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1973 Annual Financial ReportCITY OF SANGERI TEXA5 REPORT OF EXA MINA TI ON August 31, 1973 SMITH, BAINES AND COMPANX Certified Public Accountants Meadows Building Dallas, Texas FuNWHIN �. R. B. SMITH J, D. BAINES CERTIFIED PUBLIC ACCOUNTANTS Member of American Institute of Certified Public Accountants MEADOWS BUILDING DALLAS, TEXAS 75206 214 — 369-9216 CABLE ADDRESS SMITHBAIN — DALLAS To the Mayor; and City Council City of Sanger Sanger, Texas Gentlemen; We have examined the balance sheets ofthe various funds of the City of Sanger, Texas, at August 31, 1973, and related statements of operations for the year then ended. Our examination was made primarily on the cash basis method of accounting. Operating revenues and expenses of the City's electric system are reported based on information submitted by Brazos Electric Power Coopera- tive. These transactions, more fully covered in our comments below, were taken from sources believed to be reliable, but were not directly examined by us. We present herewith the following financial statements and schedules: Pages Combined Balance Sheet - All Funds 1-2 Individual Fund Statements: General Fund 3-7 Utility Fund 8 -13 Revenue Bond Interest and Sinking Funds 14 General Obligation Bond Fund 15 Revenue Sharing Fund 16 Payroll Fund 17 Sewer Treatment Plant Construction Fund 18-19 Utility Rates (and statistics) 20 Ad Valorem Tax Information 21 Comparative Utility Revenue 21 Bonded Debt Schedule 22-23 Insurance in Force 24-25 Our Comments which follow: 1. Electric System Operations On January 1, 1971, the City entered into an operating agreement with Brazos Electric Power Cooperative, whereby the Cooperative assumes operations and maintenance of the City's electric system. Under its terms, the City receives cash payments based on the following: k� A. 5 o of gross electric revenues �� M`f B. Equivalent of Ad Valorem Taxes C. 65o of $450, 000 Invested Interest D. Amount to Cover Bond Requirements - 1969 Revenue Bonds (exclusive of $61, 000 refunding portion) During the year, the City received a total of $60, 972. 62 in cash receipts from the above agreement. However, earnings reported in the statement of revenues are based on those of the Cooperative, with indicated net operating revenues of $76, 246. These earnings are available to the City but are first committed for repayment to the Cooperative for any Capital improvements made in the plant account, Capital irnprovements reported for the period January 1, 1971 through August 31, 1973, amount to $154, 430. These improvements become the property of the City and have been booked as fixed assets. Since such im- provements are contingently refundable to the Cooperative under certain termination provisions, we have established the account "Capital Expendi- tures - Contingently Refundable" in the amount of $137, 243, 12, representing the net recoverable deficit due to Capital expenditures made by the Cooperative through August 31, 1973. 