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I O AUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION
FIREMEN'S RELIEF AND RRTIREMFNT FUND
CITY OF DENTON, TEXAS
December 31, 1971
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CONTENTS
' Audited Financial Statements; Page 3
1 Accountants' Report 4
Statement of Assets Available for Benefits 5
Statement of Changes in Assets Available for Benefits
Other financial Information:
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of Investments
Schedule
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ERNST & ERNST
4500 FORt Y%ORTH NAtiDNAL BANM SLOG
FORT WORTH. TEXAS 76502
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Board of Trustees
Firemen's Relief and Retirement Fund
City of De,•.ton, Texas
' We have exemine, the Statement of Assets Available for Benefits of the
Firemen's Re-lie' and Retirement Fund of the City of Denton, Texas, as of
December 31, 1911, and the related Statement of Changes in Assets Availa-
ble for Benefits for the, year then ended. Our examination was made in
accordance with generally accepted auditing standards, and accordingly
included such tests of accounting records and such other auditing pro-
cedures as we considered necessary in the circumstances, A similar
examination was made for the preceding period.
In our opinion, thr. Accompanying Statement of Assets Available for Benclits
and Statement of C?ian ea in Asses Available for Benefits present fairly
the aesets available for benefits of the Firemen's Relief and Retirement
' FUn9 of the City of Denton, Texas, at December 310 1911, and changes therein
for the year then ended on a basis consistent with that of the preceding
period.
The other financial information included in the Schedule of Investments was
derived from the accounting records tested by us as a part of the auditing
procedures followed in our examination of the aforementioned finan,.tal otate-
ments, and in our opinion it is fairly presented in all material respects in
relation to the financial statements taken as a whole.
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March 30, 1912
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' STATEMENT OF ASSETS AVAILABLE FOR BENEFITS
FIREMEN'S RELIEF AND RETIREMENT FUND
CITY OF DENTON, TEXAS
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1 December 31 December 31
1971 1970
Cash $ 49675.23 $ 49350.77
1 Investments:
Certificates of deposits 5512.j4.70 550254.70
1 Certificates of savings 310264.92 300000.00
Bonds 910000.00 810000.00
Common stocks, at cost (quoted market
1971 - $47,200,00; 1970 - $21,331.50) 43,915.71 17,824.91
221,435.33 1849079.61
Interest Receivable on investments 41338.56 49274.83
Due From Other Funds;
Ceneral fund 10759.18
' Payroll fund 4,771.10 19759.18
4,771.10 3,518,36
1 ASSETS AVAILABLE FOR BENEFITS $235.221'0.22 $1969223.51
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STATEMENT OF CNANGEE IN ASSETS AVAILABLE FOR BENEFITS
FIREMEN'S RELIEF AND RETIREMENT FUND
a CITY OF DENTON, TEXAS
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Fifteen
' Year Ended Months Ended
December 31 December 31
1971 1970
Contributions:
Participating employees $ 17,671.88 $ 219707.79
City of Denton, Texas 17,671.88 21,707.79
' ,343,76 43,415.58
Income from investments: 35
Interest 120369.04 110386.89
Dividends on common stock 11398.87 869.87
13,767.91 129256.76
Pro rata ,bare of gross fire insurance pre-
mium receipts tax distributed by the State w 1,359.78 11738.65
50,671.45 57,410.99
Leas:
Retirement benefits 109247,59 10,470.89
Contributions refunded to employees 537.47 2,087.71
Coat of actuarial study 30000.00
Loss on sale of stock 889.74
11,674.80 15,558.60
NET INCREASE IN ASSETS
' AVAILABLE FOR BENEFITS 38,996.65 410852.39
Assets available at beginning of period 196,223.57 154,371.18
' ASSETS AVAILABLE AT END OF PERIOD $2359220.22 $196,223.57
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SCHEDULE OF INVESTMENTS
FIREMEN'S RELIEF AND RETIREMENT FUND
CITY OF DENTON, TEXAS
December 31, 1971
t Interest Maturity
Rate Date cost or Par
Certificates of Deposits
Bank 5-3/4J. 1-26-72 $ 15,000.00
Denton County National
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Dent,)n County National Bank -3/4 3-20-72 5,254.70
First Nation:.1 Bank of Denton 5-3/4 1-20-73 5,000.00
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' First National Bank of Denton 55--3/43/4 12•-•1920--7273 5 5 1,,000000.00
First State Bank of Denton
First State Baak of Denton 5-3/4 -72 5,000.00
University State Bank of Denton 5-3/4 1.2211-73 5,000.00
University State Bank of Denton 5-3/4 10-30-72 5_ ,000.00
55,254.70
Certificates of Savings 6 1-1-73 51000,00
Denton Federal Savings 6 Loan
Denton Federal Savings 6 Loan 6 1-1-73 11,264.92
Borth Texas Savings & Loan Association 6 1-1-72 150000.00
' x31,264.92
Corporate Bonds 8-2/5 1974 500000.0)
Federal Home Loan Bank Const. Bonds 9 1975 50000.00
Columbus S Southern Ohio Electric 9-1/8 1976 3,000.00
Southern Natural Gas
Southwestern Bell Telephone 8.3/4 2007 9,000.00
' International Harvestor Co. 8-5/8 1995 4,000.00
Public sorvice Electric Gas 4 2995 5,000.00
Pacific Northwest Bell Telephone 8-5/8 20 5,000.00
' Tampa E'ectric Co. 7-1/4 2001 1 52000.00
g 2001 55000.00
Iowa Public Service
91,000.00
Number Market
of Shares Value
Common Stocks 100 $ 7, 104, CO 69315.06
Bank of America 100 40650.00 40104.25
Broadway Hale Stores 200 70175,00 70207.12
Ocn,ral Foods Corporation 100 2,887.50 2,948.75
Guli Oil Corporation Do 4,675.00 4,293.93
Kraft.co 100 20700.00 29596.75
Lone Star Gas Co. 100 20050,00 21052.25
' Oklahoma Natural Gas Co. 100 89587.50 80266.07
Schering-Plough 100 7,375.00 60131.53
Standard Oil of New Jersey
$47,200.00 43,915.71
$2.".1,435,33
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