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1972 Annual Financial Report n'.ioo (titj .i I. I. trilita 3ITatti &xas ANNUAL FINANCIAL REPORT CH1 9 y ..n N raluuol'... j - --. o -;"/ FOR YEAR ENDING SEPTEMBER 30 , 1972 Ronald R. Wood Director of Finance CITY OF WICHITA FALLS, TEXAS MAYOR AND BOARD OF ALDERMEN J. Winston Wallander Larry Lambert, Mayor Pro Tem Harry Campsey Harrison E. Taylor Willard J. Still J. C. Boyd Mrs. Peggy McCullough CITY MANAGER Gerald Fox DIRECTOR OF FINANCE Ronald R. Wood* INDEPENDENT AUDITORS Jarratt, Cocke & Tillery *Member of Municipal Finance Officers Association of the United States and Canada J—at- 73 THE MUNICIPAL FINANCE OFFICERS ASSOCIATION OF THE UNITED STATES AND CANADA Certifies ttjat THE ANNUAL FINANCIAL REPORT OF 'The City of Wichita falls, Texas For the, Fiscal Year Elided September 30, 1q 7O SUBSTANTIALLY CONFORMS TO THE PRINCIPLES AND STANDARDS OF PUBLIC FINANCIAL REPORTING AS PROMULGATED BY THE JUunicipat ,Finance ii. fficens aggociation AND THE ,Jationat Committee on obernmentat Ziccounting • 1 /) t 9 .: °•':41111N�it`'.�� `:�64 �' ?�1,1 Presented ri( 1-� 1071 'Chair►ran, Committee on Accountingb4o Ern G174 Ga.( Vik •1 Executive Director CITY OF WICHITA FALLS, TEXAS Financial Report For The Year Ended September 30, 1972 Table Of Contents Exhibit Page No. No. Letter of Transmittal i Accountants' Opinion vi COMBINED FINANCIAL SECTION A-1 Balance Sheet - All Funds 1 A-2 Statement Of Unappropriated Fund Balances And Retained Earnings - By Fund 3 A-3 Combined Statement Of Revenues - Estimated And Actual - General Fund, Airport Fund, Water And Sewer Revenue Fund, Debt Service Fund And Transit System Fund 4 A-4 Combined Statement Of General Government Expenditures And Encumbrances Compared With Authorizations - General Fund, Airport Fund, Water And Sewer Revenue Fund, Debt Service Fund And Transit System Fund 5 A-5 Statement Of Changes In Financial Position - General Fund, Participation Paving Fund, Airport Fund, Water And Sewer Revenue Fund, Debt Service Fund, Capital Projects Funds, Trust And Agency Funds And Transit System Fund 6 A-6 Combined Statement Of Cash Receipts And Disbursements - All Funds 7 A-7 Combined Schedule Of Bonds Payable 8 A-8 Combined Schedule Of Delinquent Ad Valorem Taxes Receivable - By Fund 13 Notes to Financial Statements 14 GENERAL FUND Supplemental Accountants' Opinion 18 B-1 Balance Sheet 19 B-2 Statement Of Fund Balance 20 B-3 Revenues - Estimated And Actual 21 B-4 Statement Of Appropriations And Expenditures 22 B-5 Statement Of Expenditures 23 B-6 Changes In Ad Valorem Taxes Receivable 24 B-7 Aged Schedule Of Ad Valorem Taxes Receivable 25 B-8 Statement Of Cash Receipts And Disbursements 26 PARTICIPATION PAVING FUND C-1 Balance Sheet 27 C-2 Statement Of Revenues And Expenditures And Fund Balance 28 C-3 Statement Of Cash Receipts And Disbursements 29 CITY OF WICHITA FALLS, TEXAS, Financial Report For The Year Ended September 30, 1972, Table Of Contents (Continued) Exhibit Page No. No. AIRPORT FUND D-1 Balance Sheet 30 D-2 Statement Of Operations And Retained Earnings 31 D-3 Statement Of Plant, Equipment And Depreciation 32 D-4 Statement Of Cash Receipts And Disbursements 33 WATER AND SEWER FUND E-1 Balance Sheet 34 E-2 Statement Of Operations And Retained Earnings 35 E-3 Statement Of Property, Equipment And Depreciation 36 E-4 Statement Of Cash Receipts And Disbursements 37 DEBT SERVICE FUND F-1 Balance Sheet 38 F-2 Statement Of Reserve For Future Debt Payments 39 F-3 Changes In Taxes Receivable 40 F-4 Aged Schedule Of Taxes Receivable 41 F-5 Statement Of Cash Receipts And Disbursements 42 CAPITAL PROJECTS FUNDS G-1 Combined Balance Sheet 43 G-2 Combined Statement Of Authorizations, Expenditures And Encumbrances 44 G-3 Combined Statement Of Cash Receipts And Disbursements 45 TRUST AND AGENCY FUNDS H-1 Combined Balance Sheet 46 H-2 Combined Statement Of Revenues, Expenditures And Fund Balances 49 H-3 Combined Statements Of Cash Receipts And Disbursements 52 GENERAL FIXED ASSETS I-1 Balance Sheet 55 I-2 Statement Of Additions And Deletions - By Department 56 I-3 Statement Of General Fixed Assets By Category 57 CITY OF WICHITA FALLS, TEXAS, Financial Report For The Year Ended September 30, 1972, Table Of Contents (Continued) Exhibit Page No. No. GENERAL LONG - TERM DEBT J-1 Balance Sheet 58 J-2 Schedule Of Amounts Available In Debt Service Fund For Retirement Of Bonds And Interest 59 TRANSIT SYSTEM FUND K-1 Balance Sheet 60 K-2 Statement Of Operations And Retained Earnings 61 K-3 Statement Of Plant, Equipment And Depreciation 62 K-4 Statement Of Cash Receipts And Disbursements 63 STATISTICAL SECTION L-1 Tax Revenues By Source - Last Ten Fiscal Years 64 L-2 Property Tax Levies And Collections - Last Ten Fiscal Years 65 L-3 Assessed And Estimated Actual Value Of Taxable Property - Last Ten Fiscal Years 66 L-4 Tax Rates And Tax Levies (1962-1972) 67 L-5 Ratio Of Net General Bonded Debt To Assessed Value And Net Bonded Debt Per Capita - Last Ten Fiscal Years 68 L-6 Statement Of Direct And Overlapping Debt 69 L-7 Schedule Of Revenue Bond Coverage - Water And Sewer Revenue Bonds - Last Ten Years 70 L-8 Schedule Of Revenue Bond Coverage - Airport Revenue Bonds - Last Nine Years 71 L-9 Schedule Of Bonded Debt And Interest Maturities 72 LETTER OF TRANSMITTAL AND ACCOUNTANTS' OPINION 1111111r )( ofSchilaa//sty I .. Gerald G. Fox City Manager City of Wichita Falls Wichita Falls, Texas Dear Mr. Fox: The Annual Financial Report of the City of Wichita Falls, Texas for the fiscal year ended September 30, 1972 is submitted herewith. Accounting -System And Reports The city's accounting records for general governmental operations are maintained on a full accrual basis. Budgetary control is maintained on an annual allotment basis, with the encumbrance of account balances for purchase orders, prior to their release to vendors. Monthly financial reports and budget expenditure reports are prepared by the Finance Department to aid in the formulation of operating policies and to control budget expenditures. The Municipal Finance Officers Association of the United States and Canada awarded the City of Wichita Falls its Certificate-of Conformance for the city's 1969-70 Annual Financial Report. This certificate is awarded only to those governmental units whose financial reporting promulgated by the National Committee on Governmental Accounting. The 1971-72 Annual Financial Report submitted herewith continues to meet these standards. General Governmental Operations Revenues for general governmental operations totaled $7,486,041 in the 1971-72 fiscal year, an increase of 1.6 per cent over the 1970-71 fiscal year. General property taxes produced 33.8 per cent of general revenues compared to 36.4 per cent in 1970-71 and 39.5 per cent in 1969-70. The amount of revenue from various sources and the increase or decrease compared to last year are shown in the following tabulation: i Increase Per Cent (Decrease) Of Over Prior Revenue Source Amount Total Year Property Taxes and Penalities $2,527,666 33.7% $(150,530) Franchise and Other Taxes 2,307,649 30.8% 161,597 Licenses and Permits 113,412 1.5% 12,274 Fines and Forfeitures 224,161 3.0% (38,939) Parking Meter Revenue 118,371 1.6% (2,014) Rents and Concessions 64,996 .9% 4,266 Service Charges and Fees 1,274,682 17.0% 50,268 Miscellaneous 110,104 1.5% 8,410 Enterprise Fund Contribution 745,000 10.0% 75,000 Total $7,486,041 100.0% $ 120,332 Assessed valuations of $263,348,350 represented an increase of 3.5 per cent over the preceding year. Current tax collections were 96.18 per cent of the tax levy, down 0.02 per cent from last year. The ratio of total collections (current and delinquent) to the current tax levy was 98.84 per cent, a decrease of 0.36 per cent from last year. Allocation of the property tax levy by purpose for the year ended September 30, 1972 and the preceding two fiscal years are as follows: Purpose 1971-72 1970-71 1969-70 General Government Purposes $2,499,524 $2,623,921 $2,719,295 Debt Service Fund 2,499,524 2,251,524 2,027,084 Total $4,999,048 $4,875,445 $4,746,379 Expenditures for general governmental purpose totaled $7,366,178 an increase of 4.3 per cent over the 1970-71 fiscal year. Increase in levels of expenditure for major functions of- the city over thepreceding year are shown in the following tabulation: Increase (Decrease) Per Cent Over Prior Function Amount Of Total Period General & Administrative $1,356,195 18.4% $127,799 Finance 342,761 4.6% 24,065 Public Safety 2,503,669 34.1% 61,650 Public Works 1,795,056 24.4% (3,977) Parks & Recreation 552,886 7.5% 52,861 Planning & Traffic 597,505 8.1% 55,780 General Services 218,106 2.9% 15,427 Total $7,366,178 100.0% $333,605 ii Debt Administration The ratio of net bonded debt to assessed valuation and the amount of bonded debt per capita are useful indicators of the city's debt position to municipal management, citizens and investors. This data for the City of Wichita Falls at the end of the 1971-72 fiscal year were as follows: Ratio Of Debt Ratio Of Debt Debt To Assessed To Present Per Value Market Value Capita Net Direct Bonded Debt $16,060,000 6.10% 3.05% $163.05 Overlapping Debt 18,520,439 7.03% 3.52% 188.02 Total $34,580,439 13.13% 6.57% $351.07 Outstanding general obligation bonds at September 30, 1972 totaled $21,975,000 of which $5,915,000 were issued for water and sewer purposes and are considered to be self-supporting. The remainder is considered to be direct tax supported debt. During the past year $1,570,000 of tax bonds were retired. The city's bonds continue to have the same ratings which they have carried for the past several years. These ratings are as follows: Moody's Standard Investors And Service Poor's General Obligation Bonds A AA Water and Sewer Revenue Bonds A A Cash which was temporarily idle during the year, including both debt retirement funds and bond proceeds, was invested in certificates of deposit with the city depository in turns ranging from 30 days to 360 days. The maximum rate, as allowed by regulations, or the market rate of 91 day U. S. Treasury Bills as quoted one week preceding date of deposit, was received in accordance with our contract. The total amount of interest earned on these certificates of deposit amounted to $157,613. Capital Projects Funds The proceeds of general obligation bond issues are accounted for in Capital Projects Funds until improvement projects are completed. At the end of the fiscal year, completed projects are transferred to General Fixed Assets. During the 1971-72 fiscal period, expenditures from the Capital Projects Fund amounted to $1,820,040. All authorized bonds had been issued at September 30, 1972. iii Capital Project Fund balances on hand at September 30, 1972, consisted of $270,534 in cash and $491,661 in receivables. General Fixed Assets The general fixed assets of the city are those fixed assets used in the performance of general governmental functions and exclude the fixed assets of utility and other enterprise funds. As of September 30, 1972, the general fixed assets of the city amounted to $40,011,757. The assets acquired since the fiscal year ended September 30, 1963, were recorded at original cost, however the assets that were purchased prior to that year were not accounted for in the General Fixed Assets Fund. The value of those assets acquired prior to October 1, 1963, are at stated values developed by a physical inventory and appraisal. Depreciation of general fixed assets is not recognized in the city's accounting system. Water and Sewer Systems The Water and Sewer Revenue Fund experienced an increase in its operations for the fiscal year. Comparative data for three fiscal years are presented in the following tabulation: 1971-72 1970-71 1969-70 Gross Income $3,295,249 $3,276,049 $3,153,610 Net Income 615,577 422,003 646,129 Income Available for Debt Service 1,770,891 1,783,248 1,900,584 Average Annual Debt Service 671,002 683,785 696,361 Coverage (Income available for debt service divided by average annual debt service) 2.64 2.61 2.73 During the year, $550,000 of regularly maturing revenue bonds were retired in the Water and Sewer Fund. Additions to the Water and Sewer System in the amount of $414,189 were financed through bond proceeds and operating revenues. iv Airport Revenue Fund The operation of the Airport for the fiscal year ended September 30, 1972 resulted in a net income of $13,651. During the year $20,000 of regularly maturing revenue bonds were retired. Additions to the airport facilities of $10,992 were financed by operating revenues. Transit System Fund In April of 1971, the city purchased the assets of a privately owned bus company and formed the Transit System Fund to account for this operation. In the 1970-71 fiscal year, the General Fund contributed $32,000 to the Transit System Fund for the purchase of the company. As a result of six months operations ending September 30, 1971, the net income for the system was $1,802. The operations of the system resulted in a net loss of $12,566 for the year ended September 30, 1972. 