2025 ACFR Wichita Falls 03-17-26 CITY OF WICHITA FALLS, TX
RECEIVED ANNUAL
By Marie Balthrop at 4:48 pm, Mar 17, 2026
• PREI-IENSIVE
REPORT
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CITY OF WICHITA FALLS, TEXAS
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 2025
TABLE OF CONTENTS
Exhibit Page
INTRODUCTORY SECTION
Letter of Transmittal i-xi
GFOA Certificate of Achievement xii
Organizational Chart xiii
City Council&List of Principal Officials xiv-xv
FINANCIAL SECTION
Independent Auditor's Report 1-3
Management's Discussion and Analysis(Required Supplementary Information) 4-13
BASIC FINANCIAL STATEMENTS:
Statement of Net Position A-1 14
Statement of Activities A-2 15
Balance Sheet-Governmental Funds A-3 16
Reconciliation of the Governmental Funds Balance Sheet to the Statement
of Net Position A-4 17
Statement of Revenues, Expenditures and Changes in Fund Balances-
Governmental Funds A-5 18
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund
Balances of the Governmental Funds to the Statement of Activities A-6 19-20
Statement of Net Position- Proprietary Funds A-7 21-22
Statement of Revenues, Expenses and Changes in Net Position-
Proprietary Funds A-8 23
Statement of Cash Flows- Proprietary Funds A-9 24-25
Statement of Fiduciary Net Position A-10 26
Statement of Changes in Fiduciary Net Position A-11 27
Notes to the Financial Statements 28-69
REQUIRED SUPPLEMENTARY INFORMATION:
Budgetary Comparison Schedule-General Fund B-1 70
Schedule of Changes in Net Pension Liability and Related Ratios—
Texas Municipal Retirement System B-2 71
Schedule of Contributions—Texas Municipal Retirement System B-3 72
Schedule of Changes in Net Pension Liability and Related Ratios—
Wichita Falls Firemen's Relief and Retirement Fund B-4 73
Schedule of Contributions—Wichita Falls Firemen's Relief and
Retirement Fund B-5 74
Schedule of Changes in Net OPEB Liability and Related Ratios—
City of Wichita Falls Retiree Health Care Plan B-6 75
Schedule of Contributions—City of Wichita Falls Retiree
Health Care Plan B-7 76
Notes to the Required Supplementary Information 77-78
CITY OF WICHITA FALLS, TEXAS
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 2025
TABLE OF CONTENTS(CONT'D.)
Exhibit Page
COMBINING FINANCIAL STATEMENTS:
Nonmajor Governmental Funds:
Combining Balance Sheet C-1 79
Combining Statement of Revenues, Expenditures and Changes in Fund Balances C-2 80
Budgetary Comparison Schedule—Community Development Block Grant Fund C-3 81
Budgetary Comparison Schedule—Section 8 Housing Fund C-4 82
Budgetary Comparison Schedule—Home Investment Partnership Agreement Fund C-5 83
Budgetary Comparison Schedule—MPEC/Hotel/Motel Tax Fund C-6 84
Budgetary Comparison Schedule—Hotel/Motel Venue Tax Fund C-7 85
Budgetary Comparison Schedule—Golf Fund C-8 86
Budgetary Comparison Schedule—Debt Service Fund C-9 87
Nonmajor Enterprise Funds:
Combining Statement of Net Position D-1 88
Combining Statement of Revenues, Expenses and Changes in Fund Net Position D-2 89
Combining Statement of Cash Flows D-3 90-91
Internal Service Funds:
Combining Statement of Net Position E-1 92
Combining Statement of Revenues, Expenses and Changes in Fund Net Position E-2 93
Combining Statement of Cash Flows E-3 94
Component Units:
Combining Statement of Net Position F-1 95
Combining Statement of Activities F-2 96
SUPPORTING SCHEDULES:
Combined Schedule of Bonded Debt and Interest Maturities G-1 97
Combined Schedule of Bonds Payable G-2 98-102
Debt Service Coverage—Revenue Bonds G-3 103
Capital Assets Used in the Operation of Governmental Funds-
Schedule By Function and Activity G-4 104
Capital Assets Used in the Operation of Governmental Funds-
Schedule of Changes By Function and Activity G-5 105
Regional Airport Fund—Capital Assets and Accumulated Depreciation G-6 106
Kickapoo Airport Fund—Capital Assets and Accumulated Depreciation G-7 107
Transit Fund—Capital Assets and Accumulated Depreciation G-8 108
Stormwater Drainage Fund-Capital Assets and Accumulated Depreciation G-9 109
Sanitation Fund—Capital Assets and Accumulated Depreciation G-10 110
CITY OF WICHITA FALLS, TEXAS
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 2025
TABLE OF CONTENTS(CONT'D.)
Exhibit Page
Water and Sewer Fund—Capital Assets and Accumulated Depreciation G-11 111
Waterpark Fund—Capital Assets and Accumulated Depreciation G-12 112
Fleet Maintenance Fund—Capital Assets and Accumulated Depreciation G-13 113
Duplicating Services Fund—Capital Assets and Accumulated Depreciation G-14 114
Information Technology Fund—Capital Assets and Accumulated Depreciation G-15 115
Wichita Falls Economic Development Corporation—Capital Assets and
Accumulated Depreciation G-16 116
Wichita Falls 4B Sales Tax Corporation—Capital Assets and
Accumulated Depreciation G-17 117
STATISTICAL SECTION (UNAUDITED)
Net Position By Component—Last Ten Fiscal Years H-1 118
Changes in Net Position—Last Ten Fiscal Years H-2 119-120
Fund Balances,Governmental Funds—Last Ten Fiscal Years H-3 121
Changes in Fund Balances,Governmental Funds—Last Ten Fiscal Years H-4 122
Tax Revenues By Source,Governmental Funds—Last Ten Fiscal Years H-5 123
Assessed and Estimated Actual Value of Taxable Property—Last Ten Fiscal Years H-6 124
Direct and Overlapping Property Tax Rates—Last Ten Fiscal Years H-7 125
Principal Property Taxpayers—Current Year and Nine Years Ago H-8 126
Property Tax Levies and Collections—Last Ten Fiscal Years H-9 127
Ratios of Outstanding Debt by Type—Last Ten Fiscal Years H-10 128
Ratios of General Bonded Debt Outstanding—Last Ten Fiscal Years H-11 129
Direct and Overlapping Governmental Activities Debt H-12 130
Computation of Legal Debt Margin—Last Ten Fiscal Years H-13 131
Pledged Revenue Coverage—Water and Sewer Revenue Bonds—
Last Ten Fiscal Years H-14 132
Demographic Statistics—Last Ten Fiscal Years H-15 133
Principal Employers—Current Year and Ten Years Ago H-16 134
Full-Time Equivalent City Government Employees by Function/Program—
Last Ten Fiscal Years H-17 135
Operating Indicators by Function/Program—Last Ten Fiscal Years H-18 136
Capital Asset Statistics by Function/Program—Last Ten Fiscal Years H-19 137
Graphics:
Cash and Investments I-1 138
Total Bonds Payable 1-2 139
General Obligation Bonds Payable 1-3 140
Revenue Bonds Payable 1-4 141
General Fund Equity 1-5 142
Comparison of Tax Levy and Collections 1-6 143
Revenues by Source—FYE 9/30/25 1-7 144
Expenditures by Function—FYE 9/30/25 1-8 145
General Governmental Revenues(General Fund Only) 1-9 146
General Governmental Expenditures(General Fund Only) 1-10 147
INTRODUCTORY SECTION
FINANCE C EPARTMENT
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March 17, 2026
The Honorable Mayor,
Members of the City Council,
City Manager and Citizens of Wichita Falls,TX
We are pleased to submit the Annual Comprehensive Financial Report of the City of Wichita Falls,TX for
the fiscal year ended September 30, 2025, together with the opinion of our independent certified public
accountants, Edgin, Parkman, Fleming& Fleming, PC, whose report is included. The Finance Department
prepared this report to present the financial position of the City. The financial statements and supporting
schedules have been prepared in accordance with generally accepted accounting principles and meet the
requirements of the State of Texas and the City Charter.
Management assumes full responsibility for the completeness,fairness, and reliability of the information
contained in this report, based on a comprehensive framework of internal controls established for this
purpose. We believe the data presented here is accurate in all material respects. It is presented to fairly
set forth the financial position and results of operation of the City, as measured by the financial activity
of its various funds. All disclosures necessary to enable the reader to gain an understanding of the City's
financial activities have been included.
Edgin, Parkman, Fleming & Fleming, PC, issued an unmodified opinion on the City's financial statements
for the year ended September 30, 2025. The Independent Auditor's Report may be found on page 1 of
this document.
Management's Discussion and Analysis(MD&A) immediately follows the Independent Auditor's Report in
this document. The MD&A provides additional detail and a narrative overview and analysis of the financial
statements. It should be read in conjunction with the Basic Financial Statements and the Notes to the
Basic Financial Statements.
CITY OF WICHITA FALLS PROFILE
The City of Wichita Falls,the home of Sheppard Air Force Base, is located in north-central Texas. The City
was incorporated in 1889 and now encompasses 70.1 square miles. Wichita Falls is linked to major
southwestern, western, and mid-western cities by Interstate 44, U.S. Highways 82, 281, 277, 287, and
Texas State Route 79.The city is approximately 130 miles northwest of the Dallas/Fort Worth Metroplex,
15 miles from the Red River that marks the Texas/Oklahoma border, and 125 miles south of Oklahoma
City.The city is located in the crosstimbers area of the gently rolling north-central plains and is crossed by
the Wichita River. Due to the city's geographic location, Wichita Falls serves as a regional economic hub
for North Texas and South-Central Oklahoma. Wichita Falls is the county seat of Wichita County and a
major population center in North Texas. The population of Wichita Falls is 102,372 according to the 2024
US Census Bureau estimate.
ECONOMIC CONDITION AND ACTIVITY
Wichita Falls has successfully diversified its economy to include new manufacturing,government, medical
services, retail, and service-related commerce.This diversification is in addition to the more typical North
Texas industries of agriculture and oil and gas production.The Wichita Falls Metropolitan Statistical Area
(MSA) includes a robust manufacturing sector, with several firms employing more than 100 workers.The
MSA covers three North Texas counties of Archer, Clay, and Wichita. The largest employment sectors
within the MSA include healthcare and social assistance, manufacturing, and government services. The
total population of the MSA is 149,689. Wichita Falls' strategic location along major regional
transportation corridors and its competitive cost of living continue to support business attraction and
workforce retention.
The unemployment rate for the Wichita Falls MSA was 3.5% in December 2025.This is down from a high
of 10.2% in April of 2020.The area's largest employers include Sheppard Air Force Base, United Regional
Health Care System, Wichita Falls ISD, Midwestern State University, and North Texas State Hospital.
The economy is based on mineral production, retail trade, manufacturing, agribusiness, and government
installations. Principal sources of agricultural income include cattle, cotton, and wheat. The City benefits
from several institutions of higher learning, a strong international presence through Sheppard Air Force
Base, and an eager workforce, all supported by a community spirit centered on family and quality of life.
The central business district is 5 miles from Sheppard Air Force Base. Sheppard Air Force Base was
established in 1941 and is the most diverse training installation for the Air Force.The base is home to the
Air Force's largest technical training wing and Euro-NATO Joint Jet Pilot Training program, which trains
combat pilots for 14 NATO partners. According to an economic impact analysis produced by the Texas
Comptroller, Sheppard Air Force Base contributed at least$3.2 billion to the Texas economy in 2023.The
base employs approximately 17,801 active duty and civilian personnel.
Wichita Falls is also positioning itself to benefit from emerging investment in digital infrastructure,
including data center development. On February 18'2026 Forward Wichita Falls announced that Skybox
Data Centers will develop the first large-scale data center campus in Wichita Falls, which they will call
Power Campus.The region's reliable electric power supply,available industrial land,and access to regional
fiber networks provide favorable conditions for data center operators seeking locations outside of major
metropolitan markets. In addition, the community's proximity to major transmission corridors and
relatively stable climate conditions make the area attractive for large-scale computing and cloud
infrastructure. While these projects typically require significant capital investment but employ relatively
smaller permanent workforces,they represent meaningful additions to the local tax base and contribute
to the continued diversification of the Wichita Falls economy.
ii
CITY SERVICES AND ORGANIZATION OF THE GOVERNMENT
The City of Wichita Falls is a Council-Manager form of government organized under the Constitution and
Laws of the State of Texas.The City Council is comprised of five members elected from separate districts,
one member at large, and an elected Mayor. The City Council appoints the City Manager, City Attorney,
Municipal Court Judge, and City Clerk. All other staff members work under the direction of the City
Manager.
The City provides a full range of municipal services to the community.These services include public safety,
fire protection, public works, health and welfare, parks and recreation, cemeteries, library, public
improvement, engineering, planning and zoning, and general administrative services. As part of public
works services,the City provides water, sewer, and sanitation for its citizens.The City also provides a full
range of transportation options, including bus service, a regional and municipal airport, and a trolley.
All funds included within the Financial Section of this report are considered to be financially accountable
by the City and its elected and appointed officials. The financial statements of the City include all
governmental activities, business-type activities, organizations, and functions as required by generally
accepted accounting principles. The criteria considered in determining which activities are reported
include: the organization's legal status, appointment of the organization's boards, the City's ability to
impose its will on the organization,the ability to impose a financial benefit/burden on the City, and fiscal
dependency by the organization on the City. The criteria used by the City for including activities in
preparing its financial statements are in conformity with Governmental Accounting Standards Board
(GASB) Statement 14, "The Financial Reporting Entity," as amended by Statement 61.
The City promotes economic development efforts for the benefit of Wichita Falls. Under Chapter 312 of
the Texas Tax Code, the City is authorized to enter into Tax Abatement Agreements for commercial-
industrial and residential purposes. Three areas of the City are designated as Reinvestment Zones(#2,#3,
and #4) which capture increments of growth in real property values which are then used for public
improvements in the zoned area. The public improvements in these zones are expected to encourage
new commercial investment and revitalization of the targeted areas. The City also promotes economic
development through cooperation with the Wichita Falls Economic Development Corporation (4A) and
the Wichita Falls 4B Sales Tax Corporation which operate under the authority of Vernon's Civil Statutes,
Article 5190.6. The three reinvestment zones and the two economic development corporations are legally
separate entities from the City; however, the City is considered to be financially accountable for their
operations. These five entities are presented as Discretely Presented Component Units and more
information related to their finances can be found on pages 95-96.
FINANCIAL INFORMATION & FINANCIAL POLICY
A further discussion of the City's Financial Policies may be found in the Notes to the Basic Financial
Statements included in this document beginning on page 28.The City's financial direction begins with the
City's Charter, which is the basis for all financial policies the City implements.The City maintains financial
policies for general operations, which include policies for financial management and fund balances,
budget compliance, debt issuance and management, accounts payable, water service, and purchasing,
among others. Additional information about financial policies may be found in the City's Adopted
Operating Budget in the Policy Statement section.
iii
In developing and evaluating the City's accounting system, the City Manager considers the adequacy of
internal control as deemed appropriate. Internal control is designed to provide reasonable, but not
absolute, assurance regarding: (1) the safeguarding of assets against loss from unauthorized use or
disposition; and (2) the reliability of financial records for preparing financial statements and maintaining
accountability for assets.The concept of reasonable assurance recognizes that the cost of a control should
not exceed the benefits likely to be derived, and the evaluation of costs and benefits requires estimates
and judgments by the City Manager. The City believes that its internal control adequately safeguards
assets and provides reasonable assurance of proper recording of financial transactions.
The Annual Operating Budget is proposed by the City Manager and approved by the City Council following
public discussion. Budgetary control is maintained at the department, class, and fund level by the Finance
Department through the use of an integrated enterprise resource planning solution. All legally required
funds are budgeted annually. In instances when budgetary transfers are necessary, management control
of the operating budget is maintained at the fund and department level.A summary overview of the City's
budget process is presented in the graphic below.The process starts in March and concludes with Budget
Adoption in September.The City's fiscal year runs from October 1 to September 30.
Unencumbered appropriation balances lapse at year-end and are not carried forward to new budget
periods. Open encumbrances are reported as reservations of fund balance at September 30, 20245 and
related appropriations are carried forward to the new fiscal year through a supplemental budgetary
allocation.
The City has a fund balance policy in place for the General Fund, Water/Sewer Fund, and the Sanitation
Fund.The policy requires the City to maintain at least 20%of expenditures in unassigned fund balance in
each fund. If funds fall below these percentages, plans are created to replenish these funds. These
financial statements reflect that the policy has been followed in all three funds. The City also maintains
an informal policy to limit tax-supported debt to no more than 5% of total assessed property value or
$1,500 per capita.As of September 30, 2025,the current ratio of general bonded debt outstanding to the
assessed value of all taxable property is .30%.
The major governmental funds are the General Fund and the American Rescue Plan Act(ARPA) Fund. The
major enterprise funds are the Water and Sewer Fund, Sanitation Fund, and the Stormwater Fund. Of the
five major funds, ARPA is the only one that is not included in the annual budget appropriation. The
following table lists each of the funds appropriated as part of the annual operating budget.
iv
Funds Appropriated in the Annual Operating Budget
fund Fund Class 0=und Type
General Fund General Fund General Fund
Debt Service Fund Governmental Debt Service
Hotel/Motel fund Governmental Special Revenue
Venue Tax Fun Governmental Special Revenue
Water&Sewer Capital Fund Governmental Capital Fund
IV licrofiltration and Reverse Osmosis Fund Governmental Capital Fund
Lake Ringgold Fund Governmental Capital Fund
Community Development Block Grant Fund Governmental Special Revenue
Section 8 Housing Fund Governmental Special Revenue
HOME Fund Governmental Special Revenue
Transportation Planning Grant Fund Governmental Special Revenue
State Routine Airport Maintenance Fund Governmental Special Revenue
Community&Rural Health Fund Governmental Special Revenue
Community Clinical Linkage Grant Governmental Special Revenue
Epidemiology Grant Governmental Special Revenue
HIV Control&Prevention (TX Healthy Communities) Governmental Special Revenue
HHSC—Alzheimer's Governmental Special Revenue
Health Promo Disease Prevention Grant rund Governmental Special Revenue
Tuberculosis Gran# Governmental Special Revenue
Immunization Grant Program Fund Governmental Special Revenue
Women, Infants and Children(WIC)Fund Governmental Special Revenue
Water&Sewer Fund Proprietary Enterprise
Sanitation Fund Proprietary Enterprise
Regional Airport Fund Proprietary Enterprise
Kickapoo Airport Fund Proprietary Enterprise
Transit Fund Proprietary Enterprise
Storm Water Fund Proprietary Enterprise
Castaway Cove Waterpark Fund Proprietary Enterprise
Champions Golf Course Fund Proprietary Enterprise
Fleet Maintenance Fund Proprietary Internal Service Fund
Information Technology Fund Proprietary Internal Service Fund
GENERAL GOVERNMENT FUNCTIONS
The City's two largest revenue sources are property tax (ad valorem tax) and sales tax.The City Council is
responsible for adopting a tax rate annually. All eligible property within the City is subject to assessment,
levy, and collections of a continuing, direct ad valorem tax. The City Council works closely with City staff
to analyze and adopt rates that assist the City, the tax payer and the community at large. The following
discussion highlights the property and sales tax information for the next fiscal year.
As a reminder, the City may levy taxes only in accordance with the budget. The tax rate consists of two
components, the amount of taxes to pay maintenance and operation expenditures and the amount of
taxes to pay debt service (interest and sinking).The table below shows the total of each over the past five
years.The City's property tax rate during the 2025 fiscal year was 0.6848 cents per$100 of assessed value.
v
Property Tax Rate
Fiscal Year M&O I&S Total Rate $Change %Change
2021 0.722736 0.040587 0.763323 0.000 0.00%
2022 0.726565 0.034363 0.760928 -0.002 -0.31%
2023 0.661579 0.032742 0.694321 -0.067 -8.75%
2024 0.649853 0.030147 0.680000 -0.014 -2.06%
2025 0.658533 0.026267 0.684800 0.0048 0.71%
The adopted total tax rate is applied to the total Certified Value of the City to generate the total tax levy.
This year the City saw significant increases in the property values. For 2025, the property tax rate
generated approximately $51.1 million in revenues, of this amount $49.2 million was received into the
City's General Fund for general city operation. The property tax base for FY 2026 is $7.957 billion, which
is a 3.74%increase from the$7.671 billion tax base in FY 2025. Over the past five years,the City has seen
an average annual growth rate of 8%in property values.
Property Tax Values(in Billions)
$7.671 $7,958
$7.220
$6.596
$5.456 $5.808
FY 2021 FY2022 FY 2023 FY2024 FY2025 FY2025
The City receives 2.0%of the sales tax collected within City limits. During fiscal year 2025,the City collected
$31.6 million in sales taxes for general operations. The City ended the year with sales tax collections
approximately 2.92% higher than the prior year. These collections do not include the sales tax, which is
collected, and directed, to the City's discretely presented component units as those funds are voter-
approved for a specific and dedicated purpose outside of general city use.
In 1998, voters in Wichita Falls approved a %-cent economic development sales tax. The passage of the
sales tax for economic development created two separate corporations, the Wichita Falls Economic
Development Corporation (WFEDC), previously referred to as a 4A Corporation, and the 4B Sales Tax
Corporation. The WFEDC was created to fund industrial development projects, manufacturing, research,
and development. These funds may be used to fund military base realignment,job training classes, and
public transportation.The 4B Corporation may fund all projects the 4A Corporation may fund, in addition
to parks, museums, sports facilities, conference facilities and affordable housing opportunities. Sales tax
collected in accordance with the voter-approved %-cent economic development sales tax totaled
$10,517,810 and is divided evenly between the two separate sales and economic development
corporations for a total of$5,258,905 each.These corporations are discretely presented component units
of the City. A further discussion of component units may be found in the Notes to the Basic Financial
Statements, beginning on page 28 of this document.
vi
ARPA FUNDS
The City of Wichita Falls received $29,091,650 in American Rescue Plan Act Funds. The funds were
received in equal installments May of 2021 and in May of 2022. The City waited for final US Treasury
Guidance on expenditure of the funds to make final decisions regarding use. Following 3 public meetings,
the City Council approved a non-binding resolution as of June 14, 2022 which set forward their plan for
expenditure of the funds. ARPA funds have been spent for community development including$1,500,000
to nonprofit organizations, $250,000 to the Wichita Falls Alliance for Arts and Culture, and $100,000 to
the Helen Farabee Center. Expenditures also included $3,300,000 for Softball Complex Turf replacement
to help generate economic development through sports tourism. As of September 30, 2025, the ARPA
funds have generated$2,573,393.20 in interest income. On February 20, 2024,the City Council approved
a contract for the renovation of Memorial Auditorium with a total project cost of$19,089,745. The full
amount of funds received have been allocated to existing projects and the funds are on pace to be spent
by December 31, 2026.
MAJOR INITIATIVES FOR FISCAL YEAR 2025
The fiscal year 2026 budget reflects the City Council's continued commitment to maintaining essential
services and investing in the community despite ongoing economic pressures. While property values
continued to increase,the budget includes an adjustment to the City's property tax rate to ensure the City
can sustain service levels, address rising operational costs, and support long-term infrastructure needs.
The budget increased the property tax rate by 4.8 cents or 0.71% from 0.6800 to 0.6848. The budget
increased employee wages by 11% for Firefighters and 5%for everyone else. The budget also invested
over$31.4 million for infrastructure replacement and capital improvement projects. The budget also set
aside $4 million in excess General Fund Reserves for future capital projects.
STRATEGIC PLANNING
In December 2025,the City Council and City staff participated in a strategic workshop to begin developing
an updated Strategic Plan to guide the City's priorities and initiatives.The updated plan is currently being
finalized and will be released soon.
The previous Strategic Plan, adopted by the City Council on April 2, 2024, identified four key focus areas:
(1) Accelerate Economic Growth, (2) Provide Quality Infrastructure, (3) Actively Engage and Inform the
Public, and (4) Optimize Engagement with the City and City Services. The plan included 32 strategic
objectives designed to guide departmental initiatives and improve service delivery to the community.
Additional details on the prior strategic plan can be found on the City's website.
FY 2026 BUDGET HIGHLIGHTS
Adopted Operating Budget
The City's Operating Budget for the fiscal year ending September 30, 2026 (FY 2026) was adopted by the
City Council on September 2, 2025. Total revenues and expenditures across all funds were budgeted at
$264,507,106, representing an increase of $22,482,342, or 9.29%, from the prior year's budget. This
increase is primarily attributable to the use of Water and Sewer Bond Fund reserves to make the final
payments on Water System Improvement Bonds originally issued in 2001, as well as the use of previously
set aside reserves for public safety facilities. The budget also reflects increased personnel compensation
and higher capital expenditures to support infrastructure and operational needs.
vii
Revenues
Two of the primary sources of general revenue in the City's budget are property taxes and sales taxes,
which help fund many essential City services, including Police, Fire, and Public Health.
Property tax revenue is budgeted at$55,971,852 for FY 2026, representing a 4.17%increase over the prior
year. The increase is primarily attributable to higher property market values and new property added to
the tax base, partially offset by a slight decrease in the tax rate. For FY 2026, the City decreased the
property tax rate by 0.33%,from $0.6848 to $0.6825.
Sales tax revenue is budgeted at$30,903,921,which remains consistent with the previous year's budget.
The Water&Sewer,Sanitation,and Stormwater Funds receive the majority of their revenues from service
charges included on monthly utility bills. The FY 2026 budget includes a 2.0% increase in water, sewer,
and sanitation rates to support rising infrastructure costs and to maintain competitive salaries for utility
personnel.
FY 2024 FY 2025 FY 2026
FY 2023 FY 2024 FY 2025 VS FY
REVENUE SOURCE ADOPTED ADOPTED ADOPTED
ACTUAL ACTUAL 2026 IN VAR)
BUDGET BUD( ET BUDGET
PROPERTY TAXES 46,541,725 50,055,987 50,338,015 53,729,970 55,971,852 4.17%
SALES&USE TAXES 34,377,912 34,088,423 35,341,500 34,391,403 34,398,789 0.02%
FRANCHISE&UTILITY 6,152,096 5,804,751 5,908,934 6,362,10,5 6,356,375 -0.09%
W/S REVENUE 48,857,518 51,548,554 50,872,500 52,431,700 53,007,885 1.10%
SANITATION REVENUE 15,934,585 18,273,031 17,385,558 18,295,000 18,570,499 1.50%
STORM WATER REVENUE 3,755,577 3,767,887 3,700,000 3,700,000 3,700,OM 0.00%
GRANTS&CONTRIBUTIONS 17,145,769 14,228,158 14,359,355 15,687,542 15,814,722 0.81%
FINES 3,168,072 3,561,755 3,140,745 3,368,150 3,58,9,085 5.56%
FACILITY USE REVENUE 3,939,301 3,860,560 3,221,950 3,705,885 3,832,485 3.42%
PER MITS,LICENSES,FEES 2,057,635 1,373,504 1,967,800 2,222,918 2,051,107 -7.28%
PROGRAM REVENUE 4,352,340 3,966,946 3,615,085 4,065,410 4,075,617 0.25%
INTEREST REVENUE 5,417,252 5,719,602 4,493,877 5,444,000 5,128,548 -5.79%
MISC.REVENUES 7,994,731 5,977,805 4,450,865 4,312,532 4,431,499 2.75%
OPERATING REVENUES $200,694,755 $203,927,077 $198,496,285 $207,717,616 5210,938,464 1.55%
TRANSFERS IN 24,148,834 13,372,489 7,942,567 5,443,345 6,131,227 12.54%
INTERNAL SERVICE REV 18,323,921 20,158,513 20,150,858 19,305,510 21,071,138 5.86%
OTHER FIN.SOURCES - - 6,362,545 8,958,193 25,366,277 194.33%
TOTAL REVENUES 5243,167,509 5237,458,079 5232,952,356 $242,024,764 $264,507,106
Budget Expenditures
Personnel expenses make up the largest category of spending at 43% of total expenditures and are
budgeted at $114,857,989 for FY 2026, an increase of 3.98% from the prior year. This growth reflects
adjustments to maintain competitive compensation and support the City's workforce needs.
viii
FY 2024 FY 2025 FY 2026
FY 2023 FY 2024 FY 2025 VS FY
EXPENDITURES ADOPTED ADOPTED ADOPTED
ACTUAL ACTUAL 2026(%VAR)
BUDGET BUDGET BUDGET
PERSONNEL SERVICES 96,307,116 103,411,357 104,741,917 110,465,233 114,857,989 3.98%
SUPPLIES 14,726,381 13,358,250 15,838,944 16,133,920 16,993,048 5.32%
MAINTENANCE&REPAIR 10,296,703 10,578,728 10,378,043 10,534,680 10,954,563 3.99%
PURCHASED SERVICES 21,141,124 17,264,946 17,561,618 18,370,350 17,266,775 -6.01%
DEBT EXPENDITURES 7,637,889 18,191,764 21,442,183 21,411,219 22,084,720 3.15%
OTHER EXPENDITURES 6,756,625 7,531,200 7,781,682 8,626,719 9,179,026 6.40%
CAPITAL EXPENDITURES 28,875,932 24,945,856 30,041,703 31,410,348 45,872,571 46.04%
INTERNAL CHARGES 18,204,943 20,039,973 20,122,665 19,704,847 21,082,187 6.99%
TRANS=ERS OUT 7,342,291 4,328,979 5,043,602 5,367,447 6,216,227 15.81%
TOTAL EXPENDITURES $211,289,003 $219,651,053 $232,952,356 5 242,024,764 $264,507,106 9.29%
The City also invests in Capital Improvements, which include projects and assets that cost more than
$25,000 and have a useful life of more than one year. Capital Expenditures in FY 2026 total $45,872,571,
representing a 46.04% increase from the FY 2025 adopted budget, primarily reflecting planned
investments in major infrastructure and capital projects scheduled for the upcoming fiscal year.
Category Amount
Water and Sewer Projects $ 14,474,880
Building and Facilities 14,194,000
Vehicles and Wheeled Equipment 9,336,488
Roadways 4,500,000
Other Equipment 2,731,203
Other Improvements 636,000
Total $ 45,872,571
The Operating Budget can be found on the City's website.
INDEPENDENT AUDIT
The City Charter requires an annual audit of the books of account, financial records, and transactions of
all administrative departments of the City by Certified Public Accountants.The accounting firm of Edgin,
Parkman, Fleming & Fleming, PC was selected by the Mayor and City Council to satisfy this charter
requirement. The auditors' report on the basic financial statements and combining fund statements and
schedules is included in the financial section of this report. In addition to meeting the requirements set
forth in the City Charter,the audit also was designed to meet the requirements of the federal Single Audit
Act Amendments of 1996 and related Uniform Guidance and the State Single Audit Act.These reports are
issued under separate cover.
ix
AWARDS
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a
Certificate of Achievement for Excellence in Financial Reporting to the City of Wichita Falls for its Annual
Comprehensive Financial Report for the fiscal year ended September 30, 2024. This was the 30th
consecutive year that the City of Wichita Falls has achieved this prestigious award. In order to be awarded
this Certificate of Achievement, a government must publish an easily readable and efficiently organized
comprehensive annual financial report. This report must satisfy both generally accepted accounting
principles and applicable legal requirements. This Certificate of Achievement is valid for a period of one
year only. We believe that our current Annual Comprehensive Financial Report continues to meet the
Certificate of Achievement Program's requirements, and we are submitting it to GFOA to determine its
eligibility for another certificate.
The City has also earned the Distinguished Budget Award from the Government Finance Officers
Association of the United States and Canada for the past four years. As stated by GFOA, "This award
represents a significant achievement by the entity. It reflects the commitment of the governing body and
staff to meeting the highest principles of governmental budgeting. In order to receive the budget award,
the entity had to satisfy nationally recognized guidelines for effective budget presentation."
For the third year in a row, the City earned the Award for Outstanding Achievement in Popular Annual
Financial Reporting for its report for the fiscal year ended September 30, 2024. In order to receive an
Award for Outstanding Achievement in Popular Annual Financial Reporting, a government unit must
publish a Popular Annual Financial Report, whose contents conform to program standards of creativity,
presentation, understandability, and reader appeal. For the 2024 Fiscal Year,we have won all three GFOA
awards (Distinguished Budget Presentation Award, Certificate of Achievement for Excellence in Financial
Reporting, Popular Annual Financial Reporting Award). Organizations that win all three awards are
recognized as GFOA Triple Crown Winners.
-06
6D' Gr)
COA IAFR BUDGET
AWARD AWARD AWARD
X
The City of Wichita Falls is dedicated to increasing fiscal transparency. The City participates in the Texas
State Comptrollers Transparency Star program. The program recognizes government entities for going
above and beyond in their transparency efforts.The program has awarded the City of Wichita Falls 3 stars
for opening our books and providing information related to traditional finances,public pensions,and debt
obligations. We provide clear and meaningful financial information not only by posting financial
documents, but also through summaries,visualizations, and downloadable data. In October of 2024,the
Comptroller's office completed a review of the program and confirmed that we continue to meet the
criteria for this prestigious recognition.
/00.107r,„,„,*
/0000,„... *
01illh-
TRANSPARENCY TRANSPARENCY TRANSPARENCY
STAR/ STAR STAR./
�.. . /
Texas Comptroller Texas Comptroller Texas Comptroller
TRADITIONAL FINANCES DEBT OBLIGATIONS PUBLIC PENS6ONS
ACKNOWLEDGEMENTS
I am grateful to the Mayor, City Council, City Manager, City leaders and staff for their contributions to the
sound financial management of the City of Wichita Falls. We all work together to be good stewards of the
public funds that are in our care. I am especially grateful to the personnel of the Finance Department
whose work makes this report possible.
Respectfully submitted,
/ifi://L '111---------
Stephen Calvert, CPA, CPFO
Chief Financial Officer
xi
GD
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Wichita Falls Texas
For its Annual Comprehensive Financial
Report
For the Fiscal Year Ended
September 30, 2024
P
Executive Director/CEO
Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate
of Achievement for Excellence in Financial Reporting to the City of Wichita Falls for its annual
comprehensive financial report for the fiscal year ended September 30, 2024. This was the 30th
consecutive year that the government has achieved this prestigious award. In order to be awarded a
Certificate of Achievement, a government must publish an easily readable and efficiently organized
annual comprehensive financial report. This report must satisfy both generally accepted accounting
principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current annual
comprehensive financial report continues to meet the Certificate of Achievement Program's requirements
and we are submitting it to GFOA to determine its eligibility for another certificate.
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WICHITA FALLS CITY COUNCIL
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TIM SHORT
MAYOR
AUSTIN COBB WHITNEY FLACK ROBERT BROOKS
AT LARGE DISTRICT 1 DISTRICT 2
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JEFF BROWNING MIKE BATTAGLINO TOM TAYLOR
DISTRICT 3 DISTRICT 4 DISTRICT 5
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•
JEFFERY JENKINS
CITY MANAGER
CITY OF WICHITA FALLS
LIST OF PRINCIPAL OFFICIALS
MARCH 31, 2026
TITLE NAME
Mayor Tim Short
Councilor At Large Austin Cobb
District 1 Councilor Whitney Flack
District 2 Councilor Robert Brooks
District 3 Councilor Jeff Browning
District 4 Councilor and Mayor Pro Tem Mike Battaglino
District 5 Councilor Tom Taylor
City Manager Jeffrey Jenkins
City Attorney Kinley Hegglund
Municipal Court Judge Diane Dockery
City Clerk Marie Balthrop
Deputy City Manager James McKechnie
Assistant City Manager Paul Menzies
Assistant City Manager Blake Jurecek
Director of Human Resources Christi Klyn
Chief Financial Officer Stephen Calvert
Director of Public Health Amy Fagan
Interim Police Chief Scott Vaughn
Fire Chief Cody Melton
Director of Communications, Marketing, and MPEC Lindsay Lewis
Director of Public Works Russell Schreiber
Director of Engineering Tyson Traw
Director of Development Services Fabian Medellin
FINANCIAL SECTION
de EDGIN,UBLIC PARKMAN, FLEMING & FLEMING, PC
CERTIFIED P ACCOUNTANTS
MICHAEL D. EDGIN,CPA
1401 HOLLIDAY ST.,SUITE 216 • P.O.Box 750 DAVID L. PARKMAN,CPA
II WICHITA FALLS,TEXAS 76307-0750 A. PAUL FLEMING,CPA
PH.(940)766-5550 • FAX(940)766-5778 JOSHUA R. HARMAN,CPA
Independent Auditor's Report on Financial Statements
The Honorable Mayor and Members of the City Council
City of Wichita Falls, Texas
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, the aggregate discretely presented component units, each major fund, and the aggregate
remaining fund information of the City of Wichita Falls, Texas (the City) as of and for the year ended
September 30, 2025, and the related notes to the financial statements, which collectively comprise the
City's basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business-type activities, the aggregate
discretely presented component units, each major fund, and the aggregate remaining fund information of
the City as of September 30, 2025, and the respective changes in financial position, and, where applicable,
cash flows thereof for the year then ended in conformity with accounting principles generally accepted in the
United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Our responsibilities under those standards are further described in the Auditor's Responsibilities
for the Audit of the Financial Statements section of our report. We are required to be independent of the
City of Wichita Falls, Texas, and to meet our other ethical responsibilities, in accordance with the relevant
ethical requirements relating to our audit. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a
going concern for twelve months beyond the financial statement date, including any currently known
information that may raise substantial doubt shortly thereafter.
1
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing
standards will always detect a material misstatement when it exists. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.
In performing an audit in accordance with generally accepted auditing standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the City's internal control. Accordingly, no such opinion is
expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate,
that raise substantial doubt about the City's ability to continue as a going concern for a
reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control-related
matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management's
Discussion and Analysis, the Budgetary Comparison Schedule—General Fund, the schedules on the Texas
Municipal Retirement System, the Wichita Falls Firemen's Relief and Retirement Fund, and the Wichita
Falls Retiree Health Care Plan be presented to supplement the basic financial statements. Such
information, although not a part of the basic financial statements, is required by the Governmental
Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the
basic financial statements in an appropriate operational, economic, or historical context. We have applied
certain limited procedures to the required supplementary information in accordance with auditing standards
generally accepted in the United States of America, which consisted of inquiries of management about the
methods of preparing the information and comparing the information for consistency with management's
responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit
of the basic financial statements. We do not express an opinion or provide any assurance on the information
because the limited procedures do not provide us with sufficient evidence to express an opinion or provide
any assurance.
2
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City's basic financial statements. The introductory section, combining financial statements,
supporting schedules, and statistical section are presented for purposes of additional analysis and are not
a required part of the basic financial statements.
The combining financial statements and supporting schedules are the responsibility of management and
were derived from and relate directly to the underlying accounting and other records used to prepare the
financial statements. Such information has been subjected to the auditing procedures applied in the audit
of the basic financial statements and certain additional procedures, including comparing and reconciling
such information directly to the underlying accounting and other records used to prepare the basic
financial statements or to the basic financial statements themselves, and other additional procedures in
accordance with auditing standards generally accepted in the United States of America. In our opinion,
the combining financial statements and supporting schedules are fairly stated in all material respects in
relation to the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the
audit of the basic financial statements and, accordingly, we do not express an opinion or provide any
assurance on them.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued under separate cover our report
dated March 11, 2026, on our consideration of the City's internal control over financial reporting and on our
tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing and not to provide an opinion on the internal control
over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the City's internal control over financial
reporting and compliance.
Respectfully submitted,
•
edlil%IrPa4.144a.,,--4g1;4mt
Edgin, Parkman, Fleming & Fleming, PC
March 11, 2026
3
CITY OF WICHITA FALLS,TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
Management's discussion and analysis provides a narrative overview of the financial activities and
changes in the financial position of the City of Wichita Falls, Texas, for the fiscal year ended September
30, 2025. This narrative is presented in conjunction with additional information furnished in our letter of
transmittal,which is in the Introductory Section of this Annual Comprehensive Financial Report.
Financial Highlights
The net position of the City of Wichita Falls on September 30, 2025 was $560,529,545. The net position
represents the amount that assets and deferred outflows of the City of Wichita Falls exceeded its liabilities
and deferred inflows. The net position for the City increased by $27,284,129 over the prior year. This
increase is a result of an increase in net position of$17,580,637 from the current fiscal year business-type
activities and an increase in net position of $9,703,492 from the current fiscal year governmental
activities.
The unrestricted net position for Governmental Activities was ($74,388,150), while the Business-type
Activities had an unrestricted net position of $60,371,368, for an overall unrestricted net position of
($14,016,782). Governmental activities report a negative unrestricted net position primarily because
long-term liabilities, including pension, OPEB, and bonded debt obligations, are reported in the
government-wide statements while the capital assets associated with those obligations are reported in
net investment in capital assets category. Unrestricted net position for Governmental Activities decreased
by $6,044,546 from the prior year, while unrestricted net position for Business-type Activities increased
by$801,321 from the prior year.
At September 30, 2025, the City's governmental funds reported combined ending fund balances of
$70,911,623. Of this amount, $47,966,772, or 68%, is available for spending at the government's
discretion (unassigned fund balance). At the end of the current fiscal year, the unassigned fund balance
for the General Fund was $48,392,932 or 44% of total General Fund expenditures of $109,592,676.
