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1 CITY OF DENTON, TEXAS
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ANNUAL FINANCIAL REPORT
FF SAL YEAR 1968a 19ou
t
1
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' CITY OF DENTON, TEXAS
Table of Contents
1 Transmittal L,ettor
Accountants' Report
PART I
Exhibit
Condensed Balance Sheets - All Funds, September 30, 1969 A
Gvnerll Fund
Balance Sheet, September 30, 1969 B
Statement of Revenues, Expenditures and Encumbrances and
Fund Balance (and Comparison with Budget), Year ended
September 30, 1969 C
' Debt Service Fund
Balance Sheet, September 30, 1969 D
Statement of Revenues, Expenditures and Fund Balance,
Year ended Sept mber 30, 1969 E
Special Assessment and Capital Projects Funds
Combined Balance Sheets, September 30, 1969 F
Combined Statement or Fund Balances, Year ended
September 30, 1969 C
'Electric System Fund
' Balance Sheet, September 30, 1969 11
Statement of Earnings (and Comparison with Budget),
Year ended Septr.Tobar 30, 1969 1
Statement of Retained Xarnings, Year ended
' September 30, 1969 .1
Wnter and Sewer System Fund
Balance Sheet, September 30, 1969 K
Stnlfinent of F.arn;ngs (and Comparison with Budget),
' Year ended September 30, 1969 11
Statement of Retained Enrningn, Year ended
September 30, 1969 M
M low
z ~
C)fY OF DENTON, TEXAS '
Table of Contents Continued
PART 1. CONTINUED '
-Exhibit
Motor, i'ool Fund '
N
Balance Sheet, September 30, 1969
Statement of Earnings and Retained Earnings and '
investments by other Funds, Year ended 0
September 30, 1969
Working Cnpital Fund
P
Balance Sheet, September 30, 1969
~,:.oss), Year ended September 30, 1969 Q
Statement of rntnga
Statement of Investments (Deficiencies) by Other Funds, '
R
Year ended September 30, 1969
Trust Agency and Miscellaneous Funds
S
Combint,i Balance Shrets, September 30, 1969
Combined Statement of Fund Balances, Year ended T '
September 30, 1969
U t
Statement of General Fixed Asses, September 30, 1964
V
Statement of General Long-teen Debt '
Notes to Financial Statements
3
CITY OF DENTON, TEXAS
TaUI!~of Contc,,t9l Cos_t_iineed
t PART II
Schedule
Ccncrnl Fund:
l
Schedule of Other Revenues 1965 Comparison with Budget ,
' Year ended Septcnnber 309
Schedule of ExpeYd~r11rndedr~Septcmbera30eB1469d Comparison 2
With R'i.iget } ,
a f Ex pendi tares (and 3
Rlcctric Syslcan Fund - SchedYear ended September 30, 1969
' Comparison with Budget),
System Fund - Schedule of Expenditures (and 4
Water and Sewer SY Year ended September 309 1969
Comparison with Budget),
Genet?l Fixed Assets:
Sources, 5
Schedule of Changes in General Fixed Assets - by
Year ended September 30, 1969
Functions 6
1 SclandduActivitiiesF,eYear endedaSeptembers30,s1969y
Functions and 7
- By
Schedule of General 30, 1969
Activities, P emb g
Schedule of i.ung-tt-m Debt, Sep.ember 30, 1964
'
ScirRcglirer,entsc,rS~~ptembert3U~ 1r~ond 864 and Warrant and Interest 9
Schedule of Electric S„,stern Revenue Bond and interest 10
Req+ltrements, September 30, 1969
System Revenue Bond and interest 11
Schedqutrement9s Sept.emberr30969
Rc
12
Schedule of Bonds Authorized and Unissued, September 30, 1969
Yer.r ended September 30, 13
Schedule of Revenue Bond Debt Coverage,
' 1969 14
Schedule of Investments, September 30, 1969
15
Schedule of insurance in Force, September 30, 1964
e
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CITY OF DENIDN, TEXAS
Tnble of Contents, Continued !
PART III r
Tab ]]c !
Assetinvd Value and Estimated True Value of All Taxable
Property, Ten years ended September 30, 1969 1
Tax Rrites and Ttx Levies, Ten years ended September 30, 1969 11
Tax Levies and Tax Collections, Ten years ended September 30,
1969 III
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Rntio of Net General Ponded Debt to Assessed Value and Net r
Bonded Debt per Capita, Ten years ended September 30, 1969 IV
Schedule of Debt Margin, September 30, 1969 V
Miscellaneous Statistical Data, September 30, 1969 VI !
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C?t if 0~ 1)f'}1~1)1~ ,1111>rit'il~r~l p,1Yis7U01
,lanuary '1(j, 1970
V
Mr. Jim White
CI ty tlannFr,cr
City of Uenton
I)entoir, 'texas
I1var Mr. White;
'1he annual financial Report of the City of llenton, Texas for the fiscal year
ended !'epteinber 30, 1969 is submitted herewith.
Accountin S stem end_____ Reports
She city's accounting records for general governmental operations are maintained
on a modified cash basis, wltl+ the most important revenues being recorded when
earned and expen6itures being recorded when incurred. An exception to this is
records
dnterprhises basis are operation. maintained Accounting n aful
other to
for the city accrual
iur'is utilities and thim
haste.
I;adget;;ty control is maintained by a quarterly allotment system and the encum-
brance of allotment balances with purchase orders prior to their release to
' vandors. Purchase orders which exceed allotment balances are not released until
additional appropriations are made available.
'tile Municipal Finance Officers Association of the United States and Canada
' awarded tie 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 wit th the Govern-
' standards of financial reporting proq,.ulgated by the Natioal Commitee on
mental Accounting,. The 1968-69 Annual Financial Report submitted herewith
continues to meet these standards.
General Governmental Functions
' F_-venues for general governmental functiots totaled $1,$,61,749 in 1968-69, an
increase of 41.4 percent over 1967-68. General property taxes produced 32.4 per-
from vatinuarsources and thepincrease`toverplastnyearsareeshownTin theufollowingenue
tahulntlonl
t:B
1
_2_ Jarnunt,' 261 1970
hlr. ,li.n 4fltiite
Increase
Amount Percent Over ,°467-68 '
1'housandsZ of 'total (Th)usands)-
Revent~e Source
539 20.3 (45) '
Property Taxes and Penalties 597 22.3 450
Franchise and Other 's'axes 25 .9 2
Licenses and Permits 146 5,5 18
Fines, Forfeits, and Penalties 278 10'5 64 1
Charges for Current services 715 26.9 313
Utility Fund Contributions 360 13.6 62
Other Revenues 1
$ 2,655 100.00 $ 864
Assessed valuations of 72 million represented an increase of 1.4 percent over the 1
preceding year.
'the ratio of total collections (current and delinquent) to the current tax levy 1
for 1968-69 was 96.70 percent.
The ate on p.&c+ls$100C00nof assesseduvaluation. Theitax,rateldistributioneforc1968-692a,d
on 1
the preceding two fiscal years is as follows:
1968.69 1967.68 1966-f7 1
PurP1eo
8145 .9525 .9a:5
General Fund 6855 .5415 .5175
Interest t, Redemption Fund , 1
1.5000 1.5000 1.5000
'10tal Tax Nate 474,933.90 an increase of
m for general governmental
in purposes totaled aeApenditures for major functions
Fxpenditures 21.6 percent 1
21,6 p over 1967.68.
of the city over the preceding year are shown in the following tabulation:
Increase '
Amount Percent Over 1967-68
Thousands of Total 10u8ands
Function t
- tat 5.7 4l
General Government 141 11.9 21 296 Finance 76 3.1 28
Legal 336 13.6 47
llealth & Sanitation 5 l,0 13
fi8 20,0 114
Civil Defense 2
Police 337 13.5 '9 '
:ire 162 6.5 54
Community Development 286 11.5 92
Street Department 230 9.3 36 '
Parke & Recreation 9 10
Cemetary 23 23 , l,9 46 47 Library 27 l,l (113) 1
Non-Departmental 5 - 19
Other
2475 100% 441
1
' -3- January 26, 1970
Mr. .lim White
' Debt Administration
The rltiu of net baitided debt to assessed valuation and the amount of bonded
1 debt per c•ipita are useful indicators of the city's debt position to munici-
pal mannl,,oment, citizens, and investors. These data for the City of Denton
at the end of the 1968-69 fiscal year were as follows;
'
1968-69 Actual Valuation 177,690,ODB
71,076,036
1968-69 Assessed Valuation !40% of Actual) 6,283,000
Total General Obligation Debt f 25,531)
1 less; Amount Available In Debt Service
6,257,469
Net Debt
'
Ratio Net Debt to Assessed Valuation 8.807.
430,5:51
1969 Estimated V)2ulation l 35 1
Per Capita Assessed Valuation 143.68
Per Capita Net Debt
During the past year, $220,500 of tax bonds were retired. On April 15, 1969,
$1,285,000 of general obligation bonds were sold at a favorable effective interest
rate of 5.0622 percent.
Outstanding Electric Revenue Bonds at September 30, 1969 totaled $13,498,000.
' During the past year $542,000 of Fleccric Revenue Bonds 'were retired.
Outstanding Water & Sewer Revenue Bonds at September 30, 1969 totaled $4,425,000.
During the past year $135,000 of Water & Sewer Revenue Honda were retired. On April
15, 19690 $1,060,000 of Water & Sewer Revenue Bonds were sold at a favorable effective
interest rate of 5.1677 percent.
t The city's bonds are rated as follows; Moody's Standard & Poor's
AA
General Obligation Bonds A-1 A AA
' Electric Revenue huu.rs A A
Water f, Sewer Ruvenue Bonds
As of September 30, 1969, $1,062,000 was on hand in the electric reserve fund and
amountts specif0ied00inwthe bondnordinancewasebeing requiredsforeboth funds. are the
Mr. .lim White 4- lanuary 26, 1970
0,101 temporarily idle during the yc,ar was invested in tir,r, ,k-posits, savings
acco mts, U. S. 'troaanry Notes and Rends.
C1111 tal Pro e c t a Funds
I)urInp, the fiscal year end Ing September 30, 1969, the proculA n from general obli-
gation bond issues accounted for expenditures of $943,503 In street capital
projects. Water and sewer revenue bond issues accounted f,tr expenditures of
$1,917,214 in water & sewer capital projects and electrical r(:venue bond issues
accounted for expenditures of $227,624 in electrical capital projects. '
Authorized but unissued bonds at September 30, 1969 total(-(] ')15,000,000 as
follows: General obligation (streets & drainage) $1,000,000 and Revenue (electric) '
$14,000,000.
Capital project fund balances on hand at September 30, 1969 consisted of $657,450
in cash, and $2,144,985 in open time deposits. t
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 enter-
prise funds. As of September 30, 1969, the general fixed assets of the city amounted
to $7,854,568. This amount represents the original cost of the assets and is con-
siderably less than their present value. Depreciation of general fixed assets is
not rr.coy,nized 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 net income. Comparative data '
for the past two fiscal years are presented in the following tabulation:
Electric System
1969 1968 '
Gross Income $400010273 $31289083.
Net Income $1,170,311 $ 595,972
Income Available for Debt Service $2,170,765 $1,709,886 '
Average Annual Debt Service Requirements $ 888,949 $ 938,003
Debt Service Coverage 2.55 1.82
Water & Sewer System '
1969 1968
Gross Income $1,2079299 $x,043,811
Net Income $ 150,562 $ 66,E20 '
Income Available for Debt 6crvice $ 563,0 8 $ 474,054
Average Annual Debt Service ')requirements $ 3090533 $ 2300944
Debt Service Coverage 1.82 2.05 '
1
1 Mr. Jim White -5- Jaruary %6, 1910
' 'Ihe city charter requires an annual audit to be made of the books of account,
financial records, and transactions of all administrative departments of the city
by a Cert:ficd Public Accountant selected by the itybecinincludediinrthisrement
e leas bccn complied with and the auditors op
report.
The preparation of this report on a timely basis could not be accomplished without
1 the efficlent and dedicated services of the entire staff of the Finance Department.
