HomeMy WebLinkAbout1977 - 1978
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ANNUAL
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REPoR!r
1 + 1977&*,,*1978
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FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION
CITY OF DENTON, TEXAS
September 30, 1978 }
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CONTENTS
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0 LETTER OF TRANSMITTAL 6
i+ FINANCIAL STATEMENTS AND AUDITORS' REPORT
AUDITORS' REPORT
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4 SUPPLEMENTAL INFORMATION
COMBINED BALANCE SHEET ALL FUNDS
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GENERAL FUND
j FINANCIAL STATEMENTS - SEPTEMBER 30, 1978 and 1977
BALANCE SHEET STATEMENT OF REVENUES AND TRANSFERS, la
EXPENDITURES AND ENCUMBRANCES
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STATEMENT Of CHANGES IN FUND BALANCE 2
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SUPPLEMENTAL INFORMATION
i STATEMENT OF BUDGETED AND ACTUAL REVENUES
AND TRANSFERS 21
STATEMENT OF APPROPRIATIONS AND EXPENDITURES 1
AND ENCUMBRANCES 24
SPECIAL REVENUE FUNDS
FINANCIAL STATEMENTS - SEPTEMBER 30, 1978
BALANCE SHEETS 32
STATEMENTS OF CHANGES IN FUND BALANCE 34
SUPPLEMENTAL INFORMATION f
DETAIL OF MISCELLANEOUS SPECIAL REVENUE
FUND BALANCE 36 ~
* STATEMENT OF REVENUES AND TRANSFERS, EXPENDITURES
AND ENCUMBRANCES FEDERAL REVENUE SHARING FUND 37
GENERAL DEBT SERVICE FUND
FINANCIAL STATEMENTS SEPTEMBER 30, 1978 and 1977
BALANCE SHEET 38
STATEMENT OF REVENUE, EXPENDITURES AND
FUND BALANCE 39
CAPITAL PROJ90TS FUNDS
FINANCIAL STATEMENTS - SEPTEMBER 30, 1978
BALANCE SHEETS
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STATEMENT'S OF CHANGES IN FUND BALANCE 42
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~U FINANCIAL STATEMENTS (CONTINUED) Page
ENTERPRISE FUNDS
ELECTRIC SYSTEM FUND
FINANCIAL STATEMENTS - SEPTEMBER 30, 1978 and 1977
BALANCE SHEET 44
STATEMENT OF OPERATIONS 46
STATEMENT OF CHANGES IN SYSTEM EQUITY 48
STATEMENT OF CHANGES IN FINANCIAL POSITION 5O
" SUPPLEMENTAL INFORMATION
• STATEMENT OF BUDGETED AND ACTUAL REVENUE 52 '
STATEMENT OF APPROPRIATIONS AND EXPENDITURES,
ENCUMBRANCES AND TRANSFERS 53
j WATER AND SEWER SYSTEM FUND i
J FINANCIAL STATEMENTS - SEPTEMBER 301 1978 and 14977
BALANCE SHEET 56
STATEMENT OF OPERATIONS 58
STATEMENT OF CHANGES IN SYSTEM EQUITY 60
STATEMENT OF CHANGES IN FINANCIAL POSITION 62
SUPPLEMENTAL INFORMATION
STATEMENT OF BUDGETED AND ACTUAL REVENUE 64
1 i 0 STATEMENT OF APPROPRIATIONS AND EXPENDITURES,
1 ENCUMBRANCES AND TRANSFERS 65
INTRAGOVERNMENTAL SERVICE FUNDS
' FINANCIAL STATEMENTS » SEPTEMBER 30, 1978
BALANCE SHEETS 68
U STATEMENTS OF OPERATIONS 70
STATEMENTS OF CHANGES IN INVESTED CAPITAL AND
RETAINED EARNINGS 71
TRUST AND AGENCY FUND
FINANCIAL STATEMENT » SEPTEMBER 30, 1578
BALANCE SHEET 72
GENERAL DEBT
FINANCIAL STATEMENT - SEPTEMBER 30,1978 and 1977
STATEMENT OF GENERAL DEBT 73
SUPPLEMENTAL INFORMATION
w STATEMENT OF CHANGES IN FUTURE REQUIREMENTS 74
GENERAL FIXED ASSETS_
FINANCIAL' STATEMENT SEPTEMBER 30> 1978
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS 75
0 NOTES TO FINANCIAL STATEMENTS 76
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' BONDS PAYABLE - ALL FUNDS 86
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STATISTICAL DATA
ASSESSED VALUATION AND TAX ASSESSED 92
1 TAX ASSESSMENT AND COLLECTIONS 93
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INSURANCE IN FORCE - 94
i MISCELLANEOUS STATISTICAL DATA 98 it
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C1rY of DENTON, TEXAS MU 00PAL BUILDING / DENTON, TEXAS 76101 / TELEPHONE (817) 381, 9601
January 305 1979
Mr, G, Chris Hartung
City Manager
• City of Denton
t; Denton, texas
Dear Mr. Hartung.
k f s' The annual Financial Report of the City of Denton, Texas for the fiscal year
M ended September 30, 1978 is submittP.i herewith,
Accounting System and Reports
The accrual basis of accounting is followed by all funds other than budgetary
0 funds (Generals Spacial Revenue, Debt Service Funds and Capital p04Je0ts),
which utilize the modified accrual basis of accounting, .The eno~k`tibrance method
of accounting is used for all funds for purposes, of preparing and reporting on
the `City's budget] for `external reportingg, the encumbrance method of account-
ing is not used in the Enterprise and lntragovernmental Service Funds,
0- Budgetary control !s maintained by an annual appropriation system--and the
encumbrance of apiropriated balances with purchase orders prior to their re,
lease to vendors, purchase orders which exceed appropriation bal-~nces are not
released until adrtitional appropriations are made available,
~ General Government Functions
Revenues for general governmental functions totaled $7,982,148 in .1977-78, an
increase of 28,0 percent over 2976.77, Weral property taxes produced 24,,3
percent of general revenues compared to 26 1'percent last year, The amount
of revenue from various sources and the incraase over last year are shown in
50 5 the following tabulation;
6
G. Chris Hartung
Increase
Amount percent over 1976-77
Thousands of Total Thousan
,935 24,2 $ 334
Property Taxes and PAnalties $ 11,769 22,2 367
Franchise and other Taxes 93 1.2 36
Licenses and Permits 325 4,1 22
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Fines, Forfeits, and Penalties 887 11.1 .338
Current Services 1+153 14,9 $ $887
Charges for
Utility Fund contribution, 1 779 22,3
Other Revenues $ rltyi 00, +
Assessed Valuations of $271.3 million represented an increase of 98.7 percent
1 over the preceding year.
The ratio Oftotal collections (current and delinquent) to the current tax
levy for 1977-78 was 95,21 percent.
I including debt service,
and statutory
The tax rate distribution for
The constitutional assessed tax rate imit,
$2,50 on each $100,00 Of
1977-70 and the preceding two fiscal years is as follows;
197_ 7y,-78 1976.77 1976_ i
___a- 1,1233 ,8160
47728 6667 ,8840
General P'und ,4672 ,
Interest and Redemption Fund 1.7800 1,7000
1,2400
Total Tax Rate
f 798,456, an increase
{ Expenditures for general governmental purposes totaled $7, for or
I of 27.2 percent over 1976.77, lrec~diyg year levels s shown xpnntheufol
functions of the ci'cy over the p lowingaab
1 ulationr Increase
Over 197677
Amount Percent Thousands
Tho ands o, fT al ---nds
Last ~10 n $ 114
$ 1430 39 6,5 8
General Government 1.8 11
323 4,11
1
Laya nity Development 41 16 1
4efense -49 16
pe, , inel 630 618
Finance 949 12.2 161
61
Health & Sanitation 251 3.2
M Data Processing
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Mr. G. Chris Hartung
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Increase
Amount Percent Over 1976-77
Function-Continued Thousands of Total (Thousands)
Police $ 11314 1619 $ 174
Fire. 1,344 17,2 375
z Street & Bridge 11049 13,5 256
Parks & Recreation 666 816 171
Library 219 2.8 43
Traffic ,4 8
a`. A
irport 120 1 J (24)
t, City-County Health Unit 64 .8 7
Flow Memorial Hospital 211 217 211
p; Other 94 1.2 16)
ll' $ 7,198 0.
z~ $
• Debt Administration
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The ratio of net bonded debt to assessed valuation and the amount of bonded
debt per capita are useful indicators of the city's debt position to municipal
management, citizens, and investors. These data for the City of Denton at the
A end of the 1977-78 flsoal year were as follows;
1977-78` Actual Valuation $ 4629232,448
1977-78 Assessed Valuation (60% of Actual) 2719339,229
Total General Obligation Debt $ 11,633,934
♦ Less: Amount Available in Debt Service 3 4g9
r ; Net Debt 2105010525
Ratio Net Debt to Assessed Valuation 4,24%
1978 Estimated Population 61,500
Per Capita Assessed Valuation 51269
Per Capita Net Debt 223
During tho past year $665,000 of tax bonds were retired,
Outstanding Electric Revenue Bonds at September 30, 1978 totaled $19,2551000[
During the past year $1,0440000 of Electric Revenue Bonds were retired and
$16,902,000 were defeased by tha issuance of advanced refunding bonds,
Outstanding Water & Sewer Revenue Bonds at September 30, 1978 totaled $69230,000,
During the past year $355,000 of Water and Sewer Revenue Bonds were retired.
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hlr. Gf Chris Hartung
The city's bonds are rated as follows;
Moody's Standard & Poor's
General Obligation Bonds A-1 A+
Electric Revenue Bonds A A+
Water & Sewer Revenue Bonds A A
F,
As of September 30, 1978, $2,573,493 w.1s on hand in the Electric Reserve and
Contingercy Funds and the sum of $561,590 was on hand in the Water & Sewer
Af M Reserve Fund, These amounts exceed the requirements as specified in the bond
ordinances,
Cash temporarily idle during the year was invested in time deposits and
say- ings accounts,
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Capital Pro.iects Funds
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I During the fiscal year ending September 30,L19789 water and sewer revenue bond
issues accounted for expenditures of $337,853 in water and sewer'capit,al pro-
Jects and electrical revenue bond issues accounted for expenditures of $3990879
r in electrical' capital projects, Extensions and improvement funds in the amount
of $386,267 were expended for electrical capital projects,
Authorized but unissued bonds at September 30, 1978 totaled $10,500,000 as
follows:
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General Obligation $ 600 000
Revenue {Electric) $ 3,000;000
Revenue (Water & Sewer) $ 7,000,000
Capital project fund balances on hand at September 30, 1978 consisted of
M $1,567,849 in cash and investments,
General Fixed Assets
The general fixed assets are those fixed assets used in the performance Of
general governmental functions and exclude the fixed assets of utility and other
enterprise funds, As of September 30, 19789 the general 'fixed assets of the city
amounted to $23,2581582, This amount represents the origindl cost of the assets
and is considerably less than their present value. Depreciation of General fixed
assets is not recognized in the city's accounting system,
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r Mr, G. Chris Hartung
"0 Utilities S.vstem
The city's olectric system had a successful year and continued to show gains
in gross sales. The Water & Sewer System had an increase in gross sales and
a net gain Comparative data for the past two fiscal years are presented in
the following tabulation:
Electri^ S stem 1978 _ 1971
Gross Income $ 18,960,745 $ 171942,976
y' Net Income Before Transfer and
k Extraordinary Income 3,1991647 3,393,476
Income Available for Debt Service 5,367,616 5469460
Largest Annual Debt Service Requirements 10922,815 1,841,252
Debt Service Coverage 2.79 2,86
w Water & Sewer System 1978 1977
Gross Income
3,651,375 $ 2,572,785
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Net Income Before Transfer 6920908 5,946
Income Available for Debt Service 1,572,508 868,881
Largest Annual Debt Service Requirements 678,668 6809817
E Debt Service Coverage 2.32 1.28
The City Charter requires ar, annual audit to be made of the books of account,
financial records, and transartions of all administrative departments of the
city by a Certified Public Accountant selected by the City Council, This
f i requirement has been complied with and the auditor's opinion has been in-
cluded in this report,
The preparation of this report on a"timely basis could not be accomplished with-
out the efficient
and dedicated services of the entire
staff of
the Finance
Department. 1 would like to express my appreciation to all members of the depart-
a r ment who assisted and contributed to its preparation, 1 would also like to thank
Y your office and members of the City 'Council for their interest and support in
planning and conducting the financial operations of the city in a responsible and
progressive manner,
Respectfully' submitted,
W H. McNary
Director of Finance
WHMC/Jc
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FINANCIAL STATEMENTS AND AUDITORS' RRpoRT
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INTERNATIONAI FIRM
Alexander Grant
a 00MPANY ALEXANDER GRANT TAN9L E1' WITT
OER!lF IfiU PUBLIO A00OUNTAN70
Honorable Mayor and City Council
City of Denton, Texas
We have examined the financial statements of the various
,i a
funds and account groups of the City of Denton, Texas for the
year ended September 30, 1978 as listed in the foregoing table
of contents. We have also examiner; those financial statements
for the year ended September 30) 1977 listed in the table of
=C ~ contents. Our examinations were made in accordance with generally
„ accepted auditing standards and, accordingly, included such tests
of the accounting records and such other auditing procedures as
i we considered necessary in the circumstances,
The net carrying value of the electric system utility
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plant in service was increased to the appraised replacement
value, as determined by independent consulting appraised values
i~ September 30, 1967 (Note A) A). . The
s in excess of cost and the charging of annual depreciation of
~I $283,189 of such excess value dirtotly to System Eq Eqaccepted rather
ccepted
than to A accountingpeaseprino is iples. not in conformity with generally Had the appraisal values in excess of
` cost not been recorded, the Utility plant in Service and System
Equity shown in the Electric System Fund would be reduced by
$107380750 and $21019,809 at September 30, 1978 and 1977,
f I respectively,
In our opinion, except for the effects on the financial
° in
statements of the Electric System ruad of the matter described
the preceding paragraph, the aforementioned financial statements
and
I recent fairly ofethenCityaofpDenton=,"Tof th exase varSepious funds d 30, 1978
account groups
1977 the
a
al posdition of thesEnof their terpriseoftnds for the
the nd at Seeseinefinanci
'AO .I
L/ years then ended, in conformity with generally accepted aoc uating
rinciples applied on a consistent basis after restatement
n the Enterprise Fund for the change, with which we concur, in
the method of reporting transfers to the General Fund more fully
described in Note 9,
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Our examinations were made primarily for the purpose of
formulating the opinion stated in the preoed+.ng paragraphs The
supplemental information as set forth in the foregoing table of
contents, although not considered necessary for a fair presontation
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ONE MAIN PLACE DALLAS,TX76260 (214)148.0100 "
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of financial position, results of operations or changes in
j financial position is presented aso c supplemental information and
has been subjected to the audit predures appl ied in the
examina-
KIP tion of the basic financial statements. In our opinion, the
supplemental information is fairly stated in all material respects
in 'relation to the basic financial statements taken as a whole,
The statistical data on pages 92 through
98
summarized from City 'records by City employees and washttotbsub-
,jected to the audit
• procedures applied in the examination of the
basic financial statements, Accordingly, we do not express an
opinion on such information.
