HomeMy WebLinkAboutFY 1980 Financial Statementsadn Statistical Information - AuditCONTENTS
INTRODUCTORY SECTION
Letter of transmittal
Report of certified public accountants
FINANCIAL SECTION
Exhibit Combined statements - overview (Liftable general
purpose financial statements) Page
A Combined balance sheet - all fund types and
account groups 1-2
A-1 Combined statement of revenues,
expenditures and changes in fund balances -
All Governmental Fund Types 3-4
A-2 Statement of revenues, expenses and changes
in retained earnings - All proprietary fund
types - Water and Sewer Enterprise Fund 5
A-3 Statement of revenues, expenditures and
changes in fund balance - All expendable
trust fund types - Insurance Fund 6
A-4 Statement of changes in financial
position - All proprietary fund types -
Water and Sewer Enterprise Fund 7-8
A-5 Statement of revenue - budget and actual -
Governmental fund types - General Fund 9-10
A-6 Statement of expenditures - budget and
actual - Governmental fund types -
General Fund 11-14
A-7 Notes to financial statements - all
funds and accounts 15-26
Combining and individual funds financial statements
B-1 Combining balance sheet -
Capital Projects Funds 27
B-2 Combining statement of revenue,
expenditures and changes in fund
balances - Capital Projects Funds 28
C-1 Comparative balance sheet - Water
and Sewer Enterprise Fund 29
C-2 Comparative schedule of operating expenses -
Water and Sewer Enterprise Fund 30
D-1 Combining balance sheet
Trust and Agency Funds 31
D-2 Combining statement of changes in assets
and liabilities - All Agency Funds 32-33
CONTENTS
(Continued)
Table STATISTICAL SECTION Page
1 Property tax levies and collections 34
2 Property tax rates 35
3 Ratio of net general bonded debt to assessed
value and net bonded debt per capita 36
4 Computation of direct and overlapping debt 37
5 General governmental expenditures by function 38
6 General revenue by source 39
7 Ratio of annual debt service expenditures for
general bonded debt to total general
expenditures 40
8 Water and sewer revenue bond coverage 41
9 Debt service requirements to maturity -
general obligation bonds 42
10 Debt service requirements to maturity -
Water and Sewer Revenue Bonds 43
11 Assessed and estimated actual value of
taxable property 44
12 Miscellaneous statistical facts 45-46
PHONE (817) 283-5381 • 201 N. ECTOR DRIVE • EULESS, TEXAS 76039
rithf cie
Ilk dm. Ute/S/S wr
Mr. W. M. Sustaire
City Manager
City of Euless
Euless, Texas 76039
Dear Mr. Sustaire:
The Annual Financial Report of the City of Euless, Texas,
for the fiscal year ended September 30, 1980, is submitted herewith.
Accounting System and Reports
The City's accounting records for general governmental
operations are maintained on a modified accrual basis, with the most
important revenue being recorded when earned and expenditures being
recorded when incurred. Accounting records for the City's Water and
Sewer Enterprise Fund are maintained on a full accrual basis.
Budgetary control is maintained under an annual budget.
General Governmental Functions
Revenue for general governmental functions totaled
$3,558,710 in 1980, an increase of 10.15 percent over 1979.
General property taxes produced 47.32 percent of general revenue
compared to 52.43 percent last year. The amount of revenue from
various sources and the changes over last year are shown in the
following tabulation:
Revenue source
General property taxes
Gross receipts taxes
General sales taxes
Licenses and permits
Fines and fees
Other revenue
Intergovernmental
Increase
Percent (decrease)
Amount of total from 1979
$1,683,956
439,900
639,795
119,383
210,772
338,233
126,671
47.32 $ (9,896)
12.36 6,296
17.99 118,315
3.35 42,052
5.92 59,692
9.50 114,295
3.56 (2,845)
$3,558,710 100.00 $327,909
EULESS MY C1.1O10E, SOUR OPPORTUNITY
In addition to the above general revenue, $200,000 was
transferred from the Water and Sewer Enterprise Fund to the General
Fund.
Included in the general governmental revenue
is $126,671 received from Federal and State grants. These
funds were applicable generally to law enforcement and parks
and recreation programs.
Expenditures for general governmental purposes totaled
$3,858,901 an increase of 17.87 percent over 1979. Changes in
levels of expenditure for major functions of the City over the pre-
ceding year are shown in the following tabulation:
Function
General government
Public safety
Streets
Library
Parks and recreation
Bonded debt retirement
Bonded debt interest and fees
Other
Amount
$ 680,381
1,539,987
266,714
149,050
396,683
140,000
290,350
395,736
$3,858,901
Cash Management
Percent
of total
17.63
39.91
6.91
3.86
10.28
3.63
7.52
10.26
100.00
Increase
(decrease)
from 1979
$133,631
212,156
10,565
28,007
64,680
30,000
60,663
45,261
$584,963
The City maintains cash accounts on a consolidated basis
for investment purposes. These short-term investments consist
of certificates of deposit and government securities which are
stated at cost. The interest income was recognized by the appro-
priate fund.
General Fixed Assets
The general fixed assets of the City are those fixed
assets used in the performance of general governmental functions
and exclude the fixed assets of the Water and Sewer Enterprise
Fund. As of September 30, 1980, the general fixed assets of the
City amounted to $11,523,028, This amount represents the original
cost of the assets and is considerably less than their replacement
value. Depreciation of general fixed assets is not recognized in
the City accounting system.
Water and Sewer System
The City's water and sewer utility had a successful year
and continued to show gains in gross sales, number of customers
and debt service coverage. Comparative data for the past two
fiscal years are presented in the following tabulation:
Net income
Add (deduct):
Amortization of capitalized water
and sewer facility contract rights
Depreciation
Interest on revenue bonds
Transfers to General Fund
Principal portion of payments on water
and sewer facility contracts
Net revenue available for debt service
Average annual debt service
Coverage
1980
$ 411,017
132,334
270,257
188,850
200,000
(132,973)
$1,069,485
$ 250,345
1979
(restated)
$ 257,341
124,499
245,153
194,841
200,000
(119,248)
a 902,586
$ 253,415
4.27 times 3.56 times
During the year, $140,000 of regularly maturing revenue
bonds were retired in the Water and Sewer Enterprise Fund.
All reserve and accounting requirements have been met in
accordance with the ordinances authorizing the issuance of the City's
Water and Sewer Revenue Bonds.
Independent Audit
The City Charter requires an annual audit to be made of
the books of account, financial records, and transactions of all
administrative departments of the City by a certified public
accounting firm selected by the City Council. This requirement
has been complied with and the auditor's opinion has been included
in this report.
Acknowledgments
The preparation of this report on a timely basis could
not be accomplished without the efficient and dedicated services
of the entire staff of the Finance Department. I should like to
express my appreciation to all members of the Department who
assisted and contributed to its preparation. I should also like to
thank your office and the members of the City Council for their
interest and support in planning and conducting the financial
operations of the City in a responsible and progressive manner.