I should like to express my appreciation to all members of the department who
assisted and contributed to its preparation. I should also like to thank your
office and the members of the City Council for their interest and support in
planning and conducting the financial operations of the city in a responsible and
proy,ressive manner.
e Respectfully submitted,
e W.It' ARY T
Director of Finance
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THE MUNICIPAL FINANCE OFFICI?RS ASSOCIATION
01 THE uN1TE1► STATES AND CANAIIA
ctrtifit~ that
THE ANNUAL FINANCIAL RE:P(j.,f 0E' r
'Tte, L,Lty of Denton, , TQ.xc.s
1=or the fiscal )~ecLl- mded Septemlr3o,1g85 1
CONFORMS TO THE PRINCIPLES AND STANDARDS OF
PUBLIC FINANCIAL REPORTING AS PROMULGATED BY THE
;fflanicipal finance offictro alwociation 1
AND THE
.Pationat Committee on 6obtrnnl£ntal 2Icountina
1 1 ~f
Prrrnlyd rtbruary IS, 1968, ('Arir Con nJn rr s~ ArrauArii
farur Avrr,ar
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F'EAT' MA1alw)C, Dil'iclil:I.l. Co.
(1.11111IED i'MILIC A("COIINTANIv
INx) 0641: MAIN I'L%Cl'
PA II. A ti, 'r r, *,,AS ?-,.!-,0
1
1 The Ci ty Coil Ile i 1
City of Denton, Texas:
We hrve ...(amincd the financial statements of the several `,unds
of the City of Denton, Texas as listed in Part I of the accompanying
table of contents. Our examination was blade in accordance with generally
acceptel auditing standards, and accordingly included such teits of the
accounci,ug records and such other auditing procedures as we considered
necessnry in the circl6nnLaTlces, except as stnted in the following para-
graph .
Due to stgniiicant weaknesses in the systern of Internal control
in the Working Capital Fund, we were unable to obtain sufficient competent
evidential matter to formulate an opinion an the financial statements of
that filial, therefore, we do not er.press an opinion on the balance sheet
of the Working Capital Fund as of September 30, 1969 or the related state-
ments of earnings (loss) and investments (deficiencies) by other funds for
the year then ended.
'ltlc utility -plant in service of the Electric System Fund is
recorded at the appraised VANO of rcc.]uslructivzl cost new, less deprecia-
tion, as described more fully ill note 2 to the financial statements, The
recordinvi of appraised values of fixed assets is not in aceordr.nce with
generally accepted accounting principles. Accordingly, in u+, opinion,
the $4,285,180.85 unrealized increment it valuation of utility ,lent in
service sh„uld be ded,ICted from the $20,617,455.24 utility bleat in service
i, the acCnrnprloying 0 (citric System Fund balance sheet and in the condensed
br,lvtccr sheets - 111 funds.
[n our opinion, except for the effect, if nny, on net earnings
of the amoun! or equity in loss of the Working Cnvital Fund In the state-
ments of carr.ings of the Electric System Fund ($38,865,67) and tae Water
and Scwer System Fund ($36,509.71) as to which we have been unable to
ot■r~
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satisfy ourselves (see second preceding paragraph); except for th,: need
' to deduct the unrealized increment from the appraised value of utility
plant in service in the accompanying balance sheets (see preceding para-
graph); except for the method of recording tax and assessment revenues and
' receivables described in note 6 to the financial statements; and subject
to the effect, if any, on the financial statements of the Electric System
Fund, of the ultimate outcome of the legal proceeding discussed in note
7(1) to the financial statements; such financial statements, exclusive of
those of the Working Capital Fund, present fairly the financial position
of the several funds of the City of Denton, Texas at September 30, 1969
and the results of their operations for the year then ended, in accordance
with generally accepted accounting principles applied on a basis consist-
ent with that of the preceding year.
The current year's supplementary data included in Schedules 1
' through 15 have been subjected to the same auuiting procedures and, in
our opinion, are stated fairly in all material respects when considered
in conjunction with the basic financial statements takes as a whole.
o During the course of our examination, we obtained no knowledge
of any violations of the accounting resttictiona imposed by the various
' revenue bond indentures except as explained in note 5 to the financial
statements. However, it should be understood that our examination was not
primarily directed toward obtaining such knowledge.
' January 22, 1970
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CITY OF DENibN, TEXAS '
Condensed Balen~e Cheets - All Funds ,
Septembei 3300 1969
------'Special
Assessment
Debt and Capital ,
General Service Pro ects
Assets
$ 110,492.32 7,500.32 19.,,&92.20
` C.sh 20,000.00 I0,000.o0 11299,985.00 '
Investments - at cost (Schedule 14) 144,929.18
Receivables: - - 1
Assessments 1379151.08 749263.64 -
Taxes - delinquent '144,929.18)
Less allowance for uncollected taxes (137,151.08) (74,263.64)
and assessments (note 6) _ _ -
Utilities - net (note 1) 1689772,29 33.33 41523.28
Other - net 26,540.52 7,997.08 14,921.40
Due from other funds and restricted asset account 12,764.96 ,
Prepaid insurance - '
Inventories - at average cost _
Restricted asset accounts t (note 2) - '
Property, plant and eq I'men - -
Less accumulated depreciation _ _
Investment in Motor Pool Fund (1,271.95) t
Deficiency in Working Capital Funr1
Amounts available and to be provided for
payment of general long-tern debt
1,513,321-98,
.73
$ 397,298.14 25,13_
Liabilities and Fund Balances
$ 52,903.69 - '
Accounts payable 86,970.57 -
Accrucd payroll and payroll taxes - 85,965.32 '
Accrued interest on revenue bonds able -
Construction contracts and retained percentage pay - - _
Customers' deposits _ -
Bonded debt and other long-terra liabilities 181047.96 - 9,219.30
Due co other funds 20,899.35 24,560.49
Reserve for encumbrances
Reserves for revenue bond debt service and _ .
retirement (note 3) - '
Unrealized increment in valuation of utility plant -
in service (note 2) -
_
Investments (deficiencies) by General and other funds
Investment in general fixed assets tal agencies -
Contributions by nninicipay and -
Appraised value of equipment at in.eption governmnmen
Retnined earnings 218,476.57 25,530.73 19393,576.77 '
Fund balances
Contingent liabilities (note 7) 2 3 1,513.3
See accompanying notes to financial statements. '
Exhibit A
' F 0-- Trust
Agency and General General
Water. Working Miscel- Fixed Lr,ng- term
Debt
Electric and Sewer Motor Pool Capital lancoue Assets System stem
271,037.58 229,058.34 35,529.17 11,805.80 43,621.17
' 20,000.00 20,000.00 1209000.00 - - -
941,418.63 495.83 - - -
169659.96 4,290.90
46,265.68 194,228.80 250,000.00 180811.34 3,986.50
' 20=247.68 _ 392,510.06
2,6590851.62 1,295,197.93 7,85'+,567.62
28,867,376.24 10,906,301.04 1,056,551.14 2,524.09 - - -
' (8,221,427.10) (4,945,346.57) (610=533.84) 705.20 _
76,811.66 749440.91
(44,261.95) (41,578.91) - 6,283_,000.00
3.86.49 a7 7 854 762 6,283,000.00
24,653,980.00 7 73 84.44 852,042.30 426°-
JI~
- "
' 157,288.40 10,759.06 68,821.25 13 4,648.05 - -
31 061.68 ,989.51
195,837.30 51,875.52 -
34,364.81 101,877.96 - - 30.00 - -
2140196.38 6,283,000.00
' 13,498,000.00 4'419,925.57 - 440,000.00 41,885.18 -
33,673.53 _ - -
1,464,986.34 353,953.93 -
41285180.85 _ 2559605.97 (87,112.81)
7,854,567.62
2,057=012.32 -
220,101.78
4,7399390.71 629,483.22 3769334.55 - 5,692.49 -
e
Exhibit B
CITY OF DENTON, TEXAS
General Fund ,
Balance Sheet
September 30, 1969
1
Assets '
Cash $ 1700492.32
Time ce.ttificates of deposit (Schedule 14) 20,000.00 '
Tnterw receivable on time certificates
of deposit 942.54 t
Accounts receivable $ 179,355.60
Less allowance for uncollectible accounts 11,525.85 167,820./5 1
Taxes receivable - delinquent 137,151.0o
Less allowance for uncollected delinquent
taxes (note 6) 137,151..08 - t
Due from other funds 26,540.52
Prepaid insurat,cr_ 12,764.96 '
Deficiency in Working Capital Fund (Exhibit R) (1,271.95)
$ 397,298.14
Liabilities Reserve and Fund Balance '
Accounts payable $ 52,903.69
Accrued payroll and payroll taxes 86,970.57 t
Date to other funds 18,047.96
Reserve for encumbrances 20,899.35
Fund balarx:e (Exhibit C) 218,476.57 '
Contingent liability (note 7)
$ 397L298_14 '
See accompanying notes to financial sta[unents. '
1
Exhibit C
' CITY OF AENTON, TEXAS
General Fund
Statement of Revenues, Expenditures and Encumbrances
and Fund Balance (and Comparison with Budget)
Year ended September 30, 1969
Actual
Budget over (under)
revised, Actual budget
Revenues:
General property taxes (note 6): $ 503,621.00 503,436.75 (184.25)
Current taxes 20,100.00 24,457.44 4,351.44
' Delinquent taxes 8,650.00 109951 2,301.67
Penalties and interest
532,371.00 538,845.66 6,474.86
Other revenues (Schedule 1): 561,108.00 591,588.82 30,480.82
Other taxes
Fees from revenue-i'roducing 290,300.00 300,225.53 9,925.53
facilities 127,1+00.00 145,859.85 18,459.85
Fines and fees 22,500.00 25,522.86 3,022.96
Licenses and permits 62,411.00 59,705.90 (2,:'05.10)
' Traannssffeerrs s from roevethenur es funds (note 4) 993,423.00 _ 993,423.00
Tr 2,057,142.00 2,116,325.96 59,183.96
Total revenues 2,589,513.00 2,655,171.82 65,658.82
Expenditures and encumbrances (Schedule 2):
Salaries and wages 1,724,403.00 19726,549.17 2,146.17
' Supplies 132,757.00 132,506.19 (250.81)
Maintenance 175,387.00 201,821.53 26,434.53
2850406.00 301,852.34 16,446.34
Services 1,790.00 1,142.52 (647.48)
Sundry 79,446.00 79,843.48 397.48
Capital outlay 25,367.00 26,532.46 1,165.46
Nondepartmental expenditures
Transfers to other funds for 4,686.00 _ 4,686.21 .21
special projects
Total expenditures and
encumbrances 2,429,242.00 2,Y474,933.90 45,691.90
t Excess revenues over expendi-
tures and encumbrances 160,271,00 180,237.52 19,966.92
_Y
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Fund balance, September 30, 1968 3B,238.65 38t238.65
Fund balance, September 30, 1969 $ 198 509.65 2181476.57 11 966.92
See accompnnying nn;re to financial statements.
Exhibit D
CITY OF DENTON, TEXAS
Debt Service Fund
Balance Sheet t
September 30, 1969
t
Assets '
$ 7,500.3?
Cash ,
10,000.00
Open time deposit (Schedule 14)
33.33 '
Interest receivable on open time deposit
7,997.08
Due from other funds '
$ 74,2b3.b4
Taxes receivable - delinquent
Less allowance for uncollected delinquent 74,263.6 4 -
taxes (note 6) $ 25_ 530,3
Fund Balance
,
Fund balance (Exhibit E) $ 252530.73
t
See Accompanying notes to financial statements. t
Exhibit E
' CITY OF DENTON, TEXAS
' Debt Service Fund
Statement of Revenues, Expenditures and Fund Balance
Year ended Seyember 30, 1969
' Revenues:
General property tares (note 6) $ 443,915.22
Interest on investments 10683.33
445,598.55
Expenditures:
Redemption of serial bonds 2200500.00
Interest on bonds 204,228.48
Paying agent;' fees 396.26
425,124.74
Excess revenues over expenditures 20,473.81
1 Fund balance, September 30, 1968 51056.9"
Fund balance, September 30, 1969 $ 25,530.73
See accompanying notes to financial statements.
CITY OF DEMON, TEAAS '
Special Assessment and Capital Projects Funds '
Combined Balance Sheets
September 30, 1968
Assets Total
Cash $ 193,892.20 '
Open time deposits and savings accounts (Schedule 14) 1,2990985.00 '
Interest receivable on investments 4,523.28
Assessements receivable 1449929.18
Less allowance for uncollected assessments
(note 6) (144,929.18)
Due from other funds 14,921.40 '
$ 11513,321.88
1
Liabilities, Reserve '
and Fund Balances
Construction contracts and retained percentage
payable $ 85,965.32 '
Due to other funds 9,219.30
Reserve f,,r enctunbrances 24,560.49 '
Fund balances (Exhibit G) 1,393,576.77
$ 11513, 32.1 .88 '
See accompanying notes to finsncial statemen.s.
