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Home My WebLink About1975 - 1976 City of Denton, Texas r I x 1 , ~ u. {11 f. r i Ty A p - III I Y 1 I M. V Financial Report r Fiscal 1975.1976 i J ter. i I f t 7 a 1 f. MEMORANDUM OF ADVISORY COMMENTS CITY OF DENTON) TEXAS I i l ~ I { l I 4 A14i~3 yY~ 4 1 i k,. k E V INItANAl10" .PIAMTAN(fLEY WITT Alexander Nut aOAMPANY AL&XANOflH GRANT j i7 GEfi Ti pfBD PUf3 L10 AOOOUNTANTS u December 1978 y j t I 'i. or and City Council j Honorable May Texas City of Denton, l examination of the er 30) 1976 In connection with our r 30, , statements of the City of Dentoll, Texas as of Saptom us internal procedures and aontrolra ointhe City did not we reviewed vario , to establish the scope - of our examiofnation submit and t g in order t the purpose comprehensive review for make a detailed reoommendationa we noted Certain. area pg a result of our review, `henedtere shou be Considered and ; h This memorandum summarizes Our p Id where financial and . `is strangt internal controls Comments and suggestions 'i Wo have already dloo sthe CCitynmwe willnbespleaded to II orally with various personnel l r , discuss them further, i k r , I a 3 + 1 { ONE MAIN PLACE DALLAg, 7X 7628~J (214)748,0100 q •n. . ins..,, , a f v i Cash Balances some of its The City has commingled the cash from funds (inoluding the General, Motor Pool, Electric System f Operating, Electric System Extension and Xmprovemont, Water and i X11 Sewer System operating and some other funds) into a common ,'operating account" from which the general operating expenses i . of the City are paid. This method of cash management has ~ several advantages Stich as: (1) minimizing the cash on deposit in checking accounts and thereby maximiting cash available for short-term investments and (2) reducing clerical time by utilizing E only one series of checks, preparing daily deposits to only one ~ I account and preparing only one monthly bank reoonoiliation, How- E ever, there are certain disadvantages involved which we would dike to bring to your attention, 1 , One disadvantage relates to the fact that certain funds, which should be segregated because oi' ordinance provilsions or grant award covenants might be inadvertently combined in this a used for other than the speoified purposes, account and thereby ~ This has happened in the City's oasm with the Electric System Extonsion and Improvement Rind, Under the terms of the bond fund is to be used only for improvement of the ~ this ordinance, r Electric system or early payment of callable nds. However, since it was combined with the operating fund, it has boon used I to pay the operating expenses of the other tunds, which is a violation of the ordinance. 7 7 1 Moo mft" Another disadvantage is that this System makes it easy to overlook the cash deficits on the individual funds when they become significant and frequent, or even perpetual, over the last several years, the utility operating funds have developed signifi l pp7 cant deficits in their portion of the operating casks pool, TO illustrate how significant this deficit is, as of September 300 1978, the deficit in the Water and Sewer System Fund wav in excess of $915,000 (more than 40% of the gross income of the system=for that year) and the Electric System Fuhd's dofioit was approximately i $2,460000Q (approximately 20% of the gross revenue). These deficits have boon funded by positive cash balances primarily I ,I from the Electric System extension and Improvement Fund and tho 1 Motor Pool Fund, ~ We recognize that these deficits have accumulated over a period of several years and, consequently, cannot be oliminated in a short period of time, However, we believe that immedit%te steps Should be taken to begin to eliminate the deficits on an individual fund basis, Some possible alternativee have been discussed with management of the City and are summarized as follows; (1) Increase rates for both eloatric and water sewer charges in amounts adequato to pro- vide the necessary casli flow from operations; taking into account the payments required to the various debt- service funds, L I f, r ~..y~:.t. ~......:..1...... 4. V p i y (2) Reduce or eliminate the transfer from the utility :funds to the General Fund until f Such time as the operating account in each utility has adequate cash flow to make dn~i such payments (refer to the section on "Ynterfund Transfers" for further dincus- sion), This wculd, of course, necessitate an increase in other sources of income, most probably property taxes and garbage fees j (3) Refund the electric' revenue bonds, thereby eliminating the 12,-I/2% transfer of gross 14 re-venue to the Extension and Tmprovemont Fund which would allow the amounts previously i segragated, for accounting purposes, to be I offset against the Eleotrio Operating .Fund deficit. ! r (a) Repay the original investment in the Motor' I Pool Fund back to the utility funds, ;Since I the Motor ,Pool.find cash is included in the r operating cash pool, there would be no effect on the available cash to the but Would reduce the deficit position Ln the individual funds, s (g) Reduce expenses, possibly oausing some serviced to be ourtailed, i { le 11 i i YN Ftla ~ 4Interfund Tral'Sfora The City currently budgets two types of transfers from 4 the utility funds to the General Fundl (1) an administrative { charge and (2) a return on net investment. i The administrative charge is determined by allocating varying percentages of 'certain General Fund departmental expen- ditures to the utility funds. This allocation is then sprit be- tween the Electric Fund and Water and Sewer Fund based on thf) relative percentage of that fund's revenue to the total utility ~ i revenue, In our discussions with management, we learned that the f various percentages were determined more than five years age and have been consistently used from year to year, While we wero able to satisfy ourselves that these percentages, on an overallbAeis$ y i produced a reasonable allocation of costs, the percentagea~ used by individual departments were found to have changed, during 9 the laot five years, in several wages (General Government, Customer Servico, Accounting and purchasing), We recommend that the City update the departmental percentages, This update should be accomplished by analyzing, for a representative period E of timo, the estimated time spent by each employee on the respective { funds As a minimum, this allocation should he reviewed every year to determine if changes in circumstances have ocouriled which j i would dictate a change in the percentage allocation, ! l ,f r E 1 Opp A ~ r E' i, Under the current system, employees do not allocate i their time at periodic intervals, The allocation is estimated i ~ on an annual basis, The City should consider the advisability of having these employees allocate their time each month or each r payroll period, in order to get a more timely and accurate ; I allocation, I The return on net investment is a transfer based upon ? the City Charter provision allowing up to 6% of "not investment" I in the utility systems to be transferred to the General Fund ~ from "excess revenues" of the utility funds, In past years, the City Attorney has defined and interpreted the meaning o? "net investment" in a very broad sense, The total "net investment" of the utility funds 1,noludes eontributiono from developers and other governmental units and, in the Electric System Fund the un- j lepreoiated portion of the appraisal Value increase,- During the current year, the City Attorney interpreted "excess revenues" as being accumulated earnings or retained earnings rather than accumulated cash, These Interpretations have allowed the City j+ to transfer large amountrg from the utility funds to the operations { of the General Fund evetx when the operating funds of the utilities ~f showed large cash deficits, In addition to the cash deficits discussed Above, the transfer of the normal 6% from the Water I 10 t and Sower System Fund was decreased to approximately 4% in ~ F the current year in order to avoid oreating a deficit in accumulated earnings, or retained earnings, of the Water and Sewer System Fund which, an oxcess revenues have been defined, J 1 eurr roww", 4 f h would have been a violation of the City Charter provision. While the reduction from 6% to approximately 4% dial have a significant f affect in the current year (a $100,000 reduction), the more important aspect relates to the possible effect on future years t because future transfers from the Water and Sewer System ats®~ Fund to the General Fund will be limited to the profit generated in that year, Based on the current year's operating results, the funds available for transfer for the 1077 fiscal year could be substantially loss than the maximum 6% and sub- I ; 3 stantially less than the transfers made in prior years, It should also be noted that any revenue bonds issued in the future would cause an increase in interest expense and would probably necessitate an increase in the reserve fund, Both of these in- I , i creases 'would cause a decrease in the amount available for trans- City's ~ f and sewer bond covenants require the ' water I The City to maintain net revenue of l3 ,0 times the largest annual -debt requirement, At `September 300 1976, the City's coverage was only 1,30 times, A net decrease of appvjximately $81,000 for the year ended September. 30, 1977 (approximately 7`k of net revenues) would extras the City to be in violation of this covenant, Consequently in tight of current inflation, the current operating cash deficit, the City's desire to issue additional revenue bonds, and current operating results, we believe it would be appropriate for the City to roovaluate the studies to determine if an increase in clactomer.charges is ourrently required. 1 F r i.H;L 'Ir6(p1} ;1 t r'1~k. , o- c Datr, Processing We noted that the City's data processing facility was 4 well run, The City is currently considering, and making, substantial changes in its computer facility. We recommend that I the City consider developing a formal long-range data processing 1 LO plan, This plan would cover a five-year period.and would document the City's data processing plans in the following areas; J development of now computer applications, I ~ k revision of existing systems, JI estimates of increased volumes, new computer hardware requirements, if staffing plans, and { procedures for revising the plan, 4 f We have found that developing such a formal long-range r i plan enables City management to focus clearly on the objectives ~ of data processing for all City operations and to relate the cost r and other commitments to the expected benefits, The end result is oftentimes a more cost'effective data processing installation. i Utility Mind Receivables t Due partly to the lack of definitive policies, the City's allowance for doubtful accounts (Meotrio and Water and i Sewer Funds combined) Have significantly increased in the last i several years as follows; , Allowance for ~ r doubtful accounts Year ondod September 30, 1974 $ 791600 f Year ended September 30, 1076 104,476 Year ended September 30, 1976 300,625 I d In our discussions with. the utility collection depart- i H 4 went, we noted that the city did not have definitive policios in Council has not set a policy as to F several respects, The City the service level at which consumers' utilities should be shut off for failure to pay bills. At the present time, the utilities r collection department is having to set policies for the City Another area in which the City lacks a definitive policy is the area of collection of past due accounts. At the 1 present time, the collection department is having to determine policies as to when accounts are turned over to collection agencies and is having to set policies as to when accounts are turned over to the City Attorney. We recommend that the City Council review the nature of the receivables and adopt definitive policies, Additionally, we recommend that the City consider hiring a full-time collector, E It is possible that significant savings could accrue to the City as; (1) the collection agency charges fifty percent of collections as its fee and (2) an in-house collector could work full-time on the City's accounts (including delinquent taxes), in our review of the computerized records, produced for utility receivables, we noted that there was no document which We showed, in total, the aging of the utility receivables. requested and received this information for our use in the audit. We irecommended that this information continue to be furnished for management purposes, and further, that tho Council should be pro- vided with this information on a monthly basis, This would provide i v A tool to determine the quality of receivables on an overall basis and help identify possible problems in time to take effective corrective action, ;I L J Traffic Tickets i Under the City's current procedures, a police officer signs for all ticket books issued to him, As the tickets are used, they are returned to a departmental clerk who lists the tickets ' and forwards the lists and the tickets to the court cloilk, The I court clerk then verifies the information listed and then forwards ? the tickets to the computer center for use in printing the court docket, These procedures do not provide a step to ascertain that all tickets in the books issued to an offdner are returned i for processing, We recommend that such a procedure be instituted f ( ~f to provide reasonable assurance that all `tickets issued are properly included on the docket for consideration by the court,' Emergency Pura} a; sc~s ~ The City's current purchasing procedure, provides that purchases over a stated dollar limit, will be made by purchase i order after a purchase requisition has boon prepared and approved j by the finance department. However, in certain oases, where w purchase iy doomed to be an "emergency," the item is purchased k before a purchase order is issued and, therefore, all documents ' are genernted "after the fact." bring our review of the dis- f: lutrsemento) we noted that there appeared to be an unueuctly large ti gnu _ - 'All i S. .L 7 r 1 y number of these "emergency" purchases. While we realize some purchases must be made on an emergency basis, this should not be used as An excuse to circumvent the regular purchasing procedures i and we recommend that exceptions to the prescribed procedure be i kept to a minimum. I E I I 1,1 ~ rEr+U. , 1 1 r Y . t j 1 FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION i CITY OF DENTON, TEXAS i~rl September 30, 1976 . i r ! o 1'H`'yf,J 4 3 I r . ~ ~Nili.