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1970CITY OF BANGOR FINANCIAL STATEMENTS as at DECEMBER 31, 1970 6hFg (110 BROOKS & CARTER Certified Public Accountants 84 HARLOW STREET BANGOR, MAINE 04401 AUDIT REPORT AND FINANCIAL STATEMENTS CITY OF BANGOR, MAINE AS AT DECEMBER 31, 1970 Table of Contents Auditors' Letter and Comments Comparative Balance Sheet - All Funds Statement of Estimated and Actual Revenues. and Tax Commitment — General Fund Statement of Appropriations and,Expienditures - General Fund Analysis of Unappropriated Surplus —General Fund Statement of Capital Improvement Fund Statement of -Income and Retained Earnings - Airport Fund Statement .of Income,and Retained Earnings -.Sewer Utility Fund Statement of Revenue and Expenses - Hospital Fund Statement of Property Valuation, Assessment and Collection.of Taxes Statement of.Public Debt Statement of Trust Funds Statement of .Agency Funds Statement of Property Fund Notes to Financial Statements Page 2-3 4-7 8-9 10-11 12 13-14 15 16 17 18 19-20 21-22 23 24 BROOKS & CARTER Certified Public Accountants 84 HARLOW STREET BANGOR, MAINE 04401 FRANK M. CARTER, CPA RAYMOND T. ADAMS JR., CPA TELEPHONE 947.0351 GEORGE W. CHEBBA, CPA VAUGHN L. HERSEY, CPA April 5, 1971 Members in Council Bangor, Maine 04401 Gentlemen: We have examined the following financial statements of the City of Bangor for the year ended December 31, 1970, appearing on pages 4 through 17. Comparative Balance Sheet Statement of Estimated and Actual Revenues and Tax Commitment - General Fund Statement of Appropriations and Expenditures - General Fund Analysis of Unappropriated Surplus - General Fund Statement of Capital Improvement Fund Statement of Income and Retained Earnings - Airport Fund Statement of Income and Retained Earnings - Sewer Utility Fund Statement of.Revenue and Expenses - Hospital -Fund 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 foregoing statements present fairly the financial position of the various funds of the City of Bangor at December 31, 1970, and the results of operations of the General, Capital Improvement, Airport, Sewer Utility, and Hospital Funds for the year then ended, in conformity with generally accepted governmental accounting principles applied on a basis consistent with that of the preceding year. We have also examined the financial data appearing on pages 18 to 24 of this report. While in our opinion this data is fairly presented in all material aspects in relation to the financial statements .taken as a whole, it is not necessary for a fair presentation of the financial position and results of operations of the City of Bangor and is furnished solely as supplementary financial information. Respectfully submitted, Certified Public Accountants CITY OF ,BANGOR COMPARATIVE BALANCE .SHEET AS AT DECEMBER. 31, 1970 ASSETS Total General Fund 15435,743.67 1,449,595.51 Capital Improvement Fund Cash 3,920.85 193.,866.24 _.Amount to be provided in future periods for third'. stage of interceptor sewer 1,993,000.00 - Due from General Fund 987,306.75 500,000-.00 Due from Airport Fund 30,000.00 - Due from Hospital Fund. 80;000.00 - Due from Sewer.Utility Fund 70,000.00 - Total Capital.Improvement Fund 3,164,227.60 693,866.24 Municipal Debt Fund Amount to be provided.in future periods to retire indebtedness 9,7841960.00 .9,672,400.00 Total Municipal Debt Fund. 9,784,960.00 9,672,400.00 The accompanying notes are an integraZ part of.these.statements. LI -ABILITIES, RESERVES. AND SURPLUS December 31, 1970 General Fund Accounts payable and encumbrances Due to Capital Improvement Fund Due to Trust and Agency Fund Due to Sewer Utility Fund Due to Hospital Fund Reserves for: Town road improvement Automotive -equipment replacement Assessments to be levied in future periods. Ambulance --service Off-street parking Private services Total.Liabilities and Reserves $ 242,177.64 987,306.75 36,963..05 25,775.09 67,999.24 156,663.34 26;517.28 3,698.40 1,547,100.79 4 December. 