HomeMy WebLinkAbout1 FY 202425 Annual Comprehensive Financial ReportCity of
Euless
Annual comprehensive Financial Report
Fiscal Year Ended September 30, 2025
201 N. Ector Drive, Euless, TX 76039 www.eulesstx.gov
THE CITY OF
EULESS
City of Euless, Texas
Annual Comprehensive Financial Report
Fiscal Year Ended
September 30, 2025
Prepared by
City of Euless
Finance Department
201 North Ector Drive
Euless, TX 76039
THE CITY OF
EULESS
CITY OF EULESS, TEXAS
ANNUAL COMPREHENSIVE FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2025
CONTENTS
INTRODUCTORY SECTION
Page(s)
Letter of Transmittal i-vii
City Officials viii
Organizational Chart ix
GFOA Certificate of Achievement x
FINANCIAL SECTION
Independent Auditor's Report 1-3
Management's Discussion and Analysis (unaudited) 5-19
Basic Financial Statements
Government -Wide Financial Statements
Statement of Net Position 20
Statement of Activities 21
Fund Financial Statements
Governmental Funds
Balance Sheet 22-23
Reconciliation of the Governmental Funds Balance Sheet to the
Statement of Net Position 25
Statement of Revenues, Expenditures and Changes in Fund Balances 26-27
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the Statement
of Activities 29
Proprietary Funds
Statement of Net Position 30-31
Statement of Revenues, Expenses, and Changes in Net Position 32-33
Statement of Cash Flows 34-35
Fiduciary Funds
Statement of Net Position 36
Statement of Changes in Fiduciary Net Position 37
Notes to Basic Financial Statements 39-84
Required Supplementary Information
Schedule of Changes in Net Pension Liability/(Asset)
and Related Ratios (Texas Municipal Retirement System) 87
Schedule of Contributions (Texas Municipal Retirement System) 88
Schedule of Changes in Net OPEB Liability and Related Ratios 89
Schedule of Contributions — OPEB Trust 90
Budgetary Comparison Schedules
General Fund 91-92
Car Rental Special Revenue Fund 93
Notes to Required Supplementary Information 94
Combining and Individual Fund Statements and Schedules
Non -Major Governmental Funds
Combining Balance Sheet 98-101
CITY OF EULESS, TEXAS
ANNUAL COMPREHENSIVE FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2025
CONTENTS -CONTINUED
Page(s)
Combining and Individual Fund Statements and Schedules - Continued
Non -Major Governmental Funds
Combining Statement of Revenues, Expenditures, and Changes
in Fund Balances 102-105
Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual
Hotel/Motel Special Revenue Fund 106
Half -Penny Sales Tax Special Revenue Fund 107
Police Drug Enforcement Special Revenue Fund 108
Crime Control and Prevention District Special Revenue Fund 109
Elementary School Resource Officer (ESRO) Special Revenue Fund 110
Grant Special Revenue Fund 111
Police Seized Assets Special Revenue Fund 112
Juvenile Case Special Revenue Fund 113
Glade Parks Public Improvement District Special Revenue Fund 114
TIRZ #3 Glade Parks Special Revenue Fund 115
Midtown Public Improvement District Special Revenue Fund 116
TIRZ #4 Midtown Special Revenue Fund 117
Cable PEG Fees Special Revenue Fund 118
Internal Service Funds
Combining Statement of Net Position 120
Combining Statement of Revenues, Expenses, and Changes in Net Position 121
Combining Statement of Cash Flows 122
STATISTICAL SECTION (Unaudited) Table
Net Position by Component 1 125
Changes in Net Position 2 126-127
Fund Balances, Governmental Funds 3 128
Changes in Fund Balances, Governmental Funds 4 129
Estimated Actual Value of Taxable Property 5 130
Direct and Overlapping Property Tax Rates 6 131
Principal Property Taxpayers 7 132
Property Tax Levies and Collections 8 133
Ratio of Outstanding Debt by Type 9 134
Ratio of Net General Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita 10 135
Direct and Overlapping Governmental Activities Debt 11 136
Schedule of Revenue Bond Coverage Water and Wastewater Bonds 12 137
Demographic Statistics 13 138
Principal Employers 14 139
Full-time City Government Employees by Function/Program 15 140
Operating Indicators by Function/Program 16 141
Capital Asset Statistics by Function/Program 17 142
INTRODUCTORY SECTION
THE CITY OF
EULESS
T H EEC I T Y OF
LESS
March 10, 2026
To the Honorable Mayor,
Members of the City Council, and Citizens of the City of Euless, Texas
The Finance Department and City Manager's Office are pleased to submit the Annual
Comprehensive Financial Report for the City of Euless, Texas ("City") for the fiscal year
ended September 30, 2025. This report complies with State law which requires that all
local governments publish, within six months of the close of each fiscal year, a complete
set of financial statements presented in conformity with accounting principles generally
accepted in the United States of America ("GAAP") and audited in accordance with
auditing standards generally accepted in the United States of America by a firm of
licensed certified public accountants.
This report is published to provide the City Council, City staff, citizens, bondholders, and
other interested parties with detailed information concerning the financial condition and
activities of the City. The report consists of City management's representations
concerning the finances of the City. Consequently, management assumes full
responsibility for the accuracy, completeness, and reliability of all of the information
presented in the report. To provide a reasonable basis for making these representations,
management of the City has established a comprehensive internal control framework that
is designed both to protect the City's assets from loss, theft, or misuse and to compile
sufficient reliable information for the preparation of the City's financial statements in
conformity with GAAP. Because the cost of internal controls should not outweigh the
benefits derived from them, the City's comprehensive framework of internal controls has
been designed to provide reasonable rather than absolute assurance that the financial
statements will be free from material misstatement. As management, we assert that, to
the best of our knowledge and belief, this financial report is complete and reliable in all
material respects.
The City's financial statements have been audited by Weaver and Tidwell, L.L.P., a firm
of licensed, certified public accountants. The goal of the independent audit is to provide
reasonable assurance that the financial statements of the City for the fiscal year ended
September 30, 2025, are free of material misstatement. The independent audit involved
examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements; assessing the accounting principles used and significant estimates
made by management; and evaluating the overall financial statement presentation. The
independent auditor concluded, based upon the audit, that there was a reasonable basis
for rendering an unmodified ("clean") opinion that the City's financial statements for the
fiscal year ended September 30, 2025, are fairly presented in conformity with GAAP.
The independent auditor's report is presented as the first component of the Financial
Section of this report.