' Exhibit. F
1
5
' F U N D S
Street Fire Park and Library Municipal
improvement Station Recreation Building Building
166,262.29 .84 19560.49 - 26,068.58
' 1,260,0,)0.00 120985.00 27,000.00 = =
4148-).00 43.28
' 144,929.18 - - '
(144, 929. 18)
- '
' 14.921.40
1,445,663.69 13j029_ 9._12 28,560.44 26,068.58
1
' 62,996.35 - - - 229968.97
5,219.30 - 4,000.00 -
- - 24,560.49 -
1,371o448.04 13,029.12 - - _5,099.61
' 145,G63.69 132029.12 28,560,49 - _ 26it168.58
1
1
t
CITY OF DENTON, TEXAS
Special Assessment and Capital Protects Funds '
Combined Statement of Fund Balances '
Year ended SeQtember 30, 1969
t
Total
$ 697,891.82
Fund balances, September 30, 196 '
Additions: 1,285,000.00
Sale of bonds 77,936.31
Collections on special assessments (note 6) 45,941.31 t
Interest on investments 243,747.33
Encumbrances carried over from prior year 658.94
Transfer from General Fund
Other 190129.06 '
1,722,112.99
Deductions: 24,5fi0.49 '
Transfer to reserve for encu-brances 1,001,867.55
Expenditures for property and equipment 190260428.04 '
$ 1,393,576.77
Fund balances, September 30, 1969
1
1
O
t
See accompanying notes to financial statements.
Exhibit C
1
' F U N D S
Street Fire Park and Library Municipal
1 Improvement Station Recreation Building Building
658,864.13 12,479.04 26,548.65
1,285,000.04 - - - -
' 77,936.31 - _ =
43,805.00 550.08 1,286.27
2360216.21 23,274.22 34,256.90
658.94 -
' 19,129.06 - - -
1,662,086.58 550.08 24,560.49 34,915.84
_ - 24,560.49 - -
943,502.67 - - 34,915.84 23,449.04
' 943,502.67 - 24,560.49 34,915.84 230449.04
1j,77 448 13,029.12 - 3,099.61
1
CITY OF D£NTON, TEXAS t
Electric __.ynte S_ m Fund
Balance Sheet '
September 30, 1969
Assets '
Current assets: $ 271,037.58 t
Cash 20,000.00
Time certificates of deposit (Schedule 14) 16,659.96
Interest receivable on investments 200247.68
Prepaid insurance
Receivables (note 1): $ 414,478.87
Accounts receivable 569,762.74
Unbilled revenue 984,241.61
(42.8224$) 91+1,418.63
Less allowance for uncollectible accounts 4_ 66 5.68
Due from other funds and restricted asset account 19315,629.53
Total current assets
Restricted asset accounts: '
Revenue bond debt service (notes 3 and 5) 19010.68
Cash 735,500.00
Certificates and time deposits (Cchedule 14) 2,416.25 738,926.93 ,
Interest receivable on investments
Revenue bond reserve (note 3): 131.25
Cash 937,000.00 '
Certificates and time deposits (Schedule 14)
Investments in U. S. Government Obligations 124,846.13
(quoted market, $1159782.00) (Schedule 22 ~ 1,0629000.00
Interest receivable on investments t
Revenue bond construction: 1609282.80
Cash 295,000.00
Open time deposit (ScliFdule 14) 655.55 4559938.35 '
interest receivable on investments 402,986.34
Revenue bond extension and improvement (note 3) - cash
Utility plant in service at appraised value (note 2): 243,764.25 ,
land and land rights
Electric plant production and distribution
facilities, less accumulated depreciation 20,373,690.99 209617,455.24 '
of $8,221,427.10 28,493.40
Construction work in progress 76,813.66
Investment in Motor Pool Fund, at cost (Exhibit 0)
Deficiency in Working Capital Fund, at net under- (44,261.95)
lying book value (Exhibit R) $ 24,6553,980,00 '
See accompanying notes to financial stat(inints. '
Exhibit 11
' Liabilities, Reserves and Retained M rnings
Current liabilities;
' Accounts payable $ 1571288.40
Accrrked payroll and l.ayroll taxes 31,0:1.68
Due to other funds 17,408.48
' Customers' deposits 214,196.38
Revenue bonds due within one year 509000.00
Total current liabilities 469,954.94
t Current liabilities payable from restricted assets:
Contract payable $ 349364.81
Revenue bonds due within one year 550,000.00
' Accrued interest on revenue bonds 195,837.30
Cue to Electric System Fund 16,265.05 796,467.16
Long-term debt - Electric revenue bonds, .05% -
5-1/27„ payable serially in varying amounts
to November 1, 1990 (notes 3 and 5)
(Schedules 8 and 10) 13,498,000.00
' less portion due within one year:
Payable from current assets 50,000.00
Payable from restricted assets 550,000.00
6001000.00 1298989000.00
Reserves (notp. 3):
Reserve for revenue bond retirement 1,062,000.00
Resnrve for revenue bond extension and
improvement 402,986.34 1,464,986.34
Pnrealized increment in valuation of utility
plant in service (notes 2 and 4) 49285,180.85
Retained earnings (Exhibit J) (note 4) 49739,390.71
Contingent liability (note 7)
1 $ 24980.00
1
Exhibit I
CITY OF DENTON, TEXAS '
Electric System Fund
I ~ 1
;statement of Earnings (and Comparison with Budy,(A )
Year ended SeQtember 30, 1969 '
Actual '
Budget over (i,nder)
(revised) Actual b.~Ldj,et '
Operating revenues:
E'.ectricity sales:
Customers $ 3,8301350.00 3,848,880.21 18o536 21
'
Intergovernmental 75y000.00 120,215.12 45,215.02
Other 22,000.00 32,177.83 100177.83
3,927,350.00 4,0019273.06 739923.06 '
Operating expenses excluding depre-
ciation (Schedule 3): t
Salaries and wages 483,566.73 481,664.74 (19901.99)
Fuel for electricity production 728,732.00 7449559.37 150827.37
Supplies 48,295.00 529254.56 39959.56
Maintenance 85,631.11 569341.16 (29,289.95)
Insurance 549686.00 56,049.20 10363.20
Administrative services (note 4) 208,754.00 2089754.00 -
Provision for uncollectihle accounts - 13,427.70 13,427.70 '
Services 79,578.67 56,370.20 (23,208.47)
Economic development 269666.67 22,002.70 (4,663.97)
Sundry 20704.33 _ 218.94 (2,48539) ,
Equity in loss of Wurking Capital Fund 38,865.67 38,865.61
1,118,614.51 1,730,508.24 (11,893.73)
Operating income before '
depreciation 2,208,735.49 2,270,764.82 62,029 33
11upreciatLori (note 2) 715,280.65 7159280.65 - _
Operating{ income 1,493,454.84 1,555,484.17 62,0?9.33
Usher income - intereat on investments 83,000.00 _ 89,990.60 6,9_()0.6_0 '
1,570,454.A 1,645,474.77 69,019.93
nthor deductions - interest and fees
Oil bonds 492,518.00 475,163.61 (17,354.39) '
Net, earnfnKa $ 1,083,936.84 121701311.16 84.32
9re accompanying notes to financial statements. '
O
Exhibit J
1 CITY OF DENTON, IFKAS
1 Electric SyStem Fund
Statement of Retained F,arninga
' Year ended Se2cember 30, 1949
1 ,504,946.29
Balance, September 30, 1968 $ 4
Add: $ 19170,311.16
Net earnings (Exhibit I)
Decrease in reserve for revenue bond 15,640.66 1,185 82
debt service 516909898.11
Deduct:
' Increase in reserves:
Revenue bond retirement 34G2,,267267..Ob
6
Revenue bond extension and improvement 406,298634
53.40
545,254.00 95140
Transfer to General Fund (note 4) $ 4,739,390.71
Balance, September 30, 1969 a~-
O
1
See accompanying notes to financial statements.
1
e
r
CITY OF DENTON, TEXAS
Water and Sewer System Fund t
Balance Sheet r
September 30, 1969
Assets
Current assets: $ 229,058.34 '
Cash 24,000.40
Time certificates of deposit (Schedule 14) 4,290.90 e
interest receivable on investments 194 ,S0
Duv fr)m other funds 44',578.04
Total current assets r
Restricted assets: 3 and 5)
Revenue bond debt service (notes $
Cash 55.35 r Open time deposits (Schedule 14) 889900.00
gg,162.78
Interest receivable on investments - 207.43 Revenue bond reserve (note 3) - certificates 350,440 00
and time deposits (Schedule 14)
Revenue bond construction: 303,2701.ib
Cash
Open time deposit (Schedule 14) 5509000.00
2,749.99 856,025.15
Interest receivable on investments
Utility plant in service, at cost (note 2): 100,7;9.42 r
land and land rights
Vnter utility plant less $2,556,660.26 4,327,396.65
accumulated depreciation r
Sewer utility plant less $2,308,665.83 1,030,472.76
accumulated depreciation
Water rights less $80,020.48 accumulated 170,043.7[1 5,629,213.03 '
depreciation "
331,141.44
Construction work in progress
Investment in Motor Pool Fund, at cost (Exhibit 0) 74,440.91
Deficiency in Working Capital Fund, at net under- _(41,578.91)
lying book value (Exhibit R) $ 797369582.44
See accompanying notes to financial statements
---a...M,.®
r Exhibit K
r
r
r
'
Contr Liabilities, Reserves,
ibutions +and Retained Earnings
Current liabilities: $ 100759.06
Accounts payable 13,989.51
Accrued payroll and payroll taxes 199925.35
r Due to other funds 140,498.69
Current portion of long-term debt 185,172.61
Total current liabilities
r Current liabilities payable from restricted assets:
Construction contracts and retained percentage $ 1019877.96
payable 33,333.33
Current portion of long-term debt 51,875.3 187,086.81
Accrued interest on revenue bonds
Long-term debt: 6-1/27Water and sever revenue bonds, 3% _ payable
serially in varying amounts to July 15, 1990 4,425,000.00
' (notes 3 and 5) (Schedules 8 and 11) 72,705.57
Contract payable 494970705.57
Less portion due within one year: 140,498.69
Payable from current assets 33,333.33
Payable from restricted assets 173,832.02 40323,873.55
r Reserves (note 3):
r Reserve for revenue bond debt service 39953.93
350,000.00 353,953.93
Reserve for revenue bond retirement
Contributions by municipality and governmental 2,057,012.32
agencies
629,483.22
Retained earnings (Exhibit. M) (note 6)
$ 7,736,582.44
1
r
Exhibit L
CITY OF DENTON, TEXAS
14, ter and_ Sgw.er -~Y- rn Fund I
Statement of Earnings (slid Comparison with Budgo!t) '
Year ended September 30, 1969
1
Actual
Budget over (under)
Srevised ACtual budget
operating revenues: t
Water sales: $ 764,900.00 8290347.14 640447.14
Customers 16,500.00 30,203.00 139703.00
Intergoverwental 285,400.00 308,972.32 23,572.32 '
Sewer service charges 25,350.00 34,255.75 8,905.75
Tapping !ees 20350.00 40521.17 21171.17
Other '
1.044.500.00 1207.299.38 112.799.38
Operating expenses exi.'uding
depreciation (Schedule 0: 4839491.79 2860187.77 2,695.98 '
Salaries and wages 67,3c,3.00 68,999.49 1,606.44
Supplies 539x:63.00 329345.54 (219317,46)
Maintenance 49,641.00 599112.47 91471.47
Production power 69,584.00 69,584.00
Administrative services (note 4)
Services 76,287.33 591851.51 (160435.82)
,
Provision for uncollnctible accounts 79151.63 71151.53
6,000.00 5,952.69 (47.31)
Insurance 13,333.33 9,574.87 (31758.46)
Economic development - 6,458,88 6,458.88
Bond issuance expense 1,333.67 20513.15 1,119.48 '
Sundry - 36,509.71 30,'0).71
Equity loss in Working Capital Fund _
67.0,127.12 c'l.61 23,514.49
operating income before
depreciation 473,772.88 .163,057.17 89,284.89
fepreciatton (note 2) 295,677.32 295,677.32 _ -
Operating Income 178,095.56 267,38)./+5 8'),284.89
other income - interest oil investment 35,000.00 35,151.52 - 151.52
213,095.56 3029531.97 89,436.41
'
other deduction - interest and ftes 128,862.5 151969.79 23 07.29
on long-term debt
Net earnings $ - 84,233.06 - 150,562.18 66,329,12
Sec accompanying notes to iinaacial atatements.
a
Exhibit M
CITY OF DENTON, TEXAS
1 Water and Sewer System Fund
t;tattKnent of Retained Earnings
' Year ended Se-Rtsmber 30, 3960
1 Balance, September 30, 1968 $ 734,746.09
e Add:
Net earnings $ 150,562.18
Decrease in reserve for revenue
bond debt service 26,309.5 176,871.71
911,617.80
Deduct:
increase in reserve for revenue
bond retirement 112,303.58
Transfer to General Fund (note 4) 169 282,134.58
' Balance, September 30, 1969 $ 629,483.22
t
1
t
t
' See accompanying notes to financial statements.
