HomeMy WebLinkAbout09-30-1997
s
Comprehensive Annual Financial
Report
FY ending September 30,1997
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FOR THE YEAR SEPTEMBER 300 1997
I PREPARED BY EPARTMENT OF FINANCE
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CITY OF DENTON, TEXAS {
I COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the fiscal year ended September 50, 1997
CITY MANAGER
I Ted Benavides
ASSISTANT CITY MANAGER OF FINANCE
Kathy L. DuBose, CPA, CGFO
Director of Management and Budget
Jon Fortune, CGFO
Prepared by:
Kristin Newman, CPA, COFO
Contuoaar
Peckyy Buck, CPA
Sorlat Utmty Accountant
Marianne Yarbrough, CPA
Sonior Orant Accountant
Susan Sullivan
Salvor Utmty Accountant
DayAna Hutchinson
~ ccountant a
Kerls Stestny
AccountantI
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TABLE OF CONTENTS
Page
INTRODUCTORY SECTION:
Transmittal Letter i
Organization Chart .....................................................xi
Certificate of Achievement ...............................................xli
List of Principal Officials ...........................xid
FINANCIAL SECTION;
Auditors' Report .......................................................1
General Purpose Financial Statements-
Combined Balance Sheet • All Fund Types and Account Groups ....................4
Combined Statement of Revenues, Expenditures and Changes in Fund
Balances . All Governmental Fund Types and Expendable Trust Fund 10
Combined Statement of Revenues. Expenditures and Changes In Fund Balances
Budget and Actual - General, Special Revenue Recreation, Police Confiscation and Emily Fowler
library funds and Debt Service Funds (Budget Basis) 12
Combined Statement of Revenues, Expenses and Changes in Retained
Earnings • All Proprietary Fund Types ..14
Combined Statement of Cash Flows - Atl Proprietary Fund Types 16
Notes to Financial Statements • • .21
Combining and Individual Fund Financial Statements and Schedules-
Combining Balance Sheet • All Special Revenue Funds . 52
Combining Statement of Revenues, Expenditures and Changes
in Fund Balances - All Special Revenue Funds .............................54
Combining Balance Sheet • All Capital Projects Funds 58
Combining Statement of Revenues, Expenditures and Changes in Fund 1
Balances - All Capital Projects Funds ..................................60
Combining Balance Sheet • All Enterprise Funds . 84
Combining Statement of Revenues, Expenses and Changes in Retained
Earnings • All Enterprise Funds , ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ,,68
Combining Statement of Cash Flows • All Enterprise funds 70 {
0 Schedule of Revenues, Expenses and Changes in Retained
Earnings . Budget and Actual • (Budget Basis) • All Enterprise Funds 74
Combining Balance Sheet • Utility System . ...76
Combining Schedule of Revenues, Expenses and Changes in Retained
Earnings • Utility System .............................80
Combining Statement of Cash Flovrs • Utility System . ...................82
Corr in,ng Balance Sheet • All Internal Service Funds ..........................88
O Combining Statement of Revenues, Expenses and Changes in Retained
Earnings (Deficit) • All Internal Service Funds ..............................90 f[1
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Combining Statement of Cash Flows • All Internal Service Funds 92 I
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Schedule of Revenues, Expenses and Changes in Retained
Earnings (Deficit) • Budget and Actual : (Budget Basis). Warehouse, Fleet Services,
and Motor Pool Funds ..91
Combining Balance Sheet • All Trust and Agency Funds .98
Statement of Changes In Assets and Liabilities • All Agency Funds 100
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Supplemental Financial Information-
General Fund Supplemental Information-
Schedule o' Expenditures . Budget and Actual 104
Federal Energy Regulatory Commission Supplemental Information (Unaudited)-
Electric Utility Schedule of Assets, Liabilities,and Capital . Electric Operating Fund 116
Electric Utility Schedule of Net Income • Electric Operating Fund . 119
Electric Utility Schedule of Budget and Actual Expenses • Electric Operatint, Fund 120
STATISTICAL S£CT70N (UNAUDITED):
Table
1 General Government Expenditures by Function - Last Ten Fiscal Years 124
2 General Revenues by Source - Last Ten Fiscal Years 126
3 Property Tax Levies and Collections - Last Ten Fiscal Years 128
4 Assessed and Estimated Actual Value of Taxable Property -
Last Ten Fiscal Years . ......................130
5 Property Tax Rates and Tax Levies • Direct and Overlapping Governments -
Last Ten Fiscal Years . . . . .132
6 Special Assessment Collections - Last Ten Fiscal Years 133
7 Ratio of Net General Bonded OF yt to Assessed Value and Net
Bonded Debt Per Capita - Last Ten Fiscal Years 134
8 Computation of Legal Debt Margin . . . ..........................136
A 9 Computation of Direct and Overlapping Debt . . 137
10 Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Expenditures - Last Ten Fiscal Years 138
11 Revenue Bond Debt Service Coverage • Last Ten Fiscal Years . . 140
12 Property Value, Construction and Bank Deposits - last Ten Fiscal Years , 142
13 Principal Taxpayers ..............................................145
14 Schedule of Insurance in Force . . . .146
O 15 Demographic Statistics last Ten Fiscal Years . . . . . . . . . 148 Q
l 16 Miscellaneous Statistical Data ............................150
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CITY OF DENTON, TEXAS
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Comprehenelve Annual Flnendal Repot
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Ch , OF DENTON, T_FXAS '
January 9, 1998
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TO: The Honorable Mayor, Members of City Council and Citizens of the City of Denton
Submitted herewith Is a copy of the Comprehensive Annual Financial Report of the
City of Denton for the fiscal year ,nded September 30, 1937. The respc iGility for both the
` accuracy of the presented information and the completeness and fairness of the presentation of
the data, Including all disclosures, rests with the City. To the best of our knowledge and belief,
the enclosed data Is accurate In all material respects and are reported in a manner designed to
present fairly the end results of operations of the various funds and account groups of the City.
All disclosures necessary to enable the reader to gain an understanding of the City's financial
activities h,ve been included. The Comprehensive Annual Financial Report is presented in three
sections' introductory, financial and statistical, The Introductory section includes this transmittal
letter, the City's o(ganizatiunal chart, and a list of principal officials. The financial section includes
the general purpose financial statements, the combining and individual fund and account group
financial statements and schedules, as well as the Auditor's Report on the fi- uial statements
and schedules. The statistical section Includes selected financial and demog .yhic Information,
generally represented on a multiyear basis.
This report includes all funds and account groups of the City, The City provides a
full range of services, which Include police anti fire protection; solid waste services: the
construction and maintenance of highways, streets and infrastructure; and water, wastewater
and electric utilities.
11 Economic Condition and Outlook
0 Recent events should have a positive effect on local economic conditions. The
f sales tax to reduce property tax took effect in January, 1994. Sales tax receipts
f grew from $11,105,821 at September 30, 1996, to $12,139,976 at
September 3J, 1997.
A x International Isotopes, Inc,, a radioisotope manufacturer, recently purchased an
80,000. square foot building previously occupied by Union Camp. In addition, the 1D
~N company Is constructing two new buildings (valued at approximately 05 million)
h1~ I near the intersection of Woodrow Lane and Spencer Road. The new buildings will
be the first to occupy the North Texas Research Center, Ancillary operations,
such as pharmaceutical companies and medical equipment manufacturers, are
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Transmittal Letter (continued)
expected to follow. The company will manufacture radioisotopes to be used in
nuclear medicine diagnostics and therapeutics,
a First Financial Resources completed construction -)f a new office facility on
Kimberly Street. The new facility is 10,500 square feet and valued at
approximately $987,000.
■ Morrison Milling completed a 7,500-square-foot office expansion, valued at
approximately 6525,000, at their facility located on East Prairie Street and Bell
Avenue.
■ Developments at Denton Municipal Airport; In October 1997, Nebrig & Associates
relocated its aircraft brokerage firm from Dallas Love Field to their new hangar and
offices at Denton Municipal Airport. The airport's newest development project,
Hangar 10 Flying Museum, is under construction and will open this summer. The
museum has storage, display, and office facilities. Ezell Aviation assumed the full
service FBO (Fixed Base Operations) at the airport on May 1, 1997. The Ezells
have extensive development plans, which Include remodeling and expansion of
their current facility to provide a pilots' lounge and restaurant. In add'tion, the
Ezelis will construct a new hangar for their warbird restoration operation.
r Hartzell Manufacturing, Inc. moved into their new 39,960-square-foot office and '
manufacturing fac'r'ity located at 2200 Worthington. This new building Is Phase
One of a two-phase project planned by the company as it expands its operations
in Denton.
New Apartment Complexes: Waterford at Spencer Oaks on Spencer Road
(278,000 square feet).
Hat Tricks Roller Hockey Rink opened in September 1997. The facility is 60,000
square feet and includes a rink, pro shop, and concession stand. The new facility,
located on Mayhill Road, is valued at approximately $1,931,400.
Hobby Lobby, an Oklahoma City-hased retail crafts chain, renovated 62,030
square feet of a building vacated by Wal-Mart when they constructed their new
superstore. The approximate value of the Hobby Lobby renovation was
$320,000,
Kenton Community Hospital began a $6 million expansion that will Include
facilities for operatir g rooms and recovery areas. The expansion will be completed
in fall 1998.
Columbia Medical Center began construction on a $74 million, 186-bed hospital
{272,000 square feet) located on 1.35 East at Msyhill Road. The new medical
® center will have a full-service emergency center. The Heart Center of Denton will tD
be located in the new facility offering open heart surgery, coronary angioplasty,
cardiac catheterization, cardiac rehabilitation, and patient and family support
groups. Also planned Is occupational medicine specializing in Injury management,
prevention medicine, and health surveillance and the Woman's Pavilion specializing
In obstetrics, gynecology, and pediatrics.
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I Transmittal Letter (continued)
a Skyfab constructed a 22,500 square foot commercial metal manufacturing facility,
valued at approximately $711,000. The new facility is located at 9070 FM 2181.
a Locke Wholesale Suppliers moved into 32,000 square feet of the vacant Wal-Mart
building In May 1997,
■ The Family Doctors built a new 11,300-square foot office facility on Teasley Lane
valued at approximately 11,100,000,
■ Texas Motor Speedway, The 1, 200-acre speedway complex has a 1.5-mile oval
track and seating capacity of 163,000. The facility cost approximately
4100 million to construct. The speedway's inaugural races were held April 5-6
with the Coca-Cola 300 NASCAR Busch Series on April 5 and the Texas 500
NASCAR Winston Cup Race on April 8. {
■ Anderson Merchandisers; The new assembly/warehouse facility 1248,000 square
feet) for the distribution of books, music, and videotapes opened In April 1997,
I` The building is valued at $3.6 million and employs approximately 300.
` a Denton County Is nearing completion of construction on the new 181,000-square.
foot courthouse located at 1450 East McKinney Street, The new facility Includes
ten courtrooms, five district courts, two county criminal courts, and one statutory
probate court. A 100-room holding jail will occupy over 11,000 square feet of
basement space. The total project cost Is estimated at $18.9 million. Completion
of the project is scheduled for March 1998,
a Denton County Juvenile Detention Facility expansion will add an additional 72
beds to the current facility. A standardized pod configuration of 12 bedrooms per
pod has been utilized throughout the facility. Each pod also has its own shower,
passive dayroom, and classroom. When the project is completed In March 1998,
the facility will have a total of 48 pre-adjudicated Juvenile beds, 48 post-
adjudicated juvenile beds, and support facilities such as visitation areas.
a Intel Corporation plans to build a 11,3 billion new advanced log;c computer chip-
manufacturing center on 532 acres at Alliance. The facility initially will employ
800, with the potential to enlarge its workforce to more than 5,500 people.
Intel's plant will be one of the most modern and sophisticated chip-manufacturing
centers in the world.
® a Rich Music, a full line music store, moved into th rir new facility located at
2C4 South 1.35 East in July 1997. The 10,000•sgjare-foot building Includes
approximately 3,300 square feet of tenant space thit is leased by Sir Speedy
Printing. The facility is valued at 1438,015.
■ Action Carpet broke ground on a new 15,000-square-foot tacility located at
O 3008 South 1.35 East in September 1997. The project is valued at 1490,000. C
{ a Best Western will locate their new 70-room motel at the intersection of 1.35 North
and University Drive (behind Cracker Barrel). The total development will include
=OF restaurant pad sites and other uses. Construction is scheduled to begin In early
1998.
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Transmittal Letter (continued)
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Major Initiatives
The City experienced tremendous growth in the early 1980s. In 1987, property
values increased by 26% percent over the prior year's values. Such rapid growth placed
considerable demand on the City's labor, equipment and Infrastructure, Resources were more
readily available when property values were high, and demand for services was met by increased
allocations in almost every area of City government. Unfortunately in 1989, property values
stopped increasing and growth slowed significantly which limited resources, while the demand for
services remained high. Managers struggled to maintain the same level of services while
stretching decreasing resources as far as possible. The economic environment in the early 19905
made budget preparation very difficult. For example, In 1992, managers were asked to reduce
their budgets by two percent. Budget preparation continued to be challenging in 1993-94, which
could be classified as a maintenance budget, only marginally addressing pent-up demand from
previous years. Though there was considerable optimism that economic recovery was just around
the corner, in 1993 property values continued to decline,
Some relief came in 1994 when the 1994 total assessed value of the appraisal roll
Increased five percent over the prior year. In addition, the citizens of Denton approved a %C sates
tax to reduce ad valorem taxes In January of 1994. The increased property values plus the %C
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sales tax allowed the City Council to reduce the ad valorem tax rate by 25%.
The economic environment continued to Improve in 1995 and 1996. The 1995
certified assessed property value Increased 4% over the prior year, and the 1996 certified `
assessed property value Increased 4.7% over the 1995 certlfied value. This growth has allowed
the City Council to continue addressing the tremendous backlog of capital and other one-time
needs postponed over the past few years due to the lack of resources, as %.all as meeting a
number of ongoing needs.
Some of the major initiatives in the 1996.97 fiscal year Include the implementation
of a long-range technology plan. In 1995, a long-range plan was developed to meet the
Information service needs of the organization. The plan addressed the need to replace the
technically obsolete hardware and software used by the City. The first prase of the plan that was
implemented In 1997 included updating the information infrastructur,' used throughout the
organization.
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In 1997, the City implemented the second year of a multiple-year plan to completely
address ell of the City's critical vehicle needs. A total of 56 City vehicles were replaced based on
the evaluation criteria that includes high maintenance costs, age compared to estimated economic
. life, and high mileage. In the future, as resources allow, the City will continue replacing all
necessary vehicles to ensure that the proper equ pmeni is available to provide quality services.
Facility renovation and improvement Continued in the 1996.97 fiscal year. A
number of improvements were made to various City facilities to comply with ADA requirements,
fix safety hazards, replace heating and air-conditioning units, and repair various maintenance
problems.
p City Hall in the Mall, an innovative approach to service delivery, was opened to 0
provide major customer-oriented services in a highly accessible location (Golden Triangle Mall),
The City Hall in the Mall office serves as a community polio, office and convenient location for
citizens to pay utility and tax bills. Conference rooms are also available for public use. The
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I Transmittal Letter (continued)
success of the City Hall in the Mall Indicates a positive reception by citizens toward the enhanced
customer service.
For the second consecutive year, major resources were allocated toward public
safety. Enhancements Included the addition of a full-time, bilingual position to Initiate, facilitate,
and promote available services to the Hispanic community; the addition of a juvenileldo„iestic
violence investigator; and the addition of two civilian duty officers and one property technician.
Also added In 1997 were three new dispatchers to operate the City's emergency dispatch function
I for the police and fire departments.
Finally in 7995, the City Council appointed a Blue Ribbon Committee, comprised
of fifty citizens, to review the capital needs of the City and to prepare a five-year plan for a bond
program. After long hours and diligent work, the Blue Ribbon Committee developed a plan that
was presented to the Denton citizens for their approval In February 1996. The election results
reflected overwhelming support for the five-year program as presented by the Blue Ribbon
Committee, The 1998.97 General Government Capital Improvement Pion (CIP) which totaled
$14.484 million included $,675 million for drainage projects, $.750 million for park projects, and
$13.059 million for transportation projects. The Utility Departments (Electric, Water, and
Wastewater) continue their CIP program to replace necessary items within the Utility system.
{ FinancJol Information
The management team of the City Is responsible for establishing and maintaining
I an Internal control structure designed to ensure that the assets of the City are protected from loss,
theft or misuse and to ensure that adequate accounting data are compiled to allow for the
preparation of financial statements in conformity with continued generally accepted accounting
principles. The Internal control structure Is designed to provide reasonable but not absolute
assurance that these objectives are met. The concept of reasonable assurance recognizes that
11) the cost of the controls should not exceed the benefits likely to be derived, and, 12) the
valuation of cost and benefits requires estimates and judpments by management.
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Supple Audit
As a recipient of federal and state assistance, the City also Is responsible for
ensur!ng that an adequate internal control structure is in place to ensure compliance with
applicable laws and regulations related both to the state and federal programs, This Internet
control structure Is subject to periodic evaluation by management and the outside auditors of the
City's financial statements. As a part of the City's single audit, tests are made to determine the
adequacy of the internal control structure Including that portion related to the federal financial
assistance programs, as well as to determine that the City has complied with applicable laws and
regulations.
The result of the City's single audit of the fiscal year ended September 30, 1997
` provided no instances of material weaknesses in the internal control strurture of reportable
violations of applicable laws and regulati;ns, a
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Transmittal Letter (continued)
Budgeting Controls
The City maintains budgetary controls to ensure compliance of legal provisions "
embodied in the annual appropriated budget approved by the City Council. Artivities of the
General Fund, Special Revenue Funds (Recreation Fund, Police Confiscation Fund, and Emily
Fowler Library Fund only), Debt Service Fund, the Enterprise Funds and the Internal Service Funds
lexchuding Risk Retention) are Included in the annual operating budget. Projected financial plans
are adopted for the Capital Improvement Funds. The level of budgetary control (that is, the level
at which expenditures cannot legally exceed the appropriated amount) is established by frmction
activity within an Individual fund. The City also maintains an encumbrance accounting system as
one technique of accomplishing budgetary controls, and a technique of budgetary "lock out" which
will prevent a transaction from exceeding legally appropriated budgetary amounts.
As demonstrated by the statements and schedules Included in the financial section
of this report, the City continues to meet its responsibility for sound financial management
General Governmental Functions
The following schedule represents a summary of General Fund, Special Revenue
Funds and Debt Service Fund revenues for the fiscal year ended September 30, 1997 and the
amount and percentages of increasel(decrease) in relation to prior year amounts. The amounts
in thla schedule are expressed in thousand of dollars.
Increase
Percent of (Decrease) 9i, of Increase {
Revenues Amount Total from 1996 (Decrease)
Taxes $24,571 60,29 87,988 8,80 II
Licenses and Permits 522 1.28 (51) (8,901
Franchise Fees 6,593 16,18 526 8.67 f
Fines and Forfeitures 1,849 4.54 275 17.47
Fees for Service 2,101 5.15 253 13.69
Interest 745 1.83 (69) (8.48)
Intergovernmental 3,274 8.03 (101) (3.11)
Miscellaneous 1,102 2.70 11,231) (F2.76)
TOTAL $40,757 100.00% 511590 1,56
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The most significant increase In General Fund Revenues from a continual source
was in the fines and forfeitures revenue category. This increase is attributed to an increase In
enforcement efforts, traffic officers, and deferred adjudication.
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The most significant decrease in General Fund revenues from a continual source
was In the miscellaneous category. This decrease was attributed to an accounting reclassification O 0
of hotellmotel tax.
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The following schedule presents a summary of General Fund, Special Revenue
Funds, and Debt Service Fund expenditures for the fiscal year ended September 30, 1997, and
the percentage of increase/Wecrease) in relation to prior year amounts. Once again, the amounts
stated in this schedule are expressed in thousands,
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Transmittal Letter (continued)
Increase % of
I Percent of (Decrease) Increase
Expenditures Amount Total from 1996 (Decrease)
Current:
General Government $11,989 28.41 $ 378 3.26
I Public Safety 15,379 36.44 1,427 10.23
Public Works 5,040 11.94 644 14.65
Parks and Recreation 3,698 8.76 353 10.55
Capital Outlay 1,188 2.82 119 11.13
Debt Services:
Principal 3,532 8,37 (18) 10.51Y
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Interest and Fiscal Charges 1,374 3.26 (371 (2.62) I
TOTAL $42,200 100.00% $2,866 7,26%
The most significant increase in General Fund expenditures is in the public works
category. This increase Is attributed to one-time expenditures for street maintenance and
equipment replacement.
The most significant decrease in General Fund expenditures was in the interest and
fiscal charges area. This decrease was due to a continuing decrease of interest costs resulting
from the refunding of bond issues in 1993.
General Fund Balance
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The fund balance of the General Fund increased by 14.4% in 1997. The fund
balance provides the City with an average of 49 working days of expenditures. However,
1 $693,184 of the balance is reserved for encumbrances, and 1144,744 is designated for
subsequent years' expenditures.
s Proprietary Operations
I £nterprise Operations
The City's Enterprise Operations consist of a utility system which provides for
electric, water and wastewater services. The Enterprise Operations also include solid waste
services for residential, commercial and landfill operations.
There was no change in residential or commercial electric rates. For an average
residential customer using 943 kwh per month, the bill would remain at $74.09.
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Transmittal Letter (continued)
In the Water Fund, there was no change In retail rates. Therefore, for an average
residential customer using 8,500 gallons per month, the bill remained unchanged at $31.65 per
month. Wholesale rates Increased by 1.56%.
There was no Increase in Wastewater rates for 1996.97. The average residential ,
wastewater bill remained at $21.61 per month,
There was no change In the Solid Waste residential rates. Commercial rates
Increased overall by 13.0%. As commercial solid waste cost depends on many different factors,
lncreares in customers' bills varied. Dumpster rates increased by 16.7%, open top containers
Increased 8.1%, and compactor rates increased by 5.7%. Rates for customers outside the city
increased 4.6%.
Internal Service Operations
The Internal Service Operations consist of the Warehouse, Fleet Services, Motor
Pool, and the Risk Retention Funds. The Warehouse Fund accounts for the financing of goods
provided by the Warehouse to other City departments. The Fleet Services Fund accounts for the
financing of goods and services provided by the Municipal Garage to other departments within the
City. The Motor Pool Fund is responsible for the purchase of City vehicles not budgeted In other
funds. The Risk Retention Fund accounts for the accumulation of resources for the payment of
workers compensation, general liability claims and insurance policies.
Fiduciary Ope ations
Expendable Trust Fund
The Expendable Trust Fund accounts for several small trust funds which are varied
in purpose.
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Agency Funds
The Agency Funds consist of Payroll, Deferred Compensation, and Other agency
funds. The Payroll Fund is responsible for the collection and payment of the City's payroll and
associated liabilities. The Deferred Compensation Fund accounts for City employees' Investments
In a deferred compensation plan. The Other agency funds account for various accumulations of
employee funds.
Debt Administration
At September 30, 1997, the City had $24,791,730 In General Obligation Bonds
outstanding, $31,241,203 in a Note Payable to the Corps of Engineers, $12,639,954 In
Certificates of Obligation and $83,890,001 of Utility System Revenue Bonds, The City has
maintained an "At' rating from Moody's Investor's Service, Inc., and an "AA-" rating from
Standard and Poor's Corporation, on its General Obligation Bonds. Utility Revenue System Bonds
have maintained an 'A+' rating from Standard and Poor's Corporation while Moody's Investors
u Service, Inc. upgraded Denton's revenue bonds from 'A' to 'A1 " in March, 1993.
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Transmittal Letter (continued)
As was mentioned earlier, the City has developed a plan for Issuing annual General
Obligation Bonds that were approved by the voters In a capital improvements plan. The
Certificates of Obligation are used for short-term construction projects and financing motor pool
l.ehicles, other equipment and landfill.
E Cash Management
I The City follows an active program of cash management, keeping all temporarily
idle funds In Interest bearing accounts. These accounts are in the form of NOW accounts,
certificates of deposits, local Government Investment Pools, Treasury Issues and Federal
I government agency Instrumentalities. On September 30, 1997, the annualized yield on
Investments was 5.99%, compared to 5.96% and 5.77 % for the same period In 1996 and 1995 1
respectively. Investable funds as of September 30, 1997, were $129.7 million, which Is an
Increase from $121.8 million In 1996 and $107 million in 1995. The longest investment maturity
has been lengthened from 58 days in 1987 to 1,158 days In 1997. The City's Investment policy
Is to maximize yield with a minimal amount of risk. Accordingly, all of the City's deposits are
either Insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan
Insurance Corporation, or are collateralized by governmental securities. All collateral for deposits
Is held by a third party financial institution's trust department In the City of Denton's name. The
Investments of the Deterred Compensation Fund In which the City participates are held separately
from those of other City funds by an outside trustee appointed by the City. State statutes
authorize the City to invest in obligations of the U.S. Treasury and U.S. agencies, obligations of
the State of Texas and related agencies, repurchase agreements, investment pools, and municipal
securities of any state rated 'AA' or above by a nationally recognized rating service.
Risk Management
'The City has maintained a very aggressive program to increase safety awareness
and training, Incentive programs, temporary alternate duty, medical case management, and the
Implementation of an Occupational Health clinic with a full-time Occupational Health nurse should
contain Workers' Compenwior xpenditures growth in the future. Legal expenditures for general
liability issues have increo., . steadily over the past three years and are anticipated to continue
during the upcoming fiscal year,
Workers' General Program
• Comoensation Liability Cost Transfer
FY '97-98 Projected $1,170,000 $621,000 $1,791,000 $75,000
FY '46-97 Actual 369,155 287,746 656,901 75,000
The City purchases property insurance and Public Official's Liability Insurance from
commercial carriers; all other exposures are self insured under the Risk Retention Program.
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Transmittal Letter (continued),
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Independent Audit
The City Charter requires an independent audit of the accounts of the City by an
independent auditor. The eccounting firm of Deloitte & Touche LLP was selected by the City
Council to perform the annual audit. In addition to meeting the requirements set forth In the City
Charter, the audit was also designed to meet the requirements of the Single Audit Act
Amendments of 1996 and related OMB Circular A•133.
Awards
The Government Finance Officers Association (GFOA) awarded a Certificate of
Achievement for Excellence in Financial Reporting to the City for its Comprehensive Annual
Financial Report for the fiscal year ended September 30, 1996. In order to be awarded the
Certificate of Achievement In Financial Reporting, the City published an easily readable and
efficiently organized comprehensive annual financial report. This report satisfies both generally
accepted accounting principles and applicable legal requirements. The Certificate of Achievement
Is held for a period of one year only. We believe that our current Comprehensive Annual Financial
Report continues to meet the Certificate of Achievement requirements and we are submitting it
to the GFOA to determine its eligibility for another certificate,
The City also received GFOA's award for Distinguished Budget Presentation for Its
1996 annual budget. In order to qualify for the Distinguished Budget Presentation Award, the City
budget document was judged according to its compliance with specific guidelines established by
GFOA. These guidelines help ensure that Denton's budget Is distinguished as an operations guide,
financial plan, policy document, and communication device. The City has submitted its 1997
budget to GFOA to determine its eligibility for another certificate. We believe that it continues to
meet the Distinguished Budget Presentation Award criteria, I `
Acknowledgments
t would like to thank all of the Finance Department staff, the department directors
and division heads for their diligent efforts In the preparation of the annual financial report. A
tremendous amount of time and effort went into the development of this report, especially by the
Accounting staff. I would also like to thank the City Council. It is their strong leadership and
ti faithful support of the City that helped make the presentation of this report possible. i
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Kathy~8ose, CPA Kris n W. Newman, CPA
Assistant City Manager of Finance Controller
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I I I I l I k I E i f I[ i! f i l i 4! 3 i r!