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 a Certified Public Accountant, selected by the City Council. This requirement has been complied with and the auditor's opinion has been included in this report. The statistical section of this report was not included within the scope of the audit. Acknowledgements The preparation of this report could not be accomplished without the efficient and dedicated services of the entire staff of the Finance Department. I would like to thank your office and the members of the City Council for their interest and support in planning and conducting the financial operations of the city in a responsible and progressive manner. Sincerely yours, Ronald R. Wood Director of Finance v JARRATT, COCKE & TILLERY ACCOUNTANTS AND AUDITORS TELEPHONE 322-3103 1130 FIRST WICHITA NATIONAL BANK BUILDING WICHITA FALLS,TEXAS 76301 December 29, 1972 The Honorable Mayor and Board of Aldermen of the City of Wichita Falls, Texas We have examined the balance sheet of the General Fund, Partici- pation Paving Fund, Airport Fund, Water and Sewer Revenue Fund, Debt Service Fund, Capital Projects Funds, Trust and Agency Funds, General Fixed Assets, General Long-Term Debt and Transit System Fund of the City of Wichita Falls, Texas as of September 30, 1972, and the related statements, as applicable, of unappropriated fund balances, revenues, appropriations and expenditures, statement of changes in financial position and supplemental schedules as of September 30, 1972 and for the year then ended (Exhibits A-1 thru A-8) . Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circum- stances, except as stated in the following paragraph. Our examination and similar examinations for prior years did not include examinations of General Fixed Assets account balances nor of the Water and Sewer Revenue Fund fixed asset account balances as these accounts are gen- erally stated at values developed by employees of the City as determined by periodic physical inventories and appraisals. Accordingly, our exam- ination of General Fixed Assets and Water and Sewer Revenue Fund fixed assets was limited to a test of transactions of current year additions and retirements. Depreciation expense, where applicable, is computed on these same fixed asset balances (see also Note 3) . In our opinion, the accompanying financial statements and supplemental schedules (Exhibits A-1 thru A-8) of funds referred to in the first paragraph, except for the General Fixed Assets balance sheet and the Water and Sewer Revenue Fund fixed asset account balances as to which we do not express an opinion due to the reasons set forth in the preceding paragraph, and except for any adjustment which might be required in depreciation expense of the Water and Sewer Revenue Fund if fixed assets were stated at cost, present fairly the financial position of the various funds at September 30, 1972 and the results of their operations for the year then ended, in con- formity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Jarratt, Cocke & Tillery rr}(/L. Tillery 4/ Certified Public Accountant vi COMBINED FINANCIAL SECTION CITY OF WICHITA FALLS, TEXAS Exhibit A-1 Page 1 of 2 Balance Sheet - All Funds (Note 1) September 30, 1972 Participation Airport General Paving Fund Assets And Other Debits Fund Fund (Note 8) Cash $ 288,343 $179,630 $ 56,921 Certificates Of Deposit Accounts Receivable: Ad valorem taxes - delinquent 647,395 Utility customers, etc. 20,586 Due from other funds 179,935 1,288 Paving receivables 388,775 Due from other governmental units 329,553 Other 51,919 Allowances for uncollectible accounts (231,710) Net accounts receivable 977,092 390,063 20,586 Materials And Supplies Inventories - At Cost 39,099 Prepaid And Deferred Expenses 18,207 Restricted Assets: Cash 3,562 20,332 Certificates of deposit 7,531 39,244 Total restricted assets 11,093 59,576 Plant And Equipment (Note 3) : Land and betterments 11,268 Buildings and plant 494,281 Machinery and equipment 15,505 Motor vehicles 4,003 Furniture and fixtures 18,077 Construction in progress Total plant and equipment 543,134 Less allowances for depreciation (92,240) Net plant and equipment 450,894 Securities Held In Trust Bonds Authorized And Unissued Amounts Available For Retirement Of Serial Bonds Amounts To Be Provided For Retirement Of Serial Bonds Totals $1,333,834 $569,693 $587,977 The accompanying Notes to Financial Statements are an integral part of this statement. -1- CITY OF WICHITA FALLS, TEXAS Exhibit A-1 Page l of 2 Balance Sheet - All Funds (Note 1) September 30, 1972 Water And Debt Capital Trust And General General Transit Sewer Revenue Service Projects Agency Funds Fixed Long - System Fund Fund Funds (Notes 2 and 5) Assets Term Debt Fund $ 313,073 $ 12,349 $270,534 $312,849 $ 8,596 105,000 395,353 225,582 8,846 12,702 4,479 487,182 161,943 8,832 2,001 (10,000) (116,203) 233,260 291,852 491,661 163,944 168,604 8,537 28,053 825,132 1,431,961 2,257,093 12,076,338 $29,799,185 26,629,487 4,179,501 906,642 2,746,934 9,434 126,239 1,414,112 25,612 12,079 633,289 135 468,723 1,238,736 40,219,508 40,011,757 35,181 (9,549,888) (14,654) 30,669,620 40,011,757 20,527 10,000 $ 130,051 28,622,099 $33,669,703 $409,201 $762,195 $486,793 $40,011,757 $28,752,150 $37,660 The accompanying Notes to Financial Statements are an integral part of this statement. -1- CITY OF WICHITA FALLS, TEXAS Exhibit A-1 Page 2 of 2 Balance Sheet - All Funds (Note 1) September 30, 1972 Participation Airport Liabilities, Reserves, Fund Balances General Paving Fund And Retained Earnings Fund Fund (Note 8) Liabilities: Accounts payable $ 102,778 $ 2,933 Due to other funds 4,807 $ 3,881 Due to other governmental units 5,324 Accrued payroll 160,434 Other - advance payments, etc. 8,428 Accrued interest - revenue bonds 7,125 Interest payable - general obligation bonds, including $856,765 due in next fiscal year General obligation bonds payable - serial, including $1,622,000 due in next fiscal year Revenue bonds payable - serial, including $575,000 due in next fiscal year 385,000 Refunding contracts (Note 4) Consumer deposits Contracts and commitments (Note 9) Total liabilities 273,343 11,361 396,006 Reserves, Fund Balances And Retained Earnings: Reserve for encumbrances 85,450 Reserve for capital improvements 73,603 Reserve for rebates, etc. 7,796 1,446 Investment in general fixed assets Fund balances 893,642 556,886 Retained earnings 191,971 Totals $1,333,834 $569,693 $587,977 The accompanying Notes to Financial Statements are an integral part of this statement. -2- CITY OF WICHITA FALLS, TEXAS Exhibit A-1 Page 2 of 2 Balance Sheet - All Funds (Note 1) September 30, 1972 Water And Debt Capital Trust And General General Transit Sewer Revenue Service Projects Agency Funds Fixed Long - System Fund Fund Funds (Notes 2 and 5) Assets Term Debt Fund $ 237,658 $ 61,260 $105,944 $ 380 114,865 8,306 59,347 16,044 149,788 22,200 59,959 $ 6,777,150 21,975,000 9,725,000 55,011 283,788 10,498,481 $ -0- 69,566 315,079 $ -0- 28,752,150 16,424 205,665 59,127 40,011,757 409,201 486,964 112,587 23,171,222 21,236 $33,669,703 $409,201 $762,195 $486,793 $40,011,757 $28,752,150 $37,660 The accompanying Notes to Financial Statements are an integral part of this statement. -2- CITY OF WICHITA FALLS, TEXAS Exhibit A-2 Statement Of Unappropriated Fund Balances And Retained Earnings By Fund (Note 1) For The Year Ended September 30, 1972 Participation Airport General Paving Fund Fund Fund (Note 8) Balances, September 30, 1971 $ 782,566 $527,646 $178,320 Additions: Revenues (Note 7) 7,486,041 146,896 Net income (loss) for the year (Notes 3 and 6) 13,651 Federal and state grants Contributions from other funds Contributions in aid of construction (Note 4) Reserve for encumbrances, September 30, 1971 76,663 7,562,704 146,896 13,651 8,345,270 674,542 191,971 Deductions: Expenditures (Note 6) 7,366,178 117,656 Contributions to general fund (Note 7) Reserve for encumbrances, September 30, 1972 85,450 7,451,628 117,656 -0- Balances, September 30, 1972 $ 893,642 $556,886 $191,971 The accompanying Notes to Financial Statements are an integral part of this statement. -3- CITY OF WICHITA FALLS, TEXAS Exhibit A-2 Statement Of Unappropriated Fund Balances And Retained Earnings By Fund (Note 1) For The Year Ended September 30, 1972 Water And Debt Capital Trust And General General Transit Sewer Revenue Service Projects Agency Funds Fixed Long - System Fund Fund Funds (Notes 2 and 5) Assets Term Debt Fund $23,141,297 $ 457,356 $1,515,213 $ 74,864 $ -0- $ -0- $33,802 2,494,053 36,549 615,577 (12,566) 1,280,308 36,155 159,348 30,848 960,907 774,925 2,494,053 997,456 1,347,311 -0- -0- (12,566) 23,916,222 2,951,409 2,512,669 1,422,175 -0- -0- 21,236 2,542,208 1,820,040 1,250,461 745,000 205,665 59,127 745,000 2,542,208 2,025,705 1,309,588 -0- -0- -0- $23,171,222 $ 409,201 $ 486,964 $ 112,587 $ -0- $ -0- $21,236 The accompanying Notes to Financial Statements are an integral part of this statement. -3- CITY OF WICHITA FALLS, TEXAS Exhibit A-3 Combined Statement Of Revenues - Estimated And Actual (Note 1) General Fund, Airport Fund, Water And Sewer Revenue Fund, Debt Service Fund And Transit System Fund For The Year Ended September 30, 1972 Actual Estimated Actual Over (Under) Source (Fund) Revenues Revenues Estimated Taxes: (General Fund) $ 4,786,750 $ 4,835,315 $ 48,565 (Debt Service) 2,461,000 2,474,529 13,529 7,247,750 7,309,844 62,094 Licenses And Permits - (General Fund) 80,250 113,412 33,162 Charges For Service: (General Fund) 1,233,700 1,274,682 40,982 (Airport Fund) 116,000 118,504 2,504 (Water And Sewer Revenue Fund) 3,201,450 3,295,249 93,799 (Transit System Fund) 162,700 137,092 (25,608) 4,713,850 4,825,527 111,677 Fines And Forfeitures - (General Fund) 288,000 224,161 (63,839) Miscellaneous Revenues: (General Fund) 307,875 293,471 (14,404) (Airport Fund) 2,000 2,047 47 (Water And Sewer Revenue Fund) 74,000 99,992 25,992 (Debt Service Fund) -0- 19,524 19,524 (Transit System Fund) 800 3,109 2,309 384,675 418,143 33,468 Inter-Fund Contributions - (General Fund) (Note 7) 745,000 745,000 -0- Total revenues $13,459,525 $13,636,087 $176,562 Summary By Fund (General Fund) $ 7,441,575 $ 7,486,041 $ 44,466 (Airport Fund) 118,000 120,551 2,551 (Water And Sewer Revenue Fund) 3,275,450 3,395,241 119,791 (Debt Service Fund) 2,461,000 2,494,053 33,053 (Transit System Fund) 163,500 140,201 (23,299) Total revenues $13,459,525 $13,636,087 $176,562 The accompanying Notes to Financial Statements are an integral part of this statement. -4- CITY OF WICHITA FALLS, TEXAS Exhibit A-4 Combined Statement Of General Government Expenditures And Encumbrances Compared With Authorizations (Note 1) General Fund, Airport Fund, Water And Sewer Revenue Fund, Debt Service Fund And Transit System Fund For The Year Ended September 30, 1972 Authorizations Appropriations Reserve For (After Encumbrances Fund (Division) Revisions) September 30, 1971 Total General Fund: (General administration) $ 1,397,146 $ 8,006 $ 1,405,152 (Finance) 349,110 321 349,431 (Public safety) 2,504,476 215 2,504,691 (Public works) 1,804,893 48,132 1,853,025 (Parks and recreation) 561,413 387 561,800 (Planning and traffic) 598,905 19,376 618,281 (General services) 219,427 226 219,653 Total general fund 7,435,370 76,663 7,512,033 Airport Fund: (Airport) (A) 85,655 85,655 (Debt service) (B) 36,300 36,300 Total airport fund 121,955 121,955 Water And Sewer Revenue Fund: (Public utilities administration) (A) 331,122 331,122 (Water development and distribution) (A) 979,483 979,483 (Sanitary sewers and treatment) (A) 300,342 300,342 (Debt service) (B) 926,656 926,656 Total water and sewer revenue fund 2,537,603 2,537,603 Debt Service Fund 2,542,208 2,542,208 Transit System Fund (A) 153,860 153,860 Total all funds $12,790,996 $76,663 $12,867,659 (A) Includes amounts for authorizations and expenditures for fixed asset additions. Expenditures for fixed asset additions were airport fund $10,992, water and sewer revenue fund $81,743 and transit system fund $269. Does not include any amounts for depreciation, see Note 3 of the Notes to Financial Statements. Water and sewer revenue fund also includes refunding contract payments of $23,099. (B) Debt service includes amounts for bond principal payments (maturities) , airport fund $20,000 and water and sewer revenue fund $550,000. The accompanying Notes to Financial Statements are an integral part of this statement. -5- CITY OF WICHITA FALLS, TEXAS Exhibit A-4 Combined Statement Of General Government Expenditures And Encumbrances Compared With Authorizations (Note 1) General Fund, Airport Fund, Water And Sewer Revenue Fund, Debt Service Fund And Transit System Fund For The Year Ended September 30, 1972 Total Reserve Fur Expenditures Unexpended Encumbrances (Over) For The Year Balance September 30, 1972 Under $ 1,356,198 $ 48,954 $50,805 $(1,851) 342,759 6,672 1,715 4,957 2,503,670 1,021 406 615 1,795,053 57,972 19,249 38,723 552,887 8,913 1,895 7,018 597,505 20,776 11,361 9,415 218,106 1,547 19 1,528 7,366,178 145,855 85,450 60,405 86,227 (572) (572) 36,041 259 259 122,268 (313) (313) 328,586 2,536 2,536 996,990 (17,507) (17,507) 303,624 (3,282) (3,282) 922,824 3,832 3,832 2,552,024 (14,421) (14,421) 2,542,208 -0- -0- 144,465 9,395 9,395 $12,727,143 $140,516 $85,450 $55,066 The accompanying Notes to Financial Statements are an integral part of this statement. -5- CITY OF WICHITA FALLS, TEXAS Exhibit A-5 Statement Of Changes In Financial Position (Note 1) General Fund, Participation Paving Fund, Airport Fund, Water And Sewer Revenue Fund, Debt Service Fund, Capital Projects Funds, Trust And Agency Funds and Transit System Fund For The Year Ended September 30, 1972 Participation Airport General Paving Fund Fund Fund (Note 8) Source Of Funds: Revenues $7,486,041 $146,896 Expenditures (Note 6) (7,366,178) (117,656) Net income (loss) (Note 6) $13,651 Add charges to income (loss) not requiring outlays of working capital - depreciation (Note 3) 15,624 119,863 29,240 29,275 Contributions in aid of construction Consumer deposits increase - net 119,863 29,240 29,275 Application Of Funds: Additions to property, plant and equipment - net 10,992 Reductions in revenue bonds payable 20,000 Contributions to general fund (Note 7) Refunding contracts payments (Note 4) -0- -0- 30,992 Net increase (decrease) $ 119,863 $ 29,240 $(1,717) Changes In Components: Increase (decrease) in assets: Cash and certificates of deposit $ 73,475 $ 83,343 $ 3,207 Restricted cash and certificates of deposit 2,948 (2,293) Accounts receivable: Ad valorem taxes - net (23,273) Paving receivables (135,736) Trade accounts receivable 6,064 Due from other funds (68,239) (12,046) (5,209) Due from other governmental units 6,770 Other 6,091 Materials and supplies inventories (2,405) Prepaid expenses 3,531 (1,102) (64,439) 1,769 Increase (decrease) in liabilities: Accounts payable (33,710) (7,023) (49) Due to other funds (121,444) (85,632) 3,881 Due to other governmental units 1,448 Accrued payroll 29,876 Payables from restricted cash: Accounts payable Accrued revenue bond interest (346) Reserves - rebates, etc. 2,865 (1,024) (120,965) (93,679) 3,486 Net increase (decrease) $ 119,863 $ 29,240 $(1,717) The accompanying Notes to Financial Statements are an integral part of this statement. -6- CITY OF WICHITA FALLS, TEXAS Exhibit A-5 Statement Of Changes In Financial Position (Note 1) General Fund, Participation Paving Fund, Airport Fund, Water And Sewer Revenue Fund, Debt Service Fund, Capital Projects Funds, Trust And Agency Funds and Transit System Fund For The Year Ended September 30, 1972 Water And Debt Capital Trust And Transit Sewer Revenue Service Projects Agency Funds System Fund Fund Funds (Notes 2 and 5) Fund $2,494,053 $ 36,549 $1,347,311 (2,542,208) (1,820,040) (1,250,461) $ 615,577 $(12,566) 882,482 8,571 1,498,059 (48,155) (1,783,491) 96,850 (3,995) 53,755 15,096 1,566,910 (48,155) (1,783,491) 96,850 (3,995) 410,605 476 550,000 745,000 23,099 1,728,704 -0- -0- -0- 476 $ (161,794) $ (48,155) $(1,783,491) $ 96,850 $ (4,471) $ 193,093 $ (39,203) $(1,613,962) $ 70,354 $(49,793) (99,008) 3,931 4,816 (91,199) (12,883) (96,008) (1) (110,379) (17,630) 5,022 (9,366) 34,442 1,637 (1,869) (5,416) 45,297 (48,155) (1,820,349) 43,357 (53,572) (5,650) (20,573) (41,683) (2,135) 3,047 (16,285) (22,186) (46,966) 10,376 4,830 208,697 (3,833) 207,091 -0- (36,858) (53,493) (49,101) $ (161,794) $ (48,155) $(1,783,491) $ 96,850 $ (4,471) The accompanying Notes to Financial Statements are an integral part of this statement. -6- CITY OF WICHITA FALLS, TEXAS Exhibit A-6 Combined Statement Of Cash Receipts And Disbursements All Funds (Note 1) For The Year Ended September 30, 1972 Balances, Fund September 30, 1971 General Fund $ 223,013 Participation Paving Fund 96,287 Airport Fund: Operating 53,714 Revenue bond interest and sinking fund 22,827 Revenue bond reserve fund 39,042 Water And Sewer Revenue Fund: Operating 119,980 Revenue bond interest and sinking fund 236,837 Revenue bond reserve fund 845,100 Series 1963 revenue bond 355,972 Series 1968 revenue bond 918,192 Debt Service Fund 156,552 Capital Projects Funds: Series 1959 waterworks improvements 75,142 Series 1963 street and storm drainage 230 Series 1968 health unit building 320 Series 1968 street and storm drainage 1,808,804 Trust And Agency Funds: Social security 103,058 Payroll -0- Cab company trust -0- Tax refund 10,113 Tax collection 74,619 Clearing fund 3,734 Municipal information system 10,208 Emergency employment grant 3,529 Container train study 7,326 Urban mass transportation study 1,078 Police systems management -0- Drug administration 3,789 Camps fund 5,411 Narcotics intelligence fund 19,630 Topics fund -0- Public services careers -0- Comprehensive planning grant -0- Lucy park -0- Reserve for lucy park -0- Transit System Fund 58,389 Totals $5,252,896 The accompanying Notes to Financial Statements are an integral part of this statement. -7- CITY OF WICHITA FALLS, TEXAS Exhibit A-6 Combined Statement Of Cash Receipts And Disbursements All Funds (Note 1) For The Year Ended September 30, 1972 Balances, Receipts Disbursements September 30, 1972 $ 8,553,205 $ 8,476,782 $ 299,436 285,967 202,624 179,630 117,649 114,442 56,921 33,891 36,386 20,332 2,047 1,845 39,244 4,537,572 4,344,479 313,073 894,221 926,656 204,402 36,636 29,775 851,961 14,229 7,017 363,184 42,418 123,064 837,546 2,503,138 2,542,341 117,349 2,758 62,769 15,131 10,765 10,995 -0- 41,913 29,064 13,169 1,655,371 3,221,941 242,234 465,568 452,762 115,864 6,550,424 6,550,424 -0- -0- -0- -0- 4,213 12,649 1,677 9,951,229 9,954,941 70,907 -0- 735 2,999 944,000 914,254 39,954 80,634 73,522 10,641 1,600 8,658 268 -0- -0- 1,078 35,610 21,533 14,077 11,419 14,008 1,200 20,000 17,329 8,082 56,516 62,311 13,835 112,660 103,068 9,592 43,733 37,759 5,974 2,700 2,399 301 1,500 725 775 15,625 -0- 15,625 140,201 189,994 8,596 $37,169,412 $38,547,251 $3,875,057 The accompanying Notes to Financial Statements are an integral part of this statement. -7- CITY OF WICHITA FALLS, TEXAS Exhibit A-7 Page 1 of 5 Combined Schedule Of Bonds Payable (Note 1) September 30, 1972 Interest Final Rates And Issue Maturity Dates Date Date General Obligation Bonds: 1949 Waterworks Improvement 3 1/2, 2 3/4; (6/1, 12/1) 12/1/49 12/1/74 1949 Street Improvement 3 1/2, 2 3/4; (6/1, 12/1) 12/1/49 12/1/74 The accompanying Notes to Financial Statements are an integral part of this statement. -8- CITY OF WICHITA FALLS, TEXAS Exhibit A-7 Page l of 5 Combined Schedule Of Bonds Payable (Note 1) September 30, 1972 Annual Serial Bonds Payments Authorized Issued Retired Outstanding $ 21,000 (1950) $1,250,000 $1,250,000 $890,000 $360,000 14,000 (1951) 32,000 (1952) 34,000 (1953) 36,000 (1954) 34,000 (1955) 32,000 (1956) 34,000 (1957) 36,000 (1958) 38,000 (1959) 27,000 (1960) 35,000 (1961) 36,000 (1962) 38,000 (1963) 35,000 (1964) 32,000 (1965) 38,000 (1966) 41,000 (1967) 36,000 (1968) 38,000 (1969) 110,000 (1970) 113,000 (1971) 115,000 (1972) 121,000 (1973) 124,000 (1974) 11,000 (1950) 800,000 800,000 552,000 248,000 8,000 (1951) 17,000 (1952) 19,000 (1953) 21,000 (1954) 19,000 (1955) 17,000 (1956) 19,000 (1957) 20,000 (1958) 22,000 (1959) 16,000 (1960) 18,000 (1961) 20,000 (1962) 22,000 (1963) 18,000 (1964) 17,000 (1965) The accompanying Notes to Financial Statements are an integral part of this statement. -8- CITY OF WICHITA FALLS. TEXAS Exhibit A-7 Page 2 of 5 Combined Schedule Of Bonds Payable (Note 1) September 30, 1972 Interest Final Rates And Issue Maturity Dates Date Date General Obligation Bonds: (cont.) 1949 Street Improvement (cont.) 1949 Park Improvement 3 1/2, 2 3/4; (6/1, 12/1) 12/1/49 12/1/74 1949 Fire Station Improvement 3 1/2, 2 3/4; (6/1, 12/1) 12/1/49 12/1/74 The accompanying Notes to Financial Statements are an integral part of this statement. -9- CITY OF WICHITA FALLS, TEXAS Exhibit A-7 Page 2 of 5 Combined Schedule Of Bonds Payable (Note 1) September 30, 1972 Annual Serial Bonds Payments Authorized Issued Retired Outstanding $ 22,000 (1966) $ $ $ $ 23,000 (1967) 30,000 (1968) 37,000 (1969) 77,000 (1970) 79,000 (1971) 80,000 (1972) 83,000 (1973) 85,000 (1974) 2,000 (1950) 200,000 200,000 138,000 62,000 2,000 (1951) 4,000 (1952) 5,000 (1953) 6,000 (1954) 5,000 (1955) 4,000 (1956) 5,000 (1957) 6,000 (1958) 6,000 (1959) 5,000 (1960) 5,000 (1961) 6,000 (1962) 6,000 (1963) 5,000 (1964) 4,000 (1965) 6,000 (1966) 8,000 (1967) 6,000 (1968) 6,000 (1969) 18,000 (1970) 18,000 (1971) 20,000 (1972) 21,000 (1973) 21,000 (1974) 1,000 (1950-51) 100,000 100,000 70,000 30,000 2,000 (1952-57) 3,000 (1958) 4,000 (1959) 2,000 (1960-61) 3,000 (1962) 4,000 (1963) The accompanying Notes to Financial Statements are an integral part of this statement. -9- CITY OF WICHITA FALLS, TEXAS Exhibit A-7 Page 3 of 5 Combined Schedule Of Bonds Payable (Note 1) September 30, 1972 Interest Final Rates And Issue Maturity Dates Date Date General Obligation Bonds: (cont.) 1949 Fire Station Improvement (cont.) 1955 Wichita County Water Control and Improvement District #4 4 1/2, 4 3/4; (1/1, 7/1) 1/1/55 1/1/85 1955 Waterworks Improvement 2 1/2, 2 1/4; (8/15, 2/15) 2/15/55 2/15/75 1956 Wichita County Water Control and Improvement District #5 4, 4 1/2; (11/1, 5/1) 11/1/56 11/1/86 1957 Sewer Improvement and Extension Bonds 4, 3 3/4; (9/1, 3/1) 9/1/57 9/1/72 1959 Waterworks Improvement 4 1/2, 3 1/2, 3 3/4; (2/1, 8/1)8/1/59 8/1/79 1959 Wichita County Water Control and Improvement District #6 4 3/4, 5 1/2; (9/1, 3/1) 9/1/59 9/1/89 The accompanying Notes to Financial Statements are an integral part of this statement. -10- CITY OF WICHITA FALLS, TEXAS Exhibit A-7 Page 3 of 5 Combined Schedule Of Bonds Payable (Note 1) September 30, 1972 Annual Serial Bonds Payments Authorized Issued Retired Outstanding. $ 2,000 (1964-65) $ $ $ $ 4,000 (1966) 3,000 (1967-68) 4,000 (1969) 10,000 (1970-74) 2,000 (1958-59) 275,000 275,000 84,000 191,000 3,000 (1960-61) 4,000 (1962-63) 5,000 (1964-65) 6,000 (1966) 7,000 (1967-68) 8,000 (1969-70) 10,000 (1971-72) 12,000 (1973-76) 14,000 (1977) 15,000 (1978-80) 16,000 (1981-83) 18,000 (1984-85) 85,000 (1956-75) 1,700,000 1,700,000 1,445,000 255,000 5,000 (1959-62) 560,000 560,000 130,000 430,000 10,000 (1963-67) 15,000 (1968-71) 20,000 (1972-75) 25,000 (1976-78) 30,000 (1979-81) 35,000 (1982-84) 40,000 (1985-86) 30,000 (1958-62) 500,000 500,000 500,000 -0- 35,000 (1963-72) 200,000 (1960-79) 4,000,000 4,000,000 2,600,000 1,400,000 5,000 (1963-66) 385,000 385,000 75,000 310,000 7,000 (1967) 8,000 (1968-69) 10,000 (1970-71) The accompanying Notes to Financial Statements are an integral part of this statement. -10- CITY OF WICHITA FALLS, TEXAS Exhibit A-7 Page 4 of 5 Combined Schedule Of Bonds Payable (Note 1) September 30, 1972 Interest Final Rates And Issue Maturity Dates Date Date General Obligation Bonds: (cont.) 1959 Wichita County Water Control and Improvement District #6 (cont.) 1959 Wichita County Water Control and Improvement District #4 4 3/4, 5 1/2; (9/1, 3/1) 9/1/59 9/1/89 1963 Park Improvement Bonds 3 1/4, 4, 5; (2/1, 8/1) 8/1/63 8/1/79 1963 General Obligation Bonds 1/10, 3.30, 3 1/4, 4, 5; 8/1/63 8/1/88 (2/1, 8/1) 1964 General Obligation Bonds 5, 4 7/8, 3, 3.10, 3.20, 8/1/64 8/1/84 1/10; (2/1, 8/1) 1965 General Obligation Bonds 5, 4 3/4, 3, 3.10, 1/20 2/15/65 2/15/85 of 1%; (2/15, 8/15) 1968 General Obligation Bonds 5, 4 7/8, 4 1/2, 1/2 1/10/68 7/10/87 of 1%; (1/10, 7/10) 1968-A General Obligation Bonds 5, 4.5, 4.1, 4.2, 4.25, 12/1/68 6/1/89 4.3, 4.35, 4.4, 4.5, 4.55, 4.6, 3.5; (6/1, 12/1) 1970 General Obligation Bonds 7.0, 6.0, 5.25, 5.5, 5.75, 2/15/70 2/15/90 5.85, 6.0, 6.1, 5.0; (2/15, 8/15) 1971 General Obligation Bonds 4.0, 4.25, 4.5, 4.7, 4.8, 2/15/71 2/15/91 4.9 (2/15, 8/15) Total General Obligation Bonds The accompanying Notes to Financial Statements are an integral part of this statement. -11- CITY OF WICHITA FALLS, TEXAS Exhibit A-7 Page 4 of 5 Combined Schedule Of Bonds Payable (Note 1) September 30, 1972 Annual Serial Bonds Payments Authorized Issued Retired Outstanding $ 12,000 (1972-74) $ $ $ $ 14,000 (1975-76) 15,000 (1977-78) 16,000 (1979-80) 18,000 (1981-82) 20,000 (1983-85) 22,000 (1986) 25,000 (1987-88) 28,000 (1989) 5,000 (1962-70) 300,000 300,000 61,000 239,000 8,000 (1971-74) 10,000 (1975-81) 12,000 (1982-85) 25,000 (1986-88) 30,000 (1989) 20,000 (1964-79) 320,000 320,000 180,000 140,000 100,000 (1964-79) 2,680,000 2,680,000 900,000 1,780,000 120,000 (1980-88) 160,000 (1965-67) 3,285,000 3,285,000 1,305,000 1,980,000 165,000 (1968-84) 300,000 (1966-85) 6,000,000 6,000,000 2,100,000 3,900,000 150,000 (1970-75) 3,000,000 3,000,000 450,000 2,550,000 175,000 (1976-87) 85,000 (1971) 4,435,000 4,435,000 235,000 4,200,000 150,000 (1972) 225,000 (1973-74) 250,000 (1975-89) 100,000 (1972-86) 2,000,000 2,000,000 100,000 1,900,000 125,000 (1987-90) 125,000 (1976-91) 2,000,000 2,000,000 -0- 2,000,000 33,790,000 33,790,000 11,815,000 21,975,000 The accompanying Notes to Financial Statements are an integral part of this statement. -11- CITY OF WICHITA FALLS, TEXAS Exhibit A-7 Page 5 of 5 Combined Schedule Of Bonds Payable (Note 1) September 30, 1972 Interest Final Rates And Issue Maturity Dates Date Date Revenue Bonds: Water and Sewer Revenue Bonds: 1963 Water and Sewer Revenue 1/10, 3, 3.2, 3.3, 5; 8/1/63 8/1/88 (2/1, 8/1) 1966 Water and Sewer Revenue 5, 3 1/2, 3.6, 3 3/4, 2/1/66 2/1/91 1/20; (8/1, 2/1) 1966-A Water and Sewer Revenue 5, 4 7/8, 4; (2/1, 8/1) 11/1/66 8/1/91 1968 Water and Sewer Revenue 5, 4 5/8, 4 1/4, 4 1/2, 2/1/68 2/1/88 4.60; (8/1, 2/1) Total Water and Sewer Revenue Bonds Airport Revenue Bonds: 1964 Airport Revenue 3 1/4, 3 1/2, 3 3/4, 4; 4/15/64 4/15/84 (4/15, 10/15) 1967 Airport Revenue 4 1/2; (10/15, 4/15) 4/15/67 4/15/87 Total Airport Revenue Bonds Total Revenue Bonds Total All Bonds The accompanying Notes to Financial Statements are an integral part of this statement. -12- CITY OF WICHITA FALLS, TEXAS Exhibit A-7 Page 5 of 5 Combined Schedule Of Bonds Payable (Note 1) September 30, 1972 Annual Serial Bonds Payments Authorized Issued Retired Outstanding $220,000 (1964-71) $ 5,585,000 $ 5,585,000 $ 1,985,000 $ 3,600,000 225,000 (1972-88) 75,000 (1966) 3,800,000 3,800,000 975,000 2,825,000 150,000 (1967-80) 155,000 (1981-90) 75,000 (1991) 75,000 (1968-91) 1,800,000 1,800,000 375,000 1,425,000 100,000 (1970-77) 2,175,000 2,175,000 300,000 1,875,000 125,000 (1978-88) 13,360,000 13,360,000 3,635,000 9,725,000 10,000 (1965-66) 375,000 375,000 110,000 265,000 15,000 (1967-72) 20,000 (1973-79) 25,000 (1980-84) 5,000 (1971-84) 130,000 130,000 10,000 120,000 20,000 (1985-87) 505,000 505,000 120,000 385,000 13,865,000 13,865,000 3,755,000 10,110,000 $47,655,000 $47,655,000 $15,570,000 $32,085,000 The accompanying Notes to Financial Statements are an integral part of this statement. -12- CITY OF WICHITA FALLS, TEXAS Exhibit A-8 Combined Schedule Of Delinquent Ad Valorem Taxes Receivable By Fund (Note 1) September 30, 1972 Debt General Service Fiscal Year Total Fund Fund 1954 And Prior $ 22,615 $ 18,134 $ 4,481 1955 - 1956 5,711 4,431 1,280 1956 - 1957 6,494 5,042 1,452 1957 - 1958 8,327 6,554 1,773 1958 - 1959 10,277 8,267 2,010 1959 - 1960 14,570 11,529 3,041 1960 - 1961 19,696 15,627 4,069 1961 - 1962 21,535 16,261 5,274 1962 - 1963 28,660 21,641 7,019 1963 - 1964 73,877 55,785 18,092 1964 - 1965 64,776 45,343 19,433 1965 - 1966 78,708 51,869 26,839 1966 - 1967 108,593 68,414 40,179 1967 - 1968 102,367 65,106 37,261 1968 - 1969 80,167 43,210 36,957 1969 - 1970 98,645 56,516 42,129 1970 - 1971 122,896 66,249 56,647 1971 - 1972 174,834 87,417 87,417 Gross Delinquent Taxes Receivable 1,042,748 647,395 395,353 Less Allowances For Uncollectible Delinquent Taxes Receivable (314,913) (198,710) (116,203) Net Delinquent Taxes Receivable $ 727,835 $448,685 $279,150 The accompanying Notes to Financial Statements are an integral part of this statement. -1 CITY OF WICHITA FALLS, TEXAS Notes To Financial Statements Page 1 of 4 September 30, 1972 1. Accounting Policies and Procedures: Basis of Accounting - Generally: The accompanying financial statements have been prepared, generally, on the accrual basis. Certain General Fund revenues have been consistently stated on the cash basis, these revenues aggregate approximately $840,000 for the current fiscal year. City officials are of the opinion that the accrual basis applied to these revenues would have an insignificant effect. Ad Valorem Taxes Penalty and Interest: Penalty and interest on delinquent ad valorem taxes receivable is not recognized as an asset nor taken into income until actually collected in cash. Fixed Assets and Depreciation: See Note 3 for basis of fixed assets and depreciation policy. General Obligation Bonds: All general obligation bonds, regardless of use of proceeds, are recorded only in the General Long-Term Debt Fund, including interest to maturity. Interest on Revenue Bonds: Interest on revenue bonds in the Water and Sewer Revenue Fund and Airport Fund is recognized only as it accrues (from last interest payment to statement date) . 