HomeMy WebLinkAboutFY 1979 Financial Statements and Statistical Information - AuditCITY OF EULESS, TEXAS
FINANCIAL STATEMENTS
AND STATISTICAL INFORMATION
YEAR ENDED SEPTEMBER 30, 1979
with
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
ARTHUR YOUNG & COMPANY
CONTENTS
Letter of transmittal
Report of certified public accountants
Financial statements
Exhibit General purpose financial statements Page
A Combined balance sheet - all fund types and
account groups 1
A-1 Combined statement of revenue,
expenditures and changes in fund balances -
general governmental funds 3
A-2 Statement of operations - Water and
Sewer Enterprise Fund 5
A-3 Statement of changes in contributions
and retained earnings - Water
and Sewer Enterprise Fund 6
A-4 Statement of changes in financial
position - Water and Sewer
Enterprise Fund 7
A-5 Statement of revenue - budget and actual -
General Fund 8
A-6 Statement of expenditures - budget and
actual - General Fund 10
A-7 Notes to financial statements - all
funds and accounts 14
Combining and other financial statements
Combining balance sheets:
B-1 Capital Projects Funds
B-2 Trust and Agency Funds
C-1 Comparative balance sheet - Water
and Sewer Enterprise Fund
22
23
24
D-1 Combining statement of revenue,
expenditures and changes in fund
balances - Capital Projects Funds 25
D-2 Combining statement of revenue, expenditures
and changes in escrow deposits and fund
balance - Trust and Agency Funds 26
E-1 Statement of changes in general fixed
assets by source 27
CONTENTS
Table Statistical information Page
1 Property tax levies and collections 28
2 Property tax rates 29
3 Ratio of net general bonded debt to assessed
value and net bonded debt per capita 30
4 Computation of direct and overlapping debt 31
5 General governmental expenditures by function 32
6 General revenue by source 33
7 Ratio of annual debt service expenditures for
general bonded debt to total general
expenditures 34
8 Water and sewer revenue bond coverage 35
9 Debt service requirements to maturity -
general obligation bonds 36
10 Debt service requirements to maturity -
Water and Sewer Revenue Bonds 37
11 Assessed and estimated actual value of
taxable property 38
12 Insurance in force 39
13 Miscellaneous statistical facts 41
PHONE (817) 283-5381 • 201 N. ECTOR DRIVE • EULESS, TEXAS 76039
rill, el
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, 1979 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.
The Municipal Finance Officers Association of the United
States and Canada (MFOA) awarded a Certificate of Conformance in
Financial Reporting to the City of Euless for our Annual Financial
Report for the fiscal year ended September 30, 1978.
In order to be awarded a Certificate of Conformance, a
governmental unit must publish an easily readable and efficiently
organized comprehensive Annual Financial Report, whose contents
conform to industry standards. Such reports must satisfy both
generally accepted accounting principles and applicable legal
requirements.
A Certificate of Conformance is valid for a period of
three years subject to two Annual Reviews. We believe our
current report continues to conform to Certificate of
Conformance Program requirements, and we are submitting it
to MFOA for review.
EULESS 11t1J CI1OtCE, .LJOUR OPPORTUNITY
General Governmental Functions
Revenue for general governmental functions totaled
$3,230,801 in 1979, an increase of 8.68 percent over 1978.
General property taxes produced 52.43 percent of general revenue
compared to 56.15 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
$1,693,852
433,604
521,480
77,331
151,080
223,938
129,516
$3,230,801
Percent
of total
52.43
13.42
16.14
2.39
4.68
6.93
4.01
100.00
Increase
(decrease)
from 1978
$ 70,049
47,385
66,558
40,292
21,840
(36,750)
48,747
$258,121
In addition to the above general revenue, 5200,000 was
transferred from the Water and Sewer Enterprise Fund to the General
Fund.
Expenditures for general governmental purposes totaled
$3,273,938, an increase of 9.54 percent over 1978. 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
Increase
Percent (decrease)
Amount of total from 1978
$ 546,750 16.70 $ 88,250
1,327,831 40.56 92,223
256,149 7.82 55,075
121,043 3.70 19,207
332,003 10.14 11,313
110,000 3.36
229,687 7.02 (5,761)
350,475 10.70 24,857
$3,273,938 100.00 $285,164
Included in the general governmental revenue
is $129,516 received from Federal and State grants. These
funds were applicable generally to law enforcement and parks
and recreation programs.
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, 1979, the general fixed assets of the
City amounted to $9,286,300. 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.
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:
1979 1978
Net income $ 240,562 $256,573
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
124,499 124,499
245,153 234,128
194,841 201,131
200,000 150,000
(119,248) (97,528)
$ 885,807 $868,803
$ 253,415 $256,107
3.50 times 3.39 times
During the year, $130,000 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,
ziesit
James R. Hickerson
Director of Finance
ARTHUR YOUNG & COMPANY
2200 FORT WORTH NATL, BANK BLDG.
FORT WORTH, TEXAS 76102
The Honorable Mayor and
City Council
City of Euless, Texas
We have examined the accompanying financial statements
of the various funds and account groups of the City of Euless,
Texas, for the year ended September 30, 1979, listed in the fore-
going table of contents. We made a similar examination of the
financial statements for the year ended September 30, 1978, which
are not presented herein except for the financial statements of
the Water and Sewer Enterprise Fund which are presented for
comparative purposes. Our examinations were 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 circum-
stances.
