HomeMy WebLinkAbout1977-78 Tt"
~7~ 'j, VT r li
sy!
9 ~y
D E74T
OF
CITY
ANNUAL
J
REPORT
J
"8
19 77""191
1
s
•
•
FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION
•
CITY OF DENTON, TEXAS
September 30, 1978
•
•
•
•
•
r CONTENTS
Page
LETTER CF TRANSMITTAL 5
•
FINANCIAL STATEMENTS AND AUDITORS' REPORT
AUDITORS' REPORT 11
SUPPL EMEN't'AL INFORMATION
COMBINED BALANCE SHEET - ALL FUNDS 14
GENERAL FUND
FINANCIAL STATEMENTS - SEPTEMBER 30, 1978 and 197 18
• BALANCE SHEET
STATE'IENT OF REVENUES AND TRANSFERS, 19
EXPENDITURES AND ENCU118RANCES 20
STATEMENT OF CHANGES IN FUND BALANCE
SUPPLEMENTAL INFORMATION
STATEMENT OF BUDGETED AND ACTUAL REVENUES 21
• AND TRANSFERS
STATEMENT OF APPROPRIATIONS AND EXPENDITURES 24
AND ENCUMBRANCES
SPECIAL REVENUE FUNDS
FINANCIAL STATEMENTS - SEPTEMBER 30, 1976 32
• BALANCE SHEETS 34
STATEMENTS OF CHANGES IN FUND BALANCE
SUPPLEMENTAL WORMATION
DETAIL OF MISC LLANEOUS SPECIAL REVENUE 36
FUND BALANCE
STATEMENT OF REVENUES AND TRANSFERS, EXPENDITURES
Q AND ENCUMBRANCES - FEDERAL REVcNUE SHARING FUND 37
GENERAL DEBT SERVICE FUND
FINANCIAL STATEMENTS - SEPTEMBER 30, 1978 and 1977 38
BALANCE SHEET
STATEMENT OF REVENUE, EXPENDITURES AND 39
• FUND BALANCE
CAPITAL PROJECTS FUNDS
FINANCIAL STATEMENTS - SEPIEMBER 30, 1978 40
BALANCE SHEETS 42
STATEMENTS OF CHANGES IN FUND BALANCE
d
•
FINANCIAL STATEMENTS (CONTINUED) Page
ENTERPRISE FUNDS
ELECTRIC SYSTEM FUND
FINANCIAL STATEMEIiTS -SEPTEMBER 30, 1918 and 1977 44
BALANCE SHEET 46
STATEMENT OF OPERATIONS 48
STATEMENT OF CHANGES IN SYSTEM EQUITY
STATEMENT OF CHANGES IN FINANCIAL POSITION 50
SUPPLEMENTAL INFORMATION 52
STATEMENT OF BUDGETED AND ACTUAL REVENUE
TATEMENT OF APPROPRIATIONS AND EXPENDITURES, 53
AND ERS
S ENCUMBRANCES
WATER AND SEWER SYSTEM FUND
FINANCIAL STATEMENTS - SEPTEMBER 30, 1978 and 1977 56
BALANCE SHEET 58
STATEmrNT OF OPERATIONS 60
STATEMI.NT OF CHANGES IN SYSTEM EQUITY 62
STATEMENT OF CHANGES IN FINANCIAL POSITION
SUPPLEMENTAL INFORMATION 64
STATEMENT OF BUDGETED AND ACTUAL REVENUE
65
r STATEMEN OF APPROPRIATIONS AND EXPEIrDITURES9
ECUMBRANCES AND
INTRAGOVERNMENTAL SERVICE FUNDS
FINANCIAL STATEMENTS - SEPTEMBER 30, 1978 68
BALANCE SHEETS 70
STATEMENTS OF OPERATIONS
JTATEMENTS OF CHANGES IN INVESTED CAPITAL AND 71
RETAINED EARNINGS
TRUST AND AGENCY FUND
FINANCIAL STATEMENT - SEPTEMBER 30, 1978 72
BALANCE SHEET
GENERAL DEBT
FINANCIAL STATEMENT - SEPTEMBER 30, 1978 and 1977 73
STATEMENT OF GENERAL DEBT
SUPPLEMENTAL INFORMATION 74
• STATEMENT OF CHANGES IN FUTURE REQUiREMEfiTS
GENERAL FIXED ASSE* S
FINANCIAL STAT WENT SEPTEMBER 30, 1978 15
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS
• NOTES TO FINANCIAL STAIEK:W S 76
•
•
•
Page
SUPPLEMENTAL INFORMATION
BONDS PAYABLE - ALL FUNDS 86
•
STATISTICAL DATA
ASSESSED VALUATION AND TAX ASSESSED 92
TAX ASSESSMENT AND COLLECTIONS 93
• INSURANCE IN FORCE 94
MISCELLANEOUS STATISTICAL DATA 98
•
•
•
•
•
0
•
•
•
•
LETTER OF TRANSMITTAL
•
•
•
•
•
• C1TY01DENTON, TEXAS MUNICIPAL BUILDING / DENTON, TEXAS 76201 / TELEPHONE (6171382-W1
• January 30, 1979
Mr. G. Chas Hartung
• City Manager
City of Denton
Denton, Texas
Dear Mr. Hartung:
• The annual Financial Report of the City of Denton, Texas for the fiscal year
ended September 30, 1978 is submitted herewith.
Accounting System and Reports
• The accrual basis of accounting is followed by all funds other than budgetary
funds (General, Special Revenue, Debt Service Funds and Capital Projects),
which utilize the modified accrual basis of accounting. The encumbrance method
of accounting is used for all funds for purposes of preparing and reporting on
the City's budget; for external reporting, the encumbrance method of account-
ing is not used in the Enterprise and Intragovernmental Service Funds.
• Budgetary control is maintained by an annual appropriation system and the
encumbrance of appropriated balances with purchase orders prior to their re-
lease to vendors. Purchase orders which exceed appropriation balances are not
released until additional appropriations are made available.
•
General Goyernmr,nt Functions
Revenues for general governmental functions totaled $7,902,748 in 1977-780 an
increase of 28.0 percent over 1976-77. General property taxes produced 24,3
percent of general revenues compared to 25.1 percent "last year, The amount
! of revenue from various sources and the increase over last year are shown in
the following tabulation:
•
•
5
•
Mr. G. Chris Harting
• Increase
Amount Percent Over 1976-77
Thousands of Total (Thousands)
Property Taxes erid Penalties $ 1,936 24,2 $ 384
Franchise and Other faxes 11769 22.2 367
• Licenses and Permits 93 1.2 36
Fines, Forfeits, and Penalties 325 4,1 22
Charges for Current Services 887 11.1 54
Utility Fund Contributions 1,193 14.9 338
Other Revenues $ 1, 779 22,3 ; 97
0
•
Assessed Valuations of $271.3 million represented an increase of 98.7 percent
over the preceding year.
• The ratio of total collections (current and delinquent) to the current tax
levy for 1977-78 was 95.21 percent.
The constitutional and statutory tax rate limit, including debt service, is
$2.50 on each $100.00 of assessed valuation. The tax rate distribution for
1977-70 and the preceding two fiscal years is as follows:
Purpose 1977-78 1976.77 1975-76
General Fund .7728 1.1233 .8160
Interest and Redemption F!md .4672 .6567 .8840
Total Tax Rate 1.2400 1.7800 1.7000
Expenditures fre general governmental purposes totaled $7,798,055, an increase
of 27.2 percent over 1976-77. Increases in levels of expenditures for mrjor
functions of the city over the preceding year are shown in the following, tab-
ulation:
Increase
Amount Percent Over 1976-77
Function Thousands of Total Thousa ds
O General Government $ 430 5.5 $ 114
Legal 139 1.8 8
Community Development 323 4.1 11
Civil Defense 41 .5 3
Personnel 49 .6 1
Finance 530 6.9 90
• Health b Sanitation 949 12.2 172
Data Processing 251 3.2 61
•
6
O
Mr. G. Chris Hartung
O
Increase
Amount Percent Over :976-77
Function-Continued Thousands of Total Thousands
Police $ 1,314 16.9 $ 174
Fire 19344 17.2 375
Street & Bridge 1,049 13.5 256
Parks & Recreation 666 8.5 171
Library 219 43
Traffic 105 1.4 8
Airport 20 .3 • City-County Health Unit 64 .8 {27?
Flow Memorial Hospital 211 2.7
Other 94 211
15)
1.2 $ M,19~ _10- T9
• Debt Administration
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 1977-78 fiscal year were as follows:
1977.78 Actual Valuation $ 452,232,048
1977-78 Assessed Valuation (60% of Actual) 271,339,229
Total General Obligation Debt $ 11,533,934
O Less: Amount Available in Debt Service 32 409
Net Debt -US3019525
Ratio Net Debt to Assessed Valuation 4.24%
1978 Estimated Population 51,500
Per Capita Assessed Valuation 5,269
• Per Capita Net Deot 223
During the past year $655,000 of tax bonds were retired.
Outstanding Electric Revenue Bonds at September 30, 1978 totaled $19,255,000,
• During the past year :1,044,000 of Electric Revenue Bonds were retired and
$16,902,000 were defeased by the issuance of advanced refunding bonds.
Outstanding Water & Sewer Revenue Bonds at September 309 1978 totaled $69230,000.
During the past year $355,000 of Water ai,d ewer Ri'venue Bonds were retired.
•
•
7
y
•
Mr. G. Chris Hartung
• The city's bonds are rated as follows:
Moody's Standard b Poor's
General Obligation Bonds A-1 A+
• Electric Revenue Bonds A A+
Water & Sewer Revenue Bonds A A
As of September 30, 1978, $2,573,493 was on hand it the Electric Reserve and
Contingency Funds and the sum of $551,590 was on hani in Vie 'ater & Sewer
• Reserve Fund These amounts exceed the requirements as specified in the bond
ordinances.
Cash temporarily idle during the year was invested in time deposits and sav-
ings accounts.
•
Capital Protects Funds
During the fiscal yeav ending September 30, 1978, water and sewer revenue bond
issues accounted for expenditures of $337,853 in water and sewer capital pro-
jects and electrical revenue bond issues accounted for expenditures of $399,879
• in electrical capital projects. Extensions and improvement funds in the amount
of $386,267 were expended for electrical capital projects.
Authorized but unissued bonds at September 309 1978 totaled $10,500,000 as
follows:
• General Obligation $ tO0,000
Revenue Electric) 310001,000
Revenue Water b Sewer) 79000,000
Capital project fund balances on hand at September 30, 1978 consisted of
• $1,557,849 in cas?•, and investments.
General Fixed Assets
The general fixed assets are those fixed assets used in the performance of
• general yvvernmental functions and exclude the fixed assets of utility and other
enterprise funds. As of September 301. 1978, the general fixed assets of the city
amounted to $23,258,582. This amount represents the original cost of the assets
and is considerably less than their present value. Depreciation of General fixed
assets is not recognized in the city's accounting system.
•
•
8
•
Mr. G, Chris Hartung
Utilities System
The city's electric system had a successful year and a Itinued to show gains
in gross sales. The Water G Sevier System had an increase in gross sales and
a net gain. Comparative data for the past two fiscal years are presented in
• the following tabulation:
Electric System 1918 _ 1_ 97_
Gross Income $ 18,9&09145
Net Income Before Transfer and $ 17,942,976
• Extraordinary Income 3,199,647 3,393,476
Income Available for Debt Service 5,3679616 5,269,660
Largest Annual Debt Service Requirements 1,922,815 1,841,252
Debt Service Coverage 2.79
2.86
0 Water R Sewer System L9 78 1971
Gross Income $ 39551,176
Net Income Before Transfer 692,908 f 2+512,185
Income /available for Debt Service 51945
Largest Annual Debt Service Requirements 1678,668 868,881
,87
• Debt Service Coverage 2.32 6801.98
The City Charter requires an annual audit to ha made of the books of account,
financial records, and transactions of all administrative departments of the
city by a Certified Public Accountant selected by the City Council. This
requirement has been complied with and the auditor's opinion has been in-
cluded in this report.
The preparation of this report on a timely basis could not be accomplished with-
out the efficient and dedicated services of the entire staff of the Finance
Department. I would like to express my appreciation to all members of the depart-
ment who assisted and contributed to its preparation. I would also like to thank
your office and members oil the City Council for their interest and support in
planning and conducting the financial operations of the city in a rosponsible and
progressive manner.
• /Respectfully submitted,
W~
W. H. McNary
Director of Finance
• WHMc/1c
•
9
e
•
•
•
4
FINANCIAL. STATEMENTS AND AUDITORS' P£PORT
•
•
•
•
•
•
Aiexender 9PBUt INTERNATIONAL PIR1A
•COYP4MY ALEXANDER GRANT TANSLEY WITT
CERTIFIED PUBLIC ACOPUNTAIITB
e
Honorable Mayor and City Council
City of Denton, Texas
• We have examined the financial statements of the various
funds and account groups of the City of Denton. Texas for the
year ended September 30, 1978 as llated in the foregoing table
of contents. We have also examined those financial statements
for the year ended September 30, 1977 listed in the table of
• contents. Our examinations were made in accordance witsuchh
accepted auditing standards and, accordingly, included tts
necessary din such other procedures as
of the
we considered accounting
The net carrying value of the electric system utility
• plant in service was increased to the appraised replacement
value, as determined by i henrecordingiof appraised values
September 30, 1987 (Note A) A). . T
in excess of cost and the charging of annual depreciationher
$283,159 of such excess value directly to System Equity.
to expense, is not in conformity with vgenerallyexceested
accounting principles. Had the appraisal
cost not been recorded, the Utility Plant in Service and System
Equity shown in the Electric System Fund would be reduced by
$1,736,780 and $2,019,909 at September 30, 1978 and 1977,
respectively.
Yn our opinion, except fos the effects on the financial
statements of the Electric
aph,the aforementionedheinmatter ancialdstatementsn
the preceding paragraph,
present fairly the financial position of various funds3and1978
account groups of the City Denton, Texas,
and at September 30, 1977 and the results of their operations and
• the changes in financial position of the Enterprise Funds for the
years then ended, La conformity with generally accepted accounting
principles applied on a consistent basis after reswetconcur, in
in the Enterprise Fund for the change, with which
the method of reporting transfers to the General Fund more fully
described in Note 8,
•
Our examinations were made primarily for
arag~'aphrpoThe
form!llating the opinion stated tinothe recedinoregoing table he
suppleme~:tal information as ,
contents, although not considered necessary for a fair presentation
•
11
O ONE MAIN PLACE DALLAS, TX 75260 (2K 74"IDO
NJ,
•
of financial position, results of operations or changes in
financial position is presented as supplemental information and
has been subjected to the audit procedures applied in the examina-
tion of the basic financial statements. In our opinion, the
supplemental information is fairly stated in all material respects
in relation to the basic financial statements taken as a whole.
