Audit reports

AUDIT REPOOT

(f

GR ou

DWA TER APPROPRIATOR

Is

OF THE SOUTH PLA TIE R I VER BAS IN, INC

I

FoRT MoRGAN, CoLORADO

Fffi THE

FISCAL YEAR ENDED

OCTOBER 31, 1982

MARK A. ACHZIGER

CERTIFIED PUBLIC ACCOUNTANT

FOOT MOOGAN, CQORADO

G

I

A

t

s

.P

I ,

INC

t

ACCOUNT ANT /

,.

S

OPINION

YEAR ENDED

OCTOBER 31, 1982

I

HAVE EXAMINED THE BALANCE SHEET AND SCHEDULE OF

INVESTMENTS OF

G.A.S.P.,

INC.

AS OF OcTOBER

31, 1982

AND THE R ATED STATEMENTS OF REVENUE AND OPERATING EXPENSES, FOR THE YEAR THEN ENDED.

MY

EXAMINATION WAS MADE IN ACCO DANCE WITH

GENERALLY ACCEPTED AUDI ING STANDARDS AND ACCORDINGLY

INCLUDED SUCH TESTS OF HE ACCOUNTING RECORDS AND SUCH OTHER AUDITING PROCEDURES AS

l

CONSIDE ED NECESSARY UNDER THE CIRCUMSTANCES,

IN MY OPINION, THE ACCOMPANYING FINANCIAL STAT8~ENTS PRESE T FAIRLY THE FINANCIAL POSITION OF THE CO'ttPANY AS 0 0CTOB R

31,

1982

AND THE RESULTS OF IT'S OPERATION FOR THE YEAR THE ENDED,

IN CONFORMITY WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES APPLIED ON A CONSISTENT BASIS.

NovEMBER

9, 1982

G.A.S.P.,

INC.

INCOME AND EXPENSE STATEMENT

FOR TH YEAR ENDED OCTOBER 31,

1982

INCOME. TER CoNTRAcTs

I

TEREST INCOME MISCELLANEOUS INCOME TOTA INCOME EXPE

s s:

ATER RENTED ENERGY

p

CHASED

OFFICE

s

ARIES EXPENSE

PRO ESSIO AL SERVICES

I

T REST

EXP

NSE

0

FIC EXPENSE

WELL MAINTENANCE ExPENSE RETIREMENT (ONTRJBUTIO TRAVEL EXPENSES

OF

ICE RENT EXPENSE

I

SURANCE ExPENSE

Co

T ACT LABOR ExPENSE

p

YRO L TAXES EXPENSE

ME

I G EXPE SES

TE

EPHON

&

UTILITIES EXPENS AnvERTISI G

ExP

SE DITCH ASSESSMENTS

Mrsc

LLANEous EXPENSE $

326,665.00

22,599.50

2,892.02

$

136,754.33

30,409.39

.

33,233.45

2,058.70

11,875.27

8,107.13

v

2,736.16

3,000.00

v

2,876.00

v'

3,600.00

v

--1

0,026.80

1,806.60

2,222.70

2,489.36

1,189.68

592.60

1,124.20

140.98

$

352,156

'52

EXPENSES:

G

I

A

I

s

I p I I

INC •

INC

AND EXPENSE STATEMENT

FOR THE YEAR ENDED OCTOBER 31, 1982

(CONTINUED)

DEPRECIATION EXPENS TOTAL ExPENSES

ExcEss oF

REVENUE

OvER ExPENSES

$

11,338.61

265,581.

Cu

R NT AssETs: (ASH

INTEREST RECEIVABLE

I

VESTMEN s

1or

CuRRENT AssETS

IXED

Ass rs:

OFFICE FuRNITURE

&

EQUIPMENT SS

Ace

U ATED DEPRECIATION STERLI G WELL

A

L

ss:

AccUMu

ATED DEPRECIATION

Sr

RLING WELL

B

LEss

AccUM

ATED DEPRECIATION

OviD WELLS

LEss: AccUMULATED DEPRECIATION SE GWICK WELLS

ESS AccUMU ATED DEPRECIATION

B

LINGTON-WELLINGTON HEADGATE

p

OJ CT

INVEST NT IN BuRLINGTO

&

WELL! GTON

W

TER STOCK CSU COMPUTER OD L

s

ARROYO

R

SERVOIR

ToTAL FIXED

Ass

TS

or

AssETS

G,A.S.P.,

INC.