Respectfully submitted,
viJames R. Hickerson
Director of Finance
Cs�
The Honorable Mayor and
City Council
City of Euless, Texas
ARTI-IUR YOUNG & COMPANY
2200 FORT WORTH NATIONAL BANK BLDG.
FORT WORTH, TEXAS 76102
We have examined the combined financial statements of the
City of Euless, Texas, at September 30, 1980, and for the year
then ended, listed in the foregoing table of contents under the
caption "Financial Section." Our examination was made in accord-
ance with generally accepted auditing standards and, accordingly,
included such tests of the accounting records and such other
auditing procedures as we considered necessary in the circum-
stances.
In our opinion, the combined financial statements referred to
above present fairly the financial position of the City of
Euless, Texas, at September 30, 1980, and the results of its
operations and the changes in financial position of the Water and
Sewer Enterprise Fund for the year then ended, in conformity with
generally accepted accounting principles applied on a basis
consistent with that of the preceding year after giving retro-
active effect to the change, with which we concur, in the method
of accounting for unbilled water and sewer revenue as described
in Note 6 to the financial statements.
0ur examination was made for the purpose of expressing an opinion
on the combined financial statements, taken as a whole. The com-
bining and individual fund financial statements and statistical
information listed in the table of contents are presented for
purposes of additional analysis and are not a required part of
n
the combined financial statements. Such information, except for
the portion marked "unaudited" on which we express no opinion,
has been subjected to the auditing procedures applied in the
examination of the combined financial statements and, in our
opinion, is fairly stated in all material respects in relation to
the combined financial statements taken as a whole.
7°-r-w-, ‘"74?-v17
November 4, 1980
1
EXHIBIT A
CITY OF EULESS, TEXAS
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
September 30, 1980
ASSETS AND
OTHER DEBITS
Cash and short-term
investments
Receivables:
Delinquent taxes, net of
allowance for doubtful
collections of $126,826
Assessments
Accounts receivable, net
Unbilled water and sewer
revenue
From other funds
Due from other governments
Inventory
Restricted assets (Notes 2,
3 and 4)
General fixed assets (Note 7)
Net utility plant in
service (Note 7)
Capitalized water and sewer
facility contract rights
less accumulated amorti-
zation of $664,607 (Note 5)
Amount available for
retirement of general
long-term debt
Amount to be provided for
retirement of general
long-term debt
Governmental fund types
Debt
General Service
Fund Fund
Capital Special
Projects Revenue
Funds Fund
Fiduciary
fund types
Trust
and
Agency
Funds
$647,269 $134,653 $ 993,690 $29,188 $178,505
63,043
154,735
66,814
14,609
2,686
23,686
17,253
88,872
142,424
$949,156 $175,592 $1,224,986 $29,188 $178,505
Propriety
fund types
Water and
Sewer
Enterprise
Fund
$ 803,741 $
277,539
148,967
1,702,782
8,444,591
5,952,072
Account groups
General
fixed
assets
11,523,028
General
long-term
debt
Total
(memorandum
only)
- $ 2,787,046
156,522
86,729
88,872
449,527
148,967
66,814
157,033
2,686
1,702,782
11,523,028
8,444,591
5,952,072
156,522
5,213,478 5,213,478
$17,329,692 $11,523,028 $5,370,000 $36,780,147
2
EXHIBIT A
CITY OF EULESS, TEXAS
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
September 30, 1980
(Continued)
LIABILITIES, DEFERRED
REVENUE AND FUND EQUITY
Liabilities:
Accounts payable
Deposits
Accrued interest
Due to other funds
Obligations under
water and sewer
facility contracts
(Note 5)
Bonds payable (Note 3)
Deferred revenue
Total liabilities
Fund equity:
Investment in general
fixed assets
Contributions
Fund balance:
Reserve for recreation
equipment
Reserve for inventory
Reserve for self -
insured losses
and premiums
Unreserved
Retained earnings:
Reserved (Note 3)
Unreserved
Total fund equity
Governmental fund types
Debt Capital Special
General Service Projects Revenue
Fund Fund Funds Fund
$ 30,069 $
5,871
$
Fiduciary
fund types
Trust
and
Agency
Funds
- $ - $ 95,222
67,896
60,943
49,099 13,199 116,669
79,168 19,070 177,612
9,039
2,686
- 163,118
858,263 156,522 1,047,374 29,188
869,988 156,522 1,047,374 29,188
15,387
15,387
$949,156 $175,592 $1,224,986 $29,188 $178,505
See notes to financial statements, Exhibit A-7.
Propriety
fund types
Water and
Sewer
Enterprise
Fund
$ 1,972 $
159,219
38,774
6,149,131
3,955,000
205,273
10,509,369
Account groups
General
fixed
assets
General
long-term
debt
Total
(memorandum
only)
- $ 127,263
227,115
38,774
66,814
5,370,000
- 5,370,000
- 11,523,028
3,706,380
877,336
2,236,607
6,820,323 11,523,028
$17,329,692 $11,523,028
6,149,131
9,325,000
384,240
16,318,337
- 11,523,028
3,706,380
$5,370,000
9,039
2,686
15,387
2,091,347
877,336
2,236,607
20,461,810
$36,780,147
3
EXHIBIT A-1
CITY OF EULESS, TEXAS
ALL GENERAL GOVERNMENTAL FUND TYPES
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
Year ended September 30, 1980
Revenue:
General property
taxes
Gross receipts taxes
General sales taxes
Licenses and permits
Fines and fees
Interest income
Other revenue
Federal Revenue
Sharing and other
grants
Paving assessments
Total revenue
Expenditures:
City Council
General Government
Civil Service
Service Center
Police Department
Legal and corporation
court
Fire Department
Street Department
Traffic and safety
Building and zoning
Library
Recreation Department
Park Department
Pools
General
Fund
$1,333,410
439,900
639,795
119,383
210,772
267,776
70,457
126,671
3,208,164
12,898
115,165
19,235
264,680
930,398
79,714
571,209
266,714
38,380
118,018
149,050
110,750
237,970
47,963
Governmental fund type
Debt Capital Special
Service Projects Revenue
Fund Funds Fund
$350,546 $ - $
350,546
8,284
282,880
57,348
348,512
29,721
29,721
Total
(memorandum
only)
$1,683,956
439,900
639,795
119,383
210,772
276,060
100,178
409,551
57,348
3,936,943
12,898
115,165
19,235
264,680
930,398
79,714
571,209
266,714
38,380
118,018
149,050
110,750
237,970
47,963
4
EXHIBIT A-1
CITY OF EULESS, TEXAS
ALL GENERAL GOVERNMENTAL FUND TYPES
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
Year ended September 30, 1980
(Continued)
Governmental fund type
Debt Capital Special Total
General Service Projects Revenue (memorandum
Fund Fund Funds Fund only)
Expenditures:
(continued)
Civic Center $ 70,671 $ - $ - $ - $ 70,671
Nondepartmental 395,736 533 396,269
Interest on bonds 289,638 289,638
Matured bonds 140,000 140,000
Service charges 712 16,446 17,158
Capital outlay 660,675 660,675
Total expenditures 3,428,551 430,350 677,121 533 4,536,555
Other financing sources
(uses):
Transfers from (to)
other funds 200,000 200,000
Excess of total
revenue and other
sources over (under)
total expenditures
and other uses
Decrease in inven-
tory reserve
Unreserved fund
balances, beginning
of year
Unreserved fund bal-
ances, end of year
(20,387) (79,804) (328,609) 29,188 (399,612)
3,023 - - - 3,023
875,627 236,326 1,375,983 2,487,936
$ 858,263 $156,522 $1,047,374 $29,188 $2,091,347
See notes to financial statements, Exhibit A-7.
