1976 Annual Financial Report . City of
Wichita Falls Texas
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ANNUAL FINANCIAL REPORT
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CITY OF WICHITA FALLS, TEXAS
MAYOR AND BOARD OF ALDERMEN
J. C. Boyd, Mayor
Hardy McAlister, W. E. Ryle
Mayor Pro Tem
Jerry F. Mathis Ray Ashbrook
Dr. Guillermo Garcia Bill Gowan
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CITY MANAGER
Gerald G. Fox
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CITY CLERK/DIRECTOR OF FINANCE
Gerald L. Carlson, CPA
INDEPENDENT AUDITORS
Jarrett, Cocke & Tillery
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ICITY OF WICHITA FALLS, TEXAS
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Financial Report For The Year Ended September 30, 1976
ITable Of Contents
Exhibit Page
It No. No.
II Letter Of Transmittal i
Accountants' Opinion vii
GENERAL FUND
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A-1 Balance Sheet 1
A-2 Statement Of Fund Balance 2
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A-3 Revenues - Estimated And Actual 3
iti A-4 Statement Of Authorizations (Budget),
Expenditures And Encumbrances 4
A-5 Statement Of Expenditures 5
A-6 Changes In Taxes Receivable F
A-7 Aged Schedule Of Ad Valorem Taxes Receivable 7
A-8 Statement Of Cash Receipts And Disbursements 8
PARTICIPATION PAVING FUND
IIB-1 Balance Sheet 9B-2 Statement Of Revenues And Expenditures
And Fund Balance 1n
/I" B-3 Statement Of Cash Receipts And Disbursements 11
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AIRPORT FUND
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C-1 Balance Sheet 12
It C-2 Statement Of Operations And Retained Earnings 13
C-3 Statement Of Changes In Financial Position 14
P. C-4 Statement Of Cash Receipts And Disbursements 15
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C-5 Schedule Of Plant, Equipment And Depreciation 15
C-6 Schedule Of Bonded Debt
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And Interest Maturities - Revenue Bonds 17
WATER AND SEWER FUND
IID-1 Balance Sheet 18
D-2 Statement Of Operations And Retained Earnings 19
D-3 Statement Of Changes In Financial Position 20
:: D-4 Statement Of Cash Receipts And Disbursements 21
D-5 Schedule Of Plant, Equipment And Depreciation 22
D-6 Schedule Of Bonded Debt
r' And Interest Maturities - Revenue Bonds 23
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CITY OF WICHITA FALLS, TEXAS
Financial Report For The Year Ended September 30, 1976
Table Of Contents (Continued)
Exhibit Page
No. No.
DEBT SERVICE FUND
E-1 Balance Sheet 24
E-2 Statement Of Reserve For Future Debt Payments 25
E-3 Statement Of Cash Receipts And Disbursements 26
E-4 Changes In Taxes Receivable 27
E-5 Aged Schedule Of Ad Valorem Taxes Receivable 2P
iiii CAPITAL PROJECTS FUND
F-1 Combined Balance Sheet 2Q
3 F-2 Combined Statement Of Authorizations, 30
Expenditures And Encumbrances
F-3 Combined Statement Of Cash Receipts And Disbursements 31
TRUST AND AGENCY FUNDS
G-1 Combined Balance Sheet 32
G-2 Combined Statement Of Revenues,
Expenditures And Fund Balances 34
G-3 Combined Statement Of Cash Receipts And Disbursements 36
GENERAL FIXED ASSETS
H-1 Balance Sheet 3R
H-2 Schedule Of Additions And Deletions - By Department 3Q
H-3 Schedule Of General Fixed Assets By Category 4.0
IIGENERAL LONG-TERM DEBT
I-1 Balance Sheet 41
II
I-2 Schedules Of Amounts Available In Debt Service Fund
For Retirement Of Bonds And Interest 42
I-3 Schedule Of Bonded Debt And Interest Maturities 43
IITRANSIT SYSTEM FUND
J-1 Balance Sheet 44
II
J-2 Statement Of Operations And Retained Earnings (Deficit) 4 5
J-3 Statement Of Changes In Financial Position 46
J-4 Statement Of Cash Receipts And Disbursements 47
IIJ-5 Schedule Of Plant, Equipment And Depreciation 46
K NOTES TO FINANCIAL STATEMENTS 49
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CITY OF WICHITA FALLS, TEXAS
Financial Report For The Year Ended September 30, 1976
Table Of Contents (Continued)
Exhibit Page
No. No.
STATISTICAL SECTION
L-1 Tax Revenues By Source - Last Ten Fiscal Years 53
L-2 Property Tax Levies And Collections -
Last Ten Fiscal Years 54
L-3 Assessed And Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years 55
L-4 Tax Rates And Tax Levies (1966-1976) 56
L-5 Ratio Of Net General Bonded Debt To Assessed
r.. Value And Net Bonded Debt Per Capita -
Last Ten Fiscal Years 57
L-6 Statement Of Direct Debt 5 R
L-7 Schedule Of Revenue Bond Coverage - Water And
Sewer Revenue Bonds - Last Ten Years 59
L-8 Schedule Of Revenue Bond Coverage - Airport Revenue
Bonds - Last Ten Years 60
L-9 Schedule Of Bonded Debt And Interest Maturities 61
L-10 Combined Schedule Of Bonds Payable 62
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LETTER OF TRANSMITTAL
AND ACCOUNTANTS' OPINION
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h. P.O.Box 1431
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fE \�p' ,>16-1916 Mayor and Board of Aldermen
City of Wichita Falls
Wichita Falls, Texas
Dear Sirs:
The Annual Financial Report of the City of Wichita Falls, Texas for the fiscal
year ended September 30, 1976 is submitted herewith.
Accounting System And Reports
The city's accounting records for general governmental operations are main-
tained on a modified 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 Accounting/Finance Department
to aid in the formulation of operating policies and to control budget expendi-
tures.
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 conforms with standards promul-
gated by the National Committee on Governmental Accounting. The 1974-75 Annual
Financial Report was submitted for a supplemental review of this conformity by
the Municipal Finance Officers Association. No reply has been received to date
on this review. The 1975-76 Annual Financial Report was prepared in that for-
mat.
General Governmental Operations
Revenues for general governmental operations totaled $11,077,573 in the 1975-
76 fiscal year, an increase of 10.5 per cent over the 1974-75 fiscal year.
General property taxes produced 32.8 per cent of general revenues compared to
32.8 per cent in 1974-75 and 31.9 per cent in 1973-74. The amount of revenue
from various sources and the increase or decrease compared to last year are
66 shown in the following tabulation:
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Increase
(Decrease)
Per Cent Over Prior
Revenue Source Amount Of Total Year
Property Taxes and
Penalties $ 3,633,104 32.E $ 333,233
Franchise and Other Taxes 3,943,622 35.6 497,763
Licenses and Permits 139,738 1.3 33,299
Fines and Forfeitures 359,446 3.2 (16,472)
Parking Meter Revenue 106,892 1.0 (6,858)
Rents and Concessions 93,552 .8 3,743
Service Charges and Fees 1,751,791 15.8 129,722
Miscellaneous 229,428 2.1 69,882
Enterprise Fund
Contribution 820,000 7.4 -0-
Total $ 11,077,573 100.0% $ 1,050,312
Assessed valuation was $473,074,699 based on 70% of market value. Current
tax collections were 97.40 per cent of the tax levy, down 0.03 per cent from
last year. The ratio of total collections (current and delinquent) to the
current tax levy was 99.47 per cent, a decrease of 0.31 per cent from last
year. Allocation of the property tax levy by purpose for the year ended Sep-
tember 30, 1976 and the preceding two fiscal years is as follows:
Purpose 1975-76 1974-75 1973-74
General Government $ 3,582,939 $ 3,257,422 $ 2,897,201
Debt Service Fund 2,131,021 2,388,807 2,375,010
Total $ 5,713,960 $ 5,646,229 $ 5,272,211
Expenditures for general government purpose totaled $11,577,991 an increase
of 17 per cent over the 1974-75 fiscal year. Increase in levels of expendi-
tures for major functions of the city over the preceding year are shown in
the following tabulation:
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Increase
(Decrease)
Per Cent Over Prior
Function Amount Of Total Period
r General & Administrative $ 1,879,995 16.2 $ 461,484
iii Health 539,814 4.7 78,011
Accounting 172,794 1.5 172,794
Finance 423,222 3.7 (52,454)
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1 Public Safety 3,883,053 33.5 479,273
Public Works 2,379,820 20.6 (5,984)
Parks & Recreation 987,580 8.5 204,209
I Planning & Traffic 988,830 8.5 283,368
General Services 322,883 2.8 64,240
Total $ 11,577,991 100.0% $ 1,684,941
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Participation Paving Fund
The Participation Paving Fund is a revolving fund established for the pur-
pose of paving streets , alleyways, and sidewalks that have been petitioned
for paving. The petitioners and the city jointly participate in the cost
of the projects with the city paying 100% of the cost initially and then
receiving partial reimbursement from the property owners. In 1975-76 ex-
penditures in the Participation Paving Fund totaled $697,951. Revenues,
including cash receipts and receivables totaled $762,362. Accounts receiv-
able from property owners at September 30, 1976 totaled $511,082.
PR 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 muni-
ii cipal management, citizens and investors. This data for the City of Wichita
Falls at the end of the 1975-76 fiscal year was as follows:
Ratio of Debt Ratio of Debt
To Assessed To Present Debt Per
Value Market Value Capita
Net Direct
Bonded Debt $ 12,121,493 2.56% 1.79% $ 116.89
Outstanding general obligation bonds at September 30, 1976 totaled $15,564,000
of which $4,254,000 was issued for water and sewer purposes and is considered
to be self-supporting. The remainder is considered to be direct tax supported
debt.
FP During the past year $1,491,000 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
id General Obligation Bonds A AA
Water and Sewer Revenue Bonds A A
Cash which was temporarily idle during the year, including both debt retire-
ment funds and bond proceeds, was invested in certificates of deposit with
the city depository in terms 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 $52,025.
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Capital Projects Funds
The proceeds of general obligation bond issues are accounted for in Capital
Projects Fund until improvement projects are completed. At the end of the
fiscal year, completed projects are transferred to General Fixed Assets.
During the 1975-76 fiscal period, expenditures from the Capital Projects
Fund amounted to $815,422. All authorized bonds had been issued at September
30, 1976.
Capital Project Fund balances on hand at September 30, 1976, consisted of
$69,856 in cash and $177,261 in receivables. The Street and Storm Drainage
1968 Bond Fund is the only significant uncompleted project in the Capital
r- Projects Fund.
General Fixed Assets
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The general fixed assets of the city are those fixed assets used in the per-
formance of general governmental functions and exclude the fixed assets of
utility and other enterprise funds. As of September 30, 1976, the general
fixed assets of the city amounted to $43,644,402.
The assets acquired since the fiscal year ended September 30, 1963, were re-
corded 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.
Trust and Agency Funds
Trust and Agency Funds are set up for the purpose of accounting for money and
property received from non-enterprise fund sources and held by a governmental
unit in the capacity of trustee, custodian, or agent for individuals, govern-
mental entities and non-public organizations. Included in the Trust and Agency
Fund are federal and state grants, general revenue sharing, social security
and payroll funds, and tax refund and tax collection funds.
In 1975-76 revenues of the federal and state grants, including general
revenue sharing totaled $5,652,023. During the same period expenditures of
the federal and state grants, including general revenue sharing, totaled
$3,492,359. Interest income on temporarily idle funds, other than federal
or state grants, but including general revenue sharing totaled $193,508
There was a 22.6 per cent increase in revenues over the prior year and 1.02
per cent decrease in expenditures over the prior year.
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 is presented in the
following tabulation:
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1975-76 1974-75 1973-74
Gross Income $ 4,370,509 $ 3,843,391 $ 3,919,673
Net Income 476,213 514,643 1,025,508
Income Available for Debt
Service 1,727,431 1,621,210 2,084,460
Annual Debt Service 1,025,265 1,052,715 726,428
Coverage
(Income available for debt
service divided by annual
debt service) 1.88% 1.73% 2.87%
On June 5, 1973 the city issued $2,000,000 of Water and Sewer Revenue Bonds
which were authorized by a referendum election on April 3, 1973. Proceeds
from the issuance of the bonds are being used for improvements and additions
to existing waste water treatment facilities, and extensions and other im-
provements to the sewage collection system. The City's cost of the project at
September 30, 1976 was $1,161,247.
Airport Revenue Fund
The operation of the Airport for the fiscal year ended September 30, 1976 re-
suited in a net income of $30,574 an increase of $14,733 over the preceding
year. Operating revenues increased by 22.61 per cent while operating ex-
penditures increased by 18.5 per cent over the preceding year.
Additions were made to the plant and equipment totaling $6,276.
Transit System Fund
The operation of the Transit System for the fiscal year ended September 30,
1976 resulted in a net loss of $159,796 an increase in net loss of $59,369
from the previous year. Operating revenues increased 8.6 per cent and operating
expenses increased by 36.9 per cent from the preceding year.
Additions to plant and equipment totaled $1,034, primarily for motor vehicles.
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.
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Acknowledgements
I would like to thank the Mayor and Board of Aldermen for their interest and
support in the accounting operations of the city during the past year.
Sincerely yours,
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Gerald L. Carlson, CPA
City Clerk/Director of Finance
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JARRATT, COCKE & TILLERY
ACCOUNTANTS AND AUDITORS TELEPHONE 322-3103
1130 FIRST WICHITA NATIONAL BANK BUILDING
WICHITA FALLS,TEXAS
76301
January 31, 1977
The Honorable Mayor and Board of Aldermen
of the City of Wichita Falls, Texas
We have examined the financial statements of the various funds and account groups
of the City of Wichita Falls, Texas for the year ended September 30, 1976, listed
in the foregoing table of contents. Except as disclosed in the following para-
graph, our examination was made in accordance with generally accepted auditing
standards, and accordingly included such tests of the accounting records and such
other auditing procedures as we considered necessary in the circumstances.
The records of the general fixed assets account group and the fixed assets re-
cords of the water and sewer fund are incomplete as to historical carrying values,
identifiable fixed asset units and, also, retirements are, generally, not recog-
nized due to such incomplete records. Because we were unable to satisfy ourselves
by appropriate audit tests or by other means as a result of such incomplete re-
cords, and because of the materiality of the fixed assets account balances in the
water and sewer fund and the general fixed assets account group only reflects
fixed assets, we do not express an opinion on the balance sheet of the water and
sewer fund and the financial statements of the general fixed assets account group.