•i Prr,~^~s,.f-~ „ . wr,r1<iev , I , Icy{, S:. fl 1 i MCI 9 t C O N T E N T S Pagt B LETTER OF TRANSMITTAL ; vINANCIAL STATEMENTS AND AUDITORS' REPORT y AUDITORS' REPORT SUPPLEMENTAL INFORMATION 14 COMW NED BALANCE SHEET -ALL FUNDS GENEPAL FUND FINANCIAL STATEMENTS 18 ; BALANCE SHEET STATEMENT or REVENUES AND TRANSFERS, . EXPENDI't'E1RE,S, AND ENCUMBRANCES Y9 19 STATEMENT OF CHANGES 114 FUND BALANCE 20 SUPPLEMENTAL INFORMATION 21 9yA STATEMENT OE1 "SUDGE7VED AND ACTUAL REVENUES AND TRANSFERS STAT)O NT Off` OPROPRIATIONS AND EXPENDITURES 23 ~ AND ENOIMSRANC S a ' SpNCYAL RBVME pumps` ` F'1NANCIAL STATEKtXTS 30 BALANCE SHEETS 4 STA'fEMEtyTS OF CIlANt30 IN FUND BALANCE 32 t GENERAL DEBT HR'VICE FUND FINANCIAL STA'I`goNTS 34 BALANCE ,SHEET EXPENDITURES AND' ; STATI~EN'D,OF REVENUE) 35 FUND AALANCE i 1. CAPITAL PROJECTS rumps I VINOCYAL 9TATF'MEN't8 38 r 34, BALANCE SHEETS STATIgurIls OF CHANGES .IN FUND tALANCE i 1 :1 I P'l y Rjd1A,+1P I Page FINANCIAL, STATEMENTS (CONTINUED) Y ENTERPRISE FUrDS ELECTRIC SYSTEM FUND FINANCIAL STATEMENTS BALANCE SHEET 40, STATWNT~OF CHANGES IN SYSTEM EQUITY STATEMENT OF CHANOS IN FINANCIAL POSITION 44 STATEMENT OF OPERATIONS 46 ! SUPPLEMENTAL INFORMATION ~ r~ STATEMENT OF BUDGETED AND ACTUAL REVENUE 47 ~ STATEMENT OF APPROPRIATIONS AND rXPEND%T(JRES, ENCUMBRANCES AND TRANSFERS 48 WATER AND SEWER SYSTEM FUND FINANCIAL STATEMENTS i BALANCE SHEET 50 wlI STATEMENT OF OPERATIONS" 32 ~ „I STATEMENT OF CHANGES IN SYSTEM EQUITY 54 STATEMENT OF CHANGES TN FINANCIAL POSITION SUPPLEMENTAL XNFORMATION STATEM9n 'OF BUDGETED AND ACTUAL REVENUE 58 ! STATEMENT' :OF APPROPRIATIONS AND EXPENDITURES, EN'CUM9RANCES AND TRANSFERS se r~ ~ Ian INTRAGOVERNMEN TCAt iSERVICE FUNDS FINAkrlikT~ STATWINTS BALANCE SH991PS 62 STATEMENTS OF OPERATIONS 63 STATEMENTS OF CHANOVIS IN INVESTED CAPITAL AND RETAINED EARNINGS 64 {r~ l TRUST AND ACYENCY FUND FINANCIAL STATEMENT BALANCE SHEET" 66 t .j } fi GENERAL DABT L I~ Y''INANCIAL STATEMENT X STATEM'ENT OP, GENERAL DEBT 66 r 8UPPLEMbT'AL XMRMATION STATEMENT OP MN69S IN FUTURE REQUIREMENTS 66 k4 GENERAL FIXE6 ASSETS I.; FINANCIAL STATEMENT f STATEMENT OF CHANGES IN GENERAL FIXED ASSL16 67 NOTES TO FINANCIAL STATEMENTS k , i , car 1 lys.!r.Re' ~ ! r k SI1pPL1~ENTAL IN'F'ORMATION ~ BONDS PAYABLE - ALL Ft ":1 PU"URE DEBT. FUND190 RAX,UTREMENx6 - AT,L FUNDS REVENUE Stl BOND DEBT COVERAGE 84 INVESTMENTS - ALL FUNDS 86 87 STATISTICAL DATA 7[N3CIRANC9 IN FORCE ASSESSED VALUATION AND TAX ASSESSED 92 TAX ASSESSMENT AIM COLLECTIONS t 994 5 MISCELLANEOUS STATISTICAL DATA 96 1 ' ' Il1~ ~ C 1 I ! f ~ I ! 1 1 1 1 1! ' 1 I `l 1 , I rl r I I ! ,...+e r...'a._.........-.::.. ids QrR j r. MCI t ~i t5 9 a ~ t I j " ll 1 , o-' J LETTgt OF TRANSMITTAL j v6, 1 I) f y'] ~.I 1 ~ ~ C . r / ell I I ~ I I a l , is I 'a {M rl.~vu ; 'i ..,'4.1la peal d::ryt ep. ~awan.r. mei ~krq•',~b,in(€if , I l i s a i Clity of Denton Ahai,icipal Haildi- im Dentoyl,UWM201 ~ I i January 24, 1977 t4r; Jim White City Manager City of Denton { Ironton, Texas F~ I Dear Mr. White, ! F"j The annual Financial Report of the City of Denton, Texas for the fiscal. year ! L ehdpd September 30, 1976 is submitted herewith, Aocognting S stem and R929rtq I y F T40,city !a accounting records for general governmental operations, Are main- tamed an a modifie,i accrual bAnin, with ravanuas being re"rorded when rabeived and '9ROO dituros being rooorded when Incurred, Acbounting racorda for the a~by'e utilities aria other entor~risda are maintained on a full accrual basis,! F iiil otary control is maintained by an annual appropriation nystam and the en- . j apbranog of appio riated balances with purchase brders prior to their rplaase E to vendors, purchasa,~}rders Whigh exreed allatmene 1salances are not zsleahed s until,Additional appro riations are made available, I yF~, General Govonnn~enkalunotians ~d Revenues, for tsanaral governmentol functions totaled $5,2694098 in 1975-76, an d indroaae of 7,4 paroent over 1974.75,', General pr perky taxes proft6od 19i7 p6roant of general revenues compared to 20,9 per(-'ant last year. The amount of S revatioa from various sources and the'incraaj~e over last year are shown in the following tabulation: f 1 i I fr Ll ` I ' r i + 111.A+ it Mr, Jim White increase Amount Feroent over 197475 i Revenue Source (mhaueands) of Total (Thousands) E CCU, 3 Property Taxes and Penalties $11037 1907 $ 14 Vranohise and Other Taxes 1,296 24.6 204 45 .9 7 Licenses and Permits 240 4.6 42 d Fines Forfeltsi and Penalties Charges for Current services 803 15,2 53 y utility Fund contributions 11017 19.3 (103) 1 Other Revenues 831 15.7 148 $51269 10010 $ 365 f Assessed Valuations of $124 million represented an increase of 10.7 percent over the j preceding year. The ratio Of total collections (current and delinquent) to the current tax levy for 1 1975.76 was 95.05 percent. l.i The constitutional and statutory tax rate limit, including debt service,+ is $2.50 on each $160.00 of assessed valuation. The tax rate distribution for 1975-76 and the preceding two fiscal years is as followsf E 1 1975-76 1974-1975 1973-74 Purno6e ~F General Fund .8174 8978 18960 i Interest and RedemptiOn Fund .8826 .8072 .8040 1.7000 1.7000 1.7000 '.r Total 'Tax Rats gx enditpras for general governmental purposes totaled o5T5801779, an iricreeee of, 16.1 p4roent over 197475. increases in lovels of eXpetllitureu'for " or functions of the Oity over the preoeding year aru shown in the fallowing tabulation) rncrease - Amount P$rgent Over 1974-75 Fuuo'tien ouuands) of Total ('1'housand* j General 0ovelnment 6 277 5.0 $ 35 Legal 129 213 4 .~J Community Development 311, $06 23 Civil Defense 33 .6 Pereenrns1 39 .7 34 r Fight of 04y 13 Financt 572 10 3 58 Health a gsnitation 695 12,6 102 1~ • E 1 . 444 ryv 7 f 1. u... a...+. E , 1 jE cur ~ . kF Mr. Jim Whites ~ increase s Amount percent over 1974-75 (Thou~~gands) oE_ 2bta1 (ThO_ usands-) 1 w Function°Continu~ed ~ $ 1,049 isle $ 131 147 Police 880 1518 135 (Fire 746 13 A street & Bridge 430 7.7 99 r I y ar1~s & Recreation 158 2,8 38 Library 10 62 fl4) 110 Airport 51 city-county Health Unit 58 1.0 47 Non-Departmental 16 .3 16 - 3 2.0 [ other ~ 11 . c $ ; E Traffic $ 51580 10010 776 } Debt Admini~tlon the amount of bonded debt "A ratio of not bonded debt tO assessed valuataoe.b~an~d$ tian to municipal manage' per capita arc useful ill6icators of the city's d investtre. These data for the city of Denton at the end of inent citizen s, an A the 1975-76 fiscal year were as folloWs' $309.973,383 I 1975-76 Actual valuation $123a973353 1975-76 As6608e4 valuation (40e of Actual) r $ 9,E8S~OO0 I nvtal Ge»e~.al obligation Debt}p0 438 k losai Amount Available in Debt Service $ 9,304056 Net peat 7.50% Ratio Not Debt to Assessed Valuation 460800 l IP76 94ti 4ted Population 2,649 ! : Cap4t4 Andessad Valuation 199 Per CApJtA Hot Debt `t ' During the past year S6100000 of tax bonds were retired. Outstanding $,leotrio Revenue Honds at september 30, 1976 totaled $180978,0004 During the past year $970p060 of Electric Revenue Bonds were retired. Water & Sower 'Revenue Hands at September 300 1976 totaled $6,405,O9O 1~+ out$tand,ing ? During the past year X305,000 of Water and Sewer Revenue goods were retired. F k xT z. Elio - . L i Aaegx I I 9111 a Mr. Jim White s v. i The city's bonds are rated as follows: I Moody's Standard & Poor's s 4~ s l General obligation Bonds 1 Af } Eleotric Revanue Bonds A p" Water & Sewer Revenue Bonds A A saCtE,is ti , ~ .46 of September 30, 19760 $1,968,789 was on hand in the electric reserve fund and q the sum of $479052 was on hand in the water and sewer reserve fund. These amounts t are in excess of the requireemnts as specified in the bond ordinances, 44 $ Cash temporarily idle during the year was invested in time deposits and savings a accounts. ` Capital Projects Funds f; During the fiscal year 'ending 'Saptestiber 30,1976, water and sewer revenue bond issues accounted for expenditures of $4800018 in water and sewer capital projects and electrical revenue bond issues accounted for expenditures of $836,839 in electrical capital projects, extensions and improvement funds in the amount of $3840735 ware expended for elootricai capital projects. Authorized' but unissued bonds at September 30, 1976, totaled $14,000,000 as followas General Obligation $3esgoo 000 1` Pwvenue (Eientria} $3,000,000 4 { Revenue (Water & sewer) $7,500,000 I` V Capital project fund balances on hand at September 30, 1976, consisted of $2,991,045 1 I in cash, j 1~1 r neral Fixe Aosets E The general fixed assets are those 'fixed assets used in the performano of general I governmental functions and exclude the fixed'ass0te of utility and other enterprise k' funds, As of September 30, 1916, the general fixed assets of the oity ampuntsd to a k i t J $17,6$20235. This amount represents the original cost of the assets and in con si,derably lees than their present value, Depreciation of General fixed assets is f ` not recognized in the city's accounting system. 1 3 S 1 i • ~ _ fl a Mr. Jim White ~ I ` u Utilities System S The city's electric system had a successful year and cort• ,^d to show. gains in gross sales. The water & £jwer system had an increase in gross sales and a net gain. Comparative data for the past two fiscal years are presented in the e following tabulation.: t 4 Electric System 1976 1975 !F Gross income $13,669,854 $9,763,787 Net income 2,1591627 10387,103 r Income Available for Debt service 4,054,217 3,2871120 Largest Annual Debt service Requirements 1,834,791 1,867,2;:7 Debt service Coverage _ 2.21 1.76 1 water & Sewer system 1976 1975 Gross income $2,323,868 $1,886,36,1 I, Net Income 50x054 (151825) Xncome Available for Debt service' 907,359 7600032 Largest Annual Debt service Requirements 651;467 651,467 j Debt Service Coverage 1.39 1.17 The'City Charter requires an `annual audit to be made of the books Af'acount, financial recordo? and transaotions of all administrative depaktments of the city ~ by aIbertified Public Accountant selected by the City Council, This requirement I -has heed 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 acooef0lish9d without the e£fioient end dedicated gervicea of the entire staff of the Finance,Departshetit. III I should like to Axpress my appreciation to all MMI- rs 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 conduct- ing the financial operations of the city in a responsible and progressive a+enner. f 1.J Respectfully submitted, ' W.H.. Bryan Director of Lrinsince i 10 4~d t 'y l , 1 F S , EE FXNANCiAL STATEMENTS AND AUDITORS' REPORT 1 I; ~ J Or" f. 1 i. ~1 , re, i7a, ti 11 Jifr:f i5 1 Alexander grant 3 z• b 00MpANY INTEANATIONAL FIAM CERTIFIED PUBLIC AICOUNTANT8 ALEXANDER GRANT. TANALEY WITT Honorable Mayor and City Council City of Denton, Texas ccxV' We have examined the financial statements of the various r 1. funds and account groups of the City of Denton, Texas, as of and for the year ended' September 30, 1976 as listed in the foregoing table C t of contents. 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 con- 1 sidered necessary in the circumstances;, I The net carrying value of the, electric system utility 'plant in service was increased to the appraised replacement value less depreciation as determined by independent consulting engineers at September 30, 1967. The increase in carrying value is being amortized ,i directly to unrealized increment in valuation of utility plant in I I service, Such amortization during the year ended September $0,1976 trfs, was $283,1$8, and the remaining excess! of recorded appraised Value over acquisition cost at September 30, 1978 was $2,303,069, The recording of appraised values in excess of cost is not in conformity fr with generally accepted accounting principles, in our opinion, except for the matter described in the { preceding paragraph, the aforementioned financial statements present 3 fairly the finanoial position of the various funds and'adcount groups of the City of Denton, Texas, at September 30, 1976 and the results k of their operations and the changes in financial position of the Paz' Enterprise Funds for the year then endod, in conformity with generally accepted accounting principles applied on a basis consistent' with that of the preceding year Our examination was made primarily for the purpose of formu.- lating the opinion stated in the preceding paragraph. The supplemental information as set forth in the foregoing table of contents, although not considered necessary for a fair presentation of financial position, xti or results of operations, is presented as supplemental information and, has been subjected to the audit procedures applied in the examination of the basic financial statements. In our opinion, the supplemental q information is fairly stated in all material respects in relation to ,t the basic financial statements taken as a whole, The statistical data on pages 92 'through 96 has bean summarized from City records by City employees and was not subjected to the audit procedures applied 'r in the examination of the basic financial statements. Accordingly, we s o do not express an opinion on such information, Dallas, Texas December 17, 1978 f}r~ ONV MAIN PLACE DALLAS, TX 75250 (214) 748.0100 1 t` E ~ ~ i - jjj~~~111 F THIS PAGE LEFT BLANK INTENTIONALLY ~ w c~ i f t 13, # ! PvM•.