1984 Annual Financial ReportAnnual
Financial Report
Wichita Falls
A Professional Corporation Certified Public A=untanls
HUPP THOMPSON & COMPANY
(817)322-3103 / 1100 Wichita Tower / Wichta Falls, Texas 76301-6589
A Professional Corporation LV Certified Public Accountants
HUPP THOMPSON & COMPANY
Donald J. Hupp, CPA
Dennis V. Thompson, CPA
Terry L. Crain, CPA
Joseph D. Bauer, CPA
February 4, 1985
The Honorable Mayor and Members
of The City Council
City of Wichita Falls, Texas
We have examined the combined financial statements of the CITY OF WICHITA
FALLS, TENAS, for the year ended September 30, 1984 and have issued our report
thereon dated January 3, 1985. As a part of our examination, we made a study
and evaluation of the City's system of internal accounting control to the extent
we considered necessary to evaluate the system as required by -generally accepted
auditing standards. Under these standards, the purposes of such evaluation are
to establish a basis for reliance on the system of internal accounting control
in determining the nature, timing, and extent of other auditing procedures that
are necessary for expressing an opinion on the financial statements and to
assist the auditor in planning and performing his examination of the financial
statements.
The objective of internal accounting control is to provide reasonable,
but not absolute, assurance as to the safeguarding of assets against loss
from unauthorized use or disposition, and the reliability of financial records
for preparing financial statements and maintaining accountability for assets.
The concept of reasonable assurance recognizes that the cost of a system of
internal accounting control should not exceed the benefits derived and also
recognizes that the valuation of these factors necessarily requires estimates
and judgments by management.
There are inherent limitations that should be recognized in considering
the potential effectiveness of any system of internal accounting control. In
the performance of most control procedures, errors can result from misunder-
standing of instruction, mistakes of judgment, carelessness, or other personal
factors. Control procedures, the effectiveness of which depends upon segrega-
tion of duties, can be circumvented by collusion. Similarly, control proce-
dures can be circumvented intentionally by management either with respect -to
the execution and recording of transactions or with respect to the estimates
and the judgments required in the preparation of financial statements. Further,
projection of any evaluation of internal accounting control to future periods
is subject to the risk that the procedures may become inadequate because of
changes -in conditions and that the degree of compliance with the procedures
may deteriorate.
(817)322310311100 Wichita Tower I Wichita Falls, Texas 76301-6589
Management comments based on a study of internal accounting controls are
typically critical in nature in that they point out weaknesses noted in the
systems. Our letter last year pointed out four areas where we believed changes
should be made in order to promote greater control resulting in a more efficient
and effective system. Three of those comments have been implemented and the
fourth area has been under study by the City's staff for some time.
Our examination of the combined financial statements made in accordance
with generally accepted auditing standards, including the study and evalua-
tion of the City's system of internal accounting control for the year ended
September 30, 1984, that was made for the purposes set forth in the first
paragraph of this report, would not necessarily disclose all weaknesses in
the system because it was based on selective tests of accounting records and
related data. Our study and evaluation disclosed no conditions that we believe
to be material weaknesses.
There are many factors which enter into any system of internal accounting
control, the most significant of which is the control environment. -This includes
organizational structure, personnel, -delegation of authority, communication of
responsibility, budgets and financial reports, organizational checks and balances,
and data processing considerations. The City's system, immense -by its very nature,
capably deals with voluminous amounts of data. We find it is functioning very
effectively providing a channel of com and which acts as a monitor, assuring that
commands are being -carried out as required and warning the decision making function
of changes in circumstances that require attention.
Any system of internal accounting control is only as good as the people
administering the system. The City's personnel responsible at all levels within
the City have done their job to ensure that those policies are in force and are
being adhered to. Budget versus actual performance is regularly scrutinized,
variances from budget are identified and explanations are sought and questioned.
Employees are adequately supervised which serves effectively to determine adherence
to management's specific authorizations.
We wish to take this opportunity to express our appreciation for the
cooperation and assistance provided to us by Mr. Fred Werner and his staff.
Very truly yours,
�f�
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CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
September 30, 1984
i.. . -IM s
DEPAIUMENT OF FINANCE
FRED L. WERNER, CPA
DIRBCTOR OF FINANCE/
CHIEF ACCOUNTING OFFICER
1
1
Craig Wilson
Mayor Pro Tem
Charles Harper
Bill Palmer
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 1984
MAYOR AND CITY COUNCIL
Gary Cook, Mayor
CITY MANGER
James Berzina
DIRECTOR OF FINANCE AND
CHIEF ACCOUNTING OFFICER
Fred L. Werner, CPA
CERTIFIED PUBLIC ACCOUNTANTS
Hupp, Thompson & Company
Tom Swift
Charles Thomas
James A. Welburn
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1984
TABLE OF CONTENTS
Exhibit
Pace
INTRODUCTORY SECTION
Title Page
Table of Contents
i
Organizational Chart
iv
Letter of Transmittal:
Director of Finance/Chief Accounting Officer
v
FINANCIAL SECTION
Accountants' Report
1
General Purpose Financial Statements:
A,1
Combined Balance Sheets - All Fund Types and Account Groups
2
A-2
combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types
4
A-3
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual - General, Special
Revenue, and Debt Service Funds
5
A-4
Combined Statement of Revenues, Expenses and Changes in
Retained Earnings - All Proprietary Fund Types
(Enterprise Funds Only)
6
A-5
Combined Statement of Changes in Financial Position - All
Proprietary.Fund Types (Enterprise Funds Only)
7
Notes to -the Financial Statements
8
Combining and Individual Fund Financial Statements:
General Fund
B-1
Balance Sheet
28
B-2
Statement of Revenues, Expenditures and Changes in Fund
Balance - Budget and Actual
29
Special Revenue Funds
C-1
Combining Balance Sheet
32
C-2
Combining Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
33
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1984
TABLE OF CON1'ENTPS - Continued
Exhibit
Paae
Debt Service Fund
D-1
Balance Sheet
34
D-2
Statement of Revenues, Expenditures and Changes in Fund
Balance
35
Capital Projects Funds
E-1
Balance Sheet
36
E-2
Statement of Revenues, Expenditures and Changes in Fund
Balance
37
Special Assessment Fund
F-1
Balance Sheet
38
F-2
Statement of Revenues, Expenditures and Changes in Fund
Balance
39
Enterprise Funds
G-1
Combining Balance Sheets
40
G-2
Combining Statement of Revenues, Expenses and Changes in
Retained Earnings
42
G-3
Combining Statement of Changes in Financial Position
43
Trust and Age= Funds
A-1
Combining Balance Sheets
44
A-2
Statement of Revenues, Expenditures and Changes in Fund
Balance (Expendable Trust Fund Only)
45
H-3
Combining Statements of Changes in Assets and Liabilities
(Agency Funds Only)
46
SUPPORTING SCHEDULES
I-1
Bonded Debt and Interest Maturities - General Long -Term Debt
49
I-2
Revenue Bonds and Interest Maturities - Airport Fund
50
I-3
Revenue Bonds and Interest Maturities - Water and Sewer Fund
51
I-4
Debt Service Coverage - Revenue Bonds
52
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CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTIIMBER 30, 1984
TABLE OF CONTENTS - Continued
Exhibit Page
SUPPORTING SCHEDULES, Continued
I-5 General Fixed Assets Additions and Deletions - by Department 53
I-6 General Fixed Assets - by Major Classification 54
I-7 Airport Fund - Plant, Equipment and Depreciation 55
I-8 Transit Fund - Plant, Equipment and Depreciation 56
I-9 Water and Sewer Fund - Plant, Equipment and Depreciation 57
STATISTICAL SECTION (UNAUDITED)
J-1
Property Tax Levies and Collections - Last Ten Fiscal Years
58
J-2
Assessed and Estimated Actual Value of Taxable Property -
Last Ten Fiscal Years
59
J-3
Tax Rates and Tax Levies - 1974-1984
60
J-4
Ratio of Net General Bonded Debt to Assessed.Value and
Net Bonded Debt Per Capita - Last Ten Fiscal Years
61
J-5
Schedule of Revenue Bond Coverage - Aiport Revenue Bonds -
Last Ten Fiscal Years
62
J4
Schedule of Revenue Bond Coverage - Water and Sewer Revenue
Bonds - Last Ten Fiscal Years
63
J-7
General Governmental Expenditure by Functions - Last Ten
Fiscal Years
64
J-8
General Revenue by Sources - Last Ten Fiscal Years
65
J-9
Property Value, Construction, and Bank Deposits - Last
Ten Fiscal Years
66
J-10
Principal Taxpayers
67
J 11
mined Schedule of Bonds Payable
68
J-12
Schedule of Bonded Debt and Interest Maturities
72
J-13
Special Assessment Collections - Last Ten Fiscal Years
73
J-14
Computation of Overlapping Debt
74
J-15
Ratio of Annual Debt -Service for General Bonded Debt
to Total General Expenditures - Last Ten Fiscal Years
75
J-16
Demographic Statistics - Last Ten Fiscal Years
76
J-17
Computation of Legal Debt Margin
77
J-18
Schedule of Insurance Coverage
78
J-19
Schedule of Employee Benefit Insurance
84
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Wichita Falls
i�
January 15, 1985
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, 1984 is submitted herewith.
General Information
The City of Wichita Falls is located in
miles northwest of the Dallas - Forth Wo
southwest of Oklahoma City. The City of
Wichita County and was incorporated in 1
and financial center for a large farming,
North Central Texas, approximately 130
rth metropolitan area and 145 miles
Wichita Falls is the county seat of
889. The City is an industrial trade
ranching and oil producing territory.
Reporting Entity
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. Wichita County - City Hospital Board, Firemen's Relief and
Retirement Board, the Housing Authority of the City of Wichita Falls, Texas,
and the Employee Benefit Trust Fund. 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.
Accounting System and Reports
The City's accounting records for general governmental operations are maintained
on a modified accrual basis. Accounting records for the City's utilities and
other enterprises are maintained on the accrual basis. Budgetary control is
maintained on an annual allotment basis with the encumbrances of account balances
for purchase orders, prior to their release to vendors. Monthly financial reports
and budget expenditure reports are prepared by the Accounting/Finance Department to
aid in the formulation of operating policies and to control budget expenditures.
u
1300 7th Street P.O. Box 1431 817/322-5611 Wichita Falls, Texas 76307
General Governmental Operations
Revenues for general governmental operations totaled $28,701,844 in the 1983-84
fiscal year, an increase of 12.8% over the 1982-83 fiscal year. The increase
is due to increases in ad valorem, sales, and franchise taxes, sanitation services,
and interest earnings. General property taxes produced 37.4% of general revenues
compared to 36.4% in 1982-83 and 33.5% in 1981-82. The amount of revenue from
various sources and the increases or decreases compared to last year are shown
in the following tabulation:
Increase
(Decrease)
Percent
Over Prior
Revenue Source
Amount
of Total
Year
Taxes
$20rl76fl22
70.3%
$2,152,410
Charges for service
5,449,200
19.0
1,094,790
Licenses and permits
342,431
1.2
57,993
Fines
753,274
2.6
(55,228)
Intergovermmental revenue
562,519
2.0
(120F869)
Miscellaneous revenue
1,418,298
4.9
125,485
Total
$28,701,844
100.0%
$3,254.581
Assessed valuation was $1,882,445,516 based on 100% of market value. Current
tax collections were 96.26%-of the tax levy, up .98% from last year. The ratio
of total collections (current and delinquent) to the current tax levy was 98.41%,
an increase of 1.13% from last year. Allocation of the property tax levy by
purpose for the year ended September 30, 1984 and the preceding two fiscal years
was as follows:
PuMgses 1983-84 1982-83 1981-82
General Government $10F550F919 $ 9,208,515 $ 8,281,670
Debt service Fund 3,499,654 3,282,385 2,615,264
$14,050,573 $12,490,900 $10,896,934
Expenditures from the General fund totaled $30,455,166, net of allocated charges
of $1,606,933, an increase of 8% over the 1982-83 fiscal year. The increase
in levels of expenditures for major functions of the City over the preceding year
are shown in the following tabulation (before allocated charges).
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General Governmental Operations, Continued
Increase
(Decrease)
Percent
Over Prior
Function
Acount
of Total
Year
Administrative Services
$7,280,506
22.7%
$2,279,067
Police
6,169,438
19.2
483,645
Fire
4,321,815
13.5
438,049
Parks and Recreation
2,661,586
8.3
77,351
Accounting/Finance
4801,639
1.5
(83,297)
Planning
965,744
3.0
195,737
Public Works
6,711,669
20.9
(10,104,328)
Health
1,432,771
4.5
112,271
Traffic and Transportation
2,037,931
6.4
535,652
$32,062,099
100.0$
$2,934,147
V- - : arc- �,•
The Civic/Oou m nity 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 City Hotel/Motel Tax Fund is a special revenue fund
used to account for revenues from the City -imposed tax of 4% on rental of hotel/
motel rooms within the City. The Revenue Sharing and Community Development Block
Grant are also included as Special Revenue Funds.
The Participation Paving Fund is a special assessments fund established for the
purpose of paving streets and sidewalks that have been petitioned for paving.
The petitioners and the City jointly participate in the cost of the project with
the City paying 100% of the cost initially and then receiving partial reimbursement
from the property owners. In 1983-84, expenditures totaled $238,667 in the
Participation Paving Fund. Revenues totaled $239,667. Accounts receivable from
property owners at September 30, 1984 total $656,093.
Debt Administration
The ratio of net bonded debt to assessed valuation and the amount of bonded
debt per capita are useful indicators of the City's debt position to municipal
management, citizens and investors. This data for the City at the end of the
1983-84 fiscal year was as follows:
Ratio of Debt
to Assessed Debt Per
Value Capita
Net Direct Bonded Debt $14,445,355 .77 $138.23
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Debt Administration, Continued
Outstanding general obligation bonds at September 30, 1984 totaled $15,375,000
of which $670,000 was issued for water and sewer purposes and is considered to
be self-supporting. The $670,000 includes all Wichita County Water Control and
Improvement District and the 1965 General Obligation Series Bonds. The remainder 1
is considered to be direct tax support debt.
During the past year, $2,020,000 of tax bonds were retired. The City's bond '
ratings are as follows:
Moody's Investors Standard and
Service Pioor's ,
General Obligation Bonds Al AA
Water and Sewer Revenue Bonds Al A+
._#�.. a_li__
Cash which was temporarily idle during the year, including debt retirement funds,
operating funds, and bond proceeds, was invested in certificates of deposit,
money-market checking accounts or savings accounts with the City depository.
