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1971-72
~ r. 1 CITY OF 1 DENTON,TEXAS 0 II 1 1 "The 70P of the Golden Triangle" t e ~ FINANCIAL REPORT ~ FfSCAL 1971-1972 u 1 E.UDITED FINANCUL STATEMENTS AND OTHER FINANCIAL INFORMATION ' CITY OF DENTON, TEXAS September 30, 1972 1 1 e a w a 1 CONTENTS TRANSMITTAL LETTER 1 EXHIBIT AUDITED FINANCIAL STATEMENTS Accountants' Report Page 5 A Condensed Balance Sheets - All Funds and Account Groups 6 General Fund: ' B Balance Sheet 8 B-1 Statement of Changes in Fund Balance 9 B-2 Summary of Revenues and Expenditures and Encumbrances 10 e B-3 Estimated and Actual Revenue 11 B-4 Appropriations ana Expenditures and Encumbrances 13 ' Special Revenue, Trust and Agency Funds: C Balance Sheet 18 Capital Projects: ' D Balance Sheet 19 D•1 Statement of Changes in Reserves for Authorized Ex p e nd i t u r e s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 0 1 E Statement of General Debt 21 General Debt Service Fund: 1 F Balance Sheet 22 F-1 Statement of Revenue, Expenditures and Fund Balance 23 1 Electric System Fund: G Balance Sheet 24 G-1 Statement of Changes in Reserves, Unrealized Increment, Contributions and Retained Earnings 26 G-2 Statement of Operations 228 9 G-3 Statement of Changes in Financial Position G-4 Kstimated and Actual Revenue 66900.4614 31 1 G-5 Appropriations and Expenditures and Encumbrances 32 Water and Sewer Syscem Fund. H Balance Sheet 33 H-1 Statements of Changes in Reserve, Contributions and Retained Earnings Balances 5 3 A H-2 Statement of Operations 3 6 H-3 Statement of Changes in Financial Position H-4 Estimated and Actual Revenue 39 H-5 Appropriations and Expenditures and Encumbrances 40 1 1 1 1 1 r COVIENTS - CONT' D INHIBIT AUDITRD FINANCIAL STATEMENTS - CONT'D r Intragovernmental Service Funds: 1 Balance Sheet Page 42 43 I-I Statement of Changes in Invested Capital , L-2 Statement tf Upe:ations " " " " I . - 0 - 4 a . ,44 45 J Statement of General Fixed Assets K Notes to Financial Statements G6 46 L Bonds Payable - All Funds M Future Debt Requirements - All Funds 50 N Revenue Bond Debt Coverage ...r........ 52 ' 0 Investments - All Funds 53 ' TABLE STATISTICAL TABLES I Insurance in Force lI Assessed Valuations and Tax Assessed ! r III Tax Assessment and Collection 58 IV Miscellaneous Statistical Data 59 , r r r i City of Denton Municipal Building, Denton,ki-tis 76201 e February 2, 1973 ' Mr. Jim White City Manager City of Denton Denton, Texas Dear Mr. White: t The annual Financial Report of the City of Denton, Texas for the fiscal year ended September 30, 1972 is submitted herewith. Accounting System and Reports ' The city's accounting records for general governmental operations are maintained on a modified cash basis, with the most important revenues being recorded when earned and expenditures being recorded when incurred. An exception to this is the accounting for taxes as this is on the accrual basis. Accounting records for the city's utilities and other enterprises are maintained on a full accrual basis. t Budgetary control is maintained by a quarterly allotment system and the encumbrance of allotment balances with purchase orders prior to their release to vendors. Purchase orders which exceed allotment balances are not released until additional appropriations are made available. The Municipal Finance Officers Association of the United States and Canada awarded the City of Denton, Texas its Certificate of Conformance for the city's 1964.65 ' Annual Financial Report. This certificate is awarded only to those governmental units whose financial reports substantially conform with the high standards of financial reporting promulgated by the National Committee on Governmental Accounting. The 1971-72 Annual Financial Report submitted herewith continues to meet these standards. General Governmental Functions Revenues for general governmental functions totaled $2,177,443 in 1971-72, an increase of 5.6 percent over 1970-71. General property taxes produced 31.8 percent of general revenues compared to 24.2 percent last year. The amount of revenue from various sources and the increase over last year are shown in the following tabulation: t Mr. Jim White ' Increase Amount Percent Over 1970-71 ' Revenue Source (Thousands) of 'total (Thousandsl Property Taxes and Penalties $ 692 20.0 $193 ' Franchise and Other Taxes 794 23.0 68 Licenses and Permits 46 1.3 8 Fines, Forfeits, and Penalties 173 5.0 (9) Charges for Current Services 372 10.8 8 Utility Fund Contributions 907 26.3 45 Other Revenues 470 13.6 (146) ' $3,454 100.0 $167 Assessed Valuations of 83 million represented an increase of 8.0 percent over the preceding year. The ratio of total collections (current and delinquent) to the current tax levy for 1971-72 was 98.21 percent. The .onscitutional and statutory tax rate limit, including debt service, is 52.50 on each $1.011,00 of assessed valuation. The tax rate distribution for 1970-71 and the preceding two fiscal years is as follows: Purpose 1971-72 1970-71 1969-70 General Fund .8223 .6333 .6501 Interest and Redemption Fund .8777 .8667 .8499 ' Total Tax Rate 1.7000 1.5000 1.5000 Expenditures for general governmental purposes totaled $3,631,410 an increase of 7.3 percent over 1970-71. Increases in levels of expenditures for mayor functions of the city over the preceding year are shown in the following tabulation: ' Increase Amount Percent Over 1970-71 Function (Tho-isands) of Total (Thousands) ' Genernl Government $ 189 5.2 $ (6) Legal 87 2.4 (9) Community Development 208 5.7 (2) ' Civil Defense 24 .7 = Ril,),t of Way 11 .3 Fiar,nce 360 10.0 14 ' Health 6 Sanitation 410 11.3 (32) 1 ' Mr. Jim White Increase ' Amount Percent over 1969-70 Function - Cont'd (Thousands) of Total (Thousands) Police 648 17.8 (4) Fire 444 12.2 (14) Street. & Bridge 672 18.5 272 Parks & Recreation 263 7.2 6 Cemetary 22 .6 (2) Library 83 2.3 15 Airport 7 .2 (8) City-County Health Unit 23 .7 (3) Noil-!e nartmenta1 113 3.1 86 Ot'„er 26 .7 (74) Traffic 41 1.1 8 $3.631 100.0 247 Debt Administralijn The ratio of net bonded debt to assessed valuation and the amount of bonded debt per capita are useful indicators of the city's debt position to municipal management, citizens, and investors. These data for the City of Denton at the end of the 1971-72 fiscal year were as follows: 1971-72 Actual Valuation 207,830,632 1971-72 Assessed Valuation (407, of Actual) 83,132,253 Total General Obligation Debt 603130000 Less: Amount Available in Debt Service (41,425) Net Debt 6,271,575 Ratio Net Debt to Assessed Valuation 7.54 1972 Estimated population 41,000 ' Per Capita Assessed Valuation 2+028 Per Capita Net Debt 153 During the past year, $428,000 of tax bonds were retired. Outstanding Electric Revenue Bonds at September 30, 1972 totaled ^21,050,000. During the past year $735,000 of Electric Revenue Bonds were retired. Outstanding Water & Sewer Revenue Bonds at September 30, 1972 totaled $5,385,000. ' During the past years $195,000 of Water and Sewer Revenue Borrds were retired. 1 1 Mr. Jim Whtte The city's bond.. a.e rated as follows: Moody 's Standard & Poor's General Obligation Bonds A-1 AA Electric Revenue 3onds A AA Water & Sewer kevenue Bonds A A As of September 30, 1972, $1,249,344 was on land in the electric reserve fund and the sum of $375,000 was on hand in the water anal sewer reserve fund. These amounts are adequate to meet the requirements as spc:cifled In tie bond Lrdinances. ' Cash temporarily idle during the year was invested in time deposits, savings accounts, U. S. Treasury Notes and Bonds. Capital Protects Funds I During the fiscal year ending September 30, 1972, water and sewer revenue bond issues accounted for expenditures of $319,398 in water & sewer capital projects and electrical revenue bond issues accounted for expenditures of $6,429,191 in electrical capital projects. Exfensibn and' improvement funds in the amount of $561,533 were expended for electrical capital projects. Authorized but unissued bonds at September 30, 1972 totaled $14,500,000 as follows: Revenue (electric) $405nn,000 Revenue (water f. sewer) 9,5001000 Capital pro ect fund balances on hand at September 30, 1972 consisted of $2,406,208 in cash. General Fixed Assets The general fixed assets are those fixed assets used in the performance of general ' governmental functions and exclude the fixed assets of utility and other enterprise funds. As of September 30, 1972, the general fixed assets of the city amounted to $129179,611. This amount represents the original cost of the assets and is con- 1 siderably less than their present value. Depreciation of general filed assets is not recognized in the city's accounting system. Utilities System The city's electric and water and sewer system had a successful year and continued to show gains in gross sales, number of customers and riet income. Comparative ' data for the past two fiscal years are presented in the following tabulation: t 1 1 ' Mr. Jim White e Electric System 19]2 1971 Gross Income $5,6611266 $52034,960 Net Income 1,7990575 1,382,011 Income Available for Debt Service 311669155 2,782,477 Largest Annual Debt Service Requirements 1,8240893 1,305,771 Debt Service riverage 1.73 2.13 Water & Sewer System 1972 1971 Gross Income $105770301 $1,346,437 Net Income 3060638 126,437 Income Available for Debt Service 8319703 618,094, Largest Annual Debt Service Requirements 470,888 360,475 r Debt Service Coverage 1.76 1.72 The City Charter requires an annual rdit to be made of the books of account, financial records, and transactions of all administrative departments of the city b1 a Certified Public Accou-itant selected by the City Council. This requirement ' has been complied with and the auditor's c,inion has been included in this repore. The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the entire staff of the Finance Deplirtment. 