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Annual rinc;cncial Report
1965-IN6
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December 12, 1966
Mr. Jack Reynolds
City Manager
City of Denton
Denton, Texas
Dear Sir:
The Annual Financial R:-part of the City of Denton, Texas, for the fiscal year
ended September 30, 1966, is submitted herewith. {
ACCOUL4TING SYS- EM AND RECORDS
A Cprtifioate cf Conformance was a, arded to the City of Denton, following a
review of the City's 1964-65 Financial Report by the Municipal Finance Officers
Association. The organization, form and content of the City's Annual Financial
Reports conform, cubetantially, with the principals and standards of public
financial reporting, as promulgated by the Municipal Finance Officers Association I
and the National Association of Governmental Accournting.
The City's General Fund Accounting System is on a modified cash basis, while
all other funds are on accrual basis. All accounting records and controls are
posted by accounting machines which also post subsidiary aprroprlation ..f r md-
iture ledger sheets for amounts appropriated, expended, an'., encumbrances
charged to each account.
All financial statements and related schedules contained in this report are e17eCtly
from the books and records of the City and accurately reflect the financial condition
of the City at September 30, 1966. This report covers all phases of the City's
financial operations with the major sections of the report being the General Fund,
the Electric Fund and the Water and Sewer Fund.
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GENERAL FUND
The feature of prime Importance for the reflection of general City government
can be simply portrayed by comparing revenue from all sources to total disburse-
ments as summarized below:
General Fund Revenues $1,504,474
General Fund Disbursements $1,664,849
Expenditures exceeded revenues primarily because of unbudgeted expenditures
for (1) $84,238 contribution to the Community Building, (2) $56, 126 special
capital expenditures for the Civic Center and (3) $34,691 special capital expend-
itures for the Service Center.
ELECTRIC UTILITY
The Electric Utility is City owned and operated. During wis fiscal year the
generating plant and the distribution system have undergone extensive expansion
with the aid of bond funds and operating funds. This expansion will have a
marked effect on future years operations.
The following summary compares this year's Electric Utility operations with the
preceding year's:
Increase
1966 1965 (Decrease
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Total Revenue $3,090,187 $2,858,980 $231,207
Operating Expenses 7,291,650 1,200,703 90,947
Net Income Before Depreciation
and Bond Interest $1,798,537 $1,658,277 $140,260
Bond Interest and Depreciation 1,256,226 1,146,463 109,763
Net Income $ 542,311 $ 511,814 $ 30,497
The Interest and Sinking Fund and Reserve Fund balances are over the amounts
required by the Electric Revenue Bond Ordinances.
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WATER AND SEWER UTILITY
The Water and Sewer Utility is City owned and operated. The following summary
compares this year's Water and Sewer Utility operations with the preceding year's:
Increase
1466 1965 SDecraase
Total Revenue $999,540 $914,877 $ 84,663
Operating Expenses 478,982 394,391 84,590
Net Income Before Depreciation
and Bond Interest $520,558 $520,485 $ 73
Bond Interest and Depreciation 550,681 474,192 _ 77,489
Net Income 30,123) $ 41,293 71,416)
The Interest and Sinking Fund and Reserve Fund balances are over the amounts
required by the Water and Sewer Revenue Bond Ordinance.
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INDEPENDENT AUDIT
The City Charter requires an annual audit of all accounts of the City government
by a Certified Public Accountant who shall have no personal interest directly or
indirectly in the financial affairs of the City government. This provision of the
Charter has been fully complied with.
` CONCLUSION
It Is my opinion that this report fully Indicates that the City's fiscal policies are
adequate and that the City is in a sound financial position.
In closing I wish to express my appreciation to L:,.? entire City staff and others
for their participation in the preparation of this report,
Respectfully :,ubmitted,
A of Finance +I
III ticrWvri:~u~ovsi: Co.
K[PLFlS.IONAI[o561. Dk%% Drrnmva
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November 23, 1966
To the Honorable Mayor and City Council
City of Denton, Texas
We have examined the financial statements of the
` several funds of the City of Denton, Texas as listed under
r Section I in the attached index for the year ended Seotember
300 1966. Our examination was made in accordance with
generally accepted auditing standards, and accordingly
included such tests of the accounting records and such other
auditing procedures as we considered necessary in the circum-
stances.
In our opinion, the statements listed under Section
I in the attached index pre3ent fairly the financial position
of the several funds of the City of Denton, Texas at September
36, 1966 and the results of their operations fot the year then
ended, in accordance with Accounting practices generally fol-
lowed by municipalities applied on a basis consistent with that
of the preceding year.
Our examination was made primarily for the purpose
of forming our opinion on the financial statements, taken as
a whole. We also examined the supplementary information,
presented on pages 50 to 58 inclusive, by similar auditing
procedures. In our opinion, this supplementary information
is stated fairly in all material respects in relation to the
financial statements, taken as a whole. Although not essen-
tial for a fair presentation of financial position and results
of operations, this information is submitted as additional data.
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CITY OF DENTON, TEXAS
FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1966
TABLE OF CONTENTS
SECTION I - FINANCIAL STATEMENTS
Exhibit Page
General Fund:
Comments 1
Balance Sheet 1 2
Analysis of Changes in Appropriated Surplus 2 3
Analysis of Changes in Unappropriated ",irplus 3 4
l Statement of Estimated and Actual Revenue 4 5-6
r Statement of Appropriations and Expenditures 5 7
Revolving Funds:-
Comments 8
j Working Capital Fund:
Balance Sheet 6 10
Statement of Fund Balances 7
Statement of Income 8 li
Motor Pool Fund:
Balance Sheet 9 12
Analysis of Fund Balance 10 13
Special Assessment and Bond Funds:
Comments 14
Balance Sheet 11 15-16
Analysis of Fund Balance 12 17-18
Statement of Cash Receipts and Disbursements 13 19-20
' Trust, Agency and Miseellaneo-1s Funds:
Comments 21
Balance Sheets 14 22
Analysis of Fund Balances 15 23
Statement of Cash Receipts and Disbursements 16 24
Electric System:
Comments 25
Balance Sheet 17 26-27
Analysis of Changes in Surplus Accounts 18 28
Statement of Income 19 29
Notes to Financial Statements 20 30
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Water and Sewer System; Exhibit
Comments
Balance Sheet 31 21 Analysis of Changes in Surplus Accounts 22 34
333
Statement of Income 23 35
General Fixed Asset Accounts;
Comments
Statement of General Fixed Assets 36
Statement of Changes in General Fixed 24 37
Assets - By Sources 25
Statement of Changes in General Fixed 38
Assets -
34
Statement ofyGeneraloFixeddAssetsitiBy 26
Functions and Activities 27
40
General Bonded Debt;-
Comments
Statement of General Bonded Debt and Interest 28 42 41
Statement of Amount to be Provided for
Retirement of General Bonded Debt and
Interest 29 43
Debt Retirement Fund;
I Balance Sheet 30 44
Statement of Cash Receipts and
Disbursements 31 45
Combined Balance Sheet - All Funds
32 46-47 '
Statement of Bonds Payable - All Funds
33 48-49
SECTION II - SUPPLEMENTARY FINANCIAL INFORMATION
Future Debt Requirements
34 50-51
Detail Statement of Appropriations and
Expenditures - General Fund 35
52-56
Insurance Coverage - Utility Systems 36
57
Statistical Data 37
58
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CITI OF DENTO,N, TEXAS
GENERAL FUND
recorded in The general govern*nc-ntal activities of yythe city are
received from k~propertyltaFund, which is xes, licenses, fines, otherrnue
efundssand
other miscellaneous revenue.
The General Fund accounts are kept on a modified cash
basis. Expenditures chargeable to the fiscal year ended September
30, 1966 not paid during Lhat year have been accrued and are shown
as accounts payable or encumbrances in the financial statements.
Actual revenues for the year were $59,578 less than
budgeted reve;ties. This resulted primarily from (1) real and
personal prope.ty taxes being $9,163 less than estimated because
of a decline in the percentage of taxes collected, (2) licenses
and permit revenues being, $4,992 less than estimated because of
a decline in home building, and (3) garbage service revenue being
$43,623 less than estimated because of inclusion in the budgeted
amount of a service rate increase which was not placed into effect.
These deficiencies were only partially offset by court fines which
exceeded the estimate by $11,000 because of an increase in t%e
number of traffic tickets issued during the year.
Expenditures for the year plus encumbrances outstanding
at
pritiarily oto special year
capital exceeded expenditures appropriations during the$1ar o f, due
$56,126 for the Civic Center, $34,691 for the Sa YerviceCen Center
ter of, and
$84,238 for the Community Building.