CITY OF DENTON ORGANIZATIONAL CHART
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I~
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Denton,
Texas
For its Comprehensive Annual
Financlai Report
for the Fiscal Year Ended ` l
September 30, 1996
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems tiahose comprehensive annual financial
reports (CAFRs), achieve the highest
standards in government accounting
and financial rep-jrting,
President
Etecuu,e Director
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CITY OF DENTON
List of Principal Officials
September 30, 1997
i
ELECTED OFFICIALS
TWO Name
Mayor Jack Miller
Mayor Pro-Tom Eulins Brock
Councilmember Roni Beasley
Councilmember Mike Cochran
Councilmember Neil Durrance
Councilmember Sandy Kristoferson
Councilmember Cart G. Young, Sr,
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CITY OFFICIALS
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Title _ Name
City Manager Ted Benavides
Deputy City Manager Rick Svehlo
Assistant City Manager of Finance Kathy L. Dugose
Assistant City Manager of Utilities R. E. Nelson
Assistant City Manager of Operations Mike Jet
• City Attorney Herbert Prouty
Municipal Judge Robin Ramsay
City Secretary Jennifer Walters
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# Deloitte &
Towle w 1 /1 CityC'enterTowor11 Teiephone 18171347-3300 ,
` Suae 2950
301 Commerce Street
I Fort Worth, Te xas 76102
i
INDEPENDENT AUDITORS' REPORT
The Honorable Mayor and Iv(embers of the
of the City Council
City of Denton, Texas
We have audited the accompanying general purpose financial statements of City of Denton. Texas
("City"), as of September 30, 1997, and for the year then ended, listed in the foregoing table of
contents. These general purpose financial statements are the responsibility, of the management of the
I City, Our responsibility is to express an opinion on these general purpose financial statements based
on our audit.
We conducted our audit in accordance with generally accepted auditing standards and the standards
applicable to financial audits contained in Government Auditing Standards issued by the Comptroller
General of the United States, Those standards require that we plan and perform the audit to obtain
` reasonable assurance about whether the general purpose financial statements are free of material
I misstatement An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the general purpose financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audit provides a reasonable basis for our
i
opinion.
In our opinion, such general purpose financial statements present fairly, in all material respects, the
financial position of the City at September 30, 1997, and the results of its operations and the cash
nows of its proprietary fund types for the year then ended in conformity With generally accepted
accounting principles.
Our audit was conducted for the purpose of forming an opinion on the general purpose financial
statements taken as a whole. The combining and individual fund and account group financial
statements and schedules listed in the foregoing table of contents, are presented for the purpose of
additional analysis and are not a required part of the general purpose financial statements of the City.
These financial statements and schedules are also the responsibility of the management of the City.
Such addi6ot,al information has been subjected to the auditing procedures applied in our audit of the
general purpose financial statements and, In our opinion, is fairly stated in all material respects when t
considered in relation to the general purpose financial statements taken as a whole.
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D810RUTalCtfa
Tt> MIllu
~ Ir~ernatlonal
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a~muee .
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The statistical data on pages 123.150 are presented for the purpose of additional analysis and is not a
required part of the general purpose financial statemems of the City. Such additional information has not
been subjected to the auditing procedures applied in our audit of the general purpose financial statements
and, accordingly, At express no opinion on it.
In accordance with Government Auditing Standards, Ne have also issued our report dated January 9,
1998, on our consideration of the City's internal control over financial reporting and our tests of its
compliance with certain provisions of laws, regulations, contracts, and grants.
(DJ.W~
Janus 9, 1998
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I CITY OF DENTON, TEXAS
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CanpraAmifw Annul FinandM Rspat
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CITY Of DENTON, TEXAS
COMBINED BALANCE SHEET • ALL FUND TYPES AND ACCOUNT GROUPS i
SEPTEMBER 30, 1997
I
Cewrrvnemof Fund Types
gave
A64ET6 AND OTHER DIMT6 Congeal Special Revenue Debt Service Capital Projects
Cub end deposits (Novo 21 9 227,147 9 662,260 1613,222 6 1,003.440
Investments INote 2) 71987,487 767,686 99.778 10,017,619
Receivables (net of allowances for uncollectlbhe0-
Tares 1,042,885 .
ACcounta
Unbill9d utility service
Accrued Interest 41,036 13,521 880 109,950
Other 676,369 143,617 1,04) 79,060
Due from other funds Wove 111 421,941 49,368 952,450 '
Due from other govanmeMS 679,906 - 19,109
a i
Merchardiso inventory
Prepaid items
Oe}emd bond Issuance coats
Restricted seets
Cash and dpoalts Wove 21
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investments INato 11
Accrued interest t
Accounts receivable '
Due from other funds
Advance to other funds
Fired eeeete (net, whore applicable,
of eccumulsted depreciatlon) INote 11 '
. Amount available in Debt Service Fund
Amount to be provided for retirement
of long farm 9ebilitiee
Total Assns and Other Debits 110,d92,687 12.155,289 4716,005 112,150,647
IContinuedl {I
• The eccompanylnq note to linancial statements are sn integral pert of this etstoment. O •
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Comgtahentlve Anti Wisncid Milli -
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{ CITY OF DEWON, TFXAS
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Fduaisry Fund Totals
I Fropdetsry Fund Typa Type Account Groups IMemor■ndum Ordyl
Trust and Goi,ersl Fixed 0e66rel Long- September 30, September 30,
Emorodso Imemsl SonAce Agency Mats Term Usbdides 1997 11N
f 202,703 1 311,121 13,199,557 t 1 f 6,949,659 6 12,605,360
2,289,923 943474 22,106,077 23,826,958
I 1, 042,195 1,014,160
91005,239 97 5,005,335 5,076,964
1 6,776,340 6,775,340 5,662,608
700,050 169,939 1,062,257 1,508,349
1,125,261 33,067 7,639 2,063,993 1,401,071
325,341 211,337 1,860,484 12,193,522
661016 957,979
722,419 2,092,315 2,604,734 21701,354
• 1,174 1,174 183,895
1,139,796 1,129,716 1,221,326
5,763,131 140,310 6,923,721 3,583108
96,939,614 9,534,177 106,473,791 11,361,756
345,197 345,297 357,012
1,168.748 1,166,746
• 8,102,771
3,781,714 3,781,714 4,131,784
r~ 111,199,519 7.121,796 116,604,111 306,933,132 291,194,213
. 504,750 1504,760 682,191
30,636,590 30,926,690 29,373,310
(201,303,3!2 920,976,814 13,907,116 1118,604.821 831,341,350 4509,246,441 8416,361,665
aeeseee~s
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Compre7renslye Annual Flnendel Report
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MORAL MMIMIL-MA1112-
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CITY OF DENTON, TEXAS
COMBINED BALANCE SHEET • ALL FUND TYPES ALD ACCOUNT GROUPS (Continued)
SEPTEMBER 30, 1997
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Governmental Fund Types
LIABILITIES, EQUITY AND OTHER CREDITS General Special Revenue Debt Service Capital Prcos is
I ~
Usb3itwo:
Acc ou ms psysble and accreed" nll;Uas 41,438,261 0 190,763 1 01,577,060
Retal"go payable 46 62,212
Aceunwleted unpa • < Qantate abanen
(Note 41 '
Dapowto 66,833
Payable from restricted nuts
-
Accounts payable and accoued expenses
Ratainags payable .
Accrued interest
Revenue and gensrsf obligation bonds
payable, current (Note 4) -
Accrued Interest
Due to other lunch Nolo 11) 1,032,032 5,901 2,055 270,722
Other fisblhi os 20,615
Advances from other funds -
Deferred row must 69,161 266,941 211,190 42,174
Losses payable INotee 4 end SI -
Gemersl obligation bonds payable (Note 41
Certificates of obligation INcle 41
Revenue bonds payable Inet of bend discount)
(Note 4) -
Claims payebte (Note 6) -
. Notes payable (Note Il '
Landfill closurdpostcloeure costs (Note 13)
Total liabilities 62,706,430 11,121,450 1220,245 61,063,120
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IContlnusdi I
The accompanying notes 10 fnanclol statements its an Integral part of We sbtemem.
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Comp6h6n31v9 Annuel Manciel Report
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CITY OF DENTON, TEXAS
Fiduciary fund Touts
Proprietary Fund Typss Types Account Groups (Memorandum Only '
Trust end General Fixed General Long- September 30, September 30,
Entarpriss Internal same$ Agency Assets Term Usbllities 1917 1996
f 1 1,27<,664 11,615,171 13,199,751 1 / 9 16,769,511 6 10,330.146
11 e:.111 60.1.9
760,1$1 29,935 3,716.207 4,574,963 4,420ASS
1,196.424 1.256,307 1,164,321
I
296,109 296,109 142,051
1,691,976 1,996,976 1,910,469
8,011,661 6.011,661 619091632
22,491 22,491 22,674
394,372 146,312 1,160,464 31,096,301
29,945 2,662
3,741,114 3,711,714 1,131,713
• 611,411 647,999
• 28,270 21,270 119,914
430,171 72,900 24,267,951 24.711.730 22,140,341
7,267,011 1,341,025 3,261,111 12,001,293 13,116,641
71,510,001 - 71,510,001 13,110,001
1,017,017 1,017,027 2,625,412
r 31,241,203 31,141,203 31,113,459
1.424,390 _ 1,414,320 21900,561
• 1140.402110 44,247,201 13,891,7S7 1 131,341150 1I96.003,411 1207,623,!71
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Comprehensive Annual Financial Moppet
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CITY OF DENTON, TEXAS _
COMBINED BALANCE SHEET • ALL FUND TYPES AND ACCOUNT GROUPS (Concluded)
SEPTEMBER 30, 1997
Governmantal Fund Types
UAUUTIES. EQUITY AND OTHER CREDITS General special Isevenus Debt SeMce Capita Projects
Fund Equity,
Contributed capital • (net, where applicable
of scoumulated depreciation) ( - 1 1 1
Investment In penerel fixed assets (Note 31 '
ReWned sarnings
Reserved for bond redesmmt (Note 4)
Rasomed for capital projects '
Reserved lot flast replacement
i
Reserved lot landli6 retirement
Reserved for debt r0rsment -
Reserved for dumpstat teptscement
Reserved for rate s+abiliaton
Reserved lot working capital `
Reserved for amsrpeney -
Mssmsd for water lower -
Reserved for lnfraetrucwre financing '
Reserved lot conLeparwy
Reserved for future claims - -
i
Reserved lop cspilal construction
Reserved fop suthorired eapand4ura
Unreserved
Fund balances •
Reserved for debt fordo 504,760
Reserved for encumbrarmae 691,114 635,s61 672,60!
Reserved for capital projects P,274,925 ,
Unreserved • '
Designated foi 3ubeequsm
yore' expend.tura 144,744
Undealgnated 6,136,50E 499,270
telot Equity and Other Crediu 7,776,437 1,033,129 504,760 10,117,927
Trial OtNr her crkquity
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0lCradlta 110,462.667 {l,1S5,29! 11715,005 $12,160,641
end
`)r The occompanyln6 wis to finarwlst stetemante aie an Integrei Pert of thie etetemenl.
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Con+pfehansive Annual Financial RapM--
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Fdwoiery Fund Totals
Piopistary Fund Types Types Aneount Groups 1Memotandum Orgy) +
a~~e
Trust and General Fixed Gansrrl ton/ Ssptsmbsr 30, September 30,
I Enterprise internal Serdoa Agency Assets Term I.+bilin; 1197 1996
I 1 14,076,477 11,210,656 1 1 1 1 15,3!6,1!3 6 16,221,310
tU,604,121 111,604.121 101,661,744
12,646,145 12,646,145 12,102,157
I 16, 34!,643 140,370 15,411,012 17,446, 230
{ 5,416,3l9 6,416,710 6,421,012
E 650,975 650,976 466,975
367,100 367,100 207,100
75,000 75,000 76,000
65,350,000 $5,350,000 45,132,000
2,309.000 2,309,000 21162,000
6,17b,000 5,715,000 5,314.000
760,000 760,000 560,000
2,000,000 2,000,000 1.610,000
700,000 700,000
4,104,791 4,104,797 3,170,531
1,050,000 1,050,000
13,000 11,000 12,000
66,799.472 6,243,470 12,142,942 62,349,404
604,760 662,141
• 2,041,355 1,159,725
r
9,374,125 7,502,073
s ~
144,744 144,744
• 1,444 7,444.223 7,621,625
167,191,612 16,221,673 1,444 111,604,92t 322,243,013 211,430,109 1
Q 6306,303,392 120,515,374 13,107,116 1116,604,121 131,241,350 1501,246,441 141/,354,916 Q Q
..aer>sasa~.
Corr p lhon11v6 Annual Flnaneial Ropat -
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--CITY OF DENTON, TEXAS
COMBINED STATEMENT OF REVENUE5, EXPENDITURES AND CHANGES IN FUND BALANCES
AtL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND
FOR THE FISCAL YEAR ENDED SEPTEMBER 30. 1997
Oa u,vnmir Fund TYp"
D4nard 600;w R4vo,uo Debt service camid Prg4eb
RE ME&
Taw 419.417,320 1 690.141 14,393,08/ 4
Ucen4w .,d ponr4b 121,647 j
Frmcld" f"4 9,192,694
Mw " Wohwee 1,149,062
I,
Few foe 4mdcw 1,312,826 MAD
Intor"t rov"uo 610,619 63,504 499 445,361
Nbryevurvn4ntol 661,851 2.80.020 87,288
Conpelmlon4
Matallonsourr M.350 534,1187 165,112 641,193
Totol Rarum44 31.S01196 4.699,47S 4.641,709 1.060642
WENOrrURIC
Cwr4nt •
Omer41 Oovemrnent 1.714.807 3.214.206
Pub8c 4414ty 14,667,747 511,610 .
Pw56e *WkS 6.038.015 2.450
Par1w and recr4ot'on 2,980.631 716.949
camel outlay $91.416 594.257 9.920.!09 II
Debt lemic4 •
Principal wilomom 3.632.417
1nt4rwt and raced chary" 1.313.606
iw41 E.perwitwoo 32.254.918 6,019367 4,904,023 9,9",209
EXCESS OF REVENUES OVER IUNDEIII EXPEN017URES 1749.2701 1319,8921 13572641 14,159,8671
OTHER MAKING 0 ARCE1 IU6E11
w Proudc of long turn d45t 4,100000
Opwvt;ny troalu4 in 3.026,502 237.011 179.141 2,392,672
Opu4liq trmcfar4 out, 111303,4501 1436.101; 15921
1ot41 Other Fivocin9 5"co4 IUm,I 1,722,052 it 119, 3341 179841 7, 092.080
MISS OF REVENUES ANO OTHER SOURCII
OVER IUNDEN LXPENOtTUREB AND OTHER USE$ 176.632 1329,226; 1177,4071 2,232,413
FUND BALANCE • Odo64r T 1.800.605 1,563.085 662,167 7,951,114
FU NO IALANCE• 24pteml»P 30 1 7,718,437 $1,031,139 9 504,180 9/0.111,521 0
The 4ce"myho eunw to fnmc;d ItROrnnt4 are on W , A port .f !hit tte4nant.
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C6mp6Mn9Nr1 Annul FinlnaENtl R9pat
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CITY OF DENTON. TEXAS
TK~N
FIdu414ry Fund IMrn WA ONO
TYFw Yea &Jed
rmo
Exp"a61.
Tmat 54yuinba 30, 1997 OW "W 30, 1990
1
6 174.171,299 177.603.799
• 671.017 672.670
1,592,091 9.007.719
1,949067 1,174,060
~
9101.04 I'm 307
I
1.799.973 7,176.038
f 3,341.107 3.640077
E 78.331 79.331 71131
• - 1050137 7,023 407
11.331 41.846.113 40.41e.113
37.710 17.070.795 11,060,763
16,379.757 13,961,787
6,040,466 4,396.301 1
I
• 3.097,617 3.344 122
• 1,107,178 9.765.051
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• 3,532 417 0.64.616
7,313,000 1,411.111
37.780 18.117.495 43,669,703
N,1491 16,311.9171 13,147.4101
,
' 1700.000 2.709000
. C835 Ogg 1.141,701
I
11,130.41101 1031, 4111
1,904,043 3,013.914
Is 0491 7.47.003 411,399 I
18.313 77.077,344 16,145,000
• ~rl 1.44 511,$70,007 617,011,341 Q
Compr1A9n61v/ Annual Flnenelel F,epoel
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CITY OF DENTON, TEXAS
COMBINED STATEMENT OF REVENUES, EXPENDITURES ANDCHANGES IN FUND BALANCES - BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE RECREATION, POLICE CONFISCATION, AND EMILY FOWLER LIBRARY FUNDS, AND
DEBT SERVICE FUNDS (BUDGET BASIS)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
General Fund
Variance
Favorable
Budget Actual (Unfavorable)
REVENUES:
Taxes $18,781,576 119,497,320 1 735,744
Licenses and permits 417,810 621,642 104,032
Franchise fees 4,657,039 6,592,694 1,9351555
Fines and forfeitures 1,709,980 1,849,082 139,122
Fees for services 1,105,219 1,372,826 167,607
Interest revenue 720,000 680,619 139,381)
Intergovernmental 630,952 581,854 149,098)
Miscellaneous 695,606 412,359 1183,1471
Total Revenues 28,697,662 31,606,395 2,810,534
EXPENDITURES:
Current -
General Government 9,011,841 8,604,186 407,555
Public safety 14,881,632 14,651,911 29,621 j
Public works 5,132,893 4,995,139 237,764
Parks and recreation 3,025,683 2,979,339 48,347 j
I
Capital outlay 637,113 656,305 82,408
Debt service -
Principal retirement
interest and fiscal charges
TotatExpenditures 32,689,662 31,885,977 803,685
EXCESS OF REVENUES OVER IUNOER) EXPENDITURES 13,991,8001 1377,5811 3,514,219
OTHER FINANCING SOURCES (USES)
® Operating transfers in 2,999,962 7,025,602 25,540
Opertling transfers [out) 11,303,4501 11,303,450i
Total Othar Financing Sowess (Uses) 1,698,512 1,722,052 26,640
EXCESS OF REVENUES AND OTHER SOURCES OVER
(UNDERI EXPENDITURES AND OTHER USES 12,295,288) 1,344,471 3,639,159
FUND BALANCE • October 1 6,000,209 6,861,363 681,164
FUND BALANCE • September 30 1 31704,921 1 8,209,634 1 4600,413 0
The accompanying notes to financial slNements art an integral part of this statement.
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Comprehen lvs Annual fln"al Ripon
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Special Revenue Recreation, Police Confiscation,
and Emily Fowler Library Funds Debt Service Fund
I Variance Variance
Favorable Favorable
Budget Actual (Unlavorable) Budget Actual (Unfavorable)
1 1 1 14,393,098 44,393,088 1
698,431 671,465 126, 9651
6,000 16,977 10,977 469 489
61,750 79,358 27,608 131,709 155,192 23,483
756,181 787,801 11,620 4,524,797 4,648,769 23,972
39,965 38,928 1,037
26,400 26,400
605,718 605,892 11141
118,735 49,381 69,348
3,657,272 3,532,417 124,855
1,422,273 1,37.1 708 48,657
790,878 694,207 98,611 6,079,545 4,906,023 173,522
1 (34,6971 73,594 108,291 1554,748) 1357,254) 197,494
I 15,704 16,704 179,847 179,841
(43,317) 131,317} 12,000
(43,317) 115,6131 27,704 179,847 179,847
178,0141 57,981 135,995 074,9011 1177,407) 197,494
A 128,0201 152,745 175,765 1428,8761 682,161 1,111,142 0
1. ; I 1;104,0341 1210,728 1314,760 ~ 1 1803,876) 1 504,760 11,308,838
-13• I
Ctxnprarmslw Annual iinanclal Report -
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CITY OF DENTON, TEXAS
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS •
ALL PROPRIETARY FUND TYPES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Proprietary Fund Types
_ Enterprise Iniernal Service
OPERATING REVENUES:
Electric service 9 72,048,616 e
Water service 14,700,321
wutsweter service 9, 880, 007
Charges for goods and servlcss 7,666,758 7,094,637
Premiums 6,674,780
Misce9enaous 178.493 1.696
Total Operating Revenues 104,383,896 12,671,013
OPERATING EXPENSES:
Purchased power 30,046,081
Fu 6,797,386
Purchase of water, 77,227
Salaries and wages 11,908.079 691,261
Materlsls and supplies 11852,379 3,913,712
Maintenance end repairs 3,610,688 23,640
Depreciation 7,187,167 1,666,009
Insurance 4,104,704
Administrative cost 5,168,272
ClowrelPOalciseurs cost 118.764
Miscellaneous 6,332,017 883,211
Total Operating Expenses 84,907,266 11,481,107
Operating Income 19,476,639 1,189,218
NONOPERATINO REVENUES !EXPENSES!:
Interest revenue 6,720,216 666,616
Interest expense and fiscal charges 16,726,9001 1100.1961
Ot1ur 1,533,290 316,426
Total Nonopateting Revenues (bilaneas+ 11626,666 $82,746
lnoome tafore Operating Trar,slsts 21,003,306 2,071,062
OPERATINO TRANSFERS IN {OUTh
Operating transfer in 45,168
. Operating transfers (out) 13,096,289) !163,6211
Total Operating Translate 13,096,2191 1108,3661
Net Income 17,007,016 1,01
Add: r4wirclatian of Fixed Antis seguIred wnh Contributed Capital 1,866,923 375,096
Incresu in Retained Earnings 10,572,939 2,336,702
RETAINED EARNiN6S • October 1 134,051,096 12,610.316
RETAINED EARNINGS -September 30 1163,824,036 116,018,017
•
Ths eccompanving notes to fitwclsl statements are in Integral part of this statement. 1
14•
Compiallensive Annual Financial Report
910 32XI[i
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,CITY OF DENTON, TEXAS__
i
I I
' Totals
Wernonndum OW
I Year Ended ,
September 30, 1907 September 30, 1990
8 72,046,616 1 60,533,160
14, 700, 321 16,328, 606
0,680,807 9,0071656
14,601,205 13,417,907
5,674,780 4,600,478
I 160.169 120609
111.064,906 113,006,626
39,946.067 41,460,061 +
6,707,366 6,981,645
77,227 60,200
l 12,699,340 12,115,697
` 6,776,001 6,450,019
3,634,728 4,012.550
0,052,176 8,412,740
4,104,704 3,636,967
61168,272 0,405.707
118,764 254,302
6,215,288 6086106
66,389,053 05,945,414
20,845,865 16,161,031
6.380,002 0,006.368
16,827,0061 (7,111,040)
1,940,706 175.680 j
2,400,412 (1,319008)
23,we'2b7 14,641.033
M1
49,166
(4,140,013! (008,6141 {
14,104,045) (908.6141
18,970,622 13,033,119
1
2,241,010 2,104,935
21,211.15411 10,038,064
_ 147,030,411 131,602367
~ 1166.642,062 1147,830,11 I
0 ~
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ComprehenNve Anrwd FlneneW Report -
f, ry 75 x 10 32x Q
_ 1e.3.n6nd
Real
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CITY OF D-NTON, TEXAS
COMBINED STATEMENT OF CASH FLOWS
ALL PROPRIETARY FUND TYPES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Proprietary Fund TYpae
Fntarpriee Informal Service
Cash flows from opsreting activities:
Cash received from custo,nere 8110,647,924 $11,315,610
Cash paid to employees toe services 167,062,399) 1702,4011
Cash paid to supptoro (14,2494221 !13,172,150)
Net cash provided by operations 29,61603 1,441,068
Cash flows from nonaphat hunch) ectilklse:
Contributions to Float Replacement Fund 1299,088)
Operating transfers out to other funds 13,986,299) 1108,3561
Principal payment on long-term edvencas r+om other funds 0.050,000)
~I
Payment received on longterm advance to other funds 1,060,000
Contributions to others
Prornds from others 246,966 33,369
Nat ash fund tor) honcephal financing activities 14,049,421) t74,997)
Cash flows fran aephaf art:' related financing activities:
Proceeds received rrom contributed Capital 406,486
Principal payments on revenue bonds and catificales of obligation 18,909,6321 1394,6491 r
Interest end fiscal charges (5,927,963) 199,6411
Proceeds from issue of revenue bonds end certificates of obl.get,on
Proceeds from heue of note parable
Principal payments on notes payable 132.455)
Principal pe i•nenrs under capital Irate obligation 136,0951 (41,084)
Acquisition end construction of fixed assets 19,768,726) (2,290,674!
Proceeds from sale of fixed assets 263,067
Net ash Iund foil Capital and telated hunting octivII 121,268,6081 12,649,8201
Cash flow 9 from Inveasmg ectilwil s
Proceeds from sets end maturities of Investment securities 106,996,400 9,768,541
Purchase of Investment secuifles 1114,111,2031 18,603,782)
1•11erest received on invastmants 6,685,046 690,777
Nei ash provtdd by fused for) Investing octlvh)ns 12130,690 646,668
Net increase (decrseeet in cash and cash equivalents r 1,078,796 1637,263)
Co, If and ash squivalanls • October 1 A,309,269 Si
Cash and cash equivalents • September 30 If 5.986,054 1 461,499
(Continued)
The accompanying notaa to financial statsmants are an integral part of this statement. 0
•16•
Comptshanatve Annual Financial Report
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CITY OF DENTON, TEXAS_
I
ToWs
IMemorandum Only)
Year Ended
September 30, 1997 September 30, 1
1128,163,443 1103,869,270
(87,784.800) (156,708,162)
(27,42 2,0721 122,005,330)
30,968,571 26,142,776
11
I (299,0981 1167,877)
14,104,6461 (906,814)
1 11106010001 11,050,000)
1,060, 000 1,050.D00
f (8,2491
1 279,316 195,358
(4,124,418) (689,582)
406,486 2261,163
(6,304.4801 (5,090,4841
1 (6,027,624) 17.003,2201
44,260,000
282,360
132,4561 (33,905,0921
163,179) (223,834)
112,049,300) (13,310,938)
283,067 188.093 1
123,801,4861 (14,541,962)
114,654,017 87,311,280
1122,914,966) 003,923,7071
6,376,823 5,991,609
S 11,886,1161 110,620.8181 1
I, t 39.542 1909,584)
5,298,011 6,207,695
1 8,437,653 1 6.298,01 1
I
- - Comprafansive Annual Financial Rapart `
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CITY OF DENTON, TEXAS
COMBINED STATEMENT OF CASH FLOWS .
ALL PROPRIETARY FUND TYPES (Concludedl
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Enterprise Intemal Service
Reconciliation of proprietary Fund Operating Income 10 Net Cash
provided by Operating Activttlal
Operating income $19,476,639 $1,10,216
Adjustmeri
Depreciation expense 7,187,167 1,865,009
Loss (Gain) on sale of fixed asset 16,6881 638
Closure/Postclosure expense 1-18,754 - i
Decrease Increase) In receivables 12,301,517) 16,177
Decrease (Increase) in due from other funds 8,772,134 2,504,362
Decrease Ilncrease) in Inventories 219,077 1322,4571
Decrease (Increase) in prepaid items 1,836 179,747
Increase (Decrease) in accounts payable 3,989,119 1,131,495
increase (Decrease) in leases payable L
Increase IDecreasel in accumulated unpaid
compensated absences 32,837 111,1411
Increase (Decreast) in due to other funds 17,973,855) 13,603,513)
Increase (Decreasel in claims payable 11,508,465) k
Total adjustments 10,038164 251,652
J
Net cash provided by operating activities 129,515,503 it 1,441,068
Supplemental Schedule of Noncesh Capital and Rai Financing Activities
Noncash activity during the year consisted of contributed capital from contrartors and developers for the Enterp•ise Funds
and the Internal Service Funds in the amount of $1,325,802 and 1573,554, respectively. ,
s i
The accompanying notes to financial statements are an integral part of this statement.