The statistical data on pages 92 through 98 has been
summarized from City records by City employees and was not sub-
jected to the audit procedures applied in the examination of the
basic financial statements. Accordingly, we do not express an
opinion on such information.
Dallas, Texas
December 8, ?.978
i
•
•
•
•
•
• 12
•
•
•
THIS PAGE LEFT BLANK INTENTIONALLY
t
e
r
13
City of Denton, Texas
COMBINED BALANCE SHEET - ALL FUNDS
September 30, 1970 •
General
Special Debt Capital
General Revenue Service Projects
ASSETS Fund Funds Fund Funds
Cash $ - $ 55,646 $ - $ 403,831
Equity in pooled cash 448,783 2,140
Time deposits and
accrued interest - - 32,409 1,1549018
Receivables - net 529,434 129,295 - 394,070
Due from other funds 1949910 40,380 - 6219231
Inventories - - -
Prepaid expenses i -
Restricted assets - - - •
Property, plant and
equipment - net
Investment in other
funds
Amount of future require-
vents for retirement ~
of general debt - - -
Amount available for
debt service -
S 1,1739121 $ 2210461 $ 32,409 $ 2,573,150
•
•
•
•
•
14
•
•
Winter and Intra- Trust
Electric Sewer governmental and General
•
System System Service Agency General fixed
Fund Fund Funds Fund debt assets
S _ $ _ $ - 222,952 S - S
19428,342 - 292,818 - -
5,041,226 279561
3,897-9623 4,856 252 - - „ ;
13;349 457,350 150,998 - - -
973,485 - 4789443 - -
47,379 40827 570 - -
0 3,345,296 1,282,897 - - - <c
260496,972 11,7140103 11448,370 - - 23,496,426;
-1609,747 .'1081915 : ( _
11,529,0,6b , ,
4,80
411430,419 S 131573,008 2,398,9E',2 $ 2229952 3 11,533,934 1994
( ? 17
•
•
•
15
S'
O
City of Denton, Texas
COMBINED BALANCE SHEET - ALL FUNDS (CONTINUED) •
Septemoer 309 1978
•
LIABILITIES, RESSs General
Special Debt Capital
CONTRIBUTIONS, FUND General Revenue Service Projects
bALANCES AND F~ un~_ Funds Fund Funds
_ _
RETAINED FARNINGS
Deficit position in $ 139,792 •
pooled cash
Accounts payable and 261,948 11772 - 2619565.
accrued payroll _ 6',993
Deferred revenue
Liabilities payable
from restricted - _ •
assets
De Osits.
BN''ded)'debt" and notes - -
payable 101,827 1649619 27,641 629,+`782
Due to other funds 497,345 51832 -
Reserves 37,946 - 347,486 •
Encumbrances outstanding
Unrealized increment
in valuation of
.utility plant in
service
loS gstinent by othdr'
funds:.:
investment in general
fixed assets
Contribution by munici-
pality and governmental
agencies
Contributions in aid of
construction - -
Retained earnings 274,061 48,245 4,68 1,1 9_4 _
Fund balances
$ 1,1730127 $ 2279461 $ 321409 $ M731150 •
16
•
Water and lntra- Trust
Sewer governme-tal and General
• Electric System Service Agency General fixed
SFund Fund Funds Fund debt assets
_ $ 621,108 $ 362,022 $ - s S - % 0 i,659.d06 `67_121 90,468 2271952` - '
MAY 468,820 - ~ =
• 232,49.:,
189904,803 6,061,908 - - 119533,434
251,967 490537• 127 - -
295739493 551,590
•
1,136,75U
289,722
23,996,426
- 2;848,461 1,038,268 -
• 164;~8~ 2;4171483 618,345 - - -
151202,$18,. 4b5,0~0,
b 41,4 19 13,573,008 $ 2,398452 $ 222,952 S 1115339934 E 23,996,426
•
•
i!
•
17
•
City of Denton, Texas
General Fund
BALANCE SHEET •
September 30, 1978 and 1977
ASSETS 11
1978 1977
Equity in pooled cash' (Note C) 448,783 $ 399413
Delinquent taxes receivable,(Note A) 497,345 3679063. •
Miscellaneous. accounts receiVablb (net
of allowance for doubtful accounts of
$24,600 in 1978 and $10,000 in 1977) 329089 149771
Due from other funds ,1,941,910 321 233
S 1,1739121 $ 141,4,80 •
LIABILITIES, RESERVES AND FUND BALANCE •
Accounts payable $ 69921! $ 44,875
, ;
Accrued payroll and payroll taxes 192,737 15J?,671
Due to other funds 101,827 6. 2z
Total liabilities 363,775 266,834 •
Encumbrances outstanding 37,946 19,215
Reserve for delinquent taxes. 497,3¢5 367,063
Fund balance- 72r 6~a+; •
t $ 1 'i-13:ii7 $ 74~,;4$0
•
The accompanyi,ig notes are an integral part of this statement.
•
` l
'8
City of Denton, texas
General Fond
STATEMENT OF
EXPENDITURES AND ENCUMBRANCES
•
Years ended Septwber 30, 1978 and 1977
revised
• kidget Actual Actual
1978 _ 1978 1917
Revenues'
General property taxes 19935,024 ; 19873,265 : 1;450}848
Delinquent 50,000 43,978 72',976
Penalties and intei^'est 19 000 18,984 28'580
2IM49024 1,936
Other,revenues
Other taxes 1,627,243 19168,665 114019760
• Fees from revenup,-
producing facilities 911,500 887,433 832,983
Fines and fees 322,700 325,247 3029842
Licenses and permits 77,450 93,056 579384
Miscellaneous '340,166 1 '40_ 177 22.2`
•
Transfers from other
funds 2 635 138 2j5689943 1
i96
7,9 8,32] 9-T,
• Expenditures and
encumbrances 41719,757 49727,391 3,8849430
Salaries and wages 4799370 468,217 4339107
Supplies 661,486 7800998 618,415
Maintenance 19110,399 11058,961 840,753
Services 20,921 11,605 15,623
Sundry
Capital outlay 344,134 314,494 1089752
Nondepartmental 344,680 3689272 166,572
expenditures 61,084 68,111 64 089
Insurance -r7gg'665 ,131, O
•
EXCESS OF REVENUES
AND TRANSFERS
OVER EXPENDITURES
AND ENCUKRANCES $ 1162540 S 184,693 $ 629856
The accompanying notes are an Integral part of this statement. f
•
19
• ,..:..r.
77
•
City of Denton; Texas
General Fund
STATEMENT OF CHANGES IN FUND BALANCE O
Years ended September 30, 1978 and 1977
1978 1917
Balance at beginning of year $ 89,368 S 26,512
Excess of revenues and
transfers'over expenditures 84 3 6,55
anG encumbrances
Balance' at end of year $ 274,061 E 89,368
r
I
' 1 a r I n, l' 1
.4 1
The a~:companying notes are an {ntegra par -of Iths statem'en
20
City of Denton, Texas
Genel-al' Fu6d
STATEKHT,OF BUDGETED,AND ACTUAL REVENUES AND TRA14SFERS
0 Year ended September 30, 1970
Revised Actual
budget Actual rior ear
•
GENERAL PROPERTY TAXES
Current $ 1,9359024 $ 1,873,265 $ 11450,848
50,000 43,978 721978
Delinquentg 00 18 984 28 580
Penalties and interest 19936s227 ~ 2
,
OTH£R,TAXES 1,460,040 11535,627 1;1911462 '
Sales
Franchise - Lone Star 8q+ 44 84,744 76,880
Gbs.;CQmpany t
• FranGh'i e • General, 65;499 65,499 60;081
T_lep8ne Company 2b OOC 22,795 19,618
Mixed,~,beverage 57000 60,000 41`192-:
Hotel' occupancy tax 1~ 23 T;7b8;665~ ; 0;
• FEES fkOM'kYENUE-
PRODUCING FACILITIES J
Gar 4a a chargges 434•,, 000 4060176 4(61439,
r S denti al
Gar! a charges= 359,502 331;891 i
ciAm~rclal 366,00 ' 11,0984
10,0 15,115 , 390
• Swt hi 9 pool ,120
C, et~ y fees 1
14 CorNnb ity building 41500 50724 3 20 07:
rgnt 159489 121813
girPoyt rental ; 49000 Ga )~~ge penalty; 13.700 116,350
31135, -2961
rJite '
• Speolal p 2;700
ickup
Recreation program 31049 43,242 '
activity fee r '2,
,000 000 129959 r, r
Athletic program flee4~00~ 23;865''
A balance service a, - 00 887,433 7m s
FINES' ?t SEES 30615,00 301;5332841646 J
Corporration Court „ 3!000 211798 51328
An{malw pound ~``'S;500 702750 5;814';
871:
Automobile pound 1,200 2,037,
Court.cost service fee
• Police f,.dr escort 5 „Q 1660
a'nd `guard fees 3-255': ,
•
21
"1,t
City of Deynet ton, Texas
General Fund
STATEMENT OF BUDGETED (CONTINUED) REVENUES AND TRANSFERS •
Year ended September 30, 1978
Revised Actual
bud9_et_ Actual_ prior year •
LICENSES ANQ PERMITS
Zoning permits and 5,990 $ 4,500
petitions $
Taxcertificates 39$00 $ 3,934 1161
•
Electric and plumbing 4,300 4,152 4,458,
licenses M o0 7,104 5,2;,9 ,
vital statistics 49,55$ 2Q, 26
Building pentits 4l'00~0 10648 145
Miscellaneous ~armiis < } ~ygfl 1,125 X201 ".4 ,
Loading zones O
t 17,254 V •
Garbage permits 13Q,
Easasnent 0 412 4 4
Extavation permits 300
wine'end'beer 1,682 1 685
and licenses 17T 0 `g 5
0- •
MISCELLANEOUS 2346 2'344
Parkin meter receipts 22500 0 !
Electric inspections 4'0000 5,, 16, 61 596 y4. 0..
3"
Plumblog'.inspectians 1gtQQo
county: fire runs r. 52,258 5 8 2: •
Street cuts . i . ~ ',Obo f
41000 40000 _d0
Rents and concessions 22
073
State/Federal' grants , 492 " 465,
Gasal the tax refund 004'9
41,968
Miscellaneous income 271903
Sale of refuse bags,u`'n
'l i
Interest income 4,383
f
Sale,.of general ftxdO ~23,107
rasset ;`gr1'07
County contribution "686g' $raJ`
Civ,{1 Defense 110
Federal contribution - 169902 15,887, •
Civil Defense 18,000
Cwnty contribution - ` 99,65' X5,63.,
.Emily Fowler Librfry 113,i~0o 43,276 I,~'.,,I E r r r)~.
PracGeds from bark-lon I 4+216
County contribution
Ambulance service -TO-3.1-77 •
22
City of Denton, Texas
General Fund
STATEMENT OF BUDGETED AND ACTUAL REVENUES AND TRANSFERS
Year ended September 30, 1978,
Revised Actual
budget _ Actur.1 prior year
TRANSFERS FROM OTHER FUNDS
Electric System Fund
Administrative services $ 535,000 $ 3559180 $ 456,968
Return on net investment 110129823 1s012jR23 855,168
Water aqd Sewer System`Fsnd
4y Administrative services 179,000 252,625 162y323
Returt. on net investment 180,000, 180,000 =±5r°"
Revenue`tharing Fund 545,315 545,315 332001-
General Debt Servlce'Fund 183 000 183,000
M390 .
{ $ 1,918,321' 79982,748 $ 69194,657
r
r i r
23
i
City of Denton,-Texas
General Fund
STATEMENT OF ,1NPROPRIATIONS /AND EXPENDITURES AND ENC13OWNCES
Year ended September 30, 1978
Expenditures
Expenditures and
Revised and encumbrances
e~.ar
a ro riations encumbrances for
GENEPAL GOVERNMENT
4; 197,438 196,414 }41,805:;.
Salaries and wages 151512, 12,6p4 16►0t7
SUblies 22,785, }623,57 2,303 212
Maintenance 17n,335.
56i~ ["es 13,410, : 8,212 1 2
Sundry 400, - 18,865 7 3
56
capitaloUt1ay 199,152 7,809 ,0 0
Insuran:° 3,03 429,760 e
LEGAL 108,971 1049643 82,320
and wages 6,725 61295 7,656
Supplies 11225 1,225 730
Maintenance 22,059 22,580 179274
Services 21164 499 2,517
Sundry 4,280 39240 4,969
Capital outlay 501 - 407
Tn
Insurance -
, 30 ,
•
COMMUNITY DEVELOPMENT 274,686 274,992 254,682
Salaries and !rages 17,245 16,873 180171
Supplies 7,640 81552 90224
Maintenance 11,719 18,061 23,600
Services 11380 960 1$94
Sundry 703 '121 730
Capital outlay 3 409 3 132 3 516
insurance 7 2 32" 3 gl 3119617
CIVIL DEFENSE 29,934 29,281 27,137
Salaries and wages 1,829 11616 1,640
Supplies 39232 3,667 3,386
Maintenance 2,129 107x,2 31020
Services 10 11 16
Sundry 6,201 4,212 11588
Capital outlay 715 567 833
Insurance - ~4 15 ' q'1 6 b
24
City of Denton, Texas
General Fund
STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES
(CONTINUED)
•
Year ended September 30, I978
Expenditures
Expenditures and
• Revised and encumbrances
~propriations encumbrances prior year
FINANCE ADMIMIISTRATIOli
Salaries and wages $ 569560 5 519736 $ '63476
Supplies 446
~
• Mainte6ance 125 149 106 11400 19541 14791
16.
Ser+lices , ,
r, ptal outlay 17 11 205 10237 156
37 '385:
- f•
Insurance 386
5 `6 t -IOM
TAX DEPARTMENT 53,546 53,843 491761
Sal r1gS and wages 9,465 7,734 ; SIM
51~$S r
432
hlihto,ante t 10,783 664 -
91700 21981''
928
• Sp'vi ys 17 11 16'
S n4ty b22 334 414!
