HomeMy WebLinkAboutFY 1976 Financial Statements and Supplementary Information - AuditCITY OF EULESS, TEXAS
FINANCIAL STATEMENTS
AND SUPPLEMENTARY INFORMATION
YEAR ENDED SEPTEMBER 30, 1976
with
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
ARTHUR YOUNG & COMPANY
Exhibit A
Exhibit A-1
Exhibit A-2
Exhibit A-3
Exhibit A-4
Exhibit A-5
Exhibit B
Exhibit B-1
Exhibit B-2
Exhibit B-3
Exhibit C
Exhibit C-1
Exhibit C-2
Exhibit D
Exhibit D-1
Exhibit D-2
CONTENTS
The Municipal Finance Officers Association
Certificate of Conformance
Letter of transmittal
Report of certified public accountants
Financial statements
Page
1
Combined balance sheet - all funds 2
Combined statement of cash receipts
and expenditures - all funds 3
Combined schedule of changes in
taxes receivable 4
Combined schedule of taxes receivable
by funds 4
Combined schedule of bonds payable 5
Combined schedule of cash and investments 6
General Fund
Balance sheet 7
Analysis of changes in fund balance 8
Statement of revenues - estimated
and actual 9-10
Statement of expenditures compared
with budget 11-15
Notes to financial statements 16
Debt Service Fund
Balance sheet 17
Analysis of changes in
fund balance 17
Statement of revenues and expenditures 18
Notes to financial statements 19
Capital Projects Funds
Balance sheet 20
Statement of cash receipts and
disbursements 21
Statement of expenditures compared
with appropriations 22
Notes to financial statements 23
Exhibit E
Exhibit E-1
Exhibit E-2
Exhibit E-3
Exhibit E-4
Exhibit F
Exhibit F-1
Exhibit G
Exhibit G-1
Exhibit G-2
Exhibit H
Table I
Table II
Table III
Table IV
Table V
Table VI
Table VII
Table VIII
CONTENTS
Financial statements (continued) Page
Water and Sewer Enterprise Fund
Balance sheet
Analysis of changes in retained earnings
Statement of revenues and expenses
actual and budgeted
Statement of changes in financial position
Notes to financial statements
Schedule of operating expenses
budgeted and actual
Trust and Agency Funds
Balance sheet
24
25
26
27
28-30
31-32
33
Statement of cash receipts and disbursements 34
General Fixed Assets
Statement of general fixed assets
Statement of changes in general fixed
assets by source
Schedule of general fixed assets classified
by departments
Note to financial statements
General Long -Term Debt
Statement of general long-term debt
Supplementary information - statistical data
Tax levies and tax collections
Tax rates and tax levies
Revenues - other than property taxes
Expenditures for selected functions
General obligation bonds other than water
and sewer revenue debt service charges
Revenue water and sewer bonds debt
service charges
Insurance in force
Miscellaneous statistical facts
35
36
37
38
39
40
41
42
43
44
45
46-47
48-50
SUPPLEMENTAL
Certificate
of
Conformance
in Financial
Reporting
Presented to
City of Euless, texas
For its Annual Financial Report
for the Fiscal Year Ended
September 30,19'75
A Certificate of Conformance in Financial Reporting is presented
by the Municipal Finance Officers Association of the United States and Canada
to governmental units whose annual financial reports are judged to
substantially conform to the financial reporting principles and
standards promulgated by the National Council on Governmental Accounting.
Pres ent
aiee
Executive Director
Date October 19,1976
PHONE 283-5381 . 201 N. ECTOR DRIVE . EULESS, TEXAS 76039
rethe
October 31, 1976
Honorable Harold Samuels,
Mayor and City Council
City of Euless
Euless, Texas
Gentlemen:
The annual financial report of the City of Euless, Texas,
for the fiscal year ended September 30, 1976, is submitted herewith.
Accounting System and Reports
The City's accounting records for general governmental
operations are maintained on a modified accrual basis, wherein
revenues are reported primarily when collected and expenditures when
incurred. Accounting records for the City's utility are maintained
on a full accrual basis. In accordance with prescribed standards,
depreciation of general fixed assets is not recognized in the City's
accounting system; however, depreciation on the depreciable property
of the Water and Sewer Enterprise Fund is recognized in the accounts
and is computed on the expected useful life of the assets.
All operating funds of the City function under an annual
budget which shows estimated revenues and authorized expenditures
by funds.
On October 19, 1976 the Municipal Finance Officers
Association of the United States and Canada awarded its Certificate
of Conformance for financial reporting for the annual financial
report of the City of Euless for the year ended September 30, 1975.
This report was judged to substantially conform to the high standards
for financial reporting promulgated by that Association and the
National Council on Governmental Accounting. We believe our present
annual report continues to substantially conform to such standards.
In order to maintain the validity of the Certificate of Conformance
this report will be submitted to MFOA for an annual review. A
Certificate of Conformance was first awarded to this governmental
unit for its annual financial report the fiscal year ended
September 30, 1964.
EULESS MY CHOICE, YOUR OPPORTUNITY ����
General Comments
Information as to the City's tax assessments and collec-
tions, bonded indebtedness, insurance in force, water and sewer
revenue bond coverage and other miscellaneous data is contained in
tables under "Statistical Data" in the annual financial report.
The significant net changes during the year in the balances of the
principal operating funds of the City may be summarized as follows:
General Fund:
Cash and investments
Total revenues
Total expenditures
Water and Sewer Enterprise Fund:
Cash and investments
operating
Retained earnings, reserves
and contributions
Increase
1976 1975 (decrease)
$ 356,416 $ 407,863
$1,886,608 $1,779,390
$1,996,464 $1,695,283
$ (51,447)
$ 107,218
$ 301,181
$ 525,531 $ 895,140 $(369,609)
$3,197,035 $2,908,929 $ 288,106
Securities have been pledged by depository banks sufficient
to secure the City's funds on deposit with such banks.
Ordinances authorizing the issuance of the City's water and
sewer revenue bonds have been read and in accordance with the require-
ments of such ordinances, a total of $100,000 has been restricted for
emergencies. Other reserve and accounting requirements of the
ordinances have been met.
The City has retired a total of $1,650,000 of revenue bonds
with proceeds from the sale of water and sewer facilities to the City
of Bedford, and $423,288 of principal proceeds remains on deposit
with the City's paying agent in New York City.
Independent Audit
The books of account, financial records and transactions of
all administrative departments of the City are subject to audit
annually by certified public accountants selected by the City Council.
The report of Arthur Young & Company, Certified Public Accountants,
is included with this report.
Respectfully submitted,
James R. Hickerson
Director of Finance
ARTHUR YOUNG & COMPANY
2200 FORT WORTH NATL. BANK BLDG.
FORT WORTH, TEXAS 76102
Honorable Harold Samuels,
Mayor and City Council
City of Euless
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, 1976, listed in the
foregoing table of contents. Our examination was made in accord-
ance with generally accepted auditing standards, and accordingly
included such tests of the accounting records and such other
auditing procedures as we considered necessary in the circum-
stances.
In our opinion, the statements mentioned above present
fairly the financial position of the various funds and account
groups of the City of Euless, Texas, at September 30, 1976 and
the results of operations of such funds and the changes in finan-
cial position of the Water and Sewer Enterprise Fund for the year
then ended, in conformity with generally accepted accounting
principles applied on a basis consistent with that of the preceding
year. It is our further opinion that the accounting requirements
of the bond ordinances under which the City's general obligation
and water and sewer revenue bonds were issued have been met.