>i,•o.dpW 1 I rj' - ~.wr 7r r _z City of Penton, Texas b COMBINED WANOE SHEET - ALL nNDS ri s September 30, 1976 General Special Debt Capital, General Revenue Service Projects ASSETS Fund Funds Pend Funds F I Cash $ $ 39,996' $ 21481 $ 169,329 Equity in pooled cash 211,042 60 866 TiMe deposits And accrued interest 2363107 2780357 211229116 Receivables - net 343,614 l90 233 323,273 Due from other funds 260216 - - 407,373 Inventories - - - - Prepaid expenses 11'~ 744 - Deterred cost on bone Star, Oaa deficiency payment - - - - ;d~. ltestrtCted Assets Prbper,ty, plant and equip"nt net InVeist*,ont in other funds i Atiount Of future require- Mints fox retirement o } general debt Asount available ;for debt - service y $5910 516 $301,196 $280,438 $30112j O91 J . i 14. 4,. t 71 Intra- Trust j., Electric Water and governmental and General system Sewer System service 'Agency General fixed, Fund vend Funds Fund debt asente.-- - $w $ $ $168,600 $ $ w i1 - - 804,'764 - - l±J - 26, 821 2 463 315 10,601. 38, 099 '221620 770 - - 366,234 - 4671298 13,716 3,033 383 I I>: 1, 234; 092 0$4, 326 $19, 707 (';1 27p736;636 1"L1722, 433 11 101, 295 - - 17, 682, 236 3060296 243,766' 11,445. - ui - 9304,562 280)1 438 86 $12, 8221060 $2, 412, 776 $158, 600 $g 585, p(10 $17, 6820 x35 $390201t6 Iv I t 1 e 1 a} F t I k, 16 I , Erg } i It I , 1• E.• i i. j, It 1 1: 6 +lty~ t City of Denton, TOXAe , h COMBINED BALANCE SKEET - ALL FUNDS (CONTINUED) September 30, 1976 ! LIABILITIES, RESERVES, General ~w C6NTRIBUTIONSI FUND special Debt Capital BALANCE AND General Reve?dus Seivioe Projects' i RETAINXob EARRINGS Fund Ddb Fund rundd ~ I Deficit position in led cash _ - - , A&I nts payable and $ $ $ $ W k adotued'payroll 149,916 40440 102,186 Liabilities payable i 'f row restricted assets - - Deposits Lame Star Gas deficiency I pt~ yre~tn t - - - Bondei 1 debt :I Due to other funds 100489 90481 - 427!896 Re~servee 3440599 210965 I86; 684' ' r~111ent tin eal "ged in ~Auatit~p of utility Iikant'an ebxyioe, - fnveAiti6nt by other funds - w F Inv"tmen'. id general ; fixed `assts W - eoutki`i' tionp by munici- pality and `governmental Contributions in aid of contstruntion Retained earnings - i„ Fund balances 260612 265, 304 2g0, 438 2 `396, 626 $ 501, 816 $3010190 $280)438 $3p).120091 -r~r~wrrrYrri.q w~~ lg i~' Jd';Y a r 4s [ "3 ' PPd~$}.'W s7.;•.idii{p-tik e., ak)•n ew,-,1hi , r , -s:. t,4`Yetu i>, fl.,L-GS~ „v ,f i,l.,~., . I 'fib g + V, i' .k'+}~✓Ri~1~eti,~~ r,•YH~ e k 1, AMA ILL war tt s Intra- Trust Z1,ectric Water and governmental and General _ fixed System Sewor 'System Sezlwice Agency General fund Fund Funds fund dobt assets ~ , j $ 2,445,451 $ 916,947 $ 213,832 1, 270,215 31, 855 70o203 16;1, 750 - 1,454,228 226,643 _ .189,406 - t 1 234 062 - - ~ 17,946,Ob0 6,277,601 - - 9,585,000 - `E 930340 37,881 218 20850 E 4,854,226 4800018 - E. '2, 303, 099 { ~r!r; 647 422 µ 124,944 2,18:,964 i f 7p308173 5 17,769 606, 515 - OIL, V - ru.~+y u+ru~r.u~.+ .♦~u~♦~~~r..~~ ~♦.r '-'nu+~YN•n~r-n~u rk $39,201,,686 $12,822,060 $2,4X'1,776 $158,600 $9,588,000 $17,6$20235 i ~ s`s:<'LL'Irri~r uYY~ ~YSff_w, v~W111~~I~OIL a r 17 {0 E i j I K , City of Denton, Texas a, i Ceaerat Fund nALANC.'E SHEET ` September 30, 1978 ASSE'T'S 1976 10715 { $211,442 $651,645 Equity in pooled cash (Note 0) $36,875 301,427: ! Delinquent taxes receivable (Note A5) 8,839 7,603 j Miscellaneous accounts reoeivalile 26,218 32,836 ' =11,744 14 110` ! Due from other _funds Prepaid insurance 5919616 $907, 521 ^ 2 5 RESERVES AND FUND DAIANCE LIABILITIE , ` ! $ $2141.6 $ 47,967 , Acaouatr payable taxes 117,900 $3',121 A lorued payroll and payroll 70, 48'9 468 r we to.other 4unde 131 , 225, 405 ,.494 Total IiabilitieA 1 ! 7,924 136,407 Roserve for enaumbrancea 336,876 351,42 Reeorve-for delinquent taxes 26 $12 338,193 ' tend balance , $69Y, 6.16 $961j521' , I' i F} I d I j' ELI The aocoapaa ia6 3 are an integral part of this ,~tatoYaent 16 r, I ' I + r _ A City of Denton, Texas ; General Fund I STATEMENT OF REVENUES AND TRANSFERS, y; EXP.ENDTTURES AND ENCUMBRANCES 1 t i Year ended September 30, 1976 i w Revised Actual budget Actual prior year 4 ` ReVenuess i Ge'neyral property taxes 962)119 $ 959; 5,07 $ 957,108 Current Delinquent 45,000 89,090 47,913 j ~eaalfi.ea and interest 18, 500 18, 533 Y8 Y18 T; fiE~lI9 T,"i538~30 I T3~ E Other revenues Other taxes' 1,221,128 11296,824 11092,160 i ! Fees from revenue producing facilities 819,928 $02,830 7501,315 E' Fines and tees 236,385 2391700 1971677 Licensee an,d permits 37,850 440747 37,675 " miscellaneous 236;620 266t809 166t268 1 "244 ;3S;T0S ~2; 848; IM 0 Transfers trt other funds s {Note D) 1, 890, 1'Y8 1; 583, 2$$ 1 638 9 8 i 5) 261044d 28$; ux8 , Expenditures and en4umbranceg Salaries and wages 3,914,838 31608,427 3,13$,063 Supplies 405,043 391, 726 3900194 lfaintenance 4940062 551;028 4290930 7623364 738,902 638,501 ` Services Sundry 10,580 8,169 122,490 + Capital outlay 125,159 '119,851 106,953 I i~ Nondepartmental expenditures 1220939 1240760 58,427 240018 Insurance 40 229 37, 918 57LAI~ 4j8041170 EXCESS OF B00DZ- I i "RES AND ENCUMBRANCES OVER RSVZS k~ TRANS ER:IAND $ (31$,728) $ (311481) $ 99,993 E The accompanying notes are an integral part of,this Statement. r F' k 19 ij~ i : t 1 ~ Ewa, . j city G Denton, Texas f . e 'nest Fund p STATEMENT OF WNGES' IN F'U'ND BALANCE j f r Year ended September 30, 1976 I ~I Balance at October 1, 1975 $ 338,193 1 , a Deduct excess of expenditures and encumbrances I over revenue and transfers (311,681) Balance at September, 30,1976 $ 260612 A f , I ,I I [ I I .r F 1 i l"" I i1 M I ~r \ The aadnmpanyibg' Y1ut00 are an intbgr4l part of this etatetl nt'i } Z0; 1 ..L...... .....c., ,.I ir, a. f weA Sl}, .x'lN 45 1PV ki.l I P t t , it ( "MIA WEa .t 1 }jsin 0V - r City of Denton, Texas ! General Fund z , 6TATEMENT OF BUDGETED AND ACTUAL REVENUM AND TRANSFERS 4 Year ended September 30, 1976 Revised Actual budget Actual prior year I 1 p~ TAXES f Current $ 9620719 $ 959,307 $ 9670105 Delinquent 45,000 69,090 47, 913 ponaltes and interest 18,600 18 533 18 118 E OTfIER TAXES Sales 1,0751000 1,160,112 100000932 Vanchise Lone Star E f Gas Co, 47, 487 47,487 27j965 Franchise - General ! F Tolephone'Co 54,037 54,037 49,164 hiked beverage 15, 000 100304 140109 ITotel occupancy tax 29 602 l5` 884 FEES IIA09 REVENUE-pRObUM0 { FA&LITIE3 E Gs#!bAge charges - residential 431,6l6 402,oli 395,$87 Garbage charges - etimmdreial 330;000 329,749 302; 74Z Swiandt ng pouf 8f 000 90113 6; 401 cemetery fees 1, 820 1, 233 110660 Community building rent 21600 1,387 2425 j Airport 110292 llj473 18j697 Garbage penalty 11,000 22,612 Y0; 338 Special pickup service 30000 2,404 2,006 ! Recreation program activity fee 21P000 31 688 1O 209 FINES ANl) F'f:IsS ' Corporittiioxl Court 216,000 220, 492 177i973 } t Animal pol.jY d 7, 500 9t293 170122 Automobile pound 4,000 4,438 3882 Police record investigations 25 24 1 ~ 0.66 j Court coast service fee 1, 900 1)2119 Police funeral escort and 7*61 j N guard fees 7 560 4 X98 If , 21 E y a 9 di M City of Denton, Texas ' General Fund e STATEbiFNT QF 8UDOF'.TEI'+ AND ACTUAL REVENUES AND TRANSFERS l (CONTINUED) Year ended September 30, 1976 e. r^ i Rovised Actual a bt~dge,tt Actual prior year LICI '418 AND. PERMITS 400 6U ZOAing permits and petitions $ 4,100 $ 6,450 $ 74% certificates 21500 2,872 2;467 r, 'sloatrie'and plumbing 2,835 20860 31125 g,835 licenses 126 383 Vital 'statistics permits 8,400 9, . 591 8,366 ` Building eous I t597 11 588 f,. Miscellaneous permits ir`600 1;096 ~800 Larding zones 120000 12;238 11,802 i aslea ' permits 260 250 Ersem6n t 200^ Excavation permits 350 322 346 Wine and beer permits and r 2 034 licenses w , i FtISCEt,Y,ANEOUS 4.; 0,00 s874 3, 9613 parking•inet,er receipts Eioetri4 inspections 3;900 2,$60 3,g' Plumbin inspections , 4,,60b 4;448. 4,662 C i County fire runs 51000 61830 1,470: 50 060, 620482 21i663 Street cuts 0 Rents' and concessions 61760 4 800 6, 160 Matahin0 funds J.04,8ig 101; 908 81, 36,75 49 Gaso~Int tqx refund 360000 38;052 24,610 Miscellaneous income Sale of refwse bags 130 600 220 361 12,379 _ 008 State and federal grants 21 ~m 21 009 - gg J I 1 TRANSFVkS FROM OTHER FUNDS ~.Electric System Fund Administrative services 432,662 417,098 3810369 t„ Return on net investment 811,607 811,807 792,947 4 Water and Sewer System Fund Administrttive services 139,918 139y033 127,123 Return on net investment 3089039 208;039 326,836 Trust Fund 9 481 81 84 Hickory Creek Park T"~Stf"Ir8 ~ TB` L2 $6,2611444 $5,269,098 $4,904,169' F' 22 Auk] 1~ I1 5 F city of Denton, Texas General Fund t i STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES i i Year ended September 30, 1976 m: Expenditures Y y Expenditures and 1# Revised and encumbrances Pprp riations encumbrances P a c rips Year t I GENERAL GOMN9ENT SaL rles and wages $ 1241 316 $ .1221-686 $ 114,626 ~ Supplies 14,021 14P401 121 948 I.1 Maintenanco 19,324 ' 21,112 150 364 ,$ervicer 110, 019 106p392 90,437 Sundry 50 51,5 60881 30401 286 Capital outlay 20 861 10566 Insuranoe "287, f LEGAL bEPARTMENT Salaries and wages 91,10 660 77j418 77,124. 4. Supplies 6,:850 80482 5j 52 Maititenahoe 10 680 1; $y.Q 2" 66 I Services 37y081 38,078 34';489 Suzldry 1j095 916 316 { 3 Capital outlay, 41781 601 6 0,7'3 1 Insurance 606 0 491 3160 ~ 129;148 UZbja3 ; COMMUNYTY"DEVELOPMENT Salaries and wages 287,216 263,242 242310 a~ Supplies 14, 571 16,073 14,917 Maintenance 8 819 8, 588 5, 482 1 a Services 18 764 17 954 14, 834 I - Sundry 327 284 869 Capital outlay 41279 40361 8t 237 insurance 2 018 1 770 1,025 31DIB94 311., ! CIVIL OEFVNSE Salaries and wages 230407 23914 234421 SUppiieg 10 981 10 567 1~; 7$7 Malhtenanee 2~ 677 1,,8,75 2, 481, Services 3r 576 3, 348 260 Sundry 10 1 1 Capital 'outlay 20087 1,876 20`065 Insurance 460 446 316 ~f 23 FWD E r , IF, City of Denton, Texas y . ' General' Fund STATEMENT OF APPROPRIATIONS AND E'XPENDITURES` AND ENCUMBRANCES (CONTINUED) r' Year ended September 30, 1976 i, Expenditures Expenditures and ' Revised and encumbrances appropriations encumbrances prior year + l'XNANCE ADMYNISTRATION Salaries and wages $ 46,746 46,467 $ 42,.782 Supplies 425 $ 390 484 Maintenance 190 190 39 1, Irv Services 1, 801 1'876 10265 Sundry 12 1 1, Capital outlay 116 116 699 Inouranee 172 171 160 49)401 4912 45,31 TAX nEPARTMF" SaWies'and wages 46t384 45, 903 41;g94 , Supplies 10,166 51041 6, 432 ft Maintenance 850 1,000 '823 V ` services 10,438 10,315 1,195 I t Sun&Y 12 1 " l Insurance 212, 211 175 Capit'1 outlay 450 1329 W ~q s `63;`St~'t 83,1160 49 3 DATA PROCESSING -ies ` Staila and wages 79,139 770080 71 lies 74b ' 4 120 3 679 16,191 L Maintenance 500 689 47 r. , ~ services 760672 75, 256 .:65,181 ' Capital outlay 2,604 2,404 602 ~ Ineurance 6 5 S 5asti ;i' F TV 1;' 41 L59;01 ~152jo SANITATION - COLLECTION Salaries and wages 273,130 '189;570 266,`780 i Supplies 153,400 186080 1620432. ' aI~aintepance 62 880 82)634 59 189 ; ; Services 65, 350 63, 701 551IS4 t Sundry; 300 91 142 ' Capital outlay 5,000 g,198 1,033 s Insurance. 3 347 3J800 20634 563 y s a 1, 420 344 t 24 L 1, 10 r Y, City of Denton, Texas General `Fund E STATEMENT OF AFPAOPRIATIO S ANDIlED)ENl7YTUltES ANDENCUNB1iANC~S ~ Year ended Septembor 30, 1976 I Expenditures ~ Expenditures and Revised, and encumbrances appropriations encumbrances prior year I ~7 ' $ 4~316 SANITATION - DISPOSAL 37,107 $ 37, 9 30 6 619 ' Salaries and wages $ ,249 206 321 P 2 3 .9.,367 ; $ Supplies 268 Maantenanae 18,631 ' 18,104 12'294 services 464 325 52 Capital outlay 146 142 Insurance POLICE 87(1, 786 866,,747 7311 399 salaries and wages 67 120 ;69,406 ; 59,192 Su" lies 4X 549 46 0$0 43, $9a laintenance 66; 668 6016$4 62, 7b6 j Services 3 877 11 6$ 306 6)30104- 5 Son .10, 389 Yc6 1;576 Sundry 15 343 11P930 I • ~ ! Capital outlay.,429 1 ~ r101'CwOF -WAX 12, 467 12,$406 Milli 343 294. ; Salarier and wages 456 541 467 Supplies 825 397 Maintenance 226 358 1 Services 12 2 Sundry 1 .1 1 Insurance 41 - 320 Capital outlay - ~ _-n-I ;`0~'T 23 Q81 PUrCHASINO 235 26i "la'ries and wages 272,, 250 2, ' 108 Z>$46' 94 Supplies 4, 22 Maintonance 4, 884 6, 284 1 , Services 15 2 'undrY, 5 3 insurance 25 I~ r., y~ ~ f r ri, y City of 'Denton, Texas j General Fund STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES ) (CONTINUED) 9 r' Year ended September, 30, 1976 II ; 7" Expenditures. Expenditures and Revised and encumbrances appropriations encumbrances prior year BILLING AND COLLECTING r 'I Salaries and wages $ 181156 $ 179p000" $ 161,402 Supplies 340074 36,065 320415 i Maintenance 41508 40843 4,614 Services 11,176 I1,307 7, 08~/ Sundry 312 66 X88 yr Capitl Xx outlay -:10411 2,077 6fi6 Iagurance 876 870 844 AC'COO1 INCA ; a4la ies and wages 27,421 2'7,139 , 26, 3Q1 r" Supplied 2, 225, 2, 266 015, at#3.nt6nanoe 100 120 : , 97 Servtdon i, 949 1, 7fi3 t422 Caoital outlay 141 141' ~w Insurance. 5 2; 2 91,74 25t Ru P~iSQNNBL , f SalAries and wages 29, 8b5 29, 702 c., 4 605 W_ ; Supplies, 40525 Maintenance, 144 44 3ervioe6 5j300 4,1'l9 insurance 27 2 - r Capital outlay 350 :294 L ' 1 Turvic CONTROL I Salaries and wages 52,134 51, n4' 470362 I ' Su~i~leu, 3} ~48q 3; 850, 3, Q'J9 Msintenaace 22;9x0 98 87 $2,698: Stlirvioea 4#940. 51064 ck)ital outlay 23, 856 24, Wir 0 , 3-16, i Insurance 367 7 2 81t6 d#'y ^ 683 atrr ..1yy --yi~f1~F3 a , 26 , f ale S- NYC JI. 41 ~ra,vo-,of City of Denton, 'texas General' Fund R, NCES t STATEMENT OP 'APPROPRIATIONS AND EXkNbjq!VRES AND ENC mk (CONTMED) } Year ended' September 30, 1976 i Expenditures 5 i ~tti~s ys Expenditures and Revised and encumbrances appropriations encumbrances prior year FIRE Salaries and wages $ 798,202 $ 802;441 $ 66:3,477 i Supplies 19; 262 18, 837 2(1; 540 Maintenance 16;133 21)038 15[#'406 { Services 30;805 26253 22,254 1 3 Su, dry 15 p 3&8 2` 593 Capital outlay 7,485 7, Ineurance ~ 4 08221M 7320950 875 , Pali ' i STIMPtT AND 8RID0 ; Salaries and wages X57, 874 2661344 2641 ~!4 2~ . t $uppl'iea 24, 040 201 2,00 Maintenance 064,970 264,089 2180+4K 487 SeiyYices 172i,398 x86, 601 90i29 6 pdry 500 w. ~ 0$5 , Capital outlay, 5,149 201691 Ynsuranc ,tev4-91- -3'-011 746 375 > j PAAKS - ADUMSTRATION AND PARKS Salaries and wages 1859,543 1710022 160).643 $uppli.ea 2O, 540 13j641 16, 394 MAVktenance 2602$0 270181 200 538 ' 1« services ~g'410 32P618 227 25r 161 'Sundry capital outlay 20~896 100316 10)472 - I 2 429 ; r 14surance 3,233 33 231 54 55 X27; tt PAR)Kg ST11mMIN0 P00L t 2l 66 ' s $a►2aries` and wages 20,648 18, 626 8ujppli,9e' '30 792 3~ 623 0 g70 MaintoiiAnce 4, 207 3, 829 lp 854 ~d1 Services 3t468 20114 1, 51g Sundry 80d 329 269 Capital outlay 29 969 insurance 198 3197 124 27 sl i y ' s YG'Et' 9 k , J. G ` City of benton,,Texas i General Fund STATEMENT OF ApP90PRIATIONS AND EXPENDITURES AND ENCUMBRANCES i•. (CONTINUEb) ri Year ended September 300 1976 ' i w Expenditures Expenditures and Revised and encumbrances^ appropriations encumbrances prior year PARTS RECREATION : Salaries and wages $ 680636 $ 69,209, $ 45,0$? 