2. Tax Collections for Others: 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 for the school district uncollected at September 30, 1972 amounted to $1,048,074 and delinquent taxes due the college district at that date amounted to $42,711. These uncollected balances are not reflected in the Trust and Agency Fund balance sheet at September 30, 1972. -14- CITY OF WICHITA FALLS, TEXAS Notes To Financial Statements Page 2 of 4 September 30, 1972 3. Fixed Assets and Depreciation: General fixed assets and Water and Sewer Revenue Fund fixed assets, are stated generally at appraisal values assigned by the City in prior years; current year additions are recorded at cost. Fixed assets of the Airport Fund and the Transit System Fund are stated at cost. Depreciation of fixed assets is recognized only in the Water and Sewer Revenue Fund, Airport Fund and the Transit System Fund. Depreciation is computed on the straight-line basis, based on estimated useful lives of the fixed assets. During the current fiscal year, operations was charged with depreciation expense as follows: Rates Amount Water and Sewer Revenue Fund 2% - 25% $882,482 Airport Fund 2% - 25% 15,624 Transit System Fund 10% - 50% 8,571 $906,,677 Fixed assets acquired from General Fund revenues are not carried in the accounts of the General Fund. In conformity with generally accepted governmental accounting principles, these fixed assets are known as General Fixed Assets and are carried in a separate self-balancing group of accounts called General Fixed Assets. 4. Refunding Contracts: Prior to March 30, 1964, when the practice was discontinued, the City entered into agreements with real estate development contractors, whereby the City would refund part of the costs of water and sewer facilities. Except for this redemption provision, all of the costs of the facilities were borne by the developers, and ownership of the facilities vests in the City upon their acceptance by City authorities. The contracts provide for payments over ten and fifteen year periods. The repayment percentages are 25% and 33-1/3% of revenues. Refunding payments amounted to $23,099 during the current fiscal year and will approximate only $2,500 next fiscal year. Time expiring unpaid contract balances are written-off to retained earnings as contributions, and $105,593 of the $159,348 (contribu- tions in aid of construction) represents current year expired contract balances. -15- CITY OF WICHITA FALLS, TEXAS Notes To Financial Statements Page 3 of 4 September 30, 1972 5. Municipal Information System: On March 3, 1970, the City entered into a contract with the Depart- ment of Housing and Urban Development for the development of a Municipal Information System. The contract period is for three years and the total estimated amount is $2,816,269. To aid in the development of the information system, the City entered into sub- contracts with a private software firm and a university. This program continuation, including the sub-contractors, is dependent upon continued Federal funding. This contract is accounted for in the accompanying financial state- ments as a trust fund in the Trust and Agency Fund section of the statements and reflects only current balances; cash $39,954, receivables $114,501, payables $92,484 and fund balance $61,971. Of the $2,816,269 estimated amount, $2,228,805 had been expended to September 30, 1972; with $871,617 being expended in the fiscal year ended September 30, 1972. Subsequent to September 30, 1972, the contract is being renegotiated and it is anticipated that the total estimated amount will be increased to $5,344,035 and the contract performance period extended to expire June 30, 1975. It is estimated that the sub-contractors portion of a renegotiated contract will be approximately $3,166,556. 6. Employee Retirement: City employees, except firemen, are covered by the Texas Municipal Retirement System; firemen are covered by a self administered Firemens Relief Fund. The City contributed 6% of firemens salary to that fund. City contributions to Texas Municipal Retirement System fluctuates based on actuarial calculations; the effective rate of contribution, at September 30, 1972, was 4.9% of the first $8,400 of employees salary. Prior service liability, if any, is funded by the City annually and would be a part of the 4.9% above. City contributions to both plans, charged to operations, during the current fiscal year, were as follows: General Fund $222,726 Water and Sewer Revenue Fund 37,541 Airport Fund 1,448 Transit System Fund 1,480 $263,195 -16- CITY OF WICHITA FALLS, TEXAS Notes To Financial Statements Page 4 of 4 September 30, 1972 7. Contributions (Transfers) of Surplus Funds: During the current fiscal year, $745,000 of surplus funds of the Water and Sewer Revenue Fund were contributed (transferred) to the General Fund. At the time of the transfers, all requirements of the bond reserve fund and interest and sinking fund had been satisfied. The transfers were made from the surplus accounts of the Water and Sewer Revenue Fund in compliance with existing ordinances governing such transfers and in conformance with excess revenue provisions of the pertinent revenue bond indentures. 8. Airport Lease: The airport facilities, acquired in 1964, are situated on land at Sheppard Field Air 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. 9. Contracts and Commitments: The City is contingently liable as endorser of a $400,000 note payable made by the Wichita Falls General Hospital to a bank for the purchase of land. As of September 30, 1972, the remaining balance of the note payable was $343,695 and all required payments had been made. Data processing equipment rentals of approximately $305,000 will be required for the next fiscal year. The Transit System Fund has garage rentals aggregating $3,600 annually to August 31, 1974. -17- GENERAL FUND JARRATT, COCKE & TILLERY ACCOUNTANTS AND AUDITORS TELEPHONE 322-3103 1130 FIRST WICHITA NATIONAL BANK BUILDING WICHITA FALLS,TEXAS 76301 December 29, 1972 The Honorable Mayor and Board of Aldermen of the City of Wichita Falls, Texas Our examination of your financial statements for the year ended September 30, 1972, on which we have rendered our opinion dated December 29, 1972 (included elsewhere in this Annual Report) , also comprehended the supplemental schedules, contained in the balance of this report (Exhibits B thru K) , except for the Gen- eral Fixed Asset Fund, Water and Sewer Revenue Fund fixed asset balances and the Statistical Section, as of September 30, 1972, and for the year then ended. In our opinion, such supplemental schedules (Exhibit B thru K) , except for the General Fixed Asset Fund, Water and Sewer Revenue Fund fixed asset balances and the Statistical Section as to which we do not express an opinion due to the reason set forth in the preceding paragraph, when considered in relation to the basic financial statements, present fairly in all material respects the information shown therein. Jarratt, Cocke & Tillery By: rr . Tillery ertified Public Accountant -18- CITY OF WICHITA FALLS, TEXAS Exhibit B-1 General Fund Balance Sheet September 30, 1972 Assets Cash (Exhibit B-8) . $ 288,343 Accounts Receivable: Ad valorem taxes receivable - delinquent (less $198,710 allowance for uncollectible accounts) (Exhibits B-6 and B-7) $448,685 Due from other funds 179,935 Due from other governmental units (Note) 329,553 Other (less $33,000 allowance for uncollectible accounts) 18,919 977,092 Materials And Supplies Inventory 39,099 Prepaid Expenses - Insurance, Etc. 18,207 Restricted Assets (Exhibit B-8) : Cash 3,562 Certificates of deposit 7,531 11,093 Total $1,333,834 Liabilities, Reserves And Fund Balance Liabilities: Accounts payable $102,778 Due to other funds 4,807 Due to other governmental units 5,324 Accrued payroll 160,434 $ 273,343 Reserves: For encumbrances (Exhibit B-4) 85,450 For capital improvements 73,603 Rebates, etc. 7,796 166,849 Fund Balance (Exhibit B-2) 893,642 Total $1,333,834 Note - $318,549 of the amount due from other governmental units is sales taxes receivable due from the State of Texas. -19- CITY OF WICHITA FALLS, TEXAS Exhibit B-2 General Fund Statement Of Fund Balance For The Year Ended September 30, 1972 Balance, September 30, 1971 $ 782,566 Additions: Revenues (Exhibit B-3) 7,486,041 Reserve for encumbrances, September 30, 1971 (Exhibit B-4) 76,663 7,562,704 8,345,270 Deductions: Expenditures (Exhibits B-4 and B-5) 7,366,178 Reserve for encumbrances, September 30, 1972 (Exhibit B-4) 85,450 7,451,628 Balance, September 30, 1972 $ 893,642 -20- CITY OF WICHITA FALLS, TEXAS Exhibit B-3 General Fund Revenues - Estimated And Actual For The Year Ended September 30, 1972 Actual Over (Under) Estimated Actual Estimated Taxes: Ad valorem taxes: Current (net of allowance for possible losses - $24,995) $2,461,000 $2,474,529 $13,529 Interest and penalties 52,000 53,137 1,137 Sales taxes 1,680,000 1,720,000 40,000 Other 23,100 42,050 18,950 Street Rental Charges 570,650 545,599 (25,051) Sanitation Services 986,000 997,885 11,885 Fines And Forfeitures: Municipal Court 280,000 216,454 (63,546) Library 8,000 7,707 (293) Parking Meter Revenue 121,050 118,371 (2,679) Licenses, Permits, Reports, Etc. 80,250 113,412 33,162 Service Charges And Fees: Tax collection fees 123,000 123,648 648 Golf and recreation fees 89,550 90,923 1,373 Other 56,150 62,226 6,076 Revenue From Use Of Money And Property: Rentals and concessions 54,625 64,996 10,371 Interest 5,000 10,958 5,958 School Nurse Program 60,000 60,000 -0- Contributions From Water And Sewer Revenue Fund 745,000 745,000 -0- Other Revenues: Sale of fixed assets 20,000 12,613 (7,387) Miscellaneous 26,200 26,533 333 Totals $7,441,575 $7,486,041 $44,466 -21- CITY OF WICHITA FALLS, TEXAS Exhibit B-4 General Fund Statement Of Appropriations And Expenditures For The Year Ended September 30, 1972 Authorizations Reserve For Encumbrances Appropriations Outstanding (After) At Beginning Department Revisions Of Year Total Mayor And Board Of Aldermen $ 15,520 $ 8 $ 15,528 General Administration 90,185 90,185 Legal And City Clerk 86,056 86,056 Personnel 39,828 39,828 Data Processing 329,781 2,603 332,384 Library 115,316 115,316 Health 345,195 345,195 Finance 95,563 321 95,884 Tax 162,644 162,644 Municipal Court 90,903 90,903 Police 1,296,976 1,296,976 Fire 1,083,406 215 1,083,621 Fire Marshal 50,057 50,057 Public Safety 39,659 39,659 Animal Control 34,378 34,378 Engineering 182,048 182,048 Inspection 64,220 64,220 Property Agent 22,872 22,872 Street Maintenance 582,309 40,883 623,192 Sanitation 953,444 7,249 960,693 Parks And Recreation 432,769 432,769 Golf 82,476 364 82,840 Cemetery 46,168 23 46,191 Planning 60,203 39 60,242 Traffic 279,593 17,900 297,493 Street Lighting 216,546 1,000 217,546 Parking Meters 42,563 437 43,000 Building Maintenance 123,758 216 123,974 Auditorium Services 42,596 10 42,606 Purchasing 27,339 27,339 Central Garage -0- -0- Information Center 25,734 25,734 Special Items: Stability, etc. - payroll 76,000 76,000 Wichita General Hospital 80,000 80,000 Water Improvement District #2 79,590 79,590 Contributions to other funds 70,460 70,460 Other 69,215 5,395 74,610 Totals $7,435,370 $ 76,663 $7,512,033 -22- CITY OF WICHITA FALLS, TEXAS Exhibit B-4 General Fund Statement Of Appropriations And Expenditures For The Year Ended September 30, 1972 Total Expenditures Encumbrances For The Outstanding Year Unexpended At Close (Over) Exhibit B-5 Balance Of Year Under $ 9,785 $ 5,743 $ 3,707 $ 2,036 89,382 803 803 81,174 4,882 181 4,701 39,120 708 708 283,296 49,088 46,916 2,172 112,847 2,469 2,469 346,641 (1,446) (1,446) 98,206 (2,322) (2,322) 155,776 6,868 1,641 5,227 88,779 