1990 Annual Financial ReportCITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1990
RECEIVED IN
CITY CLERK'S OFFICE
Date —// —1) — �/
By _—,C4 Time 164
ISSUED BY:
DEPARTMENT OF FINANCE
FRED L. WERNER, C.P.A.
DIRECTOR
ON THE COVER
The Wichita Falls Trails System from Lucy
Park to O'Reilly Park is a 3.1 mile paved
pathway used for walking, jogging, skating or
bike riding. The tree lined walk offers
benches, lighting, mile markers and a gazebo
as it winds past the waterfall and continues
adjacent to the Wichita River. Signage signals
points of interest to users such as the site of
the original Wichita Falls Waterfall which was
washed away in the late 1880's.
The second phase of the system —from the
Falls to O'Reilly Park —was officially opened in
1990.
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1990
TABLE OF CONTENTS
INTRODUCTORY SECTION
Exhibit Paqe
Letter of Transmittal i-ix
GFOA Certificate of Achievement x
organizational Chart xi
List of Principal officials xii
FINANCIAL SECTION
Independent Auditor's Report
1-2
GENERAL PURPOSE FINANCIAL STATEMENTS:
Combined Balance Sheet - All Fund Types and Account Groups
A-1
3-4
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types and
Expendable Trust Funds
A-2
5
Combined Statement of Revenues, Expenditures and changes
in Fund Balances - Budget and Actual - General, special
Revenue, and Debt Service Funds
A-3
6
Combined Statement of Revenues, Expenses and Changes in
Retained Earnings - All Proprietary Fund Types
A-4
7
Combined Statement of cash Flows - All Proprietary
Fund Types
A-5
8
Notes to the Financial Statements
9-39
REQUIRED SUPPLEMENTARY INFORMATION:
Texas Municipal Retirement System - Analysis of Funding
Progress - Last Ten Plan Years
B-1
40
Texas Municipal Retirement System - Revenues by Source
and Expenses by Type - Last Ten Plan Years
B-2
41
Firemen's Relief and Retirement Fund - Analysis of
Funding Progress
B-3
42
Firemen's Relief and Retirement Fund - Revenues by Source
and Expenses by Type - Last Ten Plan Years
B-4
43
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS:
General Fund:
Comparative Balance Sheet
C-1
44
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
C-2
45-48
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1990
TABLE OF CONTENTS (CONT'D.)
Exhibit Paqe
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONT'D.):
special Revenue Funds:
Combining Balance Sheet
D--1
49
Combining statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
D--2
50
Revenue Sharing Fund:
Comparative Balance Sheet
D--3
51
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D--4
52
Civic/Community Promotion Fund:
Comparative Balance Sheet
D--5
53
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D--6
54
Hotel/Motel Tax Fund:
Comparative Balance Sheet
D--7
55
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D--8
56
Community Development Block Grant Fund:
Comparative Balance Sheet
D--9
57
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D-10
58
Miscellaneous Special Revenue Fund:
Comparative Balance Sheet
D-11
59
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D-12
60
Section 8 Housing Fund:
Comparative Balance Sheet
D-13
61
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
D-14
62
Rental Rehabilitation Program Fund:
Comparative Balance Sheet
D-15
63
Statement of Revenues, Expenditures and changes
in Fund Balance - Budget and Actual
D-16
64
Debt Service Fund:
Comparative Balance Sheet
E-1
65
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual
E-2
66
Capital Projects Funds:
Combining Balance Sheet
F-1
67
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance
F-2
68
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1990
TABLE OF CONTENTS (CONT'D.)
Exhibit Paqe
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONT'D.):
Enterprise Funds:
Combining Balance Sheet G-1 69-70
Combining Statement of Revenues, Expenses and
changes in Retained Earnings G-2 71
Combining Statement of Cash Flows G-3 72
Internal Service Fund:
Comparative Balance Sheet H-1 73
Statement of Revenues, Expenses and Changes
in Retained Earnings H-2 74
Statement of Cash Flows H-3 75
Trust and Agency Funds:
Combining Balance Sheet I-1 76
Expendable Trust Funds - Combining statement
of Revenues, Expenditures and changes in
Fund Balance I-2 77
Agency Funds - Combining Statement of Changes
in Assets and Liabilities I-3 78-80
SUPPORTING SCHEDULES:
Combined Schedule of
Bonded Debt and Interest Maturities
J--1
81
Combined Schedule of
Bonds Payable
J--2
82-83
Debt Service Coverage
- Revenue Bonds
J--3
84
General Fixed Assets
- Comparative Schedule of
General Fixed Assets
- By Sources
J--4
85
General Fixed Assets
- Schedule of Changes in
General Fixed Assets
- By Sources
J--5
86
General Fixed Assets
- Schedule of General
Fixed Assets - By Function
and Activity
J--6
87
General Fixed Assets
- Schedule of Changes in
General Fixed Assets
- By Function and Activity
J--7
88
Airport Fund - Plant,
Equipment and Depreciation
J--8
89
Transit Fund - Plant,
Equipment and Depreciation
J--9
90
Sanitation Fund - Plant,
Equipment and Depreciation
J-10
91
water and Sewer Fund
- Plant, Equipment and Depreciation
J-11
92
Internal Service Fund
- Plant, Equipment and Depreciation
J-12
93
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1990
TABLE OF CONTENTS (CONT'D.)
Exhibit
Paqe
STATISTICAL SECTION (UNAUDITED)
General Governmental Expenditures by Function (General Fund
Only) - Last Ten Fiscal Years
K--1
94
General Governmental Revenues by Source (General Fund Only) -
Last Ten Fiscal Years
K--2
95
Property Tax Levies and Collections - Last Ten Fiscal Years
K--3
96
Assessed and Estimated Actual value of Taxable Property -
Last Ten Fiscal Years
K--4
97
Property Tax Rates and Tax Levies - All Overlapping
Governments - Last Ten Fiscal Years
K- 5
98
Ten Largest Taxpayers
K--6
99
Special Assessment Collections (Capital Improvement
Assessments Fund) - Last Ten Fiscal Years
K--7
100
Computation of Legal Debt Margin
K--8
101
Ratio of Net General Bonded Debt to Assessed value and
Net General Bonded Debt Per Capita - Last Ten Fiscal Years
K--9
102
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Expenditures -
Last Ten Fiscal Years
K-10
103
Computation of Direct and Overlapping Bonded Debt
K-11
104
Revenue Bond Coverage - Water and Sewer Revenue Bonds -
Last Ten Fiscal Years
K-12
105
Demographic Statistics - Last Ten Fiscal Years
K-13
106
Property value, Building Permits and Bank Deposits -
Last Ten Fiscal Years
K-14
107
Miscellaneous Statistical Data
K-15
108
Schedule of Insurance Coverage
K-16
109-113
Graphics:
Cash and Short -Term Investments
L--1
114
Total Bonds Payable
L--2
115
General obligation Bonds Payable
L--3
116
Revenue Bonds Payable
L--4
117
Total Fund Equity
L--5
118
Comparison of Tax Levy and Tax Collections
L--6
119
Analysis of Revenues By Source
L--7
120
Analysis of Expenditures By Function
L--8
121
General Governmental Revenues (General Fund Only) -
Last Ten Fiscal Years
L--9
122
General Governmental Expenditures (General Fund
Only) - Last Ten Fiscal Years
L-10
123
INTRODUCTORY
SECTION
Wichi�
TEXAS
February 15, 1991
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, 1990, is submitted
herewith. Local governmental accounting principles are primarily
promulgated by the Governmental Accounting Standards Board (GASB).
These principles have been adhered to in the preparation of this
report. The Notes to the Financial Statements presented with the
General Purpose Financial Statements section are an integral part
of this comprehensive annual financial report and should be read
for a fuller understanding of the statements and information
presented within.
Responsibility for both the accuracy of the presented data and the
completeness and fairness of the presentation, including all
disclosures, rests with the City. We believe the data, as
presented is accurate in all material aspects; that it is
presented in a manner designed to fairly set forth the financial
position and results of operation of the City as measured by the
financial activity of its various funds; and that all disclosures
necessary to enable the reader to gain understanding of the City's
financial activity have been included.
The Comprehensive Annual Financial Report of the City of Wichita
Falls, Texas, is reported in three sections; introductory,
financial and statistical. The introductory section includes this
transmittal letter, the government's organizational chart and a
list of principal officials. The financial section includes the
General Purpose Financial Statements and the combining and
individual fund and account group financial statements and
schedules, as well as the auditor's report on the financial
statements and schedules. The statistical section includes
selected financial and demographic information, generally presented
on a multi -year. basis. This report includes all funds and account
groups of the City.
1300 7th Street P.O. Box 1431 817/761-7611 Wichita Falls, Texas 76307
i
The City provides the full range of basic services contemplated by
charter on a continuing basis. These basic services include public
safety (police, fire and building inspection), highways and
streets, health and welfare services, culture -recreation, public
improvements, planning and zoning and general administration
services. In addition, the City provides water and sewer services
for its citizens.
In accordance with National Council on Governmental Accounting
(NCGA) Statement 3, which addresses the issue of defining the
reporting entity with respect to other agencies, institutions,
commissions, public authorities, or other governmental
organizations for inclusion in the reporting entity's general
purpose financial statements, four organizations were evaluated.
They were the Employee Benefit Trust Fund, Firemen's Relief and
Retirement Fund, Housing Authority of the City of Wichita Falls,
and the Wichita County/City Hospital Board. Only the Employee
Benefit Trust Fund met the criteria for inclusion in these
financial statements. The other three did not meet the criteria of
financial interdependency and therefore were not included in this
report. These organizations have substantial autonomy and separate
governmental entity characteristics and are governed by separate
boards. However, they are not funded by the City. The City is not
obligated to finance any deficits they may incur and the City does
not guarantee their indebtedness.
ECONOMIC CONDITION AND OUTLOOK
The City of Wichita Falls is located in North Central Texas,
approximately 130 miles northwest of the Dallas - Fort Worth
metropolitan area and 145 miles southwest of Oklahoma City. The
City of Wichita Falls is the county seat of Wichita County and was
incorporated in 1889. There are 50 square miles of land in the
City's boundary. Wichita Falls is the largest city within a 100-
mile radius and, therefore, a trade center for a 22-county area in
southern Oklahoma and north Texas. Retail trade includes building
materials, general merchandise, food stores, automotive, clothing,
home furnishings, restaurants, drug stores, liquor stores, and
miscellaneous retail. Wichita Falls is also a regional medical
center primarily serving a 16-county area. Approximately 240
physicians practice in this area, and there are 19 general and
specialized clinics in Wichita Falls. The community has a 6.6%
unemployment rate compared to a state rate of 6.2% as of September
30, 1990.
MAJOR INITIATIVES
For the Year. The City of Wichita Falls has identified programs
to meet citizens requests for services and to safeguard the
environment, in conformity with applicable federal and
state standards. Significant work has been done on the Holliday
Creek channel expansion and progress is going well.
ii
Major Initiatives, Continued.
For the Future. The City was notified on October 18, 1989 that the
final commitment has been made by the Texas Water Development Board
for financial assistance in the amount of $26,210,000 from the
State Water Pollution Control Revolving Fund. This will be
evidenced by the Board's purchase of $26,210,000 City of Wichita
Falls Water and Sewer System Subordinate Lien Revenue bonds,
maturing August 1, 1993 through 2012. The proceeds from this loan
will be used for sewer treatment plant renovation and expansion and
the installation of a large capacity sewage collection interceptor
line.
The City currently is evaluating the feasibility of a general
obligation bond issue for street improvements and expansion of
police facilities.
FINANCIAL INFORMATION
In developing and evaluating the City's accounting system,
consideration is given to the adequacy of internal accounting
controls as deemed appropriate by the City Manager. Internal
accounting controls are designed to provide reasonable, but not
absolute, assurance regarding: (1) the safeguarding of assets
against loss from unauthorized use or disposition; and (2) the
reliability of financial records for preparing financial statements
and maintaining accountability for assets. The concept of
reasonable assurance recognizing that: (1) the cost of a control
should not exceed the benefits likely to be derived; and (2) the
evaluation of costs and benefits requires estimates and judgments
by the City Manager.
All internal control evaluations occur within the above framework.
The City believes that its internal accounting controls adequately
safeguards assets and provide reasonable assurance of proper
recording of financial transactions.
Budgetary control is maintained at the class level within each
division by the encumbrance of estimated purchase amounts prior to
the release of purchase orders to vendors. Purchase orders which
result in an overrun of class level balances are not released until
additional appropriations are made available. Open encumbrances
are reported as reservations of fund balance at September 30, 1990.
GOVERNMENTAL FUND TYPES, General Fund. Revenues in General Fund
totaled $28,543,498 in the 1989-90 fiscal year, an increase of 2.0%
from the 1988-89 fiscal year. The increase is due primarily to an
increase in ad valorem taxes collected. General property taxes
produced 47.04% of general revenues compared to 46.25% in 1988-89
and 47.08% in 1987-88.
iii
Governmental Fund Types, Continued.
Percent
Revenue Source Amount of Total
Increase
(Decrease)
Over Prior
Year
Taxes
$23,736,091
83.16% $
700,705
Charges for service
1,234,406
4.33
( 27,149)
Licenses and permits
440,088
1.54
( 769)
Fines
900,404
3.15
66,076
Intergovernmental revenue
779,466
2.73
( 11,917)
Miscellaneous revenue
1,453,043
5.09
(144.515)
Totals
$28,543,498 100.00% $ 582,431
Assessed valuation was $2,299,158,235 based on 100% of market
value. Current tax collections were 97.44% on the tax levy, up
1.13% from last year. The ratio of total collections (current and
delinquent) to the current tax levy was 100.34%. Allocation of the
property tax levy by purpose for the year ended September 30, 1990,
and the preceding two fiscal years was as follows:
Purposes
General Government
Debt Service Fund
1989-90
$12,734,735
2,220,558
1988-89
$12,413,867
2,255,081
1987-88
$12,413,891
2,255,057
The increase in levels of expenditures for major functions of the
City over the preceding year are shown in the following tabulation:
Function
Amount
Administrative Services $ 4,655,580
Police
8,359,078
Fire
5,360,935
Parks and Recreation
2,388,480
Accounting/Finance
428,310
Planning
326,867
Public Works
4,224,499
Health
1,933,354
Traffic and Transportation
1.197,787
Increase
(Decrease)
Percent Over Prior
of Total Year
16.12% $ 140,632
28.95
681,578
18.57
120,650
8.27
( 90,256)
1.48
9,577
1.13
( 10,020)
14.63
( 8,245)
6.70
102,392
4.15
( 51,719)
Totals $28,874,890 100.00% $ 894,589
iv
Governmental Fund Types, Continued.
Expenditures from the General Fund totaled $28,874,890, a increase
of 1.03% over the 1988-89 fiscal year.
The increase in Administrative Services was due to Library funding
for improvements and the acquisition of new books and studies.
A major change is seen in the Police Department due to an increase
in personnel related cost for full staffing.
The Fire Department had an increase in operational salaries during
the fiscal year 1989-90.
The decrease in the Parks & Recreation Department was due to the
completion of work on the softball complex.
The increase in the Health Department was due to the acquisition of
additional state grants; primarily AIDS grants.
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, 1990, was $.6479 per $100
which means that the City has a tax margin of $1.6021 per $100, and
could raise up to $36,834,814 additional tax revenue a year from
the present assessed valuation of $2,299,158,235 before the limit
is reached.
General Fund Balance. The fund balance of the general fund
increased by 3.80 percent in 1990. The $405,634 increase provides
the government with an additional margin for working days of
expenditures.
SPECIAL REVENUE FUNDS. The Civic/Community Promotion Fund is a
Special Revenue Fund used to account for revenues from various
rents and concessions associated with the Auditorium and the
Activity Center.
The Hotel/Motel Tax Fund is a Special Revenue Fund used to account
for revenues from the City -imposed tax of 7% on rental of
hotel/motel rooms within the City with a 6% State tax for a total
of 13%.
v
The Revenue Sharing Fund, Community Development Block Grant Fund,
Rental Rehabilitation Fund and the Section 8 Housing Fund, which
are used to subsidize rents and housing payments for lower income
families within the City, are also included in the Special Revenue
Funds.
CAPITAL PROJECTS FUNDS. The Capital Projects Funds are used to
account for all resources used for the acquisition of capital
facilities except those financed by enterprise funds. At the end
of the fiscal year, completed projects are transferred to General
Fixed Assets. During the 1989-90 fiscal period, expenditures from
the Capital Projects Funds amounted to $1,649,891. Capital
Projects Funds equity balances on hand as of September 30, 1990,
were $10,756,349. The significant uncompleted project in Capital
Projects Funds at the present time is:
Holliday Creek Flood Control Project
CAPITAL IMPROVEMENT ASSESSMENTS FUND. The Capital Improvement
Assessment Fund was established to conform to current financial
reporting standards. It is used to account for street and sidewalk
paving projects. Fund balance for the year ended September 30,
1990 was $536,341.
PROPRIETARY FUNDS, Water and Sewer. The
for the past three years is presented in
Water and Sewer: 1989-90
Income Available for Debt
Service $5,127,614
Maximum Annual Debt
Service 2,905,214
Maximum coverage (income
available for debt service
divided by maximum annual
debt service) 1.76
Water and Sewer operations
the following tabulation:
1988-89 1987-88
$5,867,611 $5,805,625
2,456,678
2.39
2,453,276
2.37
Airport. Operating revenues of the Airport for the year ended
September 30, 1990, were $233,206. This is an increase of 16.0%
over the prior year. Operating expenses decreased 27.0% to
$252,685 compared to $320,966. This was due to refurbishing and
improving the interior of the airport terminal in the prior fiscal
year.
Transit. Operating revenues of the Transit system were consistent
with the prior year: 89-90 - $147,976; 88-89 - $153,955; a
modest decrease of 4.0%. Operating expenses were: 89-90 $558,843;
88-89 $509,543; an increase of 9.6%.
vi
Sanitation. Sanitation revenues for the year ended September 30,
1990, were $5,336,392. In 88-89 they were $5,401,001, a decrease
of 1.2% from the prior year. Operating expenses increased 15.6%
from $4,569,624 in 88-89 to $5,284,649 in 89-90.
Internal Service Fund. Fleet Maintenance Internal Service Fund.
The City uses an Internal Service Fund for improved maintenance
over the vehicle fleet. Divisions which use the vehicles and
equipment are charged a month rental fee for the use of the
vehicle. Total operating revenues for the year ended September 30,
1990 were $5,301,885 compared to $5,246,378 in the prior year.
Fiduciary Funds. Fiduciary Funds are set up for the purpose of
accounting for money and property received from non -enterprise fund
sources and held by a governmental unit in the capacity of trustee,
custodian, or agent for individuals, governmental entities and non-
public organizations. Included in the Fiduciary Funds are the
Employee Benefit Trust Fund, Wichita Falls Reinvestment Zone #1
Fund, Social Security Fund, Payroll Fund, Tax Collection Fund,
Accounts Payable Fund, and the Deferred Compensation Fund.
The City of Wichita Falls, Texas created the Reinvestment Zone
Number One on March 18, 1986 under Ordinance 22-86. Subsequent to
the aforementioned date, the City of Wichita Falls, Texas
contracted with the County of Wichita and the Wichita Falls
Independent School District for a 15% reduction in the tax
increment which these entities will be contributing to the Tax
Increment Fund for Reinvestment Zone Number One. Both of these
contracts were passed and approved by Resolution 199-86 and 200-86
respectively on December 16, 1986. The City of Wichita Falls,
Texas will be contributing 100% of the revenue from its tax
increment. Wichita County and Wichita Falls Independent School
District will be contributing 85% of the revenue from their tax
increment.
The Tax Increment Base for Reinvestment Zone Number One for tax
year 1-1-90 is as follows:
City
Wichita County
School
Taxable
Tax
Increment Base
1-1-86
$65,088,519
65,088,519
64,986,977
Tax Current Captured
Increment Base Appraised Value
1-1-90 1-1-90
$53,756,683
53,756,683
53,653,827
$1,842,709
1,842,709
1,828,864
vii
Values for January 1, 1990 are subject to modifications by the
Wichita Appraisal District, Appraisal Review Board.
The Reinvestment Zone Number One has recognized revenues from
the tax increment as of September 30, 1990, in the amount of
$27,129.
DEBT ADMINISTRATION. Outstanding general obligation bonds at
September 30, 1990, totaled $20,325,000 and is considered to be
direct tax supported debt. 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. The data for the 1989-90
fiscal year was as follows:
Ratio of Debt
To Assessed Debt Per
Value Capita
Net Direct Bonded Debt $19,630,065 .85% $204
The current ratings are as follows:
General Obligation Bonds
Water and Sewer Revenue Bonds
Moody's Investors Standard &
Service Poor's
Al AA
Al A+
TREASURY MANAGEMENT. Cash which was temporarily idle during the
year, including debt retirement funds, operating funds, and bond
proceeds, was invested in a public funds investment pool,government
securities and repurchase agreements. The total amount of interest
earned on these investments amounted to $3,651,461; an increase
over the prior year of $50,900 or 1.4%.
RISK MANAGEMENT. During 1989-90, the City of Wichita Falls
continued a risk management program for worker's compensation.
Various risk control techniques, including employee accident
prevention training, have been utilized during the year to minimize
accident -related losses.
viii
OTHER INFORMATION
INDEPENDENT AUDIT. The City Charter requires an annual audit
of the books of account, financial records, and transactions of all
administrative departments of the City by Certified Public
Accountants, selected by the Mayor and City Council. This
requirement has been complied with and Mathis, West, Huffines &
Co., P.C.'s opinion has been included in this report. The
statistical section of this report was not included within the
scope of the audit.
AWARDS. The Government Finance Officers Association of the United
States and Canada (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City of Wichita Falls,
Texas, for its Comprehensive Annual Financial Report for the fiscal
year ended September 30, 1989. The Certificate of Achievement is
the highest form of recognition for excellence in state and local
government financial reporting.
In order to be awarded a Certificate of Achievement, a government
unit must publish an easily readable and efficiently organized
Comprehensive Annual Financial Report, whose contents conform to
program standards. Such Comprehensive Annual Financial Report
must satisfy both generally accepted accounting principles and
applicable legal requirements.
A Certificate of Achievement is valid for a period of one year
only. We believe our current report continues to conform to
Certificate of Achievement program requirements, and we are
submitting it to the GFOA.
ACKNOWLEDGEMENTS. Our appreciation is extended to the various
elected officials, department heads and employees responsible for
the fair presentation of the Comprehensive Annual Financial Report
and contributing to the sound financial position of the City of
Wichita Falls. The City of Wichita Falls has been blessed with a
group of persons who appreciate and respect principles of fiscal
restraint and propriety. In particular, I would like to
acknowledge the special effort of the Department of Finance
employees who contributed directly to the development of this
report. The continuing support of Wichita Falls' elected officials
and City Manager, who remain committed to fiscal integrity and
financial leadership, is likewise appreciated.
Sincerely yours,
Fred L. ?erner, CPA
Director of Finance
ix
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Wichita Falls,
Texas
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 1989
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFR's) achieve the highest
standards in government accounting
and financial reporting.
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ENONEERINO SANITATION
STREET 11ME3
YANTENANCE
CITY OF WICHITA FALLS, TEXAS
LIST OF PRINCIPAL OFFICIALS
SEPTEMBER 30, 1990
Title Name
Mayor
Michael Lam
Mayor Pro-Tem
Donald Kirkham
City Council Member
Angus Thompson
City Council Member
David Farabee
City Council Member
Paul Hughes
City Council Member
J. W. Martin
City Council Member
Charles Thomas
City Manager
James Berzina
City Attorney
Gregory Humbach
Municipal Court Judge
Larry Gillen
City Clerk
Wilma Thomas
Assistant City Manager
Louise Houseworth
Director of Traffic and Transportation
Robert Parker
Director of Finance
Fred Werner, C.P.A.
Director of Administrative Services
Louise Houseworth
Director of Planning
Roger McKinney
Director of Public Health
Tom Edmonson
Police Chief
Curtis Harrelson
Fire Chief
Ronnie James
Director of Parks and Recreation
Jack Murphy
Director of Public Works and
Public Utilities
George Bonnett, P.E.
xii
FINANCIAL
SECTION
MATHIS, WEST, HUFFINES & CO., P.C.
Certified Public Accountants
Capital Center • Indiana at Seventh
P. O. Box MWH • Wichita Falls, Texas 76307-9980
(817) 723-1471 • FAX (817) 723-2251
Independent Auditor's Report
The Honorable Mayor and Members of the city council
city of Wichita Falls, Texas
we have audited the accompanying general purpose financial statements of the
City of Wichita Falls, Texas, as of and for the year ended September 30, 1990,
as listed in the table of contents. These financial statements are the
responsibility of the city's management. our responsibility is to express an
opinion on these financial statements based on our audit.
we conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the general purpose financial statements are
free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the general purpose financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
general purpose financial statement presentation. we believe that our audit
provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above
present fairly, in all material respects, the financial position of the City of
Wichita Falls, Texas, at September 30, 1990, and the results of its operations
and the cash flows of its proprietary fund types for the year then ended, in
conformity with generally accepted accounting principles.
The information listed as required supplementary information in the table
of contents is not a required part of the general purpose financial statements,
but is supplementary information required by the Governmental Accounting
Standards Board. we have applied certain limited procedures, which consisted
principally of inquiries of management regarding the methods of measurement and
presentation of the required supplementary information. However, we did not
audit the information and express no opinion on it.
1
our audit was conducted for the purpose of forming an opinion on the general
purpose financial statements taken as a whole. The combining and individual fund
financial statements and the supplementary information listed as supporting
schedules in the table of contents are presented for purposes of additional
analysis and are not a required part of the general purpose financial statements
of the City of Wichita Falls, Texas. The information has been subjected to the
auditing procedures applied in the audit of the general purpose financial
statements and, in our opinion, is fairly stated in all material respects in
relation to the general purpose financial statements taken as a whole. The
supplementary information in the statistical section as listed in the table of
contents has not been audited by us, and we do not express an opinion on it.
Wichita Falls, Texas
January 11, 1991
MATHIS, WEST, HUFFINES & CO., P.C.
2
GENERAL PURPOSE
FINANCIAL
STATEMENTS
Wichita
TEXAS'
W
EXHIBIT A-1
(Page 1 of 2)
CITT OF WICHITA FALLS, TEXAS
COMBIAND HALJICE SHEET - ALL FUND TYPES MM ACCOO GROUPS
SEPTA®M 30, 2990
WITH COWARATIVE TOTALS FOR SEPTA®ER 30, 1989
Fiduciary
Account
Groups
Governmental Fund Types
Proprietary Fund Types
Fund Type.