Comprehenstva Annual Financial Report
25 111 32xI~
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I CITY OF DENTON, TEXAS
I
l Totals
(Memorandum Only)
Year Ended
September 30, 1997 September 30, 1996
J
i
I E
120,665,8 5 5 118,161,031
9,052,176 8,412,740
16,050} 8,401
118,754 2'4,302
(2,2 85, 3401 639,197
11,276,496 19,966,452)
1103,3801 619 237
181,583 1181,5831
5,120,614 1418, 4141
ff (12,376)
21,696 65,791
(11,577,3681 10,152,524
(1,508,4651 (771,620)
10,290,716 8,981,747
130,958,671 026,142,778
s
Comprshenefvo AmwA Financial Aspen
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CITY OF DENTON, TEXAS
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Comprohenilra Annual FlnanNal R*W
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4
CITY OF DENTON, TEXAS
NOTES TO FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED
SEPTEMBER 30, 1997
I
(1) SUMMARY 0° SIGNIFICANT ACCOUNTING POLICIES
The City of Denton ('the City') was incorporated September 26, 1866. The City operates as
a Home Rule City, under a Council-Manager form of government and provides the following services
as authorized by its Charter: public safety (police and fire), public works, parks and recreation,
f electric, water and wastewater utilities, solid waste, and general administrative services.
` The City is a municipal corporation governed by an elected mayor and six-member council.
The City receives funding from state and federal government sources and must comply with the
requirements of these funding source entities. However, the City is not included in any other
governmental "reporting entity," as defined in pronouncements by the Governmental Accounting
Standards Board i"GAW) Statement No. 14, 'The Reporting Entity," since Council members are
elected by the public and have decision-making authority, the authority to levy taxes, the power to
designate management, the ability to significantly influence operations, and primary accountability for
fiscal matters.
The accounting policies of the City conform to generally accepted accounting principles as
applicable to governments. The Governmental Accounting Standards Board (GASBI is the accepted
standard-setting body for establishing governmental accounting and financial reporting principles. The
following is a summary of the more significant policies:
A. Reporting Entity !E
The City is governed by an elected mayor and six-member council. As required by generally
accepted acccunting principles, these financial statements present the City (the primary government)
and its component units, which are entities for which the government Is considered to be financially
accountable. Blended component units, although legally separate entities, are, in vilostance, part of
the City's operations and so data from these units are combined with data of the primarygovernment.
fb A discretely presented component unit, on the other hand, is reported in a separate column In the
combined financial statements to emphasize it is legally separate from the City.
The City had no discretely presented component units at September ,10, 1997. At
September 30, 1996, the Denton Economic Development Board was considered W be a blended
component unit of the City. As funding for the Board failed to pass in a public election :Ire Board was {
dissolved. 1
I ~ I
B. Fund Accounting 0
yr The accounts of the City are maintained on the basis of funds or account groups, each of j
which is considered a separate accounting entity. The operations of each fund are summarized by
providing a separate set of self-balancing accounts which comprise its assets, liabilities, fund equity,
revenues, expenses and expenditures. The following funds and account groups are used by the City:
,21, I
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Notes, C;ty of Denton (Continued)
September 30, 1997
Governmental Fund Types
General Fund-
The General Fund is the principal fund of the City. All general tax revenues and other receipts
that are not allocated by law or contractual agreement to some other fund are accounted for in this
fund. From the fund are paid the general operating costs, the fixed charges and the capital
improvement costs that are not paid through other funds.
Special Revenue Funds-
The Special Revenue Funds are used to account for the proceeds of specific revenue sources
(other than special assessments, expendable trusts, or major capital projects) that are legally restricted
to expenditures for specified purposes. These funds Include the grants from the Department of
Housing and Urban Development (Community Development Block Grant) and from the Texas Criminal
Justice Division, Department of Education, the recreation fund and miscellaneous other revenues.
Lebt Service Fund-
The Debt Service Fund accounts for the payment of principal and interest on general long-term
liabilities, paid primarily by taxes levied by the City, and for the payment of principal and interest on
capital leases in the governmental fund types. '
i
Coral Projects Funds-
The Capital Projects Funds account for the acquisition of capital facilities being financed from
bond proceeds, contributed capital, or transfers from other funds, other than those recorded in the
Enterprise Funds and the Internal Service Funds.
Proprietary Fund Types
Enterprise Funds-
The Enterprise Funds are used to account for operations that are financed and operated In a
manner similar to private business enterprises where the intent of the governing body Is that the costs
(expenses, including depreciation) of providing goods or services to the general public, on a continuing
basis be financed or recovered primarily through user charges. These funds include the Electric, Water
• and Wastewater Utility Systems (Utility System) and the Solid Waste operations.
Internal Servhe Funds-
The Internal Servict Funds account for the financing of materials and services provided by one j
department of the City to other departments of the Clty on a cost-reimbursement basis. i nese funds I
include the Fleet Services Fund (vehicle maintenance), the Warehouse Fund, the Motor Pool Fund, and j
O the Risk Retention Fund. k 0 •
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` Notes, City of Denton (Continued)
September 30, 1997
I
Fiduciary Fund Types
Trust and Agency Funds-
Trust and Agency Funds a-e used to account for assets held by the City in a trustee capacity
or as an agent for individuals, private organizations, other governments, and/or other funds. These
Include the Expendable Trust Fund and Agency Funds. The Expendable Truat Fund is accounted for
in essentially the same manner as Governmental Fund Types. The Expendable Trust Fund is
comprised of several trust funds of varied purpose. Agency Funds are custodial in nature (assets
equal liabilities) and do not involve measurement of results of operations, The Agency Funds include
the Payroll Fund, the Deferred Compensation Fund and other miscellaneous funds.
General Fixed Assets Account Group
The General Fixed Assets Account Group represents a summary of the fixed assets of the City,
other than assets of the Proprietary Funds. Capital outlays in funds other th. n Proprietary Fund Type
are recorded as expenditures of those funds at the time of purchase and subsequently recorded for
control purposes in the General Fixed Assets Account Group.
General Long-Ten Liabilities Account Group
The General Long-Term Liabilities Account Group represents a summary of the long-term
liabilities of the City paid principally by taxes levied by the City. This account group does not include
long-term debt accounted for in the Proprietary Fund Types.
C. Basis of Accounting
The accrual basis-The Proprietary Fund Types are accounted for on a flow of economic
resources measurement focus. Accordingly, the accrual basis, whereby revenues and expenses are
identified in the accounting period in which they are earned and incurred and net income is
determined, is utilized for these funds. The City applies all GASB pronouncements as well as the
Financial Accounting Standards Board pronouncements issued on or before November 30, 1969,
unless these pronouncements conflict or contradict GASB pronouncements.
ModiRed accrual basis-The Governmental Fund Types ere accounted for on a flow of financial
resources measurement focus. Accordingly, the modified accrual basis is used for these funds and
the Agency Funds. Modifications in the accrual basis for these funds Include the following:
A 1. Revenues are recognized when they become both measurable and available for use during the
year. Those revenues treated as being susceptible to accrual include taxes, interest and
intergovernmental revenues Property tax revenue is recognized independently of receivables
in the fiscal year fur which taxes have been levied, provided they bccome available. Available
means then due, or past due and receivable during the current period, collected within the
current period or expected 10 be collected soon enough thereafter to be used to pay liabilities
O of the current period. Such time thereafter should not exceed 60 days. Revenue sources q
from licenses, fines and forfeitures, service charges and other miscellaneous revenues are
recognized as the cash is received.
2. Expenditures are recognized when the related fund liability is incurred, except for interest and
principal on general long-term debt, which are recorded when due, and vacation and sick
leave, which are recorded when payable from current available resources.
f 23 -
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Notes, City of Denton (Continued)
September 30, 1997
3. Encumbrance accounting, under which purchase orders, contracts, and other commitments
for the expenditure of monies are recorded in order to reserve that portion of the applicable
appropriation, is employed as an extension of formal budgetary integration. Encumbrances
outstanding at year-end are reported as reservations of fund balances since they do not
constitute expenditures or liabilities.
D. Budgets and Budgetary Accounting
The City Council follows these procedures as prescribed by City Charter, in establishing the
budgets reflected in the financial statements:
1. At least sixty days prior to the beginning of each fiscal year, the City Manager submits to the
City Council a proposed budget for the fiscal year beginning on the following October 1. The
operating budget includes proposed expenditures and the means of financing them.
2. Public hearings are conducted prior to the adoption of the budget in order to obtain taxpayer
comments.
3. The annual budget adopted by the City Council covers the General Fund, Special Revenue
Fund (Recreation Fund, Police Confiscation Fund, and Emily Fowler Library Fund only), the
Debt Service Fund, the Enterprise Funds, and Internal Service Funds (except for the Risk
Retention fund). The budget is legally enacted by the City Council through passage of an x j
ordinance prior to the beginning of the fiscal year. The general purpose financial statements
reflect the legal level of control, which is at the appropriation level by function activity within
an individual fund as approved by City Council.
4. The City Charter provides that the City Manager has the authority to transfer any
unencumbered appropriation balances from one appropriation to another within a single
function (office, department or agency). City Council approval is not required at this level.
The Charter also provides that within the last three months of the fiscal year the City Manager
must have City Council approval of any transfer of unencumbered appropriation balances or
portions thereof between functions as well as any increases in fund appropriations. Individual
amendments were not material in relation to the originzl appropriations which were amended.
All budgets are adopted on a basil consistent with generally accepted accounting principles
except that for the Governmental Fund Types, Proprietary Fund Types, and the budgeted Special
Revenue funds encumbrances are treated as budgeted expenditures in the year of commitment to 4
® purchase and for the Proprietary Fund Types depreciaron expense is not budgeted. All unexpended
appropriations at fiscal year end lapse to the appropriate fund balance except for those of the
multi-year grants andlor projects. Encumbered eppropriations ,,a carried forward to the succeeding
year. There were no s.ipplemental appropriations necessary during the year.
A reconciliation of revenues any expenditures on the budgetary basis to revenues and
I
expenditures on the modified accrual basis for Governmental Fund Types is as follows: ,tS
® ® Q f '
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r 1 Oa m ~rf F r~?' tjm~ lr LJ 3 2 L l
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Notes, City of Denton {Continued}
September 30, 1997
F '
General Special Reve sue
r Fund Funds
Revenues and Other Sources:
Budgetary basis $34,533,898 S 783,505
Other Special Revenue Recreation Funds unbudgeted 41,781
All other Special Revenue Funds 4,111,263 _
Revenues and other sources on modified accrual basis 34,533,898 4,936,549
Expenditures and Other Uses:
Budgetary basis 33,189,427 756,932
Other Special Revenue Recreation Funds urbudgeted 1,671
All other Special Revenue Funds 4,707,172
Encumbrances (net) 368,639
Expenditures and other uses on moduied accrual basis 33,558,066 5,465,775
Revenues and other sources over (under} expenditures and
other uses on modified accrual basis $ 975,832 $ 1529,226)
j E, Cash and Investments
For the purposes of the 'Statement of Cash Flows," the City considers investments with
maturities of under 90 days at acquisition to be cash and cash equivalents.
Investments are carried at cost which approximates market value except for Investments in
the deferred compensation plan which are carried at market value. Interest earned on investments
` is recorded in the funds in which the investments are recorded.
F. Unbilled Receivables
l The City accrues amounts icr utility services provided in September, but not billed at
September 30, 1997.
G. Inventories
I Inventories are valued at the lower of cost or market. Cost is determined using a moving
average method. No inventories exist in the governmental fund types.
H. Fixed Assets
0 I Enlerpdse and lntemal Service funds- C
, e recorded at cost, including net interest during the construction period.
1 Contributed I recorded at fair market value at the date of contribution. Depreciation is
recorded on e ° class of depreciable property utilizing the straight-line method over the estimated
1 useful lives cl the assets.
i • 26
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Notes, City of Denton (Continued)
September 30, 1997
Estimated useful lives are as follows:
Useful Life
Fixed Asset (Years)
ENTERPRISE FUNDS-
Becuk System E
General assets Structures 50
Equipment 5 20
Distribution assets Structures 50 I!
Equipment 20 33
Transmission assets - Equipment 20 33
Internal combustion assets • Structures 50
- Equipment 13 - 20
Steam power assets Structures 50
Equipment 20 35
Water and Wastewater System I
Structures 50
Water and wastewater mains 20 33
Equiprigent 10 20
Furniture and fixtures 10
Water Storage Rights 40 100 `
Surd wane
Vehicles and equipment 10
1
INTERNAL SERVICE FUNDS-
Vehicles and equipment 1 - 10
Renewals and betterments of properly and equipment are capitalized, wher ! ,s normal repairs
and maintenance are charged to expense as incurred.
s Genera! Fixed Assets-
General fixed assets are recorded as expenditures In the General, Special Revenue or Capital
Projects Funds when acquired. Such assets are capitalized at cost in the General Fixed Assets
Account Group. Significant gifts or contributions of assets are recorded in the General Fixed Assets
Account Group at the fair market value at the date of acquisition, Public domain (infrastructure)
general fixed assets consisting of streets, curbs, sidewalks, gutters and drainage systems, are
capitalized along with other general fixed assets No depreciation Is provided on general fixed assets. J p
iMr' I. Property Tax ke enue
Property taxes attach as an enforceable lien on property as of January 1. Taxes are levied on
October 1 and are due and payable at that time. All unpaid taxes levied October 1 become delinquent
February 1 of the following year.
28-
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Notes, City of Denton (Continued)
September 30, 1997
The City records revenue from currem property taxes in the year in which bills are measurable
and available. An allowance is provided for delinquent taxes not expected to be collected in the
future.
At September 30 1997, the City had a tax margin of $ 1.97 per $100 valuation based upon
a maximum ad valorem tax of $2.50 per $100 valuation imposed by Texas Constitutional law.
Additional revenues up to $42,746,874 could be raised per year based on the current year's assessed
{ value of $2,169,892,097 before the limit is reached.
` J. Compensated Absences
The City allows employees to accumulate unused vacation up to forty days. Upon termination,
any accumulated vacation time will be paid to an employee. Generally, sick leave is not paid upon
termination except for firemen and policemen. Firemen and policemen accumulate unused sick leave
up to a maximum of 90 days. All other employees are paid only upon illness while in the employ of
the City.
As of September 30, 1997, the liability for accrued vacation leave and accrued sick leave is
approximately $4,574,953. The amounts applicable to the Enterprise Funds ($760,811) and Internal
Service Funds ($28,935) have been recorded in those funds, and the amount applicable to other funds
($3,785,207) has been recorded in the General Long-Term Account Group. The amount expected to
I be paid from current available financial resources is not significant.
K. Comparative Data I
I
Comparative totals for the prior year have been presented in the accompanying general
purpose financial statements in order to provide an understanding of changes in the City's financial
position and operations. However, comparative data Ipres:ntation of prior year amounts by fund type)
in each of the statements have not been included, since their inclusion would make the combined
statements unduly complex and difficult to read.
In certain cases, the amounts previously reported in 1996 have been reclassified in order to
conform to the 1997 presentation.
1. 'Memorandum Only" Total Columns
Total columns on the combined statements are captioned as 'memorandum only' to indicate i
that they are presented only to facilitate analysis. Data in these columns do not present financial I
position, results of operat;ons or cash flows in conformity with generally accepted accounting
principles. fhis presenta,ion does not represent a consolidation. Interfund eliminations have not been !
made in the aggregation of Geis data.
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Notes CifV of Denton (Continued)
September 30, 1997
(2) CASH AND INVESTMENTS
In order to facilitate effective cash management practices, the operating cash of all funds,
except for the deferred compensation fund, are pooled into common accounts for the purpose of
increasing income through combined investment activities. At year end, the carrying amount of the
City's deposits was $12,873,280, and the bank balance was $1,970,691. Federal depository
insurance or the fair value of collateral held by the City's agent in the City's name exceed in total the
City's bank deposits at year-end.
l
The investments of the deferred compensation fund are held separately from those of other I
City funds by an outside trustee appointed by the City. j
Statutes authorize the City to Invest in obligations of the U.S. Treasury, U.S. agencies, I
repurchase agreements, investment pools, investment grade rated securities, and fully collateralized
certificates of deposit. The inveaments reported at September 30, 1997 were similar to those held f
during the fiscal year,
i
At September 30, 1997, the City's Investments (U.S. Treasury and Agency Securities and f
Municipal Securities) were Insured or registered or the securities were held by the City or its agent in
the City's name. As of September 30, 1997, the City's investments were as follows:
Category I Par Cost Market Value r
U.S. Treasury Securities $ 58,735,006 $ 59,247,000 $ $8,735,006 S 58,985,985
U.S, Agency Securities 68,345,460 68,975,000 68,345,460 68,387,210
Municipal Securities 1,499,402 1,500,000 1,499,402 1,501,350 i
Total Securities 128,579,868 129,722,000 128,679,868 128,874,545
Deferred Compensation
Investments 3,510,973 3,510,973
Total $126,579,868 $129,722,000 $132,090,841 $132,385,518
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Notes, City of Denton (Continued)
September 30, 1997
f
(31 FIXED ASSETS
General F&&d Assets- '
I General fixed assets oalances and transactions for the year ended September 30, 1997, are
summarized below:
k Balance Balance
October 1, Transfers? Transfers! September 30,
1996 Additions Deductions 1997
Land $ 5,275,689 6 178,438 1 1 5,454,127
Puirdings 1P,744,369 1,849,782 20,594,151
I Streets 61,632,544 3,438,086 65,270,630
Machinery and equipment and
I other Improvements 12,602,798 5,015,328 1361,391) 17,256,735
Il Construction In progress 10,106,344 8,191,236 (8,268,402) 10,029,178
Tote{ $108,561,744 $18,672,870 1(8,629,7931 1118,604,821
I Investment in General
I Fixed Assets -
Frcm bond Issues 1 78,123,605 1 9,122,858 $18,268,403) 1 78,978,060
From current revenue 11,551,572 8,177,579 1361,3901 19,367,761
69,675,177 17,300,437 (8,629,7931 98,345,821
I
From contributions 18,886,567 1,372,433 20,259,000
Total $108,561,744 $18,672,870 $18,629,7931 1118,604,821
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o
Notes, City of Denton (Continued)
September 30, 1997
If
General Fixed Assets by }unction and activity as of September 30, 1997 are summarized as I lI
follows:
Msch.lEquip. end
Other
Total Lend SQ14 gs Streets lrnprovements
OfNCR41 00VWNMW,
perks 4 9,574,764 62,411,600 6 5,517,214 9 91,744,747
Legal 103,284 3,202 100,092
Municipal Court 26,657 9,340 17,217 {
Human Resources 57,976 57,976
CMOIMSEO 1,119.252 262,304 609,462 49,486
F8661V Marvgement 10,862.1S6 2,500,585 7,512,164 - 849,407
Wary 4,029,050 912,639 - 3,115,411
South Branch Library 1,997,573 1,225,601 771,972
ManningtO 111,362 118,362
Intpociimu 48,451 - 48,461
Main Street 3,146 3,146
6,6761267
Total Consist Government 28,140,571 5,175,689 15,t 118,522
PUMM WORXS:
Tufrc Engineering 3,721,564 35,703 418,529 3,267,333
Engineering 143,930 148,930
I
Code Enforcement 14,650 14,650
Somali 59,761,685 5,000 59,753.356 9,719
Street S w sapi ngrDrai mega 3,856,499 2,700 3.0301986 24.813
Airport 6,350,602 171,4311 950,110 1,267,169 3,054,995
Environmental Health Services 3,000 3.000
ANmd Control 411,552 386.901 24.750 '
Total Public Works 173,177,432 6 178,438 6 1,280,315 665,270,630 16,548,091
1
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li
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J ' 10 32XIC
0
O
l Notes, City of Denton (Continued)
September 30, 1997
I
` Mech./Equip. and
+l OtMr
Total Lend Buildings streets Im-0roverrwnts
icontinuedl
fpwWtE:
Pounce f.dmid+niticn 1 40,479 It 9 7,192 9 1 33,297
I Customer Servkv 1241,995 128,995
PYrchssIA2 12,848 - 12,848
Wainal Audit 13,713 13,713
Budget 1,864 1,864
Treasury 39,577 39,577
Accounting 66,884 66,884
Municipal Court Clarks 48,411 49,411
Tee 12,276 12,271
Administrative Services 93,898 93,891
{ Information Services 449,641 449,641
` Total Finance 901,585 7,112 901,403
fVRX SUITY: .
Fire Administration 129,197 129,197
Fite Operations 3,154,084 2,823,531 W.653
Fire Prevontion 13,932 13,932
Emergency Medical 151,712 151,712
Police 2,800,073 494101 2,305,572
Tatel Public Safety 6,248,998 3,318,032 2,9301066
Construction in erogr is 10,029,118
TOTAL $111,604,821 95,454,127 920,594,151 185,270,630 617,156,725
0
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75 , 32 x 10
01
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C 04Yr'A
Nutes, City of Denton lContinued)
September 30, 1997
Changes In general fixed assets by function and activity for the fiscal year elided
September 30, 1997 are summarized as follows:
Central General
Fixed Assets Translersl Fixed Assets
1011196 Additions Deductions 9130197
GENERAL GOVERNMEAT:
Parks 1 9.554,735 1 182,886 1 162,9821 1 9,674,761
legal 81,569 21,715 103,284
MuNaipel Court 16.118 10,439 26,SS7
Human Resources 59,906 11,!301 57,974 {
CMOMISED 1,039,729 81,323 (800) 1,119,252
Facility Manspament 10,298,358 663,188 10,962,156
Ubury 3,951,202 151,416 174,5691 4,023,050
South Branch Ubrery 700,520 1,297,053 1,997,577 j
Planninp1c0 118,395 1,987 118,362
Inspections 47,612 649 48,461
Main Street 3,146 - 3,145
Total Central Government 25,858,300 2412,438 {140,160) 28,140,571
PURR WORIM
Traffic Enginatrinp 3,617,616 104,048 3,721.664
Enplneerinp 176,557 573 128,2001 148,930 1
Code Enforcement 14,650 14,650
Strolls S6,360.80S 3,407,880 59,766,685
Street swaspinq Rlraina9a 3,611,910 196,296 1149,607) 3,956,499
Airport 2.180.842 3,171,249 17.4891 5,350,602
Emoronirantal Health Services 3,000 3.000
^ Animal Control 411,552 411.552
S Tate Public Works 166,S82,732 16,880,046 $0IS,29 i1 173,277,462 'I
r ~ 0
i
44,
y~ 3Z !
~ 32x~a
25 x
1
8
0
I`
M1
Notes, City of Denton (Continued)
September 30, 1997
Gsnual Ganaral
(1 Fixed estate Transferal Fixed Asset ,
1000 Additions Deductions /130197
' !condnuadl
P7RA7,Of:
Financa Administration 1 31,683 1 8,796 1 6 40,479
I Customer Service 149,506 !20,5131 128,995
Pumhae;ng 13,846 - 12,848
Intrnal Audit 13,713 13,713
Budget 1,864 1,864
Treasury 40,177 - 16001 31,577
Accounting 66,884 - 68,814
Municipal Court Clerks St.911 13,5001 41,411
i Tax 12.275 12,275
` AdmiNstrative Services 95.998 - 42,1001 13,198
Information Services 413,243 36,371 449,641
Total Finance 190,124 45,174 126,7131 908,515
PVWX SAFETY:
Fire Administration 129,197 129,197
Fuo Opered ono. 3.155,140 7,468 t9,222) 3,154,084
Fin Prevention 13,932 13,932
Emergency Medical 151,712 151,712
Polies 1,663,563 5,138,510 2,100,073
Total Public solely S,114,244 1,143,878 19,222V 8,241,991
Construction in Progreso 10,108,344 1,191,238 (8,268,402) 10,029,171
TOTAL 1101,501,744 118.672,970 1(8,829,793) 1119,604,121
i
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25 ~ J 32XI0
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Notes, City of Denton (Continued)
September 30, 1997
I
Construction in progr.ss is composed of the following:
Project, Expended t1
_ Aooryply4jl80 Seobmhu 30. 5991 Committed
GIs Computer System 1 1,284,304 1 1,235,963 1 48,341
Rails to Trails 87,000 14,900 72,100 i
Park Construction 305,000 300,819 4,181
City Hill Renovation 2,066,239 1,765,715 300,521
Public Safety Radio 76,409 76,409
Public Safety Computer System 1,314,543 1,228,750 85,79)
Upgrade Existing Parks • Phase 1 300,000 212,062 87,938
Phoenix Park Expansion 25,000 10,075 14.925
Civic Center Perk Master Plan 40,000 28,745 11,255
HVAC Unit at Library 92,985 55,848 37,139
MILK Slick Ryair 8,040 7,146 194
South Likes Park Containers 1,049,270 1,049,270
Citywide Computer Upgrade 1,335,347 1,152,121 183,226
Teasley 1.4ndecop:ng 78,121 78,114 7
Street and trldga •
Elm 314,576 95,937 218,539
Locust 1,155,313 583,39% 571,922
FM 2499 Rightol-Way Acquisition 20,000 11,559 8,441
MayNl Bridge 22,000 392 21,601
Meyhie at C,.oper Creak Bridge 20,000 2,696 17,304
Wllowcrest Loop Drainage 49,610 12,142 37,468
6idewslks 750,000 36,135 712,865
OPTICOM 75,711 75,711
Carlos and Parkway Turn 35,000 14,072 20,928
"ngo,'RuddellMottingMm 15,000 12,594 2,406
Redo Cub Medians to DTC 13,644 253 13,391
1-35 at McCormick Traffic Signal 55,200 24,625 30,575
371 at Collins signal Corridor 11,000 612 17,398
McKinney at MayNll Tullis Signal 34,500 7,149 27,351
U.S, 377 at 1.35 Improvements 25,300 943 24,357
LNlian We( Sidewalk Connection 23,769 14,915 8,853 1
CMAO • Eagle Drive Turn Lane 22.277 9,361 12,918
Drainage Study . Penn Creek 43.990 48,990
Lenimore Asphalt Oveday 2S,t0O 15,050 10,450
Comrade, Massey, Mingo, Collier 117.000 101,694 15,306
W'al Mart Rig;L+of Way 21,889 16,490 5,399
300 sell Turn Signal 20,000 see 19,414
Union MdlorlSoutMdge Village 13,177 13,377
OMC Parking Lot 58,140 37,077 21,763
Keday Street Culvert 330,000 184,91(5 145,039
Mac. Drrnage Cap, Improve. - Phase 1 WOW 35,241 32,751
Colege and Vine Drainage 20,000 13,118 6982
Traffic Signals • Phase 1 199,000 107,601 91,199 i
_ Loop 201 Bypass A ght-of Way 325,000 7.465 111,635 y
Nottingham (Mingo to Audal 260,000 12,606 227,494 j
Misc. Street Consuuchon 100,000 19.363 60,637
Flow Ares Repaving and Concute 260,000 190,850 71,150
Good Samaritan Drainage IW, D00 53,298 48,702
S Jim Chnstal Bridge 59,000 33,970 25,030
Arena? Turn Lanes • Phase 1 11 i,Doo 14,637 961163
Avenue G 200,000 5,177 194,823
Avenue D Modifications 2!0,000 4,160 285,140
Cooper Which Channel 25,000 1,702 23,298
Entrance Mark 50,000 4,123 4S,077
HMOs* Drainage 15, 000 12,295 21705
Robertson Drive Drainage 422,7U 901,152 206,568
Sea" Strut Rightol-Wry 22,000 1.044 21,860
O Sherman Side w ilk 27,000 10,191 SAW 0 .