8, 849 110 716 ' 7i 111 ! supplies ' Itaintenance 10,776 1, 566 21041 Services 690225 690937 23,835 , Sundry iX Capital outlay 955 2 53 186 ; ` Insurance 419 _ 79 0 -1L ' L'I~RARY Sa;&Oes and wages s a lld f 287 1040:6461 14, 0'38 1 Ell 90060 '9,166 8,621 i m ipplili& i. r , . Aintenance 635 1, 682 943 14, 392" ' Servi'aes 2!, 438 270017 y 19,077 18,568' 2I 7 CApiial outla $1a 4 I Tnsuraboe $04 ---I6$; 36'3 -1'~ ,"~v E A lApbRT 196 185 Supplies , Maintenance 4, 760 1, 867 4i746 E;eirviced 30000 ;10,293 1, 491 Sundry 200 132 11e Capital outlay, 6P,000 5,148 21, 564w 1 InsUiaiioe 1 050 1 049 331 1 ~ ?E i >s a,t~ a, t F` }t City of Denton,'Texas (s' General Fund. 4 STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES s (CONTINUED) S~ Year ended September 300 1978 ' i 3 , ~t Rxpeuditures Lai, I Expenditures and Revised and encumbrances` I! appropriations encumbrances prior year NONDEPARTMENTAL EXPENDI- TURFS City-county health 53)460 $ 610450 $ 47,14Q unit services $ 10 000 10jd0O 40891 Inter~agoncy council 21'818 250742 20355 t Stat' grants i Bad debts and 8,367 21,f24 4,888 miscellaneous Contribution to 29 306 15,644 { Chamber ,of Commerce , Adjustment to prior ; year expenditure 04 , 779 4, 804,178 j $5,575, ,172 $5r580,. ~ J ~ t ~ t 29 I V r City of Denton, Texas i~ ds n Special Revenue F'u r 1A;I i. , I3ALAti'CE SHEETS ; September 30, 1976, i Crimnal Total (Memo) Justice' Grant I ASSETS r $ 39,905 , 6, 628 Cash 5$107 Equity in pooled cash (None 0) 238,107 Time deposits and accrued interest ,194 t" f bli,ocellaneous receivables 4 1 194 13,168 1 State grant receivable $301,190 $18685 LTABYt,YTIZ8, RESERVES ' kM FIND BALANCE 40440 1;140 Accounts payable $ 9,481 Due "to other fundo 710 966 17o545 Hese'rve for encuslprances 266, 304 Fund balance (Note A1) ' i $3010190 $18, 685 iw' The accompanying noted are an integral part of this otato"nt. p.' 30 i_ ty f9 jj r ! ' Miscellaneous ~ Traffic' 8evenue Library special special i Safety Grant Shari ~ Grants Library Revenue Funds ~ 4 22,209 $ - $ $17,786 i I~ $ 329 - 236, 107 - - = - 4,194 1880 - ; $2,209 $258j316 $ - $ - $21,980 $20174 $ 566 $ $ $ 560 9'481 y35 253,973 - - i1y331*'., ,,i $21i 980 $2,209 $2580316 $ - $ *Detail of Miscellaneous Special Revenue Fond balances - a++ 117) i Lions Club hark peoject (deficit) $ mpKenna. Park pund 6,162 tiily Fowler Library 'kind 3,582 Hiokory Creek Para Fund (deficit) (1,0866) ,j Clyde Wright Membr,ial Fund 849 Civil DefenAe Arp,ane Fund 1,63 + Defensive Driving'Courke yund 125 2b NTW Student Recreation Fund Denton Ten i6 Fund # to tSen:ton garden Council Pund Denton Xnauranc:e Agents 'Crime Fund 45 Bicentennial organization Fund 1,707 $111..331 ~ y r ~ ) ~ 31 t ! 3i Y l City of Denton, Texas 888 f Special Revenue Funds 1 STATEMENTS OF CHANGES IN FUND BALANCE f September 30, 1976 I I j Criminal Total L.j (Nlemo7 Justice Brant. 1 Balance at October 1, 1975 $166,838 Additions 8903 21 67,329 i t State grants 20$7 40$65 Contribution from municipality t i contribution from civic organizations 4,087 - Rental fees Hickory Crook 7;821 1, 7H7" McKenna Trust distribution 11 8.87 - Library tines and memorials j 1ental fees "Civil Defense airplane 10650 - Defensive driving course fees 466,671 Federal revenue distribution" , - - Interest income 170055 3 g Deduotionn Cormunication$ equipment. 170 645 . Crime prevention ei nditured 44x839 440639 Traffic safety expenditures 36,,234 Contributioa to' Flow Hospital 146398 - sei+Vices Tax re-evi►luatioit 4,195 - { Books and library wateriald Contribution to Motor Pool Fund 340779 Transfer to Debt Service Fund 000 - Horthlakeg project 240381 Miscellaneous equipment and,supplies 7,145 - 1 'Hickory Crook Park expenditures 9, 481 - Civil Defense airplane expenses 850 ; - Defensive driving course expenses 3 389 B*I*noe at September' 30, 1976 $286, 304 - The adcoupanying noted are an integral part of this statement. 1 32 - J E 1 is Oro." V ?x ~ i I giocellaneous Library special special f Traffic Revenue Grants bx Revenue Fuada ' is Safety Grant 5harin 438 $60273 $ 71282 $].42, 876 $ 120992 - 190000 _ 20000 22t242 Y 41067 r _ 7,$21 r 11787 650 hvl r - 4',642 s E r 488,671 _ y50 17, 005 r 73$ 0 Uri m 360234 _ 178; X96 i 4$03$8 6,273 100102 12,82 1$9438 _ Y ' 34, 7'19 W , 76000 - _ s 24, 381 r 5,103 I I1 2,042 9481 850 3 389 $11331. r $263,973 $ $ r+ r it + 33 1 i t i' t ` ~~A f 1 City of Denton, Texas General Debt Service Fund € BALANCE SHEET September 30, 1976 9 ASSETS It" + 1976 _ 1976 I 2,081 $1180410 Cash $278,357 Time deposits and aaorued interest $280, 438 $11;8, 410 ..rte FUND BALANCE i ;2$0,x38 #18,410 Fund balance ' R L ~ The accompanying notes arg an integral part of this st teroent, .t 34 { 1 ,Ill C'' 4 fC r 1 , a City of Denton, Texas i General Debt Service Fund STATEMENT 0:''REVENUE; EXPENDITURES AND FUND BALANCE ` year ended September 30, 1976 t 1976 1876 Reven46, $1 039'709 $865,8$6' B,4ageted'portion of taxes collected , 25,132 15,510 Tnterest'earned on investments 750000 Transferfrom'xevenue sharing _ t 4i a~000 P1lditures 610i000 47 x e . , E_ _ Bonds retired 367,208, 3850986 Interest' 606: 682 paying agent fees - -gam gbh, 5g$ EXCESS or REVENUE OVER EXPENDITURES 162r028 14 928 118410 103,4$2 und bAlarice at beginning of year Fund . 280 318 $1'8,910' Fund b41660 .4t end of• year V y 4 r The accompanyibg`not08 are an integral part of this"'state ent; j s 3b t I r ~'r. t City of DeOtOn r Texas p' capital' projects Fitnde , r 13ALANCE SHEETS ~r September 30, 1976 Total ` ASSETS 69'329 $21122116 Cash interest 497,313 Time depdsits and accrued Duo from other funds 323,1113 Street,~►sseee+aents receivable, less allowance l for unoollectble aucqunts of $830946 $x,112,091 i . LIASYLZ''IEB, RESERVES AND FtMD BALANCE $ 102,186 ' ` 4270696r. i Accounts, r fufue 2 1&5'15'84 1 Due to 'b otheher nd R6oervO for ' Fund 1*10nd•ee (Note r Al) [ r $3,112,091, li t t f I y1y{~ 11 1 - 1 S The aaoarpapyinit x►otes are an isftegra~ p~xt of thy' ~yts~te~ent. } 38 ! , r ♦ [ 1 es [ ' ..n t. .rr., .i♦ ♦ .ter r• M1'rl.:. ♦ 1 t sr + Street Flood_ Street I parks.And Recreation Yrovement Control Assessment $ 310619 $ 104,506 $ - $ 330204 189698 932,418 1'4 26,926 - 70,448 _ y 323, 273 ' + .J -Y-~--- $426,92r, $964,037 $1,721,129 $ $ 1,503 $ 1009683 _ 428,925 770 1551172 ' l~ 270412 1,462,274 934,362 _ r _ $426,925 ` $964,037 $1,7210129 , hY f ~ I j 1~ 1 J7 i i f 1 {l 1 ~~ry t,Jw11,Hf ` . City of Denton, Texas Capital Projects Funds ~ ` STATEMMS OF CHANGES IN FUND BALANCE I Year ended September 300 19781 I TotGl !I! Balande at October 1, 1975 $ 6~k1,553 Additions. ~,b00,000 Proceeds from sale of bonds 940914 Interest and miscellanoous F 36,140 " Rood control Fund , . ~ Transfer , from $90,1.785 ; Trafiefer. froth Street Assessment Fund Street assessments 388,107 ~8 G Deductions 967j096 Street, auarb and gutters PurchAse of'right-of -way 145,894 Building an'd laid improvements 87'13$ Abnd'isal4ilade &its and-miscellaneous 27;824 i xrans#er to Stre~It Improvement Fund 428 92b i° 1,~ i , Balance eat September 30, 1976 14 The aaroompanying notes are an integral part of thlyd stAtepeent, sa . e.., ,..:r. 1.... e,. r :..u 1r .o. ..l. .i. r.a4, i ..I: 1.apir ...\+r 4rtN i 1 4 . i n•qtr` s t f ~ Parks and Strut Flood :street Aeareation Improvement Control Asgessm6nt w $ _ $ 606,071 $41,482 $ { 110000000 1,5000000 N 27,232 64,995 - 2,787 . 36,140 390,785 967,096 _ 145,$84 - 81),796 5,342 11,084 16,827 Y08 36 140 89 7 41,442 $ 934,352 $Y,462,274 J . I I 1 4 1 IW ~ a t 1 t 39 I ~ 1 11 ~I R,Z'A,¢ N I 1 I F i Y I ~ ~ City of Denton, Texas + it Electric System Tuns i~ BALANCE SHEET , September 30, 1976 ASSETS 1876 1976 a i E CURRENT ASSETS ,N Opdrgting Fund ( Accounts receivable (less allowance of $300,625 - 1976; $104,476 - 1976 for M. uncollectible accounts (Note A3) $ 2,463,315 $ 2,1250888 Due from other funds 380099 - Inventory of fuel (Note A2) 3560234 338,743 Prepaid expenses l3t718 28,399 Deferred cost on Lone Star Gas deficiency payment (Note V) 1123400062 W 4,105,428 2,493,030 RESTRICTED ASSETS Revenue Bond Debt Service Fund' Cash 458 1, 397, 411 i..; time deposits and accrued interest 1,615,480 23,766 T Re nue Bond Construction Fund "Cash 42,762 103320496 TOW, deposits and accrued interest 561,572 ; Due fro► other Electric System Funds 80,218 Revenue Bond Reserve Fund Cash • 1, 742,'648 Tiire deposits and accrued interest i,988,789 26,323 System extension and improvement gquity in pooled cash (Notes Band C) 2 885,447 1 600 949 UTILITY PLANT IN SERVICE (Note A4) Land and land rights 291,329 291,329 Electrie.plant production and distribu- tion facilities (less Accumulated oron ii depreoia~cion and nd Am astertiZation of - E $159026#727 1975) 26,688,065 27,3780668 € Construction in process 7570252 224730 7; 73t$q via Z7$ OtMo 7Z7 INVESTMENT IN INTRA00VERNMENTAL SERVICE . { FUND 3050296 305, 296 $39,201,686 $36,8160646 f The accompanying notes are an integral part of this statement. 40 Oro" Iuk ll0%o V L ! LIABILITIES AND SYSTEM EQUITY 1976 1975 t CURRENT LIABILITIES (payable from operating Fund) Deficit position in pooled cash (Note B) $ 2,4450451 $ 1,552,175 Accounts payable 102340444 1,182,635 j Accrued payroll and payroll taxes 35,771 26,829 Due to restricted and other funds 93,340 260519 Customers' deposits 1590406 162,488 Lone State Gas deficiency payment (Note F) 10,234,062 5,212,474 29950,642 I I LXA131LITIES PAYABLE FROM RESTRICTED ASSETS Revenue Bond Debt Service Fund E Revenue bonds payable within one year 100320000 9700000 Accrued interest 3604948 3780443 f Revenue Bond Construction Fund Accounts payable 610280 9y6Y0 Due to other funds - 3 173 I 1 I LONG-rTZRK D913T (Note C) Revenue bonds payable exclusive of maturities due within one year 17,9460000 18,978,000 I , SYSTEM EQUITY Reserves For revenue.bond contingencies 10968,789 1,768;971 f For;,eystem extension and improvement 2,8850447 106000049 j Unreilized increment in 'valuation of .R utility plant in service (Note A4) 2,393'069.. 2,,588;2 7 Contributions in aid of construction 124 044 126 600 Retained earnings 7,306,736 7,444 031 TT;588, E154 13, 5,ZU, 775 COMMITMENTS AND CONTINGENCIES (Note E) $39,201,686 $36,8X6,646 41 1 Nut] T City of Denton, Texas j Electrlo System Fund STATEMENT OF CHANGES IN SYSTEM EQUITY _i Year ended September 30, 1976 t { Reserves evenuo x ens on bond and. contingencies improvement i" i Balance at October 1, 1975 $10768,971 $1,600,949 Additions 1. Transfers from "Operating Fund required by:bond ordinance 199,818 1,669,233 Oontributions by customers - i' Net income - Transfer from reserve for extension and improvement for additibns'to utility plant in service (Note C) 18 1;8 3 Deductions Reduction,equal to, Extension and improvetuents Dade' during . the year from current reven4e0 {transfer to 384t,736 1 retiaod -eakn~ nps) - Aeeort;3zation of unrealized inororaent' (Rote A4) '11ranItfor; to General Fund - CE L (1~ 6te D) Transfer to reserve for extension and improvement k~ Transfer to reserve for i revenue bond contingencies _ 38 4731 balance at September 3u,' 1976 $1,9690789 $2;885,+!47 J The aocoj%panyin notes are an integral part of this statement. 42 , '+w4 x `on I b{ u LJ Unrealized increment Contributions Retained i in in aid of _ earnin s construction valuation $71444,031 _ $1260600 $2, 586, 227 _ (1,866) I 2,158827 _ 384, 73B ~ . ~ 283, 158 1;;w '60't 1,06690233 1.,8x8 i f # 2. 1680, 658 $7,306,735 ~j $2,303,069 $124,944 { u 43 ye f 1 8 City of Denton, `Texas Electric System Fund STATEMENT OF CHANGES IN FINANCIAL POSITION 1 Year ended September 30, 1978 1976 1975 " Sources of working capital From operations Net income $ 21158,627 1,387,103 Charge not requiring working capital Depreciation 1,021,522 100030027 ff a: i Working capital provided from operations 3,180,149 20390,130 Contributions from customers and developers (1, 666) ReiMbursement for cost of fixed 3 'a'sjoets built for Texas Power Pool, " I n0 , -3'Z 5378 ~~3'~tJ`Z'30 f Applibations of working capital Additions to utility, plant in service 1,221;674 8760087 P ' Reduction, of long-term debt 1,032,000 9700,600 Transfer to Geaeral F` ,Und -'return on not investment (Note D) 8110607 792,947 Investment in Intragovernmental Service Fund' - 9,925 Nett c,hRnge in restricted assets and liabilities payable from restricted assets 837 731 707 671 h 3 35 5 U36 DECRE ASE IN WORKING CAPITAL (6499434) $ (965,600)„r , i rv4r ~ d a j 44 i ; - ~ rrx a dpi ' eb'; City, of Denton, Texas 'j Electric System Fund t4 STATEMENT OF CHANGES IN FINANCIAL POSITION (CONTINUED) Year ended September 30, 1976 t•4 1976 1976 ' Changes in oompooents of working capital Increase (decrease) in current assets Accounts receivable $ 337,427 $ 991,150 Inventory of fuel 17,491 440258 Prepaid expenses (14,681) (46,425) Due from other funds 36,099 f ~Deferred cost on Lone Star Gas 4efioiency'payment 1,234,062 3880983 (Incr'oase) decrease in current i liabilities Deficit posit`iog in pooled cash (893,276) (901 319) Accounts payable (51,809) (634,968) 'Accrued payroll ond'payroll taxes (8,946) (4 ,368) "Due to restricted and other funds (6$,8,21) 192,009 Cus£omers' deposcite (6, 918) (i1, 274) Revenue bonds payable within one + year 4)664 s Lone Stir Gas deficiency ;payment 1234 .062 11'. 