HomeMy WebLinkAbout12-31-1971
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AUDITED FINANCIAL STATEMENTS AND OVMR FIND," IIAL INFORMATION
FIREMEN'S RELIEF AND RETIREMENT FUND
CITY OF DENTON, TEXAS
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December 3£, MI _
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CONTENTS
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1 - Audited Financial StAtWents;
Page 3
r~ Accountants' Report
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Statement of Assets Available for Benefits
Statement:of Changes in Assets Available for Benefits 5
Other Financial Information; {
4 schedule of T.timCments ; 6
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E``; N_aT & ERNST
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rORT WQPTFI,'r EXAS 761()2.
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Board of Trustees
N romen's Relief and Retirement Fund
City of Denton, Texas
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We have examined the Statement of Assets Available for Benefits of the
Firemen's Relic' and Retirement Fund of the Cfty of'Denton, ` Texas, as of
December, 31, 19111 and the related Statement of Changes in Assets Avatla-
ble for Bsnofits for the year 'then ended, Our examination was mndo in'
accordance with generally accepted auditing standards, and accordingly
Included such t'esto of accounting records and such other auditing pro-
cedures as we considered necessary in the circumstances, A a milar
examination wac made for the precedlug period,
In our opinion, the accompanying Statement of Assets Avaiiabl.e for Benefits
and Statement of Changes in Assets Available for Benefits present fairly
i the assets available for benefits of the Firemen's Relief and Retirement"
for of the City of Denton, Texas, at December 31, 19711 and changes therein
Ir the year then ended on s basis consistent with that of the preceding
period,
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'rho other financial information inoluded in the Schedule of Investments was
derived from the accounting records tested by us as a`prrt of the auditing
procedures followed in our examination of the aforementioned financial, state-
ments, and in our opinion it is fairly presented in all materihl respects in
relation to the financial statements taken as a whole,
March 30, 1972
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STATEMENT OF ASSE'1'S AVAILABLE FOR BENEFITS
FIk"MEV' S RE1.7.EF AND RETIREMENT FUND
CITY OF DENTON, TEXAS t
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December 31 December 31
Cash 1971 2970
$ 4,675.23 $ 4,350.77
Inveatmentat
Certificates of deposi.ta
Cartikicates of savings 55,254;70 55054,70
Bonds 91000.00 1130,000,00
Cowan stocks, at cost (quoted market a,d00,pU
1971 " 047,00,001 1970 " $21,331.50)
43,915.1l
17, 827+..97.
221,435,33 184,019.61
Interest Receivable on Investments
4,338,56 .4,274.83 '
llue from Other Fundai
i General fund ;
Payroll fund 1:,759,18
4,771.10 1,759.18
4;771.10 31518.36
ASSETS AVAILABLR' FOR BENEFIT`S $235 220.22
~ $19b,2?x
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STATEMENT OF CHANCES IN ASSETS AVAILABLE FOR BFNEFTTS'
FIREMEN'S RELIEF AND RETIREMENT FUND
CITY OF DENTON; TEXAS
Fifteen
Year Ended Months Ended
Decomber 31 December 31
1971 1970
Contributionn:
' Participating employees
City of Denton, Texas $ 17,671,88 $ 210707.79
1,671,88 21,707.79
35
,343.76 43,415,58
income from investmants:
Intereet
ax,
It Dividends on common stock 12,369.04 110386.89
Y,398.87 8690$7
13,767,91 12,256476
Pro rata share of gross fire insurance pro-
1 mium receipts tax distributed by the State 1,~55~ g 78 ~6738.65
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J 50,671.45 57,410.99
t Leas:
Retirement benefits 1.0,247459 10,470.89
Contributions refunded to employees 537.47 2,087,71
Cost of Actuarial study 30000,00
r, Lose on sale of stock
f ( ~ I' 880 .74
116674.80 15,558,60
NET INCREASE IN ASSETS y
AVAILABLE FOR BENEFITS 386996.65 41,852,39;
Assets available at beginning of period 196,223.57 154`937141.8
ASSETS AVAILABLE AT END OF PERIOD $2330220.22 $196,223,57 t
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SCIIF.DULE OF IWFSTMKNTS
yA VIRPOWN' S RELIEF AND RETIRWENf FUND
CITY OF DVNTON, TEXAS
December 31, 1971
j interest Maturity
Rate Date Cost or par
Certificates of Deposits
I; Denton County National Bank 5-314% 1-26»72 $ 15,000,00
Denton t'ounty National bank 5-3/4 3.10-72 5,254,70
First National !'lank of Denton 5-3/4 1-20-73 5,000,00
First National Bank of Denton 5»3/4 2-19.72 100000,00
First State Bank of Denton 5-3/4 1.20-73 5,000,00
5-3/4 5-9.72 50000,00
First State Bank of Denton
University State Bank of Denton 5-3/4 1.21-73 5,000.00
University State BAnk of Denton 5»3/4 10-30.72 5,000,00
55,254,70
Certificates of Savings;
Denton Federal Savings & Loan 6 1-1-'73 151,000,92
Dentou Federal Savings & Loan 6 1-1-73 ,264,02
North Texas Savings & Loan Association 6 1-1-72 15,000 00
31,264,92 I
Corporate Bonds
Federal Home Loan Bank Conat, Honda 8.2/5 1974 50,004,00
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Columbus & Southern Ohio Electric 9 1975 5,00000
Southern, Natural Gas 9»1/8 1976 31000,00
Soutbweatern Bell. Telaphone 8-3/4 2007 9,000.00
^ International Narveatov Co, 8.5/8 1995 41000100
Public Service 8lectti,c Oaa 9 1995 5,000.00
PacificNorthwest Bell Teleyhone 8-5/a 2010 5,000.00
Tampa Blectric Co. 7-1/4 2001 5;000,00
i Iowa Public Service 8 2001 5,000.00
91,OOo,OO
Number Market
of shares value
3 Common Stocks
Bank of America 100 $ 7,100,00 6,315,06
Broadway Tula Stores too 4:650,00 4,104.25
General Foods Corporation 200 7,175,00 7,207.12
Gulf Oil Corporation 100 2,887,50 2,948175
} Krafrco' i00 4,675.00 40293,93
Lone Star Gan Co, 100` 2,700.OU 21596,75
Oklahoma Natural (lag Co. 100 2,050,00 20052.25
Schering-Plough 100 81587.50 80266.07
standard Oil of New Jersey 100 7,375.00 6,131,53
$47,200.00 43,915.71
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$221,435.33
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