I OAl 750 877 N+335"'
Ca nal outlay '~-1.1T -IrtM ..-9=
• DATA PROCESSING 108,076 110,300 e9+150'```
Sal~rigs and wages 4,360 5,241 5,3I35'
Supplies 21,604 23,251 537
Maintenance 88,448 91,226 92,126'
Copital al outlay 20,342 20,642 39122
$pi
• Insurance 2,830 9T TWO
SANITATION - COLLECTION 340,715 3439121 309,405'!'i
Salaries and wages 167,870 1140831 168,451
Supplies 89,500 1270161 91046,
I1)n't'enance 75,577 76,353 6SMS'
Sa►"'v i ~e s 300 85 14
Sundry ! 35,248 34,917
Insurance $iI45
t;su alrance outlay 9 000 5 897
j PS -,434
s
,
•
•
25
City of Dentpn, texas`
General Fund
STATEMENT OF APPROPRIATIONS ATINUE ~NDITURES AND ENCUMBRANCES •
Year ended September 30, 1978
Expenditures •
Expenditures and
Revised and encumbrances
anaropriations encum_its priaar '
SANITATION - DISPOSAL 57,111 S 4 033 •
Salaries and wages § 54,844 ; 7,190 4ti324 ;
Supplies 32,085 19,921
Maintenance 102,437 100,988
Services 85
Capi al outlay 600 193 50
---p •
I nsurince -Tgrs W -TWO
1,683,865
POLICE,
Sala ies and wages + 1,078,740 1 i
11,010 56,261 1
Supp ies 69,702
Maintenance 470831 57,307
Services 809439 `d i. •
12,546 X 7
Insurance + 109265 803 1
,
Sundry 10825
8 100 , _ 23,928
Capital outlay 28 100
1,314,418 ,
S r
RIGHTFpF,-WAY
Salaries and wages
Supplies - - r24
Maintenance - )170'1
Services
Sundry - 29
PURCHASING 3b,163 30,948
SalAries and wages 35,494 3,343 2~0y,
SupAlips 3,553 745U.
Maintenance 600
Services 5,500 41682
11
5 f S F: -+li t,
Sudry 15
IAS ranee
; ; -
Captal outlay 4 275 ; s
44,904
26
• City, of Denton, Texas
General'Wd
STATEMENT OF APPROPRIATIONS AND EXPENDITURES AND ENCUMBRANCES
(CONTINUED)
•
Year ended September 30, 1978
Erpenditures
• Expenditures and
Revised and enraabrances
anyo riations encumbrances prior ~ear
BILLING AND COLLECTING 259
Salaries and wages $ 248,792 248,012 $ 195,
456320 S, 44,165 43,135
• supplies 46,335 69074 4;4$5
Maintenance 12,60b 91424 9;801'
Services 940 427 138'
Sund`
'ry
Capital outlay 10000
726 1129 '1'569
• Insurance 310,386
ACCOUNTING 21,511
ssl~r,11es and wages 42,531 40,562 2066
5u p11gs 31275 30163
• Ma,~ttenance 101 58
3,418 3,450 10907
S~rv'iC~s 877 875 '100
Capital outlay
Insurance=
~r 509
• PER OKNEL' 36,563
Salaries send wages 36,454 38,94Q 3~9~
Supplies 39230 3,509 112
Maintenance 185 198 6,352
$ervices 7,171 61004
Insurance 27 1 289
Captal outlay 1 020
4 8,266
• ,
TRAF~Jt'CONTROL 64,056 63,606
1a spJOS and wages, 65,84e 51340 4,137
upplies 4,200 25,963 21,861
maintenance 28,200 1,957 89484
erv,i ces 80840 995 1, 654
ppi.tal outlay 19150
insurance T882 -An
109 80
f r, i
•
27
City of Dentpn;, Texas
General Fund
STATEMENT OF APPROPRIATIONS AND E EXPENDITURES AND ENCUMBRANCES'
•
Year ended September 30, 1978
Expenditures •
Expenditures and
Revised and encumbrances
appropriations encumbrances prior year
FIRE 11154,221 873;4 8 0
Salaries and wages S 1'133,190 $ 34,171 2da9S4.
Supplies 20,181 26,878 ~1~091
14aintenance 50,911 45,836 34'830
Services 23 23 33'
Sundry 809729 74jO87 1, 263
Capital.outlay 7
g 817 8 942 5- •
Insurance "9
STREET, AND BRIDGE 324,950 314,008260'1 946;
Salaries and wages
supplies 289150 21,463 4,
336,580 396,802 2$~,~21d. 0
Maintenance 212,640 3b731r
Seevices 233,900 351 + 444'
Sundry _ 600 n~1861,
Cepi:al outlay " 101,000 35,914
Insurance 9 000. 11 433 13 288
r < •
PARKS'.s ADMINISTRATIONS.. r'
AND PARKS 222,396 250,953 `1a4~g16'
Salaries and wages,.' 27,914 26,525 21;536.
Supplies 24667
27,105 29,108
Maintenance 50,432 64,340 34007 0
188
Services 320 179
Sundry 1,385 10177 1314Q7
Capital 4 412 4 520
1nSOrance 3YfflT 0
PARKS, SWIR-IING POOL 1 396
219160 21,365
Salaries and wages 20180 vz:tftr,,~876
Supplies 29445 r. f.2 907
Saintenance 7,914 69116
Services 4,750 39564 21713
Capital outlay 2,723 29805 x452
Insurance 300 ~ 71 0
r92
•
28
city of Denton, Texas
General Fund
STATEMENT OF APPROPRIATIONS AND EXPENDITURES ANO ENCUMBRANCES.
(roNTINUED)
Year ended September 30, 1978
Expenditures
Expenditures and
Revised and encumbrances
appropriations encumbrances prior year.
PARKS - RECREATION 75,019 71,876
Salaries and wages $ 86;930 $ 7,340 20+~~3
• Supplies 2,600 ,319 .2,~738
14.0ntenance. 10,900 7,207 18,643
capital outlay 990 608 1 2}8
Ihtf tat 50 ,
57,4 MOM
PARKS - ATHLETICS 34,691 34,31
Salar,Vs and wages
Suppl fis 119757 9,949a
150
Malnig ance 349258 .43,199
• S~Nvi c~~s _ . : , . , ~
C4pita1, outlay 1050 866
a - -
Inturhnce - 899T1
,
LIBRARY 152,486 143,789 117,508
• Salaries and wages 7 965 79709 9,644
ServiSuppliesces 2,710 21704 2 7 54
34
Maintenance 380126 36,209 Capital outlay M OOO 277,010 19,0198
111 1 420
844 1 •
Insurance
AIRPORT 155 209 72
Supplies 19950 4,426 21173
5,150
Maintenance
Services 109260 9o538 230
• Sundry 7,500 50000 34,942
Capital outlay 1 58 559 1 708
Insurance 0
21, 13
•
0
29
•
City'of Denton,' Texas
General Fund
STATEMENT OF APPROPRIATIONS ANiDUEp EN01TURES M ENCU148RANCES 41
Year ended September 30, 1978
Expenditures •
Expenditures and
Revised and encumbrances
apyr_ o___vr_tatiors encum___ ceI 2r ar
NONDEPARTMENTAL •
EXP~k.QITURES
pity-county health 63,513 $ 57?
unit services S 51,501- 17,936 1,2
t unity agencies 15,75'1
3
ow ,l
State grants "
6p¢Id4pts and miscel,-r 4,00 22,326 47,461 •
taneous
Contribution to
tourist and visitorsl; 53,997 45``45,
center 561430 '
Flow Hospital 210 500 X10 500
$ 7,741,781 19798,055
P
IP t
1 4
P
{ 1
F y ~ r. t
rf1
t
30
•
•
•
THIS PAGE LEFT BLANK INTENTIONALLY
•
•
•
•
31
City of Denton, Texas
Special Revenue Funds
BALANCE SHEETS 0
September 30, 1978
Total 7
ASSETS Memo
Cash $ 55,646
Equity in pooled cash (Note C) 2,140
Due from other funds 40,380
Grants and entitlements receivable (Note A) 129,295 •
$ 221,461
0
LIABILITIES, RESERVES AND
FUND BALANCE
Accounts payable 5 1,772
Due to other funds 164,993
Deferred revenue
Total liabilities '
Encumbrances outstanding 5,832
Fund balance 48,245
$ 227,461
•
•
The accompanying notes are an integral part of this statement. •
32
•
•
Community Federal Miscellaneous
Development Revenue Special
(1 Block Grant Sharing Revenue Funds
E E 37,011 $ 18:635
2,140
100000 14,842 15,538
129,295_
,
S 181+,148 X4,173 12,140
E 117
x,,164,506 r
6 3
T,f6$
® , r %,164,506
5,030 - 802
9.642 31 6
E 12,140- $-181,148 E 34,113
• ,
® I
33
•
City of Denton, Texas
Special Revenue Funds
STATEMENTS OF CHANGES IN FUND BALANCE ♦
Year ended September 30► 1978
Community •
Total Development
Memo Blork_Grant
Balance at October It 1977 S 67,091 $ -
Additions 134,762 134,762 •
State and Federal,gr4nts
Contribution from municipal 15,538
utilities
Contribution from civic 41353
organizations I,901 r
McKenna Trust distribution 13761
Library fines and memorials
Rental fees - Civil Defense 11509
airplane - 4,110
r. J
Defensive driving
ours fees ',620,914 -
Federal revenue dt tribution 14 842 - •
Interest income .1"
Deductions ,251468 259468.
Salaries and wages 11182 69
Supplies
Maintenance 18,339 180290
Services 16,056 49130
Capital outlay 545,315 -
Transfer to General Fund
Grant transfer to Denton 86,805 860805
Housing Authority
Transfer to Airport Improvement 26,798 -
Gr*nt Fund
Adjustment to prior year (29285)
encumbrances 11418
Civil Defense airpltne expenses 3,946
Defensive driving course expenses 70
Donation to Emily Fowler Foundation 12
$ 48,245 S
Balance at September 30, 1918
The accompanying notes are an Integral part of this statement.
I
34
Federal Miscellaneous
• Sharine Revenue Funds
` $ 50,747 $ 16,344
11
15,538
4,353
1,907
13,761 r
1,509
4,110
520,914 , .
1477 5'6 117
•
1,113
• 49
33 11,893
545,315 '
• 26,798
(21285) 1,418
. 3,946
7 5
• X61 .91
16,642 S 31,603
fY~t rya
•
• 35
•
City of Denton, Texas
Special Revenue Funds
DETAIL OF MISCELLANEOUS SPECIAL REVENUE FUNDS BALANCE •
Year ended September 30, 1978
•
Lions Club Park Project $ 407
McKenna Park Fund 9,350
Emily Fowler Library Fund 708
Clyde Wright Memorial Fund 5
Civil Defense Airplane Fund 352
Defensive Driving Course Fund 826
NTSU Student Recreation Fund 125
Denton Tennis Fund 10
Denton Garden Council Fund 10
Denton Insurance Agents Crime Fund 4045
7
Bicentennial Organization Fund 1,7 •
Senior Citizens Activity Fund 15,538
R.E,D. Board fund 2.812
Hi-Noon Lions Club Fund
S 31,603
•
•
•
36
• City of Denton, Texas
Federal Revenue Sharing fund'
STATEMENT OF REVENUES AND TRANSFER '3j
EXPENDITURES AND ENCUMBRANCES
• For Year Ended September 30, 1976
• Budget
1978 Actual
REVENUES
Federal revenue distribution $ 520,914 520,914
4
Interest income 1
620s91 336,756
EXPENDITURES 33
Capital outlay '
Transfer to General Fund 545;315 5450315
• Transfer to Airport ImprovEiment 26,798
Grant Fund
Adjustment,- Prior Year (29285)
Encumbra0d
EXCES'; (DEFICIT) OF
REVENUES AND TRANSFERS
OVER EXPENDITURES AND
ENCUMBRANCES $ 24 401) 34,105)
e
•
•
•
37
~i
•
City of Denton, Texas
General Debt Service Fund
BALANCE SHEET
•
September 30, 1978 and 1977
ASSETS •
1978 1977
$ $ 1hG,501
16
Cash 32,409 1,0 ,
Time deposits and accrued interest •
$ 32,409 $ 167,517
MMM=~
LIABILITY AND FUND BALANCE
Due to G0001 Fund 27,b41 3
Fund balance 4,868 157'517
$ 32,409 S 167,517
•
•
•
i
The accompanying notes are an integral part of this statement.
1
38
• City of Denton, Texas
General Debt Service Fund
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND FUND BALANCE
Years ended September 30, 1978 and 1977
` 19.78 _ 1977
Revenues
Budgeted portion of taxes collected $ 1,257,432 $ 8519911
Interest earned on investments 2:,126 25,270
Transf,ar from revenue sharing - 75,000.
112~~ 9 2,181
r
Expenditures 342
Bank note principal payments 3,
653,342 X61,000
IntereBondsst retired 559:089 ~0394i1
111 691
• Paying agent fees 192590207 1,06 ,10
Transfer of prior year's accumulated
interest income and tax collections 11
• in excess of requirements to General 163,000
Fund
EXCESS (OEFLCIT) OF
Rt:V9Nl~ES OVER
• EXPENDITURES 112,921)
AFTER TRANSFER (162,449)
..~4
Fund balance at beginning,of year 1672517 ._200
Fund balance at end of year, $ 41868 $ 167,517
•
The accompanying notes are an integral part of this statement.
40
39
0
City of Denton, Texas
Capital Projects Funds
L ALANCE SHEETS
•
September 30, 1978
Parks and Airport •
Total Recreation Improvement
ASSETS Memo Bond Fund Grant Fund
Ca.h $ 4039831 $ 102,041 $ -
Time deposits and accrued interest 1,1541018 379010 -
Due from other funds 621,231 98,491 26,798
Grant reimbursements receivable 210,097 119,072
Street assessments receivable, less
allowance for Ohcollectible
accounts of $92,531 123,9]3 - -
$ 2,573,150 $ 237,542 145,870
LIABILITIES, RESERVES
AND FUND $ALANCE
Deficit position in pooled cash (Note C) 139,792 $ - $ 139,792
Accounts Payable 2661,565 1129168 4,778
Due to other funds
•
Total liabilities ,1 9 30 144,576
Encumbrances outstanding 347,486 121,777 1,30C
Fund balance 1,194,525 19035 -
$ 2,573;150 x'2379542 $ 145,870 •
•
The accompanying notes are an integral part of this statement.
