Audit Report - 1983
SALINA AIRPORT AUTHORITY
Salina, Kansas
AUDIT REPORT
Year 1983
,.
A.H. LECKBAND & co.
Certified Public Accountants
Accounting Bldg., 719 East Crawford
Salina, Kansas 67401
SALINA AIRPORT AUTHORITY
TABLE OF CONTENTS
Page
Auditor's Report
1
Financial Statements
Balance Sheet
Statement of Revenues, Expenses and Changes in Equity
Statement of Changes in Financial Position
2
3
4
Summary of Capital Expenditures
5
6-7
Notes to Financial Statements
SUPPLEMENTAL INFORMATION
Financial Statements-Airport Revolving Account
Balance Sheet
Statement of Revenues, Expenses and Changes in Equity
Statement of Changes in Financial Position
8
9-10
11
Capital Expenditures-Airport Revolving Account
12
Financial Statements-Building Revenue Account
Balance Sheet
Statement of Revenues, Expenses and Changes in Equity
Statement of Changes in Financial Position
13
14
15
Capital Expenditures-Building Revenue Account
16
Bonds of Indebtedness (Summary)
General Obligation Bonds
Building Revenue Bonds-Series
Building Revenue Bonds-Series
Building Revenue Bonds-Series
1972
1973
1973-2
17
18
19
20
21
Reconcilement of Fiscal Agency Account
22
Schedule of Investments
23
Insurance in Force
24
A.
H.
LECKBAND
&
co.
A. H. LECK8ANO. C.P.A.
EUGENE O. HARRISON. C.P.A.
CERTIF'IED PUBLIC ACCOUNTANTS
719 EAST CRAWF"ORD SALINA, KANSAS 67401
CHARLES B. MOORE, C.P.A.
MEM8ERS AMERICAN INSTITUTE OF CERTIFIED PU8LIC ACCOUNTANTS
ACCOUNTING DEPARTMENT (9'3) B27-7244
DATA PROCESSING DEPARTMENT (9'3) 827-7245
February 9,1984
The Board of Directors
Salina Airport Authority
Salina, Kansas
We have examined the financial statements listed in the table of contents of the
Salina Airport Authority, Salina, Kansas, for the year ended Dec ember 31, 1983.
Our examination was made in accordance with generally accepted auditing standards
and the Minimum Standard Audit Program approved by the State Municipal Accounting
Board, and accordingly included such tests of the accounting records and such
other auditing procedures as we considered necessary in the circumstances. We
have previously examined and reported on the financial statements for the preceding
year, and have given an unqualified opinion on them.
In our opinion, the aforementioned financial statements present fairly the financial
position of the General Operating Fund of the Salina Airport Al~hority at December
31, 1983, and the results of its operations and changes in its financial position
for the year then ended, in conformity with generally accepted accounting principles
applied on a basis consistent with that of the preceding year.
The accompanying supplemental information listed on the table of contents is not
necessary for a fair presentation of the financial statementE>, but is presented
as additional analytical data. This information has been subjected to the tests
and other auditing procedures applied in the examination of the financial statements
mentioned above and, in our opinion is fairly stated in all material respects
in relation the financial statements taken as a whole.
A.H. LECKEAND & CO.
p ¿?~
EU~ Harrison, C.P.A.
in charge of and actively
engaged in this audit.
1
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
BALANCE SHEET
ASSETS
CURRENT ASSETS
Cash in banks
Certificates of deposit
Notes receivable
Prepaid bond interest
TOTAL CURRENT ASSETS
RESTRICTED ASSETS
Certificates of deposit
Provision for Bond Reserve
Provision for Replacement and
Depreciation
Reserve Fund for Non-Recurring Main-
tenance and Capital Improvements
TOTAL RESTRICTED ASSETS
FIXED ASSETS
Equipment
Buildings
Other Improvements
Land
Less-accumulated depreciation
TOTAL FIXED ASSETS
OTHER ASSETS
Long-Term notes receivable
TOTAL ASSETS
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Payroll deductions
Bonds payable
Accrued bond interest
TOTAL CURRENT LIABILITIES
LONG-TERM LIABILITIES
Bonds payable
EQUITY
TOTAL LIABILITIES AND EQUITY
December 31
1983 1982
$ 577 ,061. 24 $ 204,618.44
580,000.00 270,000.00
9,684.82 7,944.78
9,412.50 9,971. 92
$1,176,158.56 $ 492,535.14
$
21,000.00
$
21,000.00
12,000.00
40,000.00
$
73,000.00
12,000.00
40,000.00
$
73,000.00
$ 639,116.64
4,560,420.90
1,728,465.07
478,000.00
$7,406,002.61
1,762,275.86
$5,643,726.75
$
75,851. 74
$ 597,989.63
4,364,342.26
1,024,611.01
478,000.00
$5,464,942.90
1,481,451.00
$4,983,491. 90
$
85,384.79
$6,968,737.05
$
5,243.28
85,000.00
6,347.92
96,591. 20
$5,634,411.83
$
5,073.74
90,000.00
9,322.43
104,396.17
$
250,000.00
6,622,145.85
$6,968,737.05
$
415,000.00
5,115,015.66
$5,634,411.83
The notes to financial statements are an integral part of this ~;tatement.
