Audit - 2006/2007 (2)
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SALINE COUNTY-CITY BUILDING AUTHORITY
Salina, Kansas
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FINANCIAL STATEMENTS
with
Independent Anditor's Report
December 31, 2007 and 2006
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BARTLETT, SETTLE & EDGERLE
A PROFESSIONAL ASSOCIATION
Certified Public Accouutants
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SALINE COUNTY-CITY BUILDING AUTHORITY
Salina, Kansas
FINANCIAL STATEMENTS
with
Independent Auditor's Report
December 31, 2007 and 2006
Table of Contents
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Independent Auditor's Report
Management's Discussion and Analysis
Basis Financial Statements:
Statements of Net Assets
Statements of Revenues, Expenses, and Changes in Net Assets
Statements of Cash Flows
Notes to Financial Statements
Page
I
2-4
5
6
7
8 - II
Supplementary Information:
Schedule of Cash Receipts, Expenditures, and
Changes in Budgeted Net Income -
Budget and Actual - Budgetary Basis
12
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BARJLETT SETTLE &: EILERLE
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")" PRO FES 5 ION A LAS 5 0 C rATION
CERTIFIED PUBLIC ACCOUNTANTS
March 26, 2008
Board Members
Saline County-City Building Authority
Salina, Kansas .
In planning and performing the audit of the financial statements of the Saline County-City Building
Authority (Authority) as of and for the year ended December 31, 2007, in accordance with auditing
standards generally accepted in the United States of America, we considered the Authority's internal
control over fmancial reporting (internal control) as a basis for designing our auditing procedures for the
purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an
opinion on the effectiveness of the Authority's internal control.
However, during the audit we become aware of the following matters that are opportunities for
strengthening internal controls. This letter does not affect our report dated March 26, 2008, on the
financial statements of the Authority.
Policv Relating to Capital Assets
The accounting policy that addresses the capitalization of equipment and building
improvements was not consistent with the understanding of Authority management. The
accounting policy stated that capital assets costing $550 or more should be capitalized
however management understood the level to be much smaller. We suggest that the
policy be reviewed and updated to address all areas of capital asset management. Areas
to include would be dollar threshold, service life/useful life, identification tags, inventory
records, and responsibility.
Security Agreement with Bank
The Security Agreement For Public Funds Deposits is dated in year 1994 and there have
been changes to Federal and Kansas banking laws since then. This agreement is
important because it addresses the pledged securities that are collateralizing the
Authority's bank deposits. We suggest that the Authority contact the financial institution
to obtain an updated security agreement.
Postemplovrnent Benefits Other Than Pensions
Since the financial statements of the Authority are prepared according to generally
accepted accounting principles (GAAP), the Authority is required to comply with all
Governmental Accounting Standard Board (GASB) statements. GASB Statement No 45
requires that governments determine the liability associated with postemployment
benefits other than pensions. This pronouncement is effective for the year 2009. The
determination of this liability requires the involvement of an actuarial study. We
recommend that the Authority address GASB 45 and the effect on its financial
statements.
129 WEST SECOND, SUITE A . PO. Box 2889 . HUTCHINSON, KS 67504-2889
PIJO:-;[: 620.662.3358 . Tou.-FREE: 888.414.0123 . FAX: 620.662.3350 . EMA1L: bsc@cpabse.com
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We will review the status of these comments during our next audit engagement We have already
discussed them with Authority personnel, and we will be pleased to discuss them in further detail at your
convenience, to perform any additional study, or to assist you in implementing the recommendation.
This report is intended solely for the information and use of the Authority, management, others within the
organization, federal awarding agencies, and pass-through entities and is not intended to be and should
not be used by anyone other than these specified parties.
Sincerely,
~.cA'P/~~&~
of Bartlett, Settle & Edgerle
A Professional Association
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~1L
BAI{fLETT SETTLE &. ElLERLE
A PROFESSIONAL ASSOCIATION
CERTIFIED PUBLIC ACCOUNTANTS
INDEPENDENT AUDITOR'S REPORT
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To the Governing Board
Saline County-City Building Authority
Salina, Kansas
We have andited the accompanying basic financial statements of the Saline County-City Building Authority, Salina,
Kansas, as of and for the years ended December 31, 2007 and 2006, as listed in the table of contents. These
[mancial statements are the responsibility of the Saline County-City Building Authority's management. Our
responsibility is to express an opinion on these fmancial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America
and the Kansas Municipal Audit Guide. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall [mancial statement presentation. We believe that our audit provides a reasonable basis for our
opinion.
