Loading...
HomeMy WebLinkAbout1983 Financial Statement June 30� . : TOWN OF MARANA _ Financial Statements with Report of Certified Public /lccountant June 30, '1983 , �1CHARD C. DENEN, LTD. � Certified Pubiic Accountc�nts J.AN 17 '198� ---- D E P A R Y M E N T ��"-""° � F. R I Z,O N A �� �� _ � � _, Phoenix, Arizona � ��ichar� C�. L��nen, L�. CertNled Pubpc Accountant , �ha Dsnen Bullding, 4Qt Ea:t Indian School Road Phoenlx, Arizona 65012 Telephone 602-284-1134 Rk:haro C. �enen, C.P.a The Honorable Mayor and erry B. Swsnson, Principai TOwri CounCil - Town of Marana Paul Meany �Iarana, Arizona Lisa EtMrd In Re: Internal Accounting Control Gentlemen: ., I have examined the general purpose financial state= ments of the Town of Marana, Arizona for the year ended June 30; 1983 and have issued my report thereon - dated October 3 19g3 : As part-of my examinaticn, I made a study and evaluation of the Town's system of internal accounting control to the extent considered necessary; to ' evaluate the system as required ' by generally'accepted`auditing standards. Under 'these standards, the purpose of such evaluation is to establish a' basis for reliance on the system of internal: accounting control in determining the ; nature, timing, and extent of other a�aditing proc�dures that are necessary for expre�ssing an � � =° opinion on the<fina.ncial statements and to assist the , �' auditor in planning and performing' ris examina.tion of t;� the financial statements: T The objective of internal accounting control is 'to $' provide reasonable, but not`absolute assurance as to the safeguarding of assets against loss from ' unauthorized use or:disposition, and tYie reliability of financial records for preparing financial : statements and:maintaining accauntability for assets. The concept of reasonable assuranee recognizes that the cost of a system of in�ernal accounting control should not exceed the benefits derived and also recognizes that the evaluation of these factors necessarily requires estimates and judgments by the Town management. There are i:iherent limitatians that should be recognized in considering the potential effectiveness of any system of internal accounting control. .In. the � perfornance of most control procedures, errors can result from misunderstanding of �'instructions, ; mistakes of judgment, carelessness or other personal �: A.�:o�eso�,e,YO," �'actors. Control procedures whose effectiveness � �n�nsa P„n,,� n��o„�,e,,,s depends upon segregation of duties can' be ^me���s�'��5+����eor circumvented by collusion. Similarly, control m ����� Pib, A° ` ° ""'g" 15 procedures can be circumvented intentionally by � �_ M���" F,�a"`e management with respect either to the execution ' and "' Ofbcers Aasoc:a�ron � � � � � � a; .. . . . . . . . . � . . �" Prrvale Compames .. �. .. � � � . � � � � . . . � . � . � � ... � . � � � � . orecbce Sea e� .... _ . .. . . � � � . . . � . . . . . . . �. . � . . . � . � . � . .. . �. �w�a�on ot P A fvms � . . . . .. � � � ,� . � . .. . . .. . . . . . . . . .. . . . � - � � � � .. � . � � . The Honorable Mayor and Finance Gommittee Town of Marana Page Twc� recording of transactions or with respect to the estimates and judgments required in the preparation of financial