354 j40 26 83 ) $ (966 , 6'00) 6 9~434 WRKIN'G CAPITAL $ d ( IN f DECREASE a •_i ~ ,4 1 e The accompanying notes are an integral part of this statement. { 45 _ l ~l 9>V IUM ft= City of Denton, Texas a' Electric System Furcd STATEMENT OF OpERATTONS a Year ended September 30, 1976 4 1976 - 1-__75 Income j Electricity soles (Notes A3 and C) rM $12, 11~ $9' 24Y, 738 i; Customers $090 Tntragovernmental 700,582 176,463 Resale power income 83,692 31 994 Othera1"3 l i ` Expenses 9810571 '8g7,426 r Salaries and wages q, 399,867 4,822101 vtiel (Note F) 101 171 applies 172,6 207,021 69,119 i 1 Maintenance - 68268 881,369 Insurance 1 Administrative dervice$ 200;878 179,757 Servio a 248,699 59,855 8 755 Had' debts 488 Sundry J -TJMTO -6" Operating income before 3,789;378 3ip36,402 J' depreciation. , 1,021,522 1,003,027 - 1 a o to A4) 1~epreciation (N 854 20033j375 2, 767, pperating income ' 284,841 250 '118 ! 8 Interest income r ' ` I ~ H74, 068 Y.-W4,01, 1 Bond interest and fees ---W s 2,158,627 $1,387,103 i ? NET ' I)+IQOME ? , r Tfie accompanying notes are an iategrul part of this statemeY~t'. 48 . i ' Y r j City of Denton; Texas Electric System Fund STATEMENT OF BUDGETED AND AMAL REVENUE f 19 a ' Year ended September 30, 1976 i Revised Actual !i budget Autpal prior year Customer sales - residential $ 4,5000000 $ 401460 394 $30251;883 Customer sales - commercial 80700,000 7,792;3$7 5,6b8;3il penalties 126,000 143,881 1270593 Dusk-to-dawn rental tees 291,290 30,043 2C400 lntragOV6rnraental saxes 400,000 382,990 182`970 Street and highway lighting 120,400 126,244 W707 Resale power income 800000 700,882 178,453 Collection on charged off, + accounts 3),000 $923 92 Reconnection fees 960 1 175 ~dieaeklaneous 28,800 80,456 27,863 k House moves 2,500 (19) 3 208 204 841 163 o 1 Interest ' ~ ' , 1548$13p9870540 130869,854 9,678,817 Adjustzant to commercial , basis revenue (2$4,841) (163,848) i $13,4050013• $0,6131069 E r { F ' h+1 47 t a _ I I City of Denton, Texas 1 r 2100tric System Fund STATEMENT OF APP bpRIAT70NS AND EXPENDITURES, j. ENCUN.nRANCES AND TRANSFERS Year ended September 30, 1976 rl + Expenditures Expenditures, and i' E Revised encumbrances encumbrances AI ,i _pprogriations rd transfers prior year ELECTRIC PRODUCTION Salaries and wages supplies $ 518,645 $ 491,383 $ 440 Bdl ~I ~ Maintenance 109,583 $$;296 88 808: ~ Fuel 7 160j 7628 20 55p769 X36'280. ' Services 7,399);698 40622,462 Insurance 33,574 23,016 430483 . Sundry 50, 113 540852 50 596 4 Capital outlay 41 26f3 86 8 ~ ~ 17 872 480828 ~Y.E'C~'R2C`, ly1'S1'$IB'Ct1'ION M METERZNa Salaries and wages 388 888! Supplies E4~984 401,578 322,604 Maintenan00 7U0 487 Services + x06,911 84,868 X 22i 0775 14,701 140120. Insurance Y. , Sundry 160409 12,947 7896 Capital outlay Z, 200 14465 " 496 174 430, 87B 803 at ~a PRO RATA SNARE OF UTILITY ADM&'jSTRATI0M EXPENSE Salaries and wages 112,796 Supplies 98,8X0 94,011 Maintenance 3, 022 St 896 30 671 Services 1; 025 11657 1, 620 d , Sundry 167,986 183,181 132,146 Insuranoe 81516 7,714 7i 204 f Capital outlay 461 407 928 , 2 000 1430 125 i f ~ r I. 48 I + nH IIV , - ff r City of Denton, TOXaS Electric System Fund ' STATEMENT OF APPROPRIATIONS AND EXPENDITURES, ENCUMBRANCES AND TRANSFERS (CONTINUED) P Year ended September 30, 1976 Expenditures' ' Expenditures, and Revised encumbrances encumbrances ap~opriatians and transfers prior year NONDEPARTMBNTAL EXPENDI- TURES I Reserve Fund require- anent $ 59,700 $ 590700 $ 232,243 Interest and redemption 1,904,985 p requirements 1,898,808 10896,608 Transfers to General Fund 4 Administrative 4320652 417,093881,369, servines Return on net 8110607 811t607 1920947 investment gad debt expense 34,200 248 699 5A 855 . 9 986 080 $121578,948 12,813,801 t ADJ'UST'MENTS TO COMMERCIAL 1 BASIS , Encumbrances - prior 270205 year F, Transfers to bond (119563308) (2,1371228) paying agents I Ca italixed`expendi- f ores (328,588) (5529033) . Transfers to General Fund - return on not (8111847) 092;947) investment ~ ~ Encumbrances -current year 128,868) 868) (2,,7,x.205 ) ' $ 916150637 $ r?, 478, 961 ~ r hhhMMM f 49 ~I l s s i 4 I qr,,«.,,. City of Denton, Toxas nd Water and Sorter Sy tom cl BALANCE SHEET ' September 30, 1978 ry` 19'76 j ASSETS CURRENT ASSETS $ 10,001 $ 10576 170 Operating Fund 820 3 694 Misoeilaneous.acoounts receivable ' 22, 13 5494 1 Due from restricted and funds 3,033 - -32 B 86 sits Prepaid expenses and dales4 ~s RESTRX(•TED ASSETS 105,585 178)990 . rtevonue Bond Debt Service Fund _ 87,129 , Cash to and aeorued interest 2 68 1 i Ti%O and Sever' Dud from other Water system Nndn 78,068 6600860 Revenue Bond Construotion Fund 66,907 Cash nits and 940rued interest (11,757) Time dbpootller; Water and Sewer Due (to) Systeat Furids 621 Revenue Bond Reserve Fund 426,323 kv, , Cash 480,0 018 sits and accrued interest Time de (268) i No (ta)siother Water and Sewer VA _T l_ system 'wunde 238,217 236,349 E- `i U'I'TLITX PLANT IN SERVICE (Note A4) Land and land rights (less a cumulated Water utility on Plant of $4,174,931 1,9761 8,379,114 8,223,763 depreciati t., $3,854,$94 1976) pidnt (lese~ 008cum1976ed x 763,869 20684,432 Sewer utility 3 depreciation of $3)498o - $3,291,778 1975) water 'rights {3etts accumulated deE~r@" 140, 038 Y•.. gg 029 19761 106, 396 oiabitl~go~ 97 206 398 66 514 , $110, ogees, Construction in pr' s. 7$8 243, 786. XNVESTMM it; 114TOOOVER"gNTAL SERVICE l VUMD8 $120822'000 080 $'12, 898, 633 c . t of this st&te'Aer't. r 1 a t~ 8r notes are IntO The a0oompa8 60 r' ,r ss~i .R .~....~.-r .inf. }r J 1 l E Sul A i r LIABILITIES AND SYSTEM EQUITY 1976 1978 CURRENT LIABILITIES (payable from operating Fund) Deficit position in E (Note B) pooled cash Accounts payable $ 9160947 $ 801,824 Accrued 80703 21p684 payroll and payvoll tastes 23,162 le; 108 Revenue bonds payable within one ~JJ f year 192,601 Y86 E l ` Due to restricted and other funds ,038 37 861 14 LIABILITIES PAYABLE FROM RESTRICTED { ASSETS Revenue Bond Debt Service Fund Revenue Bonds payable within one year 18771399 1080904 I Accrued interest ,314 88,284 Revenue Bond Construction Fund Accounts payable 11,668 142;824 Due to other'WAter and Sewer System Funds 22,362 r E Note and contracts payable 37 159 LONG'~i DEBT (Note 'C) Revc.nuo bonds payable exclusive of nautOri,,ties duo within one year 6, 586, 000 8, 4050'000 1p, MTLA1 EQUITY C i Roserve for reyenuo bond con-tingenoies 480,018 446,688 4 Chntributions from municipal or other government units 2647422 Contributions in aid of construction 2;185,964 1,799,489 Retained earnings 17 08U7e~i 759 15 Mit 153 U-AMOO $12,822,060 $12,898,533 1 j 4i rrr++rrr+Ywvw..~ a E 51 i { 5 4 City of Denton, Texas Water and Sewer System Fund STA'T'EMENT OF OPERATIONS Yoar ended September SO, 1.976 4 i 1976, 1975. y : Income (Notes A3 and C) Water sales f Customers $10486,408 $10185,379 Intragovernmental 28,023 15,155 Sewer service charges 661,847 583,648 Other 78,044 220 i Exp eases Salaries and wages 537,831 4980867 Supplies 108,§47 1310586 Maintenance 2321310 134,589 polder 246,332 '111";716 { Administrative services 1390033 1270123 Serviaes 990109 101,528 insurance 12,840 9,054 , Bundty 292 3,103 Bad debt expense 11,124 r 1,1 Op4rating income before , depreciation 8389711 6360899 Depreciation (Note A4) 831.786 490.919 Operating income 3069945 144,980 I,, Interest income 68 648 124 1"~3 Bond interest And fees $254439 284,638 r NET INCOME (Toss) 5d,084 $ (150525) The accompanying notes are an integral part of this statement, 52 7 i t. ,q s pay.~e I 1 r Vq THIS PAGE,YIErr BLANK INTENTIONALLY . ` ! j r i r 63 ' t i 1 1 F~®ktr~ h1Y9alwyp 1 1 11 I r ~9 City of Denton, Texas Water and Sewer System Fund .a» STATEMENT OF CHANGES IN SYSTEM EQUITY Year ended September 30, 1978 I ~I f M Reserve for r rovonue bond = rc~~ntin~cenaiee ~ I `f,il Balance at October 1, 1978 $445,686 r1 Additions 34,332 Other transfer from Operating Fund Contrihuti,ons by developers and others., for Water and Sewer system improvements Contributions by customers for water ~ and sewer taps and extensions ; Deductions Transfer to Oeneril'Fund - return on net Other transfer investzent to r,)se (Note D) rve for revenue 4i bond contingencies 1 1 Balance At September 30, 1976 $4800018 'JAI i ' I . I i The accompanying notes are an integral part of this statment. ' °:I;r r i?. . l'i. d a... ,-,+::y 4hIJ1 •.f 1vJ.,, i } { it Contributions ' Wunioipal and I In ;yid of Re governmental tain6Sl _ units oon,struotiion earnings $2 847,422 $1,799,469 i $2080076. i 313,$20 720 865 Y 4 50 054 lp, 054 20810'38 , 24, Y, s ' Y M 24QjZ $2,847,422 $2,1$8,984 $ 17,759 It's 66 . V iy ~ 3 i 4 Val 1V 1 a City of Denton, Texas Water and Sower System Fund STATEMENT OF CHANGES IN FINANCIAL, POSITION a' Year ended September 30, 1976 t" 1978 1975 1 Sources of working capital From operations $ (15,528) Net income (Lose) 50,054 $ 4 Charge not requiring working capital j Depreciation 531,766 490,919 Working capital provided from operations 6819820 476,394 Contributions from customers and developers 3860485 860268 Federal grant (reduction) for water treatment plant (840800) Net change in restricted assets and II liabilities payable from restricted M., 1 assets 321 732 1 671 533 a Appl,togtions o Y working capital Additions to utility plant in service 904,n45 1933,447 Reduction of long--term debt 320,000 306000 Transfer to General Fund » return on S net investment 206 038 3260836 iM1 I; 30 X-) 000~292 DECREASE IN WORKING CAPI TAI, $ (140,046) ~I (422,589) 41 , g8, ~ a. ' j, Is a Clay of llentoni'.'Pexus ~fi fi~~~~r~ Water and Sewor System '~1znd ,i ~ ~ ~ STATEMENT C~ CHAN4ES IN F'rNANCIAL I~SITION (CONTTNUEiI) ;1 t C 'Year ended S©ptembor 30,'1976 3 t ' 1976 1~.....- ~ r; ~ Changes in oompone[1ts of working aapltal ~ Tnarease (decrease) in ourront assets $ 8925 $ {4,143) ~ Acoounts reoeiVdble 8,128 (~i~7,6HQ) ~ ~ Due from U'hrestrioted and-other funds 1, p~ Prepaid expenses ( g_~,~~88~8 lg i ) ` `1 "(Yncrease) degrease in aurrent , 1labilities ~ Depioit'position in pooled aash (114.,123) (257!544) (Note 'g) 12,9A1 (6,S6X) Aoaount~ payable 7,046) (6,172) ' Aaorued payroll and payroll taxes ( } Ytevenue bonds payable within one ,3,486 '10,917 ~ i p~ year ;?7 88l) ~ Due to other Funds l 3 ) } DirCR~AST': IN WO}t)CINO CAY'ITAY, $ (190, OA6) , $ (422, 6891 ' ` ~ Irl F4 ; ` i t ~ ff~~ 7'he aoaampaiaying notes are au intogral part of this statement, i ~4 i~ ~ 67 ' J ~ a w City of Denison, Texap k Water and Sewell System Fund STATEMENT OF BUDGETED AND ACTUAL REVENUk' ' year ended September 30, 1976 Actual d Revised prior _,_,bu~_ Actual _ Year WATER 68$ 634 Customer sales - residential $ 960,000 $ 820 5 627,043 $ 479,,$77 !°1 Customer sales - commercial 775,04 Penalties 36, 00, 31,661 34,461 t Intraggvernmental 20,000 28,023 16,166 Tapping fees - water 36,000 39.,028 2203$1 4,678 of scrap material 25'500 000 474,348 Sale ,598 3,470 Miscellaneous income Interest 86,000 68,,646 41,704 Water for resale 2'800 7t767 89067 Aid in construction 901 , 3;-x;-0$ 7 193 76 SEWER Customer sales •4 residential 390,000 350,940 2830927 Customer sales commercial 3280000 2730853 2320843 Tapping ,tees '..s'r;wer 12000 110898 6,124 Sewer extensions 2,000 100649 840 888, Aid In oonstruction ~ l Sewer fees other cities 8,600 8,070 60804 1 Sewer fees - industrial water 28 8. 30,1L4 $2,671,300 2,3960734 1,8840054 t.• Adjustments to commercial basis ~p Contributions in aid of (72,868) ($0,122) construction 41704} 4X' Interest revenue (88 68.8 6488) INCOUS $2,256,220 $1,162,228 i ti ill 68 j j i 1 , F ~a f R r I y sr;,3k.'' Cit:1 L y of Denton, Texas Wata.r and Sewer 48tsm Fund { STATEMENT OF APPROPRIATIONS AND 'EXPENDITURES, ENCUMBRANCES AND TRANSFERS 1 YeAr ended September 30, 1976 wS'tk~ i~ ' ' iI s Expenditures, Expenditures and Revised oncuMbrances encumbrances , ~2prObriations and transfers _prior year f WATER PRODUCTION j Salaries and wages $ 156,717 s ? Supplies 92 $ 151,828 1340096 ,758 56,289 99,863 Maintenance 15,089 11,803 13,031 Production power 128,000 Services 43,422 139,028 87;9w0 ,145 38,$11 Capital outlay 10p9614 4381692 Insurance _~~1, 8.046 41307 3,147 416, WATER DISTRIBUTION AND METERING Salaries and wages 188,293 1100478 121 849 Supplies 8 204 7p742 I a 8LI6 Maintenance 131,238 122,860 69348 .11 Services 15j314 8 206 ' sundry 125 ' 25 la'log Capital outlay 55y434 Insurance 3188 g2,985 82795 1 SEWAGE TREATMENT AND ,409 f DISPOSAL Salaries and wages 1511689 1360738 9t1,7 2 0 Supplies 33,247 31,601 20o4117 Maintenance 34 170 F' Production power 104 900 107304 24,8 t. services B1750 273 44,00,566 { k Capital outlay 90385 19,688 t Insurance 12 5 '191 3'87 323- SEWA09 COLLECTION ~ Salaries and wages 129,760 100405 Supplies o075 , 99,753 Maintenance 42,976 58;694 33 033 I' Services 160,770 Sundry 376 14,176 17'9 Capital outlay 320374 2'428 Insurance 1,898 42429 43,42$ F' 233,230 23 ,13741 I ~ 59 ~ Awl I Fri OM 44 i r ~,E City of Denton, Texas Wnter and Sewer, System Fund f STATEMW OF APPROPRIATIONS AND EXPENDITURES, ENCUMBRANCES AND TRANSFERS (CONTINUED) Year ended September 30, 1976 kr ' Expenditures, Expenditures and p' Revised encumbrances encumbrances appropriations and tr ng~ fifers friar year 41 , ` PRO RATA SHARE OF UTILITY ADMINISTRA- TION 1:.7CPENDITURES Salaries and wages $ 38,847 $ 39,282 $ 41,238 supplies 1, 716 921 1,191 Maintenance 880 699 640 services 26,844 310286 12,176 Sundry, 640 91 148 Insurance 194 189 390; ' Capital outlay 300 126 NONDIPARTMMAL 9XPgNDITUIMS Transfers to General ftnd 3 Aft niotrative { services 1390918 199,634 127,123 Return on no vestmentt 306,039 206,o38 32608311 Interest and r8, demption re- ' I quiramesats 633,261 6920950 640,359 Bad debt expense 260605 40,206 11,124 Transfer to reserve, for revenue bond dontingenoied 40, j M45,792 ff $205760542 21408,740 2,283;093 I so - ..,,iAf.. .3.a.x.mkrt.4,FfFr`+411r;,ffft a+ I ' 1 F'M, 1 141°xlle ~t ' IS City of Donton, Texas 1. r; Water and Sewer System Fund 1f STATEMENT OF APPROPRIATIONS AND EXPENDITURES, ENCUMBRANCES AND TRANSFERS (CONTINVED) Year ended September 30, 1978 j Expenditures, Expenditures and Revised encumbrances encumbrances appropriations and transfe"s prior ,;ear j ADJUSTMENTS TO COllfk kIAL BASIS a Encumbrances prior year $ 27,996 Debt service requ irement s (632p960) (8800700) Capitalized 1 i expenditures (148,081) (121,234) Transfer to 6ohoral Fund return on net f investment (206,038) (328,83b)` Encumbrances current current year (33,157) (27,906) I~ Y ~ . , t»a EXPENSES - 1 418 609 $1r 126, 329. $ r r r ~ , 3 r "l ji, i ! 