In our opinion, the [mancial statements referred to above present fairly, in all material respects, the financial
positions of the Saline County-City Building Authority as of December 31, 2007 and 2006 and the changes in its
financial positions and its cash flows for the years then ended in conformity with accounting principles generally
. accepted in the United States of America.
The management's discussion and analysis is not a required part of the basic [mancial statements but is
supplementary information required by accounting priociples generally accepted in the United States of America.
We have applied certain limited procedures which consisted principally of inquiries of management regarding the
methods of measurement and presentation of the required supplementary information. However, we did not audit
the information and express no opinion on it.
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Our audit was conducted for the purpose of forming an opinion on the basic financial statements, The budgetary
schedule listed as supplementary information in the table of contents is presented for purposes of additional analysis
and is not a required part of the basic financial statements. This supplementary information has been subjected to
the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all
material respects, in relation to the basic financial statements taken as a whole.
~~~i~ati~~~
March 26, 2008
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129 \VEST SECOND, SUITE A . PO. Box 2889 . HUI'CH1NSON, KS 67504-2889
PHO:-.Jf.: 620.662.3358 . TOLL-FREE: 888,414.0123 . FA;":: 620.662.3350 . blA1L: bse@cpabse.com
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MANAGEMENT'S DISCUSSION AND ANALYSIS
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As management of the Saline County-City Building Authority (Authority), we offer readers of our
financial statements this narrative overview and analysis of the financial activities of the Authority for the
fiscal year ended December 31,2007. This discussion should be read in conjunction with the Authority's
basic financial statements and the notes to those financial statements. The Authority is responsible for the
completeness and accuracy of this information.
Overview ofthe Financial Statements
This discussion and analysis is intended to serve as an introduction to the Authority's basic financial
statements. Since the Authority is engaged only in business-type activities, its basic financial statements
are comprised of only two components: I) enterprise fund financial statements and 2) notes to financial
statements.
Enterprise fund financial statements - The enterprise fund financial statements are designed to
provide readers with a broad overview of the Authority's finances, in a manner similar to a
private-sector business.
The statement of net assets presents information on the Authority's assets and liabilities,
with the difference between the two reported as net assets. Over time, increases or
decreases in net assets may serve as a useful indicator of whether the financial position of
the Authority is improving or deteriorating.
The statement of revenues, expenses and changes in net assets presents information
showing how the Authority's net assets changed during the most recent fiscal year. All
changes in net assets are reported as soon as the underlying event giving rise to the
change occurs, regardless ofthe timing of the cash flows.
The statement of cash flows provides information about the cash receipts and
disbursements during the period.
Notes to financial statements - The notes provide additional information that is essential to a full
understanding of the data provided in the financial statements.
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Financial Analysis
As noted earlier, net assets may serve over time as a useful indicator of a government's financial position.
In the case of the Authority, assets exceeded liabilities by $3,048,149 at the close of the most recent fiscal
year.
The largest portion of the Authority's net assets (63%) reflects its investment in capital assets, less any
related outstanding debt (if any) used to acquire those assets. The Authority uses these capital assets to
provide facilities, equipment, and services to its tenants; consequently, these assets are not available for
future spending.
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Current and other assets
Capital assets
Total assets
Current liabilities
Total liabilities
2007
$1,209,039
1.906.899
$3.115.938
$ 67.789
$ 67.789.
Net assets:
Invested in capital assets, net of related debt
Unrestricted
Total net assets
$1,906,899
U41.250
$3.048.149
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Net Assets
2006
$1,115,182
1.914.165
$3.029347
$ 58.135
$~5Kill
$1,914,165
1.057.047
$2,271.212
2005
$ 965,718
2.048.583
$3014.301
$ 102.286
$ 102.286
$2,004,714
907.301
$2,2.12 015
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At the end of the current fiscal year, the Authority is able to report positive balances in both categories of
net assets. The same situation holds true for the prior years.
Changes in Net Assets
2007 2006 2005
Operating revenues $ 799,797 $ 783,990 $ 829,129
Nonoperating revenues 40,947 41.888 22,920
Total revenues 840,744 825,878 852,049
Operating expense:
Personnel expense 341,232 335,494 318,855
Depreciation 141,810 137,667 131,530
Operation and maintenance 280,765 293,520 250.259
Total operating expense 763,807 766,681 700,644
Nonoperating expenses 2.124
. Total expense 763.807 766.681 702.768
Income (loss) 76,937 59,197 149,281
Net assets - January 1 2.971.212 2,912.015 2,762,734
Net assets - December 31 $3 048.1 49 $2971.212 $2,912 015
The Authority's net assets increased by $76,937 during the current fiscal year. Operating revenues
increased slightly over the prior year and operating expenses remained relatively the same. The excess of
revenues over expense as shown above is necessary in order to accumulate the funds to purchase capital
improvements as needed.
