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City of Wichita Falls
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
For Year Ended
September 30, 1992
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1992
ISSUED BY:
DEPARTMENT OF FINANCE
FRED L. WERNER, C.P.A.
DIRECTOR
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Featured on the cover is the preliminary design for the
Multi-Purpose Events Center.
■
On July 25,1992,the citizens of Wichita Falls and Wichita County voted to
approve the construction of a Multi-Purpose Events Center on a 100-acre
tract along the north and south side of the Wichita River.Plans for the
complex call for the construction of three facilities that will accommodate
all types and sizes of community events.
■
A Coliseum and Exhibit Hall will be constructed on the south side of the
river.The Coliseum will include 7,500 permanent seats and sufficient floor
space to seat an additional 2,500 people.The Coliseum will be used for
large concerts,rodeos and other special events.The Exhibit Hall will have
meeting rooms and banquet areas for 3,000 people.Parking for the
Coliseum and Exhibit Hall will total 4,000 spaces.
•
An Agricultural Complex will be constructed on the north side of the
river.This Complex will include a livestock building,show arena,practice
arena and a staff facility.Parking will include space for 500 cars,150
pi•ckups and trailers,and 40 recreational vehicle hookups.
■
The estimated cost for construction of this City/ County project is$25
million.The City and the County each will provide$9 million,and the
remaining$7 million is to be raised from private sources within the
community.Operating costs will be supported by revenues derived from
the operation of the center,undesignated City hotel/ motel occupancy
taxes and general revenues of the City and County if needed.
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1992
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 9-40
REQUIRED SUPPLEMENTARY INFORMATION:
Texas Municipal Retirement System - Analysis of Funding
Progress - Last Ten Plan Years B-1 41
Texas Municipal Retirement System - Revenues by Source
and Expenses by Type - Last Ten Plan Years B-2 42
Firemen's Relief and Retirement Fund - Analysis of
Funding Progress B-3 43
Firemen's Relief and Retirement Fund - Revenues by Source
and Expenses by Type - Last Ten Plan Years B-4 44
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS:
General Fund:
Comparative Balance Sheet C-1 45
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual C-2 46-49
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1992
TABLE OF CONTENTS (CONT'D. )
Exhibit Page
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONT'D. ) :
Special Revenue Funds:
Combining Balance Sheet D--1 50
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual D--2 51
Civic/Community Promotion Fund:
Comparative Balance Sheet D--3 52
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D--4 53
Hotel/Motel Tax Fund:
Comparative Balance Sheet D--5 54
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D--6 55
Community Development Block Grant Fund:
Comparative Balance Sheet D--7 56
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D--8 57
Miscellaneous Special Revenue Fund:
Comparative Balance Sheet D--9 58
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D-10 59
Section 8 Housing Fund:
Comparative Balance Sheet D-11 60
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D-12 61
Rental Rehabilitation Program Fund:
Comparative Balance Sheet D-13 62
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D-14 63
Home Investment Partnership Agreement Fund:
Comparative Balance Sheet D-15 64
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual D-16 65
Debt Service Fund:
Comparative Balance Sheet E-1 66
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget and Actual E-2 67
Capital Projects Funds:
Combining Balance Sheet F-1 68
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance F-2 69
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1992
TABLE OF CONTENTS (CONT'D. )
Exhibit Page
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONT'D. ) :
Enterprise Funds:
Combining Balance Sheet G-1 70-71
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings G-2 72
Combining Statement of Cash Flows G-3 73
Internal Service Fund:
Comparative Balance Sheet H-1 74
Statement of Revenues, Expenses and Changes
in Retained Earnings H-2 75
Statement of Cash Flows H-3 76
Trust and Agency Funds:
Combining Balance Sheet I-1 77
Expendable Trust Funds - Combining Statement
of Revenues, Expenditures and Changes in
Fund Balance I-2 78
Agency Funds - Combining Statement of Changes
in Assets and Liabilities I-3 79-81
SUPPORTING SCHEDULES:
Combined Schedule of Bonded Debt and Interest Maturities J--1 82
Combined Schedule of Bonds Payable J--2 83-84
Debt Service Coverage - Revenue Bonds J--3 85
General Fixed Assets - Comparative Schedule of
General Fixed Assets - By Sources J--4 86
General Fixed Assets - Schedule of Changes in
General Fixed Assets - By Sources J--5 87
General Fixed Assets - Schedule of General
Fixed Assets - By Function and Activity J--6 88
General Fixed Assets - Schedule of Changes in
General Fixed Assets - By Function and Activity J--7 89
Airport Fund - Plant, Equipment and Depreciation J--8 90
Transit Fund - Plant, Equipment and Depreciation J--9 91
Sanitation Fund - Plant, Equipment and Depreciation J-10 92
Water and Sewer Fund - Plant, Equipment and Depreciation J-11 93
Internal Service Fund - Plant, Equipment and Depreciation J-12 94
CITY OF WICHITA FALLS, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 1992
TABLE OF CONTENTS (CONT'D. l
Exhibit Page
STATISTICAL SECTION (UNAUDITED)
General Governmental Expenditures by Function (General Fund
Only) - Last Ten Fiscal Years K--1 95
General Governmental Revenues by Source (General Fund Only) -
Last Ten Fiscal Years K--2 96
Property Tax Levies and Collections - Last Ten Fiscal Years K--3 97
Assessed and Estimated Actual Value of Taxable Property -
Last Ten Fiscal Years K--4 98
Property Tax Rates and Tax Levies - Direct and Overlapping
Governments - Last Ten Fiscal Years K--5 99
Ten Largest Taxpayers K--6 100
Special Assessment Collections (Capital Improvement
Assessments Fund) - Last Ten Fiscal Years K--7 101
Computation of Legal Debt Margin K--8 102
Ratio of Net General Bonded Debt to Assessed Value and
Net General Bonded Debt Per Capita - Last Ten Fiscal Years K--9 103
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Expenditures -
Last Ten Fiscal Years K-10 104
Computation of Direct and Overlapping Bonded Debt K-11 105
Revenue Bond Coverage - Water and Sewer Revenue Bonds -
Last Ten Fiscal Years K-12 106
Demographic Statistics - Last Ten Fiscal Years K-13 107
Property Value, Building Permits and Bank Deposits -
Last Ten Fiscal Years K-14 108
Miscellaneous Statistical Data K-15 109
Schedule of Insurance Coverage K-16 110-114
Graphics:
Cash and Short-Term Investments L--1 115
Total Bonds Payable L--2 116
General Obligation Bonds Payable L--3 117
Revenue Bonds Payable L--4 118
Total Fund Equity L--5 119
Comparison of Tax Levy and Tax Collections L--6 120
Revenues By Source - For the Year Ended 9/30/92 L--7 121
Revenues By Source - For the Year Ended 9/30/91 L--8 122
Expenditures By Function - For the Year Ended 9/30/92 L--9 123
Expenditures By Function - For the Year Ended 9/30/91 L-10 124
General Governmental Revenues (General Fund Only) -
Last Ten Fiscal Years L-11 125
General Governmental Expenditures (General Fund
Only) - Last Ten Fiscal Years L-12 126
INTRODUCTORY SECTION
w��n� ► s
TEXAS
March 15, 1993
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, 1992 , 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, the combining and individual fund and account
group financial statements and schedules, as well as the auditor's
report. 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.
i
1300 7th Street P.O. Box 1431 817/761-7611 Wichita Falls,Texas 76307
The City provides on a continuing basis the full range of basic
services contemplated by charter. 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 section 2100 of the Codification of Governmental
Accounting and Financial Reporting Standards, 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
Employee Benefit Trust Fund, Firemen's Relief and Retirement Board,
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, separate governmental entity characteristics and
are governed by separate boards. Also, they are not funded by the
City. The City is not obligated to finance any deficits they may
incur, and the City does not guarantee their indebtedness.
ECONOMIC CONDITION AND OUTLOOK
The City of Wichita Falls is located in North Central Texas,
approximately 130 miles northwest of the Dallas - Fort Worth
metropolitan area and 145 miles southwest of Oklahoma City. The City
of Wichita Falls is the county seat of Wichita County and was
incorporated in 1889 . There are 50 square miles of land in the City's
boundary. Wichita Falls is the largest city within a 100-mile radius
and, therefore, a trade center for a 22-county area in southern
Oklahoma and north Texas. Retail trade includes building materials,
general merchandise, food stores, automotive, clothing, home
furnishings, restaurants, drug stores, liquor stores, and
miscellaneous retail. Wichita Falls is also a regional medical center
primarily serving a 16-county area. Approximately 240 physicians
practice in this area, and there are 19 general and specialized
clinics in Wichita Falls. The community has a 7 . 1% unemployment rate
compared to a state rate of 7.5% as of September 30, 1992 .
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 of Wichita Falls and Wichita County have
jointly funded a Multi-Purpose Events Center with a total estimated
construction cost of $25, 000, 000. Funding for the Center was made
possible by $9, 000, 000 from both the City of Wichita Falls and
Wichita County and it is estimated that the private sector will
contribute $7, 000, 000 to the project. The Center will have a
coliseum, exhibit hall, and an ag-arena/show barn.
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
recognizes 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, 1992 .
GOVERNMENTAL FUND TYPES, General Fund. Revenues in the General Fund
totaled $29, 422 , 399 in the 1991-92 fiscal year, an increase of 3 . 3%
from the 1990-91 fiscal year. The increase is primarily due to an
increase in ad valorem tax, sales tax, and franchise tax collections.
General property taxes produced 45. 56% of general fund revenues
compared to 46. 57% in 1990-91 and 47 . 04% in 1989-90.
iii
Governmental Fund Types, Continued.
Increase
(Decrease)
General Fund Percent Over Prior
Revenue Source Amount of Total Year
Property and other taxes $24, 535, 787 83 . 39% $ 934, 399
Charges for service 1, 070,926 3 . 64 2 , 213
Licenses and permits 604 ,905 2 . 05 49, 933
Fines 904, 581 3 . 07 123 , 470
Intergovernmental revenue 1, 380,734 4 . 69 155, 230
Miscellaneous revenue 925,466 3 . 16 (329, 749)
TOTALS $29 , 422 , 399 100. 00% $ 935, 496
Assessed valuation was $2 , 209 , 594, 077 based on 100% of market value.
Current tax collections were 97 . 60% of the tax levy, up . 09% from last
year. The ratio of total collections (current and delinquent) to the
current tax levy was 99.95%. Allocation of the property tax levy by
purpose for the year ended September 30, 1992 , and the preceding two
fiscal years was as follows:
Purposes 1991-92 1990-91 1989-90
General Government $12 , 604, 863 $12 , 600, 765 $12 , 734 , 735
Debt Service 2 , 075, 038 2 , 076, 457 2 , 220, 558
The increase or (decrease) in levels of General Fund 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 $ 4 , 502 , 220 15. 11% $ (534 , 889)
Police 8 , 970, 402 30. 11 417, 413
Fire 5, 558 , 991 18 . 66 165, 139
Parks and Recreation 2 , 555, 542 8 . 58 121, 963
Accounting/Finance 462 , 729 1. 55 45, 269
Planning 229, 485 . 77 ( 40, 487)
Public Works 4 , 243 , 882 14 . 24 (722 , 038)
Health 2 , 156, 485 7 . 24 200, 722
Traffic and Transportation 1, 114 , 159 3 . 74 ( 67 , 763)
TOTALS $29 , 793 , 895 100. 00% $ (414 , 671)
iv
Governmental Fund Types, Continued.
Expenditures from the General Fund totaled $29, 793 , 895, a decrease of
1. 37% over the 1990-91 fiscal year.
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 decrease in Administrative Services Division was due to property
acquisitions in the prior year that were not made in the current year.
There also was a decrease in the Data Processing and Municipal Court
Divisions due to a reduction in labor, professional services, and
equipment purchases in the current year as compared to the prior year.
A decrease in the Public Works Department is due to the completion of
a major portion of the engineering work at the Water Treatment Plant.
The Health Department has acquired additional grants during the
current year.
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, 1992 , was $. 66363 per $100 which means that
the City has a tax margin of $1. 58 per $100, and could raise up to
$35, 052 , 338 additional tax revenue a year from the present assessed
valuation of $2 , 209, 594 , 077 before the limit is reached.
General Fund Balance. The fund balance of the general fund increased
by 3 . 75% in 1992 . This increase was primarily due to increased
revenues from taxes and a decrease in expenditures in the
Administrative and Public Works Departments.
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 Community Development Block Grant Fund, Rental Rehabilitation
Fund, Section 8 Housing Fund, and Home Investment Partnership
Agreement Fund, which are used to subsidize rents and housing payments
for lower income families within the City, are also included in
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 1991-92 fiscal period, expenditures from the
Capital Projects Funds amounted to $2 , 241, 527 . Capital Projects Funds
equity balances on hand as of September 30, 1992, totaled
$12 , 588, 618. The significant uncompleted project in Capital Projects
Funds at the present time is the Multi-Purpose Event Center.
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, 1992 was $621, 631.
PROPRIETARY FUNDS, WATER AND SEWER. The Water and Sewer operation
for the past three years is presented in the following tabulation:
Water and Sewer: 1991-92 1990-91 1989-90
Income Available for Debt
Service $4 , 315, 215 $4 , 827 , 946 $5, 127 , 614
Maximum Annual Debt Service 4 , 040, 563 3 , 595, 338 2 , 905, 214
Maximum coverage (income
available for debt service
divided by maximum annual
debt service) 1. 07 1. 34 1. 76
AIRPORT. Operating revenues of the Airport for the year ended
September 30, 1992 , were $211, 470 compared to $211, 522 in the prior
year. Operating expenses reflect an increase from the prior year
with $272 , 627 compared to $251, 323, an increase of 8. 5%.
TRANSIT. Operating revenues of the Transit system were decreased from
the prior year: 1991-92 $127, 191; 1990-91 $127, 411; a decrease of
less than 1%. Operating expenses were: 1991-92 $663 ,702 ; 1990-91
$578 , 519 ; an increase of 14 .7%.
vi
SANITATION. Sanitation revenues for the year ended September 30,
1992 , were $5, 223 , 916. In 1990-91 they were $5, 198, 904 ; an increase
of less than 1% from the prior year. Operating expenses increased
4 .9% from $4 , 872 , 856 in 1990-91 to $5, 112 , 880 in 1991-92 .
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 monthly rental fee. Total operating revenues for the year
ended September 30, 1992 were $4 , 928, 497 compared to $5, 219, 448, a
decrease of 5. 6%.
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.
DEBT ADMINISTRATION. Outstanding general obligation bonds at
September 30, 1992 , totaled $22 , 860, 000 and are 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 1991-92 fiscal year was as
follows:
Ratio of Debt
to Assessed Debt Per
Value Capita
Net Direct Bonded Debt $22 , 203 , 347 1. 00% $227
The current ratings are as follows:
Moody's Investors Standard &
Service Poor' s
General Obligation Bonds Al AA
Water and Sewer Revenue Bonds Al A+
vii
TREASURY MANAGEMENT. Cash which was temporarily idle during the year,
including debt retirement funds, operating funds, and bond proceeds,
was invested in public funds investment pool, government securities,
and repurchase agreements.
RISK MANAGEMENT. During 1991-92, 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.
OTHER INFORMATION
INDEPENDENT AUDIT. The City Charter requires an annual audit of
the books of account, financial records, and transactions of all
administrative departments of the City by Certified Public
Accountants, selected by the Mayor and City Council. This requirement
has been complied with and Mathis, West, Huffines & Co. , P. C. ' s
opinion has been included in this report. The statistical section of
this report was not included within the scope of the audit.
AWARDS. The Government Finance Officers Association of the United
States and Canada (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City of Wichita Falls, Texas,
for its comprehensive annual financial report for the fiscal year
ended September 30, 1991. 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 for Excellence in
Financial Reporting, a governmental unit must publish an easily
readable and efficiently organized comprehensive annual financial
report whose contents conform to program standards. Such reports must
satisfy both generally accepted accounting principles and applicable
legal requirements.
A Certificate of Achievement for Excellence in Financial Reporting 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 GFOA to determine its
eligibility for another certificate.
viii
ACKNOWLEDGEMENTS. Our appreciation is extended to the various elected
officials, department heads and employees responsible for the fair
presentation of the comprehensive annual 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 efforts 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
c;7/ AL,2244.1y1
Fred L. Werner, 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, 1991
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports(CAFRs) achieve the highest
standards in government accounting
and financial reporting.
4etE cop%
INmax
cuma
COMPAmr r President
clochia
cutive Director
x
i
CITY OF WICHITA FALLS
ORGANIZATIONAL CHART
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CITIZENS
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CITIZENS F__ a nf
COMMISSIONS H COUNCIL I OWENS
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1 BOARDS
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MUNICIPAL
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CITY MANAGER I I CITY ATTORNEY I I CITY CLERK I
AOMI�NSTRATOR PUBUG
INFORMATION
ASSISTANT
CITY MANAGER
I
I AOMINISTRAnvE I HOUSING t
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TRAFFIC AND FINANCE COMMUNITY DEPARTMENT
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INTENA UnUt1ES
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IMINISThATiOI I CEMETERY I
CITY OF WICHITA FALLS, TEXAS
LIST OF PRINCIPAL OFFICIALS
SEPTEMBER 30, 1992
Title Name
Mayor Michael Lam
Mayor Pro-Tem David Farabee
City Council Member Terrance Loughry
City Council Member Angus Thompson
City Council Member Paul Hughes
City Council Member J. W. Martin
City Council Member Harold Hawkins
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
FINANCIAL SECTION
1--N C--1
1_I _ MATHIS, WEST, HUFFINES & CO., P.C.
Capital Center• Indiana at Seventh
— ]...._,LCertified Public Accountants P. O. Box MWH • Wichita Falls,Texas 76307-9980
(817) 723-1471 • FAX (817) 723-2251
Independent Auditor's Report
The Honorable Mayor and Members of the City Council
City of Wichita Falls, Texas
we have audi_ed the accompanying general purpose financial statements of the
City of Wichita Falls, Texas, as of and for the year ended September 30, 1992,
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, 1992, 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.
"" ¢ C • C
MATHIS, WEST, HUFFINES & CO. , P.C.
Wichita Falls, Texas
January 15, 1993
2
GENERAL PURPOSE FINANCIAL
STATEMENTS
Wichita .