1 I should like to express my appreciation to all members of the department ho assisted and contributed to its preparation, I should also like to thank your office and the members of the City Council for their interest and support in planning ' and conducting the financial operations of the city in a responsible and progressivz manner. t Respectfully submitted, ' W. fl. BFYA Director of Finance 1 1 1 r-- ' ERNST & ERNST 600 FORT WORTH NATIONAL BANK BLDG FORT WORTH, TEXAS 76102 1 Honorable Mayor, City Council and City Manager City of Denton, Texas ' We have examined the financial statements of the several funds and balanced account groups of the City of Denton, texas, as presented on pages 6 through 47, for the year ended September 30, 1972. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered neces- sary in the circumstances. In our opinion, except for the matters described in Note C to the financial statements, the financial statements appearing on pages 6 through 47 present fairly the assets, liabilit+es, and fund balances of the various funds and components of the balanced account ' groups of the City of Denton, Texas, at September 30, 1972, and sum- marize fairly the City's financial transactions as accounted for in the respective funds for the year then ended, in conformity with generally accepted accounting principT.es applied on a basis consis- tent with that of the preceding year except for the change, with which we concur, in the method of accounting for interest expense on revenue bonds during the construction period as described in Note A. It is further our opinion that the accounting requirements of the bond ordinances, under which the City's general obligation and various revenue beads were issued, have been met. The information presented on pages 48 to 54 was derived from the accounting records tested by us as part of the auditing procedures ' followed in our examination of the aforementioned financial state- ments, and in our opinion, is fairly presented in all material re- spects in relation to the financial statements taken as a whole; however, it is not necessary for a fair presentation of the financial position and financial O.;cnsactions of the several funds and balanced acrojint groups , ' The statistical information presented on pages 55 to 59 was pre- pared by the City and has been included in this report without veri- fication. ' December 150 1972 -5- CONDENSED BALANCE SHEETS - ALL FUNDS AND ACCOUNT GROUPS ' CITY OF DENTON, TEXAS September 30, 1972 t Special Revenue, General Trvst and Capital Fund Agency Funds Projects ASSETS Cash $ $ 10,771 $ 52188 Investments - at cosy plus accrued interest 200000 29148 ' Receivables less allowances of $242,669 85,823 134,025 Due from other funds 115,650 5 134,010 Prepaid insurance 149547 Inventories - at lower of cost or market Restricted assets: Cash Investments - at cost plus accrued interest Due from other funds Proceeds receivable from sale of bons Other Property, plant, and equipment - net Investment in Intragovernmental Service Funds Amount to be provided for retirement of general bonds Amount available for debt service $236,020 $1469949 $139,218 LIASII,ITIES, CONTRIBUTIONS, RESERVES AND FUND BALANCES Cash deficit $361,587 $ $ Accounts payable 34,523 950 4 Accrued interest on revenue bonds Construction contracts and retainages payable 94,825 ' Deposits 5,721 Borded debt and other long-term liabilities Due to other funds 6,660 1400278 449389 ' Reserves 199281 Unrealized increment in valuation of utility plant in service - Note C Investment by General and other funds ' Investment in general fixed assets Contributions: By municipality and governmental agencies 1 In aid of cunstruction Retained earnings Fund balances (deficit) (186,031) ' Commitments and contingencies - Note F $236,020 $1466949 $1390218 (From (From (From EXHIBIT B) EXHIBIT C) EXHIBIT D) ' See notes to financial statements - EXHIBIT K. -6- 1 EXHIBIT A 1 1 Water Intra- General General Debt Electric and Sewer governmental General Debt Service Fund System Fund System Fund Service Fuuds Fixed Asses $ $ 800175 $ $ $ 6040701 $ 22,458 210767 21,767 19317,097 2,142 128,922 657 9,853 18,826 10,232 904 1 311,129 41853,642 471,298 84,894 209000 21,010 8,661 1,500,000 1,000 6,617 1 270905,427 81055,618 663,733 12,1790611 296,596 230,505 1,120 1 6,271,575 - 41,425 1 $60313,040 $ 809175 $34,655,872 $10,327,497 $196139207 $12,179,611 $ $ $ 4,634 $ 2900472 $ $ 2590629 40139 250736 384,128 36,018 5740020 303163 110,127 60313,000 21,0509000 5,4761760 380750 61,572 1249404 81734 1 1,375,470 3750000 7,080 3,435,704 721,616 12,179,611 1 2,461,922 221,910 489926 917,606 793519652 6119013 6289131 41,425 $6,313,000 $ 80,175 $341655,872 $10$27,497 $116130207 $129179.9611 1 (From (From (From (From (From (t'rom EXHIBIT E) EXHIBIT F) EXHIBIT G) EXHIBIT H) EXHIBIT I) cXHISIT J) 1 1 -7- EXHIBIT B CENERAI, FUND 1 BALANCE SIIFET CITY OF DENTON, TEXAS September 30 S ptember 30 1972 1971 ASSETS Cash $ - $ 26,434 ;iae certificates of deposit 20,000 20,000 Accounts receivable (less allowance of $1,576 - 1972; $1,663 - 1971) 5,920 3,726 ia:e.s receivable - delinquent (Icss allowance of $120,334 - 1972; $110)261 - 1971) '9,903 799946 Lase from other funds 115,650 1169738 Prepaid Insurance 141547 15,611 $236,020 $2620455 LIABILITIES, RESERVES AND FUND BALANCE Cash deficit $361,587 S - Accounts payable 74,523 12,337 Accrued payroll and payroll taxes - li2,629 Due 'o other funds 61660 135,279 TOTAL LIABILITIES 029710 260,245 Reserve for encumbrances 19,281 10,979 Fund balance (deficit) - EXHIBIT B-1 (1860031) (8,769) Gj` ITiNGENCIFS - Note F $236,020 $2629455 To EXHIBIT A see notes to financial statements - EXHIBIT K. -8- EXHIBIT B-1 ' GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE CITY OF DFNTON, TEXAS Year ended September 30, 1972 e Balance at October 1, 1971 $ (8,769) Add revenues - EXHIBIT B-2 3,454,148 1 3,445,379 Deduct expenditures and encumbrances - ' EXHIBIT B-2 3,6319410 BALANCE (DEFICIT) AT SEPTEMBER 30, 1972 $ (1869031) 1 1 ' See notes to financial statements - EXHIBIT K. 1 -9- GENERAL FUND EXHIBIT B-2 e SUMMARY OF REVENUES AND EXPENDITURES AND ENCUMBRANCES CITY OF DENTON, TEXAS ' Actual Budget Year Ended September 30 (Revised) 1972 1971 RE:VEti'hES General property taxes: Current S 6890500 $ 6630622 $ 465,006 Delinquent _ 18,000 16,770 20,299 1 Penalties and interest 122000 129180 133300 719,500 692,572 4980605 Other revenues: ' Other taxes 763,192 7932778 725,946 Fees from revenue - produ,ing facilities 360,422 3721052 3419794 Fines and fees 175,575 172,672 181,856 ' Licc_nses and permits 39,375 45,616 38,326 Miscellaneous revenues 1200334 100,753 274,447 Transfers from other funds 1,281,799 1,276,705 1,226,182 ' 21740,697 2,761,576 2,788,55I 3,4609197 3,454,148 31287,156 EXPENDITURES AND ENCUMBRANCES Sa.aries and wages 21315,480 2,2652229 2,240,085 Supplies 164,115 150,238 148,716 Maintenance 2762971 267,534 260,426 Services 453,785 447,470 438,816 Sundry 5,529 11,841 71781 Capital outlay 102,3!0 329,216 148,261 Nondepartmental expenditures 112,700 112,700 26,779 Transfer to other fund for special pro}act - 19,528 93,731 ' Insurance 23,931 27,654 19,037 3,454,821 31631,410 3,383,632 REVENUES OVER (UNDER) EXPENDITURES AND ENCUMBRANCES $ 5,376 $ (177,262) $ (960476) To EXHIBIT B-1 1 See notes r.o financial statements - EXHIBIT K. -1G- GENERAL FUND EXHIBIT B-3 ESTIMATED AND ACTUAL REVENUF CITY OF DENTON, TEXAS Year Ended September 30, 1972 Actual Actual Over (Under) Prior Fiscal Estimated Actual Estimated Year TAXES Current $ 689,500 $ 663,622 $ (25,878) $ 4659006 Delinquent 18,000 16,770 (10230) 209299 ' Penalty and interest 12,000 12,180 180 13,300 719,500 692,572 (26,928) 498,605 OTHER TAXES ' Sales 705,000 734,322 299322 670,220 Franchise - Lone Star Gas Co. 22,569 229569 - 25,022 Franchise - General Telephone - - Co, of the Southwest 330123 33,12? 