2
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN EQUITY
January 1 to December 31
1983 1982
REVENUES
Operating revenues
Income from mill levy
Proceeds of Airport Development Aid
Program grants
Property sales
Interest on property sales
Interest on investments
$
971,348.04
310,086.46
706,621.69
142,000.00
11,344.08
121,662.48
TOTAL REVENUES
$2,263,062.75
EXPENSES
Office and administration
Maintenance
Bond interest and expenses
Depreciation
$
206,738.93
245,542.96
22,825.81
280,824.86
755,932.56
TOTAL EXPENSES
$
EXCESS OF REVENUES OVER EXPENSES
$1,507,130.19
5,115,015.66
EQUITY-January 1
EQUITY-December 31
$6,622,145.85
C'
,J
944,860.86
23,987.50
12,744.63
125,074.47
~)l,106,667. 46
C'
,J
190,774.55
222,493.17
31,689.60
236,253.57
681,210.89
G'
,)
s;
425,456.57
- 4,689,559.09
5;5,115,015.66
The notes to financial statements are an integral part of this statement.
3
GENERAL OPERATING FUND
SALINA AIRPORT AUTHORITY
STATEMENT OF CHANGES IN FINANCIAL POSITION
FUNDS WERE PROVIDED BY:
Excess of revenues over expenses
Depreciation
Decrease in restricted assets
Decrease in long-term receivable
TOTAL FUNDS PROVIDED
FUNDS WERE APPLIED TO:
Capital expenditures
Reduction of long-term liabilities
Increase in working capital
TOTAL FUNDS APPLIED
CHANGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in banks
Certificates of Deposit
Notes receivable
Prepaid bond interest
Current Liabilities-Decrease (Increase)
Payroll deductions
Bonds payable
Accrued bond interest
TOTAL INCREASE(DECREASE)IN WORKING CAPITAL $
January 1 to
1983
$1,507,130.19
280,824.86
9,533.05
$1,797,488.10
$ 941,059.71
165,000.00
691,428.39
$1,797,488.10
$
372,442.80
310,000.00
1,740.04
559.42)
December 31
1982
$ 425,456.57
236,253.57
510,000.00
8,773.23
$1,180,483.37
933,516.85
175,000.00
71,966.52
$1,180,483.37
$
$ 175,818.19
( 105,000.00)
595.98
3,059.12)
636.95
2,974.52
$
71,966.52
169.54)
5,000.00
2,974.51
691,428.39
The notes to financial statements are an integral part of this statement.
4
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
CAPITAL EXPENDITURES
Buildings
January 1 to December 31
1983 1982
$ 41,127.01 ~; 13~6 . 01
196,078.64 764,366.03
703,854.06 31,654.81
$ 941,059.71 $ 933,516.85
Equipment
Other improvements
TOTAL CAPITAL EXPENDITURES
The notes to financial statements are an integral part of this statement.
5
THE SALINA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS
December 31, 1983
1.
The Salina Airport Authority is governed by a board of five
directors appointed by the City Commission of the City o:~ Salina,
Kansas. The following directors served during the period of our
examination:
Edward Pogue, Chairman
Joe C. Cloud, Vice-Chairman
Ben Vidricksen, Secretary-Treasurer
Carl Engstrom
Thomas J. Kennedy-appointed May 10,1983
William P. Horton-term expired May 10,1983
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
Donald C. Kneubuhl, Vice-President of Operations
3.
Summary of accounting policies
A. The General Operating Fund is composed of two accounts-the
Airport Revolving Account and the Building Revenue Account.
The Airport Revolving Account is used for general airport
operations and the Building Revenue Account is for segregation
of monies and establishment of reserves as provided by the
bond ordinances. The provisions of the bond ordinances have
been complied with.