TEXAS
EXHIBIT A-1
(Page 1 of 2)
CITY OF WICHITA FALLS, TEXAS
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
SEPTEMBER 30, 1992
WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1991
Fiduciary Account Groups
Governmental Fund Types Proprietary Fund Types Fund Types General General Totals
Spacial Debt Capital Internal Trust and Fixed Long-Term (Memorandum Only)
General Revenue Service Projects Enterprise Service Agency Assets Debt 1992 1991
ASSETS
Cash end cash equivalents $10,602,448 $1,347,036 $ 643,719 $12,609,637 $ 9,188,911 $ 639,557 $ 654,324 $ - $ - $ 35,685,632 $ 33,361,131
Investments - - - - - - 1,577,763 - - 1,577,763 1,333,591
Receivables (net of allowance for
uncollectible account.) (Note 5):
Taxes and ass.ssmanta (Note 6) 841,125 279,551 196,679 238,496 - - 2,387,390 - - 3,943,241 4,234,862
Customer and trade - - - - 1,748,281 - - - - 1,748,281 1,533,204
Other City funds (Note 16) 230,626 72,677 26,209 - - - - - - 329,512 372,110
Government agencies 813,321 1,857,209 - 32,742 110,605 - 17,812 - - 2,831,689 2,148,066
Other 310,202 3,312 - - 36,766 11,984 - - - 362,264 195,192
Inventory 58,911 - - - 660,928 433,512 - - - 1,153,351 999,627
Prepaid items 84,532 137,964 - - 10,616 373 - - - 233,485 265,774
Restricted assets (Note 7):
w Cash and cash equivalents - - - - 8,434,080 - - - - 8,434,080 8,353,315
Investments - - - - 64,700 - - - - 64,700 108,300
Receivables:
Government agencies - - - - 2,146,516 - - - - 2,146,516 8,593,467
Other - - - - 154,977 - - - - 154,977 20,421
Plant and equipment (Note 8):
Land and betterments - - - - 24,598,680 433,658 - 14,153,180 - 39,185,518 39,606,454
Buildings, systems and improvements - - - - 76,451,654 4,008,948 - 14,403,480 - 94,864,082 93,512,850
Machinery and equipment - - - - 2,911,483 - - 4,958,950 - 7,870,433 7,515,617
Furniture and fixtures - - - - 45,868 - - 419,769 - 465,637 472,544
Motor vehicles and equipment - - - - 3,670 17,854,124 - 26,236 - 17,884,030 17,081,815
Construction in progress - - - - 31,050,232 - - - - 31,050,232 22,376,884
Accumulated depreciation - - - - ( 38,472,809) ( 11,383,514) - - - ( 49,856,323) ( 46,859,244)
Deferred charges - - - - 515,407 - - - - 515,407 554,278
Other meta 100 3,000 - - - - - - - 3,100 5,837
Amount available for retirement of bonds - - - - - - - - 656,653 656,653 581,545
Amount to be provided for the retirement
of capital 1 - - - - - - - - 30,867 30,867 46,491
Amount to be provided for accrued
vacation and sick leave - - - - - - - - 3,326,404 3,326,404 3,243,767
Amount to be provided for the
retirement of bonds - - - - - - - - 22,203,347 22,203,347 19,033,455
Amount to be provided for claims
and judgments - - - - - - - - 307,320 307,320 78,008
Total assets $12,941,265 $3,700,749 $ 866,607 512,880,875 $119,660,565 $11,998,642 54,637,289 $33,961,615 $26,524,591 $227,172,198 $218,769,361
The accompanying Notes are an integral part of these financial statement..
EXHIBIT A-1
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS (COMT'D-)
SEPTNER 30, 1992
WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1991
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 1992 1991
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable - trade $ 393,843 $ 59,905 $ - $ 13,331 $ 451,686 $ 407,165 $ 71,026 $ - $ - $ 1,396,956 $ 1,167,982
Accrued payroll 449,392 10,592 - - 333,863 70,341 - - - 864,188 655,833
Accrued vacation and sick leave
(Note 19) 100,000 - - - - - - - 3,326,404 3,426,404 3,343,767
Payable to other City funds (Note 16) 72,677 118,876 - 26,209 111,750 - - - - 329,512 372,110
Payable to government agencies 77,969 39,186 - - 4,167 - 2,378,163 - - 2,499,485 2,502,363
Estimated health claims payable - - - - - - 457,224 - - 457,224 370,625
Other liabilities 536,135 18,214 26,209 14,221 104,978 829 1,580,828 - - 2,281,414 2,119,749
Deferred revenue 779,856 - 183,745 238,496 - - - - - 1,202,097 1,509,687
Capital leases payable (Note 13) - - - - - - - - 30,867 30,867 46,491
Claims and judgment. payable (Note 19) - - - - - - - - 307,320 307,320 78,008
Payable from restricted assets:
Contracts and trade - 1,607,011
- - - - 1,607,011 1,893,196
Revenue bonds (Note 14) - - - - 775,000 - - - - 775,000 725,000
Accrued interest - revenue bonds - - - - 478,334 - - - - 478,334 404,809
Natured bonds and interest payable - - - - 3,000 - - - - 3,000 3,000
General obligation bonds payable
(Note 14) - - - - - - - - 22,860,000 22,860,000 19,615,000
Payable to U.S. Government (Note 11) - - - - 1,024,097 - - - - 1,024,097 1,042,169
Revenue bonds payable (Note 14) - - - - 43,961,516 - - - - 43,961,516 44,543,467
Other long-term liabilities:
Customer deposits - payable from
restricted assets - - - - 1,205,555 - - - 1,205,555 1,132,321
Total liabilities 2,409,872 246,773 209,954 292,257 50,060,957 478,335 4,487,241 - 26,524,591 84,709,980 81,525,527
Fund equity:
Contributed capital (Note 18) - - - - 22,642,269 12,759,576 - - - 35,401,845 34,963,919
Investment in general fixed assets - - - - - - - 33,961,615 - 33,961,615 34,157,901
Retained earnings (deficit):
Reserved for revenue bond
debt service - - - - 3,116,240 - - - - 3,116,240 3,014,427
Unreserved (Note 3) - - - - 43,841,099 ( 1,239,269) - - - 42,601,830 41,713,069
Fund balances:
Reserved for encumbrances 295,860 29,117 - 4,647,088 - - - - - 4,972,065 7,317,799
Reserved for inventory and
prepaid items 143,443 137,964 - - - - - - - 281,407 277,412
Unreserved:
Designated for:
Subsequent years expenditures 2,750,000 2,907,969 - 7,941,530 - - 150,048 - - 13,749,547 8,441,706
Debt service - - 656,653 - - - - - - 656,653 581,545
Undeeignated (Note 3) 7,342,090 378,926 - - - - - - - 7,721,016 6,776,056
Total fund equity 10,531,393 3,453,976 656,653 12,588,618 69,599,608 11,520,307 150,048 33,961,615 - 142,462,218 137,243,834
Total liabilities and fund equity $12,941,265 $3,700,749 $ 866,607 $12,880,875 $119,660,565 $11,998,642 $4,637,289 $33,961,615� $26,524,591 $227,172,198 $218,769,361
The accompanying Notes are an integral part of these financial statements.
EXHIBIT A-2
CITY OF WICHITA FALLS, TEXAS
COMBINED STATEMENT OF REVENUES, EZPE DITURES AND CHANGES IN FUND BALANCES -
ALL 60VERIDWINTAL FUND TYPES AND EXPENDABLE TRUST FOSS
FOR THE YEAR ENDED SEPTEMBER 30, 1992
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1991
Fiduciary
Governmental Fund Types Fund Types Totals
Special Debt Capital Expendable (Memorandum Only)
General Revenue Service Projects Trust 1992 1991
Revenues:
Taxes (Note 6) $24,535,787 $ 669,789 $2,285,724 $ - $ 46,699 $27,537,999 $26,410,274
Charges for services 1,070,926 172,392 - - - 1,243,318 1,227,246
Licenses and permits 604,905 - - - - 604,905 546,644
Fines and forfeitures 904,581 179,913 - - - 1,084,494 822,346
Intergovernmental revenue 1,380,734 3,832,947 - - - 5,213,681 4,184,712
Contributions - - - - 2,505,470 2,505,470 2,349,638
Miscellaneous revenue 925,466 426,489 76,374 441,848 - 1,870,177 2,585,867
Total revenues 29,422,399 5,281,530 2,362,098 441,848 2,552,169 40,060,044 38,126,727
Expenditures:
Current:
Administrative services division 4,502,220 2,799,064 - - 2,516,420 9,817,704 10,095,365
Police division 8,970,402 - - - - 8,970,402 8,552,989
Fire division 5,558,991 - - - - 5,558,991 5,393,852
Parke and recreation division 2,555,542 247,354 - - - 2,802,896 2,732,397
Accounting/finance division 462,729 - - - - 462,729 417,460
1n Planning division 229,485 - - - - 229,485 269,972
Public work. division 4,243,882 793,015 - - - 5,036,897 5,680,348
Health division 2,156,485 93,139 - - - 2,249,624 2,050,693
Traffic and transportation division 1,114,159 - - - - 1,114,159 1,181,922
Capital outlay - 54,532 - 2,241,527 - 2,296,059 1,545,091
Debt service:
Principal retirement - - 755,000 - - 755,000 710,000
Interest and paying agent fees - - 1,531,990 - - 1,531,990 1,576,724
Total expenditures 29,793,895 3,967,104 2,286,990 2,241,527 2516, ,420 40,825,936 40,206,813
Excess of revenues over (under) expenditures ( 371,496) 1,294,426 75,108 ( 1,799,679) 35,749 ( 765,892) ( 2,080,086)
Other financing sources (uses):
Proceeds from general obligation bonds - - - 4,000,000 - 4,000,000 -
Operating transfers in (Note 16) 964,505 152,733 - 212,000 - 1,329,238 1,118,977
Operating transfers out (Note 16) ( 212,443) ( 364,733) - - - ( 577,176) ( 314,103)
Total other financing
sources (uses) 752,062 ( 212,000) - 4,212,000 - 4,752,062 804,874
Excess of revenues and other source. over
(under) expenditures and other uses 380,566 1,082,426 75,108 2,412,321 35,749 3,986,170 ( 1,275,212)
Fund balance - beginning 10,150,827 2,371,550 581,545 10,176,297 114,299 23,394,518 24,669,730
Fund balance - ending $10,531„393 $3,453,976 $ 656,653 512,588,618 $ 150,048 $27,380,688 $23,394,518
The accompanying Notes are an integral part of these financial statements.
EXHIBIT A-3
CITY OF WICHITA FALLS, TRAS
COMBINED STATEMENT OF REVENUES, .,.............i.,...AND CHANGES IN FUND 'B r` CRS - BUDGET AND Ammar. -
®IENAL, SPECIAL REVENUE, AND DEBT SERVICE FONDS
FOR TEN YEAR ENDED SEPTEMBE 30, 1992
Totals
General Fund Special Revenue Funds 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(
Taxes (Note 6) $23,551,778 $24,535,787 $ 984,009 $ 577,938 $ 669,789 $ 91,851 $2,292,000 $2,285,724 ($ 6,276) $26,421,716 $27,491,300 $1,069,584
Charges for services 1,031,621 1,070,926 39,305 176,386 172,392 ( 3,994) - - - 1,208,007 1,243,318 35,311
Licenses and permit• 563,593 604,905 41,312 - - - - - - 563,593 604,905 41,312
Fines and forfeitures 819,735 904,581 84,846 98,175 179,913 81,738 - - - 917,910 1,084,494 166,584
Intergovernmental revenue 1,700,372 1,380,734 ( 319,638) 3,997,805 3,832,947 ( 164,858) - - - 5,698,177 5,213,681 ) 484,496)
Miscellaneous revenue 1,276,689 925,466 ) 351,223) 346,175 426,489 80,314 - 76,374 76,374 1,622,864 1,428,329 ( 194,535)
Total revenues 28,943,788 29,422,399 478,611 5,196,479 5,281,530 85,051 2,292,000 2,362,098 70,098 36,432,267 37,066,027 633,760
Expenditures:
Cur ent:
Adaini•trative services
division 4,780,220 4,502,220 278,000 3,927,287 2,799,064 1,128,223 - - - 8,707,507 7,301,284 1,406,223
Police division 9,495,254 8,970,402 524,852 - - - - - - 9,495,254 8,970,402 524,852
Fire division 5,575,475 5,558,991 16,484 - - - - - - 5,575,475 5,558,991 16,484
CD Parks and recreation
division 2,757,476 2,555,542 201,934 608,357 247,354 361,003 - - - 3,365,833 2,802,896 562,937
Accounting/finance division 462,891 462,729 162 - - - - - - 462,891 462,729 162
Planning division 257,983 229,485 28,498 - - - - - _
257,983 229,485 28,498
Public works division 4,417,154 4,243,882 173,272 1,578,731 793,015 785,716 - - - 5,995,885 5,036,897 958,988
Health division 2,379,796 2,156,485 223,311 101,452 93,139 8,313 - - - 2,481,248 2,249,624 231,624
Traffic and transportation
division 1,163,001 1,114,159 48,842 - - - - - - 1,163,001 1,114,159 48,842
Capital outlay - - - 439,108 54,532 384,576 - - - 439,108 54,532 384,576
Debt
service;Principal retirement - - - - - - 755,000 755,000 - 755,000 755,000 -
Interest and paying
agent fees - - - - - - 1,537,000 1,531,990 5,010 1,537,000 1,531,990 5,010
Total expenditures 31,289,250 29,793,895 1,495,355 6,654,935 3,987,104 2,667,831 2,292,000 2,286,990 5,010 40,236,185 36,067,989 4,168,196
Excess of revenues over
(under) expenditure• ( 2,345,462) ) 371,496) 1,973,966 ( 1,458,456) 1,294,426 2,752,882 - 75,108 75,108 ( 3,803,918) 998,038 4,601,956
Other financing Source& (uses):
Operating transfers in
(Note 16) 964,505 964,505 - 152,733 152,733 - - - - 1,117,238 1,117,238 -
Operating transfers out
(Note 16) ) 222,397) ( 212,443) 9,954 ( 364,733) ( 364,733) - - -
( 587,130) ( 577,176) 9,954
Total other financing
source• (uses) 742,108 752,062 9,954 ( 212,000) ( ,00 2120) - - - - 530,108 540,062 9,954
Excess of revenues and other
sour over (under)
expenditures and other u•e• ($ 1,603,354) 380,566 $1,983,920 ($1,670,456) 1,082,426 $2,752,882 $ - 75,100 $ 75,108 ($ 3,273,810) 1,538,100 $4,811,910
Fund balance - beginning 10,150,827 2,371,550 581,545 13,103,922
Fund balance - ending $10,531,393 $3,453,976 $ 656,653 $14,642,022
The accompanying Notes are an integral part of these financial statements.
EXHIBIT A-4
CITY OF WICHITA FALLS, TEXAS
COMBINED STATEMENT OF ,i.4:,:.I ,,ss, EXPENSES AND CHANGES IN RETAINED EARNINGS -
ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED s r e_". ,:,:. . 30, 1992
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1991
Proprietary Fund Types Totals
Internal (Memorandum Only)
Enterprise Service 1992 1991
Operating revenues:
Charges for services $17,894,733 $ - $17,894,733 $18,357,383
Rents, concessions and other 368,301 4,928,497 5,296,798 5,557,173
Total operating revenues 18,263,034 4,928,497 23,191,531 23,914,556
Operating expenses:
Personnel services 5,936,086 1,024,362 6,960,448 6,644,721
Supplies and materials 744,656 964,339 1,708,995 1,862,267
Maintenance and repairs 5,095,964 1,468,172 6,564,136 6,602,885
Utilities and other services 2,667,865 191,031 2,858,896 2,743,271
Insurance and contract support 570,597 6,970 577,567 554,113
Depreciation and amortization 1,996,407 1,456,014 3,452,421 3,881,562
Total operating expenses 17,011,575 5,110,888 22,122,463 22,288,819
Operating income (loss) 1,251,459 ( 182,391) 1,069,068 1,625,737
Nonoperating revenues (expenses):
Interest income 880,327 - 880,327 1,167,993
Gain on sale of fixed assets 3,915 49,184 53,099 114,695
Interest expense and paying agent fees ( 565,282) - ( 565,282) ( 582,568)
Contributions from operating grants 567,666 - 567,666 387,276
Total nonoperating revenues
(expenses) 886,626 49,184 935,810 1,087,396
Income (loss) before operating transfers 2,138,085 ( 133,207) 2,004,878 2,713,133
Operating transfers:
Operating transfers in (Note 16) 212,443 - 212,443 161,210
Operating transfers out (Note 16) 1 652,071) ( 312,434) ( 964,505) ( 966,084)
Net operating transfers I 439.628) ( 312,434) ( 752,062) ( 804,874)
Net income (loss) 1,698,457 ( 445,641) 1,252,816 1,908,259
Retained earnings (deficit) - beginning 45,521,124 ( 793,628) 44,727,496 42,928,478
Equity transfer ( 262,242) - ( 262,242) ( 109,241)
Retained earnings (deficit) - ending $46,957.339 ($1,239,269) $45,718,070 $44,727,496
The accompanying Notes are an integral part of these financial statements.
7
EXHIBIT A-5
CITY OF WICRITA FALLS, TEAS ,
COMBINED STAMMER OF CASH FLORET -
ALL PROPRIETARY FORD TYPES
FOR THE YEAR ENDED SEPTEIHIER 30, 1992
WITH CCIIIPARATIVE TOTALS FOR THE TEAR ENDED SEPTEMBER 30, 1991
Proprietary Fund Types Totals
Internal (Memorandum Only)
Enterprise Service 1992 1991
Cash flows from operating activities:
Operating income (loss) $ 1,251,459 ($ 182,391) $ 1,069,068 $ 1,625,737
Adjustments to reconcile operating income (loss) to net
cash provided by (used in) operating activities:
Depreciation and amortization 1,996,407 1,456,014 3,452,421 3,881,562
(Increase) decrease in current assets:
Receivables:
Customer and trade ( 215,077) - ( 215,077) 307,652
Government agencies 86,715 - 86,715 145,971
Other 11,787 ( 11,984) ( 197) 134,038
Inventory ( 35,651) ( 108,199) ( 143,850) ( 28,506)
Prepaid items 19,892 6,517 26,409 ( 30,648)
Restricted assets 6,312,395 - 6,312,395 ( 7,086,660)
Increase (decrease) in current liabilities:
Accounts payable - trade 128,195 204,516 332,711 ( 360,719)
Accrued payroll 45,498 14,164 59,662 21,001
Payable to other City funds ( 84,083) - ( 84,083) ( 152,420)
Payable to government agencies 1,971 - 1,971 ( 27,219)
Other liabilities ( 69,520) ( 3,271) ( 72,791) 39,107
Other liabilities payable from
restricted assets ( 212,610) -
( 212,610) 1,081,649
Total adjustments 7,985,919 1,557,757 9,543,676 ( 2,077,192)
Net cash provided by (used in)
operating activities 9,237,378 1,375,366 10,612,744 ( 451,455)
Cash flows from noncapital financing activities:
Customer deposits received 73,234 - 73,234 51,911
Operating grants received 567,666 - 567,666 387,276
Operating transfers in from other funds 212,443 - 212,443 161,210
Operating transfers out to other funds ( 652,071) ( 312,434) ( 964,505) ( 966,084)
Net cash provided by (used for) noncapital
financing activities 201,272 ( 312,434) ( 111,162) ( 365,687)
Cash flows from capital and related financing
activities:
Proceeds from sale of revenue bonds 193,049 - 193,049 21,122,066
Acquisition and construction of
capital assets ( 10,297,479) ( 905,372) ( 11,202,851) ( 18,663,550)
Proceeds from sale of fixed assets 4,000 61,110 65,110 153,537
Principal paid on revenue bond maturities
and construction contracts ( 743,072) - ( 743,072) ( 742,502)
Interest paid on revenue bonds and
construction contracts ( 565,282) - ( 565,282) ( 582,568)
Contributed capital - - - 49,594
Net cash provided by (used for) capital
and related financing activities ( 11,408,784) ( 844,262) ( 12,253,046) 1,336,577
Cash flows from investing activities:
Proceeds from sale and maturities of
investment securities 43,600 - 43,600 2,452,733
Interest and dividends on investments 880,327 - 880,327 1,167,993
Net cash provided by
investing activities 923,927 - 923,927 3,620,726
Net increase (decrease) in cash and cash equivalents ( 1,046,207) 218,670 ( 827,537) 4,140,161
Cash and cash equivalents at beginning of year 18,669,198 420,887 19,090,085 14,949,924
Cash and cash equivalents at end of year $17,622,991 $ 639,557 $18,262.548 $19,090,085
Supplemental disclosure of cash flow information:
Capital assets contributed to other City funds $ 262,242 $ - $ 262,242 $ 109,241
Capital assets received from other City funds - 271,932 271,932 109,241
Capital assets received from federal government - - - 7,593
Capital assets received from developers 176,208 - 176,208 42,001
The accompanying Notes are an integral part of these financial statements.
