Annual report of the Town of Hampton, New Hampshire

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TOWN OF HAMPTON NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1991 The budget is used by the Department of Revenue Administration each fall to set the tax rate for the municipality. Management may transfer appropriations between operating categories as they deem necessary. All annual appropriations lapse at year-end unless encumbered. Expenditures may not legally exceed budgeted appropriations in total. State Statutes require balanced budgets, but provide for the use of beginning General Fund unreserved fund balance to achieve that end. In 1991, the beginning General Fund balance was applied as follows: Beginning Fund Balance - Reserved for Encumbrances $110,620 Encumbrances Encumbrance accounting, under which purchase orders, contracts, and continuing appropriations (certain projects and specific items not fully expended at year end) are recognized, is employed in the governmental funds. Encumbrances are not the equivalent of expenditures and are therefore reported as part of the fund balance at December 31 and are carried forward to supplement appropriations of the subsequent year. Assets, Liabilities and Fund Equity 1. Cash and Equivalents State Statutes authorize the Town to invest excess funds in the custody of the Treasurer in obligations of the United States Government, in savings bank deposits of banks incorporated under the laws of the State of New Hampshire, in certificates of deposit of banks incorporated under the laws of the State of New Hampshire, or in national banks located within this State or the State of Massachusetts. These financial statements report investments in certificates of deposit and savings bank deposits under the caption Cash and Equivalents. 2. Investments Investments are stated at cost or, in the case of donated investments, at the market value on the date of bequest or receipt. 3. Receivables Revenues for the most part are recorded when received, except for the following items for which receivables have been recorded: a. Tax revenue is recorded when a warrant for collection is committed to the Tax Collector. However, any taxes involved in bankruptcy proceedings or for which abatements are expected to be granted have been reserved. 126 - 13 -
TOWN OF HAMPTON NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 1991 The National Council on Governmental Accounting, Interpretation 3, referring to property tax revenue recognition, requires disclosure if property taxes receivable, which are to be collected beyond a period of 60 days subsequent to year's end, are recognized on the balance sheet and not reserved. In accordance with the practice followed by other municipal entities in the State of New Hampshire, the Town of Hampton annually recognizes all taxes receivable at the end of the fiscal year unless reserved as explained above. The Town believes that the application of NCGA Interpretation 3, which would result in a^ decrease in the undesignated General Fund unreserved fund balance, would give a misleading impression of the Town's ability to meet its current and future obligations. On December 7, 1984, the Governmental Accounting Standards Board (GASB) , in response to a related inquiry, gave justification for this deviation from the generally accepted 60-day rule on revenue recognition, concluding that the circumstances relating to the payment of school tax liabilities in New Hampshire were unusual and therefore justified a period of greater than sixty days. This practice is consistent with the previous year. As prescribed by law, the Tax Collector places a lien on properties for all uncollected property taxes in the following year after taxes are due. The lien on these properties has priority over other liens and accrues interest at 18% per annum. If property is not redeemed within the two-year redemption period, the property is tax-deeded to the Town. A receivable for such liens is recognized with a reserve representing those involved in bankruptcy proceedings. b. Interest on investments is recorded as revenue in the year earned. c. Certain grants received from other governments require that eligible expenditures be made in order to earn the grant. Revenue for these grants is recorded for the period in which eligible expenditures are made. d. Various service charges (ambulance, police, sludge, etc.) are recorded as revenue for the period when service was provided. The receivables for such services are shown on the balance sheet net of an allowance for estimated uncollectibles. 127 - 14 -
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il n 5 i I - fi ^ /v- :/~r—J». J
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Town of Hampton 354th Annual Report
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The 1991 Hampton Annual Report is d
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TABLE OF CONTENTS Officials.......