201 N. Ector Drive, Euless TX 76039-3595
817/685-1400 Metro 817/267-4403 Fax 817/685-1416
www.eulesstx.gov
This report is presented in three sections: Introductory, Financial, and Statistical. The
Introductory Section includes this transmittal letter, a listing of City Officials, and an
organizational chart of the City. The Financial Section includes the Independent
Auditor's Report on the basic financial statements, Management's Discussion and
Analysis ("MD&A"), Basic Financial Statements, the Notes to the Basic Financial
Statements, and Combining and Individual Fund Statements and Schedules. The MD&A
is a narrative introduction, overview, and analysis to accompany the basic financial
statements. This letter of transmittal is designed to complement, and should be read in
conjunction with, the MD&A. The City of Euless' MD&A can be found immediately
following the independent auditor's report. The Statistical Section includes financial and
demographic information relevant to readers of the City's financial statements. The
statistical data is generally presented on a multi -year basis.
Profile of the City of Euless, Texas
The City of Euless is located in North Central Texas in Northeast Tarrant County
approximately 16 miles west of Dallas and 16 miles east of Fort Worth. Euless is readily
accessible by State Highway 183 which is a multi -lane expressway linking Dallas to Fort
Worth. Other major highways through the City include State Highway 121, State
Highway 360, State Highway 10 and Farm -to -Market Road 157. Euless' centralized
location provides quick access to both Dallas and Fort Worth metropolitan areas and is
adjacent to Dallas -Fort Worth International Airport ("DFW Airport"), one of the world's
busiest airports. The City encompasses approximately 16.2 square miles and serves a
population of approximately 61,601.
The City of Euless was incorporated February 24, 1953 and is a home rule city operating
under a Council/Manager form of government. The City Council is comprised of the
mayor and six council members who are elected at large. The Council has the authority
to enact local legislation, levy taxes, adopt budgets, determine policies, incur debt, and
appoint the City Secretary, City Attorney, Municipal Court Judge, and the City Manager.
The City Manager reports directly to the City Council, and is responsible for the daily
management of the various City departments. Council members serve three-year
staggered terms, with two council members elected each year. The Mayor is elected to
serve a three-year term. In addition, several boards and commissions were created to
assist the City Council in deciding matters of policy and procedure and meet on various
issues throughout the year.
The City of Euless provides a full range of services to its citizens including: police and
fire protection; emergency ambulance services; municipal court operations; development
and code services; construction and maintenance of streets and highways, parks, and
recreational facilities; water service and wastewater collection and treatment; and library
operations. The City also operates a top -ranked, 18-hole golf course and conference
center, youth athletic complex, and an aquatics center. Internal services of the City
account for risk management, equipment replacement, and employee insurance coverage
activities on a cost reimbursement basis. Private contractors, through franchise
agreements, provide solid waste and recycling collections and disposal services for the
City.
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Four component units of the City, the Euless Development Corporation, the Euless Crime
Control and Prevention District, Tax Increment Reinvestment Zone ("TIRZ") #3 - Glade
Parks, and Tax Increment Reinvestment Zone ("TIRZ") #4 - Midtown, are presented in
the financial statements of the City as blended component units. Data for these
component units is recorded in and presented as special revenue funds in the City's
financial statements. Additional information on these component units can also be found
in Note 1 in the Notes to the Basic Financial Statements.
The annual budget serves as the foundation for the City of Euless' financial planning and
control. Per the City Charter, the City Manager provides to the City Council the
proposed budget by August 1st each year. The budget is filed with the City Secretary and
is open for public inspection. Upon receipt of the budget, the City Council sets a date for
a public hearing at which time interested citizens may express their opinions regarding
the proposed budget. The Charter requires the Council to adopt the budget by a favorable
majority vote at least ten days prior to the beginning of the next fiscal year.
The City Manager is authorized to transfer budgeted amounts between line items and
departments within any fund; however, any revisions that alter the total expenditures of
any fund must be approved by the City Council. Budgetary control has been established
at the individual fund level. Financial reports are produced showing budget to actual
expenditures by line item and are distributed monthly to City departments for review.
Economic Condition
The information presented in the financial statements is perhaps best understood when it
is considered from the broader perspective of the specific environment within which the
City of Euless operates.
The City of Euless is located in Tarrant County in the heart of the Dallas/Fort Worth
("DFW") Metroplex and adjacent to the DFW Airport. Thus, the economic vitality of the
region significantly impacts the economic health of Euless.
DFW Airport reports itself as the third largest airport in terms of operations and third
largest in terms of passengers in the world, handling 86.9 million passengers annually.
According to the North Texas Commission, DFW is the 4th largest region in the U.S. and
has experienced tremendous growth during the past decade. With its highly -diversified
economy, DFW has a population of over 8.5 million, a Gross Domestic Product of $596.2
billion, a labor force of over 4 million with the fourth largest labor force of U.S.
metropolitan areas, a 3.18% job growth rate, and is home to 21 Fortune 500 Firms, 33
colleges and universities, 113 school districts, and 58 public charter schools. Such an
economic environment has helped the region weather economic downturns in key sectors
better than many other regions in the nation.
The AllianceTexas development in North Fort Worth is a 27,000-acre development that
has generated an estimated $130 billion in economic impact with over 590 companies,
generating 66,000 direct jobs. It is anchored by the inland port known as the Alliance
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Global Logistics Hub. This area offers a variety of commercial real estate options,
industrial space, office space, and retail facilities.
Assessed value for all residential and commercial property in the City of Euless is
estimated at approximately $7.4 billion for tax year 2025, which is a 1.2% increase from
the prior year, due to increases in both residential and commercial real estate property
values and to new growth. Sales tax collections increased 9.3% from FY2023-24 to
FY2024-25. Euless continues to look for additional revenue opportunities in order to
minimize the tax burden to citizens and strives to cut costs without impacting service.
The City receives a significant amount of revenue from a consolidated rental car facility
located at DFW Airport. The City Council has chosen to continue to use this funding
source to support general government operations and to cash flow capital projects in lieu
of debt issuance when possible. The City has been very cautious to not become overly
dependent on this volatile resource while providing for needed improvements for citizens.
The Dallas Cowboys AT&T Stadium, Texas Rangers Globe Life Park and Choctaw
Stadium in Arlington are located within minutes of Euless and, continue to attract
additional tourism to the City by hosting concerts and sporting events.
Euless population has increased from 54,050 to 61,601 in eleven years (North Central
Texas Council of Governments). The City's median household income is $80,897, which
compares favorably to $76,292 for Texas and $78,538 for the United States (U.S. Census
Bureau). The City's educational level is 91.1% high school graduate or higher, which
again is favorable to 85.7% for Texas and 89.4% for the United States (U.S. Census
Bureau).
The City of Euless has approximately 310.86 acres of undeveloped land.
Long -Term Financial Planning
The City of Euless has developed a comprehensive capital improvements document.
