Audit Report - 1970
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S\lI'\\. I-..I'\S.\\ 67~OI
February 8, 19ìJ
The Salina Airport Authority hcl~e\/it:l1 suur'liu; an accounting of its ste:mrd.--
ship for the calendar year 1970, as reported by A, II. Leckband and Compa~y, its
independent Certified Ptililic Accountants.
The ycú.r 1970 héls been '-'Ii eventful and succc~;sful year f()l' the Autlwrl ty.
Our financial activities Here very satisfactory as is indicated by the follo\/illf,
summary for the year 1970 of the General Operating Fund:
Beginning Balance (Snrplus) January 1, 1970
$ 300,36(,.:1
Adc1-0perélt:ing Revenues
Less-Operating Expenditures
$ 353,3110.53
-_2...?!!.~ J:..Ll_,,§O.
_L9.,2~.i3.}.3..
Excess Operating Revenues over Oparati~g Expenditures
Less Capital Expenditures:
Net Tornado Cost
Expenditures on Buildings to
Increase Rentéll Income
Expenditures to Improve
Existing Facilities (includ
ing Magnolia Road, Crash/
Fire Truck, Sprinkler
System, etc)
Amount ì<Jithheld from Payroll
$ 379,595.011
$
23,230.35
71,510.60
-~Q.,J 2 5.~?~~
i.lJ_~.JJ.6J) ._5,3.
$ 204,528.51
_._.~,.J..:I~f}2.
Ending Balance (Surplus) Dec. 31, 1970
$ 206,758.93
In addition to our cash surplus of $206,758.93, HC are awaiting a final
settlement from the U.S. Government of approximately $50,000 for tornado da;.,agc.
HoHevcr, \.;e must meet Bond Principéil and JnLcj^cst require¡"ents of our GCliCTi'l
Obligation BoiH1E; on the 10th of January 1971 of approxinately $/+3,000. So, \,/0 go
into the ncu year \Vi t11 a surplus in cxceE;S of $200,000.
Physically, the airport and Ute build
improved.
and facilitiec; have been S\l~jC;té'jlLiéllly
The rUn\Y~lYS h~lV(' h,Jel collo;Lclnt ¡".'lintcI; nce and are holel.ín=; tip undCl' the hei:vy
traffic r rk¿liJJy \..'e1]. l\nother nUl'" \,C, opened to tl~ilfLi.c--I~ull.-iay 1¡--22. T¡¡j~;
lwdlH"dl Ta:,:i\'.'ilY J3, but \-lit,; orii.:jually builtin \';orlcJ \-7,!)- II 0.0: a rum'i'Y. A
rl1ll1\'ay ì.'é1:3 needed fen Iigllt aircraft, so F¡\!', ¿'ppnJvcd dco-;:iZ;llaLing this Tit:\:
as I~Ulj',7ny 1:-22. This help,; the IigL! aircuI[t in nòaking faster ta'¿e'-off~: and
landingo"" especially ,'ihen the large jeU; ilrc uc,:ing the other rUij",r,J/S for training.
13
Opening of ì-bgnoJ ia Ro"cl ](--272 \va;::: probably the most: ÍJ1ìport:o.nt: improvcu;cnt
to the S¿'ljna Airpo¡"t T11l111stri 0.1 Center. This roécù \ms built as a joint effort by
Saline County, the Kanr;a,; ILl g Cm,,;;LL,; \c'n and the Salina 1\j rporl Authod ly.
This reliever; the traffic on both Centc'lHlj,:,1 EuacJ and Schilling EOOlcI to accoi"¡¡lc>daLe
Beech and other employees and aE:sures better control of traffic to and from the
Salin,'l :'lullicipoll\irport. The toti'!.l share of the cost to tIle S¿¡]inr" Airport Authority
for HagnnJia lZoad \,¡as $31,OJ3.00.
The crash--stn¡clllraJ fire true1, l'urchar;cd by the Ci.ty of Sa1:in? and the>
Salini1 Ajrport i\uthority for Fire StaLíon ]"°.3, give¿-; thc S,dina >fllnicjpilJ Airport
and ¡\LPA (Airline;; Pilot As;30ciation) rating of "A" for 1970, 'L'his is the only
airport in ](étTl¿-:ru=-; rated "A". Tlds gjVC8, a lot of prestige to Salina and 11;:'1S
caur,ccl cc)lì;;icIerable complimentary COLl¡,le¡!t'~;.