•
40
•
m
Construction Williams
Parks and Street Community NTSU Street Square
® Development Improvement Development Special Assessment Improvement
Grant Fund Bond Fund Grant Fund Projects Fund Fund Fund
$ 61,180 $ 819698 $ 30,439 $ 28,281 25,191 $ 77,001
837,972 - - 279,036
4623071 - - 33,871 -
• 151,025 - - "
123973
$ 212,205 $ 1,381,741 $ 309439 $ 26,281 $ 462,071 $ 17,001
$ 27,158 $ 66,85 $ 3,;u1 $ 309981 $ 16,284
123 220 17 087 24 841 462 071
5T 0 3~$ 83,9$2 283 3T,Vf in' 16,284
• 3,041, 146,154 21296 - 32,918
1~5:rc,
58,786 1,111,605 s 4 700 - 27,799
$ 212,205 $ 19381,74' $ 309439 $ 26,281 $ 4629071 $ 77,001
•
•
41
•
City of Denton, Texas
Capital Projects Funds
STATEMENTS OF CHANGES IN FUND BALANCL
Year ended September 30, 1978
Parks and Airport
;ntal Recreation Improvement
LMemu'_ Bond Fund Grant Fund
$ 21504,597 $ 113,170 $
Balance at October 1, 1917
Additions
Proceeds from Certificates of Obligation 125,000 - •
Interest and miscellaneous 120,579 30,600 -
Transfer from Revenue Sharing Fund 26,798 - 269798
Transfer from Street Assessment Fund 19,738 -
Grant revenue 887 926 7361875
.'I,180;041 0,600 - , 763,673
Deductions 452,260
Streets, curbs and gutters
Purchase of land and right-of-way 374,981 - 2759636
Building, land improvements and
equipment 1,596,292 8039335 488,037 •
Miscellaneous expenses 149842 - -
Tr,4nsfer to Street Improvement Bond Fund 32,738 -
transfer to Denton Housing authority 2 32 1 ~ a
•
Balance at September 30, 1978 $ 1,194,525 $ 19035 $ -
•
•
The accompanying notes are an integral part of this statement. •
•
42
0
Construction Williams
Parks and Street Corrliunity NTSU Street Square
Development Improvement Development Special Assessment Improvement
Grant Fund Bond Fund Block Grant Projects Fund Fund Fund
• $ 160666 $ 19518,118 $ - $ 52s013 $ - $ -
- 125,000
• 670099 = 21512 19,738 630
19,738 - -
`
1010879 - 49,172
10,1,819 86,837 49,172 29512 9;738 .125,630
452x2¢0.
40;120' - 59;25
2Q 714 11000 2,330 - - 97_831
14,842
- _ 19738 _
32 000
203,759 493,3$ 0: 9 2 W- M 197 .
$
• $ 5$,7@b: $ 1,111,605: $ (,49700) $ 21,799
43
City of Denton, Texas •
Electric System Fund
BALANCE SHEET
September 30, 1978 and 1977
•
1978 1977
ASSETS --19 7 8
Current Assets
Operating Fund
Equity in pooled cash (Note C) $ 19428,342 $
Time deposits and accrued interest 5,047,226 -
Accounts receivable (less allowance
of $435,852 - 1978; $321,872 - 1977
for uncollectible accounts) (Note A) 318979623 31341,985
Due from other funds 139349 79,307
Inventory of fuel (Note A) 973,485 1,1409585
Prep-,id expenses 47,379 37,856 •
Deferred cost on Lone Star"Gas
retroactive rate adJustment (Note F) - 4781821,
Re ate receivable from Lone Star Gas
-Note F) = 308j516 11,4079404 513879070
•
RESTRICTED ASSETS..
Pledged Revenue-Fund cash (Note:D) 43;175; -
Revenue Bond Debt Service Fund"(Note D)
.Cash 1,23?
Time deposits-and accrued interest - '14;2 b' •
Due from Electric Operating Fund - 3109734
Retirement Fund-(Note D)
.U. S. Trea$ury.,pbligatiops,and
accrued interest - at cost 435,198 - -
Revonue Bond Construction Fund
Cash 81,809 234,828 •
Time deposits and accrued interest 211,621 92;231
Revenue Boid Reserve and Contingency Funds(Note D)
Cash - 194,487
Time deposits and accrued interest - 1,923,835
U. S. Treasury obligations and
accrued interest - at cost 21573,493 - M
System extension and improvement 41615,177,
Equity in pooled cash (Notes C and D) -
3,345,296 8,629,759
UTILITY PLANT IN SERVICE (Note A)
Land and land rights 291029 291029
Electric plant production and distribution
facilities (less accumulated depreciation
and amortization of $19,044,539 - 1978;
$17,6679170 - 1977) 25,3839855 25,756,730
Construction in process 821,788 1 279 497
•
26 279327o556
INVESTMENT IN INTRAGOVERNMENTAL SERVICE
FUNDS - AT COST 180.747 180,747
$ 41 4304419 $ 41,525,132
The accompanying notes are an integral part of this statement.
44
4
A
LIABILITIES AND SYSTEM EQUITY 1978 1977
CURRENT LIABILITIES (payable from Operating
Fund) $ $ 3,617,043
• Deficit position in pooled cash (Note C) ;,533,599 1,2279433
Accounts payable
Accrued payroll and vacation pay 125,597 106,328
257,967 401,768
DLe to restricted and other funds 232,459 197~212
Customers' deposits
Ac,.ived Lone Star. Gas payment 478,821
I'dtroactive rate adjustment (Note F) _
Rebate payable to customers (Note F) 2,1 9_,;6 4,2 0
M LIABIL1T16'PAYIIBLE FROM at~t'RICTED ASSETS
Revenui'8gnd 4ebc Sgrvlcg Fund _ x,44,000
Reveny ,bonds payable wlthin one year 604,443 41,895
Acpr~g~interest { r•, ,
Reveniig,OQnd Construc~~on;Fund
Ap44uits payable , 82,912 79►565
A Dpe. ip, other funds 5 495 •'43 060
692, 50 0 ,461
LONG-TERM DEBT (Note pp)
Revenue bonds payable = exclusive of 19926►40Q 1r,942,000
matoities,due within,ane,year 350,197)' -
Bond discount - Series198 1 , ► 3 1 902,093
SYSTEM A6U ty.
Reserves; 493 2',1x1 ,322
2,573,493
For revenue bond contingencies 4
For system extension and improveme,tit_
Unrealized increment in valuation of 19736,750 2,019,909
utility plant in service (Note A) - 169,783' 161,203
Contributions in aid of construction 159102,878 7 965 780
Retained ear,tiings 191682,904 16, 80,391
COMMITMENTS AND CONTING£NtIES (Note E) " l---"--
S 41,430019 ji, $ 41,525,132
C
45
•
City of Denton, Texas
Electric System Fund
STATEMENT OF OPERATIONS
Years ended September 30, 1978 and 1977 •
1978 1977
•
Income
Electricity sales (Notes A and D)
Customers $ 179757,409 $ 16,2029663
Intragovernmental 807,847 158,595
Resale power income 45,465 660,565
Other 32,153 86 450 r
18164~Td IT*";-' W
Expenses
Salaries and wages 1,1491816 1,057,501
Fuel 8,0941832 9,263,223
Purchased power 3,p0 9503 1,116;8 0, r
Supplies i~ X050 1101 .
Maintenance "2i~,1 ;186;206
Insurance 2156; 6 128,294;
Administrative services 395,180 " '4561968'
Services
,`Bad debts 128,694 ` 1k01120' •
Sundry 713671: ''14 ,144
13.E ~9 12bT, 6
Operating income before
depreciation 59050,345 5,034;951
Depreciation (Note A) 11094 j.M. {Ijp.iO'603
Operating ihcome 30956,134 319849354
Interest income 317s271 2 4 O3
_U73 405- 4~219,05V
41 0
Bond+ interest and fees ( 1 41 758 82E1)`
Net incora before transfer
and extraordinary Income 3;1999647' 3,393`,416
A
Discretionary tran$fer of excess
,revenue to General Fund (Note B) (1,012,823) 35 68 ,
Net income before extra-
ordinary incoffe 29185,824 29538,308
Extraordinary income- gain on ~
.advance refunding (Note 0) 890 2
NET'INCOME E $ 31077,092 S 2,5389308
The accompanying notes are an integral part of this statement. •
46
I~i♦
•
a
THIS PAGE LEFT BLANK INTENTIONALLY
•
• 47
City of Denton, Texas
Electric System Fund
STATEMENT OF CHANGES IN SYSTEM EQUITY
Years ended September 309 1978 and 1977
°eserves
Revenue Extension
bond cant,encies and Improvement
1978 1911 1978 1977
Balance at beginning
of year $ 29118,322 $ 199689789 $ 4,6159177 $ 2,885,447
Additions
Transfers from
Operating Fund (Note D) 215739493 149,533 11288,628 2,213,534
Contributions by _
customers
Net income
Transfer from
reserve for
extension and
improvement for
additions to
utility plant
in service (Note D) -
Transfers from restricted
assets as result of
refunding bonds
(Note D) T,T 7 1 _,M 149,533 1,28 29213.W
Deductions
Transfer to retained
earnings as result of
refunding bonds 5,517,538
Or"4 D) 29118,322
Reduction equal to r
extension and
improvements made
during the year
from current
revenues (trans-
fer to retained 386,267 4839804
earnings)
Amortization of
unrealized incre-
ment (Note A) r
Transfer to reserve
for extension and 1
improvement '
Transfer to reserve
for revenue bond _
contingencies 0 05 In
1 2 S;"rl
Balancrl at end of year S ,573,493 b,2 lr 18 S.---
The accompanying notes are an integral part of his statement.
0
•
Contributions
Unrealized increment in aid
in valuation of construction _ Retained earnin s
1978 1977 1978 1977 191 1911
0
$ 2,019,909 $ 2,303,069 S 161,203 $ 1243944 $ 7,965,780 $ 793069735
89580 36,259 - -
_ - - 3,071,092 2,536,300
•
386,261,. 489804
~7 6~3.5~.8_60.. -
,0 2
y ' 8,580 3629- 1,01 99,29 12
•
0 .
283,159. 283,160
i
• _ - - 1,288,628 2,213.534
2 57 493 149 533
$ M $ _,01~ 9~, _ $ 169,1$3 $ 161, 203 $ 5 , 20 8 8 $ 1 965 780
49
•
City of Denton, Texas
Electric System Fund
STATEMENT OF CHANGES IN FINANCIAL POSITION
'fears ended September 30, 1978 and 1977
1978 1977
Sources of working capital
From operations
Net income before
extraordinary item $ 211860824 $ 2,5389308
Charge not requiring
working capital
Depreciation 1,094,211 11050,603 +
Working capital provided
l from operations before
extraordinary item 3,281,035 3$88,911
Working capitei provided
from extraordinary item 890,268
Working capital provided
from operations 41171,303 3,588411
Repayment of investment in Motor
Pool Fund - 1240549
Contributions from customers and
developers 8,580 36,259
Net increase in long-term debt due
to 'refunding of bonds (dote D) 21002,802 -
Decrease in restricted assets net
of liabilities payable from S
restricted assets 4 468 852 -
10,6 3,149,719
Applications of working capital
Additions to utility plant in service 546,785 9249683
Reduction of long-teem debt - 11044,000 +
increase in restricted assets net of
liabilities payable from restricted
assets - 1,5219200
5~d5 .,883
INCREASE IN WORKING CAPITA'. 10,1049752 2599836 •
biorkIng capital (deficit) at beginning of year ___1847_L210), 1 1~7,04B)
+ forking capital (deficit) at end of year 5 91257,542 $ (8419210)
t
50
•
City of Denton, Texas
Electric System !Fdnd
STATEMENT OF CHRIGES IN FINANCIAL POSITION tCO11TINUED)
• Years ended September 30, 1978 and 1977
1978 1977
• Changes in components of working
capital
increase (decrease) in current
assets
Equity in pooled cash
and investments $ 6,475,568 $
• Accounts receivable 555,638 878,670
Inventory of fuel (167,100) 784,351
Prepaid expenses, 9,523 249138
Due from other funds (65,958) 419208
Deferred cost on Lene Star
Gas retra4cti"Ve rate ad-
• fustment`and'deficiency
(478,821) (755,241)
Rebatteeerewyable from L6hq (308,516) 308"516
Star GaS '
6,020,334- 1,2 0642
(Increase) decrease in current; `
10411 ties`.:.
Deficit pdsittoh in pooled
. cash 31617,043 (1,171,592)
• Accounts ~AyAle (3069161) 71006
Accrued payrrll and vacation
pay (19,486) (70,550)
Due to restricted and other .
funds Customers.i , 143'$81 (308,428)
, 4eposl.ts 259611- 5 :"%27,806)
)
• Rebate payable to customers (205,677
241)
e Star Gas payments 478s821 155
Accrued Lon
% T1084t418 (740
ff M-
INCREASE IN WORKING CAPITAL $ 109104,752 $ 259,836
•
The accompanying notes are an integral part of this statement.