Such strategic planning has allowed the City Council to fund several major infrastructure
upgrades, park enhancements, and capital purchases in a systematic manner while
considering the full impact to the operating budget and tax requirements. Many of these
projects have been completed on a pay-as-you-go basis by utilizing operating revenues,
excess reserves, and rental car taxes.
The City Council and citizens of Euless have determined that debt issuance is a viable
method of financing major capital projects and equipment purchases. Analysis of
potential debt issuance includes the operating impact the repayment thereof will have on
citizens, property tax rates, and enterprise fund service fee revenues. Per the City's fiscal
policies, long-term debt will not be used for operating purposes and the life of the debt
instruments will not exceed the useful life of the projects or equipment financed. Policy
also specifies that debt with an average life of 20 years or less will be issued to reduce net
interest cost and maintain future flexibility by paying off debt earlier. The majority of the
City's existing long-term debt was used to finance infrastructure needs and traditional
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government facilities such as fire and police stations, streets, utility infrastructure, and
development of parks and open spaces.
The City's fiscal policies state current expenditures will be paid with current revenues.
Deferrals, short-term loans, or one-time sources will be avoided as budget balancing
techniques. Reserves will be used for emergencies or nonrecurring expenditures, except
when balances can be reduced because levels exceed guidelines or legally -required
minimums.
Fiscal policies provide for a General Fund reserve equal to between 30 and 60 days of
working capital. At no time shall the reserve fall below 8.3% of the General Fund
expenditure budget (i.e. 30-day level). The current operating reserve is at 171 days of
operations. At the end of the current year, the City was in compliance with this fiscal
policy reserve level.
The City's fiscal policies for the Water and Wastewater Fund require the maintenance of
a minimum reserve of 45 to 75 days of working capital. The City currently maintains a
92-day reserve. Water and Wastewater revenue bond covenants require the City to
maintain reserve amounts sufficient to cover the average annual debt service
requirements. This revenue bond reserve is in addition to the working capital required by
the City's fiscal policies and is maintained in a separate fund on the general ledger. As of
September 30, 2025, the revenue bond reserve totaled $695,299 which meets the required
average annual debt service per bond covenants.
Standard & Poor's Ratings Services, a subsidiary of the McGraw-Hill Companies, Inc.
rates the City's general obligation debt at AA+ and has sales tax revenue debt at AA and
the water and wastewater revenue debt at AA+. Moody's Investor Service, Inc. rates the
general obligation debt and water and wastewater revenue debt at Aa2. Additional
information about the rating agencies or the significance of the ratings provided may be
obtained from each agency's web site.
Major Initiatives
The City has partnered with Tarrant County, surrounding cities, local churches, and
businesses to renovate qualifying homes in the community through the Tarrant County
Home Program and the Community Powered Revitalization Program ("CPR"). Through
these partnerships, the cities of Hurst, Euless, and Bedford have joined forces to assist
qualifying residents in all three communities.
The City participates in tax abatement programs as addressed in the Notes to Basic
Financial Statements Note 1. Currently, there are no active property tax abatement
agreements. Requests are considered on a case by case basis for economic development,
redevelopment, stimulus, or retention. The City has various General Economic
Development Agreements via Texas Local Government Code Chapter 380. These
agreements are to stimulate economic development in the City, are authorized by City
Council, are considered on a case by case basis, and are reflected in the budget and
financial statements of the General Fund Non -Departmental Division and the Euless
Development Corporation Fund.
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The City's Capital Improvements Program and Americans With Disability Act ("ADA")
Transition Plan address facility needs of the City. The Parks Master Plan, recently
updated, focuses on improving the quality of life for the community, includes additional
hike/bike trails, park amenities and upgrades. The City believes it is critical that the
street, water, wastewater, and drainage systems are properly maintained and
systematically upgraded. While these are not glamorous, these represent the most basic
governmental functions. Deferral of these projects creates a financial burden for future
generations.
Work continues on a significant number of these capital improvement projects. Street
reconstruction work on West Pipeline Road is underway and should be completed over
the course of the upcoming year. Street maintenance and overlays were completed in
accordance with Pavement Condition Index (PCI) scoring criteria during FY2024-25.
Public Works continued their partnership with Tarrant County to complete several street
improvements throughout the City. Water and wastewater line replacement projects were
substantially completed in the Trailwood Addition, Cedar Hill Estates, and in multiple
areas in South Euless. Fire Station No. 2 was completed last year and the renovation of
the animal shelter be completed soon. The Police and Court facility renovation is
proceeding on schedule. New playgrounds and shade structures at several different parks
were completed during FY2024-25. Other projects starting include Kiddie Carr Park
improvements, Parks at Texas Star redevelopment, and South Euless Park improvements.
Waterbend, a large ongoing 66-acre mixed -use development, combining residential living
with shopping, dining, and entertainment, is currently underway. This vibrant community
will offer abundant open space, a signature water feature, and an environment designed
for connection and convenience.
Trinity High School is undergoing a massive, multi -phase rebuilding project funded by
the HEB ISD Bond 2023, replacing its aging 1969 campus with modern facilities,
including a new main academic building, competition gym, arts wing, and consolidated
learning spaces, all while students remain on -site in a carefully phased construction plan
that began in 2024-2025 and extends through the early 2030s. Additionally, three
elementary schools will be impacted through new campus designs and modern learning
spaces, with schools like Wilshire, Bell Manor, and Midway Park being part of the bond
funding.
The H-E-B Euless grocery store, currently under construction in the Glade Parks area of
Euless, is set to open in 2026, offering expanded departments, fresh Texas BBQ, sushi,
Fuel & Car Wash, drive-thru pharmacy, and curbside pickup, aiming to serve the Mid -
Cities community.
Glade Parks, a large, evolving 194-acre mixed -use center, is a massive, multi -phase
project that has been developing for years and is still growing, adding substantial retail,
restaurant, and entertainment options.
New hotel construction continues at a brisk pace with projects such as a new 107-room
Cambria Hotel, near East Airport Freeway and Fuller -Wiser Road, a new 114-room
Holiday Inn Express, near Highway 360, and a new 104-room Atwell Suites Hotel, near
vi
Fuller -Wiser Road and the Highway 183 frontage road. Newly opened restaurants in
Euless include Cold Beers and Cheeseburgers, in the Glade Parks development, Valerie's
Taco Shop on East Airport Freeway, HTeaO on North Main Street, Argentina 163 on
West Harwood Road, The Brass Tap in the Shops at Vineyard Village, and Euless'
second location of Raising Cane's on South Industrial Boulevard.