Tony 1 S I11C., Has purcho,;ed by ScIiìv"ll' s ~]aJ cs of i'iar:,;halJ, TIlC., NarshalJ,
i'f:Lnne:;ota, tld" past year and they [¡,Tve jncrc.c",-;ccl sales beyond r,Il expectation,;.
Planning is une1en'iay to cxpé1nd thÜ; pI" t and to automat'e SOIle of the operé:tions.
Sch\1an's Saler; of HarshalI, Inc., di;::;lJ'ibutc,; frozen feJod products in tI,'elve state::;
and are still exp¿lncIing. ScIl'"iiHì' s Snler; of >iè,'u;iJall, Inc., al:=-;o lear;eù an n !~ea
on CentclIl1Íal Road for a distrjbution cclll"er fOl~ their frozen food products and
at their e:\:pCl1:-.;e built a fro;~en food lackcl: and a distribution building on LId,;
area.
The SaljnCt Airport Authority ha.'; buiJ ( th'O addition:=-; to the Rickel, Inc.
plant, manufacturers of the TI1G A fertilizer Dispenser. This plant has increased
proc'uction fror,l about one unit a Hl"ck to one unit or more per day. This plant
has been ,'JOrking U.-l0 shifts during the p;-,,:t YCélJ. l'lanning is undenTay to build an
office addition onto this plant. Their saleé3 office is currently located in the
Termin¿Ü BuD c1 ing.
The Salina Auto Auction located on a two acre fenced plot on rhe east side
of Centennial, is a welcome addition to t[¡e industry at tile Airport Industrial
Center. An existing building \-Ias completely rcllabilitated and made into a first-
class auto sales facility. This is a dealers only auction.
Hasting::; DynamoJd Corporation lea;:.;ec1 the old LOX building, located in the
northea:=-;1: corner of thc Industrial Center, and they hé1ve completely rellé!bili tilted
it for manufacturins of their pre-~òtrcs,-;ed concrete slip-forI:ling E:1chines ì'ih:ich
make:=-; concrete panels jn various vjclthr; and a]-chitectural fOU,lS. Their bl1siné'¿-;s
has been expanding élnc1 they éJre selling the~;c müchincs internationally.
Tn Llddition to the élbovC' mentioned bllsínc,c;,;e~,;, bllilcljn::.~s, filcilitics and
equipll1cnt thi~i past yeél:C, all t)"é¡Ce~; of thc' c1i;,;é':'iterous tornéldo of June J9G9
have been erasccl a,net the' airport cncls up \7j th 20 n<::\1 T'-'112ngars in~~ ['cad of the 01 d
ones 1!lovc,cl frO(;1 tho old airport; 10 reb'.1 ¡ It: T-';'nn~ilrr; salvr; fre]': the tornac1o
¿;nd a ne'" o;hop building to rc'placC' th old bu'ilcling uc,cc1 be5:01' tile' tor ,~(); aJ 1
bunc1jng:: TcpiLrrec1 éJ;::; good, "OWl' lJeLLt'l", (11;:111 the orrginnl blljJcJl¡,Z:;'
In addition, this year m:¡rLvc1 t1)e ¡H,,-~jl:¡~¡l1(,; of the rL~coL;njt'¡ol1 on a l1:ltLUI1~;J
level of the Salilln Ajrpo):L ~¡ ail ¡I, f.l j L training location for or
airljl1e~; and ail é!',7akclling oS Ll! }'t;'i~C(, of tllC ai,J'port a,~ a refuclLl(', b~l'-;C'.
