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1982 Annual Financial Reportgfi,ps s" CITY OF BANGER, TEXAS ANNUAL FINANCIAL REPORT YL'AR ENDED AUGUST 31, 1982 ELECTED CITY OFFICALS CITY COUNCIL Ralph B . Cole , riayor Benny Bridges, Alderman Carolyn Adkins, Alderman Freddy Inman, Alderman Danny Spindle, Alderman Harvey W. Thomas, Alderman APPOINTED OFFICIALS Lloyd Henderson, City Manager Mary Jo Stover, City Secretary and Tax Assessor -Collector a CITY OF SANGER, TEXAS TABLE OF CONTENTS Page Accountant's Report on Financial Statements and Supplemental Schedules A-1 FINANCIAL STATEMENTS Combined Combined Balance Sheet - All Funds B-1 Combined Schedule of Bonds Payable B-Z General Fund Balance Sheet Statement of Changes in Fund Balance Statement of Revenue - Estimated and Actual Statement of Expenditures and Encumbrances Compared With Authorizations Utility Fund c Balance Sheet Statement of Revenue And Expense Statement of Changes in Retained Earnings Tax And Warrant Interest And Sinlci Balance Sheet Statement of Cash Receipts and Disbursements Capital Projects T'unds Balance Sheet Statement of Changes in Fund Balances Balance Sheet Pavroll Fund Revenue Sharing Fund G'und Balance Sheet Analysis of Changes in Fund Balance Statement of Revenues - Estimated and Actual Summary Statement of Expenditures Compared With Authorizations G-1 CITY OF SANGER) TEXAS TABLE OF CONTENTS (CONTINUED) Page 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 1ltility Fund Schedule of Revenue - Estimated and Actual T1-1 Summary Schedule of Expenditures - Estimated and Actual M-2 Detail Schedule of Expenditures - Estimated and Actual M-3 STATISTICAL SECTION Property Tax Levies and Collections N-1 Utility Revenue Bonds - Principal and Interest Requirements N-2 Electric System Balance Sheet N-3 Utility Rates N-4 Insurance Coverage N-5 �; r, �" 623 FIRST STATE BANK BLDG. DENTON, TEXAS 70201 617/3b7.8721 Mayor and City Council.. City of Sanger, Texas s ��II�J��J�'t �`, (j'� i g "" :�)�' `� December 14, 1982 MEMBER; AMERICAN INSTI'PUTE CERTIFIED AUBLIC 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, 1982, listed in the foregoing table of contents. Except- as explained in the following paragraph, our examination was made in accordance w?_th generally accepted auditing standards and, accordingly, included such test of the accounting recerds and such other auditing procedures as cae considered necessary in the circumstances. We were unable to satisfy ourselves as to plant and general fixed assets reflected in th Assets, because the Ci.ty's accounting records The carrying value of such Utility Fund assets of the Utility Fund. the carrying value of electric e 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, 1982, 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 �oith generally accepted accounting principal, 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. �� Marton A. Wright, CPA MAW/dm CITY OF BANGER, TEXAS COMBINED BALANCE SHEET - ALL FUNDS AUGUST 31, 1981 and 1982 AssETs Cash Investments Accounts Receivable Taxes Receivable Interest Receivable Due From Other Funds Prepaid Expense Restricted Assets Fixed Assets (Net) Accumulated Deficit of Sanger Electric System Amount to be Provided for the Retirement of Bonds Total Assets LIABILITIES 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 1982 $ 103,210 145,378 166,349 21,157 2,421 9,486 735,678 1,830,999 75,456 155,000 $ 3,245,134 $ 26,409 179,735 23,750 27,015 42,554 155,000. 