General
General
Totals
Special
Debt Capital
Internal
Trust and
Fixed
Long -Tern
(Memorandum Only)
General
Revenue
Service Projects
Enterprise
service
Agency
Assets
Debt
1990
1989
ASSETS
Cash and cash equivalents
$10,855,127
$1,081,417
$ 680,353 $ 5,586,663
$ 9,219,916
$ 586,563
$ 440,995
$ -
$ -
$ 28,451,034
$ 27,597,842
Investments
-
-
- 5,193,096
-
-
996,555
-
-
6,191,651
7,573,114
Receivables (net of allowance for
uncollectible):
Taxes and assessments (Note 5)
1,135,317
172,402
372,754 438,376
-
-
2,758,948
-
-
4,877,797
5,064,653
Customer and trade
-
-
- -
1,840,856
-
-
-
-
1,840,856
1,722,099
Other City funds (Note 15)
538,038
-
- -
-
-
-
-
-
538,038
175,775
Government agencies
685,790
1,046,139
- -
343,291
-
-
-
-
2,075,220
2,482,094
other
138,284
6,435
- -
182,591
-
-
-
-
327,310
330,726
Inventory
47,266
-
- -
605,681
316,403
-
-
-
969,350
874,65S
Prepaid item.
194,709
137,323
- -
6,507
244
-
-
-
338,783
69,406
Restricted assets (Note 6):
Cash and cash equivalents
-
-
- -
5,143,445
-
-
-
-
5,143,445
1,770,359
Investment.
-
-
- -
2,561,033
-
-
-
-
2,561,033
4,770,910
Receivables:
Government agencies
-
-
- -
1,501,401
-
-
-
-
1,501,401
166,308
Other
-
-
- -
23,827
-
-
-
-
23,827
97,754
Plant and equipment (Note 7):
Land and betterments
-
-
- -
24,598,680
433,658
-
14,473,953
-
39,506,291
39,450,813
Buildings, systems and improvements
-
-
- -
74,891,068
4,008,948
-
14,117,353
-
93,017,369
91,983,631
Machinery and equipment
-
-
- -
2,751,638
-
-
4,500,340
-
7,259,978
6,417,712
Furniture and fixtures
-
-
- -
44,863
5,974
-
429,794
-
480,631
494,281
Motor vehicles and equipment
-
-
- -
3,670
16,157,802
-
56,861
-
16,218,333
15,474,033
Construction in progress
-
-
- -
5,650,573
-
-
-
-
5,650,573
2,748,131
Accumulated depreciation
-
-
- -
( 34,579,391)
( 9,201,201)
-
-
-
( 43,780,592)
( 40,819,042)
Deferred charges
-
-
- -
593,869
-
-
-
-
593,869
617,893
Other assets
524
-
- -
-
-
-
-
-
524
100
Amount available for retirement of bonds
-
-
- -
-
-
-
-
694,935
694,935
584,800
Amount to be provided for the retirement
of capital leases
-
-
- -
-
-
-
-
66,626
66,626
86,455
Amount to be provided for accrued
vacation and sick leave
-
-
- -
-
-
-
-
3,246,745
3,246,745
3,084,558
Amount to be provided for the
retirement of bonds
-
-
- -
-
-
-
-
19,630,065
19,630,065
20,410,200
Amount to be provided for claims
and judgments
-
-
- -
-
-
-
87,836
87,836
97,664
Total assets
$13,595,055
$2,443,716
$1,053,107 $11,218„135
$95,383,518
$12,308,391
$4, 198,498
$33,586,301
$23„726,207
$197,512,928
$193„327,824
The accompanying Notes are an integral part of these financial statements.
41
EXHIBIT A-1
(Page 2 of 2)
CITY OF WICHITA FALLS, T®8
CONSIMM BALASCE B EST - ALL FUND TYPES Aso ACCOUNT GROUPS (COHT•D.)
EE31TEI®1K1t 30, 1990
WITH C014PARATWX TOTALS FOR SEPTEMBER 30, 1989
Fiduciary Account Groups
Governmental Fund Tvpes Proprietary Fund Types Fund Types General General Totals
special Debt Capital Internal Trust and Fixed Long -Term (Memorandum Only)
General Revenue Service Projects Enterprise Service Agency Assets Debt 1990 1969
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable - trade $ 553,688 $ 141,397 $ - 6 9,332 S 662,410 $ 224,449 $ 57,176 6 - $ - 6 1,648,452 $ 1,904,315
Accrued payroll 245,452 5,292 - - 262,826 60,715 - - - 574,285 544,051
Accrued vacation and sick leave
(Note 18) 100,000 - - - - - - - 3,246,745 3,346,745 3,184,558
Payable to other City funds (Note 15) - 189,785 - - 348,253 - - - - 538,038 175,775
Payable to government agencies 66,034 9,624 - - 29,415 - 2,756,664 - - 2,861,737 2,901,506
Estimated health claims payable - - - - - - 316,546 - - 316,546 186,863
other liabilities 496,823 14,223 - 14,077 139,491 - 1,000,677 - - 1,665,291 1,516,526
Deferred revenue 1,065,442 - 358,172 438,377 - - - - - 1,861,991 1,997,193
Capital leases payable (Note 12) - - - - - - - - 66,626 66,626 86,455
Claims and judgments payable (Note 18) - - - - - - - - 87,836 87,836 97,664
Payable from restricted assets:
Contracts and trade - - - - 960,962 - - - - 960,962 222,439
Revenue bonds (Note 13) - - - - 680,000 - - - - 680,000 640,000
Accrued interest - revenue bonds - - - - 300,344 - - - - 300,344 302,458
Matured bonds and interest payable - - - - 3,000 - - - - 3,000 3,000
General obligation bonds payable
(Note 13) - - - - - - - - 20,325,000 20,325,000 20,995,000
Payable to U.S. Government (Note 10) - - - - 1,059,672 - - - - 1,059,672 1,076,623
Revenue bonds payable (Note 13) - - - - 24,146,401 - - - - 24,146,401 22,195,000
Other long-term liabilities:
Customer deposits - payable from
restricted assets - - - 1,080,408 - - - - 1,080,408 1,035,217
Total liabilities 2,527,439 360,321 358,172 461,786 29,673,182 285,164 4,131,063 - 23,726,207 61,523,334 59,064,643
Fund equity:
Contributed capital (Note 17) - - - - 22,416,467 12,388,618 - - - 34,805,005 34,536,409
Investment in general fixed assets - - - - - - - 33,586,301 - 33,586,301 33,476,733
Retained earnings (deficit):
Reserved for revenue bond
debt service - - - - 2,873,399 - - - - 2,873,399 2,867,097
Unreserved (Note 3) - - - - 40,420,470 ( 365,391) - - - 40,055,079 37,777,136
Fund balances:
Reserved for encumbrances 1,174,981 52,886 - 5,202,757 - - - - - 6,430,624 3,100,{06
Reserved for inventory and
prepaid items 241,975 135,323 - - - - - - - 377,298 96,379
Unreserved:
Designated for:
Subsequent years expenditures 2,250,000 1,775,747 - 5,553,592 - - 67,435 - - 9,646,774 13,661,462
Debt service - - 694,935 - - - - - - 694,935 584,800
Undesignated (Note 3) 7,400,660 119,439 - - - - - - - 7,520,099 8,162,759
Total fund equity 11,067,616 2,083,395 694,935 10,756,349 65,710,336 12,023,227 67,435 33,586,301 - 135,989,594 134,263,181
Total liabilities and fund equity $13,595,055 $2,143,716 $1,053,107 $11,218.135 $95,383„518 $12,308,391 54,198,498 633,586,301 $23,726,207 5197,512, 928 $193,327,82{
The accompanying Notes are an integral part of these financial statements.
EXHIBIT A-2
CITr of N3:CBITA FALLS, TEAS
C0M33CM BTATEI®T OF NZVENOES, ..- ... - .. AND CHANCES 339 FOND BALANCES -
ALL .. i... �. ... .. . FUND SrPMS AID EZPEmAHLE MIDST FONHE
FOR THE YEAH END® SZPTMMM 30, 1990
WI:28 CONPAHATIVE TOTALS FOR TM YEAR END® SEPTZK8= 30, 1989
Revenues:
Taxes (Note 5)
Charges for services
Licenses and permits
Fines
Intergovernmental revenue
Contribution.
Miscellaneous revenue
Total revenues
Expenditures:
Current:
Administrative services division
Police division
Fire division
Parke and recreation division
Accounting/finance division
Planning division
Public vorks division
Health division
Traffic and transportation division
Capital outlay
Debt service:
Principal retirement
Interest and paying agent fees
Total expenditures
Excess of revenues over (under) expenditures
Other financing sources (uses):
Operating transfers in (Note 15)
Operating transfers out (Note 15)
capitalized leases
Total other financing
sources (uses)
Excess of revenues and otber sources over
(under) expenditures and other uses
Fund balance (deficit) - beginning
Fund balance - ending
Fiduciary
Governmental
Fund Types
Fund Types
Totals
Special
Debt
Capital
Expendable
(Memorandum Only)
General
Revenue
Service
Projects
Trust
1990
1989
$23,736,091
$ 589,922
$2,267,952
$ -
$ 27,129
$26,621,094
$25,999,631
1,234,406
-
-
-
-
1,234,406
1,261,555
440,088
-
-
-
-
440,088
440,857
900,404
-
-
-
-
900,404
834,328
779,466
2,910,982
-
-
-
3,690,448
3,819,789
-
-
-
-
2,336,320
2,336,320
2,110,748
1,453.043
592,584
129,922
937,360
3,112,909
3,259,073
28,543,498
4,093,488
2,397,874
937,360
2,363,457
38,335,677
37,725,981
4,655,580
2,825,943
-
-
2,288,248
9,769,771
9,477,504
8,359,078
-
-
-
-
8,359,078
7,677,500
5,360,935
-
-
-
-
5,360,935
5,240,285
2,388,480
347,159
-
-
-
2,735,639
2,762,033
428,310
-
-
-
-
428,310
424,524
326,867
-
-
-
-
326,867
336,887
4,224,499
1,280,800
-
-
-
5,505,299
5,068,608
1,933,354
93,110
-
-
-
2,026,464
1,918,679
1,197,787
338,449
-
-
-
1,536,236
1,525,711
-
22,550
-
1,649,891
-
1,672,441
915,523
-
-
670,000
-
-
670,000
635,000
-
1,617,739
-
1,617,739
1,652,424
28,874,890
4,908,011
2,287,739
1,649,891
2,288,248
40,008,779
37,635,478
( 331,392)
( 814,523)
110,135
( 712,531)
75,209
( 1,673,102)
90,503
950,541
246,862
-
-
-
1,197,403
1,141,200
( 213,515)
( 246,862)
-
-
-
( 460,377)
( 355,556)
-
-
-
84,970
737,026
-
737,026
870,512
405,634
( 014,523)
110,135
( 712,531)
75,209
( 936,076)
961,015
10,661,982
2,897,918
584,800
11,468,880
( 7.774)
25,603,806
24,644,791
$11,067.616
$2,083,395
694 935
$10,756,349
$ 67,435
$24,669,730
$25,605.806
The accompanying Notes are an integral part of these financial statements.
EXHIBIT A-3
CITY or WICK"A FALLS. TEAS
c00®IBlm STATZEwr or zwMans, ...� ... -".-, .., AND CaasGES IS F001D RALAMCKS - BUDGET AMD ACTUAL -
GEMER1L, SPECIAL NEVADE, AND DEBT SERVICE FUNDS
FOR THE YEAR ENDED SEPrnUMM 30, 199$
Total■
General Fund
Special
Revenue
Fund.
Debt Service
Fund
(Memorandue, Only)
Variance -
Variance -
Variance -
Variance -
Favorable
Favorable
Favorable
Favorabl.
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorabl.)
Revenue.,
T.- (Not. 5)
$23,265,246
$23,736,091
$ 470,945
$ 561,000
$ 509,922
$ 28,922
$2,290,815
$2,267,952
($ 22,863)
$26,117,061
$26,593,965
f 476,904
Charge. for services
1,242,130
1,234,406
( 7,724)
-
-
-
-
-
-
1,242,130
1,234,406
( 7,724)
License. and permit.
410,782
440,080
21,306
-
-
-
-
-
-
410,782
440,000
21,306
Fins
903,200
900,404
( 02,796)
-
-
-
-
-
-
903,200
900,404
( 02,796)
Intergovernmental revenue
1,212,250
779,466
( 432,792)
2,952,142
2,910,982
( 41,160)
-
-
-
4,164,400
3,690,448
( 473,952)
Miscellaneous revenue
986,996
1,453,043
466,047
504,680
592,504
87,896
129,922
129,922
1,491,684
2,175,549
603,065
Total revenue*
28,108,612
28,543,490
434,896
4,017,830
4,093,488
75,650
2,290,815
2,397,874
107,059
34,417,257
35,034,860
617,603
Expenditures,
Currant,
Admini.trativ. ssrvie..
division
5,167,747
4,655,580
512,167
3,118,552
2,025,943
292,609
-
-
-
0,206,299
7,401,523
804,776
Police division
0,791,960
0,359,078
432,882
-
-
-
-
-
-
0,791,960
8,359,070
432,802
Fire division
5,399,093
5,360,935
38,950
-
-
-
-
-
-
5,399,093
5,360,935
38,950
Park. and recreation
division
2,469,907
2,308,480
01,507
704,709
347,159
357,550
-
-
-
3,174,696
2,735,639
439,057
Accounting/finance division
434,725
420,310
6,415
106
-
106
-
-
-
434,031
420,310
6,521
Planning division
362,671
326,867
35,004
-
-
-
-
-
-
362,671
326,867
35,004
Public work. division
4,007,946
4,224,499
663,447
1,603,678
1,280,000
602,878
-
-
-
6,771,624
5,505,299
1,266,323
Health division
2,052,220
1,933,354
118,866
96,765
93,110
3,655
-
-
-
2,148,905
2,026,464
122,521
Traffic and transportation
division
1,261,232
1,197,787
63,445
501,571
330,449
163,122
-
-
-
1,762,603
1,536,236
226,567
Capital outlay
-
-
-
335,864
22,550
313,314
-
-
-
335,064
22,550
313,314
Debt ssrvic.,
Principal retirement
-
-
-
-
-
-
670,000
670,000
-
670,000
670,000
-
Interest and paying
agent f..s
-
-
1,620,015
1,617,739
3,076
2,620,815
1,617,739
3,076
Total expenditures
30,029,381
28,874,890
1,953, 491
6,641,245
4, 908,011
1,733,234
2,290,$15
2,287,739
3,079
39,760,441
36,070,640
3,609,901
Excess of revenues over
(under) expenditures
( 2,719,769)
( 331,392)
2,300,377
( 2,623,415)
( 814,523)
1,608,892
110,135
110,135
( 5,343,204)
( 1,035,780)
4,307,404
Other financing sources (uses),
Operating transfer. in
(Note 15)
950,541
950,541
-
260,500
246,862
( 21,638)
-
-
-
1,219,041
1,197,403
( 21,638)
Operating transfers out
(Not. 15)
1 213,516)
( 213,515)
1
( 260,500)
( 246,862)
21,636
( 402,016)
( 460,377)
21,639
Total other financing
source. (.... )
737,025
737,026
1
-
737,025
737,026
1
Excess of revenues and other
sources over (under)
expenditures and other ....
IS 1,982,744)
405,634
52,388,37•
($2,623,415)
( 014,523)
$1,008,892
$
110,135
$ 110, 135
($ 4,606,159)
( 290,754)se
$4,307,405
Fund balance - beginning
10,661,982
2,097,910
504,000
14,144,700
Fund balance - ending
$11,067,616
52, 083,395
$ 694,935
$13,845,946
The accompanying Notes are an integral part of the** financial statements.
EXHIBIT A-4
CITY OF WICHITA FALLS, TEXAS
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS -
AIX PROPRIETARY FUND TYPES
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Operating revenues:
Charges for services
Rents, concessions and other
Total operating revenues
Operating expenses:
Personnel services
Supplies and materials
Maintenance and repairs
Utilities and other services
Insurance and contract support
Depreciation and amortization
Total operating expenses
operating income
Non -operating revenues (expenses):
Interest income
Gain (loss) on sale of fixed assets
Litigation proceeds
Interest expense and paying agent fees
Contributions from operating grants
Total non -operating revenues
(expenses)
Income before operating transfers
Operating transfers:
Operating transfers in (Note 15)
Operating transfers out (Note 15)
Net operating transfers
Net income (loss)
Retained earnings (deficit) - beginning
Equity transfer
Retained earnings (deficit) - ending
Proprietary
Fund Tvpes
Totals
Internal
(Memorandum
Only)
Enterprise
Service
1990
1989
$18,055,639
$ -
$18,055,639
$17,757,846
399,227
5,301,885
5,701,112
5,610,195
18,454,866
5,301,885
23,756,751
23,368,041
5,508,731
1,069,501
6,578,232
6,124,253
799,858
1,082,776
1,882,634
1,716,649
5,420,000
1,031,205
6,451,205
5,553,813
2,342,324
202,765
2,545,089
2,438,652
535,262
6,558
541,820
540,829
1,967,252
1,778,844
3,746,096
3,591,266
16,573,427
5,171,649
21,745,076
19,965,462
1,881,439
130,236
2,011,675
3,402,579
1,263,719
-
1,263,719
1,360,569
( 2,829)
106,819
103,990 (
40,355)
51,980
-
51,980
52,000
( 584,477)
-
( 584,477) (
800,717)
182,846
-
182,846
160,445
911,239
106,819
1,018,058
731,942
2,792,678
237,055
3,029,733
4,134,521
213,515
-
213,515
180,558
( 638,107)
( 312,434)
( 950,541) (
966,100)
( 424,592)
( 312,434)
( 737,026) (
785,542)
2,368,086
( 75,379)
2,292,707
3,348,979
40,934,245
( 290,012)
40,644,233
37,295,254
( 8,462)
-
( 8,462)
-
$43,293,869
($ 365,391)
$42,928,478
$40,644,233
The accompanying Notes are an integral part of these financial statements.
7
EXHIBIT A-5
CITY OF WICHITA FALLS, TEXAS
COMBINED STATEMENT OF CASH FLOWS -
ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Cash flows from operating activities:
Operating income
Adjustments to reconcile operating income
to net cash provided by operating activities:
Depreciation and amortization
Increase (decrease) in current assets
and liabilities:
Receivables:
Customer and trade
Government agencies
Other
Inventory
Prepaid items
Restricted assets
Accounts payable - trade
Accrued payroll
Payable to other City funds
Payable to government agencies
Other liabilities
Other liabilities payable from
restricted assets
Total adjustments
Net cash provided by
operating activities
Cash flows from noncapital financing activities:
Customer deposits received
Operating grants received
Operating transfers in from other funds
Operating transfers out to other funds
Net cash used for noncapital
financing activities
cash flows from capital and related financing
activities:
Proceeds from sale of revenue bonds
Acquisition and construction of
capital assets
Purchase of water rate study
Litigation proceeds
Principal paid on revenue bond maturities
and construction contracts
Interest paid on revenue bonds and
construction contracts
Proceeds from sale of equipment
Contributed capital
Net cash used for capital
and related financing
activities
Cash flows from investing activities:
Purchase of investment securities
Proceeds from sale and maturities of
investment securities
Interest and dividends on investments
Net cash provided by
investing activities
Net increase (decrease) in cash
and cash equivalents
Cash and cash equivalents at beginning
of year
Cash and cash equivalents at end of year
Proprietary Fund Types
Internal
Enterprise Service
$ 1,881,439 $ 130,236
1,967,252 1,778,844
Totals
(Memorandum Only)
1990 1989
$ 2,011,675 $ 3,402,579
3,746,096 3,591,266
( 117,957)
-
( 117,957) (
4,077)
( 182,846)
-
( 182,846)
26,170
( 86,954)
-
( 86,954) (
50,991)
( 42,969)
( 36,019)
( 78,988)
13,054
( 1,984)
( 181)
( 2,165)
4,240
( 1,427,474)
-
( 1,427,474)
44,427
221,313
( 46,888)
174,425 (
303,235)
7,426
( 1,396)
6,030
17,466
187,994
-
187,994 (
27,082)
27,097
-
27,097
812
( 23,585)
-
( 23,585) (
17,482)
722,409
-
722,409
201,574
1,249,722
1,694,360
2,944,082
3,496,142
3,131,161
1,824,596
4,955,757
6,898,721
45,191
-
45,191
50,464
182,846
-
182,846
160,445
213,515
-
213,515
180,558
( 638,107)
( 312,434)
( 950,541) (
966,100)
( 196,555)
( 312,434)
( 508,989) (
574,633)
2,631,401
-
2,631,401
-
( 4,701,580)
( 1,569,819)
( 6,271,399) (
7,368,995)
( 19,457)
-
( 19,457)
-
51,980
-
51,980
52,000
( 696,951)
-
( 696,951) (
656,417)
( 584,477)
-
( 584,477) (
800,717)
-
170,756
170,756
157,521
256,764
11,912
268,676
487,340
( 3,062,320) ( 1,387,151)
( 4,449,471) ( 8,129,268)
( 2,381,033)
- ( 2,381,033) (
6,149,004)
6,191,104
- 6,191,104
5,297,561
1,263,719
- 1,263,719
1,360,569
5,073,790
- 5,073,790
509,126
4,946,076 125,011
9,417,285 461,552
$14,363,361 $ 586,563
5,071,087 ( 1,296,054)
9,878,837 11,174,891
$14,949,924 $ 9,878,837
The accompanying Notes are an integral part of these financial statements.
8
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1990
Note 1 - DEFINING THE REPORTING ENTITY
In accordance with National Council on Governmental Accounting (NCGA)
Statement 3, which addresses the issue of defining the reporting entity
with respect to other agencies, institutions, commissions, public
authorities, or other government organizations for inclusion in the
reporting entity's general purpose financial statements, City of Wichita
Falls, Texas (City) management identified four organizations which were
evaluated for inclusion using the following criteria:
1. Exercise of oversight responsibility over such agencies by the city's
elected officials:
a. Financial interdependency
b. selection of governing authority
C. Designation of management
d. Ability to significantly influence operations and accountability
for fiscal matters.
2. Scope of public service:
a. whether the activity is for the benefit of the reporting entity
and/or its residents
b. whether the activity is conducted within the geographic boundaries
of the reporting entity and is generally available to the citizens
of that entity.
The four organizations evaluated were not involved in any joint ventures
with the city as defined by NCGA statement 7.
The organizations identified and evaluated for inclusion in the city's
financial statements were:
Employee Benefit Trust Fund
Based on the above criteria, the financial statements of the Employee
Benefit Trust Fund are included in the city's accompanying financial
statements as an expendable trust fund. on October 1, 1983, an
"Agreement and Declaration of Trust" was made and entered into between
the city and the Employee Benefit Trust Committee, acting as Trustee
to administer the Employee Benefit Trust. The Employee Benefit Trust
Committee consists of four Trustees selected by the City, who may, but
need not be, beneficiaries of the health and welfare program funded by
the Trust, and/or officers or employees of the City. The purpose of
the Employee Benefit Trust Fund is to provide health and welfare
benefits, which may include life, accidental death and dismemberment,
disability, medical and dental insurance, and any other benefits as
determined by the Trustee Committee. The Trust is funded through
contributions by the City and employees who choose to participate. It
may be terminated in writing, at any time, by either party.
9
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 1 - DEFINING THE REPORTING ENTITY (CONT'D.)
Firemen's Relief and Retirement Fund
The activities of the Firemen's Relief and Retirement Fund, in the
city's professional judgment, are not a part of the City and thus are
excluded from the accompanying financial statements. The Wichita Falls
Firemen's Relief and Retirement Fund is established and controlled
through various state of Texas legislative enactments. This Fund is
administered locally by a seven member board, independent of the City
Council. City management and the City Council do not influence or
control the administrative and financial affairs of the Fund, and the
assets of the Fund are not the property of the City. The seven member
Board of Trustees, composed of the Mayor and Director of Finance, three
firefighters elected by a majority vote of the firefighters and two
citizens, who are not employees or officers of the City and are chosen
by the unanimous vote of the first five Trustees, are subject to the
administrative supervision of and report to the State Firemen's Pension
Board.
Other orqanizations
other organizations not meeting the criteria used by the City for
inclusion in the city's financial statements include the following:
Housing Authority of the City of Wichita Falls
Wichita County/City Hospital Board
These organizations represent separate non-profit governmental units
and are not controlled by or dependent upon the City. They also did
not meet the criteria of financial interdependency, which is the most
significant manifestation of oversight and includes responsibility for
financing deficits, entitlements to surpluses, and guarantees of or
"moral responsibility" for debt.
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting and reporting policies of the City conform to generally
accepted accounting principles (GAAP) applicable to state and local
governments. Generally accepted accounting principles for local
governments include those principles prescribed by the Governmental
Accounting Standards Board (GASB), which includes all statements and
interpretations of the National Council on Governmental Accounting (NCGA)
unless modified by the GASB, and those principles prescribed by the
American Institute of Certified Public Accountants in the publication
entitled Audits of State and Local Governmental Units. The following is
a summary of the more significant policies and practices used by the City.
10
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Basis of Presentation
The accounts of the City are organized and operated on the basis of funds
or account groups, each of which is considered to be a separate fiscal and
accounting entity. The operations of each fund are accounted for with a
self -balancing set of accounts that comprise its assets, liabilities, fund
balances or retained earnings, revenues, and expenditures or expenses.
The various funds are grouped by category and type in the financial
statements. The City maintains the following fund classifications and
account groups:
Governmental Funds
Governmental funds are used to account for the relatively liquid
portion of the city's assets that are not accounted for through
proprietary or fiduciary funds, the short-term obligations pertaining
thereto, and the net balance of these financial resources available for
subsequent appropriation and expenditure.
General Fund - The General Fund is the general operating fund of the
City. This fund is used to account for all financial resources
except those required to be accounted for in another fund.
Special Revenue Funds - Special revenue funds are used to account
for the proceeds of specific revenue sources (other than expendable
trusts or major capital projects) that are legally restricted to
expenditures for specified purposes.
Debt Service Fund - The Debt Service Fund is used to account for the
accumulation of resources for, and the payment of, general long-term
debt principal, interest and related costs.
Capital Projects Funds - Capital projects funds are used to account
for financial resources to be used for the acquisition or
construction of major capital facilities (other than those financed
by proprietary funds).