8
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1992
Note 1 - DEFINING THE REPORTING ENTITY
In accordance with Section 2100 of the Codification of Governmental
Accounting and Financial Reporting Standards, 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 in Section J50 of the Codification of
Governmental Accounting and Financial Reporting Standards.
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, 1992
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, 1992
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, 1992
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Proprietary Funds (Cont'd. 1
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 Lona-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, 1992
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Basis of Accountina
The accounting and financial reporting treatment applied to a fund is
determined by its measurement focus. All governmental funds, expendable
trust funds and agency funds are accounted for using a current financial
resources measurement focus. with this measurement focus, only current
assets and current liabilities generally are included on the balance
sheet. Operating statements of these funds present increases (i.e. ,
revenues and other financing sources) and decreases (i.e. , expenditures
and other financing uses) in net current assets.
Governmental funds, expendable trust funds, and agency funds utilize 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.
13
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D. )
SEPTEMBER 30, 1992
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Basis of Accounting (Cont'd. )
All proprietary funds are accounted for on a flow of economic resources
measurement focus. With this measurement focus, all assets and all
liabilities associated with the operation of these funds are included on
the balance sheet. Fund equity (i.e. , net total assets) is segregated
into contributed capital and retained earnings components. Proprietary
fund-type operating statements present increases (e.g. , revenues) and
decreases (e.g. , expenses) in net total assets.
Proprietary funds utilize the accrual basis of accounting. Under the
accrual basis of accounting, revenues are recognized in the 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 $2,213,540 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.
14
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Budget Policies (Cont'd. )
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.
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.
15
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D. )
SEPTEMBER 30, 1992
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Plant and Eauinment - 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.
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 ended September 30, 1992, the City's proprietary funds
incurred a total of $1,719,769 of revenue bond interest costs. of this
amount, $1, 190,538 was capitalized on construction projects and $529,231
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.
16
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
General Fixed Assets (Cont'd. )
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, Rental Rehabilitation Program, and the Home
Investment Partnership Agreement Program.
Each Federal grant is accounted for in a separate special revenue fund.
State grant revenues received for purposes normally financed through the
general government are accounted for within the General Fund.
Reserves and Designations
Portions of fund equity are segregated for future use, and are therefore
not available for future appropriation or expenditure. Amounts reserved
for revenue bond debt service and retirement represent portions of fund
equity which are required to be segregated in accordance with the City's
bond ordinances. Amounts reserved for inventory and prepaid items have
already been expended and represent a portion of the fund balance that is
not available for future expenditures. Amounts reserved for encumbrances
are commitments for materials and services on purchase orders and
contracts which are unperformed.
Designations of unreserved fund balances in governmental funds indicate
City management's tentative plans for use of financial resources in a
future period.
Transactions Between Funds
Transactions between funds that would be treated as revenues,
expenditures, or expenses if they involved organizations external to the
governmental unit are accounted for as revenues, expenditures, or expenses
in the funds involved. Transactions which constitute reimbursements to
a fund for expenditures or expenses initially made from that fund which
were properly applicable to another fund are recorded as expenditures or
expenses in the fund that is reimbursed.
17
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
Transactions Between Funds (Cont'd. )
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. Upon leaving the employment of the City, employees will be paid for
unused vacation days which they have accrued.
Sick leave is earned at the rate of 4.62 hours per pay period up to a
maximum of ninety days. Additionally, police officers and firefighters
may accumulate an unlimited number of sick leave days while employed with
the City. Upon termination, police officers and firefighters are
compensated for up to 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.
18
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT'D. )
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 General Purpose Financial Statements
Total columns on the general purpose 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.
Note 3 - FUND DEFICITS
Enterprise Funds
At September 30, 1992, the Airport Fund had a deficit retained earnings
balance of $325,352. The intent of management is that this deficit be
recovered by transfers from other funds during future years.
At September 30, 1992, the Transit Fund had a deficit retained earnings
balance of $203,799. 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, 1992, the Internal Service Fund had a deficit retained
earnings balance of $1,239,269. 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, 1992, the total amount of the City's demand and time
deposits per the general ledgers was $7,771,117, and the total amount per
the City's September 30, 1992 bank statements was $8,297,582. The entire
amount of the year-end bank statement balances was covered by federal
depository insurance or by U.S. Government Securities held as collateral
by the City's agent in the City's name.
19
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 4 - DEPOSITS AND INVESTMENTS (CONT'D. )
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.
Category Carrying Market
Description 1 2 3 Amount Value
Public Funds
Investment Pool $30,419,346 $ - $ - $30,419,346 $30,814,798
Repurchase
Agreements 95,000 - - 95,000 97,652
U.S. Government
Securities 5,898,949 - - 5,898,949 6,028,424
Subtotal 36,413,295 - - 36,413,295 36,940,874
Assets of Deferred
Compensation Fund N/A N/A N/A 1,577,763 1,577,763
Total $36,413,295 $ - S - $37,991,058 $38,518,637
20
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 5 - RECEIVABLES
Receivables at September 30, 1992 consist of the following:
Special Debt Capital Internal Trust
General Revenue Service Projects Enterprise Service and Agency Total
Receivables:
Taxes and
assessments $1,483,348 $ 279,551 $346,849 $238,496 $ - $ - $2,387,390 $ 4,735,634
Customer and trade - - - - 1,748,281 - - 1,748,281
Other City funds 230,626 72,677 26,209 - - - - 329,512
N Government agencies 813,321 1,857,209 - 32,742 2,257,121 - 17,812 4,978,205
1J Other 310,202 3,312 - - 191,743 11,984 - 517,241
Gross receivables 2,837,497 2,212,749 373,058 271,238 4,197,145 11,984 2,405,202 12,308,873
Less: Allowance for
uncollectible accounts ( 642,223) - ( 150,170) - - - - ( 792,393)
Net total receivables $2,195,274 $2,212,749 $222,888 $271,238 $4,197,145 $11,984 $2,405,202 $11,516,480
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 6 - 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, 1992 was
$.66363 per $100 which means that the City has a tax margin of $1.58637 per
$100, and could raise up to $35,052,338 additional tax revenue a year from the
present assessed valuation of $2,209,594,077 before the limit is reached.
The City serves as agent in assessing and collecting ad valorem taxes for the
Wichita Falls Independent school District and the Wichita County Education
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 County Education District
totaled $2,378, 163 and $2,416,852 at September 30, 1992 and 1991, respectively,
and are reflected in the Tax Collection Fund in the agency fund group.
Note 7 - 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 $ 3,051,540
Investments 64,700
For Capital Improvements:
Cash and cash equivalents 4,176,985
Receivables 2,301,493
For Customer Deposits:
Cash and cash equivalents 1,205,555
Total $10,800,273
22
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 8 - PLANT, EQUIPMENT AND DEPRECIATION
A summary of plant and equipment at September 30, 1992 is as follows:
internal General
Enterprise Service Fixed
Funds Fund Assets Total
Land and betterments $ 24,598,680 $ 433,658 $14, 153, 180 $ 39,185,518
Buildings and
improvements 76,451,654 4,008,948 14,403,480 94,864,082
Machinery and
equipment 2,911,483 - 4,958,950 7,870,433
Furniture and
fixtures 45,868 - 419,769 465,637
Motor vehicles and
equipment 3,670 17,854, 124 26,236 17,884,030
Total plant and
equipment in service 104,011,355 22,296,730 33,961,615 160,269,700
Less accumulated
depreciation ( 38,472,809) ( 11,383,514) - ( 49,856,323)
Net plant and
equipment in service 65,538,546 10,913,216 33,961,615 110,413,377
Construction in
progress 31.050,232 - - 31,050,232
Total $ 96,588,778 $10,913.216 $33.961,615 $141,463,609
A summary of changes in general fixed assets for the year ended September 30, 1992
is as follows:
Balance Transfers Balance
October 1, and September 30,
1991 Additions Retirements 1992
Land and betterments $14,574,116 $380,223 $801,159 $14, 153, 180
Buildings and
improvements 14,394,524 8,956 - 14,403,480
Machinery and equipment 4,710,692 251,266 3,008 4,958,950
Furniture and fixtures 421,708 2,165 4, 104 419,769
Motor vehicles and
equipment 56,861 - 30,625 26,236
Total $34.157,901 $642,610 $838,896 $33,961,615
23
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 9 - 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 590
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.
Members can retire at ages 60 and above with 10 or more years of
service or with 25 years of service regardless of age. The plan also
provides death and disability benefits. A member is vested after 10
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 29 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
24
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 9 - RETIREMENT PLANS (CONT'D. )
Texas Municipal Retirement System (Cont'd. )
Fundina Status and Progress (Cont'd. )
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,
1991 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 114.1% of book value as
of December 31, 1991.
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
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, 1992. 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 1991 was $23,473,333,
and the City's contributions were based on a covered payroll of
$18,664,431. Both the City and the covered employees made the required
contributions totaling $2,335,685 for the calendar year 1991. These
contributions consisted of (a) $1,999,725 normal cost (10.71% of
current covered payroll) and (b) $335,960 amortization of the unfunded
25
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 9 - RETIREMENT PLANS (CONT'D. )
Texas Municipal Retirement System (Cont'd. )
Contributions Required and Contributions Made (Cont'd. )
actuarial accrued liability (1.80% of current covered payroll) . The
City contributed $1,306,510 (7.00% of current covered payroll) ;
employees contributed $1,029, 175 (5.51% of current covered payroll) .
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 1992 by 0.95% 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 41-42 of the City's
comprehensive annual financial report. For the three plan years ended
December 31, 1989, 1990, and 1991, respectively, available assets were
sufficient to fund 83.8, 84.6, and 83.3 percent of the pension benefit
obligation. Unfunded pension benefit obligation represented 29.7,
29.8, and 34.5 percent of the annual payroll for employees covered by
the plan for the three years ended December 31, 1989, 1990, and 1991,
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, 1989, 1990, and 1991, the City's contributions
to the plan, all made in accordance with actuarially determined
requirements, were 6.09, 6.78, and 7.00 percent, respectively, of
annual covered payroll.
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.
26
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
t
Note 9 - RETIREMENT PLANS (CONT'D. )
Firemen's Relief and Retirement Fund (Cont'd. 1
Plan Description (Cont'd. 1
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 29 as the pension benefit obligation is a
standardized disclosure measure of the present value of pension
benefits estimated to be payable in the future as a result of employee
service to date. These benefits have been adjusted for the effects of
projected salary increases. The pension benefit obligation is the
actuarial present value of credited projected benefits and 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 public employee
retirement plans. This measure is independent of the actuarial funding
method used to perform the actuarial valuation.
The pension benefit obligation was computed as part of an actuarial
valuation performed as of April 30, 1992. 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 5.5% 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, 1991 was $12,835, 111.
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. The actuary certifies that the
contribution commitments by the firemen and the City provide an
adequate financing arrangement. Using the entry age actuarial cost
method, the plan's normal cost is determined as a percentage of
payroll. The excess of the total contribution rate over the normal
27
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 9 - RETIREMENT PLANS (CONT'D. )
Firemen's Relief and Retirement Fund (Cont'd. )
Contributions Required and Contributions Made (Cont'd. 1
cost rate is used to amortize the plan's unfunded actuarial accrued
liability, and the number of years needed to amortize the plan's
unfunded actuarial accrued liability is determined using a level
percentage of payroll method. For the plan in effect on April 30,
1992, the normal cost is 12.68% of pay and the amortization period is
approximately 12 years.
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, 1991, the total
and covered payroll was $3,917, 100, resulting in contributions of
$352,539 (9.0% of covered payroll) by the City and $352,539 (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 43-44 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,
1992. For the years ended April 30, 1990 and April 30, 1992,
respectively, which is the latest obtainable information, available
assets were sufficient to fund 78.9% and 84.8% of the pension benefit
obligation. Unfunded pension benefit obligation represented 65.9% and
52.4% of the annual payroll for employees covered by the Fund for the
years ended April 30, 1990 and April 30, 1992. 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,
1989, 1990 and 1991, 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.
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:
28
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 9 - RETIREMENT PLANS (CONT'D. )
Actuarial Present Value of Benefits (Cont'd. )
Texas
Municipal Firemen's Total
Retirement Relief and (Memorandum
System Retirement Only)
Date of last valuation or December 31, April 30,
valuation update 1991 1992
Pension benefit obligation:
Retirees and beneficiaries
receiving benefits and terminated
employees not yet receiving
benefits $ 4,472,802 $ 5,572,362 $10,045, 164
Current employees:
Accumulated employee
contributions including
allocated invested earnings 13,462,898 3, 133,749 16,596,647
Employer-financed vested 17,909, 127 3,570,030 21,479,157
Employer-financed nonvested 2,758,212 1,212,617 3,970,829
Total pension benefit obligation 38,603,039 13,488,758 52,091,797
Net assets available for
benefits, at book value 32,169,524 11,436,828 43,606,352
Unfunded pension benefit
obligation $ 6.433,515 $ 2,051,930 $ 8,485,445
Note 10 - DEFERRED COMPENSATION PLAN
The City offers its employees a deferred compensation plan created in accordance
with Internal Revenue Code Section 457. The plan, available to all city
employees, permits them to defer a portion of their salary until future years.
The deferred compensation is not available to the employees until termination,
retirement, death, or an unforeseen emergency.
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.
29
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 10 - 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 11 - 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 in Section J50 of the
Codification of Governmental Accounting and Financial Reporting Standards.
The remaining debt payable to the U.S. Government is classified as
follows:
September 30,
1992 1991
Long-term $1,024, 097 $1,042, 169
Current portion in other
liabilities 18,072 17,503
Total $1,042, 169 $1,059,672
Note 12 - 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 $9,096 and $11,055 for the fiscal years ended September 30,
1992 and 1991, respectively.
30
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 13 - DESCRIPTION OF LEASING ARRANGEMENTS
The City has entered into 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 various
times through 1994.
Capital Leases
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, 1992:
Year ending september 30:
1993 $ 16,371
1994 14,917
1995 -
1996 -
1997 -
Total minimum lease payments 31,288
Less: Amount representing interest 421
Present value of minimum lease
payments (1) $ 30,867
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, 1992:
Year ending September 30:
1993 $ 20,800
1994 9,775
1995 1
1996 1
1997 1
Later years 11
Total minimum payments required (2) $ 30,589
The following schedule shows the composition of total rental expenses for
all operating leases:
31
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 13 - DESCRIPTION OF LEASING ARRANGEMENTS (CONT'D. )
Year Ending
September 30,
1992 1991
Minimum rentals $117,832 $133,202
Contingent rentals 9,096 11,055
Total rentals $126,928 $144,257
(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 14 - LONG-TERM DEBT
The following is a summary of changes in long-term obligations of the City for the
year ended September 30, 1992:
Obligations Obligations
outstanding New obligations outstanding
October 1, obligations Retired September 30,
1991 Incurred or Refunded 1992
General Long-Term Debt:
General Obligation
Bonds payable $19,615,000 $ 4,000,000 $ 755,000 $22,860,000
Accrued vacation and
sick leave 3,243,767 82,637 - 3,326,404
Capital leases payable 46,491 - 15,624 30,867
Claims and judgments
payable 78.008 229.312 - 307,320
Total general
long-term
debt 22,983,266 4,311,949 770,624 26,524,591
Proprietary Fund Debt:
Revenue Bonds payable 45,268,467 193,049 725,000 44,736,516
Payable to U.s.
Government 1,059.672 - 17,503 1,042.169
Total proprietary
fund debt 46,328, 139 193,049 742,503 45,778,685
Total long-term
liabilities $69,311,405 $ 4,504,998 $1,513, 127 $72,303,276
32
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 14 - LONG-TERM DEBT (CONT'D. )
Bonds payable at September 30, 1992 are comprised of the following individual
issues:
Range of Final Annual Bonds
Interest Maturity Serial Bonds Outstanding
Rates Date Payments Authorized at 9/30/92
General Obligation Bonds:
1986 General Obligation
Refunding Bonds 5.00% - 9/01/06 $305,000 to $22,540,000 $18,860,000
8.15% $2, 115,000
1992 General Obligation
Refunding Bonds 2.75% - 9/01/10 $80,000 to 4,000,000 4,000,000
5.75% $635,000
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 20,790,000
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 23,946,516
7.72% $3,665,000
Total All Bonds $77, 155,000 $67,596,516
The 1986 and 1992 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, 1992, $656,653 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.
33
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 14 - LONG-TERN DEBT (CONT'D. )
The City's current year payments for debt service of general obligation bonds and
revenue bonds included $4,331,915 of interest.