30,704 Mixed beverages 21500 31W 1,264 763,192 73:0776 30,586 7250946 ' FEES FROM REVENUE-PRODUCING FACILITIES Garbage charges - residential 220,000 224,697 49697 211,255 t Garbage charges - come,:rcial 1090972 116,510 6,538 101,184 Swimming pool 92000 8,414 (586) 80752 Cemetery fees 10700 1,235 (465) 10515 Concnunity building rent 31750 4,421 671 - 69316 Airport 16,000 16,775 775 12,769 360,422 372,052 11,630 3410794 FINES AND FEES ' Corporation Court 170,000 1670315 (2,685) 176,412 Animal pound 3,500 2,494 (19006) 40042 Automobile pound 1,500 21006 506 19350 Police record investigations 75 108 33 - 52 Court cost service fee 500 749 249 175,575 172,672 (.,903) 1819856 LICENSES AND PERMITS Zoning permits and petitions 10200 1,400 200 19145 Tax certificates 21200 2,619 419 2,021 Electric and plumbing licenses 19700 11920 220 11388 Vita' statistics 21500 4,092 19592 2,300 Building permits 24,000 26,705 2,705 239794 Miscellaneous permits 21000 21207 207 19918 ' Loading zones 525 518 (7) 570 Garbage perTjits 51000 51905 905 5,190 Easement 250 250 - - 390375 45,616 6,241 38,326 ' -11- EXHIBIT B-3 (Cont'd) GENERAL FUND ' F;STIMATED AND ACTUAL REVEN)L - CONT'D CIT'E' OF DENTON, TEXAS Year Ended September 30, 1972 Actual Actual Over (Under) Prior Fiscal Estimated Actual Estimated Year :115CE1.1.ANEOUS REVENUES Parking meter receipts $ 4,000 $ 4,79I $ 791 $ 4,624 Electric inspections 89000 91143 12143 8,474 Ph.,mbing inspections 11,000 10,101 (899) 10,873 Country fire runs 1,500 840 (660) 2,'119 County radio and identification - - - 31000 ' dents and concessions 6,000 60989 989 5,669 1tr,tchfng fund 59,921 530492 (69429) 500157 Gasoline tax refund 700 888 183 - ' interest income 18,000 19203 (16,797) 4,104 1.1iscellanecus income 7,000 7,070 70 10,084 Paving assessment interest 1,000 1,654 654 1,096 ' Pro-rata receipts - 1,369 1,369 - Fixed asset sales 31213 3,213 - 18,347 Sale of right to purchase warrants - - - 155,000 120,334 100,753 (19,581) 274,447 TRANSFERS FROM OTHER FUNDS F1.ECTRIC SYSTEM FUND Administrative services 277,639 2721882 (4,757) 268,869 Return on r.et invcstmen: 680,388 6809388 - 653,128 WATFE A,YD SF_TWER SYSTEM FUND Administrative services 92,546 90,961 (1,585) 89,623 Return on net investment 226,226 226122'] - 208,031 TRUST AND AGENCY FUNDS Hickory Creek Park 5,000 69248 1,248 6,531 192819799 1,2763705 (51094) 112263182 $3,460,197 $3,454,148 $ (61049) 53,287,156 ' r See notes to financial statements - EXHIBIT K. -12- ' GENERAL FUND EXHIBIT B-4 APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES ' CITY OF DENTON, TEXAS Year Ended September 30, 1972 _ Expenditures Expenditures and Encumbrances Appropriations and Encumbrances Prior Fiscal Year ' GENERAL GOVERNMENT Salaries and wages $ 78,978 $ 99,372 $ 1029155 Supplies 8,480 8,929 10,230 Maintenance 8,887 1,896 109585 ' Services 57,008 61,249 62,791 Sundry 10720 3,972 5,340 Capital outlay 800 1,680 1,777 ' Insurance 1,310 _ 52607 2,355 1579183 188,705 195,233 LEGAL DEPARTMENT ' Salaries and wages 77,014 68,438 72,730, Supplies 2,352 21685 3,416 Maintenance 1,204 1,682 1,073 Services 11,886 6,229 13,273 ' Sundry 10500 2,931 183 Capital outlay 31900 5,142 4,825 Insurance 368 _ 275 24 98,224 87,382 959524 COMMIUNITY DEVELOPMENT Salaries and wages 176,754 176,433 170,721 Supplies 8,230 8,530 9,609 ' Maintenance 5,009 4,398 41942 Services 14,844 14,712 150136 Sundry 250 11095 80 ' Capital outlay 1,480 1,716 7,958 Insurance 12254 11384 11076 207082'. 2080268 2099522 ' CIVIL DEFENSE Salaries and wages 17,660 179527 17,762 Supplies 19470 1,614 19001 Maintenance 19812 10474 29137 Services 10590 10662 1,522 Capital outlay 1,776 10466 11707 Insurance 321 _ 331 367 ' 24,649 24,074 24,496 FINANCE ADMINISTRATION Salaries and wages 249137 239494 28,681 ' Supplies 794 788 902 Maintenance 225 184 94 Services 1,145 1,146 909 Capital outlay 500 - 449 ' Insurance - - 6 260801 25,612 310041 O -13- GENERAL FWD EXHIBIT B-4 (Cont'd) APPROPRIATIONS AND EXPENDUTURES AND ENCUMBRANCES CITY OF DENTON, TEXAS ' Year Ended Septer.ber 30, 1972 Expenditures ' Fxpcnditures and Eric ur.~rances Appropriations and Encumbrances Prior Fiscal Yez Salaries and wages $ 42,911 $ 34,874 $ 340626 t Supplies 6,508 3,601 3,312 Maintenance 590 652 403 Services 8,756 9,386 1,633 ' Capi*_._il outlay 70 - 148 Insurance _ 50 - 50 58,685 48,513 40,172 ' DATA PRCKESSING Salaries and wages 43,912 44,259 43,i;45 Supplies 6,452 4,846 5,927 Maintenance 50 53 161 ' Services 41,055 39,602 35,3313 Capital outlay - _ 175 - 91,499 88,935 84,485 , SAN IT.4T IW-COLLECT ION Salaries and wages 258,591 261,099 236,649 S+Ipplir.s 20,984 20,007 '8,592 ' aaintenarxe 46,176 41,570 31,6 69 Services 33,110 37,254 34,279 Sundry 150 217 47 Capital outlay - - 63,117 ' 1-i~uracce 2,512 3 784 2 ih 3629183 363,931 ,ob,939 tiANIT;IIU:-DISPOSAL Salaries and wages 24,959 2;,356 23,831 Supptit's 1,650 1,619 1.L"A4 Maintorn:nce 5,200 6 ,056 17,755 lzccvices 13,850 13,756 100745 ' Capital outlay - - 1,523 Insurance _ 40 29 30 ,145,698 46,416, 55,169 t PuLICE Salaries and wages 538,385 531,958 526,058 Supplies 359450 31,207 33,779 ' ;iaintenance 29,700 29,860 339258 Services 43,010 44,762 42,941 Insurance 5,099 4,615 3,042 Sundry 850 2,612 473 , Capital outlay - plant and equipment 3,252 21726 12,599 Sundrv 1,000 405 - 656,746 648,145 652,150 1 EXHIBIT B-4 (Cont'd) GENERAL FUND APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES CITY OF DENTON, TEXAS Year Ended September 30, 1972 Expenditures 1 Expenditures and Encumbrances Appropriations and Encumbrances Prior Fiscal Year RIGHT-OF-WAY Salaries and wages $ 99321 $ 9;259 $ 9,239 Supplies 300 236 223 Maintenance 300 481 313 services 730 623 676 1 Insurance 184 167 122 10,835 10,766 10,573 PURCHASING 1 Salaries and wages 19,643 19,501 22,443 Supplies 21025 11599 2,319 Maintenance 250 185 171 Services 1=575 1,717 1,721 Capital outlay 327 23,493 239002 26,981 BILLING AND COLLECTING 1 Salaries and wages 118,130 1142473 120,191 Supplies 18,219 17,751 13,873 Maintenance 2 720 3,285 2,578 1 Services 42689 41820 5,324 Sundry 200 349 103 Capital outlay 1,900 10698 259 Insurance 732 _ 708 _ 653 1469590 143,084 142,981 ACCOUNTING Salaries and wages 23,119 220248 18,674 1 Supplies 754 769 637 Maintenance 21925 2,793 196 Services 51548 5,537 176 ' Capital outlay - - 295 HICKORY CREEK PARK 32,346 31,341 19,978 1 Salaries and wages 5,977 5,598 51037 Supplies 660 275 455 Maintenance 450 18 474 Services 500 466 500 1 Capital outlay - - 65 70587 61357 69531 TRAFFIC CONTROL Salaries and wages 14,750 14,216 13,277 Supplies 10248 1,083 637 Maintenance 160523 16,113 13,484 Services 2,876 29692 3,011 1 Capital outlay 91023 7=960 29383 Insurance 370 - 44,790 42,064 32,792 -15- EXHIBIT B-4 (Cont'd) GENERAL FUND APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES '.TY OF DENT ON, TEXAS Tcar 1:udcd_Fe~temler 30, 1972 Expen d1t,, ucs F,xpendituies and Encunbrancts Apprupriaiions aii.d F,nci rbrances Prior Fiscal Year ti, l ~zlarics and wages $ 409,680 $ 402,197 S 405,628 supplic: 10,135 9,163 9,730 ' I..,.intenance 9,420 5,354 10,009 Ser~,ices 17,933 18,015 20,759 apital outlay 6,350 6,33'3 ',;0963 ' mil Vane e 1,401 2,3f,5 2,091 ndry 39 _ 53 _ - _ 454,9634.3,`,50 458,180 ' RI:F.T AND 5RiDGE 1:3iaries and wages 197,998 169,597 171,255 ,~upplivs 120171 11,093 8,971 '-4iintenance 123,480 1'.2,074 1011,118 services 94,380 39,340 95,78; .sundry 400 104 1,366 insurance 4,497 4,147 2,61,1 ' _apital outlay - plant and equipment 35,276 53,211 13,651 capital outlay - land 4,387 231,543 ' 472,589 ~672,104 309,790 ;,KS - MMINISTRATICN AND PARVS ' salaries and wages 105,875 100,961 971`476 Supplies 13,850 1'',817 14,713 :,3intenance 11,300 161451 13,618 , tiervices 28,515 30,404 2 ,8?: Capital outlay - land 4,010 387 1,705 ~'aoital outlay - plant and equipment 3,100 1,001 4062° ' insurance 120 3,170 2,0K 5undrv 270 337 100 171,040 165,528 158,927 ,AKKS - SWI?QMING alaries and wages 15,571 12,427 11,07, supplies 1,9')5 11737 1,533 Maintenance 2,800 1,150 1,012 ' Services 2,300 1,978 1,880 Capital outlay 50 - 993 Insurance 115 100 167 ' 22,831 170392 ~ 119222 PARKS - RECREATION Salaries and wages 42,226 44,042 489071 Supplies 49500 3,804 2,605 ' Maintenance 21075 1,368 11562 Sorvices 26,160 25,024 23,308 Capital outlay - land 3,005 58 3,470 ' '.3pital outlay - plant and equipment 31400 5,295 1,700 Insurance 380 251 196 Sundry 100 100 - 81,846 79,942 80,912 -16- EXHIBIT B-4 (Cont'd) ' GLVERAL FUND APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES CITY OF DENTON, TEXAS Year Ended September 30, 1972 Expenditures Expenditures and Encumbrances Appropriations and Encumbrances Prior Fiscal Year CEMETERY ' Salaries and wages $ 20,824 $ 209818 S 21,758 Maintenance 750 522 423 Service; 500 353 407 ' Capital outlay - - 686 Insurance 850 209, 820 22,924 21,902 24,094 LIBRARY ' Salaries and wages 49,046 48,082 399173 Supplies 59840 60081 4,812 Maintenance 19100 1,127 1,011 t Services 13,400 12,061 13,258 Insurance 168 168 355 Capital outlay - plant and equipment 13,316 159440 9,782 ' 82,870 82,959 68,391 AIRPORT Supplies 48 4 65 Maintenance 41025 2,198 79351 ' Services 2,230 2,016 2,263 Sundry 50 71 61 Insurance 160 324 389 ' Capital outiay - plant and equipment _ 5,715 1,983 4,455 129228 61656 149584 CITY-COUNTY HEALTH UNIT Supplies - - 82 Services 25,500 22,543 _ 26,369 25,500 22,543 26,451 NONDEPARTMENTAL EXPENDITURES ' Flow Memorial Hospital 112=700 112=700 - 25,000 Insurance 12779 1129700 112,700 26,779 TRANSFER TO OTHER FUND - - FOR SPECIAL PROJECT Fire Station Capital Project Fund 93,731 Street Improvement Capital 1 Project Fund 19,528 - 19,528 92,731 TOTALS GENERAL FUND $3,454,821 $3,631,410 $3,383,032 See notes to financial statements - EXHIBIT K. ' -17- EXHIBIT C ' SPECIAL REVENUE, MUST AND AGENCY FUNDS BALANCE: SHEET ' CITY OF DENTON, TC!