•
51
•
city-of Denton texas
Electric System Fund
STATEMENT & BUDGETED AND ACTUAL' REVENUE
•
Year ended September 30, 1978
Revised Actual
budget Act,ial_ _ prior vear •
customer sales- $ 6,9939000 $ 6,575,245 $ 5,660,433
residential
Customer sales- 11,556,000 10,978,635 10;363,040
Penaltiescommercial 170,000 169,562_ 147,258 0
Dusk-to-dawn rental 33,700 33,967 31,932
:fees
Intragovernmental, sales 619,600 624,004 584,584
Street and highway
lighting 197,000: 183,947 174,011
Resale power income 27,000 45;465 660,565 •
Collection on charged
11000 4 1k$QZ 5,199
off accounts 4 1,352
Reconnection fees lls878 25949 16,491
M1 ellneous: 3,000 3,517 29908
housse moves
-
Aid i construction 41000 8,580 V
Sale of scrap material 2 IT 893
91 Trx
9,200,0 , 1. ~ L~
Interest
$ 19,928,178 18,9091325 717,942,976
•
`Adjustment 1:6
(234,703)
commercial Asi;; 311,J
Interest4v~714~ 8 Ai( in consLO' Won , •
t 18$6430474 S 17,708,213
1
52
•
city of, Dgpton, .Texas ,
Electric Sysfem Fund
STATEMENT OF APPROPRIATIONS AND EXPENDITURES, i
ENCUMBRANCES AND TRANSFERS 1
•
Year ended September 30, 1978
Expenditures
• Expenditures, and
Revised encumbrances encumbrances
appropriations and transfers prior year
ELECTRIC PRODUCTION
Salaries and wages $ 577,212 $ 556,826 S 506,913
•
Supplies 146,041 117,135 1 9,5 0
Maintenance 121,789 959675 5 907
Fuel/Purchased power: 11,6311621 11,179,335 11,114,923
Services 34,304` 20,177 222,$Q7
Insurance 141,804 1359117 1~9 1
• Sundry - - `37
Capital outlay 29 594 86482 215
69 12,113,347 n~o"l 9123
ELECTRIC DISTRIBUTION
AND,METERING I
r8alaries and
0
,wa es 630,949 628,709 54L
,073
Supplies 31,597 31,149 22,954
Maintenance 103,850, 117,319 127,961
Services 32,150 28,184 339914
Insurance 21,991 20,455 17,746
• Sundry 39000 2,613 f>> tr,a4;
Capital outlay 314,E 318.171
1,131,137,8 4 1,1461600 . r , _ .a ,
PRO RATA SHARE 01 n: r
UTILITY ADMINiSTRA-
• TION EXPENSE
Salaries and t
1289702 11,1798
Halges, 138,207
Supplies 69869 69980 x,425
Maintenance 31515 4,307 - ,ill
Services 2120781 179,959 , ,,,038
',),'SurWy 1.080 1,327 1;~; ;;•,~t~3,036
•
Insurance 762 1,114 L:,757
Capital outlay 1,750 1,631 1 457
364,964 3249020 ..r f,~~:3 _r 22
• r +it -
•
53
•
City rof De6td6',-'!dxas
Electric' System Fund
STATEMENT OF APPROPRIATI0 'AND EXPEN01W RES,
ENCUMBRANCES AND TRANSFERS (CONTINUED)
Year ended September 301 1978
Expenditures •
Expenditures, and
Revised encumbrances encumbrances
appropriations and transfers prior year
NONDEPARTMENTAL I
EXPENDITURES
lnter,+st and
reA oti on
requirements $--194929115 $ 11492,114 - $-1,867M7
Yeahtfers to
Ge'neihal Fund
`.Administra- •
it1 ye, , i
'6rvites 535,000 395,180 456,968
Return on net
investment 19012,823 10012,823'',: +,:ai8551168r
Bad debt expense 93,800 128,694 ?+120,=120
Sundry - 3,427 Pf10~965 •
$ 17,318,94 1 $'1696169205 $ 16,652,438
ADJUST ENTS TO •
ADJUST L BASIS
Encithbrances -
prior year 158,486 128,866
Transfers to
bond paying
agents (1,492,114) (1,867,227)
a italized
. P,. `xpendi tures r. , ( 689,081) (I ,287,B80)
e
"'Tr4nsfer to ,
grjeral Fund -
'46furn on net
investment (1,012,823) (855,168} •
:',;encumbrances -
~yrrent year - (158;486)
YaeAtlon pay .t:
accrual 12,456 60,773
$ 13,593,129 S 121673,316 •
•
54
•
•
•
•
THIS PAGE LEFT BLANK INTENTIONALLY
•
•
ri r
•
55
City of Denton, Texas
Water and Sewer System Fund
BALANCE SHEET
September 30, 1978 and 1977
ASSETS 1978 1911
CURRENT ASSETS
Operating Fund
Miscellaneous accounts receivable $ 4,856 S 5,807
Due ftom restricted and other funds 457,350 166,433
Prepaid expenses and deposits _ 4 827 4 226
467:033 ~
RESTRICTED ASSETS
Revenue Bond Debt Service Fund (Note D)
Cash 167,525 50,509
Time deposits and accrued interest 580393 -
Due from Water and Sewer System
Operating Fund - 1639325
Revenue Bond Construction Fund
Cash 250,246 516,189
Time deposits and accrued 2559143 42,540
interest
Revenue Bond Reserve fund (111ite D) 159209 185,929
Cash ♦
Time deposits and accrued 536,381 330 659
interest
1,~,897 1, • 1
UTILITY PLANT IN SERVICE (Note A) 3739527 2239896 ♦
Land and land rigl,ts
Water utility plant (less accumulated
depreciation of $4,832,209 - 1978; 8,218,201
$4,499,372 - 1977) 8,054,641
Sewer utility plant (less accumulated
depreciation of $3,934,561 - 1918;
$3,715,165 - 1977) 2,411,453 2,607,936
Water rights (less accumulated depre-
ciation of $125,032 - 1978;
$1209031 - 1977) 1259032 1309033 Construction in process 689j45_a 496,293
11,714,103 11.676,359
INVESTMENT IN INTRAGOYERNhENTAL SERVICE
FUNDS - AT COST 108.975 1081,915
R 13,573,008 $ 13,312,951
The accompanying notes are an integral part of this statement. '
56
•
•
LIABILITIES AND SYSTEM EQUITY 1978 1977
CURRENT LIABILITIES (payable from
Operating Fund)
• Deficit position in pooled cash
(Note C) $ 627,108 $ 7219021
Accounts payable 11,296 1,110
AccrLed payroll and vacation pay 55,825 49,208
Revenue bonds payable within one
year 202990", 2099045
e Due to restricted and other funds 492'1 196 057
946,614 1,441
LIABILITIES PAYABLE FROM RESTRICTED
ASSErs
• Revenue Bond Debt $ervjte Fund
Revenue bongs payiDle'within one
year 162,092 1451955
Actrued interest `63,826 67,878
Aevenue Bond Construction Fund
Ac4cunts payable„ 1,519 :209371
u No to other Water', and Sewer
System funds 241,323 120,245
6~,8~ 354449
LONG-TERM, DEBT (Note ,Q)
• Revenue bonds payable = exclusive
of maturities due within one year 5.,86,,5,000 6,230,000
SYSTEM EQUITY
Reserve for revenue bond contingencies 551,590 516,588
• Contributions from,municipal or other
'government units 2,848AI 2,'1$1,412
Contributions in aid of,construction 21427,403 2,284,927
Retained earnings (accumulated deficit) 46S,640 2 866,
114 , „ 61
•
COMMITMENTS AND CONTINGENCIES (Note E) -
• $ 13,5739008 $ 13,312,951
•
57
•
city of Denton, Texas
Water and Sewer System Fund
STATEMENT OF OPERATIONS
•
Years ended September 30, 1978 and 1977
1978 1917
•
Income (Notes A and 0)
Water sales $ 2,206,051 S 1,614,167
Customers 859577 66,706
intragovernmental 1>182,8 b
559 817977
Sewer service charges
Other
Expenses 124,472 649133i
Salaries and wages 1390519 136;638
Supplies 260,161 2540955 •
Maintenance 40,450 4;249
Power 252,626 91323
,Administrative services 14 s422 114-0321
Services
Insurance 23,34 `39' 31
Bad debt and sundry expenses •
Operating iiscome before 10499,384 801,077
depreciation
551,236 r46 301
Depreciation (Note A) •
Operating income 9 a2,148 254,776
73,124 ..R16
Interest income ~z'
1,Or` 1~2
1)on,d interest and fees 322,364 3j 16,E •
5,945
Net 6coone` before transfer. ~Q2+968
Oiicretionary't.Oans'fer of excess
revenues to General Fund (Note B) -LAO-LO-O0)
NET INCOME $ 5129908 S 51945
i
The accompanying notes are an integral part of this statement.
1
58
•
•
I•
•
THIS PAGE LEFT BLANK INTENTION LI Y
E
•
•
•
•
59
v
•
City of Denton, Texas
Water and Sewer System Fund
STATEMENT OF CHANGES IN SYSTEM EQUITY •
Yeats yjnded September 30, 1978 and 1977
I
Reserve for revenue •
bond continqe_n_vies~
1978 1917
Balance at beginning of year $ 516,588 $ 4801018
Additions •
Transfers from Operating Fund 359002 36,570
Contributions by developers and
others for water and sewer
system improvements - -
Contributions'byttustoiners fvr water •
and sewer taps and extensions -
Federal grant receipts -
Net income '
3 ,002 369976
Deductions •
Transfers to reserve for revenue
bond contingencies '
Balance at end of year $ 551,590 $ 5169588 •
•
•
•
The accompanying notes are an integral part of this statement.
•
60
•
City of Denton, Texas
Mater and Sewer System Fund
STATEMENT OF CHANGES IN FINANCIAL POSITION
Years ended September 309 1918 and 1977 •
1978 1977
Sources of working capital
From operations
Net Income $ 512,908 $ 51945
Charge not reqquiring
working capital
Depreciation 557,236 5469301
•
Working capital provided
from operations 1,070,144 5529246
Contributions from customers
.and developers 142,476 989973 •
Federal grant receipts 97,069, 103,990
Ogcrease in, estricted assets
,Oet of l,ia sties payable
from restricted assets 1829625 -
issuance of revenue bonds - 500,000
Repayment of Investment in
•I
Motor Pool Fund 134,791
19492*314 1139U0000
A plk ations''of working capital
Additions to utility plant
1ht service 694,98`^ ;500,227
Reduction of long-term debt 365,000 355,000
Increase in restricted assets
net of liabilities payable 403 638
from restricted assets
~$b 1~
•
INCREASE IN WORKING CAPITAL 5329334 131,135
Vorking capital (deficit) at beginning
of year (19011.91 (1 I 5 l1l,432110)
)
Working capital (deficit) at end of year s (479,641) S (1,011,975) •
•
•
62
•
City of Denton, Texas `
Water and Sewer System Fund
STATE14ENT OF CHANGES M FINANCIAL POSITION (CONTINUED)
• Years ended September 30, 1978 and 1977
1978 1977
• Changes in components of working
capital
increase (decrease) in current
assets
Accounts receivable $ (951) $ (4,694)
Due from r,stricted and
other funds 290,917 143,813
Prepaid expenses 601 0, 6 1.11193 "o U
(Increase) decrease in current
• liabilities
Deficit position in pooled
cash 99,413 189,90
Accounts pays le (4,166) 1,.
Atcrued payro,l and vacation;
pay (69617) (26,056)
• Revenue bonds pa;table within
one year 69137 1 ,444
Due to other funds 146 520
INCREASE IN, WORKING CAPIUL $ 532,334 131,115
•
•
The accompanying notes are an integral part of this statement.
•
63
O
C1tyao'f DenW.'tek s
Water And Sewer System Fund
SYWMEhl' Of BUDGETED AND ACTUAL REVENUE
Year ended September 30, 1978 r
Actual
Revised prior
budget Actual yoar
WATER
Customer sales - ; 982
residential $ 1,200,000 a 1,230,076 431,
Customer sales - 909000 9079335 6340582 i
commercial 502000 68,640 479604
Pen its 48,000 709798 56,f,1°
int"agoVernmental 409000 68,871 48,4E~)
Tapping f(!es - water 000 1;691 788
Sale of scrap material 10' ,5,572
Miscellaneous income 11000 73p124 67,804
Interest 17,000 149719 10,089
Waf¢r'`,f0'r' resale 1_0_~.0~ 0 3090 23 561
Aid 1n'co~~struction 'x~~L~.0
,276,000' "2-;439 1 1►~t~+v53
SEWEg •
Cuspgmer,s 1es - 666,000 672;085'' 425,036
Mgd¢nt al
Cu r'sales -
c 62 0 5809593 3540556
q
s - sewer 1 ;0 0' 9,313 129802
Tap~ing~fcio3 'al Qq
Sewer extensions 2000 19414 14,822 ~
Intragoveenmental 81400 2,333
Sewer fees - other cities 149000 14,196 90882
_~141_ 2 11
Sewer fees - industrial water 23 000 .F,204.49§_
, 1. _
_..i_ =O'
$ 39616,000 306449066 20611,758
onummonamm"
Adjustments to commercial
basis
Contributions in aid of 92,688 98,973
construction 4 67,804)
Interest revenue
$ 39478,254 $ 205040981
1
64
•
Citv of Denton, Te as
Water and'S&er Sys"tei"'Fuhd
STATEMENT, Of APPROPRIATIONS AND EXPENDITURES,
EhCUMBRA,~ICES .AND TRANSFEIIS
•
Year ended September 30, 1978
i
Expenditures
• Expenditure;, and
Revised encumbrances encumbrances
appropriations and transfers -prior year
WATER PRODUCTION
Salaries and wages $ 188,107 $ 179,208 $ 158,048
•
Supplies 96,842 92,158 939651
Maintenance 189442 19,104 18,415
Production power 224,000 2529555 204058
Services 68,485 669880 51,944
Capital outlay 11,459 10,435 11;331
® Insurance 9' 49 2 9 442 - 7470 9,78 -145tO28
WATER DISTRIBUTION
AND METERING
Salaries and
wages 243,140 220,542 203,099+
0 $y pees :0,303 17,349 12•,042
Malot nonce 139.368 1289849 1260098
Sarvices 289242 27,612 11221472
gurldr 243 668
Cepitl outlay 114,900 1369143 73;16"
• Insurance 5 138 2 456 3091
f; 3 633,'67 069
SEWAGH kATMENT AND
DISPOSAL
Salaries and
• wages 205,142 193,987 171,0831`
Supplies 35,172 3'1',121 X0379
Maintenance 37,295 36,945 44;211
Pj'pduc~ion power 161,274 166,895 ' 136,891
si W tes 13,380 12,643 49575
Capital outlay 13,978 11,863 '8,395
Insurance 2 827 2,510' 2 242
4569969 416,544
•
•
65
P,
City.;of,4enton, Texas
Water and Sewer System Fund
STATEMENT OF APP %RIATION ANO EXPENOITURES
ENCUMBRANCES AND TRANSFERS (CONTINUED) •
Year ended September 30, 1978
Expenditures e
Expenditure;, and
Revised encumbrances encumbrances
appropriations anj transfers ~i2rior year
SEWAGE COLLECTION
Salaries and wages $ 204,508 175,949 5 1809$24
9. •
10 667 ,176
Supplies n
Maintenance 83,250 1 75;131 6610 3
259100 12,550 17,991
Services
Sundry 4,500 3,621
Capital outlay 580950 48,895 27,25C
Insurance 4 845 3,974 21)54
`-9,~.'~` 330,793 30F,~7M
.
