HomeMy WebLinkAboutFY 1981 Financial Statements and Statistical Information - AuditCITY OF EULESS, TEXAS
FINANCIAL STATEMENTS
AND STATISTICAL INFORMATION
YEAR ENDED SEPTEMBER 30, 1981
with
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
OFFICIAL .COPY -- VAULT
PR
CONTENTS
INTRODUCTORY SECTION
Letter of transmittal
Report of certified public accountants
FINANCIAL SECTION
Exhibit Combined statements - overview
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 11-15
A-7 Notes to financial statements - all
funds and accounts 16-27
Combining and individual funds financial statements
B-1 Combining balance sheet -
Capital Projects Funds 28
B-2 Combining statement of revenue,
expenditures and changes in fund
balances - Capital Projects Funds
29
CONTENTS
(Continued)
FINANCIAL SECTION
Combining and individual funds financial statements
(continued)
Exhibit Page
C-1 Comparative balance sheet - Water
and Sewer Enterprise Fund 30
C-2 Comparative schedule of operating expenses -
Water and Sewer Enterprise Fund 31-32
D-1 Combining balance sheet
Trust and Agency Funds 33
D-2 Combining statement of changes in assets
and liabilities - All Agency Funds 34
Table STATISTICAL SECTION
1 Property tax levies and collections 35
2 Property tax rates 36
3 Ratio of net general bonded debt to assessed
value and net bonded debt per capita 37
4 Computation of direct and overlapping debt 38
5 General governmental expenditures by function 39
6 General revenue by source 40
7 Ratio of annual debt service expenditures for
general bonded debt to total general
expenditures 41
8 Water and sewer revenue bond coverage 42
9 Debt service requirements to maturity -
general obligation bonds 43
10 Debt service requirements to maturity -
Water and Sewer Revenue Bonds 44
11 Assessed and estimated actual value of
taxable property 45
12 Miscellaneous statistical facts 46-47
PHONE (817) 283-5381 • 201 N. ECTOR DRIVE • EULESS, TEXAS 76039
wit#4
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, 1981 is submitted herewith.
System and Reports
The City's accounting records for general governmental operations
are maintained on a modified accrual basis, with the most impor-
tant 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 and general debt
service totaled $4,309,781 in 1981, an increase of 21.11 percent
over 1980. General property taxes produced 45.78 percent of
general revenue compared to 47.32 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
Amount
$1,982,063
587,210
660,122
187,263
208,746
477,655
206,722
y$4.309.781
Percent
of total
45.78
13.56
15.25
4.32
4.82
11.49
4.78
100.00
Increase
(decrease)
from 1980
$298,107
147,310
20,327
67,880
(2,026)
139,422
80,051
$751_,071
EULESS MY CHOICE, LJOUR OPPORTUNUTI
Mr. W. M. Sustaire
page 2
In addition to the above general revenue, $200,000 was trans-
ferred from the Water and Sewer Enterprise Fund to the General
Fund and $20,000 transferred from the Special Revenue Fund.
Included in the general governmental revenue is $206,722 received
from Federal and State grants. These funds were applicable gener-
ally to law enforcement and parks and recreation programs.
Expenditures for general governmental purposes and general debt
service totaled $4,106,120 an increase of 6.41 percent over 1980.
Changes in levels of expenditure for major functions of the City
over the preceding 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
$ 739,346
1,734,324
255,642
150,443
380,150
145,000
282,658
418,557
$4,106,120
Cash Management
Percent
of total
18.01
42.24
6.23
3.66
9.26
3.53
6.88
10.19
100.00
Increase
(decrease)
from 1980
$ 58,965
194,337
(11,072)
1,393
(16,533)
5,000
(7,692)
22,821
$247,219
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
appropriate 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, 1981, the general fixed assets of the City amounted
to $14,299,727. 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's accounting system.
Mr. W. M. Sustaire
page 3
Water and Sewer System
The City's water and sewer utility had a successful year and
continued to show gains in gross sales and number of customers.
Comparative data for the past two fiscal years are presented in
the following tabulation:
1981 1980
Net income $ 289,291 $ 411,017
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
132,334 132,334
301,630 270,257
182,394 188,850
200,000 200,000
(142,527) (132,973)
Net revenue available for debt service $ 963,122 $1,069,485
Average annual debt service $247,076 $250,345
Coverage 3.90 times 4.27 times
During the year, $145,000 of regularly maturing revenue bonds
were retired in the Water and Sewer Enterprise Fund.
All reserve and accounting requirements have been met in accor-
dance 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 admini-
strative 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.
Mr. W. M. Sustaire
page 4
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 Departmentwho 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,
James R. Hickerson
Director of Finance
ARTI-IUR YOUNG & COMPANY
2200 FORT WORTH NATIONAL BANK BLDG.
FORT WORTH, TEXAS 76102
The Honorable Mayor and
City Council
City of Euless, Texas
We have examined the combined financial statements of the
City of Euless, Texas, at September 30, 1981, and for the year
then ended, listed in the foregoing table of contents under the
caption "Financial Section." Our examination was made in
accordance 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 circumstances.
In our opinion, the combined financial statements referred to
above present fairly the financial position of the City of
Euless, Texas, at September 30, 1981, 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 con-
formity with generally accepted accounting principles applied
on a basis consistent with that of the preceding year.
0ur examination was made for the purpose of forming 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
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, the information is fairly stated in all material
respects in relation to the combined financial statements taken
as a whole.
November 13, 1981
1
EXHIBIT A
CITY OF EULESS, TEXAS
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
September 30, 1981
ASSETS AND
OTHER DEBITS
Cash and short-term investments
Receivables:
Delinquent taxes, net of allowance
for doubtful collections of
$146,488
Assessments
Accounts receivable, net
Unbilled water and sewer revenue
Due from other funds
Due from other governments
Inventory
Restricted assets (Notes 2, 3 and 4)
General fixed assets (Note 6)
Net utility plant in service (Note 6)
Capitalized water and sewer facility
contract rights less accumulated
amortization of $796,941 (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 Capital
General Service Projects
Fund Fund Funds
Special
Revenue
Fund
$ 907,118 $162,399 $810,754 $54,878
28,776 13,141
314,844 17,752
102,644
13,499
2,284
85,462
Fiduciary
fund types
Trust
and
Agency
Funds
$348,932
5,296
Propriety
fund types
Water and
Sewer
Enterprise
Fund
$ 755,489
256,923
212,508
1,672,349
9,971,973
5,819,738
Account groups
General General
fixed long-term
assets debt
14,299,727
173,872
5,051,128
$1,369,165 $193,292 $896,216 $54,878 $354,228 $18,681_,_980 $14,299,727 $5,225,000
Total
(memorandum
only)
$ '3,039,570
41,917
85,462
589,519
212,508
107,940
13,499
2,284
1,672,349
14,299,727
9,971,973
5,819,738
173,872
5,051,128
111,081,486
2
EXHIBIT A
CITY OF EULESS, TEXAS
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
September 30, 1981
(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
Unreserved
Retained earnings:
Appropriated (Note 3)
Unappropriated
Total fund equity
Governmental fund types
Debt
General Service
Fund Fund
Capital Special
Projects Revenue
Funds Fund
$ 28,383 $ - $ 16,250 $
55,201
83,584
5,871
13,549
19,420
102,069
118,319
Fiduciary
fund types
Trust
and
Agency
Funds
- $ 42,382
311,846
- 354,228
18,321
2,284
1,264,976 173,872 777,897 54,878
1,285,581 173,872 777,897 54,878
1�369,165 $193,292 $896,216
See notes to financial statements, Exhibit A-7.
$54,878 $354,228
Propriety
fund types
Water and
Sewer
Enterprise
Fund
$ 6,151 $
169,272
37,369
6,006,604
3,810,000
197,473
10,226,869
Account groups
General
fixed
assets
- 14,299,727
5,058,877
877,336
2,525,898
8,462,111
$18,688,980
14,299,727
General
long-term
debt
Total
(memorandum
only)
- $ 93,166
481,118
37,369
107,940
5,225,000
5,225,000
6,006,604
9,035,000
266,223
16,027,420
- 14,299,727
5,058,877
114,299,72,7 p4225,000
18,321
2,284
2,271,623
877,336
2,525,898
25,054,066
.41 081,486
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, 1981
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
Planning and Development
Library
Recreation Department
Park Department
Pools
Governmental fund types
Debt Capital Special Total
General Service Projects Revenue (memorandum
Fund Fund Funds Fund only)
$1,537,055 $445,008 $ - $ - $1,982,063
587,210 66,821 654,031
660,122 660,122
187,263 187,263
208,746 208,746
394,881 6,924 401,805
82,774 82,774
206,722 256,133 462,855
37,403 37,403
3,864,773 445,008 300,460 66,821 4,677,062
12,404
127,926
21,208
276,313
977,030
91,140
622,701
255,642
43,453
77,410
150,443
110,608
239,242
30,300
21,131
12,404
127,926
21,208
276,313
977,030
91,140
622,701
255,642
43,453
98,541
150,443
110,608
239,242
30,300
CITY OF EULESS, TEXAS
ALL GENERAL GOVERNMENTAL FUND TYPES
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
Year ended September 30, 1981
(Continued)
Expenditures (continued):
Civic center
Non -departmental
Code enforcement
Jail fund
Interest on bonds
Matured bonds
Service charges
Capital outlay and maintenance
Total expenditures
Other financing sources (uses):
Transfers from (to) other funds
Excess of total revenue and other
sources over (under) total
expenditures and other uses
Decrease in inventory reserve
Unreserved fund balances, beginning
of year
Unreserved fund balances, end of year
4
EXHIBIT A-1
Governmental fund types
Debt
General Service
Fund Fund
Capital
Projects
Funds
Special
Revenue
Fund
$ 66,202 $ - $ - $
418,557
73,763
84,120
3,678,462
220,000
281,839
145,000
819
427,658
406,311 17,350
402
569,937
569,937
21,131
- (20,000)
(269,477) 25,690
Total
(memorandum
only)
$ 66,202
418,557
73,763
84,120
281,839
145,000
819
569,937
4,697,188
200,000
179,874
402
858,263 156,522 1,047,374 29,188 2,091,347
$1,264,976 $173,872 $ 777,897. 1_54,878 $2,271,623
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, 1981
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
$132, 334
301,630
182,394
5
EXHIBIT A-2
$1,632,186
1,368,041
37,488
89,146
3,126,861
1,817,906
1,308,955
433,964
874,991
125,688
328,994 511,388
489,291
200,000
Net income 289,291
Unappropriated retained earnings, beginning
of year 2,236,607
Unappropriated retained earnings, end of year $2,525,898
See notes to financial statements, Exhibit A-7.
6
EXHIBIT A-3
CITY OF EULESS, TEXAS
ALL EXPENDABLE TRUST FUND TYPES
INSURANCE FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
Year ended September 30, 1981
Revenue:
Received from other funds $ 19,744
Expenditure:
General administrative
Excess expenditure over revenue
35,131
(15,387)
Fund balance:
Reserve for self-insurance losses and
insurance premiums, beginning of year 15,387
Reserve for self-insurance losses and
insurance premiums, end of year $
See notes to financial statements, Exhibit A-7.
7
EXHIBIT A-4
CITY OF EULESS, TEXAS
ALL PROPRIETARY FUND TYPES
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended September 30, 1981
Funds provided:
Operations:
Net income
Expenses not requiring current outlay of funds:
Depreciation
Amortization of water and sewer capitalized
contract rights
Amortization of deferred revenue - Trinity
River Authority agreement
Total funds provided by operations
Contributions in aid to construction
Decrease in restricted assets
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
Reduction in revenue bonds
Total funds used
Decrease in working capital
$ 289,291
301,630
132,334
(7,800)
715,455
1,352,497
30,433
2,098,385
154,605
1,829,012
155,000
2,138,617
$ 40,232
8
EXHIBIT A-4
CITY OF EULESS, TEXAS
ALL PROPRIETARY FUND TYPES
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended September 30, 1981
(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
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
Decrease in working capital
See notes to financial statements, Exhibit A-7.
(48,252)
(45,357)
63,541
24,741
(5,327)
10,000
12,078
4,179
10,053
(1,405)
34,905
40,232
9
EXHIBIT A-5
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF REVENUE - BUDGET AND ACTUAL
Year ended September 30, 1981
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
Miscellaneous
Metroplex Cab Company
General sales tax
Licenses and permits:
Building permits
Cable T.V.
Street inspections
Miscellaneous permits
Electric license exams
Estimated
revenue
$1,868,172
20,000
1,888,172
105,000
225,000
70,000
10,000
27,000
150
437,150
550,000
55,000
20,000
4,600
5,000
84,600
Actual
revenue
$1,501,658
35,397
1,537,055
Actual
over
(under)
$(366,514)
15,397
(351,117)
179,004 74,004
287,247 62,247
74,162 4,162
12,702 2,702
33,845 6,845
250 100
587,210 150,060
660,122 110,122
115,612 60,612
2,128 2,128
52,686 32,686
9,357 4,757
7,480 2,480
187,263 102,663
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF REVENUE - BUDGET AND ACTUAL
Year ended September 30, 1981
(Continued)
Fines and fees:
Corporation court fines
Dog pound fees
Interest income
Intergovernmental
Other revenue:
Library receipts
Tarrant County Library
contributions
Rental income
Miscellaneous income
Texas Court cost service fee
Swimming pools
Total revenue
Estimated
revenue
Actual
revenue
10
EXHIBIT A-5
Actual
over
(under)
$ 200,000 $ 203,273 $ 3,273
5,000 5,473
205,000
150,000
3,000
6,510
3,500
17,500
1,000
25,000
56,510
$3,371,432
208,746
394,881
206,722
5,024
6,510
8,475
41,674
1,198
19,893
82,774
$3,864,773
See notes to financial statements, Exhibit A-7.
473
3,746
244,881
206,722
2,024
4,975
24,174
198
(5,107)
26,264
$ 493,341
11
EXHIBIT A-6
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1981
Actual
over
Budget Expenditures (under)
City Council:
Supplies $ 5,500 $ 3,542 $ (1,958)
Other services and charges 8,000 8,862 862
13,500 12,404 (1,096)
General Government:
Personnel services 124,070 111,852 (12,218)
Maintenance 1,200 971 (229)
Other services and charges 21,700 15,103 (6,597)
Capital outlays and repairs
and maintenance 1,000 (1,000)
147,970 127,926 (20,044)
Civil Service:
Personnel services 20,097 19,375 (722)
Supplies 500 555 55
Other services and charges 1,950 1,278 (672)
22,547 21,208 (1,339)
Service Center:
Personnel services 133,987 114,056 (19,931)
Supplies 115,600 129,213 13,613
Maintenance 30,800 32,524 1,724
Other services and charges 1,150 421 (729)
Capital outlays 5,700 99 (5,601)
287,237 276,313 (10,924)
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1981
(Continued)
Law Enforcement:
Police Department:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Legal and Corporation Court:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Total Law Enforcement
Fire Department:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlay
Street Department:
Personnel services
Supplies
Maintenance
Other services and charges
Budget Expenditures
$ 989,601
31,844
8,300
33, 311
1,850
1,064,906
$ 910,583
27,337
10,252
27,452
1,406
977,030
63,468 61,386
2,000 2,452
550 377
23,155 26,925
250
89,423 91,140
1,154,329 1,068,170
632,714
26,000
15,600
6,400
6,000
686,714
208,392
11,550
106,376
2,525
328,843
588,718
14,117
9,869
4,050
5,947
12
EXHIBIT A-6
Actual
ove r
(under)
$ (79,018)
(4,507)
1,952
(5,859)
(444)
(87,876)
(2,082)
452
(173)
3,770
(250)
1,717
(86,159)
(43,996)
(11,883)
(5,731)
(2,350)
(53)
622,701 (64,013)
185,113
9, 240
60,924
365
(23,279)
(2,310)
(45,452)
(2,160)
255,642 (73,201)
13
EXHIBIT A-6
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND
Year ended September 30, 1981
(Continued)
Traffic Safety Administration:
Personnel services
Supplies
Maintenance
Other services and charges
Planning and Development
Department:
Personnel services
Supplies
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
ACTUAL
Budget Expenditures
1,800
29,000
15,750
46,550
67,142
700
16,725
84,567
121,133
2,850
1,400
20,474
22,500
168,357
107,069
11,450
1,000
21,100
3,400
144,019
Actual
ove r
(under)
$ 5,311 $ 5,311
708 (1,092)
25,813 (3,187)
11,621 (4,129)
43,453 (3,097)
69,008 1,866
831 131
7,571 (9,154)
77,410 (7,157)
117,999 (3,134)
2,681 (169)
1,046 (354)
8,075 (12,399)
20,642 (1,858)
150,443 (17,914)
93,260 (13,809)
10,026 (1,424)
707 (293)
5,233 (15,867)
1,382 (2,018)
110,608 (33,411)
14
EXHIBIT A-6
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1981
(Continued)
Park Department:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
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
Budget Expenditures
$ 203,092
24,000
24,400
11,440
$ 173,543
17,795
22,092
10,743
15,069
262,932 239,242
24,400
7,800
9,300
750
3,780
46,030
30,236
6,350
11,150
22,500
2,000
72,236
3,000
12,000
282,250
20,586
6,031
3,143
245
295
30,300
20,771
6,137
15,270
22,098
1,926
66,202
Actual
over
(under)
$ (29,549)
(6,205)
(2,308)
(697)
15,069
(23,690)
(3,814)
(1,769)
(6,157)
(505)
(3,485)
(15,730)
(9,465)
(213)
4,120
(402)
(74)
(6,034)
(3,000)
13,257 1,257
405,300 123,050
297,250 418,557 121,307
15
EXHIBIT A-6
CITY OF EULESS, TEXAS
GOVERNMENTAL FUND TYPES
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1981
(Continued)
Code Enforcement:
Personnel services
Supplies
Maintenance
Other services and charges
Special Jail Expenditures:
Personnel costs
Supplies
Maintenance
Total all departments
Budget Expenditures
$ 73,410
500
450
3,450
77,810
$ 69,888
453
27
3,395
73,763
47,846
25,789
10,485
84,120
$3,840,891 $3,678,462
See notes to financial statements, Exhibit A-7.
Actual
over
(under)
$ (3,522)
(47)
(423)
(55)
(4,047)
47,846
25,789
10,485
84,120
E162,429)
16
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
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 Govern-
mental Accounting, for the purpose of accounting for trans-
actions 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 disposi-
tion of funds for paying interest and principal on general
obligation bonds.
Capital Projects Funds - to account for the source and
disposition of funds for the acquisition of capital facil-
ities other than those recorded in the Enterprise Fund and
those purchased by other funds.
17
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Special Revenue Fund - to account for special revenue
sources that are legally restricted to expenditures for
specified purposes.
Fiduciary Funds
Trust and Agency Funds - to account for assets received
and held by the City as trustee or agent for individuals,
organizations, 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 unma-
tured principal of outstanding bonds, except those recorded
in the Enterprise Fund.
18
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
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
19
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
limited by the Texas Constitution to $2.50 per $100 of
assessed valuation. The City's current tax rate is $.70 per
$100 of assessed valuation and assessed valuation is approxi-
mately 100% 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.
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
construction and are capitalized in the General Fixed Assets
Accounts.
Costs related to repairs and maintenance are
not capitalized. Significant renovations and improvements
are capitalized.
20
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
DEPRECIATION
No depreciation is recorded on general fixed
assets. Depreciation is recorded on each class of depreciable
property 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 Retire-
ment System which covers all eligible full time employees.
The total pension expense for the year was approximately
$149,900 and $31,300 for the General Fund and Water and
Sewer Enterprise Fund, respectively, which includes amorti-
zation 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.
21
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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 cap-
tioned 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. Neither is
such data comparable to a consolidation. Interfund elimina-
tions 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.
22
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
3. BONDS PAYABLE
Bonded debt outstanding at September 30, 1981,
consists of the following:
General obliga-
tion bonds
Water and Sewer
Revenue Bonds
Range of
interest
rates
Unpaid
balance Current Long-term
at 9-30-81 maturities maturities
3.6 to 7.5% $5,225,000 $145,000
4.5 to 6% 3,810,000 155,000
$9,035,000 $300,000
$5,080,000
3,655,000
$8 , 7351000
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 maturities for the next five years is as follows:
1982
1983
1984
1985
1986
Thereaf ter
Less interest
General long-
term debt
$ 428,485
429,417
449,938
448,502
446,693
6,152,767
8,355,802
3,130,802
Principal $5,225,000
Water and Sewer
Revenue Bonds
$ 332,138
330,075
327,700
329,960
326,725
4,283,225
5,929,823
2,119,823
$3,810,000
Total
$ 760,623
759,492
777,638
778,462
773,418
10,435,992
14,285,625
5,250,625
$ 9,0351000
23
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
3. BONDS PAYABLE (continued)
General obligation bonds authorized and unissued
as of September 30, 1981, amounted to $2,845,000. Water
and Sewer Revenue Bonds authorized and unissued as of
September 30, 1981, amounted to $4,200,000.
Water and Sewer Revenue Bonds are 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 - to be used
for payment of principal and interest on bonds at any
time where there is not sufficient money available in
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.
24
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
3. BONDS PAYABLE (continued)
All requirements for funding of the above reserves
were met at September 30, 1981.
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 prepay-
ment 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 exceed 32.33% of the requirement
25
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
4. PROPERTY SALE PROCEEDS ACCOUNTS (continued)
on the amount of bonds then outstanding. As of September 30,
1981, $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, mainte-
nance 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
26
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
5. WATER AND SEWER FACILITY CONTRACT RIGHTS (continued)
years of estimated future minimum requirements under the
contracts (debt service portion) together with the present
value of the net minimum requirements as of September 30,
1981:
Year ending September 30:
1982 $ 546,505
1983 544,160
1984 541,226
1985 540,468
1986 538,778
Thereafter 7,883,703
10,594,840
Less amount representing
interest 4,588,236
Present value of minimum
requirements $ 6,006,604
Total payments under these contracts approximated
$1,469,000 in 1981.
6. FIXED ASSETS
The following is a summary of changes in general
fixed assets by source:
27
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1981
6. FIXED ASSETS (continued)
Improvements Machinery
Land and other than and
Total buildings buildings equipment
Balance, beginning
of year $11,523,028 $2,529,212 $ 7,689,783 $1,304,033
Add:
Expenditures from
bond funds 29,993 29,993 - -
Expenditures from
current revenue 45,666 1,448 17,789 26,429
Expenditures from
revenue sharing 170,766 25,747 145,019
Expenditures from
developers'
contributions 2,619,980 2,619,980
Total additions 2,866,405 31,441 2,663,516 171,448
Deduct:
Disposals of
fixed assets 89,706 - - 89,706
Balance, end of
year $14,299,727 $2.560.653 $10,353,299 $1,385,775
The following is a summary of Water and Sewer Fund
utility plant in service at September 30, 1981:
Land $ 1,013,291
Equipment 320,780
Water and sewer system 11,309,652
Less accumulated depreciation
12,643,723
2,671,750
Net $ 9.971.973
COMBINING AND INDIVIDUAL
FUNDS FINANCIAL STATEMENTS
28
EXHIBIT B-1
CITY OF EULESS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
September 30, 1981
ASSETS
Cash and short-term
investments
Other receivables
LIABILITIES, AND FUND EQUITY
Accounts payable
Due to other funds
Fund balances
Total
$810,754
85,462
$896,216
$ 16,250
102,069
118,319
777,897
$896,216
Street
Improvement
and Drainage
Fund
$632,998
$632.998
$ 15,247
5,296
20,543
612,455
$632,998
Park and
Recreation
Fund
$ 10,495
34,100
$ 44.595
$ 1,003
96,773
97,776
(53,181)
$ 44,595
Revenue
Sharing
Fund
$ 59,778
51,362
$111.140
Public
Safety
Fund
$107,483
$107,483
107,483
$107.483
CITY OF EULESS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCES
Year ended September 30, 1981
Total
29
EXHIBIT B-2
Street
Improvement Park and Revenue Public
and Drainage Recreation Sharing Safety
Fund Fund Fund Fund
Revenue:
Interest income $ 6,924 $ - $ - $ 6,924 $
Paving assessments 37,403 37,403
Federal Revenue Sharing 205,448 205,448
Other grants 50,685 50,685
300,460 37,403 50,685 212,372
Expenditures:
Capital outlay and
maintenance 569,937 198,141 152,182 189,621 29,993
Excess (deficiency) of
revenue over
expenditures (269,477) (160,738) (101,497) 22,751 (29,993)
Fund balances,
beginning of year 1,047,374 773,193 48,316 88,389 137,476
Fund balances,
end of year $ 777,897 $ 612.455 $_ 53. 181) $111140 11074_ 83
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
COMPARATIVE BALANCE SHEET
September 30, 1981 and 1980
ASSETS
Current assets:
Cash and short-term investments
Accounts receivable, less allowance
for estimated uncollectable accounts
of $1,463 in 1981 and $8,909 in 1980
Unbilled water and sewer revenue
Accrued interest receivable
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 $796,941 and $664,607
in 1981 and 1980
1981
30
EXHIBIT C-1
1980
$ 755,489 $ 803,741
205,267 250,624
212,508 148,967
51,656 26,915
1,224,920 1,230,247
79,388
8,447
266,213
100,000
423,288
620,357
169,272
5,384
1,672,349
1,013,291
320,780
11,309,652
12,643,723
2,671,750
9,971,973
79,388
8,447
266,213
100,000
423,288
660,844
159,219
5,383
1,702,782
1,013,291
168,993
9,632,427
10,814,711
2,370,120
8,444,591
5,819,738 5,952,072
$18,688,980 $17,329,692,
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
1981
$ 155,000 $
154,755
6,151
169,272
37,369
522,547
5,851,849
3,655,000
10,029,396
197, 473
4,804,260
239,617
15,000
5,058,877
79,388
274,660
523,288
877,336
2,525,898
8,462,111
$18.688,980
1980
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.
31
EXHIBIT C-2
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
COMPARATIVE SCHEDULE OF OPERATING EXPENSES
Years ended September 30, 1981 and 1980
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
1981
$ 74,315
11,283
11,910
3,635
16,143
5,320
1980
$ 64,289
18,213
10,156
2,434
3,382
947
122,606 99,421
92,746 68,782
20,409 24,292
2,282 2,739
42,308 26,465
707,457 533,698
7,454 8,676
872,656 664,652
133,898 132,332
29,417 35,868
5,463 6,283
33,398 37,196
8,998 7,559
369 2,905
211543 222,143
107,692
21,717
3,444
9,479
6,545
277,732
3,394
430, 003
90,905
24,025
2,953
6,748
6,552
109,572
7,798
248,553
32
EXHIBIT C-2
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
COMPARATIVE SCHEDULE OF OPERATING EXPENSES
Years ended September 30, 1981 and 1980
(Continued)
1981 1980
Nondepartmental:
Employee benefits $ 623 $ 456
Operating supplies and expense 161,143 162,198
Contractual services 19,332 24/275
181,098 186/929
Total operating expenses, excluding
depreciation and interest expense $1.817.906 $1.421.69$
CITY OF EULESS, TEXAS
TRUST AND AGENCY FUNDS
COMBINING BALANCE SHEET
September 30, 1981
ASSETS
Cash and short-term investments
Due from other funds
LIABILITIES AND FUND BALANCES
Liabilities:
Payroll taxes payable and
other current liabilities
Escrow deposits
Total liabilities
Total
$348,932
5,296
$354,228
$ 42,382
311,846
$354,228
33
EXHIBIT D-1
All
Agency Insurance
Funds Fund
$348,932 $
5,296
$354,228 $
$ 42,382 $
311,846
$354,228 $
CITY OF EULESS, TEXAS
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES - ALL AGENCY FUNDS
Year ended September 30, 1981
SOCIAL SECURITY FUND
Assets
Cash and short-term
investments
Liabilities
Payroll taxes and other
payables
ESCROW FUND
Assets
Cash and short-term
investments
Due from other funds
Liabilities
Escrow deposits
TOTAL ALL AGENCY FUNDS
Assets
Cash and short-term
investments
Due from other funds
Liabilities
Payroll taxes and other
payables
Escrow deposits
Balance
September 30, 1980 Additions
$ 50,609
$ 50,609
$ 67,896
$ 67,896
$ 67.896
$118,505
$118,505
$ 50,609
67,896
$118,505
34
EXHIBIT D-2
Balance
Deductions September 30, 1981
1 _806, 539 1 814,766
1 806,213 1 814,440
$4,259,180
5 296
$4.264.476,
$4,264,476
$5,065,719
5,296
1510711015
$ 806,213
4,264,476
$5,070,689
$4,020,526
$4.020.526
$4,835,292
$418357 292:
$ 814,440
4,020,526,
$4.834,966
$ 42.382
$ 42.382
$306,550
57296
$31 14 846
1311, 84f
$348,932
5,296
$354. 228
$ 42,382
311,846
54, 228
35
TABLE 1
Fiscal year
1974
1975
1976
1977
1978
1979
1980
1981
CITY OF EULESS, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS
Last eight years
Total tax
levy
$1,173,599
1,237,576
1,285,139
1,604,752
1,630,303
1,670,397
1,683,564
1,966,178
Current tax
collections
$1,070,877
1,136,105
1,179,161
1,456,507
1,507,458
1,583,829
1,598,304
1,889,920
Percent
of levy
collected
91.25%
91.80
91.75
90.76
92.46
94.82
94.94
96.12
Delinquent
tax
collections
$10,072
51,805
97,107
48,244
90,383
171,253
93,789
101,408
Total tax
collections
$1,080,949
1,187,910
1,276,268
1,504,751
1,597,841
1,755,082
1,692,093
1,991,328
Percent of
total tax
collections
to tax levy
92.11%
95.99
99.31
93 .77
98.01
104.70
100.51
101.28
Outstanding
delinquent
taxes at
year end
$141,492
190,509
188,043
283,394
306,769
222,084
213,555
188,405
Percent of
delinquent
taxes to
tax levy
12.07%
15.39
14.63
17.66
18.82
13.30
12.68
9.58
36
TABLE 2
CITY OF EULESS, TEXAS
PROPERTY TAX RATES PER $100 OF ASSESSED VALUE
Last eight years
(Unaudited)
Fiscal year
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
1981 .70 1.24 .285 .31 .095 2.63
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
Fiscal year
1974
1975
1976
1977
1978
1979
1980
1981
AND NET BONDED DEBT PER CAPITA
Last eight years
Population*
19,700
21,500
21,900
22,450
22,900
23,450
24,000
26,250
Assessed
value
$138,068,760
145,595,360
151,191,100
170,718,300
171,894,350
177,701,780
179,102,500
280,882,530
Gross
bonded
debt
$3,625,000
3,555,000
4,735,000
4,630,000
4,520,000
5,510,000
5,370,000
5,225,000
37
TABLE 3
Less debt
service funds
$285,211
237,135
136,255
143,138
170,049
201,177
156,522
173,872
Net bonded
debt
$3,339,789
3,317,865
4,598,745
4,486,862
4,349,951
5,308,823
5,213,478
5,051,128
Ratio of
assessed
value to net
bonded debt
41.34
43.88
32.88
38.05
39.52
33.47
34.35
55.61
*Estimates by North Central Texas Council of Governments as adjusted for 1980 census data.
Net bonded
debt
per capita
$169.53
154.32
209.99
199.86
189.95
226.39
217.23
192.42
38
TABLE 4
CITY OF EULESS, TEXAS
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
September 30, 1981
(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
$ 5,051,128
13,650,000
24,906,000
23,082,710
14,012,318
Percent
applicable
to City of
Euless
100.00
9.04
25.64
5.04
5.04
Amount
applicable
to City of
Euless
$ 5,051,128
1,233,960
6,385,898
1,163,368
706,221
$14,540075
39
TABLE 5
Fiscal
year
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
CITY OF EULESS, TEXAS
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION
Last ten years
General
government
$136,448
230,892
213,051
251,449
325,532
285,024
458,500
546,750
680,381
739,346
Public
safety
$ 469,017
552,889
885,793
954,961
1,130,743
1,180,345
1,235,608
1,327,831
1,539,987
1,734,324
Culture - Debt
Streets recreation service Other*
$ 78,094 $156,751 $164,324
107,415 193,761 162,134
146,882 280,161 310,557
159,446 329,427 236,558
166,229 373,960 455,388
177,625 367,944 346,079
201,074 422,526 335,448
256,149 453,046 339,687
266,714 545,733 430,350
255,642 530,593 427,658
289,670
325,618
350,478
395,736
418,557
* Beginning in 1977 certain expenditures classified as nondepart-
mental have been reported under "other" and were previously
allocated or charged directly to the several functions listed
above.
40
TABLE 6
Fiscal
year
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
CITY OF EULESS, TEXAS
GENERAL REVENUE BY SOURCE
Last ten years
Taxes
$ 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
3,229,395
Licenses
and fees
$ 31,966
35,984
27, 035
12,568
24,160
56,764
37,039
77,331
119, 383
187,263
Inter-
governmental
revenue
$ 50,474
66,925
62,974
131,636
35,556
41,205
118, 649
129,516
126,671
206,722
Charges
for
services
$14,798
27,475
24,265
23,301
31,556
27,583
27,698
23,827
46,512
34,590
Miscel-
Fines laneous
$ 76,101
109,720
123,847
177,918
193,293
221,650
129,240
151,080
210,772
208,746
$ 53,180
57,000
89,196
102,820
105,850
136,185
195,110
200,111
291,721
443,065
CITY OF EULESS, TEXAS
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR
GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES
Last eight years
Fiscal
year Principal Interest
1974 $155,000 $155,557
1975 70,000 166,558
1976 220,000 235,388
1977 105,000 241,079
1978 110,000 235,448
1979 110,000 229,249
1980 140,000 289,638
1981 145,000 281,839
Total debt
service
$310,557
236,558
455,388
346,079
345,448
339,249
429,638
426,839
Total
general
expenditures
$1,525,887
1,695,283
1,996,464
2,300,608
2,988,774
3,273,938
3,858,901
4,106,120
41
TABLE 7
Ratio of
debt service
to general
expenditures
(percent)
20.35%
13.95
22.81
15.04
11.56
10.38
11.15
10.40
42
TABLE 8
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
Authority for water and sewer
facility:
Operations and maintenance
Debt service
Other
Net accrual revenue available for debt
1981
$3,126,861
125,688
3,252,549
985,189
471,521
8327717
2,289,427
service $ 963,122
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
$ 289,291 $ 411,017
132,334
301,630
182,394
200,000
(142,527)
1 963,122
$ 338,175
247,076
2.85
3.90
132,334
270,257
188,850
200,000
(132,973)
11 , 069, 485.