The annual requirements to pay principal and interest on the bond obligations
outstanding as of September 30, 1992 are as follows:
Year Ending General obligation Revenue
September 30: Principal Interest Principal Interest Total
1993 $ 885,000 $ 1,709,307 $ 1,075,000 $ 2,935,428 $ 6,604,735
1994 960,000 1,635,297 1, 150,000 2,884,203 6,629,500
1995 1,025,000 1,571,897 1,230,000 2,805,088 6,631,985
1996 1,090,000 1,501,417 1,310,000 2,718,643 6,620,060
1997 1, 170,000 1,423,342 1,415,000 2,624,512 6,632,854
1998-2002 7,320,000 5,655,627 8,765,000 11,409,652 33,150,279
2003-2007 8,745,000 2,316,738 12,605,000 7,570,829 31,237,567
2008-2012 1,665,000 180,465 17,186,516 2,722,480 21,754,461
Total $22,860,000 $15,994,090 $44,736,516 $35,670,835 $119,261,441
Note 15 - 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, 1992, the following outstanding
bonds are considered defeased:
Amount
General obligation Bonds:
1980 General obligation Bonds $ 1,800,000
1985 General obligation Refunding
and Improvement Bonds 15,405,000
Total Defeased General obligation Bonds 17,205,000
Revenue Bonds:
1973 Water and Sewer Revenue Bonds 100,000
1978 Water and Sewer Revenue Bonds 360,000
1980 Water and Sewer Revenue Bonds 450,000
1984 Water and Sewer Revenue Bonds 16,040,000
Total Defeased Revenue Bonds 16,950,000
Total Defeased Bonds $34,155.000
34
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 16 - INDIVIDUAL FUND DISCLOSURES
Interfund receivable and payable balances at September 30, 1992 are as follows:
Interfund Interfund
Receivables Payables
General Fund $230,626 $ 72,677
Special Revenue Funds:
Community Development Block
Grant Fund - 118,876
Miscellaneous Special
Revenue Fund 72,677 -
Debt Service Fund 26,209 -
Capital Projects Fund:
1992 Multi-Purpose Events
Center Project - 26,209
Enterprise Fund:
Transit Fund - 111,750
Total $329,512 $329,512
operating transfers between funds during the year were as follows:
Operating Operating
Transfer In Transfer Out
General Fund $ 964,505 $ 212,443
Special Revenue Funds:
Civic/Community Promotion
Fund 152,733 -
Hotel/Motel Tax Fund - 152,733
Miscellaneous Special
Revenue Fund - 212,000
Capital Projects Fund:
1992 Multi-Purpose Events
Center Project 212,000 -
Enterprise Funds:
Transit Fund 212,443 -
Sanitation Fund - 380,692
Water and Sewer Fund - 271,379
Internal Service Fund - 312,434
Total $1,541,681 $1,541,681
35
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 17 - 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, 1992 is as follows:
Total
Water Enterprise
Airport Transit Sanitation and Sewer Funds
Operating revenues $ 211,470 $ 127,191 $5,223,916 $ 12,700,457 $ 18,263,034
Depreciation and amortization 88,768 14,645 58,194 1,834,800 1,996,407
Operating income (loss) ( 61,157) ( 536,511) 111,036 1,738,091 1,251,459
w Contributions from operating grants - 567,666 - - 567,666
rn
Operating transfers:
In - 212,443 -
212,443
Out - - 380,692 271,379 652,071
Net income (loss) ( 42,660) 247,598 ( 150,150) 1,643,669 1,698,457
Current capital:
Contributions - - - 176,208 176,208
Plant and equipment:
Additions 1,850 262,242 - 10,209,595 10,473,687
Retirements 844 844
Transfers in (out) - ( 262,242) - - ( 262,242)
Net working capital 350,898 ( 26,295) 2,649,837 7,775,223 10,749,663
Total assets 1,994,877 761,350 5,367,298 111,537,040 119,660,565
Bonds and other long-term liabilities - - - 46, 191, 168 46,191,168
Total equity 1,952,033 622,539 5, 125,504 61,899,532 69,599,608
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 18 - CONTRIBUTED CAPITAL - PROPRIETARY FUNDS
During the year ended September 30, 1992, 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 $ - $ - $ - $ - $ 271,932 $ 271,932
Developers - fixed assets - - - 176,208 - 176,208
w Total additions - - - 176,208 271,932 448,140
v
Retirement of assets
contributed in prior
years - - - - ( 10,214) ( 10,214)
Contributed capital,
October 1, 1991 2,277,385 826,338 2,907,626 16,454,712 12,497,858 34,963,919
Contributed capital,
September 30, 1992 $2,277,385 $826,338 $2,907,626 $16,630,920 $12,759,576 $35,401,845
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 19 - COMMITMENTS AND CONTINGENCIES
Litigation
The City is a defendant in numerous lawsuits. In the opinion of the
City's management, any liabilities resulting from such suits 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 $3,326,404 at September 30,
1992. 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 for 12 retirees is partially funded by the City.
The City's portion of these costs is recognized as expense when paid. For
the fiscal year ended September 30, 1992, these costs totaled $4,885.
Workmen's Compensation Claims
The City is liable for workmen's compensation claims arising in various
General Fund departments of $97,320 as of September 30, 1992. 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:
38
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 19 - COMMITMENTS AND CONTINGENCIES (CONT'D. )
Contract Commitment With West Texas Utilities Company (Cont'd. 1
City's
Years Ending December 31: Annual Share
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, 1992,
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 $8,950,000 in
project costs as of September 30, 1992. The City is also responsible for
the estimated $2,539,741 of costs necessary to modify the existing Lake
Wichita Dam. These projects are estimated to be completed during the
fiscal year ending September 30, 1994.
39
CITY OF WICHITA FALLS, TEXAS
NOTES TO THE FINANCIAL STATEMENTS (CONT'D.)
SEPTEMBER 30, 1992
Note 19 - COMMITMENTS AND CONTINGENCIES (CONT'D. )
Construction Contracts
At September 30, 1992, 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 $ 8,208
Capital Projects Funds:
1981 G.O. General Improvements $1, 173,705
1985 Holliday Creek Project 3,473,383
Total Capital Projects Funds 4,647,088
Enterprise Funds:
Sanitation Fund $ 446,478
Water and Sewer Fund 1,845,959
Total Enterprise Funds 2.292,437
Total contract commitments $6,947,733
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, Rental Rehabilitation Program, and the Home
Investment Partnership Agreement 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.
Note 20 - SUBSEQUENT EVENTS
On January 12, 1993, the City Attorney negotiated a settlement of $210,000
to terminate a lawsuit against the City. This lawsuit resulted from a
motor vehicle accident involving a city employee. The settlement was
approved for payment by the City Council on January 19, 1993 and was paid
from the General Fund on January 20, 1993. This amount is shown as a
liability in the General Long-Term Debt Account Group as of September 30,
1992.
40
REQUIRED SUPPLEMENTARY
INFORMATION
TEXA
EXHIBIT B-1
CITY OF WICHITA FALLS, TEXAS
TEXAS MUNICIPAL RETIREMENT SYSTEM - ANALYSIS OF FUNDING PROGRESS -
LAST TEN PLAN YEARS (UNAUDITED)***
(6)
(4) Unfunded Pension
(1) (3) Unfunded (5) Benefit Obligation
Net Assets (2) Percentage Pension Benefit Annual as a Percentage
Plan Available Pension Benefit Funded Obligation Covered of covered Payroll
Year For Benefits* Obligation (1) + (2) (2) - (1) Payroll (4) + (5)
1982** $11,239,691 $12,816,960 87.7% $1,577,269 $13,340,527 11.8%
1983 12,944,791 15,224,110 85.0% 2,279,319 13,882,452 16.4%
1984 14,902,005 18, 130,886 82.2% 3,228,881 14,185,255 22.8%
1985 17,136,495 21,280,661 80.5% 4, 144,166 15,040,953 27.6%
1986 19,097,798 23,567,091 81.0% 4,469,293 15,593,759 28.7%
1987 21,932, 183 27,236,608 80.5% 5,304,425 16, 147,248 32.9%
1988 24,462,797 29, 184, 181 83.8% 4,721,384 17,148,324 27.5%
1989 27,272,637 32,538,508 83.8% 5,265,871 17,737,825 29.7%
1-' 1990 30,732,508 36,338,409 84.6% 5,605,901 18,827,230 29.8%
1991 32,169,524 38,603,039 83.3% 6,433,515 18,664,431 34.5%
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 9. )
** 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
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
1991 7.00% 1,306,510 1,029,175 3,301,314 5,636,999
Expenses By Type
Aggregate
Plan Benefit Administrative
Year Payments Expenses Refunds Total
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
1991 3,711,425 20, 134 468,424 4, 199,983
Contributions were made in accordance with actuarially-determined contribution
requirements.
* See note on page 41 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.
42
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) + (2) (2) - (11 Payroll (4) + (5)
4/30/88 $8,176,505 $10,534,610 77.6% $2,358, 105 $3,447,967 68.4%
4/30/89 8,473,929 10,676,806 79.4% 2,202,877 3,608,223 61.1%
4/30/90** 9,281,696 11,770,360 78.9% 2,488,664 3,774,905 65.9%
4/30/91*** - - - - - -
4/30/92 11,436,828 13,488,758 84.8% 2,051,930 3,917, 100 52.4%
w 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 9. )
** 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 last actuarial valuation was 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
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
1991 9.0% 352,539 352,539 1, 189,239 1,894,317
Expenses By Type
Aggregate
Plan Benefit Administrative
Year Payments Expenses Refunds Total
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
1991 599,409 21,845 18,543 639,797
Contributions were made in accordance with actuarially-determined contribution
requirements.
* see note on page 43 for a discussion of the change in employee benefit provisions
approved as of April 30, 1990.
44
COMBINING and INDIVIDUAL
FUND FINANCIAL STATEMENTS
GENERAL FUND
The General Fund is used to account for all revenues and expenditures
not accounted for in other funds. It receives a greater variety and
amount of revenues and finances a wider range of governmental activities
than any other fund. Major functions financed by the General Fund
include: Administrative; Finance; Police; Fire; Protective Inspections,
such as building, plumbing and electrical; Traffic Engineering; Public
Works Engineering; Street Maintenance; Health; Community Enrichment
Activities such as Parks, Recreation, and Library; and Planning.
,
Wichita .
TEXAS
EXHIBIT C-1
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1992 AND 1991
1992 1991
ASSETS
Cash and cash equivalents $10,602,448 $10,011,849
Receivables:
Taxes and assessments (less $726,420
and $642,223 allowance for uncollectible
accounts) 841, 125 1,003,575
other City funds 230,626 372, 103
Government agencies 813,321 808,074
Other 310,202 142,770
Inventory 58,911 49,037
Prepaid items 84,532 90,677
other assets 100 2,837
Total assets $12,941,265 $12,480,922
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 393,843 $ 416,019
Accrued payroll 449,392 304, 195
Accrued vacation and sick leave 100,000 100,000
Payable to other City funds 72,677 -
Payable to government agencies 77,969 69,520
Other liabilities 536, 135 524, 150
Deferred revenue 779,856 916,211
Total liabilities 2,409,872 2,330,095
Fund balance:
Reserved for encumbrances 295,860 1,018,427
Reserved for inventory and prepaid items 143,443 139,714
Unreserved:
Designated for subsequent years expenditures 2,750,000 2,500,000
Undesignated 7,342,090 6,492,686
Total fund balance 10,531,393 10, 150,827
Total liabilities and fund balance $12,941,265 $12,480,922
45
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, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1992
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Revenues:
Taxes:
Ad valorem taxes $13, 163,778 $13,404,278 $ 240,500 $13,265, 121
Penalties and interest 180,000 189, 157 9, 157 190,635
City sales tax 6,950,000 7, 171,003 221,003 6,859,867
Franchise taxes 2,963,000 3,505,078 542,078 2,943,295
Other taxes 295,000 266,271 ( 28,729) 342,470
Total taxes 23,551,778 24,535,787 984,009 23,601,388
Charges for services:
Golf, tennis and
recreation fees 71, 150 82,235 11,085 71,909
Tax collection fees 111,571 124, 151 12,580 109,275
Administrative overhead
reimbursements 548,705 548,705 - 566,577
Data processing services 143,585 143,585 - 153,532
Other service charges 156,610 172,250 15,640 167,420
Total charges
for services 1,031,621 1,070.926 39,305 1,068,713
Licenses and permits:
Building permits 85,000 109, 111 24, 111 77,384
Electrical and plumbing 78,000 79,621 1,621 76,794
Health and animal control 320,895 339,071 18, 176 326,648
other licenses and
permits 79,698 77, 102 ( 2,596) 74, 146
Total licenses and
permits 563,593 604,905 41,312 554,972
Fines and forfeitures:
Municipal Court 795,735 803,995 8,260 747, 896
Forfeitures and
confiscated funds 1,000 76,388 75,388 9,097
Library 23,000 24,198 1, 198 24, 118
Total fines and
forfeitures 819.735 904,581 84,846 781, 111
46
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, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1992
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Revenues (Cont'd. ) :
Intergovernmental revenue:
operating grants 1,362, 110 1,045,881 ( 316,229) 916,504
Wichita Falls School
District 297,262 293,853 ( 3,409) 268,000
Wichita County 41,000 41,000 - 41,000
Total intergovern-
mental revenue 1,700.372 1,380.734 ( 319,638) 1,225,504
Miscellaneous revenue:
Parking meters 3,200 2,727 ( 473) 2,955
Rentals and concessions 114,289 133,325 19,036 106,624
Interest 1, 101,500 658,144 ( 443,356) 1,054,546
Sale of fixed assets 33,500 37,526 4,026 16,976
other 24,200 93,744 69,544 74,114
Total miscellaneous
revenue 1,276,689 925,466 ( 351,223) 1,255,215
Total revenues 28,943,788 29,422,399 478,611 28,486.903
Expenditures:
Administrative services
division:
Mayor and City Council 82, 151 72,701 9,450 61,385
City Manager 259,331 247,892 11,439 268,985
Legal 303,383 302,629 754 304,056
Personnel/Risk Management 388, 159 372,597 15,562 332,965
City Clerk 107,592 100,457 7, 135 88,786
Martin Luther King Center 77, 194 75,956 1,238 75,381
Farmer's Market 4, 117 3,026 1,091 16,707
Library 628,322 599,704 28,618 598,025
Property Management 50,371 50,363 8 48,081
Data Processing 556,905 543,790 13, 115 618,450
Community Information 98, 118 96,610 1,508 85,903
Nondepartmental 1,293,642 1,177,630 116,012 1,628,055
Municipal Court 358, 185 321,592 36,593 400,730
Building Maintenance 529,511 497,253 32,258 471,210
Purchasing 43,239 40,020 3,219 38,390
Total administrative
services division 4,780,220 4,502,220 278,000 5,037, 109
47
EXHIBIT C-2
(Page 3 of 4)
CITY OF WICHITA FALLS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1992
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Expenditures (Cont'd. ) :
Police division:
Police 9,495.254 8,970,402 524,852 8,552,989
Fire division:
Fire 5,575,475 5,558,991 16,484 5.393,852
Parks and recreation
division:
Recreation 401,957 378,314 23,643 572,267
Park maintenance 2, 190,855 2,031, 135 159,720 1,737,866
Cemetery 164,664 146.093 18,571 123,446
Total parks and
recreation
division 2,757,476 2,555,542 201,934 2,433,579
Accounting/finance division:
Accounting/finance 255, 189 255,029 160 250,560
Tax 207,702 207,700 2 166,900
Total accounting/
finance division 462,891 462,729 162 417,460
Planning division:
Planning 257,983 229,485 28,498 269,972
Public works division:
Engineering 1,521,685 1,369,687 151,998 1,996,067
Inspection 378, 139 377,913 226 393,356
street 2.517,330 2.496,282 21,048 2,576,497
Total public works
division 4.417, 154 4,243,882 173,272 4,965,920
Health division:
Administration 186,423 183, 107 3,316 172,577
Nursing 1,274,085 1,090,956 183, 129 901,658
Environmental health 295, 156 279, 165 15,991 281,537
Water pollution and
food control 240,623 231,775 8, 848 275,307
Vector control and
laboratory 383,509 371,482 12,027 324,684
Total health
division 2.379,796 2, 156,485 223,311 1,955,763
48
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, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1992
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Expenditures (Cont'd. ) :
Traffic and transportation
division:
Traffic engineering 1, 163,001 1,114,159 48,842 1,181,922
Total expenditures 31,289,250 29,793,895 1,495,355 30,208,566
Excess of revenues over
(under) expenditures ( 2,345,462) ( 371,496) 1,973,966 ( 1,721,663)
Other financing sources (uses) :
Operating transfers in 964,505 964,505 - 966,084
Operating transfers out ( 222,397) ( 212,443) 9,954 ( 161,210)
Total other financing
sources (uses) 742, 108 752,062 9,954 804,874
Excess of revenues and other
sources over (under)
expenditures and other uses (S 1,603,354) 380,566 $1,983,920 ( 916,789)
Fund balance - beginning 10, 150,827 11,067,616
Fund balance - ending $10,531,393 $10,150,827
49
Wichlita
TEXAS U.
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:
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.
Home Investment Partnership Agreement Fund,
The Home Investment Partnership Agreement Fund accounts for federal
funds received to provide home ownership opportunities to low income,
first-time homebuyers through the acquisition, rehabilitation and
resale of single-family dwellings that are currently owned by
governmental agencies.