Certificates of deposit terms ranged from 7 days to 365 days. A fixed rate of
9.26% compounded daily was earned on certificates less than 90 days and a fixed
rate of 9.46% compounded daily was earned on certificates whose maturity was
greater than 90 days in accordance with our depository contract. The total amount
of interest earned on certificates of deposit amounted to $2,395,051. This is
a decrease of $119,107 over fiscal year 1982-83. Money-market checking accounts
earned $81,446 and savings accounts earned $10 for a combined interest earnings
of $2,476,507 for 1983-84.
.. In 6 N 7.1�K _ 7 .
The Capital Projects Funds are used to account for all resources used for the
acquisition of capital facilities except those financed by special assessment
and enterprise funds. At the end of the fiscal year, completed projects are
transferred to General Fixed Assets. During the 1983-84 fiscal period, expendi-
tures from the Capital Projects Funds amounted to $3,532,658. Capital Projects
Funds balances on hand as of September 30, 1984 were $5,340,079. Significant
uncompleted projects in the Capital Projects Funds at the present time are:
Barnett Road Reconstruction Project
Jaycee Park Roadway and Parking Improvements
Southwinds/Brenda Hursh Drainage Project
Plum Creek Drainage Project
Thompson Road Construction Project
General Fixed Assets
The general fixed assets of the City are those fixed assets used in the performance
of general governmental functions and exclude.the fixed assets of utility and other
enterprise funds. As of September 30, 1984, the general fixed assets of the City
amounted to $46,833,607
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 nonpublic organizations. Included in the Fiduciary Funds are certain Federal
and State grants, social security, payroll, tax collection, accounts payable funds
and the employee benefit trust fund.
Enterpris
The Water and Sewer Fund operations for the past three fiscal years is presented
in the following tabulation:
1983-84
1982-8
1981-82
Net Income (loss)
$2,676,161
$1,245,238
$ 403,022
Income Available for Debt Service
41844,678
3,242,485
2,773,414
Maximum Annual Debt Service
1,347,556
1,394,164
1,440F487
Maximum coverage (income available for
debt service divided by maximum annual
debt service)
3.60
2.32
1.93
Airport'
The operation of the Airport for the year
ended September
30, 1984 resulted in
a net loss of $50,623. Operating revenues, net of the operating transfer in,
increased by 18.6% and operating expenses
decreased by 2.9% from the
preceding
year.
Transit:
The operation of the Transit System for the fiscal year ended September 30, 1984
resulted in a net loss of $168,814. Operating revenues decreased 16.7% and
operating expenses increased 7.4% from the preceding year.
ix
.q• --* - -
On January 15, 198% the City issued $190,9550,000 of water and sewer refunding
bonds, Series 1984 which were used to provide sufficient funds in order to refund
all of the City's outstanding Water and Sewer System Revenue Bonds, to provide
funds for improvements and extensions of the City's combined water and sewer
system and to pay a portion of the costs related to the issuance of the Series
1984 Bonds.
On October 1, 1984, the City established a separate enterprise fund for the
sanitation division which includes the sanitation department, solid waste transfer
station and the City's landfill. The Sanitation fund previously was reported in
the City's General fund and its assets in the General Fixed Asset Account Group.
Resy-onsibility of Financial Statements
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.
Local governmental accounting principles are primarily promulgated by the
Governmental Accounting Standards Board (G%SB). The G 03 has identified
these principles in their issuance of Statement 1. These principles have
been adhered to in the preparation of this report.
Notes to Financial Statements
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.
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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 Hupp, Thompson & Company's opinion has
been included in this report. The -statistical section of this report was not
included within the scope of the audit.
Acknowledggrg t_s
' I would like to express my appreciation to members of the Accounting Division
for their diligence in the preparation of this report.
Sincerely yours,
Fred L. eemer, CPA
Director of Finance/
Chief Accounting Officer
0
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FINANCIAL SECTION
G
E
77
A Professional Corporation LV
HUPP THOMPSON
Donald J. Hupp, CPA
Dennis V. Thompson, CPA
Terry L. Crain, CPA
Joseph D. Bauer, CPA
Certified Public Accountants
& COMPANY
The Honorable Mayor and Members of the City Council
City of Wichita Falls, Texas
We have examined the Combined Financial Statements of the City of Wichita
Falls, Texas as of September 30, 1984 and 1983 and for the years then ended,
as listed under General Purpose Financial Statements in the Table of Contents.
our examination was made in accordance with generally accepted auditing
standards and, accordingly, included such tests of the accounting records and
such other auditing procedures as we considered necessary in the circumstances.
In our opinion, the aforementioned Combined Financial Statements present fairly
the financial position of the City of Wichita Falls, Texas at September 30, 1984
and 1983 and the results of its operations and changes in financial position of
its proprietary funds for the years then ended, in conformity with generally
accepted accounting principles applied on a consistent basis.
Our examination was made for the purpose of forming an opinion on the Combined
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 Combined Financial Statements of
the City of Wichita Falls, Texas. The information has been subjected to the
auditing procedures applied in the examination of the Combined Financial State-
ments and, in our opinion, is fairly stated in all material respects in rela-
tion to the Combined 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.
January 3, 1985
(817)322.3103/ 1100 Wichita Tower I Wichita Falls, Texas 76301.6589
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GENERAL PURPOSE
FINANCIAL STATEMENTS
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EXfIIBIT A-4
i
CITY OF WICHITA FALLS, TEXAS
COMBINED STAMEM OF REWMES, EXPENSES AND CMNCES
IN RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES
(ENTERPRISE FUNDS ONLY)
for the years ended September
30,
'F
1984
1983
Operating revenues:
Charges for services
$10,612,213
$ 8,837,965
Rents, concessions, and other
361,146
346,576
10,973,359
9,184,541
Operating expenses:
R
Personnel services
2,891,626
2,737,638
Supplies and materials
690,528
768,186
Maintenance and repairs
lF006r686
1,308,378
Utilities and other services
1,677,358
1,452,765
Insurance and contract support
342,069
340,726
6,608,267
6,607,693
Operating income (loss) before depreciation
and amortization
Depreciation and amortization
Operating income (loss)
Non -operating revenues (expenses):
Interest income
Gain (loss) on sale of fixed assets
Interest expense
Operating grants
Income (loss) before other financing sources
and (uses) :
Operating transfers in
Operating transfers out.
Contributions from operating grants
Net income ( loss)
Retained earnings, beginning
Retained earnings, ending
4,365,092 2,576,848
(1,545,655) a 557.087)
2,819,437 1,019,761
428,581 414,028
(129,075) 8,901
(419,214) (512,376)
137,020 217,316
17,312 127,869
2,836,749 1,147,630
136,149
(411,840)
31,815
(243,876)
2,592,873
118,908
(473,283)
367,867
13,492
1,161,122
24,160,939 22,999,817
$26,753,812 $24,160,939
The accompanying notes are an integral part of these financial statements.
I
[i
I
EXHIBIT A-5
CITY OF WICHITA FADS, TEXAS
COMBINED STATEMENT' OF CHANCES IN FINANCIAL POSITION -
ALL PROPRIETARY FUND TYPES (ENTERPRISE FUNDS ONLY)
for the years ended September 30,
Source of Funds:
Net income
Item not requiring working capital:
Depreciation and amortization
Loss on sale of assets
Other
Contributions in aid of construction
Proceeds from sale of assets
Fixed assets retired
io
Customer deposits, net
MV
Application of Funds:
Deferred charges
Purchase of property and equipment
Retirement of revenue bonds
Payment of U. S. Government Obligation
NET INCREASE (DECREASE) IN WORKING CAPITAL
Summary of Net Changes in Working Capital:
Increase (decrease) in current assets:
Cash and short-term investments
Trade receivables
Due from other funds
Receivables, other goverment agencies
Inventory
Prepaid expenses and other
Increase (decrease) in current liabilities:
Accounts payable trade
Due to other funds
Contracts payable
Other
Notes and bonds payable
Deferred revenue
NET INMEASE (DECREASE) IN WORKING CAPITAL
1984 1983
$ 2,592,873 $ 1,161,122
1,545,655
129,075
4,267,603
959,800
78,628
147,636
5,453,667
2,158,337
920,000
13,988
3.092.325
1,557,087
(18,759)
2,699,450
lr207r982
1,414
52,136
3,960,982
9,842
3,487,575
930,000
13,548
4,440,965
$ 2.361.342 $ (479.983)
$ 1,874,169
$(1,216,773)
(47,528)
228,216
12,070
(27,754)
(71,036)
(161,074)
70,326
45,421
(43,258) (464.381)
1,794,743 (1,596,345)
(45,969)
62,655
(445,986)
(567,230)
(26,141)
(34,462)
(46,408)
(100,615)
(2,095)
(476,710)
(566,599)
(1,116,362)
$ 2.361,342 $ (429.983)
The accompanying notes are an integral part of these financial statements.
1
7
CITY OF WICHITA FMI S, TEXAS
NOTES TO THE FINANCIAL STAT EMS
September 30, 1984
1. DEFINING THE REPORTING EN=
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, 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 avail-
able to the citizens of that entity.
The four organizations identified and evaluated were:
Employee Benefit Trust Fund
Firemen's Relief and Retirement Board
Housing Authority of the City of Wichita Falls, Texas
Wichita County/City Hospital Board
Of the four organizations evaluated only the first one, the Employee Benefit
Trust Fund met all of the criteria listed above. Therefore only the Employee
Benefit Trust Fund is included in the City's general purpose financial state-
ments.
Although the three remaining organizations evaluated met one or more of the
above criteria, City management determined that they should all be excluded
as part of the reporting entity. They 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.
8 IM
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS - Continued
September 30, 1984
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting policies of the City conform to generally accepted
accounting principles as applicable to governments. The following
is a summary of the more significant policies:
IA. Basis of Presentation
The financial transactions of the City are recorded in individual
funds and account groups. The various funds and account groups are
reported by type in the financial statements. Amounts in the "total -
memorandum only" columns represent a summation of the combined finan-
cial statement line items of the fund types and account groups and are
presented only for analytical purposes. The summation includes fund
types and account groups that use different bases of accounting, both
restricted and unrestricted amounts, interfund transactions that have
not been eliminated, and the caption "amounts to be provided," which
is not an asset in the usual sense. Consequently, amounts shown in
the "total - memorandum only" columns are not comparable to a consolida-
tion and do not represent the total resources available or total
revenues and expenditures/expenses of the City.
Certain totals for 1983 have been reclassified to conform with the 1984
presentation.
The City uses the following fund categories, fund types, and acoount
groups:
General Fund - To account for all financial resources except those
required to be accounted for in another fund. The general fund is the
' City's operating fund. -
Special Revenue Funds To account for the proceeds of specific revenue
sources (other than special assessments or major capital projects) that
are legally restricted expenditures for specified purposes.
Debt Service Funds - To account for the accumulation of resources for,
and the payment of, general longterm debt principal, interest, and
related costs.
Capital Projects Funds - To account for financial resources to be used
for the acquisition or construction of major capital facilities (other
than those financed by proprietary and special assessment funds).
1
1 9
CITY OF WICHITA FALLS TEXAS
NOTES TO THE FINANCIAL SPATES - Continued
September 30, 1984
2. SUMMARY OF SIGNIFICANP ACCOUNPING POLICIES, Continued
Special Assessments Funds - To account for the financing of public
improvements or services deemed to benefit the properties against
which special assessments are levied.
Proprietary Funds
Enterprise Funds - To account for operations 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 recovered primarily through user charges.
Fiduciary Funds
Trust and Agency Funds - To account for assets held by the City in a
trustee capacity or as agent for individuals, other governments, and/or
other funds. The expendable trust fund is accounted for in essentially the
same manner as governmental funds. Agency funds are custodial in nature
(assets equal liabilities) and do not involve measurement of results of
operations.
General Fixed Assets Account Group - To account for all fixed assets
of the City, except those accounted for in the proprietary funds.
General Long -Perm Debt Account Group - To account for all long-term
debt of the City and accrued vacation and sick leave, except for those
accounted for in the proprietary funds.
B. Basis of Accounting
Governmental and trust and agency funds are accounted for on the modified
accrual basis of accounting. Governmental fund and expendable trust revenues
are recognized when received except those accruable, which are recognized
as revenues when measurable and available. Available means collectible within
the current period or soon enough thereafter to be used to pay liabilities of
the current period. Such accruable revenue items are property taxes, sales
tax and reimbursable -type grants. Penalty and interest on delinquent property
taxes, licenses and permits, fines, recreation fees, and other service charges
are recorded as revenues when received because generally they are not measurable
until actually received. Expenditures are recognized on the accrual basis except,
principal and interest payments on general long --term obligations are reported
only when due. Agency fund activities do not involve measurement of results of
10
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS - continued
September 30, 1984
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
B. Basis of Accounting, continued
operations. Proprietary funds are accounted for on the accrual basis of
accounting. Their revenues are recognized in the period earned and expenses
are recognized in the period incurred. Proprietary funds' unbilled services
receivable are recognized as revenue at year end.
C. Budgetary Accounting
An operating budget is adopted each fiscal year for all operating
(General, Debt Service, Enterprise, and Special Revenue) funds on
the same basis as used to reflect actual revenues and expenditures.
The City Manager submits a proposed operating budget for all operating
funds to the City Council each fiscal year. The budgets are prepared
on the basis of accounting used by each fund as described above. After
public hearings to obtain taxpayer comments, the budget is legally
enacted through passage of an ordinance by October 1 each year.
Budgetary control is exercised at the division level. The City Manager
is authorized to transfer budget amounts between divisions within any
departments that are in the same fund; however, any supplemental appropria-
tions that alter the total expendenditures of one of the operating funds
mentioned above must be approved by the City Council. Subsequent supplemental
appropriations were approved by the City Council and were not significant in
relation to original appropriations. It is the amended budget that is presented
in the budget versus actual financial statement disclosures. Unencumbered
appropriations lapse at year-end.
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 and Special Revenue funds.
Encumbrances outstanding at year end are reported as reservations of fund
balance for subsequent -year expenditures.
E. Investments
Investments are stated at cost, which approximates market.
' F. Inventory
Inventories of the General and Proprietary funds consist of supplies and
various materials used for the maintenance of fixed assets. The "oonsump-
tion" 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 the lower of
first -in, first -out cost or market.