Property tax and sales tax revenues continue to represent the City's largest governmental revenue
sources. Sales tax collections remained stable during the fiscal year, reflecting steady economic activity
within the City. Property tax revenues increased due to growth in assessed property values.
During Fiscal Year 2025, the City's outstanding debt decreased by $17,317,501, reflecting scheduled
principal repayments and the City's continued focus on reducing long-term obligations.The City had taken
steps to refinance debt in previous years as lower interest rates offered the opportunity to lower overall
debt payments. The City continues to maintain strong credit ratings, reflecting stable financial
management and adequate reserves. Additional information on the City's debt service may be found in
the Notes to the Basic Financial Statements.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City's basic financial statements.
The reporting focus is on the City as a whole and on individual major funds. It is intended to present a
comprehensive view of the City's financial activities. The basic financial statements are comprised of three
components: 1)government-wide financial statements, 2)fund financial statements, and 3) notes to the
financial statements. This report contains other supplementary information in addition to the basic
financial statements.
4
CITY OF WICHITA FALLS,TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
Government-wide Financial Statements
The government-wide financial statements,which can be found on pages 14-15 of this report, include the
Statement of Net Position (Exhibit A-1) and the Statement of Activities (Exhibit A-2). These statements
are designed to provide readers with a broad overview of the City's finances in a manner similar to a
private-sector business. Both are prepared using the economic resources focus and the accrual basis of
accounting, meaning that all current year's revenues and expenses are included regardless of when cash
is received or paid. Thus, revenues and expenses are reported in these statements for some items that
will result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but not used vacation
leave).
The Statement of Net Position presents information on all of the City's assets and liabilities, including
capital assets and long-term obligations. The difference between the City's assets and deferred outflows
and liabilities and deferred inflows is reported as net position. Over time, the increases or decreases in
net position may serve as a useful indicator of whether the financial position of the City is improving or
deteriorating. Other indicators of the City's financial position should be taken into consideration, such as
the change in the City's property tax base and condition of the City's infrastructure (e.g., roads, traffic
signals, water and sewer lines, etc.), in order to more accurately assess the overall financial condition of
the City.
The Statement of Activities presents information showing how the City's net position changed during the
most recent fiscal year. It focuses on both the gross and net costs of government services. This statement
includes all current year revenues and expenses.
The Statement of Net Position and the Statement of Activities divide the City's activities into three types:
Governmental activities—Most of the City's basic services are reported here, including police, fire, parks
and recreation, public works, health, traffic and transportation, community development and planning,
duplicating services, information technology, health insurance claims, and general administration and
finance. The Multi-Purpose Events Center and Champions Golf Course are also reported as governmental
activities. Property taxes, sales taxes, franchise fees, and various grant funds provide the majority of
financing for these activities.
Business-type activities—Activities for which the City charges fees to customers to pay most or all of the
cost of a service it provides are reported as business-type activities. The City's business-type activities
include water and wastewater treatment and distribution, solid waste collection and disposal, regional
and municipal airports, transit system, stormwater drainage improvements, fleet maintenance services,
and water park operations.
Component Units — Five legally separate organizations for which the City is financially accountable are
included in these statements as discretely presented component units. These organizations include the
Wichita Falls Economic Development Corporation, Wichita Falls 4B Sales Tax Corporation, Wichita Falls
Reinvestment Zone#2,Wichita Falls Reinvestment Zone#3, and the Wichita Falls Reinvestment Zone#4.
Fund Financial Statements
The City of Wichita Falls, like other state and local governments, uses fund accounting to provide more
detailed information about the City's most significant funds, not the City as a whole. A fund is a grouping
5
CITY OF WICHITA FALLS,TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
of related accounts that is used to maintain control over resources that have been segregated for specific
activities or objectives. Some funds are required to be established by state law or bond covenants.
However, the City Council establishes many other funds to help it control and manage money for
particular purposes or to show that it is meeting legal responsibilities. All of the funds of the City can be
divided into three categories:governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds—These funds are used to account for the majority of the City's activities, which are
essentially the same functions reported as governmental funds in the government-wide statements.
However, unlike the government-wide financial statements, governmental fund financial statements are
reported using an accounting method identified as the modified accrual basis of accounting, which
measures cash and all other financial assets that can be readily converted to cash. The governmental fund
statements focus on near-term inflows and outflows of expendable resources, as well as expendable
resources available at the end of the fiscal year for future spending. Such information may be useful in
evaluating a government's near-term financing requirements.
The focus of the governmental fund's financial statements is narrower than that of the government-wide
financial statements. Therefore, it is useful to compare the information presented for governmental funds
with similar information presented for governmental activities in the government-wide statements. By
doing so, readers may better understand the long-term impact of the government's short-term financing
decisions. Both the Governmental Fund Balance Sheet and the Governmental Fund Statement of
Revenues, Expenditures, and Changes in Fund Balances provide a reconciliation to facilitate this
comparison. The reconciliation explains the differences between the government's activities reported in
the governmentwide statements and the information presented in the governmental fund's financial
statements.
The City of Wichita Falls maintains 16 individual governmental funds. Information for the General Fund
and the American Rescue Plan Act Fund are presented separately in the Governmental Fund Balance Sheet
and in the Governmental Fund Statement of Revenues, Expenditures, and Changes in Fund Balances
because they are considered major funds of the City. Data for the other governmental funds are combined
into a single,aggregated presentation. Individual fund data for each of the non-major governmental funds
are provided in the Combining Financial Statement Section of this report.
The Basic Governmental Funds Financial Statements can be found on pages 16-20 of this report.
Proprietary Funds — When the City charges customers for services it provides, whether to outside
customers or to other units within the City,the activities are generally reported in proprietary funds. The
City of Wichita Falls maintains two different types of proprietary funds: enterprise funds and internal
service funds.
• Enterprise funds are used to report the same functions presented as business-type activities in
the government-wide financial statements. The City uses enterprise funds to account for its water
and sewer operations,sanitation collection and disposal services, regional and municipal airports,
transit operations, stormwater drainage improvements, and water park operations.
• Internal service funds are an accounting device used to report activities that provide supplies
and services to other City programs, such as fleet maintenance, print shop services, information
technology, and employee benefit trust. Because these services benefit both governmental and
6
CITY OF WICHITA FALLS,TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
business-type functions, they have been allocated between governmental and business-type
activities in the government-wide financial statements.
Proprietary fund financial statements provide the same type of information as the business-type activities
shown in the government-wide financial statements, only in more detail and include some of the internal
service fund-type activities. The proprietary fund financial statements provide separate information for
the Water and Sewer Fund,the Sanitation Fund, and the Regional Airport Fund since they are considered
major funds of the City. The non-major proprietary funds are combined into a single, aggregated
presentation in the proprietary fund financial statements. Individual fund data for each of the non-major
proprietary funds are provided in the Combining Financial Statement Section of this report.
Fiduciary Funds—Fiduciary funds are used to account for resources held for the benefit of parties outside
the government. Fiduciary funds are not reflected in the government-wide financial statements because
the resources of those funds are not available to support the City's own programs. The accounting
method used for fiduciary funds is much like that used for proprietary funds. Custodial funds are a
component of fiduciary funds and are used to account for situations where the City's role is purely
custodial, such as receipt,temporary investment, and remittance of fiduciary funds to individuals, private
organizations, or other governments. The City maintains one fiduciary fund. This fund is a custodial fund
used to account for property that has been abandoned or unclaimed pending escheatment to the State
of Texas.
Notes to the Financial Statements
The Notes to the Financial Statements provide additional information that is essential to a full
understanding of the data provided in the government-wide and fund financial statements. These notes
can be found on pages 28-69 of this report.
Government-Wide Financial Analysis
The City's combined net position was $560,529,545 as of September 30, 2025, and increase of
$27,284,129 or 4.9%from the prior year. The largest portion of the City's net position $545,978,627, or
97.4% is reflected in capital assets (land and improvements, buildings, infrastructure, machinery, and
equipment),less any related debt used to acquire those assets that is still outstanding. The City uses these
assets to provide services to its citizens; consequently, these capital assets are not available for future
spending. Although the City reports its capital assets net of related debt,the resources needed to repay
this debt must be provided from other sources since the capital assets themselves cannot be used to
liquidate these liabilities. An additional portion of the City's net position, $28,567,700 represents
resources that are subject to external restrictions on how they can be used.
7
CITY OF WICHITA FALLS,TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
Net Position
(in thousands)
Governmental Business-type
Activities Activities Total
2025 2024 2025 2024 2025 2024
Current and Other Assets $ 89,326 $100,697 $103,804 $100,718 $193,130 $201,415
Capital Assets 216,866 204,985 415,123 412,285 631,989 617,270
Total Assets 306,191 305,683 518,927 513,003 825,118 818,686
Deferred Outflows of Resources 20,594 48,100 4,727 10,495 25,321 58,596
Long Term Liabilities 150,904 167,224 88,880 103,877 239,784 271,101
Other Liabilities 16,547 26,377 6,530 5,793 23,077 32,169
Total Liabilities 167,451 193,601 95,410 109,669 262,861 303,270
Deferred Inflows of Resources 25,149 19,390 1,900 1,470 27,049 20,860
Net Position:
Net Investment in Capital Assets 193,428 178,715 352,551 336,375 545,979 515,090
Restricted 15,146 14,111 13,421 12,818 28,568 26,929
Unrestricted (74,388) (68,344) 60,371 59,570 (14,017) (8,774)
Total Net Position $134,186 $124,482 $426,344 $408,763 $560,530 $533,245
8
CITY OF WICHITA FALLS,TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
CHANGES IN NET POSITION
(in thousands)
Governmental Business-type Total
2024 2023 2024 2023 2024 2023
Revenues:
Program Revenues:
Charges for Services S12,500 5 11,675 5 81,294 5 80,461 5 93,794 S 92,136
Operating Grants and Contributions 20,064 18,749 3,434 2,347 23,498 21,096
Capital Grants and Contributions 9,325 3,689 1,178 1,107 10,503 4,797
General Revenues:
Property Taxes 53,736 50,166 53,736 50,166
Sales Taxes 31,553 30,657 31,553 30,657
Other Taxes/Fees 8,770 8,919 8,770 8,919
Investment Earnings 4,678 6,103 1,789 2,047 6,467 8,150
Miscellaneous 919 841 28 1 947 842
Total Revenue 141,545 130,800 87,724 85,963 229,269 216,763
Expenses:
Administrative Services 21,532 20,264 21,532 20,264
Police 36,027 31,203 36,027 31,203
Fire 27,003 25,483 27,003 25,483
Parks and Recreation 8,678 7,415 8,678 7,415
Accounting/Finance 2,460 1,109 2,460 1,109
Community Development 9,080 8,402 9,080 8,402
Public Works 10,765 10,628 10,765 10,628
Health 8,000 7,551 8,000 7,551
Traffic and Transportation 3,790 4,195 3,790 4,195
MPEC 5,952 5,177 5,952 5,177
Interest and Fees on Long-term Debt 1,102 1,215 1,102 1,215
Regional Airport 3,161 3,056 3,161 3,056
Kickapoo Airport 1,631 1,582 1,631 1,582
Transit 3,389 3,432 3,389 3,432
Sanitation 13,644 13,787 13,644 13,787
Water and Sewer 40,086 39,814 40,086 39,814
Stormwater Drainage 1,187 1,037 1,187 1,037
Waterpark 2.126 1.939 2.126 1939
Total Expenses 134.390 122.644 65.225 64.646 199.615 187.290
Increase in Net Position Before Transfers 7,155 8,156 22,499 21,317 29,654 29,473
Transfers 3.822 5.251 (3.822) (5.2511
Increase in Net Position 10,977 13,407 18.677 16,066 29,654 29,473
Net Position-Beginning,original 124,489 111,464 408,751 392,697 533,239 504,161
Restatement (1,279) (383) (1,084) (12) (2,363) (395)
Net Position-End of Year,Restated 134,186 5 124,489 5426,344 5 408,751 5 560,530 5533,239
9
CITY OF WICHITA FALLS,TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
Governmental Activities—Governmental Activities increased the City's net position by$10,976,725. The
increase in net position in the Governmental Activities is due to debt payments which lowered long-term
liabilities, and new capital investments including the construction in progress for the City Hall Renovation.
Business-Type Activities— Business-type Activities increased the City's net position by $18,676,847. This
increase is primarily due to debt payments which lowered long-term liabilities.
Financial Analysis of the City's Funds
Governmental Funds — The focus of the governmental funds is to provide information on near-term
inflows,outflows,and balances of expendable resources. Such information is useful in assessing the City's
financing requirements. In particular, unassigned fund balance may serve as a useful measure of a
government's net resources available for spending at the end of the fiscal year. As of September 30, 2025,
the City's governmental funds reported combined fund balances of$70,911,623, which is a decrease of
$1,260,857. The General Fund is the chief operating fund of the City. At the end of the current fiscal year,
the unassigned fund balance of the General Fund was $48,392,932 a decrease of $2,039,761 from the
prior year. As a measure of the General Fund's liquidity, it may be useful to compare both the unassigned
fund balance and total fund balance to total fund expenditures. Unassigned fund balance represents 44%
of total General Fund expenditures, while the total fund balance represents 45% of total General Fund
expenditures. The decrease in net position in the Governmental Funds is due to the one time use of excess
fund balance for capital improvement projects including turf at the Sports Complex.
The City received a total of$29.1 million in American Rescue Plan Act funds.These funds were used for a
variety of projects that address health, safety,tourism and benefits to the non-profit community.On June
14, 2022 the City Council adopted a non-binding resolution showing their support for a variety of projects
for which the funds will be used. ARPA funds have been spent for community development including
$1,500,000 to nonprofit organizations, $250,000 to the Wichita Falls Alliance for Arts and Culture, and
$100,000 to the Helen Farabee Center. Expenditures also included $3,300,000 for Softball Complex Turf
replacement to help generate economic development through sports tourism. On February 20, 2024,the
City Council approved a contract for the renovation of Memorial Auditorium with a total project cost of
$19,089,745. Renovations are anticipated completed in 2026. As of September 30, 2025,the ARPA funds
have generated $2,573,393 in interest income.
Proprietary Funds—The financial statements of the proprietary funds provide information for two types
of funds: the business type (enterprise) funds and the internal service funds. The accounting principles
applied to proprietary funds are similar to that of the private sector. Consequently,with the exception of
the allocation of internal service fund net income or loss,the net position and changes in net position of
the enterprise funds in these financial statements are identical with the net position and changes in net
position reflected in the business-type activities in the city-wide presentation.
The City's internal service funds include the Fleet Maintenance Fund, Employee Benefit Trust Fund,
Duplicating Services Fund,and the Information Technology Fund. At the close of September 30, 2025,the
net position for the City's internal service funds was$59,087,057, an increase of$5,728,648. This change
is due to transfers into the Fleet Maintenance fund for new heavy machinery.
10
CITY OF WICHITA FALLS,TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
General Fund Budgetary Highlights
The final amended expenditure budget for the General Fund, including transfers out, was increased by
$7,892,491 from the original fiscal year 2024 adopted budget. This increase was primarily due to the
carry-forward of capital expenditures from the prior year.
Revenues in the General Fund for the Fiscal Year 2025 were $105,984,634, which was $1,252,223 less
than final budgeted revenues. Budgeted revenues anticipated the one-time use of fund balance for
capital projects including the replacement of Sports Complex turf.
Capital Assets and Debt Administration
Capital Assets-The City's investment in capital assets for its governmental and business-type activities
as of September 30, 2025 was$631,988,594(net of accumulated depreciation). This investment in capital
assets includes land, buildings, equipment, infrastructure, and construction in progress.
Major capital investments during the fiscal year focused on maintaining and improving critical
infrastructure and facilities used to provide services to residents.
• Water and Sewer Line Replacements
• Quail Creek Drainage Improvements
• Street Rehab and Improvements
• Memorial Auditorium Renovations from ARPA Funds
• Motor Vehicle Fleet Replacements
Additional information on the City's capital assets can be found in Note 7 in the Notes to the Financial
Statements section of this report.
Capital Assets,Net of Accumulated Depreciation
(in thousands)
Governmental Activities Business-type Activities Total
2025 2024 2025 2024 2025 2024
Land $ 11,915 $ 11,903 $ 11,072 $ 11,072 $ 22,987 $ 22,976
Land Betterments 21,871 19,172 30,445 31,849 52,317 51,020
Buildings,Systems&Improvements 43,894 45,352 320,987 319,687 364,881 365,039
Infrastructure 110,296 112,582 1,212 1,230 111,509 113,811
Machinery and Equipment 8,530 9,244 4,255 2,712 12,785 11,957
Subscription assets 362 558 - - 362 558
Motor Vehicles - - 37,424 32,716 37,424 32,716
Right-to-use leased assets 934 - 2,050 2,112 2,983 2,112
Construction in Progress 19,063 6,175 7,678 10,906 26,741 17,081
Totals $216,866 $ 204,985 $415,123 $ 412,285 $631,989 $617,270
Long Term Debt- As of September 30, 2025, the City had total bonded debt, notes, and capital leases
outstanding of$98,543,580. During the fiscal year,the City's total debt decreased by$17,317,501. As of
11
CITY OF WICHITA FALLS,TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
September 30, 2025, Moody's Investor's Service had assigned a credit rating of Aa2 for the City's General
Obligation Bonds and a rating of A3 for the City's Water and Sewer System Revenue Bonds. Standard &
Poor's had assigned a credit rating of AA for the City's General Obligation Bonds and a rating of A+for its
Water and Sewer System Revenue Bonds.
Outstanding Debt at Year End!
(in thousands)
Governmental :3Jsiness-type Total
2025 2024 2025 2024 2025 2024
General Obligation Bonds $ 18,331 $21,238 $ 4,744 $ 5,102 $23,075 $ 26,340
Combination Tax&Revenue Bonds 9,455 10,485 24,565 26,220 34,020 36,705
Venue Tax Revenue Bonds 2,425 2,480 - - 2,425 2,480
Utility System Revenue Bonds - - 12,140 21,415 12,140 21,415
Premiums on Bonds 789 961 425 1,031 1,214 1,992
Notes Payable 2,084 2,251 19,550 21,295 21,634 23,546
Subscription Liabilities 389 563 - - 389 563
Right-To-Use Leases 857 - 2,788 2,819 3,645 2,819
$ 34,330 $37,978 $64,213 $77,882 $98,543 $115,860
The City is permitted by its Home Rule Charter to levy taxes up to $2.25 per $100 of assessed valuation
for general governmental services, including the payment of principal and interest on long-term debt. The
combined tax rate to finance general governmental services for the year ended September 30, 2025,was
$.6848 per$100 which means that the City has a tax margin of$1.57 per$100, and could generate up to
$119,732,595 additional tax revenue a year from the present assessed valuation of$7,649,667,455 before
the limit is reached. The current ratio of general bonded debt outstanding to the assessed value of all
taxable property is .30%.Additional information about the City's long-term debt can be found in Note 12
in the Notes to the Financial Statements section of this report.
Economic Factors and Next Year's Budget and Rates
The total operating budget for the City includes all expenditures, revenues, and transfers anticipated in
the coming year. This includes expenditures for items funded outside of the City, like federal grants for
large capital projects and funds for programs received from other sources. The fiscal year 2026 budget
decreased the property tax rate by 0.3%from .6848 to .6825. The total Adopted Operating Budget for
Fiscal Year 2026 is $264,507,106 which is an increase of$22,482,342 or 9.29%from the Fiscal Year 2025
Budget of $242,024,764. This increase is primarily due to the use of excess general fund reserves for
capital projects. It committed over $45 million to infrastructure replacement and capital improvement
projects.
The 2026 budget also included significant increases in personnel costs to help maintain competitive
compensation levels. A collective bargaining agreement with the Fire Department included a 10% pay
increase for civil service fire personnel for FY 2026 and a meet and confer agreement with the Police
12
CITY OF WICHITA FALLS,TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
Department included an 8% increase for civil service police personnel for FY 2026. A cost-of-living
adjustment for all other qualified city employees was 6%.
The entire budget may be found on the City's website at www.wichitafallstx.gov.
Moving forward into the FY 2026 budget year, the City continues to monitor forecasts of key economic
indicators. Sales tax revenue have increased by 2.8%for the 12-month period through February. Property
values are anticipated to increase by 4% in the coming year and interest rates are expected to decline as
the Federal Reserve projects that it will continue to reduce interest rates. The City anticipates economic
development including the development of data centers to have a positive impact on sales tax and
property taxes in the coming years. The City has strong reserves and an eye to the future as staff will work
to pursue the vision laid out in Strategic Plan.
Requests for Information
This financial report is designed to provide a general overview of the finances of the City of Wichita Falls
for all those with an interest in the government's finances. Questions concerning any of the information
provided in this report, or request for additional financial information, should be addressed to the City
Finance Department, 1300 Seventh Street, Wichita Falls,Texas 76301.
13
BASIC FINANCIAL STATEMENTS
EXHIBIT A-1
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF NET POSITION
SEPTEMBER 30,2025
Primary Government
Governmental Business-type Component
Activities Activities Total Units
Assets
Cash and cash equivalents $ 64,149,026 $ 57,750,616 $ 121,899,642 $ 40,820,815
Investments 7,101,624 - 7,101,624 -
Receivables(net):
Taxes and assessments 1,542,831 - 1,542,831 -
Customer and trade - 9,354,584 9,354,584
Government agencies 12,340,914 618,800 12,959,714 1,871,331
Other 2,513,460 589,096 3,102,556 1,205,229
Internal balances (15,196,597) 15,196,597 - -
Inventory 945,773 2,625,108 3,570,881 -
Prepaid items 713,741 508,077 1,221,818 -
Other assets 31,191 340,398 371,589 -
Restricted assets:
Cash and cash equivalents 15,183,894 16,820,663 32,004,557 -
Capital assets not being depreciated 30,978,217 18,750,161 49,728,378 2,517,331
Capital assets net of accumulated depreciation 185,887,362 396,372,854 582,260,216 26,173,441
Total assets 306,191,436 518,926,954 825,118,390 72,588,147
Deferred Outflows of Resources
Pension-related 18,410,580 2,967,642 21,378,222 -
OPEB-related 2,146,127 774,568 2,920,695 -
Deferred losses on bond refundings 37,444 984,930 1,022,374 -
Total deferred outflows of resources 20,594,151 4,727,140 25,321,291 -
Liabilities
Accounts payable-trade 2,409,152 1,641,702 4,050,854 63,750
Accrued payroll 2,532,456 682,451 3,214,907 -
Accrued interest payable 139,495 148,972 288,467 -
Payable to government agencies 686,114 121,989 808,103 -
Estimated health claims payable 1,106,819 - 1,106,819 -
Other liabilities 4,556,466 508,604 5,065,070 1,894
Unearned revenue 5,116,403 - 5,116,403 -
Customer deposits 3,426,722 3,426,722 -
Long-term liabilities:
Portion due or payable within one year 7,761,119 13,945,051 21,706,170 680,000
Portion due or payable after one year 41,630,584 60,027,759 101,658,343 25,563,810
Net pension liability(payable after one year) 92,506,536 11,656,859 104,163,395 -
Net OPEB liability(payable after one year) 9,005,791 3,250,321 12,256,112 Total liabilities 167,450,935 95,410,430 262,861,365 26,309,454
Deferred Inflows of Resources
Pension-related 23,011,173 1,128,646 24,139,819 -
OPEB-related 2,137,498 771,454 2,908,952 -
Total deferred inflows of resources 25,148,671 1,900,100 27,048,771 -
Net Position
Net investment in capital assets 193,427,811 352,550,816 545,978,627 2,343,617
Restricted for:
Perpetual care(nonexpendable) 2,401,616 •
2,401,616 -
Debt service(expendable) 1,885,240 13,421,380 15,306,620 -
Federal grant programs(expendable) 8,893,595 - 8,893,595 -.
Tourism(expendable) 1,965,869 - 1,965,869 -
Unrestricted (74,388,150) 60,371,368 (14,016,782) 43,935,076
Total net position $ 134,185,981 $ 426,343,564 $ 560,529,545 $ 46,278,693
See accompanying notes to the basic financial statements.
14
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30,2025
Program Revenues
Operating
Charges for Grants and
Functions/Programs Expenses Services Contributions
Primary government:
Governmental activities:
Administrative services $ 21,531,912 $ 2,540,887 $ 2,385,824
Police 36,027,347 321,378 417,976
Fire 27,002,868 114,372 1,131,768
Parks and recreation 8,678,216 526,398 325,282
Accounting/finance 2,460,135 3,360,452 -
Development services 9,080,011 2,163,757 6,689,736
Public works 10,765,228 3,853 866,058
Health 8,000,124 1,148,117 3,180,022
Traffic and transportation 3,790,321 143,909 3,360,539
Multi-Purpose Events Center 5,951,703 2,176,851 124,852
Interest and fees on long-term debt 1,102,345 - 1,581,843
Total governmental activities 134,390,210 12,499,974 20,063,900
Business-type activities:
Regional Airport 3,160,887 1,963,306 -
Kickapoo Airport 1,631,043 1,139,913 -
Transit 3,388,581 555,407 3,434,358
Sanitation 13,644,374 19,505,325
Water and sewer 40,086,491 52,568,389 -
Stormwater drainage 1,187,465 3,791,664 -
Waterpark 2,126,250 1,770,189
Total business-type activities 65,225,091 81,294,193 3,434,353
Total primary government $ 199,615,301 $ 93,794,167 23,i98,258
Component units:
Community development $ 17,578,660 $ - $ 719,047
General revenues and transfers:
Taxes:
Property tax
Sales tax
Franchise fees
Hotel occupancy tax
Beverage tax
Investment earnings
Miscellaneous
Transfers
Total general revenues and transfers
Change in net position
Net position-beginning,as originally stated
Error correction
Change in accounting principle
Net position-beginning,as restated
Net position-ending
See accompanying notes to the basic financial statements.
15
EXHIBIT A-2
Net(Expense)Revenue and
Changes in Net Position
Capital Primary Government
Grants and Governmental Business-type Component
Contributions Activities Activities Total Units
$ 9,324,931 $ (7,280,270) $ - $ (7,280,270) $ -
(35,287,993) (35,287,993) -
(25,756,728) - (25,756,728) -
(7,826,536) •
(7,826,536) -
900,317 - 900,317 -
(226,518) - (226,518)
(9,895,317) •
(9,895,317) -
(3,671,985) (3,671,985)- (285,873) - (285,873)- (3,650,000) (3,650,000)- 479,498 479,498 -
9,324,931 (92,501,405) (92,501,405) -
- - (1,197,581) (1,197,581)
-
(491,130) (491,130)- - 601,184 601,184- 5,860,951 5,860,951 -
1,178,123 13,660,021 13,660,021
- - 2,604,199 2,604,199- - (356,061) (356,061) -
1,178,123 20,681,583 20,681,583
$ 10,503,054 (92,501,405) 20,681,583 (71,819,822)
$ - (16,859,613)
53,736,357 - 53,736,357 1,421,186
31,552,997 - 31,552,997 10,517,810
5,601,741 5,601,741 -
2,804,065 2,804,065 364,368 364,368 -
4,677,595 1,789,073 6,466,668 2,228,553
919,192 28,006 947,198 1,791,691
3,821,815 (3,821,815) - -
103,478,130 (2,004,736) 101,473,394 15,959,240
10,976,725 18,676,847 29,653,572 (900,373)
124,488,525 408,750,842 533,239,367 47,179,066
(154,954) - (154,954) -
(1,124,315) (1,084,125) (2,208,440) -
123,209,256 407,666,717 530,875,973 47,179,066
$ 134,185,981 $ 426,343,564 $ 560,529,545 $ 46,278,693
EXHIBIT A-3
CITY OF WICHITA FALLS, TEXAS
BALANCE SHEET-GOVERNMENTAL FUNDS
SEPTEMBER 30, 2025
Nonmajor Total
General ARPA Governmental Governmental
Fund Fund Funds Funds
Assets
Cash and cash equivalents $ 34,752,031 $ 8,632,161 $ 17,204,317 $ 60,588,509
Investments 7,101,624 - - 7,101,624
Receivables(net):
Taxes and assessments 1,281,485 261,346 1,542,831
Other City funds 7,213,321 - 7,213,321
Government agencies 5,941,466 6,399,448 12,340,914
Other 2,244,342 - 258,216 2,502,558
Inventory 910,265 35,181 945,446
Prepaid items 14,492 - 698,804 713,296
Other assets 1,000 - 30,191 31,191
Total assets $ 59,460,026 $ 8,632,161 $ 24,887,503 $ 92,979,690
Liabilities
Accounts payable $ 850,237 $ 879,653 $ 598,563 $ 2,328,453
Accrued payroll 2,304,376 - 173,992 2,478,368
Payable to other City funds •
- 3,918,151 3,918,151
Payable to government agencies 597,043 89,071 686,114
Other liabilities 3,459,401 618,355 460,484 4,538,240
Claims and judgments payable 11,922 - - 11,922
Unearned revenue 5,038,358 78,045 5,116,403
Total liabilities 7,222,979 6,536,366 5,318,306 19,077,651
Deferred inflows of resources
Unavailable revenues 2,919,358 - 71,058 2,990,416
Fund balances
Nonspendable:
Inventory and prepaid items 924,757 - 729,778 1,654,535
Permanent Fund principal - - 2,401,616 2,401,616
Restricted for:
Debt service - 1,814,182 1,814,182
Capital projects - - 2,148,869 2,148,869
Federal and state grant programs - 2,095,795 6,797,800 8,893,595
Tourism - - 1,965,869 1,965,869
Committed for:
Local projects - 4,066,185 4,066,185
Unassigned 48,392,932 - (426,160) 47,966,772
Total fund balances 49,317,689 2,095,795 19,498,139 70,911,623
Total liabilities,deferred inflows of resources
and fund balances $ 59,460,026 $ 8,632,161 $ 24,887,503 $ 92,979,690
See accompanying notes to the basic financial statements.
16
EXHIBIT A-4
CITY OF WICHITA FALLS, TEXAS
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET
TO THE STATEMENT OF NET POSITION
SEPTEMBER 30,2025
Total fund balances-governmental funds(Exhibit A-3) $ 70,911,624
Amounts reported for governmental activities in the Statement of Net Position(Exhibit A-1)
are different because:
Capital assets used in governmental activities are not financial resources and therefore not
reported in the funds.Capital assets at year-end consist of:
Gross capital assets $ 404,962,247
Related accumulated depreciation 194,292,447 210,669,800
Property taxes receivable and municipal court fines are not available to pay for current
period expenditures and therefore are reported as deferred inflows of resources in the funds. 2,990,416
Long-term liabilities are not due and payable in the current period and therefore
not reported as liabilities in the funds.Long-term liabilities at year-end consist of:
Bonds payable 30,210,584
Premiums on bonds payable 788,855
Notes payable 2,084,079
Right-to-use lease payable 857,278
Subscription liabilities 154,313
Accrued vacation and sick leave 14,155,491
Claims and judgments payable 710,917
Accrued interest 139,495 (49,101,012)
In the governmental funds financial statements,refunding losses are expended when
incurred,whereas in the government-wide financial statements the losses are capitalized
and amortized. 37,444
The City's net pension liability and related deferred outflows and inflows related to its
participation in the Texas Municipal Retirement System and the Wichita Falls Firemen's
Relief and Retirement Fund do not meet criteria to be reported in the governmental funds
financial statements.These items consist of:
Net pension liabilities 91,723,556
Deferred outflows-pension related items (18,211,247)
Deferred inflows-pension related items 22,935,363 (96,447,672)
The City's net OPEB liability and related deferred outflows and inflows related to the City
of Wichita Falls Retiree Health Care Plan do not meet the criteria to be reported in the
governmental funds financial statements.These items consist of:
Net OPEB liabilities 8,869,748
Deferred outflows-OPEB related items (2,113,708)
Deferred inflows-OPEB related items 2,105,209 (8,861,249)
Internal service funds are used by management to charge the costs of duplicating services,
information technology and health insurance claims to the individual funds.The assets and
liabilities of these internal service funds are included with the governmental activities. 22,212,108
Internal service funds are used by management to charge the costs of central garage
services to the individual funds.The assets and liabilities of this fund are included with the
business-type activities. This amount represents the governmental activity portion
of the central garage activity. (18,225,478)
Total net position-governmental activities(Exhibit A-1) $ 134,185,981
See accompanying notes to the basic financial statements.
17
EXHIBIT A-5
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN
FUND BALANCES-GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2025
Nonmajor Total
General ARPA Governmental Governmental
Fund Fund Funds Funds
Revenues
Taxes $ 89,279,117 $ - $ 4,701,132 $ 93,980,249
Charges for services 3,364,511 666,415 4,030,926
Licenses and permits 1,896,041 - 1,896,041
Fines and forfeitures 3,338,437 290,272 3,628,709
Intergovernmental revenue - 10,524,112 12,897,187 23,421,299
Contributions 2,419,531 - 3,548,001 5,967,532
Miscellaneous revenue 5,686,997 477,598 4,191,489 10,356,084
Total revenues 105,984,634 11,001,710 26,294,496 143,280,840
Expenditures
Current:
Administrative services 17,462,015 10,354,038 2,384,445 30,200,498
Police 35,131,158 - 250,827 35,381,985
Fire 23,782,573 862,375 24,644,948
Parks and recreation 11,550,440 - 401,478 11,951,918
Accounting/finance 2,440,324 - - 2,440,324
Development services 2,700,080 6,384,594 9,084,674
Public works 9,693,911 - 12,166 9,706,077
Health 4,485,027 21,150 3,479,831 7,986,008
Traffic and transportation 2,347,148 536,670 905,990 3,789,808
Multi-Purpose Events Center 89,852 4,619,391 4,709,243
Capital outlay 1,433,457 1,433,457
Debt service:
Principal retirement - 3,992,544 3,992,544
Interest and paying agent fees 1,277,302 1,277,302
Total expenditures 109,592,676 11,001,710 26,004,400 146,598,786
Excess of revenues over(under)expenditures (3,608,042) - 290,096 (3,317,946)
Other Financing Sources(Uses)
Transfers in 3,336,691 - 2,243,283 5,579,974
Transfers out (1,265,714) - (2,251,134) (3,516,848)
Total other financing sources(uses) 2,070,977 (7,851) 2,063,126
Net change in fund balance (1,537,065) 282,245 (1,254,820)
Fund balance-beginning 50,854,754 2,095,795 19,215,894 72,166,443
Fund balances-ending $ 49,317,689 $ 2,095,795 $ 19,498,139 7 70,911,623
See accompanying notes to the basic financial statements.
18
EXHIBIT A-6
(Page 1 of 2)
CITY OF WICHITA FALLS, TEXAS
RECONCILIATION OF THE STATEMENT OF REVENUES,EXPENDITURES
AND CHANGES IN FUND BALANCES OF THE GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30,2025
Net change in fund balances-total governmental funds(Exhibit A-5) $ (1,254,820)
Amounts reported for governmental activities in the Statement of Activities(Exhibit A-2)are different because:
Capital outlays are reported in governmental funds as expenditures.However,in the
Statement of Activities,the cost of those assets are allocated over their estimated useful
lives as depreciation expense.The net difference between the two is as follows:
Capital outlay during the year $ 20,973,333
Depreciation expense for the year 9,024,934 11,948,399
Because property tax receivables and municipal court receivables will not be collected
for several months after the City's fiscal year ends,they are not considered 'available'revenues
and are deferred in the governmental funds.Deferred inflows increased by this amount this year 141,977
Repayment of long-term debt principal is an expenditure in the governmental funds,but the
repayment reduces long-term liabilities in the Statement of Net Position.Principal payments
in 2024-2025 were: 4,685,550
Included in long-term debt are obligations for accrued vacation and sick leave,and claims and
judgments payable. The changes in these obligations are not included in the governmental func
financial statements,but are included in the government-wide financial statements.The changes
in these long-term obligations were:
Accrued vacation and sick leave (1,087,004)
Claims and judgments payable 39,818 (1,047,186)
Interest on long-term debt in the Statement of Activities differs from the amount reported in the
governmental funds because interest is recognized as an expenditure in the funds when it is due,
and thus requires the use of current financial resources.In the Statement of Activities,however,
interest expense is recognized as the interest accrues,regardless of when it is due.ThE
decrease in accrued interest is as follows:
Accrued interest at September 30,2024 162,596
Accrued interest at September 30,2025 139,495 23,101
Amortization of deferred losses on refundings is only reported in the government-wide
financial statements.Current year amortization was: (50,285)
The City participates in two defined benefit pension plans.Contributions to the plans are expenditure!
at the fund level when payments are due.At the government-wide level,pension expenses arE
recognized on an actuarial basis.Payments were more than the actuarial expense in the current year. (1,417,705)
The City sponsors an OPEB plan for retiree health care.Contributions to the plan are expenditures at
the fund level when payments are due.At the government-wide level,pension expenses arE
recognized on an actuarial basis.Payments were more than the actuarial expense in the current year. (663,322)
See accompanying notes to the basic financial statements.
19
EXHIBIT A-6
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
RECONCILIATION OF THE STATEMENT OF REVENUES,EXPENDITURES
AND CHANGES IN FUND BALANCES OF THE GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30,2025
Internal service funds are used by management to charge the costs of duplicating services,
information technology and health insurance claims to the individual funds.The net
revenues of these internal service funds are included with the governmental activities. (985,804)
Internal service funds are used by management to charge the costs of central garage services to the
individual funds.The net revenue of this fund is included with the business-type activities.This
amount represents the governmental activity portion of the central garage activity. (403,180)
Change in net position of governmental activities(Exhibit A-2) $ 10,976,725
See accompanying notes to the basic financial statements.
20
EXHIBIT A-7
(Page 1 of 2)
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30,2025
Enterprise Funds
Stormwater Nonmajor
Water and Sanitation Drainage Enterprise Internal
Sewer Fund Fund Fund Funds Total Service Funds
Assets
Current assets:
Cash and cash equivalents $ 24,183,826 $ 14,700,450 $ 11,318,173 $ 535,084 $ 50,737,533 $ 10,573,600
Restricted cash and cash equivalents 14,216,141 - - 2,604,521 16,820,662 15,183,894
Receivables(net):
Customer and trade 6,796,818 2,161,338 396,428 9,354,584 -
Government agencies 71,859 - 546,941 618,800 -
Other 509,246 19,978 - 59,281 588,505 11,493
Inventory 1,798,024 - . 178,753 1,976,777 648,331
Prepaid items - - - 29,827 29,827 479,022
Other assets - - 340,398 340,398
Total current assets 47,575,914 16,881,766 11,714,601 4,294,805 80,467,086 26,896,340
Long-term assets:
Capital assets,net of accumulated
depreciation 257,588,669 10,836,878 35,347,540 72,033,629 375,806,716 45,512,078
Total long-term assets 257,588,669 10,836,878 35,347,540 72,033,629 375,806,716 45,512,078
Total assets 305,164,583 27,718,644 47,062,141 76,328,434 456,273,802 72,408,418
Deferred Outflows of Resources
Pension-related 1,631,208 682,512 54,320 320,222 2,688,262 478,713
OPEB-related 457,965 172,613 11,391 59,582 701,551 105,436
Deferred losses on bond refundings 984,930 - -
- 984,930 -
Total deferred outflows of resources 3,074,103 855,125 65,711 379,804 4,374,743 584,149
See accompanying notes to the basic financial statements.
21
EXHIBIT A-7
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30,2025
Enterprise Funds
Stormwater Nonmajor
Water and Sanitation Drainage Enterprise Internal
Sewer Fund Fund Fund Funds Total Service Funds
Liabilities
Current liabilities:
Accounts payable-trade 522,469 18,737 415,953 147,183 1,104,342 618,059
Accrued payroll 366,090 156,479 12,705 87,081 622,355 114,184
Accrued vacation and sick leave 1,105,843 469,674 46,067 270,393 1,891,977 369,911
Payable to other City funds - - - 2,832,887 2,832,887 462,283
Payable to government agencies 4 121,972 - 13 121,989 -
Estimated health claims payable - - - - 1,106,819
Other liabilities 13,907 69,853 266,681 158,163 508,604 18,227
Right-to-use leases-current maturities - - 33,400 33,400 -
Notes payable-current maturities 906,820 - - - 906,820 865,777
Bonds payable-current maturities 11,464,054 - - - 11,464,054 -
Subscription liabilities-current maturities - - - 119,200
Accrued interest-revenue bonds 148,972 - - - 148,972 -
Total current liabilities 14,528,159 836,715 741,406 3,529,120 19,635,400 3,674,460
Long-term liabilities:
Right-to-use leases,less current maturities - - - 2,754,765 2,754,765 -
Notes payable,less current maturities 10,271,674 - - - 10,271,674 7,505,693
Bonds payable,less current maturities 30,410,632 - • - 30,410,632 -
Subscription liabilities,less current maturities - - - - - 115,457
Estimated liability for landfill closure and
post-closure care costs - 7,681,714 - - 7,681,714 -
Customer deposits 3,426,722 - - - 3,426,722 -
Net pension liability 6,407,365 2,680,897 213,368 1,257,829 10,559,459 1,880,378
Net OPEB liability 1,921,758 724,336 47,799 250,025 2,943,918 442,446
Total long-term liabilities 52,438,151 11,086,947 261,167 4,262,619 68,048,884 9,943,974
Total liabilities 66,966,310 11,923,662 1,002,573 7,791,739 87,684,284 13,618,434
Deferred Inflows of Resources
Pension-related 620,377 259,571 20,659 121,786 1,022,393 182,063
OPEB-related 456,124 171,919 11,345 59,342 698,730 105,013
Total deferred inflows of resources 1,076,501 431,490 32,004 181,128 1,721,123 287,076
Net Position
Net investment in capital assets 206,176,105 10,836,878 35,347,540 69,245,464 321,605,987 36,905,951
Restricted for debt service 13,421,380 - - - 13,421,380 -
Unrestricted 20,598,390 5,381,739 10,745,735 (510,093) 36,215,771 22,181,106
Total net position $ 240,195,875 $ 16,218,617 $ 46,093,275 $ 68,735,371 371,243,138 $ 59,087,057
Adjustment to reflect the consolidation of internal service funds activities
related to enterprise funds 55,100,426
Net position of business-type activities $ 426,343,564
See accompanying notes to the basic financial statements.