Proprietary Funds
Proprietary funds are those used to account for the city's ongoing
organizations and activities which are similar to those found in the
private sector. The measurement focus is upon capital maintenance and
the determination of net income, financial position and cash flows.
11
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Proprietary Funds (Cont'd.)
Enterprise Funds - Enterprise funds are used to account for
operations (a) that are financed and operated in a manner similar
to private business enterprises where the intent of the governing
body is that the costs (expenses including depreciation) of
providing goods or services to the general public on a continuing
basis be financed or recovered primarily through user charges, or
(b) where the governing body has decided that periodic determination
of revenues earned, expenses incurred, or net income is appropriate
for capital maintenance, public policy, management control,
accountability or other purposes.
Internal Service Fund - The Internal Service Fund is used to account
for the financing of goods or services provided by one department
or agency to other departments or agencies of the City, or to other
governmental units, on a cost reimbursement basis.
Fiduciary Funds
Fiduciary funds are used to account for assets held by the City in a
trustee capacity or as an agent for other governmental units and/or
other funds. Trust and agency funds include expendable trust and
payroll, tax collection and accounts payable agency funds.
Expendable Trust Funds - These funds are accounted for in the same
manner as governmental funds.
Aqency Funds - These funds are purely custodial (assets equal
liabilities) and thus do not involve measurement of results of
operations.
Account Groups
Account groups are used to establish accounting control and
accountability for the City's general fixed assets and general long-
term liabilities. The following are the account groups maintained by
the City:
General Fixed Assets Group - This account group is established to
account for all fixed assets of the City other than those accounted
for in the proprietary funds.
General Lonq-Term Debt Group - This account group is established to
account for long-term liabilities of the City other than those
accounted for in the proprietary funds.
12
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Basis of Accountina
Basis of accounting refers to the time at which revenues and expenditures
or expenses are recognized in the accounts and reported in the financial
statements.
Governmental funds, expendable trust funds, and agency funds are accounted
for using the modified accrual basis of accounting. Under the modified
accrual basis of accounting, revenues are recognized when they become
measurable and available as net current assets. Available means
collectible within the current period or expected to be collected within
60 days after year end and be used to pay liabilities of the current
period. Expenditures are generally recognized under the modified accrual
basis of accounting when the related fund liability is incurred.
Exceptions to this general rule include unmatured principal and interest
on long-term obligations which are recognized when due. This exception
is in conformity with generally accepted accounting principles.
Property tax revenues and sales tax receipts are considered measurable and
available when collected by the respective intermediary collecting agency
and recognized as revenue at that time. Licenses and permits, fines and
forfeits, and miscellaneous revenues are recorded as revenues when they
are measurable and their validity seems certain. Investment earnings are
recorded on the accrual basis in all funds.
Capital improvement assessments are recorded as revenues in the fiscal
period when the assessment becomes both measurable and available to
finance expenditures of the fiscal period. Assessment revenues are
considered measurable and available when collected by the City and
recognized as revenue at that time. Payments for capital improvement
assessments received in advance of the levy are reflected as deferred
revenue.
Intergovernmental revenues are recorded on a basis applicable to the legal
and contractual requirements of the various individual grant programs.
Intergovernmental revenues are recognized as follows:
1. If monies must be expended on the specific purpose or project
before any amounts will be paid to the City, revenues are
recognized based upon the expenditures or expenses recorded.
2. If monies are virtually unrestricted and irrevocable, except for
failure to comply with prescribed compliance requirements, revenues
are recognized when received or susceptible to accrual.
Proprietary funds are accounted for using the accrual basis of accounting.
Under the accrual basis of accounting, revenues are recognized in the
13
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Basis of Accountinq (Cont'd.)
accounting period in which they are earned and become measurable.
Expenses are recorded in the accounting period incurred, if measurable.
Budget Policies
The City Council adheres to the following procedures in establishing the
budgets reflected in the financial statements:
1. Prior to the beginning of each fiscal year, the City Manager
submits to the city council a proposed budget for all City
departments, divisions and offices for the fiscal year beginning
on the following October 1. The operating budget which represents
the financial plan for the ensuing fiscal year includes proposed
expenditures and the means of financing them.
2. Public hearings are conducted at which all interested persons'
comments concerning the budget are heard.
3. The budget for the next fiscal year is legally enacted by the City
Council through passage of an ordinance by October 1 each year.
Additional appropriations were made during the year in the amount
of $3,507,569 which were passed and approved by the city council.
4. Expenditures may not legally exceed appropriations at the
department level for each legally adopted annual operating budget.
The City Manager may, without Council approval, transfer
appropriation balances from one expenditure account to another
within a department or agency of the City. The City council,
however, must approve any transfer of unencumbered appropriation
balances or portions thereof from one department or agency to
another. The reported budgetary data has been revised for
amendments legally authorized during the year.
5. Annual budgets are legally adopted for all governmental funds on
a basis consistent with generally accepted accounting principles.
However, the budgets for the capital projects funds are adopted for
specific projects, are not binding, and may exceed one year.
Accordingly, no comparison of budget to actual is presented in the
financial statements for these funds.
6. At the close of each fiscal year, any unencumbered appropriation
balances (appropriations including prior year encumbrances less
current year expenditures and encumbrances) lapse or revert to the
undesignated fund balance. The unencumbered appropriation balances
in the capital projects funds do not lapse at year end.
14
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other
commitments for the expenditure of monies are recorded in order to reserve
that portion of the applicable appropriation, is employed as an extension
of formal budgetary control in the general, special revenue, and capital
projects funds. Encumbrances outstanding at year end are reported as
reservations of fund balance for subsequent year expenditures and are
reappropriated in subsequent year budgetary accounts.
cash and Cash Equivalents
For purposes of the statement of cash flows, the City considers all highly
liquid investments (including restricted assets) with a maturity of three
months or less when purchased to be cash equivalents.
Investments
Investments are stated at cost, except for Deferred Compensation Fund
investments which are reported at market value.
Inventory
Inventories of the general and proprietary funds consist of supplies and
various materials used for the maintenance of fixed assets. The
consumption method is used to account for these inventories. Under this
method, inventory acquisitions are recorded in inventory accounts
initially and charged as expenditures when used. Inventories are stated
at average cost.
Plant and Equipment - Proprietary Funds
Plant and equipment owned by the proprietary funds are stated at
historical cost. Maintenance and repairs are charged to operations as
incurred, and improvements and betterments which extend the useful lives
of fixed assets are capitalized. Depreciation of plant and equipment is
provided by the straight-line method over the estimated useful lives of
the respective assets. Estimated useful lives for straight-line
depreciation are as follows:
Buildings, systems and improvements 20 - 59 years
Machinery, vehicles and other equipment 3 - 25 years
Furniture and equipment 3 - 10 years
when fixed assets of proprietary funds are sold, the sales proceeds less
the adjusted basis of the assets (initial cost less accumulated
depreciation) are recorded as a gain or loss.
15
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Plant and Equipment - Proprietary Funds (Cont'd.)
For proprietary fund fixed assets, interest is capitalized on construction
costs incurred during the year at an average interest rate on borrowed
funds (revenue bonds) in accordance with generally accepted accounting
principles.
No interest is capitalized on fixed assets constructed by proprietary
funds which are financed with general obligation bonds, because such
interest expenditures are reported in the Debt Service Fund.
For the fiscal year ending September 30, 1990, the city's proprietary
funds incurred a total of $1,807,921 of revenue bond interest costs. Of
this amount, $1,261,102 was capitalized on construction projects and
$546,819 was charged to expense.
Contributions of funds from Federal, State, or local grants restricted for
the purpose of purchasing plant and equipment are recorded as equity
contributions when received. The cost of water and sewer lines installed
by developers is valued by the contractor and recorded as contributed
capital in the water and sewer Fund. Depreciation on contributed assets
from Federal and state governments is recorded as an expense in the
statement of operations.
General Fixed Assets
General fixed assets are those assets acquired for general governmental
purposes. Assets purchased are recorded as expenditures in the
governmental funds and capitalized at historical cost in the General Fixed
Assets Account Group. Contributed fixed assets are recorded in general
fixed assets at estimated fair market value at the time received.
No depreciation has been provided on general fixed assets. No interest
is capitalized on fixed assets constructed which are financed with general
obligation bonds in accordance with generally accepted accounting
principles.
Public domain general fixed assets (infrastructure) consisting of certain
improvements other than buildings, including roads, bridges, curbs and
gutters, streets and sidewalks, and similar assets have not been
capitalized.
Federal and State Grants
Grants and shared revenues are generally accounted for within the
appropriate fund of the City to be financed by such grants or shared
revenues. Federal grants include Community Development Block Grant,
Section 8 Housing Assistance, and the Rental Rehabilitation Program.
16
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
Federal and State Grants (Cont'd.)
Each Federal grant is accounted for in a separate special revenue fund.
State grant revenues received for purposes normally financed through the
general government are accounted for within the General Fund.
Reserves and Designations
Portions of fund equity are segregated for future use, and are therefore
not available for future appropriation or expenditure. Amounts reserved
for revenue bond debt service and retirement represent portions of fund
equity which are required to be segregated in accordance with the city's
bond ordinances. Amounts reserved for inventory and prepaid items have
already been expended and represent a portion of the fund balance that is
not available for future expenditures. Amounts reserved for encumbrances
are commitments for materials and services on purchase orders and
contracts which are unperformed.
Designations of unreserved fund balances in governmental funds indicate
City management's tentative plans for use of financial resources in a
future period.
Transactions Between Funds
Transactions between funds that would be treated as revenues,
expenditures, or expenses if they involved organizations external to the
governmental unit are accounted for as revenues, expenditures, or expenses
in the funds involved. Transactions which constitute reimbursements to
a fund for expenditures or expenses initially made from that fund which
were properly applicable to another fund are recorded as expenditures or
expenses in the fund that is reimbursed.
Non -recurring or non -routine transfers of equity between funds are treated
as residual equity transfers and are reported as additions to or
deductions from the fund balance of governmental funds. Residual equity
transfers to proprietary funds are treated as contributed capital, and
such transfers from proprietary funds are reported as reductions of
retained earnings or contributed capital as appropriate in the
circumstances. All other transfers are treated as operating transfers and
are included in the results of operations of both governmental and
proprietary funds.
vacation and Sick Leave
All full-time employees accumulate vacation benefits based on length of
service up to 15 days per year. The maximum allowable accumulation is 30
days.
17
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D.)
vacation and Sick Leave (Cont'd.)
sick leave is earned at the rate of 4.62 hours per pay period up to a
maximum of ninety days. Upon leaving the employment of the City,
employees will be paid for unused vacation days which they have accrued.
Additionally, police officers and firefighters may accumulate an unlimited
number of sick leave days while employed with the City. Upon termination,
police officers and firefighters are compensated for up to ninety days of
sick leave.
Insurance
The city maintains a group health insurance plan for employees and
dependents which is self -insured by the City. A group life insurance plan
is maintained through an insurance company. contributions to the plans
are provided for by both the City and participating employees. These
contributions are recognized as revenues in the expendable trust fund used
to account for these plans. The contributions made by the City are
recorded as expenditures or expenses of the various funds as appropriate.
Comparative Data
Comparative data for the prior year has been presented in the accompanying
financial statements in order to provide an understanding of changes in
the city's financial position and operations. However, complete
comparative data (i.e., presentation of prior year totals by fund type)
has not been presented in each of the statements, since their inclusion
would make the statements unduly complex and difficult to read.
Reclassifications
Certain comparative data has been reclassified to present such amounts in
a manner consistent with the current year's financial statements.
Total Columns on Combined Financial Statements
Total columns on the combined financial statements are captioned
"Memorandum only" to indicate that they are presented only to facilitate
financial analysis. Data in these columns does not present financial
position, results of operations, or changes in financial position in
conformity with generally accepted accounting principles. such data is
not comparable to a consolidation. Interfund eliminations have not been
made in arriving at the totals.
18
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 3 - FUND DEFICITS
Enterprise Funds
At September 30, 1990, the Airport Fund had a deficit retained earnings
balance of $265,261. The intent of management is that this deficit be
recovered by transfers from other funds during future years.
At September 30, 1990, the Transit Fund had a deficit retained earnings
balance of $177,292. The intent of management is that this deficit also
be recovered by transfers from other funds during future years.
Internal Service Fund
At September 30, 1990, the Internal Service Fund had a deficit retained
earnings balance of $365,391. In the opinion of management, this deficit
will be recovered in future years by maintaining the current rates charged
for services rendered to other departments.
Note 4 - DEPOSITS AND INVESTMENTS
Deposits
All of the City's demand and time depository accounts are held in local
banking institutions under the terms of written depository contracts. At
September 30, 1990, the total amount of the City's demand and time
deposits per the general ledgers was ($1,052,010), and the total amount
per the City's September 30, 1990 bank statements was $58,129. The entire
amount of the year-end bank statement balances was covered by federal
depository insurance or by U.S. Government Securities held as collateral
by the City's agent in the City's name.
Investments
The City's investment policies are governed by State statutes. The City
is authorized to invest in obligations of the United States or its
agencies, obligations of the State of Texas or its agencies, commercial
paper rated A or its equivalent by a nationally recognized investment
rating firm, and repurchase agreements.
The City's investments are categorized below to give an indication of the
level of risk assumed by the entity at year end. Category 1 includes
investments that are insured or registered, or for which the securities
are held by the City or its agent in the City's name. Category 2 includes
uninsured and unregistered investments for which the securities are held
by the counterparty's trust department or agent in the City's name.
Category 3 includes uninsured and unregistered investments for which the
securities are held by the counterparty's safekeeping department, but not
in the City's name.
19
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 4 - DEPOSITS AND INVESTMENTS (CONT'D.)
Investments (Cont'd.)
Description
Public Funds
Investment Pool
U.S. Government
Securities
Repurchase
Agreements
Subtotal
Assets of Deferred
Compensation Fund
Total
Note 5 - PROPERTY TAXES
Cateqory Carrying Market
1 2 3 Amount value
$34,551,489 $ - $ - $34,551,489 $35,417,129
7,754,129 - - 7,754,129 8,006,855
95,000 - - 95,000 95,063
42,400,618 - - 42,400,618 43,519,047
N/A N/A N/A 998,555 998,555
$42,400,618 $ - $ - $43,399,173 $44,517,602
Property taxes attach as an enforceable lien on property as of the prior January
1. Taxes are levied on October 1, and become delinquent after January 31,
unless the half -payment option is elected, in which case one-half of the tax is
due November 30, and the balance the following June 30.
The City is permitted by its Home Rule Charter to levy taxes up to $2.25 per
$100 of assessed valuation for general governmental services including the
payment of principal and interest on long-term debt. The combined tax rate to
finance general governmental services for the year ended September 30, 1990 was
$.6479 per $100 which means that the City has a tax margin of $1.6021 per $100,
and could raise up to $36,834,814 additional tax revenue a year from the present
assessed valuation of $2,299,158,235 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
$2,756,664 and $2,834,523 at September 30, 1990 and 1989, respectively, and are
reflected in the Tax collection Fund in the agency fund group.
20
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 6 - RESTRICTED ASSETS - WATER AND SEWER FUND
Restricted assets in the Water and Sewer Fund, held for specific purposes in
accordance with bond ordinances or other legal restrictions, are comprised of the
following:
For Debt service:
Cash and
cash equivalents
$ 462,366
Investments
2,411,033
For Capital
Improvements:
Cash and
cash equivalents
3,600,671
Investments
150,000
Receivables
1,525,228
For Customer
Deposits:
cash and
cash equivalents
1,080,408
Total
$9,229,706
Note 7 - PLANT, EQUIPMENT AND DEPRECIATION
A summary of changes in
plant and equipment at September
30, 1990 is as follows:
Internal
General
Enterprise
Service
Fixed
Funds
Fund
Assets Total
Land and betterments
$ 24,598,680 $
433,658
$14,473,953 $ 39,506,291
Buildings and
improvements
74,891,068
4,008,948
14,117,353 93,017,369
Machinery and
equipment
2,751,638
-
4,508,340 7,259,978
Furniture and
fixtures
44,863
5,974
429,794 480,631
Motor vehicles and
equipment
3,670
16,157,802
56,861 16,218,333
Total plant and
equipment in service
102,289,919
20,606,382
33,586,301 156,482,602
Less accumulated
depreciation (
34,579,391) (
9,201,201)
- ( 43,780,592)
Net plant and
equipment in service
67,710,528
11,405,181
33,586,301 112,702,010
construction in
progress
5,650,573
-
- 5,650,573
Total
$ 73,361,101 $11,405,181
$33,586,301 $118„352,583
21
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 7 - PLANT, EQUIPMENT AND DEPRECIATION (CONT'D.)
A summary of changes in general fixed assets for the year ended September 30, 1990
is as follows:
Balance
Transfers
Balance
September 30,
and
September 30,
1989
Additions
Retirements
1990
Land and betterments
$14,418,475
$ 56,972
$ 1,494
$14,473,953
Buildings and
improvements
14,182,741
65,388
14,117,353
Machinery and equipment
3,695,289
863,292
50,241
4,508,340
Furniture and fixtures
440,047
2,608
12,861
429,794
Motor vehicles and
equipment
91,198
11,796
46,133
56,861
construction in
progress
648,983
3,209
652,192
-
Total
$33,476,733
$937,877
$828,309
$33,586,301
Note 8 - RETIREMENT PLANS
Texas Municipal Retirement System
Plan Description
The city provides pension benefits for substantially all of its full-time
employees, except firemen, through a nontraditional, joint contributory,
defined contribution plan in the state-wide Texas Municipal Retirement System
(TMRS). The city' s plan is one of over 500 administered by TMRS, an agent
multiple -employer public employee retirement system. The plans in TMRS are
substantially defined contribution plans, but have many of the characteristics
of defined benefit plans. Therefore, additional voluntary disclosures are
provided to help foster a better understanding of the nontraditional
characteristics of the plan.
Benefits depend upon the sum of the employee's contributions to the plan, with
interest, and the city -financed monetary credits, with interest. At the date
the plan began, the City granted monetary credits for service rendered before
the plan began of a theoretical amount equal to two times what would have been
contributed by the employee, with interest, prior to establishment of the plan.
Monetary credits for service since the plan began are 200% of the employee's
accumulated contributions. At retirement, the benefit is calculated as if the
sum of the employee's accumulated contributions with interest and the employer -
financed monetary credits with interest were used to purchase an annuity.
22
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 8 - RETIREMENT PLANS (CONT'D.)
Texas Municipal Retirement Svstem (Cont'd.)
Plan Description (Cont'd.)
Members can retire at ages 60 and above with 15 or more years of
service, at ages 50-59 with 25 or more years of service, or with 28
years of service regardless of age. The plan also provides death and
disability benefits. A member is vested after 20 years, but must leave
his accumulated contributions in the plan. If a member prematurely
withdraws his own money, he is not entitled to the employer -financed
monetary credits even if vested. The plan provisions are adopted by
the City within the options and actuarial constraints detailed in the
state statutes governing TMRS.
Fundinq Status and Proqress
Even though the substance of the City's plan is not to provide a
defined benefit in some form, some additional voluntary disclosure is
appropriate due to the nontraditional nature of the City's defined
contribution plan which had an initial unfunded pension benefit
obligation upon the plan's inception. The pension benefit obligation
shown on page 27 is similar in nature to the standardized disclosure
measure required by Governmental Accounting standards Board (GASB)
Statement 5 for defined benefit plans, except that there is no need to
project salary increases since the benefit credits earned for service
to date are not dependent upon future salaries. This measure is the
actuarial present value of credited projected benefits and is intended
to help users assess the public employee retirement system's funding
status on a going concern basis, assess progress being made in
accumulating sufficient assets to pay benefits when due, and allow for
comparisons among public employee retirement plans. The calculations
were made as part of the annual actuarial valuation as of December 31,
1989 and, therefore, all plan disclosures have been presented on a
twelve month calendar year basis. Because of the money purchase nature
of the plan, the interest rate assumption, currently 8.5% per year,
does not have as much impact on the results as it does for a defined
benefit plan. The book value of assets is amortized cost for bonds and
original cost for short-term securities and stocks. The market value
of assets is not determined for each individual city's plan, but the
market value of assets for TMRS as a whole was 108.7% of book value as
of December 31, 1989.
Contributions Required and Contributions Made
The contribution rate for all employees, except policemen, is 5%.
Policemen contribute 7% to the plan. Under state laws governing TMRS,
the city's contribution rate is annually determined by an actuary.
Part of the city's contribution rate (the normal cost) is to fund the
23
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 8 - RETIREMENT PLANS (CONT'D.)
Texas Municipal Retirement Svstem (Cont'd.)
Contributions Reauired and Contributions Made (Cont'd.)
currently accruing monetary credits, with the other part (the prior
service contribution rate) calculated as the level percent of payroll
needed to amortize the unfunded actuarial liability over the remainder
of the plan's 25-year amortization period. when the city periodically
adopts updated service credits and increases the annuities in effect,
the increased unfunded actuarial liability is to be amortized over a
new 25-year period. Currently, the unfunded actuarial liability is
being amortized over the 25-year period which began January, 1990. The
unit credit actuarial cost method is used for determining the city's
contribution rate. Contributions are made monthly by both the
employees and the City. Since the City needs to know its contribution
rate in advance to budget for it, there is a one-year lag between the
actuarial valuation that is the basis for the rate and the calendar
year when the rate goes into effect.
The city's total payroll for the calendar year 1989 was $22,197,002,
and the city's contributions were based on a covered payroll of
$17,737,825. Both the city and the covered employees made the required
contributions for the calendar year 1989, amounting to $1,080,234
(6.09% of covered payroll) by the City and $972,959 (5.49% of covered
payroll) by the employees. The City adopted changes in the plan since
the previous actuarial valuation, which had the effect of increasing
the city's contribution rate for calendar year 1990 by 0.01% of
payroll. There are no securities of the City or related parties
included in the plan's assets.
Trend Information
Trend information gives an indication of the progress made in
accumulating sufficient assets to pay benefits when due. Ten-year
trend information may be found on pages 40-41 of the City's
comprehensive annual financial report. For the three plan years ended
December 31, 1987, 1988, and 1989, respectively, available assets were
sufficient to fund 80.5, 83.8, and 83.8 percent of the pension benefit
obligation. Unfunded pension benefit obligation represented 32.9,
27.5, and 29.7 percent of the annual payroll for employees covered by
the plan for the three years ended December 31, 1987, 1988, and 1989,
respectively. Showing unfunded pension benefit obligation as a
percentage of annual covered payroll approximately adjusts for the
effects of inflation for analysis purposes. In addition, for the three
years ended December 31, 1987, 1988, and 1989, the City's contributions
to the plan, all made in accordance with actuarially determined
requirements, were 5.96, 6.11, and 6.09 percent, respectively, of
annual covered payroll.
24
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTE14BER 30, 1990
Note 8 - RETIREMENT PLANS (CONT'D.)
Firemen's Relief and Retirement Fund
Plan Description
The City provides pension benefits for all of its firemen through a
contributory, defined benefit plan. The Firemen's Relief and
Retirement Fund (the Fund) operates under an act passed in 1937 by the
Texas State Legislature and adopted by the City's firemen.
Benefits are determined on a "formula" or a "final salary" plan. A
fireman who qualifies for a retirement benefit will receive monthly
retirement equal to 1.90% of his highest 24 month average salary
multiplied by his years of service.
Members can receive a service retirement at ages 55 and above with 20
or more years of service. Members are eligible for actuarially reduced
early retirement benefits beginning at age 50, provided the employee
has accrued at least 20 years of service. The plan also provides death
and disability benefits. Members who terminate their service and are
non -vested are entitled to the excess of the member's contributions
over any benefits previously received.
Funding status and Progress
The amount shown on page 27 as the pension benefit obligation is a
standardized disclosure measure of the present value of pension
benefits, adjusted for the effects of projected salary increases,
estimated to be payable in the future as a result of employee service
to date. The measure is intended to help users assess the funding
status of the system on a going -concern basis, assess progress made in
accumulating sufficient assets to pay benefits when due, and make
comparisons among employers. The measure is the actuarial present
value of credited projected benefits, and is independent of the
actuarial funding method used to determine contributions to the system.
The pension benefit obligation was computed as part of an actuarial
update performed as of April 30, 1990. significant actuarial
assumptions used in the valuation update include (a) a rate of return
on the investment of present and future assets of 8% a year, (b)
projected salary increases of 6% per year compounded annually
attributable to inflation, (c) additional projected salary increases
which average approximately 1% per year, attributable to merit,
promotion, and longevity and (d) no post -retirement benefit increases.
The study concluded that the Fund, based on the existing levels of
benefits and contributions, had an adequate financing arrangement. The
market value of assets as of September 30, 1990 was $10,627,654.
25
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 8 - RETIREMENT PLANS (CONT'D.)
Firemen's Relief and Retirement Fund (Cont'd.)
Contributions Required and Contributions Made
Contribution requirements are not actuarially determined, however,
state law requires that each plan of benefits adopted by the Fund must
be approved by a qualified actuary. This valuation, using the entry
age actuarial cost method, determined that contributions at the rates
then in existence (9.0% for firemen and 9.0% by the City) would
amortize the unfunded liability, assuming annual payroll increases of
6%, in approximately 29 years from April 30, 1989, as well as pay
normal costs of present benefits.
Contributions are made to the Fund by the City at the rate of 9.0% of
the firemen's gross pay. Firemen also contribute 9.0% of their gross
pay to the Fund. For the plan year ended December 31, 1989, the total
and covered payroll was $3,774,905, resulting in contributions of
$341,956 (9.0% of covered payroll) by the City and $339,741 (9.08 of
covered payroll) by the firemen. There are no securities of the city
or related parties included in the Fund's assets.
Trend Information
Trend information gives an indication of the progress made in
accumulating sufficient assets to pay benefits when due. Trend
information for all available years may be found on pages 42-43 of the
city's comprehensive annual financial report. Civil Statutes of the
State of Texas currently permit the Board of Trustees to employ an
actuary no more than once every two years and pay his compensation out
of the Fund. The most recent actuarial valuation was as of April 30,
1989. An actuarial update to this valuation was performed as of April
30, 1990. For the three years ended April 30, 1988, 1989 and 1990,
respectively, which is the latest obtainable information, available
assets were sufficient to fund 77.6%. 79.4% and 78.9% of the pension
benefit obligation. unfunded pension benefit obligation represented
68.4%, 61.1% and 65.9% of the annual payroll for employees covered by
the Fund for the plan years ended December 31, 1987, 1988 and 1989.
showing unfunded pension benefit obligation as a percentage of annual
covered payroll approximately adjusts for the effects of inflation for
analysis purposes. In addition, for the three plan years ended
December 31, 1987, 1988 and 1989, the City's contributions to the Fund,
all made in accordance with actuarially determined requirements, were
9.0%, 9.0% and 9.0%, respectively, of annual covered payroll.