{AS Scpt, :giber 30, 1972 , Street ' Total Assessments Miscellaneous ASSETS Cash ; 10.771 $ $ 10,771 ' Certificates and accrued interest 2,148 2,148 StCeCt assessments receivable less ' allowance for uncoilectibles of $100,000 - Note E 134,025 134,025 Duc from other funds 5 5 $1461949 $134,030 L12 I I 1LIABILITIES , Vouchers payable $ 9:0 S $ 950 Due to other funds 1409278 134,030 612-48 Escrow deposits 5,721 5,721 $146,949 $134,030 $ 12,919 ' To EXHIBIT A DETAIL OF ESCROW DEPOSITS ' McKenna Park $ 3,566 Emily Fowler Library Fund 2,224 Hickory Creek Park 665 Title I - Library Granc 734) $ 5,721 ' See notes to financial statements - Exhibit K. 1 18- ' EXHIBIT D ' CAPITAL PROJECTS BALANCE SHEET CITY OF DENTON, TEXAS September 30, 1972 t ' Street Improvement ASSETS Cash Due from other funds 135,030 ' $ 21~ LIABILITIES AND RESERVES Vouchers payable $ 4 ' Note payable to bank - Note E 94,925 Due to other funds 44,389 TOTAL LIABILITIES 139,218 Reserve for authorized expenditures - EXHIBIT D-1 To EXHIBIT A See notes to financial statements - EXHIBIT K. r -19- CAPITAL PROJECTS EXHIBIT D-1 1 STATEMENT OF CHANGES IN RESERVES FOR AUTHORIZED EXPENDITURES CITY OF DENTON, TEXAS i Year ended September 30, 1972 ' Street Improvement , `)ALANCE (DEFICIT) October 1, 1971 $ (19,347) Additions: ' Transfer from General Fund 195_2288 a Dedu:tion for assessment adjustments 181 ';ALANCE September 30, 1972 L _ To EXHIBIT D ' S e notes to financial statements - EXHIBIT M. -20- STATEMENT OF GENERAL DEBT EXHIBIT E CITY OF DENTON, TEXAS S Septt-mlior 30 September 30 Amounts required for retirement of 1972 1971 general obligation bonds: Available in Conoral Debt Service fund -EXHIBIT F-1 $ 41,425 $ 34399 Future requirements , 6,L271 575 6,706,601 L?.90 Commitment tc issue General Obligation Warrants General Obligation Warrants payable $ $ 1.55,000 General oblication bonds payable 158,000 - ' G,158,000 6,5.86,000 i 31,94Q .7_42.000 To EXHIBIT A The factors contributing to the decrease 1 during, the year ended September 30, 1972, in the amount of additional iuture requirements are summarized below: Balance October 1., 1971 $6 1 ,706,601 Increase in amount available in General Debt Service Fund - EXHIBIT P-1 $ 70026 Bonds retired during the year _ 428,000 435026 BALANCE SEPTEMBER 30, 1972 ' See notes to financial statements EXHIBIT K. e -21- EXHIBIT F ' GENERAL DTI RT S4,IMCP FUND BALANCE SHEET CTZY OF DENTON, 'TEXAS September 30 September 30 ' 1972 1971 ASSETS f rttih $ 80,175 $ 33,883 ' [hie from Other funds _ 11,820 ' $ 80,175 $ 45,703 LIABILITIES AND FUND BALANCE ' Due to oth.r funds $ 38,756 $ 11,304 ' Fund balance. - EXHIBIT F-1 `41;415 34;399 ' $ 80,175 $.45,703 To EXHIBIT A 1 ' :;rc notes to financial statements - EXHIBIT K. .22- ' ' CENF.RAI, DEBT SERVICE FUND EXHIBIT F-1 STATEKENT OF REVENUE, EXPENDITURES AND FUND BALANCE CITY OF DEN'rON, TEXAS Year Lnde(L.9 opt ember 30 fifiVENUE 1972 1971 ' Budgeted portion of taxes collected $701,408 $644,140 Intrrc,St enrtied on investments 7A529 __5 598 708,937 649,738 TYKNDITURLS lh),ids retired 428;000 3510060 ' Interest 273'0432 2R9,685 Paying agent fees 479 40 701,911 b25 REVENUE OVER FXPENDITURES 7;026 Fund balnncc it beginritng of year 34,399' 1~S 86 FUND BALANCE AT END OF YEAR •4,,4~ s g :V#, 399 To MkBIT F 1 I ' Sep notes to financial-statements - EXHIBIT K, -i3- ELECTRIC SYSTEM FUND BALANCE SHFET ' CITY OF DENTON, TEXAS Septemher 30 September 30 1 ASSETS 1972 1971 CURRENT ASSETS Unrestricted (Operating Fund): Cash Time certificates of deposit S ' AcooOnts receivable (less allowance of 20,000 S 2230940 $?~~,859-1972; $33)786-1971) - Note B 209000 Interest receivable on invoatment 1,3173097 ' Prepaid insurance a $986 Due from restricted and other funds 2,458 1 1 056,748 18,826 350383 Restricted: 183 445 19 259 54 26 1,9 6 16 Reycnue bond 10 Cath debtservicet ,,Certificates find time deposits 1,082,336 ' MisceltaneouA'rdg6ivable '2b,t?00' 941042 Dpe,from Elh:ciri6 System Fund 1,000 201000 Due From Revenue Bond Construction fund - 1,000 ~17LpIU 130352 ' OTHER ASSETS TOTAL CURRENT ASSETS 1.130 346 694 2,67272 2---- s Revenue bond reserve fund: ,443,010 Cash Certificates and tune deposits 1,238073 t,093,1i7b Investments in U.S. Government obligations 200000 ' (quoted market, $44,505) 20,000 Revenue bond construction (cash) 2,40644,894 System extension and improvement 44,894 Due (to) from Electric S stem Fund {cash} ,208 2,835,399 restricted asset accounts and other 126,125 UTILITY PLANT (_----54,1513} 13,134 - Notes A, C and F 3,781,677 4,007 Land and land rights ,103 Electric plant production and distribution 247,653 24 facilities (leas accumulated depreciation of 7,653 ' $11,351,717-1972; $10,258,688-1971) Construction in process 190460,590 19,994,209 INVESTMENT IN INTRAGOVERNMENTAL SERVICE FUND'- ' 97 -4 8 4 946 o64" ' EXHIBIT I 27r905,427 21,18 296-:596 __2 7 6-.L9 314 $34,_655,872 $27,913 6 To EXHIBIT A -24- ` ' EXHIBIT G ' September 30 September 30 1972 1971 LIAIQLITIES, RESERVES, CONTRIBUTIONS AND RETAINED EARNINGS C.URRL.NT IJAIIIL1THS ' Payable from current assets: $ 4,634 Cash deficit 254,624 217,742 Vouchers payable 44,430 Accriod payroll and payroll tares 25,951 60,380 Due to restricted and other funds 110,127 117,348 Customers' deposits 25,503 Revenue bonds payable within one year 400,341 4650703 Payable from restricted assets: Revenue bonds payable within one year b97384,,p0p 128 709 709,,447 497 Interest 1~67U ' Due to other funds 0881,128 975.694 TOTAL CURRENT LIABILITIES 19481,469 124411397 OTHER LIABILITIES Revertue_bonds payable:- e;cclusive of 20,353,000 15,050,000 maturities due within one year ' Payable from restricted assets: 5749020 669538 Contracts ~ - Due to operating fund and other 35,621 15,95B restricted asset accn•,nts 20,86 ,641 15432L496 RESFRVES - EXHIBIT G-1 4 Reserve for revenue bond contingency 1,2492b,34k 6 1i171i7700 Reserve for system extension and improvement 10375,470 lj17Ij704 UNREALIZED INCREMENT IN VALUATION OF 3,435,04 3,718,863 ' UTILITY PLANT IN SERVICE: - EXHIBIT G-l CONTRIBUTION$ AND RETAINED EARNINGS -,EX1l $I1' G-1 48,923 12,988 Conltlbutionin aid'of construction 7,35,926 6,456,240 1 662 Retained earnings 70400,588 60449,228 COMMITMENTS AND CONTINGENCIES - Note F ' $34,655,872 $27j9131688 To £X1ilBIT A ' See notes to financial statements - EXHIBIT K, ' -25- 1 1;LECTRIC SYSTEM FUND STATF;WNT OF CHANCES IN RESERVES, UNREALIZED INCREMENT, ' CONTRIBUTIONS AND RETAINED EARNINCS CITY OF DF.NTON, TEXAS t Year ended September 30, 1972 Reserves Revenue Extension tond and ' Contingency Improvement Balanc0 at beginning of year Add: $I,I71,704 g ' Transfer from operating fund required by board ordinance Contribution by developers 77,640, 701,658 ' Net Income - LXHiBIT. G-2 Transfer frowreserb© for extension' " and improvement 7P 2 0658 Deduc,tt? Reduction equal to extensions and improvements 1 made during tht;,yeor,from current revenues (traliafpr to' r0faitned earnings) ' Amortization of unrealized increment 581,533 Transfer'? to geh4al 'fuhd Transfer to reaekyj for extension and improvement I% ' Transfer to revenue bond retirement BALANCE 'AT ' END OF YEAR' $10249'i44 49'i44 $ 'lam Z r'o 1 1 •26- ' EXHIBIT C-1 1 ' Unrealized Contribution t Increment in in Aid of Retained Valuation Construction Earnings $3,718,863 $ 122988 $6,436,240 ' 35,938 1,799,575 t 3,718,863 581,533 48,926 8,817,348 , t . ' 28],159 680,388 707,658 77,640 1 _ 283.159 1,465,686 $39435,704 $ 48,926 $7,35 1,662 ' E X 11 I B I T G ' See notes to financial statements - EXHIBIT K, ' -27- 1 ELECTRIC SYSTal FUND EXhIBIT C-2 S1'ATFa1FN'f OF OPERATIONS CITY OF DENTON, TEXAS ' 1 INCU?I1. -Ended SUtamber 30 Electricity sales: 1972 1971 Customers Intergovernmental $ 5,247,229 $ 4,552,384 Other 195,536 21 3,729 _ 22 184 X17 ' EM NSES 50464,949 4,793,830 Salaries and wages Fuel 688,705 675,616 Supplies 1,155,683 950,793 Maintenance 59,842 46,775 Insurance 93,962 121,686 Administrative services 52 430 Services 272,882 49,825 268,869 Bond issuance expe-ase 109,696 101,735 Sundry - 19 _ 61.911 ,226 17.938 _2,495,111 ~2__2.j 3 OPr'RATiNG INCOME ' Provision for depreciation (straight line)BE,URE DEPRECIATION 21969,839 f 51 FI,347 809,871 7 7 128 Other income - interest OPERATING INCOME, 20159,967 1,76492t9 ~ 196,317 241 130 ' Bond interest and fees - Note A 2,3560284 2,0050349 556,709 623 338 . NET 1NCOrsF; To 'XIII811, G- I See notes to financial statements - EXHIBIT K, ' .28- i ' EXHIBIT C-3 ELECTRIC SYSTEM FUND STI.r1':MEN1 OF CHANGES IN FINANCIAL POSITION ' CITY OF DEN'CON, TEXAS r Year Ended September _30 1972 1971 SOURCE. OF WORKING CAPITAL From operations: ' Net income - EXHIBIT 0-2 $1,799,575 $11382,011 Depreciation expense not requiring working capital 809,871 777.128 ' TOTAL PROVIDED FROM OPERAT70NS 2,609,446 2,159,139 Amortization of unrealized increment in valuation of utility plant in service. 