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1976 Annual Financial Reporty� i CITY OF SANGER, TEXAS ANNUAL FINANCIAL REPORT Year Ended August 31, 1976 SMITH, BRINES AND SOLANA Certified Public Accountants Meadows Building Dallas, Texas CITY OF SANGER, TEXAS ANNUAL FINANCIAL REPORT Year Ended August 31, 1976 TABLE OF CONTENTS pages Report Letter a-c Auditors' Opinion c Financial Statements and Schedules: Balance Sheet n All Funds 1-2 General Fund: Balance Sheet 3 Statement of Revenues and Expense 4 Departmental Expenses 5-7 Statement of Receipts and Disbursements 8 Utility Fund: Balance Sheet 9-10 Statement of Revenue and Expense 11 Schedule of Operating Expenses 12 Statements of Receipts and Disbursements: Utility Fund 13 Utility Bond Construction Fund 14 Revenue Bond Debt Service Funds 15 Tax and Warrant Interest and Sinking Fund: Balance Sheet 16 Statement of Receipts and Disbursements 16 General Obligation Bond Fund: Balance Sheet 17 Statement of Receipts and Disbursements 17 Revenue Sharing Fund 18 Payroll Fund 19 General Fixed Assets 20 Schedule of Bonded Debt 21®22 Insurance in Force 23=24 Utility Rates and Statistics 25 Ad Valorem Tax Information 26 Utility Revenues a Ten Year Comparison 26 Principal and Interest Requirements: General Obligation Bonds and Warrants 27 Utility System Revenue Bonds 28 SMITH, BAINES AND SOLANA CERTIFIED PUBLIC ACCOUNTANTS Member of American Institute of Certified Public Accountants MEADOWS BUILDING DALLAS, TEXAS 75206 R. B. SMITH (1947-1974) 2i4-369-9216 J. D. BAINES JOHN D. SOLANA To the Mayor and City Council City of Sanger Sanger, Texas Gentlemen: We have examined the balance sheets of the various funds of the City of Sanger, Texas, at August 31, 1976, and the related statements of revenues, expenditures and fund balance for the year then ended. Our examination was made in accordance with generally accepted auditing standards and accordingly included .such tests of the accounting records and such ocher auditing procedures as we considered necessary in the circumstances. Following are specific comments relative to the fiscal year's financial trans- actions and other data considered appropriate: 1. Electric Sytem Operations On January 1, 1971, the City entered into an operating agreement with Brazos Electric lover Cooperative, whereby the Cooperative assumes opera- tions and maintenance of the City's electric system. This agreement was amended effective February 24, 1973, Under the terms of the amended agree ment, all revenues from the operation of the City's electric system accrue to the City. The Cooperative further guarantees that the City shall receive an a minimum annual income from the operation of the City's system and amount of money equal to the greater amount derived from the two alternative methods of the calculation set out as follows* Method A 1. 5°ro of gross electric revenues; and 2. Equivalent of ad valorem taxes; and, 3. Interest derived from an investment of $450, 000 at a rate of 6°/o per annum; and, 4. An amount equal �o the annual interest and principal requirements on the City's Revenue Bonds, Series 1969 (exclusive of $61, 000 refunding portion). Method B An amount equal to 60 o of the annual gross electric revenue reduced by the annual cost of electrical power and energy purchased by and for the City's electric system. During the year the City received a total of $86, 585. 