2,124 73 2,051 1,299,960 (2,984) (2,984) 1,083,360 261 231 30 45,232 4,825 175 4,650 41,111 (1,452) (1,452) 34,006 372 372 173,932 8,116 629 7,487 64,658 (438) (438) 21,528 1,344 1,344 593,342 29,850 12,830 17,020 941,596 19,097 5,790 13,307 431,619 1,150 1,105 45 77,130 5,710 442 5,268 44,137 2,054 348 1,706 59,011 1,231 1,231 276,091 21,402 10,917 10,485 224,236 (6,690) (6,690) 38,167 4,833 445 4,388 126,031 (2,057) (2,057) 41,013 1,593 20 1,573 26,801 538 538 -0- -0- -0- 24,261 1,473 1,473 95,429 (19,429) (19,429) 80,000 -0- -0- 79,590 -0- -0- 70,460 -0- -0- 68,471 6,139 6,139 $7,366,178 $145,855 $85,450 $60,405 -22- CITY OF WICHITA FALLS, TEXAS Exhibit B-5 General Fund Statement Of Expenditures For The Year Ended September 30, 1972 Employee Insurance, Salaries Retirement Supplies And And Payroll And Department Wages Taxes Materials Mayor And Board Of Aldermen $ 1,020 $ 419 General Administration 68,787 $ 4,857 4,871 Legal And City Clerk 60,414 5,179 2,721 Personnel 29,058 3,213 3,179 Data Processing 90,604 10,393 22,633 Library 60,601 7,264 26,335 Health 251,666 27,113 32,905 Finance 52,411 6,061 5,030 Tax 118,764 14,483 9,258 Municipal Court 70,040 7,611 5,131 Police 987,746 71,104 66,143 Fire 932,751 74,217 20,904 Fire Marshall 35,550 4,357 2,401 Public Safety 28,042 2,526 2,571 Animal Control 20,328 2,526 3,138 Engineering 137,016 13,913 7,131 Inspection 50,975 5,680 3,490 Property Agent 17,481 1,278 888 Street Maintenance 268,267 32,665 35,083 Sanitation 534,508 66,915 65,459 Parks And Recreation 275,225 31,245 32,079 Golf 42,673 5,150 7,349 Cemetery 31,904 4,000 2,031 Planning 47,571 5,225 2,294 Traffic 151,738 16,267 43,112 Street Lighting Parking Meters 28,728 3,591 1,445 Building Maintenance 56,032 6,820 4,431 Auditorium Services 29,641 3,567 1,231 Purchasing 20,362 2,475 1,709 Central Garage 186,299 22,076 15,939 Information Center 19,994 1,749 517 Special Items: Stability, etc. - payroll 95,429 Wichita General Hospital Water Improvement District #2 Contributions to other funds Other Totals $4,801,625 $463,520 $431,827 -23- CITY OF WICHITA FALLS, TEXAS Exhibit B-5 General Fund Statement Of Expenditures For The Year Ended September 30, 1972 Utilities, Other Total Rentals, Insurance Charges Expenditures Outside And Fixed And For The Maintenance Services, Etc. Miscellaneous Assets (Credits) Year $ 7,890 $ 285 $ 171 $ 9,785 $ 816 9,445 606 89,382 173 11,324 131 1,232 81,174 310 2,607 96 657 39,120 8,746 209,927 6,311 6,682 $(72,000) 283,296 2,676 14,210 1,761 112,847 9,941 23,145 1,871 346,641 157 31,153 137 3,257 98,206 1,170 10,984 1,117 155,776 681 4,180 120 1,016 88,779 48,228 42,042 24,431 60,266 1,299,960 10,434 38,628 3,271 3,155 1,083,360 833 1,077 436 578 45,232 1,460 4,311 115 2,086 41,111 2,898 2,500 64 2,552 34,006 3,229 5,483 1,202 5,958 173,932 1,953 1,492 526 542 64,658 185 1,514 182 21,528 163,564 4,374 5,537 83,852 593,342 141,924 4,469 6,484 121,837 941,596 50,733 21,010 4,663 16,664 431,619 7,205 7,438 1,459 5,856 77,130 3,430 1,738 324 710 44,137 504 2,310 209 898 59,011 10,744 36,489 2,798 14,943 276,091 4,985 219,251 224,236 1,632 358 455 1,958 38,167 15,390 30,285 12,350 723 126,031 168 866 224 5,316 41,013 107 2,133 15 26,801 5,192 6,175 1,117 5,237 (242,035) -0- 119 1,765 117 24,261 95,429 80,000 80,000 79,590 79,590 70,460 70,460 552 67,919 68,471 $499,587 $760,573 $78,414 $346,698 $(16,066) $7,366,178 -23- I CITY OF WICHITA FALLS, TEXAS Exhibit B-6 General Fund Changes In Ad Valorem Taxes Receivable For The Year Ended September 30, 1972 Delinquent Current Taxes Taxes Total Balances, September 30, 1971 $655,629 $ -0- $ 655,629 Additions: Taxes levied 2,499,524 2,499,524 Transfer from current 87,417 87,417 Adjustments, etc. 83 81 164 87,500 2,499,605 2,587,105 743,129 2,499,605 3,242,734 Deductions: Collections 78,988 2,404,033 2,483,021 Transfer to delinquent 87,417 87,417 Due from trust and agency fund 6,789 8,155 14,944 Adjustments, write-offs, etc. 9,957 9,957 95,734 2,499,605 2,595,339 Balances, September 30, 1972 $647,395 $ -0- $ 647,395 -24- CITY OF WICHITA FALLS, TEXAS Exhibit B-7 General Fund Aged Schedule Of Ad Valorem Taxes Receivable September 30, 1972 Fiscal Year Amount 1954 And Prior $ 18,134 1955 - 1956 4,431 1956 - 1957 5,042 1957 - 1958 6,554 1958 - 1959 8,267 1959 - 1960 11,529 1960 - 1961 15,627 1961 - 1962 16,261 1962 - 1963 21,641 1963 - 1964 55,785 1964 - 1965 45,343 1965 - 1966 51,869 1966 - 1967 68,414 1967 - 1968 65,106 1968 - 1969 43,210 1969 - 1970 56,516 1970 - 1971 66,249 1971 - 1972 87,417 Gross Taxes Receivable 647,395 Allowance For Uncollectible Taxes Receivable (198,710) Net Taxes Receivable $448,685 -25- CITY OF WICHITA FALLS, TEXAS Exhibit B-8 General Fund Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Balances, September 30, 1971: Unrestricted cash: Cash in bank - demand deposits $ 214,023 Petty cash 845 $ 214,868 Restricted cash: Cash in bank - demand deposits 971 Certificates of deposits 7,174 8,145 223,013 Receipts: General revenues 3,268,627 From tax collections - ad valorem taxes current and non-current 2,483,021 Contributions from water and sewer fund 745,000 Sanitation services 991,146 Sales taxes receivable 297,402 Inter-fund charges, receivables, payables, etc. 511,468 Refunds, rebates, funds collected for others, etc. 256,541 8,553,205 8,776,218 Disbursements: Expenditures 7,112,331 Materials and supplies - inventories 336,400 Accounts payable, etc. 287,130 Inter-fund charges, receivables, payables, etc. 549,132 Refunds, rebates, funds collected for others, etc. 191,789 8,476,782 Balances, September 30, 1972: Unrestricted cash: Cash in bank - demand deposits $287,398 Petty cash 945 288,343 Restricted cash: Cash in bank - demand deposits 3,562 Certificates of deposits 7,531 11,093 $ 299,436 -26- PARTICIPATION PAVING FUND CITY OF WICHITA FALLS, TEXAS Exhibit C-1 Participation Paving Fund Balance Sheet September 30, 1972 Assets Cash (Exhibit C-3) $179,630 Accounts Receivable: Paving receivables $388,775 Due from other funds 1,288 390,063 Total $569,693 Liabilities, Reserves And Fund Balance Liabilities: Accounts payable $ 2,933 Advance payments, etc. 8,428 $ 11,361 Reserve For Rebates, Etc. 1,446 Fund Balance (Exhibit C-2) 556,886 Total $569,693 -27- CITY OF WICHITA FALLS, TEXAS Exhibit C-2 Participation Paving Fund Statement Of Revenues And Expenditures And Fund Balance For The Year Ended September 30, 1972 Revenues: Street paving assessments $ 34,436 Alley paving assessments 25,132 Interest on paving receivables 16,868 Contributions from general fund 70,460 146,896 Expenditures For Street And Alley Paving 117,656 Excess Of Revenues Over Expenditures 29,240 Fund Balance, September 30, 1971 527,646 Fund Balance, September 30, 1972 $556,886 -28- CITY OF WICHITA FALLS, TEXAS Exhibit C-3 Participation Paving Fund Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Balance, September 30, 1971 - Cash in bank - demand deposits $ 96,287 Receipts: Collections of paving receivables $158,695 Contributions from general fund 70,460 Advance payments, etc. 28,625 Interest on paving receivables 14,853 Due from other funds 13,334 285,967 382,254 Disbursements: Paving expenditures 114,723 Due to other funds 85,632 Refunds, etc. 2,269 202,624 Balance, September 30, 1972 - Cash in bank - demand deposits $179,630 -29- AIRPORT REVENUE FUND CITY OF WICHITA FALLS, TEXAS Exhibit D-1 Airport Fund Balance Sheet September 30, 1972 Assets Current Assets: Cash (Exhibit D-4) $ 56,921 Trade accounts receivable 20,586 $ 77,507 Restricted Assets (Exhibit D-4) : Revenue bond debt service - cash 20,332 Revenue bond reserve - certificates of deposit 39,244 59,576 Plant And Equipment (Exhibit D-3) : Land betterments 11,268 Buildings and improvements 494,281 Furniture and fixtures 18,077 Machinery and equipment 15,505 Motor vehicles 4,003 Total plant and equipment 543,134 Less accumulated depreciation (92,240) 450,894 Total $587,977 Liabilities And Retained Earnings Current Liabilities (Payable From Current Assets)- Due to other funds $ 3,881 Current Liabilities (Payable From Restricted Assets) : Accrued revenue bond interest 7,125 Revenue bonds payable (Exhibit L-9) 25,000 $ 36,006 Revenue Bonds Payable (Exhibit L-9) : Series 1964 - interest 3-1/2%, 3-3/4% and 4%-maturing serially 265,000 Less current maturity (20,000) Series 1967 - interest 4% - maturing serially 120,000 Less current maturity (5,000) 360,000 Retained Earnings (Exhibit D-2) 191,971 Total $587,977 -30- CITY OF WICHITA FALLS, TEXAS Exhibit D-2 Airport Fund Statement Of Operations And Retained Earnings For The Year Ended September 30, 1972 Operating Revenues $118,504 Operating Expenses: Salaries and wages $34,821 Social Security 1,761 Employees' retirement plan 1,448 Employees' insurance 636 Supplies 3,445 Maintenance 8,241 Utilities and telephone 14,035 Landing fee rental 8,905 Other 1,943 75,235 43,269 Interest Income 2,047 45,316 Other Expenses: Interest on revenue bonds 16,041 Depreciation (Exhibit D-3) 15,624 31,665 Net Income For The Year 13,651 Retained Earnings, September 30, 1971 178,320 Retained Earnings, September 30, 1972 $191,971 -31- CITY OF WICHITA FALLS, TEXAS Exhibit D-3 Airport Fund Statement Of Plant, Equipment And Depreciation For The Year Ended September 30, 1972 Plant And Equipment Balances Transfers Balances 9/30/71 Additions Deletions In (Out) 9/30/72 Land Betterments $ 941 $ 10,327 $ $ $ 11,268 Buildings And Improvements 494,031 250 494,281 Furniture And Fixtures 18,077 18,077 Machinery And Equipment 15,090 415 15,505 Motor Vehicles 4,003 4,003 Totals $532,142 $ 10,992 $ $ $543,134 -32- CITY OF WICHITA FALLS, TEXAS Exhibit D-3 Airport Fund Statement Of Plant, Equipment And Depreciation For The Year Ended September 30, 1972 Accumulated Depreciation Net Balances Transfers Balances Plant And 9/30/71 Additions Deletions In (Out) 9/30/72 Equipment $ 66 $ 225 $ $ $ 291 $ 10,977 58,965 11,088 70,053 424,228 9,418 1,808 11,226 6,851 6,107 1,503 7,610 7,895 2,060 1,000 3,060 943 $ 76,616 $ 15,624 $ $ $ 92,240 $450,894 -32- CITY OF WICHITA FALLS, TEXAS Exhibit D-4 Airport Fund Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Revenue Bond Operating Debt Service Reserve Total Fund Fund Fund Balances, September 30, 1971: Cash in bank: Demand deposits $ 74,083 $ 53,714 $ 20,327 $ 42 Certificates of deposits 41,500 2,500 39,000 115,583 53,714 22,827 39,042 Receipts: Operating revenues 97,918 97,918 Trade receivables 14,522 14,522 Intra-fund transfers 33,891 33,891 Inter-fund receivables 5,209 5,209 Interest on certificates of deposit 2,047 2,047 153,587 117,649 33,891 2,047 269,170 171,363 56,718 41,089 Disbursements: Operating expenses 71,355 71,355 Plant and equipment additions 10,992 10,992 Intra-fund transfers 32,046 32,046 Intra-fund transfers of excess accumulation 1,845 1,845 (A) Accounts payable 49 49 Revenue bond principal payments-serial bonds 20,000 20,000 Revenue bond interest payments 16,386 16,386 152,673 114,442 36,386 1,845 Balances, September 30, 1972: Cash in bank: Demand deposits 77,253 56,921 20,332 Certificates of deposits 39,244 39,244 $116,497 $ 56,921 $ 20,332 $39,244 (A) (A) The bond reserve fund cash balance required by the revenue bond indentures is $39,000. -33- WATER AND S=WER REVENUE FUND CITY OF WICHITA FALLS, TEXAS Exhibit E-1 Water And Sewer Revenue Fund Balance Sheet September 30, 1972 Assets Current Assets: Cash (Exhibit E-4) $ 313,073 Trade receivables (less $10,000 allowance for uncollectible accounts) 215,582 Other receivables 8,832 Inventory of materials and supplies (average cost) 168,604 Due from other funds 8,846 $ 714,937 Restricted Assets (Exhibit E-4) : Cash 825,132 Certificates of deposit 1,431,961 2,257,093 Property And Equipment - Net (Exhibit E-3) 30,669,620 Prepaid And Deferred Expenses 28,053 Total $33,669,703 Liabilities And Retained Earnings Current Liabilities - Payable from current assets: Accounts payable $ 28,311 Accrued payroll 22,200 Due to other funds 114,865 $ 165,376 Current Liabilities - Payable from restricted assets: Accounts payable 209,347 Accrued revenue bond interest payable 59,959 Current maturities - revenue bonds (Exhibit L-9) 550,000 819,306 Revenue Bonds Payable (Exhibit L-9) : Series 1963 3,600,000 Series 1966 2,825,000 Series 1966A 1,425,000 Series 1968 1,875,000 Total revenue bonds payable 9,725,000 Less current maturities (550,000) 9,175,000 Consumer Deposits 283,788 Refunding Contracts 55,011 Retained Earnings (Exhibit E-2) 23,171,222 Total $33,669,703 -34- CITY OF WICHITA FALLS, TEXAS Exhibit E-2 Water And Sewer Revenue Fund Statement Of Operations And Retained Earnings For The Year Ended September 30, 1972 Operating Revenues: Water sales $2,719,745 Sewer service 486,503 Other 89,001 $ 3,295,249 Operating Expenses: Salaries and wages 812,840 Payroll taxes 41,190 Employee insurance 16,625 Employee retirement 37,541 Supplies and materials 209,129 Maintenance 154,205 Utilities 145,371 Data processing 72,000 Insurance 14,102 Other 21,355 1,524,358 Operating profit before depreciation and interest 1,770,891 Depreciation (Exhibit E-3) 882,482 Operating profit after depreciation and before interest 888,409 Interest: Income 99,992 Expense - revenue bond (372,824) Net Income For The Year 615,577 Retained Earnings, Beginning Of Year 23,141,297 Contributions In Aid Of Construction 159,348 Contributions To General Fund (745,000) Retained Earnings, End Of Year $23,171,222 -35- CITY OF WICHITA FALLS, TEXAS Exhibit E-3 Water And Sewer Revenue Fund Statement Of Property, Equipment And Depreciation For The Year Ended September 30, 1972 Property And Equipment Balance Balance 9/30/71 Additions Deletions Transfers 9/30/72 Water: Land and betterments $12,000,230 $ 2,640 $11,997,590 Buildings, plants