283,159 283,I59 ' Contributions from customers and developers 35)938 89607 Proceeds.froln sale of bonds 6,0000000 - ' Decrease in'net assets of bond construction fund 956°33) 1,066,460 9,8841880 39517,365 ' APPLICATION Oj,Pb-AKING CAPITAL Addition to plant 7011;815 108960459 Less: adoltion gut of reserve for ' extension and, improvement 581,532 738,878 NET ADDITIONS TO PLANT 71230,283 111579581 Paygient of long-term debt 6970000 735,000 Transfer to reserve for revenue bond contingency 775640 45,600 Transfer to general fund 680,388 653,128 ' Decrease in unrealized increment in - valuation of utility plant in service 2831159 ° 283,159 Investment in intragovernmental service fund 199662 Transfer to reserve for extension and ' improvement 707,658 595,961 9,695,790 3,470,429 ' INCREASE IN WORKING CAPITAL $ 189,090 469936 I1 1 1 -29- r ELECTRIC SYSTEM FIFND EXHIBIT C-3 (Cont'd) STAMiENT nF CHANCES IN FINANCIAL. POSITION CITY OF DENTON, TEXAS ' Year Ended September 30 "MANGLS IN COMPONIM S OF WORKING CAPITAL _ 1972 1971 increase (decrease) in working capital asscts: Unrestricted: Cash S (223,940) $ 202,323 Time certificates of depotit Accounts receivable 250 (2 84 0) Interest receivable on Investments ,1I1 (995 5,840) Prepaid insurance 710 10713 Due from restricted accounts and tither 'funds (169557) 7,010 64.186 51,820 ' Restricted: 74,510 (32,974) Cash , Due from Electric System Fund 14Q,994 215,489 ' (13,15')L 12,960 Due from )revenue Bond Construction Fund 27`010 154;b 2 228 449 Increpse (decease) in working capital liabiliti_s: 229,162' ~1 5'4j5 , isayeble >*zopi unx'stricted assets: Cash deficit 4,634 Vouchers payable 4'l'887 ' 43 1 1 b8 Accrue& payra~l and payroll taxes (44:43b) 1 f Due to restricted and other funds - y't147 Customers' deposits (34';49)24;441 ' Revenue,6pnds,payabId!W1 thin'onl,ybaE (7,521) 1110,003) (25,503 Revenue:bpnd,interest payable (25f580) 17628) Payable from restricted assets; (Z) ,909) evenue b9nds payable within one year (12,497) 1471580 R Intrest Due to.otber funds 1419,609 79;198 (1;670) ,I J670 105,434 ' 228448 11+0,072 ` t +539 INCR EASk IN WORKING CAPITAI, s 189,090 $ 1,60936 See notes to financial statements - EXHIBIT K. 30,. Y FLFCTVC SYSMI FUND EXHIBIT C-4 EST!MTE:D AND ACTUAL REVENUE 1 CITY OF DENTON, 'T'EXAS 1 Year Ended Se tember 30 1972 Actual Over Actual Estimated Actual (Under) Prior Fiscal Estimated Year Customer sales - residential $ 2,()98,000 $ 2 l71 828 Customer ;ales - commercial 2,9360000 20946423 ` 3'828 $ 1,855,339 Penalties 660000 68,931 •03423 2,596,494 Dusk-to-dawn rentat fees 2'931 59,658 Intra-governmental sales 190000 19,463 463 17,637 Collection on charged-off 197,000 195,536 (11464) 213,729 accounts 2,500 1 Reconnection fees '800 2,966 723 466 19580 Resale powor income (77) 766 Sate of scrap material 170000 39,861 22,861 21,486 Miscollanoous 60000 6,545 545 15,211 _ 12.000 12 673 673 10,928 interest 5,354,300 5,464,949 110 649 4,793,830 Contributions in aid of 50,000 104,942 543942 830910 ' construction 4 000 35.938 31 938 56 2 $ 1 8. ~ 601 t 4y1 See notes to financial statements - EXHIBIT K, 1 1 -31- F:LFM'IC SYSTEM FUND EXHIBIT G-5 ' APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES CITY OF DENTON, TEXAS Year Ended September 30 1972 Expenditures and Expenditures and Encumbrances F.LCCTRIC PRODUCTION Appropriations Encumbrances Prior Fiscal Year Salaries and wages $ 3700813 $ 355,395 Supplies 38,057 $ 357,047 Maintenance 48,764 29183 Fuel. 36,479 30,920 333478 Services 11123,086 1,156,112 950,755 Insurance 28,229 26,652 29,719 Sundry I'831 1,922 15,805 Capital outlay 99 132 74 9,057 18 140 55.947 ELECTRIC DISTRIBUTION AND MFTF.RING I,607,651 1,601,757 I94729664 Salaries and wages 382,980 388,967 Supplies 15,097 3922063 Maintenance 13,497 15,579 Services 79,666 77,087 82,128 ' Insurance 35,695 36,744 39,521 Sundry 31703 3,471„ 1,847 S CAp undai outlay 984 11147 319 571 8 _Y 44~,_¢¢~ 524 057 ' PRO RATA SHARE OF UTILITY 1,090,03 921 °600 1,0609514 ADMINISTRATfON-UPENSE SSalaruppliiees s and wages 93$09, ' 93,359 $9,45 Maintenance #'098 1 772 1,489 ?,,It20 . 3ervi6es 1,435 1,444 Sundry 582140 66,086 44,320 ' Insurance 120,743 60,6' J2 17,504 Insutal outlay 32,350 47,031 196 825 900 368 ' NONDEPARTMENTAL EXPENDITURES 3109237 271 9 4 1300207 Reserve fund requirement 65,760 77,640 Interest and redemption ' requirements 19286j304 Tranifee to General Fund - 1,465,254 1,'17,504 administrative services 277,639 Return on net investment 212'882 268,129 ' Insurance 680,388 6800388 ,6539128 2.31 1 49b.1W~ `6`i4 i 3.1 9 7-7 See notes to financial statements - EXHIBIT K. -32- WATER AND SEWER SYSTEM FL-ND ' MI ANC : SHEET CITY OF DEN'fON, TEXAS ASSETS"'h~cmhcr 30 September 30 1172 1971 CURP,t;tdT ASSt,TS Unrestricted (Operating Fund); Time certificates of deposit ]merest receivable on investments 5 70,400 $ 201000 Accounts receivable 1,767 Ikle from revenue bond reserve find 2,142 1,08 Oile fr•,'In other funds 13,455 111628 Prc•;+;,id expenses 657 ' 22,608 Restricted: 10,232 52201 1 Revlenue band debt service: 47,853 60 ' l:asl~ I7+1e from operating fund 103,243 , 9,7 ,1,912 37 ' OTHER ASSETS 'T'OTAL CURRENT ASSETS 1551,0 F0104963 5~8 749 I£evenue bond constructions Cash Cratit receivable from t' " ed7,`rel Govcrnmen bue"from other funds Due from operating fund - 40;700 Account receivable Proceeds due from bond sale (Sewer-$1001 6 6171 RO~eniie band reserve fusidh,~~4) . ~ 7,50 1,8 0,000 81 CerEfficates and time`006ilts 368)055 bue''ko current, operatifig Fu nd 20 34b+519 bue from other funds ,000 29+000 (13,055) ,r a 'OTIETTY` PLANT - Note3 A ahd C 16890,278 692o32 8 Land and land rights Water +:cility plant (leis accumulated de- 21$* 99,5 prccfation of $3,133,395-2972; 100,800 $2j931013-1971) Sewer utility plant pr (less accumulated de- 5x10`1,914 4,602+865 ~xefAtion of $2,714,248~1972; ' $2,537,402-1971) Water rights (less accumulated depreciatio 2,5'110'i69 $95,024-1912; $90,023-f071) ~f 4,31 7j 72 _ 155 040 1,1VESIMENT IN 7Ni'RACo1+ERNMEWAL SERVICE FUNDS - x8,455 6l3 160,041 EXHIBIT I 7,295,178 ' ?3D, ,505 229,765 $10,127,497 $8 376 527 e To EXHIBIT A -33 EXHIBIT H t ' September 30 September 30 I,IAIM.rrirs, RFsFRVE5, CONI'RIMFTIONS AND RLTAINED EARNING,;; 1972 1971 LURYEN1 LIABILITIES Pay:nble from current assets; Cash deficit $ 290 472 ' , $ 289,362 Volt(-hers payable 49139 7,918 Accrued payroll and payroll taxes - 209623 Due to other funds 1153743 106,419 Due to revenue bond construction fund 8,661 Revenue bonds payable within one year 127,775 130,725 Payable from restricted assets: 5460790 555,047 Revenue bonds payable within one year 67,225 64,275 Accrued interest 36,018 34,474 ' 103,243 989749 OT11ER LIABILITIES = less maturities TOTAL CURRENT LIABILITIES 650,033 6539796 due within one year ' Revenue bonds 'payable 501900000 338859000 Contract payable 309163 441696 Note payable from construction bond fund 91,750 - ' Due to operating fund - 22,608 503110923 30952,304 RESERVE FOR REVENUE BOND CONTINGENCY - EXHIBIT 11-1 375,000 3709586 CONTRIBUTIONS AND RETAINED EARNINGS - EXHIBIT H-1 Contributions from municipal or other 1 governmental units 2,4619922 2,4640212 Contributions in:''aid of construction 917,606 400,614 Retained earnings 611,013 535,015 39990,541 393990841 CONTINGENCIES - Nose F ' $10,327,497 $8p3761527 To EXHIBIT A ' See notes to financial statements - EXHIBIT K. -34- EXHIBIT H-1 ' WATER AND SEWER SYSTEM FUND ' STATEMENTS OF CR01GES IN RESERVE, CONTRIBUTIONS AND RETAINED EARNINGS BALANCES (JfY uP DENION, TEXAS _Y VTIded September 30 ' 19i2 1971 RESERVE FOR REVENUE BOND CONTINGENCY Balance at beginning of year $ 370,586 $ 370,586 Add nor:-budg(led transfer from Water and Sewer Operating m Fund 4_ 4y14 _ BALANCE AT END OF YEAR , Zj ,75 000 S , _ 37 6 ' CONTRIBUTIONS FROM MUNICIPAL. OR OTHER GOVERNMENTAL UNITS Balance at begiifsllitg of year $ 21464,212 $ 204641212 ' Less revision of estimated grant 2 290 BAIA14CE AT END OF YEAR CONTRIBUTIONS IN Alt) OF CONSTRUC11OW Balance at beginning'of year $ 400,614 $ 171858 ' Add: Contributions by,developers a.iu others for water ' and Sewer system improvements 369,150 3160$73. Contributions by custosers for water and sewer taps and extensions QS q :.842 6 883 BALANCE AT END OF YEAR ' RETAINED EARNINGS