Our examination has been made primarily for the purpose
of expressing an opinion on the financial statements, taken as a
whole. The accompanying supplementary information is presented
for analysis purposes and is not necessary for a fair presentation
of the financial information referred to in the preceding para-
graph. It has been subjected to the tests and other auditing
procedures applied in the examination of the financial statements
mentioned above and, in our opinion, is fairly stated in all
respects material in relation to the financial statements taken
as a whole.
October 31, 1976
CITY OF EULESS, TEXAS
COMBINED BALANCE SHEET - ALL FUNDS
September 30, 1976
ASSETS AND OTHER DEBITS
Cash and short-term investments (Exhibit A-5)
Taxes receivable (Exhibit A-2)
Assessments receivable
Accounts receivable (net)
Restricted assets:
Cash and short-term investments (Exhibit A-5)
Cash and investments with paying agent (Exhibit A-5)
Interest receivable on investments
Land and buildings
Improvements other than buildings
Equipment
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
LIABILITIES
Payroll taxes and other payables
Customer and developers' deposits
Accrued revenue bond interest payable
Bonds payable
Total liabilities
Deferred revenues
RESERVES AND FUND BALANCES/RETAINED EARNINGS
Reserve for uncollected taxes and assessments
Reserve for revenue and general bond debt service
Reserve for revenue bond retirement
Reserve for revenue bond contingency
Reserve for unexpended grants
Contributions from subdividers and others
Investment in general fixed assets
Fund balances
Retained earnings
Total liabilities, reserves and
fund balances/retained earnings
EXHIBIT A
General
Fund
$3 56 , 416
144,041
16,581
$517,038
Debt
Service
Fund
$136,255
44,002
$180,257
$ 20,510 $
458
20,968
144,041
2,056
349,973
Capital
Projects
Funds
$1,862,575
14,492
$1,877,067
- $ 153,486
44,002
136,255
153,486
14,492
1,709,089
Water and
Sewer
Enterprise
Fund
$ 525,531
114,302
527,449
777,336
5,384
32,970
5,977,954
180,458
$8,1412384
$ 86,786
107,916
43,174
4,470,000
4,707,876
236,473
79,388
274,660
100,000
1,532,076
1,210,911
Trust
and
Agency
Funds
$85,671
748
General
Fixed
Assets
1,316,939
3,643,699
1,103,937
$86,419 $6,064,575
$49,093 $
29,896
78,989
7,430
General
Long-term
Debt
136,255
4,598,745
$4,735,000
4,735,000
- 4,735,000
6,064,575
Total
(memorandum
only)
$ 2,966,448
188,043
14,492
131,631
527,449
777,336
5,384
1,349,909
9,621,653
1,284,395
136,255
4,598,745
$21,601,740
$ 309,875
138,270
43,174
9,205,000
9,696,319
236,473
202,535
215,643
274,660
100,000
2,056
1,532,076
6,064,575
2,066,492
1,210,911
$517,038 $180.257 $1,877,067 $8,141,384 $86,419 $6,064,575 $4,735,000 $21,6012740
3
CITY OF EULESS, TEXAS
COMBINED STATEMENT OF CASH RECEIPTS AND EXPENDITURES - ALL FUNDS
Year ended September 30, 1976
Cash Cash
balances balances
10-1-75 Receipts Expenditures 9-30-76
General Fund $ 258,853 $3,646,315 $3,737,635 $ 167,533
Debt Service Fund 237,135 354,508 455,388 136,255
Capital Projects
Funds 806,832 1,558,939 503,196 1,862,575
Water and Sewer
Enterprise Fund 1,156,309 3,275,224 3,388,104 1,043,429
Trust and Agency
Funds 76,266 813,860 804,455 85,671
Total - all funds $2,535,395 $9,648,846 $8,888,778 $3,295,463
EXHIBIT A-1
4
CITY OF EULESS, TEXAS
COMBINED SCHEDULE OF CHANGES IN TAXES RECEIVABLE
Year ended September 30, 1976
Balance at beginning of year
Add:
Taxes levied
Transfers from current taxes
Total
Current Delinquent
taxes taxes
$ 190,509 $ - $190,509
1,285,139 1,285,139
98,000 98,000
1,573,648 1,285,139 288,509
Deduct:
Collections 1,287,244 1,186,799 100,445
Transfers to delinquent taxes 98,000 98,000
Adjustments 361 340 21
1,385,605 1,285,139 100,466
Balance at end of year $ 188,043 $ - $188,043
EXHIBIT A-2
COMBINED SCHEDULE OF TAXES RECEIVABLE BY FUNDS
September 30, 1976
Delinquent taxes receivable:
General Fund
Debt Service Fund
$144,041
44,002
$188,043
EXHIBIT A-3
CITY OF EULESS, TEXAS
COMBINED SCHEDULE OF BONDS PAYABLE
September 30, 1976
Description
Bonds authorized
Bonds issued:
General Obligation Bonds:
Series 1964
Series 1965
Series 1966
Series 1968
Series 1971
Series 1973
Series 1975
Water and Sewer Revenue Bonds: (Note)
Series 1965
Series 1967
Series 1971
Total issued and outstanding
Rates of interest
3.6% to 3.875%
3.85% to 5%
4.65%
4.5% to 5%
4% to 5.4%
5% to 6 . 5%
5% to 7 . 5%
4.5% to 5.5%
4.5%
4.75% to 6%
Dates
9-28-64
7- 1-65
7- 1-66
7- 1-68
5-28-71
12- 1-73
11- 1-75
7-15-65
1-15-67
5-28-71
Street
and
drainage
$4,395,000
430,000
295,000
205,000
200,000
350,000
1,000,000
400,000
2,880,000
Public
buildings
Bonds
Parks
Water
and
sewer
Total
$1,490,000 $3,490,000 $10,800,000 $20,175,000
470,000
160,000
120,000
40,000
700,000
1,490,000
100,000
75,000
75,000
100,000
110,000
300,000
300,000
1,060,000
2,880,000 1,490,000 1,060,000
Balance authorized - unissued $1,515,000 $
Note: In addition to the above Water and Sewer Revenue Bonds, the City of Euless has contracted
with Trinity River Authority to fund certain bonded indebtedness of that organization
from water and sewer revenues. Under the contract, annual charges by TRA for water and
sewer services will aggregate approximately $752,000. Such charges paid by the City in
the year ended September 30, 1976 totaled approximately $635,000. Of these amounts,
$256,000 in future years and $245,000 in 1976 are earmarked as applicable to City pledged
debt service of TRA.
EXHIBIT A-4
- $2,430,000
3,600,000
2,200,000
800,000
6,600,000
6,600,000
4,200,000
1,000,000
530,000
400,000
300,000
500,000
1,300,000
1,400,000
5,430,000
3,600,000
2,200,000
800,000
6,600,000
12,030,000
$ 8,145,000
Balance
outstanding
9-30-76
$ 735,000
530,000
400,000
265,000
375,000
1,180,000
1,250,000
4,735,000
2,550,000
1,265,000
655,000
4,470,000
$9,205,000
CITY OF EULESS, TEXAS
COMBINED SCHEDULE OF CASH AND INVESTMENTS
September 30, 1976
Combined bank balances and investments:
Deposit
Securities insurance
Amount guaranty guaranty
Bank accounts:
First National Bank of Euless:
Consolidated account $ 451,113 $ - $ 40,000
Trust and Agency account 30,775 40,000
Certificates of deposit 2,725,000 40,000
Payroll 300 300
3,207,188 3,200,000 120,300
Banker's Trust Company, New York:
Water and Sewer Revenue bond
reserve account
Water and Sewer Revenue bond
sinking fund account
8,447
79,388
87,835
- 8,447
79,388
- 87,835
Total on deposit with banks 3,295,023 $3,200,000 $208,135
Petty cash funds 440
Total cash 3,295,463
Investments in U. S. Government
securities (held by Bankers
Trust Company, New York):
Water and Sewer Revenue bond
reserve 266,213
Water and Sewer Fund - property
sales proceeds account 423,288
Investments in U. S. Government
securities (held in safekeeping
by Mercantile National Bank,
Dallas, Texas):
Water and Sewer Fund -
operating account
General Fund
97,386
188,883
$4,271,233
Securities guaranty is composed of general obligations of various
local, state and national governmental bodies which have been
placed with a third party by the depository bank as security for
deposits of the City of Euless.
EXHIBIT A-5
Cash and investments by fund:
Funds:
General Fund:
Operations
Payroll
General Debt Service Fund
Capital Projects Funds:
Park and recreation
Street and drainage
Service center
Revenue sharing
Public safety
Water and Sewer Enterprise
Fund:
Operating
Restricted:
Revenue bond debt service
Revenue bond reserve
Revenue bond contingency
Property sale proceeds
account
Capital projects account
Customer deposits
Trust and Agency Funds:
Escrow
Social security
Total all funds
Demand accounts
Time deposits
Petty cash funds
U. S. Cash and
Treasury certificates
obligations of deposit
$188,883
188,883
97,386
266,213
423,288
786,887
$975,770
$ 167,233
300
167,533
136,255
227,174
592,451
40,000
309,196
693,754
1,862,575
428,145
79,388
8,447
100,000
319,533
107,916
1,043,429
29,896
55,775
85,671
$3,295,463
$ 570,023
2,725,000
440
$3,295,463
Total
$ 356,116
300
356,416
136,255
227,174
592,451
40,000
309,196
693,754
1,862,575
525,531
79,388
274,660
100,000
423,288
319,533
107,916
1,830,316
29,896
55,775
85,671
$4,271,233
7
CITY OF EULESS, TEXAS
GENERAL FUND
BALANCE SHEET
September 30, 1976
ASSETS
Cash and short-term investments (Exhibit A-5)
Taxes receivable (Exhibit A-3)
Accounts receivable, State of Texas
LIABILITIES, RESERVES AND FUND BALANCE
$356 , 416
144,041
16,581
$517 , 038
Liabilities:
Accounts payable $ 16,590
Escrow deposits 458
Court costs collected for State of Texas 3,920
Total liabilities 20,968
Reserve for uncollected taxes 144,041
Reserve for unexpended grants (Note 2) 2,056
Fund balance (Exhibit B-1) 349,973
$517,038
See accompanying notes.
EXHIBIT B
8
CITY OF EULESS, TEXAS
GENERAL FUND
ANALYSIS OF CHANGES IN FUND BALANCE
Year ended September 30, 1976
Fund balance, October 1, 1975 $ 459,829
Less:
Excess of expenditures over revenues:
Revenues (Exhibit B-2)
Expenditures (Exhibit B-3)
$1,886,608
1,996,464 (109,856)
Fund balance, September 30, 1976 $ 349,973
See accompanying notes.
EXHIBIT B-1
9
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES - ESTIMATED AND ACTUAL
Year ended September 30, 1976
General property taxes collected:
Current taxes
Delinquent taxes
Penalty and interest
Gross receipts taxes:
Southwestern Bell
Telephone Company
Texas Power and Light Company
Lone Star Gas Company
Tarrant County Trash Disposal
Mixed beverage
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 Actual
revenues revenues
Actual
over
(under)
estimated
$ 857,542 $ 830,832 $(26,710)
10,000 97,107 87,107
3,000 28,314 25,314
870,542 956,253 85,711
33,000 48,895
125,000 139,849
32,000 34,985
6,200 6,582
7,500 17,420
203,700 247,731
218,000 292,209
10,000 8,781
1,600 3,517
2,000 5,169
1,000 1,261
1,400 1,104
1,065 985
2,000 3,343
19,065 24,160
165,000 190,919
900 2,374
165,900 193,293
15,895
14,849
2,985
382
9,920
44,031
74,209
(1,219)
1,917
3,169
261
(296)
(80)
1,343
5,095
25,919
1,474
27,393
EXHIBIT B-2
10
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF REVENUES - ESTIMATED AND ACTUAL
Year ended September 30, 1976
(Continued)
Other revenues:
Library receipts
Tarrant County Library
contributions
Tarrant County fire assistance
Interest income
Rental income
Miscellaneous income
Appropriations from water
system funds
State Library Grant
Traffic Safety Administration
Texas Court cost service fee
Swimming pools
General Fund revenues
Actual
over
Estimated Actual (under)
revenues revenues estimated
$ 1,600
$ 2,547 $ 947
5,207 5,467 260
3,000 3,000
60,000 93,600 33,600
600 4,040 3,440
11,300 12,250 950
18,528 18,528
2,460 5,000 2,540
5,400 3,561 (1,839)
375 597 222
22,000 24,372 2,372
130,470 172,962 42,492
$1,607,677 $1,886,608 $278,931
See accompanying notes.
