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Home My WebLink About1978 09 30 Audited Financial Report - City of Friendswood F I I I AUDITED FINANCIAL STATEMENTS - REVENUE SHARING FUND ' CITY OF FRIENDSWOOD FRIENDSWOOD, TEXAS September 30, 1978 1 I I I F CONTENTS Page Accountants' Report 3 Statement of Changes in Available Funds 4 Statement of Obligations Incurred 5 Summary of Data Submitted to Bureau of the Census 6 Accountants' Report on Compliance 7 11 11 -2- LAIRSON YOUNG c5 F/A,N LelIRSON, YOUNG 8 FITCH CERTIFIED PUBLIC ACCOUNTANTS MEMBERS 1425 CAPITAL NATIONAL BANK BLDG. AMERICAN INSTITUTE OF HOUSTON,TEXAS 77002 CERTIFIED PUBLIC ACCOUNTANTS 713-658-1745 ;r. Honorable Mayor and 11 City Councilmen City of Friendswood, Texas 11 We have examined the Revenue Sharing Fund Statements of Changes in Available 11 Funds and Obligations Incurred of the City of Friendswood, Texas for the year ended September 30, 1978, and have compared the financial data included on Bureau of Census Form RS-9 with audited records of the City of Friendswood, Texas for the year ended September 30, 1977. Our examination was made in accordance with generally accepted auditing standards and the "Audit Guide and Standards for Revenue Sharing Recipients" issued by the Office of Revenue Sharing, U. S. Department of the Treasury, and accordingly included such !I tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. !I In our opinion, the Statements of Changes in Available Funds and Obligations Incurred present fairly the revenue, expenditures, obligations incurred and status of revenue sharing funds of the City of Friendswood, Texas for the year ended September 30, 1978, in conformity with generally accepted account- ing principles applied on a basis consistent with that of the preceding year. Further, financial data included on Bureau of Census For RS-9 for the year ended September 30, 1977 is in agreement with audited records of the City of 1 Friendswood, Texas. 11 AAA4-611 ) !! Houston, Texas December 8, 1978 !! !! I! -3- II STATEMENT OF CHANGES IN AVAILABLE FUNDS il CITY OF FRIENDSWOOD, TEXAS - REVENUE SHARING FUND Year ended September 30, 1978 11 II Per Books Adjustments Adjusted IIAvailable funds, beginning of year Unappropriated $ -0- $-0- $ ; -0- Unencumbered appropriations 49,278 -0- 49,278 11 49,278 -0- 49,278 II Add revenue Entitlement payments 67,281 -0- 67,281 Interest 3,999 -0- 3,999 II 120,558 -0- 120,558 Less unappropriated, end of year -0- -0- -0- II Available for obligations during year 120,558 -0- 120,558 11 Less Expenditures 29,425 -0- 29,425 Encumbrances (net) -0- -0- -0- 11 TOTAL OBLIGATIONS INCURRED 29,425 -0- 29,425 Unencumbered balance, end of year 91,133 -0- Unappropriated, end of year -0- -0- -0- AVAILABLE FUNDS, END OF YEAR $91,133 $-0- $91,133 !! ____ II I! 11 II -4- LAIRSON YOUNG 6 FI7OH STATEMENT OF OBLIGATIONS INCURRED . CITY OF FRIENDSWOOD, TEXAS - REVENUE SHARING FUND Year ended September 30, 1978 I Per Books Adjustments Adjusted Capital expenditures • Multipurpose and general government Water system improvements $21,032 $-0- $21,032 Public transportation 8,393 -0- 8,393 TOTAL EXPENDITURES $29,425 -0- $29,425 TOTAL OBLIGATIONS INCURRED $29,425 $-0- $29,425 -5- LA/RSON, YOUNG FITCH IISUMMARY OF DATA SUBMITTED TO BUREAU OF THE CENSUS CITY OF FRIENDSWOOD, TEXAS - REVENUE SHARING FUND I! Year ended September 30, 1978 I II Reported Audit IIto Census Adjustments Adjusted 1 PART I 1. Property taxes $970,012 $-0- $970,012 2. Local sales taxes a. General sales 119,044 -0- 119,044 II b. Gasoline tax -0- -0- -0- c. Liquor tax -0- -0- -0- d. Cigarette and tobacco taxes -0- -0- -0- 1 e. Public utilities tax 63,229 63,229 f. Other -0- -0- -0- 3. Licenses, permits and other taxes II a. Income, payroll or earning tax (local) -0- -0- -0- b. Motor vehicle licenses (local) -0- -0- -0- c. Fees retained from tax - - _ II collections by officials of your government 0 -0- 0- d. Other - licenses and permits 46,541 -0- 46,541 II4. Taxes for education -0- -0- -0- II Part II From State Government 3,116 -0- 3,116 11 From Federal Government 6. State and Local Fiscal Assistance Act of 1972 (Federal General II Revenue Sharing Program) 43,204 -0- 43,204 7. All other - Environmental Protection Agency reimbursement IIgrants and other grants 337,584 -0- 337,584 I! 11 II -6- 1 LAIRSON YOUNG e FITGH LfIlRSON, YOUNG 8 PITCH CERTIFIED PUBLIC ACCOUNTANTS MEMBERS 1425 CAPITAL NATIONAL BANK BLDG. AMERICAN INSTITUTE OF HOUSTON,TEXAS 77002 CERTIFIED PUBLIC ACCOUNTANTS 713-658-1745 1! • 11 ACCOUNTANTS' REPORT ON COMPLIANCE 11 Honorable Mayor and 11 City Councilmen City of Friendswood, Texas 11 We have examined the Revenue Sharing Fund Statements of Changes in Available Funds and Obligations Incurred of the City of Friendswood, Texas for the year ended September 30, 1978 and have compared the financial data included on 11 Bureau of Census Form RS-9 with the audited records of the City of Friendswood, Texas for the year ended September 30, 1977. Our report thereon was issued on November 30, 1976. Our examination was made in accordance with generally 11 accepted auditing standards and the "Audit Guide and Standards for Revenue Sharing Recipients" issued by the Office of Revenue Sharing, U. S. Department of the Treasury, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circum- 11 stances. As a part of our examination, we made a study of those internal accounting 1! and administrative control procedures and compliance matters that we consid- ered relevant to the criteria established by the Office of Revenue Sharing as set forth in Section V.D. of its "Guide". !I Our study, which related to the requirements cited above, disclosed no condi- tions which we consider ,matters of non-compliance. 11 �I%'��rC/ !I JO/MO v Houston, Texas 1 December 8, 1978 mi I !I -7-