Statement of Cash Flows
2007 2006 2005
Net cash provided (used) by:
Operating activities
Capital and related financing activities
Investing activities
Net change in cash
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
$ 160,600 $ 156,818 $ 248,389
(141,497) (49,453) (232,226)
47.900 42.099 22,920
67,003 149,464 39,083
1.115.182 965.718 926.635
$1.182185 $1.115182 $ 965.718
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The net change in cash and cash equivalents is highly dependent upon the level of capital improvements
purchased by the Authority. The net change in cash and cash equivalents has been positive so the
Authority is able to position itself to fund future capital commitments.
Capital Assets and Debt Administration
Capital Assets - The Authority's investment in capital assets as of December 31, 2007, amounts to
$1,906,899 (net of accumulated depreciation). This investment in capital assets includes: land, land
improvements, building, building improvements, vehicles, furniture, office equipment, and maintenance
equipment. Additional information related to capital assets is located in Note 5 of the Notes to Financial
Statements.
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Land
2007
$ 220,228
164,281
3,366,482
406.292
4,157,283
(2.250.384)
$1.906.899
Capital Assets
2006
2005
Land and land improvements
Building and improvements
Equipment
Total capital assets
Accumulated depreciation
Total capital assets, net of depreciation
$4,067,425
(2.153.260)
$1.914.165
$4,091,245
(2.042.662)
$2.048 583
Long-Term Debt - The Authority currently has no outstanding debt.
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Economic Factors and Next Year's Budget
The Authority continues to house the administrative offices of Saline County, Saline City, and the related
Courts. Management continually evaluates the maintenance and improvement needs of the building
complex. The budget for the following year of 2008 reflects operations to be consistent with the past
activity of the Authority.
Requests for Information
This financial report is designed to provide a general overview of the Authority's finances for all those
with an interest in the Authority's finances. Questions concerning any of the information provided in this
report or requests for additional financial information should be addressed to the Saline County-City
Building Authority, 300 West Ash Street, Salina, KS 67401.
Jim Schroeder, Superintendent
Saline County-City Building Authority
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BASIC FINANCIAL STATEMENTS
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Saline County-City Building Authority
Statements of Net Assets
December 31, 2007 and 2006
2007 2006
ASSETS
Current Assets
Casb and cash equivalents $ 1,182,185 $ 1,115,182
Prepaid expenses 26,854
Total current assets 1,209,039 1,115,182
. Noncurrent Assets
Capital assets (net of depreciation) 1,906,899 1,914,165
TOTAL ASSETS $ 3,115,938 $ 3,029,347
LIABILITIES
Current Liabilities
Accounts payable $ 30,779 $ 26,638
Accrued vacation and sick leave payable 37,010 31,497
Total current liabilities 67,789 58,135
NET ASSETS
Invested in capital assets net ofrelated debt 1,906,899 1,914,165
Umestricted 1,141,250 1,057,047
Total net assets 3,048,149 2,971,212
TOTAL LIABILITIES AND NET ASSETS $ 3,115,938 $ 3,029,347
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The accompanying notes are an integral part of these financial statements.
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Saline Connty-City Building Authority
Statements of Revenues, Expenses,
and Changes in Net Assets
For the Years Ended Decemher 31, 2007 and 2006
2007 2006
OPERATING REVENUES
Charges for facilities, services and equipment
Saline County $ 473,694 $ 473,694
City of Salina 290,329 290,329
City of Salina - maintenance 900 900
Salina Public Library 8,060 8,060
. Vending income (net) 3,080 3,270
Refunds, claims, and other 23,734 7,737
Total operating revenues 799,797 783,990
OPERATING EXPENSES
Personnel costs 341,232 335,494
Maintenance and repairs 89,097 92,200
Supplies and small tools 21,591 21,448
Depreciation 141,810 137,667
Insurance 30,369 35,246
Utilities 128,579 135,442
Contracted services 5,785 6,048
Miscellaneous expenses 5,344 3,136
Total operating expenses 763,807 766,681
Net operating income 35,990 17,309
NONOPERATING REVENUE AND EXPENSE
Loss on disposal of assets (6,953) (211)
Interest income 47,900 42,099
Total nonoperating revenue and expense 40,947 41,888
Change in net assets 76,937 59,197
NET ASSETS
. Net assets - beginning of year 2,971,212 2,912,015
Net assets - end of year $ 3,048,149 $ 2,971,212
. The accompanying notes are an integral part of these financial statements.