9,904 1,295,000 $ 1,759,367 RESERVES, FUND BALANCES AND SURPLUS Contingent Liabilities 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 $ 44 ,468 21,157' 122,578 146,972 195,945 453,304 501,343 1 , 485 , 767Y 1981 $ 108,744 30,615 1633714 21,308 1,443 2,551 3383994 1,678,114 74,788 10 ,000 $ 2,430,271 31,691 109,342 28,750 19,863 1,332 50,420 1,611 10,000 14,856 880,000 $ 1,147,865 $ 72,478 21,308 126,961 140,430 88,752 388,239 444,238 1.282,406 Total Liabilities, Reserves, Fund Balances & Surplus $ 3,245,134 $ 2,430,271 These financial statements and accompanying notes are subject to the accountant's opinion. B-1 CITY OF SANDER, TEXAS COMBINED SCHEDULE; OF BONDS PAYABLE AUGUST 31, 1982 Description General Obligation Bonds Series 1973 Series 1982 Utility Revenue Bonds Series 1969 Series 1973 Series 1976 Series 1977 Series 1982 Total Utility Revenue Bonds Totals Interest Rates 52% to 5 7/8% 52% to 7 ;% 4.9% to 6% 1.2 a 71% 12/1 5/15, 11/15 5/15, 11/15 5/15, 11/15 5/15, 11/15 5/15, 11/15 These financial statements and accompanying notes are subject Lo the accountant's opinion. B-2 Final. Bonds Issue Maturity _ Date Date Authorized Issued Retired Outstanding 1973 1983 $ 50,000 $ 50,000 $ 45,000 $ 5,000 1982 1987 1503000 150,000 150,000 1969 1985 150,000 1503000 1203000 30,000 1973 1993 295,000 295,000 55,000 240,000 1976 1995 305,000 305,000 40,000 265,000 1977 1996 3603000 360,000 50,000 310,000 1982 1997 450,000 450,000 4503000 $ 1,560,000 $ 13560,000 $ 265,000 , $ 11295,000 $ 760,000 $ 1,760,000 $ 310,000 $ 1,450,000 B-2 t1 CITY OF BANGER, TEXAS GENERAL FUND BALANCE SHEET AUGUST 31, 1981 and 1.982 ASSETS 1982 1981 Cash $ 26,555 $ 29,165 Investments 65,295 25,252 Due From Other Funds: Payroll -0- 13125 Taxes Receivable - Delinquent 21,157 21,308 Interest Receivable 2,273 -0- Prepaid Insurance 2,896 -0- Total Assets $ 118,176 $ 76,850 LIABILITIES RESERVES AND FUND BALANCE Reserve For Uncollected Taxes - Delinquent Fund Balance Total Liabilities, Reserves and Fund Balance $ 21,157 97.019 $ 118,176 $ 21,308 55.542 $ 76,850 These Linancial 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., 1981 and 1982 1982 1981 Balance, Beginning of Year $ 55,542 $ 32,264 Prior Year Adjustment to Fund Balance (1)126) -0- 54,416 32,264 Revenues 340,271 286,112 Expenditures (297)668) (262,834) Excess of Revenues & Fxpenditures 42,603 23,278 Balance, End of Year $ 97,019 $ 55,542 These financial statements and accompanying notes are subject to the accountant's opinion. C-2 CITY OF S�r TEXAS FIE NI RAL FUND STATEMENT OF REVENUE - ESTIMATED AND ACTUAL (Rounded to the nearest dollar) FOR THE YEAR ENDED AUGUST 31, 1982 (Over) Final Under Budget Actual Budget General Property Taxes: Current Year's Levy $ 99,068 Prior Years' Levy 8,076 Penalty and Interest 3,883 Total. $ 108)000 $ 111,027 $ (3)027) City Sales Tax $ 35,000 $ 42,553 $ (7,553) Charges for Services: Sanitation Service $ 67,301 Use of Equipment 452 Total $ 