statements. Further, projection of any,� evaluation of interr�al accounting control to future periods is subject to the risk that the procedures may not be adequate because of changes in conditions, and that the degree of compTiance with the`procedures may.deteriorate. My examination of the financial statements made in accordance with generally accepted auditing' standards, including the'study and evaluation of the Town's sy�sten of'internal accounting control for the - year ended June 30, 1983 which was made for" the z purposes set forth in the first paragraph of this = report, . would necessarily disclose all weaknesses in } the system because it was based on selective tests of ` accounting records and related data. ` However, `such � study and evaluati�n did not disclose any conditions' that I believe to be material wealmesse_s. £ i �. � � ��.' ��� � � � � r `"' ` �ju`s''" � . � Richard C. Denen, C.P.A. ' For the firm � RCD/ska : - ; TOWN OF MARANA, ARIZONA TABLE OF CONTENTS Pa ge Auditors' Report 1 Gerzeral Purpose Financial Statements Exhibit A- Combined Balance Sheet - :° ` All Fund, Types ,and Account Group 2 '. Exhibit B_- Combined Statem.e,nt of Revenues, =Expenditures and Changes in:�a.nd Balances - Al1 Governmental Fund , 3 :, , - -� �Pe s � � � � � Exhibit C- Combined Statement of Revenues, ` F�cpenditures and Changes in F�,ind Balances = Budget and hctual - _ �,„ .~" General and Special Revenue �.inds k • y. _ r , . Notes to Fir.ancial Statements 5-7 � � , � � � � � � � � � � � � �� � � � ;, �; ; - ' � � �; , � a, �� � � x.. g � • �� v.�......, . . . ., . . ... � � � .� . . . � . . . 2ichard C�.. Dc Cerlliled Pubilc Acc h� psnen Building, 401 Esst � >hoenix, A�fzone 85012 Tefepi Rkhard G. Denen, C.P.A. trry B. Swanson, Princfpel Paui Meany Lisa Ellerd �_�. - x;eiY of ns�iW�e of c�.ACCOUntants Fcrms �.>...___.. -. � � �nen, L��d. ountant ndlan School Rwd �one 602-264-1134 �� The Honorable Mayor and .. Town Council Town of Marana Marana, Arizona . � , . . , i I have examined the eneral : I g purpose financial statements of the Town of Marana, Arizona, as of and for the year`ended June 30, 1983, as listed in the Table of Contents. My 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 I considered necessary in t,he circumstances. In my opinion, the general purpose financial statements referred to above present fairly the financial position of the Town of Marana, Arizona, at June 30, 1983, and the sesults of its operations for the year then ended, in conformity with generally accepted accovnting.principles which, except for the change with which I concur, in the nethod of i reporting on the modified aecrual basis as described I in Note E, have been applied on a basis consistent with that of the preceding year. : . r• �',.�J�.f��'� � � October 3, 1gg3 Phoenix, Arizor�a � � _ I r. � _ � t' GENERAL PURPOSE FINANCIAL STATEMENT � �` � . . . . . � . . . . . � . . . . . . . . � • . . . . .. .. . . . . � . . . .'. . ... � �. . . . . . .. � .. . � . . ..� . ,.:� . . _ ..: �. .. �� ; � � � . . . . . . .. .. . � . . � � .. . �.��� � . � � . . . . . � . . . � . � . .. . . . � ... .. � �_�� :" , . . . . � � . . . � � . . . . . � . � � . . � � � i. ... . . . . .. . �. . . . .