State school culvert 50,000 39,151 14,442
Strait and Bridge • Photo 1 452,000 265 151,'135
Strut Improvement Fund 955,533 x99,720 35S,813
Sidewallks/W owe"- Phan 1 142,000 4,127 137,873
South Parking Lx I City Hall Well 25,SIs 13,032 8,404
Parking Spaces at South Branch 11,111 17,401 700
Chao Csntar Bridge 100,000 1.614 88,424
Southea,.t Sidewalks 55.000 46.448 1.662
!10.029.1)1 l5 L41~]~_,
Tout 5,119,621
.j4. II
a~P 7~ K ~ 32 x
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r
Notes, City of Denton (Continued)
I September 33, 1997
i
Enterprise and Internal Service Funds-
Fixed assets of these funds are as follows:
September 30
1997 1996
Utility System-
Land and land rights S 1,926,4;6 $ 1,856,227
Water storage rights 67,715,402 67,715,402
I Electric plant and equipment 107,455,420 103,603,321
1 Water plant and equipment 49,905,378 46,723,364
I Wastewater plant and equipment 55,494,169 52,729,722 _ i
l 282,496,864 272,628,036
Less • Allowance for depreciation 012,109,1421 (106,017,909)
170,367,722 166,610,127
Construction in prc7ress 4,618,397 4,749,191
Total fixed assets • Utility System 4175,006,119 $171,359,318
Solid Waste-
Land and land rights $ 6,602,834 $ 6,596,378
Vehicles and equipment 2,194,661 1,648,331
8,797,495 8,244,709
Less • Allowance for depreciation (2,604,099) (2,438,931)
6,193,396 5,805,778
Construction in progress 137,058
Total fixed assets • Solid Waste S 6,193,396 1 5,942,836
Internal Service-
Land and land rights 9 183,806 $ 183,808
Vehicles and other assets 18,725,412 17,534,732
18, 909, 218 17, 718, 538
Less - Allowance for depreciation (11,780,422) _ 411,550,8771
7,128,796 6,161,661
Total fixed essEts • interne! Service d 7,128,796 / 841.67,881 _
I
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Notes, City of Denton (Continued)
September 30, 1997
(4) LONG-TERM LIABILITIES
Long-term liabilities transactions for the year ended September 30, 1997, are summarized as +
follows:
Balance at Retired Balance at
October 1, and September 30,
_ 1996 issued Transferred 1997
General Loni Term LiabStAi s
Genaral Obligation bonds ! 22,320,823 4 4,700,000 ! 2,732,864 ! 24,287,959
Certificates of Obligation 4,067,760 - 799,596 3,268,184
Obligations under capital leases 8,635 8,535
Accumulated unpaid compensated
absences _ 3,658,409 126,798 - 3,785,207 4
Tatar general long-term d7abr7iries 30,055,547 4,826,798 3,540 995 31,341,350
Proprietary Fund Types
Utility System revenue bonds 09,270,000 5,379,999 83,890,001
General Obligation:
General Obligation Bonds 89,655 15,755 72,900
General Obligation Bonds:
Ipledoed by Solid Waste
revenue0 502,252 71,381 430,871
Certificates of Obligation 10,20- 120 835,450 9,371,770
Obligations under capital leases 111,449 83,179 28,270
I
Accumulated unpaid compensated
absences 768,050 21,696 789,746
Note payable 31,273,659 32,456 31,241,203
To rd propilary fund types 132,22t,285 21,696 6,418,220 125.824,761
Total long-term liabllitles 1162,276,832 1 4,648,494 1 9,959,215 1157,188,111
• ~ a • ~I
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36
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i
I Notes, City of Denton (Continued)
i September 30, 1997 i,
1 I
Genera! Sonded Debt-
General bonded debt at September 30, 1997, is comprised of the following:
Amount
` Outstanding at
interest Rate Final Original Amount September 30,
Bonded lob, M Issue Date Maturity of Issue 1997
General Obligation Refunding 7.70 to 8.00 1Sd5 2004 $5,171,730 41,436,730
General Obligation 6.40 to 9.40 1987 2007 1,225,000 350,000
General Obligation 6.50 to 9.50 1988 1998 1,075,000 200,000
General Obligation 9.00 to 9.50 1989 1999 1,265,000 390,000
General Obligation 5.55 to 8.50 1992 2012 2,630,000 2,300,000
General Obligation 4.65 to 7.50 1993 2013 2,975,000 2,400,000
General Obligation Refunding 3.00 to 5.40 1993 2009 13,315,000 9,000,000
General Obligation Refunding 5.75 to B.50 1995 2015 1,610,000 1,530,000
General Obligation 5.0 to 7.40 1996 2016 2,515,000 2,485,000
General Obligation 5.00 to 7.00 1997 2017 4,700,000 4,700,000
Total General Obligation Bonds 36,481,730 24,791,730
Certificates of Obligaton 6.00 10 9,00 1987 2007 150,000 25,000
Certificates of Obligation 6.60109.60 1989 1999 11155,000 100,000
Certificates of Obtieation 6.00 to 9.00 1989 1999 1,550,000 350,000
Certificates of Obligation 4.40 to 7AD 1992 2007 1,325,000 490,000
Certif,cates of Obligation 4.20 to 5.30 1993 2003 1,450,000 500,000
Certificates of Obligation 4.40 to 7.40 1994 2014 2,705,000 2,285,000
Certificates of Obligation 4.30 to 7,30 1994 2005 3,220,000 2,080,000
f
Certificates of Obligation 5.25 to 8.15 1995 2015 2,000,000 11945,000
Certificates of Obiigat+on 5,00 to 7.00 1996 2016 _ 5,190,000 4,864,954
Total Other General Bonded Debt 18,745,000 12,639,954
Total General Bonded Debt $55,226,730 137,431,684
A Proceeds of general bonded debt are restricted to the uses for which they were approved in
the bond elections. The City Charter expressly prohibits the use of bond proceeds to fund operating
expenses. The general obligatio,rs are collateralized by the full faith and credit of the City and,
{ primarily, payable from property taxes.
In pr or years, the City defeased general obligation bonds by placing the proceeds of new
bonds In an irrevocable trust tt, provide for all future debt service payments on the old bonds.
Accordingly, the trust account assets and liabilities for the defeased bonds are not included In the eD
City's financial statements. On September 30, 1997, $8,325,000 of bonds considered defeased are
still outstanding.
` .37-
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Notes, City of Denton (Continued)
September 30, 1997
Retwoe, Bonds-
Revenue bond debt at September 30, 1997, is comprised of the Poll,wing issues:
i
Amount
Outstanding at
Interest Rate Final Original Amount September 30,
Revenue Bonds {9t,1 Issue Date Maturity of Issue 1997
Utility System 6.75 to 9.75 1988 2008 ! 3,500,000 9 350,001
Utility System 6.00109.00 1989 2009 20,000,000 7,400,000
Utility System 5.80 to 8.75 1992 2014 4,500,000 4,265,000
Utility System 5.00 to 7.50 1993 2013 6,575,000 5,600,000
Utility System Refunding 2.50 to 5.40 1993 2009 27,085,000 24840,000
Utility System Refunding 3.55 to 6.75 1993 2007 6,045,000 31290,000
Utility System Refunding F30 to 7.80 1996 2024 36,510,000 35,395,000
Utility System 5.30 to 7.40 1996 2016 2,750,000 2,750,000
6106,965,000 183,890,001
The City has the option to retire at par alt or a portion of the bonds prior to maturity on of after
December 1, 1993.
The revenue bonds are collateralized by the revenue of the Utility System and the various
special funds established by the bond ordinance. The ordinance provides that the revenue of the
System is to be used first to pay operating and maintenance expenses of the Systern and second to
establish and maintain the revenue bond funds. Any remaining revenues may then be used for any
laA'ul purpose, The ordinance also contains provisions which, among other items, restrict the
Issuance of additional revenue bonds unless the special funds noted above contain the required
amounts and certain financial ratios are met. The City is in compliance with ail significant
requirements. Below is a summary of the various restricted asset accounts required by the bond
ordinance as of September 30, 1997:
I
Interest and Sinking Fund 910,098,340
Reserve Fund 4,991,862
Emergency Fund 250,000
• Extension and Improvement Fund 4,482,300 '
519,822.502
0 ~ 0 tD
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Notes, City of Denton (Continued)
September 30, 1997
Assets in these accounts consists of cash and U.S. governmv..t securities. Related liabilities
and retained earnings are as follows:
1 Payable from restrluted assets.
Accrued interest S 1,631,157
Revenue bonds payable, current 5.380,000
Retained earnings reserved for bond retirement 12.811.345
I 519.822.502 ,
Inaddition, the City has established a reserve fundto pay for General Obligation bonds pledged ;
1 by Solid Waste revenues of $367,100.
In prior years, the City defeased revenue bonds by placing the proceeds of new bonds in an
Irrevocable trust to provide for all future debt service payments on the old bonds. Accordingly, the
trust account assets and liabilities for the defeased bonds are not included in the City's financial
statements. On September 30, 1991, $17,465,000 of bonds considered defeased are still
outstanding.
Note Payab*
In 1980 the City and the City of Dallas contracted with the Corp of Engineers for the
construction and development of Ray Roberts Reservoir in Denton County. In contracts with the Corp
of Engineers, the City will pay for twenty-six (26%) per cent of the estimated water storage rights
of the reservoir. Water obtained from the Reservoir will be pro rata on the basis of each city's
1 proportional share of total construction cost. The closing of the dam was competed in 1987 with
water being available from the Reservoir in 1989. The City's estimated total cost of water storage
rights at September 30, 1997, was $67,465,338. Of this amount, the future use currently estimated
at $28,943,682 at September 30, 1997 is financed by the Corp of Engineers.
No principal or interest payment with respect to this storage for future water supply is required
to be made during the first ten (10) fears following the date the project is operational for water supply
pu•ooses unless all or a portion of such storage is used for purposes o' withdrswal of water from or
trar,3fer of water into Ray Roberts Reservoir during this period. When any portion of the storage for
future water supply is used, the amount of the project investrnent cost allocated thereto, plus interest
applicable to such portion as provided, will be due and payable on the date of the first use of such
portion. The said amount due shall be paid within the life of the project and not to exceed fifty (50)
consecutive annual payments,
V
The City is also responsible for twenty-six (26%) per cent of the cost of any major capital
• replacement facilities required The City will also be required to pay the Corp Twenty-six (26%) per
cent of the annual expo •ienced operation and maintenance cosh for specific water supply facilities
at the Reservoir.
Aggregate maturities of the long-term debt (principal and interest) for the years subsequent
to September 30, 1997, are as follows:
i
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Notes, City of Denton (Continued)
September 30, 1997
Bonds
Geneal
Fiscal Year Obligations Revenue Notes Payable Capital Leases Total
1998 6 3,307,593 1 10,098.127 $ 1,030,253 $16,299 $ 18,452,872
1999 6,691,416 8,962,028 2,008,308 15,499 16,677,251
20u0 5,301,090 8,388,346 2,008,308 15,697,744
2001 4,930,340 7,944,181 2,008,308 14,882,829
2002 4,699,944 7,689,013 7,008 308 14,107,265
2003-2007 15,BG9,189 35,186,759 10,041,540 61,037,488
2006-2012 9,180,700 25,242,994 10,041,540 44,565,234
2013-2017 5,293,662 15,827,491 10,041,140 31,162,693
2018-2022 - 12,764,100 10,041,540 22,805,640
2023.2048 7,668,900 52,483,952 60,152,852
Total princ;pal 57,024,333 139,772,139 102,713,597 31,798 299,541,868
and interest
Less applicable
interest 119,592,6501 155,582,138) (71,472,394) 13,5281 1146,950,7101 P
Total principat / 37,431,684 $ 63,890,001 4 31,241,203 $28,270 4 152,591,158
Bonds Authodzed and Unissued-
General obligations bonds authorized but unissued as of September 30, 1997, amounted to
$22,657,000. When issued, the proceeds will be allocated to the applicable Capital Projects Funds.
(5) LEASES
Leases payable represent the remaining principal amounts payable tinder lease purchase
agreements for the acquisition of vehicles, copier equipment, computer hardware and other
n equipment. These leases are recorded es capital leases. The vehicles, copier equipment and the l
I
landfill vehicles are recorded in the Propriettiry Fund Types. Remaining reouirements, includirg
interest, under these leases ere as follows: I
I
0 ~ 0 !
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I Notes, City of Demon (Continued)
September 30, 1997
Proprietary
Year Fund Types
r 1998 i It 16,299
1999 15,499
i
31,798
I Less - Applicable !nterest (3,528)
Net Present Value 9 28,270
161 PENSION PLANS
Texas Municipal Retirement Plan:
Plan Description-
The city provides pension benefits for all of its full-time employees lexcept firefighters) through
a nontraditional, joint contributory, defined contribution plan in the state-wide Texas Municipal
Retirement System ITMRS), or,e of over 688 administered l l an agent multiple•errployer public
employee retirement systern, It is the opinion of the TMRS management that the plans in TMRS are
substantially defined contribution plans, but they have elected to provide additional voluntary
disclosure !o help foster a better understanding of some of the nontraditional characteristics of the
plan.
Benefits depend upon the sum of the empluyee's contributions to the plan, with 1 tterest, and
the city-financed monetary credits, with interest. At the date the plan began, the city granted
monetary credits for service rendered before the plan began of a theoretical amount equal to two
times what would have been contributed by the employee, with interest, prior to establishment of the
plan. Monetary credits for service since the plan began are a percent (200%) of the employee's
accumulated contributions, In addition, the city can grant as often as annually another type of
monetary credit referred to as an updated service credit which is a theoretical amount which, when
added to the employae's accumulated contributions and the monetary credits for sere ce since the plan
began, would be the total monetary credits and employee contributions accurnuiated with interes' -i
\ the current employee contribution rate and city matching percent had always been in existence and
if the employee's s3iary had always been the average of his salary in the last three years that are one
year before the effective date, At retirement, the benefit is calculated as if the sum of the employee's
accumulated contributions with Interest and the empleyer•finance.t n onetary credits with Interest
fl were used to purchase an annuity.
Members nan retire at ages 60 and above with ten or more years of service or with 25 years
of service regardless of age. The plan also provides death and disability benefits. A member is vested
alter ten years, but he must leave ` is accumulated contributions in the plan. If a member withdraws
his own money, he is not entitled to the employer-financed monetary credits, even if he was vested,
The plan provisions are adopted by the governing body of the city, within the options available in the
e state statutes governing TMRS and within the actuarial constraints alst, in the statutes. G
Confn'6utiona•
u The co tribution rate for the employees is 6%, and the city matching percent is ou'rently
200%, both as adopted by the governing body of the city. Ender the state law governing IMPS, the
city contribution rate is annually determined by the actuary. This rate consists of the normal cost
f .41 -
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Notes, City of Denton (Continued)
September 30, 997
I
contribution rate and the prior service contribution rate, b4 *h of which are calculated to be a level
percent of payroll from year to year. The norinal cost contribution ,-ate finances the currently accruing
monetary credits dud to the city matching percent, which are the obligation of the city as of an
employee's retirement date, not at the time the employee's contributions are made, The normal cost
contribution rate is the actuarially determined percent of payroll necessary to satisfy the obligation of
the city to each employee at the time his retirement becomes effective. The prior sxvice contribution
rate amortizes the unfunded actuarial liability over the re nainder of the plan's 25 year amortization
period. When the city periodically adopts updated service credits and increases it annuities in effect,
the Increased unfunded actuarial liabi6zy is to be amortized over a new 25-year period. Currently, the
unfunded actuarial liability is being amortized over the 25-year period which began January, 1997.
The unit credit actuarial cost method it. used for determinin; the city contrbOun rate. Contributions
are made monthly by both the employees and the city. Since the city need; to know its contribution
rate in advance to budget for it, there is a one-year lag between the actuarial valuation that is the
basis for the rate and the calenda• year when the rate goes into effect.
The city's total payroll in fiscal year' 997 was $32,872,635 and the city's contributions were
based on a payroll of $26,432.624. Both the city and the covered employees rrade the required
actuarially determined contributions, amounting to $4,238,305 19.26% of covered payroll for the
months In 1996, 7.14% or $461,246 city-contributed normal cost plus employee-contributed normal
cost of 6379,837 and 2.12% or $136,998 to amortize the unfunded actuarial liability, and 10.01 %
for the months in calendar year 1997, 7.60% or $1,558,269 city-contributed normal cost plus
employee-contributed normal cost of 51,207,710 and 2.41% or $494,245 to amortize the unfunded
actuarial liability}. The city adopted changes in the plan since the pre, ious actuarial valuation, which
had the effect of Increasing the city's contribution rate for 1997 by 0 04% of payroll. There were
no related-party transactions.
Funding Status and Progress-
Even though the substance of the city's plan is not to provide a defined benefit in some form,
some additional voluntary disclosure is appropriate due to the nontraddional nature of the def'ned
contribution plan which had an initial unfunded pension benefit obligation due to the monetary credits
granted by the city for services ri-ndered before the plan began and which can have additions to the
unfunded pension benefit obligation through the periodic adoption of ;ncreases in benefit credits and
benefits, Statement No. 5 of the Governmental Accounting Standards Board (GAS8 5) defines
pension benefit obligation as a standardized disclosure measure of the actuarial present value of
pension benefits, adjusteJ for the effects of projected salary increases, estimated to be payable In the
future as a result of employee service to date. The measure is intended to help usero assess the
funding status of public employee pension plans, assess progress made in accumulating sufficient
assets to pay benefits when due, and made comparisons among public employee pension plans. j
The pens ^r benefit obligation shown below is similar in nature to the standardized disclosure I
measure required by OASIS 5 for defined benefit plans except that there is no need to project selary
Increases since the benefit credits named for serv;ce to date are not dependent upon future salaries.
The calculations were made as part of the annual actuarial valuation as of December 31, 1996, i
Because of the money-purchase nature of the p'an, the interest rate assumption, currently 8,0% per
year, does not have as much impact on the results as it does for a defined benefit plan. Market value
of resets is not determined fnr each city's plan, but the market value of assets for TMRS as a whole
was 102.7% of book value as of December 31, 1996. is
i2
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AMMS
~~Ao]LILMMK 9%& Ali =%Kmn&~MMASLOMML~
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I Notes, City of Denton (Continued)
September 30, 1997
Pension Benefit Obligation
I Annuita.,ts currently receiving benefits $ 3,714,146
Terminated employees 5,599,346
i Current employees
t Accumulated employee contributions
t Including allocated invested earnings 16,627,061
` Employer-financed vested 25,977,259
1 Employer-financed nonvested 3,676,519
Total 55,594, 331 i
I Net Assets Available for Benefits, at Book Value 42,912,363
Unfunded Pension Benefit Obligation $12,681,968
The book value of assets is amortized cost for bonds andaoriginal cost for short-term securities
and stocks. The actuarial assumptions used to compute the actuarially determined city contribution
rate are the same as those used to compute the p-tnsion benefit obligation. The numbers above reflect
the adoption of changes In the plan since the previous actuarial valuation, which had the effect of
Increasing the pension benefit obligation by $188,866.
} Trend Information
Ten Year Historical Trend information
year December 31, December 31, December 31, December 31, December 31,
Ended 1987 1988 1989 1990 1991
Net Assets Available for
Benefits $11,643,689 $14,146,080 $18,633,114 $19,345,611 $21,968,636
Pension Benefit Obligation $13,665,302 $16,639,047 $19,319,318 $22,536,840 $24,945,432
Percentage Funded 85,2% 65.0% 861% 85.8% 88.1%
Unfunded Pension Benefit
Obligation s 2,021,613 s 2,492,967 s 2,686,204 11; 3,191,329 12,978,798
Annual Covered Payroll 116,535,036 118,148,919 118,947,816 121,120,188 $21,443,097
Unfunded Pension Benefit
Obligation as a Percentage
` of Covered Payroll 12,2% 13.7% 14.2% 151% 131%
City Contribution to TMRS 1 825,976 1 968,006 s 1,020,272 1 1,076,635 1 111681035
Average City Rate 5.0% 51% 5.6% 5.1% 5.4%
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Notes, City of Denton (Continued)
September 30, 1997
1
Ten Year Histwical Trend Infomation (continued) I
Year December 31, December 31, December 31, December 31, December 31,
Ended 1992 1993 1994 1995 1996
Net Assets Available for
Benefits $25,071,409 128,858,450 $32,534,014 $37,669,288 $42,912,363
Pension Benefit Obligation $28,911,481 $37,299,424 $42,764,413 $49,160,519 $55,694,331
Percentage Funded 86.7% 77.4% 7608% 76.67% 77.19%
Unfunded Pension Benelit
Obligation 6 3,840,072 $5,440,974 $10,230,399 $11,471,233 $12,681,968
Annual Covered Payroll $21,896,750 $23,501,218 $23,820,706 126,353,340 $26,432,624
Unfunded Pension Benefit
Obligation NS a Percentage
of Covered Payroll 17.5% 35.9% 42.9% 43,5% 48,0%
City Contribution to TMR9 $ 1,146,207 $1,611,637 $1,902,083 $2,417,415 12,650,758
Average City Rate 5.2% 6.9% 8.0% 9.2% 10.03%
Fireman's Relief and Retirement Plan;
The City provides pension benefits for all Civil Service employees of the Fire Department
through a defined contribution plan. The Board of Trustees of the Denton Fireman's Relief and
Retirement Fund is the administrator for the pension plan. The Pension plan is not considered a pan
of the City of Denton entity. In a defined contribution plan, benefits depend solely on amounts
contributed to the plan plus investment earnings. Fire employees are required to become a member
as a condition of employment. An employee becomes fully vested after 20 years of credited service, j
City contributions for, and interest forfeited by, employees who leave employment before vesting are
redistributed to plan participants.
The City's total Fire Department portion of payroll in fiscal year 1997 was $4,759,088. The 1
City made the required contribution (9.0% for 1996 and 1997) amounting to $428,317. The covered
employees made the required contribution (10% for 1996 and 1997) amounting to $475,909, Both
sources contributed $904,226 in total,
1
17) DEFERRED COMPENSATION PLAN
i
• The City offers its employees a deferred compensation plan created in accordance with Internal
Revenue Code Section 457. The plan, available to all permanent City employees, permits them to
defer, until future years, up to 25% of annual gross earnings not to exceed $7,500. The deferred
compensation Is not available to employees until termination, retirement, death, or unforeseeable
emergency.
All amounts of compensation deferred under the plan, all property and rights purchased with
those amounts, and all income attributable to those amounts, property, or rights are (until paid or •
made available to the employee or other beneficiary) li the property scd rights of the City (without
being restricted to the provisions of benefits under the plan), subject only to the claims of the City's
general rreditors. Participants' rights under the plan are equal to those of general creditors of the City
In an amount equal to the fair market value of the deferred accn, ant for each participant. Investments
(primarily cash and cash equivalents) in the deferred compensation plan are recorded at market value,
. 44 .
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Notes, City of Denton (Continued)
f September 30, 1997
1
I It is the opinion of the City's legal counsel that the City has no liability for losses under the
plan but does have the duty of due cafe that would be required of an ordinary prudent Investor. The
management of the City believes that it is unlikely that it will use the assets to satisfy the claims of
general creditors at this time.
(9) SELF-INSURANCE PLAN
The City has established a self-insurance plan for workers' compensation benefits and general
liability. Accrued claims payable include provisions for claims reported and claims incurred but not
reported. The provisions for reported claims is determined by estimating the amount which will
ultimately be paid each claimant. The provision for claims incurred but not yet reported is estimated
based on the City's experience.
The costs associated with the self-insurance plan are reported as interfund transactions.
Accordingly, they are treated as operating revenues of the Internal Service Risk Retention fund and
operating expenditures (expenses) of the other funds.
Workers' Compensation and General Liability Insurance
It Is the policy of the City of Denton not to purchase commercial insurance for Workers'
Compensation claims. Commercial liability Insurance coverage Ispurchased for public officials, airport,
emergency medical services, and after-school action site programs at Denis and Martin Luther
King, Jr. Recreation Centers. The City reports liabilities when it is probable that a loss has occurred
and the amount of that toss can be reasonably estimated. Liabilities Include an amount for claims that
have been incurred but not reported. Because actual claims liabilities depend on such complex factors
as intl.::on, changes in legal doctrines and damage awards, the process used In computing claims
liability does not necessarily result in an exact amount.
Claims liabilities are reevaluated periodically to take Into consideration settlement of claims,
new claims and other factors. As of September 30, 1997, the estimated value of these liabilities was
$1,005,927. Changes in balances of claims liabilities during fiscal year 1997 were as follows:
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Notes, City of Denton (Continled)
September 30, 1997
Claims Liability Claims and Claims Liability
Beginning of Change In Claims End of
Fiscal Year Estimates Payments Fiscal Year
Workers'
Compensation
1997 $ 294,392 $ 380,689 $369,154 11 305,927
1996 344,583 268,559 318,750 294,392
General l/abilit y
1997 $2,220,000 $(1,232,254) $287,746 $ 700,000
1996 2,912,490 1281,5921 410,898 2,220,000
Employee
Insurance
1997 $ 11,100 $ 11,100
1996 11,100 11,100
On September 3G, 1997, the City of Denton held $4,117,797 in the Risk Retention Fund for All
payment of claims. There were no significant reductions in insurance coverage from coverage in the prior
year and the amount of settlements did not exceed insurance coverage in the current year or in any of the
past three fiscal years.
{g} COMMITMENTS AND CONTINGENCIES
I
Agreement with TMPA-
In 1976, the City, along with the cities of Bryan, Greenville and Garland, Texas (the "Cities"}
entered into a Power Sales Contract with the Texas Municipal Power Agency (TMPA). TMPA was
created through concurrent ordinances of the Cities and is governed by a Board of Directors consisting
-All of eight members, two appointed by the governing body of each city. Under the terms of the
agreement, TMPA agreed to construct or acquire electric generating plants to supply energy and
power to the Cities for a period of not less than 35 years. The Cities in turn agreed to purchase all
A future power and energy requirements in excess of the amounts generated by their systems from ,
TMPA at prices Intended to cover operating costs and retirement of debt. In the event that revenues
are insufficient to cover all costs and retire 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, 1997, total TMPA debt outstanding was approximately $1,316,814,000
0 and the City's percentage is approximately 21 In the opinion of management, the possibility of a 0 .
material payment in the near future under this guarantee is remote in that TMPA Is generating
t operating profits and asseti exceed Ilabiliti:s.
"Zoo" TMPA operates a 452 megawsrt ligniie•fueled generating plant. In 1996, TMPA switched to
an external source of lignite to ra,;uce costs. Should TMPA be dissolved, each City would be entitled
to an undivided Interest in the property,
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Notes, City of Denton (Continued)
September 30, 1997
Selected financial statement Information of TMPA Is as follows:
September 30.
(Unaudited)
I 19,97 1996
(000'5) (0004x)
I Operating Revenues 6 164,105 8 169,655
Operating Expenses 88,665 106,423
1 Operating Income (Loss) 75,440 63,232
Other Nonoperating (Uses) 1601959) (82,424)
Current Assets 53,905 58,540
Total Assets 1,475,946 1,522,731
Long-Term Debt 1,316,814 1,301,205 {
1 Total Liabilities 1,444,469 1,485,896
l Total Equity 31,479 36,835
Agreement with the City of DaNas-
During 1965, the City entered into an agreement with the City of Dallas which provides for
the purchase of a minimum of 500,000 gallons/day of untreated water from the City of Dallas from
Lake Lewisville. This contract will be effective for 30 years.
Litigation-
Various claims and lawsuits are pending against the City. In the opinion of Co management
and legal counsel, the potential losses after insurance coverage on all clalms will not have a material
effect on the City's financial position as of September 30, 1997,
I
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Notes, City of Denton (Continued)
September 30, 1997
II
(10) SEGMENT INFORMATION FOR ENTERPRISE FUNDS
Segment Information for the year ended September 30, 1997, was as follows: '
i
Utility System Solid Waste Fund Total j
Operating Revenues 4 97,333,768 $7,050,129 4104,383,895
Depreciation 7,023,673 163,294 7,187,167
Operating Income 17,639,938 1,636,701 19,476,639
Operating Transfers In
Operating Transfers Out 3937,209 59,080 3,998,289
Net Income 13,684,095 3,322,921 17,007,016
Current Capital Contributions;
In aid of construction 1,732,299 1,732,289
Accounts Receivable:
Accounts receivable, gross 14,000,996 14,000,996
Allowance for uncollectibles 7,027,012 7,027,012
Accounts receivable, net,
unrestricted 5,005,238 5,005,238
Accounts receivable, net,
restricted 1,968, 746 1,968, 748
Property, Plant and Equipment
Additions 9,868,828 552,786 10,421,614
Total Assets 292,798,566 15,506,826 308,30,392
Net Working Capital 8,079,753 1,006,568 9,086,321
Bonds Payable 83,890,001 8,456,616 92,346,617
Notes Payable 31,219,934 21,269 31,241,203
• Total Equity 163,617,889 4,281,623 167,899,512
•48• II
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Notes, City of Denton (Continued)
September 30, 1997
I
I, 111) INDIVIUUAL FUND DISCLOSURES
Individual fund disclosures as of and for the year ended September 30, 1997, are as follows:
fnferfund Receivables and Payabies:
I Interfund Interlund Advances to Advances from
Fund Receivables Payables Other Funds Other Funds
f General Fund 4 421,941 $1,032,032 $
{ Special Revernx Funds:
{ Community Development Black Grant 690
Recreation
Criminal Justice
Library
Other 49,388 6,211
Debt Service 2,055
Capital Project Funds:
Airport Improvement
General Projects 275,000 134,978
Street Improvement
Construction Projects
Other Capital Projects 577,450 144,744
Enterprise Funds
Utility system 319,608 331,387 3,781,784 3,000,000
Solid Waste 5,540 82,985 781,784
Internat Service Funds:
Warehouse 9,682 143,026
Fleet Services 3,358
Motor Pool 201,776
Risk Reto ,.ur.