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Dallas, Texas
December 8, 1978 i
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City of Denton, Texas
COMBINED BALANCE SHEET -ALL FUNDS
September 30, 1970
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General
Special Debt Capital
General Revenue Service Projects
ASSETS Fund Funds Fund Funds
cash $ 56,646 $ - $ 403,831
Eju ty in pcOled cash $ 448,783 2,140 - - r`I
Time deposits and 32,409 1,1841018
accrued interest h
Receivables » net 529,434 129,295 - -3940070 ; i
- 621+231
Due from other funds 194,910 40,380
Inventories
i Prepaid expenses
Restricted Usets
Property, "plant and _ i
equipment - net
Investment In other
funds
Amount of future require - -
ments for retirement
ofgeneral- debt "
? F Amount available for
debt service
$ 19173,127 $ 227,461 $ 32,409 $ 2473,160
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MINAVI
' Water and lntra- Trust General
Electric Sewer governmental and General fixed
System System Service Agency deb _ assets
Fud_, Fund Fund, s Fund: -
$ _ $ $ 222,962 $
$ "
104250342 292,818
501
5,047,226 4,856 272
52 -
3,897623 _ _
1304570350 150498 _
973,485 478,443 r
47,379 4,827 570
3,345,296 1,282,897
23,996$426
11s7141103 19448l370
26,495.72 11,714;103 1,448,370
180IM7 1080976
05 11,529,066
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$ 23,996,426
$ 22',
41u430,419 $'13,573,008 $ 2,398,952 $ ,952 $ 11,533,434
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City of Denton, Texas
' COMBINED BALANCE SHEET - ALL FUNDS (CONTINUED)
September, 30, 1978 r
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LIABILITIES, RESERVES, General
CONTRIBUTIONS, FUND Special Debt Capital
BALANCES AND General Revenue Service Projects
RETAINED EARNINGS Fund Funds Fund_ Funds Deficit position in
pooled cash $ - $ $ - $ 139,192
Accounts payable and '
accrued payroll 261,948 1,772 - 261,565
Deferred revenue - 6,993
Liabilities payable
from restricted w y H -
atsett
Daposits "
Bonded debt a.}id notes
Dud to:nth&r funds 1010627 164,619 279641 6290782
r Resa~rVes 497,345 61832 - »
Encumbrances outstanding 37,946 - - 347,486 c,
Unrealized increment
' in valuation of
atility plant in
Sa'rvi Ce "
InvostMent_by' other
Indeatment`In general
fixesi assets - - '
Co6tHbutions by munici j
palify and governmental -
agencies
t,ontributibns in aid of g,S
' const14u0t'ion
Regained earnings -
25
Fund balances 274,061 48,245 4,H68 1,194,5
$ I,173,127 $ 227,461 $ 32,409 1 2,673,160
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intra< Trust General
t Water governmental and fixed
~ Electric sewer Agency General as5eta
1 w System System Service Fund debt
Fund und
$ $
$ " $ 627,108 $ 362,022 $ '
1,b59,406 67,121 90,468 2220952 +
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1 692,860 468,820 '
,t 232,489 11,633,934 "
18,904,803 6,057,908 127 }
2571967 430537
2,673,493 551,590
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~ ;1,736,75n - "
289,722 "
f " 23,996}426
2,848,481 11038,268
149,783 21427,403 618,345 "
10 15,202,878 4659040 "
$ 13,573,008 $ 2,398,962 $ 222,962 $ 11,6330934
$ 41, 00 , 419 ,...»w•r~+~
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City of Denton, Texas
• ; General Fund
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BALANCE SHEET
September 30, 1978 and 1977
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ASSETS ,
1978 78 _ 1977 i
44,763 $ 39,413
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Equity in pooled cash (Note C) 497,346 367,063
Delinquent taxes receivable (Nota A)
Miscellaneous Wounts receivable (net ,771
of allowance for doubtful accounts of 3210 14
89 32r~
$24,600 in 1976 diid $10,000 in 1977) 194,91
0
Due from other funds
$ 1,173,127 $ 742,480 ~
L1 jLjTTES, RESERVES AND FUND BALANCE t
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$ 69>2]1 $ 440875
152,671
Accounts payable 192,737 E
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Accrued, payroll and payroll taxes 1827 6
Flue to other funds 363,775 26608S4 I
i Total liabilities
+ 19 215 i
37,946 i
Encumbrances outstanding
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_ Reserve for delinquent taxes 4970345 367,OH3
67 363
2.. 061_ 89 I
Fund balance j
$ 1,173,127 $ 7429480
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The accompanying notes are an integral part of this statement,
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ip71 l; City of Denton, Texas
F General Fund
STATEMENT OF REVENUES AND TRANSFERS,
EXPENDITURES AND ENCUMBRANCES
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Years ended September 30, 1978 and 1977
Revised
• budget Actual Actual
1978 1978 1977
r Revenues
General property taxes
Current $ 1,935,024 $ 1,873,265 $ 1,450,848
1r • Delinquent 500000 43,978 72,978
Penalties and interest 19000 18,984 28 580
2 4 1 936,227 115520406
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Other rayenues
Other taxes 1,627,243 117689665 11401,760
• Fees from revenue
I producing facilities 9110500 887,433 832,983
Fines and fees 322,700 3260247 3020842
Lice6ses and permits 77,450 93,056 57084
Miscellaneous 340 66 403 177 250 522
Transfers from other
funds 26636,138 ,1~38 29568,943 V, 9 760
Expenditures and
encumbrances
Salaries and wages 4,7199757 4,7270397 3,884,490
Supplies 479,320 468,217 433,107
Maintenance 641,486 7801998 618,415
Services 11110,399 10058,461 840,763
Sundry 200921 11405 15,623
Capital outlay 344,134 314,494 108,752
Nondepartmental
expenditures 344,680 368,272 166472
Insurance 61►~08~4 68d,11b f 089
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EXCESS OF REVENUES
AND TRANSFERS
OVER EXPENDITURES
AND ENCUMBRANCES $ '176,540 $ 184,653 $ 62,856
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The accompanying notes are an integral part of this statement,
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NAPA
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City of Denton, Texas
General Fund
STATEMENT OF CHANGES IN FUND BALANCE
f Years ended September 30, 1978 and 1977
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1978 1977
Balance at beginning of year $ 89136$
1 $ 26,612
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Excess of revenues and
transfers over expenditures
and encumbrances
784,693 62856 r
Balance at end of year
$ 274,061 $ 89,368
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The accompanying notes are an integral partOf this statemsntl
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.888877.
City of Denton, Texas
General Fund
STATEMENT OF BUDGETED AND ACTUAL REVENUES AND TRANSFERS
It
Year ended September 30, 1978
r,
Revised Actual
* budget Actual rior year
GENERAL. PROPERTY TAXES
Current $ 11936,024 $ 1,873,266 $ 1,450,848
1 Delinquent 500000 43,978 72,978
r1 Penalties and interest 19 000 18 984 28,680
424 1,9361$227 2`27 1,6520406
Y OTHER TAXES
li Sales 1,400000 1,535,627 11197,962
Franchise - lone Star
Gas Company 84,744 84,744 76,880
Franchise - General
Telephone Company $55499 650499 600051
Mixed beverage 20,000 22,795 199675
Notes occupancy tax 57 000 600000 47 192
11627:24,1 1oltuObS r, CfT;'1~
I h FEES FROM REVENUE-
PRODUCING FACILITIES
Garbage charges -
residential 434,000 4069176 405,439
Garbage charges:-
' co*ercial 36?,V60 3690502 337,897
ow S%11*1ng_pool 100000 160116 1,1,984
cemetery fees 600 10120 390
Community building
rent 40600 5,724 2,g7
Airport rental 14►000 15,489 12,8 3
Garbage penalty, 130700 13099 16,'350
Special pickup service 2,700 3,136 20961
Recreation program
activity foe 30040 31,149 43,242
Athletic program fee 120000 12,969 -
Ambulance service fee 2,4
00 23865
911 0500 88TO
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PINES AND FEES
Corporation Court 306;600 307,533 284446
Animal pound 3;060 2,798 6►3 8
Automobile pound 51500 10760 5,814
Court cost service fee 11200 2,037 871
N Police funeral escort
and guard fees 6,183 .29 , 3261 ►
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City of Denton, Texas
General Fund
STATEMENT OF BUDGETED AND ACTUAL REVENUES AND TRANSFERS
(CONTINUED) r
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Year ended September 30, 1978
Revi<,;ed Actual
budget Actual prior year r,
I LICENSES AND PERMITS
Zoning permits and
petitions $ 4,800 $ 5,990 $ 40500
Tax certificates 3,000 3,934 31167
Electric and plumbing r
licenses 41300 49152 4,'258
f Vita) statistics 55000 7,104 5',229
Building permits 42,000 49,558 20,326
{ 1 Miscellaneous permits 11600 1,648 19345
I Loading zones 1$00 19125 2,201
Garbage permits 131M0 17,201 130739 r i
Easement 250 260 250
Excavation pormits 300 412 484
i Wine and beer permits
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1,686
and 11censes6 10682
' MOP)
MISCELLANEOUS
Parking meter receipts 20500 2,346 2,344
iI Electric inspections 4,000 5,067 5;340
Plumbing inspections 14,000 16,596 11,413
I County fire runs 2,800 I j,
Street cuts 48,Q00 52,268 56,872
Rents and concessions 40000 4,400 4,000
Staff@JFedaral' grants » 22,073
F Gasoline tar, refund 492 466
Miscellaneous income 32,000 41,968 33,O89
Sale of refuse bags 250000 27,903 25,672
Interest income 4,363 40363
Sale of general fixed
asset 23,107 23,107
County contribution -
Civil Defense 90000 6+89 81007
~ederal Contribution » ;
Civil Defense 18,000 16,902 15,887 ~ ~ `
County contdiwtion »
Emily aowlee Library 113,Otl0 99,565 85,633
Proceeds from bank loan 43,276 43,276
County contribution
363'12
Ambulance service
c:
22
/fi4Nf1
City of Denton, Texas
General Fund
~f STATEMENT OF BUDGETED AND ACTUAL REVENUES AND TRANSFERS
~i (CONTINUED)
Year ended September 30, 1978
y
Revised Actual
!4 i _ __budget Actual + prior Year
a TRANSFERS FROM OTHER FUNDS
1 Electric System Fund
H Administrative services $ 535,000 $ 396,180 $ 456,968
Return on net investment 1,012,823 1,012,823 856,168
Water and Sewer System Fund
' Administrative services 179,000 252,625 T62,323
Return on net investment 1809000 180,000
Revenue Sharing Fund 5450316 5450316 332,301
General Debt Service Fund 183 000 183.000
r
A636~13 568 96",
A $ 7,9181321 70982,748 $ 6,194,657
0
is
f
«a
,
44'
UM.
n
e
' 23
t
City of Denton, Texas
General Fund
J
E STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES
J
Year ended September 30, 1978 h
I
Expenditures
Expenditures an r
Revised and encumbrances
y aparopriations encumbrances prior year i
GENERAL GOVERNMENT i4 $ 141,806
Salaries and wages $ 197,4;38 196$414 10,067
Supplies 151512 12,p00 30,631
- Maintenance 22,785 230667 116,212
Services 176,336 162t303
13,410 80212 8}853
Sun
Capital outlay 19x400 18,866 j~3O4 809 Insurance 8 152 _.7
429,76040
LEGAL OEPARTMENT 108,977 104,643 82,320
`
Salaries and wages 69726 60296 71630
Supplies 1,225 10225
ntenance
Mai 274
Services 220059 22$680 172,,274
2,164 499 Sundry 40 4,969
capital outlay 41280 3060011 407
i
-insurance ,430 7% 7M
COMMUNITY OEVELOPMENT 274,992 254,682
Salaries and wages 274,686 71
Supplies 17,246 16 , 186,,171 ;
Maintenance 7,6QO 230600
Services 17,719 l8o061 Sundry 1,'80 960 721 1,530:
Capital outlay 703 3 5
Insurance 3.,409 3,1.32
322 323,291
CIVIL DEFENSE 25,934 29 270137
Salaries and wages 11829 90281 1,640
Supplies 3,232 30667 3$86
Maintenance 2,129 1,752 3016
Services 11
Sundry lO
6,217 4,211 1,516
Capital outlay 715 $67 833
Insurance i;"56 41, 66 3'~ C
i
C.
