Audit Report - 1976
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SA.LIN .A.
.A.IRPOR T
.A. UTHORI.TY
SALIN A
MUNICIPAL
AIRPORT
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February 24, 1977
,
Centlemen:
,bl' Sa1 Lna Airport Authority herewith submits an accounting of its operations
for the calendar year 1976, as reported by A. II. Leckband & Co., its independent
certified public accountants.
J976 was a good year at the Salina Airport Industrial Center and the Salina
Municipal Airport.
FAA air operations count for 1976 went over the 100,000 mark and increased 20%
over 1975, with a total of 102,892 operations. This was due, in a large part,
to the increased pilot training conducted by the fixed base operators; also to
continued TWA pilot training in Lockheed 1011, and because the Salina Municipal
Airport is becoming a center for refueling of business and commercial jets.
ßeech Aircraft Corporation expanded their operations by leasing the old Rapid
Air Hangar Building #509 (42,300 sq. ft.) and they will utilize it for increased
manufacturing space in the future. Presently it is being used for storage of
aircraft. Jeech Aircraft built a complete aircraft painting facility in Hangar
606 and now are able to paint their aircraft being manufactured here. This is a
deluxe facility and a good addition to Hangar 606.
Construction continues for Tony's Pizza facility. A 10,000 sq. ft. warehouse is
almost ('ompleted in the warehouse area. This will give Schwan's Sales Enterprises
Inc. increased warehouse space. Schwan's also constructed a complete truck washing
facility at their truck repair and distribution center on the north ramp.
rhe Salina Airport Authority acquired 8.6 acres east of Tony's Pizza plant from
the Federal Government and leased it to Schwan's Sales Enterprises, Inc., for
additional Tony'~ Pizza expansion.
¡'rontier Ai rlines are doubling the number of flights serving Salina, effective
March 2, 1977. This will provide a round-trip flight to Denver, a flight in the
morning and a return flight at night; and a round-tri,p flight to Wichita, Kansas.
Frontier has not been able to finalize plans to go into O'Uara at Chicago, as the
route case is still awaiting Civil Aeronautics Board decision.
Aircraft Services Inc. continued to expand by doubling their hangar space, shop
space, and private and public office space. They also added additional refueling
equipment.
'~'he Sal lna Airport Authority constructed additional hangar space for Nelson Aviation,
doubling their leased space.
;, ¡ 11 ('I KanC;,i"; Tnc.)mplered a new operations building. the\' speejallz,
"'l,l ; ,'.; ;Hi,,;qe!-i~ jhi cammer,';;]} jet aircraft on ,:ross-country flights.
,11, ., rpurt,\llthoritv 1 ",a";l el f;p'vis Construction Co. l'nl' block of ten old
t T' ".tLel lvu me ;-. h;dls, to [,'bulld into an apartment complex. 'he first
l " I, ; lding 1- . )mpletc an,! uc,'!pied, and the second apartment building is
I, -' 'le. 1 '.., '~a-; pru'/ed re. be a very worthwhile project and will provide
!, > ."c,' ~. '¡¡HC, "f : .t' Ln,\ustrial v;urkers at the Airport Industrial Center. ¡ t
,i ~, ¡,í c : e'" [("\ >", that part 01: the Industrial Center.
,
ill, . :;1,1 .\l~rort .-\,;UIIJ: ~y leased lD Rapid Transit Inc. the fuel storage tank
,¡1m, . h i!;,:-' f>,750,('CiU gallons cf fuel storage in three above-",round tanks.
.hc' 11"rt' tank is bfc"ing used for he;:¡ting fuel storage and the south and center
('ink" d ,;:-:;,òd for Agrico fertilizer products. Storage of fertilizer and heating
fue ¡ i'~ ,:; demand and the tank farm is proving to be a valuable le,'\seho1d.
'"uk;: Hi 11 ':lC. has started development on their property leased (rom
:'irporl 1\1 thoril':, I'dst of tank farm and extending to Magnolia Road.
h'd] ding,:; Lib been, onslruc ted and a concrete bridge built to proviÓe
~ídg'1'lja r-..,'ad.
the Salina
One of three
access to
\I1"t\11.=[ ,\irport Aid Devc'lopment Project (ADAP) \.¡as approved to provide Salina Fire
Station #) with a quick response fire and crash truck, fully equipped with the
latest I ire fighting materials, including six fire protection suits. Also, part
(\1 tn, ne-oJ project i,ò ,mber filters for the first 2000 feet of RuOViay 35 and
R.\:m.:J.\ : 7. \vh i ch wi 11 bring the runway lighting in compliance v. it h'he latest
f. ,A r, c()m'11,~[1déitions.
lhe Sell ',k ,\irport Authùritv':~ prope;ty, ¿1irfield facilities, ,tod buildings have
nl'en \:J~ ¡, r a pLanned and executed maintenance program during the past year.