31, 1969 $ 280,246.27 500,000.00 13,016.04 29;882.36 1419;756.10' 136,256.34 13,987.88 966.39 1,887.43 1,125,998.81, Unappropriated Surplus(06ficit-),Page 12._ (111,357.12) 323,596.70 Total General Fund 1,435,743.,67 1,449,595,51 Capital Improvement Fund Accounts.payable and encumbrances Authorized projects - unexpended balance - Pages:13 6 14 Total Capital Improvement Fund Municipal Debt Fund Bonds payable Notes payable Total Municipal Debt Fund - Pages 19 6 20 4,906.75 45,994.25 3,159,320.85 647,871.99 3,164,227.60 9,335,000.00 449,960.00 9,784,960.00 693,866.24 9,273,000.00 399,400.00 9,672,400.00 December 31; December 31, 1970 1969 . General Fund Cash $ -9,714.62 $ 2,275.59 Accounts receivable less allowance for doubtful-accounts.of $17,703.92 at 12/31/70 and $6,175.19 at 12/31/69 - Note 1 195,904.53 286,159.97 Taxes receivable less allowance for future losses of $33,226.54 at 12/31/70 and $21,828.01 at 12/31/69 - Page 18 564,883.92 543,953..24 Taxes secured by liens and deeds - Page 18 185,723.36 166,155.07 .Taxes .secured by sewer liens 411.50 411.50 Town road improvement.fund due from State - 29,882.36 Street and sewer assessments deferred 156,663.34 1361256.34 Inventories of. -public services 303,293.40 189,247.42 Inventories of food services and office supplies 19,149.00 12,555..64 Griffin Road work -in -progress - reimbursable by State - 82,698.38 Total General Fund 15435,743.67 1,449,595.51 Capital Improvement Fund Cash 3,920.85 193.,866.24 _.Amount to be provided in future periods for third'. stage of interceptor sewer 1,993,000.00 - Due from General Fund 987,306.75 500,000-.00 Due from Airport Fund 30,000.00 - Due from Hospital Fund. 80;000.00 - Due from Sewer.Utility Fund 70,000.00 - Total Capital.Improvement Fund 3,164,227.60 693,866.24 Municipal Debt Fund Amount to be provided.in future periods to retire indebtedness 9,7841960.00 .9,672,400.00 Total Municipal Debt Fund. 9,784,960.00 9,672,400.00 The accompanying notes are an integraZ part of.these.statements. LI -ABILITIES, RESERVES. AND SURPLUS December 31, 1970 General Fund Accounts payable and encumbrances Due to Capital Improvement Fund Due to Trust and Agency Fund Due to Sewer Utility Fund Due to Hospital Fund Reserves for: Town road improvement Automotive -equipment replacement Assessments to be levied in future periods. Ambulance --service Off-street parking Private services Total.Liabilities and Reserves $ 242,177.64 987,306.75 36,963..05 25,775.09 67,999.24 156,663.34 26;517.28 3,698.40 1,547,100.79 4 December. 31, 1969 $ 280,246.27 500,000.00 13,016.04 29;882.36 1419;756.10' 136,256.34 13,987.88 966.39 1,887.43 1,125,998.81, Unappropriated Surplus(06ficit-),Page 12._ (111,357.12) 323,596.70 Total General Fund 1,435,743.,67 1,449,595,51 Capital Improvement Fund Accounts.payable and encumbrances Authorized projects - unexpended balance - Pages:13 6 14 Total Capital Improvement Fund Municipal Debt Fund Bonds payable Notes payable Total Municipal Debt Fund - Pages 19 6 20 4,906.75 45,994.25 3,159,320.85 647,871.99 3,164,227.60 9,335,000.00 449,960.00 9,784,960.00 693,866.24 9,273,000.00 399,400.00 9,672,400.00 CITY .OF BANGOR COMPARATIVE BALANCE SHEET AS AT:DECEMBER.31,.1970 ASSETS Total Hospital Fund Airport Fund Cash. Accounts receivable less allowance - for doubtful accounts of $2,216.10 at 12/31/70 and $950.72 -at 12/31/69 82,.831.86 1,005:56 LIABILITIES, RESERVES,AND SURPLUS December 31,. 19'x/0 . Trust and Agency Funds Trust funds - Pages 21 .L 22 $ 402,479.90 Agency .funds -.Page .23 193;460.66 Total Trust and Agency Funds Fixed Asset Fund. Investment in fixed assets Total Fixed Asset Fund Hospital Fund Accounts payable and encumbrances Due to Capital Improvement Fund Total.Hospital.Fund. Airport Fund. 7,767.06 Accounts payable and encumbrances ,Due;;to Trust and Agency Funds Due to Capital Improvement Fund 58,985.91 50,581.76 Total Airport Fund 59,991.47 58,348.82 The accompanying notes are an integral part of these statements. Total Liabilities Retained Earnings (Deficit) - Page 15 Total. -Airport Fund 5 December 31, 1969 $ 486,380.71 177,851.79 1. 5954940.56 .. 664,232.50 18,4981624.95 18,368,571.95 18,498,624:95 -18,368,571.95, 2;831:86 80;0.00.00 .82,831.86 13,787.45 127,000.00 30,000.00 170,787.45 (110,795.98) 59,991.47 300.00 220,000.00 220,300.00 (161,951.18) 58,348.82 December 31, December 31, 1970 1969 Trust and Agency Funds Cash $ 10,800.32 $ 165826.53 Savings accounts 48,4857,66. 45,548.66 Investments in U.S: Government obligations 272,793.75 272,793.75 Investments.in.domestic,corporations 70,185.90 80J12,08 Fund -in custody,of Kirstein Fund 29,711.88 28.,951.48 Due from Airport Fund. 127,000.00. 220,000.0.0 .Due from General.Fund. 36,963.05 - Total Trust and Agency Funds; 595,940.56 664,232.50 Fixed Asset:Fund Property, plant and equipment — Page 24 18,489,629:00 18,359,576.00 City property tax deeds 8,995..95 8,995.95 Total Fixed Asset Fund 18,498;624.95 18,368,571.95 Hospital .Fund Cash- 713206.49 - Accounts.receivable less allowance for _ -doubtful accounts of $21;000.00 49.,850.28 - Due from General Fund 25,775.09. - Total Hospital Fund Airport Fund Cash. Accounts receivable less allowance - for doubtful accounts of $2,216.10 at 12/31/70 and $950.72 -at 12/31/69 82,.831.86 1,005:56 LIABILITIES, RESERVES,AND SURPLUS December 31,. 