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HAMPTON TOWN OFFICERS/1991 Moderato
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Alternates: David A. Weber 1992 She
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Town Bookkeeper Jan C. LaPlante Tow
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ARTICLE 2: Are you in favor of the
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"Bed and Breakfast: A dwelling in w
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To see if the Town will vote to ame
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ARTICLE 25: Are you in favor of the
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ment of a Fire Department sedan; to
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Ouellette. The motion for reconside
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Nutrition Program's meals services
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as may be available for the constru
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paragraph to begin "To see if the T
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C. In any year that the full amount
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APPENDIX We, the undersigned legal
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BOARD OF SELECTMEN ANNUAL REPORT As
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After the Special Town meeting in O
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damage to homes from NorEast Lane t
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needed during the peak hours of bot
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Motor Cycle Violations 22 One Way V
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Hospital Matters-Sick/Injured Trans
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REPORT OF THE FIRE DEPARTMENT 41 Fu
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ANNUAL REPORT DEPARTMENT OF PUBLIC
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HamDton Recreation "gpFarks The Ham
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1991 CEMETERY TRUSTEES ANNUAL REPOR
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1991 ASSESSOR'S ANNUAL REPORT First
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shows that of the total increase (2
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TAX COLLECTOR'S REPORT In 1991 this
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Summary of Tax Sales/Tax Lien Accou
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Christening September 28, 1991 SSN
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TRUSTEES OF THE TRUST FUNDS A total
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1 CO! CM COi 0CT. VO t— lf\t— o
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ANNUAL REPORT BUILDING INSPECTION D
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HAMPTON PLANNING BOARD In 1 991 the
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HAMPTON CONSERVATION COMMISSION ANN
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HAMPTON HIGHWAY SAFETY COMMITTEE AN
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: AMERICAN LEGION HAMPTON POST 35 T
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CHILDREN BORN TO HAMPTON RESIDENTS
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Caela Lyn Franklin 09-27-91 Mary Au
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Richard N. DeCost Henrietta Ann Dau
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Theodore P. Vassallo, Jr Janet Eliz
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James J. Dunlap Janet Starr Todd Ke
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DEATHS OF HAMPTON RESIDENTS - 1991
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1992 WARRANT AND BUDGET TOWN OF HAM
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" TOWN OF HAMPTON STATE OF NEW HAMP
Page 97 and 98: ARTICLE 8 To see if the Town will v
Page 99 and 100: ARTICLE 21 To see if the Town will
Page 101 and 102: Amend by adding after "Sec. 2:104 P
Page 103 and 104: ARTICLE 37 To see if the Town of Ha
Page 105 and 106: . Mechanical Protection Device: An
Page 107 and 108: ARTICLE 47 To transact any other bu
Page 109 and 110: nnn 4 8nn Acct. No. PURPOSES OF APP
Page 111 and 112: Acct. No. TAXES 3120 Land Use Chang
Page 113 and 114: HAMPTON BEACH VILLAGE DISTRICT HAMP
Page 115 and 116: Bigelow & Company Certified Public
Page 117 and 118: Bigelow & Company Certified Public
Page 119 and 120: HAMPTON BEACH VILLAGE DISTRICT COMB
Page 121 and 122: HAMPTON BEACH VIUAGE DISTRICT DESIG
Page 123 and 124: HAMPTON BEACH VILLAGE DISTRICT SUPP
Page 125 and 126: HAMPTON BEACH VILLAGE DISTRICT NOTE
Page 127 and 128: SCHEDULE OF TOWN BUILDINGS Municipa
Page 129 and 130: TOWN OF HAMPTON TABLE OF CONTENTS D
Page 131 and 132: PXocLzi Jc & Sanderson I*irof:ess±
Page 133 and 134: GENERAL PURPOSE FINANCIAL STATEMENT
Page 135 and 136: A (1) Fiduciary Account Totals Fund
Page 137 and 138: A (2) Fiduciary Fund Types Trust an
Page 139 and 140: Fiduciary Fund Type Expendable Trus
Page 141 and 142: Special Revenue Funds Variance Favo
Page 143 and 144: EXHIBIT E TOWN OF HAMPTON Statement
Page 145 and 146: TOWN OF HAMPTON NOTES TO THE FINANC
Page 147: TOWN OF HAMPTON NOTES TO THE FINANC
Page 155 and 156: TOUN OF HAMPTON NOTES TO THE FINANC
Page 161 and 162: COMBINING AND INDIVIDUAL FUND FINAN
Page 163 and 164: EXHIBIT A-l (Continued) TOWN OF HAM
Page 165 and 166: A-2 (1) (Over) Expenditures Encumbe
Page 167 and 168: A-2 (2) (Over) Expenditures Encumbe
Page 169 and 170: THIS PAGE LEFT BLANK INTENTIONALLY
Page 171 and 172: B-l 350th Anniversary Committee Nee
Page 173 and 174: B-2 350th Anniversary Committee Nee
Page 175 and 176: EXHIBIT B-4 TOWN OF HAMPTON Special
Page 181 and 182: EXHIBIT B-10 TOM OF HAMPTON Special
Page 183 and 184: C-l Totals Agency December 31, Dece
Page 185 and 186: SINGLE AUDIT ACT INDEPENDENT AUDITO
Page 187 and 188: Town of Hampton Single Audit Combin
Page 189 and 190: Plodzik & Sanderson Professional As
Page 191 and 192: ?lodzik & Sanderson Professioanal A
Page 193 and 194: ed (Deferred) Expenditures Accrued
Page 195 and 196: SCHEDULE 1 TOWN OF HAMPTON Statemen
Page 197 and 198: Income Balance of Balance Balance P
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Plodzik & Sanderson Professional As
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TOWN OF HAMPTON NEW HAMPSHIRE \ COM
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RESIDENTIAL RUBBISH COLLECTION SCHE
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Annual report of the Town of Hampton, New Hampshire

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