Trust and Agency Funds:
Expendable Trust
A -
Agency • Payroll
Total $1,860,464 $1,860,484 $3,781,784 $3,761,784
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Notes, City of Denton (Continued)
September 30, 1997
(12} CONTRIBUTED CAPITAL
During fiscal year 1996-1997, contributed capital changed by the following amounts:
Enterprise Internet Service
Funds funds 111
Utility System Total Motor Pool 1
Beg Ming balance • October 1 114,209,112 11,012,198
Contributions from customers 406,487 513,554
Contributions from developers 1,326,802
Deprec is Non (1,865,9241 1376,0961
114,075,477 $1,210,656
111 The Working Capital Fund had no activity in contributed capital for the year ended
September 30, 1997,
(13) CLOSURE AND POSY CLOSURE CARE COST
i
State and federal laws and regulations require the City to place a final cover on its Mayhill
Road landfill site upon closure and to perform cemain maintenance and monitoring functions at the site
for thirty years after closure. Although closure and postclosure care costs will be paid only upon
anticipated closure, the City reports a portion of these costs as an operating expense in each period
based on landfill capacity used as of each balance sheet date. The $1,424,320 reported as landfill
closure and postclosure care liability at September 30, 1997, represents the cumulative amount
incurred to date based on the use of 94.2% of the estimated capacity of the landfill. The City will I
recognize the remaining estimated cost of closure and postclosure care of $87,196 as the remaining
estimated capacity Is filled. These amounts are based on what it would cost to perform all closure 1
and postclosure care in 1997, The City expects to use the remaining capacity in the landfill In the I
year 1998. Actual cost may fluctuate due to inflation, changes In technology, or changes In
rogulat,.ns. II
The Solid Waste fund has provided for a reserve of retained earnings of 6850,975 at
September 30, 1997 and anticipates increasing the reserve in future periods as the closure and
pvatciosure activities are carried out.
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I CITY OF DENTON, TEXAS
I
SUMMARY OF SPECIAL REVENUE FUNDS
I FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
it
Community Development Rick Grant 1080) • to account for the operations of projects utilizing
Community Development Block Grant Funds. Such revenues are restricted to expenditures for
specified projects by the Department of Housing and Urban Development.
lfecreadon • to account for the revenues and expenditures for the recreation programs which are self-
supporting. All expenditures will be reimbursed 100%. Various business operations, such ss
concessions, fall Into this account.
Crlmkml Justice • to account for revenue received from the State of Texas Criminal Justice Division and
1 other gra its administrated by the Police Department.
1 fm4fowiarVbrarp • to account for fines, donations, memorials and gifts to the library that are restricted
to the Public Library.
AN Other • to account tot miscellaneous special revenue sources which are required to finance specific
activities.
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CompnMroivs Annual Financial Report
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! CITY OF DENTON, TEXAS
COMBINING BALANCE Si1EET • ALL SPECIAL REVENUE FUNDS ~
SEPTEMBER 30, 1997
,
Community
Development ..,urinal
ASSETS Block Grdnt Recreation Justice
Cash and deposits 1 32,116 1 38,775 If 5,110
Investments 119,750 265,804 99,792
Receivables Inet of allowances for uncollectiblesf •
Accrued Interest 2,420 2,775 2,016
Other 44,002 8,684
Due from other funds
Due from other governments 144,786 1,735 80,917
Total Assets 1343,074 8305,773 8187,835
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable and accrued IiabiRies 8175,182 8 67,377 1 85,694 f
Due io other funds 690
Other liabilities 14,994
Deferred revenues 140,394 4,574 102,141
Total LlabMas 331.265 71.951 187,835
Fund Balacca:
Reserved for Encumbrances 47,124 74,868
Unreserved 135,3151 168,954
Total Fund edance 11,809 233,622
^ Total UsbilWas and Fund Balance 1343,074 8305,773 1187,835
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Comprahanslvo Annual Flnanclal Report
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CITY OF DENTON, TEXAS
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Emily Fowler All
Library Other September 30, 1997 Septe nb.- 30, 1996
$ 61668 1 499,591 1 682,260 11,950,283
14,969 297,380 787,695
302 81008 13,521 387
` 348 92,485 143,517 164,462
i1 49,388 49,388 110,274
351,470 578,908 659,988
$22,285 $1,296,322 $2,155,289 $2,685,379
$ 3,571 $ 464,939 $ 796,763 $1,017,996
5,211 5,901 42,317
14,846 29,845 2,662
41,632 286,941 259,339
3,571 526,828 1,121,450 1,322,314
6,737 406,840 535,569 223,630
11,977 362,654 498,270 1,339,235
18,714 769,494 1,033,839 1,663,066r
122,2$5 $1,296,322 42,155,289 12,985,379
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COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -
ALL SPECWL REVENUE FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Community
Development Criminal
Block Grant Recreation Justice
REVENUES;
Feet for services 1 500 1605,083 a
interest revenue 8,670 13,656
Twevenue -
Intergovernmental 1,726,120 40,077 291,897
Miscellaneous 93,810 63,416 76,124
Total Revenues 1,828,100 722,212 368,021
1
EXPENDITURES
Current-
General government 1,812,973
Public safety 478,077
Public works
Parks end recreation 716,946
Cipital outlay 61532 l
Total Expen6turas 1,812,973 723,478 478,077
EXCESS OF REVENUES OVER IUNDERI
EXPENDITURES 16,127 (1,266) 5110,0561 I
i
OTHER FINANCING SOURCES (USES):
Operating Transfers In 16,704 110,066
Operating Transfers (Out) (15,7041 131,3171 • _
Total Other Financing Sources IUsu) _(15,7041 115,6131 110,058
EXCESS OF REVENUFS AND OTHER SOURCES
OVER (UNDERI EXPENDITURES AND OTHER
f
USES 1577, 116,8791
FUND BALANCES • October 1 12,388 250,701
FUND BALANCES • September 30 1 11,809 1233,822 11
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Comprehensive Annual Flnsnclal Report I
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I CITY OF DENTON. TEXAS
l
Totals
Year Ended
Emily Fowler All
Library Other September 30, 1997 September 30, 1996
I
1 68,403 1 68,257 1 728,223 1 707,583
1,499 39,679 63,504 88,097
680,841 680,841 761,518 j
2,680 632,346 2,692,020 2,834,580
11,373 290,164 634,887 827,246
81,855 1,699,287 4,699,475 5,219,024
41,411 1,359,824 3,214,208 3,566,764
33,433 511,510 254,995
2,450 2,450
716,946 609,646
34,634 653,087 594,253 434,208
78,045 1,948,794 5,030,367 4,865,603
6,610 1249,5071 1339, 6921 353.421
i
111,314 237,074 300,853
1319,387) 1426,408) 1411,7751
(268 073) 1189,3341 1110,9221
5,810 (517,5801 (529,2261 242,499
12,904 1,267,074 1,663,065 1,320,568
4 18,714 1769,494 41,033,839 $1,563,065
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Comprahenslve Annual Flnenclel Report aa 3 n
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CITY OF DENTON, TEXAS
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1 CITY OF DENTON, TEXAS
SUMMARY OF CAPITAL PROJECTS FUNDS
I FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
~I
I Aiport Improvement Grant Fund - to account for FAA Grant In aid for runway extension and airport
development.
Genera! Projects Funds - to account for Investing nonrecurring funds in capital plant expansion cr
Improvements, extraordinary maintenance projects, facility construction orotherlarge nonrecurring
projects, funded by operating revenues.
Street Improvement Fund • to account for repairs and rehabilitation of city sheets funded by grants and
bond proceeds.
We7!rems Square Fund • to account for paving downtown parking tot to provide parking lot in central
business district funded by bond proceeds.
i Construction Projects Fund • to account for major rehabilitation and construction of facilities funded by
bond proceeds.
Other • to account for miscellaneous capital revenues and expenditures.
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ComprManaFva Annual Finandal RapoA
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CITY OF DENTON, TEXAS
COMBINING BALANCE SHEET • ALL CAPITAL PROJECTS FUNDS
SEPTEMBER 30, 1997
Airport Street
ASSETS Improvement Grant General Protects Improvements Williams Square
Cash and deposits 1 / 69,795 a 697,145 112,660
Investments 4,383,699 1,500,339
Receivables (net of allowance
for uncoilectiblesl:
Accrued Interest $8,860 13,622
Other receivables 78,080
Due from other funds 2,450
Due from other governments 86,658 2,450
Total Assets $86,658 15,012,154 $2,294,088 $12,560
1
LIABILITIES AND FUND
BALANCES M
Liabilities!
Accounts payable and
accrued liabilities 141,422 1 643,454 a 14,752 1
Retainage payable 11,604
Due to other funds - 134,978
Deferred revenues 43,176
Total unwities 84,598 790,038 14,752
Fund Balances:
Reserved for encumbrances 278,883
Reserved for capital
' projects 2,060 3,943,335 2,279,334 12,660
• Total Furl Balances 2,060 4,222,218 2,278,334 12,660
Total uabllitles and
Fund Balances 186,658 $5,012,264 $2,294,088 $12,660
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Comprehensive Annual Flnanclal Report 1 f
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i CITY OF DENTON, TEXAS
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Totals
Construction
projects Other September 30, 1997 September 30, 1996
I 1 206,647 1 17,293 1 1,003,440 12,961,762 f
3,134,720 498,961 10,017,619 1,969,690
27,386 10,082 109,950 36,405
78,080 76,080
275,000 576.000 652,450 4,095,781
89,108 297,891
13,643,163 11,101,336 112,150,647 19,439,609
1 540,232 1 338,120 1 1,577,980 11,092,438
50,638 62,242 43,001
144,744 279,722 347,107
43,176 1,949
` 690,870 482,864 1,963,120 1,484,495
348,998 184,721 812,602 453,041
2,703,685 433,751 9,374,925 7,502,073
3,052,683 618,472 10,187,627 7,965,114
$3,843,753 11,101,336 112,160,641 19,439,609
•69•
1 Comprehenslvd Annual Financial Report
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CITY OF DENTON, TEXAS ,
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -
ALL CAPITAL PROJECTS FUNDS
FDA THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
li
Airport Street
Improvement Grant General Projects Improvement Wdl!ams Square
RLVETIUES:
Interest revenue $ If 202,005 { 81,421 {
Intergovernmental 60,428 6,860
Miscellaneous 98,183
Total Revenues 60,428 202,005 168,464 Ii
EXPENDITURES:
Capital outlay 58,368 2,690,831 125,306
Total Expen lhura 58,368 2,690,831 125,306 I I
EXCESS OF REVENUES
OVER (UNDER}
EXPENDITURES 2,060 (2,498,8261 61,158
OTHER FINANCWO SOURCES I 1
(USESP
Proceeds of long-term debt 4,700,000
Operating transfers (inl 1,960
Operating transfers (out)
Total Other Flnan*g I j
Sources (Uses) 4,700,000 1,960
EXCESS OF REVENUES
AND OTHER SOURCES
OVER rUNDER)
EXPENDITURES AND
OTHER USES 2,080 2,211,174 63,118 O'
FUND BALANCES - r
October 1 2,011,044 2,216,216 12,560
FUND BALANCES
September 30 1 2,060 If 4,222,218 42,279,334 412,560
•60•
Comprehensive Annvat financial Report
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O
CITY OF DENTON. TEXAS
1
I Totals
Year Ended
Construction
Projects Other September 30, 1997 September 30, 1996
I 1 130,014 1 31,921 1 445,361 1 359,441
67,286 272,867
440,094 9,616 547,693 590,618
1 570,108 41,537 1,060,642 1,222,926
1
1,907,578 1,138,126 5.920,209 4,185,615
1,907,578 11138,126 5,920,209 4,185,676
(1,337,470) 11,098.5891 (4,859,6671 12,962,8491
4,700,000 2,705,000
960,458 1,430,266 2,392,672 997,690
15921 (5921 1275,4361 +
959,864 1,430,256 7,092,080 3,427,184
I
1371,6061 333,667 2,232,413 464,305
M 3,430,489 284,805 7,955,114 7,490,809
0 I 13,052,883 1 616,472 410,187,627 11,955,114
1
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f •81•
Comprahanslve Annual nnanelal Report
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CIIY OF DENTON, TEXAS
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.61•
CwWohantiw AmwM flnanolat Report
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0
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II
' I
{ CITY OF DENTON, TEXAS _
1
I J
SUMMARY OF ENTERPRISE FUNDS ,
I FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
I
VeXty System - To account for the provision of utility services to the residents of the City. All activities
necessary to provide such services are accounted for in this Fund, including, but not limited to,
administration, operations, maintenance, financing and related debt service.
Sold West* - To account for the provision of solid waste services to the residents of the City. AM
activities necessary to provide such services are accounted for in this Fund, Including, but not
limited to, administration, operations, maintenance, financing and related debt service.
l 1
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i
•61•
Corrprshansive Annual Financial Itap a
2..x10 32x10
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CITY OF DENTON. TEXAS i~
1
COMBINING BALANCE SHEET - ALL ENTERPWSE FUNDS I
i
SEPTEMBER 30, 1997
• I
ASSETS Utility System Solid Waste
Cash end deposits 1 202,703
Investments 1,407,335 882,688
Receivables Inet of allowances for uncollectibles)
Accounts 5,005,238 3
Unbilled vblity service 6,403,688 371,652 i
Accrued Interest 700,050
Other 1,111,330 13,938
Due from other funds 319,808 5,540
Merchandise inventory 697,707 24,712
Prepaid items -
Deferred bond issuance costs 111381796
Restricted assets
Cash and deposits 4,789,332 994,019
Investments 89,974,485 6,965,129
Accrued interest 289,445 55,852
Accounts receivable 1,968,746
Due from other funds
Advances to other funds 3,781,784
Fixed assets Inet of accumulated depreciation) 175,006,119 61193,396
Total Assets 1292,798,666 115,600.826
(Continued)
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f Comprehensive Annual Financial Report f
I❑ 32x10
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1
v. A
CITY OF DENTON, TEXAS
Totals
September 30, 1997 September 30, 1996
1 202,703 4 874,960
2,289,923 9,086,068
Il
5,005,238 6,078,984
8,776,340 5,562,608
700,050 1,075,955
I 1,125,268 510,723
325,348 194,103
722,419 541,498
1,638
1,138,796 1,221,226
6,783,351 3,434,279
96,939,614 81,947,744
345,297 357,012
1,968,746
8,902,779
i 3,781,764 4,831,784
181,199,516 177,302,164
1306,303,392 1302,302,229
i
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•66•
Comprahonslr4 Amua1 rlnanelal Report
Woo
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CITY OF DENTON, TEXAS_
COMBINING RALANCE SHEET • ALL ENTERPRISE FUNDS Iconcludedl
SEPTEMBER 30, 1997
LIASRJrIES AND FUND EQUITY Utility System Solid Waste
Uabinties:
Accounts payable and accrued expenses 1 7,070,399 1 204,165
Retalnage payable
Accumulated unpaid compensated absences 632,063 128,748
Deposits 1,188,424
Payable from restricted assets •
Accounts payable and accrued expenses 217,312 79,497
Relainage payable
Accrued Interest 1,631,157 65,819
Revenue and general obligation bonds payable 5,380,000 638,661
Due to other funds 331,387 62,995
Advances from other funds 3,000,000 761,784
Leases payable
General obtigation bonds payable 430,871
Certificate of obligation payable 7,387,084
Revenue bonds payable 78,610,001
Note payable 31,219,934 21,269
C1ogurelPostcloswe cost 1,424,320
Total Uabilitles 129,178,677 11,225,203
Fund Equity:
Contributed capital
From other municipalities or governmental units 14,909,624
In aid of construction 27,606,396 i
Less, Accumulated depreciation !28.440,5421
Net Contributed capital 14,075,477
Retained earnings •
Reserved for bend retirement 12,648,845
P.aserved for c .-itat projects 10,432,694 4,915,949
Reserved for landfill retirement 650,916
1 Reserved for debt retirement 387,100
Reserved for dumpster replacement 76,000
Reserved for rate stabilization 54,850,000 600,000
• Reserved for working capital 2,160,000 149,000
Reserved for emergency 6,402,000 373,000
Reserved for water tower 760,000
Reserved lot Infrastructure financing 2,000,000
Reserved for contingency 650.000 150,000
Reserved for capital eonst action 1,000,000 60,000
Unreserved 69,741,873 12,949,4011
. Total Retained Eerr6ngs 149,542,41 4,281,623 0
Total Fund Equity 103,617,869 4,281,623
Total Ll"tles and Fund Equity 42 2,796,6 90,548 115,606,82
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•88•
ConWohisnslve Annud Financial Repot I
32 x~❑
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O
CITY OF DENTON. TEXAS ~
I Totals ,
Septembe 30, 1997 September 30, 1996
i 7,274,554 i 3,408,802
17,148
f 760.811 727,974
1 1,188,4 24 1,158,167
298,809 142,058 V
42,502
1,696,975 1,980,489
6,018,661 5,909,832
394,372 8,368,227
3,781,784 4,831,785
36,095
430,871 430,871
7,387,084 8,023,850
78,510,001 83, 890,001
31,241,203 31,273,659
1,424,320 2,900,561
140,403, 880 153,142,021
14,909,624 14,909,824
27,606,395 25,874,107
128,440,5421 126,574,6191
14,076,477 14,209,112
12,64 8,845 12,802,157
15,349,643 17,290,101
650,976 456,975
387,100 307,100
73,000 75,000
55,350,000 45,932,000
0 2,309,000 21153,000
5,775,000 5,384,000
750,000 $50,000
2,000,000 1,610,000
700,000
1,050,000
59,799,472 48,384,163 _
~ 163,824,075 134,951,096 0
167,8 99,512 149,150, 208
0358,303,392 1302,3D2,229
•87•
Comprahenalra Annual Wanclal Report
~ 32 x C]
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o
CITY OF DENTON, TEXAS
COMBINING S'A,TEMi OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS •
ALL ENTERPRISE FUNDS pp
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Utility System Solid Waste
OPERATING REVENUES:
Electric service 4 72,048,516 4
Water service 14,700,321
Wastewater service 9,889,807
Charges for services 617,145 6,949,613
Miscellaneous 77,977 100,518
Total Opersting Revenues 97,333,766 71050,129
OPERATING EXPENSES:
Purchased power 39,945,087
Fuel 6,797,388
Purchase of water 77,227
Salaries and wages 9,740,680 2,167,499
Materials and supplies 1,530,482 331,917
Maintenance and repairs 2,699,980 8101908
Depreciation 7,023.673 103,294
Administrative cost 7,386,516 781,698 l
ClosurerPostclosure cost 118.754
Miscellaneous 4,492,657 839,360
Total 09irating Expenses 79,693,828 6,213,428 i
Operating Income 17,639,938 1,836,701
'i
NONOPERATINO REVENUES IEXPENSESI
Interest revenue 5,290,534 439,762
Interest expense and fiscal charges 15,145,8381 1580,9621
Other (153,2301 11886,510
Total Nonoparating Revenues 111i is) 118,8341 1,545,300
i
Operating Income Selore Operating Transfers 17,621,304 3,382,001
OPERATING TRANSFERS IN IOUTb
Operating transfer in
Operating transfer out 13,837,2091 459,0801
Total Operating Transfers _ 13,937,2091 159,0601
Not income 13,684,095 3,322,921 1
Add: Depreciation of fixed assets
acquired with contributed capital 1,665,923 1
Increase in retained earnings _ 15,550,018 3,322,921
• RETAINED EARNINGS • Chi 1 133,992,394 958,702 10
RETAINED EARNINGS • September 30 $149,642,412 14,281,823
•68•
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Comprehensive Annual Finaecial Report i
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CITY OF DENTON, TEXAS
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Totals
Year Ended
September 30, 1997 September 30, 1996
4 72,048,516 1 69,633,180
14,700,321 15,328,696
9,889,807 9,997,666
7,566,768 6,830,428
178,493 122,045
I 104,383,895 101,811,814
39,945,087 41,469,061
6,797,386 6,981,645
77,227 80,290
11,908,079 11,343,969
1,862,379 1,910,975
3,510,888 3,967,291
7,187,167 6,817,658
k 8,166,272 9,455,707
118,754 254,302
4 5,332,017 4.068,260
84,907,256 86,349,156
19,478,839 15,462,758
5,720,286 5,350,953
16,1251001 17, 365,7011
1,533,280 136,1801
1,526,668 (2,0%01M
21,003,305 13,411,830
A 13,998,2691 {776,8141
13,996,2P91 {776,8141
11,001,016 12,836,010
1,865,923 1,791,193
18,1072,939 14,420,20i--
134,951,096 120,624,887 0 i1
1153,824,035 1134,951,096
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Compnhanfl®Annual Financial Report
32 x I D
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CITY OF DENTON. TEXAS_
I
COMBINING STATEMENT OF CASH FLOWS
ALL ENTERPRISE FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
i
1
Utility system Solid Waste
Cash flows from opwating activities:
Cash received from customers 1103,793,283 s 7,054,641
Cash paid to employees for services (84,445,826) (2,636,673)
Cash paid to suppliers 112,084,334) (2,165,688)
Not Bash provided by operallons 27,203,123 2,252,380
1
Cash flows from nonespitd financing activities:
Contributions to Fleet Replacement Fund (290,4331 18,6651
Operating transfers out to other funds (3,937,209) 159,080)
Principal payment on long-term advances from other funds (11000,0001 150,000)
Payment received on long-term advances to other funds 1,060,000
Contributionf to others
Proceeds from other 143,891 102,075
Net cash fused for} noncapital financing activities 14,033,7611 115,6701 p
Cash flows from capital and related financing snivitles:
Proceeds received from contributed capital 406,466
Principal payments on revenue bonds and certificates of
obligations 15,380,0001 1529,8321 i j
Interest and fiscal charges 15,321,2041 1606,7791
Proceeds from issue of revenue bonds and certificates of
obligations
Proceeds from issue of notes payable
Principal payment on notes payable 132,456)
Principal payments under capital lease obligation 136,095)
Acquisition and construction of fixed assets 19,344,8721 1413,854)
Net cash provided by (used for) capital and
rstatad romancing actlvl6as 119,639,5901 11,61?,0161
Cash flows from Investing ocilvldes:
. Proceeds from sale and maturities of investment securities 102,495,252 3,400,224
Purchase of investment securities 1107,900,1651 16,211,0381
Interest received on iiwastments 5,243,201 441,845 _
Nei cash luted foil Investing ocdvWos 1181,7121 (2,388,9691
Net increase Idecreasel In cash and cash equivalents 3,428,010 11,151,2751
. Cash and cash equivalents October 1 1,503,965 2,745,294
Cash and cash equivalents September 30 i 4,992,036 1 994,019
IContintredl
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Comprahanalve Annual Financial Report
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CITY OF DENTON, TEXAS
I
Totals
Year Ended
+ September 30, 1997 September 30, 1996
I $110,847,824 $ 94,988,136
I 167,002,3991 M,938,61 11
_ (14,249,9221 11L,174.0391
29,616,603 23,874,888
1299,098) (167,8771
{ 13,996,289) {776,814)
1 11,060,000) (1,050,000)
1,050,000 1,050,000
(8,249)
246,966 139,946
14,049,4211 1812,9 941
406,486 261,153
(5,909,832) 14,652,3801
(5, 92 7,9831 1600,0211
44,260,000
282,360
(32,4581 (33,995,0921 1
136,0951 (102,116)
(9,759,7261 110,882,1411
{ 121,238,606) 111,478,2371
106,896,476 64,139,445
1114,111,203) (101,930,7741
I 6,686,046 6,369,970
12,530,6811 112,421,3591
I 1,676,795 1837,7021
0 4,309,269 6,148,961
6 6,988,054 4 4,309,269
71•
- Comprahanslra Acnual rlnandal Report
Mae
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«NF
CITY OF DENTON, TEXAS
COMBINING STATEMENT OF CASH FLOWS
ALL ENTERPRISE FUNDS (Concluded)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
If
Utility System Solid Waste
i
Reconct5etion of Enterprise Operating Funds Income to Not Cash
Provided by Operating AWv(ties
Operating Income 117,639,938 11,836,701
Adjustments:
Depreciation expense 7,023,473 163,294
Gain ILoss) on sale of fixed assets 16.688)
ClosurelPostcloswe expense 118,764
Decrease dricreasal in receivables 12,277,0971 (24,4201
Decrease tlncreasel in due from other funds 8,743,302 28,832
Decrease (Increase) In Inventories 219,071
Decrease lincreasel In prepaid items 1,836
Increase (Deereasei in accounts payable 3,924,796 64,323
Increase (Decrease) In leases payable
tncreass (Decressel In accumulated unpaid
compensated absences 30,926 1,911
Increase (Decrease) in due to other funds (8,036,840) $2.985
Total adjustmerts 9,623,185 415,579
Net cash provided by operating actlvidea 127,283,123 12,252,380
1
Supplemental Schedule of Noncosh Capita! and Related Financing Activities
Noncesh activity during the year consisted of contributed capital from contractors and developers for the Utility System
In the amount of 11,326,082,
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.72•
Compashonsive Annuel Financial Report
7.5 x 10 32x10
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CITY OF DENTON. TEXAS
I
I Totals
Year Ended
r September 30, 1997 September 30, 1996
119,476,639 116,462,758
I 7,187,187 6,817,655
15,589)
116,754 264,302 {
12,301,517i 696,745
8,7 72,134 (7,520,521)
219,077 341,947
I 11838 11,8361
3,989,119 (391,981)
32,837 82,714
17,97 3,8551 8,163,084
l 10,038,864 8,412,130
I $29,515,503 123,874,888
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Composhansira Arms! Financial Now
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CITY OF DENTON, TEXAS
SCHEDULE OF REVENUES, EXPENSES AND CHANGES N RETAINED EARNINGS •
BUDGET AND ACTUAL • (BUDGET BASIS) • ALL ENTERPRISE FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997 I
Utility System
Variance-
Favorable
Budget Actual (Unfavorable)
OPERATING REVENUES:
Electric service 1 73,716,904 11 72,048,516 111,668,38e1
Water service 15,118,588 14,700,321 (418,2671
Ws stew a ter service 10,566,951 9,889,807 (877,1441
Charges for services 340,100 617,145 277,045
Miscellaneous 106,375 77,917 128,39e) I I
Total Opasting Ravhwes 99,848,918 97,333,766 12,515,1521
OPERATING EXPENSES:
Purchased power 38,865,754 39,1,55,002 11,089,248)
Fuel 8,322,765 6,797,389 1,526,376
Purchase of water 91,250 77,227 14,023
Salaries and wages 11,616,331 10,707,153 809,178
Materials and supplies 1,776,553 1,591.928 183,611
Maintenance and repairs 4,046,633 2,984,604 1,082,028
Administrative cost 7,332,478 71386,574 IS4,0961
Closure/Postclosurs cost
Miscellaneous 6,305,405 6,324,699 980,817
Capital outlay 8,313,208 5,705,496 607,710 I
Total Operegng Expense - 84.669,361 80,509,961 4,069,400
Operating Income 15,279,667 15,823,805 1,644,248
I
NONOPERATNO REVENUES {EXPENSES('
Interest revenue 2,612,283 5,280,634 2,658,251
Interest expenses and fiscal charges (4,623,7951 15,145,9381 4522,1431
Other (78,0001 1153,2301 (76,2301 '
Total Nmoperst(ng Revenue (Expensnl (2,089,5121 118,8341 2,070,878
Operating income before operating Iransfare 13,190,045 18,605,171 3,616,128
s OPERATNO TRANSFERS N IOUT):
Operating transfers in
Operating transfers out 13,894,9141 (3,937,2091 142,295)
Total operating transfers 13,894,9141 13.937,209k 142,2951
Net Income 9,295,131 12,667,962 3,572,831
RETAINED EARNINGS • October 1 133,992,394 133,992,394
RETAINED EARNINGS • Septembst 30 143,287,526 146,860,356 3,672,831
ENCUMBRANCES AND CAPITAL OUTLAYS 1
NET OF DEPRECIATION INCLUDED ABOVE 2,682,055 2,682.056
RETAINED EARNINGS • September 30 1145,959,581 1149,542,412 1 3,572,831
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Cornprehanslve Annual financ4al Report I s
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CITY OF DENTON, TEXAS
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Solid Waste Total
Variance. Variance.