24
r
{
r~~,~~+f~g7j "y
f
ry~115',Y y
a City of Denton, Texas
General Fund
' STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES
i (CONTINUED)
Year ended September 30, 1978
Expenditures
Expenditures and
t • Revised and encumbrances
appropriations encumbrances prior year j
FINANCE ADMINISTRATION
Salaries and wages $ 56,583 $ 51,736 $ 61,476
T~ Supplies 660 446 631
Maintenance 125 149 106
Services 1,400 11641 1;791
Sundry 17 11 16
Capital outlay 205 102 156
Insurance 386 37 386
w a9,27s 2 6~
TAX DEPARTMENT
Salaries and wages 53,546 53,843 4.9 Supplies 9,465 7,734 5,564
J Maintenance 783 432
I A Services 10,928 9700 2',981
I Sundry, 17 11 16
Insurance 622, 334
Capital outlay 760 877 1l5
1T3T
DATA 'PROCESSING
Salaries and wages 108,076 110300 89,160
Supplies 4,360 5,247 5,3811
Maintenance 21,604 23,251 6$7
Services 889448 91,226 929126
Capital outlay 20,342 20,642 3,122
Insurance _
FMI 8ff Ird7 W no- 9
SANITATION - COLLECTION
3 Salaries and wages 3409775 3439121 309,°406,
Supplies 167,870 174,831 1580461.,
Maintenance 840500 1279761 97,46
Services 75477 76,653 65,743
Sundry 300 86 lO
Capital outlay 350248 34017 8046
Insurance 1 000 5
897 a32
719,M 763o 49
1165
ARM
fi 25
t1
F■pQry7 1TrX.5:'
V
City of Denton, Texas r '
General Fund
I STATEMENT OF APPROPRIATIO(IS AND EXPENDITURES AND ENCUMBRAPICFS
(CONTINUED)
Year ended September 30, 1978
Expenditures Expenditures
Revised and and
a ro nations .encumbrances encumbrances
_prior ear
SANITATION DISPOSAL
l Salaries and wages $ 54t844 $ 57,117
$6$ 45,033
3 I Maintenance 6,680 71190
32,086 4,324
I 102,437 106,888 50,842
Capital. outlay 31,564
tnsurance 640 193
85
-366' ~250
i POLICE
e I Sa Wi_es and wages, 1 078 740
I. Supplies 71,010' 1,083;865 942,'$29
j Maintenance 47,837 66,267 66;951
Services 80;439 69,702 48,,38
E Insurance 10,265 57,307
12 63,910 r^~'
►546 1;517
Sundry 19825 803
Capital outlay 28 100
1,519
23. 1928 2 930
1,314,418
4
RIGHT'-OF-WAY
Salaries and wages E,,
Supplies 13,105
Maintenance
services 438
Sundry 11234 f
insurance _ 179
24
69
pURCHAS I Na ""T5, 2T9"
Salaries and wages 35,7499
Supplies 3;53 36,163 34,948
Maintenance ` 600 3705 2)075
SerViees 51600
204
Sundry` 15 4,682 5,129
Insurance 11 24
Capital outlay
y 44, 904 3,~( j
I
E
:
twMe,~
4
City of Denton, Texas
General Fund
STATEMENT Or APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES
(CONTINUED)
Year ended September 30, 1978
Expenditures
Expenditures and
Revised and encumbrances
appropriations encumbrances _prior year
BILLING AND COLLECTING
X40 Salaries and wages $ 248,792 $ 248,072 $ 195,259.
Supplies 4$tUO 449165 43,735
Maintenance 6035 6,074 4,455
Services 12 606 9,424
9,807
Sundry X940 427 lSg
Capital outlay 1,000 932 409
f Insurance 1 1,292 1 569
510,386
I
ACCOUNTING
=Salaries and wages 429531 40,562 27,511
5upplles 3,275 3,163 2,066
M Ma{ntenance 100 58
Services 3,478 3,4bo 1,907
Capital outlay 877 875 100
Insurance
-W ST W
I; i $
,y PERSONNEL
Salaries and wager 36,454 380940 36,563
Supplies 3,230 31509 39950
Maintenance 185 198 .112
Services 7,717 6404 613&2
Insurance 27
Capital outlay 020
TRAFFIC CONTROL
Saiariee and Wages 65,844 64,056 53,606
i Supplies 41200 5,340 4;117
Maintenance 28,200 25,963 270861
Services 8,840 7,967 $,4$4
Capital outlay 1,150 995 1;$5tl
i Insurance _1,246 882 73
r i 109,480 1`0S;'T3
Aid
27
inry.:1
7P(i WOO R
City of Denton, Texas
General Fund
STATEMENT OF APPROPRIATIONS AND'EXPENOITURES AND ENCUMBRAvOE$
(CONTINUED)
r
Year ended September 30, 1978
Expenditures
{ Expenditures and
F Revised and encumbrances
appropriations encumbrances prior year
. FIRE
Salaries and wages $ 1,148,793 $ 1,154,227 $ 873,458 r
Supplies 33,170 34,177 201954
Maintenance 20481 26,878 21>091
Services 50411 45,836 34,830
Sundry 23 23 33
Capital outlay 80,729 74,087 110669
Insurance T 9 817 ~ c:
f STREET.AND'8RIOOE
Salaries and wages 324,950 314~n08 260,946
Supplies 280150 21,463 2l',994
I : Maintenance 336;590 396,802 288,214 i
I Services 233,900 212'1640 206;7341
r Sundry 500 35 4
E Capital outlay 101000 $5,914 1,867
I Insurance 9 000 17 43 13 288
~1 03a 0 i ;t1 79~ 3 i
40617
PARKS » ADMINISTRATION
► AND PARKS
Salaries and wages 222,396 250,953 184,816 j
Supplies 27,914 26,525 21,536 ;
Maintenance 27006 N0 108 24,667
Services 50,432 64,340 34,707
i Sundry 320 179 188
Capital 71385 7,177 13,487
Insurance C412 4 624 46931
93399964 J82"602 s
PARKS ~.SWIMMI`NA POOL
i 19
Salaries and wages 011160 ' 21,36, 0596
SOOles_ 2,445 2,180 30875
Maintenance 7,914 60116 2;907
Services 40760 3,664 2,713
Capital 'outlay 21723 7,806
Insurance 300 71 452 C
--3 2 736t701 29o943
f i
28
:ate N
d4aPOW
Sk "Al I#
« City of Denton, Texas
General Fund
!d z;
' STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES
(CONTINUEO)
~t*
r. Year ended September 30, 1978
i
is
Expenditures
Expenditures and
Revised and encumbrances
•
r,
r.aarouriaticns encum rances prio~ r year
PASalariesCandrwages $ 82,562 $ 75,019 $ 77,876
6,930 79340 209223
E • lies 31319 2;738
Maintenance 2,600 78+643
Services 70,900 70,207 19174
i Capital Outlay 990 605 "C 218
- 92
Insurance 6i-600
{ 157,418 '
€ 1
PARKS - ATHLETICS 34,931 "
Salaries and wages 34,691
757 995
Supplies 11'160 g5490 -
Maintenance
34,268 4$+866
'Services
I capital, outlay 1,150
Insurance ag--~-~
LABRARY
Salaries and wages 71$2,486 147;789 117,508
r to ,966- 7,709 90645
Supplies 2,710 2,704 764
Maintenance 36,209 270198
services 38,726 27,019 191034
00
Capital outlay 23'84
4 1,171 0
Insurance ~1 218;1 ,
,
!M
AIRPORT
supplies 155 209 72
2,173
Maintenance 1,960 4,425 J
109250 9$38 8,150 1
services 16 230 1
M Sundry 942
capital outlay 7+500 1,259 31+748
Insurance 1 158 .20 -
-219013
~ 29
r
k" Oval
Fra9u!City of Denton, texas
General Fund
STATEMENT OF APPRDPR[AYIONS AND EXPENDITURES AND ENCUMBRANCES
(CONTINUED)
Year ended September 30, 1978
Expenditures
Expenditures and
Revised and encumbrances
rior ear
a" ro riations encumbrances
NONDEPARTMENTAL
EXPENDITURES 57,064
City'6coustty health 57,500 $ 63,513 10,232
I j unit services $ 17,936
C06 unity agencies 15,750 _ 54330
1 State grants
aid debts and miscel- 4,500 22,326 47,461
laneous
Contribution to46,485
E tourist and visitors 56s430 53,997
center 210 500 210400
Flow Hospital 3 80
$ 79741081 $ 7079 MS $ 6,131,801
s '
r^ ~
1
i
,j
t 1 1
30 f ! ,
' •.r .ate-1v,..V A.IkY,fi nyfRr2Lxl N 4.
Y
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f
j w THIS PAGE LEFT BLANK INTENTIONALLY
I
}
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j
Y
' 31
.b1.NO
gar"?. .
' k
IFIh."Kwl it
*Milo
city of Denton, Texas
Special. Revfnue Funds
BALANCE SHEETS r
I September 30, 1978
I Total
ASSETS Memo
Cash $ 56,646
2,140
Equityr in pooled cash (Note C) 40,380
Due from other funds 129295 r,
Grants and entitlements receivable (Note A) -
$ 227,461
i.
,
LIABILITIES, RESERVES AND
FUND BALANCE
Accounts payable $ 164s619
Due to other funds 6 9
E ( Deferred revenue in 's 38
f Total liabilities
5>832
outstanding
Encumbrances 48,245
C
Fund balance
E 227,461
,i
in notes are an integral part of this statement. i I
The accompany 9
32
_~~CHI' :IS?.
> IT
r %WM
I „.AWW4
IT3WAM,
NVAU"AA
Federal Miscellaneous
Community Revenue special
Development
0 91oc Sharin Revenue unds
knt
$ 37,011 $ 18,635
$ 20140
15,538
842
10,000 1241295 _
$ 34,173
$ 12,140 $ 181,146
$ 10955
$ 117 $ 113
I 164,606
6 993
802
5,034
16064? 1603
i r $ 181,148 $ 34,173
12j140
~ 33 ;
,1jjy
i
WW
1
r 1
City of Denton, Texas
Special Revenue Funds `
l
STATEMENTS OF CHANGES IN FUND BALANCE
Year ended September 30, 1978
Communi ty r
i Development
{ Total BIoc rant
$ 67,091 $
{ Balance at October 1, 1977
Adu'tians 134762 134,762
!
State and Federal grants 16,638
contributionfrom municipal
uties 4,353 "
I Contribution from civic 11907
organizations ution 13,761
MCKenna Trugt distrib
°Library fines and memorials 09 "
I G Rental' fees -Civil Defense 1$
air lane 4,110
I Defensive driving course fees 620,914
Deffens c
Federal revenue distribution lA 842
11,6
Interest income i
25,468 25,468
Deductions 69
1,182
• ~ salaries and wages
l supplies
18,339 189290 I
Maintenance 16,356 4,130
iServices
Capital outlay 645,316
Transfer to General Fund $6,805
Grant transfer to Denton 86,805
Housing Authority "
Transfer to Airport Improvement 26,798
Grant Fund "
Adjustment to prior year (2,285) encumbrances 1,4
Civil Defense airplane expenses 3,418
18
6
r
Defensive drivi',g course expenses 7,500
Donation to Emily Fowler Foundation_
$ 48,?.45 $
Balance at September 30, 197,„,~„~
i
The accompanying notes are an integral part of this statement
34
w
Federal Miscellaneous
} Revenue Special
N
s
Sharma Revenue _Fund
$ 509747 $ 169344
_ 15,538.
4,353
_ 1,907
13,761
15509
» 4,110
620,914
14 842<
336,766 1 j178
11113
M
» 49
33 11,$93
545,315
N 26,795. » j
(2_286) 1o4I8
3,946
N
$ 16,642 $ 310603
35
Na
V
1OR!Yk
.irSN P,N
City of Denton, Texas
Special Revenue Funds
i
DETAIL OF MISCELLANEOUS SPECIAL REVENUE FUNDS BALANCE
Year ended September 30, 1978
+
Lions Club Park Project $ 4071
McKenna Park Fund 9,350 i
Emily Fowler Library Fund 708
Clyde Wright Memorial Fund 5
Civil Defense Airplane Fund -352 E
Defensive Driving Course Fund 826 n ,
NTSU Student Recreation Fund 125
Denton Tennis Fund 10
Denton Garden Council Fund 10
!
i Denton insurance Agents Crime Fund 45
Bicentennial Organization Fund 1,407
senior'Citixens Activity Fund 8 r
R,E.D.°Board Fund 15,538
} Hi-Noon Lions Club Fund 29812
+ $ 31,603 `
t
E
, f
f
+
1
.
36
Y A0 E
City of Denton, Texas
'f Federal Reyenue Sharjng Fund
f STATEMENT OF REVENUES AND TRANSFERS,
1J EXPENDITURES AND ENCUMBRANCES
'A For Year Ended September 30, 1978
Budget
1978 t al
REVENUES
Federal revenue distribution $ 520,914 $ 520,914
interest income - 14 8 2 i
A, 520, r4
EXPENDITURES,
{ Capital outlay - 33
Transfer to General Fund 5450315 545,315
Transfer to Airport Improvement
Grant Fund 26;798
Adjustment - Prior Year
ncumbrance - 2 85)
6
1861
EXCESS (DEFICIT) OF
REVENUES AND TRANSFERS
I OVER EXPENDITURES AND
ENCUMBRANCES $ 241401) $ 34 105)
z;
37
YM1`+Ptc
of Denton, Texas 1
City
General Debt Service Fund
BALANCE SHEET r
j September 30, 1979 and 1977
} ASSETS
1978 1_--
$ 166,601
$ 3_Z09 1,016
Cash
1 Time"deposits and accrued interest
f $ 32,469 $ 1679517
I
LIABILITY AND FUND BALANCE +
E 27,541 $
Due to General Fund 167 517
__4
Fund Balance 32404 $ 167,517
$ ,
s
CIS
)
i l
i
The accompanying notes are an integral part of this statement. t
38
city of Denton, Texas
General Debt Service Fund
STATEMENT OF REVENUES, EXPENDITURES,
i TRANSFERS AND FUND BALANCE
# Years ended September 30, 1978 and 1917
1
( 1978 1977
n
Revenues, 1,257,432 $ 851
Budgeted portion of taxes collected $ 21,126 25,911
210
Intavost earned on investments 25 200
Transi'er from revenue sharing 1,278,55 95- Z
A
Expenditures 3,342
Sankk note principal payments
Bonds retired 655400 561,000
,411
st pa 503
Interest, paid 5990088 177 691
paying agent fees ,2 o 0 0~ 6,y
i, ++I
i.
