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1981 Annual Financial ReportCITY OF BANGER, TEXAS ANNUAL FINANCIAL REPORT YEAR ENDED AUGUST 31, 1981 CITY OF BANGER, `TEXAS ANNUAL FINANCIAL REPORT YEAR ENDED AUGUST 31, 19i31 ELECTED CITY OFFICALS CITY COUNCIL Ralph B, Cole, 1`iayor Benny Bridges, Alderman Henry•Cooper,,Alderman Donn Nesbitt, Alderman Danny Spindle, Alderman Harvey W. Thomas, Alderman APPOINTED OFFICIALS Lloyd Henderson, City Manager Mary Jo Stover, City Secretary and Tax Assessor -Collector CITY OF SANGER, TEXAS TABLE OF CONTENTS Page Accountant's Report on Financial Statements and Supplemental Schedules A-1 FINANCIAL STATEPIENTS Combined Combined Balance Sheet - All Funds B-1 Combined Schedule of Bonds Payable B-2 General Fund Balance Sheet C-1 Statement of Changes in Fund Balance C-2 Statement of Revenue - Estimated and Actual C-3 Statement of Expenditures and Encumbrances C-4 Compared With Authorizations Utility Fund Balance Sheet D-1 Statement of Revenue and Expense D-2 Statement of Changes in Retained Earnings D-3 Tax And Warrant Interest And Sinlcin� Fund Balance Sheet E-1 Statement of Cash Receipts and Disbursements E-1 Capital Proaects Funds Balance Sheet F-1 Statement of Changes in Fund Balances F-2 Payroll Fund Balance Sheet G-1 Revenue Sharing Fund Balance Sheet H-1 Analysis of Changes in Fund Balance H-1 Statment of Revenues - Estimated and Actual H1 2 Summary Statement of Expenditures Compared H-2 With Authorizations CITY OF BANGER, TEXAS TABLE OF CONTENTS (Continued) P, age General Funded Debt Statement of General Funded Debt I-1 General Fixed Assets Statement of Changes in General Fixed Assets - By Sources J-1 NOTES TO THE FINANCIAL STATEMENTS Notes to the Financial Statements K-1/K-3 SUPPLEMENTAL SCHEDULES General Fund Detail Schedule of Expenditures and Encumbrances Compared With Authorizations Utility Fund Schedule of Revenue - Estimated and Actual Summary Schedule of Expenditures - Estimated and Actual Detail Schedule of Expenditures - Estimated and Actual STATISTICAL SECTION Property Tax Levies and Collections Utility Revenue Bonds - Principal and Interest Requirements Electric System Balance Sheet Utility Rates Insurance Coverage L-1/L-3 M-1 M-2 M-3 N-1 N-2 N-3 N-4 N-5 623 FIRST STATE BANK BLDG. DENTON, TEXAS 76201 817/387-8721 October 16, 1981 Mayor and City Council City of Sanger, Texas MEMBER: AMERICAN INSTITUTE CERTIFIED PUBLIC ACCOUNTANTS We have examined the financial statements of the various funds and account groups of the City of Sanger, Texas for the year ended August 31, 1981, listed in the foregoing table of contents. Except as explained in the following paragraph, our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. We were unable to satisfy ourselves as to plant and general fixed assets reflected in th Assets, because the City's accounting records The carrying value of such Utility Fund assets of the Utility Fund, e the carrying value of electric Utility Fund and General Fixed relating to such assets are incomplete. effects the amount of depreciation In our opinion, except for the effects of such adjustments, if any, as might have been necessary if we had been able to satisfy ourselves as to the carrying value of Utility Fund and General Fixed Assets and the resulting charge for depreciation, such financial statements present fairly the financial position of the various funds and account groups of the City of Sanger, Texas at August 31, 1981 and the results of operations of such funds for the year then ended, in conformity with generally accepted accounting principals applied on a basis consistent with that of the preceding year. It is our further opinion that the accounting requirements of the bond ordinances for the revenue bond issues have been met. The accompanying supplemental schedules and statistical section listed in the foregoing table of contents are not considered essential for the fair presentation of financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principals, but are presented as additional analytical