22
EXHIBIT A-8
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF REVENUES,EXPENSES AND
CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2025
Enterprise Funds
Stormwater Nonmajor
Water and Sanitation Drainage Enterprise Internal
Sewer Fund Fund Fund Funds Total Service Funds
Operating revenues:
Charges for services $ 52,404,938 $ 19,476,108 $ 3,791,664 $ 1,671,235 $ 77,343,945 $ 18,153,218
Rents,concessions and other 163,451 29,217 - 3,757,580 3,950,248 1,282,228
Contributions - - - - 14,618,537
Total operating revenues 52,568,389 19,505,325 3,791,664 5,428,815 81,294,193 34,053,983
Operating expenses:
Personnel services 13,540,259 5,666,299 478,717 3,549,656 23,234,931 3,844,561
Supplies and materials 4,152,405 389,657 1,147 1,736,342 6,279,551 3,534,238
Maintenance and repairs 2,952,791 115,860 23,029 358,162 3,449,842 4,707,983
Utilities and other services 5,864,893 6,372,529 197,055 1,135,979 13,570,456 720,411
Insurance and contract support 862,404 121,680 512 237,500 1,222,096 16,494,009
Other expenses 2,106,989 606,325 30,128 477,698 3,221,140 1,229,104
Depreciation and amortization 9,650,032 500,816 443,739 2,997,119 13,591,706 7,303,188
Total operating expenses 39,129,773 13,773,166 1,174,327 10,492,456 64,569,722 37,833,494
Operating income(loss) 13,438,616 5,732,159 2,617,337 (5,063,641) 16,724,471 (3,779,511)
Nonoperating revenues(expenses):
Investment earnings(loss) 971,449 358,159 298,458 161,007 1,789,073 1,658,452
Gain/(loss)on sale/abandonment of capital
assets 22,515 - - 5,489 28,004 253,620
Interest expense and paying agent fees (1,728,362) - - (27,230) (1,755,592) (180,012)
Intergovernmental operating grants - - - 3,434,358 3,434,358 -
Total nonoperating revenues(expenses) (734,398) 358,159 298,458 3,573,624 3,495,843 1,732,060
Income(loss)before contributions and transfers 12,704,218 6,090,318 2,915,795 (1,490,017) 20,220,314 (2,047,451)
Capital contributions 1,178,123 - - - 1,178,123 -
Transfers in - - - 367,318 367,318 8,088,099
Transfers out (2,910,670) (5,348,094) (757,509) (1,190,270) (10,206,543) (312,000)
Change in net position 10,971,671 742,224 2,158,286 (2,312,969) 11,559,212 5,728,648
Net position-beginning,as previously reported 229,769,340 15,738,146 - 115,170,841 53,803,142
Adjustment-change from nonmajor fund to major fund - - 43,959,193 (43,959,193) -
Error correction - - - (249,484)
Change in accounting principle (545,136) (261,753) (24,204) (163,308) (195,248)
Net position-beginning,as restated 229,224,204 15,476,393 43,934,989 71,048,340 53,358,410
Net position-ending $ 240,195,875 $ 16,218,617 $46,093,275 $ 68,735,371 $ 59,087,058
Adjustment to reflect the consolidation of internal service funds activities
related to enterprise funds 7,117,633
Change in net position of business-type activities $ 18,676,845
See accompanying notes to the basic financial statements.
23
EXHIBIT A-9
(Page 1 of 2)
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2025
Enterprise Funds
Stormwater Nonmajor
Water and Sanitation Drainage Enterprise Internal
Sewer Fund Fund Fund Funds Total Service Funds
Cash flows from operating activities:
Received from customers and users $ 53,039,203 $ 19,310,886 $ 3,796,371 $ 5,454,052 $ 81,600,512 $ 3,726,234
Received from interfund charges - - - - 29,502,569
Other operating receipts - - - - - 822,130
Payments to suppliers (16,774,655) (2,663,786) (61,001) (3,831,550) (23,330,992) (26,927,566)
Payments for interfund services (4,342,505) (6,234,280) (234,193) (894,487) (11,705,465) (705,601)
Payments to employees (9,710,861) (4,082,592) (323,665) (2,790,932) (16,908,050) (2,880,076)
Net cash provided(used)by operating activities 22,211,182 6,330,228 3,177,512 (2,062,917) 29,656,005 3,537,690
Cash flows from noncapital financing activities:
Intergovernmental operating grants - - - 4,317,935 4,317,935 -
Interfund loans received(repaid) - - (858,276) (858,276) -
Transfers in from other funds - - 367,318 367,318 8,088,099
Transfers out to other funds (2,910,670) (5,348,094) (757,509) (1,190,270) (10,206,543) (312,000)
Net cash provided(used)by noncapital financing
activities (2,910,670) (5,348,094) (757,509) 2,636,707 (6,379,566) 7,776,099
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets (5,208,062) (586,922) (3,066,061) (1,358,419) (10,219,464) (11,180,208)
Proceeds from sale of capital assets 22,515 - - 5,489 28,004 462,240
Principal paid on long-term debt (12,181,761) - - (31,302) (12,213,063) (962,232)
Interest and fees paid on long-term debt (2,007,973) - - (27,230) (2,035,203) (180,012)
Net cash provided(used)for capital and
related financing activities (19,375,281) (586,922) (3,066,061) (1,411,462) (24,439,726) (11,860,212)
Cash flows from investing activities:
Investment earnings 971,449 358,159 298,458 161,007 1,789,073 1,658,452
Net cash provided(used)by investing activities 971,449 358,159 298,458 161,007 1,789,073 1,658,452
Net Increase(Decrease)in Cash and Cash Equivalents 896,680 753,371 (347,600} (676,665) 625,786 1,112,029
Cash and Cash Equivalents-Beginning 37,503,287 13,947,079 11,665.773 3,816,270 66,932,409 24,645,465
Cash and Cash Equivalents-Ending $ 38,399,967 $ 14,700,450 $ 11,318,173 $ 3,139,605 S 67,558,195 $ 25,757,494
Reconciliation of cash and cash equivalents on the
balance sheet to the statement of cash flows:
Cash and cash equivalents $ 24,183,826 $ 14,700,450 5 11,318,173 $ 535,084 5 50,737,533 $ 10,573,600
Restricted assets-cash and cash equivalents 14,216,141 - - 2,604,521 16,820,662 15,183,894
Total cash and cash equivalents at end of year $ 38,399,967 $ 14,700,450 $ 11,318,173 $ 3,139,605 $ 67,558,195 $ 25,757,494
See accompanying notes to the basic financial statements.
24
EXHIBIT A-9
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2025
Enterprise Funds
Stormwater Nonmajor
Water and Sanitation Drainage Enterprise Internal
Sewer Fund Fund Fund Funds Total Service Funds
Reconciliation of Operating Income(Loss)to Net Cash
Provided(Used)by Operating Activities:
Operating income(loss) $ 13,438,616 $ 5,732,159 $ 2,617,337 $ (5,063,641) $ 16,724,471 $ (3,779,511)
Adjustments to reconcile operating income(loss)
to net cash provided(used)by operating activities:
Depreciation and amortization 9,650,032 500,816 443,739 2,997,119 13,591,706 7,303,188
Customer deposits received(refunded) 387,439 - - 387,439 -
(Increase)decrease in assets and deferred
outflows:
Receivables:
Customer and trade 73,727 (194,439) 4,707 - (116,005)
Other 9,648 25,237 34,885 (1,305)
Inventory (568,117) - - (660) (568,777) 15,400
Prepaid items (29,738) (6,605) (36,343) (445)
Other current assets - - - (79,912) (79,912)
Deferred outflows-pension-related 1,140,189 448,955 19,534 215,622 1,824,300 321,579
Deferred outflows-OPEB-related (155,408) (60,845) (3,940) (20,170) (240,363) (35,238)
Increase(decrease)in liabilities and deferred
inflows:
Accounts payable-trade (124,170) (52,368) 75,880 76,845 (23,813) 173,850
Accrued payroll 92,343 37,381 4,260 20,260 154,244 31,806
Accrued vacation and sick leave (13,536) 1,470 4,528 22,011 14,473 (36,927)
Estimated health claims payable - - - - (81,295)
Payable to government agencies - 51,285 - 787 52,072 -
Other liabilities (369,870) (20,737) - 6,436 (384,171) (1,745)
Estimated liability for landfill closure 349,546 - - 349,546 -
Net pension liability (1,945,209) (729,174) (9,217) (357,124) (3,040,724) (531,582)
Net OPEB liability 397,710 161,337 10,266 51,494 620,807 88,843
Deferred inflows-pension-related 285,083 122,682 11,724 56,957 476,446 85,241
Deferred inflows-OPEB-related (57,557) (17,840) (1,306) (7,573) (84,276) (14,169)
Total adjustments 8,772,566 598,069 560,175 3,000,724 12,931,534 7,317,201
Net cash provided(used)by
operating activities $ 22,211,182 $ 6,330,228 $ 3,177,512 $ (2,062,917) $ 29,656,005 $ 3,537,690
Noncash capital and financing activities:
Capital assets received from developers $ 1,178,121 $ - $ - $ - $ 1,178,121 $
See accompanying notes to the basic financial statements.
25
EXHIBIT A-10
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF FIDUCIARY NET POSITION
SEPTEMBER 30, 2025
Pension Trust Custodial
Fund Fund
Assets
Cash and cash equivalents $ 200 $ 222,230
Receivables 41,222
Investments 59,633,559 -
Total assets 59,674,981 222,230
Liabilities
Accrued expenses 23,600 -
Other liabilities 222,230
Total liabilities 23,600 222,230
Net position $ 59,651,381 $ -
See accompanying notes to the basic financial statements.
26
EXHIBIT A-11
CITY OF WICHITA FALLS, TEXAS
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Pension Trust Custodial
Fund Fund
Additions
Contributions:
Employer $ 3,313,807 $ -
Plan members 1,823,000
Escheatment additions 26,783
Total contributions 5,136,807 26,783
Investment earnings(net):
Interest and dividend income 1,946,474 Net appreciation (depreciation) in fair value of investments 4,498,171 -
Less investment expenses (436,234) -
Total investment earnings(net) 6,008,411
Total additions 11,145,218 26,783
Deductions
Benefits paid to participants 6,043,249 -
Refunds and drop payments 594,056 -
Administrative expenses 111,753 -
Escheatment deductions - 26,783
Total deductions 6,749,058 26,783
Net increase(decrease) in fiduciary net position 4,396,160 -
Net position-beginning 55,255,221 Net position-ending $ 59,651,381 $ -
See accompanying notes to the basic financial statements.
27
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting and reporting policies of the City of Wichita Falls,Texas (City) conform to accounting
principles generally accepted in the United States of America (GAAP) applicable to state and local
governments. GAAP for local governments includes those principles prescribed by the Governmental
Accounting Standards Board (GASB), which includes all statements and interpretations of the National
Council on Governmental Accounting (NCGA) unless modified by the GASB, and those principles
prescribed by the American Institute of Certified Public Accountants in the publication entitled Audits
of State and Local Governmental Units. The following is a summary of the more significant policies
and practices used by the City.
A. Reporting Entity
The City is a municipal corporation governed by an elected Mayor and six-member City Council. As
required by various Governmental Accounting Standards Board (GASB) statements, these financial
statements present the City and its component units, entities for which the City is considered to be
financially accountable. Blended component units, although legally separate entities, are in
substance, part of the City's operations and data from these units are combined with data presented
by the City. A discretely presented component unit, on the other hand, is reported in a separate
column in the basic financial statements to emphasize it is legally separate from the City. Each
blended and discretely presented component unit has a September 30th year end.
Blended Component Unit
Employee Benefit Trust Fund. On October 1, 1983, an "Agreement and Declaration of Trust" was
made and entered into between the City and the Employee Benefit Trust Committee, acting as
Trustee to administer the Employee Benefit Trust (Trust). The Trust Committee consists of four
Trustees selected by the City, who may, but need not be, beneficiaries of the health and welfare
program funded by the Trust, and/or officers or employees of the City. The purpose of the Trust
is to provide health and welfare benefits, which may include life, accidental death and
dismemberment, disability, medical and dental insurance, and any other benefits as determined
by the Trustee Committee. The Trust is funded through contributions by the City and employees
who choose to participate. It may be terminated in writing, at any time, by either party. The
Employee Benefit Trust Fund is presented in the accompanying financial statements as an internal
service fund.
Discretely Presented Component Units
The Wichita Falls Economic Development Corporation. The Wichita Falls Economic Development
Corporation is a non-profit corporation formed in May 1997 for the purpose of increasing
employment opportunities, primarily through assisting qualifying enterprises with funds provided
by a portion of the local sales tax. Assistance may be in the form of incentive grants, loans or
leases which call for discounted rates or rebates for job development. The Corporation operates
under the authority of Vernon's Civil Statutes, Article 5190.6, Section 4A. Since the City Council
appoints its Board of Directors, approves its budgets, and exercises final authority over its
operations, the Wichita Falls Economic Development Corporation is considered to be part of the
City's reporting entity and presented in the accompanying basic financial statements as a
discretely presented component unit. The Wichita Falls Economic Development Corporation
utilizes full accrual accounting.
28
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(CONTD.)
The Wichita Falls 48 Sales Tax Corporation. The Wichita Falls 4B Sales Tax Corporation is a non-
profit corporation formed in May 1997 for the purpose of increasing employment opportunities
and for public improvement projects such as parks, auditoriums, learning centers, open space
improvements, athletic and exhibition facilities, and the related maintenance and operating costs
of such projects. The Corporation operates under the authority of Vernon's Civil Statutes, Article
5190.6, Section 4B. Since the City Council appoints its Board of Directors, approves its budgets,
and exercises final authority over its operations, the Wichita Falls 4B Sales Tax Corporation is
considered to be part of the City's reporting entity and presented in the accompanying basic
financial statements as a discretely presented component unit. The Wichita Falls 4B Sales Tax
Corporation utilizes full accrual accounting.
Wichita Falls Reinvestment Zone#2. On August 16, 2005,the City of Wichita Falls,Texas,with the
advice and consent of the Wichita Falls Independent School District and Wichita County,
approved the creation of the Wichita Falls Reinvestment Zone #2 (Zone). This Zone is permitted
by Article 1066e of the State of Texas Tax Increment Financing Act passed in 1981.The area of the
Zone is approximately 236 acres and includes the Lawrence Road area of the City. The purpose of
the Zone is to capture increments of growth in real property values in the Zone from base values
established on January 1, 2004, and use the ad valorem taxes derived from these increments to
contribute to the zoned area. Tax funds derived from the increment can only be spent for public
improvements in the Zone or for the payment of debt service on bonds issued to provide funds
for public improvements. The Zone terminates on December 31, 2025, or when all debt has been
paid if later. After all costs have been paid at the end of the tax increment financing period, any
money remaining is to be remitted to the taxing entities. Since the City Council appoints a
majority of its Board, approves its budget, and exercises final authority over its operations, the
Wichita Falls Reinvestment Zone #2 is considered to be part of the City's reporting entity and
presented in the accompanying basic financial statements as a discretely presented component
unit. The Zone utilizes full accrual accounting.
Wichita Falls Reinvestment Zone#3. On September 1, 2009, the City of Wichita Falls, Texas, with
the advice and consent of the Wichita Falls Independent School District and Wichita County,
approved the creation of the Wichita Falls Reinvestment Zone #3 (Zone). This Zone is permitted
by Article 1066e of the State of Texas Tax Increment Financing Act passed in 1981.The area of the
Zone is approximately 630 acres and includes a significant portion of the Eastside Neighborhood.
The purpose of the Zone is to capture increments of growth in real property values in the Zone
from base values established on January 1, 2009, and use the ad valorem taxes derived from
these increments to contribute to the zoned area. Tax funds derived from the increment can only
be spent for public improvements in the Zone or for the payment of debt service on bonds issued
to provide funds for public improvements. The Zone terminates on December 31, 2029. After all
costs have been paid at the end of the tax increment financing period, any money remaining is to
be remitted to the taxing entities. Since the City Council appoints a majority of its Board, approves
its budget, and exercises final authority over its operations, the Wichita Falls Reinvestment Zone
#3 is considered to be part of the City's reporting entity and presented in the accompanying basic
financial statements as a discretely presented component unit. The Zone utilizes full accrual
accounting.
29
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(CONT'D.)
Wichita Falls Reinvestment Zone#4. On March 17, 2015, the City of Wichita Falls,Texas, with the
advice and consent of the Wichita Falls Independent School District and Wichita County,
approved the creation of the Wichita Falls Reinvestment Zone #4 (Zone). This Zone is permitted
by Article 1066e of the State of Texas Tax Increment Financing Act passed in 1981.The area of the
Zone is approximately 246 acres and includes a significant portion of the downtown area. The
purpose of the Zone is to capture increments of growth in real property values in the Zone from
base values established on January 1, 2015, and use the ad valorem taxes derived from these
increments to contribute to the zoned area. Tax funds derived from the increment can only be
spent for public improvements in the Zone or for the payment of debt service on bonds issued to
provide funds for public improvements. The Zone terminates on December 31, 2035. After all
costs have been paid at the end of the tax increment financing period, any money remaining is to
be remitted to the taxing entities. Since the City Council appoints a majority of its Board,
approves its budget, and exercises final authority over its operations, the Wichita Falls
Reinvestment Zone #4 is considered to be part of the City's reporting entity and presented in the
accompanying basic financial statements as a discretely presented component unit. The Zone
utilizes full accrual accounting.
No separate audited financial statements are available for the City's blended and discretely
presented component units. Complete financial statements for the individual component units
may be obtained from the City's Director of Finance/CFO at 1300 7th Street,Wichita Falls, Texas.
Fiduciary_Component Unit
Wichita Falls Firemen's Relief and Retirement Fund. The Wichita Falls Firemen's Relief and
Retirement Fund was established and is controlled through various State of Texas legislative
enactments. This Fund is administered locally by a seven-member board, independent of the
City Council. The seven-member Board of Trustees, composed of the Mayor, the Director of
Finance from the City's Finance Department, three firefighters elected by a majority vote of the
firefighters and two citizens, who are not employees or officers of the City and are chosen by
the unanimous vote of the first five Trustees, are subject to the administrative supervision of
and report to the State Firemen's Pension Board. The City is legally obligated to make
contributions to the plan. As such,the Fund is considered a fiduciary component unit of the City.
The Fund operates on a fiscal year ending on December 31 of each year.
B. Basis of Presentation
Government-wide financial statements
The basic financial statements include both government-wide (based on the City as a whole) and fund
financial statements. The government-wide financial statements (i.e., the statement of net position
and the statement of activities) report information on all non-fiduciary activities of the primary
government and its component units. For the most part, the effect of interfund activity has been
removed from these statements. However, interfund services provided and used are not eliminated
in the process of consolidation. Governmental activities, which normally are supported by taxes and
intergovernmental revenues, are reported separately from business-type activities, which rely to a
significant extent on fees and charges for support.
30
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30,2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(CONT'D.)
The government-wide statement of activities demonstrates the degree to which the direct expenses
of a functional category (police, public works, etc.) or segment are offset by program revenues. Direct
expenses are those that are clearly identifiable with a specific function or segment. Program revenues
include 1) charges to customers or applicants who purchase, use or directly benefit from goods,
services or privileges provided by a given function or segment, 2) grants and contributions that are
restricted to meeting operational requirements of a particular function or segment, and 3) grants and
contributions that are restricted to meeting the capital requirements of a particular function or
segment. Taxes and other items not included among program revenues are reported instead as
general revenues.
Fund financial statements
Separate fund-based financial statements are provided for governmental funds, proprietary funds,
and fiduciary funds, even though the latter are excluded from the government-wide financial
statements. Major individual governmental funds and major enterprise funds are reported as
separate columns in the fund financial statements. GASB Statement No. 34 sets forth minimum
criteria (percentage of assets (combined with deferred outflows of resources), liabilities (combined
with deferred inflows of resources), revenues or expenditures/expenses of either fund category for
governmental and enterprise) for the determination of major funds. The major governmental funds
are the General Fund and the American Rescue Plan Act (ARPA) Fund. The major enterprise funds are
the Water and Sewer Fund,the Sanitation Fund, and the Stormwater Drainage Fund. Nonmajor funds
are combined in a column in the fund financial statements. Nonmajor funds are detailed in the
combining section of the statements.
Internal service funds, which traditionally provide services primarily to other funds of the government,
are presented in the summary form as part of the proprietary fund financial statements. Because the
principal users of internal services are the City's governmental and business-type activities, financial
statements of internal service funds are allocated (based on the percentage of goods or services
provided) between the governmental and business-type activities when presented at the government-
wide level.
The government-wide focus is more on the sustainability of the City as an entity and the change in
aggregate financial position resulting from the activities of the fiscal period. The focus of the fund
financial statements is on the major individual funds of the governmental and business-type
categories. Each presentation provides valuable information that can be analyzed and compared to
enhance the usefulness of the information.
C. Measurement focus, basis of accounting and financial statement presentation
The government-wide financial statements are reported using the economic resources measurement
focus and the accrual basis of accounting, as are the proprietary and fiduciary funds. Revenues are
recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing
of related cash flows. Property taxes are recognized as revenues in the year in which they are levied.
Grants and similar items are recognized as soon as all eligibility requirements imposed by the provider
have been met.
31
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30,2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(CONT'D.)
Government fund-level financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon
as they are both measurable and available. Revenues are considered to be available when they are
collectible within the current period or soon enough thereafter to pay liabilities of the current period.
For this purpose, the government considers revenues to be available if they are collected within 60
days of the end of the current fiscal period. Expenditures are generally recorded when a liability is
incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures
related to compensated absences and claims and judgments, are recorded only when payment is due.
Property tax, franchise fees, and sales tax associated with the current fiscal period are all susceptible
to accrual and have been recognized as revenues of the current fiscal period. All of the revenue items
are considered to be measurable and available only when cash is received.
The City reports the following major governmental funds:
The General Fund is the City's primary operating fund. All general tax revenues and other receipts
that are not allocated by law or contractual agreement to some other fund are accounted for in
this fund. From the fund are paid general operating costs, fixed charges, and capital improvement
costs that are not paid through other funds.
The ARPA Fund is used to account for Coronavirus State and Local Fiscal Recovery Funds received
through the American Rescue Plan Act of 2021.
Nonmajor governmental funds are a summarization of all the nonmajor governmental funds.
The City reports the following major proprietary funds:
The Water and Sewer Fund accounts for the water and sewer utility services provided to residents
of the City. Activities necessary to provide such services are accounted for in the fund, including,
but not limited to, administration, operations, maintenance,finance and related debt service.
The Sanitation Fund accounts for refuse collection services to the residents of the City as well as
the operations of the City's landfill. Activities necessary to provide such services are accounted for
in the fund, including, but not limited to, administration, operations and maintenance.
The Stormwater Drainage Fund was established to account for operating revenues and expenses
associated with the Storm Water Drainage Utility System (System). The System was established effective
May 1,2001 and provides a funding mechanism for drainage improvements in the City.
Nonmajor enterprise funds are a summarization of all of the nonmajor proprietary funds.
The City additionally reports the following fund types:
Internal service funds are used to account for the financing of materials and services provided by
one department of the City to other departments of the City on a cost-reimbursement basis. The
City uses internal service funds to report the activities of fleet maintenance, duplicating services,
employee health and life insurance,and information technology.
32
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(CONT'D.)
A custodial fund is used to account for any unclaimed vendor or payroll checks that will be escheated
to the State if they remain unclaimed.These funds are held on a purely custodial basis.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues
of the City's water and sewer, sanitation, transit, and airport funds are charges to customers for
services. Operating expenses for the enterprise funds and internal service funds include the cost of
sales and services, administrative expenses and depreciation on capital assets. All revenues and
expenses not meeting this definition are reported as nonoperating revenues and expenses.
When both restricted and unrestricted resources are available for use, it is the government's policy to
use restricted resources first,then unrestricted resources as they are needed.
Capital improvement assessments are recorded as revenues in the fiscal period when the assessment
becomes both measurable and available to finance expenditures of the fiscal period. Assessment
revenues are considered measurable and available when collected by the City and recognized as
revenue at that time. Payments for capital improvement assessments received in advance of the levy
are reflected as deferred revenue.
D. Nonexchange Transactions
In a nonexchange transaction, a government gives (or receives) value without directly receiving (or
giving) equal value in return. The statement defines when the City should recognize revenue or
expense for nonexchange transactions involving financial or capital resources and how to account for
timing and purpose restrictions. The timing of recognition depends on whether a nonexchange
transaction is (a) a derived tax revenue (b) an imposed nonexchange revenue transaction or (c) a
government-mandated or voluntary nonexchange transaction. Under this standard, revenue
transactions with purpose restrictions are recorded as restricted resources until the purpose
restrictions are met.
Nonexchange transactions include the following classifications:
• Derived tax revenues result from assessments imposed by governments on exchange
transactions.
• Imposed nonexchange revenues result from assessments by governments on nongovernmental
entities, other than assessments on exchange transactions.
• Government-mandated nonexchange transactions occur when a government at one level
provides resources to a government at another level and require that government to use them
for a specific purpose or purposes established in the provider's enabling legislation.
▪ Voluntary nonexchange transactions result from legislative or contractual agreements, other
than exchanges, entered into willingly by two or more parties. Examples of the City's voluntary
nonexchange transactions include capital grants, state shared revenue and private donations.
33
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(CONT'D.)
Providers of government-mandated nonexchange transactions and voluntary nonexchange
transactions should recognize liabilities and expenses/expenditures and recipients should recognize
receivables (or decrease in liabilities) and revenue when all applicable eligibility requirements,
including time requirements are met.
All nonexchange transactions occurring in governmental fund types are also subject to the modified
accrual revenue recognition criteria. Accordingly, assets and revenue should not be recognized unless
measurable and available.
E. Assets, liabilities and net position or fund balances
1. Cash, cash equivalents and investments
The City's cash and cash equivalents are considered to be cash on hand, demand deposits and
short-term investments with original maturities of three months or less from the date of
acquisition.
Investments are carried at fair value. Fair value is determined as the price at which two
willing parties would complete an exchange. Interest earned on investments is recorded in
the funds in which the investments are recorded.
2. Inventory and Prepaid Items
Inventories of the general and proprietary funds consist of supplies and various materials
used for the maintenance of capital assets. The consumption method is used to account for
these inventories. Under this method, inventory acquisitions are recorded in inventory
accounts initially and charged as expenditures when used. Inventories are stated at average
cost.
Certain payments to vendors reflect costs applicable to future accounting periods and are
recorded as prepaid items in both government-wide and fund financial statements via the
purchases method.
3. Capital Assets
Capital assets, which include property, plant and equipment, and infrastructure assets (e.g.
roads, bridges, sidewalks and similar items), are reported in the applicable governmental or
business-like activities columns in the government-wide financial statements.The City defines
capital assets as assets with an initial, individual cost of more than $1,000 and an estimated
useful life in excess of one year. Such assets are recorded at historical cost or estimated
historical cost if purchased or constructed. Donated capital assets are recorded at acquisition
value at the time received.
Capital assets are depreciated using the straight-line method over the following useful lives:
34
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(CONT'D.)
Assets Years
Buildings, systems and improvements 20-59 years
Infrastructure 8-100 years
Machinery, vehicles and other equipment 3-25 years
Furniture and equipment 3-10 years
Right-to-use leased assets 50 years
Subscription assets 2-10 years
Contributions of funds from federal, state, or local grants restricted for the purpose of
purchasing plant and equipment are recorded as revenue when received. The cost of water
and sewer lines installed by developers is valued by the contractor and recorded as
nonoperating revenue in the Water and Sewer Fund.
4. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate
section for deferred outflows of resources. This separate financial statement element
represents a consumption of net assets that applies to a future period(s) and so will not be
recognized as an outflow of resources (expense/expenditure) until then. Certain amounts
related to the City's participation in pension plans (See Note 8) and OPEB plan (See Note 9)
are reported in this category, along with deferred losses on bond refunding.
In addition to liabilities, the statement of financial position will sometimes report a separate
section for deferred inflows of resources. This separate financial statement element
represents an acquisition of net assets that applies to a future period(s) and so will not be
recognized as an inflow of resources (revenue) until that time. The City has only two types of
items that qualify for reporting in this category. Property taxes receivable ($1,304,190) and
municipal court fines receivable ($1,686,226) are unavailable and therefore cannot be
recognized as revenue in the governmental funds until they are received. There are also
certain items related to the City's participation in pension plans (See Note 8) and OPEB plan
(See Note 9)that are reported in this category.
5. Long-Term Obligations
Long-term debt and other obligations for general government purposes are recorded in the
government-wide statement of net position. Long-term debt and other obligations financed by
proprietary funds are reported as liabilities in the appropriate funds.
For the government-wide financial statements and proprietary fund types, bond premiums and
discounts, as well as issuance costs, are deferred and amortized over the life of the bonds using
the straight-line method in the government-wide financial statements. Bonds payable are
reported net of the applicable bond premium or discount. Issuance costs are reported as
deferred bond issue costs and amortized over the term of the related debt. In addition, gains or
losses on proprietary fund bond refunding are amortized over the term of the lesser of the new
bonds or the refunded bonds' life using the effective interest method. In the governmental
fund financials, bond proceeds are reported as another financing source. Bond premiums and
discounts in governmental funds are also recognized currently as other financing sources or
uses. Issuance costs, even if withheld from the actual net proceeds received, are reported as
debt service expenditures.
35
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(CONT'D.)
6. Fund Balances—Governmental Funds
Fund balances of the governmental funds are classified as follows:
Nonspendable Fund Balance — represents amounts that cannot be spent because they are
either not in spendable form (such as inventory or prepaid insurance) or legally required to
remain intact (such as notes receivable or principal of a permanent fund).
Restricted Fund Balance — represents amounts that are constrained by external parties,
constitutional provisions or enabling legislation.
Committed Fund Balance — represents amounts that can only be used for a specific purpose
by adoption of an ordinance by the City Council. Committed amounts cannot be used for any
other purpose unless the governing board removes those constraints through the adoption of
another ordinance. Committed fund balance amounts differ from restricted balances in that
the constraints on their use do not come from outside parties, constitutional provisions, or
enabling legislation, but rather from inside the City.
Assigned Fund Balance — represents amounts which the City intends to use for a specific
purpose, but that do not meet the criteria to be classified as restricted or committed. The
City Council has by resolution authorized the Director of Finance/CFO to assign fund balance.
Specific amounts that are not restricted or committed in a special revenue, capital projects,
debt service or permanent fund are assigned for purposes in accordance with the nature of
their fund type or the fund's primary purpose. Assignments within the General Fund convey
that the intended use of those amounts is for a specific purpose that is narrower than the
general purposes of the City itself. Unlike commitments, assignments only exist temporarily.
Therefore, additional action does not normally have to be taken for the removal of an
assignment.
Unassigned Fund Balance— represents amounts which are unconstrained in that they may be
spent for any purpose. Only the General Fund reports a positive unassigned fund balance.
Other governmental funds might report a negative balance in this classification because of
overspending for specific purposes for which amounts had been restricted, committed or
assigned.
When an expenditure is incurred for a purpose for which both restricted and unrestricted
fund balance is available, the City considers restricted funds to have been spent first. When
an expenditure is incurred for which committed, assigned, or unassigned fund balances are
available, the City considers amounts to have been spent first out of committed funds, then
assigned funds, and finally unassigned funds.
7. Federal and State Grants
Grants and shared revenues are generally accounted for within the appropriate fund of the
City to be financed by such grants or shared revenues. Federal grants include Community
Development Block Grant, Section 8 Housing Assistance, Home Investment Partnership
Agreement Program, and numerous health-related grants.
36
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(CONT'D.)
Each Federal grant is accounted for in a separate special revenue fund. State grant revenues
received for purposes normally financed through the general government are accounted for
within the General Fund.
8. Transactions Between Funds
Outstanding balances between funds are reported as "due to/from other City funds." Any
residual balances between governmental activities and business-type activities are reported in
the government-wide statements as "internal balances." Nonrecurring or non-routine transfers
of equity between funds are accounted for as transfers.
9. Vacation and Sick Leave
All full-time employees accumulate vacation benefits based on length of service up to 20 days
per year. The maximum allowable accumulation is 35 days. Upon leaving the employment of
the City, employees will be paid for unused vacation days which they have accrued.
Sick leave is earned at the rate of 4.62 hours per pay period up to a maximum of ninety days.
Additionally, police officers and firefighters may accumulate an unlimited number of sick
leave days while employed with the City. Upon termination, police officers and firefighters
are compensated for up to 720 hours and 1,080 hours, respectively.
10. Risk Management
The government is exposed to various risks of loss related to torts; theft of, damage to and
destruction of assets; errors and omissions; and natural disasters for which the government
carries commercial insurance. For insured programs, there have been no significant
reductions in insurance coverage. Settlement amounts have not exceeded insurance coverage
for the current year or the three prior years.
The City maintains a group health insurance plan for employees and dependents which is
partially self-insured by the City. A group life insurance plan is maintained through an
insurance company. Contributions to the plans are provided for by both the City and
participating employees. These contributions are recognized as revenues in the internal
service fund used to account for these plans. The contributions made by the City are recorded
as expenditures or expenses of the various funds as appropriate.
Liabilities are reported when it is probable that a loss has occurred and the amount of the loss
can be reasonably estimated. An excess coverage insurance policy covers individual claims in
excess of$500,000. Liabilities include an amount for claims that have been incurred but not
reported. Claim liabilities are calculated considering the effects of inflation, recent claim
settlement trends including frequency and amount of pay-outs and other economic and social
factors.
37
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(CONT'D.)
The City is also self-insured up to $250,000 for workers' compensation claims. Such claims
are processed by a third-party administrator. The City's estimated liability for workers'
compensation claims payable at September 30, 2025 is based on management's estimate of
probable losses in the amount of $722,839. The payment dates of such claims cannot be
precisely determined, but are expected to be paid on a periodic basis over the next few years.
Accordingly, the long-term liability has been recorded in the government-wide financial
statements.
The following represents changes in the amount of claims liabilities for the City from October
1, 2023 to September 30, 2025:
Health Workers'
Care Compensation
Liability balance, October 1, 2023 $ 1,047,682 $ 784,839
Incurred claims/adjustments 14,808,476 571,942
Claim payments ( 14,668,044) ( 594,124)
Liability balance,September 30, 2024 1,188,114 762,657
Incurred claims/adjustments 15,702,270 616,724
Claim payments ( 15,783,565) ( 656,542)
Liability balance, September 30, 2025 S 1,106,819 $ 722,839
F. Pension Plan
For purposes of measuring the net pension liability, deferred outflows of resources, and deferred
inflows of resources related to pensions, and pension expense, information about the Fiduciary Net
Position of the Texas Municipal Retirement System (TMRS) and the Wichita Falls Firemen's Relief
and Retirement Fund (WFFRRF) and additions to/deductions from Fiduciary Net Position have been
determined on the same basis as they are reported to TMRS and WFFRRF. For this purpose, plan
contributions are recognized in the period that compensation is reported for the employee,which is
when contributions are legally due. Benefit payments and refunds are recognized when due and
payable in accordance with the benefit terms. Investments are reported at fair value.
G. Other Post-Employment Benefits
The fiduciary net position of the City of Wichita Falls Retiree Health Care Plan has been determined
using the flow of economic resources measurement focus and full accrual basis of accounting. This
includes for purposes of measuring the net OPEB liability,deferred outflows of resources and deferred
inflows of resources related to other post-employment benefits, OPEB expense, and information
about assets, liabilities and additions to/deductions from the Plan's fiduciary net position. Benefit
payments are recognized when due and payable in accordance with the benefit terms.
Note 2 - COMPLIANCE AND ACCOUNTABILITY
Finance-Related Legal and Contractual Provisions
The City had no violations of finance-related legal and contractual provisions for the year ended
September 30, 2025.
38
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 2 - COMPLIANCE AND ACCOUNTABILITY(CONT'D.)
Deficit Fund Balances—Individual Funds
The Airport Improvement Grant Fund, a special revenue funds, had a deficit fund balance of$426,160 as
of September 30,2025.The City plans for this deficit to be alleviated within a year.
Note 3 - DEPOSITS AND INVESTMENTS
Deposits
All of the City's demand and time depository accounts are held in local banking institutions under the
terms of written depository contracts. At September 30, 2025, the total amount of the City's demand
and time deposits per the general ledger was $6,043,278, and the total amount per the City's
September 30, 2025 bank statements was $6,829,469. The entire amount of the year-end bank
statement balances was covered by federal depository insurance or by collateral held by the City's
agent in the City's name.
Investments
The investment policies of the City and its discretely presented component units are governed by the
Public Funds Investment Act (PFIA). Authorized investments include obligations of the U.S. Treasury,
agencies and instrumentalities, obligations of the State of Texas and related agencies, obligations of
states, agencies, counties, cities and political subdivisions of any state rated A or above by a nationally
recognized investment rating firm, repurchase agreements, public funds investment pools, and
commercial paper.The City was in compliance with PFIA during the year ended September 30, 2025.
The investments of the City and its discretely presented component units at September 30, 2025 are
as follows:
Average
Fair Value/ Credit Weighted Average
Carrying Quality/ Days to
]pes of Investments Amount Cost Ratings Maturity
Primary Government:
TexPool $ 85,717,177 $ 85,717,177 Not rated 31
LOGIC 41,443,258 41,443,258 Not rated 44
U.S.Treasury Notes 7,006,230 6,988,463 N/A 295
Money market accounts 26,398,866 26,398,866 Not rated 1
Total primary government
investments 160,565,531 160,547,764
Component Units:
TexPool 35,267,304 35,267,304 Not rated 31
Total component unit
investments 35,267,304 35,267,304
Total investments 5195,832,835 5195.815.068
39
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 3 - DEPOSITS AND INVESTMENTS(CONT'D.)
TexPool is a local government investment pool organized in conformity with the Interlocal
Cooperation Act, Chapter 791 of the Texas Government Code, and operates under the Public Funds
Investment Act, Chapter 2256 of the Texas Government Code. The State Comptroller of Public
Accounts is the sole officer, director, and shareholder of the Texas Treasury Safekeeping Trust
Company, which is authorized to operate TexPool. Pursuant to the TexPool Participation Agreement,
administrative and investment services to TexPool are provided by Federated Investors, Inc., under an
agreement with the Comptroller, acting on behalf of the Trust Company. As required by the Public
Funds Investment Act, the Advisory Board is composed equally of participants in TexPool and other
persons who do not have a business relationship with TexPool who are qualified to advise TexPool.
TexPool is comprised of two investment alternatives: TexPool (which the City is invested in) and
TexPool Prime. Both funds seek to maintain a net asset value of$1.00 per unit and are rated AAAm by
Standard and Poor's.
Local Government Investment Cooperative (LOGIC) was organized in conformity with the Interlocal
Cooperation Act, Chapter 791 of the Texas Government Code, and the Public Funds Investment Act,
Chapter 2256 of the Texas Government Code, and operates as a public funds investment pool under
the Public Funds Investment Act. LOGIC is organized and existing as a business trust under the laws of
the State of Texas with all Participant funds and all investment assets held and managed in trust by a
Board of Trustees for the benefit of the Participants. The Board of Trustees is LOGIC's governing body
and is comprised of employees, officers or elected officials of Participant Government Entities or
individuals who do not have a business relationship with the Pool and are qualified to advise it. A
maximum of two advisory board members represent the Co-Administrators of the Pool. LOGIC seeks
to maintain a net asset value of$1.00 per unit and are rated AAAm by Standard and Poor's.
The City categorizes its fair value measurements with the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the
fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2
inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs.
Investments that are measured at fair value using the net asset value per share(or its equivalent) as a
practical expedient are not classified in the fair value hierarchy below. In instances where inputs used
to measure fair value fall into different levels in the above fair value hierarchy, fair value
measurements in their entirety are categorized based on the lowest level input that is significant to
the valuation. The City's assessment of the significance of particular inputs to these fair value
measurements requires judgement and considers factors specific to each asset or liability.
The City values its United States Treasury Bills and Notes using Level 1 inputs, which are quoted prices
in active markets. The City values its money market accounts using Level 2 inputs, which are values
provided by the City's depositories. TexPool and LOGIC are valued at net asset value per unit/share.
GASB Statement No. 40 requires a determination as to whether the City was exposed to the following
specific investment risks at year end and if so,the reporting of certain related disclosures:
a. Credit Risk
Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its
obligations. The ratings of securities by nationally recognized rating agencies are designed to
give an indication of credit risk. At year end, the City was not exposed to credit risk.