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EXHIBIT 1 J/
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CITY OF DENTON, TEXAS
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GENERAL FUND
BALANCE SHEET
SEPTEMBER 30, 1966
Assets
Cash in bank and on hand
Cash in open time deposits and $ 225
savings and loan nssociatioiis
i Taxes receivable - delinquent 4200000
Miscellaneous accounts receivable $165,702
-__6j_730
Less - Estimated uncollectible accounts 172'432
170,547
1,885
PorDetoiaon of advance to Texas Highway
rtment to be recovered through
future street assessments
` Due from other funds; 65,000
r Payroll Fund
Youth Corps Fund 300
Debt Retirement Fund 2
3,775
.944
Prepaid insurance 2 944 7x352
Investment in Working Capital Fund 8'352
1.063)
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Liabilities and S_ ur` ll
Accounts payable
Due to other funds: $ 24,655
Water and Sewer System Fund
Community Building Bond Fund 41,895
Total liabilities 8 238
Reserve for encumbrances 150,788
Surplus; - current year 15,045
Appropriated (Exhibit 2)
Unappropriated (Exhibit 3) 30,117
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EXHIBIT 2
CITY OF DENTON, TEXAS
GENERAL FUND
ANALYSIS OF CHANCES IN APPROPRIATED SURPLUS
FOR THE YEAR ENDED SEPTEDfBER 30, 1966
Reserve Reserv&
for for park
airport improvements
improve- and
ments maintenance otel
Balance, October 1, 1965 $3,194 $ 5,969 $ 91163
Add:
Rental income 470 6,823 79293
Contributions from
individual estates 1,258 1,258
Deduct:
Expenditures during
the year ( 1,912) { 10,635 ( 12.354Z)
Balance, September 30, 1966 17
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EXHIBIT 3
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CITY OF DENTON, TEXAS
GENERAL FUND
ANALYSIS OF CHANCES IN UNAPPROPRIATED SURPLUS
FOR THE !EAR ENDED SEPTEMBER 30, 1966
i Actual
over
(under)
Estimated Actual estimate
Unappropriated surplus,
October 1, 1965 $ 490,793 $ 4900793
Total revenue for the year
(Eyhibit 4) 1,564,052 1,504,474 ( 78)
2,054,845 1,9915,267 01578)
Deduct (Exhibits 5 & 35):
Expenditures 1,493,986 116490804 155,818
Reserve for encum-
brances, September
30, 1966 15,045 15,045
1,493,986 1,664,849 170.863
Unappropriated surplus,
September 30, 1966 b 560.859 3~ _3 ($230,441)
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EXHIBIT 4
CI1Y OF DENTON, TEXAS
- GENERAL, FUND
STATEMENT OF ESTI',ATED AND ACTUAL REVENUE
FOR THE YEAR ENDED SEPTEMBER 309 1966
Actual
(over)
under
Actual Estimated, estimated
Ad valorem taxes - Ceneral
FL,,d share only:
Current years taxes $ 5143791 $ 518,182 $ 31391
Delinquent taxes 16,889 20,000 3,111
Penalty and interest 9,339 12,000 _ 2,661
Total 541,019 550,182 ;9163
Franchise and occupaticii
taxes:
Lone Star Gas Co. 15,268 173270 2,002 1
General Telephone Co.
of the Southwest 16,939 ___161948 9
Total 32,207 34,218 21011
Licenses and permits:
Zoning permits 1,18° 13500 315
Dog licenses 132 1400 868
Tax certificates 11087 1,000 ( 87)
Electric and plumbing
licenses 940 750 ( 190)
Building permits 12,023 152000 2,977
Vital statistics 1,518 1,400 ( 118)
Miscellaneous permits 1,655 19500 ( 155)
Loading zones 618 29000 11382
Total 19,158 24,150 40992
Parking ineter receipts 23037,' 25,000 19630
Fines and fees:
Corporation court 100,524 900000 lPq 24
Animal pound 208 150 58
Auto pound 11420 1.000 420
Total 102,152 91,150 ( 111002)
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EXHIBIT 4
(Continued)
Actual
(over)
under
Actual Estimated estimated 10
Other revenue sources:
Electric inspection $ 30393 $ 3,000 $ 393
Plumbing inspection 32882 3,500 382
Paving assessment interest 21331 -0- 29331
Rent and commissions 31865 3,000 865
Cemetery service 13995 1,000 995
County fire runs 1,160 13000 160
County radio and identi-
fication 30000 39000 -0-
Garage service 181,377 225,000 43,623
swimming pool receipts 8,184 10,000 1,816
Miscellaneous income 1,036 7,000 5,964
Total 210,223 256,50 46,277
Interest income 17,481 201000 2,519
Transfers from utility funds:
Administrative services 288,445 291,167 2,722
Return on net investments 270,419 271,685 19266
Total 558,864 562,852 31988
Total revenues
(Exhibit 3) X504,47+ $1,564,052 $59,578 i
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EXHIBIT 5
CITY OF DENTON, TEXAS
GENERAL FUND
STATEMENT OF APPROPRIATIONS AN)) EXPENDITURES
FOR THE YEAR ENDED SEPTEDfiER 30, 1966
Expenditures Unencumbered
and
_
Appropriations Encumbrances _Deficit)
$ 63,004 $ 63,187 183)
General government 68,096 5;,264 12,827
Finance office 25,615 25,765 ( 150)
Finance - tax department
Finance - utility 88,864 90,209 ( 1,345)
accounting 31,556 28,550 31006
Legal department
I~ Health and sanitation
department: 10,056 11,368 ( 1,312)
Inspect :c•' 170,024 180,403 ( 10,379)
Garbrge collection 299947 26,465 3,482
Garbage disposal 274,117 2772285 ( 3,168)
Police d-partment 196,315 1961306 9
Fire department 250,000 2510585 ( 1,585)
Street department 116,492 103,319 13,173
Engineering and drafting
Park and recreation
department: 65,299 79,721 ( 141422)
Director and parks 119273 141520 ( 32247)
Swimming pool 10,826 10,308 818
Other 15,568 17,324 { 1,756)
Cemetery department 11,434 81221 31213
Civil defense anc: WLLcty 13,000 120120 880
Insurance
payment to Flow Memorial 12,500 12,500 -0-
Hospital
Loss from Working capital 2,111 ( 29111}
Fund (Exhibit 7)
Cost of equipment cuntri- 130251)
buted to Motor Pool Fund 13,251
Capital expenditures:
Contributions to Com-
munity Building Bond 84,238
Fund
other non-budgeted 30,000 10,007 ( 1559062)
expenditures
ti Special capital expendi-
tures: 56,126
Civic Center 34,691
Service Center $1,664,849 ($1,70,8
63}
1 493
(Exhibit 3) ,=9 1
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CITY OF DENTON, TEXAS
REVOLVING FUNDS
The Working Capital Fund was established from funds
provided by departments which use storeroom, shop, and garage
facilities. These facilities provide vehicle maintenance,
storage of various maintenance and repair items, and rktscel-
laneous repair services to the various departments. Toese
services are provided at approximate cost, and any net incime
or loss which may arise t4erefrom is distributed to the depart-
ments which established the fund.
The Motor Pool Fund was established on June 1, 1957
with the transfer to it, at appraised value, of the city's
motorized equipment. Transactions in connection with the rental
of this equipment to the city departments and the purchase of
additional and replacement motorized equipment are recorded in
the fund.
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EXHIBIT 6
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CITY OF DENTON, TEXAS f
WORKING CAPITAL FUND
BALANCE SHEET
SEPTEMBER 30, 1966
Assets
Miscellaneous accounts receivable $ 511
Inventory of materials and supplies 232,195
Deposits on containers 250
232,956
Liabilities and Fund Investments
Accounts payable $ 61,396
Advance by the Electric System Fund 201,133
Investments by other funds (Exhibit 7):
General Fund $ 11063)
Electric System Fund 152233)
Water and Sewer Fund .139277) (_290573)
$232,956
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EXHIBIT 7
CITY OF DENTON, TEXAS
WORKING CAPITAL FUND
STATEMENT OF FUND BALANCES
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Water
Electric and
General System Sewer
Fund Fund Fund Total
Investment at
October 1, 1965 $13048 $15,027 13 099 ,29,174
Distribution of
departmental (loss)
C (Exhibit 8):
Storeroom 19744 24,999 21s791) 4a)534
Machine shop 271, 3,878 3,381) 71530
Garage 36 520 454 10010
Central storeroom ( 132) ( 1,903) { 1,658) ( 39693)
i ( 21111) (_30,260) { 26,376) ( 58,747)
Investment at
September 30, 1966 {063) 015,233 ('1~ 3x277) ( 29 573)
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FAHIBIT 6
CITY OF DENTON, TEXAS
WORKING CAPITAL FUND
STATEMENT OF iNCCME
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Machine Central
Storeroom _ Shop__ Garage Storeroom Total
Sales $396,819 1_.6L436 $97,060 $2,948 $503,263
Cost of sales:
Beginning
inventory 2445598 7,222 283 53074 2579177
Purchases 421,914 _ 6,424 94,337 30365 526,040
666,512 13,646 94,620 8,439 7833217
Less - Ending
inventory _221,159 7,579 1,659 1.798 232,195
445,353 62067 920961 _6,641 551,022
Gross profit (loss)
on sales ( 489534) 369 4,099 ( 30693) ( 47,759)
income from garage
and shop service _ 19,335 47,161 _ 66,496
( 48,534) 19,704 51,260 ( 3,693) 18,737
Expenses:
Salaries and
wages 19,533 37,332 560865
I Materials and
supplies 561 1,406 19967
Maintenance 21556 172 29728
Equipment
purchases 1,008 21289 3,297
Equipment
rental 1,200 11344 29544
Miscellaneous _ 2,376 _ 7,707 109083
27,234 50,250 77,484
Departmental (Loss) 4 530) 010 (¢~3 ( 58 747)
(Exhibit 7) 48, 53 7 1 3)
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EXHIBIT 9
CITY OF DENTON, TF]tAS
r MOTOR POOL FUND
BALANCE SHEET
SEPTEMBER 309 1966
Assets
Cash $ 85,099
Deposits with savings and
loan associations 20,000
Open time deposits 80,000
Equipment, at appraised value as
at June 1, 1957, with subsequent
' additions at cost $888,875
Less - Accumulated depreciation ( 456,216)
432 , 659
617,758
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Liabilities and Fund Balance
Accounts payable $ 919 J
+ Fund balance, September 30, 1966
(Exhibit 10) 616,839
617 758
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EXHIBIT 10
CITY OF DENTON, TEXAS
MOTOR FOOL FUND
ANALYSIS OF FUND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Balance, October 1, 1965 $5090819
Add:
Income from equipment rental $170,880
Equipment purchased and charged
to capital expenditures by other
departments, transferred at cost
to motor pool 39,638
Gain on sale of equipment 25,031
Interest income 4,181
Other income 385
240,115
Deduct:
Provision for depreciation 133,095 107,020
Balance, September 30, 1966 (Exhibit 9) 616 839
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CITY OF DENTON, TEXAS
SPECIAL ASSESSMENT AND BOND FUNDS
The Special Assessment and
Bond account for the proceeds of various street Fimprovement rand e civic
project bond issues authorized in 1960 and 1964. The funds also
account for transactions tnvolving special assessments levied
against benefited property o,.^iers for street improvements.
