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1969CITY OF BANGOR FINANCIAL STATEMENTS as at DECEMBER 31, 1969 CA F (2s44.4 (I k I BROOKS & CARTER Certified Public Accountants 84 HARLOW STREET BANGOR, MAINE 04401 v AUDIT REPORT AND FINANCIAL STATEMENTS CITY OF BANGOR, MAINE AS AT DECEMBER 31, 1969 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 Expenditures - General Fund Analysis of Unappropriated Surplus - General Fund Statement of Capital Improvement Fund Statement of Revenue and Expenditures - Airport Fund Statement of Income and Expense - Sewer Utility 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 Page 2-3 4-6 7-8 9-10 11 12 13 14 15 16 17-18 19 20 BROOKS & CARTER Certified Public Accountants 84 HARLOW STREET BANGOR, MAINE 04401 FRANK M. CARTER, CPA RAYMOND T. ADAMS JR., CPA TELEPHONE 847-0351 GEORGE W. CHEBBA, CPA March 27, 1970 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, 1969, appearing on pages 4 through 14. 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 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, 1969, and the results of operations of the General, Capital Improvement, Airport and Sewer Utility 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 15 to 20 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, V— d;2�� Certified Public Accountants CITY OF.BAN.GOR COMPARATIVE BALANCE SHEET AS AT DECEMBER 31. 1969 ASSETS General Fund Cash Accounts receivable less allowance for doubtful accounts Taxes received less allowance for future losses of $21,828.01 at December 31, 1969 and $18,146.48 at December 31, 1968 Taxes secured by liens and deeds Taxes secured by sewer liens Town road.improvement fund due from State Street and sewer assessments deferred Inventories of public works materials, etc. Inventory - School food services Griffin Road work -in -progress - reimbursable by State Total General Fund Capital Improvement Fund Cash Accounts receivable Amount to be provided in future periods for second stage of interceptor sewer Due from General Fund Due from Airport Fund Total Capital Improvement Fund Municipal Debt Fund Amount to be provided in future periods to retire indebtedness Total Municipal Debt Fund Trust and Agency Funds 4 $ LIABILITIES, RESERVES AND SURPLUS December 31, December 31, December 31, December 31, 1969 1968 196.9 1968 General Fund 2,275.59 $ 7,550.56 Accounts payable and encumbrances $ 283,100.09 $ 354,021.57 Due to Capital Improvement Fund 500,000.00 200,000.00 272,172.09 257,675.15 Due to Sewer Utility Fund 13,016.04 - Reserves for: Town road improvement 29,882.36 24,668.12 543,953.24 403,595.52 Automotive equipment replacement 149,756.10 75,604.67 166,155.07 144,102.53 Assessments to be levied in future 411.50 411.50 periods 136,256.34 135,931.27 29,882.36 24,668.12 136,256.34 135,931.27 Total Liabilities and Reserves 1,112,010.93 790,225.63 192,925.75 182,379.45 8,877.31 - Unappropriated surplus 323,596.70 366,088.47 82,698.38 - 1,435,607.63 1,156,314.10 Total General Fund 1,435,607.63 1,156,314.10 Capital Improvement Fund 193,866.24 115,848.14 Accounts payable and encumbrances 45,994.25 462,529.95 - 391,990.00 Authorized projects - unexpended balance 647,871.99 635,308.19 - 300,000.00 500,000.00 200,000.00 - 90,000.00 693,866.24 1,097,838.14 Total Capital Improvement Fund 693,866.24 1,097,838.14 Municipal Debt Fund Bonds payable 9,273,000.00 8,816,000.00 