}' .... .. . . . . . . . . . . . . ,. . ... � � .. . �, .. . . . . . � . . . . . �� �. � . . . � . " � - . . � . � . . . . . . � . . . . . . . . . . . ¢ . . � . � � .. . . � _ . �. . � - . . . . . .. . , 4'$ . . : � . .. . � . . . . � �. . � . . �',� ,., . . . . . . .. . . _ . � . � . � .. . � . . � . �gi,. � . . . . � . . � � . � . . . .. � . . . . . � " . . . . . . � . � . . � � . . . . . , � _ . . . . . . . . � ,` .., , . . . . ,. . . . � . .. . ., . .. . . . . �5 .,, ... _ . . . . . . . . � . .. . . . . . . . . � . � � . . � . � . . . � � . . .. � - . � . . . . � � � . . . . . � . � � .: . . . .. . . . � . � �. � � . .. � . . . . . . . . . � . � . � . . � . . . . . . � . � � � � . � . . � � � . . . . . � . . � } � . . . . . . � . .. . . . . .. . . . . . _ . � � .. � . . . . . � . .. . � � . . . . . . . . 'rX � � . . � � . . �. 4i . . . . .. �fiy. . . . . . . � � . . � . . . . . . € '� ,. � .. . . . � � . � . . . � . � . g ' � � . � . . � - . . ' ' . . � � � : � � � � . � . . . . � � � .. . . � . . .. . � � ` � � . _ . . . . . . x ' .. . . ... .. . � . �. � " . �, -�n,� ,. bt _ ,. ,�� s �r � . , > z �.�,.,� �. � m � ��� � +' U ��� + � ` ,. , . , „ ., v�.. �...: ; a , , r , .'' y r � �d a � c� � �- d � r-i � a� w w �, m c�o � r�n v�i � a ' �'' c � m o � � �. w �-�, ° � `�°+ t' o ni w m � o �+ o N N o a a' o� ; m H c+ 1-'• f—� c+ G c+ O� c+ ' c+ r-3 tn E3 (n A .� a w w w a N� w r+ N• N• a m� b I-� � � m c + t-� o v,- m m ri , m .. o� � r � �* m �-�+ `� r , � b • ;; , cn �- Fd �- m ;� y � a� ; u, N• m w w �' N :" p m m , H �. � ��" y W. P� t�=J �� C �� � � � N I~ ' � N j ,. ' � � � 1—' ' � � a :N•' c�n N ; vt1, : � ` � ro � � �� � � � � �,� � �C W N p� �' o - � � �, � ; `� � � 3 o � � � �C m `+ t j ; � � R, r � � € n UG H � I�• � � e• , '-r.i . ; ` O � � � , � � � O �,, c+ r�- � ! m �W ' '. l%1 d � ' 4 `� � F-�• �. CA , y ' ' i�n' w � � � ��;, � m o � t-+ �. � , w " dz� �°' _ � o�e � k: � u � , oo c� � �: � II � � c� wotn� k � II iv -�' -� -� ' � II N ` .� tp � � a. ;' � �I O� vi v1 � � II O� -' O� �O � K� Z� r; . 'y I I �U 0� 0o O O I I �O lv ln _. iy � y y '' � II Q� Oo Oo �7 J il p� Oo O J W c� 4� i . f—' II --� � - ] � � II —� �7 O � I--' �'1 _ �1 ; Fd � Q I y � � ? c + � ' �', CxD ' � � � h',. �i II ER � II �r � C U� .; (D ii W W W 11 W. N c� `t7 � � � ii �oo � � w w i i 0° , ' :° :,°° � � R, • II O tv N Oo Oo ' II O W W� cD , h'• JI � � � O ; O . .' II 00 ` O �' � � � H O � � J II —' �� � ' ' ' : , � ro ; a , �n ; m , ,_ : - . : � �;. �I _ . - '� a I m c� �; � t� ��� 4� u-c� �1�r �� o � ,�-� � � I _lv s_ �N W : ° I I 00 � 0o ui � � �I`W � II�W W u�� W � � � II v �. 11 .� �' cD F-' c�- � � �� � _.., � I I .� � rn ` � � ' Ii v� v� v� II' v� v� ` F.,• y ?S O : @ � � b , : m 5� N. � ! N' 11 W W �.n , pNp �. 4� II ,� Go tu W -� ,=� �' II 00 W Q' W }� .F . (I 00 W-• Lrr �l �O cD 9 II � � � �: � � � : II I Oo � _ il �7 � � � � ,� �I �n � � �o � W � � —' II J v� ,0 O tv � H . � O , a. w . � �, u � � u � � , ii 1 .�'o � � -� ii � � iv w -� o ii � v, rn .o o� a� .o u-� .o rn �w rv .o � i 4 � ` �� � � �� W �.. .� O� -'� � V�''�.V' �� W -� ..:' v� .,.. � .. '.: � �"'� .. . . I { V��� � �a �S � �� �W � � �i. -�^ � � I `i ( � � .�., . � . � � . . ��. � U� � ;� �d . � �i� � � .I' . � "'�� � W V ` . . . . # . .