data. This information has been subjected to the audit procedures applied in the examination of the financial statements mentioned above and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole. Maston A. Wright A-1 COMI�INLD SCIILDULGS - ALL I�UNllS CITY OF SANDER, 'TEXAS COMBINED BALANCE SHEET - ALL FUNDS AUGUST 31, 1980 and 1981 AssETs 1980 Cash $ 116,396 Investments 43,092 Accounts Receivable 135,003 Taxes Receivable 19,394 Due From Other Funds 1,444 Prepaid Expense 1,371 Restricted Assets 434,709 Fixed Assets (Net) 1,535,830 Accumulated Deficit of Sanger Electric System 60,863 Amount To Be Provided For The Retirement Of Bonds A 15,000 Total Assets LIABILITTE5 Certificate of Obligation Accounts Payable Advances Payable Accrued Liabilities Due to Other Funds Deposits Other Liability General Obligation Bonds Payable Note Payable - First National Bank of Sanger Revenue Bonds Payable Total Liabilities RESERVES, FUND BALANCES AND SURPLUS Contingent Liabiliti.c:s Reserves: Reserve For Uncollected Taxes - Delinquent Revenue Bond Debt Service Contributions Fund Balances Investment In General Fixed Assets Retained Earnings Total Reserves, Fund Balances and Surplus Total Liabilities, Reserves, Fund Balances & Surplus 1981 $ 108,744 30,615 163,714 21,308 1,443 2$51 338,994 1,678,114 74,788 10.000 $2,363�102 $2,430,271 39,974 31,691 1303910 109,342 33,750 28,750 153760 19,863 1,333 1,332 42,053 50,420 25,000 1,611 153000 10,000 14,856 14,856 9151000 880,000 1,230,G96 1,147,865 56,788 72,478 19,394 21,308 113,903 126,961 114,820 140,430 63,473 88,752 380,953 388,239 3834075 444,238 1,i32,406 152822406 $2,.3631102 22,430,271 'These financial statements and accompanying notes are subject to the accountant's opinion. B-1 CITY OF BANGER, TEXAS COMBINED SCHEDULE OF BONDS PAYABLE AUGUST 31, 1981� Description General Obligation Bonds Series 1973 Utility Revenue Bonds Series 1969 Series 1973 Series 1976 Series 1977 Total Utility Revenue Bonds Totals Interest Rates 5 1/2% to 5 7/8% 5 1/2% to 7 1/4% 4.9% •to 6% Dates 5/15, 11/15 5/15, 11/15 5/153 11/15 5/15, 11/15 These financial statements and accompanying notes are subject to the accountant's opinion. B-2 Final Bonds Issue Maturity Date Date Authorized Issued Retired Outstanding 1973 1983 $ 50,000 $ 50,000 $ 40,000 $ 10,000 1969 1985 150,000 150,000 120,000 30,000 1973 1993 295,000 295,000 45,000 250,000 1976 1995 305,000 305,000 35,000 270,000 1977 1996 360,000 3603000 30,000 330,000 1,110,000 1,110,000 230,000 880,000 $1,1601000 $11160,000 $ 270,000 $ 890,000 B-2 GENERAL FUND CITY OF SANGER, TEXAS GENERAL FUND BALANCE SHEET AUGUST 31, 1980 and 1981 ASSETS 1980 1981 Cash $,25,149 $ 29,165 Investments 6,037 25,252 Due From Other Funds: Payroll Fund 13126 1,125 Taxes Receivable - Delinquent 19,394 21,308 Total Assets $ 51,706 $ 76,850 LIABILITIES RESERVES AND FUND BALANCE State Court Tax Payable $ 48 $ -0- Total Liabilities $ 48 $ -0- Reserve For Uncollected Taxes - Delinquent $ 19,394 $ 21,308 Fund Balance 32,264 55,542 Total Liabilities, Reserves and Fund Balance $ 51,706 $ 76,852 These financial statements and accompanying notes are subject to the accountant's opinion. C-1 CITY OF BANGER, TEXAS GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE FOR THE YEARS ENDED AUGUST 31, 1980 and.1981 1980 Balance, Beginning of Year $ 40,925 Revenues $ 245,869 Expenditures (254�530) Excess of Revenues & Expenditures (8,661) Balance, End of Year $ 32,264 $ 286,112 (262,834) 1981 $ 32,264 23,278 $ 55,542 These financial statements and accompanying notes are subject to the accountant's opinion. C-2 CITY OF BANGER, TEXAS GENERAL FUND STATEMENT OF REVENUE - ESTIMATED AND ACTUAL (Rounded to the nearest dollar) FOR THE YEAR ENDED AUGUST 31, 1981 (Over) Final Under Budget Actual Budget General Property Taxes: Current Year's Levy $ 58,384 Prior Years' Levy � 5,652 Penalty and Interest 2,087 Total $ 50,000 $ 66,123: $(16,123) City Sales Tax $ 30,000 $ 40,13� $(10,135) Charges for Services: Mowing 109 Sanitation Service 58,793� Use of EOuipment 15 Total $ 54,000 $ 58,917 $ (4,917) Appropriation from Utility Fund $ -0- $ 87,551� $(87,551) Other Revenues: Grant Reimbursement 4,537 Fines 7,069 Franchise Tax 9,605 Occupation Tax and Permits 336 Other Fees and Permits 1,887 Rent 1,548 Tax Certificates 413 Interest 3,447 Miscellaneous 4,544 Total $ 36,091 $ 33,386 $ 2,705 Total Revenues $170,091 $286,112 $(116,021) These financial statements and accompanying notes are subject to the accountant's opinion. C-3. CITY OF SANGER, TEXAS GENERAL FUND STATEMENT OF EXPENDITURES AND ENCUMBRANCES COMPARED WITH AUTHORIZATIONS (Rounded to the Nearest Dollar) FOR THE YEAR ENDED AUGUST 31, 1981 (Over) Final Under Budget Actual Budget Administravtive $ 88,474 $ 83,356 $ 5,118 Fire Department 14,230 91797 4,433 Police Department 68,206 65,687 2,519 Street Department 58,388 40,324 18,064 Park Department 3,300 1,099 2,201 Appropriations to Other Funds 6,975 7,220 (245) Sanitation Department 46,083 55,351 (9,268) Total $ 285,656 $ 262,834 $ 22,822 These financial statements and accompanying notes are subject to the accountant's opinion. C-4 UTILITY FUND CITY OF BANGER, TEXAS UTILITY FUND BALANCE SHEET AUGUST 31, 1981 ASSETS Current Assets: Cash $ 70,698 Investments -0- Accounts Receivable (Less Allowance for Bad Debt) 163,714 Due from Payroll Fund 318 Other 2,551 Total Current Assets $ 237,281 Restricted Assets: Revenue Bond Debt Service: Cash - Revenue Bond Interest & Sinking Fund 68,844 Cash - Revenue Bond Reserve Fund 67,873 Cash - Emergency Fund 8,308 Revenue Bond Contruction: Cash 32,396 Investments 130,770 Customer Deposit - Brazos 30,803 Total Restricted Assets 338,994 Fixed Assets: Electric Plant 1,052,466 Water System 411,891 Sewer System 518,834 Furniture and Equipment 59,088 Easement 1,500 Less: Accumulated Depreciation (776)001) Total Fixed Assets 1,267,778 Accumulated Deficit of Sanger Electric System, Reimbursable by Brazos Electric Power Corporation 74,788 Total Assets $13918,841 These financial statements and accompanying notes are subject to the accountant's opinion, D-1 LIABILITIL'S Current Liabilities (Payable from Current Assets): Account Payable (Purchase Power & Operating & Maintenance) $ 109,342 Advances Payable to Brazos 28,750 Consumer Deposits 50,420 Certificate of Obligation 31,691 Total Current Liabilities (Payable from Restricted Assets): Accrued Revenue Bond Interest Payable 18,064 Revenue Bonds Payable - Current Portion 35,000 Total Total Current Liabilities Other Liabilities: Revenue Bonds Payable 880,000 Less Current Portion (35,000) Other 15611 Note Payable - first National Bank of Sanger 14,856 Total Other Liabilities Contingent Liability - Due to Brazos for Capital Improvement Contributions: Customers Others (Grant) Total Contributions Retained Earnings and rand Balance Total Liabilities 63,520 76,910 220,203 53,064 273,267 861,462 72,478 140,430 $1,918�841 D-1 C1'TY O1� BANGER, TEXAS UTILITY FUND STATEMENT OF REVENUE ANll EXPENSE FOR THE YEARS ENDED AUGUST 31, 1980 and 1981 1980 1981 Operating Revenue: Electricity Sales $ 767,334 $ 909,724 Water Sales_ �137,019 140,207,, -----___"_ 38 424 40 672 Sewer Charg�s > Discounts forfeited 9,227_, 10,895 Sale of Material 3,860 4,994 Miscellaneous 18,750 3,819 Total Operating Revenues 974,614 1,110,311 Operating Revenue Deductions: Sanger L^'lectric System 668,344 809,762 Water Department Less Utilities Exp. & Cap. Outlays 46,828 65,144 Sewer Department Tess Utilities Exp. & Cap. Outlays _ 27,470 27,157 Total Operating Revenue Deductions 742,642 902,063 Operating Revenue Before Depreciation 231,972 208,248 Depreci:�tion 40,185 47,929 Operating Revenue 191,787 160,319 Non -Operating Revenue (Expenses) Excess of Sanger Electric System Revenue Over Expenses -Allocable to Brazos (13,925) (668) Interest Earnings 42,175 35,536 'L2U,037 195,187 Non -Operating Expense Interest Expense & Fees on Revenue Bonds � 60,463 58,374 Net Revenue $_159,574 $ 136,81.3 These financial statements and accompanying notes are subject to the accountant's opinion. D-2 CITY OF SANGE[t, TEXAS UTILITY FUND STATEMENT OF