In our opinion, the accompanying financial statements listed in the foregoing
table of contents, other than the financial statements of the general fixed assets
account group and the balance sheet of the water and sewer fund, and except for
any adjustments which might be required in depreciation expense in the water and
sewer fund if fixed assets would require any adjustments, present fairly the
financial position of the various funds and account groups of the City of Wichita
Falls, Texas at September 30, 1976, and the results of operations of such funds
and the changes in financial position, where applicable, for the year then ended,
in conformity with generally accepted accounting principles applied on a basis
consistent with that of the preceding year.
The accompanying supplemental information is not necessary for a fair presentation
of the financial statements, but is presented as additional analytical data. This
information, except for the supplemental information presented in the general
fixed assets account group, the schedule of property, equipment and depreciation
in the water and sewer fund and all of Exhibit L (statistical section), has been
subjected to the tests and other auditing procedures applied in the examination
of the financial statements listed in the foregoing table of contents and, in our
opinion, is fairly stated in all material respects in relation to the financial
statements taken as a whole.
Jarratt, Cocke & Tillery
BY: t
ry. . illery
ertified Public Accountant
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GENERAL FUND
AMOWNOW
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CITY OF WICHITA FALLS, TEXAS Exhibit A-1
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General Fund
Balance Sheet
IISeptember 30, 1976 And 1975
September 30
1976 I 1975
Assets
Aw Cash (Exhibit A-8) $ 1,037,298 $ 352,463
Certificates Of Deposit (Exhibit A-8) 500,000
1,037,298 852,463
1 Accounts Receivable:
Ad valorem taxes receivable - delinquent
1 (less $274,294 and $238,102 allowance
for uncollectable accounts) (Exhibits
A-6 and A-7) 380,705 390,892
, Due from other funds 670,188 444,382
Due from other governmental units 744,916 615,447
Other (less $78,000 and $66,000 allowance
for doubtful accounts) 19,547 25,901
I1,815,356 1,476,622
Materials And Supplies Inventory (Cost) 87,294 71,332
IPrepaid Expenses - Insurance, Etc. 22,778 10,227
2,962,726 2,410,644
11 Restricted Assets (Exhibit A-8):
Cash 4,641 16,252
$ 2,967,367 $ 2,426,896
Liabilities, Reserves And Fund Balance
ILiabilities:
Accounts payable $ 221,013 $ 192,470
II Due to other funds 22,356 10,259
Due to other governmental units 7,477 7,664
Accrued payroll 312,524 249,096
563,370 459,489
ii Reserves:
For encumbrances (Exhibit A-4) 189,774 22,114
For capital improvements 67,151 67,151
Rebates, etc. 11,473 5,657
268,398 94,922
" Fund Balance (Exhibit A-2) 2,135,599 1,872,485
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$ 2,967,367 $ 2,426,896
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See Notes to Financial Statements - Exhibit K.
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CITY OF WICHITA FALLS, TEXAS Exhibit A-2
ix General Fund
Statement Of Fund Balance
For The Years Ended September 30, 1976 And 1975
September 30
1976 i975
Balance, Beginning $ 1,872,485 $ 1,672,274
Additions:
iiRevenues (Exhibit A-3):
City operations and activities 11,077,573 10,027,261
Federal and state grants (Note 3):
II Federal shared revenue 154,904 463,359
Categorical grants 776,288 1,106,125
12,008,765 11,596,745
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Reserves for encumbrances, beginning
(Exhibit A-4) 22,114 88,114
12,030,879 11,684,859
13,903,364 13,357,133
Deductions:
4.4 Expenditures (Note 3)
10 (Exhibits A-4 and A-5) 11,577,991 11,462,534
Reserves for encumbrances, ending
(Exhibit A-4) 189,774 22,114
11,767,765 11,484,648
Balance, Ending $ 2,135,599 '$ 1,872,485
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See Notes to Financial Statements - Exhibit K.
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ii CITY OF WICHITA FALLS, TEXAS Exhibit A-3
General Fund
Revenues-Estimated And Actual
For The Years Ended September 30, 1976 , nd 1975
IP
September 30,
1976 '1975
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Over
Estimated Actual (Under) Actual
City Operations And Activities:
if Taxes:
Gr Ad valorem taxes:
Current (net of allowance
PR for possible losses -
it $36,191 and $32,574,
respectively) $ 3,541,000 $ 3,582,939 $ 41,939 $ 3,236,167
Interest and penalties 53,000 50,165 (2,835) 57,704
II Sales taxes 2,750,000 2,983,763 233,763 2,681,906
Other 164,000 165,506 1,506 58,404
Street rental charges 758,000 794,353 36,353 705,549
Sanitation services 1,282,000 1,337,210 55,210 1,277,632
Fines and forfeitures:
Municipal court 351,500 350,047 (1,453) 367,624
8,400 9,399 999 8,294
Parking meter revenue 115,100 106,892 (8,208) 113,750
Licenses, permits,
reports, etc. 109,100 139,738 30,638 106,439
Service charges and fees:
Tax collection fees 164,000 176,802 12,802 159,057
Golf and recreation fees 122,300 126,942 4,642 99,601
11 Other 96,150 110,837 14,687 85,779
Revenue from use of money
and property:
Rentals and concessions 78,950 93,552 14,602 89,809
Interest 30,000 101,013 71,013 36,391
School nurse program 60,000 60,000 60,000
Contribution from Water and
II Sewer Revenue Fund (Note 7) 820,000 820,000 820,000
Other revenues:
Sale of fixed assets 30,000 39,515 9,515 15,202
Miscellaneous 32,000 28,900 (3,100) 47,953
10,565,500 11,077,573 512,073 10,027,261
Federal And State Grants (Note 3):
Federal shared revenue 154,904 154,904 463,359
Categorical grants 793,127 776,288 (16,839) 1,106,125
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$11,513,531 $12,008,765 $ 495,234 $11,596,745
See Notes to Financial Statements - Exhibit K.
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CITY OF WICHITA FALLS, TEXAS Exhibit A-4
General Fund
Statement Of Authorizations (Budget), Expenditures And Encumbrances
For The Years Ended September 30, 1976 And 1975
Authorizations i
Appropriations Reserve For
After Encumbrances
Department Revisions Beginning Total I
Mayor And Board Of Aldermen $ 16,609 $ 16,609
City Manager 149,121 149,121
Legal 100,288 100,288 I
Personnel 61,538 61,538
City Clerk 36,555 36,555
Accounting 148,253 148,253
Library 177,691 177,691
Computer Facilities 393,987 $ 2,690 396,677
Customer Services 218,647 577 219,224
Health 556,204 556,204 I
Special Items 852,716 852,716
Finance 65,526 65,526
Tax 224,809 224,809
Municipal Court 140,579 609 141,188
Police 2,131,505 2,131,505
Fire 1,607,078 10,289 1,617,367 Pr
Fire Prevention 75,389 1,061 76,450
Safety Defense 54,838 54,838
Animal Control 63,611 63,611
Engineering 260,178 260,178
Inspection 94,600 94,600
Street Maintenance 771,782 771,782
Sanitation 1,375,271 1,375,271 +I
Parks And Recreation 840,555 840,555 iii
Golf 111,149 368 111,517
Cemetery 75,608 49 75,657 ",
Planning 212,178 42 212,220
Traffic Engineering 393,310 4,399 397,709
Street Lighting 359,066 359,066
Parking Meters 52,395 317 52,712
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Building Maintenance 210,610 1,397 212,007
Auditorium Services 28,551 252 28,803
Central Duplicating 30,163 30,163
Purchasing 43,106 43,106
Central Garage 64 64
Information Center 25,490 25,490
11,958,956 22,114 11,981,070
Federal And State Grants (Note 3):
Federal shared revenue
Categorical grants
$11,958,956 $ 22,114 $11,981,070
See Notes to Financial Statements - Exhibit K.
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CITY OF WICHITA FALLS, TEXAS Exhibit A-4
General Fund
Statement Of Authorizations (Budget) , Expenditures And Encumbrances
For The Years Ended September 30, 1976 And 1975
Expenditures Reserve For (Over) Actual
Current Year Unexpended Encumbrances Under Expenditures
Exhibit A-5 Balance Ending Authorizations Prior Year
$ 14,930 $ 1,679 $ 1,679 $ 12,145
146,508 2,613 $ 2,361 252 113,934
84,585 15,703 15,703 74,903
58,544 2,994 414 2,580 60,363
32,898 3,657 163 3,494 29,023
139,896 8,357 289 8,068 105,517
175,374 2,317 2,317 132,243
381,761 14,916 2,118 12,798 340,927
210,126 9,098 2,921 6,177 77,906
539,814 16,390 8,012 8,378 461,803
808,167 44,549 12,900 31,649 601,223
63,472 2,054 57 1,997 47,873
219,693 5,116 5,116 203,413
140,057 1,131 729 402 118,873
2,124,176 7,329 3,463 3,866 1,853,802
1,576,590 40,777 14,033 26,744 1,388,142
75,743 707 707 59,488
43,522 11,316 11,316 55,375
63,022 589 589 46,973
259,920 258 143 115 229,643
94,584 16 16 84,627
758,902 12,880 12,519 361 718,622
1,266,414 108,857 108,710 147 1,328,756
II811,336 29,219 2,181 27,038 616,155
} 104,310 7,207 180 7,027 101,523
71,934 3,723 1,789 1,934 65,693
I 208,761 3,459 287 3,172 67,255
380,478 17,231 13,927 3,304 327,762
350,164 8,902 2,399 6,503 259,413
' 49,427 3,285 3,285 51,032
207,204 4,803 144 4,659 149,791
28,467 336 336 21,851
21,880 8,283 8,283 20,889
40,445 2,661 64 35 2,626
64 36,851
24,887 603 603 29,261
I I 11,577,991 403,079 189,774 213,305 9,893,050
463,359
1,106,125
$11,577,991 $ 403,079 $ 189,774 $ 213,305 $11,462,534
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CITY OF WICHITA FALLS, TEXAS Exhibit A,5
General Fund
Statement Of Expenditures
For The Years Ended September 30, 1976 And 1975
Salaries Employee Supplies
And Benefits And
Department Wages Costs (Note 6) Materials
Mayor And Board Of Aldermen $ 1,010 $ 1,290
City Manager 106,746 $ 12,100 3,543
Legal 65,916 6,293 1,609
Personnel 42,098 4,798 2,589 I
City Clerk 17,527 2,559 692
Accounting 72,096 8,611 4,066
Library 86,856 11,207 40,159
Computer Facilities 126,757 14,807 29,918
Customer Services 158,475 17,224 5,660
Health 391,790 46,247 49,950
Special Items 218,826 25,447 4,264
Finance 46,792 4,076 4,552
Tax 161,820 20,250 14,320
Municipal Court 104,841 12,072 10,712
Police 1,549,922 165,238 156,686
Fire 1,312,128 147,448 37,014
Fire Prevention 53,758 5,632 6,312
Safety Defense 29,092 2,956 1,543
Animal Control 38,636 4,336 7,074
Engineering 202,547 24,109 11,430
Inspection 66,638 8,516 4,696
Street Maintenance 382,329 51,106 71,242 a
Sanitation 721,856 94,951 133,745
Parks And Recreation 479,540 54,042 61,965 wo
Golf 51,697 '6,849 12,988 di
Cemetery 49,521 7,011 4,275
Planning 160,060 18,490 4,596
Traffic Engineering 210,587 24,092 54,117
Street Lighting
Parking Meters 36,207 5,051 2,239
Building Maintenance 85,186 10,962 6,577
Auditorium Services 20,377 2,449 1,315
Central Duplicating 15,334 2,243 257
Purchasing 29,096 3,649 1,666
Central Garage 294,603 35,819 31,712
iii
Information Center 19,972 1,856 557
Total current year $ 7,410,636 $ 862,496 $ 785,330
4
Total prior year $ 6,701,619 $ 785,888 $ 758,708
See Notes to Financial Statements - Exhibit K.
-5-
3
CITY OF WICHITA FALLS, TEXAS Exhibit A-5
:1
General Fund
Statement Of Expenditures
For The Years Ended September 30, 1976 And 1975
Utilities, Insurance Other
Rentals, And Fixed Charges And Total
Maintenance Services, Etc. Miscellaneous Assets Credits Expenditures
$ 11,468 $ 954 $ 208 $ 14,930
ii $ 1,007 16,543 279 6,290 146,508
173 8,590 24 1,980 84,585
437 5,457 2,596 569 58,544
135 11,985 32,898
310 53,367 88 1 ,358 139,896
9,140 16,047 7,765 4,200 175,374
48,178 54,088 14,580 173,433 $ (80,000) 381,761
sti 1,593 17,703 58 9,413 210,126
11,426 29,757 2,025 8,619 539,814
507 29,103 529,874 146 808,167
ii
420 6 ,083 206 1,343 63,472
895 17,602 457 4,349 219,693
ri 1,267 10,327 226 612 140,057
it 83,897 89,360 2,371 76,702 2,124,176
24,408 38,907 2,954 13,731 1,576,590
2,842 2,025 289 4,885 75,743
1,754 4,871 145 3,161 43,522
3,842 5,524 228 3,382 63,022
4,291 7,104 619 9,820 259,920
2,547 8,143 319 3,725 94,584
it 164,003 5,009 2,935 82,278 758,902
277,458 3,617 3,183 31,604 1,266,414
PR 63,074 38,307 4,049 110,359 811,336
it 12,336 11,896 398 8,146 104,310
6,162 1,300 223 3,442 71,934
457 23,433 139 1,586 208,761
20,736 46,153 866 23,927 380,478
6,240 300,932 42,992 350,164
3,320 85 175 2,350 49,427
PR 17,464 42,668 20,644 23,703 207,204
wt 812 2,747 74 693 28,467
884 546 2,616 21,880
56 5,544 434 40,445
tit 11,202 9,413 1,114 2,637 (386,500) -0-
269 2,152 81 24,887
$ 783,542 $ 937,856 $ 599,938 $ 664,693 $ (466,500) $11,577,991
iii
$ 955,947 $ 1,138,028 $ 253,540 $ 789,538 $ 79,266 $11,462,534
Wit
twi
r. -5.
to
l
ICITY OF WICHITA FALLS, TEXAS Exhibit A-6
r. General Fund
iii Changes In Taxes Receivable
For The Year Ended September 30, 1976
Delinquent Current
ii Taxes Taxes Total
Balances, Beginning $ 628,994 $ -0- $ 628,994
IIAdditions:
Taxes levied 3,619,130 3,619,130
ri Transfer from current 94,087 94,087
Adjustments, etc. 1,817 1,315 3,132
95,904 3,620,445 3,716,349
724,898 3,620,445 4,345,343
Deductions:
Collections 69,899 3,526,358 3,596,257
II
Transfer to delinquent 94,087 94,087
69,899 3,620,445 3,690,344
IIBalances, Ending $ 654,999 $ -0- $ 654,999
1111
ii
II
II
iii
See Notes to Financial Statement - Exhibit K.