57 in cash receipts computed under Method B above. Under terms of the contract during the period January 114 1971, through February 24, 1973, the Cooperative expended funds for all electric system capital improvements, subject to reimbursement from the City under certain termination provisions. Since such improvements are contingently refundable, we have established the account ''Capital Expenditures - Contingently Refundable'' in the amount of $137, 243. 12,, representing the het amount due for such capital expenditures made through February 24, 1973. Effective February 24, 1973, the amended agreement provides for the City's responsibility for capital expenditures currently. Such amounts are billed by the Cooperative and paid by the City on a monthly basis out of funds in the Utility Bond Construction Fund. 2. Financial Reportin Except for the accrual of Water and Sewer income, the financial state- ments are prepared under the cash basis of accounting for all funds. 3. Refundable Contract -Sewer Line A�reernent On January 17, 1972, the City entered into a refundable agreement with Skelly Oil Company for the construction of a sanitary sewer line, The City received $25, 000 for construction of the line and funded this amount in a separate account. On completion of the line, amounts are re- fundable based on use by other customers of the line, with expiration of the agreement in seven years. Construction on the sewer line was comb pleted during the 1973/74 fiscal year. 4. Utility System Revenue Bonds The ordinance authorizing the issuance of these bonds requires (among other things) monthly transfers to the Interest and Sinking Funds to provide an amount sufficient to pay debt service maturities as they become due. Additionally the 1969 issue provides for monthly payments into a Reserve Fund of $267 until this fund contains $16, 000 plus $100 per month into azemergency fund until $10, 000 is accumulated. (b) The 1973 and 1976 Revenue Bond ordinances increased Reserve Fund requirements to $544, 00 per month, to be deposited until $60, 300 has been accumulated in the fund. As compared with requirements at August 31, 1976, the balances in these accounts are follows: Actual Cash & Required Investments Excess or _ 8_-31-76 8-31-76 Deficiency) Interest and Sinking Fund $+18, 184. 00 $ 25, 711. 86 $ 7, 527. 86 Reserve Fund 27, 479. 00 31, 789. 48 4, 310. 48 Emergency Fund 8, 100, p0 9, 243, 45 11143945 Total $ 53, 763. 00 $ 66, 744. 79 $ 12, 981. 79 5. Auditor's_Opinion In our opinion, subject to our comments, the aforementioned financial statements present fairly the financial position of the City of Sanger, Texas, at August 31, 1976, and the results of its operations for the year then ended, in accordance with generally accepted accounting principles applicable to government entities applied on a basis consistent with the previous year. Smith, Baines and Solana Certified Public Accountants October 4, 1976 (c) C11Y OF SANGER, TEXAS COMBINED BALANCE SHEET -ALL FUNDS August 31, 1976 Cash -Operating Cash -Restricted Fund Investments -Operating Investments -Restricted Fund A_d Valorem Taxes Receivable Utility Accounts Receivable (Net) Interfund Accounts Fixed Assets Allowance for Depreciation Net Fixed Assets Amount to be Provided for General Funded Debt General Utility Fund Fund $ 30 201. 57 $ 7, 208. 11 66, 854. 59 102556. 58 37, 070. 82 2531010. 73 15, 629. 17 11, 889. 36 849. 78 _ _ _ 29 416. 90 $11455, 672 3'7 499, 859. 46 $ 955, 812. 91 TOTAL ASSETS $ 30, 237. 10 $l, 334, 263. 42 VIABILITIES, RESERVES AND FUND.. RETAINED EARNINGS Bonds Payable $ $ 6759000. 