19'x/0 . Trust and Agency Funds Trust funds - Pages 21 .L 22 $ 402,479.90 Agency .funds -.Page .23 193;460.66 Total Trust and Agency Funds Fixed Asset Fund. Investment in fixed assets Total Fixed Asset Fund Hospital Fund Accounts payable and encumbrances Due to Capital Improvement Fund Total.Hospital.Fund. Airport Fund. 7,767.06 Accounts payable and encumbrances ,Due;;to Trust and Agency Funds Due to Capital Improvement Fund 58,985.91 50,581.76 Total Airport Fund 59,991.47 58,348.82 The accompanying notes are an integral part of these statements. Total Liabilities Retained Earnings (Deficit) - Page 15 Total. -Airport Fund 5 December 31, 1969 $ 486,380.71 177,851.79 1. 5954940.56 .. 664,232.50 18,4981624.95 18,368,571.95 18,498,624:95 -18,368,571.95, 2;831:86 80;0.00.00 .82,831.86 13,787.45 127,000.00 30,000.00 170,787.45 (110,795.98) 59,991.47 300.00 220,000.00 220,300.00 (161,951.18) 58,348.82 CITY .OF BANGOR -COMPARATIVE BALANCE SHEET AS AT.DECEMBER 31,.1970 ASSETS December 31, 1970 Sewer Utility Fund Current Assets Cash Accounts receivable less allowance for doubtful accounts of $5,525.23 at 12/31/70 and $5,958.65 at 12/31/69 Due from General Fund Inventory of materials and supplies Total Current Assets Utility Plant in Service Land Buildings; plant and equipment Less Accumulated depreciation Pipelines and mains Less: Accumulated depreciation Construction in progress Total.Utility Plant Other Assets Deposits with Capital.Improvement`: Fund for construction of: Perry Road sewer Dunning Blvd. storm sewer Ohio Street pump station Total Other Assets Total Sewer Utility Fund $ 953.40 $ 130,151.78 8,494.09 December 31, 1969 15,165.67 111,721.92 13,016.04 5;796.73 139,599.27 145,700:36 58,425:67 5,136,970.26 247,286.00 4,889,684.26 7,548,548.28 157,693.00 7,390,855.28 12,338,965.21 130,000.00 5,500.00 9,500.00 145,000.00 Ll LIABILITIES, RESERVES AND SURPLUS December, 31, December 31, 1970 1969 Sewer Utility Fund Current Liabilities and Reserves Accounts payable and encumbrances Due to Capital Improvement Fund Reserve .for Federal and State grants in aid of construction: Buildings and equipment. Pipelines and mains -Total Liabilities and Reserves $ 591.94 $ 70,000.00 1,650;960.00 749,040.00 1,020..61 1,650,960.00 749,040.00 2,470,591.94 2,401,020.61 Surplus City of Bangor.'s contribution 58,425.67 Utility Plant 10,3605973.6 3, 5,864,552.92. Retained earnings (deficit) - Page 16 (208,001..09) (114,,693.67) 2,6949821.73 13.9,494.00 Total.Surplus 10,152,972.54 5,749,859.25 2,555,327:73 5,4849354.22 102,850.00 5,381,504.22 9,921.88 8,005,179.50 12,623,564.48 8,150,879.86 `The accompanying notes are an integral part of these statements. w.� Total Sewer Utility Fund 12,623,564.48 8,150,879.86 CITY OF BANGOR COMPARATIVE BALANCE SHEET AS AT DECEMBER 3.1, 1970 ASSETS December 31, December 31, 1970 1969 Terminal Building Fund Cash $ 174;;864:14 $ 20,465:29 Development expenses incurred 715,958.92 77,034.71 Total Terminal Building Fund TOTAL ASSETS - ALL FUNDS 890,823.06 975500.00 $47,136,707.65 $3,9515.5,394,.88 The accompanying notes are an integral part of these statements. 7 LIABILITIES, RESERVES,AND SURPLUS December 31, December 31, 1970 1969 Terminal Building Fund, Contracts payable $ 122;977.09 $ - Reserves for: Cash grants-in-aid from.City Advances_ - 10,000.00 Proceeds from bond issue 401,000_.00 87,500.00- Federal 7,500.00Federal and State grants-in- aid of construction 360;319.00 - Interest income from temporary investments and other 6,526.97. - Total Terminal.Building.Fund.. 8902823.06 97,500.00 TOTAL LIABILITIES, RESERVES AND SURPLUS $47;136;707.65 $39,155,394.88 CITY OF BANGOR STATEMENT OF ESTIMATED AND ACTUAL REVENUES AND TAX COMMITMENT - GENERAL FUND FOR THE YEAR ENDED DECEMBER 31, 1970 Revenue Classifications Taxes Penalties and interest on delinquent taxes Auto excise tax Sub -total Licenses and Permits For street use Non -business licenses and permits Police and protection Business, professional and other Sub -total Fines, Forfeits and Penalties Use of Money and Property Municipal auditorium Municipal golf course Interest on investments Miscellaneous rents, admissions and concessions Sub -total From Other Agencies State shared taxes State grants-in-aid Federal government Payments in lieu of taxes Donations Sub -total Charges for Current Services General government Safety Highway Sanitation Health Schools Cemeteries Public buildings Recreation - miscellaneous Sub -total Transfer from Other Funds Off-street parking fund Trust fund - Bass Park Group insurance dividend Capital improvement fund