Awards and Acknowledgements
The Government Finance Officers Association ("GFOA") awarded a Certificate of
Achievement for Excellence in Financial Reporting to the City of Euless for its Annual
Comprehensive Financial Report for the fiscal year ended September 30, 2024. The
Certificate of Achievement is a prestigious national award recognizing conformance with
the highest standards for preparation of state and local government financial reports. In
order to be awarded a Certificate of Achievement, a government unit must publish an
easily readable and efficiently organized Annual Comprehensive Financial Report, whose
contents conform to program standards. Such report must satisfy both Generally
Accepted Accounting Principles and applicable legal requirements.
The City has been awarded a Certificate of Achievement for the last 38 consecutive
years. We believe that the current Annual Comprehensive Financial Report meets the
Certificate of Achievement program requirements and are submitting it to GFOA for
review.
In addition, the City of Euless received the GFOA's Distinguished Budget Presentation
Award for its annual budget document. The City of Euless has received the
Distinguished Budget Award for the last 34 years. In order to qualify for the award, the
City's budget document was judged to be proficient in several categories, including as a
policy document, a financial plan, an operations guide, and a communications device.
The preparation of this report on a timely basis could not have been accomplished
without the efficient and dedicated services of the entire staff of the Finance Department.
Appreciation is expressed to City employees throughout the organization, especially
those who were instrumental in the successful completion of this report.
We would like to thank the Mayor and members of the City Council for their support in
planning and conducting the financial operations of the City in a responsible,
professional, and progressive manner. As always, the City of Euless staff welcomes and
appreciates your comments.
Respectfully Submitted,
Chris Barker
City Manager
Janina Jewell
Director of Finance
vii
City of Euless
FISCAL YEAR 2024-25
Council Members
LINDA MARTIN, MAYOR
Tim Stinneford, Mayor Pro Tem, Place One
Jeremy Tompkins, Place Two
Eddie Price, Place Three
Perry Bynum, Place Four
Annabel Eads, Place Five
Tika Paudel, Place Six
Chris Barker, City Manager
Steven Viera, Assistant City Manager
Lawrence Bryant, Assistant City Manager
viii
THE CITY OF
EULESS
ORGANIZATIONAL CHART
CITIZENS OF EULESS
MAYOR & COUNCIL
Chris Barker, City Manager
February 5, 2026
CITY ATTORNEY
Wayne K. Olson
1-r
ASSISTANT CITY MANAGER
Lawrence Bryant
CITY SECRETARY
Kim Sutter
CITY MANAGER
Chris Barker
MUNICIPAL COURT JUDGE
Lacy Britten
MUNICIPAL COURT
OF RECORD
DIRECTOR OF PUBLIC WORKS
Meier Janes
DIRECTOR OF FINANCE
Janina Jewell
LIBRARY DIRECTOR
Angela Jones
GENERAL MANAGER TEXAS STAR
Glenda Hartsell -Shelton
INUNI CI PAL COURT MANAGER
Claudia Ondntern
POLICE CHIEF
Gary nder5
FIRE CHIEF
Dana Bennett
DIRECTOR OF PLANNING AND
ECONOMIC DEVELOPMENT
LW Payne{Inter]rni
ASSISTANT CITY MANAGER
Steven Viera
DIRECTOR OF PARRS AND
COMMUNITY SERVICES
Duane Straws
FLEET AND FACILITIES DIRECTOR
XyIe McAdams
DIRECTOR OF HUMAN RESOURCES
AND RISK MANAGEMENT
Heather Moorhead
INFORMATION SERVICES DIRECTOR
5entt lance
ix
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Euless
Texas
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
September 30, 2024
aeu it" P- tei t(
Executive Director/CEO
x
FINANCIAL SECTION
THE CITY OF
EULESS
we ave ram►
sort'
Independent Auditor's Report
To the Honorable Mayor,
City Council and City Manager
City of Euless, Texas
Report on the Audit of the Financial Statements
Opinions
2300 North Field Street, Suite 1000
Dallas, Texas 75201
972-490-1970
We have audited the accompanying financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate remaining fund information of the City of Euless, Texas (City)
as of and for the year ended September 30, 2025, and the related notes to the financial statements which
collectively comprise the City's basic financial statements as listed in the table of contents.
In our opinion, the accompanying financial statements present fairly, in all material respects, the respective
financial position of the governmental activities, the business -type activities, each major fund, and the
aggregate remaining fund information of the City, as of September 30, 2025, and the respective changes in
financial position, and, where applicable, cash flows thereof for the year then ended in accordance with
accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards issued by the Comptroller General of the United States (Government Auditing Standards). Our
responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of
the Financial Statements section of our report. We are required to be independent of the City and to meet our
other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Responsibilities of Management for the Financial Statements
The City's management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair presentation
of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going
concern for twelve months beyond the financial statement date, including any currently known information
that may raise substantial doubt shortly thereafter.
Weaver and Tidwell, L.L.P.
1 CPAs AND ADVISORS I WEAVER.COM
The Honorable Mayor,
City Council and City Manager
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not
a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will
always detect a material misstatement when it exists. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered
material if there is a substantial likelihood that, individually or in the aggregate, they would influence the
judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the City's internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the City's ability to continue as a going concern for a reasonable period
of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control —related matters
that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management's
discussion and analysis, and the required supplementary information, as listed in the table of contents, be
presented to supplement the basic financial statements. Such information is the responsibility of management
and, although not a part of the basic financial statements, is required by the Governmental Accounting
Standards Board who considers it to be an essential part of financial reporting for placing the basic financial
statements in an appropriate operational, economic, or historical context. We have applied certain limited
procedures to the required supplementary information in accordance with GAAS, which consisted of
inquiries of management about the methods of preparing the information and comparing the information for
consistency with management's responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or
provide any assurance on the information because the limited procedures do not provide us with
sufficient evidence to express an opinion or provide any assurance.
2
The Honorable Mayor,
City Council and City Manager
Other Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City's basic financial statements. The combining and individual nonmajor fund financial
statements and schedules are presented for purposes of additional analysis and are not a required part of the
financial statements.
The combining and individual nonmajor fund financial statements and schedules are the responsibility of
management and were derived from and relate directly to the underlying accounting and other records used
to prepare the basic financial statements. Such information has been subjected to the auditing procedures
applied in the audit of the basic financial statements and certain additional procedures, including comparing
and reconciling such information directly to the underlying accounting and other records used to prepare the
basic financial statements or to the basic financial statements themselves, and other additional procedures in
accordance with GAAS. In our opinion, the combining and individual nonmajor fund financial statements
and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a
whole.
