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Home My WebLink AboutAudit Report September 30 1962OF F 3 C A L COPY INDEX Accountants' Opinion Comments Page 1 2-3 Statement of Financial Condition 4 Statement of Surplus 5 Statement of Receipts and Disbursements 6-8 Schedule of Physical Properties 9-11 Schedule of Insurance in Force 12 WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS LLOYD J. WEAVER D. WAYNE TIDWELL J. T. BARTEE FRED A. STEIN TOMMIE E. RODDY, JR. WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OP THE AMERICAN INSTITUTE OP CERTIiIED PUBLICACCOUNTANTS SINCLAIR BUILDING FORT WORTH, TEXAS January 21, 1963 Honorable Mayor and City Council City of Euless Euless, Texas We have examined the statement of financial condition of the CITY OF EULESS EULESS, TEXAS as of September 30, 1962, and the related statements of receipts and disbursements and statement of surplus for the nine months ended September 30, 1962. Our examination was made in accordance with generally accepted auditing standards and accordingly 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, statement of receipts and disbursements and state- ment of surplus present fairly the financial position of the City of Euless at September 30, 1962, and the results of its operations for the nine months then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. WEAVER AND TIDWELL Certified Public Accountants Page 2 COMMENTS Cash on hand consisted of revenues received in September, 1962, which were deposited in October. The actual deposit of these funds was verified. Cash in bank balances were independently confirmed and found to be correct. Cash on hand and in bank showed a net decrease for the nine months ended September 30, 1962, of $17,125.80. Total taxes assessed for 1962 were $95,266.92, based on a valua- tion of $13,609,560.00. The tax rate remained at $.70 per one hundred dollars valuation. The actual issuance of tax statements was made after the close of the period under audit. However, information con- cerning the amount of the assessment and valuation is included in this report in order to make it more informative. A summary of taxes assessed but uncollected as of September 30, 1962 follows: Collected Year Assessment This Year 1958 1959 1960 1961 1962 $20,960.30 31,189.75 43,617.85 72,942.10 95,266.92 $ 139.25 381.85 828.42 15,158.42 13.16 Balance Percent Uncollected $ 1,291.50 1,993.05 3,349.55 5,070.38 95,253.76 Uncollected 6.16 % 6.39 7.68 6.95 99.99 The city purchased the following physical properties during the audit period: Filing Cabinet, Legal Size SB-2 Fireball Lights, 12 Volt, Red - (2) Cap-Chur Kit (Chemical Rifle) #20.L Cosco Chairs, Brown on Brown (2) Victor Adding Machine, Serial #1892-869 Partition in Community Center 5 Ton Lennox Central Heating and Air Conditioning Unit, Installed 1962 Ford Galazie #2D52Z-134756 P. 0 Box Total Equipment Purchased Less: Equipment Stolen or Retired from Use and Equipment Traded in: Cost 61.46 91.15 240.15 45.00 228.60 80.00 1,200.00 2,172.82 50.00 $4,169.18 WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEHBERS OFTHE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 3 Comments -2- Model 11 - 48R Remington Riot Gun $ 85.92 Burroughs Adding Machine Serial #P302326D Gibson Air Conditioner Heat Wave Air Conditioner 324.00 160.85 1,275.00 Total 1,845.77 Net Increase in Value of Physical Properties $2.323.41 The Euless fire department was given a 1957 Ford six