9,672,400.00 9,466,000.00 Notes payable 399,400.00 650,000.00 9,672,400.00 9,466,000.00 Cash 16,826.53 Savings accounts 45,548.66 Investments in U.S. Government obligations 272,793.75 Investments in domestic corporations 80,112.08 Fund in custody of Kirstein Fund 28,951.48 Due from Airport Fund 220,000.00 2,372.99 45,548.66 336,567.55 90,014.08 27,941.47 Total Trust and Agency Funds 664,232.50 502,444.75 Total Munici Trust and Agency Funds Trust funds 'Agency funds Debt Fund 9,672,400.00 9,466,000.00 486,380.71 471,922.87 177,851.79 30,521.88 Total Trust and Agency Funds 664,232.50 502,444.75 C-1TY'_:OF.. BANGOR COMPARATI.VE..BALANCE SHEET AS AT DECEMBER 31; 1969 ASSETS Sewer Utility Fund Current Assets Cash Accounts receivable less allowance for doubtful accounts Due from General Fund. Inventory Total Current Assets Utility Plant in Service Land Buildings Exterior construction Machinery and equipment Less: Accumulated depreciation Pipelines,and mains Less: Accumulated depreciation Construction in progress Total Utility Plant Total Sewer Utility Fund Fixed Asset Fund Property, plant and equipment City property tax deeds Total Fixed Asset Fund Airport Fund— Cash undCash Accounts receivable less allowance for doubtful accounts Total.Airport Fund December 31, 1969' $ 15,165.67 $ 111,721.92 13,016.04 5,796.73 145,700.36 58,425.67 December 31, 1968 16,763.22'' 119,109.89✓ 135,873.11 58,425:67 1,165,434.12 1,165,434.12 279,017.57 279,017.57 1,250,370.04 1,250,370.04 2,694,821.73 2,694,821.73 139,494.00 69,719.00✓ 2,555,327.73 2,625,102.73 5;484,354.22 5,385,155.52 102,850.00 51,425.00 ✓ 5,381,504.22 5,333,730.52 9,921.88 99,198.70 8,005,179.50 8,116,457.62 8,150,879.86 8,252,330.73 . 18,359,576.00 18,293,676.00 8,995.95 7,725.18 18,368,571.95 18,301;401.18 LIABILITIES, RESERVES AND SURPLUS December 31, 1969 Sewer Utility Fund Current Liabilities and Reserves Accounts payable and encumbrances $ Reserve for Federal and State grants in aid of construction: Buildings and equipment Pipelines and mains Total Liabilities and Reserves 1,020.61 $ 1,650,960.00 749,040.00 2,401,020.61 5 December 31, 1968 33,971.66- 1,650,960.00 749.040.00 2,433,971.66 Surplus City of Bangor's contribution - fixed assets 5,864,552.92 5,864,552.92 Retained earnings (114,693.67) (46,193.85) Total Surplus 5,749,859.25 5,818,359.07 Total Sewer Utility Fund Fixed Asset Fund Investment in fixed assets Total Fixed Asset Fund 8,150,879.86 8.252,330.73 18,368,571.95 18,301,401.18 18,368,571.95 18,301,401.18 Air t Fun 7,767.06 562.56 Accounts payable and encumbrances 300.00 25,259.05 Due to Trust and Agency Funds 220,000.00 - 50,581.76 11,210.44 Due to Capital Improvement Fund, - 90,000.00 Total Liabilities 220,300.00 115,259.05 Retained earnings (deficit) - Schedule (161,951.18) (103,486.05) 58,348.82 11,773.00 Total.Airport Fund 58,348.82 11,773.00 CITY OF BANGOR COMPARATIVE BALANCE SHEET AS AT DECEMBER 31, 1969 ASSETS December 31, December 31, 1969 1968 Terminal Building Fund Cash $ 20,465.29 $ 88,819.64 Development expenses incurred 7.7,034.71 8,680.36 Total Terminal Building Fund TOTAL ASSETS - ALL FUNDS 97,500.00 97,500.00 $39,141,407.00 $38,885,601.90 [t1 LIABILITIES, RESERVES AND SURPLUS December 31, December 31, 1969 _ 1968 Terminal Building Fund Cash grants - in aid from City Advances $ 10,,000.00 $ 10,000.00 Proceeds from bond issue 87,500.00 87,500.00 