~l\','nt' '! bui lding!-i w('re reroofed in 1976.
':'lJe S,d ¡,n Airport AUtfhHLty appreciates the cooperation it has received from
:111 s(ò¡:'¡i1ents of the Salina community during the past year, and pledges its efforts
tov.'ard c(,ntinued progre,.;,;in its area of responsibility.
Sincerely,
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SALlNA ~lRPORT,."AUTH. ORIT'\"
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, B~n: E. \'idTicksen
Chairman
BEV:: s
SALINA AIRPORT AUTHORITY
Salina, Kansas
AUDIT REPORT
Year 1976
A. H. LECKBAND & CO.
Certified Public Accountants
Accounting Bldg., 719 East Crawford
Salina, Kansas 67401
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::;C~-.~¿èlle A-1
Sc~~e¿u::'e A-2
Scl~è¿èlle A-3
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Sc'~',e¿èlle E-l
Sc~e¿ule ::,-2
Sc:.e¿èl~e 3-3
Scl-,edèlle B-4
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EXiiIBI'I' F
SALINA AiRPORT AUTHORITY
TAbLE OF COKTENTS
Pa':?;e
Auditor's Report
1
Coillwents
2
Sta~~went of Receipts, Disbursements, and
Com)osi~ion of Ending Cash Balances
O?erating Revenues
Operating Ex?cnditures
Capital Expenditures
3
4
5
6
Bonds or Indebtedness
7
General Ooligation Bonds
Dèlil¿ing Revenue Bonds-Series 1971
Building Revenue Bonds-Series 1972
Building Revenue Bonds-Series 1973
Building Revenue Bonds-Series 1973-2
8
9
10
11
12
Reconcilement of Fiscal Agency Account
13
Schedule of Investments
14
Insurance in Force
15
Schedule of Audit Adjustments
16
February 4, 1977
~o ~he Directors
S¿:ina Ai~port Authority
Sa:ina, Kansas 67401
Gentler;¡en:
We have exar;¡ined the financial and related general records of the
Sa:;'ina /Ürport Au~hority for the year ended December 3:;', 1976.
Our examination was performed ~n accordance with the provisions of
t:'1e :':ini;:;¡um Standard Âu¿it Program approved by the State Municipal
Accounting Board September 28, 1963, and subsequent ar;¡endments thereto, and
accordin;:y included such tests of the accounting records and such other
auditing procedures as we considered necessary in the circumstances.
~he Salina Airport Authority has not maintained a record of its general
fixed assets, and accordingly a statement of general fixed assets, required
by genera:;'ly accepted accounting principles, is not included in this report.
In our opinion, the accompanying exhibits and schedules reflect fairly
~he cash position of the Salina Airport Authority at December 31, 1976, and
the results of its cash transactions for the year then ended on a basis
consistent with that of the preceding year.
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CERTIFIED PUBLIC ACCOUNTANTS
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~u~~ne O. Harrison, Certified Public
Accountant, Certificate No. 1401, in
charge of and actively engaged on
this audit.
1
CŒ<MENTS
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:
William P. Horton, Chairman-term expired April 27, 1976
Ben Vidricksen, Chairman
Dean Tinkler, Vice-Chairman
John Zimmerman, Secretary-Treasurer
C.J. Wertz
Nathan B. Butcher-appointed April 27, 1976
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.
The Sal ina Air?ort Authority is exempt from the cash bó.s is law
under the provisions of K.S.A. 10-1116 as stated in the audit reports
of prior years.
4.
~e 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.