and facilities 18,779,838 $ 34,120 $ 5,953 18,819,911 Furniture and fixtures .11,637 43 209 11,471 Machinery and equipment 853,461 14,630 14,456 853,635 Motor vehicles 79,554 17,763 9,143 88,174 Construction in progress 210,656 43,569 (5,953) 248,272 Total water 31,935,376 110,125 26,448 -0- 32,019,053 Sewer: Land and betterments 78,748 78,748 Buildings, plants and facilities 7,727,821 81,755 7,809,576 Furniture and fixtures 608 608 Machinery and equipment 52,232 775 53,007 Motor vehicles 25,922 13,593 1,450 38,065 Construction in progress 12,510 289,696 (81,755) 220,451 Total sewer 7,897,841 304,064 1,450 -0- 8,200,455 Total Water And Sewer: Land and betterments 12,078,978 2,640 12,076,338 Buildings, plants and facilities 26,507,659 34,120 87,708 26,629,487 Furniture and fixtures 12,245 43 209 12,079 Machinery and equipment 905,693 15,405 14,456 906,642 Motor vehicles 105,476 31,356 10,593 126,239 Construction in progress 223,166 333,265 (87,708) 468,723 Total water & sewer $39,833,217 $414,189 $ 27,898 $ -0- $40,219,508 -36- CITY OF WICHITA FALLS, TEXAS Exhibit E-3 Water And Sewer Revenue Fund Statement Of Property, Equipment And Depreciation For The Year Ended September 30, 1972 Depreciation Net Balance Balance Plant And 9/30/71 Additions Deletions Transfers 9/30/72 Equipment $ 400,694 $120,247 $ 68,077 $ 589,018 $11,408,572 5,531,842 464,459 (68,077) 5,928,224 12,891,687 9,249 521 $ 184 9,586 1,885 501,663 54,323 14,367 541,619 312,016 51,698 12,154 8,313 55,539 32,635 -0- -0- 248,272 6,495,146 651,704 22,864 -0- 7,123,986 24,895,067 -0- 1,936 1,936 76,812 2,137,067 221,498 2,358,565 5,451,011 507 47 554 54 44,093 3,381 47,474 5,533 14,907 3,916 1,450 17,373 20,692 -0- -0- 220,451 2,196,574 230,778 1,450 -0- 2,425,902 5,774,553 400,694 122,183 68,077 590,954 11,485,384 7,668,909 685,957 (68,077) 8,286,789 18,342,698 9,756 568 184 10,140 1,939 545,756 57,704 14,367 589,093 317,549 66,605 16,070 9,763 72,912 53,327 -0- -0- 468,723 $8,691,720 $882,482 $ 24,314 $ -0- $9,549,888 $30,669,620 -36- CITY OF WICHITA FALLS, TEXAS Exhibit E-4 Water And Sewer Revenue Fund Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Unrestricted Total Cash Balances, September 30, 1971: Cash in bank: Demand deposits $ 140,081 $ 118,980 Certificates of deposit 2,335,000 Petty cash 1,000 1,000 2,476,081 119,980 Receipts: Accounts collected for other funds 1,013,140 1,013,140 Operating revenues 3,063,539 3,063,539 Consumer deposits 72,052 72,052 Due from other funds 99,336 99,336 Intra-fund transfers 887,512 Inventory charges to other funds 68,739 68,739 Interest on certificates of deposit 99,992 Accounts receivable 220,766 220,766 5,525,076 4,537,572 8,001,157 4,657,552 Disbursements: Accounts collected for other funds 927,363 927,363 Operating expenses 1,399,574 1,399,574 Contributions to general fund 745,000 745,000 Intra-fund transfers 857,737 857,737 Intra-fund transfers - excess provision 29,775 Due to other funds 115,149 114,760 Refunding contracts 20,977 20,977 Inventory purchases 171,443 171,443 Trade payables 42,987 42,337 Fixed asset additions 173,237 49,340 Bond principal payments 550,000 Bond interest payments 376,656 Other, refunds, etc. 21,093 15,948 5,430,991 4,344,479 Balances, September 30, 1972: Cash in bank: Demand deposits 1,137,205 312,073 Certificates of deposit 1,431,961 Petty cash 1,000 1,000 $2,570,166 $ 313,073 (A) The revenue bond reserve requirement, for all outstanding revenue bonds, is $845,100. -37- CITY OF WICHITA FALLS, TEXAS Exhibit E-4 Water And Sewer Revenue Fund Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Restricted Cash Total Interest And Reserve Revenue Bonds Restricted Sinking Fund Fund Series 1963 Series 1968 $ 21,101 $ 1,837 $ 100 $ 10,972 $ 8,192 2,335,000 235,000 845,000 345,000 910,000 2,356,101 236,837 845,100 355,972 918,192 887,512 887,512 99,992 6,709 36,636 14,229 42,418 987,504 894,221 36,636 14,229 42,418 3,343,605 1,131,058 881,736 370,201 960,610 29,775 29,775 (A) 389 125 264 650 650 123,897 1,747 122,150 550,000 550,000 376,656 376,656 5,145 5,145 1,086,512 926,656 29,775 7,017 123,064 825,132 204,402 363,184 257,546 1,431,961 851,961 580,000 $2,257,093 $ 204,402 $851,961 (A) $363,184 $837,546 (A) The revenue bond reserve requirement, for all outstanding revenue bonds, is $845,100. -37- DEBT SERVICE FUND CITY OF WICHITA FALLS, TEXAS Exhibit F-1 Debt Service Fund Balance Sheet September 30, 1972 Assets Cash (Exhibit F-5) $ 12,349 Certificates Of Deposit (Exhibit F-5) 105,000 Accounts Receivable: Taxes receivable - delinquent (Exhibits F-3 and F-4) $ 395,353 Allowances for uncollectible taxes (116,203) 279,150 Due from other funds 12,702 291,852 Total $409,201 Liabilities, Reserves And Fund Balance Fund Balance (Exhibit F-2) $409,201 Total $409,201 -38- CITY OF WICHITA FALLS, TEXAS Exhibit F-2 Debt Service Fund Statement Of Reserve For Future Debt Payments For The Year Ended September 30, 1972 Balance, September 30, 1971 $ 457,356 Add - Revenues: Property taxes (less allowances for estimated losses of $24,995) $2,474,529 Interest on certificates of deposit 19,524 2,494,053 2,951,409 Deduct - Expenditures (Note) : General obligation serial bond maturities 1,570,000 Interest on general obligation bonds 970,769 Paying agents' fee 1,439 2,542,208 Balance, September 30, 1972 $ 409,201 Note - Expenditures were in the same amount as revised appropriations for the year ended September 30, 1972 and there were no encumbrances outstanding at the beginning or end of the fiscal year. -39- CITY OF WICHITA FALLS, TEXAS Exhibit F-3 Debt Service Fund Changes In Taxes Receivable For The Year Ended September 30, 1972 Delinquent Current Taxes Taxes Total Balances, September 30, 1971 $372,219 $ -0- $ 372,219 Additions: Taxes levied 2,499,524 2,499,524 Transfer from current 87,417 87,417 Adjustments, etc. 53 81 134 87,470 2,499,605 2,587,075 459,689 2,499,605 2,959,294 Deductions: Collections 53,996 2,404,033 2,458,029 Transfer to delinquent 87,417 87,417 Due from trust and agency fund 4,547 8,155 12,702 Adjustments, write-off, etc. 5,793 5,793 64,336 2,499,605 2,563,941 Balances, September 30, 1972 $395,353 $ -0- $ 395,353 -40- CITY OF WICHITA FALLS, TEXAS Exhibit F-4 Debt Service Fund Aged Schedule Of Taxes Receivable September 30, 1972 Fiscal Year Amount 1954 And Prior $ 4,481 1955 - 1956 1,280 1956 - 1957 1,452 1957 - 1958 1,773 1958 - 1959 2,010 1959 - 1960 3,041 1960 - 1961 4,069 1961 - 1962 5,274 1962 - 1963 7,019 1963 - 1964 18,092 1964 - 1965 19,433 1965 - 1966 26,839 1966 - 1967 40,179 1967 - 1968 37,261 1968 - 1969 36,957 1969 - 1970 42,129 1970 - 1971 56,647 1971 - 1972 87,417 Gross Taxes Receivable $395,353 Less - Allowances For Uncollectible Taxes Receivable 116,203 Net Taxes Receivable $279,150 -41- CITY OF WICHITA FALLS, TEXAS Exhibit F-5 Debt Service Fund Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Balance, September 30, 1971 - Cash in bank - demand deposits $ 156,552 Receipts: Taxes receivable - property $2,458,029 Interest on certificates of deposit 19,524 Due from other funds 25,585 2,503,138 2,659,690 Disbursements: General obligation serial bond maturities 1,570,000 Interest on general obligation bonds 970,769 Paying agents' fee 1,439 Refunds - taxes receivable 133 2,542,341 Balance, September 30, 1972: Cash in bank: Demand deposits 12,349 Certificates of deposit 105,000 $ 117,349 -42- CAPITAL PROJECTS FUNDS CITY OF WICHITA FALLS, TEXAS Exhibit G-1 Capital Projects Funds Combined Balance Sheet September 30, 1972 Waterworks Combined Improvements Total 1959 Assets Cash (Exhibit G-3) : Demand deposits $270,534 $15,131 Certificates of deposit 270,534 15,131 Accounts Receivable: Due from other funds 4,479 Due from other governmental units 487,182 491,661 Bonds Authorized And Unissued Totals $762,195 $15,131 Liabilities, Reserves And Fund Balances Liabilities: Accounts payable $ 61,260 $ 10 Due to other funds 8,306 8,291 69,566 8,301 Reserve For Encumbrances (Exhibit G-2) 205,665 Fund Balances (Exhibit G-2) 486,964 6,830 Totals $762,195 $15,131 -43- CITY OF WICHITA FALLS, TEXAS Exhibit G-1 Capital Projects Funds Combined Balance Sheet September 30, 1972 Street And Health Unit Street And Storm Drainage Building Storm Drainage 1963 1968 1968 $13,169 $242,234 13,169 242,234 4,479 487,182 491,661 $ -0- $13,169 $733,895 $ 61,250 15 61,265 205,665 $13,169 466,965 $ -0- $13,169 $733,895 -43- CITY OF WICHITA FALLS, TEXAS Exhibit G-2 Capital Projects Funds Combined Statement Of Authorizations, Expenditures And Encumbrances For The Year Ended September 30, 1972 Waterworks Combined Improvements Total 1959 Amount Appropriated - Bonds Authorized $18,855,000 $4,000,000 Additions: Prior years 1,694,111 123,505 Current year: Interest on certificates of deposit 35,990 2,758 Miscellaneous 559 20,585,660 4,126,263 Less Expenditures: Prior years 18,072,991 4,053,171 Current year 1,820,040 66,262 19,893,031 4,119,433 Unexpended Balance 692,629 6,830 Less - Reserve For Encumbrances, September 30, 1972 205,665 Fund Balances, September 30, 1972 $ 486,964 $ 6,830 -44- CITY OF WICHITA FALLS, TEXAS Exhibit G-2 Capital Projects Funds Combined Statement Of Authorizations, Expenditures And Encumbrances For The Year Ended September 30, 1972 Street And Health Unit Street And Storm Drainage Building Storm Drainage 1963 1968 1968 $3,795,000 $390,000 $10,670,000 409,883 586,937 573,786 33,232 559 4,205,442 976,937 11,277,018 4,194,447 941,204 8,884,169 10,995 22,564 1,720,219 4,205,442 963,768 10,604,388 -0- 13,169 672,630 205,665 $ -0- $ 13,169 $ 466,965 -44- CITY OF WICHITA FALLS, TEXAS Exhibit G-3 Capital Projects Funds Combined Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Waterworks Combined Improvements Total 1959 Balances, September 30, 1971: Cash in bank: Demand deposits $ 159,496 $ 142 Certificates of deposit 1,725,000 75,000 1,884,496 75,142 Receipts: Interest on certificates of deposit 35,990 2,758 Inter-fund receivables 100,487 Accounts receivable from other governmental units 597,561 State of Texas - joint projects participation 957,322 Reimbursement of expenditures - other 19,314 Other 133 1,710,807 2,758 3,595,303 77,900 Disbursements: Inter-fund payables 24,591 4,808 Accounts payable 81,407 Bond project costs 3,218,771 57,961 3,324,769 62,769 Balances, September 30, 1972: Cash in bank: Demand deposits 270,534 15,131 Certificates of deposit $ 270,534 $15,131 -45- CITY OF WICHITA FALLS, TEXAS Exhibit G-3 Capital Projects Funds Combined Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Street And Health Unit Street And Storm Drainage Building Storm Drainage 1963 1968 1968 $ 230 $ 320 $ 158,804 1,650,000 230 320 1,808,804 33,232 10,632 89,855 41,913 555,648 957,322 19,314 133 10,765 41,913 1,655,371 10,995 42,233 3,464,175 6,500 13,283 81,407 10,995 22,564 3,127,251 10,995 29,064 3,221,941 -0- 13,169 242,234 $ -0- $13,169 $ 242,234 -45- TRUST AND AGENCY FUNDS CITY OF WICHITA FALLS, TEXAS Exhibit H-1 Page 1 of 3 Trust And Agency Funds Combined Balance Sheet September 30, 1972 Combined Social Total Security Payroll Assets Cash (Exhibit H-3) $312,849 $115,864 Due From Other Governmental Units 161,943 Other Receivables 2,001 Securities Held In Trust 10,000 Totals $486,793 $115,,864 $ -0- Liabilities, Reserves And Fund Balances Accounts Payable $105,944 Due To Other Funds 59,347 Due To Other Governmental Units 149,788 $115,864 Reserve For Encumbrances (Exhibit H-2) 59,127 Fund Balances (Exhibit H-2) 112,587 Totals $486,793 $115,864 $ -0- -46- CITY OF WICHITA FALLS. TEXAS Exhibit H-1 Page 1 of 3 Trust And Agency Funds Combined Balance Sheet September 30, 1972 Cab Total Grants Company Tax Tax Clearing (Page 2) Trust Refund Collection Fund Forward $1,677 $70,907 $2,999 $121,402 161,943 2,001 $10,000 $10,000 $1,677 $70,907 $5,000 $283,345 $1,677 $104,267 $36,983 $5,000 17,364 33,924 59,127 $10,000 102,587 $10,000 $1,677 $70,907 $5,000 $283,345 -46- CITY OF WICHITA FALLS, TEXAS Exhibit H-1 Page 2 of 3 Trust And Agency Funds Combined Balance Sheet September 30, 1972 Total Municipal Emergency Grants Information Employment Forward System Grant Assets Cash (Exhibit H-3) $121,402 $ 39,954 $10,641 Due From Other Governmental Units 161,943 114,501 Other Receivables Securities Held In Trust Totals $283,345 $154,455 $10,641 Liabilities, Reserves And Fund Balances Accounts Payable $104,267 $ 90,674 Due To Other Funds 17,364 1,810 Due To Other Governmental Units Reserve For Encumbrances (Exhibit H-2) 59,127 $10,641 Fund Balances (Exhibit H-2) 102,587 61,971 Totals $283,345 $154,455 $10,641 -47- CITY OF WICHITA FALLS, TEXAS Exhibit H-1 Page 2 of 3 Trust And Agency Funds Combined Balance Sheet September 30, 1972 Container Urban Mass Police Page 3 Train Transportation Systems Drug Totals Study Study Management Administration Forward $ 268 $1,078 $14,077 $1,200 $ 54,184 47,442 $ 268 $1,078 $14,077 $1,200 $101,626 $13,593 $4,800 56 $ 15 $ 10,683 $ 268 428 1,185 46,605 (3,722) 44,338 $ 268 $1,078 $14,077 $1,200 $101,626 -47- CITY OF WICHITA FALLS, TEXAS Exhibit H-1 Page 3 of 3 Trust And Agency Funds Combined Balance Sheet September 30, 1972 Page 3 Narcotics Totals Camps Intelligence Forward Fund Fund Assets Cash (Exhibit H-3) $ 54,184 $8,082 $13,835 Due From Other Governmental Units 47,442 Other Receivables Securities Held In Trust Totals $101,626 $8,082 $13,835 Liabilities, Reserves And Fund Balances Accounts Payable Due To Other Funds $ 10,683 $ 144 $ 5,300 Due To Other Governmental Units Reserve For Encumbrances (Exhibit H-2) 46,605 7,938 8,535 Fund Balances (Exhibit H-2) 44,338 Totals $101,626 $8,082 $13,835 -48- CITY OF WICHITA FALLS, TEXAS Exhibit H-1 Page 3 of 3 Trust And Agency Funds Combined Balance Sheet September 30, 1972 Public Comprehensive Reserve Topics Services Planning