17 ('1 61 I City of Denton, Texas Intragovernmental Service Fundy BALANCE SHEETS If September 30, 1976 Total Working Motor i ASSETS (memo) Capital Pool 80 Equity in pooled cash (Note B) $ 4,784 $ - $ 804,784 Time deposits and accrued 2$ 321 28,821, nto eat r Inventories (Note A.2) 487;298 487,298 - l Due from other funds 383 383 770 383 - a ! Prepaid insurance 41 Equipment (Dote A4) 2,226,428 42;787 2,183,6841 Less ar,cumulated depreciation 1 125 133) (14j368) 11 ll r75) - , P295 280428 I,U7z, w x iInvestment in Motor Pool Fund 11,445 11,.44 $ 2,+112,778 $608y325 $ 10904,4b1 i Y,YABYLITXES INVE$T$D CAPYTAL AND AiThNED EARN INos y , Dofioit ',position in pooled cash (Note D), $ 2131632 $210,232 $ i Accounts payable and accrued payroll 7`0,203 700203 2l8 r 1 Due to other funds 284t263 284,699 218 I. Invested capital b lectric System Investment Y E Fund 306,298 180,747 124,649 Investment by Water and Sewer 243,766 108,975 1340791 System Fund Investment by Working Capital Fund 11t,446 110443 Contributed assets (General ` ` and Special Aevenue Funds) 981 601 981 501 U Vil V! 299,7Z2 S1115 Retained earnings (accumulated deficit) 808,516 (66,432) 67 047 $ 2,412,778 $6080335 $ ,904,461 L The accompanying notes are an integral part of this statement, 82 t % t ~ u V j L? City of Denton, 'texas Tntrhgovernmental Service'Funs f STATEMENTS OF OPERATIONS Year ended September 300 1976 9 r J Total Working Motor.... ' (Memo)' Capital Pool i Charges to other funds $1,3470459 $11096,091 $261,368 ~ Tess cost of material Beginning inventory 425,828 426,828 - 960,689 960 689 Purchases Less ending inventory X467,298 X467 2 8 _ 919 21 gig 210 4211,2490 179 '-87 Operating expenses ' Salaries and wages 175,454 176,454 - I Supplies 6,483 6,493 Maintenance 90475 9,475 h Servioes 17,610 17,610 - insurance and other 91696 91696 Depreciation (Kota A4) 255 504 4'136 251 368 25156 Z$Z -~a Operating income (loss) (450992) (45,992) - Other income Gain,on sale or trade of equipment 10280 1,280 2 2 w,0 Znteres 31301 NET INCOME (LOSS) $ (420691) $ (460992) $ 3,301 i e i I The accompanying notes are an integral part of this statesent, E tf` r r r I} r fj.q *'r r)M I 17 City of Denton, Texas ai Intragove,rnmental Service Funds STATEMENTS OF CHANGES IN INVESTED CAPITAL AND RETAINED EARNINGS Year ended September 30, 1976 CHANGES IN INVESTED CAPITAL aanr f - Total Working Motor (Memo) Capital Pool invested capital, at October 1, 1978 $1,461,147 $289,722 $101710428 ui Additional investment by 26o82 260082 w General Fund , Revenue Sharing X34, 779 34, 770 Invested capital at September 30, 1976 $l, 822, 008 $289,722 $10232' 286 ..,........rte. ' ' CHANGES IN RETAI?ZD EARNINGS Total Working Motor, . (memo) . Capital pkioi Retained earnings (accumulated deficit) at October 1, 1976 $ 649,206 $(19)440) $ 868,648 2) 3 301 42 691) (45099 Net i~ycame; (loge) , ,..L., Retain8d eaxniagg'(aoourulated deficit) at September 30, 1976 $ 606,816 $(680432) $ 671,947 f the accosponying notes are an integral part of this statement, i 64 4 t !j f.~ E s th City of Denton, Texas i i , k Trust and Agency Fund at ~'a PAYROLL FUND BALANCE SHEET ' September 30, 1976 1 l,:,. ASSETS Cash ! $168,800 LIABILITIES p~ Due to other funds $ x;860 J~ FICA tuee ppayable Other payables 1381,812 1$,939 i F $16$,800 f J t All, I k ri r% The Accompanying notoe are an integral part of this statement, l t f E f r v3~g1 ~ t 1 J City of Denton, TeXaS I STATEMENT OF GENERAL DEBT `September 30, 1976 3 r" 197~5 1978 ; Amounts available and to be provided for retirement of general debt Available in General Debt Service 28A,438 $ 1180410 Fund $9,304, 562 _It -S 0 Future requirements $9,686,000 $ 7, 695, 000 a f General debt General obligation bonds and 9,585,000 $ 7,695,000 $9 warrants payable r.. 11 STATEMENT OF CHANGES IN F'UTU'RE REQlXRENENTS s I $ 7,6 76, 590 lu, galance at October 1, 1975 00 er%l obligation beads issued 2,500 000 during the Year ; p 1 lM Increase in aawunt available in 162,016 GenerAl Debt Service Fund $ I ►Bonds and warrants retired during the 610,000 772;028 year $ 01304l `582 ° alaace at September 30, 1976 L ti ent ntegral Ort The accofnpanying notes are an i Of this utl~tem f . e7 P a City of Denton, Texas STATEMENT OF CHANGES IN GENERAL FIXED ASSETS f. September 30, 1076 K October 1, September 30, !i 1975 Additions 1976 GENERAL FIXED ASSETS Land $ 2,3$2t987 $ 870243 $ 2#4B0,200 108470178 170785 lt8$41943 i . Building 9, 649,794 1,882,870 11032,464 I Streets Z Equipment and other 1,1720688 126$19 11298,007 ! improvements Construction work in 74,103 121,318 835,821 ! process $15,778,720 $1,905,515 $17,8$21236 INVESTMENT IN OEN9AAL, FIXED ASSETS From proceeds of general obligation bonds $11t362t842 $11444,386 $1218071207 808 018 101,473 19707,491 1 From current revenues ~ 1 From oon2ributions and gpdoial revenues 2 8, 07,860 369J677 3167,537 $16,778,720 $10906051$ $17,6812 230. Y ~ ~ r The accompanying notes are an integral part of this statement 8q . : f FP City of Denton, Texas NOTES TO FINANCIAL STATEMENTS September 301 1976 r r, l A SUMMARY or SIGNIFICANT ACCOUNTING POLICIES The accounting policies of the City of Denton conform to generally, accepted accounting principles applicable to governmental units. The following is a summary of the significant policies consistently applied in the preparation of the accompanying financial statements W 'N 1, Bases of Accounting 1 Tha accrual basis of accounting is followed by all funds other I than funds (General, Spocial'Revenue, and Debt ~l service runds), which utAlize the modified accrual basis of li accounting. The enoumbranne method of accounting is used i for All funds except the Enterprise and rhtragovernmental Service Funds, During the current year, the City has included k` , the street Assessment Fund as a Capital Project fund to more appropriately show the nature of the fund. This fund had previously been reported as a Special Revenue Fund." I 2. inventories j 111 Inventories consist primarily of supplies and,fuel and are valued at moving average cost, 3, Accounts Receivable ` L Included in accounts receivable in the Electric System Fund t I are amounts due for water and sewer services provided by the Water and Sewer Fund and garbage 'servioos provided by the General Fund. Utility receivables are all carried by the electric System Fund to facilitate accounting and eoliection d.. i procedures. Each fund records its own portion of the revenues and losses from these Accounts, 'y i Revenues are recognized on the basis of monthly cycle billings ' to customers for services provided, As a result of this cycle billing method, the City accrues unbilled servioe.at thd'end of any fisoal period with respect to service provided but not billed At such `date, The amount of unbilled receivables at September 30, 197$ amounted to approximately $8880000. 68 ~ ylj5{! F City ar Denton, Texas NOTES TO FINANCIAL STATEMENTS (CONTINUED) September 30, 1978 a A - SUWAAY OF SXGN Il'1CANZ' ACCOUNTING POLICIES (Continued) 4, _ Fixed Assets s, Utility plant in service and equipment on the Xntragovernmental Service Funds are recorded at post or market value at date of 1 contribution. Depreciation has been provided using the straight x, line method in amounts sufficient to relate the cost of assets F~ to operations over their estimated useful lives. ! During the year ended September 30, 1$87, the net carrying value 6ti of the electric system utility plant in service was increased by $4,851,499 to the appraised replacement value less 'deprecia- tion as determined by Independent consulting engineers, The increase in carrying value is being `amortized directly to 4 unrealized increment in valuation of utility plant in service, r Such amortization during the current year was $263,158, and the remaining erases of recorded appraised value aver acquisition cost at September 30, 1976 was $2,303,089, The recording,of appraised value in excess of cost is not in conformity with +I generally accepted accounting principles, { Prior to October l 1970 contributions to water and sewer systems by developers had not'been recorded as assets by the the I , City 'The amount of these assets and their offect on th balance shoat and net =oomo (depreciation) of the Water and Sewer System Fund is not known, Assets contributed subsequent ~ to September 30, 1970, have been recorded and are being i' depreciated. General fixed assets purchased are rdcoxded as expenditures in the General, Special Revenue and Capital Pro;)eots Funds I at time of purchase, Such assets are capitalized at cost in I r E the general fixed assets group of acoounts, Gifts or_contri- butioni are recorded in general fixed assets at Pair market i value at the time received, No depreciation has been provided on general fixed assets, 5, Property ~Cax't'evenue The C+,ty renords revenue from 'property taxes in the year in which the cash is receiVed, For purpose of acoouhtabiiityt the City records delinquent property taxes receivable as an asset, but offsets these amounts with it related reserve for uncollected ta:,as, k 69 'r ' i P0. i s? -wl. t City of Denton, Texas NOTES TO FINANCIAL STATEMENTS (CONTINUED) r September 30, 1976 i B EQUITY OR DEFICIT POSITION IN POOLED CASH 1 Fi The operating cash of certain funds, as noted below, is pooled ~ha into one bank account not identified with any particular fund. The accounting records for each fund reflect an equity or (defioit){ position in the pooled cash as follows; Balance Fund septomber 30, .1976 w General Fund $ 211,042 1 Electric System Fund Y' Operating account (2,4460451) Systems Extension and Improvement Fund 2,886,447 Water and Sewer Syotem Fund (916,947) Operating account {213,832) Working Capital Fund gp4~764 Motor Pool Fund 8,528 i Criminal nal Justice Grant Fund 329 i Highway Safety Grant Fund $ 330,,878 C YANG-TERM DEBT As of September 30, 19780 the City of Denton han general obligation serial bonds and warrantee outstanding of $9,886,0004 Thesis ;bonds f and warrants: are, payable annually in varying amounts through 1998 from tax colloctio'ho, Interest to payable semiannually at rates ] 1 ranging from 246% to 1.25%, ' As of September 30, 1978, the City had eloctrio revenue, serial bonds outstanding of $1@,9780000. These bonds Are :pay#ble annually through t 1909. Yntoroat is payabl0 Semi amiualiy At 'r at4i5.in Varying amounts ranging from .08% to 7.0%. The t►ajor provirioriii of the ordinance authorizing the electric revenue bonds are as.followsi t~ i "s 3 r 70 .a a.-!. r. .a. u.:•.v:! r .i;:k lV•4 ..i,vl L. r\ ant•r}.,S:.a •LYI.rL 1 J a City of Denton, Texas t t, NOTES TO FINANCIAL STATEMENTS (CONTINUED) September 30, 1976 % C - 1,ON0-TERM DEBT (Continued) 1. Rates The city will charge and collect for services rendered by the ~t system rates sufficient to pay; (a) all operating, maintenance, depreciation, replacement and betterment expenses, and other r costs deductible in determining "net revenues," and (b) to pay the interest on and principal of the bonds, and the Reserve Fund payments, as they become due. No free service shall be allowed, 2. System .Fund li All revenues received from the operation of the syst'so shall be deposited in this fund, and shall first be expended to pay all operations and maintenance expengos. Any amounts remaining in the fund after establishment of the following funds in, the s ( following order 'may be used for any lawful purpose 34 Interest and Pedemption a On the last day of each month, the City shall deposit in this f fund, from the Revenue `Fund,` an amount of money not-less-than the pro rata part of tho next maturing interest Arid principal ' ~ pays-gent , j ; 4. Reserve Account The City shall maintain 'i.n the reserve account, of the, interest and Redemption Fund, an amount not lose than the maximum annual requirement for the payment of principal and interest %:.n any bonds outstanding. The reserve account: shall be used to pay the principal of or interest on the bonds if there is not suf- lit, fiaient money available in the Interest and Redemption Fund.for such, purpose, denies in the reserve account may, upon order i of the City Counoil, be invested in direct obligations of the 1 United stakes government or in other investments specified by, tr the bond ordinance. Whenever additional bonds are issued, t;,e aggrogate amount to be accumulated and maintained in the reserve account shall be increased town amount which will not be less ; than the average annual requirement for the payment of principal and lhtere9t on all bonds to be outstanding after the issuance , of additional bonds, Suoh increased amount shall be Accumulated ► by equal monthly deposits over a period not-to exceed five years ; and one month after the dateof the additional bonds, ~i 7l ui 1 COINOJIV City of Denton, Texas u j NOTES TO FINANCIAL STATEMENTS (CONTINUED) ~ i September 30,1976 ; C - LONG-TERM DEBT (Cont.inued)+ • _ cap}' ~ f 5. Extension and Improvement Fund Under';the ekisting'bond ordiaances, the City is 'required,' after k the above requirements have been met or before the 10th day ' to deposit equal in this fund an ~ j of each month, a sum to not less than 12-1/2% of the gross revenues of the system during the prow ' ceding month. Monies in said 'fund can be used only for,,.' (1) pa ing the cost of extensions and improVements to the eysteMf, t (2~ retiring, prior to maturity, revenue bonds outstanding, or (3) payment of maturing principal and interest on, bonds odt-' ~i standing if monio& in the other funds are not sufficient, Monies in this account may be invested in similar obligations to those ,rte Fir' + of the reserve account, 74, X13 81 rieficienaiea in Funds If in any fiscal year the City shall, for any reason, fail to `ter pay into the 'Interest and Redomptien Rind nd xtensiai aHd Improvement Rind.the full amounts required, amounts equivalent ~i s, to such deficietroi s shall,I6 set apart and paid into '160 "se F funds from the first Available and unallocated revenues of the following fiscal, year or years, ~ i 7. Additional Debt i„ Y No additional debt shalt be issued by the Electt~ic System Fund, unless, among other things, all of the above funds contain the amount of money required to be on deposit therein, As set forth in Note B above; the City h tm as not deposited the transfers to the Extension and Improvemeht Fund in a separate account but has ' commingled the monies in its operating cash l goal which is used in part, to pay general operating expenses. This practice is at variance ` with the electric revenue bond .'Ordinance which-requirek; this money 3 '4Sf', to be, used only for extension of tho eleotric system or payment of the . ' revenue bonds, ' .3i E . { z;; 7 ~y "'fir- _ City of Denton, Texas t; NOTES TO FINANCIAL STATEMENTS (CONTINUED) ! September 30, 1976 z ~1 C - SONG-TERM DEBT (Continued) F I As of September 30, 1976,,the city had water and sewer revenue serial bonds payable of $0,406,000. These bonds are payable annually 'in , varying amounts tbrough 1998 from revenues of the water and sewer ' system, Interest is payable semiannually at rates ranging from 3.0% -to 6.8%.