Transfer of prior year's accumulated
11 interest itiuome and tax collections .
0 in excess of requirements to General 1839400
Fund
E EXCESS (1DEFICIT) OF
REVENUES OVER
f ~ ~EXfENDITURES
AFTER TRANSFER (1626649) (112,921)
67 617 2B. 438 ;
Fund balance at beginning of year
Fund balance at end of year 49868 $ 161,517
' I $
N
QI
N ,
The accompanying notes are an integral part of this statement.
w 39
(1`.n1:1Ji $iY ~
j City of Denton, Texas
Capital Protects Funds
BALANCE SHEETS G
E
j September 30, 1978
Parks and Airport
Total Recreation Improvement
ASSETS Memo Bond Fund Grant Fund
Cash $ 403,831 $ ,102,041 $
Time deposits and accrued interest 101641018 37,010 .
Due from other funds 621023) 98,491 260798
.
Grant reimbursements receivable 270,097 119,012
Street assessments receivable, less
allowance for uncollectible l23 97 -
r,. accounts of $92,531
o C
145Y870
i
42 $
37+5
,
2
i 5 1 >
2+ 73,15(
1
LIABILITIES,' RESERVES
AND FUND BALANCE
Deficit position in pooled cash (Note C) $ 139,792 $ $ 139 ,792
Accounts Payable 261,5$5 1120168 4,778
Due to other funds 629 2 2 562 .
Total liabilities , 1,13 Tf~' 01 Enctnbrances outstanding 347,466 121,777 1,300
Fund balance 1,194+525 1?035
-
$ 2,573,150 5 237,542 $ 145,870 C;
C
C
The accompanying notes are an integral part of this statement,
I 40
1 1 WNW]
M 11✓,!ik
i,
Construction Williams
Parks and.Street Community NTSU Street Square
It's Development Improvement Development Special Assessment Improvement
Grant Fund Bond Fund Grant Fund Projects Fund Fund Fand
$ 61080 $ 81,698 $ 30,439 $ 26,281
637,972 - - $ 25,191 $ 77,001
462_07} - - 279,036 _
A 151,025 33,871 _
f I ~ "
~ - 123973 I
$ 212,205 $ 11381,741 $ 30,439 $ 26,281 $ 4629071 $ 77,001
I /
i.
I
M
$ 271158 $ 86,895 $ 3,301 $ 30,981 $ ; 16,284
123 220 17 087 24 842 - 462 71
50, s3,s82 `43 30, i' 1 160M 'To 3,041 186,154, 2,296
" 32,918
58,786 1,111,605 - 4 700 27,799
- 7,799
$ 212,205 # 1,381,741 $ 30,439 $ 26,281
$ 462,(?71 $ 77,001
M
M
41
-40 F
14
City of Denton, Texas
Capital Projects Funds ~
STATtMENTS OF CHANGES IN FUND BALANCE
Year ended September 30, 1978
Parks and Airport
Total Recreation Improvement
Memo Bond Fund Grant Fund
Balance at October 11 1977 $ 2,504,597 $ 773,770 $ -
Additions
Proceeds from Certificates of Obligation 125,049 30,b04
Interest and miscellaneous 120 57 26,798
~w 1 Transfer from Revenue Sharing Fund 26,798
Transfer from Street Assessment Fund 190138 - 736,875
Grant revenue 887 926
0,0 l 30,600 763,673
-
Deductions
Streets, curbs' and gutters 452,260 ;
Purchase of land and right-of-way 3744981 - 275,636
Building, land improvements and
equippmment 105960292 3039335 4889037
f Misco114neous expenses 14,842
Transfer to Street improvement Bond Fund 19,738 - `
I Transfer to Denton Housing Authority 3
2"490 Ll 13.
Balance at September 30, 1978 $ 1,194,525 $ 10035 $ q$~
f
w
f ,
The accompanying notes are an integral part of this statement.
I
42
-A Ail
f.0.VY htf
P
4
Construction Williams
Parks and Street Conenunity NTSU Street Square
Oevel4pment improvement Development Special Assessment Improvement
Grant Fund Bond -Fund Block Grant Pro,iects Fund Fund Fund
kM
$ 160,666 $ 1,518,148 $ - $ 52,013 $ - $
i - _ 125,000 1
l `1 67099 - 2>512 19 738 -630
11 19,738
101,879. - 49-172
101,879 86,837 494 2,512 19,736 i2 ,~30
452,260 59,225
40,120 '
243,759 10000 29330 97.831
r
14,842 "
IA' - 19,738
320
1 E2 00r
Z03,759 _AU .L3 s 59,' ,
58,786 $ 101110606 $ $ ( 4,700) $ $ 27,799
!1
•
•
r
43
,3
KSSk@< :
City of Denton, Texas
Electric System Fund
BALANCE SHEET
September 30, 1978 and 1977
i
i
ASSETS _ 1978 1977
Current 'Assets
Operating Fund -
Equity in pooled cash (Note C) $ 11428,342 $
l Time deposits and 'accrued interest 5,047,226
Accounts receivable (less allowance
,
of $435,852 -1978;$321,872 - 1977
for uncollectible accounts) (Note A) 3,897,623 3,341,985
Due from other funds 13,349 79,307
Inventory of fuel (Note A) 973,485 11140485
Prepaid expenses 47,379 37,856
Deferred cost on Lone Star Gas
retroactive rate adjustment (Note F) - 478,821
Rebate recelvable from Lone Star Gas 308 516
(Note F) _
11, 07,404 5 C
RESTRICTED ASSETS -
Pledged Revenue Fund cash (Note. D) 430175
Revenue Bond Debt Service Fund (Note 0)
Cash 2,232,251
Time deposits and accrued interest - 24,216 r
Due from Electrio Operating Fund 310,734
Ritirefnent Fund (Note D)
I U. S. Treasury obligations and
accrued interest at cost 435,198
Revenue Bond Construction Fund
Cash' 810809 236,82$ r i
Time deposits and accrued interest 2110621 92,231
Revenue Bond Bond deserve and Contingency Funds(Note 0)
`
_ 194,487
Time deposits and accrued interest 19923,835
U, S. Treasury obligations and
accrued interest - at cost 295731493 +
System extension and improvement
Equity in pooled cash (Notes C and 0) - 4 615 177
-31345o296 8,6~ E ,59
UTILITY PLANT IN SERVICE (Note A)
Land and land rights 29i,329 291,329 t
Electric plant production and distribution
facilities (less accumulated depreciation
and amortization of $19,044,539 - 1978;
$17,667470 - 1977) 2553830855 25,756,730
Construction in process 821 78.8 1 279 457
7 7,3 7 o 56 t:
4969
26,
INVESTMENT IN INTRAGOVERNMENTAL SERVICE
FUNDS - AT COST 1 7 180,747
$ 411430,419 $ A1,5251132
j The accompanying notes are an integral part of this statement,
44
r
#WV`lK4~ ~
Y
i'
LIABILITIES AND SYSTEM EQUITY 1978 1977
f;
CURRENT LIABILITIES (payable from Operating
Fund)
• Deficit position in pooled cash (Note C) $ $ 3,617,043
Accounts payable 1,538,599 1,227,438
r' Accrued payroll and vacation pay 125,807 106,321
Due to restricted and other funds 257,967 401,768
kf Customers' deposits 232,489 197,212
{s Accrued Lone Star Gas payment "
A retroactive rate adjustment (Note F) - 478,821
Rebate payable to customers (Note F)
2,1 9, 2 6,23 , O
E
E
LIABILITIES PAYABLE FROM RESTRICTED ASSETS
Re Venus Sond.Debt,Service Funtl
! Revenue bonds payable Within one year ~ 1,044-,000
Accrued.interest 604,443 341:835
Revenue Bond Construction Fund
I Accounts payable $2,912 .79,566
Due to other funds 5 4 5 43.060
692S850 116085461
I
I~ LONGrTERM DEBT (Note 0)
i Revenue bonds payable - exclusive of
aiaturities due within one year 19,255,000 16,902,000
E Bond discount Series 1978 3 0,1997)
14,803 160§02000
` c
M SYSTEM EQUITY
Reserves
For revenue bond contingencies 2,573093 2,1189322
For system extension and improvement 41616s177
Unrealized increment in valuation of
utility plant in service (Note A) 1,736,750 2,019,909
» Contributions in aid of construction 163,983 161,203
Retained earnings 151202878 7.9661780
1$,fib ,904 16o880,391
COMMITMENTS AND CONTfNGENCIFS (Note E)
$ 41,430,419 $ 41,525,132
x
45
{
aka. ni»r
~4 p City of Denton, Texas
Electric System Fund
STATEMENT OF OPERATIONS
Years ended September 30, 1978 and 1977
1978 1977
Income r
Electricity sales (Notes A and D)
Customers $ 17,757,409 $ 16,202,663
Intragovernmental 807,847 758,595
Resale power income 45,465 660,665
Other 32 753, 86,450
643
18,
, 4 DoMo273
Il Expenses
I Salaries and wages 1►14,99816 1,067,607
1 Fuel 8,094,832 9,263,223
Purchased.power 3,084,503 1,116,850
Supplies 143,050 92,934' .
Maintenance 2179301 186,;20¢
Insurance 156;586 128,294 i
Administrative services 3950180 456,968 ~
Services 215,700 232010
Bad debts 128,694 120►12o
} Sundry 7 367 4.144
.1 6 E
1 .to 12 12 673 3
Operating income before
f 3 depreciation 5,0501345 5,034,957' ~
t; r f ;
Dapreclation (Note A) (1,094 211 (J.050
603
Operating income 3,956,134 30984,354
znt'erast income 311 271 234,703
X73 465 4,219,067
I
Bond interu t and fees (11073,7 ( 825,581
i
Net incomio.before transfer
and extraordinary income 3,1991641 3,393,476
Discretionary transfer of excess
revenue to General Fund Note 8
{ ) {_1,:'Q12~823} g5 168..... C. i
Net income before extra-
0 rdiiiary,ncome 2,185,824 216380308
Extraordinary income- gain on
advance refunding (Note 0) 890,268
NET INCOME $ 3,077,092 $ 20538,308
The accompanying notes are an integral part of this statement.
46
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Fri
Y
i3City of Denton, Texas
Electric System Fund
STATEMENT OF CHANGES IN SYSTEM EQUITY
Years ended September 309 1978 and 1977
Reserves
Revenue I ns on
bond contin envies and Lm rovement
•7
197 19771978 19 -
Balanceaat beginning
$ 2,11$,32? $ 1,968,789 $ 4,615,177 $ 20885,447
Additions
` TroperatS from
operating Fund (Note D) 2,573,493 149,533 10288,628 21213,534
li
Contributions by
customers - -
Net fil~ome
Transfer from
reserve for r,
extension and
improvement for
j additions to Y
utility plant
in service (Note D) r-.
Transfers from restricted «
assets'as result of {
refunding bonds
(Note 0)
~ '2;57~';d33 4 ,533 1►28 ►6 8 2,x,5 4 1
Deductions r`
ransfer to retained
T earnings as result of
refundf,ng bonds
(Note 0) 2,118,322 - 6,517538
Reduction equal to r.>
extension and
improvements made '
during the year
from current
revenues (trans-
fer ,to•retained 386,267 483,804 c'
earnings) -
Amortization of
unrealized incre-
ment (Note A) - `
Transfer'to reserve
for extension and
1mpr6YemeYit -
Transfer to reserve I~I
for revenue bond E
contingenc'.as - f
l l s 2 5. 3~..~4.. 1
Halance at end of year 3 M Z3 49 $ 118 322
The accompanying notes are an integral part of this statement,
48
i
(p,i?GVidi t{~{} 9Npq
tltl11t0$1
3 •
Contributions
Unrealized increment in aid
1 in valu tion of construction Retained earnin s
=978 1077 1978 977 079 1977
$ 2,0190909 $ 20303,069 161,203 $ 124,944 $ 7,965,780 $ 7,306,735
i _ 8,580 36,259 -
39077,092 21538,308
E
l
4 _ - 386,267 483,804
1` - V
- 7,635,860 I
- 8,580 36,20 11,099,219 36 2 ,11.2
i
l
-
283,259 283,160
e 19288,628 2;213,534
....y _
3 160 - - 2,678 493 14 533
$1'd._
$ ,Oi9
09 $ 169,7 3_ $ 161,$ i ,202 818 $ 7,565,7 0
49
Jr
City of Denton, Texas
Electric System Fund
STATEMENT OF CHANGES IN FINANCIAL POSITION
Years ended September 30, 1978 and 1977
1978 1977
Sources of working capital r
From operations
Net income before
extraordinary item $ 2,186,824 $ 2,538,308
Charge not requiring
working capital
Depreciation 190945211 :19050,603
Working capitalprovided
from operations before
extraordinary item 35281,035 35588,911.
Working capital provided 25B
r ; from extraordinary stern 890s268
C
1
Working capital provided
from operations 4,171,303 30588,911
k
1 Repayment of investment in Motor
Pool,Fund 124,549 r
Contributions from customers and
developers 81680 369259
Net increase in long-term debt due
to 'refunding of 'bonds (Note D) 2,002,802
i
I Decrease in restricted assets net
of liabilities payable from#
restricted assets 4 468 852 ,
9
1037 3,7149 71
Applications of working capital
Additions to utility plant in service 546,785 924,683
Reduction of tong-term debt 1,044,000 c
Increase in restricted assets net of ~
liabilities payable from restricted
assets 1 521 2o0
" ~
646*785 1
INCREASE IN WORKING: CAPITAL 10,104,752 259,836 t.'