1 11
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS - Continued
September 30, 1984
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
G. Fixed Assets and Depreciation
The fixed assets of the Proprietary funds are stated at cost except
for donated fixed assets which are reported at estimated fair market
value at the date received. Depreciation is charged to the operations
of the Proprietary funds over the fixed assets' estimated useful lives
using the straight line method. The useful lives range from three to
fifty nine years as follows:
Buildings, systems and improvements 20-59 years
Machinery and equipment 10 years
Furniture and fixtures 3-5 years
Motor vehicles 3-5 years
The City's policy is to capitalize interest on Proprietary funds' construction
projects until substantially am pleted. General fixed assets consisting of
certain improvements such as roads, curbs and gutters, streets and sidewalks,
drainage systems, and lighting systems, have not been included in the General
Fixed Assets Account Group. Such assets generally are immovable and of value
only to the City. The approximate value of such assets at September 30, 1984 was
$29,700,000.
Other fixed assets acquired or constructed for general governmental
purposes are reported as expenditures in the fund that finances the
asset acquisition and capitalized in a self -balancing group of accounts
entitled the General Fixed Assets Account Group. Additions are capitalized
at cost or estimated market value when cost is not available. No deprecia-
tion has been provided and no interest has been capitalized for the General
Fixed Assets Account Group.
H. Grants and Other Intergovernmental Revenues
Categorical grants, except for grants that benefit more than one fund
and "pass through" grants, are accounted for within the appropriate
fund of the City to be financed by such grants. Revenues are recorded
when they became susceptible to accrual. Generally, expenditures govern
eligibility for income recognition, and the revenue is recognized as
expenditures are incurred. Grants financing more than one fund or financ-
ing secondary recipients such as the Federal Revenue Sharing and Community
Development Block grants are recorded in Special Revenue funds pending a
determination of the programs or activities to be financed by such sources.
Revenues are recognized when they became measurable and available, and
expenditures are recorded in the fund benefited by such expenditures.
a
11
11
12
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS — Continued
September 30, 1984
2. SUMMAM OF SIGNIFICANT ACCOUNTING POLICIES, Continued
I. 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.
Designations of unreserved fund balances in governmental funds indicate
City management's tentative plans for use of financial resources in a
future period.
J. Interfund Transactions
The financial statements reflect two types of interfund transactions.
The operating transfers between the General Fund and the Enterprise
Funds are legally authorized transfers of a permanent nature.. The
payable and receivable accounts to and from other City funds are used
to record temporary loans and reimbursable services between the various
funds.
The General Fund provides various administrative services for the
Enterprise funds. Data processing and central garage costs are
allocated to the Enterprise funds. The City does not allocate any
other costs to the Enterprise funds.
R. Insurance
The City created an Expendable Trust Fund in the current fiscal year to
account for insurance activities. The City now 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 partici-
pating 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. The fund balance of the funds can revert back to the City at any
time.
3. PROPERTY TAX
The City property taxes are levied on October 1 and are payable by
January 31. State law allows that they may be paid in two installments
on December 1 and July 1. Property taxes attach as an enforceable lien
on property as of the prior January 1.
1 13
3.
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS - Continued
September 30, 1984
PiOPEM TAX, Continued
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,
1984 was $.7464 per $100 which means that the City has a tax margin of $1.5036
per $100, and could raise up to $28,304,451 additional tax revenue a year from
the present assessed valuation of $1,882,445,516 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.
Taxes levied and uncollected for the School and College District totaled
$2,199,666 and $1,841,215 at September 30, 1984 and 1983, respectively,
and are reflected in the Tax Collection Fund in the agency fund group.
4. COLLECTIONS FROM CATEGORICAL BIOC:K GRANTS AND FEDERAL REVENGE SHARING
Categorical grant expenditures for the years ended September 30, 1984 and
1983, respectively, have been reflected in the following City funds:
General Fund
Airport Fund
Transit Fund
Water and Sewer Fund
1984 1983
$4r024r681 $3,112,064
335,088
395,790 325,122
227,704 428,382
$4.648.175 $4 IOu,656
The financing uses of the Revenue Sharing Fund and Community Development
Block Grant as reflected in the General Fund and the Enterprise Fund are
detailed as follows:
Personnel services
Supplies and materials
Maintenance
Utilities and other
services
Capital outlay
Revenue Sharing
Budat(1) Actual
$ 46,305 $ 45,719
777 777
1,448,809 556,704
Community Development
Block Grant
%jut (1) Actual
$ 338,415 $ 338,284
111,655 8,780
2,862,506 788,484
468,570
223,306
485,103
317,770
1,631,713
1,207,339
1,332,264
339,666
$3,596,174
$2,033,845
$5,029,943
$1,792,984
(1) Budgeted amounts as shown include current and prior year appropria-
tions to be carried forward for future use.
14
0
VlWll45j4sJ(l�3WFS�tN6:;tNfS �.,.�., ______ �uaa✓ +wrt+n��v�NtFmr m. 's�nti (,^i 't vr�t� rr � ���� _.. .........
0
F
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FILIAL STATEMENTS - Continued
September 30, 1984
S. PAYABLE TO U. S. GOVERNNI M
The City of Wichita Falls and Wichita Falls County Water Improvement
District No. 2, upon the completion of the Lake Kemp reconstruction
project 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 of $51,974 which includes interest at the rate of
3.253%.
The City's share of the total costs ($5,795,952) is reflected in fixed
assets, and the City's share of the U. S. Government funded portion
($4,479,135) is reflected as a contribution in aid of construction.
The remaining unpaid debt is classified as follows:
1984 1983
Longterm $1,153,697 $1,167,685
Current 13,988 13,549
$1,167,685 $1,181,234
6. EMPLOYEE RETIREMENT PLANS
City employees, except for firemen, are covered by the Texas Municipal
Retirement System. The Texas Municipal Retirement System contribution
was 5.02% and 4.65% of each participant's salary in 1984 and 1983,
respectively. The actuarial cost method used by the Texas Municipal
Retirement System in performing the actuarial valuation was the unit
credit actuarial cost method. Prior service liability of $2,279,319
is funded by the City annually over a period -of 25 years and is included
in the contribution rate.
Accumulated plan benefit information, as estimated by consulting actuaries,
and plan.net assets, are as follows:
December 31,
1983 1982
Actuarial present value of accumulated plan benefits:
Vested $11,910,317 $ 8,260,754
Non vested 3,313,793 4,556,206
$15,224,110 $12,816,960
NET ASSETS AVAILABLE FOR BENEFITS $12,944,791 $11,239,691
There have been no changes in the actuarial cost method since the previous
valuation; however, the actuarial assumptions have been changed. The change
increased the unfunded accrued liability by $89,422 and decreased the 1985
retirement contribution rate by .08%. The assumptions were developed from
the experience of the System. The withdrawal and payroll increase assumptions
also reflect the experience of the City. The payroll was assumed to increase
5% per year.
9
15
F
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS - Continued
September 30, 1984
6. E PUWYEE RETIREMENT PLANS, Continued
Changes in benefits have been made since the previous valuation which affect
the comparability of the two valuations.
Because of the money purchase nature of the system, there was no need
for an interest rate assumption in determining the actuarial present
value of accrued benefits for nonretired employees. For annuitants,
the actuarial present value of plan benefits was calculated using a 5%
interest rate assumption.
Firemen are covered by a self-administered Firemen's Relief and Retire-
ment Fund. The Firemen's Relief and Retirement Fund contribution was
7.5% of each participant's salary in 1984 and 1983. The actuarial cost
method used to value the Firemen's Relief and Retirement Fund was the
entry -age -actuarial cost method. The unfunded accrued liability of
$2,245,064 is amortized by a level percentage of payroll over a period
of 26 years.
March 31, 1983
Actuarial present value of accumulated plan benefits:
Vested $4,166,770
Non -vested 142,248
$4,309,018
NET ASSETS AVAILABLE FOR BENEFITS $4,045,578
The actuarial present value of plan benefits was calculated using a
7.5% interest rate assumption. The carrying value of the Firemen's
Relief and Retirement Fund assets were $4,045,578 and $3,469,980 in
1983 and 1982, respectively.
The Plan was amended October 26, 1983 to adopt a new plan of benefits.
The City's contributions, to both plans, were charged to operations
as follows:
General Fund
Water and Sewer Fund
Airport Fund
Transit Fund
Revenue Sharing
Agency Fund
1984
1983
$825,459
$749,070
103,783
91,820
1,697
2,256
7,875
7,680
6,628
6,261
2,600
$948,042 $857,087
191
16
I
E
n
J
9
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS TES - Continued
September 30, 1984
7. OPERATING TRANSFERS OF SURPLUS FUNDS
During 1984 and 1983, $411,840 and $473,283, respectively, surplus funds
in the Water and Sewer Fund were transferred to the General Fund. At the
time of the transfers, all requirements of the bond reserve fund and the
interest and sinking fund in the Water and Sewer Fund had been satisfied.
The transfers were made from surplus revenues of the Water and Sewer Fund
in compliance with existing ordinances governing such transfers and in
conformance with excess revenue provisions of the pertinent revenue bond
indentures.
The General Fund made operating transfers to the Transit Fund of $136,149
in the current fiscal year and $118,908 in the prior fiscal year. These
transfers were operating subsidies to the Transit System and were au-
thorized by the City Council.
The Hotel/Motel Fund made an operating transfer of $120,935 to the
Civic/Cmmunity Promotion Fund. This transfer was made from surplus
revenues of the Hotel/Motel Fund.
Operating transfers are reconciled as follows:
Fund
Transfers In
Transfer Out
General Fund
$411,840
$136,149
Enterprise Funds:
Water and Sewer Fund
411,840
Transit Fund
136,149
Special Revenue Funds:
Hotel/Motel Fund
120F935
Civic/Oamiunity Promotion Fund
120,935
$668.924 $668,924
8. 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. Rent expense on this lease was
$6,289 and $8,992 for the fiscal years ended September 30, 1984 and 1983,
respectively.
17
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS - Continued
September 30, 1984
9. LOW-r-TERM DEBT
The following is a summary
of changes in long-term obligations of the
City for the year ended
September 30, 1984:
General
Obligation Revenue
Total
Bonds payable at October
1, 1983
$17,395,000 $8,310,000 $25,705,000
New bonds issued
-0- -0-
-0-
Bcnds retired
(2,020,000) (930,000) (2,950,000)
Bonds payable at September 30, 1984
$15,375,000 $7,380,000
$22,755,000
Bonds payable at September 30, 1984
are comprised of the
following individual
issues:
Range of
Final Annual
Bonds
Interest
Maturity Serial
Bonds Outstanding
Rates
Date Payments
Authorized at 9/30/84
General Obligation Bonds:
1955 Wichita County Water
4-1/2% to
l/ 1/85 $ 2,000 to
$ 275,000 $ 18,000
Control and Improvement
4-3/4%
18,000
District No. 4
1956 Wichita County Water
4% to
ll/ 1/86 5,000 to
560,000 115,000
Control and Improvement
4-1/2%
40,000
District No. 5
1959 Wichita County Water
4-3/4% to
9/ 1/89 5,000 to
385,000 120,000
Control and Improvement
5-1/2%
28,000
District No. 6
1959 Wichita County Water
4-3/4% to
9/ 1/89 5,000 to
300,000 117,000
Control and Improvement
5-1/2%
30,000
District No. 4
1963 General Obligation
.001% to
8/ 1/88 100,000 to
2,680,000 480F000
Bonds
5%
120,000
1965 General Obligation
.0005% to
8/15/85 300F000
6,000,000 300F000
Bonds (issued for Water
5%
and Sewer improvements)
1968 General Obligation
.005% to
7/10/87 150,000 to
3,000,000 525,000
Bonds
5%
175,000
W]
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FIMNCIAL STATEMENTS - Continued
September 30, 1984
9. IDWG-TERM DEBT, Continued
Range of
Final
Annual
Bonds
Interest
Maturity
Serial
Bonds
Outstanding
Rates
Date
Pavments
Authorized
at 9/30/84
General Obligation Bonds -
Continued:
1968-A General Obligation
3-1/28 to
6/ 1/89
85,000
to
4,435,000
1,250,000
Bonds
5%
250,000
1970 General Obligation
5% to 7%
2/15/90
100,000
to
2,000,000
700,000
Bonds
125,000
1971 General Obligation
4% to 4.9%
2/15/91
125,000
2,000,000
875,000
Bonds
1980 General Obligation
6% to 8%
6/15/01
175,000
to
3,800,000
3,275,000
Bonds
200,000
1981 General Obligation
11% to 13%
12/ 1/96
40,000
to
4,990,000
4,650,000
Bonds
450,000
1982 General Obligation
10% to 12%
8/ 1/97
225,000
to
3,400,000
2,950,000
Bonds
250,000
Total General Obligation
Bonds
33,825,000
15,375,000
Revenue Bonds:
Water and Sewer Revenue
Bonds:
1963 Water and Sewer
Revenue
1966 Water and Sewer
Revenue
1966-A Water and Sewer
Revenue
1968 Water and Sewer
Revenue
1973 Water and Sewer
Revenue
.001% to 8/ 1/88 220,000 to 5,585,000
5% 225,000
.0005% to 2/ 1/91 75,000 3,800,000
5% 155,000
4% to 5% 8/ 1/91 75,000 1,800,000
4-1/4% to 2/ 1/88
5%
4-1/28 to 8/ 1/93
5-1/28
19
100,000 to 2,175,000
125,000
100,000 2,000,000
900,000
1,005,000
525,000
500,000
900,000
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS - Continued
September 30, 1984
9. LDNG'r-TERM DEBT, Continued
Range of Final Annual Bonds
Interest Maturity Serial Bonds Outstanding
Rates Date Payments Authorized at 9/30/84
Revenue Bonds, Continued
Water and Seger Revenue
Bonds - continued
1978 Water and Sewer
Revenue Bonds
1980 Water and Sewer
Revenue Bonds
1981 Water and Sewer
Revenue Bonds
1982 Water and Sewer
Revenue Bonds
Total Water and Sewer
Revenue Bonds
Airport Revenue Bonds:
1967 Airport Revenue
Total Airport Revenue
Bonds
Total Revenue Bonds
Total All Bonds
5.1% to 8/ 1/98
5.9%
5% to 7.6% 2/ 1/01
11% to 13% 2/ 1/96
10-1/2% to 8/ 1/97
12-1/4%
4-1/2% 4/15/87
60,000 1,200,000 840,000
50,000 1,000,000 850,000
50,000 to 1,070,000 970,000
100,000
60,000 to 950,000 830r000
75,000
19,580,000 7,320,000
5,000 to 130,000 600,000
20,000
130,000 60,000
19,710,000 7,380,000
$53,535,000 $22,755,000
The net revenue of the Water and Sewer Fund and Airport Fund are pledged
as collateral
for the revenue
bonds outstanding in the respective funds.