PRO RATA SHARE OF
UTILITY ADMINIST4.A.- r
TION,EXPENDITURES
Salaries and •
wa e5 60,676 56,815 4d~ Q
Suppies 1,870 817 4
Maintenance 160,215 125
'10 44,874 4 ' 58
Services
51rn~ry 415 -
503 491
Wwrahce
Capital outlay 700 - 747
1269099
NONDEPARTMENTAL
EXPEVOITURES
Transfers to •
general Fund
rc .Administrative
252,624 16~;2
1796345
r services
Return on net
investment 180,404 1c0,000
Interelt and ,
redemption re-
quirement and
sundry 680,817 678,536 638,456
Bad debt expense 17 185 19 054 39 131
~-1' 929,910_ •
$ 312219463 S 3,1841565 $2,617,725
•I~
66
City 4{, Den.ton;,. Texas .
Water andevfer System Fund
STATEME14T OF TrRANSFEAS ( ECONTINUED)S~
• Year ended Seotember 30, 1978
Expenditures
Expenditures, and
• encumbrances encumbrances
and transfer, pr1o.
ADJUSTMENTS TO
• CQMMERCIAL BAS'S
Encumbrances
prior year 2,860 S' 20 b03
Debt service (678,536) (638456)
requirements '
„011,086}
Capitalized (3560174)
expenditures
Transfer to
General Fund -
return on net { 18(+,000 -
1 nyestment,
Encumbrances ,(2,8b0)
• f current Year ,
vacation pay 6,.155 8
accrual
`E1(PENSES 4 1,978,870 $ 1,7039904
•
•
v
•
• 61
•
~i ty,r Derltori, Texas
Intrago'4 entaI Service` Fu`ndi
iALA'NCE SHEETS
September 30, 1978 e
Total Wo:K,n9 Motor
ASSETS Memo Caoitai Pool
CURRENT ASSETS
Equity in pooled cash
(Note C) $ 292,818 $ - ; 29,918
Time deposits and 279501 27,501
accrued interest e 252 262
Accounts-.receivable 418,443 478,443
Inventories (Note A) 1500998 141,051'' - 9,947
Prepaid Due from inoSuratheriice funds 510 570 -
total current h'ssets 950,582 620,316 330,266
EQUIPMENT' (Note A) 2,192,461 63,197 IjI 28,670
Less,dccumulated I a344 91 24762 1 319 335
depreciation
$ 2,398,952 $ 659,351, ; 11139,601
e
e
The accompanying notes are an integral part of this statement.
•
68
t3
LIABILITIES, INVESTED
CAPITAL AND RETAINED Total Working Motor
Me
EARNINGS mo Capital Pool
r
CURRENT LIABILITIES
Deficit position in 9 362,022 $ 362,022 $ -
pooled cash (Note C)
Accounts payable, -
accrued payroll and 90,468 74,086 16,3K2
• vacation pay
Due to other funds'` 127 1? _
Total cl~ rrent 452,617 436,235 160382
liabilities'
• INVESTED CAPITAL
Investment by Electric 180,747 180,747 -
System Fund ;
Invest:rient by tinter ;4hd 1089975 1081915 i
Sei,w System Find
s Contributed assets.`
(General and Tcibl '1, ,038 268 1 038 268
Revenue Funds?? ,990 ` ~ VW IM
3`.
RET!~ INED EARNINGS
CCUMULATED , DEPICIT) 61 3. 66 b06) 684,951
• (R'
2,398.,952 $ 6591351 $ 1,739,601 ,
Y
•
69
•
City of Denton, Texas
Intragovernmental Service Fends
STATEMENTS OF OPERATIOIIS
Year ended September 30, 1978
Total Workin Motor !
~MemoCa ito Pool.
Charges to other funds $ 1,556,632 ; 11293,590 263,042
Less cost of material 168 47b,7
Beginning inventory 4169
Purchases 60,
1 60301519. 1 430 7 9 - •
-
111507 j7
Less ending inventory 1~478j44434 478 443
U028
5T,Y 9 r -165,042
Operating expenses 21G,187 21b,197
Salaries and wages
Supplies 13►480 1$j2? 0, 960.
Maintenance 691
Services 23783 23,18E'``;, •
Insurance and other j 47
Depreciation (}iota A) . 6`~ 99055 7 8 4
Operating income
(Loss) (4,721) (4121P) :(505)
•
OtherA ncome
Miscellaneous income 2,931 2,931
InWest _ 49739 - 41739
NET INCOME (LOSS) $ 2,949 $ (1,285) 4,234
Tht accompanying notes are an integral part of this statement.
!
20
•
City of-, Denton~,TExas,;: r;?
Intragoverrn6n tal..Service-funds
STATEMENTSAOFF CHANGES AINED1EARNINGSED CAPITAL
•
Year ended September 30, 1978
CHANGES IN 14VESUD CAPITAL
•
Total Working Motor
Memo Capital Pool _
• Invested capital at
October It 1911 $-1,2541600 $ 289,722 $ 974,878
Additional invested by 63,390
General Fund
• Invested capital at
September 30, 1978 S 1,327,990 $ 2899722 $ 1,038,268
00=00090A"COMM msww~ 0,MUMEMOM*
• CHANGES IN RETAINED EARNINGS
Total Working Motor
M mo _ Capital Pool
• Retained earnings
(accumulated deficit) at
October It 1977 $ 615,396 S (65,321) $ 680,717
Net income (loss) for the 2,949 __1,285) 4,234
year
•
Retained a-~ °nings
(accumulated deficit) at
September 30, 1978 $ 618,345 $ (66,606) $ 684,951
•
O
Th6 accompanying notes are an integral part of this statement.
•
71
•
City°of Dentoni-Texas,_,
Trost and,Agency Fund
PAYROLL-FUND
BALANCE SHEET'
September 30, 1978
ASSETS •
Cash $ 222,952
•
'LIABILITIES
FICA taxes payable 5 111,419
OthAr payables 45,413
S 2229952 •
•:el. 13,,r JJI,
rl
•
The accompanying notes are in integral part of this statement.
~(ti F. li5i St1 t!-( 't'iil [if Ll li, Vi1 {t I .'d' +,l ti 1!II~
72
•
City Of, peo0pr . Texas, , ;
STATEMENT OF GENERAL ,DEBT
September 30 ,1978 and 1977
•
1978 1977
• Amounts available and to be provided
for retirement of general debt
Available in General Debt Service $ 4,868 167,511
Fund I1 5 0,~6 160§.L483.
Future requirements
$ 119533,934 ; 12,024,000
General debt (No to D)
• General obligation bonds and 11,3690000 ~12~04,000
warrants payable
Certificates of obligation 126,000
payable
Ihstallmea bank note payable
11,533,934 $ 129024,000
• ...UIMMONCOM" UWWWOMMUNCOWN
•
e
•
The accompanying notes are integral part of this statement,
•
73
•
Citi`0f'Denton,:tetras
STATEMENT OF CHANGES 1N FUTURE REQUIREMENTS
Se,,tember 30, 1978 and 1977
1918 1977
$ 11,856,483 $ 9,304,562
Balance at beginning of year
General obligation bonds and
certificates of obligation 125,000 3,000+Q00
issued do Hna the year
Installment bank note obtained •
439276
during the year
Decrease in amount available
in General Debt Service 162449 1'x2,921
Fund
Bonds`,"Warrant4 and'nbtb OHr P&I 6 8342} 561 000)
retired during the year
Balance at end of year 4 qj 529,066 110856►4W
•
•
74
5 ~7 y..
lfte
City.;gf,,DQnton, Texas;;.:,,
STATEMENT OF CHANGES IN GENEgAi.. FIXED ASSETS
Yeav ended September 30, 1978
•
October 1, Not September-309
1977 Addition', 1978
• rENLRAL FIXED ASSETS
$ 2,5731459 $ 1 024,036 $ 3,597,495
BuiLandlding and land improvements 1,955,782 510,448 2940/230
.Weals 13,075,561 1,977,367 151052,934
E,avlpment.and other
n 23y,054 2,18,375
improvements 11948,321
construction work In, i
,0. 5 ..~..eQl.~. § 4f
process 3,738923.~9b,4~6
INVESTMENT;IN GENERAL,.
FIXED ASSETS
From proceeds of
general obligation
• bonds $ 14,974,312 $ 29141,925 $ 1,1t6,23~
Fran-current, c (~Ir a
revenues 1,802,765 227,748 2,00,51, ,
;Fromicontributions
, . 368,171_' 40 '
andlspecial revenues 1411
6,426
23,920,258,58? 5 3,737.eaa
$
I ! .r.: I V
• ° l ' 1 ~ Ir':'1, ,'i'~ r. r",r .'I ,.,li(~Ilr~j..Ii
r
1 If, `.jI iLi i`.1
Titre accgppa•, Ig noes, aan .lt tegr ti,~t~ ,1r,.Qf th(SE St rt 4~lti,, , , t r : r, ~ :
75
e
C1 ty' of `Oen tdns' 16as
NOIES'To Ft4ANC1AL SIM EMENTS
Septemt.-r 30, 1978 and 1977 e
A - SuKiARY OF ACCOUNTING POLICIES
The following is a summary of the significant accounting policies consistently •
applied in the preparation of the accompanying financial statements,
Bases of ccounting
The accrual basis of accounting ft folloWed by all funds other than budgetary
funds (Gen'•::1, Special Revenue, Gebt Service Funds anti Capital Pr6Jects); •
which util",% the modified. GGcrual basis-of accounting. The encumbrance method
or ace& S is use& f6'N-e1l funds for purposes of preparing and repoetinh on
the (:Jty,s budget; for external reporting, the encumbrance method of accounting
is not used ln'the Ent6rpris6 and Intrag6vetilm6tal Service Funds.
Inv entcries •
Inventories consist primarily of supplies and fuel and are valUdd'at MOvimg'y
average cost.
Accounts Receiyable_ °
includgd lp,accounts receivable in the Electric System Fund are amounts due i
for water'ahd,sewer se'rVices',provided by'the Wi ter and Sewer Fund and garbage
services provided by the General Fund. Utility receivables are,alllitarried1by
the Elk trio-tystem Fund`t6 facilitate'etc6unting and collection procedures:
Each fund records its own portion of the revenues and losses from these accounts. •
Revenues are recognized on the basis of monthly cycle billings to customers for
services provided. As a result of this cycle billing method, the City accrues
unbilled service at the end of any fiscal period with respect to service pro-
vided but not $1,630,000 hand date. $1,572$000 at amount September 1 30,receivables
1978 v and e 1977 re-
to spectively. approxima
spectively.
Fixed ssets
Utility plant in service of the Enterprise Funds and equipment of the Intra-
governmental Service Funds are recorded at cost or market value at date of con-
IN
cost provided
of e assets using to h operations straight-line over their d estimated
sufficient Depreciation
.ounts Vibution.
to i relate the been
an
useful lives.
During the year ended September 30, 19670 the net carrying value of the electric
system utility plant In earvice was increased by $4,851,498 to the appraised
replacement value less aElp^eclation as determined by independent consulting >r
engineers. The appraisa) jjcp Rt -'s pei gg amortized at an a nua,l rate of
f,
;283,168 and is chaeldd di~ddtl 'to (~nr~ ~11'feN i~icre+~fent irf ~r lisatlon, e
7b
City of Denton, Texas
NOTES TO FINANCIAL STATEMENTS.( CONTINUED)
September 30, 1978 and 1977
A - SUMMARY OF ACCOUNTING POLICIES (Continued)
component of the System Equity, and is not included in the annual depreciation
• expense. The recording of appraised values in excess of cost and the charging
of annual depreciation of $283,159 of such excess value directly to the System
Equity rather than to expense is not in 'conformity with generally accepted
accounting principles.
General fixed assets purchased are recorded as expenditures in the 'General,
• Special Revenue and Capital Projects Funds at time of purchase. Such assets
are capitalized at cost in the general fixed assets group of accounts. tiffs
or c-yntributions are recorded in general fixed assets at fa' r° market value at
the time received. No deprediation has been provided en general fixed assets:
P merty Tax Revenue
The City records revgnu$'fro propert taxes in the year in which'I; cash iS~
received. For purpose of dccourntabil yt',the City records delinjU6t`Otdperty
taxes receivable as ah a5;et, but offstets -these amounts with a related re'sdeve
fo, uncollected taxes.
• Revenue Sharing Revenue
It Is the City's policy to record ail payments from ons entitlement period wI th-
in one year to the extopt practicable, Durln 1977, the ending date o° the
entitlement period wa3 cM n4ed from'M e'30 t4 September 30. Consequently, the
final payment for the entitlement period ending September 30, 19770 which was
received in October 1917, was accrued resulting in five payments being recorded
in 1977. The four payments relating to the entitlement period ending September 301 1978,
were recorded as revenue in the fiscal year 1978.
• B - TRANSFER,OF EXCESS REVENUES FROM.THE UTILITY SYSTEM FUNDS TO THE GENERAL FUND
The City Chart 011ows`the'City to;make a disci*etichary-transfer.of "excess
5 3tr. s to the;General Fufnd in1an,aW6nt not to
revenu`ds''of a chr` f"the GtilitY3
exceed `six pe'rcerlt of'th'e' InetI i6Ttm nt' '(as both' terses have<been`defined by ,
the City Attgrnoy) in, the utilit system. In prior years the City has presented
I these ti"ahtfer`s as'a'dirept,reduttid'n"Of`retained'earnings~ in the°tltility Fund I
• in a manner similar toga dividend,, 'Hbr+O r';` ih'1978 the City changed its,mothod
of reporting these tr nsfers to conform, to a "Statement of Position" issued by
the AICPA State' arid L9cal'Government"'Acc*bhtipg' Coamittee in Septe+,,iber 1078,`
which recommended that such items be %cludt.' ',,F a' separate catagory after net
operating inoome,or los;,pn the Statement of Ll Itions. The City has restated
• its 1977 financial '9tateben'tis"to"'cohfoNh i4'ith'thit:*presentation.~.' This changes
has no effect on prW ously reported retained earning but does reduce, the net
Income transferred to retained earrings by the amount of the 'trahsfee 4140M :the
respective utility.
•
77
0
City of Denton, Texas
NOTES TO FINANCIAL'STATEMENTS (CONTINUED)
September 30, 1978 and 1917 •
C - EQUITY OR DEFICIT POSITION IN POOLED CASH
The operating cash of certain funds, as noted below, is pooled into one bank •
account not identified with any particular fund. The accounting records for
each fund reflect an equity or (deficit) position in the pooled cash at
September 30 as follows:
FUNO X1978 1_ g7L_~__
•
General :Fund $ 448,783 $ 399413
Electric.System Fund.