63,000 $ 67,753 $ (4)753) Appropriation from Utility Fund $ -0- $ 73,122 $ (73,122) Other Revenues: Fines $ 7,414 Franchise Tax 8)V14 Occupation Tax and Permits 493 Other Fees and Permits 4,411 Sale of Equipment 2,960 Tax Certificates 285 Interest 83085 Miscellaneous, Insurance 143023 Total $ 28,000 $ 45,815 $ (17)815) Total Revenues $ 234,000 $ 340,270 $(106)270) These financial statements and accompanying notes are subject to the accountant's opinion. C-3 CITY OF BANGER, TEXAS GENERAL FUND STATEMENT OF E?�PENDITURES AND ENCUMBRANCES COMPARED [dITll AUTI-IORIZATIONS (Rounded to the Nearest Dollar) FOR TUF. YI;�R END1D AUCIJST 31. , 1.982 (Over) Final Under Budget Actual Budget Administrative $ 82,353 $ 93,960 $ (11,607) Fire Department 16,150 11,745 4,405 Police Department 83,768 75,187 8,581 Street Department 64,125 35,43E 28,694 Park Department 3,650 3,267 383 Appropriations to Other Funds 5,650 6,720 (1,070) Sanitation Department 65,571 71,358 (5,787) Total $ 321,267 $ 297,668 $ 23,599 These financial statements and accompanying notes are subject to tine accountant's opinion. C-4 r CITY OF SANGER, TEXAS UTILITY FUND BALANCE SHEET AUGUST 31, 1982 ASSETS Current Assets: Cash $ 53,702 Investments 27,146 Accounts Receivable Less Allowance for Bad Debt 166,349 Prepaid Expense 5,710 Interest Receivable 89 Total Current Assets $ 25,996 Restricted Assets: Revenue Bond Debt Service: Cash 1,346 Investment 147,268 Cash - Emergency Fund 979 Revenue Bond Contraction: Cash 20,734 Investments 538,734 Interest Receivable 4,720 Customer Deposit - Brazos 21,897 Total Restricted Assets 735,678 Fixed Assets: Electric Plant 1,166,105 Water System 464,144 Sewer System 520,615 Furniture and Equipment 59,088 Easement 1,500 Work in Progress 35,304 Less: Accumulated Depreciaiton (891)158) Total Fixed Assets 1,355,598 Accumulated Deficit of Sanger Electric System, Reimbursable by Brazos Electric Power Corporation 75,456 Total Assets $ 2,419,728 These financial statements and accompanying notes are subject to the accountant's opinion, D-1 n LIABILITIES Current Liabilities (Payable from Current Assets): Account Payable (Purchase Power & Operating & Maintenance) $ 1793735 Advances Payable to Brazos 23,750 Consumer Deposits 42,554 Certificate of Obligation 26,409 Total $ 272,448 Current Liabilities (Payable from Restricted Assets): Accrued Revenue Bond Interest Payable 4 27,015 Revenue Bonds Payable - Current Portion 35,000 Total 62,015 Total Current- Liabilities 334,463 Other Liabilities: Revenue Bonds Payable 1,295,000 Less Current Portion (35,000) Note Payable - First National Bank of Sanger 9,904 Total Other Liabilities 1,269,904 Contingent Liability - Due to Brazos for Capital Improvements 44,468 Contributions: Customers 70,062 Others (Grant) 76,910 Total Contributions 146,972 Retained Earnings and Fund Balance 623,921 Total Liabilities $ 23419,728 D-1 CITY OF BANGER, TEXAS UTILITY FUND STATEMENT OF REVENUE AND EXPENSE FOR THE YEARS ENDED AUGUST 31, 1983. and 1982 Operating Revenue: Electricity Sales Water Sales Sewer Charges Sale of Material Miscellaneous Total Operating Revenues Operating Revenue Deductions; Sanger Electric System Water Department Less Utilities Exp. & Cap. Outlays