-6-
CITY OF WICHITA FALLS, TEXAS Exhibit A-7
General Fund
Aged Schedule Of Ad Valorem Taxes Receivable
September 30, 1976
Fiscal Year Taxes
Outstanding Receivable
1963 and prior $ 110,472
1964 - 1965 28,897
1965 - 1966 33,921
1966 - 1967 49,415
mm 1967 - 1968 39,437
1968 - 1969 26,113
1969 - 1970 34,644
1970 - 1971 36,249
it 1971 - 1972 37,712
1972 - 1973 44,657
1973 - 1974 49,709
1974 - 1975 69,686
1975 - 1976 94,087
Gross Taxes Receivable 654,999
Less Allowance For Uncollectable
Taxes Receivable 274,294
it Net Taxes Receivable $ 380,705
rip
1r
See Notes to Financial Statements - Exhibit K.
-7-
I1
ti
II
CITY OF tJICNITA FALLS, TEXAS Exhibit A-8
General Fund
Statements Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
Balances, Beginning:
Unrestricted cash:
Cash in bank-demand deposits $ 351,297
Certificates of deposit 500,000
Petty cash 1,166
852,463
IIRestricted cash:
Cash in bank-demand deposits 16,252
868,715
Receipts:
General revenues 4,530,824
Current and delinquent ad valorem tax
collections 3,596,257
Sanitation service 1,310,998
Contribution from water and sewer fund 500,000
II Sales tax receivables 598,551
Inter-fund charges, receivables, etc. 539,592
Refunds, rebates, funds collected for
others, etc. 93,934
11,170,156
12,038,871
Disbursements:
Expenditures 9,631,244
' Materials and supplies - inventory 765,422
Accounts payable 192,470
Accrued payroll 249,096
Inter-fund charges, payables, etc. 113,000
111 Refunds, rebates, funds collected for
others, etc. 45,700
10,996,932
Balances, Ending:
Unrestricted cash:
' Cash in bank-demand deposits 1,036,102
Certificates of deposit -0-
Petty cash 1,196
1,037,298
Restricted cash :
Cash in bank-demand deposits 4,641
$ 1,041,939
See Notes to Financial Statements - Exhibit K.
Pm -8.
PARTICIPATION PAVING FUND
1
:: CITY OF WICHITA FALLS, TEXAS Exhibit B-1
IParticipation Paving Fund
Balance Sheet
September 30, 1976 And 1975
IISeptember 30,
1976 1975
IIAssets .
I
Cash (Exhibit B-3) $ 255,682 $ 38,636
Certificates Of Deposit (Exhibit B-3) 301,000
255,682 339,636
I
Accounts Receivable:
Paving assessment receivables 511,082 487,146
Less cash basis allowance (511,082) (487,146)
I
-0- -0-
Due from other funds 5,434 4,230
I Other
7,596 7,586
13,030 11,816
$ 268,712 $ 351,452
IILiabilities, Reserves And Fund Balance
RP
Liabilities:
ii Accounts payable trade $ 5,261 $ 2,954
Due to other funds 114,934 250,931
Advance payments, etc. 22,901 36,001
it 143,096 289,886
IP Reserve For Rebates, Etc. 2,000 2,361
ii
Fund Balance (Exhibit B-2) 123,616 59,205
$ 268,712 $ 351,452
PR
r
ii
See Notes to Financial Statements - Exhibit K.
..g
I
CITY OF WICHITA FALLS, TEXAS Exhibit B-2
M' Participation Paving Fund
Statement Of Revenues And Expenditures And Fund Balance
For The Years Ended September 30, 1976 And 1975
iSeptember 30,
1976 1975
Revenues:
Street paving assessments $ 187,564 $ 233,449
Alley paving assessments 88,370 39,306
' Sidewalk assessments 418
8,640265
Interest on paving receivables 7,977
Interest on certificates of
deposit, etc. 20,260 11,334
Federal shared revenue (Note 3) 299,354 217,504
Categorical grants (Note 3) 157,756 -0-
762,362 509,835
Expenditures For Street And
Alley Paving 697,951 549,727
Net Increase (Decrease) 64,411 (39,892)
Fund Balance, Beginning 59,205 99,097
Fund Balance, Ending $ 123,616 $ 59,205
I
See Notes to Financial Statements - Exhibit K.
rw -10
i
CITY OF WICHITA FALLS, TEXAS Exhibit B-3
Participation Paving Fund
Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
Balances, Beginning:
Cash in bank:
Demand deposits $ 38,636
Certificates of deposit 301,000
339,636
Receipts:
Collection of paving receivables 132,291
Advance payments ,etc. 130,173
Interest on paving receivables 8,640
Interest on certificates of deposit, etc. 20,260
Due from other funds 4,230
295,594
t635,230
Disbursements:
Paving expenditures 207,625
Accounts payable trade 2,954
Refunds, etc. 633
' Due to other funds 168,336
379,548
Balances, Ending:
Cash in bank:
Demand deposits 255,682
Certificates of deposit -0-
$ 255,682
60
PP
PP
Or
PP
PP
10 See Notes to Financial Statements - Exhibit K.
""� -11-
AIRPORT FUND
ICITY OF WICHITA FALLS, TEXAS Exhibit C-1
I Airport Fund
Balance Sheet
September 30, 1976 And 1975
September 30
1976 1975
Assets
ii
Current Assets:
II Cash (Exhibit C-4) $ 34,835 $ 58,875
Accounts receivable:
Trade 50,029 37,169
Other funds 2,601 2,601
II 52,6 30 39,770
Prepaid insurance -0- 378
II
Restricted Assets (Exhibit C-4):
Revenue bond debt service:
Demand deposits 15,077 194
II
Certificates of deposit -0- 18,000
Revenue bond reserve:
Demand deposits 41,955 3,547
Certificates of deposit -0- 39,000
Ow 57,032 60,741
ii
Net Plant And Equipment (Exhibit C-5) 592,947 608,502
$ 737,444 $ 768,266
Illw
o+ Liabilities, Contributions And Retained Earnings
II Current Liabilities:
Payable from current assets :
Due to other funds $ 1,019 $ 55,718
II Accounts payable trade 6,068 2,455
Accrued payroll 3,311 2,460
Payable from restricted assets:
1111 Accrued revenue bond interest 5,385 5,832
II Revenue bonds payable
(Exhibit C-6) 25,000 25,000
40,783 91,465
IR
i Revenue Bonds Payable (Exhibit C-6):
Series 1964 - interest 3-3/4% and
II 4%, maturing serially 185,000 205,000
Less current maturity (20,000) (20,000)
Series 1967 - interest 4-1/2%,
oo maturing serially 100,000 105,000
Less current maturity (5,000) (5,000)
iii 260,000 285,000
Contributions In Aid Of Construction
" " (Note 3) 167,317 153,031
as Retained Earnings (Exhibit C-2)
(Note 4) 269,344 238,770
II $ 737,444 $ 768,266
" See Notes to Financial Statements - Exhibit K. -12-
is
ICITY OF WICHITA FALLS, TEXAS Exhibit C-2
1 Airport Fund
Statement Of Operations And Retained Earnings
For The Years Ended September 30, 1976 And 1975
I September 30,
1976 1975
MP Operating Revenues $ 199,399 $ 162,629
ill
Operating Expenses (Note 3):
II Salaries and wages 85,968 67,109
Social security 4,976 3,870
Employees' retirement plan (Note 6) 3,332 2,776
Employees' insurance 2,107 1,419
II Supplies 5,382 5,140
Maintenance 7,798 12,452
Utilities and telephone 19,346 16,822
%� Landing fee charge (Note 8) 8,523 7,224
Other 3,177 1,814
140,609 118,626
11 Operating income before interest
income and other expenses 58,790 44,003
Interest Income 5,993 4,253
II64,783 48,256
Other Expenses:
I Interest on revenue bonds 12,378 13,353
Depreciation (Exhibit C-5) 21,831 19,062
34,209 32,415
IINet Income ( Note 4) 30,574 15,841
Retained Earnings, Beginning 238,770 223,213
Op Contributions To Other Funds -0- (284)
Retained Earnings, Ending (Note 4) $ 269,344 $ 238,770
I
Mm
iii
See Notes to Financial Statements - Exhibit K.
-13-
ICITY OF WICHITA FALLS, TEXAS Exhibit C-3
1 Airport Fund
Statement Of Changes In Financial Position
1 For The Years Ended September 30, 1976 And 1975
September 30,
I1976 1975
Source Of Funds:
Net income for the year $ 30,574 $ 15,841
I Add charges to income not requiring
outlays of working capital -
depreciation 21,831 19,062
p 52,405 34,903
Contributions in aid of
construction (Note 3) 14,286 26,655
66,691 61,558
IIApplication Of Funds:
Additions to plant and equipment 6,276 28,694
I
Reductions in revenue bonds payable 25,000 25,000
Contributions to other funds -0- 284
31,276 53,978
11 Net increase in working capital $ 35,415 $ 7,580
Changes In Components:
Increase (decrease) in current
assets:
ii Cash $ (24,040) $ 10,982
Accounts receivable trade 12,860 8,095
II Due from other funds -0- 2,601
Prepaid insurance (378) 300
Increase (decrease) in restricted
II assets:
Revenue bond debt service:
Demand deposits 14,883 (6,305)
1.0 Certificates of deposit (18,000) 6,000
iiii Revenue bond reserve:
Demand deposits 38,408 (364)
Certificates of deposit (39,000) -0-
II (Increase) decrease in current
liabilities:
Payable from current assets:
gm Due to other funds 54,699 (10,661)
iii Accounts payable trade (3,613) (1,055)
Accrued payroll (851) (2,460)
1 Payable from restricted assets -
accrued revenue bond interest 447 447
Net increase in working capital $ 35,415 $ 7,580
!!
See Notes to Financial Statements - Exhibit K.
r.„ -14-
1
ICITY OF WICHITA FALLS, TEXAS Exhibit C-4
I
Airport Fund
Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
(
Revenue Bonds
Combined Operating Debt
Total Fund Service Reserve
Balances, Beginning:
Cash in bank:
i Demand deposits $ 62,616 $ 58,875 $ 194 $ 3,547
Certificates of deposit 57,000 18,000 39,000
119,616 58,875 18,194 42,547
Receipts:
Operating revenues 149,370 149,370
Trade receivables 37,169 37,169
II
Inter-fund transfers 33,686 33,686
Interest income 5,993 2,126 1,022 2,845
226,218 188,665 34,708 2,846
345,834 247,540 52,902 45,392
Disbursements:
II
Operating expenses 115,547 115,547
Plant and equipment additions 6,276 6,276
Inter-fund transfers 33,686 30,249 3,437(A)
Trade accounts payable 2,455 2,455
Revenue bond principal
payments - serial bonds 25,000 25,000
Revenue bonds interest payments 12,825 12,825
I
Accrued payrolls 2,460 2,460
Due to other funds 55,718 55,718
253,967 212,705 37,825 3,437
rm
iiii Balances, Ending:
Cash in bank:
Demand deposits 91,867 34,835 15,077 41,955
II
Certificates of deposit -0-
$ 91,867 $ 34,835 $ 15,077 $ 41,955
(A) The bond reserve fund cash balance required by the revenue bond indentures is
$39,000.
::
See Notes to Financial Statements - Exhibit K.
11
-15-
CITY OF WICHITA FALLS, TEXAS Exhibit C-5
Airport Fund
Schedule Of Plant, Equipment And Depreciation
For The Year Ended September 30, 1976
Plant And Equipment
Beginning Transfers Ending
Balances Additions Deletions In (Out) Balances
Land Betterments, etc. $ 134,409 $ 840 $ 135,249
Buildings And
Improvements 577,206 2,295 579,501
Furniture And
Fixtures 19,136 19,136
Machinery And
Equipment 19,468 3,141 22,609
Motor Vehicles 4,003 4,003
$ 754,222 $ 6,276 $ -0- $ -0- $ 760,498
si
Ai
ii
AA
See Notes to Financial Statements - Exhibit K.
-16-
1
' CITY OF WICHITA .FALLS, TEXAS Exhibit C-5
Airport Fund
Statement Of Plant, Equipment And Depreciation
For The Year Ended September 30, 1976
�lllll�
Accumulated Depreciation
Net Plant
Beginning Transfers Ending And
Balances Additions Deletions In (Out) Balances Equipment
$ 3,663 $ 5,296 $ 8,959 $ 126,290
109,815 13,975 123,790 455,711
15,983 1,034 17,017 2,119
12,256 1,526 13,782 8,827
$ 145,000 $ 21,831 $ -0- $ -0- $ 167,551 $ 592,947
I
1
I
' -16-
CITY OF WICHITA FALLS, TEXAS Exhibit C-6
Airport Fund
Schedule Of Bonded Debt And Interest Maturities - Revenue Bonds
September 30, 1976
Fiscal Serial Interest Total Bonds
Year Bond On And
Ending, Maturities Bonds Interest
1977 $ 25,000 $ 11,750 $ 36,750
ii 1978 25,000 10,775 35,775
1979 25,000 9,800 34,800
1980 30,000 8,825 38,825
1981 30,000 7,600 37,600
1982 30,000 6,375 36,375
1983 30,000 5,150 35,150
1984 30,000 3,925 33,925
1985 20,000 2,700 22,700
1986 20,000 1,800 21,800
1987 20,000 900 20,900
$ 285,000 $ 69,600 $ 354,600
::
10
See Notes to Financial Statements - Exhibit K.
::
wil
iii -17-
1
WATER AND SEWER FUND
4
CITY OF WICHITA FALLS, TEXAS Exhibit D-1 1
Water And Sewer Fund
Balance Sheet
September 30, 1976 And 1975
September 30,
1976 1975
Assets
4
Current Assets: 4
Cash (Exhibit D-4) $ 665,837 $ 378,490
Ai
Customer receivables (less allowance for
uncollectable accounts; 1976 $9,713,
1975 $7,383) 355,777 261,360 wl
Other receivables 2,411 12,954
Due from other funds 13,062 9,485
Inventory - materials and supplies
(average cost) 222,628 230,496
Prepaid and deferred expenses 1,602 13,533
1,261,317 906,318
Restricted Assets:
Cash (Exhibit D-4) 2,329,895 295,073 1
Certificates of deposit (Exhibit D-4) 2,456,000
Due from other governmental units, etc. 660,710 605,429
2,990,605 3,356,502
Plant And Equipment - Net (Exhibit D-5)
(Notes 3 and 5) 39,494,382 34,288,863 +ter
a&hy
$ 43,746,304 $ 38,551,683
See Notes to Financial Statements - Exhibit K.