CIIANGES IN RETAINED EARNINCS AND FUND BALANCE FOR THE YEAR ENDED AUGUST 31, 1981 Retained Earnings Balance Beginning of Year $ 383,075 Adjustment; Completion of Skelly Contract 255000 Balance as adjusted 408,075 Add; Net Revenue 123,755 Total Balance and Additions 531,830 Deduct: Appropriation to General Fund 87,592 Balance, End of Year $ 444,238 Bond Debt Service $ 1133903 -0- 113,903 136058 126,961 -0- $ 126,961 Total $ 496,978 25,000 521,978 136,813 87,592 $ 571,199 These financial statements and accompanying notes are subject to the accountant's. opinion. D-3 TAX AND WARRANT INTEREST AND SINKING FUND CITY OF SANGER, TEXAS TAX AND WARRANT INTEREST AND SINKING FUND BALANCE SHEET AUGUST 31, 1980 and 1981 A C�F.TC Cash 1980 1981 $ 5,348 LIABILITIES AND FUND BALANCE Fund Balance $ 4,192 $ 5,348 STATEPIENT OF CASH RECEIPTS AND DISBURSEMENTS FOR THE YEAR ENDED AUGUST 31, 1980 and 1981 Receipts: Interest $ 294 $ 342 Appropriation from General Fund 6,720 6,720 Total Receipts 73014 73062 Disbursements: Bond Retirements 5,000 5,000' Interest Payments 1,075 806 Agent's Fees/Bank Charges 70 100 Total Disbursements 6,145 5,906 Excess of Receipts Over Disbursements 869 1,156 Cash Balance, Beginning of Year 3,323 4,192 Cash Balance, End of Year 4,192 5,348 These financial statements and accompanying notes are subject to the accountant's opinion. E-1 CAPTIAL PROJECTS FUNDS CITY OF BANGER, TEXAS CAPITAL PROJECTS FUNDS BALANCE SHEET AUGUST 31, 1981 ASSETS Muncipal Building Total Assets FUND BALANCE Fund Balance 1973 General Obligations Improvements $ 22,097.00 $ 22,097.00 $ 22,097.00 These financial statements and accompanying notes are subject to the accountant's opinion. F-1 CITY OF SANGER, TEXAS CAPITAL PROJECTS FUNDS STATEMENT OF RECEIPTS AND DISBUTSEMENTS FOR THE YEAR ENDED AUGUST 31, 1981 Total All Funds Initial Project Authorization $ 50,000 Fund Balance, Beginning of Year 21,732 Add; Muncipal Building 22,097 Interest Income on Investments 365 /Deduct: Construction Project (225097) Fund Balances, End of Year $ 22,097 These financial statements and accompanying notes are subject to the accountant's opinion. F-2 PAYROLL FUNll Cash CITY OF SANGER) TEXAS PAYROLL FUND BALANCE SHEET AUGUST 31, 1980 and 1981 ASSETS LIABILITIES AND FUND BALANCE Payroll Taxes Payable Other Payable (Insurance, Credit Union) Due to Other Funds: General Fund Utility Fund Fund Balance (Deficit) Total Liabilities & Fund Balance 1980 1981 $ 2,930 276 321 1,015 1,014 318 318 (123) (201) $ 1,486 $ 2,930 These financial statements and accompanying notes are subject to the accountant's opinion. G-1 REVENUE S1lARING rUND CITY OF SANGER, TEXAS REVENUE SHARING FUND BALANCE SHEET AUGUST 31, 1980 and 1981 ASSETS Cash Investment - CD's Total Assets 1980 $ 320 5,088 $ 5,408 LIABILITIES AND FUND BALANCE Fund Balance $ 5,408 ANALYSIS OF CHANGES IN FUND BALANCE FOR THE YEARS ENDED AUGUST 31, 1980 and 1981 Balance, Beginning of Year Add; Excess of Revenues Over (Under) Expenditures Revenue Expenditures Total Balance, End of Year $ 7,655 9,961 12,208 (2,247) $ 5,408 1981 $ 604 5,363 $ 5,967 $ 5,967 $ 5,408 8,675 8,116 559 $ 5,967 These financial statements and accompanying notes are subject to the accountant's opinion. H-1 CITY OF SANDER, 'TEXAS REVENUE SHARING FUND STATEMENT OF REVENUE - ESTIMATED AND ACTUAL (Rounded to the Nearest Dollar) FOR THE YEAR ENDED AUGUST 31, 1981 Eleventh Entitlement Period Interest Income Total Final Budget $ 9,591 -0- $ 9,591 SUMMARX STATEIv1ENT OF EXPENDITURES COMPARED WITH AUTHORIZATIONS FOR THE YEAR ENDED AUGUST 31, 1981 Capital Expenditures: Environmental Protection Public Safety Total Cap.i.tal Expenditures Final Budget $ 5,000 4.100 Actual $ 8,388 287 $ 8,675 Actual $ 3,920 4,196 (Over) Under Budget $ 13203 (287) $ 916 (Over) Under Budget $ 1,080 (96) $ 984 These financial statements and accompanying notes are subject to the accountant's opinion. H-2 GLNIRAL I'UNllED DP:BT CITY OF BANGER, TEXAS STATEMENT OF GENERAL FUNDED DEBT AUGUST 31, 1980 and 1981 ASSETS 1980 1981 Amounts to be provided for