- The major provisions of the ordinance authorizing the water ! fr and sewer revenue bonds are as follows: 1 1 i% 11 Ales The City will charge and collect rates sufficient to pay all operating and maintenance expenses, and other costs deductible $ in determining "net reyenuest" as `defined, and to produce Leach fiscal year "net revenues" in an amount not legs than 1,30 times the amount required to pay the principal of and interest on bonds, and the Reserve Fund payments, as they become due, No free ser- vice shall be allowed, 2. Revenue Fund I All revenues received from the operation of the system shall. be • deposi;ited in this.fund; and shall 'first be expended 'tn pay'a11 operation and maintenance bxpenseto. Any amountsi~remaihfi* in this fund after establishment of the following funds in the following order, may be used for any lawful purpose. 1y 3. Interest and Sinking Fund on the last day of sash month , the City shall deposit in this # ti fund,.an amount of money not lass than the pro rata part of the next maturing interest and principal payment. r 4. Reserve Fund The City shall maintain in the Reserve Fund an amount not 'less than the average annual requirement for the payment of principal and interest on all bonds outstanding. The Reserve Fund shall be used to pay principal of or interest on the bonds due at any time when there is not sufficient money available in the Interest and Sinking Fund for such purpose. Monies in the Reserve Fund 73 1 `f N : tee.,. r 1 , y Cite of Denton, Texas 3? NOTES TO FINANCIAL STATEMENTS (CONTIN`U'ED) September 301 1976 1 1 C - LONG-TERM DEBT (Continued) ~xaa. may be invested in dreot obligations of the United States bod government or other investments speoified by reeatenamountntocbe, f Whenever additional bonds are issued, the ogg g accumulated and maintained in the Reserve Fund shall be increased to equal the new average annual requirement, Such increase shall be accumulated by equal Monthly deposits over a period ~ not to exceed five years and one month after the date of the additional bonds, !`1 5, Deficiencies in Funds into the Interest i If'in any month the City shall fail to pal and Sinking Fund and the',Resorvo Fund the full amounts required, ri amounts,~quivalent-to such Oaf ioienoies shall be set apart and lknd' paid into saia-funds from the first available the e*tentoAted ~.E I. , i-J revenue of the following month or months, necessary, the City shall increase the rates and charges for services of the system to make up such deficiency, , 11 D W TRANSFER OTC. EXCESS REVENUES !FROM[ THE UTILITY SYSTSM UNDS TO ~ I THE 69"AAL FUND The City Charter allows transfers of "excess revenues" of the utility systems to the General, Fund in ark amount not to exceed six percent of the "net investment" in the utility systems. The City Attorney hAs defined and interpreted the meaning of "excess revenues" and "net investment," During the current year, the transferfrom the water !°1 and sewer system was equal to four percent of "net investment" du#j , 'to the amount of "excess revenues", available. I Yv 74, ! 1 N4t^Ra f ~r City of Denton, Texas NOTES To FINANCIAL STATEMENTS (C)NTINUED) ~ s C rSeptember 30,.. 1976 E - COMMITMENTS AND CONTINGENCIES Agreement with Texas Municipal rower Agency I During September 1976, the City, along with the cities of Bryan, Greenville and Garland, Texas (collectively referred ; to as The Cities), entered into a power Sales Contract with the Texas Municipal Power Agency (Agency), a municipal corpora- tion and political subdivision of the State of Texas, i y Under the terms of the agreement, the Agency, which was created through con, current ordinances of Thg Cities and which is governed by a Board of, Directors consisting of eight rmemlers, two appointed by the governing body of each oity, agrees to I 5 construct or acquire eleatrio generator plants 'to,supply energy and power to the Cities fora period o£ not loss than 35 years, The Cities have agreed to purchase all=their future power and energy requirements in excess.of the amount not generated by their, systems currently in existence at prices intofided to cover: (a) the operating costs of 'the'.syi_ and (.b) the retirement of any debt incurred by the Agohoy. rn 'th'e event that revenuea are,insufficieni to cover all. costs and, r.e fire the outstanding debt, each of The Cities haa.guarA,,ood a portion of the unpaid debt based, getserally, upon it$ pro rstq I share of the energy delivered to cgnpumers in the prior opdra"ting year,' At such time as all of the outstanding debt of the }igenay is retired, and the Agency is dissolved, each City will be entitled to an undivided interest in the property based upon its pro rata t share of total payments. Subsequent to September 30, 1976, the Agency iasued_approxi- mately $50,000,000 of bonds to begin a lignite coal-fueled generating plant, of which the City's initial guarantee is t 20,34%, or approximately $10,170,0U. It is anticipated that the total cost for the acquisition of the lignite and the 9 physical facilities will be in excess of $700,000,000. It is not expected that these facilities will become fully operational - until 1981. t ~ i . 75 M r I a ~ to 4 poh,.~. f City of Denton,Texas NOTES TO FTNANCZAL'STAT&VENTS (CONTINUED) September 30, 1976 F LONE STAR CAS DEFICIENCY PAYMENT J During the current year, the City wns notified by Lone Star Gas ~r Company that the City owed approximately $11234,000 as a result, of a take-or-pay provision in the City 'son supply contr The City believes the take-or`a on act, P y Provisi to be "invalid, however, °i on advice of oounseI, in oNder to'protoot the other provisions .6 f ttie' contraot, the city began to make monthly' paym.onts, under protest, in `November 1976 Those payments are "considered to be part of the e1` "fuel, cost adj4o tmeht" which are billed to consumers in the following month, Accordingly,' the totel atpount of the liability was recorded by the City is of September; 30,,1976, "A corresponding deferred cost of an oqual amount was'reoorded Which will be "decreased as the amounts are billed to .the consumers. the City has filed suit to have the take-or-pay 'provision declared invalid and to have all pay- menu made under this provision refunded The e0rttraet'utt1, obiigatiohs''With X,ehe Star Gas C6*pany Are det6emined an a elendar'year basis. AdditionaYiy, the take-or-pa Y, 'provisions #6 a,f6cted .by; any u~rtai),s4ftts;of"supply by lone Star (~aFj, Company (the city. was under curtailment for parts of:llovember and December p 1978)', Consequently, it has not been- poseible' to. make. a reasonable okimaf6 '6f, the deficiency that might be incurred in the current year and therefb're, no additional liability has been recorded at i September 30, 1976. However) the City anticipates that a deficiency 1u of an amount aimilar to the deficiency; for calendar year 1975 oould be incurred. C PENSION PLANS The City 'participates in a pension plan sponsored " by; the Texas Municipal Retirement System, The plan is a contributory plan, covering substantially: all City employees except firemen.. Total` pension expense to the' City for the year ended September 30,-, 19760 amounted to approximately $133,000p which Ancludes amortizitien of prior service cost over a tw6nty-year period, The City'.a,poYioy p., is to fund' of vested benefits of theaplaneas ofh December actuarial, 31978pudid'notu exceed assets of the fund, 76 1 : City of Denton, Texas I ' NOTES ;CO FINANCIAL, STATEMENTS (CONTIWEb) September 30, 1976 t ►"1 G PENSION PLANS (Continued) fJ ~ The firemen are covered under the Firemen's Relief and Rettroment Plan of the City, The plan is a contributory plan, with the City's u portion totaling $34,950 during the year, it is the City's policy to fund pension costs accrued, The actuarially computed value of vested benefits of the plan as of December 310 1975 dial not exceed i the assets of the fund, H RMASSIFICATIONS i ► The restricted assets of the Enterprise Funds, which were previously j segregated as to curront and noncurrent for financial statement pre- dentation, have beon'c6mbined iri the current year arid the changes in i borking capital have been; prepared on that basis; This had, the effect of reducing the previously reported decrease in working capital for 1975 by $217,819'and $1,711,914 in the Electric $yetex and Water and Sewer System Funds, respectively, ; i t E ~ i i I I 77 } Ea ,i 41 1 } i 71, THIS PAGE LEFT MANK INTENTIONALLY ri, 1 I , I } i aa. s. 4 II I , 1 78 I s.. r-.ir... ..~5,r .1: J.. ~Ii,lr+4~rA.!t.ls~n sk2Aiii{L,LIM1,...iki'.'isSCI11.bLRifdth@.l.A'15kfraihv,R~~.•• y~ IlJ is,kL ~ 1~ 1, JI t Fir 1 f ~ 4 E E ;J E SUPPLEMENTAL INFORMATION 4 . I' (.~~t Fy.~/yFGt{~9e Ytt.. 1.. e. i.. .iHY'S) r City of Denton, Texas BONDS PAYABLE - ALL FUNDS Year ended September 30, 1976 wo 8. { Original Issue amount Interest k x date Maturity of issue rate GEN-ARAL OBLIGATION BONDS AND WARRANTS X960 Street ° ImprooVement 7-15-60 7-15-86 $ 600,000 3.50 to 3.85 1962 Street, Improvement 3-16-62 3-15-87 500,000 2.76 to 3,20 61 1963 permanent Impr oveatent " Warrants, 4-15-63 4-15-76 305,000 2,80 to 2,85 ; 1063 General „ Obligation 3-15-63 3-15-88 5000000 2.60 to 3.25 E 1964 General obligation 7-15-64 7-15-82 800,000 3.00 to 3,20 1964 Pork ' Xidorovement 7-1564 7-15-82 200$000 3.00 to 3.20 1968 Airport i x~►provea~ent ! W"r$nt,o 12-01-66 12-01-81 113,500 4.50 1966General I "ii gation 1-15-66 1-15-86 100000006 3.30 to 5.00 11 1967 Gets al Obligation 11-15-67 5-15-89 600,000 4,25 1968' general Obligation 2-01-68 2-01-88 1,000,000 4400 to 5,60 1069 oeneral Obligation 4-18-69 4-15-89 1,285,000 4.60 to 6,50 i 1970 General Obligation 9-1B-70 3-15-91 100000000 5,70 to 740 J 1971 Tax Warrants 10-01-72 10-01-77 1550000 5.00 1074 'Street `a Improvement Ronde 7-15-74 715.94 1,8000000 5.25 to 7.25 i 1974 General Obligation 7-16-74 7-15-94 985,000 5,25 to 1,25 1970 General Obligation 4-16-76 7-15-96 2,500,000 4.50 to 6.50 80 f ' .r9.• ,.i h1a1. !i,Yt. tni i a 1 } i i Maturities in Changes year ended September 30, 1976 year endirg October 1, September 30, September 30 1977 { Y leSued Retired 1976 Princinal Interest $ 250000 $ $ 25,000 $ 226,000 $ 25,000 $ 81613 j 240,000 - 20,000 220,000 20,000 6,685 400006 - 40,000 - 260,000 209000 240,500 200000 7,24o f j 420,000 65,000 3550000 6$,000 11,173 90,000 ~ 10,000 SO,000 10,000 2,625 ~ f 68,000 9,000 59,000 100000 2,430 680 000 60 000 600 boo 60 000 19 63 420,000 30,000! >3400000 30,000 160678 675,000 600000 6161000 50,000 26,250 i' fl25i000 8000,00 8650000 60;000 43,105 i 800,000 501, nn0 760,400 60P000 40,738 ~ 62,000 310000 310000 310000 11580 1,800,000 - 76,000 1,726,000 76,000 99,963 986,000 66,000 920,000 550000 53,225 ! - _2,550,000 - 21500,000 164849 $ 7,6950000 $21500,000 $6100000 $ 91685,000 $ 561,000 $603,414 W i ~ j NAJ hi 81 a ; wt ~ l"at r• City of Denton, Texas BONDS PAYABLE - ALL FUNDS (CONTINUED) j Year ended September 30, 1076 Original k interest Issue amount rate date Maturit 01~ i NLECTRIC SYSTEM - ttEVBNUE BONDS .75 to 2.90 - 11-0164 11x01-84 $4,287,000, 2 1956 5-01.55 11-01-86` 1,350,000 2.75`too .80 1954 11-01-55 11.01-85 11687, Q00 3.. g . 1956-8 1-01-81 1101-90 50200,000 3.75 to 5.50 1961 1-01-65 11-01-84 45000,000 ,05 to 5.00 1965 _Q1.68 11-61-88 1;000,000 4.00 to 8.00 1968 2 0.01 70 11-01-95 3,500,000 4.50 to.6.50 1970 95-01:72 11-01-97 6,004,000 4.00 to 6.00 ! 1.972 7-01-74 11-01-98 1,500,000 5.00 to 7.00 r 1874•, WATTIA' AND SEWER SY$TR1I REMUN; BONDS. 7-15y60 .7.15 90 1,7()0,066 4.06', 0 4.25 x986 62 1-15-62 7=15-90 1,400,000 3.00 to, 345 19 250,'680 '8.60 ta`3s40 1:964 7-~Y5-64 7-46-94 1-15M8.6 7-15-85 1,'040j060 '3,30, to 4650 1,966 4-16169 7-16-89 1,060,006 4.06` to'0'."50 6:00 1969 -93 X,600 000 4j60 to 9-15 72 7-15 , 1972 7-1674 7-15-58 2,0004060 5.60 'to 8'.50 1974h r., i 1 ftliti4}'li~liftldaNin• I t 1 1 t 1 I 1 ` Maturities in September 30, 1976 year ending September 30, Sept embgr 30,, 1977 1976 Issued, Retire 1976 Principal Interest, $166,000 $ 1,730,000 $ 170,000 $,46,X00 M 614,000 - 50,000 5640000 51;060 160617 € j 854,606 60,000 604,,000 51,0000 11j3b5 I 413750000 100,000 4,276,000 105f000 166,189 1;750;'000 - 175,000 1,575,000 175,000 40,862 t r 700;-000 60,400 660,000 501400 260850 1 t1 21940;000 - 140,000 2,800,000 140,000 .166,320 5;520;000 - 240,000 5 280,000 240,000 268,660 E _1 500,000 - 1,500,000 60,000 95,787 ~ j $19,948,000 $ $970,000 $18,978,000 $1,032;000 $8430340 k f x . $ 1,195,'Op0 $ $ 60,000 $ 1,135,,000 $ •60,000 ,$414$400 6$00000 35000 625 ,.000 350004 21,168 90,000 - 10,000 80;000 114060 2,6$0 5500040 00,000 5001000 60;000 1'7,300 790,006 60,006 7300000 60;000 37,030 1,926,000 - 400000 10386,000 56,000 71'1400 2,000,000 50;,,_000 119.50,000 50 00 118,560 6,710,000 $ - $305,000 $ 60406,000 $ 320,000 $313,608 i! I { 83 4 'I i ,w City of Denton, Toxae. FUTURE DEBT FUNDING REQUIREMENTS ALL FUNDS able a$ of Based on bonds and warren 1976 Y September'30, w Gederal,Obllsation atal r year ended Prinaioa -In_sreat ___r. { se tember 30 w " 1977 5610000 $ 503,412 $ 1,064;412 ; 655,000.. 