-18-
UP
iii
IICITY OF WICHITA FALLS, TEXAS Exhibit D-1
PR Water And Sewer Fund
a Balance Sheet
September 30, 1976 And 1975
I 1976 September 30,
1975
Liabilities, Contributions And Retained Earnings
err Current Liabilities - Payable from current
p. assets:
iiiii Accounts payable $ 75,341 $ 65,482
Accrued payroll 56,810 42,830
Accrued interest payable - U. S. Government 30,565
II Current maturities - payable to U. S.
Government (Note 5) 10,907
Due to other funds 536,751 235,115
I710,374 343,427
Current Liabilities - Payable from restricted
assets:
II Accounts payable 183,870 428,355
Accrued revenue bond interest 58,943 63,518
Current maturities - revenue bonds
II (Exhibit D-6) 650,000 650,000
Due to other funds 3,690
896,503 1,141,873
Payable to U. S. Government,
ILong-Term (Note 5) 1,252,780 -0-
Revenue Bonds Payable (Exhibit 0-6):
II Series 1963 2,700,000 2,925,000
Series 1966 2,225,000 2,375,000
Series 1966 A 1,125,000 1,200,000
II Series 1968 1,475,000 1,575,000
Series 1973 1,700,000 1,800,000
Total revenue bonds payable 9,225,000 9,875,000
Less current maturities (650,000) (650,000)
II 8,575,000 9,225,000
11,434,657 10,710,300
1 Customer Deposits 335,000 323,991
Refunding Contracts 4,394 36,179
contributions In Aid Of Construction
II (Notes 3 and 5) 9,457,051 4,622,224
Retained Earnings (Exhibit D-2) (Note 4) 22,515,202 22,858,989
$ 43,746,304 $ 38,551,683
I
II
11 -1a
' CITY OF WICiITA FALLS, TEXAS Exhibit D-2
IIR
ill Water And Sewer Fund
Statement Of Operations And Retained Earnings
For The Years Ended September 30, 1976 And 1975
iw' September 30,
1976 1975
ii Operating Revenues:
Water sales $ 3,032,103 $ 2,532,769
fp Sewer sales 1,244,151 1,236,649
iii Other 94,255 73,973
4,370,509 3,843,391
II Operating Expenses (Note 3):
Salaries and wages 1,288,140 1,073,967
Payroll taxes 72,860 61,454
II Employees' insurance 33,910 25,086
Employees' retirement (Note 6) 54,214 54,368
Supplies and materials 404,498 351,247
II Maintenance 332,126 275,396
Utilities 289,013 190,746
Data processing 83,456 82,772
Bad debts 17,396 42,715
II Insurance 14,611 15,589
Other 52,854 48,841
2,643,078 2,222,181
IIOperating profit before depreciation
and interest 1,727,431 1,621,210
II Depreciation Expense (Exhibit D-5) 1,054,151 904,329
Operating profit before interest 673,280 716,881
Interest:
II Income 204,188 195,902
Expense (401,255) (398,140)
I
Net Income (Note 4) 476,213 514,643
Retained Earnings, Beginning 22,858,989 23,164,346
1 Contributions To General Fund (Note 7) (820,000) (820,000)
Retained Earnings, Ending (Note 4) $ 22,515,202 $ 22,858,989
I
1 See Notes to Financial Statements - Exhibit K.
{ -19-
CITY OF WICHITA FALLS, TEXAS Exhibit 0-3
Water And Sewer Fund
Statement Of Changes In Financial Position
For The Years Ended September 30, 1976 And 1975
September 30
1976 1975
Source Of Funds:
Net income for the year $ 476,213 $ 514,643
Add charges to income not requiring outlays
of working capital - depreciation 1054,151 904,329
1,530,364 1,418,972
Contributions in aid of construction
(Notes 3 and 5) 4,803,042 1,806,935
Payable to U. S. Government (Note 5) 1,315,348
Customer deposits - net 11,009 4,151
Book value of fixed assets sold or retired 7,270 1,399
7,667,033 3,231,457
Application Of Funds:
Additions to plant and equipment 6,266,940 2,372,033
Payments becoming due on revenue bonds
payable 650,000 650,000
Payments made or becoming due to U. S.
Government 62,568
Contributions to general fund (Note 7) 820,000 820,000
7,799,508 3,842,033
Decrease in working capital $ (132,475) $ (610,576)
See Notes to Financial Statements - Exhibit K.
-20-
II
I
CITY OF WICHITA FALLS, TEXAS Exhibit D-3
Water And Sewer Fund I
Statement Of Changes In Financial Position
For The Years Ended September 30,, 1976 And 1975
1 September 30
1976 1975
I
Changes In Components:
Increase (decrease) in current assets:
Cash $ 287,347 $ (32,364)
Customer receivables 94,417 (91,081)
I
Other receivables (10,543) 6,372
Due from other funds 3,577 9,485
Inventory - materials and supplies (7,868) 16,501
Prepaid and deferred expenses (11,931) (9,470)
Restricted assets:
Cash 2,034,822 (386,163)
Certificates of deposit (2,456,000) 631,000
Due from other governmental units 55,281 (619,694)
(Increase) decrease in current liabilities:
ScAccounts payable, trade (9,859) (35,053)
�`' Accrued payroll (13,980) (13,739)
Accrued interest payable to
I
U. S. Government (30,565)
Current maturities - payable
to U. S. Government (10,907)
Due to other funds (301,636) (86,569)
Payable from restricted assets :
i Accounts payable, trade 244,485 (4,375)
Accrued revenue bond interest 4,575 4,574
IDue to other funds (3,690)
Decrease in working capital $ (132,475) $ (610,576)
I
I
1
O)n
CITY OF WICHITA FALLS, TEXAS Exhibit D-4
Water And Sewer Fund
Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
Restricted
Revenue Bonds
Series Series Series
1963 1968 1973
Balances, Beginning:
Cash in bank:
Demand deposits $ 42,889 $ 51,491 $ 83,016
Certificates of deposit 200,000 225,000 941,000
Petty cash
242,889 276,491 1,024,016 I
Receipts:
Operating revenues and receivables
Accounts collected for other funds 11
Interest income 16,957 20,452 60,957
Customer deposits
Inter-fund transfers
Contributions in aid of
construction 62,805 5,424
Receivables - other 12,851 1
Other 3,600
16,957 86,857 79,232
259,846 363,348 1,10 ,248
Disbursements:
Operating expenses
Accounts collected for other funds
Inter-fund transfers
Fixed asset additions -
unrestricted cash
Accounts payable and other
liabilities 1,880 318,864
Inventory purchases
Bond project costs 26,540 76,698 68,105
Bond principal payments
Bond interest payments
Contributions to general fund
26,540 78,578 386,969
Balances, Ending:
Cash in bank: II
II
Demand deposits 233,306 284,770 716,279
Certificates of deposit -0- -0- -0-
Petty cash Ili
$ 233,306 $ 284,770 $ 71 , 79
(A) The bond reserve fund cash balance required by the revenue bond indentures [I
is $845,100.
See Notes to Financial Statements - Exhibit K.
-21-
in*AtsfRk n36 Aaa,aaatj...a,a vLla aet,(013Priall.. .
CITY OF WICHITA FALLS, TEXAS Exhibit D-4
IWater And Sewer Fund
Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
I
Cash
Interest And Unrestricted
Sinking Reserve Total Cash
I
Fund Fund Restricted
II $ 335 $ 117,342 $ 295,073 $ 377,490
245,000 845,000 2,456,000 -0-
1,000
II245,335 962,342 2,751,073 378,490
1 4,231,798
14 1,327,936
24,590 62,942 185,898 18,289
I 922,679 922,679 64,063
68,229 11,832
' 12,851 10,182
3,600 9,485
947,269 62,942 1,193,257 5,673,585
11 1,192,604 1,025,284 3,944,330 6,052,075
I
2,335,756
97,083(A) 97,083 1�386,695
825,596
I170,350
320,744 159,973
I 7,868
171,343
650,000 650,000
375,265 375,265
500,000
1,025,265 97,083 1,614,435 5,386,238
167,339 928,201 2,329,895 664,837
-0- -0- -0- -0-
1,000
$ 167,339 $ 928,201(A) $ 2,329,895 $ 665,837
-21-
CITY OF WICHITA FALLS, TEXAS Exhibit D-5
Water And Sewer Fund r.
Schedule Of Plant, Equipment And Depreciation iiii
For The Year Ended September 30, 1976
Plant And Equipment �'
Beginning Transfers Ending
Balances Additions Deletions In (Out) Balances
Water:
Land and betterments $ 12,996,132 $ 5,794,483 $ 12,448 $ 18,803,063 iii
Buildings, plants and
facilities 19,262,077 19,297 29,043 19,310,417
Furniture and fixtures 11,705 $ 99 11,606 04
Machinery and
equipment 955,297 102,293 96,958 4,476 965,108 011
Motor vehicles 118,531 32,374 14,979 (250) 135,676 iiii
Construction in
progress 1,043 69,318 (45,717) 24,644
$ 33,344,785 $ 6,017,765 $ 112,036 $ -0- $ 39,250,514
Sewer:
Land and betterments $ 78,748 $ 78,748
Buildings, plants and
facilities 8,258,363 $ 350 $ 4,712,096 12,970,809
Furniture and fixtures 582 582
Machinery and
equipment 57,154 57,154
Motor vehicles 63,721 18,843 $ 6,883 75,681 II
Construction in
progress 4,587,798 229,982 (4,712,096) 105,684
$ 13,046,366 $ 249,175 $ 6,883 $ -0- $ 13,288,658 1
Combined Water And Sewer:
Land and betterments $ 13,074,880 $ 5,794,483 $ 12,448 $ 18,881,811 mii
Buildings, plants and
facilities 27,520,440 19,647 4,741,139 32,281,226 II
Furniture and fixtures 12,287 $ 99 12,188
Machinery and
equipment 1,012,451 102,293 96,958 4,476 1,022,262
Motor vehicles 182,252 51,217 21,862 (250) 211,357 II
Construction in
progress 4,588,841 299,300 (4,757,813) 130,328
$ 46,391,151 $ 6,266,940 $ 118,919 $ -0- $ 52,539,172 I:
I[
See Notes to Financial Statements - Exhibit K.
IF
22-
...._. M m.•,ant,,,,, emr4.+0..,,,,,, x+A4 r vR o a,4
I
IICITY OF WICHITA FALLS, TEXAS Exhibit D-5
P' Water And Sewer Fund
iii Schedule Of Plant, Equipment And Depreciation
For The Year Ended September 30, 1976
I
Beginning Accumulated Depreciation
Transfers Ending Net Plant
Balances Additions Deletions In (Out) Balances And Equipment
II $ 957,762 $ 159,267 $ 1,117,029 $ 17,686,034
7,276,142 455,110 7,731,252 11,579,165
10,661 317 $ 99 10,879 727
I672,321 67,090 90,164 $ 25 649,272 315,836
61,607 22,662 14,724 (25) 69,520 66,156
24,644
1 $ 8,978,493 $ 704,446 $ 104,987 $ -0- $ 9,577,952 $. 29,672,562
1 $ 7,744 $ 1,936 $ 9,680 $ 69,068
3,045,695 331,855 3,377,550 9,593,259
582 582
44,586 3,206 47,792 9,362
II 25,188 12,708 $ 6,662 31,234 44,447
105,684
II $ 3,123,795 $ 349,705 $ 6,662 $ -0- $ 3,466,838 $ 9,821,820
I $ 965,506 $ 161,203 $ 1,126,709 $ 17,755,102
I 10,321,837 11,243 786,965 11,108,802
11,461 21,172,424
317 $ 99 727
716,907 70,296 90,164 $ 25 697,064 325,198
I86,795 35,370 21,386 (25) _ 100,754 110,603
130,328
I $ 12,102,288 $ 1,054,151 $ 111,649 $ -0- $ 13,044,790 $ 39,494,382
I
I
1 -22-
II
IICITY OF WICHITA FALLS, TEXAS Exhibit D-6
11 Water And Sewer Fund
Schedule Of Bonded Debt And Interest Maturities - Revenue Bonds
September 30, 1976
II Serial Interest total
Fiscal Year Bond On Bonds And
Ending Maturities Bonds Interest
11 1977 $ 650,000 $ 347,815 $ 997,815
1978 675,000 319,834 994,834
1979 675,000 291,321 966,321
II 1980 675,000 264,121 939,121
1981 680,000 238,703 918,703
1982 680,000 212,815 892,815
1983 680,000 186,810 866,810
1984 680,000 160,648 840,648
1985 680,000 134,199 814,199
1986 680,000 107,461 787,461
li 1987 680,000 80,724 760,724
1988 680,000 55,676 735,676
1989 330,000 38,921 368,921
1990 330,000 26,496 356,496
1991 250,000 18,319 268,319
1992 100,000 10,200 110,200
1993 100,000 5,100 105,100
11 $ 9,225,000 $ 2,499,163 $ 11,724,163
I
Interest Rates:
P 1963 Series:
3-2/10% - 3-3/10% $ 2,475,000
1/10% 225,000 $ 2,700,000
I 1966 Series:
5% 450,000
3-1/2% - 3-3/4% 1,545,000
1/20% 230,000 2,225,000
1966 A Series - 4% 1,125,000
zr 1968 Series 4-1/4% -
4-6/10% 1,475,000
1973 Series:
5% - 5-1/2% 700,000
4-1/2% - 4-9/10% 1,000,000 1,700,000
$ 9,225,000
See Notes to Financial Statements - Exhibit K.
-23-
DEBT SERVICE FUND
CITY OF WICHITA FALLS, TEXAS Exhibit E-1
Debt Service Fund
Balance Sheet
September 30, 1976 And 1975
September 30,
1976 1975
Assets
Cash (Exhibit E-3) $ 141,622 $ 2,834
om
Certificates Of Deposit (Exhibit E-3) -0- 89,000
Accounts Receivable:
Ad valorem taxes - delinquent
(Exhibits E-4 and E-5) 419,038 412,180
Less allowance for uncollectable
ft taxes (184,867) (163,342)
234,171 248,838
Other funds 1,893 10,002
$ 377,686 $ 350,674
Liabilities, Reserves And Fund Balance
Liabilities - Due to other funds $ 1,008 $ 225
Fund Balance (Exhibit E-2) 376,678 350,449
$ 377,686 $ 350,674
I
1
1 .
1
1
1
See Notes to Financial Statements - Exhibit K.
CITY OF WICHITA FALLS, TEXAS Exhibit E-2
Debt Service Fund
Statement Of Reserve For Future Debt Payments
For The Years Ended September 30, 1976 And 1975
September 30,
1976 1975
Balance, Beginning $ 350,449 $ 345,885
Add - Revenues:
Ad valorem taxes (less allowances
for estimated losses of $21,525
and $23,888, respectively) 2,131,021 2,373,219
Interest on certificates of deposit,
etc. 52,025 26,243
2,183,046 2,399,462
2,533,495 2,745,347
Deduct - Expenditures (Note A) :
General obligation serial bond
' maturities 1,491,000 1,666,000
Interest on general obligation
bonds 663,791 726,694
Paying agents' fee 2,026 2,204
2,156,817 2,394,898
Balance, Ending $ 376,678 $ 350,449
go
Note A - Expenditures were in the same amount as revised appropriations for
the years ended September 30, 1976 and 1975, and there were no en-
cumbrances outstanding at the beginning or end of either fiscal
year.