2. Sewer Treatment Plant Construction During the year the City completed a sewer treatment plant. Financ- ing for this project included an agreement with Trinity River Authority, acting as Signatory under the State Water Polution Control Compact. Under this agreement, TRA issued $45, 000 in revenue bonds to be paid from con- tractual amounts received from the City sufficient to retire the debt, provide reserve funds and cover administrative expenses of the Authority relative to the contract. Other financing for the treatment plant are being provided from a U. S. Grant Agreement (HUD) totalling $79, 750. 000 and from City Utility Funds of $30, 000. 00. These transactions are reported on pages 18-19. 3. Time Warrants Payable During the year the City issued $20, 000 in time warrants described on pages 22-23, the proceeds being deposited into the Utility Fund. 4. Refundable Contract -Sewer Line Agreement On January 17, 1972, the City entered into a refundable agreement with Skelly Oil Company for the construction of a sanitary sewer line. (b) 5. The City received $25, 000 for construction of the line and has funded this amount in a separate account. To date, the sewer line has not yet been constructed. On completion of the line, amounts are refundable based on use by other customers of the line, with expiration of the agreement in seven years. Utility System Revenue Bonds During the year the City issued $295, 000 Utility System Revenue Bonds described in detail in the Bonded Debt Schedule which is a part of this report. These bonds were issued for: Water Improvements $110, 000 Sewer Improvements 85, 000 Electric 100, 000 Total $295, 000 These Bonds are in addition to the Utility Revenue Bonds dated November 1 5, 1969 in the original amount of .$1'60, 000. The ordinance authorizing the issuance of these bonds provided (among other things) for monthly transfers to the Interest and Sinking Funds to provide an amount sufficient to pay debt service maturities as they become due. Additionallythe 1969 issue provides for monthly payments into a Reserve Fund of $267 until this fund contains $16, 000 plus $100 per month into an emergency fund until $10, 000 is accumulated. The 1973 Revenue Bond ordinance carries the provision for $446. 00 per month to be deposited in the Reserve account until $36, 863. 13 has been ac cumulated. As compared with requirements at August 31, 197;3, the balances in these accounts are as follows: Required 8-31-73 Interest and Sinking Fund $ 8, 037. 50 Reserve Fund 111030. 60 Emergency Fund 41500. 00 Total $ 23, 568. 10 December 10, 1973 t Acual 8-31-73 $ 12, 959.'Ol 11, 817. 59 4,543e93 $ 2% 320. 53 Over (Short $ 4,921,51 786. 99 43. 93 $ 5, 752. 43 Respectfully submitted Smith, Baines and Company Certified Public Accountants (c) CITY OF SANGER5 TEXAS COMBINED BALANCE SHEET - ALL FUNDS August 30, 1973 Cash90perating Cash -Restricted Fund Investments -Operating Investments �Restricted Funds Ad Valorem Taxes Receivable Utility Accounts Receivable (Net) Interfund Accounts Fixed Assets Allowance for Depreciation Net Fixed Assets TOTAL ASSETS LIABILITIES, RESERVES Bonds Payable Warrants Payable Notes Payable - Equipment Refundable ContractmSewer Line Refundable Grant-TRA Customers' Deposits Reserve for Delinquent taxes (Contra) Contingently Refundable ® Capital Expenditure Brazos Agreement U. S. Government Grant Interfund Accounts Reserve for Debt Requirements Payroll Deductions Investment in Fixed Assets Surplus Fund Balance General Fund 11, 000. 