Operating account 11428,342 (35617,043)
Systems Extension and - 4,615,177
Improvement Fund •
Water and Sewer System Fund 7, 08 727,421
Operating account 3 2: 2Z 2$2 $0b
Working:Capital,Fund 2g 18~ 5925806
o4Justice,Grant~ 1,3
Criminal 9548)
Fund,. - 1,455}
Human Services Project Fund
Airport Improvement Grant Fund (139,792) - •
1
GrantCommunity FundDevelopment Block
y.
-
;:f ;6431 161,, a. 608,7153 ,
NNE
•
D - LONG-TERM DEBT
Water and Sewer-Sy stem Fund
As of September 30, 1978, the City had Water and Sewer revenue b6nds outstandinq' •
of M 230 400,, Thete~bonds,,whi%;K ar9 secured; by, fjrst liep.up9p thg "net
revenues", Of, the,Water, and Sewer, System, are 0441e apnually to iryir}~` 0041)
throw h1998 with interest payable,semiannuallyat rates.rangin9,rom 3.,tQ
The City has covenanted, in;.the,crdJna0ces,au.thori;In9,thes bonds; th4ii'.i witl •
establish certain funds, and-make t,eced,.tran4>er; as fol pw;:
1) All revenues i racei ved will .be., 01ps,i ted_ tnto a Revenue Fund.1,,fry
which all operating expenses will, .b@ paid.,
2) On the last day of, each month the; City W1 .,1, deposit Into: an ; shtR,rt;st •
and Sinking Fund" a pro, rata part of. ,the next matiaring interest and .
principal, payment
•
78
•
City.:of - Dentons ;Texas
NOTES TO FINANCIAL STATEMENTS.(CONTINUED)
September 30. 1978 and 1977
0 - LONG-TERM DEBT (Continued)
3) The City will maintain a "Reserve Fund", equal to at least the
• average annual principal and interest requirements on all bonds
outstanding, which will be used to pay debt service requirements
any time adequate money is not available in the "Interest and
Sinking Fund". In the event that, due to the issuance of new .
bonds, the fund is less than the average debt service's the City
will make equal monthly payments in an amount adequate to ac-
cumulate the required amount within five years after issuance
of the new debt.
If the CityyJails to make the above transfers. in any months the
first available.revenues of the _f411owing;months„are to,pe,yspd
Any amount! remaining in,the Revenue, Fund a.f.te.r providing fpr;the
• transfers'to-the-other. Funds may be used for any, legal;purpose.,
The City has also agreed that it will set rates adequate to produce net revenues"
of not less than: .1.43.,kimes: the,annua1. debt;seyy_ice merage.,jyr,V e . Up _~ity
will not issue, additiooal Water~.ahd Sewer),Revenu9 Bonds unless all;Lie apovQ ,
• noted funds contaih' the' amount ofi money; required to be therein ondnet,re,venups
are equal to at Least I 13, times: the Maximum debt service requirement after, the
issuance of the additional debt. s
Electric System Fund r,, t
e During March 1978, the City refunded its then outstanding Electric System pevenue
Bonds (Old Debt);, totaling ,516;902.000, girth 0 proceeds, frpm thy tssyaynce of
;Proceeds 690' ;h
$19,255,Og0 of, Electric System Refunding Bands. jNo4,D0ht).(.'
New Debt were used topurchase 'approximately 51 ,500,000 of govern., _secureties
and establish a $2,250,000 reserve and a,$250 IOQQ,c4ntin'ency fuio ,nor. @69 gw
Debt. Ti:e government securities, which mature on dates „4esigned to1411y provide
• for payment of the Old Debt, are held in a special escrow account by p ,trustee
and solely for the benefit of the holders of the Old Debt, thereby defeasing
their security:,intersst.on'the reverue$o f the Electric SY two •Thi1~ ye NnoI19
resulted in the f;ity recognizing .,het gaiiniof approximately ,OW wh ,qh t~a¢
been recognized its ~an extraordinary; terd ;in the State*'. of Ope~$4brations ,tn. t}ie ,
Electric System Fund r
The New Debt, which is secured by a first lien upon the 1net revenues, ,ojhf
sy3tem, consists of serial bonds which are due in varying amounts from 10
through 2008 and bear interest at rates ranging from 4.6% to
In the, ordi dances authorizing the A m ance of the Now De§t1 th City,has.,49reeq
• to establish various funds and make specified :transfers as fol~ow"',
1) The City will establish, from bond: proceeds, a'Rdseryg Nod" ,;4f,
$2,250,000 and a "Contingency Fund" of $250,000. The Reserve Fund
e
79
~ T
Ci ty'1 of `Deritbn -Tdkas
NOTES TO FINM CIAL STATEMENTS (CONTINUED)
September 30, 1978 and 1977 ~
D - LONG-TERM DEBT (Continued)
will be used solely for bond payments when the other funds are
not adequate and will be "increased if additional debt is issued.
The Contingency;Fund is to be'used solely to pay for unexpected
repairs or replacements of the System if no other Funds are
available or to pay bonds if other funds art not adequate. Re-
ductions in`these f;snds below the specified levels must be re-
placed in specified periods'by budgeted payments from the Pledged •
Revenue Fund as noted below.
2) All revnnug will be deposited into a "Revenue Fund" from which all
operating and fiaIntenance' exaenses'will be paid,,, Semiannually,,, the
l; tti~angfer"04' alt` air~il ble Yevenue into a Pledged Reirenue
City w'.
Fund," frb!n lrhich follbwing 'teahsfer3'Wi11' be'6ade'. After; makes •
ing these tr'ans'fers;'any:remaihing `amobnt may be' used for any' law
ful purpose. ,3) ''rhb'City ~r1~1' eike ~p`ebi~fi siab I, tt'rapr,sfers,O' esi ghe'd to : .'~ply tli- 1'e}~uit'id debt serVicepey e roduce a minlmuh► balance
of S7';51;000' b)+' 1985 lnto'd''k1978 Retirement' Fund." • The "Retire- •
dent"i'u6d "'Wich €is niai`ntiaihed 4y "a''vgttee',' will be used solely `
to make required debt service payments. "
4) The City will reimburse the Reserve and Contingency Funds 1or~any
reduc,ions in the funds below the required amounts.
5) `The' City Wi 1Vt4nsfer `an''aMOUne equal to, 8% of the Adjusted Gross t
Re`Yenhes",((defined,as GOoss ReV,enue Iass any cbsts incurred in supply«
irg' fuel t6 tlt City)"to an'",ImproV.e0ent Fund.,-This fund till be
used tQ pay fQN coit4 of system -improvements or, If no'dth0 'funds
a'r'e' available; 'for' 6~ traord"Sry Operating expenses or payment of •
the'New!D~bt.
The Cif 'haS `ai o' agrgedf amoriq otiier'thirsgs~ to set rates adequate Ito provide,, r,,:
"Pled ~dp@~enuE's'1'eq>lal td!Wleast L41times'-the payments to the Retirement €E r.
Fund. t~urther rib"'addditiorl3l debt may beAssued'an1dis the above noted Funds
contain the required amounts and Pledged Revenuers equal to 1.41times the.pay• _..1 •
ment to, h RQtirement Fund and the average annual debt service requirement on
1''d bti Y I a I t ,i, q ~r'~ ,
the adds 110a
General Long Term Debt
As oi'tdotem U rl 1g18i'the City`of dentOhese s bo dsrand warjantsnarerpayabteds •
and warrants outstahding of $11 369,,600.,`
annuall in v ryye gg amounts through 1997 from tax collections. Interest is pay-
able semianpueIiyIIt'rate5 ranging fray'°2:5x td 7.25%i ,i € €
•
80
•
C1 ty of.Denton, .T xas
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 1978 and 1977
•
D - LONG-TERM DEBT (Continued)
• The Certificates of Obligation issued in 1978, totaling $125,000, are due annually
from 1980 through 1990 and require interest payments at 5% semiannually. The
Certificates are to be paid from taxes levied to support the issue or from any
Net Revenues remaining from the City's Water and Sewer System after making pro-
visions for. all required payments under the Water, and Sewer" Revenue'Bonds.,
thoughlJune,l98~nk, from General Fund Revenues, in
• xpaymentsinstallment: s1~301i r
monthly ,
E - COMMITMENTS, AND CONTINGENCIES
The City, is curregtly, thg defendant ,1,n a suit ih,whj t<<t ie plaintiff h 46
quested that the Water and Sewer rate -i crea~g; adppgd y the tfty, Qu ciI b4
June 30, 1978 be declared illegal and t at am'ou~ts paid due to such he 6611 be
returned. The City believes that the ultimate resoluti.ggn6of the;suit,Vill got
have a significant effect upon the operations of the Water ana'S'04e SysteAr: -
• In addition to ,the, .l i tiyati9rt, dessri ed ;aboyq,, ,~he, di yA si one of four famed i
defendants in k prQuuct,tiabiIIty cafe, arising r, t deat~ of an; iimt l of ,
the Ci ty, djail , The aggregaiie, damages ,claimed; by„e p i tiff, fr alt: e,1? 44 nts
Ytie Cit ~ ~teVe
exceed the? City; s, in,surarrcg pgperoge, by, pprI4. 71 ly O,p000
that it•has,a nwnber, Or defenses,ova.0ab~e, and► .that,i~i;any case, the i;ity lid
• bi 1 i ty wi l l.. not exceed a, sis, i,nserp;re .coveragq.... r s„,. 1
4Y
Agreement With Texas Munioipal Power 6e6
During September 1976, the City, along with the cities of Bryan, Greenville and
Garland, Texas (collectively referred to as The Cities), entered into a Power
• Sales contract with the Texas Municipal Power Agency (Agency), a municie'el'Eor
poration and polici.tdl ,subdivl,aSRj, Qf,,the,Std~tQ.of ,Te~cas.
Under the. terms 'of, he,agreemm , t 4~,A9gncy,,,which a$, ~Ote"d thrdug9h z gtore,gt
ordinanCes,of The_C tie' and wh 5h ~ governed Sy a hoe of Die4dto.rS,cd~s sting,
of elghf.mem6arso tio,app4lh~d by,~t,~Otgo e,rnil~ `Ady, , f e, ch city, dgr et, 9
• construct or, amir'e.ele_ctric,generator,, RIants ,~o,~upply,eneyyy,gna ~QweC'
Cities for a peri,odrof ,not ; ess than 5 y,e},r~, ;The <<'itiss."h4V0 pgt@e tb`p ¢$8
all future power a.nd. energy, reqp irements in 4,gQ'i ,s. the dnk,gaherate0 ;"yrc th,¢it", ;
systems currently in,ex,is,tenc,q fropi tha Agee y-.at pr qs, ant, dd4"to'C'0_0r~„(~ ttt~ .
i uhr, d ~y. tj@,..
operating, costs of, the,systenl.ap¢~,~~ti), th,e jJa i ,emegt,o ,,dq de It
Agency. In,the.eveni;that,i'evenuq a 9, ins fnerrt t¢.coYe, li,~ott.}hQ ileti;
t f+ ~~a guaranteed a ~brt ~n Of,t Oaf
vu is to ndi nq debt, each of The ides
• .
ufi
debt based, generally, upon its pro rata share of the energy delivdred''A ConserS"'
in the trior operating year. As of September 30, 1978, the City's guaranteed per-
centage is approximately 21%. At such time as all of the outstanding debt of the
•
61
City of'dlint6hl, Texas
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 1978 and 1977
E - COMMITMENTS AND CONTINGENCIES (Continued)
Agency is retired and the Agency is dissolved, each City will be entitled to an
undivided interest In the property based upon its pro rata share of total pay-
ments.
As of September 30, 1918, the Agency has' issued $300;0^0,000 of bonds for the
construction-61 a''lig`nite 661-fueled'generating plant which is expected to
be operational in,198?.,and, for tt~e purchase of a percentage ownership of a
nuclear `¢6wered generating' facility:' It' is'ahtl6pated' that Vie t6til ~ Ott for
the acquisition of these facilities and the building'of relaters tiahtmission
facilities will be in excess of $1.1 Billion.
Prior to the period that the Agency becomes operational-,;each City hr's1gtee'd
to pay a pro rata $weof thg,Agency`s general and administrative expenses..
Amounts id to the, fflWiC . Fdr ,these''ex0eAOs ambhnt6d to appr6kIMately ;110,000
and $130► 0 du1^i g` 1`918 hd 1971, e6peZtiVely
♦
Accruedaa'h,'aridSick L'ea~le` '
b and
(Q ~
ThekCietyv 11i hbt'i , 11e" vacation plated Vachti6hytime
dZ ,!it to,
will, be phi, . to e it 2 26016+ee.. Oind~ally,Isick;in leave theemplois' hot "y of ¢aid the Cit Jpoi► term- '
tioh„bit Wil paid onlV 6o- ilrlness whi ley Pur
sua6t ,(o'geherall~+ accepted aC6oanting p ,itStip a 'd4nouhts paid fore vacaLidn
and sick ¢a,y are expensedwh6n 'O'aid'6kcedt for' entei;prise and ihteagbverntiehtal
service funds where vacation pay is accrUdd.' The'dollar amoUh't`ofPunused)and "
unaccrued vacation and sick leave at current pay, rates totaled approximately
$205,000 and $1,105,000, respectively, at September 30, 1978.
F - LONE STAR GAS
During September 1977, the C1ty'ehltered'irito a'`new gbs sales c6tract1with Lone
Star, •Ga,sCompany,~kone`Sfar) which provides for gas through 1981. The contract
requ~ s 164.t ' hat th,4"Oty ost{mate t'ts' futUr6,u'se' l provides pendltt,es! if:acdtual
usage '11S . than 75 "of 'Ehe.'estimate. fh'e City; al'sd'~e§reed td Yle toactively
pay the A'60eas$4 e' ;Pkif ed`In t e n contract for all gatleceived sub;
sequen 'Abb,Apri g; Thi Co'ntfacti re01ae~d a rAVid~lf cddttAdt;with'.
009, grins uhder' whi'th thP` iffy"h1ad paid app'roxirft'ate1y;308,000 of tako or l
pay de 141ehciiil., ConGur'rentl with"lil 1h' _W,heW`4assale; contoacti{Lone,'
StaN a~reeQ ; r~efur~d `~i~ 1 'p Ohis made 'ynd r th'S takes or 0iy 1provisidns `of' tho
old,.ognt*t"addlhe ty tui~n,h a~rLdd•tld refuhdtto custbMes'that,portidol
of the,, Wet~0 Q►Isly p, isQda ~~~h0dugh:;' N6l,take "o,i~,pali deficiency is''
antics
s jr
82
•
City of Denton, Texas
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 309 1978 and 1977
•
G - PENSION PLANS
• The City participates in a pension plan sponsored by the Texas Municipal
Retirement System. The plan is a contributory plan, covering substantially
all City employees except firemen.