Surplus Sub -total Estimated Revenue $ 30,000.00 465,000.00 495,000.00 45,100.00 6,900.00 4,275.00 4,987.00 61,262.00 28,010.00 54,200.00 57,900.00 33,000.00 20,590.00 165,690.00 90,000.00 1,223,702.00 492,735.00 42,500.00 1,848,937.00 20,410.00 21,337.00 3,480.00 1,100.00 4,200.00 402,740.00 10,500.00 18,800.00 1,000.00 483,567.00 15,000.00 5,000.00 30,000.00 300,000.00 350,000.00 Actual Revenue $ 42,461.08 482,800.35 525,261.43 36,244.00 7,894.94 5,348.50 7,285.00 56,772.44 19,313.40 44,659.29 46,395.25 35,659.32 23,532.42 150,246.28 152,357.37 1,133,030.49 475,824.09 183.48 1,761,395.43 28,962.94 7,347.07 1,944.02 3,796.20 4,960.50 391,112.11 16,427.45 16,593.00 1,362.93 472,506.22 15,000.00 52,912.91 300,000.00 367,912.91 N. Excess or (Deficiency) $ 12,461.08, 17.,800.35 30,261.43 (8,856.00) 994.94 1,073.50 2,298.00 (4,489.56) (8,696.60) (9,540.71) (11,504.75) 2,659.32 2,942.42 15,443.72) 62,357.37 (90,671.51) (16,910.91) (42,500.00) 183.48 (87,541.57) 8,552.94 (13,989.93) (1,535.98) 2,696.20 760.50 (11,627.89) 5,927.45 (2,207.00) 362.93 11,060.78) (5,000.00) 22,912.91 17;912.91 CITY OF BANGOR STATEMENT OF ESTIMATED AND ACTUAL REVENUES AND TAX COMMITMENT -.GENERAL FUND FOR THE YEAR ENDED DECEMBER 31, 1970 Revenue Classifications Reimbursements General government - miscellaneous Bangor Urban, Renewal Authority Parking and modernization Welfare Public Services Sub -total Total Revenues Other Sources Proceeds from notes issued Sub -Totals Current Year's.Tax Commitment Real property Personal property Polls Total Tax Commitment GRAND TOTALS Estimated Revenue $ 30,920.00 293,142.00 17,500.00 48,000.00 7,000.00 396,562.00 Actual Revenue $ 15,709.88 141,690.41 17,500.00 68,610.77 4,858.52 248,369.58 E Excess or (Deficiency) $ (15,210.12) (151,451.59) 20,610.77 (2,141.48) (148,192.42) 3,8295028.00 3,601,777.69 (227,250.31) 150,000.00, 150,000.00 3,979,028.00 5,431,952.00 1,369,786.00 19,104.00 6,820,842.00 3,751,777.69 5,397,457.92 1,411,085.85 20,634.00 6,829,177.77 (227,250.31) (34,494.08) 41,299.85 1,530.00 8,335.77 $10,799,870.00 $10,580,955.46 $(218,914.54) The accompanying notes are an integral part of these statements. CITY OF BANGOR STATEMENT OF APPROPRIATIONS AND EXPENDITURES - GENERAL FUND FOR THE YEAR ENDED DECEMBER 31, 1970 Operating Appropriations General Government Council Executive City Clerk Finance Registration of -voters Assessment Treasury Purchasing Planning City Solicitor Personnel Civil Service Commission Economic Development Sub -total Public Safety Police Fire Sealer of weights and measures Building inspection Civil Defense - Sub -total Health, Welfare and Recreation Hospital Health Welfare Parks and recreation Fine arts Sub -total. Public Buildings and Public Works Public buildings Public works Sub -total Miscellaneous Harbors and wharves Pensions and group insurance Contingent Debt service Sub -total Appropriation $ 7,600.00 37,993.00 73,436.00 152,044.00 13,891.00 91,436.00 52,661.00 34,335.00 129,004.00 28,700.0.0 20,353.00 1,000.00 38,400.00 680,853.00 551,315.00 740,0.72.00 125.00 51,680.00 1,135.00 1,344,327.00 77,756.00 124,,865.00 188,325.00 354,253.00 900.00 ,746,099.00 55,945.00 1,540,958.00 1,596,903.00 3,100.00 330,520.00 10,429.00 650,642.00 994,691:00 Expenditures and Encumbrances $ 7,309.51 44,833.54 73,760.19 134,524.49 13,857.38 104,732.15 50,541.36 33,879.83 109,023.06 28,431.86 20,230.43 772.95 31,529.16 653,425.91 505,174.87 722,514.82 45:57 48,092.22 766.56 1,276,594.04 139,961.13 115,620.90 228,032.09 336,831.73 816.00 821,261.85 51,900.71 1.,573,826.71 1,625,727.42 2,524.84 338,141.46 4,650.00 642,641.78 987,958.08 10 Appropriation Over (Under) Expenditures $ 290.49 (6,840.54) (324.19) 17,519.51 33.62 (13,296.15) 2,119.64 455.17 19,980.94 268.14 122.57 227.05 6,870.84 27,427.09 46,140.13 17,557.18 79.43 . 3,587.78 .168.44 b/,/3L.yb (62,205.13) 9,244.10 (39,707.09) 17,421.27 84.00 75,162.85) 4,044.29 (32,868.71) (28;824.42) 575.16 (7,621.46) 5,779.00 8,000.22 6,732.92 11 CITY OF BANGOR STATEMENT OF APPROPRIATIONS AND EXPENDITURES - GENERAL FUND FOR THE YEAR ENDED DECEMBER 31, 1970 Expenditures Appropriation and Over (Under) Operating Appropriations Appropriation Encumbrances Expenditures Other Agencies Taxes paid to .county $ 100,138.00 Public library 116,568.00 Education 5,079,057.00 Sub -total 5,295;763.00 Total Operating Appropriations 10,658,636.00 Other Appropriations Overlay - reserve for uncollected taxes 78,472.00 Recreation district tax 62,762.00 Sub -total 141,234.00 GRAND TOTAL $ 100,440.00 116,568.00 5,069,585.45 5;286,593.45 10,651,560.75 38,472.00 62;762.00 101,234.00 $ (302.00) 9,471.55 