26
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 8 - RETIREMENT PLANS (CONT'D.)
Actuarial Present Value of Benefits
Total unfunded pension benefit obligation applicable to the city's employees as
of the most current actuarial valuation date is as follows:
Date of last valuation or
valuation update
Pension benefit obligation:
Retirees and beneficiaries
receiving benefits and terminated
employees not yet receiving
benefits
current employees:
Accumulated employee
contributions including
allocated invested earnings
Employer -financed vested
Employer -financed nonvested
Total pension benefit obligation
Net assets available for
benefits, at book value
Unfunded pension benefit
obligation
Note 9 - DEFERRED COMPENSATION PLAN
Texas
Municipal Firemen's
Retirement Relief and
Svstem Retirement
December 31, April 30,
1989 1990
Total
(Memorandum
Onlv)
$ 3,267,649 $ 5,444,369 $ 8,712,018
11,583,647
2,529,128
14,112,775
9,754,666
2,935,725
12,690,391
7,932,546
861,138
8,793,684
32,538,508
11,770,360
44,308,868
27,272,637
9,281,696
36,554,333
$ 5,265,871 $ 2,488,664 $ 7,754,535
The city offers its employees a deferred compensation plan created in accordance
with Internal Revenue Code section 457. The plan, available to all City
employees, permits them to defer a portion of their salary until future years.
The deferred compensation is not available to the employees until termination,
retirement, death, or an unforeseen emergency.
All amounts of compensation deferred under the plan, all investments purchased,
and all income attributable to these investments are (until paid or made
available to the employee or other beneficiary) solely the property of the City
subject only to the claims of the city's general creditors. Participants'
rights under the plan are equal to those of general creditors of the City in an
amount equal to the fair market value of their deferred account.
27
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 9 - DEFERRED COMPENSATION PLAN (CONT'D.)
It is the opinion of City management that the City has no liability for
losses under the plan, but does have the duty of due care that would be
required of an ordinary prudent investor. It is also the opinion of City
management that it is unlikely that it will use the assets to satisfy the
claims of general creditors in the future.
Note 10 - PAYABLE TO U.S. GOVERNMENT
The City of Wichita Falls and Wichita County Water Improvement District
No. 2, upon the completion of the Lake Kemp reconstruction project in
January, 1976 by the U.S. Government, are required to reimburse the U.S.
Government 22.7% of its reported total cost of $8,774,705, or $1,991,858.
The City's share of this amount is 66.11%, or $1,316,817, payable in
forty-nine annual installments through January, 2004 of $51,974, which
includes interest at the rate of 3.253%.
The City's share of the total costs ($5,800,957) is reflected in fixed
assets, and the City's share of the U.S. Government funded portion
($4,484,140) is reflected as contributed capital in the Water and Sewer
Enterprise Fund.
This contractual arrangement is strictly a cost -sharing agreement and is
not considered a joint venture as defined by NCGA Statement 7.
The remaining debt payable to the U.S. Government is classified as
follows:
September 30,
1990 1989
Long-term $1,059,672 $1,076,623
Current portion in other
liabilities 16,951 16,417
Total
Note 11 - AIRPORT LEASE
$1„076,623 1 093,040
The airport facilities are located on land at Sheppard Air Force Base.
The land is leased from the Department of the Air Force at a cost of $1.00
per year for a period of fifty years, beginning May 15, 1959 and expiring
May 14, 2009. Additional rent is based on landing fees at a rate of
$1.8264 per scheduled landing. Landing fees collected and paid on this
lease were $9,921 and $10,372 for the fiscal years ended September 30,
1990 and 1989, respectively.
28
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 12 - DESCRIPTION OF LEASING ARRANGEMENTS
The City has entered into a land lease expiring in 1991 and three copier
leases expiring in 1994 which are classified as capital leases and are
included in the General Fixed Asset and the General Long -Term Debt account
groups.
The majority of the operating leases contain the option for annual renewal
at the end of the initial lease term. In most cases, leases will be
canceled or replaced by other leases. The City leases certain equipment
and data processing software under operating leases expiring at varying
times through 1991.
Capital Leases
The following is an analysis of the leased property under capital leases
by major classes:
Classes of Propertv
Land
Equipment
Total
Asset Balances at
September 30,
1990 1989
$ 50,000 $ 50,000
77,240 77,240
$127,240 $127,240
The following is a schedule by years of future minimum lease payments
under capital leases and the corresponding present value of the net
minimum lease payments as of September 30, 1990:
Year ending September 30:
1991
1992
1993
1994
1995
Total minimum lease payments
Less: Amount representing interest
Present value of minimum lease
payments (1)
$ 21,371
16,371
16,371
14,769
68,882
2,256
$ 66,626
29
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 12 - DESCRIPTION OF LEASING ARRANGEMENTS (CONT'D.)
Operatinq Leases
The following is a schedule by years of future minimum rental payments
required under operating leases that have initial or remaining
noncancellable lease terms in excess of one year as of September 30, 1990:
Year ending September 30:
1991
$ 11,843
1992
9,448
1993
6,100
1994
6,100
1995
1
Later years
13
Total minimum payments required (2) $ 33,505
The following schedule shows the composition of total rental expenses for
all operating leases:
Minimum rentals
Contingent rentals
Total rentals
Year Ending
September 30,
1990 1989
$132,582 $121,226
9,921 10,372
$142,503 $131,598
(1) Reflected in the general long-term debt account group as capital
leases payable.
(2) Minimum payments do not include contingent rentals which may be paid
under the airport lease based on the number of scheduled landings.
Note 13 - LONG-TERM DEBT
The following is a summary of changes in long-term obligations of the City
for the year ended September 30, 1990:
30
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 13 - LONG-TERM DEBT (CONT'D.)
obligations obligations
outstanding New obligations outstanding
October 1, obligations Retired September 30,
1989 Incurred or Refunded 1990
General Obligation Bonds
payable
$20,995,000 $
- $
670,000
$20,325,000
Revenue Bonds payable
22,835,000 2,631,401
640,000
24,826,401
Accrued vacation and
sick leave (Note 18)
3,084,558
162,187
-
3,246,745
capital leases payable
(Note 12)
86,455
-
19,829
66,626
Claims and judgments
payable (Note 18)
97,664
-
9,828
87,836
Payable to U.S. Govt.
(Note 10)
1,093,040
-
16,417
1,076,623
Total
$48,191,717 $2,793,588
$1,356,074
$49,629,231
Bonds payable at September 30, 1990 are
comprised of
the following individual
issues:
Range of Final
Annual
Bonds
Interest Maturity
serial
Bonds
outstanding
Rates Date
Pavments
Authorized at 9/30/89
General obligation Bonds:
1986 General obligation
Refunding Bonds
5.00% - 9/01/06
$305,000 to
$22,540,000 $20,325,000
8.15%
2,115,000
Revenue Bonds:
Water and Sewer
Revenue Bonds:
1986 Water and
Sewer System
Refunding
Revenue Bonds 5.00% - 8/01/07 395,000 to 24,405,000 22,195,000
8.30% 2,265,000
1990-A, 1990-B and
1990-C Water and
Sewer subordinate
Lien Revenue Bonds 5.50% - 8/01/00 146,401 to 26,210,000 2,631,401
7.72% 415,000
Total All Bonds
$73,155,000 $45,151,401
31
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 13 - LONG-TERM DEBT (CONT'D.)
The 1986 General obligation Bonds were issued on the full faith and credit of the
city and are secured by ad valorem taxes levied against all taxable property.
These bonds are serviced by the Debt Service Fund with an apportionment of the ad
valorem tax levy. At September 30, 1990, $694,935 was available in this fund to
service these bonds.
The 1986 and 1990-A Water and Sewer Revenue Bonds were issued for purposes of
improving the city's water and sewer systems and are serviced by the net revenues
of the water and Sewer Fund.
There are a number of limitations and restrictions contained in the various bond
indentures. The City is in compliance with all significant provisions for such
limitations and restrictions.
The city's current year payments for debt service of general obligation bonds and
revenue bonds included $3,390,362 of interest.
The annual requirements to pay principal and interest on the bond obligations
outstanding as of September 30, 1990 are as follows:
Year Ending
General
Obligation
Revenue
September 30:
Principal
Interest
Principal
Interest
Total
1991
$ 710,000
$ 1,575,615
$ 680,000 $
1,892,102
$ 4,857,717
1992
755,000
1,531,240
725,000
1,872,955
4,884,195
1993
805,000
1,482,165
1,075,000
1,822,205
5,184,370
1994
860,000
1,427,827
1,150,000
1,749,905
5,187,732
1995
920,000
1,367,627
1,230,000
1,670,790
5,188,417
1996-2000
5,745,000
5,690,858
7,311,401
6,894,877
25,642,136
2001-2005
8,415,000
3,014,223
8,300,000
3,962,708
23,691,931
2006-2007
2,115,000
172,373
4,355,000
549,460
7,191,833
Total $20_,325,000 $16,261,928 $24,,826,,4,01. $20,415,002 §81,828,331
Note 14 - DEFEASANCE OF PRIOR DEBT
In prior years, the City defeased certain outstanding general obligation and
revenue bonds by placing the proceeds of new bonds and additional cash in an
irrevocable trust to provide for all future debt service payments on the old bonds.
Accordingly, the trust escrow accounts and the defeased bonds are not included in
the city's financial statements. At September 30, 1990, the following outstanding
bonds are considered defeased:
32
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 14 - DEFEASANCE OF PRIOR DEBT (CONT'D.)
Amount
General
Obligation Bonds:
1971
General Obligation Bonds
$ 125,000
1980
General Obligation Bonds
2,200,000
1981
General obligation Bonds
2,850,000
1982
General Obligation Bonds
1,600,000
1985
General obligation Refunding
and
Improvement Bonds
17,560,000
Total Defeased General Obligation Bonds
24,335,000
Revenue
Bonds:
1966
Water and Sewer Revenue Bonds
75,000
1966-A water and Sewer Revenue Bonds
75,000
1973
Water and Sewer Revenue Bonds
300,000
1978
water and Sewer Revenue Bonds
480,000
1980
Water and Sewer Revenue Bonds
550,000
1981
Water and Sewer Revenue Bonds
600,000
1982
water and Sewer Revenue Bonds
470,000
1984
Water and Sewer Revenue Bonds
17,385,000
Total Defeased Revenue Bonds
19,935,000
Total Defeased Bonds
144,270,000
Note 15 - INDIVIDUAL FUND DISCLOSURES
Interfund receivable and payable balances at September 30,
1990 are as follows:
Interfund
Interfund
Receivables
Pavables
General
Fund $538,038
$ -
Special Revenue Funds:
Community Development Block
Grant Fund - 133,237
Rental Rehabilitation Program
Fund - 4,365
Hotel/Motel Tax Fund - 52,183
Enterprise Fund:
Transit Fund - 348,253
Total $538,038 $538,038
33
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 15 - INDIVIDUAL FUND DISCLOSURES (CONT'D.)
operating transfers between funds during the year were as follows:
operating Operating
Transfer In Transfer Out
General Fund
$ 950,541
$ 213,515
Special Revenue Funds:
civic/Community Promotion
Fund
246,862
-
Hotel/Motel Tax Fund
-
246,862
Enterprise Funds:
Transit Fund
213,515
-
Sanitation Fund
-
380,692
Water and Sewer Fund
-
257,415
Internal Service Fund
-
312,434
Total
$1,410,918
$1,410,918
34
w
Ul
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 16 - SEGMENT INFORMATION FOR ENTERPRISE FUNDS
The city maintains four enterprise funds which provide transportation, sanitation, water and sewer services.
Segment information for the year ended September 30, 1990 is as follows:
operating revenues
Depreciation and amortization
operating income (loss)
contributions from operating grants
Operating transfers:
In
out
Net income (loss)
Current capital:
contributions
Plant and equipment:
Additions
Deletions
Net working capital
Total assets
Bonds and other long-term liabilities
Total equity
Total
Water
Enterprise
Airport
Transit
Sanitation
and Sewer
Funds
$ 233,206
$ 147,976
$5,336,392
$12,737,292
$18,454,866
90,911
14,506
59,080
1,802,755
1,967,252
( 19,479)
( 410,867)
51,743
2,260,042
1,881,439
-
182,846
-
-
182,846
-
213,515
-
-
213,515
-
-
380,692
257,415
638,107
6,467
( 14,506)
( 143,533)
2,519,658
2,368,086
-
-
-
256,764
256,764
2,934
-
-
4,698,646
4,701,580
-
-
-
25,112
25,112
234,242
( 26,294)
2,585,843
7,962,656
10,756,447
2,082,323
1,012,906
5,538,056
86,750,233
95,383,518
-
-
-
26,286,481
26,286,481
2,012,124
641,453
5,178,784
57,877,975
65,710,336
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 17 - CONTRIBUTED CAPITAL - PROPRIETARY FUNDS
During the year ended September 30, 1990, contributed capital in the City's proprietary funds increased by
the following amounts:
Total
Water
Internal
Proprietary
Source
Airport Transit Sanitation and Sewer
Service
Funds
Government - fixed assets
$ - $ - $ - $ 43,654
$ 11,912
$ 55,566
Developers - fixed assets
- - - 213,110
-
213,110
Total additions
- - - 256,764
11,912
268,676
Contributed capital,
rn October 1, 1989
2,277,385 818,745 2,907,626 16,155,947
12,376,706
34,536,409
Contributed capital,
September 30, 1990
$2,277,385 $818,745 $2,907,626 $16,412,711
$12,388,618
$34,805,085
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 18 - COMMITMENTS AND CONTINGENCIES
Litiqation
The City is a defendant in numerous lawsuits. The ultimate liability of
the City cannot be determined at this time, although City management
believes such liability will not materially affect the financial position
of the City.
Accrued Vacation and Sick Leave
The City's liability for accrued vacation and sick leave excluding the
amount recorded in the enterprise funds was $3,346,745 at September 30,
1990. This accrual is recorded in the General Long -Term Debt account
group, except for $100,000 which is believed by City management to be
currently payable from available resources and is recorded in the General
Fund.
Post -Retirement Health Care and Life Insurance Benefits
In addition to providing pension benefits, the City provides certain
health care and life insurance benefits for retired employees.
Substantially all of the city's employees may become eligible for those
benefits if they reach normal retirement age while working for the city.
The cost of retiree health care is paid for by the retirees. The cost of
life insurance benefits is funded jointly by the City and the retirees.
The city's portion of these costs is recognized as expense when paid. For
the fiscal year ended September 30, 1990, these costs totaled $5,888.
Workmen's Compensation Claims
The City is liable for workmen's compensation claims arising in various
General Fund departments of $87,836 as of September 30, 1990. This amount
is recorded as a liability in the General Long -Term Debt account group.
Contract Commitment With West Texas Utilities Company
In 1977, the City and Wichita County Water Improvement District Number 2
entered into a sixty -year contract with the West Texas Utilities Company
(company) and agreed to provide an adequate water supply for the Company's
use in generating power upon completion of the company's construction of
a power plant adjacent to the Lake Kemp -Lake Diversion System.
The significant terms of the contract provide for standby charges to be
paid to the City and the Wichita county water Improvement District Number
2 in equal amounts. Minimum annual charges began on January 1, 1987, and
shall continue as follows:
37
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 18 - COMMITMENTS AND CONTINGENCIES (CONT'D.)
Contract Commitment With West Texas Utilities Companv (Cont'd.)
city,S
Years Ending December 31: Annual Share
1990-1991
1992-1996
$250,000
375,000
1997 and all years thereafter
until end of contract 500,000
For water actually consumed, the Company shall pay the City and Wichita
County Water Improvement District Number 2 equally, at the base rate of
twenty-three ($.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 minimum charges which would have become
due and payable during the following twenty-four month period.
Contract Commitment With Army Corps of Engineers
on June 13, 1987, the City entered into a construction contract with the
Army Corps of Engineers to provide flood protection to the City of Wichita
Falls and surrounding vicinity. This flood protection is to be attained
by increasing the flood control capabilities in the Holliday Creek area
and by modifying the existing Lake Wichita Dam. As of September 30, 1990,
the total project costs under this contract were estimated to be
$48,304,000. The City must provide a 5 percent cash contribution in
proportion to the rate of certain federal expenditures incurred during the
construction period. This required contribution is presently estimated
to be $2,146,000. Additionally, the City must provide all land,
easements, rights -of -way, and waste material disposal areas, and perform
all relocations necessary to complete the project. If the value of the
above -mentioned contributions is determined to be less than 25 percent of
the total project costs, the City must make an additional cash
contribution to make its total contribution equal to 25 percent of the
total project costs. The City has incurred a total of $8,295,000 in
project costs as of September 30, 1990. The City is also responsible for
the estimated $2,837,556 of costs necessary to modify the existing Lake
Wichita Dam. These projects are estimated to be completed during the
fiscal year ending September 30, 1993.
38
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1990
Note 18 - COMMITMENTS AND CONTINGENCIES (CONT'D.)
Construction Contracts
At September 30, 1990, the City was committed to several long-term
construction contracts, but has not accrued or incurred any expenditures
or expenses as the work has not yet been performed. The amounts for which
the various funds are committed to complete these contracts are as
follows:
General Fund $ 660,635
special Revenue Funds:
Community Development Block
Grant Fund $ 12,860
Miscellaneous Special Revenue
Fund 36,871
Total Special Revenue Funds 49,731
Capital Projects Funds:
1980
General Improvements
404,853
1981
C.O. General Improvements
359,200
1981
G.O. General Improvements
1,524,000
1982
General Improvements
462,150
1985
Holliday Creek Project
2,452,554
Total Capital Projects Funds
5,202,757
Enterprise Funds:
Sanitation Fund 334,672
Water and Sewer Fund 1,996,915
Total Enterprise Funds 2,331,587
Total contract commitments $8,244,710
Federally Assisted Programs - Compliance Audits
The City participates in numerous Federally assisted programs, on both a
direct and state pass -through basis, as well as on a service -provider
basis. Principal among these are Community Development Block Grants,
section 8 Housing Assistance, and the Rental Rehabilitation Program.
In connection with these programs, the City is required to comply with
specific terms and agreements as well as applicable Federal and State laws
and regulations. Such compliance is subject to review and audit by the
grantors and their representatives.
In the opinion of management, the City has complied with all requirements.
However, since such programs are subject to future audit or review, the
possibility of disallowed expenditures exists. In the event of any
disallowance of claimed expenditures, the City expects the resulting
liability to be immaterial.
39
REQUIRED
SUPPLEMENTARY
INFORMATION
wichl
TEXAS i
41
0
EXHIBIT B-1
CITY OF WICHITA FALLS, TEXAS
TEXAS MUNICIPAL RETIREMENT SYSTEM - ANALYSIS OF FUNDING PROGRESS -
LAST TEN PLAN YEARS (UNAUDITED)***
(6)
(4)
Unfunded Pension
(1)
(3)
Unfunded
(5)
Benefit obligation
Net Assets
(2)
Percentage
Pension Benefit
Annual
as a Percentage
Plan
Available
Pension Benefit
Funded
obligation
covered
of covered Payroll
Year
For Benefits*
obligation
(1) + (2)
(2) - (1)
Payroll
(4) + (5)
1980
$ 8,608,043
$ 9,472,370
90.9%
$ 864,327
$10,770,238
8.0%
1981
10,076,953
10,893,004
92.5%
816,051
11,865,120
6.9%
1982**
11,239,691
12,816,960
87.7%
1,577,269
13,340,527
11.8%
1983
12,944,791
15,224,110
85.0%
2,279,319
13,882,452
16.4%
1984
14,902,005
18,130,886
82.2%
3,228,881
14,185,255
22.8%
1985
17,136,495
21,280,661
80.5%
4,144,166
15,040,953
27.6%
1986
19,097,798
23,567,091
81.0%
4,469,293
15,593,759
28.7%
1987
21,932,183
27,236,608
80.5%
5,304,425
16,147,248
32.9%
1988
24,462,797
29,184,181
83.8%
4,721,384
17,148,324
27.5%
1989
27,272,637
32,538,508
83.8%
5,265,871
17,737,825
29.7%
Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded
pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as
a percentage of the pension benefit obligation provides one indication of the city's funding status on a going -
concern basis. Analysis of this percentage over time indicates whether the system is becoming financially
stronger or weaker. Generally, the greater this percentage, the stronger the pension plan. Trends in unfunded
pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded
pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of
inflation and aids analysis of the city's progress made in accumulating sufficient assets to pay benefits when
due. Generally, the smaller this percentage, the stronger the pension plan.
* At book value (see Note 8.)
** During 1982, plan benefit provisions were amended to retroactively increase prior service credits. This
amendment had the effect of increasing the pension benefit obligation in 1982 by approximately $537,000.
*** This city retirement plan is substantially a defined contribution plan. These voluntary disclosures, similar
to the disclosures required for a defined plan, are provided for additional analysis of the plan.
EXHIBIT B-2
CITY OF WICHITA FALLS, TEXAS
TEXAS MUNICIPAL RETIREMENT SYSTEM - REVENUES BY SOURCE AND EXPENSES BY TYPE -
LAST TEN PLAN YEARS (UNAUDITED)**
Employer
Contributions
as Percentage
Revenues By
Source
Plan
of Annual
Employer
Employee
Investment
Year
Covered Pavroll
Contributions
Contributions
Income
Total
1980
4.62%
$ 497,585
$591,618
$ 624,517
$1,713,720
1981
4.59%
544,609
654,082
867,441
2,066,132
1982*
4.55%
606,994
739,073
1,031,285
2,377,352
1983
4.73%
656,640
775,615
1,206,394
2,638,649
1984
5.10%
723,448
793,676
1,419,569
2,936,693
1985
5.35%
804,691
834,538
1,622,861
3,262,090
1986
5.80%
904,438
864,846
1,857,101
3,626,385
1987
5.96%
962,376
894,829
2,101,277
3,958,482
1988
6.11%
1,047,763
939,886
2,461,316
4,448,965
1989
6.09%
1,080,234
972,959
2,673,781
4,726,974
Expenses By Tvpe
Aggregate
Plan Benefit Administrative
Year Payments Expenses Refunds Total
1980
$ 263,819
$ 16,377
$264,782
$ 544,978
1981
237,588
16,493
343,141
597,222
1982*
910,303
17,378
286,933
1,214,614
1983
703,210
19,245
211,094
933,549
1984
631,278
18,546
329,655
979,479
1985
587,421
19,884
420,295
1,027,600
1986
1,298,373
19,814
346,895
1,665,082
1987
787,769
20,653
315,675
1,124,097
1988
1,535,680
20,067
362,604
1,918,351
1989
1,502,643
19,016
395,475
1,917,134
Contributions were made in accordance with actuarially -determined contribution
requirements.
* See note on page 40 for a discussion of the 1982 change in employee benefit
provisions.
** This City retirement plan is substantially a defined contribution plan. These
voluntary disclosures, similar to the disclosures required for a defined benefit
plan, are provided for additional analysis of the plan.
41
EXHIBIT B-3
CITY OF WICHITA FALLS, TEXAS
FIREMEN'S RELIEF AND RETIREMENT FUND - ANALYSIS OF FUNDING PROGRESS (UNAUDITED)***
(6)
(4)
Unfunded Pension
(1)
(3)
Unfunded
(5)
Benefit obligation
Net Assets
(2)
Percentage
Pension Benefit
Annual
as a Percentage
valuation
Available
Pension Benefit
Funded
obligation
Covered
of Covered Payroll
Date
For Benefits*
Obliqation
(1) + (2)
(2) - (1)
Payroll
(4) + (5)
4/30/88
$8,176,505
$10,534,610
77.6%
$2,358,105
$3,447,967
68.4%
4/30/89
8,473,929
10,676,806
79.4%
2,202,877
3,608,223
61.1%
4/30/90**
9,281,696
11,770,360
78.9%
2,488,664
3,774,905
65.9%
r Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded
N pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as
a percentage of the pension benefit obligation provides one indication of the City's funding status on a going -
concern basis. Analysis of this percentage over time indicates whether the system is becoming financially stronger
or weaker. Generally, the greater this percentage, the stronger the pension plan. Trends in unfunded pension
benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension
benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation
and aids analysis of the City's progress made in accumulating sufficient assets to pay benefits when due.
Generally, the smaller this percentage, the stronger the pension plan.
* At book value (See Note 8.)
** During 1990, the plan was amended to increase standard retirement benefits from 1.63% to 1.90% of the
fireman's average salary multiplied by years of service. This amendment increased the pension benefit
obligation as of April 30, 1990 by approximately $314,000.
*** Historical trend information is presented for as many years as such information about the plan is available.
Additional historical trend information will be disclosed in future periods as it becomes available.
EXHIBIT B-4
CITY OF WICHITA FALLS, TEXAS
FIREMEN'S RELIEF AND RETIREMENT FUND -
REVENUES BY SOURCE AND EXPENSES BY TYPE -
LAST TEN PLAN YEARS (UNAUDITED)
Employer
Contributions
as Percentage Revenues By Source
Plan of Annual Employer Employee Investment
Year Covered Payroll contributions Contributions Income Total
1980
7.5%
$127,206
$151,944
$206,994
$ 486,144
1981
7.5%
193,964
168,144
282,315
644,423
1982
7.5%
191,205
191,205
334,446
716,856
1983
7.5%
215,613
222,620
378,941
817,174
1984
7.5%
234,231
281,003
441,169
956,403
1985
7.5%
242,484
300,292
520,725
1,063,501
1986
9.0%
332,367
312,819
539,855
1,185,041
1987
9.0%
310,317
310,317
585,591
1,206,225
1988
9.0%
324,740
324,740
662,204
1,311,684
1989*
9.0%
339,741
341,956
661,989
1,343,686
Expenses By Type
Aggregate
Plan
Benefit
Administrative
Year
Payments
Expenses
Refunds
Total
1980
$113,723
$ 8,068
$ 11,789
$133,580
1981
123,116
158
32,660
155,934
1982
143,467
-
10,699
154,166
1983
156,382
10,836
25,945
193,163
1984
242,715
11,645
26,513
280f873
1985
305,442
7,429
26,515
339,386
1986
347,737
17,926
-
365,663
1987
410,180
22,213
17,933
450,326
1988
460,307
13,157
100,085
573,549
1989*
516,173
15,826
18,456
550,455
contributions were made in accordance with actuarially -determined contribution
requirements.