B.
On May 13, 1980, the board of directors adopted a resolution
authorizing the establishment of a "Reserve Fund for
Non-Recurring Maintenance and Capital Expenditures" to be
used only for those purposes after board approval. The Reserve
Fund had a balance of $40,000.00 at December 31,1983.
C.
The accrual basis of accounting is used.
D.
Depository security is adequate for all accounts.
E.
Investments are stated at cost.
F.
Fixed assets are stated at cost. Depreciation is computed
using the straight-line method based on estimated useful lives
as foll'Jws:
Equipment
Building
Other improvements
5-10 years
15-30 years
20 years
6
SALINA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS (continued)
December 31,1983
4.
Composition of cash balances
Planters Bank and Trust Co., Salina, Kansas
First National Bank and Trust Co., Salina, Kansas
National Bank of America, Salina, Kansas
First Bank and Trust Co., Salina, Kansas
5.
Composition of certificates of deposit
First National Bank and Trust Co., Salina, Kansas
National Bank of America, Salina, Kansas
First Bank and Trust Co., Salina, Kansas
$319,235.92
76,336.78
82,127.77
99,360.77
$577,061.24
$100,000.00
280,000.00
200,000.00
$580,000.00
7
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
BALANCE SHEET
ASSETS
CURRENT ASSETS
Cash in banks
TOTAL CURRENT ASSETS
FIXED ASSETS
Equipment
Buildings
Other improvements
Land
Less-accumulated depreciation
TOTAL FIXED ASSETS
TOTAL ASSETS
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Payroll deductions
Due to Building Revenue Account
TOTAL CURRENT LIABILITIES
EQUITY
TOTAL LIABILITIES AND EQUITY
Decem'ber 31
1983
$ 418,596.69
$ 418,596.69
$ 639,116.64
1,063,586.52
1,728,465.07
$3,431,168.23
780,208.82
$2,650,959.41
$3,069,556.10
$ 5,243.28
465,434.27
$ 470,677.55
2,598,878.55
$3,069,556.10
1982
$ 105,071. 02
$ 105,071.02
$ 597,989.63
914,999.56
1,024,611. 01
$2,537,600.20
616,848.16
$1,920,752.04
$2,025,823.06
$ 5,073.74
293,000.00
$ 298,073.74
1,727,749.32
$2,025,823.06
The notes to financial statements are an integral part of this statement.
8
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN EQUITY
REVENUES
OPERATING REVENUES
Building rents
Agricultural land rents
Other land rents
Other rents
Fixed base operator
Landing fees
Commissions
Reimbursement-Airport security
Miscellaneous income
TOTAL OPERATING REVENUES
OTHER REVENUES
Proceeds from Airport Development Aid
Program grants
Income from mill levy
Interest on investments
TOTAL OTHER REVENUES
TOTAL REVENUES
EXPENSES
OPERATING EXPENSES
Office and Administration
Office salaries
Office supplies
Postage
Car expense
Travel expense
Agricultural land expense
Legal and auditing
Insurance
Engineering
Payroll taxes
Employees retirement
Telephone
Airport security
Contribution to industrial development
program
Other office and administration
SUB-TOTAL
(continued)
January 1 t~ December 31
1983 1982
$ 299,962.07 $ 304,119.31
14,986.25 21,635.64
23,193.11 21,821.10
1,725.00 1,325.00
57,649.'30 73,642.70
21,865.49 29,878.57
5,196.74 5,713.33
9,142.20
6,748.01 2,425.89
$ 431,325.97 $ 469.703.74
$ 706,621.69 $
310,086.46
26,898.55 1,688.82
$1,043,606.70 $ 1,688.82
$1,474,932.67 $ 471,392.56
$ 75,464.08 $ 77 , 861. 10
8,175.83 810.63
2,839.23 897 . 60
2,886.95 3,777.03
736.03 1,054.79
811. 38 1,686.32
11,535.11 8,833.37
39,339.52 39,856.89
1,138.55
11,628.68 12,339.36
7,722.68 6,171. 50
3,702.30 3,154.15
9,414.38
20,000.00 10,000.00
9,457.28 7,526.82
$ 195,437.62 $ 183,383.94
9
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN EQUITY (continued)
January 1 to December 31
1983 1982
Maintenance
Building maintenance $ 54,056.24 $ 28,647.48
Runways, taxiways, and ramps 23,294.17 13,046.79
Equipment, gas, oil, and repairs 17 , 331. 23 9,078.38
Utilities 34,369.58 31,495.02
Grounds maintenance 3,240.09 193.99
Janitor supplies 906.22 1,329.21
Maintenance salaries 98,657.43 106,054.88
Snow removal 1,349.08
Airfield lighting equipment 3,012.31 12,427.69
Fire department expense 1,389.90 4,046.54
Other maintenance expense 7,398.91 3,930.42
SUB-TOTAL $ 245,005.16 $ 210,250.40
Depreciation $ 163,360.66 $ 131,907.55
TOTAL EXPENSES $ 603,803.44 $ 525,541.89
EXCESS OF REVENUES OVER EXPENSES $ 871,129.23 $( 54,149.33)
EQUITY-January 1 1,727,749.32 1,781,898.65
EQUITY-December 31 $2,598.878.55 $1,727,749.32
The notes to financial statements are an integral part of this stateaent.