00 16, 064. 94 $ 165, 269. 42 $165, 269. 42 .Utility Fund 48, 544. O1 32, 753. 88 30, 500. 00 2652 000. 00 9, 532. 03 119 371. 02 $1, 032, 003. 34 417, 982. 45 $ 614, 020. 89 $194, 599. 61 $1, 011, 721. 83 AND S U R P L U S TOTAL LIABTLITTES, RESERVES AND SURPLUS 16, 000. 00 '.11, 028. 00 25, 000. 00 45, 000. 00 10, 211. 50 16, 064. 94 2, 308. 25 165, 269. 42 10, 957. 00 $194, 599. 61 137, 243. 12 76, 910. 00 6, 659. 32 32, ?53. 88 235, 916. O1 1 0 General Oblig, Bd, Fund 50, 000. 00 Revenue Sewer .Treat, Sharing Payroll Plant Fund Fund Constr. Fund $ 5,950s78 $ 3, 291, 98 $ 19, 30 $ 50, 0000 00 $ 5,950978 $ 3, 291, 98 $ 199 30 1, 820, 83 990, 16 2, o9o, 92 210, 90 48, 1790'17 5, 950. 78 19, 30 $ 501000, 00 $ 5, 950, 78 $ 3, 291, 98 $ 19, 30 2 CITY OF SANGER, TEXAS GENERAL FUND BALANCE SHEET August 31, 1973 CASH AND RECEIVABLES Cash in Bank $ 1, 838. 41 Certificates of Deposit 111 000. 00 Ad Valorem Taxes Receivable 16, 064. 94 Due from Payroll Fund 426, 84 FIXED ASSETS Land $ 8, 68 3. 25 Buildings 741626. 45 Fire Department Equipment 10, 682. 15 Street Improvements and Equipment 36t 911, 11 Office Equipment 6, 133. 58 Park Improvements and Equipment 2, 062. 90 Police Equipment 51 279. 43 Sanitation Equipment 7,008005 Transportation Equipment and Tools 13, 882. 50 TOTAL ASSETS LIABILITIES, RESERVES AND SURPLUS LTA BILITIES Due to Utility Fund RESERVE FOR DELINQUENT TAXES (Contra) SURPLUS_ Invested in General Fixed Assets $1652269. 42 Unappropriated 100 957. 00 TOTAL LIABILITIES, RESERVES AND SURPLUS � 29, 330. 19 165, 269. 42 $194, 599. 61 16, 064. 94 176, 226, 42 $ 194, 599. 61 3 CITY OF SANDER, TEXAS GENERAL FUND STATEMENT OF REVENUE AND EXPENSE Year Ended August 31, 1973 REVENUES Ad Valorem Taxes -Current 1973 Roll Ad Valorem Taxes�Prior Rolls Ad Valorem Taxes -Penalty and Interest Sales Tax Fine s Franchise Tax Occupation Tax and Permits Other Fees and Permits Sale of Material 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 NET LOSS $ 22, 760. 67 1, 177. 50 302. 88 $ 242 241. 05 11, 029. 22 1, 544. 34 2,559o84 196. 00 1, 797. 00 290, 27 1, 840. 92 241. 00 210. 50 200. 26 181496. 47 106. 75 2,844,o6 232. 30 $ 651829. 98 2, 006. 11 24, 870. 10 139 239. 69 1% 268. 50 307. 96 97, 779. 47 $ 131, 949. 491 0 CITY OF SANGER, TEXAS GENERAL FUND DEPARTMENTAL EXPENSE Year Ended August 31, 1973 A DMINISTRA TIVE Salaries and Wages Supplies Maintenance®Buildings Maintenance ® Equipment Telephone Insurance Legal and Accounting Travel Expense Social Security Expense Utilities City Council Fees Contract Labor Election Expense Master Plan Other Administrative Expense Tax Assessing and Collecting Expense R ent FIRE DEPARTMENT Salaries and Wages Supplies Maintenance o Building Maintenanc e a Equipment Telephone Insurance Other Fire Department Expense POLICE DEPARTMENT Salaries and Wage s Supplies Maintenance - Equipment Telephone Car Hire Animal Disposal Insurance Other Police Department Expense Corporation Court Expense Utilities Contract Labor � 18, 811. 