EXHIBIT B-2
11
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
Year ended September 30, 1976
General Government:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Civil Service:
Personnel services
Supplies
Other services and charges
Capital outlays
Community Services:
Personnel services
Supplies
Maintenance
Other services and charges
Law Enforcement:
Police Department:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Actual
(over)
Budget Expenditures under
$ 117,731
3,960
1,560
48,200
925
172,376
3,600
400
3,465
100
7,565
18,274
1,730
400
6,584
26,988
488,103
24,900
12,975
24,450
26,050
576,478
$ 74,966
5,133
1,835
65,784
337
148,055
1,025
501
3,658
5,184
16,628
456
104
8,664
25,852
502,663
26,398
19,440
36,145
28,694
613,340
$ 42,765
(1,173)
(275)
(17,584)
588
24,321
2,575
(101)
(193)
100
2,381
1,646
1,274
296
(2,080)
1,136
(14,560)
(1,498)
(6,465)
(11,695)
(2,644)
(36,862)
EXHIBIT B-3
12
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
Year ended September 30, 1976
(Continued)
Law Enforcement: (continued)
Legal and Corporation Court:
Personnel services
Supplies
Maintenance
Other services and charges
Total Law Enforcement
Fire Department:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Street Department:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Traffic Safety Administration:
Personnel services
Supplies
Maintenance
Other services and charges
Animal Control:
Personnel services
Supplies
Maintenance
Other services and charges
Actual
(over)
Budget Expenditures under
$ 27,886 $ 29,521
1,200 1,926
400 275
25,205 38,460
54,691 70,182
631,169 683,522
368,548 357,153
22,010 17,625
8,600 9,110
12,990 16,020
2,100 2,384
414,248 402,292
99,763 89,221
11,350 13,212
58,450 46,819
9,275 9,629
8,640 7,348
187,478 166,229
21,131 23,247
3,000 2,505
15,300 19,956
12,246 13,202
51,677 58,910
23,145 19,212
1,500 1,252
900 441
1,075 1,894
26,620 22,799
$ (1,635)
(726)
125
(13,255)
(15,491)
(52,353)
11,395
4,385
(510)
(3,030)
(284)
11,956
10,542
(1,862)
11,631
(354)
1,292
21,249
(2,116)
495
(4,656)
(956)
(7,233)
3,933
248
459
(819)
3,821
EXHIBIT B-3
13
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
Year ended September 30, 1976
(Continued)
Actual
(over)
Budget Expenditures under
Building and Zoning Department:
Personnel services $ 24,405 $ 19,314 $ 5,091
Supplies 2,125 2,581 (456)
Maintenance 382 490 (108)
Other services and charges 17,435 8,797 8,638
Capital outlays 4,600 4,046 554
48,947 35,228 13,719
School Crossing Guard:
Personnel services 10,200 7,550 2,650
Library:
Personnel services 53,622 54,899 (1,277)
Supplies 3,800 3,776 24
Maintenance 3,700 1,139 2,561
Other services and charges 2,939 6,104 (3,165)
Capital outlays 18,609 25,588 (6,979)
82,670 91,506 (8,836)
Recreation Department:
Personnel services 28,702 25,017 3,685
Supplies 2,320 4,505 (2,185)
Maintenance 600 278 322
Other services and charges 6,320 10,615 (4,295)
37,942 40,415 (2,473)
Park Department:
Personnel services 65,989 78,969 (12,980)
Supplies 9,550 12,417 (2,867)
Maintenance 9,200 18,870 (9,670)
Other services and charges 6,045 15,911 (9,866)
Capital outlays 13,800 9,555 4,245
104,584 135,722 (31,138)
EXHIBIT B-3
14
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
Year ended September 30, 1976
(Continued)
Midway Swimming Pool:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Wilshire Swimming Pool:
Personnel services
Supplies
Maintenance
Other services and charges
South Euless Swimming Pool:
Personnel services
Supplies
Maintenance
Other services and charges
Community Building:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Simmons Drive Community Center:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Actual
(over)
Budget Expenditures under
$ 16,392
1,525
2,000
1,182
3,000
24,099
16,392
1,425
200
1,080
19,097
16,568
1,425
200
1,105
19,298
27,312
1,400
500
1,410
1,200
31,822
10,090
1,000
300
1,300
675
13,365
$ 13,958
2,338
891
910
3,255
21,352
13,667
1,263
416
654
16,000
15,184
1,514
622
778
18,098
31,142
1,099
549
1,302
1,572
35,664
8,793
1,219
777
3,805
609
15,203
$ 2,434
(813)
1,109
272
(255)
2,747
2,725
162
(216)
426
3,097
1,384
(89)
(422)
327
1,200
(3,830)
301
(49)
108
(372)
(3,842)
1,297
(219)
(477)
(2, 505)
66
(1,838)
EXHIBIT B-3
15
CITY OF EULESS, TEXAS
GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED WITH BUDGET
Year ended September 30, 1976
(Continued)
Civic Center:
Personnel services
Supplies
Maintenance
Other services and charges
Capital outlays
Total all departments
See
Budget Expenditures
$ 21,772
3,260
5,600
21,770
1,504
53,906
$ 26,181
5,334
6,570
27,346
1,452
66,883
$1,964,051 $1,996,464
accompanying notes.
Actual
(over)
under
$ (4,409)
(2,074)
(970)
(5,576)
52
(12,977)
$(32,413)
EXHIBIT B-3
16
CITY OF EULESS, TEXAS
GENERAL FUND
NOTES TO FINANCIAL STATEMENTS
September 30, 1976
1. Accounting policies
Basis of accounting - The accounts of the General Fund
are maintained and the financial statements have been prepared on
the modified accrual basis of accounting. Expenditures are
recorded as incurred. Revenues are recorded as received in cash
except for revenues susceptible to accrual and revenues that are
not received at their normal time of receipt.
Purpose of fund - The General Fund is used to account
for all of the general revenues of the City not specifically
levied or collected for other City funds and for expenditures
related to the rendering of general services by the City.
Pension plan - The City's policy is to fund all pension
costs accrued.
2. Unexpended grants
Funds received from federal or state grants may be used
by the City only for the purposes and in the amounts specified
by the grants.
3. Pension plan
All eligible full-time City employees are members of the
City's retirement plan administered by the Texas Municipal
Retirement System. The General Fund contributions to the plan for
the year ended September 30, 1976 were approximately $40,200.
Based on the actuarial valuation made as of December 31, 1975 the
City's pension fund assets are in excess of the related actuarial
computed value of vested benefits.
17
CITY OF EULESS, TEXAS
DEBT SERVICE FUND
BALANCE SHEET
September 30, 1976
ASSETS
Cash and short-term investments (Exhibit A-5)
Taxes receivables (Exhibit A-3)
Reserve for uncollected taxes
Fund balance (Exhibit C-1)
RESERVES
EXHIBIT C
ANALYSIS OF CHANGES IN FUND BALANCE
Year ended September 30, 1976
Balance at beginning of year
Less excess of expenditures over
revenues (Exhibit C-2)
Balance at end of year
See accompanying notes.
$136,255
44,002
$180,257
$ 44,002
136,255
$180,257
$237,135
100,880
$136,255
EXHIBIT C-1
18
CITY OF EULESS, TEXAS
DEBT SERVICE FUND
STATEMENT OF REVENUES AND EXPENDITURES
Year ended September 30, 1976
Revenues:
General property taxes and penalties
and interest collected
Expenditures:
Interest on bonds
Matured bonds
Service charges
Excess of expenditures over revenues
See accompanying notes.
$ 354,508
$235,010
220,000
378 455,388
100,880
EXHIBIT C-2
19
CITY OF EULESS, TEXAS
DEBT SERVICE FUND
NOTES TO FINANCIAL STATEMENTS
September 30, 1976
1. Accounting policies
Basis of accounting - Revenues are recorded as collected
and expenditures for bond principal and interest are recorded when
due.
Purpose of fund - The Debt Service Fund was established
to account for revenues restricted for the payment of principal
and interest on the City's general obligation bonds.
2. Fund balance
The general obligation bond ordinances do not require
a specific balance to be maintained in the Fund; however, the
fund balance is to be used for future bond principal and interest
requirements.
CITY OF EULESS, TEXAS
CAPITAL PROJECTS FUNDS
BALANCE SHEET
September 30, 1976
ASSETS
Cash and short-term investments
(Exhibit A-5) (Exhibit D-1)
Assessments receivable
LIABILITIES, RESERVES
AND APPROPRIATIONS
Liabilities -
Accounts payable
Reserve for uncollected
assessments
Appropriations -
Unencumbered fund balance
Total
$1,862,575
14,492
$1,877,067
$ 153,486
14,492
1,709,089
$1,877,067
See accompanying notes.