40
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30,2025
Note 3 - DEPOSITS AND INVESTMENTS(CONT'D.)
b. Custodial Credit Risk
Deposits are exposed to custodial credit risk if they are not covered by depository insurance
and the deposits are uncollateralized, collateralized with securities held by the pledging
financial institution, or collateralized with securities held by the pledging financial institution's
trust department or agent but not in the City's name.
Investment securities are exposed to custodial risk if the securities are uninsured, are not
registered in the name of the government, and are held by either the counterparty or the
counterparty's trust department or agent but not in the City's name.
At year end, the City was not exposed to custodial credit risk.
c. Concentration of Credit Risk
This risk is the risk of loss attributed to the magnitude of a government's investment in a single
issuer. At year end,the City was not exposed to concentration of credit risk.
d. Interest Rate Risk
This is the risk that changes in interest rates will adversely affect the fair value of an
investment. In accordance with its investment policy, the City manages its exposure to
interest rate risk by allowing no more than 20% of the City's portfolio to be invested for a
period greater than one year.
e. Foreign Currency Risk
This is the risk that exchange rates will adversely affect the fair value of an investment. At year
end,the City was not exposed to foreign currency risk.
Note 4 - PROPERTY TAXES
Property taxes attach as an enforceable lien on property as of the prior January 1. Taxes are levied on
October 1, and become delinquent after January 31, unless the half-payment option is elected, in
which case one-half of the tax is due November 30, and the balance the following June 30.
The City is permitted by its Home Rule Charter to levy taxes up to $2.25 per $100 of assessed
valuation for general governmental services including the payment of principal and interest on long-
term debt. The combined tax rate to finance general governmental services for the year ended
September 30, 2025 was $.6848 per $100 which means that the City has a tax margin of$1.5652 per
$100, and could raise up to $120,070,622 additional tax revenue a year from the present assessed
valuation of$7,671,263,859 before the limit is reached.
41
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 5 - RESTRICTED ASSETS
Restricted assets in the Water and Sewer Fund, Nonmajor Enterprise Funds, and Internal Service
Funds, are held for specific purposes in accordance with bond ordinances or other legal restrictions.
Water and Sewer restricted assets are comprised of the following:
For Debt Service:
Cash and cash equivalents $13,421,380
For Capital Improvements:
Cash and cash equivalents 794,761
Total S14.216.141
Nonmajor Enterprise Funds restricted assets are comprised of the following:
For Passenger Facility Charges:
Cash and cash equivalents $1,143,375
For Customer Facility Charges:
Cash and cash equivalents 1,461,146
Total $2,604,521
Internal Service Fund restricted assets are comprised of the following:
For Employee Insurance:
Cash and cash equivalents S15.183,984
42
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Z
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 7 - CAPITAL ASSETS
Capital asset activity for the year ended September 30, 2025 was as follows:
Restated
Balance Balance
Governmental activities: October 1, September 30,
2024 _Increases Decreases 2025
Capital assets not being depreciated:
Land $ 11,903,307 $ 11,748 $ - $ 11,915,055
Construction in progress 6,174,523 15,404,156 2,515,517 19,063,162
Total capital assets not being depreciated 18,077,830 15,415,904 2,515,517 30,978,217
Capital assets being depreciated:
Land betterments 30,028,867 3,695,895 - 33,724,762
Buildings,systems and improvements 83,872,094 548,856 - 84,420,950
Infrastructure 228,665,436 2,537,155 - 231,202,593
Machinery and equipment 35,791,190 1,601,681 - 37,392,871
Furniture and fixtures 130,848 6,836 - 137,684
Right-to-use leased assets 1,430,641 - - 1,430,641
Subscription assets 1,206 - - 1,206,228
Total capital assets being depreciated 381,125,304 8,390,423 _389,515,729
Less accumulated depreciation for:
Land betterments 10,857,160 996,267 - 11,853,427
Buildings,systems and improvements 38,520,101 2,007,157 - 40,527,258
Infrastructure 116,083,640 4,822,468 - 120,906,108
Machinery and equipment 26,796,187 2,072,467 - 28,868,654
Furniture and fixtures 130,848 954 - 131,802
Right-to-use leased assets 217,324 279,697 497,021
Subscription assets 648.677 195,420 844,097
Total accumulated depreciation 193,253,937 _10,374,430 - 203,628,367
Total capital assets being depreciated, net 187,871,367 L 1,984,007) - 185,887,362
Governmental activities capital
assets, net $205,949,197 $13,431,897 $2,515,517 $216.865.579
Depreciation expense was charged to functions as follows:
Governmental activities:
Administrative services $ 1,867,156
Police 899,576
Fire 268,123
Parks and recreation 736,965
Development services 12,584
Public works 4,212,309
Health 206,840
Traffic and transportation 755,501
Multi-Purpose Events Center 1,415,376
Total governmental depreciation $10,374,430
44
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 7 - CAPITAL ASSETS(CONT'D.)
Balance Balance
Business-type activities: October 1, September 30,
2024 Increases Decreases 2025
Capital assets not being depreciated:
Land $ 11,072,444 S - $ •
$ 11,072,444
Construction in progress 10,906,400 3,923,713 7,152.396 7,677,717
Total capital assets not being depreciated 21,978,844 3,923,713 7,152,396 18,750,161
Capital assets being depreciated:
Land betterments 61,036,411 253,826 61,290,237
Buildings,systems and improvements 522,552,947 12,278,897 - 534,831,844
Infrastructure 1,308,101 - - 1,308,101
Machinery and equipment 12,727,305 2,525,596 15,252,901
Furniture and fixtures 16,943 - - 16,943
Motor vehicles 91,348,967 10,762,336 3,844,104 98,267,199
Right-to-use leased assets 3,066,768 - - 3.066,768
Total capital assets being depreciated 692,057,442 25,820,655 3,844,104 714,033,993
Less accumulated depreciation for:
Land betterments 29,187,724 1,657,187 30,844,911
Buildings,systems and improvements 202,865,509 10,979,290 - 213,844,799
Infrastructure 78,486 17,503 - 95,989
Machinery and equipment 10,015,271 982,841 - 10,998,112
Furniture and fixtures 16,943 - - 16,943
Motor vehicles 58,632,836 5,845,991 3,635,482 60,843,345
Right-to-use leased assets 954,453 62,587 - 1,017,040
Total accumulated depreciation 301,751,222 19,545,399 3,635,482 317,661,139
Total capital assets being depreciated, net 390,306,220 6,275,256 208,622 396,372,854
Business-type activities capital
assets, net $412,285,064 510,198,969 $7,361,018 $415,123.015
Depreciation expense was charged to programs as follows:
Business-type activities:
Regional Airport $ 1,703,895
Kickapoo Airport 528,218
Transit 408,979
Sanitation 4,895,104
Water and sewer 10,979,665
Stormwater drainage 601,573
Waterpark 427,965
Total business-type depreciation $19.545,399
45
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 8 - PENSION PLANS
Eligible City employees participate in one of two pension plans. Eligible firefighters participate in the
Wichita Falls Firemen's Relief and Retirement Fund (WFFRRF). All other eligible employees participate
in the Texas Municipal Retirement System (TMRS).
The table below summarizes the amounts reported by the City for each plan as of September 30,
2025. Detailed information for each plan follows.
TMRS WFFRRF - Total
Net pension liability $42,767,111 $61,396,284 $104,163,395
Deferred outflows of resources 10,887,794 10,490,428 21,378,222
Deferred inflows of resources 4,140,817 19,999,002 24,139,819
Pension expense 9,148,683 5,259,245 14,407,928
Texas Municipal Retirement System
Plan Description
The City participates as one of more than 900 plans in the nontraditional, joint contributory,
hybrid defined benefit plan administered by the TMRS. TMRS is an agency created by the State of
Texas and administered in accordance with the TMRS Act, Subtitle G, Title 8, Texas Government
Code (the TMRS Act) as an agent multiple-employer retirement system for municipal employees
in the State of Texas. The TMRS Act places the general administration and management of the
System with a six-member Board of Trustees. Although the Governor,with the advice and consent
of the Senate, appoints the Board, TMRS is not fiscally dependent on the State of Texas. TMRS's
defined benefit pension plan is a tax-qualified plan under Section 401(a) of the Internal Revenue
Code. TMRS issues a publicly available Annual Comprehensive Financial Report(ACFR)that can be
obtained at www.tmrs.com.
All eligible employees of the City are required to participate in TMRS.
Benefits Provided
TMRS provides retirement, disability, and death benefits. Benefit provisions are adopted by the
City Council, within the options available in the governing state statutes of TMRS.
At retirement, the benefit is calculated as if the sum of the employee's contributions, with
interest, and the City-financed monetary credits with interest were used to purchase an annuity.
Members may choose to receive their retirement benefit in one of seven payment options.
Members may also choose to receive a portion of their benefit as a Partial Lump Sum Distribution
in an amount equal to 12, 24, or 36 monthly payments, which cannot exceed 75% of the
member's deposits and interest.
46
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 8 - PENSION PLANS(CONT'D.)
Employees Covered by Benefit Terms
At the December 31, 2024 valuation and measurement date, the following employees were
covered by the benefit terms:
Inactive employees or beneficiaries currently receiving benefits 808
Inactive employees entitled to but not yet receiving benefits 626
Active employees 1,033
Contributions
The contribution rates for employees in TMRS are either 5%, 6%, or 7% of employee gross
earnings, and the participating city matching percentages are either 100%, 150%, or 200%, both
as adopted by the governing body of the participating city. Under the state law governing TMRS,
the contribution rate for each city is determined annually by the actuary, using the Entry Age
Normal (EAN) actuarial cost method. The actuarially determined rate is the estimated amount
necessary to finance the cost of benefits earned by employees during the year, with an additional
amount to finance any unfunded accrued liability.
Employees of the City are required to contribute 7% of their annual gross earnings. The
contribution rates for the City were 16.18% and 16.5% in calendar years 2024 and 2025,
respectively. The City's contributions to TMRS for the year ended September 30, 2025, were
$10,323,019, and were equal to the required contributions.
Net Pension Liability
The City's Net Pension Liability (NPL) was measured as of December 31, 2024, and the Total
Pension Liability used to calculate the Net Pension Liability was determined by an actuarial
valuation as of that date.
Actuarial Assumptions
The Total Pension Liability in the December 31, 2024 actuarial valuation was determined using the
following actuarial assumptions:
Inflation 2.5% per year
Overall payroll growth 2.75%per year
Investment rate of return 6.75%, net of pension plan investment expense, including
inflation
Salary increases are based on a service-related table. Mortality rates for active members are
based on the PUB(10) mortality tables with the Public Safety table used for males and the General
Employee table used for females. Mortality rates for healthy retirees and beneficiaries are based
on the Gender-distinct 2020 Municipal Retirees of Texas mortality tables. The rates for actives,
healthy retirees and beneficiaries are projected on the fully generational basis by Scale UMP to
account for future mortality improvements. For disabled annuitants,the same mortality tables for
healthy retirees is used with a 4-year set-forward for males and a 3-year set-forward for females.
In addition, a 3.5% and 3.0% minimum mortality rate is applied, for males and females
respectively,to reflect the impairment for younger members who become disabled. The rates are
47
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 8 - PENSION PLANS(CONT'D.)
projected on a fully generational basis by Scale UMP to account for future mortality
improvements subject to the floor.
The actuarial assumptions were developed primarily from the actuarial investigation of the
experience of TMRS as of December 31, 2022. They were adopted in 2023 and first used in the
December 31, 2023 actuarial valuation. The post-retirement mortality assumption for Annuity
Purchase Rate (APRs) is based on the Mortality Experience Investigation Study covering 2009
through 2011 and dated December 31, 2013,
The long-term expected rate of return on pension plan investments is 6.75%. The pension plan's
policy in regard to the allocation of invested assets is established and may be amended by the
TMRS Board of Trustees. Plan assets are managed on a total return basis with an emphasis on
both capital appreciation as well as the production of income, in order to satisfy the short-term
and long-term funding needs of TMRS.
The long-term expected rate of return on pension plan investments was determined using a
building-block method in which best estimate ranges of expected future real rates of return
(expected returns, net of pension plan investment expense and inflation) are developed for each
major asset class. These ranges are combined to produce the long-term expected rate of return
by weighing the expected future real rates of return by the target asset allocation percentage and
by adding expected inflation. In determining their best estimate of a recommended investment
return assumption under the various alternative asset allocation portfolios, TMRS focused on the
area between (1) arithmetic mean (aggressive) without an adjustment for time (conservative) and
(2) the geometric mean (conservative) with an adjustment for time (aggressive). The target
allocation and best estimates of arithmetic real rates of return for each major asset class in fiscal
year 2024 are summarized in the following table:
Long-Term Expected Real
Asset Class Target Allocation Rate of Return (Arithmetic)
Global Equities 35% 7.70%
Core Fixed Income 6% 4.90%
Non-Core Fixed Income 20% 8.70%
Other Public and Private Markets 12% 8.10%
Real Estate 12% 5.80%
Absolute Return 5% 6.90%
Private Equity 10% 11.80%
Total 100%
Discount Rate
The discount rate used to measure the Total Pension Liability was 6.75%. The projection of cash
flows used to determine the discount rate assumed that employee and employer contributions will
be made at the rates specified in statute. Based on that assumption, the pension plan's Fiduciary
Net Position was projected to be available to make all projected future benefit payments of current
active and inactive employees. Therefore, the long-term expected rate of return on pension plan
investments was applied to all periods of projected benefit payments to determine the Total
Pension Liability.
48
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 8 - PENSION PLANS(CONT'D.)
Changes in Net Pension Liability
Increase(Decrease)
Total Pension Fiduciary Net Net Pension
Liability Position Liability
(a) (b) (a)—(b)
Balances as of December 31,2023 $340,922,526 $288,415,085 $52,507,441
Changes for the year:
Service cost 8,374,451 - 8,374,451
Interest on total pension liability 22,626,038 - 22,626,038
Change of benefit terms - - -
Difference between expected and
actual experience 3,166,185 3,166,185
Change of assumptions - - -
Contributions—employer - 9,996,812 ( 9,996,812)
Contributions—employee 4,217,349 ( 4,217,349)
Net investment income - 29,889,533 (29,889,533)
Benefit payments, including refunds
of employee contributions ( 19,818,368) ( 19,818,368) -
Administrative expenses - ( 192,194) 192,194
Other changes - 4,496) 4,496
Balances as of December 31,2024 $355,270,832 $312,503,721 $42,767,111
Sensitivity Analysis
The following presents the net pension liability of the City, calculated using the discount rate of
6.75%, as well as what the City's net pension liability/ (asset) would be if it were calculated using a
discount rate that is 1 percentage point lower(5.75%) or 1 percentage point higher(7.75%)than the
current rate.
1% Current 1%
Decrease Discount Rate Increase
5.75% 6.75% 7.75%
Net pension liability $88,537,112 $42,767,111 $4,888,792
Pension Expense, Deferred Outflows of Resources and Deferred Inflows of Resources
For the year ended September 30, 2025,the City recognized pension expense of$9,148,683 related
to its participation in TMRS.
49
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30,2025
Note 8 - PENSION PLANS(CONT'D.)
At September 30, 2025, the City reported deferred outflows of resources and deferred inflows of
resources related to TMRS from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and
actual experience $ 3,176,020 $Net difference in assumptions - 1,203,156
Net difference between projected and
actual earnings - 2,937,661
Contributions made subsequent to
measurement date 7,711,774 -
Total $10,887,794 54.140,817
$7,711,774 reported as deferred outflows of resources related to pensions resulting from
contributions subsequent to the measurement date will be recognized as a reduction of the net
pension liability for the City's fiscal year ending September 30, 2025 (plan year ending December 31,
2025). Other amounts reported as deferred outflows of resources and deferred inflows of resources
related to pensions will be recognized in pension expense as follows:
Plan Year Ended December 31:
2025 $1,197,317
2026 4,303,900
2027 ( 4,381,712)
2028 ( 2,084,302)
Total ($ 964,797)
Wichita Falls Firemen's Relief and Retirement Fund
Plan Description
The City provides pension benefits for all of its firefighters through a single-employer defined
benefit pension plan. The Wichita Falls Firemen's Relief and Retirement Fund operates under an
act passed in 1937 by the Texas State Legislature and adopted by the City's firefighters.
The stand-alone financial report for the Firemen's Relief and Retirement Fund can be obtained
from the City's Director of Finance/CFO at 1300 7th Street, Wichita Falls,Texas.
Benefits Provided
Benefits are determined on a "formula" or a "final salary" plan. A firefighter who qualifies for a
retirement benefit will receive monthly retirement equal to 2.55% (2.50% for those hired after
April 20, 2016) of the firefighter's average salary, multiplied by the member's years of credited
service. Benefits are calculated based upon a member's average salary for the 78 consecutive
biweekly pay periods which produce the highest average.
50
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 8 - PENSION PLANS(CONT'D.)
Members hired prior to April 21, 2016 can receive a service retirement at ages 50 and above with
20 or more years of service. Members hired after April 20, 2016 can receive a service retirement
at ages 55 and above with 20 or more years of service. Members are eligible for actuarially
reduced early retirement benefits before the applicable retirement age, provided the employee
has accrued at least 20 years of service. The plan also provides death and disability benefits.
Members who terminate their service and are nonvested are entitled to the excess of the
member's contributions over any benefits previously received.
The valuations used for this plan are based on a valuation performed as of January 1, 2024.
Employees Covered by Benefit Terms
Plan membership as of January 1, 2025:
Inactive employees or beneficiaries currently receiving benefits 148
Inactive employees entitled to but not yet receiving benefits 6
Active employees 154
Contributions
The contribution rate for the firefighters is 13% and the City contributes 16.5%. Both the
firefighters and City make contributions bi-weekly. Contribution requirements are not actuarially
determined, however, state law requires that each plan of benefits adopted by the Fund must be
approved by a qualified actuary. The actuary certifies that the contribution commitments by the
firefighters and the City provide an adequate financing arrangement. Using the individual entry
age normal cost method,the plan's normal cost is determined as a percentage of payroll.
The City's contributions to the Plan for the year ended September 30, 2025, were $3,533,237,
which exceeded required contributions by $1,000,000 as the City funded an additional
contribution of$1,000,000 in December 2024.
Net Pension Liability
The City's Net Pension Liability (NPL) was measured as of January 1, 2024, and the Total Pension
Liability used to calculate the Net Pension Liability was determined by an actuarial valuation as of
that date. The NPL related to Governmental Activities is generally liquidated by the General Fund
through annual contributions.
Actuarial Assumptions
The Total Pension Liability in the January 1, 2024, actuarial valuation was determined using the
following actuarial assumptions:
Inflation 2.5% per year
Salary increases Service-based
Discount Rate 5.67% per year
Investment rate of return 7.75%, net of pension plan investment expense, including
inflation
51
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 8 - PENSION PLANS(CONT'D.)
Mortality rates for employee and healthy annuitant combined rates were taken from the PubS-
2010 Mortality Tables. The mortality assumptions for all participants are sex distinct with
mortality improvement projected 5 years beyond the valuation date using scale MP-2020 and a
base year of 2010.
Actuarial assumptions used in the valuation were based on the results of actuarial experience
studies.The experience study was last performed October 4, 2022.
The long-term expected rate of return on pension plan investments was determined using a
method in which best estimate ranges of expected future real rates of return (expected returns,
net of pension plan investment expense and inflation) are developed for each major asset class.
These ranges are combined to produce the long-term expected rate of return by weighing the
expected future real rates of return by the target asset allocation percentage and by adding
expected inflation.
Best estimates of geometric real rates of return for each major class included in the Plan's target
asset allocation as of December 31, 2024 are summarized in the following table:
Long-Term Expected Real
Asset Class Target Allocation Rate of Return (Arithmetic)
Domestic Equity 45.00% 7.50%
International Equity 15.00% 8.50%
Domestic Fixed Income 20.00% 2.50%
Global Fixed Income 5.00% 3.50%
Private Real Estate 10.00% 4.50%
GTAA 5.00% 3.50%
Total 100.00%
Discount Rate
The projection of cash flows used to determine the discount rate assumed that current plan
member and sponsor contributions will be made at the current contribution rate. Future
member's contributions in excess of their normal cost were also included. Based on these
assumptions, the pension plan's Fiduciary Net Position was projected to provide future benefit
payments for 32 years. These payments were discounted using a discount rate of 7.50%. Future
benefit payments beyond 32 years were discounted using a high quality municipal bond rate of
4.28%. The high quality municipal bond rate was based on the week closest to, but not later than,
the measurement date of the S&P Municipal Bond 20 Year High Grade Rate Index. The single
equivalent discount rate was 6.38%.
52
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 8 - PENSION PLANS(CONT'D.)
Changes in Net Pension Liability
Increase (Decrease)
Total Pension Fiduciary Net Net Pension
Liability Position Liability
(a) (b) (a)—(b) ..
Balances as of December 31, 2023 $126,841,951 $55,255,221 $71,586,730
Changes for the year:
Service cost 2,809,468 - 2,809,468
Interest on total pension liability 7,163,068 7,163,068
Change of benefit terms - - -
Difference between expected and
actual experience 919,073 919,073
Change of assumptions ( 10,048,590) ( 10,048,590)
Contributions—employer - 3,313,807 ( 3,313,807)
Contributions—employee - 1,823,000 ( 1,823,000)
Net investment income - 6,008,411 ( 6,008,411)
Benefit payments, including refunds
of employee contributions ( 6,637,305) ( 6,637,305) -
Administrative expenses - ( 111,753) 111,753
Other - -
Balances as of December 31, 2024 S121,047,665 $59,651,381 $61,396,284
Sensitivity Analysis
The following presents the net pension liability of the City, calculated using the discount rate of
6.38%, as well as what the City's net pension liability/ (asset) would be if it were calculated using
a discount rate that is 1 percentage point lower(5.38%) or 1 percentage point higher(7.38%)than
the current rate.
1% Current 1%
Decrease Discount Rate Increase
5.38% 6.38% 7.38%
Net pension liability $75,935,078 $61,396,284 $49,205,464
Pension Expense, Deferred Outflows of Resources and Deferred Inflows of Resources
For the year ended September 30, 2025, the City recognized pension expense of$5,259,245 related
to the Wichita Falls Firemen's Relief and Retirement Fund.
Pension Plan Fiduciary Net Position
Detailed information about the pension Plan's Fiduciary Net Position is available in the separately
issued Plan financial report.
53
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 8 - PENSION PLANS(CONT'D.)
At September 30, 2025, the City reported deferred outflows of resources and deferred inflows of
resources related to the WFFRRF from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and
actual experience $ 2,296,447 $ 1,341,192
Difference due to changes in actuarial
Assumptions 5,933,986 18,657,810
Net difference between projected and
actual earnings 284,259
Contributions made subsequent to
measurement date 1,975,736
Total $10,490,428 $19,999,002
$1,975,736 reported as deferred outflows of resources related to pensions resulting from
contributions subsequent to the measurement date will be recognized as a reduction of the net
pension liability for the City's fiscal year ending September 30, 2025 (plan year ending December 31,
2025). Other amounts reported as deferred outflows of resources and deferred inflows of resources
related to pensions will be recognized in pension expense as follows:
Plan Year Ended December 31:
2025 ($ 298,222)
2026 ( 1,737,417)
2027 ( 5,364,808)
2028 ( 1,380,770)
2029 ( 1,309,454)
Thereafter ( 1,393,639)
Total ($11,484,310)
Change in Assumptions
The calculation of the Total Pension Liability as of December 31, 2024, measurement date reflects an
increase in the discount rate from 5.67%to 6.38%.
Note 9 - POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
Plan Description
The City administers the City of Wichita Falls Retiree Health Care Plan for all permanent employees
who retire after satisfying eligibility retirement requirements through a single-employer defined
benefit plan. All employees who retire and are actively in one of the City's health plans can continue
to receive health care benefits under the City's plan for themselves and any dependents for as long
as the retiree and/or dependents live. The plan does not issue a stand-alone financial report.
54
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 9 - POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS(CONT'D.)
Retiree Premiums
Pre-Medicare: Retirees share in the cost of the Plan by paying premiums according to the following
schedule:
Medicare
Under 65 Core CATA HIDD Supplement
Retirees $ 673 $ 506 $ 464 $475
Retiree+Spouse $2,230 $1,753 $1,662 $950
Post-Medicare: Eligible retirees and spouses on Medicare are eligible to participate in a Medicare
supplement health care plan. Effective January 1, 2011, the following changes were implemented to
Medicare eligible retirees:
For retirees and spouses who were on Medicare as of January 1, 2009, the City will provide $250
in premium assistance towards the full premium for a Medicare subsidy program. The $250 is
expected to be a fixed amount.
For retirees and spouses retired as of January 1, 2009 but not yet Medicare-eligible, the City will
provide $100 in premium assistance towards the full premium for a Medicare subsidy program.
The$100 is expected to be a fixed amount.
For members who retire on or after January 1, 2009, the City will provide no premium assistance
once Medicare-eligible.
Life Insurance Coverage
General employees and Firefighters receive $7,500 of employer-paid life insurance which is included
in the liabilities of the Plan. No life insurance coverage is provided for spouses of retirees.
Retirees may purchase an additional $2,500 of life insurance for$2 per month.
Other Benefits
Retiree dental and vision coverages are available. Retirees pay 100%of dental and vision coverage.
Employees Covered by Benefit Terms
At the December 31, 2024 measurement date, the following employees were covered by the benefit
terms:
Inactive plan members or beneficiaries currently receiving benefits 786
Inactive plan members entitled to but not yet receiving benefits -
Active plan members 1,188
55
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 9 - POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS(CONT'D.)
Actuarial Assumptions
The demographic assumptions are based on the assumptions that were developed for the defined
benefit plans in which the City participates (TMRS and the Firemen's Pension Plan). The TMRS
assumptions are based on the experience study covering the four-year period ending December 31,
2018 as conducted for TMRS. The firefighter assumptions are based on the January 1, 2020 Valuation
for the Wichita Falls Firemen's Relief and Retirement Fund.
Actuarial Methods and Assumptions
Valuation Date December 31, 2024
Actuarial Cost Method Entry age, level percent of salary
Discount Rate 6.75%as of December 31, 2024
Inflation 2.25%
Salary Increases 2.75%per annum
Demographic Assumptions TMRS: Based on the experience study covering the four-year
period ending December 31, 2022 as conducted for TMRS.
Based on the January 1, 2020 valuation for the Wichita Falls
Firemen's Relief and Retirement Fund.
Mortality Non-annuitants: Sex distinct headcount weighed PUB-2010
general and safety employees mortality tables recently
published by the Society of Actuaries in conjunction with the
mortality improvement scale MP-2021.
Annuitants: Sex distinct headcount weighed PUB-2010 general
retirees mortality tables recently published by the Society of
Actuaries in conjunction with the mortality improvement
scale MP-2021.
Participation Rates 45% of participants are assumed to elect coverage if they
retire at age of 49 or later.
Healthcare Cost Trend Rates Initial rate of 5.92% declining to ultimate rate of 4.14% in the
year 2041
Discount Rate
The discount rate and expected rate of return on plan assets were 6.75%.
56
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONTD.)
SEPTEMBER 30,2025
Note 9 - POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS(CONT'D.)
Changes in Net OPEB Liability
Increase(Decrease)
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability
(a) (b) l�L)
Balances as of December 31,2023 $24,456,777 $14,579,602 $ 9,877,175
Changes for the year:
Service cost 758,684 - 758,684
Interest on total OPEB liability 1,652,092 - 1,652,092
Change of benefit terms - -
Difference between expected and
actual experience 2,015,235 - 2,015,235
Change of assumptions - -
Contributions—employer 488,861 ( 488,861)
Contributions—employee - -Net investment income - 1,558,213 ( 1,558,213)
Benefit payments, including refunds
of employee contributions ( 1,480,020) ( 1,480,020) -
Administrative expenses - -Other changes - - -
Balances as of December 31,2024 527,402,768 515,146,656 $12,256,112
Discount Rate Sensitivity Analysis
The following schedule shows the impact of the net OPEB liability if the discount rate used was 1%
less than and 1% greater than the discount rate that was used (6.75%) in measuring the net OPEB
liability.
Current
1% Discount 1%
Decrease Rate Increase
5.75% 6.75% 7.75%
5_13,354,136 $12,256,111 $11,291,433
The following schedule presents the net OPEB liability of the plan using the assumed healthcare cost
trend rate as well as what the net OPEB liability would be if it were calculated using a trend ratio that
is 1% less than and 1%greater than the assumed healthcare cost trend rate:
Current
Healthcare
1% Cost Trend 1%
Decrease Rate Increase
4.92% 5.92% 6.92%
$11,386,540 512.256,111 $13,284,031
For Governmental Activities,the net OPEB liability is generally liquidated by the General Fund.
57
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 9 - POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS(CONT'D.)
OPEB Expense, Deferred Outflows of Resources and Deferred Inflows of Resources
For the year ended September 30, 2025, the City recognized OPEB expense of$1,168,283 related to
the City of Wichita Falls Retiree Health Care Plan.
At September 30, 2025, the City reported deferred outflows of resources and deferred inflows of
resources related to the City of Wichita Falls Retiree Health Care Plan from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and
actual experience, liability $1,777,438 $ -
Difference due to changes in actuarial
assumptions 33,244 139,508
Differences between expected and
actual experience, assets 2,769,444
Contributions made subsequent to
measurement date 1,110,015 -
Total $2,920,697 $2,908,952
$1,110,015 reported as deferred outflows of resources related to OPEB resulting from contributions
subsequent to the measurement date will be recognized as a reduction of the net OPEB liability for
the City's fiscal year ending September 30, 2025 (plan year ending December 31, 2025). Other
amounts reported as deferred outflows of resources and deferred inflows of resources related to
OPEB will be recognized in OPEB expense as follows:
Year Ended September 30:
2025 ($ 415,252)
2026 ( 297,415)
2027 (- 738,043)
2028 263,815
2028 88,625
Total ($1,098,270)
Note 10 - DEFERRED COMPENSATION PLAN
The City offers its employees a deferred compensation plan created in accordance with Internal
Revenue Code Section 457. The plan, available to all City employees, permits them to defer a portion
of their salary until future years. The deferred compensation is not available to the employees until
termination, retirement, death, or an unforeseen emergency.
58
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 11 - LANDFILL AND TRANSFER STATION CLOSURE AND POSTCLOSURE CARE COSTS
State and federal laws and regulations require that the City place a final cover on its landfill when
closed, and perform certain maintenance and monitoring functions at the landfill site for thirty years
after closure. In accordance with the Texas Administrative Code, Title 30, Part 1, Chapter 7, the City
annually submits a financial assurance letter to the Texas Commission on Environmental Quality
(TCEQ). In addition to operating expenses related to current activities of the landfill, an expense
provision and related liability are being recognized based on the future closure and postclosure care
costs that will be incurred near or after the date the landfill no longer accepts waste. The recognition
of these landfill closure and postclosure care costs is based on the amount of the landfill used during
the year. The estimated liability for landfill closure and postclosure care costs has a balance of
$7,596,138 as of September 30, 2025, which is based on 26% usage of the landfill. The City will
recognize the remaining estimated cost of closure and postclosure care of $21,551,832 as the
remaining estimated capacity is filled. The landfill is expected to be filled to capacity in 2153.
Additionally, the City has recorded a liability of$85,576 for closure and postclosure care costs related
to the City's transfer station. Actual costs may be higher due to inflation, change in technology, or
changes in regulations.
Note 12 - LONG-TERM LIABILITIES
Long-term liabilities transactions for the year ended September 30, 2025 are summarized as follows:
Restated
Balance at Balance at
October 1, Retired and September 30, Due Within
2024 Issued Transferred 2025 One Year -
Governmental Activities:
General obligation bonds $21,238,128 $ - $2,907,544 $ 18,330,584 $2,950,946
Combination tax and revenue bonds 10,485,000 - 1,030,000 9,455,000 1,060,000
Venue tax revenue bonds 2,480,000 - 55,000 2,425,000 60,000
Premiums on bonds 990,996 •
202,141 788,855
Right-to-use lease liabilities 1,118,787 261,509 857,278 273,277
Subscription liabilities 562,787 173,818 388,969 186,546
Accrued vacation and sick
leave* 13,174,008 1,165,090 - 14,339,098 3,000,000
Notes payable 2,251,238 - 167,159 2,084,079 181,570
Claims and judgments payable 762,657 616,724 656,542 722,839 48,780
Total governmental activities 53,063,601 1,781,814 5,453,713 49,391,702 7,761,119
Business-type Activities:
General obligation bonds 5,101,872 357,456 4,744,416 69,054
Utility system revenue bonds,
net of premium(discount) 21,415,000 - 9,275,000 12,140,000 9,705,000
Combination tax and revenue bonds 26,220,000 1,655,000 24,565,000 1,690,000
Premiums on bonds 1,030,714 605,444 425,270
Accrued vacation and sick
leave * 2,105,664 - 27,383 2,078,281 675,000
Notes payable 21,294,880 - 1,744,916 19,549,964 1,772,597
Right-to-use lease liabilities 2,819,467 31,302 2,788,165 33,400
Landfill closure, post-closure costs 7,332,168 349,546 7,681,714
Total business-type activities 87,319,765 349,546 13,696,501 73,972,810 13,945,051
Total long-term liabilities $140,383,366 $2,131.360 519.150.214 S123,364,512 $21,706,170
* Increases or decreases in accrued vacation and sick leave represent the net change in the liability.
59
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONTD.)
SEPTEMBER 30,2025
Note 12 - LONG-TERM LIABILITIES(CONTD.)
For governmental activities, claims and judgments payable are generally liquidated by the General
Fund.
Bonds Payable
Bonds payable as of September 30, 2025 are comprised of the following individual issues:
Range of Final Annual Bonds
Interest Maturity Serial Bonds Outstanding
Rates Date Payments Authorized At 9/30/25
General Obligation Bonds:
General Obligation Refunding 2.00%- 9/01/26 $200,000 to $9,650,000 $ 1,105,000
Bonds,Series 2015A 5.00% $1,105,000
General Obligation Refunding 0.73%- 9/01/26 $110,000 to 2,885,000 310,000
Bonds,Series 2015E 3.48% $310,000
General Obligation Bonds, 2.00%- 9/01/38 $550,000 to 16,345,000 12,005,000
Series 2018A 5.00% $1,155,000
General Obligation Refunding 2.00%- 10/01/28 $80,000 to 6,170,000 2,735,000
Bonds,Series 2018B 4.00% $725,000
General Obligation Refunding 4.00% 9/01/31 $140,000 to 1,675,000 1,080,000
Bonds,Series 2021 $195,000
General Obligation Refunding 0.40%- 9/01/33 $85,000 to 7,595,000 5,840,000
Bonds,Taxable Series 2021 2.03% $865,000
Total General Obligation Bonds 23,075,000
Combination Tax and Revenue Bonds:
Combination Tax and Revenue 2.00%- 9/01/33 $530,000 to 19,875,000 9,455,000
Certificates of Obligation, Series 2013 3.375% $1,315,000
Combination Tax and Revenue 2.00%- 9/01/33 $505,000 to 13,000,000 675,000
Certificates of Obligation, Series 4.625% $905,000
2013A
Combination Tax and Revenue 0.00%- 3/01/45 $890,000 to 33,545,000 23,890,000
Certificates of Obligation, Series 2015 2.12% $1,425,000 _
Total Combination Tax and Revenue
Bonds 34,020,000
Revenue Bonds:
Water&Sewer System Revenue 2.00%- 8/01/27 $2,635,000 to 74,005,000 12,140,000
Refunding Bonds,Series 2016 5.00% $9,705,000
Venue Tax Revenue Bonds, 4.00% 9/01/50 $45,000 to 2,680,000 2,425,000
Series 2020 $150,000
Total Revenue Bonds 14,565,000
Total All Bonds S71.660.000
60
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CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 12 - LONG-TERM LIABILITIES(CONT'D.)
All of the General Obligation Bonds were issued on the full faith and credit of the City and are secured
by ad valorem taxes levied against all taxable property. These bonds are serviced by the Debt Service
Fund with an apportionment of the ad valorem tax levy. At September 30, 2025, this fund had a fund
balance of$2,068,295.
The Combination Tax and Revenue Bonds are secured by ad valorem taxes levied against all taxable
property as well as a pledge of surplus net revenues of the City's combined waterworks and sewer
system. The Series 2010 and 2011 Certificates will be serviced by the Debt Service Fund by
contributions from the Wichita Falls 4B Economic Development Corporation. The Series 2016
Certificates will be serviced by the net revenues of the Water and Sewer Fund, as well as the Series
2010 Combination Tax and Revenue Refunding Certificates. A portion of the Series 2013 General
Obligation Refunding Bonds will also be serviced by these net revenues.
The Venue Tax Revenue Bonds were issued for the purpose of improving the City's MPEC and
Memorial Auditorium facilities and are serviced by an additional hotel/motel tax designated for these
purposes.
All of the Water and Sewer Revenue Bonds were issued for purposes of improving the City's water and
sewer systems and are serviced by the net revenues of the Water and Sewer Fund.
Notes Payable
Banc of America Public Capital Corp. — Water Meters
The City entered into a financing agreement in 2016 to finance the replacement of all of the City's
water meters. The total amount financed was $16,506,103. These assets are listed under "Buildings,
systems and improvements" in Business-type Activities. The agreement carries an interest rate of
3.23%and is for a period of 20 years,with final payment due in fiscal year 2036.
Signature Public Funding Corp. —Fire Equipment
The City issued a financing agreement in 2024 for the purchase of fire department equipment in the
amount of $9,920,692. These assets are listed under "Motor vehicles" in Business-type Activities.
This agreement carries an interest rate of 1.78% and is for a period of 11 years with final payment
due in fiscal year 2034.
AMERESCO Inc. —Street Lights
The City entered into a financing agreement in 2018 to finance the conversion of the City's street
lights to more energy-efficient LED lights. These assets are listed under "Infrastructure" in
Governmental Activities. This agreement carries an interest rate of 3.45% and is for a period of 15
years,with final payment due in fiscal year 2034.
63
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30, 2025
Note 12 - LONG-TERM LIABILITIES(CONT'D.)
Right-to-Use Lease Liabilities
Regional Airport—Land Lease
The Regional Airport facilities are located on land at Sheppard Air Force Base. The land is leased
from the Department of the Air Force for a period of fifty years, beginning May 15, 2009 and expiring
May 14, 2059, The lease payment increases by 3% per year with a final lease payment of$157,805 in
2058. The total value of assets under this agreement was$3,066,768,with accumulated amortization
of$954,453 as of September 30, 2025. An interest rate of 1% is imputed for this lease agreement.
Axon—Body-worn Cameras
The City entered into a right-to-use lease in 2024 for body-worn camera equipment. The agreement
called for annual payments over the 5-year term of the agreement totaling $1,559,273. The total
value of assets under this agreement was $1,430,641, with accumulated amortization of$559,393 as
of September 30, 2025. An interest rate of 4.5% is imputed for this lease agreement.
Subscription Liabilities
The City has multiple subscription-based information technology agreements (SBITAs). An interest
rate of 4.50% has been used in calculating the total present value of the agreements at inception, as
well as annual interest expense on each agreement.
Aqua-Metric Sales Co. —Automated Meter Reading System
The City entered into a SBITA in 2016 for software related to an automated water meter reading
system. The agreement called for annual payments over the 10-year term of the agreement totaling
$771,061.
Patagonia Health Inc. —Electronic Health Record Software
The City entered into a SBITA in 2024 for electronic health record software for use by the Health
Department. This agreement includes 58 monthly payments of$3,870 in addition to implementation
costs of$41,325,for total payments of$265,785.
UB Holdings, LLC—VenueOps Software for MPEC
The City entered into a SBITA in 2024 for software for use by the MPEC. This agreement includes 3
annual payments totaling$76,850.
Hedgerow Software US, Inc. —Environmental Software for Health Department
The City entered into a SBITA in 2024 for software for use by the Health Department.This agreement
includes 5 annual payments each of$42,000 in addition to implementation costs of$40,000,for total
payments of$250,000.
