Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Statement of Net Position
| 05/31/2024 | 05/31/2023 | 05/31/2022 | |
|---|---|---|---|
| Assets and Deferred Outflows | |||
| Assets | |||
| Current Assets | |||
| Cash and Cash Equivalents | |||
| 200 - Cash | $433,048.18 | $323,405.45 | $200,977.20 |
| Total for Cash and Cash Equivalents | $433,048.18 | $323,405.45 | $200,977.20 |
| Restricted Cash and Cash Equivalents | |||
| 230 - Cash Special Reserves | $161,739.60 | $152,558.24 | $151,762.80 |
| Total for Restricted Cash and Cash Equivalents | $161,739.60 | $152,558.24 | $151,762.80 |
| Net Other Receivables | |||
| 380 - Accounts Receivable | $200,333.29 | $98,353.22 | $96,727.40 |
| Total for Net Other Receivables | $200,333.29 | $98,353.22 | $96,727.40 |
| Due From | |||
| 391 - Due From Other Funds | $91,760.65 | $71,772.29 | $47,393.66 |
| Total for Due From | $91,760.65 | $71,772.29 | $47,393.66 |
| Total for Current Assets | $886,881.72 | $646,089.20 | $496,861.06 |
| Non-Current Assets | |||
| Non-Depreciable Capital Assets |
OSC Municipality Code 130470304160
30
Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Statement of Net Position
| 05/31/2024 | 05/31/2023 | 05/31/2022 | |
|---|---|---|---|
| 105 - Construction Work In Progress | - | $3,950,203.00 | $3,950,203.00 |
| Total for Non-Depreciable Capital Assets | $0.00 | $3,950,203.00 | $3,950,203.00 |
| Depreciable Capital Assets | |||
| 104 - Machinery and Equipment | $15,498.00 | $4,801,285.00 | $16,748.00 |
| 106 - Infrastructure | $8,436,943.00 | $15,498.00 | $5,114,580.00 |
| Total for Depreciable Capital Assets | $8,452,441.00 | $4,816,783.00 | $5,131,328.00 |
| Total for Non-Current Assets | $8,452,441.00 | $8,766,986.00 | $9,081,531.00 |
| Total for Assets | $9,339,322.72 | $9,413,075.20 | $9,578,392.06 |
| Deferred Outflows | |||
| Deferred Outflows of Resources | |||
| 496 - Deferred Outflow of Resources Pensions | $193,831.00 | $193,831.00 | $7,848.00 |
| Total for Deferred Outflows of Resources | $193,831.00 | $193,831.00 | $7,848.00 |
| Total for Deferred Outflows | $193,831.00 | $193,831.00 | $7,848.00 |
| Total for Assets and Deferred Outflows | $9,533,153.72 | $9,606,906.20 | $9,586,240.06 |
OSC Municipality Code 130470304160
31
Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Statement of Net Position
| 05/31/2024 | 05/31/2023 | 05/31/2022 | |
|---|---|---|---|
| Liabilities, Deferred Inflows and Net Position | |||
| Liabilities | |||
| Current Liabilities | |||
| Payables | |||
| 600 - Accounts Payable | $28,426.75 | $46,994.58 | $18,719.20 |
| 601 - Accrued Liabilities | $1,723.35 | $576.67 | $259.78 |
| Total for Payables | $30,150.10 | $47,571.25 | $18,978.98 |
| Due to | |||
| 630 - Due To Other Funds | $280,965.82 | $162,617.69 | $144,700.00 |
| Total for Due to | $280,965.82 | $162,617.69 | $144,700.00 |
| Total for Current Liabilities | $311,115.92 | $210,188.94 | $163,678.98 |
| Long-Term Obligations | |||
| Other Long-Term Obligations | |||
| 638 - Net Pension Liability Proportionate Share | $193,831.00 | $193,831.00 | $2,944.00 |
| 683 - Other Post Employment Benefits | $42,231.00 | $42,231.00 | $42,231.00 |
| Total for Other Long-Term Obligations | $236,062.00 | $236,062.00 | $45,175.00 |
| Debt Obligations | |||
| 628 - Bonds Payable | $2,346,000.00 | $2,396,000.00 | $2,442,000.00 |
| Total for Debt Obligations | $2,346,000.00 | $2,396,000.00 | $2,442,000.00 |
OSC Municipality Code 130470304160
32
Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Statement of Net Position
| 05/31/2024 | 05/31/2023 | 05/31/2022 | |
|---|---|---|---|
| Total for Long-Term Obligations | $2,582,062.00 | $2,632,062.00 | $2,487,175.00 |
| Total for Liabilities | $2,893,177.92 | $2,842,250.94 | $2,650,853.98 |
| Deferred Inflows | |||