Lucy For Fund Careers Grant Park Lucy Park $ 9,592 $5,974 $ 301 $ 775 $15,625 34,775 2,502 10,165 $44,367 $5,974 $2,803 $10,940 $15,625 $ 29 $ 307 $2,803. $ 2,100 5,667 8,840 $15,625 44,338 $44,367 $5,974 $2,803 $10,940 $15,625 -48- CITY OF WICHITA FALLS, TEXAS Exhibit H-2 Page 1 of 3 Trust And Agency Funds Combined Statement Of Revenues, Expenditures And Fund Balances For The Year Ended September 30, 1972 Combined Social Total Security Payroll Fund Balances, September 30, 1971 $ 74,864 $ -0- $ -0- Additions: Federal and State grants 1,280,308 Contributions by other city funds 36,155 Contributions - others 30,848 1,347,311 -0- -0- 1,422,175 -0- -0- Deductions - Project Expenditures 1,250,461 1,250,461 -0- -0- Unexpended Balance 171,714 -0- -0- Less - Reserve For Encumbrances, September 30, 1972 59,127 Fund Balances, September 30, 1972 $ 112,587 $ -0- $ -0- -49- CITY OF WICHITA FALLS, TEXAS Exhibit H-2 Page 1 of 3 Trust And Agency Funds Combined Statement Of Revenues, Expenditures And Fund Balances For The Year Ended September 30, 1972 Cab Total Grants Company Tax Tax Clearing (Page 2) Trust Refund Collection Fund Forward $10,000 $ -0- $ -0- $ -0- $ 64,864 1,280,308 36,155 30,848 -0- -0- -0- -0- 1,347,311 10,000 -0- -0- -0- 1,412,175 1,250,461 -0- -0- -0- -0- 1,250,461 10,000 -0- 161,714 59,127 $10,000 $ -0- $ -0- $ -0- $ 102,587 -49- CITY OF WICHITA FALLS, TEXAS Exhibit H-2 Page 2 of 3 Trust And Agency Funds Combined Statement Of Revenues, Expenditures And Fund Balances For The Year Ended September 30, 1972 Total Municipal Emergency Grants Information Employment Forward System Grant Fund Balances, September 30, 1971 $ 64,864 $ 30,649 $ 3,529 Additions: Federal and State grants 1,280,308 902,939 80,634 Contributions by other city funds 36,155 Contributions - others 30,848 1,347,311 902,939 80,634 1,412,175 933,588 84,163 Deductions - Project Expenditures 1,250,461 871,617 73,522 1,250,461 871,617 73,522 Unexpended Balance 161,714 61,971 10,641 Less - Reserve For Encumbrances, September 30, 1972 59,127 10,641 Fund Balances, September 30, 1972 $ 102,587 $ 61,971 $ -0- -50- CITY OF WICHITA FALLS, TEXAS Exhibit H-2 Page 2 of 3 Trust And Agency Funds Combined Statement Of Revenues, Expenditures And Fund Balances For The Year Ended September 30, 1972 Container Urban Mass Police Page 3 Train Transportation Systems Drug Totals Study Study Management Administration Forward $ 7,233 $(3,722) $ (33) $ 3,657 $ 23,551 35,554 10,419 250,762 1,600 1,000 33,555 30,848 1,600 -0- 35,554 11,419 315,165 8,833 (3,722) 35,521 15,076 338,716 8,565 35,093 13,891 247,773 8,565 -0- 35,093 13,891 247,773 268 (3,722) 428 1,185 90,943 268 428 1,185 46,605 $ -0- $(3,722) $ -0- $ -0- $ 44,338 -50- CITY OF WICHITA FALLS, TEXAS Exhibit H-2 Page 3 of 3 Trust And Agency Funds Combined Statement Of Revenues, Expenditures And Fund Balances For The Year Ended September 30, 1972 Page 3 Narcotics Totals Camps Intelligence Forward Fund Fund Fund Balances, September 30, 1971 $ 23,551 $ 5,266 $18,285 Additions: Federal and State grants 250,762 20,000 31,245 Contributions by other city funds 33,555 20,036 Contributions - others 30,848 315,165 20,000 51,281 338,716 25,266 69,566 Deductions - Project Expenditures 247,773 17,328 61,031 247,773 17,328 61,031 Unexpended Balance 90,943 7,938 8,535 Less - Reserve For Encumbrances, September 30, 1972 46,605 7,938 8,535 Fund Balances, September 30, 1972 $ 44,338 $ -0- $ -0- -51- CITY OF WICHITA FALLS, TEXAS Exhibit H-2 Page 3 of 3 Trust And Agency Funds Combines Statement Of Revenues, Expenditures And Fund Balances For The Year Ended September 30, 1972 Public Comprehensive Reserve Topics Services Planning Lucy For Fund Careers Grant Park Lucy Park $ -0- $ -0- $ -0- $ -0- $ -0- 143,117 43,733 2,502 10,165 9,137 4,382 15,223 15,625 143,117 43,733 11,639 29,770 15,625 143,117 43,733 11,639 29,770 15,625 98,779 38,066 11,639 20,930 98,779 38,066 11,639 20,930 -0- 44,338 5,667 -0- 8,840 15,625 5,667 8,840 15,625 $ 44,338 $ -0- $ -0- $ -0- $ -0- -51- CITY OF WICHITA FALLS, TEXAS Exhibit H-3 Page 1 of 3 Trust And Agency Funds Combined Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Combined Social Total Security Balances, September 30, 1971 - Cash in bank - demand deposits $ 242,495 $103,058 Receipts: Other funds - payroll and related 7,015,991 465,567 Ad valorem taxes 9,951,229 Advances - other funds 9,435 Contributions by other funds 22,636 Federal and State grants 1,268,143 Contributions - others 15,625 For tax refunds 4,213 Other 10,159 1 18,297,431 465,568 18,539,926 568,626 Disbursements: Accounts payable 137,533 Due to other funds 33,431 Payroll and related 7,003,185 452,761 Taxes collected for city funds 5,042,941 Taxes collected for other governmental units 4,912,000 Tax refunds 12,649 Project expenditures 1,084,602 Other 736 1 18,227,077 452,762 Balances, September 30, 1972 - Cash in bank - demand deposits $ 312,849 $115,864 -52- CITY OF WICHITA FALLS, TEXAS Exhibit H-3 Page 1 of 3 Trust And Agency Funds Combined Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Cab Total Grants Company Tax Tax Clearing (Page 2) Payroll Trust Refund Collection Fund Forward $ -0- $ -0- $10,113 $ 74,619 $3,734 $ 50,971 6,550,424 9,951,229 9,435 22,636 1,268,143 15,625 4,213 10,158 6,550,424 -0- 4,213 9,951,229 -0- 1,325,997 6,550,424 -0- 14,326 10,025,848 3,734 1,376,968 137,533 33,431 6,550,424 5,042,941 4,912,000 12,649 1,084,602 735 6,550,424 -0- 12,649 9,954,941 735 1,255,566 $ -0- $ -0- $ 1,677 $ 70,907 $2,999 $ 121,402 -52- CITY OF WICHITA FALLS, TEXAS Exhibit H-3 Page 2 of 3 Trust And Agency Funds Combined Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Total Municipal Grants Information Forward System Balances, September 30, 1971 - Cash in bank - demand deposits $ 50,971 $ 10,208 Receipts: Other funds - payroll and related Ad valorem taxes Advances - other funds 9,435 Contributions by other funds 22,636 Federal and State grants 1,268,143 933,898 Contributions - others 15,625 For tax refunds Other 10,158 10,102 1,325,997 944,000 1,376,968 954,208 Disbursements: Accounts payable 137,533 137,127 Due to other funds 33,431 32,106 Payroll and related Taxes collected for city funds Taxes collected for other governmental units Tax refunds Project expenditures 1,084,602 745,021 Other 1,255,566 914,254 Balances, September 30, 1972 - Cash in bank - demand deposits $ 121,402 $ 39,954 -53- CITY OF WICHITA FALLS, TEXAS Exhibit H-3 Page 2 of 3 Trust And Agency Funds Combined Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Emergency Container Urban Mass Police Page 3 Employment Train Transportation Systems Drug Totals Grant Study Study Management Administration Forward $ 3,529 $7,326 $1,078 $ -0- $ 3,789 $ 25,041 9,435 1,600 1,000 20,036 80,634 35,554 10,419 207,638 15,625 56 80,634 1,600 -0- 35,610 11,419 252,734 84,163 8,926 1,078 35,610 15,208 277,775 64 93 249 29 32 24 1,240 73,522 8,565 21,501 13,891 222,102 73,522 8,658 -0- 21,533 14,008 223,591 $10,641 $ 268 $1,078 $14,077 $ 1,200 $ 54,184 -53- CITY OF WICHITA FALLS, TEXAS Exhibit H-3 Page 3 of 3 Trust And Agency Funds Combined Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Page 3 Totals Camps Forward Fund Balances, September 30, 1971 - Cash in bank - demand deposits $ 25,041 $ 5,411 Receipts: Other funds - payroll and related Ad valorem taxes Advances - other funds 9,435 Contributions by other funds 20,036 Federal and State grants 207,638 20,000 Contributions - others 15,625 For tax refunds Other 252.734 20,000 277,775 25,411 Disbursements: Accounts payable 249 93 Due to other funds 1,240 51 Payroll and related Taxes collected for city funds Taxes collected for other governmental units Tax refunds Project expenditures 222,102 17,185 Other 223,591 17,329 Balances, September 30, 1972 - Cash in bank - demand deposits $ 54,184 $ 8,082 -54- CITY OF WICHITA FALLS, TEXAS Exhibit H-3 Page 3 of 3 Trust And Agency Funds Combined Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Narcotics Public Comprehensive Reserve Intelligence Topics Services Planning Lucy For Fund Fund Careers Grant Park Lucy Park $19,630 $ -0- $ -0- $ -0- $ -0- $ -0- 5,235 2,700 1,500 20,036 31,245 112,660 43,733 15,625 56,516 112,660 43,733 2,700 1,500 15,625 76,146 112,660 43,733 2,700 1,500 15,625 156 1,189 I 60,966 103,068 37,759 2,399 725 62,311 103,068 37,759 2,399 725 -0- $13,835 $ 9,592 $ 5,974 $ 301 $ 775 $15,625 -54- GENERAL FIXED ASSETS CITY OF WICHITA FALLS, TEXAS Exhibit I-1 General Fixed Assets Balance Sheet September 30, 1972 Assets Land, Streets And Land Betterments $29,799,185 Buildings And Improvements 4,179,501 Furniture And Fixtures 633,289 Machinery And Equipment 2,746,934 Motor Vehicles 1,414,112 Construction In Progress 1,238,736 Total $40,011,757 Investment In General Fixed Assets Fixed Assets Acquired Prior To September 30, 1964 $20,896,846 Fixed Assets Provided By General Fund 3,846,186 Fixed Assets Contributed 1,378,085 Fixed Assets Provided By Capital Projects Funds 13,890,640 Total $40,011,757 -55- CITY OF WICHITA FALLS, TEXAS Exhibit I-2 General Fixed Assets Statement Of Additions And Deletions - By Department For The Year Ended September 30, 1972 Balances Balances Department 9-30-71 Additions Deletions 9-30-72 Mayor And Board Of Aldermen $ 4,097 $ 362 $ 4,459 General Administration 16,692 16,692 Legal And City Clerk 20,674 188 20,862 Personnel 6,672 658 7,330 Data Processing 19,242 6,681 $ 5,880 20,043 Library 730,366 730,366 Health 1,004,566 21,804 1,026,370 Finance 9,863 2,483 1,930 10,416 Tax 39,074 39,074 Municipal Court 13,890 3,897 17,787 Public Safety 29,929 6,863 1,650 35,142 Police 840,222 66,835 32,872 874,185 Fire 1,149,786 3,155 1,152,941 Fire Marshal 14,550 3,173 4,471 13,252 Animal Control 23,856 2,552 1,455 24,953 Engineering 61,796 6,978 5,196 63,578 Inspection 15,823 542 16,365 Property Agent 7,342 2,000 5,342 Street Maintenance 26,284,785 161,885 80,325 26,366,345 Sanitation 934,637 126,319 23,063 1,037,893 Parks 2,256,817 37,935 4,782 2,289,970 Golf 145,238 4,319 2,514 147,043 Cemetery 31,038 709 31,747 Planning 6,729 897 7,626 Traffic Engineering 913,069 2,294 1,708 913,655 Street Lighting 10,000 10,000 Parking Meters 101,156 1,959 1,504 101,611 Information Center 5,030 5,030 Auditorium Services 42,372 772 43,144 Purchasing 3,778 51 3,829 Central Garage 157,632 5,704 1,090 162,246 Building Maintenance 1,344,110 5,843 1,349,953 WCID #1 3,315,211 3,315,211 WCID #2 19,235 19,235 SAFB - Terminal 57,612 57,612 -0- Men's Recreational Building 128,062 128,062 Totals $39,764,951 $474,858 $228,052 $40,011,757 -56- CITY OF WICHITA FALLS, TEXAS Exhibit I-3 General Fixed Assets Statement Of General Fixed Assets By Category September 30, 1972 Land, Streets Buildings And Land And Department Total Betterments Improvements Mayor And Board Of Aldermen $ 4,459 General Administration 16,692 Legal And City Clerk 20,862 Personnel 7,330 Data Processing 20,043 Library 730,366 $ 5,202 $ 302,410 Health 1,026,370 69,766 791,252 Finance 10,416 Tax 39,074 Municipal Court 17,787 Public Safety 35,142 Police 874,185 29,471 532,108 Fire 1,152,941 129,349 514,285 Fire Marshal 13,252 Animal Control 24,953 1,091 11,800 Engineering 63,578 188 864 Inspection 16,365 Property Agent 5,342 Street Maintenance 26,366,345 24,431,544 99,917 Sanitation 1,037,893 32,514 33,511 Parks 2,289,970 1,694,572 298,407 Golf 147,043 4,466 93,059 Cemetery 31,747 11,005 Planning 7,626 Traffic Engineering 913,655 14,429 Street Lighting 10,000 Parking Meters 101,611 36,807 Information Center 5,030 Auditorium Services 43,144 Purchasing 3,829 Central Garage 162,246 50,000 41,360 Building Maintenance 1,349,953 32,534 1,294,216 WCID #1 3,315,211 3,264,872 11,885 WCID #2 19,235 2,380 15,360 SAFB - Terminal -0- -0- Men's Recreational Building 128,062 128,062 Totals $40,011,757 $29,799,185 $4,179,501 -57- CITY OF WICHITA FALLS, TEXAS Exhibit I-3 General Fixed Assets Statement Of General Fixed Assets By Category September 30, 1972 Furniture Machinery Construction And And Motor In Fixtures Equipment Vehicles Progress $ 4,288 $ 171 5,501 3,679 $ 7,512 17,729 3,133 2,462 2,602 2,266 5,476 12,317 2,250 417,337 5,417 47,061 102,626 15,665 5,564 4,852 14,746 15,440 8,888 7,426 5,612 4,749 505 29,860 4,777 30,151 141,278 141,177 16,828 82,446 410,033 629 3,531 9,092 188 3,960 7,914 6,476 28,760 27,290 2,470 4,116 9,779 1,134 2,129 2,079 1,213 485,784 130,079 $1,217,808 2,132 493,877 475,859 9,223 211,070 55,770 20,928 1,924 40,757 6,837 1,332 15,887 3,523 4,702 2,737 187 6,850 851,231 41,145 10,000 792 52,601 11,411 1,865 992 2,173 4,378 38,766 1,633 2,196 2,735 39,625 28,526 8,539 10,759 3,905 38,454 269 1,226 $633,289 $2,746,934 $1,414,112 $1,238,736 -57- GENERAL BONDED DEBT CITY OF WICHITA FALLS, TEXAS Exhibit J-1 General Long - Term Debt Balance Sheet September 30, 1972 Debits Amounts Available For Retirement Of Serial Bonds (Exhibit J-2) $ 130,051 Amounts To Be Provided For Retirement Of Serial Bonds 28,622,099 Total $28,752,150 Credits Interest Payable - General Obligation Bonds (Exhibit L-9) $ 6,777,150 General Obligation Bonds Payable - Serial Bonds (Exhibit L-9) 21,975,000 Total $28,752,150 1 -58- CITY OF WICHITA FALLS, TEXAS Exhibit J-2 General Long - Term Debt Schedule Of Amounts Available In Debt Service Fund For Retirement Of Bonds And Interest September 30, 1972 Cash - Demand Deposits $ 12,349 Cash - Certificates Of Deposit 105,000 Due From Other Funds 12,702 Total $130,051 -59- TRANSIT SYSTEM FUND CITY OF WICHITA FALLS, TEXAS Exhibit K-1 Transit System Fund Balance Sheet September 30, 1972 Assets Current Assets: Cash (Exhibit K-4) $ 8,596 Inventory - bus parts and supplies 8,537 $17,133 Plant And Equipment (Exhibit K-3) : Furniture and fixtures 135 Machinery and equipment 9,434 