Working capital (deficit) at beginning of year 8479210) 1 107 046)
Working capital (deficit) at end of year $ 9,2579542 $ (847,210)
er... C
1
50
'~sl ggffrrlHH\vKa
f: City of Denton, Texas
r Electric System Fund
STATEMENT OF CHANGES IN FINANCIAL POSITION (CONTINUED)
Years ended September 30, 1.978 and 1977
;v
1978 1977
• Changes in components of working
,i capital
Increase (decrease) in current
assets
Equity in pooled cash ,
and investments $ 6,476,668 $ -
f _ Accounts receivable $559638 8789670
Inventory of fuel (167,100) 784;351
:
Prepaid expenses 90523 24,138
! Due from other funds (66,958) 41,208
Deferred cost on Lone Star
Gas retroactive rate ad-
r justment and deficiency
payment (478,821) (756,241)
Rebate receivable from Lone
Star Gas (3.08,516) 308 516
, 20,334 1,281,642
A
(Increase) decrease in current
liabilities
Deficit position in pooled
cash (1,171,592)
` Accounts payable 3,617,043
,;e (306,161) 7,006..
Accrued payroll and vacation
- (19x486) (700660)
Due to restricted and other
funds 143,801 (308,428
Customers' deposits (369217) (27,806
Rebate payable to customers 205x617 (205,677
Accrued Lone Star Gas payments ~47~ (1 765 41)
INCREASE IN WORKING CAPITAL $ 10,104,752 $ 2699836
w
M
The accompanying notes are an integral part of this statement.
w
51
10
rfiyyp7jlaotwi7
City of Denton, Texas
Electric System Fund
STATEMENT OF BUDGETED AND ACTUAL REVENUE
Year ended September 301 1978
Actual
Revised
budget Actual prior year.
customer sales-
residential $ 6,993,0 00 $ 6,5759245 $ 5,660,433
i
°t Customer sales- '
11,556,000 10,978,635 10,363,040
Penaltiesial 1709000 169,562 147,258 cw.
! Dusk,.to-dawn rental
i fees 33,700 33,967 31,932
lntragovernmental sales 619,600 6240000 584,584
E Street and highway 197000 183,847 1740011
r~ f ligghting 45,465 660$65
Resale power income 27,¢00 '
collection on charged
off accounts 110,000 1,002 5,199
Reconnection fees 1,000 844 1,352
Miscellaneous 11,878 250497 76,991
House moves 3,000 3,617 2,908
Aid in construction 4,000 8,580
Sale of scrap material 2 000 1 3 - ;
5_72 T"t 08s273
81178 18
Interest 200,000 3 7 2 2
$ 19,928078 18,9699325 17,942,976
Adjustment to
commercial basis 317,271 (2349703)
Interest revenue 8 58O - I
Aid in construction
r!
$ 18,643,474 S 17,708,273 j
li
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52
'A I
.
City of Denton, Texas
Electric System Fund
STATEMENT OF APPROPRIATIONS AND E;IPENDITURES,
j
i ENCUMBRANCES AND TRANSFERS
Year ended September 30, 1978
N
,r
Expenditures
• Expenditures, and
Revised encumbrances encumbrances
appropriations and transfers prior Year
ELECTRIC PRODUCTION
0 Salaries and wages $ 577,212 $ 5560826 $ 606,913
Supplies 146041 117,735 129,530
Maintenance.' 1210789 96,675 86007
Fuel/Purchased power 11,631,621 11,179,335 11414,923
i Services 34,304 20,177 221807
1 Insurance 141,804 1359117 109,791
II *
Sundry - 37
Capital outlay 29r594 8,482 1l 215
12,6821'395 12,113,347 T1,~S1~,M
ELECTRIC DISTRIBUTION
AND KTERING
40 Salaries and
wages 630,949 6200709 6427954
Supplies 81497 310149 32,073
Maintenance 103,850 117,319 127+961
Services 32,150 28,184 33014
I Insurance 21,997 20,455 170746
r Sundry 31000 - 2,613 107
Capital outlay 3 4 318.171 299 890
1,111,0Z 1,1461600 45
PRO RATA SNARE OF
UTILITY ADMINISTRA-
TION EXPENSE
Salaries and
wages 138,207 1280702 111,798
Supplies 6,869 60980 3,425
Maintenance 3,515 4,307 2,711
Services 212,781 1790959 193►038
Sundry 19080 11327 3,036
insurance 762 11114 757
capital outlay 1,750 1,631 1,457
364,964 324,020 --M,222
ew
r r
53
.
y
cx.` -,tip
1,
YiJ7pk3
NJkcIRW;y I
'AW
City of Oenton, Texas
Electric System Fund
STATEMENT OF APPROPRIATIOI4S AND EXPENDITURES,
ENCUMBRANCES AND TRANSFERS (CONTINUED)
Year ended September 30, 1978
Expenditures
i
i Expenditures, and
Revised encumbrances encumbrances
aporouriations and transfers prior year
NONDEPARTMENTAL '
EXPENDITURES
Interest and
l redemption $ 1 $ 1,867,227
requirements $ 11492,115 ,492,114
Transfers to
General Fund r
Administra-
tive 536,000 395,180 4569968 +
i I services
j I Return on net
i I investment - 1,012,823 190120823 8550148
Bad debt expense 93,800 1280694 1200120
_ 37-M ' 3;427 10,965 r ,
Sundry 8 3Ta 8
_T 70T
j 5 17,318,941 $ 169616,205 $ 16,652,438
ADJUSTMENTS TO 4
GOMMEBCIAL BASIS
Ehcunbranc~s -
„ prior year 158,486 12$,86b l .
Transfers to
bond-paying
agents (1,492,114) ' (1,867,227)!
capitalized
689,081) (19287,880)
expenditures
TrOnsfer to
General Fund -
return on net N
investment (1,012,823) (865068)
Encumbrances (158,486)
current year
vacation pay
t E
accrual 12,456 60,773
131593,129 $ 121673,316
1
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IWFt l1
City of Denton, Texas
r7 Water and Sewer System Fund
j BALANCE SHEET
September 30, 1978 and 197,7 r
ASSETS 1978 1977
- j
j CURRE14T ASSETS
Operating Fund ~
Miscellaneous accounts receivable $ 4,856 $ 5,807
Due from restricted and other funds 457,350 166,433
Prepaid expenses and deposits 4 827 4 226
467 ft 176,466
f RESTRICTED ASSETS
Revenue Bond Debt Service Fund (Note 0)
Cash 167,525 509509
Time deposits and accrued interest 580393 -
F Due from W^.ter and Sewer System' -
i Operating Fund 163,325
' Revenue Bond Construction Fund
cash 250,246 $78,189
Time deposits and accrued
11 interest 255,143 42,540
I Revenue Bond Reserve Fund (Note D)
Cash 159209 1860929
I Time deposits and accrued
interest 536*381 11330"659
1*2820897
r
UTILITY PLANT, IN SERVICE (Note A)
Land and:iand rights 373,527 223,896 ~f .
Water ufility plant (less accumulated
depreciation of $4,02,209 - 1978;
$4,499,372 - 1977) 8054,641 8,2189201
Sewer utility plant (less accumulated
depreciation of $3034,561 1978;
$3,715,166 - 1977) 204719453 2,607,936-
Water rights (less accumulated depre-
elation of $125,032 - 1978;
$120,031 • 1977) 1259032 130033 -
496 293
Construction in process 689,460
1`1,714'103 11,6 Eo',369
I c.
I INVESTMENT IN ItITRAGOVEANMENTAL SERVICE
I FUNDS - AT COST 10809x5 10Y..,975
$ 13,573408 $ 130312,951
I ,
The accompanying notes are an integral part of this statement.
C:
i 56
, neien.yu /!(•v;; R;i+, /ASSS":s1:IdE:~:+v}JRdgM. s ,r..
'Nppgr} 4 i.` ~
vrorclaA ~ ,
IV
l.,
LIABILITIES AND SYSTEM EQUITY 1978
1977
.3 CURRENT, LIABILITIES (payable from
I` A Operating Fund)
Deficit position in pooled cash
(Note C) $ 6271108 $ 721,021
Accounts payable 11,296 7,110
Accrued payroll and vacation pay 550825 499208
Revenue bonds payable within one
1
A year 2020908 209,045
Due to restricted and other funds 49,537, 196 057
946,674 1,18$,441
LIABILITIES PAYABLE FROM RESTRICTED
ASSETS
Revenue Bond Debt Service Fund
Revenue bonds payable within one
1 year 162 092 145,955
Accrued interest 63,826 67,878
Revenue Bond Construction Fund
Accounts payable 10579 20,371
A Due to other ;rater and Sewer ,
System Funds 241 323 120.245
20 3540449
LONG-TERM DEBT (Note 0}
` 00 Revenue bands payable - exclusive
of maturities due, within one year 50855000, 6,2301000
SYSTEM iQ(1I7Y
Reserve for revenue bond contingocies 561,590 $169588
A Contributions from municipal or other
government units 2,848,481 217519412
Contributions in aid of construction 2,427,403 2;284427
Retained earnings (accumulated deficit) 46§0040 (19,866)
1 5o540,061
COMMITMENTS AND CONTINGENCIES (Note C)
13,573,008 $ 13,3120951
M
57
AWN,, . y
Sv k:-SlnK~
lift o `
' City of Denton, Texas
Water and Sewer System Fund
STATEMENT OF OPERATIONS
Years ended September 30, 1978 and 1977
{
i
1978 1977
Income (Notes A and D) i
Water sales
+ Customers $ 2,206,051 $ 10614,167
Intragovernmental 851577 66,706
Sewer service charges 1,183,759 8170747
Other 29867 6061 r
} lo478o264
z ; off, T
Expenses
Salaries and wages 724,472 6490331
519 136,638
I Maintenance 260;161 254,995
Power 419,450 5411249
Administrative services 2520625 152, 23
Services 140942 114,321
Insurance 18,819 15,916
Bad debt and sundry expenses 23342 39'131
10978o870
f J Operating income before
depreciation 1,4999384 801,077
Depreciation (Note A) (.557,236) 546x301
Operating' income 9420148 254,776
Interest income 73,124 67 804
,380
Done interest and fees 3220364 316 635 Net income before transfer 692008 5,945
Discretionary transfer of excess
revenums"to General Fund (Note 8) C1809000)
NET INCOME $ 5120908 $ 5045 C
...dom.
rV `
1
The accompanying notes are an integral part of this statement,
E
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59
City of Denton, Texas
Water and Sewer System Fund
STATEMENT Of CHANGES IN SYSTEM EQUITY
r
j Years ended September 30, 1978 and 1977
i
Reserve for revenue r
bond contingencies
1 1978 -1977
r !I Balance at beginning of year $ 516,588 $ 480,018
Additions
111 Transfers from Operating Fund 359002 36,570
i Contributions by developers and
r - others for water and sewer f
system improvements _
Contributions by customers for water
and sewer taps and extensions
Federal grant receipts
Net income
f 0 lT,570
3 r
. Oeductions
E f Transfers to reserve for revenue
bond contingencies
Balance at end of year $ 5510590 $ 516,588
~t s
I If
i
I
4E ,
t.
The accompanying notes are an integral part of this statement,
~
60
i
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1
_,Contributions
vy 0 Munic pa and other
ov nmentel urn is ~In aid of constr otian Retained earns s
1978_ 011 1978 1~ 7 1978 1977
2o7511412 20647o422 $ 2,284,927 $ 2,185,954 $ (12;866) $ 17,759
Il y
y~ - 54,292 - '
- 88,184 98,973 -
97,069 103,990 - 512,908 45
01,06163,996 -7M o~M 98,973 1 , 559
- - r
,
36,002
- 3
35oOO2
r) 21848,481 $ 2,751,412 $ 21427,403 $ 2,284,927 $ 465,040 $ (121866)
f
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61
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1x1(Yy~lt
Vc N611
'W AA
City o{ Denton, Texas
iter an6 Sewer System Fund
STATEMENT OF CHANGES IN FINANCIAL POSITION
Years ended Soptember 30, 1978 and 19;'7 r
1978 1977
Sources of 'working capital r
From operations
Net income $ 512,908 $ 5,946
Charge not requiring
working capital
Depreciation 657,236 646,301
Working capital provided
from operations 1,070,144 652,246
Contributions from custorriers
and developers 142,476 98,973
Federal grant receipts 97,069 103,990
4 Decrease in restricted assets
net of liabili1:149 payable
` from restricted assets 1820626
Issuance of revenue bonds 600,000
Repayment of investment in
r
Motor Pool Fund 134,701
f Applications of working capital
( Additions to utility plant
1 in service 594,980 500,227
Reduction of long-term debt 365,000 365,000
Increase in restricted assets
net of liabilities payable
from restricted assets 4039638
aH i
INCREASE IN WORKING CAPITAL 632,334 131,135
Working capital (deficit) at beginning ;
of year 0 1 76) L X14.35110)
Working capital (deficit) at end of year $ (479,641) $ (19011,975) '
Noma
C"
I
I
62
ON i
- r.
