The URL can be used to link to this page

Home My WebLink AboutAudit Report January 31 1960,Of IFICAL OiPY CITY OF EULESS AUDIT REPORT JANUARY 31, 1960 WEAVER AND ,TIDWELL VFiBTIFIED PLT3LI6--acaouNTgNT3' - MEMBERS OF TNE"AMERICAN, MST] TUTE OF CERTIFIED PUBLIC ACCOUNTANTS W. T, WAGGONER- BIIILDING LLOYD J. WEAVER D. WAYNE TIDWELL J. T. BA RTEE FRED A. STEIN TOMMIE E. RODDY, JR. WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS W. T. WAGGONER BUILDING FORT WORTH, TEXAS February 29, 1960 Honorable Mayor and City Council City of Euless, Texas We have examined the statement of financial condition of the General Fund of the City of Euless, Texas, as of January 31, 1960, and the related statements of receipts and disbursements and statement of surplus for the eleven months January 31, 1960. Our examination was made in accordance with generally accepted auditing standards and ac- cordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the accompanying statement of financial condition and statements of receipts and disbursements and statement of surplus present fairly the financial position of the City of Euless at January 31, 1960, and the results of its operations for the eleven months then ended, in conformity with generally accepted accounting principles consistently applied. 2409.--e-1-4e /-ejeZ-Ite WEAVER AND TIDWELL Certified Public Accountants Page 2 C OMMENTS Cash in bank balances were independently confirmed with the de- pository bank and found to be correct. Cash receipts were traced from their source through the journals and into the depository bank. At the beginning of the period under audit there was outstanding $4,249.33 in the uncollected taxes for 1958, the first year taxes were assessed. In 1959, the tax assessment after corrections, was $31,189.75, an increase of $10,229.45 over the assessment for 1958. This amounted to a 48.80 percent increase. From March 1, 1958 through January 31, 1959 collections were $1,981.63 for 1958 and $24,966.88 for 1959, less discounts allowed. Collections on the 1958 tax roll to January 31, 1960 are 89.18 percent, and on the 1959 tax roll are 80.05 percent. All checks issued by the City of Euless from March 1, 1959 to January 31, 1960 were examined. Physical Properties were scheduled, and the schedules are a part of this report. Insurance coverage was also examined and scheduled. The City of Euless is indebted to the Hurst State Bank for two notes. The existence of these notes and the current balances were in- dependently confirmed by us with the Hurst State Bank. Building permits were examined, and all permits issued during the eleven months, beginning with no. 705 and continuing through no. 1042 were reconciled to the income shown by the records of the city. Under the system now in use, permits are numbered when issued. We recommend that prenumbered permit blanks be purchased to elimate the possibility of duplication on numbers. No discrepancies were noted in the accounts of the City of Euless. We wish to express our appreciation to the employees of the city for their cooperation with us. WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 3 CITY OF EULESS GENERAL FUND STATEMENT OF FINANCIAL CONDITION JANUARY 31, 1960 ASSETS LIABILITIES Current Assets Current Liabilities Cash on Hand $ 16.00 Cash in Bank, General Fund 5,205.53 Cash in Bank, Interest and Sinking Fund 835.01 Taxes Receivable, 1958 2,267.70 Taxes Receivable, 1959 6,222.87 Total Current Assets $14,547.11 Withheld Taxes Payable Notes Payable - Hurst State Bank $ 206.30 10,278.49 Total Current Liabilities $10,484.79 Physical Properties SURPLUS Police Department Equipment Office Equipment General Equipment Motorized Equipment Fire Department Equipment Community Center and Jail $ 3,698.75 2,365.05 1,999.85 22,816.16 185.12 14,125.61 Total Physical Properties 45,190.54 Other Assets, Advances to Employees - Net 2.70 Total Assets $59,740.35 Surplus Balance, January 31, 1960 49,255.56 Total Liabilities and Surplus $59,740.35 WEAVER. AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 4 CITY OF EULESS GENERAL FUND STATEMENT OF SURPLUS JANUARY 31, 1960 Surplus Balance, March 1, 1959 Add: Excess of Receipts over Disbursements Physical Properties Purchased Liabilities Liquidated Taxes Assessed, Not Collected Total Additions Deduct: Assets Liquidated 1958 Tax Accruals Collected Advances to Officers Reduction Total Deductions Surplus Balance, January 31. 