Sewer Department Less Utilities Exp. & Cap. Outlays Total Operating Revenue Deductions Operating Revenue Before Depreciaiton Depreciaiton Operating Revenue Non -Operating Revenue (Expenses) Excess of Sanger Electric System Revenue Over Expenses - Allocable to Brazos Interest Earnings Non -Operating Expense Interest Expense & Fees on P.evenue Bonds Net Revenue 1982 1981 $ 1,144,492 $ 920,619 138,605 140,207 453929 40,672 5,364 4,994 3,176 3,819 $ 1,337,566 $ 1,110,311 1,019,079 809,762 66,774 65,144 33,899 _ 27,157 119,752 902,063 217,814 208,248 57.545 47,929 160,269 160,319 (2,186) (668) 34,333 35,536 192,, 416 195187 (61,197) (58,374) 1312219 136,813 These financial statements and accompanying notes are subject to the accountant's opinion, D-2 CITY OF SANGER, TEXAS UTILITY FUND STATEMENT OF CHANGES IN RETAINED EARNINGS AND FUND BALANCE FOR THE YEAR ENDED AUGUST 31, 1982 Balance Beginning of Year Add: Net Revenue Total Balance and Additions Deduct: Contribution to Sanger Electric Appropriation to General Fund Balance, End of Year Retained Earnings $ 4443238 135,602 579,840 5,375 73,122 $ 501,343 I3ond Deb t Service $ 126,961 (4,383) 122,578 Total $ 571,199 131,219 702,418 5,375 73,122 $ 122,578 $ 623,921 These financial statements and accompanying notes are subject to the accountant's opinion. D-3 Cash Investment Interest Receivable Total Assets Fund Balance CITY OF SANGER, TEXAS TAX AND WARRANT INTEREST AND SINKING FUND BALANCE SHEET AUGUST 31, 1981 and 1982 ASSETS LIABILITIES AND FUND BALANCE 1982 $ 14,968 52,925 59 $ 67,952 $ 67�952 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS FOR THE YEAR ENDED AUGUST 31, 1981 and 1982 1982 1981 $ 5,348 $ 5,348 $ 5,348 1981 Receipts: Bond Principal Interest 2$58 342 Appropriation from General Fund 12,100 _ 6,720 Total Receipts $ 164,658 $ 7,062 Disbursements: Landfill Expenditures $ 963416 Bond Retirements 53000 5,000 Interest Payments 538 806 Agent's Fees/Bank Charges 100 100 Total Disbursements 102,054 53906 Excess of Receipts Over Disbursements 62,604 1,156 Cash Balance, Beginning of Year 5,348 4,192 Cash Balance, End of Year $ 67,95'L $ 5,348 These financial statements and accompanying notes are subject to the accountant"s opinion. E-1 CITY OF SANGER, TEXAS CAPITAL PROJECTS FUNDq BALANCE SHEET AUGUST 31, 1982 ASSETS Muncipal Building Total Assets FUND BALANCE Fund Balance 1973 Geuer.al Obligations Imnrovements $ 22,097 $ 22,097 These financial statements and accompanying notes are subject to the accountant's opinion. F-1 CITY OF BANGER, TEXAS CAPITAL PROJECTS FUNDS STATEMENT OF RECEIPTS AND DISBURSEMENTS FOR THE YEAR ENDED AUGUST 31, 1982 Initial Project Authorization Fund Balance, Beginning of Year Add: Muncipal Building Deduct: Construction Project Fund Balances, End of Year Total All Funds $ 50,000 $ 22,097 22,097 (22,097) These financial statements and accompanying notes are subject to the accountant's opinion. F-2 Cash Prepaid Insurance Total Assets CITY OF BANGER, TEXAS Pl1YP.OL FUND BALANCE SHEET At1GUST 31, 198J. and 1982 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 1982 1981 $ 435 $ 2,930 880 $ 1,315 $ 2,930 $ $ 1,478 321 1,014 318 1,315 (201) $ 1,315 $ 2,930 These financial statements and