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Audit Report - 1981 IT BOARD 0'<' DIRECTORS " [', ßL'1CHFR C"."",^" '" P H()mlJ~ \',. (',^""^' ë!," \':!)Ki<"','iC~ ~'" "". "" 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