00 Warrants Payable 4, 000. 00 Other Payables 47. 50 Refundable Contract Sewer Line Customers' Deposits Reserve for Del. Taxes (Contra) 15, 629. 17 Contingently , Refundable�Capital Expenditure -Brazos Agreement U. S. Government Grant Contrib+ation in Aid of Construction Intier•fund Accounts Reserve for Debt Requirements Payroll Deductions Investment in Fixed Assets Retained Earnings Fund Balance 14, 560.43 TOTAL LIABILITIES, RESERVES AND FUND BALANCE/RETAINED EARNINGS $ 30, 237. 10 25, 000. 00 11, 981.41 137, 243. 12 76, 910. 00 28, 689. 28 66, 744. 79 308, 694. 82 $1, 334, 263. 42 Tax and Warrant Int. & Skg. Fd. 2 BALANCE/ 2, 108. 04 General Revenue General General Oblig, Bond Sharing Payroll Fixed Funded Constr. Fd. Fund Fund Assets Debt $ $ 3, 020. 09 $ 31767. 53 $ $ 523. 68 l 1, 507. 63 38, 659. 16 $246, 660. 99 _p_ $246, 660. 99 35. 000. 00 $ 39, 182. 84 $ 14, 527. 72 $ 3, 767. 53 $246, 66o. 99 $ 35, 000. 00 1, 820. 83 37, 362. O1 14, 527. 72 1, 445. 85 2, 321. 68 E� 246, 660. 99 $ 35, 000. 00 $ 39, 182. 84 $ 14, 527. 72 $ 3, 767. 53 $246, 660. 99 $ 35, 000. 00 CITY OF SANGER, TEXAS GENERAL FUND BALANCE SHEET August 31, 1976 CASH AND RECEIVABLES Cash in Bank -General Account Cash in Bank -Street Account Certificates of Deposit -Street Account Petty Cash Ad Valorem Taxes Receivable INTERFUND ACCOUNTS Due from Payroll Fund TOTAL ASSETS LIABILITIES, LIABILITIES State Tax on Fines Payable RESERVE S RESERVE FOR DELINQUENT TAXES (Contra) $ 721, 11 2,455a46 10, 556> 58 25, 00 159 629. 17 $ 29, 387. 32 $ 30, 237. 10 AND FUND B A L A N C E FUND BALANCE Balance, September 1, 1975 Add: Revenues (Page 4) $101, 957. 83 Utility Fund Transfers 50, 727, 15 Total Deduct: Expenditures (Page 4) Balance, August 31, 1976 $ 15, 9890 03 152, 684. 98 $16809 674, O1 1549 113a 58 TOTAL LIABILITIES, RESERVES AND FUND BALANCE 15, 6290 17 3 CITY OF SANGER. TEXAS GENERAL FUND STATEMENT OF REVENUE AND EXPENSE Year Ended August 31, 1976 REVENUES Ad Valorem Taxes -Current 1975 Roll Ad Valorem Taxes -Prior Rolls Ad Valorem Taxes -Penalty and Interest Sales Tax Fines Franchise Tax Occupation Tax and Permits Other Fees and Permits Rent®Post Office Tax Certificates Mowing Street Paving Sanitation Service Use of Equipment Miscellaneous Income Interest Income Total Revenues EXPENSE ®Administrative Fire Department Police Department Street Department Sanitation Department Park Department Transfer to General Obligation Inta &Skgo Fund EXCESS OF EXPENSES OVER REVENUES $ 33, 0670 26 2,9972o77 1, 058. 11 $ 37, 098a 14 17, 686, 45 2, 680e 00 3,738o56 247, 00 1, 6360 15 1, 840o 92 264, 00 270o 00 1, 984. 55 319668e 50 263* 00 2, 055* 99 524o 57 $101, 9570 83 $ 34, 9580 69 4, 723, 74 33, 9260 04 349091m 99 32, 6260 76 1, 006, 36 129780o 00 1549113, 58 G� CITY OF SANGER, TEXAS GENERAL FUND DEPARTMENTAL EXPENSE Year Ended August 31, 1976 ADMINISTRAT IV E Salaries and Wages: $ 20, 572. 95 Salaries Social Security Expense 1, 151. 20 $ 21, 724. 15 Supplies 1, 368.68 Maintenance�Structures 56. 69 Maintenance = Equipment 564. 70 Miscellaneous Services: Telephone $ 723.66 Insurance 348, 75 Legal and Accounting 2, 2990 27 Advertising 626. 59 Utilities 699a 81 City Council Fees and Expense 2, 275. 43 Tax Assessing and Collecting Expense 464. 14 Contract Labor 580. 00 Election Expense 450, 64 Dues and Subscriptions 371. 00 Rents 458. 96 Other Administrative Expenses 1, 896. 22 11, 194. 47 Capital Outlay: Furniture and Fixtures 50. 