No additional bond issues were authorized during 1966.
Bonds in the aggregate principal amount of $1,000,000 were issued
during the year ended September 30, 1966 as follows:
Street Improvement bonds - 1960 series $235,000
Community Building bonds 35Q 000
Municipal Building bonds 350 000
Street Improvement bonds - 1964 series 65)000
1 000 000 {
Street Improvement bonds - 1964 series in the principal amount of
$1,385,000 are authorized for possible future issuance at September
" 30, 1966.
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CITY OF DENTON, TEXAS
SPECIAL ASSESSMENT AND BOND FUNDS
BALANCE SHEET
SEPTEMBER 30, 1966
Fire
Street Bond Station
Assets Total Fund Fund
Cash (Exhibit 13) $ 151,715 $ 31,852 $11,774
Deposits with savings and
loan associations 47,000 20,000
Open time deposits 964,000 360,000
Street- improvement assessments
receivable 127,262 127,262
Less - Reserve for street
improvement assessments ( 127,262) ( 1272262)
Due from General Fund 84,238
Bonds unissued:
Authorized 3,850,000 3,850,000
Issued ( 2,465,000) (_2p_465,000)
2 631,953 L11796,852 $11 ,774
Liabilities and Fund Balance
Accounts payable $ 986 $ 53
Contracts payable 24,000
Total liabilities 240986 53 _
Reserve for encumbrances 408,644 84,100
Fund balance, per accomppanying
schedule (Exhibit 12)
Appropriated 2,145,345 196599721 $11,774
Unappropriated 52,978 52,978
2,6061967 19796,799 110774
12,6311953 1j.796,852 11 174 r
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EXHIBIT 11
Park and Swimming Library Community Municipal
t Recreation Pool Building Building Building
Airport _ Fund Fund Fund Fund _ Fund
$7,771 $ 2,507 $253 $ 1,308 $ 91,239 $ 51011
27,000 104,000 150,000 350,000
84,238
~57529 507 1253 ~105,30a 33=2=! 77 ~C355.011
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$ 933
2$ 4,000 - -
24,000 933
324,544
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$7,771 5,507 $253 $1050308 $355,011
~J 7177. 51507 253 105,3013 324,544 355,011
1
7771 ~49~507 X253 105 308 325,477 $355.01
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CITY OF DEMON, TEXAS
SPECIAL ASSESSMFNT AND BOND FUNDS
ANALYSIS OF SURPLUS I/
SEPTEM3 ER 30, '1966
Total - Street Bond Fund
PPro- -
A~propriated priated TLappro
Appropriated riated
Balance, October 1, 1965 $2,588,774 ~
Add; $45,093 .1,757,209 $452093
Collection of street
improvement assess-
ments 56,814
Interest income from 56,814
investments 19,797 7885
Income from sale of , 7,885
property 25,947
Other income 25,947
Due from General Fund 4,556 4,556
Encumbrances carried 84,238
over from 1965 50,555
Less: Encumbrances in 50,555
excess of actual
expenditures ( 403)
I - ( - 3)
Deduct:- _ 241,504 72885 137,469
Construction: 7,885
Expenditures 1965 509152
Expenditures 1966 219,705 50,152
Encumbrances 4089644 97,733
Bond issuance expense _ 6j432 84,100
Total deductions 684,933 21972
lalance, September 30, 234,957
1966 (Exhibit 11) 2 145 345
X52,978 59,721 $52,978
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EXHIBIT 12
Fire Park and Swimming Library Community Municipal
i Station Airport Recreation Pool Building Building Building
Fund Fund Fund Fund _Fund _Fund_ Fund
Appro- Appro- Appro- Appro- Appro- Appro- Appro-
priated rp iated _priated priated priated priated -priated
$15,740 $9,472 $4,170 $835 $101,348 $350,000 $350,000
500 1,337 3,960 7,000 71000
84,238
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500 11 337 3,960 91,238 71000
4,466 1,701 582 114,964 259
324,544
1,730 1,730
40466 1,701 582 441,238 1,989
11 774 7 771 5 507 15253 10105 308 0- $355,011
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CITY OF DENTON, TEXAS
SPECIAL ASSESSMENT AND BOND FUNDS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Municipal Community
Building Building
Totals Fund Fund
Cash balance, October 1, 1965 $ 69,026 -0- -0-
Receipts:
Sale of bonds 1,000,000 $350,000 $350,000
Interest income 27,682 7,000 7,000
Collections on street improve-
ment assessments 56,813
1 Rdpaymer,t on loan from Fire
f Station Bond Fund 16,783
Repayment from General Fund 1309141
Redemption of open time
deposits 431,995
Sale of property 25,946
Other income 2,995
Total receipts 15692,355 357,000 357,000
Disbursements:
Construction 288,563 259 114,031
Investment in open time
deposits 1,246,995 350,000 150,000
Deposits in savings aid loan
associations 20,000
Refunds of collections on
street improvement assess-
ments 388
Bond issuance expense 4,942 1,730 1,730
Accounts payable from prior
years 31,995
Repayment of loan 16,783 _
Total disbursements 1,609,666 3513989 265,761
Cash balance, September 30, 1966 r
(Exhibit 11) 151 7l5 S 011 91.239
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EXHIBIT 13
AWN
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Street Fire Park and Swimming Library
Bond Station Airport Recreation Pool Building
Fund _ Fund Fund Fund Fund Fund y
Y 50,437 _-0- $11,236 $4,170 $835 $ 2,348
300,000
7,885 $ 500 1,337 3,960
56,813
16,783
130,141
282,995 50,000 99,000
25,946
_ 2,995
823,558 50,500 -0- 11337 -0- 1023960
148,287 20,703 19701 3,000 582
642,995 104,000
20,000
388
1,482
28,991 11240 1,764
16,783
843,143 38,726 _ 31465 3,000 582 _104,000
5253 $ 1,308
31,85 2 $111 774 X7,771 IL _507
{
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CITY OF DENTON, TEXAS
TRUST, AGENCY AND MISCELLANEOUS FUNDS f
For certain types of transactions the city acts as
trustee or custodian. These transactions are recorded in the
Trust, Agency and Miscellaneous Funds and are described below.
Transactions in connection with contributions, pension
payments to retired fitemen and management of funds available
for investment are recorded in the Firemen's Pension Fund.
The Payroll Fund serves as a depository into which
transfers from other funds and payments for municipal payrolls
and payroll deductions are recorded.
The Youth Corps Fund was provided by the federal
government to aid underprivileged youth in the Denton area.
The program was a summer activity whereby the youth were pro-
vided summer jobs and compensated from the Youth Corps Fund.