* see note on page 42 for a discussion of the change in employee benefit provisions
approved as of April 30, 1990.
43
Wichita
TEXAS
COMBINING and
INDIVIDUAL
FUND
FINANCIAL
STATEMENTS
GENERAL
FUND
The General Fund is used to account for all revenues and expenditures
not accounted for in other funds. It receives a greater variety and
amount of revenues and finances a wider range of governmental activities
than any other fund. Major functions financed by the General Fund
include: Administrative; Finance; Police; Fire; Protective Inspections,
such as building, plumbing and electrical; Traffic Engineering; Public
works Engineering; Street Maintenance; Health; Community Enrichment
Activities such as Parks, Recreation, and Library; and Planning.
Wichita
TEXAS
EXHIBIT C-1
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1990 AND 1989
ASSETS
Cash and cash equivalents
Investments
Receivables:
Taxes and assessments (less $726,420
and $722,000 allowance for uncollectible
accounts)
other city funds
Government agencies
other
Inventory
Prepaid items
other assets
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Accrued payroll
Accrued vacation and sick leave
Payable to government agencies
other liabilities
Deferred revenue
Total liabilities
Fund balance:
Reserved for encumbrances
Reserved for inventory and prepaid items
unreserved:
Designated for subsequent years expenditures
Undesignated
Total fund balance
Total liabilities and fund balance
1990
1989
$10,855,127 $ 7,754,966
3,130,926
1,135,317 1,203,635
538,038 175,775
685,790 725,008
138,284 225,650
47,266 31,559
194,709 46,389
524 100
$13,595,055 $13,294,008
$ 553,688
$ 661,078
245,452
221,920
100,000
100,000
66,034
46,104
496,823
481,802
1,065,442
1,121,122
2,527,439
2,632,026
1,174,981 591,512
241,975 77,948
2,250,000 2,000,000
7,400,660 7,992,522
11,067,616 10,661,982
$13,595,055 $13,294,008
44
EXHIBIT C-2
(Page 1 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues:
Taxes:
Ad valorem taxes
Penalties and interest
City sales tax
Franchise taxes
Other taxes
Total taxes
Charges for services:
Golf, tennis and
recreation fees
Tax collection fees
Other service charges
Total charges
for services
Licenses and permits:
Building permits
Electrical and plumbing
Health and animal control
Other licenses and
permits
Total licenses and
permits
Fines:
Municipal court
Library
Total fines
Intergovernmental revenue:
Operating grants
Wichita Falls school
District
Wichita County
Total intergovern-
mental revenue
1990
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
$13,135,246
$13,427,344
$ 292,098
$12,933,347
195,000
213,014
18,014
216,975
7,000,000
6,815,437
( 184,563)
6,794,509
2,660,000
2,972,837
312,837
2,794,283
275,000
307,459
32,459
296,272
23,265,246
23,736,091
470,845
23,035,386
98,560
81,980
( 16,580)
91,569
108,071
107,871
( 200)
106,861
1,035,499
1,044,555
9,056
1,063,125
1,242,130
1,234,406
( 7,724)
1,261,555
110,000
106,634
( 3,366)
101,945
79,000
80,169
1,169
88,927
173,772
183,840
10,068
180,491
56,010
69,445
13,435
69,494
418,782
440,088
21,306
440,857
963,100
878,051
( 85,049)
813,961
20,100
22,353
2,253
20,367
983,200
900,404
( 82,796)
834,328
914,580
481,662
( 432,918)
512,931
256,678
256,804
126
237,452
41,000
41,000
-
41,000
1,212,258
779,466
( 432,792)
791,383
45
EXHIBIT C-2
(Page 2 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues (Cont'd.):
Miscellaneous revenue:
Parking meters
Rentals and concessions
Interest
sale of fixed assets
other
Total miscellaneous
revenue
Total revenues
Expenditures:
Administrative services
division:
Mayor and City Council
city Manager
Legal
Personnel/Risk Management
city clerk
Martin Luther King center
Farmer's Market
Library
Property Management
Data Processing
Community Information
Nondepartmental
Municipal Court
Building Maintenance
Purchasing
Total administrative
services division
Police division:
Police
1990
variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
4,200
3,827
( 373)
3,949
91,097
87,151
( 3,946)
100,989
822,049
1,276,641
454,592
1,347,193
30,500
30,348
( 152)
65,957
39,150
55,076
15,926
79,470
986,996
1,453,043
466,047
1,597,558
28,108,612
28,543,498
434,886
27,961,067
68,900
68,899
1
61,407
295,012
294,020
992
286,284
314,189
305,246
8,943
237,324
377,781
360,020
17,761
396,933
98,280
94,520
3,760
78,104
82,881
82,778
103
90,838
30,839
27,799
3,040
28,066
626,770
578,055
48,715
499,055
48,299
46,374
1,925
44,158
641,875
633,234
8,641
639,535
93,463
89,207
4,256
92,599
1,668,165
1,260,552
407,613
1,301,206
383,419
381,645
1,774
359,617
398,547
396,851
1,696
356,308
39,327
36,380
2,947
43,514
5,167,747
4,655,580
512,167
4,514,948
8,791,960
8,359,078
432,882
7,677,500
46
EXHIBIT C-2
(Page 3 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
1990
Variance -
Favorable
1989
Budqet
Actual
(Unfavorable)
Actual
Expenditures (Cont'd.):
Fire division:
Fire
5,399,893
5,360,935
38,958
5,240,285
Parks and recreation
division:
Recreation
470,803
469,674
1,129
435,946
Park maintenance
1,839,837
1,779,285
60,552
1,877,218
Cemetery
159,347
139,521
19,826
165,572
Total parks and
recreation
division
2,469,987
2,388,480
81,507
2,478,736
Accounting/finance division:
Accounting/finance
273,232
268,392
4,840
256,961
Tax
161,493
159,918
1,575
161,772
Total accounting/
finance division
434,725
428,310
6,415
418,733
Planning division:
Planning
362,671
326,867
35,804
336,887
Public works division:
Engineering
1,857,331
1,269,118
588,213
1,389,730
Inspection
428,737
426,951
1,786
436,809
Street
2,601,878
2,528,430
73,448
2,406,205
Total public works
division
4,887,946
4,224,499
663,447
4,232,744
Health division:
Administration
213,255
208,391
4,864
198,724
Nursing
800,867
749,836
51,031
704,477
Air and water pollution
183,186
183,180
6
170,918
Laboratory
113,192
103,713
9,479
95,708
General environment
249,866
214,497
35,369
162,072
Food and vector control
299,306
289,639
9,667
313,751
Animal control
192,548
184,098
8,450
185,312
Total health
division
2,052,220
1,933,354
118,866
1,830,962
47
EXHIBIT C-2
(Page 4 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
1990
variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
Expenditures (cont'd.):
Traffic and transportation
division:
Traffic engineering
1,261,232
1,197,787
63,445
1,249,506
Total expenditures
30,828,381
28,874,890
1,953,491
27,980,301
Excess of revenues over
(under) expenditures.
( 2,719,769)
( 331,392)
2,388,377
( 19,234)
other financing sources (uses):
operating transfers in
950,541
950,541
-
966,100
operating transfers out
( 213,516)
( 213,515)
1
( 180,558)
Capitalized leases
-
-
-
84,970
Total other financing
sources (uses)
737,025
737,026
1
870,512
Excess of revenues and other
sources over (under)
expenditures and other uses ($ 1,982,744)
Fund balance - beginning
Fund balance - ending
405,634 $2,388,378 851,278
10,661,982 9,810,704
$11,067,616 $10,661,982
48
r,
u%ichitd
TEXAS
SPECIAL
REVENUE
FUNDS
Special Revenue Funds are used to account for the proceeds of specific
revenue sources (other than expendable trusts or for major capital
projects) that are legally restricted to be expended for specified
purposes. Seven individual funds are reported within the Special
Revenue Funds as follows:
Revenue Sharing Fund
The Revenue Sharing Fund accounts for all federal revenue sharing
receipts and related expenditures.
Civic/Community Promotion Fund
The civic/Community Promotion Fund accounts for the operations of the
Wichita Falls Municipal Auditorium and the Wichita Falls Activity
Center.
Hotel/Motel Tax Fund
The Hotel/Motel Tax Fund accounts for revenues derived from an
occupancy tax which is expended on programs promoting the growth of
the City of Wichita Falls.
Community Development Block Grant Fund
The Community Development Block Grant Fund accounts for federal block
grant revenues and related expenditures.
Miscellaneous Special Revenue Fund
The Miscellaneous Special Revenue Fund accounts for various revenues
generated in the form of contributions, fees, concessions, rents and
other charges and their related expenditures. The revenues in this
fund are expended to support the activity generating the revenue or
as designated by the contributor.
Section 8 Housing Fund
The Section 8 Housing Fund accounts for federal funds received to
subsidize rents and housing payments for lower income families within
the City.
Rental Rehabilitation Program Fund
The Rental Rehabilitation Program Fund accounts for federal funds
received to provide decent, safe, sanitary and affordable rental
housing for lower income families within the City by rehabilitating
existing substandard rental units to a condition which brings them
into compliance with the Standard Housing code and the requirements
of the U.S. Department of Housing and Urban Development.
EXHIBIT D-1
CITE OF WICHITA FALLS, ffiAB
SPACIAL REVENUE FUMS
CXKBIEIEG HL JNCE SHEET
SE'PlAMBER 30, 1990
WITH COMPARATIVE TOTALS AT SERTEKMM 30, 1989
Civic/
Hotel/
Community
Miscellaneous
Rental
Revenue
Community
Motel
Development
special
Section 8
Rehabilitation
Totals
Sharing
Promotion
Tax
Block Grant
Revenue
Housing
Proqram
1990
1989
ASSETS
Cash and cash equivalents
$ 309,704
$20,289
$ -
$ -
$638,501
$112,923
$ -
$1,081,417
$ 289,285
Investments
-
-
-
-
-
-
-
-
792,466
Receivables:
Texas and assessments
-
-
172,402
-
-
-
-
172,402
164,479
Government agencies
-
-
-
981,505
-
1,831
62,803
1,046,139
1,746,393
Other
-
5,335
-
-
1,100
-
-
6,435
4,575
Prepaid items
-
225
-
18,030
2,000
117,068
-
137,323
28,431
Total assets
$ 309 ,704
$25,849
$172,402
999 A.535
$641, 601
$2314822
62 803
$2, 443, 716
$3,035,629
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
$ -
$23,534
$ -
$ 104,702
$ 8,770
$ 920
$ 3,471
$ 141,397
$ 89,046
Accrued payroll
-
1,465
-
2,442
-
1,385
-
5,292
4,620
Payable to other City funds
-
-
52,183
133,237
-
-
4,365
189,785
15,516
Payable to government agencies
-
-
-
-
-
9,624
-
9,624
18,561
other liabilities
850
555
4,696
7,504
618
14,223
9,968
Total liabilities
25,849
52,738
245,077
16,274
12,547
7,836
360,321
137,711
Fund balance:
Reserved for encumbrances
-
-
-
15,440
37,446
-
-
52,886
868,971
Reserved for prepaid items
-
225
-
18,030
-
117,068
-
135,323
18,431
Unreserved:
Designated for subsequent
years expenditures
309,704
-
-
720,988
587,881
102,207
54,967
1,775,747
1,817,956
Undesignated
-
( 225)
119,664
-
-
-
-
119,439
192,560
Total fund balance
309,704
119,664
754,458
625,327
219,275
54,967
2,083,395
2,897,918
Total liabilities and fund balance
$ 309,704
$25,849
$172,402
$ 9996535
$641,601
$231, 822
$ 62, 803
$2,443, 716
$3,035,629
Revenues:
Taxes
Intergovernmental revenue
Miscellaneous revenue
Total revenues
Expenditures:
Current:
Administrative services
division
Parks and recreation
division
Accounting/finance
division
Public works division
Health division
Traffic and transpor-
tation division
Capital outlay
Total expenditures
Excess of revenues over
(under) expenditures
other financing sources (uses):
Operating transfers in
operating transfers out
Total other
financing sources
(uses)
Excess of revenues and other
sources over (under)
expenditures and other uses
Fund balance (deficit) - beginning
Fund balance - ending
EXHIBIT D-2
CIS! OF WICHITA FALLS, TELS
SPECIAL REVE80E FUNDS
COMBINING STATEI®T OF REVENUES, EXPENDITURES AND CHANGMS IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR E®ED 6XVISHMER 30, 1990
WITH COMPARATIVE TOTALS FOR THE YEAR SIDED BEPSEIHER 30, 1989
Totals
1990
1989
civic/
Hotel/
Community
Miscellaneous
Rental
Variance -
Revenue
Community
Motel
Development
special
Section 8
Rehabilitation
Favorable
Sharing
Promotion
Tax
Block Grant
Revenue
Housing
Program
Actual
Budget
(Unfavorable)
Actual
$589,922
$ -
$ -
$ -
$ -
$ 589,922
$ 561,000
$ 28,922
$ 609,553
-
-
-
1,253,000
-
1,601,982
56,000
2,910,982
2,952,142
( 41,160)
3,028,406
24,088
204,240
7,295
355,811
1,150
592,584
504,688
87,896
588,649
24,088
204,240
589,922
1,260,295
355,811
1,603,132
56,000
4,093,488
4,017,830
75,658
4,226,608
967
449,007
418,362
271,867
43,107
1,555,473
87,160
2,825,943
3,118,552
292,609
2,889,596
7,775
-
-
110,820
228,564
-
-
347,159
704,709
357,550
284,097
_
_
_
_
_
-
-
-
106
106
5,791
-
-
-
1,280,800
-
-
-
1,280,800
1,883,678
602,878
835,864
-
-
-
93,110
-
-
-
93,110
96,765
3,655
87,717
-
-
-
338,449
-
-
-
338,449
501,571
163,122
276,205
10,753
11,797
22,550
335,864
313,314
26,113
8,742
449,007
418,362
2,095,046
282,424
1,567,270
87, 160
4,908,011
6,641,245
1,733,234
4,405,383
15,346
( 244,767)
171,560
( $34,751)
73,387
35,862
( 31,160)
( 814, 523)
( 2,623,415)
1,808,892
( 178,775)
-
246,862
-
-
-
-
-
246,862
268,500
( 21,638)
175,000
( 246,862)
-
-
-
( 246,862)
( 268,500)
21,638
( 175,000)
246,862
( 246,862)
-
-
-
-
-
-
15,346
2,095
( 75,302)
( 834,751)
73,387
35,862
( 31,160)
( 814,523)
($2,623,415)
$1,808,892
( 178,775)
294,358
( 2,095)
194,966
1,589,209
551,940
183,413
86,127
2,897,918
3,076,693
$ 309,704
$
$119,664
$ 754,458
8625,327
$ 219,275
S 54,967
$2,083,395
$2,897,918
EXHIBIT D-3
CITY OF WICHITA FALLS, TEXAS
REVENUE SHARING FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1990 AND 1989
ASSETS
Cash and cash equivalents
Receivables:
other
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Fund balance:
Reserved for encumbrances
unreserved:
Designated for subsequent years
expenditures
Total fund balance
Total liabilities and fund balance
1990
$ 309,704
$ 309,704
S -
309,704
309,704
$ 309,704
1989
$ 294,060
298
$ 294,358
S -
3,961
290,397
294,358
$ 294,358
51
EXHIBIT D-4
CITY OF WICHITA FALLS, TEXAS
REVENUE SHARING FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues:
Miscellaneous revenue
Expenditures:
Current:
Administrative services
division
Parks and recreation
division
Accounting/finance
division
Traffic and transporta-
tion division
Capital outlay
Total expenditures
Excess of revenues over
(under) expenditures
Fund balance - beginning
Fund balance - ending
1990
Budciet Actual
$ - $ 24,088
variance -
Favorable
(Unfavorable)
$ 24,088
1989
Actual
$ 28,854
1,804
967 837
1,835
39,349
7,775 31,574
70,999
106
- 106
5,791
104,654
- 104,654
264,586
95,591
- 95,591
1,849
241,504
8,742 232,762
345,060
($ 241,504) 15,346
294,358
$ 309,704
$ 256,850
( 316,206)
610,564
$ 294,358
52
EXHIBIT D-5
CITY OF WICHITA FALLS, TEXAS
CIVIC/COMMUNITY PROMOTION FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1990 AND 1989
ASSETS
Cash and cash equivalents
Receivables:
other
Prepaid items
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Accrued payroll
other liabilities
Total liabilities
Fund balance (deficit):
Reserved for encumbrances
Reserved for prepaid items
Unreserved:
undesignated
Total fund balance (deficit)
Total liabilities and fund balance
1990 1989
$ 20,289 $ 7,345
5,335 4,848
225 310
$ 25,849 $ 12,503
$ 23,534
1,465
850
25,849
225
( 225)
$ 12,270
1,224
1,104
14,598
$ 25, 849 $
310
2,405)
2,095)
12,503
53
EXHIBIT D-6
CITY OF WICHITA FALLS, TEXAS
CIVIC/COMMUNITY PROMOTION FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues:
Miscellaneous revenue
Expenditures:
Current:
Administrative services
division
Excess of revenues over
(under) expenditures
other financing sources (uses):
Operating transfers in
Excess of revenues and other
sources over (under)
expenditures and other uses
Fund balance - beginning
Fund balance (deficit) -
ending
1990
variance -
Favorable 1989
Budget Actual (Unfavorable) Actual
$ 190,000 $ 204,240 $ 14,240 $ 197,037
458,500
449,007
9,493
374,438
( 268,500) (
244,767)
23,733 (
177,401)
268,500
246,862 (
21,638)
175,000
S 2,095 $ 2,095 ( 2,401)
( 2,095) 306
$ ($ 2,095)
54
EXHIBIT D-7
CITY OF WICHITA FALLS, TEXAS
HOTEL/MOTEL TAR FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1990 AND 1989
ASSETS
Cash and cash equivalents
Receivables:
Taxes and assessments
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Payable to other City funds
Other liabilities
Total liabilities
Fund balance:
Unreserved:
Undesignated
Total liabilities and fund balance
1990
172,402
S� 172,402
$ 52,183
555
52,738
119,664
$ 172,402
1989
$ 11,042
184,479
$ 195,521
555
555
194,966
$ 195,521
55
EXHIBIT D-8
CITY OF WICHITA FALLS, TEXAS
HOTEL/MOTEL TAX FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues:
Taxes
Miscellaneous revenue
Total revenues
Expenditures:
Current:
Administrative services
division
Excess of revenues over
expenditures
other financing sources (uses):
Operating transfers out
Excess of revenues and other
sources over (under)
expenditures and other uses
Fund balance - beginning
Fund balance - ending
1990
Budqet Actual
$ 561,000 $ 589,922
561,000 589,922
419,000
142,000
418,362
171,560
268,500) ( 246,862)
variance -
Favorable
(Unfavorable)
$ 28,922
28,922
638
29,560
1989
Actual
$ 609,553
941
610,494
407,776
202,718
21,638 ( 175,000)
($ 126,500) ( 75,302) $ 51,198 27,718
194,966 167,248
$ 119„664 $ 194,966
56
EXHIBIT D-9
CITY OF WICHITA FALLS, TEXAS
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1990 AND 1989
ASSETS
Receivables:
Government agencies
Prepaid items
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Accrued payroll
Payable to other City funds
other liabilities
Total liabilities
Fund balance:
Reserved for encumbrances
Reserved for prepaid items
Unreserved:
Designated for subsequent years
expenditures
Total fund balance
Total liabilities and fund balance
1990 1989
$ 981,505 $1,655,417
18,030 18,030
$ 999,535 $1,673,447
$ 104,702
$ 66,522
2,442
2,014
133,237
15,515
4,696
187
245,077
84,238
15,440
855,397
18,030
18,030
720,988
715,782
754,458
1,589,209
$ 999,535
$1,673,447
57
EXHIBIT D-10
CITY OF WICHITA FALLS, TEXAS
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues:
Intergovernmental revenue
Miscellaneous revenue
Total revenues
Expenditures:
Current:
Administrative services
division
Parks and recreation
division
Public works division
Health division
Traffic and transporta-
tion division
capital outlay
Total expenditures
Excess of revenues over
(under) expenditures
Fund balance - beginning
Fund balance - ending
1990
Variance -
Favorable
1989
Budget
Actual
(Unfavorable)
Actual
$ 1,253,000
$ 1,253,000
$ -
$ 1,203,000
-
7,295
7,295
6,262
1,253,000
1,260,295
7,295
1,209,262
304,281
271,867
32,414
373,091
148,000
110,820
37,180
38,875
1,883,678
1,280,800
602,878
835,864
961765
93,110
3,655
87,717
396,917
338,449
58,468
11,619
6,728
-
6,728
3,610
2,836,369
2,095,046
741,323
1,350,776
($ 1,583,369)
( 834,751)
$ 748,618
( 141,514)
1,589,209
1,730,723
$ 754,458
$ 1,589,209
58
EXHIBIT D-11
CITY OF WICHITA FALLS, TEXAS
MISCELLANEOUS SPECIAL REVENUE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1990 AND 1989
ASSETS
Cash and cash equivalents
Investments
Receivables:
other
Prepaid items
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Other liabilities
Total liabilities
Fund balance:
Reserved for encumbrances
Reserved for prepaid items
Unreserved:
Designated for subsequent years
expenditures
Total fund balance
Total liabilities and fund balance
1990 1989
$ 638,501 $ 27,158
- 537,579
1,100 4,277
2,000 90
5_641,601 $ 569,104
$ 8,770 $ 9,660
7,504 7,504
16,274 17,164
37,446 9,613
- 90
587,881 542,237
625,327 551,940
$ 641,601 $ 569,104
59
EXHIBIT D-12
CITY OF WICHITA FALLS, TEXAS
MISCELLANEOUS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues:
Miscellaneous revenue
Expenditures:
Current:
Administrative services
division
Parks and recreation
division
capital outlay
Total expenditures
Excess of revenues over
(under) expenditures
Fund balance - beginning
Fund balance - ending
1990
Budqet Actual
$ 314,688 $ 355,811
105,495
43,107
517,360
228,564
221,748
10,753
844,603
282,424
($ 529,915) 73,387
551,940
$ 625,327
Variance -
Favorable 1989
(Unfavorable) Actual
$ 41,123 $ 355,555
62,388
44,179
288,796
174,223
210,995
20,654
562,179
239,056
$ 603,302
116,499
435,441
551,940
60
EXHIBIT D-13
CITY OF WICHITA FALLS, TEXAS
SECTION 8 HOUSING FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1990 AND 1989
ASSETS
cash and cash equivalents
Receivables:
Government agencies
Prepaid items
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Accrued payroll
Payable to government agencies
other liabilities
Total liabilities
Fund balance:
Reserved for prepaid items
Unreserved:
Designated for subsequent years
expenditures
Undesignated
Total fund balance
Total liabilities and fund balance
1990
$ 112,923
1,831
117,068
$ 231,822
$ 920
1,385
9,624
618
12,547
117,068
1989
$ 204,567
1
204,568
594
1,382
18,561
618
21,155
1
102,207 183,413
( 1)
219,275 183,413
$ 231,822 $ 204,568
61
EXHIBIT D-14
CITY OF WICHITA FALLS, TEXAS
SECTION 8 HOUSING FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues:
Intergovernmental revenue
Miscellaneous revenue
Total revenues
Expenditures:
Current:
Administrative services
division
capital outlay
Total expenditures
Excess of revenues over
expenditures
Fund balance - beginning
Fund balance - ending
1990
Budget Actual
$ 1,699,142 $ 1,601,982
- 1,150
1,699,142 1,603,132
1,687,345
1,555,473
11,797
11,797
1,699,142
1,567,270
$ - 35,862
183,413
$ 219,275
variance -
Favorable
1989
(Unfavorable)
Actual
($ 97,160)
$ 1,671,406
1,150
-
( 96,010)
1,671,406
131,872 1,528,268
131,872 1,528,268
$ 35,862
S
143,138
40,275
183,413
62
EXHIBIT D-15
CITY OF WICHITA FALLS, TEXAS
RENTAL REHABILITATION PROGRAM FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1990 AND 1989
ASSETS
Receivables:
Government agencies
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Payable to other City funds
Total liabilities
Fund balance:
unreserved:
Designated for subsequent years
expenditures
Total liabilities and fund balance
1990
$ 62,803 $
$ 62,803 $
$ 3,471
4,365
7,836
54,967
$ 62,803
1989
86,128
86,128
86,127
$ 86,128
63
EXHIBIT D-16
CITY OF WICHITA FALLS, TEXAS
RENTAL REHABILITATION PROGRAM FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues:
Intergovernmental revenue
Expenditures:
Current:
Administrative services
division
Excess of revenues over
(under) expenditures
Fund balance - beginning
Fund balance - ending
1990
variance -
Favorable 1989
Budqet Actual (Unfavorable) Actual
$ - $ 56,000 $ 56,000 $ 154,000
142,127 87,160 54,967 160,009
($ 142„127) ( 31,160)
86,127
$ 54,967
$ 110,967
6
6,009)
92,136
86,127
64
Wichita
't
TEXAS
i Ye
DEBT SERVICE
FUND
The Debt service Fund, also known as the Interest and Sinking Fund, is
established by ordinances authorizing the issuance of general obligation
bonds to provide for the payment of bond principal and interest. An ad
valorem tax rate and tax levy are required to be computed and levied
which will be sufficient to produce the funds required to pay principal
and interest as they come due. This fund is also used to provide for
the payment of paying agent fees.
EXHIBIT E-1
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1990 AND 1989
ASSETS
cash and cash equivalents
Receivables:
Taxes (net of allowance for uncollectible
taxes of $126,106 and $130,545)
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Deferred revenue
Fund balance:
Designated for debt service
Total liabilities and fund balance
1990 1989
$ 680,353 $ 566,089
372,754 394,250
$1,053,107 $ 960,339
$ 358,172 $ 375,539
694,935 584,800
$1,053,107 $ 960,339
65
EXHIBIT E-2
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues:
Taxes:
Ad valorem taxes
Miscellaneous:
Interest
Total revenues
Expenditures:
Principal retirement
Interest and paying
agent fees
Total expenditures
Excess of revenues over
expenditures
Fund balance - beginning
Fund balance - ending
1990
variance -
Favorable 1989
Budqet Actual (Unfavorable) Actual
$ 2,290,815 $ 2,267,952 ($ 22,863) $ 2,354,692
- 129,922 129,922 117,109
2,290,815 2,397,874 107,059 2,471,801
670,000 670,000 - 635,000
1,620,815 1,617,739 3,076 1,652,424
2,290,815 2,287,739 3,076 2,287,424
S - 110,135 $ 110,135 184,377
584,800 400,423
$ 694,935 $ 584,800
66
Wict►ita
TEXAS
CAPITAL
PROJECTS
FUNDS
The Capital Projects Funds are used to account for financial resources
to be used for the acquisition or construction of major capital
facilities (other than those financed by Proprietary Funds). The six
Capital Projects Funds are as follows:
1980 General Improvements
This fund was established to account for the projects financed by the
1980 General Obligation Bonds. significant projects accounted for
in this fund included drainage improvements, installation of traffic
control equipment, and improvements to the Central services Complex.