A Bon¿ Reserve Account and a Replacement and Depreciation Account
were established during 1971 in accordance with the Buj~lding Revenue
Bond issues. The requirements and balances of these accounts are
as follows:
Bond Reserve
Account
Replacement and
Depreciation Account
$12,OOO.OO
12,000.00
Balances required as of December 31, 1976
Actual balances as of December 31, 1976
$21,000.00
21,000.00
2
SAlJINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
STATE7'1ENT OF RECEIPTS J DISBURSEHENTS. AND COHPOSITION OF ENDING CASH BALANCES
EXHIBIT A
CASH AND INVESTMENTS-January 1
January 1
4\irport
Revolving
Account
lliJ,782.45
RECEIPTS
Operating revenues-Schedule A-I $339,937.80
Proceeds of Airport Development Aid
Program Grant
TOTAL RECEIPTS
RECEIPTS AND BEGINNING BALANCE
$339,937.80
~693,720.25
to December 31,
Building
Revenue
Account
g26,903.47
$333,839.42
§]33,839.42
1976
General
Operating
Fund Totals
Lí§..o.. 6 8 5 . 92
$
673,777.22
$
673,777.22
$560,742.89 $1,254,463.14
DISBURSEMENTS
Operating expenditures-Schedule A-2 $318,490.70 $225,155.16 $ 543,645.86
Capital expenditures-Schedule Ae3 25,599.76 89,100.00 114,699.76
Airport Development Aid Program
project expenditures 7,907.73 - 7,907.73
Overpayment to Kansas Public
Employees Retirement Fund
TOTAL DISBURSEMENTS $351.998.19 $314,255.16 $ 666,253.35
CASH AND INVESTMENTS-December 31 ~1.722.06 §246.487.73 $ 588.209.79
AVAILABLE CASH AND INVESTMENTS-December 31
First National Bank & Trust Co. $
Planters State Bank & Trust Co.
National Bank of America
First State Bank & Trust Co.
Certificates of Deposit
Certificates of Deposit-Bond Reserve
Certificates of Deposit-Replacement
and Depreciation Reserve
Transfer of Funds per Schedule of
Audit Adjustments
TarAL
DEDUCT-Amounts withheld from payroll
20,641.31
9,950.91
315,000.00
1,109.59
$346,701.81
TOTAL CASH AND INVESTMENTS-December 31 $341,722.06
4 ¿}29, 75
$ 32,759.99
91,837.33
90,000.00
21,000.00
12,000.00
tL109.59)
~.
$246,487.73
~
$
32,759.99
20,641.31
91,837.33
9,950.91
405,000.00
21,000.00
12,000.00
$
593,189.54
4,979.75
~487,73 $ 588.209.79
3
January 1 to December 31, 1975
Airport Building General
Revolving Revenue Operating
Account Account Fund Totals
g96,801.80 $199.477 ,61 $ 496,279.1;1
$410,603 .72 $314,870.42 $ 725,474.14
261,577.33 - 261,577.33
$672,181.05 $314,870.42 $ 987,051.47
$968,982.85 $514,348.03 $1,483,330.88
$264,541.01 $226,444.56 $ 490,985.57
1,535.25 61,000.00 62,535.25
347,061.53 - 347,061.53
2,062.61 - 2,062.61
$615,200.40 $287,444.56 $ 902,644.96
$353.782.45 $226,903.47 $ 580.685.92
$ - $ 25,163.35 $ 25,163.35
53,873.46 - 53,873.46
- 90,740.12 90,740.12
3,934.67 - 3,934.67
300,000.00 80,000.00 380,000.00
19,000.00 19,000.00
12,000.00 12,000.00
$357,808.13
4,025.68
$226,903.47
$ 584,711.60
4,025.68
$353,782.45
ill6~9Q3,47
$ ~,685 .92
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
Building rents
Agricultural land rents
Other land rents
Hangar rents
Other rents
Fixed base operator
Landing fees
Commissions
Interest on investments
Interest on sale of property
Sale of property
Reimbursement-FAA mowing
Reimbursement-airport security
Insurance proceeds
Miscellaneous income
TOTAL OPERATING REVENUES
OPERATING REVENUES
Schedule A-I
January 1 to December
Airport Building
Revolving Revenue
Account Account
$210,311.67 $285,161.86