City of Denton, Texas
Water and Sewer System Fund
STATEMENT OF CHANGES IN FINANCIAL POSITION (CONTINUED)
® Years ended September 30, 1978 and 1977
n
c
1978 1977
3i
Changes in components of working
capital'
Increase (decrease) in current
assets $ (4,69Ay
fj Accounts receivable $ (951)
Due from restricted and
other funds 290417 143,813
• Prepaid expenses 601 i 193
-0
14", 12
(Increase) decrease in current
YYY liabilities
k Deficit position in pooled 99.913 189,926
cash I •
counts payable (4,186) 11593
Accrued payroll and vacation
(61617) (26,056) I
Revenue bonds payable within
A one year 60137 (16,444
I
6 52 168 196
Due to other funds 14615
~
1
INCREASE IN WORKING CAPITAL $ 532,334 $ 131,135
k
Lj 0
N
I
1
I
A
The accompanying notes are an integral part of this statement,
•
63
1
City of Denton, Texas
Water and Sewer System Fund '
STATEMENT OF BUDGETED AND ACTUAL REVENUE
Year ended September 30, 1978
Actual
Revised prior
_
budget Actualyear
WATER
Customer sales -
residential $ 1,200,000 $ 1,2300076 $ 931,982
Customer sales - r,
commercial 909,000 907,$35 6341582
Penalties 60,000 68,640 47,604
Intragovernmental 48,000 70,798 56,617
Tapping fees water 40,000 68,871 48,460
Sale of scrap material 1,000 11691 788
Miscellaneous income 11000 - 10176 51672
Interest - 13,124 67,804
Water for resale 170000 14,779 10,089
Aid in construction Q4 00.90 23,661
2-s-2761$000 2,439s580 "'1~7,~M'
i
SEWER
Customer Sales
l residential 666,000 572,086 426,036
Customer sales -
commercial 6221,000 6800593 354456
Tapping fees sewer 150000 19,313 12,802
Sewer extensions 21000 10414 14,150 cal'
Intragovernmental 80000 2,333 822 I
Sewer fees - other cities 14,000 14,196 99882
Sewer fees . industrial water 23 000 14,662 27,461
666
84416
L340 ' 000
$ 39616,000 3,6440066 2,671,758
Adjustments to commercial
basis
Contributions in 'aid of
construction 92,6ba) 98,973
Interest revenue 3 12 67 8 4
$ 3,478,264 $ 21504,981
E ,
4
64
r
•
City of Renton, Texas
Water and Sewer System Fund
STATEMENT OF APPROPRIATIONS
ENCUMBRANCES AND TRANSFERS
Year ended September 30, 1978
'i
Expenditures
a Expenditures, and
Revised encumbrances encumbrances
aaproprIations and ~ rimers prior year
WATER PRODUCTION
1 Salaries and wages $ 188,107 $ 179,208
Supplies 96,842 92>158 $ 193,6048
Maint a
en
nce
18,442
19>I04
Services Production power 224,000 252,555 204,368
capital ees s 63,485 66,880 51,949
C outlay 11,459 10,435
0 Insurance 9 944 9442 17270
WATER DISTRIBUTION
AND METERING
Salaries and
wagges 243,140 220,642
Suppl;ies_ 20, .203,b99
Maintenance 20,303 17049 12,042
f 139468 128,849 1260098 ?
Services
Sundry 28'242 27,672 22,472
243 668
Capital outlay 114,900 136 143 73,167
0 Insurance 5,138 2456 91
5, 3-9
3, f;9
SEWAGE TREATMENT AND
DISPOSAL
Salaries and
' 0 wages 2089742 193,987 177,851
Supplies 35,172 32,121 36,379
Maintenance 371296 36,946 440211
Production power 1674274 1650895 136,891
Services 13,380 129643
Capital ou~tay 13,978 11,868 4,576
,396
i Insurance 2 B 7 20610 82 242
476,668 6,
,
A
4
65
Ak
P7
4Y4 y.1• In 4 yr
City of Denton, Texas
water and Sewer System Fund
APPANCESROPRANDIATIONS r
Year ended September 305 1978
Expenditures
j Expenditures, and
Revised encumbrances encumbrances
aaoroQ~ rim 5 and transfers pri o-
{
SEWAGE COLL50TION $ 204,608 $ 176,949 $ 1800824
Salaries and wages 13,189 10, 67 12,776
f Supplies 82,250 75$ 37 60,933
Maintenance 25,100 12,56p 11,991
Services 4,600 3,621 27,250
1 Sundry 58,950 48,895
Capital outlay 19 4 2 964 r
1 insurance 394,342 -3309793 02, 8
r' PRO RATA SHARE OF
UTILITY ADifINISTRA-
E T14N,EXPENDITURES r
Salaries and 60x676 560815 401984
E Supplies lt210 1125 567
Maintenance 60,710 44,874 46,868
Services
Sundry 603 x497 x$48 r.
Insurance 741
_ STIR
Capital 700
NONDEPARTMENTAL
{
EXPENOITURES
Transfers to
General, Fund
Administrative 179,346 252,624 152,323
services
Return on net 180,404 1809000
investment
Interest and
redemption re-
quirement and 680,817 678,Fi36 6380456
sundry 1 17 185 19 064 39,131.
Bad debt expense 19 E29,910
$ 3,221,463 $ 30184,665 $2617,725
1
r 4
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66 _i
,
r
City of Denton, Texas
Water and Sewer System Fund
a' STATEMENT OF APPROPRIATIONS AND EXPENDITURES,
ENCUMBRANCES AND TRANSFERS ( CONTINUED)
I'
:k4 Year ended September 30, 1978
d
• Expenditures
Expenditures, and
encumbrances encumbrances
and transfers prior Year
' r
ADJUSTMENTS TO
COMMERCIAL BASIS
} Encumbrances
t` Oebtior year $ 2,860 $ 20,003
service
requirements (678,536) -(638,456)
„ Capitalized
{ I~ expenditures (366,174) (311,086)
Trans Per to
' General Fund -
return on net `
E investment (1809000)
Encumbrances -
current year (20860) ;
i' Vacation pay
accrual 6,165 1 I
I
EXPENSES $ 1,978,870 $ 11103,904 f
lie
e
67
p hi•1.i 4'.. 11~3i3
3t. City of Denton, Texas
Intragovernmental Service Funds
i
BALANCE SHEETS
September 30, 1978
j
k
Total Working Motor
j ASSETS 1Memo Capital pool r
CURRENT ASSETS
I Equity in pooled cash
(Note C) $ 292,818 $ 292,818
Time deposits and
accrued interest 2 o Wl r262 27,501 r
Accounts receivable 252 _ '
Inventories (Note A) 478,443 478,443
1 I Due from other funds 160098 141,051 9,947
Prepaid insurance 670 570.
Total current assets 960,582 620016 330,266 r
EQUIPMENT (Note A) 2,792,467 639797 2,7280670
Less accumulated
depreciation 1 344 2,91.~ 7 6V ; 31 335 C
3713 ,409,335
_1448
$ 2,398,962 $ 669,351 $ 1,7390601
i
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,
i
The accompanying notes are an integral part of this statement.
68
ry
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LIABILITIES, INVESTED Total Working Motor
CAPITAL AND R STAINED
Memo Capital p_ ool
EARNINGS
p CURRUIT LIABILITIES
Deficit position in y 362,022 $ 3629022 $
pooled cash (Note C)
Accounts payable,
r accrued payroll and 940468 74,466 16,382
• vacation pay 127 127
I Due to other funds
i~ Total current
452,617 436,235 16,382
liabilities
INVESTED CAPITAL
Investment by Electric 180,747 180,747
System Fund
Investment by water and 108,975 108,975
Sewer System Fund
Contributed assets t
k • iGeneral and Special 1,038 268 1 038 268
l Revenue Funds) , 7,990 2`~91 1
RETAINED EARNINGS yl 34 6 06) _ 68 951
+ (ACCUMULATED DEFICIT')----
i $ 2,398,962 $ 6690351 $ 1,739,601 '
• 69
.
City of Denton, Texas
Intragovernrental Service Funds
STATEMENTS OF OPERATIO14S
Year ended September 30, 1978
Total Working Motor
Memo Ca ip tai Pool
Charges to other funds $ 1$66,632 $ 1,293,690 $ 263,042
Less cost of material
Beginning inventory 476,768 476,768
{ Purchases 1030 619. 1 030 619 - r
1, 07,E r50 r r
Less ending inventory 478 443 478M3 -
11028. 5 2_, $8 1087 263042
~ ~ 4w
Operating expenses -
Salaries and wages 216,187 216,187
Supplins 13,480 13,280 200
Maintenance 8,691
I - Services 21,313 21,313
insurance and other 39783 3x783 s
263 347
Depreciation (Note A) 269.066 .66708
3`~2,~ 268, L2 2`~6 ,
e i
Oparossg income (41721) (4,216) (606)
Other `income
Miscellaneous income 2,931 2,931
Interest _ _`!1739 4,739 k
w
NET INCOME (LOSS) $ 2,949 $ (1,286) $ 4,234 '
}
1
f
The accompanying notes are an integral part of this statement,
i
70
City of Denton, Texas
Intragovernmental Service Funds
STATEMENTS OF CHANGES IN INVESTED CAPITAL
AND RETAINED EARNINGS
40
Year ended September 30, 1918
r
CHANGES IN INVESTED CAPITAL
Total Working Motor
Memo Capital Pool
Invested capital at
• October 1, 1977 $ 1,264,600 $ 289,722 $ 974,878
iT Addttienal invested by 63 90 63,390
I ! General Fund
j Invested capital at 1,327,990 $ 289,722 $ 11038,268
Septmober 30, 1978 $
CHANGES IN RETAINED EARNINGS
Motor
Total Working pool
ra Retained earnings
(accumulated deficit) at $ 615,396 $ {65)321) $ 680,711
October 1, 1977
i Net income (loss) for the 2 949 {1) X23-4
year ~
i
Retained earnings
(accumulated deficit) at $ 6181345 $ (66006) $ 684,951
September 30s 1978
If ,
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The accompanying notes are an integral part of this statement,
M
71
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~ov Fin,
City of Denton, Texas
Trust and Agency Fund
PAYROLL FUND
BALANCE SHEET
September 30, 1978
ASSETS r
Cash $ 222,952
LIABILITIES
$ 177,479
FICA taxes payable
Other payables 45,473
$ 222952 r
f
~ i
The accompanying notes are an intogral part of this statement.
72
I. _ , i N •r1~41 -a14a4 PRYY({tjr4 ~~F1 a25..
H
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City of Denton, Texas
9 ~
STATEMENT OF GENERAL DEBT
r
September 301 1978 and 1977
1978 1977
'S amounts available and to be nrovided
« for retirement of general debt
Available in General Debt Service $ 41868 $ 167,517
Fund 11,5290066 it 866,483
Future requirements s
$ 119533,934 $ 12,024>000
1
1 General debt (Note D),
General obligation bonds and 00 120024,000
A
warrants payable $ 11,369,0 $ I
Certificates of obligation
125,000
payable
Installment banknote payable 32.934 j
$ 11,533,934 $ 12,024,000
I
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40
The accompanying notes are an integral part of this statement,
Y
73
1 City of Denton, Texas
STATEMENT OF CHANGES IN FOTURE REQUIREMENTS
September 301 1978 and 1977
i
1978 1977
j Balance at beginning of year $ 11,856,483 $ 9,304,562
General obligation bonds and
certificates of obligation
issued during the year 125,004 30000,000 {
Installment bank note obtained
~ during the year 439276
Decrease inamount available
1 in General Debt Service
Fund 162,649 ` 112,921
j Bonds, warrants and note principal
retired during the year 658 342) (66,110,00)
Balance at end of year $ 1105290466 $ 111856,483
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¢j City of Denton, Texas
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS
Year ended September 30, 1978
fi
October It Net September 30,
1977 Additions 1978
s
• GENERAL FIXED ASSNS
Land and land improvements $ 2,573,459 $ 190241036 $ ` 31597,495
V Building 1,955,782 510,448 2,466,230
Streets 13,075,567 1,977,367 15,0529934
s Equipment and other
improvements 1,948,321 237,054 21185,375
r 1 Construction work in
process 705,453 i1 061 6949392
k $ 20,258,582 $ 3,7370844 $ 230996,426
INVESTMENT IN GENERAL
FIXED ASSETS i
From proceeds of i
! general obligation
i bonds $ 140974,312 $ 2,141,925 $ 17,x160237
From current
revenues 1,802,755 227,748 2,030,613
From contributions
I and special revenues 3,481,505 68 171 4 8, 491676
20,258,582 $ 3,737,844 $ 23,996,426
I
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The accompanying notes are an integral part of this statement,
76 1
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r City of Denton, Texas
NOTES TO FINANCIAL STATEMENTS
September 30, 1978 and 1977
A - SUMMARY OF ACCOUNTING POLICIES
The following is a summary of tha
applied in the preparation of the signi accompianyicantng accounting spolicies tatementspnsistently r
Bases of Accounting
The accrual basis of accounting is followed by all funds other than budgetary
funds `:(General, Special Revenue, Debt Service Funds and capital Prorance)method
which utilize the modified accrual basis I of accounting is used for, all funds for purposes of preparing and reporting on
the City's budget; for external reporting, the encumbrance method of accounting
is not used in the Enterprise and Intragovernmental Service Funds,
_Inventories
Inventories consist primarily of supplies and fuel and are valued at moving
average cost.
E I Accounts Receivable
Included in accounts receivable.in the Electric System Fund are amounts 'due
for water and sewer services provided by the Water and `Sewer Fund and garbage
services provided by the General Fund. Utility receivables are all carried by
the Eleotric'System Fund to facilitate accounting and collection procedures, .
Each fund records its own portion of 'the revenues and losses from these accounts.
Revenues are recognized on the basis of monthly cyycle billings to customers for
services provided.' As a result of this `cycle billing method, the city accrues
unbilled service at the end of any fiscal period with respect to service pro-
Li I vided but not billed at such date, the amount oP unbilled receivables amounted
to approximately $1,630,000 and $1,572,000 at September 30, 1978 and 1977 re-
spectively,
G Fi?ted Assets.
Utility plant in service of the Enterprise Funds and equipment of the Intra-
governmental Service Funds are recorded at cost or market value at date of con-
tribution. Depreciation has been provided using the straight line method in
amounts sufficient to relate the cost of assets to operations over their estimated
useful lives.
During the year ended September 30, 1967, the net carryin value of the electric
system utility plant in seevioe,was increased by $40861,488 to the appraised
replacement value less depreciation as, determined by independent consulting
engyineers, The appraisal increment is being amortized at an annual rate of
$283,158 and is charged directly to "Unrealized increment in valuation," a
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j City of Denton, Texas 1
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 1978 and 1977
•
A - SUMMARY OF ACCOUNTING POLICIES (Continued)
component of the System Equity, and is not, included in the annual depreciation
• expense, The recording of appraised values in excess of cost and the charging
of annual depreciation of $283,159 of such excess value directly to the System
Equity rather than to expense is not in conformity with generally accepted
accounting principles.