1
Exhibit N
CITY OF PENTON, TEXAS
Motur Yool Fund '
Balance Sheet ,
September 30, 1969
e
A:+sets t
$ 35,529,17
c'.n sh ,
120,000.00
certificates and time deposits (Schedule 14)
tntereat receivable on certificates and 495.83 '
time deposits
250,000.00
I,ue from other funds
$ 11056,551.14
Equipment, at cost 61003:.84 446,017.30
Less accumulated depreciation r---- '
$ 852 042.30
Fund Ralnnce '
Appraised value of equipment at inception, $ 220,101.78
June 1, 1957
t
Investments by other funds (Exhibit 0) 255,605.97
376,33_4,55
P trained earnings (Exhibit 0)
$ 852AOh2_30 '
1
s;r,, ncc0mpnnytng notes to financial statements. '
1 Exhibit 0
CITY OF DEN N, TEXAS
' Motor Fool Fund
Statements of Earnings and Retained fitrniegs
and Investments by Other Funds
Year ended September 30, 1969
Earninky and Retained FnrninAs
$ 1971544.(10
Equipment rental
1
Gain on sale of equipment 11,143.24
4,283.33
Intarest income 212,970.57
' Depreciation, computed on a straight-line basis
151,229.80
' over the estimated useful lives of the assets
Net earnings 550740.77
320,593.78
Retained earnings, September 30, 1968 $ 376,334.55
' Retained earnings, September 30, 1969 -
' Investments b Other Funds
Water
Electric and Sewer Working
System System General capital
1 Total Fund Fund Fund Fund
Balance, Septc-mher 30, 1968 $ 230,433.34 71,984.45 72,792.74 85,656.15
172.63 41827.21 11648.17 179992.05 705.20
Invested in current year 25,
Balance, September 30, 1969 $ 255,605.97 76,811.66 74,440.91 103,648n20 705.20
' Sec accompanying notes to financial statements.
-risoo
Exhibit P
CITY OF DENTON, TEXAS
Wckln Ca ital Fund '
Balance Sheet t
September-30, 1969
Assets '
5 11,805.80
Cash t
!8,811.34
»ue from other funds
392,510.06
inventories, at average cost
2,524.09
Equipment, at cost
'
Investment in Motor Pool Fund, at cost (Exhibit 0) 705.20
$ 426,356.49
Liabilities and Investments (Deficiencies) by Other Funds '
$ 68,821.25
Accounts payable '
4,b48.G5
Accrued payroll and payroll taxes
440,000.00
Uue to other funds 513,469.30
Total liabilities
Investments (deficiencies) by other (81,112.81.) '
funds (Exhibit x) $ o6. 35~i.49
~a~n
1
See accompanying notes to financial statements.
' Exhibit
t CITY OF DENVN, TEXAS
Working Capital Fund
Statement of Earnings (Loss)
O Year ended Se2ttember 30, 19(19
e
Machine Central
Total Warehouse Shop g a a storeroom
Sales to other departments $ 548,169.151 4259395.47 5,935.02 1100095.79 61742.91
618 4
ese cost of sales 382.37 3,816.06 101=949.--94 6, 323.21
Less 7__164 SOb , -
t
Cross profit (loss)
on sales (70,302.45) (80,986.90) 2,118.96 80145.85 419.6
Services provided 5or 101,133.66 20,681.53 17,266.50 63,185.63 -
other departments _ 31.48 419.64
30r 8_ 31.21 (601305.37) 19,385.46 71,3
Operating expanses: arief and Wages 949475.45 12,333.05 23,289.88 589852. -
Sal
1,878.71 121.27 585.95 11171.49
Supplies
- -
Maintenance 10121.57 302,46 633.65 185.66 - Equipment rental 29544.00 - 19200.00 1,344.00 _
.
2, ,119.02
Miscellaneous _7,303.65 335.00 1 3 ,84963
107,323.38 159091.58 26,828.50 65,403.30 -
7 . 928.18
Net earnings (1088) $ (76,tr~ 99217) 758`) 43 04) 5 -419.64
1
' See accompanying notes to financial statements.
Exhibit R
CITY OF DENTON. TEXAS
Working Capin 1•unb '
Stntcmimt of Investments (Deficiencies) by Oth..•r Fi nds 1
Year ended Sew-mber 30, 1969
Electric Water and
General System Sewer
Total Fund Fund System Fund
Investments
Sept(deficiencies) ember 30, 14b3 by other $(10,620.64) (155.16) (5,396.28) (5,069.20)
funds, S '
Deduct net loss (Exhibit Q) 76,492.17 1,116.7" 38,865.67 36,509.71
Investments (deficiencies) by other
funds, September 30, 1959 $(87,112.81)(1,271)(44,24 (41*578~91)
1
1
1
t
see accompanying notes to financial statements.
1
Exhibit S
CITY OF DENTON, TEXAS
Trust Agency and Miscellaneous Funds
Combineu Balance Sheets
September 309 1969
r
F U N D S
Fznily
Fowler Parks and
Assets Total Library Payroll Airport
r Cash $ 43,621.17 1,735.99 41,885.18 -
r Due from other funds 3,986.50 - - 39986.50
$ 47,607.61 1.735.99 41 3,986.50
1
Liabilities
and Fund Balances
Customers' deposits $ 30.00 30.00 -
Due to other funds 419885.18 - 419885.18 -
Fund balances (Exhibit T) 5,692.49 1,705.99 - 31486.50
$ 47,607.61 1,7~ 3_ 5 41,88518 3,986.50
1
r
0
1
i
r See accompanying notes to financial statements.
1
ti
1
Exhibit T
1
CITY OF DENTON, TEXAS
Trust, Agency and Miscellaneous Funds '
Combined Stntement of Fund Balances
Year ended Se2tember 30, 1969 '
F U N D S
Emily
Fowler Parks and
Total Library Payroll Airport
Fund balances, September 30, 1968 $ 10,112.47 - - 10,112.47 '
Additions: O
Revenues designated for library
improvements:
Contributions 2,070.04 2,070.04 - -
Library fines 982.78 982.58 - - 1
Revenues designated for park
improvements and maintenance,.
Transfer from General Fund 4,027.27 - - 49027.27 '
Other 8,147.23 - 8,147.23
Revenues designated for airport
improvements 12,291.33 - 12,291.33
27,518.45 39052.62 - 24,465.83
Deductions:
Expenditures for library
improvements 1,346.63 19346.63 - -
''xpenditures for park improvements '
and maintenance 18,440.87 - - 18,440.87
Expenditures for airport
improvements 12,150.93 - - - 129150.93
319938.43 1,346.63 - 30_$91.80
Fin id balances, September 30, 1969 $ 5,692.49 11705.99 - 3,986.50
`;r'e accompanying, notes to financial statements.
y
Exhibit U
I
CITY OF DEMON, TEXAS
' Statcnrent cf Ceneral Fixed Assets
September 30, 1969
Ceneral Fixed Assets
Sched~iies 5, 6 ands
Land, at cost
$ 19264,930.93
Buildings, at cost 1,6489914.44
Improvements other than buildings, at cost 4,920,722.25
$78545
,67.62
Investment in General Fixed Assets
From General Obligation Bonds $ 79052,713.23
From current revenues 785,557.50
From gifts 16,296.89
' $ 71854,567.62
M
Note - Investment in vehicles and equipment by the General Fund in the amount of
$103,648.20 is recorded in the accounts of the Motor Pool Fund (Exhibit N).
See accompanying notes to financial statements.
Exhibit V
CITY OF DENTON, TEXAS
Statement of General Long-term Debt '
September 30, 1969
Assets
Amount available in D0 t Service '
Fund (Exhibit D) $ 25,530.73
Amount to be provided for payment of '
general long-term debt 61257,469.27
$ 6 283.000.00
Liability
General obligation bonds payable (Schedules 8 and 9) $ 6,283,000.00 t
1
See accompanying notes tc financial statements. t
r CITY OF DENI'ON, TEXAS
dotes to Financial Statements
September 30, 196q
(1) Receivables in the Electric System Fund include amounts due for water and
sewer services provided by the Water and Sewer Fund and garbage services
provided by the General Fund. Utility receivables are carried by the
Electric System Fund to facilitate accounting and collection procedures.
Each fund records its portion of the revenues and losses from these
accounts.
B (2) On September 30, 1967, the net carrying value of utility plant in service of
the Electric System Fund was adjusted to $21,015,293.00, the appraised
value of reproduction cost new, less depreciation as determined at that
t date by independent consulting engineers. The excess, $4,851,497.95, of
the recorded appraised value over acquisition cost, leas depreciation was
recorded in the accounts as "unrealized increment in valuation of utility
' plant in service." Subsequent additions to the utility plant have been
recorded at cost.
Depreciation based on acquisition cost is charged to earnings during the cur-
rent year. The excess of depreciation based on appraised value over that
based on acquisition cost, $283,158.55, was transferred from the unrealized
increment in valuation account the accumulated depreciation account.
Approximately the same amount will be transferred to accumulated deprecia-
tion until 1972, with declining amounts thereafter.
Depreciation is computed on the straight-line basis based on the estimated
useful lives of the assets. Following is a suTim ry of depreciation rates
of utility plants in service:
Electric System Fund
+ Fa to Amu n t
2% to 7.5% $ 19,3190135.75
Production plant
Transmission and distribution plant 2X to 57, 80767,235.33
General plant 21. to 207, _ 508,741.01
J' 28,595,118.09
Less acct-mulated depreciation 81221,427.10
690. 99
1
2 '
CITY OF DENTON, TEXAS ,
Kotcs to F'fnnncial_Sta_tements, Continued
Coat innCd
Wnt_ er ,znd Seer ;,,stem Fund
Hate pIIy~unt
2,801,511.29 '
Water utility plant: 27. to 7°/ $
Storage 2% to 5°/ 3,939,169.28 '
Transmission and distribution 2% to 10% _ 143,376.34
Equipment 6,884, 91
2,5561 6 '
Less accumulated depreciation _
$ 4,327,396.65
Sewer utility plant'. 4% to 10% 9699240.87 ,
Disposal 3% to 10% 2,370,397.72
Collection 31339,638.59 ,
2,3065,s3
Less accumulated depredation $ 1,030 972.76
2% 250,064.18 '
Water rights 8_ Ogg
Less accumulated depreciation $ 17 0 '
an
(3) The ordinances authorizing the issuance of electric revenue bonds created the
' e Re Revenue bond t accountg the eleccricusysatndem, the after deduc- ion
Improvement Fund. are pledged to such
of reasonable expenses of operation and maintenance, requirements
funds in amounts equal to the total annual principal and interest re
fu the bonds and amounts required to establish the Reserve account and the
£xt .00 are required to c. se
ension and improvement Fund. Funds of $1,062,000
'x aside in the Reserve account. After the required payments to the Revenue bond
the Extension and Improve-
debt service account and Reserve ac
monthly 1/2/t of the gross revenues of tile Eelectric
ment Fund is to receive
system. Such funds are to be used only for the purpose of a yt of maturing ,
extensions and improvements to the electric system or or p Ymen
principal and interest inthtoevent that t temRevenu bond debt aervicc and
Reserve accounts are unable '
The ordinances authorizing the issuance of water and sewer revenue bonds created
deduct account, Then eexpenses
the Revenue bond debt service account and the
revenues of the water and sewer system, equal ' ion of asonable
th tots
of operation and maintenance, are pledged to
uirementsnof theabondssand amoun
oe total annual pr,nctpal and interest req
3
CITY OF DENTON, TEXAS
S:otes to Financial Statements, Continued
' (3) Continued
required to establish the Reserve account. Funds of $350,000.00 are
required to be set aside in the Reserve aacct. and City alsocelexgcd
to maintain rates sufficient to pay all operating
and to produce net revenues, as defined in the ordinances, in
prin-
and interest on the bonds and Reserve account required pato pay yments as they
cipal amounts
1 become due.
f,4) The City Charter provides for an annual payment to the General Fund from
excess revenues (as defined in the City Charter) of the municipal utility
systems in an amount not to exceed six per cent of thu City's net invest-
ment in the utility systems. During the year ended September 30, 1969,
the General Fund received transfers of $545,254.00 from the Electric
System Fund and $169,831.00 from the allowed duSewertSystem Fund, whicthe
amounts exceeded the maximum payments
City Charter by $856.86 and $2,325.49, respectively.