passenger country sedan, serial number #D7DX-220989 at no cost to the city. Physical properties owned by the City of Euless were scheduled and the schedules are made a part of this report. Insurance coverage was also examined and the insurance in force was scheduled. The City of Euless was indebted to the Hurst State Bank in the amount of $17,821.59 as of September 30, 1962. This indebtedness is the same amount which appeared on our statement of financial condition for the fiscal period ended September 31, 1961. Our examination revealed that the system of record keeping in use at the city of Euless was greatly improved over the condition at the time of our previous audit. For this improvement we feel the credit is due to the efforts of Mr. McAdoo. We discussed the present account- ing system in use with Mr. McAdoo and with Mr. Condron, the city manager, especially with regard to establishing a system which may be expanded easily to meet the growth of the city, and with the express purpose in mind of establishing one that would enable the officials and salaried personnel of the city to obtain prompt, accurate, finan- cial reports at a minimum cost. We wish to thank the personnel of the City of Euless, City Hall, for their cooperation in our audit. WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS ASSETS Current Assets Cash in Bank - Hurst State Bank Cash in Bank - First State Bank of Euless Cash on Hand Taxes Receivable - 1958 Taxes Receivable - 1959 Taxes Receivable - 1960 Taxes Receivable - 1961 Taxes Receivable - 1962 Insurance Receivable - Employees Returned Checks held for Collection Total Current Assets. Physical Properties Police Department Equipment Fire Department Equipment Office Equipment General Equipment Motorized Equipment Community Center and Jail Total Physical Properties Total Assets $ 540.26 1,415.64 4,196.37 1,291.50 1,993.05 3,349.55 5,070.38 95,253.76 15.40 43.00 $ 4,060.61 781.00 2,547.15 564.00 44,628.32 15,405.61 CITY OF EULESS GENERAL FUND STATEMENT OF FINANCIAL CONDITION SEPTEMBER 30, 1962 $113,168.91 67,986.69 $181.155.60 LIABILITIES Current Liabilities, Withheld Taxes Payable Bond Deductions from Salaries Notes Payable ._ Hurst State Bank Bank Overdraft .- First National Bank of Euless Total Current Liabilities _SURPLUS Surplus Balance, September 30, 1962 Total Liabilities and Surplus. $ 1,407.00 10.56 17,821.59 1,167.76 Page 4 $ 20,406.91 160,748.69 .8181155.60, WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OFTNE AMERICAN INSTITUTE OF CERTIFiEO PUBUCACCOUNTANTS Page 5 CITY OF EULESS GENERAL FUND STATEMENT OF SURPLUS SEPTEMBER 30. 1962 Surplus Balance, January 1. 1962 Add: Physical Properties Purchased Liabilities Liquidated Taxes Assessed, not Collected Returned Checks held for Collection Total Additions Sub -Total Deduct: Excess of Disbursements over Receipts Prior Year Tax Accruals Collected Equipment Charged Off Adjustment to Tax Assessment for Prior Years Employees Insurance Collected Total Deductions Surplus Balance, September 30, 1962 $ 4,169.18 72.90 95,253.76 43.00 $17,125.80 16,507.94 1,845.77 835.07 5.00 $ 97,529.43 99.538.84 $197,068.27 36.319.58 5160748.69 WEAVER AND TIDWELL CERTIFIED 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 NINE MONTHS ENDED SEPTEMBER 30, 1962 RECEIPTS Employee's Insurance Collected Franchises Southwestern Bell Telephone $ 2,091.64 Texas Power and Light 5,367.72-- Lone Star Gas Company 2,284.85- Garbage 371.87 Texas