4,845.00 3,359.00
10,648.16 1,000.00
14,777.50
17,815.34
100.00
26,719.71
61,029.49
1,094.34
17,339.73
97.50
5.472 .00
2,280.20
$339.937.80
9,652.50
415.96
1.546.26
111 .00
$333,839.42
31, 1976
General
Operating
Fund Totals
$495,473.53
8,204.00
11 , 648 .16
14,777.50
17,915.34
26,719.71
61,029.49
1,094.34
26,992 .23
415.96
1,546.26
97.50
5.472 .00
2,391.20
$673~777 .22
4
January 1 to December
Airport Building
Revolving Revenue
Account Account
$186,983.99 $281,391.48
6,721.83 5,185.00
5,975.00 1,090.00
14,380.00
4,677 .50
100.00
58,867.64
67,384.59
775.94
18,511.64
165.00
7.777.93
55,585.16
1,755.00
$410,603 .72
6,232.16
484.12
1,327.16
103.00
31, 1975
General
Operating
Fund Totals
$468,375.47
11,906.83
7,065.00
14,380.00
4,777 .50
58,867.64
67,384.59
77 5 .94
24,743.80
484.12
1,327.16
165.00
7,777.93
55,585.16
1,858.00
~l4,870.42 $725.474.14
GENERAL OPERATING FUND
OPERATING EXPENDITURES
OFFICE AND ADMINISTRATION
Office salaries
Off ice supplies
Postage
Car expense
Travel expense
Legal and auditing
Insurance
Social security tax
Employees retirement
Telephone
1eimbursabl :harges
Airport sec~ity
Other office and administration
TOTALS
MAINTENANCE
Building maintenance
Runways, taxiways and ramps
Equipment gas, oil and repairs
Utilities
Grounds maintenance
Janitor supplies
Maintenance salaries
Snow removal
Airfield lighting equipment
Other maintenance expense
TOTALS
BOND AND INTEREST
Bond principal redeemed
Bond interest expense
Bond commission and postage
Expense relating to bond issue
TOTALS
TOTAL OPERATING EXPENDITURES
Schedule A-2
January 1 to December 31, 1976
Airport Building General
Revolving Reven~~ Operating
Account Acco,.. è Fund Totals
$ 55,269.76
1,216.32
326.15
3,081.39
1,040.66
5,198.4C
27,809.13
6,951.30
4,286.74
1,896.74
(5.86)
7,485.16
2,849.45
~lL405 .34
$ 60,298.98
19,933.07
5,355.59
16,583.10
1,495.51
975.55
79,442.15
6.01
2,218.70
14,776.70
L2QLO85.36
$
~
$318,490.70
$
1.00
~
1.00
$
$
$145,000.00
79,415.66
38.50
700.00
ill5, 154.16
ill5.l55.l6
$ 55,269.76
1,216.32
326.15
3,081.39
1,040.66
5,198.40
27,809.13
6,951.30
4,286.74
1,896.74
(5.86)
7,485.16
2,850.45
$117,406.34
$ 60,298.98
19,933.07
5,355.59
16,583.10
1,495.51
975.55
79,442.15
6.01
2,218.70
14,776.70
WI, 085.' )
$145,000.00
79,415.66
38.50
700.00
$225,154.16
~5~J, 645.86
January 1 to December 31, 1975
Airport Building General
Revolving Revenue Operating
Account Account Fund Totals
$ 50,460.00
909 .0 5
277 .60
2,799.28
802.08
5,177 .40
25,087.19
6,589.61
5,817.73
1,752.66
(9.30)
5,211.38
2, 943 . 53
~lQ7,818.21
$17,987.43
10,912.88
5,407.70
14,079.68
11,601.07
1,033.88
79,368.59
149.32
16,182.25
lli6,722.80
$
~
$264 ,-2~1~ 01
5
$
~
$
$
$140,000.00
86,109.41
35.15
300.00
$226,444.56
$2.2.ti,444.56
$ 50,460.00
909.05
')77 LA
'-" . uv
2,799.28
802.08
5,177 .40
25,087.19
6,589.61
5,817.73
1,752.66
(9.30)
5,211 .38
2,943.53
lli7,818.21
$ 17,987.43
10,912.88
5,407.70
14,079.68
11,601.07
1,033.88
79,368.59
149.32
16,182.25
lli6, 722.80
$140,000.00
86,109.41
35.15
300.00
$226~444.56
$490,985.57
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
CAPITAL EXPRNDITlmES
C_1.._.L.1- . '1
""""<::UUl.<:: t1.-J
Equipment
1976 Matador station wagon
7 H.P. riding mower
Self-propelled paint striper
Building improvements
Building 313- Jarvis Construc-
tion Co., Inc.