00 Total Administrative $ 3409958. 69 FIRE DEPARTMENT Salaries and Wages $ 480. 00 Supplies 410. 13 Maintenance®Equipment 453, 40 Miscellaneous Services: Telephone $ 597.76 Insurance 992< 85 Other Fire Department Expense 865, 60 29456. 21 Capital Outlay: Equipment 924. 00 Total Fire Department $ 4,723o74 CITY OF SANGER, TEXAS GENERAL FUND DEPARTMENTAL EXPENSES Year Ended August 31, 1976 POLICE DEPARTMENT Salaries and Wages; Salaries Social Security Supplie s Maintenanc e _ Equipment Miscellaneous Services: Telephone Insurance Corporation Court Expense Animal Disposal .Contract Labor Other Police Deparmtne Expense Court Costs Capital Outlay: Radios Total Police Department STREET DEPARTMENT Salaries and Wages: Salaries Social Security Expense Supplies Maintenance Streets Maintenance o E quipment Miscellaneous Services: Insurance Utilities Contract Labor and Hauling Other Street Deparment Expense Capital Outlay: Street Improvements Equipment Total Street Department $ 22, 3890 45 19 309e 91. $ 8400 96 1, 1880 85 1, 2000 00 471, 27 896, 00 172e 94 302. 49 $ 3, 260a 23 1900 71 $ 1, 127m 86 6, 6720 65 785e 20 720 39 $ 23, 6990 36 450, 12 2, 424, 61 5, 0720 51 $ 3, 4500 94 6120 33 971, 07 1, 5990 14 8, 658, 10 0 CITY OF SANGER, TEXAS GENERAL FUND DEPARTMENTAL EXPENSES Year Ended August 31, 1976 SANITATION DEPARTMENT Salaries and Wages: $ 14, 388a 48 Salaries Social Security Expense 19 2890 14 $ 150677, 62 Supplies 19476, 44 Maintenance = Dump Grounds 10, 467, 20 Maintenanc e ® Equipment 1, 6780 51 Miscellaneous Services: Insurance $ 1, 944e 86 Contract Labor -Collection 1,9360o75 Other Sanitation Department Expense 21a 38 3,3z6.99 Total Sanitation Department $ 32, 626, 76 PARK DEPARTMENT Salaries and Wages: Salaries $ 58e 05 Social Security Expense 30 39 $ 610 44 Supplies 540 95 Miscellaneous Service: Insurance $ 21a 86 Contract Labor 3380 00 Other Park Department Expense 420 48 4020 34 Capital Outlay. Plants $ 630 70 Structures 4230 93 4870 63 $ 10060 36 Total Park Department , 7 GENERAL FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1976 CASH BALANCE, September 109 1975 Cash Certificates of Deposit RECEIPTS Revenues (Page 4) Utility Fund Account Transfers Interfund Account Decrease State Tax on Fines Increase TOTAL AVAILABLE DISBURSEMENTS Expense (Pages 4-7) CASH BALANCE, August 31, 1976 Cash Certificates of Deposit $ 519 045. 13 10. 041. 75 $101, 957. 83 50, 727. 15 77. 62 22. 25 10, 556. 58 152a 784. 85 $167, 871. 73 154, 113. 58 8 CITY OF SANGER, TEXAS UTILITY FiTND BALANCE SHEET August 3,1,' 1976 CASH AND RECEIVABLES Cash®Regular Account $ 1, 499. 17 Cash=Savings Account 173.58 Cash®Savings Account®Equip. Replacement Fund 59535. 36 Certificates of Deposit 370070. 82 Accounts Receivable $ 120841. 69 Less:Allowance for Doubtful Accts, 952. 33 11, 889. 36 Due from General Obligation Bond Fund 1, 820. 83 Due from Payroll Fund 596. 07 DEBT SERVICE FUNDS CashmRevenue Bond Int. &Skg. Fund $ 25, 711. 86 Cash®Revenue Bond Reserve Fund 3149 789. 48 Cash=Emergency Fund 9, 243. 45 UTILITY BOND CONSTRUCTION FUND Cash $ 109.80 Investments=Certificates of Deposit 253, 010. 73 FIXED ASSETS Electric Plant and Equipment $ 750, 446. 22 Water System Plant and Equipment 330, 597. 51 Sewer System Plant and Equipment 350, 029. 34 Office Equipment 6,235o30 Mobile Equipment 16, 864. 00 Easements®Skelly Sewer Extension 1, 500. 00 Total $1, 455, 672. 37 Less: Allowance for Depreciation 49969859.46 TOTAL ASSETS $ 58, 585. 19 66, 744. 79 253, 120. 53 955, 812. 