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City of Wichita Falls
COMPREHENSIVE
ANNUAL
FINANCIAL REPORT
Sept ForemberYear 30Ended, 1991
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1991
ISSUED BY:
DEPARTMENT OF FINANCE
FRED L. WERNER, C.P.A.
DIRECTOR
ON THE COVER
One of the newest facilities in Wichita Falls Is the
Water Treatment Plant.The City began /��i, ;y / y �� �' 4, �'' ' � -
�/ y
construction of the plant September 1, 1990.The first ;; max' x " � %
unit is scheduled to go on line May 1, 1992. j r �
The plant features state of the art equipment from H: ` "`� �' �' � '� � " • :;
computerized processed control systems to training yy
facilities,an operator laboratory,instrument repair
and maintenance service and a closed loop system for v
the utilization of plant generated methane gas for in- � "* "-----, , :-
Waste
plant heating and electrical generation,as well as 9 y
provision for additional electric generating equipmentiro " y
using methane gas from the closed River Road landfill. �'.,
The plant is designed to service the city through the „ „ ff ,
years 2030 to 2050,allowing for ample future growth in ">
the Wichita Falls community.
u
At a cost of 19.5 million dollars,the new facility has a
treatment capacity of 20 million gallons per day and r
brings the city well within federal and state standards ""
for effluent quality.It also provides the capacity to
treat the sewage collected through the new led inch,
25,000 foot long sanitary sewer pipe installed in
Holliday Creek.
Financing for the plant was through federal and state
revenue funds,repayable in 20 years at a low rate of
interest.
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1991
TABLE OF CONTENTS
Exhibit Page
INTRODUCTORY SECTION
Letter of Transmittal i-ix
GFOA Certificate of Achievement x
organizational Chart xi
List of Principal Officials xii
FINANCIAL SECTION
Independent Auditor's Report 1-2
GENERAL PURPOSE FINANCIAL STATEMENTS:
Combined Balance Sheet - All Fund Types and Account Groups A-1 3-4
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types and
Expendable Trust Funds A-2 5
combined statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual - General, Special
Revenue, and Debt Service Funds A-3 6
combined Statement of Revenues, Expenses and Changes in
Retained Earnings - All Proprietary Fund Types A-4 7
Combined Statement of Cash Flows - All Proprietary
Fund Types A-5 8
Notes to the Financial Statements 9-39
REQUIRED SUPPLEMENTARY INFORMATION:
Texas Municipal Retirement System - Analysis of Funding
Progress - Last Ten Plan Years B-1 40
Texas Municipal Retirement System - Revenues by Source
and Expenses by Type - Last Ten Plan Years B-2 41
Firemen's Relief and Retirement Fund - Analysis of
Funding Progress B-3 42
Firemen's Relief and Retirement Fund - Revenues by Source
and Expenses by Type - Last Ten Plan Years B-4 43
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS:
General Fund:
Comparative Balance Sheet C-1 44
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual C-2 45-48
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1991
TABLE OF CONTENTS (CONT'D. )
Exhibit Page
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONT'D. ) :
Special Revenue Funds:
Combining Balance Sheet D--1 49
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual D--2 50
Revenue Sharing Fund:
Comparative Balance Sheet D--3 51
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D--4 52
Civic/Community Promotion Fund:
Comparative Balance Sheet D--5 53
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D--6 54
Hotel/Motel Tax Fund:
Comparative Balance Sheet D--7 55
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D--8 56
Community Development Block Grant Fund:
Comparative Balance Sheet D--9 57
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D-10 58
Miscellaneous Special Revenue Fund:
Comparative Balance Sheet D-11 59
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D-12 60
Section 8 Housing Fund:
Comparative Balance Sheet D-13 61
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D-14 62
Rental Rehabilitation Program Fund:
Comparative Balance Sheet D-15 63
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D-16 64
Debt Service Fund:
Comparative Balance Sheet E-1 65
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual E-2 66
Capital Projects Funds:
Combining Balance Sheet F-1 67
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance F-2 68
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1991
TABLE OF CONTENTS (CONT'D. 1
Exhibit Page
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONT'D. ) :
Enterprise Funds:
Combining Balance sheet G-1 69-70
combining Statement of Revenues, Expenses and
Changes in Retained Earnings G-2 71
Combining Statement of Cash Flows G-3 72
Internal Service Fund:
Comparative Balance sheet H-1 73
Statement of Revenues, Expenses and Changes
in Retained Earnings H-2 74
Statement of Cash Flows H-3 75
Trust and Agency Funds:
Combining Balance Sheet I-1 76
Expendable Trust Funds - Combining Statement
of Revenues, Expenditures and Changes in
Fund Balance I-2 77
Agency Funds - Combining Statement of Changes
in Assets and Liabilities I-3 78-80
SUPPORTING SCHEDULES:
Combined schedule of Bonded Debt and Interest Maturities J--1 81
Combined schedule of Bonds Payable J--2 82-83
Debt Service Coverage - Revenue Bonds J--3 84
General Fixed Assets - Comparative Schedule of
General Fixed Assets - By Sources J--4 85
General Fixed Assets - Schedule of Changes in
General Fixed Assets - By Sources J--5 86
General Fixed Assets - Schedule of General
Fixed Assets - By Function and Activity J--6 87
General Fixed Assets - schedule of Changes in
General Fixed Assets - By Function and Activity J--7 88
Airport Fund - Plant, Equipment and Depreciation J--8 89
Transit Fund - Plant, Equipment and Depreciation J--9 90
Sanitation Fund - Plant, Equipment and Depreciation J-10 91
Water and Sewer Fund - Plant, Equipment and Depreciation J-11 92
Internal service Fund - Plant, Equipment and Depreciation J-12 93
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1991
TABLE OF CONTENTS (CONT'D. )
Exhibit Page
STATISTICAL SECTION (UNAUDITED)
General Governmental Expenditures by Function (General Fund
Only) - Last Ten Fiscal Years K--1 94
General Governmental Revenues by Source (General Fund Only) -
Last Ten Fiscal Years K--2 95
Property Tax Levies and Collections - Last Ten Fiscal Years K--3 96
Assessed and Estimated Actual Value of Taxable Property -
Last Ten Fiscal Years K--4 97
Property Tax Rates and Tax Levies - All Overlapping
Governments - Last Ten Fiscal Years K--5 98
Ten Largest Taxpayers K--6 99
Special Assessment Collections (Capital Improvement
Assessments Fund) - Last Ten Fiscal Years K--7 100
Computation of Legal Debt Margin K--B 101
Ratio of Net General Bonded Debt to Assessed Value and
Net General Bonded Debt Per Capita - Last Ten Fiscal Years K--9 102
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Expenditures -
Last Ten Fiscal Years K-10 103
Computation of Direct and Overlapping Bonded Debt K-11 104
Revenue Bond Coverage - Water and Sewer Revenue Bonds -
Last Ten Fiscal Years K-12 105
Demographic Statistics - Last Ten Fiscal Years K-13 106
Property Value, Building Permits and Bank Deposits -
Last Ten Fiscal Years K-14 107
Miscellaneous Statistical Data K-15 108
Schedule of Insurance Coverage K-16 109-113
Graphics:
Cash and Short-Term Investments L--1 114
Total Bonds Payable L--2 115
General Obligation Bonds Payable L--3 116
Revenue Bonds Payable L--4 117
Total Fund Equity L--5 118
Comparison of Tax Levy and Tax Collections L--6 119
Analysis of Revenues By Source L--7 120
Analysis of Expenditures By Function L--8 121
General Governmental Revenues (General Fund Only) -
Last Ten Fiscal Years L--9 122
General Governmental Expenditures (General Fund
Only) - Last Ten Fiscal Years L-10 123
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INTRODUCTORY SECTION
Wichita F
TEXAS
March 23 , 1992
The Honorable Mayor and Members
of the City Council
James Berzina, City Manager
City of Wichita Falls, Texas
The Comprehensive Annual Financial Report of the City of Wichita
Falls, Texas, for the year ended September 30, 1991, is submitted
herewith. Local governmental accounting principles are primarily
promulgated by the Governmental Accounting Standards Board (GASB) .
These principles have been adhered to in the preparation of this
report. The Notes to the Financial Statements presented with the
General Purpose Financial Statements section are an integral part of
this comprehensive annual financial report and should be read for a
fuller understanding of the statements and information presented
within.
Responsibility for both the accuracy of the presented data and the
completeness and fairness of the presentation, including all
disclosures, rests with the City. We believe the data, as presented
is accurate in all material aspects; that it is presented in a
manner designed to fairly set forth the financial position and
results of operation of the City as measured by the financial
activity of its various funds; and that all disclosures necessary to
enable the reader to gain understanding of the City' s financial
activity have been included.
The Comprehensive Annual Financial Report of the City of Wichita
Falls, Texas, is reported in three sections; introductory, financial
and statistical . The introductory section includes this transmittal
letter, the government 's organizational chart and a list of principal
officials. The financial section includes the General Purpose
Financial Statements and the combining and individual fund and
account group financial statements and schedules, as well as the
auditor's report on the financial statements and schedules. The
statistical section includes selected financial and demographic
information, generally presented on a multi-year basis. This report
includes all funds and account groups of the City.
1300 7th Street PO. Box 1431 817/761-7611 Wichita Falls,Texas 76307
1
The City provides the full range of basic services contemplated by
charter on a continuing basis. These basic services include public
safety (police, fire and building inspection) , highways and streets,
health and welfare services, culture-recreation, public improvements,
planning and zoning and general administration services. In
addition, the City provides water and sewer services for its
citizens.
In accordance with National Council on Governmental Accounting (NCGA)
Statement 3 , which addresses the issue of defining the reporting
entity with respect to other agencies, institutions, commissions,
public authorities, or other governmental organizations for inclusion
in the reporting entity's general purpose financial statements, four
organizations were evaluated. They were the Employee Benefit Trust
Fund, Firemen's Relief and Retirement Fund, Housing Authority of the
City of Wichita Falls, and the Wichita County/City Hospital Board.
Only the Employee Benefit Trust Fund met the criteria for inclusion
in these financial statements. The other three did not meet the
criteria of financial interdependency and therefore were not included
in this report. These organizations have substantial autonomy and
separate governmental entity characteristics and are governed by
separate boards. However, they are not funded by the City. The City
is not obligated to finance any deficits they may incur and the City
does not guarantee their indebtedness.
ECONOMIC CONDITION AND OUTLOOK
The City of Wichita Falls is located in North Central Texas,
approximately 130 miles northwest of the Dallas - Fort Worth
metropolitan area and 145 miles southwest of Oklahoma City. The City
of Wichita Falls is the county seat of Wichita County and was
incorporated in 1889 . There are 53 square miles of land in the
City's boundary. Wichita Falls is the largest city within a 100-mile
radius and, therefore, a trade center for a 22-county area in
southern Oklahoma and north Texas. Retail trade includes building
materials, general merchandise, food stores, automotive, clothing,
home furnishings, restaurants, drug stores, liquor stores, and
miscellaneous retail. Wichita Falls is also a regional medical
center primarily serving a 16-county area. Approximately 240
physicians practice in this area, and there are 19 general and
specialized clinics in Wichita Falls. The community has a 6. 4%
unemployment rate compared to a state rate of 6. 4% as of September
30, 1991.
MAJOR INITIATIVES
For the Year. The City of Wichita Falls has identified programs
to meet citizens requests for services and to safeguard the
environment, in conformity with applicable federal and
state standards. Significant work has been done on the Holliday
Creek channel expansion and progress is going well.
ii
Major Initiatives, Continued.
For the Future. The City was notified on October 18, 1989 that the
final commitment has been made by the Texas Water Development Board
for financial assistance in the amount of $26, 210, 000 from the State
Water Pollution Control Revolving Fund. This will be evidenced by
the Board's purchase of $26, 210, 000 City of Wichita Falls Water and
Sewer System Subordinate Lien Revenue bonds, maturing August 1, 1993
through 2012 . The proceeds from this loan are being used for sewer
treatment plant renovation and expansion and the installation of a
large capacity sewage collection interceptor line.
The City currently is evaluating the feasibility of a general
obligation bond issue for street improvements.
FINANCIAL INFORMATION
In developing and evaluating the City's accounting system,
consideration is given to the adequacy of internal accounting
controls as deemed appropriate by the City Manager. Internal
accounting controls are designed to provide reasonable, but not
absolute, assurance regarding: (1) the safeguarding of assets against
loss from unauthorized use or disposition; and (2) the reliability of
financial records for preparing financial statements and maintaining
accountability for assets. The concept of reasonable assurance
recognizing that: (1) the cost of a control should not exceed the
benefits likely to be derived; and (2) the evaluation of costs and
benefits requires estimates and judgments by the City Manager.
All internal control evaluations occur within the above framework.
The City believes that its internal accounting controls adequately
safeguards assets and provide reasonable assurance of proper
recording of financial transactions.
Budgetary control is maintained at the class level within each
division by the encumbrance of estimated purchase amounts prior to
the release of purchase orders to vendors. Purchase orders which
result in an overrun of class level balances are not released until
additional appropriations are made available. Open encumbrances are
reported as reservations of fund balance at September 30, 1991.
GOVERNMENTAL FUND TYPES, General Fund. Revenues in General Fund
totaled $28 , 486, 903 in the 1990-91 fiscal year, a decrease of . 2%
from the 1989-90 fiscal year. The decrease is due primarily to an
decrease in ad valorem tax collected. General property taxes
produced 46. 57% of general revenues compared to 47. 04% in 1989-90 and
46. 25% in 1988-89.
iii
Governmental Fund Types, Continued.
Increase
(Decrease)
Percent Over Prior
Revenue Source Amount of Total Year
Taxes $23 , 601, 388 82 .85% $ (134 , 703)
Charges for service 1, 068,713 3 . 75 ( 43 , 155)
Licenses and permits 546, 644 1. 91 ( 15, 982)
Fines 789, 439 2 . 77 (110,965)
Intergovernmental revenue 1, 225, 504 4 . 30 446, 038
Miscellaneous revenue 1, 255, 215 4 . 42 (197, 828)
Totals $28,486,903 100. 00% $ (56, 595)
Assessed valuation was $2 , 254 , 335, 700 based on 100% of market
value. Current tax collections were 97. 51% on the tax levy, up . 07%
from last year. The ratio of total collections (current and
delinquent) to the current tax levy was 99. 79%. Allocation of the
property tax levy by purpose for the year ended September 30, 1991,
and the preceding two fiscal years was as follows:
Purposes 1990-91 1989-90 1988-89
General Government $12 , 600, 765 $12 , 734, 735 $12 , 413, 867
Debt Service Fund 2 , 076, 457 2 ,220, 558 2 , 255, 081
The increase in levels of expenditures for major functions of the
City over the preceding year are shown in the following tabulation:
Increase
(Decrease)
Percent Over Prior
Function Amount of Total Year
Administrative Services $ 5, 037, 109 16. 67% $ 381, 529
Police 8, 552, 989 28. 31 193 ,911
Fire 5, 393 ,852 17. 85 32 , 917
Parks and Recreation 2, 433, 579 8 . 05 45, 099
Accounting/Finance 417, 460 1. 38 (10,850)
Planning 269, 972 .89 (56, 895)
Public Works 4, 965, 920 16.43 741, 421
Health 1, 955,763 6. 47 22 , 409
Traffic and Transportation 1, 181, 922 3 .95 (15, 865)
Totals $30, 208, 566 100. 00% $1, 333 , 676
iv
Governmental Fund Types, Continued.
Expenditures from the General Fund totaled $30, 208, 566, an increase
of 4 . 62% over the 1989-90 fiscal year.
The increase in Administrative Services was due to aquisition of
property in the downtown area.
A major change is seen in the Police Department due to an increase in
personnel related cost for full staffing.
The Fire Department had a modest increase in operational costs during
the fiscal year.
The increase in the Parks & Recreation Department was due to the
increases in operational costs.
The increase in the Public Works Department is due to additional
costs associated with engineering of the Holiday Creek Project and
the work at the water treatment plant.
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, 1991, was $. 6479 per $100 which
means that the City has a tax margin of $1. 6 per $100, and could
raise up to $36, 116,712 additional tax revenue a year from the
present assessed valuation of $2 , 254, 335, 700 before the limit is
reached.
General Fund Balance. The fund balance of the general fund decreased
by 8. 28% in 1991. This decrease was due to planned usage of equity
for operations.
SPECIAL REVENUE FUNDS. The Civic/Community Promotion Fund is a
Special Revenue Fund used to account for revenues from various rents
and concessions associated with the Auditorium and the Activity
Center.
The Hotel/Motel Tax Fund is a Special Revenue Fund used to account
for revenues from the City-imposed tax of 7% on rental of hotel/motel
rooms within the City with a 6% State tax for a total of 13%.
v
The Revenue Sharing Fund, Community Development Block Grant Fund,
Rental Rehabilitation Fund and the Section 8 Housing Fund, which are
used to subsidize rents and housing payments for lower income
families within the City, are also included in the Special Revenue
Funds.
CAPITAL PROJECTS FUNDS. The Capital Projects Funds are used to
account for all resources used for the acquisition of capital
facilities except those financed by enterprise funds. At the end of
the fiscal year, completed projects are transferred to General Fixed
Assets. During the 1990-91 fiscal year, expenditures from the
Capital Projects Funds amounted to $1, 381,747 . Capital Projects
Funds equity balances on hand as of September 30, 1991, were
$10, 176, 297 . The significant uncompleted project in Capital Projects
Funds at the present time is:
Holliday Creek Flood Control Project
CAPITAL IMPROVEMENT ASSESSMENTS FUND. The Capital Improvement
Assessment Fund was established to conform to current financial
reporting standards. It is used to account for street and sidewalk
paving projects. Fund balance as of September 30, 1991 was $586, 611.
PROPRIETARY FUNDS, Water and Sewer. The Water and Sewer operations
for the past three years is presented in the following tabulation:
Water and Sewer: 1990-91 1989-90 1988-89
Income Available for Debt
Service $4 ,827,946 $5, 127, 614 $5, 867, 611
Maximum Annual Debt
Service 3 , 595, 338 2 , 905, 214 2 , 456, 678
Maximum coverage (income
available for debt service
divided by maximum annual
debt service) 1. 34 1.76 2 . 39
Airport. Operating revenues of the Airport for the year ended
September 30, 1991, were $211, 522 . This is a decrease of 9. 3% over
the prior year. Operating expenses are comparable to prior year's
with $251, 323 compared to $252, 685.
Transit. Operating revenues of the Transit system were decreased
from the prior year: 1990-91 - $127,411; 1989-90 - $147, 976;
a decrease of 13 . 9%. Operating expenses were: 1990-91 $578, 519 ;
1989-90 $558, 843 ; an increase of 3 .5%.
vi
Sanitation. Sanitation revenues for the year ended September 30,
1991, were $5, 198 ,904 . In 1989-90 they were $5, 336, 392 , a decrease of
2 . 6% from the prior year. Operating expenses decreased 7 . 8% from
$5, 284 , 649 in 1989-90 to $4 , 872 , 856 in 1990-91.
Internal Service Fund. Fleet Maintenance Internal Service Fund. The
City uses an Internal Service Fund for improved maintenance over the
vehicle fleet. Divisions which use the vehicles and equipment are
charged a month rental fee for the use of the vehicle. Total
operating revenues for the year ended September 30, 1991 were
$5, 219, 448 compared to $5, 301, 885 in the prior year.
Fiduciary Funds. Fiduciary Funds are set up for the purpose of
accounting for money and property received from non-enterprise fund
sources and held by a governmental unit in the capacity of trustee,
custodian, or agent for individuals, governmental entities and non-
public organizations. Included in the Fiduciary Funds are the
Employee Benefit Trust Fund, Wichita Falls Reinvestment Zone #1 Fund,
Social Security Fund, Payroll Fund, Tax Collection Fund, Accounts
Payable Fund, and the Deferred Compensation Fund.
The City of Wichita Falls, Texas created the Reinvestment Zone Number
One on March 18 , 1986 under Ordinance 22-86. Subsequent to the
aforementioned date, the City of Wichita Falls, Texas contracted with
the County of Wichita and the Wichita Falls Independent School
District for a 15% reduction in the tax increment which these
entities will be contributing to the Tax Increment Fund for
Reinvestment Zone Number One. Both of these contracts were passed
and approved by Resolution 199-86 and 200-86 respectively on December
16, 1986. The City of Wichita Falls, Texas contributes 100% of the
revenue from its tax increment. Wichita County and Wichita Falls
Independent School District contributes 85% of the revenue from their
tax increment.
The Tax Increment Base for Reinvestment Zone Number One for the 1991
tax year is as follows:
Taxable
Tax Tax Current Captured
Increment Base Increment Base Appraised Value
1-1-86 1-1-91 1-1-91
City $65 , 088 , 519 $53 , 536, 261 $3 , 713 , 406
Wichita County 65, 088, 519 53 , 536, 261 3 , 713 ,406
School 64, 986, 977 53 , 438, 203 3 , 666, 212
vii
Values for January 1, 1991 are subject to modifications by the
Wichita Appraisal District and its Appraisal Review Board.
The Reinvestment Zone Number One has recognized revenues from
the tax increment for the year ended September 30, 1991 in the amount
of $32 , 614 .
DEBT ADMINISTRATION. Outstanding general obligation bonds at
September 30, 1991, totaled $19, 615, 000 and is considered to be
direct tax supported debt. The ratio of net bonded debt to assessed
valuation and the amount of bonded debt per capital are useful
indicators of the City's debt position to municipal management,
citizens and investors. The data for the 1990-91 fiscal year was as
follows:
Ratio of Debt
To Assessed Debt Per
Value Capital
Net Direct Bonded Debt $19 , 033 , 455 . 84% $197
The City's current bond ratings are as follows:
Moody' s Investors Standard &
Service Poor's
General Obligation Bonds Al AA
Water and Sewer Revenue Bonds Al A+
TREASURY MANAGEMENT. Cash which was temporarily idle during the
year, including debt retirement funds, operating funds, and bond
proceeds, was invested in a public funds investment pool, government
securities and repurchase agreements. The total amount of interest
earned on these investments amounted to $2 ,702 , 390.
RI : R MANAGEMENT. During 1990-91, the City of Wichita Falls
continued a risk management program for worker's compensation.
Various risk control techniques, including employee accident
prevention training, have been utilized during the year to minimize
accident-related losses.
viii
OTHER INFORMATION
INDEPENDENT AUDIT. The City Charter requires an annual audit
of the books of account, financial records, and transactions of all
administrative departments of the City by Certified Public
Accountants, selected by the Mayor and City Council. This
requirement has been complied with Mathis, West, Huffines & Co. ,
P.C. 's opinion is included in this report. The statistical section
of this report was not included within the scope of the audit.
AWARDS. The Government Finance Officers Association of the United
States and Canada (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City of Wichita Falls,
Texas, for its Comprehensive Annual Financial Report for the fiscal
year ended September 30, 1990. The Certificate of Achievement is the
highest form of recognition for excellence in state and local
government financial reporting.
In order to be awarded a Certificate of Achievement, a government
unit must publish an easily readable and efficiently organized
Comprehensive Annual Financial Report, whose contents conform to
program standards. Such Comprehensive Annual Financial Report must
satisfy both generally accepted accounting principles and applicable
legal requirements.
A Certificate of Achievement is valid for a period of one year only.
We believe our current report continues to conform to Certificate of
Achievement program requirements, and we are submitting it to the
GFOA.
ACKNOWLEDGEMENTS. Our appreciation is extended to the various
elected officials, department heads and employees responsible for the
fair presentation of the Comprehensive Annual Financial Report and
contributing to the sound financial position of the City of Wichita
Falls. The City of Wichita Falls has been blessed with a group of
persons who appreciate and respect principles of fiscal restraint and
propriety. In particular, I would like to acknowledge the special
effort of the Department of Finance employees who contributed
directly to the development of this report. The continuing support
of Wichita Falls ' elected officials and City Manager, who remain
committed to fiscal integrity and financial leadership, is likewise
appreciated.
Sincerely yours,
CITY OF WICHITA FALLS
red L. rner, CPA
Director of Finance
ix
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Wichita Falls,
Texas
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 1990
A Certificate of Achievement for Excellence in Financial
Reporting is Presented by the Government Financial Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports(CAFR's) achieve the highest
standards in government accounting
and financial reporting.
+0c.E
OF THE FIP
W OMMTEO STATES To
= AMO a
i CORPORATION , President
' ti
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G CMCKO O
Yi-/-74/ ee
Executive Director
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CITY OF WICHITA FALLS
ORGANIZATIONAL CHART
I wIa11TA FALLS I
CITIZENS
I
aTIZENS myCITIZENSM COMMISSIONS
BOARDS
I
MUNICIPAL
COURT
/ CITY
MANAGER I I
CITY CLERK
I ADMINISTRATOR 1
I PUBLIC 1 I
IPfORMATION
I ASSISTANT
aTY MANAGER
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1 I I
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ADMINISTRATIVE
TRAFFIC ANDFINANS SERVCES PLANNING HEALTH
TRANSPORTATION DEPARTMENTDEPARTMENT OEPARTME7IT DEPARTMENT
DEPARTMENT
M.LK DATA r
Cl 4 PROCESSING lADMINISNAT10If_ �pp�IpRE}�IS71 1 INSPECTION Rr
IAIRPORT TRANSPORTATION I I ARNANCE-CCOUNTING 1 I c'I FCTION AUDITORIUM PLANNING T HEALTH
FMARmERS f ACTIVITIES CTR�I TRAFFIC CENTRAL I UTILITY I
11 r DELOPMNT � ,CHNCTMPO1111TIN/ENGINEEING SERVICES Tx*ITKIN LIBRARY l' 1 MAINTENANCE I FOOD CONTROL
MANAGEMENT CONTROL/
LABORATORY
II PURCHASIN71
I I I
PARKS AND I wORPUR UC
POLICE FMlE RECREATIONI U11UT1EUCBS
DEPARTMENT I I DEPARENT DEPARTMENT DEPARTMENT TM
PARKS I 'ENGINEERING SANITATION 1
I sERVICECAL SEFlRVICES I I SONIli INVAR GATION RECREATION MNNTI?IANC£
STRTF?1AEETN C£
UTUIl1E5
IADHINISTRATION1 CEMETTRY EH
MAM
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CITY OF WICHITA FALLS, TEXAS
LIST OF PRINCIPAL OFFICIALS
SEPTEMBER 30, 1991
Title Name
Mayor Michael Lam
Mayor Pro-Tem Donald Kirkham
City Council Member Angus Thompson
City Council Member David Farabee
City Council Member Paul Hughes
City Council Member J. W. Martin
City Council Member Terrance Loughry
City Manager James Berzina
City Attorney Gregory Humbach
Municipal Court Judge Larry Gillen
City Clerk Wilma Thomas
Assistant City Manager Jim Dockery
Director of Traffic and Transportation Robert Parker
Director of Finance Fred Werner, C.P.A.