Favorable Favorable
Budget Actual {Unfavorable) Budget Actual lUnfavurablel
1 $ 1 $ 73,716,904 1 72,048,516 $0,668,3881
16,118,588 14,700,321 (418,2671
10,566,951 8,889,807 (677,1441
6,494,109 6,949,613 455,604 6,834,209 7,566,758 732,649
8,000 100,518 92,518 114,375 178,493 84,116
6,502,109 7,050,129 648,020 106,351,027 104,383,895 {1,967,1321
38,865,764 39,955,002 (1,089,2481
8,222,765 8,797,389 1,525,378
91,250 77,227 14,023
2,260,226 2,165,690 94,636 13,778,557 12,872,743 903,814
39(1,455 350,418 48,037 2,171,994 1,942,348 929,648
765,252 769,217 13,9651 4,811,685 3,733,821 1,078,064
810,001 913,135 (23,1341 8,222,479 8,299,709 177,2301
199,031 118,764 70,277 189,031 118,764 70,277
1,070,375 BB1,691 188,684 7,375,780 8,206,279 11169,601
_ 298,910 237,733 61,167 6.612,106 6,943,229 668,877
5,870,240 6,436,638 433,702 90,439,601 85,946,499 4,493,102
631,869 1,613,591 981,722 16,911,426 18,437,395 2,625,970
210,663 439,762 229,189 2,822,848 5,720,286 2,897,440
(580,962) 15801962) (4,823,795) 15,726,9001 11,103,105!
1,688,510 1,686, 510 178,0001 1,633,280 1,611, 280
210,663 1,645,300 1,334,737 (1,878,9491 1,628,688 3,405,615
842,432 31158,891 2,316,459 14,032,477 19,884,062 5,931,585
e 159,0801 159,0801 13,894,9141 13,998,289) 1101,3751
(59,0801 159,0801 13,894,914) 13,996,299) 1101,3761
842,432 3,099,811 2,257,379 10,137,563 15,967,773 5,830,210
958,702 958,702 134,961,096 134,951,095
1,801,134 4,058,513 2,251,379 145,088,659 150,918,889 5,830,210
223,110 223,110 2,905,168 2,905,168
_
12,024,244 14,281,623 12,257,379 1147,993,925 1163,824,035 1 6,830,21_0 O
•75•
- ComptAenslvs Annual Flnanciet Aapom
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CITY OF DENTON, TEXAS f
COMBINING BALANCE SHEET • UTILITY SYSTEM
SEPTEMBER 30, 1997
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ASSETS Electric System Water System
Cash and deposits 1 / 202,703
investments 603.335
Receivables (net of allowances for uncollectibies) •
Accounts 5,005,238
Unbilled utTty service 4,669,834 1,164,838
Accrued Interest 553,991 82,301
Other 1,093,419 1,675
Due from other funds 315,903 3,905 i
Merchandise inventory 697,707
Prepaid items
Deferred bond issuance casts 361,967 680,405
Restricted assets
Cash and deposits 476,606 2,906,326
Investments 63,094,697 18, 840,124
Accrued interest $9,131 145,914
Accounts receivable 1,968,746
Due from other funds rrI
Advances to other funds 3,781,784
Fixed assets (net of accumulated depreciationl 44,295,440 92,929,852
Total Assets $126,269,465 $117,361,178
(Continued)
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CITY OF DENTON, TEXAS
1
l Totals for Utility System
I Wastewater System September 30, 1997 September 30, 1996
I 4 4 202,703 $ 1°4,Ot5
904,000 1,407,335 8,704,441
l 5,005,238 6,076,984 `
669,216 6,403,688 5,216,053
68,758 700,050 1,055.240
16 236 11111,330 496,008
319,808 160,331
697,707 916, 784
` 1,836
206,424 1,138,79; 1,211,226
1,406,393 4,789,332 1,405,880
8,039,684 89,974,485 77,272,466
84,400 289,445 319,782
8,901 779
1,958,746 -
3,761,784 4,831,784
37,780,827 175,006,119 171,259,318
E 419,165,923 $292,796,566 $288,098,997
s ' ~ 0 0
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Comprahonslve Annual Financial Report
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CITY OF DENTON, TEXAS
I
COM9INING BALANCE SHEET • UTILITY SYSTEM 1Concludedl
SEPTEMBER 30, 1997
UABiLITIES AND FUND EQUITY Electric System water System
Usbilttas:
Accounts payable and accrued expenses 1 6,452,251 4 340,228
Retainage payable -
Accumulated unpaid compensated absences 389,834 105,571
Deposits 6,424
Payable from restricted assets •
Accounts payable and accrued expenses 137,521
Retainage payatle
Due to other funds '
Accrued interest 333,680 974,123
Revenue bonds payable 1,837,700 2,599,133
Accrued interest
Dux to other funds 86,092 22,155
Advances from other funds
Revenue bonds payable 16,368,214 46,372,579
Notes payable 31,219,934
Total Liabilities 26,654,195 61,771,244
Fund Equity:
Contributed capital -
From other municipalities or governmental unit 13,060 6,542
In aid of construction 1,.?9,711 14,654,258
Less: Accumulated depreciation 1898,8321 B.2 54,9851
Net contributed capital 423,939 6,605,815
Retained earnings -
Reserved for bond retirement 3,952,391 6,342,690
Reserved (of capital projects 1,959,411 5,703,857
e Reserved for rate stabiheat,on 51,300,000 2,750,000
Reserved for working cap tal 1,633,000 310,000
Reserved for emergency 4,083,000 775,000
Reserved for water tower 750,000
Reserved for infrastrurture financing 1,000,000
Reserved for contingency 300,000
Reserved for cspital construction 500,000 250,000
Urvescrved 35,763,529 10,802,532 Q
I
Total Retained Earnings 99,191,331 28,984,119
Total Fund Equity 99,615,270 35,5E9,934
Told Urbilitlss and Fund Equity 1126,269,465 $117,361,178
78
Comprohanasvs Annual Financial Report
A
O
CITY OF DENTON, TEXAS
1
Totals for Utility System
I
{ Wastewater System September 30, 1997 September 30, 1996
I
6 277,920 0 7,070,399 $ 3,198,144
17, 5 48
I 136,658 632,063 601,137
` 1,186,424 1,158,167
r 79,791 217,312 133,378
1 42,502
323,354 1,631,157 1,868,853
111`f 943,157 5,380,000 5,380,000
{ 223,140 331,387 8,366,227
3,000,000 3,000,000 4,000,000
15,769,208 78,510,001 63,890,001
31,219,934 31,219,934
20,753,238 129,178,677 139,897,495
1 14, 890,022 14, 909,6 24 14, 909,6 24
11,442,426 27,606,395 25,874,107
(19, 9,286,7251 128,440, 5421 126,574,6191
7,045,723 14,075,477 14,209,112
I
2,353,764 12,648,845 12,602,157
2,769,386 10, 432,694 12,526,017
0 800,000 54,850,000 45,932,000
217,000 2,160,000 2,011,000
544,000 5,402,000 5,029,000
750,000 550,000
1,000,000 2,000,000 1,610,000
260,000 650,000
~ I 266,000 1,000,000
13,182,812 59,748,873 53,532,220 f
21,366,962 149,642,412 133,992,394
28,412,695 163, 617,889 148,201,606
49,165,923 $292,798,666 $288,098,997
.79 -
Convprahon%Iv4 Annual Financial Aaport
~~W Awl
A
d
CITY OF DENTON, TEXAS
COMBINING SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS • r ,
UT19TY SYSTEM
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997 ,
Electric System Water System
OPERATING REVENUES:
Electric service 672,048,516 1
Water service 14,700,321
Wastewater service -
Charges for services 617,145
Miscellaneous 45,741
Total Operating Revenues 72,665,661 14,746,062 Ii
OPERATING EXPENSES:
Purchased power 38,974,024 570,289
Fuel 6,763,840
Purchase of water 77,227
Salaries and wages 5,199,718 2,111,799
Materials and supplies 757,300 638,376
Maintenance and repairs 1,452,977 738,700
Depreciation 3,261,309 2,266,927
Administrative cost 4,140,527 1,994,193`
Miscellaneous 3,530,452 444,296
Total Operating Expenses 64,080,147 8,741,807
Operating Income 8,585,514 6,004,255
NONOPERATINO REVENUES (EXPENSES):,
Interest revenue 3,503,582 1,194,602
Interest expense and fiscal charges 11,093,2531 (3,052,001)
Other 1174,7291 $2,910
TotalNonopsrsting Revenues (Expenses) 2 3 5,600 11,774,489)
Operating income Before Operating Transfers 10,821,114 4,229,766
OPERATING TRANSFERS IN IOUT):
Operating transfer in
Operating transfer out (3,691,9141 122,1551
Total Operating Transfers (3,691,9141 122,1551
Not Income 71129,200 4,.J7,61I j
Add, Depreciation of fixed assets
acquired with contributed capital 58,078 679,551
Increase in retained earnings 7,167,278 4,887,162
RETAINED EARNINGS • October 1 92,004,053 24,096,957 Q
RETAINED EARNINGS • September 30 199,191,331 $28,984,119
•80•
Comprehensive Annual Financial Report r
f , F 1 d 32X10
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0
-CITY OF DENTON, TEXAS
Tota4 for Utility System
I Year Ended
Wastewater System September 30, 1997 September 30, 1996
$ i 72,048,516 1 69,533,180
14,700,321 15,328,596
9,b89,807 8,889,607 9,997,665
• 617,145 447,923
l 32,236 77,977 63,460
9,922.043 97,333,766 95,370,824
400,774 39,945,087 41,469,061
33,546 6,797,386 6,981,645
77,227 80,290
2,429,063 9,740,580 9,293,913
234,786 1,530,462 1,604,706
608,303 2,699,980 3,116,752
1,495,637 7,023,673 6,679,138
1,251,SE5 7,386,576 8,728,872 1
_ 617,909 4,492,657 3,047,554 i
6,871,874 79,693,828 81,001,931
_ 3,050,169 17,639,938 14,368,893
582,350 5,280,534 5,082,643
11,000,6841 15,145,938) (7,020,961)
_ 161,4111 1153,230) 118,253) j
(479,7451 118,634) 11,955,5711
2,570,424 17,621,304 12,412,322
A 1223,140) 0,937.2091 1734,914)
1223.1401 13,937,209) 1734,914)
2,347,284 13,684,095 11,677,408
1,128,294 1,865,923 1,791,193
_ 3,476,678 15,550,016 13,468,601
O 17,891,384 133,992,394 120,523,793
$21,366,962 4149,542,412 4133,992,394
.81.
ComprehonVve AnnuM Flnamdf Report
32 x
h
e
0
l
CITY OF DENTON, TEXAS
COMBINING STATEMENT OF CASH FLOWS -
UTILITY SYSTEM
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Electric Water
System System
f i flows from Wei sting activities:
.ash received from customers 3 70,575,900 1 21,087,255
Cash paid to employees for services 159,923,7881 12,108,806;
Cash paid to suppliers (5,187,6161 14,290,6451
Net cash provided by operations 5,464,496 14,687,804
Cash flows from noncapital financing activities:
Contributions to Fleet Replacement Fund 1211,394)
Operating transfers out to other funds (3,691,9141 122,1551
Principal payment on longterm advance from other funds
Payment received on longterm advance to other funds 1,050,000
Contributions to others '
Proceeds from other 36,665 68,297
Net cash fused for) noncapital financing
activities (2,816,643) 66,142
Cash flows Iran capital and related financing activities
Proceeds received from contributed capital 17,000 307,675
Principal payments on revenue bonds 11,951 12,520,4311
Intarest and fiscal charges (1,104,0091 13,201,639)
Proceeds from sate of revenue bonds
Proceeds from issuing of notes payable
Principal payment on notes payable
Acquisition and construction of fixed assets 15,105,7481 (2,065,6971
Net cash (used for) capital end related
financing activities (8,143,5541 17,A80,092)
Cash flows from Investing activities:
Proceeds from sale and maturities of investment securities 59,353,778 35,971,938
e Purchase of investment securities 158,244,5331 (41,297,971)
Interest received on investments 3,532,473 1,150,404
Net cash provided by fused for) investing activities 4,641,718 14,175,629)
Net increase (decreasel in cash and cash equivalents it 53,9831 3,098,225
Cash and cash equivalents October 1 030,591 10,804
Cash and cash equivalents September 30 $ 476,608 1 3,109,029 Q r
g (Continued)
•92•
Comprshens)ve Annual Financial Report I
?S~~Q 32X
Miff MRA
0
r CITY OF DENTON, TEXAS
1
Totals for Utility System
Year Ended
Wastewater
System September 30, 1997 September 30, 1996
$12,130,128 1103,793,283 6 88,615,644
I (2,413,232) (64,445,820 153,016,2711
12,606,073) (12,084,3341 113,128,498)
7,110,823 27,263,123 22,470,875
(79,039) 1290,433) (149,9501
(223,1401 (3,937,209) {734,914}
11100010001 11,000,0001 11,000,0001 1
1,050,000 1,050,000
(8,2491
18,929 143,891 139,946
(1,283,250) 14,033,7511 1703,1671
81,811 406,486 261,153
1908,772) {5,380,000) 14,36E 0001
11,015,5561 {5,321,204) 16,551,2511
39,260,000
282,360
(33,867,4211
(2,173,427) 19,344,872f (8,535.846)
14,015,944) 09,839,5901 (13,536,005)
7169,536 102,495,252 73,620,631
16,357,6611 1107,900,1651 190,028,264!
550,324 5,243,201 5,081,576
(627,801) 1181,712) 111,326,0571
1,183,828 3,428,070 13,094,354)
222,570 1,563,965 4,658,319
1 1,406,398 1 4,992,035 4 1,563,965
I
•83•
I
Canprehenslve Annual Finenelel Report
2 5 K lo 32x
40-
o
• o
CITY OF DENTON, TEXAS
COMBINING STATEMENT OF CASH FLOWS
UTILITY SYSTEM lConcluded)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
1
Electric Water
System System 'I
+
Reeonc8iadon of Utility System Operating Funds Income to Not
Cash Provided by Operating Activities i
Operating income 1 8,585,514 16,004,255
Adjustments:
Depreciation expense 3,261,309 2,266,927
Gain (Loss) on tale of fixed assets 15,387)
Decrease Ilncreasel in receivables (1,934,189) 1249,616)
Decrease (Increase) in due from other funds 1155,5721 6,596,095
Decrease (Increase) In inventories 219,077
Decrease (Increase) in prepaid items 1,176
increase IDecreasel in accounts payable 3,709,990 97,505
Increase (Decrease) in accumulated unpaid
compensated absences 12,102 2,993
Increase (Decrease) in due to other funds (8,233,7351 126,245) `
Total adjustments 13,121,018! 8,683,649
Net cash provided by operating activities 1 6,464,496 114,687,804
SupptemeMal Schedule of Noneesh Capital and Related Financing Activities
NDncash activity during the year cons;sted of contributed capital from contractors and developers for the Water and i
Wastewater Funds in the amount of $924,252 aw 1401,550 respectively.
i
I
i
•e4•
Comprehensive Annual Flnanclel Repot f
2.5 IT3 32X113
i
s
C o
CITY OF DENTON, I ERAS
I
Totals for Utility System
Year Ended
Wastewater
System September 30, 1997 September 30, 1998
1 ~,1
13,050,169 $17,639,938 $14,368,893
1,495,637 7,023,873 6,679,138
(1,3011 16,689)
(93, 3931 12,2 77,0971 142,749
2,302,779 8,743,302 (7,497,9291
219,077 368,659
660 1,836 0,836)
117,301 3,924,796 (421,4091
15,831 30,926 58,799
223,140 18,036,840) 8,175,811
4,060,664 9,623,185 8,101,982
07,110,823 127,263,123 122,470,875
A
I •
I
•85•
CompraAansfvs Annual Manctal R#W
?5 x ❑ 32X
r
o
CITY OF DENTON, TEXAS `
I
I
1
M
f
I
A
0
1
i
86 '
CMnpreh"mlre Annuli rlnamwell Report
~nlo 32x1'
0
0
i Faau
CITY OF DENTON, TEXAS
1
I SUMMARY OF INTERNAL SERVICE FUNDS
I FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Warohou" Fund -to account for the financing of goods and services provided by the Warehouse to other
City departments. Such costs provided by the Warehouse are billed to the other departments at
standard labor charges and cost of parts plus 15%. Actual costs include depreciation on
I machinery and equipment used to provide the service.
Fhret Servkes Fwd- to account for the financing of goods and services provided by the Municipal Garage
and Machine Shop to other City departments. Municipal Garage and Machine Shop billings include
I labor charges and cost of parts plus 25%. Actual costs include depreciation on the building,
Improvements, machinery, and equipment used to provide the service.
Motor Pod Fund • to account for the purchase of City vehicles and equipment not budgeted In other
{ funds. These vehicles are then leased to other City departments. Monthly charges are equal to
the vehicle cost less salvage value divided by the expected life of the vehicle.
I Risk Refentfon Fund • to account for the accumulation of resources for the payment of employee
Insurance claims and insurance policies.
1
J
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i
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1
d ~ Q
87,
Camprehenelve Annual Flnenolel Report
25 x 10 32x10
C
n
CITY OF DENTON, TEXAS
COMBINING BALANCE SHEET • ALL INTERNAL SERVICE FUNDS
SEPTEMBER 30, 1997
ASSETS Warehouse Fleet Services Motor Pool ,
Cash and deposits e - $ $ 70,074
Investments
Receivables
Accounts receivable 97
Accrued interest 120,709
other 10,140 8,726
Due from other funds 9,562 201,775
Merchandise inventory 1,923,718 158,597
Prepaid items 1,174 - -
Restricted assets •
Cash and deposits 140,370 j
Investments 6,418,380
Fixed assets (net of accumulated depreciation) 114,696 233,030 6,774,934
Total Assets $2,059,290 1400,450 112,724,242
LIABILITIES AND FUND EQUITY
Llawrtles:
Accounts payable and accrued expenses $1,164,188 $ 138,004 $ 125,911
Accumulated unpaid compensated absences 7,433 12,234 9,268 M
Accrued interest payable 2,089 20,402
Due to other funds 143,026 3,356 j
Leases payable 28,270
General obligation bands payable 72,900
Certificates of obligation 90,335 1,255,690
Claims payable
Total Lfabilitles 1,342,917 246,018 1,484,171
Fund Equity.
Contributed capital 281,391 6,338,779
Less: Accumulated c'epreeiation (281,391) (5,128,1231 _
Net contributed capital 1,210,656
Retained earnings -
Reserved for capital projects 140,370
Reserved for fleet replacement 5,416,380
Reserved for suthariaed expend-lures -
Reserved for fvture claims
Unreserved 716,373 154,432 4,472,665
Total Retained Earnings 716,373 154,432 10.0"29,415
Total Fund Equity 716,373 154,432 11,~47071
Total Liabilities end Fund Equity $2,059,290 $ 400,450 $12,724,242
1D
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jl
•88•
Comprohanslve Annual Financial Report
-f ?S>< ❑ 32XE❑
0
l
CITY OF DENTON, TEXAS
I
j I
r Totals _
ti Ris!. Retention September 30, 1997 September 30, 1996 '
1 241,055 1, 311,129 $ 839,223
943,574 943,574 5,011,517
• 97
69,129 189,838 214,100
14,201 33,067 49,341
211,337 2,715,699
2,082,315 1,759,858
1,174 1811559
140,370 149,629
4,117 797 9,534,177 5,421,012
6,136 7,126,796 6,130,315
$6,391,892 120,575,874 !22,472,153
S 257,068 1 1,685,171 { 553,676
28,935 40,075
22,491 22,574
148,382 3,749,895
28,270 75,354
72,900 88,65E
1,346,025 1,724,918
1,017,027 1,017,027 2,525,492_
1,214,095 4,347,201 6,760,640
6,620,170 6,046,616
15f 09,5141 15,034,4181
1,210,656 1,012,198
140,370 149,529
5,416,380 5,421,012
13,000 13,000 13,000
4,104,797 4,104,797 3,130,531
6,343,470 3,965,243
4,117, 797 15,018,017 12,6 79, 315
4,117,797 18, 228,673 13, 691,513
46,391,892 $20,676,874 $22,472,153
i
,89, 1
Comprehensive Annual Financial Repm
tt1
1
rOwiF
1 32X
w w
e
I
6
f
CITY OF DENTON. TEXAS
I
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS IDEFIGT)
ALL INTERNAL SERVICE FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
I
Warehouse Fleet Services Motor Pool
OPERATING REVENUES:
Charges for goods and services $2,907,498 12,149,252 4 2,037,787 i
Premiums i
Miscellaneous 1,357
Total Operating Revenues 2,907,498 2,160,609 2,037,787
OPERATING EXPENSES:
Salaries and wages 138,117 442,738 84,729
Materials and supplies 2,439,035 1,463,265 412
Maintenance and repairs 6,968 12,030 3,130
Depreciation 14,216 14,634 1,836,160
Insurance '
Miscellaneous 184,525 38,161 4,542
Total Operating Expenses _ 2,762,861 1,970,828 1,928,973 I
Oprating Income ILossl 124,637 179,781 108,814
I
~ I
NON0PEAAT".'0 REVENUES (EXPENSESI:
Intertyt revenue 323 380,443
Interest expense and fiscal charges 15,2671 18,3561 {86,673) j
Other 15,189 283,705
Total Nonoperating Revenues IExpenses) 9,922 18,0331 677,576
Operating Income Before Operating
Transfers 134,559 171,748 688,389
OPERATING TRANSFERS IN IOUTI:
Operating transfer in 46,168
Operating transfer out 148,6241
e Total Cprating Transfer In 104 (3,3561
Nat lncana 134,659 168,392 685,389
Add: Depreciation of fixed assets acquired
with contributed capital 37F,096
Increase in Retained Earnings 134,659 168,392 1,081,485 E
RETAINED EARNINGS (DEFICITI • October 1 681,614 113,960) 8,967,930
• RETAINED EARNINGS - September 30 1 716,373 1 164,432 110,021,416
a74' i
ComprNrenslve Annual Financial Repoli
K 32X10
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0
CITY OF DENTON, TEXAS
i
tt I
i Totals
111 Year Ended
I Risk Retention September 30, 1997 September 30, 1996
t 7,094,537 5 6,587,669
5,574,780 5,574,780 4,599,478
339 1,656 7,664
I 5,575,119 12,671,013 11,194,611
25,07 691,261 772,628
10,999 3,913,712 3,539,554
1,712 23,840 45,259
1,865,009 1,595,084
4,104,704 4,104,704 3,535,567
656,043 883,271 1,008,246
4,799,135 11,481,797 10,496,338
775,984 1,189,216 698,273
1
265,750 666,515 655,415
1100.1961 1135, 3451
17,532 316,426 211,760
303,282 882,746 731,830
h
1,079,266 2,071,962 1,430,103
46,168
110510001 1153,5241 1132,0001
1105,0001 1108,3561 1132,0001
974,266 11963,015 1,298,103
375,096 313,742
974,266 2,338,702 1,611,845
. 3,143,531 12,679,315 11,067,470
44,117,791 $16,018,017 112,679,315
l
•91•
Comprahenslve Annual Flnandal Aeport
<
c3 ❑ 32'
e
0
CITY OF DENTON, TEXAS
COMBINN: i STATEMENT OF CASH FLOWS •
ALL INTERNAL SERVICE FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997 I
Y
Warehouse '
Cash flows from operating activities:
Cash received from customers 1 2,911,032 j
Cash paid to employees for services 1139,752) I
Cash paid to suppliers 12,732,340)
!
Not cash provided by fused for) operations 38,940
Cash Rows from noncaprtal fvancing activities:
Operating transfers out to other funds
Operating transfers from other funds
Proceeds from other 15.827
Net cash provided by [used for) noncaphsl financing activities 15,627
Cash flows from Capital and related financing activities:
Principal payments on certificates of obligations
Interest and liscat charges ICBM
Proceeds from issue of certificates of obllgafion
Principal payments under capital lease obligations 111,670! '
Acquisition and construction of fixed assets 137,8301
Proceeds from sale of fixed assets 16381
Not Cash (used tor) capital and related financing actfvttias _ (54,767)
Cash flows from Investing activities:
Proceeds from sale and maturities of investment securq,es
Purchase of Investment securities -
Interest received on Investments
Net cash provided by Investing activities
Net increase (decrease) in cash and cash equlvalents
Cash and cash equivalents • October 1
Cash and cash equivalents - September 30 1
Reconciliation of internal Service Operatng Income to Net Cash Provided by (Used forl
Operating Activities
Operating income (loss) 4 124,637
Adjustments:
Depreciation expense 14,215
Loss iGalnl on sale of fixed asset 638
Decrease Oncrease) In receivables 6,097
„ Decrease (Increase) in due from other funds (2,683)
Decrease (Increase) in inventories (305,491) i
S Decrease (Increase) in prepaid items
In;rase IDecreasel in accounts payable 1,102,370
Increase IDecrease) in leases payable
Increase IDecreasel In accumulated unpaid compensated absences 11,6351
Increase IDecressel in due to other funds 1899,328)
Increase IDecreasel in claims payable
Total adjustments (85,697)
0 Net cash provided (used for) by operating activities S 38,940
Q ~
Supplemental Schedvde of Noncash Capital and Rotated Financing Actlvlties t
Noncash activity during the year consisted of contributed capital from contractors and developers for the internal Service
Funds in the amount of 1573,654.
,92•
i
Comprehensive Annual Financial Report )
x 1 ~ 32XIO
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I CITY OF DENTON, TEXAS
1
Totals
Year Ended
1 Fleet Services Motor Pool Risk Retention Seonmblr 30, 1997 September 30, 1996
6 2,141,798 1 1,962,011 i 8,300,778 { 15,315,619 $8,071,132
1453,7061 183,2661 125,6771 (702,4011 (769,551}
(1,638,568) 18,0841 18,793,1581 (13,172,1501 16.833,691)
49,524 1,870,561 1518,0571 1,441,068 1,267,890
l (3,356) 005,0001 1108,3561 (132,000)
1 11,532 33,359 55,412
1 13,3561 187,4681 174,9971 (76,588)
(45,168) 1349,4801 (394,6481 (538,1041
18,3561 (86,6561 (99,641) 1143,199)
( 135,4141 147,0841 1121,7181
16,1351 (2,240,473) 16,1361 12,290,5741 12,448,7971
- 283,705 283,067 188,093
159,6591 (2,428,3181 16,1361 12,548,8801 (3,063,7251
4,038,835 4,119,706 8,758,541 3,171,835
14,634,2021 14,169,560) (8,803,7621 11,992,9331
` 323 381,833 308,621 690,777 621,639
323 366,466 268,767 645,556 1,800,541
113,1661 1171,1911 1352,8941 (537,2531 (71,882)
13,168 381,635 593,949 988,752 1,060,634
{ $ 210,444 S 241,055 1 451,499 4 988,752
1 179,781 1 108,814 { 77$,984 1 1,189,216 { 698,273
14,634 1,836,160 1,865,009 1,595,084
638 8,401
(8,19 111 18,891 16,177 142,452
1199,8431 2,706,768 2,504,362 12,465,931)
116,9661 1322,4571 277,290
0 179,747 179,747 1179,7411
1111,6021 +24,068 16,559 1,131,495 126,4531
112,3761
(10,9681 1,462 (11,1411 3,077
3'56 (2,707,5411 13,603,6131 1,999,440
11,508,4661 (1,608,4651 1771,6201 4
1130,2571 1,761,847 11,294,041) 251,852 689,617
t 49,524 11,870,661 1 (518,0571 1 1,441,068 41,287,890 0 .