In our opinion, the statements mentioned above present
fairly the financial position of the various funds and account
groups of the City of Euless, Texas, at September 30, 1979, and
the financial position of the Water and Sewer Enterprise Fund for
the year ended September 30, 1978, and the results of operations
of such funds and the changes in financial position of the Water
and Sewer Enterprise Fund for the years then ended, in conformity
with generally accepted accounting principles applied on a
consistent basis during the period.
Our examinations have been made primarily for the purpose
of expressing an opinion on the financial statements, taken as a
whole. The accompanying statistical tables are presented for
analysis purposes and are not necessary for a fair presentation
of the financial information referred to in the preceding para-
graph. The statistical tables presented on pages 28 through 42
were not examined by us and, accordingly, we do not express an
opinion on them.
October 26, 1979
GENERAL PURPOSE FINANCIAL STATEMENTS
1
EXHIBIT A
CITY OF EULESS, TEXAS
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
September 30, 1979
ASSETS AND OTHER DEBITS
Cash and short-term investments
Receivables:
Delinquent taxes, net of
allowance for doubtful
collections of $117,000
Proceeds from general obligation
bonds
Assessments
Accounts receivable, net
Other
From other funds
Due from other governments
Inventory
Restricted assets (Notes 2, 3 and 4)
General fixed 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 (Note 5)
Amount available for retirement of
general long-term debt
Amount to be provided for retirement
of general long-term debt
Total assets and other debits
Fiduciary
Governmental fund types fund types
Trust
Debt Capital and
General Service Projects Agency
Fund Fund Funds Funds
$577,816 $201,177 $ 289,964 $236,113 $
80,309 31,751
149,265
1,275
118,608
10,449
5,709
1,100,000
11,264
122,888
Account groups
General
fixed
assets
9,286,300
General
long-term
debt
Sub-
total
(memorandum
only)
- $ 1,305,070
- 112,060
236,326
5,273,674
$943,431 $246,039 $1,524,116 $236,113 $9,286,300 $5,510,000
1,100,000
11,264
162,376
1,275
118,608
133,337
5,709
9,286,300
Water and
Sewer
Enterprise
Fund
$ 770,657
208,312
Total
(memorandum
only)
$ 2,075,727
112,060
1,100,000
11,264
370,688
1,275
118,608
133,337
5,709
1,399,990 1,399,990
9,286,300
- 1,013,291 1,013,291
151,532 151,532
8,605,912 8,605,912
9,770,735 9,770,735
(2,099,863) (2,099,863)
- 7,670,872 7,670,872
5,692,590
236,326
5,273,674
$17,745,999 $15,742,421
5,692,590
236,326
5,273,674
$33,488,420
2
EXHIBIT A
CITY OF EULESS, TEXAS
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
September 30, 1979
(Continued)
LIABILITIES, DEFERRED REVENUE
AND FUND EQUITY
Liabilities:
Payroll taxes and other payables
Customer and developers deposits
Accrued revenue bond interest payable
Due to other funds
Obligations under capitalized water
and sewer facility contracts
(Note 5)
Bonds payable (Note 3)
Total liabilities
Deferred revenue
Fund equity:
Investment in general fixed assets
Contributions from subdividers
and others
Fund balance:
Reserve for recreation equipment
Reserve for unexpended grants
Reserve for inventory
Unreserved
Retained earnings:
Appropriated
Unappropriated
Total fund equity
Total liabilities, deferred
revenues and fund equity
Governmental
General
Fund
$ 17,975
17,975
36,009
8,096
15
5,709
875,627
889,447
$943,431
$
fund types
Debt
Service
Fund
9,713
236,326
236,326
$246,039
See notes to financial statements, Exhibit A-7.