EXHIBIT D-1
CITY OF WICHITA FALLS, TEXAS
SPECIAL REVUE FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1992
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1991
Hone
Civic/ Hotel/ Community Miscellaneous Rental Investment
Community Motel Development Special Section 8 Rehabilitation Partnership Totals
Promotion Tax Block Grant Revenue Housing Program Agreement 1992 1991
ASSETS
Cash and cash equivalents $11,763 $ 99,930 $ - $1,003,716 $231,627 $ - $ - $1,347,036 $1,269,868
Receivables:
Taxes and assessmenta - 279,551 - - - - - 279,551 200,720
Other City funds - - - 72,677 - - - 72,677 -
Government agencies - - 1,050,999 - - 56,210 750,000 1,857,209 1,120,038
Other 2,862 - - 450 - - - 3,312 3,869
Prepaid items - - 18,000 - 119,964 - - 137,964 137,698
Other assets - - 3,000 - - - 3,000 3,000
Total assets $14,625 $379,481 $1,068,999 $1,079,843 $351,591 1 56,210 $750,000 $3,700,749 $2,735,193
LIABILITIES AND FUND BALANCE
VI
Liabilities:
O Accounts payable - trade $10,929 $ - $ 37,554 $ 5,014 $ 6,408 $ - $ - $ 59,905 $ 100,190
Accrued payroll 3,139 - 4,524 - 2,929 - - 10,592 7,096
Payable to other City funds - - 118,876 - - - - 118,876 176,270
Payable to government agencies - - - - 39,186 - - 39,186 13,795
Other liabilities 125 555 187 16,729 618 _ - 18,214 66,292
Total liabilities 14,193 555 161,141 21,743 49,141 - - 246,773 363,643
Fund balance:
Reserved for encumbrances 432 - 15,769 12,916 - - - 29,117 499,099
Reserved for prepaid items - - 18,000 - 119,964 - - 137,964 137,698
Unreserved:
Designated for subsequent
years expenditures - - 874,089 1,045,184 182,486 56,210 750,000 2,907,969 1,451,383
Undeeignated - 378,926 - - - - - 378,926 283,370
Total fund balance 432 378,926 907,858 1,058,100 302,450 56,210 750,000 3,453,976 2,371,550
Total liabilities and fund balance $14,625 $379,481 $1,068,999 $1,079,643 $351,591 $ 56,210 $750,000 $3,700,749 $2,735(193
EXHIBIT D-2
CITY OF WICHITA FALLS, TEXAS
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1992
WITH COMPARATIVE ACTUAL TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1991
Totals
Home 1992 1991
Civic/ Hotel/ Community Miscellaneous Rental Investment Variance -
Community Motel Development Special Section 8 Rehabilitation Partnership Favorable
Promotion Tax Block Grant Revenue Housing Program Agreement Actual Budget (Unfavorable) Actual
Revenues:
Taxes $ - $669,789 $ - $ - $ - $ - $ - $ 669,789 $ 577,938 $ 91,851 $ 711,398
Charges for services - - - 172,392 - - - 172,392 176,386 ( 3,994) 158,533
Fines and forfeiture. - - - 179,913 - - -
179,913 98,175 81,738 32,907
Intergovernmental revenue - - 1,391,000 - 1,691,947 - 750,000 3,832,947 3,997,805 ( 164,858) 2,959,208
Miscellaneous revenue 203,313 - 7,424 215,752 - - - 426,489 346,175 80,314 420,497
Total revenues 203,313 669,789 1,398,424 568,057 1,691,947 - 750,000 5,281,530 5,196,479 85,051 4,282,543
Expenditures:
Current:
Administrative services
division 361,186 421,500 303,771 38,866 1,650,953 22,788 - 2,799,064 3,927,287 1,128,223 2,722,868
Parks and recreation
division - - 45,990 201,364 - - - 247,354 608,357 361,003 298,818
Public works division - - 793,015 - - - - 793,015 1,578,731 785,716 714,428
Ln
Health division - - 93,139 - - - - 93,139 101,452 8,313 94,930
1-, Capital outlay - - 20,538 30,243 3,751 - - 54,532 439,108 384,576 163,344
Total expenditures 361,18E 421,500 1,256,453 270,473 1,654,704 22,788 - 3,987,104 6,654,935 2,667,831 3,994,388
Excess of revenues over
(under) expenditures ( 157,873) 248,289 141,971 297,584 37,243 ( 22,788) 750,000 1,294,426 ( 1,458,456) 2,752,882 288,155
Other financing sources (uses):
Operating transfers in 152,733 - - - - - - 152,733 152,733 - 152,893
Operating transfers out - ( 152,733) - - - -
Total other ( 212,000) ( 364,733) ( 364,733) - ( 152,893)
financing sources
(uses) 152,733 ( 152,733) - ( 212,000) - - - -( 212,000) ( 212,000) -
Excess of revenues and other
sources over (under)
expenditures and other uses ( 5,140) 95,556 141,971 85,584 37,243 ( 22,788) 750,000 1,082,426 ($1,670,456) $2,752,882 288,155
Fund balance - beginning 5,572 283,370 765,887 972,51E 265,207 78,998 - 2,371,550 2,083,395
Fund balance - endin $1 058,100 $ 302,450 $ 56,210 $750,000 g $ 472 5378,92� $ _907,858 0 i 53,953,97E $2,371,550
EXHIBIT D-3
CITY OF WICHITA FALLS, TEXAS
CIVIC/COMMUNITY PROMOTION FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1992 AND 1991
1992 1991
ASSETS
Cash and cash equivalents $ 11,763 $ 14, 171
Receivables:
Other 2,862 3,869
Prepaid items - 3,638
Total assets $ 14,625 $ 21,678
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 10,929 $ 13,313
Accrued payroll 3, 139 1,843
Other liabilities 125 950
Total liabilities 14, 193 16, 106
Fund balance:
Reserved for encumbrances 432 1,934
Reserved for prepaid items - 3,638
Unreserved:
Undesignated - -
Total fund balance 432 5,572
Total liabilities and fund balance $ • 14,625 $ 21,678
52
EXHIBIT D-4
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, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1992
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Revenues:
Miscellaneous revenue:
Rentals and concessions $ 198,000 $ 203,313 $ 5,313 $ 216,205
other - - - 104
Total revenues 198,000 203,313 5,313 216,309
Expenditures:
Current:
Administrative services
division 392,872 361, 186 31,686 363,630
Excess of revenues over
(under) expenditures ( 194,872) ( 157,873) 36,999 ( 147,321)
other financing sources (uses) :
Operating transfers in 192,938 152,733 ( 40,205) 152,893
Excess of revenues and other
sources over (under)
expenditures and other uses ($ 1,934) ( 5, 140) (S 3,206) 5,572
Fund balance - beginning 5,572 -
Fund balance - ending $ 432 S 5,572
53
EXHIBIT D-5
CITY OF WICHITA FALLS, TEXAS
HOTEL/MOTEL TAX FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1992 AND 1991
1992 1991
ASSETS
Cash and cash equivalents $ 99,930 $ 83,205
Receivables:
Taxes and assessments 279,551 200,720
Total assets $ 379,481 $ 283,925
LIABILITIES AND FUND BALANCE
Liabilities:
Other liabilities $ 555 $ 555
Fund balance:
Unreserved:
Undesignated 378,926 283,370
Total liabilities and fund balance $ 379,481 $ 283,925
54
EXHIBIT D-6
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, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1992
Variance -
Favorable 1991
Budget Actual (unfavorable) Actual
Revenues:
Taxes $ 577,938 $ 669,789 $ 91,851 $ 711,398
Expenditures:
Current:
Administrative services
division 421,500 421,500 - 394,799
Excess of revenues over
expenditures 156,438 248,289 91,851 316,599
Other financing sources (uses) :
Operating transfers out ( 192,938) ( 152.733) 40,205 ( 152,893)
Excess of revenues and other
sources over (under)
expenditures and other uses ($ 36,500) 95,556 $ 132,056 163,706
Fund balance - beginning 283,370 119,664
Fund balance - ending $ 378,926 $ 283,370
55
EXHIBIT D-7
CITY OF WICHITA FALLS, TEXAS
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1992 AND 1991
1992 1991
ASSETS
Receivables:
Government agencies $1,050,999 $1,023,759
Prepaid items 18,000 18, 000
Total assets $1,068,999 $1,041,759
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 37,554 $ 63,315
Accrued payroll 4,524 3,371
Payable to other City funds 118,876 176,270
Other liabilities 187 32,916
Total liabilities 161, 141 275,872
Fund balance:
Reserved for encumbrances 15,769 496,773
Reserved for prepaid items 18,000 18,000
Unreserved:
Designated for subsequent years
expenditures 874,089 251, 114
Total fund balance 907,858 765,887
Total liabilities and fund balance $1,068,999 $1. 041.759
56
EXHIBIT D-8
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, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1992
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Revenues:
Intergovernmental revenue:
Operating grants $ 1,391,000 $ 1,391,000 $ - $ 1,246,000
Miscellaneous revenue:
Other - 7,424 7,424 15,870
Total revenues 1,391,000 1,398,424 7,424 1,261,870
Expenditures:
current:
Administrative services
division 313,707 303,771 9,936 278,644
Parks and recreation
division 72,653 45,990 26,663 33,560
Public works division 1,578,731 793,015 785,716 714,428
Health division 101,452 93, 139 8,313 94,930
Capital outlay 90,529 20,538 69,991 128,879
Total expenditures 2, 157,072 1,256,453 900,619 1,250,441
Excess of revenues over
(under) expenditures ($ 766,072) 141,971 $ 908,043 11,429
Fund balance - beginning 765,887 754,458
Fund balance - ending $ 907,858 $ 765,887
57
EXHIBIT D-9
CITY OF WICHITA FALLS, TEXAS
MISCELLANEOUS SPECIAL REVENUE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1992 AND 1991
1992 1991
ASSETS
cash and cash equivalents $1,003,716 $1,006, 126
Receivables:
Other City funds 72,677 -
Other 450 -
Prepaid items - 357
Other assets 3,000 3,000
Total assets $1,079,843 S1,009,483
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 5,014 $ 5,714
Other liabilities 16,729 31,253
Total liabilities 21,743 36,967
Fund balance:
Reserved for encumbrances 12,916 392
Reserved for prepaid items - 357
Unreserved:
Designated for subsequent years
expenditures 1,045,184 971,767
Total fund balance 1,058, 100 972,516
Total liabilities and fund balance S1,079,843 $1,009,483
58
EXHIBIT D-10
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, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1992 .
variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Revenues:
Charges for services:
Recreation fees $ 176,386 $ 172,392 ($ 3,994) $ 158,533
Fines and forfeitures:
Forfeitures and
confiscated funds 98, 175 179,913 81,738 32,907
Miscellaneous revenue:
Rentals and concessions 54,600 47,858 ( 6,742) 49,269
sale of fixed assets 1,701 1,786 85 449
Interest - 53,490 53,490 65,447
Donations 68,739 57,340 ( 11,399) 46,792
Cemetery perpetual care - 34,200 34,200 19,187
Other 23, 135 21,078 ( 2,057) 7,174
Total miscellaneous
revenue 148, 175 215,752 67,577 188,318
Total revenues 422,736 568,057 145,321 379,758
Expenditures:
Current:
Administrative services •
division 117, 156 38,866 78,290 42,550
Parks and recreation
division 535,704 201,364 334,340 265,258
Capital outlay 344,828 30,243 314,585 34,465
Total expenditures 997,688 270,473 727,215 342,273
Excess of revenues over
(under) expenditures ( 574,952) 297,584 872,536 37,485
other financing sources (uses) :
Operating transfers out ( 212,000) ( 212,000) - -
Excess of revenues and other
sources over (under)
expenditures and other uses (S 786,952) 85,584 S 872,536 37,485
Fund balance - beginning 972,516 935,031
Fund balance - ending $ 1,058, 100 $ 972,516
59
EXHIBIT D-11
CITY OF WICHITA FALLS, TEXAS
SECTION 8 HOUSING FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1992 AND 1991
1992 1991
ASSETS
Cash and cash equivalents $ 231,627 $ 166,366
Receivables:
Government agencies - 1, 831
Prepaid items 119,964 115,703
Total assets $ 351,591 $ 283,900
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 6,408 $ 2,398
Accrued payroll 2,929 1,882
Payable to government agencies 39,186 13,795
Other liabilities 618 618
Total liabilities 49, 141 18,693
Fund balance:
Reserved for prepaid items 119,964 115,703
Unreserved:
Designated for subsequent years
expenditures 182,486 149,504
Total fund balance 302,450 265,207
Total liabilities and fund balance $ 351,591 $ 283,900
60
EXHIBIT D-12
CITY OF WICHITA FALLS, TEXAS
SECTION 8 HOUSING FUND
I STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
I FOR THE YEAR ENDED SEPTEMBER 30, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
II
1992
Variance -
Favorable 1991
II
Budget Actual (Unfavorable) Actual
Revenues:
Intergovernmental revenue:
IIOperating grants $ 1,856,805 $ 1,691,947 ($ 164,858) $ 1,631,104
Other
104
Total revenues 1,856,805 1,691,947 ( 164,858) 1,631,208
Expenditures:
Current:
Administrative services
division 1,853,054 1,650,953 202, 101 1,585,276
Capital outlay 3,751 3,751 - -
IITotal expenditures 1, 856,805 1,654,704 202, 101 1,585,276
Excess of revenues over
expenditures $ - 37,243 $ 37,243 45,932
Fund balance - beginning 265,207 219,275
Fund balance - ending $ 302,450 $ 265,207
I
61
EXHIBIT D-13
CITY OF WICHITA FALLS, TEXAS
RENTAL REHABILITATION PROGRAM FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1992 AND 1991
1992 1991
ASSETS
Receivables:
Government agencies $ 56,210 $ 94,448
Total assets $ 56,210 $ 94,448
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ - $ 15,450
Fund balance:
Unreserved:
Designated for subsequent years
expenditures 56,210 78,998
Total liabilities and fund balance $ 56,210 $ 94,448
62
EXHIBIT D-14
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, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1992
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Revenues:
Intergovernmental revenue:
Operating grants S - S - S - S 82,000
Expenditures:
Current:
Administrative services
division 78,998 22,788 56,210 57,969
Excess of revenues over
(under) expenditures IS 78,998) ( 22,788) S 56,210 24,031
Fund balance - beginning 78,998 54,967
Fund balance - ending S 56,210 S 78,998
63
EXHIBIT D-15
CITY OF WICHITA FALLS, TEXAS
HOME INVESTMENT PARTNERSHIP AGREEMENT FUND
BALANCE SHEET
SEPTEMBER 30, 1992
ASSETS
Receivables:
Government agencies $ 750,000
Total assets $ 750,000
LIABILITIES AND FUND BALANCE
Liabilities $ -
Fund balance:
Unreserved:
Designated for subsequent years
expenditures 750,000
Total liabilities and fund balance $ 750,000
64
EXHIBIT D-16
CITY OF WICHITA FALLS, TEXAS
HOME INVESTMENT PARTNERSHIP AGREEMENT FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1992
1992
Variance -
Favorable
Budget Actual (Unfavorable)
Revenues:
Intergovernmental revenue:
Operating grants $ 750,000 $ 750,000 $ -
Expenditures:
Current:
Administrative services
division 750,000 - 750,000
Excess of revenues over expenditures $ - 750,000 $ 750,000
Fund balance - beginning -
Fund balance - ending $ 750,000
65
WichittIals
TEXAS
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.
1
t
EXHIBIT E-1
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1992 AND 1991
1992 1991
ASSETS
Cash and cash equivalents $ 643,719 $ 562,296
Receivables:
Taxes (net of allowance for uncollectible
taxes of $150, 170 and $143,000) 196,679 249,740
Other City funds 26,209 -
Total assets $ 866,607 $ 812,036
LIABILITIES AND FUND BALANCE
Liabilities:
Other liabilities $ 26,209 $ -
Deferred revenue 183,745 230,491
Total liabilities 209,954 230,491
Fund balance:
Designated for debt service 656,653 581,545
Total liabilities and fund balance $ 866.607 $ 812,036
66
II
EXHIBIT E-2
IICITY OF WICHITA FALLS, TEXAS
DEBT SERVICE FUND
I
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL
I FOR THE YEAR ENDED SEPTEMBER 30, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
I
1992
Variance -
Favorable 1991
I Budget Actual (Unfavorable) Actual
Revenues:
Taxes:
II
Ad valorem taxes $ 2,292,000 $ 2,285,724 ($ 6,276) $ 2,064,874
Miscellaneous:
Interest - 76,374 76,374 108,460
Total revenues 2,292,000 2,362,098 70,098 2,173,334
II
Expenditures:
Principal retirement 755,000 755,000 - 710,000
I Interest and paying
agent fees 1,537,000 1,531,990 5,010 1,576,724
Total expenditures 2,292,000 2,286,990 5,010 2,286,724
IExcess of revenues over
(under) expenditures $ - 75, 108 $ 75,108 ( 113,390)
II
Fund balance - beginning 581,545 694,935
Fund balance - ending $ 656,653 $ 581,545
I
II
I
II
II
67
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 seven
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.
1992 Multi-Purpose Events Center Proiect
' This fund was established to account for the proceeds of the series
1992 Certificates of Obligation which will be used by the City to
finance a portion of its contribution to the construction of a Multi-
Purpose Events Center to be located in Wichita Falls, Texas.
tCapital 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
COlBBINING BALANCE SHEET
SEPTEMBER 30, 1992
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1991
1985 1992
1980 1981 1981 1982 Holliday Multi-Purpose Capital
General C.O. General G.O. General General Creek Events Center Improvement Totals
Improvements Improvements Improvements Improvements Project Project Assessments 1992 1991
ASSETS
Cash and cash equivalents $441,452 $145,864 $1,798,274 $443,160 $5,148,370 $4,006,100 $626,417 $12,609,637 $10,216,192
Receivables:
Capital improvement assessments - - - - - 238,496 238,496 362,985
Government agencies - - - - - 32,742 - 32,742 -
Total assets 441 452 $145,864 $1,798,274 $443,160 65,148,370 $4,038,842 $864,913 $12,880,875 $10,579,177
LIABILITIES AND FUND BALANCE
CN
CO
Liabilities:
Accounts payable - trade $ - $ - $ - $ - $ - $ 13,331 $ - $ 13,331 $ 25,910
Payable to other City funds - - - - - 26,209 - 26,209 -
Other liabilities - - - 8,792 643 - 4,786 14,221 13,985
Deferred revenue - - - - - - 238,496 238,496 362,985
Total liabilities - - - 8,792 643 39,540 243,262 292,257 402,880
Fund balance:
Reserved for encumbrances - - 1,173,705 - 3,473,383 - - 4,647,088 5,800,273
Unreserved:
Designated for subsequent
years expenditures 441,452 145,864 624,569 434,368 1,674,340 3,999,302 621,631 7,941,530 4,376,024
Total fund balance 441,452 145,864 1,798,274 434,368 5,147.727 3,999,302 621,631 12,588,618 10,176,297
Total liabilities and fund balance $441,452 $145,864 $1,798,274 $443,160 $5,148,370 $4,038,842 $864,913 $12,880,875 $10,579,177
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 SEPTEMBER 30, 1992
WITH COM4PARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1985 1992
1980 1981 1981 1982 Holliday Multi-Purpose Capital
General C.O. General G.O. General General Creek Events Center Improvement Totals
Improvements Improvements Improvements Improvements Project Project Assessments 1992 1991
Revenues:
Miscellaneous:
Capital improvement
assessments $ - $ - $ - $ - $ - $ - $ 4,414 $ 4,414 $ 8,112
Interest 20,335 6,719 28,770 20,414 323,818 6,737 30,606 437,399 793,534
Other - - - - - 35 - 35 49
Total revenues 20,335 6,719 28,770 20,414 323,81E 6,772 35,020 441,848 801,695
Expenditures:
GN Multi-Purpose Events Center
VD
construction - - - - - 219,470 - 219,470 -
Drainage improvements - - - - - - - - 203
Holliday Creek improvements 404,679 359,246 350,431 885,646 22,055 - - 2,022,057 1,381,544
Total expenditures 404,679 359,246 350,431 885,646 22,055 219,470 - 2,241,527 1,381,747
Excess of revenues over (under)
expenditures ( 384,344) ( 352,527) ( 321,661) ( 865,232) 301,763 ( 212,698) 35,020 ( 1,799,679) ( 580,052)
Other financing sources (uses):
Proceeds from general obligation
bonds - - - - - 4,000,000 - 4,000,000 -
Operating transfers in - - - - - 212,000 - 212,000 -
Total other financing
sources (uses) - _ _ - -
4,212,000 - 4,212,000 -
Excess of revenues and other sources
over (under) expenditures and
other uses ( 384,344) ( 352,527) ( 321,661) ( 865,232) 301,763 3,999,302 35,020 2,412,321 ( 580,052)
Fund balance - beginning 625,796 498,391 2,119,935 1,299,600 4,845,964 - 586,611 10,176,297 10,756,349
Fund balance - ending $441,452 $145,864 $1,798,274 $ 434,368 $5,147,727 $3,999,302 $621,631 $12,588,618 $10,176,297
ENTERPRISE FUNDS
I
II
IIEnterprise Funds are used to account for operations that are financed
and operated in a manner similar to private business enterprises. The
II
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:
IAirport Fund
The Airport Fund was established to account for the operating
I
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
II
owned by Sheppard Air Force Base.
Transit Fund
II
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
IIThe 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.
IWater 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
II
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
II
Sewer Fund as presented in the financial statements.
I
I
I
EXHIBIT G-1
(Page 1 of 2)
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1992
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1991
Water and Totals
Airport Transit Sanitation Sewer 1992 1991
ASSETS
Current assets:
Cash and cash equivalents $ 333,981 $ 1,863 $2,408,671 $ 6,444 396 $ 9,188,911 $ 10,315,883
Receivables:
Customer and trade 25,174 - 477,469 1,245,638 1,748,281 1,533,204
Government agencies - 110,605 - - 110,605 197,320
Other 28,398 48 3,327 4,993 36,766 48,553
Inventory - - - 660,928 660,928 625,277
Prepaid items 6,189 - 2,164 2,263 10,616 30,509
Total current assets 393,742 112,516 2,891,631 8,358,218 11,756,107 12,750,746
v Restricted assets:
O
Cash and cash equivalents - - - 8,434,080 8,434,080 8,353,315
Investments - - - 64,700 64,700 108,300
Receivables:
Government agencies - - - 2,146,516 2,146,516 8,593,467
Other - - - 154,977 154,977 20,421
Total restricted assets - - - 10,600,273 10,800,273 17,075,503
Plant and equipment:
Land and betterments 1,468,175 61,925 653,692 22,414,888 24,598,680 24,598,680
Buildings, systems and improvements 1,451,662 626,868 2,298,370 72,074,754 76,451,654 75,109,376
Machinery and equipment 16,542 78,137 92,206 2,724,598 2,911,483 2,804,925
Furniture and fixtures 14,327 6,128 4,750 20,663 45,868 44,862
Motor vehicles and equipment - - - 3,670 3,670 3,670
Construction in progress - - - 31,050,232 31,050,232 22,289,470
2,950,706 773,058 3,049,018 128,288,805 135,061,587 124,850,985
Less accumulated depreciation ( 1,349,571) ( 124,224) ( 573,351) ( 36,425,663) ( 38,472,809) ( 36,516,032)
Total plant and equipment 1,601,135 648,834 2,475,667 91,863,142 96,588,778 88,334,953
Other assets:
Deferred charges - - - 515,407 515,407 554,278
Total assets $1,994,877 $ 761,350 $5,367,298 $111,537,040 $119,660,565 $118,715,480
EXHIBIT G-1
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FUNDS
COMBINING BALANCE SHEET (CONT'D.)