Total Terminal Building Fund 97,500.00 97,500.00 TOTAL LIABILITIES, RESERVES AND SURPLUS $39,141,407.00 $38,885,601.90 CITY OF BANGOR STATEMENT OF ESTIMATED AND ACTUAL REVENUES AND TAX COMMITMENT - GENERAL FUND FOR THE YEAR ENDED DECEMBER 31, 1969 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 licenses 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 Sub -total Charges for Current Services General government Safety Highway Sanitation Health Hospitals 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 Sub -total Estimated Revenue $ 20,000.00 400,000.00 420,000.00 48,060.00 6,280.00 3,630.00 2,762.00 60,732.00 31,500.00 52,000.00 51,700.00 25,000.00 32,070.00 160,770.00 70,000.00 945,523.00 329,438.00 62,500.00 1,407,461.00 16,875.00 7,700.00 4,100.00 1.,100. 00 4,200.00 435,000.00 324,110.00 9,500.00 18,000.00 600.00 821,185.00 27,000.00 5,000.00 5,000.00 449,142.00 486,142.00 Actual Revenue $ 22,484.22 412,900.70 435,384.92 46,048.93 5,500.69 4,140.50 1,967.00 57,657.12 27,882.05 51, 504. 37 47,387.25 38,742.05 36,898.52 174,532.19 129,718.53 1,035,242.82 323,761.60 21,165.28 1,509,888.23 18,787.06 8,009.50 8,848.22 12,975.41 4,267.00 282,277.19 336,102.18 15,224.02 19,013.10 1,619.59 707,123-27 25,700.00 5,000.00 26,335.31 337,284.27 394,319.58 7 Excess or (Deficiency) $ 2,484.22 12,900.70• 15,384.92 (2,011.07) (779.31) 510.50 _ (795.00) 3,074.88) (3,617.95) (495.63) (4,312.75) 13,742.05 4,828.52 13,762.19 59,718.53 89,719.82 (5,676.40) (41,334.72) 102,427.23 . 1,912.06 309.50 4,748.22 11,875.41 67.00 (152,722.8l)- 11,992.18 5,724.02 1,013.10 1,019.59 (114,061.73) (1,300.00) 21,335.31 (111,857.73)- (91,822.42) CITY OF BANGOR STATEMENT OF ESTIMATED AND ACTUAL REVENUES AND TAX COMMITMENT - GENERAL FUND FOR THE YEAR ENDED DECEMBER 31. 1969 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 Current Year's Tax Commitment Real property Personal property Polls Total Tax Commitment GRAND TOTALS Estimated Revenue $ 30,875.00 124,180.00 17,500.00 33,000.00 297,371.00 502,926.00 Actual Revenue $ 3,267.04 95,202.19 17,500.00 37,881.69 34,367.95 188,218.87 3,890,716.00 3,495,006.23 150,000.00 4,040,716.00 5,107,750.00 1,045,784.00 19,000.00 6,172,534.00 $10,213,250.00 35495,006.23 4,935,525.14 1,230,395.72 17,553.00 6,183,473.86 $9,678,480.09 # -7 x F s E: Excess or (Deficiency) $ (27,607.96)- (28,977.81). 4,881.69 (263,003.05). 314,707.13) (395,709.77) (150,000.00)- (545,709.77) (172,224.86) ----184,611.72 (1,447.00) 10,939.86 • $(534,769.91) CITY OF BANGOR GTATEMENT OF APPROPRIATIONS -AND. -EXPENDITURES - GENERAL FUND FOR THE'YEAR ENDED'DECEMBER 31, 1969 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 $ 6513,55.00 35,919.00 55,971.00 131,387.00 14,387.00 83,774.00 46,774.00 31,140.00 149,750.00 28$00.00 16,081.00 1,350.00 32,443.00 633,831.00 512,983.00 685,164.00 50.00 34,761.00 6,390.00 1,239$48.00 354,824.00 105,799.00 159,804.00 346,358.00 1,500.00 968,285.00 38,394.00 1$67,017.00 151605,411.00 4,900.00 321,200.00 144,390.00 482,267.00 952,757.00 Expenditures and Encumbrances $ 6,527.74 38,146.50 65,031.68 104,223.49 13,636.44 87,308.22 41,998.07 30,883.74 115,442.62 14,649.61 17,034.77 22,594.22 557,477.10 481,616.40 677,236.97 35,041.54 707.41 111194,602.32 400,780.49 93,348.69 167,973.68 300,958.56 819.48 963,880.90 48,973.64 1,298,301.34 1,34711274.98 1,718.96 294,705.57 2,945.00 534,583.40 833,952.93 9 Appropriation Over (Under) Expenditures $ (172.74) (2,227.50) (9,060.68) 27,163.51 750.56 (3,534.22) 4,775.93 256.26 34,307.38 13,850.39 (953.77) 1,350.00 9,848.78 76,353.90 31,366.60 7,927.03 50.00 (280.54) 5,682.59 ':44,745.68 (45,956.49) 12,450•.31 (8,169.68) 45,399.44 680.52 4,404.10 (10,579.64) 268,715.66 258,136.02 3,181.04 26,494.43 141,445.00 (52,316.40) 118,804.07 CITY OF BANGOR STATEMENT OF APPROPRIATIONS AND EXPENDITURES - GENERAL FUND FOR THE YEAR ENDED DECEMBER 31. 