4430810 1,098,814 1978 1979 6660000 410,636 1,065,536 1980 676,000 377,933 10053,933 1991 6771000 345,800 1,022,800 ; 1982 676,000 313;666 9890655 1983 6600060 283,103 8830103 ; 855493 1994 6000000 255,493 r 1985 600,060 227,638 8270638 1966 576,04,0 199,525 774,526 95 { 815,000 173,'058 688'#0 19$7 520, 06Q 1479168 661,1'88,. 1988 428'0 000. 122, 716 547,,.T15 19 r 89 325 ~`$Op 99''960, 424, 900 1900 1991 .326006, '82;3d9 461 300 a ' 300,# 0,00 65,860 3$5,850 1992 308 000 49,05(1 349,050 1993 3001000 31,880 331,950 1994 160,000 14,860 164,850 1990 1600000 6,760 1560750 1998 W - 1997 1998 - Total future g 585 000 4,1541632 13,739,532" t maturities , Less amounts on deposit in y, debt service funds available for funding of future 0,438) {280.438) maturities„ TOTAL UNPU"ED $130459,094 VUTnE:MATURITIEB $9$04 662 $40i64)532 84 ,ear d S i ys W y r 5. !f Electric System Revenue Writer and Slower System Revenue Principal Interest Total Principal Interest Total I $ 11043, 000 $ 824, 227 $ 1086 70 M $ 328p7 50 $ 309+ 706 $ 638, 456 1,056,$33 777,958 1,834,791 3570600 2931967 6510467 10069,000 7311087 1,800y087 368,'/50 276,518 645468 1 14 1,082,833 683,$33 1,7661366 381,260 258,516 6391.765 ti 1,095,000 836,620 1, 730,510 3871600 239,818 627,318 f 1;108,833 8860912 1,695,745 395,'000 220,934 6150934 1;1220833 537;966 1,660,799 3960250 2021561 59808,11 I P'141)417 488, 801 1, 6301218 3981'75,0 184, 963. 583, 703 1/013/760 4460583 114601313 402,'600 1671140 669,,640 11018;1,5.00 400,747 114X9,247 416,080. 1481911" 5631,.91'1 ~ 1,042,917 352,980 1,195,897 3861280 129,663, 516,"913 2 , 0631333 3031246 1 y 3881 $79 391, 250 , 111',1128 602p378 1,0421483 263,064 11296,'147 383,760 921402 4761'02 f 1,062;,917 203,1844 10266,761 3161600 741308 384;08". 5050833 ..153,864 669,497 Y90,0o0 58,999 2481994 455jtl00 126"1514 58015,14 190,000 48;350 2381860 466,000 990241 564,241 1670500 381650 208,460 4551040 75,325 5301326 1001080 291650 1200.650 4651000 54,306 509,306 1401500 23,438 123;,438 326,667 33,463 3600136 100,000 17,188 117,X88 3151000 180319 3339319 100,000 10,938 1101938 950000 4,863 990863 76,000 41688 790,688 6,250 313 61683 - ~ I 18,031,999 71791,446 25,8231445 6,3251000 2,9420320 9,267,320 (208,589) - (2081589) (34,336) i (34o338) $17,8231418 $717911448 $2506141856 $6,290,884 $2,942,320 $91232,984 k`1 85 i r-•--- r c City of Denton, Texas; REVENUE BOND DEBT COVERAGE 5 , ~1 September 30, 1976 r+ i Electric System Fund Gross revenue (including interest income) $13,869,854 Maintenance and operating expenses ;a (excluding interest and depreciation) 91616,637 NE's REVENUE $ 40,054$217 Largest 'annual debt requirement (1078) 10834,791 Debt coverage (1,5 required by bond ordinance) 2.21 Water and Sever System 'FUnd Gross rev'6 iue '(includ'it g interest income) ; 2,323,888 4taintenlince and operating expenses I (excluding interest and depreciation) 1;418,649 , NET REVENUE 2 907,309 Largest annual debt requirement (108) 8 861y467. E Dolat ooverage (1.3 required by bond 'ordinance) 1.39 ~ Y ~ •i 88 w„ , _ ~ _ =k 4 Y Sj `K 1111 _ t ~ ' ' r , i - ~ ~ E ~ i ~ Ft< f tF City of Trenton, Texas # ~ I INVESTMENTS -ALT, FUNDS t >v September 34, 1978. ~ ~ . :t, 1, i 4~ ~ ~ ' Interest ~ rate Atatvrit~ Amount ~ l < ~ ELECTRYC SXS~'EM 11JND 1 ~ Revenue bond debt service t opentime deposit f 4` First State.` Bank First'State..:8ank 8.376 11-Oi-78. $ 832,448 f ~ First. State $ank, 6.76 1I-01-78 '190,868 } ;a Time certificate of de 6,25 `14-0177 29,861 ~ Dentort Savings Association ~ '~4f '1, 6 9-30-?8 North Texas.Savin s 12,189 T~" ~ g 7.5 10-01-78 ~ ' r~~q~~,l sr --~-~r~M, 1. r~i~~~ kit ~ ~ ~ 477, 1'10 } s Revenue bend regarve ~a,``t~ ' ~ OT~sb:,,ti~na de wit ~ i :~~,r po., , , i ~fP R~ S; . , , P ~,i 1'ir~t ~~Bta'te, 'Rank 6 ~ 37b 10-01=78 : ; ~.~y,,~ First .State 1Bagk 8.76: 11-01 $ 40, ~t83 ~ 1 76 ;~tlt ~,b ~'irgt 'State,--bank 71, 249 ! ~ ~y ~'s~'. ~ ~ ;First State. Hank 7.25 Z'0-01-`!.7 8~, 077 I 4 1'i~re, aex~tifieAte of de~sit '7.60 9-30wx7. 1, 647, 648 ; ' ' ' i E i~~d<<,'~, Benton Swings Association 7~6 2-2878 j3'~~ forth Texa& $avin s 80, 550 F!i equitable Sa~inge~ A.0 3y01-7$ 83~ 0(39 ; ' s 10 02 -.78 100, OQO ' ~ ~ ~ ~ ~ I : , $1,'.988; 058 r f f,+ RevenuA bends r' yt~' Opasi time. depo-bit ~r`C` ' First State Bank 6,37b 1001- 6 ~~`'a`, , ~ ~ - first State Bank '7 $ .264, 29.0 ~ . 875 11~-01- 8,' ~ first State Bank 7.26 7 3; 864 ; . . 1231-78 302j 701 ! .<< ' ,~zt, ~ ~ , d S I ~ ~S1~~7 ~ ~ r~ i i ~~i ~ ti r 1 ,i Ix ~ , fj ~{Gi,~ ~ ! , ; i ~ rk r ~ i r t, ~ 87 ; x.. , _ . _ N, r ~ . ` g y 5~ f', t'~~'~ y ,tt 'vA f4 r r z )r ~ ~ ~ r ~ f ` i 'v. t-i , 1 FF City of Denton, Texas INVESTMENTS - ALL FUNDS (CONTINUED) September 30,1978 Gt interest r fi rage Maturity Amount a. _ WATER AND SEWER SYSTEM FUND, Revenue, bond debt servicef open time deposit Ir ` First State Bang 6,375 10-0146 $ 520916 t First State Bank 6.75 11-01-75 13,789 7 Iw First State Bank 7.25 10-01-77 7.90 431 $ 85,,135 , , `,rFt Revenue bond reserve Ope,a. time deposit 1 ;'F ~ ~tt first State Bank 6.75 1141"-76 $ 16, 620. First State Bank 7,25 10-01-77 15,690 First State Bank 7.5 0-30-77 419, 821 Tjm6 eertificate of deposit ,i.c r= Denton Savings Association 7.5 2-28-78 140598 ' North Texas Savings 7.5 3-01-78 ' 12, 123 i i $ 979, 762 ~rrF~ ' I Sewer revenuebold a7; {open time ;deposit First State Banff: 6.75 11-01-76 $ 70379 First State Bank 7.25 12-31-76~ 61,36 68p'741 YNTRA60VERN9E:N1`k SERVICE FUND Tifte c6rtf fieiktea of deposit ' p l L~rf tya14 ' " Denton Savings Assopiation 7.5 2-28-78 $ 14; 608 , rElr }°,r` , North Texas Savings 7.5 3-01-78 120123 F'' ; ? $ 26, 821. f 6.. q ,c ~Q M.r a ` y e if 'i f, r ;a i CitY of Denton , Texas I 'NVESTM2NTS - ALL FUNDS (CONTINUED) September 30, 1976 R Interest j_ rate Maturit STREET xMPROVEMENI Amount ; BOND Open time deposit RIND > first State, Bank First State Hank 6.375 10-01» 6 , 375 11-01..78 76 $10180, 207 +1 s $1,180,227 { PARK Open titl,S deposit First StAt! Bank frls,~ Fiat State Bank 66.378 ,376 16=0 1-76 $ ,E 024, 180 11-0178 y) 1 $ 9240 976 aiERAL DEBT SINKYNO FUND _ 'r...~ Open tike deposf t iil t ( Firs State Batik 8 3 i" State batik .766 10-01-76 $ 53096 First 1 6 Is<f State bank 7.26 11-61-76 107, 124 .10-01 113,19$ f $ 274, 378 r 1EDRRAT, RVEN 9, 89ARYNO FUND w~.~.. Open time deposit f, First State Bank First 'State Bank 6.375 10-.01»76 $ 92, 47g ii First State 7,26 12-31-7S f „ 11g 667 iffk,, Sank 7:26 10»01»77 Q, 00 (Fi '1 of '.f l 5 ` ,f f fi J 231,145 ?p 1i ff ~ x , f 4 ,,9.,k , t f , y~r 'fit a+'ta e` ep S, f [ t ~ j 1 f gol IPA i 5 ai ry { THIS PAGE LEFT BLANK INTENTIONALLY } Y} rf 1 1 Y +r F} *H 1 e yy~~51 `t( i f~ f d i jly l'. [ 1. l T~y,~W, Vrt Y, td+r E t r- r E CF}r tf X.A Pefiiae 1 ~ e(I~Afs ' t ' ,~3~ti L e¢~ 7 i..... 90 F r it+ )t1 7 1` {j 4 it`d i4 1 1 ! , 1, t t t ~ t r \t~ d `~?S rat {t r \ ! . Y r'f fa , iv ¢a14 .Y.'£. `r•f^ a''C~4 r~'rl`f~f~~}t v )z 1` t ' I p J nt • 4Y:. ',5 ' Zrj~t`~/~t'4ak, ~'~f i ti r r t t i a}; ~ii~ ~li~fL#t~{~~~f1t1~.~42.:t2+~: t:S''~,U~tCk~'..._.t,..~~._~ t r+ } !VI Y~Lt i. ! r' t y}~ + y ' I y III 1L ~ I , v j + r f STATI$TICAL DATA ~r r { t fsy~~tt`S ~ rr ik li ,N F~3 I ~1+ ylHr] r r r Est, + Flt i' < Sj}t ~ ~ y tt t ILglj T~~F.tjyyj G~+ftl y, , rt1 IiS I t ~ - r i 111 i :l y ~ r .i41y5 v t <t s" F'. J ish i4~' V t 1 ~ . r~f / x ] a s y,. , 5i , t h ,i!~d Ery'I t vx i e t ,!I ,/ta ~ t , City of Denton, Texas fsw.,.. a INSURANCE IN FORCE September 30, 1976 Policy Expiration a, Insurance Company number _ date St. Plow , Fire & Marine Ins. Co. CR 8730 9-1877 ` rrl; The Cl')1ity & Casualty Co. of N.X. BND 1991826 11-05-78 ~'i.. r American . Indemnity Co., BiSC 2202102 12-18-78 r, The Fidelity & Casualty Co. of N.Y. PG 51887992 2-24-717 r The Fidelity & Casualty Co', of N,Y. IMH 183290 11-01-78 r!N l 1 The Fidelity ~c Casualty Co. of N.Y, F7946032 10-01-76 s ~ - Employer Casualty Co. CAF-A-194498 1 01- a i ~ s •j ~i~t(€ ,51 i W I Fjartford (Twin City) Fire Ina. Co, 46PS1011374 1-'0177 N .1 'd l IlWrTexas Imployers Ins, Assoc. TML-A-0103 7-'01-'77 1 jr Fidelity '$c Casualty Co. of N.Y. PG 6180701 1 blue Cross ~ glue Shield Ins, Co. Group 24880 Ma y 1 E yearly, premiums monthly t iti ~ s 1 r i ~ Z'i +i l MCP ~ rl ~F ~}trka,' "u United States Fire Ins. Co. 9HA64335 1-16-78 r. 'AULP i • , P•.a,r, .1.'.'1'.. 6 !i... .:Ik L. 1 i, ~1 sY.'jt. i J. {`r1J f,'n, l.v .Lxb IiiS .n b :a(r•e.: j:. . s , . it 11 Fr Py1a+. sp ,I , 1 i t r l -1.~ 4 .,~J I t 2 i f ~V i s its}~Il2i 1 5~~57 ~i rE ~ fi Coverage Amount or limit ' Faithful performance bond - Tax Assessor $ 10 000 ti i Faithful performanao bond: City Managor 72,500 < ~ Director Uf Finance 79'600 s Each employee Assistant City Manager 72,5oo Robbery inside premises 10,'000 Robbery outside premises 10800 Comprehensive glass policy -City Hall ' Total lass t 1 utility accounts receivable - destruction of gtt s,t records Sri # 6600600 Fire aad extended coverage on utility systeue f! buildiag•ind contents; And newly ae4dired j xz„ buildings and their contents -.90% coinsurance 2 ,1",013, public liability; General: 3 Bodily injury 300/3000000 Property damage 30 000 i Automob' ile: `j Bodily. injury 100/300,000 property, damage 50, 000 `s General boiler and machinery 6,000 Ow, > Workmen's compensation As stated in M.C. law Comprehensive glass policy - library Total lots fit 1 . Group accident, sickness and life coverage on ; Pull-time employees Group accident, sickness and life coverage on 67, ~r„ 6u police reserve 44 . r r se ~ ut77 a Ti,t - r a t ]O t ,r 1, • p 5 a r. 7 a~ I.. WMA9 i City of Denton, Texas ASSESSED VALUATION AND TAX ASSESSED Assessed valuation y f, year ended ea- ersona Septet 3b property _~ro erty m Total Tax assessed r _qber $47t4030190 $11;,266j665 $ '58, 658, 875' $ 879, 883' i ' t 1987 t 1988 49 367 720 12,222,198 61,589,918 923i$49 1889 52, 065, 360 14934-0931 67, 006, 291 11 005; 004 it 1970 66,417,090 15,658x946 710078,036 1,066,141 p~ 1911 60 539 722 16;4060918 76,946,840 1164,198 # 1972 66,230,863 16,901,390 83,132,263 1,4130248 1973 76o0711409 18, 484, 313 95, Y55, 723 11 617, 647-, 1974 821409,280 19,813,660 102,222,840 1;7370788' •1975 89, 983, 677 22, 275,049 112, 158$726 1 906, 698 1976 95,735,078 28,592,085 124$27,133 2,113,561 r { TAX RATES y1' The constitutional and statutory tax.rat6 litAit, including debt service, is $2,50 on;eaoh $100,00 of.assessed'valUation.' Fbr the year ended, September 30, 1976, the City of DP+ntcn' a tax rate `isi 1 ,t $1:70. on eAch $100;00 of 'assessed valuation. The assessed v iozi 4d~ , t is 40% of true estimated value. TAX DUE DATES AND PENALTIES L,w Taxes are due on October 1'and becoioe~delinquent on February 1. Taxes may be paid in two installments, dne_hall by ; `mo't December 31 and thb balance before,Maroh 31. Penalties. due on delinquent taxes accrue; February 2%, March' 6%0 :Apri't'opr May, mo interest on delinquent taxes in addition to penalties anorues at the rate of j./2% per month. No discount is allowed for early pay-~ ir,.. relent. J it fem. 9.1 p y - i u ' l 5. a~4 ~JXr' ~rt~U tier ct , a ,Y r< r y, 4 ' r nth: ~ rs. T . t L 1~ 1~ s"; if " , ~i ! 1. yl.a;l.,. S, ~ ~ ~ City of Denton, Teaa~t E: A° TAX ASSESSMENT AND COLLECTIONS ~5; i 1 X Per.~c+entage ~ Calleot~lon of of levy auxrent year's coileo~ed ' Year ended Total. ear during year * taxes during y„ ~ ~ September 30 asse,._ $S~nt 1987 $ 811, 654 92.47 87~, 6$7 ~ 94 49 ~ ~ 1968 923,849 673,030 92..64 , 930, 879 ! J ~ ~ 1989 1 bbb 004 99x,428 1; b57, 259 94.10 1970 1 088, 04? 9 5.7$ • ~ 1971 1, 135,935 1 349 462 95.E?8 1 °1972 1#409 244 ~ ~ 1..1 1 813, 280 1, 643,1$8 913:58 s, ...1973: + 1 671,93'8 " i` 1974 1, 73Y, 452 1 ~ 813, 818 95,48 ; 2' p~ 1975 I, 900,Obe ~ 9S, OA '`~r ` I ~ 1978 2,107, 818 2, OO?~, 428 ' . 1~ . ~ 1 r, ~~rf r ' ~ ~ t xiiy 1 ~~i ~ ' ~ i t~ } 1 , i r~~ e L°A~1 ~ t 1 ° res are ad~ueted to inolude, debit rind dr~ctit ~f.~ ,1< , a *'Ibtal tax levy tigu ~~~ii ~~e' ~8'~~. _ ~ 1 ~.1 , I,t{ 1 ,r, ,I r 88 +pl f ji ~~~~t 1 I~~ir r, . ' t ~ ~ ~ , ~ 1 .ir SPt 1~ ~ ti i ~ , 11 1 ~~rl~ tr ' 1 ~ ,~fil " t l~~S ~4c1 ' 1 "1:'. f y1 ~y~ 4r a r < S~'~11~1t1 ~111a' ~ , 1°1~~(~`~1 ~ ~Sr T 2 ' . l' j Yy y}T5 3+~,. 4fl li ~ ~ ~ i fff ~ 'S~'1 ~ i ~ c 14 ; 74~~ 4 Mfr r ~ i~, i }3+ ~ r r Yt'r 1 l f . " . ; ~ t iuw . . t,. , . 1; . ~ ;11 , ,r '1~ ~a ~c , i 414 (p 1 I ~f ySl I~rj ~a ~ ~ ' ~ r~ 5 t~ r lit il~. y 1 1 r r 1. S ~ 3" ,?~1 ~'1 § 1 i ~ "-fir ~.es ^..~~1~`+i1C41~k' t "t r t'4stG d ~A~ ~1A 11 1r~rYrr l 1 e `1 i a n I i City 0f Denton, Vexas f MISCELLANEOUS STATISTICAL DATA September 30, 1976 r 1 STATISTICAL DATA AS OF SEPTEMBER 30, 1978' ~ Area•,of City 33.2 square miles Date of Incorporation September 26,` 1866 ; t Total, City Employees., 538 (including seasonal employees) , E 1 1972 Estimated population 41, 000 ; Tax rate per $100 valuation 1.70 ' Assessed valuation $83,132,253 Electric production (kwh r f 405, 8070;140 1: Water production (1,000 gallons pumped) 2, 5620 832 E Electric oustomors 11 837 I Water customers 11,033 I, J General Fund revenue $3o4540148 General Fund expenditures" $30631t410 , .,F 1 " E rt 1 i I r , ae4vr, i III 1973 _ 1974 1975 1976,: 43j500 43, 600 430700 46)800 i 1.70 1.70 1.70 1070 Fai $95,156, 723 $10202220840 $112p 168, 728 $1240 327,133 t •I 439,736,000 648,6870100 612,237;100 624,041,400 2, 00, 000 2j400'028 21,'633, 943 206550,687 12,227 13,023 13,289 13,988 110251 Y 1, 363 11, 691 19, 013 $4,141,801 $41480,056 $4,004,189 $6;269,098 $3,8980631 $40219,859 $4,804,176 $5,580,779 1~d . , ~ 97 ; l y 1 fS i n i { j} JA E. s; 7{ i r Pt t~ 4I 1 1 :jt s t~ S