Retirement of Debt $ 15,000 $ 10,000 Total Assets $ 15,000 $ 10,000 LIABILITIES AND FUND BALANCE Warrants Payable $ -0- $ General Obligation Bonds Payable 152000 10,000 Total Liabilities and Fund Balance 15,000 10,000 These financial statements and accompanying notes are subject to the accountant's opinion. I-1 GENERnL FIXED ASSETS CITY OF BANGER, TEXAS STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY SOURCES (Rounded to the Nearest Dollar) FOR THE YEAR ENDED AUGUST 31, 1981 General Fixed Assets Beginning of Year Additions Expenditures from General Fund General Fixed AsseL-s End of Year Improvements Machinery Other Than and Total Land Building Building Equipment $ 380,953 $ 8,683 $ 95,476 $ 151,672 7,286 -0- -0- 1,878 $ 388,239 $ 8,683 $ 95,476 $ 153,550 $ 125,122 5,408 $ 130,530 These financial statements and accompanying notes are subject to the accountant's opinion, J-1 NOTES TO Tl-� FINANCIAL STATEMENTS CITY OF BANGER, TEXAS NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 1981 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies of the City of Sanger, Texas conform to generally accepted accounting principles as applicable to govern- mental units. The following is a summary of the significant policies: Basis of Accounting The accounting records for general governmental operations are maintained on a modified basis. Revenues are recorded on the cash basis, except for property taxes, which are accrued. Delinquent taxes receivable at year-end are fully reserved. Expenditures are recorded at the time of payment. Unrecorded general fund payables at year-end are not accrued since such amounts are not material. The financial statements for are reflected on an accrual basis. Investments utility and enterprise operations Investments are stated at cost. Fixed Assets and Depreciation Fixed assets are recorded No the basis of original assets, except for those recorded in the Utility Fund, as General Fixed Assets with no depreciation recorded, on fixed assets of the Utility Fund has been determined straight-line method. Accounting for Sanger Electric System The records o if the system were and the results of with other utility intrafund accounts cost. Fixed are presented Depreciation by the Sanger Electric System 2. BANGER ELECTRIC SYSTEM The City has entered into an agreement, dated January 1, 1971 and amended July 11, 1973 with Brazos Electric Pocaer Cooperative, Inc., (Brazos) whereby Brazos has assumed full responsibility for CITY OF BANGER, TEXAS NOTES TO THE FINANCIAL STATEMENTS (Continued) AUGUST 31, 1981 the operation of the City's electrical distribution system. The agreement is terminable by either the City or Brazos upon one year's written notice and will.expire on December 31,1985. Brazos has guaranteed the City a minimum annual income from the operation of the system of an amount equal to the greater amount yielded by the methods described below: Method A 1. An amount equal to 5% of the gross annual revenues derived from operation of the City's system; and, 2. An amount equal to ad valorem which the City would other- wise receive from the property included in the City's system if such system and property were under private ownership, and, 3. An amount equal to the total amount of interest derived from an investment of $450,000 at a rate of 64 per annum; and, 4. An amount equal to the annual interest and principal require- ments for the existing bonded indebtedness of the City as of January 1, 1971, namely, Utility Revenue Bonds, Series 1969, except for that portion of $61,000 voted upon as refunding bonds of existing revenue bonds; or, Method B 1. An amount equal to,60% of the annual of electrical power and energy by the City's corresponding annual cost of electrical power and for such system, such reduction for cost made prior to application of the percentage a gross revenue from sales system reduced by the and energy purchased by of purchased power to be s herein set out. Brazos Electric Power Cooperative, Inc.