1989 Annual Financial Reporta
Wichita
TEXAS
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for Year Ended September 30, 1989
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1989
RECEIVED IN
CITY CLERK'S OFFICE
Date
By �/�� Time
PREPARED BY:
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On the Cover:
One of the most beautiful areas in the City of Wichita Falls
is Lucy Park. The park is approximately 168 acres and features
six miles of paved trails entwined with more rustic trail areas
such as the one depicted by the illustration on the cover. The
trails are used extensively for walking, bicycle riding, and
skating.
Other special items in the park are a municipal swimming
pool, a Log Cabin built to commemorate the City's Centennial
Anniversary, covered pavilions and a children's playground.
The park lies adjacent to the Wichita River and can be seen
from I-44 traveling south. It takes only a quick turn onto the
Seymour Highway for visitors to the City to enjoy one of the
prettiest municipal parks in the State of Texas.
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1989
TABLE OF CONTENTS
INTRODUCTORY SECTION
Exhibit Page
Letter of Transmittal i-ix
GFOA Certificate of Achievement x
organizational chart xi
List of Principal officials xii
FINANCIAL SECTION
Independent Auditor's Report
1-2
GENERAL PURPOSE FINANCIAL STATEMENTS:
Combined Balance Sheet - All Fund Types and Account Groups
A-1
3-4
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types and
Expendable Trust Funds
A-2
5
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual - General, special
Revenue, and Debt Service Funds
A-3
6
Combined Statement of Revenues, Expenses and Changes in
Retained Earnings - All Proprietary Fund Types
A-4
7
Combined Statement of Changes in Financial Position -
All Proprietary Fund Types
A-5
8
Notes to the Financial Statements
9-39
REQUIRED SUPPLEMENTARY INFORMATION:
Defined Contribution Pension Plan - Analysis of Funding
Progress - Last Ten Plan Years
B-1
40
Defined Contribution Pension Plan - Revenues by source
and Expenses by Type - Last Ten Plan Years
B-2
41
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS:
General Fund:
Comparative Balance Sheet
C-1
42
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
C-2
43-46
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1989
TABLE OF CONTENTS (CONT'D.)
Exhibit Paqe
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONT'D.):
Special Revenue Funds:
Combining Balance Sheet
D--1
47
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
D--2
48
Revenue sharing Fund:
comparative Balance Sheet
D--3
49
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D--4
50
Civic/Community Promotion Fund:
Comparative Balance Sheet
D--5
51
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D--6
52
Hotel/Motel Tax Fund:
Comparative Balance Sheet
D--7
53
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D--8
54
Community Development Block Grant Fund:
Comparative Balance Sheet
D--9
55
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D-10
56
Special Revenue Fund:
Comparative Balance Sheet
D-11
57
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D-12
58
Section 8 Housing Fund:
Comparative Balance Sheet
D-13
59
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D-14
60
Rental Rehabilitation Program Fund:
Comparative Balance Sheet
D-15
61
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D-16
62
Debt Service Fund:
Comparative Balance Sheet
E-1
63
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
E-2
64
Capital Projects Funds:
Combining Balance Sheet
F-1
65
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance
F-2
66
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1989
TABLE OF CONTENTS (CONT'D.)
Exhibit Paqe
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONT'D.):
Enterprise Funds:
combining Balance Sheet G-1 67-68
combining Statement of Revenues, Expenses and
changes in Retained Earnings G-2 69
combining Statement of changes in Financial Position G-3 70
Internal Service Fund:
Comparative Balance Sheet H-1 71
Statement of Revenues, Expenses and Changes
in Retained Earnings H-2 72
Statement of Changes in Financial Position H-3 73
Trust and Agency Funds:
Combining Balance Sheet I-1 74
Expendable Trust Funds - Combining Statement
of Revenues, Expenditures and Changes in
Fund Balance I-2 75
Agency Funds - Combining Statement of Changes
in Assets and Liabilities I-3 76-78
SUPPORTING SCHEDULES:
combined Schedule of
Bonded Debt and Interest Maturities
J--1
79
Combined Schedule of
Bonds Payable
J--2
80-81
Debt Service coverage
- Revenue Bonds
J--3
82
General Fixed Assets
- Comparative Schedule of
General Fixed Assets
- By Sources
J--4
83
General Fixed Assets
- Schedule of Changes in
General Fixed Assets
- By Sources
J--5
84
General Fixed Assets
- Schedule of General
Fixed Assets - By Function
and Activity
J--6
85
General Fixed Assets
- Schedule of Changes in
General Fixed Assets
- By Function and Activity
J--7
86
Airport Fund - Plant,
Equipment and Depreciation
J--8
87
Transit Fund - Plant,
Equipment and Depreciation
J--9
88
Sanitation Fund - Plant,
Equipment and Depreciation
J-10
89
Water and Sewer Fund
- Plant, Equipment and Depreciation
J-11
90
Internal Service Fund
- Plant, Equipment and Depreciation
J-12
91
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1989
TABLE OF CONTENTS (CONT'D.)
Exhibit
Paqe
STATISTICAL SECTION (UNAUDITED)
General Governmental Expenditures by Function (General Fund
Only) - Last Ten Fiscal Years
K--1
92
General Governmental Revenues by Source (General Fund Only) -
Last Ten Fiscal Years
K--2
93
Property Tax Levies and Collections - Last Ten Fiscal Years
K--3
94
Assessed and Estimated Actual Value of Taxable Property -
Last Ten Fiscal Years
K--4
95
Property Tax Rates and Tax Levies - All overlapping
Governments - Last Ten Fiscal Years
K--5
96
Ten Largest Taxpayers
K--6
97
Special Assessment collections (Capital Improvement
Assessments Fund) - Last Ten Fiscal Years
K--7
98
computation of Legal Debt Margin
K--8
99
Ratio of Net General Bonded Debt to Assessed Value and
Net General Bonded Debt Per Capita - Last Ten Fiscal Years
K--9
100
Ratio of Annual Debt service Expenditures for General
Bonded Debt to Total General Expenditures -
Last Ten Fiscal Years
K-10
101
Computation of Direct and Overlapping Debt
K-11
102
Revenue Bond Coverage - Water and Sewer Revenue Bonds -
Last Ten Fiscal Years
K-12
103
Demographic Statistics - Last Ten Fiscal Years
K-13
104
Property value, Building Permits and Bank Deposits -
Last Ten Fiscal Years
K-14
105
Miscellaneous Statistical Data
K-15
106
schedule of Insurance Coverage
K-16
107-110
Graphics:
Cash and Short -Term Investments
L--1
111
Total Bonds Payable
L--2
112
General obligation Bonds Payable
L--3
113
Revenue Bonds Payable
L--4
114
Total Fund Equity
L--5
115
Comparison of Tax Levy and Tax collections
L--6
116
Analysis of Revenues By Source
L--7
117
Analysis of Expenditures By Function
L--8
118
General Governmental Revenues (General Fund Only) -
Last Ten Fiscal Years
L--9
119
General Governmental Expenditures (General Fund
Only) - Last Ten Fiscal Years
L-10
120
INTRODUCTORY SECTION
Wich1ta�MMS
,_ X .
SXUL
February 15, 1990
The Honorable Mayor and Members
of the City Council
James Berzina, City Manager
City of Wichita Falls, Texas
The Comprehensive Annual Financial Report of the City of Wichita
Falls, Texas, for the year ended September 30, 1989, is submitted
herewith. Local governmental accounting principles are primarily
promulgated by the Governmental Accounting Standards Board (GASB).
These principles have been adhered to in the preparation of this
report. The Notes to the Financial Statements presented with the
General Purpose Financial Statements section are an integral part of
this comprehensive annual financial report and should be read for a
fuller understanding of the statements and information presented
within.
Responsibility for both the accuracy of the presented data and the
completeness and fairness of the presentation, including all
disclosures, rests with the City. We believe the data, as presented
is accurate in all material aspects; that it is presented in a manner
designed to fairly set forth the financial position and results of
operation of the City as measured by the financial activity of its
various funds; and that all disclosures necessary to enable the
reader to gain understanding of the City's financial activity have
been included.
The Comprehensive Annual Financial Report of the City of Wichita
Falls, Texas, is reported in three sections; introductory, financial
and statistical. The introductory section includes this transmittal
letter, the government's organizational chart and a list of principal
officials. The financial section includes the General Purpose
Financial Statements and the combining and individual fund and account
group financial statements and schedules, as well as the auditor's
report on the financial statements and schedules. The statistical
section includes selected financial and demographic information,
generally presented on a multi -year basis. This report includes all
funds and account groups of the City.
1300 7th Street P.O. Box 1431 817/761-7611 Wichita Falls, Texas 76307
The City provides the full range of basic services contemplated by
charter on a continuing basis. These basic services include public
safety (police, fire and building inspection), highways and streets,
health and welfare services, culture -recreation, public improvements,
planning and zoning and general administration services. In addition,
the City provides water and sewer services for its citizens.
In accordance with NCGA Statement 3, which addresses the issue of
defining the reporting entity with respect to other agencies,
institutions, commissions, public authorities, or other governmental
organizations for inclusion in the reporting entity's general purpose
financial statements, four organizations were evaluated. They were
the Employee Benefit Trust Fund, Firemen's Relief and Retirement
Board, Housing Authority of the City of Wichita Falls, and the Wichita
County/City Hospital Board. Only the Employee Benefit Trust Fund met
the criteria used to evaluate each organization and is included in
these financial statements. The other three did not meet the criteria
of financial interdependency and therefore were not included in this
report. These organizations have substantial autonomy and separate
governmental entity characteristics and are governed by separate
boards. However, they are not funded by the City. The City is not
obligated to finance any deficits they may incur and the City does not
guarantee their indebtedness.
ECONOMIC CONDITION AND OUTLOOK
The City of Wichita Falls is located in North Central Texas,
approximately 130 miles northwest of the Dallas - Fort Worth
metropolitan area and 145 miles southwest of Oklahoma City. The City
of Wichita Falls is the county seat of Wichita County and was
incorporated in 1889. There are 50 square miles of land in the City's
boundary. Wichita Falls is the largest city within a 100-mile radius
and, therefore, a trade center for a 22-county area in southern
Oklahoma and north Texas. Retail trade includes building materials,
general merchandise, food stores, automotive, clothing, home
furnishings, restaurants, drug stores, liquor stores, and
miscellaneous retail. Wichita Falls is also a regional medical center
primarily serving a 16-county area. Approximately 240 physicians
practice in this area, and there are 19 general and specialized
clinics in Wichita Falls. The community has a 5.7% unemployment rate
compared to a state rate of 6.3% as of September 30, 1989.
MAJOR INITIATIVES
For The Year. The City of Wichita Falls has identified programs to
meet citizens requests for services and to safeguard the environment,
in conformity with applicable federal and state standards. Some of
these programs include a study of the need for a new library and the
initiation of work on the Holliday Creek channel expansion.
ii
Major Initiatives, Continued.
For the Future. The City was notified on October 18, 1989 that the
final commitment has been made by the Texas Water Development Board
for financial assistance in the amount of $21,350,000 from the State
Water Pollution Control Revolving Fund. This will be evidenced by the
Board's purchase of $21,350,000 City of Wichita Falls Water and Sewer
System Subordinate Lien Revenue bonds, maturing September 1, 1993
through 2012. The proceeds from this loan will be used for sewer
treatment plant renovation and expansion of the installation of a
large capacity sewage collection interceptor line.
The City currently is evaluating opportunities for rehabilitation and
economic development concepts that will enhance the financial
viability of the City in the future.
FINANCIAL INFORMATION
In developing and evaluating the City's accounting system,
consideration is given to the adequacy of internal accounting controls
as deemed appropriate by the City Manager. Internal accounting
controls are designed to provide reasonable, but not absolute,
assurance regarding: (1) the safeguarding of assets against loss from
unauthorized use or disposition; and (2) the reliability of financial
records for preparing financial statements and maintaining
accountability for assets. The concept of reasonable assurance
recognizing that: (1) the cost of a control should not exceed the
benefits likely to be derived; and (2) the evaluation of costs and
benefits requires estimates and judgments by the City Manager.
All internal control evaluations occur within the above framework.
The City believes that its internal accounting controls adequately
safeguards assets and provide reasonable assurance of proper recording
of financial transactions.
Budgetary control is maintained at the class level within each
division by the encumbrance of estimated purchase amounts prior to the
release of purchase orders to vendors. Purchase orders which result
in an overrun of class level balances are not released until
additional appropriations are made available. Open encumbrances are
reported as reservations of fund balance at September 30, 1989.
GOVERNMENTAL FUND TYPES, General Fund. Revenues in General Fund
totaled $27,961,067 in the 1988-89 fiscal year, an increase of 3.4%
from the 1987-88 fiscal year. The increase is due to an increase in
the sales tax and interest income. General property taxes produced
46.25% of general revenues compared to 47.08% in 1987-88 and 48.61% in
1986-87.
iii
Governmental Fund Types, Continued.
Increase
(Decrease)
Percent Over Prior
Revenue Source Amount of Total Year
Taxes
$23,035,386
82.39%
$ 839,668
Charges for service
1,261,555
4.51
( 34,074)
Licenses and permits
440,857
1.58
(158,058)
Fines
834,328
2.98
(51,477)
Intergovernmental revenue
791,383
2.83
87,196
Miscellaneous revenue
1.597.558
5.71
251,405
Totals
$27,961,067
100.00%
$ 934,660
Assessed valuation was $2,299,242,866 based on 100% of market value.
Current tax collections were 96.31% on the tax levy, down .18% from
last year. The ratio of total collections (current and delinquent) to
the current tax levy was 98.95%. Allocation of the property tax levy
by purpose for the year ended September 30, 1989, and the preceding
two fiscal years was as follows:
Purposes
General Government
Debt Service Fund
1988-89
$12,413,867
2,255,081
1987-88
$12,413,891
2,255,057
1986-87
$12,116,281
2,285,575
The increase in levels of expenditures for major functions of the City
over the preceding year are shown in the following tabulation:
Function
Amount
Administrative Services $ 4,514,948
Police
7,677,500
Fire
5,240,285
Parks and Recreation
2,478,736
Accounting/Finance
418,733
Planning
336,887
Public Works
4,232,744
Health
1,830,962
Traffic and Transportation
1.249.506
Totals
$27,980,301
Increase
(Decrease)
Percent Over Prior
of Total Year
16.14% $( 33,106)
27.44
99,178
18.73
143,722
8.86
(457,910)
1.50
( 14,044)
1.20
14,108
15.13
395,394
6.54
78,542
4.46
31.556
100.00% $ 257,440
iv
Governmental Fund Types, Continued.
Expenditures from the General Fund totaled $27,980,301, a increase of
.93% over the 1987-88 fiscal year.
Major changes are seen in the Fire Division for an increase in
personnel related cost for full staffing of the fire stations.
A decrease in the Parks Maintenance Division was for the completion of
work on the softball complex.
The Engineering Division of the Public Works Department has shown an
increase for various street overlay projects and resurfacing of areas
of the town.
The City is permitted by its Home Rule Charter to levy taxes up to
$2.25 per $100 of assessed valuation for general governmental services
including the payment of principal and interest on long-term debt.
The combined tax rate to finance general governmental services for the
year ended September 30, 1989, was $.6378 per $100 which means that
the City has a tax margin of $1.6122 per $100, and could raise up to
$37,068,393 additional tax revenue a year from the present assessed
valuation of $2,299,242,866 before the limit is reached.
General Fund Balance. The fund balance of the general fund increased
by 8.67 percent in 1989. The $851,278 increase provides the
government with an additional margin for working days of expenditures.
SPECIAL REVENUE FUNDS. The Civic/Community Promotion Fund is a
Special Revenue Fund used to account for revenues from various rents
and concessions associated with the Auditorium and the Activity
Center.
The Hotel/Motel Tax Fund is a Special Revenue Fund used to account for
revenues from the City -imposed tax of 7% on rental of hotel/motel
rooms within the City with a 6% State tax for a total of 13%.
The Revenue Sharing Fund, Community Development Block Grant Fund,
Rental Rehabilitation Fund and the Section 8 Housing Fund, which are
used to subsidize rents and housing payments for lower income families
within the City, are also included in the Special Revenue Funds.
v
CAPITAL PROJECTS FUNDS. The Capital Projects Funds are used to
account for all resources used for the acquisition of capital
facilities except those financed by enterprise funds. At the end of
the fiscal year, completed projects are transferred to General Fixed
Assets. During the 1988-89 fiscal period, expenditures from the
Capital Projects Funds amounted to $889,410. Capital Projects Funds
balances on hand as of September 30, 1989, were $11,468,880. The
significant uncompleted project in Capital Projects Funds at the
present time is:
Holliday Creek Flood Control Project
CAPITAL IMPROVEMENT ASSESSMENTS FUND. The Capital Improvement
Assessment Fund was established to conform to current financial
reporting standards. It is used to account for street and sidewalk
paving projects.
PROPRIETARY FUNDS, Water and Sewer. The Water and Sewer operations
for the past three years is presented in the following tabulation:
Water and Sewer: 1988-89 1987-88 1986-87
Income Available for Debt
Service $5,867,611 $5,805,625 $4,230,749
Maximum Annual Debt Service 2,456,678 2,453,276 2,453,511
Maximum coverage (income
available for debt service
divided by maximum annual
debt service) 2.39 2.37 1.72
Airport. Operating revenues of the Airport for the year ended
September 30, 1989, were $200,895. This is an increase of 10.4% over
the prior year. Operating expenses increased 17.0% to $320,966
compared to $274,272. This was due to refurbishing and improving the
interior of the airport terminal.
Transit. Operating revenues of the Transit system were consistent
with the prior year: 88-89 - $153,955; 87-88 - $145,453; a modest
increase of 5.8%. Operating expenses were: 88-89 $509,543; 87-88
$490,557; an increase of 3.8%.
Sanitation. Sanitation revenues for the year ended September 30, 1989,
were $5,401,001. In 87-88 they were $4,716,133, an increase of 14.5%
from the prior year. Operating expenses increased 7.1% from
$4,263,138 in 87-88 to $4,569,624 in 88-89.
Internal Service Fund. Fleet Maintenance Internal Service Fund. The
City uses an Internal Service Fund for improved maintenance over the
vehicle fleet. Divisions which use the vehicles and equipment are
charged a monthly rental fee for the use of the vehicle.
vi
Fiduciary Funds. Fiduciary Funds are set up for the purpose of
accounting for money and property received from non -enterprise fund
sources and held by a governmental unit in the capacity of trustee,
custodian, or agent for individuals, governmental entities and non-
public organizations. Included in the Fiduciary Funds are certain
Employee Benefit Trust Fund, Wichita Falls Reinvestment Zone #1 Fund,
Social Security Fund, Payroll Fund, Tax Collection Fund, Accounts
Payable Fund, and Deferred Compensation Funds.
The City of Wichita Falls, Texas created the Reinvestment Zone Number
One on March 18, 1986 under Ordinance 22-86. Subsequent to the
aforementioned date, the City of Wichita Falls, Texas contracted with
the County of Wichita and the Wichita Falls Independent School
District for a 15% reduction in the tax increment which these entities
will be contributing to the Tax Increment Fund for Reinvestment Zone
Number One; both of these contracts were passed and approved by
Resolution 199-86 and 200-86 respectively on December 16, 1986. The
City of Wichita Falls, Texas will be contributing 100% of the revenue
from its tax increment. Wichita County and Wichita Falls Independent
School District will be contributing 85% of the revenue from their tax
increment.
The Tax Increment Base for Reinvestment Zone Number One is as follows:
City
Wichita County
School
Taxable
Tax
Increment Base
1-1-86
$65,062,190
65,062,190
64,965,658
Tax
Increment Base
1-1-89
$56,245,345
56,245,345
56,129,007
Current Captured
Appraised Value
1-1-89
$1,569,119
1,569,119
1,555,274
Values for January 1, 1989 are subject to modifications by the Wichita
Appraisal District, Appraisal Review Board.
The Reinvestment Zone Number One has recognized revenues from
the tax increment as of September 30, 1989, in the amount of
$10,744.00.
vii
DEBT ADMINISTRATION. Outstanding general obligation
September 30, 1989, totaled $20,995,000 and is considered 1
tax supported debt. The ratio of net bonded debt
valuation and the amount of bonded debt per capita
indicators of the City's debt position to municipal
citizens and investors. The data for the 1988-89 fiscal
follows:
Net Direct Bonded Debt $20,410,200
The current ratings are as follows:
General Obligation Bonds
Water and Sewer Revenue Bonds
bonds at
:o be direct
:o assessed
are useful
management,
year was as
Ratio of Debt
of Assessed Debt Per
Value Capita
.89% $215
Moody's Investors Standard &
Service Poor's
Al AA
Al A+
TREASURY MANAGEMENT. Cash which was temporarily idle during the year,
including debt retirement funds, operating funds, and bond proceeds,
was invested in government securities and repurchase agreements. The
total amount of interest earned on these investments amounted to
$3,600,516; an increase over the prior year of $654,731 or 22.2%.
RISK MANAGEMENT. During 1988-89, the City of Wichita Falls continued
a risk management program for worker's compensation. Various risk
control techniques, including employee accident prevention training,
have been utilized during the year to minimize accident -related
losses.
OTHER INFORMATION
INDEPENDENT AUDIT. The City Charter requires an annual audit of
the books of account, financial records, and transactions of all
administrative departments of the City by Certified Public
Accountants, selected by the Mayor and City Council. This requirement
has been complied with and Mathis, West, Huffines and Co., P.C.'s
opinion has been included in this report. The statistical section of
this report was not included within the scope of the audit.
AWARDS. The Government Finance Officers Association of the United
States and Canada (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City of Wichita Falls, Texas,
for its comprehensive annual financial report for the fiscal year
ended September 30, 1988.
In order to be awarded a Certificate of Achievement for Excellence in
Financial Reporting, a governmental unit must publish an easily
readable and efficiently organized comprehensive annual financial
report whose contents conform to program standards. Such reports must
satisfy both generally accepted accounting principles and applicable
legal requirements.
A Certificate of Achievement for Excellence in Financial Reporting is
valid for a period of one year only. We believe our current report
continues to conform to Certificate of Achievement Program
requirements, and we are submitting it to the GFOA to determine its
eligibility for another certificate.
ACKNOWLEDGEMENTS. Our appreciation is extended to the various elected
officials, department heads and employees responsible for the fair
presentation of the comprehensive annual report and contributing to
the sound financial position of the City of Wichita Falls. The City
of Wichita Falls has been blessed with a group of persons who
appreciate and respect principles of fiscal restraint and propriety.
In particular, we would like to acknowledge the special effort of the
Department of Finance employees who contributed directly to the
development of this report. The continuing support of Wichita Falls'
elected officials and City Manager, who remain committed to fiscal
integrity and financial leadership, is likewise appreciated.
Sincerely yours,
Fred L. Werner, CPA
Director of Finance
ix
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Wichita Falls,
Texas
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 1988
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFR's) achieve the highest
standards in government accounting
and financial reporting.
-;O�
President
Y�� Lrmt
Executive Director
x
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CITY OF WICHITA FALLS, TEXAS
LIST OF PRINCIPAL OFFICIALS
SEPTEMBER 30, 1989
Title Name
Mayor
Perry Goolsby
Mayor Pro-Tem
Don Kirkham
City Council Member
David Farabee
City Council Member
Angus Thompson
City Council Member
Bill Palmer
city council Member
Ronald Buffum
City Council Member
Michael Lam
City Manager
James Berzina
City Attorney
Gregory Humbach
Municipal Court Judge
Larry Gillen
City Clerk
Wilma Thomas
Assistant City Manager
Louise Houseworth
Director of Traffic and Transportation
Robert Parker
Director of Finance
Fred Werner, C.P.A.
Director of Administrative services
Louise Houseworth
Director of Planning
Roger McKinney
Director of Public Health
Tom Edmonson
Police Chief
Curtis Harrelson
Fire Chief
Ronnie James
Director of Parks and Recreation
Jack Murphy
Director of Public works and
Public Utilities
George Bonnett, P.E.
xii
FINANCIAL SECTION
MATHIS, WEST, HUFFINES & CO., P.C.
Certified Public Accountants
Capital Center • Indiana at Seventh
P. O. Box MWH • Wichita Falls, Texas 76307-9989
(817) 723-1471 • FAX (817) 723-2251
Independent Auditor's Report
The Honorable Mayor and Members of the City Council
City of Wichita Falls, Texas
We have audited the accompanying general purpose financial statements of
the city of Wichita Falls, Texas, as of and for the year ended September 30,
1989, as listed in the table of contents. These financial statements are the
responsibility of the City's management. our responsibility is to express an
opinion on these financial statements based on our audit.
we conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
we believe that our audit provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above
present fairly, in all material respects, the financial position of the city of
Wichita Falls, Texas, at September 30, 1989, and the results of its operations
and the changes in financial position of its proprietary fund types for the year
then ended, in conformity with generally accepted accounting principles.
The information listed as required supplementary information in the table
of contents is not a required part of the general purpose financial statements,
but is supplementary information required by the Governmental Accounting
standards Board. we have applied certain limited procedures, which consisted
principally of inquiries of management regarding the methods of measurement and
presentation of the required supplementary information. However, we did not
audit the information and express no opinion on it.
1
Our audit was made for the purpose of forming an opinion on the general
purpose financial statements taken as a whole. The combining and individual fund
financial statements and the supplementary information listed as supporting
schedules in the table of contents are presented for purposes of additional
analysis and are not a required part of the general purpose financial statements
of the City of Wichita Falls, Texas. The information has been subjected to the
auditing procedures applied in the audit of the general purpose financial
statements and, in our opinion, is fairly stated in all material respects in
relation to the general purpose financial statements taken as a whole. The
supplementary information in the statistical section as listed in the table of
contents has not been audited by us, and we do not express an opinion on it.