Other Information Included in the Annual Comprehensive Financial Report (ACFR)
Management is responsible for the other information included in the ACFR. The other information comprises
the introductory and statistical sections but does not include the basic financial statements and our auditor's
report thereon. Our opinions on the basic financial statements do not cover the other information, and we do
not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial
statements, our responsibility is to read the other information and consider whether a material inconsistency
exists between the other information and the basic financial statements, or the other information otherwise
appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected
material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
March 10, 2026, on our consideration of the City's internal control over financial reporting and on our tests
of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of
the City's internal control over financial reporting or on compliance. That report is an integral part of an
audit performed in accordance with Government Auditing Standards in considering the City's internal
control over financial reporting and compliance.
Lf�PfiiLcP/L
WEAVER AND TIDWELL, L.L.P.
Dallas, Texas
March 10, 2026
3
THE CITY OF
EULESS
CITY OF EULESS, TEXAS
MANAGEMENT'S DISCUSSION AND ANALYSIS
FOR THE YEAR ENDED SEPTEMBER 30, 2025 (UNAUDITED)
Management of the City of Euless offers the readers of the City's financial statements this narrative
overview and analysis of the financial activities and financial position of the City for the fiscal year
ended September 30, 2025. In the broadest context, the financial well-being of a government lies in the
underlying wealth and willingness of its citizens and property owners to pay adequate taxes combined
with the vision of the government's elected and appointed leadership to spend those taxes strategically
so that the City's tax base, service levels, City assets, and the City's desirability will be maintained not
just for the current year but well into the future.
Financial reporting is limited in its ability to provide the "big picture" but rather focuses on financial
position and changes in financial position. In other words, are revenues and/or expenditures higher or
lower than the previous year? Has net position (containing both short-term and long-term assets and
liabilities) or fund balance (the current "spendable" assets less current liabilities) of the government been
maintained? Readers are encouraged to consider the information presented here in conjunction with the
additional information furnished in the letter of transmittal (pages i-vii of this report) and the statistical
section (pages 125-142 of this report) as well as information in the annual budget and the capital
improvement plan along with other community information found on the City's website at
www.eulesstx.gov. It should be noted that the Independent Auditor's Report describes the auditors'
association with the various sections of this report and that all of the additional information from the
website and other City sources is unaudited.
Financial Highlights
• The assets and deferred outflows of resources of the City of Euless exceeded its liabilities and
deferred inflows of resources at the close of the most recent fiscal year by $394,548,403 (net
position). This number must be viewed in the context that the vast majority of the City's net
position of $254,181,773 (64%) is net investment in capital assets and that most capital assets in
government do not directly generate revenue nor can they be sold to generate liquid capital. The net
position restricted for specific purposes totaled $13,645,962 (4%). The remaining $126,720,668
(32%) is unrestricted net position and may be used to meet the government's ongoing obligations to
citizens and creditors in accordance with the City's fund designation and fiscal policies.
• Governmental activities realized an increase in total net position of $32,054,038 and business -type
activities realized an increase in total net position of $10,532,061 bringing the total increase in net
position for the City to $42,586,099.
• At the close of the current fiscal year, the City of Euless' governmental funds reported combined
ending fund balances of $105,268,296 which represents a decrease of $11,370,761. Within this total,
$4,368,968 is restricted for debt service; $10,820,938 is restricted by bond covenants for capital
projects; $162,433 and $292,813 are restricted for court technology/building security and juvenile
case management, respectively; and another $2,912,798 is restricted for capital projects by developer
agreements. Amounts restricted for cable PEG fees and historical preservation total $652,693 and
$843, respectively. Another $62,463 is restricted for opioid remediation. Nonspendable fund
balance of $231,179 represents fund balance amounts for inventories and prepaid items. Fund
balances of $56,448,263 represent assigned fund balance in the general, special revenue, and capital
projects funds. The unassigned fund balance in the General Fund of $29,343,626 can be used for any
5
lawful purpose, while the Midtown PID fund has a deficit fund balance of $28,721. The General
Fund unassigned balance represents 53% of fiscal year 2025 total fund expenditures.
• The City's total capital and intangible assets (net of accumulated depreciation and amortization)
increased by $36,030,402 which is attributed to completion of capital improvement projects and
other asset additions including construction in progress exceeding current year depreciation expense
and asset retirements.
• The City's debt payable decreased by $15.6 million or 16% due primarily to payments on existing
debt plus amortization of premiums and discounts outpacing new debt issuance. The early
redemption of a large portion of the Glade Parks Debt and the Golf Course Debt accounts for
approximately $8 million of the decrease.
OVERVIEW OF THE FINANCIAL STATEMENTS
The discussion and analysis are intended to serve as an introduction to the City of Euless' basic financial
statements which are comprised of three components: 1) government -wide financial statements, 2) fund
financial statements, and 3) notes to the financial statements. This report also contains other required
supplementary information in addition to the basic financial statements themselves.
Government -wide Financial Statements. The government -wide financial statements are designed to
provide readers with a broad overview of the City of Euless' finances, in a manner similar to a private -
sector business.
The statement of net position presents information on all of the City of Euless' assets and deferred
outflows of resources and liabilities and deferred inflows of resources, with the difference between them
reported as net position. Over time, increases or decreases in net position may serve as a useful
indicator of whether the financial position of the City of Euless is improving or deteriorating.
The statement of activities presents information showing how the City's net position changed during the
fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the
change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported
in this statement for some items that will only result in cash receipts and cash outlays in future fiscal
periods (e.g., uncollected taxes and earned but unused compensated absences).
The government -wide financial statements distinguish between functions of the City that are principally
supported by taxes and intergovernmental revenues (governmental activities) from other functions that
are intended to recover all or a significant portion of their costs through user fees and charges (business -
type activities). The governmental activities functions of the City include general and administrative,
public safety, highways and streets, development services, and culture and recreation. The business -type
activities of the City include water and wastewater system, drainage system, golf course, and other
recreational enterprises.
The government -wide financial statements include not only the City of Euless (the primary
government), but also the Euless Development Corporation, the Crime Control and Prevention District,
the Tax Increment Reinvestment Zone #3 — Glade Parks, and Tax Increment Reinvestment Zone #4 —
Midtown which are legally separate entities that are financially accountable to the City. A blended
presentation has been used to report the financial information of these component units.
6
The government -wide financial statements can be found on pages 20-21 of this report.
Fund Financial Statements. A fund is a self -balancing set of accounts that is used to maintain control
over resources that have been segregated for specific activities or objectives. The City of Euless, like
other state and local governments, uses fund accounting to ensure and demonstrate compliance with
finance -related legal requirements. All of the funds of the City can be divided into three categories:
governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds. Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government -wide financial statements with the exclusion of
internal service fund activity. However, unlike the government -wide financial statements, governmental
fund financial statements focus on near -term inflows and outflows of spendable resources, as well as on
balances of spendable resources available at the end of the fiscal year. Such information may be useful
in evaluating a government's near -term financing requirements.
