2000 Annual Financial Report40
f: ,GJAIAL copy
CITY OF BANGER
September 30, 2000
TABLE OF CONTENTS
PAGE #
AUDITOR'S REPORT I
CITY OFFICIALS 2
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS 3
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES 4
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES -
BUDGET AND ACTUAL 5
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN RETAINED EARNINGS - PROPRIETARY FUND 6
COMBINED STATEMENT OF CASH FLOWS - PROPRIETARY FUND 7
NOTES TO FINANCIAL STATEMENTS 8-20
COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP STATE�LIENTS
COMBII�]ING STATEMENT OF REVENUES &EXPENDITURES
- GENERAL FUND 21
COMBINING STATEMENT OF REVENUES & EXPENDITURES
- SPECIAL REVENUE FUND 22
COMBINING STATEMENT OF REVENUES & EXPENDITURES
- GENERAL FUND - BUDGET AND ACTUAL 23
COMBINING STATEMENT OF REVENUES & EXPENDITURES
- SPECIAL REVENUE FUND - BUDGET AND ACTUAL 24
STATEMENT OF GENERAL FIXED ASSETS 25
SCHEDULE OF CHANGES TO GENERAL FIXED ASSETS 26
SCHEDULE OF PROPERTY, PLANT & EQUIPMENT - PROPRIETARY FUND 27
STATEMENT OF GENERAL LONG-TERM DEBT 28
SCHEDULE OF CHANGES IN GENERAL LONG-TERM DEBT 29
SCHEDULE OF GENERAL FUND DEBT SERVICE REQUIREMENTS 30
SCHEDULE OF CHANGES IN LONG-TERM DEBT - PROPRIETARY FUND 31
SCHEDULE OF PROPRIETARY FUND DEBT SERVICE REQUIREMENTS 32
SUPPLEMENTAL INFORMATION
SCHEDULE OF RESTRICTED ASSETS 33
SCHEDULE OF RESERVED FUND EQUITIES 34
SCHEDULE OF INSURANCE COVERAGE 35
ENTERPRISE FUND # OF CUSTOMERS AND RATES 36
ANALYSIS OF PROPERTY TAXES 37
William C. Spore, P.C.
Certified Public Accountants
Independent Auditor's Report
To the City Council
City of Sanger, Texas
We have audited the accompanying general-purpose financial statements of the City of
Sanger, Texas, as of and for the year ended September 30, 2000, as listed in the table of
contents. These general-purpose financial statements are the responsibility of the City of
;anger's management. Our responsibility is to express an opinion on these
general-purpose financial statements based on our audit,
We conducted our audit in accordance with generally accepted auditing standards and the
standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States. Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall 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 Sanger, Texas, as of
September 30, 2000, 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.
In accordance with Government Auditing Standards, we have also issued our report dated
February 16, 2001 on our consideration of the City of Sanger's internal control over
financial reporting and our tests of its compliance with certain provisions of laws,
regulations, contracts and grants.
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 and account
group financial statements and schedules listed in the table of contents are presented for
purposes of additional analysis and are not a required part of the general purpose financial
statement of the City of Sanger, Texas, Such information has been subjected to the
auditing procedures applied in the audit of the general purpose financial statements and, in
our opinion is fairly presented in all material respects in relation to the general purpose
financial statements t en as a whole.
G r jVAax-
William C. Spore, P.C.
February 16, 2001
60 Suite 102 # Gra evine TX 76051 # 817/421-6619
3950 Hi hwa 3 p ,
S y
CITY OF SANGER
CITY OFFICIALS
September 30, 2000
ELECTED OFFICIALS
MAYOR
MAYOR PRO TEM
COUNCILMEMBERS
APPOINTED OFFICIALS
CITY MANAGER
CITY SECRETARY/ASSISTANT CITY MANAGER
MUNICIPAL COURT JUDGE
CITY ATTORNEY
Tommy Kincaid
Andy Garza
Glenn Ervin
Joe Higgs
Carroll McNiell
Craig Waggoner
Jack Smith
Rosalie Chavez
Danny Spindle
Nichols, Jackson, Dillard,
Hager & Smith
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 2
CITY OF SANGER
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
ASSETS
Cash
Receivables, Net of
Allowances for Uncollectibles:
Property Taxes
Other Receivables
Services
Due from Other Funds
Inventory/Prepaid Expense
Restricted Assets - Cash
Property, Plant and Equipment
Net of Accumulated Depreciation
Construction in Process
Amount to be Provided for Retirement
of General Long -Term Debt
TOTAL ASSETS
LIABILITIES
Accounts Payable
Accrued Expenses
Due to Other Funds
Customer Deposits
Deferred Revenues
Long -Term Debt:
Compensated Absences
Revenue Bonds Payable
Certificate of Obligation Payable
Notes Payable
Capital Leases
TOTAL LIABILITIES
FUND EQUITY
Contributed Capital
Investment in General Fixed Assets
Retained Earning - Reserved
Retained Earning - Unreserved
Fund Balance - Reserved
Fund Balance - Unreserved
TOTAL FUND EQUITY
TOTAL LIABILITIES AND
FUND EQUITY
September 30, 2000
GOVERNMENTAL FUNDS TYPE
SPECIAL
GENERAL REVENUE
FUND FUND
$ 48,601 $ 0
70,208 0
41,024 20,274
0 0
11,697 0
0 0
47,670 297,379
0 0
0 0
0 0
$ 2191200 317,653
$ 55,950 0
0
0 0
0 0
70,208 0
0 0
0 0
0 0
0 0
0 0
126,158 0
0 0
0 0
0 0
0 0
47,192 201274
451850 297,379
93,042 317,653
$ 219,200 317,653
PROPRIETARYI
FUND TYPES
UTILITY
FUNDS
$ 335,887
0
7,999
511,371
0
437,414
464,346
5,667,578
461913
0
$ 7,472,308
530,996
68,554
11,697
103,804
0
35,162
2,760,000
0
421,035
69,471
41000,719
442,674
0
306$315
2,7221600
0
0
3,471,589
$ 7,472,308
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 3
ACCOUNT GROUPS TOTALS
GENERAL GENERAL LONG- (memorandum only)
FIXED ASSETS TERM DEBT 2000 1999
$ 0 $ 0 $ 384,488 $ 3587206
0 0 701208 69,386
0 0 691297 54,421
0 0 511,871 4381927
0 0 11,697 51029
0 0 437,414 245,655
0 0 809,695 903,763
3,063,257
0
0
0
0
2,644,670
y
G,O�F'F,O/ V
8,730,835
46,913
2,644,670
$ 13,717,088
0 0 68,554
11,697
0 0 1031804
0 0 70,208
0 40,600 75,762
0 0 21760,000
0 1,4101000 11410,000
0 11029,741 11450,776
_ 0 1641329 233,800
0 21644,670 61771,547
0 0 442,674
3,063,257 0 3,063,257
0 0 3061315
0 0 21722,600
0 0 67,466
0 0 3431229
3,063,257
945,541
8,265,010
2141283
1,832,218
$ 12,386,898
254,734
59,718
5,029
93,350
69,386
68,158
2,920,000
1,520,000
444,712
348,400
5,783,487
442,674
2,801,060
305,441
2,6 39,429
299,232
65,575
6,603,411
$ 3,063,257 $ 2,644,670 $ 13,717,088 $ 12,386,898
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 3
CITY OF SANGER
COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES
For the Year Ended September 30, 2000
TOTALS
SPECIAL (memorandum only)
REVENUES GENERAL REVENUE 2000 1999
Property Taxes $ 580,937 $ 0 $ 580,937 $ 5020660
Nonproperty Taxes 390,431 240,654 631,085 586,733
Penalties and Interest on
Delinquent Taxes 12,924 0 12,924 91953
License and Permits 28,793 0 281793 251244
Fees and Services 403,841 0 403,841 374,497
Grants and Intergovernmental 84,593 0 84,593 1021066
Interest Income 51212 101903 16,115 71246
Miscellaneous Income 13,118 0 131118 10,707
Donations 301787 0 30,787 29834
TOTAL REVENUES 1,550,636 251,557 11802,193 11621,940
EXPENDITURES
General Government 490,984 11013,067 11504,051 477,151
Public Safety 536,295 0 5361295 499,734
Highways and Streets 133,849 0 1331849 119,378
Health and Welfare 451200 0 45,200 309025
Culture and Recreation 2701563 0 2701563 255,357
Capital Outlay 263,898 0 2631898 266,663
Debt Service:
Principal 202,188 5523 207,711 187,270
Interest 1081477 91476 117,953 117,523
TOTAL EXPENDITURES 21051,454 11028,066 31079,520 119531101
EXCESS REVENUES OVER
(UNDER) EXPENDITURES (500,818) (776,509) (112771327) __ (331_,161)
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Notes Payable 167,763 8502000 11017,763 181,969
p Y
Sale of Assets 0 0 0 51000
Transfers In 305,452 0 305,452 357,743
TOTAL OTHER FINANCING
SOURCES (USES) 473,215 850,000 11323,215 _ 544,712
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES (27,603) 73,491 459888 213,551
FUND BALANCE - BEGINNING 1201645 244,162 364,807 151,256
FUND BALANCE -ENDING
$ 93,042 $ 317,653 $ 4109695
$ 364,807
SEE ACCOUNTANT'S REPORT AND NOTES ATTACHED Page - 4
CITY OF SANGER
COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
For the Year Ended September 30, 2000
REVENUES
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Delinquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
EXPENDITURES
General Government
Public Safety
Highways and Streets
Health and Welfare
Culture and Recreation
Capital Outlay
Debt Service:
Principal
Interest
TOTAL EXPENDITURES
EXCESS REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Notes Payable
Transfers In
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES
FUND BALANCE -ENDING
BUDGET
$ 566,795
4001500
4,000
44,499
3991250
93,000
3,400
30,000
27,432
,876
1,568
493,024
6611921
1181939
441900
2711280
2611537
110,000
91,490
21053,091
(484,215)
167,763
305,452
ACTUAL
$ 5801937
390,431
12,924
28,793
403,841
84,593
5,212
13,118
30,787
1,550,636
490,984
536,295
1331849
451200
2701563
2631898
202,188
108,477
21051,454
(500,818)
167,763
305,452
4731215 473,215
$_ 011000 (27,603)
1201645
$ 93,042
VARIANCE
$ 14,142
(102069)
8,924
(15,706)
4,591
(81407)
1,812
(16,882)
3,355
(18,240)
2,040
125,626
(14,910)
(300)
717
(2,361)
(92,188)
(16,987)
1,637
(16,603)
0
0
$�16,603)
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 5
0 0 0
0 0 0
0 0 0
0 0 0
2,000 101903 81903
0 0 0
0 0 0
233,100
251,557 18,457
BUDGET
$ 566,795
631,600
4,000
44,499
3991250
93,000
5,400
30,000
27,432
11801,976
(Memorandum Only)
ACTUAL
$ 580t937
6317085
12,924
28,793
403,841
84,593
16,115
13,118
30,787
1,802,193
118,550 1,013,067 (894,517) 611,574 1,504,051
0 0 0 661,921 5361295
0 0 0 1181939 1331849
0 0 0 44,900 451200
0 0 0 2711280 270,563
0 0 0 261,537 2631898
0
0
1181550
1141550
0
0
0
5,523
9,476
11028,066
(776,509)
850,000
0
73,491
244,162
$ 317,653
(5,523)
(9,476)
(909,516)
(891,059)
850,000
0
110,000
91,490
2,1711641
(369,665)
167,763
305,452
473,215
$ (41,059) 103,550
207,711
117,953
3,079,520
(1,277,327)
1,017,763
305,452
1,323,215
364,807
$ 410,695
VARIANCE
$ 14,142
(515)
8,924
(15,706)
4,591
(8,407)
10,715
(16,882)
3,355
217
(892,477)
1251626
(14,910)
(300)
717
(21361)
(97,711)
(26,463)
(907,879)
(907,662)
850,000
0
850,000
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
PAGE-5
CITY OF SANGER
COMBINED STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN RETAINED EARNINGS - PROPRIETARY FUND
For the Year Limed September 30, 2000
2000
OPERATING REVENUES
1999
Charges and Fees $ 4,086,359 $ 3,929,244
OPERATING EXPENSES
Personnel Services 745,233 629,610
Purchase of Services 21232,882 21077,216
Materials and Supplies 87,584 1091543
Depreciation 444,407 4081547
Franchise Fees 81,662 81,476
TOTAL OPERATING EXPENSES 35911768 31306/392
OPERATING INCOME
NONOPERATING REVENUES (EXPENSES)
Interest Income
Debt Service Interest, Fees & Discounts
Transfers Out
TOTAL NONOPERATING REVENUES
(EXPENSES)
NET INCOME
RETAINED EARNINGS -BEGINNING
RETAINED EARNINGS -ENDING
494.591
32,141
(187,235)
(305,452)
622.852
60,763
(170,385)
(357,743)
(460,546) (467,365)
34,045
2,994,870
$ 3,028,915
2,839,383
$ 2,994,870
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 6
CITY OF SANGER
COMBINED STATEMENT OF CASH FLOWS - ALL PROPRIETARY FUND TYPES
For the Year Ended September 30, 2000
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash Received from Customers $
Cash Payments to Suppliers for Goods
and Services
Cash Payments for Employees Services
NET CASH PROVIDED BY OPERATING ACTIVITIES
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:
Acquisition of Capital Assets
Additions to Long -Term Debt
Principal Paid on Bonds and Notes
Interest Paid on Bonds and Notes
Bond Issuance Costs
Cash Transferred to Other Funds
NET CASH USED FOR CAPITAL AND RELATED
FINANCING ACTIVITIES
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest on Investments
NET INCREASE (DECREASE) IN CASH
CASH -BEGINNING OF YEAR
CASH -END OF YEAR
Operating Income
2000
4,023,869
(2,281,098)
(740,030)
11002,741
(496,494)
111,882
(300,470)
(164,144)
0
(298,784)
1999
$ 4,013,262
(1,148,010)
30,655
(114,614)
9151147
$ 8001533 $
RECONCILIATION OF OPERATING INCOME TO NET
CASH PROVIDED BY OPERATING ACTIVITIES:
Adjustment to Reconcile Operating Income
to Net Cash Provided by Operating Activities:
Depreciation
(Increase) Decrease in Receivables
(Increase) Decrease in Inventory/Prepaid Expense
Increase (Decrease) in Accounts Payable
Increase (Decrease) in Accrued Expenses
Increase (Decrease) in Customer Deposits
NET CASH PROVIDED BY OPERATING
ACTIVITIES
(2,280,413)
(619,460)
11113,389
(1,214,097)
11980,513
(11832,210)
(200,528)
(147,303)
(345,694)
(1,759,319)
62,413
(583,517)
1,498,664
494591
,$ 622,852
444,407 408,547
(72,944) 90,258
(2081625) (11095)
3297455 (13,571)
51403 121638
10,454 (61240)
$ 1,002,741
$ 11113,389
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 7
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
NOTE A: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Sanger operates under a Council -Manager form of
government, following the laws of a Home Rule Charter City as
defined by the State of Texas. The City provides the following
services: public safety police, fire and ambulance, parks, streets,
sanitation, a public library senior center, community center and
general administrative services along with water, sewer and
electrical services.
The accounting policies of the City conform to generally accepted
accounting principles as applicable to governments. The following
is a summary of the more significant policies.
1. REPORTING ENTITY:
As required by generally accepted accounting principles, the
financial statements of the reporting entity include those of the
City of Sanger (the primary government) and its component units.
The following component units are included in the City's reporting
entity because of its operational and financial relationship with
the City.
The City has two blended component units as follows:
(4A) The Sanger Texas Industrial Development Corporation
is governed by a board of f ive directors, all %J whom
are appointed by the City Council of the City of Sanger and any of
whom can be removed from office by the City Council at its' will.
The S.T.I.D.C. was incorporated in the state of Texas as a
non-profit industrial development corporation under Section 4A of
the Development Corporation Act of 1979. The purpose of the
S.T.I.D.C. is to promote economic development within the City of
Sanger. Separate financial statements of the component unit can be
obtained from the City's administrative offices.
(4B) The Sanger Texas Development Corporation (S.T.D.C.) is
governed by a board of seven directors, all of whom are appointed
by the City Council of the City of Sanger and any of whom can be
removed from office by the City Council at its' will. The S.T.D.C.
was incorporated in the state of Texas as a non-profit industrial
development corporation under Section 4B of the Development
Corporation Act of 1979. The purpose of the S.T.D.C. is to promote
economic and community development within the City of Sanger.
Separate financial statements of the component unit can be obtained
from the Citv's administrative offices.
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
2. FUND ACCOUNTING:
The accounts of the City are organized on the basis of funds or
account groups, each of which is considered to be a separate
accounting entity. The operations of each fund are accounted for
by providing a separate set of self -balancing accounts which are
comprised of each fund's assets, liabilities, fund equity, revenues
and expenditures or expenses, as appropriate. Governmental
resources are allocated to and for individual funds based upon the
purposes for which they are to be spent and the means by which
spending activities are controlled. The various funds are grouped,
in the financial statements in this report, into two generic fund
types and two broad fund categories as follows.
GOVERNMENTAL FUND TYPES
General Fund
The general fund is the general operating fund of the City. It is
used to account for all financial resources except those required
to be accounted for in another fund.
PROPRIETARY FUND TYPES
Enterprise Funds
Enterprise funds are used to account for operations (a) that are
financed and operated in a manor similar to private business
enterprises - where the intent of the governing body is that 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, and/or net income is appropriate for capital
maintenance, public policy, management control, accountability, or
other purposes.
3. PROPERTY, PLANT AND EQUIPMENT AND LONG-TERM LIABILITIES:
The accounting and reporting treatment applied to property plant
and equipment and long-term liabilities associated with a fund are
determined by its measurement focus. All governmental fund types
are accounted for on a "financial flow" measurement focus. This
means that only current assets and current liabilities are
generally included on their balance sheets. Their reported fund
balance is considered a measure of "available spendable resources".
Governmental fund operating statements present increases (revenue
and other financing sources) and decreases (expenditures and other
financing uses) in net current assets. Accordingly, they are said
to present a summary of sources and uses of "available spendable
resources" during a period.
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
Plant, property and equipment used in governmental fund type
operations are accounted for in the General Fixed Assets Account
Group, rather than in governmental funds. No depreciation has been
provided on such property, plant and equipment.
All property, plant and equipment are valued at historical cost or
estimated historical cost if actual cost is not available. Donated
property, plant and equipment are valued at their estimated fair
value on the date donated.
Public domain "infrastructure" general fixed assets consisting of
certain improvements other than buildings, such as roads,
sidewalks, and bridges are not capitalized.
Long-term liabilities expected to be financed from governmental
fund types are accounted for in the General Long -Term Debt Account
Group, not in the governmental funds.
The two account groups are not "funds". They are concerned only
with the measurement of financial position. They are not involved
with measurement of results of operations.
Special reporting treatments are applied to governmental fund
prepaid expenses to indicate that they do not represent "available
spendable resources", even though they are a component of net
current assets. Such amounts are generally offset by fund balance
reserve accounts.
Because of their spending measurement focus, expenditure
recognition for governmental fund types is limited to exclude
amounts represented by non -current liabilities. Since they do not
affect net current assets, such long-term amounts are not
recognized as governmental fund type expenditures or fund
liabilities. They are instead reported as liabilities in the
General Long -Term Debt Account Group.
All proprietary funds are accounted for on a cost of services or
"capital maintenance" measurement focus. This means that all
assets and liabilities (whether current or noncurrent) associated
with their activity are included on their balance sheets. Their
report fund equity (net total assets) is segregated into
contributed capital and retained earnings components.
Depreciation is provided in the proprietary funds
sufficient to relate the cost of the depreciable
in amounts
Page - 10
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
4. BASIS OF ACCOUNTING:
Basis of accounting refers to when revenues and expenditures or
expenses are recognized in the accounts and reported in the
financial statements. Basis of accounting relates to the timing of
the measurement made, regardless of the measurement focus applied.
All governmental funds are accounted for using the modified
accrual basis of accounting. Their revenues are recognized when
they become measurable and available as net current assets. Gross
receipts and sales taxes are considered "measurable" when in the
hands of intermediary collecting governments and are recognized as
revenues at that time. All major revenues are susceptible to
accrual.
Expenditures are generally recognized under the modified basis of
accounting when the related fund liability is incurred. Exceptions
to this general rule include accumulated unpaid vacation and sick
time which are not accrued and principal and interest on general
long-term debt which is recognized when due.
All proprietary funds are accounted for using the accrual basis of
accounting. Their revenues are recognized when they are earned,
and their expenses are recognized when they are incurred.
5. BUDGETS AND BUDGETARY ACCOUNTING:
The City follows these procedures in establishing the budgetary
data reflected in the financial statements:
A: Prior to July 1, the City Manager submits to the City Council a
proposed operating budget for the fiscal year commencing the
following October 1. The operating budget includes proposed
expenditures and the means of financing them.
B: Public hearings are conducted to obtain taxpayer comments.
C: Prior to October 1, the budget is legally enacted through the
passage of an ordinance.
D: The City Manager is authorized to transfer budgeted amounts
between departments within any fund; any revisions that alter the
total expenditures of any fund must be approved by the City
Council.
E: Budgets for the General and Proprietary Funds are adopted on a
basis consistent with generally accepted accounting principles
(GAAP).
F: Unused appropriations for all of the above annually budgeted
funds lapse at the end of the fiscal year.
Page - 11
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
6. ENCUMBRANCES:
Encumbrances represent commitments related to unperformed contracts
for goods and services. Encumbrance accounting, under which
purchase orders, contracts and other commitments for the
expenditure of resources are recorded to reserve that portion of
the applicable appropriation, is utilized in the General Fund.
Encumbrances outstanding at year end are reported as reservations
of fund balances and do not constitute expenditures or liabilities
because the commitments will be honored during the subsequent year.
7. CASH:
At year-end the City's cash accounts totaled
$1,194,083 was held in checking, savings or c
accounts at a local bank. Of the Bank ba
covered by federal depository insurance
$1,086,737 was covered by collateral held by
agent in the name of the City. There were no
accounts.
$1,194,183 of which
ertificate of deposit
lances, $107,346 was
and the remaining
the pledging Bank's
uncollateralized cash
The securities pledged by the City's depository institution are as
follows: MW
SECURITY
FHLB Bond
2,300,000
11M
2,234,594
8. CAPITALIZED INTEREST:
The City capitalizes construction period interest when applicable.
There was no interest requiring capitalization during the fiscal
year.
9: INVENTORIES:
Inventories of the Enterprise Fund are valued at the lower of cost
(first -in, first -out) or market.
10. ACCUMULATED COMPENSATED ABSENCES:
It is the City's policy to permit employees to accumulate a limited
amount of earned but unused vacation and sick time, which will be
paid to employees upon separation from the City's service. In
governmental funds, the cost of vacation and sick leave is
recognized when paid. A long-term liability of $40,600 of accrued
vacation and sick leave has been recorded in the General Long -Term
Debt Account Group, representing the City's commitment to fund such
costs from future operations. Proprietary funds accrue vacation
leave in the period they are earned.
Page - 12
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
11. REVENUE RECOGNITION - PROPERTY TAXES:
Property taxes attach as an enforceable lien on property as of
January 1. Taxes are levied on October 1 and are due and payable
at that time. All unpaid taxed levied October 1 become delinquent
February 1 of the following year.
Property tax revenues are recognized when they become available.
Delinquent taxes are considered fully collectable and, therefore,
no allowance for doubtful taxes is provided.
12. ALLOWANCE FOR UNCOLLECTABLE ACCOUNTS:
Allowance for uncollectable accounts receivable in the Proprietary
Fund at September 30, 2000 is $49,670.
13: GRANT ACCOUNTING:
All grant funds received by the general fund are included as
intergovernmental revenues in the statements of revenues and
expenditures. All grant funds received by the proprietary fund
that are to be used for capital projects are recorded as
contributed capital in the balance sheet while grant funds received
for operating purposes are included in the proprietary fund
statement of revenues and expenses as other operating revenues.
There were no material grant funds received by the City during the
fiscal year ended September 30, 2000.
14. COMPARATIVE DATA:
Comparative data for the prior year have been presented in the
accompanying 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 in each of the statements) have not been presented
sI
nce their inclusion would make the statements unduly complex and
difficult to read.
15. TOTAL COLUMNS ON COMBINED STATEMENTS:
Total columns on the Combined Statements are captioned "memorandum
only" to indicate that they are presented only to facilitate
financial analysis. Data in these columns do not present financial
position, results of operations, or changes in financial position
in conformity with generally accepted accounting principles.
Neither is such data comparable to a consolidation. Interfund
elimination's have not been made in the aggregation of this data.
Page - 13
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
NOTE H: RETIREMENT PLANS:
Firemen's Pension Fund:
The City's firemen are covered
contributory plan is operated
and Retirement Funds. The
September 30, 2000 was $3,200,
Employee Retirement Plan:
by the firemen's pension plan. This
as part of the State Firemen's Relief
pension expense for the year ended
The City provides pension benefits for all of its full-time
employees through a non-traditional, joint contributory, defined
benefit plan in the state-wide Texas Municipal Retirement System
(TMRS), an agent multiple -employer public retirement system.
Benefits depend upon the sum of the employee's contributions to the
plan, with interest, and the City -financed monetary credits, with
interest. Members can retire at ages sixty and above with ten or
more years of service or with twenty five years of service
regardless of age. A member is vested after ten years.
The contribution rate for the employees is 5% of gross earning and
the City provides a monthly contribution of 3.78% of gross
earnings. This rate consists of the normal cost contribution and
the prior service contribution rate. The normal cost contribution
rate finances the currently accruing monetary credits and the prior
service contribution rate amortizes the unfunded (overfunded)
actuarial liability (asset) over the remainder of the plan's twenty
five year amortization period. The City's contributions for the
fiscal year totaled $46,338.
The schedule of Actuarial Liabilities and Funding Progress for the
year ended September 30, 2000 is as follows:
Actuarial valuation date 12/31/99
Actuarial valuation of assets $1,002,978
Actuarial Accrued Liability $ 925,529
Percentage funded 108.4%
Unfunded (Overfunded) actuarial accrued
liability (UAAL) $ (77,449)
Annual covered payroll $1,041,602
UAAL as percentage of covered payroll -7.4%
Net pension obligation - beginning $ 0
Annual required contributions $ 46,338
Contributions made $ (460338)
Net pension obligation - ending $ 0
Page - 14
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
The City of Sanger is one of 731 municipalities having the benefit
plan administered by TMRS. Each of the 731 Municipalities have an
annual, individual actuarial valuation performed. All assumptions
for the 12-31-99 valuations are contained in the 1999 TMRS
Comprehensive Annual Financial Report, a copy of which may be
obtained by writing to P.O. Box 149153, Austin, Texas 78714-9153.
NOTE C: LONG-TERM DEBT:
The following is a summary of the City's Long -Term Debt. The
future debt requirements are detailed in schedules included in
these financial statements.
General Long Term Debt:
Certificates of Obligation, Series 1994 - Original amount of
$1,900,000; principal paid annually starting September 1, 1995;
Interest paid semi-annually on March 1, and September 1, at rates
ranging from 5.60 to 7.50%. The Bonds were issued for street
improvements and library building construction and are to be repaid
from property tax revenues and are further secured by a pledge of
Enterprise Fund Net Revenues.
The Certificates of Obligation require that certain reserve
accounts be maintained.
Note Payable - Guarantee
$38,969, I requires
with the final installment
at 6% and has thirty two
National Bank - Original amount of
forty eight monthly installments of $914
due April 2003. The note bears interest
i
2000. The note proceeds we
nstallments remaining at September 30,
e used to purchase various pieces of
equipment, which also serve as collateral for the note.
Note Payable - Guarantee National Bank - Original amount of
$38,023, the note requires thirty six monthly installments of
$1,159 with the final installment due April 2003. The note bears
interest at 6% and has thirty one installments remaining at
September 30, 2000. The note proceeds were used to purchase a
police vehicle, which also serves as collateral for the note.
Note Payable
$53,540, the
Note Payable
$43,184, the
$1,029 with
interest at
Guarantee National Bank Original amount of
- Guarantee NationalOriginal amount of
note requires forty eight monthly installments of
the final installment due July 2004. The note bears
two percent under prime rate and has forty six
Page - 15
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
installments
were used to
for the note.
September 30, 2000
remaining at September 30, 2000. The note proceeds
I a dump truck, which also serves as collateral
Note Payable - Guarantee National Bank - Original amount of
$18,028, the note requires thirty six monthly installments of $555,
with the final installment due July 2003. The note bears interest
at two percent under prime rate and has thirty four installments
remaining at September 30, 2000. The note proceeds were used to
purchase a Chevy truck, which also serves as collateral for the
note.
Note Payable - Guarantee National Bank - Original amount of
$14,998, the note requires thirty six monthly installments of $461,
with the final installment due September 2003. The note bears
interest at two percent under prime rate and has thirty six
installments remaining at September 30, 2000. The note proceeds
were used to purchase a Dodge pickup, which also serves as
collateral for the note.
Note Payable - Guarantee National Bank - Original amount of
$850,000, the note requires one hundred eighty monthly installments
of $7,499, with the final installment due July 2015. The note
bears interest at two percent under prime rate and has one hundred
seventy eight installments remaining at September 30, 2000. The
note proceeds were used to purchase land for a development project
between the Sanger Texas Industrial Development Corporation and
Walmart Stores East, Inc. The loan will be repaid from the 4A sales
tax proceeds to be collected by the Sanger Texas Industrial
Development Corporation.
Capital Lease - Midwest Bankers Group - Original balance of
$172,179. The lease requires a down payment of $13,150 (paid in
February 1995) plus nine annual rental payments of $24,105
beginning in February 1996, The City has a purchase option during
the term of the lease to purchase the equipment at a designated
early term/purchase option price. The City intends to exercise
this option at the end of the lease term. The proceeds of the
Lease were used to purchase a new pumper fire truck. The truck is
security for the lease.
Capital Lease - Ford Motor Credit Company - Original balance of
$14,300. The lease requires forty eight monthly rental payments of
$338, with thirteen payments remaining at September 30, 2000. The
City has a purchase option during the term of the lease to purchase
the equipment at a designated purchase option price. The City
intends to exercise this option at the end of the lease term. The
proceeds of the lease were used to purchase a Asphalt Roller. The
equipment is security for the lease.
Capital Lease - Ford Motor Credit Company - Original balance of
$46,548. The lease requires thirty six monthly rental payments of
$1,401, with fourteen payments remaining at September 30, 2000.
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
The City has a purchase option during the term of the lease to
purchase the equipment at a designated purchase option price. The
City intends to exercise this option at the end of the lease term.
The proceeds of the lease were used to purchase two police
vehicles. The vehicles are security for the lease.
Capital Lease - Ford Motor Credit Company - Original balance of
$95,453, The lease requires thirty six monthly rental payments of
$2,903 with fifteen payments remaining at September 30, 2000. The
City has a purchase option during the term of the lease to purchase
the equipment at a designated purchase option price. The City
intends to exercise this option at the end of the lease term. The
proceeds of the lease were used to purchase four vehicles. The
vehicles are security for the lease.
Capital Lease - Lubbock National Bank - Original balance of
$36,753. The lease requires sixty monthly rental payments of $734,
with twenty six payments remaining at September 30, 2000. The City
has a purchase option during the term of the lease to purchase the
equipment at a designated purchase option price. The City intends
to exercise this option at the end of the lease term. The proceeds
of the lease were used to purchase computer hardware and software.
The equipment is security for the lease.
Proprietary Fund:
Texas Utility System Refunding and Improvement Revenue Bonds,
Series 1991 - Original amount of $2,230,000, principal paid
annually on May 15, Interest paid semi-annually on May 15 and
November 15, at rates ranging from 4.70% to 7.15%. Maturities 2002
through 2011 of the Bonds were advance refunded in June 1999 by the
issuance of Texas Utility System Refunding Revenue Bonds, Series
2000. Maturities 2000 and 2001 will be retired as scheduled.
Texas Utility System Revenue Bonds, Series
of $1,0600,000, principal paid annually on
semi-annually on May 15 and November 15, at
to 4.75%. The bonds were issued to provide
- Original amount
15; Interest paid
ranging from 4.2%
for improving and
extending the City's Sewer System, The Bonds are to be repaid
and are secured by the Enterprise Fund Net Revenues.
1996
May
rates
funds
from
Texas Utility System Refunding Revenue Bonds, Series 1999 -
Original amount of $1,735,000, principal paid annually on May 15;
Interest paid semi-annually on May 15 and November 15, at rates
ranging from 4.25% to 4.40%. The bonds were issued to provide
funds sufficient to advance refund maturities 2002 through 2011 of
the City's outstanding Series 1991 Bonds. The Bond proceeds were
used to purchase U.S. government securities. These securities were
deposited into an irrevocable trust to provide for debt service of
maturities 2002 through 2011. As a result, that portion of the
1991 series bonds is considered defeased, and the City has removed
Page - 17
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
the liability from its accounts. The outstanding principle of the
defeased bonds is $1,580,000 at September 30, 2000.
The 1999 Bonds are to be repaid from and are secured by the
Enterprise Fund Net Revenues.
The Bond Obligations require that certain cash reserve accounts be
maintained.
Note Payable - Guarantee National Bank - Original amount of
$325,000, the note is due on demand, if no demand is made then the
note requires five annual principal payments of $65,000 beginning
in December 1998. The note bears interest at 6.5% with annual
interest payments also due each December until the note is paid in
full. The note proceeds were used to construct a ground storage
tank and to paint one of the City's water towers.
Note Payable - Guarantee National Bank - Original amount of
$169,076, the note requires forty eight monthly installments of
$3,967 with the final installment due April 2003. The note bears
interest at 6% and has thirty two installments remaining at
September 30, 2000. The note proceeds were used to purchase various
pieces of equipment, which also serve as collateral for the note.
Note Payable - Guarantee National Bank - Original amount of
$17,934, the note requires thirty six monthly installments of $547
with the final installment due April 2003. The note bears interest
at 6% and has thirty one installments remaining at September 30,
2000. The note proceeds were used to purchase a city vehicle, which
also serves as collateral for the note.
Note Payable - Guarantee National Bank - Original amount of
$2916521 the note requires thirty six monthly installments of $912,
with the final installment due August 2003. The note bears
interest at two percent under prime rate and has thirty four
installments remaining at September 30, 2000. The note proceeds
were used to purchase a Ford pickup, which also serves as
collateral for the note.
Note Payable - Guarantee National Ba:
$64, 296, the note is due on demand, if
note require
improvements.
s one annual payment,
2000. The note proceeds
ik - original amount of
no demand is made then the
in
Capital Lease - Ford Motor Credit Company - Original balance of
$40,432. The lease requires sixty monthly rental payments of $779,
with twenty six payments remaining at September 30, 2000. The City
has a purchase option during the term of the lease to purchase the
equipment at a designated purchase option price. The City intends
to exercise this option at the end of the lease term. The proceeds
of the lease were used to purchase a New Holland Backhoe. The
equipment is security for the lease.
Page - 18
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
Capital Lease - Ford Motor Credit Company - Original balance of
$32,657. The lease requires thirty six monthly rental payments of
$983, with fourteen payments remaining at September 30, 2000. The
City has a purchase option during the term of the lease to purchase
the equipment at a designated purchase option price. The City
intends to exercise this option at the end of the lease term. The
proceeds of the lease were used to purchase a vehicle. The vehicle
is security for the lease.
Capital Lease - Ford Motor Credit Company - Original balance of
$43,781. The lease requires thirty six monthly rental payments of
$1,318 with fifteen payments remaining at September 30, 2000. The
City has a purchase option during the term of the lease to purchase
the equipment at a designated purchase option price. The City
intends to exercise this option at the end of the lease term. The
proceeds of the lease were used to purchase two vehicles. The
vehicles are security for the lease.
Capital Lease - Lubbock National Bank - Original balance of
$36,753, The lease requires sixty monthly rental payments of $734,
with twenty seven payments remaining at September 30, 2000. The
City has a purchase option during the term of the lease to purchase
the equipment at a designated purchase option price. The City
intends to exercise this option at the end of the lease term. The
proceeds of the lease were used to purchase computer hardware and
software. The equipment is security for the lease.
NOTE D: DEBT SERVICE REQUIREMENTS NEXT FIVE YEARS:
Debt service requirements for each of the next five years are as
follows:
General Fund: Proprietary Fund:
Principal Interest Principal Interest
2001 $320,423 $1561595 $ 303,453 $ 149,979
2002 259,956 139,900 328,797 126,451
2003 246,649 1261554 299,256 110,552
2004 230,353 112,759 195,000 97,333
2005 200,015 97,603 200,000 89,202
Future 1.346,674 351,192 1.924,000 394.0063
Total $2.6041,070 $ 984,603 $3.250,506 $ 967,580
NOTE E: PURCHASE COMMITMENT:
On June 5, 1995 the City entered into a eight year contract with
the Brazoz Electric Power Cooperative, Inc., whereby the City
purchases electric power and energy at agreed upon rates, subject
to a fuel adjustment charge and power adjustment on demand and
energy charges. Power purchased for the current fiscal year totaled
$11669,307.
Page - 19
CITY OF SANGER
NOTES TO FINANCIAL STATEMENTS
September 30, 2000
NOTE F: INTERFUND RECEIVABLE AND PAYABLE:
At September 30, 2000 the Proprietary Fund owed the General Fund
$11,697. The receivable and payable result from one fund paying an
expenditure for another fund.
NOTE G: BUDGET EXCEPTIONS:
In February 2001 the City Council of the City of Sanger amended the
original 1999/2000 budgeted revenues and expenditures. Budgeted
Proceeds of Notes Payable were increased $38,023 for the Police
department, $114,752 for the Street department, and $14,988 for the
Administration department and Budgeted Capital Outlay for each of
the departments were increased by the same amount to recognize
capital additions made during the fiscal year that were funded from
the proceeds of notes payable.
Budgeted transfers in (revenues) were reduced by $169,678 to
accurately reflect the amount of transfers from the proprietary
fund to the general fund. Budgeted expenditures were reduced as
follows to reflect the decrease in transfers in: Police department
expenditures reduced by $1,567, Fire department expenditures
reduced by $24,569, Street department expenditures decreased by
$77,613, Parks department expenditures reduced by $54,061, and the
Swimming Pool department expenditures were reduced by $11,8689
Library budgeted capital additions were increased by $21,432.
These capital additions were funded from a $27,432 donation from a
Local family which were not originally budgeted but were included
I
n the budget amendment.
ACCOUNT GROUP FINANCIAL STATEMENTS
& SCHEDULES
CITY OF SANGER
COMBINING STATEMENT OF RNT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANC ALANCES - SPECIAL REVENUE FUND
REVENUES
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Deliquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
EXPENDITURES
General Government
Public Safety
Highways and Streets
Health and Welfare
Culture and Recreation
Capital Outlay
Debt Service:
Principal
Interest
TOTAL EXPENDITURES
For the Year Ended September 30, 2000
ADMINI- SANITA-
TRATION I POLICE FIRE I TION
161,650 0 0 0
12,924 0 0 0
28,793 0 0 0
6552 85,328 0 298,687
0 0 66,350 0
51212 0 0 0
13,118 0 0 0
21735 0 0 0
8111921 85,328 66,350 2981687
2089525 0 0 282,459
0 4351920 1001375 0
0 0 0 0
45,200 0 0 0
0 0 0 0
29,740 69,456 0 0
10,129 20,176 44,870 0
11104 21431 111256 0
2941698 527,983 156,501 282,459
EXCESS REVENUES OVER
(UNDER) EXPENDITURES 517,223
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Pay. 14,988
Transfers In 305,452
TOTAL OTHER FINANCING
SOURCES (USES) 3201440
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITU $ 8371663
171PI7�1 e ► ► ► ►
FUND BALANCE -ENDING
(442,655) (90,151) 16,228
38,023 0 0
0 0 0
38,023 0 0
$ 404,632) $ (90,151) $ 16,228
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 21
COMMUNITY
SWIMMING & SENIOR
STREETS I FLBRARY I PARKS POOL CENTERS TOTAL
$ 0 $ 0 $ 0 $ 0 $ 0 $ 5801937
228,781 0 0 0 0 390,431
0 0
0 0
0 2,569
0 18,243
0 0
0 0
0 27,432
228,781 481244
0
0
0
0
0
0
620
620
0
0
6,680
0
0
0
0
6,680
0 12,924
0 28,793
4,025 4031841
0 84,593
0 5,212
0 13,118
0 30,787
4,025 11550,636
0 0 0 0 0 490,984
0 0 0 0 0 5361295
1331849 0 0 0 0 133,849
0 0 0 0 0 451200
0 76,497 142,287 31,696 20,083 270,563
115,264 46,704 11096 0 11638 2631898
107,213 19,800 0 0 0 202,188
77,266 16,420 0 0 0 108,477
4331592 159,421 1431383 31,696 211721 21051,454
(204,811) (111,177) (142,763) (25,016) (17,696) (500,818)
114,752 0 0 0 167,763
0 0 0 0 0 305,452
114,752 0 0 0 0 473,215
$ (90,059) $ (111,177) $ (142,763) $ (25,016� $_ (171696) (27,603)
120,645
$ 93,042
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 21
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - SPECIAL REVENUE FUND
REVENUES
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Deliquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
For the Year Ended September 30, 2000
MOTEL ECON4DEVEL. ECO BEVEL. A7TOTAL
$ 0 $
11,872
0
0
0
0
1,098
0
0
12,970
0 $
1141391
0
0
0
0
4,082
0
0
118,473
0 $ 0
114,391 2401654
0 0
0 0
0 0
0 0
5,723 101903
0 0
0 0
120.114 251.557
EXPENDITURES
General Government 2,757 110039582 61728 11013,067
Public Safety 0 0 0 0
Highways and Streets 0 0 0 0
Health and Welfare 0 0 0 0
Culture and Recreation 0 0 0 0
Capital Outlay 0 0 0 0
Debt Service:
Principal 0 51523 0 51523
Interest 0 91476 0 91476
TOTAL EXPENDITURES 21757 11018,581 61728 110281066
EXCESS REVENUES OVER
(UNDER) EXPENDITURES 101213 (900,108) 1131386 (776,509)
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Pay. 0 850,000 0 8501000
Transfers In 0 0 0 0
TOTAL OTHER FINANCING
SOURCES (USES) 0 8501000 0 8501000
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES 101213 (50,108) 113,386 73,491
FUND BALANCE - BEGINNING 51,715 96,293 , 96154 244,162
— 9 -- 4 -
FUND BALANCE - ENDING $ 61,928 $ 46,185 $ 209,540 $ 317,653
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 22
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
REVENUES
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Delinquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
For the Year Ended September 3012000
ADMINISTRATION
BUDGET IACTUAL E VARIANCE
$ 5661795 $ 580,937 $
170,500 161,650
41000 12,924
44,499 28,793
101000 6,552
0 0
31400 51212
30,000 13,118
0 2,735
829,194 811,921
EXPENDITURES
General Government 2331824
Public Safety 0
Highways and Streets 0
Health and Welfare 44,900
Culture and Recreation 0
Capital Outlay 34,589
Debt Service:
Principal 0
Interest 0
TOTAL EXPENDITURES 3131313
EXCESS REVENUES OVER
(UNDER) EXPENDITURES 5151881
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable 14,988
Transfers In 305,452
TOTAL OTHER FINANCING
SOURCES (USES) 320,440
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES $ 8361321
208,525
0
0
45,200
0
29,740
10,129
1,104
294,698
517,223
14,988
305,452
320.440
14,142
(8,850)
8,924
(15,706)
(3,448)
0
1,812
(16,882)
2,735
(17,273)
25,299
0
0
(300)
0
4,849
(10,129)
(1,104)
18,615
0
0
0
$ 837,663
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 23
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
REVENUES
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Delinquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
For the Year Ended September 30, 2000
POLICE
BUDGET ACTUAL ] VARIANCE
$ 0 $
0
0
0
73,750
0
0
0
0
73,750
0
0
85,328
0
0
0
0
85,328
0
0
0
0
11,578
0
0
0
0
11,578
EXPENDITURES
General Government 0 0 0
Public Safety 5101420 4351920 74,500
Highways and Streets 0 0 0
Health and Welfare 0 0 0
Culture and Recreation 0 0 0
Capital Outlay 69,456 691456 0
Debt Service:
Principal 0 20,176 (20,176)
Interest 0 21431 (21431)
TOTAL EXPENDITURES 5791876 5271983 511893
EXCESS REVENUES OVER
(UNDER) EXPENDITURES (506,126) (442,655) 63,471
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable 381023 381023 0
Transfers In 0 0 0
TOTAL OTHER FINANCING
SOURCES (USES) 381023 38,023 0
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES $ (468,103) $ 404,632) $ 63,471
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 23
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
For the Year Anded September 30, 2000
FIRE
REVENUES BUDGET ACTUAL j VARIANCE
Property Taxes $ 0 $ 0 $ 0
Nonproperty Taxes 0 0 0
Penalties and Interest on
Delinquent Taxes 0 0 0
License and Permits 0 0 0
Fees and Services 0 0 0
Grants and Intergovernmental 781000 661350 (11,650)
Interest Income 0 0 0
Miscellaneous Income 0 0 0
Donations 0 0 0
TOTAL REVENUES 78,000 66,350 (11,650)
EXPENDITURES
General Government 0 0 0
Public Safety 151,501 1001375 51,126
Highways and Streets 0 0 0
Health and Welfare 0 0 0
Culture and Recreation 0 0 0
Capital Outlay 51000 0 51000
Debt Service:
Principal 0 44,870 (44,870)
Interest 0 11,256 (11,256)
TOTAL EXPENDITURES 1561501 156,501 0
EXCESS REVENUES OVER
(UNDER) EXPENDITURES (78,501) (901151) (11,650)
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable 0 0 0
Transfers In 0 0 0
TOTAL OTHER FINANCING
SOURCES (USES) 0 0 0
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES $ (78,501) 901151) 11,650
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 23
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
For the l uar Ended September 30, 2000
SANITATION
REVENUES BUDGET ACTUAL VARIANCE
Property Taxes $ 0 $ 0 $ 0
Nonproperty Taxes 0 0 0
Penalties and Interest on
Delinquent Taxes 0 0 0
License and Permits 0 0
Fees and Services 300,000 2981687 (11313)
Grants and Intergovernmental 0 0 0
Interest Income 0 0 0
Miscellaneous Income 0 0 0
Donations 0 _ _ 0 0
TOTAL REVENUES 300,000 2989687 (11313)
EXPENDITURES
General Government 2591200 282,459 (23,259)
Public Safety 0 0 0
Highways and Streets 0 0 0
Health and Welfare 0 0 0
Culture and Recreation 0 0 0
Capital Outlay 0 0 0
Debt Service:
Principal 0 0 0
Interest 0 0 0
TOTAL EXPENDITURES 259,200 282,459 (23,259)
EXCESS REVENUES OVER
(UNDER) EXPENDITURES 40,800 16228 (24,572)
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable
Transfers In
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES
0
V
$ 40,800 $ _ 16_228
C
$ 24,572
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 23
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
For the Year Ended September 30, 2000
STREETS
REVENUES I BUDGET ACTUAL I VARIANCE
Property Taxes $ 0 $ 0 $ 0
Nonproperty Taxes 2301000 228,781 (11219)
Penalties and Interest on
Delinquent Taxes 0 0 0
License and Permits 0 0 0
Fees and Services 0 0 0
Grants and Intergovernmental 0 0 0
Interest Income 0 0 0
Miscellaneous Income 0 0 0
Donations 0 _ 0 0
TOTAL REVENUES 230,000 228,781 (11219)
EXPENDITURES
General Government
Public Safety
Highways and Streets
Health and Welfare
Culture and Recreation
Capital Outlay
Debt Service:
Principal
Interest
TOTAL EXPENDITURES
EXCESS REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable
Transfers In
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES
0
0
1181939
0
0
115,264
90,200
75,022
399,425
(169,425)
114,752
0
114,752
$ (54,673)
0
0
133,849
0
0
115,264
107,213
77,266
433,592
(204,811)
114,752
0
114,752
$ (90,059)
0
0
(14,910)
0
0
0
(17,013)
(2,244)
(34,167)
(35,386)
0
0
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 23
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
For the Year Ended September 30, 2000
REVENUES
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Delinquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
EXPENDITURES
General Government
Public Safety
Highways and Streets
Health and Welfare
Culture and Recreation
Capital Outlay
Debt Service:
Principal
Interest
TOTAL EXPENDITURES
EXCESS REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable
Transfers In
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES
LIBRARY
BUDGET ACTUAL] VARIANCE
0
0
1,500
15,000
0
0
27,432
1932
43
0
0
2,569
18,243
0
0
27,432
48,244
0
0
1,069
3,243
0
0
0
4,312
0 0 0
0 0 0
0 0 0
0 0 0
731311 76,497 (31186)
321432 46,704 (14,272)
19,800 19,800 0
16,468 16,420 48
142,011 159,421 (17,410)
(98,079) (111,177) (13,098)
0 0 0
0 0 0
0 0 0
$ (98,079) $ (1111177) $ (131098)
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 23
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
For the Year Ended September 30, 2000
PARKS
REVENUES BUDGET ACTUAL VARIANCE
Property Taxes $ 0 $ 0 $ 0
Nonproperty Taxes 0 0 0
Penalties and Interest on
Delinquent Taxes 0 0 0
License and Permits 0 0 0
Fees and Services 0 0 0
Grants and Intergovernmental 0 0 0
Interest Income 0 0 0
Miscellaneous Income 0 0 0
Donations 0 620 620
TOTAL REVENUES 0 620 620
EXPENDITURES
General Government 0 0 0
Public Safety 0 0 0
Highways and Streets 0 0 0
Health and Welfare 0 0 0
Culture and Recreation 142,287 142,287 0
Capital Outlay 11096 15096 0
Debt Service:
Principal 0 0 0
Interest 0 0 0
TOTAL EXPENDITURES 1431383 1431383 0
EXCESS REVENUES OVER
(UNDER) EXPENDITURES (143,383) (142,763) 620
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable 0 0 0
Transfers In 0 0 0
TOTAL OTHER FINANCING
SOURCES (USES) 0 0 0
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES $ (143,383) $ (142,763) $ 620
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 23
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
For the Year Ended Septenrher 30, 2000
SWIMMING POOL
REVENUES F BUDGET ACTUAL VARIANCE
Property Taxes $ 0 $ 0 $ 0
Nonproperty Taxes 0 0 0
Penalties and Interest on
Delinquent Taxes 0 0 0
License and Permits 0 0 0
Fees and Services 111000 61680 (41320)
Grants and Intergovernmental 0 0 0
Interest Income 0 0 0
Miscellaneous Income 0 0 0
Donations 0 0 0_
TOTAL REVENUES 11,000 61680 (41320)
EXPENDITURES
General Government 0 0 0
Public Safety 0 0 0
Highways and Streets 0 0 0
Health and Welfare 0 0 0
Culture and Recreation 311696 31,696 0
Capital Outlay 0 0 0
Debt Service:
Principal 0 0 0
Interest 0 0 0
TOTAL EXPENDITURES 31,696 311696 0
EXCESS REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable
Transfers In
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES
(20,696)
0
0
(25,016)
(4,320)
0
0
0
$ 4,320
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 23
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Delinquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
For the Year p nued September 30, Z000
COMMUNITY & SENIOR CENTERS
BUDGET ACTUAL_ I VARIANCE
0 0
0 0
31000 41025
0 0
0 0
0 0
0 0
31000 41025
EXPENDITURES
General Government 0 0
Public Safety 0 0
Highways and Streets 0 0
Health and Welfare 0 0
Culture and Recreation 23,986 201083
Capital Outlay 31700 11638
Debt Service:
Principal 0 0
Interest 0 0
TOTAL EXPENDITURES 27,686 21,721
EXCESS REVENUES OVER
(UNDER) EXPENDITURES (24,686) (17,696)
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable 0 0
Transfers In 0 0
TOTAL OTHER FINANCING
SOURCES (USES) 0 0
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES $ (24,686) $ (171696)
E�
0
0
0
0
1,025
0
0
0
0
1,025
0
0
0
0
3,903
2,062
0
0
5,965
6,990
0
0
�7
6,990
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 23
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - GENERAL FUND
For the Year Ended September 30, 2000
REVENUES
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Delinquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
EXPENDITURES
General Government
Public Safety
Highways and Streets
Health and Welfare
Culture and Recreation
Capital Outlay
Debt Service:
Principal
Interest
TOTAL EXPENDITURES
EXCESS REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable
Transfers In
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES
FUND BALANCE -BEGINNING
FUND BALANCE -ENDING
TOTAL
BUDGET ACTUAL_ ] VARIANCE
$ 5667795 $ 5801937 $ 14,142
4001500 390,431 (10,069)
41000 129924 81924
44,499 28,793 (15;706)
3991250 4031841 41591
93,000 84,593 (81407)
31400 51212 11812
307000 13,118 (16,882)
27,432 30,787 31355
1,568,876 1,550,636 (18,240)
493,024 490,984 2,040
6611921 5361295 1251626
1181939 133,849 (14,910)
441900 451200 (300)
2711280 2701563 717
2611537 263,898 (21361)
110,000 202,188 (92,188)
91,490 108,477 (16,987)
21053,091 2,0511454 11637
(484,215)
167,763
305,452
473.215
$ (11,000)
(500,818)
167,763
305,452
473,215
(27,603)
120,645
$ 93,042
(16,603)
0
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 23
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - SPECIAL REVENUE FUND
For the Year Ended September 30, 2000
REVENUES
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Delinquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
EXPENDITURES
General Government
Public Safety
Highways and Streets
Health and Welfare
Culture and Recreation
Capital Outlay
Debt Service:
Principal
Interest
TOTAL EXPENDITURES
EXCESS REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable
Transfers In
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES
FUND BALANCE - BEGINNING
FUND BALANCE -ENDING
NOTEL/MOTEL
$ 0 $
1,100
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,872
0
0
0
0
1,098
0
0
12,970
2,757
0
0
0
0
0
0
0
0
2,757
10,213
0
0
0
10,213
51,715
$ 61,928
VARIANCE
$ 0
10,772
0
0
0
0
1,098
0
0
11,870
(2,757)
0
0
0
0
0
0
0
(21757)
N
u
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 24
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - SPECIAL REVENUE FUND
REVENUES
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Delinquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
For the Year Ended September 30, 2000
ECONOMIC DEVELOPMENT -SECTION 4A
BUD I ACTUAL] I VARIANCE
$ 0 $
115,000
0
0
0
0
1,000
0
0
116,000
EXPENDITURES
General Government 116,000
Public Safety 0
Highways and Streets 0
Health and Welfare 0
Culture and Recreation 0
Capital Outlay 0
Debt Service:
Principal 0
Interest 0
TOTAL EXPENDITURES 116,000
EXCESS REVENUES OVER
(UNDER) EXPENDITURES 0
0 $
114,391
0
0
0
0
4,082
0
0
118,473
1,003,582
0
0
0
0
0
5,523
9,476
11018, 581
(900,108)
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable 0 850,000
Transfers In 0 0
TOTAL OTHER FINANCING
SOURCES (USES) 0 850,000
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES $ 0 (50,108)
FUND BALANCE - BEGINNING 96,293
FUND BALANCE = ENDING $ 46,185
0
(609)
0
0
0
0
3,082
0
0
2,473
(887,582)
0
0
0
0
0
(5,523)
(9,476)
(902,581)
(900,108)
850,000
0
850,000
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 24
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES = SPECIAL REVENUE FUND
For the Year Anded Septenther 30, 2000
REVENUES
Property Taxes
Nonproperty Taxes
Penalties and Interest on
Delinquent Taxes
License and Permits
Fees and Services
Grants and Intergovernmental
Interest Income
Miscellaneous Income
Donations
TOTAL REVENUES
EXPENDITURES
General Government
Public Safety
Highways and Streets
Health and Welfare
Culture and Recreation
Capital Outlay
Debt Service:
Principal
Interest
TOTAL EXPENDITURES
EXCESS REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable
Transfers In
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES
FUND BALANCE -BEGINNING
FUND BALANCE -ENDING
ECONOMIC DEVELOPMENT -SECTION 40
BUDGET ACTUAL VARIANCE
$ 0
1151000
0
0
0
0
1,000
0
0
00
116,0
2,550
0
0
0
0
0
0
0
2,550
1131450
0
0
0
$ 113,450
$ 0 $ 0
114,391 (609)
0
0
0
0
5,723
0
0
1201114
6,728
0
0
0
0
0
0
0
6,728
113,386
0
0
0
1131386 $
96,154
$ 209,540
0
0
0
0
0
0
0
(609)
(4,178)
0
0
0
0
0
0
0
(41178)
4,787)
0
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 24
CITY OF SANGER
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - SPECIAL REVENUE FUND
For the Year Ended September 30, 2000
TOTAL _
REVENUES I tsu DGET L ACTUAL VARIANCE
Property Taxes $ 0 $ 0 $ 0
Nonproperty Taxes 231,100 2401654 91554
Penalties and Interest on
Delinquent Taxes 0 0 0
License and Permits 0 0 0
Fees and Services 0 0 0
Grants and Intergovernmental 0 0 0
Interest Income 21000 10,903 87903
Miscellaneous Income 0 0 0
Donations 0 0 0
TOTAL REVENUES 233,100 2511557 180457
EXPENDITURES
General Government
Public Safety
Highways and Streets
Health and Welfare
Culture and Recreation
Capital Outlay
Debt Service:
Principal
Interest
TOTAL EXPENDITURES
EXCESS REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Proceeds of Capital Leases/Note Payable
Transfers In
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES
FUND BALANCE -BEGINNING
FUND BALANCE -ENDING
118,550
0
0
0
0
0
0
0
118,550
114,550
0
0
C
$ 114,550
1,013,067
0
0
0
0
0
5,523
9,476
110281066
(7761509)
8501000
0
8501000
73,491
244,162
$ 317,653
(894,517)
0
0
0
0
0
(5,523)
(9,476)
(909,516)
(891,059)
850,000
0
850,000
059)
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 24
COST
Land
Buildings & Improvements
Equipment
Fire Equipment
Swimming Pool
INVESTMENT IN GENERAL
FIXED ASSETS
CITY OF SANGER
STATEMENT OF GENERAL FIXED ASSETS
For the Year Ending September 30, 2000
69,370
1,133,715
1,176,361
461,664
222.147
$ 3,063,257
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 25
CITY OF SANGER
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
COST
Land
Buildings & Improvements
Equipment
Fire Equipment
Swimming Pool
INVESTMENT IN GENERAL
FIXED ASSETS
For the Year Ending September 30, 2000
BEGINNINGl JUMMETIONS ENDING
$ 6%370 $ 0 $ 0 $ 69,370
11080,071 53,644 0 1,1331715
967,808 210,253 11700 11176,361
461,664 0 0 461,664
222,147 0 0 222,147
$ 2,801,060 $ 263,897 $
1,700 $ 3,063,257
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 26
CITY OF SANGER
SCHEDULE OF CHANGES IN PROPERTY, PLANT & EQUIPMENT
ENTERPRISE FUND
For the Year Ending September 30, 2000
BEGINNING ADDITIONS DELETIONS I ENDING
COST
Water System $ 2,565,528 $ 40,506 $ 0 $ 2,606,034
Sewer System 31357,300 157,830 0 3/5159130
Electric System 21583,122 95,294 0 2,678,416
Equipment 847,459 56,268 0 903,727
Furniture & Office Equipment 191,194 91712 0 200t9O6
Building Improvements 34,433 288,425 0 322,858
Easement 11500 0 0 11500
TOTAL COST $ 9,580,536 $ 648,035 $ 0 $ 10,228,571
ACCUMULATED DEPRECIATION
Water System $ 11016,073 $ 92,678 $ 0 $ 11108,751
Sewer System 961,055 991579 0 11060,634
Electric System 11449,844 150,689 0 11600,533
Equipment 520,123 781687 0 598,810
Furniture & Fixtures 151,748 13,452 0 165,200
Building Improvements 17,743 9$22 0 27,065
Easement 0 0 0 0
TOTAL ACCUMULATED DEPRECIATION $ 4,116,586 $ 444,407 $ 0 $ 4,560,993
NET PROPERTY, PLANT &EQUIPMENT $ 5,463,950 $ 5,667,578
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 27
CITY OF SANGER
STATEMENT OF GENERAL LONG - TERM DEBT
September 30, 2000
BOND OBLIGATIONS
Series 1994 Certificates of Obligation
NOTES PAYABLE
Guarantee National Bank
Guarantee National Bank
Guarantee National Bank
Guarantee National Bank
Guarantee National Bank
Guarantee National Bank
Guarantee National Bank
TOTAL NOTES PAYABLE
CAPITAL LEASES
Midwest Bankers
Lubbock National Bank
Ford
Ford
Ford
TOTAL CAPITAL LEASE OBLIGATIONS
ACCRUED COMPENSATED ABSENCES
Accrued Vacation Pay
Accrued Sick Pay
TOTAL ACCRUED COMPENSATED ABSENCES
TOTAL TO BE PROVIDED FOR. RETIREMENT
OF GENERAL LONG -TERM DEBT
27,018
33,131
51,478
41,553
17$096
14,988
8441477
82,180
17,007
4,226
18,947
41,969
28,000
$ 12,600
$ 1,410,000
1,029,741
164,329
40,600
$ 2,644,670
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 28
CITY OF SANGER
SCHEDULE OF CHANGES IN GENERAL LONG - TERM DEBT
For the Year Ended September 30, 2000
BEGINNING ADDITIONS IREDUCTION ENDING
BOND OBLIGATIONS
Series 1994 Certificates of Obligation
NOTES PAYABLE
Guarantee National Bank
Guarantee National Bank
Guarantee National Bank
Guarantee National Bank
Guarantee National Bank
Guarantee National Bank
Guarantee National Bank
TOTAL NOTES PAYABLE
CAPITAL LEASES
Midwest Bankers
Lubbock National Bank
Ford
Ford
Ford
TOTAL CAPITAL LEASES
ACCRUED COMPENSATED ABSENCES
Accrued Vacation Pay
Accrued Sick Pay
TOTAL ACCRUED COMPEN. ABSENCES
$ 1,520,000 $ 0 $ 110,000 $ 1,410,000
34,598 0 7,580 27,018
0 38,023 4,892 33,131
0 531540 21062 51,478
0 43,184 11631 41,553
0 18,028 932 17,096
0 14,988 0 14,988
0 850,000 51523 844,477
$ 34,598 $ 1,0171763 $ 22,620 $ 1,029,741
$ 99,598 $ 0 $ 17,418 $ 82,180
24,229 0 71222 17,007
7,870 0 31644 41226
34,231 0 15,284 18,947
73,492 0 31,523 41,969
$ 239,420 $ 0 $ 751091 $ 164,329
15,700 0
$ 38,200 $ 52500 $
0 $ 28,000
3,100 12,600
3,100 $ 40,600
TOTAL TO BE PROVIDED FOR RETIREMENT
OF GENERAL LONG -TERM DEBT $ 1,832,218 $ 1,023,263 $ 210,811 $ 2,644,670
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 29
CITY OF SANGER
DEBT SERVICE REQUIREMENTS - GENERAL LONG-TERM DEBT
Series 1994 Certificates of Obligation
Year Ending
September 30, PRINCIPAL
2001 $ 120,000
2002 1251000
2003 135,000
2004 1451000
2005 155,000
2006 165,000
2007 175,000
2008 1901000
2009 200,000
$ 11410,000
September 30, 2000
INTEREST
$ 82,440
75,720
68,657
60,963
52,625
43,635
33,900
23,400
12,000
$ 453,340
NOTE PAYABLE -GUARANTEE NATIONAL BANK
TOTAL
REQUIREMENTS
$ 202,440
200,720
2031657
205,963
207,625
208,635
208,900
213,400
2121000
$ 11863,340
Year Ending TOTAL
September 30, PRINCIPAL INTEREST REQUIREMENTS
2001 $ 10,437 $ 11447 $ 11,884
2002 101254 716 101970
2003 61327 72 61399
$ 27,018 $ 21235 $ 29,253
NOTE PAYABLE - GUARANTEE NATIONAL BANK
Year Ending
September 30,
2001
2002
2003
PRINCIPAL
$ 12,250
13,005
7,876
$ 33,131
INTEREST
$ 1,655
899
235
$ 2,789
NOTE PAYABLE -GUARANTEE NATIONAL BANK
Year Ending
September 30,
2001
2002
2003
2004
PRINCIPAL
$ 12,563
13,337
14,160
11,418
$ 51,478
INTEREST
$ 2,749
1,975
1,152
1,342
$ 7,218
NOTE PAYABLE -GUARANTEE NATIONAL BANK
Year Ending
September 30,
2001
2002
2003
2004
PRINCIPAL
$ 10,133
10,758
11,421
9,241
$ 41,553
INTEREST
$ 2,218
1,593
929
1,050
$ 5,790
TOTAL
REQUIREMENTS
$ 13,905
13,904
8,111
$ 35,920
TOTAL
15312
REQUIREMENTS
$ ,
15,312
15,312
12,760
$ 58,696
TOTAL
12,351
REQUIREMENTS
$
12,351
12,350
10,291
$ 47,343
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
PAGE - 30
CITY OF SANGER
DEBT SERVICE REQUIREMENTS - GENERAL LONG-TERM DEBT
September 30, 2000
NOTE PAYABLE - GUARANTEE NATIONAL BANK
Year Ending TOTAL
September 30, PRINCIPAL INTEREST REQUIREMENTS
2001 $ 51789 $ 868 $ 61657
2002 61146 511 61657
2003 5,161 385 51546
$ 17,096 $ 11764 $ 18,860
NOTE PAYABLE - GUARANTEE NATIONAL BANK
Year Ending TOTAL
September 30, PRINCIPAL INTEREST REQUIREMENTS
2001 $ 41758 $ 770 $ 5$28
2002 51052 476 51528
2003 51178 350 5,528
$ 14,988 $ 1,596 $ 161584
NOTE PAYABLE "GUARANTEE NATIONAL BANK
Year Ending TOTAL
September 30, PRINCIPAL INTEREST REQUIREMENTS
2001 $ 34,458 $ 551535 $ 891993
2002 36,839 532154 89,993
2003 39,385 50,608 89,993
2004 42,106 47,887 89,993
2005 451015 44,978 891993
2006 48,126 41,867 89,993
2007 51,451 381542 89,993
2008 55,006 34,987 89,993
2009 58,807 31,186 89,993
2010 62,870 27,123 89,993
2011 67,214 22,779 89,993
2012 71,859 18,134 89,993
2013 76,824 13,169 89,993
2014 82,132 71861 89,993
2015 72$85 2,609 74,994
$ 844,477 $ 490,419 $ 1,334,896
Capital Lease -Midwest Bankers
Year Ending
September 30,
Less Amount Representing
Interest
LEASE
14,243
$ 82,180
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
PAGE - 30
CITY OF SANGER
DEBT SERVICE REQUIREMENTS - GENERAL LONG-TERM DEBT
September 30, 2000
Capital Lease - LUBBOCK NATIONAL BANK
Year Ending
September 30,
2001
2002
2003
Less Amount Representing
Interest
PRINCIPAL
$ 8,803
8,803
2,201
$ 19,807
2,800
$ 17,007
Capital Lease -FORD MOTOR CREDIT
Year Ending
September 30,
2001
2002
Less Amount Representing
Interest
PRINCIPAL
$ 4,051
338
$ 4,389
163
4,226
Capital Lease -FORD MOTOR CREDIT
Year Ending
September 30,
2001
2002
Less Amount Representing
Interest
LEASE
PAYMENT
$ 16,813
2,802
19,615
Capital Lease -FORD MOTOR CREDIT
Year Ending LEASE
September 30, PAYMENT
2001 $ 34,838
2002 8,709
43,547
Less Amount Representing
Interest 1,578
$ 41,969
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 30
CITY OF SANGER
SCHEDULE OF CHANGES IN LONG - TERM DEBT - ENTERPRISE FUND
For the Year Ended September 30, 2000
REVENUE BOND OBLIGATIONS
Series 1991
Series 1996
Series 1999
TOTAL REVENUE BONDS
I�I�-��J1Tl_a1
Guarantee
National
Bank
Guarantee
National
Bank
Guarantee
National
Bank
Guarantee
National
Bank
Guarantee
National
Bank
TOTAL NOTES PAYABLE
CAPITAL LEASES
Lubbock National Bank
Ford Motor Credit
Ford Motor Credit
Ford Motor Credit
TOTAL CAPITAL LEASES
TOTAL LONG -TERM DEBT
BEGINNING1 IKEDUCTION ENDING
$ 2151000 $ 0 $
9701000 0
11735,000 0
$ 2,9201000 $ 0 $
105,000 $ 110,000
35,000 935,000
20,000 11715,000
160,000 $ 21760,000
150,114 0 32,891
17,934 21307
29,652 763
64,296 0
$ 111,882 $ 1001961 $
26,224
24,014
33,356
$ 108,980 $
$ 3,439,094 $
195,000
117,223
15,627
28,889
64,296
421.035
0 $ 7,179 $ 18,207
0 7,294 18,930
0 10,724 13,290
0 14,312 19,044
0 $ 39,509 $ 69,471
111,882 $ 300,470 $ 3,250,506
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
PAGE - 31
ties 1991 Revenue
Year Ending
September 30,
2001
CITY OF SANGER
DEBT SERVICE REQUIREMENTS - ENTERPRISE FUND
nds
PRINCIPAL
$ 110,000
1996 Revenue Bonds
Year Ending
September 30,
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
es '1999 Kevenue
Year Ending
September 30,
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
PRINCIPAL
$ 40,000
40,000
45,000
45,000
45,000
50,000
50,000
55,000
60,000
60,000
65,000
70,000
70,000
75,000
80,000
85,000
$ 935,000
ng bongs
PRINCIPAL
$ 20,000
140,000
1451000
1501000
155,000
165,000
170,000
180,000
190,000
195,000
2051000
$ 11715,000
September 30, 2000
INTEREST
$ 41,005
39,585
38,105
36,395
34,640
32,840
30,790
28,690
26,297
23,628
20,898
17,908
14,652
11,363
7,837
4,037
$ 408,670
INTEREST
$ 73,900
73,050
67,100
60,938
54,562
47,975
40,962
33,653
25,913
17,600
9,020
$ 504,673
TOTAL
REQUIREMENTS
$ 116,876
TOTAL
REQUIREMENTS
$ 81,005
79,585
83,105
81,395
79,640
82,840
80,790
83,690
86,297
83,628
85,898
87,908
84,652
86,363
87,837
89,037
$ 12343,670
TOTAL
REQUIREMENTS
$ 93,900
213,050
212,100
2101938
209,562
212,975
2101962
213,653
215,913
212,600
214,020
$ 21219,673
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
CITY OF SANGER
DEBT SERVICE REQUIREMENTS - ENTERPRISE FUND
September 30, 2000
NOTE PAYABLE - GUARANTEE NATIONAL BANK
Year Ending
September 30,
2001
2002
2003
PRINCIPAL
$ 65,000
65,000
65,000
$ 195,000
INTEREST
$ 12,675
8,450
4,225
$ 25,350
NOTE PAYABLE -GUARANTEE NATIONAL BANK
Year Ending
September 30,
2001
2002
2003
PRINCIPAL
$ 45,286
44,491
27,446
$ 117,223
INTEREST
$ 6,277
3,106
319
$ 9,702
NOTE PAYABLE -GUARANTEE NATIONAL BANK
Year Ending
September 30,
2001
2002
2003
PRINCIPAL
$ 5,778
6,135
3,714
$ 15,627
INTEREST
$ 781
424
112
$ 1,317
NOTE PAYABLE -GUARANTEE NATIONAL BANK
Year Ending
September 30,
2001
2002
2003
PRINCIPAL
$ 9,464
10,048
9,377
$ 28,889
INTEREST
$ 1,476
892
652
$ 3,020
NOTE PAYABLE -GUARANTEE NATIONAL BANK
Year Ending
September 30,
2001
PRINCIPAL
$ 64,296
11►j���1
TOTAL
REQUIREMENTS
$ 77,675
73,450
69,225
$ 220,350
TOTAL
REQUIREMENTS
$ 51,563
47,597
27,765
$ 126,925
TOTAL
REQUIREMENTS
$ 6,559
6,559
3,826
$ 16,944
10940
REQUIREMENTS
$ ,
10,940
10,029
$ 31,909
TOTAL
REQUIREMENTS
$ 68,154
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 32
CITY OF SANGER
DEBT SERVICE REQUIREMENTS - ENTERPRISE FUND
September 30, 2000
Capital Lease - LUBBOCK NATIONAL BANK
Year Ending
September 30,
2001
2002
2003
Less Amount Representing
Interest
LEASE
PAYMENT
$ 8,803
8,803
2,201
19,807
1,600
$ 18,207
Capital Lease -FORD MOTOR CREDIT
Year Ending
September 30,
2001
2002
2003
Less Amount Representing
Interest
LEASE
PAYMENT
$ 9,344
9,344
1,557
20,245
1,315
$ 18,930
Capital Lease -FORD MOTOR CREDIT
Year Ending
September 30,
2001
2002
Less Amount Representing
Interest
LEASE
PAYMENT
$ 11,796
1,967
13,763
473
$ 13,290
Capital Lease -FORD MOTOR CREDIT
Year Ending
September 30,
Less Amount Representing
Interest
LEASE
19,770
726
$ 19,044
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
PAGE - 32
CITY OF SANGER
GOVERNMENTAL AND PROPRIETARY FUNDS
SCHEDULE OF RESTRICTED CASH
September 30, 2000
GENERAL FUND
Police Department Funds
Beautification Board Funds
Library Funds
Park Department Fund
Certificate of Obligation Reserve and I & S Funds
TOTAL GENERAL FUND
SPECIAL REVENUE FUND
Hotel/Motel Fund
Economic Developemnt -Section 4A
Economic Developemnt -Section 4B
TOTAL SPECIAL REVENUE FUND
$ 812
1,666
556
6,158
38,478
$ 47,670
36,049
199,402
$ 297,379
ENTERPRISE FUND
Revenue Bond I & S Funds $ 690876
Revenue Bond Reserve Funds 243,782
Revenue Bond Emergency Fund 16,212
Customer Utility Deposits 106,329
Unspent 1996 Revenue Bond Funds 27,778
One Plus Program 176
Safety and Incentive Funds 493
TOTAL ENTERPRISE FUND
$ 464,646
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 33
CITY OF SANGER
GOVERNMENTAL AND PROPRIETARY FUNDS
SCHEDULE OF RESERVED FUND EQUITIES
GENERAL FUND
Police Department Fund
Beautification Board Funds
Library Funds
Park Departmnet Fund
Minimum Required Reserves, Interest and
Sinking Funds - 1994 Certificate of Obligation
TOTAL GENERAL FUND
SPECIAL REVENUE FUND
Hotel/Motel Fund
Economic Development -Section 4A
Economic Development -Section 4b
TOTAL SPECIAL REVENUE FUND
ENTERPRISE FUND
Minimum Required Reserves, Interest and
Sinking Funds -Revenue Bonds
One Plus Program
Safety and Incentive
TOTAL ENTERPRISE FUND
September 30, 2000
$ 812
1,666
556
6,158
38,000
$ 47,192
$ 61,928
36,049
199,402
$ 297,379
$ 305,646
176
493
$ 306,315
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
PAGE - 34
CITY OF SANGER
SCHEDULE OF INSURANCE COVERAGE
September 30„ 2000
AMOUNT OF
TYPE OF COVERAGE FROM TO COVERAGE CARRIER
Business Auto:
Liability 10/1/99 10/1/00 3,000,000 Texas Municipal League
Physical Damage 10/1/99 10/1/00 Actual Cash Value Texas Municipal League
Property Damage 10/1/99 10/1/00 Scheduled Equip. Texas Municipal League
31014,848
Workmen's Compensation 10/1/99 10/1/00 Statutory Texas Municipal League
Liability -
Law Enforcement Liability 10/1/99 10/1/00 1,0001000 Texas Municipal League
Errors & Omissions 10/1/99 10/1/00 1,000,000 Texas Municipal League
General Liability 10/1/99 10/1/00 31000,000 Texas Municipal League
Mobile Equipment 10/1/99 10/1/00 2461615 Texas Municipal League
Boiler & Machinery 10/1/99 10/1/00 5001000 Texas Municipal League
Employee Bond 6/24/00 6/24/01 10,000 Western Surety
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 35
CITY OF SANGER
PROPRIETARY FUND
SUPPLEMENTALINFORMATION
Septefriber 30, 2000
CLASSIFICATION OF CUSTOMERS
Residential 1,763
Commercial, Demand & City 179
NUMBER OF CONNECTIONS 11942
RESIDENTIAL
WATER RATES & COMMERCIAL
Deposit $ 50.00
First 1,000 Gallons (minimum) $ 14.25
1,000 TO 5,000 Gallons $ 2.25
5,000 TO 15,000 Gallons $ 2045
151000 TO 30,000 Gallons $ 2085
Over 30,000 Gallons $ 3.65
1,375
386
SEWER RATES RESIDENTIAL COMMERCIAL
Firs4-4 nf)n Gallons (minimum) $ 15.00 $ 21.00
Over 1,000 Gallons $ 1.00 $ 1.00
Maximum $ 30.00 $ NO MAX
SMALL LARGE
ELECTRIC RATES RESIDENTIAL COMMERCIAL COMMERCIAL
Deposit $ 100.00 $ 200.00 $ 200.00
Facility Charge $ 8.00/Month $ 12.50/Month $ --
Energy Charge $ .0621629/kwh $ .0676962/kwh $ .0237048/KWH
Demand Charge:
First 6 KWH (minimum) $ -- $ -- $ 53.39
Over 6KWH $ -- $ -- $ 8.29/kwh
I
GALLONS OF WATER METERED (APPROX.) 2231076,179
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 36
CITY OF SANGER
ANALYSIS OF TAXES RECEIVABLE
For the Year Ended September 30, 2000
2000 1999 1998 1997
OLL 5 506 69 ADJUSTED TAX R 84 208 8 431,649 407,970
Less: Collections and Adjustments 560,137 484,054 415,237 392,929
CURRENT YEAR TAXES RECEIVABLE -
END OF YEAR 24,071 22,644 16,412 15,041
PRIOR YEAR TAXES RECEIVABLE -
END OF YEAR 46,137 46,742 51,802 45,566
TOTAL TAXES RECEIVABLE -
END OF YEAR $ 70,208 $ 691386 $ 68,214 $ 60,607
Assessed Value
Tax Rate per $100
Percent of Current Taxes Collected to Billed
$ 111,724,586 $ 100,765,297 $ 91,334,817 $ 84,764,092
$ 0,5228 $ 0.5028 $ 094726 $ OA813
95.88% 9553% 96920% 96.31 %
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS PAGE - 37
WILLIAM C. SPORE, P.C.
Certified Public Accountants
3950 Hwy 360, Ste 102, Grapevine, Texas 16039
8174210006619
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING
BASED UPON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH GOVERNMENTAL AUDITING STANDARDS
To the City Council
City of Sanger, Texas
We have audited the financial statements of City of Sanger as of and for the year ended September 30,
2000, and have issued our report thereon dated February 16, 2001. We conducted our audit in
accordance with generally accepted auditing standards and the standards applicable to financial audits
contained in Government Auditing Standards, issued by the Comptroller General of the United States,
m li n
As part of obtaining reasonable assurance about whether City of Sanger's financial statements are free of
material misstatement, we performed tests of its compliance with certain provision of laws, regulations,
contracts and grants, noncompliance with which could have a direct and material effect on the
determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The
results of our tests disclosed no instances of noncompliance that are required to be reported under
Government Auditing Standards,
Internal Control Over Financial Reporting
In planning and performing our audit, we considered City of Sanger's internal control over financial
reporting in order to determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and not to provide assurance on the internal control over financial reporting.
Our consideration of the internal control over financial reporting would not necessarily disclose all
matters in the internal control over financial reporting that might be material weaknesses. A material
weakness is a condition in which the design or operation of one or more of the internal control
components does not reduce to a relatively low level the risk that misstatements in amounts that would
be material in relation to the financial statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing their assigned functions. We noted no
matters involving the internal control over financial reporting and its operation that we consider to be
material weaknesses.
This report is intended for the information and use of management, Honorable Mayor and City Council
of the City of Sanger, Texas, and is not intended to be and should not be used by anyone other than
these specified parties.
CZMoo
William C. Spore, P.C.
February 16, 2001
WILLIAM C. SPORE, P.C.
Certified Public Accountants
3950 Hwy 360, Ste 102, Grapevine, Texas 76059
817421-6619
To the City Council
City of Sanger, Texas
In planning and performing our audit of the general purpose financial statements of the
City of Sanger, Texas, for the year ended September 30, 2000, we considered its internal
control structure in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and not to provide assurance on the
internal control,
In accordance with Government Auditing Standards, we have issued our report dated
February 16, 2001 on our consideration of the City of Sanger's internal control over
financial reporting. However, during our audit we became aware of matters that are
opportunities for strengthening internal controls and operating efficiency. These matters
are as follows:
(1) The implementation of the Electric Departments inventory system has not been
fully accomplished at September 30, 2000. The personnel responsible for the day to day
updating of the inventory software should be fully trained in the use of the software and
the reports it will generate. Systems to accurately track disbursements from inventory to
the field should be implemented. Reports should be generated monthly and reviewed for
accuracy in order to insure the system is maintained regularly and is up to date.
Management of the City should be directly involved in the process of understanding the
system and using the management tools that it will provide. The perpetual system should
be matched to the physical inventory for accuracy and be used to determine the amount
and value of parts on hand.
We will review the status of these comments during our next audit engagement. We have
already discussed these comments and suggestion with the City Manager and City
Secretary, and we will be pleased to discuss them in further detail at your convenience, to
perform any additional study of these matters, or to assist you in implementing the
recommendations.
Sincerely,
William C. Spore, P.C.
February 16, 2001