- has advanced the System $50,000. The advance is unsecured, bears a current interest rate of and has no established due date. 3. FIRST LIEN AND PLEDGE OF THE NET REVENUES OF THE UTILITY BOARD The Utility Revenue Bonds are secured by a first lien and pledge on the net revenues of the Utility Fund. K-2 y CITY OF BANGER, TEXAS NOTES TO THE FINANCIAL STATEMENTS (Continued) AUGUST 31, 1981 4, DEBT SERVICE REQUIREMENTS The City is required under provision of revenue bond ordinances to maintain interest and sinking funds adequate for payments of interest and principal on the revenue bonds, and to establish reserve and emergency funds which are to be used only for payment of interest and principal iri the event there is not sufficient funds available in the required interest and sinking funds. For the year ended August 31, 1981 the required interest and sinking funds were adequately maintained and the required amounts of reserve and emergency funds have been established. 5. ADJUSTMENT TO UTILITY FUND On January 17, 1972 the City entered into an agreement with Skelly Oil Company (Skelly), for the extension of a sanitary sewer line. The City received $25,000 for the construction of the line. The amount became refundable to Skelly, based on connections to the line made by other customers. This amount was previously included in the Utility Fund as a liability. The specified number of connections were not made before 1980, therefore the City's liability to Skelly was not required to be paid. 6. CONTINGENT LIABILITY The $72,478 is a contingent liability which of the electric system. If Brazos Electric Coop System in a profitable manner thus reducing this is due from the City of Sanger. 7. CERTIFICATE OF OBLIGATION will be paid only by net profits cannot operate the Sanger Electric contingent liability, no payment The City of Sanger entered into an agreement with the First National Banlc of Sanger with regards of issuing a Certificate of Obligation for an original amount of $36,972.72. This Certificate was issued as part payment for emergency public improvements. The Certificate is scheduled to be reduced by annual payments beginning September 4, 1980 of $5,281.80 plus interest. All the City's payments will be reimbursed by Jesse A. Coffey, a local builder and developer. 8. SECURITY BOND The First National Bank of Sanger operates as the depository bank for the City of Sanger. The First National Banlc of Sanger pledged a bond totaling $570,000 as security for the City's cash accounts. K-3 SUPPLEMENTAL SCHEDULE GF,NERAL rUND CITY OF BANGER, TEXAS GENERAL FUND DETAIL SCHEDULE OF EXPENDITURES AND ENCUMBRANCES COMPARED WITH AUTHORIZATIONS FOR THE YEAR ENllED AUGUST 31, 1981 (Over) Final Under Budget Actual Budget Administrative: Salaries and Wages $ 45,124 $ 45,293 $ (169) Supplies 2,050 2,001 49 Maintenance -Structures 1,200 408 - 792 Maintenance -Equipment 1,700 1,370 330 Telephone 1,145 Insurance 2,131 Legal and Accounting 9,273 Advertising 565 Utilities 2,923 City Council Fees and Expenses 2,726 Tax Assessing and Collecting Expense 2,372 Contract Labor 3,032 Election Expense 678 Dues and Subscriptions 1,186 Rents 2,051 Other 2,554 Travel & Fees 1,276 $ 36,400 $ 31,912 $ 4,488 Capital Outlay 2,000 22372 (372) $ 88,474 $ 83,356 $ 5,118 Fire Department: Salaries and Wages $ 480 $ 600 $ (120) Fire Calls -0- 740 (740) Maintenance 4,200 2,840 1,360 Other Charges/Supplies 6,900 5,537 1,363 Capital Outlays 2,650 80 2,570 $ 14j230 $ 9,797 $ 4,433 L-1 r CITY OF BANGER, TEXAS GENERAL FUND DETAIL SCHEDULE OF EXPENDITURES AND ENCUMBRANCES COMPARED ialTH AUTHORIZATIONS (Continued) FOR THE YEAR ENDED AUGUST 31, 1981 (Over) Final Under Budget Actual Budget Sanitation Department; Salaries and Wages Supplies Maintenance -Landfill Maintenance -Equipment Insurance Contract Labor Other Charges Capital Outlays $ 25,283 $ 24,414 $ 869 1,275 3,765 (2,490) 8,600 9,923 (1,323) 4,500 8,113 (3,613) 2,975 5,569 261 2,225 8,805 (6,580) 4,200 331 3,869 $ 46,083 $ 55,351 $ (9,268) Parlc Department: Supplies $ 200 $ 35 $ 165 Maintenance 2,000 1,004 996 Other Charges lU0 -0- 100 Capital