10
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
STATEMENT OF CHANGES IN FINANCIAL POSITION
TOTAL FUNDS PROVIDED
January 1 to December 31
1983 1982
$ 871,129.23 $
163,360.66 131,907.55
157,458.63
$1,034,489.89 $ 289,366.18
$ $ 54,149.33
893,568.03 235,216.85
140,921.86
$1,034,489.89 $ 289,366.18
FUNDS WERE PROVIDED BY:
Excess of revenues over expenses
Depreciation
Decrease in working capital
FUNDS WERE APPLIED TO:
Excess of expenditures over revenues
Capital expenditures
Increase in working capital
TOTAL FUNDS APPLIED
CHANGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in banks
Current Liabilities-Decrease (Increase)
Payroll deductions
Due to Building Revenue Account
$ 313,525.67 $ 84,904.42
( 169.54) 636.95
(172,434.27) (243,000.00)
$ 140,921.86 $( 157,458.63)
TOTAL INCREASE (DECREASE) IN WORKING CAPITAL
The notes to financial statements are an integral part of this statement.
11
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
CAPITAL EXPENDITURES
EQUIPMENT
Coffee shop equipment
Snow plow improvements
1983 Ford pickup
Yazoo model 60 mower
Snapper mowers and edger
GE radio system
Hesston model 666 tractor
Generator
Copy machine
1982 Mazda pickup
Grader lowboy
Toro snow blower
BMB rotary mower
Communications transceiver
Idaho Norland snow plow
TOTAL EQUIPMENT
BUILDINGS
Bldg. #5l2-addition
Equipment shed
Bldg. #313-addition
Engineering costs-speculative building
Bldg. #957-boiler
Engineering costs-AFS bldg.
Bldg. #207-maintenance shop addition
Bldg. #3l0-furnace
TOTAL BUILDINGS
OTHER IMPROVEMENTS
Sewer line extension
Lot surveys
Engineering costs-runway
Runway overlay
Parking lot lighting
lighting
TOTAL OTHER IMPROVEMENTS
TOTAL CAPITAL EXPENDITURES
January 1 to December 31
1983 1982
968.90 $
2,188.79
8,552.00
6,106.57
949.75
6,350.00
14,932.00
1,079.00
$
2,340.50
6,367.25
532.80
324.90
5,700.00
537.90
121,692.66
$137,496.01
$ 41,127.01
$ 69,035.00 $
7,850.05 30,249.00
50,000.00
19,710.28
1,759.50
6,032.16
5,649.75 14,347.25
10,020.00
$148,586.96 $ 66,066.03
$ 50,717.44 $ 15,390.00
834.00
14,367.93 6,034.00
638,768.69 3,446.81
~,950.00
$703,854.06 $ 31,654.81
$893,568.03 $235,216.85
The notes to financial statements are an integral part of this statement.
12
SALINA AIRPORT AUTHORITY
BUILDING REVENUE ACCOUNT
BALANCE SHEET
ASSETS
CURRENT ASSETS
Cash in banks
Certificates of deposit
Notes receivable
Prepaid bond interest
Due from Airport Revolving Account
TOTAL CURRENT ASSETS
RESTRICTED ASSETS
Certificates of deposit
Provision for Bond Reserve
Provision for Replacement and
Depreciation
Reserve Fund for Non-Recurring
Maintenance and Capital Improvement.