Norl11',':c,;t Orient é1ncl T\,J,-\ Ajr1:in ('('retinue' to use thc SaJ :Lua '\:¡1"1'ort: f(,], SOLd>:'
of their jet trair,ing. The l\1r1'o1'L Authc,,::ity HUl continuc to pur:;uc thL~ type
of tré\in'ing in the future. The Un menl::LoneÔ airlines pilJ 1'I:11:e addition,:-;l equip-'
ment che'n?,es in thc J]C,H future. '1\'::\ \,/ill enter into thc 1...1011 (Lockheed TrihJet)
in No/c;rlej- 1971, and NortJl\.'e,c;t Oricnt ¡\ir1incci uiJl purc:lnc.c the r-[c]Ì\JI1¿:Jc1
Douglas nC-,JO durin:; early 1973. TIle ;\l1'chority :L,; hopin~; that \':c \vi.11 be Sl1CCe~;E;'
fur in gettin::; SOLle of this trtdnilJg. The 7/:7 tro:ining \d,Jl continuc in the futurc,
but it Hill not b(~ as extensive 35 :i 11 tLll" pH" L.
As our airpurt grol-'s in iLLport¿1J1cc \':C arc being rccognj 7cc1 a,; an executive
jet refueling stop. This past year such airline:; élf; ALAska and Xorth Centrell Air-
l:ines ha:; used us on c11artcr stop,;. Purdue Airlines cont:inucs to use us ""'; one
of their major refueling f;top::;. It is our intcntiOlI to expand in this area.
Our fixed base operator has i1!'¡)}~ovC'd ,;ecv:Lccr; for general élvi'it:ion, inclIldi J]~;
a resUl1lrant: facility located on the ro.;:,p adjacent to the YEO IIangClr. This eatin:',
place \v:iJ J fill a need at the airport as generilJ aviation likes to have a good place
to stop éinc1 eat \1hen flying cro','~-Collntry.
Planning is l1nden;ay to rell¿lbil:Ltal e the tc:J"mLnal builc1:Ing ani surrounding
area. This \wrk \-lill be ac jsl1c-c1 ill severi,l phn c:;, the first being to redesign
the Jobby "lld entrance,,'; éJncl to reo-do tLi~ naTU¡ \7:În¿::, IJ1'cscntly VaC311t, for Ué;C' a,;
a first--cIa,"; restaurant. Other pha,~C"; \'7:ilJ illclude parkin::!,]j Ling, Lmd,;enping
and a general face liftin¿:: of the teruliil~l building. We believe first impressions
are permanent and as more people are tJHvel by air than ever before, PC want
then¡ to have éI good impres sioIJ of Salina.
The Salina Municipal Airport: has excellent facilities for general aviation,
including ne\'.' T-Hangars, and cd th the recently opened Rumiay L1.--22 there is a
minimum of delay in takehoff and landing.
He hope to continue our progress in aJ 1 p11ases of our activi ties during the
coming year, and we hope to do so uithouL t1)c necessity of raising funds by \-lay
of a tax levy.
The Salina Airport Authority is deepJ y grateful to the \-ionclerfllJ cooperillion
it has received clurܡg the paf;t year from ;:111 segn:ents of the Saliw COL:li1unity,
and pledges its efforts toward continued progress in its area of responsibility.
Sincerely,
SALINA An~PORT AUTUOJUTY
H. J. Kennedy
Chainnan
SALINA AIRPORT AUTHORITY
Salina, Kansas
AUDIT REPORT
Year 1970
Ao H. LECKBAND & CO.
Certified Public Accountants
Accounting Bldg., 719 East Crawford
Salina, Kansas 67401
EXHIBIT A
Schedule 1
Schedule 2
Schedule 3
EXHIBIT B
EXHIBIT C
EXHIBIT D
EXHIBIT E
SALINA AIRPORT AUTHORITY
TABLE OF CONTENTS
Page
Auditor's Report
1
Comments
2-3
Statement of Receipts, Disbursements, and
Composition of Ending Cash Balances
Operating Revenues
Operating Expenditures
Capital Expenditures
4
5
6
7
Bonds of Indebtedness
8
Reconcilement of Fiscal Agency Account
9
Schedule of Investments
10
Insurance in Force
11
February 8, 1971
To the Directors
Salina Airport Authority
Salina, Kansas 67401
Gentlemen:
We have examined the financial and related general records of the Salina
Airport Authority for the year ended December 31, 1970.