87 1, 178. 80 664. 16 579. 00 1, 093. 89 4179 25 2, 408. 73 160. 00 2, 643. 09 627. 09 2,220000 376. 80 206. 50 3, 369. 00 2, 710. 83 367. 10 253. 00 480. 00 77. O1 120. 97 235. 20 533. 00 287. 00 272. 91 $ 17, 702. 60 1, 430. 67 832. 88 913. 30 300. 00 471. 00 8619 00 173. 15 495. 79 422. 11 1, 267. 60 $ 38, 087. 11 $ 24, 870. 10 5 CITY OF SANGER, TEXAS GENERAL FUND DEPARTMENTAL EXPENSE Year Ended August 31, 1973 STREET DEPARTMENT Salaries and Wages Supplies Maintenance -Streets Maintenance ® Equipment Utilities Contract Labor Insurance Other Street Department Expense Contract Hauling SANITATION DEPARTMENT Salaries and Wages Supplies Maintenance ® Dump Grounds Maintenance m Equipment Contract Labor Insurance Interest Expense Miscellaneous PARK DEPARTMENT Contract Labor Suppl.ie's Insurance 1, 000. 32 3, 699. 90 1, 119. 54 32725950 101. 25 866. 00 63. 33 1, 357. 09 $ 10, 381. 09 839. 25 1, 923. 64 1, 727. 35 3, 306. 25 723. 00 119. 72 248. 20 $ 255, 00 43. 96 9. 00 $ 19, 268. 50 CITY OF SANGER, TEXAS GENERAL FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1973 CASH BALANCE, September 1, 1972 RECEIPTS Revenues (Page 4) Utility Fund Account Transfers (Net) TOTAL AVAILABLE DISBURSEMENTS Expense (Pages 5-6) Capital Outlay$ Office Equipment M ` Street Equipment Note Payments -Sanitation Equipment Payroll. Fund Account Transfer to Time Warrant Fund CASH BALANCE, August 31, 1973 Cash Certificates of Deposit $ 65, 829. 9g 44, 946. 95 $ 97, 779. 47 $ 3832. 47 , 110, 776. 93 $11 4, 609. 40 122. 00 420. 61 2, 145. 00 368. 61 1, 057. 30 101, 770. 99 $ 1, 838. 41 110 000. 00 $ 12, 838. 41 7 CITY OF SANGER, TEXAS UTILITY FUND BALANCE SHEET August 31, 1973 CASH AND RECEIVABLES Cash®Regular Account Cash�Savings Accounts Cash�TRA Contract Account Cash�Sewer Line Agreement Account Certificates of Deposit Accounts Receivable $ 10, 484. 36 Less: Allowance for Doubtful Accts, 952. 33 Due from General Fund Due from General Obligation Bond Fund Due from Payroll Fund 16, 803. 33 200000 25, 827. 70 30, 500. 00 9, 532. 03 2, 308925 1, 820983 563. 32 $ 93, 268, 44 RESTRICTED FUND A CCOUNTS Cash�Revenue Bond Int. & Skg. Fund $ 12, 959, 01 Cash�Revenue Bond Reserve Fund 11, 817. 59 Cash�Emergency Fund 4,543o93 Cash�Time Warrant Fund 3,433a35 .32, 753. 88 UTILITY BOND CONSTRUCTION FUND Investments® Certificates of Deposit $ 265, 000. 00 Due from Utility Fund 6, 659. 32 271, 659. 32 FIXED ASSETS Electric Plant and Equipment Water System Plant and Equipment Sewer System Plant and Equipment Office Equipment Mobile Equipment Easements�Skelly Sewer Extension T otal Less: Allowance for Depreciation CONSTRUCTION A PPROPRIA TION Sewer Treatment Plant TOTAL ASSETS $583, 355. 39 2071 255. 68 221, 492. 97 6, 235. 30 12, 864. 00 800. 00 $l, 032, 003. 34 417, 982. 45 614, 020. 89 19. 30 $1, 011, 721. 