91 LIABILITIES, RESERVES AND EARNINGS LIABILITIES Revenue Bonds Payable Time Warrants Payable Refundable Contract -Sewer Line Extention Customers' Deposits RETAINED $6750 000. 00 4, OOOe 00 259000. 00 llp 981.41 BRAZOS ELECTRIC POWER COOPERATIVE AGREEMENT Capital Expenditures -Contingently Refundable RESERVE FOR DEBT REQUIREMENTS U. S. GOVERNMENT GRANT -SEWER TREATMENT PLANT RETAINED EARNINGS Balance, September 1, 1975 Add: Net Income for Year Reduction of Wts. Payable by Tax and Warrant Int. & Skg. Fund T otal Deduct: Transfers to Gen. Fd. $ 509727. 15 Transfers to G. O. Bond Fd. 5, 560. 49 Increase in Reserve for Debt Requirements 170307. 87 Balance, August 31, 1976 $291, 193. 13 87, 097. 20 73, 595. 51 TOTAL LIABILITIES, RESERVES AND RETAINED EARNINGS $ 715, 981. 41 137, 243. 12 66, 744. 79 76, 910. 00 $1, 334, 263.42 CITY OF SANDER, TEXAS UTILITY FUND STATEMENT OF REVENUE AND EXPENSE Year Ended August 31, 1976 OPERATING REVENUES Water Revenue Sewer Revenues Electric Revenue -Brazos Electric Coop Contract Water Taps Sewer Taps Penalties Miscellaneous Total _OPERATING EXPENSES Water Department Sewer Department Total OTHER REVENUES Accrued Interest and Premium on Bonds Sold Interest Income Water and Sewer Extensions T otal OTHER CHARGES Depreciation of Utility Plant Interest on Funded Debt Paying Agent Fees Total NET INCOME $ 6119 023a 09 22, 151, 34 860585, 57 2, 552. 00 620. 00 1, 282, 61 925, 53 $175, 140> 14 $ 35, 269. 17 17, 396.41 $ 52, 665, 58 $122, 474, 56 12, 217. 39 1, 910e 00 $ 189430, 55 $ 30, 503, 46 23, 250, 00 54. 45 $ 539 807e 91 11 CITY OF SANGER, TEXAS UTILITY FUND SCHEDULE OF OPERATING EXPENSES Year Ended August 31, 1976 WATER DEPARTMENT Salaries and Wages: Salaries Social Security Expense Supplies Maintenance -Structures Maintenance - Equipment Miscellaneous Services: Contract Labor Insurance Utilities Uniforms Legal and Accounting Telephone Dues and Subscriptions Postage Miscellaneous Total Water Department SEWER DEPARTMENT Salaries and Wages: Salaries Social Security Expense Supplies Maintenance ®Structure Maintenance ® Equiprnent Miscellaneous Services; Legal and Accounting Insurance Utilities Lab Expense Other Sewer Department Expense Total Sewer Department $ 1860 916. 51 1, 105. 11 $ 393. 25 1, 382, 36 5, 788. 25 64. 60 616. 69 316. 16 76. 00 1, 620, 00 170, 18 $ 296. 69 548. 86 4, 033o 69 726. 00 35. 13 $ 2019 021a 62 2, 719. 25 1, 804. 79 296, 02 10, 427. 49 $ 3569 269. 17 $ 9, 9290 53 476. 19 11, 53 1,9338o79 5, 640, 37 $ 17, 396. 41 12 CITY OF SANGER, TEXAS UTILITY FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1976 BALANCE, September 1, 17 Utility Fund=Cash Regular Utility Fund�Savings Account Utility Fund ®Certificates of Deposit RECEIPTS Operating Revenues (Page 11) Water and Sewer Extensions Interest Income Customers' DepositsaNet Increase TOTAL AVAILABLE DISBURSEMENTS Water and Sewer Operating Expenses (Pages 11�12) Capital Outlay -Water and Sewer: Electric System Improvement $ 10, 899. 94 Water System Improvements 3, 907. 90 Sewer System Improvements 427. 54 Tractor 41000. 00 Transfers to: Interest and Sinking Fund $ 46, 700. 00 Reserve Fund 509 8569 00 Emergency Fund 104 200. 00 General Fund 50, 727. 15 Accounts Receivable�Net Adjusted Increase Total Disbursements BALANCE, August 31, 1976 Utility Fund=Cash Regular Utility Fund®Savings Accounts Utility Fund=Certificates of Deposit Utility FundmSavings ® Equipment Replacement Fd. $ 610 020. 19 3, 155. 23 32, 412, 01 $175, 140. 14 1, 910. 00 2, 042, 19 1, 060o 22 $ 52, 665. 58 19, 235. 38 104, 4830 15 1, 076. 94 1730 58 37, 070. 82 5,535o36 $ 41, 587. 43 180, 152. 55 $221, 739. 98 177, 4610 05 $ 44, 278. 93 CITY OF SANGER, TEXAS UTILITY BOND CONSTRUCTION FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1976 BALANCE, September 119 1975 Cash in Bank $ 396. 23 Certificate of Deposit 729 188. 29 $ 72, 584. 52 RECEIPTS Bond Proceeds (Series 1976) $30569000, 00 Premium on Bonds Sold 967. 21 Accrued Interest on Bonds Sold 3, 335. 95 Contributions in Aid of Construction 21, 339. 28 Interest Earned on Investments 79522. 83 Total Receipts 3380165. 27 TOTAL AVAILABLE $410, 749. 79 DISBURSEMENTS Electric System Improvements Water System Improvements Sewer System Improvements Transfer Prior Years Interest on Joint C. D. to G. O. Bond Fund BALANCE, August 31, 1976 Cash in Bank Certificates of Deposit 539509. 52 $ 149227. 77 849331. 48 1 1. CITY OF SANGER, TEXAS REVENUE BOND INTEREST AND SINKING FUNDS STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1976 Skg. Reserve Fund Fund BALANCE, i September 1, 1975 CashmSavings $ 16, 428. 73 $ 24, 579, 63 RECEIPTS Transfers from: Revenue Fund Interest Received Total $ 47, 587. 58 $ 5, 8560 00 1,9353o85 $ 7, 209. 85 Emergency Fund $ 79 632. 51 Total $ 53, 756. 00 2, 652. 37 $ 56, 408. 37 TOTAL AVAILABLE $ 64, 016. 31 $ 31, 789.48 $ 9, 243. 45 $105, 049. 24 DISBURSEMENTS Bonds Paid $ 15, 000. 00 $ $ $ 159000. 00 Interest Paid 23, 250. 00 23, 250. 00 Paying Agents Fee 54, 45 54, 45 Total $ 38, 304, 45 o $ 38, 304.45 i BALANCE, August 31, 1976 Cash -Savings Account $ 25, 711. 86 $ 31, 789, 48 $ 96o 2430 45 $ 669744, 79 15 TAX AND WARRANT INTEREST AND SINKING FUND BALANCE SHEET August 31, 1976 ASSET S LIABILITIES AND FUND B A L A N C E Appropriated for Debt Service STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1976 BALANCE, September 1, 1975 Cash=Savings Account �I RECEIPTS Transfers from General Fund Interest Received Total Receipts DISBURSEMENTS Warrants Paid G.O. Bonds Paid Interest Paid�Warrants Interest Paid�Bonds Paying Agents Fees $ 12, 780, 00 154. 38 $ 4, OOOo 00 5, 000, 00 446. 14 2, 1500 00 Z6o 25 $ 796.05 12. 934. 38 $ 13, 730. 43 11, 622. 39 16 CITY OF SANGER, TEXAS GENERAL OBLIGATION BOND FUND BALANCE SHEET August 31, 1976 INVESTMENTS Certificate of Deposit LIABILITIES AND FUND B A L A.N C E FUND BALANCE Unappropriated Appropriated for Municipal Buildings $ 5236 68 38, 659, 16 $ 8, 382e 84 2899799 17 37, 3620 01 STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1976 Certificate of Deposit RECEIPTS Prior Years' Interest on Joint CD Transferred from Utility Bond Construction Fund Interest Earned e Current Year TOTAL AVAILABLE BALANCE, August 31, 1976 Cash in Bank Certificate of Deposit �1 REVENUE SHARING FUND BALANCE SHEET August 31, 1976 ASSET S INVESTMENTS Certificates of Deposit L T A B I L I T T E S AND FUND B A L A N C E STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1976 RECEIPTS Received from Revenue Sharing Interest Earned DISBURSEMENTS Fire Fighting Equipment Publishing Report 477. 05 $ 1, 2100 20 18. 48 $ 349 020, 09 11, 507. 63 $ 14, 527. 72 8, 902. 05 $ 15, 756.40 1, 228. 68 CASH CITY OF SANGER. TEXAS PAYROLL FUND BALANCE SHEET August 31, '1976 LIABILITIES AND FUND B A L A N C E CURRENT LIABILITIES Insurance Payable Payroll Taxes Payable INTERFUND ACCOUNTS General Fund Utility Fund FUND BALANCE TOTAL LIABILITIES AND FUND BALANCE 1, 445. 85 -o- $ 3, 767. 