Wichita Falls, Texas
January 5, 1990
MATHIS, WEST, HUFFINES & CO., P.C.
2
GENERAL PURPOSE FINANCIAL STATEMENTS
Wichita�'c�1�1s
TEXAS\�\\\C.
W
EXHIBIT A-1
(Page 1 of 2)
CITr OF WICHITA FALLS, TEXAS
COMBINED BALANCE SHEET - ALL FUND TYPES A® ACCOOHT CROUPS
SEPTEMBER 30, 1989
WITH COMPARATIVE TOTALS FOR SEPTABEt 30, 1988
Fiduciary
Account
Groups
Governmental
Fund Types
Proprietary Fund Types
Fund Types
General
General
Totals
Special
Debt Capital
Internal
Trust and
Fixed
Long -Term
(Memorandum Only)
General
Revenue
Service Projectn
Enterprise
Service
Agency
Assets
Debt
1989
1988
ASSETS
Cash and short-term investments
$10,885,892
$1,081,751
$ - $11,591,292
$ 9,247,120
$ 461,552
$1,337,260
$ -
$ -
$ 34,604,867
$ 30,794,782
Receivables (net of allowance for
uncollectible):
Taxes and assessments (Note 5)
1,203,635
184,479
- 446,531
-
-
2,835,958
-
-
4,670,603
4,471,549
Customer and trade
-
-
- -
1,722,899
-
-
-
-
1,722,899
1,718,822
Other city funds (Note 16)
175,775
-
- -
-
-
-
-
-
175,775
522,340
Government agencies
558,700
1,746,393
- -
160,445
-
16,556
-
-
2,482,094
3,137,977
Other
225,650
4,575
- 4,864
95,637
-
-
-
-
330,726
283,607
Inventory
31,559
-
- -
562,712
280,384
-
-
-
874,655
883,940
Prepaid items
46,389
18,431
- -
4,523
63
-
-
-
69,406
168,468
Restricted assets (Note 6):
Cash and short-term investments
-
-
566,089 -
6,541,269
-
-
-
-
7,107,358
9,638,999
Receivables:
Taxes
-
-
394,250 -
-
-
-
-
-
394,250
327,611
Government agencies
166,308
-
- -
-
-
-
-
-
166:31:
135:943
Other
-
-
- -
97,754
-
-
-
-
9775
142181
Plant and equipment (Note 7):
Land and betterments
-
-
- -
24,598,680
433,658
-
14,418,475
-
39,450,813
39,334,251
Buildings, systems and improvements
-
-
- -
73,791,942
4,008,948
-
14,182,741
-
91,983,631
79,662,627
Machinery and equipment
-
-
_ _
2,722,423
_
-
3,695,289
-
6,417,712
6,091,123
Furniture and fixtures
-
-
- -
46,160
5,974
-
440,047
-
494,181
513,624
Motor vehicles and equipment
-
-
- -
3,670
15,379,165
-
91,198
-
15,474,033
14,613,850
construction in progress
-
-
- -
2,099,148
-
-
648,983
-
2,748,131
10,141,230
Accumulated depreciation
-
-
- -
( 32,669,440)
( 8,149,602)
-
-
-
( 40,819,042)
( 38,525,793)
Deferred charges
-
-
- -
617,893
-
-
-
-
617,893
658,130
Other assets
100
-
- -
-
-
-
-
-
100
188
Amount available for retirement of bonds
-
-
- -
-
-
-
-
584,800
584,800
400,423
Amount to be provided for the retirement
of capital leases
-
-
- -
-
-
-
-
86,455
86,455
15,000
Amount to be provided for accrued
vacation and sick leave-
-
- -
-
-
-
-
3,084,558
3,084,558
2,886,413
Amount to be provided for the
retirement of bonds
_
_
_ _
-
-
20,410,200
20,410,200
21,229,577
Amount to be provided for claims
and judgments
-
-
- -
-
-
-
-
97,664
97,664
82,740
Total assets
$13,294,008
$36035, 629
$960,339 $12,042,687
$89,644„835
$12,420,142
$46 189, 774
$33,476,733
$24,263,677
$193,327,824
$189,329,602
The accompanying Notes are an integral part of these financial statements.
EXHIBIT A-1
(Page 2 of 2)
CITt OF IIICRITA FALLS, TESAS
COMBII® BALANCE SH8ET - ALL FOND TZPES AND ACCOUNT GROUPS (CORT'D.)
SEPSBIUM 30, 1989
WITH CCOWAR►TIVE TOTALS FOR SEPTHKBEt 30, 1988
Fiduciary
Account Groups
Governmental
Fund Types
Proprietary Fund Types
Fund Types
General General
Totals
Special
Debt
capital
Internal
Trust and
Fixed Long -Term
(Memorandum
Only)
General
Revenue
Service
Projects
Enterprise
Service
Agency
Assets Debt
1989
1988
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable - trade
$ 661,078
$ 89,046
$ -
$ 101,864
$ 441,097
$ 271,337
$ 339,893
$ - $ -
$ 1,904,315
$ 2,789,214
Accrued payroll
221,920
4,620
-
-
255,400
62,111
-
- -
544,051
502,471
Accrued vacation and sick leave
(Note 19)
100,000
-
-
-
-
-
-
- 3,084,558
3,184,558
2,986,413
Payable to other City funds (Note 16)
-
15,516
-
-
160,259
-
-
- -
175,775
522,340
Payable to government agencies
46,104
18,561
-
-
2,318
-
2,834,523
- -
2,901,506
2,722,290
Estimated health claims payable
-
-
-
-
-
-
186,863
- -
186,863
193,027
Other liabilities
481,802
9,968
-
25,411
163,076
-
836,269
- -
1,516,526
792,341
Deferred revenue
1,121,122
-
-
446,532
-
-
-
- -
1,567, 654
1,676, 417
Capital leases payable (Note 13)
-
-
-
-
-
-
-
- 86,455
86,455
15,000
Claims and judgments payable (Note 19)
-
-
-
-
-
-
-
- 97,664
97,664
82,740
Payable from restricted assets:
Contracts and trade
-
-
-
-
222,439
-
-
- -
222,439
1,135
Revenue bonds (Note 14)
640,000
-
640,000
600,000
Accrued interest - revenue bonds
-
-
-
-
302,458
-
-
- -
302,458
308,558
Matured bonds and interest payable
-
-
-
-
3,000
-
-
- -
3,000
3,000
Deferred revenue
-
-
375,539
-
54,000
-
-
- -
429,539
424,473
General obligation bonds payable
(Note 14)
-
-
-
-
-
-
-
- 20,995,000
20,995,000
21,630,000
Payable to U.S. Government (Note 11)
-
-
-
-
1,076,623
-
-
- -
1,076,623
1,093,040
Revenue bonds payable (Note 14)
-
-
-
-
22,195,000
-
-
- -
22,195,000
22,835,000
Other long-term liabilities:
Customer deposits - payable from
restricted aBeets
-
-
1,035,217
-
-
- -
1,035,217
984,753
Total liabilities
2,632,026
137,711
375,539
573,807
26,550,887
333,448
4,197,548
- 24,263,677
59,064,643
60,162,212
Fund equity (deficit):
Contributed capital (Note 18)
-
-
-
-
22,159,703
12,376,706
-
- -
34,536,409
34,049,069
Investment in general fixed assets
-
-
-
-
-
-
-
33,476,733 -
33,476,733
33,178,276
Retained earnings (deficit):
Reserved for revenue bond
debt service
-
-
-
-
2,867,097
-
-
- -
2,867,097
2,905,568
Unreserved (Note 3)
-
-
-
-
38,067,148
( 290,012)
-
- -
37,777,136
34,389,686
Fund balances (deficit):
Reserved for encumbrances
591,512
868,971
-
1,639,923
-
-
-
- -
3,100,{06
3,542,460
Reserved for inventory and
prepaid items
77,948
18,431
-
-
-
-
-
- -
96,379
187,432
Unreserved:
Designated for:
Subsequent years expenditures
2,000,000
1,817,956
-
9,628,957
-
-
14,549
- -
13,661,462
13,227,538
Debt service
-
-
584,800
-
-
-
-
- -
584,800
400,423
Undesignated (Note 3)
7,992,522
192,560
-
-
-
-
( 22,323)
- -
8,162,759
7,286,938
Total fund equity (deficit)
10,661,982
2,897,918
584,800
11,468,880
63,093,948
12,086,694
( 7.774)
33,476,733 -
134,263,181
129,167,390
Total liabilities and fund equity
$13,294,008
$3,035,629
$960, 339
$12,042,687
$89,644,835
$22,420,142
$4, 189, 774
$33„476,733 $24,263,677
6193„327,824
$189,329,602
The accompanying Notes are an integral part of these financial statements.
EXHIBIT A-2
Ln
CITY OF WICHITA FALLS, TEAS
COIBIRM STLTENZW OF HEVSSOES, ,.o..., ......a.d AHD CHAHMM Z1 F9® BALAWL=S -
ALL .� FOND TYPES AHD E3PEBDiB7.E TRUST lU�B
FOR THE YEAR ENDED SEPTSIBIB 30, 1989
WITH CONPAHATIVE TOTALS FOR THE YEAR ENDED SEPTEIBEa 30, 1988
Revenues:
Taxes (Note 5)
Special assessments
Charges for services
Licenses and permits
Fines
Intergovernmental revenue
Contributions
Miscellaneous revenue
Total revenues
Expenditures:
Current:
Administrative services division
Police division
Fire division
Parks and recreation division
Accounting/finance division
Planning division
Public works division
Health division
Traffic and transportation division
Capital outlay
Debt service:
Principal retirement
Interest and paying agent fees
Total expenditures
Excess of revenues over (under) expenditures
Other financing sources (uses):
operating transfers in (Note 16)
operating transfers out (Note 16)
Capitalized leases
Total other financing
sources (uses)
Excess of revenues and other sources over
(under) expenditures and other uses
Fund balance (deficit) - beginning
Fund balance (deficit) - ending
Fiduciary
Governmental
Fund Types
Fund Types
Totals
special
Debt
Capital
Expendable
(Memorandum Onlvl
General
Revenue
service
Projects
Trust
1989
1988
$23,035,386
$ 609,553
$2,354,692
$ -
$ -
$25,999,631
$25,146,913
-
-
-
-
-
20,530
1,261,555
-
-
-
-
1,261,555
1,295,629
440,857
-
-
-
-
440,857
598,915
834,328
-
-
-
-
834,328
885,805
791,383
3,028,406
-
-
-
3,819,789
3,527,672
-
-
-
-
2,110,748
2,110,748
1,926,449
1,597,558
588,649
117,109
945,013
10,744
3,259,073
2,688,165
27,961,067
4,226,608
2,471,801
945,013
2,121,492
37,725,981
36,090,078
4,514,948
2,889,596
-
-
2,072,960
9,477,504
9,683,193
7,677,500
-
-
-
-
7,677,500
7,578,322
5,240,285
-
-
-
-
5,240,285
5,096,563
2,478,736
284,097
-
-
-
2,762,633
3,192,386
418,733
5,791
-
-
-
424,524
466,007
336,887
-
-
-
-
336,887
322,779
4,232,744
835,864
-
-
-
5,060,608
4,459,109
1,830,962
87,717
-
-
-
1,918,679
1,836,848
1,249,506
276,205
-
-
-
1,525,711
1,742,171
-
26,113
-
889,410
-
915,523
1,677,796
-
-
635,000
-
-
635,000
605,000
-
-
1,652,424
-
1,652.424
1,683,618
27,980,301
4,405,383
2,287,424
889,410
2,072,960
37,635,478
38,343,792
( 19,234)
( 178,775)
184,377
55,603
48,532
90,503
( 2,253,714)
966,100
175,000
-
-
-
1,141,100
1,196,249
( 180,558)
( 175,000)
-
-
-
( 355,556)
( 193,545)
84,970
-
-
84,970
-
$70,512
-
-
-
-
870,512
1,002,704
851,278
( 278,775)
184,377
55,603
48,532
961,015
( 1,251,010)
9,810,704
3,076,693
400,423
11,413,277
( 56,306)
24,644,791
25,895.801
$10,661,982
$2,897,918
$ 584,800
$11,468.880
($ 76774)
$25,605,806
$24,644,791
The accompanying Notes are an integral part of these financial statements.
CIS! OF WICHITA FALLS, SgAS
COMBINED STATEMENT OF REVENUES, ........ i..........- AND CHANGES IN FUND BALiYCES - BUDGET AND ACTUAL -
6ZNERAL, SPECIAL REVENUE, AND DEB! SERVICE FUBDS
FOR THE YEAR ENDED SEPTMUUM 30, 1989
General Fund
Special
Revenue
Funds
Debt Service Fund
Variance -
Variance -
Variance -
Favorable
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Revenues,
Taxes (Note 5)
$22,362,770
$23,035,386
$ 672,616
$ 565,000
$ 609,553
$ 44,553
$2,285,740
$2,354,692
$ 68,952
Charges for services
1,317,021
1,261,555
( 55,466)
-
-
-
-
-
-
Licenses and permits
375,100
440,857
65,757
-
-
-
-
-
-
Fines
977,000
834,328
( 142,672)
-
-
-
-
-
-
Intergover-ntal revenue
831,348
791,383
( 39,965)
3,060,784
3,028,406
( 32,378)
-
-
-
Miscellaneous revenue
902,534
1,597,558
695,024
514,105
588,649
74,544
5,000
117,109
112,109
Total revenues
26,765,773
27,961,067
1,195,294
4,139,889
4,226,608
86,719
2,290,740
2,471,801
181,061
Expenditures:
Current:
Administrative services
division
4,916,011
Police division
7,838,301
Fire division
5,262,532
Parke and recreation
division
2,586,430
Accounting/finance division
424,976
Planning division
344,181
Public works division
4,535,810
Health division
1,923,749
Traffic and transportation
division
1,347,496
Capital outlay
-
Debt service:
Principal retirement
-
Interest and paying
agent fees
-
Total expenditures
29,179,486
Excess of revenues over
(under) expenditures (
2,413,713)
Other financing sources (uses):
Operating transfers in
(Note 16)
966,100
Operating transfers out
(Note 16) (
185,499)
Capitalized leases
77,101
Total other financing
sources (uses)
$57,702
Excess of revenues and other
sources over (under)
expenditures and other uses ($
1,556,011)
Fund balance - beginning
Fund balance - ending
EXHIBIT A-3
Totals
(Memorandum Only)
Variance -
Favorable
Budqet Actual (Unfavorable)
$25,213,510 $25,999,631 $ 796,121
1,317,021 1,261,555 ( 55,466)
375,100 440,857 65,757
977,000 834$28 ( 142,672)
3,892,132 3,819,789 ( 72,343)
1,421,639 2,303,316 881,677
33,196,402 34,659,476 1,463,074
4,514,948
401,063
3,187,753
2,889,596
298,157
- -
-
8,103,764
7,404,544
699,220
7,677,500
160,801
-
-
-
- -
-
7,838,301
7,677,500
160,801
5,240,285
22,247
-
-
-
- -
-
5,262,532
5,240,285
22,247
2,478,736
107,694
661,397
284,097
377,300
- -
-
3,247,027
2,762,833
484,994
418,733
6,243
6,465
5,791
678
- -
-
431,446
424,524
6,921
336,887
7,294
-
-
-
- -
-
344,181
336,887
7,294
4,232,744
303,066
1,845,909
835,864
1,010,045
- -
-
6,381,719
5,068,608
1,313,111
1,830,962
92,787
92,107
87,717
4,390
- -
-
2,015,856
1,918,679
97,177
1,249,506
97,990
777,778
276,205
501,573
- -
-
2,125,274
1,525,711
599,563
-
-
385,630
26,113
359,517
- -
-
385,630
26,113
359,517
-
-
-
-
-
635,000 635,000
-
635,000
635,000
-
-
1,655,740 1,652,424
3,316
1.655,740
1,652,424
3,316
27,980,301
1,199,185
6,957,043
4,405,383
2,551,660
2,290,740 2,287,424
3,316
38,427,269
34,673,108
3,754,161
19,234)
2,394,479
( 2,817,154)
(_ 178,775)
2,638,379
- 184,377
184,377
( 5,230,867)
( 13,632)
5,217,235
966,100
-
175,000
175,000
-
- -
-
1,141,100
1,141,100
-
180,558)
4,941
( 175,000)
( 175,000)
-
- -
-
( 360,499)
( 355,558)
4,941
84,970
7,869
77,101
84,970
7,869
870,512
12,810
857,702
870,512
12,810
851,278
12, 407, 284
($26817,154)
( 178,775)
2 6$ 38,379
184,377
$ 16.4,377
($ 4,373,165)
856,880
$5, 230,045
9,810,704
3,076,693
400,423
13,287,820
$10,,661,982
2 8$ 97,918
584,800
$14,1446700
The accompanying Notes are an integral part of these financial statements.
EXHIBIT A-4
CITY OF WICHITA FALLS, TEXAS
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS -
ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Operating revenues:
Charges for services
Rents, concessions and other
Total operating revenues
Operating expenses:
Personnel services
Supplies and materials
Maintenance and repairs
Utilities and other services
Insurance and contract support
Depreciation and amortization
Total operating expenses
Operating income
Non -operating revenues (expenses):
Interest income
Gain (loss) on sale of fixed assets
Litigation proceeds
Interest expense and paying agent fees
Contributions from operating grants
Total non -operating revenues
(expenses)
Income before operating transfers
Operating transfers:
Operating transfers in
Operating transfers out
Net operating transfers
Net income (loss)
Retained earnings (deficit) - beginning
Retained earnings (deficit) - ending
Proprietary
Fund Tvpes
Totals
Internal
(Memorandum
Only)
Enterprise
service
1989
1988
$17,757,846
$ -
$17,757,846
$17,659,546
363,817
5,246,378
5,610,195
5,805,441
18,121,663
5,246,378
23,368,041
23,464,987
5,090,325
1,033,928
6,124,253
5,986,848
831,756
884,893
1,716,649
1,557,119
4,256,022
1,297,791
5,553,813
6,146,038
2,232,348
206,304
2,438,652
2,564,377
516,304
24,525
540,829
517,672
1,880,366
1,710,900
3,591,266
3,272,245
14,807,121
5,158,341
19,965,462
20,044,299
3,314,542
88,037
3,402,579
3,420,688
1,360,569
-
1,360,569
978,096
105
( 40,460)
( 40,355) (
44,136)
52,000
-
52,000
423,709
( 800,717)
-
( 800,717) (
716,105)
160,445
-
160,445
286,066
772,402
( 40,460)
731,942
927,630
4,086,944
47,577
4,134,521
4,348,318
180,558
-
180,558
228,224
( 653,666)
( 312,434)
( 966,100) (
942,704)
( 473,108)
( 312,434)
( 785,542) (
714,480)
3,613,836
( 264,857)
3,348,979
3,633,838
37,320,409
( 25,155)
37,295,254
33,661,416
$40,934,245
($ 290,012)
140,644,233
$37,295,254
The accompanying Notes are an integral part of these financial statements.
7
EXHIBIT A-5
CITY OF WICHITA FALLS, TEAS
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION -
ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Sources of funds:
Net income (loss)
Items not requiring (providing)
working capital:
Depreciation and amortization
(Gain) loss on sale of assets
working capital provided by operations
Contributed capital
Proceeds from sale of assets
Customer deposits, net
Decrease in restricted assets
Increase in current liabilities payable
from restricted assets
Total sources of funds
Application of funds:
Purchase of fixed assets
Retirement of revenue bonds
Payment of U.S. Government obligation
Transfer of assets from General Fixed Asset
Account Group
Decrease in current liabilities payable
from restricted assets
Total application of funds
Net increase (decrease) in working capital
Summary of net changes in working capital:
Increase (decrease) in current assets:
Cash and short-term investments
Receivables:
Customer and trade
Government agencies
Other
Inventory
Prepaid items
Net increase (decrease)
in current assets
Increase (decrease) in current liabilities:
Accounts payable - trade
Accrued payroll
Payable to other City funds
Payable to government agencies
other liabilities
Net increase (decrease)
in current liabilities
Net increase (decrease) in working capital
Proprietary Fund Types Totals
Internal (Memorandum Only)
Enterprise Service 1989 1988
$ 3,613,836 ($ 264,857) $ 3,348,979 $ 3,633,838
1,880,366
1,710,900
3,591,266
3,272,245
145
40,460
40,605
44,136
5,494,347
1,486,503
6,980,850
6,950,219
170,752
316,588
487,340
482,184
-
157,271
157,271
87,885
50,464
-
50,464
62,668
2,752,502
-
2,752,502
524,582
201,574
-
201,574
-
8,669,639
1,960,362
10,630,001
8,107,538
5,029,894
2,321,572
7,351,466
6,542,396
640,000
-
640,000
600,000
16,417
-
16,417
15,900
-
17,529
17,529
-
-
-
-
128,547
5,686,311
2,339,101
8,025,412
7,286,843
$ 2,983,328
($ 378,739)
$ 2,604,589
$ 820,695
$ 2,653,372
($ 389,908)
$ 2,263,464
$ 1,186,542
4,077
-
4,077
( 32,754)
( 26,170)
-
( 26,170)
27,800
50,991
-
50,991
( 41,752)
615
( 13,669)
( 13,054)
24,576
( 3,816)
( 424)
( 4,240)
4,752
2,679,069
( 404,001)
2,275,068
1,169,164
( 277,885)
( 25,350)
( 303,235)
356,216
17,378
88
17,466
( 147,715)
( 27,082)
-
( 27,082)
30,130
812
-
812
1,506
( 17,482)
-
( 17,482)
108,332
( 304,259)
( 25,262)
( 329,521)
348,469
$ 2,983,328
($ 378,739)
$ 2,604,589
$ 820,695
The accompanying Notes are an integral part of these financial statements.
8
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1989
Note 1 - DEFINING THE REPORTING ENTITY
In accordance with National Council on Governmental Accounting (NCGA)
Statement 3, which addresses the issue of defining the reporting entity with
respect to other agencies, institutions, commissions, public authorities,
or other government organizations for inclusion in the reporting entity's
general purpose financial statements, city of Wichita Falls, Texas (City)
management identified four organizations which were evaluated for inclusion
using the following criteria:
1. Exercise of oversight responsibility over such agencies by the city's
elected officials:
a. Financial interdependency
b. selection of governing authority
C. Designation of management
d. Ability to significantly influence operations and accountability
for fiscal matters.
2. scope of public service:
a. whether the activity is for the benefit of the reporting entity
and/or its residents
b. whether the activity is conducted within the geographic boundaries
of the reporting entity and is generally available to the citizens
of that entity.
The four organizations evaluated were not involved in any joint ventures
with the City as defined by NCGA Statement 7.
The organizations identified and evaluated for inclusion in the city's
financial statements were:
Employee Benefit Trust Fund
Based on the above criteria, the financial statements of the Employee
Benefit Trust Fund are included in the city's accompanying financial
statements as an expendable trust fund. on October 1, 1983, an
"Agreement and Declaration of Trust" was made and entered into between
the City and the Employee Benefit Trust Committee, acting as Trustee to
administer the Employee Benefit Trust. The Employee Benefit Trust
Committee consists of four Trustees selected by the city, who may, but
need not be, beneficiaries of the health and welfare program funded by
the Trust, and/or officers or employees of the City. The purpose of the
Employee Benefit Trust Fund is to provide health and welfare benefits,
which may include life, accidental death and dismemberment, disability,
medical and dental insurance, and any other benefits as determined by
the Trustee Committee. The Trust is funded through contributions by the
City and employees who choose to participate. It may be terminated in
writing, at any time, by either party.
9
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 1 - DEFINING THE REPORTING ENTITY (CONT'D.)
Firemen's Relief and Retirement Fund
The activities of the Firemen's Relief and Retirement Fund, in the City 's
professional judgment, are not a part of the City and thus are excluded
from the accompanying financial statements. The Wichita Falls Firemen's
Relief and Retirement Fund is established and controlled through various
State of Texas legislative enactments. This Fund is administered locally
by a seven member board, independent of the City Council. city
management and the City council do not influence or control the
administrative and financial affairs of the Fund, and the assets of the
Fund are not the property of the City. The seven member Board of
Trustees, composed of the Mayor and Director of Finance, three
firefighters elected by a majority vote of the firefighters and two
citizens, who are not employees or officers of the City and are chosen
by the unanimous vote of the first five Trustees, are subject to the
administrative supervision of and report to the State Firemen's Pension
Board.
other Orqanizations
Other organizations not meeting the criteria used by the City for
inclusion in the city's financial statements include the following:
Housing Authority of the City of Wichita Falls
Wichita County/City Hospital Board
These organizations represent separate non-profit governmental units and
are not controlled by or dependent upon the City. They also did not meet
the criteria of financial interdependency, which is the most significant
manifestation of oversight and includes responsibility for financing
deficits, entitlements to surpluses, and guarantees of or 'moral
responsibility" for debt.
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting and reporting policies of the City conform to generally
accepted accounting principles (GAAP) applicable to state and local
governments. Generally accepted accounting principles for local governments
include those principles prescribed by the Governmental Accounting Standards
Board (GASB), which includes all statements and interpretations of the
National council on Governmental Accounting (NCGA) unless modified by the
GASB, and those principles prescribed by the American Institute of Certified
Public Accountants in the publication entitled Audits of State and Local
Governmental Units. The following is a summary of the more significant
policies and practices used by the City.
10
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Basis of Presentation
The accounts of the City are organized and operated on the basis of funds
or account groups, each of which is considered to be a separate fiscal and
accounting entity. The operations of each fund are accounted for with a
self -balancing set of accounts that comprise its assets, liabilities, fund
balances or retained earnings, revenues, and expenditures or expenses. The
various funds are grouped by category and type in the financial statements.