TOTAL RESTRICTED ASSETS
FIXED ASSETS
Buildings
Land
Less-accumulated depreciation
TOTAL FIXED ASSETS
OTHER ASSETS
Long-term notes receivable
TOTAL ASSETS
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Bonds payable
Accrued bond interest
TOTAL CURRENT LIABILITIES
LONG-TERM LIABILITIES
Bonds payable
EQUITY
TOTAL LIABILITIES AND EQUITY
December 31
1983 1982
$ 158,464.55 $ 99,547.42
580,000.00 270,000.00
9,684.82 7,944.78
9,412.50 9,971. 92
465,434.27 293,000.00
$1,222,996.14 $ 680,464.12
$
$
21,000.00
21,000.00
12,000.00
40,000.00
12,000.00
$
$
40,000.00
73,000.00
73,000.00
$3,496,834.38
478,000.00
$3,974,834.38
982,067.04
$2,992,767.34
$3,449,342.70
478,000.00
$3,927,342.70
864,602.84
$3,062,739.86
$
75,851. 74
85,384.79
$
$4,364.615.22
$3,901. 588.77
$ 85,000.00 $ 90,000.00
6,347.92 9,322.43
$ 91,347.92 $ 99,322.43
250,000.00 415,000.00
4,023,267.30 3,387,266.34
$4,364,615.22 $3,901,588.77
The notes to financial statements are an integral part of this statement.
13
SALINA AIRPORT AUTHORITY
BUILDING REVENUE ACCOUNT
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN EQUITY
January 1 to December 31
1983 1982
$ 5,678.24 $ 7,390.61
537.80 12,242.77
5,623.07
22,309.91 31,028.35
515.90 661.25
117,464.20 104,346.02
$ 152,129.12 $ 155,669.00
$ 636,000.96 $ 479,6c5.90
3,387,266.34 2,907,660.44
$4,023,267.30 $3,387,266.34
REVENUES
OPERATING REVENUES
Building rents
Agricultural land rents
Other land rents
Hangar rents
Other rents
$ 407,194.23
29,054.41
4,245.00
54,318.43
45,210.00
$ 540,022.07
TOTAL OPERATING REVENUES
OTHER REVENUES
Sale of property
Interest on sale of property
Interest on investments
$ 142,000.00
11,344.08
94,763.93
$ 248,108.01
$ 788,130.08
TOTAL OTHER REVENUES
TOTAL REVENUES
EXPENSES
OPERATING EXPENSES
Agricultural land expenses
Building maintenance
Engineering
Bond interest expense
Expense relating to bond issues
Depreciation
TOTAL EXPENSES
EXCESS OF REVENUES OVER EXPENSES
EQUITY-January 1
EQUITY-December 31
$ 337,804.88
35,789.06
4,390.00
51,794.34
45,378.84
$ 475,157.12
$ 23,987.50
12,744.63
123,385.65
$ 160,117.78
$ 635,274.90
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
FUNDS WERE PROVDED BY:
Excess of revenues over expenses
Depreciation
Decrease in restricted assets
Decrease in long-term receivable
$
January 1 to
1983
636,000.96
117,464.20
9,533.05
December 31
1982
$ 479,605.90
104,346.02
510,000.00
8,773.23
$1,102,725.15
$ 762,998.21
TOTAL FUNDS PROVIDED
FUNDS WERE APPLIED TO:
Capital expenditures
Reduction in long-term liabilities
Increase in working capital
TOTAL FUNDS APPLIED
$ 47,491.68 $ 698,300.00
165,000.00 175,000.00
550,506.53 229,425.15
$ 762,998.21 $1,102,725.15
CHANGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in banks
Certificates of deposit
Notes receivable
Prepaid bond interest
Due from Airport Revolving Account
Current Liabilities-Decrease (Increase)
Bonds payable
Accrued bond interest
$ 58,917.13 $ 90,913.77
310,000.00 ( 105,000.00)
1,740.04 595.98
559.42) ( 3,059.12)
172,434.27 243,000.00
5,000.00
2,974.51 2,974.52
$ 550,506.53 $ 229,425.15
TOTAL INCREASE (DECREASE) IN WORKING CAPITAL
The notes to financial statements are an integral part of this statement.
15
BUILDINGS
Port-A-Port hangars
Bldg. #1021-addition
Bldg. #959-re-roof
Bldg. #394-addition
Schwan's-new bakery
TOTAL CAPITAL EXPENDITURES
SALINA AIRPORT AUTHORITY
BUILDING REVENUE ACCOUNT
CAPITAL EXPENDITURES
January 1 to December 31
1983 1982
$ 17,647.44 $ 7,000.00
29,844.24
41,300.00
50,000.00
600,000.00
$698,300.00
$ 47,491.68
The notes to financial statements are an integral part of this statement.