SEPTEMBER 30, 1992
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1991
Water and Totals
Airport Transit Sanitation Sewer 1992 1991
LIABILITIES AND FUND EQUITY
Current liabilities payable from current assets:
Accounts payable - trade $ 8,315 $ 2,545 $ 128,471 $ 312,355 $ 451,686 $ 323,491
Accrued payroll 1,876 24,515 106,247 201,225 333,863 288,365
Payable to other City funds - 111,750 - - 111,750 195,833
Government agencies 4,167 - - - 4,167 2,196
Other liabilities 28,486 1 7,076 69,415 104,978 174,498
Total current liabilities payable
from current assets 42,844 138,811 241,794 582,995 1,006,444 984,383
Current liabilities payable from restricted assets:
Contracts and trade - - - 1,607,011 1,607,011 1,893,146
v Revenue bonds - current maturities - - - 775,000 775,000 725,000
r-, Accrued interest - revenue bonds - - - 478,334 478,334 404,809
Matured bonds payable - - - 3,000 3,000 3,000
Total current liabilities payable
from restricted assets - - - 2,863,345 2,863,345 3,025,955
Long-term liabilities:
Payable to U.S. Government - - - 1,024,097 1,024,097 1,042,169
Revenue bonds, less current maturities - - - 43,961,516 43,961,516 44,543,467
Total long-term liabilities - - - 44,985,613 44,985,613 45,585,636
Long-term liabilities payable from restricted assets:
Customer deposits - - - 1,205,555 1,205,555 1,132,321
Total liabilities 42,844 138,811 241,794 49,637,508 50,060,957 50,728,295
Fund equity:
Contributed capital 2,277,385 826,338 2,907,626 16,630,920 22,642,269 22,466,061
Retained earnings (deficit):
Reserved for revenue bond debt service - - - 3,116,240 3,116,240 3,014,427
Unreserved ( 325,352) ( 203,799) 2,217,878 42,152,372 43,841,099 42,506,697
Total retained earnings (deficit) ( 325,352) ( 203,799) 2,217,876 45,268,612 46,957,339 45,521,124
Total fund equity 1,952,033 622,539 5,125,504 61,899,532 69,599,608 67,987,185
Total liabilities and fund equity $1,994,877 $ 761,350 $5,367,298 $111,537,040 $119,660,565 S118,715,48.0
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, 1992
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1991
Water and Totals
Airport Transit Sanitation Sewer 1992 1991
Operating revenues:
Charges for services $ 22,643 $125,413 $5,222,415 $12,524,262 $17,894,733 $18,357,383
Rents, concessions and other 168,827 1,778 1,501 176,195 368,301 337,725
Total operating revenues 211,470 127,191 5,223,916 12,700,457 18,263,034 16,695,108
Operating expenses:
Personnel services 34,867 412,689 1,916,845 3,571,685 5,936,086 5,623,986
Supplies and materials 623 57,889 7,803 678,341 744,656 705,084
Maintenance and repairs 38,779 69,841 2,584,298 2,403,046 5,095,964 5,438,395
Utilities and other services 106,626 28,221 413,158 2,119,860 2,667,865 2,554,398
Insurance and contract support 2,964 80,417 132,582 354,634 570,597 540,777
Depreciation and amortization 88,768 14,645 58,194 1,834,800 1,996,407 1,976,233
Total operating expenses 272,627 663,702 5,112,880 10,962,366 17,011,575 16,838,873
v Operating income (loss) ( 61,157) ( 536,511) 111,036 1,738,091 1,251,459 1,856,235
N
Nonoperating revenues (expenses):
Interest income 18,497 - 119,506 742,324 880,327 1,167,993
Gain (loss) on sale of assets - 4,000 - ( 85) 3,915 -
Interest expense and paying agent fees - - -
( 565,282) ( 565,282) ( 582,568)
Contributions from operating grants - 567,666 - - 567,666 387,276
Total nonoperating revenues (expenses) 18,497 571,666 119,506 176,957 886,626 972,701
Income (lose) before operating transfers ( 42,660) 35,155 230,542 1,915,048 2,138,085 2,828,936
Operating transfers:
Operating transfers in - 212,443 - - 212,443 161,210
Operating transfers out - _
P tingo operating transfers - ( 380,692) ( 271,379) ( 652,071) ( 653,650)
Net P g 212,443 ( 380,692) ( 271.379) ( 439,628) ( 492,440)
Net income (lose) ( 42,660) 247,598 ( 150,150) 1,643,669 1,698,457 2,336,496
Retained earnings (deficit) - beginning ( 282,692) ( 189,155) 2,368,028 43,624,943 45,521,124 43,293,869
Equity transfer - ( 262,242) -
( 262,242) ( 109,241)
Retained earnings (deficit) - ending ($ 325,352) ($203,799) �52,217,878 $45„268,612 $46,957,339 $45,521,124
EXHIBIT G-3
CITY OF WICHITA FALLS, TEXAS
ENTERPRISE FONDS
COMBINING STATEMENT OF CASE FLOWS
FOR THE YEAR E®® SEPTE BER 30, 1992
WITH COMPARATIVE TOTALS FOR THE YEAR EKED SEPTEIBER 30, 1991
Water and Totals
Airport Transit Sanitation Sewer 1992 1991
Cash flows from operating activities,
Operating income (loss) ($ 61,157) ($536,511) 5 111,03E $ 1,738,091 5 1,251,459 $ 1,856,235
Adjustments to reconcile operating income (loss) to net
cash provided by (used in) operating activities,
Depreciation and amortization 88,768 14,645 58,194 1,834,800 1,996,407 1,976,233
(Increase) decrease in current assets,
Receivables,
Customer and trade ( 2,173) - ( 24,893) ( 188,011)
( 215,077) 307,652
Government agencies - 86,715 - - 86,715 145,971
Other 16,608 - 172 ( 4,993) 11,787 134,038
Inventor - _
( 35,651)
( 35,651)
19,596)
Prepaid items ( 4,655) 405 8,956 15,186 19,892 ( 24,002)
Other restricted assets - - - 6,312,395 6,312,395 ( 7,088,660)
Increase (decrease) in current liabilities,
Accounts payable - trade 2,235 ( 4,396) 48,018 82,338 128,195 ( 338,919)
Accrued payroll 446 2,970 12,476 29,606 45,498 25,539
Payable to other City funds - ( 84,083) - ( 84,083) ( 152,420)
Payable to government agencies 1,971 - - - 1,971 ( 27,219)
Other liabilities ( 19,550) - - ( 49,970)
( 69,520) 35,007
Other liabilities payable from
restricted assets _ - -
( 212,610) ( 212,610) 1,081,E49
Total adjustments 83,650 16,25E 102,923 7,783,090 7,985,919 ( 3,944,727)
•-.1 Net cash provided by (used in) operating activities 22,493 ( 520,255) -tilt213 9,521,181 9,237,378 ( 2,088,492)
W
Cash flows from noncapital financing activities,
Customer deposits received - - - 73,234 73,234 51,911
Operating grants received - 567,666 - - 567,666 387,276
Operating transfers in from other funds - 212,443 - - 212,443 161,210
Operating transfers out to other funds - - ( 380,692) ( 271,379) ( 652,071) ( 653,650)
Net cash provided by (used in) noncapital
financingactivities - 780,109
( 380,692) ( 198,145) 201,272 ( 53,253)
Cash flows from capital and related financing activities,
Proceeds from sale of revenue bonds - - - 193,049 193,049 21,122,066
Proceeds from sale of fixed assets - 4,000 - - 4,000 -
Acquisition and construction of capital assets ( 1,850) ( 262,242) - ( 10,033,387) ( 10,297,179) ( 17,019,734)
Principal paid on revenue bond maturities and
construction contracts - - _
( 743,072) ( 743,072) ( 742,502)
Interest paid on revenue bonds and construction contracts - - - ( 565,282) ( 565,282) ( 582,568)
Contributed capital - - - - - 49,594
Net cash provided by (used for) capital and
related financing activities ( 1,850) ( 258,242) - ( 11,148,692) ( 11,408,7841 2,826,856
Cash flows from investing activities,
Proceeds from sale and maturities of investment securities - - - 43,600 43,600 2,452,733
Interest and dividends on investments 18,497 - 119,50E 742,324 880,327 1,167,993
Net cash provided by investing activities 18,497 - 119,50E 785,924 923,927 3,620,726
Net increase (decrease) in cash and cash equivalents 39,140 1,612 ( 47,227) ( 1,039,732) ) 1,046,207) 4,305,837
Cash and cash equivalents at beginning of year 294,841 251 2,455,898 15,918,208 18,669,198 14,363,361
Cash and cash equivalents at end of year $ 333,981 1 1,863 2,408,671$ $14,878,176 $171622 l91 $18,669,198
Supplemental disclosure of cash flow information,
Capital assets contributed to other City funds $ - $262,242 $ - $ - $ 262,242 $ 109,241
Capital assets received from federal government - - - - - 7,593
Capital assets received from developers _ - - 176,208 176,208 42,001
Wichita► :�•
TEXAS
INTERNAL SERVICE FUND
t
I
11
I
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.
11
t
EXHIBIT H-1
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
COMPARATIVE BALANCE SHEET
SEPTEMBER 30, 1992 AND 1991
1992 1991
ASSETS
Current assets:
Cash and cash equivalents $ 639,557 $ 420,887
Receivables:
Other 11,984 -
Inventory 433,512 325,313
Prepaid items 373 6,890
Total current assets 1,085,426 753,090
Plant and equipment:
Land and betterments 433,658 433,658
Buildings, systems and improvements 4,008,948 4,008,948
Motor vehicles and equipment 17,854, 124 17,027,258
Construction in progress - 87,414
22,296,730 21,557,278
Less accumulated depreciation ( 11,383,514) ( 10,343,212)
Total plant and equipment 10,913,216 11,214,066
Total assets $11,998,642 $11,967, 156
LIABILITIES AND FUND EQUITY
Current liabilities:
Accounts payable - trade $ 407, 165 $ 202,649
Accrued payroll 70,341 56, 177
other liabilities 829 4, 100
Total current liabilities 478,335 262,926
Fund equity:
Contributed capital 12,759,576 12,497,858
Retained deficit ( 1,239,269) ( 793,628)
Total fund equity 11,520,307 11,704,230
Total liabilities and fund equity $11,998,642 $11,967, 156
74
II
EXHIBIT H-2
IICITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
ICOMPARATIVE STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS
II
FOR THE YEARS ENDED SEPTEMBER 30, 1992 AND 1991
I
Operating revenues: 1992 1991
Rents, concessions and other $4,928,497 $5,219,448
I
operating expenses:
Personnel services 1,024,362 1,020,735
Supplies and materials 964,339 1,157,183
I
Maintenance and repairs 1,468, 172 1, 164,490
Utilities and other services 191,031 188,873
Insurance and contract support 6,970 13,336
IDepreciation and amortization 1,456,014 1,905,329
Total operating expenses 5, 110,888 5,449,946
Operating loss ( 182,391) ( 230,498)
INonoperating revenues (expenses) :
Gain on sale of assets 49, 184 114,695
I
Loss before operating transfers ( 133,207) ( 115,803)
operating transfers:
II
Operating transfers out ( 312,434) ( 312,434)
Net loss 445 641( ) ( 428,237)
IRetained deficit - beginning ( 793,628) ( 365,391)
IIRetained deficit - ending ($1,239,269) ($ 7931628)
II
I
II
II
II
75
EXHIBIT H-3
CITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED SEPTEMBER 30, 1992
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30, 1991
1992 1991
Cash flows from operating activities:
Operating loss (S 182,391) (S 230,498)
Adjustments to reconcile operating loss to
net cash provided by operating activities:
Depreciation and amortization 1,456,014 1,905,329
(Increase) decrease in current assets:
Receivables:
Other ( 11,984) -
Inventory ( 108, 199) ( 8,910)
Prepaid items 6,517 ( 6,646)
Increase (decrease) in current liabilities:
Accounts payable - trade 204,516 ( 21,800)
Accrued payroll 14, 164 ( 4,538)
Other liabilities ( 3,271) 4, 100
Total adjustments 1,557,757 1,867,535
Net cash provided by
operating activities 1,375,366 1,637, 037
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 ( 905,372) ( 1,643,816)
Proceeds from sale of fixed assets 61, 110 153,537
Net cash used for capital and
related financing activities ( 844,262) ( 1,490,279)
Net increase (decrease) in cash and cash equivalents 218,670 ( 165,676)
Cash and cash equivalents at beginning of year 420.887 586,563
Cash and cash equivalents at end of year $ 639,557 $ 420,887
Supplemental disclosure of cash flow information:
Capital assets received from other City funds $ 271,932 $ 109,241
76
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-I
CITY OF WICHITA FALLS, TEXAS
TRUST AND AGENCY FONDS
COMBINING BALANCE SHEET
SEPTEME02 30, 1992
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 1991
Expendable Trust Funds Agency Funds
Employee Wichita Falls
Benefit Reinvestment Social Tax Accounts Deferred Totals
Trust tone $1 Security Payroll Collection Payable Compensation 1992 1991
ASSETS
Cash and cash equivalents $526,574 $ 96,326 $ - $ - $ 31,424 $ - $ - $ 654,324 $ 564,156
Investments - - - - - - 1,577,763 1,577,763 1,333,591
Receivables:
Taxes and assessments - 9,227 - - 2,378,163 - - 2,387,390 2,417,842
Other City funds - - - - - - - - 7
Government agencies 17,812 - - - - - 17,812 22,634
Total assets $544,386 $105,553 $ - $ - $2,409,587 $ - $1,577,763 $4,637,289 $4,338,230
V
V
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable - trade $ 41,302 $ - $ - $ - $ 29,724 $ - $ - $ 71,026 $ 99,723
Payable to other City funds - - - - - - - - 7
Payable to government agencies - - - - 2,378,163 - - 2,378,163 2,416,852
Estimated health claims payable 457,224 - - - - - - 457,224 370,625
Other liabilities 1,365 - - - 1,700 - 1,577,763 1,580,828 1,336,724
Total liabilities 499,891 - _ - - 2,409,587 1,577,763 4,487,241 4,223,931
Fund balance:
Designated for subsequent years expenditures 44,495 105,553 - - - - 150,048 114,299
Total liabilities and fund balance $544,386 105 553 $ - $ - $2,409,587 $ - $1,577,763 $4,637,289 $4,338,230
EXHIBIT I-2
II
IICITY OF WICHITA FALLS, TEXAS
EXPENDABLE TRUST FUNDS
II
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 1992
IIWITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1991
Employee Wichita Falls
II Benefit Reinvestment Totals •
Trust Zone #1 1992 1991
Revenues:
Ad valorem taxes $ - $ 46,699 $ 46,699 $ 32,614
Contributions 2,505,470 - 2,505,470 2,349,638
Total revenues 2,505,470 46,699 2,552, 169 2,382,252
11
Expenditures:
Current:
Administrative services
division 2,501,399 15,021 2,516,420 2,335,388
Excess of revenues over
expenditures 4,071 31,678 35,749 46,864
Fund balance - beginning 40.424 73,875 114,299 67,435
Fund balance - ending $ 44,495 $105,553 $ 150.048 $ 114,299
I
I
78
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, 1992
Balance Balance
October 1, September 30,
1991 Additions Deductions 1992
SOCIAL SECURITY FUND
ASSETS
Cash and cash equivalents $ 7 $ 3,437,532 $ 3,437,539 $ -
Receivables:
Other City funds 7 3,366,737 3,366,744 -
Government agencies - 71,063 71,063 -
Total assets $ 14 $ 6.875,332 $ 6,875,346 $ -
LIABILITIES
Accounts payable - trade $ 14 $ 3,412,831 $ 3,412,845 $ -
Payable to other City funds - 3,412,831 3,412,831 -
Total liabilities $ 14 $ 6,825.662 $ 6,825,676 $ -
PAYROLL FUND
ASSETS
Cash and cash equivalents $ 12 $24,525,925 $24,525,937 $ -
Receivables:
Other City funds - 23,593,335 23,593,335 -
Government agencies - 928,799 928,799 -
Total assets $ 12 $49,048,059 $49,048,071 $ -
LIABILITIES
Accounts payable - trade $ 5 $ - $ 5 $ -
Payable to other City funds 7 1,722,661 1,722,668 -
Total liabilities $ 12 $ 1.722,661 $ 1,722,673 $ -
79
EXHIBIT I-3
(Page 2 of 3)
CITY OF WICHITA FALLS, TEXAS
AGENCY FUNDS
II
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (CONT'D.)
FOR THE YEAR ENDED SEPTEMBER 30, 1992
II
Balance Balance
II October
1, September 30,
1991 Additions Deductions 1992
COLLECTION FUND
II
ASSETS
Cash and cash equivalents $ 38,903 $41,024,370 $41,031,849 $ 31,424
II
Receivables:
Taxes and assessments 2,416,852 25,727,106 25,765,795 2,378,163
Other City funds - 1,365 1,365 -
II
Total assets $2,455,755 ,$66,752,841 $66,799,009 S2,409,587
LIABILITIES
Accounts payable - trade $ 37,203 $29,051,710 $29,059, 189 $ 29,724
Payable to other City funds - 2,299, 112 2,299, 112 -
Payable to government agencies 2,416,852 26,433,971 26,472,660 2,378,163
Other liabilities 1,700 - - 1,700
Total liabilities $2,455,755 $57,784,793 $57,830,961 $2,409,587
ACCOUNTS PAYABLE FUND
ASSETS
Cash and cash equivalents $ - $38,036,111 $38,036, 111 $ -
Receivables:
Other City funds - 38,335,067 38,335,067 -
II
Total assets $ - $76,371, 178 $76,371, 178 $ -
LIABILITIES
IIPayable to other City funds $ - $ 185,437 $ 185,437 $ -
Total liabilities $ - $ 185,437 $ 185,437 $ -
I
I
80
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, 1992
Balance Balance
October 1, September 30,
1991 Additions Deductions 1992
DEFERRED COMPENSATION FUND
ASSETS
Investments $1,333,591 $ 380,689 $ 136,517 $1,577,763
Total assets $1,333,591 $ 380,689 $ 136,517 $1,577,763
LIABILITIES
Other liabilities $1,333,591 $ 380,689 $ 136,517 $1,577,763
Total liabilities $1,333,591 $ 380,689 $ 136,517 $1,577,763
TOTALS - ALL AGENCY FUNDS
ASSETS
Cash and cash equivalents $ 38,922 $107,023,938 $107,031,436 $ 31,424
Investments 1,333,591 380,689 136,517 1,577,763
Receivables:
Taxes and assessments 2,416,852 25,727, 106 25,765,795 2,378, 163
Other City funds 7 65,296,504 65,296,511 -
Government agencies - 999,862 999,862 -
Total assets $3,789,372 $199,428,099 $199,230, 121 $3,987,350
LIABILITIES
Accounts payable - trade $ 37,222 $ 32,464,541 $ 32,472,039 $ 29,724
Payable to other City funds 7 7,620,041 7,620,048 -
Payable to government agencies 2,416,852 26,433,971 26,472,660 2,378, 163
Other liabilities 1,335,291 380,689 136,517 1,579,463
Total liabilities $3,789,372 $ 66,899,242 $ 66,701,264 $3,987,350
81
SUPPORTING SCHEDULES
EXHIBIT J-1
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDED DEBT AND INTEREST MATURITIES
SEPTEMBER 30, 1992
Fiscal Year General Obligation Bonds Water and Sewer Revenue Bonds
Ending Serial Bond Interest Total Bonds Serial Bond Interest Total Bonds
September 30, Maturities on Bonds and Interest Maturities on Bonds and Interest Total
1993 $ 885,000 $ 1,709,307 $ 2,594,307 $ 1,075,000 $ 2,935,428 $ 4,010,428 $ 6,604,735
1994 960,000 1,635,297 2,595,297 1,150,000 2,884,203 4,034,203 6,629,500
1995 1,025,000 1,571,897 2,596,897 1,230,000 2,805,088 4,035,086 6,631,985
1996 1,090,000 1,501,417 2,591,417 1,310,000 2,718,643 4,028,643 6,620,060
1997 1,170,000 1,423,342 2,593,342 1,415,000 2,624,512 4,039,512 6,632,854
1998 1,255,000 1,337,576 2,592,578 1,510,000 2,521,847 4,031,847 6,624,425
1999 1,350,000 1,243,483 2,593,483 1,625,000 2,410,797 4,035,797 6,629,280
2000 1,455,000 1,140,673 2,595,673 1,745,000 2,290,568 4,035,568 6,631,241
CO 2001 1,570,000 1,028,148 2,598,148 1,875,000 2,165,563 4,040,563 6,638 711
2002 1,690,000 905,745 2,595,745 2,010,000 2,020,877 4,030,877 6,626,622
2003 1,815,000 773,830 2,588,830 2,165,000 1,869,152 4,034,152 6,622,982
2004 1,960,000 631,020 2,591,020 2,330,000 1,705,527 4,035,527 6,626,547
2005 2,115,000 476,600 2,591,600 2,505,000 1,528,290 4,033,290 6,624,890
2006 2,285,000 308,548 2,593,548 2,700,000 1,337,440 4,037,440 6,630,988
2007 570,000 126,740 696,740 2,905,000 1,130,420 4,035,420 4,732,160
2008 600,000 94,820 694,820 3,120,000 907,225 4,027,225 4,722,045
2009 635,000 60,920 695,920 3,300,000 735,625 4,035,625 4,731,545
2010 430,000 24,725 454,725 3,465,000 554,125 4,019,125 4,473,850
2011 - - - 3,665,000 363,550 4,026,550 4,028,550
2012 - - - 3,636,516 161,955 3,798,471 3,798,471
$22,060,000 $15,994,090 $38„854,090 $44,736,516 $35,670,835 $80,407,351 $119,261,441
EXHIBIT J-2
(Page 1 of 2)
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE
SEPTEMBER 30, 1992
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 $ 3,680,000 $18,860,000
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)
CO 1,805,000 (2004)
W 1,955,000 (2005)
2,115,000 (2006)
Certificates of
Obligation,
Series 1992 2.75, 3.20, 3.60, 4.00, 8/01/92 9/01/10 80,000 (1993) 4,000,000 4,000,000 - 4,000,000
4.25, 4.50, 4.70, 4.90, 100,000 (1994)
5.10, 5.20, 5.30, 5.45, 105,000 (1995)
5.55, 5.60, 5.65, 5.70, 105,000 (1996)
5.75 110,000 (1997)
115,000 (1998)
120,000 (1999)
125,000 (2000)
135,000 (2001)
140,000 (2002)
145,000 (2003)
155,000 (2004)
160,000 (2005)
170,000 (2006)
570,000 (2007)
600,000 (2008)
635,000 (2009)
430,000 (2010)
Total general obligation
bonds 26,540,000 26,540,000 3,680,000 22,860,000
11.11
EXHIBIT J-2
(Page 2 of 2)
CITY OF WICHITA FALLS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE (CONT'D.)
SEPTEMBER 30, 1992
Final Annual Bonds
Interest Rates Issue Maturity Serial Retired or
and (Dates) Date Date Payments Authorized Issued Refunded Outstanding
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 3,615,000 20,790,000
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)
CO
1,650,000 (2003)
1,785,000 (2004)
1,930,000 (2005)
2,090,000 (2006)
2,265,000 (2007)
Water and Sewer
Subordinate Lien
Revenue Bonds,
Series 1990-A, 5.5, 7.72, 7.17 7/01/90 8/01/12 300,000 (1993) 26,210,000 23,946,516 - 23,946,516
1990-B and 1990-C (2/1, 8/1) 315,000 (1994)
335,000 (1995)
350,000 (1996)
380,000 (1997)
390,000 (1998)
415,000 (1999)
440,000 (2000)
465,000 (2001)
485,000 (2002)
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)
3,636,516 (2012)
Total revenue bonds 50,615,000 48,351,516 3,615,000 44,736,516
Total all bonds �577,155,000 $74,891,516 $ 7,295,000 $67,596,516
EXHIBIT J-3
CITY OF WICHITA FALLS, TEXAS
DEBT SERVICE COVERAGE - REVENUE BONDS
SEPTEMBER 30, 1992
Water and sewer Revenue Bonds:
Net income (Exhibit G-2) $ 1,643,669
Add:
Interest expense and paying
agent fees $ 565,282
Loss on sale of assets 85
Depreciation and amortization 1,834,800
Operating transfers out 271,379 2,671,546
Net earnings for determining debt service coverage $ 4,315,215
Total principal and interest requirements $80,407,351
Number of years remaining to pay bonds + 20
Average annual principal and interest requirement $ 4,020,368
Average annual debt service coverage 1.07
Maximum principal and interest requirement $ 4,040,563
Maximum debt service coverage 1.07
85
EXHIBIT J-4
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
I
COMPARATIVE SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCES
SEPTEMBER 30, 1992 AND 1991
1992 1991
General Fixed Assets:
ILand and betterments $14, 153, 180 $14,574,116
Buildings and improvements 14,403,480 14,394,524
Machinery and equipment 4,958,950 4,710,692
Furniture and fixtures 419,769 421,708
Motor vehicles and equipment 26,236 56,861
ITotal general fixed assets $33,961,615 $34, 157,901
Investment in General Fixed Assets:
From general obligation bonds $ 889,328 $ 802,604
From local revenues and contributions 5,213,034 4,691,551
From federal government contributions 2,226,335 2, 191,932
From unidentified sources 25,632,918 26,471,814
Total investment in general fixed assets $33,961,615 $34, 157,901
86
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, 1992
Motor
Buildings Machinery Furniture Vehicles
Land and and and and and
Betterments Improvements Equipment Fixtures Equipment Total
General fixed assets,
October 1, 1991 $14,574,116 $14,394,524 $4,710,692 $421,708 $56,861 $34,157,901
Additions:
Expenditures from general
obligation bonds 86,724 - - - - 86,724
Expenditures from local
revenues and contributions 293,499 8,956 217,442 1,586 - 521,483
03 Expenditures from federal
V
government contributions - - 33,824 579 - 34,403
Total additions 380,223 8,956 251,266 2,165 - 642,610
Total 14,954,339 14,403,480 4,961,958 423,873 56,861 34,800,511
Deductions:
Assets sold, traded or
retired 801,159 - 3,008 4,104 30,625 838,896
General fixed assets,
September 30, 1992 $14,153,180 $14,403,480 $4,958,950 $419,769 $26,236 $33,961,615
EXHIBIT J-6
CITY OF WICHITA FALLS, TEXAS
GENERAL FIXED ASSETS
SCHEDULE OF GENERAL FIXED ASSETS - BY FUNCTION AHD ACTIVITY
SEPTA®Elt 30, 1992
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 1,188,452 586,872 140,178 45,421 - 1,960,923
Legal and City Clerk - - 11,577 11,279 - 22,856
Personnel/Risk Management - - 478,039 12,743 - 490,782
Data Processing - - 720,898 14,379 - 735,277
Martin Luther King Center - 349,839 7,654 15,944 - 373,437
Library 610,870 307,059 50,965 44,835 - 1,013,729
Municipal Court 230,000 312,788 47,780 13,102 - 603,670
Farmer's Market - - - 946 - 946
Midtown Manor 210,798 184,780 - - -
395,578
Auditorium/Activity Center 477,942 5,940,057 78,216 64,969 - 6,561,184
Multi-Purpose Events Center 86,724 - - - - 86,724
Housing 78,358 6,269 3,509 579 - 88,715
Building Maintenance - - 7,305 - - 7,305
Total administrative services division 2,883,144 7,687,664 1,553,766 229,415 12,353,989
CO
CO
Police division:
Police 1,095,114 1,330,593 1,959,281 69,521 13,030 4,467,539
Fire division:
Fire 176,645 1,519,590 492,634 41,960 - 2,230,829
Parks and recreation division:
Parks 9,523,046 2,709,633 237,148 9,670 - 12,479,497
Golf 112,539 27,544 8,219 - - 148,302
Cemetery 20,212 - 12,828 - - 33,040
Total parks and recreation division 9,655,797 2,737,177 258,195 9,670 - 12,660,839
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 118,193 19,087 169,139 11,951 1,410 319,780
Inspection 13,059 - 45,118 3,861 - 62,038
Street Maintenance 65,447 86,373 87,277 5,298 - 244,395
Total public works division 196,699 105,460 301,534 21,110 1,410 626,213
Health division:
Health 111,231 985,731 211,040 18,218 - 1,327,220
Traffic and transportation division:
Traffic Engineering 34,550 37,265 69,037 6,326 - 147,178
Total general fixed asset. $14,153,180 $14,403,480 $4,958,950 $419,769 $26,236 $33,961,615
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, 1992
Beginning Ending
Balance Transfers Balance
10/1/91 Additions Deletions In (Out) 9/30/92
Administrative services division:
Mayor and City Council $ 12,863 $ - $ - $ - $ 12,863
General Administration 2,176,637 58,146 263,999 ( 9,861) 1,960,923
Legal and City Clerk 22,188 1,823 - ( 1,155) 22,856
Personnel/Risk Management 480,343 7,786 844 3,497 490,782
Data Processing 722,330 13,172 225 - 735,277
Martin Luther Ring Center 373,437 - - - 373,437
Library 998,900 15,079 250 - 1,013,729
Municipal Court 605,164 - - ( 1,494) 603,670
Farmer's Market 946 - - - 946
Midtown Manor 418,578 - 2,100 ( 20,900) 395,578
Auditorium/Activity Center 6,512,778 4,171 - 44,235 6,561,184
Multi-Purpose Events Center - 86,724 - - 86,724
Housing 84,964 3,751 - - 88,715
Building Maintenance 4,803 2,502 - - 7,305
Total administrative
services division 12,413,931 193,154 267,418 14,322 12,353,989
Police division:
Police 4,312,327 160,185 2,461 ( 2,512) 4,467,539
Fire division:
Fire 2,231,670 11,365 340 ( 11,866) 2,230,829
Parks and recreation division:
Parks 12,838,834 249,485 521,806 ( 87,016) 12,479,497
Golf 148,302 - - - 148,302
Cemetery 33,040 - - - 33,040
Total parks and recreation
division 13,020,176 249,485 521,806 ( 87,016) 12,660,839
Accounting/finance division:
Accounting/finance 35,101 - - - 35,101
Tax 14,070 - - - 14,070
Total accounting/finance
division 49,171 - - - 49,171
Planning division:
Planning 98,637 - - - 98,637
Public works division:
Engineering 314,502 - 46,284 51,562 319,780
Inspection 62,038 - - - 62,038
Street Maintenance 203,240 6,232 587 35,510 244,395
Total public works division 579,780 6,232 46,871 87,072 626,213
Health division:
Health 1,314,031 13,189 - - 1,327,220
Traffic and transportation division:
Traffic Engineering 138,178 9,000 - - 147,178
Total general fixed assets $34,157,901 $ 642,610 $838,896 $ - $33,961,615
89
II
EXHIBIT J-8
IICITY OF WICHITA FALLS, TEXAS
AIRPORT FUND
IIPLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1992
II
Balance Balance
II 10/1/91
Additions Deletions 9/30/92
nanEaupmen :
II
Land and betterments $1,468, 175 $ - $ - $1,468, 175
Buildings and improvements 1,451,662 - - 1,451,662
IMachinery and equipment 16,542 - - 16,542
Furniture and fixtures 12,477 1,850 - 14,327
II
Total plant and equipment 2,948,856 1,850 - 2,950,706
Accumulated Depreciation:
Land and betterments 697, 138 58,398 - 755,536
Buildings and improvements 542,589 28,989 - 571,578
IIMachinery and equipment 11, 146 808 - 11,954
Furniture and fixtures 9,930 573 - 10,503
Total accumulated
depreciation 1,260,803 88,768 - 1,349,571
Net plant and equipment $1,688,053 ($ 86,918) $ - $1,601, 135
90
EXHIBIT J-9
CITY OF WICHITA FALLS, TEXAS
TRANSIT FUND
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1992
Balance Balance
10/1/91 Additions Deletions 9/30/92
Plant and Eauipment:
Land and betterments $ 61,925 $ - $ - $ 61,925
Buildings and improvements 626,868 - - 626,868
Machinery and equipment 78, 137 262,242 262,242 78, 137
Furniture and fixtures 6, 128 - - 6, 128
Total plant and equipment 773,058 262,242 262,242 773,058
Accumulated Depreciation:
Buildings and improvements 60,657 7,988 - 68,645
Machinery and equipment 45,700 6,282 - 51,982
Furniture and fixtures 3,222 375 - 3,597
Total accumulated
depreciation 109,579 14,645 - 124,224
Net plant and equipment $ 663,479 ($ 14,645) $ - $ 648,834
91
EXHIBIT J-10
II
I
CITY OF WICHITA FALLS, TEXAS
SANITATION FUND
I
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1992
II Balance Balance
10/1/91 Additions Deletions 9/30/92
IPlant and Equipment:
Land and betterments $ 653,692 $ - $ - $ 653,692
IIBuildings and improvements 2,298,370 - - 2,298,370
I
Machinery and equipment 92,206 - - 92,206
Furniture and fixtures 4,750 - - 4,750
ITotal plant and equipment 3,049,018 - - 3,049,018
II
Accumulated Depreciation:
Land and betterments 18,771 1,711 - 20,482
IBuildings and improvements 427,892 48,776 - 476,668
Machinery and equipment 64,480 7,556 - 72,036
Furniture and fixtures 4,014 151 - 4, 165
Total accumulated
depreciation 515,157 58, 194 - 573,351
Net plant and equipment $2,533,861 ($ 58, 194) $ - $2,475,667
I
92
EXHIBIT J-11
CITY OF WICHITA FALLS, TEXAS
WATER AND SEWER F014D
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1992
Plant and Equipment Accumulated Depreciation Net Plant
Balance Transfers Balance Balance Balance and
10/1/91 Additions Deletions In (Out) 9/30/92 10/1/91 Additions Deletions 9/30/92 Equipment
Water Department:
Land and betterments $ 22,329,674 $ - $ - $ - $ 22,329,674 $ 5,027,375 $ 229,640 $ - $ 5,257,015 $17,072,659
Buildings, systems and improvements 48,213,177 115,124 - - 48,328,301 16,520,218 885,681 - 17,405,899 30,922,402
Machinery and equipment 2,371,504 97,248 - - 2,468,752 1,462,193 49,855 - 1,512,048 956,704
Furniture and fixture■ 19,059 - 844 - 18,215 15,942 971 761 16,152 2,063
Motor vehicles 3,670 - - - 3,670 3,670 - - 3,670 -
Construction in progress 25,573 76,393 - - 101,966 - - - - 101,966
Total Water Department $ 72,962,657 $ 288,765 $ 844 $ $ 73,250,578 $23,029,398 $1,166,147 $ 761 $24,194,784 $49,055,794
lD Sever Department:
(„v Land and betterments $ 85,214 $ - $ - $ - $ 85,214 $ - $ - $ - $ - $ 85,214
Buildings, systems and improvement. 22,519,302 1,183,914 - 43,237 23,746,453 11,400,622 619,989 - 12,020,611 11,725,842
Machinery and equipment 246,536 9,310 - - 255,846 199,267 9,687 - 208,954 46,892
Furniture and fixtures 2,448 - - - 2,448 1,206 108 - 1,314 1,134
Construction in progress 22,263,897 8,727,606 - ( 43,237) 30,948,266 - - - - 30,948,266
Total Sewer Department $ 45,117,397 $ 9,920,830 $ - $ - $ 55,038,227 $11,601,095 $ 629,784 $ - $12,230,879 $42,807,348
Combined Water and Sever Department.:
Land and betterments $ 22,414,888 $ - $ - $ - $ 22,414,888 $ 5,027,375 $ 229,640 $ - $ 5,257,015 $17,157,873
Building., systems and improvement. 70,732,479 1,299,038 - 43,237 72,074,754 27,920,840 1,505,670 - 29,426,510 42,648,244
Machinery end equipment 2,618,040 106,558 - - 2,724,598 1,661,460 59,542 - 1,721,002 1,003,596
Furniture and fixtures 21,507 - 844 - 20,663 17,148 1,079 761 17,466 3,197
Motor vehicle. 3,670 - - - 3,670 3,670 - - 3,670 -
Construction in progress 22,289,470 8,803,999 - ( 43,237) 31,050,232 - - - - 31,050,232
Total Combined Water end
Sewer Departments $118,080,054 $10,209,595 $ 844 $ - $128,288,805 $34,630,493 $1,795,931 $ 761 $36,425,663 $91,863,142
IIEXHIBIT J-12
ICITY OF WICHITA FALLS, TEXAS
INTERNAL SERVICE FUND
I
PLANT, EQUIPMENT AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1992
II Balance
Balance
10/1/91 Additions Deletions 9/30/92
IIPlant and Eauipment:
I Land
and betterments $ 433,658 $ - $ - $ 433,658
Buildings and improvements 4,008,948 - - 4,008,948
I
Motor vehicles and equipment 17,027,258 1, 178,664 351,798 17,854, 124
Construction in progress 87,414 - 87,414 -
ITotal plant and equipment 21,557,278 1, 178,664 439,212 22,296,730
' Accumulated Depreciation:
Buildings and improvements 639,605 40,087 - 679,692
IMotor vehicles and equipment 9,703,607 1,415,927 415,712 10,703,822
Total accumulated
IIdepreciation 10,343,212 1,456,014 415,712 11,383,514
II
Net plant and equipment $11,214,066 ($ 277,350) $ 23,500 $10,913,216
II
II
II
II
II
II
94
I
�1
14"ESAS
STATISTICAL SECTION
(UNAUDITED)
i
i
i
i
i
w�
TEXAS`���
EXHIBIT K-1
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION (GENERAL FUND ONLY) -
LAST TEN FISCAL YEARS (UNAUDITED)
Accounting
Fiscal Administrative Parke and and Public Traffic and
Year Services Police Fire Recreation Finance Planning Works Health Transportation Total
1982-1983 $5,001,439 $5,685,793 $3,883,766 $2,584,235 $563,936 $ 770,007 $7,815,997 $1,320,500 $1,502,279 $29,127,952
1983-1984 7,280,506 6,169,438 4,321,815 2,661,586 480,639 965,744 6,711,669 1,432,771 2,037,931 32,062,099
1984-1985 5,569,049 6,357,917 4,923,585 2,566,444 503,270 339,011 4,751,428 1,655,368 1,381,583 28,047,655
1985-1986 4,895,221 7,422,813 4,601,651 2,396,365 525,034 405,519 5,220,861 1,732,984 1,276,928 28,477,376
1986-1987 4,972,244 7,242,687 4,844,086 2,928,346 469,576 269,662 5,233,671 1,939,250 1,296,474 29,195,996
VD 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
Ln rrr
1988-1989 4,514,948 7,677,500 5,240,285 2,478,736 418,733 336,887 4,232,744 1,830,962 1,249,506 27,980,301
1989-1990 4,655,580 8,359,078 5,360,935 2,388,480 428,310 326,867 4,224,499 1,933,354 1,197,787 28,874,890
1990-1991 5,037,109 8,552,989 5,393,852 2,433,579 417,460 269,972 4,965,920 1,955,763 1,161,922 30,208,566
1991-1992 4,502,220 8,970,402 5,558,991 2,555,542 462,729 229,485 4,243,882 2,156,485 1,114,159 29,793,895
EXHIBIT K-2
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL REVENUES BY SOURCE (GENERAL FUND ONLY) -
LAST TEN FISCAL YEARS (UNAUDITED)
Charges Licenses Fines
Fiscal for and and Intergovernmental Miscellaneous
Year Taxes Services Permits Forfeitures Revenue Revenue Total
1982-1983 $18,023,712 $4,354,410 $284,438 $808,502 $ 683,388 $1,292,813 $25,447,263
1983-1984 20,176,122 5,449,200 342,431 753,274 562,519 1,418,298 28,701,844
1984-1985 21,328,803 1,904,610 463,613 815,148 443,014 1,637,783 26,592,971
rn
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 1,068,713 554,972 781,111 1,225,504 1,255,215 28,486,903
1991-1992 24,535,787 1,070,926 604,905 904,581 1,380,734 925,466 29,422,399
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
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%
1991-1992 14,663,529 14,311,760 97.60% 343,769 14,655,529 99.95%
97
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
1982-1983 $1,324,181,729 $1,324,181,729 $478,256,955 $478 256 955
r r , $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%
c
1986-1987 1,809,871,886 1,809,871,886 505,911,411 505,911,411 2,315,783,297 2,315,783,297 100.00%
1987-1988 1,789,937,697 1,789,937,697 484,882,457 484,882,457 2,274,820,154 2,274,820,154 100.00%
1988-1989 1,789,389,697 1,789,389,697 509,853,169 509,853,169 2,299,242,866 2,299,242,866 100.00%
1989-1990 1,789,161,491 1,789,161,491 509,996,744 509,996,744 2,299,158,235 2,299,158,235 100.00%
1990-1991 1,764,512,712 1,764,512,712 489,822,988 489,822,988 2,254,335,700 2,254,335,700 100.00%
1991-1992 1,741,946,628 1,741,946,628 467,647,449 467,647,449 2,209,594,077 2,209,594,077 100.00%
EXHIBIT K-5
CITY OF WICHITA FALLS, TEXAS
PROPERTY TAX RATES AND TAX LEVIES - DIRECT AND OVERLAPPING GOVERNMENTS -
LAST TEN FISCAL YEARS (UNAUDITED)
Wichita County
Fiscal City of Falls City View Education Wichita
Year Wichita Falls I.S.D. (1) I.S.D. (2) District (3) County Total
Tax Rates Per $100 Valuation
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
1991-1992 .66 .39 .35 .75 .31 2.46
Tax Levies
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
1991-1992 14,629,075 8,181,795 307,177 17,005,814 10,098,311 50,222,172
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
(3) County Education Districts were created by the Texas Legislature in 1991. All property tax
revenues received by the County Education District are distributed to local educationa.