Director of Administrative Services Jim Dockery
Director of Planning Roger McKinney
Director of Public Health Tom Edmonson
Police Chief Curtis Harrelson
Fire Chief Ronnie James
Director of Parks and Recreation Jack Murphy
Director of Public Works and
Public Utilities George Bonnett, P.E.
xii
a
s tv
L•
FINANCIAL SECTION
IMATHIS, WEST, HUFFINES & CO., P.C. Capital Center• Indiana at Seventh
Certified Public Accountants P.O. Box MWH •Wichita Falls, Texas 76307-7509
—
(817) 723-1471 • FAX (817) 723-2251
LJ J
Independent Auditor's Report
The Honorable Mayor and Members of the City Council
City of Wichita Falls, Texas
We have audited the accompanying general purpose financial statements of the
City of Wichita Falls, Texas, as of and for the year ended September 30, 1991,
as listed in the table of contents. These financial statements are the
responsibility of the City's management. Our responsibility is to express an
opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the general purpose financial statements are
free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the general purpose financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
general purpose financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above
present fairly, in all material respects, the financial position of the City of
Wichita Falls, Texas, at September 30, 1991, and the results of its operations
and the cash flows of its proprietary fund types for the year then ended, in
conformity with generally accepted accounting principles.
The information listed as required supplementary information in the table
of contents is not a required part of the general purpose financial statements,
but is supplementary information required by the Governmental Accounting
Standards Board. We have applied certain limited procedures, which consisted
principally of inquiries of management regarding the methods of measurement and
presentation of the required supplementary information. However, we did not
audit the information and express no opinion on it.
1
Our audit was conducted for the purpose of forming an opinion on the general
purpose financial statements taken as a whole. The combining and individual fund
financial statements and the supplementary information listed as supporting
schedules in the table of contents are presented for purposes of additional
analysis and are not a required part of the general purpose financial statements
of the City of Wichita Falls, Texas. The information has been subjected to the
auditing procedures applied in the audit of the general purpose financial
statements and, in our opinion, is fairly stated in all material respects in
relation to the general purpose financial statements taken as a whole. The
supplementary information in the statistical section as listed in the table of
contents has not been audited by us, and we do not express an opinion on it.
•
MATHIS, WEST, HUFFINES & CO. , P.C.
Wichita Falls, Texas
January 16, 1992
2
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� ,fin /y/// /U/
? / ray.//i // ij ///?
GENERAL PURPOSE FINANCIAL
STATEMENTS
Wichita
1 .
TEXAS tt
EXHIBIT A-1
(Page 1 of 2)
CITT OF WICHITA FALLS, TEXAS
COMBINED BALANCE SHEET - ALL FUND TTPES AND ACCOUNT GROUPS
SEPTBHBER 30, 1991
WITH COMPARATIVE TOTALS FOR Summies R 30, 1990
Fiduciary Account Groups
Governmental Fund Types Proprietary Fund Types Fund Types General General Totals
Special Debt Capital Internal Trust and Fixed Long-Term (Memorandum Only)
General Revenue Service Projects Enterprise Service Agency Assets Debt 1991 1990
ASSETS
Cash and cash equivalents $10,011,849 $1,269,868 $ 562,296 $10,216,192 $ 10,315,883 $ 420,887 $ 564,156 $ - $ - $ 33,361,131 $ 28,451,034
Investments - - - - - - 1,333,591 - - 1,333,591 6,191,651
Receivables (net of allowance for
uncollectible):
Taxes and assessments (Note 5) 1,003,575 200,720 249,740 362,985 - - 2,417,842 - - 4,234,862 4,877,797
Customer and trade - - - - 1,533,204 - - - - 1,533,204 1,840,856
Other City funds (Note 15) 372,103 - - - - - 7 - - 372,110 538,038
Government agencies 808,074 1,120,038 - - 197,320 - 22,634 - - 2,148,066 2,075,220
Other 142,770 3,869 - - 48,553 - - - - 195,192 327,310
Inventory 49,037 - - - 625,277 325,313 - - - 999,627 969,350
Prepaid items 90,677 140,698 - - 30,509 6,890 - - - 268,774 338,783
Restricted assets (Note 6):
Cash and cash equivalents - - - - 8,353,315 - - - - 8,353,315 5,143,445
W Investments - - - - 108,300 - - - - 108,300 2,561,033
Receivables:
Government agencies - - - - 8,593,467 - - - - 8,593,467 1,501,401
Other - - - - 20,421 - - - - 20,421 23,827
Plant and equipment (Note 7):
Land and betterments - - - - 24,598,680 433,658 - 14,574,116 - 39,606,454 39,506,291
Buildings, systems and improvements - - - - 75,109,378 4,008,948 - 14,394,524 - 93,512,850 93,017,369
Machinery and equipment - - - - 2,804,925 - - 4,710,692 - 7,515,617 7,259,978
Furniture and fixtures - - - - 44,862 5,974 - 421,708 - 472,544 480,631
Motor vehicles and equipment - - - - 3,670 17,021,284 - 56,861 - 17,081,815 16,218,333
Construction in progress - - - - 22,289,470 87,414 - - - 22,376,884 5,650,573
Accumulated depreciation - - - - ( 36,516,032) ( 10,343,212) - - - ( 46,859,244) ( 43,780,592)
Deferred charges - - - - 554,278 - - - - 554,278 593,869
Other assets 2,837 - - - - - - - - 2,837 524
Amount available for retirement of bonds - - - - - - - - 581,545 581,545 694,935
Amount to be provided for the retirement
of capital 1 - - - - - - - - 46,491 46,491 66,626
Amount to be provided for accrued
vacation and sick leave - - - - - - - - 3,243,767 3,243,767 3,246,745
Amount to be provided for the
retirement of bonds - - - - - - - - 19,033,455 19,033,455 19,630,065
Amount to be provided for claims
and judgments - - - - - - - - 78,008 78.008 87,836
Total assets $12,480„922 $2,735,193 $ 812,036 $10,579,177 $118,7152480 $11,967,156 $4,338,230 $34,157„901 $22,983,266 $218,769,361 $197,512,928
The accompanying Notes are an integral part of these financial statements.
EXHIBIT A-1
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
COMBINED RALis= SHEET -ALL FOND TYPES AND ACCOOST catoups (CONT'D.)
SEPTEMBER 30, 1991
NITS COMPARATIVE TOTALS FOR SEPTE BER 30, 1990
Fiduciary Account Groups
Governmental Fund Types Proprietary Fund Types Fund Types General General Totals
Special Debt Capital Internal Trust and Fixed Long-Term (Memorandum Only)
General Revenue Service Projects Enterprise Service Agency Assets Debt 1991 1990
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable - trade $ 416,019 $ 100,190 $ - $ 25,910 $ 323,491 $ 202,649 $ 99,723 $ - $ - $ 1,167,982 $ 1,648,452
Accrued payroll 304,195 7,096 - - 288,365 56,177 - - - 655,833 574,285
Accrued vacation and sick leave
(Note 18) 100,000 - - - - - - - 3,243,767 3,343,767 3,346,745
Payable to other City funds (Note 15) - 176,270 - - 195,833 - 7 - - 372,110 538,038
Payable to government agencies 69,520 13,795 - - 2,196 - 2,416,852 - - 2,502,363 2,861,737
Estimated health claims payable - - - - - - 370,625 - - 370,625 316,546
Other liabilities 524,150 66,292 - 13,985 174,498 4,100 1,336,724 - - 2,119,749 1,665,292
Deferred revenue 916,211 - 230,491 362,965 - - - - - 1,509,687 1,861,990
Capital 1 payable (Note 12) - - - - - - - - 46,491 46,491 66,626
Claims and judgments payable (Note 18) - - - - - - - - 78,008 78,008 87,836
Payable from restricted assets:
Contracts and trade - - - - 1,893,146 - - - -
1,893,146
Revenue bonds (Note 13) - - - - 725,000 - - - - 725,000 680,000
Accrued interest - revenue bonds - - - - 404,809 - - - - 404,809 300,344
Matured bonds and interest payable - - - - 3,000 - - - - 3,000 3,000
General obligation bonds payable
(Note 13) - - - - - - - - 19,615,000 19,615,000 20,325,000
Payable to U.B. Government (Note 10) - - - - 1,042,169 - - - - 1,042,169 1,059,672
Revenue bonds payable (Note 13) - - - - 44,543,467 - - - - 44,543,467 24,146,401
Other long-term liabilities:
Customer deposits - payable from
restricted assets - - - - 1,132,321 - - - - 1,132,321 1,080,408
Total liabilities 2,330.095 363,643 230,491 402.880 50,728,295 262,926 4,223,931 - 22,983,266 81,525.527 61,523,334
Fund equity:
Contributed capital (Note 17) - - - - 22,466,061 12,497,858 - - - 34,963,919 34,805,085
Investment in general fixed assets - - - - - - - 34,157,901 - 34,157,901 33,586,301
Retained earnings (deficit):
Reserved for revenue bond
debt service - - - - 3,014,427 - - - - 3,014,427 2,873,399
Unreasrved (Note 3) - - - - 42,506,697 ( 793,628) - - - 41,713,069 40,055,079
Fund balances:
Reserved for encumbrances 1,018,427 499,099 - 5,800,273 - - - - - 7,317,799 6,430,624
Reserved for inventory and
prepaid items 139,714 137,698 - - - - - - - 277,412 377,298
Unreserved:
Designated for:
Subsequent years expenditures 2,500,000 1,451,383 - 4,376,024 - - 114,299 - - 8,441,706 9,646,774
Debt service - - 581,545 - - - - - - 581,545 694,935
Undesignated (Note 3) 6,492.686 283,370 - - - - - - - 6,776,056 7,520,099
Total fund equity 10,150,827 2,371,550 581,545 10,176,297 67,987,185 11,704,230 114,299 34,157,901 - 137,243,834 135,989,594
Total liabilities and fund equity 612,480,922 82,335,193 $ 812,036 510,579,177 $118,715,480 $11,967,156 $4,338,230 $34,157,901 $22,983,266 $218,769,361 $197,512,928
The accompanying Notes aze an integral part of these financial statements.
EXHIBIT A-2
CITY OF WICHITA FALLS, TEXAS
COMBINED STATEMENT OF REVENUES, ..,..:..,i........i...s AND CHANGES IN FUND BALANCES -
ALL ..,..a.,i.�..i.� FUND TTPES AND EXPBNDAHLE TRUST FU DS
FOR THE TEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE TOTALS FOR THE TEAR ENDED SEPTEMBER 30, 1990
Fiduciary
Governmental Fund Types Fund Types Totals
Special Debt Capital Expendable (Memorandum Only)
General Revenue Service Projects Trust 1991 1990
Revenues:
Taxes (Note 5) $23,601,388 $ 711,398 $2,064,874 $ - $ 32,614 $26,410,274 $26,621,094
Charges for services 1,068,713 156,533 - - - 1,227,246 1,234,406
Licenses and permits 546,644 - - - - 546,644 440,088
Fines and forfeitures 789,439 32,907 - - - 822,346 900,404
Intergovernmental revenue 1,225,504 2,959,208 - - - 4,184,712 3,690,448
Contributions - - - - 2,349,638 2,349,638 2,336,328
Miscellaneous revenue 1,255,215 420,497 108,460 801,695 - 2,585,867 3,112,909
Total revenues 28,486,903 4,282,543 2,173,334 801,695 2,382,252 38,126,727 38,335,677
Expenditures:
Current:
Administrative services division 5,037,109 2,722,868 - - 2,335,388 10,095,365 9,769,771
Police division 8,552,989 - - - - 8,552,989 8,359,078
Fire division 5,393,852 - - - - 5,393,852 5,360,935
Parks and recreation division 2,433,579 298,818 - - - 2,732,397 2,735,639
Accounting/finance division 417,460 - - - - 417,460 428,310
ll' Planning division 269,972 - - - - 269,972 326,867
Public works division 4,965,920 714,428 - - - 5,680,348 5,505,299
Health division 1,955,763 94,930 - - - 2,050,693 2,026,464
Traffic and transportation division 1,181,922 - - - - 1,181,922 1,536,236
Capital outlay - 163,344 - 1,381,747 - 1,545,091 1,672,441
Debt service:
Principal retirement - - 710,000 - - 710,000 670,000
Interest and paying agent fees - - 1,576,724 - - 1,576,724 1,617,739
Total expenditures 30,208,566 3,994,388 2,286,724 1,381,747 2,335,388 40,206,813 40,008,779
Excess of revenues over (under) expenditures ( 1,721,663) 288,155 ( 113.390) ( 580,052) 46,864 ( 2,080,086) ( 1,673,102)
Other financing sources (uses):
Operating transfers in (Note 15) 966,084 152,893 - - - 1,118,977 1,197,403
Operating transfers out (Mote 15) ( 161.210) ( 152,893) - - - _ ( 314,103) ( 460.377)
Total other financing
sources (uses) 804,874 - - - - _ 804,874 737,026
Excess of revenues and other sources over
(under) expenditures and other uses ( 916,789) 288,155 ( 113,390) ( 580,052) 46,864 ( 1,275,212) ( 936,076)
Fund balance - beginning 11,067,616 2,083,395 694,935 10,756,349 67,435 24,669,730 25,605,806
Fund balance - ending $10„150,827 $2,371,550 $ 581,545 $10,176,297 $ 114,299 $23,394,518 $24,669,730
The accompanying Notes are an integral part of these financial statements.
EXHIBIT A-3
CITY OF VICBITA FALLS, TEXAS
C06BXH ) STAS'EBOFT OF REVOOES, ....u,..,...,...�...Alm CBAMaS lB FO®BAi.610ES - BOD6Bi ABD ACTUAL-
GENERAL. SPACIAL BEVnIE, AND DEBT SERVICE FUNDS
• FOR THE TEAR ENDED SEPTEMBER 30, 1991
Total.
General Fund Special Revenue Fund. Debt Service Fund (Memorandum Only)
Variance - Variance - Variance - Variance -
Favorable Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
Revenues:
Tame. (Note 5) $23,200,445 923,601,388 $ 392,943 $ 575,000 $ 711,398 $ 136,398 $2,290,615 $2,064,874
IL 225,741) 526,074,060 526,377,660 $ 303,600
Charge. for service. 1,076,467 1,066,713 ( 7,754) 169,673 158,533 ( 11,140) - - - 1,246,140 1,227,246 ( 18,894)
Licenses and permits 553,076 546,644 ( 6,434) - - - - - - 553,076 546,644 ( 6,434)
Fines and forfeiture. 975,925 789,439 ( 186,466) 35,213 32,907 ( 2,306) - - - 1,011,138 822,346 ( 186,792)
Intergovernmental revenue 1,304,895 1,225,504 ( 79,391) 3,002,728 2,959,208 ( 43,520) - - - 4,307,623 4,164,712 ( 122,911)
Miscellaneous revenue 1,169,459 1,255,215 95,756 326,666 420,497 93,831 - 108,460 106,460 1,496,125 1,764,172 288,047
Total revenues 28,288.269 28,486,903 198,634 4,109,280 4,262,543 173,263 2,290,615 2,173,334 ( 117,281) 34,688,164 34,942,780 254,616
Expenditure.:
Currents
Administrative service.
di • ' 5,210,182 5,037,109 181,073 3,065,723 2,722,868 342,855 - - - 8,263,905 7,759,977 523,928
Police division 9,261,227 0,552,909 708,238 - - - - - - 9,261,227 8,552,989 708,236
Fire division 5,416,697 5,393,852 23,045 - - - - - - 5,416,897 5,393,852 23,045
0" Parks and recreation
division 2,867,329 2,433,570 433,750 614,046 298,618 315,228 - - - 3,481,375 2,732,397 748,978
Accounting/finance division 442,847 417,460 25,367 677 - 677 - - - 443,524 417,460 26,064
Planning division 286,123 269,972 16,151 - - - - - - 286,123 269,972 16,151
Public work. division 5,320,328 4,965,920 354,406 1,414,104 714,426 699,676 - - - 6,734,432 5,680,348 1,054,064
Health divi.ion 2,113,486 1,955,763 157,723 96,029 94,930 1,099 - - - 2,209,515 2,050,693 156,622
Traffic and transportation
d' 1,241,468 1,161,922 59,546 104,654 - 104,654 - - - 1,346,122 1,181,922 164,200
Capital outlay - - - 503,665 163,344 340,321 - - - 503,665 163,344 340,321
Debt services
Principal retirement - - - - - - 710,000 710,000 - 710,000 710,000 -
Interest and paying
agent fee. - - - - - - 1,580,615 1,576,724 3,691 1,580,615 1,576,724 3,891
Total .xp.nditure. 32,167,887 30,208,566 1,959,321 5,798,896 3,994,300 1,804,510 2,290,615 2,206,72{ 3,691 40,257,400 36,489,676 3,767,722
Excess of revenues over
(under) empendituree ( 3,079,618) ( 1,721,663) 2,157,955 ( 1,689,610) 288,155 1,977,773 - ( 113,390) ( 113,390) ( 5,569,236) ( 1,546,898) 4,022,338
Other financing source. (uses).
Operating tren.fer. in
(Not. 15) 966,084 966,064 - 183,025 152,893 ( 30,132) - - - 1,149,109 1,118,977 ( 30,132)
Operating transfer. out
(Mote 15) ( 222,969) ( 161.210) 61,759 ( 103,025) ( 152,893) 30,112 - - - ( 405.994) ( 314,103) 91,691
Total other financing
source. (uses) 743,115 804,074 61,759 - - - - - - 743,115 804,874 61,759
Excess of revenues and other
sources over (under)
.xpenditure. and other u.e. ($ 3,136,503) ( 916,789) $2,219,714 ($1,689,618) 288,155 $1,977,773 $ - ( 113,390) ($ 113,390) ($ 4,826,121) ( 742,024) 84,084,097
Fund balance - beginning 11,067,616 2,083,395 694,935 13,845,946
Fund balance - ending $10,150,827 $2,371,550 $ 581,543 $13,103,922
The accompanying Note. are an integral part of these financial statements.
EXHIBIT A-4
CITY OF WICHITA FALLS, TEXAS
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS -
ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1990
Proprietary Fund Types Totals
Internal (Memorandum Only)
Enterprise Service 1991 1990
Operating revenues:
Charges for services $18,357,383 $ - $18,357,383 $18,055,639
Rents, concessions and other 337,725 5,219,448 5,557,173 5,701,112
Total operating revenues 18,695,108 5,219,448 23,914,556 23,756,751
Operating expenses:
Personnel services 5,623,986 1,020,735 6,644,721 6,578,232
Supplies and materials 705,084 1,157,183 1,862,267 1,882,634
Maintenance and repairs 5,438,395 1,164,490 6,602,885 6,451,205
Utilities and other services 2,554,398 188,873 2,743,271 2,545,089
Insurance and contract support 540,777 13,336 554,113 541,820
Depreciation and amortization 1,976,233 1,905,329 3,881,562 3,746,096
Total operating expenses 16,838,873 5,449,946 22,288,819 21,745,076
Operating income (loss) 1,856,235 ( 230,498) 1,625,737 2,011,675
Nonoperating revenues (expenses):
Interest income 1,167,993 - 1,167,993 1,263,719
Gain on sale of fixed assets - 114,695 114,695 103,990
Litigation proceeds - - - 51,980
Interest expense and paying agent fees ( 582,568) - ( 582,568) ( 584,477)
Contributions from operating grants 387,276 - 387,276 182,646
Total nonoperating revenues
(expenses) 972,701 114,695 1,087,396 1,018,058
Income (loss) before operating transfers 2,828,936 ( 115,803) 2,713,133 3,029,733
Operating transfers:
Operating transfers in (Note 15) 161,210 - 161,210 213,515
Operating transfers out (Note 15) ( 653,650) ( 312,434) ( 966,084) ( 950,541)
Net operating transfers ( 492,440) ( 312,434) ( 804,874) ( 737,026)
Net income (loss) 2,336,496 ( 428,237) 1,908,259 2,292,707
Retained earnings (deficit) - beginning 43,293,869 ( 365,391) 42,928,478 40,644,233
Equity transfer ( 109,241) - ( 109,241) ( 8,462)
Retained earnings (deficit) - ending $45,521,124 ($ 793,628) $44,727,496 $42,928,478
The accompanying Notes are an integral part of these financial statements.
7
EXHIBIT A-5
CITY OF WICBIT FALLS, TEXAS
COI BIE= mang=OF CASH FLOWS -
ALL PROPRIETARY FOND TYPES
FOR TEE YEAR ENDED SEDPISUNNOB 30, 1991
MITE COMPARATIVE TOTALS FOR TEE YEAR END® SK 30, 1990
Proprietary Fund Types Totals
Internal (Memorandum Only)
Enterprise Service 1991 1990
Cash flows from operating activities:
Operating income (loss) $ 1,856,235 ($ 230,498) $ 1,625,737 $ 2,011,675
Adjustments to reconcile operating income (loss) to net
cash provided by (used in) operating activities:
Depreciation and amortization 1,976,233 1,905,329 3,881,562 3,746,096
(Increase) decrease in current assets:
Receivables:
Customer and trade 307,652 - 307,652 ( 117,957)
Government agencies 145,971 - 145,971 ( 182,846)
Other 134,038 - 134,038 ( 86,954)
Inventory
Prepaid items ( 19,596) ( 8,910) ( 28,506) ( 78,988)
( 24,002) ( 6,646)- ( 7,088,660) ( 1,427,474)
( 30,648) ( 2,165)
Restricted assets ( 7,088,660)
Increase (decrease) in current liabilities:
Accounts payable - trade ( 338,919) ( 21,800) ( 360,719) 174,425
Accrued payroll 25,539 ( 4,538) 21,001 6,030
Payable to other City funds ( 152,420) -
Payable to government agencies ( 152,420) 187,994
( 27,219) - ( 27,219) 27,097
Other liabilities 35,007 4,100 39,107 ( 23,585)
Other liabilities payable from
restricted assets 1.081,649 - 1,081,649 722,409
Total adjustments ( 3,944,727) 1,867,535 ( 2,077,192) 2,944,082
Net cash provided by (used in)
operating activities ( 2,088,492) 1,637,037 ( 451,455) 4,955,757
Cash flows from noncapital financing activities:
Customer deposits received 51,911
Operating grants received 51,911 45,191
387,276 - 387,276 182,846
Operating transfers in from other funds 161,210 - 161,210 213,515
Operating transfers out to other funds
( 653,650) ( 312,434) ( 966,084) ( 950,541)
Net cash used for noncapital
financing activities ( 53,253) ( 312,434)
( 365,687) ( 508,989)
Cash flows from capital and related financing
activities:
Proceeds from sale of revenue bonds 21,122,066 - 21,122,066 2,631,401
Acquisition and construction of
capital assets ( 17,019,734) ( 1,643,816) ( 18,663,550) ( 6,271,399)
Purchase of water rate study - - - ( 19,457)
Litigation proceeds - -
Principal paid on revenue bond maturities 51,980
and construction contracts ( 742,502) - ( 742,502) ( 696,951)
Interest paid on revenue bonds and
construction contracts ( 582,568) - ( 582,568) ( 584,477)
Proceeds from sale of equipment - 153,537 153,537 170,756
Contributed capital 49,594 - 49,594 268,676
Net cash provided by (used for) capital
and related financing activities 2,826,856 ( 1,490,279) 1,336,577 ( 4,449,471)
Cash flows from investing activities:
Purchase of investment securities - - - ( 2,381,033)
Proceeds from sale and maturities of
investment securities 2,452,733 - 2,452,733 6,191,104
Interest and dividends on investments 1,167,993 - 1,167,993 1.263.719
Net cash provided by
investing activities 3.620,726 - 3,620,726 5,073.790
Net increase (decrease) in cash and cash equivalents 4,305,837 ( 165,676) 4,140,161 5,071,087
Cash and cash equivalents at beginning of year 14,363,361 586,563 14,949,924 9,878,837
Cash and cash equivalents at end of year $18,669,198 S 420,887 $19,090,085 $14,949,924
Supplemental disclosure of cash flow information:
Capital assets contributed to other City funds $ 109,241 $ - $ 109,241 $ -
Capital assets received from other City funds - 109,241 109,241 -
Capital assets received from federal government 7,593 - 7,593 55,566
Capital assets received from developers 42,001 - 42,001 213,110
The accompanying Notes are an integral part of these financial statements.
8
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1991
Note 1 - DEFINING THE REPORTING ENTITY
In accordance with National Council on Governmental Accounting (NCGA)
Statement 3, which addresses the issue of defining the reporting entity
with respect to other agencies, institutions, commissions, public
authorities, or other government organizations for inclusion in the
reporting entity's general purpose financial statements, City of Wichita
Falls, Texas (city) management identified four organizations which were
evaluated for inclusion using the following criteria:
1. Exercise of oversight responsibility over such agencies by the City's
elected officials:
a. Financial interdependency
b. Selection of governing authority
c. Designation of management
d. Ability to significantly influence operations and accountability
for fiscal matters.
2. Scope of public service:
a. Whether the activity is for the benefit of the reporting entity
and/or its residents
b. Whether the activity is conducted within the geographic boundaries
of the reporting entity and is generally available to the citizens
of that entity.
The four organizations evaluated were not involved in any joint ventures
with the City as defined by NCGA Statement 7.
The organizations identified and evaluated for inclusion in the City's
financial statements were:
Employee Benefit Trust Fund
Based on the above criteria, the financial statements of the Employee
Benefit Trust Fund are included in the City's accompanying financial
statements as an expendable trust fund. On October 1, 1983, an
"Agreement and Declaration of Trust" was made and entered into between
the City and the Employee Benefit Trust Committee, acting as Trustee
to administer the Employee Benefit Trust. The Employee Benefit Trust
Committee consists of four Trustees selected by the City, who may, but
need not be, beneficiaries of the health and welfare program funded by
the Trust, and/or officers or employees of the City. The purpose of
the Employee Benefit Trust Fund is to provide health and welfare
benefits, which may include life, accidental death and dismemberment,
disability, medical and dental insurance, and any other benefits as
determined by the Trustee Committee. The Trust is funded through
contributions by the City and employees who choose to participate. It
may be terminated in writing, at any time, by either party.
9
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D. )
SEPTEMBER 30, 1991
Note 1 - DEFINING THE REPORTING ENTITY (CONT'D. )
Firemen's Relief and Retirement Fund
The activities of the Firemen's Relief and Retirement Fund, in the
City's professional judgment, are not a part of the City and thus are
excluded from the accompanying financial statements. The Wichita Falls
Firemen's Relief and Retirement Fund is established and controlled
through various State of Texas legislative enactments. This Fund is
administered locally by a seven member board, independent of the City
Council. City management and the City Council do not influence or
control the administrative and financial affairs of the Fund, and the
assets of the Fund are not the property of the city. The seven member
Board of Trustees, composed of the Mayor and Director of Finance, three
firefighters elected by a majority vote of the firefighters and two
citizens, who are not employees or officers of the City and are chosen
by the unanimous vote of the first five Trustees, are subject to the
administrative supervision of and report to the State Firemen's Pension
Board.