Fiduciary
fund types
Trust
Capital and
Projects Agency
Funds Funds
$ - $ 48,536 $
174,025
118,608
118,608 222,561
29,525
1,375,983
1,375,983
Account groups
General
fixed
assets
$
General Subtotal
long-term (memorandum
debt only)
Water and
Sewer
Enterprise
Fund
Total
(memorandum
only)
- $ 66,511 $ 54,568 $ 121,079
174,025 139,864 313,889
40,119 40,119
118,608 118,608
5,510,000
- 5,510,000
- 9,286,300
13,552
13,552 9,286,300
5,510,000
5,869,144 10,219,839 16,088,983
75,247
- 9,286,300
8,096
15
5,709
2,501,488
- 11,801,608
5,890,288 5,890,288
4,095,000 9,605,000
213,073 288,320
9,286,300
2,732,654 2,732,654
8,096
15
5,709
2,501,488
877,336 877,336
1,699,519 1,699,519
5,309,509 17,111,117
$1,524,116 $236,113 $9,286,300 $5,510,000 $17,745,999 $15,742,421 $33,488,420
CITY OF EULESS, TEXAS
GENERAL GOVERNMENTAL FUNDS
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCES
Year ended September 30, 1979
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
$1,338,053
433,604
521,480
77,331
151,080
163,320
60,618
129,516
2,875,002
11,276
110,996
15,344
191,347
771,499
71,502
506,542
256,149
49,790
92,353
121,043
99,672
185,759
46,572
Debt
Service
Fund
$355,799
3
EXHIBIT A-1
Capital Total
Projects (memorandum
Funds only)
$1,693,852
433,604
521,480
77,331
151,080
4,650 167,970
60,618
308,116
1,478
355,799 314,244
437,630
1,478
3,545,043
11,276
110,996
15,344
191,347
771,499
71,502
506,542
256,149
49,790
92,353
121,043
99,672
185,759
46,572
CITY OF EULESS, TEXAS
GENERAL GOVERNMENTAL FUNDS
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCES
Year ended September 30, 1979
(Continued)
General
Fund
Expenditures:
(continued)
Civic Center $ 53,932
Nondepartmental 350,475
Interest on bonds
Matured bonds
Service charges
Capital outlays
Total expenditures 2,934,251
Other financing sources
(uses):
Proceeds from general
obligation bonds
Transfers from (to)
other funds
Total other
financing
sources
Excess of total
revenue and other
sources over total
expenditures and
other uses
Increase in inventory
reserve
Unreserved fund balances
beginning of year
Unreserved fund bal-
ances, end of year
1
232,977
232,977
173,728
(1,614)
703,513
Debt
Service
Fund
$
$
229,249
110,000
438
339,687
4
EXHIBIT A-1
Capital Total
Projects (memorandum
Funds only)
847,934
847,934
$ 53,932
350,475
229,249
110,000
438
847,933
4,121,871
- 1,100,000 1,100,000
16,112
220,214
(32,977) 200,000
1,067,023 1,300,000
533,333
842,650
723,172
(1,614)
1,766,377
$ 875,627 $236,326 $1,375,983 $2,487,935
See notes to financial statements, Exhibit A-7.
5
EXHIBIT A-2
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF OPERATIONS
Years ended September 30, 1979 and 1978
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
Transfers to general fund
Interest on water and sewer facility
contract rights
Net income
1979
$1,485,836
770,572
20,160
81,915
2,358,483
1,036,558
1,321,925
124,499
245,153
952,273
82,176
194,841
200,000
399,046
793,887
1978
$1,493,339
726,735
7,979
64,466
2,292,519
1,017,778
1,274,741
124,499
234,128
916,114
98,665
201,131
150,000
407,075
758,206
$ 240,562 $ 256,573
See notes to financial statements, Exhibit A-7.
6
EXHIBIT A-3
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF CHANGES IN CONTRIBUTIONS AND RETAINED EARNINGS
Years ended September 30, 1979 and 1978
Contributions from subdividers and others:
Balance, beginning of year
Add: Capital contributions from
subdividers
Balance, end of year
Retained earnings, unappropriated:
Balance, beginning of year
Net income
Balance, end of year
1979
$2,157,088
575,566
$2,732,654
$1,458,957
240,562
$1,699,519
1978
$1,843,368
313,720
$2,157,088
$1,202,384
256,573
$1,458,957
See notes to financial statements, Exhibit A-7.
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
Years ended September 30, 1979 and 1978
Funds provided:
Operations:
Net income
Expenses not requiring current outlay
of funds:
Depreciation and amortization
Total funds provided by operations
Contributions in aid to construction
Decrease in restricted assets
Book value of asset disposals
Total funds provided
Funds used:
Decrease in obligations under capitalized
water and sewer facility contract rights
(Note 5)
Additions to utility plant in service
Retirement of revenue bonds
Decrease in deferred revenue
Increase in restricted assets
Total funds used
Increase (decrease) in working capital
Changes in components of working capital:
Increase (decrease) in current assets:
Cash and short-term investments
Accounts receivable
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 (decrease) in working capital
See notes to financial statements,
1979
$ 240,562
369,652
610,214
575,566
126,226
1,312,006
148,787
753,818
140,000
7,800
1,050,405
$ 261,601
$ 323,094
5,997
16,656
19,000
364,747
10,000
29,539
54,568
10,287
(1,248)
103,146
$ 261,601
Exhibit A-7.
7
EXHIBIT A-4
1978
$ 256,573
358,627
615,200
313,720
700
929,620
103,364
344,268
130,000
7,800
404,841
990,273
$ (60,653)
(117,808)
47,763
15,483
(54,562)
5,000
5,836
(10,976)
6,901
(670)
6,091
$ (60,653)
8
EXHIBIT A-5
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF REVENUE - BUDGET AND ACTUAL
Year ended September 30, 1979
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
$1,282,874
20,000
1,302,874
Actual
revenue
$1,298,302
39,751
1,338,053
Actual
over
(under)
$ 15,428
19,751
35,179
90,000 97,759 7,759
220,000 229,585 9,585
60,000 66,982 6,982
9,500 9,562 62
20,000 29,565 9,565
300 151 (149)
399,800 433,604 33,804
425,000 521,480 96,480
13,600 24,384 10,784
4,000 7,266 3,266
2,880 7,178 4,298
2,700 2,513 (187)
1,000 28,010 27,01.0
2,850 2,668 (182)
4,800 5,312 512
31,830 77,331 45,501
165,000 146,763 (18,237)
4,100 4,317 217
169,100 151,080 (18,020)
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF REVENUE - BUDGET AND ACTUAL
Year ended September 30, 1979
(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
$ 95,000
2,500
6,027
3,000
1,500
11,000
750
25,000
49,777
$2,473,381
9
EXHIBIT A--5
Actual
revenue
$ 163,320
129,516
2,440
6,027
3,000
2,335
27,763
808
18,245
60,618
$2,875,002
Actual
over
(under)
$ 68,320
129,516
(60)
835
16,763
58
(6,755)
10,841
$401,621
See notes to financial statements, Exhibit A-7.
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1979
City Council:
Supplies
Other services and charges
General Government:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Civil Service:
Personnel services
Supplies
Other services and charges
Service Center:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Law Enforcement:
Police Department:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
10
EXHIBIT A-6
Actual
over
Budget Expenditures (under)
$ 5,500 $ 3,374
8,000 7,902
13,500 11,276
106,058 99,141
1,000
1,250 1,275
20,700 10,580
1,000
130,008 110,996
14,631 14,202
500 125
2,550 1,017
17,681 15,344
103,731 99,317
42,300 61,750
21,300 29,396
1,150 245
2,500 639
170,981 191,347
830,866
27,400
5,300
22,260
31,950
917,776
$ (2,126)
(98)
(2,224)
(6,917)
(1,000)
25
(10,120)
(1,000)
(19,012)
(429)
(375)
(1,533)
(2,337)
(4,414)
19,450
8,096
(905)
(1,861)
20,366
714,493 (116,373)
27,825 425
9,517 4,217
17,757 (4,503)
1,907 (30,043)
771,499 (146,277)
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1979
(Continued)
Law Enforcement: (continued)
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
Street Department:
Personnel services
Supplies
Maintenance
Other services and charges
Traffic Safety Administration:
Personnel services
Supplies
Maintenance
Other services and charges
11
EXHIBIT A-6
Budget Expenditures
$ 53,503
1,500
750
22,230
250
78,233
996,009
505,387
18,000
9,800
5,875
539,062
136,702
10,559
118,000
5,775
271,036
23,986
3,800
19,200
1,400
48,386
Actual
over
(under)
$ 46,996 $ (6,507)
1,044 (456)
324 (426)
23,138 908
(250)
71,502 (6,731)
843,001 (153,008)
478,770 (26,617)
12,155 (5,845)
11,897 2,097
3,720 (2,155)
506,542 (32,520)
128,763 (7,939)
8,945 (1,614)
113,794 (4,206)
4,647 (1,128)
256,149 (14,887)
22,194
273
26,071
1,252
49,790
(1,792)
(3,527)
6,871
(148)
1,404
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1979
(Continued)
Building and Zoning Department:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
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
12
EXHIBIT A-6
Budget Expenditures
$ 87,905
1,175
200
3,750
6,150
99,180
97,867
2,800
2,900
19,343
19,415
142,325
74,720
9,050
800
20,644
5,435
110,649
141,792
15,500
16,300
4,890
13,500
191,982
$ 84,368
1,121
126
6,738
92,353
89,201
3,448
946
8,161
19,287
121,043
79,208
9,690
670
4,892
5,212
99,672
142,257
15,626
16,299
4,834
6,743
185,759
Actual
over
(under)
$ (3,537)
(54)
(74)
2,988
(6,150)
(6,827)
(8,666)
648
(1,954)
(11,182)
(128)
(21,282)
4,488
640
(130)
(15,752)
(223)
(10,977)
465
126
(1)
(56)
(6,757)
(6,223)
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL
Year ended September 30, 1979
(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
$ 32,400
6,200
6,520
675
5,135
50,930
30,247
5,450
11,550
1,500
17,220
65,967
5,000
12,000
250,750
267,750
$3,115,446
13
EXHIBIT A-6
Expenditures
$ 33,753
5,212
4,743
624
2,240
46,572
21,627
4,634
9,206
1,451
17,014
53,932
1,848
10,662
337,965
350,475
Actual
over
(under)
$ 1,353
(988)
(1,777)
(51)
(2,895)
(4,358)
(8,620)
(816)
(2,344)
(49)
(206)
(12,035)
(3,152)
(1,338)
87,215
82,725
$2,934,251 $(181,195)
See notes to financial statements, Exhibit A-7.
14
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1979
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.
15
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1979
1. 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 Capital Projects Funds and Water and Sewer Enterprise
Fund and the modified accrual basis for the General Fund,
Debt Service Funds and Trust and Agency Funds. Under the
modified accrual basis, revenues are recognized in the year
16
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1979
1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
in which they become available and measurable and expendi-
tures, other than interest on general long-term debt,
in the period in which the liability is incurred.
The City's annual budget 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 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
17
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1979
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
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
Retirement System which covers all eligible fulltime employees.
The total pension expense for the year was approximately
$77,500 and $11,800 for the General Fund and Water and
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.
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.
18
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1979
3. BONDS PAYABLE
Bonded debt outstanding
of the following:
General obli-
gation bonds
Water and Sewer
Revenue Bonds
Range of
interest
rates
at September 30, 1979
Unpaid
balance Current
@ 9-30-79 maturities
3.6 to 7.5% $5,510,000
4.5 to 6%
4,095,000
$9,605,000
$140,000
140,000
$280,000
consists
Long-term
maturities
$5,370,000
3,955,000
$9,325,000
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
ties for the next
1980
1981
1982
1983
1984
Thereafter
Less interest
Principal
five years is as follows:
General long-
term debt
$ 429,637
426,839
428,485
429,417
449,938
7,047,962
9,212,278
3,702,278
$5,510,000
Water and Sewer
Revenue Bonds
$ 330,175
328,800
332,138
330,075
327,700
4,939,910
6,588,798
2,493,798
$4,095,000
bond maturi-
Total
$ 759,812
755,639
760,623
759,492
777,638
11,987,872
15,801,076
6,196,076
$ 9,605,000
General obligation bonds of $900,000 and $200,000
for street and park improvements, respectively, were issued in
1979.