Because the focus of governmental funds is narrower than that of the government -wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government -wide financial statements. By
doing so, the reader may better understand the long-term impact of the government's near -term
financing decisions. Both the governmental fund balance sheet and the governmental fund statement of
revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this
comparison between governmental funds and governmental activities.
The City maintains twenty-four individual governmental funds. Information is presented separately in
the governmental funds balance sheet and in the governmental funds statement of revenues,
expenditures, and changes in fund balances for the General, Debt Service, Car Rental Tax, General CIP
and Police CIP funds, all of which are considered to be major funds. Data from the other nineteen
governmental funds are combined into a single, aggregate presentation. Individual fund data for each of
these non -major governmental funds is provided in the form of combining statements elsewhere in this
report.
The City adopts an annual appropriated budget for its General and Car Rental Tax major governmental
funds. A budgetary comparison schedule has been provided for each fund to demonstrate compliance
with the adopted budgets.
The basic governmental fund financial statements can be found on pages 22-29 of this report.
Proprietary funds. The City maintains two different types of proprietary funds. Enterprise funds are
used to report the same functions presented as business -type activities in the government -wide financial
statements. The City uses enterprise funds to account for its water and wastewater, drainage utility, golf
operations, and other recreation enterprises. Internal service funds are an accounting device used to
accumulate resources and allocate costs internally among the City's various functions. The City uses
internal service funds to account for its equipment replacement, risk management, and health insurance
services. Because these services predominately benefit governmental rather than business -type
functions, a portion of the activities in these funds is included within governmental activities in the
government -wide financial statements.
7
Proprietary funds provide the same type of information as the government -wide financial statements,
only in more detail. The proprietary fund financial statements provide separate information for Water
and Wastewater, Drainage Utility, Golf, and Other Recreation enterprises all of which are considered to
be major funds of the City. The internal service funds are combined into a single, aggregate
presentation in the proprietary fund financial statements. Individual data for the internal service funds is
provided in the form of combining statements elsewhere in this report.
The basic proprietary fund financial statements can be found on pages 30-35 of this report.
Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties
outside the government. Fiduciary funds are not reflected in the government -wide financial statements
because the resources of those funds are not available to support the City's own programs. The
accounting used for fiduciary funds is much like that used for proprietary funds.
The basic fiduciary fund financial statements can be found on pages 36 and 37 of this report.
Notes to the financial statements. The notes provide additional information that is essential to a full
understanding of the data provided in the government -wide and fund financial statements. The notes to
the financial statements can be found on pages 39-84 of this report.
Other information. In addition to the basic financial statements and accompanying notes, this report
also presents certain required supplementary information concerning the City's progress in funding its
obligations to provide pension and post -employment healthcare benefits to its employees. Additionally,
schedules comparing budgetary figures and actual results of the General and Car Rental Tax funds are
also located in this section of the report. Required supplementary information can be found on pages
87-94 of this report.
The combining statements referred to earlier in connection with non -major governmental funds and
internal service funds are presented immediately following the required supplementary information on
pensions, other post -employment benefits("OPEB"), and budgetary comparisons. Combining and
individual fund statements and schedules can be found on pages 98-122 of this report.
Government -Wide Financial Statement Analysis
As noted earlier, net position and especially net position by category may serve over time as a useful
indicator of a government's fmancial position. In the case of the City of Euless, assets and deferred
outflows of resources exceeded liabilities and deferred inflows of resources by $394,548,403 as of
September 30, 2025.
The largest portion of the City's net position (64%) reflects its investment in capital assets (i.e., land,
buildings, equipment, improvements, construction in progress, and infrastructure) net of accumulated
depreciation and amortization, less any debt used to acquire those assets that is still outstanding. The
City uses these capital assets to provide services to citizens; consequently, these assets are not available
for future spending and with the exception of business -type assets, do not generate direct revenue for the
City. They do, however, represent an obligation on the part of the City to maintain these assets into the
future.
8
Although the City's investment in its capital assets is reported net of related debt, it should be noted that
the resources needed to repay this debt must be provided from other sources, since the capital assets
themselves cannot be used to liquidate these liabilities.
An additional portion of the City's net position (4%) represents resources that are subject to external
restrictions on how they may be used. The remaining balance of unrestricted net position of
$126,720,668 (32%) may be used to meet the City's ongoing obligations to citizens, creditors, and
employees.
Net Position
Amounts shown in 000's
Governmental
activities
2025 2024
Current and other assets $ 165,448 $ 171,825
Capital assets 220,592 190,818
Total assets 386,040 362,643
Total deferred outflows 8,500 12,223
Long-term liabilities 91,217 107,629
Other liabilities 22,891 20,718
Total liabilities 114,108 128,347
Total deferred inflows 11,809 9,950
Net position:
Net investment in capital
assets
Restricted
Unrestricted
Total net position
Business -type
activities
Total
2025 2024 2025 2024
$ 49,715 $ 51,774
100,938 94,682
$ 215,163 $ 223,599
321,530 285,500
150,653 146,456 536,693 509,099
1,628 2,489 10,128 14,712
18,078 21,345 109,295 128,974
6,645 10,767
29,536 31,485
24,723 32,112 138,831 160,459
1,633 1,440 13,442 11,390
167,340 133,199 86,841 78,063 254,181 211,262
8,453 9,033 5,193 4,874 13,646 13,907
92,830 94,337 33,891 32,456 126,721 126,793
$ 268,623 $236,569 $ 125,925 $115,393 $ 394,548 $ 351,962
As of September 30, 2025, the City reports positive balances in all three categories of net position, for
the government as a whole, as well as for its separate governmental and business -type activities. The
same was true for the prior year.
The City's unrestricted net position decreased by $72,083 in fiscal year 2025 as compared to the
unrestricted net position for the prior year. Restricted net position realized a decrease of $261,354 and
the amount invested in capital assets, net of related debt increased by $42,919,536. The increase in total
net position of nearly $42.6 million results primarily from current year operating results flowing to the
net investment in capital assets. The details of the results of current year operations are found in the
table shown on the following page.