| Deferred Inflows of Resources | |||
| 697 - Deferred Inflow of Resources Pensions | $4,726.00 | $4,726.00 | $9,630.00 |
| Total for Deferred Inflows of Resources | $4,726.00 | $4,726.00 | $9,630.00 |
| Total for Deferred Inflows | $4,726.00 | $4,726.00 | $9,630.00 |
| Net Position | |||
| Restricted Net Position | |||
| 920 - Net Assets Invested in Capital Assets Net of Related Debt | $6,106,441.00 | $6,370,986.00 | $6,639,642.67 |
| 921 - Net Assets Restricted for Capital Projects | $161,739.60 | $152,558.24 | $151,731.58 |
| Total for Restricted Net Position | $6,268,180.60 | $6,523,544.24 | $6,791,374.25 |
| Unrestricted Net Position | |||
| 924 - Net Assets Unrestricted Deficit | $367,069.20 | $236,382.02 | $134,381.83 |
| Total for Unrestricted Net Position | $367,069.20 | $236,382.02 | $134,381.83 |
| Total for Net Position | $6,635,249.80 | $6,759,926.26 | $6,925,756.08 |
| Total for Liabilities, Deferred Inflows and Net Position | $9,533,153.72 | $9,606,903.20 | $9,586,240.06 |
OSC Municipality Code 130470304160
33
Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Results of Operations
| 05/31/2024 | 05/31/2023 | 05/31/2022 | |
|---|---|---|---|
| Revenues and Other Sources | |||
| Revenues | |||
| Departmental Income | |||
| 2140 - Metered Water Sales | $676,262.92 | $574,205.80 | $550,563.19 |
| 2142 - Unmetered Water Sales | $2,202.75 | $1,945.65 | $1,600.00 |
| 2144 - Water Service Charges | $18,200.00 | $5,000.00 | $2,500.00 |
| 2148 - Interest and Penalties on Water Rents | $6,537.59 | $5,960.71 | $2,249.60 |
| Total for Departmental Income | $703,203.26 | $587,112.16 | $556,912.79 |
| Use of Money and Property | |||
| 2401 - Interest and Earnings | $10,695.11 | $1,478.33 | $48.09 |
| 2410 - Rental of Real Property | $544.49 | - | - |
| Total for Use of Money and Property | $11,239.60 | $1,478.33 | $48.09 |
| Sales of Property and Compensation for Loss | |||
| 2690 - Other Compensation For Loss | $1,247.68 | - | - |
| Total for Sales of Property and Compensation for Loss | $1,247.68 | $0.00 | $0.00 |
| Other Revenues | |||
| 2706 - Grants From Local Governments | $174,401.31 | - | - |
| Total for Other Revenues | $174,401.31 | $0.00 | $0.00 |
| Federal Aid | |||
| 4989 - Federal Aid Other Home and Community Services | - | $23,053.00 | - |
OSC Municipality Code 130470304160
34
Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Results of Operations
| 05/31/2024 | 05/31/2023 | 05/31/2022 | |
|---|---|---|---|
| Total for Federal Aid | $0.00 | $23,053.00 | $0.00 |
| Total for Revenues | $890,091.85 | $611,643.49 | $556,960.88 |
| Total for Revenues and Other Sources | $890,091.85 | $611,643.49 | $556,960.88 |
OSC Municipality Code 130470304160
35
Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Results of Operations
| 05/31/2024 | 05/31/2023 | 05/31/2022 | |
|---|---|---|---|
| Expenditures and Other Uses | |||
| Expenditures | |||
| General Government Support | |||
| Special Items | |||
| 19104 - Unallocated Insurance - Contractual | $29,500.00 | $26,500.00 | $25,500.00 |
| 19894 - General Government Support, Other - Contractual | $41,070.80 | - | - |
| admin | |||
| 19944 - Depreciation - Contractual | $314,545.00 | $314,545.00 | $313,305.00 |
| Total for Special Items | $385,115.80 | $341,045.00 | $338,805.00 |
| Total for General Government Support | $385,115.80 | $341,045.00 | $338,805.00 |
| Home and Community Services | |||
| Water | |||
| 83101 - Water Administration - Personal Services | $72,723.03 | $51,475.70 | $53,388.35 |
| 83104 - Water Administration - Contractual | $38,947.10 | $34,543.89 | $32,563.31 |
| 83108 - Water Administration - Employee Benefits | $83,515.93 | $57,847.56 | $56,078.76 |
| 83204 - Water Source of Supply, Power and Pumping - | $162,460.08 | $124,958.82 | $134,657.75 |
| Contractual | |||
| 83304 - Water Purification - Contractual | $15,963.98 | $43,580.45 | $21,698.00 |
| 83404 - Water Transportation and Distribution - Contractual | $174,401.31 | $14,560.00 | - |
| Total for Water | $548,011.43 | $326,966.42 | $298,386.17 |
| Total for Home and Community Services | $548,011.43 | $326,966.42 | $298,386.17 |
OSC Municipality Code 130470304160
36
Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Results of Operations
| 05/31/2024 | 05/31/2023 | 05/31/2022 | |
|---|---|---|---|
| Debt Service | |||
| Debt Service | |||
| 97107 - Serial Bonds - Debt Interest | $61,511.30 | $64,949.53 | $65,836.23 |
| Total for Debt Service | $61,511.30 | $64,949.53 | $65,836.23 |
| Total for Debt Service | $61,511.30 | $64,949.53 | $65,836.23 |
| Total for Expenditures | $994,638.53 | $732,960.95 | $703,027.40 |
| Other Uses | |||
| Interfund Transfers | |||
| Interfund Transfers | |||
| 99019 - Transfers to Other Funds - Interfund Transfer | $25,000.00 | $44,468.45 | $88,000.00 |
| water for Admin | |||
| Total for Interfund Transfers | $25,000.00 | $44,468.45 | $88,000.00 |
| Total for Interfund Transfers | $25,000.00 | $44,468.45 | $88,000.00 |
| Total for Other Uses | $25,000.00 | $44,468.45 | $88,000.00 |
| Total for Expenditures and Other Uses | $1,019,638.53 | $777,429.40 | $791,027.40 |
OSC Municipality Code 130470304160
37
Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Changes in Net Position
| 05/31/2024 | 05/31/2023 | 05/31/2022 | |
|---|---|---|---|
| Analysis of Changes in Net Position | |||
| 8021 - Net Position - Beginning of Year | $6,759,968.65 | $6,925,754.56 | $7,205,379.00 |
| 8012 - Prior Period Adjustment OR Change in Accounting | $4,827.83 | - | - |
| Principle - Increase in Net Position | |||
| correction on payable | |||
| 8015 - Prior Period Adjustment OR Change in Accounting | - | - | $45,557.92 |
| Principle - Decrease in Net Position | |||
| 8022 - Restated Net Position - Beginning of Year | $6,764,796.48 | $6,925,754.56 | $7,159,821.08 |
| Add Revenues and Other Sources | $890,091.85 | $611,643.49 | $556,960.88 |
| Deduct Expenditures and Other Uses | $1,019,638.53 | $777,429.40 | $791,027.40 |
| 8029 - Net Position - End of Year | $6,635,249.80 | $6,759,968.65 | $6,925,754.56 |
OSC Municipality Code 130470304160
38
Village of Red Hook Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Adopted Budget Summary
| 05/31/2025 | 05/31/2024 | 05/31/2023 | |
|---|---|---|---|
| Estimated Revenues and Other Sources | |||
| Estimated Revenue | |||
| 2199 - Est Rev - Departmental Income | $556,000.00 | $556,000.00 | - |
| 2499 - Est Rev - Use of Money and Property | $4,000.00 | $100.00 | - |
| Total for Estimated Revenue | $560,000.00 | $556,100.00 | $0.00 |
| Total for Estimated Revenues and Other Sources | $560,000.00 | $556,100.00 | $0.00 |
OSC Municipality Code 130470304160
39
Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
EW - Enterprise Water Adopted Budget Summary
| 05/31/2025 | 05/31/2024 | 05/31/2023 | |
|---|---|---|---|
| Estimated Appropriations and Other Uses | |||
| Estimated Appropriations | |||
| 1999 - App - General Government Support | $40,780.00 | $38,280.00 | - |
| 8999 - App - Home and Community Services | $288,005.63 | $271,789.75 | - |
| 9199 - App - Employee Benefits | $90,000.00 | $84,500.00 | - |
| Total for Estimated Appropriations | $418,785.63 | $394,569.75 | $0.00 |
| Estimated Other Uses | |||
| 9899 - App - Debt Service | $111,214.37 | $136,530.25 | - |
| 9999 - App - Interfund Transfers | $30,000.00 | $25,000.00 | - |
| Total for Estimated Other Uses | $141,214.37 | $161,530.25 | $0.00 |
| Total for Estimated Appropriations and Other Uses | $560,000.00 | $556,100.00 | $0.00 |
OSC Municipality Code 130470304160
40