1981 C.O. General Improvements
This fund was established to account for the projects financed by the
1981 certificates of obligation. significant projects accounted for
in this fund included the construction of a solid waste transfer
station and the improvements to Holliday Creek designed to increase
flood control capabilities.
1981 G.O. General Improvements
This fund was established to account for the projects financed by the
1981 General obligation Bonds. significant projects accounted for
in this fund included street improvements and the construction of a
storm drain.
1982 General Improvements
This fund was established to account for the projects financed by the
1982 General obligation Bonds. significant projects accounted for
in this fund included park improvements, street improvements and the
construction of a softball complex.
1985 Holliday Creek Protect
This fund was established to account for a single project financed
by the 1985 General obligation Bonds. The project is designed to
increase flood control capabilities in the Holliday Creek area.
capital Improvement Assessments
This fund was established to account for special assessments which
are capital in nature and enhance the utility, accessibility, or
aesthetic value of the affected properties. significant projects
accounted for in this fund are streets and sidewalks.
EXHIBIT F-1
CITY OF WICHITA FALLS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
SEPTEIBER 30, 1990
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1989
1985
1980
1981
1981
1982
Holliday
Capital
General
C.O. General
G.O. General
General
Creek
Improvement
Totals
Improvements
Improvements
Improvements
Improvements
Proiect
Assessments
1990
1989
ASSETS
Cash and cash equivalents
$
395,388
$130,051
$ 556,801
$ 816,134
$3,147,305
$540,984
$ 5,586,663
5,193,096
$10,375,907
1,215,385
Investments
404,650
359,200
1,524,000
462,150
2,443,096
Receivables:
438,376
438,376
446,531
Capital improvement assessments
-
-
_
_
=
4,864
Other
-
-
$
800,038
$489,251
$2,080,801
S1.278..284
$5,,590,401
$979,360
�S11f218,135
!j_12,04,2.,687
Total assets
O�
v LIABILITIES AND FUND BALANCE
Liabilities:
$ -
$ -
$ 7,619
$ -
$ 9,332
$ 101,864
Accounts payable - trade
$
1,713
$ -
-
-
8,792
643
4,642
14,077
25,411
Other liabilities
-
-
438,377
438.377
446,532
Deferred revenue
-
-
-
-
8,792
8.262
443,019
461,786
573,807
Total liabilities
1.713
-
Fund balance:
Reserved for encumbrances
404,853
359,200
1,524,000
462,150
2,452,554
-
5,202,757
1,639,923
Unreserved:
Designated for subsequent
393.472
130,051
556,801
807,342
3,129,585
536,341
5.553,592
9,826,957
years expenditures
Total fund balance
798.325
489.251
2.080,801
1,269.492
5.582,139
536,341
10,756.349
11,468.880
Total liabilities and fund balance
S_
800,038
11IL251
$2,080,801
$.1,278.,.284
$5i590,401
JILI&360
$11¢ 2�18,1355
§12,042,687
M.
EXHIBIT F-2
CITY OF WICHITA FALLS, TEXAS
CAPITAL PROJECTS FONDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANCES IN
FOND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30,
1989
1985
1980
1981 1981 1982
Holliday
Capital
General
C.O. General G.O. General General
Creek
Improvement
Totals
Improvements
Improvements Improvements Improvements
Proiect
Assessments
1990
1989
Revenues:
Miscellaneous:
Capital improvement
assessments
$ -
$ - $ - $ -
$ -
$ 8,155
$ 8,155
$ 8,199
Interest
89,181
30,888 131,467 92,386
539,687
45,406
929,015
921,143
Other
-
- - -
200
( 10)
190
15,671
Total revenues
89,181
30,888 131,467 92,386
539,887
53.551
937,360
945,013
Expenditures:
Park improvements
-
- - 1,507
-
-
1,507
12,153
Drainage improvements
5,343
- - -
-
-
5,343
-
Softball complex
-
- - 12
Holliday Creek improvements
600,000
- - -
-
1,043.029
-
-
12
1,643,029
-
877,257
Total expenditures
605,343
- - 1.519
1,043,029
-
1,649,891
889,410
Excess of revenues over (under)
expenditures
( 516,162)
30,888 131,467 90,867 (
503,142)
53,551
( 712,531)
55,603
Fund balance - beginning
1,314.487
458,363 1,949.334 1,178,625
6,085,281
482.790
11,468,880
11,413,277
Fund balance - ending
$ 798,325
$489,251 $2,080,801 $1,269,492
$5,582,139
jjjjj34l
$10„756,399
$11,968,880
Wichita
TEXAS
ENTERPRISE
FUNDS
Enterprise Funds are used to account for operations that are financed
and operated in a manner similar to private business enterprises. The
intent of the governing body is that the cost of providing the service
to the general public on a continuing basis be recovered primarily
through user charges. The Enterprise Funds include the following:
Airport Fund
The Airport Fund was established to account for the operating
revenues and expenses of the Wichita Falls Municipal Airport. The
airport is operated on land leased from the Department of Defense.
Commercial and private aviation share airport facilities and runways
owned by Sheppard Air Force Base.
Transit Fund
The Transit Fund accounts for the operation of the Wichita Falls
transit system. This system is supported from passenger fees,
subsidies from the General Fund and subsidies from the Urban Mass
Transportation Administration.
Sanitation Fund
The sanitation Fund was established to account for the operating
revenues and expenses associated with the collection of residential
garbage and refuse produced by commercial establishments within the
City of Wichita Falls. Although a program of the City government,
the sanitation Fund is operated as a separate enterprise and the
accounting records are maintained on an enterprise fund basis.
Water and Sewer Fund
The Water and Sewer Fund was established for control of the operating
revenues and expenses of the City of Wichita Falls water and sewer
utility. To comply with bond ordinances and accounting policies, a
number of funds have been established to account for water and sewer
maintenance and operations, billing and collection, extensions and
improvements, and debt service. The various funds used to account
for the different functions have been combined into the water and
Sewer Fund as presented in the financial statements.
ASSETS
Current assets:
Cash and cash equivalents
Investments
Receivables:
Customer and trade
Government agencies
Other
Inventory
Prepaid items
Total current assets
Restricted assets:
Cash and cash equivalents
Investments
Receivables:
Government agencies
Other
Total restricted assets
Plant and equipment:
Land and betterments
Buildings, systems and improvements
Machinery and equipment
Furniture and fixtures
Motor vehicles and equipment
Construction in progress
Less accumulated depreciation
Total plant and equipment
other assets:
Deferred charges
Total assets
EXHIBIT G-1
(Page 1 of 2)
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FONDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1990
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1989
Water and
Totals
Airport
Transit
Sanitation
Sewer
1990
1989
$ 219,192
$ 1,863
$2,463,348
$ 6,535,513
$ 9,219,916 $
7,646,926
-
-
-
-
-
1,600,194
25,340
-
475,650
1,339,866
1,840,856
1,722,899
-
343,291
-
-
343,291
160,445
59,717
-
3,870
119,004
182,591
95,637
-
-
-
605,681
605,681
562,712
192
5
2,247
4,063
6,507
4,523
304,441
345,159
2,945,115
8,604,127
12,198,842
11,793,336
-
-
-
5,143,445
5,143,445
1,770,359
-
-
-
2,561,033
2,561,033
4,770,910
-
-
-
1,501,401
1,501,401
-
-
-
-
23,827
23,827
97,754
-
-
-
9,229,706
9,229,706
6,639,023
1,468,175
61,925
653,692
22,414,888
24,598,680
24,598,680
1,451,662
626,867
2,298,370
70,514,169
74,891,068
73,791,942
16,542
67,822
92,206
2,575,068
2,751,638
2,722,423
12,477
6,129
4,750
21,507
44,863
48,160
-
-
-
3,670
3,670
3,670
-
-
-
5,650,573
5,650,573
2,099,148
2,948,856
762,743
3,049,018
101,179,875
107,940,492
103,264,023
( 1,170,974)
( 94,996)
( 456,077)
( 32,857,344)
( 34,579,391) (
32,669,440)
1,777,882
667,747
2,592,941
68,322,531
73,361,101
70,594,583
-
-
-
593,869
593,869
617,893
$2,082,323
$1,012,906
$5,538,056
$ 86,750„233
5�95,383,518 $
89,644,835
v
O
EXHIBIT G-1
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING BALANCE SHEET (CONT'D.)
SEPTEMBER 30, 1990
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1989
Water and
Totals
Airport
Transit
Sanitation
Sewer
1990
1989
LIABILITIES AND FUND EQUITY
Current liabilities payable from current assets:
Accounts payable - trade
$ 6,006
$ 4,335
$ 264,297
$ 387,772
$ 662,410
$ 441,097
Accrued payroll
Payable to other City funds
1,193
18,864
87,899
154,870
262,826
255,400
Government agencies
-
3,153
3481253
-
-
-
348,253
160,259
Other liabilities
59,847
1
-
7,076
26,262
72,567
29,415
2,318
Total current liabilities payable
139,491
163,076
from current assets
70,199
371,453
359,272
641,471
1,442,395
1,022,150
Current liabilities payable from restricted assets:
Contracts and trade
Revenue bonds - current maturities
-
-
-
960,962
960,962
222,439
Accrued interest - revenue bonds
-
-
-
680,000
680,000
640,000
Matured bonds payable
-
-
-
300,344
300,344
302,458
Deferred revenue
-
-
-
-
3,000
3,000
3,000
Total current liabilities payable
-
-
-
-
54,000
from restricted assets
-
-
-
1,944,306
1,944,306
1,221,897
Long-term liabilities:
Payable to U.S. Government
-
-
-
1,059,672
1,059,672
1,076,623
Revenue bonds, less current maturities
-
-
-
24,146,401
24,146,401
22,195.000
Total long-term liabilities
-
-
-
25,206,073
25,206,073
23,271,623
Long-term liabilities payable from restricted assets:
Customer deposits
-
-
-
1,080,408
1,080,408
1,035,217
Total liabilities
70,199
371,453
359,272
28,872,258
29,673,182
26,550,887
Fund equity:
Contributed capital
2,277,385
818,745
2,907,626
16,412,711
22,416,467
22,159,703
Retained earnings (deficit):
Reserved for revenue bond debt service
-
-
2,873,399
2,873,399
2,867,097
Unreserved (
Total retained earnings (deficit) (
265,261)
( 177,292)
( 177,292)
2,271,158
2,271,158
38,591,865
41,465,264
40,420,470
38,067,148
265,261)
Total fund equity
2,012,124
641,453
5,178,784
57,877,975
43,293,869
65,710,336
40,934,245
63,093,948
Total liabilities and fund equity
$2,082,323
$1,012,906
$5,538,056
$ 86,750,233
$ 95,383,518
$ 89,644,835
EXHIBIT G-2
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Operating revenues:
Charges for services
Rents, concessions and other
Total operating revenues
Operating expenses:
Personnel services
Supplies and materials
Maintenance and repairs
Utilities and other services
Insurance and contract support
Depreciation and amortization
Total operating expenses
Operating income (loss)
Non -operating revenues (expenses):
Interest income
Gain (loss) on sale of assets
Litigation proceeds
Interest expense and paying agent fees
Contributions from operating grants
Total non -operating revenues (expenses)
Income (loss) before operating transfers
operating transfers:
Operating transfers in
Operating transfers out
Net operating transfers
Net income (loss)
Retained earnings (deficit) - beginning
Equity transfer
Retained earnings (deficit) - ending
Water and
Airport Transit Sanitation Sewer
$ 22,235 $147,888 $5,312,301 $12,573,215
210,971 88 24,091 164.077
233,206 147,976 5,336,392 12,737,292
Totals
1990 1989
$18,055,639 $17,757,846
399,227 363,817
18,454,866 18,121.663
30,709
364,962
1,874,371
3,238,689
5,508,731
5,090,325
325
55,194
108,401
635,938
799,858
831,756
24,291
79,877
2,887,151
2,428,681
5,420,000
4,256,022
103,478
29,978
237,397
1,971,471
2,342,324
2,232,348
2,971
14,326
118,249
399,716
535,262
516,304
90,911
14,506
59,080
1,802,755
1,967,252
1,880,366
252,685
558,843
5,284,649
10,477,250
16.573,427
14,807,121
( 19.479)
( 410,867)
51.743
2,260,042
1,881,439
3,314,542
25,948
-
185,416
1,052,355
1,263,719
1,360,569
_
_
-
( 2,829)
( 2,829)
105
51,980
51,980
52,000
2)
_
-
( 584,475)
( 584,477)
( 800,717)
-
162,846
-
-
182,846
160.445
25,946
182,846
185,416
517,031
911.239
772,402
6,467
( 228,021)
237,159
2,777,073
2,792,678
4,086,944
-
213,515
-
-
213,515
180,558
_
-
( 380,692)
( 257,415)
( 638,107)
( 653,666)
-
213,515
( 380,692)
( 257,415)
( 424,592)
( 473,108)
6,467
( 14,506)
( 143,533)
2,519,658
2,368,086
3,613,836
( 271,728)
( 162,786)
2,414,691
38,954,068
40,934,245
37,320,409
-
-
-
( 8.462)
( 8,462)
-
($ 265.261)
( 177 292)
12,271,158
$41,465,264
$43,293,8699
}S4_0,934,245
V
N
EYBIBIT G-3
CITE OW WICHITA IALLS, TEEAB
EMTQPRI6E room
COMBI*DG STATEMENT OF CASE FLOW
FOR THE YEAR ®® 6EPT01MZ 30, 1290
WITH COMPARATIVE TO?ALE FOR TER YEAR ENO® EEP=MBER 30, 1989
Water and
Totals
Airport
Transit
Sanitation
Sewer
1990
1989
Cash flows from operating activities
Operating income (loss)
($ 19,479)
( 41$ 0,867)
$ 51,743
$ 2,260,042
S 1,881,439
S 3.314.542
Adjustments to reconcile operating income (lose) to net
cash provided by (used in) operating activities,
Depreciation and amortization
90,921
14,506
59,080
1,802,755
1,967,252
1,880,366
Increase (decrease) in current assets and liabilitias
Receivables
Customer and trade
( 3,91.4)
-
27,172
( 141,215)
( 127,957)
( 4,077)
Government agencies
-
( 182,646)
-
-
( 182,846)
26,170
Other
13,425
-
3,412
( 103,791)
( 86,954)
( 50,991)
Inventory
-
-
-
( 42,969)
( 42,969)
( 615)
Prepaid item
( 6)
-
23
( 2,001)
( 1,984)
3,816
Other restricted assets
-
-
-
( 1,427,474)
( 1,427,474)
44,427
Accounts payable - trade
56
( 2,916)
155,098
68,975
221,313
( 277,805)
Accrued payroll
9
( 2,333)
5,369
4,381
7,426
17,378
Payable to other City funds
-
187,994
-
-
107,994
( 27,082)
Payable to government agencies
835
-
-
26,262
27,097
812
Other liabilities
( 13,386)
1
-
( 10,200)
( 23,585)
( 17,482)
Other liabilities payable from
restricted assets
722,409
722,409
201,574
Total adjustments
87,930
14,506
250,154
897,132
1,249,722
1,796,411
Net cash provided by (used in) operating activities
68,451
( 396,361)
301,897
3,257,174
3,131,161
5.110,953
Cash flows from noncapital financing activities,
Customer deposit■ received
-
-
-
45,191
45,151
50,464
Operating grants received
-
182,846
-
-
182,846
160,445
Operating transfers in from other funds
-
213,515
-
-
213,515
180,558
Operating transfers out to other funds
-
-
( 380,692)
( 257,415)
( 638,107)
( 653,666)
Net cash provided by (used in) noncapital
financing activities
-
396,361
( 380,692)
( 212.224)
( 196,555)
( 262,199)
Cash flows from capital and related financing activities
Proceeds from sale of revenue bonds
-
-
-
2,631,401
2,631,401
-
Acquisition and construction of capital assets
( 2,934)
-
-
( 4,698,646)
( 4,701,580)
( 5,029,894)
Purchase of water rate study
-
-
-
( 19,457)
( 19,457)
-
Litigation proceeds
-
-
-
51,980
51,980
52,000
Principal paid on revenue bond maturities and
conatruction contracts
-
-
-
( 696,951)
( 696,951)
( 656,417)
Interest paid on revenue bonds and construction contracts
( 2)
-
-
( 584,475)
( 584,477)
( $00,717)
Proceeds from sale of equipment
-
-
-
-
-
250
Contributed capital
-
-
-
256,764
256,764
170,752
Net cash used for capital and related
financing activities
( 2,936)
-
-
( 3,059,384)
( 3,062,320)
( 6,264,026)
Cash flows from investing activities
Purchase of investment securities
-
-
-
( 2,381,033)
( 2,381,033)
( 6,149,004)
Proceeds from sale and maturities of investment securities
-
-
1,183,107
5,007,997
6,191,104
5,297,561
Interest and dividends on investments
25,948
185,416
1,052,355
1,263,719
1,360,569
Net cash provided by investing activities
25,948
-
1,368,523
3,679,319
5,073,790
509,126
Net increase (decrease) in cash and cash equivalents
91,463
-
1,289,728
3,564,885
4,946,076
( 906,146)
Cash and cash equivalents at beginning of year
127,729
2,863
1,173,620
8,114,073
9,417,285
10,323,431
Cash and cash equivalents at end of year
$ 219,192
$ 1,863
$2,463,348
$11,678,958
$14,363,361
$ 9,417,285
Wichita
TEXAS
INTERNAL
SERVICE
FUNDS
The Internal Service Fund is used to account for the financing of goods
or services provided by one department or agency to other departments
or agencies of the City on a cost -reimbursement basis.
The City's Internal service Fund accounts for the costs associated with
the operation, maintenance and replacement of the City's vehicle and
equipment fleet. City departments which use the vehicles and equipment
are charged a monthly rental fee based upon actual operating costs
associated with each class of vehicle or equipment.
EXHIBIT H-1
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1990 AND 1989
ASSETS
Current assets:
cash and cash equivalents
Inventory
Prepaid items
Total current assets
Plant and equipment:
Land and betterments
Buildings, systems and improvements
Furniture and fixtures
Motor vehicles and equipment
Less accumulated depreciation
Total plant and equipment
Total assets
LIABILITIES AND FUND EOUITY
Current liabilities:
Accounts payable - trade
Accrued payroll
Total current liabilities
Fund equity:
contributed capital
Retained deficit
Total fund equity
Total liabilities and fund equity
1990 1989
$ 586,563
$ 461,552
316,403
280,384
244
63
903,210
741,999
433,658
433,658
4,008,948
4,008,948
5,974
5,974
16,157,802
15,379,165
20,606,382
19,827,745
9,201,201)
( 8,149,602)
11,405,181
11,678,143
$12,308,391 $12,420,142
$ 224,449
$ 271,337
60,715
62,111
285,164
333,448
12,388,618
12,376,706
( 365,391)
( 290,012)
12,023,227
12,086,694
$12,308,391
$12,420,142
73
EXHIBIT H-2
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Operating revenues:
Rents, concessions and other
operating expenses:
Personnel services
supplies and materials
Maintenance and repairs
Utilities and other services
Insurance and contract support
Depreciation and amortization
Total operating expenses
operating income
Non -operating revenues (expenses):
Gain (loss) on sale of assets
Income before operating transfers
operating transfers:
operating transfers out
Net loss
Retained deficit - beginning
Retained deficit - ending
1990
$5,301,885
1,069,501
1,082,776
1,031,205
202,765
6,558
1,778,844
5,171,649
130,236
106,819
237,055
1989
$5,246,378
1,033,928
884,893
1,297,791
206,304
24,525
1,710,900
5,158,341
88,037
40,460)
47,577
( 312,434)
312,434)
( 75,379)
( 264,857)
( 290,012)
( 25,155)
($ 365,391)
($ 290,012)
74
EXHIBIT H-3
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Cash flows from operating activities:
operating income
Adjustments to reconcile operating income
to net cash provided by operating activities:
Depreciation and amortization
Changes in current assets and liabilities:
Inventory
Prepaid items
Accounts payable - trade
Accrued payroll
Total adjustments
Net cash provided by
operating activities
Cash flows from noncapital financing activities:
Operating transfers out to other funds
cash flows from capital and related
financing activities:
Acquisition of capital assets
Proceeds from sale of equipment
contributed capital
Net cash used for capital and
related financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
1990 1989
$ 130,236
$ 88,037
1,778,844
1,710,900
( 36,019)
13,669
( 181)
424
( 46,888)
( 25,350)
( 11396)
88
1,694,360
1,699,731
1,824,596
1,787,768
( 312,434)
( 312,434)
( 1,569,819) ( 2,339,101)
170,756 157,271
11,912 316,588
( 1,387,151) ( 1,865,242)
125,011 ( 389,908)
461,552 851,460
$ 586,563 $ 461,552
75
TRUST
AND AGENCY
FUNDS
Fiduciary Funds account for assets held by the City of Wichita Falls in
a trustee capacity or as an agent for other governmental units and/or
other funds. Trust and Agency Funds include the following:
Employee Benefit Trust
This expendable trust fund is used to account for and administer
group health insurance, which is self -insured by the City, and life
insurance for employees and covered dependents.
Wichita Falls Reinvestment Zone #1
This expendable trust fund is used to account for ad valorem taxes
levied on captured increments of growth in real property values in
a designated zone. The tax revenues derived from this increment are
to be spent on public improvements within this designated zone.
Social Security Fund
This agency fund is used to account for the collection and payment
of social security (FICA) taxes.
Payroll Fund
This agency fund is used to account for the collection of payroll
gross amounts from the various City funds and the distribution of
payroll checks to city employees.
Tax Collection Fund
This agency fund is used to account for the collection and payment
of ad valorem taxes to the City Is General and Debt service Funds, the
Wichita Falls Independent School District, and Midwestern State
University.
Accounts Pavable Fund
This agency fund is used to account for the collection of monies from
the various City funds, and the payment of those monies to vendors
for goods and services rendered.
Deferred Compensation Fund
This agency fund is used to account for contributions made by the
City and employees to a tax deferred savings plan and the subsequent
disbursement of contributions and interest earned upon retirement,
death or termination of employment.