9,169.55 7,075.25 40,000.00 40,000.00 $10,799,870.00 $10,752,794.75 $ 47,075:25 The accompanying notes are an integral part of these statements. CITY OF BANGOR ANALYSIS OF UNAPPROPRIATED SURPLUS - GENERAL FUND FOR THE YEAR ENDED DECEMBER 31; 1970 Balance; January 1, 1970 Additions Excess of appropriations over expenditures, Pages 10 & 11 Proceeds from sale of City -owned property Reimbursement of cash grant made to. Terminal Building Fund Excess earnings from Hersey Fund Supplemental levy on taxes Prior years' adjustments General Fund $.14,536.08 Hospital Fund (4;002.22) Miscellaneous receipts Total Additions Sub -Total Deductions Excess of estimated over actual revenues, Pages 8 & 9 218,914.54 Add: Excess of actual over estimated revenues applicable to current year's taxes 8,335:77 Net excess charge to surplus Surplus appropriated 1970:. Estimated revenue 300,000.00 $ 47.,075.25 86,806.90 8,680.36 1,056.19 9,788.74 10,533.86 2,058.75 227;250.31 12 $ 323,596.70 166,000.05 489,596.7.5 Uncollectible accounts:, General Fund 51,858.64 Hospital Fund 21,772.87 373,631.51 Cash shortage 1970 72.05 Total.Deductions 600,953.87 Balance, December 31, 1970 $(111,357.12) The accompanying notes are an integral part of these statements. CITY OF BANGOR STATEMENT OF CAPITAL IMPROVEMENT FUND FOR.THE YEAR ENDED DECEMBER.31, 1970 Kenduskeag Stream interceptor sewer Stillwater Park - Urban Renewal Harlow Street lights School improvements Atler Harlow - Trafficicircle New City Hall - Renovation Fairmount Terrace - Land acquisition Traffic control system Sylvan Road extension Main Street sidewalk - Urban Renewal Washington Street construction Urban Renewal Broad - Independent Streets construction - Urban Renewal Pickering Square parking lot Curve Street - Land acquisition High School - Land acquisition Abraham Lincoln School - Land.acquisition Broadway traffic signal Main and Union Street traffic circle New Fire Station site Airport Support Building' Griffin - Strickland Road - Note (A) Old City Hall parking lot, Kenduskeag Park West Harlow Street sidewalk Harlow and Central traffic,.signal Water Street Perry Road sewer Auditorium roof International Arrivals Building Hanger 252 Forest Avenue lights Dunning Blvd. storm sewer Ohio Street pump station Totals 0 13 The accompanying notes are an integral part of these statements. '3alances Appropriations Disbursements and Encumbrances Transferred to Balance and Estimated Continuing Other Credits Prior Years 1970_ Total Revenue Projects $6,532,862.91 $4,552,824.38 $ 6,999.79 $4,559,824.17 $ 43,442.20 $1,929,596.54 321,472.21 225,638.89 84,526.63 310,165.52 - 11,306.69 60,000.00 24,530.90 - 24,530.90 - 35,469.10 11,601.97 10,715.44 898.50 11,613.94. - (11:970 15,000:00• 18,314.62 1,327.14 19,641.76 - (4,641.76) 379,671.93 373,263.78 6,936.76 380,200.54 - (528.61) 49,750.00, 22,399.00 7,099.27 29,498_.27 - 20,251.73 71,000.00- - - - - 71,000.00 23;000.00 13,529.29 - 13,529.29 9,470.71 - 95,000.00r 11,202.70 70,718.96 81,921.66 - 13,078.34 65,000.00 30,469.57 19,582.63 50,052.20• - 14,947.80 105,000.00' 14,925.07 3,768.66 18,693.73 - 86,306.27 105,000.00 - 2,15319 2,153..19 - 102,846.81 401000.00• - -. - - 40,000.00 55,000.005 - - - - 55,000.00 247,442.76 - 1,425.00 1,425.00 - 246,017.76 7,000.00• - 3,712.04 3,712.04 - 3,287.96 8,000.0.0 - 3,725.02 3,725:02 - 4,274.98 100,000.00• - - - - 100,000.00 201,500.00. - - - - 201,500.00 73,883.85- 82,698.38 83,596.02 166,294.40 -. (92,410.55) 81,000.00., - 1,299.86 1,299.86 - 79,700.14 11,000.00• - 1,411.58 1,411.58 - 9,588.42 15,000.00- - 12,005:55 12,005.55 - 2,994.45 8,000.00• - 674.47 674.47 - 7,325.53 30,000.00• - - - - 30,000.00 130,000:00• - 1,111.86 1,111.86 - 128,888.14 30,000.00` - - - - 30,000.00 9,265.42- - - -.. - 9,265.42 27,000.00• - 7,987.77 7,987.77 - 19,012.23• 2,000.00 - 512.43 512.43 - 1,487.57 5,500.00' - 4;736,.79 4,736.79 - 76.3.21 9,500.00- - 6,495.35 6,495.35 - 3,004.65 $8,925,451.05 $5,380,512.02 $332,705.27 $5,713,217.29 $ 52,912.91 $3,159,320.85 The accompanying notes are an integral part of these statements. CITY OF BANGOR. 