The city maintains the following fund classifications and account groups:
Governmental Funds
Governmental funds are used to account for the relatively liquid portion
of city's assets that are not accounted for through proprietary or
fiduciary funds, the short-term obligations pertaining thereto, and the
net balance of these financial resources available for subsequent
appropriation and expenditure.
General Fund - The General Fund is the general operating fund of the
City. This fund is used to account for all financial resources except
those required to be accounted for in another fund.
Special Revenue Funds - Special revenue funds are used to account for
the proceeds of specific revenue sources (other than expendable trusts
or major capital projects) that are legally restricted to expenditures
for specified purposes.
Debt Service Funds - Debt service funds are used to account for the
accumulation of resources for, and the payment of, general long-term
debt principal, interest and related costs.
Capital Proiects Funds - capital projects funds are used to account
for financial resources to be used for the acquisition or construction
of major capital facilities (other than those financed by proprietary
funds).
Proprietary Funds
Proprietary funds are those used to account for the City's ongoing
organizations and activities which are similar to those found in the
private sector. The measurement focus is upon capital maintenance and
upon determination of net income, financial position, and changes in
financial position.
11
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Proprietary Funds (Cont'd.)
Enterprise Funds - Enterprise funds are used to account for operations
(a) that are financed and operated in a manner similar to private
business enterprises where the intent of the governing body is that
the costs (expenses including depreciation) of providing goods or
services to the general public on a continuing basis be financed or
recovered primarily through user charges, or (b) where the governing
body has decided that periodic determination of revenues earned,
expenses incurred, or net income is appropriate for capital
maintenance, public policy, management control, accountability or
other purposes.
Internal Service Funds - Internal service funds are used to account
for the financing of goods or services provided by one department or
agency to other departments or agencies of the city, or to other
governmental units, on a cost reimbursement basis.
Fiduciary Funds
Fiduciary funds are used to account for assets held by the city in a
trustee capacity or as an agent for other governmental units and/or other
funds. Trust and agency funds include expendable trust and payroll
agency funds.
Expendable Trust Funds - These funds are accounted for in the same
manner as governmental funds.
Agencv Funds - These funds are purely custodial (assets equal
liabilities) and thus do not involve measurement of results of
operations.
Account Groups
Account groups are used to establish accounting control and
accountability for the City's general fixed assets and general long-
term liabilities. The following are the account groups maintained by
the City:
General Fixed Assets Group - This account group is established to
account for all fixed assets of the City other than those accounted
for in the proprietary funds.
General Lonq-Term Debt Group - This account group is established to
account for long-term liabilities of the City other than those
accounted for in the proprietary funds.
12
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Basis of Accounting
Basis of accounting refers to the time at which revenues and expenditures
or expenses are recognized in the accounts and reported in the financial
statements.
Governmental funds, expendable trust funds, and agency funds are accounted
for using the modified accrual basis of accounting. Under the modified
accrual basis of accounting, revenues are recognized when they become
measurable and available as net current assets. Available means collectible
within the current period or expected to be collected within 60 days after
year end and be used to pay liabilities of the current period. Expenditures
are generally recognized under the modified accrual basis of accounting when
the related fund liability is incurred. Exceptions to this general rule
include unmatured principal and interest on long-term obligations which are
recognized when due. This exception is in conformity with generally
accepted accounting principles.
Property tax revenues and sales tax receipts are considered measurable and
available when collected by the respective intermediary collecting agency
and recognized as revenue at that time. Licenses and permits, fines and
forfeits, and miscellaneous revenues are recorded as revenues when they are
measurable and their validity seems certain. Investment earnings are
recorded on the accrual basis in all funds.
Capital improvement assessments are recorded as revenues in the fiscal
period when the assessment becomes both measurable and available to finance
expenditures of the fiscal period. Assessment revenues are considered
measurable and available when collected by the City and recognized as
revenue at that time. Payments for capital improvement assessments received
in advance of the levy are reflected as deferred revenue.
Intergovernmental revenues are recorded on a basis applicable to the legal
and contractual requirements of the various individual grant programs.
Intergovernmental revenues are recognized as follows:
1. If monies must be expended on the specific purpose or project before
any amounts will be paid to the City, revenues are recognized based
upon the expenditures or expenses recorded.
2. If monies are virtually unrestricted and irrevocable, except for
failure to comply with prescribed compliance requirements, revenues
are recognized when received or susceptible to accrual.
Proprietary funds are accounted for using the accrual basis of accounting.
Under the accrual basis of accounting, revenues are recognized in the
13
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Basis of Accountinq (Cont'd.)
accounting period in which they are earned and become measurable. Expenses
are recorded in the accounting period incurred, if measurable.
Budqet Policies
The City Council adheres to the following procedures in establishing the
budgets reflected in the financial statements:
1. Prior to the beginning of each fiscal year, the City Manager submits
to the City Council a proposed budget for all City departments,
divisions and offices for the fiscal year beginning on the following
October 1. The operating budget which represents the financial plan
for the ensuing fiscal year includes proposed expenditures and the
means of financing them.
2. Public hearings are conducted at which all interested persons'
comments concerning the budget are heard.
3. The budget for the next fiscal year is legally enacted by the city
Council through passage of an ordinance by October 1 each year.
Additional appropriations were made during the year in the amount
of $2,422,673 which were passed and approved by the City Council.
4. Expenditures may not legally exceed appropriations at the department
level for each legally adopted annual operating budget. The City
Manager may, without Council approval, transfer appropriation
balances from one expenditure account to another within a department
or agency of the City. The City Council, however, must approve any
transfer of unencumbered appropriation balances or portions thereof
from one department or agency to another. The reported budgetary
data has been revised for amendments legally authorized during the
year.
5. Annual budgets are legally adopted for all governmental funds on a
basis consistent with generally accepted accounting principles.
However, the budgets for the capital projects funds are adopted for
specific projects, are not binding, and may exceed one year.
Accordingly, no comparison of budget to actual is presented in the
financial statements for these funds.
6. At the close of each fiscal year, any unencumbered appropriation
balances (appropriations including prior year encumbrances less
current year expenditures and encumbrances) lapse or revert to the
undesignated fund balance. The unencumbered appropriation balances
in the capital projects funds do not lapse at year end.
14
Note 2
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other
commitments for the expenditure of monies are recorded in order to reserve
that portion of the applicable appropriation, is employed as an extension
of formal budgetary control in the general, special revenue, and capital
projects funds. Encumbrances outstanding at year end are reported as
reservations of fund balance for subsequent year expenditures and are
reappropriated in subsequent year budgetary accounts.
Investments
The City pools idle cash from all funds (except the Deferred Compensation
Fund) for the purpose of increasing income through investment activities.
Investments are carried at cost except for Deferred compensation Fund
investments which are carried at market value. Interest earnings are
allocated based on cash amounts in individual funds in a manner consistent
with budgetary and legal requirements.
Inventory
Inventories of the general and proprietary funds consist of supplies and
various materials used for the maintenance of fixed assets. The consumption
method is used to account for these inventories. under this method,
inventory acquisitions are recorded in inventory accounts initially and
charged as expenditures when used. Inventories are stated at average cost.
Plant and Equipment - Proprietary Funds
Plant and equipment owned by the proprietary funds are stated at historical
cost. Maintenance and repairs are charged to operations as incurred, and
improvements and betterments which extend the useful lives of fixed assets
are capitalized. Depreciation of plant and equipment is provided by the
straight-line method over the estimated useful lives of the respective
assets. Estimated useful lives for straight-line depreciation are as
follows:
Buildings, systems and improvements 20 - 59 years
Machinery, vehicles and other equipment 3 - 25 years
Furniture and equipment 3 - 10 years
when fixed assets of proprietary funds are sold, the sales proceeds less
the adjusted basis of the assets (initial cost less accumulated
depreciation) are recorded as a gain or loss.
For proprietary fund fixed assets, interest is capitalized on construction
costs incurred during the year at an average interest rate on borrowed funds
(revenue bonds) in accordance with generally accepted accounting principles.
15
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Plant and EQUioment - Pronrietary Funds (Cont'd.)
No interest is capitalized on fixed assets constructed by proprietary funds
which are financed with general obligation bonds because such interest
expenditures are reported in the Debt service Fund.
For the fiscal year ending September 30, 1989, the City's proprietary funds
incurred a total of $1,845,248 of revenue bond interest costs. of this
amount, $1,081,986 was capitalized on construction projects and $763,262
was charged to expense.
contributions of funds from Federal, State, or local grants restricted for
the purpose of purchasing plant and equipment are recorded as equity
contributions when received. The cost of water and sewer lines installed
by developers is valued by the contractor and recorded as contributed
capital in the Water and Sewer Fund. Depreciation on contributed assets
from Federal and State governments is recorded as an expense in the
statement of operations.
General Fixed Assets
General fixed assets are those assets acquired for general governmental
purposes. Assets purchased are recorded as expenditures in the governmental
funds and capitalized at historical cost in the General Fixed Assets Account
Group. Contributed fixed assets are recorded in general fixed assets at
estimated fair market value at the time received.
No depreciation has been provided on general fixed assets. No interest is
capitalized on fixed assets constructed which are financed with general
obligation bonds in accordance with generally accepted accounting
principles.
Public domain general fixed assets (infrastructure) consisting of certain
improvements other than buildings, including roads, bridges, curbs and
gutters, streets and sidewalks, and similar assets have not been
capitalized.
Federal and State Grants
Grants and shared revenues are generally accounted for within the
appropriate fund of the City to be financed by such grants or shared
revenues. Federal grants include Revenue sharing, Community Development
Block Grant, Section 8 Housing Assistance, and the Rental Rehabilitation
16
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Federal and State Grants (Cont'd.)
Program. Each Federal grant is accounted for in a separate special revenue
fund. State grant revenues received for purposes normally financed through
the general government are accounted for within the General Fund.
Reserves and Designations
Portions of fund equity are segregated for future use, and are therefore
not available for future appropriation or expenditure. Amounts reserved
for revenue bond debt service and retirement represent portions of fund
equity which are required to be segregated in accordance with the city's
bond ordinances. Amounts reserved for inventory and prepaid items have
already been expended and represent a portion of the fund balance that is
not available for future expenditures. Amounts reserved for encumbrances
are commitments for materials and services on purchase orders and contracts
which are unperformed.
Designations of unreserved fund balances in governmental funds indicate city
management's tentative plans for use of financial resources in a future
period.
Transactions Between Funds
Transactions between funds that would be treated as revenues, expenditures,
or expenses if they involved organizations external to the governmental unit
are accounted for as revenues, expenditures, or expenses in the funds
involved. Transactions which constitute reimbursements to a fund for
expenditures or expenses initially made from that fund which were properly
applicable to another fund are recorded as expenditures or expenses in the
fund that is reimbursed.
Non -recurring or non -routine transfers of equity between funds are treated
as residual equity transfers and are reported as additions to or deductions
from the fund balance of governmental funds. Residual equity transfers to
proprietary funds are treated as contributed capital, and such transfers
from proprietary funds are reported as reductions of retained earnings or
contributed capital as is appropriate in the circumstances. All other
transfers are treated as operating transfers and are included in the results
of operations of both governmental and proprietary funds.
vacation and Sick Leave
All full-time employees accumulate vacation benefits based on length of
service up to 15 days per year. The maximum allowable accumulation is 30
days.
17
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
vacation and Sick Leave (Cont'd.)
Sick leave is earned at the rate of 4.62 hours per pay period up to a
maximum of ninety days. Upon leaving the employment of the City, employees
will be paid for unused vacation days which have accrued. Additionally,
police officers and firefighters may accumulate an unlimited number of sick
leave days while employed with the city. Upon termination, police officers
and firefighters are compensated for up to ninety days of sick leave.
Insurance
The City maintains a group health insurance plan for employees and
dependents which is self -insured by the City. A group life insurance plan
is maintained through an insurance company. Contributions to the plans are
provided for by both the City and the participating employees and are
recognized as revenues in the funds. The contributions by the City are
recorded as expenditures or expenses of the various funds as appropriate.
Comparative Data
Comparative data for the prior year have been presented in the accompanying
financial statements in order to provide an understanding of changes in the
city's financial position and operations. However, complete comparative
data (i.e., presentation of prior year totals by fund type) have not been
presented in each of the statements since their inclusion would make the
statements unduly complex and difficult to read.
Reclassifications
Certain comparative data have been reclassified to present such amounts in
a manner consistent with the current year's financial statements.
Total Columns on Combined Financial Statements
Total columns on the combined financial statements are captioned "Memorandum
Only" to indicate that they are presented only to facilitate financial
analysis. Data in these columns do not present financial position, results
of operations, or changes in financial position in conformity with generally
accepted accounting principles. Such data is not comparable to a
consolidation. Interfund eliminations have not been made in arriving at
the totals.
18
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 3 - FUND DEFICITS
Enterprise Funds
At September 30, 1989, the Airport Fund had a deficit retained earnings
balance of $271,728. The intent of management is that this deficit be
recovered by transfers from other funds during future years.
At September 30, 1989, the Transit Fund had a deficit retained earnings
balance of $162,786. The intent of management is that this deficit also
be recovered by transfers from other funds during future years.
Internal Service Fund
At September 30, 1989, the Internal Service Fund had a deficit retained
earnings balance of $290,012. In the opinion of management, this deficit
will be recovered in future years by maintaining the current rates charged
for services rendered to other departments.
Expendable Trust Fund
At September 30, 1989, the Employee Benefit Trust Fund had a deficit fund
balance of $22,323. The intent of the fund's board of trustees is that this
deficit be recovered in the next two fiscal years through increased premiums
charged and the implementation of new plan provisions.
Note 4 - DEPOSITS AND INVESTMENTS
Deposits
All of the city's demand and time depository accounts are held in a local
banking institution under the terms of a written depository contract. At
September 30, 1989, the total amount of the city's demand and time deposits
per the general ledgers was $424,201, and the total amount per the City's
September 30, 1989 bank statements was $1,158,731. The entire amount of
the year end bank statement balances was covered by federal depository
insurance or by U.S. Government Securities held as collateral by the city's
agent in the city's name.
Investments
The city's investment policies are governed by State statutes. The city
is authorized to invest in obligations of the United States or its agencies,
obligations of the State of Texas or its agencies, commercial paper rated
A or its equivalent by a nationally recognized investment rating firm, and
repurchase agreements.
19
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 4 - DEPOSITS AND INVESTMENTS (CONT'D.)
Investments (Cont'd.)
The City's investments are categorized below to give an indication of the level
of risk assumed by the entity at year end. Category 1 includes investments that
are insured or registered, or for which the securities are held by the City or
its agent in the City's name. Category 2 includes uninsured and unregistered
investments for which the securities are held by the counterparty's trust
department or agent in the city's name. Category 3 includes uninsured and
unregistered investments for which the securities are held by the counterparty's
safekeeping department, but not in the city's name.
Description
Repurchase
Agreements
U.S. Government
securities
Subtotal
Assets of Deferred
Compensation Fund
Total
Note 5 - PROPERTY TAXES
Category
1 2
$28,944,000 $ -
11,509,881 -
40,453,881 -
N/A N/A
$40,453,881 $ -
Carrying Market
3 Amount Value
$ - $28,944,000 $28,958,954
11,509,881 11,593,507
40,453,881 40,552,461
N/A 834,143 834,143
$ - $41,288,024 $41.386,604
Property taxes attach as an enforceable lien on property as of the prior January
1. Taxes are levied on October 1, and become delinquent after January 31, unless
the half -payment option is elected, in which case one-half of the tax is due
November 30, and the balance the following June 30.
The City is permitted by its Home Rule Charter to levy taxes up to $2.25 per $100
of assessed valuation for general governmental services including the payment
of principal and interest on long-term debt. The combined tax rate to finance
general governmental services for the year ended September 30, 1989 was $.6378
per $100 which means that the City has a tax margin of $1.6122 per $100, and
could raise up to $37,068,393 additional tax revenue a year from the present
assessed valuation of $2,299,242,866 before the limit is reached.
The City serves as agent in assessing and collecting ad valorem taxes for the
Wichita Falls Independent School District. It also served the Wichita Falls
college District in a similar capacity during its existence and currently serves
as collector and as custodian of delinquent tax records for successors to the
former District.
20
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 5 - PROPERTY TAXES (CONT'D.)
Taxes levied and uncollected for the School and College District totaled
$2,834,523 and $2,675,217 at September 30, 1989 and 1988, respectively, and
are reflected in the Tax Collection Fund in the agency fund group.
Note 6 - RESTRICTED ASSETS - WATER AND SEWER FUND
Restricted assets in the Water and sewer Fund, held for specific purposes
in accordance with bond ordinances or other legal restrictions, are
comprised of the following:
For Debt Service:
Cash and short-term investments $2,867,097
For Capital Improvements:
Cash and short-term investments 2,638,955
Receivables 97,754
For Customer Deposits:
Cash and short-term investments 1,035,217
Total
66 639,023
21
N
N
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 7 - PLANT, EQUIPMENT AND DEPRECIATION
A summary of proprietary fund type plant and equipment at September 30, 1989 is as follows:
Total
Water and
Internal
Proprietary
Airport
Transit
Sanitation
Sewer
Service
Funds
Land and betterments
$1,468,175
$ 61,925
$ 653,692
$22,414,888
$ 433,658
$ 25,032,338
Buildings and
improvements
1,451,662
626,868
2,298,370
69,415,042
4,008,948
77,800,890
Machinery and equipment
13,608
67,822
92,206
2,548,787
-
2,722,423
Furniture and fixtures
12,477
6,128
4,750
24,805
5,974
54,134
Motor vehicles and
equipment
-
-
-
3,670
15,379,165
15,382,835
Construction in progress
-
-
-
2,099,148
-
2,099,148
2,945,922
762,743
3,049,018
96,506,340
19,827,745
123,091,768
Less accumulated
depreciation
( 1,080,063)
( 80,490)
( 396,997)
( 31,111,890)
( 8,149,602)
( 40,819,042)
Net plant and
equipment
$1,865,859
$682,253
$2,652,021
$65,394,450
$11,678,143
$ 82,272,726
The following table summarizes the changes in the components of the General Fixed Assets Account Group:
Balance
Balance
October 1,
Transfers
September 30,
1988
Additions
Deletions
In (Out)
1989
Land and betterments
$14,327,189
$ 91,286
$ -
$ -
$14,418,475
Buildings and
improvements
14,159,440
26,394
83,341
80,248
14,182,741
Machinery and
equipment
3,411,385
298,414
14,510
-
3,695,289
Furniture and
fixtures
461,194
2,010
23,157
-
440,047
Motor vehicles
and equipment
124,805
6,263
39,870
-
91,198
construction in
progress
694,263
34,968
-
( 80,248)
648,983
Total
$33,178,276
$459,335
$160,878
$ -
$33,476,733
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 8 - DEFINED CONTRIBUTION PENSION PLAN
Plan Description
The City provides pension benefits for all of its full-time employees,
except firemen, through a nontraditional, joint contributory, defined
contribution plan in the state-wide Texas Municipal Retirement System
(TMRS). The City's plan is one of over 500 administered by TMRS, an agent
multiple -employer public employee retirement system. The plans in TMRS are
substantially defined contribution plans, but have many of the
characteristics of defined benefit plans. Therefore, additional voluntary
disclosures are provided to help foster a better understanding of the
nontraditional characteristics of the plan.
Benefits depend upon the sum of the employee's contributions to the plan,
with interest, and the City -financed monetary credits, with interest. At
the date the plan began, the City granted monetary credits for service
rendered before the plan began of a theoretical amount equal to two times
what would have been contributed by the employee, with interest, prior to
establishment of the plan. Monetary credits for service since the plan
began are 200% of the employee's accumulated contributions. At retirement,
the benefit is calculated as if the sum of the employee's accumulated
contributions with interest and the employer -financed monetary credits with
interest were used to purchase an annuity.
Members can retire at ages 60 and above with 15 or more years of service,
at ages 50-59 with 25 or more years of service, or with 28 years of service
regardless of age. The plan also provides death and disability benefits.
A member is vested after 20 years, but must leave his accumulated
contributions in the plan. If a member prematurely withdraws his own money,
he is not entitled to the employer -financed monetary credits even if vested.
The plan provisions are adopted by the City within the options and actuarial
constraints detailed in the state statutes governing TMRS.
Fundinq Status and Proaress
Even though the substance of the city's plan is not to provide a defined
benefit in some form, some additional voluntary disclosure is appropriate
due to the nontraditional nature of the city's defined contribution plan
which had an initial unfunded pension benefit obligation upon the plan's
inception. The pension benefit obligation shown below is similar in nature
to the standardized disclosure measure required by Governmental Accounting
Standards Board (GASB) Statement 5 for defined benefit plans, except that
there is no need to project salary increases since the benefit credits
earned for service to date are not dependent upon future salaries. This
measure is the actuarial present value of credited projected benefits and
23
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 8 - DEFINED CONTRIBUTION PENSION PLAN (CONT'D.)
Fundinq status and Progress (Cont'd.)
is intended to help users assess the public employee retirement system's
funding status on a going concern basis, assess progress being made in
accumulating sufficient assets to pay benefits when due, and allow for
comparisons among public employee retirement plans. The calculations were
made as part of the annual actuarial valuation as of December 31, 1988 and,
therefore, all plan disclosures have been presented on a twelve month
calendar year basis. Because of the money purchase nature of the plan, the
interest rate assumption, currently 8.5% per year, does not have as much
impact on the results as it does for a defined benefit plan. The market
value of assets is not determined for each individual city's plan, but the
market value of assets for TMRS as a whole was 103.6% of book value as of
December 31, 1988.
Total unfunded pension benefit obligation applicable to the City's employees
was $4,721,384 at December 31, 1988, as follows:
Pension benefit obligation:
Annuitants $ 1,590,642
Terminated employees 1,189,320
Current employees:
Accumulated employee contributions
including allocated invested earnings 101431,538
Employer -financed vested 9,089,469
Employer -financed nonvested 6,883,212
Total pension benefit obligation 29,184,181
Net assets available for benefits,
at book value 24,462,797
Unfunded pension benefit obligation $ 4,721,384
The book value of assets is amortized cost for bonds and original cost for
short-term securities and stocks. The actuarial assumptions used to compute
the actuarially determined City contribution rate are the same as those used
to compute the pension benefit obligation.
Contributions Required and contributions Made
The contribution rate for all employees, except policemen, is 5%. Policemen
contribute 7% to the plan. Under state laws governing TMRS, the City's
24
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 8 - DEFINED CONTRIBUTION PENSION PLAN (CONT'D.)
Contributions Reauired and contributions Made (Cont'd.)
contribution rate is annually determined by an actuary. Part of the City's
contribution rate (the normal cost) is to fund the currently accruing
monetary credits, with the other part (the prior service contribution rate)
calculated as the level percent of payroll needed to amortize the unfunded
actuarial liability over the remainder of the plan's 25-year amortization
period. when the City periodically adopts updated service credits and
increases the annuities in effect, the increased unfunded actuarial
liability is to be amortized over a new 25-year period. currently, the
unfunded actuarial liability is being amortized over the 25-year period
which began January, 1989. The unit credit actuarial cost method is used
for determining the city's contribution rate. contributions are made
monthly by both the employees and the City. Since the City needs to know
its contribution rate in advance to budget for it, there is a one-year lag
between the actuarial valuation that is the basis for the rate and the
calendar year when the rate goes into effect.
The City's total payroll for the calendar year 1988 was $21,477,114, and
the City's contributions were based on a covered payroll of $17,148,324.
Both the City and the covered employees made the required contributions for
the calendar year 1988, amounting to $1,047,763 for the City and $939,886
for the employees. The City adopted changes in the plan since the previous
actuarial valuation, which had the effect of increasing the city's
contribution rate for calendar year 1989 by 0.03% of payroll. There were
no related -party transactions during 1988.
Trend Information
Trend information gives an indication of the progress made in accumulating
sufficient assets to pay benefits when due. Ten-year trend information may
be found on pages 40-41 of the city's comprehensive annual financial report.
For the three plan years ended December 31, 1986, 1987, and 1988,
respectively, available assets were sufficient to fund 81.0, 80.5, and 83.8
percent of the pension benefit obligation. Unfunded pension benefit
obligation represented 28.7, 32.9, and 27.5 percent of the annual payroll
for employees covered by the plan for the three years ended December 31,
1986, 1987, and 1988, respectively. showing unfunded pension benefit
obligation as a percentage of annual covered payroll approximately adjusts
for the effects of inflation for analysis purposes. In addition, for the
three years ended December 31, 1986, 1987, and 1988, the city's
contributions to the plan, all made in accordance with actuarially
determined requirements, were 5.80, 5.96, and 6.11 percent, respectively,
of annual covered payroll.
25
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 9 - FIREMEN'S RELIEF AND RETIREMENT FUND
The city's firemen are covered by a locally administered Firemen's Relief
and Retirement Fund maintained for members of the City of Wichita Falls Fire
Department under provisions of applicable laws of the State of Texas. All
firemen, who are under the age of 35 upon entering service as a City
firefighter, must become members of the plan.
Eighteen percent of each fireman's gross salary is contributed to the Fund,
with one-half of the contributed amount being paid by each fireman and one-
half by the City. For the year ended September 30, 1989, the city's
contribution to this Fund was $337,987 based on a covered payroll of
$3,755,411. contributions have been made for all plan years in accordance
with actuarially determined contribution requirements determined through
an actuarial valuation. Civil statutes of the State of Texas currently
permit an actuarial valuation no more than once every two years. The most
recent actuarial valuation was performed on April 30, 1986. The next
actuarial valuation is currently projected to be completed in the spring
of 1990.