1969 Operating Appropriations Other Agencies Taxes paid to county Public library Education Sub -total Total Operating Appropriations Other Appropriations Overlay - reserve for uncollected taxes Recreation district tax Sub -total 10 19,317.00 63,874.00 83,191.00 19,317.00 63,874.00 83,191.00 GRAND TOTAL $10,21311250.00 $9,685,423.54 $527,826.46 Expenditures Appropriation and Over (Under) Appropriation Encumbrances Expenditures $ 145,000.00 $ 105,138.00 $ 39,862.00 1195038.00 1195038.00 - 4,466,389.00 4,480,868.31 (14,479.31) 45730,427.00 45705,044.31 25,382.69 105130,059.00 9,602,232.54 527,826.46 19,317.00 63,874.00 83,191.00 19,317.00 63,874.00 83,191.00 GRAND TOTAL $10,21311250.00 $9,685,423.54 $527,826.46 CITY OF BANGOR ANALYSIS OF UNAPPROPRIATED SURPLUS - GENERAL FUND FOR THE YEAR ENDED DECEMBER 31, 1969 Balance, January 1, 1969 Additions Excess of appropriations over expenditures, page 10 Proceeds from sale of City -owned property Proceeds from workman's compensation settlement with insurance company Miscellaneous receipts from urban renewal Supplemental levy on taxes Excess earnings from Hersey Fund Total Additions Sub -Total Excess of estimated over actual revenues, page '8 Add: Excess of actual over estimated revenues applicable to current year's taxes Net excess charge to surplus Surplus appropriated in 1969: For Sibley Court construction For uncollectible accounts Prior year's adjustments Cash shortage 1969 Total Deductions Balance, December 31, 1969 $534,769.91 10,939.86 2,000.00 20,000.00 $527,826.46 11,459.50 4,150.00 520.11 1,193.00 759.18 545,709.77 22,000.00 20,561.50 11 a t $366,088.47 545,908.25 911,996.72 588,400.02 $323,596.70 .CITY OF BANGOR - STATEMENT OF CAPITAL IMPROVEMENT FUND FOR THE YEAR ENDED DECEMBER 31, 1969 Kenduskeag Stream interceptor sewer Stillwater Park - Urban Renewal Grandview Avenue - West Sylvania Access road Fourteenth Street - Extension and storm sewer Harlow Street Lights School Improvements Atler Harlow - Traffic circle. New City Hall - Renovation, Marina landing - Acquisition Fairmount Terrace - Land acquisition Traffic control system Sylvania 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 Totals 1969 Appropriations Fairmount Terrace - Land acquisition Main Street sidewalks - Urban Renewal Washington Street construction - Urban Renewal Broad -Independent Streets construction - Urban Renewal Pickering Square parking lot Sylvania Road extension Curve Street - Land acquisition High school - Land acquisition Abraham Lincoln School - Land acquisition 105,000.00 105,000.00 40,000.00 55,000.00 247,442.76 $6,758,306.69 $ 25,000.00 95,000.00 65,000.00 105,000.00 105,000.00 23,000.00 40,000.00 55,000.00 247,000.00 $5,358,313.70 14,925.07 14,925.07 $414,836.73 $5,773,150.43 90,074.93 105,000.00 40,000.00 55.000.00 247,442.76 $337,284.27 $647,871.99 12 Balances Appropriations Disbursements and Encumbrances Transferred