See Notes to Financial Statements - Exhibit K.
-25-
CITY OF WICHITA FALLS, TEXAS Exhibit E-3
Debt Service Fund
Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
Balances, Beginning:
Cash in bank:
Demand deposits $ 2,834
Certificates of deposit 89,000
91,834
Receipts:
Property taxes receivable 2,147,405
Interest on certificates of deposit, etc. 52,025
Receivable from other funds 7,175
2,206,605
2,298,439
Disbursements:
General obligation serial bond maturities 1,491,000
Interest on general obligation bonds 663,791
Paying agents' fee 2,026
2,156,817
Balances, Ending:
Cash in bank:
Demand deposits 141,622
Certificates of deposit -0-
$ 141,622
See Notes to Financial Statements - Exhibit K.
-26•
CITY OF WICHITA FALLS, TEXAS Exhibit E-4
Debt Service Fund
Changes In Taxes Receivable
For The Year Ended September 30, 1976
Delinquent Current
Taxes Taxes Total
Balances, Beginning $ 412,180 $ -0- $ 412,180
Additions:
Taxes levied 2,152,546 2,152,546
Transfer from current 55,976 55,976
Adjustments, etc. 934 783 1,717
56,910 2,153,329 2,210,239
469,090 2,153,329 2,622,419
Deductions:
Collections 50,052 2,097,353 2,147,405
Transfer to
delinquent 55,976 55,976
50,052 2,153,329 2,203,381
Balances, Ending $ 419,038 $ -0- $ 419,038
See Notes to Financial Statements - Exhibit K.
paw
-27-
77
CITY OF WICHITA FALLS, TEXAS Exhibit E-5
Debt Service Fund
Aged Schedule Of Ad Valorem Taxes Receivable
September 30, 1976
Fiscal Year Taxes
Outstanding Receivable
1963 and prior $ 32,654
1964 - 1965 12,385
1965 - 1966 17,553
1966 - 1967 29,022
1967 - 1968 22,571
1968 - 1969 22,334
1969 - 1970 25,825
1970 - 1971 30,996
1971 - 1972 37,712
1972 - 1973 40,146
1973 - 1974 40,761
1974 - 1975 51,103
1975 - 1976 55,976
Gross Taxes Receivable 419,038
Less Allowance For Uncollectable
Taxes Receivable (184,867)
Net Taxes Receivable $ 234,171
See Notes to Financial Statements - Exhibit K.
-2R-
i
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1
1
1
1
1
I
I
1
1
1
� CAPITAL PROJECTS FUNDS
1
1
CITY OF WICHITA FALLS, TEXAS Exhibit F-2
Capital Projects Funds
Combined Statement Of Authorizations, Expenditures And Encumbrances
For The Year Ended September 30, 1976
Neal th Unit Street And Senior
Combined Building Storm Drain- Citizens
Total 1968 a9e 1968 Building
Amount Appropriated -
Bonds Authorized $ 11,060,000 $ 390,000 $ 10,670,000
Additions:
Prior years 1,914,530 587,173 1,282,820 $ 44,537
Current year:
Interest income 2,206 59 2,147
Federal shared
revenue (Note 3) 767,185 556,641 210,544
Contributions in aid
of construction 1,565 1,565
13,745,486 977,232 12,513,173 255,081
Less Expenditures:
Prior years 12,754,947 972,046 11,738,364 44,537
Current year 815,422 5,186 599,692 210,544
13,570,369 977,232 12,338,056 255,081
Unexpended Balance 175,117 -0- 175,117 -0-
Less - Reserve for encum-
ti September 30,
1976 68,538 68,538
Fund Balances, Ending $ 106,579 $ -0- $ 106,579 $ -0-
7
See Notes to Financial Statements - Exhibit K.
-30-
CITY OF WICHITA FALLS, TEXAS Exhibit F-3
Capital Projects Funds
Combined Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
Health Unit Street And Senior
Combined Building Storm Drain- Citizens
Total 1968 age 1968 Building
Balances, Beginning - Cash
in bank - demand
deposits $ 62,290 $ 5,127 $ 57,163 $ -0-
Receipts:
Interest income 2,206 59 2,147
State of Texas - joint
projects partici-
pation and receivable 4,330 4,330
Accounts receivable other
funds 71,410 71,410
77,946 59 77,887
140,236 5,186 135,050 -0-
Disbursements:
Trade accounts payable 667 667
Bond project costs 46,093 5,186 40,907
Amounts to be reimbursed 16,226 16,226
Payable to other funds 7,394 7,394
70,380 5,168 65,194
Balances, Ending - Cash in
bank - demand deposits $ 69,856 $ -0- $ 69,856 $ -0-
j j
1
II
fG
See Notes to Financial Statements - Exhibit K.
I
-31-
ii
1
1
1
TRUST AND AGENCY FUNDS
i
CITY OF WICHITA FALLS, TEXAS Exhibit G-1
Page 1 of 2
Trust And Agency Funds
Combined Balance Sheet
September 30, 1976
Social
Combined Security Payroll
Total Fund Fund
Assets •
Cash (Exhibit G-3) $ 3,155,272 $ 264,218
ski
Accounts Receivable:
Other governmental units 354,217
Other city funds 141,034 $ 996
School and college district taxes
(Note 2) 1,207,368
Other 30,154 2,429
$ 4,888,045 $ 264,218 $ 3,425
Liabilities, Reserves And Fund Balances
Liabilities:
Trade payables $ 247,453
Accrued payrolls 50,657
Other city funds 144,457 $ 5,176 $ 3,425
Other governmental units 269,725 259,042
Other 3,679
Advances:
Other city funds 979
Other governmental units 16,917
Reserve For School And College
District Taxes Receivable
(Note 2) 1,207,368
Reserve For Encumbrances (Exhibit G-2) 2,854,392
Fund Balance (Exhibit G-2) 92,418
$ 4,888,045 $ 264,218 $ 3,425
See Notes to Financial Statements - Exhibit K.
-32-
S
CITY OF WICHITA FALLS, TEXAS Exhibit G-1
Page 1 of 2
Trust And Agency Funds
Combined Balance Sheet
September 30, 1976
Total
Tax Accounts Rosemont Grants
Collection Payable Clearing Cemetery (Page 2)
Fund Fund Fund Trust Forward
$ 12,686 $ 3,929 $ 603 $ 947 $ 2,872,889
354,217
2,949 4,291 132,798
1,207,368
3,421 24,304
$ 1,226,424 $ 3,929 $ 4,894 $ 947 $ 3,384,208
$ 247,453
50,657
$ 6,688 $ 3,929 $ 4,894 120,345
8,689 1,994
3,679
979
16,917
1,207,368
2,854,392
$ 947 91,471
$ 1,226,424 $ 3,929 $ 4,894 $ 947 $ 3,384,208
-3
CITY OF WICHITA FALLS, TEXAS Exhibit G-1
Page 2 of 2
Trust And Agency Funds
Combined Balance Sheet
September 30, 1976
Community
Total Federal Development
Grants Revenue CETA Block
Forward Sharing Grants Grant
Assets
Cash (Exhibit G-3) $ 2,872,889 $ 2,678,423 $ 62,138
Accounts Receivable:
Other governmental units 354,217 229,417 21,586 $ 33,754
Other city funds 132,798 119,234 5,187 3,033
School and college district
taxes (Note 2)
Other 24,304 24,051 118
$ 3,384,208 $ 3,051,125 $ 89,029 $ 36,787
r
Liabilities, Reserves And Fund Balances
Liabilities:
Trade payables $ 247,453 $ 185,094 $ 15,608 $ 29,304
Accrued payrolls 50,657 1,938 38,830 3,996
Other city funds 120,345 9,701 18,027 3,487
Other governmental units 1,994
Advances:
Other city funds 979
Other governmental units 16,917 16,564
Reserve For School And College
District Taxes Receivable
(Note 2)
Reserve For Encumbrances
(Exhibit G-2) 2,854,392 2,854,392
Fund Balances (Exhibit G-2) 91,471
$ 3,384,208 $ 3,051,125 $ 89,029 $ 36,787
See dotes to Financial Statements - Exhibit K.
-33-
1
IICITY OF WICHITA FALLS, TEXAS Exhibit G-1
Page 2 of 2
II Trust And Agency Funds
Combined Balance Sheet
September 30, 1976
Municipal Criminal
iii Information Traffic Justice All
System Planning Safety Council Other
,q Grant Grants Grants Grants Grants
is
r $ 89,433 $ 3,431 $ 10,708 $ 11,728 $ 17,028
is
' " 100 10,879 6,678 51,803
is 2,817 152 2,375
135
$ 92,350 $ 14,310 $ 17,673 $ 11,728 $ 71,206
::
$ 429 $ 88 $ 16,930
1,372 610 3,911
II $ 3,161 12,509 16,975 $ 10,313 46,172
83 1,911
979
353
A MR
II 89,189 2,282
$ 92,350 $ 14,310 $ 17,673 $ 11,728 $ 71,206
II
I
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MI -32
CITY OF WICHITA FALLS, TEXAS Exhibit G-2
Page 1 of 2
Trust And Agency Funds
Combined Statement Of Revenues, Expenditures And Fund Balances
For The Year Ended September 30, 1976
Social
Combined Security Payroll
Total Fund Fund
Fund Balances, Beginning $ 792,544 $ -0- $ -0-
Additions:
Federal and state grants 2,214,407
Federal shared revenue 1,331,359
Interest income, etc. 193,508
Contributions - others 2,050
Reserve for encumbrances,
beginning 1,912,749
5654,073 -0- -0-
6,446,617 -0- -0-
Deductions - Project Expenditures
(Note 3) 3,499,807 -0- -0-
Unexpended Balances 2,946,810 -0- -0-
Less Reserve For Encumbrances,
Ending 2,854,392
Fund Balances, Ending $ 92,418 $ -0- $ -0-
See Notes to Financial Statements - Exhibit K.
-34,
rm
iY
:: CITY OF WICHITA FALLS, TEXAS Exhibit G-2
Page 1 of 2
1 Trust And Agency Funds
Combined Statement Of Revenues, Expenditures And Fund Balances
For The Year Ended September 30, 1976
Tax Accounts Rosemont Total Grants
Collection Payable Clearing Cemetery (Page 2)
Fund Fund Fund Trust Forward
$ -0- $ -0- $ -0- $ 6,345 $ 786,199
16
2,214,407
ii 1,331,359
193,508
r"
2,050
a
1,912,749
li
-0- -0- -0- 2,050 5,652,023
-0- -0- -0- 8,395 6,438,222
II
-0- -0- • -0- 7,448 3,492,359
II
-0- -0- -0- 947 2,945,863
II2,854,392
1 f -0- $ -0- $ -0- $ 947 $ 01,471
II
I
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i
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I -34-
1
CITY OF WICHITA FALLS, TEXAS Exhibit G-2
Page 2 of 2
Trust And Agency Funds
Combined Statement Of Revenues, Expenditures And Fund Balances
For The Year Ended September 30, 1976
Community
Total Federal Development
Grants Revenue CETA Block
Forward Sharing Grants Grant
Fund Balances, Beginning $ 786,199 $ 698,944 $ -0- $ -0-
Additions: IIFederal and state grants 2,214,407 1,678,744 327,944
Federal shared revenue 1,331,359 1,331,359
Interest income, etc. 193,508 188,383
Contributions - others
Reserve for encumbrances,
beginning 1,912,749 1,912,749
5,652,023 3,432,491 1,678,744 327,944
6,438,222 4,131,435 1,678,744 327,944
Deductions - Project
Expenditures (Note 3) 3,492,359 1,277,043 1,678,744 327,944
Unexpended Balances 2,945,863 2,854,392 -0- -0-
Less Reserve For Encumbrances,
Ending 2,854,392 2,854,392
Fund Balances, Ending $ 1,471 $ -0- $ -0- $ -0-
See Notes to Financial Statements - Exhibit K.
5-
CITY OF WICHITA FALLS, TEXAS Exhibit G-2
Page 2 of 2
Trust And Agency Funds
Combined Statement Of Revenues, Expenditures And Fund Balances
For The Year Ended September 30, 1976
Municipal Criminal
Information Traffic Justice
System Planning Safety Council All Other
Grant Grants Grants Grants Grants
$ 87,255 $ -0- $ -0- $ -0- $ -0-
51,499 12,213 27,568 116,439
I
5,125
II
II 5,125 51,499 12,213 27,568 11 ,439
92,380 51,499 12,213 27,568 116,439
II3,191 51,499 12,213 27,568 114,157
P
89,189 -0- -0- -0- 2,282
ki
$ 89,18T $ -0- $ -0- $ -0- $ 2,282
I
-35-
CITY OF WICHITA FALLS, TEXAS Exhibit G-3
Page 1 of 2 1
Trust And Agency Funds
Combined Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
Social
Combined Security Payroll
Total Fund Fund
Balances, Beginning:
Cash in bank:
Demand deposits $ 680,070 $ 231,052 $ 469
Certificates of deposit 1,931,000
2,611,070 231,052 469
Receipts:
Other funds, payroll and
related 10,977,173 992,562 9,984,611
Other funds, payables 16,208,892
Property taxes 12,876,460
Federal and state grants - wi
revenues 2,027,788
Federal shared revenue 1,331,359
Receivables, other govern-
mental units 858,143
Contributions by other
city funds 6,734
Contributions - others 2,050
Interest income, etc. 182,389
Advances - grantors 18,911
Other city funds 214,170
Other 3,095
44,707,164 992,562 9,984,br1
47,318,234 1,223,614 9,985,080
Disbursements:
Accounts payable - trade 16,309,181
Other city funds 152,535
Payrolls and related 10,945,795 959,396 9,985,080
Accrued payroll 23,412
Taxes collected for city
funds 5,848,260
Taxes collected for other
governmental units 7,069,193
Advances - other city funds 10,552
Project expenditures 3,256,247
Amounts to be reimbursed,
etc. 521,067
Other 26,720
44,162,962 959,396 9,985,080
Balances, Ending:
Cash in bank:
Demand deposits 3,155,272 264,218 -0-
Certificates of deposit
$ 3,155,272 $ 264,218 $ -0-
See Notes to Financial Statements - Exhibit K.