83 LTA BTLTTIES, LIA BT LT TI ES RESERVES AND S U R P L U S Revenue Bonds Payable Time Warrants Payable Note Payable ® Equipment Refundable Contract�Sewer Line Equipment Customers' Deposits Due to Utility Bond Construction Fund $ 415, 000, 00 16, 000, 00 11, 028, 00 259000, 00 10, 211, 50 6, 659, 32 BRAZOS ELECTRIC POWER COOPERATIVE AGREEMENT Capital Expenditures=Contingently Refundable RESERVE FOR DEBT REQUIREMENTS REFUNDABLE WASTE DISPOSAL GRANT FROM TRA U, S, GOVERNMENT GRANT=SEWER TREATMENT PLANT TOTAL LIABILITIES, RESERVES AND SURPLUS 137, 243, 12 32, 753, 88 45, 000, 00 76, 910, o0 2 35, 916, O 1 $1, 011, 721, 83 0 CITY OF SANGER, TEXAS UTILITY FUND STATEMENT OF REVENUE AND EXPENSE Year Ended August 31, 1973 OPERATING REVENUES Water Revenue Sewer Revenue Electric Revenue Water Taps Sewer Taps Penalties Miscellaneous Total OPERATING EXPENSES Water Department. Sewer Department Electric Total Water and Sewe r $ 50, 647. 45 19, 461. 85 2, 317. 00 1,886900 778069 1, 550. 15 $ 769 641. 14 $ 26, 303. 17 139 339, 13 $ 39, 642. 30 Electric (Note) 219, 226. 00 $219, 226. 00 142, 980. 00 $142, 980. 00 NET OPERATING REVENUES $ 36, 998. 84 $ 76, 246. 00 OTHER REVENUES Interest Income OTHER CHARGES Depreciation of Utility Plant Interest on Funded Debt. Paying Agents Fees Total NET INCOME Total $ 50, 647. 45 192 461. 85 2191226. 00 2, 317. 00 1, 886. 00 778069 1, 550. 15 $295, 867. 14 $ 26, 303. 17 13, 339. 13 142, 980. 00 $1821622. 30 $113, 244. 84 3, 364. 45 $ 20, 571. 48 9, 948. 41 17. 50 $ 309 537. 39 $ 86, 071, 90 NOTE: Electric revenues and expenses for operations are reported by Brazos Electric Power Cooperative as shown. The system is operated by the Coop under contract. Cash receipts received by the City for the year under the agreement amounted to $60, 972. 62. 10 CITY OF SANDER, TEXAS UTILITY FUND SCHEDULE OF OPERATING EXPENSE Year Ended August 31, 1973 WATER DEPARTMENT Salaries and Wages $ 109 822. 76 Supplies 1, 783. 13 Maintenance = Buildings and Equipment 6, 890. 34 Insurance 11 181. 75 Uniforms 71. 40 Social Security Expense 9719 48 Power and Utilities 3, 398. 57 Rent 105. 96 Lab 40. 50 Contract Labor 474. 35 Miscellaneous 562. 93 SEWER DEPARTMENT Salaries and Wages $ 6, 454. 22 Supplie s 689. 10 Maintenance � Equipment 745. 39 TRA Contract (Sewer Compact) 2, 5200 00 Miscellaneous 141. 64 Insurance 302. 00 Utilities 2, 046. 78 Lab 405. 00 Contract Labor 35. 00 ELECTRIC DEPARTMENT (Note Page 10) Power Purchased $1029 034a 00 Generating Expense 22 458. 00 Distribution Expense 14, 078. 00 Customers' Accounts 139 323. 00 Administrative and General 119 087. 00 $ 26, 303. 17 $ 13, 339. 13 $142, 980. 00 11 CITY OF BANGER, TEXAS UTILITY FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1973 BALANCE, September 1, 1972 Utility Fund c Cash, Regular $ 23, 261. 66 Utility FundmSavings Account 14, 058. 50 TRA Fund 200000 $ 372520. 16 RECEIPTS Water and Sewer Revenues (Page 9) $ 76, 641. 14 Electric Revenues (Contractual Income) 60, 972, 62 Customers' Deposits Net Increase 1, 112. 92 Interest Income 12037. 87 Transfer from Sewer Treatment Plant Fund 49000. 00 Note Proceeds 112 0280 00 Due to Utility Bond Construction Fund 6, 659. 32 Total Receipts 161, 451. 87 TOTAL AVAILABLE $198, 972, 03 DISBURSEMENTS Water and Sewer Operating Expenses (Page 9) $ 39, 642. 30 Capital Outlay o Water and Sewer: Water System Improvements $ 129 447. 14 Sewer System Improvements 773. 76 Machinery and Equipment 11, 064. 00 249284. 90 Transfers to. Interest. and Sinking Fund $ 24, 849. 96 Reserve Fund 3,890900 Emergency Fund 19 100. 00 Time Warrant Fund 52100. 00 General Fund�Net 44, 946. 95 7% 886. 91 Due from Go O• Bond Fund 19820. 83 Accounts Recei.vable�Net Adjusted Increase 84, 71 Payroll Fund Account 36. 07 Total Disbursements 1452 755. 72 BALANCE, August 31, 1973 Utility Fund�Cash, Regular $ 5, ?12. 98 Utility Fund�Savings Accounts 162803. 33 Utility Fund=Certificates of Deposit 30, 500. 00 TRA Fund 200000 $ 53, 216. 31 12 CITY OF SANDER, TEXAS UTILITY BOND CONSTRUCTION FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1973 BALANCE, September 1, 1972 RECEIPTS Bond Proceeds Accrued Interest on Bonds Sold Total Receipts TOTAL AVAILABLE DISBURSEMENTS Finance Fee on Bonds Sold Water Tower Improvements Electric System Improvements Due from Utility Fund Total Disbursements BALANCE, August 31, 1973 Certificate of Deposit $295, 000. 00 3, 315. 28 8, 243. 84 122 468. 37 6, 659. 32 $ None 298, 315. 28 $298, 315. 28 33, 315. 28 $265, 000. 00 13 CITY OF SANGER, TEXAS REVENUE BOND INTEREST AND SINKING FUNDS STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1973 Time Wt. Fund BALANCE September 1, 1972 Cash 2,259o84 RECEIPTS Transfers from° General Fd. Revenue Fd. Int. Received Total TOTAL AVAILABLE DISBURSEMENTS Time Wts. Paid Bonds Paid Interest Paid Paying Agents Fee Total BALANCE, August 311q 1973 Cash --- Savings Acct, $1, 057. 30 5, 100. 00 189. 62 $6, 346992 $8, 606. 76 $4, 000. 00 1, 17.3.41 Int. & Skg. Fund Reserve Fund Emergency Fund Total 6, 483. 32 7, 536. Ol 3, 275. 73 19, 554. 90 249849. 96 418. 23 $259 268. 19 $31, 751. 51 109 000. 00 8, 775. 00 792. 50 0 3, 890. 00 391. 58 $ 4, 281. 58 $11, 817. 59 ®oo 1, 100. 00 168. 20 $1, 268. 20 349939. 96 1, 167. 63 $ 37, 164. 89 $4, 543. 93 $ 56, 719. 79 10, 000. 00 9, 948. 41 17. 50 $ 23, 965. 91 CITY OF SANDER, TEXAS GENERAL OBLIGATION BOND FUND BALANCE SHEET August 31, 1973 Certificate of Deposit LIABILITIES AND FUND B A L A N C E DUE TO UTILITY FUND FUND BALANCE Appropriated for Fire Fighting Equipment $ 19, 200. 00 Appropriated for Municipal Buildings 29, 979. 17 TOTAL LIABILITIES AND FUND BALANCE STATEMENT OF RECEIPTS AND DISBURSEMENT'S Year Ended August 31, 1973 RECEIPTS Bond Proceed Due to Utility Fund Accrued Interest on Bonds 11 Total Receipts TOTAL A17'AILABLE DISBURSEMENTS Finance Fee on Bonds Sold BALANCE, August 31, 1973 Certificate of Deposit. $ 50, 000. 00 1, 820. 83 179. 17 $ 502 000. 00 48, 179. 17 $ 50, 000. 00 $ None 52, 000. 00 $ 52, 000. 00 2, 000. 00 $ 50, 000. 00 15 CITY OF SANGER, TEXAS REVENUE SHARING FUND BALANCE SHEET August 31, 1973 SAVINGS ACCOUNT POLICE A UTOMOBILE $ 5, 950. 78 3, 149. 50 TOTAL ASSETS FUND BALANCE $ 9, 100. 28 STATEMENT OF RECEIPTS AND DISBURSEMENTS Year Ended August 31, 1973 - CASH BALANCE, September 1, 1972 $ None RECEIPTS Received from Revenue Sharing $ 8, 977. 89 Interest Earned 122. 39 99 100. 28 TOTAL AVAILABLE $ % 100. 28 DISBURSEMENTS Purchase of Police Automobile 3, 149. 50 CASH BALANCE, August 31, 1973 It 5, 950. 78 16 CASH CITY OF SANGER, TEXAS PAYROLL FUND BALANCE SHEET August 31, 1973 L 1. A B I L I T I E S AND S U R P L U S CURRENT LIABILITIES Insurance Payable Payroll, Taxes Payable INTERFUND ACCOUNTS General Fund Utility Fund TOTAL LIABILl.TIES AND SURPLUS � 119. 40 1, 97le 52 $ 426. 84 563. 32 $ 39 291. 98 990. 16 17 CITY OF SANGER, TEXAS SEWER TREATMENT PLANT CONSTRUCTION FUND BALANCE SHEET August 31, 1973 CASN LN BANK L I A B Z L Z T I E S AND A P P R O P R I A T I O N FUND BALANCE $ 19. 30 NOTE: This project has been completed and transferred to Utility Fund. CITY OF SANGER, TEXAS SEWER TREATMENT PLANT CONSTRi7CT1.ON FUND STATEMENT OF RECEIPTS AND DISBURSEMENTS From Origin of Project through Completion CASH BALANCE, September 119 19Z1 RECEIPTS U. S. Grant�WPC�TEX=661, (approved Total $79, 750. 00) Transfer from Utility Fund T. R.A. Contract (Compact Agreement): Total T. R. A. Bonds, Issued Total Receipts Sewage Treatment Plant Contract Engi.neeri.ng Fees Administrative Expense TRA Transfer to Utility Fund BALANCE, August 31, 1973 Cash $ 76, 910. 00 30, 000, 00 45, 000. 00 $127, 541, 79 13, .3489 91 7, 000. 00 4, 000, 00 151, 910. 00 $151, 910. 00 151, 890. �0 19 CYTY OF BANGER, TEXAS UI1 1,11 RATES August 31, 1973 WATER RATES Within City Limits* First 3, 000 gallons (Minimum) $49 00 Next 10, 000 gallons (per 1000 gallons) . 60 Over 13, 000 gallons (per 1000 gallons) , 50 Outside City Limits e First 3, 000 gallons (minimum) $69 00 Over 3, 000 gallons (per 1000 gallons) a 80 SEWER RATES Residential Flat Rate $2< 25 Commercial Flat Rate 3, 50 NUMBER OF CONNECTIONS Water 755 Sewer 680 Electric 867 Gallons of wafer pumped year ended August 31, 197.3 0 65, 384, 821 "r_,T17 CITY OF SANGER, TEXAS AD VALOREM TAX INFORMATION Year Ended August 31, 1973 Tax Assessed Tax Tax Current Total Year Value Rate Levy Collections Percent Collections Percent 1963 $ 711, 094 $00 90 $ 6, 399. 87 $ 5, 947. 92 920 9410 $ 6, 353, 79 99. 28 o 1964 7382 214 , 90 62 643, 93 61 160. 22 92, 72% 62 0209 72 909 62 o 1965 788, 461 , 90 71 096. 15 6, 647. 18 93, 67 o 7, 404, 83 1049 35 o 1966 834, 175 ® 90 7, 507, 58 61 837, 52 919 07 o 7, 9719 54 106. 1816 1967 885, 764 0 90 7, 971, 88 7, 250, 68 909 95% 81 271, 62 103, 76 o 1968 964, 517 . 90 8, 680, 68 7, 875. 09 90, 72 o 9, 411, 04 108, 41 o 1969 1, 0059 047 a 90 9, 042* 93 8, 341> 92 920 24 o 81 600, 46 95. 11 o 1970 19 061, 557 0 90 % 4749 05 81 819, 71 93. 09 o % 294, 19 98. 01 o 1971 3, 768, 411 , 60 22, 606> 61 202 418, 81 90. 32% 212 509. 49 959 15 o 1972 4, 029, 693 . 60 242 165a 38 22, 760, 67 94. 19% 23, 938. 17 99. 06 o Note: 1973 Assessed V'aluataon on; Real Esf.ate $3, 776. 959 Personal Propertv _ 794, 331 $4, 571, 340, 00 1973 Tax Levy $ 27, 4289 00 1973 Tax Rate $0, 60 COMPARATIVE UT:VL,I'�'Y CTROSS 1tEVENUE Total Water Revenues Sewer Revenues 1964 $ 23, 907. 23 $ 18, 0690 73 $ 5, 837a 50 1965 23, 479a 90 17, 5650 14 5, 914. 76 1966 26, 4759 93 20, 264, 93 6, 2110 00 1967, 289 6439 70 222 202, 70 6, 441, 00 1968 28, 646< 52 21, 893e 52 6, 753, 00 1969 329, 378, 43 22, 945> 64 % 432. 79 1970 40, 630a 86 23, 631, 31 162 999. 55 1971 48, 090994 30, 206a 20 17, 884, 74 1972 659 817. 09 47, 4360 12 18, 380, 97 1973 709 109, 30 50, 647> 45 190 461, 85 21 CITY OF SANDER, TEXAS SCHEDULE OF BONDED DEBT August 31, 1973 Original. Balance Dated Amount 9�1®72 Issued General Obl.igation Bonds Gen.Oblig. Ser. 1973 7�1m73 $ 50, 000. 00 $ ®om $ 50, 000. 00 Time Warrants 2®29�72 200 DDO, 00 20, 000. 00 ®0- Sub�Total $ 201000. 00 $ 50, 000. 00 Revenue Bonds Utility Rev. Bonds 11®15�69 150, 000. 00 130, 000. 00 -0m Utility Sys. Rev. Bds. 5�15®73 2959000. 00 295, 000. 00 Sub®Total $1302000. 00 $295, 000. 00 Grand Total $150, 000. 00 $345, 000. 00 Note 1, In addition to the above debt the City has Electric Light and Power System Revenue Bonds, dated April. 1, 1954 which have been assumed in full by the Texas Power & Light: Company in consideration for sal.e by the City of its system in Valley View Community, Note 2. In addition the City ? s obligated under contract with Trinity River Authority to pay amounts sufficient to retire $45, 000 in T R.A. bonds issued as signatory to State Water Fbl.lution Cbntrol Compact. These payments, due ,lanuary and July 25th, are treated as operating expenses and include amounts sufficient for reserve funds and for T. R.A. administrative expenses. 22 Retired Balance 8-31m73 50, 000. 00 4, 000. 00 16, 000. 00 $ 4, 000. 00 $ 66, 000. 00 $ lo, 000, oo $120, 000, o0 -o- 295, 000. 00 $ 10, 000. 00 $415, 000. 00 $ 14, 000. 00 $481, 000. 00 Interest Rate Maturities 5-3/8jo 5M-7/1/74�83 5-1/2oro 4M-3/1/74-77 6-3/4afo lOM-5/15/74-85 Sal/2% 5M-5/15/74-80; lOM-81; 5-3/4°jo lOM-82/85; 25M-86/87; 5-7/810 25M-88; 30M-89/90; 35M-91/92; 5M-93. 23 CITY OF SAIVOER, TEXAS Company Westchester Fire Insurance Co. American States Znsurance Co, American States Znsurance Co. Commerc�.al Standard Zns. Co. American States Znsta�°ance Co. Western Surety Bond Co. Commercial Standard Z.ns. Co. Westchester Fire Znsurance Co, St. Paul Znsurance Co, ZNSIJRANCE ZN FORCE August 31, 1973 Pola.cy Policy Period Number From To R�8276.31 2-13-71 2G13-74 AF �447 -494 12 0 2$ e 72 12 = 28 e 75 AF-739�645 2'9-73 2�9�74 31013fi390 1�1�73 1�1�74 542380080 11�19�72 11�19-7.3 420F'F'32660 9-11�72 9-11�73 430134Z,44 1�1�73 I�1�74 R�:323507 1-2=73 1�2�76 'UF"F�42TA1429 1�19�7:3 1-19-74 24 Coverage City Hall &Post Office Fire & EC; Vandalism & M. M. Contents of City Office Fire & EC Fire and EC on following: Elec. Lght. & Water Pump Plant Contents of. Above Frame Cooling Tower 12M gal. steel fuel oil storage Fire and E. C. Warehouse 101 Cherry St. Contents of ,above Standard Workmen;; Comp. Automobiles Fleet Polcy�All City Be a. P. D, Comprehensive�ACV $100 Ded. Collision Surety Band General Liabi.l�ty B. 1, P. D. MediIc:al Fire & Extended Coverage Water Tower Volunteer Fire Dept., (*) Advance Premium, Liability Coins. Limits 80°/0 $ 409 000a 00 5, 000. 00 80°jo 22, 500. 00 80°jo 1759 000. 00 39000000 90% 6, 000. 00 VehicT.es 80% 1, 000. 00 4, 000. 00 50/100M 5Iv1 10, u00. OU 300M 2 51vI 36, 000. 00 Premium $ 96. 00 27. 00 1, 019. 00 337> 00 273. 75 25