The actuarial cost method used to value the Fund was the entry -age -actuarial
cost method. Under this method, the actuarial present value of projected
benefits for each participant is allocated as a level percentage of the
earnings of the participant between entry age and assumed retirement. The
unfunded actuarially accrued liability at April 30, 1986, as determined by
a valuation performed as of that date, was $2,949,325. This liability is
to be amortized by a level percentage of payroll over a period of 19 years
assuming that total payroll will increase 6% per annum in future years.
As indicated in Note 1, the Firemen's Relief and Retirement Fund is not a
part of the City and thus has been excluded from the accompanying financial
statements. A separate audited financial report of this Fund is publicly
available in the City's finance department.
Note 10 - DEFERRED COMPENSATION PLAN
The city offers its employees a deferred compensation plan created in
accordance with Internal Revenue Code section 457. The plan, available to
all City employees, permits them to defer a portion of their salary until
future years. The deferred compensation is not available to the employees
until termination, retirement, death, or an unforeseen emergency.
All amounts of compensation deferred under the plan, all investments
purchased, and all income attributable to these investments are (until paid
or made available to the employee or other beneficiary) solely the property
of the City subject only to the claims of the City's general creditors.
Participants' rights under the plan are equal to those of general creditors
of the City in an amount equal to the fair market value of their deferred
account.
26
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 10 - DEFERRED COMPENSATION PLAN (CONT'D.)
It is the opinion of City management that the City has no liability for
losses under the plan, but does have the duty of due care that would be
required of an ordinary prudent investor. It is also the opinion of city
management that it is unlikely that it will use the assets to satisfy the
claims of general creditors in the future.
Note 11 - PAYABLE TO U.S. GOVERNMENT
The City of Wichita Falls and Wichita County Water Improvement District No.
2, upon the completion of the Lake Kemp reconstruction project in January,
1976 by the U.S. Government, are required to reimburse the U.S. Government
22.7% of its reported total cost of $8,774,705, or $1,991,858. The City's
share of this amount is 66.11%, or $1,316,817, payable in forty-nine annual
installments through January, 2004 of $51,974, which includes interest at
the rate of 3.253%.
The city's share of the total costs ($5,800,957) is reflected in fixed
assets, and the City's share of the U.S. Govern."nent funded portion
($4,484,140) is reflected as contributed capital in the Water and Sewer
Enterprise Fund.
This contractual arrangement is strictly a cost -sharing agreement and is
not considered a joint venture as defined by NCGA Statement 7.
The remaining debt payable to the U.S. Government is classified as follows:
September 30,
1989 1988
Long-term $1,076,623 $1,093,040
Current portion in other
liabilities 16,417 15,900
Total $1,093,040 $1,108„940
Note 12 - AIRPORT LEASE
The airport facilities are located on land at Sheppard Air Force Base. The
land is leased from the Department of the Air Force at a cost of $1.00 per
year for a period of fifty years, beginning May 15, 1959 and expiring May
14, 2009. Additional rent is based on landing fees at a rate of $1.8264
per scheduled landing. Landing fees collected and paid on this lease were
$10,372 and $10,219 for the fiscal years ended September 30, 1989 and 1988,
respectively.
27
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 13 - DESCRIPTION OF LEASING ARRANGEMENTS
The City has entered into a land lease expiring in 1991 and three copier
leases expiring in 1994 which are classified as capital leases and are
included in the General Fixed Asset and the General Long -Term Debt account
groups.
The majority of the operating leases contain the option for annual renewal
at the end of the initial lease term. In most cases, leases will be
canceled or replaced by other leases. The City leases certain equipment
and data processing software under operating leases expiring at varying
times through 1990.
capital Leases
The following is an analysis of the leased property under capital leases
by major classes:
Classes of Propertv
Land
Equipment
Total
Asset Balances at
September 30,
1989 1988
$ 50,000 $ 50,000
77.240 -
$127,240 $ 50,000
The following is a schedule by years of future minimum lease payments under
capital leases and the corresponding present value of the net minimum lease
payments as of September 30, 1989:
Year ending September 30:
1990
1991
1992
1993
1994
Total minimum lease payments
Less: Amount representing interest
Present value of minimum lease payments (1)
$ 21,371
21,371
16,371
16,371
14,633
$ 90,117
3,662
$ 86,455
28
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 13 - DESCRIPTION OF LEASING ARRANGEMENTS (CONT'D.)
Operatinq Leases
The following is a schedule by years of future minimum rental payments
required under operating leases that have initial or remaining
noncancellable lease terms in excess of one year as of September 30, 1989:
Year ending September 30:
1990
$ 35,468
1991
11,843
1992
9,448
1993
6,100
1994
6,100
Later years
14
Total minimum payments required (2) $ 68,973
The following schedule shows the composition of total rental expenses for
all operating leases:
Minimum rentals
Contingent rentals
Total rentals
Year Ending
September 30,
1989 1988
$121,226 $139,751
10,372 10,219
$131,598 $149,970
(1) Reflected in the general long-term debt account group as capital
leases payable.
(2) Minimum payments do not include contingent rentals which may be paid
under the airport lease based on the number of scheduled landings.
Note 14 - LONG-TERM DEBT
The following is a summary of changes in long-term obligations of the City
for the year ended September 30, 1989:
29
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 14 - LONG-TERM DEBT (CONT'D.)
Obligations obligations
Outstanding New Obligations Outstanding
October 1, Obligations Retired September 30,
1988 Incurred or Refunded 1989
General obligation Bonds
payable
$21,630,000 $
- $
635,000
$20,995,000
Revenue Bonds payable
23,435,000
-
600,000
22,835,000
Accrued vacation and
sick leave (Note 19)
2,886,413
198,145
-
3,084,558
Capital leases payable
(Note 13)
15,000
85,048
13,593
86,455
claims and judgments
payable (Note 19)
82,740
35,672
20,748
97,664
Payable to U.S. Govt.
(Note 11)
1,108,940
-
15,900
1,093,040
Total
5_49,158,093 $318,865
$1,285,241
$48,191,717
Bonds payable at September 30, 1989 are
comprised of
the following individual
issues:
Range of Final
Annual
Bonds
Interest Maturity
serial
Bonds
outstanding
Rates Date
Payments
Authorized at 9/30/89
General obligation Bonds:
1986 General obligation
Refunding Bonds
5.00% to 9/01/06
$305,000 to
$22,540,000 $20,995,000
8.15%
2,115,000
Revenue Bonds:
Water and Sewer
Revenue Bonds:
1986 Water and
Sewer System
Refunding
Revenue Bonds 5.00% to 8/01/07 395,000 to 24,405,000 22,835,000
8.30% 2,265,000
Total All Bonds $46,945,000 $43,830,000
The 1986 General Obligation Bonds were issued on the full faith and credit of the
city and are secured by ad valorem taxes levied against all taxable property.
These bonds are serviced by the Debt service Fund with an apportionment of the ad
valorem tax levy. At September 30, 1989, $584,800 was available in this fund to
service these bonds.
30
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 14 - LONG-TERM DEBT (CONT'D.)
The 1986 water and Sewer Revenue Bonds were issued for purposes of improving the
City's water and sewer systems and are serviced by the net revenues of the water
and Sewer Fund.
There are a number of limitations and restrictions contained in the various bond
indentures. The City is in compliance with all significant provisions for such
limitations and restrictions.
The City's current year payments for debt service of general obligation bonds and
revenue bonds included $3,502,088 of interest.
The annual requirements to pay principal and interest on the bond obligations
outstanding as of September 30, 1989 are as follows:
Year Ending
General
obligation
Revenue
September 30:
Principal
Interest
Principal
Interest
Total
1990
$ 670,000
$ 1,615,815
$ 640,000
$ 1,814,748
$ 4,740,563
1991
710,000
1,575,615
680,000
1,773,788
4,739,403
1992
755,000
1,531,240
725,000
1,728,228
4,739,468
1993
805,000
1,482,165
775,000
1,677,478
4,739,643
1994
860,000
1,427,827
835,000
1,621,678
4,744,505
1995-1999
5,335,000
6,098,612
5,220,000
7,049,587
23,703,199
2000-2004
7,790,000
3,642,391
7,675,000
4,590,235
23,697,626
2005-2007
4,070,000
504,078
6,285,000
1,070,150
11,929,228
Total
$20,995,000
$17,877,743
$22„835,000
$21,325,892
$83,033,635
Note 15 - DEFEASANCE OF PRIOR DEBT
In prior years, the City defeased certain outstanding general obligation and
revenue bonds by placing the proceeds of new bonds and additional cash in an
irrevocable trust to provide for all future debt service payments on the old bonds.
Accordingly, the trust escrow accounts and the defeased bonds are not included in
the City's financial statements. At September 30, 1989, the following outstanding
bonds are considered defeased:
Amount
General
obligation Bonds:
1970
General obligation
Bonds
$ 125,000
1971
General Obligation
Bonds
250,000
1980
General obligation
Bonds
2,400,000
1981
General obligation
Bonds
3,150,000
1982
General obligation
Bonds
1,825,000
1985
General Obligation
Refunding
and
Improvement Bonds
18,535,000
Total Defeased General obligation Bonds 26,285,000
31
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 15 - DEFEASANCE OF PRIOR DEBT (CONT'D.)
Amount
Revenue Bonds:
1966 Water and Sewer Revenue Bonds
230,000
1966-A Water and Sewer Revenue Bonds
150,000
1973 Water and Sewer Revenue Bonds
400,000
1978 Water and Sewer Revenue Bonds
540,000
1980 Water and Sewer Revenue Bonds
600,000
1981 Water and Sewer Revenue Bonds
700,000
1982 Water and Sewer Revenue Bonds
530,000
1984 Water and Sewer Revenue Bonds
17,980,000
Total Defeased Revenue Bonds
21,130,000
Total Defeased Bonds
$47,415,000
Note 16 - INDIVIDUAL FUND DISCLOSURES
Interfund receivable and payable balances at
September 30,
1989 are as follows:
Interfund
Interfund
Receivables
Parables
General Fund
$175,775
$ -
Special Revenue Funds:
Community Development Block
Grant Fund
-
15,515
Rental Rehabilitation Program
Fund
-
1
Enterprise Fund:
Transit Fund
-
160,259
Totals
$175,775
$175,775
operating transfers between funds during the
year were as
follows:
Operating
Operating
Transfer In
Transfer out
General Fund $
966,100
$ 180,558
Special Revenue Funds:
Civic/Community Promotion
Fund 175,000 -
Hotel/Motel Tax Fund - 175,000
32
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 16 - INDIVIDUAL FUND DISCLOSURES (CONT'D.)
Operating Operating
Transfer In Transfer Out
Enterprise Funds:
Transit Fund 180,558
Sanitation Fund -
Water and Sewer Fund -
Internal Service Fund -
Totals $1,321,658
380,692
272,974
312,434
1,321,658
33
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 17 - SEGMENT INFORMATION FOR ENTERPRISE FUNDS
The City maintains four enterprise funds which provide transportation, sanitation, water and sewer services.
Segment information for the year ended September 30, 1989 is as follows:
Operating revenues
Depreciation and amortization
operating income (loss)
Contributions from operating grants
operating transfers:
In
Out
Net income (loss)
current capital:
contributions
Plant and equipment:
Additions
Deletions
Net working capital
Total assets
Bonds and other long-term liabilities
Total equity
Total
Water
Enterprise
Airport
Transit
Sanitation
and Sewer
Funds
$ 200,895
$153,955
$5,401,001
$12,365,812
$18,121,663
91,734
14,585
58,785
1,715,262
1,880,366
( 120,071)
( 355,588)
831,377
2,958,824
3,314,542
-
160,445
-
-
160,445
-
180,558
-
-
180,558
-
-
380,692
272,974
653,666
( 115,849)
( 14,585)
629,016
3,115,254
3,613,836
-
-
-
170,752
170,752
540
-
6,527
5,022,827
5,029,894
-
-
9,981
363
10,344
( 24,655)
-
681,274
2,326,709
2,983,328
2,088,342
844,566
5,521,122
81,190,805
89,644,835
-
-
-
24,306,840
24,306,840
2,005,657
655,959
5,322,317
55,110,015
63,093,948
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 18 - CONTRIBUTED CAPITAL - PROPRIETARY FUNDS
During the year ended September 30, 1989, contributed capital in the city's proprietary funds increased by
the following amounts:
Total
Water
Internal
Proprietary
Source
Airport Transit Sanitation and Sewer
Service
Funds
Government - fixed assets
$ - $ - $ - $ 35,450
$ 316,588
$ 352,038
Developers - fixed assets
- - - 135,302
-
135,302
Total additions
- - - 170,752
316,588
487,340
contributed capital,
Ln October 1, 1988
2,277,385 818,745 2,907,626 15,985,195
12,060,118
34,049,069
Contributed capital,
September 30, 1989
$2,277,385 $818,745 $2,907,626 $16,155,947
$12,376,706
$34,536,409
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 19 - COMMITMENTS AND CONTINGENCIES
Litiqation
The City is a defendant in numerous lawsuits. The ultimate liability of
the City cannot be determined at this time, although City management
believes such liability will not materially affect the financial position
of the City.
Accrued Vacation and Sick Leave
The city's liability for accrued vacation and sick leave excluding the
amount recorded in the enterprise funds was $3,184,558 at September 30,
1989. This accrual is recorded in the General Long -Term Debt account group,
except for $100,000 which is believed by City management to be currently
payable from available resources and is recorded in the General Fund.
Post -Retirement Health Care and Life Insurance Benefits
In addition to providing pension benefits, the City provides certain health
care and life insurance benefits for retired employees. Substantially all
of the City's employees may become eligible for those benefits if they reach
normal retirement age while working for the City. The cost of retiree
health care is paid for by the retirees. The cost of life insurance
benefits is funded jointly by the City and the retirees. The City' s portion
of these costs is recognized as expense when paid. For the fiscal year
ended September 30, 1989, these costs totaled $5,888.
Workmen's Compensation Claims
The City is liable for workmen's compensation claims arising in various
General Fund departments of $97,664 as of September 30, 1989. This amount
is recorded as a liability in the General Long -Term Debt account group.
Contract Commitment With West Texas Utilities Companv
In 1977, the city and Wichita County water Improvement District Number 2
entered into a sixty -year contract with the West Texas Utilities Company
(company) and agreed to provide an adequate water supply for the Company's
use in generating power upon completion of the company's construction of
a power plant adjacent to the Lake Kemp -Lake Diversion System.
The significant terms of the contract provide for standby charges to be paid
to the City and the Wichita County water Improvement District Number 2 in
equal amounts. Minimum annual charges began on January 1, 1987, and shall
continue as follows:
36
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 19 - COMMITMENTS AND CONTINGENCIES (CONT'D.)
Contract Commitment With West Texas Utilities Company (Cont'd.)
Years Ending December 31:
1989-1991
1992-1996
1997 and all years thereafter
until end of contract
For water actually consumed, the Company shall pay
County Water Improvement District Number 2 equally,
twenty-three ($.23) cents per one thousand (1,000)
adjusted annually.
city 's
Annual Share
$250,000
375,000
500,000
the city and Wichita
at the Base Rate of
gallons, which can be
This contract can be terminated at any time by the Company. If the contract
is terminated, the Company is required to make a maximum termination payment
equal to the minimum charges which would have become due and payable during
the following twenty-four month period.
Contract Commitment With Army Corps of Engineers
On June 13, 1987, the City entered into a construction contract with the
Army Corps of Engineers to provide flood protection to the City of Wichita
Falls and surrounding vicinity. This flood protection is to be attained
by increasing the flood control capabilities in the Holliday Creek area and
by modifying the existing Lake Wichita Dam. As of September 30, 1989, the
total project costs under this contract were estimated to be $45,200,000.
The city must provide a 5 percent cash contribution in proportion to the
rate of federal expenditures incurred during the construction period. This
required contribution is presently estimated to be $2,260,000.
Additionally, the City must provide all land, easements, rights -of -way, and
waste material disposal areas, and perform all relocations necessary to
complete the project. If the value of the above -mentioned contributions
is determined to be less than 25 percent of the total project costs, the
City must make an additional cash contribution to make its total
contribution equal to 25 percent of the total project costs. The City has
incurred a total of $6,668,797 in project costs as of September 30, 1989.
The City is also responsible for the estimated $3,214,625 of costs necessary
to modify the existing Lake Wichita Dam. These projects are estimated to
be completed during the fiscal year ending September 30, 1993.
37
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 19 - COMMITMENTS AND CONTINGENCIES (CONT'D.)
Construction Contracts
At September 30, 1989, several long-term construction contracts were
outstanding in which the city has committed to but has not accrued any
expenditures or expense as the work has not yet been performed. The amounts
for which the various funds are committed to complete these contracts are
as follows:
General Fund
special Revenue Fund:
Community Development Block
Grant Fund
Capital Projects Fund:
1985 Holliday Creek Project
Enterprise Funds:
Sanitation Fund
Water and Sewer Fund
Total Enterprise Funds
Total contract commitments
$ 419,814
2,991,494
Federally Assisted Proarams - Compliance Audits
$ 465,141
855,397
1,562,025
3,411,308
$6,293,871
The City participates in numerous Federally assisted programs, on both a
direct and state pass -through basis, as well as on a service -provider basis.
Principal among these are Federal Revenue sharing, Community Development
Block Grants, Section 8 Housing Assistance, and the Rental Rehabilitation
Program.
In connection with these grants, the City is required to comply with
specific terms and agreements as well as applicable Federal and State laws
and regulations. such compliance is subject to review and audit by the
grantors and their representatives.
In the opinion of management, the City has complied with all requirements.
However, since such programs are subject to future audit or review, the
possibility of disallowed expenditures exists. In the event of any
disallowance of claimed expenditures, the City expects the resulting
liability to be immaterial.
38
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1989
Note 20 - SUBSEQUENT EVENT
on October 18, 1989, the City was informed that its application with the
Texas water Development Board for a low interest revolving fund loan in the
amount of $21,350,000 was approved. The proceeds from this loan will be
used for sewer treatment plant renovation and expansion and the installation
of a large capacity sewage collection interceptor line.
39
REQUIRED SUPPLEMENTARY INFORMATION
EXHIBIT B-1
CITY OF WICHITA FALLS, TEXAS
DEFINED CONTRIBUTION PENSION PLAN - ANALYSIS OF FUNDING PROGRESS -
LAST TEN PLAN YEARS (UNAUDITED)***
(6)
(4)
Unfunded Pension
(1)
(3)
Unfunded
(5)
Benefit obligation
Net Assets
(2)
Percentage
Pension Benefit
Annual
as a Percentage
Plan
Available
Pension Benefit
Funded
obligation
Covered
of Covered Payroll
Year
For Benefits*
obligation
(1) '. (2)
(2) - (1)
Payroll
(4) . (5)
1979
$ 7,439,301
$ 8,350,527
89.1%
$ 911,226
$ 9,197,671
9.9%
1980
8,608,043
9,472,370
90.9%
864,327
10,770,238
8.0%
1981
10,076,953
10,893,004
92.5%
816,051
11,865,120
6.9%
1982**
11,239,691
12,816,960
87.7%
1,577,269
13,340,527
11.8%
1983
12,944,791
15,224,110
85.0%
2,279,319
13,882,452
16.4%
1984
14,902,005
18,130,886
82.2%
3,228,881
14,185,255
22.8%
1985
17,136,495
21,280,661
80.5%
4,144,166
15,040,953
27.6%
1986
19,097,798
23,567,091
81.0%
4,469,293
15,593,759
28.7%
0 1987
21,932,183
27,236,608
80.5%
5,304,425
16,147,248
32.9%
1988
24,462,797
29,184,181
83.8%
4,721,384
17,148,324
27.5%
Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded
pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as
a percentage of the pension benefit obligation provides one indication of the City's funding status on a going -
concern basis. Analysis of this percentage over time indicates whether the system is becoming financially
stronger or weaker. Generally, the greater this percentage, the stronger the pension plan. Trends in unfunded
pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded
pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of
inflation and aids analysis of the city's progress made in accumulating sufficient assets to pay benefits when
due. Generally, the smaller this percentage, the stronger the pension plan.
* At book value (See Note 8.)
** During 1982, plan benefit provisions were amended to retroactively increase prior service credits. This
amendment had the effect of increasing the pension benefit obligation in 1982 by approximately $537,000.
*** The City's retirement plan is substantially a defined contribution plan. These voluntary disclosures,
similar to the disclosures required for a defined plan, are provided for additional analysis of the city's
retirement plan.
EXHIBIT B-2
CITY OF WICHITA FALLS, TEXAS
DEFINED CONTRIBUTION PENSION PLAN - REVENUES BY SOURCE AND EXPENSES BY TYPE -
LAST TEN PLAN YEARS (UNAUDITED)**
Employer
contributions
as Percentage
Revenues By
Source
Plan
of Annual
Employer
Employee
Investment
Year
Covered Pavroll
Contributions
Contributions
Income
Total
1979
4.68%
$ 430,451
$505,439
$ 480,018
$1,415,908
1980
4.62%
497,585
591,618
624,517
1,713,720
1981
4.59%
544,609
654,082
867,441
2,066,132
1982*
4.55%
606,994
739,073
1,031,285
2,377,352
1983
4.73%
656,640
775,615
1,206,394
2,638,649
1984
5.10%
723,448
793,676
1,419,569
2,936,693
1985
5.35%
804,691
834,538
1,622,861
3,262,090
1986
5.80%
904,438
864,846
1,857,101
3,626,385
1987
5.96%
962,376
894,829
2,101,277
3,958,482
1988
6.11%
1,047,763
939,886
2,461,316
4,448,965
Expenses By Tvoe
Aggregate
Plan Benefit Administrative
Year Payments Expenses Refunds Total
1979
$ 148,291
$ 15,925
$278,239
$ 442,455
1980
263,819
16,377
264,782
544,978
1981
237,588
16,493
343,141
597,222
1982*
910,303
17,378
286,933
1,214,614
1983
703,210
19,245
211,094
933,549
1984
631,278
18,546
329,655
979,479
1985
587,421
19,884
420,295
1,027,600
1986
1,298,373
19,814
346,895
1,665,082
1987
787,769
20,653
315,675
1,124,097
1988
1,535,680
20,067
362,604
1,918,351
Contributions were made in accordance with actuarially -determined contribution
requirements.
* See note on page 40 for a discussion of the 1982 change in employee benefit
provisions.
** The city's retirement plan is substantially a defined contribution plan. These
voluntary disclosures, similar to the disclosures required for a defined benefit
plan, are provided for additional analysis of the City's retirement plan.
41
COMBINING AND INDIVIDUAL FUND
FINANCIAL STATEMENTS
Wichi s
TEXAS
GENERAL FUND
The General Fund is used to account for all revenues and expenditures
not accounted for in other funds. It receives a greater variety and
amount of revenues and finances a wider range of governmental activities
than any other fund. Major functions financed by the General Fund
include: Administrative; Finance; Police; Fire; Protective Inspections,
such as building, plumbing and electrical; Traffic Engineering; Public
works Engineering; Street Maintenance; Health; Community Enrichment
Activities such as Parks, Recreation, and Library; and Planning.