Other Organizations
Other organizations not meeting the criteria used by the City for
inclusion in the City's financial statements include the following:
Housing Authority of the City of Wichita Falls
Wichita County/City Hospital Board
These organizations represent separate non-profit governmental units
and are not controlled by or dependent upon the City. They also did
not meet the criteria of financial interdependency, which is the most
significant manifestation of oversight and includes responsibility for
financing deficits, entitlements to surpluses, and guarantees of or
"moral responsibility" for debt.
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting and reporting policies of the City conform to generally
accepted accounting principles (GAAP) applicable to state and local
governments. Generally accepted accounting principles for local
governments include those principles prescribed by the Governmental
Accounting Standards Board (GASB) , which includes all statements and
interpretations of the National Council on Governmental Accounting (NCGA)
unless modified by the GASB, and those principles prescribed by the
American Institute of Certified Public Accountants in the publication
entitled Audits of State and Local Governmental Units. The following is
a summary of the more significant policies and practices used by the City.
10
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Basis of Presentation
The accounts of the City are organized and operated on the basis of funds
or account groups, each of which is considered to be a separate fiscal and
accounting entity. The operations of each fund are accounted for with a
self-balancing set of accounts that comprise its assets, liabilities, fund
balances or retained earnings, revenues, and expenditures or expenses.
The various funds are grouped by category and type in the financial
statements. The City maintains the following fund classifications and
account groups:
Governmental Funds
Governmental funds are used to account for the relatively liquid
portion of the City's assets that are not accounted for through
proprietary or fiduciary funds, the short-term obligations pertaining
thereto, and the net balance of these financial resources available for
subsequent appropriation and expenditure.
General Fund - The General Fund is the general operating fund of the
City. This fund is used to account for all financial resources
except those required to be accounted for in another fund.
special Revenue Funds - Special revenue funds are used to account
for the proceeds of specific revenue sources (other than expendable
trusts or major capital projects) that are legally restricted to
expenditures for specified purposes.
Debt Service Fund - The Debt Service Fund is used to account for the
accumulation of resources for, and the payment of, general long-term
debt principal, interest and related costs.
Capital Proiects Funds - Capital projects funds are used to account
for financial resources to be used for the acquisition or
construction of major capital facilities (other than those financed
by proprietary funds) .
Proprietary Funds
Proprietary funds are those used to account for the City's ongoing
organizations and activities which are similar to those found in the
private sector. The measurement focus is upon capital maintenance and
the determination of net income, financial position and cash flows.
11
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Proprietary Funds (Cont'd. )
Enterprise Funds - Enterprise funds are used to account for
operations (a) that are financed and operated in a manner similar
to private business enterprises where the intent of the governing
body is that the costs (expenses including depreciation) of
providing goods or services to the general public on a continuing
basis be financed or recovered primarily through user charges, or
(b) where the governing body has decided that periodic determination
of revenues earned, expenses incurred, or net income is appropriate
for capital maintenance, public policy, management control,
accountability or other purposes.
Internal Service Fund - The Internal Service Fund is used to account
for the financing of goods or services provided by one department
or agency to other departments or agencies of the City, or to other
governmental units, on a cost reimbursement basis.
Fiduciary Funds
Fiduciary funds are used to account for assets held by the City in a
trustee capacity or as an agent for other governmental units and/or
other funds. Trust and agency funds include expendable trust and
payroll, tax collection and accounts payable agency funds.
Expendable Trust Funds - These funds are accounted for in the same
manner as governmental funds.
Agency Funds - These funds are purely custodial (assets equal
liabilities) and thus do not involve measurement of results of
operations.
Account Groups
Account groups are used to establish accounting control and
accountability for the City's general fixed assets and general long-
term liabilities. The following are the account groups maintained by
the City:
General Fixed Assets Group - This account group is established to
account for all fixed assets of the City other than those accounted
for in the proprietary funds.
General Long-Term Debt Group - This account group is established to
account for long-term liabilities of the City other than those
accounted for in the proprietary funds.
12
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Basis of Accounting
Basis of accounting refers to the time at which revenues and expenditures
or expenses are recognized in the accounts and reported in the financial
statements.
Governmental funds, expendable trust funds, and agency funds are accounted
for using the modified accrual basis of accounting. Under the modified
accrual basis of accounting, revenues are recognized when they become
measurable and available as net current assets. Available means
collectible within the current period or expected to be collected within
60 days after year end and be used to pay liabilities of the current
period. Expenditures are generally recognized under the modified accrual
basis of accounting when the related fund liability is incurred.
Exceptions to this general rule include unmatured principal and interest
on long-term obligations which are recognized when due. This exception
is in conformity with generally accepted accounting principles.
Property tax revenues and sales tax receipts are considered measurable and
available when collected by the respective intermediary collecting agency
and recognized as revenue at that time. Licenses and permits, fines and
forfeits, and miscellaneous revenues are recorded as revenues when they
are measurable and their validity seems certain. Investment earnings are
recorded on the accrual basis in all funds.
Capital improvement assessments are recorded as revenues in the fiscal
period when the assessment becomes both measurable and available to
finance expenditures of the fiscal period. Assessment revenues are
considered measurable and available when collected by the City and
recognized as revenue at that time. Payments for capital improvement
assessments received in advance of the levy are reflected as deferred
revenue.
Intergovernmental revenues are recorded on a basis applicable to the legal
and contractual requirements of the various individual grant programs.
Intergovernmental revenues are recognized as follows:
1. If monies must be expended on the specific purpose or project
before any amounts will be paid to the City, revenues are
recognized based upon the expenditures or expenses recorded.
2. If monies are virtually unrestricted and irrevocable, except for
failure to comply with prescribed compliance requirements, revenues
are recognized when received or susceptible to accrual.
Proprietary funds are accounted for using the accrual basis of accounting.
Under the accrual basis of accounting, revenues are recognized in the
13
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Basis of Accounting (Cont'd. )
accounting period in which they are earned and become measurable.
Expenses are recorded in the accounting period incurred, if measurable.
Budget Policies
The City Council adheres to the following procedures in establishing the
budgets reflected in the financial statements:
1. Prior to the beginning of each fiscal year, the City Manager
submits to the City Council a proposed budget for all City
departments, divisions and offices for the fiscal year beginning
on the following October 1. The operating budget which represents
the financial plan for the ensuing fiscal year includes proposed
expenditures and the means of financing them.
2. Public hearings are conducted at which all interested persons'
comments concerning the budget are heard.
3. The budget for the next fiscal year is legally enacted by the City
Council through passage of an ordinance by October 1 each year.
Additional appropriations were made during the year in the amount
of $1,664,546 which were passed and approved by the City Council.
4. Expenditures may not legally exceed appropriations at the
department level for each legally adopted annual operating budget.
The City Manager may, without Council approval, transfer
appropriation balances from one expenditure account to another
within a department or agency of the City. The City Council,
however, must approve any transfer of unencumbered appropriation
balances or portions thereof from one department or agency to
another. The reported budgetary data has been revised for
amendments legally authorized during the year.
5. Annual budgets are legally adopted for all governmental funds on
a basis consistent with generally accepted accounting principles.
However, the budgets for the capital projects funds are adopted for
specific projects, are not binding, and may exceed one year.
Accordingly, no comparison of budget to actual is presented in the
financial statements for these funds.
6. At the close of each fiscal year, any unencumbered appropriation
balances (appropriations including prior year encumbrances less
current year expenditures and encumbrances) lapse or revert to the
undesignated fund balance. The unencumbered appropriation balances
in the capital projects funds do not lapse at year end.
14
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other
commitments for the expenditure of monies are recorded in order to reserve
that portion of the applicable appropriation, is employed as an extension
of formal budgetary control in the general, special revenue, and capital
projects funds. Encumbrances outstanding at year end are reported as
reservations of fund balance for subsequent year expenditures and are
reappropriated in subsequent year budgetary accounts.
Cash and Cash Eauivalents
For purposes of the statement of cash flows, the City considers all highly
liquid investments (including restricted assets) with a maturity of three
months or less when purchased to be cash equivalents.
Investments
Investments are stated at cost, except for Deferred Compensation Fund
investments which are reported at market value.
Inventory
Inventories of the general and proprietary funds consist of supplies and
various materials used for the maintenance of fixed assets. The
consumption method is used to account for these inventories. Under this
method, inventory acquisitions are recorded in inventory accounts
initially and charged as expenditures when used. Inventories are stated
at average cost.
Plant and Eauipment - Proprietary Funds
Plant and equipment owned by the proprietary funds are stated at
historical cost. Maintenance and repairs are charged to operations as
incurred, and improvements and betterments which extend the useful lives
of fixed assets are capitalized. Depreciation of plant and equipment is
provided by the straight-line method over the estimated useful lives of
the respective assets. Estimated useful lives for straight-line
depreciation are as follows:
Buildings, systems and improvements 20 - 59 years
Machinery, vehicles and other equipment 3 - 25 years
Furniture and equipment 3 - 10 years
When fixed assets of proprietary funds are sold, the sales proceeds less
the adjusted basis of the assets (initial cost less accumulated
depreciation) are recorded as a gain or loss.
15
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D. )
SEPTEMBER 30, 1991
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Plant and Equipment - Proprietary Funds (Cont'd. )
For proprietary fund fixed assets, interest is capitalized on construction
costs incurred during the year at an average interest rate on borrowed
funds (revenue bonds) in accordance with generally accepted accounting
principles.
No interest is capitalized on fixed assets constructed by proprietary
funds which are financed with general obligation bonds, because such
interest expenditures are reported in the Debt Service Fund.
For the fiscal year ending September 30, 1991, the City's proprietary
funds incurred a total of $1,766,352 of revenue bond interest costs. Of
this amount, $1,219,690 was capitalized on construction projects and
$546,662 was charged to expense.
Contributions of funds from Federal, State, or local grants restricted for
the purpose of purchasing plant and equipment are recorded as equity
contributions when received. The cost of water and sewer lines installed
by developers is valued by the contractor and recorded as contributed
capital in the Water and Sewer Fund. Depreciation on contributed assets
from Federal and State governments is recorded as an expense in the
statement of operations.
General Fixed Assets
General fixed assets are those assets acquired for general governmental
purposes. Assets purchased are recorded as expenditures in the
governmental funds and capitalized at historical cost in the General Fixed
Assets Account Group. Contributed fixed assets are recorded in general
fixed assets at estimated fair market value at the time received.
No depreciation has been provided on general fixed assets. No interest
is capitalized on fixed assets constructed which are financed with general
obligation bonds in accordance with generally accepted accounting
principles.
Public domain general fixed assets (infrastructure) consisting of certain
improvements other than buildings, including roads, bridges, curbs and
gutters, streets and sidewalks, and similar assets have not been
capitalized.
Federal and State Grants
Grants and shared revenues are generally accounted for within the
appropriate fund of the City to be financed by such grants or shared
revenues. Federal grants include Community Development Block Grant,
Section 8 Housing Assistance, and the Rental Rehabilitation Program.
16
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Federal and State Grants (Cont'd. )
Each Federal grant is accounted for in a separate special revenue fund.
state grant revenues received for purposes normally financed through the
general government are accounted for within the General Fund.
Reserves and Desianations
Portions of fund equity are segregated for future use, and are therefore
not available for future appropriation or expenditure. Amounts reserved
for revenue bond debt service and retirement represent portions of fund
equity which are required to be segregated in accordance with the City's
bond ordinances. Amounts reserved for inventory and prepaid items have
already been expended and represent a portion of the fund balance that is
not available for future expenditures. Amounts reserved for encumbrances
are commitments for materials and services on purchase orders and
contracts which are unperformed.
Designations of unreserved fund balances in governmental funds indicate
City management's tentative plans for use of financial resources in a
future period.
Transactions Between Funds
Transactions between funds that would be treated as revenues,
expenditures, or expenses if they involved organizations external to the
governmental unit are accounted for as revenues, expenditures, or expenses
in the funds involved. Transactions which constitute reimbursements to
a fund for expenditures or expenses initially made from that fund which
were properly applicable to another fund are recorded as expenditures or
expenses in the fund that is reimbursed.
Non-recurring or non-routine transfers of equity between funds are treated
as residual equity transfers and are reported as additions to or
deductions from the fund balance of governmental funds. Residual equity
transfers to proprietary funds are treated as contributed capital, and
such transfers from proprietary funds are reported as reductions of
retained earnings or contributed capital as appropriate in the
circumstances. All other transfers are treated as operating transfers and
are included in the results of operations of both governmental and
proprietary funds.
Vacation and sick Leave
All full-time employees accumulate vacation benefits based on length of
service up to 15 days per year. The maximum allowable accumulation is 30
days.
17
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Vacation and Sick Leave ICont'd. )
sick leave is earned at the rate of 4.62 hours per pay period up to a
maximum of ninety days. Upon leaving the employment of the City,
employees will be paid for unused vacation days which they have accrued.
Additionally, police officers and firefighters may accumulate an unlimited
number of sick leave days while employed with the City. Upon termination,
police officers and firefighters are compensated for up to ninety days of
sick leave.
Insurance
The City maintains a group health insurance plan for employees and
dependents which is self-insured by the City. A group life insurance plan
is maintained through an insurance company. Contributions to the plans
are provided for by both the City and participating employees. These
contributions are recognized as revenues in the expendable trust fund used
to account for these plans. The contributions made by the City are
recorded as expenditures or expenses of the various funds as appropriate.
Comparative Data
Comparative data for the prior year has been presented in the accompanying
financial statements in order to provide an understanding of changes in
the City's financial position and operations. However, complete
comparative data (i.e., presentation of prior year totals by fund type)
has not been presented in each of the statements, since their inclusion
would make the statements unduly complex and difficult to read.
Reclassifications
Certain comparative data has been reclassified to present such amounts in
a manner consistent with the current year's financial statements.
Total Columns on Combined Financial Statements
Total columns on the combined financial statements are captioned
"Memorandum Only" to indicate that they are presented only to facilitate
financial analysis. Data in these columns does not present financial
position, results of operations, or changes in financial position in
conformity with generally accepted accounting principles. Such data is
not comparable to a consolidation. Interfund eliminations have not been
made in arriving at the totals.
18
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 3 - FUND DEFICITS
Enterprise Funds
At September 30, 1991, the Airport Fund had a deficit retained earnings
balance of $282,692. The intent of management is that this deficit be
recovered by transfers from other funds during future years.
At September 30, 1991, the Transit Fund had a deficit retained earnings
balance of $189, 155. The intent of management is that this deficit also
be recovered by transfers from other funds during future years.
Internal service Fund
At September 30, 1991, the Internal Service Fund had a deficit retained
earnings balance of $793,628. In the opinion of management, this deficit
will be recovered in future years by maintaining the current rates charged
for services rendered to other departments.
Note 4 - DEPOSITS AND INVESTMENTS
Deposits
All of the City's demand and time depository accounts are held in local
banking institutions under the terms of written depository contracts. At
September 30, 1991, the total amount of the City's demand and time
deposits per the general ledgers was $9, 160,291, and the total amount per
the City's September 30, 1991 bank statements was $9,744,439. of the
year-end bank statement balances, $9,280,372 was covered by federal
depository insurance or by collateral held by the City's agent in the
City's name, resulting in $464,067 being uncollateralized.
Investments
The City's investment policies are governed by State statutes. The City
is authorized to invest in obligations of the United States or its
agencies, obligations of the State of Texas or its agencies, commercial
paper rated A or its equivalent by a nationally recognized investment
rating firm, and repurchase agreements.
The City's investments are categorized below to give an indication of the
level of risk assumed by the entity at year end. Category 1 includes
investments that are insured or registered, or for which the securities
are held by the City or its agent in the City's name. Category 2 includes
uninsured and unregistered investments for which the securities are held
by the counterparty's trust department or agent in the City's name.
Category 3 includes uninsured and unregistered investments for which the
securities are held by the counterparty's safekeeping department, but not
in the City's name.
19
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 4 - DEPOSITS AND INVESTMENTS (CONT'D. )
Investments (Cont'd. )
Category Carrying Market
Description 1 2 3 Amount Value
Public Funds
Investment Pool $32,459,155 $ - $ - $32,459,155 $32,997,977
Repurchase
Agreements 95,000 - - 95,000 95,493
U.S. Government
Securities 108,300 - - 108,300 108,300
Subtotal 32,662,455 - - 32,662,455 33,201,770
Assets of Deferred
Compensation Fund N/A N/A N/A 1,333,591 1,333,591
Total $32,662,455 $ - $ - $33,996,046 $34,535,361
Note 5 - 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, 1991 was
$.6479 per $100 which means that the City has a tax margin of $1.6021 per $100,
and could raise up to $36,116,712 additional tax revenue a year from the present
assessed valuation of $2,254,335,700 before the limit is reached.
The City serves as agent in assessing and collecting ad valorem taxes for the
Wichita Falls Independent school District. It also served the Wichita Falls
college District in a similar capacity during its existence and currently serves
as collector and as custodian of delinquent tax records for successors to the
former District.
Taxes levied and uncollected for the School and College District totaled
$2,416,852 and $2,756,664 at September 30, 1991 and 1990, respectively, and are
reflected in the Tax Collection Fund in the agency fund group.
20
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 6 - RESTRICTED ASSETS - WATER AND SEWER FUND
Restricted assets in the Water and Sewer Fund, held for specific purposes in
accordance with bond ordinances or other legal restrictions, are comprised of the
following:
For Debt Service:
Cash and cash equivalents $ 2,906 127
Investments 108,300
For capital Improvements:
Cash and cash equivalents 4,314,867
Receivables 8,613,888
For Customer Deposits:
Cash and cash equivalents 1,132,321
Total $17,075,503
Note 7 - PLANT, EQUIPMENT AND DEPRECIATION
A summary of plant and equipment at September 30, 1991 is as follows:
Internal General
Enterprise Service Fixed
Funds Fund Assets Total
Land and betterments $ 24,598,680 $ 433,658 $14,574, 116 $ 39,606,454
Buildings and
improvements 75,109,378 4,008,948 14,394,524 93,512,850
Machinery and
equipment 2,804,925 - 4,710,692 7,515,617
Furniture and
fixtures 44,862 5,974 421,708 472,544
Motor vehicles and
equipment 3,670 17,021,284 56,861 17,081,815
Total plant and
equipment in service 102,561,515 21,469,864 34, 157,901 158, 189,280
Less accumulated
depreciation ( 36,516,032) ( 10,343,212) - ( 46,859,244)
Net plant and
equipment in service 66,045,483 11, 126,652 34,157,901 111,330,036
Construction in
progress 22,289,470 87,414 - 22,376,884
Total $ 88,334,953 $11,214,066 $34,157,901 $133,706,920
21
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D. )
SEPTEMBER 30, 1991
Note 7 - PLANT, EQUIPMENT AND DEPRECIATION (CONT'D. )
A summary of changes in general fixed assets for the year ended September 30, 1991
is as follows:
Balance Transfers Balance
September 30, and September 30,
1990 Additions Retirements 1991
Land and betterments $14,473,953 $100, 163 $ - $14,574, 116
Buildings and
improvements 14, 117,353 277, 171 - 14,394,524
Machinery and equipment 4,508,340 205,211 2,859 4,710,692
Furniture and fixtures 429,794 10,455 18,541 421,708
Motor vehicles and
equipment 56,861 - - 56,861
Total $33,586,301 $593,000 $ 21,400 $34, 157,901
Note 8 - RETIREMENT PLANS
Texas Municipal Retirement System
Plan Description
The City provides pension benefits for substantially all of its full-time
employees, except firemen, through a nontraditional, joint contributory,
defined contribution plan in the state-wide Texas Municipal Retirement System
(TMRS) . The City's plan is one of over 500 administered by TMRS, an agent
multiple-employer public employee retirement system. The plans in TMRS are
substantially defined contribution plans, but have many of the characteristics
of defined benefit plans. Therefore, additional voluntary disclosures are
provided to help foster a better understanding of the nontraditional
characteristics of the plan.
Benefits depend upon the sum of the employee's contributions to the plan, with
interest, and the city-financed monetary credits, with interest. At the date
the plan began, the city granted monetary credits for service rendered before
the plan began of a theoretical amount equal to two times what would have been
contributed by the employee, with interest, prior to establishment of the plan.
Monetary credits for service since the plan began are 200% of the employee's
accumulated contributions. At retirement, the benefit is calculated as if the
sum of the employee's accumulated contributions with interest and the employer-
financed monetary credits with interest were used to purchase an annuity.
22
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 8 - RETIREMENT PLANS (CONT'D. )
Texas Municipal Retirement System (Cont'd. )
Plan Description (Cont'd. )
Members can retire at ages 60 and above with 15 or more years of
service, at ages 50-59 with 25 or more years of service, or with 28
years of service regardless of age. The plan also provides death and
disability benefits. A member is vested after 20 years, but must leave
his accumulated contributions in the plan. If a member prematurely
withdraws his own money, he is not entitled to the employer-financed
monetary credits even if vested. The plan provisions are adopted by
the City within the options and actuarial constraints detailed in the
state statutes governing TMRS.
Funding Status and Progress
Even though the substance of the City's plan is not to provide a
defined benefit in some form, some additional voluntary disclosure is
appropriate due to the nontraditional nature of the City's defined
contribution plan which had an initial unfunded pension benefit
obligation upon the plan's inception. The pension benefit obligation
shown on page 27 is similar in nature to the standardized disclosure
measure required by Governmental Accounting Standards Board (GASB)
Statement 5 for defined benefit plans, except that there is no need to
project salary increases since the benefit credits earned for service
to date are not dependent upon future salaries. This measure is the
actuarial present value of credited projected benefits and is intended
to help users assess the public employee retirement system's funding
status on a going concern basis, assess progress being made in
accumulating sufficient assets to pay benefits when due, and allow for
comparisons among public employee retirement plans. The calculations
were made as part of the annual actuarial valuation as of December 31,
1990 and, therefore, all plan disclosures have been presented on a
twelve month calendar year basis. Because of the money purchase nature
of the plan, the interest rate assumption, currently 8.5% per year,
does not have as much impact on the results as it does for a defined
benefit plan. The book value of assets is amortized cost for bonds and
original cost for short-term securities and stocks. The market value
of assets is not determined for each individual City's plan, but the
market value of assets for TMRS as a whole was 106.2% of book value as
of December 31, 1990.
Contributions Reauired and Contributions Made
The contribution rate for all employees, except policemen, is 5%.
Policemen contribute 7% to the plan. Under state laws governing TMRS,
the City's contribution rate is annually determined by an actuary.
Part of the City's contribution rate (the normal cost) is to fund the
23
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D. )
SEPTEMBER 30, 1991
Note 8 - RETIREMENT PLANS (CONT'D. )
Texas Municinal Retirement System (Cont'd. )
Contributions Required and Contributions Made (Cont'd. )
currently accruing monetary credits, with the other part (the prior
service contribution rate) calculated as the level percent of payroll
needed to amortize the unfunded actuarial liability over the remainder
of the plan's 25-year amortization period. When the City periodically
adopts updated service credits and increases the annuities in effect,
the increased unfunded actuarial liability is to be amortized over a
new 25-year period. currently, the unfunded actuarial liability is
being amortized over the 25-year period which began January, 1991. The
unit credit actuarial cost method is used for determining the City's
contribution rate. Contributions are made monthly by both the
employees and the City. since the City needs to know its contribution
rate in advance to budget for it, there is a one-year lag between the
actuarial valuation that is the basis for the rate and the calendar
year when the rate goes into effect.
The City's total payroll for the calendar year 1990 was $23,376,888,
and the City's contributions were based on a covered payroll of
$18,827,230. Both the City and the covered employees made the required
contributions for the calendar year 1990, amounting to $1,276,486
(6.78% of covered payroll, 5.12% normal cost plus 1.66% to amortize the
unfunded actuarial liability) by the City and $1,036,662 (5.51% of
covered payroll) by the employees. The City adopted changes in the
plan since the previous actuarial valuation, which had the effect of
increasing the City's contribution rate for calendar year 1991 by 0.01%
of payroll. There are no securities of the City or related parties
included in the plan's assets.
Trend Information
Trend information gives an indication of the progress made in
accumulating sufficient assets to pay benefits when due. Ten-year
trend information may be found on pages 40-41 of the City's
comprehensive annual financial report. For the three plan years ended
December 31, 1988, 1989, and 1990, respectively, available assets were
sufficient to fund 83.8, 83.8, and 84.6 percent of the pension benefit
obligation. Unfunded pension benefit obligation represented 27.5,
29.7, and 29.8 percent of the annual payroll for employees covered by
the plan for the three years ended December 31, 1988, 1989, and 1990,
respectively. Showing unfunded pension benefit obligation as a
percentage of annual covered payroll approximately adjusts for the
effects of inflation for analysis purposes. In addition, for the three
years ended December 31, 1988, 1989, and 1990, the City's contributions
to the plan, all made in accordance with actuarially determined
requirements, were 6.11, 6.09, and 6.78 percent, respectively, of
annual covered payroll.
24
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D. )
SEPTEMBER 30, 1991
Note 8 - RETIREMENT PLANS (CONT'D. )
Firemen's Relief and Retirement Fund
Plan Description
The City provides pension benefits for all of its firemen through a
contributory, defined benefit plan. The Firemen's Relief and
Retirement Fund (the Fund) operates under an act passed in 1937 by the
Texas State Legislature and adopted by the City's firemen.
Benefits are determined on a "formula" or a "final salary" plan. A
fireman who qualifies for a retirement benefit will receive monthly
retirement equal to 1.90% of his highest 24 month average salary
multiplied by his years of service.
Members can receive a service retirement at ages 55 and above with 20
or more years of service. Members are eligible for actuarially reduced
early retirement benefits beginning at age 50, provided the employee
has accrued at least 20 years of service. The plan also provides death
and disability benefits. Members who terminate their service and are
nonvested are entitled to the excess of the member's contributions over
any benefits previously received.
Funding Status and Progress
The amount shown on page 27 as the pension benefit obligation is a
standardized disclosure measure of the present value of pension
benefits, adjusted for the effects of projected salary increases,
estimated to be payable in the future as a result of employee service
to date. The measure is intended to help users assess the funding
status of the system on a going-concern basis, assess progress made in
accumulating sufficient assets to pay benefits when due, and make
comparisons among employers. The measure is the actuarial present
value of credited projected benefits, and is independent of the
actuarial funding method used to determine contributions to the system.
The pension benefit obligation was computed as part of an actuarial
update performed as of April 30, 1990. No actuarial update was
performed as of April 30, 1991, since Texas state law requires an
actuarial valuation to be completed only once every three years. The
most current information available is based on the actuarial update
performed as of April 30, 1990. Significant actuarial assumptions used
in the valuation update include (a) a rate of return on the investment
of present and future assets of 8% a year, (b) projected salary
increases of 6% per year compounded annually attributable to inflation,
(c) additional projected salary increases which average approximately
1% per year, attributable to merit, promotion, and longevity and (d)
no post-retirement benefit increases. The study concluded that the
Fund, based on the existing levels of benefits and contributions, had
an adequate financing arrangement. The market value of assets as of
December 31, 1990 was $10,981, 189.
25
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D. )
SEPTEMBER 30, 1991
Note 8 - RETIREMENT PLANS (CONT'D. )
Firemen's Relief and Retirement Fund icont'd. )
Contributions Required and Contributions Made
contribution requirements are not actuarially determined, however,
state law requires that each plan of benefits adopted by the Fund must
be approved by a qualified actuary. This valuation, using the entry
age actuarial cost method, determined that contributions at the rates
then in existence (9.0% for firemen and 9.0% by the City) would
amortize the unfunded liability, assuming annual payroll increases of
6%, in approximately 29 years from April 30, 1989, as well as pay
normal costs of present benefits.
Contributions are made to the Fund by the City at the rate of 9 .0% of
the firemen's gross pay. Firemen also contribute 9 .0% of their gross
pay to the Fund. For the plan year ended December 31, 1990, the total
and covered payroll was $3, 844,778, resulting in contributions of
$346,030 (9 .0% of covered payroll) by the City and $346,030 (9 .0% of
covered payroll) by the firemen. There are no securities of the City
or related parties included in the Fund's assets.
Trend Information
Trend information gives an indication of the progress made in
accumulating sufficient assets to pay benefits when due. Trend
information for all available years may be found on pages 42-43 of the
City' s comprehensive annual financial report. Civil Statutes of the
State of Texas currently permit the Board of Trustees to employ an
actuary no more than once every two years and pay his compensation out
of the Fund. The most recent actuarial valuation was as of April 30,
1989 . An actuarial update to this valuation was performed as of April
30, 1990. For the three years ended April 30, 1988, 1989 and 1990,
respectively, which is the latest obtainable information, available
assets were sufficient to fund 77 .6%, 79.4% and 78.9% of the pension
benefit obligation. Unfunded pension benefit obligation represented
68.4%, 61. 1% and 65.9% of the annual payroll for employees covered by
the Fund for the years ended April 30, 1988, 1989 and 1990. Showing
unfunded pension benefit obligation as a percentage of annual covered
payroll approximately adjusts for the effects of inflation for analysis
purposes. In addition, for the three plan years ended December 31,
1988, 1989 and 1990, the City's contributions to the Fund, all made in
accordance with actuarially determined requirements, were 9.0%, 9.0%
and 9.0%, respectively, of annual covered payroll.
26
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 8 - RETIREMENT PLANS (CONT'D. )
Actuarial Present Value of Benefits
Total unfunded pension benefit obligation applicable to the City's employees as
of the most current actuarial valuation date is as follows:
Texas
Municipal Firemen's Total
Retirement Relief and (Memorandum
System Retirement Only)
Date of last valuation or December 31, April 30,
valuation update 1990 1990
Pension benefit obligation:
Retirees and beneficiaries
receiving benefits and terminated
employees not yet receiving
benefits $ 3,204,981 $ 5,444,369 $ 8,649,350
Current employees:
Accumulated employee
contributions including
allocated invested earnings 13,050,527 2,529,128 15,579,655
Employer-financed vested 11,271,648 2,935,725 14,207,373
Employer-financed nonvested 8,811,253 861,138 9,672,391
Total pension benefit obligation 36,338,409 11,770,360 48,108,769
Net assets available for
benefits, at book value 30,732,508 9,281,696 40,014,204
Unfunded pension benefit
obligation $ 5,605,901 $ 2,488,664 $ 8,094,565
Note 9 - 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.
All amounts of compensation deferred under the plan, all investments purchased,
and all income attributable to these investments are (until paid or made
available to the employee or other beneficiary) solely the property of the City
subject only to the claims of the City's general creditors. Participants'
rights under the plan are equal to those of general creditors of the City in an
amount equal to the fair market value of their deferred account.
27
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 9 - DEFERRED COMPENSATION PLAN (CONT'D. )
It is the opinion of City management that the City has no liability for
losses under the plan, but does have the duty of due care that would be
required of an ordinary prudent investor. It is also the opinion of City
management that it is unlikely that it will use the assets to satisfy the
claims of general creditors in the future.
Note 10 - PAYABLE TO U.S. GOVERNMENT
The City of Wichita Falls and Wichita County Water Improvement District
No. 2, upon the completion of the Lake Kemp reconstruction project in
January, 1976 by the U.S. Government, are required to reimburse the U.S.
Government 22.7% of its reported total cost of $8,774,705, or $1,991,858.
The City's share of this amount is 66.11%, or $1,316,817, payable in
forty-nine annual installments through January, 2004 of $51,974, which
includes interest at the rate of 3.253%.
The City's share of the total costs ($5,800,957) is reflected in fixed
assets, and the City's share of the U.S. Government funded portion
($4,484, 140) is reflected as contributed capital in the Water and Sewer
Enterprise Fund.
This contractual arrangement is strictly a cost-sharing agreement and is
not considered a joint venture as defined by NCGA Statement 7.
The remaining debt payable to the U.S. Government is classified as
follows:
September 30,
1991 1990
Long-term $1,042, 169 $1,059,672
Current portion in other
liabilities 17,503 16,951
Total $1,059,672 $1,076,623
Note 11 - AIRPORT LEASE
The airport facilities are located on land at Sheppard Air Force Base.
The land is leased from the Department of the Air Force at a cost of $1.00
per year for a period of fifty years, beginning May 15, 1959 and expiring
May 14, 2009 . Additional rent is based on landing fees at a rate of
$1.8264 per scheduled landing. Landing fees collected and paid on this
lease were $11,055 and $9,921 for the fiscal years ended September 30,
1991 and 1990, respectively.
28
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 12 - DESCRIPTION OF LEASING ARRANGEMENTS
The City has entered into a land lease expiring in 1991 and three copier
leases expiring in 1994 which are classified as capital leases and are
included in the General Fixed Asset and the General Long-Term Debt account
groups.
The majority of the operating leases contain the option for annual renewal
at the end of the initial lease term. In most cases, leases will be
canceled or replaced by other leases. The City leases certain equipment
and data processing software under operating leases expiring at varying
times through 1994.
Capital Leases
The following is an analysis of the leased property under capital leases
by major classes:
Asset Balances at
September 30,
Classes of Property 1991 1990
Land $ 50,000 $ 50,000
Equipment 77,240 77,240
Total $127,240 $127,240
The following is a schedule by years of future minimum lease payments
under capital leases and the corresponding present value of the net
minimum lease payments as of September 30, 1991:
Year ending September 30:
1992 $ 16,371
1993 16,371
1994 14,917
1995 -
1996 -
Total minimum lease payments 47,659
Less: Amount representing interest 1,168
Present value of minimum lease
payments (1) $ 46,491
29 I
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 12 - DESCRIPTION OF LEASING ARRANGEMENTS (CONT'D. )
Operating Leases
The following is a schedule by years of future minimum rental payments
required under operating leases that have initial or remaining
noncancellable lease terms in excess of one year as of September 30, 1991:
Year ending September 30:
1992 $ 11,363
1993 6, 100
1994 6, 100
1995 1
1996 1
Later years 12
Total minimum payments required (2) $ 23,577
The following schedule shows the composition of total rental expenses for
all operating leases:
Year Ending
September 30,
1991 1990
Minimum rentals $137,030 $132,582
Contingent rentals 11,055 9,921
Total rentals $148,085 $142,503
(1) Reflected in the general long-term debt account group as capital
leases payable.
(2) Minimum payments do not include contingent rentals which may be paid
under the airport lease based on the number of scheduled landings.
Note 13 - LONG-TERM DEBT
The following is a summary of changes in long-term obligations of the City
for the year ended September 30, 1991:
30
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 13 - LONG-TERM DEBT (CONT'D. )
Obligations Obligations
Outstanding New Obligations Outstanding
October 1, Obligations Retired September 30,
1990 Incurred or Refunded 1991
General Lona-Term Debt:
General Obligation
Bonds payable $20,325,000 $ - $ 710,000 $19,615,000
Accrued vacation and
sick leave (Note 18) 3,246,745 - 2,978 3,243,767
Capital leases payable
(Note 12) 66,626 - 20, 135 46,491
Claims and judgments
payable (Note 18) 87,836 - 9,828 78,008
Total general
long-term
debt 23,726,207 - 742,941 22,983,266
Proprietary Fund Debt:
Revenue Bonds payable 24,826,401 21, 122,066 680,000 45,268,467
Payable to U.S.
Government (Note 10) 1,076,623 - 16,951 1,059,672
Total proprietary
fund debt 25,903,024 21,122,066 696,951 46,328, 139
Total long-term
liabilities S49,629,231 $21,122,066 $1,439,892 $69,311,405
Bonds payable at September 30, 1991 are comprised of the following individual
issues:
31
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 13 - LONG-TERM DEBT (CONT'D. )
Range of Final Annual Bonds
Interest Maturity Serial Bonds Outstanding
Rates Date Payments Authorized at 9/30/91
General Obligation Bonds:
1986 General Obligation
Refunding Bonds 5.00% - 9/01/06 $305,000 to $22,540,000 $19,615,000
8.15% 2, 115,000
Revenue Bonds:
Water and Sewer
Revenue Bonds:
1986 Water and
sewer system
Refunding
Revenue Bonds 5.00% - 8/01/07 395,000 to 24,405,000 21,515,000
8.30% 2,265,000
1990-A, 1990-B and
1990-C Water and
Sewer Subordinate
Lien Revenue Bonds 5.50% - 8/01/12 300,000 to 26.210,000 23,753,467
7.72% 3,665,000
Total All Bonds $73, 155,000 $64,883.467
The 1986 General obligation Bonds were issued on the full faith and credit of the
City and are secured by ad valorem taxes levied against all taxable property.
These bonds are serviced by the Debt Service Fund with an apportionment of the ad
valorem tax levy. At September 30, 1991, $562,296 was available in this fund to
service these bonds.
The 1986 and 1990 Water and Sewer Revenue Bonds were issued for purposes of
improving the City's water and sewer systems and are serviced by the net revenues
of the Water and Sewer Fund.
There are a number of limitations and restrictions contained in the various bond
indentures. The City is in compliance with all significant provisions for such
limitations and restrictions.
The City's current year payments for debt service of general obligation bonds and
revenue bonds included $3,467,717 of interest.
The annual requirements to pay principal and interest on the bond obligations
outstanding as of September 30, 1991 are as follows:
32
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D. )
SEPTEMBER 30, 1991
Note 13 - LONG-TERM DEBT (CONT'D. )
Year Ending General Obliaation Revenue
September 30: Principal Interest Principal Interest Total
1992 $ 755,000 $ 1,531,240 $ 725,000 $ 2,541,957 $ 5,553, 197
1993 805,000 1,482, 165 1,075,000 2,511,278 5, 873,443
1994 860,000 1,427,827 1, 150,000 2,438,978 5,876,805
1995 920, 000 1,367,627 1,230,000 2,359,863 5,877,490
1996 985,000 1,300,928 1,310,000 2,273,418 5, 869,346
1997-2001 6, 195,000 5,243,403 8, 170,000 9,787, 162 29,395,565
2002-2006 9,095,000 2,333, 123 11,710,000 6,235, 161 29,373,284
2007-2011 - - 16,455,000 1,576,745 18, 031,745
2012 - - 3,443,467 15,655 3,459, 122
Total $19,615,000 $14,686,313 $45,268,467 $29,740,217 $109,309,997
Note 14 - DEFEASANCE OF PRIOR DEBT
In prior years, the City defeased certain outstanding general obligation and
revenue bonds by placing the proceeds of new bonds and additional cash in an
irrevocable trust to provide for all future debt service payments on the old bonds.
Accordingly, the trust escrow accounts and the defeased bonds are not included in
the City's financial statements. At September 30, 1991, the following outstanding
bonds are considered defeased:
Amount
General Obligation Bonds:
1980 General Obligation Bonds $ 2,000,000
1981 General Obligation Bonds 2,550,000
1982 General Obligation Bonds 1,375,000
1985 General Obligation Refunding
and Improvement Bonds 16,520,000
Total Defeased General Obligation Bonds 22,445,000
Revenue Bonds:
1973 Water and Sewer Revenue Bonds 200,000
1978 Water and Sewer Revenue Bonds 420,000
1980 Water and Sewer Revenue Bonds 500,000
1982 Water and Sewer Revenue Bonds 410,000
1984 Water and Sewer Revenue Bonds 16,740,000
Total Defeased Revenue Bonds 18,270,000
Total Defeased Bonds $40,715,000 I
33
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 15 - INDIVIDUAL FUND DISCLOSURES
Interfund receivable and payable balances at September 30, 1991 are as follows:
Interfund Interfund
Receivables Pavables
General Fund $372,103 $ -
Special Revenue Funds:
Community Development Block
Grant Fund - 176,270
Enterprise Fund:
Transit Fund - 195,833
Trust and Agency Funds:
Social Security Fund - 7
Payroll Fund 7 -
Total $372,110 $372, 110
Operating transfers between funds during the year were as follows:
Operating Operating
Transfer In Transfer Out
General Fund $ 966,084 $ 161,210
Special Revenue Funds:
Civic/Community Promotion
Fund 152,893 -
Hotel/Motel Tax Fund - 152,893
Enterprise Funds:
Transit Fund 161,210 -
Sanitation Fund - 380,692
Water and Sewer Fund - 272,958
Internal Service Fund - 312,434
Total $1,280,187 $1,280, 187
34
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 16 - SEGMENT INFORMATION FOR ENTERPRISE FUNDS
The City maintains four enterprise funds which provide transportation, sanitation, water and sewer services.
Segment information for the year ended September 30, 1991 is as follows:
Total
Water Enterprise
Airport Transit Sanitation and Sewer Funds
Operating revenues $ 211,522 $ 127,411 $5, 198,904 $ 13, 157,271 $ 18,695, 108
Depreciation and amortization 89,829 14,583 59,080 1,812,741 1,976,233
Operating income (loss) ( 39,801) ( 451, 108) 326,048 2,021,096 1,856,235
Contributions from operating grants - 387,276 - - 387,276
w Operating transfers:
u' In - 161,210 - - 161,210
Out - - 380,692 272,958 653,650
Net income (loss) ( 17,431) 97,378 96,870 2, 159,679 2,336,496
Current capital:
Contributions - 7,593 - 42,001 49,594
Plant and equipment:
Additions - 119,555 - 16,900, 181 17,019,736
Transfers in (out) - ( 109,241) - - ( 109,241)
Net working capital 306,640 ( 26,295) 2,741,793 8,744,225 11,766,363
Total assets 2,052,435 861,503 5,456,954 110,344,588 118,715,480
Bonds and other long-term liabilities - - - 46,717,957 46,717,957
Total equity 1,994,693 637, 183 5,275,654 60,079,655 67,987, 185
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 17 - CONTRIBUTED CAPITAL - PROPRIETARY FUNDS
During the year ended September 30, 1991, contributed capital in the City's proprietary funds increased by
the following amounts:
Total
Water Internal Proprietary
Source Airport Transit Sanitation and Sewer Service Funds
Government - fixed assets $ - $ 7,593 $ - $ - $ 109,241 $ 116,834
Developers - fixed assets - - - 42,001 - 42,001
Total additions - 7,593 - 42,001 109,241 158,835
Contributed capital,
rn October 1, 1990 2,277,385 818,745 2,907,626 16,412,711 12,388,617 34,805,084
Contributed capital,
September 30, 1991 $2,277,385 $826,338 $2,907,626 $16,454,712 $12,497,858 $34,963,919
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 18 - COMMITMENTS AND CONTINGENCIES
Litigation
The City is a defendant in numerous lawsuits. The ultimate liability of
the City cannot be determined at this time, although City management
believes such liability will not materially affect the financial position
of the City.
Accrued Vacation and Sick Leave
The City's liability for accrued vacation and sick leave excluding the
amount recorded in the enterprise funds was $3,343,767 at September 30,
1991. This accrual is recorded in the General Long-Term Debt account
group, except for $100,000 which is believed by City management to be
currently payable from available resources and is recorded in the General
Fund.
Post-Retirement Health Care and Life Insurance Benefits
In addition to providing pension benefits, the City provides certain
health care and life insurance benefits for retired employees.
Substantially all of the City's employees may become eligible for those
benefits if they reach normal retirement age while working for the City.
The cost of retiree health care is paid for by the retirees. The cost of
life insurance benefits is funded jointly by the City and the retirees.
The City's portion of these costs is recognized as expense when paid. For
the fiscal year ended September 30, 1991, these costs totaled $5,649.
Workmen's Compensation Claims
The City is liable for workmen's compensation claims arising in various
General Fund departments of $78,008 as of September 30, 1991. This amount
is recorded as a liability in the General Long-Term Debt account group.
Contract Commitment With West Texas Utilities Company
In 1977, the City and Wichita County Water Improvement District Number 2
entered into a sixty-year contract with the West Texas Utilities Company
(Company) and agreed to provide an adequate water supply for the Company's
use in generating power upon completion of the Company's construction of
a power plant adjacent to the Lake Kemp-Lake Diversion System.
The significant terms of the contract provide for standby charges to be
paid to the City and the Wichita County Water Improvement District Number
2 in equal amounts. Minimum annual charges began on January 1, 1987, and
shall continue as follows:
37
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1991
Note 18 - COMMITMENTS AND CONTINGENCIES (CONT'D. )
Contract Commitment With West Texas Utilities Company (Cont'd. )
City's
Years Ending December 31: Annual Share
1991 $250,000
1992-1996 375,000
1997 and all years thereafter
until end of contract 500,000
For water actually consumed, the Company shall pay the City and Wichita
County Water Improvement District Number 2 equally, at the base rate of
twenty-three ($.23) cents per one thousand (1,000) gallons, which can be
adjusted annually.
This contract can be terminated at any time by the Company. If the
contract is terminated, the Company is required to make a maximum
termination payment equal to the minimum charges which would have become
due and payable during the following twenty-four month period.
Contract Commitment With Army Corps of Engineers
On June 13, 1987, the City entered into a construction contract with the
Army Corps of Engineers to provide flood protection to the City of Wichita
Falls and surrounding vicinity. This flood protection is to be attained
by increasing the flood control capabilities in the Holliday Creek area
and by modifying the existing Lake Wichita Dam. As of September 30, 1991,
the total project costs under this contract were estimated to be
$45,900,000. The City must provide a 5 percent cash contribution in
proportion to the rate of certain federal expenditures incurred during the
construction period. This required contribution is presently estimated
to be $2,295,000. Additionally, the City must provide all land,
easements, rights-of-way, and waste material disposal areas, and perform
all relocations necessary to complete the project. If the value of the
above-mentioned contributions is determined to be less than 25 percent of
the total project costs, the City must make an additional cash
contribution to make its total contribution equal to 25 percent of the
total project costs. The City has incurred a total of $8,295,000 in
project costs as of September 30, 1991. The City is also responsible for
the estimated $2,837,556 of costs necessary to modify the existing Lake
Wichita Dam. These projects are estimated to be completed during the
fiscal year ending September 30, 1993.
38
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D. )
SEPTEMBER 30, 1991
Note 18 - COMMITMENTS AND CONTINGENCIES (CONT'D. )
Construction Contracts
At September 30, 1991, the City was committed to several long-term
construction contracts, but has not accrued or incurred any expenditures
or expenses as the work has not yet been performed. The amounts for which
the various funds are committed to complete these contracts are as
follows:
General Fund $ 544,469
Special Revenue Fund:
Community Development Block
Grant Fund 496,773
Capital Projects Funds:
1980 General Improvements $ 404,679
1981 C.O. General Improvements 359,246
1981 G.O. General Improvements 1,524, 135
1982 General Improvements 885,645
1985 Holliday Creek Project 2,626,568
Total Capital Projects Funds 5,800,273
Enterprise Funds:
Sanitation Fund 499,556
Water and Sewer Fund 8,376,246
Total Enterprise Funds 8,875,802
Total contract commitments $15,717,317
Federally Assisted Programs - Compliance Audits
The City participates in numerous Federally assisted programs, on both a
direct and state pass-through basis, as well as on a service-provider
basis. Principal among these are Community Development Block Grants,
Section 8 Housing Assistance, and the Rental Rehabilitation Program.
In connection with these programs, the City is required to comply with
specific terms and agreements as well as applicable Federal and State laws
and regulations. Such compliance is subject to review and audit by the
grantors and their representatives.
In the opinion of management, the City has complied with all requirements.
However, since such programs are subject to future audit or review, the
possibility of disallowed expenditures exists. In the event of any
disallowance of claimed expenditures, the City expects the resulting
liability to be immaterial.
39
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•
REQUIRED SUPPLEMENTARY
INFORMATION
Wichita*
ichlta i1 ,
TEXAS ��
EXHIBIT B-1
CITY OF WICHITA FALLS, TEXAS
TEXAS MUNICIPAL RETIREMENT SYSTEM - ANALYSIS OF FUNDING PROGRESS -
LAST TEN PLAN YEARS (UNAUDITED)***
(6)
(4) Unfunded Pension
(1) (3) Unfunded (5) Benefit Obligation
Net Assets (2) Percentage Pension Benefit Annual as a Percentage
Plan Available Pension Benefit Funded Obligation Covered of Covered Payroll
Year For Benefits* Obligation (1) + (2) (21 - (1) Payroll (4) + (5)
1981 $10,076,953 $10,893,004 92.5% $ 816,051 $11,865, 120 6.9%
1982** 11,239,691 12,816,960 87.7% 1,577,269 13,340,527 11.8%
1983 12,944,791 15,224,110 85.0% 2,279,319 13,882,452 16.4%
1984 14,902,005 18,130,886 82.2% 3,228,881 14,185,255 22.8%
1985 17, 136,495 21,280,661 80.5% 4,144,166 15,040,953 27.6%
1986 19,097,798 23,567,091 81.0% 4,469,293 15,593,759 28.7%
1987 21,932, 183 27,236,608 80.5% 5,304,425 16,147,248 32.9%
1988 24,462,797 29,184,181 83.8% 4,721,384 17,148,324 27.5%
0 1989 27,272,637 32,538,508 83.8% 5,265,871 17,737,825 29.7%
1990 30,732,508 36,338,409 84.6% 5,605,901 18,827,230 29.8%
Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded
pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as
a percentage of the pension benefit obligation provides one indication of the City's funding status on a going-
concern basis. Analysis of this percentage over time indicates whether the system is becoming financially
stronger or weaker. Generally, the greater this percentage, the stronger the pension plan. Trends in unfunded
pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded
pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of
inflation and aids analysis of the City's progress made in accumulating sufficient assets to pay benefits when
due. Generally, the smaller this percentage, the stronger the pension plan.
* At book value (See Note 8. )
** During 1982, plan benefit provisions were amended to retroactively increase prior service credits. This
amendment had the effect of increasing the pension benefit obligation in 1982 by approximately $537,000.
*** This City retirement plan is substantially a defined contribution plan. These voluntary disclosures, similar
to the disclosures required for a defined plan, are provided for additional analysis of the plan.
EXHIBIT B-2
CITY OF WICHITA FALLS, TEXAS
TEXAS MUNICIPAL RETIREMENT SYSTEM - REVENUES BY SOURCE AND EXPENSES BY TYPE -
LAST TEN PLAN YEARS (UNAUDITED)**
Employer
Contributions
as Percentage Revenues By Source
Plan of Annual Employer Employee Investment
Year Covered Payroll Contributions Contributions Income Total
1981 4.59% $ 544,609 $ 654,082 $ 867,441 $2,066,132
1982* 4.55% 606,994 739,073 1,031,285 2,377,352
1983 4.73% 656,640 775,615 1,206,394 2,638,649
1984 5.10% 723,448 793,676 1,419,569 2,936,693
1985 5.35% 804,691 834,538 1,622,861 3,262,090
1986 5.80% 904,438 864,846 1,857,101 3,626,385
1987 5.96% 962,376 894,829 2, 101,277 3,958,482
1988 6.11% 1,047,763 939,886 2,461,316 4,448,965
1989 6.09% 1,080,234 972,959 2,673,781 4,726,974
1990 6.78% 1,276,486 1,036,662 3, 176,669 5,489,817
Expenses By Type
Aggregate
Plan Benefit Administrative
Year Payments Expenses Refunds Total
1981 $ 237,588 $ 16,493 $343, 141 $ 597,222
1982* 910,303 17,378 286,933 1,214,614
1983 703,210 19,245 211,094 933,549
1984 631,278 18,546 329,655 979,479
1985 587,421 19,884 420,295 1,027,600
1986 1,298,373 19,814 346,895 1,665,082
1987 787,769 20,653 315,675 1,124,097
1988 1,535,680 20,067 362,604 1,918,351
1989 1,502,643 19,016 395,475 1,917, 134
1990 1,574,729 19,570 435,647 2,029,946
Contributions were made in accordance with actuarially-determined contribution
requirements.
* See note on page 40 for a discussion of the 1982 change in employee benefit
provisions.
** This City retirement plan is substantially a defined contribution plan. These
voluntary disclosures, similar to the disclosures required for a defined benefit
plan, are provided for additional analysis of the plan.
41
EXHIBIT B-3
CITY OF WICHITA FALLS, TEXAS
FIREMEN'S RELIEF AND RETIREMENT FUND - ANALYSIS OF FUNDING PROGRESS (UNAUDITED)***
(6)
(4) Unfunded Pension
(1) (3) Unfunded (5) Benefit obligation
Net Assets (2) Percentage Pension Benefit Annual as a Percentage
Valuation Available Pension Benefit Funded obligation covered of Covered Payroll
Date For Benefits* Obligation (1) + (21 (2) - (1) Payroll (4) + (51
4/30/88 $8,176,505 $10,534,610 77.6% $2,358, 105 $3,447,967 68.4%
4/30/89 8,473,929 10,676,806 79.4% 2,202,877 3,608,223 61.1%
4/30/90** 9,281,696 11,770,360 78.9% 2,488,664 3,774,905 65.9%
Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation, and unfunded
r pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as
a percentage of the pension benefit obligation provides one indication of the City's funding status on a going-
concern basis. Analysis of this percentage over time indicates whether the system is becoming financially stronger
or weaker. Generally, the greater this percentage, the stronger the pension plan. Trends in unfunded pension
benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension
benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation
and aids analysis of the City's progress made in accumulating sufficient assets to pay benefits when due.
Generally, the smaller this percentage, the stronger the pension plan.