RE
ASSETS
Cash and cash equivalents
Investments
Receivables:
Taxes and assessments
Government agencies
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade
Payable to government agencies
Estimated health claims payable
other liabilities
Total liabilities
Fund balance (deficit):
Designated for subsequent years expenditures
Undesignated
Total fund balance (deficit)
Total liabilities and fund balance
EXHIBIT I-1
CITY OF WICHITA FALLS, lgAB
TEUST AND AGENCY FUMS
Co1®I937G BALAWCI sHQT
EEFYODBEH 30, 1990
WITH CO WARATIVE TOTALS AT SEPTK o 30, 1989
Expendable Trust Funds Agency Funds
Employee Wichita Falls
Benefit Reinvestment Social Tax Accounts Deferred Totals
Trust Zone #1 security Payroll Collection Payable Compensation 1990 1989
$361,716 $38,992 $ - $ - $ 40,287 $ - $ - $ 440,995 $ 503,117
- - - - - - 998,555 998,555 834,143
2,284 - - 2,756,664 - - 2,758,948 2,835,958
- - - - - - - 16,556
361 726 11IL271 1- $ jjaL6j951 L_- 998 555 $4,198,498 $46189, 774
$ 18,589
S - $ -
$ - $ 38,587 $ -
-
- -
- 2,756,664 -
316,546
- -
- - -
422
1,700
335,557
2,796,951
26,159
41,276 -
- - -
26,159
41,276 -
- - -
$3616 716
$41,276 $ -
$ - $26796,951
S - S 57,176 $ 339,893
2,756,664 2,834,523
316,546 186,863
998,555 1,000,677 836,269
998,555 4,131,063 4,197,548
67,43S 14,549
( 22,323)
- 67,435 ( 7,774)
$998,555 $46198,498 64,189, 774
EXHIBIT I-2
CITY OF WICHITA FALLS, TEXAS
EXPENDABLE TRUST FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 1990
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1989
Revenues:
Ad valorem taxes
Contributions
Total revenues
Expenditures:
Current:
Administrative services
division
Excess of revenues over
expenditures
Fund balance (deficit) -
beginning
Fund balance (deficit) - ending
Employee Wichita Falls
Benefit Reinvestment
Trust Zone #1
$ - $27,129
2,336,328 -
2,336,328 27,129
2,287,846
402
48,482
26,727
( 22,323)
14,549
$ 26,159
$41,276
Totals
1990 1989
$ 27,129 $ 10,744
2,336,328 2,110,748
2,363,457 2,121,492
2,288,248 2,072,960
75,209 48,532
( 7,774) ( 56,306)
$ 67,435 (S 7,774)
77
EXHIBIT I-3
(Page 1 of 3)
CITY OF WICHITA FALLS, TEXAS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED SEPTEMBER 30, 1990
SOCIAL SECURITY FUND
ASSETS
Cash and cash equivalents
Receivables:
other City funds
Government agencies
other
Total assets
LIABILITIES
Accounts payable - trade
Payable to other City funds
Total liabilities
PAYROLL FUND
ASSETS
cash and cash equivalents
Receivables:
other City funds
Government agencies
Total assets
LIABILITIES
Accounts payable - trade
Payable to other city funds
Total liabilities
Balance
October 1,
1989
Balance
September 30,
Additions Deductions 1990
$ 3,341,735
$ 3,457,747 $ -
3,239,788
3,239,788 -
106,410
106,410 -
59,604
59,604 -
$ 6,747,537
$ 6,863„549 $ -
$ 116,012 $ 3,282,131 $ 3,398,143 $ -
- 3,398,143 3,398,143 -
$ 116,012 $ 6,680,274 $ 6,,796,286 �S -
$ 73,644 $23,861,854 $23,935,498
- 23,280,334 23,280,334
- 581,836 581,836
$ 73,644 $47,724,024 $47,797,668
$ 73,644 $ - $ 73,644 $ -
- 1,643,083 1,643,083 -
$ 73,644 $ 1,643.083 $ 1,716,727 $ -
78
EXHIBIT I-3
(Page 2 of 3)
CITY OF WICHITA FALLS, TEXAS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1990
Balance
October 1,
1989
TAX COLLECTION FUND
Balance
September 30,
Additions Deductions 1990
ASSETS
cash and cash equivalents
$ 132,524
$37,236,655
$37,328,892
Receivables:
Taxes and assessments
2,834,523
21,599,907
21,677,766
Other City funds
-
3,809
3,809
Total assets
$2,9, 67,047
$58,840,371
$59,010,467
LIABILITIES
Accounts payable - trade
$ 130,824
$26,351,675
$26,443,912
Payable to government agencies
2,834,523
21,599,907
21,677,766
Payable to other City funds
-
2,944,656
2,944,656
other liabilities
1,700
_
_
Total liabilities
$2,967,047
$50,896,238
$51,066,334
ACCOUNTS PAYABLE FUND
ASSETS
Cash and cash equivalents $ _
Receivables:
Other City funds _
Total assets $ _
LIABILITIES
Payable to other City funds $ _
Total liabilities S _
$ 40,287
2,756,664
$2,796,951
$ 38,587
2,756,664
1,700
$2,796,951
$34,021,447
$34,021,447
$ _
33,846,363
33,846,363
_
$67,867,810
$67,867,810
$
$ 209,967
$ 209,967
$ _
$ 209,967
$ 209,967
$ _
79
EXHIBIT I-3
(Page 3 of 3)
CITY OF WICHITA FALLS, TEXAS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1990
DEFERRED COMPENSATION FUND
ASSETS
Investments
Total assets
LIABILITIES
other liabilities
Total liabilities
TOTALS - ALL AGENCY FUNDS
ASSETS
Cash and cash equivalents
Investments
Receivables:
Taxes and assessments
other City funds
Government agencies
Other
Total assets
LIABILITIES
Accounts payable - trade
Payable to other City funds
Payable to government agencies
other liabilities
Total liabilities
Balance Balance
October 1, September 30,
1989 Additions Deductions 1990
$ 834,143
$
164,412
$
- $
998,555
$ 834,143
$
164,412
$
- $
998,555
$ 834,143
$
164,412
$
- $
998,555
$ 834,143
$
164,412
$
- $
998,555
$ 322,180 $ 98,461,691 $ 98,743,584 $ 40,287
834,143 164,412 - 998,555
2,834,523 21,599,907 21,677,766 2,756,664
- 60,370,294 60,370,294 -
688,246 688,246 -
- 59,604 59,604 -
$3,990,846 $181,344,154 $181,539,494 $3,795,506
$ 320,480 $ 29,633,806 $ 29,915,699 $ 38,587
- 8,195,849 8,195,849 -
2,834,523 21,599,907 21,677,766 2,756,664
835,843 164,412 - 1,000,255
$3„990,846 $ 59,593,974 $ 59,789,314 $3,795,506
80
SUPPORTING
SCHEDULES
EXHIBIT J-1
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDED DEBT AND INTEREST MATURITIES
SEPTEMBER 30, 1990
Fiscal Year
General Obliqation
Bonds
Water and Sewer Revenue
Bonds
Ending
Serial Bond
Interest
Total Bonds
Serial Bond
Interest
Total Bonds
September 30,
Maturities
on Bonds
and Interest
Maturities
on Bonds
and Interest
Total
1991
$ 710,000
$ 1,575,615
$ 2,285 615
$ 680,000
r
$ 1,892 102
r$
$ 2,572,102
4,857,717
1992
755,000
1,531,240
2,286,240
725,000
1,872,955
2,597,955
4,884,195
1993
805,000
1,482,165
2,287,165
1,075,000
1,822,205
2,897,205
5,184,370
1994
860,000
1,427,827
2,287,827
1,150,000
1,749,905
2,899,905
5,187,732
1995
920,000
1,367,627
2,287,627
1,230,000
1,670,790
2,900,790
5,188,417
1996
985,000
1,300,927
2,285,927
1,310,000
1,584,345
2,894,345
5,180,272
1997
1,060,000
1,227,052
2,287,052
1,415,000
1,490,214
2,905,214
5,192,266
1998
1,140,000
1,145,963
2,285,963
1,510,000
1,387,549
2,897,549
5,183,512
O0 1999
1,230,000
1,057,043
2,287,043
1 625 000
r .
1,276,499
2,901,499
5 188 542
r ,
2000
1,330,000
959,873
2,289,873
1,451,401
1,156,270
2,607,671
4,897,544
2001
1,435,000
853,473
2,288,473
1,410,000
1,042,512
2,452,512
4,740,985
2002
1,550,000
737,955
2,287,955
1,525,000
928,302
2,453,302
4,741,257
2003
1,670,000
613,180
2,283,180
1,650,000
B03,252
2,453,252
4,736,432
2004
1,805,000
477,910
2,282,910
1,785,000
667,952
2,452,952
4,735,862
2005
1,955,000
331,705
2,286,705
1,930,000
520,690
2,450,690
4,737,395
2006
2,115,000
172,373
2,287,373
2,090,000
361,465
2,451,465
4,738,838
2007
-
-
-
2,265,000
187,995
2,452,995
2,452,995
20,325„000
$16,261,928
$36,586,928
$24„826,401
$20,415,002
$45,241,403
$81,828,331
00
Iv
General obligation bonds:
General obligation
Refunding Bonds,
Series 1986
Total general obligation
bonds
Interest Rates
and (Dates)
5.0, 5.25, 5.5, 6.0,
6.25, 6.5, 6.75, 7.0,
7.25, 7.5, 7.65, 7.8,
7.9, 8.0, 8.05, 8.1,
8.15
(3/1, 9/1)
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE
SEPTEMBER 30, 1990
Final Annual
Issue Maturity Serial
Date Date Payments
7/01/86 9/01/06 $ 305,000 (1987)
605,000 (1988)
635,000 (1989)
670,000 (1990)
710,000 (1991)
755,000 (1992)
805,000 (1993)
860,000 (1994)
920,000 (1995)
985,000 (1996)
1,060,000 (1997)
1,140,000 (1998)
1,230,000 (1999)
1,330,000 (2000)
1,435,000 (2001)
1,550,000 (2002)
1,670,000 (2003)
1,805,000 (2004)
1,955,000 (2005)
2,115,000 (2006)
EXHIBIT J-2
(Page 1 of 2)
Bonds
Retired or
Authorized Issued Refunded Outstandinq
$22,540,000 $22,540,000 $ 2,215,000 $20,325,000
22,540,000 22,540,000 2,215,000 20,325,000
Co
W
EXHIBIT J-2
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE (CONT'D.)
SEPTEMBER 30, 1990
Final
Annual
Bonds
Interest
Rates
Issue
Maturity
Serial
Retired or
and (Dates)
Date
Date
Payments
Authorized
Issued
Refunded
Outstandinq
Revenue bonds:
Water and Sewer System
Refunding Revenue
Bonds, Series 1986
5.0,
5.5,
6.1, 6.4,
7/01/86
8/01/07
$ 395,000 (1987)
24,405,000
24,405,000
2,210,000
22,195,000
6.7,
7.0,
7.2, 7.4,
575,000 (1988)
7.6,
7.8,
7.9, 8.0,
600,000 (1989)
8.05,
8.1,
8.2, 8.25,
640,000 (1990)
8.3
680,000 (1991)
(2/1,
8/1)
725,000 (1992)
775,000 (1993)
835,000 (1994)
895,000 (1995)
960,000 (1996)
1,035,000 (1997)
1,120,000 (1998)
1,210,000 (1999)
1,305,000 (2000)
1,410,000 (2001)
1,525,000 (2002)
1,650,000 (2003)
1,785,000 (2004)
1,930,000 (2005)
2,090,000 (2006)
2,265,000 (2007)
Water and Sewer
Subordinate Lien
Revenue Bonds,
Series 1990-A,
5.5,
7.72,
7.17
7/01/90
8/01/00
300,000 (1993)
26,210,000
2,631,401
-
2,631,401
1990-B and 1990-C
(2/1,
8/1)
315,000 (1994)
335,000 (1995)
350,000 (1996)
380,000 (1997)
390,000 (1998)
415,000 (1999)
146,401 (2000)
Total revenue bonds
50f6l5,000
27,036,401
2,210,000
24,826,401
Total all bonds
173,155,000
149,576,401
$ 4,425.000
$45,151,401
EXHIBIT J-3
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE COVERAGE - REVENUE BONDS
SEPTEMBER 30, 1990
Water and sewer Revenue Bonds:
Net income (Exhibit G-2)
Add:
Revenue bond interest expense and paying
agent fees
Depreciation and amortization
operating transfers out
Net earnings for determining debt service coverage
Total principal and interest requirements
Number of years remaining to pay bonds
Average annual principal and interest requirement
Average annual debt service coverage
Maximum principal and interest requirement
Maximum debt service coverage
$ 2,519,658
$ 547,786
1,802,755
257,415 2,607,956
$ 5,127,614
$45,241,403
+ 17
$ 2,6611259
1.93
$ 2,905,214
1.76
84
EXHIBIT J-4
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
COMPARATIVE SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCES
SEPTEMBER 30, 1990 AND 1989
General Fixed Assets:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Motor vehicles and equipment
construction in progress
Total general fixed assets
Investment in General Fixed Assets:
From general obligation bonds
From local revenues and contributions
From federal government contributions
From unidentified sources
Total investment in general fixed assets
1990 1989
$14,473,953
$14,418,475
14,117,353
14,182,741
4,508,340
3,695,289
429,794
440,047
56,861
91,198
-
648,983
$33,586,301 33,476,733
$ 734,066
4,195,935
2,163,087
26,493,213
$33, 586 ,_301
$ 734,066
3,922,046
2,157,555
26,663,066
$33,476,733
85
0
General fixed assets,
October 1, 1989
Additions:
Expenditures from local
revenues and contributions
Expenditures from federal
government contributions
Completed construction
projects
Total additions
Total
Deductions:
Assets sold, traded or
retired
General fixed assets,
September 30, 1990
EXHIBIT J-5
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY SOURCES
FOR THE YEAR ENDED SEPTEMBER 30, 1990
Motor
Buildings
Machinery
Furniture
Vehicles
Land and
and
and
and
and
Construction
Total
Betterments
Improvements
Equipment
Fixtures
Equipment
In Proqress
$33,476,733
$14,418,475
$14,182,741
$3,695,289
$440,047
$ 91,198
$648,983
273,889
56,972
-
211,100
2,608
-
3,209
11,796
-
-
-
-
11,796
-
-
-
-
652,192
-
-
( 652,192)
285,685
56,972
-
863,292
2,608
11,796
( 648,983)
33,762,418
14,475,447
14,182,741
4,558,581
442,655
102,994
-
176,117
1,494
65,388
50,241
12,861
46,133
-
$33,586,301
$14,473,953
S14„117,353
$4„508„340
$429,794
$ 56,861
S -
00
v
EXHIBIT J-6
CITE OF ■ICHITA FALLS, TELS
GES23tLL FIB ASSETS
SOW301E OF 6CEMKRAL Y133M ASSETS - BF FUNCTION AND ACTIVITF
SEPTEMBEH 30, 1990
Motor
Buildings
Machinery
Furniture
Vehicles
Land and
and
and
and
and
Construction
Total
Betterments
Improvements
Equipment
Fixtures
Equipment
In Progress
Administrative services division:
Mayor and City Council
$ 12,863
$ -
$ -
$ 7,645
$ 5,218-
General Administration
1,924,620
1,376,335
336,872
137,384
43,404
30,625
-
Legal and City clerk
22,188
-
-
11,633
10,555
-
-
Personnel/Risk Management
112,865
-
-
102,572
10,293
-
Data Proceeeing
672,111
-
-
657,507
14,604
-
-
Martin Luther King Center
372,042
-
349,839
6,259
15,944
-
-
Library
973,010
610,870
291,443
26,907
43,790
-
-
Municipal Court
605,164
230,000
312,788
49,274
13,102
-
-
Farmer's Market
946
-
-
-
946
-
-
Midtown Manor
418,578
233,798
184,780
-
-
-
_
Auditorium/Activity Center
6,513,997
434,422
5,940,057
67,186
72,332
-
-
Housing
84,964
78,358
6,269
337
Total administrative services division
11,713,348
2,963,783
7,422.048
1,066,704
230,188
30,625
Police division:
Police
4,594,478
1,095,114
1,323,486
2,093,138
69,710
13,030
Fire division:
Fire
2,228,052
1881851
1,515,142
479,019
45,040
Parke and recreation division:
Parke
12,725,451
9,798,557
2,709,633
208,453
8,808
-
-
Golf
148,302
112,539
27,544
8,219
-
-
-
Cemetery
28,040
15,212
-
12,828
Total parks and recreation division
12,901,793
9,926,308
2,737,177
229,500
8,808
Accounting/finance division:
Accounting/finance
34,457
-
-
20,220
14,337
-
-
Tax
14,070
-
-
11,641
2,429
Total accounting/finance division
48,527
-
-
31,761
16,766
Planning division:
Planning
97,300
-
-
71,876
13,628
11,796
Public works division:
Engineering
314,277
111,120
19,087
170,934
11,726
1,410
-
Inspection
62,263
13,059
-
45,118
4,086
-
-
Street Maintenance
197,583
29,937
86,373
75,975
5,298
Total public works division
574,123
154,116
105,460
292,027
21,110
1,410
Health division:
Health
1,299,422
111,231
976,775
193,198
18,218
Traffic and transportation division:
Traffic Engineering
129,258
34,550
37,265
51,127
6,326
Total general fixed -seta
$33,586,301
$14,473,953
$14,117,353
$4,508,340
$429,794
$ 56,861
$
EXHIBIT J-7
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED
ASSETS
SCHEDULE OF CHANGES IN GBNBRAL FIXED ASSETS - BY
FUNCTION AND ACTIVITY
FOR THE YEAR ENDED
SEPTEMBER 30,
1990
Beginning
Ending
Balance
Transfers
Balance
10/1/89
Additions
Deletions
In (Out)
9/30/90
Administrative services division:
Mayor and City Council
$ 12,863
$ -
$ -
$ -
$ 12,863
General Administration
1,900,250
56,972
39,871
7,269
1,924,620
Legal and City Clerk
23,800
-
400
( 1,212)
22,188
Personnel/Risk Management
94,373
17,500
-
992
112,865
Data Processing
726,745
2,671
25,435
( 31,870)
672,111
Martin Luther Ring Center
372,042
-
-
-
372,042
Library
972,030
6,142
5,162
-
973,010
Municipal Court
578,791
7,876
-
18,497
605,164
Farmer's Market
946
-
-
-
946
Midtown Manor
418,578
-
-
-
418,578
Auditorium/Activity Center
6,521,616
-
7,619
-
6,513,997
Housing
84,964
-
-
-
84,964
Total administrative
services division
11,706,998
91,161
78.487
( 6,324)
11,713,348
Police division:
Police
4,540.280
55,636
2,163
725
4.594,478
Fire division:
Fire
2,130,346
97,706
-
-
2,228,052
Parks and recreation division:
Parks
12,805,309
3,674
83,752
220
12,725,451
Golf
148,302
-
-
-
148,302
Cemetery
28,040
-
-
-
28,040
Total parks and recreation
division
12.981,651
3,674
83,752
220
12.901,793
Accounting/finance division:
Accounting/finance
32,076
-
1,598
3,979
34,457
Tax
15,052
-
1.580
598
14.070
Total accounting/finance
division
47,128
-
3,178
4,577
48,527
Planning division:
Planning
89.215
13,159
8,537
3,463
97,300
Public works division:
Engineering
299,286
18,742
-
( 3,751)
314,277
Inspection
62,263
-
-
-
62,263
Street Maintenance
196.084
1.499
-
-
197.583
Total public works division
557,633
20,241
-
( 3,751)
574,123
Health division:
Health
1,294,224
4,108
-
11090
1,299,422
Traffic and transportation division:
Traffic Engineering
129,258
-
-
-
129,258
Total general fixed assets
$33,476,733
S 285,685
$176,117
$ -
$33,586,301
as
EXHIBIT J-8
CITY OF WICHITA FALLS, TEXAS
AIRPORT FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1990
Plant and Equipment:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total plant and equipment
Accumulated Depreciation:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total accumulated
depreciation
Net plant and equipment
Balance Balance
10/1/89 Additions Deletions 9/30/90
$1,468,175 $ - $ - $1,468,175
1,451,662 - - 1,451,662
13,608 2,934 - 16,542
12,477 - - 12,477
2,945,922 2,934 - 2,948,856
579,354
58,892 -
638,246
483,747
29,852 -
513,599
8,615
1,372 -
9,987
8,347
795 -
9,142
1,080,063
90,911 -
1,170,974
$1,865,859_ ($
87,97.7) -
�1,777,882
89
EXHIBIT J-9
CITY OF WICHITA FALLS, TEXAS
TRANSIT FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1990
Plant and Equipment:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total plant and equipment
Accumulated Depreciation:
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total accumulated
depreciation
Net plant and equipment
Balance Balance
10/1/89 Additions Deletions 9/30/90
$ 61,925 $ - $ - $ 61,925
626,867 - - 626,867
67,822 - - 67,822
6,129 - - 6,129
762,743 - - 762,743
44,680 7,989 - 52,669
33,395 6,099 - 39,494
2,415 418 - 2,833
80,490 14,506 -
$ 682,253 (S 14,506) $ -
94,996
$ 667,747
we
EXHIBIT J-10
CITY OF WICHITA FALLS, TEXAS
SANITATION FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1990
Plant and Equipment:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total plant and equipment
Accumulated Depreciation:
Land and betterments
Buildings and improvements
Machinery and equipment
Furniture and fixtures
Total accumulated
depreciation
Net plant and equipment
Balance Balance
10/1/89 Additions Deletions 9/30/90
$ 653,692 $ -
$ - $ 653,692
2,298,370 -
- 2,298,370
92,206 -
- 92,206
4,750 -
- 4,750
3,049,018 -
- 3,049,018
15,161
1,805
- 16,966
330,184
48,854
- 379,038
47,940
8,270
- 56,210
3,712
151
- 3,863
396,997
59,080
- 456,077
$2,6529021 (S
59,080) $
- $2 592,941
91
EXHIBIT J-11
CITY Or ■ICHITA rALLs, TEIAB
IDITER Am SEWER FOND
PLa1T, EQUIPMENT Am DEPRECIATION
FOR T'NE YEAR BODED SEPTEMBER 30, 1990
Plant and Equipment
Accumulated Depreciation
Met Plant
Balance
Transfers
Balance
Balance
Balance
and
10/1/89
Additions
Deletions
In (Out)
9/30/90
10/1/89
Additions
Deletions
9/30/90
Equipment
Water Department:
Land and betterments
$22,329,674
$
-
$ -
S -
$ 22,329,674
$ 4,568,097
$ 229,639
$ -
$ 4,797,736
$17,531,930
Buildings, systems and improvements
47,210,180
761,277
-
91,216
48,062,673
14,765,578
872,675
-
15,638,253
32,424,420
Machinery and equipment
2,334,826
31,522
15,564
-
2,350,784
1,382,935
44,681
10,601
1,417,015
933,769
Furniture and fixtures
22,356
-
3,297
-
19,059
15,817
1,381
2,406
14,792
4,267
Motor vehicles
3,670
5,650
5,650
-
3,670
3,670
283
283
3,670
-
Construction in progress
91,216
-
-
( 91,216)
-
-
-
-
-
-
Total Water Department
$71,991,922
$
798,449
$ 24,511
$ -
$ 72„765„860
$20,736,097
L1,1LB 659
13 290
$21,871,466
$50,894,394
�D Sever Department:
N Land and betterments
$ 85,214
$
-
$ -
S -
$ 85,214
$ -
$ -
$ -
$ -
S 05,214
Buildings, systems and improvements
22,204,864
158,069
-
88,563
22,451,496
10,189,969
603,834
-
10,793,803
11,657,693
Machinery and equipment
213,961
10,924
601
-
224,284
184,859
6,649
531
190,977
33,307
Furniture and fixtures
2,448
-
-
-
2,448
965
133
-
1,098
1,350
Construction in progress
2,007.932
3,731,204
-
( 88,563)
5,650,573
-
-
-
-
5,650,573
Total Sever Department
$24,514, 419
$3,
900, 197
$ 601
$ -
$ 28„414,015
$10,375,793
L610 616
531
$10,985,878
$17,428,137
Combined Water and Sever Departments:
Land and betterments
$22,414,888
$
-
$ -
$ -
$ 22,414,888
$ 4,568,097
$ 229,639
$ -
$ 4,797,736
$17,617,152
Buildings, systems and improvements
69,415,044
919,346
-
179,779
70,514,169
24,955,547
1,476,509
-
26,432,056
44,082,113
Machinery and equipment
2,548,787
42,446
16,165
-
2,575,068
1,567,794
51,330
11,132
1,607,992
967,076
Furniture and fixtures
24,804
-
3,297
-
21,507
16,782
1,514
2,406
15,890
5,617
Motor vehicles
3,670
5,650
5,650
-
3,670
3,670
283
283
3,670
-
Construction in progress
2,099,148
3,731,204
-
( 179,779)
5,650,573
-
-
-
-
5,650,573
Total combined Water and
Sever Departments
$96,506,341
$4,698,646
25 112
$ -
$101,179,875
$31,111,890
1 759 275
$ 13, 821
$32,857,344
$68„322,531
EXHIBIT J-12
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1990
Plant and EQUipment:
Land and betterments
Buildings and improvements
Furniture and fixtures
Motor vehicles and equipment
Total plant and equipment
Accumulated Depreciation:
Buildings and improvements
Furniture and fixtures
Motor vehicles and equipment
Total accumulated
depreciation
Net plant and equipment
Balance Balance
10/1/89 Additions Deletions 9/30/90
$ 433,658
$ -
$ -
$ 433,658
4,008,948
-
-
4,008,948
5,974
-
-
5,974
15,379,165
1,569,819
791,182
16,157,802
19,827,745
1,569,819
791,182
20,606,382
479,247
80,179
-
559,426
3,939
265
-
4,204
7,666,416
1,698,400
727,245
8,637,571
8,149,602
1,778,844
727,245
9,201,201
$11,678,143 ($ 209,025 63,937 11 405,181
93
Wichita
TEXAS
STATISTICAL
SECTION
(UNAUDITED)
\Wichita
TEXAS
EXHIBIT K-1
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION (GENERAL FOND ONLY) -
LAST TEN FISCAL YEARS (UNAUDITED)
Finance
Fiscal
Administrative
Parks and
and
Public
Traffic and
Year
Services
Police
Fire
Recreation
Accounting
Planning
Works
Health
Transportation
Total
1980-1981
$4,640,642
$4,233,007
$2,950,147
$2,286,817
$257,656
$1,092,712
$9,236,190
$1,119,781
$1,516,665
$27,333,617
1981-1982
4,546,379
5,015,271
3,341,335
2,911,708
577,133
1,125,120
8,524,692
1,482,774
1,562,567
29,086,979
1982-1983
5,001,439
5,685,793
3,883,766
2,584,235
563,936
770,007
7,815,997
1,320,500
1,502,279
29,127,952
1983-1984
7,280,506
6,169,438
4,321,815
2,661,586
480,639
965,744
6,711,669
1,432,771
2,037,931
32,062,099
1984-1985
5,569,049
6,357,917
4,923,585
2,566,444
503,270
339,011
4,751,428
1,655,368
1,381,583
28,047,655
1985-1986
4,895,221
7,422,813
4,601,651
2,396,365
525,034
405,519
5,220 861
1,732,984
1,276,928
28,477,376
1986-1987
4,972,244
7,242,687
4,844,086
2,928,346
469,576
269,662
5,233,671
1,939,250
1,296,474
29,195,996
1987-1988
4,548,054
7,578,322
5,096,563
2,936,646
432,777
322,779
3,837,350
1,752,420
1,217,950
27,722,861
1988-1989
4,514,948
7,677,500
5,240,285
2,478,736
418,733
336,887
4,232,744
1,830,962
1,249,506
27,980,301
1989-1990
4,655,580
8,359,078
5,360,935
2,388,480
428,310
326,867
4,224,499
1,933,354
1,197,787
28,874,890
M,
EXHIBIT K-2
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL REVENUES BY SOURCE (GENERAL FUND ONLY) -
LAST TEN FISCAL YEARS (UNAUDITED)
Charges
Licenses
Fiscal
for
and
Intergovernmental
Miscellaneous
Year
Taxes
services
Permits
Fines
Revenue
Revenue
Total
1980-1981
$15,617,860
$3,414,456
$235,263
$539,842
$2,568,732
$1,215,997
$23,592,150
1981-1982
16,477,646
4,272,199
234,446
689,301
1,543,277
1,621,773
24,838,642
1982-1983
18,023,712
4,354,410
284,438
808,502
683,388
1,292,813
25,447,263
1983-1984
20,176,122
5,449,200
342,431
753,274
562,519
1,418,298
28,701,844
1984-1985
21,328,803
1,904,610
463,613
815,148
443,014
1,637,783
26,592,971
1985-1986
21,943,688
1,117,348
418,823
836,851
479,325
1,348,003
26,144,038
1986-1987
21,498,718
1,164,667
353,679
840,467
641,949
1,080,753
25,580,233
1987-1988
22,195,718
1,295,629
598,915
885,805
704,187
1,346,153
27,026,407
1988-1989
23,035,386
1,261,555
440,857
834,328
791,383
1,597,558
27,961,067
1989-1990
23,736,091
1,234,406
440,088
900,404
779,466
1,453,043
28,543,498
EXHIBIT K-3
CITY OF WICHITA FALLS, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS -
LAST TEN FISCAL YEARS (UNAUDITED)
Total
Collections
Percent
Delinquent
as Percent
Fiscal
Total
Current Tax
of Levy
Tax
Total Tax
of Current
Year
Tax Lew
Collections
Collected
Collections
Collections
Lew
1980-1981
$ 9,315,184
$ 9,031,661
96.96E
$152,342
$ 9,184,003
98.59%
1981-1982
10,896,934
10,508,375
96.43%
181,577
10,689,952
98.10E
1982-1983
12,490,900
11,900,747
95.28%
249,522
12,150,269
97.28%
1983-1984
14,050,573
13,524,855
96.26%
301,973
13,826,828
98.41%
1984-1985
14,199,969
13,722,790
96.64%
497,660
14,220,450
100.14%
1985-1986
13,940,609
13,479,038
96.69%
399,623
13,878,661
99.56%
1986-1987
14,401,856
13,743,656
95.43%
378,280
14,121,936
98.06%
1987-1988
14,508,804
13,998,858
96.49%
487,072
14,485,930
99.84%
1988-1989
14,664,571
14,123,525
96.31%
387,088
14,510,613
98.95%
1989-1990
14,896,248
14,515,449
97.44%
431,755
14,947,204
100.34%
96
�O
V
EXHIBIT K-4
CITY OF WICHITA FALLS, TEXAS
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY -
LAST TEN FISCAL YEARS (UNAUDITED)
Ratio of Total
Assessed
Real
Property
Personal
Property
Total
to Total
Fiscal
Assessed
Estimated
Assessed
Estimated
Assessed
Estimated
Estimated
Year
Value
Actual Value
Value
Actual Value
Value
Actual Value
Actual Value
1980-1981
$ 906,905,547
$ 906,905,547
$335,093,095
$335,093,095
$1,241,998,642
$1,241,998,642
100.00%
1981-1982
1,068,352,963
1,068,352,963
384,544,358
384,544,358
1,452,897,321
1,452,897,321
100.00%
1982-1983
1,324,181,729
1,324,181,729
478,256,955
478,256,955
1,802,438,684
1,802,438,684
100.00%
1983-1984
1,432,631,714
1,432,631,714
449,813,802
449,813,802
1,882,445,516
1,882,445,516
100.00%
1984-1985
1,587,368,510
1,587,368,510
468,310,782
468,310,782
2,055,679,292
2,055,679,292
100.00%
1985-1986
1,737,427,089
1,737,427,089
489,263,121
489,263,121
2,226,690,210
2,226,690,210
100.00%
1986-1987
1,809,871,886
1,809,871,886
505,911,411
505,911,411
2,315,783,297
2,315,783,297
100.00%
1987-1988
1,789,937,697
1,789,937,697
484,882,457
484,882,457
2,274,820,154
2,274,820,154
100.00%
1988-1989
1,789,389,697
1,789,389,697
509,853,169
509,853,169
2,299,242,866
2,299,242,866
100.00%
1989-1990
1,789,161,491
1,789,161,491
509,996,744
509,996,744
2,299,158,235
2,299,158,235
100.00%
EXHIBIT K-5
CITY OF WICHITA FALLS, TEXAS
PROPERTY TAX RATES AND TAX LEVIES - ALL OVERLAPPING GOVERIMENTS -
LAST TEN FISCAL YEARS (UNAUDITED)
Wichita
Fiscal City of Falls City View Wichita
Year Wichita Falls I.S.D. (1) I.S.D. (2) CountY Total
Tax Rates Per $100 Valuation
1980-1981
$ .75
$ .74
$1.07
$ .87
$3.43
1981-1982
.75
.73
1.07
.31
2.86
1982-1983
.69
.69
.69
.22
2.29
1983-1984
.75
.74
.67
.25
2.41
1984-1985
.69
.74
.58
.25
2.26
1985-1986
.63
.87
.64
.24
2.38
1986-1987
.62
.82
.75
.24
2.43
1987-1988
.64
.82
.72
.25
2.43
1988-1989
.64
.85
.81
.27
2.57
1989-1990
.65
.92
.84
.28
2.69
Tax Levies
1980-1981
$ 9,315,184
$ 9,234,676
$402,354
$4,551,667
$23,503,881
1981-1982
10,896,934
10,427,882
402,523
4,551,700
26,279,039
1982-1983
12,490,900
12,233,330
488,457
6,858,581
32,071,268
1983-1984
14,050,573
13,541,058
487,548
7,254,768
35,333,947
1984-1985
14,199,969
14,642,156
479,099
7,680,915
37,002,139
1985-1986
13,940,609
18,631,889
538,827
7,763,760
40,875,085
1986-1987
14,401,856
18,270,216
669,201
7,916,250
41,257,523
1987-1988
14,508,804
18,063,909
660,750
8,188,119
41,421,582
1988-1989
14,664,571
19,273,667
708,713
8,913,815
43,560,766
1989-1990
14,896,248
20,682,300
776,012
9,431,648
45,786,208
Notes:
(1) Wichita Falls Independent School District - 98.49% in Wichita Falls city limits
(2) City View Independent School District - 75.25% in Wichita Falls city limits
98
EXHIBIT K-6
CITY OF WICHITA FALLS, TEXAS
TEN LARGEST TAXPAYERS (UNAUDITED)
SEPTEMBER 30, 1990
TaxDaver
Type of Business
Southwestern Bell
Telephone Utility
Texas Utilities
Electric Utility
JMB Group Trust III
Shopping Center
Sprague Electric
Manufacturing
Panhandle Manufacturing
Manufacturing
Wal-Mart Stores, Inc.