� �'�... . � . � ' . . . . . . . � � � . � . � . . .. � . . • ' .- . �� . . . . f� . Fw _ � � . c . ; + � �s . y �n � l � �� " �? .' ' d "' "k ��� �. Y � � � �� . .. . . . . . .. . ;r;,,� �.``�F a�{,.� ����, ,�„�.�'.'��"".. , ., .. �!t.. 4f�A,�' ",,:.. �,+ . ' . y , „, . +� +��'+m�ti;�*."^fl""+, a*w« s,s�'u ^,e� �5?' �:�� r v�.�.ai^���x'� Y.�✓a�t�.� "�.1c�,�-s t,�*°'� aN a.��,,ra�xs.� , ru n ;.,�a.a �., s�.: � � kT b � � � � k � � � , `� C] O b' t�J t� � C7 'r1. C� ''d H� � � � � � �N � �H'�Jt''H C � � � � � (D m (�D ( �'�"! � � �''' W � O � O LZ (D 1-�• '�3 I-'• F-'• W (D n F'! tn y y y �� y OA `t7 �� Oq CT' �� � tn c+ :� o�C � . p � w� O W W�] p Q �' W F-� c+ F'' I-' I-�• �, y c� CD cD cD cD � � `'rJ \''� F-' c+ �-' ^ p c h c+ c+ I-�• � c+ F'� I-�• U� I-�• '�-� W O CD F! U1 '� in cD a Fl+ O c + 1y Pi n''.3 C+ C� a F-'• cF' c+ F-' W V] (n H � C O W (D W L: F'h W I-�• W� 1-�• hy At eC ' 1-' Oq �-i c+ tn fb I-� O W(D ' .y � � � � � . � O QO Qq � � �d ~ W H O � c+ W O y � ~ . ( C D pp, � b � .o �+ �rm ��ti�m��m u, a� ro�s w a oo i u� �, "m � � H �� u � D , m � p''ti t� N' m� �+ m o�.�1 � m r�' v, � m www � c�n v�o�'mo��o� m�c�o y�'' `� m . c, � � � � � � �n m A. s m : � � � �. � ro � � Z m y cb N @ cp � O c . ~ + c � D @ �F' � P�, �� � � � C�n r R, � � � � � � � c+' � � � � � � � w p y PJ �i3 cD Fi cD � m '. (D u1 y w t� R. � . � � � o � � � N � o � � � �, y � � �i C!] (D (p � y [z] � � � . O � v � � � � Oq � � p, p .�.s � t ,,� � C A � � Fy" � O v � N w f� "7 '" � y �' y � m �t� w � y z � � m m ' ro _ � ��� w �' � c �H� � � � � � II � � �t�]2 c+ II � tv .-. � W N W N � �'-�' C!] �.+ cD II d � .--• � � � � II � � �� � � �� � � W �vW.Vt J - � j �W�� N � p � � Sn I I W � , O `n v� v� � � " " " " � D � W z I-� II 0o J v'� O� W OJ 00 �] v�i � O� � iV O W O�o p--�-� W N O �� O'T1 C� L� � 11 J � vt �O �7 W W O �n O tv N lV Oo �n �n � W 00 00 I-� � �� � � � � y �p � � � cn � w � x . m �, � ro �i � CD EA' o �J H � O II W - � _. . _a .. � �� � .. ��. _a �. � � �. F.,. � . � . M I I +� 0o t7o �n � � , oo ._"' ' J . O O h W� � II .. .. v � -° v � O O� tT 1--� !a hy �, • I I � v�i v�i � W W � w � 0o G7 0 � � y b .� ; �. lv iv v W N � .�, C � > cD (D � ;� � � � t "� � .. . , � . .. ... . .. . . . - : . .. � , .. . �.�� . : , N .�. .. . .� � ..'�... .. , ... . . .. . . . .; . . . . . .� � . � �-� .. . � . � . . . . � . . Z. . . . . � . .. . . . ` . .. .�... � . . .. � . . � . . .. . . . , . . . . .. . . . .. � .. . . � . . . . . .. . . . . � �� . . . . . � ... � �. � � � � � �� . � � - � � � . . � � . � � . � � ' . . : � � � . � . . . .. . . . . � �. � . .. � . . . . . ,:. . .. . .. . � � . . � . � � � , .�, � . � . . . � . ., � :�F � sr � ^a �F : „� ,.,n .. � .. . � .. . . � ....�'� . . . . .. lv � N � � , �O N � W � .-. II O O v� O� �D �-� �p � v�i�7O �W�n-�.l � -ti0 N �p � , II� � v � � �]W-Q�W W� U-• .fl O O' N V'� �n N, �O W O �n 00 00 -' �O W Il d� �n : �O v� O Oo Oo O' Oo' v� 00 O O� N N O W l70 . �-' W 7v O' � {� .� �p v� �' N W W tV �l 00 W N O N N iv 00 �O �.n �n W 00 00 W O ..i `.-i . c+ ' , ¢, ¢� `; K � � ' I� II � � � � N O � � �II � F+• II � �2 N v� - N W �O �.n p 00 .F � p0 � � :�O 1-� c+ 11 (T W -' N �l �-`- � tV �7 � iV �D iV � � W N � O� y iV � I � � �,iv �1 � Vi tV N -'. W -� O �O N � �.n �O -� pp �7 W �O iV " � II vt 00 , N O� N � �' J N' OO N�O �D � N�O N ^ �h W W O' �7 ,. II � -' -' O" �] v1 vi tv �7 � O 00 �`- �� W O �n O` "' � p-` .