Our examination was performed in accordance with the provisions of the
Minimum Standard Audit Program approved by the State Municipal Accounting
Board September 28, 1963, and subsequent amendments thereto, and included
such tests as we considered necessary in the circumstances.
In our opinion, the accompanying schedules reflect the cash position of
the Salina Airport Authority at December 31, 1970, and the results of its
cash transactions for the year then ended.
4/1~~~&.
CERTIFIED PUBLIC ACCOUNTANTS
/ ~/C/. ~J/ 0. ~
Eugen O. Harrison, Certified
Public Accountant, Certificate No. 1401,
in charge of and actively engaged on
this audit.
1
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:
M. J. Kennedy, Chairman
C. J. Wertz, Vice-Chairman
Edward H. Bell, Secretary-Treasurer
C. Dale Lyon - term expired April 26, 1970
Bill Horton
C. F. Heath
2.
The following officials, appointed by the Salina Airport Authority Board
of Directors, also served during the period of our examination:
John F. Scanlan, Executive Vice-President
Paul Wall, Assistant Secretary and Airport Manager
3.
The Salina Airport Authority believes it is not subject to the cash basis
law of K.S.A. 10-1116 as stated in the audit reports of prior years.
4.
We recommend that a determination of the values of the capital assets be
recorded on the books and that a realistic depreciation charge be computed
and recorded annually.
5.
The Salina Airport Authority has one legal financial fund called the
General Operating Fund. However, for accounting purposes the receipts
and expenditures have been separated into two general accounting records,
the Airport Revolving Account and the Bond and Interest Account. This
report presents the combined financial affairs of the two accounts of the
General Operating Fund.
Effective January 1, 1971, these two accounts will be combined, except
that certain revenues and expenditures will be segregated for accounting
purposes in accordance with the terms of a $250,000.00 Building Revenue
Bond issue to be issued as of January 1, 1971. There will continue to be
only one fund called the General Operating Fund, but a separate account
will be maintained for all revenues pledged to the payment of principal
and interest of the Building Revenue Bonds.
2
COMMENTS
6.
The Office of Emergency Preparedness has approved payments totaling
$170,673.69 to the Salina Airport Authority for damages resulting from
the June 21, 1969 tornado. The Salina Airport Authority has received
$119,714.00 and is awaiting final settlement of $50,959.69.
7.
Property taxes paid during 1970 in the amount of $15,694.82 represents
the last half of 1969 taxes. No taxes for 1970 have been paid as the
Salina Airport Authority property was removed from the Saline County
tax rolls as ordered by the Kansas Board of Tax Appeals.
3
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
EXHIBIT A
STATEMENT OF RECEIPTS, DISBURSEMENTS, AND COMPOSITION OF ENDING CASH BALANCES
January 1 to December 31, 1970
CASH AND INVESTMENTS - January 1, 1970
RECEIPTS
Operating revenues -
Insurance proceeds -
Proceeds from Office
Preparedness
Inter-account transfer
Schedule 1
storm damage
of Emergency
TOTAL RECEIPTS
RECEIPTS AND BEGINNING BALANCE
DISBURSEMENTS
Operating expenditures - Schedule 2
Capital expenditures - Schedule 3
Tornado damage to buildings
Inter-account transfer
TOTAL DISBURSEMENTS
CASH AND INVESTMENTS - December 31, 1970
AVAILABLE CASH AND INVESTMENTS - December
First National Bank and Trust Co.