BALANCE SHEET

OCTOBER 31,

1982

ASSETS $

29,341.58

6,031.49

$

35,444.58

ll,633.31

$

48,458.10

11,306.89

$

73,356.74

12,592.81

$

64,043.83

2,134.79

$

18,559.57

1,237.30

$

},962.13

4,212.07

I

160,550.48

$

23,310.09

$

23,811.27

$

37,151.21

$

60,763.93

$

61,909.04

$

17,322.27

$226 ,725. 00

30,286.00

$

6,634.00

$

166,724.68

$

487,912.81

$

654,637.49

BALANCE SHEET

(CONTINUED)

LIABILITIES

&

RETAINED REVENUE

LIABILITIES:

CURRENT LIABILITI S

CuRRENT PoRTION oF ONG

T

RM NoTE PAYAB, E ToTAL CuRRENT LIABILITIES

LONG TERM LIABILITIES

NoTE PAY ABLE TOTAL LONG TERM LIABILITIES TOTAL LIABILITIES

RETAINED

R

VENUE BALANCE

il-1-8

1981 Exc ss

OF REvENUE ovER EXPENSES

CSU

CoMPUTER MoDEL REcLASSI rcATION BALANCE

10 31-82

TOTAL LIABILITIES

&

RETAINED REVENUE

$

66,750.00

$482,939.39

86,574 56

$

18,373.54

66,750.00

66,750.00

587,887 49

654.637.49

G

I

A

I s I

p

I I

INC

SCHEDLlE

a=

INVESTMENTS

OCTOBER 31, 1982

S

VINGS

AccouNTs:

FIRST STATE BANK OF WIGGINS

FIRST ATIO AL BANK oF

Fr.

MoRGAN

TOTAL SAVINGS

(ER IFICATES OF DEPOSITS:

FIRST ATION BANK oF

Fr.

MoRGAN FIRST STA E BANK OF WIGGINS

KERS y STAT BANK OF KERSEY

OT

c.

D

TOTAL

I

NVESTME TS $.

29.88

520160

$

30,000.00

30,000.00

100.000.00

$

550.48

$160.000100

$160,550.48

O

F

FOr THE

F I

SCf;.L

YEAR E

~Dt:D

OCTODE? 31, 1981

f1ARK

I

AC

~

I R

ERT 1 F I ED PUBLIC /\CCOUf

TAf~T

G.

I I

P....

f' I

INC 1E

ANn

EXPE SE ST

.

ME

T

FOR THE YEAR ENDED OCTOBER 31#

1981

INCOME: HAT R CONTRACTS INTE EST INCOME M1SCELLANEous IrcoM TOTAL INCOME EXPENSES: \4ATER RENTED ENERGY PURCHA D OFFICE

S

ARIEs ExPENsE

p

OFESSIONAL SERVICES

I NT REST EXPEI~SE

0

FICE [XPENS

\~EL MAINTENANCE

EXP

NSE

R

TIREMENT CONTRIBUTION TRAVE

EXP

NS s

0

FICE RENT ExPENsE

INSURANCE

ExP

NSE

CoNTRACT

LABoR ExP

NSE PAYROLL TAx s EXPENSE

M

lNG EXPENSES

TELEPHONE

&

UTILITIES EXPENS P~VERT1SING XPENSE

DITCH AssEssME.NTs MiscEL AN ous

ExP

NSE

$

279,870.00

26,738.05

1,666.13

101,778.68

36,803.95

31,252 .LJS

11,805.33

11,225.34

5,384 6

3,012.94

3,000.00

2,701.20

2,500 00

2,~29.89

2,334 55

2,064.23

1,851.92

l

,557

32

810.31

738.00

275,83

$

308,2711 8

EXPE s s:

EPP.ECIATIO EXPEfSE

OTAL ExPEr SEs

I /1, t I I I

1

r

CCJ1E

AND EXPEN

STATE

·

NT

FOR THE YEAR E DED

OCTOBER

31, 1981

((orTINUED)

$

5,551.56

ExcEss OF REVEi ·uE OVER ExPEr sEs

$

227,079.15

G

f, .

S.

P

.