General obligation bonds authorized and unissued as of
September 30, 1979, amounted to $2,845,000. Water and Sewer
19
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1979
3. BONDS PAYABLE (continued)
Revenue Bonds authorized and unissued as of September 30, 1979,
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 funds 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.
All requirements for funding of the above reserves
were met at September 30, 1979.
20
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1979
3. BONDS PAYABLE (continued)
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
exceed 32.33% of the requirement on the amount of bonds then
outstanding. As of September 30, 1979, $1,650,000 (28.45%) 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 44 years to
share in the costs of operations, maintenance and debt service
21
EXHIBIT A-7
CITY OF EULESS, TEXAS
NOTES TO FINANCIAL STATEMENTS - ALL FUNDS AND ACCOUNTS
September 30, 1979
5. WATER AND SEWER FACILITY CONTRACT RIGHTS (continued)
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 estimated based on its
current usage. The following is a schedule by 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, 1979:
Year ending September 30:
1980 $ 522,557
1981 521,679
1982 521,401
1983 518,006
1984 515,247
Thereafter 8,228,921
10,827,811
Less amount representing interest 4,937,523
Present value of minimum requirements $ 5,890,288
Total payments under these contracts approximated
$917,000 and $1,015,000 in 1979 and 1978, respectively.
COMBINING AND OTHER FINANCIAL STATEMENTS
22
EXHIBIT B-1
CITY OF EULESS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEETS
September 30, 1979
ASSETS
Cash and short-term
investments
Due from sale of general
obligation bonds
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
Total
$ 289,964
1,100,000
65,842
11,264
57,046
$1,524,116
$ 118,608
11,264
18,261
29,525
1,375,983
$1,524,116
Street
Improvement
and Drainage
Fund
$ 78,585
900,000
11,264
$989,849
Park and
Recreation
Fund
$ 73,903
200,000
57,046
Revenue
Sharing
Fund
65,842
Public
Safety
Fund
$137,476
$330,949 $65,842 $137,476
$ - $114,266 $ 4,342 $
11,264
18,261
29,525
960,324
$989,849
See notes to financial statements, Exhibit A-7.
216,683 61,500 137,476
$330,949 $65.842 $137,476
23
EXHIBIT B-2
CITY OF EULESS, TEXAS
TRUST AND AGENCY FUNDS
COMBINING BALANCE SHEETS
September 30, 1979
ASSETS
Cash and short-term investments
LIABILITIES AND FUND BALANCES
Liabilities:
Payroll taxes payable
Other current liabilities
Escrow deposits
Total liabilities
Fund balances
Total
$236,113
Social
Security
Fund
$62,088
$ 45,808 $45,808
2,728 2,728
174,025
222,561
48,536
13,552 13,552
$236,113 $62,088
Escrow
Fund
$174,025
$
174,025
174,025
$174,025
See notes to financial statements, Exhibit A-7.
24
EXHIBIT C-1
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
BALANCE SHEET
September 30, 1979 and 1978
ASSETS
Current assets:
Cash and short-term investments
Accounts receivable, less allowance
for estimated uncollectable accounts
of $7,963 in 1979 and $3,090 in 1978
Accrued interest receivable
Accounts receivable - other
Total current assets
Restricted assets:
Revenue bond debt service: (Note 3)
Cash with paying agent
Revenue bond reserve: (Note 3)
Cash with paying agent
Investments with paying agent, at cost
Revenue bond contingency: (Note 3)
Cash and short-term investments
Property sale proceeds accounts: (Note 4)
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 $532,273 and
$407,775 in 1979 and 1978 (Note 5)
1979 1978
$ 770,657 $ 447,563
157,173 151,176
32,139 15,483
19,000
978,969 614,222
79,388 79,388
8,447 8,447
266,213 266,213
100,000 100,000
423,288 423,288
377,406 513,919
139,864 129,577
5,384 5,384
1,399,990 1,526,216
1,013,291 1,013,291
151,532 129,575
8,605,912 7,880,654
9,770,735 9,023,520
2,099,863 1,861,312
7,670,872 7,162,208
5,692,590 5,817,088
$15,742,421 $15,119,734
LIABILITIES, CONTRIBUTIONS
AND RETAINED EARNINGS
Current liabilities:
Payable from current assets:
Current portion of revenue bonds
(Note 3)
Current portion of obligations under
capitalized water and sewer contract
rights (Note 5)
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 (Note 5)
Revenue bonds (Note 3)
Total liabilities
Deferred revenues
Contributions:
From subdividers
From Environmental Protection Agency
From Trinity River Authority
Total contributions
Retained earnings:
Reserves: (Note 3)
For revenue bond debt service,
next maturing
For revenue bond retirement
For contingency
Total reserves (appropriated)
Unappropriated
Total retained earnings
1979
1978
$ 140,000 $ 130,000
103,364
129,577
41,367
404,308
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
1,699,519
2,576,855
$15,742,421
5,906,172
4,095,000
10,405,480
220,873
1,902,471
239,617
15,000
2,157,088
79,388
274,660
523,288
877,336
1,458,957
2,336,293
$15,119,734
See notes to financial statements, Exhibit A-7.
25
EXHIBIT D-1
CITY OF EULESS, TEXAS
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCES
Year ended September 30, 1979
Revenue:
Interest income
Paving assessments
Federal Revenue Sharing
Other grants and
transfers
Expenditures:
Capital outlays
Other financing sources
(uses):
Transfers to other funds
General obligation
bonds proceeds
Total
Street
Improvement Park and Revenue Public
and Drainage Recreation Sharing Safety
Fund Fund Fund Fund
$ 4,650 $ - $ - $ 4,650 $
1,478 1,478
263,359 263,359
44,757 42,779 1,978
314,244 1,478 42,779 269,987
847,934 441,565 99,825 306,359
(32,977) - - (32,977)
1,100,000 900,000 200,000
1,067,023 900,000 200,000 (32,977)
185
Excess (deficiency) of
revenue and other
resources over expendi-
tures and transfers 533,333 459,913 142,954 (69,349) (185)
Fund balances,
beginning of year 842,650 500,411 73,729 130,849 137,661
Fund balances,
end of year $1,375,983 $960,324 $216,683 $ 61,500 $137,476
See notes to financial statements, Exhibit A-7.
CITY OF EULESS, TEXAS
TRUST AND AGENCY FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN ESCROW DEPOSITS AND FUND BALANCE
Year ended September 30, 1979
Transfers:
From other funds for Social
Security, federal income taxes
withheld, employees insurance
premiums and employee United
Fund deductions
Subdivider escrow deposits
Expenditures:
For Social Security, federal
income taxes withheld,
employees insurance premiums
and employee United Fund
deductions
Escrow deposits returned to
subdividers
Transfer to General Fund
Increase in escrow deposits
and fund balances $ 83,989 -
Fund balance, beginning of year 13,552
Fund balance, end of year $ 13,552
26
EXHIBIT D-2
Social
Security Escrow
Total Fund Fund
$ 584,146 $584,146 $ -
1,224,971 1,224,971
1,809,117 584,146 1,224,971
584,146 584,146 -
1,111,450 1,111,450
1,695,596 584,146 1,111,450
29,532 - 29,532
83,989
See notes to financial statements, Exhibit A-7.
27
EXHIBIT E-1
CITY OF EULESS, TEXAS
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS
BY SOURCE
Balance, beginning of
year
Add:
Expenditures from
bond proceeds
Expenditures from
grants
Expenditures from
current revenue
Expenditures from
revenue sharing
Expenditures from
developers'
contributions
Projects completed
Total additions
Deduct:
Disposals of
fixed assets
Projects completed
Total deductions
Balance, end of
year
Year ended September 30, 1979
Total
Land and
buildings
$8,100,329 $2,357,056
370,470
3,800
66,991
233,135
545,002
78,245
1,297,643
33,427
78,245
111,672
Improvements
other than
buildings
$4,598,677
- 370,470
1,451
91,001
78,245
170,697
49,723
545,002
965,195
Machinery
and
equipment
Construction
in
progress
$1,066,351 $78,245
3,800
15,817
142,134
161,751
33,427
33,427
$9,286,300 $2,527,753 $5,563.872 $1,194,675 $
See notes to financial statements, Exhibit A-7.
78,245
78,245
STATISTICAL INFORMATION
28
TABLE 1
Fiscal year
1975
1976
1977
1978
1979
CITY OF EULESS, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS
Last five years
Total tax
levy
$1,237,576
1,285,139
1,604,752
1,630,303
1,670,397
Current tax
collections
$1,136,105
1,179,161
1,456,507
1,507,458
1,583,829
Percent
of levy
collected
91.80%
91.75
90.76
92.46
94.82
Delinquent
tax
collections
$51,805
97,107
48,244
90,383
171,253
Total tax
collections
$1,187,910
1,276,268
1,504,751
1,597,841
1,755,082
Percent of
total tax
collections
to tax levy
95.99%
99.31
93.77
98.01
104.70
Outstanding
delinquent
taxes
$190,509
188,043
283,394
306,769
222,084
Percent of
delinquent
taxes to
tax levy
15.39%
14.63
17.66
18.82
13.30
29
TABLE 2
Fiscal year
CITY OF EULESS, TEXAS
PROPERTY TAX RATES PER $100 OF ASSESSED VALUE
Last six years
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
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.
30
TABLE 3
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
24,950
26,800
27,600
27,300
26,900
27,450
Last six years
Assessed
value
$138,068,760
145,595,360
151,191,100
170,718,300
171,894,350
177,701,780
Gross
bonded
debt
$3,625,000
3,555,000
4,735,000
4,630,000
4,520,000
5,510,000
Less debt
service funds
*Estimates by North Central Texas Council of Governments
$285,211
237,135
136,255
143,138
170,049
201,177
Net bonded
debt
$3,339,789
3,317,865
4,598,745
4,486,862
4,349,951
5,308,823
Ratio of net
bonded debt to
assessed value
41.34
43.88
32.88
38.05
39.52
33.47
Net bonded
debt
per capita
$133.86
123.80
166.62
164.35
161.71
193.40
CITY OF EULESS, TEXAS
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
September 30, 1979
Jurisdiction
City of Euless
Grapevine Independent
School District
Hurst -Euless -Bedford
Independent School District
Tarrant County
Tarrant County Hospital
District
Tarrant County Junior
College District
Total direct and
overlapping debt
Net debt
outstanding
$ 5,308,823
13,978,000
27,139,000
5,621,536
19,110,976
Percent
applicable
to City of
Euless
100.00
9.04
25.64
5.04
5.04
5.04
31
TABLE 4
Amount
applicable
to City of
Euless
$ 5,308,823
1,263,611
6,958,440
283,325
963,193
$14,777,392
CITY OF EULESS, TEXAS
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION
Last Nine 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
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
$ 65,276
78,094
107,415
146,882
159,446
166,229
177,625
201,074
256,149
Culture -
recreation
$138,762
156,751
193,761
280,161
329,427
373,960
367,944
422,526
453,046
32
TABLE 5
Debt
service Other*
$118,021
164,324
162,134
310,557
236,558
455,388
346,079
335,448
339,687
$
289,670
325,618
350,478
*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.
33
TABLE 6
Fiscal
year
1971
1972
1973
1974
1975
1976
1977
1978
1979
CITY OF EULESS, TEXAS
GENERAL REVENUE BY SOURCE
Last Nine 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
$40,464
31,966
35,984
27,035
12,568
24,160
56,764
37,039
77,331
Inter-
governmental
revenue
$ 21,204
50,474
66,925
62,974
131,636
35,556
41,205
118,649
129,516
Charges
for
Services
$13,959
14,798
27,475
24,265
23,301
31,556
27,583
27,698
23,827
Miscel-
Fines laneous
$ 57,002 $ 41,288
76,101 53,180
109,720 57,000
123,847 89,196
177,918 102,820
193,293 105,850
221,650 136,185
129,240 195,110
151,080 200,111
Fiscal
year
1974
1975
1976
1977
1978
1979
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
Last Six Years
Interest
$155,557
166,558
235,388
241,079
235,448
229,249
Total debt
service
$310,557
236,558
455,388
346,079
345,448
339,687
Total
general
expenditures
$1,525,887
1,695,283
1,996,464
2,300,608
2,988,774
3,273,938
34
TABLE 7
Ratio of
debt service
to general
expenditures
(percent)
20.35%
13.95
22.81
15.04
11.56
10.38
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)
1979
$2,358,483
82,176
2,440,659
398,638
518,294
637,920
1,554,852
$ 885,807
$ 240,562
124,499
245,153
194,841
200,000
(119,248)
$ 885,807
35
TABLE 8
1978
$2,292,519
98,665
2,391,184
510,878
504,603
506,900
1,522,381
$ 868,803
$ 256,573
124,499
234,128
201,131
150,000
(97,528)
$ 868,803
$ 338,175 $ 338,175
253,415 256,107
2.62
3.50
2.57
3.39
36
TABLE 9
CITY OF EULESS, TEXAS
DEBT SERVICE REQUIREMENTS TO MATURITY -
GENERAL OBLIGATION BONDS
Fiscal
year Principal Interest Total
1980 $ 140,000 $ 289,637 $ 429,637
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
$5,510,000 $3,702,278 $9,212,278
37
TABLE 10
CITY OF EULESS, TEXAS
DEBT SERVICE REQUIREMENTS TO MATURITY -
WATER AND SEWER REVENUE BONDS
Fiscal
year Principal Interest Total
1980 $ 140,000 $ 190,175 $ 330,175
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
$4,095,000 $2,493,798 $6,588,798
38
TABLE 1.1
Fiscal
year
1974
1975
1976
1977
1978
1979
CITY OF EULESS, TEXAS
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
Real property
Assessed Estimated
value
$126,976,300
131,038,410
133,439,320
152,478,400
149,618,690
153,414,790
actual value
$195,348,154
201,597,554
205,291,262
234,582,154
230,182,600
236,022,754
Personal
Assessed
value
$11,092,460
14,556,950
17,751,780
18,239,900
22,275,660
24,286,990
property
Estimated
actual value
$17,065,323
22,395,308
27,310,430
28,061,384
34,270,246
37,364,600
Total Ratio of total assessed
Assessed Estimated to total estimated
value actual value actual value
$138,068,760
145,595,360
151,191,100
170,718,300
171,894,350
177,701,780
$212,413,477
223,992,862
232,601,692
262,643,538
264,452,846
273,387,354
65%
65
65
65
65
65
CITY OF EULESS, TEXAS
INSURANCE IN FORCE
September 30, 1979
Expires Insurers
39
TABLE 12
Amount of
insurance
Fire, extended coverage and
vandalism & malicious
mischief, 80% coinsurance:
Library:
Building 12- 1-79 2 $ 234,000
Contents 12- 1-79 2 100,000
City Offices:
Building 12- 1-79 2 650,000
Contents 12- 1-79 2 100,000
Community Center -
Ector:
Building 12- 1-79 2 272,000
Contents 12- 1-79 2 8,000
Fire Station - #1:
Building 12- 1-79 2 36,000
Contents 12- 1-79 2 8,000
Public Safety Building:
Building 12- 1-79 2 500,000
Contents 12- 1-79 2 225,000
Fire Station - #2:
Building 9- 3-82 2 80,000
Contents 9- 3-82 2 8,000
Community Center - Simmons:
Building 9-12-80 2 95,000
Contents 9-12-80 2 10,000
Vehicle Center:
Building 7- 8-80 2 150,000
Contents 7- 8-80 2 20,000
Animal Control:
Building 7- 8-80 2 110,000
Contents 7- 8-80 2 5,000
House - building only:
114 N. Sheppard 4-10-80 4 10,000
134 N. Sheppard 4-20-80 4 11,000
116 N. Shepoard 4-20-80 4 10,000
110 N. Sheppard 11-25-81 4 13,000
Scheduled water & sewer
property 9- 3-82 6 466,400
CITY OF EULESS, TEXAS
INSURANCE IN FORCE
September 30, 1979
(Continued)
Fire, extended coverage and
vandalism & malicious
mischief, 80% coinsurance:
(continued)
Comprehensive glass
breakage:
City offices, library
& Ector Community
Center
Vehicle liability - all vehicles:
Bodily Injury - 100/300,000
Property Damage - 10,000
Vehicle physical damage - fire &
theft & Combined Additional
Coverage (CAC -acts of God) ACV;
Collision $250 ded.