36-
-.--, i xtt.aM.01.tt h w,,,,,,,, ,,...4,i+Aznkkv ..R.,*+vk,a4,.m..,xm+,A,,,+,,,i .,n,,. fr ,,i ,,,t gw..+'+e.Md. M
CITY OF WICHITA FALLS, TEXAS Exhibit G-3
II
Trust And Agency Funds Page l of 2
Combined Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
rm Tax Accounts Rosemont Total Grants
ii Collection Payable Clearing Cemetery (Page 2)
Fund Fund Fund Trust Forward
II
II
$ 53,679 $ -0- $ 583 $ 6,663 $ 387,624
1,931,000
53,679 -0- 583 6,663 2,318,624
16,208,892
�'1 12,876,460
Spy
2,027,788
r, 1,331,359
if' 858,143
6,734
0 2,050
182,389 .
�F 18,911
Ji,' 214,170
2,298 797
II12,876,460 16,208,892 2,298 2,050 4,640,291
12,930,139 16,208,892 2,881 8,713 6,958,915
16,204,963 65 104,153
253 152,282
1,319
I
23,412
5,848,260 '
I
7,069,193
10,552
7,448 3,248,799
I521,067
2,278 24,442
12,917,453 16,204,963 2,278 7,766 4,086,026
12,686 3,929 603 947 2,872,889
$ 12,686 $ 3,929 $ 603 $ 947 $ 2,872,889
-36-
CITY OF WICHITA FALLS, TEXAS Exhibit G-3
Page 2 of 2
Trust And Agency Funds
Combined Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
Total Federal Community
Grants Revenue CETA Development
Forward Sharing Grants Block Grant
Balances, Beginning:
Cash in bank:
Demand deposits $ 387,624 $ 181,021 $ 92,128 $ 3,937
Certificates of deposit 1,931,000 1,931,000
2,318,624 2,112,021 92,128 3,937
Receipts:
Other funds, payroll and
related
Other funds, payables
Property taxes
Federal and state grants -
revenues 2,027,788 1,607,717 291,417
Federal shared revenue 1,331,359 1,331,359
Receivables, other govern-
mental units 858,143 761,195
Contributions by other city
funds 6,734
Contributions - others
Interest income, etc. 182,389 177,264
Advances - grantors 18,911 16,564
Other city funds 214,170 128,788 18,817 1,000
Other 797 342
4,640,291 2,398,948 1,643,098 292,417 1
6,958,915 4,510,969 1,735,226 296,354 �k
Disbursements:
Accounts payable - trade 104,153 80,833 12,986 314
Other city funds 152,282 57,123 16,466 39
Payrolls and related 1,319 1,319
Accrued payroll 23,412 328 19,234 811 11
Taxes collected for city
funds
Taxes collected for other
governmental units
Advances - other city funds 10,552
Project expenditures 3,248,799 1,149,144 1,622,965 295,190
Amounts to be reimbursed,
etc. 521,067 521,067
Other 24,442 24,051 118
4,086,026 1,832,546 1,673,088 296,354 I
Balances, Ending:
Cash in bank:
Demand deposits 2,872,889 2,678,423 62,138 -0-
Certificates of deposit
$ 2,872,889 $ 2,678,423 $ 62,138 $ -0-
See Notes to Financial Statements - Exhibit K. 1
37-
IICITY OF WICHITA FALLS, TEXAS Exhibit G-3
Page 2 of 2
II
Trust And Agency Funds
Combined Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
Municipal Traffic Criminal
itti Information Planning Safety Justice All Other
System Grant Grants Grants Council Grants Grants
I
$ 82,968 $ 1,966 $ 321 $ 3,302 $ 21,981
s 82,968 1,966 321 3,302 21,981
33,289 5,535 27,568 62,262
{ 30,110 31,830 7,570 1,098 26,340
6,734
5,125
436 1,911
9,468 12,000 9,766 8,031 26,300
267 188
II
44,970 77,119 29,605 37,133 117,001
127,938 79,085 29,926 40,435 138,982
I
4,304 202 5,514
38,475 21,789 1,845 16,545
689 2,350
I
I152 10,400
30 49,561 18,175 26,589 87,145
273
38,505 75,654 19,218 28,707 121,954
89,433 3,431 10,708 11,728 17,028
$ 89,433 $ 3,431 $ 10,708 $ 11,728 $ 17,028
-37-
GENERAL FIXED ASSETS
}
CITY OF WICHITA FALLS, TEXAS Exhibit H-1
General Fixed Assets
Balance Sheet
September 30, 1976 And 1975
September 30,
1976 1975
Assets
Land, Streets And Land Betterments $ 32,267,781 $ 31,975,462
Buildings And Improvements 4,666,908 4,330,010
Furniture And Fixtures 704,447 698,305
Machinery And Equipment 3,797,340 3,517,069
Motor Vehicles 1,989,316 1,889,236
' Construction In Progress 218,610 58,226
$ 43,644,402 $ 42,468,308
' Investments In General Fixed Assets
Fixed Assets Acquired Prior To
September 30, 1964 $ 20,846,178 $ 20,846,178
Fixed Assets Provided By General
Fund 5,671,275 5,173,414
' Fixed Assets Contributed 1,760,617 1,619,900
Fixed Assets Provided By Capital
Projects Funds 13,929,446 13,929,446
' Fixed Assets Provided By Federal
Grants And Shared Revenue 1,436,886 899,370
$ 43,644,402 $ 42,468,308
1
1
I
I
See Notes to Financial Statements - Exhibit K.
_10
CITY OF WICHITA FALLS, TEXAS Exhibit H-2
1 General Fixed Assets
Schedule Of Additions And Deletions - By Department
For The Year Ended September 30, 1976
I Beginning Ending
Balances Additions Deletions Balances
Mayor And Board Of Aldermen $ 5,498 $ 208 $ 5,706
General Administration 17,434 6,290 $ 3,395 20,329
Legal And City Clerk 21,625 1,980 23,605
Personnel 9,285 715 10,000
2 Data Processing 296,545 182,986 700 478,831
Library 735,064 4,201 739,265
Health 1,030,727 8,619 1,039,346
I Finance 15,805 2,701 18,506
Tax 44,930 4,349 1,290 47,989
Municipal Court 19,245 612 2,237 17,620
Public Safety 53,778 3,161 56,939
Police 1,112,237 76,701 53,753 1,135,185
Fire 1,198,189 13,730 1,211,919
Fire Marshall 9,045 4,885 3,018 10,912
' Animal Control 32,001 3,382 35,383
iiii Engineering 77,871 9,820 5,201 82,490
Inspection 26,559 3,726 30,285
Property Agent 6,157 6,157
Street Maintenance 27,227,192 505,315 17,130 27,715,377
Sanitation 1,419,116 31,604 10,904 1,439,816
Parks 2,633,677 110,358 14,946 2,729,089
Golf 167,079 8,146 1,390 173,835
' Cemetery 92,715 5,479 3,244 94,950
Planning 13,780 1,586 15,366
Traffic Engineering 994,386 23,788 3,673 1,014,501
Street Lighting 10,000 42,992 52,992
Parking Meters 104,023 2,351 106,374
' Information Center 5,329 5,329
Auditorium Services 52,109 3,309 55,418 •
Purchasing 3,614 434 4,048
Central Garage 167,436 2,637 3,256 166,817
Building Maintenance 1,358,942 23,703 1,382,645
WCID No. 1 3,315,212 3,315,212
WCID No. 2 19,235 19,235
Men's Recreational Building 128,063 128,063
Senior Citizens Center 44,405 210,463 254,868
$ 42,468,308 $ 1,300,231 $ 124,137 $ 43,644,402
See Notes to Financial Statements - Exhibit K.
CITY OF WICHITA FALLS, TEXAS Exhibit H-3
General Fixed Assets
Schedule Of General Fixed Assets By Category
September 30, 1976
Land, Streets dui 1 dfngs
And Land And
Total Betterments Improvements
Mayor And Board Of Aldermen 5,706
General Administration 20,329
Legal And City Clerk 23,605 $ 1,597
Personnel 10,000
Data Processing 478,831 9,288
Library 739,265 $ 5,202 307,140
Health 1,039,346 69,766 791,252
Finance 18,506
Tax 47,989
Municipal Court 17,620
Public Safety 56,939
Police 1,135,185 29,471 532,108
Fire 1,211,919 150,349 515,969
Fire Marshall 10,912
Animal Control 35,383 1,091 11,800
Engineering 82,490 188 864
Inspection 30,285
Property Agent 6,157
Street Maintenance 27,715,377 26,540,489 102,971
Sanitation 1,439,816 38,632 33,512 00
Parks 2,729,089 1,869,339 481,767 iiii
Golf 173,835 4,963 99,045
Cemetery 94,950 49,621 11,005
Planning 15,366
Traffic Engineering 1,014,501 78,072 498
Street Lighting 52,992 37,560
Parking Meters 106,374 36,807 I
Information Center 5,329
Auditorium Services 55,418
Purchasing 4,048
Central Garage 166,817 50,000 43,098
Building Maintenance 1,382,645 32,534 1,321,662
WCID No. 1 3,315,212 3,264,872. 11,886
WCID No. 2 19,235 2,380 15,360II
Men's Recreational Building 128,063 128,063
Senior Citizens Center 254,868 44,005 210,463
$ 43,644,402 $ 32,267,781 $ 4,666,908 glw
m
Ai
See Notes to Financial Statements - Exhibit K. I
II
-40-
1 CITY OF WICHITA FALLS, TEXAS Exhibit H-3
1 General Fixed Assets
Schedule of General Fixed Assets By Category
• • September 30, 1976
I rurniture
And Motor Kachnery Construction
And In
Fixtures Equipment Vehicles Progress
$ 4,497 $ 1,209
5,820 4,796 $ 9,713
17,997 4,011
o li 4,546 3,204 2,250
50,499 419,044
420,378 6,545
0® 47,086 113,341 17,901
iii 7,445 8,795 2,266
14,512 17,787 15,690
7,656 7,452 2,512
2,691 47,812 6,436
36,812 304,225 232,569
17,033 100,341 428,227
714 4,605 5,593
188 4,160 18,144
6,675 30,174 44,589
2,470 4,358 23,457
1,134 2,129 2,894
1,212 596,517 255,578 $ 218,610
3,494 659,390 704,788
9,729 290,845 77,409
1,924 57,378 10,525
1,332 31,545 1,447
II 8,700 3,567 3,099
8,257 858,753 68,921
15,432
791 51,865 16,911
1,864 1,292 2,173
4,378 51,040
1 ,882 2,166
PP
3,527 43,183 27,009
8,804 11,656 7,989
38,454
1 269 1,226
400
$ 704,447 $ 3,797,340 $ • 1,989,316 $ 218,610
u II
{
} -40
rY.
ry_
I.
1
GENERAL BONDED DEBT
001,
im CITY OF WICHITA FALLS, TEXAS Exhibit I-1
PIR
General Long-Term Debt
Balance Sheet
September 30, 1976 And 1975
."' September 30,
1976 1975
e0 Assets
Ai
Amounts Available For Retire-ents
Pm Serial Bonds And Interest
(Exhibit I-2) S 142,507 S 101,611
ma Amounts To Be Provided For Retire-
ment Of Serial Bonds And
im Interest 19,161,473 21,357,160
S 19,303,980 $ 21,458,771
Liabilities
Interest Payable - General Obligation
Bonds (Exhibit I-3) $ 3,739,980 $ 4,403,771
General Obligation Bonds Payable -
II Serial Bonds (Exhibit I-3) 15,564,000 17,055,000
$ 19,303,980 $ 21,458,771
•
I
r
L
See Notes To Financial Statements - Exhibit K.
1 -41 -
CITY OF WICHITA FALLS, TEXAS Exhibit I-2
General Long-Term Debt
Schedule Of Amounts Available In Debt Service Fund
For Retirement Of Bonds And Interest
September 30, 1976 And 1975
September 30,
1976 1975
Cash - Demand Deposits $ 141,622 $ 2,834
Cash - Certificates Of Deposit -0- 89,000
Due From Other Funds 1,893 10,002
Due To Other Funds (1,008) (225)
$ 142,507 $ 101,611
See Notes to Financial Statements - Exhibit K.
-4
CITY OF WICHITA FALLS, TEXAS Exhibit I-3
General Long-Term Debt
Schedule Of Bonded Debt And Interest Maturities
September 30, 1976
General Obligation Bonds
Total
Fiscal Period Serial Bond Interest On Bonds And
Ending Maturities Bonds Interest
1977 $ 1,499,000 $ 602,741 $ 2,101,741
1978 1,500,000 543,038 2,043,038
1979 1,501,000 483,160 1,984,160
1980 1,306,000 423,175 1,729,175
10
1981 1,309,000 371,804 1,680,804
1982 1,311,000 319,767 1,630,767
1983 1,318,000 267,141 1,585,141
is 1984 1,320,000 214,855 1,534,855
1985 1,155,000 171,700 1,326,700
1986 857,000 133,425 990,425
1987 885,000 93,393 978,393
1988 670,000 63,841 733,841
1989 558,000 36,565 594,565
1990 250,000 12,312 262,312
1991 125,000 3,063 128,063
$ 15,564,000 $ 3,739,980 $ 19,303,980
rft
See Notes to Financial Statements - Exhibit K.
[; -43
� .
:
I
�
TRANSIT SYSTEM FUND
1 II
II
CITY OF WICHITA FALLS, TEXAS Exhibit J-1
Transit System Fund
Balance Sheet
September 30, 1976 And 1975
September 30,
II 1976 1975
Assets
i
Current Assets:
I
Cash (Exhibit J-4) $ 6,181 $ 4,008
Due from other funds 3,000 -0-
Inventory - bus parts and supplies 9,751 9,460
Other 1,556 1,649
II 20,488 15,117
Plant and Equipment (Exhibit J-5):
Furniture and fixtures 372 372
Machinery and equipment 12,688 11,654
Buses and motor vehicles 237,740 241,940
250,800 253,966
ii
Less accumulated depreciation (82,333) (53,887)
168,467 200,079
$ 188,955 $ 215,196
1:
Liabilities, Contributions And Retained Earnings (Deficit)
1 Liabilities:
Accounts payable trade $ 2,064 $ 2,967
Due to other funds 20,351 15,249
I Accrued payroll 5,905 4,069
28,320 22,285
Contributions From General Fund 263,450 168,450
I
Contributions In Aid Of Construction
(Note 3) 264,921 232,401
Retained Earnings (Deficit)
(Exhibit J-2) (367,736) (207,940)
II160,635 192,911
$ 188,955 $ 215,196
1
II
See Notes to Financial Statements - Exhibit K.