16
General Obligation Bonds
Building Revenue Bonds
Series 1972
Building Revenue Bonds
Series 1973
Building Revenue Bonds
Series 1973-2
SALINA AIRPORT AUTHORITY
BONDS OF INDEBTEDNESS
December 31, 1983
Original
Issue
$
790,000.00
Principal
Paid
$
610,000.00
Outstanding
Balance
$ 180,000.00
50,000.00
35,000.00
10,000.00
$
335,000.00
500,000.00
350,000.00
350,000.00
$1,990,000.00
450,000.00
315,000.00
280,000.00
$1,655,000.00
The notes to financial statements are an integral part of this statement.
17
THE SALINA AIRPORT AUTHORITY
GENERAL OBLIGATION BONDS
December 31,1983
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
February 1,1961
$190,000.00
4.25, 3.375, 3.4%
February 1,1988
$610,000.00
$180,000.00
Schedule of Payments
Due in Bond Bond
Year Principal Interest
1984 $ 45,000.00* $ 6,885.00
1985 45,000.00 5,355.00
1986 45,OCO.OO 3,825.00
1987 45,000.00 2,295.00
1988 45,000.00 765.00
$225,000.00 $19,125.00
* Paid December 27,1983
18
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS-SERIES 1972
December 31,1983
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
$450,000.00
$50,000.00
Schedule of Payments
Due In
Year
Bond
Principal
Bond
Interest
1984
$50,000.00
$2,500.01~
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SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS-SERIES 1973
December 31, 1983
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
$315,000.00
$35,000.00
Schedule of Payments
Due In
Year
Bond
Principal
Bond
Interest
1984
1985
$35,000.00*
$35,000.00
$70,000.00
$2,756.;:5
918.'75
$3,615.CO
* Paid December 27,1983
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SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS-SERIES 1973-2
December 31, 1983
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
$280,000.00
$10,000.00
Schedule of Payments
Due In
Year
Bond
Principal
Bond
Interes-~
1984
1985
$35,000.00
35,000.00
$70,000.00
$4,550.00
2,215.00
$6,825.00
21
SALINA AIRPORT AUTHORITY
RECONCILEMENT OF FISCAL AGENCY ACCOUNT
December 31, 1983
BALANCE WITH FISCAL AGENCY-January 1, 1983
REMITTANCES
Matured bonds
Interest coupons
Bond commission and postage
TOTAL REMITTANCES AND BEGINNING BALANCE
RETURNS
Cancelled bonds
Interest coupons
Commission and postage retained
BALANCE WITH FISCAL AGENCY-December 31, 1983
$45,000.00
8,409.42
11.25
$45,000.00
8,409.42
11.25
$
53,420.67
$53,420.67
53,420.67
$
22
SALINA AIRPORT AUTHORITY
SCHEDULE OF INVESTMENTS
December 31,1983
Balance Purchases Redemptions Balance
1-1-83 Year 1983 Year 1983 12-31-83
AIRPORT REVOLVING ACCOUNT
Certificates of deposit $ $ $ $
BUILDING REVENUE ACCOUNT
Certificates of deposit 343,000.00 1,469,000.00 1,159,000.00 653,000.00
TOTAL
GENERAL OPERATING FUND $343,000.00 $1,469,000.00 $1,159,000.00 $653.000.00
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Workmen's Compensation and
Employer's Liability
Comprehensive General
Liability
Owners', Landlords', and
Tenants' Liability
Rental Buildings-
Industrial
Airport Terminal and
Rental Buildings
Vehicles and Equipment
Public Employees
Blanket Bond
SALINA AIRPORT AUTHORITY
INSURANCE IN FORCE
December 31,1983
Type of Coverage
Bodily injury and
property damage
Bodily injury and
property damage
Fire and lightning,
extended coverage,
vandalism and malicious
mischief-rental value
insurance
Fire and lightning,
extended coverage,
vandalism and malicious
mischief
Liability
Physical damage
Medical payments
Uninsured motorists
Honesty blanket
position bond coverage
Amount of Co-Insurance
Coverage Percentage
$ 100,000.00
500,000.00
500,000.00
566,510.00
3,003,000.00
90%
500,000.00
480,089.00
2,000.00
25/50,000.00
100,000.00
24