} General fixed assets purchased are recorded as expenditures in the General,
Special Revenue and Capital Projects Funds at time of purchase, Such assets
are capitalized at cost in the general fixed assets group of accounts. Gifts
a, or contributions are recorded in general fixed assets at fair market value at
the time received. No depreciation has been provided on general fixed assets.
Property Tax Revenue
The City records revenue from property taxes in the year in which the cash is
received. For purpose of 'accountability, the City records delinquent property
taxes receivable as an asset, but offsets these amounts with a related reserve
E. for uncollected taxes,
` 0 Revenue Sharing Revenue
I
It is the City's policy to record all payments from one entitlement period with-
in one year to the.,extent-practicable During 1577, the ending .date of the
entitlement period was changed from J6ne30;to September 30.; Consequently, the
final payment for the entitlement periodending September 30, 1977, which was
received in:October 1977, was accrued rasulti%g in five payments being recorded
in 1977. The four payments relating to the entitlement period ending September 300 19780
were recorded as revenue in the fiscal year 1978,
TRANSFER OF EXCESS REVENUES FROM THE UTILITY SYSTEM FUNDS TO THE GENERAL FUND
The City Charter allows the City=to make`a discretionary transfer of,"excess
revenues" of each of the utility systems to the General Fund in an amount not to
exceed six percent of the "net investment" (as both terms have been defined b
the City Attorney) in the utility system, in prior years the City has presented
` these' transfers as 'a direct reduction of retained earnings in the Utillty Fund
in a manner similar to a dividand- HoweVer, In1978 the City changed its,method
of reporting these transfers to conform W a !'Statement of Positi#.{n"';issued by
the A1CPA State and Loeal'Government Accounting C06ittee in September, 1978,
which recommended that such items`be included at a'separate"catagoryy"after net
operating income QQr loss on the Statement of Operations. The City has restated
its 1977 financial;statements to conf6rmwith this,presentation, This change
has no effect orr previously reported retained earning but does reduce the net
income transferred to retained earnings by the amount of the transfer from the
respective utility.
: 77
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} y of Denton, Texas
i
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 1978 and 1917
I
j C - EQUITY OR DEFICIT POSITION IN POOLED CASH
The w, is pooled into one bank
operating - cash of certain funds, as noted belo
account not identified with any particular fund, The accounting records for
each fund reflect an equity or (deficit) position in the pooled cash at i
September 30 as follows;
1978 1471 _ C
FUND $ 448,783 $ 39,413
fr i General Fund
Electric System Fund 1,4280342 (3,617,043)
I Operating account
Systems Extension and - 41615,177
3 Improvement Fund
I Water and Sewer System Fund 627,10E 727,021))
0 stating account 362 282,806)
pp,0223
Working Capital Fund 292418 598,036
f Motor Pool Fund - (9$48)
Criminal Justice Grant Fund
Human Services ProjectFund
139,792)
Airpor0 Improvement Grant Fund
Community Development Block ~~2 140
Grant Fund
$ 1,043,161 $ 608,763
D - LONG-TERM 'DEB? i
Water____ _ d!~d levier Svs~, t d ~u I
had Water 0
re secu ednbysa firstVlien upon.sthet['netaing
! As of September 30+ 19780 the pith a
of $6,230,000. These-bonds, w are.payable annually in varying amount
revenues" of the Water and Sewer System,
through 1998 with interest payable semiannually at rates ranging from 3.0% to 6.6%.
uthc
The City has covenanted,.in the ordiinances transfersnastfollowsnds, that it will
establish certain funds and make specifi
Fund° from
1) All evenues received will be deposited into a "Revenue ,
which all operating expenses will be paid.
t
2) On the-last day of each etahpart ofttheinextematurinin an gtInteresttandst
' a p
and principal payment.
78
ei
City of Denton, Texas
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
• September 30, 1978 and 1977
D - LONG-TERM DEBT (Continued)
1 3) The City will maintain a "Reserve Fund", equal to at least the
r average annual principal and interest requirements on all bonds
t outstanding, which wail be used to ppay debt service requirements
any time adequate money is not available in the "Interest and
k1 ,
Sinking Fund', In the event that, due to the issuance of new
bonds, the fund Is less than the average debt service, the City
will make equal monthly payments in an amount adequate to ac-
cumulate the required amount within five years after
of the new debt. Issuance
If the Cityy fails.to make the above transfers in any month, the
first avaflable revenues of the following months are to be used,
Any amount remaining in the Revenue Fund after providing for the
16 transfers to the other Funds may be used for any legal purpose,
The City has also -agreed that it will set rates adequate to produce "net revenues"
~ of not less than 1.
will. not issue additionaltimesWaterthe service coverage, Further, the City
Revenue Bonds unless all the above
noted funds contain the amount of money required to be therein and net revenues
are equal to at least 1,3 times the maximum debt service requirement after the
issuance of the additional debt.
Electric Svstem Fund
During March 1918; the City refunded its then outstanding Electric System Revenue
Bonds '(old Debt totaling $16 902,
New Debt were used to 0000 with'the proceeds from the issuance of
$191266000 ofectric System Refundin9 Bond (New . . Debt) Proceeds from . the. purchase ap roxima
p tely
and establish a $2,250,000 reserve'and a $250 0005ccontingency~fundmfor theUNowie
Debt The gove nment securities, which mature,on dates designed to'full
for pa ent id Debt, are held in a special escrow account by a trustee de
and solely for the benefit of the holders of the Did Debt, thereby.defeasin
their security interest on, the revenues of the Electric System,
resulted In the City rocognfzing a net gain of approximately $890x000 which has
been recognized as an extraordinary item in the Statement of Operations in then
Electric System Fund,
r The New Debt, which is secured by a first lien upon the 1tnet revenues" of n
system, consists of serial bonds which are due in varyii;g amounts from 1986
through 2008 and bear interest at rates ranging from 4.6% to 6.86%4
In the ordinances authorizing the issuance of the New Debt, the 'Cit has to establish various funds and make specified transfers as follows;
1) The City will establish, from bond proceeds, a "Reserve Fund" of
$21250400 and a "Contingency Fund" of $2549000, The Reserve Fund
i •
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City of Denton, Texas
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 1978 and 1977
D - LONG-TERM 09BT (Continued)
will be used solely for bond payments when the other funds are
not adequate and will be increased if additional debt is Issued.
The Contingency Fund is to be used solely to pay for unexpected
repairs or replacements of the System if no other Funds are
available or to pay bonds if other funds are not adequate. Re-
ductions in these funds below the specified levels must be re-
placed in specified periods by budgeted payments from the pledged
Revenue Fund as noted below,
2) All revenue will be deposited into a "Revenue Fund from which all
operating and maintenance expenses will be paid. Semiannually, the
City will transfer all available revenue into a Pledged Revenue
Fund," from which the following transfers will be made. After mak-
f i in, these transfers, any remaining amount may be used for any law-
1`2
€ ful_purpose,
i
' 3) The City; will make specified semiannual transfers, desiggned to
E ;
pay the required debt service payment and produce a minimun: balance
of $7,912,000by 1985 Into a 4978 Retirement Fund." The "Retire-
meet Fund," which is maintained by a trustee, will be used solely
to make required debt service` payments,
4) The City will reimburse the Reserve and Contingency Funds for any
f reductions in the funds below the required amounts,
6) The City will transfer an amount equal to 8% of the "Adjusted Gross
Revenues" (defined as Gross Revenue less any costs' incurred in supply- ~
ing fuel to,the City) to an;"Improvement Fund," This'fund , wiII be E
used to ay for costs of system improvements or, if no other funds i
- are available, for extraordinary` operating expenses or payment of
the New Debt.
The City has also agreed, among other things, to set rates adequate to provide
"Pledged Revenues" equal to at least 1.4 times the payments to the Retirement
Fund, Further, no additional debt may be issued unless the above noted Funds`
'contain the required amounts and Pledged Revenues equal to 1.4 times the pby-
ment to the Retirement Fund and the average annual debt service requirement on
the additional debt,
GeneraI Long Term Debt
t
As of September 30, 1978, the City of Denton has general obligation serial bonds
and warrants outstanding of $11,389,000, These bonds and warrants are payable
annually in varying. amounts through 1997 from tax collections. Interest is pay.
able semiannually at rates ranging from 2,5% to 7,26%. {
as
1 an. y
';31 e, Jiirtii i
e
City of Denton, Texas
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
« September 30, 1978 and 1977
0 - LONG-TERM DEBT (Continued)
' The Certificates of Obligation issued in 1978, totaling $125,000, are due annually
from 1980 through 1990 and require interest payments at 5% semiannually, The
Certificates are to be paid from taxes levied to support the issue or from any
Net Revenues remaining from the City's Water and Sewer System after making pro-
visions for all required payments under the IJater and Sewer Revenue Bonds,
E, * The 5.6% installment note is 'payable to a bank, from General Fund Revenues, in
monthly payments of $1,307 through June 1981,
E - C034ITMENTS AND CONTINGENCIES
The City is currently the defendant in a suit in which the plaintiffs have re-
qquested that the Water and Sewer rate increases adopted by the City Council on
June 30, 1978 be declared illegal and that amounts paid due to such increase be
returned, The City believes that the ultimate resolution of the suit will not
f have a significant effect upon the operations of the Water and Sewer System,
In addition to the litigation` described above, the City is one of four named I
defendants in a product liability case arising from the death of an inmate of
the City jail. y~The aggregate damagei clainad by the plaintiff from all `defendants
that the Cityls insurancecoverage by approximately $500,000, The City believes
iiatie and, that in any case, the City's lia-
bility will not exceed its insurance coverage.
Agreement with Texas Municipal Power Aaancv
During September 19761 the City, along with the cities of Bryan, Greenville and
Garland, Texas (collectively referred to as The Citie entered into a Power
A Sates Contract with the Texas Municipal Power Agency (Agency), a municipal cor
poration and policital subdivision of the State of Texas,
Under the terms of the agreement, the Agency, which was created through concurrent
ordinances of The Cities and which is governed by a Board of Directors consisting
of
of eight members, two appointed by the gover
ergyit aawers, to
constructs or acquire electric g~.r~~ator plants governing to u 1 body of ev ener ay
Ct
ties for a eriod of not 1as$ 35 years, The Cities have an to The
greed tc_'purchase
di
all,future power and averggy requirements in excess of the amount generatatl by their
systems currently in ex stencil Nm the Agency at prices intended to.coverv (a) the
operating costs of the system and (b) the retirement of any debt incurred,by the
1Agency. In the avent that revenues are insugficient to coverall costs and retire
0 the outstanding debt, each of The Cities has guaranteed a portion of the unpaid
debt based, generally, upon its pro rata share of the energy delivered to consumers
in the prior operating year, As of September 30 19780 the City's guaeanteod per-
centage is approximately 21%, At such time as all of the outstanding debt of the
81
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City of Denton, Texas
NOTES TO FINANCIAL SThTEMENTS (CONTINUED)
September 30, 1978 and 1977
E - COMMITMENTS AND CONTINGENCIES (Continued)
i
Agency is retired and the Agency is dissolved, each City will be entitled to an
undivided interest in the property based upon its pro rata share of total pay-
! mentsl
As of September 30, 1918, the Agency has issued $30001000,000` of bonds fo rtthe
construction of a lignite coal-fueled generating plant be operational in 1982 and for the purchase of a percentage ownership of a.
I nuclear powered generating facility, It is anticipated that the total cos` for
1 the acquisition of these facilities and the building of related transmission
{ facilities will be in excess of $1.1 Billion,
1 i
Prior to the period that the Agency becomes operational, each City has agreed
f to pay a'pro rata share of the Aggency's general and administrative exppenses.
Amounts paid to the Agency for these expenses amounted to approximately $110,000
and $130400 during 1978 and 1977, respectively.
ick Leave
Accrued Vacation and S
The City aliows employees to accumulate unused vacation (up to forty days) and
sick leave' (without limit). Upon termination, any accumulated vacation time
' will be paid to the employee, Generally, sick leave is not paid upon termina-
tion but will be paid only upon illness while in the employ of the City Pur-
suant to generally accepted accounting prindiples, amounts paid for vacation
and sick pay are expensed when paid except for enterprise and intragovernmental~
service funds where vacation pay is accrued. The dollar amount of unused.and
unaccrued vacation and sick'leave at current pay rates totalbd approximately ;
$206,000 and $1,106;0001 respectively, at September 300 1978.