64
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 13 - INTERFUND BALANCES
Transfers to and from other funds during the year ended September 30, 2025 were as follows:
Transfers From Transfers To Amount Reason
General Fund Nonmajor Governmental Funds $ 125,617 Supplement operating grants
General Fund Nonmajor Governmental Funds 614,471 Supplement operating deficits
General Fund Nonmajor Enterprise Funds 367,318 Supplement operating deficits
General Fund Internal Service Funds 158,308 Purchase capital assets
Nonmajor Governmental Funds Nonmajor Governmental Funds 941,644 Fund debt service payment
Nonmajor Governmental Funds Internal Service Funds 1,309,490 Purchase capital assets
Water and Sewer Fund General Fund 1,993,442 Administrative overhead
Water and Sewer Fund Nonmajor Governmental Funds 154,500 Fund debt service payment
Water and Sewer Fund Internal Service Funds 762,728 Purchase capital assets
Sanitation Fund General Fund 1,031,249 Administrative overhead
Sanitation Fund Internal Service Funds 4,316,845 Purchase capital assets
Stormwater Drainage Fund Nonmajor Governmental Funds 407,050 Fund debt service payment
Stormwater Drainage Fund Internal Service Funds 350,459 Purchase capital assets
Nonmajor Enterprise Funds Internal Service Funds 1,190,270 Purchase capital assets
Internal Service Funds General Fund 312,000 Administrative overhead
Total $14.035.391
Balances due to and from other funds as of September 30, 2025 were as follows:
Due To Fund Due From Fund Amount Purpose
General Fund Nonmajor Governmental Funds $3,918,151 Short-term loan
General Fund Nonmajor Enterprise Funds 2,832,887 Short-term loan
General Fund Internal Service Funds 462,283 Short-term loan
Total S7,213,321
All amounts due are scheduled to be repaid within one year,
65
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 14 - CONDENSED FINANCIAL INFORMATION FOR DISCRETELY PRESENTED
COMPONENT UNITS
The City has five component units that are discretely presented in the City's basic financial
statements. Condensed financial information for the year ended September 30, 2025 is as follows:
Wichita Falls Wichita Falls
Economic 4BSales
Development Tax _ Wichita Falls Reinvestment
Corporation Corporation Zone#2 Zone#3 Zone#4 Totals
Condensed statement of net position:
Cash,investments and other
current assets $21,736,144 $14,888,023 $3,759,070 $1,594,306 $1,919,832 $43,897,375
Capital assets,net of accumulated
depreciation 12,357,834 16,332,938 - - 28,690,772
Total assets 34,093,978 31,220,961 3,759,070 1,594,306 1,919,832 72,588,147
Accounts payable and other
current liabilities 35,000 28,750 1,894 - 65,644
Long-term liabilities 9,178,810 17,065,000 26,243,810
Total liabilities 9,213,810 17,093,750 1,894 26,309,454
Net position 524.880.168 514.127.211 $3,759,070 51.592.412 $1,919,832 546,278,693
Condensed statement of activities:
Expenses:
Community development $ 8,947,064 $ 7,455,012 $1,176,584 $ - $ - $17,578,660
Program revenues:
Operating grants and contributions - 719,047 - - 719,047
Net program expense ( 8,947,064) ( 6,735,965) (1,176,584) (16,859,613)
General revenues:
Tax revenues 5,258,905 5,258,905 838,703 170,255 412,228 11,938,996
Non-tax general revenues 2,950,850 892,536 83,178 75,371 18,309 4,020,244
Total general revenues 8,209,755 6,151,441 921,881 245,626 430,537 15,959,240
Change in net position (737,309) (584,524) (254,703) 245,626 430,537 (900,373)
Beginning net position 25,617,477 14,711,735 4,013,773 1,346,786 1,489,295 47,179,066
Ending net position $24,880,168 $14,127,211 $3,759.074 5i.,592.412 $1,919,832 $46,278,693
66
CITY OF WICHITA FALLS,TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONTD.)
SEPTEMBER 30, 2025
Note 15 - TAX ABATEMENT AGREEMENTS
The City has approved value limitation agreements with companies for a limitation on the appraised
value of properties within the City pursuant to Chapter 312 of the Texas Tax Code, as amended, i.e.,
the Property Tax Abatement Act. Under these agreements, the City has agreed to abate varying
amounts of property taxes levied on qualified improvements during the abatement period. These
abatements may be granted to businesses that construct improvements within certain areas
designated by the Mayor and City Council.
For the fiscal year ended September 30, 2025, the City abated property taxes totaling $1,821,442
under this program and received payments in lieu of taxes totaling$1,726,189.
Note 16 - COMMITMENTS AND CONTINGENCIES
Litigation
The City is a defendant in various lawsuits. In the opinion of the City's management, any unrecorded
liabilities resulting from such suits will not materially affect the financial position of the City.
Contract Commitment with West Texas Utilities Company
In 1977,the City and Wichita County Water Improvement District Number 2 entered into a sixty-year
contract with the West Texas Utilities Company(Company) and agreed to provide an adequate water
supply for the Company's use in generating power upon completion of the Company's construction
of a power plant adjacent to the Lake Kemp-Lake Diversion System.
The significant terms of the contract provide for standby charges to be paid to the City and the
Wichita County Water Improvement District Number 2 in equal amounts. Minimum charges for the
calendar year 1997 and all years thereafter until the end of contract will be$500,000 per year.
For water actually consumed, the Company shall pay the City and Wichita County Water
Improvement District Number 2 equally, at the base rate of$0.23 per one thousand gallons, which is
adjusted annually. The rate for the year ended September 30, 2025 was$.404046 per one thousand
gallons.
This contract can be terminated at any time by the Company. If the contract is terminated, the
Company is required to make a maximum termination payment equal to the minimum charges which
would have become due and payable during the following twenty-four month period.
In December 2021,this contract was assumed by Oklaunion Industrial Park, LLC.
67
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 16 - COMMITMENTS AND CONTINGENCIES(CONT'D.)
Contract Commitments
At September 30, 2025, the City was committed to various contracts. The amounts for which the
various funds are committed to complete these contracts are as follows:
General Fund $ 1,172,699
ARPA Fund 5,444,113
Nonmajor Governmental Funds 2,211,493
Water and Sewer Fund 2,889,896
Stormwater Drainage Fund 2,639,068
Total contract commitments City $14.357,269
Total contract commitments—Component Units $898,128
Federal and State Grants -Compliance Audits
The City participates in numerous Federal and State grants, on both a direct and state pass-through
basis, as well as on a service-provider basis. Principal among these are Community Development
Block Grants, Section 8 Housing Assistance, Home Investment Partnership Agreement Program, and
numerous health-related grants.
In connection with these grants,the City is required to comply with specific terms and agreements as
well as applicable Federal and State laws and regulations. Such compliance is subject to review and
audit by the grantors and their representatives.
In the opinion of management, the City has complied with all requirements. However, since such
programs are subject to future audit or review, the possibility of disallowed expenditures exists. In
the event of any disallowance of claimed expenditures, the City expects the resulting liability to be
immaterial.
Note 17 - ERROR CORRECTION
During the year ended September 30, 2025, the City discovered an error in the amounts reported as
of September 30, 2024. A right-to-use leased asset and the related liability was not included in
Governmental Activities. The result of this error was a decrease to the beginning net position of
Governmental Activities in the amount of $154,954. Additionally, an error was made in the capital
assets of the Internal Service Funds that resulted in a decrease to the beginning net position in the
amount of$249,484.
68
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS(CONT'D.)
SEPTEMBER 30,2025
Note 18 - CHANGE IN ACCOUNTING PRINCIPLE
During the year ended September 30, 2025, the City adopted GASB Statement No. 101,
Compensated Absences. This adoption led to an adjustment to the liability recognized for vacation
and sick leave that is estimated to be used by employees in the future. This change in accounting
principle resulted in decreases in beginning net position of $1,124,315 and $1,084,125 in
Governmental Activities and Business-type Activities, respectively. This change also decreased the
beginning net position of the Water and Sewer Fund ($545,136), Sanitation Fund ($261,753),
Stormwater Drainage Fund ($24,204), Nonmajor Enterprise Fund ($163,308) and Internal Service
Funds ($195,248).
Note 19 - SUBSEQUENT EVENTS
On October 15, 2025, the Wichita Falls Economic Development Corporation (WFEDC) acquired the
Sikes Senter Mall at 3111 Midwestern Parkway for$27,500,000. The acquisition is part of a strategic
initiative for commercial redevelopment.The purchase was funded through $18,000,000 in external
financing which consisted of a 2-year term loan at 6.15% interest. Additionally, an inter-fund loan of
$3.5M from the 4B Sales Tax Corporation was utilized and subsequently repaid in full by
November.The WFEDC has entered into a management agreement with Forward Wichita Falls to
oversee operations through the transition and lead marketing efforts for the site's redevelopment.
As of the date of these financial statements, the Corporation has not entered into any formal
agreements for the sale or long-term lease of the property.
On October 31, 2025, the Wichita Falls Economic Development Corporation (WFEDC) sold
approximately 225 acres of land and the associated mineral rights of the property within the
Wichita Falls Business Park to Texas Data Centers Campus LLC (an entity of Skybox Datacenters) for
$14,891,275. Skybox intends to use the site to develop a new data center campus, with
construction anticipated to commence in 2026.
69
REQUIRED SUPPLEMENTARY INFORMATION
EXHIBIT B-1
CITY OF WICHITA FALLS, TEXAS
REQUIRED SUPPLEMENTARY INFORMATION
BUDGETARY COMPARISON SCHEDULE -GENERAL FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Variance With
Final Budget-
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 88,888,727 $ 88,888,727 $ 89,279,117 $ 390,390
Charges for services 3,140,916 3,140,916 3,364,511 223,595
Licenses and permits 2,131,224 2,131,224 1,896,041 (235,183)
Fines and forfeitures 3,087,200 3,087,200 3,338,437 251,237
Contributions 232,500 2,332,500 2,419,531 87,031
Miscellaneous revenue 7,656,290 7,656,290 5,686,997 (1,969,293)
Total revenues 105,136,857 107,236,857 105,984,634 (1,252,223)
Expenditures:
Current:
Administrative services 16,608,190 17,828,291 17,462,015 366,276
Police 35,122,374 35,125,149 35,131,158 (6,009)
Fire 23,120,363 24,171,676 23,782,573 389,103
Parks and recreation 10,738,875 13,025,772 11,550,440 1,475,332
Accounting/finance 2,465,734 2,489,693 2,440,324 49,369
Community development 2,851,425 2,873,925 2,700,080 173,845
Public works 8,979,899 11,953,859 9,693,911 2,259,948
Health 4,645,517 4,767,093 4,485,027 282,066
Traffic and transportation 3,186,046 3,375,456 2,347,148 1,028,308
Total expenditures 107,718,423 115,610,914 109,592,676 6,018,238
Excess of revenues over(under) expenditures (2,581,566) (8,374,057) (3,608,042) 4,766,015
Other financing sources(uses):
Transfers in 3,336,691 3,336,691 3,336,691
Transfers out (755,127) (755,127) (1,247,955) (492,828)
Total other financing sources(uses) 2,581,564 2,581,564 2,088,736 (492,828)
Excess of revenues and other sources
over(under)expenditures and other uses (2) (5,792,493) (1,519,306) 4,273,187
Fund balance-beginning 50,854,754 50,854,754 50,854,754
Fund balance-ending $ 50,854,752 $ 45,062,261 $ 49,335,448 $ 4,273,187
70
CITY OF WICHITA FALLS, TEXAS
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIOS
TEXAS MUNICIPAL RETIREMENT SYSTEM
2024 2023 2022 2021
Total Pension Liability
Service cost $ 8,374,451 $ 7,724,088 $ 7,290,057 $ 6,571,147
Interest on total pension liability 22,626,038 22,017,837 21,000,865 20,199,933
Changes of benefit terms - - -
Difference between expected and
actual experience 3,166,185 1,137,336 4,338,549 937,276
Changes of assumptions - (3,012,418) - -
Benefit payments/refunds of
contributions (19,818,368) (18,544,887) (17,015,598) (15,388,693)
Net change in total pension liability 14,348,306 9,321,956 15,613,873 12,319,663
Total pension liability, beginning 340,922,526 331,600,570 315,986,697 303,667,034
Total pension liability, ending (a) $355,270,832 $ 340,922,526 $331,600,570 $315,986,697
Fiduciary Net Position
Contributions-employer $ 9,996,812 $ 9,040,321 $ 8,622,779 $ 7,844,017
Contributions-employee 4,217,349 3,909,517 3,673,895 3,311,593
Net investment income 29,889,533 30,462,384 (21,100,627) 33,864,112
Benefit payments/refunds of
contributions (19,818,368) (18,544,887) (17,015,598) (15,388,693)
Administrative expenses (192,194) (194,195) (182,885) (156,861)
Other (4,496) (1,356) 218,235 1,072
Net change in fiduciary net position 24,088,636 24,671,784 (25,784,201) 29,475,240
Fiduciary net position, beginning 288,415,085 263,743,301 289,527,502 260,052,262
Fiduciary net position, ending(b) $ 312,503,721 $ 288,415,085 $263,743,301 $289,527,502
Net pension liability, ending= (a) - (b) $ 42,767,111 $ 52,507,441 $ 67,857,269 $ 26,459,195
Fiduciary net position as a %of total
pension liability 87.96% 84.60% 79.54% 91.63%
Covered payroll $ 60,247,849 $ 55,850,239 $ 52,484,212 $ 47,308,476
Net pension liability as a% of
covered payroll 70.99% 94.01% 129.29% 55.93%
71
EXHIBIT B-2
2020 2019 2018 2017 2016 2015
$ 6,472,668 $ 6,447,967 $ 4,990,566 $ 4,917,413 $ 2,466,531 $ 4,697,339
19,539,894 18,913,918 17,400,438 16,873,140 16,126,720 16,093,246
12,613,317 - - -
(1,175,031) (1,475,630) 540,881 (1,117,057) 3,641,511 203,406
- (26,378) - 1,340,184
(14,828,151) (14,368,878) (13,335,060) (12,461,447) (12,342,806) (12,073,025)
10,009,380 22,104,316 9,596,825 8,212,049 9,891,956 10,261,150
293,657,654 271,553,338 261,956,513 253,744,464 243,852,508 233,591,358
$303,667,034 $293,657,654 $ 271,553,338 $ 261,956,513 $ 253,744,464 $243,852,508
$ 7,598,124 $ 5,913,578 $ 5,783,625 $ 5,565,648 $ 5,339,437 $ 5,639,053
3,257,273 2,590,541 2,558,451 2,470,741 2,494,525 2,497,984
18,618,015 33,663,780 (6,883,878) 28,538,620 13,331,438 296,795
(14,828,151) (14,368,878) (13,335,060) (12,461,447) (12,342,806) (12,073,025)
(120,598) (190,372) (133,122) (147,954) (150,608) (180,789)
(4,705) (5,719) (6,955) (7,498) (8,114) (8,931)
14,519,958 27,602,930 (12,016,939) 23,958,110 8,663,872 (3,828,913)
245,532,304 217,929,374 229,946,313 205,988,203 197,324,331 201,153,244
$ 260,052,262 $ 245,532,304 $217,929,374 $ 229,946,313 $205,988,203 $ 197,324,331
$ 43,614,772 $ 48,125,350 $ 53,623,964 5 32,010,200 5 47,756,261 $ 46,528,177
85.64% 83.61% 80.25% 87.78% 81.18% 80.92%
$ 46,532,477 $ 46,321,599 $ 45,081,895 5 44,380,980 $ 44,793,885 $ 45,036,746
93.73% 103.89% 118.95% 72.13% 106.61% 103.31%
CITY OF WICHITA FALLS, TEXAS
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
TEXAS MUNICIPAL RETIREMENT SYSTEM
2025 2024 2023 2022
Actuarial determined contribution $ 10,323,019 $ 9,713,387 $ 8,844,724 $ 8,805,755
Contributions in relation to the actuarially
determined contribution (10,323,019) (9,713,387) (8,844,724) (8,805,755)
Contribution deficiency
Covered payroll $ 63,869,937 $ 59,147,881 $ 54,472,026 $ 53,500,680
Contributions as a percentage of covered payroll 16.16% 16.42% 16.24% 16.46%
Valuation Date:
Actuarially determined contribution rates are calculated as of December 31 and become effective 13 months later.
Methods and Assumptions Used to Determine Contribution Rates:
Actuarial Cost Method Entry Age Normal
Amortization Method Level Percentage of Payroll,Closed
Remaining Amortization Period 21 years(longest amortization ladder)
Asset Valuation Method 10 Year smoothed market; 12%soft corridor
Inflation 2.5%
Salary Increases 3.60%to 11.85%including inflation
Investment Rate of Return 6.75%
Retirement Age Experience-based table of rates that vary by ages. Last updated for
the 2023 valuation pursuant to an experience study of the period
ending 2022.
Mortality Post-retirement: 2019 Municipal Retirees of Texas Mortality Tables.
Male rates are multiplied by 103% and female rates are multiplied
by 105%. The rates are projected on a fully generational basis with
scale MP-2021(with immediate convergence).
Pre-retirement: PUB(10) mortality tables, with 110% the Public
Safety table used for males and 100%of the General Employee table
used for females. The rates are projected on a fully generational
basis with scale MP-2021(with immediate convergence).
Other Information: There were no benefit changes during the year.
72
EXHIBIT B-3
2021 2020 2019 2018 2017 2016
$ 7,624,424 $ 7,185,753 $ 5,877,907 $ 5,675,065 $ 5,521,772 $ 5,427,145
(7,624,424) (7,185,753) (5,877,907) (5,675,065) (5,521,772) (5,427,145)
$ $ $ $ $ $
$ 46,206,994 $ 46,894,603 $ 45,968,759 $ 44,522,000 $ 44,687,123 $ 44,674,967
16.50% 15.32% 12.79% 12.75% 12.36% 12.15%
CITY OF WICHITA FALLS, TEXAS
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIOS
WICHITA FALLS FIREMEN'S RELIEF AND RETIREMENT FUND
2024 2023 2022 2021
Total Pension Liability
Service cost $ 2,809,468 $ 2,928,522 $ 2,640,087 $ 3,462,346
Interest on total pension liability 7,163,068 6,880,704 6,792,673 6,175,999
Changes of benefit terms - - - -
Difference between expected and
actual experience 919,073 1,286,962 - (2,700,656)
Changes of assumptions (10,048,590) (1,036,875) 2,195,408 (20,894,841)
Benefit payments/refunds of
contributions (6,637,305) (6,317,093) (6,006,806) (6,535,299)
Net change in total pension liability (5,794,286) 3,742,220 5,621,362 (20,492,451)
Total pension liability, beginning 126,841,951 123,099,731 117,478,369 137,970,820
Total pension liability, ending(a) $ 121,047,665 $ 126,841,951 $ 123,099,731 $ 117,478,369
Fiduciary Net Position
Contributions-employer $ 3,313,807 $ 2,109,816 $ 1,646,524 $ 1,615,588
Contributions-employee 1,823,000 1,695,157 1,615,459 1,583,797
Net investment income 6,008,411 6,795,399 (8,438,527) 8,128,492
Benefit payments/refunds of
contributions (6,637,305) (6,317,093) (6,006,806) (6,535,299)
Administrative expenses (111,753) (97,104) (144,781) (266,037)
Other - 28,430 10,060 3,386
Net change in fiduciary net position 4,396,160 4,214,605 (11,318,071) 4,529,927
Fiduciary net position, beginning 55,255,221 51,040,616 62,358,687 57,828,760
Fiduciary net position, ending (b) $ 59,651,381 $ 55,255,221 $ 51,040,616 $ 0,358,687
Net pension liability, ending= (a)-(b) $ 61,396,284 $ 71,586,730 $ 72,059,115 $ 55,119,682
Fiduciary net position as a % of total
pension liability 49.28% 43.56% 41.46% 53.08%
Covered payroll $ 14,023,008 5 13,039,659 $ 12,426,596 $ 12,183,054
Net pension liability(asset) as a % of
covered payroll 437.83% 548.99% 579.88% 452.43%
73
EXHIBIT B-4
2020 2019 2018 2017 2016 2015
$ 3,066,397 $ 2,916,767 $ 3,073,858 $ 2,859,969 $ 1,560,472 $ 1,493,672
6,287,518 6,110,936 5,899,445 5,728,347 5,827,804 5,298,361
(5,007,726) - 7,781
(399,085) 5,304,698 (2,151,748) (1,542,023)
8,631,596 3,933,059 (1,453,521) 14,862,872 24,107,651
(5,901,298) (5,759,722) (5,292,918) (5,250,040) (4,543,166) (3,950,906)
12,084,213 6,801,955 (2,780,862) 23,505,846 24,801,013 1,306,885
125,886,607 119,084,652 121,865,514 98,359,668 73,558,655 72,251,770
$137,970,820 $ 125,886,607 $119,084,652 $121,865,514 $ 98,359,668 $ 73,558,655
$ 1,551,830 $ 1,442,485 $ 1,455,950 $ 1,411,351 $ 1,283,410 $ 1,273,913
1,551,830 1,468,465 1,475,242 1,463,122 1,350,904 1,221,926
7,864,359 9,142,584 (2,225,595) 6,581,299 2,577,572 421,270
(5,901,298) (5,759,722) (5,292,918) (5,250,040) (4,543,166) (3,950,906)
(115,915) (111,432) (96,102) (124,267) (115,843) (87,245)
347,490 250 -
4,950,806 6,182,380 (4,683,423) 4,428,955 553,127 (1,121,042)
52,877,954 46,695,574 51,378,997 46,950,042 46,396,915 47,517,957
$ 57,828,760 $ 52,877,954 $ 46,695,574 $ 51,378,997 $ 46,950,042 $ 46,396,915
$ 80,142,060 $ 73,008,653 $ 72,389,078 $ 70,486,517 $ 51,409,626 $ 27,161,740
41.91% 42.00% 39.21% 42.16% 47.73% 63.07%
$ 11,937,154 $ 11,295,885 $ 11,348,015 $ 11,254,785 5 10,391,569 $ 10,182,717
671.37% 646.33% 637.90% 626.28% 494.72% 266.74%
CITY OF WICHITA FALLS, TEXAS
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
WICHITA FALLS FIREMEN'S RELIEF AND RETIREMENT FUND
2025 2024 2023 2022
Actuarial determined contribution $ 2,533,237 $ 2,245,965 $ 2,004,905 $ 1,633,202
Contributions in relation to the actuarially
determined contribution (3,533,237) (2,245,965) (2,004,905) (1,633,202)
Contribution deficiency(excess) $ (1,000,000) $ $ $
Covered payroll $ 14,668,749 $ 13,670,605 $ 12,917,098 $ 12,326,052
Contributions as a percentage of
covered payroll 24.09% 16.43% 15.52% 13.25%
Valuation Date: January 1,2024
Methods and Assumptions Used to Determine Contribution Rates:
Actuarial Cost Method Entry Age Normal
Amortization Method Level Percentage of Compensation
Remaining Amortization Period 43.3 years(as of 1/1/2020 valuation)
Mortality PubS-2010(amount-weighted)tables
Retirement Age Based upon tables dependent upon hire date, in conjunction
with an actuarial study dated October 2022.
Retirement Election Members eligible for the DROP are assumed to elect either straight
service retirement benefits or the DROP,whichever is more valuable.
Other members are assumed to receive straight service retirement
benefits.
Termination Rates Based upon service table, in conjunction with an actuarial experience
study dated October 2022.
Disability Rates Based upon member age, in conjunction with an actuarial experience
study dated October 2022.
Interest Rate: 7.50%per year,compounded annually, net of expenses.This is
supported by the asset allocation of the trust and the long-term
expected return by asset class.
Salary Increases Based upon service table, in conjunction with an actuarial experience
study dated October 2022.
74
EXHIBIT B-5
2021 2020 2019 2018 2017 2016
$ 1,587,003 $ 1,508,426 $ 1,455,581 $ 1,411,351 $ 1,283,410 $ 1,273,913
(1,587,003) (1,508,426) (1,455,581) (1,411,351) (1,283,410) (1,273,913)
$ $ $ $ $ $
$ 12,039,888 $ 11,834,931 $ 11,500,098 $ 11,214,407 $ 10,929,570 $ 11,088,538
13.18% 12.75% 12.66% 12.59% 11.74% 11.49%
Payroll Growth 3.00%per year for amortization of the Unfunded Actuarial Accrued
Liability.The assumed payroll growth was approved in conjunction
with an actuarial study dated October 2022.
Marital Status: 100%of actives are assumed to be married at time of benefit commence-
ment. Males are assumed to be two years older than their spouses.
Dependent Children: Each member is assumed to have two children.The first child is
assumed to have been born when the member was 25.The second
child is assumed to be two years younger. It is also assumed that
benefits will be paid until each child reaches the age of 20.
Contribution Rates: Members-13.00%
City-16.50%(as of January 1,2024)
Actuarial Asset Method: Fair Market Value
CITY OF WICHITA FALLS, TEXAS
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN NET OPEB LIABILITY AND RELATED RATIOS
CITY OF WICHITA FALLS RETIREE HEALTH CARE PLAN
2024 2023
Total OPEB Liability
Service cost $ 758,684 $ 649,071
Interest on total OPEB liability 1,652,092 1,606,708
Changes of benefit terms - -
Difference between expected and actual experience 2,015,235 -
Changes of assumptions - -
Benefit payments/refunds of contributions (1,480,020) (1,906,024)
Net change in total OPEB liability 2,945,991 349,7S5
Total OPEB liability, beginning 24,456,777 24,107,022
Total OPEB liability, ending(a) $ 27,402,768 $ 24,456,777
Fiduciary Net Position
Contributions-employer $ 488,861 $ 2,221,786
Contributions -employee
Net investment income 1,558,214 5,588,971
Benefit payments/refunds of contributions (1,480,020) (1,906,024)
Administrative expenses - -
Other Net change in fiduciary net position 567,055 5,904,733
Fiduciary net position, beginning _ 14,579,602 8,674,869
Fiduciary net position, ending (b) $ 15,146,657 $ 14,579,602
Net OPEB liability/(asset), ending= (a) - (b) $ 12,256,111 $ 9,877,175
Fiduciary net position as a % of total OPEB liability 55.27% 59.61%
Covered payroll $ 69,872,334 $ 64,344,926
Net OPEB liability (asset) as a % of covered payroll 17.54% 15.35%
This schedule is presented to illustrate the requirement to show information for 10 years. However,
recalculations of prior years are not required, and if prior years are not reported in accordance with
the standards of GASB 74/75, they should not be shown here. Therefore, we have shown only years
for which the new GASB statements have been prepared.
75
EXHIBIT B-6
2022 2021 2020 2019 2018 2017
$ 628,392 $ 667,554 $ 557,600 $ 523,568 $ 518,007 $ 505,385
980,948 1,593,949 1,471,238 1,432,914 1,480,271 1,456,410
266,525 - 678,603 • (705,047)
(318,362) - 733,999 281,546 765,976 -
(2,158,526) (1,667,492) (1,689,454) (1,685,098) (1,679,932) (1,584,144)
(601,023) 594,011 1,751,986 552,930 379,275 377,651
24,708,045 24,114,034 22,362,048 21,809,118 21,429,843 21,052,192
$ 24,107,022 $ 24,708,045 $ 24,114,034 $ 22,362,048 $ 21,809,118 $21,429,843
$ 2,580,498 $ 2,059,484 $ 2,051,116 $ 2,214,088 $ 2,260,421 $ 2,029,653
(1,558,642) 1,459,619 1,022,243 1,204,836 (374,667) 737,181
(2,158,526) (1,667,492) (1,689,454) (1,685,098) (1,679,932) (1,584,144)
- - (1,202) (4,171)
- - (344,259) - -
(1,136,670) 1,851,611 1,383,905 1,389,567 204,620 1,178,519
9,811,539 7,959,928 6,576,023 5,186,456 4,981,836 3,803,317
$ 8,674,869 $ 9,811,539 $ 7,959,928 $ 6,576,023 5 5,186,456 $ 4,981,836
$ 15,432,153 $ 14,896,506 5 16,154,106 $ 15,786,025 $ 16,622,662 $ 16,448,007
35.98% 39.71% 33.01% 29.41% 23.78% 23.25%
5 62,111,131 5 63,620,585 5 59,760,545 $ 58,259,148 5 57,044,011 5 55,647,372
24.85% 23.41% 27.03% 27.10% 29.14% 29,56%
CITY OF WICHITA FALLS, TEXAS
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
CITY OF WICHITA FALLS RETIREE HEALTH CARE PLAN
2025 2024 2023
Actuarial determined contribution $ 2,411,070 $ 3,011,353 $ 2,765,123
Contributions in relation to the actuarially
determined contribution (488,861) (2,221,786) (2,580,498)
Contribution deficiency (excess) $ 1,922,209 $ 789,567 $ 184,625
Covered payroll $ 69,872,334 $ 64,344,926 $ 62,111,131
Contributions as a percentage of
covered payroll 0.70% 3.45% 4.15%
Valuation Date: December 31, 2024
Methods and Assumptions Used to Determine Contribution Rates:
Actuarial Cost Method Entry age, level percentage of salary
Amortization Method Level dollar
Remaining Amortization Period Closed; 8 years as of FYE 2025
Asset Valuation Market Value of Assets
Investment Rate of Return 6.75%, net of investment expenses, including inflation
Inflation 2.25%
Salary Increases 2.75%
Payroll Growth 3.00%
Demographic Assumptions TMRS: Based on the experience study covering the four-year period ending
December 31, 2014 as conducted for the TMRS.
Fire: Based on the January 1, 2018 valuation for the Wichita Falls Firemen's
Relief and Retirement Fund.
76
EXHIBIT B-7
2022 2021 2020 2019 2018
$ 2,196,691 $ 2,125,861 $ 2,198,413 $ 2,134,381 $ 2,072,215
(2,292,372) (1,966,977) (2,153,169) (2,453,913) (2,072,215)
$ (95,681) $ 158,884 $ 45,244 $ (319,532) $ -
$ 59,568,372 $ 54,420,074 $ 55,361,994 $ 58,359,009 $ 55,042,215
3.85% 3.61% 3.89% 4.20% 3.76%
Mortality The actuarial valuation used the PUB-2010 sex distinct
headcount weighted mortality tables with generational
mortality improvement scale MP-2021.
Participation Rates 45% of participants are assumed to elect coverage if they
retire at the age of 49 or older.
Healthcare Cost Initial rate of 5.92%declining to ultimate rates of 4.14% in
Trend Rates the year 2041
Other Information:
There were no benefit changes during the year.
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION
SEPTEMBER 30, 2025
Budgetary Information
General Fund
Demonstrating compliance with the adopted budget is an important component of a government's
accountability to the public. Many citizens participate in the process of establishing the annual operating
budgets of state and local governments, and have a keen interest in following the actual financial progress of
their governments over the course of the year. The City and many other governments revise their original
budgets over the course of the year for a variety of reasons. Under the new reporting model, governments
will continue to provide budgetary comparison information in their annual reports. An important change,
however, is a requirement to add the government's original budget to the current comparison of final budget
and actual results.
The City adheres to the following procedures in establishing the operating budget reflected in the basic
financial statements:
On or before August 15 of each year,the City Manager submits to the City Council a proposed budget for the
fiscal year beginning the following October 1. The operating budget includes proposed expenditures and the
means of financing them. Public hearings are conducted. The budget is legally enacted by the City Council
through passage of appropriation and tax levying ordinances prior to September 30 and is published under a
separate cover.
An annual budget, including debt service requirements, is legally adopted for the General Fund on a basis
which is consistent with generally accepted accounting principles.
The City Council must approve any transfer of appropriation balances or portions thereof from one
department to another. The City Manager has the authority, without City Council approval, to transfer
appropriation balances from one expenditure account to another within a single department of the City.
Supplemental appropriations of$5,792,491 were approved by the City Council. The reported budgetary data
includes amendments made during the year.
At the close of each fiscal year, any unencumbered appropriated balance lapses to the unreserved fund
balance.
ARPA Fund
A budget is not legally required for the ARPA Fund; therefore, a budgetary comparison schedule is not
presented for that fund.
Texas Municipal Retirement System
Changes of benefit terms:
For measurement date 12/31/2019, amounts reported as changes of benefit terms resulted from the City
adopting a 7%employee contribution rate for all employees.
77
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION (CONT'D.)
SEPTEMBER 30, 2025
Wichita Falls Firemen's Relief and Retirement Fund
Changes of benefit terms.
For measurement date 12/31/2018, amounts reported as changes of benefit terms resulted from the
following benefit amendments that were implemented into the Fund for all active participants:
- A maximum accrued benefit cap of$100,000 per year
- The average final compensation period was increased from 3 years to 5 years
- The normal form of annuity payments was amended from a 66-2/3%Joint &Survivor Annuity to
a Life Annuity
Effective April 20, 2016,there have been multiple changes in benefits, as follows:
- The member contribution rate was increased from 12%to 13%of salary for all members.
- All future new entrants will accrue benefits under a "Tier 2" benefit structure.
Changes of assumptions.
For purposes of determining the GASB discount rate at the 12/31/2019 measurement date, a depletion date
projection as of that date was performed. The results of this projection showed a single discount rate of
4.99%.The discount rate was decreased from 5.13%to 4.99%.
For purposes of determining the GASB discount rate at the 12/31/2018 measurement date, a depletion date
projection as of that date was performed. The results of this projection showed a single discount rate of
5.13%.The discount rate was increased from 5.03%to 5.13%.
For purposes of determining the GASB discount rate at the 12/31/2017 measurement date, a depletion date
projection as of that date was performed. The results of this projection showed a single discount rate of
5.03%.The discount rate was decreased from 5.81%to 5.03%.
As a result of an actuarial experience study dated October 6, 2017, the following assumption changes were
approved by the Board of Trustees:
- The investment return assumption was lowered from 8.00% to 7.75% per year, net of all
expenses.
- The assumed rates of salary increases were amended.
- The assumed rates of retirement were amended.
- The assumed rates of withdrawal were amended.
The assumed rates of disablement were amended.
For purposes of determining the GASB discount rate at the 12/31/2016 measurement date, a depletion date
projection as of that date was performed. The results of this projection showed a single discount rate of
5.81%.The discount rate was decreased from 8.00%to 5.81%.
78
COMBINING FINANCIAL STATEMENTS
Nonmajor Governmental Funds
Special Revenue Funds
The special revenue funds are used to account for the proceeds from specific revenue sources (other than
for major capital projects or proprietary funds) that are either legally restricted to be expended for
specified purposes or have revenue sources committed for specific purposes.
Community Development Block Grant Fund
The Community Development Block Grant Fund accounts for federal block grant revenues and
related expenditures.
Section 8 Housing Fund
The Section 8 Housing Fund accounts for federal funds received to subsidize rents and housing
payments for lower income families within the City.
Home Investment Partnership Agreement Fund
The Home Investment Partnership Agreement Fund accounts for federal funds received to provide
home ownership opportunities to low income, first-time homebuyers through the acquisition,
rehabilitation and resale of single-family dwellings that are currently owned by governmental
agencies.
MPEC/Hole!/Motel Tax Fund
The MPEC/Hotel/Motel Tax Fund accounts for revenues derived from an occupancy tax which is
expended on programs promoting the growth of the City of Wichita Falls. These funds are used to
support the City's Multi-Purpose Events Center.
Hotel/Motel Venue Tax Fund
The Hotel/Motel Venue Tax Fund accounts for revenues derived from an additional occupancy tax
which is expended on projects classified as a venue such as an arena, coliseum, stadium, or other
facilities.
Airport Improvement Grant Fund
The Airport Improvement Grant Fund is used to account for improvements made to the City's
Regional Airport that are funded by state and federal grants.
Golf Fund
The Golf Fund accounts for the activities at the Weeks Park Golf Course.
Miscellaneous Special Revenue Fund
The Miscellaneous Special Revenue Fund accounts for various revenues generated in the form of
contributions, fees, concessions, rents and other charges and their related expenditures. This fund
also includes revenues derived from various grants for health and police programs. The revenues in
this fund are expended to support the activity generating the revenue or as designated by the
contributor. This fund is not required to have a legally adopted budget; therefore, no budgetary
comparison schedule is presented.
Debt Service Funds
Debt Service Fund
The Debt Service Fund is established by ordinances authorizing the issuance of general obligation
bonds to provide for the payment of bond principal and interest. An ad valorem tax rate and tax
levy are required to be computed and levied which will be sufficient to produce the funds required
to pay principal and interest as they come due. This fund is also used to provide for the payment of
paying agent fees.
Excess Sales Tax Fund
The Excess Sales Tax Fund is used to account for and administer the excess sales tax collected
related to the property reduction tax. This fund is not required to have a legally adopted budget;
therefore, no budgetary comparison schedule is presented.
Capital Projects Funds
The capital projects funds are used to account for financial resources to be used for the acquisition or
construction of major capital facilities,other than those financed by federal grants or proprietary funds.
2018-A Bond Projctl,
This fund was established to account for the proceeds of the Series 2018-A General Obligation
Bonds that were issued for the purpose of street improvements within the City.
Venue Tax Bond Projects
This fund was established to account for projects financed by the Venue Tax Revenue Bonds, Series
2021. These funds are to be used to make renovations to the Multi-Purpose Events Center and
Memorial Auditorium.
miscellaneous Capital Projects Funds
This fund is an accumulation of several projects that have been undertaken over the years including
library renovations,street improvements and drainage improvements.
Permanent Fund
The permanent fund is used to account for principal trust amounts received and related interest income.
The interest earnings of this fund may be used for maintenance of the City's cemeteries.
CITY OF WICHITA FALLS,TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30,2025
Special Revenue
Home MPEC/
Community Investment Hotel/ Hotel/ Airport
Development Section 8 Partnership Motel Motel Improvement
Block Grant Housing Agreement Tax Venue Tax Grant
ASSETS
Cash and cash equivalents $ 220,212 $ 3,160,724 $ 122,749 $ 1,382,009 $ 1,653,792 $ -
Receivables:
Taxes and assessments - - - 151,918 53,456 -
Government agencies 1,432,148 (24,943) 2,436,568 - - 1,941,644
Other 8,455 - - 282,146 - -
Inventory - - - 35,181 - -
Prepaid items - - - 420 - -
Other assets - - - 17,320 - -
Total assets $ 1,660,815 5 3,135,781 S 2,559,317 $ 1,868,994 5 1,707,248 5 1,941,644
LIABILITIES AND FUND BALANCE
Liabilities
Accounts payable-trade $ 56,629 $ 1,320 $ 6,702 $ 72,678 $ - $ 17,996
Accrued payroll 8,015 12,741 1,289 67,502 - -
Payable to other City funds 381,343 - - 1,192,612 - 2,344,196
Payable to government agencies - 72,460 20,000 (3,484) - -
Other liabilities 2,725 (29,855) 24,744 205,075 - 5,612
Unearned revenue - - - 40,809 • -
Total liabilities 448,712 56,666 52,735 1,575,192 - 2,367,804
Deferred inflows of resources
Unavailable revenues - - - - - -
Fund balance:
Nonspendable:
Inventory and prepaid items - - • 35,181 -
Permanent fund principal - - - - - -
Restricted for:
Debt service - - - - - -
Capital projects - - - - -
Federal and state grant programs 1,212,103 3,079,115 2,506,582 • - -
Tourism - - - 258,621 1,707,248 -
Committed for:
Local projects - - - - -
Unassigned - - (426,160)
Total fund balance 1,212,103 3,079,115 2,506,582 293,802 1,707,248 (426,160)
Total liabilities,deferred inflows of
resources and fund balances 5 1,660,815 5 3,135,781 5 2,559,317 5 1,868,994 $ 1,707,248 $ 1,941,644
79
EXHIBIT C-1
Permanent
Debt Service Capital Projects Fund
Total
Miscellaneous 2018-A Venue Tax Miscellaneous Nonmajor
Golf Special Debt Excess Bond Bond Capital Perpetual Governmental
Fund Revenue Service Sales Tax Projects Projects Projects Care Funds
$ 160,210 $ 3,772,781 $ 1,370,151 $ 435,587 $ 1,615,670 $ 207,682 $ 701,134 $ 2,401,616 $ 17,204,317
- - 55,972 - - - - - 261,346
590,501 23,530 - - - - - 6,399,448
(58,190) 25,805 - - - - - - 258,216
_ - - - - 35,181
3,787 4,897 689,700 - - - - 698,804
9,871 3,000 - - - - - - 30,191
5 115,678 $ 4,396,984 5 2,139,353 $ 435,587 5 1,615,670 $ 207,682 5 701,134 5 2,401,616 5 24,887,503
$ 114,996 $ 74,436 $ - $ - $ 253,806 $ - $ - $ - $ 598,563
84,445 - - - - - 173,992
- - - - - - - - 3,918,151
95 - - - - - 89,071
682 129,690 - - 63,149 - 58,662 - 460,484
37,236 - - - - - - 78,045
115,678 325,902 - - ^' 316,955 - 58,662 - 5,318,306
- 71,058 - - - - • 71,058
- 4,897 689,700 - - - - - 729,778
- - - - - - - 2,401,616 2,401,616
- 1,378,595 435,587 - - - 1,814,182
1,298,715 207,682 642,472 - 2,148,869
- - - - - • 6,797,800
- - - - - 1,965,869
4,066,185 - - - - 4,066,185
- - - - - - - - (426,160)
- 4,071,082 2,068,295 435,587 1,298,715 207,682 642,472 2,401,616 19,498,139
$ 115,678 $ 4,396,984 $ 2,139,353 $ 435,587 $ 1,615,670 5 207,682 $ 701,134 5 2,401,616 5 24,887,503
CITY OF WICHITA FALLS,TEXAS
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES-NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2025
Special Revenue
Home MPEC/
Community Investment Hotel/ Hotel/ Airport
Development Section 8 Partnership Motel Motel Improvement
Block Grant Housing Agreement Tax Venue Tax Grant
Revenues:
Taxes $ •
$ - $ - $ 2,099,841 $ 665,594 $ -
Charges for services 3,071 - - 1,850 - -
Fines and forfeitures - - - - - -
Intergovernmental revenue 1,202,286 5,336,161 349,481 - - 1,942,600
Contributions - 35,000 - 209,979
Miscellaneous revenue 200 213,932 - 2,175,546 - -
Total revenues 1,205,557 5,550,093 349,481 4,312,237 665,594 2,152,579
Expenditures:
Current:
Administrative services 126,239 - - 83,333 282,479 -
Police - - - - - -
Fire - -
Parks and recreation 71,953 - - - -
Accounting/finance - - - -
Development services 1,070,872 5,179,008 134,714 - • -
Public works - - - -
Health - - - -
Traffic and transportation - - - - 320,521
Multi-Purpose Events Center - - - 4,619,391 -
Capital outlay - - V -
Debt service:
Principal retirement - - - 55,000 -
Interest and paying agent fees - 99,200 -
Total expenditures 1,269,064 5,179,008 134,714 4,702,724 436,679 320,521
Excess of revenues over
(under)expenditures (63,507) 371,085 214,767 (390,487) 228,915 1,832,058
Other financing sources(uses):
Transfers in - - - 406,635 - -
Transfers out - - - (16,149) (56,079) (2,034,989)
Total other financing sources(uses) - - 390,486 (56,079) (2,034,989)
Net change in fund balance (63,507) 371,085 214,767 (1) 172,836 (202,931)
Fund balance-beginning 1,275,610 2,708,030 2,291,815 293,803 1,534,412 (223,229)
Fund balance-ending $ 1,212,103 $ 3,079,115 $ 2,506,582 $ 293,802 $ 1,707,248 $ (426,160)
80
EXHIBIT C-2
Permanent
Debt Service Capital Projects Fund
Total
Miscellaneous 2018-A Venue Tax Miscellaneous Nonmajor
Golf Special Debt Excess Bond Bond Capital Perpetual Governmental
Fund Revenue Service Sales Tax Projects Projects Projects Care Funds
$ - $ - $ 1,935,697 $ - $ - $ - $ - $ - $ 4,701,132
637,904 23,590 • - - - - 666,415
290,272 - - - - - - 290,272
- 4,066,659 - - - - - - 12,897,187
- 1,721,180 1,581,842 - - - - - 3,548,001
601,260 495,579 209,037 6 141,624 73,972 42,013 238,320 4,191,489
1,239,164 6,597,280 3,726,576 6 141,624 73,972 42,013 238,320 26,294,496
1,436,773 455,621 - - - - - • 2,384,445
250,827 - - - - - - 250,827
- 862,375 - - - - 862,375
- 329,293 - - - - 232 • 401,478
• • - - • - - - 6,384,594
- 12,166 - - - - - 12,166
- 3,479,831 - - - - - 3,479,831
- 585,469 - - - - - - 905,990
- - - - - - - - 4,619,391
- - - - 1,296,624 9,120 127,713 - 1,433,457
- 3,937,544 - - - - - 3,992,544
- 1,178,102 - • - - - 1,277,302
1,436,773 5,975,582 5,115,646 - 1,296,624 9,120 127,945 - 26,004,400
(197,609) 621,698 (1,389,070) 6 (1,155,000) 64,852 (85,932) 238,320 290,096
207,836 125,618 1,503,194 - - - - - 2,243,283
(143,917) - - - - - - (2,251,134)
207,836 (18,299) 1,503,194 - - - - - (7,851)
10,227 603,399 114,124 6 (1,155,000) 64,852 (85,932) 238,320 282,245
(10,227) 3,467,683 1,954,171 435,581 2,453,715 142,830 728,404 2,163,296 19,215,894
$ - $ 4,071,082 $ 2,068,295 435,587 $ 1,298,715 $ 207,682 $ 642,472 2,401,616 $ 19,498,139
EXHIBIT C-3
CITY OF WICHITA FALLS, TEXAS
BUDGETARY COMPARISON SCHEDULE - COMMUNITY DEVELOPMENT BLOCK GRANT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Variance With
Final Budget-
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Charges for services $ $ - $ 3,071 $ 3,071
Intergovernmental revenue 1,402,286 1,402,286 1,202,286 (200,000)
Miscellaneous revenue 200 200
Total revenues 1,402,286 1,402,286 1,205,557 (196,729)
Expenditures:
Administrative services 316,239 249,239 126,239 123,000
Parks and recreation 100,000 207,355 71,953 135,402
Development services 986,047 1,153,047 1,070,872 82,175
Total expenditures 1,402,286 1,609,641 1,269,064 340,577
Excess of revenues over(under) expenditures (207,355) (63,507) 143,848
Fund balance-beginning 1,275,610 1,275,610 1,275,610 -
Fund balance-ending $ 1,275,610 $ 1,068,255 $ 1,212,103 $ 143,848
81
EXHIBIT C-4
CITY OF WICHITA FALLS, TEXAS
BUDGETARY COMPARISON SCHEDULE-SECTION 8 HOUSING FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Variance With
Final Budget-
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Intergovernmental revenue $ 4,954,686 $ 4,954,686 $ 5,336,161 $ 381,475
Miscellaneous revenue 206,000 206,000 213,932 7,932
Total revenues 5,160,686 5,160,686 5,550,093 389,407
Expenditures:
Development services 5,160,686 5,160,686 5,179,008 (18,322)
Total expenditures 5,160,686 5,160,686 5,179,008 (18,322)
Excess of revenues over(under)expenditures - 371,085 371,085
Fund balance-beginning 2,708,030 2,708,030 2,708,030 -
Fund balance-ending $ 2,708,030 $ 2,708,030 $ 3,079,115 $ 371,085
82
EXHIBIT C-5
CITY OF WICHITA FALLS, TEXAS
BUDGETARY COMPARISON SCHEDULE- HOME INVESTMENT PARTNERSHIP AGREEMENT FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Variance With
Final Budget-
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Intergovernmental revenue $ 349,481 $ 349,481 $ 349,481 $
Total revenues 349,481 349,481 349,481
Expenditures:
Development services 349,481 349,481 134,714 214,767
Total expenditures 349,481 349,481 134,714 214,767
Excess of revenues over(under)expenditures 214,767 214,767
Fund balance-beginning 2,291,815 2,291,815 2,291,815
Fund balance-ending $ 2,291,815 $ 2,291,815 $ 2,506,582 $ 214,767
83
EXHIBIT C-6
CITY OF WICHITA FALLS, TEXAS
BUDGETARY COMPARISON SCHEDULE-MPEC/HOTEL/MOTEL TAX FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Variance With
Final Budget-
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 2,441,882 $ 2,441,882 $ 2,099,841 $ (342,041)
Charges for services 400 400 1,850 1,450
Contributions 35,000 35,000 35,000
Miscellaneous revenue 2,079,291 2,079,291 2,175,546 96,255
Total revenues 4,556,573 4,556,573 4,312,237 (244,336)
Expenditures:
Administrative services 86,000 86,000 83,333 2,667
Multi-Purpose Events Center 4,900,573 4,900,573 4,619,391 281,182
Total expenditures 4,986,573 4,986,573 4,702,724 283,849
Excess of revenues over(under)expenditures (430,000) (430,000) (390,487) 39,513
Other financing sources (uses):
Transfers in 430,000 430,000 406,635 (23,365)
Transfers out - - (16,149) (16,149)
Total other financing sources(uses) 430,000 430,000 390,486 (39,514)
Excess of revenues and other sources
over(under) expenditures and other uses - (1) (1)
Fund balance-beginning 293,802 293,802 293,803 1
Fund balance-ending $ 293,802 $ 293,802 $ 293,802 $ -
84
EXHIBIT C-7
CITY OF WICHITA FALLS, TEXAS
BUDGETARY COMPARISON SCHEDULE-HOTEL/MOTEL VENUE TAX FUND
FOR THE YEAR ENDED SEPTEMBER 30,2025
Variance With
Final Budget-
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 650,000 $ 650,000 $ 665,594 $ 15,594
Total revenues 650,000 650,000 665,594 15,594
Expenditures:
Administrative services 1,583,000 1,583,000 282,479 1,300,521
Debt service:
Principal retirement - 55,000 (55,000)
Interest and paying agent fees - 99,200 (99,200)
Total expenditures 1,583,000 1,583,000 436,679 1,146,321
Excess of revenues over(under) expenditures (933,000) (933,000) 228,915 1,161,915
Other financing sources(uses):
Transfers in 933,000 933,000 (933,000)
Transfers out - (56,079) (56,079)
Total other financing sources(uses) (56,079) (56,079)
Excess of revenues and other sources
over(under)expenditures and other uses (933,000) (933,000) 172,836 1,105,836
Fund balance-beginning 992,624 992,624 1,534,412 541,788
Fund balance-ending $ 59,624 $ 59,624 $ 1,707,248 $ 1,647,624
85
EXHIBIT C-8
CITY OF WICHITA FALLS, TEXAS
BUDGETARY COMPARISON SCHEDULE-GOLF FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Variance With
Final Budget-
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Charges for services $ 1,108,172 $ 1,108,172 $ 637,904 $ (470,268)
Miscellaneous revenue - 601,260 601,260
Total revenues 1,108,172 1,108,172 1,239,164 130,992
Expenditures:
Administrative services 1,048,172 1,048,172 1,436,773 (388,601)
Total expenditures 1,048,172 1,108,172 1,436,773 (328,601)
Excess of revenues over(under)expenditures 60,000 - (197,609) (197,609)
Other financing sources(uses)
Transfers in - - 207,836 207,836
Excess of revenues and other sources
over(under)expenditures and other uses 60,000 - 10,227 10,227
Fund balance- beginning (10,227) (10,227) (10,2271
Fund balance-ending $ 49,773 $ (10,227) $ $ 10,227
86
EXHIBIT C-9
CITY OF WICHITA FALLS, TEXAS
BUDGETARY COMPARISON SCHEDULE-DEBT SERVICE FUND
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Variance With
Final Budget-
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Taxes $ 2,119,970 $ 2,119,970 $ 1,935,697 $ (184,273)
Contributions 1,887,352 1,887,352 1,581,842 (305,510)
Miscellaneous revenue 204,000 204,000 209,037 5,037
Total revenues 4,211,322 4,211,322 3,726,576 (484,746)
Expenditures:
Debt service-principal 4,350,000 4,350,000 3,937,544 412,456
Debt service-interest and paying agent fees 1,364,816 1,364,816 1,178,102 186,714
Total expenditures 5,714,816 5,714,816 5,115,646 599,170
Excess of revenues over(under)expenditures (1,503,494) (1,503,494) (1,389,070) 114,424
Other financing sources(uses)
Transfers in 1,503,494 1,503,494 1,503,194 (300)
Excess of revenues and other sources
over(under)expenditures and other uses - 114,124 114,124
Fund balance-beginning 1,954,171 1,954,171 1,954,171 -
Fund balance-ending $ 1,954,171 $ 1,954,171 $ 2,068,295 $ 114,124
87
Nonmajor Enterprise Funds
Nonmajor enterprise funds are used to account for operations that are financed and operated in a
manner similar to private business enterprises. The intent of the governing body is that the cost of
providing the service to the general public on a continuing basis be recovered primarily through user
charges.
Regional Airport Fund
The Regional Airport Fund accounts for the operations of the Wichita Falls Regional Airport.
Operational activities, including administration, operations and maintenance, of the airport are
accounted for in this fund.
Kickapoo Fair ort Fund
During the year ended September 30, 2000, the City acquired Kickapoo Downtown Airport, a private
airport. The Kickapoo Airport Fund was established to account for the operating revenues and
expenses of the airport.
Transit Fund
The Transit Fund accounts for the operation of the Wichita Falls transit system. This system is
supported from passenger fees, subsidies from the General Fund and subsidies from the Federal
Transit Administration.
Waterpark Fund
The Waterpark Fund was established to account for the operating revenues and expenses of the
Castaway Cove Waterpark. The waterpark was purchased on February 4, 2010.
CITY OF WICHITA FALLS,TEXAS
COMBINING STATEMENT OF NET POSITION
NONMAJOR ENTERPRISE FUNDS
SEPTEMBER 30,2025
Regional Kickapoo
Airport Airport
Assets
Current assets:
Cash and cash equivalents $ 464,329 $ 63,610
Restricted cash and cash equivalents 2,604,521 -
Receivables(net of allowance for
uncollectible accounts):
Government agencies • -
Other 45,481 13,800
Inventory 79,552 27,666
Prepaid items 14,343 15,484
Other current assets - -
Total current assets 3,208,226 120,560
Capital assets,net of accumulated depreciation 41,406,078 10,276,277
Total assets 44,614,304 10,396,837
Deferred outflows of resources
Pension-related 51,024 41,201
OPEB-related 8,762 7,010
Total deferred outflows of resources 59,786 48,211
Liabilities
Current liabilities payable from current assets:
Accounts payable-trade 142,173 3,939
Accrued payroll 13,507 11,843
Accrued vacation and sick leave 27,305 35,086
Payable to other City funds 141,832 22,022
Payable to government agencies - 13
Other liabilities 109,537 20,057
Right-to-use leases,current maturities 33,400 •
Total current liabilities payable
from current assets 467,754 92,960
Long-term liabilities:
Right-to-use leases,less current maturities 2,754,765 Net pension liability 200,423 161,839
Net OPEB liability 36,768 29,415
Total long-term liabilities 2,991,956 191,254
Total liabilities 3,459,710 284,214
Deferred inflows of resources
Pension-related 19,405 15,670
OPEB-related 8,727 6,981
Total deferred inflows of resources 28,132 22,651
Net position
Net investment in capital assets 38,617,913 10,276,277
Unrestricted 2,568,335 (138,094)
Total net position $ 41,186,248 $ 10,138,183
88
EXHIBIT D-1
Total
Nonmajor
Enterprise
Transit Waterpark Funds
$ $ 7,145 $ 535,084
2,604,521
546,941 - 546,941
59,281
71,535 - 178,753
29,827
340,398 340,398
618,476 347,543 4,294,805
16,987,150 3,364,124 72,033,629
17,605,626 3,711,667 76,328,434
227,997 - 320,222
43,810 - 59,582
271,807 - 379,804
1,071 147,183
61,731 - 87,081
208,002 - 270,393
2,669,033 - 2,832,887
13
28,569 - 158,163
33,400
2,968,406 3,529,120
2,754,765
895,567 - 1,257,829
183,842 - 250,025
1,079,409 - 4,262,619
4,047,815 - 7,791,739
86,711 - 121,786
43,634 - 59,342
130,345 - 181,128
16,987,150 3,364,124 69,245,464
(3,287,877) 347,543 (510,093)
13,699,273 $ 3,711,667 $ 68,735,371
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
NONMAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Regional Kickapoo
Airport Airport
Operating revenues:
Charges for services $ 52,517 $ -
Rents, concessions and other 1,910,789 1,139,913
Total operating revenues 1,963,306 1,139,913
Operating expenses:
Personnel services 596,297 356,943
Supplies and materials 322,468 573,758
Maintenance and repairs 66,087 5,419
Utilities and other services 309,059 107,947
Insurance and contract support 82,191 54,328
Other expenses 204,639 39,267
Depreciation and amortization 1,655,310 504,865
Total operating expenses 3,236,051 1,642,527
Operating income(loss) (1,272,745) (502,614)
Nonoperating revenues(expenses):
Investment earnings 104,037 3,235
Gain on sale of capital assets
Interest expense and paying agent fees (27,230)
Intergovernmental operating grants - -
Total nonoperating revenues (expenses) 76,807 3,235
Income (loss) before capital contributions and transfers (1,195,938) (499,379)
Transfers in - -
Transfers out -
Change in net position (1,195,938) (499,379)
Net position - beginning, as previously reported 42,392,234 10,657,850
Adjustment- change from nonmajor to major fund - -
Change in accounting principle (10,048) (20,288)
Net position - beginning, as restated 42,382,186 10,637,562
Net position -ending $ 41,186,248 $ 10,138,183
89
EXHIBIT D-2
Total
(now Major) Nonmajor
Stormwater Enterprise
Transit Waterpark Drainage Funds
$ 508,965 $ 1,109,753 $ $ 1,671,235
46,442 660,436 - 3,757,580
555,407 1,770,189 - 5,428,815
1,973,463 622,953 - 3,549,656
523,481 316,635 - 1,736,342
179,745 106,911 358,162
225,845 493,128 - 1,135,979
49,473 51,508 - 237,500
126,642 107,150 - 477,698
408,979 427,965 - 2,997,119
3,487,628 2,126,250 - 10,492,456
(2,932,221) (356,061) - (5,063,641)
53,735 - 161,007
5,489 -
- 5,489
- -
(27,230)
3,434,358 - 3,434,358
3,439,847 53,735 - 3,573,624
507,626 (302,326) - (1,490,017)
367,318 - - 367,318
(1,190,270) - - (1,190,270)
(315,326) (302,326) - (2,312,969)
14,147,571 4,013,993 43,959,193 115,170,841
(43,959,193) (43,959,193)
(132,972) - - (163,308)
14,014,599 4,013,993 - 71,048,340
$ 13,699,273 $ 3,711,667 $ - $ 68,735,371
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENT OF CASH FLOWS
NONMAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Regional Kickapoo
Airport Airport
Cash flows from operating activities:
Receipts from customers and users $ 1,978,787 $ 1,165,433
Payments to suppliers (796,563) (754,926)
Payments for interfund services (216,928) (90,552)
Payments to employees (455,948) (259,580)
Net cash provided (used) by operating activities 509,348 60,375
Cash flows from noncapital financing activities:
Intergovernmental operating grants - -
Interfund loan received (repaid) -
Transfers out to other funds -
Transfers from other funds -Net cash provided (used) by noncapital financing activities
Cash flows from capital and related
financing activities:
Acquisition and construction of capital assets (129,715)
Proceeds from sale of capital assets -
Principal paid on long-term debt (31,302) -
Interest and fees paid on long-term debt (27,230)Net cash provided (used)for capital and related
financing activities (188,247) -
Cash flows from investing activities:
Interest on investments 104,037 3,235
Net cash provided by investing activities 104,037 3,235
Net Increase (Decrease) in Cash and Cash Equivalents 425,138 63,610
Cash and Cash Equivalents- Beginning 2,643,712 -
Cash and Cash Equivalents- Ending $ 3,068,850 $ 63,610
90
EXHIBIT D-3
(Page 1 of 2)
Total
Nonmajor
Enterprise
Transit Waterpark Funds
$ 551,269 $ 1,758,563 $ 5,454,052
(1,067,000) (1,213,061) (3,831,550)
(587,007) - (894,487)
(1,510,268) (565,136) (2,790,932)
(2,613,006) (19,634) (2,062,917)
4,317,935 - 4,317,935
(858,276) (858,276)
(1,190,270) (1,190,270)
367,318 367,318
2,636,707 - 2,636,707
(29,190) (1,199,514) (1,358,419)
5,489 - 5,489
(31,302)
(27,230)
(23,701) (1,199,514) (1,411,462)
53,735 161,007
53,735 161,007
(1,165,413) (676,665)
1,172,558 3,816,270
$ $ 7,145 $ 3,139,605
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENT OF CASH FLOWS(CONT'D.)
NON MAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Regional Kickapoo
Airport Airport
Cash flows from operating activities:
Operating income (loss) $ (1,272,745) $ (502,614)
Adjustments to reconcile operating income (loss)
to net cash provided (used) by operating activities:
Depreciation and amortization 1,655,310 504,865
(Increase) decrease in assets and deferred outflows of resources:
Receivables:
Other 15,481 25,520
Inventory (39,817) 28,115
Prepaid items (3,482) (3,123)
Other current assets - -
Deferred outflows-pension-related 28,350 25,203
Deferred outflows-OPEB-related (3,076) (2,304)
Increase (decrease) in liabilities and deferred inflows of resources:
Accounts payable-trade 135,865 2,804
Accrued payroll 1,186 3,073
Accrued vacation and sick leave 14,393 4,848
Payable to government agencies 781 6
Other liabilities (1,100) (62)
Net pension liability (38,797) (38,293)
Net OPEB liability 8,124 5,710
Deferred inflows- pension-related 9,802 7,636
Deferred inflows -OPEB-related (927) (1,009)
Total adjustments 1,782,093 562,989
Net cash provided (used) by
operating activities $ 509,348 $ 60,375
91
EXHIBIT D-3
(Page 2 of 2)
Total
Nonmajor
Enterprise
Transit Waterpark Funds
$ (2,932,221) $ (356,061) $ (5,063,641)
408,979 427,965 2,997,119
(4,138) (11,626) 25,237
11,042 - (660)
(6,605)
(79,912) (79,912)
162,069 - 215,622
(14,790) - (20,170)
(61,824) - 76,845
16,001 - 20,260
2,770 - 22,011
787
7,598 - 6,436
(280,034) - (357,124)
37,660 - 51,494
39,519 - 56,957
(5,637) - (7,573)
319,215 336,427 3,000,724
$ (2,613,006) $ (19,634) $ (2,062,917)
Internal Service Funds
Internal Service Funds are used to account for the financing of goods or services provided by one
department or agency to other departments or agencies of the City on a cost-reimbursement basis.
Fleet Maintenance Fund
The Fleet Maintenance Fund accounts for the costs associated with the operation, maintenance and
replacement of the City's vehicle and equipment fleet. City departments which use the vehicles and
equipment are charged a monthly rental fee based upon actual operating costs associated with each
class of vehicle or equipment.
Duplicating Services Fund
The Duplicating Services Fund accounts for the costs associated with the operation and maintenance
of the City's duplicating equipment. City departments which use the duplicating services are charged
a fee based upon actual usage.
Employee Benefit Trust Fund
The Employee Benefit Trust Fund is used to account for and administer group health insurance, which
is self-insured by the City, and life insurance for employees and covered dependents.
Information Technology Fund
The Information Technology Fund accounts for the costs associated with the operation and
maintenance of the City's Information Technology assets. City departments which use information
technology are charged a fee based on usage.
EXHIBIT E-1
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30,2025
Fleet Duplicating Employee Information
Maintenance Services Benefit Technology
Fund Fund Trust Fund Fund Totals
Assets
Current assets:
Cash and cash equivalents $ 7,013,084 $ 139,446 $ 1,128,111 $ 2,292,959 $ 10,573,600
Restricted cash and cash equivalents - - 15,183,894 - 15,183,894
Receivables:
Other 591 10,902 - 11,493
Inventory 648,331 - - 648,331
Prepaid items 478,250 327 - 445 479,022
Total current assets 8,140,256 139,773 16,322,907 2,293,404 26,896,340
Capital assets,net of accumulated depreciation 39,316,299 - 6,195,779 45,512,078
Total assets 47,456,555 139,773 16,322,907 8,489,183 72,408,418
Deferred outflows of resources
Pension-related 279,380 - 8,011 191,322 478,713
OPEB-related 73,017 - - 32,419 105,436
Total deferred outflows of resources 352,397 - 8,011 223,741 584,149
Liabilities
Current liabilities:
Accounts payable-trade 537,360 -
- 80,699 618,059
Accrued payroll 60,096 - 2,055 52,033 114,184
Accrued vacation and sick leave 186,304 •-
183,607 369,911
Payable to other City funds - 462,283 - 462,283
Estimated health claims payable - 1,106,819 - 1,106,819
Other liabilities - - 18,227 - 18,227
Notes payable-current maturities 865,777 - - 865,777
Subscription liabilities-current maturities - - 119,200 119,200
Total current liabilities 1,649,537 - 1,589,384 435,539 3,674,460
Long-term liabilities:
Notes payable,less current maturities 7,505,693 - - - 7,505,693
Subscription liabilities,less current maturities - - 115,457 115,457
Net pension liability 1,097,400 - 31,466 751,512 1,880,378
Net OPEB liability 306,403 - - 136,043 442,446
Total long-term liabilities 8,909,496 - 31,466 1,003,012 9,943,974
Total liabilities 10,559,033 - 1,620,850 1,438,551 13,618,434
Deferred inflows of resources
Pension-related 106,253 - 3,047 72,763 182,063
OPEB-related 72,724 - - 32,289 105,013
Total deferred inflows of resources 178,977 - 3,047 105,052 287,076
Net position
Net investment in capital assets 30,944,829 - - 5,961,122 36,905,951
Unrestricted 6,126,113 139,773 14,707,021 1,208,199 22,181,106
Total net position $ 37,070,942 $ 139,773 $ 14,707,021 $ 7,169,321 $ 59,087,057
92
EXHIBIT E-2
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENT OF REVENUES,EXPENSES AND
CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2025
Fleet Duplicating Employee Information
Maintenance Services Benefit Technology
Fund Fund Trust Fund Fund Totals
Operating revenues:
Charges for services $ 13,806,008 $ - $ - $ 4,347,210 $ 18,153,218
Rents,concessions and other 18,000 8,665 1,234,874 20,689 1,282,228
Contributions - 14,618,537 - 14,618,537
Total operating revenues 13,824,008 8,665 15,853,411 4,367,899 34,053,983
Operating expenses:
Personnel services 2,219,771 - 52,529 1,572,261 3,844,561
Supplies and materials 3,256,116 - 19,035 259,087 3,534,238
Maintenance and repairs 3,104,678 - - 1,603,305 4,707,983
Utilities and other services 135,376 - 109,541 475,494 720,411
Insurance and contract support 21,371 - 16,470,748 1,890 16,494,009
Other expenses 81,609 - 1,130,185 17,310 1,229,104
Depreciation and amortization 5,953,693 - 1,349,495 7,303,188
Total operating expenses 14,772,614 - 17,782,038 5,278,842 37,833,494
Operating income(loss) (948,606) 8,665 (1,928,627) (910,943) (3,779,511)
Nonoperating revenues(expenses):
Investment earnings - 1,658,452 1,658,452
Gain(loss)on sale of capital assets 253,620 - - • 253,620
Interest expense (164,430) - (15,582) (180,012)
Total nonoperating revenues
(expenses) 89,190 - 1,658,452 (15,582) 1,732,060
Income(loss)before transfers (859,416) 8,665 (270,175) (926,525) (2,047,451)
Transfers in 8,081,862 - - 6,237 8,088,099
Transfers out (312,000) - - - (312,000)
Change in net position 6,910,446 8,665 (270,175) (920,288) 5,728,648
Net position-beginning,as originally stated 30,250,223 131,108 14,977,196 8,444,614 53,803,141
Error correction - - - (249,484) (249,484)
Change in accounting principle (89,727) - - (105,521) (195,248)
Net position-beginning,as restated 30,160,496 131,108 14,977,196 8,089,609 53,358,409
Net position-ending $ 37,070,942 $ 139,773 $ 14,707,021 $ 7,169,321 $ 59,087,057
93
EXHIBIT E-3
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED SEPTEMBER 30,2025
Fleet Duplicating Employee Information
Maintenance Services Benefit Technology
Fund Fund Trust Fund Fund Totals
Cash flows from operating activities:
Received from customers and users $ 300,593 $ - $ 3,425,641 $ •
$ 3,726,234
Received from interfund charges 13,523,416 8,665 11,602,589 4,367,899 29,502,569
Other operating receipts - - 822,130 - 822,130
Payments to suppliers (6,414,740) 5,041 (17,933,406) (2,584,461) (26,927,566)
Payments for interfund services (570,214) (7,910) - (127,477) (705,601)
Payments to employees (1,653,540) (10,636) (47,425) (1,168,475) (2,880,076)
Net cash provided by operating activities 5,185,515 (4,840) (2,130,471) 487,486 3,537,690
Cash flows from noncapital financing activities:
Transfers in from other funds 8,081,862 - - 6,237 8,088,099
Transfers out to other funds (312,000) - - - (312,000)
Net cash provided(used)by noncapital financing activities 7,769,862 - - 6,237 7,776,099
Cash flows from capital and related
financing activities:
Acquisition of capital assets (10,862,731) - - (317,477) (11,180,208)
Proceeds from sale of capital assets 462,240 - - 462,240
Principal paid on long-term debt (850,611) - - (111,621) (962,232)
Interest and fees paid on long-term debt (164,430) - - (15,582) (180,012)
Net cash used for capital and
related financing activities (11,415,532) - (444,680) (11,860,212)
Cash flows from investing activities:
Income(loss)on investments - - 1,658,452 - 1,658,452
Net cash provided by investing activities - - 1,658,452 - 1,658,452
Net Increase(Decrease)in Cash and Cash Equivalents 1,539,845 (4,840) (472,019) 49,043 1,112,029
Cash and Cash Equivalents-Beginning 5,473,239 144,286 16,784,024 2,243,916 24,645,465
Cash and Cash Equivalents-Ending $ 7,013,084 $ 139,446 $ 16,312,005 $ 2,292,959 5 25,757,494
Cash flows from operating activities:
Operating income(loss) $ (948,606) $ 8,665 $ (1,928,627) $ (910,943) $ (3,779,511)
Adjustments to reconcile operating income(loss)to
net cash provided(used)by operating activities:
Depreciation and amortization 5,953,693 - - 1,349,495 7,303,188
(Increase)decrease in assets and deferred outflows:
Receivables:
Other 1 - (1,306) - (1,305)
Inventory 15,400 - - - 15,400
Prepaid items - - - (445) (445)
Deferred outflows-pension-related 209,894 3,005 7,779 100,901 321,579
Deferred outflows-OPEB-related (24,780) 392 - (10,850) (35,238)
Increase(decrease)in liabilities and deferred inflows:
Accounts payable-trade 287,522 (4,500) (110,730) 1,558 173,850
Accrued payroll 10,135 (340) 438 21,573 31,806
Accrued vacation and sick leave (41,856) - - 4,929 (36,927)
Estimated health claims payable - - (81,295) - (81,295)
Other liabilities - - (1,745) - (1,745)
Net pension liability (377,199) (9,057) (16,122) (129,204) (531,582)
Net OPEB liability 63,424 (1,975) - 27,394 88,843
Deferred inflows-pension-related 47,059 (364) 1,137 37,409 85,241
Deferred inflows-OPEB-related (9,172) (666) - (4,331) (14,169)
Total adjustments 6,134,121 13,505) (201,844) 1,398,429 7,317,201
Net cash provided(used)by operating activities $ 5,185,515 $ (4,840) $ (2,130,471) $ 487,486 5 3,537.690-
Noncash capital and financing activities:
Capital assets acquired through issuance of notes payable $ - $ - $ - $ $ -
1
94
Component Units
Discretely Presented Component Units of the City of Wichita Falls are legally separate entities; however,
the City is considered to be financially accountable for their operations. The five discretely presented
component units are as follows:
.tvichita Falls Economic Development Corporation
The Wichita Falls Economic Development Corporation is a nonprofit corporation formed in May 1997
for the purpose of increasing employment opportunities, primarily through assisting qualified
enterprises with funds provided by a portion of the local sales tax. The Corporation operates under
the authority of Vernon's Civil Statutes,Article 5190.6, Section 4A.
Wichita Falls 4B Sales Tax Corporation
The Wichita Falls 4B Sales Tax Corporation is a nonprofit corporation formed in May 1997 for the
purpose of increasing employment opportunities and for public improvement projects such as parks,
auditoriums, learning centers, open space improvements, athletic and exhibition facilities and the
related maintenance and operating costs of such projects. These projects are funded by a portion of
the local sales tax. The Corporation operates under the authority of Vernon's Civil Statutes, Article
5190.6,Section 4B.
Wichita Falls Reinvestment Zone#2
The Wichita Falls Reinvestment Zone#2 was created in August 2005 by the City, with the advice and
consent of the Wichita Falls Independent School District and Wichita County. The purpose of the
Wichita Falls Reinvestment Zone#2 is to capture increments of growth in real property values in the
designated zone area from base values established in January 2004 and use the ad valorem taxes
derived from the increments to contribute to the zoned area. Tax funds derived from the increment
can only be spent for public improvements in the zoned area or for payment of debt service on bonds
issued to provide funds for public improvements.
Wichita Falls Reinvestment Zone#3
The Wichita Falls Reinvestment Zone#3 was created in September 2009 by the City, with the advice
and consent of the Wichita Falls Independent School District and Wichita County. The purpose of the
Wichita Falls Reinvestment Zone#3 is to capture increments of growth in real property values in the
designated zone area from base values established in January 2009 and use the ad valorem taxes
derived from the increments to contribute to the zoned area. Tax funds derived from the increment
can only be spent for public improvements in the zoned area or for payment of debt service on bonds
issued to provide funds for public improvements.
Wichita Falls Reinvestment Zone#4
The Wichita Falls Reinvestment Zone#4 was created in March 2015 by the City, with the advice and
consent of the Wichita Falls Independent School District and Wichita County. The purpose of the
Wichita Falls Reinvestment Zone #4 is to capture increments of growth in real property values in the
designated zone area from base values established in January 2015 and use the ad valorem taxes
derived from the increments to contribute to the zoned area. Tax funds derived from the increment
can only be spent for public improvements in the zoned area or for payment of debt service on bonds
issued to provide funds for public improvements.
EXHIBIT F-1
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENT OF NET POSITION
COMPONENT UNITS
SEPTEMBER 30,2025
Wichita Falls
Economic Wichita Falls Wichita Falls Wichita Falls Wichita Falls
Development 4B Sales Tax Reinvestment Reinvestment Reinvestment
Corporation Corporation Zone#2 Zone#3 Zone#4 Totals
Assets
Cash and cash equivalents $ 19,613,692 $ 13,933,915 $ 3,759,070 $ 1,594,306 $ 1,919,832 $ 40,820,815
Receivables:
Government agencies 946,431 924,900 - 1,871,331
Other 1,176,021 29,208 - - 1,205,229
Prepaid items - - - -
Capital assets,net of accumulated depreciation 12,357,834 16,332,938 - - - 28,690,772
Total assets 34,093,978 31,220,961 3,759,070 1,594,306 1,919,832 72,588,147
Liabilities
Accounts payable-trade 35,000 28,750 -
- - 63,750
Other liabilities - - - 1,894 - 1,894
Long-term liabilities:
Portion due or payable within one year 195,000 485,000 - - 680,000
Portion due or payable after one year 8,983,810 16,580,000 - - 25,563,810
Total liabilities 9,213,810 17,093,750 - 1,894 •
26,309,454
Net position
Net investment in capital assets 2,036,858 306,759 -
- - 2,343,617
Unrestricted 22,843,310 13,820,452 3,759,070 1,592,412 1,919,832 43,935,076
Total net position $ 24,880,168 $ 14,127,211 $ 3,759,070 $ 1,592,412 $ 1,919,832 $ 46,278,693
95
CITY OF WICHITA FALLS, TEXAS
COMBINING STATEMENT OF ACTIVITIES
COMPONENT UNITS
FOR THE YEAR ENDED SEPTEMBER 30,2025
Program
Revenues
Operating
Grants and
Expenses Contributions
Community development
Wichita Falls Economic Development Corporation $ 8,947,064 $ -
Wichita Falls 4B Sales Tax Corporation 7,455,012 719,047
Wichita Falls Reinvestment Zone#2 1,176,584 -
Wichita Falls Reinvestment Zone#3 - -
Wichita Falls Reinvestment Zone#4 - -
Total component units $ 17,578,660 $ 719,047
General revenues:
Taxes:
Property tax
Sales tax
Investment earnings
Miscellaneous
Total general revenues
Change in net position
Net position-beginning
Net position-ending
96
EXHIBIT F-2
Net(Expense) Revenue and
Changes in Net Position
Wichita Falls
Economic Wichita Falls Wichita Falls Wichita Falls Wichita Falls
Development 4B Sales Tax Reinvestment Reinvestment Reinvestment
Corporation Corporation Zone#2 Zone#3 Zone#4 Totals
$ (8,947,064) $ - $ - $ - $ - $ (8,947,064)
- (6,735,965) - - (6,735,965)
- - (1,176,584) - (1,176,584)
(8,947,064) (6,735,965) (1,176,584) - - (16,859,613)
838,703 170,255 412,228 1,421,186
5,258,905 5,258,905 - 10,517,810
1,159,159 892,536 83,178 75,371 18,309 2,228,553
1,791,691 - - - - 1,791,691
8,209,755 6,151,441 921,881 245,626 430,537 15,959,240
(737,309) (584,524) (254,703) 245,626 430,537 (900,373)
25,617,477 14,711,735 4,013,773 1,346,786 1,489,295 47,179,066
$ 24,880,168 $ 14,127,211 $ 3,759,070 $ 1,592,412 $ 1,919,832 $ 46,278,693
SUPPORTING SCHEDULES
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDED DEBT AND INTEREST MATURITIES
SEPTEMBER 30,2025
Fiscal Year General Obligation Bonds Combination Tax and Revenue Bonds
Ending Serial Bond Interest Total Bonds Serial Bond Interest Total Bonds
September 30, Maturities on Bonds and Interest Maturities on Bonds and Interest
2026 $ 3,020,000 $ 797,927 $ 3,817,927 $ 2,750,000 $ 767,059 $ 3,517,059
2027 2,380,000 669,347 3,049,347 2,120,000 695,271 2,815,271
2028 2,450,000 594,991 3,044,991 2,165,000 647,044 2,812,044
2029 2,525,000 516,915 3,041,915 2,220,000 596,910 2,816,910
2030 1,855,000 449,952 2,304,952 2,275,000 541,927 2,816,927
2031 1,910,000 393,522 2,303,522 2,325,000 485,023 2,810,023
2032 1,765,000 335,216 2,100,216 2,385,000 426,018 2,811,018
2033 1,815,000 281,336 2,096,336 2,445,000 364,810 2,809,810
2034 990,000 225,750 1,215,750 1,145,000 299,781 1,444,781
2035 1,030,000 186,150 1,216,150 1,170,000 278,191 1,448,191
2036 1,070,000 144,950 1,214,950 1,185,000 255,699 1,440,699
2037 1,110,000 102,150 1,212,150 1,215,000 232,357 1,447,357
2038 1,155,000 57,750 1,212,750 1,235,000 208,162 1,443,162
2039 - - 1,260,000 183,148 1,443,148
2040 - - 1,285,000 157,250 1,442,250
2041 - - 1,310,000 130,455 1,440,455
2042 - - 1,340,000 102,761 1,442,761
2043 - - 1,370,000 74,237 1,444,237
2044 - 1,395,000 44,997 1,439,997
2045 - - 1,425,000 15,105 1,440,105
2046 - - - - -
2047 - - - -
2048 - - - -
2049 - - - - -
2050 - - - -
S 23,075,000 $ 4,755,956 $ 27,830,956 $ 34,020,000 $ 6,506,205 $ 40,526,205
97
EXHIBIT G-1
Revenue Bonds Totals-All Bonded Debt
Serial Bond Interest Total Bonds Serial Bond Interest Total Bonds
Maturities on Bonds and Interest Maturities on Bonds and Interest
$ 9,765,000 $ 704,000 $ 10,469,000 $ 15,535,000 $ 2,268,986 $ 17,803,986
2,495,000 216,350 2,711,350 6,995,000 1,580,968 8,575,968
65,000 92,200 157,200 4,680,000 1,334,235 6,014,235
65,000 89,600 154,600 4,810,000 1,203,425 6,013,425
70,000 87,000 157,000 4,200,000 1,078,879 5,278,879
70,000 84,200 154,200 4,305,000 962,745 5,267,745
75,000 81,400 156,400 4,225,000 842,634 5,067,634
75,000 78,400 153,400 4,335,000 724,546 5,059,546
80,000 75,400 155,400 2,215,000 600,931 2,815,931
85,000 72,200 157,200 2,285,000 536,541 2,821,541
85,000 68,800 153,800 2,340,000 469,449 2,809,449
90,000 65,400 155,400 2,415,000 399,907 2,814,907
95,000 61,800 156,800 2,485,000 327,712 2,812,712
95,000 58,000 153,000 1,355,000 241,148 1,596,148
100,000 54,200 154,200 1,385,000 211,450 1,596,450
105,000 50,200 155,200 1,415,000 180,655 1,595,655
110,000 46,000 156,000 1,450,000 148,761 1,598,761
115,000 41,600 156,600 1,485,000 115,837 1,600,837
120,000 37,000 157,000 1,515,000 81,997 1,596,997
120,000 32,200 152,200 1,545,000 47,305 1,592,305
125,000 27,400 152,400 125,000 27,400 152,400
130,000 22,400 152,400 130,000 22,400 152,400
13 5,000 17,200 15 2,200 13 5,000 17,200 15 2,200
145,000 11,800 15 6,800 145,000 11,800 15 6,800
150,000 6,000 156,000 150,000 6,000 156,000
$ 14,565,000 $ 2,180,750 $ 16,745,750 $ 71,660,000 $ 13,442,911 $ 85,102,911
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE
SEPTEMBER 30,2025
Final
Interest Rates Issue Maturity Annual
and(Dates) Date Date Serial Payments
General Obligation Bonds:
General Obligation Refunding Bonds, 2.00,2.25,2.625,2.75, 11/15/15 09/01/26 $ 200,000 (2016)
Series 2015A 3.00,4.00,5.00 810,000 (2017)
(3/1,9/1) 830,000 (2018)
870,000 (2019)
890,000 (2020)
915,000 (2021)
955,000 (2022)
990,000 (2023)
1,030,000 (2024)
1,055,000 (2025)
1,105,000 (2026)
General Obligation Refunding Bonds, 0.73,1.19,1.62,1.99, 11/15/15 09/01/26 110,000 (2016)
Series 2015B 2.29,2.62,2.83,2.91, 255,000 (2017)
3.11,3.27,3.48 255,000 (2018)
(3/1,9/1) 260,000 (2019)
265,000 (2020)
270,000 (2021)
275,000 (2022)
285,000 (2023)
295,000 (2024)
305,000 (2025)
310,000 (2026)
General Obligation Bonds, 2.00,3.00,4.00,5.00 08/01/18 09/01/38 550,000(2019)
Series 2018A (3/1,9/1) 575,000(2020)
595,000(2021)
615,000(2022)
640,000(2023)
670,000(2024)
695,000(2025)
720,000(2026)
750,000(2027)
780,000(2028)
810,000(2029)
845,000(2030)
880,000(2031)
915,000(2032)
950,000(2033)
990,000(2034)
1,030,000(2035)
1,070,000(2036)
1,110,000(2037)
1,155,000(2038)
98
EXHIBIT G-2
(Page 1 of 5)
Bonds
Retired or
Authorized Issued Refunded Outstanding
$ 9,650,000 $ 9,650,000 $ 8,545,000 $ 1,105,000
2,885,000 2,885,000 2,575,000 310,000
16,345,000 16,345,000 4,340,000 12,005,000
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE(CONTD.)
SEPTEMBER 30,2025
Final
Interest Rates Issue Maturity Annual
and(Dates) Date Date Serial Payments
General Obligation Refunding Bonds, 2.00,3.00,4.00 08/01/18 10/01/28 80,000(2019)
Series 2018E (4/1,10/1) 515,000(2020)
530,000(2021)
545,000(2022)
565,000(2023)
590,000(2024)
610,000(2025)
635,000(2026)
675,000(2027)
700,000(2028)
725,000(2029)
General Obligation Refunding Bonds, 0.398,0.686,0.959, 10/01/21 09/01/33 445,000(2022)
Taxable Series 2021 1.109,1.281,1.431, 435,000(2023)
1.573,1.833,2.033 435,000(2024)
(3/1,9/1) 440,000(2025)
85,000(2026)
785,000(2027)
795,000(2028)
805,000(2029)
820,000(2030)
835,000(2031)
850,000(2032)
865,000(2033)
General Obligation Refunding Bonds, 4.00 10/01/21 09/01/31 150,000(2022)
Series 2021 (3/1,9/1) 140,000(2023)
145,000(2024)
160,000(2025)
165,000(2026)
170,000(2027)
175,000(2028)
185,000(2029)
190,000(2030)
195,000(2031)
Total General Obligation Bonds
99
EXHIBIT G-2
(Page 2 of 5)
Bonds
Retired or
Authorized Issued Refunded Outstanding
6,170,000 6,170,000 3,435,000 2,735,000
7,595,000 7,595,000 1,755,000 5,840,000
1,675,000 1,675,000 595,000 1,080,000
44,320,000 44,320,000 21,245,000 23,075,000
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE(CONT'D.)
SEPTEMBER 30,2025
Final
Interest Rates Issue Maturity Annual
and(Dates) Date Date Serial Payments
Combination Tax and Revenue Bonds:
Combination Tax and Revenue 2.00,3.00,3.25,3.375 03/01/13 09/01/33 530,000 (2014)
Certificates of Obligation, (3/1,9/1) 795,000 (2015)
Series 2013 815,000 (2016)
830,000 (2017)
845,000 (2018)
860,000 (2019)
890,000 (2020)
915,000 (2021)
940,000 (2022)
970,000 (2023)
1,000,000 (2024)
1,030,000 (2025)
1,060,000 (2026)
1,090,000 (2027)
1,125,000 (2028)
1,160,000 (2029)
1,195,000 (2030)
1,235,000 (2031)
1,275,000 (2032)
1,315,000 (2033)
Combination Tax and Revenue 2.00,3.00,3.125,3.25, 08/15/13 09/01/33 505,000 (2014)
Certificates of Obligation, 3.625,3.75,4.00,4.25, 500,000 (2015)
Series 2013A 4.375,4.50,4.625 510,000 (2016)
(3/1,9/1) 520,000 (2017)
530,000 (2018)
545,000 (2019)
560,000 (2020)
580,000 (2021)
595,000 (2022)
615,000 (2023)
630,000 (2024)
650,000 (2025)
675,000 (2026)
700,000 (2027)*
730,000 (2028)*
760,000 (2029)*
795,000 (2030)*
830,000 (2031)*
865,000 (2032)*
905,000 (2033)*
*Refunded
100
EXHIBIT G-2
(Page 3 of 5)
Bonds
Retired or
Authorized Issued Refunded Outstanding
19,875,000 19,875,000 10,420,000 9,455,000
13,000,000 13,000,000 12,325,000 675,000
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE(CONT'D.)
SEPTEMBER 30,2025
Final
Interest Rates Issue Maturity Annual
and(Dates) Date Date Serial Payments
Combination Tax and Revenue 0.00,0.09,0.40,0.68, 01/02/15 03/01/45 890,000 (2016)
Certificates of Obligation, 0.89,1.05,1.16,1.29, 960,000 (2017)
Series 2015 1.40,1.47,1.53,1.59 960,000 (2018)
1.64,1.69,1.74,1.79 960,000 (2019)
1.84,1.89,1.93,1.96 965,000 (2020)
1.99,2.02,2.05,2.08 970,000 (2021)
2.10,2.11,2.12 975,000 (2022)
(3/1,9/1) 980,000 (2023)
990,000 (2024)
1,005,000 (2025)
1,015,000 (2026)
1,030,000 (2027)
1,040,000 (2028)
1,060,000 (2029)
1,080,000 (2030)
1,090,000 (2031)
1,110,000 (2032)
1,130,000 (2033)
1,145,000 (2034)
1,170,000 (2035)
1,185,000 (2036)
1,215,000 (2037)
1,235,000 (2038)
1,260,000 (2039)
1,285,000 (2040)
1,310,000 (2041)
1,340,000 (2042)
1,370,000 (2043)
1,395,000 (2044)
1,425,000 (2045)
Total Combination Tax and Revenue Bonds
Revenue Bonds:
Water and Sewer System 2.00,4.00,5.00 06/01/16 08/01/27 2,635,000 (2017)
Revenue Refunding Bonds, (2/1,8/1) 2,885,000 (2018)
Series 2016 6,915,000 (2019)
7,265,000 (2020)
7,635,000 (2021)
8,010,000 (2022)
8,410,000 (2023)
8,835,000 (2024)
9,275,000 (2025)
9,705,000 (2026)
2,435,000 (2027)
101
EXHIBIT G-2
(Page 4 of 5)
Bonds
Retired or
Authorized Issued Refunded Outstanding
33,545,000 33,545,000 9,655,000 23,890,000
66,420,000 66,420,000 32,400,000 34,020,000
74,005,000 74,005,000 61,865,000 12,140,000
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE(CONT'D.)
SEPTEMBER 30,2025
Final
Interest Rates Issue Maturity Annual
and(Dates) Date Date Serial Payments
Venue Tax Revenue Bonds, 4,00 12/01/20 09/01/50 45,000(2021)
Series 2020 (3/1,9/1) 50,000(2022)
50,000(2023)
55,000(2024)
55,000(2025)
60,000(2026)
60,000(2027)
65,000(2028)
65,000(2029)
70,000(2030)
70,000(2031)
75,000(2032)
75,000(2033)
80,000(2034)
85,000(2035)
85,000(2036)
90,000(2037)
95,000(2038)
95,000(2039)
100,000(2040)
105,000(2041)
110,000(2042)
115,000(2043)
120,000(2044)
120,000(2045)
125,000(2046)
130,000(2047)
135,000(2048)
145,000(2049)
150,000(2050)
Total Revenue Bonds
Total All Bonds
102
EXHIBIT G-2
(Page 5 of 5)
Bonds
Retired or
Authorized Issued Refunded Outstanding
2,680,000 2,680,000 255,000 2,425,000
76,685,000 76,685,000 62,120,000 14,565,000
$ 187,425,000 $ 187,425,000 $ 115,765,000 $ 71,660,000
EXHIBIT G-3
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE COVERAGE - REVENUE BONDS
SEPTEMBER 30, 2025
Water and Sewer Revenue Bonds:
Change in net position (Exhibit A-8) $ 10,971,671
Add:
Depreciation and amortization $ 9,650,032
Interest expense and paying agent fees 1,728,362
Transfers out 2,910,670 14,289,064
Subtract:
West Texas Utilities water revenues 500,000
Gain (loss)on sale/abandonment of capital assets 22,515
Capital contributions from developers 1,178,123
Transfers in - (1,700,638)
Net earnings for determining debt service coverage $ 23,560,097
Priority Subordinate
Lien Bonds Lien Bonds
Net earnings for determining debt service coverage $ 23,560,097
Principal and interest requirements to maturity $ 12,868,750 $ -
Number of years remaining to pay bonds 2 N/A
Average annual principal and interest requirement 6,434,375 N/A
Minimum bond covenant debt service coverage 1.25 1.10
Minimum debt service coverage requirement $ 8,042,969 $ - 8,042,969
Excess over debt service coverage requirements $ 15,517,128
103
CITY OF WICHITA FALLS, TEXAS
CAPITAL ASSETS USED IN THE OPERATION OF GOVERNMENTAL FUNDS
SCHEDULE BY FUNCTION AND ACTIVITY
SEPTEMBER 30,2025
Buildings Machinery
Land and and and
Betterments Improvements Equipment
Administrative services:
Mayor and City Council $ - $ - $ -
City Manager - 265,898 2,020
Personnel/Risk Management - - 2,963
Martin Luther King Center - 749,447 -
Library 477,942 4,980,955 844,329
General Public Information - 693,348 229,892
Building Maintenance - 2,770,246 136,877
Nondepa rtmental 46,347 380,754 85,497
- Municipal Court 230,000 310,819 75,951
Legal - - 1,518
Homeland security - 584,968
Training Center - - 2,271
Golf course 3,808,375 1,205,573 93,430
Memorial Auditorium renovation - - -
Total administrative services 4,562,664 11,357,040 2,059,716
Police 1,131,749 10,231,507 16,199,535
Fire 190,565 7,051,522 1,383,002
Parks and recreation:
Recreation 7,776,101 1,880,631 235,519
Park maintenance 4,719,322 731,505 149,328
Trails - - -
Cemetery 141,685 - 6,448
Lake Wichita Revitalization-Boardwalk 3,504,892 - -
Lynwood Community Center - 214,895 -
Total parks and recreation 16,142,000 2,827,031 391,295
Accounting/finance:
Information Systems - - 15,384,679
Total accounting/finance - 15,384,679
Development services:
Planning - - 20,438
Inspection - 1,360
Property management 10,739,072 420,891 9,275
Section 8 housing - - 47,274
Hazard Mitigation grant 170,800 -
Total community development 10,909,872 420,891 78,347
Public works:
Engineering - 61,948 183,229
Street maintenance 415,650 100,108 30,606
Infrastructure 1,365,632
Total public works 1,781,282 162,056 213,835
Health:
Administration 34,820 3,066,352 342,842
General City nursing 76,411 1,123 10,108
Environmental health - - 69,596
Lab water pollution - 45,235
Animal reclaim center 150,737 4,114,850 26,772
Total health 261,968 7,182,325 494,553
Traffic and transportation - 31,045 149,062
Multi-Purpose Events Center 9,560,210 45,157,533 1,038,847
Wichita Falls Business Park 1,099,507 -
-
Total capital assets used in the operation of governmental funds $ 45,639,817 $ 84,420,950 $ 37,392,871
104
EXHIBIT G-4
Furniture
and Right-to-Use Subscription Construction
Fixtures Leased Assets Assets Infrastructure in Progress Totals
$ 5,218 $ - $ - $ - $ - $ 5,218
13,644 - - - - 281,562
4,660 - - - - 7,623
- - - - 749,447
73,266 - - • - 6,376,492
3,184 - - - 926,424
- 2,907,123
24,500 537,098
- 616,770
• - 1,518
- 584,968
- 2,271
- 5,107,378
- - - 13,401,572 13,401,572
99,972 - - 13,426,072 31,505,464
8,759 1,430,641 67,040 25,889 29,095,120
- - - - 8,625,089
- - - - 9,892,251
- - - - 5,600,155
- - - 127,713 127,713
- - - - - 148,133
- - - - - 3,504,892
- - - - - 214,895
- - - - 127,713 19,488,039
- - 827,994 - - 16,212,673
- - 827,994 - - 16,212,673
- - - • - 20,438
- - - - 1,360
• 437,800 11,607,038
- - 47,274
- - - 170,800
- - - • 437,800 11,846,910
- 245,177
- - - - 546,364
- - • 214,444,552 4,903,081 220,713,265
- - 214,444,552 4,903,081 221,504,806
- - 237,789 - 119,356 3,801,159
87,642
- - - - 69,596
- - - - 45,235
- - - - 4,292,359
- 237,789 • 119,356 8,295,991
- - 16,758,041 - 16,938,148
28,953 - 73,405 • 23,251 55,882,199
- - - • - 1,099,507
$ 137,684 $ 1,430,641 $ 1,206,228 $ 231,202,593 $ 19,063,162 $420,493,946
EXHIBIT G-5
CITY OF WICHITA FALLS, TEXAS
CAPITAL ASSETS USED IN THE OPERATION OF GOVERNMENTAL FUNDS
SCHEDULE OF CHANGES BY FUNCTION AND ACTIVITY
FOR THE YEAR ENDED SEPTEMBER 30,2025
Beginning Ending
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Administrative services:
Mayor and City Council 5 5,218 $ •
$ - $ 5,218
City Manager 281,562 - 281,562
Personnel/Risk Management 7,623 - 7,623
Martin Luther King Center 749,447 749,447
Library 5,911,439 465,053 - 6,376,492
General Public Information 926,424 - - 926,424
Building Maintenance 2,907,123 - - 2,907,123
Nondepartmental 512,598 24,500 - 537,098
Municipal Court 616,770 - 616,770
Legal 1,518 - - 1,518
Homeland security 584,968 - 584,968
Training center 2,271 - 2,271
Golf course 5,107,378 - 5,107,378
Memorial Auditorium renovation 4,669,206 8,732,366 - 13,401,572
Total administrative services 22,283,545 9,221,919 - 31,505,464
Police 28,731,085 364,035 - 29,095,120
Fire 8,625,089 - - 8,625,089
Parks and recreation:
Recreation 5,992,906 3,899,345 - 9,892,251
Park maintenance 5,383,970 216,185 5,600,155
Trails 127,713 - 127,713
Cemetery 148,133 - 148,133
Lake Wichita Revitalization 3,504,892 3,504,892
Lynwood Community Center 214,895 • - 214,895
Total parks and recreation 15,244,796 4,243,243 - 1-9,488,039
Accounting/finance:
Information Systems 15,895,201 317,472 16,212,673
Total accounting/finance 15,895,201 317,472 16,212,673
Development services:
Planning 20,438 20,438
Inspection 1,360 - 1,360
Property management 11,157,490 449,548 11,607,038
Section 8 Housing 47,274 - 47,274
Hazard Mitigation Grant 170,800 - 170,800
Total community development 11,397,362 449,548 - 11,846,910
Public works:
Engineering 245,177 245,177
Street maintenance 546,364 - 546,364
Infrastructure 214,474,559 6,238,706 - 220,713,265
Total public works 215,266,100 6,238,706 - 221,504,806
Health:
Administration 3,784,931 16,228 - 3,801,159
General city nursing 87,642 - 87,642
Environmental health 69,596 - 69,596
Lab water pollution 45,235 45,235
Animal reclaim center 4,292,359 - 4,292,359
Total health 8,279,763 16,228 - 8,295,991
Traffic and transportation 16,891,614 46,534 16,938,148
Multi-Purpose Events Center 55,489,074 393,125 55,882,199
Wichita Falls Business Park 1,099,507 - 1,099,507
Total capital assets $ 399,203,136 $ 21,290,810 $ $ 420,493,946
105
EXHIBIT G-6
CITY OF WICHITA FALLS, TEXAS
REGIONAL AIRPORT FUND
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Land and betterments $ 20,491,656 $ - $ - $ 20,491,656
Buildings and improvements 34,322,705 - - 34,322,705
Machinery and equipment 247,609 129,715 - 377,324
Furniture and fixtures 12,829 - - 12,829
Infrastructure 1,308,101 - - 1,308,101
Right-to-use leased assets 3,066,768 - 3,066,768
Total capital assets 59,449,668 129,715 - 59,579,383
Accumulated Depreciation:
Land and betterments 8,510,571 841,394 - 9,351,965
Buildings and improvements 6,795,909 695,235 7,491,144
Machinery and equipment 165,746 38,591 - 204,337
Furniture and fixtures 12,830 - - 12,830
Right-to-use leased assets 954,453 62,587 - 1,017,040
Infrastructure 78,486 17,503 95,989
Total accumulated depreciation 16,517,995 1,655,310 - 18,173,305
Net capital assets $ 42,931,673 $ (1,525,595) $ - $41,406,078
106
EXHIBIT G-7
CITY OF WICHITA FALLS, TEXAS
KICKAPOO AIRPORT FUND
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30,2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Land and betterments $ 13,643,355 $ - $ -
$ 13,643,355
Buildings and improvements 4,052,631 - - 4,052,631
Machinery and equipment 583,215 - 583,215
Construction in progress 35,247 - - 35,247
Total capital assets 18,314,448 - - 18,314,448
Accumulated Depreciation:
Land and betterments 5,093,920 356,411 5,450,331
Buildings and improvements 1,868,122 136,623 - 2,004,745
Machinery and equipment 571,264 11,831 583,095
Total accumulated depreciation 7,533,306 504,865 - 8,038,171
Net capital assets $ 10,781,142 $ (504,865) $ - $ 10,276,277
107
EXHIBIT G-8
CITY OF WICHITA FALLS, TEXAS
TRANSIT FUND
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Land and betterments $ 2,001,247 $ - $ - $ 2,001,247
Buildings and improvements 17,604,543 - - 17,604,543
Machinery and equipment 564,205 29,190 - 593,395
Total capital assets 20,169,995 29,190 - 20,199,185
Accumulated Depreciation:
Land and betterments 121,316 10,748 - 132,064
Buildings and improvements 2,168,221 384,957 - 2,553,178
Machinery and equipment 513,519 13,274 - 526,793
Total accumulated depreciation 2,803,056 408,979 - 3,212,035
Net capital assets $ 17,366,939 $ (379,789) $ - $ 16,987,150
108
EXHIBIT G-9
CITY OF WICHITA FALLS, TEXAS
STORMWATER DRAINAGE FUND
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Drainage $ 33,022,416 $ - $ - $ 33,022,416
Land and betterments 686,528 - - 686,528
Systems and improvements - 149,933 - 149,933
Machinery and equipment 60,395 - - 60,395
Construction in progress 3,257,119 3,249,011 - 6,506,130
Total capital assets 37,026,458 3,398,944 - 40,425,402
Accumulated Depreciation:
Drainage 4,518,018 437,172 - 4,955,190
Land betterments 65,309 6,567 - 71,876
Machinery and equipment 50,796 - - 50,796
Total accumulated depreciation 4,634,123 443,739 - 5,077,862
Net capital assets $ 32,392,335 $ 2,955,205 $ - $ 35,347,540
109
EXHIBIT G-10
CITY OF WICHITA FALLS, TEXAS
SANITATION FUND
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Land and betterments $ 10,109,948 $ 253,826 $ - $ 10,363,774
Buildings and improvements 4,689,760 196,875 - 4,886,635
Machinery and equipment 1,046,767 448,669 - 1,495,436
Construction in progress 312,448 312,448 -
Total capital assets 16,158,923 899,370 312,448 16,745,845
Accumulated Depreciation:
Land and betterments 2,440,109 194,842 - 2,634,951
Buildings and improvements 2,320,674 229,104 - 2,549,778
Machinery and equipment 647,367 76,871 - 724,238
Total accumulated depreciation 5,408,150 500,817 - 5,908,967
Net capital assets $ 10,750,773 $ 398,553 $ 312,448 $ 10,836,878
110
EXHIBIT G-11
CITY OF WICHITA FALLS, TEXAS
WATER AND SEWER FUND
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30,2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Land and betterments $ 24,349,958 $ - $ $ 24,349,958
Buildings, systems and
improvements 419,363,826 11,890,562 431,254,388
Machinery and equipment 7,560,831 659,637 - 8,220,468
Furniture and fixtures 1,164 - 1,164
Construction in progress 7,238,977 674,702 6,839,948 1,073,731
Total capital assets 458,514,756 13,224,901 6,839,948 464,899,709
Accumulated Deprcx:iation:
Land and betterments 12,953,888 247,225 13,201,113
Buildings, systems and
improvements 178,586,645 8,776,786 •
187,363,431
Machinery and equipment 6,119,311 626,021 -
6,745,332
Furniture and fixtures 1,164 - 1,164
Total accumulated depreciation 197,661,008 9,650,032 207,311,040
Net capital assets S 260,853,748 5 3,574,869 S 6,839,948 5 257,588,669
111
EXHIBIT G-12
CITY OF WICHITA FALLS, TEXAS
WATERPARK FUND
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30,2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Land and betterments $ 389,894 $ - $ $ 389,894
Buildings and improvements 4,641,246 - 4,641,246
Machinery and equipment 993,497 1,199,514 - 2,193,011
Total capital assets 6,024,637 1,199,514 - 7,224,151
Accumulated Depreciation:
Buildings and improvements 3,115,364 227,059 - 3,342,423
Machinery and equipment 316,698 200,906 •
517,604
Total accumulated depreciation 3,432,062 427,965 •
3,860,027
Net capital assets $ 2,592,575 5 771,549 $ - $ 3,364,124
112
EXHIBIT G-13
CITY OF WICHITA FALLS, TEXAS
FLEET MAINTENANCE FUND
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Land and betterments $ 436,269 $ - $ - $ 436,269
Buildings and improvements 4,855,820 41,524 4,897,344
Machinery and equipment 1,670,786 58,871 - 1,729,657
Furniture and fixtures 2,950 - 2,950
Motor vehicles 91,348,966 10,762,336 3,844,103 98,267,199
Construction in progress 62,609 - - 62,609
Total capital assets 98,377,400 10,862,731 3,844,103 105,396,028
Accumulated Depreciation:
Land and betterments 2,611 - - 2,611
Buildings and improvements 3,492,551 92,355 - 3,584,906
Machinery and equipment 1,630,570 15,347 1,645,917
Furniture and fixtures 2,950 - - 2,950
Motor vehicles 58,632,836 5,845,991 3,635,482 60,843,345
Total accumulated depreciation 63,761,518 5,953,693 3,635,482 66,079,729
Net capital assets $ 34,615,882 $ 4,909,038 $ 208,621 $ 39,316,299
113
EXHIBIT G-14
CITY OF WICHITA FALLS, TEXAS
DUPLICATING SERVICES FUND
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Machinery and equipment $ 9,117 $ - $ - $ 9,117
Accumulated Depreciation:
Machinery and equipment 9,117 - - 9,117
Net capital assets S - S - S - 5 -
114
EXHIBIT G-15 CITY OF WICHITA FALLS, TEXAS
INFORMATION TECHNOLOGY FUND
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Machinery and equipment $ 14,377,112 $ 317,477 $ - $ 14,694,589
Subscription assets 827,994 - - 827,994
Total capital assets 15,205,106 317,477 - 15,522,583
Accumulated Depreciation:
Machinery and equipment 7,449,542 1,244,258 - 8,693,800
Subscription assets 527,767 105,237 - 633,004
Total accumulated depreciation 7,977,309 1,349,495 - 9,326,804
Net capital assets $ 7,227,797 $ (1,032,018) $ - $ 6,195,779
115
EXHIBIT G-16
CITY OF WICHITA FALLS, TEXAS
WICHITA FALLS ECONOMIC DEVELOPMENT CORPORATION
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Land and betterments $ 1,177,156 $ $ 149,927 $ 1,027,229
Buildings and improvements 6,028,915 - - 6,028,915
Construction in progress 2,871,193 2,799,155 - 5,670,348
Total capital assets 10,077,264 2,799,155 149,927 12,726,492
Accumulated Depreciation:
Buildings and improvements 214,945 153,713 -
368,658
Net capital assets $ 9,862,319 $ 2,645,442 $ 149,927 $ 12,357,834
116
EXHIBIT G-17
CITY OF WICHITA FALLS, TEXAS
WICHITA FALLS 4B SALES TAX CORPORATION
CAPITAL ASSETS AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Balance Balance
10/1/2024 Additions Deletions 9/30/2025
Capital Assets:
Buildings and improvements $ 17,311,310 $ $ - $ 17,311,310
Machinery and equipment 216,851 - - 216,851
Total capital assets 17,528,161 - 17,528,161
Accumulated Depreciation:
Buildings and improvements 577,044 603,531 - 1,180,575
Machinery and equipment 7,228 7,420 - 14,648
Total accumulated depreciation 584,272 610,951 - 1,195,223
Net capital assets $ 16,943,889 $ (610,951) $ $ 16,332,938
117
STATISTICAL SECTION (UNAUDITED)
This part of the City of Wichita Falls, Texas' Annual Comprehensive Financial Report presents detailed
information as a context for understanding what the information in the financial statements, note
disclosures, and required supplementary information says about the government's overall financial
health.
Contents Page
Financial Trends 118
These schedules contain trend information to help the reader understand how the
government's financial performance and well-being have changed over time.
Revenue Capacity 123
These schedules contain information to help the reader assess the government's most
significant local revenue source, the property tax.
Debt Capacity 128
These schedules present information to help the reader assess the affordability of the
government's current levels of outstanding debt and the government's ability to issue
additional debt in the future.
Demographic and Economic Information 133
These schedules offer demographic and economic indicators to help the reader understand
the environment within which the government's financial activities take place.
Operating Information 135
These schedules contain service and infrastructure data to help the reader understand
how the information in the government's financial report relates to the services the
government provides and the activities it performs.
CITY OF WICHITA FALLS, TEXAS
NET POSITION BY COMPONENT
LAST TEN FISCAL YEARS(UNAUDITED)
2015-2016 2016-2017 2017-2018 2018-2019
Governmental activities
Net investment in capital assets $ 148,206,829 $ 150,776,165 $ 150,833,699 $ 152,824,700
Restricted 4,468,638 5,497,793 5,626,033 5,974,408
Unrestricted (64,279,354) (68,466,161) (81,755,666) (85,423,347)
Total governmental activities net position $ 88,396,113 $ 87,807,797 $ 74,704,066 $ 73,375,761
Business-type activities
Net investment in capital assets $ 236,074,244 $ 250,154,417 $ 254,487,928 $ 264,868,493
Restricted 11,082,332 11,046,973 11,571,092 11,780,255
Unrestricted 31,265,371 27,573,458 35,237,418 37,715,916
Total business-type activities net position S 278,421.9,19 $ 288,774,848 $ 301,296,438 $ 314,364,664
Primary government
Net investment in capital assets $ 384,281,073 $ 400,930,582 $ 405,321,627 $ 417,693,193
Restricted 15,550,970 16,544,766 17,197,125 17,754,663
Unrestricted (33,013,981) (40,892,703) (46,518,248) (47,707,431)
Total primary government net position $ 366,818,062 $ 376,582,645 $ 376,000,504 $ 387,740,425
118
EXHIBIT H-1
Fiscal Year
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
$ 155,903,407 $ 160,441,794 $ 160,339,899 $ 170,463,853 $ 178,714,840 $ 193,427,811
6,632,804 7,260,262 9,812,139 11,201,687 14,111,253 15,146,320
(94,509,218) (85,096,370) (70,492,162) (70,135,236) (68,343,604) (74,388,150)
$ 68,026,993 $ 82,605,686 $ 99,659,876 $ 111,530,304 $ 124,482,489 $ 134,185,981
$ 270,540,608 $ 293,604,354 $ 309,284,549 $ 323,219,696 $ 336,375,288 $ 352,550,816
12,008,946 11,836,811 11,840,406 12,395,127 12,817,592 13,421,380
47,578,892 45,447,623 53,612,672 57,082,234 59,570,047 60,371,368
$ 330,128,446 $ 350,888,788 $ 374,737,627 $ 392,697,057 $ 408,762,927 $ 426,343,564
$ 426,444,015 $ 454,046,148 $ 469,624,448 $ 493,683,549 $ 515,090,128 $ 545,978,627
18,641,750 19,097,073 21,652,545 23,596,814 26,928,845 28,567,700
(46,930,326) (39,648,747) (16,879,490) (13,053,002) (8,773,557) (14,016,782)
$ 398,155,439 $ 433,494,474 $ 474,397,503 $ 504,227,361 $ 533,245,416 $ 560,529,545
CITY OF WICHITA FALLS, TEXAS
CHANGES IN NET POSITION
LAST TEN FISCAL YEARS (UNAUDITED)
2015-2016 2016-2017 2017-2018 2018-2019
Expenses
Governmental activities:
Administrative services $ 14,235,870 $ 15,198,841 $ 16,029,050 $ 15,853,414
Police 25,633,843 25,513,220 25,046,425 27,736,316
Fire 17,476,759 21,107,882 24,205,615 21,059,239
Parks and recreation 5,637,654 5,655,633 5,484,893 5,995,353
Accounting/finance 787,945 760,506 663,516 785,465
Community development 6,681,803 6,902,628 6,579,677 7,253,122
Public works 8,334,993 8,551,971 8,563,442 8,533,518
Health 5,707,386 5,814,947 5,798,759 5,964,161
Traffic and transportation 2,667,418 2,579,284 2,383,760 2,951,269
Multi-Purpose Events Center 4,544,817 4,021,413 3,250,928 3,126,421
Interest and fees on long-term debt 1,631,355 1,443,552 1,556,402 1,780,418
Total governmental activities expenses 93,339,843 97,549,877 99,562,467 101,038,696
Business-type activities:
Municipal Airport 1,881,055 1,827,618 1,907,909 2,014,903
Kickapoo Airport 1,252,359 1,198,823 1,259,413 1,451,976
Transit 2,673,176 2,540,427 2,377,201 2,622,657
Sanitation 9,841,683 10,216,686 10,300,771 11,407,943
Water and Sewer 32,120,018 33,288,819 33,426,850 33,564,147
Stormwater drainage 828,537 816,334 796,597 785,974
Waterpark 1,598,720 1,538,193 1,591,560 1,599,828
Total business-type activities expenses 50,195,548 51,426,900 51,660,301 53,447,428
Total primary government expenses $ 143,535,391 $ 148,976,777 $ 151,222,768 $ 154,486,124
Program Revenues
Governmental activities:
Charges for services:
Administrative services $ 4,270,749 $ 4,735,471 $ 4,501,100 $ 4,657,529
Police 335,112 420,289 338,223 288,280
Fire 1,749 36,937 39,598 85,627
Parks and recreation 429,207 441,751 393,227 355,005
Accounting/finance - - -
Development services 1,101,085 1,209,021 1,233,431 1,419,097
Public works 11,824 14,223 10,869 7,511
Health 1,051,834 1,081,910 1,110,658 1,126,273
Traffic and transportation 72,965 126,334 122,384 121,251
Multi-Purpose Events Center 1,561,783 892,049 10,872
Operating grants and contributions 14,803,477 14,934,929 12,437,104 12,908,026
Capital grants and contributions 3,942,929 1,032,502 4,296,164 60,000
Total governmental activities program
revenues 27,582,714 24,925,416 24,493,630 21,028,599
119
EXHIBIT H-2
(Page 1 of 2)
Fiscal Year
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
$ 15,623,435 $ 16,023,333 $ 16,701,365 $ 19,214,246 $ 20,263,581 $ 21,531,912
34,225,996 26,119,364 25,454,226 30,331,586 31,202,927 36,027,347
26,796,338 26,145,244 22,599,594 25,908,574 25,483,398 27,002,868
6,057,586 5,134,632 5,810,019 6,554,341 7,415,430 8,678,216
1,004,472 759,671 722,292 1,061,629 1,109,393 2,460,135
7,586,750 6,955,276 7,498,256 10,261,349 8,402,052 9,080,011
8,708,349 7,894,812 8,620,682 9,329,189 10,628,459 10,765,228
6,630,232 6,229,228 7,065,470 7,585,313 7,550,956 8,000,124
3,255,742 2,412,555 3,076,440 3,265,753 4,195,482 3,790,321
2,791,731 2,848,607 5,134,193 6,049,052 5,177,255 5,951,703
1,607,429 1,695,662 1,455,563 1,306,918 1,214,911 1,102,345
114,288,060 102,218,384 104,138,100 120,867,950 122,643,844 134,390,210
2,097,484 2,753,360 2,929,361 3,041,535 3,055,752 3,160,887
1,282,322 1,185,924 1,642,866 1,549,000 1,581,879 1,631,043
2,552,634 2,254,674 3,123,714 3,377,663 3,431,762 3,388,581
11,727,774 10,138,273 10,857,203 11,688,957 13,787,413 13,644,374
34,893,459 33,126,472 33,728,464 39,661,150 39,813,704 40,086,491
864,517 1,137,854 1,147,940 1,118,252 1,037,049 1,187,465
1,494,829 1,605,187 1,681,431 1,880,642 1,938,552 2,126,250
54,913,019 52,201,744 55,110,979 62,317,199 64,646,111 65,225,091
$ 169,201,079 $ 154,420,128 $ 159,249,079 $ 183,185,149 $ 187,289,955 $ 199,615,301
$ 4,325,538 $ 6,858,710 $ 5,556,508 $ 5,679,417 $ 5,542,717 $ 2,540,887
311,390 263,904 393,772 815,908 321,523 321,378
43,306 106 60,360 63,790 90,273 114,372
293,275 263,101 334,990 417,761 471,058 526,398
- - - 3,360,452
1,426,440 1,549,609 2,231,598 2,170,065 1,825,332 2,163,757
17,999 5,839 39,213 4,014 13,075 3,853
1,107,601 1,132,205 1,131,018 1,134,133 1,122,976 1,148,117
113,048 153,560 109,655 174,841 186,392 143,909
3,482 44,326 1,705,277 2,170,634 2,101,233 2,176,851
21,239,893 17,665,897 17,045,852 22,509,058 18,749,066 20,063,900
1,996,829 1,876,048 1,451,564 3,689,321 9,324,931
28,881,972 29,934,086 30,484,291 36,591,185 34,112,966 41,888,805
CITY OF WICHITA FALLS, TEXAS
CHANGES IN NET POSITION (CONT'D.)
LAST TEN FISCAL YEARS(UNAUDITED)
2015-2016 2016-2017 2017-2018 2018-2019
Business-type activities:
Charges for services:
Regional Airport 1,109,959 1,120,916 1,178,304 1,165,060
Kickapoo Airport 970,129 884,354 924,673 944,394
Transit 503,708 432,083 431,419 498,808
Sanitation 13,223,470 13,394,186 13,701,215 14,776,821
Water and Sewer 42,999,399 43,527,980 46,225,281 44,464,193
Stormwater drainage 3,703,803 3,738,019 3,728,335 3,730,485
Waterpark 1,437,615 1,321,622 1,501,475 1,425,913
Operating grants and contributions 2,282,163 1,701,652 3,938,011 4,857,917
Capital grants and contributions 209,110 396,830 876,211 89,890
Total business-type activities program
revenues 66,439,356 66,517,642 72,504,924 71,953,481
Total primary government program
revenues $ 94,022,070 $ 91,443,058 $ 96,998,554 $ 92,982,080
Net(Expense)/Revenue
Governmental activities $ (65,757,129) $ (72,624,461) $ (75,068,837) $ (80,010,097)
Business-type activities 16,243,808 15,090,742 20,844,623 18,506,053
Total primary government net expense $ (49,513,321) $ (57,533,719) $ (54,224,214) $ (61,504,044)
General Revenues and Other Changes in Net Position
Governmental activities:
Taxes:
Property tax $ 34,515,164 $ 35,120,896 $ 35,842,110 $ 37,898,136
Sales tax 22,373,768 22,413,397 23,861,013 24,894,930
Franchise fees 5,038,247 5,193,721 5,326,403 5,314,591
Hotel occupancy tax 1,910,468 1,878,061 1,952,011 2,075,905
Beverage tax 286,986 281,687 308,333 328,163
Investment earnings 129,886 303,325 625,368 1,375,504
Miscellaneous 474,093 1,660,889 499,060 341,079
Transfers 2,003,892 5,184,169 4,611,766 6,453,485_
Total governmental activities 66,732,504 72,036,145 73,026,064 78,681,793
Business-type activities:
Investment earnings 175,860 415,837 748,434 1,005,000
Miscellaneous 60,331 22,028 89,332 10,654
Transfers (2,003,892) (5,184,169) (4,611,766) (6,453,485)
Total business-type activities (1,767,701) (4,746,304) (3,774,000) (5,437,831)
Total primary government $ 64,964,803 $ 67,289,841 $ 69,252,064 $ 73,243,962
Change in Net Position
Governmental activities $ 975,375 $ (588,316) $ (2,042,773) $ (1,328,304)
Business-type activities 14,476,107 10,344,438 17,070,623 13,068,222
Total primary government $ 15,451,482 $ 9,756,122 $ 15,027,850 $ 11,739,918
120
EXHIBIT H-2
(Page 2 of 2)
Fiscal Year
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
868,429 1,511,517 1,921,572 1,919,173 1,761,288 1,963,306
765,536 757,246 1,127,421 1,080,143 1,110,856 1,139,913
405,969 611,213 538,637 486,204 663,889 555,407
15,192,130 16,154,115 16,901,006 17,208,729 18,578,954 19,505,325
46,673,593 45,810,693 50,122,232 50,034,772 52,793,725 52,568,389
3,787,383 3,706,349 3,751,220 3,755,677 3,767,887 3,791,664
1,271,508 1,779,308 1,677,399 1,904,398 1,784,687 1,770,189
5,738,059 8,223,555 4,311,198 4,605,539 2,346,732 3,434,358
727,961 874,423 3,047,912 2,274,480 1,107,267 1,178,123
75,430,568 79,428,419 83,398,597 83,269,115 83,915,285 85,906,674
$ 104,312,540 $ 109,362,505 $ 113,882,888 $ 119,860,300 $ 118,028,251 $ 127,795,479
$ (85,406,088) $ (72,284,298) $ (73,653,809) $ (84,276,765) $ (88,530,878) $ (92,501,405)
20,517,549 27,226,675 28,287,618 20,951,916 19,269,174 20,681,583
$ (64,888,539) $ (45,057,623) $ (45,366,191) $ (63,324,849) $ (69,261,704) $ (71,819,822)
$ 41,399,096 $ 43,019,695 $ 45,229,447 $ 46,719,098 $ 50,166,104 $ 53,736,357
25,205,996 28,362,467 31,099,772 30,988,808 30,656,869 31,552,997
5,164,750 5,451,658 5,681,541 5,911,738 5,523,727 5,601,741
1,878,957 2,660,388 2,873,908 2,956,265 3,025,700 2,804,065
255,816 309,857 359,797 376,230 369,980 364,368
581,802 47,531 679,311 5,295,711 6,103,382 4,677,595
525,007 521,187 566,004 942,581 841,076 919,192
5,045,896 6,490,207 4,045,947 3,008,234 5,251,416 3,821,815
80,057,320 86,862,990 90,535,727 96,198,665 101,938,254 103,478,130
371,124 23,871 236,378 1,652,400 2,046,798 1,789,073
(1,858) - 2,099 29,101 1,310 28,006
(5,045,896) (6,490,207) (4,045,947) (3,008,234) (5,251,416) (3,821,815)
(4,676,630) (6,466,336) (3,807,470) (1,326,733) (3,203,308) (2,004,736)
$ 75,380,690 $ 80,396,654 $ 86,728,257 $ 94,871,932 $ 98,734,946 $ 101,473,394
$ (5,348,768) $ 14,578,692 $ 16,881,918 $ 11,921,900 $ 13,407,376 $ 10,976,725
15,840,919 20,760,339 24,480,148 19,625,183 16,065,866 18,676,847
$ 10,492,151 $ 35,339,031 $ 41,362,066 $ 31,547,083 $ 29,473,242 $ 29,653,572
CITY OF WICHITA FALLS, TEXAS
FUND BALANCES,GOVERNMENTAL FUNDS-
LAST TEN FISCAL YEARS(UNAUDITED)
2015-2016 2016-2017 2017-2018 2018-2019
General Fund
Nonspendable $ 157,494 $ 131,311 $ 309,042 $ 359,446
Assigned 878,314 1,059,850 964,114 -
Unassigned 13,161,690 13,138,307 14,133,369 18,310,378
Total general fund $ 14,197,498 $ 14,329,468 $ 15,406,525 $ 18,669,824
All other Governmental Funds
Nonspendable $ 84,013 $ - $ - $ 1,822
Restricted 5,729,434 5,617,402 23,075,586 21,903,321
Committed 2,694,718 2,670,133 2,208,977 2,865,289
Unassigned (773,238) (1,224,316) (904,338) (994,338)
Total all other governmental funds $ 7,734,927 $ 7,063,219 $ 24,380,225 $ 23,776,094
121
EXHIBIT H-3
Fiscal Year
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
$ 383,596 $ 251,665 $ 328,907 $ 649,684 $ 422,061 $ 924,757
26,955,178 37,181,391 45,732,320 48,015,435 50,432,693 48,410,691
$ 27,338,774 $ 37,433,056 $ 46,061,227 $ 48,665,119 $ 50,854,754 $ 49,335,448
$ - $ 1,470,561 $ 1,639,863 $ 2,597,356 $ 2,874,619 $ 3,131,394
16,435,498 16,582,041 13,764,738 12,212,135 15,203,776 14,822,515
2,495,627 2,380,635 3,210,175 3,184,286 3,472,787 4,066,185
(994,338) (779,966) (86,381) (151,813) (233,456) (443,918)
$ 17,936,787 $ 19,653,271 $ 18,528,395 $ 17,841,964 $ 21,317,726 $ 21,576,176
CITY OF WICHITA FALLS, TEXAS
CHANGES IN FUND BALANCES,GOVERNMENTAL FUNDS-
LAST TEN FISCAL YEARS(UNAUDITED)
2015-2016 2016-2017 2017-2018 2018-2019
Revenues
Taxes $ 64,201,677 $ 64,886,137 $ 67,254,892 $ 70,389,292
Charges for services 3,370,573 3,340,750 3,339,743 3,426,222
Licenses and permits 1,971,212 1,905,507 1,963,353 2,080,203
Fines and forfeitures 2,561,817 2,795,215 2,757,216 2,833,785
Intergovernmental revenue 13,537,869 10,833,921 9,112,281 8,738,383
Contributions 5,208,537 5,133,510 4,324,823 4,169,643
Miscellaneous revenue 3,120,633 4,239,955 2,499,916 3,274,916
Total revenues 93,972,318 93,134,995 91,252,224 94,912,444
Expenditures
Administrative services 14,805,672 14,870,206 14,778,947 15,235,739
Police 23,580,992 23,883,109 24,205,161 25,064,950
Fire 16,077,272 16,536,044 16,896,863 16,891,819
Parks and recreation 5,204,296 5,277,544 5,287,117 5,423,148
Accounting/finance 702,883 719,865 701,643 753,748
Community development 6,678,753 6,931,301 6,685,328 7,119,550
Public works 5,555,929 5,732,327 5,511,044 5,302,692
Health 5,483,135 5,649,913 5,793,866 5,645,601
Traffic and transportation 2,224,511 2,117,966 2,113,558 2,362,089
Multi-Purpose Events Center 3,718,058 3,231,913 2,415,875 2,286,621
Capital outlay* 6,343,551 6,206,493 5,628,992 7,888,964
Debt service-principal 3,745,000 3,525,000 3,610,000 4,000,000
Debt service-interest 1,764,412 1,591,022 1,597,143 1,912,443
Debt service-bond issuance costs - - -
Total expenditures 95,884,464 96,272,703 95,225,537 99,887,364
Excess of revenues over(under)
expenditures (1,912,146) (3,137,708) (3,973,313) (4,974,920)
Other Financing Sources(Uses)
Proceeds from bonds 13,482,256 - 24,171,317 -
Issuance of notes payable (13,295,568) - 3,310,009 -
Issuance of subscription liabilities - - -
Payment to refunded bonds escrow agent - (6,546,898) -
Transfers in 7,574,334 8,965,770 8,722,620 8,033,886
Transfer out (6,961,378) (6,367,674) (4,393,890) (3,295,594)
Total other financing sources(uses) 799,644 2,598,096 25,263,158 4,738,292
Net change in fund balances $ (1,112,502) $ (539,612) $ 21,289,845 $ (236,628)
Debt service as a percentage of
noncapital expenditures 6.15% 5.68% 5.81% 6.43%
* Some miscellaneous costs (labor, etc)from other departments are also included as capital additions.