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Saline Connty-City Building Authority
Statements of Cash Flows
For the Years Ended December 31, 2007 and 2006
2007 2006
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received for facility and equipment use $ 772,983 $ 772,983
Cash received from refunds, claims, vending, other 26,814 11,007
Payments to suppliers (303,495) (289,466)
Payments to employees for salaries and benefits (335,702) (337,706)
Net cash provided by operating activities 160,600 156,818
. CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Purchase of capital assets (141,497) (3,460)
Principal paid on capital debt (43,869)
Interest paid on capital debt (2,124)
Net cash used for capital and related fmancing activities (141,497) (49,453)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 47,900 42,099
Net cash provided by investing activities 47,900 42,099
Net increase (decrease) in cash and cash equivalents 67,003 149,464
Cash and cash equivalents - beginning of year 1,115,182 965,718
Cash and cash equivalents - end of year $ 1,182,185 $ 1,115,182
RECONCILIATION OF OPERATING REVENUE TO NET CASH
PROViDED BY OPERATING ACTIVITIES
Operating income $ 35,990 $ 17,309
Depreciation 141,810 137,667
Changes in assets and liabilities:
Receivables (26,854)
Accounts payable 4,141 4,055
. Accrued expenses 5,513 (2,213)
Net cash provided by operating activities $ 160,600 $ 156,818
. The accompanying notes are an integral part of these financial statements.
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Note 1
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Saline County-City Building Authority
Salina, Kansas
Notes to Financial Statements
December 31, 2007 and 2006
Summary of Si!mificant Accountin!! Policies
The Saline County-City Building Authority (Authority) was formed March 22, 1965, under the Interiocal
Cooperation Act of Kansas (KSA 12-2901 to 12-2907) by Saline County (County), the City of Salina (City),
and the Board of Education U.S.D. #305 (School District). The Authority was created to provide for the
acquisition of land and the construction, equipping, operating, and maintenance of a building and parking
area to house the county offices and courts, the city offices and courts, and the school district offices. On
January 16, 1996, the Interiocal Agreement was restated to relieve the School District from any ongoing
responsibility or expense relating to the Authority. The School District retained its beneficial ownership
interest in the Building Authority.
The accounting and reporting policies of the Authority relating to the accompanying financial statements
conform to accounting principles generally accepted in the United States of America (GAAP) applicable to
public institutions engaged only in business-type activities adopted by the Governmental Accounting
Standards Board (GASB). The GASB is the accepted standard-setting body for establishing governmental
accounting and financial reporting principles.
A. Reporting Entity
The governing board of the Authority is composed of seven members, six of whom are appointed from the
governing boards of the participating municipalities, and one of who is selected at large by the six appointed
members. The makeup of the appointed members is three from Saline County, two from the City of Salina,
and one from the District Court. The accompanying financial statements include all funds which are
controlled by or are dependent on the Authority.
The Authority is considered to be a joint venture because it is a separate legal entity that is jointly controlled
by the County and City. The County and the City both have an ongoing financial responsibility for the
Authority. The Authority's [nteriocal Cooperation Agreement grants a beneficial interest to the County, City,
and the School District in proportion to the respective share of the original acquisition costs of the building.
B. Measurement Focus and Basis of Accounting
For financial reporting purposes, the Authority is considered a special-purpose government engaged only in
business-type activities. The Authority's fmancial statements have been presented using the econontic
resource measurement focus and the accrual basis of accounting. The intent of the Board is that the cost of
providing services on a continuing basis be recovered through rents and user fees. Revenues are recorded
when earned and expenses are recorded when a liability is incurred, regardless of the tinting of related cash
flows.
As permitted by generally accepted accounting principles, the Authority has elected not to apply Financial
Accounting Standards Board pronouncements issued after November 30, 1989.
When both restricted and unrestricted resources are available for use, it is the Authority's policy to use
restricted resources fIrst, then unrestricted resources, as they are needed.
C. Budgetary Information
The Saline County-City Building Authority does not have tax levying powers and is not required to
publish a legal budget. An operating budget is adopted anoually by the Governing Board for the purpose
of deterntining the amount of appropriations to request from participating municipalities to cover the
operating and maintenance costs of the building.