Retail Store
Siemens
Manufacturing
Wichita Falls Hotel
Hotel
Partnership
Robert Seabury
shopping center/
Entertainment
complex
Best Products
Retail Store
Totals
January 1, 1989
Assessed
valuation
$ 47,401,610
35,437,877
31,655,353
16,342,146
11,185,353
10,838,666
10,695,519
7,491,108
7,414,647
71216,904
$185,679,183
Percentage
of Total
Assessed
Valuation
2.06%
1.54%
1.37%
.71%
.48%
.47%
.47%
.32%
.32%
.31%
8.05%
99
EXHIBIT K-7
CITY OF WICHITA FALLS, TEXAS
SPECIAL ASSESSMENT COLLECTIONS (CAPITAL IMPROVEMENT ASSESSMENTS FUND) -
LAST TEN FISCAL YEARS (UNAUDITED)
Current
Current
Ratio of
Fiscal
Assessments
Assessments
Collections
Year
Due
Collected
to Amount Due
1980-1981
$718,281
$ 87,983
12.25%
1981-1982
625,599
323,627
51.73%
1982-1983
657,912
107,106
16.28%
1983-1984
656,093
216,304
32.97%
1984-1985
539,756
109,799
20.34%
1985-1986
499,695
36,960
7.40%
1986-1987
475,172
20,465
4.31%
1987-1988
454,730
20,530
4.51%
1988-1989
446,531
8,199
1.84%
1989-1990
438,376
8,155
1.86%
100
EXHIBIT K-8
CITY OF WICHITA FALLS, TEXAS
COMPUTATION OF LEGAL DEBT MARGIN (UNAUDITED)
SEPTEMBER 30, 1990
Total assessed property value per 1989 tax roll $2,299,158,235
Maximum tax levy* $2.25/$100
Current tax levy for 1989 tax year .6479/$100
Maximum tax levy in excess of 1989 tax levy 1.6021/$100
Total legal debt margin
$ 36,834,814
There is no debt limit established by law. The limit is, therefore, governed
by the City's ability to levy and collect taxes to service the outstanding
indebtedness. The City's maximum legal tax rate established under its
Charter is $2.25 per $100 assessed valuation. The 1989 tax rate is $ .6479
per $100 assessed valuation.
* Maximum tax levy established by City Charter
101
EXHIBIT K-9
Fiscal
Year
1980-1981
1981-1982
1982-1983
1983-1984
1984-1985
1985-1986
1986-1987
1987-1988
1988-1989
1989-1990
CITY OF WICHITA FALLS, TEXAS
RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE
AND NET GENERAL BONDED DEBT PER CAPITA - LAST TEN FISCAL YEARS (UNAUDITED)
Population
94,201
96,500
97,125
104,500
100,200
101,300
99,000
98,500
95,000
96,259
Assessed
Value
$1,241,998,642
1,452,897,321
1,802,438,684
1,882,445,516
2,055,679,292
2,226,690,210
2,315,783,297
2,274,820,154
2,299,242,866
2,299,158,235
Gross
General
Bonded Debt
$13,564,000
19,153,000
17,395,000
15,375,000
21,870,000
22,540,000
22,235,000
21,630,000
20,995,000
20,325,000
Less Debt
service
Funds
$467,080
633,207
705,727
929,646
235,914
245,043
269,301
400,423
584,800
694,935
Net General
Bonded Debt
$13,096,920
18,519,793
16,689,273
14,445,354
21,634,086
22,294,957
21,965,699
21,229,577
20,410,200
19,630,065
Ratio of
Net General
Bonded Debt
To Assessed
Value
1.05%
1.27%
.93%
.77%
1.05%
1.00%
.95%
.93%
.89%
.85%
Net General
Bonded Debt
Per Capita
$139
192
172
138
216
220
222
216
215
204
EXHIBIT K-10
CITY OF WICHITA FALLS, TEXAS
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO
TOTAL GENERAL EXPENDITURES - LAST TEN FISCAL YEARS (UNAUDITED)
Ratio of
Total
Debt Service
Fiscal
Total Debt
General
to General
Year
Principal
Interest
Service
Expenditures
Expenditures
1980-1981
$1,309,000
$ 633,791
$1,942,791
$27,333,617
7.11%
1981-1982
2,801,000
596,285
3,397,285
29,086,979
11.68%
1982-1983
1,758,000
1,480,829
3,238,829
29,127,952
11.12%
1983-1984
2,020,000
1,365,442
3,385,442
32,062,099
10.56%
1984-1985
1,855,000
1,242,282
3,097,282
28,047,655
11.04%
1985-1986
-
902,453
902,453
28,477,376
3.17%
1986-1987
305,000
1,980,711
2,285,711
29,195,996
7.83%
1987-1988
605,000
1,682,502
2,287,502
29,730,585
7.69%
1988-1989
635,000
1,650,740
2,285,740
27,980,301
8.17%
1989-1990
670,000
1,615,815
2,285,815
28,874,890
7.92%
103
EXHIBIT K-11
CITY OF WICHITA FALLS, TEXAS
COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT (UNAUDITED)
SEPTEMBER 30, 1990
Percentage
Amount
Gross
Applicable
Applicable
Taxing
Bonded Debt
to City of
to city of
Jurisdiction
Outstanding (1)
Wichita Falls (2)
Wichita Falls
City of Wichita Falls
$42,520,000
100.00%
$42,520,000
Wichita Falls Independent
School District
19,185,000
98.49%
18,895,307
Wichita County
2,185,000
77.23%
1,687,476
city view Independent
school District
655,000
75.25%
492,887
Burkburnett Independent
School District
8,235,000
1.16%
95,526
Total direct and
overlapping bonded debt
$72,780,000
$63,691,196
Sources:
(1) Listed taxing jurisdictions
(2) Herbert R. Smith, Inc.
104
EXHIBIT K-12
CITY OF WICHITA FALLS, TEXAS
REVENUE BOND COVERAGE - WATER AND SEWER REVENUE BONDS -
LAST TEN FISCAL YEARS (UNAUDITED)
Net Revenue
Fiscal
Gross
Operating
Available For
Debt
Service Reauirement
Year
Revenues
Expenses
Debt Service
Principal
Interest
Total
Coveraqe
1980-1981
$ 7,816,920
$4,973,291
$2,843,629
$740,000
$ 383,217
$1,123,217
2.53
1981-1982
8,404,142
5,630,728
2,773,414
790,000
339,840
1,129,840
2.45
1982-1983
9,238,268
5,995,783
3,242,485
900,000
540,487
1,440,487
2.25
1983-1984
11,035,301
6,190,623
4,844,678
900,000
494,164
1,394,164
3.47
0
In
1984-1985
12,261,580
7,022,561
5,239,019
-
1,470,435
1,470,435
3.56
1985-1986
13,114,194
8,525,382
4,588,812
440,000
1,932,837
2,372,037
1.93
1986-1987
12,838,637
8,607,888
4,230,749
395,000
2,061,283
2,456,283
1.72
1987-1988
14,232,676
8,427,051
5,805,625
575,000
1,882,973
2,457,973
2.36
1988-1989
13,596,068
7,728,457
5,867,611
600,000
1,851,348
2,451,348
2.39
1989-1990
13,841,627
8,714,013
5,127,614
640,000
1,814,748
2,454,748
2.09
EXHIBIT K-13
Fiscal
Year
1980-1981
1981-1982
1982-1983
1983-1984
1984-1985
1985-1986
1986-1987
1987-1988
1988-1989
1989-1990
CITY OF WICHITA FALLS, TEXAS
DEMOGRAPHIC STATISTICS -
LAST TEN FISCAL YEARS (UNAUDITED)
Estimated
Population (1)
94,201
96,500
97,125
104,500
100,200
101,300
99,000
98,500
95,000
96,259
Median
Household
Income (2)
$17,559
19,502
20,096
20,423
22,903
20,805
20,871
20,723
18,754
20,015
Education
Level (3)
13.1
13.1
13.2
13.3
13.3
13.2
13.2
13.1
13.1
13.1
School
Enrollment (3)
14,378
14,256
14,184
14,428
14,310
14,796
15,055
14,950
14,889
14,867
Unemployment
Rate (4)
4.1%
6.4%
7.1%
4.4%
5.9%
8.4%
7.8%
6.3%
5.7%
6.6%
Sources:
(1) City of Wichita Falls Planning Department for all years except 1989-1990 from
U.S. Bureau of Census
(2) Sales & Marketinq Manaqement magazine
(3) Wichita Falls I.S.D. - Educational level is grade equivalent of graduating
senior
(4) Texas Employment commission
106
EXHIBIT K-14
CITY OF WICHITA FALLS, TEXAS
PROPERTY VALUE, BUILDING PERMITS AND BANK DEPOSITS -
LAST TEN FISCAL YEARS (UNAUDITED)
Fiscal
Property
Building
Bank
Year
Value (1)
Permits (2)
Deposits (3)
1980-1981
$1,241,998,642
$82,811,494
$ 888,731,179
1981-1982
1,452,897,321
56,424,318
961,142,020
1982-1983
1,802,438,684
73,235,522
972,585,375
1983-1984
1,882,445,516
45,959,328
1,011,202,125
1984-1985
2,055,679,292
68,942,474
1,020,034,687
1985-1986
2,226,690,210
40,951,045
1,086,899,487
1986-1987
2,315,783,297
31,161,722
1,107,880,373
1987-1988
2,274,820,154
39,510,717
1,075,698,257
1988-1989
2,299,242,866
34,316,901
1,070,274,273
1989-1990
2,299,158,235
59,603,631
Sources:
(1) City of Wichita Falls Tax Department
(2) City of Wichita Falls Planning Department
(3) Wichita Falls Times/Record News
* Local branches of NCNB and Bank one are not required, nor have they
chosen, to release deposit information on individual branches. Therefore,
total bank deposit information is not available at September 30, 1990.
107
EXHIBIT K-15
CITY OF WICHITA FALLS, TEXAS
MISCELLANEOUS STATISTICAL DATA (UNAUDITED)
SEPTEMBER 30, 1990
Date of incorporation
Form of government
Area
Miles of streets
Number of street lights
Fire protection:
Number of stations
Number of firemen and officers
Police protection:
Number of stations
Number of police officers
Municipal water department:
Number of consumers - active
Average daily consumption
Miles of water mains
Sewers:
Number of customers - active
Miles of sanitary sewers
Miles of storm sewers
Building permits issued:
Number issued
Amount issued
Recreation and culture:
Number of parks
Number of golf courses
Number of libraries
Number of volumes
Employees - full-time
1889
Council - Manager
53 square miles
580.2
6,482
9
149
1
163
31,311
21,550,000 gallons treated water
800
28,767
650
200
6,198
$59,603,631
41 with 1,104 acres
4
1
187,000
1,010
108
EXHIBIT K-16
(Page 1 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED)
SEPTEMSER 30, 1990
Insurance
code
A Policy:
Company:
Policy No.:
Policy No.:
Policy Period:
Perils:
Coverages:
Deductible:
Coinsurance:
Premium:
Building and Contents
Fireman's Fund
XFX66155 41
Extra Expense XFX66155 40
October 1, 1990 to October 1, 1991
Fire, extended coverage, vandalism
and malicious mischief, including
difference in condition
$32,466,795 Building and Contents
$ 50,000 Extra Expense
$ 100,000
Agreed value, Replacement Cost
....................................$17,000
B Policy:
Boiler and Machinery
Company:
Fidelity & Casualty Insurance Company
of New York
Policy No.:
BM D 2 78 64 46
Policy Period:
October 1, 1990 to October 1, 1991
Perils:
comprehensive Blanket
Coverage:
$5,000,000 Per Occurrence
Deductible:
$2,500
Coinsurance
N/A
Premium:
....................................$10,545
C Policy:
Electronic Data Processing Equipment
Company:
Fidelity & Casualty Insurance Company
of New York
Policy No.:
EEP2 70 93 51
Policy Period:
October 1, 1990 to October 1, 1991
Perils:
All Risks
Coverage:
$633,200
Deductible:
$ 500
Coinsurance:
N/A
Premium:
....................................$ 4,713
D Policy:
Excess worker's Compensation and
Employer's Liability
Company:
Aetna Insurance Company
Policy No.:
18 XC 38 SCA
Policy Period:
October 1, 1990 to October 1, 1991
Perils:
worker's Compensation - Employer's
Liability
Coverage:
Statutory Limits worker's Compensation
$1,000,000 Employer's Liability
Deductible:
$500,000
Coinsurance:
N/A
Premium:
....................................$39,009
109
EXHIBIT K-16
(Page 2 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1990
Insurance
Code
E Policy:
Airport Liability
Company:
sedgwick James of Texas, Inc.
Policy No.:
636GLA45-33595
Policy Period:
October 1, 1990 to October 1, 1991
Perils:
owner's, Landlord, and Tenants' Liability
Coverage:
$1,000,000 CSL
Deductible:
None
Coinsurance:
N/A
Premium:
....................................$ 1,800
F Policy:
Public official Bond
Company:
Fidelity & Deposit Company
Bond No.:
09688496
Bond Period:
June 27, 1990 to June 27, 1991
Insured:
City Manager - Jim Berzina
Coverage:
$25,000
Premium:
....................................$ 88
G Policy:
Public official Bond
Company:
Fidelity & Deposit company
Bond No.:
30237391
Bond Period:
August 1, 1990 to August 1, 1991
Insured:
Purchasing Agent - Peggy Gahagan
Coverage:
$2,500
Premium:
....................................$ 50
H Policy:
Blanket Employees' Dishonesty - Theft,
Disappearance Coverage
Company:
Fidelity & Deposit Company
Bond No.:
CCP 9367053
Bond Period:
January 15, 1991 to January 15, 1992
Insured:
Public Employee Blanket - Water office
Manager
Coverages:
$10,000 Inside Premises
$ 3,000 outside Premises
$10,000 Per Employee
$15,000 Excess Limit (Water office Manager)
Premium:
....................................$ 1,485
I Policy:
Public official Bond
Company:
Fidelity & Deposit Company
Bond No.:
FD-05679944
Bond Period:
January 5, 1991 to January 5, 1992
Insured:
City Clerk - Wilma Thomas
Coverage:
$25,000
Premium:
....................................$ 88
110
EXHIBIT K-16
(Page 3 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTENBER 30, 1990
Insurance
Code
J Policy:
Public official Bond
Company:
Aetna Insurance Company
Bond No.:
S100138239BCA
Bond Period:
April 22, 1990 to April 22, 1991
Insured:
Tax Assessor/Collector - Art DeWitt
Coverage:
$50,000
Premium:
....................................$
250
K Policy:
Public official Bond
Company:
Aetna Insurance Company
Bond No.:
S100084654BCA
Bond Period:
August 6, 1990 to August 6, 1991
Insured:
Director of Public works - George Bonnett
Coverage:
$2,500
Premium:
....................................$
50
L Policy:
Public official Bond
Company:
Aetna Insurance Company
Bond No.:
S100179467BCA
Bond Period:
July 16, 1990 to July 16, 1991
Insured:
Municipal Court Administrator -
Don vanadore
Coverage:
$2,500
Premium:
....................................$
50
M Policy:
Public official Bond
Company:
Aetna Insurance Company
Bond No.:
S18072205BCA
Bond Period:
March 5, 1990 to March 5, 1991
Insured:
Director of Finance - Fred Werner
Coverage:
$25,000
Premium:
....................................$
88
N Policy:
Public official Bond
Company:
Aetna Insurance Company
Bond No.:
S100648903BCA
Bond Period:
May 21, 1990 to May 21, 1991
Insured:
Municipal Court Judge - Larry Gillen
Coverage:
$2,500
Premium:
....................................$
50
111
EXHIBIT K-16
(Page 4 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1990
Insurance
Code
0 Policy:
Health Insurance
Company:
Coordinated Benefits Systems
Policy No.:
City of Wichita Falls Employee
Benefits Trust
Policy Period:
October 1, 1990 through September 30, 1991
Perils:
Illness and Accidental Injury
(Non -work Related)
Coverage:
$1,000,000 Lifetime Maximum
Deductible:
$250 Annually Per Person (Maximum 3
Family Members)
Coinsurance:
Coinsurance coverage begins when a limit of
20% reaches $2,500 yearly, then insurance
company pays 100% of eligible expenses.
Premium:
.................Annual Estimate $1,700,000
P Policy:
Dental Insurance
Company:
Coordinated Benefits systems
Policy No.:
City of Wichita Falls Employee
Benefits Trust
Policy Period:
October 1, 1990 through September 30, 1991
Perils:
Basic Dental Coverage with Orthodontics
for Children Under 19
Coverages:
$1,000 Annual Maximum - Basic Coverage
$1,000 Lifetime Maximum - orthodontics
Deductible:
Basic Coverage - $100 Annually Per Person
(Maximum 3 Family Members); No Deductible
for orthodontics
Coinsurance:
80-20 Basic, 50-50 Orthodontics,
50-50 Periodontics
Premium:
...................Annual Estimate $150,000
4 Policy:
Life Insurance
Company:
Aetna Life and Casualty
Policy No.:
GT-447782 (Group $)
Policy Period:
October 1, 1990 through September 30, 1991
Perils:
Death and Dismemberment Benefits
Coverage:
Varies from $3,000; $5,000; $7,500; $10,000;
$12,000; $14,000; $15,000; Double Indemnity
for Accidental Death. Dismemberment
Benefits.
Deductible:
N/A
Premium:
....................Annual Estimate $80,000
112
EXHIBIT K-16
(Page 5 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1990
Insurance
Code
R Policy:
Company:
Policy No.:
Policy Period:
Perils:
Coverage:
Deductible
Premium:
Life Insurance (Directors only)
Pilot Life Insurance company
0548 (Group #)
January 1, 1989 to December 31, 1990
Accidental Death and Dismemberment
$25,000
N/A
.......................Annual Estimate $400
113
Wichita
TEXAS
GRAPHICS
Wichita
TEXAS
EXHIBIT L-1
50
40
30
�o
_0
41
OD
20
10
0
CITY OF WICHITA FALLS,
CASH AND SHORT-TERM INVESTMENTS
TEXAS
1986 1987 1988 1989 1990
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
SO
40
eTi.
�o
0
v' O D
D D
20
10
0
CITY OF WICHITA FALLS TEXAS
TOTAL BONDS PAYABLE
1986 1987 1968 1989 1990
YEARS ENDED SEPTEMBER 30,
EXHIBIT L-2
(UNAUDITED)
EXHIBIT L-3
26
24 -
22
20
18
16
CD
10
CITY OF WICHITA FALLS-i TEXAS
GENERAL OBLIGATION BONDS PAYABLE
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
26
24
22
20
18
16
r-�
�o
p
14
o >
�
12
N
v
10
8
6
4
2
0
CITY OF WICHITA FALLS TEXAS
REVENUE BONDS PAYABLE
'� 905 1987 1988 1989 1990
YEARS ENDED SEPTEMBEP 30,
EXHIBIT L-4
0
(UNAUDITED)
EXHIBIT L-5
CITY OF WICHITA FALLS, TEXAS
TOTAL FUND EQUITY
140
130
120
11D
100
90
80
-0
- ,r- 70
0o 0 D
D
u�l 0 60
v
50
40
30
20
10
0
1986 1987 198E 1989 1990
YEARS ENDED SEPTEMBEP 30,
RESERVED/DESIGNATED UNRESERVED/UNDESIGNATED
(UNAUDITED)
EXHIBIT L-6
CITY OF WICHITA FALLS, TEXAS
COMPARISON OF TAX LEVY AND TAX COLLECTIONS
15
14 - 7-1
13 -
12 -
11 -
10 -
r�
9 -
K:.0 8
-r
_-r
O ID
v 6
5
4
3
2
1
0
1901 1982 1983 19B4 1985 1986 1987 1988 1989 1990
YEARS ENDED SEPTEMBEP 30,
TAX LEVY ® TAX COLLECTIONS
(UNAUDITED)
EXHIBIT L-7
N
O
CITY OF WICHITA FALLS, TEXAS
ANALYSIS OF REVENUES BY SOURCE
FOR THE YEAR ENDED SEPTEMBER 30, 1990
INTEREST AND MISCELLANEOUS C10.6%)
INTERGOVERNMENTAL C6
SERVICE CHARGES C30.3%D
TAXES C41.9%D
PMITS, AND FINES C2.1%-)
RENTS AND CONCESSIONS C9.0%)
(UNAUDITED)
N
N
CITY OF WICHITA FALLS, TEXAS
ANALYSIS OF EXPENDITURES BY FUNCTION
FOR THE YEAR ENDED SEPTEMBER 30, 1990
TRAFFIC & TRANSPORT. C2.5%D
T
SAN I TF ' ^l l In 1-1
HEALTH C:
PUBLIC WORKS CB.B%D
DEBT SERVICE C3.7%D
FIRE CB.6%D
PLANNING C 0 .
POLI
ACCOUNTING & FINANCE CO .7%D
EXHIBIT L-8
EWER C17.7%)
AIRPORT C0.4%D
PARKS & RECREATION C4.4%D
CAPITAL PROJECTS C2.7%D
INTERNAL SERVICE C9.3%D
SANS I T CO 9%D
FIVE C15.7%D
(UNAUDITED)
30
28
26
24
22
20
18
_0
16
N -r
p >
14
`J
12
10
8
6
4
2
U
EXHIBIT L-9
CITY OF WICHITA FALLS TEXAS
GENERAL GOVERNMENTAL REVENUES - (GENERAL FUND ONLY)
LAST TEN FISCAL YEARS
1981 1982 1983 1984 1985 1986 19B7 1988 1989 1990
YEARS ENDED SEPTEMBEP 30,
(UNAUDITED)
CITY OF WICHITA FALLS TEXAS
GENERAL GOVERNMENTAL EXPENDITURES - (GENERAL FUND ONLY)
35 LAST TEN FISCAL YEARS
T
w
20
_o
w o>
15
v
10
5
0
EXHIBIT L-10
19B1 1982 1983 1984 1985 19B6 1987 1988 1989 1990
YEARS ENDED SEPTEMBEP 30,
11
(UNAUDITED)
Wichita
TEXAS