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Home My WebLink About1984-1985.AuditReport.Library � � � CAPE GI RARDEAU PUBLIC LIBRARY Cape Girardeau, Missouri � � June 30, 1985 � CONTENTS Pa e � Auditors' Report. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 1 Statement of Revenues Collected, Expenditures Paid, and Changes in Fund Balance: � Librar er Y �P ating Fund. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 � Library Contribution Fund. . . . . . . . . . . . . . . . . . . . . . . . . . 3 Library Supplement Fund. . . . . . . . . . . . . . . . .. . . . . . . . .. . 4 � Library Building Fund. . . . . . . . . . . . . . .. . . .. . . . . . . . . . . 5 � State Aid Fund. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Cash Collection Fund. . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 7 � Notes to Financial Statements. . . . . . . . . . . . . . . . . . . . . . . . . . . 8 � � � � � � � � � KRAFT, MILES & TATUM CERTIFIED PUBLIC ACCOUNTANTS OTHER OFFICES � 1 2 2 1 B R O A D W A Y, C A P E G I R A R D E A U , M I S 5 O U R I 6 3 7 O 1 KENNETT, MO. ( 3 1 4 ) 3 3 4-3 O 1 1 POPLAR BLUFF, MO. WEST PLAINS, MO. September 8, 1985 � � To the Board of Trustees Cape Girardeau Public Library Cape Girardeau, Missouri � We have examined the accompanying statements of revenues collected, � expenditures paid, and changes in fund balances of the funds listed below of the Cape Girardeau Public Library, for the year ended June 30, 1985. � Library Operating Fund Library Contributions Fund Library Supplement Fund � Library Building Fund State Aid Fund Cash Collection 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. It is the policy of the Library to prepare its financial statements on � the basis of cash receipts and disbursements; consequently certain revenues are recognized when received rather than when earned, and certain expenses are recognized when paid rather than when the � obligation is incurred. Additionally, the Library neither maintains balance sheet accounts for the various funds nor does it provide depreciation for certain fixed assets. Instead, the Library records the total expenditures as an expense of the fund in the period the payment � is made. Accordingly, the accompanying statements of cash receipts, disbursements and fund balances are not intented to present financial position and results of operations in conformity with generally accepted � accounting principles. In our opinion, the aforementioned statements, prepared on a cash basis, � present fairly the balances of the funds listed above of the Cape Girardeau Public Library, at June 30, 1985, and the cash transactions for the year then ended, on a basis consistent with that of the preceding year. � �i�d �-�'-o �r- .�-��,.�.1 � � Certified Public Accountants � MEMBERS-AM ERICAN INSTITUTE OF,CERTI FtED PU BLIC ACCOUNTANTS � M EM BERS-M ISSOU R I SOCI ETY OF CERTI FI ED PU BLIC ACCOU NTANTS � CAPE GIRARDEAU PUBLIC LIBRARY � Cape Girardeau, Missouri LIBRARY OPERATING FUND � STATEMENT OF REVENUES COLLECTED, EXPENDITURES PAID, AND CHANGES IN FUND BALANCE � Year Ended June 30, 1985 � REVENUES COLLECTED: Property taxes $ 276,797 Fines and forfeitures g�827 � Interest received 11,179 Fees and service charges 6,516 Total revenues collected 303,319 � EXPENDITURES PAID: Salaries 182,569 General operations 14,928 � Contractual services 47,162 Miscellaneous charges 1,000 Capital outlays 58,527 Total expenditures paid 304,186 � EXCESS (DEFICIENCY) OF REVENUES COLLECTED OVER EXPENDITURES PAID (867� � OTHER FINANCING SOURCES: Transfers from State Aid Fund 13,000 � EXCESS OF REVENUES COLLECTED AND OTHER FINANCING SOURCES OVER EXPENDITURES PAID 12,133 � FUND BALANCE AT BEGINNING OF YEAR 137,772 � FUND BALANCE AT END OF YEAR $ 149.905 � � � � � � See accompanying notes to financial statements. �2) � CAPE GIRARDEAU PUBLIC LIBRARY Cape Girardeau, Missouri � LIBRARY CONTRIBUTION FUND � STATEMENT OF REVENUES COLLECTED, EXPENDITURES PAID, AND CHANGES IN FUND BALANCE Year Ended June 30, 1985 � � REVENUES COLLECTED: Interest received $ 1,448 � Fees and service charges 50 Total