to Balances and Estimated Continuing Other Credits Prior Years 1969 Total Revenue Projects $4,565,028.76 $4,303,005.77 $249,818.61 $4,552,824.38 $ - $ 12,204.38 271,472.21 224,779.49 859.40 225,638.89 30,000.00---" 15,833.32 30,000.00 20,523.65 - 20,523.65 9,476.35''° - 87,315.14 87,570.37 - 87,570.37 - (255.23) 358,000.00 316,333.80 2,260.94 318,594.74 39,405.26- .80,000.00 24;431.76 99.14 24,530.90 20,000.00-- 35,469.10 25,000.00 24,113.47 - 24,113.47 - 886.53 15,000.00 10,349.12 7,965.50 18,314.62 - (3,314.62) 406,047.82 311,956.27 61,307.51 373,263.78 30,000.00^ 2,784.04 35,000.00 35,250.00 - 35,250.00 - (250.00) 50,000.00 - 22,399.00 22,399.00 - 27,601.00 100.000.00 - - - - 100,000.00 23,000.00 - 13,529.29 13,529.29 - 9,470.71 95,000.00 - 11,202.70 11,202.70 83,797.30" - 65,000.00 - 30,469.57 30,469.57 34,530.43 105,000.00 105,000.00 40,000.00 55,000.00 247,442.76 $6,758,306.69 $ 25,000.00 95,000.00 65,000.00 105,000.00 105,000.00 23,000.00 40,000.00 55,000.00 247,000.00 $5,358,313.70 14,925.07 14,925.07 $414,836.73 $5,773,150.43 90,074.93 105,000.00 40,000.00 55.000.00 247,442.76 $337,284.27 $647,871.99 12 CITY OF BANGOR AIRPORT FUND INCOME AND RETAINED EARNINGS STATEMENT FOR THE YEAR ENDED DECEMBER 31, 1969 Revenue 13 Landing fees $145,859.67 Building rental 14,510.63 Gallonage override 145 790.42 Reimbursement for services 49,690.38 Equipment and area rentals 9,438.91 Options and leases 103,196.25 Concessions 12,139.75 Gross business override 1,179.08 Miscellaneous 1,715.15 Total Revenue $ 483,520.24 Expenditures Administration 177,714.23 Landing area 187,101.69 Aircraft service area 22,656.59 Terminal services area 44,939.56 Revenue producing industrial area 108,573.30 Bad debts 1,000.00 Total Expenditures 541,985.37 Net Deficit (58,465.13) Retained earnings at January 1, 1969 (103,486.05) Retained Earnings at December 31, 1969 $(161,951.18) 14 CITY OF BANGOR SEWER UTILITY FUND INCOME AND RETAINED EARNINGS STATEMENT FOR THE YEAR ENDED DECEMBER 31, 1969 Total Operating Revenue $ 450,489.13 Operating Expenses Administration 23,885.78 Station and plant - operation and maintenance 78,864.28 City system - operation and maintenance 60,247.86 Total Operating Expenses 162,997.92 Non-operating Expenses Debt service 213,862.46 Depreciation 121,200.00 Bad debts 20,000.00 Total Expenses .518,060.38 Net Deficit (67,571.25) Retained earnings at January 1, 1969 $(46,193.8'5) Deductions Adjustment of prior years accounts receivable and other 928.57 (47,122.42) Retained Earnings at December 31, 1969 $(1145693.67) 15 CITY OF BANGOR STATEMENT OF PROPERTY VALUATION, ASSESSMENT AND COLLECTION OF TAXES, FOR THE YEAR ENDED DECEMBER.31, 1969 Assessed Valuation 1969 1968 1967 Real estate. $121,513;80.0.00 $119,004,400.00 $117,7615,900.00 Personal property 30,411,200.00 28,028,200.00 25,824,100.00 Total Valuation $1511,925,000.00 $147,0325600.00 $143,586,000.00 Tax Rate per $1,000 $40.60 $36.70 $35.00 Taxes assessed on property $ 65168,155.00 $ 55396,096.00- $ 5,025,510.00 Poll taxes 17,664.00 20,433.00 19$65.00 Total Tax Commitment $ 65185,819.00 $ 5,416,529.00 $ 5,044,875.00 ANALYSIS OF TAXES RECEIVABLE FOR 1969 Balance, January 1, 1969 $ 4215742.00 Additions 1969 tax commitment $ 6,185,819.00 Supplemental levy of taxes 1,193.00 Sewer assessment 185188.60 Total Additions, 6,2055200.60 6,626,942.60 Deductions Collections - net; 5,912,815.31 Abatements 275649.70 1968 real estate taxes transferred to tax liens 1205770.14 Other adjustments - net (73.80) Total Deductions. 