The annual requirements to pay principal and
interest on the
obligations outstanding as of
September 30,
1984, are as follows:
Year Ending
General
Septe&er 30
Obli,=ion
Revenue
Total
1985
$ 3,097,288
$ 1,370,256
$ 4,467,544
1986
2,681,012
1,322,458
4,003,470
1987
2,588,981
1,274,661
3,863,642
1988
2,264,428
1,208,553
3,472,981
1989-93
7,781,778
3,437,671
11,219,449
1994-98
4,746,150
1,427,027
6,173,177
1999-2001
672,000
164,088
836,088
$23.831,637
$10,204,714
$34,036,351
20
,
... 11 . ,.- .... ......... ._..,... .n..r:U-.
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS - Continued
September 30, 1984
9. UJNC, JMR4 DEBT, Continued
$929,646 is available in the Debt Service Fund to service the
general obligation bonds.
There are limitations and restrictions contained in the various bond
indentures. The City is in compliance with all significant provisions
for such limitations and restrictions.
10. FIM ASSETS AND DEPRECIATION
A summary of proprietary fund type property, plant and equipment at
September 30, 1984 follows:
Water and
Transit
Sewer
Total
Land and betterments
$11468,175
$ 39,814
$18,938,110
$20r446,099
Buildings, systems, and
improvements
11451,662
626,868
45,746,029
47,824,559
Machinery and equipment
25,633
27,325
2,076,634
20,129,592
Furniture and fixtures
240,535
5,805
45,639
750,979
Motor vehicles
416FO25
837,927
1,253,952
Construction in progress
234.283
234,283
2,9700,005
1,1150,837
670,878,622
71,9640,464
Less accumulated depreciation
(645,536)
(303,071)
(24,435,868)
(25,384,475)
Net plant and equipment $2.324,469 $ 812.766 $43.442.754 $46,579.989
The following table summarizes the changes in the components of the
General Fixed Assets Account Group:
Land and betterments
Buildings and improve-
ments
Machinery and equipment
Furniture and fixtures
Motor vehicles
Construction in
progress
Total
Balance
Sept. 30,
1983
Additions Deletions
$14,925,289
$ 49,665 $
(32,149)
15F077,246
2,865,021
(17,197)
3,0050,408
269,102
(38,570)
979,287
270,903
(1,396)
7,247,545
1,144,846
(1480,652)
1,298,047
182,212
Transfers
In (Out)
$1,298,047
Balance
Sept. 30,
1984
$14,942,806
' : IT i—
19,223,117
3,235,940
1,005,794
8,243,738
$42,532,822 $4,538,749 $ (237,964) $46.833.607
21
IIIA�rn.9 r®
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS - Continued
September 30, 1984
11. FUND DEFICIT
Transit - The deficit in the Transit Fund arises because current and
prior year revenues were not able to cover operating expenses.
12. SEGMENT INFORMATION FOR ENTERPRISE FUNDS
The City maintains three enterprise funds which provide transportation
and water and sewer services. Segment information for the year ended
September 30, 1984 is as follows:
Total
Water Enterprise
AioQrt Transit and Sewer Funds
Operating revenues $ 192,239 $ 157,252 $10,623,868 $10,973,359
Depreciation and amortization
expense
Operating income or (loss)
Operating grants, entitlements,
and shared revenue
Operating transfers in (out), net
Net income or (loss)
Plant, property and equipment:
Additions
Deletions
Total identifiable assets
Net working capital
Bonds and other long-term
liabilities
Total equity
102,606
32,214
1,410,835
1,545,655
(59,859)
(305,392)
3,184,688
2,819,437
137FO20
31,815
168,835
136,149
(411,840)
(275,691)
(50r623)
(32,665)
2,676,161
2,592,873
395,133
1,763,204
2,158,337
27,414
1,756
338,714
367,884
2,551,128
981,183
51,375,065
54,907,376
195,066
(11,972)
61111,470
6,294,564
40,000
7,573,697
7,613,697
2,479,535
800r794
41,340,346
44,620,675
22
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENSS - Continued
September 30, 1984
13. IN UFLM RECEIVABLE AND PAYABLE BALANCES
Individual fund interfund receivable and payable balances at September 30,
1984 are:
Interfund
Interfund
Fund
Receivables
Pavables
General Fund
$ 4,143
$ 64,557
Enterprise Funds:
Transit Fund
120
Water and Sewer Fund
13,999
Agency Funds:
Section 8 Housing Fund
10,155
16
Accounts Payable Fund
110,926
18,836
Payroll Fund
1,251
Tax Collection Fund
670
Special Revenue Funds:
Revenue Sharing
46,353
$131.013
$131.013
14. DESCRIPTION OF LEASING ARRANGMVS
Computer and other equipment leases,
expiring in 1986,
1987 and 1989, a
vehicle lease expiring in 1988, and a lease of land expiring in 1991" are
classified as capital leases and are
included in the General Fixed Asset
account group and General Long Term Debt account group.
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 removed
or replaced by other leases. The City leases certain equipment and data
processing software under operating leases expiring in 1984-1989.
1. Capital Leases
The following is an analysis of the leased property under capital leases
by major classes:
Asset Balances At
September 30,
Classes of Propgrty 1984 1983
Equipment $424,486 $442,307
Motor vehicles 339,245 339,245
Land 50.000 50.000
$813.731 $831,552
23
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL 9rATacws - Continued
September 30, 1984
14. DESCRIPTION OF LEASING AMWMIEWS, Continued
The following is a schedule by years of future minimum lease payments
under capital leases together with the present value of the net minimum
lease payments as of September 30, 1984:
Year ending September 30:
1985
$226,671
1986
188,439
1987
128,680
1988
84,557
1989
6,634
Later years
10,000
Total minimum lease payments
644,981
Less: Amount representing interest (1)
(86,419)
Present value of minimum lease payments (2) $558,562
The following is a schedule by years of future minimum rental payments
required under operating leases that have initial or remaining noncancelable
lease terms in excess of one year as of September 30, 1984:
Year ending September 30:
1985
1986
1987
1988
1989
Later years
Total minimum payments required (3)
$106,201
102,466
85,541
7,141
7,141
614
$309.104
0
24
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS - Continued
September 30, 1984
14. DESCRIPTION OF LEASING ARRANGEMENTS, Continued
Operating Leases, Continued
The following schedule shows the composition of total rental expense for
all operating leases:
Year Ending
September 30,
1984 1983
Minimum rentals $105,782 $115,421
Contingent rentals 6,289 8.992
$112.071 $124.413
(1) Amount necessary to reduce net minimum lease payments to present
value calculated at the City's incremental borrowing rate at the
inception of the leases.
(2) Reflected in the general long-term debt account group as lease
obligations payable.
(3) Minimum payments do not include contingent rentals which may be
paid under the airport lease based on the number of scheduled
landings.
15. RESTRICTED ASSETS
Restricted assets in certain Enterprise Funds, held for specific purposes in
accordance with bond ordinances or other legal restrictions, are comprised
of the following:
Airport water and Total
Fund ney er Entegise
Debt Service:
Cash and short-term investments
Capital Improvements:
Cash and short term investments
Receivables
Customer Deposits
Cash and short-term investments
Other:
Cash and short-term investments
$54,604 $1,351,409 $1,406,013
1,596,732 1,596,732
150,802 150,802
654,042 654,042
78,360 78,360
$5 604 $3,831,345 $3,885,949
1 25
CITY OF WICAITA FALLS, TMMS
NO►MS TO THE FINANCIAL SrATEMENrS - Continued
September 30, 1984
16. C OMITMEMS AND OONTINGEW LIABILITIES
The City's liability for accrued vacation and sick leave excluding
that which is recorded in the Enterprise funds was $2,586,609 at September 30,
1984 and $2,509,394 at September 30, 1983. These accruals are 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.
The City is contingently liable as endorser of a $400,000 note payable by
Wichita Falls General Hospital to a bank for the purchase of land. At
September 30, 1984, the remaining balance of the note payable was $53,307,
and all required payments had been made.
Commitments under construction and professional service contracts total
$2,157,015 at September 30, 1984.
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 is not material.
In 1977, the City and Wichita County Water Improvement District Number
Two entered into a sixty year contract with the West Texas Utilities
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
Two in equal amounts. The City receives $150,000 each year through 1986
and then as follows:
Minimum annual charges shall begin when water is actually consumed for
the production of electricity upon completion of the first generation
unit or January 1, 19870, whichever is sooner, in the following amounts
and time schedule:
City's Share
1. Date of completion of first generation
unit or January 11, 1987, whichever is
sooner, and for each of the next five
years $250,000
2. For each of the next five years 375,000
3. F1or all years thereafter until end of
contract 500,000
26
CITY OF WICHITA FALLS TEXAS
NOTES TO THE FINANCIAL STATEMENTS - Continued
1 September 30, 1984
1
1 16. COMMITMENTS AND CONTINGENT LIABILITIES, Continued
For water actually consumed, the Company shall pay the City and Wichita
County Water Improvement District Number Two equally, at the Base Rate
of twenty-three ($.23) cents per one thousand (1,000) gallons, which
can be adjusted annually.
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 standby charges which would have become due and payable during
the following twenty-four month period.
17. SUBSEQUENT EVENTS
On January 15, 1985, the City issued $19,955,000 of Water and Sewer
Refunding Revenue Bonds, Series 1984. The proceeds of the Bonds will be
used to provide monies which, together with other available monies, will
be sufficient to refund all of the City's outstanding Water and Sewer
System Revenue Bonds, to provide funds for improvements and extensions of
the City's combined water and sewer system and to pay a portion of the costs
related to the issuance of the Series 1984 Bonds.
In October, 1984 the City Council segregated and budgeted for the Sanitation
Division as a separate enterprise fund. The Sanitation Division includes the
sanitation department, solid -waste transfer station and the City's landfill.
27
THIS PACE IS IMMIONALLY LEFT BLANK
11
I
I
J
COMBINING AND INDIVIDUAL FUND
FINANCIAL SrATEMENrS
11
E
THIS PAGE IS INIUVIONkLLY LEFT BLANK
Mi_ 'a_ a 71
The General Fund is used to account for all revenues and expenditures not
accounted for in other funds. It receives a greatervariety and amount of
revenues and finances a wider range of governmental activities than any other
fund. Major functions financed by the General Fund include: Ackninistrative;
Finance; Police; Fire; Protective Inspections, such as building, plumbing and
electrical; Traffic Engineering; Public Works Engineering; Street Maintenance;
Health; Commomity Enrichment Activities such as Parks, Recreation, and Library;
and Planning and Sanitation.
EXHIBIT B-1
CITY OF WICHITA FALLS, TEXAS
BALANCE SHEET
GENERAL FUND
September
30.
1984
1983
ASSETS
Cash and short-term investments
$ 9,3091470
$6,991,379
Prepaid items
140,753
108,463
Receivables:
Ad valorem taxes - delinquent (less
$273,640 and
$223,796 allowance for uncollectible
accounts) 1,264,800
990,499
Other City funds
40,143
421,922
Government agencies
726,006
608,147
Other
190,948
600,533
Inventory
339,620
241,373
11,975,810
9,422,316
Restricted assets:
Cash and short-term investments
58,958
Receivable from government agencies
59,670
170,924
Receivables from other City funds
64
3,214
59,734
233,096
$12,035,544
$9.f55,412
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
$ 663,289
$ 631,539
Accrued payroll
611,771
586,085
Payable to other City funds
64,557
9,470
Payable to other government agencies
49,630
24,110
1,389,247
1,251,204
Other current liabilities:
Deposits and refunds payable
32,951
20,248
Advance payments
432,202
456,143
465,153 476,391
Deferred tax revenue
1,203,095
862,131
Payable from restricted assets:
Bank overdraft
38,699
dontracts and trade
4,404
236,872
Other City funds
40,698
Government agencies
1,034
4.683
44,137
282,253
3,101,632
21t871,979
Fund Balance:
Reserve for encumbrances
383,364
935,294
Reserve for inventory
339,690
241,373
Reserve for general liability
250,000
200,000
Unreserved - undesignated
7,960,858
5,406,766
8,933,912 6,783.433
$12,035,544 $9,655,412
The accompanying notes are an integral part of these financial statements.