W
-4i
U,
le
ir CITY OF WICHITA FALLS, TEXAS Exhibit J-2
ri
Transit System Fund
g" Statement Of Operations And Retained Earnings (Deficit)
For The Years Ended September 30, 1976 And 1975
w" September 30,
1976 1975
Operating Revenues $ 109,302 $ 100,635
Operating Expenses (Note 3):
Salaries and wages 143,458 108,233
Social Security 8,381 6,329
Employee retirement plan (Note 6) 2,742 2,165
Employee Insurance 3,734 2,552
Gas, oil and supplies 26,896 23,780
Maintenance 20,002 11,593
Utilities and telephone 4,249 3,631
Rent 3,600 3,600
Insurance 4,919 7,916
Other 18,934 3,255
236,915 173,054
Operating (loss) before other
income and expense (127,613) (72,419)
a" Gain On Sale Of Fixed Assets 305 1,710
Depreciation Expense (Exhibit J-5) (32,646) (29,718)
Interest Income 158 -0-
Net Operating (Loss) (159,796) (100,427)
itts
Retained Earnings (Deficit) , Beginning (207,940) (107,513)
Wow
Retained Earnings (Deficit), Ending $ (367,736) $ (207,940)
TIP
op
la
ii
See Notes to Financial Statements - Exhibit K.
-45-
CITY OF WICHITA FALLS, TEXAS Exhibit J-3
Transit System Fund
Statement Of Changes In Financial Position
For The Years Ended September 30, 1976 And 1975
September 30,
1976 1975
Source Of Funds:
Net (loss) for the year $ (159,796) $ (100,427)
Add charges to (loss) not requiring
outlays of working capital -
depreciation 32,646 29,718
(127,150) (70,709)
Categorical grants (Note 3) 32,520• -0-
Federal shared revenue (Note 3) -0- 84,472
Contributions from general fund 95,000 52,450
370 66,213
Application Of Funds - Additions to plant
and equipment 1,034 85,413
Net increase (decrease) in working
OR capital $ (664) $ (19,200)
Changes In Components:
°. Increase (decrease) in current assets:
Cash $ 2,173 $ (39,522)
Due from other funds 3,000 -0-
Inventory - bus parts and supplies 291 (215)
6110 Other (93) 1,325
(Increase) decrease in current
r. liabilities:
► Accounts payable trade 903 (2,298)
Due to other funds (5,102) 25,579
Accrued payroll (1,836) (4,069)
Net increase (decrease) in working
capital $ (664) $ (19,200)
■
it
■
I
II
■
See Notes to Financial Statements - Exhibit K.
-46-
CITY OF WICHITA FALLS, TEXAS Exhibit J-4
3 Transit System Fund
Statement Of Cash Receipts And Disbursements
For The Year Ended September 30, 1976
Balances, Beginning:
Cash in bank - demand deposits $ 1,964
Petty cash 2,044
4,008
Receipts:
Operating revenues 109,302
Other income 463
Contribution by general fund 92,000
201,765
205,773
Disbursements:
Accounts payable trade 2,967
Fixed asset additions 1,034
Expenditures 190,620
Accrued wages 4,069
Other 902
199,592
Balances, Ending:
Cash in bank - demand deposits 4,137
Petty cash 2,044
$ 6,181
1 II
See Notes to Financial Statements - Exhibit K.
-47.
I
CITY OF WICHITA FALLS, TEXAS Exhibit J-5 I
Transit System Fund
Schedule Of Plant, Equipment And Depreciation
For The Year Ended September 30, 1976
Plant And Equipment
Beginning Transfers Ending
Balances Additions Deletions In (Out) Balances
Furniture And Fixtures $ 372 $ 372 I
Machinery And Equipment 11,654 $ 1,034 $ 12,688
Buses And Motor Vehicles 241,940 $ 4,200 237,740 I
$ 253,966 $ 1,034 $ 4,200 $ -0- $ 250,800
I
I
I
I
I
I
I
I
See Notes to Financial Statements - Exhibit K.
-48- I
::
CITY OF WICHITA FALLS, TEXAS Exhibit J-5
16 Transit System Fund
Schedule Of Plant, Equipment And Depreciation
For The Year Ended September 30, 1976
Accumulated Depreciation Net Plant
tat Beginning Transfers Ending And
Balances Additions Deletions In (Out) Balances Equipment
:: $ 171 $ 24 $ 195 $ 177
8,475 1,018 9,493 3,195
lay
45,241 31,604 $ 4,200 72,645 165,095
r: $ 53,887 $ 32,646 $ 4,200 $ -0- $ 82,333 $ 168,467
I,
II
I
I II
E
i
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1
Il
1
1
3
,..
,..
3 -48.
NOTES TO FINANCIAL STATEMENT
CITY OF WICHITA FALLS, TEXAS Exhibit K
Page 1 of 4
Notes To Financial. Statements
September 30, 1976
1. Accounting Policies And Procedures:
A. Basis of Accounting:
The accompanying financial statements have been prepared, generally, on the
accrual basis. Certain general fund revenues have been consistently stated
on a cash basis. City officials are of the opinion that the accrual basis
applied to these revenues would have an insignificant effect on the finan-
cial statements.
itom Penalty and interest on delinquent ad valorem taxes receivable is not re-
cognized as an asset or income until collected.
y-
Am Paving assessment receivables are offset with a 100% cash basis allowance
in participation paving fund. Income from paving assessments is recognized
when cash is collected.
B. Categorical Grants And Federal Revenue Sharing:
r.
Categorical grants and revenue sharing funds are accounted for in the trust
and agency funds. Expenditures and revenues are also reflected in the other
City funds depending on the nature of the grant or expenditure.
VIM
MD C. Fixed Assets And Depreciation:
Fixed assets of the airport fund and the transit fund are stated at cost.
The records of the general fixed assets and the fixed asset records of the
water and sewer fund are incomplete as to historical carrying values,
identifiable fixed assets units and, also, retirements are, generally, not
recognized due to such incomplete records. Additions for the current year
are stated at cost.
Depreciation of fixed assets is recognized in the water and sewer fund,
airport fund and transit system fund (enterprise funds). Depreciation is
computed on the straight-line basis based on estimated useful lives ranging
from three to fifty years.
Fixed assets acquired from general fund revenues are not carried in the
accounts of the general fund. In conformity with generally accepted govern-
mental 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. No depreciation has been provided on general fixed
assets.
—4Q—
City of Wichita Falls, Texas
Notes To Financial Statements, Continued Exhibit K
September 30, 1976 Page 2 of 4
1. Accounting, Policies And Procedures: (Continued)
it
D. 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.
E. Interest On Revenue Bonds;
Interest on revenue bonds in the water and sewer fund and airport fund is
recognized only as it accrues.
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 cur-
rently serves as collector and as custodian of delinquent tax records for
successors to the former district.
Taxes levied and uncollected for the school and college district aggregated
$1,207,368 at September 30, 1976 and is reflected in the tax collection fund
in the trust and agency fund group.
3. Contributions From Categorical Grants And Federal Revenue Sharing:
Categorical grant expenditures aggregating $1,064,626 and $1,129,727 for the
years ended September 30, 1976 and 1975, respectively, have been reflected
in the following City funds:
1976 1975
General Fund $
776,288 $ 1,106,125
Water and Sewer Fund 83,776
Transit Fund 32,520
Airport Fund 14,286 23,602
Participation Paving Fund 157,756
$ 1,064,626 $ 1,129,727
Federal revenue sharing expenditures aggregating $1,277,043 and $1,348,521
for the years ended September 30, 1976 and 1975, respectively, have been
reflected in the following City funds:
-50-
City of Wichita Falls, Texas
Notes To Financial Statements, Continued Exhibit K
September 30, 1976 Page 3 of 4
3. Contributions From Categorical Grants And Federal Revenue Sharing:
(Continued)
1976 1975
IIGeneral Fund $ 154,904 $ 463,359
Water and Sewer Fund 55,600 78,065
II Participation Paving Fund ' 299,354 217,504
Capital Projects Fund 767,185 505,121
Transit System Fund -0- 84,472
II
$ 1,277,043 $ 1,348,521
The expenditures in the water and sewer fund include $51,708 of fixed asset
II
additions with the contra-amount being contributions in aid of construction.
II4. Collateral - Revenue Bonds:
The net revenues of the water and sewer fund and airport fund are pledged
as collateral for the revenue bonds outstanding in the respective funds.
5. Payable To U. S. Government:
IIThe City of Wichita Falls and Wichita County Water Improvement District No.
2, upon the completion of the Lake Kemp reconstruction project by the U. S.
II Government, is required to reimburse to the U. S. Government 22.7% of their
reported total cost of $8,764,912 or $1,989,635. The City's share of this
amount is 66.11% or $1,315,348 payable in fifty annual installments of $51,661
which includes interest at the rate of 3.225%. The first payment was made
in February of 1976 with each subsequent payment due on January 1.
The City's share of the total costs reported by the U. S. Government or
II $5,794,483 is reflected in fixed assets and the City's share of the unreim-
bursed costs or $4,479,135 is reflected as a contribution in aid of
construction.
6. Employee Retirement Cost:
I City employees, except for firemen, are covered by the Texas Municipal Re-
tirement System; firemen are covered by a self administered Fireman's Relief
Fund. The Fireman's Relief Fund contribution is currently 6.75% of partici-
pant's salary; the rate was, also, 6.75% in 1975. The Texas Municipal Re-
tirement System contribution is currently 5.25% of participant's salary up
to a maximum annual salary of $8,400; the rate was 5.75% in 1975. Prior
service liability, if any, is funded by the City annually and would be in-
cluded in the contribution rate.
_G,
City of Wichita Falls, Texas
Notes To Financial Statements, Continued Exhibit K
September 30, 1976 Page 4 of 4
6. Employee Retirement Cost: (Continued)
1
City' s contributions, to both plans, charged to operations is as follows:
1976 1975
General Fund $ 329,483 $ 308,043
Water and Sewer Fund 54,214 54,368
Airport Fund 3,332 2,776
Transit System Fund 2,742 2,165
$ 389,771 $ 367,352
7. Contributions (Transfers) Of Surplus Funds:
During the current fiscal year, $820,000 of surplus funds in the water and
sewer fund were contributed (transferred) to the general fund and $820,000
was contributed in the prior fiscal year. At the time of the transfers, all
requirements of the bond reserve fund and the interest and sinking fund in
the water and sewer fund had been satisfied.
The transfers were made from surplus accounts of the water and sewer fund
in compliance with existing ordinances governing such transfers and in con-
formance with excess revenue provisions of the pertinent revenue bond
indentures.
8. Airport Lease :
The airport facilities are situated on land at Sheppard Air Force Base. The
land is leased from the Department of the Air Force at a cost of $1.00 per
year for a period of fifty years, beginning May 15, 1959 and expiring May 14,
2009. Additional rent is required for landing fees at a rate of $1.8264 per
scheduled landing. Rent expense on this lease was $8,162 and $7,224 for the
fiscal years ended September 30, 1976 and 1975, respectively.
11 9. Contracts And Commitments:
The City is contingently liable as endorser of a $400,000 note payable made
by Wichita Falls General Hospital to a bank for the purchase of land. At
September 30, 1976, the remaining balance of the note payable was $265,496
and all required payments had been made.
11 Data processing equipment rentals and payments aggregating approximately
$110,000 will be required for the next fiscal year.
-52-
l
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
IP
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
r" 1969-70 6,590,542 4,743,846 1,350,000 489,841 6,855
iiii 1970-71 7,049,348 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
or 1972-73 7,655,325 5,091,491 1,900,000 656,405 7,429
1973-74 8,233,443 5,220,182 2,325,000 681,368 6,893
40
1974-75 9,055,245 5,609,386 2,681,906 757,410 6,543
1975-76 9,707,747 5,713,960 2,983,763 1,003,408 6,616
] .
13
3
3
6
I
I
I
I .
ppm
iiii
-53-
I
CITY OF WICHITA FALLS, TEXAS Exhibit L-2 1
Property Tax Levies And Collections 1
Last Ten Fiscal Years I
Per Cent
Total Tax Current Tax Of Levy
Fiscal Year Levy Collections Collected
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%
1972-73 5,149,122 4,982,724 96,77%
1973-74 5,272,911 5,102,886 96.78%
1974-75 5,646,229 5,500,910 97.43%
1975-76 5,771,676 5,621,613 97.40%
-54-
I
CITY OF WICHITA FALLS, TEXAS Exhibit L-2
Property Tax Levies And Collections
Last Ten Fiscal Years
I
Delinquent Tax Total Tax Total Coll ections
Percent Of
Collections Collections Current Levy
111 $ 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%
r 146,079 4,836,237 99.20%
132,984 4,941,050 98.84%
3 142,230 5,124,954 99.53%
{ 126,249 5,229,135 99.17%
133,094 5,634,004 99.78%
119,564 5,741,177 99.47%
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CITY OF WICHITA FALLS, TEXAS Exhibit L-3
Assessed And Estimated Actual Value Of Taxable Property
Last Ten Fiscal Years
Real Property Personal Pro ertJy
Fiscal Assessed Estimated Assessed Estimated
Year Value Actual Value Value Actual Value
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
1972-73 216,141,878 432,283,756 57,740,540 115,481,080
1973-74 228,732,633 457,465,266 60,981,302 121,962,604
1974-75 332,865,560 475,522,228 101,448,771 144,926,816
1975-76 344,233,986 491,762,837 128,840,713 184,058,161
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' 1
CITY OF WICHITA FALLS, TEXAS Exhibit L-3
1 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
$ 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%
1 254,400,940 508,801,880 50.00%
263,348,350 526,696,700 50.00%
273,882,418 547,764,836 50.00%
11 289,713,935 579,427,870 50.00%
434,314,331 620,449,044 70.00%
473,074,699 675,820,998 70.00%
t1
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CITY OF WICHITA FALLS, TEXAS Exhibit L-4
Tax Rates And Tax Levies I
1966-1976
Tax Rates Per $100 Valuation
Fiscal WFISD CVISD
Period City School (1) School (2)
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 I
1970-71 1.92 1.86 2.30
1971-72 1.90 1.86 1.35
1972-73 1.88 1.86 1.35
m
1973-74 1.82 1.92 1.35
1974-75 1.30 1.50 1.67 a
1975-76 1.22 1.50 1.67
Tax Levies
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 4,757,473 95,862
1971-72 4,922,000 4,891,188 135,000
1972-73 5,149,122 5,071,376 138,331
1973-74 5,272,911 5,361,905 171,566
1974-75 5,646,229 6,474,269 175,000
1975-76 5,771,676 7,077,588 258,433
m,
(1) WFISD - Wichita Falls Independent School District - 91.79% in Wichita Falls mi
city limits
(2) CVISD - City View Independent School District - 66.34% in Wichita Falls city r
limits
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CITY OF WICHITA FALLS, TEXAS Exhibit L-4
Tax Rates And Tax Levies
1966-1976
Tax Rates Per $100 Valuation
County State Total
$ 1.05 $ .47 $ 6.94
1.05 .47 6.94
im
1.05 .42 7.23
1.05 .37 7.50
1.05 .32 7.45
1.05 .27 6.43
1.05 .22 6.36
1.00 .17 6.26
LL' .97 .12 5.56
.97 .12 5.48
Tax Levies
$ 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 12,207,292
2,180,136 371,610 12,910,575
2,226,311 312,574 13,345,267
1: 2,365,309 257 ,770 14,918,577
2 ,840,691 283,566 16,231,954
-56-
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
Fiscal Assessed Gross Bonded
Year Population Value Debt**
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
1972-73 100,400 273,882,418 20,353,000
1973-74 101,600 289,713,935 18,721,000
1974-75 103,000 434,314,331 17,055,000
1975-76 103,700 473,074,699 15,564,000
** Includes Water and Sewer Tax Obligation Bonds
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II CITY OF WICHITA FALLS, TEXAS Exhibit L-5
t II Ratio Of Net General Bonded Debt To Assessed Value
And Net Bonded Debt Per Capita
Last Ten Fiscal Years
II
Ratio Net
Bonded Debt
Less Debt Net Bonded To Assessed Net Bonded Debt
Service Funds Debt Value Per Capita
$ 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
372,540 19,980,460 7.30% 199.01
345,885 18,375,115 6.34% 180.86
350,674 16,704,326 3.85 162.18
377,686 15,186,314 3.21% 146.44
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CITY OF WICHITA FALLS, TEXAS Exhibit L-6
Statement Of Direct Debt
September 30, 1976
City Of Wichita Falls:
General Obligation Debt $ 15,564,000
Less:
Self Supporting Debt (A) $ 3,300,000
Amount Available for
Debt Service 142,507 3,442,507
Net Debt $ 12,121,493
(A) General Obligation Bonds issued for Water and Sewer purposes.