1960 $ 751.51 5,157.57 5,043.30 6,222.87 $1,981.63 121.30 $34,183.24 17,175.25 $51,358.49 2,102.93 $49,255.56 WEAVER AND TIDWELL CERTIFIED PUBLIO ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 5 CITY OF EULESS GENERAL FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS FOR THE PERIOD FROM MARCH 1. 1959 TO JANUARY 31, 1960 Receipts (See Note) Franchises Southwestern Bell Telephone Co. $ 444.99 Texas Power and Light Company 1,783.72 Texas Electric Service Company 62.45 Garbage and Other 199.75 Total Franchises Permits Issued Dog Licenses Tax Revenues, 1958 Tax Revenues, 1959 Less Discounts Allowed Net 1959 Tax Revenues Tax, Interest and Penalties Police Department Revenues Miscellaneous Revenues Total Receipts Disbursements Physical Properties Purchased Office Equipment General Equipment Motorized Equipment Total Liabilities Liquidated Less Liabilities Assumed Net Operating Expenses Paid Police Department Salaries Gas and Oil Automobile Maintenance Radio and Radar Repairs Miscellaneous Expense Uniform Allowance Chief's Expense Allowance Total Police Expense Office Salaries Fire Marshall's Salary Tax Roll Expense Utilities Telephone Office Supplies Miscellaneous Expense $24,966.88 643.00 $ 1,559.10 1,322.37 2.276.10 $ 5,249.60 332.60 $18,123.29 2,258.37 991.16 248.30 1,847.12 250.00 1,200.00 $24,918.24 4,577.77 97.50 381.50 2,424.94 318.33 1,025.49 25.79 $ 2,490.91 4,800.75 6.00 1,981.63 24,323.88 193.02 15,072.50 136.00 $ 5,157.57 4,917.00 $49,004.69 WEAVER AND TIDWELL GERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 6 CITY OF EULESS GENERAL FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS_ FOR THE PERIOD FROM MARCH 1, 1959, TO JANUARY 31, 1960 Disbursements Operating Expenses Paid - Continued Interest Expense $ 919.97 Postage 98.69 Insurance Expense 250.32 Audit Fee 245.25 Animal Control 128.05 Election Expense 325.60 Miscellaneous Labor 121.70 Building Maintenance 389.80 Equipment Repairs 67.30 Dues 69.70 Street Signs 611.40 Repairs to Fire Equipment 1,168.27 Returned Checks 8.00 Total Expenses Advance to Fire Marshall Total Disbursements Excess of Receipts over Disbursements Cash Account, March 1, 1959 Cash Account, February 28, 1960 $38,173.61 5.00 Composition of Cash Account Cash on Hand $ 16.00 Cash in Bank - General Fund 5,205.53 Cash in Bank - Interest and Sinking Fund 835.0.1 Total 48,253.18 $ 751.51 5,305.03 $ 6,056.54 $ 6,056.54 NOTE: Due to the small number of employees presently required to transact the business of the city, a system of internal control which would insure that all funds received were properly receipted and account- ed for has not been possible. Our audit revealed no indications that all receipts were not properly deposited to the account of the City of Euless in the depository bank, however. WEAVER AND TIDWELL CENTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 7 CITY OF EULESS SCHEDULE OF PHYSICAL PROPERTIES JANUARY 31, 1960 General Equipment Installation of Air Conditioner Stoves, five, 4-30-55 Folding Steel Chairs, fifty, 7-27-57 Gibson Air Conditioner, 1 fan, 7-5-57 Water Fountain, 9-9-57 Coolerator Air Conditioner, 2 ton, 9-10-58 Heatwave Air Conditioner, Installed, 6-30-59 3'x5' U.S. Flag, with stand, pole, eagle, cord and tossel set 3'x5' Texas Flag, with stand, pole, spear, cord and tossel set Total Motorized Equipment Ford, 135 Cab Chassis Fire Truck, Motor No. C-87R8U15521, 11-12-58, Cost Pirsch - Ford 750 gal. Pumping Engine 