m
� . A�
EXHIBIT B-2
Page 1 of 3
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF REUIIMS, EXPENDITURES AND CHANCES IN FUND BALANCE -
BUDCET AND A VUAL
GENERAL FUND
for the years ended September 30,
REVENUES:
Taxes:
Ad valorem taxes
Penalties and interest
City sales tax
Franchise taxes
Other taxes
(urges for services:
Sanitation services
Golf, tennis and recreation
fees
Tax collection fees
Other service charges
Licenses and permits:
Building permits
Electrical and plumbing
Health and animal control
Other licenses and permits
Fines:
Municipal Court
Library
Intergovernmental revenue:
Operating grants
Wichita Falls School District
Miscellaneous revenue:
Parking meters
Rentals and concessions
Interest
Sale of fixed assets
Other
TOTAL REVENUES
r
1984
1983
Budget
Actual
Budget
Actual
$10,722,153
$10,724,116
$ 9,483,226
$ 9,268,463
145,000
126,338
125,000
169,582
6,000,000
6,367,174
6,500,000
5,808,161
2,650,000
2,771,872
2,303,000
2,618,663
147,000
186,622
155,600
158,843
19,664,153 20,176,122 18,566,826 18,023,712
4,352,000
4,459,738
3,833,000
3,878,630
244,000
210,610
256,000
230r533
125,000
110,504
100,000
102,128
121,810
668,348
139,165
143,119
4,842,810
5.449,200
4,328,165
4,354,410
80,000
119,886
90,000
100,729
50,000
96,601
52,000
62,271
74,400
84,097
74,500
84,412
31,450
41,847
28,475
37,026
235,850
342,431
244,975
284,438
762,000
735,201
619,000
792,632
15,000
18,073
14,000
15,870
777,000
M3,274
633,000
808,502
416,585
425,555
547,130
547,086
136,000
136,964
136,000
136,302
552,585
562,519
683,130
683,388
105,700
69,280
116,000
104,443
100,500
lllr406
105,300
104,867
432,100
991,612
645,900
856,392
33,400
71,206
63,900
171,693
21,500
174,794
20,050
55,418
693.200
1,418,298
951,150
1,292,813
26,765,598
28,701,844
25,407,246
25,447,263
Ji
29
EXHIBIT B-2
Page 2 of 3
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF REVENUES, III- gDITURES AND aW=S IN FUND BALANCE -
BUDG'ET AND ACTUAL - Continued
GENERAL FUND
for the years ended September 30,
EXPENDITURES:
Administrative services division:
Mayor and Board of Alderman
City Manager
Legal
Personnel
City Clerk
Martin Luther Ring Center
Farmer's Market
Library
Data Processing
Nondepartmental
Municipal Court
Risk Management
Building Maintenance
Central Garage
Police division:
Police
Fire division:
Fire suppression
Fire prevention
Parks and recreation division:
Recreation
Park maintenance
Golf
Cemetary
Accounting/Finance division:
Accounting/Finance
Tax
Purchasing
Planning division:
Planning
1984 1983
Budget Actual Budget Actual
40,043
27,766
511,010
50,490
329,953
322,330
275,2ll
256,128
173,571
172,409
205,897
175,467
153,606
149,322
172,610
172,400
59,131
55,610
61,527
60,326
150,377
146,897
69,140
63,408
15,671
15,390
12,672
11,449
302,827
287,254
328,950
302,343
1,152,804
1,147,838
lr084r326
1,015,177
2,189,786
2,089,366
1,730,615
1,223,383
276,243
257,668
288,434
268,853
98,298
93,679
181,358
180,161
356,882
337,641
368,045
336,914
2,348,754
2,177,336
943,010
884,940
7,647,946
7,280,506
5,772,805
5,001,439
6,424,383
6,169,438
5,846,313
5,685,793
4,340,230
4,229,963
3,824,808
3,727,996
92,413
91,852
169,824
155,770
4,432,643
4,321,815
3,994,632
3,883,766
341,618
319,706
347,358
331,777
1,997,065
1,877,402
1,985,846
1,875,188
346,886
295,627
338,364
241,934
181,711
168,851
154,040
135,336
2,867,280
2,661,586
2,825,608
2,584,235
374,845 276,675 398,925
142,194 129,940 127,203
87,353 74,024 86,050
604,392 480.639 612,178
1,036,764 965,744 772,863
358,113
124,940
80,883
563,936
770,007
11
30
1
J
EXHIBIT B&-2
Page 3 of 3
CITY OF WICHITA FALLS, TEXAS
STAT M OF REVENUES, EXPENDITURES AND aMMS IN FUND BALANCE -
BUDGET AND ACIML - Continued
GENERAL FUND
for the years ended September 30,
EXPENDITURES - Continued
Public works division:
Engineering
Inspection
Street
Sanitation
Sanitary landfill
Transfer station
Health division:
Administration
Nursing
Milk, meat and water
Laboratory
General environment
Food and vector control
Animal control
Traffic and transporation division:
Traffic engineering
Parking meters
Less charges to other departments
TOTAL EXPENDITURES
EXCESS OF REVENUES OVER
(UNDER) EXPENIDITURES
Other financing sources (uses):
J
Operating transfers in (Note 7)
Operating transfers out (Note 7)
Capital lease
Contributions from operating
grants (Note 4)
EXCESS OF REVENUES AND arHER
SOURCES OVER (UNDER)
EXPENDITURES AND arHER
ki
USES
Fund balance - beginning
1984
1983
Budget
-Actual
Budget
Actual
543,151
513,109
746,906
712,715
383,473
361,319
367,315
305,164
3,300,770
3,148,760
3,383,863
3,303,479
2,147,515
1,993,450
2,654,339
2,392,855
321F145
289,930
384,963
395,610
410,695
405,101
715,409
706,174
7,106,749
6,711,669
8,252,795
7,815,997
244,800
629,347
120,719
91,120
68,352
279,297
139,798
1.573,433
2,176,353
104,733
2,281,086
33,974,676
(2,278,714)
31,695,962
(4,930,364)
425,000
(186,736)
196,399
608,003
120,326
85,710
44,674
244,923
132,736
1,432,771
1,938,943
98,988
2,037,931
32,062,099
(1,606,933)
30,455,166
(1,753,322)
411,840
(136,149)
28,984
217,371
564,954
116,323
92,608
49,575
230r491
148.477
1.419,799
1,658,363
81,472
1,739,835
31,236,828
(1,074,737)
30,162,091
(4,754,845)
575,000
(168,000)
204,812
543,711
113,173
92,522
48,979
174,417
142,886
1,320,500
1,428,729
73,550
1,502,279
29,127,952
(1,016,666)
28.111.286
(2,664,023)
473,283
(118,908)
3,599,126 3,599,126 2,564,978 2,564,978
$(1.092.974) 2,150,479 $(1,782.867)
6,783,433
255,330
6,528,103
Fund balance - ending $ 8,933,912 $ 6,783,433
The accompanying notes are an integral part of these financial statements.
31
THIS PAGE IS INTERMONALLY LEFT BLANK
Special Revenue Funds are used to account for the proceeds of specific revenue
sources (other than special assessment, or for major capital projects) that are
legally restricted to expenditure for specific purposes. Federal programs included
in these funds are the Revenue,Sharing and Comunity Development Block Grant programs.
The operations of the Auditorium and Activities Center are also accounted for in the
Civic/Community Promotion Fund. Revenue derived from the City Hotel/Motel tax used
to promote growth in the City is accounted for in the Hotel/Motel Tax Fund.
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t
THIS PACE IS INPEATrIONALLY LEFT BLANK
I
U
DEBT SERVICE FUND
The Debt Service Fund, also known as interest and sinking fund, is established by
ordinance 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 is
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 Furl is also used
to provide for the payment of paying agent fees.
CITY OF WICHITA FALLS, TEXAS
BALANCE SHEET
DEBT SERVICE FUND
ASSETS
Restricted Assets:
Cash and short-term investments
Receivables:
Ad valorem taxes - delinquent (net of
allowance for uncollectible taxes
of $102,559 and $86,024)
Other City funds
Other
LIABILITIES AND FUND BALANCE
Liabilities - Payable from restricted assets:
Accounts payable - trade
other current liabilities
Deferred tax revenue
Fund Balance
Unreserved:
Designated for debt service
EXHIBIT D-1
September 30,
1984 1 82
$ 915,173 $ 676,699
493,563 414,260
2,532
9,240
$1,417,976 $1,093,491
$ 57
1,200
487,073
488,330
929,646
$1,417,976
$ 100
2,122
385,542
387,764
705,727
$1,093,491
The accompanying notes are an integral part of these financial statements.
34
1
EXHIBIT D-2
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALAN(M
DEBT SERVICE FUND
for the years ended September 30,
. REVENUES:
Taxes:
Ad valorem taxes
Miscellaneous revenue
TOTAL REVENUES
EXPENDITURES:
Principal retirement
Interest and paying agent fees
TOTAL EXPENDITURES
EXCESS OF REVENUES OVER
EXPENDITURES
Fund balance - beginning
Fund balance - ending
1984 1983
Budget Actual Actual
$3,385,442 $3,467,312 $3,247,009 $3,163,931
65,000 142,565 64,200 148,340
3,450,442 3,609,877 3,311,209 3,312,271
2,020,000 2,020,000 1,758,000 1,758,000
1,370,442 1,365,958 .1,489,009 1,481,751
_ 3,390,442 3,385,958 3,247,009 3,239,751
$ 60,000 223,919 $ 64,200 72,520
705,727 633,207
$ 929,646 $ 705,727
The accompanying notes are an integral part.of these financial statements.
35
I
a
THIS PAGE IS IN=IONALLY LEFT BLANK
M
CAPITAL PRWECr'S FUNDS
The Capital Projects Funds are used to account for -financial resources to be used
for the acquisition or construction of major capital facilities. Significant
projects currently under construction are Barnett Road Reconstruction Project,
Jaycee Park Roadway and Parking Improvements, Southwinds/'Brenda Hursh Drainage
Project, Plum Creek Drainage Project and Thompson Road Construction Project.
V
Htj
I
I
L
[l
CITY OF WICHITA FAILS, TEXAS
BALANCE SHEET
CAPITAL PRWECTS FUNDS
ASSETS
Cash and short-term investments
Receivables:
Other City funds
Other
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Payable to other City funds
Other
Fund Balance:
Reserved for encumbrances
Unreserved - designated
EXHIBIT E-1
September 30,
1984 1983
$5,783,643 $8,825,137
204,501
14,764 10,598
$5,798,407 $9,040,236
$ 382,025 $ 727,752
1,8ll
76,303 109,769
458,328 839,332
943,422 2,031,529
4,396,657 6,169,375
5,340,079 8,200,904
$5,798,407 $9,040,236
The accompanying notes are an integral part of these financial statements.
36
IMM
EXHIBIT E-2
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
CAPITAL PROJECTS FUNDS
for the years ended September 30,
1984
1983
REVENUES:
Miscellaneous:
Interest
$ 671,833
$ 1,040,913
Other
33,111
TOTAL REVENUES
671,833
1,074,024
EXPENDITURES:
Fiscal agent
29,322
Drainage improvements
801,114
130F019
Park improvements
463,190
23,595
Solid waste transfer station
695,713
Hamilton Park tennis improvement
829
8,762
Weeks Park tennis and golf improvements
131,141
88,590
Central services complex
1,793,359
1,5530,217
Sanitary landfill
80,904
49,614
Police station remodeling
10,849
Street improvements
144,560
924,030
Traffic control equipment
109,693
Fire station
59,757
260rl93
Library remodeling
129,804
14,345
TOTAL EXPENDITURES
3,532,658
3,888,942
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES (2,860,825) (2,814,918)
Fund balance - beginning 8,200,904 11,015,822
Fund balance - ending $5,340,079 $ 8,200,904
The accompanying notes are an integral part of these financial statements.
37
THIS PACE IS INrMIONAMY LEFT BLANK
.......... ,........... .... -
The Special Assessment Fund is used to account for the financing of public
improvements deemed to benefit the properties against which special assessments
are levied. Street and sidewalk paving expenditures and associated special
assessments are accounted for in this fund.
0
j
I I
r
H
i
CITY OF WICHITA FALLS, TEXAS
BALANCE SHEET
SPECIAL ASSESSMENT FUND
ASSETS
Cash and short-term investments
Receivables:
Paving assessments
Other receivables
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Other current liabilities
Deferred Revenue
Fund Balance:
Reserved for encumbrances
Unreserved - designated
EXHIBIT F-1
September
30,
1984
1983
$137,882
$140,420
656,093
657,912
42
$794,017
$798,332
$ 23
471
$ 3,990
494
3,990
656,093
657,912
656,587
661,902
236,985
137,430
(100,555)
137.430
136.430
$794.017 $798,332
The accompanying notes are an integral part of these financial statements.
IR
�.Nltffu urn»41Wf141fS:WN4fufd�Nvu9uweurw �.�.m� 9,,.»4,,,.,..,,9w�mmrovnrYWUWiNAWf�'�aH�YH�INHiJilnNHiJiM�`;�iM`ti'fifiY�YMYiMWh irfliWYFNYfi1P9 rlyi3iPfi9JSiN+.wr5f5 �5P9flYrflfmtm+n��
lViD1irilw._
EXHIBIT F-2
CITY OF WICHITA FALLS, TEXAS
STATEmENP OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCE
SPECIAL ASSESSMENT FUND
for the years ended September 30,
REVENUES:
Special assessments:
Streets
Miscellaneous revenue:
Interest
TOTAL REVENUES
EXETMITURES:
Street paving
TOTAL EXPENDITURES
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
Rind balance - beginning
Fund balance - ending
1984 1983
$216,304 $107,106
23,363 14,425
239,667 121,531
238,667
238,667
10,000 121,531
136,430 14,899
$137,430 36 430
The accompanying notes are an integral part of these financial statements.
39
THIS PACE IS INTENTIONALLY LEFT BLANK
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 costs of providing the service to the
general public on a continuing basis be recovered primarily through user
charges. The operations of the Airport, the Transit System, and the Water
and Sewer System are recorded in these funds.
EXHIBIT G-1
Page 1 of 2
CITY, OF WICHITA FALLS, TEXAS
COMBINING BALANCE SHEETS
ENTERPRISE FUNDS
September 30, 1984
Water
Totals
and
September 30,
Airport
Transit
Sewer
1984
1983,
ASSETS
Current Asses:
Cash and short term
investments
$ 151,669
$ 1,725,161
$ 1,876,830
$ 17IF410
Receivables:
Trade
20,288
1,681,940
1,702F228
1,749,756
Other City funds
$ 120
13,999
14,119
1,929
Governmental agencies
161,364
21,274
182,638
49,174
Other
98
5,923
6,021
47,271
Inventory
6,933
451,309
458,242
387.916
172,055
168,417
3,899,606
4,240,078
2,407,456
Restricted Assets:
Cash and short -terns
investments
54,604
3,680,543
3,735,147
3,434,579
Receivables from government
agencies
204,501
Other
150,802
150,802
152,809
54,604
3,831,345
3,885,949
3,791,889
Plant and Equipment:
Land and betterments
1,468,175
39,814
18,938,110
20F446FO99
20,752,834
Buildings, systems and
improvements
1,451,662
626,868
45,746,029
47,824,559
45,726,792
Machinery and equipment
25,633
27,325
2,076,634
2,129,592
1,721,569
Furniture and fixtures
24,535
5,805
45,639
75,979
76,028
Motor vehicles
416,025
837,927
1,253,952
1,217,744
Construction in progress
234,283
234,283
679,044
2,970,005
1,115,837
67,878,622
71,964,464
70,174,011
Less accumulated depreciation (645,536)
(303,071)(24,435,868)(25,384,475)(24,012,391)
2,324,469
812,766
43,442,754
46,579,989
46,161,620
Other Assets:
Deferred charges
13,860
130,860
27,252
Other
187,500
187,500
337,500
201,360
201,360
364,752
$2,551,128 $ 981,183 $51,375,065 $54,907,376 $52,725,717
The accompanying notes are an integral part of these financial statements.