Hangar-Nelson Aviation
Building 102l-Rickel Manufacturing
Corp.
Building 266-Schwan's Sales
Enterprises, Inc.
Other improvements
6" sewer line across Scanlan Avenue
TOTAL CAPITAL EXPENDITURES
January 1 to December 31, 1976
Airport Building General
Revolving Revenue Operating
Account Account Fund Totals
January 1 to December 31, 1975
Airport Building General
Revolving Revenue Operating
Account Account Fund Totals
$ 4,499.81 $ - $ 4,499.81 $ - $ - $
219.95 - 219.95 - -
- 1,535.25 - 1,535.25
20,000.00 - 20,000.00
89,100.00 89,100.00
25,000.00 25,000.00
36,000.00 36,000.00
880.00 - 880.00
-
lli~599.76 $89 .1O0~OO lli4,699.76 il'L535. 25 ill,ooo.oO ~2,535.25
6
SALINA AIRPORT AUTHORITY
BONDS OF INDEBTEDNESS
December 31, 1976
EXHIBIT B
Original Principal Outstanûin¿;
Issue Paid Balance
--
General Obligation Bonds
Schedule B-I $ 790,000.00 $270,000.00 $ 520,000.00
Building Revenue Bonds-Series 1971
Schedule B-2 250,000.00 95,000.00 155,000.00
Building Revenue Bonds-Series 1972
Schedule B-3 500,000.00 140,000.00 360,000.00
Building Revenue Bonds-Series 1973
Schedule B-4 350,000.00 75,000.00 275,000.00
Building Revenue Bonds-Series 1973 -2
Schedule B-5 350,000.00 75,000.00 275,000.00
$2.240,000.00 $655.000.00 $1,585,000.00
7
SALINA AIRPORT AUTHORITY
CE\~~L OBLIGATION BONDS
December 31, 1976
Schedule B-I
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 I, 1988
$270,000.00
$520,000.00
Schedule of Payments
Due in Bond Bond
Year Principal Interest
1977 $ 40,000.00 $ 16,931.29
1978 40,000.00 15,581.29
1979 40,000.00 14,231.29
1980 40,000.00 12,881.29
1981 45,000.00 11 ,446.92
1982 45,000.00 9,928 .l 7
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
$520.000.00 $108.534.67
8
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BO~~S - SERIES 1971
.
December 31, 1976
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
January I, 1971
$250,000.00
5%
January 1, 1981
$95,000.00
$155,000.00
Schedule of Payments
Due in Bond Bond
Year Principal Interest
1977 $ 25,000.00 $ 7,125.00
1978 30,000.00 5,750.00
1979 30,000.00 4,250.00
1980 35,000.00 2,625.00
1981 35,000.00 875.00
$155,000.00 $ 20,625.00
Schedule B-2
9
SALINA AIRPORT AUTHORITY
BUILDING REVE~uE BONDS - SERIES 1972
December 31, 1976
Date of Issue:
Amount of Issue:
Int.:'rest Rate:
Nãturity Dãte:
Principal Paid:
Outstanding Balance:
Due in
Ye::i::-
1977
1978
1979
1980
1981
1982
1983
1984
July 1, 1972
$500,000.00
4.5, 5/0
July 1, 1984
$140,000.00
$360,000.00
Schedule of Payments
Bond
Bond
Interest
PrinciJal
$ 17,175.00
15,375.00
13,575.00
11,775.00
9,750.00
7,500.00
5,000.00
2,500.00
$ 40,000.00
40,000.00
40,000.00
45,000.00
45,000.00
50,000.00
50,000.00
50,000.00
$360.000.00
$ 82.650.00
Schedule B-3
10
SALINA AIRPORT AUTHORITY
BUILDING R~VENUE BO~uS - SERIES 1973
December 31, 1976
Date of Issue:
fuuount of Issue:
Interest Rate:
~:aturity Date:
Principal Paid:
Outstanding Balance:
Schedule of Payments
Due in
Year
Bond
Principal
$ 25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
40,000.00
40,000.00
35,000.00
35,000.00
1977
1978
1979
1980
1981
1982
1983
1984
1985
$275,000.00
January 1, 1973
$350,000.00
5.25/0
February 1, 1985
$75,000.00
$275,000.00
Bond
Interest
$ 13,781.25
12,468.75
11 ,156.25
9,843.75
8,531.25
6,825.00
4,725.00
2,756.25
918.75
$ 71.006.25
Schedule B-4
11