Buses and motor vehicles 25,612 Total plant and equipment 35,181 Less accumulated depreciation (14,654) 20,527 Total $37,660 Liabilities And Retained Earning Current Liabilities: Accounts payable $ 380 Due to other funds 16,044 $16,424 Retained Earnings (Exhibit K-2) 21,236 Total $37,660 -60- CITY OF WICHITA FALLS, TEXAS Exhibit K-2 Transit System Fund Statement Of Operations And Retained Earnings For The Year Ended September 30, 1972 Operating Revenues $137,092 Operating Expenses: Salaries and wages $96,993 Social security 5,141 Employee retirement plan 1,480 Employee insurance 1,947 Gas, oil and supplies 15,190 Maintenance 6,623 Utilities and telephone 2,546 Rent 3,600 Insurance 9,256 Other 1,420 144,196 (7,104) Gain On Sale Of Fixed Assets 3,109 Depreciation Expense (Exhibit K-3) (8,571) Net Loss For The Year (12,566) Retained Earnings, September 30, 1971 33,802 Retained Earnings, September 30, 1972 $ 21,236 -61- CITY OF WICHITA FALLS, TEXAS Exhibit K-3 Transit System Fund Statement Of Plant, Equipment And Depreciation For The Year Ended September 30, 1972 Plant And Equipment Balances Transfers Balances 9/30/71 Additions Deletions In (Out) 9/30/72 Furniture And Fixtures $ 135 $ $ 135 Machinery And Equipment 9,165 $ 269 9,434 Buses And Motor Vehicles 23,550 $ 2,062 (A) 25,612 • Total $32,850 $ 269 $ (B) $ 2,062 $35,181 (A) Transfer of motor vehicle from Water and Sewer Fund and its accumulated depreciation, transferred at book cost. (B) On Exhibit K-2, the $3,109 gain on sale of fixed assets represents proceeds from the sale of 10 (ten) old buses. These 10 buses were assigned zero value when the City acquired the transit system in April of 1971. -62- CITY OF WICHITA FALLS, TEXAS Exhibit K-3 Transit System Fund Statement Of Plant, Equipment And Depreciation For The Year Ended September 30, 1972 Accumulated Depreciation Net Balances Transfers Balances Plant And 9/30/71 Additions Deletions In (Out) 9/30/72 Equipment $ 17 $ 34 $ $ 51 $ 84 1,149 2,206 3,355 6,079 3,062 6,331 $ 1,855 (A) 11,248 14,364 $ 4,228 $ 8,571 $ (B) $ 1,855 $14,654 $20,527 (A) Transfer of motor vehicle from Water and Sewer Fund and its accumulated depreciation, transferred at book cost. (B) On Exhibit K-2, the $3,109 gain on sale of fixed assets represents proceeds from the sale of 10 (ten) old buses. These 10 buses were assigned zero value when the City acquired the transit system in April of 1971. -62- CITY OF WICHITA FALLS, TEXAS Exhibit K-4 Transit System Fund Statement Of Cash Receipts And Disbursements For The Year Ended September 30, 1972 Balances, September 30, 1971: Petty cash $ 2,895 Demand deposits 55,494 58,389 Receipts: Operating revenues $137,092 Sale of fixed assets 3,109 140,201 198,590 Disbursements: Inventory increase 1,637 Accounts payable 2,515 Due to other funds 63,010 Expenditures 122,563 Fixed asset additions 269 189,994 Balances, September 30, 1972: Petty cash 2,895 Demand deposits 5,701 $ 8,596 -63- STATISTICAL SECTION CITY OF WICHITA FALLS, TEXAS Exhibit L-1 Tax Revenues By Source Last Ten Fiscal Years Business Gross Fiscal Total Ad Valorem Sales Receipts Occupation Year Taxes Taxes Taxes Taxes Taxes 1962-63 $3,710,154 $3,437,655 $ -0- $264,772 $7,727 1963-64 3,760,956 3,480,012 -0- 273,009 7,935 1964-65 4,230,263 3,871,990 -0- 350,130 8,143 1965-66 4,522,141 4,142,392 -0- 372,964 6,785 1966-67 4,859,914 4,442,557 -0- 410,148 7,209 1967-68 5,802,415 4,479,498 884,386 432,128 6,403 1968-69 6,043,770 4,299,255 1,287,078 450,778 6,659 1969-70 6,590,542 4,743,846 1,350,000 489,841 6,855 1970-71 7,049,349 4,918,738 1,600,000 523,124 7,486 1971-72 7,274,629 5,002,195 1,720,000 545,599 6,835 -64- CITY OF WICHITA FALLS, TEXAS Exhibit L-2 Property Tax Levies And Collections Last Ten Fiscal Years Total Current Per Cent Fiscal Tax Tax Of Levy Year Levy Collections Collected 1962-63 $3,441,539 $3,193,738 92.80% 1963-64 3,502,187 3,261,334 93.12% 1964-65 3,910,580 3,647,116 93.26% 1965-66 4,166,789 3,900,357 93.61% 1966-67 4,465,061 4,187,744 93.80% 1967-68 4,514,277 4,228,690 93.67% 1968-69 4,299,255 4,125,058 95.95% 1969-70 4,746,379 4,568,765 96.26% 1970-71 4,875,445 4,690,158 96.20% 1971-72 4,999,048 4,808,066 96.18% -65- CITY OF WICHITA FALLS, TEXAS Exhibit L-2 Property Tax Levies And Collections Last Ten Fiscal Years Delinquent Total Total Collections Tax Tax As Percent Of Collections Collections Current Levy $ 96,510 $3,290,248 95.60% 142,911 3,404,245 97.20% 133,775 3,780,891 96.68% 142,607 4,042,964 97.03% 159,972 4,347,716 97.37% 122,631 4,351,321 96.39% 166,671 4,291,729 99.82% 144,875 4,713,640 99.31% 146,079 4,836,237 99.20% 132,984 4,941,050 98.84% -65- CITY OF WICHITA FALLS, TEXAS Exhibit L-3 Assessed And Estimated Actual Value Of Taxable Property Last Ten Fiscal Years Real Property Personal Property Fiscal Assessed Estimated Assessed Estimated Year Value Actual Value Value Actual Value 1962-63 $176,310,210 $352,620,420 $57,808,060 $115,616,120 1963-64 180,208,610 360,417,220 58,035,400 116,070,800 1964-65 185,812,260 371,624,520 58,598,980 117,197,960 1965-66 188,449,360 376,898,720 56,655,900 113,311,800 1966-67 189,412,500 378,825,000 57,275,310 114,550,620 1967-68 190,662,810 381,325,620 58,745,285 117,490,570 1968-69 192,499,218 384,998,436 49,515,325 99,030,650 1969-70 195,862,998 391,725,996 51,344,180 102,688,360 1970-71 201,585,330 403,170,660 52,815,610 105,631,220 1971-72 208,918,720 417,837,440 54,429,630 108,859,260 -66- CITY OF WICHITA FALLS, TEXAS Exhibit L-3 Assessed And Estimated Actual Value Of Taxable Property Last Ten Fiscal Years Total Ratio Of Total Assessed Estimated Assessed To Total Value Actual Value Estimated Actual Value $234,118,270 $468,236,540 50.00% 238,244,010 476,488,020 50.00% 244,411,240 488,822,480 50.00% 245,105,260 490,210,520 50.00% 246,687,810 493,375,620 50.00% 249,408,095 498,816,190 50.00% 242,014,543 484,029,086 50.00% 247,207,178 494,414,356 50.00% 254,400,940 508,801,880 50.00% 263,348,350 526,696,700 50.00% -66- CITY OF WICHITA FALLS, TEXAS Exhibit L-4 Tax Rates And Tax Levies 1962-1972 Tax Rates Per $100 Valuation Fiscal WFISD CVISD Period City School (1) School (2) 1962-63 $1.47 $1.40 $2.00 1963-64 1.47 1.50 2.00 1964-65 1.60 1.50 2.00 1965-66 1.70 1.61 2.00 1966-67 1.81 1.61 2.00 1967-68 1.81 1.61 2.00 1968-69 1.78 1.78 2.20 1969-70 1.92 1.86 2.30 1970-71 1.92 1.86 2.30 1971-72 1.90 1.86 1.35 Tax Levies 1962-63 $3,441,539 $3,304,084 $ 61,782 1963-64 3,502,187 3,597,045 61,782 1964-65 3,910,580 3,692,020 71,457 1965-66 4,166,789 3,969,478 70,900 1966-67 4,465,061 3,994,395 73,128 1967-68 4,514,277 4,038,370 79,324 1968-69 4,299,255 4,337,454 88,026 1969-70 4,743,846 4,625,896 96,415 1970-71 4,875,445 4,891,188 95,862 1971-72 4,922,000 5,071,376 135,000 (1) WFISD - Wichita Falls Independent School District - 91.79% in Wichita Falls city limits (2) CVISD - City View Independent School District - 66.34% in Wichita Falls city limits -67- CITY OF WICHITA FALLS, TEXAS Exhibit L-4 Tax Rates And Tax Levies 1962-1972 Tax Rates Per $100 Valuation Midwestern County State University Total $1.05 $.42 $.26 $6.60 1.05 .42 - 6.44 1.05 .42 - 6.57 1.05 .42 - 6.78 1.05 .47 - 6.94 1.05 .47 - 6.94 1.05 .42 - 7.23 1.05 .37 - 7.50 1.05 .32 - 7.45 1.05 .27 - 6.43 Tax Levies $1,550,309 $452,483 $560,840 $ 9,371,037 1,622,663 476,786 - 9,260,463 1,670,192 496,516 - 9,840,765 1,713,214 509,663 - 10,430,044 II 1,753,123 595,554 _ 10,881,261 1,789,336 612,145 11,033,452 1,824,287 816,582 - 11,365,604 1,926,248 530,738 - 11,923,143 1,997,622 480,890 - 12,341,007 2,081,551 429,072 - 12,638,999 -67- CITY OF WICHITA FALLS, TEXAS Exhibit L-5 Ratio Of Net General Bonded Debt To Assessed Value And Net Bonded Debt Per Capita Last Ten Fiscal Years Gross Fiscal Assessed Bonded Year Population Value Debt** 1962-63 107,918 $234,118,270 $11,586,000 1963-64 108,525 238,224,010 14,140,000 1964-65 109,225 244,411,240 19,307,000 1965-66 109,500 245,105,260 18,181,000 1966-67 115,300 246,687,810 17,037,000 1967-68 115,340 249,408,095 18,867,000 1968-69 115,500 242,014,543 22,121,000 1969-70 94,976 247,207,178 22,943,000 1970-71 97,300 254,400,940 23,545,000 1971-72 98,500 263,348,350 21,975,000 ** Includes Water and Sewer Tax Obligation Bonds -68- CITY OF WICHITA FALLS, TEXAS Exhibit L-5 Ratio Of Net General Bonded Debt To Assessed Value And Net Bonded Debt Per Capita Last Ten Fiscal Years Ratio Net Less Net Bonded Debt Net Debt Service Bonded To Assessed Bonded Debt Funds Debt Value Per Capita $1,146,260 $10,439,740 4.45% $ 96.74 790,059 13,349,941 5.60% 123.01 637,329 18,669,671 7.63% 170.93 522,940 17,658,060 7.20% 161.26 551,679 16,485,321 6.68% 142.98 423,755 18,443,245 7.39% 159.90 503,725 21,617,275 8.93% 187.16 498,561 22,444,439 9.07% 236.32 457,356 23,087,644 9.08% 237.28 409,201 21,565,799 8.19% 218.94 -68- CITY OF WICHITA FALLS, TEXAS Exhibit L-6 Statement Of Direct And Overlapping Debt September 30, 1972 City of Wichita Falls: General Obligation Debt $21,975,000 Less: Self Supporting Debt (A) $ 5,915,000 Amount Available for Debt Service 130,051 6,045,051 Net Debt $15,929,949 Percentage Of Net Debt Applicable Amount Debt To City Overlapping City of Wichita Falls $15,929,949 100.00% $15,929,949 Wichita Falls Independent School District 17,903,866 96.93% 17,354,217 Wichita County 2,605,757 76.01% 1,980,636 City View Independent School District 458,547 51.25% 235,005 Burkburnett Independent School District 722,934 .44% 3,181 Total Direct and Overlapping Debt $35,502,988 (A) General Obligation Bonds issued for Water and Sewer purposes. -69- CITY OF WICHITA FALLS, TEXAS Exhibit L-7 Schedule Of Revenue Bond Coverage Water & Sewer Revenue Bonds Last Ten Years Net Revenue Fiscal Gross Available For Year Revenues Expenses Debt Service 1962-63 $2,214,419 $ 992,815 $1,221,604 1963-64 2,107,720 1,009,751 1,097,969 1964-65 2,368,775 1,019,441 1,349,334 1965-66 2,637,466 1,021,965 1,615,501 1966-67 2,618,584 1,071,974 1,546,610 1967-68 2,536,938 1,182,898 1,354,040 1968-69 3,069,010 1,307,812 1,761,198 1969-70 3,153,610 1,388,778 1,764,832 1970-71 3,276,049 1,492,801 1,783,248 1971-72 3,295,249 1,524,358 1,770,891 -70- CITY OF WICHITA FALLS, TEXAS Exhibit L-7 Schedule Of Revenue Bond Coverage Water & Sewer Revenue Bonds Last Ten Years Average Annual Debt Service Requirements Times Principal Interest Total Covered $223,000 $ 91,209 $314,209 3.89 224,000 85,824 309,824 3.54 224,000 81,318 305,318 4.42 376,000 153,827 529,827 3.05 450,000 188,890 638,890 2.42 560,000 233,297 793,297 1.71 566,000 221,636 787,636 2.24 515,238 181,123 696,361 2.53 513,750 170,035 683,785 2.61 511,842 159,160 671,002 2.64 -70- CITY OF WICHITA FALLS, TEXAS Exhibit L-8 Schedule Of Revenue Bond Coverage Airport Revenue Bonds Last Nine Years Net Revenue Fiscal Gross Available For Year Revenues Expenses Debt Service *1963-64 $ 21,533 $ -0- $21,533 1964-65 96,350 37,580 58,770 1965-66 96,980 42,463 54,517 1966-67 94,990 46,181 48,809 1967-68 96,805 50,571 46,234 1968-69 111,148 60,407 50,741 1969-70 117,520 63,141 54,379 1970-71 116,116 67,598 48,518 1971-72 118,504 75,235 43,269 * Airport Revenue Fund established May 14, 1964 and bonds sold same year. -71- CITY OF WICHITA FALLS, TEXAS Exhibit L-8 Schedule Of Revenue Bond Coverage Airport Revenue Bonds Last Nine Years Average Annual Debt Service Requirements Times Principal Interest Total Covered $19,000 $ 8,495 $27,495 - 19,000 8,214 27,214 2.16 20,000 7,919 27,919 1.95 24,000 10,541 34,541 1.41 24,000 10,119 34,119 1.36 24,500 9,673 34,173 1.49 25,000 9,385 34,385 1.58 25,313 8,906 34,219 1.42 25,667 8,413 34,080 1.27 -71- CITY OF WICHITA FALLS, TEXAS Exhibit L-9 Schedule Of Bonded Debt And Interest Maturities September 30, 1972 General Obligation Bonds Water And Serial Interest Total Bonds Serial Fiscal Bond On And Bond Period Maturities Bonds Interest Maturities 1973 $ 1,622,000 $ 856,765 $ 2,478,765 $ 550,000 1974 1,632,000 789,920 2,421,920 550,000 1975 1,666,000 726,694 2,392,694 550,000 1976 1,491,000 663,791 2,154,791 550,000 1977 1,499,000 602,741 2,101,741 550,000 1978 1,500,000 543,038 2,043,038 575,000 1979 1,501,000 483,160 1,984,160 575,000 1980 1,306,000 423,175 1,729,175 575,000 1981 1,309,000 371,804 1,680,804 580,000 1982 1,311,000 319,767 1,630,767 580,000 1983 1,318,000 267,141 1,585,141 580,000 1984 1,320,000 214,855 1,534,855 580,000 1985 1,155,000 171,700 1,326,700 580,000 1986 857,000 133,425 990,425 580,000 1987 885,000 93,393 978,393 580,000 1988 670,000 63,841 733,841 580,000 1989 558,000 36,565 594,565 230,000 1990 250,000 12,312 262,312 230,000 1991 125,000 3,063 128,063 150,000 $21,975,000 $6,777,150 $28,752,150 $9,725,000 -72- CITY OF WICHITA FALLS, TEXAS Exhibit L-9 Schedule Of Bonded Debt And Interest Maturities September 30, 1972 Sewer Revenue Bonds Airport Revenue Bonds Interest Total Bonds Serial Interest Total Bonds On And Bond On And Bonds Interest Maturities Bonds Interest Total $ 353,656 $ 903,656 $ 25,000 $ 15,550 $ 40,550 $ 3,422,971 330,844 880,844 25,000 14,625 39,625 3,342,389 308,165 858,165 25,000 13,700 38,700 3,289,559 286,215 836,215 25,000 12,725 37,725 3,028,731 264,265 814,265 25,000 11,750 36,750 2,952,756 241,784 816,784 25,000 10,775 35,775 2,895,597 218,771 793,771 25,000 9,800 34,800 2,812,731 196,321 771,321 30,000 8,825 38,825 2,539,321 175,403 755,403 30,000 7,600 37,600 2,473,807 154,115 734,115 30,000 6,375 36,375 2,401,257 132,710 712,710 30,000 5,150 35,150 2,333,001 111,248 691,248 30,000 3,925 33,925 2,260,028 89,499 669,499 20,000 2,700 22,700 2,018,899 67,511 647,511 20,000 1,800 21,800 1,659,736 45,524 625,524 20,000 900 20,900 1,624,817 25,376 605,376 1,339,217 13,521 243,521 838,086 6,096 236,096 498,408 3,019 153,019 281,082 $3,024,043 $12,749,043 $385,000 $126,200 $511,200 $42,012,393 -72-