Fiscal Year 1969 ORVIS M. KEMP
CERTIFIED PUBLIC ACCOUNTANT
6ISA UNITED STREET
KEY WEST, FLORIDA
MONROE COUNTY MEACHAM AIRPORT
KEY WEST, FLORIDA
AUDIT REPORT
SEPTEMBER 30, 1969
art MITI ISAMMM MUM
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ORVIS M. KEMP. C.P.P.
ORV1S M. KEMP
CERTIFIED PUBLIC ACCOUNTANT
AUDITS -SYSTEMS-TAXES
KEY WEST,FLORIDA
December 10, 1969
Board of County Commissioners
Monroe County
Key West, Florida
Gentlemen:
We have examined the Balance Sheet of the
Meacham Airport as of September 30, 1969 and the
related Statements of Receipts and Expenditures
for the fiscal year then ended. Our examination
was made in accordance with generally accepted
auditing procedures which we considered necessary.
In our opinion, the accompanying Balance Sheet
and Statements of Receipts and Expenditures fairly
present the financial condition of the Meacham
Airport as of September 30, 1969, and the results
of Its operations for the fiscal year then ended, in
conformity with generally accepted accounting
principles applied on a basis consistent with that
of previous years.
Respectfully submitted,
�
Orvis M. Kemp, C.P.A.
4
MONROE COUNTY MEACHAM AIRPORT
MY WEST. FLORIDA
BALANCE SHEE!
SEPTEMBER 30. 1969
ASSETS
CURRENT ASSETS
Airport Ravanue Fund $ 49,411 .84
Airport Operations and Maintenance Fund 5,990.14
Airport Development and Replacement Fund 7,986.64
Airport Interest and Sinking Fund - "Series 1955" 71,789.72
Airport Interest and Sinking Fund - "Series 1956" 1.763.75
Airport Reserve Fund - "Series 1956" 35.529.74
1 172,471 .83
FIXED ASSETS
Airport Terminal Building $ 595,880.91
Airport Runways 576,814.50
Fire Fighting Apparatus 15.211.00
1 .187.906.41
S 1.160.178 24
LIABILITIES AND SURPLUS
LIABILITIE(
Airport Revenue Bonds - "Series 1955" - 3.7% $ 220,000.00
Airport Revenue Bonds - "Series 1956" - 4.25% 83,000.00
Interest Accrued - "Series 1955" Bonds 2,713.32
Interest Accrued - "Series 1956" Bonds 1.175.84
$ 306,889.16
RESERVE FOR WEPRECIAT Ol(
Airport 6rminai Building $ 160,862.83
Airport Runways 155,737.88
Fire Fighting Apparatus 15.211.00
331,811.71
SURPLUS 721.677.37
S 1.160 378.211
OPV'S M. KEMP. C.P.A.
MONROE COUNTY MEACHAM AIRPORT
KEY NEST. FLORIDA
STATEMENT OF RECEIPTS AND EXPENDITURES
ALL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1969
RECEIPTS
Airport Operations
Airline Fees and Rentals $ 21,543.84
Parking Lot 1 ,356.46
Avis U.Drlve"it Lease 7,999.92
Concessions 25,088.68
Sale of Surplus 185.00
$ 56,173.90
Interest on Deposits 7,316.29
Miscellaneous 16.99
Federal Goverment Grant for Widening Aprons 10.664.26
Total Receipts $ 74,172.44
EXPENDITURES
Airport Operations
Salaries $ 24,268.86.
Utilities 10,121 .05
Insurance 10,069.34
Maintenance 3,459.80
Miscellaneous 4,295.73
Services - Airport Consultant 6,000.00
Professional Services on Airport
Improvements 3.000.00
$ 61 ,214.78
Interest Paid
Series 1955 Revenue Bonds $ 8.991 .00
Series 1956 Revenue Bonds 3.825.0Q
12,816.00
Revenue Bonds Redeemed
Series 1955 $ 23,000.00
Series 1956 7.000.0Q
30.000.0Q
Total Expenditures 104.030.78
IZ6E$S OF EXPENDITURES OVER REVENUES FOR THE YEAR $ (29,858.34)
TRAMIVERM FROM RACE TRACK FUNDS 26.750.00
NET DECREASE IN FUNDS FOR THE FISCAL YEAR S 43 108.310
ORVIS M. KEMP.C.P.A.