40
19
EXHIBIT G-1
Page 2 of 2
Water
Totals
and
September 30,
import
Transit
Sewer 1984
1983
LIABILITIES AND FUND EQUITY
Current Liabilities - Payable
From Current Assets:
Bank overdraft
$131,817
$ 131,817
Accounts payable - trade
$ 8,729
31,153
$ 261,462
301,344
$ 337,647
Accrued payroll
1,622
17,419
171,952
190,993
192,616
Payable to other City funds
239,285
'
Other current liabilities
44,479
44,479
49,136
10,351
180,389
477,893
668,633
818,684
Current Liabilities - Payable
From Restricted Assets:
Contracts and trade
26,141
Revenue bonds - current
maturities
20,000
900,000
920,000
930,000
Accrued interest - revenue
bonds
1,242
75,733
76,975
86,051
Matured bonds and interest
payable
3,354
3,354
36,165
Other City funds
206,582
Deferred revenue
162,500
162,500
162,500
21,242
1,141,587
1,162,829
1,447,439
Long-term Debt:
Payable to U. S. Government
1,153,697
1,153,697
1,167,685
Revenue bonds - less
current maturities
40,000
6,420,000
6,460,000
7,380,000
40,000
7,573,697
7,613,697
8,547,685
Longterm Liabilities:
Customer deposits - payable
from restricted assets
654,042
654,042
506,406
Deferred revenue
187,500
187,500
337,500
841,542
841,542
843,906
P
71,593
180,389
10,034,719
10,286,701
11,657,714
Fund Equity:
'
Contributions in aid of
construction and other
2,277,385
873,790
14,715,688
17,866,863
16,907,064
Retained earnings:
Reserved for revenue
bond debt service
14,389
506,309
520,698
157,529
Reserved for bond
contingency
39,000
845,100
884,100
884,100
Unreserved
148,761
(72,996)
25,273,249
25,349,014
23,119,310
202,150
(72,996)
26,624,658
26,753,812
24,160,939
'
2,479,535
800,794
41,340,346
44,620,675
41,068,003
$2,551,128 $981,183 $51,375,065 $54,907,376 $52,725,717
41
CITY OF WICBITA FALLS, TEXAS
COMBINING SPATEMENT OF REVENUES, EXPENSES AND
(RANGES IN RETAINED EARNINGS
for the years ended September 30,
Water
Totals
and
September 30,
A_iogrt�
Transit
Sewer 1984 1983
Operating revenues:
Charges for services
$ 38,958
$156,544
$10,416,7ll
$10,612,213
$ 8,837,965 '
Rents, concessions, and
other
153,281
708
207,157
361,146
346,576
192,239
157,252
10,623,868
10,973.359
9,184,541
operating expenses:
'
Personnel services
42,750
261,601
2,587,275
2,891,626
2,737,638
Supplies and materials
970
57,601
631,957
690r528
768,186
Maintenance and repairs
22,651
73,889
910,146
lr006r686
lr308r378 ,
Utilities and other
services
66,218
27,609
1,583,531
1,677,358
1,452,765
Insurance and contract
support
16,903
9,730
315,436
342.069
'
340.726
149,492
430,430
6,028,345
6,608,267
6,607,693
Operating income (loss)
before depreciation
'
and amortization
42,747
(273,178)
4,595,523
4,365,092
2,576,848
Depreciation and amortiza-
tion
10( 2,606)
(32,214)
(1,410,835)
(1.545.655)
(1,557.087) '
Operating income (loss)
(59,859)
305 3 2)
3,184,688
2,819,437
1,019,761
Non -operating revenues
(expenses):
'
Interest income
17,140
8
411,433
428,581
414,028
Gain (loss) on sale of assets
(4,442)
(450)
(124,183)
(129,075)
8,901
Interest expense
(3,462)
(415,752)
(419,214)
(512,376)
Operating grants
137,020
137,020
217,316
9.236
136,578
(128,502)
17,312
127,869
Income (loss) before other
financing sources and (uses):
(50,623)
(168,814)
3,056,186
2,836,749
1.147.630
Operating transfer in (Note I)
136,149
136FI49
118,908
Operating transfer out (Note 7)
(411,840)
(411,840)
(473,283)
Contributions from operating
grants (Note 4)
31,815
31,815
367,867
136,149
(380,025)
(243,876)
13,492
Net income (loss)
(50r623)
(32,665)
2,676,161
2,592,873
1,161,122
Retained earnings - beginning
252,773
0 3 1)
23,948,497
24,160,939
22.999.817 '
Retained earnings - ending
$202,150
$(72.996)
$26,624,658
$26,753,812
$24,160,939
The accompanying notes are an integral part of these financial statements.
42
1
EXHIBIT G-3
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENT OF CHANGES
IN FINANCIAL POSITION
ENTERPRISE FUNDS
for the years ended September 30,
Totals
Water And
September 30,
Airport Transit
Sewer
1984
1983
Source of Funds:
Net income (loss)
$(50,623) $ (32,665)
$2,676,161
$2,592,873
$ 1,161,122
Item not requiring (providing)
working capital:
Depr. & amortization
102,606 32,214
1,410,835
1,545,655
1,557,087
Loss on sale of assets
4,442 450
124,183
129,075
Other
(18,759)
56,425 (1)
4,211,179
4,267,603
2,699,450
1
Contrib. in aid of constr.
393,502
566,298
959,800
1p207,982
Proceeds from sale of assets
3,258
75,370
78,628
Fixed assets retired
1,414
Customer deposits, net
147,636
147.636
52,136
59,683 393,501
5,000,483
5,453,667
3,960,982
9
Application of Funds:
Deferred charges
Purchase of fixed assets
Retirement of revenue bonds
Payment of U. S Govt. Oblg.
Net increase (decrease)
in working capital
Summary of Net Changes in Working
Capital:
Increase (decrease) in current
assets:
Cash and investments
Trade receivables
Due from other funds
Receivables, other
goverment agencies
Inventory
Prepaid expense & other
Increase (decrease) in
current liabilities:
Accounts payable trade
Due to other funds
Contracts payable
Other
Notes and bonds payable
Deferred revenue
Net increase (decrease)
in working capital
395,133
20,000
20,000 395,133
9,842
1,763,204 2,158,337 3,487,575
900,000 920,000 930,000
13,988 13,988 13,548
2,677,192 3,092,325 4,440,965
$ 39,683 $ 1 63 ) $2,323,291 $2,361,342 $ (479,983)
$ 26,794 $(136,582) $1,983,957
3,980 (51,508)
(38) 12,108
(92,310) 21,274
(8,383) 78,709
_ 28 77 ) (42,580)
30,872 (238,089) 2,001,960
4,227
(81) (247,806)
(2,957)
3,444
(10,000)
7,905
8 811)
(236,457)
(50,196)
(198,099)
(26,141)
(46,895)
$1,874,169 $(1,216,773)
(47,528) 228,216
12,070 (27,754)
(71, 036)
70,326
(43,258)
1,794,743
(45,969)
(445,986)
(26,141)
(46,408)
(2,095)
(161,074)
45,421
(464,381)
(1,596,345)
62,655
(567,230)
(34, 462)
(100,615)
(476,710)
(321,331) ( 566,599) (1,116,362)
$ 39,683 $ (1,632) $2,323,291 $2.361.342 $ (479,983)
The accompanying notes are an integral part of these financial statements.
y
43
THIS PAGE IS INTENMONALLY LEFT BLANK
E
M
n
TRUST & AGENCY FUNDS
Employee Benefit Trust Fund - to account for and administer group health
ate' insurance, which is self -insured by the City, and life insurance for employees
and dependents.
Social Security Fund - to account for the collection and payment of social
security (FICA) taxes.
Payroll Fund - 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 - to account for the collection and payment of ad valorem
taxes to the City's General and Debt Service Funds, the Wichita Falls Independent
School District, and Midwestern State University.
Accounts Payable Fund - 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.
Section 8 Housing Grants - to account for the resources provided and expended
in conjunction with the Section 8 Housing Grant Program. These resources were
received by the City on behalf of numerous secondary recipients.
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11
CITY OF WICHITA FALLS, TEXAS
EXPENDABLE TRUST FUND - EMPLOYEE BENEFIT TRUST
STATEMENT OF REVENUE, EXPENDITURES AND CHANCES
IN FUND BALANCE
for the year ended September 30, 1984
REVENUES:
EXHIBIT H-2
Contributions $1,208,669
Interest 13,271
TOTAL REVENUES 1,221,940
EXPENDITURES:
Claims and administrative fees 1,044,763
Supplies and materials 1,821
Utilities and other services 42.205
TOTAL EXPENDITURES 1,088,789
EXCESS OF REVENUES OVER (UNDER) EXPENDITURES 133,151
Fund Balance - beginning
Fund Balance - ending $ 133,151
The accompanying notes are an integral part of these financial statements.
45
EXHIBIT H-3
Page 1 of 3
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENTS OF CHANGES IN ASSETS AMID LIABILITIES
AGENCY FUNDS
for the year ended September 30, 1984
0
I
Balance
Balance
September 30,
September 30,
1983
Additions
Deductions
1984
SOCIAL SECURITY FUND
ASSETS
Cash and short-term investments
$ 161F982
$ 2,299,385
$ 2,286,172
$ 175,195
Receivables:
Other City funds
3,982
951,074
955,056
$ 165,964
$ 3,250,459
$ 3,241,228
$ 175,195
LIABILITIES
Payable to other City funds
$ 615
$ 8,000
$ 8,615
Payable to government agencies
165,349
2,286,856
2,277,010
$ 175,195
$ 165.964
$ 2,294,856
$ 2,285,625
$ 175,195i�
PAYROLL FUND
ASSETS
Cash and short-term investments
$19,057,368
$19,056,117
$ 1,251
Receivables:
Other City funds
$ 1,081
15,381,544
15,382,625
uu
$ 1.081
$34,438,912
$34,438,742
$ 1,251
LIABILITIES
Payable to other City funds
$ 489
$ 1,926
$ 1,164
$ 10,251
Other current liabilities
592
592
$ 1,081
$ 1,926
$ 1.756
L251
TAX COLLECTION FUND
ASSETS
Cash and short-term investments
$ 34,001
$28,290,786
$28,309,002
$ 15,785
Receivables:
Taxes
1,841,215
718,454
360r003
2,199,666
Other City funds
839
1,265
1,434
670
Other
645
6,036
6,681
$1,876,700 $2M..016.541 $28,677,120 $2.216.121
LIABILITIES
Accounts payable trade
$ 5,305
$ 4,990,650
$ 4,984,317 $ 11,638
Payable to other City funds
9,599
15,392,000
15,401,599
Payable to government agencies
1,847,090
14,457,084
14,104,508 2,199,666
Other current liabilities
14,706
482,490
492,379 4,817
$ a 876x700 $35,322,224 $34,982,803 $2,216.121
46
EXHIBIT H-3
Page 2 of 3
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENTS OF CHANGES IN ASSETS AND LIABILITIES - Continued
AGENCY FUNDS
for the year ended September 30, 1984
ACCOUNTS PAYABLE FUND
ASSETS
Cash and short-term investments
Receivable:
Other City funds
LIABILITIES
Payable to other City funds
Other current liabilities
SECTION 08 HOUSING GRAM
ASSETS
Cash and short term investments
Receivables:
Other City funds
Other
Prepaid expense
LIABILITIES
Accounts payable trade
Accrued payroll
Payable to other City funds
Payable to government agencies
Deferred revenue
Balance
September 30,
1983 Additions
Balance
September 30,
Deductions 1984
$ 2,277 $77,852,314 $77,854,591
19,885,447
$ 2,277 $97,737.761
$ 2,277 $ 72,842
92,091
$ 2.277 $ 164,933
19,774,521 $ 110,926
$97,629,112 $ 110,926
$ 56,284 $ 18,835
92,091
$ 56,284 $ 110,926
$ 108,671 $ lr094r448 $ 1,108,689 $ 94,430
5,544
48
52,263
108,967
$ 160,934
$ 1,209,007
$ 390
$ 603r7O7
1,997
2,193
301
976,573
36,328
84,366
121,918
3,904,151
$ 160,934
$ 5.570,990
4,389
1,155
48
104,556
56,674
$ 1,217,634
$ 152,307
$ 603r293
$ 804
1,997
2,193
976,858
16
36,328
84,366
3,961,141
64,928
$ 5,579,617
$ 152,307
47
EXHIBIT H-3
Page 3 of 3
CITY OF WICHITA FALLS, TEXAS
COMBINING CHANCES IN ASSETS AND LIABILITIES - Continued
AGENCY FUNDS
for the year ended September 30, 1984
Balance Balance
September 30, September 30,
1983 Additions Deductions 1984
CDBG SECRETARY'S DISCRETIONARY GRANT
ASSETS
Cash and short-term investments $ 65,056 $ 1,730 $ 66,786
Receivables:
Other City funds 1,730 $ 1,730
$ 66,786 $ 1,730 $ 68,516 $ -0-
LIABILITIES
Payable to goverment agencies
TOTALS - ALL AGENCY FUNDS
ASSETS
Cash and short-term investments
Receivables:
Taxes
Other City funds
Other
Prepaid expense
LIABILITIES
Accounts payable trade
Accrued payroll
Payable to other City funds
Payable to goverment agencies
Other current liabilities
Deferred revenue
$ 66,786
$ 66,786 66,786 $ 66,824 $ -0-
$ 371,987 $128,596,031 $128,681,357 $ 286,661
1,841,215 718,454
7,632 36,224,874
645 6,084
52,263 108,967
$2,273,742 $165,654,410
360,003 2,199,666
36,119,755 112,751
6,681 48
104,556 56,674
$165.272.352 $2,655,800
$ 5,695 $ 5,594,357 $ 5,587,610 $ 12,442
1,997
2,193
1,997
2,193
13,281
16,451,341
16,444,520
20,102
2,115,553
16,828,306
16,484,632
2,459,227
15,298
574,581
492,971
96,908
121,918
3,904,151
3,961,141
64,928
$2,273,742
$ 43,354,929
$ 42,972,821
$2.655.800
The accompanying notes are an integral part of these financial statements.
M.
m
y
N
�l
I
EXHIBIT I-1 'r
CITY OF WICHITA FALLS, TEXAS
BONDED DEBT AND INTEREST MATURITIES - GENERAL IUNG-TEPM DEBT
September 30, 1984
General
Obligation
Bonds
Fiscal
Serial
Thtal
Year
Bond
Interest
Bonds And
Ending
Maturities
On Bonds
Interest
1985
$ 1,855,000
$ 1,242,288
$ 3,097,288
:
1986
1,557,000
1,124,012
2,681,012
1987
1,585,000
1,003,981
2,588,981
1988
1,370,000
894,428
2,264,428
1989
1,258,000
789,778
2,047,778
1990
975,000
692,462
1,667,462
1991
850,000
613,013
1,463,013
1992
725,000
541,025
1,266,025
1993
875,000
462,500
1,337,500
1994
875,000
373,500
1,248,500
1995
875,000
285,550
1,160,550
1996
875,000
198,750
1,073,750
1997
900,000
113,350
1,013,350
1998
200,000
50,000
250,000
1999
200,000
36,000
236,000
2000
200,000
24,000
224,000
2001
200,000
12,000
212,000
$15,375,000
$8,456,637
$23,831,637
The accompanying notes are an integral part of these financial statements.