14 STATEMENT OF CAPITAL IMPROVEMENT FUND FOR.THE YEAR ENDED DECEMBER 31, 1970 1970 -Appropriations Kenduskeag Stream interceptor sewer stage III ,.New Fire Station Airport Support Building - Main Street sidewalk Washington Street - Construction Broad and Independent Streets - Construction Stillwater Park - Urban Renewal Strickland Road Old City Hall parking lot Kenduskeag Park West Harlow Street sidewalk Water Street Perry Road sewer Auditorium roof International Arrivals Building .Hanger 252 Dunning Blvd. storm sewer Ohio Street pump station Appropriations Disbursements and Encumbrances and Other Credits Prior Years Soka-cc $1,993,000.00 100,000.00 —Boni USwe 201, 500.00 — bad Z'gs )QZ b 83,000.00 34;000.00 90,000.00 80,000:00 50,000.00 81,000.00 11,000:00 15,000.00 30;000.00 130,000.00 �- $EWrr Fwt� 14'70 30,000.00 9,265.42 27,000.00 5,500.00 _ g�,ser Fuel 9,500.00 Sesozr �d 1170 Note (A) This project is partially funded by the State in accordance with terms of State aid and Town Road improvement programs. At December 31, 1970 these programs contained an aggregate unexpended balance available. to the City to defer expenditures of $38,280.46. The accompanying notes are an integral part of these statements. 1970 To - �4%� tal Balances Transferred to Balance Estimated Continuing Revenue Projects. CITY OF BANGOR AIRPORT FUND COMPARATIVE INCOME AND RETAINED EARNINGS STATEMENT FOR THE YEAR ENDED DECEMBER 31, 1970 Operating Revenue Landing fees Building rental Gallonage override Reimbursement for services Equipment and area rentals Options and leases Concessions Gross business override Miscellaneous Total Operating Revenue Operating Expenses December 31, 1970 $ 114,326.01 20,492.51 162,206.58 64,244.44 44,147.17 100,154.63 59,529.21 5,608.13 15 December 31, 1969 $ 145,859.67 14,510.63 145,790.42 49,690.38 9,438.91 103,196.25. 12,139.75 1,179.08• 1,715.15 570,708.68 483,520.24 Administration 85,607.64 177,714.23 Landing area 249,854:94 187,101.69 Aircraft service area 40,123.37 22,656.59 Terminal services area 45,837.58 44;939.56 Revenue producing industrial area 63,342.37 108,573.30 International Arrivals area 26,793.61 - Total.Operating Expenses 511,559.51. 540,985.37 Net Operating Income (Deficit) 59,149.17 (57,465.13) Other Non -Operating Revenue and (Expenses) Sale of surplus property 9,132.72 - Debt service (8,806.69) - Bad debts (10,000.00) (1,000.00) Net Non -Operating Revenue and :(Expenses) (9,673.97) (1,000.00) Net Income (Deficit) 49,475:20 (58,465.13) Retained Earnings (Deficit), January 1 (161,951.18) (103,486.05) Additions Adjustment of prior years' encumbrances and other 1,680.00 - Retained Earnings (Deficit), December 31 $(110,795.98) $(161,,951.18) The accompanying notes are an integraZ part of these statements. CITY OF BANGOR SEWER UTILITY FUND COMPARATIVE INCOME AND RETAINED EARNINGS STATEMENT FOR THE YEAR ENDED DECEMBER 31, 1970 Total Operating Revenue Operating Expenses Administration Station and plant - operation and maintenance City system - operation and maintenance Total Operating Expenses Net Operating Income Non -Operating Expenses Debt service Depreciation Bad debts Total Non -Operating Expenses Net Income (Deficit) Retained earnings (deficit) at January 1 Deductions Adjustment of prior years' accounts receivable and other Retained Earnings (Deficit) at December 31 16 December 31, December 31, 1970 1969 $ 474,038.02 $ 450,489.13 14,755.27 23,885.78 99,343.78 78,864628 48;590.60 60,247.86 162,689.65 162,997.92 311,348..37 287,491.21 241,798.00 213,862,.46 162,635.00 121,200.00 - 20,000.00 404,433.00 355,062.46 (93,084.63) (67;571.25) (114,693.67) (46,193.85) 222.79 928.57 $(208,001.09) $(114,693.67) Pr The accompanying notes are an integraZ part of these statements. CITY OF BANGOR HOSPITAL FUND STATEMENT .OF REVENUE AND EXPENSES FOR THE YEAR ENDED DECEMBER.31, 1970 Operating Revenue 17 Medicare $ 7,478.39 Medicaid 28,793.31 State nursing aid 121,172.05 Full pay 99,409.01 Welfare 36,109.62 Employee meals 6,183.23 Employee pharmacy 1,464.34 Medical supplies 99.55 Rental of building 9,289.92 Total Operating Revenue $ 309,999.42 Operating Expenses Personal services 288,635.03 Supplies 67,296.39 Contractual services 49,014.12 Communications 1,304.99 Fuel and utilities 27,696.87 Rental - automative equipment 25'162.16 Employee benefits 12,618.32. Total Operating Expenses 448,727.88 Net Operating Income (Deficit) (138,728.46) Capital Outlay 1,232.67 Net Income (Deficit) Closed to General Fund Appropriation $(139,961.13) The accompanying notes are an integral part of these statements. CITY OF BANGOR STATEMENT OF PROPERTY VALUATION, ASSESSMENT AND COLLECTION OF TAXES FOR THE.YEAR ENDED DECEMBER 31, 1970 Assessed Valuation Real estate Personal property Total Valuation Tax Rate per $1,000 Taxes assessed on property Street and demolition assessment Poll taxes 1970 $126,725;200.00 33,315,700.00 $160,040,900.00 $42.50 $ 6,801,738:25 2,569.54 19,104.00 1969 $121,513,800.00 30,411,200.00 $151,925,000.00 $40.60 18 1968 $119,004,400.00 28,028,200.00 $147,032,600.00 $36.70 $ 6,168,155.00. $ 5,396,096.00 17,664.00 20,433.00 Total Tax Commitment $ 6,823,411.79 $ 6,185,819.00 