I,C

,

BALANCE SHE

E

T

OCTOB,_R 31,

198~

CURRENT 11.SSETS: CASH

INT REST

REc

IVABLE

1NV STMENTS

Tor

Cu

RENT

AssETs

FIXED AssETs:

ASSETS

DFFic FuRNITURE $ ~,806.91

L

ss:

AccUMULATED DEPRECIATION 3,306,85

STERLING WELL

A

_$

_{35,444 8}

LEss:

Ace

M LATEn DEPRECIATION

9,451.92

Sr

RLI NG

\I

LL

B

$

48,ll58.10

LEss AccuMULATED DEPRECIATION

9,691.62

OviD ~~ LLS $ 73,3 74

LEss:

AccUMULATED

D

PR CJATlON

0,147.59

S

DGWICK HELLS _$

_64,043.83

LEss

AccuMULAT D DEPRECIATION

-0-

·

BURLINGTON-WELLINGTON H ADGAT

,Q CT

17,839

57

LEss: Ace 1ULAT D

D

P ECIATION

-0-lNv

STM NT IN BURLINGTON

&

\~ LLINGTON WAT R

STOCK

lNV STMENT IN

B

R INGTON

&

WELLINGTON

WA

R

SrocK

SAN

AR

avo R SERVOI

ToTAL

IX

n AssETs

Tor

Ass

rs

$ ~~13

.1

8

,Ltq7.7

8

l65,

l

49.G

8

1,50

0 6

25,992.6

5

38,766 48

63,

2

09.1

64,043.83

39,22 .00

187,500.00

6,634.00

171,728.64

444,710 75

$

616,4 9.39

liABILITIES:

( EfT LIABILITIES

BAL 1_{C SHEET}

(CONTINUED)

LIABILITIES

&

RETAINED REVENU

CuRRENT PoRTlO oF LoNG TERM

NoTE

PAYABLE $

66

,7

50

.

00

TOTA (URRE T LIABI ITIES $

66

,7

50

.

00

Lor G TERM LIABILITIES

f OTE PAYABLE

T

o

r

LoNG TE M LIABILITIES

TOTAL

LJ

ILITIES

RETAifED EVE UE

B

ArJcE

1 -80

1981

ExcEss

oF

REvE UE

ovER

ExPENSES

BALA CE

10-3 -81

T

o

r

LIABILITIEs

&

RETAI ED REvEruE

$

66,750

.

00

$401,744,36

81

,

195

,

03

$

66

,

750

,

00

133,500.00

$

482

,

939

.

39

$

616

,4

39

.

39

I

G.A.S.Pu

lf,(

CHEDULE OF I

I~VESTME,~TS

·

cTOBER :Jl, 1981

SAV 1 NGS { CCOUi~TS: F 1 RST ST<\TE

B:

r K OF

HI

GGH1_S F 1 PST r AT l ONA

B

Nl< OF FT r1orGAi TOTAL SAVIf GS ( .PTIFlCAT S OF DEPOSITS:

Fif

sr

'l Tior~

L

B,

1w

oF

Fr.

1oFG/\,'

FJP.""T STATE D/\NI' OF r1IGGH S KERS -y ~T.'\TE BAI·~K CF ERSEY

TOTAL I D TOTAL J NV-STftE1 TS

lO,OOJ.OJ

10,000

..

00

1}0,000.00

1~0,000.00

165,149.68

G.A.S.P ., IfJC.

ACCOlliTA~ T'S OPINIO~

YEAR E ~DED OCTOBE0 _{31, 1981}

HAVE EXAJ·1I r ED TH B LANCE SHEET Af~D SCHEDULE OF

HVEST1Er~rs oF

G A.S.P., Ir

c. AS OF OcTOBER

31, 1981

AHD THE

REL~TED STATEJ\ENTS OF r\.EVEr UE AfJD GPERATI r G EXPEIJS S, FOr. THE YEAI1

THEf Er DED MY EX ·1If~ATI0f' WAS fv1ADE IN ACCORD. NCE WITH

GE R. LV ACCEPTED AUDITIJ~G STAf~DAP.DS f'D ACCORD I ~~GLY

I I CLLJDED SUCH T STS OF THE ACCOUIIT Jr~G RECOKDS AND SUCH OTHE1

l\ DITHJG PROCED RES 6.5

J

CDr·JSIDERED NECESSARY UNDER THE CIRC -1STAIC S.

Jr f1Y OPINIOI , THE ACCOi1PAfNING FJN.\NCIAL STATE:1Ef TS PRESENT

FA 1 RL Y THE F Jr Ai 4C I AL POSIT I 0~~ OF THE CG:1P ANY AS CJ- 0CTOBEF. )l,

1981

AID THE RESULTS OF ITS GPERATIDr~ FOR THE YCAR THEN ENDED,

II' CONFOPJ1ITY \ilTH GEf~ER LV ACCEPTED ACCOUNT! G PI1INCIPLES

APPL J o or~ A cor s I STEI~T BAS Is •

. OVEHBER

l

I

1981

vvtJG.~