Planters State Bank
National Bank of America
U. S. Treasury Bills
TOTAL
DEDUCT - amounts withheld from payroll
TOTAL CASH AND INVESTMENTS
December 31, 1970
Airport
Revolving
Account
$198,122.12
$295,346.47
40,643.65
27,654.00
$363,644.12
$561,766.24
$214,686.36
99,265.58
91,528.00
19,700.00
$425,179.94
$136.586.30
Bond and
Interest
Account
$102,244.19
$ 57,994.06
19,700.00
$ 77,694.06
$179,938.25
$ 59,425.44
52,570.60
$111,996.04
$ 67.942.21
General
Operating
Fund Totals
$300,366.31
$353,340.53
40,643.65
27,654.00
19,700.00
$441,338.18
$741,704.49
$274,111.80
151,836.18
91,528.00
19,700.00
$537,175.98
$204.528.51
31, 1970
$ 3,761.72 $ $ 3,761. 72
6,860.00 6,860.00
48,208.11 48,208.11
128,195.00 19,734.10 147,929.10
$138,816.72 $ 67,942.21 $206,758.93
2,230.42
$136.586.30
$ 67,942.21
2,230.42
$204.528.51
4
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
OPERATING REVENUES
January 1 to December 31, 1970
Building rents
Agricultural land rents
Hangar rents
Storage tank rents
Other rents
Fixed base operator
Landing fees
Commissions
Interest on investments
Interest on sale of property
Sale of property on contract
Reimbursement - FAA mowing
Other reimbursable charges
Miscellaneous income
Airport Bond and
Revolving Interest
Account Account
$129,738.58 $ 29,845.00
4,630.00 10,502.00
7,555.00
2,178.95
50.00
40,459.05
107,809.00
990.97
10,026.25 5,284.65
666.52
691.94
217.00
208.00
1,217.62 1,270.00
$295.346.47 $ 57.994.06
TOTAL OPERATING REVENUES
SCHEDULE 1
General
Operating
Fund Totals
$159,583.58
15,132.00
7,555.00
2,178.95
50.00
40,459.05
107,809.00
990.97
15,310.90
666.52
691. 94
217.00
208.00
2,487.62
$353.340.53
5
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
OPERATING EXPENDITURES
January 1 to December 31, 1970
OFFICE AND ADMINISTRATION
Office salaries
Office supplies
Postage
Car expense
Travel expense
Legal and auditing
Insurance
Property tax
Engineering
Social security tax
Employees retirement
Telephone
New office equipment
Reimbursable charges
Other office and administration
Airport
Revolving
Account
$ 35,056.00
614.98
105.72
3,497.10
2,592.13
3,633.80
24,836.33
13,099.39
4,758.88
3,550.39
2,674.11
1,610.09
468.00
179.50
1,484 . 10
$ 98,160.52
TOTAL OFFICE AND ADMINISTRATION
MAINTENANCE
Building maintenance
Runways, taxiways and ramps
Equipment gas, oil and repairs
Utilities
Grounds maintenance
Janitor supplies
Contract labor
Maintenance salaries
Airfield lighting equipment
Signs
Other maintenance expense
$
7,485.83
24,128.59
3,814.42
10,732.96
7,307.22
403.31
846.50
54,119.96
955.97
32.28
6,698.80
$116,525.84
TOTAL MAINTENANCE
BOND AND INTEREST
Bond principal redeemed
Bond interest expense
Bond commissions and postage
$
TOTAL BOND AND INTEREST
$
TOTAL OPERATING EXPENDITURES
$214.686.36
Bond and
Interest
Account
$
2,595.43
536.44
1.00
$
3,132..87
$
$
$ 30,000.00
26,250.00
42.57
$ 56,292.57
$ 59.425.44
Schedule 2
General
Operating
Fund Totals
$ 35,056.00
614.98
105.72
3,497.10
2,592.13
3,633.80
24,836.33
15,694.82
4,758.88
3,550.39
2,674.11
1,610.09
468.00
715.94
1,485.10
$101,293.39
$
7,485.83
24,128.59
3,814.42
10,732.96
7,307.22
403.31
846.50
54,119.96
955.97
32.28
6,698.80
$116,525.84
$ 30,000.00
26,250.00
42.57
$ 56,292.57
$274.111. 80
6
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
CAPITAL EXPENDITURES
January 1 to December 31, 1970
Building improvements
Building 496 - Salina Auto Auction
Building 1021 - Rickel, Inc.
Building 266 - Schawn's of Marshall, Inc.