31
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•f3•
ComprohsnsIv4 Annual Financial R4port -
2~ ~Q 32x10
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CITY OF DENTON. TEXAS
SCHEDULE OF REVENUES, EXPENSES AND CHANZIES IN RETAINED EARNINGS (DEFICIT)
BUDGET AND ACTUAL • IBUDGET BASIS) • WAREHOUSE, FLEET SERVICES, AND MOTOR POOL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997 I
Warehouse
Variance-
Favorable
Budget Actual (Unfavorable)
OPERATING REVENUES:
Charges for goods and cervices $2,865,743 $2,907,498 $ 41,755
Miscellaneous •
Total Operating Revenues 2,865,743 2,907,498 41,755
OPERATING EXPENSES:
Salaries and wages 135,154 139,753 14,599) `
Mat(:nleis and supplies 2,506,925 2,435,593 71,332
Maintenance and repairs 9,050 6,967 2,083
Administrative cost
Miscellanecus 207,808 183,354 14,454
Capital outlay 45,653 45,584 69
Total Operating Expenses 2,904,590 2,821,251 63,339
Operating Income {loss) (38,6471 66,247 125,094 4
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NONOPERATIl REVENUES (EXPENSES):
Interest revenue -
Interest expense and fiscal charges 15,2671 15,2671
Other 15,027 15,189 16381
Total Nonoperating Revenues (Expenses) 10,560 9,922 1638)
Operating Income Mossl
before operating translate 128,2871 98,169 124,456
OPERATING TRANSFERS IN IOUTI:
^ Operating transfer in
S Operating transfer out
Total operating transf;rc in loath
Net Income 11.0111 128,287) 96,169 124,45e
RETAINED EARNINGS lD[FICFTI • October 1 681,814 681,814
RETAINED EARNINGS IDEFICFII • September 30
(Budget Ill 553,527 677,983 124,466
ENCUMBRANCES AND CAPITAL OUTLAYS NET OF Q
DEPRECIATION INCLUDED ABOVE i 38_390 38,390
RETAINED EARNINGS IDEFICITI • Septarnibm 30
IGAAPaesid / 691,917 $ 716,373 $124,456
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Comptehenalve Annual Financial Report I '
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I CITY OF DENTON, TEXAS
F1:et Services Motur Pool
I Variance- Variance.
Favorable Favorable
Budget Actual {Unfavorable) Budget Actual (Unfavorable)
$2,428,122 $2,149,252 51278,8701 $2,169,437 1 2,037,787 $031,650)
1,357 1,357
I 2,426,122 2,150,609 1277,5131 2,169,437 2,037,787 {131,6501
1 484,45? 442,738 41,714 85,162 83,267 1,895
Il 1,744,825 1,492,658 252,167 900 412 488
17,400 12,450 4,950 8,050 3,130 4,920
I 95,475 19,430 76,045
65,970 32,861 33,109 6,521 4,543 1,978
35,600 21,022 14,578 2,434,032 1,103,361 730,671
2,443,722 2,021,159 422,43 2,534,665 1,794,713 739,952
05,600) 129,450 145,050 1365,228) 243,074 609,302
1
2,195 323 (1,8721 334,000 380,443 48,443
18,356) (8,3M (86,5731 1%6,6731
_ 65,000 283,705 197,705
1 2,195 18,0331 10,22 B) 420,000 577,575 157,575
113,4051 121,417 134,622 54,772 $20,649 765,877
45,168 45,168
148,5241 (48,524)
13,3561 13,3561
113,4051 118,061 131,466 54,772 820,649 765,877
113,9601 0 3,9601 8,967,930 8,957,930
. 121,3651 104,101 131,466 9,022,702 9,188,679 765,877
0 ~
$0,331 60,331 240,836 240,836
1 22,966 11 154,432 1 131,466 $9,263,638 $10,029,415 4 765,877
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Compmhanslvs Annual Flnanclal Report -
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CwWah Ove Annual Flnandel Repm I
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CITY OF DENTON, TEXAS
I
SUMMARY OF TRUST AND AGENCY FUNDS
t FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
i EXPENDABLE TRUST FUNDS
Mrscohnsous - to account for several small trust funds which are varied In purpose.
AGENCY FUNDS II
Payroll • to account for the collection and paymem of the City's payroll and associated lisbilities. l
I Deferred Compensation - to account for the City employees' investment In a deferred compensation plan.
Other • to account for miscellaneous City employee funds.
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CITY OF DENTON, TEXAS
COMBINING BALANCE SHEET • ALL TRUST AND AGENCY FUNDS
SEPTEMBER 30, 1997 {
I +
Expendable
ASSETS Trust Fund Agency Funds
Cash and deposits N2,265 13,887,292
Other rece vables 7,639
Total As lots $12,265 93,694,931
LIABILITIES AND FUND BALANCE
Accounts payable $ 4.821 $3,894,931
Due to other funds
Total LONlities 4,821 3,894,931
Fund balance 7,444
Total UabTties and Fund Balance $12,265 $3,894,931
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I CITY OF DENTON. TEXAS
I Totals
September 30, 1997 September 30, 1996
13,899,557 $2,877,215
7,639 7,256
13,907,196 42,884,471
` 13,899,752 12,867,930
I 148
3,899,752 2,868,078
7,444 16,393
13,907,19S $2,884,471
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CemprahonNve Annual FNenclal Ripon
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CITY OF DENTON, TEXAS
STATEMENT Of CHANGES IN ASSETS AND LIABILITIES - ALL AGENCY FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Balance
October t, 1998
PAYROU FUND
ASSETS
Cash and deposits 1 289,928
Other receivables 7,256
Total Assets ll 2 97, 0 84
LtATILl'TiES ~a
Atcouits payable F W,042
Due to other funds 142
Total Uab6'ides 1 297,184
DEFERRED COMPENSATION flrNO
ASSETS
Cash and deposits 12,503,102
Total Assets 01,503,102
LIABILITIES 1
Accounts payable • due to participants 02,503,102 1 I
Total Uabl itles 02_5~03,1~02 i
ALL OTHER AGENCY FUNDS }
ASSETS
Cash and deposits 1 64,603
Total Assets 84,603
LIABILTIES
Accounts payable • due to employees 0 64,603
Total Uawfles 0 84,603
TOTAL AGENCY FUNDS
• ASSETS
Cash and deposits 12,857,633
Other receivables 7,256
Total Assets 12,864,889
LIABILITIES
Accounts payable 17,864,747
Due 10 other funds 142
Total U&Witlas 12,884,889 O •
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Comprehensive Annual Flnanclal Report
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CITY OF DENTON, TEXAS
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Balance
' Additions Deductions September 30, 1997
160,651,377 160,625,670 1 316,635
I 363 7,639
$60,651,760 $60,825,670 3 323,214 I
I
$26,244,885 626,218,653 s 323,214
I 142
$26,244,866 126,218,795 6 323,274
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1 1,119,415 0 111,544 3,510,973
$ 1,119,415 4 111,544 13,510,973
$ 1,119,416 $ 111,644 13,510,973
$ 1,119,415 $ 111,544 $3,510,973
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1 1,576 $ 5,494 $ 60,684
4 1,576 0 6,494 s 60,684
$ 1,575 $ 5,494 s 60,684
$ 1,575 $ 6,494 $ MOM
$61,172,387 160,742,708 $3,887,292
383 7,639
$61,712,760 $60,742,108 43,894,831
$27,385,875 $26,335,691 63,894,931
! 192 O !
$21,365,876 $28,335,833 13,894,931
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CompreheWvs Annust Flnancist Report
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CITY OF DENTON, TEXAS
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-CITY OF DENTON, TEXAS
I GENERAL FUND SUPPLEMENTAL INFORMATION II
I SCHEDULE OF EXPENDITURES `
BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
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CornprBMn/ir~ Annual Financial Acp o+r
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CITY OF DENTON, TEXAS ,
I
GENERAL FUND • SCHEDULE OF EXPENDITURES •
BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Variance-
Actual Actual Favorable i1
Budget Expenditures Encumbrances (Unfavorable)
GENERA! OOVERN11i
Administration 100001
Personal Services 1 615,825 1 616,825 1 1
Supplies 24,740 24,720 20
Maintenance 632 805 27
Services 94,931 94,517 332 82
Sundry 20,316 19,131 53 631
Fixed Assets •
Proprietary Funds Reimbursement 1291,7211 (291,721)
364,722 363,677 385 660
Public Information 100011
Personal Services 65,814 85,814
Supplies 1,100 688 414
Maintenance 283 283
Services 2,609 2,353 250 6
Fixed Assets 1,800 1,589 11
Proprietary Funds Reimbursement '
71,416 70,442 250 724 i
Cable TV 10003;
Personal Services 5,752 6,715 37
Supplies 2,862 48 2,643 171
Ma rtenanae 619 149 460 10
Services 3,110 3,089 21 f
Sundry 800 $26 274 i
Proprietary Funds Reimbuuseii,ent _
13.143 9,527 3,103 513 I 1
~ 11
Facilities management 100021
Personal Services 434,254 433,931 323
Supplies 21,980 27,810 90 80
Maintenance 165,663 160,087 3,190 2,386
Services 1,351,526 1,289,270 29,320 32,938
Administrative transfer
Fixed Assets 125,000 125,000
_
Proprietary Finds Reimbursement (188,5331 it III
1.917.00 1,849.565 _ 32,600 35,725
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Compfohanslve Annual Flnanclat Aspen ~i,
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CITY OF DENTON, TEXAS
GENERAL FUND • SCHEDULE OF EXPENDITURES
' BUDGET AND ACTUAL (CONTINUED) 1
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Variance-
Actual Actual Favorable
Budget Expenditures Encumbrances IUnlavorablel
Administrative Services 100811
Persural Services 1 244,129 1 243,995 1 1 134
Supplies 151960 15,547 393 10
Maintenance 21,828 19,250 2,638 40
Services 23,023 17,099 6,850 74
Fixed Assets ;
Proprietary Funds Reimbursement 1128,7441 (129,7441 _
176,288 161,147 8,881 258
Human Resources 10008)
Personal Services 463,638 463,568 70
I 2upplles 28,053 27,918 135
l Maintenance 3,2b1 3,002 291
Services 117,003 73,811 13,372 10
` Sundry 11,077 11,045 32
e Fixed Assets 450 418 34
Proprietary Funds Reimbursement 1384,1401 1364,1401
229,372 215,428 13,372 572
I Inlmmation Services (00801
Personal Services 631,854 631,825 29
Supplies 47,025 41,504 5,521
Maintenance 133,183 97,215 35,949 19
Services 698,961 663,047 35,905 9
Sundry 150 28 122
Fixed Assets 4,330 4,039 291
Proprietary Funds Reimbursement 1110,6861 1210,5881
1,304,917 1,227,072 77,375 470
s '
Legal Administration 100041
Personal Services 521,548 521,513 33
Supplies 10,350 10,264 86
Maintenance 150 150
Services 71 ,Bo 65,837 16,022 2
~ Sundry 800 451 343 Q ,
Fixed Assets 19,845 19,769 78
Proprietary Funds Reimbursement 1189,4381 1181
434,114 419,552 15,022 540
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Comprshsnslve Annual flmwclM Rai
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CITY OF DENTON, TEXAS
GENERAL FUND • SCHEDULE OF EXPENDITURES •
BUDGET AND ACTUAL. ICONTINUEDI
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Variance.
Actual Actual Favorable
Budget Expenditures. Encumbrances (Un",vorablel
Municipal Court Judge 100051
Personal Services 1 171,910 lt 149,345 $ 1 22,566
Supplies 3,060 2,290 770
Maintenance 400 64 338
Services 27,850 6,288 21,564
Fixed Assets 8,700 1,423 6,288 989
211,920 159,408 6,288 46,224
Municipal Services 100091
Persoral Services 271,816 271,815 1
Supplies 6,802 6,602
Ma ntenance 350 347 3
Services 12,862 12,286 676
Sundry 454 453 1
292,284 291,703 0 581
Library Administration 100701
Personal Services 138,175 136,174 1 f
Supplies 12,611 12,263 225 123 f
Maintenance 31,617 31,616 1
Services 61,944 57,751 3,444 749
242,347 237,804 3,669 874
Library C,rculation Services 100711
Personal Services 230.862 230,623 39
Maintenance 284 135 149
231,146 230,958 0 188
Library Svpport Services 100721 4
Personal Services 133,444 133,443 1 r 1
Supplies 5.950 5,318 see 44
Manterwce 5,000 4,469 527 4
Services 350 82 268
144,744 143,312 1.115 317
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Comprehensive Annual Financial Report
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CITY OF DENTON, TEXAS
GENERAL FUND • SCHEDULE OF EXPENDITURES •
I BUDGET AND ACTUAL !CONTINUED)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Variance-
Actual Actual Favorable
Budget Expenditures Encumbrances (Unfavorable)
I Library Adult Services (00731
Personal Services 1 259,981 1 258,313 1 1 1,648
Supplies 6,000 6,965 35
Services 580 496 85
Fixed Assets 84,138 78,482 5,684 Bo
350,677 343,266 8,58♦ 1,868
1{ library Children Services (0074) {
1 Personal Services 187,018 187,018
Supplies 1,200 1,144 10 46
Services 700 698 2
Fixed Assets 30,000 20,150 9,850
218,918 209,010 9,860 48
South B(sncb Library 100751
Personal Services 145,161 145,160 1
Supplies 2,492 2,474 1B
Maintenance 986 760 236
Services 32,282 23,922 6,726 1,634
Fixed Assets 45,302 38,000 7,301 1
228,223 210,306 14,281 1,636
l finance Administration 10020)
Personal Services 212,914 212,813 101
Supplies 4,219 4,076 143
Maintenance 100 27 73
Services 25,921 25,378 204 339
243,164 242,294 204 656
Purchasing 10021)
Personal Services 253,419 253,412 1
Supplies 9,710 9,646 7 167
Maintenance 426 198 229
Services 21,316 21,278 38
w Fixed Assets 907 473 425 9 g
roprietary Funks Reimbursement (171,434) (171,434)
114,343 113,471 432 440
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Cemprehanslve Annual Financial Rsport
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CITY OF DENTON, TEXAS
GENERAL FUND • SCHEDULE OF EXPENDITURES •
BUDGET AND ACTUAL ICONTINUED) I
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Variance-
Actual Actual Favorable
Budget Expenditures Encumbrances (Unfavorable)
Customer Service (0022)
Personal Services 1 722,152 S 722,141 4 1 11
Supplies 215,660 213,163 2,142 235
Maintenance 4,198 4,166 12
Services 84,187 83,970 90 127
Proprietary Funds Reimbursement 19521068! 1952,0681
74,029 71,412 2,232 385
Cashiering 100231 I
Personal Services 363,343 363,338 6 I
Supplies 6,329 5,329
Maintenance 626 625
Services 13,721 13,605 120 2
Proprietary Funds Reimbursement 1207,8331 (207,6331
176,391 175,264 120 7
Accounting (0024)
Personal Services 496,848 496,765 93
Supplies 16,501 16,499 2
Maintenance 1,181 1,046 136
Services 17,468 17,465 1
Proprietary Funds Reimbursement {485,7661 (486,7861
45,210 44,979 231
Tax (00261
Personal Services 64,052 64,061 1
Supplies 11,051 10,804 1 258
Maintenance 6o 27 23 i
Services 4,637 4,594 43
79,810 79,466 1 323
Municipal Court Clerks 100261
Personal Services 361,365 361,365
Supplies 34,067 33,850 52 155
Services 18,173 17,053 308 612 1
413,605 412,288 370 967
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CITY OF DENTON, TEXAS
GENERAL FUND - SCHEDULE OF EXPENDITURES •
BUDGET AND ACTUAL (CONTINUED)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Variance- ,
Actual Actual Favorable
Budget Expenditures Encumbrances (Unfavorabtel
I Internal Audit 100271
Personal Services ! 63.446 f 63,448 1 1
Supplies 2,615 2,247 163 215
Services 3,737 3,551 186
Proprietary Funds Reimbursement 144,9741 144,974I
24,824 24,270 153 401
Budget 100281
I Personal Services 114,139 113,921 218
Supplies 3,314 3,314
Maintenance 22,520 22,480 40
t Services 871 614 57
Proprietary Funds Reimbursement (82,9451 1P2,8451
87,799 57,464 0 315
I Finance Administration Misc. 1020M1
Personal Services 103 103
services 166,109 150,754 16,043 312
Alministrative Transfer 537.578 837,676
Sundry 228,502 216,515 12,984 3
Fixed Assets 1,725 1,614 111
Proprietary Funds Reimbursement (71,1731 171,173)
862,842 834,296 28,027 529
Accounting Mist, (024M1
Personal Services 105,821 105,826 1
Services 159,608 124,747 34,848 13
Insurance 151,657 161,657
Sundry 161,281 161,981 5,023 257
Proprietary Funds Reimbursement 193,664) 193,6641
490,669 450,541 39,671 211
Inspection (00141
Personal Services 517,258 517,205 61
Supplies 15,850 15,772 78 Q
Maintenance 5,114 5,221 $93
Services 44,881 39,828 5,145 108 j
Sundry 100 100
584,201 577,826 6,145 1,230
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Comprehensive Annual Financial Report - - -
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CITY OF DENTON, TEXAS
GENE9AL FUND • SCHEDULE OF EXPENDITURES -
BUDGET ANO ACTUAL (CONTINUEDI
FOR THE FISCAL YEAR ENDCO SEPTEMBER 30, 1997
variance. I!1
Actual Actual Favorable I r
Budget Expenditures Encumbrances IUnfavorablel II
Planning and Development 100151
Personal Services 1 621,551 1 521,470 1 1 81
Supplies 8,952 8,390 562
Maintenance 376 65 320
Services 58,847 65,139 1,600 11
Sundry 900 695 6
Proprietary Funds Reimbursement 110,802) 110,8021
677,623 575,144 1,600 979
Planning and Development M se. 1015M) 1
Sundry 246,493 243,588 1,950 955 1
Propretary Funds Reimbursement 140,4291 140,4291 -
208,084 203,159 1,950 955
Main Street Program 100161
Personal Services 83,255 83,179 7e
Supplies 3,879 3,279 512 88
Services (6,4641 18,247) 991 792
90,670 78,211 1,503 956
Total General Government 110,460,373 $10,087,267 1 273,273 4 99,833
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GENERAL FUND • SCHEDULE OF EXPENDITURES •
BUDGET AND ACTUAL ICONTINUEDI
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Variance
Actual Actual Favorable
Budget Expenditures Encumbrances (Unfavorable;
PUBLIC SAFETY:
Police 100401
Personal Services 1 6,999,651 / 6,9S9,J26 1 1 40,325
Supplies 233,938 229,949 3,804 185
Maintenance 203,704 192,251 822 10,631
Services 421,692 419,583 1,176 833
Sundry 111,611 110,818 853
Fixed Assets 19,423 10,236 9,187
7,989,979 7,922,163 5,802 82,014
Fire Administration !00501
Personal Services 678,653 678,553
Supplies 27,215 21J50 1i 5C
Maintenance 37,943 37,625 114 4
Services 164,860 164,800 78 2
Sundry 100 687 13
Fixed Assets 3,716 3,718
i 913,007 912,731 207 69
,
Fire Operations 100511
Personal Services 4,517,408 4,517,408
Supplies 104,721 95,553 9,016 153
Maintenance 53,499 51,611 1,888
Services 139,724 139,508 214 2
fixed Assets 23,229 22,948 _ 273 8 ,
11 4,821,028 11,390 163
Fire Prevention 100521
• Personal Services 239,485 23f,484 1
Supplies 7,278 7,277 1
Maintenance 3,934 3,934
Services 21,568 21,357 210 1
272,265 272,052 210 3
0 I ~ 4 ~
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Comprehanslve Annual Financlel Report
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-CITY OF DENTON, TEXAS
GENERAL FUND - SCHEDULE OF EXPENDITURES •
BUDGET AND ACTUAL (CONTINUEDI
FOR THE FISCAL YEAR ENDED ti£PTEMBER 30, 1997
Variance.
Actual Actuat Favorable
Budget Expenditures Encumbrances (Unfavorable)
Emergency Medical Services (0053)
Personal Services 1 772,991 1 772,968 1 11, 3
Supplies 131,231 121,112 10,119
Maintenance 35,471 35,471
services 135,324 135,323 1
Fixed Assets 2,925 2,922 3_
1,077,942 1,067,818 10,119 7
Told Pu6Nc Safil 116,091,774 115,001,790 1 27,728 1 62,266
PUBLIC WORKS,
Engineering (00101
Personal Services 1 1,013,211 a 1,013,210 1 1 1
Supplies 26,770 26,275 473 22
Mamtenance 11,008 8,044 2,959 6
Services 36,137 35,970 169 8
Viied Assets 4,719 673 4,078 68
Proprietary Funds Reimbursement 153,2571 153,2571 ,
1,038,588 1,030,815 7,669 104
Transportation fogineering (00121
Personal Services 292,026 266,534 5,492 {
Sr,pplics 11,164 10,651 286 27
Maintenance 78,390 75,810 2,382 198
Services 56,379 55,271 1,105 3
Fixed Assets 50,340 31,908 18,377 55
483,299 460,374 22,160 5,775
Airport 100191 `
Personal Serrwices 117,657 117,657
Supplies 3,314 3,311 3 {
Maintenance 4,060 3,627 447 6
Scrnres 13,412 13,460 12
` Sundry 1,100 1,069 31
Frved Assets 8.380 6,343 37
k, 146,003 145,487 459 77
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-CITY OF DENTON, TEXAS
GENERAL FUND • SCHEDULE OF EXPENDITURES
I BUDGET AND ACTUAL ICONTINUEO)
FOR THE FISCAL YEAR ENDED SEOTEMSER 30, 1997
I Variance-
Actual Actual Favorable
Budget Expenditures Encumbrances IUnWorable)
{ Street Patching (0031)
I Personal Services / 701,002 / 701,002 t
Supplies 60,581 59,932 649
Maintenance 1,242,408 1,017,523 224,882 1
Services 114,927 114,557 37C
I Fixed Assets 48,974 44,179 4,794 1
2,167,890 1,937,193 230,325 372
Street SweepinglDrain3ge !08101
Personal Services 223,642 223,641 1
Supplies 23,073 22,967 108
I Maintenance 69,698 69,597 100 1
1 Services 118,436 145,424 2,272 740
Fixed Assets 35,790 35,6?0 100
500,639 497,319 2,478 842
Street Lighting 10034) -
Services 425,400 426,394 8
425,400 425,394 6
Ervironmental Health Services 100381
Personal Services 158,399 156.398 1 1J
Supplies 4,664 4,374 190
Maintenance 200 175 25
Services 5,469 5,394 75
168,632 168,341 291
Animal Comrol 10039)
Personal Services 284,221 284,226 1
Supplies 21,691 21,685 6 1
Maintenance 9,476 9,411 65
Services 35,107 34,974 60 73
r
350,501 350,296 130 111
ToWWc Works 1 6.280,463 1 6,015,199 1 263,211 4 2,053
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CITY OF DENTON, TEXAS
GENERAL FU NO • SCHEDULE OF EXPENDITURES •
BUDGET AND ACTUAL (CONCLUDED)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
Variance- i ,
Actual Actual Favorable
Budget Expenditures Encumbrances (Unfavorable)
PARRS 8 RFt:AfArIDM.
Parks & Recreation Administration 100601
Personal Services 1 228,639 4 228,638 4 1 1
Supplies 17,379 17,378 1
Maintenance 575 574 1
Services 206,397 205,348 48 1
Sundry 629 618 I
452,519 452,466 48 5
Recreation 100621
Personal Services 906,824 906,794 30
Supplies 51,543 58.699 604 2,040
Maintenance 16,550 14,974 762 824
Services 186,306 184,190 498 1,818
Fixed Assets 22,982 19,090 2,692
1,194,205 1,183,747 6,946 4,512
Park Maintenance 10063)
Personal Services 951,770 9$1,731 39
Supplies 97,440 82,664 14,775 1
Maintenance 149,288 131,784 17,436 68
,r Services 203,295 196,032 7,176 67 1
Sundry 15D 150
Fixed Assets 106,349 88,147 19,236 365
1,608,289 1,448,958 $8,623 708
rotNParks b Recreation 4 3,155,013 4 3,085,171 4 64,817 4 5,225
4
GRAND TOTAL GENERAL FUND 133,993,112 133,199,427 1 628,829 1 174,858 1
1t4-
Comprabansiva Annual Flnanclol Repot
f w
Ater n x 1 32 x
0 '
0
CITY OF DENTON, TEXAS 1
I
1 FEDERAL ENERGY REGULATORY COMMISSION SUPPLEMENTAL INFORMATION
l ELECTRIC UTILITY SCHEDULE OF ASSETS, LIABILITIES AND CAPITAL
f ELECTRIC UTILITY SCHEDULE OF NET INCOME
ELECTRIC UTILITY SCHEDULE OF BUDGET AND ACTUAL EXPENSES
FOR ELECTRIC OPERATING FUND
FOR THE FISCAL YEAR ENDED SFPTEMBER 30, 1997
(UNAUDITED)
The schedules presented here reflect the Federal Encrgy Regulatory Commission (FERC)
format and basis of accounting. The FERC basis of accounting Is not GAAP, This FERC financial
presentation reflects information for the Electric Operating Fund only.
1
I
li
• 116
3
CompnhMvlrrr Annul FlnmdN Report
25x10 32x ❑
0
o<e.nrea '
0
h
CITY OF DENTON, TEXAS
ELECTRIC UTILITY SCHEDULE OF ASSETS, LIABILITIES AND CAPITAL • (UNAUDITED)
ELECTRIC OPERATING FUND
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
ASSETS AND OTHER DE91TS September 30, 1997 September 30, 1996
Elactrk Utility Plant
Electric utility plant and adjustments 1107,813,363 $103,961,265
Construction work In progress 2,342,765 1,139,998
Less Accumulated provlslon f r II
deWeciation, amortization and depletion 165,860,678? 162,650,2601
Net Elactrk Utility Plant 44,295,440 42,451,001
Other Property and Investments
Investment in associated enterprises 3,781,784 4,831,784
Total Other Property and Investments 3,781,784 4,831,784
Current and Accrued Assets
Cash, working funds and lfwwments 62,769,198 49,046,820
Notes and other receivables 1,092,662 462,454
Customer accounts receivables 14,000,996 12,843,240
Less, Provision for uncollfctble accounts 17,027,012; (6,766,266)
Prepsymeal s 9,555
Fuel stock and expc,,ses undistributed 697,707 916,784
Accmd utility revenues 4,569,834 3,710,320
Miscellaneous tuner. and accrued assets 675,761 1,163,067
Total Currant wO Accrued Assets 66,989,035 81,385,974
Deferred Olutl
Unamortizecdebt exranses 237,967 258,690
Told Dalerred Debits 237,987 258,690
Total Assets and Other Debits 1116,284,227 $106,927,449
I
•
• 116
CtmmprMensiva Annual Flnandal Report !
25,1.10 32x10
Oman"
o
{
r.iCa A9W
I
ti1TY OF DENTON, TEXAS
I
LIABILITIES AND OTHER CREDITS September 30, 1997 September 30, 1998
I Preprietry Capital
Miscellaneous capital 1 423,939 1 463,017
Retained earrogs 91,108,149 83,277,956
Total Proprlatary Capltal 91,532,088 83,742,973
Lon¢Tarm Debt
Bonds 18,205,914 20,168,711
(Lessl unamortitation discount on long-term debt 1114,0001- (123,7091
Total Long-term Debt 18,091,914 20,033,002
Currant and Accrued Liabilities
I Accounts payable 3,SOO,833 2,610,721
Customer deposits 1,186,424 1,168,167
Irlereit accrued 333,680 374,868
j Miscellaneous current and accrued liabilities 639,288 _ 1,007,718
Total Currant and Accrued Llabl6tles 6,660,226 6,161,474
Total Lhbhlties and Other Credits 1116,284,227 9108,927,449
I
I
J%O
f
117
Comprehenslva Annual Flnandol Report
?5x10 32XIO
w.