MONROE COUNTY MEACMAM_AIRPDRT
KEY WEST. FLORIDA
ANALYSIS OF RECEIPTS MD DISBURSEMENTS
$ACH M AIRPORT REVENUE FUND
OCTOBER 1. 1968 TO SEPFENBER 30. 1969
BALANCE IN FUND OCTOBER 1. 1968 $ 63,827.70
RECEIPTS
Intelsat on Time Deposit $ 1,000,00
Airline Fees and Rentals 21,543.84
Parking Lot Receipts 1,356.46
Avis U-Drive-It Lease 7,999.92
Concessions C. Leases 25,088.68
Miscellaneous 16.99
Race Track Funds 15,500,00
Extra Distribution 11.250.00
83.755.89
$ 147,583.59
DISBURSEMENTS
Transfers to Operations and Maintenance Funds $ 60,000,00
Transfers to Interest and Sinking Fund -
"Series 1955" 27.495.50
Transfers to Interest and Sinking Fund -
"Series 1956" 10.676.21
98.171.7ry
BALANCE IN FUND SEPTEMBER 30. 1961 S 49.411 .84
BALANCE IN FUND HELD AS FOLLOWS:
Cash in Key West State Dank $ 29,411 .84
Time Deposit at Florida First Nat'l. Bank 20.000.00
S 49.411 .84
ORVIS M. KEMP.C.P.A.
1
MONROE COUNTY MEACHAM AIRPORT
KEY WEST. FLORIDA
ANALYSIS OF RECEIPTS MO DISBURSEMENTS
OPERATION AND MAINTENANCE FUND
OCTOBER 1. 1968 TO SEPTEMBER 30. 1969
BALANCE . IN FUND OCTOBER 1. 1968 $ 4,204.92
RECEIPTS
Transfers from Airport Revenue Fund 60.000.00
$ 64,204.92
DISBURSEMENTS
Salaries $ 24,268.86
Utilities 10,121.05
Insurance S Bonds 10,069.34
!v!..._.._._ t - Building 2,655.66
Equipment 708.42
Grounds 95.72
Services - Airport Consultant 6,000.00
Travel and Auto Allowance 717.45
Communication Costs 118,83
Audit 400.00
Office Supplies and Expanses 202.39
Other Supplies (Medical) 114.95
Gasoline, Lubricants, etc. 44.44
Rentals 561.05
Contracted Services 295.98
Paying Agents Fee 157.65
Purchase of Equipment 746,66
Matching Funds 909.68
Clothing 26.6S
58.214.78
BALANCE IN FUND SEPTEMBER 30. 196R S 9.990.14
ORVIS M. KEMP.C.P.A.
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s.l• N smr►lms ►ra►•rsr $ 185.00
IM.r.I sw•rn..nt grant For Widening Aprons 10.665.24
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$ 10.986.64
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Transfers from Airport Menus Fun $ 17.40$.5e
latest S. iawst..nta Si
$ 1al.7ile.71
S
i.Nrat amid an Mods $ $,001.00
ONa►tia of lads Outstanding tf.0a K
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aims IN P SE 1110 AS VSOINS I
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ILLS. TMAf1EY 11j
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$11,000.00 Oa 11/1e/60 Cat —ALUM
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u*usa ti !MD MOOD I. 1968 $ 1412.50
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Transfers from Airport Revisal fund 10.676.11
$ 12.588.75
suassasar<.T0
Intorno% Paid en beds $ 3,815.00
andssptten of Gads Outstanding 7.000.ea
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miastr Ia f&PTtalle tg_ Mt t 1.761 74
OPVIS M. KEMP. C.P.A.
mieN COUNTY NIACNAN RIRPSRt
SLIMIAINWA
AN eu OF OSCEU!T$ AND oginglima
Ara ss1! wen mw! - Rums t446d'
SOTOUR I. 146e TO ss►1USA IO_ I%
isms IA ours ems 1. tube f 33.137.17
MIMS
Interest ss Investsests 1.721.47
$ 35.549.74
.e.
MUM IN /W! same 30. I4U L5.5l4.74
slimes IN FUN! ►!ls As moat
Cosh $ S93.S1
Securities 14.4tb.41
= tom
06
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Sus 11/2e/69 Cott 1 97. 0$083 a LM&
•
ORVIS M. KEMP. C.P.A.
MONROE COUNTY MEACHAM AIR►ORT
KEY WEST. FLORIDA
FUNDED DEBT
SEPTEMBER 30. 1962
AERPO4T REVENUE BONDS - 'SERIES 1955"
INTEREST RATE 3.70%
MATURITY DATE AMOUNT
April 1, 1970 $ 24,000.00
1971 25,000.00
1972 26,000.00
1973 27,000.00
1974 28,000.00
1975 29,000.00
1976 30,000.00
1977 31_000.OQ
TOTAL S 220.000.OQ
AIRPORT REVENUE BONDS - 'SERIES 1956"
INTEREST RAT! 4.25%
MATURITY DATE
Jun. 1, 1970 $ 7,000.00
1971 8,000.00
1972 8,000.00
1973 9,000.00
1974 9,000.00
1975 10,000.00
1976 10,000.00
1977 11,000.00
1978 11 .000.00
TOTAL S 51.000.OQ
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