122
EXHIBIT H-4
Fiscal Year
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
$ 73,868,498 $ 79,855,276 $ 85,201,256 $ 86,776,370 $ 89,661,409 $ 93,980,249
3,399,064 3,701,539 3,628,485 3,875,847 4,054,112 4,030,926
1,737,778 1,631,602 2,303,431 2,016,267 1,861,123 1,896,041
1,798,401 2,435,469 2,667,978 3,728,902 3,562,866 3,628,709
17,514,038 14,647,769 13,991,338 19,323,854 19,096,646 23,421,299
3,725,855 3,022,874 3,054,514 2,796,604 2,893,986 5,967,532
3,093,988 4,420,330 5,918,640 10,959,685 11,027,752 10,356,084
105,137,622 109,714,859 116,765,642 129,477,529 132,157,894 143,280,840
14,394,187 16,644,153 16,735,288 17,978,073 18,387,773 30,200,498
27,416,198 27,380,379 28,178,657 29,904,433 31,929,167 35,381,985
17,740,642 18,402,915 19,216,297 20,972,473 22,046,971 24,644,948
5,314,741 5,081,829 5,775,749 6,442,448 7,192,658 11,951,918
845,894 853,221 849,276 1,057,534 1,191,878 2,440,324
7,081,495 7,262,275 7,949,102 10,304,073 8,737,674 9,084,674
5,411,047 4,796,841 5,412,349 5,793,264 6,433,371 9,706,077
5,685,128 6,499,796 7,523,335 7,397,026 7,845,457 7,986,008
2,573,962 2,226,382 2,673,643 2,798,352 3,399,346 3,789,808
1,940,870 2,064,199 4,295,907 5,327,942 4,462,383 4,709,243
11,290,435 7,417,749 8,267,619 16,051,010 10,901,063 1,433,457
4,045,000 4,215,000 3,613,482 3,721,606 3,866,606 3,992,544
1,877,363 1,821,451 1,651,608 1,533,392 1,405,349 1,277,302
103,139 83,463 - -
105,616,962 104,769,329 112,225,775 129,281,626 127,799,696 146,598,786
(479,340) 4,945,530 4,539,867 195,903 4,358,198 (3,317,946)
-
2,685,339 3,375,027 - - -
-
304,829 73,405 -
-
(3,292,314) - - -
8,404,493 5,822,104 6,002,411 8,708,035 5,374,608 5,562,215
(5,095,512) (1,642,211) (3,522,108) (7,299,247) (3,685,623) (3,499,089)
3,308,981 6,865,232 2,563,016 1,713,617 1,762,390 2,063,126
$ 2,829,641 $ 11,810,762 $ 7,102,883 $ 1,909,520 $ 6,120,588 $ (1,254,820)
6.28% 6.20% 5.06% 4.64% 4.51% 3.63%
EXHIBIT H-5
CITY OF WICHITA FALLS, TEXAS
TAX REVENUES BY SOURCE,GOVERNMENTAL FUNDS-
LAST TEN FISCAL YEARS(UNAUDITED)
Fiscal Hotel
Year Property Sales Franchise Occupancy Beverage Bingo Total
2015-2016 $ 34,567,763 $ 22,373,768 $ 5,035,947 $ 1,910,477 $ 286,986 $ 26,736 $ 64,201,677
2016-2017 35,110,173 22,413,397 5,193,721 1,878,061 281,687 9,098 64,886,137
2017-2018 35,804,507 23,861,013 5,326,402 1,952,011 308,333 2,626 67,254,892
2018-2019 37,775,703 24,894,930 5,314,591 2,075,905 328,163 70,389,292
2019-2020 41,362,767 25,205,996 5,164,962 1,878,957 255,816 1,211 73,869,709
2020-2021 43,069,773 28,362,467 5,451,658 2,660,388 309,857 1,132 79,855,275
2021-2022 45,183,405 31,099,772 5,682,741 2,873,908 359,797 1,633 85,201,256
2022-2023 46,541,726 30,988,808 5,911,738 2,956,265 376,230 1,602 86,776,369
2023-2024 50,055,987 30,656,869 5,524,654 3,053,421 369,980 498 89,661,409
2024-2025 53,657,078 31,552,997 5,601,741 2,804,065 364,368 93,980,249
123
EXHIBIT H-6
CITY OF WICHITA FALLS,TEXAS
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY-
LAST TEN FISCAL YEARS(UNAUDITED)
Personal Ratio of Total
Real Property Property Total Total Assessed to
Fiscal Assessed Assessed Assessed Direct Estimated Total Estimated
Year Value Value Value Tax Rate Actual Value Actual Value
2015-2016 $ 3,944,783,610 $ 820,827,696 $ 4,765,611,306 $0.70598 $ 4,765,611,306 100.00%
2016-2017 4,031,689,962 817,687,012 4,849,376,974 0.70598 4,849,376,974 100.00%
2017-2018 4,123,022,727 818,629,114 4,941,651,841 0.70598 4,941,651,841 100.00%
2018-2019 4,230,948,499 843,630,297 5,074,578,796 0.72988 5,074,578,796 100.00%
2019-2020 4,387,106,524 889,487,609 5,276,594,133 0.76332 5,276,594,133 100.00%
2020-2021 4,582,918,683 872,960,736 5,455,879,419 0.76332 5,455,879,419 100.00%
2021-2022 4,952,234,074 855,749,261 5,807,983,335 0.76093 5,807,983,335 100.00%
2022-2023 5,662,747,875 933,800,536 6,596,548,411 0.69432 6,596,548,411 100.00%
2023-2024 6,231,204,455 988,587,822 7,219,792,277 0.68000 7,219,792,277 100.00%
2024-2025 6,643,218,327 1,028,045,532 7,671,263,859 0.68480 7,671,263,859 100.00%
124
EXHIBIT H-7
CITY OF WICHITA FALLS, TEXAS
DIRECT AND OVERLAPPING PROPERTY TAX RATES-
LAST TEN FISCAL YEARS(UNAUDITED)
Tax Rates Per$100 Valuation
Fiscal City of Wichita Falls Wichita County Burkburnett ISD(1)
Year M&O l&S Total M&O I&S Total M&O l&S Total
2015-2016 $ 0.69 $ 0.02 $ 0.71 $ 0.55 $ $ 0.55 $ 1.17 $ 0.14 $ 1.31
2016-2017 0.69 0.02 0.71 0.58 0.03 0.61 1.17 0.37 1.54
2017-2018 0.69 0.02 0.71 0.58 0.08 0.66 1.17 0.37 1.54
2018-2019 0.69 0.04 0.73 0.59 0.07 0.66 1.17 0.37 1.54
2019-2020 0.72 0.04 0.76 0.60 0.07 0.67 1.07 0.37 1.44
2020-2021 0.72 0.04 0.76 0.57 0.07 0.64 1.05 0.38 1.43
2021-2022 0.73 0.03 0.76 0.54 0.07 0.61 1.05 0.37 1.42
2022-2023 0.66 0.03 0.69 0.50 0.06 0.56 1.00 0.34 1.34
2023-2024 0.65 0.03 0.68 0.49 0.05 0.54 0.82 0.35 1.17
2024-2025 0.65 0.03 0.68 0.49 0.04 0.53 0.77 0.35 1.12
City View ISD(2) Iowa Park CISD (3) Wichita Falls ISD(4) Grand
M&O l&S Total M&O I&S Total M&O l&S Total Total
2015-2016 $ 1.17 $ 0.25 $ 1.42 $ 1.17 $ 0.16 $ 1.33 $ 1.04 $ 0.19 $ 1.23 $ 6.55
2016-2017 1.17 0.25 1.42 1.17 0.16 1.33 1.04 0.19 1.23 6.84
2017-2018 1.17 0.25 1.42 1.17 0.16 1.33 1.04 0.19 1.23 6.89
2018-2019 1.17 0.25 1.42 1.17 0.16 1.33 1.04 0.18 1.22 6.90
2019-2020 1.07 0.32 1.39 1.07 0.36 1.43 0.97 0.18 1.15 6.84
2020-2021 1.05 0.32 1.37 1.05 0.38 1.43 0.97 0.18 1.15 6.78
2021-2022 1.04 0.32 1.36 1.03 0.38 1.41 0.94 0.43 1.37 6.93
2022-2023 0.96 0.32 1.28 0.94 0.30 1.24 0.87 0.43 1.30 6.41
2023-2024 0.75 0.32 1.07 0.77 0.31 1.08 0.72 0.42 1.14 5.69
2024-2025 0.75 0.32 1.07 0.76 0.31 1.07 0.70 0.41 1.11 5.58
Notes:
(1) Burkburnett Independent School District-25%in Wichita Falls city limits
(2) City View Independent School District-90%in Wichita Falls city limits
(3) Iowa Park Consolidated Independent School District-2%in Wichita Falls city limits
(4) Wichita Falls Independent School District-99%in Wichita Falls city limits
125
EXHIBIT H-8
CITY OF WICHITA FALLS, TEXAS
PRINCIPAL PROPERTY TAXPAYERS
CURRENT YEAR AND NINE YEARS AGO
SEPTEMBER 30,2025
2024-2025 2015-2016
Percentage Percentage
Taxable of Total Taxable of Total
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Valuation Value Rank Valuation
Oncor Electric Delivery Co $ 71,081,510 1 0.93% $ 40,413,930 2 0.85%
Atmos Energy/Mid-Tex Division 54,332,310 2 0.71% 15,951,920 6 0.33%
North American Pipe Corp 25,845,357 3 0.34% 14,985,050 8 0.31%
Arbor Creek Apartments LLC 24,902,900 4 0.32% N/A 0.00%
Warren Power 24,115,892 5 0.31% - N/A 0.00%
Wal-Mart Stores East Inc 22,576,100 6 0.29% 20,645,100 4 0.43%
Wal-Mart Stores Texas LP 20,830,427 7 0.27% 23,724,836 3 0.50%
Sikes Senter Mall Realty Holding LLC 20,599,204 8 0.27% 58,000,000 1 1.22%
United Supermarkets LLC 18,785,851 9 0.24% N/A 0.00%
Winfield Solutions LLC 18,422,709 10 0.24% N/A 0.00%
Quail Creek Crossing Ltd - N/A 0.00% 17,186,000 5 0.36%
Kell West Regional Hospital - N/A 0.00% 15,775,146 7 0.33%
Cryovac Sealed Air Corporation N/A 0.00% 12,762,025 9 0.27%
Alon USA LP N/A 0.00% 12,587,278 10 0.26%
Totals $ 301,492,260 3.93% $ 232,031,285 4.86%
Source:
Wichita Appraisal District
126
EXHIBIT H-9
CITY OF WICHITA FALLS, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS-
LAST TEN FISCAL YEARS(UNAUDITED)
Collected within the
Taxes Levied Fiscal Year of the Levy Collections Total Collections to Date
Fiscal for the Percentage in Subsequent Percentage
Year Fiscal Year Amount of Levy Years Amount of Levy
2015-2016 $ 33,644,264 $ 33,124,968 98.46% $ 403,130 $ 33,528,098 99.65%
2016-2017 34,228,872 33,694,059 98.44% 395,674 34,089,733 99.59%
2017-2018 34,887,074 34,298,367 98.31% 403,436 34,701,803 99.47%
2018-2019 37,037,918 36,347,721 98.14% 495,334 36,843,055 99.47%
2019-2020 40,280,490 39,531,671 98.14% 534,070 40,065,741 99.47%
2020-2021 41,645,982 41,044,294 98.56% 391,004 41,435,298 99.49%
2021-2022 44,194,571 43,425,840 98.26% 327,933 43,753,773 99.00%
2022-2023 45,798,161 44,884,913 98.01% 349,464 45,234,377 98.77%
2023-2024 49,054,634 48,015,584 97.88% 421,282 48,436,866 98.74%
2024-2025 52,461,191 51,387,595 97.95% . 51,387,595 97.95%
127
CITY OF WICHITA FALLS, TEXAS
RATIOS OF OUTSTANDING DEBT BY TYPE-
LAST TEN FISCAL YEARS (UNAUDITED)
Governmental Activities
General Combination
Fiscal Obligation Tax and Revenue Subscription Notes
Year Bonds Revenue Bonds Bonds Liabilities Payable
2015-2016 $ 16,129,132 $ 31,138,675 $ - $ - $ 2,857,166
2016-2017 14,132,973 29,435,100 - - 2,466,589
2017-2018 36,285,854 21,261,971 - - 5,468,665
2018-2019 33,792,967 19,464,301 - - 5,068,463
2019-2020 30,787,806 18,122,209 - - 4,555,678
2020-2021 27,728,646 16,735,708 2,635,000 - 4,010,237
2021-2022 28,178,294 12,487,817 2,585,000 - 3,430,974
2022-2023 25,242,817 11,512,715 2,535,000 460,214 2,816,672
2023-2024 22,206,131 10,507,993 2,480,000 562,787 2,251,238
2024-2025 19,100,776 9,473,663 2,425,000 388,969 2,084,079
(1)Amounts include bond premiums,where applicable.
128
EXHIBIT H-10
Business-type Activities
Utility Combination General Right-to-Use Total Percentage
System Tax and Obligation Notes Leases Primary of Personal Per
Revenue Bonds Revenue Bonds Bonds Payable Payable Government Income Capita
$87,938,263 $51,322,900 $ - $17,357,438 $ - $206,743,574 8.63% $1,974.44
83,098,973 46,298,092 - 19,503,566 - 194,935,293 8.14% 1,861.42
78,150,943 41,170,000 - 18,530,644 - 200,868,077 7.73% 1,917.65
69,257,091 39,665,000 - 17,568,069 - 184,815,891 7.58% 1,767.29
60,215,005 38,140,000 - 16,542,952 - 168,363,650 6.58% 1,610.09
51,014,896 36,590,000 - 15,407,763 - 154,122,250 6.05% 1,472.28
41,662,562 29,435,000 5,808,660 14,208,165 2,876,063 140,672,535 5.19% 1,372.44
32,143,944 27,840,000 5,455,266 12,935,154 2,848,743 123,790,525 4.01% 1,201.99
22,445,713 26,220,000 5,101,872 21,294,880 2,819,467 115,890,081 3.53% 1,128.53
12,565,270 24,565,000 4,744,416 19,549,964 2,788,165 97,685,302 2.88% 952.27
EXHIBIT H-11
CITY OF WICHITA FALLS, TEXAS
RATIOS OF GENERAL BONDED DEBT OUTSTANDING -
LAST TEN FISCAL YEARS(UNAUDITED)
Governmental Activities Percentage of
General Combination Actual Taxable
Fiscal Obligation Tax and Venue Tax Value of Per
Year Bonds (1) Revenue Bonds Revenue Bonds Total Property Capita
2015-2016 $ 16,129,132 $ 31,138,675 $ - $ 47,267,807 0.99% $ 451.42
2016-2017 14,132,973 29,435,100 - 43,568,073 0.90% 416.03
2017-2018 36,285,854 21,261,971 - 57,547,825 1.16% 549.40
2018-2019 33,792,967 19,464,301 - 53,257,268 1.05% 509.27
2019-2020 30,787,806 18,122,209 - 48,910,015 0.93% 467.73
2020-2021 27,728,646 16,735,708 2,635,000 47,099,354 0.86% 449.92
2021-2022 33,986,954 12,487,817 2,585,000 49,059,771 0.84% 478.64
2022-2023 30,698,083 11,512,715 2,535,000 44,745,798 0.68% 434.48
2023-2024 27,308,003 10,507,993 2,480,000 40,295,996 0.56% 392.40
2024-2025 23,845,192 9,473,663 2,425,000 35,743,855 0.47% 348.45
(1)Amount also includes general obligation bonds payable by Business-type Activities.
129
EXHIBIT H-12
CITY OF WICHITA FALLS, TEXAS
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT(UNAUDITED)
SEPTEMBER 30, 2025
Gross Percentage Amount
Governmental Applicable Applicable
Activities to City of to City of
Debt (1) Wichita Falls (2) Wichita Falls
Direct:
City of Wichita Falls $ 33,472,487 100% $ 33,472,487
Overlapping:
Wichita County 59,938,498 100% 59,938,498
Burkburnett Independent School District 29,259,480 25% 7,314,870
City View Independent School District 12,589,292 90% 11,330,363
Iowa Park Consolidated Independent
School District 29,211,059 2% 584,221
Wichita Falls Independent School District 310,006,106 99% 306,906,045
Total overlapping 441,004,435 386,073,997
Total direct and overlapping bonded debt $ 474,476,922 $ 419,546,484
Sources:
(1) Listed taxing jurisdictions
(2) City of Wichita Falls Planning Department calculated based on percentage of taxing entity within the
City of Wichita Falls city limits.
130
CITY OF WICHITA FALLS, TEXAS
COMPUTATION OF LEGAL DEBT MARGIN-
LAST TEN FISCAL YEARS(UNAUDITED)
Total assessed property value per 2024 tax roll $ 7,671,263,859
Maximum tax rate* $ 2.25/$100
Current tax rate for 2023 tax year .6848/$100
Maximum tax rate in excess of 2023 tax rate 1.5652/$100
Total legal debt margin $ 120,070,622
2015-2016 2016-2017 2017-2018 2018-2019
Assessed value $ 4,765,611,306 $ 4,849,376,974 $ 4,941,651,841 $ 5,074,578,796
Maximum tax rate $ 2.25/$100 $ 2.25/$100 $ 2.25/$100 $ 2.25/$100
Current tax rate .70598/$100 .70598/$100 .70598/$100 .72988/$100
Maximum tax rate in excess of current rate 1.54402/$100 1.54402/$100 1.54402/$100 1.52012/$100
Total legal debt margin $ 73,581,992 $ 74,875,350 $ 76,300,093 $ 77,139,687
There is no debt limit established by law. The limit is,therefore,governed by the City's ability to
levy and collect taxes to service the outstanding indebtedness. The City's maximum legal tax rate
established under its Charter is$2.25 per$100 assessed valuation. The 2024 tax rate was$.6848
per$100 assessed valuation.
* Maximum tax levy established by City Charter
131
EXHIBIT H-13
Fiscal Year
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
$ 5,276,594,133 $ 5,455,879,419 $ 5,807,983,335 $ 6,596,548,411 $ 7,219,792,277 $ 7,671,263,859
$ 2.25/$100 $ 2.25/$100 $ 2.25/$100 $ 2.25/$100 $ 2.25/$100 $ 2.25/$100
.763323/$100 .763323/$100 .760928/$100 .694321/$100 .68/$100 .6848/$100
1.486677/$100 1.486677/$100 1.489072/$100 1.555679/$100 1.57/$100 1.5652/$100
$ 78,445,911 $ 81,111,304 $ 86,485,054 $ 102,621,118 $ 113,350,739 $ 120,070,622
CITY OF WICHITA FALLS, TEXAS
PLEDGED REVENUE COVERAGE-WATER AND SEWER REVENUE BONDS-
LAST TEN FISCAL YEARS(UNAUDITED)
Net Revenue
Fiscal Gross Operating Available For
Year Revenues (1) Expenses (2) Debt Service
2015-2016 $ 42,499,482 $ 20,415,375 $ 22,084,107
2016-2017 43,054,453 21,643,920 21,410,533
2017-2018 46,159,318 20,861,265 25,298,053
2018-2019 44,671,282 21,755,354 22,915,928
2019-2020 46,388,403 23,627,160 22,761,243
2020-2021 45,310,693 22,937,053 22,373,640
2021-2022 49,376,771 23,246,418 26,130,353
2022-2023 49,534,772 29,880,384 19,654,388
2023-2024 52,293,725 29,782,626 22,511,099
2024-2025 52,068,389 29,527,365 22,541,024
Notes:
(1) Includes all operating revenues with the exception of water sales to West Texas Utilities
(see Exhibit G-3).
(2) Includes all operating expenses of the Water and Sewer Fund with the exception of
depreciation and amortization (see Exhibit G-3).
(3) Excludes bond premium amortization.
132
EXHIBIT H-14
Debt Service Requirement
Principal (3) Interest Total Coverage
$4,625,000 $ 3,356,255 $ 7,981,255 2.77
2,635,000 3,777,314 6,412,314 3.34
2,885,000 3,535,250 6,420,250 3.94
6,915,000 3,391,000 10,306,000 2.22
7,635,000 2,682,000 10,317,000 2.21
8,010,000 2,300,250 10,310,250 2.17
8,410,000 1,899,750 10,309,750 2.53
8,835,000 1,479,250 10,314,250 1.91
9,275,000 1,037,500 10,312,500 2.18
9,705,000 607,000 10,312,000 2.19
EXHIBIT H-15
CITY OF WICHITA FALLS, TEXAS
DEMOGRAPHIC STATISTICS-
LAST TEN FISCAL YEARS (UNAUDITED)
Per
Capita
Fiscal Estimated Personal Personal Median School Unemployment
Year Population (1) Income Income(1) Age Enrollment(2) Rate(3)
2015-2016 104,710 $ 2,394,298,860 $ 22,866 32.5 15,181 4.8%
2016-2017 104,724 2,395,980,396 22,879 32.5 15,124 3.4%
2017-2018 104,747 2,597,725,600 24,800 32.8 15,150 3.1%
2018-2019 104,576 2,439,548,928 23,328 32.9 15,158 3.0%
2019-2020 104,568 2,558,445,480 24,467 32.9 15,133 7.0%
2020-2021 104,683 2,546,937,390 24,330 33.1 14,144 6.5%
2021-2022 102,498 2,709,432,132 26,434 32.4 14,623 2.3%
2022-2023 102,988 3,083,460,720 29,940 32.8 14,417 3.3%
2023-2024 102,691 3,284,777,017 31,987 33.0 12,868 3.9%
2024-2025 102,581 3,393,174,318 33,078 33.8 12,636 3.5%
Sources:
(1) U.S.Census Bureau
(2) Texas Education Agency
(3) Bureau of Labor Statistics
133
EXHIBIT H-16
CITY OF WICHITA FALLS, TEXAS
PRINCIPAL EMPLOYERS
CURRENT YEAR AND NINE YEARS AGO(UNAUDITED)
SEPTEMBER 30,2025
2024-2025 2015-2016
Percentage Percentage
of Total of Total
City City
Employer Employees Rank Employment Employees Rank Employment
Sheppard Air Force Base 6,750 1 10.07% 12,581 1 17.60%
United Regional Health Care System 2,475 2 3.69% 2,021 3 2.83%
Midwestern State University 1,893 3 2.45% 1,992 4 2.79%
Wichita Falls ISD 1,709 4 2.55% 1,315 5 1.84%
City of Wichita Falls 1,253 5 1.87% 1,238 6 1.73%
North Texas State Hospital 1,073 6 1.60% 2,071 2 2.90%
Howmet Corporation 1,070 7 1.60% 850 8 1.19%
Wal-Mart-3 locations 1,050 8 1.57% 1,140 7 1.59%
Vitro Architectural Glass 940 9 1.40% - N/A -
Cryovac Division-Sealed Air Corp 810 10 1.21% - N/A -
James V.Allred Prison Unit - N/A 0.00% 806 9 1.13%
United Supermarkets-3 locations - N/A 0.00% 778 10 1.09%
Totals 19,023 28.01% 24,792 34.69%
Sources:
All data is from Wichita Falls Chamber of Commerce.
134
CITY OF WICHITA FALLS, TEXAS
FULL-TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS(UNAUDITED)
2015-2016 2016-2017 2017-2018 2018-2019
Administrative services 94.1 86.0 85.7 85.9
Police 299.0 295.8 295.5 295.5
Fire 162.5 162.5 162.5 164.0
Parks and recreation 92.6 89.5 88.8 90.7
Accounting/finance 26.2 26.0 25.7 25.7
Community development 41.0 40.0 40.0 40.0
Public works 78.5 72.5 72.5 72.5
Health 78.7 78.8 76.3 75.4
Traffic and transportation 57.0 52.0 52.0 52.0
Multi-Purpose Events Center 22.8 22.8 4.6 4.0
Water and sewer 188.6 186.1 183.9 183.9
Sanitation 85.5 86.5 86.5 86.5
Regional Airport 1.6 1.6 1.6 1.6
Kickapoo Airport 4.4 4.4 4.4 4.4
Transit 26.7 25.2 25.2 24.2
Stormwater Drainage 1.8 4.8 4.8 4.8
Source: City of Wichita Falls Human Resources Department
135
EXHIBIT H-17
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
86.2 88.4 87.0 96.1 89.0 90.0
295.5 295.5 295.5 295.5 292.5 293.5
164.0 164.0 164.0 165.0 164.0 165.0
90.7 90.9 91.2 89.2 90.5 92.5
25.6 26.3 26.6 27.6 27.0 27.0
40.0 41.0 41.1 42.1 39.6 39.6
71.5 70.0 70.0 72.5 72.5 72.5
75.4 70.3 70.3 73.6 73.4 73.4
50.1 52.0 52.0 52.0 52.5 52.5
4.0 3.5 17.2 18.7 20.7 21.7
183.9 184.0 190.0 193.1 201.0 201.0
86.5 86.5 86.5 84.6 87.5 87.5
3.1 3.1 9.1 9.1 8.6 8.6
4.4 4.4 4.4 4.4 5.4 5.4
24.2 24.2 24.2 28.2 31.2 31.2
4.8 5.3 5.3 5.2 4.8 4.8
CITY OF WICHITA FALLS, TEXAS
OPERATING INDICATORS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS(UNAUDITED)
2015-2016 2016-17 2017-2018 2018-2019
General government
Building permits issued 7,413 7,874 6,590 5,866
Building inspections conducted 11,302 10,803 10,760 12,250
Police
Physical arrests 5,214 5,845 4,869 4,963
Parking violations 110 175 27 113
Traffic violations 19,424 23,514 23,979 23,831
Fire
Emergency responses 9,432 8,442 11,229 12,337
Fires extinguished 477 449 601 490
Inspections 4,133 3,175 3,248 3,295
Refuse collection
Refuse collected (tons) 136,646 136,911 131,442 155,767
Recyclables collected 16,134 18,232 23,079 24,311
Library
Volumes in collection 176,160 820,301 854,142 976,145
Total volumes borrowed 282,808 294,798 333,381 366,800
Water
New connections (2,523) 3,144 160 182
Water main breaks 696 519 766 546
Average daily consumption 14,974 14,180 15,131 13,895
(thousands of gallons)
Wastewater
Average daily sewage treatment 7,900 9,877 8,974 8,927
(thousands of gallons)
Transit
Total route miles 591,417 586,565 591,538 606,501
Passengers 486,104 493,164 464,838 445,029
This information provided by applicable City of Wichita Falls department.
136
EXHIBIT H-18
Fiscal Year
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
5,323 5,492 7,413 7,242 6,241 9,359
13,744 11,821 10,942 13,827 13,692 11,367
3,779 2,768 3,501 3,337 2,961 3,275
32 24 36 48 11 11
15,390 18,749 19,028 21,586 23,206 23,583
12,037 13,518 13,368 13,729 14,329 15,377
576 591 713 621 577 543
937 1,853 2,699 2,839 2,941 3,145
155,752 164,911 181,457 178,867 184,667 198,852
21,730 23,473 23,858 19,774 21,779 22,908
1,002,768 1,190,927 1,508,436 270,947 191,459 139,771
234,496 340,991 306,068 287,385 287,429 181,242
371 224 86 104 122 99
618 401 614 692 611 750
14,110 13,722 14,688 13,296 16,548 12,655
10,339 10,339 9,148 9,070 9,861 11,923
550,901 549,512 561,393 538,491 514,996 577,105
244,265 234,872 243,252 293,574 293,701 489,267
CITY OF WICHITA FALLS, TEXAS
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS(UNAUDITED)
2015-2016 2016-2017 2017-2018 2018-2019
Police
Stations 1 1 1 1
Patrol units 113 113 113 113
Fire stations 8 8 8 8
Refuse collection
Collection trucks 36 36 36 36
Other public works
Streets(miles) 530 531 534 534
Streetlights 8,015 8,451 8,465 8,432
Traffic signals 104 104 102 102
Parks and recreation
Acreage 1,200 1,200 1,200 1,200
Playgrounds 39 39 39 39
Golf courses 1 1 1 1
Water
Water mains(miles) 806 782 808 808
Fire hydrants 2,842 2,822 2,836 2,829
Storage capacity(thousands of gallons) 37,000 37,000 37,000 37,000
Wastewater
Sanitary sewers(miles) 599 592 594 594
Storm sewers(miles) 98 98 99 99
Treatment capacity(thousands of gallons) 21,410 21,410 21,410 21,410
Transit
Buses 13 13 13 13
This information maintained by the City of Wichita Falls Finance Department,with assistance
from various departments.
137
EXHIBIT H-19
Fiscal Year
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
1 1 1 1 1 1
107 117 110 110 127 126
8 8 8 8 8 8
36 36 36 36 36 36
534 570 528 530 615 615
8,453 8,463 8,475 8,478 8,483 8,483
104 104 104 104 104 104
1,200 1,200 1,200 1,200 1,200 1,200
39 39 39 39 39 38
1 1 1 1 1 1
785 781 763 763 763 753
2,883 2,917 2,898 2,873 2,873 3,044
37,000 37,000 37,000 37,000 37,000 38,000
583 583 583 583 583 594
100 172 173 174 174 86
21,410 21,410 21,410 21,410 21,410 21,410
18 18 18 18 20 16
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Docusign Envelope ID:790B49C8-0BDD-4CCD-8062-F02B19F110C1
KEN PAXTON
ATTORNEY GENERAL OF TEXAS
Dear City/Municipality:Wichita Fa11•
Please provide the following information:
1. Your city/municipality's most recent audited financial statement,including the auditor's opinion on
the statement, required under Section 103.001 of the Local Government Code. If your
city/municipality does not have audited financial statements,please use the text box below to explain
why. The audited financial statement is attached.
You may attach additional documentation here if necessary.
2. The date on which the audited financial statement was filed with the office of the municipal secretary
or clerk pursuant to Section 103.003(a)of the Local Government Code.
DATE: 03/17/2026
3. The last day of your city/municipality's fiscal year as referred to in Section 103.003(a)of the Local
Government Code.
DATE: 09/30/2025
4. The name and title of,and the email address for the person who the Office of the Attorney General
can reach out to regarding this information and any potential determination.
NAME: Stephen Calvert
TITLE: CFO/Director of Finance
EMAIL ADDRESS: stephen.calvert@wichitafallstx.gov
PHONE NUMBER: 9 4 0-7 61—7 4 4 9
Post Office Box 12548, Austin, Texas 78711-2548 • (512) 463-2100 • www.texasattorneygeneral.gov
Docusign Envelope ID:790B49C8-0BDD-4CCD-8062-F02B19F110C1
5. The email address for which your city/municipality designated to receive written requests for public
information requests under Government Code Section 552.234(c),if applicable.
EMAIL ADDRESS: info@wichitafallstx.gov
Please do not submit any confidential information. Information received under this request is
subject to release in the instance the OAG received a request for responses to this request.
The Office of the Attorney General appreciates your assistance in this matter.
0 docusign
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Envelope Id: 790B49C8-0BDD-4CCD-8062-F02B19F110C1 Status: Completed
Subject: Public Information Act Request from the Office of Attorney General
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IP Address: 104.190.141.208
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Notary Events Signature Timestamp
Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 4/8/2026 4:36:39 PM
Certified Delivered Security Checked 4/15/2026 12:26:20 PM
Signing Complete Security Checked 4/15/2026 1:48:13 PM
Completed Security Checked 4/15/2026 1:48:13 PM
Payment Events Status Timestamps
Electronic Record and Signature Disclosure
Electronic Record and Signature Disclosure created on:4/1/2018 4:34:18 PM
Parties agreed to:Wichita Falls
CONSUMER DISCLOSURE
From time to time, Office of the Attorney General (we, us or Company) may be required by law
to provide to you certain written notices or disclosures. Described below are the terms and
conditions for providing to you such notices and disclosures electronically through the
DocuSign, Inc. (DocuSign) electronic signing system. Please read the information below
carefully and thoroughly, and if you can access this information electronically to your
satisfaction and agree to these terms and conditions, please confirm your agreement by clicking
the `I agree' button at the bottom of this document.
Electronic signature
An electronic signature is an electronic identifier, created by a computer, attached to or logically
associated with an electronic record, executed or adopted by a person with the intent and with the
actual authority to sign the record. Your electronic signature has the same legal force and effect
as a manual signature. Your electronic signature constitutes your signature, acceptance, and
agreement as if you signed in writing.
Security standards
DocuSign provides security assurance with enterprise-wide ISO 27001:2013 certification, xDTM
compliance, as well as SSAE 16, SOC 1 Type 2, SOC 2 Type 2 reports. DocuSign delivers data
confidentiality with application level AES 256 bit encryption.
Sending information to and receiving information from us
The Public Information Act, chapter 552 of the Texas Government Code, applies to all
information we send and receive. The Public Information Act protects information from public
disclosure if it is confidential by any law or rule. If we receive a written request for information,
the Public Information Act requires us to publicly disclose requested information that is not
confidential by law or rule or otherwise excepted from public disclosure. If you receive any
information from us in error, you are not authorized to read, print, retain, copy, or disseminate
the information. Any information you receive in error may be confidential information that
cannot be disclosed without violating the criminal provisions of the Public Information Act or
Texas Penal Code section 39.06. If you receive information in error, please immediately send an
e-mail to servicedesk@oag.texas.gov to notify us of the error and delete all copies of the
information you received.
Getting paper copies
At any time, you may request from us a paper copy of any record we provided or made available
electronically to you through the DocuSign system. You will have the ability to download and
print documents we send to you through the DocuSign system during and immediately after
signing session and, if you elect to create a DocuSign signer account, you may access them for a
limited period of time (usually 30 days) after such documents are first sent to you. After such
time, if you wish for us to send you paper copies of any such documents from our office to you,
you will be charged a $0.00 per-page fee. You may request delivery of such paper copies from us
by following the procedure described below.
Withdrawing your consent
If you decide to receive notices and disclosures from us electronically, you may at any time
change your mind and tell us that thereafter you want to receive required notices and disclosures
only in paper format. How you must inform us of your decision to receive future notices and
disclosure in paper format and withdraw your consent to receive notices and disclosures
electronically is described below.
Consequences of changing your mind
If you elect to receive required notices and disclosures only in paper format, it will slow the
speed at which we can complete certain steps in transactions with you and delivering services to
you because we will need first to send the required notices or disclosures to you in paper format,
and then wait until we receive back from you your acknowledgment of your receipt of such
paper notices or disclosures. To indicate to us that you are changing your mind, you must
withdraw your consent using the DocuSign `Withdraw Consent' form on the signing page of a
DocuSign envelope instead of signing it. This will indicate to us that you have withdrawn your
consent to receive required notices and disclosures electronically from us and you will no longer
be able to use the DocuSign system to receive required notices and consents electronically from
us or to sign electronically documents from us.
All notices and disclosures will be sent to you electronically
Unless you tell us otherwise in accordance with the procedures described herein, we will provide
electronically to you through the DocuSign system all required notices, disclosures,
authorizations, acknowledgements, and other documents that are required to be provided or made
available to you during the course of our relationship with you. To reduce the chance of you
inadvertently not receiving any notice or disclosure, we prefer to provide all of the required
notices and disclosures to you by the same method and to the same address that you have given
us. Thus, you can receive all the disclosures and notices electronically or in paper format through
the paper mail delivery system. If you do not agree with this process, please let us know as
described below. Please also see the paragraph immediately above that describes the
consequences of your electing not to receive delivery of the notices and disclosures
electronically from us.
How to contact Office of the Attorney General
You may contact us to let us know of your changes as to how we may contact you electronically,
to request paper copies of certain information from us, and to withdraw your prior consent to
receive notices and disclosures electronically as follows:
To contact us by email send messages to: servicedesk@oag.texas.gov
To advise Office of the Attorney General of your new e-mail address
To let us know of a change in your e-mail address where we should send notices and disclosures
electronically to you, you must send an email message to us at servicedesk@oag.texas.gov and in
the body of such request you must state: your previous e-mail address, your new e-mail address.
We do not require any other information from you to change your email address.
In addition, you must notify DocuSign, Inc. to arrange for your new email address to be reflected
in your DocuSign account by following the process for changing e-mail in the DocuSign system.
To request paper copies from Office of the Attorney General
To request delivery from us of paper copies of the notices and disclosures we previously
provided to you electronically, you must send us an e-mail to servicedesk@oag.texas.gov and in
the body of such request you must state your e-mail address, full name, US Postal address, and
telephone number. We will bill you for any fees at that time, if any.
To withdraw your consent with Office of the Attorney General
To inform us that you no longer want to receive future notices and disclosures in electronic
format you may:
i. decline to sign a document from within your DocuSign session, and on the subsequent
page, select the check-box indicating you wish to withdraw your consent, or you may;
ii. send us an e-mail to servicedesk@oag.texas.gov and in the body of such request you
must state your e-mail, full name, US Postal Address, and telephone number. We do not
need any other information from you to withdraw consent. The consequences of your
withdrawing consent for online documents will be that transactions may take longer time
to process.
Required hardware and software
Supported DocuSign supports the latest stable release (except where noted) of the
Browsers: following browsers: Chrome, Firefox, Safari, Internet Explorer 11+, Windows
Edge
PDF Reader: Acrobat® or similar software may be required to view and print PDF files
Screen 1024 x 768 minimum (for desktops and laptops
Resolution:
Allow per session cookies. Users accessing the Internet behind a Proxy Server
Enabled must enable HTTP 1.1 settings via proxy connection. Firewall settings must
Security allow access to the following server: https://docucdn-a.akamaihd.net. DocuSign
Settings: leverages Akamai as a content delivery service to enhance our application's
performance.
** These minimum requirements are subject to change. If these requirements change, you will be
asked to re-accept the disclosure. Pre-release (e.g. beta) versions of operating systems and
browsers are not supported.
Acknowledging your access and consent to receive materials electronically
To confirm to us that you can access this information electronically, which will be similar to
other electronic notices and disclosures that we will provide to you, please verify that you were
able to read this electronic disclosure and that you also were able to print on paper or
electronically save this page for your future reference and access or that you were able to e-mail
this disclosure and consent to an address where you will be able to print on paper or save it for
your future reference and access. Further, if you consent to receiving notices and disclosures
exclusively in electronic format on the terms and conditions described above, please let us know
by clicking the `I agree' button below.
By checking the `I agree' box, I confirm that:
• I can access and read this Electronic CONSENT TO ELECTRONIC RECEIPT OF
ELECTRONIC CONSUMER DISCLOSURES document; and
• I can print on paper the disclosure or save or send the disclosure to a place where I can
print it, for future reference and access; and
• Until or unless I notify Office of the Attorney General as described above, I consent to
receive from exclusively through electronic means all notices, disclosures, authorizations,
acknowledgements, and other documents that are required to be provided or made
available to me by Office of the Attorney General during the course of my relationship
with you.