Magnolia Road expenditure
Beech Aircraft - sprinkler system
Fire/crash truck - Airport Fire Station
New vehicles
Taxiway sweeper
TOTAL CAPITAL EXPENDITURES
Airport
Revolving
Account
$ 18,940.00
30,652.00
14,536.00
26,961. 22
5,676.36
2,500.00
$ 99,265.58
Bond and
Interest
Account:
$
33,000,,00
19,570,,60
$ 52.570,,60
Schedule 3
General
Operating
Fund Totals
$ 18,940.00
33,000.00
19,570.60
30,652.00
14,536.00
26,961.22
5,676.36
2,500.00
$151.836.18
7
SALINA AIRPORT AUTHORITY
BONDS OF INDEBTEDNESS
December 31, 1970
General Obligation Bonds dated February 1,
1967, issued for the purpose of acquiring
surplus property from the United States
TOTAL ORIGINAL ISSUE
DEDUCT - Bonds paid in year 1969
Bonds paid in year 1970
TOTAL BONDS OUTSTANDING - December 31, 1970
EXHIBIT B
Maturity Interest
Date Rate Total
2 -1-69 4.25 $ 30,000.00
2-1-70 4.25 30,000.00
2-1-71 4.25 35,000.00
2-1-72 4.25 35,000.00
2-1-73 4.25 35,000.00
2-1-74 3.375 35,000.00
2-1-75 3.375 35,000.00
2-1-76 3.375 35,000.00
2-1-77 3.375 40,000.00
2-1-78 3.375 40,000.00
2-1-79 3.375 40,000.00
2 -1-80 3.375 40,000.00
2 -1-81 3.375 45,000.00
2 -1-82 3.375 45,000.00
2-1-83 3.375 45,000.00
2 -1-84 3.4 45,000.00
2-1-85 3.4 45,000.00
2-1-86 3.4 45,000.00
2 -1-87 3.4 45,000.00
2-1-88 3.4 45,000.00
$790,000.00
$ 30,000.00
30,000.00 60,000.00
$730.000.00
8
SALINA AIRPORT AUTHORITY
RECONCILEMENT OF FISCAL AGENCY ACCOUNT
December 31, 1970
BALANCE WITH FISCAL AGENCY - January 1, 1970
REMITTANCES
Matured bonds
Interest coupons
Commission and postage
TOTAL REMITTANCES AND BEGINNING BALANCE
RETURNS
Cancelled bonds
Interest coupons paid
Commission and postage retained
BALANCE WITH FISCAL AGENCY - December 31, 1970
$ 30,000.00
26,250.00
42.57
$ 30,000.00
26,250.00
42.57
EXHIBIT C
$
56,292.57
$ 56,292.57
56,292.57
$
9
SALINA AIRPORT AUTHORITY
SCHEDULE OF INVESTMENTS
December 31, 1970
EXHIBIT D
Balance
1-1-70
Purchases
1970
Redemptions
1970
Balance
12-31-70
AIRPORT REVOLVING ACCOUNT
U. S. Treasury Bills
$191,493.05
$491,675.70
$554,973.75
$128,195.00
BOND AND INTEREST ACCOUNT
U. S. Treasury Bills 82,578.65 191,870.80 254,715.35 19,734.10
TOTAL -
GENERAL OPERATING FUND $274.071.70 $683.546.50 $809.689.10 $147.929.10
10
Workmen's Compensation
Comprehensive General
Liability
Aircraft Hangar
Rental Building 266
Rental Buildings -
Industrial
Rental Buildings -
Dwellings
Airport Terminal and
Rental Buildings
Vehicles
SALINA AIRPORT AUTHORITY
INSURANCE IN FORCE
December 31, 1970
Type of Coverage
Fire and lightning, ex-
tended coverage, vandalism
and malicious mischief
Fire and lightning, ex-
tended coverage, vandalism
and malicious mischief
Fire and lightning, ex-
tended coverage, rental
value insurance
Fire and lightning
extended coverage
Fire, lightning,
windstorm and hail,
explosion, riot, vehicles
and aircraft, smoke
Bodily injury
Property damage
Bodily injury
Property damage
Fire, theft and combined
additional coverage
Amount of
Coverage
$ 100,000.DO
5,000,000.00
20,000.00
150,000.00
180,300.00
37,000.00
1,794,000,,00
1/1,000,000,,00
1/1,000,000..00
100/300,000.00
50,000.00
EXHIBIT E
Co-Insurance
Percentage
80
80
90
11