53 19 CITY OF SANGER, TEXAS STATEMENT OF GENERAL FIXED ASSETS Year Ended August 31, 1976 Additions - (Deductions ) Balance Current Bond Balance 9-1-75 Revenues Funds 8�31-76 Land $ 8, 683. 25 $ $ $ 8, 683. 25 Buildings 74, 6260 45 74, 626. 45 Fire Department Equip, 36, 716. 02 924< 00 37, 640. 02 Street Irnpr overnent s and Equipment 699834.45 189800. 41 830022, 79 (a) (5,61Z.07) Office Equipment 69 901. 69 6,901o69 Park Imp. and Equipment 2, 740. 28 487. 63 3, 227< 91 Police Dept. Equipment 9, 388. 89 2, 279. 44 11, 668.33 Sanitation Equipment 7, 008, 05 7, 008. 05 Transportation Equip. and Tools 13, 882. 50 13, 882. 50 (a) Trade -In CITY OF SANGER. TEXAS SCHEDULE OF BONDED DEBT August 31, 1976 Original Balance Bonds Dated Amount 9�1�75 Issued General Obligation Bonds Gene Obligo Series 1973 7-1�73 $ 509000o 00 $ 40, OOOo 00 $ Time Warrants 2=29�72 20, 0000 00 8, OOOo 00 Sub�Total $ 48, OOOa 00 $ oo® Revenue Bonds Utility Rev. Bonds 11®15069 $150, 00 00 $100, 0000 00 $ Utility Rev. Bonds 5�15-73 29590000 00 285, OOOo 00 Utility Rev. Bonds 3�15-76 3059000o 00 305, 0000 00 Sub ®Total Grand Total $385, 000a 00 $305, OOOo 00 Note 1 o In addition to the above debt the City has Electric Light and Power System Revenue Bonds, dated 170 1, 1954 which have been assumed in full by the Texas Power & Light Company in consideration for sale by the City of its system in Valley View Community. 21 i Balance Interest Retired 8®31-76 Rate Maturities $ 59 000o 00 $ 359 000o 00 5®3/8°jo 5M®7/1/7743 49 000o 00 49 000o 00 5-1/2oj0 4M-3/1/77 $ 99 000o 00 $ 399 OOOo 00 $ 109 000, 00 $ 909 0000 00 6-3/47o lOM-5/ 15/77-85 59 000o 00 2809 OOOo 00 5-1/2 o 5M-5/15/77-80; IOM�81; 5-3/4°/o lOM-82/85; 25M-86/87; 5-7/8 o 25M48; 30M-89/90; 35M-91/92;5M-93. ®o- 3059 000, 00 5, 50% 5M-5/ 15/77-79; lOM-80; 60 50% 5M41/82; IOM=83/87; 7o 00 o IOM-88/90; 7o 25 o IOM-91; 15M=92; 5o 50 o 50M-93; 55M�94; 60M-95o $ 159 OOOo 00 $6759 OOOo 00 22 CITY OF SANGER, TEXAS INSURANCE IN FORCE August 31, 1976 Company The North River Insurance Co, American States Insurance Coo American States Insurance Coo Select Insurance Company American States Insurance Co, Western Surety Bond Coe Western Surety Bond Co, Select Insurance Co, Westchester Fire Insurance Coo Policy Numb e r R-579441 AF-303429 AF-306860 WC-573-7523 542-399-481 32662 32663 GA-591-15-03 R�704316 Hartford Accident & Indeminty Coo VP-104239 American States Insurance Co. (3F-179-659 Policy Period From To 2-13-74 2-13-77 12-28-75 11-19-75 2-18-76 4-29-76 11-16-75 12�28-78 11-19-76 2-18-77 4-29-77 11-16-?6 23 Liability Coverage Coinso Limits Premium City Hall and Post Office 80% Fire & Eo Co ; Vandalizm & Mo Mo $ 50, 000, 00 $ 1150 00 Contents of City Office 80% Fire & Eo Ce 5, OOOo 00 Fire and Eo Co on Following: Eleca Light &Water Pump Plant 80% 22, 5000 00 Paid by Contents of Above 80% 175, OOOo 00 Brazos Eleco Frame Cooling Tower 3, 000, 00 Co, 12 Meal, Steel Fuel Oil Storage 90% 6, OOOa 00 Fire and Eo Co Paid by Warehouse 101 Cherry Sto 1, OOOo 00 Brazos Eleco Contents of Above 4, OOOo 00 Coo Standard Workrnens Compo (>��) 2, 7070 00 Automobiles Fleet Policy®All City Vehicles 1, 8070 00 Bo Io 100/300M Po Do lOM Comprehensive=ACV $250 Dedo Collision Surety Bond®City Secretary 10, OOOo 00 350 00 Surety Bond®City Manager 10, OOOo 00 35a 00 General Liability ('��) 1, 2140 00 Bo Io 300M Po Do 25M Medical 5000 00 Fire &Extended Coverage 80% 338< 00 Water Tower 40, OOOo 00 Ground Storage Tanks 53, OOOo 00 Pumps 10, 300, 00 Volunteer Fire Depto 340, 00 1973 Ford Backhoe 8, 525a 00 1070 00 Theft, Collision, Landslide, Upset $250 Dedo � ('��) Advance Premium 1' 24 CITY OF SANGER9 TEXAS WATER RATES Within City Limits, First 39 000 gallons Next 10,000 gallons Over 139 000 gallons Outside City Limits: First 3,000 gallons Next 109 000 gallons Over 139 000 gallons UTILITY RATES August 319 1976 (Minimum) (per 1000 gallons) per 1000 gallons) (Minimum ) (per 1000 gallons) per 1000 gallons) SEWER RATES Within City Limits Residential _ Flat Rate $2. 