100 Amp Leece - Neville Altemotor #481 Akron Gated Wye, 2 1/2 x 1 1/2 x 1 1/2, Brass 250 Watt Transformer, with one 110 volt outlet Total 1959 Custom 300, 2 door Ford Patrol Car, #H9DG 108039 1959 Custom 300, 2 door Ford Patrol Car, #H9DG 180923, 8-19-59 1950 Chevrolet Pick Up, Motor No. HBA-1106861 1951 Ford Truck, 158" cc, Motor No. F5R1DL-15076 Total Fire Department Equipment 2 Nozzles, 11-22-55 Equipment for Fire Marshall's Car 1-5-57 Total $ 60.85 53.50 125.00 100.00 89.25 248.88 1,275.00 24.39 22.98 $ 6,075.49 11,203.00 280.00 47.59 35.00 $17,641.08 2,525.98 2,276.10 373.00 -0- $ 118.52 66.60 $ 1,999.85 $22,816.16 $ 185.12 WEAVER AND TIDWELL GERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 8 CITY OF EULESS SCHEDULE OF PHYSICAL PROPERTIES JANUARY 31, 1960 Police Department Equipment Traffic Signs 12 Signs, 2-15-57 1 Sign, 7-10-57 2 Signs, 9-6-57 2 Signs, 9-26-57 20 Signs, 10-9-57 6 Signs, 2-24-58 6 Signs, 3-26-58 40 Signs, 12-26-58 2 Signs, 12-16-57 2 Way Radio, Motorola Dual Channel, 12 volt, Serial #391293, 8-30-57 Desk, Chair and File Cabinet for Police Chief's office, 8-30-57 Fire Extinguisher for Patrol Car, 9-11-57 Morrow Conelrad Radio Receiver, 12-12-57 Model 11-48R Remington Riot Gun, Grade 20" barrel, autoloading, 12 guage, Serial #5157977, 9-19-58 All purpose Finger Print Kit, 7-31-58 Model 33 Speedometer Radar Unit, 4-20-58 Base Radio Station, 8-2-58 $ 81.13 6.10 12.79 12.79 127.29 25.38 41.95 273.04 27.46 305.00 157.00 25.00 39.50 85.92 69.68 1,297.00 1,111.72 Total $ 3,698.75 Office Equipment Desk, Table, Chair, 8-6-55 Royal Typewriter, #KHN-1908574, 10-30-57 7 Drawer Used Check File, 11-18-58 Burroughs Adding Machine, Serial No. P-302326D, 9-12-58 Gray Letter File, 1-29-58 C-3352 Gray Card File, with guides, 1-15-58 Royal Typewriter, 19" Carriage, 2-24-59 Judges' Chair, Stationers #4200, 4-20-59 Swivel Arm Chairs, eight, #830, 4-20-59 Conference Table, #6203P, 4-20-59 Secretarial Chair, #711, 4-24-59 Judges' Stand, 4-30-59 Mimeograph, A B Dick Model #416, Serial No. 251977, 5-1-59 Mimeograph Cabinet, A B Dick #48-SD, 5-1-59 File, #29DD, 1-25-60 Side Chair, Brown, #20, 1-25-60 Drafting Stool, #624, 1-25-60 Posts and Rail for Court, 4-15-59 $ 185.50 75.00 55.00 324.00 65.45 21.50 189.50 143.50 470.40 263.90 26.00 35.00 283.00 48.10 54.35 29.70 28.34 66.81 Total $ 2,365.05 WEAVER AND TIDWELL GRATIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 9 Company Aetna Insurance Company Aetna Insurance Company Aetna Insurance Company Aetna Insurance Company Aetna Insurance Company Policy Number 66-78-25 C5354936 C5354930 C5354934 S420630 S420588 S420530 S420531 Effective Date 9-10-58 10- 8-59 2-22-59 8-10-59 5- 1-59 3-14-59 2- 3-59 2- 3-59 CITY OF EULESS SCHEDULE OF INSURANCE IN FORCE JANUARY 31. 1960 Expiration Date 9-10-63 10- 8-59 2-22-60 8-10-60 5- 1-60 3-14-60 2- 3-60 2- 3-60 Coverage Fire, Ligntning, and Extended on City Hall and Fire Station 1958 Ford Fire Truck with Peter Pirsch Body and Equipment Bodily Injury Property Damage Collision or Upset Fire, Lightning, or Transportation Theft Combined Additional Coverage 1951 Ford Fire Truck Combined Additional Coverage Fire, Lightening and Transportation Theft 1959 Ford Custom 300, H9DG101039 1959 Ford Custom 300, H90G180923 Bodily Injury Property Damage Comprehensive Collision Public Official Bond - City Secretary - Treasurer Public Official Bond - Patrolman Public Official Bond - Fire Chief Public Official Bond - Secretary - Treasurer, Volunteer Fire Department Limits of Liability $10,000.00 5,000.00 10,000.00 5,000.00 A.C.V. 17,425.00 17,425.00 17,425.00 A.C.V.) A.C.V.) A.C.V.) Each Each Each Less Person Accident Accident $100.00 5,000.00 Each Person 10,000.00 Each Accident 5,000.00 Each Accident A.C.V. A.C.V. 1,000.00 1,000.00 1,500.00 1,500.00 Premium $ 64.80 56.00 57.00 79.20 16.99 6.53 19.60 5.00 109.82 111.78 52.68 141.92 5.00 5.00 3.75 7.50 WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS