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