Outlays 1,000 60 940 $ 3,300 $ 1,099 $ 2,201 Appropriations to Other Funds General Obligatipn, Interest And Sinking Fund, Planning and Zoning $ 6,975 $ 7,220 $ (245) $ 6,975 $ 7,220 $ (245) L-2 CITY OF BANGER, TEXAS GENERAL FUND DETAIL SCHEDULE OF EXPENDITURES AND ENCUMBRANCES COMPAREll WITi�i AUT110RIZA'1'10N5 (Continued) FOR THE YEAR ENDED AUGUST 31, 1981 Police Department: Salaries Supplies Maintenance Telephone Insurance Corporation Court Expense Training Contract Labor Court Cost Other Charges Capital Outlays Street Department; Salaries and Wages Supplies Maintenance -Streets Maintenance -Equipment Insurance Utilities Contract Labor and Hauling Capital Outlays (Over) Final Under Budget Actual Budget $ 52,906 $ 49,855 $ 3,051 850 1,313 (463) 6,425 7,285 (860) 1,604 2,414 1,200 703 49 360 654 5,825 6,984 (1,159) 2,200 250 1,950 $ 68,206 $ 65,687 $ 2,519 1 21 4 779 $ 5.43�[ 1,275 248 1,027 1,700 5,645 (3,945) 3,850 8,438 4 588) 2,289 11,538 3,698 11,350 17,521 (6,171) 30,000 3,693 26,307 $ 58,388 $ 40,324 $ 18,064 L-3 SUPPLLMLNTAL SCIIL""DULLS UTILITY FUND Electricity Sales Water Sales Sewer Charges Sales of Material Miscellaneous Interest CITY OF SANGER, TEXAS UTILITY FUND SCHEDULE OF REVENUE - ESTIMATED AND ACTUAL (Rounded to the Nearest Dollar) FOR THE YEAR ENDED AUGUST 31, 1981 Final budget $ 130,000 40 , 000 4,200 2,500 20 , 000 $ 19Ei,700 Actual $ 140,207 40,672 4,994 3,129 35,536 $ 224,538 (Over) Under liuT get (672) (794) (629) (155536) * The City's budget included only an estimate of the amount of the Brazos Electric Power Cooperative, Inc.'s guarantee. M-1 1 CITY OF BANGER, TEXAS UTILITY FUND SUMMARY SCHL'llULL' OF EXPENDITURES - EST:TMATEU AND ACTUAL FOR THE YEAR ENDL'D AUGUST 31, 1981 Final Budge t Sanger Electric System Actual $ 809,762 (Over) Under Budget Water Department $ 86,940 $ 100,325 $ (13,385) Sewer Department 35,620 39,781 (4,161) Debt Service 9�f,568 88?493 6�075 $ 217,128 $ 228?599 $ (11,471) DETAIL SCHEDULE OF EXPENDITURES - ESTIr1ATED AND ACTUAL FOR THE YEAR ENllED AUGUST 31, 1981 Sanger Electric System- Cost of Purchased Power Labor Other Water Department: Salaries and Wages Supplies Repairs and Maintenance Uther Charges Capital Outlays (Over) Final Under Budi;e t Ac tua 1 Budd $ 711,240 61,383 37.139 $ 809,762 $ 29,609 $ 34,353 $ (4,744) 5,025 6,369 (1,344) 25,666 18,391 7,275 16,740 23,745 (7,005) 9,900 _____17y467 _ (7,567) $ 86,940 $ 100,325 $ (13,38 �) �'� The City's budget included only an estimate of the amount of Brazos L^'lectric Power Cooperative, Inc.'s Guarantee. 4;, M-2 CITY OF STINGER, TEXAS UTILITY IUND DETAIL SCHEDULE OF EXPENDITURES - ESTIMATED AND ACTUAL (Continues) FOR THE YEAR ENDED AUGUST 31, 1981 Sewer Department: Salaries and Wages Supplies Repairs and Maintenance Other Charges Capital Outlays Debt Service: Revenue Bonds Time Warrant (Computer) Final Budget $ 15,340 2,175 7,500 7,505 3,100 $ 35,620 $ 88,368 6,200 $ _ 94,568 Actual $ 15,346 2,819 6,533 8,736 6.347 $ 39,781 $ 88,493 -0- $ 88,493 (Over) Under Budget $ (6) (644) 967 (1,231) (3,247) $ (4,161) $ (125) 6,200 $ 6,075 ,F M-3 STATISTICAL SECTION Tax Year CITY OF BANGER, TEXAS PROPERTY TAX LEVIES AND COLLECTIONS YEAR ENDED AUGUST 31, 1981 Assessed Tax Value Levy Current Total Collections Percent Collections Percent 1969 $1,005,047 $ 9,042 $ 8,341 92.24% $ 8,600 95.11% 1970 1,061,557 9,474 8,819 93.09% 9,294 98.01% 1971 3,768,411 22,606 20,418 90.32% 21,509 95.15% 1972 4,029.693 24,165 22,760 94.19% 23,938 99.06% 1973 4,519,878 27,119 24,482 90.28% 25,100 92.56% 1974 5,411,061 32,466 29,088 89.60% 29,907 92.12% 1975 5,974,913 35,846 333067 92.25% 36,040 100.54% 1976 6,478,717 38,873 35,643 91.69% 39,244 100996% 1977 6,7823337 40,694 37,601 92.40% 393885 98.00% 1978 7,740,725 46,444 41,947 90.30% 44,368 95.50% 1979 8,655,680 60,821 52,391 86.10% 54,643 89.80% 1980 9,597,514 65,951 58,384 88.50% 5,652 97.10% Tax Rate - 1968 - 1970 $ .90 1971 - 1977 .60 1978 - 1981 .70 N-1 Year Ended August 31 CITY OF BANGER, TEXAS PRINCIPAL AND INTEREST REQUIREMENTS AUGUST 31, 1981 UTILITY REVENUE BONDS Principal. Interest Total 1982 $ 35,000 $ 50,943 $ 85,943 1983 40,000 48,768 88,768 1984 40,000 46,268 86,268 1985 45,000 43,818 88,818 1986 50,000 41,093 91,093 1987 50,000 38,181 88,181 1988 55,000 35,358 90,358 1989 60,000 32,209 92,209 1990 60,000 28,747 88,747 1991 65,000 25,264 90,264 1992 70,000 21,443 91,443 1993 75,000 17,239 92,239 1994 75,000 13,115 88,115 1995 75,000 8,990 83,990 1996 85,000 4,570 89,570 • 11• GENERAL OBLIGATION BONDS 1982 $ 5,000 $ 538 1983 5,000 269 $ 10,000 $ 807 $1,336,006 $ 5,538 5.269 $ 10,807 N-2 C1Y OF SANCGIt, TEXAS ELECTRIC SYSTEM (Operated by Brazos Electric Power Cooperative, In ASSETS Current Assets: Cash $ 28,573 Accounts Receivable - Customers 137,096 Contributions Receivable for Construction 16,978 Prepaid Expense - Sales Tax _ 940 Total Current Assets Restricted Assets: Cash - Consumer Deposits Utility Plant: Electric Plant in Service 1,039,404 Construction in Progress 13,062 Less: Accumulated Depreciation (404,718) Total Utility Plant Total Assets $ 183,587 30,803 647,748 $ 862,138 N-3 LIABILI'TLES Current Liabilities: Accounts Payable - Contract Guarantee $ 18,629 Deferred Credits 1,611 Accounts Payable - Purchased Power & Operating 109,342 Total Current Liabilities Other Liabilities: Consumer Deposits 30,803 Advancefrom Brazos Electric Power Coop., Inc. 28,750 Due to Brazos Electric for Capital Improvement _ 72,480 Total Other Liaiblities Contributions City of Sanger, Texas Retained Earnings (Deficit) Total Liabilities $ 129,582 132,033 740,719 (140,196) $ 862,138 N-3 CITY OF BANGER, TEXAS UTILITY RATES AUGUST 31, 1981 Water Rates First 3,000 gallons (minimum) Per 1,000 gallons thereafter Sanitation Rates Residential - Flat Rate Commerical - Flat Rate Sewer Rates Residential - Flat Rate Commercial - Flat Rate Number of Connections (August 31, 1981) Water Sewer Electric Water Usage $ 7.00 1.00 $ 4.50 5.50 $ 3.25 5.50 1,067 904 1,165 72,834,360 gallons N-4 CITY OF BANGER, TEXAS INSURANCE COVERAGE AUGUST 31, 1981 Policy Policy Period Number Company From To TMP286-478 American States It1Su1'anCC'. Co. O1/O1/81 01/Ol/82 WC407-977029 Crum I'orster Insurance Co. O1/09/81 Ol/09/82 542-399-481 American States Insurance Co. 11/19/80 11/19/81 1685603 Western Surety Bond Co. 08/06/81 08/06/82 1473446 Western Surety Bond Co. � 02/18/81 02/18/82 1625077 Western Surety Bond Co. 08/18/80 08/18/82 1711178 1574246 Western Surety Bond Co. Ol/21/80 08/21/81 TMP286-478 American STate Insurance Co. Ol/O1/$1 O1/O1/$2 VP104239 Hartford Accident & Indemnity Co. O1/19/81 Ol/19/82 GF-179-659 American States Insurance Co. 11/16/80 11/16/81 8002002189 GP27403 46SR231260 Western Life Insurance Co. Industrial Surplus Line Insurance Co iartford Accident & Indemnity Co. Ol/26/81 Ol/20/81 O1/26/84 Ol/20/82 Co -Insurance Limit of Coverage Percent Liabilit City Hall and Post Office - Fire and Extended Coverage 80 $ 80,000 Contents of City Office - Fire and Extended Coverage 80 35,000 Electric Lighting, Water Pump Plant, Water Tanlcs 80 296,000 Contents of Above 80 84,000 12M Gallon Steel Fuel Oil Storage 80 6,000 All Fire and Extended Coverage Treatment Plant & Lift Stations 249,600 Contents of Above 100,000 Warehouse - 101 Cherry St. - Fire and Extended Coverage 80 1,000 Contents - 101 Cherry ST. - Fire and Extended Coverage 80 4,000 Fire Station - 201 Cherry St. 20,000 Workmen's Compensation Statutory Automobile Fleet Policy - All City Vehicles Bodily Injury 100/300M Property Damage 10,000 Comprehensive ACV Collision - ($250 Deductible) ACV Surety Bond - City Manger 10,000 Surety Bond - City Secretary 10,000 Surety Bond - Clerk (2) 5,000 Surety Bond - Electricians 1,000 General Liability Bodily Injury 300,000 Property Damage 29,800 Medical 500 Premises Medical Payments 10,000 Volunteer Fire Department 1968 Wayne Street Sweeper 22,485 1973 Ford Bacichoe 1976 John Deere 'Tractor All Risk Coverage Group Life and Hospitalization Public Officials & Employees' Liability 2,000,000 Accidential Death 10,000 Accidential Dismemberment 10;,000 Medical Expense 5,000 N-5