agencies within the County on a prorata basis.
99
EXHIBIT K-6
CITY OF WICHITA FALLS, TEXAS
TEN LARGEST TAXPAYERS (UNAUDITED)
SEPTEMBER 30, 1992
Percentage
January 1, 1991 of Total
Assessed Assessed
Taxpayer Type of Business Valuation Valuation
Southwestern Bell Telephone Utility $ 40,984,313 1.86%
JMB Group Trust III Shopping Center 34,235,426 1.55%
Texas Utilities Electric Utility 32,475,780 1.47%
Furr's Supermarkets Grocery Stores 10,835,586 .49%
Wichita Falls Clinic Medical Center 9,588,505 .43%
Panhandle Manufacturing Manufacturing 9,066,038 .42%
Sam's Wholesale Club Retail Store 9,059,251 .41%
Siemens Manufacturing 8,093,765 .37%
II
Wal-Mart Retail Store 6,963,282 .32%
Wichita Falls Hotel Hotel 6,581,377 .30%
Partnership
Totals $167,883,323 7.62%
100
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
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%
1991-1992 238,496 4,414 1.85%
101
EXHIBIT K-8
CITY OF WICHITA FALLS, TEXAS
COMPUTATION OF LEGAL DEBT MARGIN (UNAUDITED)
SEPTEMBER 30, 1992
Total assessed property value per 1991 tax roll $2,209,594,077
Maximum tax levy* $ 2.25/$100
Current tax levy for 1991 tax year .66363/$100
Maximum tax levy in excess of 1991 tax levy 1.58637/$100
Total legal debt margin $ 35,052,338
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 1991 tax rate is $ .66363
per $100 assessed valuation.
* Maximum tax levy established by City Charter
102
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
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
0
ui 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
1991-1992 97,700 2,209,594,077 22,860,000 656,653 22,203,347 1.00% 227
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
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%
1991-1992 755,000 1,531,240 2,286,240 29,793,895 7.67%
104
EXHIBIT K-11
CITY OF WICHITA FALLS, TEXAS
COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT (UNAUDITED)
SEPTEMBER 30, 1992
Percentage Amount
Applicable Applicable
Taxing Gross General to City of to city of
Jurisdiction Bonded Debt (1) Wichita Falls (2) Wichita Falls
City of Wichita Falls $22,860,000 100.00% $22,860,000
Wichita Falls Independent
School District 14,454,980 98.49% 14,236,710
Wichita County 800,000 77.23% 617,840
City View Independent
School District 580,000 75.25% 436,450
Burkburnett Independent
School District 7,710,000 1. 16% 89,436
Total direct and
overlapping bonded debt $46.404,980 $38,240,436
Sources:
(1) Listed taxing jurisdictions
(2) City of Wichita Falls Planning Department
105
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 Requirement .
Year Revenues (1) Expenses (2) Debt Service Principal Interest Total Coverage
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
1--,
1985-1986 13,114,194 8,525,382 4,588,812 440,000 1,932,837 2,372,837 1.93
0
rn
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
1991-1992 13,442,781 9,127,566 4,315,215 725,000 1,728,228 2,453,228 1.76
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 (21 Level (3) Enrollment (3) Rate (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%
1991-1992 97,700 26,053 13.1 15,620 7.5%
Sources:
( 1) City of Wichita Falls Planning Department for all years except 1989-1990 from
U.S. Bureau of census
(2) Sales & Marketinv Management magazine
(3) Wichita Falls I.S.D. - Educational level is grade equivalent of graduating
senior
(4) Texas Employment Commission
107
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)
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
1991-1992 2,209,594,077 49,894, 023
Sources:
( 1) City of Wichita Falls Tax Department
(2) City of Wichita Falls Planning Department
(3) Wichita Falls Times/Record News
* Local branches of NationsBank 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.
108
EXHIBIT K-15
CITY OF WICHITA FALLS, TEXAS
MISCELLANEOUS STATISTICAL DATA (UNAUDITED)
SEPTEMBER 30, 1992
Date of incorporation 1889
Form of government Council - Manager
Area 53 square miles
Miles of streets 575
Number of street lights 9,200
Fire protection:
Number of stations 9
Number of firemen and officers 157
Police protection:
Number of stations 1
Number of police officers 157 sworn, 18 recruits
Municipal water department:
Number of consumers - active 31,713
Average daily consumption 21,550,000 gallons treated water
Miles of water mains 800
sewers:
Number of customers - active 29,089
Miles of sanitary sewers 600
Miles of storm sewers 200
Building permits issued:
Number issued 5,525
Amount issued $49,894,023
•
Recreation and culture:
Number of parks 41 with 1, 104 acres
Number of golf courses 4
Number of libraries 1
Number of volumes 96,000
Employees - full-time 971
109
EXHIBIT K-16
(Page 1 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED)
SEPTEMBER 30, 1992
Insurance
Code
A Policy: Building and Contents
Company: Nutmeg Insurance Company
Policy No. : 46 XLN SD5716
Policy Period: October 1, 1992 to October 1, 1993
Perils: Fire, extended coverage, vandalism
and malicious mischief, including
difference in condition
Coverages: $48,570,982 Building and Contents
$ 50,000 Extra Expense
Deductible: $ 100,000
Coinsurance: Agreed Value, Replacement Cost
Premium: $16,582
B Policy: Boiler and Machinery
Company: Kemper Insurance Company
Policy No. : 3XN 026 465 00
Policy Period: October 1, 1992 to October 1, 1993
Perils: Comprehensive Blanket
Coverage: $5,000,000 Per Occurrence
Deductible: $1,000
Coinsurance N/A
Premium: $ 5, 104
C Policy: Electronic Data Processing Equipment
Company: Great American Lloyds Insurance Company
Policy No: EEP7-11-38-64-01
Policy Period: October 1, 1992 to January 1, 1993
Perils: All Risks
Coverage: $1,070,927
Deductible: $ 4,000
Coinsurance: Replacement Cost
Premium: $ 4,343
D Policy: Excess Worker's Compensation and
Employer's Liability
Company: Aetna Insurance Company
Policy No. : 71 XC 29 SCA
Policy Period: October 1, 1992 to October 1, 1993
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: $45,651
110
EXHIBIT K-16
(Page 2 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D. )
SEPTEMBER 30, 1992
Insurance
Code
E Policy: Airport Liability
Company: Sedgwick James of Texas, Inc.
Policy No. : 636GLA45-33595
Policy Period: October 1, 1992 to October 1, 1993
Perils: Owner's, Landlord, and Tenants' Liability
Coverage: $1,000,000 CSL
Deductible: None
Coinsurance: N/A
Premium: $ 1,900
F Policy: Public Official Bond
Company: Fidelity & Deposit Company
Bond No. : FD-09688496
Bond Period: June 27, 1992 to June 27, 1993
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, 1992 to August 1, 1993
Insured: Purchasing Agent - Peggy Gahagan
Coverage: $2,500
Premium: $ 50
H Policy: Blanket Employees' Dishonesty - Theft,
Disappearance Coverage
Company: Fidelity & Deposit Company
Bond No. : FD-02897925
Bond Period: January 15, 1993 to January 15, 1994
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
111
EXHIBIT K-16
(Page 3 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1992
Insurance
Code
Policy: Public Official Bond
company: Fidelity & Deposit Company
Bond No. : FD-05679944
Bond Period: January 5, 1993 to January 5, 1994
Insured: city Clerk - Wilma Thomas
Coverage: $25,000
Premium: $ 88
Policy: Public Official Bond
Company: Aetna Insurance Company
Bond No. : s100138239BCA
Bond Period: April 22, 1992 to April 22, 1993
Insured: Tax Assessor/Collector - Art DeWitt
Coverage: $50,000
Premium: $ 250
K Policy: Public Official Bond
Company: Aetna Insurance Company
Bond No. : a100084654BCA
Bond Period: August 6, 1992 to August 6, 1993
Insured: Director of Public Works - George Bonnett
Coverage: $2,500
Premium: $ 50
L Policy: Public official Bond .
Company: Aetna Insurance Company
Bond No. : s100733373
Bond Period: January 8, 1993 to January 8, 1994
Insured: Municipal Court Administrator -
John osoinach
Coverage: $2,500
Premium: $ 50
M Policy: Public official Bond
Company: Aetna Insurance Company
Bond No. : s18072205BCA
Bond Period: March 5, 1992 to March 5, 1993
Insured: Director of Finance - Fred Werner
Coverage: $25,000
Premium: $ 88
112
EXHIBIT K-16
(Page 4 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1992
Insurance
Code
N Policy: Public Official Bond
Company: Aetna Insurance Company
Bond No. : S100648903BCA
Bond Period: May 21, 1992 to May 21, 1993
Insured: Municipal Court Judge - Larry Gillen
Coverage: $2,500
Premium: $ 100
O Policy: Health Insurance
Company: Coordinated Benefits Systems
Policy No. : City of Wichita Falls Employee
Benefits Trust
Policy Period: October 1, 1992 through September 30, 1993
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
P Policy: Dental Insurance
Company: Coordinated Benefits Systems
Policy No. : City of Wichita Falls Employee
Benefits Trust
Policy Period: October 1, 1992 through September 30, 1993
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
113
EXHIBIT K-16
(Page 5 of 5)
CITY OF WICHITA FALLS, TEXAS
SCHEDULE OF INSURANCE COVERAGE (UNAUDITED) (CONT'D.)
SEPTEMBER 30, 1992
Insurance
Code
Q Policy: Life Insurance
Company: Aetna Life and Casualty
Policy No. : GT-447782 (Group #)
Policy Period: October 1, 1992 through September 30, 1993
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, 1992 to December 31, 1993
Perils: Accidental Death and Dismemberment
coverage: $25,000
Deductible N/A
Premium: Annual Estimate $400
114
TEXAS LL1
GRAPHICS
EXHIBIT L-1
CITY OF WICHITA FALLS, TEXAS
CASH AND SHORT-TERM INVESTMENTS
50
40
30
20
1O •
0
1988 1989 1990 1991 1992
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
EXHIBIT L-2
CITY OF WICHITA FALLS, TEXAS
TOTAL BONDS PAYABLE
70
60
50
40
O �
Q 30
20
10
0 -
1988 1989 1990 1991 1992
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
EXHIBIT L-3
CITY OF WICHITA FALLS, TEXAS
GENERAL OBLIGATION BONDS PAYABLE
30
25 --
20 -
6
c
V
a = 15
O
Q
10
5 -
0
1988 1989 1990 1991 1992
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
EXHIBIT L-4
CITY OF WICHITA FALLS, TEXAS
REVENUE BONDS PAYABLE
50
40 —
30
ci)
d C
o
co
20
10 —
0
1988 1989 1990 1991 1992
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
EXHIBIT L-5
CITY OF WICHITA FALLS, TEXAS
TOTAL FUND EQUITY
150
�yam�,, 12t_. ', )..,n...
tY'
t
�f 1
V
g
, ,_ =
.0 0
c:
50
0
1988 1989 1990 1991 1992
YEARS ENDED SEPTEMBER 30,
■ RESERVED/DESIGNATED 111 UNRESERVED/UNDESIGNATED
(UNAUDITED)
EXHIBIT L-6
CITY OF WICHITA FALLS, TEXAS
COMPARISON OF TAX LEVY AND TAX COLLECTIONS
15
10 -
CA
d �
: di
=1
Q
5 - •
'9t
•F 1�
0
1983 1984 1985 1986 1987 1988 1989 1990 1991 1992
YEARS ENDED SEPTEMBER 30,
TAX LEVY TAX COLLECTIONS
(UNAUDITED)
EXHIBIT L-7
CITY OF WICHITA FALLS, TEXAS
REVENUES BY SOURCE - FOR THE YEAR ENDED SEPTEMBER 30, 1992
27,537,999 (42.6%)
/ .
/
1,689,399(2.6%)
N 5,296,798 (8.2%)
NVINOW 5,255,974 (8.1%)
5,793,347 (9.0%)
19,138,051 (29.6%)
■ TAXES ■ LICENSES; PERMITS; FINES ■ RENTS AND CONCESSIONS
SERVICE CHARGES INTERGOVERNMENTAL INTEREST AND MISC.
(UNAUDITED)
EXHIBIT L-8
CITY OF WICHITA FALLS, TEXAS
REVENUES BY SOURCE - FOR THE YEAR ENDED SEPTEMBER 30, 1991
26,410,274 (41.5%)
i
1,368,990 (2.2%)
5,557,173 (8.7%)
N
N
6,103,498 (9.6%)
4,571,988 (7.2%)
19,584,629 (30.8%)
I '. TAXES LICENSES; PERMITS; FINES ® RENTS AND CONCESSIONS
• SERVICE CHARGES INTERGOVERNMENTAL ■ INTEREST AND MISC.
(UNAUDITED)
EXHIBIT L-9
CITY OF WICHITA FALLS, TEXAS
EXPENDITURES BY FUNCTION - FOR THE YEAR ENDED SEPTEMBER 30, 1992
INTERNAL SERVICE (8.2%) PARKS & RECREATION (4.4%)
CAPITAL PROJECTS (2.5%)
ADMINISTRATIVE(15.7%) WATER& SEWER (18.4%)
N.)
TRANSIT (1.1%) ., AIRPORT (0.4%)
TRAFFIC( .8%)
FIRE (8.9%)
SANITATION (8.2%)
PLANNING (0.4%)
HEALTH (3.6%)
POLICE (14.3%) PUBLIC WORKS (8.0%)
ACCOUNTING & FINANCE (0.7%) DEBT SERVICE (3.7%)
(UNAUDITED)
EXHIBIT L-10
CITY OF WICHITA FALLS, TEXAS
EXPENDITURES BY FUNCTION - FOR THE YEAR ENDED SEPTEMBER 30, 1991
INTERNAL SERVICE(8.6%) PARKS & RECREATION (4.3%)
CAPITAL PROJECTS (2.4%) -
WATER & SEWER (18.6%)
ADMINISTRATIVE (16.0%)
N
TRANSIT (0.9%) T IRAFFIIC ço.4%)
ORT
FIRE (8.6%) SANITATION (7.7%)
PLANNING (0.4%)
HEALTH (3.3%)
POLICE (13.6%) PUBLIC WORKS (9.0%)
ACCOUNTING & FINANCE (0.7%) DEBT SERVICE (3.6%)
(UNAUDITED)
EXHIBIT L-11
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL REVENUES - (GENERAL FUND ONLY)
30
25
20
c
N 15_
1--a
10
5
()
1983 1984 1985 1986 1987 1988 1989 1990 1991 1992
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)
EXHIBIT L-12
CITY OF WICHITA FALLS, TEXAS
GENERAL GOVERNMENTAL EXPENDITURES - (GENERAL FUND ONLY)
35
30 -
25
20
O
15
10 -
5 --
0
1983 1984 1985 1986 1987 1988 1989 1990 1991 1992
YEARS ENDED SEPTEMBER 30,
(UNAUDITED)