49
EXHIBIT I-2
CITY OF WICHITA FALLS, TEXAS
REVENUE BANDS AND INTEREST MATURITIES - AIRPORT FUND
September 30; 1984
Fiscal
Serial
Total
Year
Bond
Interest
Bonds And
Ending
Maturities
On Bonds
Interest
1985
$20,000
$2,700
$22,700
1986
20,000
1,800
21,800
1987
20,000
900
20.900
$60.000
a,400
$65.400
The accompanying notes are an integral part of these financial statements.
IF
EXHIBIT I-3
CITY OF WICHITA FALLS, TEXAS
REVENUE BONDS AMID MEREST MATURITIES - WATER AND SEWER FUND
September 30, 1984
Fiscal
Serial
Total
Year
Bond
Interest
Bonds And
Ending
Maturities
On Bonds
Interest
1985
$ 900,000
$ 447,556
$ 1,347,556
1986
900,000
400,658
lF300,658
1987
900,000
353,761
1,253,761
1988
900,000
308r553
1,208,553
1989
570,000
270r6O8
840r6O8
1990
600,000
233,713
833,713
1991
520,000
199,786
719,786
1992
370,000
166,762
536,762
1993
370,000
136,802
506,802
1994
280,000
106,352
386,352
1995
280,000
79,887
359,887
1996
285,000
53,590
338,590
1997
185,000
31,871
216,871
1998
110,000
15,327
125,327
1999
50,000
8,025
58,025
2000
50,000
4,563
54,563
2001
50.000
1.500
51.500
$7,320,000
$2.819.314
$10.139.314
The accompanying notes are an integral part of these financial statements.
51
IN
Airport Revenue Bonds:
EXHIBIT I-4
CITY OF WICHITA FAIZ.S, TEXAS
DEBT SERVICE COVERAGE - REVENUE BONDS
September 30, 1984
Net income (loss) (Exhibit G-2)
$ (50,623)
Add:
Revenue bond interest and paying agent fees
$ 30,462
Depreciation
102,606
106,068
Net earnings for determining debt service coverage
$ 55.445
Total principal and interest requirements
$ 65,400
Number of years remaining to pay bonds
+ 3
Average annual principal and interest requirement
$ 21.800
Average annual debt service coverage
2.54
Maximum principal and interest requirement
$ 22.700
Maximum debt service coverage
2.44
Water and Seger Revenue Bonds:
Net income (Exhibit G-2)
$ 2,676,161
Add (Deduct):
Revenue bond interest expense and paying agent fees
$ 377,657
Depreciation and amortization
1,410,835
Operating transfers out
411,840
Contributions from operating grants
(31,815)
2,168,517
Net earnings for determing debt service coverage
$ 4,844,678
Total principal and interest requirements
$10,139,314
Number of years remaining to pay bonds
+ 17
Average annual principal and interest requirement
$ •596,430
Average annual debt service coverage
8.12
Maximum principal and interest requirement
$ 1.347,55E
Maximum debt service coverage
3.60
The accompanying notes are an integral part of these financial statements.
52
EXHIBIT I-5
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
ADDITIONS AND DELETIONS BY DEPARTMENT
for the year ended September 30, 1984
Beginning
Transfers
Ending
Balance
Additions
Deletions
In (out)
Balance
Mayor and City Council
$ 5,218
$ 5,218
General Administration
2,048,798
$ 213,268
$ 25,726
$ (5,157)
2,231,183
Legal and City Clerk
13,464
992
140,456
Personnel
90,821
2,380
698
1,315
120,818
Data Processing
8040,839
4,272
120,204
796,907
Library
802,480
131,459
933,939
Health
1,083,249
460,470
2,175
1,127,544
Finance
260,750
1,200
(979)
260,971
Tax
21,462
979
220,441
Municipal Court
575,450
440
575,010
Risk Management
396,367
20,792
35
399,194
Police
3,032,948
468,984
617
3,501,315
Fire
2,569,665
251,822
15,794
70,953
20,813,646
Engineering
2540,515
10,667
175
(20,631)
262,376
Inspection
53,649
515
738
540,902
Property Agent
170,746
17,746
Street Maintenance
1,942,900
630,803
19,300
34,881
2,022,284
Sanitation
6,077,364
343,288
119,033
(170,476)
6,284,143
Parks
12,947,354
151,139
330,105
(14,603)
130,050,785
Golf
2780,540
110,571
(50,522)
284,589
Cenetary
390,787
29,605
69,392
Planning
400,.328
20,878
(4,199)
390,007
Traffic Engineering
368,619
32,807
401,426
Parking Meters
16,465
16,465
Purchasing
6,984
698
6,286
Central Garage
2,147,988
2,510,921
7,999
5,522
4,656,432
Building Maintenance
28,638
3,391
310,173
Midtown 2000
249,441
254,525
(856)
503,966
Auditorium Activity Center
6,5870,029
6,587,029
Community Development Block
84,964
84.964
$42,532,822 $4,538,749 $ 237 064 $46,833,607
The accompanying notes are an integral part of these financial statements.
53
1
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ELZ
54
CITY OF WICHITA FALLS, TEXAS
AIRPORT FUND
PLANT, EQUIPMENT, AND DEPRECIATION
for the year ended September 30, 1984
Plant and Equirment:
Land and Betterments
Buildings and Improvements
Machinery and Equipment
Furniture and Fixtures
Accumulated Depreciation:
Land and Betterments
Buildings and Improvements
Machinery and Equipment
Furniture and Fixtures
Net Plant and Equipment
Balance
10 1 83
$1,471,966
1,453,724
42,310
29.419
2,997,419
227,290
285,684
28,089
21,580
562,643
Additions
EXHIBIT I-7 '
$ 3,791
2, 062
16,677
4,884
414
$ 59,044
1,441
40,668
2,062
1,949
11,633
945
4,577
102,606
19,713
$2,434,776 $(102.606) $ 7.701
,
Balance
0 84
$1,468,175
1,451,662
gm
25,633
24,535
2,970,005
284,893
324,290
k�
18,405
_17,94$
645,536
$2,324,469
The accompanying notes are an integral part of these financial statements.
55
EXHIBIT I-8
CITY OF WIC HITA FALLS, TEXAS
TRANSIT SYSTEM
PLANT, EQUIPMENT! AMID DEPRECIATION
for the year ended September 30, 1984
Balance
Transfers Balance
Plant and Eguirment:
10 1 83
Additions
Deletions In (Out) 9 30 84
Land and Betterments
$ 39,814
$ 39,814
Buildings and Improvements
5,075
$386,484
$235,309 626,868
Machinery and Equipment
24,265
4,614
$1,554 27,325
Furniture and Fixtures
10,972
4,035
202 5,805
Motor Vehicles
416,025
416,025
Construction in Progress
235.309
23 30 )
722,460
395,133
1,756 1,115,837
Accumulated Der)reciatio
Buildings and Improvements
615
4,124
4,739
Machinery and Equipment
14,203
11,690
1,154
14,739
Furniture and Fixtures
918
295
152
1,061
Motor Vehicles
256,427
26,105
282,532
272,163
32,214
1,306
303,071
Net Plant and Equipment $450,297 $362,919 $ 450 $ 812,766
The accompanying notes are an integral part of these financial statements.
56
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EXHIBIT J-1 I
CITY OF WICHITA FALLS, TEXAS
PROPERTY TAX LEVIES AND OOLLECTIONS - I,AST TEN FISCAL YEARS
(Unaudited)
Total
Collections
Percent
Delinquent
As Percent
Fiscal
Total
Current Tax
Of Levy
Tax
Total Tax
Of Current
Year
Tax Lew
Collections
Collected
Collections
Collections
Lyy
1974-75
$ 5,646,229
$ 5,500,910
97.43%
$133,094
$ 5,634,004
99.78%
1975-76
5,771,676
5,621,613
97.40%
119,564
5,741,177
99.47%
1976-77
5,965,634
5,839,672
97.89%
157,354
5,997,026
100.53%
1977-78
6,216,950
6F085r5l6
97.89%
126,174
6,211,690
99.92%
1978-79
7,050,216
6,896,264
97.82%
118,793
7,015,057
99.50%
1979-80
7,582,393
7,383,608
97.38%
129,220
7,512,828
99.08%
1980-81
9,315,184
9,031,661
96.96%
152,342
9,184,003
98.59%
1981-82
10,896,934
10,508,375
96.43%
181,577
10,689,952
98.10%
1982-83
12,490,900
llr900r747
95.28%
249,522
12,150,269
97.28%
1983-84
14,050,573
13,524,855
96.26%
301,973
13,826,828
98.41%
1
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59
Fiscal
Period
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
1983-84
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
1983-84
EXHIBIT J-3
CITY OF WICHITA FALLS, TEXAS
TAX RATES AND TAX LEVIES - LAST TEN FISCAL YEARS
(Unaudited).
WFISD
CVISD
y
School (1)
School (2)
County
State
Total
Tax Rates
Per 100 Valuation
$1.30
$1.50
$1.67
$.87
$.12
5.46
'
1.22
1.50
1.67
.87
.12
5.38
1.05
1.40
1.67
.87
.12
5.11
1.01
1.17
1.67
.87
.10
4.82
1.04
1.17
1.67
.87
.10
4.85
'
1.00
1.06
.89
.87
3.82
.75
.75
.74
.73
1.07
1.07
.87
.31
3.43
2.86
'
.69
.69
.69
.22
2.29
.75
.74
.67
.25
2.41
Tax Levies
$ 5,646,229
$ 6,474,269
$175,000
$2,365,309
$257,770
$14,918,577
5,771,676
7,077,588
258,433
2,840,691
283,566
16,231,954
'
5,965,634
7,931,323
263,474
3,066,776
289,202
I7,516,409
6,216,950
7,397,146
270r537
3,717,862
363,401
17,965,896
7,050,216
8,193,611
327,917
4,169,834
452,303
20F193,881
7,582,393
7,862,586
279,632
4,622,135
20r346r746
u
9,315,184
9,234,676
402r354
4,551,667
23,503,881
10,896,934
10,427,882
402r523
4,551,700
26,279,039
12,490,900
12,233,330
488,457
6,858,581
32,071,268
14,050,573
13,541,058
487,548
7,254,768
35,333,947
(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
11
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Fiscal
Year
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
1983-84
EXHIBIT J-5
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF REVENUE BOND CVVERAGE
AIRPORT REVENUE BONDS - LAST TEN FISCAL YEARS
(Unaudited)
Net Income
Available For
Debt Service
$ 48,256
64,783
45,319
58,227
76,568
]1 0,896
70,078
60,808
25,878
55,445
Average
Annual
Principal &
Interest
$32, 694
32,236
31,785
31,342
30,909
29,779
28,475
26,895
24,831
21,800
Average
Annual
Times
Covered
1.48
2.01
1.43
1.86
2.48
3.72
2.46
2.26
1.04
2.54
Maximum
Principal &
Interest
$37, 725
36,750
35,775
34,800
38,825
37,600
36,375
35,150
33,925
22,700
Maximum
Times
1.28
1.76
1.27
1.67
1.97
2.95
1.93
1.73
.76
2.44
62
5
EXHIBIT J-6
'
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF REVENUE BOND COVERAGE
WATER AND
SEWER REVENUE BONDS LAST
TEN FISCAL YEARS
(Unaudited)
Average
Average
Net Inane
Annual
Annual
Maximum
Maximum
Fiscal
Available for
Principal
& Times
Principal &
Times
Year
Debt Service
Interest
Covered
Interest
Covered
1974-75
$1,817,112
$708,302
2.57
$1,025,265
1.77
1975-76
1,931,619
689,657
2.80
997,815
1.94
1976-77
1,840,667
670,397
2.75
994,834
1.85
1977-78
1,937,076
526,278
3.68
1,089,951
1.78
1978-79
1,764,656
553,977
3.19
1,059,691
1.67
'
1979-80
2,904,365
536,677
5.41
1,129,840
2.57
1980-81
2,843,629
507,350
5.60
1,129,840
2.52
1981-82
2,773,414
682,840
4.06
1,440,487
1.93
1982-83
3,242,485
640,749
5.06
1,394,164
2.32
1983-84
4,844,678
596,430
8.12
1,347,556
3.60
1
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65
Fiscal
Property
Bank
Year
Value
Construction
De sits
1975
$ 620F449,044
$ 18,536,036
$441,803,442
1976
675,820,998
31,393,726
497,964,572
1977
813,841,134
42,468,548
516,606,623
1978
881,058,223
45,604,127
551,425,836
1979
968,426,400
131,560,312
724,403,250
1980
ly083Fl86,106
45,236,067
811,428,863
1981
1,241,998,642
82,811,494
888,732,895
1982
1,452,897,321
56,424,318
961,142,020
1983
1,802,438,684
73,235,522
972,585,375
1984
1,882,445,516
45,959,328
1,011,202,125
L.
,.,Mwwwn .uuwuw�,i uuvnnlus' `aMM ��a �..,.
CITY OF WICHITA FALLS, TEXAS
PRINCIPAL TAXPAYERS
September 30, 1984
(Unaudited)
EXHIBIT J-10
Percentage
January 1, 1983
of Total
Assessed
Assessed
Taxpayer
Type of Business
Valuation
Valuation
Southwestern Bell
Telephone Utility
$ 50,126,107
2.66%
Sikes Senter
Shopping Center
26,300,256
1.40%
Texas Electric
Electric Utility
25,213,493
1.34%
Wilson/Continental
Manufacturer
17,508,041
.93%
Wichita Clutch
Manufacturer
9,121,888
.49%
Lone Star Gas
Gas Utility
8,946,382
.48%
Dowell Division - Dow
Chemical
Manufacturing
8r543p70l
.45%
Safeway
Supermarket
8,377,517
.44%
White's Store
Retail Store
7,878,678
.42%
Sprague Electric
Manufacturer
7,190,941
jam%
$169,207,004
8.99%
67
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72
EXHIBIT J-13
CITY OF WICHITA FALLS, TEXAS
SPECIAL ASSESSKKU COLLECTIONS - LAST TEN FISCAL YEARS
(UNAUDITED)
Ratio Of
Fiscal
Assessments
Aseesments
Collections To
Year
Due
Collected
Amount Due
1975
$487,647
$272,755
55.99%
1976
511,082
275,934
53.99%
1977
520,522
187,822
36.08%
1978
521,762
172,142
32.99%
1979
585,315
146,011
24.95%
1980
578,872
109,360
18.90%
1981
718,281
87,983
12.25%
1982
625,599
323,627
51.73%
1983
657,912
107,106
16.28%
1984
656,093
216,304
32.97%
73
CITY OF WICHITA FALLS, TEXAS
COMPUTATION OF OVERLAPPING DEBT
September 30, 1984
(Unaudited)
Jurisdiction
City of Wichita Falls
Wichita Falls Independent
School District
Wichita County
City View Independent School
District
Burkburnett Independent School
District
EXHIBIT J-14
Percentage Ap- Amount Appli-
Gross Debt plicable to City cable to City
Outstanding of Wichita Falls of Wichita Falls
$21,825,354 100.00% $21,825,354
5,302,000 98.49% 5,221,940
6,369,687 77.23% 4,919,309
95,000 75.25% 71,488
464,880 1.16$ 5.393
$34,056,921 94.09% $32,043,484
74
Fiscal
Year
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
PrinciRal.