Balance at beginning of year $ 575,015 $ 614,536 Add net income for the year - Exhibit 11-2 306,638 _ 128,5IO 841,65 743.046 Deduct: Non-budgeted transfer to Water and Sewer Reserve Fund for revenue bond contingency 4,414 - Budgeted transfer to General Fund for return on investment 226,226 208,031 230,640 208,031 BALANCE AT FIND OF YEAR 611,013 535 015 To EXHIBIT It See notes to financial statements - Exhibit K•. ' -35- t 1 EXHIBIT H-2 ' WATdR AND SEWER SYSTEM FUND STATEMENT OF OPERATIONS CITY OF DEWON, TEXAS ' Year Ended September 30 1972 1971 1NCOMF. Hater sales: Customers $19095,525 $ 9503858 Intergovernmental 38,793 25,820 O Sewer service charges 407,174 328,642 Other 4,821 6,941 19546,313 1,3129261 ' EXPENSES Salaries and wages 3470027 329,025 ' Supplies 75,003 74',101 Maintenance 59,068 470676 Power 79;130 869527 Administrative services 90,961 89,623 ' 'Services 799694 870100 Insurance 7,633 5,814 Sundry 7,082 14477 7459598 728,343 OPERATING INCOME: BEFORE DEPRECIATION 800,715 583',918 ' Provision for depreciation (straight line) 364,229 315,966 OPERATING INCOME,' 436j486 261,952 ' Other income - interest 30,988 34,176 467,474 3029128 ' Bond interest and fees - Note A 160,836 173,618 NET INCOMF. $ 306,638 $ 128,510 ' To EXHIBIT H-1 1 See notes to financial statements - EXHIBIT K, t -36- r EXHIBIT H-3 I;AIER AND SEWER SYSTEM FUND ' `iATF24RNT OF CHANU S IN FINANCIAL POSITION CITY OF DENTON, 'IFXAS ' 0-ar F;nded September 30 r -1972 1971 OF WORF11(G CAPITAI, ' From operations: Not income i 306,638 $ 128,510 Depreciation expense not requiring ' working capital 164,229 315,966 IOTAI. PROVID3:D FX011 OPERA"FIONS 670,867 444,476 Contributions from customers and ' developers 516,992 182,756 Proceeds from sale of bonds 1,500,000 Proceeds from issuance of note by bond ' construction fund 91,760 I?Screase in r avenue bond construction bond assets. " S 267 2,7790619 842',499 APPLICATION Of ?1 RKING CAPITAL Additions toI lant 10124,668 643,116 ' Reduction of long-term debt 209,533 2090178 Investment in,intragovernmental service funds 750 81,897 Transfer to other funds 226,226 208,031 r Reduction in estimated contribution from Federal Gopgrnment 29290 Increase in net assets of revenue bond r constructiog fund 1;2160150 - Transfer to revenue bond reserve 4,414 222 _ 2 z7E4,~31 1,142,221 DECRFASE IN WORKING CAPITAL $ 4,412 $ 299,723 r 1 r r r il•I _ ,r ,kt , 1 -37- EXHIBIT H-3 (:ont'd) WATER AND SEWER SYSTEM FUND ' STATEMENT OF CHANGES IN FINANCIAL POSITION 8 CITY OF DED40N, TEXAS Year Ended September 3.0 1972 1971 r C1IANC17 , S IN COMPONENTS OF WORKING CAPITAL. Increase (decrease) in working capital assets: Unrestricted: $ 1,085 (9'682 11,028 r Interest receivable on investments 682 Accounts receivable (9o486 Due from revenue bond reserve fund (2139055 - 1,951) 22,608 Due from other funds 5,031 5,201. Prepaid insurance (120669) 400522 Restricted: CaEh 69231 449223 ) Certificate,of deposit: y (37,000) r Interest receivable on investment) 1;37 ' Due from otter fu,ids 4;494 8 837 (80175) 491359 Xnckease (decrease) 'in uorking,capital.liabilities: r Payable from unrestricted assets: 1,110 246f909 . "ash deficit j(3,779) (2,500) Voucher payable (200623) :20$61 ' Acc:ued psyvnll and payroll taxes 9,324 gg;147 Due to other funds 9o324 547) Due to revenue bond construction fund 90661 (4, (2,950) 40505) Revenue bonds payable within one year (89257) - 3329-88855 Payable from restricted assets: 2,950 18,025 Revenue bonds payable within one year 54 4 10,197 Accrued interest 1 1 544 ____-S3 L7b3) 3- 49-=082 $ DECREASE IN WORKING CAPITAL 40412 2990723 r r r See notes to financial statements - EXHIBIT K. e -38- r J WATER AND SEWER SYSTEM FUND EXHIBIT H•4 ESTIMATED AND ACTUAL REVENUE ' CITY OF DENTON, TEXAS ' 1 Year Ended Se tcmhr_r 3103 v Aetval Over Actual - ' or (Under) Prior Fiscal WATER Estfmated Actual Estimated Year Custuner sales - residential $ 633,000 $ 676,557 S 43,551 $ 5779553 customer sales commercial 385,000 396,356 11,356 3519233 Penalties 16,000 220612 69612 223072 Intra-governmental 36,500 38,793 22293 25,820 Tapping fees - water 50,000 481957 (19043),' -"'42,824 Sale of scrap material 5,000 2,113 .(2,887) 69941 Interest incom came ~ Miscellanepps ep 20,000 26,3Q8 6,358 :.,Z4 ' W~te extenaloQ 20,000 28,446 ,718 8,446 ls'165,500 1,242y893 (77;393 1,OSl;i 1 ' SEWER : l l Customer satQs,• residential 229 500 241 l42 11:642 1Y9,406 (IUstomer sales,- commercial 148,800 '1669032' 17j232 1290236 ' ,Tapping fees +,sewer 150000 152708 708 '141275 Sewer extensiot)s 56,000 54 731 48.731 8 785 399,30D, 47 7,61 78313 3511.702 ' $1,564,800 $11720i5O6 -$155;746 " $1,4020863 1 See notes to financial statements - EXHIBIT K; -39- ' 1 EXHIBIT H-5 ' WATER AND SEWER SYSTEM FUND APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES CITY OF DENTON, TEXAS ' Year Ended September 30, 1972 Expenditures and Expenditures and Encumbrances- Appropriations Fncumbrances Prior Fiscal Year ' WA'II.R PRODUCTION Salaries and wages $ 89,142 $ 85,216 $ 81,002 Supplies 600359 54,653 54,839 Maintenance 79579 70110 13,384 Production power 529000 579383 559872 Services 43,697 42,991 369907 Capital outlay 95 95 2,194 Insurance 680 21777 1,881 253,552 250,225 246,079 ' WATER DISTRIBUTION AND METERING Salaries and wages 131,478 120,906 114,264 Supplies 79263 69806 x',6216: ' Maintenance 240184 29,411; 1900.46 Services 18,437 17,503 :186257; Sundry 789 1085512,216 ' Capital outlay 193,710 1789374 1216061 insurance 2,440 1.771 245 378,301 3560626 2813295 ' SEWAGE TREATMENT AND DISPUSAL Salaries and wages 809859 766242 740747 Supplies 13,181 11,293 70569 Maintenance 70815 11,775 5,252 Production power 299220 21,746 24,654 Services 29930 29967 3,205 ' Capital outlay 403055 243 2,850. Insurance 185 1,146 839, 174,245 125,412 119,116 ' SEWAGE COLIBCTION Salaries and wages 1230026 121,502 112,893 Supplies 70474 6,160 7,490 ' Maintenance 21,765 22,844 18,912 Services 24,796 240749 23,513 Sundry 49000 3,909 30025 Capital outlay 76,634 74,022 85,559 Insurance 2,440 12855 245 2602135 2553041 2510637 I ' -40- WATER AND SEWER SYSTEM I"IND EXHIBIT 1I-5 (Cont'd) APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES CITY OF DENTON, TEXAS Year Ended September ant 1972 _ ,?xpcnditures and ' Expenditures and Encumbrances- Appropriations Fncumbrancc+i Prior Fiscal Year ' VK0 RA'T'A SHARP OF UTILITY ADNIVISTRATION EXPENDITURE Salaries and wages S 36,035 $ 3+;,n51 S 29,978 Supplies 1,032 830 1,210 e rlaintrnance 590 478 906 Servicks 91380 7,658 24,160 Sundry 247 _ 285 8,685 470284 45,302 64,939 NONDEPARTMENTAL EXPENDITURES Transfer to General Fund - Administration §2,546 909961 89;6L3 Int.erEst - 1`412' Ret'beh' on net investment -226,226 2269226 20T3;09t` InsurAhce _ '2 Int'er'est and redemption - `regniYements 160,475 358,412 367'`6!0' ' 679,247 675,599 6 9 $1,792,764 $1,708,205 $1,632,509 1 1 ' r See notes to financial statements - EXHIBIT K. 1 -41- 1 IN UCOVERNMENTAL SERVICE FUNDS EXHIBIT I BALANCE SHEET CITY OF DENTON, TEXAS September 30, 1972 Working Motor ' ASSETS Total Capital Pool Cash Investments - at cost $ 604,701 $ 58,365 $ 5462330 Interest receivable 209000 20,000 InWatories - at cost 1'767 - 1,767 Other assets 311,129 311,129 Due from other funds 904 454 - 450 Equipment - at cost 9,-153 31855 5,998 Less accumulated depreciation 19454,244 100231 11444,013 2,160 i 788.351 790,511 - es ment in Moto ' or Pool Fend - at cost 663,733 8,011 6551062 ~ -12.. LIABILITIIS, RESERVE ANll - 1:12a T 0 INVESTED CAPITAT, Vouthers payable Du'e~'to other funds a 25`,73625,7J6 $ TOTAL LIABILITIES - " 470 4 879 3.845 Reserye for maintenance of service center 34,470 30,61 7---r-3, ' I~iv~sted capital: 7,080 r1;~80 _ Investment by General Fund Tnvestment by Electric System Fund 193,395 1 ,Investment by Water and Sewer System Fund 290,5 `168A12 108 884 Invcstment by Working Capital Fund 230,505 118,649 111,855 Contributed assets 10120 - I,'i20 Retained earnings 221910 221;9,10 ' 571 131 1,157' "626,974 -1,5---71~ 345,299 2261358 To EXHIBIT A e t See notes to financial statements - EXHIBIT K. ' -42- INTRAGOVFRNMENTAL SERVICE FUNDS ' EXHIBIT I-1 STATEMENT OF CHANCES IN INVESTED CAPITAL f CITY OF DENTON, TEXAS Year ended September 30, 1972 ' investment h Total 4/~rkf.ng MoLor ' Y General Fund at CnPital P00I Sc+Ptember 30, 1471 and 1972 193,395 S 17081 Investment by Electric System 1 6,014 ' Fund; ]Balance - September 30, 1971 Additional investment 276,934 188,112 Balance - September 30, 1972 - 19.662 88,822 - _ 14;662 ' 296,546 8 112 , Investment by Nater and Sewer System Fund; - ` - SeF teiab6r 3Q _ i 108 484 B ianc 19j1 229 755 41, ittoc nal itivest~pnt 118,6,49 111,106 Balance - September 30, 1972 750 r ..2 230,505 118,6 118 6, nibstmcnt b 11 wb k u r,. 