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EXHIBIT 14
CITY OF DENTON, TEXAS
TRUST, AGENCY AND MISCELLANEOUS FUNDS
BALANCE SHEETS
SEPTEMBER 30, 1966
Youth Firemen's
Corps Pension Payroll
Assets Fund Fund _ Fund
Cash $ 89 $ 3,989 $300
Deposits with savings and
loan associations _ 96,098 _
(Exhibit 16) 89 1000087 300
Amount receivable from
1 U. S. Government 3,686
f ~3L775 1002087 x$300
Liabilities and Fund Balance
` Due to General Fund $3,775 $300
Fund balance (Exhibit 15) $100s087
$3s775 100 087 300
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EXHIBIT 15
CITY OF DENTON, TEXAS
TRUST, AGENCY AND MISCELLANEOUS FUNDS
ANALYSIS OF FUND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Youth Firemen's
Corps Pension
Fund _ Fund
Balance, October 1, 1965 $40,143 $ 889540
Add:
Grant from federal government 25,095
Pension contributions 149585
Interest income 4,425
Insurance refunds 43
Receivable from U.S. Government 31686
28,824
191010
Deduct:
Pension payments 51765
i Refund of contributions to
terminated firemen 1,698
Payments for youth services 22,879
Materials, supplies and other
expenses 51948
Return of unexpended portion of
1965 grant from U.S. Government 40,140
68,967 7,463
Balance, September 30, 1966
(Exhibit 14) -0- 1$1009087
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EXHIBIT 16
i
CITY OF DENTON, TEXAS f
TRUST, AGENCY AND MISCELLANEOUS FUNDS
STATLMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Youth Firemen's
Corps Pension Payroll
Fund _ Fund Fund
Cash balance, October 1, 1965 $44,116 $_87p876 $ 39,102
Receipts:
Grant received from the
federal government 25,095
Pension contributions 14,585
Interest 4,425
Cash transfers for municipal
payrolls 10423,322
Collection of receivables 664
Insurance refunds _ 43 _
252138 19 74 19423,322
i
Disbursements:
Pension payments 5,765
Refund of contributions to
terminated firemen 11698
Payment of liability to
General Fund 3,000
Payment of payrolls and
payroll deductions 22,879 1,423,322
Payment of prior year
payables 3,973 359802
Materials, supplies and
{ other expenses 2,173
Return of unexpended portion
of 1965 grant from U. S.
Government 40,140
69,165 7,463 12462,124
j Cash balance, September 30, 1966
(Exhibit 14) _ 89 100 087 300
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CITY OF DENTON, TEXAS
ELECTRIC SYSTEM
r
The Electric System accounts are kept on an accrual
basis. Electric service charges are billed to customers monthly
on a cycle billing basis. As a result of this method of billing
there will be, at any given date, a certain amount of unbilled
service which has not been recognized in the accounts. Since
this situation exists from one year to the next, the net effect
on revenues for the period is minor.
Customers accounts receivable include both electric
system accounts and water and sewer system accounts. All
customers utility accounts receivable: are carried by the
Electric System Fund as a means of facilitating the accounting
for collections. Each fund, however, records its own share
of income from services and l-s,,; from uncollectible accounts.
the ElectricUnder
System FFund provi.iions of
required e to applicable
transfer 12-1/2,dofance,
its gross revenues to the Extension and Improvement Fund. Trans-
actions during the year ended September 30, 1966 are sh%wn on
page 28.
Under the provisions of the applicable bond ordinances,
there was required to be on deposit in the Interest and Redemption
Find and Reserve Fund the amount of $1,645,003 at September 30,
1966. Cash and the market value of U. S. Government securities
on deposit and the amount due from the Electric System Fund
totaled $1,708,713.
The city charter adopted March 2, 1959 provides for the
annual payment to the General Fund from the excess revenues of
the utility systems, as defined in the charter, of an amount not
exceeding six percent of the city's net investment in the utility
systems. During the year ended September 30, 1966, the Electric
System Fund paid $230,758 to the General Fund in fulfillment of
its obligation under this provision of the charter.
There were approximately 10,586 active electric accounts
at September 30, 1966. Sales by the Electric System approximated
146,400,220 kilowatts during the year.
A description of the insurance coverage applicable to
the electric system is included in this report on page 57.
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CITY OF DENTON, TEXAS
ELECTRIC SYSTEM
Assets
Current assets:-
Cash $ 141,155
Cash in cpen time deposits and savings
and loan associations 1,068,000
Arcounts receivable - customers 329,639
Accrued Interest receivable 16,053
Due from other finds:
Electric System Extension and
Improvement Fund $ 133,942
Electric System Reserve Fund 535 134,477
Prepaid insurance 4,794
Total current assets 1,694,118
Investment in and advance to Working
Capital Fund 185,900
Electric system funds restricted
under applicable bond ordinances:-
Bond Fund:
Work in progress (Note 3 ) $3,158,363
Less - Fund liabilities -
Contracts payable - retained
percentage and other accounts
payable 391,842)
2,766,521
Interest and Redemption Fund: '
Cash
Cash on depoast with savings and loan $ 86,343
associations 615,000
Due from Electric System Fund 5,894 707,237
Reserve Fund:
Cash $ 535
Cacti in open time deposits and savings
end loan associations 877,000
U.S. Government securities, at amortized
cost approximating market value (Note 2) 124,476
Less - We to Electric System ( 535)
1,001,416
Extension and Improvement Fund:
Cash
Casb in open time deposit 125,000
$
Less - Due to Electric System Fund 133.942) 0-
Utility plant as appraised by consulting
engineers at September 30, 1960, with
subsequent additions at cost (Note 1)t
tand and land rights 180,755
Electric plant production and distribution
facilities leas accumulated depreciation
of $5,647,155 15,729,582
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22,265,589
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EXHIBIT 17
BALANCE SHEET
SEPTEMBER 30, 1966
Liabilities
Current liabilities:-
Accounts payable $ 96,282
State sales tax payable 14,981
Customers deposits 172,790
Lie to Electric System Interest and
Redemption Fund _ 5,894
Total current liabilities 289,441
Serial bonds payable (Exhibit 32) 14,097,000
Accrued Interest payable from Interest
and Redemption Fund 205,187
Surplus, per accompanying statement
(Exhibit 18)
Approprlattd:
Reserve for retirement of Electric
System bonds $1,708,713
j Unappropriated 2,955,999
i
Unrealizod increment in valuation of
utility plant in service (Note 1) 3,008,743
7,613,455
! Commitments (Note 3)
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Ma-1.6 $4.5 8.9
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E701IB1T l8
`i CITY OF DEN'CON, TEXAS
ELECTRIC SYSfEM
ANALYSIS OF CHANGES IN SURPLUS ACCOUNTS
FOR 1'RE YEAR ENDED SEPTEMBER 30, 1966
Appro iated svrQlus
Reserve for Unrealized
Reserve for Electric increment in
retirement System valuation
of Electric extensions of utility
System and Unappropprlated plan[ in
_bonds impro.aements __surplusservice
Balance, October 1, 1965 $1,605,489 $1:13,942 $2,459,186 $3,201,297
Net income for the year
(Exhibit 19) 542,311
Transfer to Fxttnsion and
lkprovement Fund 357,347 j 357,347)
Expenditures by Extension
and Impprovement Fund for
capital additions ( 491,289) 491,289
Equipment donated to Motor
Pool Fund ( 8,773)
Transfer of investment in
Service Center to General
Fixed Assets ( 29,839)
Transfers to Interest and
Redemption Fund of
funds segregated for:
Principal and reserve 613,950 ( 613,950)
Interest and handling
charges 495,068 ( 495,068)
Payments by Interest and
Redemption Fund:
Retirement of bonds
Interest and handling 502,000) 502,000
charges ( 503,794) 503,794
Payment to General Fund
representing return on
net investment in utility
systems ( 230,758)
Transfer to unappropriated
surplus of the excess of
depreciation provided
during the year on the
basis of appraised value
over depreciation calcu-
lated on the basis of
original cost (Note 1) - 192,554 ( 1923554)
Balance, September 30,
1966 (Exhibit 17) J1 708 711 0$2,953,999
3 OOR 743
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EXHIBIT 19
CITY OF DENTONs TEXAS
ELECTRIC SYSTEM
STATEMENT OF INCOME
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Actual
Estimated, over
per approved under
budget Actual estimate--
Income:-
Sales of electricity:
Customers $30100,000 $2,847,520 ($252,480)
Intergovernmental 80,000 99,026 19,026
Other 5,000 _ 16,460 _ 11,460
31185,000 - 2,963 006 221~994
Expenses: - - --L-_ )
Salaries and wages 222,034 185,692 ( 36,342)
Fuel. for electric production 558,650 567,529 8,879
Materials and supplies 39,408 31,033 ( 8,375)
Maintenance of facilities 83,220 92,602 91382
Insurance 262000 28,652 2,652
Administration 276,401 274,489 ( 10912)
Accounts written off } 6,315)
Loss from Working Capital ) )
Fund operations
(Exhibit 7) 30,260
Social security and retire-)
ment contributions 92,763 23,878 ) 18,890
Payment in settlement of )
suit arising from acci-
dental death of System )
employee ) 12,600
Other general expenses 389600
1,298,476 1,291,650 ( 61826)
Depreciation 761,158 761,158
j Bond interest and handling
charges 4951068 495,068
2x554, 702 _ 2, 5471876 _ 6s826
Net income from operations 630,298 415,130 (_2151168)
Interest from investment of:
Unrestricted funds of the
Electric System 55,228
Fxtension and improvement
i funds
Construction Bond funds ) l'' 00~ 7~'6~4 ) ( [2,819)
Interest and Redemption
funds il,069
Reserve funds _ 38,885
Net income for the year 127'181 ( 22,819)
(Exhibit 18)7e 542 311 0379987)
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EXHIBIT 20
CIT: OF DENTON, TEXAS
ELECTRIC SYSTEM
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1966
Note 1:
An appraisal of the municipal electric system, made as
of September 30, 1960, was based upon reconstruction cost new
for the electric plant in service, less depreciation, and reported
the n,2t value of the system to be $10,057,760 or $4,196,210 in
excess of the original cost less accumulated depreciation. The
excess of $4,196,210 was recorded in the accounts of the electric
system as an addition to utility plant in service as 9f September
30, 1960. Subsequent additions to the system have been rec-)rded
i at cost.
Depreciation expense in the amount of $761,158 was
provided and charged I_o income for the year ended September 30,
1966 on the basis of reproduction cost Tleta of t,;O SVStem as
determined by the above-described appraisal. Concurre,:tly
$192,551+ comprising the excess of depreciation provided in the
basis of reproduction cost new over depreciation calculated on
the basis of original cost of the system, was transferrec from
unrealized increment in valuation of utility plant in service to
unappropriated surplus.
i
Note 2:
Investments in U. S. Government securities at September
30, 1965 comprised the following:
Par Amortized
value cost
5% treasury bonds
159 1966 November
$ 800000 $ 791720
4-1/8% treasury bonds
matur!.ng November
15, 1973 45,000 44,756
X125,000 $124,476
Note 3:
As of September 30, 1966 contracts in progress will
require additional expenditure:, of approximately 9125,829 in
addition to $391,482 of retained percentage payable at September
30, 1966. The funds are to be provided from the Electric System
operating account as required.
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CITY OF DENTON. TEXAS
WATER AND SEWER SYSTEM
The Water and Sewer System accounts are kept on an
accrual basis. Water and sewer charges are billed to customers
monthly on a cycle billing basis. As a result of this method
of billing there will be, at any given date, a certain amount of
urnbilled service which has not been recognized in the accounts.
Since this situation exists from one year to the next, the net
effect on revenues for the period is minor.
Customers accounts receivable for water and sewer
service are carried by the Electric System Fund as a means of
facilitating accounting for collections. Each fund, however,
records its own share of ln,.ome frrm services and loss from
uncol.lectible accounts.
Effective February 1, 1960, an issue of water and
sewer improvement and extension revenue bonds was authorized
in the amount of $5,010,000. As of September 30, 1966,
$3,950,000 of the issue had been sold, including $1,000,000
sold during the year ending September 30, 1966.
Under the provisions of the applicable bond ordinance,
there
Reserveaiundrequired
Interestc~anddeposit
Redemption the Water
the and
amout Sewer
$241,383 at September 30, 1966. Cash and securities on deposit
plus amounts due from other funds totaled $245,212 at September
30, 1966.
The city charter adopted March 2, 1959 provides for
the annual payment to the General Fund from the excess revenues
of the utility systems, as defined in the charter, of an amount
not exceeding six percent of the City's net investment in the
J utility systems. During the year ended September 30, 1966,
the Water and Sewer System Fund paid $39,661 to the General
Fund in fulfillment of its obligation under this provision of
the charter.
Expenditures to extend and improve existing water and
sewer lines during the year amounted to $109,553. The balance
of the additions to the systems, $351,125, was for construction
of new water lines ($186,579), land acquisition ($15,000), and
Cooper Creek sewer construction x$149,546).
There were approximately 9,602 active water accounts
and 9,023 active sewer accounts at September 30, 1966.
The insurance carried on the Water and Sewer System
is described on page 57.
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CITY OF DENTON, TEXAS
WATER AND SEWER SYSTEM
Assets
Current assets:-
Ca s h
Cash in open time deposits and $ 235,270
savings and loan associations
Accrued interest receivable 470,000
Notes and accounts receivable, 5,651
miscellaneous
Less - Estimated uncollectible $ 9,931
note and accounts
Predaiu insurance 9 -0-
Due from General Fund 29320
Total current assets 41'895
Investment in Working Capital Fund 7559142
Water and Sewer Funds restricted under 13,277)
applicable bond ordinances:-
Construction Bond Fund:
Cash
1 Open time deposits $ 223,067
600,000
Cooper Creek Construction Fund: 823,067
Cash
Work in progress 14475,962
Less - Accounts payable '967
Contracts payable - t 171)
retained percentage
14,150)
Interest and Redemption Fund: 179,008
Cash
Open time deposits $ 324
Due from water and Sewer System 64,000
3184
Reserve Fund: 67,508
Cash
Deposits with savings and loan $ 3,704
associations
Open time deposits 200000
1---~00
At~nay plant in service at cost: 171,704
Water plant production and distri- $ 743351
bution facilities, less accumulated
depreciation of $2,068,907
Sewer system purification and collec- 3'460,419
tion facilities, less accumulated
depreciation of $1,815,072
_1,123,077
4,657,907
161647j059
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EXHIBIT 21
BALANCE SHEET
SEPTEMBER 30, 1966
k
Liabilities and Surplus
Current liabilities:-
Accounts payable $ 10,523
Due Lo Water and Sewer Interest
and Redemption Fund
-3,184
Total current liabilities 13,707
Serial bonds payable (Exhibit 33)
3,760,000
Accrued interest payable from Interest
and Redemption Fund 29,180
Surplus, per accompanying statement
(Exhibit 22):
Reserve for retirement of Water
and Sewer revenu- bonds $ 245,212
Unappropriated surplus 21598,960
2,844,172
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EXHIBIT 22
CITY OF DENTON, TEXAS
WATER AND SEWER SYSTEM
ANALYSIS OF CHANGES IN SURPLUS ACCOUNTS
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Reserve for
retirement
of Water
and Sewer
revenue Unappropriated
bonds surplus
Balance, October 1, 1965 $204,752 $2,737,178
Net loss for the year (Exhibit 23) ( 30,123)
Transfers to Interest and Redemption
Fund of funds segregated for: 108 543 ( 108,543)
Principal and reserve
Interest and handling charges 132,418 ( 132,418)
Payments by Interest and Redemption
Fund:
Retirement of bonds ( 75,000) 75,000
Interest and handling charges ( 1250501) 125,501
Funds received from federal grant 10,290
for sewer plant expansion
Contribution of investment in
Service Center to General Fixed ( 20,652)
j Assets
Equipment donated to Motor Pool
( 17,612)
Fund
Payment to General Fund represent-
ing return on net investment in ( 39,661)
utility systems
Balance, September 30, 1966
9-
(Exhibit 21) 12459212- 2 598j 60
60
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CITY OF DENTON, TEXAS EXHIBIT 23
WATER AND SEWER SYSTEM
STATEMENT OF INCOME
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Actual
Estimated, over
per approved (under)
budget Actual est'mate
Income:-
Sales of water:
Customers $ 680,000 $ 688,053 $ 8,053
Intergovernmental 9,000 89610 ( 390)
Sewer collections 245,000 245,927 927
Extension of services:
Water 438 438
Sewer 545 545
Taps to mains 35,000 21,103 13,897
Miscellaneous 5,000 2,544 2,456
974,000 967,220 ( 6,780
Expenses:
Salaries and wages 164,138 159,765 ( 4,373)
Materials and supplies 62,805 41,058 ( 20,947)
Maintenance of facilities 65,571 48,305 ( 17,266)
Power 57,500 45,778 ( 11,722)
Administrative and office
expense 102,153 101,184 ( 969)
Accounts written off ) 21057)
Social security and retire- ) )
ment contributions
12,996)
Loss from Working Capital Fund)) 42,581 39,511
operations (Exhibit 7) ) 260376)
Other general expenses } 409663)
494,748 478,982 { 159766)
Depreciation 418,263 4189263
Bond interest and handling
charges 132,418 132,418
_1 (
! a Net loss before special charges 2045,429 19029,663 15,766)
and other income ( 71,429) ( 62,443) 8,986
Special (charges) and other
income:-
Annual payment (until 1974) for
Garza Little Elm development ( 17,153) { 179153)
Interest income from invest-
ment of:
Unrestricted funds of the )
Water and Sewer System 199071
1 Construction bond funds ) 20,000 24,761 ) 31,584
Interest and redemption funds 10110
Reserve funds ) 6,642
Expenses, net of interest
income, related to issuance
of bonds _ 5,000 21111) ( 7,111)
Net loss for the year
(Exhibit 22) ("31582) 30,123) (33 459)
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CITY OF DENTON, TEXAS
GENERAL FIXED ASSETS
The general fixed asset accounts were established as
of October 1, 1963 to permit the accounting for the fixed
assets of the rminicipality other than those carried in the
Motor Pool Fund, Electric System, and Water and Sewer System.
Since detailed property records have not been maintained by
the city, the general fixed assets were recorded in the amount
of. (1) general obligation bonds issued for specific capital
expenditures in prior years, (2) capital expenditures from
curr^nt revenues of the General Fund, and (3) the fair market
► vague, at the time of receipt, of fixed assets received as
gifts. Assets acquired subsequent to October 1, 1963 have
been recorded at cost.
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EXHIBIT 24
CITY OF DENTON, TEXAS
STATEMENT OF GENERAL FIXED ASSETS
SEPTEMBER 30, 1966
General Fixed Assets
Land $ 608,711
Buildings 583,344
Improvements other than buildings
(Exhibits 25, 26 and 27) 3)0101986
$4,203,041
Investment in General Fixed Assets
From bonds $3,806,487
From current funds 331,064
From gifts _ 65,490
$42203,041
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EXHIBIT 25
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CITY OF DENTON, TEXAS
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS -
BY SOURCES
FOR THE YEAR ENDED SEPTEMBER 30, 1466
Improvements
other than
Total Land Buildings bu
ildings*
Balance, October 1,
1965 3 756 100 §$5162743 X4123387 L2,826,920
Add:
Expenditures from
Bond Funds 270,957 13101120,467 149,389
Expenditures from
General Fund 151,440 90,817 60,623
Gifts from Utility
Funds 50,490 50490
Total additions 4720887 91,918 __1701957 210,0]2
Deduct: Sale of -
Asset - 25,946 25,946
Balance, September
30, 1966 (Exhibit
243 5,4,203_k U41 Si608,711 X583,344 $3,010,986
*Includes machinery and equipment
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EXHIBIT 26
CITY OF DENTON, TEXAS
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS -
BY FUNCTIONS AND ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Balance Balance
October 1, September
1965 Additions Deductions 30, 1966
General government:-
Staff agencies:
Administrative
offices and
boards $ 765 $ 459 $ 11224
Finance 51026 2,251 7,277
Law 1,737 588 21325
Engineering 6,589 8,153 14,742
General govern-
ment buildings
and land 443,976 257,630 701,606
Utility account-
ing 266 _ 266
Total general
government _ 4_5_8_,093 269,347 _ 727,440
Public safety:
Police protection 2,645 1,328 3,973
Fire protection 134,892 7,387 142,279
Civil defense and
safety _ 941 941
Total public
safety 137,537 9,656 147,193
Streets and highways 2,542,350 182,549 259946 2,698,953
Sanitation and waste
removal 54,207 268 54,475
Health and hospitals 150,000 1509000
Libraries 50,000 50,000
Parks and recreation 260,465 9,366 269,831
Airport 103,448 I,701 _ 105,149
331609470 1939884 25,946 3,328,408
$3 ,756,100 472 887 25 946 $4,203,041
a~ (Exhibit 24)
39 -
CITY OF DENTON, TEXAS EXHIBIT 27
STATEMENT OF GENERAL FIXED ASSETS -
BY FUNCTIONS AND ACTIVITIES
SEPTEMBER 30, 1966
Improvements
other than
Total _ Land Buildin s buildings*
General government:-
Staff agencies:
Administrative
offices and
boards $ 11224 $ 1,224
Finance 7,277 79277
Law 2,325 2,325
Engineering 14,742 14,742
General govern-
ment buildings
and land 7012606 422,383 279,223
Utility account-
ing _ 2_6_6_ 266
Total general
government _ 7271440 422,383 279,223 25,834
Public safety:
Police protection 3,973 3,973
Fire protection 142,279 19,849 78,136 44,294
Civil. defense and
safety 941 i 941
Total public
safety 147,193 19,849 _ 78,136 49,208
streets and highways 2,698,953 2,698,953
Sanitation and waste
removal 54,475 18,479 359996
Health and hospitals 1502000 150,000
t Libraries 50,000 50,000
Parks and recreation 269,831 83,000 41660 182,171
Airport 105,149 65,000 21,325 _ 18,824
32328,408 166,479 2253985 22935,944
Exhibit 24 4 203,041 608 711 583 344
*Includes machinery and equipment
- 40 -
CITY OF DENTON, TEXAS
GENERAL BONDED DEBT AND INTEREST GROUP
AND
DEBT RETIREMENT FUND
The General Bonded Debt and interest Group was estab-
lished to account for that bonded debt which is not a liability
of any given fund.
The Debt Retirement Fund was established to account for
the receipt and disbursement of all contributions to the fund for
the servicing of general bonded debt and interest thereon.
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EX11IBIT 28
CITY OF DENTON, TEXAS
STATEMENT OF GENERAL BONDED DEBT AND INTEREST J
SEPTEMBER 30, 1966 J
Assets
Amount to be provided for retirement
of general bonds and obligations, $5,059,223
per accompanying schedule (Exhibit 29) S5 099,223
Liabilities
Serial bonds and warrants payable $3,847,000
(Exhibits 32 and 33) 1 252,223
Interest payable in future years (Exhibit 34) $ 0599223
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EXHIBIT 29
CITY OF DENTON, TEXAS
, AMOUNT TO BE PROVIDED FOR RETIREMENT
OF GENERAI. BONDED DEBT AND INTEREST
SEPTEMBER 30, 1966
i
Balance, October 1, 1965 $3,9273844
Add bonds issued during the year:
Principal $1,000,000
Interest 419,094
1,419,094
Deduct:
Principal amount of bonds and <
warrants retired $ 152,000
Interest paid on bonds and
warrants 95,715 41
247,715
Balance, September 30, 1966
(Exhibit 28) 5 0992223
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EXHIBIT 30
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CIT'E' OF DENTON, I'FXAS
DEBT RETIREMENT FUND
BALANCE SHEET
SEPTEMBER 30, 1966
Assets
Cash 1311
311 1•
Liabilities
Due to General Fund $2,944
Fund balance (deficit)* ( 2,633)
311
*The fund deficit resulted from the payment during the year !
ended September 30, 1966 of principal and interest in
excess of tax proceeds transferred from the General Fund.
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EXHIBIT 31
CITY OF DENTON, TEXAS
DEBT RETIREMENT FUND
STATEMENT OF CASH RECEIPTS AND DISBURSDU NTS
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Cash balance, October 1, 1965 $ 19,321
Receipts:
Tax proceeds transferred from
General Fund $224,328
Ainount due from General Fund
at September 30, 1965 19148
Interest earned 588
Advance from General Fund 2,944
229,008
248,329
i
i
Disbursements:
j Bonds and warrants retired $1520000
Interest paid on bonds and
warrants 95,715
Paying agents fees 303
2481018)
Cash balance, September 30, 1966 311
Uk~
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C1rY Of UFN'fON, 'CKVV%s
CofTINFb IWAN(F SHEF.r
/
SEPTEMULR 30, 19b(
Working Motor
General Capital Pcol
Assets _ Toge ther Fund Fund Fund
Cash $ 618,153 $ 225 $ 85,099
Temporary cash investments 3,165,098 +20,000 100,000
Accounts receivable, less estimated
uncollectible accounts 357,431 1,835 S 511
Duc from otter funds 276,707 7,01'
Inventories of materials and supplies 232,195 232,195
Restricted cash and investments 5,847,920 J
Deposits and advance payments 80,716 73,352 250
Fixed assets 35,191,694 888,875
Less - Accumulated depreciation ( 9,987,750) ( 456,216)
investments in and advances to otner funds 171,560 ( 1,063,
Amount to be provided for retirement of
debt and interest 5,099,223
Unissued bonds and warrants 1,385,000
;42_L3~947 'u50'i1418 2326 Q1b 7 758
=L95~
Liabilities and Surplus
Accounts payable $ 218,761 $ 24,655 $ 61,396 $ 919
Accrued liabilities 14,981
Due to other funds 216,107 126,133
Customers deposits and assessments paid
in advance 1'1,710
Bonds payable 21,764,00
Accrued interest able 234,36)
+ Interest payable inyfuture years 1,252,223
i investment by and advance from other funds 171,560 171,560
Reserve for encumbrances 423,659 15,045
Appropriations and fund balances 2,854,605 5,167 616,839
Surplus:
investment in fixed assets 4,203,041
Reserve for interest and bond
requirements 1,953,925
i~ Unappropri&ted 5,938,355 330,418
Unrealized increment in valuation of
electric plant is service 3,008,743
~542~ 3947 L50~418 232 956 bI$ 7,75g
,
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EXHIBIT 32
Trust
General Agency
Bonded Special and
Nbt Debt and Assessment Miscel- Water and General
Retirement Interest and laneous Electric Sewer Fixed
ELnd -Group,___ Bond Funds Elands _ System System Asaety
$ 311 $ 151,715 $ 4,378 $ 141,155 $ 235,270
1,011,000 96,098 1,068,000 470,000
3,686 345,612 5,657
84,738 140,',11 45,079
4,603,817 1,244,103
4,794 2,320
21,557,$92 8,541,686 $4,203,041
( 5,647,555) ( 3,883,979)
185,900 ( 13,277)
$5,099,223
1,385,000
311 ~~011 23 52,63953 X04,162 2$ 2,400L066 X6_1647,059 4203,041
I
$ 24,986 $ 96,282 $ 10,523
$1,944 14,981
$ 4,075 140,371 3,184
172,790
$3,847,000 14,097,000 3,760,000
1,252,223 205,187 29,180
408,644
( 2,633) 2,145,345 100,087
$4.203,041
1,708,713 245,212
52,978 2,955,999 2,598,960
3,008,743
311 S 099 223 2 631 953 104,162 ;221400t06 6 5L6A641~ 3 9 34,203,041
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(Ily OF bh5'rVN, 1'F..~.AS
STA:SMENT OF BONUS PAYARIL
SEP1'[XKR J0, 1966
Date of
Issur Rate of
Dcscr_iption series Interest _Issue_ Matur_ty
Cenert.l Debt and Interest Fund:
Br[dge Construction 1927 5% 1-1-27 1-1-67
City Hall 1927 5% 1-1-27 1-1-67
Fire Station 1929 5% 7-1-27 7-1-69
Park Imptuvement 1929 57 7-1-29 7.1-69
Street improvement 1929 55; 7-1-29 1-1-69
Library 191,17 2 1127 11-1-41 5-1-69
Street improvement 1948 3 1/47 3-1-48 3-1-7L
Hospital 1948 2 3/4 - 3 1/4% 3-1-48 3-1-67
Street Improvement 1960 3 1/2 - 57 7-15-60 7-15-85)
Street Improvement 1962 3 - 3.457, 3-15-62 3-15-87
Central Obligation 1963 2 112 - 3 1/41. 3-15-63 3-15-88
Central Obligation 1964 3.2 - 57 7-15-65 7-15-82
Street and Drainage 1964 3.2 - 57 7-15-64 7-15-82
Civic Center Tax Warrants 1963 2 3/4 - 2.657 4-15-63 4-15-76
Park Tmprow3ment 1964 3.2 - 5% 7-15-64 7-15-82
Central Obligation 1966 3.5 - 57 1-15-66 7-15-86
Electric System Fund:
Electric Revenue 1954 2 3/4 - 3 1127 11-1-54 11-1-64)
Electric Revenue 1955 2 3/4 - 3 1/27, 5-1-55 11-1-85)
Electric Revenue 1955E 2 3/4 - 37 11-1-55 11-1-85
Electric Revenue 1961 3 3/4 - 5 1127 11-1-61 11-1-90
Electric Revenue 1965 .005 - 5% 2-1.65 11-1-84
Water and Sewer Fund:
Water and Sewer Revenue 1960 4 - 57 7-15-60 7-15-S0)
Water and Sewer Revenue 1962 2 3/4 - 3 1/57. 7-15-62 7-15-90
Water and Sewer Revenue 1964 3.4 - 1-15-64 7-15-84
Water and Sewer Revenue 1966 3.5 - 4 li.,. 1-15-66 7-15-86
Total bonds payable
(3) Comprises:
(1) Comprises: Street Improvement $ 600,000
Street Improvement $2,165,000 Fire Station 50,000
Fire Station 85,000 Public Library 100,000
Public Library 100,000 Airport 50,000
Airport 50,000 Total ` 800,
Total C50000 S 000
(4) Comprises:
(2) Comprises: Street Improvement $ 235,000
Street Improvement $ 465,000 Street and Drainage 65,000
Fire Station 35,000 City Hall 350,000
Total 500 000 Community Building _ 350,000
48 Total ZS 1, 000,000
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RXHIBIT 33
Sinking Fund________
Excess
or
Auth(rired _J Issued CLtstandln~ Required Actuel SOefiei~
$ 25.000 S 25,000 $ 1,000
100,000 100,000 3,000
30,000 30,000 4,000
1 18,000 18,000 3,000
37,000 37,000 6,000
50,000 50,000 50,000
150,000 150,000 150,000
150,000 15'),000 45,000
600,000 475,000
500,000 420000
2,400,000(1) 5
00 000(2) 440,000
800,000(3) 780,000
1,385,000
305,000 305,000 290,000
200,000 200,000 180,000
o 11000,000{4) _ 1,ooa,09o
1,000,00
~ L8501000 4,465,000 31847,000
( 4,287,000 3,175,000 $151,316
7,037,000 ( 1,350,000 1,009,000 48,753 (Sae Rote)
( 1:387,000 1,048,000 49,718
5,200,000 5.200,000 5,115,000 150,603
_4,_000,000 410001000 3,750,000 285,803
16,237,000 16,224 14,097,000 t686 i393 70J 231 L0~844
( 1,700.000 1,620,000 $ 26,540 $ 26,540
5,010,000 ( 1,000,000 920,000 13,783 13,783
l 250,000 220,000 5,550 5,550
v_ _ ( 1,000,000 -1-1-00 1000 21,635 _ 21,635
5,010,000 3,950,000 _ 3,760,000 67,508 j 67,508
7L 0q 7., L2a 39,00021i04,000
NOSE: receivable)o at September 30sinking 1966 fund includeisamounts
to client's funding of estimated paying agent's fees and a
$?0,000 contingency reserve and cier M be readily related to individual
isaUea of the respective funds.
{
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CITY OF PFNToS, Ti F.AS
FUTURE DEBT hF.Vt'1 kfS`[i:Nl'S
BASED ON BOND INDEBTEDNESS AS OF SEPTEKBER 30, 1960
General Bonded Debt and Interest Elecrric System Fund _
Pisc41
Year Principal Interest Total Principal in tere ETotal
1966-67 $ 153,000 $ 143,643 $ 296,643 $ 525,000 $ 481,455 $ 1,006,455
1967-68 189,000 120,189 309,169 532,000 459,320 991,320
1968-69 195,000 113,381 308,381 542,000 436,831 978,831
1969-70 200,000 106,015 306,015 550,000 414,025 964,025
1970.71 205,000 99,464 304,464 563,000 390,755 953,755
1971-72 230,000 92,925 322,925 545,000 368,786 913,786
1972-73 235,000 85,583 320,583 507,000 350,783 857,793
1973-74 240,000 78,267 318,267 519,000 335,014 854,014
19)5-75 240,000 70,185 310,785 526,000 319,069 845,069
1975-76 240,000 63,277 303,277 540,000 302,802 842,802
1976-77 200,000 55,673 255,673 552,000 286,123 838,123
1977-78 200,000 49,185 249,185 564,000 269,059 633,054
1978-79 200,000 42,685 242,665 578,000 251,495 829,445
1979-60 195,000 36,110 231,110 590,000 233,291 823,241
1980-81 195,000 29,673 224,673 604,000 214,530 818,530
1981-82 195,000 23,180 218,180 616,000 195,276 811,276
` 1982-83 125,000 16,651 141,651 630,000 175,592 805,592
1983.84 125,000 12,315 137,315 644,000 155,519 799,519
1984-B5 125,000 7,972 132,972 665,000 137,654 800,654
198546 100,000 3,630 103,630 497,000 120,912 617,912
1986-87 40,000 1,295 41,295 515,000 101,842 616,842
1997-88 20,000 325 20,325 540,000 81,000 621,000
1988.89 560,000 59,000 619,000
1989-90 585,000 36,100 621,100
1990-91 610,000 _ 12,200 _ 622,200
3,847,000 ~51,252t223 5j099,223 X14,047,000 ~C6 88 433 S20tL8544 3
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_Water_a_n_dSFw_r_ Syet6:m Fund
prlnctpal_ -Interest- -Total _Prir_ctQ*~1 Interest -Total
165,150 $ 1,573,160
$ 13,000 $ 140,062 $ 270,062 $ 808,000 $ 713,822 1,564,822
130,000 134 31) 264,313 851,0(i0
135,000 12&,862 263,662 872,ODO 679,074 1,551,074
140,000 123,163 263,163 890,000 543,203 1,533,203
140,000 117,650 257,650 908,000 $07,869 1,515,869 145,000 112,500 251,500 920,000 574,211 1,494,211
145,000 107.500 252,500 887,000 543,666 1,430,866
150,000 102,300 252,500 909,000 4515,781 1,424,781
87,154 1,403,154
150,000 97,300 247,300 916,000
155,000 42,075 247,075 935,000 458,154 1,393,154
428,323 1,335,323
155,000 86,527 2+61,527 907,000
160,000 80,930 240,930 924,000 399,174 1,313,174
165,000 75,133 240,137 943,000 369,313 1,312,313
170,000 69,161 239,167 955,000 338,568 1,293,569
170,000 62,993 232,993 469,000 307,196 1,278,196
k80,000 56,767 236,767 991,000 275,223 1,266,223
935,00 242,418 1,177,416
180,000 50,175 230,175
185,000 43,518 228,578 954,000 211,412 1,165,412
I
180,000 36,180 216,780 468,000 182,406 1,150,406
185,000 30,100 215,100 782,000 154,642 936,642
145,000 23,220 168,220 700,000 126,357 826,357
150,000 17,720 167,720 710,000 99,045 809,045
155,000 11,995 166,995 715,000 70,995 785,995
160,000 6,097 166,097 745,000 42,197 787,191
- 610,000 _ 121200 622,200
J, 7601000 807.107Si56-1910_1 ^L2 1,704i000 9 2763 30 4,51.763
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EXHIBIT 35
CITY OF DENTON, TEXAS
ST'ATEME:iT OF APPROPRIATIONS, EXPENDITURES AND ENCUMBRANCES
FOR THE YEAR ENDED SEPTEt•:L5ER 30, 1966 r
Expenditures
Appro- and Unencumbered
rp iations Encumbrances Balance
General government:
Salaries and wages $38 868 $35,482 $ 3,386
Supplies 3,000 31028 28
Maintenance 135500 1,822 322
Equipment rental 636 636
Other services 18,000 21,733 ( 3,733)
Capital outlay 1 000 486 _ 514
X63,004 63 1.87 q 183)
1 Finance office:
Salaries and wages $46,075 $41,161 $ 4,914
Supplies 3,171 2,829 342
Maintenance 850 13198 ( 34,$)
Other services 15,000 7,829 7,171
Capital outlay 30000 2,251 749
68 09655268 512 828
r Finance - Tax department:
Salaries and wages $19,953 $20,073 120)
Supplies 2 697
Maintenance ,600 1,026 r 426
Other services 1,500 l'771 271
Equipment rental 600 630 30
X25,615 25 765 ( 150)
Finance Utility Utility accounting:
Salaries and wages $63s954 $64,989 1,035)
Supplies 11,700 119162 538
Maintenance 4000 3,133 1,167
l Other services 71500 93459 1 959
Capital outlay 210 266 56~
Equipment rental 1,200 1,200
88 864 $90,209 ( 11345
)
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EXHIBIT 35
(Continued)
CITY OF DEN'ION, TEXAS
STATEMENT OF APPROPRIATIONS, EXPENDITURES AND ENCLrKBRANCES
FOR THE YEAR ENDED SEPTE143ER 30, 1966
Expenditures
Appru- and Unencumbered
12riations Encumbrances Balance
Legal department:
Salaries and wages $?1,806 $21,391 $ 415
Supplies 1,000 770 230
Maintenance 300 44
Other services 71850 5,756 210256
94
Capital outlay _ 600 588 12
1531,556 28,549 3,007
Health and sanitation -
inspection:
Salaries and wages $ 4,956 $ 4,956
Supplies 1,100 195 $ 905
Maintenance 200 162 38
Equipment rental 300 300
Other services 3 500 5,755 ( 2,255)
S10,056 X11,368 312)
Health and sanitation - garbage
collection;
Salaries and wages $107 047
Supplies $108,956 1,832
Maintenance 13,780 12,948 832
Equipment rental 13,500 27,852 ( k4,352)
Other services 1,20 0 19,555 1,6 10 4
Capital outlay 1
Y 8 8, 66117 7 _ 2b8 _8,324
349 1
$170,024 180 403 10`379}
Health and sanitation -
garbage disposal:
Salaries and wages $13,197 $13,028 $ 169
Supplies 1,600 800
Maintenance 801
Equipment rental 5,400 6,000 1'918
l Other services ( 1 600)
Capital outlay ,750 1,055 445
750
29 947 26L465 3 482
- 5 3 -
EXHIBIT 35
(Continued)
CITY OF DENTON, TEXAS /
~ STATEMENT OF APPROPRIATIONS, EXPENDITURES AND ENCUMBRANCES 7
FOR THE YEAR ENDED SFPTEMBER 30, 1966
Expenditures
Appro- and Unencumbered
rp iations Encumbrances_ Balance _
Civil defense and safety: i
Salaries and wages $ 6,234 $ 4,388 $ 1,846
Supplies 500 858 ( 358)
Maintenance 100 368 ( 268)
Equipment rental 600 250 350
Other services 10000 10416 ( 416)
Capital outlay 3,000 941 _2105
9
' ~11,434 L8221 t3 213
Police department:
Salaries and wages $171,057 $175,174 $ 49117)
Supplies 17,625 18,034 409
Maintenance 14,195 17,018 2,823
Equipment rental 12,600 13,690 1,090
Other services 57,360 53319
Capital outlay .1,280 51,0328 48)
f 274117 X77 285
3,168)
Fire department:
Salaries and wages $149,556 $146,364 $ 3,192
Supplies 6,153 6,366 211
Maintenance 5,790 6,934 10144
Equipment rcntal 11 / 330
6U 11,790
Other services 19p575 20,634 1,059
Capital outlay 3,779 4,218 439
19623_15 196 306
Street department:
Salaries and wages $ 83,432 $ 77.320 $ 6,112
Supplies 6,200 ~♦,osl 431
Maintenance 75,000 1 971
Equipment rental 35,00: l t8 1,188
Other services 25,368 4,556
Capital outlay 25,000 x,64 ( 9,664)
L2r0,00O '251 5586 1 586)
54 -
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EXHIBIT 35
(Continued)
CITY OF DENTON, TEXAS
STATEMENT OF APPROPRIATIONS, EXPENDITURES AND ENCU.!M RANCES
FOR THE YEAR ENDED SEPTEMBER 309 1966
Expenditures
Appro- and Unencumbered
Liiations Encumbrances Balance
En3ineer<ng and drafting: 1
Salaries and wages $ 643849 $ 61,348 3,50 $
Supplies 2,660 32007 ( 347)
Maintenance 9,143 71085 2 40
Equipment rental 21880 2,920 933
Other services 7,500 8,433
Capital outlay 28,860 201526 61:34
116, 492 103 319 _,=1317_3
Parks and recreation depart-
rent - director and parks: 63b)
Salaries and wages $43,642 $45,417 19
Supplies 3,055 29419 4
401
Maint ,636
Maintenance 39258 71659
inten rental 1,844 4,636 2,792
other services 69000 100976 4,976
Capital outlay 7,500 8,614 ~IL114)
J65,299 $79,721 (L4 422.) a
Parks and recreation depart- j
ment - swimming pool i
Salaries and wages $ 6,208 $ 79718 1051 ) !
Supplies 29540 1,778 762
Maintenance 900 10203 2 1303
96;
Other services 11625 __31 8 2.1 : _
111273 _1520 3,247) '
Parks and recreation depart-
ment - other activities:
Salaries and wages $ 81100 $ 7,576 $ 524
Sup lies 1,576 1,461 115
Other services 550 10101 ( 551)
Capital outlay 600 170 430
10 826 10 308 51188
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EXH31T 35
(Continued)
CITY OF DENTON, TEXAS
STATE1a_7NT OF APPROPRIATIONS, EXPENDITURES AND ENCUMBRANCES
FOR THE YEAR ENDED SEPTEMBER 30, 1966
Expenditures
Apppro- and Unencumbered
priations Encumbrances Balance
Cemetary department:
Salaries and wages $7,264 $ 6,589 $ 675
Supplies 3,401 1,:172 1,829
Maintenance 2,259 3,557 ( 10298)
Equipment rental 1,844 4,636 2,792))
Other services 800 970 170
15 568 X17.324 1j756~)
Contribution to Flow Memorial
Hospital $ 129500 $ 12,500
Insurance 13,000 12,110 $ 880
Uncollectible accounts
written off 628 ( 628)
Loss from Working Capital
Fund 20111 ( 29111)
Purchase and sale of pro.-
perty - net 30,000 1750055 ( 1459055)
Cost of equipment contri-
buted to Motor Pool Fund 130252 132252
Miscellaneous expenditures 91379 91379
55 500 225 045 ( 169 545)
Total (Exhibit 3) ~1 493,986 1 6,$ 64,849_ ( 170 863)
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I
EXHIBIT 36
CITY OF DENTON, TEXAS
INSURANCE COVERAGE, SEPTEMBER 30, 1966
Limits of Date of Name of
Description of covers a covera&e expiration insur_er
Electric System and Water and
Sewer System:
Fire an _ a ended coverage
Electric pint building
and contests, and Water
and Sewer plant build-
inp and contents (in- Commercial
cluding machinery and Insurance
equipment) $81226,000 10-1-70 Company
General boiler and
mac TiUery -
Steam power plant and
filtration ple,.t $2,000,000 10-1-67 The Travelers
Diesel power plant $ 5000000 10-1-67 Indemnity
Oth'_r electric and water Company
facilities $ 215,000 10-1-67
Compreh~ens~ive~ general and
autt6 aSiIit
BoaiTy n ury $ 509000/
19000,000 9-10-67 Gulf
Property damage $ 51000/ Insurance
25,000 9-10-67 Company
General Government:
Fire and-extenTJd envera"e_
`-Mun c paTbuil ngs and Commercial
contents (excluding Insurance
utility plants) $ 834,000 10-1-70 Company
R~o_be__ry -
d -Insie premises 2,000 12-18-66 Gulf
Outside premises 10665 12-18-66 Insurance
t Company
• Faithful performance bond -
! qty manager $ 759000 10-1-69
Finance Director $ 75,000 10-1-69 The Home
Tax Assessor and Collector until Insurance
l 10,000 cancelled Company
~J Each employee 20500 10-1-69
Volunteer firemen coves e -
Weekly accident gillf $ 40 10-7-67 U. S. Fire
Accidental death and Insurance
disability $ 41000 10-7-67 Company
Comprehensiveener~al. and
auto Ii-ability -
Bo3iTy-in ury $ 501000/
1,000,000 9-10-67 Gulf
Property damage $ 5,000/ Insurance
25,000 9-10-67 Company
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EXHIBIT 37
CITY OF DENTON, TEXAS
STATISTICAL DATA
AS OF SEPTEMBER 301 1966
Area of city 22.76 square miles
Date of incorporation September 26, 1866
Form of government Council - Manager
Total city employees (exclusive
of Police and Fire Departments) 236
Fire protection Number of fire stations - 4
Number of employees - 42 +
00
Police protection Number of employees - 34
1966 Y 1965 1964 1963 _ 1962
Estimated population 36,000 32,998 32,082 30,117 28,240
Tax rate - per $100
valuation $1.50 $1.50 $1.50 $1.50 $1.50
Total valuation $58,658,875 $52,472,105 $48,547,600 $439336,240 $39,946,870
Electric production
(kwh) 179,534,114 159,61O,820 1429649,120 128,448,600 106129333CO 1
Water production (LOO
gallons pumped) 15,074,560 14,890,107 1405840827 14,2820100 11,4661900 1
~ Electric customers 10,586 92958 9,894 91644 91416
r Water customers 9,602 9,317 9,209 8,995 3,G1
General Fund revenue $1,504,474 $1,390,366 $1,222,885 $190809:67 $9699857
General Fund
expenditures $19664,849 $1,244,503 $1,058,338 $9620171 $889,172