ANALYSIS OF TAXES RECEIVABLE FOR 1970 Balance, January 1, 1970 Additions 1970 tax commitment Supplemental levy of taxes Sewer assessment Total Additions Deductions Collections - net Abatements 1969 real estate taxes transferred to tax liens Other adjustments - net Total Deductions Balance, December 31, 1970 Year 1970 1969 196,8 1967 1966 1965 1964 1963 and Prior $ 6,823,411.79 9,788.74 17,404.09- Total 7,404.09 6 ,636 ,703.20 21,532.00 159,800.67 239.54 SCHEDULE OF TAXES RECEIVABLE AT DECEMBER 31, 1970 Less allowance for future losses Balance, December.31, 1970 Taxes Receivable $ 553,836.78 20,083.50 9,060.08 4,733.56 4,433.18 2,283.65 607:20 3,072:51 598,110.46 33,226.54 $ 564,883.92 $ 5,416,529.00 $ 565,781.25 6,850,604.62 7,416,385.87 6,818,275.41 $ 598,110.46 Tax Liens 94,681.49 31,152.78 19,373.86 12,114.59 7,039.92 4,883.53 16,477.19 185,723.36 $ 185,723.36 CITY OF BANGOR STATEMENT OF PUBLIC DEBT AS -OF DECEMBER 31; 1950 Assessed Valuation Debt, limit-- 726 of Valuation City of Bangor outstanding debt - December 31, 1970 Additional borrowing capacity. DESCRIPTION OF DEBT 03/01/62, 340,000.00 3.00 % Date of. Amount 3,200,000.00 3.00 Original Original 08/01/62 Purpose Issue Issue Rate Bonds 400,000.00 3.00 % Permanent public improvement 10/01/54 $ 660,000.00 1.70 % Permanent public improvement 08/02/57. 100,000.00 3.60 % Sewer 11/01/57 120,000.00 3.30 % Permanent public improvement; 10/01/59 780,000.00 3.70 % Capital improvement 08/01/60 435,000.00 3.40 % Sewer 08/0.1/.61 435,000.00 3 3/8% Urban Renewal 03/01/62, 340,000.00 3.00 % High School 08/01/62 3,200,000.00 3.00 Kenduskeag Stream Improvement 08/01/62 1,650,000.00 3.001 Permanent public improvement 09/01/63 400,000.00 3.00 % Permanent public improvement 03/01/64 485,000.00 3.00 % Public improvement and funding 09/01/65 315,000.00 3..10 Public improvement 12/01/66 210,000.00 4:00 Street and sewer 12/01/66 100,000.00 4.00A Sewer and treatment plant 07/01/67 1,400;000.00 3.70 % Permanent public improvement 09/01/67 700,000.00 4.00 % Permanent public improvement 09/0.1/68 690,000.00 4.10 Permanent public improvement 08/15/69 1,060,000.00 5.75 % Permanent public improvement 07/01/70 720,000.00 6.5.0 $160,040,900,00. $12,003,067..00 9,784,960.00 $ 2,218,107..00 Balance of Matra»;tine $ 33,000.00 1971-1974 5,000.00 1977,-1977 6,000.00, 1971-1977 39,000.00, 1971-1979 20,000.00 1971-1981 15,000.,00 1982. 20,000.00 1971-1982 15,000.00 1983 20,000.0.0. 1971-1979 160,000.00 1971=1982 85,000.00 1971-1981 35,000.00 1982 20;000.00 1971-1983 25,000.00 1971-19.83 10,000.00 19.84 15,000.00 1971-1986 10,000..00 1971-1987 5,000.00 1971-1986 70,000.00 1971-1987 35,000.00 1971-.1987 35,000.00 1971-1987 25,000.00 1988 55,000.00 1971-1988 15,000.00 1989 50,000.00, 1971-1984 20,000.00, 1985 ff Principal Outstanding December,31, 1970 $ 132,000.00 35,000.00 42,000.00 351,000.00 220,000.00 15,000.00 240,000.00 15,000.00. 180,000.00 1,920,.000.00 9-35,000.00 35;000.00 260,000.00 325,000.00 10,000.00 240,000.00 170,000.00. 80,000.00 1,190,000.00 595,000:00 595,000.00 25,000.00 990,000.00 15,000.00 700,000:00 20,000.00 Total Bonds .9,335,000.00 19 CITY OF BANGOR STATEMENT OF PUBLIC DEBT AS OF DECEMBER 31i,1970 DESCRIPTION -OF DEBT Total Bonds (Brought Forward) Notes payable Total Outstanding Debt 20 Date of Amount Principal Original Original Balance of Outstanding Issue Issue Rate._ Maturities December 31, 1970 $9,335,000.00 08/22/68 05/15/69 $ 150,000.00 150,000.00 MO % 4.60 $ $ 50,000.00 50,000.00 1971 1971-1972 50,000.00 100,000.00 10/30/69 44,400.00 5.75 % 4,440.00 1971-1979 39,,960.00 1 11/01/7.0 260,000.00 4.25V' 52,000.00 1971-1975 260,000.00 �� $9,784,960.00 CITY OF BANGOR STATEMENT OF TRUST FUNDS AS AT DECEMBER 31, 1970 Balances, January 1, 1970 Unexpended Principal Income Cemetery Perpetual Care $179,511.39 $ Parks Bass Park Trust -Arthur Chapin Fund City Missionary Hiram H. Fogg Fund Louis 6 Sophia Kirstein Fund Hiram P. Oliver.Fund Penobscot Association for the Blind Fund Lorenzo E: Sabine Fund Stetson Fund Education Bangor High School Loan Fund French Medal Fund Holton Public School.Fund Louis 6 Sophia-Kirstein Scholarship Fund Louis 6 Sophia Kirstein Student Loan Fund Alburney E. Webber, Jr. Scholarship Fund Public Library Hersey Fund Aid for Aged Women Charles E. Adams Fund Thomas.Upham Coe Fund .Home for Aged Women Anna Hayford Pierce Fund Stetson Fund George T. Stodder Fund Wakefield Fund 27.60 14,537.85. 