Electric Service Company 195.58- Municipal Service Company 2,361.97' Tri-City Cab Company 20.12 $ 5.00 Total Franchises 12,693.75 Permits Issued Building $ 4,117.00 Street Paving 1,038.30 Plumbing 3,716.25 Electrical 4,299.15 Heating and Air Conditioning 739.50 Miscellaneous 89.00 Total Permits 13,999.20,-- Tax Revenues 1958 Assessment 1959 Assessment 1960 Assessment 1961 Assessment 1962 Assessment $ 139.25 381.85 828.42 15,158.42 13.16 Total Tax Revenues 16,521.10-- Police Department Income 11,673.45- Other Income County Fire Assistance Penalties and Interest Electrical Licenses Solicitors' Licenses Dog Pound Miscellaneous $ 1,400.00- 438.30-' 175 .00•- 305.00- 112.00" 249.03- Total Other Income 2,679.33 Total Receipts $57,571.83 WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 7 CITY OF EULESS GENERAL FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1962 Physical Properties Purchased Police Department Equipment Office Equipment Motorized Equipment Community Center DISBURSEMENTS $ 392.76 168.60 2,222.82 1,280.00 Total Physical Properties Purchased Liabilities Liquidated Returned Checks Held for Collection Dperating Expenses Police Salaries $32,172.32•- Police Gas and Oil 2,278.01.- Police Automobile Maintenance 1,549.72- Police Radio Maintenance 304.47= Police Uniforms 554.56- Police General Expenses 1,215.91" Salaries 10,670.21-- Public Works General Expenses 3,229.75-' Fire Department General Expenses 2,037.01-' Corporation Court Expense 444.79- Employee Expense Allowances 1,470.50- Tax Assessment and Collection Expense 3,698.86. Master Plan 2,500.00' Audit 825.00 Utilities 3,946.81• Legal Expense 2,703.63-- Civil Defense 68.04- Office Supplies 593.44-- Insurance 21.00' Engineering Fees 132.02- Loss on Returned Checks 101.50`' Total Operating Expenses C'otal Cash Disbursed Excess of Disbursements Over Receipts $ 4,064.18 72.90 43.00 70,517.55 74,697.63 $17,125.80 WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 8 CITY OF EULESS GENERAL FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1962 xcess of Disbursements Over Receipts $17,125.80 ash Account, January 1, 1962 ash Account, September 30, 1962 omposition of Cash Account Cash on Hand $ 4,196.37 Cash in First State Bank of Euless 1,415.64 Cash in Hurst State Bank 540.26 Cash in First National Bank of Euless ( 1,167.76) 22,110.31 $ 4,984.51 Total $ 4,984.51 WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 9 CITY OF EULESS SCHEDULE OF PHYSICAL PROPERTIES SEPTEMBER 30, 1962 General Equipment Stoves, five, 4-30-55 $ 53.50 Folding Steel Chairs, fifty, 7-27-57 125.00 Water Fountain, 9-9-57 89.25 Coolerator Air Conditioner, 2 Ton, 9-10-58 248.88 3'x5' U. S. Flag, with stand, pole, eagle, cord and tassel set 24.39 3'x5' Texas Flag, with stand, pole, spear, cord and tassel set 22.98 Total $ 564.00 Kotorized Equipment - Fire Department Ford, 135 Cab Chassis Fire Truck Motor #C-87R8U15521, 11-12-58 $ 6,075.49 Pirsch - Ford 750 gal. Pumping Engine 11,203.00 Leece - Neville Alternator 100 Amp. 280.00 #481 Akron Gated Wye, 2 1/2 x 1 1/2 x 1 1/2, brass 47.59 250 Watt Transformer, with one 110 volt outlet 35.00 1960 Ford C-850 Cab and Chassis 3-8-60 C85RVU29648 6,277.00 Heater for 1960 Ford Truck 47.70 Pirsch 750 G P M triple Combination Pumping Engine 12,059.80 1957 Ford Station Wagon, Motor no. D7DX-220989 (No Cost) -0- Total $36,025.58 Motorized Equipment - Police Department 1950 Chevrolet Pick-up, Motor #HBA-110681 1951 Ford Truck, 