Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
Supplemental Schedules
The Supplemental Schedules includes the following schedules:
-
Statement of Indebtedness
-
Bond Repayment
-
Bank Reconciliation
-
Employee and Retiree Benefits
OSC Municipality Code 130470304160
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Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
Statement of Indebtedness Debt Summary
|Debt Type|Beginning Balance|Debt Issued|Principal Paid|Paid From debt Proceeds|Accreted Interest|Prior Year Adjustment|Ending Balance| |---|---|---|---|---|---|---|---| |Bond|$2,424,927.50|$6,212,618.00|$66,385.50|$0.00|$0.00|$0.00|$8,571,160.00| |Bond Anticipation Note|$6,295,117.51|$605,917.92|$738,417.43|$6,162,618.00|$0.00|$0.00|$0.00| |Total|$8,720,045.01|$6,818,535.92|$804,802.93|$6,162,618.00|$0.00|$0.00|$8,571,160.00|
OSC Municipality Code 130470304160
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Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
Statement of Indebtedness Debt Records
|Debt Type/ Purpose|Lender Name|Issue Date|Maturity Date|Beginning Balance|Debt Issued|Principal Paid|Paid From Debt Proceeds|Prior Year Adjustment|Accreted Interest|Ending Balance| |---|---|---|---|---|---|---|---|---|---|---| |Bond Snowplow||12/12/17|12/12/27|$44,427.50|$0.00|$8,885.50|$0.00|$0.00|$0.00|$35,542.00| |Bond Police Truck||6/14/21|6/14/26|$32,000.00|$0.00|$7,500.00|$0.00|$0.00|$0.00|$24,500.00| |Bond Water System|USDA|9/24/14|5/31/53|$999,000.00|$0.00|$25,000.00|$0.00|$0.00|$0.00|$974,000.00| |Bond Water Phase 2|USDA|8/22/18|5/31/55|$1,349,500.00|$0.00|$25,000.00|$0.00|$0.00|$0.00|$1,324,500.00| |Bond Garbage/ Leaf Truck||2/15/24|2/15/27|$0.00|$50,000.00|$0.00|$0.00|$0.00|$0.00|$50,000.00| |Bond Sewer System|EFC|5/16/24|3/18/54|$0.00|$6,162,618.00|$0.00|$0.00|$0.00|$0.00|$6,162,618.00| |Bond Anticipation Note Sewer System|EFC|3/23/22|9/11/23|$6,295,117.51|$605,917.92|$738,417.43|$6,162,618.00|$0.00|$0.00|$0.00|
OSC Municipality Code 130470304160
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Village of Red Hook Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
Bond Repayment
| Fiscal Year Ending | Bond Principal Due | Bond Interest Due | Total Due | Remaining Principal Balance |
|---|---|---|---|---|
| 2025 | $289,815.50 | $62,593.85 | $352,409.35 | $8,281,344.50 |
| 2026 | $290,815.50 | $60,464.38 | $351,279.88 | $7,990,529.00 |
| 2027 | $297,815.50 | $50,192.49 | $348,007.99 | $7,692,713.50 |
| 2028 | $270,033.50 | $55,575.31 | $325,608.81 | $7,422,680.00 |
| 2029 | $263,430.00 | $54,126.88 | $317,556.88 | $7,159,250.00 |
| 2030 | $264,430.00 | $52,645.18 | $317,075.18 | $6,894,820.00 |
| 2031 | $266,430.00 | $51,112.05 | $317,542.05 | $6,628,390.00 |
| 2032 | $267,430.00 | $49,557.50 | $316,987.50 | $6,360,960.00 |
| 2033 | $269,430.00 | $47,951.88 | $317,381.88 | $6,091,530.00 |
| 2034 | $271,430.00 | $46,295.01 | $317,725.01 | $5,820,100.00 |
| 2035 | $272,930.00 | $44,596.88 | $317,526.88 | $5,547,170.00 |
| 2036 | $274,930.00 | $67,500.00 | $342,430.00 | $5,272,240.00 |
| 2037 | $275,930.00 | $41,053.44 | $316,983.44 | $4,996,310.00 |
OSC Municipality Code 130470304160
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Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
| Fiscal Year Ending | Bond Principal Due | Bond Interest Due | Total Due | Remaining Principal Balance |
|---|---|---|---|---|
| 2038 | $278,430.00 | $39,865.94 | $318,295.94 | $4,717,880.00 |
| 2039 | $280,430.00 | $37,319.38 | $317,749.38 | $4,437,450.00 |
| 2040 | $281,930.00 | $35,373.75 | $317,303.75 | $4,155,520.00 |
| 2041 | $284,430.00 | $33,379.06 | $317,809.06 | $3,871,090.00 |
| 2042 | $287,430.00 | $30,587.50 | $318,017.50 | $3,583,660.00 |
| 2043 | $288,930.00 | $29,478.76 | $318,408.76 | $3,294,730.00 |
| 2044 | $291,430.00 | $26,277.19 | $317,707.19 | $3,003,300.00 |
| 2045 | $293,930.00 | $24,030.62 | $317,960.62 | $2,709,370.00 |
| 2046 | $296,430.00 | $21,717.19 | $318,147.19 | $2,412,940.00 |
| 2047 | $298,430.00 | $19,346.88 | $317,776.88 | $2,114,510.00 |
| 2048 | $300,930.00 | $16,911.88 | $317,841.88 | $1,813,580.00 |
| 2049 | $303,430.00 | $12,585.62 | $316,015.62 | $1,510,150.00 |
| 2050 | $306,430.00 | $10,044.30 | $316,474.30 | $1,203,720.00 |
| 2051 | $309,430.00 | $7,083.62 | $316,513.62 | $894,290.00 |
OSC Municipality Code 130470304160
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Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
| Fiscal Year Ending | Bond Principal Due | Bond Interest Due | Total Due | Remaining Principal Balance |
|---|---|---|---|---|
| 2052 | $291,930.00 | $6,890.62 | $298,820.62 | $602,360.00 |
| 2053 | $268,430.00 | $4,992.21 | $273,422.21 | $333,930.00 |
| 2054 | $268,930.00 | $3,039.07 | $271,969.07 | $65,000.00 |
| 2055 | $65,000.00 | $1,023.44 | $66,023.44 | $0.00 |
| Total | $8,571,160.00 | $1,043,611.88 | $9,614,771.88 | |
| $8,571,160.00 Total Bond Ending Balance for Statement of Indebtedness. |
OSC Municipality Code 130470304160
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Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
Bank Reconciliation
Accounts
| Account No. | Account Type | Associated Fund(s) | Bank Balance | Deposits In Transit | Outstanding Checks | Adjustments | Total |
|---|---|---|---|---|---|---|---|
| 3874 | Checking | A | $10,271.88 | $0.00 | ($2,889.50) | $0.00 | $7,382.38 |
| 366 | Checking | A | $777,399.34 | $354.00 | ($8,555.96) | $0.00 | $769,197.38 |
| 182 | Checking | A | $12,719.32 | $0.00 | $0.00 | $0.00 | $12,719.32 |
| 399 | Checking | A | $39,152.54 | $0.00 | ($958.92) | $0.00 | $38,193.62 |
| 4058 | Savings | A | $588.68 | $0.00 | $0.00 | $0.00 | $588.68 |
| 3938 | Savings | A | $17,629.49 | $0.00 | $0.00 | $0.00 | $17,629.49 |
| 3399 | Savings | A | $1,004.54 | $0.00 | $0.00 | $0.00 | $1,004.54 |
| 3406 | Savings | A | $7,256.74 | $0.00 | $0.00 | $0.00 | $7,256.74 |
| 3422 | Savings | A | $3,407.21 | $0.00 | $0.00 | $0.00 | $3,407.21 |
| 3844 | Savings | A | $3,387.46 | $0.00 | $0.00 | $0.00 | $3,387.46 |
| 4066 | Savings | A | $7,762.56 | $0.00 | $0.00 | $0.00 | $7,762.56 |
| 3258 | Savings | EW | $18,294.61 | $0.00 | $0.00 | $0.00 | $18,294.61 |
OSC Municipality Code 130470304160
54
Village of Red Hook
Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
| Accounts | Accounts | Accounts | Accounts | Accounts | Accounts | Accounts | Accounts |
|---|---|---|---|---|---|---|---|
| Account No. | Account Type | Associated Fund(s) | Bank Balance | Deposits In Transit | Outstanding Checks | Adjustments | Total |
| 3943 | Savings | EW | $143,444.99 | $0.00 | $0.00 | $0.00 | $143,444.99 |
| 410 | Checking | EW | $444,916.92 | $370.36 | ($12,239.10) | $0.00 | $433,048.18 |
| 1088 | Checking | ES | $62,795.38 | $0.00 | ($29,431.70) | $0.00 | $33,363.68 |
| 5772 | Checking | TE | $4,618.68 | $750.00 | $0.00 | $0.00 | $5,368.68 |
| 493 | Checking | TE | $9,692.50 | $0.00 | $0.00 | $0.00 | $9,692.50 |
| Total | $1,564,342.84 | $1,474.36 | ($54,075.18) | $0.00 | $1,511,742.02 | ||
| $1,511,742.02 | |||||||
| Total Cash From Financials |
OSC Municipality Code 130470304160
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Village of Red Hook Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
Bank Reconciliation
Collateralization of Cash
Investments and Collateralization of Investments
| Collateralization of Cash | |
|---|---|
| Total Bank Balance | $1,564,342.84 |
| FDIC Insurance | $500,000.00 |
| Collateralized with Securities held in possession of the | |
| municipality or its agent or otherwise secured | $1,515,210.32 |
| Total of FDIC Insurance and Collateralized with | |
| securities held in possession of the municipality or its | |
| agent or otherwise secured | $2,015,210.32 |
| Investments and Collateralization of Investments | |
|---|---|
| Investments From Financials | $0.00 |
| Market Value as of Fiscal Year End Date | $0.00 |
| Collateralized with Securities held in possession of the | |
| municipality or its agent or otherwise secured | $0.00 |
OSC Municipality Code 130470304160
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Village of Red Hook Annual Financial Report
For the Fiscal Period 06/01/2023 - 05/31/2024
Employee and Retiree Benefits
Total Number
| Full Time Employees | Part Time Employees | Part Time Employees | Volunteers with Paid Benefits | Volunteers with Paid Benefits | Volunteers with Paid Benefits | Retirees with Paid Benefits | Retirees with Paid Benefits | Retirees with Paid Benefits |
|---|---|---|---|---|---|---|---|---|
| 9 | 10 | 0 | 2 | |||||
| Number Receving Benefits | ||||||||
| Benefit | Amount | Full Time | Part Time | Volunteer | Retiree | |||
| State Retirement System | $30,560.16 | 5 | 3 | 2 | ||||
| Police Retirement | $108,305.83 | 4 | 5 | 0 | ||||
| Fire Retirement | ||||||||
| Local Pension Fund | $8,491.87 | 0 | 0 | 0 | ||||
| Social Security | $66,552.60 | 9 | 10 | 0 | ||||
| Worker's Compensation | $50,046.39 | 9 | 10 | 0 | ||||
| Life Insurance | ||||||||
| Unemployment Insurance | ||||||||
| Disability Insurance | $2,464.00 | 9 | 10 | 0 | ||||
| Hospital, Medical and Dental Insurance | $170,423.13 | 9 | 0 | 2 | ||||
| Union Welfare Benefits | ||||||||
| Supplemental Benefit Payments to Disabled Firefighters | ||||||||
| Employee Benefits,Other | $4,194.31 | 0 | 0 | 0 | ||||
| Total Employee Benefits Paid | ||||||||
| $441,038.29 |
OSC Municipality Code 130470304160
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