Amusement liability - bodily
injury & property damage
Public employees blanket bond:
Specific employees
All other employees
Notary Public Bonds - various
Workmen's Compensation
Builders' Risk:
Improvements to City Hall
Expires Insurers
40
TABLE 12
Amount of
insurance
9-28-80 1 $ Scheduled
9-14-80 3 BI100/300,000
PD 10,000
9-14-80 3 F,T,CAC ACV
Col].Ded.$250
9- 3-80 3 BI 300,000
PD 10,000
2- 6-80 5
7,500
2,500
Various 5 Prior 8-1-77
1,000 ea
After 2,500ea
7- 1-80 3
5-19-80 1
Insurers:
1. United States Fire Insurance Co.
2. North River Insurance Co.
3. International Insurance Co.
4. Trinity University Insurance Co. of Kansas
5. Trinity University Insurance Co.
6. Lloyds -Commonwealth Insurance Co.
This statement is intended only as a descriptive summary; no
expression of opinion as to the adequacy of the coverage is
intended.
175,000
41
TABLE 13
CITY OF EULESS, TEXAS
MISCELLANEOUS STATISTICAL FACTS
Date of incorporation February 24, 1953
Date of adoption of Charter July 21, 1962
Form of government:
Home Rule, Council -Manager
Mayor - elected at large
Five council members
Area 16.9 square miles
Population:
1960 census 4,236
1970 census 19,316
1979 estimated 27,450
Building permits issued:
Year ended September 30, 1979 215
Estimated cost $13,243,497
Full time City employees:
September 30, 1979 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 43,398
Education:
Elementary Schools 6
Junior High Schools 2
High School 1
42
TABLE 13
CITY OF EULESS, TEXAS
MISCELLANEOUS STATISTICAL FACTS
(Continued)
City Water and Sewer service:
Water service:
Number of meters at September 30, 1979
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
Steets:
Improved
State highways
City's ten largest taxpayers:
Principal taxpayers
Sotogrande Apartment Complex
Texas Power & Light
Southwestern Bell Telephone Company
Reliance Telecom Electronics
Company
Ector Square Apartments
Teccor, Inc.
Integrated Building Corp.
Bell Operations Corp.
Paso Del Oeste Apartments
Burgundy Square Apartments
5,453
4,000,000 gallons
4,500,000 gallons
8,500,000 gallons
5,316,000 gallons
3,433,840 gallons
110 miles
449
2,600,000 gallons
5,249
98 miles
493
142 miles
17.2 miles
Type of business
Apartments
Utility
Utility
Manufacturer
Apartments
Manufacturer
Land
Management
Apartments
Apartments
Assessed
valuation
$10,979,540
2,724,510
2,611,670
2,603,650
2,503,950
2,365,600
2,163,600
2,027,750
1,914,450
1,630,000
CITY OF EULESS, TEXAS
Jl,f7P LULL J
WATER AND SEWER ENTERPRISE FUND
SCHEDULE OF OPERATING EXPENSES
Year ended September 30, 1978 t Al c'1
/ 9-
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
Contingencies and other
Water distribution:
Salaries and wages
Employee benefits
Operating supplies and expense
Maintenance of structures and
equipment
Contractual services
Contingencies and other
1i7
$ 52,292
10,959
8,049
1,655
548
2,321
75,824
57,912
10,791
4,827
3,230
408,019
935
485,714
77,122
16,288
7,827
25,035
640
15,669
142,581
SCHEDULE 5
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
SCHEDULE OF OPERATING EXPENSES
Year ended September 30, 1978
(Continued)
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
Contingencies and other
Nondepartmental:
Employee benefits
Operating supplies and expense
Contractual services
Total operating expenses, excluding
depreciation and interest expense
$ 53,293
12,264
5,777
6,084
1,055
/ o 3 / C. 102,869
y, 9 L 20,520
1 r3i6,5 8/ 201,862
/�z 122
227 3l? 17,355
// $, Y5-a- 94,320
111,797
$1,017,778