650615161.35 Balance, December 31, 1969 $ 565,781.25 SCHEDULED TAXES RECEIVABLE AT DECEMBER 31, 1969 Year Taxes -Receivable Tax Liens 1969 v $ 526,514.33 $ - 1968 .215059.70 655024.20 1967 1,. 6,577.94 37,013.46 1966 1965 4;989.44 25660.46 215630.20 11,081.97 1964 \, - 756.87 7,272.58 1963 and prior ` 3,222.51 245132.66 565,781.25 166,155.07 Less allowance for.future losses 21,828.01 - Balance, December 31, 1960 $ 543,953.24 $ 166,155.07 16 . CITY OF BANGOR STATEMENT OF PUBLIC DEBT AS OF DECEMBER 31, 1969 Assessed valuation $151,925,000.00 Debt limit - 73-2% of valuation $11,394,375.00 City of Bangor outstanding debt - December 31, 1969 9,672,400.00 Additional borrowing capacity $ 1,721,975.00 DESCRIPTION OF DEBT Date of Amount Principal Original Original Balance of Outstanding Purpose Issue Issue Rate Maturities December 31, 1969 Bonds Permanent public improvement 10/1/54 $ 660,000.00 1.70 % $ 33,000.00• 1969-1974 $ 165,000.00 Permanent public improvement 8/1/57 100,000.00 3.60 % 5,000.00- 1969-1977 40,000.00 Sewer 11/1/57 120,000.00 3.30 % 6,000.00• 1969-1977 48,000.00 Permanent public improvement 10/1/59 780,000.00 3.70 % 39,000.00.. 1969-1979 390,000.00 Capital improvement 8/1/60 435,000.00 3.40 % 20,000.00• 1969-1981 240,000.00 15,000.00 1982 15,000.00 Sewer 8/1/61 435,000.00 3 3/8% 20,000.00• 1969-1982 260,000.00 15,000.00 1983 15,000.00 Urban Renewal 3/1/62 340,000.00 3.00 % 20,000.004 1969-1979 200,000.00 High School 8/1/62 3,200,000.00 3.00 % 160,000.00• 1969-1982 2,080,000.00 Kenduskeag Stream improvement 8/1/62 1,650,000.00 3.00 % 85,000.00 1969-1981 1,020,000.00 35,000.00 1982 35,000.00 Permanent public improvement 9/1/63 400,000.00 3.00 % 205'000.00• 1969-1983 280,000.00 Permanent public improvement 3/1/64 485,000.00 3.00 % 25,000.00' 1969-1983 350,000.00 10,000.00 1984 10,000.00 Public improvement and funding 9/1/65 315,000.00 3.10 % 15,000.00' 1969-1986 255,000.00 Public improvement 12/1/.66 210,000.00 4.00 % 10,000.00. 1969-1987 180,000.00 Street and sewer 12/1/66 100,000.00 4.00 % 5,000.00. 1969-1986 85,000.00 Sewer and treatment plant 7/1/67 1,400,000.00 3.70 % 70,000.00• 1969-1987 1,260,000.00 Permanent public improvement 9/1/67 700,000.00 4.00 % 35,000.00• 1969-1987 630,000.00 Permanent public. improvement 9/1/68 690,000.00 4.10 % 34,500.00• 1969-1988 655,000.00 Permanent public improvement 8/15/69 1,060,000.00 5.75 % 55,000.00 1970-1988 1,045,000.00 ' 15,000.00 1989 15,000.00 Total Bonds 9,273,000.00 Notes payable 8/22/68 150,000.00 3.2 % 50,000.00 1969-1971 100,000.00 5/15/69 150,000.00 4.6 % 50,000.00 1970-1972 150,000.00 10/1/69 445400.00 5.75 % 4,440.00 1970-1979 44,400.00 , 12/1/69 105,000.00 5.90 % 21,000.00 1970-1974 105,000.00 a Total Outstanding Debt $9,672,400.00 CITY OF BANGOR STATEMENT OF TRUST FUNDS AS AT DECEMBER 31, 1969 Balances, January 1, 1969 Additions Unexpended Principal Income Principal Cemetery Perpetual Care $167,405.18 $ $12,106.21 Parks Bass Park Trust Arthur Chapin 'Fund City Missionary Hiram H. Fogg Fund Louis & 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 Houlton Public School Fund Louis & Sophia Kirstein Scholarship Fund Louis & 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 Income $ 9,076.45 17 Withdrawals Balances, December 31, 