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CITY OF WICHITA FALLS, TEXAS Exhibit L-7
Schedule Of Revenue Bond Coverage
Water And Sewer Revenue Bonds
Last Ten Years
Net Revenue
Fiscal Gross Available For
Year Revenues Expenses Debt Service
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
1972-73 3,301,637 1,641,288 1,660,349
1973-74 3,919,673 1,835,213 2,084,460
1974-75 4,039,293 2,222,181 1,817,112
1975-76 4,574,697 2,643,078 1,931,619
.01
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CITY OF WICHITA FALLS, TEXAS Exhibit L-7
1 Schedule Of Revenue Bond Coverage
Water And Sewer Revenue Bonds
Last Ten Years
Annual Debt Service Requirements
Principal Interest Total Times Covered
r"
ill $ 370,000 $ 380,279 $ 750,279 2.06
445,000 427,724 872,724 1.55
F* 445,000 454,881 899,881 1.96
iir 545,000 430,130 975,130 1.81
545,000 402,881 947,881 1.88
550,000 376,656 926,656 1.91
II
II 550,000 353,656 903,656 1.84
650,000 439,231 1,089,231 1.91
650,000 402,715 1,052,715 1.73
650,000 375,265 1,025,265 1.88
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CITY OF WICHITA FALLS, TEXAS Exhibit L-8
Schedule Of Revenue Bond Coverage '
Airport Revenue Bonds
Last Ten Years I
Net Revenue
Fiscal Gross Available For
Year Revenue Expenses Debt Service
1966-67 $ 94,990 $ 46,181 $ 48,809
1967-68 96,805 50,571 46,234
1968-69 111,148 60,407 50,741 I
1969-70 117,520 63,141 54,379
1970-71 116,116 67,598 48,518
1971-72 120,551 75,235 45,316 m
1972-73 130,164 90,411 39,753
1973-74 160,045 99,970 60,075
1974-75 166,882 118,626 48,256
1975-76 205,392 140,609 64,783
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CITY OF WICHITA FALLS, TEXAS Exhibit L-8
Schedule Of Revenue Bond Coverage
Airport Revenue Bonds
Last Ten Years
Annual Debt Service Requirements
Principal Interest Total Times Covered
$ 15,000 $ 13,188 $ 28,188 1.73
15,000 18,550 33,550 1.38
15,000 18,062 33,062 1.53
r"" 15,000 17,576 32,576 1.67
20,000 17,050 37,050 1.31
20,000 16,302 36,302 1.19
mm 25,000 15,550 40,550 .89
its 25,000 14,626 39,626 1.38
25,000 13,700 38,700 1.25
25,000 12,725 37,725 1.72
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CITY OF WICHITA FALLS, TEXAS Exhibit L-9
Schedule Of Bonded Debt And Interest Maturities I
September 30 1976
General Obligation Bonds Water And
Serial Bond Interest Total Bonds Serial Bond I
Fiscal Period Maturities On Bonds And Interest Maturities
1977 $ 1,499,000 $ 602,741 $ 2,101,741 $ 650,000
1978 1,500,000 543,038 2,043,038 675,000
1979 1,501,000 483,160 1,984,160 675,000
1980 1,306,000 423,175 1,729,175 675,000
1981 1,309,000 371,804 1,680,804 680,000
1982 1,311,000 319,767 1,630,767 680,000 k
1983 1,318,000 267,141 1,585,141 680,000
1984 1,320,000 214,855 1,534,855 680,000
1985 1,155,000 171,700 1,326,700 680,000 i
1986 857,000 133,425 990,425 680,000
1987 885,000 93,393 978,393 680,000
1988 670,000 63,841 733,841 680,000
1989 558,000 36,565 594,565 330,000
1990 250,000 12,312 262,312 330,000
1991 125,000 3,063 128,063 250,000
1992 100,000
1993 100,000
$ 15,564,000 $ 3,739,980 $ 19,303,980 $ 9,225,000
0,
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CITY OF WICHITA FALLS, TEXAS Exhibit L-9
Schedule Of Bonded Debt And Interest Maturities
September 30, 1976
Sewer Revenue Bonds Airport Revenue Bonds
Interest On Total Bonds Serial Bond Interest Total Bonds
Bonds And Interest Maturities On Bonds And Interest Total
$ 347,815 $ 997,815 $ 25,000 $ 11,750 $ 36,750 $ 3,136,306
319,834 994,834 25,000 10,775 35,775 3,073,647
291,321 966,321 25,000 9,800 34,800 2,985,281
264,121 939,121 30,000 8,825 38,825 2,707,121
238,703 918,703 30,000 7,600 37,600 2,637,107
212,815 892,815 30,000 6,375 36,375 2,559,957
186,810 866,810 30,000 5,150 35,150 2,487,101
160,648 840,648 30,000 3,925 33,925 2,409,428
134,199 814,199 20,000 2,700 22,700 2,163,599
107,461 787,461 20,000 1,800 21,800 1,799,686
80,724 760,724 20,000 900 20,900 1,760,017
55,676 735,676 1,469,517
38,921 368,921 963,486
26,496 356,496 618,808
18,319 268,319 396,382
10,200 110,200 110,200
5,100 105,100 105,100
$ 2,499,163 $ 11,724,163 $ 285,000 $ 69,600 $ 354,600 $ 31,382,743
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CITY OF WICHITA FALLS, TEXAS Exhibit L-10
Page 1 of 3
Combined Schedule Of Bonds Payable
September 30, 1976
Interest Final
Rates And Issue Maturity
Dates Date Date
General Obligation Bonds:
1955 Wichita County Water
Control And Improvement
District No. 4 4-1/2, 4-3/4; (1/1, 7/1) 1/1/55 1/1/85 !I
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1956 Wichita County Water
Control And Improvement
District No. 5 4, 4-1/2; (11/1, 5/1) 11/1/56 11/1/86
1959 Waterworks 4-1/2, 3-1/2, 3-3/4; I
Improvement (2/1, 8/1) 8/1/59 8/1/79
1959 Wichita County Water
Control And Improvement
District No. 6 4-3/4, 5-1/2; (9/1, 3/1) 9/1/59 9/1/89
ai
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CITY OF WICHITA FALLS, TEXAS Exhibit L-10
014 Page 1 of 3
Combined Schedule Of Bonds Payable
Setpember 30, 1976
Annual
Serial Bonds
Payments Authorized Issued Retired Outstanding
$ 2,000 (1958-59) $ 275,000 $ 275,000 $ 132,000 $ 143,000
3,000 (1960-61)
4,000 (1962-63)
II5,000 (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)
5,000 (1959-62) 560,000 560,000 210,000 350,000
11 10,000 (1963-67)
15,000 (1968-71)
20,000 (1972 Jan. - 1975 Dec.)
25,000 (1976 Jan. - 1978 Dec. )
i 30,000 (1979-81)
35,000 (1982-84)
40,000 (1985-86)
200,000 (1960-79) 4,000,000 4,000,000 3,400,000 600,000
5,000 (1963-66) 385,000 385,000 127,000 258,000
7 ,000 (1967)
8,000 (1968-69)
10,000 (1970-71)
12,000 (1972-74)
14,000 (1975-76)
15,000 (1977-78)
16,000 (1979-80)
i 18,000 (1981-82)
!!
20,000 (1983-85)
22,000 (1986)
25,000 (1987-88)
28,000 (1989)
-62-
CITY OF WICHITA FALLS, TEXAS Exhibit L-10
Page 2 of 3
Combined Schedule Of Bonds Payable
September 30, 1976
Interest Final
Rates And Issue Maturity
Dates Date Date
General Obligation Bonds: (Cont. )
1959 Wichita County Water
Control and Improvement
District No. 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 1/10, 3.30, 3-1/4, 4, 5;
Bonds (2/1, 8/1) 8/1/63 8/1/88
1964 General Obligation 5, 4-7/8, 3, 3.10, 3.20,
Bonds 1/10; (2/1, 8/1) 8/1/64 8/1/84
1965 General Obligation 5, 4-3/4, 3, 3.10, 1/20
Bonds of 1%; (2/15, 8/15) 2/15/65 2/15/85
1968 General Obligation 5, 4-7/8, 4-1/2, 1/2 of
Bonds 1%; (1/10, 7/10) 1/10/68 7/10/87
1968-A General Obligation 5, 4.5, 4.1, 4.2, 4.25,
Bonds 4.3, 4.35, 4.4, 4.5, 4.55,
4.6, 3.5; (6/1, 12/1) 12/1/68 6/1/89
1970 General Obligation 7/0, 6.0, 5.25, 5.5, 5.75,
Bonds 5.85, 6.0, 6.1, 5.0; (2/15,
8/15) 2/15/70 2/15/90
1971 General Obligation 4.0, 4.25, 4.5, 4.7, 4.8,
4.9; (2/15, 8/15) 2/15/71 2/15/91
Total General Obligation
Bonds
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*1' 1
CITY OF WICHITA FALLS, TEXAS Exhibit L-10
Page 2 of3
1 Combined Schedule Of Bonds Payable
September 3O, 1976
Annual
I Serial Bonds
Payments Authorized Issued Retired Outstanding
II
$ 5,000 (1962-70) $ 300,000 $ 300,000 $ 97,000 $ 203,000
II
8,000 (1971-74)
10,000 (1975-81)
12,000 (1982-85)
ii 25,000 (1986-88)
30,000 (1989)
m
fiii 20,000 (1964-79) 320,000 320,000 260,000 60,000
100,000 (1964-79) 2,680,000 2,680,000 1,300,000 1,380,000
1 MA 120,000 (1980-88)
ii 160,000 (1965-67) 3,285,000 3,285,000 1,965,000 1,320,000
165,000 (1968-84)
01
300,000 (1966-85) 6,000,000 6,000,000 3,300,000 2,700,000
i150,000 (1970-75) 3,000,000 3,000,000 1,075,000 1,925,000
175,000 (1976-87)
II
85,000 (1971) 4,435,000 4,435,000 1,185,000 3,250,000
II150,000 (1972)
225,000 (1973-74)
250,000 (1975-89)
I
100,000 (1972-86) 2,000,000 2,000,000 500,000 1,500,000
iiii 125,000 (1987-90)
ii 125,000 (1976-91) 2,000,000 2,000,000 125,000 1,875,000
Lib $29,240,000 $ 29,240,000 $ 13,676,000 $ 15,564,000
' "" -63
CITY OF WICHITA FALLS, TEXAS Exhibit L-10
Page 3 of 3
Combined Schedule of Bonds Payable
September 30, 1976
Interest Final ;,,
Rates And Issue Maturity
Dates Date Date
Revenue Bonds: I
Water and Sewer Revenue Bonds:
1963 Water And Sewer 1/10, 3, 3.2, 3.3, 5; I
Revenue (2/1, 8/1) 8/1/63 8/1/88
1966 Water And Sewer 5, 3-1/2, 3.6, 3-3/4,
I
Revenue 1/20; (8/1, 2/1) 2/1/66 2/1/91
I
1966-A Water And Sewer I
Revenue 5, 4-7/8, 4; (2/1, 8/1) 11/1/66 8/1/91
1968 Water And Sewer 5, 4-5/8, 4-1/4, 4-1/2, I
Revenue 4.60; (8/1, 2/1) 2/1/68 2/1/88
I
1973 Water And Sewer 5.5, 4.75, 4.5, 4.6, 4.7,
Revenue 4.75, 4.9, 5, 5.1; (2/1,
8/1) 7/1/73 8/1/93 I
Total Water And Sewer
Revenue Bonds I
Airport Revenue Bonds:
1
1964 Airport Revenue 3-1/4, 3-1/2, 3-3/4, 4;
(4/15, 10/15) 4/15/64 4/15/84
1967 Airport Revenue 4-1/2; (10/15, 4/15) 4/15/67 4/15/87 I
Total Airport Revenue
Bonds
Total Revenue Bonds I
Total All Bonds
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CITY OF WICHITA FALLS, TEXAS Exhibit L-10
Page 3 of 3
Combined Schedule Of Bonds Payable
September`30, 1976
Annual
Serial Bonds
Payments Authorized Issued Retired Outstanding
$ 220,000 (1964-71) $ 5,585,000 $ 5,585,000 $ 2,885,000 $ 2,700,000
225,000 (1972-88)
75,000 (1966) 3,800,000 3,800,000 1,575,000 2,225,000
150,000 (1967-80)
155,000 (1981-90)
75,000 (1991)
75,000 (1968-91) 1,800,000 1,800,000 675,000 1,125,000
100,000 (1970-77) 2,175,000 2,175,000 700,000 1,475,000
125,000 (1978-88)
100,000 (1974-93) 2,000,000 2,000,000 300,000 1,700,000
15,360,000 15,360,000 6,135,000 9,225,000
10,000 (1965-66) 375,000 375,000 190,000 185,000
15,000 (1967-72)
20,000 (1973-79)
25,000 (1980-84)
5,000 (1971-84) 130,000 130,000 30,000 100,000
20,000 (1985-87)
505,000 505,000 220,000 285,000
15,865,000 15,865,000 6,355,000 9,510,000
$ 45,105,000 $ 45,105,000 $ 20,031,000 $ 25,074,000
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