25 Commercial e Flat Rate 3. 50 NUMBER OF CONNECTIONS (August 319 1976) Water Sewer Electric <60 .50 1. 20 1. 00 Outside City Limits $4. 50 7. 00 Gallons of water pumped year ended August 319 1976 829 6619 800 859 776 963 25 • AD VALOREM TAX INFORMATION Year Ended August 31, 1976 Tax Assessed Tax Tax Current Total Year Value Rate Levy Collections Percent Collections Percent 1966 $ 8349 175 $ Oo 90 $ 795070 58 $ 6098370 52 910 07%o $ 7, 971. 54 1060 18 o 1967 8859764 0 90 7, 9710 88 7, 2500 68 900 95 o 8, 2710 62 1030 760�o 1968 964, 517 0 90 8, 6800 68 79 8750 09 900 72% 9, 41 L 04 1080 41°jo 1969 1,90059047 0 90 990420 93 8, 3410 92 920 2476 8, 6000 46 950 1176 1970 1, 061, 557 0 90 9a 4740 05 8, 8190 71 930 09% 9a 294. 19 98 0176 1971 3p768,9411 0 60 22, 6060 61 20, 4180 81 900 3276 21, 5090 49 950 15°jo 1972 4, 029, 693 0 60 2491650 38 22, 7600 67 940 19o 23, 9389 17 990 06% 1973 495199878 0 60 279 1190 28 24, 4820 28 900 28% 25, 1000 82 920 56% 1974 5, 411, 061 0 60 32, 4660 40 29, 0880 61 890 60% 29, 9070 58 920 12°j0 1975 5, 974, 913 0 60 3500 846. 97 33, 0670 26 92. 2574 36, 0400 03 1000 54% Year Ended 1967 $ 28, 6430 70 $ 22, 2020 70 $ 6, 4410 00 1968 2896460 52 21, 8930 52 6, 7530 00 1969 32, 3780 43 22, 9450 64 9, 4320 79 1970 4096300 86 23, 6310 31 16, 9990 55 1971 48, 0900 94 30, 2060 20 17, 8840 74 1972 65, 8170 09 47, 4360 12 189 3800 97 1973 70, lO90 30 50, 6470 45 1994610 85 1974 7793480 90 576o 1360 16 209 2120 74 1975 76, 7580 31 5597420 31 21, 016, 00 1976 83, 1740 43 61, 0230 09 22, 1510 34 GENERAL OBLIGATION BONDS AND WARRANTS PRINCIPAL AND INTEREST REQUIREMENTS August 319 1976 Year _ Total 1976®77 $ 99.0000 00 $ 29 1010 25 $ 119 1010 25 1977=78 59 000, 00 19 612o 50 69 612o 50 1978®79 59 000o 00 19 343o 75 69 343o 75 1979=80 59 000100 19 075c 00 69 075. 00 1980-81 59 OOOo 00 8060 25 59 806, 25 1981 �82 59 OOOo 00 537e 50 59 5370 50 1982=83 59 000o 00 2680 75 59 268o 75 Total $ 399 OOOo 00 $ 79 745, 00 $ 469 745, 00 27 CITY OF SANGER. TEXAS UTILITY SYSTEM REVENUE BONDS PRINCIPAL AND INTEREST REQUIREMENTS August 31, 1976 Year Principal Interest Total 1976®77 $ 209 0000 00 $ 439 606, 25 $ 639 6060 25 1977-78 20, 0000 00 39093370 50 59, 337o 50 1978-79 209 0000 00 389 112, 50 58, 112, 50 1979-80 259 000o 00 36, 8870 50 61, 887. 50 1980�81 25, OOOo 00 359387, 50 609 3870 50 1981-82 259 OOOo 00 339 8370 50 580q 837. 50 1982-83 30, OOOo 00 32, 262. 50 62, 2620 50 1983-84 30, OOOo 00 3009 362. 50 609 3620 50 1984-85 309 000o 00 28, 462, 50 589 462, 50 1985-86 35, OOOo 00 26, 562, 50 619 562a 50 1986�87 3509000o 00 249475o 50 59, 475* 50 198748 35, OOOe 00 22, 387o 50 57, 387e 50 1988-89 40, OOOo 00 209 218e 50 6009 218o 50 1989-90 409 OOOo 00 179 756. 50 579 7560 50 1990-91 45, OOOo 00 159 293, 50 60, 293, 50 1991®92 509 OOOa 00 129 512, 50 62, 5120 50 1992-93 55, 000000 99 3690 00 64, 369e 00 1993-94 559 000o 00 6, 325, 00 61, 325o 00 1994_95 60, 000o 00 3, 300, 00 63, 300, 00 Total $675, OOOe 00 $476, 456, 75 $1, 151, 4560 75