CITY OF EULESS, TEXAS
ALL PROPRIETARY FUND TYPES
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS
Year ended September 30, 1980
Operating revenue:
Water sales
Sewer services
Water and sewer tap fees
Service fees and miscellaneous
Operating expenses excluding depreciation
and amortization
Operating income excluding deprecia-
tion and amortization
Amortization of capitalized water and sewer
facility contract rights (Note 5)
Depreciation
Income from operations
Other revenue - investment income
Other expenses:
Interest on revenue bonds
Interest on water and sewer facility
contract rights
Income before operating transfers
Transfers to general fund
Net income
$132,334
270,257
188,850
368,907
5
EXHIBIT A-2
$1,706,819
1,049,315
25,129
64,666
2,845,929
1,421,698
1,424,231
402,591
1,021,640
147,134
557,757
611,017
200,000
411,017
Unappropriated retained earnings, beginning
of year, as previously reported 1,699,519
Add unbilled water and sewer revenues (Note 6) 126,071
Unappropriated retained earnings, as restated 1,825,590
Unappropriated retained earnings, end of year $2,236,607
See notes to financial statements, Exhibit A-7.
CITY OF EULESS, TEXAS
ALL EXPENDABLE TRUST FUND TYPES
INSURANCE FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
Year ended September 30, 1980
Revenue:
Received from other funds
Expenditure:
General administrative
Excess revenue over expenditure
Fund balance:
Reserve for self-insurance losses and
insurance premiums, beginning of year
6
EXHIBIT A-3
$60,000
44,613
15,387
Reserve for self-insurance losses and
insurance premiums, end of year $15,387
See notes to financial statements, Exhibit A-7.
CITY OF EULESS, TEXAS
ALL PROPRIETARY FUND TYPES
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended September 30, 1980
Funds provided:
Operations:
Net income
Expenses not requiring current outlay
of funds:
Depreciation and amortization, net
Total funds provided by operations
Contributions in aid to construction
Obligations incurred under capitalized
water and sewer facility rights (Note 5)
Total funds provided
Funds used:
Reduction in obligations under capitalized
water and sewer facility contract rights
(Note 5)
Additions to utility plant in service, net
Retirement of revenue bonds
Increase in restricted assets
Additions to capitalized water and sewer
facility contract right
Total funds used
Increase in working capital
7
EXHIBIT A-4
$ 411,017
394,791
805,808
973,726
391,816
2,171,350
142,747
1,043,976
145,000
302,792
391,816
2,026,331
$ 145,019
CITY OF EULESS, TEXAS
ALL PROPRIETARY FUND TYPES
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended September 30, 1980
(Continued)
Changes in components of working capital:
Increase (decrease) in current assets:
Cash and short-term investments
Accounts receivable
Unbilled water and sewer revenue
Accrued interest receivable
Accounts receivable - other
Increase (decrease) in current liabilities:
Current portion of revenue bonds
Current portion of obligations under
capitalized water and sewer facility
contract rights
Accounts payable
Customer deposits
Accrued revenue bond interest payable
Increase in working capital
8
EXHIBIT A-4
$ 33,084
93,451
22,896
(5,224)
(19,000)
125,207
5,000
9,774
(52,596)
19,355
(1,345)
(19,812)
$ 145,019
See notes to financial statements, Exhibit A-7.
9
EXHIBIT A-5
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF REVENUE - BUDGET AND ACTUAL
Year ended September 30, 1980
General property taxes collected:
Current taxes
Penalty and interest
Gross receipts taxes:
Southwestern Bell
Telephone Company
Texas Power and Light Company
Lone Star Gas Company
Tarrant County Waste Disposal
Mixed beverage
Metroplex Cab Company
General sales tax
Licenses and permits:
Building permits
Plumbing permits
Electric permits
Heating and air conditioning
permits
Street inspections
Miscellaneous permits
Electric license exams
Fines and fees:
Corporation court fines
Dog pound fees
Estimated
revenue
$1,680,503
30,000
1,710,503
Actual
revenue
$1,309,324
24,086
1,333,410
105,000 104,941
250,000 224,487
75,000 69,929
9,500 11,677
25,000 28,616
250 250
464,750 439,900
Actual
over
(under)
$(371,179)
(5,914)
(377,093)
(59)
(25,513)
(5,071)
2,177
3,616
(24,850)
450,000 639,795 189,795
15,000 68,916 53,916
5,250 6,435 1,185
2,750 5,320 2,570
2,500 3,055 555
15,000 22,005 7,005
2,300 7,137 4,837
4,500 6,515 2,015
47,300 119,383 72,083
150,000 205,496 55,496
4,000 5,276 1,276
154,000 210,772 56,772
10
EXHIBIT A-5
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF REVENUE - BUDGET AND ACTUAL
Year ended September 30, 1980
(Continued)
Interest income
Intergovernmental
Other revenue:
Library receipts
Tarrant County Library
contributions
Tarrant County fire assistance
Rental income
Miscellaneous income
Texas Court cost service fee
Swimming pools
Total revenue
Estimated
revenue
$ 90,000
2,000
6,027
3,000
10,000
8,500
1,000
25,000
55,527
$2,972,080
Actual
revenue
$ 267,776
126,671
5,490
6,510
20,457
17,435
1,197
19,368
70,457
$3,208,164
Actual
over
(under)
$ 177,776
126,671
3,490
483
(3,000)
10,457
8,935
197
(5,632)
14,930
$ 236,084
See notes to financial statements, Exhibit A-7.
11
EXHIBIT A-6
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1980
Actual
over
Budget Expenditures (under)
City Council:
Supplies $ 5,500 $ 4,520 $ (980)
Other services and charges 8,000 8,378 378
13,500 12,898 (602)
General Government:
Personnel services 115,609 96,694 (18,915)
Maintenance 1,200 774 (426)
Other services and charges 21,300 16,719 (4,581)
Capital outlays and repairs and
maintenance 1,000 978 (22)
139,109 115,165 (23,944)
Civil Service:
Personnel services 16,539 17,584 1,045
Supplies 500 129 (371)
Other services and charges 1,950 1,522 (428)
18,989 19,235 246
Service Center:
Personnel services 124,022 115,753 (8,269)
Supplies 104,100 114,254 10,154
Maintenance 30,800 34,577 3,777
Other services and charges 5,350 96 (5,254)
Capital outlays 1,500 (1,500)
265,772 264,680 (1,092)
Law Enforcement:
Police Department:
Personnel services 895,217 839,895 (55,322)
Supplies 28,900 28,699 (201)
Maintenance 7,300 9,613 2,313
Other services and charges 30,560 26,176 (4,384)
Capital outlays 32,470 26,015 (6,455)
994,447 930,398 (64,049)
12
EXHIBIT A-6
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1980
(Continued)
Actual
over
Budget Expenditures (under)
Law Enforcement: (continued)
Legal and Corporation Court:
Personnel services $ 57,502 $ 54,630 $ (2,872)
Supplies 1,500 1,993 493
Maintenance 750 324 (426)
Other services and charges 23,255 22,767 (488)
Capital outlays 250 (250)
83,257 79,714 (3,543)
Total Law Enforcement 1,077,704 1,010,112 (67,592)
Fire Department:
Personnel services 561,635 529,866 (31,769)
Supplies 23,000 19,052 (3,948)
Maintenance 15,800 12,064 (3,736)
Other services and charges 6,400 4,867 (1,533)
Capital outlay 6,000 5,360 (640)
612,835 571,209 (41,626)
Street Department:
Personnel services 187,490 168,290 (19,200)
Supplies 10,674 16,396 5,722
Maintenance 93,540 81,339 (12,201)
Other services and charges 3,775 689 (3,086)
295,479 266,714 (28,765)
Traffic Safety Administration:
Personnel services 30,479 12,637 (17,842)
Supplies 1,800 1,288 (512)
Maintenance 39,450 23,769 (15,681)
Other services and charges 2,200 686 (1,514)
73,929 38,380 (35,549)
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1980
(Continued)
Building and Zoning Department:
Personnel services
Supplies
Maintenance
Other services and charges
Library:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Recreation Department:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Park Department:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Budget Expenditures
$ 93,674
1,175
200
10,750
105,799
113,446
2,850
1,400
20,474
22,500
160,670
85,456
10,250
1,100
20,800
5,810
123,416
189,357
19,800
18,100
11,190
14,320
252,767
$ 105,807
595
308
11,308
118,018
110,447
4,012
1,087
9,429
24,075
149,050
91,907
11,075
1,397
4,475
1,896
110,750
184,336
19,323
20,890
10,863
2,558
237,970
13
EXHIBIT A-6
Actual
over
(under)
$ 12,133
(580)
108
558
12,219
(2,999)
1,162
(313)
(11,045)
1,575
(11,620)
6,451
825
297
(16,325)
(3,914)
(12,666)
(5,021)
(477)
2,790
(327)
(11,762)
(14,797)
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1980
(Continued)
Pools:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Civic Center:
Personnel services
Supplies
Maintenance
Capital outlays
Other services and charges
Nondepartmental:
Personnel services
Supplies
Other services and charges
Total all departments
Budget
$ 35,640
7,300
9,500
675
4,080
57,195
30,145
6,450
11,550
2,250
20,000
70,395
5,000
11,000
596,113
612,113
$3,879,672
Expenditures
$ 35,512
7,911
3,810
422
308
47,963
27,224
6,246
13,164
2,209
21,828
70,671
820
10,537
384,379
395,736
$32428,551
14
EXHIBIT A-6
Actual
over
(under)
$ (128)
611
(5,690)
(253)
(3,772)
(9,232)
(2,921)
(204)
1,614
(41)
1,828
276
(4,180)
(463)
(211,734)
(216,377)
$(451,121)
See notes to financial statements, Exhibit A-7.
15
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
DESCRIPTION OF FUNDS
The City has established a number of funds, in
conformance with generally accepted accounting principles and
the recommendations of the National Council on Governmental
Accounting, for the purpose of accounting for transactions in
compliance with legal requirements. Funds and account groups
in use by the City in accounting for its financial activities
are as follows:
Governmental Funds
General Fund - to account for all of the general revenue of
the City not specifically levied or collected for other City
funds, and for expenditures related to rendering of general
services by the City.
Debt Service Fund - to account for the source and disposition
of funds for paying interest and principal on general obliga-
tion bonds.
Capital Projects Funds - to account for the source and disposi-
tion of funds for the acquisition of capital facilities other
than those recorded in the Enterprise Fund and those purchased
by other funds.
Special Revenue Fund - to account for special revenue sources
that are legally restricted to expenditures for specified pur-
poses.
16
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
1e SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Fiduciary Funds
Trust and Agency Funds - to account for assets received and
held by the City as trustee or agent for individuals, organi-
zations, and other funds within the City.
Proprietary Funds
Water and Sewer Enterprise Fund - to account for the acquisi-
tion, operation and maintenance of a municipal utility,
supported primarily by user charges to the public.
Account Groups
General Fixed Assets Accounts - to account for property and
equipment of the City other than that acquired and accounted
for in the Enterprise Fund.
General Long-term Debt Accounts - to account for the unmatured
principal of outstanding bonds, except those recorded in the
Enterprise Fund.
BASIS OF ACCOUNTING
The City uses the accrual basis of accounting for
the Water and Sewer Enterprise Fund whereby revenues are
recognized when earned and expenses recognized when incurred.
All governmental and expendable Trust Funds are
accounted for using the modified accrual basis.
17
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Under the modified accrual basis, revenues are recognized in
the year in which they become available and measurable and
expenditures in the period in which the liability is incurred,
except for unmatured interest on general long-term debt which
is recognized when due. On this basis, significant revenues
recognized as collected are licenses, permits, fines and
fees. General sales taxes are considered measurable and are
accrued when in the hands of the collecting agency.
Property taxes attach as an enforceable lien on
property as of January 1, are due October 1, and become
delinquent on February 1. Property taxes are accrued on
October 1 and are levied for appropriation in the fiscal year
beginning on October 1. Property taxes for cities are
limited by the Texas Constitution to $2.50 per $100 of
assessed valuation. The City's current tax rate is $.94 per
$100 of assessed valuation and assessed valuation is approxi-
mately 65% of estimated actual value.
The City's annual budget for the General Fund is
prepared on the same basis that the City maintains its
accounts.
INVESTMENTS
Investments are stated at cost which approximates
market value.
18
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment is recorded at cost
(or fair value, if contributed) when acquired. General fixed
assets are recorded as expenditures in the General Fund and
Capital Projects Funds at the time of purchase or construc-
tion and are capitalized in the General Fixed Assets Accounts.
Costs related to repairs and maintenance are not
capitalized. Significant renovations and improvements are
capitalized.
DEPRECIATION
No depreciation is recorded on general fixed assets.
Depreciation is recorded on each class of depreciable pro-
perty in the Water and Sewer Enterprise Fund utilizing the
straight-line method over the following estimated useful lives
of the assets:
Equipment 15 years
Water and sewer system 33-1/3 years
RETIREMENT PLAN - The City is a member of the Texas Municipal
Retirement System which covers all eligible full time employees.
The total pension expense for the year was approximately
$119,000 and $18,200 for the General Fund and Water and
19
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
1, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Sewer Enterprise Fund, respectively, which includes amortiza-
tion of prior service cost (including interest) over a 25-year
period. The City's policy is to fund all pension cost accrued.
EMPLOYEES' VACATION AND SICK LEAVE - Employees may accumulate a
maximum of 10 days of vacation. The City's policy is to pay
the employee for accumulated vacation upon termination.
Accrued vacation pay is insignificant and is not recorded by
the City. The City does not pay employees for accumulated
sick leave upon termination.
RESERVES - Certain assets that are not available spendable
resources of the City are offset by fund balance reserve
accounts.
TOTAL COLUMNS ON COMBINED STATEMENTS - Total columns on the
Combined Statements are captioned Memorandum Only to indicate
that they are presented only to facilitate financial analysis.