1 SbP. ~ tember 30 Capiaf, Fund at , and 1972, CPOtributed assets at , t and 1972Shp gmber 30, ~2I,410 ~71,910 Retained earnings- - Balance - September 30, 1471 , Not," ncome (loss) 5880019 8;093 57+9,926 Balarjca - September 30, lgy2 40.112 _ C6 p~Gf 47 048 INVESTED CAPITAL - SEPTEMBER 30,1972 6281131 157 626,974 _ L-Id L34i 99 S1. SSA (To EXHIBIT I) 1 Sec' notes to financial statemerts - EXHIBIT K. -43- r INTRAGOVERNMENTAL, SERVICE FUNDS EXHIBIT 1-2 STATi':WWr OF OPERATIONS CITY OF DENTON, TEXAS Year ended September 30, 1972 1 Working DIotor Total Capital Pool Charl;cs to otEtcr funds ~ $ Less cast of materials; 983,0'47 $ 765,046 $ 2180001 . K191nning Inventory - Purchases 356,077 356,077 _597,865 ___5971865 Less ending inventory 923,94`2 953,942 ' ---.31._1.1'!9 __311,129 _ 642,813 642,813 Operating expenses; 340234 ` 12- 2, 33 218,001 ' Salaries and wages i4pP.ligs 112,009 ` U 2 009 _ Maintenance 23036 r 2;036 - Equipment rental 39255 3,255 btiscel`lancous 1,876 ~rs876 beprociation (straight-line) 9,064 9,064 r 193 929 192,42$ - 321 129,169 192.428 OPERATING INCOME 18,637 (63936) 25s573 Other income; Cain on sale or trade of equipment ' Interest - 15,023 _ 152023 6,452 , 2175 6 452 21,475 NET INCOME (LOSS) S art j U S„ (y 47,048 To EXHIBIT I-1 1 1 See notes to financial statements - EXHIBIT 1t -44- STATEMENT OF GENERAL FIXED ASSETS EXHIBIT J CITY OF DENTON, TEXAS ' GENERAL FIXED ASSETS Oct,l, 1971 Additions Rutlrcments Sept,30, 1972 ' Land $ 745,641 $ 2331393 S - $ 9790034 Bii11dingA 1,778,278 - - 1,778,278 Streets 8,072,845 549,125 _ t 8,62),970 Equipment and other improvements - 127,916 72,413 329 ~~y= 1 800 1NVE£TTwtENT IN GENERA). FIXED ASSETS t From proceeds..of general ' obligation bonds $ 9,4862605 $ 4;486,605 From r,urrent rRvenues 975,938 326,190 _ 1,302,128 From contributions 862.137 528.74)' _ 611,324.b80 85r++931 - 1',39U,1#y8 ' - x,179,61), To EXHIBIT A 1 See notes to financial statements - 2XHIBIT K. ' NOTE: Investment in vehicles is recorded in the Motor Pool Intragovernmcntal Service Fund. .45. 1 NOTES TO FINANCIAL STATEMENTS EXHIBIT K CITY OF DENTON, TEXAS ' September 30, 1972 Note A - 1,1iange of Accounting Princil-le ' Included in costs of fixed asset additions of the electric System Fund and the Water and Sewer System Fund is $208,294 and $6,624, respectively of interest cost incurred during the construction period. Interest expense incurred during construction in prior years has been charged to expense. Note B - Receivables, Ele•_tric System Fund included in trade accounts receivable in the Electric System Fund are amounts due for water and sewer services provided by the Water and Sewer Fund and garbage services provided by the Ceneral Fund. Utility receivables are ' carried by the Electric System Fund to facilitate accounting and collection procedures. Each fund records its own portion of the revenues and losses from these accounts. t Note C - Utility Plints and Other Fixed Assets ' Utility plants and other fixed assets are recorded at cost or market value at date of contribution except as follows. 1 The net carrying value of the Electric System utility plant in ser- vice was increased by $4,851,498 co the appraised replacement value less depreciation as determined by ind•ipendent consulting engineers ' at September 30, 1967. The increase in carrying value is being amortized directly to Unrealized Increment in Valuation: of Utility Plant in Service. Such amortization during the current year was $283,159 and the remaining excess of recorded appraised value over acquisition cost at September 30, 1971, was $3,435,704. The recording of appraised values in excess of cost is not in con- formity with generally accepted accounting principles. Prior to October 1, 1970, contributions of water and sewer systems ' by developers had not been recorded as assets by the City. The amount of these assets and their effect on the balance sheet and net income (depreciation) of the Water and Sewer System Fund is not known, Assets contributed subsequent to September 30, 1970, have ' been recorded and are being depreciated. t -46- i EXHIBIT K (Cont'd) 1 ;TOTES TO FINANCIAL STATEMENTS CITY OF DENTON, TEXAS September 300 1972 1 Note D - Transfer to Excess Revenues fran the Utility System Funds to the General Fund 1 The City Charter allows a transfer of "excess revenues" (as defined in the City Charter) of the utility systems to the General Fund in an amount not to exceed six percent of the "not investment" in the utility systems. The City Charter specifies 1 that the "net investment" be taken from the "independent audit of the utility systems for the last fiscal year." In the opinion of the City attorney, the "net investment" may legally include the appraisal increment of $3,435,704 at"Septem 1 ber 30, 1972, 1 Note E - Notes Payable The note, of the Street Improvement Capital Project Fund is payable to'tho7Pt 'sit State Sank of, Denton,, Texas, and is due June 27,+'1973. Street assessinanti~,6f d 1 like amount ($94,325).have been pledgeO as collateral for this note. The note of the Water and Sewer Fund is for purchase of additional land and is due ' in installments ending January 2, 1976. The land carried at $118,195 is pledged as collateral on this note. Note F - Commitments and Contingencies Obli ations on Contracts for construction of additions to the utility systems totaled 1 $1,118,000 for Electric,$nd $1,1621000 for Water and Sewer and will be paid primarily from proceeds of revenue bonds sales. 1 Several suits and other 'claims are pending against 'he City. In the opinion of the City attorney, settlements, if any, would be immaterial in relation to the City's financial resources. 1 i i 1 ' -47- i i • mss. BONDS PAYABLE - ALI, FUNDS CITY OF DF.NTON, TEXAS ' Year ended September 30, 1972 OrIginal Date Amount ' of Date of of Interest Issue Maturity 1.yuq . Rate GENERAL OBLIGATION FONDS AND WARRANTS ' 1960 Street Improvement 7.15-50 7.15.85 $ 600,0003.50 to 3.85 1962 Street Improyenent 3-15.62 3;15.87 500,000 2,75 to 3,20 1063 Permanent Improvement Warrants 4-15-63 4-15.76 305,000 2.80 to 2.85 1963 Cener.zt Obligation - 3-15.63 3-15-88 5000000 2,50 to 3.25 1964 General Obligation 7-15-64 7.15.82 800',000' 3.00 to 3,20 1964 Park Improver, A 7-15-64 7-15-82 200,000 3,00 to 3.20 1966 Airport Iriprovement Warrants 12- 1-66 1.2- 1-81 11305.)0 4,50 1966 Ger.~ral Obligation 1-15-66 1-15-86 10000,000 3.30 to 5.00 1967 General O;r:gation 11-15-67 5-15-89 600ib60 4;25 1968 General obligation 2- 1-68 2- 1-88 1,000,000 4,00 to 5.00 ' 1969 General,,Q~ligatiop 4.15e69 :!14=15;'89' 1'i 285~000.r 4'60`f(y+6;50' 1970 General ipbligatlop 19;15-70-!. -3-1501 1;000,000,'';5.00 t6`7,00 1971 Tax Warrants 10-i 1-72 10i77; 155,1700',, 500'' ' ELECTRIC SYSTEM REVENUE BONDS 1, J_ 1954 11- 1-54 11- 1-84 40287,000 2,75 to 2.90 1955 5- 1-55 11- 1-b:) 1,350,000 2.75 to 2.90 , 1955-B 11- 1-55 11-~1-85 1,37;000 3.'00 1961 1- 1-61 11- 1-90 5,200,000 3.75 to 5.50 1965 '1j-'1-65 tl-'1184' 4;006;006 :b5,to 50' 1968 2- i~68 11 `1461 ,000666 4 A to 5.00 ' 1970 9- 1-70 11. 11953,500;000 430 't6 6;50 1972 5- 1-72 11- 1-97 61000,000 4,00 to 6.00 WATER AND SEWER SYSTEM REVENUE BONDS ' 1960 7-15-60 7-15.90 1,700,000 4.00 to 4,25 1962 1-15-62 7-15-90 10000,000 3.00 to 3.45 1964 7-15-64 7-15-84 250,000 3.00 to 3,40 1966 1-15-66 7-15-86 1,000,000 3,30 to 4,50 ' 1969 4-15.69 7.15.89 1,0600000 4.00 to 6.50 1972 9-15-72 7-15.93 115000000 4.00 to 6.00 1 .48. ' EXHIBIT L i i Payable in Year Ending Changes - Year Ended September 30, 1972 Se tember 30,''_1973 Sept. 30, 1911 Issued Retired Sept, 30, 1972 Principal Interest ' $ 350,000 $ $ 25,000 $ 325,000 $ 25,000 $ 12,363 3200000 209000 3009000 20,000, 0,910 ' 185,000 30,000 155,000 359000 4,417 1400000 209000 320,000 200000 9,640 680,000 65,000 615,000 659000 19,038 130,000 10,000 120,000 102000 3,735 1010000 80000 93,000 8,000 4,005 9000000 60,000 840,000 60,000 27,480 540,000 309000 510,000 309006 91,675 ' 875,000 500000 8250000 501000 34,062 iII0,000 60,000 10105,000 60,000 551405 10000,000 '50,000 9509000 502000 531800 ..155,000 155,000 31,000 76750 >6'586 5',155,000 $28,000 $69313,000 $ 464,000 $ 262,280 i $2150,000 $ $ .145,000 $2,360,000 $ 150,000 $ 63,700 8009000 459000 755,000 46,000, 21,228 ' 840,000 45,000 7950000 460000 23,160 4,740,000 851000 4,655,000 900000 1800832 215000000 225,000 2,275,000 175,000 61,863 9009000 50,000. 8500000 50,000 35,800 ' 30500,000 140,000 31360,000 140,000 202,720 6,0001000 6,000,000 318,960 ' $15,785,000 $61,0009000 $ .735,000 $219050,000 $ 6979000 $908,263 $1,405,000 $ $ 50,000 $1,355,000 $ 50,000 $ 54,200 785,000 30,000 7559000 300000 250190 145,000 15,000 130,000 15,000 40210 750,f.00 50,000 700,000 50,000 23,900 995,000 509000 945,000 50,000 49,725 1,500,000 !,500,000 65,250 ' $49080,000 $105000000 $ 1951000 $5,3~ 85~ oOOO $ 1 $ 222,475 -49- FUTURE DEAT REQUIREMENTS - ALL FUNDS CITY OF DFNTON, TEXAS Based on bonds and warrants payable as of September 30, 1972 i Year Ending Gelctal Obligation i September 30 Principal Interest Total 1973 $ 464,000 S 262,280 $ 7269280 i 1074 1,69,000 241,880 `710,880 1975 4701000 222,649 692,649 i 1976 470,000 203,870 673,870 1977 431,000 185,380 6169380 1978 400,000 168,173 56139173 1979 4000000 152,448 5521448 i 1980 396,000 1360570 532,570 1981 4022000 120,7(+0 522,700 19821 4010000 1040555 505,555 i 198 325$000 88,252 4131252 1984!:. X325,000 74,217 '399,?J7 1985. 