� _ v �^`z.."� � �'i�tt ��. fa ��.�`�W� 4� "'� - :S s& �„��' �`i`' �^,`'� , � � � f �=� 4 U �, '�<x. �<4� � �a,'��� � � ,�'� " � �� ��� �.t� �� � ,� �,��: � � � � r ,a, u��. `� .�' n } �; ` ,� �`�`3."�r� { 'T' �" ��'* °�t � �. f 3 �. t � �, ( .; �����3�� ��h'� f 'ki�vM�?id' x �� �� ; �,�'���`.�` � t �� ' a ..�« { d ' �:.. �.: .. ,a � ,� �p ai , '��,'4 k a n. �. �, j .a;. ' , , ... ; . . . s .. . . ,.,; .+ ; .� ? r ��� ��� � � ` � � � � � .� �� yA ��> � �' t � + I � � � � � ` � r �� � 'i � � C7 � ���-t � �' ; U � : O O" t7 � � O�� O �' � L�J c) � ,.'� C': '�l O � ''d H � ;� 'H �J� � ti H C � � � � ' `� r � t�. N A c+ C' m : 'd 'rJ m k m F W� o W G o R, m FN• � t 1 W m �' ' `�'-, �:'.� U� �-"7' cD . ln .� , cD' cD �i . 'c7 rt� . : Cq 'L3 � d `-7 �QG t7' E3 � � � m c+ '',.3 C) �`;� `',� � � � G� N Cd c+ Gd N�S m y �! : H cD m �-3 �' I�• 1-� c+ I�• 1--' � 1�• � H c� CD cD cD cD � �r�',� . W W W �'! o. N W�T1 '� o ''y ct I-'• F'• [n F-+• � F'� o (D ti tn ,.�i m(D W N ci h' r O c+ c+ c+ F A.� O c+ � S� C� ;3 c+ (� 9 F c+ c+ 1-� OD tA U1 �, ;' � O� cD P� �� t-�i P+ i�. 1�. � �.,. M P� `� I-' cici .�J c+ cn � W� I--' O(� c� • � � u, � � a � m �+ ►� m �; rn w cn �+ �+ �s ►- w c � u� t7 .� � m � ro cz � oq ov � �� r-+ o p�+ w o n m ;� ro R. -• m p m m rn: ro o n m w��i o m�+, y w m � m.�t w ,- bd �O c+ fA rS 4 c� H H N• CD � �' i� �d 'r'S' N• <D � t+ (D O��,.`Y � 0o I. tn � cD �' �! ' H � m cD 'd P� � m tD C'] c+ (D F-�• C �� n�3. y � N w � � � y � y W ".1 (D O Ul O�c.' � O @ t� (D iy ro n cn ro , X N m m C!� N a c�r m y � � c�-r m m x `C7 � '�'J � 1-p N I-'• H F3 c+ cD P� F-�• � � � � N N cD I-'• cD cD �-i O c+ m N; C� ' F-' ct B C'� �' � W � ''i �-i C C tD � ci 1 w C P�' � W m w I-�• N � c + c�-r �J � c 3 �, a c+ N• N• f�• � o rt ' m m �n � m � H p -�c c�-t � � O I � '',y� v�i .� . � tp � � � t��J G�1 N cD � O�q `� � �' ''�' � � � '�J t 4� Ci �.. W � �� U] m. N n H �L� C�A CJ� H'• O �7 W CD N �J �'rJ 9 H 9 � � 'd �O C .�.' ' H•t"�'ZH � �O y � �. � � � � � W R' � � ~ C H m � 4f� N ''UU Cd O � � � � � , � Oo : N Oo }� O N-� W � Fi C�"� t� � : � � O � vi -J O� ��O W W O -� �: vi vc 00 P� H��C7 W U O Q� O O�] O�n 00 ��7 CT lv t7 � O� W CD � t-+ C C�j � I I C� I O �O O O� -� O� �] O O I� O�n ' c+ R� t=J , _ � W 0-�7C�dNO� W O �O�O a�CA H � 1 t� �zi � c �-. �� �� °� ii `� �' `° � r� � � t � �` t� n-� rv � rv ,-. � rn oo � � v oo rv � w � m ro � D4 F� II �n Tv �n J O� � � oo v, w � w ln �7 -J -� w.�� �n lv c+ � w �] trJ `d ll � ''d II Oo � C7 vi �n �n vi -� #� .� O O �p pp -� �p W 7v J J-.. J� W w t�...� 0 q H �i II Oo � �O O� Oo Oo Oo 17 �n � 1 I O� N N O W Oo O� W iv O F-• CJ y� � I�7 � vi �0 v W W O v�' -+ O N tv tv 00 �n v� _. W O� 00.' � � H Z � x C, � fy W 'T1 � rU . � T , � p 4H �`�7 C CA H CJ� O � � � ` � �`h W P� Q .. M � � � .-„ pp W T� W �-. � �] 00 r. , • 00 � w v, � v, w rv w rn w rn � o N t�-+ a � � . . �� v � V r !\� v� . �V � Y I\ /'\V �. Q .: " , S� W ... . � ' � . . v� v� �n _. p� : � p�_,.. N W Tv �n : O� : vi � J� O -'�i P� � t7 0o w ao � .�, —• o :o � rn -� � rn o0 0 � � � � w � � '� W W O N -+ O�7' O TJ O N� N. vi -' -� N--� Q' H cD � . � .