Street
Improvement
and Drainage
Fund
20
Park and
Recreation
Fund
Service Revenue
Center Sharing
Fund Fund
$592,451 $227,174 $40,000
14,492
$606,943 $227,174 $40,000
14,492
592,451
$309,196
$309,196
Public
Safety
Fund
$693,754
$693,754
$ $ - $153,486 $
227,174 40,000 155,710 693,754
$606,943 $227,174 $40,000 $309,196 $693,754
EXHIBIT D
CITY OF EULESS, TEXAS
CAPITAL PROJECTS FUNDS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
Year ended September 30, 1976
Cash balance at beginning of year
Receipts:
Sale of bonds
Interest income
Paving assessments
Revenue sharing grant
Disbursements:
Capital outlay
Repayment of advance from
General Fund
Cash balance at end of year
Total
$ 806,832
1,400,000
3,000
1,543
154,396
2,365,771
444,465
58,731
503,196
$1,862,575
See accompanying notes.
Street
Improvement
and Drainage
Fund
$453,321
400,000
1,543
854,864
262,413
262,413
$592,451
21
Park and
Recreation
Fund
Service Revenue
Center Sharing
Fund Fund
$ 9,405 $40,000 $304,106
Public
Safety
Fund
300,000 -- - 700,000
3,000
154,396
309,405 40,000 461,502 700,000
23,500 - 152,306
58,731
82,231 - 152,306
6,246
6,246
$227,174 $40`000 $309,196 $693,754
EXHIBIT D-1
CITY OF EULESS, TEXAS
CAPITAL PROJECTS FUNDS
STATEMENT OF EXPENDITURES COMPARED WITH APPROPRIATIONS
September 30, 1976
Amount appropriated:
From:
Bonds sold
Paving assessments
Other participation
Matching grants-in-aid
Advances from other funds
Revenue sharing grants
Interest
Less expenditures:
Of prior fiscal periods
Of this period
Unencumbered balance
Total
$4,680,000
304,603
129,818
80,000
82,341
562,900
13,515
5,853,177
3,487,406
656,682
4,144,088
$1,709,089
See accompanying notes.
Street
Improvement
and Drainage
Fund
$2,880,000
304,603
129,748
22
Park and
Recreation
Fund
Service Revenue
Center Sharing
Fund Fund
$1,060,000 $40,000
70
80,000
82,341
Public
Safety
Fund
$700,000
562,900
13,515
3,314,351 1,222,411 40,000 576,415 700,000
2,459,487
262,413
2,721,900
913,006 - 114,913 82,231 305,792 6,246
995,237
- 420,705 6,246
$ 592,451 $ 227_1174 $40,000 $155,710 $693,754
EXHIBIT D-2
23
CITY OF EULESS, TEXAS
CAPITAL PROJECTS FUNDS
NOTES TO FINANCIAL STATEMENTS
September 30, 1976
1. Accounting policies
Basis of accounting - Revenues are recorded as collected
and expenditures are recorded as incurred.
Purpose of the funds - The funds are established to
account for bond, revenue sharing and assessment proceeds desig-
nated for the acquisition of capital facilities by the City.
2. Revenue sharing program
Regulations require that funds received under the
Revenue Sharing Program must be used, obligated or appropriated
within 24 months of the closing date of the entitlement period.
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
BALANCE SHEET
September 30, 1976
ASSETS
Current assets:
Cash and short-term investments (Exhibit A-5)
Accounts receivable
Less estimated uncollectible accounts
Total current assets
Restricted assets:
Revenue bond debt service: (Note 4)
Cash with paying agent (Exhibit A-5)
Revenue bond reserve: (Note 4) (Exhibit A-5)
Cash with paying agent
Investments with paying agent, at cost
Revenue bond contingency: (Note 4)
Cash and short-term investments
(Exhibit A-5)
Property sale proceeds accounts: (Note 2)
Principal investments with paying
agent, at cost (Exhibit A-5)
Capital projects account:
Cash and short-term investments
(Exhibit A-5)
Customer deposits:
Short-term investments (Exhibit A-5)
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
$ 114,673
371
8,447
266,213
32,970
275,215
7,617,260
7,925,445
1,734,063
24
$ 525,531
114,302
639,833
7 9, 388
274,660
100,000
423,288
319,533
107,916
5,384
1,310,169
6,191,382
$8,141,384
LIABILITIES, RESERVES, CONTRIBUTIONS
AND RETAINED EARNINGS
Current liabilities:
Payable from current assets:
Revenue bonds payable within one year
(Exhibit A-4 and Table VI)
Accounts payable
Payable from restricted assets:
Customer deposits
Accrued revenue bond interest payable
Total current liabilities
Other liabilities payable after one year:
(Note 4)
Revenue bonds (Note 2)
(Exhibit A-4 and Table VI)
Total liabilities
Deferred revenues
Commitments: (Note 3)
Reserves: (Note 4)
Reserve for revenue bond debt service,
next maturing
Reserve for revenue bond retirement
Reserve for contingency
Total reserves
Contributions:
From subdividers
From Environmental Protection Agency
From Trinity River Authority
Total contributions
Retained earnings (Exhibit E-1)
See accompanying notes.
$ 107,916
43,174
79,388
274,660
100,000
1,277,459
239,617
15,000
$ 120,000
86,786
151,090
357,876
4,350,000
4,707,876
236,473
454,048
1,532,076
1,210,911
$8,141,384
EXHIBIT E
25
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
ANALYSIS OF CHANGES IN RETAINED EARNINGS
Year ended September 30, 1976
Retained earnings at beginning of year
Add:
Net income (Exhibit E-2)
Less:
Increase in reserves for revenue
bond debt service
$1,141,355
112,428
1,253,783
42,872
Retained earnings at end of year $1,210,911
See accompanying notes.
EXHIBIT E-1
26
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF REVENUES AND EXPENSES - ACTUAL AND BUDGETED
Year ended September 30, 1976
Operating revenues:
Water sales
Sewer services
Water and sewer tap fees
Service fees and miscellaneous
Operating expenses excluding
depreciation (Exhibit E-4)
Net operating revenues
excluding depreciation
Nonoperating revenues:
Investment income
Income available for debt
service
Depreciation (straight-line basis,
15 years for equipment and 33
years for the system)
Nonoperating expenses:
Interest on revenue bonds
Appropriations to General Fund
Net income (loss)
Actual
over
Budget Actual (under)
$ 900,000 $ 961,914 $ 61,914
400,000 485,629 85,629
5,800 6,025 225
45,100 52,839 7,739
1,350,900 1,506,407 155,507
1,091,252 999,803 (91,449)
259,648 506,604 246,956
20,000 75,928 55,928
279,648 582,532 302,884
273,825 240,190 (33,635)
5,823 342,342 336,519
217,475 211,386 (6,089)
18,528 18,528
236,003 229,914 (6,089)
$ (2301180) $ 112,428 $ 342,608
See accompanying notes.
EXHIBIT E-2
27
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
Year ended September 30, 1976
Funds provided:
Operations:
Net income for the year
Expenses not requiring outlay of funds:
Depreciation
Total funds provided from operations
Contributions in aid to construction
Total funds provided
Funds used:
Additions to utility plant in service
Payment of long-term debt
Decrease in deferred revenue
Increase in restricted funds
$ 112,428
240,190
352,618
175,678
528,296
590,929
120,000
7,800
258,698
Total funds used 977,427
Decrease in working capital
Changes in components of working capital:
Increase (decrease) in current assets:
Cash and short-term investments
Accounts receivable
Increase (decrease) in current liabilities:
Revenue bonds payable within one year
Accounts payable
Customer deposits
Accrued revenue bond interest payable
Decrease in working capital
See accompanying notes.