accompanying notes are subject to the accountant's opinion. G-i Cash Investment - Savings Total Assets CITY OF SANGER, TEXAS P.EVENUE SHARING FUND BALANCE SHEET AUGUST 31, 1981 and 1982 ASSETS LIABILITIES AND FUND BALANCE 1982 $ 7,550 12 $ 7,562 Fund Balance $ 7,562 ANALYSIS OF CHANGES IN FUND P,ALANCL" FOR THE YEARS ENDED AUGUST 31, 1981 and 1982 Balance, Beginning of Year $ 5,967 Add: Excess of Revenues Over (Under) Expenditures Revenue 9>908 Expenditures (8)313) Total 1,595 Balance, End of Year $ 7,562 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 N CITY OF SANGER, TEXAS REVENUE SHARING FUND STATEMENT OF REVENUE - ESTIMATED AND ACTUAL (Rounded to the Nearest Dollar) FOR THE YEAR ENDED AUGUST 31, 1982 (Over) Final Under Budget Actual Budget Eleventh Entitlement Period $ 93500 $ 9,884 $ (384) Interest Income 24 (24) Total $ 93500 $ 9,908 $ (408) SUMMARY STATEMENT OF EXPENDITURES COMPARED WITH AUTHORIZATIONS FOR THE YEAR ENDED AUGUST 31, 1982 (Over) Final Under Budget Actual Budget Capital Expenditures: Environmental Protection $ 2,850 $ 2,250 $ 600 Public Safety 6,650 6,063 587 Total Capital Expenditures $ 9,500 $ 8,313 $ 1,187 These financial statements and accompanying notes are subject to the accountant's opinion. CITY OF BANGER, 1'114XAS STATEMENT OF GENERAL FUNDED DEBT AUGUST 31, 1981 and 1982 ASSETS Amounts to be provided for Retirement of Debt Total Assets LIABILITIES AND FUND BALANCE Warrants Payable General Obligation Bonds Payable Total Liabilities and Fund Balance 1982 1981 $ 155,000 $ 10,000 $ 155,000 $ 10)000 155,000 10,000 $ 1553000 $ 103000 These financial statements and accompanying notes are subject to the accountant's opinion. I-1 c CITY OF SANGER, TEXAS STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY SOURCES (Rounded to the Nearest Dollar) FOR THE YEAR ENDED AUGUST 31, 1982 General Fixed Assets Beginning of Year Deletions Additions Expenditures from General Fund General Fixed Assets End of Year Improvements Machinery Other Than and Total Land Building Building Equipment $ 388,239 $ 8,683 $ 95,476 $ 153,550 $ 130,530 (123970) (12)970) 78,035 50,000 9,965 $ 453,304 $ 58,683 $ 95,476 $ 163,515 18,070 $ 135,630 These financial statements and accompanying notes are subject to the accountant's opinion. J-1 CITY OF BANGER, TEXAS NOTES TO THE FINANCIAL STATEMENTS AUGUST 31, 1982 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 utility and enterprise operations are reflected on an accrual basis. Investments Investments are stated at cost. Fixed Assets and Depreciation Fixed assets are recorded on the basis of original cost. Fixed assets, except for those recorded in the Utility Fund, are presented as General Fixed Assets with no depreciation recorded. Depreciation on fixed assets of the Utility Fund has been determined by the straight-line method. Accounting for Sanger Electric System � The records of Sanger Electric System have been maintained as if the system were a separate entity (See Note 2). The net assets and the results of operations of the electric system are included with other utility operations in these financial statements. All intrafund accounts and transactions have been eliminated. 