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Saline County-City Buildiug Authority
Notes to Financial Statements (continued)
December 31, 2007 and 2006
Note 1
Summarv of Sienificant Accountine Policies (continued)
D. Cash and Cash Equivalents
For the purposes of the statement of cash flows. the Authority considers all demand deposits and all
investments (if any) with maturities of three months or less to be cash equivalents.
E. Capital Assets
Additions to property and equipment are recorded at cost. Maintenance and repairs are expensed as
incurred. Assets are depreciated using the straight-line method over the estimated useful lives of the
assets as follows:
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Buildings and improvements
Equipment
F. Vacation and Sick Leave Payable
The Authority is liable for payments to employees for sick pay and vacation pay earned according to the
Authority's personnel policies. This liability is accrued at year-end for financial statement purposes. The
liability is recorded in the statement of net assets and a related expense is recorded in the statement of
revenues, expenses, and changes in net assets.
5-50 years
5-25 years
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G. Net Assets
Net assets represent the difference between assets and liabilities and are classified in the following categories:
Invested in capital assets, net of related debt - This amount consists of the cost of capital assets, net of
accumulated depreciation and reduced by any outstanding debt related to the acquisition, construction or
improvement of those assets.
Unrestricted net assets - Tbis amount is all net assets that do not meet the definition of "invested in
capital assets, net of related debt".
H. Classification of Revenues
The Authority distinguishes operating revenues and nonoperating revenues as follows:
Operating revenues - Operating revenues include rents and assessments charged to the entities
occupying the facilities and for the use of equipment owned. It also includes related refunds, claims,
or miscellaneous items.
Nonoperating revenue - Nonoperating revenues include all activities that have the characteristics of
nonexchange transactions, such as gifts, contributions, and investment income.
I.
Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the
United States of America requires management to make estimates and assumptions that affect amounts
reported in the tinancial statements and the accompanying notes. Actual results could differ from those
estimates.
J. Risk Management
The Authority carries commercial insurance to limit its exposure to the various risks of loss related to torts;
theft of, damage to and destruction of assets; errors and omissions; injuries to employees; and natural
disasters. There has been no significant change in the Authority's insurance coverage from the previous year.
In addition, there have not been settlements in excess of the Authority's coverage in any of the prior three
years.
K. Reclassifications
Certain accounts in the prior year financial statements have been reclassified for comparative purposes to
conform to the presentation in the current year [maneial statements.
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Saline Connty-City Building Authority
Notes to Finaucial Statemeuts (continued)
December 31, 2007 and 2006
Note 2
Note 3
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Note 4
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StewardshiD, ComDliance, and Accountabilitv
Cash-Basis Law (KSA 10-1113) - The Authority was in compliance with this law at all times during the
year.
Depository Security (KSA 9-1402) - The Authority's funds were adequately secured at all times during the
year.
DeDosits - Cash and Cash Equivalents
As of December 31, 2007, the Authority had cash and cash equivalents as listed below:
$1 182 185
Deposits in financial banking institutions
The Authority did not have any activity in investment-type assets.
Interest rate risk - KSA 9-1401 establishes the depositories which may be used by Kansas governments.
The statute requires banks eligible to hold the government's funds have a main or branch bank in the county
in which the government is located, or in an adjoining county if such institution has been designated as an
official depository, and the banks provide an acceptable rate of return on funds. In addition, K.sA 9-1402
requires the banks to pledge securities for deposits in excess of FDIC coverage. The Authority has no other
policies that would further limit interest rate risk.
Credit risk - KSA 12-1675 limits the government's investment of idle funds to time deposits, open accounts,
and certificates of deposit with allowable fmancial institutions; U.S. government securities; temporary notes;
no-fund warrants; repurchase agreements; and the Kansas Municipal Investment PooL The Authority has no
investment policy that would further limit its investment choices.
Custodial credit risk - The custodial credit risk for deposits is the risk that, in the event of the failure of a
depository fmancial institution, a government will not be able to recover deposits or will not be able to
recover collateral securities that are in the possession of an outside party. Kansas Statutes 9-1402 and 9-
1405 require that governments obtain security for all deposits. The Authority manages its custodial credit
risk by requiring the fmancial institutions to grant a security interest in securities held by third-party custodial
banks.
Concentration of credit risk - State statutes place no limit on the amount the government may invest in any
oue issuer as long as the investments are adequately secured under KSA 9-1402 and 9-1405. The Authority
has placed all of its resources with one financial institution.