EXHIBIT C-1
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1989 AND 1988
ASSETS
cash and short-term investments
Receivables:
Taxes and assessments (less $722,000
and $631,824 allowance for uncollectible
accounts)
other city funds
Government agencies
Other
Inventory
Prepaid items
Restricted assets:
Receivable from government agencies
other assets
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Accrued payroll
Accrued vacation and sick leave
Payable to other City funds
Payable to government agencies
Other liabilities
Deferred revenue
Total liabilities
Fund balance:
Reserved for encumbrances
Reserved for inventory and prepaid items
Unreserved:
Designated for subsequent years expenditures
Undesignated
Total fund balance
Total liabilities and fund balance
1989
1988
$10,885,892 $ 9,671,970
1,203,635
1,184,866
175,775
520,999
558,700
573,225
225,650
224,251
31,559
27,790
46,389
34,825
166,308 135,943
100 188
13 294,008 $12„3744057
$ 661,078
$ 617,737
221,920
197,219
100,000
100,000
-
1,341
46,104
27,300
481,802
485,831
1,121,122
1,133,925
2,632,026
2,563,353
591,512
637,497
77,948
62,615
2,000,000
1,750,000
7,992,522
7,360,592
10,661,982
9,810,704
$13,294,008 $12,374,057
42
EXHIBIT C-2
(Page 1 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
1989
variance -
Favorable
1988
Budget
Actual
(Unfavorable)
Actual
Revenues:
Taxes:
Ad valorem taxes
$12,874,770
$12,933,347
$ 58,577
$12,723,158
Penalties and interest
160,000
216,975
56,975
217,639
City sales tax
6,384,000
6,794,509
410,509
6,225,015
Franchise taxes
2,721,000
2,794,283
73,283
2,768,262
Other taxes
223,000
296,272
73,272
261,644
Total taxes
22,362,770
23,035,386
672,616
22,195,718
Charges for services:
Golf, tennis and
recreation fees
76,730
91,569
14,839
72,489
Tax collection fees
100,874
106,861
5,987
97,568
Other service charges
1,139,417
1,063,125
( 76,292)
1,125,572
Total charges
for services
1,317,021
1,261,555
( 55,466)
1,295,629
Licenses and permits:
Building permits
105,000
101,945
( 3,055)
301,119
Electrical and plumbing
65,500
88,927
23,427
72,678
Health and animal control
148,000
180,491
32,491
155,959
other licenses and
permits
56,600
69,494
12,894
69,159
Total licenses and
permits
375,100
440,857
65,757
598,915
Fines:
Municipal Court
952,500
813,961
( 138,539)
863,347
Library
24,500
20,367
( 4,133)
22,458
Total fines
977,000
834,328
( 142,672)
885,805
Intergovernmental revenue:
Operating grants
552,896
512,931
( 39,965)
472,868
Wichita Falls school
District
237,452
237,452
-
231,319
Wichita County
41,000
41,000
-
-
Total intergovern-
mental revenue
831,348
791,383
( 39,965)
704,187
43
EXHIBIT C-2
(Page 2 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Revenues (Cont'd.):
Miscellaneous revenue:
Parking meters
Rentals and concessions
Interest
Sale of fixed assets
other
Total miscellaneous
revenue
Total revenues
Expenditures:
Administrative services
division:
Mayor and City Council
City Manager
Legal
Personnel/Risk Management
City Clerk
Martin Luther King Center
Farmer's Market
Library
Property Management
Data Processing
Community Information
Nondepartmental
Municipal Court
Building Maintenance
Purchasing
Total administrative
services division
Police division:
Police
Budqet
4,350
104,984
727,700
25,500
40,000
902,534
1989
Actual
3,949
100,989
1,347,193
65,957
79,470
1,597,558
26,765,773 27,961,067
variance -
Favorable
(Unfavorable)
( 401)
( 3,995)
619,493
40,457
39,470
695,024
1,195,294
1988
Actual
4,022
98,737
1,165,761
28,565
49,068
1,346,153
27,026,407
61,524
61,407
117
42,216
289,358
286,284
3,074
269,909
260,610
237,324
23,286
292,986
399,987
396,933
3,054
295,569
80,223
78,104
2,119
78,267
90,840
90,838
2
86,800
29,575
28,066
1,509
26,675
572,232
499,055
73,177
449,703
47,410
44,158
3,252
47,588
661,210
639,535
21,675
736,491
98,336
92,599
5,737
99,548
1,535,475
1,301,206
234,269
1,408,642
375,122
359,617
15,505
308,906
366,982
356,308
10,674
355,436
47,127
43,514
3,613
49,318
4,916,011
4,514,948
401,063
4,548,054
7,838,301
7,677,500
160,801
7,578,322
44
EXHIBIT C-2
(Page 3 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Expenditures (Cont'd.):
Fire division:
Fire
Parks and recreation
division:
Recreation
Park maintenance
Cemetery
Total parks and
recreation
division
Accounting/finance division:
Accounting/finance
Tax
Total accounting/
finance division
Planning division:
Planning
Public works division:
Engineering
Inspection
Street
Total public works
division
Health division:
Administration
Nursing
Air and water pollution
Laboratory
General environment
Food and vector control
Animal control
Total health
division
Budqet
5,262,532
447,046
1,949,450
189,934
1989
Actual
5,240,285
435,946
1,877,218
165,572
2,586,430 2,478,736
variance -
Favorable
(unfavorable)
22,247
11,100
72,232
24,362
107,694
1988
Actual
5,096,563
441,903
2,324,550
170,193
2,936,646
259,155
256,961
2,194
263,841
165,821
161,772
4,049
168,936
424,976
418,733
6,243
432,777
344,181
336,887
7,294
322,779
1,556,361
1,389,730
166,631
823,517
437,668
436,809
859
450,742
2,541,781
2,406,205
135,576
2,563,091
4,535,810
4,232,744
303,066
3,837,350
206,658
198,724
7,934
239,071
749,551
704,477
45,074
648,832
170,927
170,918
9
177,133
108,691
95,708
12,983
97,253
182,033
162,072
19,961
140,765
319,896
313,751
6,145
268,050
185,993
185,312
681
181,316
1,923,749
1,830,962
92,787
1,752,420
45
EXHIBIT C-2
(Page 4 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
1989
variance -
Favorable
1988
Budget
Actual
(Unfavorable)
Actual
Expenditures (Cont'd.):
Traffic and transportation
division:
Traffic engineering
1,347,496
1,249,506
97,990
1,217,950
Total expenditures
29,179,486
27,980,301
1,199,185
27,722,861
Excess of revenues over
(under) expenditures
( 2,413,713)
( 19,234)
2,394,479
( 696,454)
other financing sources (uses):
Operating transfers in
966,100
966,100
-
942,704
operating transfers out
( 185,499)
( 180,558)
4,941
-
capitalized leases
77,101
84,970
7,869
-
Total other financing
sources (uses)
857,702
870,512
12,810
942,704
Excess of revenues and other
sources over (under)
expenditures and other uses ($ 1,556,011)
Fund balance - beginning
Fund balance - ending
851,278 $2,407,289 246,250
9,810,704 9,564,454
$10,661,982 $ 9,810,704
46
Wichita is
TEXAS\� �
SPECIAL REVENUE FUNDS
I
Special Revenue Funds are used to account for the proceeds of specific
revenue sources (other than expendable trusts or for major capital
projects) that are legally restricted to be expended for specified
purposes. seven individual funds are reported within the Special
Revenue Funds as follows:
Revenue Sharinq Fund
The Revenue Sharing Fund accounts for all federal revenue sharing
receipts and related expenditures.
Civic/Community Promotion Fund
The Civic/Community Promotion Fund accounts for the operations of the
Wichita Falls Municipal Auditorium and the Wichita Falls Activity
Center.
Hotel/Motel Tax Fund
The Hotel/Motel Tax Fund accounts for revenues derived from an
occupancy tax which is expended on programs promoting the growth of
the City of Wichita Falls.
Community Development Block Grant Fund
The community Development Block Grant Fund accounts for federal grant
revenues and related expenditures.
Special Revenue Fund
The Special Revenue Fund accounts for various revenues generated in
the form of contributions, fees, concessions, rents and other charges
and their related expenditures. The revenues in this fund are
expended to support the activity generating the revenue or as
designated by the contributor.
Section 8 Housinq Fund
The section 8 Housing Fund accounts for federal funds received to
subsidize rents and housing payments for lower income families within
the City.
Rental Rehabilitation Program Fund
The Rental Rehabilitation Program Fund accounts for federal funds
received to provide decent, safe, sanitary and affordable rental
housing for lower income families within the City by rehabilitating
existing substandard rental units to a condition which brings them
into compliance with the Standard Housing Code and the requirements
of the U.S. Department of Housing and urban Development.
EXHIBIT D-1
CITY Or WICHITA rALLS, TEXAS
SPECIAL REVEMKIE FUNDS
COMBINING BALANCE SHEET
SKPTK BER 30, 1989
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1988
Civic/
Hotel/
Community
Rental
Revenue
Community
Hotel
Development
Special
Section 8
Rehabilitation
Totals
Sharing
Promotion
Tax
Block Grant
Revenue
Housing
Proqram
1989
1988
ASSETS
Cash and short-term investments
$
294,060
$ 7,345
$ 11,042
$ -
$564,737
$204,567
$ -
$1,081,751
$1,125,963
Receivables:
Taxes and assessments
-
-
184,479
-
-
-
-
184,479
156,554
Government agencies
-
4,848
-
1,655,417
-
-
86,128
1,746,393
2,378,137
Other
298
-
-
-
4,277
-
-
4,575
4,206
Prepaid items
310
18,030
90
1
18,431
124,817
Total assets
$
2946358
112,503
11956521
$16673,447
$569,104
$2046568
$ 86,128
$3,035,629
$3, 789,677
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
$
-
$12,270
$ -
$ 66,522
S 9,660
$ 594
$ -
$ 89,046
$ 221,967
v Accrued payroll
-
1,224
-
2,014
-
1,382
-
4,620
5,207
Payable to other City funds
-
-
-
15,515
-
-
1
15,516
332,316
Payable to government agencies
-
-
-
-
-
18,561
-
18,561
18,267
other liabilities
-
1,104
555
107
7,504
619
-
9,968
47,465
Deferred revenue
87,762
Total liabilities
14,598
555
84,238
17,164
21,155
1
137,711
712,984
Fund balance (deficit):
Reserved for encumbrances
3,961
-
-
855,397
9,613
-
-
868,971
304,812
Reserved for prepaid items
-
310
-
18,030
90
1
-
18,431
124,817
Unreserved:
Designated for subsequent
years expenditures
290,397
-
-
715,782
542,237
183,413
86,127
1,817,956
2,622,343
Undesignated
-
( 2,405)
194,966
( 1)
192,560
24,721
Total fund balance (deficit)
294,358
( 2,095)
194,966
1,589,209
551,940
183,413
86,127
2,897,918
3,076,693
Total liabilities and fund balance
$
294,358
$12,503
$195,521
$1,671 447
$569,304
$204,568
$ 86, 128
$3,035,629
$3,789,677
A
CD
CITY OF WICHITA FALLS, TEXAS
SPECIAL REVERIE FUNDS
COMIRING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES 10 FUND BALANCE - BUDGET AND ACTUAL
FOR THE TEAR EmED SEPTE BEt 30, 1989
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTE®El 30, 1988
Civic/
Hotel/
Community
Revenue
Community
Motel
Development
Special
Section 8
Sharing
Promotion
Tax
Block Grant
Revenue
Housing
Revenues:
Taxes
$ -
$ -
$609,553
$ -
$ -
$ -
Intergovernmental revenue
-
-
-
1,203,000
-
1,671,406
Miscellaneous revenue
28,854
197,037
941
6,262
355,555
-
Total revenues
28,854
197,037
610, 494
1,209,262
355,555
1,671,406
Expenditures:
Current:
Administrative services
division
1,835
374,438
407,776
373,091
44,179
1,528,268
Parks and recreation
division
70,999
-
-
38,875
174,223
-
Accounting/finance
division
5,791
-
-
-
-
-
Public works division
-
-
-
835,864
-
-
Health division
-
-
-
87,717
-
-
Traffic and transpor-
tation division
264,586
-
-
11,619
-
-
capital outlay
1,849
-
-
3,610
20,654
-
Total expenditures
345,060
374,438
407,776
1,350,776
239,056
1,528,268
Excess of revenues over
(under) expenditures
( 316,206)
( 177,401)
202,718
( 141,514)
116,499
143,138
Other financing sources (uses):
Operating transfers in
-
175,000
-
-
-
-
operating transfers out
-
-
( 175,000)
-
-
-
Total other
financing sources
(uses)
-
175,000
( 175,000)
-
-
-
Excess of revenues and other
sources over (under)
expenditures and other uses
( 316,206)
( 2,401)
27,718
( 141,514)
116,499
143,138
Fund balance - beginning
610,564
306
167,248
1,730,723
435,441
40,275
Fund balance (deficit) - ending
1 294,358
(5 26095)
$194, 966
$1,589,209
15514940
1 183, 413
EXHIBIT D-2
Totals
1989
1988
Rental
variance -
Rehabilitation
Favorable
Program
Actual
Budget
(Unfavorable)
Actual
$ -
$ 609,553
$ 565,000
$ 44,553
$ 587,386
154,000
3,028,406
3,060,784
( 32,378)
2,823,485
588,649
514,105
74,544
515,143
154,000
4,226,608
4,139,889
86,719
3,926,014
160,009
2,889,596
3,187,753
298,157
2,829,119
-
284,097
661,397
377,300
462,417
-
5,791
6,469
678
33,230
-
835,864
1,845,909
1,010,045
621,759
-
87,717
92,107
4,390
84,428
-
276,205
777,778
501,573
524,221
26,113
385,630
359,517
386,621
160,009
4,405,383
6,957,043
2,551,660
4,941,795
( 6,009)
( 178,775)
( 2,817,154)
2,638,379
( 1,015,781)
-
175,000
175,000
-
193,545
( 175,000)
( 175,000)
( 193,545)
( 6,009) ( 178,775) ($2,817,154) $2,638,379 ( 1,015,781)
92,136 3,076,693 4,092,474
$ 866127 $26897, 918 $3,076,697
EXHIBIT D-3
CITY OF WICHITA FALLS, TEXAS
REVENUE SHARING FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1989 AND 1988
ASSETS
Cash and short-term investments
Receivables:
other
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Fund balance:
Reserved for encumbrances
Unreserved:
Designated for subsequent years
expenditures
Total fund balance
Total liabilities and fund balance
1989 1988
$ 294,060 $ 665,971
298 763
$ 294,358 4=666,734
$ - $ 56,170
3,961 258,133
290,397 352,431
294,358 610,564
$ 294,358 $ 666,734
49
EXHIBIT D-4
CITY OF WICHITA FALLS, TEXAS
REVENUE SHARING FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Revenues:
Miscellaneous revenue
Expenditures:
Current:
Administrative services
division
Parks and recreation
division
Accounting/finance
division
Traffic and transporta-
tion division
capital outlay
Total expenditures
Excess of revenues over
(under) expenditures
Fund balance - beginning
Fund balance - ending
1989
Budqet Actual
$ - $ 28,854
variance -
Favorable
(Unfavorable)
$ 28,854
1988
Actual
$ 43,452
3,638
1,835
1,803
1,220
110,343
70,999
39,344
131,050
6,469
5,791
678
33,230
369,241
264,586
104,655
328,808
97,596
1,849
95,747
350,267
587,287
345,060
242,227
844,575
($ 587,287) (
S
316,206)
610,564
294,358
$ 271,081
( 801,123)
1,411,687
$ 610,564
50
EXHIBIT D-5
CITY OF WICHITA FALLS, TEXAS
CIVIC/COMMUNITY PROMOTION FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1989 AND 1988
ASSETS
Cash and short-term investments
Receivables:
other
Prepaid items
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Accrued payroll
other liabilities
Total liabilities
Fund balance (deficit):
Reserved for encumbrances
Reserved for prepaid items
Unreserved:
Undesignated
Total fund balance (deficit)
Total liabilities and fund balance
1989 1988
$ 7,345 $ 6,618
4,848 3,443
310 105
$ 12,503 $ 10,166
$ 12,270 $ 8,375
1,224 1,485
1,104 -
14,598 9,860
- 36,748
310 105
( 2,405) ( 36,547)
( 2,095) 306
$ 12,503 $ 10,166
51
EXHIBIT D-6
CITY OF WICHITA FALLS, TEXAS
CIVIC/COMMUNITY PROMOTION FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
1989
variance -
Favorable
1988
Budqet
Actual
(Unfavorable)
Actual
Revenues:
Miscellaneous revenue
$ 166,500
$ 197,037
$ 30,537
$ 167,631
Expenditures:
Current:
Administrative services
division
378,352
374,438
3,914
353,563
capital outlay
-
-
-
7,613
Total expenditures
378,352
374,438
3,914
361,176
Excess of revenues over
(under) expenditures
( 211,852)
( 177,401)
34,451
( 193,545)
other financing sources (uses):
Operating transfers in 175,000
Excess of revenues and other
sources over (under)
expenditures and other uses ($ 36,852)
Fund balance - beginning
Fund balance (deficit) -
ending ($
175,000 -
2,401) $ 34,451
306
2,095)
193,545
306
$ 306
52
EXHIBIT D-7
CITY OF WICHITA FALLS, TEXAS
HOTEL/MOTEL TAX FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1989 AND 1988
ASSETS
Cash and short-term investments
Receivables:
Taxes and assessments
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
other liabilities
Fund balance:
Unreserved:
Undesignated
Total liabilities and fund balance
1989 1988
$ 11,042 $ 10,694
184,479 156,554
$ 195,521 $ 167,248
$ 555 $ -
194,966 167,248
$ 195,521 $ 167,248
53
EXHIBIT D-8
CITY OF WICHITA FALLS, TEXAS
HOTEL/MOTEL TAX FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
1989
variance -
Favorable
Budqet
Actual
(Unfavorable)
Revenues:
Taxes
$ 565,000
$ 609,553
$ 44,553
Miscellaneous revenue
12,000
941
( 11,059)
Total revenues
577,000
610,494
33,494
Expenditures:
Current:
Administrative services
division 409,000 407,776 1,224
Excess of revenues over
(under) expenditures 168,000 202,718 34,718
other financing sources (uses):
operating transfers out ( 175,000) ( 175,000) -
Excess of revenues and other
sources over (under)
1988
Actual
$ 587,386
9,174
596,560
559,469
37,091
( 193,545)
expenditures
and other uses ($
7,000) 27,718 $ 34,718
( 156,454)
Fund balance -
beginning
167,248
323,702
Fund balance -
ending
$ 194,966
$ 167,248
54
EXHIBIT D-9
CITY OF WICHITA FALLS, TEXAS
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1989 AND 1988
1989 1988
ASSETS
Receivables:
Government agencies $1,655,417 $2,011,450
Prepaid items 18,030 18,732
Total assets $1.673,447 $2,030,182
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
$ 66,522
$ 140,547
Accrued payroll
2,014
2,374
Payable to other City funds
15,515
109,266
other liabilities
187
47,272
Total liabilities
84,238
299,459
Fund balance:
Reserved for encumbrances
855,397
2,568
Reserved for prepaid items
18,030
18,732
Unreserved:
Designated for subsequent years
expenditures
715,782
1,709,423
Total fund balance
1,589,209
1,730,723
Total liabilities and fund balance
$1,673,447
$2,030,182
55
EXHIBIT D-10
CITY OF WICHITA FALLS, TEXAS
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Revenues:
Intergovernmental revenue
Miscellaneous revenue
Total revenues
Expenditures:
Current:
Administrative services
division
Parks and recreation
division
Public works division
Health division
Traffic and transporta-
tion division
capital outlay
Total expenditures
Excess of revenues over
(under) expenditures
Fund balance - beginning
Fund balance - ending
1989
Variance -
Favorable 1988
Budqet Actual (Unfavorable) Actual
$ 1,243,632 $ 1,203,000 ($ 40,632) $ 1,269,000
- 6,262 6,262 22
1,243,632 1,209,262 ( 34,370) 1,269,022
420,130
373,091
47,039
417,265
106,874
38,875
67,999
124,690
1,845,909
835,864
1,010,045
621,759
92,107
87,717
4,390
84,428
408,537
11,619
396,918
195,413
60,588
3,610
56,978
-
2,934,145
1,350,776
1,583,369
1,443,555
($ 1,690,513) ( 141,514)
1,730,723
$ 1,589,209
,1,548,999
( 174,533)
1,905,256
$ 1,730,723
56
EXHIBIT D-11
CITY OF WICHITA FALLS, TEXAS
SPECIAL REVENUE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1989 AND 1988
ASSETS
Cash and short-term investments
Receivables:
Other
Prepaid items
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
other liabilities
Total liabilities
Fund balance:
Reserved for encumbrances
Reserved for prepaid items
Unreserved:
Designated for subsequent years
expenditures
Total fund balance
Total liabilities and fund balance
1989 1988
$ 564,737 $ 442,680
4,277 -
90 -
$ 569,104 $ 442,680
$ 9,660
7,504
17,164
9,613
90
542,237
551,940
$ 569,104
$ 7,046
193
7,239
7,363
428,078
435,441
$ 442,680
57
EXHIBIT D-12
CITY OF WICHITA FALLS, TEXAS
SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
1989
variance -
Favorable
1988
Budqet
Actual
(Unfavorable)
Actual
Revenues:
Miscellaneous revenue
$ 335,605
$ 355,555
$ 19,950
$ 294,790
Expenditures:
Current:
Administrative services
division
97,345
44,179
53,166
65,974
Parks and recreation
division
444,180
174,223
269,957
206,677
Capital outlay
227,446
20,654
206,792
17,970
Total expenditures
768,971
239,056
529,915
290,621
Excess of revenues over
(under) expenditures
($ 433,366)
116,499
$ 549,865
4,169
Fund balance - beginning
435,441
431,272
Fund balance - ending
$ 551,940
$ 435,441
58
EXHIBIT D-13
CITY OF WICHITA FALLS, TEXAS
SECTION 8 HOUSING FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1989 AND 1988
ASSETS
Cash and short-term investments
Receivables:
Government agencies
Prepaid items
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Accrued payroll
Payable to other City funds
Payable to government agencies
other liabilities
Deferred revenue
Total liabilities
Fund balance:
Reserved for prepaid items
Unreserved:
Designated for subsequent years
expenditures
Undesignated
Total fund balance
Total liabilities and fund balance
1989 1988
$ 204,567 $ -
- 263,691
1 105,980
$ 204,568 $ 369,671
$ 594
$ 599
1,382
1,348
-
221,420
18,561
18,267
618
-
-
87,762
21,155
329,396
1 105,980
183,413 40,275
( 1) ( 105,980)
183,413 40,275
$ 204,568 $ 369,671
59
EXHIBIT D-14
CITY OF WICHITA FALLS, TEXAS
SECTION 8 HOUSING FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Revenues:
Intergovernmental revenue
Miscellaneous revenue
Total revenues
Expenditures:
Current:
Administrative services
division
capital outlay
Total expenditures
Excess of revenues over
expenditures
Fund balance - beginning
Fund balance - ending
1989
Budqet Actual
$ 1,633,152 $ 1,671,406
1,633,152 1,671,406
1,633,152
1,633,152
S -
1,528,268
1,528,268
143,138
40,275
183,413
variance -
Favorable
(Unfavorable)
$ 38,254
38,254
104,884
104,884
$ 143,138
1988
Actual
$ 1,367,824
74
1,367,898
1,316,852
10,771
1,327,623
40,275
S 40,275
60
EXHIBIT D-15
CITY OF WICHITA FALLS, TEXAS
RENTAL REHABILITATION PROGRAM FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1989 AND 1988
ASSETS
Receivables:
Government agencies
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Payable to other City funds
Total liabilities
Fund balance:
Unreserved:
Designated for subsequent years
expenditures
Total liabilities and fund balance
1989
$ 86,128
$ 86,128
86,127
$ 86,128
1988
$ 102,996
$ 102,996
$ 9,230
1,630
10,860
92,136
1S 102,996
61
EXHIBIT D-16
CITY OF WICHITA FALLS, TEXAS
RENTAL REHABILITATION PROGRAM FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Revenues:
Intergovernmental revenue
Expenditures:
Current:
Administrative services
division
Excess of revenues over
(under) expenditures
Fund balance - beginning
Fund balance - ending
Budqet
$ 184,000
246,136
($ 62,136)
1989
variance -
Favorable 1988
Actual (Unfavorable) Actual
$ 154,000 ($ 30,000) $ 186,661
160,009 86,127 114,776
6,009) $ 56,127 71,885
92,136 20,251
$ 86,127 $ 92,136
62
Wichi �s
TEXAS\\\�\�
DEBT SERVICE FUND
The Debt Service Fund, also known as the Interest and Sinking Fund, is
established by ordinances authorizing the issuance of general obligation
bonds to provide for the payment of bond principal and interest. An ad
valorem tax rate and tax levy are required to be computed and levied
which will be sufficient to produce the funds required to pay principal
and interest as they come due. This fund is also used to provide for
the payment of paying agent fees.
EXHIBIT E-1
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1989 AND 1988
ASSETS
Restricted assets:
Cash and short-term investments
Receivables:
Taxes (net of allowance for uncollectible
taxes of $130,545 and $189,322)
Total assets
LIABILITIES AND FUND BALANCE
Liabilities payable from restricted assets:
Accounts payable - trade
Deferred revenue
Total liabilities payable from
restricted assets
Fund balance:
Designated for debt service
Total liabilities and fund balance
1989 1988
$ 566,089 $ 389,655
394,250 327,611
$ 960,339 $ 717,266
$ - $ 370
375,539 316,473
375,539 316,843
584,800 400,423
$ 960,339 $ 717,266
63
EXHIBIT E-2
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Revenues:
Taxes:
Ad valorem taxes
Miscellaneous:
Interest
Total revenues
Expenditures:
Principal retirement
Interest and paying
agent fees
Total expenditures
Excess of revenues over
expenditures
Fund balance - beginning
Fund balance - ending
1989
variance -
Favorable
Budqet Actual (Unfavorable)
$ 2,285,740 $ 2,354,692 $ 68,952
5,000 117,109 112,109
2,290,740 2,471,801 181,061
1988
Actual
$ 2,363,809
55,931
2,419,740
635,000 635,000 - 605,000
1,655,740 1,652,424 3,316 1,683,618
2,290,740 2,287,424 3,316 2,288,618
$ - 184,377 $ 184,377 131,122
400,423 269,301
$ 584,800 $ 400,423
64
WichitaC Is
TEXAS\C
CAPITAL PROJECTS FUNDS
The capital Projects Funds are used to account for financial resources
to be used for the acquisition or construction of major capital
facilities (other than those financed by Proprietary Funds). The six
Capital Projects Funds are as follows:
1980 General Improvements
This fund was established to account for the projects financed by the
1980 General obligation Bonds. significant projects accounted for
in this fund included drainage improvements, installation of traffic
control equipment, and improvements to the Central services Complex.
1981 C.O. General Improvements
This fund was established to account for the projects financed by the
1981 Certificates of obligation. significant projects accounted for
in this fund included the construction of a solid waste transfer
station and the improvements to Holliday Creek designed to increase
flood control capabilities.
1981 G.O. General Improvements
This fund was established to account for the projects financed by the
1981 General obligation Bonds. Significant projects accounted for
in this fund included street improvements and the construction of a
storm drain.
1982 General Improvements
This fund was established to account for the projects financed by the
1982 General obligation Bonds. Significant projects accounted for
in this fund included park improvements, street improvements and the
construction of a softball complex.
1985 Holliday Creek Protect
This fund was established to account for a single project financed
by the 1985 General obligation Bonds. The project is designed to
increase flood control capabilities in the Holliday Creek area.
Capital Improvement Assessments
This fund was established to account for special assessments which
are capital in nature and enhance the utility, accessibility, or
aesthetic value of the affected properties. significant projects
accounted for in this fund are streets and sidewalks.