� . . ._. .� ... ... .� ' �..� � ... f-+ N' . N {iT � I I- I p, '� pp p I p I� I ' 1 ,�] � v_, J J r, ( � I I O �� � � � � � � � i � -� W pp �p � _. �1- _ a Q� OD W U� O� . O� � I 1� ,,. � , .� �., 11 iA LA II ' ,� � � � _ ^ ^ � .b t� I I � � 00 vi � _... �7 � _, � v 0 � � � ,p - � � � � C F-' II � v�i v�i � W W � �'� 0�o p ' p ' p m,. � ��., � - �,.,, -.l W N � ,. � cD ; � . `- ro ,: � p � � � � '�iCm � � � � �� w � � � � � � � w � � o y �. � �n vi , W O. • � �n p � � ,� � � 00 00 �7 OJ �O O� � � k � v �-" 2V � ��pW N N Q.�� �� �... , f.., �p _ ' �.'• CD > � � �.,. c + _ C� r � ': I ', I , I a i � ' „ ��. ��� � - . . �r �� a �"�'e �y '���*��',�`���. � . . ,. , ... �.;�t �..,rt t �,��.rz.�..�.;�+���.,.�.�- � �+ ��"� � TOWN OF MARANA, ARIZONA , NOTES T0 FINANCIAL STATEMENTS � ,� `� "� .�.-�� �� �� �June �30,� 1983 �� ����� � � � � � � 1 .,SUMMARY'OF SIGNIFICANT ACCOUNTING POLICIES , The Town of Marana was incorporated on March 21, 1977, under k -" '_ �the; pravisions of the State of Arizona. the Town' operates urider a Council-Mayor form of Government and provides the � following services; `Public safety; highway and streets, � ° public improvements and,general'administrative services. . . � . �, � Accounting policies for the Town of 'Marana conform to � ; ;.. °. generally accepted accounting principles 'as applicable to � governments. `The following 'is a summary of the more °` ,, significant accounting policiese A.," Fund Accountin� The accounts of the Town are organized on the basis of �, funds and account groups, each of which are'considered a � � ' �; = -�� separate ��accountin entit � � ���� � �� g y. , Each fund is comprised ;of � `' assets, liabilities fund e uit � q y, revenues and � �,;� ' expenditures or expenses as appropriate.` Government � resources are' allocated to and accounted for in :the � ;individual fund based on the purposes for which they are x to be spent and the means" by which spending activities are I - � controlled. There` are two types of funds in these i � financial statements: , . �� , . , ,. .. . � � .� � � � � General �nd � : The general fund is the general operating fund of the a Town. It is used to account for all financial resources � except those required to be accounted for in another fund. � y , �� ; _ , �� � � ? �.. - �� � � � ��Special Revenue Funds � � -� � �� � � � �� � � Special revenue funds are used to account for proceeds of � specific re��enue sources that are legally restricted to � `; ���.�� expenditures for spe�cified purpose's. � � � � ��� � � � � � � ; �; ,. . _; � _ � B. Fixed Assets and Lon�-Term Liabilities Fixec} assets used in governmental fund type operations are accounted for in the general fixed asset group rather than � in governmental funds. : Public domain (infra- �t; � structure � )general fixed assets consisting of certain � � � � � ` # � �"'� -�` s�� >, , } s ���-: � � � �. , ' '�"�" � � � � ,: ���.