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HomeMy WebLinkAboutAnnual Expenditure Limitation Report June 30, 2005 TOWN OF MARANA, ARIZONA REPORT ON AUDIT OF ANNUAL EXPENDITURE LIMITATION REPORT YEAR ENDED JUNE 30, 2005 TOWN OF MARANA, ARIZONA REPORT ON AUDIT OF ANNUAL EXPENDITURE LIMITATION REPORT YEAR ENDED JUNE 30, 2005 CONTENTS PAGE Independent Auditors' Report 1 Annual Expenditure Limitation Report - Part I 2 Annual Expenditure Limitation Report - Part II 3 Annual Expenditure Limitation Report - Reconciliation 4 Note to Annual Expenditure Limitation Report 5 ~ HEINFELD, MEECH & CO., P.C. IlS,'f.l. CERTIFIED PUBLIC ACCOUNTANTS Gary Heinfeld, CPA, CGFM Nancy A. Meech, CPA, CGFM Jennifer L. Shields, CPA Corey Arvizu, CPA Scott W. Kies, CPA 10120 N. Oracle Road Tucson, Arizona 85704 (520) 742-2611 Fax (520) 742-2718 www.heinfeldmeech.com INDEPENDENT AUDITORS' REPORT The Auditor General of the State of Arizona and The Honorable Mayor and Town Council ofthe Town of Marana, Arizona We have audited the accompanying Annual Expenditure Limitation Report ofthe Town of Maran a, Arizona for the year ended June 30, 2005. This report is the responsibility ofthe Town of Maran a, Arizona's management. Our responsibility is to express an opinion on this report based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the report is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the report. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall report presentation. We believe that our audit provides a reasonable basis for our opmlOn. The accompanying Annual Expenditure Limitation Report was prepared for the purpose of complying with the uniform expenditure reporting system as discussed in Note I, and is not intended to be a presentation in conformity with accounting principles generally accepted in the United States of America. In our opinion, the Annual Expenditure Limitation Report of Town ofMarana, Arizona, for the year ended June 30, 2005, referred to above presents fairly, in all material respects, the information required by the uniform expenditure reporting system on the basis of accounting described in Note 1. This report is intended solely for the information and use of management and for filing with the Auditor General ofthe State of Arizona, and is not intended to be and should not be used by anyone other than these specified parties. H~~, M~ ~ (~. Ipe HEINFELD, MEECH & CO., P.e. Certified Public Accountants December 9,2005 TOWN OF MARANA, ARIZONA ANNUAL EXPENDITURE LIMITATION REPORT - PART I YEAR ENDED JUNE 30, 2005 1. Economic Estimates Commission expenditure limitation $ 6,752,162 2. Voter-approved alternative expenditure limitation (approved May 15,2001) See Note 1 89,573,243 3. Amount subject to the expenditure limitation (total amount from Part II, Line C) 55,790,267 4. Amount under the expenditure limitation $33,782,976 I hereby certify, to the best of my knowledge and belief, that the information contained in this report is accurate and in accordance with the requirements of the uniform expenditure reporting system. Signature of Chief Fiscal Officer: ~ d ..w--y Name and Title: Roy Cuaron. Finance Director Telephone Number: (520) 382-1900 Date: December 9.2005 See accompanying note to report. Page 2 TOWN OF MARANA, ARIZONA ANNUAL EXPENDITURE LIMITATION REPORT - PART II YEAR ENDED JUNE 30, 2005 DescriDtion Governmental Funds A. Amounts reported on the Reconciliation, Line D $ 53,650,888 B. Less exclusions claimed:. C. Amount subject to the expenditure limitation $ 53,650,888 Enterprise Funds $ 2,139,379 $ 2,139,379 · Exclusions do not apply to the Town of Maran a, Arizona's annual expenditure limitation report due to the voter-approved alternative expenditure limitation adopted May 15, 2001. Page 3 See accompanying note to report. Total $ 55,790,267 $ 55,790,267 TOWN OF MARANA, ARIZONA ANNUAL EXPENDITURE LIMITATION REPORT - RECONCILIATION YEAR ENDED JUNE 30, 2005 Governmental Enterprise Description Funds Funds Total A. Total expenditures/expenses/deductions and applicable other financing uses, special items and extraordinary items reported in the basic financial statements $ 53,650,888 $ 2,538,333 $ 56,189,221 B. Subtractions: 1. Items not requiring use of working capital- Depreciation 643,152 643,152 2. Total subtractions 643,152 643,152 C. Additions: 1. Principal payments on long-term debt 8,800 8,800 2. Acquisition of capital assets 235,398 235,398 3. Total additions 244,198 244,198 D. Amounts reported on Part II, Line A $ 53,650,888 $ 2,139,379 $ 55,790,267 Page 4 See accompanying note to report. TOWN OF MARANA, ARIZONA NOTE TO ANNUAL EXPENDITURE LIMITATION REPORT YEAR ENDED JUNE 30, 2005 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Annual Expenditure Limitation Report (AELR) is presented on the basis of accounting prescribed by the Uniform Expenditure Reporting System (UERS), as required by Arizona Revised Statutes Section 41-1279.07, and in accordance with the voter-approved alternative expenditure limitation plan adopted on May 15, 2001, as authorized by the Arizona Constitution, Article IX, Section 20(9). This plan provides for the Town to allow the Mayor and Council to adopt an annual expenditure limitation each year, which for fiscal 2004-05 equaled the budget of$89,573,243. This budget was adopted formally on June 15,2004. Page 5