A
as~riawe
:max
CITY OF DENTON. TEXAS
I
I
I
II
l~
I
f
i~
Comp ahonalva Annual M"al Report I I
25~C.7 32x1Q
•
o
O
CITY OF DENTON• TEXAS j~
I
ELECTRIC UTILITY SCHEDULE OF NET INCOME • (UNAUDITED) {
ELECTRIC OPERATING FUND
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1997
I Year Ended
[4 September 30, 1997 September 30, 1996
` ELECTRIC UTILITY OPERATING REVENUES $66,632,657 $63,048,226
Operation expenses 51,024,366 49,862,117
Maintenance expenses 2,316,229 3,070,753
Depreciation expenses 3,261,309 3,087,824
Taxes and tax equivalents 4,914,705 2,964,197
Total Electric Ud9ty Operating Expenses 61,616,609 58,984,891
I Eleclrtc Utility Operating Income 5,115,948 4,061,336
Other electric income 3,856,109 4,340,955
Other electric deductions 1906,7461 1878,9661
Total Other Income 2,949,363 3,461,989
Electric Utiky Income - 8,055,3', 1 7,623,324
j Income deductions from Interest on long-term debt 1,052,068 1,176,773
Other income deductions 36,660 63171
Total Income Deductions 1,087,726 1,269,744
Not Income 1 6,977,685 1 6,263,580
• 119
Comprehensive Annual Flnervold Report
2 ❑ 32X10
0
0
F.LRk,q
CITY OF DENTON. TEXAS
ELECTRIC UTILITY SCHEDULE OF BUDGET AND ACTUAL EXPENSES • tUNAUDITEDI
ELECTRIC OPERATING FUND
FOR THE PERIOD ENDED SEPTEMBER 30, 1997
plant Operation
Expenses Expenses
ELECTRIC PLANT IN SERVICE:
Production plant 1 67,604 1
Transmission plant 60,907
Distribution plant 3,800,783
General plant 425,305
Total McWo Plant 4,354,599
POWER PRODUCTION EXPEf7SES:
Steam power generation 1,663,458
Fuel 6,766,545
Hydraulic power generation 205,257
Purchased power 38,974,024
Total Production Expenses 47,809,284
TRANSMISSION EXPENSES 1,903,340
i
DISTRIBUTION EXPENSES 2,796,938
CUSTOMER ACCOUNTS EXPENSES' 1,212,652
CUSTOMER SERVICE A
INFORMATIONAL EXPENSES 270,391
ADMINISTRATIVE i GENERAL EXPENSES' 3,208,966
PAYMENT IN LIEU Of TAXES IROI) 4,914 705
NONOP?-UITNO EXPENSES:
Print Ial payments-bonds 1,950,797
Interest on long-term debt 1,062,822
Interest, customer deposits and outer 35,660
h Donations 234,620
. Non-utility operations 739,214
Total Nonoperadng Expenses 4,023,073
TOTAL EXPENSES 14,354,599 168,145,349
I
i
' includes administrative transfer to general government
120
Comprobsnshve Annual Flnanelat Report I
I
T 75 K 10 32XIII i
s
• a
CITY OF DENTON, TEXAS
I variance-
Maintenance Total Total Favorable '
Expenses Expenses Budget IUnlavorable)
f 11, 61,604 6 45,000 1 122,604)
60,907 118,650 57,743
3,800,783 3,606,343 1194,4401
+ 425,305 695,136 269,831
4,353,599 4,465,129 110,530
I
789,918 2,553,376 3,437,760 784,374
4 6,768,545 8,310,924 1,544,379
l 41,092 246,349 236,691 (9,458)
38,974,024 37,865,750 11,108,274)
831,010 48,640,294 49,851,315 1,211,021
25,648 1,928,988 2,093,464 164,496
1,459,136 4,256,074 4,670,743 314,669
1,212,652 1,233,793 21,141
278,391 301,807 23,416
105,099 3,312,065 3,783,496 471,431
I 4,914,705 4,914,705
1,950,797 1,950,797
1,062, 822 1,062,817 15)
35,660 45,000 9,340
234,520 107,900 1128,820)
739,274 844,897 105,623
• 4,023,073 4,011,411 (1 1,F1,41
l 12,420,893 172,920,841 !75,225,883 12,306,042
• ~ ~ d O
I
121•
Corr4w0enslvs Annual FN+anclsl Report
a~ n 32x10
s
o
I
-CITY OF DENTON. TEXAS
I
E
~I I
• 122
Compohwsiro Annul FNantld Ropat
(l
i
25 x 10 32X
1
'i{57®if
0
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I
STATISTICAL SECTION
{UNAUDITED)
I
r~
1
I
127•
r, x
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ANN"
0
l
•n."Ws
_CITY OF DENTON, TEXAS {
GENERAL GOVERNMENT EXPENDITURES f
BY FUNCTION 41)
LAST TEN FISCAL YEARS ff
l~
Fiscal General Public Public
Year Goverwient Safety Works
1988 1 8,468,435 4 81316,904 14,040,489 I '
1989 10,842,100 9,150,314 4,367,287
1990 10,470,382 10,184,816 4,228,457
1991 9,867,659 10,982,759 4,612,406
1992 10,678.876 11,497,189 4,318,088 `i
1993 10,733,969 11165718D9 4,722,645 I
1994 !,773,398 11,917,580 4,123,627 k
1995 10,074, 911 12,604,521 4,374,433
1996 11,610,932 13,951,797 4,396,384
1997 11,989,016 15,379,251 6,040,465
(1) Includes General, Special Revr •r;•, and Debt Service Funds
i
.
I
124
Comprehensive Annual Flnanclsl Rspon I I
I
?5x ❑ 32XIO
I CITY OF DENTON, TEXAS
I
I T01a 1
Parks and
Recreation Capitol Outlay Debt Service Total
1 12,306,053 1 441,593 14,164,783 421,747,257
2,397,948 403,633 5,508,631 32,669,813
i 2,645,692 574,721 4,586,442 32,690,610
2,649,067 234,782 4,819,773 33,165,448
2,814,673 466,650 4,415,289 34,309,023
2,750,109 428,22 4,509 919 34,902,959
2,868,169 640,183 4,812,285 33,041,142
3,017,813 1,123 650 a ra'J,888 30082,222
3,344,822 1,069,359 4,960,963 39,334,257
` 3,697,577 1,187,069 4,906,023 42,200,006
1
t
j
e ! ~ o •
• u6 •
Cornprohanalre Annual Manclal Report I
f
25 32 x D
0
GTY OF DENTON, TEXAS_
GENERAL REVENUES BY SOURCE III '
LAST TEN FISCAL YEARS
Licensee
Fiscal and Franchise Fines and
Year Taxes Permits Fees Forfeitures
1988 117,394,835 1211,999 $ 650,879 11,144,911
Mill 18,574,210 222,768 695,142 1,232,768
1990 18,996,832 261,080 $77,168 1,257,651
1991 19,766,479 243,070 614,940 985,532
1992 19,790,132 293,621 760,487 1,037,711
1993 20,932,369 358,319 722,861 1,313,167
1994 21,758,706 418,693 5.219,164 1,195,427
1995 22,099,228 388,214 6,112,849 1,652,840
1996 22,687,299 672,676 8,067,244 1,574,050
1997 24,571,249 521,642 6,692,694 1,849,082
111 Includes General, Special Revenue and Debi Service Funds
I
k I
1
126.
Comprehensive Annual Financial Rol
10 X
s
o
'n
CITY OF DENTON, TEXAS
1
I
I Table 2
i
Inter.
Fees for Interest Governmental Miscellaneous
Services Revenue Revenue Revenue Total
1 11,312,662 1600,178 11,179,092 11,006,108 123,600,655
1,298,206 808,280 1,681,445 2,073,450 26,486,255
1,297,881 748,200 1,460,669 1,465,608 16,105,107
1,267,836 643,722 1,244,634 995,253 26,772,466
1,405,187 688,152 1,371,442 111,836 26,008,574
t 1,433.620 601,958 2,100,947 1,097,775 28,661,128
t 1,578.713 428,11 G3 1,634,115 1,008,893 33,440,034
1,747,684 737,282 2,719,958 1,295,034 36,713,125
1,848,307 813,429 3,375,210 2,332,969 39,167,184
2,101,049 744,612 3,273,674 1.102,438 40,756,640
Comprehensive Annual finsnelal Report
I
2h x Icy 32XIO
e
CITY OF DENTON, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS j
Fiscal Total Current Tax Percent of Levy Delinquent Tax
Year Tax Levy I11 Collections Collection Collections
1968 112,199,455 111,741,034 98.30% 1313,375
1989 12,646,346 12,281,184 97,11 441,851
1990 13,167,415 12,719,235 95.80 336,907
1991 13,7161 13,343,005 91.28 203,087
1992 13,496,916 13,188,350 97.71 301,984 1
1993 13,732,609 13,451,202 9716 340,382
1994 14,023,943 13,513,826 98.60 194,761
1995 11,090,169 10,930,071 98.66 172,279
1998 11,078,657 10,953,058 9818 224,606
1997 11,465,710 11,316,204 98.70 160,366
111 Denton Central Appraisal Dsbict
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f
Ii
1
CcTprshnrolva Annusl Ananclal Ripon I
25 n Ia 32X10
0
CITY OF DENTON, TEXAS
I
t
I Table 3 '
Outstanding
Total Collections as Delinquent Taxes
Total Tax a Percent of Outstanding - at a Percent of
Collection Current Levy Delinquent Taxes Current Levy
$12,054,409 ^9817% $1,064,131 8.73%
` 12,723,015 100,61 1,133,897 817
1 13,068,143 99.16 1,276,664 8.69
13,545,892 98.76 1,610,683 11.74
13,490,340 99.95 836,015 811
13,791,584 100,43 942,322 8.86
14,008,686 9990 912,342 6.61
11,102,355 100.21 845,352 7.64
11,177,862 100.91 722,256 6.52
11,476,570 100,10 723,406 611
. I ,
129•
CompshaWve Annual Manclel Report
3~ ~r, ILL 37x v
Ohl"
•
a
CITY OF DENTON, TEXAS I `
l
ASSESSED AND ESTIMATED ACTUAL VALUE OF
TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Peal Property Personal Property
mmlp ~
Fiscal Assessed Estimated Actuat Assessed Estimated Actual
Year value Value Value Value
1598 x41,768,860,455 $1,764,308,963 1291,433,722 4292,353,014
1989 1,833,449,786 1,829,131,266 304,911,169 304,192,988
1990 1,776,614,895 1,768,819,125 382,386,866 360,798,7F6
1991 1,891,271,530 1,732,004,107 345,331,765 365,078,017
1992 1,830,243,815 1,845,917,473 321,060,675 324,147,691 `j
1993 1,559,265,561 1,676,490,434 332,456,607 336,129,192 III)
1994 1,533,929,030 1,548,726,334 326,667,239 328,384,012
1996 11698,657,980 1,e26,199,300 344,486,297 360,227,452
1996 1,649,535,236 1,672,452,535 370,223,523 375,367,130 f
1997 1,720,508,423 1,7d4,697,930 394,807,671 404,994,187 }
Information provided by the Denton Central Appraisal Oistrict.
Certified Appraisal Aoll. II
-44 a
I
r
f
•130•
Camp»henslve Annual Flnenclel Atpat
_ i
32x s
t
o
_ CITY OF DENTON, TEXAS
I i
Table 4 '
I Toul ~I
I Ratio of Total
Estimated Actual Assessed to Total
Assessed Value Value Estimated Actual
I 12,050,294,577 12,058,701,977 10012%
2,138,360,945 2,133,324,224 99,76%
I 2,139,001, 501 2,129.615.882 99.66%
2,038,603,286 2,094,082,114 102.82%
11951,304,490 1,970,085,164 100.96%
11891,712,188 1,912,619,888 101.10%
I 1,859,596,289 11676,109,348 10013%
1,943,044,277 1,975,426,762 10117%
2,019,768,769 2,041,819,765 101.39%
I 2,116,313,994 2,169,892,097 102.68%
I
I
•131•
Comprahanslva Amnual ►Insncfal AsW
"5A ❑ 32xill
0
CITY OF DENTON, TEXAS
Tebl6 5
PROPERTY TAX RATES AND TAX LEVIES
DIRECT AND OVERLAPPING GOVERNMENTS
LAST TEN FISCAL YEARS
j
TAX RATE{ IPu 1100 of Assessed Valuation]
i
Fiscal school
Year city 0111rict county Seta Total `
f
1911 09024 0.770 2254 00 1,5182
1989 0.1921 0.630 .2260 .00 1.6417
1090 0,8113 1065 2410 00 1,9243
1001 0.6561 1.229 2647 .00 2.1476
1992 0,6161 1,380 .2644 .00 2,3496
1993 07110 1,470 .1924 .00 2.4604
1094 0,7470 1650 .2094 ,00 7.6073
1916 0,6600 11277 .2600 100 23786
1098 0.5409 1,6520 .2784 .00 2,3717
1997 06214 1.8007 .2660 00 2.4660
TAX UVAII '
Fiscal school
year City District County biota Total
lost $12,112485 418,184,707 121,497,470 1 1 61,114,752 I
1010 12,646,346 20,009,313 22,945,164 58,100,603 I
Iota 13, 147,411 26,007,760 24,114,3111 63,810661 I:I
lost 13.711.332 21,076,176 27,113,048 60,701,166 I f
1902 13,496,016 29,677,616 21,910,065 11,105,480 1777
1993 13,732,600 33 28A,406 20,914,164 76,031,161 ! E
1094 14,023,943 13,652767 32,164,363 71,731,003
1995 11.090,160 32,661,131 71,134,101 76,06111
1006 11,011,66) 31,100617 77,176.113 .13443,211
log? 11,466,110 43.410 520 36,011.]16 00913,606
source, City of Denton and Denton County Tao ollicaa f
' li Values as of 5aoumhu 30 IfII 9 '
~ f
i1
it
•172• ~ i
• Compeahansir6 AnnuM FMencIN IlsDOr!
D
32X
0
I '
~I
I CITY OF DENTON, TEXAS
Table 0
I
1 SPECIAL ASSESSMENT COLLECTIONS
LAST TEN FISCAL YEARS
1
Total
Delinquent Outstanding
Current Current Ratio of Assessments Current end
Fiscal Assessment Assessments Conectfons to Cotlections Delinquent
Year Due Collected Amount Due Adjustments Assessments
` 1989 490,711 $188,518
1989 1,765 188,753
1990 97,036 69,717
1991 48,246 41,471
1992 1,370 40,101
1993 33,072 7,029
1994 2,421 41608
1995 3,630 1,018
1 1996 1,078
tool
I
•133• I
Comprahanslre Annual rinamclal ROOM
2 x. 32 x
71
•
0
CITY OF DENTON. TEXAS
i
Ih II
RATIO OF NET GENERAL BONDED DEBT
TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
LAST TEN FISCAL YEARS E
Ending t
Fiscal Assessed Value Gross i
Year Population iin thousands} Bonded Debt 11)
1988 65,823 12,068,761 128,764,769 i
1919 68,011 2,133,324 30,770,309
11`090 88,270 ' 2,129,816 30,933,609
1991 66,470 2,094,082 28,131,339
1992 66,902 1,910,063 28,773,609
1993 67,422 1,912,819 30,971,048 (I
1994 68,650 1,675,109 33,240,605
1995 69,650 1,875,428 33,152,496
logo 70,450 2,041,819 38,884,478
1997 71,450 2,169,892 31,000,813
01 Excludes general obligation bonds pledged by solid waste revenues
1990 Census
!i
•134•
Comprehanslve Mnus! Flnanclal Report
7.5 x ill 32x10
•
0
l
CITY OF DENTON, TEXAS
I I l
j
Table 7
I
I
Patio of Net
Less Debt Service Bonged Debt to Net Bonded Debt IV
Funds Net Bonded Debt Assessed Value Per Capita
11,912,928 126,861,831 1.31 409
1,132,060 29,638.249 1.39 449
t 722,478 30,211,033 1.42 456
II 309,526 17,821,833 113 419
344,335 18,429,174 1.44 415
322,644 30,B48,205 1.60 455
322,763 32,917,842 1.78 460
1 704,904 32,447,594 1.64 487
1 602,167 38,002,311 1176 611
604,760 36,496,053 118 511
1 I~
n
1
I
I
jV
• 139
Comprehenslvs Annual Flnenolal Report
- f~.!
~'WC~ 3x
01
e '
0
CITY OF DENTON, TEXAS
Table 8
COMPUTATION OF LEGAL DEBT MARGIN
SEPTEMBER 30, 1997
Net Assessed Value 12,053,877,686
Plus Exempt Property Total 116,314,431
Total Assessed Value 12069.892,097
D,bt l l - No debt limit la mandated by law
but the City does recogn,,e six percent as
an economic iimlitticn 1 130,193,426
Amount of debt applicable to debt limit •
Total general obligation bonded debt 124.791,730
Less general obligation bonds pledged by
sanitation revenues 1430.8711
Certificates of obligation 12,839,954 37,000,813
r
Less • Amount in debt service fund available
for payment of principal 504,760
Tate Amc;;r.t M Debt Applicable to Debt Limit 36,496,053
Legal Debt Margin 1 9697,473
x f Ir
. I ,
4
~ f f 1
r
1
• 138
Comprehensive Annual hianctat Report
11 111101111 all
, a' y Y X' 10 3 2 X F]
M
r
•
" V
1,11Y OF DENTON. TEXAS
I Table 9
I
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
SEPTEMBER 30. 1997
Percentage Amount
Net Debt Applicable to the Applicable to
I Jurisdiction Outstanding City of Denton 11) City of Denton
City of Denton $37,431,684 100.0% 1; 37 431,684
I Denton Independent School District 94,347,182 84.0 79,201.633
Denton LOWY 64,220,658 21.4 13,743,220
Total $130,428,537
I 11) The "Percentage Applicable to the City of Denton" Is based on the relative assessed values within the City of
Denton,
137-
Comprahansiva Annual Financial Pali
.1` e,. 2 5 'k I 32 X O
a
xrW~at
O
CITY OF DENTON, TEXAS
1
Table 10
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR
GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES (1)
LAST TEN FISCAL YEARS
Ratio of Debt
Service
Fiscal Interest and Total Expenditures
Year Principal Fiscal Charpu Total Debt Service Expenditures _(percent)
lose 12,140,773 12,024.010 04,164,763 027,747,251 16.01%
1989 3,314,16! 1,194,464 6,608,631 32,669,1113 10.68
1990 2,263,092 2,323,360 4,586,441 32,690,510 1403
1091 2,714,668 2,105,105 4,819,773 33,165,468 14.53
1992 2,667,107 1,849,102 4,416,269 34,309,623 12.87
1993 2,646.056 1,963.861 4,609,919 34,802,959 1296
1094 3,067,565 1364,720 4,812,285 33,968.116 13.37
Me 3,0951656 1,491,032 4,686,888 36,762,222 12.62
1996 3,549,515 1,411,446 A,960,953 30.334,257 12.111
1097 3,631,417 1,373,606 4,906,023 42,200,006 11.63 of
Ile Includes General, Special 9evsrma and Debt Service
11,
s
i ,
o •
138 •
Co Wallenelve AnnuN Firianefal Papal
Al A
75 32x
s
0
CITY OF DENTON, TEXAS
1
I I
I
t
ZIP/*
d~ •
II ~ s
i
•139• f
Comprahmolva Annual FinMeial Report
l '
•
o
CITY OF DENTON, TEXAS I
RE"VENUE BOND DEBT SERVICE COVERAGE
LAST TEN FISCAL YEARS
Net Revenue
Fiscal Operating Direct Operating Available for Debt
Year Revenue Expenses 111 Servlce l
Utility System 1988 $73,383,556 $61,203,158 t12,180,398
1989 77,365,137 60,247,323 17,117,814
1990 78,124,599 66,569,160 21,555,439
1991 60,469,479 58,731,232 23,738,247
1992 82,214,582 60,613,282 21,601,300 `
1993 85,305,207 63,733,847 21,571,360
1994 92,835,414 64,658,746 28,178,668
1995 92,501,469 72,133,031 20,368,436
1996 95,370,824 74,322,793 21,048,031
1997 97,333,766 72,669,955 24,663,811
I ~
111 Excluding Depreciation }
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•140•
Comprahanslvs Annual Finan*1 Rapai
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! CITY OF DENTON, TEXAS
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' Table 11
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Debt Service Reduirements
I Principal Interest Total Coverage
12,115,000 13.338,428 1 5,453,428 2.23
2,250,000 3,388,817 5,638,817 3.04
2,430,000 4,274,233 6,704,233 3.22
2,900,000 4,545,856 7,445,856 3.19
3,505,000 4,250,138 1,755,138 2.79
I 3,535.000 4,305,013 7,840,073 2.75
4,015,000 3,577,695 7,593,595 3.71
4,295,000 3,249,141 7,544,141 2.70
4,385,000 2,9r2,911 7,337,911 2.87
I 5,380,000 5,2'0,014 10,660,014 2 31
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141
Comprehensive Annw1 FlnanclW Repon-
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CITY OF DENTON, TEXAS l
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PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
LAST TEN FISCAL YEARS
Commercial Construction 111
Fiscal Property Value Number
Year hn thousands) of Units Value
1988 12,056, 761 113 $21.927,481
1989 2,133,324 150 31,375,513
1990 2,129,615 134 6,427,910
1991 2,094,082 70 6,149,572
1992 1,970,065 182 40,336,281
1993 1,912,619 211 30,82OM4 i
1994 1,976,109 189 30,316,353
1995 1,975,426 179 14,560,423
1996 2,047,819 199 58,729,640
1997 2,169,892 167 41,085,727
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111 City of Denton Planning and Development Department Estimate f r
121 Clinton Chamber of Commerce Estimate throuoh 1994 I
Bank Statement of Condition 1995-97 `
(3) Bank deposits for Bank One of Texas not available at time of pubGCation f
(4) Bank deposits for Bank One of Texas and NationsBank not available at time of publication
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ComprahHrslva Annual Flnat id Report l
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t CITY Of DENTON. TEXAS
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Table 12
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1 Residential Construction 111
I Bank 121
Number Deposits
of Units Value Gn thousands)
304 124,577,039 $ 584,171
258 21,241,087 565,629
316 20,249,571 714,892
167 12,414,459 565,630
e 189 22,197,221 663,882
I 311 28,285,720 671,821
398 33,793,717 619,211131
492 36,330,81.' 728,100131
460 35,586,747 843,527131
I 784 50,384,468 1,314,771 (41
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•143•
Comprahenslve Annust Financial Report
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CITY OF DENTON, TEXAS {
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Comprahansiva Annual Financial Report I
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I CITY OF DENTON, TEXAS
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k Table 13
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PRINCIPAL TAXPAYERS
SEPTEMBER 30, 1997
Percentage of
I 1996 Total Taxable
f Taxable Assessed Assessed
Name of Taxpayer Kind of Property Valuation ' Valuation
Peterbilt Motors Diesel Trucks $ 46,228,753 2.130%
General Telephone Telephone Utility 38,543,031 1.776%
NotamilifemarklEPIC DevJ Hospital and 31,353,267 1.445%
Epic Prop./Denton Regional Professional Building
Medical Center
Tetra Pak Packaging 30,532,549 1.407%
Manufacturing
Texas Instruments Electronic Manufacturing 23,928,459 1.103%
I
Golden Triangle Mall Shopping Mall 17,944,277 0.827%
Andrew Corporation Electronic Equipment 16,964,202 0.782%
Safety Kleen Corp. Recycled Industrial 12,664,011 0.684%
Solvents
Acme Brick Brick Manufacturing 12,324,665 0.588%
Albertsons, Inc. Grocery Stores and 11,476,094 0.529%
Warehouse _
$241,958,318 11.161%
1 Note: Total assessed valuation as of September 30, 1997 was $2,169,692,097
II ,
Source: Demon Central Appraisal District Reported Property Value, 1996
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145
Comprarm:lve Annual Flnanclal Report
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CITY OF DENTON, TEXAS 1
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SCHEDULE OF INSURANCE IN FORCE
SEPTEMBER 30, 1997
The City of Denton is largely self-insured. This includes but Is not limited to the first $50,000 of each
property loss and $10,000 of each vehicle loss. However, liability policies are purchased for airport,
paramedic/EMT, recreation program and employee dishonesty exposures. Exposures that are not retained r
by the City are covered by various insurance companies including:
Expiration
Insurance Company Premium Policy No. Date
1. Arkwright $197,084 08020140 10101198
2, Associated Aviation Underwriters 4,950 AL1208561 09130198 I r
3. Western World Insurance Company 5,280 NGLOO888 01131198 1 i
4. Western Heritage insurance Company 1,154 SCP.0255351 08123198
E. Western Heritage Insurance Company 1,459 SCP-0247334 09107198
8. Empire Indemnity Insurance Company 27,945 CL442839 07117198 {
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Compre3reneive AnnuY flnenciel Report
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I CITY OF DENTON, TEXAS
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i Table 14
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Amount of I
Coverage Limit
All Risk Coverage $252,001,000
(including boiler/machinery, commercial crime)
1 Airport and Hanger Keepers Liability 5,000,000
Ambulance- Prof essiona Liability 500,000
I Recreation After School Action Program . MILK 1,000,000
Recreation After School Action Program • Deoia 1,000,000
Public Officials Liability 11000,000
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Comprehenslw Annual Finenotal Repot
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CITY OF DENTON, TEXAS
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DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS j
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Per Capita
Fiscal Year Population 111 income 11) Averago Age
1988 65,623 9,750 271
1989 66,011 12,013 28.2
1990 66,270 • 12,013 • 30.7 '
1991 66,470 12,013 30.7
1992 66,9x2 12,013 30.7
1993 67,422 12,013 30.7
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1994 68,650 12,013 301
1995 69,550 12,013 30.7
1996 70,450 12,013 30.7
1997 71,450 12,013 30.7
11) Flanning and Community Development Department's Estimate t
(2) Denton Independent School District Estimate
731 Texas Wo'klorce Commission Estimate • Denton County i
' 1990 Census I,
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148 •
Cor-Wahansiva Annual Financial Raport
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` CITY OF DENTON, TEXAS
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{ Table 15
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Education Level in Public School Unemployment
School Year 10 1 Ervolimeni 121 Pate 131
15.8 10,180 6.2
I 15.8 10,275 715
15.8 10,696 5.4
15,6 10,960 7.5
15.6 11,233 7.7
e 15.6 11,650 61
F 1611 11,800 6.0
1 16.8 12,100 4,9
15.8 12,512 3.6
15.8 12,777 2.1
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- Comprahanslva Annual Financial Report
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CITY OF DENTON, TEXAS
Table ! 8
MISCELLANEOUS STATISTICAL DATA
SEPTEMBER 30, 1997
Form of Government Councit•Manager
Area 55.18 square miles
Date of Incorporation September 26, 1866
Miles of Streets 260
Number of Street Lights 6,870
Fire Protection:
Number of stations 8
Number of firemen and officers
(exclusive of volunteer firemen) 104
Police Protection;
Number of stations 1
Number of policemen and officers 109
Municipal Ftectric Department:
Number of customers 32,685
Annual electric production 938,686,000 KWH
Average monthly consumption 16,181,379 KWH
Mites of electric line 557.9 miles
Municipal Water Department:
Number of Customers 17,287
Annual water production 4,688,292,000 gallons
Average monthly consumpt sn 384,204,535 gallons
Miles of water main 339 miles I f
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Municipal Wastewater Department.
Number of customers 17,271 E
Miles of line sewer 344.0 miles
Annual wastewater discharge 4,700,694,000 gallonslyear
guildirg Permits Issued 667
Recreation and Culture:
Number of parks 17 with 726 acres
Number of bbrari!9 2
Library items in circufstion 673,094
'Employees IAP Funds):
Exempt 177
Nonexempt W
Told 897 `
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' Does not include seasonal employees.
• 160
Comprahenti Annual Financial Repart
10 32xiC]