EXHIBIT E-3
449,131
$ (369 , 609)
9,772
(359,837)
5,000
78,142
7,245
(1,093)
89,294
$ 449,131
28
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
NOTES TO FINANCIAL STATEMENTS
September 30, 1976
1. Accounting policies
Basis of accounting - The Water and Sewer Enterprise
Fund is operated as a self-supporting municipal utility and
accounted for on the accrual basis in separate enterprise fund
accounts.
Depreciation - Depreciation is determined by the
straight-line method for all assets in the Water and Sewer
Enterprise Fund except land. The estimated lives of the various
assets are as follows:
Equipment 15 years
Water and sewer system 33-1/3 years
Pension plan - The City's policy is to fund all pension
costs accrued.
2. 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 exceed-
ing 32.33% of the requirement on the amount of bonds then out-
standing, As of September 30, 1976, $1,650,000 (28.45%) of the
revenue bonds have been retired with proceeds from the sale noted
above,
29
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
NOTES TO FINANCIAL STATEMENTS
September 30, 1976
3. Contractual obligations
Under the City's long-term contract with the Trinity
River Authority of Texas for sewer treatment services and water
supply, the City is obligated for the next 48 years to share in
the costs of operations, maintenance and debt service of the
Authority. Annual charges to the City by TRA in 1977 will
approximate $752,000 of which $256,000 is earmarked for debt
service. Such charges paid by the City totaled approximately
$635,000 in 1976 of which $245,000 was earmarked for debt service.
Under the contract all charges by TRA are deemed to be for
services which constitute reasonable and necessary "operating
expenses" of the City's water and sewer system, therefore, no part
of such charges are included in the accompanying balance sheet as
a liability equivalent to bonded indebtedness requiring debt
service accounting treatment.
4. Revenue bond ordinances
The Series 1965, 1967 and 1971 Water and Sewer Revenue
Bonds are payable solely from and equally secured by a first lien
on and pledge of the net revenues of the City's combined waterworks
and sanitary sewer system.
In accordance with the 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.
30
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
NOTES TO FINANCIAL STATEMENTS
September 30, 1976
4, Revenue bond ordinances (continued)
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, 1976.
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.
5. Pension plan
All eligible full-time City employees are members of
the City's retirement plan administered by the Texas Municipal
Retirement System. The Water and Sewer Enterprise Fund contribu-
tions to the plan for the year ended September 30, 1976 were
approximately $6,700. Based on the actuarial valuation made as of
December 31, 1975, the City's pension fund assets are in excess of
the related actuarially computed value of vested benefits.
31
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGETED AND ACTUAL
Year ended September 30, 1976
Actual
(over)
Budget Actual under
General and administrative:
Supervision $ 34,449 $ 27,893 $ 6,556
Clerical 27,221 26,911 310
Employee benefits 7,056 6,975 81
Postage and supplies 7,400 8,268 (868)
Maintenance of office machinery 500 1,253 (753)
Contractual services 16,800 26,519 (9,719)
Bad debts 3,120 (3,120)
93,426 100,939 (7,513)
Water production:
Supervision 11,224 3,140 8,084
Operation labor 27,788 21,430 6,358
Employee benefits 5,742 5,187 555
Operating supplies and expense 3,500 4,398 (898)
Maintenance of structures and
equipment 2,450 692 1,758
Contractual services 31,000 34,191 (3,191)
Water - Trinity River Authority 489,934 543,754 (53,820)
Contingencies and other 42,100 681 41,419
613,738 613,473 265
Water distribution:
Supervision 11,224 11,224 -
Operation labor 75,054 70,338 4,716
Employee benefits 12,478 11,345 1,133
Operating supplies and expense 5,700 7,135 (1,435)
Maintenance of structures and
equipment 23,350 12,162 11,188
Contractual services 1,150 1,013 137
Trinity River Authority charges 29,688 26,892 2,796
Contingencies and other 33,150 145 33,005
191,794 140,254 51,540
EXHIBIT E-4
32
CITY OF EULESS, TEXAS
WATER AND SEWER ENTERPRISE FUND
SCHEDULE OF OPERATING EXPENSES - BUDGETED AND ACTUAL
Year ended September 30, 1976
(Continued)
Sewage collection and treatment:
Supervision
Operation labor
Employee benefits
Operating supplies and expense
Maintenance of structures and
equipment
Contractual services
Treatment fees - Trinity River
Authority
Contingencies and other
Total operating expenses
Budget
$ 11,224
51,944
7,791
5,100
4,950
5,400
73,020
32,865
192,294
$1,091,252
EXHIBIT E-4
Actual
$ 17,295
36,969
8,558
5,397
4,463
7,305
64,329
821
145,137
$999,803
Actual
(over)
under
$ (6,071)
14,975
(767)
(297)
487
(1,905)
8,691
32,044
47,157
91,449
33
CITY OF EULESS, TEXAS
TRUST AND AGENCY FUNDS
BALANCE SHEET
September 30, 1976
ASSETS
Cash and short-term investments
(Exhibit A-5)
Employee account receivable
LIABILITIES, RESERVES
AND FUND BALANCE
Payroll taxes payable
Reserve for general escrow deposits
Fund balance
EXHIBIT F
Social
Security Escrow
Total Fund Fund
$85,671 $55,775 $29,896
748 748
$86,419 $56,523 $29,896
$49,093 $49,093 $ -
29,896 29,896
7,430 7,430
$86,419 $56,523 $29,896
34
CITY OF EULESS, TEXAS
TRUST AND AGENCY FUNDS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
Year ended September 30, 1976
Balance at beginning of year
Receipts:
For social security, federal income
taxes withheld, employees insurance
premiums and employee United Fund
deductions
Escrow deposits
Disbursements:
Payments for social security, federal
income taxes withheld, insurance
premiums and United Fund
Escrow payments for street and
drainage construction
Balance at end of year
EXHIBIT F-1
Social
Security Escrow
Total Fund Fund
$ 76,266 $ 47,385 $ 28,881
631,862 631,862
181,998
181,998
890,126 679,247 210,879
623,472 623,472
180,983
180,983
804,455 623,472 180,983
$ 85,671 $ 55,775 $ 29,896
35
CITY OF EULESS, TEXAS
STATEMENT OF GENERAL FIXED ASSETS
September 30, 1976
General fixed assets:
Land and buildings
Improvements other than buildings
Machinery and equipment
$1,316,939
3,643,699
1,103,937
$6,064,575
Investment in general fixed assets from:
General bonds $3,619,575
Current revenues and assessments 2,365,721
Gifts 79,279
$6,064,575
See accompanying notes.
EXHIBIT G
36
CITY OF EULESS, TEXAS
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS
BY SOURCE
Year ended September 30, 1976
Improvements Machinery
Land and other than and
Total buildings buildings equipment
Balance at beginning
of year $5,294,233 $1,141,322 $3,474,722 $ 678,188
Add:
Expenditures from
bond proceeds 171,429 10,436 160,993 Expenditures from
assessments and
other special
funds 434,794 84,450 7,983 342,361
Expenditures from
current revenues 84,840 1,452 83,388
Contribution of
land 79,279 79,279
Balance at end
of year $6,064,575 $1,316,939 $3,643,699 $1,103,937
See accompanying notes.
EXHIBIT G-1
37
CITY OF EULESS, TEXAS
SCHEDULE OF GENERAL FIXED ASSETS
CLASSIFIED BY DEPARTMENTS
Year ended September 30, 1976
Improvements Machinery
Land and other than and
Total buildings buildings equipment
General Government $ 610,192 $ 340,575 $ 7,137 $ 262,480
Street Department 2,985,624 2,911,705 73,919
Police Department 369,045 154,525 23,704 190,816
Fire Department 440,425 92,241 348,184
Park and Recreation
Departments
Library
1,284,623 479,754 670,129 134,740
374,666 249,844 31,024 93,798
$6,064,575 $1,316,939 $3,643,699 $1,103,937
See accompanying notes.
EXHIBIT G-2
38
CITY OF EULESS, TEXAS
GENERAL FIXED ASSETS
NOTE TO FINANCIAL STATEMENTS
September 30, 1976
Accounting policies
The General Fixed Assets group of accounts is used to
account for the cost of fixed assets of the City that are used in the
performance of general governmental functions and that are not ac-
counted for in the Water and Sewer Enterprise fund. No depreciation
is provided on general fixed assets.
39
CITY OF EULESS, TEXAS
STATEMENT OF GENERAL LONG-TERM DEBT
September 30, 1976
Amount available and to be provided for
the payment of general long-term debt:
Serial bond principal:
Amount available in Debt Service Fund
(Exhibit C)
To be provided in future years
$ 136,255
4,598,745
Total available and to be provided $4,735,000
GENERAL LONG-TERM DEBT PAYABLE
Serial bonds payable in future years (Table V) $4,735,000
EXHIBIT H
SUPPLEMENTARY INFORMATION - STATISTICAL DATA
40
Tax roll
dates
10-1-66
10-1-67
10-1-68
10-1-69
10-1-70
10-1-71
10.1-72
10-1-73
10-1-74
10-1-75
m- / 76
Fiscal
period
ending
9-30-67
9-30-68
9-30-69
9-30-70
9-30-71
9-30-72
9-30-73
9-30-74
9-30-75
9-30-76
,; O `
.5 (1- le,
CITY OF EULESS, TEXAS
TAX LEVIES AND TAX COLLECTIONS
Last ten fiscal years
Assessed
value
$ 41,603,636
45,009,290
48,914,070
67,556,170
77,420,170
86,000,000
93,312,960
138,068,760
145, 595, 360
151,191,100
r, 7/(Q _' c)
/7/, d9 e)
Total
tax levy
$ 320,348
382,592
415,770
574,240
658,071
695,199
793,175
1,173,599
1,237,576
1,285,139
TABLE I.
Collections
current years
taxes during
fiscal period
$ 304,185
369,344
402,888
543,005
621,586
676,102
769,851
1,070,877
1,136,105
1,179,161
0
Percent of
collection
of
current levy
94.95
96.53
96.90
94.56
94.45
97.25
97.06
91.25
91.80
91.75
90.7d
Collection
on delinquent
rolls
fiscal period
$ 5,767
14,398
7,432
8,637
21,049
20,658
17,146
10,072
51,805
97,107
7
Total Percent of
collections total
during collection
fiscal period to tax levy
$ 309,952
383,742
410,320
551,642
642,635
696,760
786,997
1,080,949
1,187,910
1,276,268
/ s o
96.71
100.30
98.69
96.06
97.65
100.22
99;22
92.11
96.04
99.31
93.77
41
CITY OF EULESS, TEXAS
TAX RATES AND TAX LEVIES
Prior fiscal years
TAX RATES
Tax roll
dates City School County State Total
10-1-66 $ .77 $1.45 $ .82 $ .47 $3.51
10-1-67 .85 1.45 .82 .47 3.59
10-1-68 .85 1.45 .82 .47 3.59
10-1-69 .85 1.69 .82 .42 3.78
10-1-70 .85 1.69 .88 .37 3.79
10-1-71 .85 1.69 .88 .32 3.74
10-1-72 .85 1.69 .86 .27 3.67
10-1-73 .85 1.69 .86 .22 3.62
10-1-74 .85 1.76 .86 .17 3.64
10-1-75 .85 1.76 .86 .12 3.59
10-1-76 .94 1.80 .95 .12 3.81
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. Payment to the School District for tax
collections is based upon the number of accounts on the
tax roll.
TABLE II
42
Fiscal
period
9-30-67
9-30-68
9-30-69
9-30-70
9-30-71
9-30-72
9-30-73
9-30-74
9-30-75
9-30-76
Taxes
(other
than
property
taxes)
$ 34,349
44,502
53,317
117,162
199,807
222,960
293,011
377,401
449,385
539,940
CITY OF EULESS, TEXAS
REVENUES - OTHER THAN PROPERTY TAXES
Last ten fiscal years
Licenses
and
permits
$13,170
27,833
30,642
20,187
40,464
31,966
35,984
27,035
12,568
24,160
County
f ire
Fines program
$ 42,069
50,343
46,025
58,027
57,002
76,101
109,720
123,847
177,918
193,293
$1,600
1,600
2,000
2,200
2,400
2,600
2,800
3,000
3,000
3,000
Revenue
Library sharing Other
$6,805
5,206
7,915
7,444
6,607
8,915
3,943
7,080
7,480
8,014
$
146,462
131,202
130,840
154,396
$ 26,045
43,409
55,920
58,360
58,355
106,935
144,657
166,355
247,677
161,948
TABLE III
43
Fiscal
period General
ended government
9-30-67 $ 87,735
9-30-68 40,699*
9-30-69 29,826
9-30-70 53,849
9-30-71 60,934
9-30-72 59,678
9-30-73 70,870
9-30-74 85,957
9-30-75 123,340
9-30-76 148,055
CITY OF EULESS, TEXAS
EXPENDITURES FOR SELECTED FUNCTIONS
Last ten fiscal years
Law
enforcement
$129,954
155,890
189,578
240,017
296,293
341,727
388,473
581,936
600,983
683,522
Fire
department
$ 29,850
33,878
43,450
58,651
105,713
131,732
153,044
300,827
342,914
402,292
Public Parks and
works recreation Library
$ 54,691 $ 61,081 $21,382
83,077 79,141 33,285
89,367 113,482 35,032
99,427 119,906 40,504
107,488 135,421 42,435
119,785 138,783 48,605
173,717 253,117 45,736
235,435 263,081 58,651
235,785 300,823 77,006
290,716 349,337 91,506
*Beginning in 1968 certain expenditures classified
as nondepartmental and previously reported under
"general government" have been allocated or charged
directly to the several functions listed above.
TABLE IV
44
Fiscal
CITY OF EULESS, TEXAS
GENERAL OBLIGATION BONDS OTHER THAN WATER
AND SEWER REVENUE DEBT SERVICE CHARGES
Bonds Requirements
outstanding Principal Interest
Total
1977 $4,735,000 $ 105,000 $ 240,655 $ 345,655
1978 4,630,000 110,000 235,005 345,005
1979 4,520,000 110,000 229,249 339,249
1980 4,410,000 115,000 223,362 338,362
1981 4,295,000 120,000 217,283 337,283
1982 4,175,000 130,000 210,647 340,647
1983 4,045,000 140,000 203,298 343,298
1984 3,905,000 145,000 195,538 340,538
1985 3,760,000 155,000 187,540 342,540
1986 3,605,000 165,000 179,167 344,167
1987 3,440,000 175,000 170,488 345,488
1988 3,265,000 180,000 161,577 341,577
1989 3,085,000 190,000 152,208 342,208
1990 2,895,000 195,000 142,567 337,567
1991 2,700,000 205,000 132,451 337,451
1992 2,495,000 225,000 121,302 346,302
1993 2,270,000 230,000 109,366 339,366
1994 2,040,000 260,000 96,129 356,129
1995 1,780,000 260,000 81,798 341,798
1996 1,520,000 265,000 67,487 332,487
1997 1,255,000 270,000 53,785 323,785
1998 985,000 170,000 43,215 213,215
1999 815,000 170,000 35,085 205,085
2000 645,000 170,000 26,955 196,955
2001 475,000 75,000 21,525 96,525
2002 400,000 75,000 18,600 93,600
2003 325,000 80,000 15,113 95,113
2004 245,000 80,000 11,392 91,392
2005 165,000 80,000 7,673 87,673
2006 85,000 85,000 3,952 88,952
$4,735,000
TABLE V
$3,594,412 $8,329,412
45
Fiscal
CITY OF EULESS, TEXAS
REVENUE WATER AND SEWER BONDS
DEBT SERVICE CHARGES
Bonds Requirements
outstanding Principal Interest
Total
1977 $4,470,000 $ 120,000 $ 207,237 $ 327,237
1978 4,350,000 125,000 201,775 326,775
1979 4,225,000 130,000 196,088 326,088
1980 4,095,000 140,000 190,175 330,175
1981 3,955,000 145,000 183,800 328,800
1982 3,810,000 155,000 177,138 332,138
1983 3,655,000 160,000 170,075 330,075
1984 3,495,000 165,000 162,700 327,700
1985 3,330,000 175,000 154,960 329,960
1986 3,155,000 180,000 146,725 326,725
1987 2,975,000 200,000 138,175 338,175
1988 2,775,000 205,000 128,525 333,525
1989 2,570,000 210,000 118,650 328,650
1990 2,360,000 220,000 108,450 328,450
1991 2,140,000 165,000 97,800 262,800
1992 1,975,000 135,000 88,875 223,875
1993 1,840,000 120,000 82,800 202,800
1994 1,720,000 35,000 77,400 112,400
1995 1,685,000 130,000 75,825 205,825
1996 1,555,000 135,000 69,975 204,975
1997 1,420,000 145,000 63,900 208,900
1998 1,275,000 150,000 57,375 207,375
1999 1,125,000 120,000 50,625 170,625
2000 1,005,000 160,000 45,225 205,225
2001 845,000 170,000 38,025 208,025
2002 675,000 240,000 30,375 270,375
2003 435,000 190,000 19,575 209,575
2004 245,000 120,000 11,025 131,025
2005 125,000 125,000 5,625 130,625
$4,470,000
TABLE VI
$3,098,898 $7,568,898
46
CITY OF EULESS, TEXAS
INSURANCE IN FORCE
September 30, 1976
Fire and extended coverage,
80% coinsurance:
On contents of city offices,
jail, and community center
City offices, jail, and
community center
Library building
Library books and furnishings
Scheduled water and sewer
property
Fire station #1
Fire station #2, building
and contents
Vandalism and malicious mischief:
Scheduled water and sewer property
City offices, jail and community
center
Contents city offices, jail,
and community center
Comprehensive glass breakage:
City offices, jail, library,
and community center
Vehicle liability - all vehicles:
Bodily injury
Amusement liability
Vehicle - fire and theft, extended
coverage and $100 deductible
collision
Public employees blanket bond:
Specific employees
All other employees
Fire and extended coverage
houses on Sheppard Drive
House on 110 N. Sheppard
House on 114 N. Sheppard
House on 134 N. Sheppard
for
Drive
Drive
Drive
Fire and extended coverage for
Simmons Recreation Center
Expires Insurers
12- 1-76
12- 1-76
12- 1-76
12- 1-76
9- 3-79
12- 1-76
9- 3-79
9- 3-79
12- 1-76
12- 1-76
9-28-77
9-14-77
9- 3-77
9-14-77
2- 7-77
11-25-78
4-10-77
4-20-77
9-12-77
Amount of
insurance
3 $ 40,000
3 429,170
3 180,000
3 30,000
3 466,400
3 30,000
3 72,000
3
3
3
2
466,400
429,170
40,000
Scheduled
2 100/300,000
2 300,000
2
1
1
4
4
3
ACV
7,500
2,500
13,000
10,000
11,000
75,000
TABLE VII
47
CITY OF EULESS, TEXAS
INSURANCE IN FORCE
September 30, 1976
(Continued)
Insurers:
1. United States Fire Insurance Co.
2. North River Insurance Co.
3. Security National Insurance Co.
4. Commonwealth Lloyd Insurance Co.
5. International Insurance Co.
This statement is intended only as a descriptive summary;
no expression of opinion as to the adequacy of the coverage
is intended.
TABLE VII
48
CITY OF EULESS, TEXAS
MISCELLANEOUS STATISTICAL FACTS
Calculation of debt service coverage for
Water and Sewer Revenue Bonds for
contractual agreements with Trinity River
Authority payable from water and sewer
revenues:
Water and Sewer Revenue Fund income
available for debt service (Exhibit E-2) $582,532
Average annual requirements:
Water and Sewer Revenue Bonds $260,996
Coverage 2.23 times
See Exhibits E for Water and Sewer Enterprise Fund
financial statements and notes.
TABLE VIII
49
CITY OF EULESS, TEXAS
MISCELLANEOUS STATISTICAL FACTS
(Continued)
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 4,236
1970 census 19,316
1976 estimated 27,450
Building permits issued:
Year ended September 30, 1976
Estimated cost
167
$3,927,856
Full time City employees:
September 30, 1976 135
Police protection:
Number of stations 1
Number of certified officers 31
Fire protection:
Number of stations 2
Number of certified firefighters 24
Parks and recreation:
Number of swimming pools 3
Number of parks 7
Area of parks 68 acres
Community buildings 2
Library volumes 35,866
Education:
Elementary schools 6
Junior High Schools 2
High School 1
TABLE VIII
50
CITY OF EULESS, TEXAS
MISCELLANEOUS STATISTICAL FACTS
(Continued)
City Water and Sewer service:
Water service:
Number of meters at September 30, 1976
Maximum daily capacity available from
Trinity River Authority
Maximum daily capacity of City water
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:
Principal taxpayers
Sotogrande Apartment Complex
Ector Square Apartments
Tierco Warehouses and Land
Continental Telephone
Electronics, Inc.
Southwestern Bell Telephone
Co.
Texas Power and Light Co.
Teccor Electronics, Inc.
James Haddad Investment
Apartments
Paso Del Oeste Apartments
Burgundy Square Apartments
5,287
4,000,000 gallons
wells 5,000,000 gallons
9,000,000 gallons
5,570,000 gallons
3,346,000 gallons
96 miles
404
2,758,000 gallons
5,070
78 miles
452
135 miles
17.2 miles
Type of business
Apartments
Apartments
Land
Manufacturer
Utility
Utility
Manufacturer
Apartments
Apartments
Apartments
TABLE VIII
Assessed
valuation
$8,153,900
2,762,100
2,732,100
2,686,520
2,398,530
2,346,840
2,217,350
2,163,600
1,858,000
1,636,800
NL a -
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