The General Fund also receives payments from the utility systems for admin-
ititrvtive services. In the current year the General Fund received
$208,754.00 from the Electric System Fund and $69,584.00 from the Water
and Sewer System Fund.
(5) The ordinances authorizing the electriicbrreveenuein ads and vatey anstsewmer~ts
revenue bonds require that deposits
in the respective Revenue bond debt service accounts in amounts sufficient
to pay the interest scheduled to come due on the next interest payment
date and the principal on the next maturity date. At September 30, 1969,
balances in the Revenue bond debt service accounts of the Electric System
Fund and the Water and Sewer System Fund were $6,910.37 and $10,227.85,
respectively, less than the required balances.
The ordinances authorizing the electric revenue bonds require that the Revenue
bond debt service account and Reserve account be deposited in the First
National Rank in Dallas as trustee of the pledged revenues, and that all
ur, investments of the Reserve account and Extension and Improvement Fund be
held in escrow by the First National Bank in Dallas. The funds have been
Dallas,forxtheaaccounti f theeFirstrState
held deposited by the ttFirst First
2,tnk, Denton, Texas.
(6) The City has followed the consistent practice of preparing the annual budget
based on anticipated cash collections of tax and assessment revenues as
required by the City Charter. Accordingly, for proper comparison, tax and
recorded
assessment
4 '
CITE Of -,FNTON, TEXAS
,;otee to Financial Slatemenle, Coritimred
(6) Continued '
1he required ltyal accounting practices heing followed by the City vary from
generally accepted accounting principles under which revenues are recorded
on an accrual basis with an allowance for estimated uncollcctible amounts. '
Had the accounts been maintained in accordance with generally accepted
accounting principles, general property taxes in Exhibits C and E would have
been increased by approximately $4,100.00 and $3,900.00, respectively, and '
collections on special assessments in Exhibit G would have been decreased by
approximately $2,400.00 during the current year. Also the allowances for
uncollected amounts would have br.en decreased in Fxhibits R, D and F in the '
approximate amounts of $30,600.00, $23,500.00 and $60,000.00, respectively,
with a corresponding increase in the fund balances.
(7) The City is contingently liable on lawsuits summarized as follows: '
(a) In August 1969 a lawsuit was filed against the City in the amount
of $228,000.00 as the result of a fatal injury received by a '
City electrical unployee resulting from physical burns received
while on duty. At the present time, due to the recent Bete the
suit was instituted, the City Attorney cannot express an opinion t
related to the liability or absence thereof on the part of the
City.
(b) The City is also defendant in a lawsuit for a minimum of $1000000300 ,
based on an alleged injury resulting from a fall into an open
drainage ditch in September 1968. In the opinion of the City
Attorney, the City has a probable defense in the suit and a favor- '
able verdict will be o'.tained,
1
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' Schedule 1
CITY OF DENTON, TEXAS
t General Fund
Schedule of Other Revenues (and Comparison with budget)
Year ended Septembor 30, 196)
Actual
Budget over (under)
(revised) Actual budgek
other taxes:
Sales tax $ 5191000.011 549,498.63 30,498.6
Franchise tax - Lone Star Gaa Co. 19,461.00 19,460.62 (.38)
Franchise tax - General Telephone Co.
o 229647.00 22 1629.57 {17.43)
' of the Southwest
561,10,n..00 591,588.82 30,480.82
Fees from revenue-producing facilities: 1919300.00 200,573.06 9,273.06
Garbage charges - residential
Garbage charges - commercial 81,000.00 840158.06 3,158.06
Swimming pool receipts 8,000.00 89193.16 193.16
1 Cemetery fees 20000.00 1,837.50 (162.50)
Community building rent 5,000.00 59463.75 463.75
Airport - 3,000.00 - (3,000.00)
' 290,300.00 3000225.53 99925.53
Fines and fees: 126t000.0() 144,057.85 18,057.85
' Corporation court 200.00 24.3.00 43.00
Animal pound
Animal pound
Automobile pound 800.00 1,011.o0 211.00
Police record checks 400.00 _ 548.00 148.00
' 127,400.00 145,859.8' 18,459.85
Licenses and permits:
Zoning permits and petitions 1,100.00 10366.00 260.00
Tax certificates 1,000.00 1,123.00 123.00
b' Dog liCe119e9 100.00 108.50 8.50
' Electric and plumbing licenses 1,300.00 1,400.00 100.00 Vital statistics 1,700.00 2 ,049 .GO 349.00
Building permits 13,500.00 15,084.22 1,584.22
` Miscellaneous permits 1,500.00 1,755.6/1 255.64
1r 300.EN) 497.00 (3.00)
Loading zones
Garbage permits _ 1,80000 29145.50 345.50
22,500.00 25,522.86 3,022.86
Continued
2 Schedule 1. Cont.
CITY OF DENIONt TEXAS
General Fund
Srhr'dule of Oliver Revenues (and Comparison with Budget), Gontimued '
Actual ,
Budget over (under)
revised A< ir,nl budget
Filscelianeoos revenues: c '
Parking meter receipts V 4,000.00 x,685.99 (314.01)
f' Flectric inspections 3,500.00 3,861.50 361.50
Plumbing inspections 4,500.00 5,047.70 547.70
County fire runs 10200.00 1,389.40 189.40
County radio and identification 3,000.00 3,000.00 -
Rents and concessions 600.00 889.09 289.09 r
' Sale of scrap material 611.00 769.00 158.00
Matching fund 35,000.00 31,917.70 (39082.30)
Tn'evest income 3,000.00 4,767.02 1,767.02
Miscellaneous income 49000.00 40378.50 378.50
Paving assessment interest 3,000.00 r - (39000.00)
62,411.00 _ 599705.90 (2,705.10)
Transfers from other funds:
Electric System Fund: '
Administrative services 208,754.00 208,754.00 -
Return on net investment 545,254.00 545,254.00 -
Water and Sewer System Fund:
Administrative services 69,584.00 699534.00 -
Return on net investment 169,831.00 1u9,831.00 -
993,423.00 993,423.00 -
Total other revenues $ 2,057,142.00 21116,325.96 59,183.96
hi d k
e
ey'
W
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9
1
t Schedule 2
CITY OF DENTON, TEXAS
General Fund
Schedule of Expenditures and Encumbrances
(and Comparison with Budget)
Year ended Se2tember 30, 199
Actual
Budget over (under)
(revise(l) Actual budget
General government:
Salaries and wages $ 700499.00 77.E;18.31 6,929.31
Supplies 9,750.00 iO,821.63 1,071.63
1 Maintenance 8 5.00 2,365.34 1,540.34
Services 42,500.00 47,787.93 51287.93
Sundry 60.00 183.05 123.05
Capital outlay 1,200.00 2,345.11 11145.11
124,834.00 1409931.37 16,098.37
Legal:
Salaries and wages 55,402.00 55,028.97 (373.03)
Supplies 40112.00 4,842.47 730.47
Maintenance 686.00 800.96 114.46
Services 13,5;0.00 139050.63 (529.37)
t Sundry 200.00 123.82 (76.18)
Capital outlay 900.00 10411.87 1,011.87
74,880.00 75,758.72 878.72
Community development:
Salaries and wdgea .121,440.00 1219300.59 (139.41)
Supplies 31770.00 4,204.72 434.72
t Maintenance 11,280.00 13,728.37 2,448.37
Services 16,630.00 15,717.36 87.36
Capital outlay 5,596.00 6,620.03 1,024.03
158,716.00 162,571.01 3,855.07
Civil defense;
Salaries and wages 15,827.00 169021.01 194.01
Supplies 1,146.00 2,947.90 10801.90
'tai t
Maintenance 859.00 1,436.89 517.89
,
Services 21149.00 1,878.11 (270.89)
Capital outlay 7,032.00 2,522.92 4 509.08)
x 27,013.00 24,806.83 2,206.17}
Finance administration:
Salaries and wages 29,917.00 29,454.46 (462.54)
Supplies 795.00 558.96 (236.04)
Maintenance 125.00 118.00 (7.00)
Services 777.00 801.70 24.70
Capital outlay 11330.00 1,307.95 (22.05)
_ 32,944.00 32,241.07 (702.93)
COCIL irJr,~
2 Schedule 2 Cont. ,
CITY OF DENTON, TEXAS '
Genernndd
Schedule of Expenditures and En(~~~tinucds
(and Comparison with Bud ,c t) ,
A( L
),,.r (under)
SudgeC 6U(i'Ct
SrevisedZ A` r'1''!
Frr '
Purchasing: $ 12,457.00 1 219.15
172.58)
Salaries and wages 1,000.00 121.42
201.00 1'29.91 (71.09)
supplies 81.16
Maintenance 1,120.00 1,267.16
212.15 12__15
Services 200.00
15,062.79 74.79
Capital outlay 1498.00
9-- 8-
Accounting, billing,
and collecting: 146,979.00 1549206.40 70221.40
17,294.16 (1,028.84)
Salaries and wages 18,323.00
Supplies 30300.00 39569.22 269306..22
2
Maintenance 39,260.00 38,953.21 ( 26,23)
Services 500;00 _ 1.476.77 ____~__.76
Capital outlay J215,499.76 61_ 3, 7.7
2092362.00
1
Tax: 30,379.00 29,134.43 (1,205.72)
Salaries and wages 21738.00 1,332.28 ( >
Supplies 300.00 380.00 80.00
Maintenance 1,466.00 1,430.76 (35.24)
I J053.00 47 00
Services _ 11006.00 2 558.53) '
Capital outlay 359ggq,00 33,330.47
liealth inspection: 80930.00 81452.41 (477.59) '
Salaries and wages 483.00 330.54 (152.46)
560.62 226.62
Supplies 334.00 183. 2
Maintenance 7,528,00 5,344.45 (2,50
Services _695.00 _ _ 695.50 .
y, Capital outlay 17,970.00 15,383_52 (2,586.48)
199,000.00 196,148.08 (2,851.92)
S,3nltation - collection;
23 255
Salaries and wages 15,729.00 31 ,984..23
'
Supplies 25,255.00 31, 516.12 6,201.12
30,953.08 (406.92)
Maintenance 31,360.00 .10
Services 9,488.00 , 9,488.10
Capital outlay 284 3 257.61
280 832.00 ,089.61 - '
Continued
3 Schedule 2. Cont.
CITY OF DENTON, TEXAS
' General Fund
Schedule of Expenditures and Enc,.r,brances
(and Compari9on With B(Idget), Continued
O !,c turd
Rudgr•t over (under)
~rc_visrd2 Actual budget
Sanitation - disposal:
-Salaries and wages $ 21,000.()n 20,464.67 (535.33)
"
Supplies 934.01 755.24 (178.76)
Maintenance 7,20C),(jr) 5,680.00 (1,520.00)
Services 10,214.00 9,608.00 (606.00)
Capital outlay - - 161.55 161.55
39,348.00 36,669.46 (29678.54)
' Police:
Salaries and waged 34f,,923.00 390,297.1'+ (61625.90)
Supplies 24,898.00 28,568.04 (329.98)
Maintenance 23,204.00 25,091.20 11887.20
' Services 309795.00 29,718.74 (1,076.26)
Sundry 1,330.00 394.95 (930.05)
Capital outlay - land 900.00 862.50 (37.50)
Capital outlay - plant and equipment 6,871.00 8,882.44 21011.44
488,921.0r) 483,819.95 (51101.05)
Fire:
Salaries and wages 303,560.00 297,575.77 (5,984.23)
Supplies 7,928.00 8,623.76 695.76
Maintenance 5,908.00 6,578.65 670.65
Services 18,235.00 - 18,233.15 - (1.85)
Capital outlay 5,614.00 5,613.41 59)
341,245.00 336,624.72; (4,620.26)
Street and bridge:
Salaries and wages 137,631.00 136,446.28 (1,184.72)
Supplies 7,037.00 7,325.10 288.10
Maintenance 84,535.00 92,794.14 81259.14
Services 37,868.00 37,549.86 (318.14)
Capital outlay - land 1,500.00 1,277.45 (222.55)
7}
' Capital outlay - plant and equipment 15,020.~ 411,187.63 (3,812.3
283,571`,+0 ` 286,580.46 3,009.46
Parke - administration and parka:
Salaries and wages 83,107.00 89,093.11 5,986.17
Supplies 14,095.x10 13,617.87 (487.13)
Maintenance 5,895.0() 11,220.48 5,325.48
Services 18,567.00 28,205.75 9,638.75
Capital outlay - land 3,900.00 5,972.52 2,172.52
Capital outlay - plant and equipment 21450.00 _2,1_35.47 _ (_314.53)
127,914.00 150,2'15.'2.6 22,321.26
4 Schedule 2, (;on t.
CITY OF DENTON, TEXAS
Ganeral Fund '
Schedule of Expenditures and Encumbrances '
(and Comparison with Budget), Continued
Actual
r
Budget over (under)
_reviseA) Actual budKet '
Parks - swiruning:
Salaries and wages $ 10,978.00 12,166.00 11188.00
Supplies 2,650.00 1,284.29 (1,365.71)
yti 2,400.00 1,910.34 (489.66)
Maintenance ,
Services 1,700.00 2,350.29 650.29
Sundry (awards) 200.00 435.70 235.70
Capital outlay 10500.00 605.14 (894.86)
19,428.00 _ 189751.76 _(676.24)
Paiks - recreation:
Salaries and wages 39,752.00 38,681.97 (19070.03)
Supplies 49770.00 31685.97 (13084.03)
Maintenance 1,000.00 1,830.83 830.83
Services 80572.00 11,389.20 2,817.20
Capital outlay - land 3,600.00 2,292.20 (1,307.80)
Capital outlay - plant and equipment 5,120.00 39376.08 (1,743.92) O
62,814.00 61,256.25 (1,557.75)
Cemetery:
Salaries and wages 13,716.00 14,889.84 1,173.84
Maintenance 430.00 465.70 35.70
Services 233.00 368.03 635.03
Capital outlay 3.000.00 7,319.01 4,319.01 ,
17,379.00 23^542.58 6,163.58
Library: '
Salaries and wages 26,896.(0 27,073.56 177.56
Supplies 8,599.00 99511.63 912.63
Maintenance 1,650.)0 1,644.76 (5.24)
Services 2,852.00 5,804.93 2,952.93
Capital outlay - land 26.00 300.55 274.55
Capital outlay - plant and equipment 1,118.00 2,224.13 1,106.13
'
41,141.00 46,559.56 5,418.56
Nondepartmental expenditures:
Insurance 15,000.00 12,994.56 (2,005.44)
Equity in 1039 of Working Capital
Fund - 1,116.79 1,116.79
Other 5,367.00 1,567.30 (3,799,70)
City-County Health Unit 5,000.00 10,853.81 5,853.81
25,367.00 269532.46 1,165.46
Continued '
5 Schedule 2. Cont.
1
CITY OF DENTON, TEXAS
1 General Fund
1 Schedule of Expenditures and Encumbrances
(and Comparison with Budget), Continued
Actual
Budget over (under)
1 revised Actual budKet
Transfers to other funds cor special
projects
y, Parks and Airport Fund $ 4,027.00 4,027.27 .27
Library Building Bond Fund 659.00 658.94 (.06)
4,686.00 4,686.21 .21
Total expenditures and
encumbrances $ 2,4291242.00 2,474,933.90 459691.90
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111111
CITY OF DEN TON, TEXAS Schedule 3
'
Electric Systrm Fund '
Schedule of Expenditures (and Comparison with Iul;;ri)
Year ended Se2ember 30, 1969 t
Actual '
(budget over (under)
(revised) F.x end1.1ures budget
Electric production: 1
Salaries and wages $ 270,816.00 267,190.86 (3,625.14)
Supplies 39,033.00 33,142.97 (5,890.03)
Fuel for electricity production 728,732.00 744,559.37 15,827.37 '
Maintenance 56,016.00 32,396.22 (23,619.78)
S^rvices 22,133.00 3,696.90 (18043u.10)
Capital outlay 22,485.00 18,086.25 (4,398.75)
1,1391215.00 1,09SL072.57 (40,142.43) '
Electric distribution and metering:
Salaries and wages 243,405.00 250,345.69 1,940.69
Supplies 7,298.00 17,553.26 10,255.26 '
Maintenance 42,751.00 37,189.00 (5,562.00)
Services 40,443.00 38,780.74 (10662.26)
Sundry 38.00 195.99 157.99 '
Capital outlay 1971324.00 290,dB3.19 93,559.19
536,259.00 634,947.87 98,688.87
i'ro rata share of utility '
administration expense:
Salaries and wages 40,752.00 40,534.46 (217.54)
Supplies 1,964.00 1,558.33 (405.61) '
Maintenance 1,040.00 931.83 (108.17)
Services 17,002.67 13,915.51 (3,087.16'1
Sundry 2,666.33 - (2,666.33) '
Economic development 26,666.67 22,002.70 (4,663.97)
Capital outlay _ 31917.33 20702,79 (11214.54)
_94,009.00 81,645.62 (12,363.39)
Nondepartmental expenditures:
Transfers to Ceneral Fund
administrative services 20B,754.00 208,754.00
Insurance 54,686.00 56,149.20 1,363.20 '
Equity in loss of Working Capital
rand - 38,865.67 381865,67
Provision for uncollect£ble accounts 13,427.70 13,4_27.70
26'1,440.00 _ 317,096.57 53,655.57
Total expenditures 29032.923.00 2,132,762.63 991839.63
Deduct capital expenditures 314,308.49 402,254.39 87,945.90
Expenditures charged against
operating revenues $ 1,718o614.51 19730,508.34 1!,893.73 ,
G
Schedule 4
1 CITY OF DENrON, 7FnAS
1 Water and Sewer System Fund
Schedule of ExpenditLIreS
1 (and Compariqon with Budget
Year ended Se2tember 30, I969
Actual
' Sudi;rt over (under)
reviucd Actual budget
Water production:
Salaries and wages $ 56,735..0 57,156.45 421.45
Supplies 51,612.00 51,197.23 (414.77)
' Production power 42,000.00 48,534.55 6,534.55
Maintenance 70060.00 49381.16 (2,678.84)
Services 20,937.00 59053.21 (15,883.79)
Capital outlay - 134.98 134.98
' 178,344.00 1669457.58 (11,886.42)
Water distribution and metering:
Salaries and wages 95,004.00 969071.50 11067.50
Supplies 6,757.00 51590.53 (1,166.47)
Maintenance 44,718.00 28,243.61 (16,474.39)
t Services 21,241.00 21,134.06 (106.94)
Sundry 577.75 577.75
Capital outlay 107,266.00 1470812.37 40,546.37
' 274,986.00 299,429.82 24,443.82
Sewage treatment and disposal:
Salaries and wages 50,196.00 49,421.67 (774.13)
' Supplies 2,696.00 5,106.93 2,410.93
Production power 7,641.60 109577.92 2,936.92
Maintenance 21926.00 2,550.46 (375.54)
Services 1,51U.00 1,253.90 (256.10)
O Capital outlay 10648.00 430.23 _(11217.77)
66,6.7.00 69,341.11 2,724.11
Sewags collection:
Salaries itnd wages 77,676.00 790768.13 2,090.13
Supplies 5,346.00 69325.66 979.66
Maintenance 119908.00 10,173.41 (19734.59)
O Services 24,098.00 25,452.58 11354.58
Sundry 1,935.40 1,935.40
Capital outlay 34,374.00 18,660.84 (15,713.16)
153,404.00 142,316.02 (11,087.98)
Continued
2 Schedule 4, Cont. '
CITY OF DENTO N, TEXAS
Water and Sewer System Fund
Schedule of E.<pendltures '
(,and Comparison with Budget), Continued
Actual '
Budget over (under)
_c t
_Crevised Actual budge
Pro rata share of utility administration
expenses: $ 20,376.00 20,267.23 (108.77)
Salaries and wages 982.00 779.14 (202.86)
Supplies 540,00 465.90 (54.10)
Maintenance 8$01.33 110957.76 (1,543.57) '
Services 10333.67 - (1,333.67)
Sundry 13,333.33 4,574.87 (31758.46)
Economic development 1,958.67 1,226.37 (732.30)
Capital outlay - ,
47,005.00 39,271.27 (7,733.73)
Nondepartmental expenditures, '
Transfers to General Fund - 69,584.00 6ri,584.00
administrative services 61000.00 5,952.69 (47.31)
Insurance '
Equity in loss of Working Capital - 36,509.71 36,509.71
Fund _ 0,458.88 6,458.88
Bond issuance expense 7,151.53 7x- 151.53 t
Provision for uncollectible accounts - - -
75,584.00 125,656.81 50,072,81
Total expenditures 795,940.00 842,472.61 46,532.61
Deduct cepital expenditures 175,212.88 198,231.00 23,018:12
Expenditures charged against
operating revenues $ 620 7271? 644y24_1~61 23,514._49 '
v
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Schedule 5
CITY OF DENTON, TEXAS
' Schedule of changes in General Fixed Assets - by Sources
Year ended Se_Rtember 30, 1969
Improvehnents
other than
' Total i.and Buildings buildinKs
Balance, Septcsnber 30, 196q $ 6,789,551.75 1,1690267.16 1,625,564.27 3,9949720.32
Add:
Expenditures from Capital
Projects Funds 11001,867.55 979502.04 20,787.18 883,578.3
Fxpenditures from General
Fund, net of $17,992.05
expenditures for capital
assets transferred to the - -
Motor Pool Fund 619851.43 18,161.73 2,562'99 419126.71
1,296.99
Gifts 1006-' 871 115o663.77 231350.17 926~r 3
Balance, September 30, 1969 $ 7,854 19284,930.93 19648,914.44 4,920.722.25
1
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Scheme 6 t
CITY OF DENTOH, TEXAS e
Schedule of ghncgions~taC~~nctivitie5
Fixed Assets - by '
yoar ended Se2.!-emher 30, 1969
BaIancc '
Balance September 30,
September 30, 1969 t
1968 Add itl n}
General government: 2,316-11 7,647.99
Staff agencies: 5,302.88 4~ 13,043.35
Administrative offices and boards $ 101470.25 2,573.10 9,018.86
Finance 79106.99 1.911.87
20,045.56
Legal 17,5Bb.05 21457.51
Engineering G:9.04 1,5475770.20
General government buildings, 1,524,321.16 2:3,
71160.23 19476.77 8j637.00
land and other
utility accounting 34"`-,213.40 1,606,162.96
overnment 1, 571`49.56
Total general g
1
Public safety: 10,592.18 61894.94 17,487.12
4,513.41 152,372'79
Police protection 147,859.38 48,494.31
Fire protection 45,971.39 21522.92 '
218,354.22
Civil defense and safety 2049422.95 13,931.27
Total public safety
955,576.32 4,952.544.01 '
3,996,967.69 161.55 549647.01
Streets and highways 54,485.46
695.50 151,167.85
Sanitation and waste removal 150,472.35 301,726.88
Health and hospitals 262,989.47 38,737.+1
319,268.95 21,700.42 340,969.37
libraries 428,995.32
Parks and recreation 228,995.32
Airport $ 6,789,551.75 1`X015_87 7 851++567.62
1
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i
Schedule 7
' CITY OF LENTO, TEXAS
' Schedule of General Fixed
Assets - by Functions and Activilios
September 30, 1969
Improvements
other than
Total Land 11 uiIdings buildings
1 GeneraL government:
Staff agencies:
' Administrative offices - 131 7,510.49
and boards $ 7,647.99 .50
Finance 13,043.35 13,043.35
Legal 9,'318.86 - - 9,018.86
' Engineering 20,045.56 - - 20,045.56
General government
buildings, land and
' other 1,547,710.20 - 5240883.00 9930629.66 29,257.54
Utility accounting 8,637.00 8,637.00
Total general 512.80
' government 11606,162.96 _ 525,020.50 _ 993,629.66 87,
Public safety: 16,624.62
police protection 172487.12 862'511
152,372.79 1?,849.00 78,136.00 54,387.79
Fire protection
Civil defense and safety 48,494.31 11:535.00 22,565.54 149393.77
Total public safety 2189354.22 32,246.50 100,701.54 850406.18
Streets and highways 4,952,544.01 545,300.65 355.85 4,4069887.51
Sanitation and waste removal 549647.01 18,479.00 150,000.00 36110,01
Health and hospitals 151,167.85
Libraries 301,726.88 300.55 268,668.86 32,757.47
Parks and recreation 340,969.37 989583.73 8,704.21 233,681.43
Airport 228,995.32 65,000.00 126,854.32 37,141.00
$ 7,854,567.62 1,284,)30.93 11648.914.44 4 920,722.25
1
1
1
Mg M
CITY OF DE24TON, TE}{AS '
Schedule of Long-term Debt '
Septeinhe-r30, 1969
Interest
Rntes Payable '
General Obligation Bonds and Warrants:
1948 Street Improvement Bonds 3.25`/, 3-1; 9-1
1960 Street Improvement Bonds 3.5 to 3.85% 1-15; 7-15 t
1962 Street Improvement Bonds 2.75 to 3.2% 3-15; 9-15
1963 Permanent Improvement Warrants 2.8 to 2.85% 4-15; 10-15
1963 General Obligation Bonds 2.5 to 3.25% 3-15; 9-15 '
1964 General Obligation Bonds 3 to 3.2% 1-15; 7-15
1964 Park Improvement Bonds 3 to 3,2% 1-15; 7-15
1966 Airport Improvement Warrants 4.5% 6-1; 12-1 '
1966 General Obligation Bonds 3.3 to 5% 1-15; 7-15
1967 General Obligation Bonds 4.25% 5-15; 11-15
1968 General Obligation Bonds 4 to 5% 2-1; 8-1
1969 General Obligation Bonds 4.6 to 6.5% 4-15; 10-15 '
Total General Obligation Bonds
and Warrants (Schedule 9)
Electric System Revenue Bonds: '
1954 Electric System 2.75 to 2.90/. 5-1; 11-1
1955 Electric System 2.75 to 2.9% 5-1; 11-1 '
1955-B Electric System 3X 5-1; 11-1
1961 Electric System 3.75 to 5.5% 5-1; 11-1
1965 Electric System .05 to 5% 5-1; 11-1 '
1968 Electric System 4 to 5% 5-1; 11-1
Total Electric System Revenue Bonds
(Schedule 10)
Water and Sewer System Revenue Bonds: '
1960 Water and Sewer System 4 to 4.25! 1-15; 7-15
1962 Water and Sewer System 3 to 3.45% 1-15; 7-15 '
1964 Water and Sewer System 3 to 3.4% 1-15; 7-15
1966 Water and Sewer System 3.3 to 4.5% 1-15; 7-15
1969 Water and Sewer System 4 to 6.5% 1-15; 7-15 '
Total Water and Sewer System Revenue
Bonds (Schedule 11)
1
Note: '
(1) Bonds maturing within one year; varying amounts mature serially thereafter.
Schedule 8
1
0
Final Annual
Issno maturity principal Prods and Warrants -
' date date payments issued kotircd Outstanding
3- 1-48 3- 1-71 $ 50,000.00 $ 150,000.60 50,000.00 100,')00.00
O 7-15-60 7-15-85 25,000.00 6000000.00 200,000.00 400,000.00
3-15-62 3-15-87 20,000.00 500,007.;v 140,000.00 360,000.00
4-15-63 4-15-76 25,000.00 (1) 30500 0.ui 65,000.00 240,000.00
' 3-15-63 3-15-88 20,000.00 500,000.00 120,000.00 380,000.00
7-15-64 7-15-82 25,000.00 (1) 800,000.00 70,000.00 730,000.00
7-15-64 7-15-82 109000.00 (1) 200,000.00 500000.00 150,000.00
12- 1-66 12- 1-81 6,000.00 (1) 113,500.00 500.00 113,000.00
1-15-66 1-15-86 25,000.00 (1) 11000,000.00 50,000.00 9509000.00
11-15-67 5-15••89 30,000.00 6009000.00 6009000.00
2- 1-68 2- 1-88 50,000.00 (1) 1,0000000.00 25,000.00 975,000.00
4-15-69 4-15-89 60,000.00 (1) 1,285,000.00 - 1,2859000.00
$ 7,053,500.00 _770,500_00 F,, 283000.00
11- 1-54 11- 1-84 i40,000.00 (1) 4,287,000.00 1,502,000.00 2,785,000.00
' 5- 1-55 11- 1-85 43,000.00 (1) 1,350,000.00 463,000.00 887,000.00
11- 1-55 11- 1-85 42,000.00 (1) 1,387,000.00 461,000.00 926,000.00
1- . ~1 11- 1-90 75,000.00 (1) 5,200,000.00 300,000.00 4,970,000.00
' 1- 1-65 11- 1-84 250,000.00 (1) 4,0000000.00 1,000,000.00 3,000,000.00
2- 1-68 11- 1-88 501000.00 1,0000000.00 1,000,000.00
$ 17,2241000.00 311261000.00 13 498,000.00
7-15-60 7-15-90 45,000.00 (1) 1,700,000.00 205,000.00 195,000.00
1-15-62 7-15-90 30,000.00 (1) 1,000,000.06 155,000.00 2/+5,00/l.()0
7-15-64 7-15-84 15,000.00 (1) 2509000.00 75,000.LJ0 175,000.00
1-15-66 7-15-86 50,000.00 10000,000.00 150,000.00 858,000.00
' 4-15-69 7-15-89 20,000.00 (1) 1,060,000.00 - 1,()60,000.00
$ 52010,000.00 585,000.00 4,425,000.00
Schedule 9
CITY OF DENTON, TEXAS
Schedule of General Obligation
$und and Warrant and Interest Requirements
Scptetrber 30, 1969 '
1
Year ending
September 30, Principal Interest Total
1970 $ 346,000.00 245,132.50 591,132.50 '
1971 351,000.00 2300636.50 581,636.50
1972 378,000.00 216,107.56 '94,107.:6
1973 383,000.00 200,730.00 5839730.00 '
1974 3889000.00 1859380.00 573,380.00
1975 389,000.00 171,198.80 560,198.80
1976 389,000.00 157,220.00 5469220.00 '
1977 350,000.00 143,092.56 493,092.56
1978 350,000.00 130,060.06 480,060.06
1979 350,000.00 116,960.06 466,960.06
1980 3469000.00 103,707.56 449,707.56 '
1981 352,000.00 90,462.56 4429462.56
1982 3519000.00 77,005.06 428,005.06
1983 275,000.00 63,452.50 338,452.50 '
1984 275,000.00 52,205.00 327,205.00
1985 275,000.00 40,957.50 315,937.50
1986 250,000.00 299600.00 279,600.00
1987 190,000.00 20,270.00 210,270.00
1988 1950000.00 11,767.50 206,767.50
1989 100,000.00 49915.00 1049915.00
$ 6,2831000.00 2,290s840.72 8,573,840.72
1
all
Schedule 10
1
CITY OF DENTON, TEXAS
' Schedule of Electric System Hevrnli4,
Bond and Interest Requirements
September 30, 1969
' Year ending
September 30, Principal Interest Total
1974 $ 600,000.00 457,324.75 1,057,324.75
1971 613,000.00 431,555.50 1,044,555.50
1972 595,000.00 407,086.25 1,002,086.25
1973 5579000.00 386,583.00 943,583.00
1974 5690000.0,0 368,314.50 937,314.50
1975 576,000.00 349,868.25 925,868.25
1976 5900000.00 331,352.25 921,352.25
1977 602,000.00 311,672.75 914,672.75
1978 6140000.00 293,585.25 907,565.25
1979 628,000.00 2739969.75 901,969.75
1980 640,000.00 253,703.00 893,703.00
1981 654,000.00 232,867.75 886,867.75
1982 6669000.00 211,514.60 8779514.00
1 198'.)' 680,000.00 1899704.25 869,704.25
1984 694,000.0r 167,506.50 861,506.50
1985 713,000.00 147,492.00 860,492.00
1986 547,000.00 1281574.50 6759574.50
' 1987 565,000.00 107,330.00 672,330.00
1988 590,000.00 81,,300.00 674,300.00
1989 610,000.00 60,100.00 670,100.00
1990 585,000.00 36,100.00 621,100:00
1991 6100000.00 12,200.00 622,200.00
$ 13,498,000.00 51243,704.25 182741,704.25
e
w
t
Schedule 11
CITY OF DENTON, TEXAS
Schedule of Water and Sewer System '
Revenue Bond and Interest Requirements
September 30, 1969 '
Year ending t
September 30, Principal Interest Total
1970 $ 160,000.00 194,662.50 354,662.50 '
1971 185,000.00 173,550.00 358,550.00
1972 195,000.00 165,475.00 360,475.00
1973 195,000.00 157,225.00 352,225.00 '
1974 200,000.00 148,975.00 3480975.00
1975 205,000.00 140,525.00 3459525.00
1976 215,000.00 132,165.00 3479165.00 '
1977 215,000.00 123,557.50 338,557.50
1976 2209000.00 114,900.00 334,900.00
1979 2259000.00 106,042.50 331,042.50
191,30 230,000.00 97,017.50 32%9017.50
1981 230,000.00 87,782.50 317,782.50
1982 240,000.00 78,497.50 3189497.50
1983 2409000.00 68,845.00 308,845.00 '
1984 245,000.00 59,187.50 3049187.50
1985 230,000.00 49,330.00 279,330.00
1986 235,000.00 40,050.00 275,050.00 '
1987 195,000.00 30,545.00 225,545.00
1988 200,000.00 22,395.00 222,395.00
1989 205,000.00 139995.00 2189995.00
1990 160,000.00 6,097.50 166,097.50 '
$ 4,425,000.00 2,010,820.00 6,435.820.00
t
Schedule 12
' CITY OF DENTON, TEXAS
Scl.edulc of Bonds Authorized and Unissued
September 30, 1969
Electric Water
General System and Sewer
Obligation Revenue System Revenue
' Bonds authorized $ 8,053,500.00 31,224,000.00 5,0109000.00
Bonds issued (Sched;'Le B) 7,053,500.00 17,224,000.00 5,010,000.00
' Bonds authorized and unissued $ 11000,000.00 14,0000000.00 -
1
Note - Bonds authorized and unissued for the Electric System may be Issued for the
extension and improvement of the system. General Obligation Bonds
authorized and unissued may be issued for street improvements.
Schedule 13
CITY OF DENTON, TEXAS
Schedule of Revenue Bond Debt Coverage t
Year ended September 30, 1969 '
i
Electric System Fund i
available for debt service $ 21270,764.82
System income
Average annual debt service requirements $ 885,948.64 '
Debt service coverage 2.55
Water and Sewer System Fund
System income available for debt service $ 563,057.77
Average annual debt service requirements $ 309,533.47 i
Debt service coverage 1.82
i
i
i
' Schedulr 14
CITY OF DENTON, TEXAS
Schedule of Investments
' September 30, 1969
' Interest Maturity
rate date Amount
General Fund
Time certificates of deposit:
Dr-ntcn Federal Savings and Loan A3sOCIation 5-1/4% - (1) $ 10,000.00
Nortt Texas Savings and Loan Association 5-1114 - (1) 10,000.00
$ 20,000.00
t Debt Service Fund
Open time deposit - First State Rank of Denton 4% 12- 9-69 $ 10,000.00
Special Assessment and Capital Project Funds
P Street Improvement
Open time deposit - Fist State Bank of
Denton -47~ 11-15-69 $ 1,~60.OQ0.00
Fire Station
' Open time deposit - First State Sank of
Denton 47, 12- 9-69 $ 12,985.00
Park and Recreation
Savings Accounts:
Denton Federal Savings n nd Loan -
Association 4-3/4% $ 17,000.00
North Texas Savings and Loan Association 4-3/4 10,000.00
27,000.00
Electric System Fund
' System Fund
Time certificates of deposit:
' Denton Federal Savings and Loan -
Association 5-1/4% (1) $ 100000.00
North Texas Savings and Loan Association 5-1/4 - (1) 100000,00
$ 20,000,00
Continued
1
2 Schedule 14, Cont.
CITY OF DENTON, TEYAS
Schedule of Investments, Continued 1
Interest Maturity '
rate date Amount
Electric System Fund, Continued
Revenue Bond Debt Service
Time certificates ,f deposit:
Denton Federal Savings and Loan '
Association 5-1/4% - (1) $ 10,000.00
North Texas Savings and Loan Association 5-1/4 - (1) 10,00().00
Open time deposits - First State Bank of
Denton 4 9-30-69 715,500.00
$ 735,500.00
Revenue Bond Reserve '
Time certificates of deposit:
Denton Federal Savings and Loan '
Association 5-1/4% - (1) $ 10,000.00
North Texas Savings and Loan Association 5-1/4 - (1) 100000.00
Open time deposits - First State Bank 1
of Denton 6-1/4 12-31.69 913,700.00
Open time deposit - First State bank
of Denton 4 10-30-69 3,300.00
U. S. Government Obligations: '
U. S. Treasury Notes (market value -
$16,992.00) 5 11-15-70 79,988.00
U. S. Treasury Bonds (market value - t
$38,790.00) 4-1/8 11-15-73 44,858.13
$ 1,061,846.1_3
R_evcnu a Bond Construction
Open time deposit - First State Bank - - '
of Denton 4% 12-10-69 $ 295,000.00
Water and Sewer System Fund ,
System Fund
Time certificates of deposit: '
Denton Federal Savings and Loan
Association 5-1/4% - (1) $ 10,000.00
North Texas Savings and Loan Association 5-1/4 - (1) 100000.00 '
$ 20,000.00
Continued e
e
3 Schedule 14, Cont.
1
CITY OF DENTON, TEXAS
e Schedule of Investments, Continu(.4
e Interest Futurity
rate date Amount
e Water and Sewer System Fund, Continl,od
e Revenue Bond Debt Service
Open time deposits - First State Bank
of Denton 4% 12- 9-69 $ 88,900.00
e Revenue Bond Reserve
' Time certificates of deposit:
Denton Federal Savings and Loan
Association 5-1/4% - (1) $ 100000.00
e North Texas Savings and Loan Association 5-1/4 - (1) 10,000.00
Open time deposits:
First State Bank of Denton 6.25 12-31-69 225,400.00
e First State Bank of Denton 4 _ 12- 9-69 104,600.00
$ 350,000.00
Revenue Bond Construction
Open time deposit - First State Bank
of Denton 4%%_ 11-15-69 $ 550,000.00
e K)tor Pool Fund
e Time certificates of deposit:
Denton Federal Savings and Loan Association 5-1/4% (1) $ 109000.00
North Texas Savings and Loan Association 5-1/4 - (1) 109000.00
e Open time deposit - First State Bank of Denton 4 12- 9• i9 - 100,000.00
$ 120,000.00
e
1
Note:
' (1) Time certificates of deposit are automatically renewed for six-month periods
until cancelled.
e
CITY OF DENTON, TEXAS
Schedule of Insurance in Force '
September 30, 1969
1
Insurance comnany Policy Expiration
number date '
Twin City F're Insurance Company 46PS3005395
10- 1-71
Contlnentsl Insurance Company P6006359
IO- 1-70 '
Commercial Insurance Company F6531844
10- 1-70
Commercial Insurance Company F6006360 '
10- 1-70
Gulf Insurance Company GA5407080 '
9-10-70
Firemen's Insurance Company SP6097530 r
Gulf Insurance Company 11- 1-69
SCP5154072 12-18-69 ,
Fidelity and Casualty Company of New York PG5938231
Fidelity and Casualty Company 1-23-72 '
of New York PG2728466 2-24-70
Fidelity and Casualty Company of New York
Iri11438414 9.20.70 '
The Home Insurance Company
N326311 IO- 1-64
The }come
Indemnity Company MB513727
Continuous '
r
F(hedule 15
1
' coverage Amount or Limit
General boiler and machinery $ 5,000,000.00
1 Fite and extended coverage o:: itility systems, $ 123400,000.00
buildings and contents 907. coinsurance
Fire and exto,.ndcd cove ige on library building, $ 100430468.00
city hall and contents 80% coinsurance
Fire and extended coverage on buildings and $ 1,623,500.00
contents not otherwise covered 90% coinsurance
Public liability:
General:
' Bodily injury $ 100/3009000.00
Property damage 500000.00
Automobile:
Bodily injury 10/3000000.00
Property damage 500000.00
Utility accounts receivable - destruction of records $ 403,976.00
Robbery :
Enside premises $ 20000.^0
Outside premises 1,665.00
' Wiprehensive glass policy - library Total lass
Comprehensive glass policy - city hall Total loss
' Sound equipment at civic center $ 10,241.60
Faithful performance bond:
' City Mtnager $ 72,500.00
Director of Finance 72,500.00
Each employee 2,500.00
' Faithful perfonnance bond - Tax Assessor/Collector 1(1,000.00
1
I
1
CITY OF DENTON, TEXAS '
Assessed Value and F.stimatA,
True Value of All Taxable Props-,/
Ten yeors ended September 30, 1969 '
1
1
Reai property
Year ended Tax Assessed Estimated '
September 30, roll year value true value
1960 1959 $ 23,544,524
67,270,069 ,
1961 1960 26,193,240 64,781,035
1962 1961 29,536,418 73,841,045
1963 1962 3:.,167,638 80,4199095
1964 1963 36,105,470 90,263,675 '
1965 1964 39,713,490 99,283,725
1966 1965 42,978,610 107,446,525
1967 1966 47,403,190 118,107,975 '
1968 1967 49,167,720 123,419,300
1969 1968 52,065360 13,163t400 '
1
1
Table I
1
Ratio
' of total
assessed
Personal property Total value to
e Assessed Fstimated Assessed Estlmited estimated
value true value value trLc value true value
t 6,021,973 17,205,613 29,566,497 84,475,692 35%
699730065 16,716,993 33,1669305 81,4989028 41
t 7,238,756 18,0960890 36,775,174 91,937,935 40
7,779,232 19,448,080 39,946,870 99,867,175 40
79230,770 18,076,925 43,336,240 108,340,600 40
' 81836,110 22,0909275 48,5499600 121,374,000 40
9,494,495 23,736,237 52,473,105 111,182,762 40
' 11,255,685 28,139,212 58,6589875 146,647,187 40
12,222,198 30,5559495 61,589,918 153,974,795 40
' 14,934,931 37,337,327 67,000,291 167,500,727 40
1
1
1
1
CITY OF DENTON, TExAS
'Cax Rates and Tax Levies '
Tvn years ended Se tember 30, 1969
Tax Assessed valuations '
Year ended roll Real Personal
September 30, Year property pro{ierLy Total
1960 1959 $ 239544,524 6,021,973 29,566,497 '
1961 1960 26,193,240 6,9730065 33,166,305
1962 1961 29,536,418 7,238,756 36,775,174
1963 1962 32,167,638 7,779,232 39,946,870
1964 1963 369105,470 7.230,.1n 43,335,240
1965 1964 39,713,490 8,836,110 48,549,600 '
1966 1965 429978,610 9,494,495 52,473,105
1967 1966 47,403,190 11,255,685 58,658,875 '
1968 1967 49,367,720 121P222,198 61,589,918 '
1969 1968 52L065,3b0 142 934,931 67,000,291 Tax Rates '
The constitutional ai,d statutory tax rate limit, including debt service, is $2.50 on '
each $100.00 of assessed valuation.
Tax Due Dates and Penalties '
Taxes 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 before March 31. Penalties
due on delinquent taxes accrue; February 2%, March 5%, April 6%, liay 7%. Interest
on delinquent taxes, in additional to penalties, accrues at the rate at 1/2% per month,
No discount is allowed for early payment. '
Table II
Taxes levied for
1 Tax Total General Fund Sinking Fund
ratit tax levy Rate Amount Rate Amount
1 1.51) 443,497 1,27 375,494 .23 68,003
1.51) 497,494 1.14 378,096 .36 119,398
' 1.50 551,628 1.06 389,817 .44 161,811
t 1.50 599,203 1.075 429,429 .425 169,774
1.50 650,044 1.178 510,501 .322 139,543
' 1.50 728,244 1.03 500,061 .47 228,183
1.50 787,096 1.055 553,591 .445 233,505
' 1150 879,883 .9825 576,323 .5175 303,560
1.50 923,849 .9525 586,644 .5475 337,205
' 1.50 1,005,004 .8145 545,717 .6855 459,287
1
1
1
1
r
r
CITY OF DE149N, TFAAS
Tax Levies and Tax Collections '
Ten years ended September 30, 1969
r
1
Collection of
Year ended Total tax current year's Percentage of levy
September 30, levy taxes during year collected during year '
1960 $ 4430497 415,595 93.71%
1961 480,450* 462,634 96.29 '
1962 549,807* 501,956 xl.30 r
1963 598,710* 545,358 91.09
1964 6489283* 608,596 93.88 r
1965 722,718* 683,137 94.52
1966 785,322* 732,325 93.25 '
1967 877,537* 811,554 92.57
1968 923,849* 873,030 94.49 r
'
1969 1,005,o04* 930,679 92.60
1
1
1
1
*Total tax levy figures for 1961-1969 are adjusted to include debit and credit memos '
and their effects. Statistics are unavailable for 1960.
1
1
Table III
1
1
1
Ratio of
1 Collection Ratio accumulated
of prior of total Accumulated delinquent
years' taxes Total collections deling,w nt taxes to current
1 during; year collections to tax leyy taxes ey er'a tax levy
$ 13,951 429,546 96.85% $ 99,400 22.41°/
1 37,774 500,408 104.15 96,486 20.08
209320 522,276 94.99 117,989 21.46
22,666 568,024 94.87 149,168 24.91
1 43,806 6520402 100.64 146,952 22.67
42,529 7259666 100.41 137,077 18.97
23,849 756,174 96.28 165,702 2L.10
38,566 850,120 96.86 186,797 21.29
1 31,915 904,945 97.95 194,600 21.06
1 41,130 971,809 96.70 211,415 21.04
1
1
1
I~
Table IV
CITY OF DF NTON, TEXAS
R.ilto of Net General Bonded Debt to '
Assessed Value and Net Bonded Debt per Capita
Ten years ended Septcmber 30, 1969 '
Less Net
debt bonded debt
Estimated Gross servico- Net Ratio to
Year ended pop- Assessed bonded net bonded assessed Per
September 30, ulation valuation debt assets debt valuation capita
1960 269844 $ 29,566,492 1,236,009 35,807 1,200;193 4.06% $ 44.71
1961 28,000 32,599,211 1,152,000 40,852 1,111,148 3.41 39.68
1962 28,240 36,775,174 1,5669000 61,721 10504,279 4.09 53.27
1963 30,117 39,946,870 2,263,000 84,362 2,1789638 5.45 72.33
1964 32,082 43,3361240 3,133,000 26,211 3,106,789 7.17 96.84
1965 32,988 48,549,600 2,999,000 - 2,999,000 C.18 90.91
1966 36,000 52,473,105 31847,000 (2,633) 3,849,633 7.34 106.93
19A7 38,500 58,658,875 3,807,500 (1,753) 3,809,253 6.49 98.94
1968 39,000 61,589,918 5,218,500 5,057 5,213,443 8.46 133.68
1969 43,551 67,000,291 6,283,000 25,531 6,257,469 9.34 143.68
II
1
' Table V
CITY OF DENTON, TEXAS
Schedule of Debt Margin
September 30, 1969
$ 71,076,036
Assessed valuation, October 1, 1969
$ 7,107,604
Debt limit - 10°/° of assessed values (note)
6,257,469
Net boned debt (exclusive of Revenue Bonds)
Debt margin $ 850,135
1
t
t
1
' Note - A e City of Denton, Texas has no legal debt limit under Texas law. However,
10% is generally accepted as a safe margin.
Table Vi
' CITY OF DENIUN, TEXAS
P1itie~'ll.uu.nu; Stolli"li('al 9)1In
Sept(0cr__311, 1969
Area ut City 22.76 square miles
Seplemher 26, 1866
Uatc of incorporation Council - manager
form of government
7btal City employes (Including , 36
seasonal employees)
1965 196F, 1968 1969
t Estimated population 32,998 36,000 38,500 39,001 43,551
Tax rate - per $100
valuation $ 1.50 1.50 1.50 1.50 1.50
Assessed valuation $ 52,4'13,105 58,658,875 61,589,%18 67) 000,291 71,076,036
Electric production
(MI) 159,610,820 158,346,800 217,275,500 239,672,011 273,621,251
Electric customers 9,958 10,586 10,750 10,950 11,050
Water production
(1,000 gallons) 1,489,010 1,5070456 1,717,276 1,704,250 10939,516
Water customers 9,317 9,602 9,750 9,950 10.050
General Fund revenues $ 1.390,366 1,504,474 2,021,888 11174,935 2,655,172
General Fund
expenditures and
' encumbrances $ 11244,503 1,664,849 21054,173 2,034,625 2,414,934
1
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