2. BANGER ELECTRIC SYSTEM The City has entered into an agreement, dated January 1, 1971 and amended July 11, 1973 with Brazos Electric Power Cooperative, Inc., (Brazos) whereby Brazos has assumed full responsibility for -, CITY OF BANGER, TEXAS NOTES TO TILE FINANCIAL STATEMENTS (Continued) AUGUST 31, 1982 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 6% per annum; and, �+. 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 gross revenue from sales of electrical power and energy by the City's system reduced by the corresponding annual cost of electrical power and energy purchased by and for such system, such reduction for cost of purchased power to be made prior to application of the percentage as herein set out. Brazos Electric Power Cooperative, Inc.- has advanced the System $50,000. The advance is unsecured, bears a current interest rate of 9%, and has no established due date. 3. FIRST LIEN AND PLEDGE OF THE NET REVENUES OF THE tITILITX BOARD The Utility Revenue Bonds are secured by a first lien and pledge on the net revenues of the Utility Fund. IC- 2 CITY OF SANGER, TEXAS NOTES TO THE FINANCIAL STATEMENTS (Continued) AUGUST 31, 1982 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 in the event there is not sufficient funds available in the required interest and sinking funds. For the year ended August 31, 1982 the required interest and sinking funds were adequately maintained and the required amounts of reserve and emergency funds . have been established 5. CONTINGENT LIABILITY The $75,456 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. 6. 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 $363972.72. 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. 7. SECURITY BOND The First National Banlc of Sanger operates as the depository bank for the City of Sanger. The First National Banlc of Sanger pledged a bond totaling $431,181 as security for the City's cash accounts. 8. ADJUSTMENT TO FUNDS The $1,125 adjustment to the General Fund Fund Balance is for adjustments of items due from Payroll fund. These items cannot be reimbursed thus this correction was made. K-3 CITY OF SANGER, TEXAS GENERAL FUND DETAIL SCHEDULE OF EXPENDITURES AND ENCUMBRANCES COMPARED WITH AUTHORTZATIONS FOR THE YEAR ENDED AUGUST 31, 1982 (Over) Final Under Budget Actual Budget Administrative: Salaries and Wages $ 47,844 $ 473564 $ 280 Supplies 2,050 1,913 137 Maintenance - Equipment 2,050 830 1,220 Telephone 1,503 Insurance 2,620 Legal and Accounting 163242 Advertising 53 Utilities 2,043 City Council Fees and Expenses 3,512 Tax Assessing and Collecting Expense 2,846 Contract Labor 3,534 Election Expense 365 Dues and Subscriptions 1,371 Rents 1,859 Other 2,919 Travel & Fees 728 $ 29,209 $ 39,595 $ (10)386) Capital Outlay 1,200 4,058 (2 X ) $ 82,353 $ 93,960 $ (11)607). Fire Department: Salaries and Wages $ 720 $ 1,340 $ (620) Fire Calls 520 (520) Maintenance 4,700 2,308 2,392 Other Charges/Supplies 8,130 6,500 1,630 Capital Outlays 2,600 1,077 1,523 $ 163150 $ 11,745 $ 4,405 L-1 CITY DETAIL SCHEDULE OF COMPARE OF SANDER, TEXAS GENERAL FUND EXPENDITURES AND ENCUMBRANCES D WITH AUTHORIZATIONS (Continued) FOR TILE YEA12 ENDED AUGUST 31, 1982 (Over) Final Under I3u]get Actual Budget Sanitation Department: Salaries and Wages $ 26,391 $ 23,707 $ 2,684 Supplies 2,875 5,738 (2)863) Maintenance -Landfill 123430 4,273 8,157 Maintenance -Equipment 8,500 63914 1,586 Insurance 2,167 Contract Labor 8,505 Other Charges 4,439 _ 10,575 15,111 (43536) Capital Outlays I 4,800 15,615 (10)815) $ 65,571 $ 71,358 $ (5,787) Park Department: Supplies $ 600 $ 950 $ (350) Maintenance 1,450 943 507 Other Charges 600 600 Capital Outlays _ 1,000 1a374 (374) $ 3,650 $ 3,267 $ 383 Appropriations to Other Funds General Obligation, Interest And Sinking Fund, Planning and Zoning $ 5,650 $ 6,720 $ (1)070) $ 5,650 $ 6,720 $ (1,070) F > aft <d� & k t'tlf�I �t�( ())I �"Oi S L-2 CITY OF SANGER, TEXAS GENERAL FUND DETAIL SCHEDULE OF EXPENDITURES AND ENCUMBRANCES COMPARED WITH AUTHORIZATIONS (Continued) FOR THE YEAR ENDED AUGUST 31, 1982 Police Department: Salaries Supplies Maintenance Telephone Insurance Training Utilities Court Cost Other Charges Capital Outlays Street Department:' Salaries and Wages Supplies Maintenance -Streets Maintenance -Equipment Insurance Utilities Contract Labor and Hauling Capital Outlays Final Budget $ 65,018 1,150 6,800 8,500 2,000 83,468 575 1,400 5,450 21,700 35,000 $ 64,125 Actual $ 60,846 1,266 5,473 1,820 1,185 281 781 900 572 5,539 2,063 $ 798 4,302 6,418 1,884 839 13,187 671 14,697 7,332 $ 35,431 (Over) Under re t $ 4,172 (116) 1,327 2,961 (63) $ 8,281 $ (798) (3,727) (5,018 3,566 7,003 27,668 L-3 Electricity Sales CITY OF SANGER, TEXAS UTILITY FUND SCHEDULE OF REVENUE - ESTIMATED AND ACTUAL (Rounded to the Nearest Dollar) FOR THE YEAR ENDED AUGUST 31, 1982 Final Budget Actual $ 144,000-$ 155,246 (Over) Under Budget Water Sales $ 145,000 $ 138,605 $ 6,395 Sewer Charges 40,000 45,929 (5)929) Sales of Material 43200 5,364 (1)164) Miscellaneous 2,500 8,457 (5)957) Interest 15,000 34,333 (19,333) $ 206,700 $ 232,688 $ (25,988) �� The City's budget included only an estimate of the amount of the Electric Power Cooperative, Inc.'s guarantee. 370s M-1 CITY OF SANCER, TEXAS UTILITY FUND SUMMARY SCHEDULE OF EXPENDITURES - ESTIMATED AND ACTUAL FOR THE YEAR ENDED AUGUST 31, 1982 Final Budget Actual (Over) Under Budget Sanger Electric System $ 1,019,079 Water Department $ 1013778 $ 1373638 $ (353860) Sewer Department 39,842 45,141 (53299) Debt Service 92,418 97,480 (5)062) $ 2343038 $ 280,259 $ (461221) Capital Improvements - Sanger Electric $ 90,260 Contribution - Sanger Electric $ 5,375 DETAIL SCHEDULE OF EXPENDITURES - ESTIMATEll AND ACTUAL FOR THE YEAR ENDED AUGUST 31, 1982 (Over) Final Under Budget Actual Budget Sanger Electric System^ Cost of Purchased Power $ 898,107 Labor 70,797 Other 50,175 $ 1,019,079 Water Department. Salaries and Wages $ 415063 $ 42,022 $ (959) Supplies 2,325 2,044 281 Repairs and Maintenance 25,375 9,920 15,455 Other Charges 24,790 31,399 (6)609) Capital Outlays 83225 _ 52,253 (44,028) $ 1.01,778 $ 137,638 $ (353860) The City's budget included only an estimate of the amount of Brazos Electric Power Cooperative, Inc.'s Guarantee. M-2 CITY OF SANGER, TEXAS UTILITY FUND DETAIL SCHEDULE OF EXPENDITURES - ESTIMATED AND ACTUAL (Continued) FOR THE YEAR ENDED AUGUST 31, 1982 Sewer Department: Salaries and Wages Supplies Repairs and Maintenance Other Charges