* At book value (See Note 8. )
** During 1990, the plan was amended to increase standard retirement benefits from 1.63% to 1.90% of the
fireman's average salary multiplied by years of service. This amendment increased the pension benefit
obligation as of April 30, 1990 by approximately $314,000.
*** Historical trend information is presented for as many years as such information about the plan is available.
No actuarial valuation or update was performed as of April 30, 1991, since Texas state law does not require
one to be completed annually. The next actuarial valuation will be completed as of April 30, 1992.
Additional historical trend information will be disclosed in future periods as it becomes available.
EXHIBIT B-4
CITY OF WICHITA FALLS, TEXAS
FIREMEN'S RELIEF AND RETIREMENT FUND -
REVENUES BY SOURCE AND EXPENSES BY TYPE -
LAST TEN PLAN YEARS (UNAUDITED)
Employer
Contributions
as Percentage Revenues BY Source
Plan of Annual Employer Employee Investment
Year Covered Payroll Contributions Contributions Income Total
1981 7.5% $193,964 $168, 144 $282,315 $ 644,423
1982 7.5% 191,205 191,205 334,446 716,856
1983 7.5% 215,613 222,620 378,941 817, 174
1984 7.5% 234,231 281,003 441, 169 956,403
1985 7.5% 242,484 300,292 520,725 1,063,501
1986 9.0% 332,367 312,819 539,855 1, 185,041
1987 9.0% 310,317 310,317 585,591 1,206,225
1988 9.0% 324,740 324,740 662,204 1,311,684
1989* 9.0% 341,956 339,741 661,989 1,343,686
1990 9.0% 346,030 346,030 692,690 1,384,750
Expenses By Type
Aggregate
Plan Benefit Administrative
Year Payments Expenses Refunds Total
1981 $123, 116 $ 158 $ 32,660 $155,934
1982 143,467 - 10,699 154,166
1983 156,382 10,836 25,945 193, 163
1984 242,715 11,645 26,513 280,873
1985 305,442 7,429 26,515 339,386
1986 347,737 17,926 - 365,663
1987 410,180 22,213 17,933 450,326
1988 460,307 13,157 100,085 573,549
1989* 516,173 15,826 18,456 550,455
1990 570, 142 25,341 2,869 598,352
Contributions were made in accordance with actuarially-determined contribution
requirements.
* See note on page 42 for a discussion of the change in employee benefit provisions
approved as of April 30, 1990.
43
Wichita 1 .
TEXAS\
``\\••"
\A*a*
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COMBINING and INDIVIDUAL
F?.�ND FINANCIAL STATEMENTS
QN1W
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g/ s gyp"
The General Fund is used to account for all revenues and expenditures
not accounted for in other funds. It receives a greater variety and
amount of revenues and finances a wider range of governmental activities
than any other fund. Major functions financed by the General Fund
include: Administrative; Finance; Police; Fire; Protective Inspections,
such as building, plumbing and electrical; Traffic Engineering; Public
Works Engineering; Street Maintenance; Health; Community Enrichment
Activities such as Parks, Recreation, and Library; and Planning.
Wichita
TEXAS tt
EXHIBIT C-1
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1991 AND 1990
1991 1990
ASSETS
Cash and cash equivalents $10,011,849 $10,855, 127
Receivables:
Taxes and assessments (less $588,368
and $726,420 allowance for uncollectible
accounts) 1,003,575 1, 135,317
Other City funds 372, 103 538,038
Government agencies 808,074 685,790
Other 142,770 138,284
Inventory 49,037 47,266
Prepaid items 90,677 194,709
other assets 2,837 524
Total assets $12,480,922 $13,595,055
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 416,019 $ 553,688
Accrued payroll 304, 195 245,452
Accrued vacation and sick leave 100,000 100,000
Payable to government agencies 69,520 66,034
Other liabilities 524, 150 496,823
Deferred revenue 916,211 1,065,442
Total liabilities 2,330,095 2,527,439
Fund balance:
Reserved for encumbrances 1,018,427 1, 174,981
Reserved for inventory and prepaid items 139,714 241,975
Unreserved:
Designated for subsequent years expenditures 2,500,000 2,250,000
Undesignated 6,492,686 7,400,660
Total fund balance 10, 150,827 11,067,616
Total liabilities and fund balance $12,480,922 $13,595,055
44
EXHIBIT C-2
(Page 1 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Revenues:
Taxes:
Ad valorem taxes $12,717,445 $13,265,121 $ 547,676 $13,427,344
Penalties and interest 200,000 190,635 ( 9,365) 213,014
City sales tax 7,000,000 6,859,867 ( 140, 133) 6,815,437
Franchise taxes 2,965,000 2,943,295 ( 21,705) 2,972,837
other taxes 326,000 342,470 16,470 307,459
Total taxes 23,208,445 23,601,388 392,943 23,736,091
Charges for services:
Golf, tennis and
recreation fees 113,480 71,909 ( 41,571) 81,980
Tax collection fees 110,343 109,275 ( 1,068) 107,871
Administrative overhead
reimbursements 566,577 566,577 - 543,458
Data processing services 153,532 153,532 - 207,780
Other service charges 132,535 167,420 34,885 170,779
Total charges
for services 1,076,467 1,068,713 ( 7,754) 1, 111,868
Licenses and permits:
Building permits 100,000 77,384 ( 22,616) 106,634
Electrical and plumbing 85,000 76,794 ( 8,206) 80, 169
Health and animal control 306,255 326,648 20,393 306,378
other licenses and
permits 61,823 65,818 3,995 69,445
Total licenses and
permits 553,078 546,644 ( 6,434) 562,626
Fines and forfeitures:
Municipal Court 953,500 756,224 ( 197,276) 878,051
Forfeitures and
confiscated funds - 9,097 9,097 -
Library 22,425 24, 118 1,693 22,353
Total fines and
forfeitures 975,925 789,439 ( 186,486) 900,404
45
EXHIBIT C-2
(Page 2 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Revenues (Cont'd. ) :
Intergovernmental revenue:
Operating grants 997,047 916,504 ( 80,543) 481,662
Wichita Falls School
District 266,848 268,000 1, 152 256,804
Wichita county 41,000 41,000 - 41,000
Total intergovern-
mental revenue 1,304,895 1,225,504 ( 79,391) 779,466
Miscellaneous revenue:
Parking meters 3,800 2,955 ( 845) 3,827
Rentals and concessions 95,559 86, 155 ( 9,404) 87, 151
Interest 1,001,000 1,054,546 53,546 1,276,641
Sale of fixed assets 24,500 16,976 ( 7,524) 30,348
Other 44,600 94,583 49,983 55,076
Total miscellaneous
revenue 1, 169,459 1,255,215 85,756 1,453,043
Total revenues 28,288,269 28,486,903 198,634 28,543,498
Expenditures:
Administrative services
division:
Mayor and City Council 65,802 61,385 4,417 68,899
City Manager 273,166 268,985 4, 181 294,020
Legal 304,517 304,056 461 305,246
Personnel/Risk Management 358, 101 332,965 25, 136 360,020
City Clerk 90,305 88,786 1,519 94,520
Martin Luther King Center 75,414 75,381 33 82,778
Farmer's Market 23, 175 16,707 6,468 27,799
Library 636,050 598,025 38,025 578,055
Property Management 48,088 48,081 7 46,374
Data Processing 623,774 618,450 5,324 633,234
Community Information 89,743 85,903 3,840 89,207
Nondepartmental 1,679,904 1,628,055 51,849 1,260,552
Municipal Court 419,073 400,730 18,343 381,645
Building Maintenance 491, 135 471,210 19,925 396,851
Purchasing 39,935 38,390 1,545 36,380
Total administrative
services division 5,218, 182 5,037, 109 181,073 4,655,580
46
EXHIBIT C-2 I
(Page 3 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Expenditures (Cont'd. ) :
Police division:
Police 9,261.227 8,552,989 708,238 8,359,078
Fire division:
Fire 5.416,897 5,393,852 23,045 5,360,935
Parks and recreation
division:
Recreation 580,496 572,267 8,229 469,674
Park maintenance 2, 127,043 1,737,866 389, 177 1,779,285
Cemetery 159,790 123,446 36,344 139,521
Total parks and
recreation
division 2,867,329 2,433.579 433,750 2,388,480
Accounting/finance division:
Accounting/finance 272, 185 250,560 21,625 268,392
Tax 170,662 166,900 3,762 159,918
Total accounting/
finance division 442,847 417,460 25,387 428,310
Planning division:
Planning 286, 123 269,972 16, 151 326,867
Public works division:
Engineering 2,347,436 1,996,067 351,369 1,269, 118
Inspection 394, 119 393,356 763 426,951
Street 2,578,773 2,576,497 2,276 2,528,430
Total public works
division 5.320,328 4,965,920 354,408 4,224,499
Health division:
Administration 172,784 172,577 207 208,391
Nursing 817,688 764,507 53, 181 749,836
Air and water pollution 187,721 167,288 20,433 183, 180
Laboratory 149,955 141,246 8,709 103,713
General environment 268,062 228,942 39, 120 214,497
Food and vector control 320,966 291,457 29,509 289,639
Animal control 196,310 189,746 6,564 184,098
Total health
division 2, 113,486 1,955.763 157,723 1,933,354
47
EXHIBIT C-2
(Page 4 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Expenditures (Cont'd. ) :
Traffic and transportation
division:
Traffic engineering 1,241,468 1, 181,922 59,546 1, 197,787
Total expenditures 32, 167,887 30,208,566 1,959,321 28,874,890
Excess of revenues over
(under) expenditures ( 3,879,618) ( 1,721,663) 2, 157,955 ( 331,392)
Other financing sources (uses) :
Operating transfers in 966,084 966,084 - 950,541
Operating transfers out ( 222,969) ( 161,210) 61,759 ( 213,515)
Total other financing
sources (uses) 743,115 804,874 61,759 737,026
Excess of revenues and other
sources over (under)
expenditures and other uses ($ 3, 136.503) ( 916,789) $2,219,714 405,634
Fund balance - beginning 11,067,616 10,661,982
Fund balance - ending $10, 150,827 $11,067,616
48
TEXAS\
, -: /' F / ,,; %� i''-,:,; c yam g'`� y/
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SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for the proceeds of specific
revenue sources (other than expendable trusts or for major capital
projects) that are legally restricted to be expended for specified
purposes. Seven individual funds are reported within the Special
Revenue Funds as follows:
Revenue Sharing Fund
The Revenue sharing Fund accounts for all federal revenue sharing
receipts and related expenditures.
Civic/Community Promotion Fund
The civic/community Promotion Fund accounts for the operations of the
Wichita Falls Municipal Auditorium and the Wichita Falls Activity
Center.
Hotel/Motel Tax Fund
The Hotel/Motel Tax Fund accounts for revenues derived from an
occupancy tax which is expended on programs promoting the growth of
the City of Wichita Falls.
Community Development Block Grant Fund
The Community Development Block Grant Fund accounts for federal block
grant revenues and related expenditures.
Miscellaneous Special Revenue Fund
The Miscellaneous Special Revenue Fund accounts for various revenues
generated in the form of contributions, fees, concessions, rents and
other charges and their related expenditures. The revenues in this
fund are expended to support the activity generating the revenue or
as designated by the contributor.
section 8 Housing Fund
The Section 8 Housing Fund accounts for federal funds received to
subsidize rents and housing payments for lower income families within
the City.
Rental Rehabilitation Program Fund
The Rental Rehabilitation Program Fund accounts for federal funds
received to provide decent, safe, sanitary and affordable rental
housing for lower income families within the City by rehabilitating
existing substandard rental units to a condition which brings them
into compliance with the Standard Housing Code and the requirements
of the U.S. Department of Housing and Urban Development.
EXHIBIT D-1
CITE OF VICHITA FALLS, TEXAS
SPECIAL mammas FUNDS
COMBINING m m=CE SHEET
SEPTE BER 30, 1991
HITS COMPARATIVE TOTALS AT SmTABER 30, 1990
Civic/ Hotel/ Community Miscellaneous Rental
Revenue Community Motel Development Special Section 8 Rehabilitation Totals
Sharing Promotion Tax Block Grant Revenue Housing Program 1991 1990
ASSETS
Cash and cash equivalents $ 330,535 $14,171 $ 83,205 $ - $675,591 $166,366 $ - $1,269,868 $1,081,417
Receivables:
Taxes and asaesamanta - - 200,720 - - - - 200,720 172,402
Government agencies - - - 1,023,759 - 1,831 94,448 1,120,038 1,046,139
Other - 3,869 - - - - - 3,869 6,435
Prepaid items - 3,638 - 18,000 3,357 115,703 - 140,698 137,323
Total assets 1 330,535 21 678 $283,925 $1,041,759 $678,948 $283,900 $ 94,448 $2,735,193 $2,443,716
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ - $13,313 $ - $ 63,315 $ 5,714 $ 2,398 $ 15,450 $ 100,190 $ 141,397
%G Accrued payroll - 1,843 - 3,371 - 1,882 - 7,096 5,292
Payable to other City funds - - - 176,270 - - - 176,270 189,785
Payable to government agencies - - - - - 13,795 - 13,795 9,624
Other liabilities - 950 555 32,916 31,253 618 - 66.292 14,223
Total liabilities - 16,106 555 275,872 36,967 18,693 15,450 363,643 360,321
Fund balance:
Reserved for encumbrances - 1,934 - 496,773 392 - - 499,099 52,886
Reserved for prepaid items - 3,638 - 18,000 357 115,703 - 137,698 135,323
Unreserved:
Designated for subsequent
years expenditures 330,535 - - 251,114 641,232 149,504 78,998 1,451,383 1,775,747
Undesignated - - 283,370 - - - - 283,370 119,439
Total fund balance 330,535 5,572 283,370 765,887 641,981 265,207 78,998 2,371,550 2,083,395
Total liabilities and fund balance $ 330,535 21 678 $283,925 $1,041,759 $678,948 283 900 94 448 2 735 193 $2,443,716
EXHIBIT D-2
CITY OF WICHITA FALLS, TEXAS
SPECIAL Immo E FONDS
COMBINING BTATEf®T OF EEVoOEB, ....o...........i... AND CHANGE= IN FOND BALANCE - BUDGES AND ACHLL
FOR THE TEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE TOTALS FOR THE TEAR QED SEPTIDBER 30, 1990
Totals
1991 1990
Civic/ Hotel/ Community Miscellaneous Rental Variance -
Revenue Community Motel Development Spacial Section 8 Rehabilitation Favorable
Sharing Promotion Tax Block Grant Revenue Housing Program Actual Budget (Unfavorable) Actual
Revenues:
Taxes $ - $ - $711,398 $ - $ - $ - $ - $ 711,398 $ 575,000 $ 136,398 $ 589,922
Charges for services - - - - 158,533 - - 158,533 169,673
( 11,140) -
Fines and forfeitures - - - - 12,907 - - 32,907 35,213 ( 2,306) -
Intergovernmental revenue - - - 1,246,000 - 1,631,208 82,000 2,959,208 3,002,728 ( 43,520) 2,910,982
Miscellaneous revenue 21,746 216,309 - 15,870 166,572 - - 420,497 326,666 93,831 592,584
Total revenues 21,746 216,309 711,398 1,261,870 358,012 1,631,208 82,000 4,282,543 4,109,280 173,263 4,093,488
Expenditures:
Current:
Administrative services
division 309 363,630 394,799 278,644 42,241 1,585,276 57,969 2,722,868 3,065,723 342,855 2,825,943
Parks and recreation
division 606 - - 33,560 264,652 - - 298,818 614,046 315,228 347,159
Accounting/finance
Ls' division - - - - - - - - 677 677 -
Q Public works division - - - 714,428 - - - 714,428 1,414,104 699,676 1,280,800
Health division - - - 94,930 - - - 94,930 96,029 1,099 93,110
Traffic and transpor-
tation division - - - - -
- - - 104,654 104,654 338,449
Capital outlay - - _ - 128,879 34,465 - - 163,344 503,665 340,321 22,550
Total expenditures 915 363,630 394,799 1,250,441 341,358 1,585,276 57,969 3,994,388 5,798,898 1,804,510 4,908,011
Excess of revenues over
(under) expenditures 20,831 ( 147,321) 316,599 11,429 16,654 45,932 24,031 288,155 ( 1,689,618) 1,977,773 ( 814,523)
Other financing sources (uses):
Operating transfers in - 152,893 - - - - - 152,893 183,025
Operating transfers out - - ( 152,893) - - - - ( 30,132) 246,862
( 152,893) ( 183,025) 30,132 ( 246,862)
Total other
financing sources
(uses) - 152,893 ( 152,893) - - - - - - - -
Excess of revenues and other
sources over (under)
expenditures and other uses 20,831 5,572 163,706 11,429 16,654 45,932 24,031 288,155 ($1,689,618) $1,977,773 ( 814,523)
Fund balance - beginning 309,704 - 119,664 754,458 625,327 219,275 54,967 2,083,395 2,897,918
Fund balance - ending 2 330,535 5 572 283 370 1 765,887 $641,981 $ 265,207 $ 78,998 $2,371,550 $2,083,395
EXHIBIT D-3
CITY OF WICHITA FALLS, TEXAS
REVENUE SHARING FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1991 AND 1990
1991 1990
ASSETS
Cash and cash equivalents S 330,535 $ 309,704
Total assets S 330,535 $ 309,704
LIABILITIES AND FUND BALANCE,
Liabilities S - $ -
Fund balance:
Unreserved:
Designated for subsequent years
expenditures 330,535 309,704
Total fund balance 330,535 309,704
Total liabilities and fund balance $ 330,535 $ 309,704
51
EXHIBIT D-4
CITY OF WICHITA FALLS, TEXAS
REVENUE SHARING FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Revenues:
Miscellaneous revenue:
Interest $ - $ 21,746 $ 21,746 $ 24,088
Expenditures:
Current:
Administrative services
division 838 309 529 967
Parks and recreation
division 31,574 606 30,968 7,775
Accounting/finance
division 677 - 677 -
Traffic and transporta-
tion division 104,654 - 104,654 -
Capital outlay 95,742 - 95,742 -
Total expenditures 233,485 915 232,570 8,742
Excess of revenues over
(under) expenditures ($ 2331.111) 20,831 $ 254,316 15,346
Fund balance - beginning 309,704 294,358
Fund balance - ending $ 330,535 $ 309,704
52
EXHIBIT D-5
CITY OF WICHITA FALLS, TEXAS
CIVIC/COMMUNITY PROMOTION FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1991 AND 1990
1991 1990
ASSETS
Cash and cash equivalents $ 14, 171 $ 20,289
Receivables:
Other 3,869 5,335
Prepaid items 3,638 225
Total assets $ 21,678 $ 25,849
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 13,313 $ 23,534
Accrued payroll 1,843 1,465
Other liabilities 950 850
Total liabilities 16, 106 25,849
Fund balance:
Reserved for encumbrances 1,934 -
Reserved for prepaid items 3,638 225
Unreserved:
Undesignated - ( 225)
Total fund balance 5,572 -
Total liabilities and fund balance $ 21,678 $ 25,849
53
EXHIBIT D-6
CITY OF WICHITA FALLS, TEXAS
CIVIC/COMMUNITY PROMOTION FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Revenues:
Miscellaneous revenue:
Rentals and concessions $ 198,000 $ 216,205 $ 18,205 $ 204,240
Other - 104 104 -
Total revenues 198,000 216,309 18,309 204,240
Expenditures:
Current:
Administrative services
division 381,025 363,630 17,395 449,007
Excess of revenues over
(under) expenditures ( 183.025) ( 147,321) 35,704 ( 244,767)
other financing sources (uses) :
Operating transfers in 183,025 152,893 ( 30,132) 246,862
Excess of revenues and other
sources over expenditures
and other uses $ - 5,572 $ 5,572 2,095
Fund balance (deficit) -
beginning _
( 2,095)
Fund balance - ending $ 5,572 $ -
54
EXHIBIT D-7
CITY OF WICHITA FALLS, TEXAS
HOTEL/MOTEL TAX FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1991 AND 1990
1991 1990
ASSETS
Cash and cash equivalents $ 83,205 $ -
Receivables:
Taxes and assessments 200,720 172,402
Total assets $ 283,925 $ 172,402
LIABILITIES AND FUND BALANCE
Liabilities:
Payable to other City funds $ - $ 52, 183
Other liabilities 555 555
Total liabilities 555 52,738
Fund balance:
Unreserved:
Undesignated 283,370 119,664
Total liabilities and fund balance $ 283,925 $ 172,402
55
EXHIBIT D-8
CITY OF WICHITA FALLS, TEXAS
HOTEL/MOTEL TAX FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Revenues:
Taxes $ 575,000 $ 711,398 $ 136,398 $ 589,922
Expenditures:
Current:
Administrative services
division 394,975 394,799 176 418,362
Excess of revenues over
expenditures 180,025 316,599 136,574 171,560
Other financing sources (uses) :
Operating transfers out ( 183,025) ( 152,893) 30, 132 ( 246,862)
Excess of revenues and other
sources over (under)
expenditures and other uses ($ 3,000) 163,706 $ 166,706 ( 75,302)
Fund balance - beginning 119,664 194,966
Fund balance - ending $ 283,370 $ 119,664
56
EXHIBIT D-9
CITY OF WICHITA FALLS, TEXAS
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1991 AND 1990
1991 1990
ASSETS
Receivables:
Government agencies $1,023,759 $ 981,505
Prepaid items 18,000 18,030
Total assets $1,041,759 $ 999,535
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 63,315 $ 104,702
Accrued payroll 3,371 2,442
Payable to other City funds 176,270 133,237
Other liabilities 32,916 4,696
Total liabilities 275,872 245,077
Fund balance:
Reserved for encumbrances 496,773 15,440
Reserved for prepaid items 18,000 18,030
Unreserved:
Designated for subsequent years
expenditures 251, 114 720,988
Total fund balance 765,887 754,458
Total liabilities and fund balance $1,041,759 $ 999,535
57
EXHIBIT D-10
CITY OF WICHITA FALLS, TEXAS
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Revenues:
Intergovernmental revenue:
Operating grants S 1.233,000 $ 1,246,000 $ 13,000 $ 1,253,000
Miscellaneous revenue:
Sale of fixed assets - 15,559 15,559 7,295
other - 311 311 -
Total miscellaneous
revenue - 15,870 15,870 7,295
Total revenues 1,233,000 1,261,870 28,870 1,260,295
Expenditures:
Current:
Administrative services
division 287,522 278,644 8,878 271,867
Parks and recreation
division 46,356 33,560 12,796 110,820
Public works division 1,414, 104 714,428 699,676 1,280,800
Health division 96,029 94,930 1,099 93, 110
Traffic and transporta-
tion division - - - 338,449
Capital outlay 142,975 128,879 14,096 -
Total expenditures 1,986,986 1,250,441 736,545 2,095,046
Excess of revenues over
(under) expenditures (S 753,986) 11,429 $ 765,415 ( 834,751)
Fund balance - beginning 754,458 1,589,209
Fund balance - ending $ 765,887 $ 754,458
58
EXHIBIT D-11
CITY OF WICHITA FALLS, TEXAS
MISCELLANEOUS SPECIAL REVENUE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1991 AND 1990
1991 1990
ASSETS
Cash and cash equivalents $ 675,591 $ 638,501
Receivables:
Other - 1, 100
Prepaid items 3,357 2,000
Total assets $ 678,948 $ 641,601
LIABILITIES AND FUND BALANCE,
Liabilities:
Accounts payable - trade $ 5,714 $ 8,770
Other liabilities 31,253 7,504
Total liabilities 36,967 16,274
Fund balance:
Reserved for encumbrances 392 37,446
Reserved for prepaid items 357 -
Unreserved:
Designated for subsequent years
expenditures 641,232 587,881
Total fund balance 641,981 625,327
Total liabilities and fund balance $ 678,948 $ 641,601
59
EXHIBIT D-12
CITY OF WICHITA FALLS, TEXAS
MISCELLANEOUS SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budaet Actual (Unfavorable) Actual
Revenues:
Charges for services:
Recreation fees $ 169,673 $ 158,533 (S 11,140) $ 157,263
Fines and forfeitures:
Forfeitures and
confiscated funds 35,213 32,907 ( 2,306) 29,900
Miscellaneous revenue:
Rentals and concessions 50,041 49,269 ( 772) 42,240
Sale of fixed assets 449 449 - 156
Interest - 43,701 43,701 49,460
Donations 56,015 46,792 ( 9,223) 38,392
Cemetery perpetual care - 19,187 19, 187 38,350
other 22,161 7, 174 ( 14,987) 50
Total miscellaneous
revenue 128,666 166,572 37,906 168,648
Total revenues 333,552 358,012 24,460 355,811
Expenditures:
Current:
Administrative services
division 95,268 42,241 53,027 43, 107
Parks and recreation
division 536, 116 264,652 271,464 228,564
Capital outlay 264,348 34,465 229,883 10,753
Total expenditures 895,732 341,358 554,374 282,424
Excess of revenues over
(under) expenditures (S 562,180) 16,654 $ 578,834 73,387
Fund balance - beginning 625,327 551,940
Fund balance - ending $ 641,981 $ 625,327
•
60
EXHIBIT D-13
CITY OF WICHITA FALLS, TEXAS
SECTION 8 HOUSING FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1991 AND 1990
1991 1990
ASSETS
Cash and cash equivalents $ 166,366 $ 112,923
Receivables:
Government agencies 1,831 1,831
Prepaid items 115,703 117,068
Total assets $ 283,900 ,$ 231,822
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 2,398 $ 920
Accrued payroll 1,882 1,385
Payable to government agencies 13,795 9,624
Other liabilities 618 618
Total liabilities 18,693 12,547
Fund balance:
Reserved for prepaid items 115,703 117,068
unreserved:
Designated for subsequent years
expenditures 149.504 102,207
Total fund balance 265,207 219.275
Total liabilities and fund balance $ 283,900 $ 231,822
61
EXHIBIT D-14
CITY OF WICHITA FALLS, TEXAS
SECTION 8 HOUSING FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Revenues:
Intergovernmental revenue:
Operating grants $ 1,769,728 $ 1,631, 104 ($ 138,624) $ 1,601,982
other - 104 104 -
Total inter-
governmental
revenue 1,769,728 1,631,208 ( 138,520) 1,601,982
Miscellaneous revenue:
sale of fixed assets - - - 1, 150
Total revenues 1,769,728 1,631,208 ( 138,520) 1,603,132
Expenditures:
Current:
Administrative services
division 1,769, 128 1,585,276 183,852 1,555,473
Capital outlay 600 - 600 11,797
Total expenditures 1,769,728 1,585,276 184,452 1,567,270
Excess of revenues over
expenditures $ - 45,932 S 45,932 35,862
Fund balance - beginning 219,275 183,413
Fund balance - ending S 265,207 S 219,275
62
EXHIBIT D-15
CITY OF WICHITA FALLS, TEXAS
RENTAL REHABILITATION PROGRAM FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1991 AND 1990
1991 1990
ASSETS
Receivables:
Government agencies $ 94,448 $ 62,803
Total assets $ 94,448 $ 62,803
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 15,450 $ 3,471
Payable to other City funds - 4,365
Total liabilities 15,450 7,836
Fund balance:
Unreserved:
Designated for subsequent years
expenditures 78,998 54,967
Total liabilities and fund balance $ 94,448 $ 62,803
63
EXHIBIT D-16
CITY OF WICHITA FALLS, TEXAS
RENTAL REHABILITATION PROGRAM FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Revenues:
Intergovernmental revenue:
Operating grants $ - S 82,000 $ 82,000 $ 56,000
Expenditures:
Current:
Administrative services
division 136,967 57.969 78,998 87,160
Excess of revenues over
(under) expenditures ($ 136,967) 24,031 S 160,998 ( 31,160)
Fund balance - beginning 54.967 86,127
Fund balance - ending S 78.998 $ 54,967
64
Wichita � 1 ,
TEXAS\
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DEBT SERVICE FUND
The Debt Service Fund, also known as the Interest and Sinking Fund, is
established by ordinances authorizing the issuance of general obligation
bonds to provide for the payment of bond principal and interest. An ad
valorem tax rate and tax levy are required to be computed and levied
which will be sufficient to produce the funds required to pay principal
and interest as they come due. This fund is also used to provide for
the payment of paying agent fees.
EXHIBIT E-1
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1991 AND 1990
1991 1990
ASSETS
Cash and cash equivalents $ 562,296 $ 680,353
Receivables:
Taxes (net of allowance for uncollectible
taxes of $143,000 and $126, 106) 249,740 372,754
Total assets $ 812,036 $1,053,107
LIABILITIES AND FUND BALANCE
Liabilities:
Deferred revenue $ 230,491 $ 358, 172
Fund balance:
Designated for debt service 581,545 694,935
Total liabilities and fund balance $ 812,036 $1,053, 107
65
EXHIBIT E-2
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991
Variance -
Favorable 1990
Budget Actual (Unfavorable) Actual
Revenues:
Taxes:
Ad valorem taxes $ 2,290,615 $ 2,064,874 ($ 225,741) $ 2,267,952
Miscellaneous:
Interest - 108,460 108,460 129,922
Total revenues 2,290,615 2, 173,334 ( 117,281) 2,397,874
Expenditures:
Principal retirement 710,000 710,000 - 670,000
Interest and paying
agent fees 1,580,615 1,576,724 3,891 1,617,739
Total expenditures 2,290,615 2,286,724 3,891 2,287,739
Excess of revenues over
(under) expenditures $ - ( 113,390) ($ 113,39(2) 110, 135
Fund balance - beginning 694,935 584,800
Fund balance - ending $ 581,545 $ 694,935
66
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Wichita►
TEXAS\
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CAPITAL PROJECTS FUNDS
The Capital Projects Funds are used to account for financial resources
to be used for the acquisition or construction of major capital
facilities (other than those financed by Proprietary Funds) . The six
Capital Projects Funds are as follows:
1980 General Improvements
This fund was established to account for the projects financed by the
1980 General Obligation Bonds. Significant projects accounted for
in this fund included drainage improvements, installation of traffic
control equipment, and improvements to the Central Services Complex.
1981 C.o. General Improvements
This fund was established to account for the projects financed by the
1981 certificates of obligation. Significant projects accounted for
in this fund included the construction of a solid waste transfer
station and the improvements to Holliday Creek designed to increase
flood control capabilities.
1981 G.O. General Improvements
This fund was established to account for the projects financed by the
1981 General Obligation Bonds. Significant projects accounted for
in this fund included street improvements and the construction of a
storm drain.
1982 General Improvements
This fund was established to account for the projects financed by the
1982 General Obligation Bonds. Significant projects accounted for
in this fund included park improvements, street improvements and the
construction of a softball complex.
1985 Holliday Creek Proiect
This fund was established to account for a single project financed
by the 1985 General Obligation Bonds. The project is designed to
increase flood control capabilities in the Holliday Creek area.
Capital Improvement Assessments
This fund was established to account for special assessments which
are capital in nature and enhance the utility, accessibility, or
aesthetic value of the affected properties. Significant projects
accounted for in this fund are streets and sidewalks.
EXHIBIT F-1
CITY OF WICHITA FALLS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1991
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1990
1985
1980 1981 1981 1982 Holliday Capital
General C.O. General G.O. General General Creek Improvement Totals
Improvements Improvements Improvements Improvements Project Assessments 1991 1990
ASSETS
Cash and cash equivalents $ 825,796 $498,391 $2,119,935 $1,308,392 $4,872,517 $591,161 $10,216,192 $ 5,586,663
Investments - - - - - - - 5,193,096
Receivables:
Capital improvement assessments - - - - - 362,985 362,985 438.376
Total assets $ 825,796 $498,391 $2,119,935 $1,308,392 $4,872,517 $954146 $10,579,177 $11,218,135
CA
v LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ - $ - $ - $ - $ 25,910 $ - $ 25,910 $ 9,332
Other liabilities - - - 8,792 643 4,550 13,985 14,078
Deferred revenue - - - - - 362,985 362,985 438,376
Total liabilities - - - 8,792 26,553 367,535 402,880 461,786
Fund balance:
Reserved for encumbrances 404,679 359,246 1,524,135 665,645 2,626,568 - 5,800,273 5,202,757
Unreserved:
Designated for subsequent
years expenditures 421,117 139,145 595,800 413,955 2,219,396 586,611 4,376,024 5,553,592
Total fund balance 825,796 498,391 2,119,935 1,299,600 4,845,964 586,611 10,176,297 10,756,349
Total liabilities and fund balance $ 825,796 $498,391 $2,119,935 $1,308,392 $4,872,517 $954,146 $10,579,177 $11,218,135
EXHIBIT F-2
CITY OF WICHITA FALLS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED .sri a 30, 1991
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1985
1980 1981 1981 1982 Holliday Capital
General C.O. General G.O. General General Creek Improvement Totals
Improvements Improvements Improvements Improvements Proiect Assessments 1991 1990
Revenues:
Miscellaneous:
Capital improvement
assessments $ - $ - $ - $ - $ - $ 8,112 $ 8,112 $ 8,155
Interest 27,674 9,140 39,134 30,108 645,369 42,109 793,534 929,015
Other - - - - - 49 49 190
OD OD Total revenues 27,674 9,140 39,134 30,108 645,369 50,270 801,695 937,360
Expenditures:
Park improvements - - - - - - - 1,507
Drainage improvements 203 - - - - - 203 5,343
Softball complex - - - - - - - 12
Holliday Creek improvements - - - - 1,381,544 - 1,381,544 1,643,029
Total expenditures 203 - - - 1,381,544 - 1,381,747 1,649,891
Excess of revenues over (under)
expenditures 27,471 9,140 39,134 30,108 ( 736,175) 50,270 ( 580,052) ( 712,531)
Fund balance - beginning 798,325 489.251 2,080,801 1,269,492 5,582,139 536,341 10,756.349 11,468,680
Fund balance - ending $ 825,796 $498,391 $2,119,935 $1,299,600 $4,845,964 $586,611 $10,176,297 $10,756,349
Wichita
TEXAS It
Fi
.45
ENTERPRISE FUNDS
Enterprise Funds are used to account for operations that are financed
and operated in a manner similar to private business enterprises. The
intent of the governing body is that the cost of providing the service
to the general public on a continuing basis be recovered primarily
through user charges. The Enterprise Funds include the following:
Airport Fund
The Airport Fund was established to account for the operating
revenues and expenses of the Wichita Falls Municipal Airport. The
airport is operated on land leased from the Department of Defense.
Commercial and private aviation share airport facilities and runways
owned by Sheppard Air Force Base.
Transit Fund
The Transit Fund accounts for the operation of the Wichita Falls
transit system. This system is supported from passenger fees,
subsidies from the General Fund and subsidies from the Urban Mass
Transportation Administration.
Sanitation Fund
The Sanitation Fund was established to account for the operating
revenues and expenses associated with the collection of residential
garbage and refuse produced by commercial establishments within the
City of Wichita Falls. Although a program of the City government,
the Sanitation Fund is operated as a separate enterprise and the
accounting records are maintained on an enterprise fund basis.
Water and Sewer Fund
The Water and Sewer Fund was established for control of the operating
revenues and expenses of the City of Wichita Falls water and sewer
utility. To comply with bond ordinances and accounting policies, a
number of funds have been established to account for water and sewer
maintenance and operations, billing and collection, extensions and
improvements, and debt service. The various funds used to account
for the different functions have been combined into the Water and
Sewer Fund as presented in the financial statements.
EXHIBIT G-1
(Page 1 of 2)
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1991
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1990
Water and Totals
Airport Transit Sanitation Sewer 1991 1990
ASSETS
Current assets:
Cash and cash equivalents $ 294,841 $ 251 $2,455,898 $ 7,564,893 $ 10,315,883 $ 9,219,916
Receivables:
Customer and trade 23,001 - 452,576 1,057,627 1,533,204 1,840,856
Government agencies - 197,320 - - 197,320 343,291
Other 45,006 48 3,499 - 48,553 182,591
Inventory - - - 625,277 625,277 605,681
Prepaid items 1,534 406 11,120 17,449 30,509 6,507
Total current assets 364,382 198,025 2,923,093 9,265,246 12,750,746 12,198,842
Restricted assets:
ON Cash and cash equivalents - - - 8,353,315 8,353,315 5,143,445
033
108 300 108 300 2 561
Investments - - - . , . .
Receivables:
Government agencies - - - 8,593,467 8,593,467 1,501,401
Other - - - 20,421 20,421 23,827
Total restricted assets - - - 17,075,503 17,075,503 9,229,706
Plant and equipment:
Land and betterments 1,468,175 61,925 653,692 22,414,888 24,596,680 24,598,680
Buildings, systems and improvements 1,451,662 626,867 2,298,370 70,732,479 75,109,378 74,891,068
Machinery and equipment 16,542 78,137 92,206 2,618,040 2,804,925 2,751,638
Furniture and fixtures 12,477 6,128 4,750 21,507 44,862 44,863
Motor vehicles and equipment - - - 3,670 3,670 3,670
Construction in progress - - - 22,289,470 22,289,470 5,650,573
2,948,656 773,057 3,049,018 118,080,054 124,850,985 107,940,492
Less accumulated depreciation ( 1,260,803) ( 109,579) ( 515,157) ( 34,630,493) ( 36,516,032) ( 34,579,391)
Total plant and equipment 1,688,053 663,478 2,533,861 83,449,561 88,334,953 73,361,101
Other assets:
Deferred charges - - - 554,278 554,278 593,869
Total assets $2,052,435 $ 861,503 $5,456,954 $110,344,588 $118,715,480 $ 95,383„518
EXHIBIT G-1
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING BALANCE SHEET (CONT'D.)
SEPTEMBER 30, 1991
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1990
Water and Totals
Airport Transit Sanitation Sewer 1991 1990
LIABILITIES AND FUND EQUITY
Current liabilities payable from current assets:
Accounts payable - trade $ 6,080 $ 6,941 $ 80,453 $ 230,017 $ 323,491 $ 662,410
Accrued payroll 1,430 21,545 93,771 171,619 288,365 262,826
Payable to other City funds - 195,833 - - 195,833 348,253
Government agencies 2,196 - - - 2,196 29,415
Other liabilities 48,036 1 7,076 119,385 174,498 139,491
Total current liabilities payable
from current assets 57,742 224,320 161,300 521,021 984,383 1,442,395
Current liabilities payable from restricted assets:
0 Contracts and trade - - -
1,893,14E 1,893,14E 960,962
Revenue bonds - current maturities - - - 725,000 725,000 680,000
Accrued interest - revenue bonds - - - 404,809 404,609 300,344
Matured bonds payable - - - 3,000 3,000 3,000
Total current liabilities payable
from restricted assets - - - 3,025,955 3,025,955 1,944,306
Long-term liabilities:
Payable to U.S. Government - - - 1,042,169 1,042,169 1,059,672
Revenue bonds, less current maturities - - - 44,543,467 44,543,467 24,146,401
Total long-term liabilities - - - 45,585,636 45,585,636 25,206,073
Long-term liabilities payable from restricted assets:
Customer deposits - - - 1,132,321 1,132,321 1,080,408
Total liabilities 57,742 224,320 181,300 50,264,933 50,728,295 29,673,182
Fund equity:
Contributed capital 2,277,385 826,338 2,907,626 16,454,712 22,466,061 22,416,467
Retained earnings (deficit):
Reserved for revenue bond debt service - - - 3,014,427 3,014,427 2,873,399
Unreserved ( 282,692) ( 189,155) 2,368,028 40,610,516 42,506,697 40,420,470
Total retained earnings (deficit) ( 282,692) ( 189,155) 2,368,028 43,624,943 45,521,124 43,293,869
Total fund equity 1,994,693 637,183 5,275,654 60,079,655 67,987,185 65,710,336
Total liabilities and fund equity $2,052,435 $ 861,503 $5,456,954 $110,344,588 $118,715,480 $ 95,3830518
EXHIBIT G-2
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED aZc.a.,f..,.h. 30, 1990
Water and Totals
Airport Transit Sanitation Sewer 1991 1990
Operating revenues:
Charges for services $ 20,279 $127,179 $5,196,881 $13,013,044 $18,357,383 $16,055,639
Rents, concessions and other 191,243 232 2,023 144,227 337,725 399,227
Total operating revenues 211,522 127,411 5,198,904 13,157,271 18,695,108 18,454,866
Operating expenses:
Personnel services 31,777 370,767 1,866,052 3,353,390 5,623,986 5,508,731
Supplies and materials 494 68,059 21,864 614,667 705,084 799,858
Maintenance and repairs 24,238 88,477 2,539,360 2,786,320 5,438,395 5,420,000
Utilities and other services 102,143 32,448 232,529 2,187,278 2,554,398 2,342,324
Insurance and contract support 2,842 4,185 151,971 381,779 540,777 535,262
Depreciation and amortization 89,829 14,583 59,080 1,812,741 1,976,233 1,967,252
Total operating expenses 251,323 578,519 4,872,856 11,136,175 16,838,873 16,573,427
Operating income (loss) ( 39,801) ( 451,108) 326,048 2,021,096 1,856,235 1,881,439
r-,
Nonoperating revenues (expenses):
Interest income 22,370 - 151,514 994,109 1,167,993 1,263,719
Loss on sale of assets - - - - - ( 2,829)
Litigation proceeds - - - - - 51,980
Interest expense and paying agent fees - - - ( 582,568) ( 582,568) ( 584,477)
Contributions from operating grants - 387,276 - - 387,276 182,846
Total nonoperating revenues (expenses) 22,370 387,276 151,514 411,541 972,701 911,239
Income (loss) before operating transfers ( 17,431) ( 63,832) 477,562 2,432,637 2,828,936 2,792,678
Operating transfers:
Operating transfers in - 161,210 - - 161,210 213,515
Operating transfers out - - ( 380,692) ( 272,958) ( 653,650) ( 638,107)
Net operating transfers - 161,210 ( 380,692) ( 272,958) ( 492,440) ( 424,592)
Net income (loss) ( 17,431) 97,378 96,870 2,159,679 2,336,496 2,368,086
Retained earnings (deficit) - beginning ( 265,261) ( 177,292) 2,271,158 41,465,264 43,293,869 40,934,245
Equity transfer - ( 109,241) - - ( 109,241) ( 8,462)
Retained earnings (deficit) - ending ($ 282,692) ($189,155) $2,368,028 $43,624,943 $45,521,124 $43,293,869
EXHIBIT G-3
CITY OF WICEITA FALLS, TEEAS
ENTERPRISE FONDS
COMBINING STAMMER OF CASE FLOWS
FOE THE TEAR ENDED SEPlEBER 30, 1991
WITH COMPARATIVE TOTALS FOR THE TEAR®E)SEPTE BER 30, 1990
Water and Totals
Airport Transit Sanitation Sewer 1991 1990
Cash flows from operating activities:
Operating income (loss) ($ 39,801) ( 451 108 jam`) $ 326,048 $ 2,O21,096 $ 1,856,235 $ 1,881,439
Adjustments to reconcile operating income (loss) to net
cash provided by (used in) operating activities,
Depreciation and amortization 89,829 14,583 59,080 1,812,741 1,976,233 1,967,252
(Increase) decw... in current assets,
Hew ivables,
Customer and trade 2,339 - 23,074 282,239 307,652 ( 117,957)
Government agencies - 145,971 - - 145,971 ( 182,846)
Other 14,711 ( 48) 371 119,004 134,038 ( 86,954)
Inventory _ _
- ( 19,596) ( 19,596) ( 42,969)
Prepaid items ( 1,342) ( 401) ( 8,873) ( 13,386) ( 24,002) ( 1,984)
Other restricted assets - - _
( 7,088,660) ( 7,088,660) ( 1,427,474)
Increase (decrease) in current liabilities,
Accounts payable - trade 74 2,606 ( 183,844)
( 157,755) ( 338,939) 221,313
Accrued payroll 237 2,681 5,872 16,749 25,539 7,426
Payable to other City funds - ( 152,420) - - ( 152,420) 187,994
Payable togovernment • encies -Y 9 ( 957) ( 26,262) ( 27,219) 27,097
Other liabilities ( 11,811) - - 46,818 35,007 ( 23,585)
Other liabilities payable from
restricted assets - - - 1,081,649 1,081,649 722,409
V Total adjustments 93,080 12,972 ( 104,320) ( 3,946,459) ( 3,944,727) 1,249,722
(V Net cash provided by (used in) operating activities 53,279 ( 438,136) 221,728 ( 1,925,363) ( 2,088,492) 3,131,161
Cash flows from noncapital financing activities,
Customer deposits received - - - 51,911 51,911 45,191
Operating grants received - 387,276 - - 387,276 182,846
Operating tranefera in from other funds - 161,210 - - 161,210 213,515
Operating transfers out to other funds - - ( 360,692) ( 272,958) ( 653,650) ( 638,107)
Net cash provided by (used in) noncapital
financingactivities - 548,486
( 380,692) ( 221,047) ( 53,253) ( 196,555)
Cash flows from capital and related financing activities,
Proceed. from eel. of revenue bonds - - - 21,122,066 21,122,066 2,631,401
Acquisition and construction of capital assets - ( 119,555) - ( 16,900,179) ( 17,019,734) ( 4,701,580)
Purchase of water rate study - - - - - ( 19,457)
Litigation proceeds - - - - - 51,980
Principal paid on revenue bond maturities and
construction contracts - - - ( 742,502) ( 742,502)
( 696,951)
Interest paid on revenue bonds and construction contracts - - - ( 582,568) ( 582,568) ( 584,477)
Contributed capital - 7,593 - 42,001 49,594 256,764
Net cash provided by (used for) capital and
related financing activities - ( 111,962) - 2,938,818 2,826,856 ( 3,062,320)
Cash flows from investing activities.
Purchase of investment securities - - - - - ( 2,381,033)
Proceeds from sale and maturities of investment securities - - - 2,452,733 2,452,733 6,191,104
Interest and dividends on investments 22,370 - 151,514 994,109 1,167,993 1,263,719
Net cash provided by investing activities 22,370 - 151,514 3,446,842 3,620,726 5,073,790
Net increase (decrease) in cash and cash equivalent. 75,649 ( 1,612) ( 7,450) 4,239,250 4,305,837 4,946,076
Cash and cash equivalents at beginning of year 219,192 1,863 2,463,348 11,678,958 14,363,361 9,417,285
Cash and cash equivalents at end of year 294 841 251 2 455 898 $15,91D,208 $18,669,198 $14,363,361
Supplemental disclosure of cash flow information,
Capital assets contributed to other City funds $ - $109,241 $ - $ - $ 109,241 $ -
Capital assets received from federal government - 7,593 - - 7,593 43,654
Capital assets received from developers - - - 42,001 42,001 213,110
Wichita I1.
TEXAS la
INTERNAL SERVICE FUND
The Internal service Fund is used to account for the financing of goods
or services provided by one department or agency to other departments
or agencies of the City on a cost-reimbursement basis.
The City's Internal Service Fund accounts for the costs associated with
the operation, maintenance and replacement of the City's vehicle and
equipment fleet. City departments which use the vehicles and equipment
are charged a monthly rental fee based upon actual operating costs
associated with each class of vehicle or equipment.
EXHIBIT H-1
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1991 AND 1990
1991 1990
ASSETS
Current assets:
Cash and cash equivalents $ 420,887 $ 586,563
Inventory 325,313 316,403
Prepaid items 6,890 244
Total current assets 753,090 903,210
Plant and equipment:
Land and betterments 433,658 433,658
Buildings, systems and improvements 4,008,948 4,008,948
Furniture and fixtures 5,974 5,974
Motor vehicles and equipment 17,021,284 16, 157,802
Construction in progress 87,414 -
21,557,278 20,606,382
Less accumulated depreciation ( 10,343,212) ( 9,201,201)
Total plant and equipment 11,214,066 11,405,181
Total assets $11,967, 156 $12,308,391
LIABILITIES AND FUND EQUITY
Current liabilities:
Accounts payable - trade $ 202,649 $ 224,449
Accrued payroll 56, 177 60,715
other liabilities 4, 100 -
Total current liabilities 262,926 285,164
Fund equity:
Contributed capital 12,497,858 12,388,618
Retained deficit ( 793,628) ( 365.391)
Total fund equity 11,704,230 12,023,227
Total liabilities and fund equity $11,967,156 $12,308,391
73
EXHIBIT H-2
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991 1990
Operating revenues:
Rents, concessions and other $5,219,448 $5,301,885
Operating expenses:
Personnel services 1,020,735 1,069,501
Supplies and materials 1, 157, 183 1,082,776
Maintenance and repairs 1, 164,490 1,031,205
Utilities and other services 188,873 202,765
Insurance and contract support 13,336 6,558
Depreciation and amortization 1,905,329 1,778,844
Total operating expenses 5,449,946 5, 171,649
Operating income (loss) ( 230,498) 130,236
Nonoperating revenues (expenses) :
Gain on sale of assets 114,695 106,819
Income (loss) before operating transfers ( 115,803) 237,055
Operating transfers:
Operating transfers out ( 312,434) ( 312,434)
Net loss ( 428,237) ( 75,379)
Retained deficit - beginning ( 365,391) ( 290,012)
Retained deficit - ending ($ 793,628) (S 365,391)
74
EXHIBIT H-3
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1990
1991 1990
Cash flows from operating activities:
Operating income (loss) (S 230,498) $ 130,236
Adjustments to reconcile operating income (loss)
to net cash provided by operating activities:
Depreciation and amortization 1,905,329 1,778,844
(Increase) decrease in current assets:
Inventory ( 8,910) ( 36,019)
Prepaid items ( 6,646) ( 181)
Increase (decrease) in current liabilities:
Accounts payable - trade ( 21,800) ( 46,888)
Accrued payroll ( 4,538) ( 1,396)
Other liabilities 4, 100 -
Total adjustments 1,867,535 1,694,360
Net cash provided by
operating activities 1,637,037 1,824,596
Cash flows from noncapital financing activities:
Operating transfers out to other funds ( 312,434) ( 312,434)
Cash flows from capital and related
financing activities:
Acquisition of capital assets ( 1,643,816) ( 1,569,819)
Proceeds from sale of equipment 153,537 170,756
Contributed capital - 11,912
Net cash used for capital and
related financing activities ( 1,490,279) ( 1,387, 151)
Net increase (decrease) in cash and cash equivalents ( 165,676) 125,011
Cash and cash equivalents at beginning of year 586,563 461,552
Cash and cash equivalents at end of year $ 420,887 $ 586,563
Supplemental disclosure of cash flow information:
Contributed assets from other City funds $ 109,241 $ -
75
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TRUST AND AGENCY FUNDS
Fiduciary Funds account for assets held by the City of Wichita Falls in
a trustee capacity or as an agent for other governmental units and/or
other funds. Trust and Agency Funds include the following:
Employee Benefit Trust
This expendable trust fund is used to account for and administer
group health insurance, which is self-insured by the City, and life
insurance for employees and covered dependents.
Wichita Falls Reinvestment Zone #1
This expendable trust fund is used to account for ad valorem taxes
levied on captured increments of growth in real property values in
a designated zone. The tax revenues derived from this increment are
to be spent on public improvements within this designated zone.
Social security Fund
This agency fund is used to account for the collection and payment
of social security (FICA) taxes.
Payroll Fund
This agency fund is used to account for the collection of payroll
gross amounts from the various City funds and the distribution of
payroll checks to City employees.
Tax Collection Fund
This agency fund is used to account for the collection and payment
of ad valorem taxes to the City's General and Debt Service Funds, the
Wichita Falls Independent School District, and Midwestern State
University.
Accounts Payable Fund
This agency fund is used to account for the collection of monies from
the various City funds, and the payment of those monies to vendors
for goods and services rendered.
Deferred Compensation Fund
This agency fund is used to account for contributions made by the
City and employees to a tax deferred savings plan and the subsequent
disbursement of contributions and interest earned upon retirement,
death or termination of employment.
EXHIBIT I-1
CITY OF WICHITA FALLS, TEXAS
TROST AND AGENCY FONDS
COMBINING HALAWCE SHEET
SEFTEWHEH 30, 1991
WITS COMPARATIVE TOTALS AT SEPTEBBER 30, 1990
Expendable Trust Funds Agency Funds
Employee Wichita Falls
Benefit Reinvestment Social Tax Accounts Deferred Totals
Trust Zone $1 Security Payroll Collection Payable Compensation 1991 1990
ASSETS
Cash and cash equivalents $452,349 $72,885 $ 7 $ 12 $ 38,903 $ - $ - $ 564,156 $ 440,995
Investments - - - - - - 1,333,591 1,333,591 998,555
Receivables:
Taxes and assess meats - 990 - - 2,416,852 - - 2,417,842 2,758,948
Other City funds - - 7 - - - - 7 -
Government agencies 22,634 - - - - - - 22,634 -
Total assets $474,983 $73,875 14 $ 12 $2,455,755 ins.... $1,333,591 $4,338,230 $4,198,498
V
CT
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 62,501 $ - $ 14 $ 5 $ 37,203 $ - $ - $ 99,723 $ 57,176
Payable to other City funds - - - 7 - - - 7 -
Payable to government agencies - - - - 2,416,852 - - 2,416,852 2,756,664
Estimated health claims payable 370,625 - - - - - - 370,625 316,546
Other liabilities 1,433 - - 1,700 1,333,591 1,336,724 1,000,677
Total liabilities 434,559 - 14 12 2,455,755 - 1,333,591 4,223,931 4,131,063
Fund balance:
Designated for subsequent years expenditures 40,424 73,875 - - - - - 114,299 67,435
Total liabilities and fund balance $474,983 $73,875 $ 14 $ 12 $2,455,755 $1,333,591 $4,338,230 $4,198,498
EXHIBIT I-2
CITY OF WICHITA FALLS, TEXAS
EXPENDABLE TRUST FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 1991
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1990
Employee Wichita Falls
Benefit Reinvestment Totals
Trust Zone #1 1991 1990
Revenues:
Ad valorem taxes $ - $32,614 $ 32,614 $ 27,129
Contributions 2,349.638 - 2,349,638 2,336,328
Total revenues 2,349,638 32,614 2,382,252 2,363,457
Expenditures:
Current:
Administrative services
division 2,335,373 15 2,335,388 2,288,248
Excess of revenues over
expenditures 14,265 32,599 46,864 75,209
Fund balance (deficit) -
beginning 26, 159 41,276 67,435 ( 7,774)
Fund balance - ending $ 40,424 $73,875 $ 114,299 $ 67,435
77
EXHIBIT I-3
(Page 1 of 3)
CITY OF WICHITA FALLS, TEXAS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED SEPTEMBER 30, 1991
Balance Balance
October 1, September 30,
1990 Additions Deductions 1991
SOCIAL SECURITY FUND
ASSETS
Cash and cash equivalents $ - $ 3,347,423 $ 3,347,416 $ 7
Receivables:
Other City funds - 3,292,980 3,292,973 7
Government agencies - 118,396 118,396 -
Total assets $ - $ 6,758,799 $ 6,758,785 $ 14
LIABILITIES
Accounts payable - trade $ - $ 3,217,286 $ 3,217,272 $ 14
Payable to other City funds - 3,217,272 3,217,272 -
Total liabilities $ - $ 6,434,558 $ 6,434,544 $ 14
PAYROLL FUND
ASSETS
Cash and cash equivalents $ - $24,124,323 $24, 124,311 $ 12
Receivables:
Other City funds - 23,411,498 23,411,498 -
Government agencies - 712,255 712,255 -
Total assets $ - $48,248,076 $48,248,064 $ 12
LIABILITIES
Accounts payable - trade $ - $ 5 $ - $ 5
Payable to other City funds - 1,673,689 1,673,682 7
Total liabilities $ - $ 1,673,694 $ 1,673,682 $ 12
78
EXHIBIT I-3
(Page 2 of 3)
CITY OF WICHITA FALLS, TEXAS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1991
Balance Balance
October 1, September 30,
1990 Additions Deductions 1991
TAX COLLECTION FUND
ASSETS
Cash and cash equivalents $ 40,287 $38,665,466 $38,666,850 $ 38,903
Receivables:
Taxes and assessments 2,756,664 23,556,775 23,896,587 2,416,852
Other City funds - 1,487 1,487 -
Total assets $2,796,951 $62,223,728 $62,564,924 $2,455,755
LIABILITIES
Accounts payable - trade $ 38,587 $24,979,810 $24,981, 194 $ 37,203
Payable to other City funds - 869, 163 869,163 -
Payable to government agencies 2,756,664 23,556,775 23,896,587 2,416,852
Other liabilities 1,700 - - 1,700
Total liabilities $2,796,951 $49,405,748 $49.746,944 $2,455,755
ACCOUNTS PAYABLE FUND
ASSETS
Cash and cash equivalents $ - $46,577, 171 $46,577,171 $ -
Receivables:
Other City funds - 44,585,646 44,585,646 -
Total assets $ - $91,162,817 $91, 162,817 $ -
LIABILITIES
Payable to other City funds $ - $ 361,476 $ 361.476 $ -
Total liabilities $ - $ 361,476 $ 361,476 $ -
79
EXHIBIT I-3
(Page 3 of 3)
CITY OF WICHITA FALLS, TEXAS
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1991
Balance Balance
October 1, September 30,
1990 Additions Deductions 1991
DEFERRED COMPENSATION FUND
ASSETS
Investments $ 998,555 $ 335,036 $ - $1,333,591
Total assets $ 998,555 $ 335,036 $ - $1,333,591
LIABILITIES
Other liabilities $ 998,555 $ 335,036 $ - $1,333,591
Total liabilities $ 998,555 $ 335,036 $ - $1,333,591
TOTALS - ALL AGENCY FUNDS
ASSETS
Cash and cash equivalents $ 40,287 $112,714,383 $112,715,748 $ 38,922
Investments 998,555 335,036 - 1,333,591
Receivables:
Taxes and assessments 2,756,664 23,556,775 23,896,587 2,416,852
Other City funds - 71,291,611 71,291,604 7
Government agencies - 830,651 830,651 -
Total assets $3,795,506 $208,728,456 $208,734,590 $3,789,372
LIABILITIES
Accounts payable - trade $ 38,587 $ 28, 197, 101 $ 28, 198,466 $ 37,222
Payable to other City funds - 6, 121,600 6,121,593 7
Payable to government agencies 2,756,664 23,556,775 23,896,587 2,416,852
Other liabilities 1,000.255 335,036 - 1,335,291
Total liabilities $3,795,506 $ 58,210,512 $ 58,216,646 $3,789,372
80
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81
EXHIBIT J-2
(Page 1 of 2)
CITY OF WICHITA FALLS, TEXAS
C0lB3INED SCHEDULE OF BONDS PAYABLE
SEPTEMBER 30, 1991
Final Annual Bonds
Interest Rates Issue Maturity Serial Retired or
and (Dates) Date Date Payments Authorized Issued Refunded Outstanding
General obligation bonds:
General Obligation
Refunding Bonds,
Series 1986 5.0, 5.25, 5.5, 6.0, 7/01/86 9/01/06 $ 305,000 (1987) $22,540,000 $22,540,000 $ 2,925,000 $19,615,000
6.25, 6.5, 6.75, 7.0, 605,000 (1988)
7.25, 7.5, 7.65, 7.8, 635,000 (1989)
7.9, 8.0, 8.05, 8.1, 670,000 (1990)
8.15 710,000 (1991)
(3/1, 9/1) 755,000 (1992)
805,000 (1993)
860,000 (1994)
920,000 (1995)
985,000 (1996)
1,060,000 (1997)
1,140,000 (1998)
1,230,000 (1999)
1,330,000 (2000)
1,435,000 (2001)
1,550,000 (2002)
1,670,000 (2003)
Oo 1,605,000 (2004)
N 1,955,000 (2005)
2,115,000 (2006)
Total general obligation
bonds 22,540,000 22,540,000 2,925,000 19,615,000
Revenue bonds:
Water and Sewer System
Refunding Revenue
Bonds, Series 1986 5.0, 5.5, 6.1, 6.4, 7/01/86 8/01/07 $ 395,000 (1987) 24,405,000 24,405,000 2,690,000 21,515,000
6.7, 7.0, 7.2, 7.4, 575,000 (1988)
7.6, 7.8, 7.9, 8.0, 600,000 (1989)
8.05, 8.1, 8.2, 8.25, 640,000 (1990)
8.3 680,000 (1991)
(2/1, 8/1) 725,000 (1992)
775,000 (1993)
835,000 (1994)
895,000 (1995)
960,000 (1996)
1,035,000 (1997)
1,120,000 (1998)
1,210,000 (1999)
1,305,000 (2000)
1,410,000 (2001)
1,525,000 (2002)
1,650,000 (2003)
1,785,000 (2004)
1,930,000 (2005)
2,090,000 (2006)
2,265,000 (2007)
EXHIBIT J-2
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE (CONT'D.)
SEPTEMBER 30, 1991
Final Annual Bonds
Interest Rates Issue Maturity Serial Retired or
and (Dates) Date Date Payments Authorized Issued Refunded Outstanding
Revenue bonds (Cont'd.):
Water and Sewer
Subordinate Lien
Revenue Bonds,
Series 1990-A, 5.5, 7.72, 7.17 7/01/90 8/01/12 300,000 (1993) 26,210,000 23,753,467 - 23,753,467
1990-8 and 1990-C (2/1, 8/1) 315,000 (1994)
335,000 (1995)
350,000 (1996)
380,000 (1997)
390,000 (1998)
415,000 (1999)
440,000 (2000)
465,000 (2001)
485,000 (2002)
CO 515,000 (2003)
545,000 (2004)
575,000 (2005)
610,000 (2006)
640,000 (2007)
3,120,000 (2008)
3,300,000 (2009)
3,465,000 (2010)
3,665,000 (2011)
3,443,467 (2012)
Total revenue bonds 50,615,000 48,158,467 2,890,000 45,268,467
Total all bonds $73,155,000 $70,698,467 $ 5.815,000 $64,883,467
EXHIBIT J-3
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE COVERAGE - REVENUE BONDS
SEPTEMBER 30, 1991
Water and Sewer Revenue Bonds:
Net income (Exhibit G-2) $ 2, 159,679
Add:
Interest expense and paying
agent fees $ 582,568
Depreciation and amortization 1,812,741
Operating transfers out 272,958 2,668,267
Net earnings for determining debt service coverage $ 4,827,946
Total principal and interest requirements $75,008,684
Number of years remaining to pay bonds 21
Average annual principal and interest requirement $ 3,571,842
Average annual debt service coverage 1.35
Maximum principal and interest requirement $ 3,595,338
Maximum debt service coverage 1.34
84
EXHIBIT J-4
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
COMPARATIVE SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCES
SEPTEMBER 30, 1991 AND 1990
1991 1990
General Fixed Assets:
Land and betterments $14,574, 116 $14,473,953
Buildings and improvements 14,394,524 14, 117,353
Machinery and equipment 4,710,692 4,508,340
Furniture and fixtures 421,708 429,794
Motor vehicles and equipment 56,861 56.861
Total general fixed assets $34, 157,901 $33,586,301
Investment in General Fixed Assets.:
From general obligation bonds $ 802,604 $ 734,066
From local revenues and contributions 4,691,551 4, 195,935
From federal government contributions 2,191,932 2, 163,087
From unidentified sources 26,471,814 26,493,213
Total investment in general fixed assets $34, 157.901 $33,586,301
85
EXHIBIT J-5
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY SOURCES
FOR THE YEAR ENDED SEPTEMBER 30, 1991
Motor
Buildings Machinery Furniture Vehicles
Land and and and and and
Betterments Improvements Equipment Fixtures Equipment Total
General fixed assets,
October 1, 1990 $14,473,953 $14,117,353 $4,508,340 $429,794 $56,861 $33,586,301
Additions:
Expenditures from general
obligation bonds 68,538 - - - - 68,538
Expenditures from local
revenues and contributions 25,625 277,171 182,366 10,455 - 495,617
Co
cm Expenditures from federal
government contributions 6,000 - 22,845 - - 28,845
Total additions 100,163 277,171 205,211 10,455 - 593,000
Total 14,574,116 14,394,524 4,713,551 440,249 56,861 34,179,301
Deductions:
Assets sold, traded or
retired - - 2,859 18,541 - 21,400
General fixed assets,
September 30, 1991 $14,574,116 $14,394,524 $4,710,692 $421,708 $56,861 $34,157,901
EXHIBIT J-6
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
SCHEDULE OF GENERAL FIB ASSETS - BY FUNCTION AND ACTIVITY
SEPTEMBER 30, 1991
Motor
Buildings Machinery Furniture Vehicles
Land and and and and and
Betterments Improvements Equipment Fixtures Equipment Total
Administrative services division:
Mayor and City Council $ - $ - $ 7,645 $ 5,218 $ - $ 12,863
General Administration 1,376,335 586,872 137,384 45,421 30,625 2,176,637
Legal and City Clerk - - 11,633 10,555 - 22,188
Personnel/Risk Management - - 466,756 13,587 - 480,343
Data Processing - - 707,726 14,604 - 722,330
Martin Luther Ring Center - 349,839 7,654 15,944 - 373,437
Library 610,870 307,059 35,886 45,085 - 998,900
Municipal Court 230,000 312,788 49,274 13,102 - 605,164
Farmer's Market - - - 946 - 946
Midtown Manor 233,798 184,780 - - - 418,578
Auditorium/Activity Center 434,422 5,940,057 73,330 64,969 - 6,512,778
Housing 78,358 6,269 337 - - 84,964
Building Maintenance - - 4,803 - - 4,803
Total administrative services division 2,963,783 7,687,664 1,502,428 229,431 30,625 12,413,931
CO Police division:
V Police 1,095,114 1,330,593 1,801,284 72,306 13,030 4,312,327
Fire division:
Fire 188,851 1,519,590 481,269 41,960 - 2,231,670
Parke and recreation division:
Parks 9,893,720 2,709,633 226,673 8,808 - 12,838,834
Golf 112,539 27,544 8,219 - - 148,302
Cemetery 20,212 - 12,828 - - 33,040
Total parks and recreation division 10,026,471 2,737,177 247,720 8,808 - 13,020,176
Accounting/finance division:
Accounting/finance - - 24,731 10,370 - 35,101
Tax - - 11,641 2,429 - 14,070
Total accounting/finance division - - 36,372 12,799 - 49,171
Planning division:
Planning - - 76,091 10,750 11,796 98,637
Public works division:
Engineering 111,120 19,087 170,934 11,951 1,410 314,502
Inspection 13,059 - 45,118 3,861 - 62,038
Street Maintenance 29,937 86,373 81,632 5,298 - 203,240
Total public works division 154,116 105,460 297,684 21,110 1,410 579,780
Health division:
Health 111,231 976,775 207,807 18,218 - 1,314,031
Traffic and transportation division:
Traffic Engineering 34,550 37,265 60,037 6,326 - 138,178
Total general fixed assets $14,574,116 $14,394,.524 $4,710,692 $421,708 $56,861 $39,157,901
EXHIBIT J-7
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY
FOR THE YEAR ENDED SEPTEMBER 30, 1991
Beginning Ending
Balance Transfers Balance
10/1/90 Additions Deletions In (Outl 9/30/91
Administrative services division:
Mayor and City Council $ 12,863 $ - $ - $ - $ 12,863
General Administration 1,924,620 252,017 - - 2,176,637
Legal and City Clerk 22,188 - - - 22,188
Personnel/Risk Management 112,865 4,498 - 362,980 480,343
Data Processing 672,111 50,219 - - 722,330
Martin Luther King Center 372,042 1,395 - - 373,437
Library 973,010 35,989 878 ( 9,221) 998,900
Municipal Court 605,164 - - - 605,164
Farmer's Market 946 - - - 946
Midtown Manor 418,578 - - - 418,578
Auditorium/Activity Center 6,513,997 6,144 7,363 - 6,512,778
Housing 84,964 - - - 84,964
Building Maintenance - 4,803 - - 4,803
Total administrative
services division 11,713,348 355,065 8,241 353,759 12,413,931
Police division:
Police 4,594,478 78,206 1,987 ( 358,370) 4,312,327
Fire division:
Fire 2,228,052 7,945 4,327 - 2,231,670
Parks and recreation division:
Parks 12,725,451 113,383 - - 12,838,834
Golf 148,302 - - - 148,302
Cemetery 28,040 5,000 - - 33,040
Total parks and recreation
division 12,901,793 118,383 - - 13,020,176
Accounting/finance division:
Accounting/finance 34,457 - 3,967 4,611 35,101
Tax 14,070 - -
14,070
Total accounting/finance
division 48,527 - 3,967 4,611 49,171
Planning division:
Planning 97,300 4,215 2,878 - 98,637
Public works division:
Engineering 314,277 - - 225 314,502
Inspection 62,263 - - 62,038
Street Maintenance 197,583 5,657 - ( - 203,240
Total public works division 574,123 5,657 - - 579,780
Health division:
Health 1,299,422 14,609 - - 1,314,031
Traffic and transportation division:
Traffic Engineering 129,258 8,920 - - 138,178
Total general fixed assets S33,586,301 $ 593,000 $ 21,400 $ - $34,157,901
88
EXHIBIT J-8
CITY OF WICHITA FALLS, TEXAS
AIRPORT FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1991
Balance Balance
10/1/90 Additions Deletions 9/30/91
Plant and Eauipment:
Land and betterments $1,468, 175 $ - $ - $1,468, 175
Buildings and improvements 1,451,662 - 1,451,662
Machinery and equipment 16,542 - - 16,542
Furniture and fixtures 12,477 - - 12,477
Total plant and equipment 2,948,856 - - 2,948,856
Accumulated Depreciation:
Land and betterments 638,246 58,892 - 697, 138
Buildings and improvements 513,599 28,990 - 542,589
Machinery and equipment 9,987 1, 159 - 11,146
Furniture and fixtures 9, 142 788 - 9,930
Total accumulated
depreciation 1, 170,974 89,829 - 1,260,803
Net plant and equipment $1,777,882 ($ 89,829) $ - $1,688,053
89
EXHIBIT J-9
CITY OF WICHITA FALLS, TEXAS
TRANSIT FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1991
Balance Balance
10/1/90 Additions Deletions 9/30/91
Plant and Equipment:
Land and betterments $ 61,925 $ - $ - $ 61,925
Buildings and improvements 626,867 - - 626,867
Machinery and equipment 67,822 10,315 - 78, 137
Furniture and fixtures 6, 128 - - 6, 128
Total plant and equipment 762,742 10,315 - 773,057
Accumulated Depreciation:
Buildings and improvements 52,669 7,988 - 60,657
Machinery and equipment 39,494 6,206 - 45,700
Furniture and fixtures 2,833 389 - 3,222
Total accumulated
depreciation 94,996 14,583 - 109,579
Net plant and equipment $ 667,746 ($ 4 ) $ - $ 663,478
90
EXHIBIT J-10
CITY OF WICHITA FALLS, TEXAS
SANITATION FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1991
Balance Balance
10/1/90 Additions Deletions 9/30/91
Plant and Equipment:
Land and betterments $ 653,692 $ - $ - $ 653,692
Buildings and improvements 2,298,370 - - 2,298,370
Machinery and equipment 92,206 - - 92,206
Furniture and fixtures 4,750 - - 4,750
Total plant and equipment 3,049,018 - - 3,049,018
Accumulated Depreciation:
Land and betterments 16,966 1,805 - 18,771
Buildings and improvements 379,038 48,854 - 427,892
Machinery and equipment 56,210 8,270 - 64,480
Furniture and fixtures 3,863 151 - 4,014
Total accumulated
depreciation 456,077 59,080 - 515, 157
Net plant and equipment $2,592,941 ($ 59,080) $ - $2,533,861
91
EXHIBIT J-11
CITY OF WICHITA FALLS, TEXAS
WATER AND SEWER FOND
PLANT, EQOIPIONET AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1991
Plant and Equipment Accumulated Depreciation Net Plant
Balance Transfers Balance Balance Balance and
10/1/90 Additions Deletions In (Out) 9/30/91 10/1/90 Additions Deletions 9/30/91 Equipment
Water Department:
Land and betterments $ 22,329,674 $ - $ - $ - $ 22,329,674 $ 4,797,736 $ 229,639 $ - $ 5,027,375 $17,302,299
Buildings, systems and improvements 48,062,673 150,504 - - 48,213,177 15,638,253 881,965 - 16,520,218 31,692,959
Machinery and equipment 2,350,784 20,720 - - 2,371,504 1,417,015 45,178 - 1,462,193 909,311
Furniture and fixtures 19,059 - - - 19,059 14,792 1,150 - 15,942 3,117
Motor vehicle■ 3,670 - - - 3,670 3,670 - - 3,670 -
Construction in progress - 25,573 - - 25,573 - - - - 25,573
Total Water Department $ 72,765,860 $ 196,797 $ - $ - $ 72,962,657 $21,871,466 $1,157,932 $ - $23,029,398 $49,933,259
Sewer Department:
Land and betterments $ 85,214 $ - $ - $ - $ 85,214 $ - $ - $ - $ - $ 85,214
QD Buildings, systems and improvements 22,451,496 67,806 - - 22,519,302 10,793,803 606,819 - 11,400,622 11,118,680
N Machinery and equipment 224,284 22,252 - - 246,536 190,977 8,290 - 199,267 47,269
Furniture and fixtures 2,448 - - - 2,448 1,098 108 - 1,206 1,242
Construction in progress 5,650,573 16,613,324 - - 22,263,897 - - - - 22,263,897
Total Sewer Department $ 28,414,015 $16,703,382 $ - $ - $ 45,117,397 $10,985,878 $ 615,217 $ - $11,601,095 $33,516,302
Combined Water and Sewer Departments:
Land and betterments $ 22,414,888 $ - $ - $ - $ 22,414,888 $ 4,797,736 $ 229,639 $ - $ 5,027,375 $17,387,513
Buildings, systems and improvements 70,514,169 218,310 - - 70,732,479 26,432,056 1,488,784 - 27,920,840 42,811,639
Machinery and equipment 2,575,068 42,972 - - 2,618,040 1,607,992 53,468 - 1,661,460 956,580
Furniture and fixtures 21,507 - - - 21,507 15,890 1,258 - 17,148 4,359
Motor vehicles 3,670 - - - 3,670 3,670 - - 3,670 -
Construction in progress 5,650,573 16,638,897 - - 22,289,470 - - - - 22,289,470
Total Combined Water and
Sewer Departments $101,179,875 $16,900,179 $ - $118,080,054 $32,857,344 $1,773,149 $ - $34,630,493 $83,449,561
EXHIBIT J-12
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1991
Balance Balance
10/1/90 Additions Deletions 9/30/91
Plant and Eauipment:
' Land and betterments $ 433,658 $ - $ - $ 433,658
Buildings and improvements 4,008,948 - - 4,008,948
Furniture and fixtures 5,974 - - 5,974
Motor vehicles and equipment 16, 157,802 1,665,642 802, 160 17,021,284
Construction in progress - 87,414 - 87,414
Total plant and equipment 20,606,382 1,753,056 802, 160 21,557,278
Accumulated Depreciation:
Buildings and improvements 559,426 80, 179 - 639,605
Furniture and fixtures 4,204 198 - 4,402
Motor vehicles and equipment 8,637,571 1,824,952 763,318 9,699,205
Total accumulated
depreciation 9,201,201 1,905,329 763,318 10,343,212
Net plant and equipment $11,405, 181 ($ 152,273) $ 38,842 $11,214,066
93
Wichita 1 ,
TEXAS '
Rom: ti,,,<,.:..
•
xy
STATISTICAL SECTION
(UNAUDITED)
Wichita
TEXAS\
EXHIBIT K-1
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION (GENERAL FUND ONLY) -
LAST TEN FISCAL YEARS (UNAUDITED)
Finance
Fiscal Administrative Parks and and Public Traffic and
Year Services Police Fire Recreation Accounting Planning Works Health Transportation Total
1981-1982 $4,546,379 $5,015,271 $3,341,335 $2,911,708 $577,133 $1,125,120 $8,524,692 $1,482,774 $1,562,567 $29,086,979
1982-1983 5,001,439 5,685,793 3,883,766 2,584,235 563,936 770,007 7,815,997 1,320,500 1,502,279 29,127,952
1983-1984 7,280,506 6,169,438 4,321,815 2,661,586 480,639 965,744 6,711,669 1,432,771 2,037,931 32,062,099
1984-1985 5,569,049 6,357,917 4,923,585 2,566,444 503,270 339,011 4,751,428 1,655,368 1,381,583 28,047,655
1985-1986 4,895,221 7,422,813 4,601,651 2,396,365 525,034 405,519 5,220,861 1,732,984 1,276,928 28,477,376
qO
.P. 1986-1987 4,972,244 7,242,687 4,844,086 2,928,346 469,576 269,662 5,233,671 1,939,250 1,296,474 29,195,996
1987-1988 4,548,054 7,578,322 5,096,563 2,936,646 432,777 322,779 3,837,350 1,752,420 1,217,950 27,722,861
1988-1989 4,514,946 7,677,500 5,240,285 2,478,736 418,733 336,887 4,232,744 1,830,962 1,249,506 27,980,301
1989-1990 4,655,580 8,359,078 5,360,935 2,388,480 428,310 326,867 4,224,499 1,933,354 1,197,787 28,874,890
1990-1991 5,037,109 8,552,989 5,393,852 2,433,579 417,460 269,972 4,965,920 1,955,763 1,181,922 30,208,566
EXHIBIT K-2
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL REVENUES BY SOURCE (GENERAL FUND ONLY) -
LAST TEN FISCAL YEARS (UNAUDITED)
Charges Licenses
Fiscal for and Intergovernmental Miscellaneous
Year Taxes Services Permits Fines Revenue Revenue Total
1981-1982 $16,477,646 $4,272,199 $234,446 $689,301 $1,543,277 $1,621,773 $24,838,642
1982-1983 18,023,712 4,354,410 284,438 808,502 683,388 1,292,813 25,447,263
1983-1984 20,176,122 5,449,200 342,431 753,274 562,519 1,418,298 28,701,844
`0 1984-1985 21,328,803 1,904,610 463,613 815,148 443,014 1,637,783 26,592,971
to
1985-1986 21,943,688 1,117,348 418,823 836,851 479,325 1,348,003 26,144,038
1986-1987 21,498,718 1,164,667 353,679 840,467 641,949 1,080,753 25,580,233
1987-1988 22,195,718 1,295,629 598,915 885,805 704,187 1,346,153 27,026,407
1988-1989 23,035,386 1,144,329 558,083 834,328 791,383 1,597,558 27,961,067
1989-1990 23,736,091 1,111,868 562,626 900,404 779,466 1,453,043 28,543,498
1990-1991 23,601,388 1,068,713 546,644 789,439 1,225,504 1,255,215 28,486,903
EXHIBIT K-3
CITY OF WICHITA FALLS, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS -
LAST TEN FISCAL YEARS (UNAUDITED)
Total
Collections
Percent Delinquent as Percent
Fiscal Total Current Tax of Levy Tax Total Tax of Current
Year Tax Levy Collections Collected Collections Collections Levy
1981-1982 $10,896,934 $10,508,375 96.43% $181,577 $10,689,952 98.10%
1982-1983 12,490,900 11,900,747 95.28% 249,522 12,150,269 97.28%
1983-1984 14,050,573 13,524,855 96.26% 301,973 13,826,828 98.41%
1984-1985 14,199,969 13,722,790 96.64% 497,660 14,220,450 100.14%
1985-1986 13,940,609 13,479,038 96.69% 399,623 13,878,661 99.56%
1986-1987 14,401,856 13,743,656 95.43% 378,280 14,121,936 98.06%
1987-1988 14,508,804 13,998,858 96.49% 487,072 14,485,930 99.84%
1988-1989 14,664,571 14,123,525 96.31% 387,088 14,510,613 98.95%
1989-1990 14,896,248 14,515,449 97.44% 431,755 14,947,204 100.34%
1990-1991 14,605,841 14,242,059 97.51% 332,467 14,574,526 99.79%
96
EXHIBIT K-4
CITY OF WICHITA FALLS, TEXAS
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY -
LAST TEN FISCAL YEARS (UNAUDITED)
Ratio of Total
Assessed
Real Property Personal Property Total to Total
Fiscal Assessed Estimated Assessed Estimated Assessed Estimated Estimated
Year Value Actual Value Value Actual Value Value Actual Value Actual Value
1981-1982 $1,068,352,963 $1,068,352,963 $384,544,358 $384,544,358 $1,452,897,321 $1,452,897,321 100.00%
1982-1983 1,324,181,729 1,324,181,729 478,256,955 478,256,955 1,802,438,684 1,802,438,684 100.00%
1983-1984 1,432,631,714 1,432,631,714 449,813,802 449,813,802 1,882,445,516 1,882,445,516 100.00%
1984-1985 1,587,368,510 1,587,368,510 468,310,782 468,310,782 2,055,679,292 2,055,679,292 100.00%
1985-1986 1,737,427,089 1,737,427,089 489,263,121 489,263,121 2,226,690,210 2,226,690,210 100.00%
V
1986-1987 1,809,871,886 1,809,871,886 505,911,411 505,911,411 2,315,783,297 2,315,783,297 100.00%
1987-1988 1,789,937,697 1,789,937,697 484,882,457 484,882,457 2,274,820,154 2,274,820,154 100.00%
1966-1989 1,789,389,697 1,789,389,697 509,853,169 509,853,169 2,299,242,866 2,299,242,866 100.00%
1989-1990 1,789,161,491 1,789,161,491 509,996,744 509,996,744 2,299,158,235 2,299,158,235 100.00%
1990-1991 1,764,512,712 1,764,512,712 469,822,988 489,822,988 2,254,335,700 2,254,335,700 100.00%
EXHIBIT K-5
CITY OF WICHITA FALLS, TEXAS
PROPERTY TAX RATES AND TAX LEVIES - ALL OVERLAPPING GOVERNMENTS -
LAST TEN FISCAL YEARS (UNAUDITED)
Wichita
Fiscal City of Falls City View Wichita
Year Wichita Falls I.S.D. (1) I.S.D. (2) County Total
Tax Rates Per $100 Valuation
1981-1982 $ .75 $ .73 $1.07 $ .31 $2.86
1982-1983 .69 .69 .69 .22 2.29
1983-1984 .75 .74 .67 .25 2.41
1984-1985 .69 .74 .58 .25 2.26
1985-1986 .63 .87 .64 .24 2.38
1986-1987 .62 .82 .75 .24 2.43
1987-1988 .64 .82 .72 .25 2.43
1988-1989 .64 .85 .81 .27 2.57
1989-1990 .65 .92 .84 .28 2.69
1990-1991 .65 1.00 .98 .29 2.92
Tax Levies
1981-1982 $10,896,934 $10,427,882 $402,523 $5,320,596 $27,047,935
1982-1983 12,490,900 12,233,330 488,457 6,387,683 31,600,370
1983-1984 14,050,573 13,541,058 487,548 7,254,768 35,333,947
1984-1985 14,199,969 14,642,156 479,099 7,684,051 37,005,275
1985-1986 13,940,609 18,631,889 538,827 7,746,208 40,857,533
1986-1987 14,401,856 18,270,216 669,201 7,898,758 41,240,031
1987-1988 14,508,804 18,063,909 660,750 8,175,763 41,409,226
1988-1989 14,664,571 19,273,667 708,713 8,900,124 43,547,075
1989-1990 14,896,248 20,682,300 776,012 9,426,139 45,780,699
1990-1991 14,605,841 22,299,411 886,306 9,461,163 47,252,721
Notes:
(1) Wichita Falls Independent School District - 98.49% in Wichita Falls city limits
(2) City View Independent School District - 75.25% in Wichita Falls city limits
98
EXHIBIT K-6
CITY OF WICHITA FALLS, TEXAS
TEN LARGEST TAXPAYERS (UNAUDITED)
SEPTEMBER 30, 1991
Percentage
January 1, 1990 of Total
Assessed Assessed
Taxpayer Type of Business Valuation Valuation
Southwestern Bell Telephone Utility $ 45,736,208 2.03%
Texas Utilities Electric Utility 36,523,248 1.62%
JMB Group Trust III Shopping Center 31,657,090 1.40%
Sprague Electric Manufacturing 19,045,092 .84%
Panhandle Manufacturing Manufacturing 11,552,565 .51%
Siemens Manufacturing 10,055,083 .45%
Sam's Wholesale Club Retail Store 8,313,291 .37%
Wichita Falls Clinic Medical Center 8,226,503 .36%
Wichita Falls Hotel Hotel 7,491, 108 .33%
Partnership
Lone Star Gas (Enserch) Natural Gas Utility 6,612,415 .29%
Totals $185,212,603 8.20%
99
EXHIBIT K-7
CITY OF WICHITA FALLS, TEXAS
SPECIAL ASSESSMENT COLLECTIONS (CAPITAL IMPROVEMENT ASSESSMENTS FUND) -
LAST TEN FISCAL YEARS (UNAUDITED)
Current Current Ratio of
Fiscal Assessments Assessments Collections
Year Due Collected to Amount Due
1981-1982 $625,599 $323,627 51.73%
1982-1983 657,912 107,106 16.28%
1983-1984 656,093 216,304 32.97%
1984-1985 539,756 109,799 20.34%
1985-1986 499,695 36,960 7.40%
1986-1987 475, 172 20,465 4.31%
1987-1988 454,730 20,530 4.51%
1988-1989 446,531 8,199 1.84%
1989-1990 438,376 8, 155 1.86%
1990-1991 362,985 8, 112 2.23%
100
EXHIBIT K-8
CITY OF WICHITA FALLS, TEXAS
COMPUTATION OF LEGAL DEBT MARGIN (UNAUDITED)
SEPTEMBER 30, 1991
Total assessed property value per 1990 tax roll $2,254,335,700
Maximum tax levy* $2.25/$100
Current tax levy for 1990 tax year .6479/$100
Maximum tax levy in excess of 1990 tax levy 1.6021/$100
Total legal debt margin $ 36, 116.712
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 1990 tax rate is $ .6479
per $100 assessed valuation.
* Maximum tax levy established by City Charter
101
EXHIBIT K-9
CITY OF WICHITA FALLS, TEXAS
RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE
AND NET GENERAL BONDED DEBT PER CAPITA - LAST TEN FISCAL YEARS (UNAUDITED)
Ratio of
Net General
Gross Less Debt Bonded Debt Net General
Fiscal Assessed General Service Net General To Assessed Bonded Debt
Year Population Value Bonded Debt Funds Bonded Debt Value Per Capita
1981-1982 96,500 $1,452,897,321 $19,153,000 $633,207 $18,519,793 1.27% $192
1982-1983 97,125 1,802,438,684 17,395,000 705,727 16,689,273 .93% 172
1983-1984 104,500 1,882,445,516 15,375,000 929,646 14,445,354 .77% 138
1984-1985 100,200 2,055,679,292 21,870,000 235,914 21,634,086 1.05% 216
1985-1986 101,300 2,226,690,210 22,540,000 245,043 22,294,957 1.00% 220
r,
0
^' 1986-1987 99,000 2,315,783,297 22,235,000 269,301 21,965,699 .95% 222
1987-1988 98,500 2,274,820,154 21,630,000 400,423 21,229,577 .93% 216
1988-1989 95,000 2,299,242,866 20,995,000 584,800 20,410,200 .89% 215
1989-1990 96,259 2,299,158,235 20,325,000 694,935 19,630,065 .85% 204
1990-1991 96,500 2,254,335,700 19,615,000 581,545 19,033,455 .84% 197
EXHIBIT K-10
CITY OF WICHITA FALLS, TEXAS
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO
TOTAL GENERAL EXPENDITURES - LAST TEN FISCAL YEARS (UNAUDITED)
Ratio of
Total Debt Service
Fiscal Total Debt General to General
Year Principal Interest Service Expenditures Expenditures
1981-1982 $2,801,000 $ 596,285 $3,397,285 $29,086,979 11.68%
1982-1983 1,758,000 1,480,829 3,238,829 29,127,952 11.12%
1983-1984 2,020,000 1,365,442 3,385,442 32,062,099 10.56%
1984-1985 1,855,000 1,242,282 3,097,282 28,047,655 11.04%
1985-1986 - 902,453 902,453 28,477,376 3.17%
1986-1987 305,000 1,980,711 2,285,711 29,195,996 7.83%
1987-1988 605,000 1,682,502 2,287,502 27,722,861 8.25%
1988-1989 635,000 1,650,740 2,285,740 27,980,301 8.17%
1989-1990 670,000 1,615,815 2,285,815 28,874,890 7.92%
1990-1991 710,000 1,575,615 2,285,615 30,208,566 7.56%
103
EXHIBIT K-11
CITY OF WICHITA FALLS, TEXAS
COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT (UNAUDITED)
SEPTEMBER 30, 1991
Percentage Amount
Gross Applicable Applicable
Taxing Bonded Debt to City of to City of
Jurisdiction Outstanding (1) Wichita Falls (2) Wichita Falls
City of Wichita Falls $64,883,467 100.00% $64,883,467
Wichita Falls Independent
school District 16,900,000 98.49% 16,644,810
Wichita County 1,525,000 77.23% 1, 177,757
city View Independent
School District 620,000 75.25% 466,550
Burkburnett Independent
School District 7,985,000 1.16% 92,626
Total direct and
overlapping bonded debt $91,913,467 $83,265,210
Sources:
(1) Listed taxing jurisdictions
(2) Herbert R. Smith, Inc.
104
EXHIBIT K-12
CITY OF WICHITA FALLS, TEXAS
REVENUE BOND COVERAGE - WATER AND SEWER REVENUE BONDS -
LAST TEN FISCAL YEARS (UNAUDITED)
Net Revenue
Fiscal Gross Operating Available For Debt Service Reauirement
Year Revenues (11 Expenses (21 Debt Service Principal Interest Total Coverage
1981-1982 $ 8,404,142 $5,630,728 $2,773,414 $790,000 $ 339,840 $1,129,840 2.45
1982-1983 9,238,268 5,995,783 3,242,485 900,000 540,487 1,440,487 2.25
1983-1984 11,035,301 6,190,623 4,844,678 900,000 494,164 1,394,164 3.47
--' 1984-1985 12,261,580 7,022,561 5,239,019 - 1,470,435 1,470,435 3.56
0
ul
1985-1986 13,114,194 8,525,382 4,588,812 440,000 1,932,837 2,372,837 1.93
1986-1987 12,838,637 8,607,888 4,230,749 395,000 2,061,283 2,456,283 1.72
1987-1988 14,232,676 8,427,051 5,805,625 575,000 1,882,973 2,457,973 2.36
1988-1989 13,596,068 7,728,457 5,867,611 600,000 1,851,348 2,451,348 2.39
1989-1990 13,841,627 8,674,495 5,167,132 640,000 1,814,748 2,454,748 2.10
1990-1991 14,151,380 9,323,434 4,827,946 680,000 1,773,788 2,453,788 1.97
Notes:
(1) Includes operating revenues and interest income of the Water and Sewer Fund.
(2) Includes operating expenses exclusive of depreciation and amortization of the Water and Sewer Fund.
EXHIBIT K-13
CITY OF WICHITA FALLS, TEXAS
DEMOGRAPHIC STATISTICS -
LAST TEN FISCAL YEARS (UNAUDITED)
Median
Fiscal Estimated Household Education School Unemployment
Year Population ( 1) Income (2) Level (3) Enrollment (3) Rate (4)
1981-1982 96,500 $19,502 13.1 14,256 6.4%
1982-1983 97, 125 20,096 13.2 14,184 7. 1%
1983-1984 104,500 20,423 13.3 14,428 4.4%
1984-1985 100,200 22,903 13.3 14,310 5.9%
1985-1986 101,300 20,805 13.2 14,796 8.4%
1986-1987 99,000 20,871 13.2 15,055 7.8%
1987-1988 98,500 20,723 13. 1 14,950 6.3%
1988-1989 95,000 18,754 13.1 14,889 5.7%
1989-1990 96,259 20,015 13.1 14,867 6.6%
1990-1991 96,500 20,814 13.1 15, 135 6.4%
Sources:
(1) City of Wichita Falls Planning Department for all years except 1989-1990 from
U.S. Bureau of Census
(2) Sales & Marketing Management magazine
(3) Wichita Falls I.S.D. - Educational level is grade equivalent of graduating
senior
(4) Texas Employment Commission
106
EXHIBIT K-14
CITY OF WICHITA FALLS, TEXAS
PROPERTY VALUE, BUILDING PERMITS AND BANK DEPOSITS -
LAST TEN FISCAL YEARS (UNAUDITED)
Fiscal Property Building Bank
Year Value (1) Permits (2) Deposits (3)
1981-1982 $1,452,897,321 $56,424,318 $ 961, 142,020
1982-1983 1,802,438,684 73,235,522 972,585,375
1983-1984 1,882,445,516 45,959,328 1,011,202,125
1984-1985 2,055,679,292 68,942,474 1,020,034,687
1985-1986 2,226,690,210 40,951,045 1,086,899,487
1986-1987 2,315,783,297 31, 161,722 1, 107,880,373
1987-1988 2,274,820, 154 39,510,717 1,075,698,257
1988-1989 2,299,242,866 34,316,901 1,070,274,273
1989-1990 2,299,158,235 59,603,631
1990-1991 2,254,335,700 36,283,910
Sources:
(1) City of Wichita Falls Tax Department
(2) City of Wichita Falls Planning Department
(3) Wichita Falls Times/Record News
* Local branches of NCNB and Bank One are not required, nor have they
chosen, to release deposit information on individual branches. Therefore,
total bank deposit information is not available for these years.
107
EXHIBIT K-15
CITY OF WICHITA FALLS, TEXAS
MISCELLANEOUS STATISTICAL DATA (UNAUDITED)
SEPTEMBER 30, 1991
Date of incorporation 1889
Form of government Council - Manager
Area 53 square miles
Miles of streets 575
Number of street lights 6,674
Fire protection:
Number of stations 9
Number of firemen and officers 154
Police protection:
Number of stations 1
Number of police officers 165
Municipal water department:
Number of consumers - active 31,582
Average daily consumption 21,550,000 gallons treated water
Miles of water mains 800
sewers:
Number of customers - active 28,733
Miles of sanitary sewers 600
Miles of storm sewers 200
Building permits issued:
Number issued 4,853
Amount issued $36,283,910
Recreation and culture:
Number of parks 41 with 1, 104 acres
Number of golf courses 4
Number of libraries 1
Number of volumes 108,347
Employees - full-time 1,010
108
EXHIBIT K-16
(Page 1 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED)
SEPTEMBER 30, 1991
Insurance
Code
A Policy: Building and Contents
Company: Fireman's Fund
Policy No. : XFX66170 02
Policy No. : Extra Expense XFX66170 01
Policy Period: October 1, 1991 to October 1, 1992
Perils: Fire, extended coverage, vandalism
and malicious mischief, including
difference in condition
Coverages: $37,276,795 Building and Contents
$ 50,000 Extra Expense
Deductible: $ 100,000
Coinsurance: Agreed Value, Replacement Cost
Premium: $18,645
B Policy: Boiler and Machinery
Company: Fidelity & Casualty Insurance Company
of New York
Policy No. : BM D 2 78 64 46
Policy Period: October 1, 1991 to October 1, 1992
Perils: Comprehensive Blanket
Coverage: $5,000,000 Per Occurrence
Deductible: $2,500
Coinsurance N/A
Premium: $10,545
C Policy: Electronic Data Processing Equipment
Company: Fidelity & Casualty Insurance Company
of New York
Binder No. : WICFPO-3 V
Binder Period: October 1, 1991 to January 1, 1992
Perils: All Risks
Coverage: $633,200
Deductible: $ 500
coinsurance: $ 100
Premium: $ 1,540
Policy: Electronic Data Processing Equipment
Company: Great American Insurance Co.
Binder No: 1
Binder Period: January 1, 1992 to October 1, 1992
Perils: All Risks
Coverage: $1,055,227
Deductible: $ 3,000
Coinsurance: N/A
Premium: $ 3,504
109
EXHIBIT K-16
(Page 2 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D. )
SEPTEMBER 30, 1991
Insurance
Code
D Policy: Excess Worker's Compensation and
Employer's Liability
Company: Aetna Insurance Company
Policy No. : 18 XC 43 SCA
Policy Period: October 1, 1991 to October 1, 1992
Perils: Worker's Compensation - Employer's
Liability
Coverage: Statutory Limits Worker's Compensation
$1,000,000 Employer's Liability
Deductible: $500,000
Coinsurance: N/A
Premium: $46,524
E Policy: Airport Liability
Company: Sedgwick James of Texas, Inc.
Policy No. : 636GLA45-33595
Policy Period: October 1, 1991 to October 1, 1992
Perils: Owner's, Landlord, and Tenants' Liability
Coverage: $1,000,000 CSL
Deductible: None
Coinsurance: N/A
Premium: $ 1,825
F Policy: Public Official Bond
Company: Fidelity & Deposit Company
Bond No. : FD-09688496
Bond Period: June 27, 1991 to June 27, 1992
Insured: City Manager - Jim Berzina
Coverage: $25,000
Premium: $ 88
G Policy: Public Official Bond
Company: Fidelity & Deposit Company
Bond No. : FD-30237391
Bond Period: August 1, 1991 to August 1, 1992
Insured: Purchasing Agent - Peggy Gahagan
Coverage: $2,500
Premium: $ 50
110
EXHIBIT K-16
(Page 3 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1991
Insurance
Code
H Policy: Blanket Employees' Dishonesty - Theft,
Disappearance Coverage
Company: Fidelity & Deposit Company
Bond No. : FD-02897925
Bond Period: January 15, 1992 to January 15, 1993
Insured: Public Employee Blanket - Water office
Manager
Coverages: $10,000 Inside Premises
$ 3,000 Outside Premises
$10,000 Per Employee
$15,000 Excess Limit (Water office Manager)
Premium: $ 1,667
Policy: Public official Bond
Company: Fidelity & Deposit Company
Bond No. : FD-05679944
Bond Period: January 5, 1992 to January 5, 1993
Insured: City Clerk - Wilma Thomas
Coverage: $25,000
Premium: $ 88
J Policy: Public Official Bond
Company: Aetna Insurance Company
Bond No. : S100138239BCA
Bond Period: April 22, 1991 to April 22, 1992
Insured: Tax Assessor/Collector - Art DeWitt
Coverage: $50,000
Premium: $ 250
K Policy: Public official Bond
Company: Aetna Insurance Company
Bond No. : s100084654BCA
Bond Period: August 6, 1991 to August 6, 1992
Insured: Director of Public Works - George Bonnett
Coverage: $2,500
Premium: $ 50
111
EXHIBIT K-16
(Page 4 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1991
Insurance
Code
L Policy: Public Official Bond
Company: Aetna Insurance Company
Bond No. : S100179467BCA
Bond Period: July 16, 1991 to July 16, 1992
Insured: Municipal Court Administrator -
Don Vanadore
Coverage: $2,500
Premium: $ 50
Note: An application has been sub-
mitted for John K. Osoinach,
who currently holds the
position of Municipal Court
Administrator. The existing
bond will be cancelled and a
new bond will be issued for
Mr. Osoinach. The coverage
will remain the same.
M Policy: Public Official Bond
company: Aetna Insurance Company
Bond No. : S18072205BCA
Bond Period: March 5, 1991 to March 5, 1992
Insured: Director of Finance - Fred Werner
Coverage: $25,000
Premium: $ 88
N Policy: Public Official Bond
Company: Aetna Insurance Company
Bond No. : S100648903BCA
Bond Period: May 21, 1991 to May 21, 1992
Insured: Municipal Court Judge - Larry Gillen
Coverage: $2,500
Premium: $ 50
0 Policy: Health Insurance
Company: Coordinated Benefits Systems
Policy No. : City of Wichita Falls Employee
Benefits Trust
Policy Period: October 1, 1991 through September 30, 1992
Perils: Illness and Accidental Injury
(Non-work Related)
Coverage: $1,000,000 Lifetime Maximum
Deductible: $250 Annually Per Person (Maximum 3
Family Members)
Coinsurance: Coinsurance coverage begins when a limit of
20% reaches $3,500 yearly, then insurance
company pays 100% of eligible expenses.
Premium: Annual Estimate $1,900,000
112
EXHIBIT K-16
(Page 5 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1991
Insurance
Code
P Policy: Dental Insurance
Company: Coordinated Benefits Systems
Policy No. : City of Wichita Falls Employee
Benefits Trust
Policy Period: October 1, 1991 through September 30, 1992
Perils: Basic Dental Coverage with Orthodontics
for Children Under 19
Coverages: $1,000 Annual Maximum - Basic Coverage
$1,000 Lifetime Maximum - Orthodontics
Deductible: Basic Coverage - $100 Annually Per Person
(Maximum 3 Family Members) ; No Deductible
for Orthodontics
Coinsurance: 80-20 Basic, 50-50 Orthodontics,
50-50 Periodontics
Premium: Annual Estimate $150,000
Q Policy: Life Insurance
Company: Aetna Life and Casualty
Policy No. : GT-447782 (Group #)
Policy Period: October 1, 1991 through September 30, 1992
Perils: Death and Dismemberment Benefits
Coverage: Varies from $3,000; $5,000; $7,500; $10,000;
$12,000; $14,000; $15,000; Double Indemnity
for Accidental Death. Dismemberment
Benefits.
Deductible: N/A
Premium: Annual Estimate $80,000
R Policy: Life Insurance (Directors Only)
Company: Pilot Life Insurance Company
Policy No. : 0548 (Group #)
Policy Period: January 1, 1990 to December 31, 1991
Perils: Accidental Death and Dismemberment
Coverage: $25,000
Deductible N/A
Premium: Annual Estimate $400
113
Wichita `
TEXAS\
y
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GRAPHICS
Wichita '
TEXAS\
EXHIBIT L-1
CITY OF WICHITA FALLS , TEXAS
CASH AND SHORT-TERM INVESTMENTS
50
:: Pp ,
/ P i 0 17 r
U
r-1
A X
/ 1011'
20
10
0 - Al 1 A A
1987 1988 1989 1990 1991
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
EXHIBIT L-2
CITY OF WICHITA FALLS , TEXAS
TOTAL BONDS PAYABLE
70
60 -
50 -
N (p 40
1.111
" 30 - 'AA /
/4
20 -
10
I 1
1987 1988 1989 1990 1991
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
EXHIBIT L-3
CITY OF WICHITA FALLS , TEXAS
GENERAL OBLIGATION SONDS PAYABLE
26
24 -
22 ���
//:
20 / r18
16
0
r n 14
rn El
8 � 12
GGp 10
a -
6 -
4 -
2 - /
//:;</'/ //// /, „ „ x
1987 1988 1989 1990 1991
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
EXHIBIT L-4
CITY OF WICHITA FALLS , TEXAS
REVENUE BONDS PAYABLE
50
1
45 — /j
//4
/)40 —
35 — ////
30
la ///
r a O 5 2 /
��
////7
la il
20 — //7'-- /77 :7y//- j /
15 —� / V
/
10 — / /
5 /
O l A / .1
, ,
1987 1988 1989 1990 1991
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
EXHIBIT L-5
CITY OF WICHITA FALLS , TEXAS
TOTAL FUND EQUITY
140 _
\130 - , \4440:4::::!!
1114,44414::
120 -
110 -
100 -
90 -, likh.
80 '
(x 0
1-, 1 .-I 70
00 0 H
A X 60
50
40
30 -
20
10AdIg° AO° /
0
1987 1988 1989 1990 1991
YEARS ENDED SEPTEMBER 30,
-Z RESERVED/DESIGNATED [\' UNRESERVED/UNDESIGNATED
(UNAUDITED)
EXHIBIT L-6
CITY OF WICHITA FALLS , TEXAS
COMPARISON OF TAX LEVY AND TAX COLLECTIONS
15
14 — sr
\lif
r, _____,
..,„
. .
13 — / NI 1 i ,
i,„
r \ 01 SF
, IF \ .
#1° 0
12 pr,_ \ 10 \ i i
IF
II -
PI - V \
1O / \ , \
VI a G 8,.-. 9 -00,\ \' \ \ 0\\\22\
'—' O . \ \ \ � \-
40 0
00
.„.2, V ,\\ ' \ •
n x \ $e
6 i \ 7eo \ Or!
\ \/ \
\\ \
4 \ \'
Ole
0
3 - \_
of
2 / IS1 0
'' 100 ,
0 4101:2\ . SI '
lik Ali.
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
YEARS ENDED SEPTEMBER 30,
TAX LEVY \ .`\J TAX COLLECTIONS
(UNAUDITED)
EXHIBIT L-7
CITY OF WICHITA FALLS , TEXAS
ANALYSIS OF REVENUES BY SOURCE
FOR THE YEAR ENDED SEPTEMBER 30, 1991
INTEREST AND MISCELLANEOUS (9.6%)
INTERGOVERNMENTAL (7 .2%)
\ TAXES (41.5%)
O i \
SERVICE CHARGES (30.8%)
\� J
LICENSES, PERMITS, AND FINES (2.2%)
RENTS AND CONCESSIONS (8.7%)
J
(UNAUDITED)
EXHIBIT L-8
CITY OF WICHITA FALLS , TEXAS
ANALYSIS OF EXPENDITURES BY FUNCTION
FOR THE YEAR ENDED SEPTEMBER 30, 1991
TRAFFIC & TRANSPORT. (1.9%)
SANITATION (7 .7%) �\
\ WATER & SEWER (18.6%)
HEALTH (3.3%)
PUBLIC WORKS (9 .0%) \
AIRPORT (0.4%)
PARKS & RECREATION (4 .3%)
DEBT SERVICE (3.6$) CAPITAL PROJECTS (2 .4$)
FIRE (8.6$) INTERNAL SERVICE (8.6%)
I
PLANNING (0.4%) TRANSIT (0.9$)
//
POLICE (13.6%)
ADMINISTRATIVE (16 .0%)
ACCOUNTING & FINANCE (0.7%)
(UNAUDITED)
EXHIBIT L-9
CITY OF LLS , TEXAS
GENERAL GOVERNMENTAL REVENUES - (GENERAL FUND ONLY)
LAST TEN FISCAL YEARS
30
28 - r r r
r re
26 -
r r
24
22
20 /18
v g4 14
EXHIBIT L-10
CITY OF WICHITA FALLS , TEXAS
GENERAL GOVERNMENTAL EXPENDITURES - (GENERAL FUND ONLY)
LAST TEN FISCAL YEARS
35
30
0
m i i,,_ I
Or
25e i,„,,
° O / r
Uj l 20
91 , 0 / ,
W a rI
A x 15
-01111111°
10 / / / , 0
5
O A ti .
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
*
Wichita►
TEXAS '