158"cc, Motor #F5R1KL-15076 1961 Fairlane Ford, Motor #1D32Z-137488 1962 Ford Galaxie, Motor #2D52Z-112476 1962 Ford Galaxie, Motor #2D52Z-134756 Total $ 373.00 -0- 2,172.13 2,214.23 2,172.82 $ 6,932.18 WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OFTME AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 10 CITY OF EULESS SCHEDULE OF PHYSICAL PROPERTIES SEPTEMBER 30, 1962 Motorized Equipment - Inspection Department 1962 Ford Truck, Motor #F10JD-221125 Tool Box $ 1,620.56 50.00 Total $ 1.670.56 Police Department Equipment 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 All Purpose Finger Print Kit, 7-31-58 Model 33 Speedometer Radar Unit, 4-20-58 Base Radio Station, 8-2-58 T5199V FM Transmitter Receiver Dual Channel with 50-60 Watts full R. F. power output, 8-31-60 Filing Cabinet, 5-26-61 Legal Size File Cabinet, Hon #314 CP, 6-5-62 Cap-Chur Kit (Chemical Rifle), 2-13-62 FB-2 Fireball Lights, 12 Volt, Red, (2), 2-7-62 $ 305.00 157.00 25.00 39.50 69.68 1,297.00 1,111.72 620.00 42.95 61.46 240.15 91.15 Total S 4.060.61 Fire Department Equipment 2 Nozzles, 11-22-55 Equipment for Fire Marshall's Car Battery Charger, 11-19-60 7 1/2 HP 3 Phase Siren, 3-1-61 $ 118.52 66.60 57.38 538.50 Total $ 781.0Q Office Equipment Desk, Table, Chair, 8-6-55 Royal Typewriter #KHN-1908574, 10-30-57 7 Drawer Used Check File, 11-18-58 Gray Letter File, 1-29-58 $ 185.50 75.00 55.00 65.45 WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS CITY OF EULESS SCHEDULE OF PHYSICAL PROPERTIES SEPTEMBER 30, 1962 Office Equipment - Continued 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, 8, #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 #251977, 5-1-59 Mimeograph Cabinet A. B. Dick Model, 48-SD,5-1-59 Drafting Stool #624, 1-25-60 File, #29DD, 1-25-60 Side Chair, Brown, #20, 1-25-60 Posts and Rail for Court, 4-15-59 Office Safe, 4-30-60 Electric Typewriter, Royal, S W #13-6817518 #20L Cosco Chairs, brown on brown (2) , 2-6-62 Victor Adding Machine, #1892-869 4-20-62 Page 11 $ 21.50 189.50 143.50 470.40 263.90 26.00 35.00 283.00 48.10 28.34 54.35 29.70 66.81 32.50 200.00 45.00 228.60 Total $ 2,547.15 WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS Page 12 Aetna Insurance Company Aetna Insurance Company Aetna Insurance Company Aetna Insurance Company Aetna Insurance Company Aetna Insurance Company Policy Number C5354953 66-78-25 C5354951 S51-78-84 S51-78-85 S51-77-22 CITY OF EULESS SCHEDULE OF INSURANCE IN FORCE SEPTEMBER 30, 1962 Effective Date 2-22-62 9-10-58 10- 8-61 Expiration Date 2-22_63 9-10-63 Coverage 1951 Ford Fire Truck Combined Additional Coverage Fire, Lightning and Transportation Theft Fire, Lightning and Extended Coverage on City Hall and Fire Station 10- 8-62 1958 Ford Fire Truck with Peter Pirsch Body and Equipment (2)1960 Ford Fire Trucks with Pirsch Body and Equipment Bodily Injury Bodily Injury Property Damage Collision 5- 1-62 5- 1-63 5- 1-62 5- 1-63 8- 8-62 8- 8-63 Peter Fire, Lightning and Transportation Theft Combined Additional Coverage Public Officials Bond - G. D. McAdoo, Jr. Public Officials Bond - Marguerite C. Thompson Public Officials Bond - W. M. Sustaire Limits $10,000.00 5,000.00 10,000.00 5,000.00 1,000.00 1,000.00 1,000.00 A.C.V. A.C,V. A.C.V. Each Person Each Accident Each Accident A.C.V. Less $100.00 A.C.V. A.C.V. A.C.V. Premium $ 5.00 64.80 452.64 5.00 5.00 5.00 WEAVER AND TIDWELL CERTIFIED PUBLIC ACCOUNTANTS MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS