HomeMy WebLinkAbout1969-1970
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City Of Denton, 0,111mii'imil Bnilding,"Dento7z kmi76201 '
a December 17, 1970
Mr. Jim White
City Maliagcr
City of Denton
Denton, 'texas
Dear Mr. White;
The arnual Financial Report of the City of Denton, Texas for the fiscal year ended
Septe, )er 30, 1970 is submitted herewith.
Accounting Svstem and Reports
The city's accounting records for general governmental operations are maintained
on a modified cash basis, with the most important revenues tieing recorded when
earned and expenditures being recorded when incurred. An exception to this is
the accounting for taxes as this is on the accrual basis. Accounting records for
the city's utilities and other enterprises are maintained on a full accrual basis.
Budgetary control is maintained by a quarterly allotment system and the encumbrance
of allotment balances with purchase orders prior to their release to vendors.
Purchase orders which exceed allotment balances are not released until additional
appropriations are made available.
I4 The Municipal Finance Officers Association of the United States and Car is awarded
the City of Denton, Texas its Certificate of Conformance for the city's 1964-65
Annual Financial Report. This certificate is awarded onli to those governmental
l i units whose financial reports SLbstarntiaily conform with the high standards of
financial reporting promulgated by the National Committee on Governmental
" Accounting. The 3969-70 Annual Financial Report submitted herewith continues
to meet these standards.
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General Governmental Functioas
`Fe Revenues for general governmental functions totaled $1,750,594 in 1.969-70, an
increase of 5.3 psrcent over 1968-69. General property taxes produced 27.8
11 percent of general revenues compared to 32.4 percent last year, The amount of
! revenue from various sources and the increase over last year are shown in the
r following tabulation;
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Mr, Jim White _2
December 17, 1970
Ir.ccease
Rcenue Source Amount Percent Over 1968.69
(Thousands) of Total -(Thousands) f
Property Taxes and Penalties 486
Franchise and Other.Taxes 16'9 {53)
22.1 43
Licenses and Perm
Fines, Forfeits, and Penalties ,9 2
Charges for Current Services 158 5.5 12
Utility Fund Contributions 313 I0.9 35
Other Revenues 812 2P,2 97
444 15.5 84
$2,875 100,0 $220
Assessed Valuations of 71 million represented an increase of
preceding year, 6.0 percent over the
,
The ratio of total collections (current and delinquent) to the current tax levy
for 1969-70 was 100.39 percent,
The constitutional and statutory tax rate limit, including debt service, is $2,50
on each $100,00 of assessed valuation. The tax rate disbribut ton for 1969-70 and
the preceding two fiscal years is as follows:
Purpose 1969-70 1968-69 1967-68
General Fund .6501
Interest and Redemption Fund .8145 ,9525
.8499 ,6855 ,5475
Total Tax Rate 1,5000 1,5000
1,5000
Expenditures for general governmental purposes totaled 53,024,464 an increase of
22.2 percent over 1968-69. Increases in levels of expenditures for mayor functions
of the city over the preceding year are shown in the following tabulation:
Amovnt Increas
Function Percent Over 1967-68
(Thousands) of Total (Thousands)
General Government
Legal 101 6,3 50
Community Development 86 2.8 10
Civil Defense 1:5 6.0 19
Right of Way 11 •8 0
Finance 309 11 •2 11 ,
Health & Sanitation 10.2 13
Police 350 11,6 14
Fire 550 18,2 66
Street Development 407 13.5 70
Parks & Recreation 279 4,2 422 19.2 136
Cemetary 49
Library 22 65 .1 8
Airport 2.1 18
City-County Health Unit 3 1,3 38
r Non-Departmental 26 6 •9 26
Other 62 2,0 34
3,024 - (5)
100,0 549
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Mr. Jim White -3- December 17, 1970
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Debt Administration
The ratio of net bonded debt to assessed valuation and the amount of bonded debt
per capita are useful indicators of the city's debt position to municipal
management, citizens, and investors. These data for the City of Danton at the
end of the 1969-10 fiscal year were as follows:
1969-70 Actual Valuation $177,690,090
1969-70 Assessed Valuation (40'7 of Actual) 71,076,036
Total General Obligation Debt 6,937,000
Less: Amount Available in Debt Service (25,336)
Net Debt i1, 614
Ratio Net Debt to Assessed Valuation 9.72%
1970 Estimated Population 38,865
Per Capita Assessed Valuation 1,829
Per Capita Net Debt 178
During the past year, $346,000 of tax bonds were retired. On September 22, 1970,
$1,000,000 of general obligation bonds were sold at a favorable effective interest
rate of 5.7627.
Outstanding Electric Revenue Bonds at September 30, 1970 totaled $16,398,000.
During the past year $600,000 of Electric Revenue Bonds were retired. On
September 22, 1970, $3,500,000 of Electric Revenue Bonds were sold at a favorable
effective interest rate of 5.9514.
Outstanding Water & Sewer Revenue Bonds at September 30, 1970 totaled $4,265,000.
During the past year $160,000 of Water and Sewer P.evenue Bonds were retired.
The city's bonds are rated as follows:
_ Moody's Standard & Poor's
General Obligation Bonds A-1 AA
Electric Revenue Bonds A AA
Water & Sewer Revenue Bonds A A
As of September 30, 1970, $1,126,104 was on hand in the electric reserve fund and
the sum of $370,586 was on hand in the water and sewer reserve fund which are more
than the amounts specified In the bond ordinance as being required for both funds.
Cash temporarily idle during the year was invested in time deposits, savings
accounts, U. S. Treasuty Notes and Bonds.
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P1r. ,fim White -4- December 17, 1970
; v i t a l P roiecte Funds
During Ire ai star tnding ,s ptem!,er 30, 1970, the proceeds from general
obi igation ha nd issues a:eniutted f r expenditures of $1,406,964 in street capital
project;. Water and n„wer c-vrnuc hoed Issues accounted for expenditures of
$687,460 in waccr & sewer capital projects and electrical revenue bond issues / t
accounted for exprnditur?s of $113,978 in electrical capital projects. Extension
and inprocemrr.t funds in the amount of $398,582 were expended for electrical capital
projects.
AuLhortzcd but unissued bond, at September 30, 1970 totaled $Iu,500,000 as follows;
Revenue (•le.tric) $10,500,000.
Capital project funO balances on hand at September 30, 1970 consisted of $531,011
in cash, and $175,000 in open time deposits,
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General Fixed Assets
The general fixed assets are those fixed assets used in the performance of general
governmental functions and exclude the fixed assets of utility and other enterprise
funds. As of September 30, 1970, the general fixed assets of the city amounted to
$9,631,289. This amount represents the original cost of the assets and is +
considerably less than their present value. Depreciation of general fixed assets
is not recognized in the city's accounting system,
Utilities System
The city's electric and water and sewer system had a successful year and continued
to show g-iins it gross sales, number of customers and net income. Comparative
data f..r the past too fiscal years are presented in the following tabulation..
Electric System
~ - Gross Income 1.970 1469 ~
Net Income $4,591,880 $4,001,273
Income Available for Debt Service $1,304,057 $1,170,311
Average Annuai Deht Service Requirements $2,489,450 $2,270,765
Debt Service Coverage 1.,84 84 $1,353, $ 888,2.55
.55
j Water & Sewer System
Gross Income 1970 1969
J Not Income $1,307,051 $10107,562
Income Avatlable f,r Deht cercl-e $ 82,112 $ 150,562
Average Annual Debt Strrice Requirements $ 682,565 $ 563,058
Debt Service Coverage $ 360,475 $ 309,533
1.89 1.82
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Fir. Jim White -5- December 17, 1970
n
In, City CKatt r rcqulr an snn,al audit to be made of the books of account,
financial record;, and transactions of all administrative departments of the city
by a Certifl.d Public Accountant selected by the City Council. This requirement
has Ken complied with and the auditor's opinion has been included in this report.
The preparation of this report on a timely basis could not be accomplished
without the efficient and dedicated services of the entire Q aff of the Finance
Department, I should like to express my appreciation to all members of the
department who assisted and contributed to its preparation. I should also like
to thank your office and the members of the City Council for their interest and
support in planning and conducting the financial operations jf'the city in a
responsible and progressive manner,
Respectfully submitted,
W. H. BRYAN
Director of Finance
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AUDITED FINANCIAL STATEMENTS A`1D OTHER FINANCIAL INFORMATION
CITY OF DENTON, TEXAS
September 30, 1970
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CONIENI'S
EXHIBIT AL'D1T::D FINAMIAL STATEMLNTS
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Accountants' Report Page 4
A Condensed Balance Sheets - All Funds 6
k General Fund:
B Balance Sheet 8
B-1 Analysis of Changes in Fund Balance 9
B-2 Sunnnary of Revenues and Expenditures and Encumbrances 10
EleeLrlc System Fund:
C Balance Sheet C-1 Analysis of Changes in Reserves, Unrealized Increment,
Contributions and Retained-Earnings Balances 13
C-2 Statement of Operations 15
Water and Sewer System Fund:
D Balance Sheet 16
D-1 Analysis of Changes in Reserves, Contributions,
and Retained-Earnings Balances 18
D-2 Statement of Op,2rations 20
General Debt Service Fund:
E Balance Sheet 21
F-1 Statement of Revenue, Expenditures and Fund Balance 22
Intragovernmental Service Funds:
F Balance Sheet 23
•r-1 Analysts of Changes in Fund Balances Y4
• F-2 Statement of Operations 25
Capital Projects:
G Balance Sheet 26
C-1 Analysis of Changes in Reserves for Expenditures 27
Special Revenue, Trust and Agency Funds: j
H Balance Sheet 28
[ Statement of General Fixed Assets 29
i Statement of General Debt 30
K Notes to Financial Statements 31
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CONrENIS - CONT'D
SCffDL'I_E OTHER FINANCIAL INFORMATION
- Accountants' Report on Other Financial Information Page 33
1 Bonds Payable - All Funds 34
li Future Debt Requirements - All Funds 36
General Fund:
III Estimated and Actual Revenue 38
IV Appropriations and Expenditures and Encumbrances 40
- Electric System Fut.d:
V Estimated and Actual Revenue 45
VI Appropriations and Expenditures and Encumbrances 46
Water and Sewer System Fund;
VII Estimated and Actt 1 Revenue 47
VIII Appropriations and Expenditures and Encumbrances 48
IX Revenue Bond Debt Coverage 50
X Investments - All Funds 51
TAPLE STATISTICAL TABLES
1 Insurance in Force 53
it Assessed Valuations and Tax Assessed -
Ten Years Ended September 30, 1970 55
. III Tax Assessment and Collections 56
E IV Miscellaneous Statistical Data 51
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A~ ERNST & ERNST
BOO FORT WORTH NATIONAL SANK BLDG
FORT WORTH, TEXAS 76102
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Honorable Mayor, City Council
and City Manager
City of Denton, Texas
We have examined the financial statements of the several funds of the city
of Denton, Texas, as presented on pages 6 through 32, for the year ended
September 30, 1970, 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 circumstances.
Financial statements for the preceding year were examined by other certified
public accountants who were unable to express an opinion on the financial
statements of the Working Capital Fund or the statements of earnings of the
- Electric System Fund and the Water and Sewer System Fund to the extent that
losses from operations of the Working Capital Fund were included therein.
Because of the effect of beginning balances and because of deficiencies in
the system of internal control, we are unable to express an opinion on the
statement of operations of the Working Capital Fund for the year ended
September 30, 1970, or the related loss amounts which are included in
operations of the Electric System Fund ($108,133) and the Water and Sewer
System Fund ($20,799).
D uring 1967, the carrying value of the utility plant of the Electric System
Fund was increased by $4,851,498 to reflect the then current replacement
value, based on an appraisal, of the plant. Such increase is being amortized
by direct charges to the Unrealized Increment in Valuation of Utility Plant
in Service account, and, at September 300 1970, $4,002
,022 of the unrealized
Increment remains to be amortized over future years. The recording of
appraisal values in excess of cost is not in conformity with generally ac-
cepted accounting principles.
'The City has never recorded streets and water and sewer systems contributed
to It by developers; however, generally accepted accounting principles re-
quire such contributed assets to be recorded at market value at date of
cantributioa. The amount of such contributed but unrecorded assets at ,
September 30, 1970, and the effect of the related unrecorded depreciation {
on the Statement of Operations of the Water and Sewer System Fund for the
year then ended is not readily determinable.
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Poring the year ended September 30, 1970, the city changed its method of account-
ing for taxes and assessments from the cash to the accrual method. Additionally,
it changed its practice of accounting for electric transformers to capitalize
them into the utility plant when purchased. Trezsformers had been previously
carried in inventory of the Working Capital Fund until placed in service. The
effect of these changes on the financial statements is described in Notes A and
E to the financial statements.
In our opinion, except for the matters described in'the second, third, aid
fourth paragraphs above, the financial statements appearing on pages 6 through
32 present fairly the financial positions, revenues and expenditures, and
changes in fund balances of the respective funds of the City of Denton, Texas,
for the year ended September 30, 1970, in conformity with generally accepted
accounting principles applied on a basis consistent with that of the preceding
year except for the change, which we approve, in the method of accounting for
takes, assessments, and electric transformers as described in the preceding
paragraph.
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Fort Worth Texas {
December 13, 1970
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' CONDENSED BALANCE SHEETS - ALI, FC'ND4
CITY OF DENTON, TEXAS
September 30, 1970
Water
General Electric and Sewer
Fund System Fund System Fund _
ASSETS
Cash $14:,972 $ 21,618 $
Investments - at cost plus accrued Interest 20,L"10 220,035 20,000 r
Receivables less allowances of S239,498 -
Notes A and B 97,263 1,162,826
Due from other funds 8,072 67,439
Prepaid insurance 9,891 28,373
Inventories - at lower of cost or market -
Note E
Restricted assets:
Cash 1,050,084 250,225
Investment3 - at cost plus accrued interest 1,290,485 397,772
Due from other funds 16.001 4,507 ,
Due from sale of bonds 3,518,092
Other 1,000 261,100
Property, plant, and equipment - net - 20,350,469 6,968,028
Notes C and F.
Investmeat in Int:agovermnental Service Funds-Note G 37,381 276,933 147,858
Amount to be provided for retirement of
general bonds
Amount available for debt service _
$307,579 $28,003,355 $8,049,490
LIABILITIES, CONIRIB•UTIONS, RF-SERVES, AND FUND BALANCES
Cash deficit $ $ $ 42,453
Accounts payable 21,262 176,62-4 17,456 w. {
Accrued payroll and payroll taxes 109,244 36,683 17,762 i
Accrued interest on revenue bonds 202,957 36,302 f
Construction contracts and retained I
j I percentage payable 109,068 11
Deposits payable 227 ,j 51
16,398,000 4,323,874
Bonded debt and ocher long-term liabilities
Due to other funds 33,714 7'.,966 35,383
Reserves 18,331 1,2(9,020 370,586 j
Unrealized increment in valuation of utility
plant in service - Note C 4,002,022
Investment by General and othcr funds - Note G
J Investment in general fixed assets
Contributions: 2,464,212
By municipality and governmental agencies In aid of construction 4,381 17 858
Retained-earnings 5,610,041 614,536
Fund balances - Notc A 125,088
Commitments and contingencies - Note I' - -
$307,579 $28,003,355 $8,049,490
(From from (From
1:XMB11' 2-1) EXIMM' C) t.XHlBIT D)
See notes to financial statements.
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I °XHIBIT A
lnrra Special Revenue
Genetal Debt gocerwnental Capital Trust and General General
Service Fund Setvlce F'uuds Projects Agency Funds Fixed Assets Debt
$13,915 S 167,267 $ 59,082 $ 6,470 $ $
120,445 494
1,002,460 109,613
11,471 175,519 139,655 98
286,725
695,310 9,631,289
1,1'20
6,911,614
25,386
$25,386 $1,445,386 $1,201,197 $116,675 $9,6310289 $6,937,000
1014 ,'.20 37,209 1,444
5,515
i 50,149
4,176
6,937,000
4,215 163,142 110,282
1,7Si 950,697 773
~J 588,454
9,631,289
221,911
J
522,256
25, 386
$25,386 $1,448,386 $1,201,197 $116,675 $9,631,289 $6,937,000
(From From (From (From From From
EXHIBIT 6) EXHIBIT F) EXHIBIT G) EXHIBIT H) EXHIBIT I) EXHIBIT J)
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EXHIBIT B
GENERAL FUND
BALANCE SHEET
CITY OF DENT'ON, TEXAS
September 30 September 30
ASSETS 1970 1959
Cash
Time certificates of deposit $144,972 $170,492
Tnterest receivable on time 20,000 70,000
certificates of deposit
Accounts receivable (less allowance of - 943 -
$17,000 - 1970; $11,526 - 1969)
Taxes receivable - delinquent (less 9,443 167,830
allowance of $103,064 - 1970;
$137,151 - 1969) 77,820
Duc from other funds -
Prepaid insurance 8,072 :6,540
Investment in Working Capital Fund - EXHIBIT F' - NoteG 9,891 12,765
37.381 __CL 272)
$307,579 $397,298
LIABILITIES, RESERVES, AND FUND BALANCE _
Accounts payable
Accrues payroll and payroll taxes $ 21'202 $ 52,904
Due to other funds 109,244 86,970
33,714 18.048
TOTAL LIABILITIES 164,160 157,922
1 Reserve for encumbrances 18,331
I 20,899
Fund balance - EXHIBIT B-l 125,088
218,477
CONTINGENCIES - Note F
$307,579 $397,298
To EXHIBIT A
See notes to financial statements.
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GENERAL FUND
ANALYSIS OF CHANCES IN FUND BALANCE
CITY OF 000N, TEXAS
For Year erdcd September 30, 1970
Balance at October 1, 1969 $ 218,411
Add:
Revenues - EXHIBIT 1-2 $2,875,470
Adjustment to record estimated
' value of taxes receivable at
October L, 1969 - Note A 54,300
Consolidation of airport fund
~ balance _ 1,306 2,931,076
3,149,553
Deduct expendit"rei and encumbrances - 3,024,465
EX HIBiI' B-2
BALANCE AT SEPTEMBER 30, 1970 $ 125,088
To EXHIBIT B
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EXHIBIT 8-2
GENhRAl, Fl'ND
Sl,fh1ARY OF REVEV.'FS AND LXPEND111'RE3 AND h'NC1^1RRANCES
CITY OF DENION, 1EXAS
Budget Year Ended September 30
(revised) 1970 1969
REVENUES General property taxes
current taxes $ 437,185 $ 453,179 $ 503,437
4, ~nua~Rw hsrMatsriS• 20,000 19,388 24,457
Fenalti^s and interest 13,000 13,595 10,952
i 470,185 486,162 538,846
Other revenues
Other taxes 603,800 635,155 591,589
Fces from revenue - producing
facilities 302,700 320,145 300,226
I Fires and fees 142,100 158,309 145,860
Licenses and permits 23,774 27,162 25,523
Miscel.aneous revenues 275,934 123,661 59,706
Transfers from other funds 1,130,371 11124,876 993,423
2,477,679 2,389,308 2,116,327
2,947,864 2,875,470 2,655,173
EXPENDII 'RES AND ENLL•MBRANCES
Salaries and wages 1,952,729 1,973,011 1,726,549
,026 13030,586 1 13232,506
135
Supplies
Maintenance 235,055 267,207 201,822 l
Services 425,487 431,629 301,852
5,753 13,891 1,143
Sundry 134,003 146,584 79,843
Capital vutla)
Nondepactmcntal expenditures 89,000 61,557 26,532
Transfers to other funds for 4,686
special projects
2,977,053 3,024,465 2,474,933
REVENUES OVER (UNDER)
1 L•XF'ENDIFCRES AND ENCUMBRANCES $ (29,18°) $ (14$,995) $ 180,240
To EXHIBIT B-1
See notes to financial statements.
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ELECTRIC SYSTEM FUND
BALANCE SHEET
CITY OF DENTON, TEXAS
Scptcmbci 30 r fir'
1970 19u9
ASSETS
CURRENT ASSETS
Cash $ 21,617 a 2'/'l '6'16
Time certificates of deposit 220,000 ?o'cklo
Interest receivable on investments 35 15,660
Prepaid insurance 28,373 U,2'+8
Accounts receivable (less allowance
of $36,434 - 1970; $42,823 - 1969) -
Note B 1,162,826 ';',L,419
Due from other funds and restricted _
asset account 67,439 !`r_66
TOTAL CURRENT ASSET'S 1,500,290 1,315,629
RESTRICTED ASSETS
Revenue bond debt service:
Cash 725,853 1,011
Certificates and time deposits 20,000 735,5rJ
interest receivable on investments - 2,116
Miscellaneous receivable 1,000 -
Due from other r^stricted asset accounts 392
Revenue bond reserve:
Cash 15,010 Lill
Certificates and time deposits 967,951 937,000
Investments in U.S. Government obligations
(quoted market, $121,377) 124,894 144,846
Interest receivable on investments 2,640 23
Due from Electric System Fund IS,F,f!9
Revenue bond construction:
Cash L66, 305 1 till, 283
Open time deposit 175,000 /'4i,000
Interest receivable on investments - 656
Due from sale of bands 3,518,092
System extension and improvement - Cash 142,916
TOV L RESTRICTEn ASSETS 5,875,662 2,659,852
U'I ndY a - Note rights C
Land and d land r[ghts 147,G5~ '53,7!~'~
Electric plant production and distr<bulion
facilities (Less accumuLa~vd depreciation
of $9,198,401 - 1970; $8,221,427 - 1969) 10,005,7?6 '1),3/1,691
Construction in process ___97.UL)O ;1de494
20,350,469 2/1,615,949
INVESTMENT IN INTRACOVERNMENIAI, SERVICE; VTt ND -
EXHIBIT F - Note C 276,934 3?,551
$28,003,351 y./:,h'il,yd0
To EXHIBIT A
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EXHIBIT C
M.
September 30 September 30
1970 1969
LIABILITIES, RESERVES, AND RETAINED EAPNINGS
CURRENT LIABILITIES
Payable from current assets:
Vouchers payable $ 176,634 $ 157,288
Accrued payroll and payroll taxes 36,683 31,062
Dut t o other funds 35,933 17,409
Customers' deposits 227,651 214,196
Revenue bonds payable due within one year 51,083 50,000
Revenue bond interest payable 17,628
545,612 469,955
Payable fr^,a restricted assets:
Contracts payable 34,365
Revenue bonds payable due within one year 561,917 550,000
Revenue bond interest payable 185,329 195,837
7ue to Electric System Fund and
other restricted asset accounts 40,033 16,265
787,279 796,467
TOTAL CURRENT LIABILITIES 1,332,891 1,266,422
O1 HER LTAbtlIlIES
Revenue bonds payable - exclusive of
maturities due within one year 15,785,000 12,898,000
RESERVES - hXHIB1'I' C-1
Reserve for revenue bond retirement 1,126,104 1,062,000
Reserve for system extension and improvement 142,916 402,986
10269,020 1,464,986
UNRFALTZED INCREMENT IN VALUATION OF
LrTILTIY PLANT IN SERVICE - FX HlB1T C-1 4,002,022 4,285,181
CONTRIBUTIONS AND RETAINED EARNINGS - EXHIBIT C-l
Contribution in aid of construction 4,381
Retained-earnings 5,610,041 4,739,391
5,614,422 4,739,391
COFNITMENTS AND CONII5GENCiES - Note F
$28,003,355 $24,653,980
To EXHIBIT A
See notes to financial statements.
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ELECTRIC SYSTEM FUND
ANALYSIS OF CHANCES IN RESERVES, UNREALIZED INC ME NI,
CONTRIBUTIONS AND RETAINED-EARNINGS BALANCES
CITY OF DENTON, TEXAS
Year ended September 30, 1910
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R _L S E R V E S _
Revenue Extension
Bond and
Retirement improvement
Balance at beginning of year $1,062,000 $402,986 -
Add:
Transfer from operating fund 64,104 541,498
Contribution by developer
Net income - EXHIBIT C-2
Decrease in reserve for extension and
improvement
64,104 541,498
1,126,104 944,484
Deduct:
Reduction in reserve for extension and
improvement 801,568 "
Amortization of unrealized increment
Transfer to general fund
Transfer to reserve for extension and
improvement
Transfer to revenue bond retirement
801,568
BALANCE AT END OF YEAR $1,126,104 $1420916
~ - -ate
ii
T o
-13-
k
I
m 1
w EXHIBIT C-1
1
i
IJ
Cnreatized Contribution
Increment in in Aid of Retained
Valuation Construction Earnings
$4,285,181 $ - $4,739,391
4,381
i
1,304,057
801,568
4,381 2,105,625
4,285,181 4,381 6,845,016
283,159
629,373
541,498
64,104
283,159 1,234,975
$4,002,022 $4,381 $5,610,041
E X H I B I T C
I
~I
See notes to financial statements.
-14.
t
4
t
F
EXHIBIT C-2
FLECTRIC SYSTEM FUND
STATFKr.Nr of IONS
C11Y OF DEMON, IE3(AS
Year Ended September 30 J
INCOME 1970 1969
Electricity sales:
Customers 44,294,387 $3,8481,880
Intergovernmental 198,844 120,215
Other 17,052 _ 32,173
EXPENSES 4,510,283 4,001,273
Salaries and wages 549,065 481,665
Fuel for electricity production 887,318 744,559
Supplies 38,324 52,255
Maintenance 82,122 56,341
Insurance 42,387 56,049
Administrative services 234,807 208,754
Provision for uncollectible accounts 26,578 13,428
Services 76,221 56,370
Economic development 31,802 22,003
Band issuance expense 6,'289
Sundry 19,384 218
1 Eq1jIty in loss of Working Capital
Fund - EMJ bif a-7 108,153 38,866
2,102,430 1,730.508
OPERATING INCOME
BEFORE DEPRECIATION 2,407,853 2,270,765
Provisiom for depreciati,n 739,041 715,281
OPERATING INCOME 1,668,812 1,555,484
' Other income - interest _ 81,597 89,991
750,409 645,475
Bond interest and fees 1 446,352 1,475,164
NET INCOME $1,304,057 $1,170,311
TO EXHIBIT C-1
See notes to finanaial statements.
-15-
I
i
1
WATER AND SEWER SYSTEM FUND
BALANCE SHEET
CITY OF DENTON, TEXAS
September 30 September 30
1970 1969
ASSETS
CURRENT ASSETS
Cash $ $ 229,058
Time certiffcat~s of deposit 20,000 20,000
Interest receivable on investments - 4,291 _
Due from other funds 194,229
TOTAL CURRENT ASSETS 20,000 447,578
RESTRICTED ASSETS _
Revenue bond debt service:
Cash 52,789 55
Open time deposits 37,000 88,900
Interest receivable on investments 123 208
Revenue bond reserve:
Cash 5,431
Certificates and time deposits 360,205 350,000
Interest receivable 444 -
Due from operating fund 4,507 -
Revenue bond construction:
Cash 192,005 303,275
Open time deposit - 150,000
Crant receivable from Federal Government 261,100
Interest receivable on investments _ 2,750
i
TOTAL RESTRICTED ASSETS 913,604 1,295,188
UTILITY PLANT' - Note C
Land and land rights 100,800 100,800
Water utility plant (leas accumulated depreciation
of $2,766,159 - 1970; $2,556,660 - 1969) 4,317,493 40327,396
Sewer utility plant (less accumulated depreciation
of $2,411,291 - 1970; $2,308,666 - 1969) 1,029,075 1,030,973
Water rights (less accumulated depreciation
of $85,022 - 1970; $80,020 - 1969) 165,042 170,044
Construction in process 1,355,618 Y 331,741
6,968,028 1,960,954
INVESTMENT IN INTRAGOVERNMENTAL
SERVICE FUNDS - EXHIBIT F - Note G 147,858 32,962
$7,736,582
To EXH18lf A
-16-
I
r• EXHIBIT D -
September 30 September 30
1970 1969
LIABlLII1G5, HES1iRVE5, CONTRIEUI'IONS AND RETAINED-EARNINGS
CURRENI LIA2ILIlIES
Payable fYL'% L rrtnt assets: $ 42,453 $
Cash deficit 10,418 10,759
Vouchoti p~yahl" 17,762 13,989
Aeerred patrolI ana payroll taxes 30,876 19,925
Due to other funds 4,507 -
DuC, to revenue bond reserve 138,750 140,499
RCVerwe londg payable due within one year 244,766 145,172
Payable from restricted assets: 7,038
4'u.,Ocrs payable
Con;tr;ctk n (ontr,~cts and retained Ob8 101,878
percentage paN3M, L0099,50 3,333
RcVtaue bends payable due within one year 6,2 2 51,876 J
Ace iucd interest on rcvcm:c bands 30
198 352 181,087 1
TOTAT, CURRENT LTABIIITIES 443,424 372,259
01HEER LLM,11,111Eo
Revem:e bands payalhle - exclusive of
mat r c i t i e ~ d uwithin cne )'ear 4,080,000 4,251,168
58,874 _ 72,706
Contract peyahlr 4,138,874 4,323,874
I
RESERVES - EXH1811 D-I _ 3,954
Reserve for revenue bond debt service 350,OOD
Reserve for revenue head retirement 3701586 370,586 353,954
CONIRIBM TONS AND REIAINE?D-EARNINGS - EXHIBIT D-1
Contributions from muc,iclpal or other 2,464,212 2,057,012
governmental units 17,858
In aid of constc.r'tinn 617858 629.483
Retain d-earaine 2,686,495
3,096,606 CONIINGENCIES - Note F
$8,049,490 $7,736,582
To EXHIBIT A
See notes to financial statements.
-17-
WATER AND SEWER SYSIEM hUND
ANALYSIS OF CHANGES IN RESERVES, CliNK 1':f'J11" ,
AND REIAINED-EARNINGS hA]ANCES
CIrY OF DEMON, IEXAS
Year ended ScytMo r 30, 1970
_ R E S E R V Ci
Rev uue - - Revenue
Und neht Bond
Service Retirement
Balance at beginning of year $3,954 $350,400
Add:
Contribations of water taps by cnstow(rs
Transfer from operating fund 20,`86
Net Income - EXHIBIT D-2
Decrease in reserve for revenue bond
debt service
Contribution from Federal Government
20 585
3,954 370,585
Deduct:
Decrease in reserve for revenue bond
debt service 3,954
Transfer to reserve for revenue bond
retirement
Transfer to Ceneral Fund
3,954
BALANCE. AT END OF 'ilEAR $ - 5370,586
1 O
f
5cc nutcS to financial M tcmcnta.
c
1B-
EXHIBIT D-1
C 0 N i' H I H t' 'f 1 n N' S
Pb F if al or In Aid
Othcr l.uar [nmcntal of RetalncJ -
!rica Construction Earnings
$2 0~7,Ul3 $629,483
$17,878
184,112
3,954
407 , 200
407,200 17,858 188,066
2,46'+,212 17,858 817,549
20,586
182,427
~ - 203,013
$17,858 $614,536
F; ;t If [ H l 1 D
II
. l{
I
i
-19-
Y
ax
F~
EXHIBIT D-2
WATER AND SEWER SYSTEM F11ND
STA Imvi of OCFsA'1'Iim
(111 OF UIN ION, 1EXAS
Year Ended September 30
1 h'C0Nf: 1970 1969
Water saics:
Ih
CuEtnmrrs
S 902,498 $ 829,347
nt 47 X6,884 30,203
h
Seger scrnl,6 cKarge:s 315,638 308,972
'Capping fees 24,405
34,256
other 196 _____4,521
);xPI:NSEs 1,279,621 1,207,299
Salarits and wages 266,393 286,188
Supplies 62,875 68,999
Maintenance 30,785 32,346
Production power 62,146 59,112
Administrative services 78,269 69,584
S,rvices 66,094 59,851
Pr-vision for uncollected accounts 7,479 7,152
Insurance 4,500 5,953
Economic devclopment 15,901 9,575
Bond issuance expense - 6,459
Sundry 9,241 2,513
Equity in less of 'W'orking
Capital Fund - EXNIRII F-1 20,799 36,510
624.482 644,242
OPERATING INCOME
BEFORE DEPRECIATION 655,139 563,057
Provision fur dcpreclatlon 317,125 295,677
OPERATING INCOME 338,014 267,360
Other income - interest 27,430 35,152
365,444 302,532
Bond Interest and fees 181,332 151,970
KT INCOME $ 184,112 $ 150,562
TO EXHIBIT D-1
h
i
~I See notes to financial stitvNents.
1
J
-20-
EXHIBIT E
GENERAL DEBT SFR%'LCE FUND
BALANCE SHEET
Clit OF I1C.Sl(1~, [F.XAS
September 30 September 30
1970 1969
ASSL'is
$ 13,915 $ 7,500
Ca sh
- 10,000
_ upvn ~ nun ' os i t
34
Interc,t rereiv3blaa un open t3mP di~poSLt
11,471 7,497
Due Cram «ther :ands 531
$ 25,386 $ 25,
FEND BP.!ANCE
$ 25,386 25,531
Rind Eala:r;c tXHEFIl E-l r.~
To EXHIBIT A
i
1
i
i
t
Sec note to financial statements.
•21-
q
I
EXHIBIT E-1
CENF:RAL DEdf SERVICE: F=
SIATEmw of RnF%-t'F., FXPE.NDI'L'URES AND ILND BM.ANCE
_ CI II of III N r X,l,
1
Year Ended September 30
1970 1969 JJJ
{
REVENUE
fudgetcd portion of taxes collected $588,840 $443,915
Interest eAr111-13 oa inveetmentS 2,526 1,683
591,366 445,598 {
F.XPENDiIVRES
Bands retired 346,000 220,500
Interest on bonds 245,132 204,228
Paying agent EeeB 379 396
591,511 425,124
REVENUE OVER (UNDER) EXPENDITURES (145) 20,474
fund balance at beginning of year 25,531 5,057 {
FUND BALANCE AT END OF YEAR $ 25,386 $ 25,531
r To EXHIBIT E
iI
I
i
i ~
i
See notes to financial statements.
-22-
EMIBIT F T
IN"1RAW%'FRN"RF.N JAI, SERVICE FUNDS
BAT.ANCE S EEI
- CITY OF DPIII"', ",AS t
Working Motor ~y
Total Capital pool
ASSL;I'S ~
$ 167,267 $ 92,298 $ 74,969
Cast[ 120,000 - 120,000
Invcstrur t; - at cost 445 - 445
Interest IE'ce'ivabie 288,725 288,725 -
Inventories - at lowor of cost or r.!arkc[ I
Due from other funds 175,519 20,438 155,081 I
Fixed assets at c(st: 1,253,099 4,866 1,248,233
Equipment 557 789) (570) 557,219)
Accumulated depreciation (6951310 4,296 691,014
1,120 1.120
Investment in Motor Pool Fund - at cost $1,448,386 $ 406,877 $1,041,509
LIABILITIES, RESERVES AND FIND BALANCES ~
Vouchers payable $ 104,220 $ 104,220 $
5,515 5,515 -
Accrued payroll and payroll taxes
4.275 1 245 3 030
Due to othcr funds
TOTAL LIABILITIES 114,010 110,980 3,030
Reserve for maintenance of service center 1,755 1,755
Fund balances: 37,381 125,161
Investment by General Fund - Note G 162476,542 542 , 188,112 88,822
Investment by Electric System Fund - Noce G
Investment by Water and Sewer System Fund-NoteG 1/41,858 68,649 710120
Invcstment by Working Capital Fund 1,120 - 421,911
Contributed assets 221'911 _ 521,256
Retained earnings 522,256
X332.621 244,142 1,038,479
1,
$1,448,386 $ 406,871 T1,041,509
70 E7{AISIT A
See notes to financial statements.
-23-
EXNIB1T F-1
1NTRAGOVERINI,U NIAL SERVICE FUNDS
ANALYSIS OF 0%NGES IN Ft'ND BALANCES
CIIY OF DEV'lt 1_ I ;a AS
Year ended Scptemi,cr 30, 1970
Working Motor
Total Capital Pool
investment by General Fund:
Balance - September 30, 1969 $ 102,376 $ (1,272) $ 103,648
Asset: transferrcd during the year - Note G 71,484 49,971 21,513
All.,atl.•n of net loss: (11,318) 1( 1,358)
BALANCE - SEPTEMBER 30, 1970 162,542 37,381 125,161
Investment by Flcctric System Fund: 32,550 (44,262) 76,812
Balanct' - September 30, 1967
Asset, transferred during the year - Note C 352,517 340,507 12,010
Allocation oE' net loss (108,133) 108 133)
BALANCE - SEPTEMBER 30, 1970 276,934 188,112 88,822
Investment by Water and Serer System Fund:
Balance - September 30, 1969 32,862 (41,579) 74,441
Assets transferred during the year - Note G 135,795 131,027 4,768
Allocation of net loss (20,792) 2( 0799)
BALANCE - SEPTEMBER 30, 1970 147,858 68,649 79,209
Investment by Working Capital Fund: 705
Balance - Scptember 30, 1969 705
Assets transferred during the year 415 415
BALANCE - SEPTEMBER 30, 1970 1,120 - 10120
Contributed assets: 220 102
Balance - September 30, 1969 220,102 - r
Contributions frrnn treat fund _ 1,809 1.809
BALANCE - SEPTEMBER 30, 1970 221,911 - 2210911
Retained earnings: 376,334 - 376,334
Balance - Septvmnvr 30, 1969 145,922 345,922
Net income
BALANCE - SEPTEMBER 30, 1970 522,256 - 522,256
FUND BALANCES - SEPTEMBER 30, 1970 $1,332,621 $2940142 $1,038,479
(To EXHIBIT F
i
See notes to financial statements.
-24-
III
I
k.
F
P~
EXHIBIT F-2
INTRAG0'irERNMLN"fAL SERVICE FUNDS
SIATEMENr OF OPENAII0NS
Year F,l si pt~-ll i '1i1, 1970
1
Working Motor `
Total Capital pool f
C'haryc•~ tctl _r L:rl; $1,162,799 $ 949,510 213,289
Lens test of mate- r 1 al
s:
Feg,inaine, it t r: 392,510 392,510,
Porch-rs~s 866,800 866,800
1,259,310 1,259,310
Lea ending i.:,-it r,: _ 288,725 288,725
9701585 _ 970,585
192,214 (21,075) 213,289
Op Gating eX}renties;
Salaries and wages 101,804 101,804
Supplies 1,710 ?,710
Maintem,nr,e 1,575 1,575
Equipmcoit rental 3,024 3,024
Misrellaneo;'s 10,492 10,492
Depreciation (straight-line) 127,561 570 126,991
246,166 119,175 126,991
NET 01'rRATING INCOME (LOSS) (53,952) (140,250) 86,298
Other incomF:
Cain on idle ur trade of eq iFm`-lt 54,843 54,843
Interest 4drned 4,781 4,781
59,624 _ 59,624
NE'r INCOME (LOSO) $ 5',672 $ (140,250) $ 145,912
TO EXPLBIT F-1
i
See noc<s to financial statements,
J
-25-
I
EXHIBIT C
CAVIIAL PROJE:CIS
BAI,ANCE SHFE'I'
CITY OF PFNI'ON. TEXAS
$c.pt,-c~,tSG.
Street Fire Municipal
Total Improvcmcnt Statinn Building
ASSEIS
cash $ 59,082 $ 29,785 $ 20,766 $9,531
Proceeds raciivable from
bonds aold 1,002,460 1,002,460
D.x from other funds 139,655 138,441 1,214
$1,201,197 $1,170,686 $ 20,766 $9,745
LIMiILICI£S AND RESERVES
Vouchers Payable $ b711209 $ 26,059 $ 10,125 $1,025
Corstructi..n rnntract retained
- pcrccntage payable 50,149 40,320 1,109 8,720
Due to ether funds 163,142 162,879 263
I01AL LIABILITIES 250,500 229,258 11,497 9,745
Reserves:
Encxmhranees 1,358,897 1,258,041 100,846
Aw burizcd L,r:pcndltures (deficit) (408,190) (3160613) (91,577)
$1,201,197 $10170,686 $ 200766 $9,745
To EXHIBIT A
I
Sec notes to financial statements.
-26-
I
EXHIBIT C-1
CAPITAL PROJLCIS
ANALYSIS OF CILV4,ES IN PF(,E: VI:S FOR IAFEN0I VUI
C.I'I'i Of LiFV Oi , 1k:XAS
YG:ar JJ Srl- , r-,
fire Muntcipal
Tntel Strcet Station 8uild'.ng
I'AI.A%, . i01:F:',11 0 t,; I, 1'69 Si, 393, 577 $1,377,448 $ 13,029 $ 3,100
Addi ti,at'
ContriNitton; Cr.rn at, r
govrrnmcntal agcncics 16,682 16,682
Proceeds from sale of
ahandon d fire statlon 14,956 14,956
Interest i15,458 15,120 338
Asscs;mcet rtvcn:r 80,482 80,482
Correction of prior vcar's
assestimrnt r,ven.'r 61,484 61,484
Rent and other misccii+aneol„
revenue 8,657 8,657
Proceeds frr'n sak of lends 1,000,000 1,000,000
Transfer from tle t<c.cral Fl,ud 1,213 1,213
1,198,932 1,165,743 15,294 17,895
DCdJi Li V!1S:
C'apLtal expendit:res 1,641,812 1,601,763 19,054 20,995
Increase (dr.rease) in ri ervr
tot en, rFtum 1,358,887 10258,041 100,846
3,000,699 2,8590804 119,900 20,995
BALANCE (121 1k,11) September 30, 1970 $ (4080190) $ (316,613) $(91,577) $
T o E X H I Ii I T 0
L
Sec notes to financial statements.
-21-
I
I
iII
II
t
w
EXHIBIT H
r
r.
SPECIAL IRI-SI AND AGENCY FUNDS
1
Street
Total Assessments Miscellaneous
A SF I5
$ 6,470 $ - $6,470
t
ttaH cn t 'ma p t 494 494
dc ,is
Street a=,.e",mlrit VC :LiV11010 less
aII.,warice for ';a c",ilck' t I b I s of 109,613 109,613
i $ [00,0::0 yB 98
IT:c i'r,,.n oC},Er frr;dr
$116,675 $109,613 $7,062
I
L1A1i11.11 IES
$
Vacchcrs 1 l` 1,444 $ - $1,444
'110,282 109,613 669 773 70 3
Rrser1o IOV -.t,:•i.ni,r,,-r,,.y 4,176 4,106
Escrnv d,,Poiity -
$116,675 $109,613 17 062
To EXHIBIT A
i
i
Dt iAiE U'r' FS'_,htM' 1tIsPV,~iId
$ 941
hlcXenra Park 3,185
Fmilg l.xl r 1,ihrar~• fund
$4,176
J
See notes to financial statements,
-28,
EXHIBIT I
STATEMENT OF GENERAL FIXED ASSETS
31 ~n~
CITY nl 00010,
ChNERAL FIXED ASSETS
balance Balance
Oct. 1, 1969 Additions Retlrrments Sept. 30, 1970
Land 5 739,630 $ 31,161 $33,750 $ 745,641
buildings 1,648,914 25,657 - 1,614,571
W eets - Note C 4,952,188 - 4,952,188
Equipment and Kher -
improvements 513,835 124,236 638,071
Construction In process - - 1y620,818 - 1,620,818
$7,854,567 $1,810,47 $33,750 $9,631,289
INVESTMENT IN GENERAL FIXED ASSETS
From General Obligation bonds $7,052,713 $1,406,964 $8,459,677
From opcrations 785,557 125,071 $33,750 876,878
294,734
I From contrSiritinns 16.297 278,437
$7,854,567 $1,810,472 $33,750 $9,631,289
To EXHIBIT A
j
See notes to finnnclal statements.
NOTE; Inv Mmvnt in vehicles by the General Fund is recorded in the accounts
or the Motor Pool Fund.
I
.29-
I
i
.t
EXHIBIT J
SIATETIENT OF UNEPAI. DEBT'
CITY OF DENTON, TEXAS
September 30 September 30
1970 i469
Amounts rcquircd for retirement of
general (O ligatIA bonds:
Available in K n ral Debt S.rvice - E\HIBII' E 25,386 $ 25,531
A d d i t i o n l Q W A rLqulrements - Note 6,911,614 61257,469
$6,937,000 $6,283,000
Ganural obligation bon& payablec
$6,937,000 $6,283,000
To EXHIBIT A
Note: 11c facturq contributing to the increase
during the year ended September 30, 1970, in
the i int of additional luturc rvquiremcnts
arc .__wnrived heir.:
Balance October 1, 1969 $6,257,469
Bonds issued during the year 1,000,000
Decrease in awgnt available in General Debt
Service Fund - EX U BIT E 145
7,257,614
Bonds retired daring the year 346,000
BAT.ANCE SEPTEMBER 30, 1970 $6,911,614
i
i
i
I
-30-
a.
p
x
EXHIBIT K
NOIFS 10 F1NANi IAL SI'ATFAI£h'I'S
- MY OF DF'NjwI , IFSAS
Scptcmr tr it . I'F'C.
Kato A - !s-ors ,rii A;~t.,ments
7hr CIt; cha~igc~~ i r method "f accounting for taxes and assessments from the
cash t" the scct»el m.thnd. 7'h is change resulted in increases of $23,520 in
tax rovemre f,,rr the y( ar, <77,8;10 in taxes receivable at the end of ttie year,
and S);,~nfr in I.nd I:;lan.c at t),e heginnIng of the year in the Ceneral Fund
and th 5' ta1)1islrrnt ,If a sPccial revenue fund for street assessments result-
irk in ,,rt io'r~ys. in rtsetvo for arfthorfzC,d expenditures in the Street
lnprovcc~c nts t.;,ptt^I Prolrct, Fiord of A61,484.
So(;t k Irndi A,i•,~,;Lt; F",Cr
iaa:lr, I:Icc tric System Fund '
InCIId. I ~n tr:,d n7c~tmes rcccivahle in the FIrk,trie System Fund are amounts
djc f an,1 sc,: r service=' prov1dcd by the 'c'ater and Sewer Fund and
tarht.:k ECtc(, S' ded tq the r,cneral Fund. Utility receivables are carried
m F.rnd to facilitate accounting and collection procedures.
Eae`. tin; rctcr,t' its own portion of the revenues and losses from these accounts,
Note i. - ty Plants and Other Fixed Assets
Cti11 pi=r,t, e^ -'.her fired ?,;sets are recorded at cost or market value at
date of c, ntri'r_ti )n except as fo:l;rws:
the net carrying value of the Electric System utility plant in service was
increased ;,v $4,8S1,ri98 to the appraised replacement value less depreciation as
determined by independent consulting engineers at September 30, 1967. :he
increase in carrying value is being amortized directly to Unrealized Increment
in Val,i3tirn of Ltiiity Plant in Service. Such amortization during the current
year was $283,159 and the remaining excess of recorded appraised value over
acgrisltion cost at September 30, 1970, was $4,002,022.
Contributions Irvm devclopors of streets and water and sewer system have
ncoer been rcC rded as assets by the City. The amount of these assets and
thetr effect on the ba!ance sheet and net income (depreciation) of the Water
and ~(vcr 5v=tcm Fund and the Statement of Ceneral Fixed Assets is not known,
N"t(, D - irangfer of F);crsc Reven,iea from the Utility System Funds to the
Crncral Fund
i
the City ch,3rter allows a transfer of "excess revenues" (as defined in the
",ity (hatter) uT thr utility systems to the Ceneral Fund it an amount not to
excrcd six oorr,nt ,I the "net investment" in the utility systems, The City
Charter specifies that the "net investment" be taken from the "independent
audit of the utility systems for the last fiscal year." In the opinion of
the City attor, ?y, the "net investment" may legally include the appraisal
increment of 114,285,181 at September 30, 1969,
-J1-
EXHIBIT K (CoWe)
NfffES 'f0 FI:tAT:CiAI 57'ATL:MFN7~
Ci7i OF Olfti301': Ir:XAS
Scpt.,mb.r 10. I1-0
Note E - Ellctric 7ra~:Rf r~ rs
During On Vear, e City changed its practice of accounting for electric
tranni orm, is t 1 oomph . th Qdoral Pacer Commission recommendations.
Iran sforraiv ar. TCA wq iraliacJ at the date of purchase instead of being
inci.dcd in tturhin!t capital invrntoi,y as in the past. This change resulted
in a-i in,, r,^ase in rix.u ts of the Floctric System Fund and a decrease
in to ,"L .r: io tpt WoOioi; Capital Fund of $165,704 at September 30, 1970.
Note F - UomNitme,ntN anri CuMn,gcnJL
Do Ctty O=wnti 1 !ta= pp' d u,ntrscts far construction of addltionat electric
Mlit, sysi t.-t,tlin, OCHii,182 to he financed prLmarily from proceeds of
ELiRttc Scti rLV 1 „I<.
S cbI, Ai n of 3 1 UK "I MA ati icnding against the City. In the npinicat
t M l'itz Att 7 , , , - i t ! t , s . if any, would be Immaterial in relation
to to, 1.ItF S I1 ll3rl 111 °tate w,1'1tE Ldh_ri as a whole.
Note C - lndestmeat to 6jiking Capital Fund
Advances made to tie working Capital Fund during current and previous years
were reclassified at September 30, 1970, from interfund payables to investment
by other fond,. Ilia reclassification resulted in increases in investments by
the General F,nd, Elcctrlc System Fund, and Water and Sewer System Fund of
$49,911, $00,507, and $131,027 respectively.
I
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~J
ACCOIINFA.NTS' REPORT ON OIHFR F[NLNCIAL INFORMATION
City of T),,nton, Trxnns
i
Ilia a,d[tcd tiny- 'ial .~tatemr,nts of the City of Denton, Texas, for
the ear crded Stprf=::,bar 30, 1970, and our reports thereon are pre-
scntrd i n tiie preceding section of this report. The information
pre^te'tcd on page„ 3: to 52 was dcrlved frern the accounting records
tcsirI by ti, a,, i,art .f the auditing procedures followed in our
c-xar,inatic,, of tte atorer,ention,d financial statements, and in our
rpini,n, i•; fairly prescnted in all material respects to relation
to tfn, finemial stntemc-nts taken as a whole; however, It is not
neccssar"Y for a fair pre+entation of the financial position and
results of operations of the City.
Statistical 0f1rn,at1fra presented on pages 53 to 57 was prepared by
the City a-A has hren i-;laded in this report without verification.
Fort Worth, Texas
December 17, 19-0
-33-
BONDS PAYABLE - ALL FUNDS
CITY OF DENTON, TEXAS
September 30, 1970
Date Dat! K An. t
of FIra I of Interest
Issuc Maturity Issue Rate
GENERP'K13LIGATION BONDS AND WARRAN'T'S
1948 Street Improvement Bonds 3- 1-48 3- 1-71 $ 150,000 3,25
1960 Stteet Improvement Bonds 7-15-60 7-15-65 600,000 3.50 to 3.85 -
1962 Street Improvement Bonds 3-15-62 3-15-87 300,000 2.75 to 3.20
1963 Permanent Improvement Warrants 4-15-63 4-15-76 305,000 2.60 to 2.85
1963 General Obligation Bonds 3-15-63 3-15-88 500,000 2.50 to 3.25
1964 General Obligation Bonds 7-I5-61 7-15-82 800,000 3.00 to 3.20
1964 Park Improvement Bonds 7-15-6', 7-15-62 200,000 3.00 to 3,20
1966 Airport Tmprovement Warrants 12- 1-66 12- 1-81 113,500 4.50
1966 Wonetal Obligation Bonds 1-15-66 1-15-86 1,000,000 3.30 to 5.00
1967 Gcnoral Obligation Bonds 11-15-67 5-15-89 600,000 4,25
1968 General Obligation Bonds 2- 1-68 2- 1-88 1,000,000 4.00 to 5.00
1969 General Obligation bonds 4-15-69 4-15-89 1,285,000 4,60 to 6.50
1970 General Obligation Bonds 9-15-70 3-15-91 11000,000 5.00 to 7.00
ELECTRIC SYSTEM REVENUE BONDS
1954 Electric System 11- 1-54 11- 1.84 4,267,000 2.75 to 3.90
1955 Electric Systems 5- 1-55 11- 1-85 1,350,000 2.75 to 2.90
1955-B Electric System 11- 1-55 11- 1-85 1,387,000 3.00
1961 Electric System 1- 1-61 11- 1-90 5,200,000 3.75 to 5.50
1965 Electric System 1- 1-65 11- 1-84 4,000,000 .05 to 5.00
1968 Electric System 2- 1-68 11- 1-88 1,000,000 4.00 to 5.00
1970 Electric System 9- 1-70 11- 1-95 3,500,000 4.50 to 6.50
WATER AND SEWER SYSTEM REVENUE BONDS
1960 Water and Sewer System 7-15-60 7-15-90 1,700,000 4.00 to 4.25
1962 Water and Sewer System 1-15.62 7-15-90 1,000,000 3.00 to 3.45
1964 Water and Scorer System 7-15-64 7-15-84 25U,000 3.00 to 3.40
1966 Water and Sewer System 1-15-66 7-15-86 1,001,000 3.30 to'4.50
1969 Water and Sewer System 4-15-69 7-15-89 1,060,000 4.00 Lo 6.50
34-
`s
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SCHEDULE I
Requirements r
} u; i,nd, d Year Ended
(?d t tLITI'd h ptc,rt_er 30, 1970 Outstanding September 30, 1971
Oct. 1, 1969 is^, d Retired Srpt.30, 1970 Principal Interest
$ 1Gio,000 $ 50,(JOD $ 50,000 $ 50,000 $ 512
4W) r(f(J 25,000 375,000 25,000 14,113
360,000 20,000 340,000 20,000 10,010
,40.000 25,000 215,000 3),000 6,097
3dn,uv~ 20,000 360,000 20,0000 10,790
730,Ot (t 75,600 105,000 25,000 21,738
1'80,0(41 0.(!00 141),00) 10,000 4,335
113,(Y 110 6,000 107,000 6,000 4,680
9a0,U0u )00 925,000 25,000 31,560
6(10,000 30,000 570,000 30,000 24,225
86, (,00 925,000 50,000 39,063
9; "1 1,781,000 60,000 1,225,000 60,000 63,205
$1,rG~,u00 1,000,000 59,050
S 6,283,000 51,0(.:11,0(0 $3_6,000 °6,937,000 $351,000 $289,687
S 2,783,OrJ0 $140,000 $ 2,645,000 $140,GGO $ 71,675
887,000 43,000 844,000 44,000 23,838
926,000 42,000 884,000 44,000 25,860
4,900,0(,0 75,000 4,825,000 85,000 189,645
I 3,000,ON 250,000 2,750,000 250,000 79,737
1,000,000 50.000 950,000 - 50,000 '10,800
J
~
53,500,040 3.5001000 144~,248
$13,498,000 $3,500,000 $600,000 $16,398,000 $613,000 $,75,803
$ 45,000 $1,450,000 $ 45,000 $ 58,000
;1,495,000
8x5,000 30,000 815,000 30,000 26,990
17 S, G)0 15,000 160,000 15,000 5,110
850,000 50,000 800,000 50,000 27,550
1 060 000 _ ZO,OOf? 11 040,000 451000 55,900
J 4,425,GOO $160,000 $4,265,000 $185,000 $173,550
I
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_35.
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FUTURE. DEBT REQUIREMENIS - AIL tU5'G5
CITY OF DEN1'ON, 1EXAS
Based un bonds and warrants payable i; f f- 97i,
Year h+.dire _ 31:NFpA1, OBI,TCATIoN _
Sc,pr,mbcr 30 Total
1971 $ 351,000 5 189,h87 f;,O,f87
1972 428,000 273,408 701,408 _
1977 433,000 254,530 667,530
1974 438,000 235,680 673,680
1475 439,000 217,999 656,999
1976 439,000 200,770 639,770
3417 400,000 183,830 583,830
1978 400,000 168,173 568,273
h 1979 400,000 152,448 552,448
1990 396,000 1?6,570 532,570
1981 402,000 120,700 522,700
3982 40[,000 104,555 >05,555
1983 91',,000 88,252 4['3,252
1980 323,000 74,217 399,217
398, 325,000 60,087 385,087
1986 300,000 45,825 345,825
1987 240,000 33,520 273,520
1988 245,000 21,992 266,992
1989 150,000 12,065 162,065
1990 50,000 4,050 54,050
1991 50,000 1,250 51,250
1992
1993
€ 1994
:995
1996
$6,937,000 $2,679,603 $9,(16,608
s
I
SCHEDULE 11
I
h
ELF,C:FRIC SY'SIFpt RHl'bNL'E WATER AND SEWER MUM REVENUE
Pr iRC 1091 [111 FYr:T-r.
~iCnL '10tH]
> 613,000 $ 575,803 $ 1,188,803 $ 185,000 $ 173,550 $ 358,550
735,ODD 618,906 1,353,906 195,000 165,475 360,47:
697,010 589,303 1,286,303 195,000 157,225 352,225
709,000 361,931, 1,270,934 200,000 148,975 348,975
716,000 531,388 1,250,388 205,000 t40,525 345,525
130,000 506,77? 1,236,772 215,000 I32,165 347,165
742,000 478,993 1,220,993 ?15,000 123,558 338,558
714,0011 550,F05 1,10'4,805 220,000 114,900 334,900
768,000 i2?,090 1,190,090 227,000 106,043 331,043
780,000 391,7,- 1,,7.,723 230,000 97,018 327,018
79.,00) VII 84 1,156,789 230,000 87,783 317,783
S061 O(A 3[,33+ 138,33', )40,000 78,497 318,497
420,001+ 3'11,4x1 1,121,424 240,000 68,8+5 308,845
b3G,0U0 7O,1 tr 1,104,127 245,000 59,187 304,187
153,000 241,(11-' 1,094,012 230,000 49,330 279,330
687,OCO 213,055 900,065 235,000 40,050 275,050
70-,000 183,140 388,140 195,000 30,545 225,545
U,OL'i) 131,605 881,605 200.000 22,395 222,395
%50,(Gu 118,760 868,760 205,000 13,995 218,995
721,000 86,045 811,045 160,000 6,097 166,097
750,000 53,360 803,360
140,1100 32,305 172,305
140,000 23,380 163,330
1,140,000 15,750 155,750
140,000 9,450 149,450
140,000 _ 3,130 143.150
$16,398,000 57,529,412 $23,927,412 $4,265,000 $1,816,158 $6,081,158
E
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M -
9
SCHEDULE III
GENERAL l'UND
E511MA,8D AND Al. ITA1, RSVFNL'i',
CITY OF DEMON, TEXAS
Year Ended September 30, 1970
Actual Revenue
Estimated Actual Over or (Under) Prior Fiscal
Revenue Revenue Estimated Year
r~vcc ~
Current taxes $ 437,185 $ 453,179 $ 15,994 $ 503,437
Delinquent taxes 20,000 19,388 (612) 24,457
Penalty and interest 13,000 13,595 595 10,952
470,185 486,162 15,977 538,845
01HER IAXF.S
Sales tax 555,000 587,380 32,380 549,498
FranclvisC tax - Done Star
Gas Co. 20,400 20,396 (4) 19,461
Franchise tar: - Ccneral IVI(I'11011c:
Gn. of the South est 27_j 400 27,379 (21) 22 630
6112,800 635,155 32,355 591,589
FFFS FRphl FAA' V'F-PROMVING
FAl_ i LI i I E
(,irlage 1'4 rgc4 - rt,i2tntial 190,00 197,680 7,680 200,573
t•arbagu c arFcr, r4111mCrCial 81,(•)0 89,235 8,235 84,158
Swiraning P( -l ,rc.ipts 10,000 11,212 1,212 8,193
Cemcttt} i(ts 1,700 1,680 (20) 1,838
Commiiait} bui'' .g rent 6,000 3,241 (2,759) 5,464
Ai rpotIt 14,0Q0 _ 17,097 3,097 -
302,700 320,145 17,445 300,226
FINES AND FEES
Corporation Court 140,000 154,578 14,578 144,058
i Animal pound I,000 1,908 908 243
Automobile pound 800 1,607 807 1,011
Police record checks 300 216 (84) 548
142,100 158,309 16,209 145,860
i
y LICENSES AND PERMITS
Zoning permits and petitions 700 780 80 1,360
Tax certificates 1,100 1,379 278 1,123
Dag licenses 100 63 (39) 108
Electric and plumbing licenses 1,800 1,360 (440) 1,400
Vital statistic, 1,700 2,368 668 2,049
Building permits 14,000 16,121 2,121 15,084
Miscellaneous permits 1,600 1,670 70 1,756
Loading zones 574 589 15 497
Carhagc, permi s 2.200 2,834 635 2,146
23,774 27,162 3,388 25,523
i
-38-
I
SCHEDULE III (Cont'd)
GENERAL FUND
FST10'7D AND AGTUAL RHVENVE
CITY OF DiiN10N, TEXAS
Year Ended September 30, 1970
Actual Revenue
Estimated Actual Over or (Under) Prior Fiscal
Revenue Revenue Estimated Year
MISCETIANEOU.S RF.VENTUES
Parking meter receipts 3,000 2,554 (446) 0,586
E.lecrric inspection; 3,600 3,820 229 3,861
Plumbing; inspections 4,500 5,604 1,104' 5,048
Country tire rues 1,500 1,460 (40) 1,389
Cvlnty radio and identification 3,000 3,000 - 3,000
Roots and cuncessi,ns 1,000 5,066 4,066 889
Silo of scrap ructial - 26 26 769
Khtul,ing MIA 37,000 48,091 11,091 31,918
lnter6:ct mitt? 3,000 919 (2,081) 4,767
Mibccl'areo"w Inco:x, 13,500 14,580 1,080 4,379
paving int rc=t 2,110 2,110
D", fr +,L r, .t, rc-:0,141, 170,000 513 (109,487)
Fixei asstt Ilk _ 33,834 35,909 75 _ -
275,934 123,661 (152,273) 59,706
TRANSFESS FRpM OTHER F00,
FLFi,'t:F;1:C ti'rSl'F,d Fl?lU
Aininistrative services 238,928 234,807 (4,121) 208,754
Return on net investment 629,373 629,373 545,254
WAIER AND SEWER SYSIEM 1IND
AdministrEtive services 79,643 78,269 (1,374) 69,584
Return on rut wFstment 182,427 182,427 - 169,831
1,13D,371 1,124,876 (5,495) 993,423
$2,947,865 $2,875,470 $(72,394) $2,655,173
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SCHEDULE IV
GENERAL FL-0
APFROI'RiAIIOI•,~ AVU lAPF1'Di1tRF.S ADD ENCUMBRANCES
CITY OF DFN'II)N, IERAS !
Year Ended September 30 ,1970 Expenditures r
Expenditures and Encumbrances
Appropriations and Encumbrances Prior Fiscrl Year
CENERAL COUFNMENT S 77,428
Salaries and wages $ 79,638 $ 91,171 Supplies 6,944 7,941 10,822
M,intcnance 10,518 11,878 2,365
Service,; 65,618 60,989 47,788 {
Sun-3rv 105 1,581 183
Capital c,utlxy _ 7,400 11,6ti4 2,345
170,223 191,124 140,931
LEGAL Dhl,AliiT[i'Ni
Salaries an,' ()1,724 60,027 55,028
tit'l'pli2,82U 2,51/+ ,842
Mai nt.- s c 1,331 1.454 801
13,052
~ Scri;:ty 16,300 1 45a
_ 27 124
S, ndi v
Capital tiay _ 31900 4,381 1912
86,075 86,367 75,759
CONN "S' H Dl iF ! 0i?11
SdLarit, s,l.! ag-s 145,614 143,021 121,301
Supplies 6,250 7,435 4,205
Main[ens^:ce 1,235 6,054 13,728
Services 9,813 14,277 16,717 i
Sun'ry 325 323
Capital o•,•. Lay 10,700 10,388 6,620
177,937 161,498 162,571 j
CIVIL DEFENSE 1
Salaries and wages 16,173 16,634 16,021
S.ppiies 532 2,343 2,948 1
Mai nteeanrc 810 2,301 1,437 {
Services 1,930 1,874 1,878
Capital outlay 5,423 2,07Q 2,523
24,868 25,222 24,807
F1NANf,E ADMCNISIPWiION 29,454
Salaries and wages 25,556 24,280 Suppl ies 635 992 559 Mairte iancr 327 287 118
Services 1,365 1,128 802 {
Capital o"ttlay. 280 450 1,308
28,163 27,137 32,241
I
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a,
d
SCHEDULE 1V (Cont'd)
I
GENERAL FUND
\5 ;LVD I.XPE,`N PCRFS AND ENCCXURANCES
ASrRU1R%[~O.
CITY ()1 UP:NIOV, TEXAS
Year EndEd Sep [ember 30, 1970 Expenditures
Expenditures and Encumbrences
Arc,,,,-,t Appropriations and Encumbrances Prior Fiscal Year
I Rlcm,-OF•+1AY
Salaries and wages 8,x,44 8,743
Supplies 3148 326 -
taiuteridice 580 589 .
Se rvic'c 929 739 - l
Gapit ,l o.7tlay 168 JJ
0,401 10,565 _
i
P('R(iiA;I\o
n.277 12,685
' Salaries 18,812
and i,a•', s 1,515 Ir( 827
Supplies 1°'?60 130
Sergi i1 ,41 10 1,33' l'~2 (is
12
47 --'2 -
12,312 21,056 15,053 l
ACCOIAIIKG, B1ItI`iG, ASD "l-1F.(.T'INC' 154,207
Satyr'.ES ar,d 7,ages 161,245 165,683
18,287 19,411 17,294
569
Supplie s 4,577 4,087 3,569
_ t4alnt<_narL( c 38,953
Sen7ices 37,994 38,103
289 J
Sundry 194
Capital t V 475 _ 540 1,477
or`.a
222,772 228,113 215 500
+
TAX 24+134
Salaries and wages 26'712 26,600 4,590 1,332
{
SuppliE's 4,960 380
Maintenance 381) 1,381 088 1,431
431
Services 1,425 1.053
Capita. 33,330
3J,4i7 32,659
HEA1,11i 1NSPCCIION 8,452
SalariE~ and wage,, 331
SuppIicS _ 561 '
Maintenance c 344 {
I~ Services X696
Capital aitlaY - - 15,384
~ I
SAN(IATION-COLILGTiON 195 148
Salartes and wages 213,410 211 5 314 9,024 15,984
Suppplies 16,983 -
33,000 31,932 30'993
Services ntpn.ance
rvices 331330 3',439 +
Sundry 28 279
1,809 1,809 4.488
Capital outlay 284,089
300,560 704,016 -41-
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I
SCFi£OULE IV (Coat'd)
GENERAL FUND
` APPROPRIAiiONy AND FXQFNfr; it RES AND ENCi1MBRANCE5
CilY OF DENTON, TFXAS
Year Ended September 30L1970 Expenditures
Expenditures and Encumbrances
Acc unt Appropriations and Encumbrances Prior Fiscal Year
SANIfATiON-DISPOSAL
Salaries and wages 21'912 22,342 20,465
S_pplics 772 1,342 755
8,500 10,638 5,680
S i ~ n a c c'
Services 10,350 9,673 9,608
Capital outlay 1,200 2,050 161
42,734 45,722 36,669
POLICE
S 646 446,087 442,240 390,297
Salaries and wages 26,286 28,568
Supplies 34,614 25,091
Maintenan a 26,037 26,095 Services 42,825 38,297 29,719
Inventory purcnases 6
1,701 2,366 400
Sundry 863
Capital outlay - land
capital outlay - plant and 10,97_9 14,474 8.882
equipment
562,303 549,764 483,820
FIRE 241,576
Salaries and wages 355,850 361,116 8,624
Supplies 9,079 9,106 Maintenance 8,363 9,291 6,579
Services 22,191 21,996 18,233
Capital outlay 6,560 5,391 5,614
I 402,043 406,960 3369626
STREET AND BT'IDC;E 170,638 136,446
Salaries and wages 170,821
Supplies 7,711 8,574 7,325
Maintenance 101,065 120,751 92,794
5 87,627 89,789 37,550
ervtces 100
Sundry _
Capital outlay land 1,500 1,277
Capltb; c' tldy - plant and 19,691 32,420 11.18
eG.ifm nt
388,415 422,272 286,580
PARKS - d MIN15rRATION AND PARKS 91,049 93,549 84,093
Salaries and wages Supplies 14,12n 10,882 13,608
Maintenance 9,880 17,316 11,220
Service 27,883 33,832 28,206
capital outlay - land 17,093 14,459 5,973
capital o,rtlay - plant and 71620 10.065 2,135
equipment
167,645 180,094 150,235
-42-
SCHEDULE IV (Cont'd)
GENERAL F,'ND
GPPROPRIA11ON5 AND EXPENDITURES AND ENCUMBRANCES
CITY OF DEN"ION, TEXAS
Year Ended September 30, 1970 Expenditures
Expenditures and Encumbrances
Acr.`Jnt Appropriation; and Encumbrances Prior Fiscal Year
PARKS - SN11MM1NG
Salaries and wages 11,541 13,280 12,166
S1,pplics 2,785 2,452 1,284
Maintenance 3,018 2,721 1,911
Services 2,800 3,040 2,350
Sundry (awards) 400
20 436
Capital uutlay 2,80 0 2,118 605
23,344 23,631 18,752
PARKS - RECREATION
Salaries and wages 43,479 43,085 38,682
Supplies 4,725 4,956 3,686
Maintenance 3,550 2,724 1,831
Services 23,450 21,388 11,389
Capital outlay - land 2,000 289 2,292
Capital outlay - plant and
equipment 3,210 2 997 3,376
80,474 -5,439 61,256
CEMETERY
Salaries and wages 20,385 20,763 14,890
Maintenance 800 514 466
Services 380 414 868
Capital outlay - - _ 7,31
9
21,565 21,691 23,543
LIBRARY
Salaries and wages 34,277 33,239 27,073
I ~ Supplies 2,021 2,949 9,512
Maintenance 300 434 1,645
Services 12,567 14,436 5,805
Capital outlay - land - - 300
Capital outlay - plant and
equipment 11 296 14,171 2,224
~~1 65,229 46,559
AIZPORT
Supplies 5 215
Maintenance 14,434 16,092
Services 3,810 2,511
Sundry 3,000 3,000
Capital outlay - land 7,132 7,202
Capital outlay - plant and
equipment _12,!400 8,950
40,781 37,970
.43-
1i
1
SCHEDULE IV (Cont'd) J
GENERAL FUND
APPROPRIA11ONS AND FXPEND11CRES AND ENCUMBRANCES
CITY OF DENI'ON, TEXAS
. 1
Year Ended September 30, 1910 Expenditures
Expenditures and Encumbrances
Account Appropriations and Encumbrances Prl,or Fiscal Year
CITY-COUNTY HEALTH UNIT
Salaries and wages - 249
Supplies - 122
Maintenance - 406
Services 21,500 25,321
Capital outlay 281
_ 21,500 26,379
NONDEPARIMENTAL EXPENDITURES
Flow Memorial Hospital 35,000 35,000 _
Insurance 54,000 15,259 12,995
Equity in loss of Working
Capital Fund - 11,318 1,117
Other - - 1,567
City-County Health Lrnit 10,854
89,000 61,557 260533
TRANSFERS TO OTFIER FUNDS FOR
SPECIAL PROJECTS
Parks and Airport Fund - - 4,027
Library Building Bond Fund - 659
4,686
I~ IOTALS GENERAL FUND $2,977,053 $3,024,465 $2,474,934
I r.
L I
-44-
i
SCEEDCLE V
ELECTRIC SYSTEM 1'0113
ESTIMATED AND ACT"AL REVEb-UE
C17'i OE DEN10'<, 1EXAS
Year Ended September 30, 1970
mctuai veer nevenue
Estimated Actual (Under) Prior Fiscal
Revenue Revenue Estimated Year
ECEC1FiC WND
Cast.N%ur sales - residential $1,660,000 $1,734,509 $ 74,509 (See Note
Ci,stomcr sales - connnercial 2,350,000 2,462,894 132,894 Below)
Penalties 35,000 51,683 16,683
Du,k-to-dawn rental fees 15,000 16,038 1,038
Intra-governmental sales 260,490 198,844 (61,646)
Collection on charged-off
a.coints 1,500 976 (524)
Reconnection fees 600 652 252
- Resale prr;er irc=o 3,200 6,306 3,106
Power purchased a,:d res?ld 24,000 2,105 (21,895)
Sale of scrap material - 8,946 8,946
Interest incme 35,000 72,852 37,852 1
Over and s4~ort - (89) (89)
Miscellanea,; ice ane - 7,220 7,220
$4,381+,790 $4,583,136 $198,346 $4,001,273
i
i
NOTE: Prior year's detalitd bZ4 akdown not available,
-45-
SCIIEDL'LL V1
ELEI IitIC SYSIFX Ftt.U
APPROPRIATIONS AND E;RF'FNUIICRLS' AND 11N' U' 'M A:J
0111 OF DENPIN, IU Ati
Year Ended September 30, 1970 Fxpenditures and
Expenditures and Encumbrances
Acco.nt Appropriations Encumbrances Prior Fiscal Year
Ei.ECIRIC PEODICIION
Salaries and wages $ 299,069 $ 292,000 $ 267,191
Supplies 23,184 29,549 33,143
ko ccr t! 11!1 71 9Q~
Fuel frr electricity productinn 836,958 887,357 744,560
Services 37,620 34,286 3,697
Sundry - 319
Capital outlay 19,859 __17.,032 18,086
1,245,356 1,301,673 1,099,073
ELECTRIC DIS1RIK TION AND METERING
Salaries and wages 313,707 3Q5,226 250,346
Supplies 7,700 11,535 17,553
Maintenance 49,910 51,145 37,189
Services 38,089 38,431 38,781
3nndr,y 1,000 1,269 196
Capital outlay 213,993 354,873 290,883
624,399 763,479 634,948
FRO RAIA SHARE OF t:T11,I1Y
ADMIN15TRAIiON f,\'':NSE.
Salaries and wages 49,405 49,970 40,534
Supplies 2,056 2,650 1,558
Maintenance 1,340 1,421 932
Service 19,862 18,140 13,915
Sundry 16,993 17,795
Ecnnomi:: dcvelopmcnt 26,666 31,802 22,003
! Capital outlay, _ 800 820 2,703
117,122 122,599 81,645
NONDEPARThtEN1AL EXFF.NDII'CRES
Interest and redemption
requizements 1,057,325 1,057,325 475,164
Transfer to Ccneral Fund -
Administrativ: Services 238,928 234,807 208,754
Return on net Investment 629,373 629,373 545,254
:119 ,ranrc 58,000 42,387 56,049
Bond insurance expense - 6,289
Equlty in loss of Working
Capital Fund 108,133 38,865
F'ruvlsicri for uncollactible
,accquntF 26,577 13,428
1,983,626 2,104,891 1,3374 514
$3,970,503 $4,292,642 $3,153,180
-46.
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SCHEDULE VII
YE t'It;rU r 1t'A! A I-Xj{
1
I
Year Ended September-30, 1970
Actual Over Revenue
Estimated Actual, or (Under) Prior Fiscal
Revenue Revenue Estimated Year
WATER FUND REVENUES
Customer sales - residential $ 539,000 $ 533,385 $ (5,615) (See Note
Customer sales - commercial 406,000 350,815 (55,185) Below)
Penalties 12,000 18,298 6,298
Intra-governmental 30,653 36,F34 6,231
Tapping fees - water 19,000 18,970 (30)
Reconnection fees 500 - (500)
Sale of scrap material - 159 159
Miscellaneous inccm,e 200 37 (163)
Interest incur e 5,000 _22,680 17.680
1,012,353 981,228 01,125)
SEVER FUND khVENVES
Customer sales - residential 195,656 192,623 (3,033)
Cu tomer sales - c,mrnerelal 127,144 121,649 (5,495)
Tapping fees - sewer 6,000 5,435 (565)
I Sewer extension, 11500 1,365 135)
330,300 321,072 (9,228)
$1,342,653 $1,302,300 $(40,353) $1,242,451
I
NOTE: Frior year's detailed breakdown not available.
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-47-
scNeol:Le vi11
[JAIEH A.'JD SFWi:H SFSCl`Pf llti0
AP:FOYRIAITrNS AND EXPE^EUII' PF°S ARU ESI'INt cAD:Cr'S
C I I y oP DEN10S, iE.(',S
Ycar Ended September 30 i 970 Expenditures and
Expenditures and Encumbrances
Acc1jilt Appropriations Encumbrances Prior Fiscal Year
WATER PRODI.ClION
Salaries and wages $ 61,305 $ 61,152 $ 57,157 1
Supplies 111,287 48,762 51,197
Maintendnce 7,797 7,022 4,381
rrvo,ctian power ~ 52,417 50,884 48,535
ServileS 26,572 25,879 5,053
Capital outlay 2,527 4,679 135
181,90) 198,378 166,458
WATER DISTRIBUTION AND METERING
Salaries and wages 105,380 102,8-3 96,071
Supplies 5,937 6,288 5,591
Maintenance 28,906 23,402 28,244 J
Services 21,566 19,942 21,134
- Sundry 65 68 578
Capital outlay 179,519 284,871 147,812
341,373 437,414 299,430
SEWAGE TREATMENT AND DISPOSAL
Salaries and wages 54,889 51,655 49,422
Supplies 5,917 4,445 5,127
Maintenance 4,444 4,362 2,550
Production power 12,854 11,262 10,558
Services 2,410 3,529 1,254
Capital outlay 3,625 3,906 430
84,139 79,159 69,341
SEWAGE COLLECTION
Salaries and wages 103,368 105,065 79,768
Supplies 7,099 6,822 6,326
Maintenance 20,967 14,185 10,173 I
Serviee5 24,534 24,703 25,453
Sundry 200 275 1,935
Capital outlay 521920 71,606 18,661
209,088 222,656 142,316
-48.
SCRF.DL'LF. VIII (Cont`d)
WATER A?,0 SFl,9(R 91'5TCPI FUND
APPROPR1AM)N'S AND EXPFNDIRRF:S AND r,NCE~tiIERAN~'f:F
CfTY OF DEMON, 1F.7(AS
J
Year Ended September 30, 1910 Expenditures and
Expenditures and Encumbrances f
A. count Appropriations Encumbrances Prior Fiscal Yenr
PRO RATA SM RE OF UTILITY
ADKINISTRATION I'XPENDIIURE
Salaries and wages 24,702 24,981 20,267
Supplies 1,028 1,325 779
Maintenance 670 710 466
Services 9,930 9,069 6,958
Sundry 8,497 8,897 -
Economic development 13,334 15,901 9,575
Capital outlay 400 1,226
58,561 60,883 39,271
NOI:DEPARIMENTAL EXPEND1711RES
Transfer to General Fund -
Administration 79,643 78,269 69,584
Interest expense - 1,817 -
Return on net investment 182,427 182,427 169,831
Insurance 14,900 4,500 5,953
Interest and redemption
354,667 354,662 151,969
requirements
Equity in loss of Working
Capital Fund - 20,799 36,510
Bond insurance expense - - 6,459
- Provision for un,)llectiblc
7.480 7,151
accounts
_ 631,632 649,954 447,457
$1,506,698 $1,648,444 $1,164,273
1
-49.
SCHEDULE Ix
RI{l'EGYE Bc,;~u hf`.i;l tiJb'e'x'.r,h.
CIl'i cF U1:'C!1`, TE:\AS
Septeml,et 30, 1970 r
J
Electric System Fund:
Cross rev(-nuo $4,591,880
Maintenance and cpcrattag expenses
(excluding bond interest and depreciation) 2,102,430
NET REVENUE $2,489,450
Largest annual debt requirement (1972) $1,353,906
Debt coverage 1.84
Water and Sewer System Fund:
Grass revenge $1,307,050
Maintenance and operating expenses
(e.-.cluding bond interest snd depreciation) 1_624,482
ATT REVENUE $ 682,568
ih
it
Largest annual debt requirement (1972) $ 360,475
Debt coverage 1.89
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SCHEDUIE
CITY OF DISNION, 11,XAS
Septc•m`.1er 30, 19'i0
Interest Maturity
I Rate Date Amount e
GENERAL FUND operating Fund:
Time certificates of deposit:
Denton Federal Savings and Loan Association 5-1/4% Note $ 10,000
Nort'r, Texas Savings and loan Association 5-1/4% Note 10,000
$ 20,000
ELECTRIC SYSTEM FUND
System Fund:
Time certificates of deposit:
Denton Federal Savings and Loan Association 6% Note $ 10,000
North Texas savings and loan Association 6% Note 10,000
Open time deposit - First State Bank of Denton 6.3% 9.30-71 200,000
$ 220,000
Revenue Bond Debt Service:
Tine certificates of deposit:
Denton Federal Savings and Loan. Association 5-1/4% Note $ 10,000
Norti Texas Savings and Loan Association 5-1/4% Note 10,000
$ 20,000
Revenue Bond Reserve:
Time certificates of deposit:
Denton Federal Savings and Loan Association 6% Note $ 100000
North Texas Savings nod Loan Association 6% Note 10,000
Open time depnsits - First State Bank of Denton 6.3% 12-31-70 917,000
Open time aeposits - First State Bank of Denton 6.37. 5-30-71 17,558
Open time deposits - Firs. State Bank of Denton 6.3% 7-31.71 13,393
967,951
U.S. Goveriwrent obligations:
- U.S. Ireas-iry Notes (market value -
$79,950) 5% 11.15.70 80,000
U.S. Treasury Bvnds Gnarket value -
$41,611) 4.1/8Y, 11•15-73 44,844
/ 124,844
$1,092,845 1
Revenue Bond Gonstrvcttt...
Open time deposit • First State bank of Denton 4% 12.30-70 $ 175,000
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.51.
SCHEDULE X (Cont'd)
INVESTMENIS - ALL FUNDS
Cln OF [IfNiJ\. 18,XAS
Septemher 31), 1970
Interest Maturity
Rate Date Amount
WATER AND SEWER SYSTEM FUND
System Fund:
Time certificates of deposit:
Dent.m Federal Savings and Loan Association 5-1/47. Note $ 10,()00
Norti, Texa- Savings and Loan Association .5-1/4q Note 104000
$ 20,000
Revemie fiord Debt Service:
Open time deposit - First State Bank of Denton 4% 11-30-70 $ 37,000
ReVem]e Pond Reserve:
' Time certificates of depusit:
Denton Federal Savings and Loan Association 6% Note $ 10,000
North Texas Savings and Loan Association F% Note 10,000
Open time deposit - First State Bank of Dc ton 6.3% 12-3I-70 330,000
Open time deposit - First State Bank of Denton 6.3% °-30-71 5,294
Open time deposit - first State Bark of Denton 6.3% 7-30-71 4,911
` $ 360,205
MOIOR POOL FUND
Operating Fund:
Time certificates of deposit:
Dentun Federal Savings and Loan Association 6% Note $ 10,000
+ North Texas Savings and Loan Association 6% Note 10,000
Open time dapoiit - First State Bank of Denton 4% 12-30-70 100,000
6 120,000
SPECIAL REVENUE, TRUST, AND AGENCY FUNDS
I
Open time deposit - First State Bank of Denton 6.3% 7-15-71 $ 494
Note: time certificates of deposit;, are automatically renewed for six-month periods
until cancelled.
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INSUW CF 1N VOA1 'I.
MY OF DFNION, 1FXAS
Septemhcr 30, IWO
Policy Expiration
InSl,•ancc C~nnpany Number Date
The Home Indemnity Company NB-JI-3727 9-18-7I
the H?ne I.demnity Company N-32-63-11 10- 1-72 J
1
Gulf Tnsurance Cocipany SCP5292715 12-18-72
i
Continental Insurance Umpany IM114-38414 9-20-71 1
Continental Insurance Company F6006359 10- 1-70 ,
The Fidelity 6 Casualty Co. of N. Y. PG2728466 2-24-71
The Fidelity & Casualty Co, of N. Y. IMH4-01466 11- 1-72
Commercial ins,rarce Company 23F6006360 10- 1-70
Commercial Ins+irance Company 23F6531844 10- 1-70 J
i
Gulf Insurance Company GH5413017 1- 1-71
I
'tiro City Fite Insurance Company 46ESBOO5395 10- 1-71
Employers Casualty Company A-551513 1- 1-73
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w
TABLE 1
Cu, .[48L, Amount or limit
Faithful performance bond - tax assessor $ 10,000
Faithful performance bond: City Manager 72,500
Director of finance! 72,500
Each employee 2,500
Assistant ity manager 72,500
Robbery outside premises 1,6fi5
Robbery inside premises 2,000
Sound equipment at civic center 10,241
Fire and extended coverage on utility systems, 12,400,000
buildings and contents 90% coinsurance
Comprehensive glas-, policy - city hail Total loss
Utility accounts receivable - destruction of records 660,000
Fir,- and extended coverage on buildings and contents 1,623,500
not otherwive covered 90% coinsurance
j Fire and extended coverage on library building, city 1,043,468
I hall and contents 80% coinsurance
Public liability:
General:
Bodily injury 100/300,000
Property damage 50,000
Automobile:
Bodily injury 100/300,000
Property damage 50,000
General boiler and machinery 50000,000
Workmen's compensation 20,000
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TAbLF 11
ASSESSED VALI'ATICEN,9 AND TAX ASSKSSED
CITY N PIN!0N, IEXAS
1'ca' IrulL'd _ Assessed Valuations
Sptcnhrt 30 Heal Property Personal Property Total Total
Tax Assessed
Iv6i $26,193,240 $ 6,473,065 $33.166.Ina 6 ,5. - \
IQR r.+~ru,.a+ew A.r wll,A>Ah49i'WxVAa Amfjao{` -
LJU „ JU 36,775.174 5510628
I 1'3 b3 32,167,638 7,779,232 39,946,870 599,203
1965 36,105,470 7,230,770 43,336,240
196 39,713,490 8,836,110 650,044
1966 42 978,6)0 48,544,600 728,244
1967 4. 9,494,495 52,473,105 787,096
,403,190 11,255,685 58,658,875 879,883
1968 49,367,720 12,222,198 61,589,918
1969 52,065,360 14,934,931 67,000,291 1,0923,849
05,004
19;n 55,417,040 15,65P 946 71,076,036 1,066,141
i
TAX BATES
The constitutional and statutory tax rate limit, including debt servtce,
1s 52.50 on each $100.00 of assessed valuation. The City of Denton's tax rate is
$1.50 on each $100,00 of assessed valuation. The assessed valuation is 40% of trLe
estimated value.
TAX 11C E DRIES AND PENALTIES
Tuxes are due on October 1 and become delinquent on February 1, Taxes
may be Laid in two installments, one-half by December 31, and the balance before
Ma nh 31. Penalties due on delinquent taxes accrue: February 2%, March 5%,
April b'., May 7X. Interest on delinquent taxes in addition to penalties, accrues
at the rate of J7; per month. No discount is allowed for early payment,
T
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Table III
TAX ASSESSMENT AND COLLECTIONS
- CITY OF DENTON, TEXAS
Collection of
Year Eidad Total Currcnt Year's Percentage of Levy
Septomlcr 10 Assessment* Taxes During Year Collected During Year
1961 $ 480,45(1 $462,634 96.297
1962 549,807 501,956 91.30
1963 598,710 545,358 91.09
1914 648,283 608,596 93.88
1965 722,718 683,137 94.52
1966 785,322 732,325 93.25
1967 877,537 811,554 92.47
1968 923,849 873,030 94.49
1969 1,005,004 930,679 92.60
1970 1,057,259 994,426 94.10
k:otal tax levy figures are adjusted to include
debit and credit memos and the effects.
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_ TABLE IV
MISCELi.SNEOiS STATISTICAL DATA
CITY OF DEMION', TEXAS
September 30, 19'ib
Area of City 28,83 square miles
Date Of incorporation September 26, 1866
Form or government Council - Manager
Iutal lity employees 503
Y e a r E n d e d S e o_t e m b e r 3 0
1966 1967 1968 1969 1970
Estimated population 36,000 38,500 39,000 39,000 38,865
Tax rate - per $100
valuation $ 1.50 $ 1.50 $ 1.50 $ 1.50 $ 1.50
Assessed valuation $ 58,658,875 $ 61,589,918 $ 67,000,291 $ 71,076,036 $ 76,946,640
Electric. production
(KW11) 198,346,800 217,275,500 239,672,011 273,621,'451 300,291,140
Electric customers 10,586 10,750 10,9'0 11,050 110016
Water prodvction
(1,000 3allvTis) 1,507,456 1,717,276 1,704,250 1,939,516 2,340,737
Water customers 9,602 9,750 9,950 10,050 10,177
General Fund revenges $ '.,504,474 > 2,021,888 $ 1,174,935 $ 20655,172 $ 2,875,470
General Fund
ezpendih,res and
cncur,lrances $ 1,664,849 $ 2,054,773 $ 2,034,625 $ 2,474,934 $ 3,024,464
11
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-57.