Data in these columns do not present financial position,
results of operations, or changes in financial position in
conformity with generally accepted accounting principles.
20
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Neither is such data comparable to a consolidation. Inter -
fund eliminations have not been made in the aggregation of
this data.
2. RESTRICTED ASSETS
Restricted assets consist of cash, investments and
receivables restricted primarily for Water and Sewer Enterprise
Fund debt service and water and sewer system replacements.
3. BONDS PAYABLE
Bonded debt outstanding at September 30, 1980, consists
of the following:
Range of
interest
rates
Unpaid
balance
@ 9-30-80
Cur rent
maturities
Long-term
maturities
General obli-
gation bonds 3.6 to 7.5% $5,370,000 $145,000 $5,225,000
Water and Sewer
Revenue Bonds 4.5 to 6% 3,955,000 145,000 3,810,000
$9,325,000 $290,000 $9,035,000
The bonds mature serially through the year 2006 and
have various call options whereby they may be redeemed during
certain periods prior to maturity. A schedule of bond maturi-
ties for the next five years is as follows:
21
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
3. BONDS PAYABLE (continued)
General lon
term debt
1981 $ 426,839
1982 428,485
1983 429,417
1984 449,938
1985 448,502
Thereafter 6,599,460
8,782,641
Less interest 3,412,641
Principal $5,370,000
g-
Water and Sewer
Revenue Bonds
$ 328,800
332,138
330,075
327,700
329,960
4,609,950
6,258,623
2,303,623
$3,955,000
Total
$ 755,639
760,623
759,492
777,638
778,462
11,209,410
15,041,264
5,716,264
$ 9,325,000
General obligation bonds authorized and unissued as of
September 30, 1980, amounted to $2,845,000.
Revenue Bonds authorized and unissued as of
amounted to $4,200,000.
Water and Sewer Revenue Bonds are
Water and Sewer
September 30, 1980,
payable solely from
and equally secured by a first lien on and pledge of the net
revenue of the City`s combined waterworks and sanitary sewer
system.
In accordance with the revenue bond ordinances, the
following special reserves were established:
Reserve for revenue bond debt service - to be used
for retirement of the current portion of principal and
interest payments due.
Reserve for revenue bond retirement
for payment of principal and interest on
time where there is not sufficient money
- to be used
bonds at any
available in
22
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
3. BONDS PAYABLE (continued)
the revenue bond debt service fund. No payments are
required into this fund after accumulating therein an
amount equal to the average annual principal and
interest requirements of the bonds outstanding.
Reserve for contingency - to be used for payment
of extraordinary repairs or replacements to the
system necessitated by an emergency for which no
other funds are available. Should the reserve for
bond debt service and/or reserve for bond retirement
prove deficient, the reserve for contingency shall
be used for the purpose of meeting principal and/or
interest requirements of the bonds.
All requirements for funding of the above reserves
were met at September 30, 1980.
Investments of funds included in the bond reserve and
contingency accounts are restricted to direct obligations of or
obligations unconditionally guaranteed by the United States of
America having maturities not in excess of ten and five years,
respectively.
4. PROPERTY SALE PROCEEDS ACCOUNTS
The City of Euless sold certain of the waterworks and
sewer system properties situated within the City of Bedford to
that city in 1968. The proceeds were equal to 32.33% of the
$5,800,000 of revenue bonds issued by Euless for the original
purchase of the combined system. The property sale proceeds
may be applied solely to the prepayment or prior redemption
of the revenue bonds and investment income of the funds may be
applied to current revenue bond interest in an amount not to
23
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
4. PROPERTY SALE PROCEEDS ACCOUNTS (continued)
exceed 32.33% of the requirement on the amount of bonds then
outstanding. As of September 30, 1980, $1,760,000 (30.34%) of
the revenue bonds have been retired with proceeds from the sale.
5. WATER AND SEWER FACILITY CONTRACT RIGHTS
Under the City's long-term contracts with the Trinity
River Authority of Texas (TRA) for sewer treatment services and
water supply, the City is obligated for the next 43 years to
share in the costs of operations, maintenance and debt service
of the Authority. The amounts under the contracts representing
debt service have been capitalized and the related obligation
recorded on the accompanying balance sheet.
The capitalized water and sewer facility contract
rights are being amortized on a straight-line basis over 50
years.
The City's share of the related TRA debt service is
adjusted each year based on the City's usage compared to that of
other users. The City's obligation is amortized based on its
current usage. The following is a schedule by years of
estimated future minimum requirements under the contracts (debt
24
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
5. WATER AND SEWER FACILITY CONTRACT RIGHTS (continued)
service portion) together with the present value of the net
minimum requirements as of September 30, 1980:
Year ending September 30:
1981
1982
1983
1984
1985
Thereafter
Less amount representing interest
$ 545,599
546,505
544,160
541,226
540,468
8,422,481
11,140,439
4,991,308
Present value of minimum requirements $ 6,149,131
Total payments under these contracts approximated
$1,145,000 in 1980
6. CHANGE IN ACCOUNTING PRINCIPLE AND RESTATEMENT
Effective October 1, 1979, the City changed its
accounting policy related to water and sewer revenue to accrue
for unbilled charges in compliance with Statement One issued
by the National Council on Governmental Accounting. The
financial statements of the prior year have been restated to
apply the change retroactively. The effect of the change to
accruing unbilled water and sewer changes was to increase
revenues and net income of the Water and Sewer Enterprise
25
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
6. CHANGE IN ACCOUNTING PRINCIPLE AND RESTATEMENT (continued)
Fund by $22,896 in 1980. The cumulative effect was to
increase retained earnings balance previously reported at
September 30, 1979 by $126,071.
7. FIXED ASSETS
The following is a summary of changes in general
fixed assets by source:
Balance, beginning
of year
Add:
Expenditures from
grants
Expenditures from
current revenue
Expenditures from
revenue sharing
Expenditures from
developers'
contributions
Total additions
Deduct:
Disposals of
fixed assets
Total deductions
Total
Land and
buildings
$ 9,286,300 $2,527,753
1,621
61,803
110,797
2,106,158
2,280,379
43,651
43,651
1,459
1,459
Balance, end of
year $11,523,028 $2,529,212
Improvements
other than
buildings
$5,563,872
19,753
2,106,158
2,125,911
$7,689,783
Machinery
and
equipment
$1,194,675
1,621
40,591
110,797
153,009
43,651
43,651
$1,304,033
26
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1980
7. FIXED ASSETS (continued)
The following is a summary of Water and Sewer Fund
utility plant in service at September 30, 1980:
Land $ 1,013,291
Equipment 168,993
Water and sewer system 9,632,427
Less accumulated depreciation
10,814,711
2,370,120
Net $ 8,444,591
27
EXHIBIT B-1
CITY OF EULESS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
September 30, 1980
Street
Improvement Park and Revenue Public
and Drainage Recreation Sharing Safety
ASSETS Total Fund Fund Fund Fund
Cash and short-term
investments
Due from revenue sharing
Assessments receivable
Other receivables
LIABILITIES, DEFERRED REVENUE
AND FUND BALANCES
Due to other funds
Deferred revenue:
Uncollected assessments
Prepaid paving assessment
Total deferred revenue
Fund balances
$ 993,690 $800,990 $ 27,162 $28,062 $137,476
60,327 60,327
88,872 88,872
82,097 82,097
$1,224,986 $889,862 $109,259 $88,389 $137,476
$ 60,943
88,872
27,797
$ - $ 60,943
88,872
27,797
116,669 116,669 - - -
1,047,374 773,193 48,316 88,389 137,476
$1,224,986 $889,862 $109,259 $88,389 $137 476,
CITY OF EULESS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCES
Year ended September 30, 1980
Total
28
EXHIBIT B-2
Street
Improvement Park and Revenue Public
and Drainage Recreation Sharing Safety
Fund Fund Fund Fund
Revenue:
Interest income $ 8,284 $ 6,778 $ 1,506 $ - $
Paving assessments 57,348 57,348
Federal Revenue Sharing 219,730 219,730
Other grants 63,150 63,150
348,512 64,126 64,656 219,730
Expenditures:
Capital outlay 660,675 237,801 230,033 192,841
Other 16,446 13,456 2,990
677,121 251,257 233,023 192,841
Excess (deficiency) of
revenue over expenditures (328,609) (187,131) (168,367) 26,889
Fund balances,
beginning of year 1,375,983 960,324 216,683 61,500 137,476
Fund balances,
end of year $1,047,374 $ 773,193 $ 48�316 $ 88,389 $137,476
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
COMPARATIVE BALANCE SHEET
September 30, 1980 and 1979
ASSETS
Current assets:
Cash and short-term investments
Accounts receivable, less allowance
for estimated uncollectable accounts
of $8,909 in 1980 and $7,983 in 1979
Unbilled water and sewer revenue
Accrued interest receivable
Accounts receivable - other
Total current assets
Restricted assets:
Revenue bond debt service:
Cash with paying agent
Revenue bond reserve:
Cash with paying agent
Investments with paying agent, at cost
Revenue bond contingency:
Cash and short-term investments
Property sale proceeds accounts:
Principal investments with paying
agent, at cost
Capital projects account:
Cash and short-term investments
Customer deposits:
Short-term investments
Interest receivable on investments
Total restricted assets
Utility plant in service, at cost:
Land
Equipment
Water and sewer system
Less allowance for depreciation
Net utility plant in service
Capitalized water and sewer facility
contract rights less accumulated
amortization of $664,607 and $532,273
in 1980 and 1979
1980
29
EXHIBIT C-1
1979
(Restated)
$ 803,741 $
250,624
148,967
26,915
1,230,247
770,657
157,173
126,071
32,139
19,000
1,105,040
79,388 79,388
8,447 8,447
266,213 266,213
100,000 100,000
423,288 423,288
660,844 377,406
159,219 139,864
5,383 5,384
1,702,782 1,399,990
1,013,291 1,013,291
168,993 151,532
9,632,427 8,605,912
10,814,711 9,770,735
2,370,120 2,099,863
8,444,591 7,670,872
5,952,072 5,692,590
$17,329,692 $15,868,492
LIABILITIES, CONTRIBUTIONS
AND RETAINED EARNINGS
Current liabilities:
Payable from current assets:
Current portion of revenue bonds
Current portion of obligations under
capitalized water and sewer contract
rights
Accounts payable
Payable from restricted assets:
Customer deposits
Accrued revenue bond interest payable
Total current liabilities
Obligations under capitalized water and
sewer facility contract rights
Revenue bonds
Total liabilities
Deferred revenues
Contributions:
From subdividers
From Environmental Protection Agency
From Trinity River Authority
Total contributions
Retained earnings:
Reserves:
For revenue bond debt service,
next maturing
For revenue bond retirement
For contingency
Total reserves (appropriated)
Unappropriated
Total fund equity
1980
1979
(Restated)
$ 145,000 $
142,677
1,972
159,219
38,774
487,642
6,006,454
3,810,000
10,304,096
205,273
3,451,763
239,617
15,000
3,706,380
79,388
274,660
523,288
877,336
2,236,607
6,820,323
$17.329,692
140,000
132,903
54,568
139,864
40,119
507,454
5,757,385
3,955,000
10,219,839
213,073
2,478,037
239,617
15,000
2,732,654
79,388
274,660
523,288
877,336
1,825,590
2,702,926
$15,868,492,
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
COMPARATIVE SCHEDULE OF OPERATING EXPENSES
Years ended September 30, 1980 and 1979
General and administrative:
Salaries and wages
Employee benefits
Postage and supplies
Maintenance of office machinery
Contractual services
Bad debts
Water production:
Salaries and wages
Employee benefits
Operating supplies and expense
Maintenance of structures and equipment
Water - Trinity River Authority
Other
Water distribution:
Salaries and wages
Employee benefits
Operating supplies and expense
Maintenance of structures and equipment
Contractual services
Other
Sewage collection and treatment:
Salaries and wages
Employee benefits
Operating supplies and expense
Maintenance of structures and equipment
Contractual services
Treatment fees - Trinity River Authority
Other
Nondepartmental:
Employee benefits
Operating supplies and expense
Contractual services
1980
$ 64,289
18,213
10,156
2,434
3,382
947
99,421
68,782
24,292
2,739
26,465
533,698
8,676
664,652
132,332
35,868
6,283
37,196
7,559
2,905
222,143
90,905
24,025
2,953
6,748
6,552
109,572
7,798
248,553
456
162,198
24,275
186,929
30
EXHIBIT C-2
1979
$ 56,231
17,349
8,880
2,193
3,155
4,873
92,681
57,669
22,737
1,754
7,348
293,542
32,754
415,804
103,049
31,565
4,215
25,569
8,344
780
173,522
67,321
24,011
2,354
5,880
6,855
104,316
2,920
213,657
122
124,351
16,421
140,894
Total operating expenses, excluding
depreciation and interest expense $1,421,698 $1,036,558
CITY OF EULESS, TEXAS
TRUST AND AGENCY FUNDS
COMBINING BALANCE SHEET
September 30, 1980
ASSETS
Cash and short-term investments
LIABILITIES AND FUND BALANCES
Liabilities:
Payroll taxes payable and
other current liabilities
Escrow deposits
Total liabilities
Fund balances:
Reserved for self -insured
losses and insurance
premiums
Total liabilities
and fund balances
Total
All
Agency
Funds
$178,505 $118,505
$ 95,222
67,896
163,118
15,387
$ 50,609
67,896
118,505
31
EXHIBIT D-1
Insurance
Fund
$60,000
$44,613
44,613
- 15,387
$178,505 $118,505
$60,000
32
EXHIBIT D-2
CITY OF EULESS, TEXAS
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES - ALL AGENCY FUNDS
Year ended September 30, 1980
Balance Balance
September 30, 1979 Additions Deductions September 30, 1980
SOCIAL SECURITY FUND
Assets
Cash and short-term
Interest $ 62,088 $ 754,576 $ 766,055 $ 50,609
Liabilities
Payroll taxes and other
payables $ 62,088 $ 754,576 $ 766,055. $ 50,609
ESCROW FUND
Assets
Cash and short-term
interest $174,025 $3,165,932 $3,272,061 $ 67,896
Liabilities
Escrow deposits $174,025 $3,165,932 $3,272,061_ $ 67,896
33
EXHIBIT D-2
CITY OF EULESS, TEXAS
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES - ALL AGENCY FUNDS
Year ended September 30, 1980
TOTAL ALL AGENCY FUNDS
Assets
Cash and short-term
Interest
Liabilities
Payroll taxes and other
payables
Escrow deposits
(Continued)
Balance
Balance
September 30, 1979 Additions Deductions September 30, 1980
$236 , 113
$ 62,088
174,025
$236,113
$3,920„508 $4,038,116
$ 754,576
3,165,932
$3,920,508
$ 766,055
3,272,061
i4,038,116
$118 , 505
$ 50,609
67,896
$118,505
Fiscal year
1975
1976
1977
1978
1979
1980
CITY OF EULESS, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS
Last six years
Total tax
levy
$1,237,576
1,285,139
1,604,752
1,630,303
1,670,397
1,683,564
Current tax
collections
$1,136,105
1,179,161
1,456,507
1,507,458
1,583,829
1,598,304
Percent
of levy
collected
91.80%
91.75
90.76
92.46
94.82
94.94
Delinquent
tax
collections
$51,805
97,107
48,244
90,383
171,253
93,789
34
TABLE 1
Total tax
collections
$1,187,910
1,276,268
1,504,751
1,597,841
1,755,082
1,692,093
Percent of
total tax
collections
to tax levy
95,99%
99.31
93.77
98,01
104.70
100.51
Outstanding
delinquent
taxes
$190,509
188,043
283,394
306,769
222,084
213,555
Percent of
delinquent
taxes to
tax levy
15.39%
14.63
17.66
18.82
13.30
12.68
Fiscal year
35
TABLE 2
CITY OF EULESS, TEXAS
PROPERTY TAX RATES PER $100 OF ASSESSED VALUE
Last seven years
(Unaudited)
Junior
City School County State Hospital college Total
1974 .85 1.76 .86 .17 .75 .40 4.79
1975 .85 1.76 .86 .12 .75 .40 4.74
1976 .85 1.80 .95 .12 .65 .40 4.77
1977 .94 1.76 .95 .10 .60 .40 4.75
1978 .94 1.76 .95 .10 .56 .38 4.69
1979 .94 1.76 .95 .10 .56 .36 4.67
1980 .94 1.76 .95 .10 .56 .35 4.66
NOTES:
(1) General property taxes for cities are limited by the Texas
Constitution to $2.50 per $100 of assessed valuation.
(2) City general property taxes are due each year on October 1
and become delinquent on February 1 each year. Penalties
are assessed on late payments ranging from 1% after
February 1 to 8% after July 1. Interest is charged on
late payments at the rate of 1/2 of 1% for each month's
delinquency. There are no discounts.
(3) The City's taxes are collected by the Hurst -Euless -Bedford
Independent School District and are distributed to the City
as collected.
CITY OF EULESS, TEXAS
RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE
AND NET BONDED DEBT PER CAPITA
Fiscal year Population*
1974
1975
1976
1977
1978
1979
1980
21,000
21,500
21,900
22,450
22,900
23,450
24,000
Last seven years
Assessed
value
$138,068,760
145,595,360
151,191,100
170,718,300
171,894,350
177,701,780
179,102,500
Gross
bonded
debt
$3,625,000
3,555,000
4,735,000
4,630,000
4,520,000
5,510,000
5,370,000
36
TABLE 3
Less debt
service funds
$285,211
237,135
136,255
143,138
170,049
201,177
156,522
Net bonded
debt
$3,339,789
3,317,865
4,598,745
4,486,862
4,349,951
5,308,823
5,213,478
Ratio of net Net bonded
bonded debt to debt
assessed value per capita
41.34 $159.04
43.88 154.32
32.88 209.99
38.05 199.86
39.52 189.95
33.47 226.39
34.35 217.23
*Estimates by North Central Texas Council of Governments as adjusted for 1980 census data.
CITY OF EULESS, TEXAS
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
September 30, 1980
(Unaudited)
Jurisdiction
City of Euless
Grapevine Independent
School District
Hurst -Euless -Bedford
Independent School District
Tarrant County
Tarrant County Junior
College District
Total direct and
overlapping debt
Net debt
outstanding
$ 5,213,478
14,260,000
25,959,000
24,985,601
16,464,721
Percent
applicable
to City of
Euless
100.00
9.04
25.64
5.04
5.04
37
TABLE 4
Amount
applicable
to City of
Euless
$ 5,213,478
1,289,104
6,655,888
1,259,274
829,822
$15,247,566
CITY OF EULESS, TEXAS
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION
Last Ten Years
Fiscal General
year government
1971 $139,907
1972 136,448
1973 230,892
1974 213,051
1975 251,449
1976 325,532
1977 285,024
1978 458,500
1979 546,750
1980 680,381
Public
safety Streets
$ 404,339
469,017
552,889
885,793
954,961
1,130,743
1,180,345
1,235,608
1,327,831
1,539,987
$ 65,276
78,094
107,415
146,882
159,446
166,229
177,625
201,074
256,149
266,714
Culture -
recreation
$138,762
156,751
193,761
280,161
329,427
373,960
367,944
422,526
453,046
545,733
38
TABLE 5
Debt
service Other*
$118,021 $
164,324
162,134
310,557
236,558
455,388
346,079
335,448
339,687
430,350
289,670
325,618
350,478
395,736
*Beginning in 1977 certain expenditures classified as nondepartmental
have been reported under "other" and were previously allocated or
charged directly to the several functions listed above.
Fiscal
year
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
CITY OF EULESS, TEXAS
GENERAL REVENUE BY SOURCE
Last Ten Years
Licenses
Taxes and fees
$ 847,657
926,085
1,083,071
1,454,433
1,652,464
1,850,701
2,194,138
2,464,944
2,648,936
2,763,651
$ 40,464
31,966
35,984
27,035
12,568
24,160
56,764
37,039
77,331
119,383
Inter-
governmental
revenue
$ 21,204
50,474
66,925
62,974
131,636
35,556
41,205
118,649
129,516
126,671
Charges
for
services
$13,959
14,798
27,475
24,265
23,301
31,556
27,583
27,698
23,827
46,512
39
TABLE 6
Miscel-
Fines laneous
$ 57,002
76,101
109,720
123,847
177,918
193,293
221,650
129,240
151,080
210,772
$ 41,288
53,180
57,000
89,196
102,820
105,850
136,185
195,110
200,111
291,721
Fiscal
year
1974
1975
1976
1977
1978
1979
1980
CITY OF EULESS, TEXAS
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR
GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES
Principal
$155,000
70,000
220,000
105,000
110,000
110,000
140,000
Last Seven Years
Interest
$155,557
166,558
235,388
241,079
235,448
229,249
289,638
Total debt
service
$310,557
236,558
455,388
346,079
345,448
339,687
430,350
Total
general
expenditures
$1,525,887
1,695,283
1,996,464
2,300,608
2,988,774
3,273,938
3,858,901
40
TABLE 7
Ratio of
debt service
to general
expenditures
(percent)
20.35%
13.95
22.81
15.04
11.56
10.38
11.15
CITY OF EULESS, TEXAS
WATER AND SEWER REVENUE BOND COVERAGE
Last Two Years
Net accrual revenue:
Operating revenue
Investment income
Operating expenses excluding depreciation
and amortization:
Contract charges by Trinity River Author-
ity for water and sewer facility:
Operations and maintenance
Debt service
Other
Net accrual revenue available for debt service
Reconciliation to net income:
Net income
Add (deduct):
Amortization of capitalized water and
sewer facility contract rights
Depreciation
Interest on revenue bonds
Transfers to General Fund
Principal portion of payments on water
and sewer facility contracts
Net accrual revenue available for debt service
Annual debt service on outstanding bonds:
Maximum any year
Average all years
Revenue bond coverage:
Maximum (times debt service)
Average (times debt service)
1980
$2,845,929
147,134
2,993,063
643,162
501,880
778,536
1,923,578
$1,069,485
$ 411,017
132,334
270,257
188,850
200,000
(132,973)
$1,069,485
41
TABLE 8
1979
$2,375,262
82,176
2,457,438
398,638
518,294
637,920
1,554,852
$ 902,586
$ 257,341
124,499
245,153
194,841
200,000
(119,248)
$ 902,586
$ 338,175 $ 338,175
250,345 253,415
3.09
4,18
2.62
3.50
42
TABLE 9
CITY OF EULESS, TEXAS
DEBT SERVICE REQUIREMENTS TO MATURITY -
GENERAL OBLIGATION BONDS
Fiscal
year Principal Interest Total
1981 $ 145,000 $ 281,839 $ 426,839
1982 155,000 273,485 428,485
1983 165,000 264,417 429,417
1984 195,000 254,938 449,938
1985 205,000 243,502 448,502
1986 215,000 231,692 446,692
1987 225,000 219,763 444,763
1988 230,000 208,102 438,102
1989 240,000 195,983 435,983
1990 245,000 183,592 428,592
1991 255,000 170,726 425,726
1992 275,000 156,777 431,777
1993 305,000 141,991 446,991
1994 335,000 124,404 459,404
1995 335,000 105,685 440,685
1996 340,000 86,950 426,950
1997 345,000 68,785 413,785
1998 245,000 53,715 298,715
1999 270,000 41,085 311,085
2000 170,000 26,955 196,955
2001 75,000 21,525 96,525
2002 75,000 18,600 93,600
2003 80,000 15,113 95,113
2004 80,000 11,392 91,392
2005 80,000 7,673 87,673
2006 85,000 3,952 88,952
$5,370,000 $3i412,641 $8,782,641
43
TABLE 10
CITY OF EULESS, TEXAS
DEBT SERVICE REQUIREMENTS TO MATURITY -
WATER AND SEWER REVENUE BONDS
Fiscal
year Principal Interest Total
1981 $ 145,000 $ 183,800 $ 328,800
1982 155,000 177,138 332,138
1983 160,000 170,075 330,075
1984 165,000 162,700 327,700
1985 175,000 154,960 329,960
1986 180,000 146,725 326,725
1987 200,000 138,175 338,175
1988 205,000 128,525 333,525
1989 210,000 118,650 328,650
1990 220,000 108,450 328,450
1991 165,000 97,800 262,800
1992 135,000 88,875 223,875
1993 120,000 82,800 202,800
1994 35,000 77,400 112,400
1995 130,000 75,825 205,825
1996 135,000 69,975 204,975
1997 145,000 63,900 208,900
1998 150,000 57,375 207,375
1999 120,000 50,625 170,625
2000 160,000 45,225 205,225
2001 170,000 38,025 208,025
2002 240,000 30,375 270,375
2003 190,000 19,575 209,575
2004 120,000 11,025 131,025
2005 125,000 5,625 130,625
$3,955,000 $2,303,623 $6,258,623
Fiscal
year
1974
1975
1976
1977
1978
1979
1980
44
TABLE 11
CITY OF EULESS, TEXAS
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
Last Seven Years
(Unaudited)
Real property
Assessed Estimated
value actual value
$126,976,300
131,038,410
133,439,320
152,478,400
149,618,690
153,414,790
158,125,200
$195,348,154
201,597,554
205,291,262
234,582,154
230,182,600
236,022,754
243,269,538
Personal
Assessed
value
$11,092,460
14,556,950
17,751,780
18,239,900
22,275,660
24,286,990
20,977,300
property
Estimated
actual value
$17,065,323
22,395,308
27,310,430
28,061,384
34,270,246
37,364,600
32,272,769
Total
Assessed Estimated
value actual value
$138,068,760
145,595,360
151,191,100
170,718,300
171,894,350
177,701,780
179,102,500
$212,413,477
223,992,862
232,601,692
262,643,538
264,452,846
273,387,354
275,542,307
Ratio of total assessed
to total estimated
actual value
65%
65
65
65
65
65
65
CITY OF EULESS, TEXAS
MISCELLANEOUS STATISTICAL FACTS
(Unaudited)
Date of incorporation
Date of adoption of Charter
Form of government:
Home Rule, Council -Manager
Mayor - elected at large
Five council members
45
TABLE 12
February 24, 1953
July 21, 1962
Area 16.9 square miles
Population:
1960 census 4,236
1970 census 19,316
1980 estimated 24,000
Building permits issued:
Year ended September 30, 1980 394
Estimated cost $21,485,417
Full time City employees:
September 30, 1980 152
Police protection:
Number of stations 1
Number of certified officers 34
Fire protection:
Number of stations 2
Number of certified firefighters 24
Parks and recreation:
Number of swimming pools 3
Number of parks 8
Area of parks 122 acres
Community buildings 2
Library volumes 44,653
Education:
Elementary Schools 6
Junior High Schools 2
High School 1
CITY OF EULESS, TEXAS
MISCELLANEOUS STATISTICAL FACTS
(Unaudited)
(Continued)
City Water and Sewer service:
Water service:
Number of meters at September 30, 1980
Maximum daily capacity available from
Trinity River Authority
Maximum daily capacity of City water wells
Total daily capacity
Maximum daily consumption
Average daily consumption
Water Mains
Fire hydrants
Sewer service:
Average daily flow of wastewater
Sewer connections
Sewer mains
Street lights
Steet s :
Improved
State highways
City's ten largest taxpayers:
5,737
8,000,000
4,000,000
12,000,000
6,316,000
3,933,840
110
449
46
TABLE 12
gallons
gallons
gallons
gallons
gallons
miles
2,700,000 gallons
5,441
98 miles
493
142 miles
17.2 miles
Principal taxpayers Type of business
Sotogrande Apartment Complex
Texas Power & Light Company
Southwestern Bell Telephone Company
Ector Square Apartments
Concord House Apartments and
Summit Square Apartments
Teccor, Inc.
Paso Del Oeste Apartments
Bell Operations Corporation
Burgundy Square Apartments
First National Bank - Euless
Apartments
Utility
Utility
Apartments
Apartments
Manufacturer
Apartments
Management
Apartments
Bank
Assessed
valuation
$12,267,200
2,901,390
2,871,880
2,503,950
2,161,900
2,124,030
1,194,450
1,813,430
1,630,000
1,508,150