EXHIBIT F-1
CITY OF WICHITA FALLS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1989
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1988
1985
1980
1981
1981
1982
Holliday
Capital
General
C.O. General
G.O. General
General
Creek
Improvement
Totals
Improvements
Improvements
Improvements
Improvements
Proiect
Assessments
1989
1988
ASSETS
Cash and short-term investments
$1,313,809
$458,126
$1,948,327
$1,198,224
$6,185,717
$487,089
$11,591,292
$11,571,293
Receivables:
Capital improvement assessments
-
-
-
-
-
446,531
446,531
454,730
Other
678
237
1,007
619
2,071
252
4,864
10,379
Total assets
$1,314,487
$458,363
$1,949,334
$1,198,843
$6,187,788
$933,872
$12,042,687
$12,036,402
LIABILITIES AND FUND BALANCE
cn
Liabilities:
Accounts payable - trade
$ -
$ -
$ -
$ -
$ 101,864
$ -
$ 101,864
$ 93,965
Other liabilities
-
-
-
20,218
643
4,550
25,411
74,430
Deferred revenue
-
-
-
-
-
446,532
446,532
454,730
Total liabilities
-
-
-
20,218
102,507
451,082
573,807
623,125
Fund balance:
Reserved for encumbrances
-
-
-
-
1,639,923
-
1,639,923
2,600,151
Unreserved:
Designated for subsequent
years expenditures
1,314,487
458,363
1,949,334
1,178,625
4,445,358
482,790
9,828,957
8,813,126
Total fund balance
1,314,487
458,363
1,949,334
1,178,625
6,085,281
482,790
11,468,880
11,413,277
Total liabilities and fund balance
$1,314,487
$458,363
$1,949,334
$1,198,843
$6,187,788
$933,872
$12,042,687
$12,036,402
ON
ON
Revenues:
Miscellaneous:
Capital improvement
assessments
Interest
Other
Total revenues
Expenditures:
Park improvements
Central services complex
Softball complex
Holliday Creek improvements
Total expenditures
Excess of revenues over (under)
expenditures
Fund balance - beginning
Fund balance - ending
CITY OF
WICHITA FALLS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN
FUND BALANCE
FOR THE YEAR
ENDED SEPTE14BER
30, 1989
WITH COMPARATIVE TOTALS
FOR THE YEAR ENDED SEPTEMBER
30, 1988
1985
1980
1981
1981
1982
Holliday
Capital
General
C.O. General
G.O. General
General
Creek
Improvement
Improvements
Improvements
Improvements
Improvements
Project
Assessments
$ -
$ -
$ -
$ -
$ -
$ 8,199
97,059
31,594
144,788
88,801
312,961
40,473
4,215
10,000
1,440
-
205,467
16
101,274
41,594
146,228
88,801
518,428
48,688
-
-
-
12,153
-
-
-
-
-
-
877,257
-
-
-
-
12,153
877,257
101,274
41,594
146,228
76,648
( 358,829)
48,688
1,213,213
416,769
1,803,106
1,101,977
6,444,110
434,102
$1,314,487
$458,363
$1,949,334
$1,178,625
$6,085,281
482 790
EXHIBIT F-2
Totals
1989 1988
$ 8,199
$ 20,530
715,676
715,594
221,138
50,000
945,013
786,124
12,153
6,520
-
13,954
-
2,500
877,257
1,268,201
889,410
1,291,175
55,603 ( 505,051)
11,413,277 11,918,328
$11,468,880 $11,413,277
Wichita is
TEXAS '
ENTERPRISE FUNDS
Enterprise Funds are used to account for operations that are financed
and operated in a manner similar to private business enterprises. The
intent of the governing body is that the cost of providing the service
to the general public on a continuing basis be recovered primarily
through user charges. The Enterprise Funds include the following:
Airport Fund
The Airport Fund was established to account for the operating
revenues and expenses of the Wichita Falls Municipal Airport. The
airport is operated on land leased from the Department of Defense.
Commercial and private aviation share airport facilities and runways
owned by Sheppard Air Force Base.
Transit Fund
The Transit Fund accounts for the operation of the Wichita Falls
Transit System. The system is supported from passenger fees,
subsidies from the General Fund and subsidies from the Urban Mass
Transportation Administration.
sanitation Fund
The Sanitation Fund was established to account for the operating
revenues and expenses associated with the collection of residential
garbage and refuse produced by commercial establishments within the
city of Wichita Falls. Although a program of the City government,
the Sanitation Fund is operated as a separate enterprise and the
accounting records are maintained on an enterprise fund basis.
Water and Sewer Fund
The water and Sewer Fund was established for control of the operating
revenues and expenses of the city of Wichita Falls water and sewer
utility. To comply with bond ordinances and accounting policies, a
number of funds have been established to account for water and sewer
maintenance and operations, billing and collection, extensions and
improvements, and debt service. The various funds used to account
for the different functions have been combined into the water and
Sewer Fund as presented in the financial statements.
rn
V
ASSETS
Current assets:
Cash and short-term investments
Receivables:
Customer and trade
Government agencies
Other
Inventory
Prepaid items
Total current assets
Restricted assets:
Cash and short-term investments
Other
Total restricted assets
Plant and equipment:
Land and betterments
Buildings, systems and improvements
Machinery and equipment
Furniture and fixtures
Motor vehicles and equipment
Construction in progress
Less accumulated depreciation
Total plant and equipment
Other assets:
Deferred charges
Total assets
EXHIBIT G-1
(Page 1 of 2)
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1989
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1988
Water and
Totals
Airport
Transit
Sanitation
Sewer
1989
1988
$ 127,729
$ 1,863
$2,356,727
$ 6,760,801
$ 9,247,120
$ 6,593,748
21,426
-
502,822
1,198,651
1,722,899
1,718,822
-
160,445
-
-
160,445
186,615
73,142
-
7,282
15,213
95,637
44,646
-
-
-
562,712
562,712
562,097
186
5
2,270
2,062
4,523
8,339
222,483
162,313
2,869,101
8,539,439
11,793,336
9,114,267
-
-
-
6,541,269
6,541,269
9,249,344
-
-
-
97,754
97,754
142,181
-
-
-
6,639,023
6,639,023
9,391,525
1,468,175
61,925
653,692
22,414,888
24,598,680
24,573,404
1,451,662
626,868
2,298,370
69,415,042
73,791,942
61,494,239
13,608
67,822
92,206
2,548,787
2,722,423
2,679,738
12,477
6,128
4,750
24,805
48,160
46,456
-
-
-
3,670
3,670
3,670
-
-
-
2,099,148
2,099,148
9,446,967
2,945,922
762,743
3,049,018
96,506,340
103,264,023
98,244,474
( 1,080,063)
( 80,490)
( 396,997)
( 31,111,890)
( 32,669,440)
( 30,839,511)
1,865,859
682,253
2,652,021
65,394,450
70,594,583
67,404,963
-
-
-
617,893
617,893
658,130
$2,088,342
$844,566
$5,521,122
$81,190,805
$ 89,644,835
$86,568,805
EXHIBIT G-1
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING BALANCE SHEET (CONT'D.)
SEPTE14BER 30, 1989
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1988
Water and
Totals
Airport
Transit
Sanitation
Sewer
1989
1988
LIABILITIES AND FUND EQUITY
Current liabilities payable from current assets:
Accounts payable - trade
$ 5,950
$ 7,151
$ 109,199
$ 318,797
$ 441,097
$ 718,981
Accrued payroll
1,184
21,197
82,530
150,489
255,400
238,022
Payable to other City funds
-
160,259
-
-
160,259
187,342
Government agencies
2,318
-
-
-
2,318
1,506
Other liabilities
73,233
7,076
82,767
163,076
180,558
Total current liabilities payable
from current assets
82,685
188,607
198,805
552,053
1,022,150
1,326,409
Current liabilities payable from restricted assets:
Contracts and trade
-
-
-
222,439
222,439
765
rn Revenue bonds - current maturities
-
-
-
640,000
640,000
600,000
00 Accrued interest - revenue bonds
-
-
-
302,458
302,458
308,558
Matured bonds payable
-
-
-
3,000
3,000
3,000
Deferred revenue
-
-
54,000
54,000
108,000
Total current liabilities payable
from restricted assets
-
-
1,221,897
1,221,897
1,020,323
Long-term liabilities:
Payable to U.S. Government
-
-
-
1,076,623
1,076,623
1,093,040
Revenue bonds, less current maturities
-
-
-
22,195,000
22,195,000
22,835,000
Total long-term liabilities
-
-
-
23,271,623
23,271,623
23,928,040
Long-term liabilities payable from restricted assets:
Customer deposits
-
-
-
1,035.217
1,035,217
984,753
Total liabilities
82,685
188,607
198,805
26,080,790
26,550,887
27,259,525
Fund equity:
Contributed capital
2,277,385
818,745
2,907,626
16,155,947
22,159,703
21,988,951
Retained earnings:
Reserved for revenue bond debt service
-
-
-
2,867,097
2,867,097
2,905,568
Unreserved
( 271,728)
( 162,786)
2,414,691
36,086,971
38,067,148
34,414,841
Total retained earnings (deficit)
( 271,728)
( 162,786)
2,414,691
38,954,068
40,934,245
37,320,409
Total fund equity
2,005,657
655,959
5,322,317
55,110,015
63,093,948
59,309,360
Total liabilities and fund equity
$2,088,342
$844,566
$5,521,122
$81,190,805
$89,644,835
$86,568,885
rn
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING STATE14ENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTE14BER 30, 1988
Operating revenues:
Charges for services
Rents, concessions and other
Total operating revenues
Operating expenses:
Personnel services
Supplies and materials
Maintenance and repairs
Utilities and other services
Insurance and contract support
Depreciation and amortization
Total operating expenses
Operating income (loss)
Non -operating revenues (expenses):
Interest income
Gain (loss) on sale of assets
Litigation proceeds
Interest expense and paying agent fees
Contributions from operating grants
Total non -operating revenues (expenses)
Income (loss) before operating transfers
Operating transfers:
Operating transfers in
Operating transfers out
Net operating transfers
Net income (loss)
Retained earnings (deficit) - beginning
Retained earnings (deficit) - ending
Water and
Airport Transit Sanitation Sewer
$ 17,013 $150,955 $5,399,549 $12,190,329
183,882 3,000 1,452 175,483
200,895 153,955 5,401,001 12,365,812
EXHIBIT G-2
Totals
1989 1988
$17,757,846 $17,659,546
363,817 326,457
18,121,663 17,986,003
28,970
336,235
1,732,114
2,993,006
5,090,325
4,924,630
3,156
48,301
128,579
651,720
831,756
651,800
97,777
62,603
2,299,915
1,795,727
4,256,022
5,015,457
96,420
23,499
183,555
1,928,874
2,232,348
2,306,175
2,909
24,320
166,676
322,399
516,304
514,913
91,734
14,585
58,785
1,715,262
1,880,366
1,692,622
320,966
509,543
4,569,624
9,406,988
14,807,121
15,105,597
( 120,071)
( 355,588)
831,377
2,958,824
3,314,542
2,880,406
4,232
-
178,081
1,178,256
1,360,569
970,852
-
-
250
( 145)
105
( 1,764)
-
-
-
52,000
52,000
423,709
( 10)
-
-
( 800,707)
( 800,717)
( 716,105)
-
160,445
-
-
160,445
286,066
4,222
160,445
178,331
429,404
772,402
962,758
( 115,849)
( 195,143)
1,009,708
3,388,228
4,086,944
3,843,164
-
180,558
-
-
180,558
228,224
-
-
( 380,692)
( 272,974)
( 653,666)
( 630.270)
-
180,558
( 380,692)
( 272,974)
( 473,108)
( 402,046)
( 115,849)
( 14,585)
629,016
3,115,254
3,613,836
3,441,118
( 155,879)
( 148,201)
1,785,675
35,838,814
37,320,409
33,879,291
($ 271,728)
($162,786)
$2,414,691
$38,954,068
$40,934,245
$37,320,409
V
0
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Sources of funds:
Net income (loss)
Items not requiring (providing) working capital:
Depreciation and amortization
Lose on sale of assets
Working capital provided (used) by operations
Contributed capital
Customer deposits, net
Decrease in restricted assets
Increase in current liabilities payable from
restricted assets
Total sources of funds
Application of funds:
Purchase of fixed assets
Retirement of revenue bonds
Payment of U.S. Government obligation
Decrease in current liabilities payable from
restricted assets
Total application of funds
Net increase (decrease) in working capital
Summary of net changes in working capital:
Increase (decrease) in current assets:
Cash and short-term investments
Receivables:
Customer and trade
Government agencies
Other
Inventory
Prepaid items
Net increase (decrease) in current assets
Increase (decrease) in current liabilities:
Accounts payable - trade
Accrued payroll
Payable to other City funds
Payable to Government agencies
Other liabilities
Net increase (decrease) in current liabilities
Net increase (decrease) in working capital
EXHIBIT G-3
Water and
Totals
Airport
Transit
Sanitation
Sewer
1989
1988
($ 115,849)
($ 14,585)
$
629,016
$ 3,115,254
$ 3,613,836
$
3,441,118
91,734
14,585
58,785
1,715,262
1,880,366
1,692,622
-
-
-
145
145
1,764
( 24,115)
-
687,801
4,830,661
5,494,347
5,135,504
-
-
-
170,752
170,752
228,970
-
-
-
50,464
50,464
62,668
-
-
-
2,752,502
2,752,502
524,582
-
-
-
201,574
201,574
-
( 24,115)
-
687,801
8,005,953
8,669,639
5,951,724
540
-
6,527
5,022,827
5,029,894
4,436,705
-
-
-
640,000
640,000
600,000
-
-
-
16,417
16,417
15,900
-
-
-
-
-
128,547
540
-
6,527
5,679,244
5,686,311
5,181,152
($ 24,655)�
$
681,274
$ 2,326,709
$ 2,983,328
$
770,572
($ 13,519)
$ 1,863
$
720,944
$ 1,944,084
$ 2,653,372
$
1,087,007
( 7,811)
-
21,281
( 9,393)
4,077
(
32,754)
-
( 26,170)
-
-
( 26,170)
27,800
73,142
-
3,265
( 25,416)
50,991
(
41,405)
-
-
-
615
615
62,189
156
( 270)
336
( 4,038)
( 3,816)
4,982
51,968
( 24,577)
745,826
1,905,852
2,679,069
1,107,819
2,419
( 2,673)
58,103
( 335,734)
( 277,885)
320,537
208
5,178
6,438
5,554
17,378
(
123,258)
-
( 27,082)
-
-
( 27,082)
30,130
812
-
-
-
812
1,506
73,184
-
11
( 90,677)
( 17,482)
108,332
76,623
( 24,577)
64,552
( 420,857)
( 304,259)
337,247
($ 24,655)
$ -
$
681,274
$ 2,326,709
$ 2,983,328
$
770,572
Wichita 1S
TEXAS
INTERNAL SERVICE FUND
The Internal service Fund is used to account for the financing of goods
or services provided by one department or agency to other departments
or agencies of the city on a cost -reimbursement basis.
The city's Internal Service Fund accounts for the costs associated with
the operation, maintenance and replacement of the city's vehicle and
equipment fleet. city departments which use the vehicles and equipment
are charged a monthly rental fee based upon actual operating costs
associated with each class of vehicle or equipment.
EXHIBIT H-1
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1989 AND 1988
ASSETS
Current assets:
cash and short-term investments
Inventory
Prepaid items
Total current assets
Plant and equipment:
Land and betterments
Buildings, systems and improvements
Furniture and fixtures
Motor vehicles and equipment
Less accumulated depreciation
Total plant and equipment
Total assets
LIABILITIES AND FUND EQUITY
current liabilities:
Accounts payable - trade
Accrued payroll
Total current liabilities
Fund equity:
contributed capital
Retained deficit
Total fund equity
Total liabilities and fund equity
1989 1988
$ 461,552 $ 851,460
280,384 294,053
63 487
741,999 1,146,000
433,658 433,658
4,008,948 4,008,948
5,974 5,974
15,379,165 14,485,375
19,827,745 18,933,955
8,149,602) ( 7,686,282)
11,678,143 11,247,673
$12,420,142 $12,393,673
$ 271,337
$ 296,687
62,111
62,023
333,448
358,710
12,376,706
12,060,118
( 290,012)
( 25,155)
12,086,694
12,034,963
12 420,142
�12,393,673
71
EXHIBIT H-2
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Operating revenues:
Rents, concessions and other
Operating expenses:
Personnel services
Supplies and materials
Maintenance and repairs
Utilities and other services
Insurance and contract support
Depreciation and amortization
Total operating expenses
operating income
Non -operating revenues (expenses):
Interest income
Loss on sale of assets
Total non -operating revenues (expenses)
Income before operating transfers
Operating transfers:
Operating transfers out
Net income (loss)
Retained deficit - beginning
Retained deficit - ending
1989 1988
$5,246,378 $5,478,984
1,033,928
1,062,218
884,893
905,319
1,297,791
1,130,581
206,304
258,202
24,525
2,759
1,710,900
1,579,623
5,158,341
4,938,702
88,037 540,282
- 7,244
( 40,460) ( 42,372)
( 40,460) ( 35,128)
47,577 505,154
( 312,434)
( 264,857)
( 25,155)
($ 290,012)
( 312,434)
192,720
( 217,875)
($ 25,155)
72
EXHIBIT H-3
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Sources of funds:
Net income (loss)
Items not requiring working capital:
Depreciation and amortization
Loss on sale of assets
Working capital provided by operations
contributed capital
Proceeds from sale of assets
Total sources of funds
Application of funds:
Purchase of fixed assets
Net increase (decrease) in working capital
summary of net changes in working capital:
Increase (decrease) in current assets:
cash and short-term investments
Receivables:
other
Inventory
Prepaid items
Net increase (decrease)
in current assets
Increase (decrease) in current liabilities:
Accounts payable - trade
Accrued payroll
Net increase (decrease)
in current liabilities
Net increase (decrease) in working capital
1989 1988
($ 264,857) $ 192,720
1,710,900
1,579,623
40,460
42,372
1,486,503
1,814,715
316,588
253,214
157,271
87,885
1,960,362
2,155,814
2,339,101
2,105,691
($ 378,739)
$ 50,123
($ 389,908) $ 99,535
- ( 347)
( 13,669) ( 37,613)
( 424) ( 230)
( 404,001) 61,345
( 25,350) 35,679
88 ( 24,457)
( 25,262) 11,222
($ 378,739) $ 50,123
73
TRUST AND AGENCY FUNDS
Fiduciary Funds account for assets held by the City of Wichita Falls in
a trustee capacity or as an agent for other governmental units and/or
other funds. Trust and Agency Funds include the following:
Employee Benefit Trust
This expendable trust fund is used to account for and administer
group health insurance, which is self -insured by the city, and life
insurance for employees and covered dependents.
Wichita Falls Reinvestment Zone $1
This expendable trust fund is used to account for ad valorem taxes
levied on captured increments of growth in real property values in
a designated zone. The tax revenues derived from this increment are
to be spent on public improvements within this designated zone.
Social Security Fund
This agency fund is used to account for the collection and payment
of social security (FICA) taxes.
Payroll Fund
This agency fund is used to account for the collection of payroll
gross amounts from the various City funds and the distribution of
payroll checks to city employees.
Tax Collection Fund
This agency fund is used to account for the collection and payment
of ad valorem taxes to the City Is General and Debt Service Funds, the
Wichita Falls Independent School District, and Midwestern State
University.
Accounts Payable Fund
This agency fund is used to account for the collection of monies from
the various City funds, and the payment of those monies to vendors
for goods and services rendered.
Deferred Compensation Fund
This agency fund is used to account for contributions made by the
city and employees to a tax deferred savings plan and the subsequent
disbursement of contributions and interest earned upon retirement,
death or termination of employment.
EXHIBIT I-1
CITY OF WICHITA FALLS, TEXAS
TRUST AND AGENCY FUNDS
COMBINING BALANCE SHEET
SEPTMEH 30, 1989
WITH COMPARATIVE TOTALS AT SEPTOUMM 30, 1980
Expendable
Trust Funds
Aqencv Funds
Employee
Wichita Falls
Benefit
Reinvestment
Social
Tax
Accounts
Deferred
Totals
Trust
Zone it
Security
Payroll
Collection
Payable
Compensation
1989
1988
ASSETS
Cash and short-term investments
$167,823
$13,114
$116,012
$73,644
$ 132,524
$ -
$834,143
$1,337,260
$ 980,348
Receivables:
Taxes and assessments
-
1,435
-
-
2,834,523
-
-
2,835,958
2,675,399
Other City funds
-
-
-
-
-
-
-
-
1,341
Government agencies
16,556
-
-
-
-
-
-
16,556
-
Other
'
_
125
Total assets
$1846379
$14,549
$116,012
, 73644 $
12,967, 047
1 -
1834, 143
14,189,774
13,657,213
LIABILITIES AND FUND BALANCE
v Liabilities:
41 Accounts payable - trade
$ 19,413
$ -
$116,012
$73,644
5 130,824
$ -
$ -
$ 339,893
$ 154,507
Payable to other City funds
-
-
-
-
-
-
-
-
1,341
Payable to government agencies
-
-
-
_
2,834,523
_
_
2,834,523
2,675,217
Estimated health claims payable
186,863
-
-
-
-
-
-
186,863
193,027
Other liabilities
426
-
-
-
1,700
834,143
836,269
689,427
Total liabilities
206,702
-
116,012
73,644
2,967,047
-
834,143
4,197,548
3,713,519
Fund balance (deficit):
Designated for subsequent years expenditures
-
14,549
-
-
-
-
-
14,549
42,069
Undesignated
( 22,323)
-
-
-
-
-
_
( 22,323)
( 98,375)
Total fund balance (deficit)
( 22,323 1
14,549
-
7,774)
( 56,306)
Total liabilities and fund balance
11841379
114, 549
$116,012
173, 644
$2,967,047
$
$834, 143
$4,189,77{
13, 657,213
EXHIBIT I-2
CITY OF WICHITA FALLS, TEXAS
EXPENDABLE TRUST FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 1989
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1988
Employee
Wichita Falls
Benefit
Reinvestment
Totals
Trust
Zone $1
1989
1988
Revenues:
Ad valorem taxes
$ -
$10,744
$ 10,744
$ 5,344
contributions
2,110,748
-
2,110,748
1,926,449
Total revenues
2,110,748
10,744
2,121,492
1,931,793
Expenditures:
Current:
Administrative services
division
2,034,696
38,264
2,072,960
2,099,343
Excess of revenues over
(under)
expenditures
76,052
( 27,520)
48,532
( 167,550)
other financing sources
(uses):
operating transfers
in
-
-
-
60,000
Excess of revenues and
other
financing sources over
(under)
expenditures and uses
76,052
( 27,520)
48,532
( 107,550)
Fund balance (deficit)
-
beginning
( 98,375)
42,069
( 56,306)
51,244
Fund balance (deficit)
- ending
( 22,323)
$14,549
($ 7,774)
($ 56,306,)
75
EXHIBIT I-3
(Page 1 of 3)
CITY OF WICHITA FALLS, TEXAS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED SEPTEMBER 30, 1989
Balance Balance
October 1, September 30,
1988 Additions Deductions 1989
SOCIAL SECURITY FUND
ASSETS
Cash and short-term investments $
Receivables:
other City funds
Government agencies
Total assets $
LIABILITIES
A t bl d
ccoun s paya e - tra e $ -
Payable to other City funds -
Total liabilities $ -
PAYROLL FUND
ASSETS
Cash and short-term investments $ -
Receivables:
Other city funds -
Government agencies -
Total assets $
LIABILITIES
Accounts payable - trade $
Payable to other City funds
Total liabilities $
$ 3,018,889 $ 2,902,877 $ 116,012
2,976,079 2,976,079 -
43,292 43,292 -
6,038,260 $ 5,922,248 $ 116,012
$ 3,018,889 $ 2,902,877 $ 116,012
2,902,877 2,902,877 -
$ 5,921,766 $ 5,805,754 $ 116,012
$ 22,574,889 $ 22,501,245 $ 73,644
21,919,251 21,919,251 -
576,471 576,471 -
$ 45,070„611 $ 44,996,967 73,644
$ 73,644 $ - $ 73,644
1,515,974 1,515,974 -
- $ 1,589,618 $ 1,515,974 $ 73,644
76
EXHIBIT I-3
(Page 2 of 3)
CITY OF WICHITA FALLS, TEXAS
AGENCY
FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
(CONT'D.)
FOR
THE YEAR ENDED
SEPTEMBER 30,
1989
Balance
Balance
October 1,
September 30,
1988
Additions
Deductions
1989
TAX COLLECTION FUND
ASSETS
Cash and short-term investments
$ 66,766
$ 35,027,251
$ 34,961,493
$ 132,524
Receivables:
Taxes and assessments
2,675,217
20,217,067
20,057,761
2,834,523
Total assets
$2,741,983
$ 55,244,318
55,019,254
$2,967,047
LIABILITIES
Accounts payable - trade
$ 63,144
$ 19,875,825
$ 19,808,145
$ 130,824
Payable to government agencies
2,675,217
60,296,685
60,137,379
2,834,523
Payable to other City funds
-
19,669,139
19,669,139
-
other liabilities
3,622
1,700
3,622
1,700
Total liabilities
2 741,983
99,843,349
$ 99,618,285
2 967,047
ACCOUNTS PAYABLE FUND
ASSETS
Cash and short-term investments $ - $ 51,354,462 $ 51,354,462 $ -
Receivables:
Other City funds 1,341 51,449,716 51,451,057 -
Total assets i 1,341 $102,804,178 $102,805,519 $ -
LIABILITIES
Payable to other City funds $ 1,341 $ 114,443 $ 115,784 $ -
Total liabilities $ 1,341 § 114,443 $ 115,784. $�
77
EXHIBIT I-3
(Page 3 of 3)
CITY OF WICHITA FALLS, TEXAS
AGENCY
FUNDS
COMBINING
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
(CONT'D.)