325,000 60,087 " 385,067 198¢., ~ 300,000 '45,825 345,825 i 1981 240,000 33,520 2739520 1988; s245,000 '11: 992 ~6'C'902 1989 1500-000 12,065 1620065 1990 50200? 4,050 54,050 1991,,: 50,000 11250 -51;250 1992 1993. 1994 1995 1996 i 1997, 1998 46,313,000 $21139,763 $814520769' i i 1 it .50- 1 EXHIBIT H 1 Electric System Revenue Water and Sewer System Revenue Principal Interest Total Principal Interest Total 1 $ 928,000 $ 8960893 $19824,893 $ 196,250 $ 239,988 $ 436,238 9550417 856,258 1,811,675 246,256 224,638 470,888 968,833 8140230 1,7839063 2479 SOO 214,035 461,535 981,000 772,237 11753,237 2589750 203,213 461,963 993,000 729,898 19722,898 2729500 191,98 464,1;68 11006,833 687,129 19693,962 282,500 179,586 462,386 1 19019,000 6439757 1,6622757 2939750 161,312 4619062 110329833 599,704 1,632,537 306,250 154,184 460,434 1,0450000 555,181 1,6000181 312,500 140,362 452,862 10058,833 510,083 1,568,916 390,0^ 1269184 4469184 1,072,833 4649637 11537,470 321,250 1121pil 433 26,1„ 1,091,417 418,972 1,510,389 323,750 98;603 412,353 9400833 380,234 1,3210067 3210250 84,990 406,240 9431500 3399522 1,2830022 315,000 710311 386,31`1 967,917 297,005 1,264,922 286,250 57,713 3 3 963 988,333 252,521 1,240t854 4911254 x'{'22 ' 9671083 207,073 1,1749156 2830750 32,102 355,852 1 9870917 1629369 101500286 210,000 200008 230,008 430,833 1160758 547,591 90,000 10,744 100,744 3800000 930251 473,251 90,000 6,300 96 300 380,000 719697 451,697 67,506 2,700 70,100" 380,000 52,575 432,575 360,000 36,425 416,425 1 251,667 200525 2720192 240,000 10,400 250,400 20,000 800 209800 $20,411,082 $9,990,134 $3004019216 $5,3369k.'.q $29383,230 $70719,480 1 1 1 1 . -51- . 1 { R6FNU1 110ND DEBT COVERAGL EXHIBIT N ' CITY OF DENTON, TEXAS September 30, 1972 ' Electric System Fund: 1 Gross revrnut' $ 51661,266 Maintenance and operating expenses (excluding interest and depreciation) 2,495,111 NET REVENUE Lly146:I55 Largest annual debt requiremeni (1973) LA4 ,893 Debt coveragr 1.73 Water and Sewet System FuIW: Cross revenuE $ 1,5771301,` ' Maintenance And operating expenses (excluding interest and depreciation) 745.59& NET REVENUF, Largest annual debt requirement (1974) $ ___47o.aae ' Debt coverage 1.76 1 1 I i -52_ INVESTMENT, ALL FUNDS ' EXHIBIT 0 CITY OF DENTON, TEXAS September 30, 1972 Interest Maturity ' Rate Date Amount GENERAL FUND ' Time certificates of deposit: Denton Federal Savings and Loan Association 67,, 13-1-74 North Texas Savings and Loan Association 6% $ 10,000 9-30-72 10.000 0,M ' ELECTRIC SYSTEM FUND Operating Fund: Time certificates of deposit: Denton Federal Savings and'Lolni Ass'obiation 6% 10-1-74 $ 10,000 North Texas Savings and Loan Association 6% 9-30-72 ' 10.000 n Revenue Bond Debt Service: Time certificates of deposit: Denton Federal Savings and Loan Association 6% 10-1-74 $ 10,000 North Texas Savings and Loan Association 6%, 10-1-72 10,000 Revenue Bond Reserve: Time certificates of deposit: Denton Federal Savings and Loan Association 6% 4-1-74 North Texas Savings and Loan Association 6% $ 10,000 ' 3.1-74 1Q.000 U.S. Government obligations - 200000 U.S. Treasury Notes (market value - $44,505) 4,125% 11-15-73 _ 44,894 L1 -53- EXHIBIT 0 (Cont"d) MESTMMS - ALL FUNDS CITY OF DENTON, TEXAS September 30, 1972 t Interest Maturity Rate Date Amount WATER AND SEWER SYSTEM FUND t Operating Fund: ' Time certificates of deposit: Denton Federal Savings and Loan Association 6% 10-1-74 $ 109000 North Texas Savings and Loan Association 6% 9-30-72 110000 Revenue Bond Reserve: Time certificates of deposit: ' Denton Federal Savings and Loan Association 6% 4-1-74 $ 100000 North Texas Savings and Loan Association 67. 3-1-74 10,000 24 _ INTRAGOVERMENTA1. SERVICE FUND . Time certificates of deposit: Denton Federal Savings and Loan Association 6% 4-1-74 North Texas Savings and Loan Association 6% 3.1-74 $'109000 10,000 SPECIAL REVENUE, TRUST,AND AGENCY FUNDS Time certificate of deposit - First State Banc of Denton 5% 10-22-72 1 i 1 1 r -54- ' I' I~ 1 i STATISTICAL TABLES 1 1 1 1 , ,i INSURANCE IN FORCE CITY OF DENTON, TEXAS E September 30, 1972 Insurance Company Policy Expiration Numbe: Date i it. Paul Fire & Marine In Company CR-8730 9-I8-73 The Nome Indemnity Company N-32-63-11 ]0-1-75 Gulf Insurance Company SCP 5292715 12-78.72 Fidelity & Casualty Company of N. Y. ItIUl-090291 4-20-73 The Fidelity & Casualty Company of N. Y. PC 5112133 7.-24-73 The Fidelity & Casualty Company of N. Y. IM11-103232 , 11-i-72 The Fidelity & Casualty Company of N. Y. F 7144516 10-1-73 Gulf insurance Company CA 5530441 ' 1-I-73 dartford (TWITI City) Fire Insurance Company 46 PSI; 005395 lU-1-74 ' Frnployers Casualty Company A-551513 1-t-73 Fidelity & Casualty Company of N. Y. PG 5112116 1-23-75 , Republic flational Life Insurance Co. GA 11512 April 1, yearly Premfumn monthly United States Fire Insurance Company SIIA 54335 1-t5-73 -SS- 'f ABLE F a Coverage Amount of Limit Faithful performance bond - Tax Assessor $ 1,000 Faithful performance bond - City Manager Director of Finance 72,500 Each employee 72,500 Assistant City Manager 2,500 72,500 ' Robbery outside premises Robbery inside premises 1,665 2,000 Sound equipment at Civic Center 10, 241 Comprehensive glass policy - City Hall Tgjl ,Loss Utility accounts receivable destrueii~d"of°i0c6t°d4 I a ; t r X60 OtSO Fire and extended coverage on utility systems, buildings and 17,39~,'000 . contents, and newly acquired buildings and their contents 90% Coinsurance Public liability: ;eneral: Bodily injury Property damage l00/3,0000DQ Automobile:, 50,000 t Bodily injury Property damage lOD/lOO,pOb 50;006 General boiler and machinery 5,0000000 Workmen's compensation Comprehensive glass policy - Library Total Loss Group accident, sickness and life coverage on all full-time employees Group accident, sickness and life coverage on police ' reeerve 1 ' -56- ASSESSED VALUATION AND TAR ASSESSED TABLE 11 ' CITY OF r)FNTON, TEXAS Year Ended Assessed Valuation September 30 Real Property Personal Property Total Tax Assessed :963 $329167,638 $ 707799232 $39,9469870 ' $ 599,203 1964 36,105,470 71230,770 43,336,240 650,044 ' 1965 39,713,490 81836,110 48,5490600 728,244 1966 4219789610 99494,495 522 473,105 787,O96 1967 47,403,190 11,255 685 58,658,875 879,883 1968 49931 12,222,198 610589,918 923,849 ' 1969 529065,360 1409349911 67,000,291 I,O05,004 1970 55,417,090 15,6589946 71,076,036 1,066,141 1971 60,539,722 1634060918 760946,640 1,i54j199 1972 66,2309863 160901,390 83,1321253 1,4139248 TAX RATES ' The E6netffdflonal and statutory tax rate limit, including debt service, is $2,50 on eachn$~00.00 of assessed valp~ti,g~. i,17ie,.CitY•9f!Denton1,,,s:tax rate is ' $1.70 on "Ielh $100.00 of assessed valuation. The assessed valuation is 40% of true estimated value. TAX DUE DATES AND PENALTIES ' Taxe. are due on October 1 and become delinquent on February 1. Taxes may be paid in two installments, one-half by December 31, and the balance befote March 31. penalties due on delinquent taxes accrue: February 27., March 5%, April 6%, May 7%. Interest on delinquent taxes in addition to penalties, accrues all the rate ' of h% per month. No discount is allowed for early payment. 1 i -57- TAX ASSESSMENT AND COLLECTIONS TABLE III CITY OF DENTON, TEXAS Collection of Year Ended Total Current Year's September 30 Assessrent* Taxes During Year Ecge of Levy !I Coltleecctteded During Year 1963 $ 598,710 $ 545,358. $ 91.09 1964 648,283 608$596 ' 1965 722,718 683,137 93,88 1966 7859322 7329325 94.52 1967 877 537 93,25 1968 9230849 8873030 13,554 92 47 1969 1,005,004 9309679 94.49 1970 11057,259 994 426 92.60 1971 ' 94.10 ' 1,135,935..: ,1 088 047. 95.78 , 1972 11409,244 1,349,462 95.76 r * Total tax,levy figures;are adjusted to inclu¢o debit and credit memos. 1 1 MISCELLANEOUS STATISTICAL DATA TABLE 3V CITY OF DENTON, TEXAS r September 30, 1972 ' 1 Area of City 28,83 square miles Date of Incorporation September 26, 1866 Form of government Council = Manager Total City employees 525 r Year Ended Se tember 30 ' 1968 1969 1970 1971 1972 Estimated population 39,000 "39,000 38,865 400000 411000* Tax rate - per $100 r valuation 1.50 1.50 1.50 1,50 1,70 Assessed valuation 61,529,628 67,0009291 119076,036 7699460640 83,1323253 Electric production (kwh) 2221405,163 263,064,197 3019281,140 325,1639299 37792000000* ' Water production (1,000 gallons pumped) 1,704,250 11939,516 293409737 205210996 2,800,000* Electric customers ,',10'0050 X0;446 11,016 ` 11'015 11,837 r Water customers 9,650 91837 109177 10,542 11,033 ' General Fund revenue 1,764,212 21655,172 298759470 31287,156 3,454,148 General Furfd expenditures 2,n34,625 29474,933 30024,464 30383,632 316339410 1 * Estimated. r r r r .S9•~ r