SALINA AIRPORT AUTHORITY
BUILDING REVE~UE BO~DS - SERIES 1973-2
December 31, 1976
Date of Issue:
A~ount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
December 31, 1973
$350,000.00
6, 6.5%
December 1, 1985
$75,000.00
$275,000.00
Schedule of Payments
Due in Bond Bond
Year- Principal Interest
1977 $ 25,000.00 $ 17,500.00
1978 25,000.00 16,000.00
1979 25,000.00 14,500.00
1980 25,000.00 13,000.00
1981 25,000.00 11,375.00
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
$275,000.00 $ 96,100.00
Schedule B-5
12
SALINA AIRPORT AUTHORITY
RECONCILE~ŒNT OF FISCAL AGENCY ACCOUNT
December 31, 1976
BALA~CE WILd FISCAL AGENCY-January 1, 1976
REMITTA~CES
Matured bonds
Interest coupons
Commission and postage
TOTAL REMITTANCES AND BEGINNING BALANCE
RETUR~S
Cancelled bonds
Interest coupons paid
Commission and postage retained
BALfu~CE WITH FISCAL AGENCY-December 31, 1976
$35,000.00
18,196.91
38.50
$35,000.00
18,703.13
38.50
EXHIBIT C
$
506.22
53,235.41
$53,741.63
53,741.63
$
13
SALINA AIRPORT AUTHORITY
SCHEDULE OF INVESTMENTS
December 31, 1976
EXHIBIT D
Balance Purchases Redemptions Balance
1-1-76 Year 1976 Year 1976 12-31-76
AIRPORT REVOLVING ACCOUNT
Certificates of deposit $300,000.00 $ 775,000.00 $ 760,000.00 $315,OOO.00
BUILDING REVENUE ACCOUNT
Certificates of deposit 111 ,000 .00 552,000.00 540,000.00 123,000.00
TOTAL-
GENERAL OPERATING FUND $411 .000.00 $1,327.000.00 $1.300.000.00 $438.000.00
14
Workmen's Compensation and
Employer's Liability
Comprehensive General
Liability
Owners, Landlords, and
Tenants Liability
SALINA AIRPORT AUTHORITY
INSURANCE IN FORCE
December 31, 1976
Type of Coverage
Bodily injury and
property damage
Rental Bui1dings-Schwan's Fire and lightning,
extended coverage,
vandalism and mali-
cious mischief
Rental Buildings-
Industrial
Rental Buildings-
Dwe lUngs
Airport Terminal and
Rental Buildings
Vehicles
Fire and lightning,
extended coverage,
vandalism and mali-
cious mischief-rental
value insurance
Fire and lightning,
extended coverage
Fire and lightning,
extended coverage,
vandalism and mali-
cious mischief
Bodily injury
Property damage
Fire, lightning and
transportation, theft,
combined additional
coverage
Medical payments
Uninsured motorists
Amount of
Coverage
$
100,000.OO
5,000,000.00
1,000.000.00
6,255,000.00
431,570.00
52,000.00
1,949,000.00
100/300,000.00
50,000.00
31,900.00
2,000.00
15/30,000.00
EXHIBIT E
Co-Insurance
Percentage
90%
15
SALINA AIRPORT AUTHORITY
SCHEDULE OF AUDIT ADJUSTMENTS
December 31, 1976
AIRPORT REVOLVING ACCOUNT
Account No.
(1)
Transfer of Funds
Interest on Investments
To record amount due from the Building
Revenue Account for interest on certificate
of deposit #12194 which was deposited in the
Building Revenue Account checking account on
December 15, 1976.
(2)
Janitor Supplies
ADAP Project
To reclassify portion of Check #8445 dated
December 8, 1976, for payment of janitor
supplies which was charged to ADAP project
in error.
BUILDING REVENUE ACCOUNT
(1)
Interest on Investments
Transfer of Funds
To record amount due to the Airport
Revolving Account for interest on certifi-
cate of deposit #12194 which was deposited
in the Building Revenue Account checking
account on December 15, 1976.
480
475
725
765
480
460
Debit
--
1,109.59
42.78
1,109.59
EXHIBIT F
Cred it
1,109.59
42.78
1,109.59
16