F - LONE STAR GAS t
During September 1977, the City entered into a new gas sales contract with`,Lotie
Star Gas Companyy (Lone Star) which provides for gas through 1981, The contract
requires that the City estimate its future use and provides penalties if actual
usage is less than 76% of the estimate, The City, also agreed to retroactively
pay the increased price specified in the new contract for all gas received sub f
sequent to :April 1, 1977, This contract replaced a previous contract with
similar terms under which the City hadpaid approximately $308,000 o,f take or
pay deficienciest Concurrently with signing the new gas sales contract, Lone
star agreed to refund all 'payments made under the take or pay provisions Of the
old contract and the City in turn has agreed to refund to customers that portion
of the deficiency 'p reviously passed through, No take or pay deficiency is t:
anticipated for _1978,
82
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City of Denton, Texas
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
311" r September 30, 1978 and 1977
G - PENSION PLANS
:ta
i" 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,
The City's policy is to fund pension costs accrued, The actuarially computed
value of vested benefits of the plan as of December 31, 1977, did not exceed
0 assets of the fund. Total pension expense, which includes amortization of
prior service costs over 20 years, for the year ended September 30, was as
follows;
r
fj 1978 1977
i
» General Fund $ 1300000 $ 103,000
Electric Fund 62,000 44,000
Water and Sewer Fund 29,000 26,000
Working Capital Fund 8,000 7,000
`s $'219,000 $ 180000 !
k "'E The firemen are covered under the Firemen's Relief and Retirement, Plan of the
City., The plan is a contributory plan, with the City's portion totaling appp
proximately $44,500 And $28,300 during 1979 and 1977, it is the City's policy
f to.fund pension costs accrued which include amortization of prior service costs
r „ ' w over 30 years. The'actuarially :computed value of vested aenefits of the plan
SrI as of December 31, 1077 did not exceed the assets of the fund,
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A SUPPLEMENTAL INFORMATION
85 '
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City of Denton, Texas
BONDS PAYABLE - ALL FUNDS
Year ended September 30, 1978
Original Percent
Issue Final amount Interest
date maturity of issue rates
t
I GENERAL OBLIGATION DEBT
1960 Street
Improvement 7-15.60 7-15-85 $ 600,000 3.54 to 3.85
1962'Street
Improvement 3.15-62 3-15-87 500,000 2.75 to 3.20
1963 General
Obligation 3-15-63 3-15-88 500,000 2.50 to 3.25
J 1964 General
Obligation 7-15-64 7-15-82 800,000 3,00 to 3,20 l
I 1964. Park
Improvement 7-15-64 7-15-82 200400 3.00 to 3.20
E 1966 Airport
II E Improvement
Warrants 12-01-66 12.01-81 1139500 4,50
1966. General
Obligation 1-15-66 1-15.86 100000000 3.30 to 5.00
1967 Genirat
Obligation 11-15-67 6w15-89 600,000 4,25 ,
1968 Geneja.l
Qbligation ' 2-01-68 2.01-88 11000,000 4,00 to 5.00 1
1969.Ge6eral'- r
Obligation 4.15.69 4-16-89 1,286400 4.60 to 6.50
1070'Oeneral
I Obligation 9-16-70 3-15-91 1,000,000 5.70 to 7.00
1974 Street j
improvement
Bonds 7.16.74 7.15-94 1,806,000 6,25 to 7,25 i
1974 General
Obligation 7-15-76 7.15-94 9860000 6.25 to 7.25
1976 General '
E Obligation 4-15-76 7-15-96 2,500,000 4.50 to 6.60 '
1977.General
Obligation 6.01-77 6-01.97 3,000,000 4.00 to 6.00
1978 Gertificates
of Obligation 3.01-78 3-01-90 125,000 5.50
1 1978 Installment
bank note 7.01-78 6-10-81 43,276 5.50
i
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K Al%r 11777
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1{
s Chances ear ended September 30 1978 Maturities in
year ending
October 1, September 30, September 30, 1979
_ 1977 Issued Retired 1918 Princioal Interest
$ 20Q,400 $ - $ 25,000 $ 175,000 $ 26,000 $ 6,738
~i
200,000 20,000 1809000 200000 5073
220,000 20,000 200,000 20,000 6,040
f
290,000 659000 2250000 60,000 7,143
70,000 1o,00o 60,000 150000 1,906
i
49,000 I0,000 39,000 I0,000 1,530
e 540,000 - 60,000 480,000 600000 15,488
3609000 - 30,000 330,000 30,000 14026 i ,
I
575,000 50,000 6259000 50,000 21,225
805,000 600000 745,000 60000 379496
700,000 50,000 650,000 500000 35,487
I ` I
19660,000 - 15,000 1,575,000 75,000 89487
865400 55,000 810,000 55,000 45,250
' 20500400
-
126,000 2,375,000 125,000 1239750
• 390000000 - - 31000tooo 1500000 164>700
125,000 - 1250000 10,313
43,276 3042 39,934 131833 1;851
$ 12,024,000 $ 168,276 $ 658,342 $ 11,633,934 $ 8189833 $ 677,400
87 i
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City of Denton, Texas
BONDS PAYABLE - ALL FUNDS (CONTINUED)
Year ended September 30, 1978
Original Percent
Issue Final amount Interest r
date mat~ unity of Issue rates 4
ELECTRIC SYSTEM
REVENUE BONDS
1954 11-01-54 11.01-84 $4,287,000 2.75 to 2.90
1965 6.01.55 11.01-85 10350,000 2.75 to 2,90 r7'
1955-B 11-01-55 11-01.85 1,3871000 3.00
1961 1.01-61 11-01-90 5,200,000 3.75 to 6.50
1965 1-01.65 11-01-64 4,000,000 .50 to 5.00
" 1968 2-01.68 11-01-88 1,000,000 4,00 to 6,00
1970 9-01.70 11-01.95 30600,000 4.50 to 6.80
i 1972 5-01.72 11.01-97 6,000,000 4.00 to 6,00
1974 7-01.74 11-01-98 10500400 5.00 to 7,00
!
1978 3-15-78 12-01-07 19,255,000 4.60 to 5.85
i
~ t
WATER.AND SEWER
SYSTEM REVENUE
BONDS
1 196960 7-16"60 7-15.90 19700,000 4.06 to A,'25
J I-IS-62 7--16-90 10000400 3.00'to 345
I 1964 7-16.64 7-19.84 2500000 300 to 3,40 `
li 1966 1.15-66 7-1686 1,000,000 3,34 to 4;50
1969 4-15.69 7-1589 - 1,060,000 4.00 to 6.50
1972 9,16-72 7-15-93 115001000 4.00 to 15.00
1974 7-16.74 7-15-98 2400,000 5.60 to'6.60
1977 6-16-77 7-1692 500,000 4.50 to 6.50
L
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Maturites In
Changes - year ended September 30, 1978
October 1, Se tember 30, Year ending
p Se tuber 30, 1979
1977 Issued Retired 1978 Princ pa Interest
#y~
IT 1,660000 $ » $
513,000 513,400 - _
553,400 - 653,000 _
4!170,000 - 4,1701000 -
1,400,OOb - 1,400,000
' '600,000 600,000 -
f 2~660,000 2,660,000
6,040,000 5,040,000 =
1,450,000 1,450,Q00
" - 19.,255,000 - 19,256,000 1,264,890 ;
I $ 17,946,000 $ 19,255400 $ 17,946,000 $ 19,2550000 $ $ 1,2549890
I
{ $ 1,076,000 $ - $ 66,000 $ 10010,000 $ 66;000 40i40a 1
! 590,000 - 360000 6560000 40x000 1843
70►000 - 10,000 60,000 10►060 Qlb
460!000 - 60,000 400,OQ0 50,400 13«940
670,000 609000 610,000 6040 30010
..1,330,000 - 60,000 ],270,000 65,Ob0 64,501#
1,900,000 - 75,000 1,825,000 76,000 1109425
50¢,000 - 5oo,t0p0 25,400
$ 6,585►000 $ - $ 355,000 $ 6,230,000 $ 365,000 $ 306,368
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City of Denton, Texas
ASSESSED VALUATION AND TAX ASSESSED
(Unaudited)
Year ended Assessed valuation
September Read Personal
30 property property. Total Tax assessed n
1969 $520066,360 $14,9341931 $ 61,000,291 $100050004
1970 55,4179090, 15,658,946 71,076,036 1,066,141
1 1971 60,5,39,722 16,406,918 76,946,640 1,164;199
i 1972 66;230,863 16,9011390 83,1325263 1,413,248
\ 3 1973 76,671,409 18,484,314 95,165,723 1,617,647
j 1974 82,4090280 19,813,560 102,222,840 11737,788
1915 89,883,677 22,2761049 112,158,726 1,906,698
1976 95,735,078 28,592,085 124,3270163 2,113,661
1977 98,863,846 37,676,779 136,5401625 2,430,423
1978 213,1350760 58,203,469 271,339,229 313649606
TAX RATES
The constitutional and statutory tax rate limit, including debt serv-
ice) is $2.60 on each $100.00 of assessed valuation. For the year ended i
{ ! September 30, 1978, the City of Denton's tax rate is $1,24 on each $100,00
of assessed valuation, The assessed valuation is 60% of true estimated value,
TAX DUE DATES AND PENALTIES
Taxes are due on October 1 and become delinquent on February 1, Taxes
may be paid in two installmeitits, one-half by December: 31 and the balance before
March 31, Penalties due on delinquent taxes accrue: February 2%, March '6%
p April 6%, and May 7%. Interest on delinquent taxes in addition to penalties !
accrues at the rate of 1/2% per month, No discount is allowed for early pay
' ment!
t,
92
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City of Denton, Texas
Fl TAX ASSESSMENT AND COLLECTIONS
(Unaudited)
Collection of Percentage
Year ended of levy
4. Total current year's collected
e September 30 assessment* taxes d4ring year durin4 year
1969 $1005404 $ 930,679
ij 1970 1057,259 994,426 92.60
1 1971 1,13ra,935 94,10
088,047 95!78
1972 104099244 1l349462 96.76
1973 1,7330260 1,5430185 95.65
1975 ,452 1471j916
96.56
1,900>006 1 8
1916 2 107'819 ,..13,816 95,46
j 1977 2,418,166 2~302,Z58 95.00
1978 30349341 3,130,697 9962
3,90
*Total tax levy figures are adjusted to reflect adjustments approved by ~
the city Council,
1
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City of Denton, Texas
INSURANCE IN FORCE
September 30, 1978
(UnaUdited)
Expiration
Premium Polic n~, Date
Insurance Comoany
47 752.33 SFC 26 40 46 10-U1-79
Allied Insurance Company $
American Indemnity Company 309.00 8SG 2202862 12-18-d1
Jack'McFarling Insurance
Atlantic Insurance company 20.00 90 38 88 12-31-79
Denton' Insurance Canter ,
/ CGL-A-558475 01.01-79
{ Employers Casualty Company 27,916:00
26,788.00 CAF-C-594478 01-01-19
TML - Texas Employers TML-A-0103 07-01-80
insurance Company` 46,687,$0 1
f i Fidelity & Casualty Company
of New, York Denton 1,715,00 141 18 32 90 11-01-81 i
Insurance Center
Fidelity & Casualty Company
of New York - Denton 754,00 PG 2 45 45 00 02.24-79
insurance Center
e,, r
Fidelity 6 Casualty Company
of Now York'- Denton 271.00 PG 2 45 44 95 01.23-81
Insurance Center
Fidelity a Casualty' Company
of New York - Denton 8ND 1991826
{ Insurance Center 2,216,00
I
86,170,00 HN73.14278-00 01-0180
The Hartford Steam Boiler
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VAN
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' Coverage Amount or
rfi limit
Fire and extended coverage on utility systems,
f," a buildings and contents, and newt ac uired 40,068,001
buildings and their contents y q 50 coinsurance
Robbery inside premises 10,000
Robbery outside premises 10500
k- M
Diesel Fuel Bond 500
s Public liability: General:
Bodily injury 300,000
Peoperty. damage 50,000 A 500000
* Automobile,
` Bodily injury 100,000
ggQQ pppp
1Property damage
r Ib~,00S
Workman's Compensation
1 As stated in WC taw
Utility accounts receivable destruction
of records 2,400ti000
Comprehensive - discount glass policy
Total loss
} Comprehensive - discount glass policy Library Total loss
Faithful performance bond: City Manager
Director of Finance 606
Assistant City Manager 100,0 ;
Each Employee
20500
General boiler and machinery 1000000000
96
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city of Denton, Texas
T '"""N INSURANCE IN FORCE (CONTINUED)
September 30, 1978
(Unaudited)
Expiration
Premium.... policy no. 0 -
insurance Company 10-01-78
Blue Cross - Blue Shie'[d $ 176,964.73 r,
r
{ Ij
St, Paul Fire & Marine In- 9-18-79
surance Company -Denton 50.00 400 CR 8730
Insurance Center
I
United States Fire Insurance 441.00 SR0063015941 1-15-79
} Company
500.00 FGL 03652 6-0?.-79
k Northfield Insurance Company
SE 13213 6-02-79
Industrial General Agency, Inc. 10100.00 i
Guaranty National Insurance 775 00 GLA 0030348 2-02-79 ry
Company
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Amount
Coverage
Group Accident Sickness and Life coverage
on all full-time employees
II Faithful performance bond - Tax Assessor 10,000
A
I ! Group Accident Sickness and Life coverage
E on all Police Reserve
i Ambulance excess third party 200,000 & 1000000
t Ambulance - excess li:t,ility 5009000 & 11000*000
300,000 & 5000000
F t`, t
`"a2 Ambulance - professional liability 1Q0,000 & 3006000 !
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City of Denton, Texas
MISCELLAgEOUS STATISTICAL DATA
I
1 September 30, 1978
(Unaudited)
STATISTICAL' DATA
AS 01:' SEPTEMBER 30, 1978
j
- { Area of `City 33.2 square miles {
IJ Date of Incorporation{
Total City Employees September 26, 1866
(Including seasonal employees) 659
~ j
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t,+ 1974
` Estimated; population
lr $ 43,50o t
Tax rate - per $100 valuation
krt I 1.70
` As$e$sed valuation a
t $ 102;222,840
Electric production (kwh)
r
. ii
` °t' 548,587,!00
Water production (1400 gallons pumped)
2,490,026,
Electric, customers '
13,023
t Water customers
` ~ 11,363. 1
General Fund revenue
,9~c t
rtr $ 4,4809066
General Fund expenditures
"
t,;~. ~ $ 4,2198
4~ lLK F f 1
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~ 1975 i976 1977....
19x8.
43„100 46,800
~ ~ , ~ 47,900
51,500 ~ `
i,, 1.70 170 1.78 1.24 1
r _
~x;s I $ 112,158,126 $ 124,32),163 $ 136,540,625 $ 271,339 229
+f • ~ , ~ •
,~~i 'j. 522,237,100 524,041,4Q0 491,115,600 ~ ,
f ~?f 322,699,080 !
~:~if ~ 2,633,943 2,655,6$7 3,000,770 3,069,238
tl4, , 13,289 ,
~ ' 23,986 24,620. 16,323
~Fhtf 11, 591 12,013.
~i,~; • 12,327 12,787 ,
;sir, $,904,169 $ 5,269,098 $ 6,294,6,7 $ 7,982,748 j
~s~a $ ,804,176 $ 5,580,779
,~7,• $ 6,131,801
$ 7,798,055
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