9
Changes in Net Position
Amounts shown in 000's
Governmental Business -type
Activities Activities
Totals
2025 2024 2025 2024 2025 2024
REVENUES
Program revenues:
Charges for services $ 12,180 $ 7,525 $ 40,826 $ 40,918 $ 53,006 $ 48,443
Operating grants
and contributions 547 579 547 579
Capital grants
and contributions 7,423 851 9,624 7,446 17,047 8,297
General revenues:
Property taxes 31,877 30,133 - 31,877 30,133
Sales taxes 32,032 29,310 - 32,032 29,310
Car rental taxes 20,255 20,229 - 20,255 20,229
Mixed beverage taxes 259 213 - 259 213
Occupancy taxes 1,698 1,656 - 1,698 1,656
Gross receipts taxes 4,700 4,674 - 4,700 4,674
Investment income 7,611 8,707 1,506 1,708 9,117 10,415
Rents and royalties 1,424 1,144 - 1,424 1,144
Miscellaneous 2,157 1,769 - 2,157 1,769
Total revenues 122,163 106,790 51,956 50,072 174,119 156,862
EXPENSES
Culture and recreation 9,713 8,565 - 9,713 8,565
Development services 1,887 1,284 - 1,887 1,284
General government 29,658 28,889 - 29,658 28,889
Highways and streets 5,037 4,765 - 5,037 4,765
Public safety 39,200 33,777 - 39,200 33,777
Interest and fiscal charges 2,732 2,912 - 2,732 2,912
Water and wastewater 33,066 31,567 33,066 31,567
Drainage utility 1,678 1,595 1,678 1,595
Golf course 6,101 5,741 6,101 5,741
Recreation enterprises - 2,461 2,225 2,461 2,225
Total expenses 88,227 80,192 43,306 41,128 131,533 121,320
Increase (decrease) in net
position before transfers 33,936 26,598 8,650 8,944 42,586 35,542
Transfers (1,882) 485 1,882 (485)
Increase (decrease)
in net position 32,054 27,083 10,532 8,459 42,586 35,542
Net position, beginning 236,569 209,486 115,393 106,934 351,962 316,420
Net position ending $ 268,623 $ 236,569 $ 125,925 $ 115,393 $ 394,548 $ 351,962
Governmental activities. Governmental activities increased the City's net position by $32,054,038
thereby accounting for most of the growth (75%) in total net position. Sound fiscal management and
close monitoring of revenues and expenses allowed the City to realize an increase in governmental
activities net position before transfers of $33,936,110.
10
Total revenue for the governmental activities (excluding transfers) increased from the previous year
by $15.4 million due in part to a net increase in general revenues of $4.2 million. Program revenues
consisting of charges for services, grants, and contributions also realized an increase of $11.2 million
overall a large portion of which was realized in development charges for services and capital
contributions. General revenues are primarily comprised of property taxes, sales taxes, and car rental
taxes as well as investment income, rents and royalties, and miscellaneous revenues. Property tax
revenue increased due to an overall increase in taxable values of 7.3% over the prior year values
(See Statistical Table 5). Rising consumer confidence, elevated demand, and continued inflationary
pressures are driving costs upward resulting in increased tax revenues across all categories.
Development services revenues were more than double those of the prior year primarily due to the
issuance of building permits for the Waterbend development (formerly Watercolor). Public safety
charges for services revenues rose by $857,000 for the year predominantly due to a full year of jail
revenue related to the Hurst detainee contract and the establishment of the Elementary School
Resource Officer (ESRO) Program with the Hurst -Euless -Bedford (HEB) ISD. Streets and
highways realized an increase of $6.6 million in capital grants and contributions due to developer
dedications for the Waterbend development and the recognition of American Rescue Plan Act
(ARPA) proceeds.
Total expenses of governmental activities increased by $8 million from FY2024 to FY2025. The
FY2025 Operating Budget included a 3.5% baseline salary increase for public safety personnel plus
merit increases expected to average 3.5% for non-public safety employees across all funds. Benefits
based upon salaries also increased accordingly. Several positions were added in FY2025 including
an ESRO manager, a public works water field technician and a parks field technician. Additionally,
the budget included an upgrade for an office technician at Texas Star Golf Course. The
implementation of the new GASB standard for compensated absences accounts for an increase in
governmental activities expenses of more than $3.3 million. Pension -related entries decreased
salary -related expenses by $1.3 million in the prior year, and decreased governmental expenses by
approximately $12,000 in FY2025. The overall difference between the two years' expenses totals
almost $4.2 million mostly due to the recording of changes in and amortization of deferred outflows
and deferred inflows combined with a decrease of $5.2 million in the net pension liability. OPEB-
related expenses which includes the change in the net OPEB liability, related deferred inflows and
deferred outflows, as well as the amortization of the deferrals decreased salary -related expenses by
approximately $1.8 million compared to a decrease in expenses of less than $1.1 million in the prior
year. Rebates and revenue sharing increased by $1 million primarily as a result of increased sales,
occupancy, and car rental taxes. Additionally, Euless and Bedford entered into an interlocal
agreement related to revenue sharing of the HEB grocery store currently under construction. The
facility spans portions of both Euless and Bedford.
Culture and recreation (CR) expenses rose approximately $1.2 million from FY2024 to FY2025.
This is primarily due to the employee raise package mentioned previously along with associated
benefits as well as the additional parks field tech. These changes account for approximately
$627,000 of the total increase. Other CR expenses increased by about $521,000 due in large part to
the addition of playground canopies at McCormick, J.A. Carr, and Wilshire parks. Additionally,
funds were allocated to facilitate the early redemption of the outstanding Golf Course Debt. In the
current fiscal year, development services realized an increase of $600,000 overall most of which is
attributable to commercial plan review. Salaries and related benefits account for the majority of the
remaining increase. General and administrative (G&A) service costs realized an increase of more
than $768,000 predominantly driven by salary and benefit increases approved by Council.
Contingencies increased by $250,000 due to the purchase of new rifles for the police department and
11
plumbing repairs at Texas Star Golf Course. As mentioned before, revenue sharing and rebates also
contributed to the overall increase in G&A. Public safety realized the largest increase, $5.4 million,
in expenses. Nearly all of this is attributable to salary and benefit increase from the raise package
and the addition of the ESRO program. The use of the Hurst jail facility during construction of
Euless' court and police building remodel increased costs by $86,000. Euless' portion of the
upgrade to the NETCO radio system totaled $137,000, while the ESRO non -salary and benefit costs
were more than $193,000. The net position of general governmental operations accounts for 68% of
total net position.
• Business -type activities. Business -type activities increased the City's net position by $10,532,061.
The change in net position before transfers is $8,649,989. Charges for services program revenues
for the business -type activities dropped from the previous year by $92,000 due primarily to the
closure of the golf course throughout the summer months for renovation which resulted in a decline
in revenues of over $1M. This, combined with increased Water and Wastewater ("W&WW")
revenues and drainage revenues of $500,000 and $310,000, respectively resulted in the net decrease.
Water rates increased 320 per thousand gallons on the volumetric rate to cover the Trinity River
Authority (TRA) cost increases. Volumetric rates for wastewater increased 360 per thousand gallons
to cover the pass -through increase from TRA for wastewater treatment. The City received almost
$341,000 from TRA for the annual water and wastewater cost true -up calculations. Capital grants
and contributions increased by more than $2.2 million due largely to additional developer
contributions of W&WW and drainage infrastructure combined with American Rescue Plan Act
(ARPA) funding for water and wastewater projects. Investment revenues declined by just over
$200,000 due to a downturn in market rates as well as a reduction in funds available to invest.