FOR THE YEAR ENDED
SEPTEMBER 30,
1989
Balance
Balance
October 1,
September 30,
1988
Additions
Deductions
1989
DEFERRED
COMPENSATION FUND
ASSETS
Cash
and short-term investments
$ 685,370
$ 148,773
$ -
$ 834,143
Total
assets
$ 685,370
$ 148,773
$ -
$ 834,143
LIABILITIES
other
liabilities
$ 685,370
$ 148,773
$ -
$ 834,143
Total
liabilities
$ 685,370
$ 148,773
S -
$ 834,143
TOTALS - ALL AGENCY FUNDS
Cash and short-term investments
$ 752,136
$112,124,264
$111,720,077
$1,156,323
Receivables:
Taxes and assessments
2,675,217
20,217,067
20,057,761
2,834,523
Other City funds
1,341
76,345,046
76,346,387
-
Government agencies
-
619,763
619,763
-
Total assets
3 428„694
$209,306,140
$208,743,988
$3,990,846
LIABILITIES
Accounts payable - trade
$ 63,144
$ 22,968,358
$ 22,711,022
$ 320,480
Payable to other City funds
1,341
24,202,433
24,203,774
-
Payable to government agencies
2,675,217
60,296,685
60,137,379
2,834,523
other liabilities
688,992
150,473
3,622
835,843
Total liabilities
$3,428„694
$107,617,949
1$ 07,055,797
$3,990,846
78
SUPPORTING SCHEDULES
EXHIBIT J-1
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDED DEBT AND INTEREST MATURITIES
SEPTEMBER 30, 1989
Fiscal Year
General Obliqation
Bonds
Water and
Sewer Revenue
Bonds
Ending
Serial Bond
Interest
Total Bonds
Serial Bond
Interest
Total Bonds
September 30,
Maturities
on Bonds
and Interest
Maturities
on Bonds
and Interest
Total
1990
$ 670,000
$ 1,615,815
$ 2,285,815
$ 640,000
$ 1,814,748
$ 2,454,748
$ 4,740,563
1991
710,000
1,575,615
2,285,615
680,000
1,773,788
2,453,788
4,739,403
1992
755,000
1,531,240
2,286,240
725,000
1,728,228
2,453,228
4,739,468
1993
805,000
1,482,165
2,287,165
775,000
1,677,478
2,452,478
4,739,643
1994
860,000
1,427,827
2,287,827
835,000
1,621,678
2,456,678
4,744,505
1995
920,000
1,367,627
2,287,627
895,000
1,559,888
2,454,888
4,742,515
1996
985,000
1,300,927
2,285,927
960,000
1,491,868
2,451,868
4,737,795
1997
1,060,000
1,227,052
2,287,052
1,035,000
1,416,987
2,451,987
4,739,039
1998
1,140,000
1,145,963
2,285,963
1,120,000
1,335,222
2,455,222
4,741,185
1999
1,230,000
1,057,043
2,287,043
1,210,000
1,245,622
2,455,622
4,742,665
2000
1,330,000
959,873
2,289,873
1,305,000
1,148,217
2,453,217
4,743,090
2001
1,435,000
853,473
2,288,473
1,410,000
1,042,512
2,452,512
4,740,985
2002
1,550,000
737,955
2,287,955
1,525,000
928,302
2,453,302
4,741,257
2003
1,670,000
613,180
2,283,180
1,650,000
803,252
2,453,252
4,736,432
2004
1,805,000
477,910
2,282,910
1,785,000
667,952
2,452,952
4,735,862
2005
1,955,000
331,705
2,286,705
1,930,000
520,690
2,450,690
4,737,395
2006
2,115,000
172,373
2,287,373
2,090,000
361,465
2,451,465
4,738,838
2007
-
-
-
2,265,000
187,995
2,452,995
2,452,995
$20,995,000
$17,877,743
$38,872,743
$22,835,000
$21,325,892
$44,160,892
$83,033,635
00
0
General obligation bonds:
General Obligation
Refunding Bonds,
Series 1986
Total general obligation
bonds
Interest Rates
and (Dates)
5.0, 5.25, 5.5, 6.0,
6.25, 6.5, 6.75, 7.0,
7.25, 7.5, 7.65, 7.8,
7.9, 8.0, 8.05, 8.1,
8.15
(3/1, 9/1)
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE
SEPTE14BER 30, 1989
Final Annual
Issue Maturity Serial
Date Date Payments
7/01/86 9/01/06 $ 305,000 (1987)
605,000 (1988)
635,000 (1989)
670,000 (1990)
710,000 (1991)
755,000 (1992)
805,000 (1993)
860,000 (1994)
920,000 (1995)
985,000 (1996)
1,060,000 (1997)
1,140,000 (1998)
1,230,000 (1999)
1,330,000 (2000)
1,435,000 (2001)
1,550,000 (2002)
1,670,000 (2003)
1,805,000 (2004)
1,955,000 (2005)
2,115,000 (2006)
EXHIBIT J-2
(Page 1 of 2)
Bonds
Retired or
Authorized Issued Refunded Outstandinq
$22,540,000 $22,540,000 $ 1,545,000 $20,995,000
22,540,000 22,540,000 1,545,000 20,995,000
OD
Revenue bonds:
Water and Sewer System
Refunding Revenue
Bonds, Series 1986
Total revenue bonds
Total all bonds
Interest Rates
and (Dates)
5.0, 5.5, 6.1, 6.4,
6.7, 7.0, 7.2, 7.4,
7.6, 7.8, 7.9, 8.0,
8.05, 8.1, 8.2, 8.25,
8.3
(2/1, 8/1)
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE (CONT'D.)
SEPTEMBER 30, 1989
Final Annual
Issue Maturity Serial
Date Date Payments
7/01/86 8/01/07
$ 395,000 (1987)
575,000 (1988)
600,000 (1989)
640,000 (1990)
680,000 (1991)
725,000 (1992)
775,000 (1993)
835,000 (1994)
895,000 (1995)
960,000 (1996)
1,035,000 (1997)
1,120,000 (1998)
1,210,000 (1999)
1,305,000 (2000)
1,410,000 (2001)
1,525,000 (2002)
1,650,000 (2003)
1,785,000 (2004)
1,930,000 (2005)
2,090,000 (2006)
2,265,000 (2007)
EXHIBIT J-2
(Page 2 of 2)
Bonds
Retired or
Authorized Issued Refunded Outstandinq
24,405,000 24,405,000 1,570,000 22,835,000
24,405,000 24,405,000 1,570,000 22,835,000
$46,945,000 $46,945,000 $ 3,115,000 $43,830,000
EXHIBIT J-3
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE COVERAGE - REVENUE BONDS
SEPTEMBER 30, 1989
Water and Sewer Revenue Bonds:
Net income (Exhibit G-2)
Add:
Revenue bond interest expense and paying
agent fees
Depreciation and amortization
operating transfers out
Net earnings for determining debt service coverage
Total principal and interest requirements
Number of years remaining to pay bonds
Average annual principal and interest requirement
Average annual debt service coverage
Maximum principal and interest requirement
Maximum debt service coverage
$ 3,115,254
$ 764,121
1,715,262
272,974 2,752,357
$ 5,867,611
$44,160,893
18
$ 2,453,383
2.39
$ 2,456,678
2.39
82
EXHIBIT J-4
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
COMPARATIVE SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCES
SEPTEMBER 30, 1989 AND 1988
General Fixed Assets:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Motor vehicles and equipment
Construction in progress
Total general fixed assets
Investment in General Fixed Assets:
From general obligation bonds
From local revenues and contributions
From federal government contributions
From unidentified sources
Total investment in general fixed assets
1989
$14,418,475
14,182,741
3,695,289
440,047
91,198
648,983
$33,476,733
$ 734,066
3,922,046
2,157,555
26,663,066
$33,476,733
1988
$14,327,189
14,159,440
3,411,385
461,194
124,805
694,263
$33,178,276
$ 734,066
3,468,170
2,152,096
26,823,944
$33,178,276
83
00
A
General fixed assets,
October 1, 1988
Additions:
Expenditures from local
revenues and contributions
Expenditures from federal
government contributions
Completed construction
projects
Total additions
Total
Deductions:
Assets sold, traded or
retired
General fixed assets,
September 30, 1989
EXHIBIT J-5
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY SOURCES
FOR THE YEAR ENDED SEPTEMBER 30, 1989
Motor
Buildings
Machinery
Furniture
Vehicles
Land and
and
and
and
and
Construction
Total
Betterments
Improvements
Equipment
Fixtures
Equipment
In Proqress
$33,178,276
$14,327,189
$14,159,440
$3,411,385
$461,194
$124,805
$694,263
453,876
91,286
26,394
292,955
2,010
6,263
34,968
5,459
-
-
5,459
-
-
-
-
-
80,248
-
-
-
( 80,248)
459,335
91,286
106,642
298,414
2,010
6,263
( 45,280)
33,637,611
14,418,475
14,266,082
3,709,799
463,204
131,068
648,983
160,878
-
83,341
14,510
23,157
39,870
-
$33,476,733
$14,418,475
$14,182,741
$3,695,289
$440,047
$ 91,198
$648,983
e
EXHIBIT J-6
CIT£ OF WICHITA FALLS, TEXAS
GAL FIXED ASSETS
SCHEDULE OF G E0RAL FIXED ASSETS - BT FONCTION Alm ACTIVITr
SEPTEI®[ 30, 1989
Motor
Buildings
Machinery
Furniture
vehicles
Land and
and
and
and
and
Construction
Total
Betterments
Improvements
Equipment
Fixtures
Equipment
In Procress
Administrative services division:
Mayor and City Council
$ 12,863
S -
$ -
S 7,645
S 5,218
S -
$ -
General Administration
1,880,677
1,319,364
336,872
116,948
36,998
70,495
-
Legal and City Clerk
23,800
-
-
11,633
12,167
-
-
Personnel/Risk Management
94,373
-
-
85,072
9,301
-
Data Processing
726,745
-
-
710,671
16,074
-
-
Martin Luther Xing Center
372,042
-
349,839
6,259
15,944
-
-
Library
972,030
610,870
291,443
20,765
48,952
-
-
Municipal Court
578,791
230,000
312,788
25,509
10,494
-
-
Farmer's Market
946
-
-
-
946
-
-
Building Maintenance
15,153
-
-
10,659
4,494
-
-
Purchasing
4,420
-
-
2,700
1,720
-
-
Midtovu 2000
428,578
233,798
184,780
-
-
-
-
Auditorium/Activity Center
6,521,616
434,422
5,940,057
74,580
72,557
-
-
Community Development
84,964
78,358
6,269
337
-
-
-
Total administrative services division
11.706.998
2.906.812
7,422,048
1,072,778
234,865
70,495
-
Police division:
Police
4,540,280
11095,114
1.323.486
1,388,084
71,583
13,030
648,983
Fire division:
Fire
2.130,346
188.851
1,515,142
381,313
45,040
-
-
Parke and recreation division:
Parks
12,805,309
9,800, 050
2,775,021
220,944
9,294
-
-
Golf
148,302
112,539
27,544
8,219
-
-
-
Cemetery
28.040
15.212
-
12,828
-
-
-
Total parks and recreation division
12.961,651
9.927,801
2.802.565
241,991
9,294
-
-
Accounting/finance division:
Accounting/finance
32,076
-
-
16,141
15,935
-
-
Tax
15,052
-
-
11,596
3,456
-
-
Total accounting/finance division
47.128
-
-
27,737
19,391
-
-
Planning division:
Planning
89.215
-
-
68,298
14,654
6,263
-
Public works division:
Engineering
299,286
111,120
19,087
155,943
11,726
1,410
-
Inspection
62,263
13,059
-
45,118
4,086
-
_
Street Maintenance
196.084
29.937
86.373
74,476
5,298
-
Total public works division
557,633
154,116
105,460
275,537
21,110
1,410
-
Health division:
Health
1.294,224
111.231
976.775
188,434
17,784
-
-
Traffic and transportation division:
Traffic Engineering
124,149
34,550
37,265
49,349
2,985
-
-
Parking Meters
5.109
-
-
1,768
3,341
-
-
Total traffic and transportation division
129,258
34.550
37.265
51,117
6,326
-
-
Total general fixed assets
$33,476,733
$14,418,475
$14,182,741
12.6 695 289
$440,047
91 198
648 9a3
EXHIBIT J-7
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
SCHEDULE OF CHANGES
IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY
FOR
THE YEAR ENDED
SEPTEMBER 30,
1989
Beginning
Ending
Balance
Transfers
Balance
10/1/88
Additions
Deletions
In (Out)
9/30/89
Administrative services division:
Mayor and City Council
$ 12,863
$ -
$ -
$ -
$ 12,863
General Administration
1,881,382
45,836
45,836
( 705)
1,880,677
Legal and City Clerk
23,800
-
-
-
23,800
Personnel/Risk Management
26,475
67,898
-
-
94,373
Data Processing
706,593
22,554
2,402
-
726,745
Martin Luther King Center
372,042
-
-
-
372,042
Library
940,062
31,968
-
-
972,030
Municipal Court
573,681
13,716
8,606
-
578,791
Farmer's Market
946
-
-
-
946
Building Maintenance
15,153
-
-
-
15,153
Purchasing
4,420
-
553
553
4,420
Midtown 2000
418,578
-
-
-
418,578
Auditorium/Activity Center
6,521,616
-
-
-
6,521,616
Community Development
84,964
-
-
-
84,964
Total administrative
services division
11,582,575
181,972
57,397
( 152)
11,706,998
Police division:
Police
4,425,365
125,051
6,675
( 3,461)
4,540,280
Fire division:
Fire
2,096,071
39,760
3,507
( 1,978)
2,130,346
Parks and recreation division:
Parks
12,806,853
85,030
86,021
( 553)
12,805,309
Golf
148,302
-
-
-
148,302
Cemetery
24,805
3,235
-
-
28,040
Total parks and recreation
division
12,979,960
88,265
86,021
( 553)
12,981,651
Accounting/finance division:
Accounting/finance
33,919
-
1,843
-
32,076
Tax
17,347
-
2,295
-
15,052
Total accounting/finance
division
51,266
-
4,138
-
47,128
Planning division:
Planning
81,071
9,072
553
( 375)
89,215
Public works division:
Engineering
297,674
555
1,295
2,352
299,286
Inspection
59,088
3,175
-
-
62,263
Street Maintenance
191,186
4,898
-
-
196,084
Total public works division
547,948
8,628
1,295
2,352
557,633
Health division:
Health
1,285,647
5,112
702
4,167
1,294,224
Traffic and transportation division:
Traffic Engineering
123,264
1,475
590
-
124,149
Parking Meters
5,109
-
-
-
5,109
Total traffic and
transportation division
128,373
1,475
590
-
129,258
Total general fixed assets
$33,178,276
S 459,335
$160,878
$ -
$33,476,733
86
EXHIBIT J-8
CITY OF WICHITA FALLS, TEXAS
AIRPORT FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1989
Plant and Equipment:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total plant and equipment
Accumulated Depreciation:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total accumulated
depreciation
Net plant and equipment
Balance Balance
10/1/88 Additions Deletions 9/30/89
$1,468,175 $ - $ -
$1,468,175
1,451,662 - -
1,451,662
13,608 - -
13,608
11,937 540 -
12,477
2,945,382 540 -
2,945,922
520,462
58,892 -
579,354
453,031
30,716 -
483,747
7,302
1,313 -
8,615
7,534
813 -
8,347
988,329
91,734 -
1,080,063
$1,957,053 ($
91,194) $ -
$1,865,859
87
EXHIBIT J-9
CITY OF WICHITA FALLS, TEXAS
TRANSIT FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1989
Plant and Equipment:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total plant and equipment
Accumulated Depreciation:
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total accumulated
depreciation
Net plant and equipment
Balance Balance
10/1/88 Additions Deletions 9/30/89
$ 61,925 $ - $ - $ 61,925
626,868 - - 626,868
67,822 - - 67,822
6,128 - - 6,128
762,743 - - 762,743
36,692 7,988 - 44,680
27,245 6,150 - 33,395
1,968 447 - 2,415
65,905 14,585 - 80,490
$ 696,838 ($ 14,585) $ _ - ® $ 682,253
88
EXHIBIT J-10
CITY OF WICHITA FALLS, TEXAS
SANITATION FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1989
Plant and Equipment:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total plant and equipment
Accumulated Depreciation:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total accumulated
depreciation
Net plant and equipment
Balance Balance
10/1/88 Additions Deletions 9/30/89
$ 653,692 $ - $ - $ 653,692
2,298,370 - - 2,298,370
95,660 6,527 9,981 92,206
4,750 - - 4,750
31052,472 6,527 9,981 3,049,018
13,356 1,805 - 15,161
281,331 48,853 - 330,184
49,977 7,944 ( 9,981) 47,940
3,529 183 - 3,712
348,193 58,785 ( 9,981) 396,997
$2,704,279 ($ 52,258) $ - $2,652,021
89
O
EXHIBIT J-11
CIw OF WICHIT.L FALLS, TEODIH
WATER AND SEWER FUND
MART, EQUIPMENT AND DEFRECIITIOM
FOR THE YEAR ERDED EEPTNEQ 30, 19"
Plant and Equipment
Accumulated Depreciation
Net Plant
Balance
Transfers
Balance
Balance
Balance
and
10/1/88
Additions
Deletions
In (Out)
9/30/89
10/1/88
Additions
Deletions
9/30/89
Equipment
Water Departments
Land and betterments
$22,304,398
$ 25,276
$ -
$ -
$22,329,674
$ 4,338,458
$ 229,639
$ -
$ 4,568,097
$27,761,577
Buildings, systems and improvements
36,719,171
1,499,363
-
8,991,646
47,210,180
13,965,447
800,131
-
14,765,578
32,444,602
Machinery and equipment
2,290,895
43,931
-
-
2,334,826
1,340,356
42,579
-
1,382,935
951,891
Furniture and fixtures
22,356
-
-
-
22,356
14,318
1,499
-
15,817
6,539
Motor vehicles
3,670
-
-
-
3,670
3,670
-
-
3,670
-
Construction in progress
8,117,381
965,481
-
( 8,991,646)
91,216
-
-
-
-
91,216
Total Water Department
$69„457,671
$2,534,051
$ -
S _ -
$71,.991,922
$19, 6626249
51,073,848
$ -
$20,736,097
$51,255,825
Sewer Department:
Land and betterments
$ 85,214
$ -
$ -
$ -
$ 85,214
$ -
$ -
$ -
$ -
$ 85,214
Buildings, systems and improvements
20,398,168
613,548
-
1,193,148
22,204,864
9,594,932
595,037
-
10,189,969
12,014,895
Machinery and equipment
211,754
2,570
363
-
213,961
179,067
6,010
218
184,859
29,102
Furniture and fixtures
1,285
1,163
-
-
2,448
836
129
-
965
1,483
Construction in progress
1,329,585
1,871,495
-
( 2,193,148)
2,007,932
-
-
-
-
2,007,932
Total Sever Department
$22,026,006
$2,488,776
S 363
$ -
$24,514,419
$ 9,774,835
$ 601, 176
$ 218
S10, 375, 793
$14, 138,626
Combined Water and Gower Departments:
Land and betterments
$22,389,612
$ 25,276
$ -
$ -
$22,414,888
$ 4,338,458
$ 229,639
$ -
$ 4,568,097
$17,846,791
Buildings, systems and improvements
57,117,339
2,112,911
-
10,184,794
69,415,044
23,560,379
1,395,168
-
24,955,547
44,459,497
Machinery and equipment
2,502,649
46,501
363
-
2,548,787
1,519,423
48,589
218
1,567,794
980,993
Furniture and fixtures
23,641
1,163
-
-
24,804
15,154
1,628
-
16,782
8,022
Motor vehicles
3,670
-
-
-
3,670
3,670
-
-
3,670
-
Construction in progress
9,446,966
2,836,976
-
( 10,184,794)
2,099,148
-
-
-
-
2,099,148
Total Combined Water and
Sewer Departments
$91,483,877
$5,022,827
363
$ -
$96,506,341
129,437,084
$1, 675, 024
$ 218
$31,111,890
$65,394„451
EXHIBIT J-12
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1989
Plant and Equipment:
Land and betterments
Buildings and improvements
Furniture and fixtures
Motor vehicles and equipment
Total plant and equipment
Accumulated Depreciation:
Buildings and improvements
Furniture and fixtures
Motor vehicles and equipment
Total accumulated
depreciation
Net plant and equipment
Balance Balance
10/1/88 Additions Deletions 9/30/89
$ 433,658
$ - $ - $ 433,658
4,008,948
- - 4,008,948
5,974
- - 5,974
14,485,375
2,339,101 1,445,311 15,379,165
18,933,955
2,339,101 1,445,311 19,82",745
399,162
80,085
- 479,247
3,516
423
- 3,939
7,283,604
1,630,392
1,247,580 7,666,416
7,686,282
1,710,900
1,247,580 8,149,602
$11,247,673
$ 628,201
$ 197,731 $11,678,143
91
Wichi �s
TEXAS\\\\\�
STATISTICAL SECTION (UNAUDITED)
Wichita' s
TEXAS\\\\\C
to
N
EXHIBIT K-1
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION (GENERAL FUND ONLY) -
LAST TEN FISCAL YEARS (UNAUDITED)
Finance
Fiscal
Administrative
Parke and
and
Public
Traffic and
Year
Services
Police
Fire
Recreation
Accountinq
Planninq
works
Health
Transportation
Total
1979-1980
$3,391,765
$3,567,359
$2,559,343
$1,555,801
$254,141
$ 458,406
$5,194,544
$ 937,651
$1,124,071
$19,043,081
1980-1981
4,640,642
4,233,007
2,950,147
2,286,817
257,656
1,092,712
9,236,190
1,119,781
1,516,665
27,333,617
1981-1982
4,546,379
5,015,271
3,341,335
2,911,708
577,133
1,125,120
8,524,692
1,482,774
1,562,567
29,086,979
1982-1983
5,001,439
5,685,793
3,883,766
2,584,235
563,936
770,007
7,815,997
1,320,500
1,502,279
29,127,952
1983-1984
7,280,506
6,169,438
4,321,815
2,661,586
480,639
965,744
6,711,669
1,432,771
2,037,931
32,062,099
1984-1985
5,569,049
6,357,917
4,923,585
2,566,444
503,270
339,011
4,751,428
1,655,368
1,381,583
28,047,655
1985-1986
4,895,221
7,422,813
4,601,651
2,396,365
525,034
405,519
5,220,861
1,732,984
1,276,928
28,477,376
1986-1987
4,972,244
7,242,687
4,844,086
2,928,346
469,576
269,662
5,233,671
1,939,250
1,296,474
29,195,996
1987-1988
4,548,054
7,578,322
5,096,563
2,936,646
432,777
322,779
3,837,350
1,752,420
1,217,950
27,722,861
1988-1989
4,514,948
7,677,500
5,240,285
2,478,736
418,733
336,887
4,232,744
1,830,962
1,249,506
27,980,301
EXHIBIT K-2
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL REVENUES BY SOURCE (GENERAL FUND ONLY) -
LAST TEN FISCAL YEARS (UNAUDITED)
Charges
Licenses
Fiscal
for
and
Intergovernmental
Miscellaneous
Year
Taxes
services
Permits
Fines
Revenue
Revenue
Total
1979-1980
$13,292,089
$2,561,174
$303,713
$535,045
$1,037,185
$ 912,501
$18,641,707
1980-1981
15,617,860
3,414,456
235,263
539,842
2,568,732
1,215,997
23,592,150
1981-1982
16,477,646
4,272,199
234,446
689,301
1,543,277
1,621,773
24,838,642
1982-1983
18,023,712
4,354,410
284,438
808,502
683,388
1,292,813
25,447,263
1983-1984
20,176,122
5,449,200
342,431
753,274
562,519
1,418,298
28,701,844
1984-1985
21,328,803
1,904,610
463,613
815,148
443,014
1,637,783
26,592,971
1985-1986
21,943,688
1,117,348
418,823
836,851
479,325
1,348,003
26,144,038
1986-1987
21,498,718
1,164,667
353,679
840,467
641,949
1,080,753
25,580,233
1987-1988
22,195,718
1,295,629
598,915
885,805
704,187
1,346,153
27,026,407
1988-1989
23,035,386
1,261,555
440,857
834,328
791,383
1,597,558
27,961,067
EXHIBIT K-3
CITY OF WICHITA FALLS, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS -
LAST TEN FISCAL YEARS (UNAUDITED)
Total
Collections
Percent
Delinquent
as Percent
Fiscal
Total
Current Tax
of Levy
Tax
Total Tax
of Current
Year
Tax Levv
Collections
Collected
Collections
Collections
Levy
1979-1980
$ 7,582,393
$ 7,383,608
97.38%
$129,220
$ 7,512,828
99.08%
1980-1981
9,315,184
9,031,661
96.96%
152,342
9,184,003
98.59%
1981-1982
10,896,934
10,508,375
96.43%
181,577
10,689,952
98.10%
1982-1983
12,490,900
11,900,747
95.28%
249,522
12,150,269
97.28%
1983-1984
14,050,573
13,524,855
96.26%
301,973
13,826,828
98.41%
1984-1985
14,199,969
13,722,790
96.64%
497,660
14,220,450
100.14%
1985-1986
13,940,609
13,479,038
96.69%
399,623
13,878,661
99.56%
1986-1987
14,401,856
13,743,656
95.43%
378,280
14,121,936
98.06%
1987-1988
14,508,804
13,998,858
96.49%
487,072
14,485,930
99.84%
1988-1989
14,664,571
14,123,525
96.31%
387,088
14,510,613
98.95%
94
ko
cn
EXHIBIT K-4
CITY OF WICHITA FALLS, TEXAS
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY -
LAST TEN FISCAL YEARS (UNAUDITED)
Ratio of Total
Assessed
Real
Property
Personal
Property
Total
to Total
Fiscal
Assessed
Estimated
Assessed
Estimated
Assessed
Estimated
Estimated
Year
Value
Actual Value
Value
Actual Value
Value
Actual Value
Actual Value
1979-1980
$ 552,869,965
$ 789,814,236
$205,360,309
$293,371,870
$ 758,230,274
$1,083,186,106
70.00%
1980-1981
906,905,547
906,905,547
335,093,095
335,093,095
1,241,998,642
1,241,998,642
100.00%
1981-1982
1,068,352,963
1,068,352,963
384,544,358
384,544,358
1,452,897,321
1,452,897,321
100.00%
1982-1983
1,324,181,729
1,324,181,729
478,256,955
478,256,955
1,802,438,684
1,802,438,684
100.00%
1983-1984
1,432,631,714
1,432,631,714
449,813,802
449,813,802
1,882,445,516
1,882,445,516
100.00%
1984-1985
1,587,368,510
1,587,368,510
468,310,782
468,310,762
2,055,679,292
2,055,679,292
100.00%
1985-1986
1,737,427,089
1,737,427,089
489,263,121
489,263,121
2,226,690,210
2,226,690,210
100.00%
1986-1987
1,809,871,886
1,809,871,886
505,911,411
505,911,411
2,315,783,297
2,315,783,297
100.00%
1987-1988
1,789,937,697
1,789,937,697
484,882,457
484,882,457
2,274,820,154
2,274,820,154
100.00%
1988-1989
1,789,389,697
1,789,389,697
509,853,169
509,853,169
2,299,242,866
2,299,242,866
100.00%
EXHIBIT K-5
CITY OF WICHITA FALLS, TEXAS
PROPERTY TAX RATES AND TAX LEVIES - ALL OVERLAPPING GOVERNMENTS -
LAST TEN FISCAL YEARS (UNAUDITED)
Fiscal
WFISD
CVISD
Year
Citv
School (1)
School (2)
County
Total
Tax Rates Per
$100 Valuation
1979-1980
$1.00
$1.06
$ .89
$ .87
$3.82
1980-1981
.75
.74
1.07
.87
3.43
1981-1982
.75
.73
1.07
.31
2.86
1982-1983
.69
.69
.69
.22
2.29
1983-1984
.75
.74
.67
.25
2.41
1984-1985
.69
.74
.58
.25
2.26
1985-1986
.63
.87
.64
.24
2.38
1986-1987
.62
.82
.75
.24
2.43
1987-1988
.64
.82
.72
.25
2.43
1988-1989
.64
.85
.81
.27
2.57
Tax Levies
1979-1980
$ 7,582,393
$ 7,862,586
$279,632
$4,622,135
$20,346,746
1980-1981
9,315,184
9,234,676
402,354
4,551,667
23,503,881
1981-1982
10,896,934
10,427,882
402,523
4,551,700
26,279,039
1982-1983
12,490,900
12,233,330
488,457
6,858,581
32,071,268
1983-1984
14,050,573
13,541,058
487,548
7,254,768
35,333,947
1984-1985
14,199,969
14,642,156
479,099
7,680,915
37,002,139
1985-1986
13,940,609
18,631,889
538,827
7,763,760
40,875,085
1986-1987
14,401,856
18,270,216
669,201
7,916,250
41,257,523
1987-1988
14,508,804
18,063,909
660,750
8,188,119
41,421,582
1988-1989
14,664,571
19,273,667
708,713
8,913,815
43,560,766
Notes:
(1) WFISD - Wichita Falls Independent School District - 98.49% in Wichita Falls city limits
(2) CVISD - City View Independent School District - 75.25% in Wichita Falls city limits
FL
EXHIBIT K-6
CITY OF WICHITA FALLS, TEXAS
TEN LARGEST TAXPAYERS (UNAUDITED)
SEPTEMBER 30, 1989
Taxpayer
Type of Business
Southwestern Bell
Telephone utility
Texas Utilities
Electric Utility
JMB Group Trust III
Shopping Center
Robert Seabury
shopping Center/
Entertainment
Complex
Sprague Electric
Manufacturing
Panhandle Manufacturing
Manufacturing
Siemens
Manufacturing
Wichita Falls Hotel
Hotel
Partnership
Texaco, Inc.
