Annual report of the Town of Hampton, New Hampshire

TOWN OF HAMPTON
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1991
required by law. The ultimate responsibility for the collection of taxes
rests with the Town.
Intergovernmental Receivable
The Town recognizes $75,104 as an intergovernmental receivable on the
balance sheet. This balance represents $64,289 due from the Federal
Emergency Management Agency and $10,715 from the State Office of
Emergency Management for hurricane and storm damages, and $100 due to the
Cemetery Trustees from the Internal Revenue Service for overpayment of
payroll taxes.
Interfund Receivables/Payables
Individual fund inter fund receivable and payable balances at December 31,
1991 are as follows:
Fund
Interfund
Receivable
Interfund
Payable
General Fund
Special Revenue Fund
Cemetery Trustees
Capital Projects Fund
Sewer System Improvements
Trust Funds
Nonexpendable
Capital Reserve
Totals
$355,980 $ 17,350
670
6,350 861
11,000 327,120
27,329
$373,330 $373,330
F. Mortgages Receivable $1,635,252
Mortgages receivable totaling $1,635,252 represent loans being
administered by the First National Bank of Portsmouth at December 31,
1991, in accordance with legislation enacted effective March 15, 1983,
covering the sale of former leased lands within the Town of Hampton.
This amount is shown on the balance sheet net of an allowance for
uncollected accounts in the amount of $73,190.
VOTE 4 - LIABILITIES
A. Intergovernmental Payable
The Town has recorded $4,921,153 as an intergovernmental payable, which
represents the balance of the school district assessment due to be paid
to the Hampton and Winnacunnet Cooperative School Districts during the
six-month period ending June 30, 1992, $195 of the precinct tax
assessment still due to the Hampton Beach Precinct, $624 of marriage and
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