revenues collected 1,498 TOTAL EXPENDITURES PAID � EXCESS OF REVENUES COLLECTID OVER EXPENDITURES PAID 1,498 � FUND BALANCE AT BEGINNING OF YEAR 20,465 � FUND BALANCE AT END OF YEAR $ 21,963 � � � � � � � � � � See accompanying notes to financial statements. � (3) � CAPE GIRARDEAU PUBLIC LIBRARY � Cape Girardeau, Missouri LIBRARY SUPPLEMENT FUND � STATEMENT OF REVENUES COLLECTED, EXPENDITURES PAID, AND CHANGES IN FUND BALANCE � Year Ended June 30, 1985 � REVENUES COLLECTED: � Interest received $ 373 Fees and service charges 10,562 Total revenues collected 10,935 EXPENDITURES PAID: Miscellaneous charges 400 Capital outlay 8,038 � Total expenditures paid 8,438 EXCESS OF REVENUE COLLECTID OVER EXPENDITURES PAID 2,497 � FUND BALANCE AT BEGINNING OF YEAR 2,096 � FUND BALANCE AT END OF YEAR $ 4,593 � � � � � � � � � See accompanying notes to financial statements. (4) � CAPE GIRARDEAU PUBLIC LIBRARY � _ Cape Girardeau, Missouri LIBRARY BUILDING FUND � STATEMENT OF REVENUES COLLECTED, EXPENDITURES PAID, AND CHANGES IN FUND BALANCE � Year Ended June 30, 1985 � REVENUES COL LECTED: � Interest received $ 9,593 EXPENDITURES PAID: � Capital projects 84,025 EXCESS OF REVENUSE COLLECTED OVER � EXPENDITURES PAID (74,432) FUND BALANCE AT BEGINNING OF YEAR 152,344 � FUND BALANCE AT END OF YEAR $ 77.912 � � � � � � � � � � See accompanying notes to financial statements. (5) � CAPE GIRARDEAU PUBLIC LIBRARY � Cape Girardeau, Missouri STATE AID FUND � STATEMENT OF REVENUES COLLECTED, EXPENDITURES PAID, � AND CHANGES IN FUND BALANCE � Year Ended June 30, 1985 � REVENUES COLLECTED: Fees and service charges: Reimbursement of travel and meeting expenses $ 633 Reimbursement of other expenses 1,205 � Donations 400 Total fees and service charges $ 2,23g Revenues from other agencies: � State aid 12,681 Total revenues collected 14,919 � EXPENDITURES PAID: Culture and recreation: Travel 321 Dues and registration 657 � Childrens programs 7p Safe deposit box 80 Postage 40 � Miscellaneous 181 Insurance 500 Total expenditures paid 1,849 � EXCESS OF REVENUES COLLECTED OVER EXPENDITURES PAID 13,070 � OTHER FINANCING (USES) : Transfers to Library Operating Fund (13,000) � EXCESS OF REVENUES COLLECTED AND OTHER FINANCING SOURCES OVER EXPENDITURES PAID AND OTHER USES 70 � FUND BALANCE AT BEGINNING OF YEAR 935 � FUND BALANCE AT END OF YEAR $ 1,005 � � � � See accompanying notes to financial statements. (6) � CAPE GIRARDEAU PUBLIC LIBRARY � Cape Girardeau, Missouri CASH COLLECTION FUND � STATEMENT OF REVENUES COLLECTED, EXPENDITURES PAID, AND CHANGES IN FUND BALANCE � Year Ended June 30, 1985 � REVENUES COLLECTED: Fines $ 8,361 Postage reimbursement 612 � Copies and micro prints 2,g25 Lost books 1,791 Book sale 470 � Reimbursement from SEMO library network 125 Other 441 Total revenues collected 14,625 � EXPENDITURES PAID: Monies deposited in Operating Fund 14,507 � EXCESS (DEFICIENCY) OF REVENUES COLLECTED OVER EXPENDITURES PAID 118 � FUND BALANCE AT BEGINNING OF YEAR 250 � FUND BALANCE AT END OF YEAR $ 368 � � � � � � � � See accompanying notes to financial statements. (7) � CAPE GIRARDEAU PUBLIC LIBRARY � Cape Girardeau, Missouri NOTES TO FINANCIAL STATEMENTS � June 30, 1985 f' 1. Summary of Significant Accounting Policies: � All funds of the Cape Girardeau Public Library are accounted for using the cash basis of accounting. Revenues are recognized when collected rather than when they are earned, and expenditures are recongized when paid � rather than when incurred. This basis of accounting does not conform to generally accepted accounting principles. � The Library Operating Fund, the Library Contribution Fund, the Library Building Fund and Library Supplement Fund are accounted for through the City of Cape Girardeau's records and are shown there as agency funds. The � State Aid Fund and the Cash Collection Fund are not incorporated into the City's accounting system. The Library personnel maintain records on revenues collected and transfer funds to the various Library funds, which transfers are accounted for on the City's records as revenue collected. � � � � � � � � � � � (g)