Defined Benefit Pension Plan
Plan Description - The Authority participates in the Kansas Public Employees Retirement System (KPERS),
a cost-sharing multiple-employer defined benefit pension plan as provided by KSA 74-4901, et seq. KPERS
provides retirement benefits, life insurance, disability income benefits, and death benefits. Kansas law
establisbes and amends benefit provisions. KPERS issues a publicly available financial statement that
includes financial statements and required supplementary information. That report may be obtained by
writing to KPERS (611 S Kansas, Suite 100, Topeka, KS 66603) or by calling 1-888-275-5737.
Funding Policy - KSA 74-4919 establishes the KPERS member-employee contribution rate at 4% of
covered salary. The employer collects and remits member-employee contributions according to the
provisions of section 414(h) of the Internal Revenue Code. State law provides that the employer contribution
rate be determined armually based on the results of an armual actuarial valuation. KPERS is funded on an
actuarial reserve basis. State law sets a limitation on armual increases in the contribution rates for KPERS
employers. The employer rate established by statute for calendar year 2007 is 5.31%. The Authority's
employer contributions to KPERS for the years ending December 31, 2007, 2006, and 2005 were $11,832,
$10,516, and $8,876, respectively, equal to the statutory required contributions for each year.
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Saline County-City Building Authority
Notes to Financial Statements (continued)
December 31, 2007 and 2006
Note 5 CaDital Assets
The following summarizes the changes in capital assets for the year ended December 31, 2007:
Bel:!inninl:! (Decrease ) Ending
Balances Increases (Adiustments) Balances
Non-depreciable capital assets:
Land $ 223.873 $ $ (3.645) $ 220.228
Depreciable capital assets:
Land improvements 128,580 32,056 3,645 164,281
Building and improvements 3,263,308 64,212 38,962 3,366,482
. Equipment 451.664 45.229 (90.601) 406.292
Total depreciable capital assets 3.843.552 141.497 (47.994) 3.937.055
Total capital assets 4,067,425 141,497 (51,639) 4,157,283
Accumulated depreciation (2.153.260) 1141.810) 44.686 (2.250.384)
Total capital assets, net $ I 914 165 $ (313) $ (6953) $ I 906.899
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SUPPLEMENTARY INFORMATION
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Saline County-City Building Authority
Schedule of Cash Receipts, Expeuditures, and Changes in Budgeted Net Income
Budget and Actual- Budgetary Basis
Year ended December 31,2007
Variance
Budget Actual With
Amounts Amounts Budget
Budgetary Budgetary Over
Basis Basis (Under)
Cash Receipts
Saline County $ 473,694 $ 473,694 $
City of Salina 290,329 290,329
. Saline Public Library 8,060 8,060
City of Salina - Maintenance 900 900
Interest income 24,000 47,900 23,900
Vending income 3,000 3,080 80
Refunds, claims, and other 600 23,734 23,134
Total Cash Receipts 800,583 847,697 47,114
Exoenditures
Phone maintenance 4,800 4,400 (400)
Audit fees 6,000 4,186 (1,814)
Beautification 5,000 3,885 (1,115)
Capital projects 197,500 123,238 (74,262)
Clerical services 1,500 1,500
Consultant fees 5,000 99 (4,901)
Education 3,000 1,867 (1,133)
Equipment 3,750 7,467 3,717
Group insurance 68,000 55,095 (12,905)
Insurance - work camp, auto, building 38,000 30,369 (7,631)
Janitor supplies 26,500 21,591 (4,909)
KPERS - retirement 12,500 11,832 (668)
Maintenance agreement 43,000 41,812 (1,188)
Miscellaneous 5,000 5,344 344
. Repairs and maintenance 38,000 54,191 16,191
Salaries 260,000 247,712 (12,288)
Social security 19,890 18,985 (905)
Unemployment insurance 260 229 (31)
Utilities 175,000 124,179 (50,821)
Total Expenditures 912,700 757,981 (154,719)
Budgeted net income (loss) $ (112,117) $ 89,716 $ 20 I ,833
Reconcile to financial statements prepared on a GAAP basis:
Budgeted net income - Budgetary basis $ 89,716
Capital assets expensed for budgetary purposes 141,497
Depreciation expense (141,810)
Disposal of equipment (net cost) (6,953)
Changed in accrued compensation (5,513)
Change in net assets - GAAP basis $ 76,937
.