Oil and Gas
Lone Star Gas
Gas Utility
Totals
January 1, 1988
Assessed
valuation
$ 46,638,818
33,037,549
31,656,032
15,549,954
13,971,120
10,511,775
8,837,627
7,791,108
7,621,544
7,304,160
$182,919,687
Percentage
of Total
Assessed
Valuation
2.03%
1.44%
1.38%
.68%
.33%
.32%
7.97%
97
EXHIBIT K-7
CITY OF WICHITA FALLS, TEXAS
SPECIAL ASSESSMENT COLLECTIONS (CAPITAL IMPROVEMENT ASSESSMENTS FUND) -
LAST TEN FISCAL YEARS (UNAUDITED)
Current
Current
Ratio of
Fiscal
Assessments
Assessments
collections
Year
Due
collected
to Amount Due
1979-1980
$578,872
$109,360
18.90%
1980-1981
718,281
87,983
12.25%
1981-1982
625,599
323,627
51.73%
1982-1983
657,912
107,106
16.28%
1983-1984
656,093
216,304
32.97%
1984-1985
539,756
109,799
20.34%
1985-1986
499,695
36,960
7.40%
1986-1987
475,172
20,465
4.31%
1987-1988
454,730
20,530
4.51%
1988-1989
446,531
8,199
1.84%
98
EXHIBIT K-8
CITY OF WICHITA FALLS, TEXAS
COMPUTATION OF LEGAL DEBT MARGIN (UNAUDITED)
SEPTEMBER 30, 1989
Total assessed property value per 1988 tax roll $2,299,242,866
Maximum tax levy* $2.25/$100
Current tax levy for 1988 tax year .6378/$100
Maximum tax levy in excess of 1988 tax levy 1.6122/$100
Total legal debt margin $37,068,393
There is no debt limit established by law. The limit is, therefore, governed
by the City's ability to levy and collect taxes to service the outstanding
indebtedness. The City's maximum legal tax rate established under its
Charter is $2.25 per $100 assessed valuation. The 1988 tax rate is $ .6378
per $100 assessed valuation.
* Maximum tax levy established by City Charter
99
r
O
O
EXHTHIT K-9
CITY OF WICBITA FALLS, TEXAS
RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE
AND NET GENERAL BONDED DEBT PER CAPITA - LAST TEN FISCAL YEARS (UNAUDITED)
Ratio of
Net General
Gross
Less Debt
Bonded Debt
Net General
Fiscal
Assessed
General
Service
Net General
To Assessed
Bonded Debt
Year
Population
Value
Bonded Debt
Funds
Bonded Debt
Value
Per Capita
1979-1980
93,600
$ 758,230,274
$13,558,000
$277,095
$13,280,905
1.75%
$142
1980-1981
94,201
1,241,998,642
13,564,000
467,080
13,096,920
1.05%
139
1981-1982
96,500
1,452,897,321
19,153,000
633,207
18,519,793
1.27%
192
1982-1983
97,125
1,802,438,684
17,395,000
705,727
16,689,273
.93%
172
1983-1984
104,500
1,882,445,516
15,375,000
929,646
14,445,354
.77%
138
1984-1985
100,200
2,055,679,292
21,870,000
235,914
21,634,086
1.05%
216
1985-1986
101,300
2,226,690,210
22,540,000
245,043
22,294,957
1.00%
220
1986-1987
99,000
2,315,783,297
22,235,000
269,301
21,965,699
.95%
222
1987-1988
98,500
2,274,820,154
21,630,000
400,423
21,229,577
.93%
216
1988-1989
95,000
2,299,242,866
20,995,000
584,800
20,410,200
.89%
215
EXHIBIT K-10
CITY OF WICHITA FALLS, TEXAS
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO
TOTAL GENERAL EXPENDITURES - LAST TEN FISCAL YEARS (UNAUDITED)
Ratio of
Total
Debt Service
Fiscal
Total Debt
General
to General
Year
Principal
Interest
Service
Expenditures
Expenditures
1979-1980
$1,306,000
$ 423,175
$1,729,175
$19,043,081
9.08%
1980-1981
1,309,000
633,791
1,942,791
27,333,617
7.11%
1981-1982
2,801,000
596,285
3,397,285
29,086,979
11.68%
1982-1983
1,758,000
1,480,829
3,238,829
29,127,952
11.12%
1983-1984
2,020,000
1,365,442
3,385,442
32,062,099
10.56%
1984-1985
1,855,000
1,242,282
3,097,282
28,047,655
11.04%
1985-1986
-
902,453
902,453
28,477,376
3.17%
1986-1987
305,000
1,980,711
2,285,711
29,195,996
7.83%
1987-1988
605,000
1,682,502
2,287,502
29,730,585
7.69%
1988-1989
635,000
1,650,740
2,285,740
27,980,301
8.17%
101
EXHIBIT K-11
CITY OF WICHITA FALLS, TEXAS
COMPUTATION OF DIRECT AND OVERLAPPING DEBT (UNAUDITED)
SEPTEMBER 30, 1989
Percentage
Amount
Applicable
Applicable
Taxing
Gross Debt
to City of
to city of
.jurisdiction
Outstandinq (1)
Wichita Falls (2)
Wichita Falls
city of Wichita Falls
$43,830,000
100.00%
$43,830,000
Wichita Falls Independent
school District
20,375,000
98.49%
20,067,338
Wichita County
2,657,890
77.23%
2,052,688
City view Independent
school District
688,000
75.25%
517,720
Burkburnett Independent
school District
8,470,000
1.16%
98,252
Total direct and
overlapping debt
$76,020,890
$66,565,998
Sources:
(1) Listed taxing jurisdictions
(2) Herbert R. Smith, Inc.
102
EXHIBIT K-12
CITY OF WICHITA FALLS, TEXAS
REVENUE BOND COVERAGE - WATER AND SEWER REVENUE BONDS -
LAST TEN FISCAL YEARS (UNAUDITED)
Average
Annual
Average
Maximum
Net Income
Principal
Annual
Principal
Maximum
Fiscal
Available for
and
Times
and
Times
Year
Debt Service
Interest
Covered
Interest
Covered
1979-1980
$2,904,365
$ 536,677
5.41
$1,129,840
2.57
1980-1981
2,843,629
507,350
5.60
1,129,840
2.52
1981-1982
2,773,414
682,840
4.06
1,440,487
1.93
1982-1983
3,242,485
640,749
5.06
1,394,164
2.32
1983-1984
4,844,678
596,430
8.12
1,347,556
3.60
1984-1985
5,239,019
2,374,494
2.21
2,377,437
2.20
1985-1986
4,588,812
2,453,643
1.87
2,457,972
1.87
1986-1987
4,230,749
2,453,511
1.72
2,457,972
1.72
1987-1988
5,805,625
2,453,276
2.37
2,456,678
2.36
1988-1989
5,867,611
2,453,383
2.39
2,456,678
2.39
103
EXHIBIT K-13
CITY OF WICHITA FALLS, TEXAS
DEMOGRAPHIC STATISTICS -
LAST TEN FISCAL YEARS (UNAUDITED)
Median
Per
Fiscal
Estimated
Capita
Education
school
Unemployment
Year
Population (1)
Income (2)
Level (3)
Enrollment (3)
Rate (4)
1979-1980
93,600
$ 7,500
12.6
14,386
4.0%
1980-1981
94,201
8,703
13.1
14,378
4.1%
1981-1982
96,500
9,857
13.1
14,256
6.4%
1982-1983
97,125
11,302
13.2
14,184
7.1%
1983-1984
104,500
11,835
13.3
14,428
4.4%
1984-1985
100,200
11,970
13.3
14,118
5.9%
1985-1986
101,300
12,985
13.2
14,159
8.4%
1986-1987
99,000
13,874
13.2
14,249
7.8%
1987-1988
98,500
14,732
13.1
13,856
6.3%
1988-1989
95,000
15,836
13.1
14,861
5.7%
Sources:
(1) city of Wichita Falls Planning Department
(2) Midwestern State University Small Business council
(3) Wichita Falls I.S.D. - Educational level is grade equivalent of
graduating senior.
(4) Texas Employment Commission
104
EXHIBIT K-14
CITY OF WICHITA FALLS, TEXAS
PROPERTY VALUE, BUILDING PERMITS AND BANK DEPOSITS -
LAST TEN FISCAL YEARS (UNAUDITED)
Fiscal
Property
Building
Bank
Year
Value (1)
Permits (2)
Deposits (3)
1979-1980
$1,083,186,106
$45,236,067
$ 811,428,863
1980-1981
1,241,998,642
82,811,494
888,732,895
1981-1982
1,452,897,321
56,424,318
961,142,020
1982-1983
1,802,438,684
73,235,522
972,585,375
1983-1984
1,882,445,516
45,959,328
1,011,202,125
1984-1985
2,055,679,292
68,942,474
1,020,034,687
1985-1986
2,226,690,210
40,951,045
1,086,818,201
1986-1987
2,315,783,297
31,161,722
1,107,880,373
1987-1988
2,274,820,154
39,510,717
1,075,698,257
1988-1989
2,299,242,866
34,316,901
1,070,274,273
Sources:
(1) city of Wichita Falls Tax Department
(2) City of Wichita Falls Planning Department
(3) Wichita Falls Times/Record News
105
EXHIBIT K-15
CITY OF WICHITA FALLS, TEXAS
MISCELLANEOUS STATISTICAL DATA (UNAUDITED)
SEPTEMBER 30, 1989
Date of incorporation
Form of government
Area
Miles of streets
Number of street lights
Fire protection:
Number of stations
Number of firemen and officers
Police protection:
Number of stations
Number of police officers
Municipal water department:
Number of consumers - active
Average daily consumption
Miles of water mains
Sewers:
Number of customers - active
Miles of sanitary sewers
Miles of storm sewers
Building permits issued:
Number issued
Amount issued
Recreation and culture:
Number of parks
Number of libraries
Number of volumes
Employees - full-time
1889
Council - Manager
53 square miles
580.2
6,482
9
149
1
160
31,373
22,655,000 gallons treated water
800
28,740
650
200
6,823
34,316,901
41 with 1,104 acres
1
127,000
995
106
EXHIBIT K-16
(Page 1 of 4)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED)
SEPTEMBER 30, 1989
Insurance
Code
A Policy:
Company:
Policy No.:
Policy No.:
Policy Period:
Perils:
Coverages:
Deductible:
Coinsurance:
Premium:
B Policy:
Company:
Policy No.:
Policy Period:
Perils:
Coverage:
Deductible:
coinsurance:
Premium:
C Policy:
Company:
Policy No.:
Policy Period:
Perils:
Coverage:
Deductible:
Coinsurance:
Premium:
Building and Contents
Fireman's Fund
XFX 66157 82
Extra Expense XFX 66157 81
October 1, 1989 to October 1, 1990
Fire, extended coverage, vandalism
and malicious mischief, including
difference in condition
$34,625,144 Building and Contents
$ 50,000 Extra Expense
$ 100,000
Agreed value, Replacement Cost
....................................$17,500
Boiler and Machinery
Continental Insurance
BM D 2 78 64 46
October 1, 1989 to October 1, 1990
Comprehensive Blanket
$5,000,000 Per occurrence
$2,500
N/A
....................................$10,545
Electronic Data Processing Equipment
Kemper Lloyds Insurance Company
3HF 503 640-01
October 1, 1989 to October 1, 1990
All Risks
$633,200
$ 500
N/A
....................................$ 6,103
D Policy: Excess Worker's Compensation and
Employer's Liability
Company: Aetna Insurance Company
Policy No.: 18 XC 31 SCA
Policy Period: October 1, 1989 to October 1, 1990
Perils: Worker's Compensation - Employer's
Liability
Coverage: Statutory Limits Worker's Compensation
$1,000,000 Employer's Liability
Deductible: $500,000
Coinsurance: N/A
Premium:....................................$35,088
107
EXHIBIT K-16
(Page 2 of 4)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1989
Insurance
Code
E Policy:
Company:
Policy No.:
Policy No.:
Perils:
Coverage:
Deductible:
coinsurance:
Premium:
Airport Liability
U.S. Fire Insurance Company
GLA 45-24729-1
October 1, 1989 to October 1, 1990
Owner's, Landlord, and Tenants Liability
$1,000,000 CSL
None
N/A
.....................................$ 1,900
F Policy:
Public Official Bond
Company:
Fidelity & Deposit Company
Bond No.:
09688496
Bond Period:
June 27, 1989 to June 27, 1990
Insured:
City Manager - Jim Berzina
Coverage:
$25,000
Premium:
.....................................$
88
G Policy:
Public official Bond
Company:
Fidelity & Deposit Company
Bond No.:
30237391
Bond Period:
August 1, 1989 to August 1, 1990
Insured:
Purchasing Agent - Peggy Gahagan
Coverage:
$2,500
Premium:
.....................................$
50
H Policy:
Public Employee Blanket Bond
Company:
Fidelity & Deposit Company
Bond No.:
CCP 9367053
Bond Period:
January 15, 1989 to January 15, 1990
Insured:
Honesty Blanket Position
Coverages:
$10,000 Inside Premises
$ 3,000 Outside Premises
Premium:
.....................................$
288
I Policy:
Public official Bond
Company:
Fidelity & Deposit Company
Bond No.:
9619935
Bond Period:
January 15, 1989 to January 15, 1990
Insured:
city clerk - Wilma Thomas
Coverage:
$25,000
Premium:
.....................................$
88
108
EXHIBIT K-16
(Page 3 of 4)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1989
Insurance
Code
J Policy:
Public official Bond
Company:
Aetna Insurance Company
Bond No.:
S100138239BCA
Bond Period:
April 22, 1989 to April 22, 1990
Insured:
Tax Assessor/Collector - Art DeWitt
Coverage:
$50,000
Premium:
....................................$ 250
K Policy:
Public Official Bond
Company:
Aetna Insurance Company
Bond No.:
S100084654BCA
Bond Period:
August 6, 1989 to August 6, 1990
Insured:
Director of Public works - George Bonnett
Coverage:
$2,500
Premium:
....................................$ 50
L Policy:
Public official Bond
company:
Aetna Insurance Company
Bond No.:
S100179467BCA
Bond Period:
July 16, 1989 to July 16, 1990
Insured:
Municipal Court Administrator -
Don vanadore
Coverage:
$2,500
Premium:
....................................$ 50
M Policy:
Public official Bond
Company:
Aetna Insurance Company
Bond No.:
s18072205BCA
Bond Period:
March 5, 1989 to March 5, 1990
Insured:
Director of Finance - Fred Werner
Coverage:
$25,000
Premium:
....................................$ 88
N Policy:
Health Insurance
Company:
Coordinated Benefits system
Policy No.:
City of Wichita Falls Employee
Benefits Trust
Policy Period:
October 1, 1989 through September 30, 1990
Perils:
Illness and Accidental Injury
(Non -work Related)
Coverage:
$1,000,000 Lifetime Maximum
Deductible:
$250 Annually Per Person (Maximum 3
Family Members)
coinsurance:
Coinsurance coverage begins when a limit of
20% reaches $2,500 yearly, then insurance
company pays 100% of eligible expenses.
Premium:
.................Annual Estimate $1,700,000
109
EXHIBIT K-16
(Page 4 of 4)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1989
Insurance
Code
o Policy:
Company:
Policy No.:
Policy Period:
Perils:
Coverages:
Deductible:
Coinsurance:
Premium:
P Policy:
Company:
Policy No.:
Policy Period:
Perils:
Coverage:
Deductible
Premium:
Q Policy:
Company:
Policy No.:
Policy Period
Perils:
Coverage:
Deductible:
Premium:
Dental Insurance
Coordinated Benefits Systems
City of Wichita Falls Employee
Benefits Trust
October 1, 1989 through September 30, 1990
Basic Dental Coverage with orthodontics
for Children under 19
$1,000 Annual Maximum - Basic Coverage
$1,000 Lifetime Maximum - orthodontics
Basic coverage - $100 Annually Per Person
(Maximum 3 Family Members); No Deductible
for orthodontics
80-20 Basic, 50-50 orthodontics,
50-50 Periodontics
....................Annual Estimate $150,000
Life Insurance
Aetna Life and Casualty
GT-447782 (Group $)
October 1, 1989 through September 30, 1990
Death and Dismemberment Benefits
varies from $3,000; $5,000; $7,500; $10,000;
$12,000; $14,000; $15,000; Double Indemnity
for Accidental Death. Dismemberment
Benefits.
N/A
.....................Annual Estimate $80,000
Life Insurance (Directors only)
Pilot Life Insurance company
0548 (Group #)
January 1, 1988 to December 31, 1989
Accidental Death and Dismemberment
$25,000
N/A
........................Annual Estimate $400
110
GRAPHICS
Wichita 'cis
1"EXAS\ �
EXHIBIT L-1
35
3c
25
20
=S
� � D
N N 15
v
1C
c
c
CITY OF WICHITA FALLS, TEXAS
CASH AND SHORT-TEPIVI INVESTMENTS
1985 19B6 19B7 19BB 1982
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
50
40
n
30
�g
� =r
N � D
in Cn
v 20
10
161
CITY OF WICHITA FALLS, TEXAS
TOTAL BONDS PAYABLE
1985 1986 1987 1988 1989
YEARS ENDED SEPTEMBEP 30,
EXHIBIT L-2
(UNAUDITED)
EXHIBIT L-3
26
24 —
22
20
18
16
14
12
10
8
6
4
2
0
CITY OF WICHITA FALLS, TEXAS
GENERAL OBLIGATION BONDS PAYABLE
1985 19B6 19B7 19BB 1989
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
26
24
22
20
18
16
n
�v
14
� rr
0 D
12
u)N
N
v
10
8
6
4
2
0
CITY OF WICHITA FALLS, TEXAS
PEVENUE BONDS PAYABLE
1985 1986 1987 1988 1989
YEARS ENDED SEPTEMBEP 30,
(UNAUDITED)
EXHIBIT L-4
EXHIBIT L-5
n
�4
r
-r
0 D
J D
(n En
lJ
140
130
120
110
100
90
80
70
60
SO
40
30
20
10
0
CITY OF WICHITA FALLS, TEXAS
TOTAL FUND EQUITY
1985
® RESERVED/DESIGNATED
I I I I
1986 1987 1988 1989
YEARS ENDED SEPTEMBER 30,
® UNRESERVED/UNDESIGNATED
(UNAUDITED)
rn
EXHIBIT L-6
CITY OF WICHITA FALLS, TEXAS
COMPARISON OF TAX LEVY AND TAX COLLECTIONS
15
14 — /
12 — �—� �\ X\ /\
10 — X� /\ �\ /\ /\ /\ /\ /\
9 —
8 8 - Xx N xx /N XN XX N XN XN
-%K XN \ X\ X\ XN XN X\ X\ XX
r /
tan 7 / ` /\ /\ /\ /\ /\ /\ /\ /\ /\
v 6 —/,` X\ X\ X,\ X\ X\ X\ /\ X\ �\
5-ZN i\ i\ XN XN XN XN XN iN iN
4 / ` /\ /\ X\ /\ /\ X\ /\ /\ XN
3 —/\ /\ X\ /\ /\ /\ X\ /\ XN XN
2 -XN //N i\ i\ /\ i\ i\ i\ i\ i\
_/` /\ /\ /\ /\ /\ /\ /\ /\ /\
0
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989
YEARS ENDED SEPTEMBER 30,
® TAX LEVY ® TAX COLLECTIONS
(UNAUDITED)
CITY OF WICHITA FALLS, TEXAS
ANALYSIS OF REVENUES BY SOURCE
FOR THE YEAR ENDED SEPTEMBER 30, 1989
I NTFRFST ANn M I SCFI I ANF(ll1S r i n. R961
INTERGOVERNMENTAL (6,
SERVICE CHARGES C 30 . 4%-3
EXHIBIT L-7
TAXES C41.6%)
HERMITS, AND FINES C2.0%)
RENTS AND CONCESSIONS C9.0%)
(UNAUDITED)
EXHIBIT L-8
CITY OF WICHITA FALLS, TEXAS
ANALYSIS OF EXPENDITURES BY FUNCTION
FOR THE YEAR ENDED SEPTEMBER 30, 1989
SANITATION (8.0%)
hEALT
PUBLIC WORKS C8.9,
DEBT SERVICE C4.0%)
FIRE C9.2%)
PLANNING (0.69
POL I CE
iEWER C17.996)
AIRPORT CO.6%)
PARKS & RECREATION C4.9%)
CAPITAL PROJECTS C1.6%)
INTERNAL SERVICE C9.1%)
ANSIT CO.9%)
VE C16.7%)
ACCOUNTING rk FINANCE C0.7%)
(UNAUDITED)
EXHIBIT L-9
30
28
26
24
22
20
r-�
18
�� 16
r
0 > 14
v 12
10
8
6
4
2
0
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL REVENUES - (GENERAL FUND ONLY)
LAST TEN FISCAL YEARS
19BO 1981 1982 1983 1984 1985 1986 1987 1988 1989
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL EXPENDITURES - (GENERAL FUND ONLY)
35 LAST TEN FISCAL YEARS
at
25
20
O
—r
0 DIDEn cn 15
v
10
5
n
EXHIBIT L-10
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989
YEARS ENDED SEPTEMBEP 30,
(UNAUDITED)
it
Wlchita►I S
TXS�
THE CITY OF WICHITA FALLS
PRINT SHOP SERVICES
1300 Seventh • P.O. Box 1431 • Wichita Falls, Texas 76307
817-761-7462