1969 from Income Principal Income Total $ 9,076.45 $179,511.39 $ $179,511.39 2,627.11 2,400.49 5,000.00 27.60 27.60 14,537.85 7,542.20 735.02 14,537.85 8,277.22 22,815.07 1,000.00 596.64 50.56 1,000.00 647.20 1,647.20 1,000.0,0 273.10 50.56 1,000.00 323.66 1,323.66 2,000.00 1,215.60 101.12 2,000.00 1,316.72 3,316.72 137.13 (127.00) 10.13 10.13 1,000.00 859.52 50.56 1,000.00 910.08 1,910.08 12,000.00 1,302.23 616.74 411.96 12,000.00 1,507.01 13,507.01 200.00 194.25 10.11 200.00 204.'36 404.36 9,600.00 78.27 485.39 9,600.0-0 563.66 10,163.66 2,000.00 441.44 101.12 2,000.00 542.56 2,542.56 5,000.00 (23.11) 275.92 250.00 5,000.00 2.81 5,002.81 27,941.47 126.64 1,010.01 28,951.48 126.64 29,078.12 2,000.00 111.09 101.12 75.00 2,000.00 137.21 2,137.21 100,000.00 759.18 5,056.19 4,759.18 100,000.00 1,056.19 101,056.19 10,000.00 453.79 505.62 453.79 10,000.00 505.62 10,505.62 3,000.00 136.13 165.56 150.00 3,000.00 151.69 3,151.69 25,000.00 1,134.49 1,379.56 1,250.00 25,000.00 1,264.05 26,264.05 4,000.00 181.51 220.74 200.00 4,000.00 202.25 4,202.25 5,000.00 226.89 252.81 226.89 5,000.00 252.81 5,252.81 11,000.00 499.17 607.01 550.00 11,000.00 556.18 11,556.18 10,000.00 453.79 551.83 500.00 10,000..00 505.62 10,505.62 CITY OF BANGOR STATEMENT OF TRUST FUNDS AS AT DECEMBER 31, 1969. Balances, January 1,,_1969 Unexpended Principal Income Other Funds. Dorothea A. Miller Fund Bangor Fireman's Relief Fund,_ Bangor Fuel,Society Fund Bangor.Mechanics' Association Fund Kirstein City Hospital and Home Fund Arthur J. Morey. Trust Fund Melvin M. Murch Fund O'Connell Trust Fund Twitchell.Trust Fund Flora I: Seavey Fund Total Trust Funds $449,855.25 Withdrawals_ 9,533.95 78.35 411500.00 (20.80) 121P000.00 (55.45) 500.00 98.00 1,000.00 248.33 5,732x84 1,426.60 1,000.00 837.46 766.83 190.62 1,000.00 74.58- 4.58 $449.,855.25 $22,067.62 18 Additions Withdrawals_ Balances, December 31, 1969 from Principal Income.. Income Principal Income Total $ 500.00 $ 25.28 $ $_ 500.00 $ 25.28 $ 525.28 454.10. 210.00 9,533.95 322.45 9,856.40 248.33 4,500.00 227.53 4,727.53 662:19 600.00 12,000.00 6.74 12,006.74 25.28 500.00 123.28 623:28 50.,56 1,000.00 298.89 1,1298.89 289.82 5,732.84 1.,716.42 70449.26 50.56 1,000.00 888,02 1.,888.02 38.73 766.°83 229.35 996.18 50.56 8.00 1,000.00 117.14 1.,117.14 $13,489.22 $24,689.89 $23,721.27 $4633*344.47, $23,036.24 $486,380.7.1 19 CITY OF BANGOR STATEMENT OF AGENCY FUNDS DECEMBER 31, 1969 Amounts Due the State of.Maine Pension contribution $ 25,246.89 Group life insurance (3,007.50) Hunting, fishing and plumbing license fees 1,177.73 Survivors benefits (13.65) Sales tax (63:56) State income tax withheld 8,816.65 Total $ 32,156.56 Amounts Held in Escrow Cianchette Bros., Inc. 11,952.99 Other Workmen's compensation insurance (30,740.11) Savings bonds 2,757.69 Miscellaneous deductions and deposits 29,044.96 Maine Teachers Association 3,352.90 United Community Services of Penobscot Valley, Inc. 461.50 Associated Hospital Service of Maine, Inc. 688.70 Federal income tax withheld 128,176.60 Total 133,742.24 Total Agency Funds $177,851.79 20 CITY OF BANGOR STATEMENT OF PROPERTY FUND AS INVENTORIED AND APPRAISED IN 1969 Buildings $10,093,070.00 Land 1,951,520.00 Streets 4,425,452.00 Sidewalks 4115644.00 Bridges 749,350.00 Retaining Walls 164,020.00 Statues 210,000.00 Electrical 345,556.00 Street signs 8,964.00 Total $18,359,576.00 J