$ 338,175
250,345
3.16
4.27
43
TABLE 9
Fiscal
year
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
CITY OF EULESS, TEXAS
DEBT SERVICE REQUIREMENTS TO MATURITY -
GENERAL OBLIGATION BONDS
Principal
$ 155,000
165,000
195,000
205,000
215,000
225,000
230,000
240,000
245,000
255,000
275,000
305,000
335,000
335,000
340,000
345,000
245,000
270,000
170,000
75,000
75,000
80,000
80,000
80,000
85,000
$5.225,000
Interest
$ 273,485
264,417
254,938
243,502
231,692
219,763
208,102
195,983
183,592
170,726
156,777
141,991
124,404
105,685
86,950
68,785
53,715
41,085
26,955
21,525
18,600
15,113
11,392
7,673
3,952
$3,130,802
Total
$ 428,485
429,417
449,938
448,502
446,692
444,763
438,102
435,983
428,592
425,726
431,777
446,991
459,404
440,685
426,950
413,785
298,715
311,085
196,955
96,525
93,600
95,113
91,392
87,673
88,952
$8.355.802
44
TABLE 10
Fiscal
,year
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
CITY OF EULESS, TEXAS
DEBT SERVICE REQUIREMENTS TO MATURITY -
WATER AND SEWER REVENUE BONDS
Principal
$ 155,000
160,000
165,000
175,000
180,000
200,000
205,000
210,000
220,000
165,000
135,000
120,000,
35,000
130,000
135,000
145,000
150,000
120,000
160,000
170,000
240,000
190,000
120,000
125,000
$3,810,000
Interest
$ 177,138
170,075
162,700
154,960
146,725
138,175
128,525
118,650
108,450
97,800
88,875
82,800
77,400
75,825
69,975
63,900
57,375
50,625
45,225
38,025
30,375
19,575
11,025
5,625
$2,119,823
Total
$ 332,138
330,075
327,700
329,960
326,725
338,175
333,525
328,650
328,450
262,800
223,875
202,800
112,400
205,825
204,975
208,900
207,375
170,625
205,225
208,025
270,375
209,575
131,025
130,625
$5,929,823
CITY OF EULESS, TEXAS
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
Last eight years
(Unaudited)
Fiscal
year
1974
1975
1976
1977
1978
1979
1980
1981
Real property
Assessed
value
$126,976,300
131,038,410
133,439,320
152,478,400
149,618,690
153,414,790
158,125,200
248,902,180
Estimated
actual value
$195,348,154
201,597,554
205,291,262
234,582,154
230,182,600
236,022,754
243,269,538
248,902,180
Personal
Assessed
value
$11,092,460
14,556,950
17,751,780
18,239,900
22,275,660
24,286,990
20,977,300
31,980,350
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
31,980,350
45
TABLE 11
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
280,882,530
$212,413,477
223,992,862
232,601,692
262,643,538
264,452,846
273,387,354
275,542,307
280,882,530
Ratio of total assessed
to total estimated
actual value
6 5%
65
65
65
65
65
65
100
46
TABLE 12
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
February 24, 1953
July 21, 1962
Area 16.9 square miles
Population:
1960 census
1970 census
1980 census
Building permits issued:
Year ended September 30, 1981
Estimated cost
4,236
19, 316
24,000
410
$21,485,417
Full time City employees:
September 30, 1981 160
Police protection:
Number of stations 1
Number of certified officers 38
Fire protection:
Number of stations 2
Number of certified firefighters 28
Parks and recreation:
Number of swimming pools 3
Number of parks 8
Area of parks 122 acres
Community buildings 2
Library volumes 46,440
Education:
Elementary Schools 6
Junior High Schools 2
High School 1
47
TABLE 12
CITY OF EULESS, TEXAS
MISCELLANEOUS STATISTICAL FACTS
(Unaudited)
(Continued)
City Water and Sewer service:
Water service:
Number of meters at September 30, 1981
Maximum daily capacity available from
Trimity 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
Streets:
Improved
State highways
City's ten largest taxpayers:
Sotogrande Apartment Complex
Texas Power & Light Company
Southwestern Bell Telephone Company
Ector Square Apartments
Concord House Apartments,
Summit Square Apartments, and
Wilbert E. Wiley Properties
Teccor, Inc.
Paso Del oeste Apartments
K Mart Discount Store
Burgundy Square Apartments
First National Bank - Euless
5,870
8,000,000 gallons
4,000,000 gallons
12,000,000 gallons
6,316,000 gallons
3,933,840 gallons
127 miles
460
3,400,000 gallons
5,626
116 miles
Type of business
Apartments
Utility
Utility
Apartments
Apartments
Manufacturer
Apartments
Retail
Apartments
Bank
493
90.8 miles
17.2 miles
Assessed
valuation
$18,915,700
6,004,830
4,954,830
3,852,210
3,326,050
2,740,300
2,945,390
2,858,460
2,507,720
2,439,160