8,277.22 Additions Principal Income $ 9,116.00 $.8,495.98 2;228.38 670.29 21 Withdrawals Balances, December 31, 1970 From From 693.31 1,693.31 1,000.00 Principal Income Principal Income Total $ $ 8;495.98 $188,627:39 $ 2,000.00 $188,627.39 92.22 1,25.0.00 -2;255.:98 2,255:98 2,288.13 141537.85 6;659.38 21,197.23, 1,000.00 647.20 46.11 505.62: 1,000.00 693.31 1,693.31 1,000.00 32.3.66 46.11 150.00 1,000.00 369.77 1,369.77 2,000.00 1.,316.72 92.22 1,25.0.00 2,000.00 1,408.94 3,408.94- ,408.9410.13 10.13. 202.25 184.44 200.00 10.13 186.69 10.13 1,000.00 910.08. 46.11, 257:31 1,000..0.0 956.19 1,956.19 12,000.00 1,507.01 553.31 1,107.,40 12,000..00. 952.92 12,952.92 200.00 204:36 9.22 500.00 200.00 213.58 413.58 99600.00 563.66 500.00 .465.70 500.00 10,100..00 529.36 10,629.36• 2,0.00.00 542.56 92.22 29000.00 634.78 .2,634.78 5,'000.00 2.81 230.55 250.00 59000.;00 (16.64) 4,983.36: 28,951.48 126.64 760.40 29,711.88 126.64 29,838.52• 29000.00 .137.21 92.22- 75.00 2,000:00 154.43 2,154.43, 100,000.00 1,056.19 821.88 100,000.00 1,056.19 821.88 821..88 10_2000.00 505.62 461.09 505.62: 10,000.00 461.09 10,461.09 32000.00 151.69 138.33 150.00 3,000..00 140..02 3,140.02 25;000.00 1,264.05 1,152:73 1,25.0.00 25;000.00 1,166.78 26,166.78 4,000.00 202.25 184.44 200.00 4,000.0 0 186.69 4,186.69 5,000.00 252.81 230.55 257:31 5,000.00, 226.05 5,226.05 11,000.00 556.18 507.20 550.00 11,000.0,0 513..38 11,513.38 10,000.00 505.62 461..09 500.00 10,000.00 466.71 10,466.71 22 CITY OF BANGOR STATEMENT OF TRUST FUNDS AS AT DECEMBER 31, 1970 Balances, January 1, 1970 Additions Withdrawals Balances, December 31, 1970 Unexpended From From: Principal Income Principal Income Principal Income, Principal Income Total Other Funds Dorothea A. Miller Fund $ 500.00 $ 25.28 $ $ 23:05 $ $ 24.00 $ 500.00 ,$ 24.33 $ 524.33 Bangor Fireman's Relief Fund 9;533.95 322.45 414.10 217.50 9,533.95 519.05 10,053.00 Bangor Fuel Society Fund 4,500.00 227.53 207.49 225.00 4,500.00 210.02 49710.02 Bangor Mechanics'. Association Fund 12,000.00 6.74 553.31 600.00 12,000.00 (39.95) 11,960.05 Kirstein City Hospital and - Home Fund 500.00 123.28 23.05 500.00 146.33 646.33 Arthur J. Morey Trust Fund 19000.00 298.89 _46.11 1,000.00 345.00 1;345.00 Melvin M. Murch Fund 59732.84 1,716.42 264.30 5,732.84 1,980.72 7,713.56 O'Connell Trust -Fund 19000.00 888.02 46.11 19000.00 934.13 19934.13 Twitchell Trust Fund 766.83 229.35 35.32 766.83. 264.67 1,031.50 Flora I. Seavey Fund 19000.00 117.14 46.11 17.20 19000.00 146.05 1,146.05 Charlotte R. Hall Fund 5,000.00 230.55 760.00 4,240.00 230.55 4,470.55 Pfaff Trust Fund 800.00 36.89 800.00 36.89 836..89 Total Trust Funds $463,344.47 $23;036.24 $16,176.40 $18,952.12 $1009760.00 $189269.33 $378,760.87.,$23,719.03 $402,479.90 23 CITY OF BANGOR STATEMENT OF AGENCY FUNDS DECEMBER 31, 1970 Amounts Due the State of Maine Pension and group life insurance contribution $ 27,776.79 Hunting, fishing and plumbing license fees 1,227.70 Sales tax 330.26 State income tax withheld 10,948.35 Total $ 409-283.10 Amounts Held in Escrow Cianchette Bros., Inc. 12,937.00 Other Workmen's compensation insurance (20,948.61) Savings bonds 426.92 Miscellaneous.deductions and deposits 14,044.25 United Community Services of Penobscot Valley, Inc. 340.84 Associated Hospital Service of Maine, Inc. 6,272.56 Federal income tax withheld 137,858.80 Federal grants - Police and safe streets act 2,245.80 Total 140,240.56 Total Agency .Funds $193,460.66 CITY OF BANGOR STATEMENT OF PROPERTY FUND AS INVENTORIED AND.APPRAISED IN 1970 Buildings Land Streets Sidewalk - Bridges Retaining Walls Statues Electrical Street signs Total 24 $ 9,780,770.00 1,995,970.00 4,823,355.00 411,644.00 749,350.00 164,020.00 210,000.00 345,556.00 8,964.00 $18,489,629.00 CITY OF BANGOR NOTES TO FINANCIAL STATEMENTS FOR THE .YEAR ENDED DECEMBER 31, 1970 Note 1 - General Fund - Restatement of 1969 Balances The balance sheet of -the General Fund as at December 31, 1969 has been restated in order to reflect 1969 balances on a comparable basis with 1970 financial statement presentation. Accordingly; the balances shown for the following reserve accounts - Ambulance Service, Off Street Parking, and Private Services - were reclassified from accounts receivable and accounts payable for $13,987.88 and $2,853.82 respectively. Supplemental Information At December 31, 1970 the City has requested reimbursement for expenditures incurred in the construction of Stage II of the-Kenduskeag Interceptor Sewer from State and Federal agencies of the,Environmental Improvement Commission as per terms of the Federal Water Polution Control Act, as amended (33 U.S.C. et seq.). As of this date final approval .has not been received from the. Federal agency and therefore the total request of�$233;300 has not been reflected in the City's financial statements.