Capital Outlays Debt Service: Revenue Bonds Time Warrant (Computer) Certificate of Obligation Capital Improvements - Sanger Electric Contribution to Sanger Electric Final Budget $ 16,992 3,475 6,500 9,875 3.000 $ 39,842 $ 86,218 6,200 $ 92,418 Actual $ 16,921 1,393 9,756 15,290 _ 1,781 $ 45,141 $ 86,343 5,856 54281 $ 97,480 $ 90,260 $ 5,375 (Over) tinder Budget $ 71 2,082 (3)256) (5)415) 1,219 $ (5)299) $ (125) 344 (5,281) $ (5,062) M-3 CITY OF BANGER, TEXAS PROPERTY TAX LEVIES AND COLLECTIONS YEAR ENDED AUGUST 31, 1982 Tax Assessed Tax Current Total Year Value - Levy 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 33,067 92.25% 36,040 100.54% 1976 6,478,717 38,873 35,643 91,69% 39,244 100.96% 1977 6,782,337 40,694 37,601 92.40% 39,885 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% 1981 21,378,529 106,870 99,068 92.70% 8,076 100,30% Tax Rate - 1968 - 1970 $ .90 1971 - 1977 ,60 1978 - 1980 ,70 1981. . 50 N-1 CITY Ul SANGER, TEXAS PRINCIPAL AND INTEREST REQUIREMENTS AUGUST 31, 1982 UTILITY REVENUE BONDS Year Ended August 31 Principal Interest Total 1983 $ 55,000 $ 101,362 $ 156,362 1984 55,000 101,730 156,730 1985 60,000 97,368 157,368 1986 653000 923731 157,731 1987 703000 87,907 157,907 1988 75,000 82,534 157,534 1989 80,000 76,835 156,835 1990 85,000 70,823 155,823 1991 90,000 64,152 154,152 1992 100,000 57,143 1573143 1993 1053000 49,115 154,115 1994 1153000 41,165 156,165 1995 120,000 31,940 151,940 1996 135,000 21,782 156,782 1997 85,000 103838 953838 $ 1,295,000 $ 9872425 $ 2,2823425 GENERAL OBLIGATION BONDS 1983 $ 25,000 $ 16,769 $ 41,769 1984 25,000 14,300 39,300 1985 30,000 11,550 41,550 1986 35,000 8,250 43,250 1987 40,000 43400 44,400 $ 155,000 $ 55,269 $ 210,269 N-2 CITY Or SANGER, TEXAS ELECTRIC SYSTEM (OPERATED BY BRAZOS ELECTRIC POWER COOPERATIVE, INC.) BALANCE SHEET AUGUST 31, 1982 ASSETS Current Assets; Cash $ 53,334 Accounts Receivable - Customers 137,742 Contributions Receivable for Construction 24,076 Prepaid Expense - Sales Tax 1,997 Total Current Assets Restricted Assets: Cash - Consumer Deposits Utility Plant: Electric Plant in Service 1,166,104 Construction in Progress 35,304 Less: Accumulated Depreciation (429)970) Total Utility Plant Total Assets LIABILITIES Current Liabilities: $ 217,149 21,897 771,438 $ 1,010,484 Accounts Payable - Contract Guarantee $ 12,204 Accounts Payable - Purchased Power & Operating 179,735 Total Current Liabilities $ 191>939 Other Liabili.t-ies: Consumer Deposits 21,897 Advance from Brazos Electric Power Coop,, Inc. 23,750 Due to Brazos Electric for Capital Improvement — 44,468 Total Other Liabilities Contributions City of Sanger, Texas Retained Earnings (Deficit) Total Liabilities 90,115 903,775 (175,345) $ 1,010,484 I� cl rY or SANGLrt, LLxnS UTILITY RATES AUGUST 31, 1982 Water Rates First 1,000 gallons (mi.nimum) $ 8.00 Per 1,000 gallons thereafter 1.00 Sanitation Rates Residential - Flat Rate $ 4.50 Commerical - Flat Rate 5.50 Sewer Rates Residential - First 1,000 gallons p $ 4.00 Per 1,000 gallons thereafter .40 Commercial - First 1,000 gallons $ 7.00 Per 1,000 gallons thereafter .40 Number of Connections (August 31, 1982) Water 15087 Sewer 1,031 Electric 1,193 Water Usage 76,765,900 gallons N-4