$1,666,000
1,491,000
1,499,000
1,500,000
1,501,000
1,306,000
1,309,000
2,801,000
1,758,000
2,020,000
EXHIBIT J-15
CITY OF WICBITA FALLS, TEXAS
RATIO OF ANNUAL DEBT SERVICE FOR GENERAL
BONDED DEBT TO TOTAL GENERAL EXPENDITURES -
LAST TEN FISCAL YEARS
(Unaudited)
Total Debt
Interest
Service
$728,898
$2,394,898
665,817
2,156,817
604,048
2,103,048
547,895
2,047,895
487,880
1,988,880
423,175
1,729,175
633,791
1,942,791
596,285
3,397,285
1,480,829
3,238,829
1,365,442
3,385,442
Total
General
Expenditures
$11,462,534
11,577,991
13,549,785
14,551,901
16,147,804
19,043,081
27,333,617
29,086,979
29,127,952
32,062,099
Ratio Of
Debt Service
To General
EM2enditures
20.89%
18.63%
15.52%
14.07%
12.32%
9. 08%
7.11%
11.68%
11.12%
10.56%
mm
iki
75
EXHIBIT J-16
CITY OF WICHITA FALLS, TEXAS
DEMOGRAPHIC STATISTICS - LAST TEN FISCAL YEARS
(Unaudited)
Per
School
Unemploy-
Fiscal
Capita
Education
Enrollment
ment Rate
Year
Fopulation(1)
Income(3)
Level (2)
(2)
(4)
1975
103,000
$5,937
12.4
16,133
4.5%
1976
103,700
6,657
12.4
15,915
4.2%
1977
106,800
7,798
12.4
15,435
3.7%
1978
109,000
8,255
12.5
15,086
3.5%
1979
111,000
9,047
12.6
14,561
3.2%
1980
94,201
9,800
12.6
14,386
4.0%
1981
94,201
9,289
13.1
14,378
4.1%
1982
96,500
7,108
13.1
14,256
6.4%
1983
97,125
7,598
13.2
14,184
7.1%
1984
1040,500
8,750
13.3
14,428
4.4%
Sources:
(1) City of Wichita Falls Planning Department
(2) Wichita Falls I.S.D. - Educational level is grade equivalent of
graduating senior.
(3) City Staff Calculations
(4) Texas Employment Commission
76
sISNWfuu�'�4-"'y;p�t r�i,E��tunwrkut _..'�wWlsW�dkMNx.ww.rvra,w�NM�Y'dWui nv�wiaueb'�fikei�`++N�Aa+w'�wµ'm�.,m�+�Js.�*:rrtr..t+�. dote,xun'in+hw�m���.s.�M>iwuwv�µ�N.dH6l�s�w�... �+rv. uMd�lk���'m
CITY OF WICHITA FALLS, TEXAS
COMPiTrATION OF LEGAL DEBT MARGIN
September 30., 1984
Tw Total assessed property value
Maximum tax levy $2.25/$100
Current tax levy .7464/$100
M
1
EXHIBIT J-17
$1,882,445,516
1.5036/$100
$ 28,304,451
77
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE
September 30, 1984
(Unaudited)
Insurance
Code
EXHIBIT J-18
Page 1 of 6
A Policy:
Building and Contents
Company:
Firemen's Fund
Policy No.:
XF3781055
Policy Period:
January 1, 1985 to October 1, 1987
Period:
Fire, extended coverages, vandalism and
malicious mischief
Coverages:
$29,4421561 Building and Contents
250,000 Extra Expense
1,040,000 Valuable Papers
Deductible:
$100,000 per occurrence
Coinsurance:
Agreed value - replacement cost
Premium:
................................Annually $16,080.00
B Risk:
Difference -in Condition
Company:
Wausau Insurance Companies
Policy No.:
1666-02-089422
Policy Period:
October 1, 1983 to October 1, 1986
Perils:
All risk, earthquake, flood and increased
construction.
Coverages:
$25,770F627
Deductible
$100,000 per occurrence
Coinsurance
WA
Premium:
................................Annually $ 2,939.72
C Policy:
Boiler and Machinery
Company:
Hartford Stearn Boiler
Policy No.:
HN-7330025-00
Policy Period:
October 1, 1983 to October 1, 1986
Perils:
Comprehensive Blanket
Coverage:
$5,000,000 per occurenee
Deductible:
$2,500
Coinsurance:
WA
Premium:
.................................Annually $11,720.00
D Risk:
General Liability and Fleet Liability
Company:
Republic Insurance Co.
Policy No.:
CDG 3072
Policy Period:
October 1, 1984 through October 1, 1985
Perils:
Premises Operations, Completed Operations,
Independent Contractors, Blanket Contractual,
Personal Injury, Premises Medical Payments,
w
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n
F�
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE
September 30, 1984
(Unaudited)
Insurance
Code
EXHIBIT J-18
Page 2 of 6
D Broad Form Property Damage, Host Liquor
Liability, Fire Legal Liability, Incidental
Malpractice, Sudden and Accidental Pollution
Emanating on Land, Explosion, Collapse, Under-
ground Damage.
Coverage: $1,000,000 plus 9,000,000 excess (See Codes
N and 0)
Deductible: $100,000 per occurrence, $500,000 annual
aggregate
Premium:...9.9..9..9....9..9..9..9...............$72,000.00
E Risk: Contractor's Equipment (Tool Floater)
Company: Marine Office of America Corporation
Policy No.: IMH627141
Policy Period: October 1, 1984 to October 1, 1985
Perils: All risk
Coverage: $3,000 per person, $31,000 per occurrence
Deductible: $100 per claim
Premium: .........................................$ 775.00
F Risk: Electronic Data Processing Equipment
Company: Wausau Insurance Companies
Policy No.: 1666-02-090536
Policy Period: October 1, 1983 to October 1, 1986
Perils: All risk
Coverage: $432,700
Deductible: $500
Coinsurance: N/A
Premium: ......................................... $ 649.00
G Risk: Excess Worker's Compensation and Employee's
Liability
Company: Mission Insurance Company
Policy No.: RNS31276-A
Policy Period: October 1, 1984 to October 1, 1987
Perils: Workers Compensation - statutory; Employers'
Liability $5,000,000 plus $9,000,000 excess
(See Code N and 0)
Deductible $200,000
Premium: ..........................................$ 6,600.00
79
I
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE
September 30, 1984
(Unaudited)
Insurance
Code
EXHIBIT J-18
Page 3 of 6
H Risk:
Public Professional Liability (E and 0)
Company:
Western Policy Insurance Company
Policy rb.:
PE-4908
Policy Period:
October 1, 1983 to October 1, 1986
Perils:
Public Official errors and omissions. Excludes Law
enforcement.
Coverage:
$1,000,000 plus $9,000,000 excess (see Codes
N and 0).
Premium:
..........................................$ 9,502.28
I Risk:
Police Professional Liability
Company:
Scottsdale Insurance Co.
Policy No.:
PPL000012
Policy Period:
October 1, 1984 through October 1, 1985
Perils:
False arrest, false imprisonment or unlawful
detention, bodily injury, malicious prosecution,
defamation of character, libel, slander, violation
of right of privacy and first aid.
Coverage:
$1,000,000 CSL plus $9,000,000 excess (see Code N and 0)
Deductible:
$21,500
Premium:
..........................................$34,199.88
J Risk:
Valuable Papers (See Code A)
R Risk:
Monies and Securities
Company:
Fidelity and Deposit Companies
Policy No.:
936-70-53T
Policy Period:
January 15, 1983 to Cancellation
Perils:
Loss inside and outside of premises
Coverage:
Loss inside premises: $10,000; Loss outside
premises: $3,000
Deductible:
$10,000
Premium:
..........................................$ 288.00
L Risk: Airport Liability
Company: U. S. Fire Insurance Company
Policy No.: CLA-41-20594
Policy Period: October 1, 1984 to October 1, 1985
Perils: Owner's Landlords' and Tenants' Liability
(Premises)
11
0
J
CITY OF WICHITA FADS, TEXAS
SCHEDULE OF INSURANCE COVERAGE
September 30, 1984
Insurance
Code
EXHIBIT J-18
Page 4 of 6
L Coverage:
$1,000,000 CSL plus $9,000,000 excess (See
Codes N and 0).
Deductible:
None
Premium:
..........................................$ 6,750.00
M Risk:
Professional Liability for Medical Clinics
Company:
St. Paul Insurance Company
Policy No.:
591TD3032
Policy Period:
October 1, 1984 to October 1, 1985
Perils:
Injury to any person arising out of the performance
of professional service rendered or which should have
been rendered (errors and omissions).
Coverage:
$1,000,000 CSL plus $9,000,000 excess (See Codes N
and 0) .
Deductible:
None
Premium:
..........................................$12,574.00
N Risk:
Physician Medical Malpractice
Company:
St. Paul Insurance Co.
Policy No.:
591TD3072-1
Policy Period:
October 1, 1984 to October 1, 1985
Perils:
Physicians medical malpractice
Coverage:
$1,000,000 CSL plus $4,000,000 excess (See Code 0)
Deductible:
None
Premium:
..........................................$ 221.00
0 Risk:
Umbrella Liability
Integrity Insurance Company
Polfar:
icy No.:
1SC904524
Policy Period:
October 1, 1984 to October 1, 1985
Excess of:
Public Official Liability, Policy Professional
Liability, Airport Premises Liability, Professional
Liability for Medical Clinics, Fleet Liability,
General Liability and Employers' Liability.
Coverage:
$5,000,000
Premium:
..........................................$22,500.00
P Risk:
Umbrella Liability
Company:
Twin City Insurance Company
Policy No.:
TXS 103344
Policy Period:
October 1, 1984 to October 1, 1985
Excess of:
$5,000,000 provided in N above. Provides excess
coverage for the same risks listed in N above.
Coverage
$4,000,000
Premium:
...........:..............................$10,000.00
Al
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE
September 30, 1984
(Unaudited)
Insurance
Code
EXHIBIT J-18
Page 5 of 6
Q Risk: Public Employee Blanket Bonds
Company: Fidelity and Deposit Company of Maryland
Policy No.: 2897924-C
Policy Period: January 15, 1983 to January 15, 1986
Perils: Honesty blanket position
Coverage: $100,000
Deductible: $101,000
Coinsurance: N/A
Premium:$2,262....................................$ 754.00
R Risk: Public Official Bona
Company: Fidelity and Deposit Company of Maryland
Bond No.: 968-84-96
Bond Period: August 26, 1984 to August 26, 1985
Insured: City Manager
Coverage: $25,000
Premium: ..........................................$ 88.00
Bond No.: 961-99-35
Bond Period: August 18, 1984 to August 18, 1985
Insured: Purchasing Agent
Coverage: $2,500
Premium: .................................Annually $ 88.00
Bond No.: 567 99 44
Bond Period: January 5, 1984 to January 5, 1985
Insured: City Clerk
Coverage: $25,000
Premium: ................................Annually $ 225.00
Bond No.: 961-87-52
Bond Period: March 31, 1982 to March 31, 1985
Insured: Tax Assessor Collector
Coverage: $501,000
Premium: ................................Annually $ 225.00
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Insurance
Code
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Bond No.:
Bond Period:
Insured:
Coverage:
Premium:
S
Policy:
any:
Bond No.:
Bond Period:
Insured:
Coverage:
Premium:
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EXHIBIT J-18
Page 6 of 6
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE
September 30, 1984
(Unaudited)
FD9619936
August 4, 1984 to August 4, 1985
Municipal Court Administrator
$2,500
.........................................$ 30.00
Public Official Bond
Aetna Casualty and Surety Company
018-5-72205-DCA
March 5, 1983 to March 5, 1985
Chief Accounting Officer
$25,000
.........................................$ 88.00
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R1
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF EMPLOYEE BENEFIT INSURANCE
September 30, 1983
(Unaudited)
Insurance
T Policy:
Health Insurance
Company:
Fred S. James Benefits
Policy No.:
City of Wichita Falls Employee Benefit Trust
Policy Period:
October 1, 1984 through September 30, 1985
Perils:
Illness and accidental -injury (norrwork related)
Coverage:
$1,000,000 lifetime maximum
Deductible:
$150 annually per person (max 3 family members)
Coinsurance:
Coinsurance coverage begins when a limit of 20%
reaches $1,000 yearly, then James Benefits pays
100% of eligible expenses. James Benefits 80% -
employee 20% after deductible
Premium:
............................Annual Estimate $257,299.00
U Policy:
Dental Insurance
Company:
Fred S. James Benefits
Policy No.:
City of Wichita Falls Employee Benefit Trust
Policy Period:
October 1, 1984 through September 30, 1985
Perils:
Basic Dental Coverage with Orthodontics for
Children under 19
Coverage:
$1,000 annual max - basic coverage
$1,000 lifetime max - orthodontics
Deductible:
Basic coverage - $50 annually per person (max
3 family members); no deductible for orthodontics
Coinsurance:
80-20 basic, 50-50 orthodontics, 50-50 periodontics
Premium:
............................Annual Estimate $37,325.00
V Policy:
Life Insurance
Company:
Aetna Life and Casualty
Policy No.:
MI-47782 (Group #)
Policy Period:
October 1, 1984 through September 30, 1985
Perils:
Death and dismemberment benefits
Coverage:
Varies from $1,000; $3,000; $5,000; $7,000;
$10,000; $12,000; $15,000. Double indemnity
for accidental death. Dismemberment benefits.
Deductible:
N/A
Coinsurance:
N/A
Premium:
............................Annual Estimate $75,000.00
Insurance
Code
W
EXHIBIT J-19
Page 2 of 2
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF EMPLOYEE BENEFIT INSURANCE, Continued
September 30, 1984
(Unaudited)
Policy No.: Life Insurance (Directors Only)
Company Pilot Life Insurance Company
Policy No.: 0548 (Group #)
Policy Period: January 1, 1984 to December 31, 1985
Perils: Accidental death and dismemberment
Coverage: $25,000
Deductible: N/A
Coinsurance: WA
Premium: ............................Annual Estimate $
180.00
THIS PAGE IS INTE2TrIONALLY LEFT BLANK
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Wichita Falls