The City's policy is to fund pension costs accrued.~ The actuarially computed
value of vested benefits of the plan as of December 319 19771 did not exceed
assets of the fund. Total pension expense, whi6 includes amortization of
• prior service costs over 20 years, for the year ended September 309 was as
follows:
1978 1917
• General Fund $!130,000, $ 103,000
Electric Fund 529000 449000
Water and Sewer Fund 29,000 260000
Working Capital Fund 81000 72000
$ 219,000 $ 1809000
The firemen are covered under the Firemen's Relief and Retirement Plan of the
City. The plan is a contributory plan, with the City's portion totaling ap-
proximately S44,500 and $28,300 during 1978 and 1977, It is the City's policy
to fund pension costs accrued which include amortization of prior service costs
• over 30 years. The actuarially c(Anputed value of vested benefits of the plan
as of December 31, 1977 did not rxceed the assets of the fund.
•
•
•
83
THIS,PAGE_LEFT BLANK INTENTIONALLY
r ,
as "a! , h r`r
1
•
64
r
f
SUPPLEMENTAL Ir{FORMATION
.r "r~ a ~ .
r -
a r 1 r ' E,85
•
city of Denton, Texas
BONDS PAYABLE - ALL FUNDS
Year ended September 30, 1978
Original Percent
Issue Final amount Interest •
date maturit of issue rates
GENERAL OBLIGATION DEBT
1960 Street
improvement 7-15-60 7-15-85 $ 600,000 3.50 to 3.85 •
1962 Street
Improvement 3-15-62 3-15-87 500,000 2.75 to 3.20
1963 General
Obligation 3-15-63 3-15-88 500,000 2.50 to 3.25
1964 General
Jbligation 7-15-64 y15-82 800,000 3.00 to 3.20 •
1964 Park
Improvement 7-15-64 7-15-82 200,000 3,00 to 3.20
1966 Airport
Improvement
Warrants 12-01-66 12-01-81 113,500 4.50
1966 General
obligation 1-15-66 1-15-86 I,0009000 3.30 to 5.00
1967 General
Obligation 11-15-67 5-15-89 600,000 4.25
1968 General
obligation 2-01.68 2-01-88 1400,000 4,00 to 5.00
1969 General •
Obligation 4-15-69 4-15-69 1,285,000 4,60 to 6.50
1970 General
Obligation 9-15-70 3-15-91 1,0009000 5.70 to 7.00
1974 Street
Improvement
Bonds 7-15-74 7-15-94 10800,000 5.25 to 7.25 •
1974 General
Obligation 7-15-75 7-15-94 985,000 5.25 to 7.25
1976 General
Obligation 4-15-76 7-15-96 2,5009000 4.50 to 6.50
1977 General
Obligation 6-01-77 6-01-97 3,000,000 4.00 to 6.00 •
1978 Certificates
of Obligation 3-01-78 3-01-90 125,000 5.50
1978 Installment
bank note 7-01-78 6-10-81 43,276 5.50
•
86
•
•
Maturities in
Changes - year ended September 30, 1978 year ending
October 1, September 30, September 301979
• 1971 issued Retired 1978 Pr nci a Interest
$ 2000000 $ - $ 25,000 $ 175,000 $ 25,000 $ 61738
•
200,000 - 20,000 180'1000 20,000 6;373
220,OQ0 - 205000 2001000 20,000 6,040
2900040 - 65,000 2250000 609000 7,143
70,044 - 10,000 600000 15,000 1005
t
491000 - 101000 399000 10,000 1,1530
540,000 - 60,000 4805000 60,000 15,484
3609000 - 30,000 330,000 30,000 , 141025'
575,000. 500000 5251000 50,000 21_,~226 ,
• 805,0 60;i30p7451000 60,000 3T;495
-
700.Q00 50,000'. b50,000 501400 ,35,481
196501600 750'000 1,575;000 75,000 087
865,000 - 551000 810,000 559010 45,250
2,500,000 - 1259000 2,375,000 125,CJ0 123,750
• 30000,000 - - 3,0009000 1500000 154,700
1259000 125,000 - 10,313
43,276 3,342 39,934 13L833 1,851
• $ 12,0249000 S 168,276 $ 658,342 5 119533,934 $ 818,833 $ 577,400
•
87
0
City of Denton, exas
BONDS PAYABLE - ALL FUNDS (CONTINUED)
Year ended September 30, 1978
Original Percent
Issue Final amount Interest
date maturity of issue rates
ELECTRIC SYSTEM
REVENUE BONDS
1954 11-01-54 11-01-84 $4,287,000 2.75 to 2.90
1955 5-01-55 11-01-85 1,350,000 2.75 to 2.90
1955-8 11-01-55 .1-01-85 11387,000 3.00
1961 1-01.61 11-01-90 5,200,00 3.75 to 5.50
1965 1-41-65 11-01-84` 4,000,000 .50 to 5.dd
J908 2701-68 11-01-88 190000000 4.00 to 5.00
1970 9-61'40 11-0145 39500,000 4.50 to 6.60 f
1:119,72 5*,41-72 11-01-,97 6,0009000 4.00 to 6.,00
1974 7-01-74 11-01= 8 10500,000 5.00 to 7.
1978 3-15-78 12-01-07 '9,255,000 4.6G to 5.85
WATER MQ SEWER
SYSTEM REVENUE
BONO. ;
1960 T-15-60 7-15-90 19700,000 4.00 to 4.25
.1962 1n15-62 7:114,0 , 190009000 3.00 to 3.q,5 q
1964 '1-15-64 71 -84 2500000 3.00 to 3.40
,,196,6 1.,4 766 7-1 !06 1,000,000 3.30 to 4.,50
1969 4-1 -69 7.1 -89 19060,000 4.00 to 6.50"
19972 9-15-72 7-15-993 11500,060 4.00 to 6.00
;.1 4 I9~7 6-15=~~ 7-1512` 2 500,000 4. 0 to 6.50'`
c
r,
88
•
•
Maturites in
• Changes - year ended Se tember 30 1918 year endings
cto er 1, +^tem er Se~t_em_ber 30, 1979
1977 Issued Retired 1978 cipa _ Interest
$ 1,560,000 $ $ 1,513,000 $ $ $
M 513,000 553,000 .
553,000
4,170,000 4,170,000 -
- -
1,4009000 - 1,400,000 - - -
- -
600,000 - 600,000
2,66G,000 ~O t1;b0 00
'
• 5,040,000 - "
1,450,000 - 1,45LI,000 - -
19,255,000 _ 19,255,000 _ 1,254,890
170946,000 $ 19,255,000 $ 179946,000 $ 19,255,000 ; - ; 1,254,890
190759000 $ ; 65,00^ $ 1,010,000 $ 65,000 $ 40,400
590,000 - 35,000 5559000 40,000 18,823
• 709000 - 109000 60,000 10,c00 21010
4509000 _ 500000 4009000 509000 13,900
670,000 - 60,000 610,000 600000 30,910
113309000 - 60,000 1,210,000 659000 64,500
199000000 - 75,000 10825,000 75,000 110,42
• 500,000 500,000 - 259400
$ 69585,000 $ - $ 355,000 $ 59230,00: $ 3659000 $ 3069368
i
,v„o~ ~ s~e°a°e ssm~sam aafof+~ s+esssiaer ~
•
89
•
•
•
THIS PAGE LEFT BLANK INTOTIONALLY •
r
•
•
90
•
•
•
STATISTICAL'6ATA
•
•
e
•
•
91
•
City of Denton, Texas
ASSESSED VALUATION AND TAX ASSESSED
(Unaudited)
Year ended Assessed valuation
September Rear Persona.
ro ert fro art Total Tax assessed •
30j_P_ -Y
1969 $52,065,360 $14,934,931 $ 679000,291 $1,005,004
1970 55,417,090 15,658,946 71,0765036 1,066,141
1971 60,539,722 16,406,918 76,946,640 1,154,199
1972 66,230,863 169901,390 83,132,253 1,413,248 •
1973 76,671409,,409280 1 199, ,
1974 82, 560 102,222,840 10737,788
,813
1975 89,8831677 22,275,049 112,158,726 1.906,698
1976 951735,078 28,592,085 1249327,163 2sl.139561
2,430,423
1977 98,863,846 37,676,779
1978 213,135,760 584203,469,., 271;339,229 39364,606
•
TAX RATES
The constitutional and statutory tax rate limits including debt serve
ice, is $2.50 on each $100.00 of assessed valuation. or the year ended
September 30, 1978, the City of Denton's tax rate is $1.24 on each $100.00
of assessed valuation. The assessed valuation is 60% of true estimated value.
TAX DUE DATES AND PENALTIES
Taxes are due on October 1 and become delinquent on February 1. Taxes •
may be paid in two installments, one-half by December 31 and the balance 5 fore
March 31. Penalties due on delinquent taxes accrue; Febrjary 2%, April accrues % at a the M rate S of 1/2~ Interest per month. delinuent taxes in
discount is allowednfor early penalties
a pay-
ment. A
1
92
0
City of Denton, Texas'
TAX ASSESSMENT AND COLLECTIONS
(Unaudited)
•
Percentage
Collection of of levy
Year ended Totfl current year's collected
Se tem er 30 assessment* taxes during year during year
•
1969 $10005,004 $ 930,679 92.60
1970 1,057,259 994,426 KID
1971 191359935 1,0881047 95:78
1972 1,4090244 11349,462 95.76
1973 19613,260 19543,185 95.65
• 1974 11731,452 19671,916 96.56
1975 1,9000006 1,8131816 95':46'
1976 2,1071819 2,002,428 95.00
X977 2,4189166 293029758 95.23
1978 3,334,341 39130,697 93.90
*Tdtal tax levy' figures are adjusted1t0 ed floct adjustments approved by
the City Council.
•
N??
1
•
•
93
City of Denton, Texas •
INSURANCE IN FORCE
September 30, 1978
(Unaudited) •
Expiration
Insurance Company _Premium Policy no. Date
Allied Insurance Company $ 47,752.33 SFC 26 40 46 10-01-79
•
American Indemnity Company
Jack McFarling Insurance 309.00 BSC 2202862 12-18-81
Atlantic Insurance Company •
Benton Insurance Center 20.00 00 38 88 12-31-79
Employers Casualty Company 27,916.00 CGL-A-558475 ¢1-01-79
26,788.00 CAF-C-5?447,8; 91-Q1-79
TML - Texas Employers
Insura;ice Company 96,687.80 TML-A-0103 07-01-80
•
Fidelity S Casualty Company
of New York - Denton
Insurance Center 19715.00 IMH 18 32 90 11-01-81
•
Fidelity b Casualty Company
of New York - Denton
Insurance Center 754.00 PG 2 45 45 00 02-24-79
Fidelity G Casualty Company
of New York - Denton
Insurance Center 271.00 PG 2 45 44 95 01-23-81
Fidelity b Casualty Company
of New York - Denton
Insurance Center 21216.00 9N0 1991826
•
The Hartford Steam Boiler 860170.00 HN73-14278.00 01-01-80
•
~a
•
• Amornt or
Coverage limit
Fire and extended coverage on utility systems, $ 4000680001
buildings and contents, and newly acquired 90% colAsurance
• buildings and their contents
Robbery inside premises 10,000
Robbery outside premises 1,500
• Diesel Fuel Bond 500
Public liability: General:
Bodily injury 300,000
Property damage 501000 V5910900 AuBodilylinjury 1000000 &1 00,00
;_Praperty damage
Workman's Compensation As stated in WC law
•
Utility accounts receivable - destruction
of records 21400,000
•
Comprehensive - discount glass policy Total loss
•
Comprehensive - discount glass policy Library Total loss
•
Faithful performance bond; City Manager 100,000
Director of Finance 100,000
Assistant City Manager 100,000
Each Employee 2+500
• General boiler and machinery 100000000
•
95
•
City of Denton, Texas
INSURANCE IN FORCE (CONTINUED)
September 301 1978
(Unaudited)
Expiration
Premium Po11cy no. Date
Insurance Company. _
Blue Cross - Blue Shield $ 176,964.73 10-01-18 •
St. Paul Fire b Marine In-
surance Company - Denton 50.00 400 CR 8730 9-18-79
Insurance Center
•
Jnited States Fire insurance 441.00 SR0083015941 1-15-79
Company
500.011 FGL 03652 6-02-79
Northfield iftsUr'An`Ce Company •
SE 13213 6-02-79
Industr'61 deneral Agrncy, Inc. 19100.00
Guaranty National Insurance 775.00 GLA 0030348 2-02-79 •
Company
t
•
I 1
96
e
•
Amount or
Coverage limit
Group Accident Sickness and Life coverage
on all full-time employees
•
Faithful performance bond - Tax Assessor 100000
•
Group Accident SkVr,zss 'add Life coverage
on all Police Reserve
Ambulance - excess third party 200,000 & 100,000
•
Ambulance - excess liability 500000 & 110001000
300,000 b 500,000
e Ambulance 'professional liability 100',OOb a 300i000
, a
t
•
r
•
97
•
City of Denton, Texas
MISCELLANEOUS STATISTICAL DATA
September 30, 1978
(Unaudited)
STATISTICAL DATA ♦
AS OF SEPTEMBER 30, 1978
Area of City 33.2 square miles •
Date of Incorporation September 26, 1866
Total City Employees 559
(including seasonal employees)
•
1974
Estimatpdpopulation_ ;i $ ,43,509
Tax rate - per $100 valuation 1.70
Assessed valuation $ 102,222,840
Electric production (kwh) 548,581910r
•
Water production (11000 gallons pumped) 29490,026
Electric customers 130023
Water customers 11,363
♦
General Fund revenue $ 4,480,056
General Fund expenditures $ 4,219,859
•
•
9B
r
•
•
•
•
•
1975 .19 76 _ 1977 1978
46,800 47,900 51,500
43,700
1.78 1.24
1,70 1.70
$ 117,158,726 $ 124+327,163 S 136,540,625 S 271,339,229
51292379100 524,0419400 191,115,600 322,6999080
0 2,633,943 2,655,687 3,000,770 3,069,238
13,986 14,620 16023
13,289
11,591 129013 12027 129787
•
$ 4,9049169 $ 5,269,098 $ 69194,651 $ 1,982,14
$ 4,804,176 $ 59580,779 $ 69131,801 $ 7,798,055
•
•
99