HomeMy WebLinkAboutAnnual Expenditure Limitation Report June 30, 2004 t
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1 TOWN OF MARANA, ARIZONA
REPORT ON AUDIT OF ANNUAL EXPENDITURE
LIMITATION REPORT
' YEAR ENDED JUNE 30, 2004
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TOWN OF MARANA, ARIZONA
REPORT ON AUDIT OF ANNUAL EXPENDITURE
LIMITATION REPORT
YEAR ENDED JUNE 30, 2004
' 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
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' CERTIFIED PUBLIC ACCOUNTANTS HEINFELD, MEECH & CO., P.C.
6740 Oracle Road,Suite 100
11011 Tucson,Arizona 85704-561$
(520)742-21
Gary Heinfeld,CPA,CGFM Fax(520)742-2 718
INancy A. Meech,CPA,CGFM
Jennifer L.Shields,CPA www.heinfeldmeech.com
C.Christopher Arvizu,CPA
INDEPENDENT AUDITORS' P
EPENDE T REPORT
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The Auditor General of the State of Arizona and
The Honorable Mayor and Town Council
' of the Town of Marana, Arizona
We have audited the accompanying Annual Expenditure Limitation Report of the Town of Marana,
Arizona for the year ended June 30, 2004. This report is the responsibility of the Town of Marana,
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 opinion.
' The accompanying Annual Expenditure Limitation Report was prepared for the purpose of
complying with the uniform expenditure reporting system as discussed in Note 1,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 of Marana,Arizona,for the year
' ended June 30, 2004, 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 of the State of Arizona, and is not intended to be and should not be used by anyone
other than these specified parties.
' HEINFELD, MEECH & CO., P.C.
Certified Public Accountants
' December 3, 2004
TOWN OF MARANA, ARIZONA
' ANNUAL EXPENDITURE LIMITATION REPORT - PART I
YEAR ENDED JUNE 30, 2004
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1. Economic Estimates Commission expenditure limitation $ 5,786,432
' 2. Voter-approved alternative expenditure limitation
pp
(approved May 15, 2001) See Note 1 77,185,503
3. Amount subject to the expenditure limitation
(total amount from Part II, Line C) 44,209,387
4. Amount under the expenditure limitation $32,976,116
' 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 re orting system.
%JagSignature of Chief Fiscal Officer:
Name and Title: Michael Reuwsaat, Town Manager
Telephone Number: (520) 682-3401 Date: December 3, 2004
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' See accompanying note to report.
' Page 2
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TOWN OF MARANA,ARIZONA
' ANNUAL EXPENDITURE LIMITATION REPORT-PART II
YEAR ENDED JUNE 30,2004
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Description Governmental Enterprise
Funds Funds Til
Amounts reported on the Reconciliation,Line D $ 39,876,229 $ 4,333,158 $ 44,209,387
IA.
B.Less exclusions claimed:*
C.Amount subject to the expenditure limitation $ 39,876,229 $ 4,333,158 $44,209,387
* Exclusions do not apply to the Town of Marana,Arizona's annual expenditure limitation report due to the
voter-approved alternative expenditure limitation adopted May 15,2001.
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Page 3 See accompanying note to report.
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' TOWN OF MARANA,ARIZONA
ANNUAL EXPENDITURE LIMITATION REPORT-RECONCILIATION
YEAR ENDED JUNE 30,2004
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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 $ 39,876,229 $ 2,121,500 $ 41,997,729
' B. Subtractions:
1. Items not requiring use of working capital-
Depreciation 499,538 499,538
' 2. Total subtractions 499,538 499,538
C. Additions:
t 1. Principal payments on long-term debt 8,800 8,800
2. Acquisition of capital assets 2,702,396 2,702,396
3. Total additions 2,711,196 2,711,196
' D. Amounts reported on Part II,Line A $ 39,876,229 $ 4,333,158 $ 44,209,387
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Page 4 See accompanying note to report.
TOWN OF MARANA, ARIZONA
' NOTE TO ANNUAL EXPENDITURE LIMITATION REPORT
YEAR ENDED JUNE 30, 2004
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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 equaled the budget of$77,185,503. This
budget was adopted formally on June 15, 2003.
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