�- -. � � TOWN OF MARANA, ARIZONA : NOTES T0 FINANCIAL STATEMENTS . June 30, 1983 improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks`, drainage systems and lighting systems, are capitalibed along with other general fixed assets. No depreciation�is provided on general fixed assets. If actual historical cost is not, available, all fixed - assets are valued at estimated historical costs. Donated fixed assets are valued at their estimated fair value' on '. the date'donated. . I,ong-term liabil�ties `.expected : to be financed from `` governmental funds`are accounted for in the'general long- term debt account group not in the governmental fund. The two account groups are not funds. They are concerned only with measurement of financial position and are not involved in the measurement of result of operations. � C. Basis Of Accountin� All- governmental funds are accounted for using the modified accrual basis of accounting. The revenues are ; recognized when they become measurable and available as net"current as`sets'. Expenditures are generally recognized when the"fund liability,is incurred, D. Inventory The Town no longer carries any inv�ntory. Supplies needed for operation are°now being purchased on an as-needed basis. . E. Restatements The following fund balances were restated: General �r�d The general fund balance was restated _ to recognized prior period revenue: _ Fund Balance $ �5,�95) � o y . . , , �� � � ; , � � _� _ � _.. _ - ._ .._._ i � .._._ , � .r_ . _ � _ � _. _ , . � — � _. L � � . . . . . . . . . . . . . .. . . 4 , ; '. . . . . � . . . . . � . � , . � . . .. . . , . . . . . .. . . _ . : . . . . . .: � - 1.... , .. .. � � � � - � � � `�� � � r � '�.: � �' � � � � �. t .' , w : # w_ . .� .�� . . . ., � . g �- i . . � . -� � i �y ��� 4 � �; TOWN OF MARANA, ARIZONA - � � ;�� ` NOTES TO' FINANCIAL STATEMENTS` � ���� ��' � � � �`�� _ June 30, 1983 � � � ��,��,�� � ��� �-����� � �� � � R € ,� �� � y,�.; � � ., � . � :� � � � � � � � � ��` � � F. Long-Term Debt � < ��� �' � �; In 1979 ` the Town of Marana entered into an agreem@nt with `$ ��`��� ���� ', the State of Arizona to purchase a 2.5 acre paficel. of �� ��*,� �� land where the Town Hall of Marana now sits. The , total ����� '-�� , purchase price of the land was:$7,134 with a 7� interest �'� � �� � � � ��� . ; being charged on all unpaid principal; ` with yearly �������� . �� ��x�� payments' of $1 ,069 being made. ��- �' ��� : ` % � ��� , . .,.,. . >. . . ,. G. Total Columns'on Combined Statements - Overview ����,��� : � �_ Total columns cn the combined statements - overviews are ��������� captioned °Memorandum ;Only" to indicate that they 'are ,������ ���� . �� �� presented only to.facilitate financial analysis. Data in , � these columns do not present financial position,` results ' of operations or changes in financial ` position in ��°'°� ���_,�; �� ���" � conformit with enerall acce ted accountin rinci les "����: �� "�_ *�'��� ,_ y.. g _. Y P 6 P P.,, : s � w �, � NeitheT is such !data comparabTe to a co.nsolidation. �• -��' Inter-fund 'eliminations have not' been made in the ���� ��� aggregation of this data. � ;: ��� � �� �, 7 ��, ��• �� � �� � ¢� �.�.ry ��: ; r �� �; � � � ��;, , � �a � - � �: .� � , � , � -;� . . �.. _ � �; :�` 4 � � .. . xd "�`$ -;& : � � q L ', st � � ��� � t �� A � w ��� :� � # �y�. �d' . _ q � h5' k`�� �� v �� 3 K),.ry �=� l= ' �: �� . . . . �.�: ., ' .' . , . . . ; � - } : � y . ,. � ' . .. . . .... � ... . . � . � .. �� .m t . . � , � � . .. � . .. . . . . . . . _.` . . `_ �.. . . �:... . . . � . . � � ...,. � a:. .: �. �:