Overall, total business -type expenses realized a net increase for the year of $2.2 million combined.
Water purchases dropped by $285,000 due to a decline in sales volume coupled with TRA rate
increases; while wastewater treatment costs climbed by $740,000 from the prior year predominantly
as a result of increased TRA rates. Increased costs of $360,000 at the golf course resulted mostly
from higher costs for salaries, benefits, and equipment replacement as well as adjustments for
pension and OPEB. Implementation of the new GASB standard for compensated absences increased
business -type activities expenses by $698,000. Net pension, net OPEB, and related deferral entries
combined decreased expenses by almost $350,000 in the business -type activities this year compared
to an increase of approximately $300,000 in the prior year. Net position for business -type activities
represents 32% of total net position.
Financial Analysis of the City's Funds
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance -
related legal requirements.
Governmental funds. The focus of the City's governmental funds is to provide information on near -
term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the
City's financing requirements. In particular, unassigned fund balance may serve as a useful measure of
a City's net resources available for spending at the end of the fiscal year.
At the end of the current fiscal year, the City of Euless' governmental funds reported combined ending
fund balances of $105,268,296, which represents a decrease of $11,370,761 in comparison with the prior
year. Approximately 28% or $29.3 million constitutes unassigned fund balance in the general fund that
is available for spending at the City's discretion. Another $231,179 in non -spendable fund balance
12
represents amounts invested in inventories and prepayments. Another portion is restricted to indicate
that it is not available for new spending because it has already been committed 1) to pay debt service
($4,368,968); 2) to pay for specific capital improvements per developer agreements ($2,912,798); 3)
restricted by bond covenants for specific capital projects ($10,820,938); and 4) for a variety of other
restricted purposes ($1,171,245). Assigned fund balance includes funds that management intends to use
for a specific purpose as well as any residual balances of governmental funds other than the general
fund. Assigned fund balance totals $56,448,263 and includes assigned fund balance in the general fund
of $210,748 and $56,237,515 represents positive residual balances in other governmental funds. The
Midtown PID special revenue fund carries a negative fund balance of $28,721. See discussion under
Fund Balance Classifications in Note 1 of the Notes to Basic Financial Statements for additional details.
General fund budgetary analysis. In the General Fund, the City budgeted for a decrease in fund
balance (i.e. a planned reduction) of $6,875,217 which was revised to a decrease of $7,444,792. Due to
a positive budget variance in overall revenues and expenditures, the General Fund ended the year with
an increase in fund balance of $6,632,634. This figure represents a positive budget variance of
$14,077,426 resulting primarily from sales tax collections, municipal court fines, ambulance fees, rental
income, building permit revenue, and investment income realizing significant increases over
expectations. The positive variance in sales tax collections results from conservative estimates used for
budgetary purposes as well as inflationary pressures driving consumer costs higher. For several years,
building permit revenue has exceeded projected levels. Management intentionally decided to
conservatively budget this revenue stream so that the City does not become overly dependent upon a
finite revenue source. As the City nears build -out, building permit collections will decline until reaching
a point more aligned with reconstruction and renovation levels. Permits for new construction will
decline drastically over time. Investment income budgetary projections were based on anticipated
FY2024 end -of -year collections which approximated about half of year-end actual results. As such, the
budget for FY2025 was far lower than end -of -year actual results.
General Fund budgetary expenditure savings total $4.7 million before transfers. General and
administrative ("G&A") expenditures account for approximately $2.8 million of the savings. New
positions and the raise package previously mentioned account for increases of $754,000 in this expense
category. Capital purchases realized budgetary savings of $1.4 million; all of which was rolled to
FY2026 for continuing projects at fiscal year-end. Subscription -based information technology
arrangement expenditures attained budgetary savings of $371,000 which included funding for financial
and human resource system software which was not yet implemented. Budgetary overages were
experienced in revenue sharing and rebates due in large part to higher than anticipated sales tax
collections. Public safety expenditures recognized budgetary savings of $1 6 million of which 94% is
related to salaries and benefits. A variety of open positions in the police department throughout the year
is primarily responsible for this variance.
General fund. Several General Fund revenue categories realized increases over the prior year including
current property tax collections, franchise fees, investment earnings, jail income, ambulance fees, and
building permits. Taxable property values increased over the prior year values by 7.3%, while the tax
rate dropped from 45.75¢ to 44.67¢ per $100 of taxable property valuation resulting in increased
property tax collections of more than $1.9 million. Sales tax collections exceeded those of the prior year
by close to $1.7 million due in large part to additional sales at existing businesses, continued consumer
confidence, and inflationary pressures increasing prices. Fines and fees rose by over $1 million which
includes an increase in jail income attributable to a full year of housing Hurst detainees, a rise in
ambulance revenues, and growth in municipal court fines. Building permit revenues outpaced prior year
collections by close to $3.9 million due predominantly to increased inspections performed and activity
13
in the Waterbend (formerly Watercolor) development as well as construction of the HEB grocery store
and Trinity High School. The issuance of SBITA debt dropped by close to $925,000 from the prior
year. Total revenues surpassed previous year levels by nearly $8.5 million.
Expenditures increased by $3.3 million or 6.4% above the prior year resulting from a combination of
increases and decreases across expenditure categories. Most of the increase is realized in development
services, G&A, and public safety. Approximately 80% of the $450,000 increase in development
services is due to third party plan review. G&A expenditures rose by $1 8 million primarily due to
increases in SBITA costs (mostly Microsoft), ambulance billing and collections fees due to higher
collections, and charges related to the new rifle program. One-time capital purchases climbed by more
than $470,000 primarily due to a one-time increase in street funding of $1 M, replacement of the HVAC
system in the finance building, and the upgrade of traffic signal equipment at a cost of $471,000
combined with reductions in equipment purchases and computer hardware of $426,000 and $872,000,
respectively. Unspent funding for capital purchases was rolled into FY2026 for continuing projects.
Public safety (PS) expenditures increased over prior year levels by $945,000 and is primarily
attributable to salaries and benefits ($778,000) as previously described. Other PS expenditures rose by
$167,000 due in large part to the payments to the City of Hurst for the use of their jail facility, training
and state certifications for the fire department, SCBA maintenance, and equipment rental. Transfers out
declined by $3.2 million because of a drop in funding for street CIP of $2.1 million and to general CIP
of $1 million. Debt service expenditures in the general fund result from principal and interest payments
on leases and subscription -based information technology arrangements and were relatively flat with
prior year levels.
Debt service fund. The Debt Service fund balance decreased $13,611. Compared to the prior year,
revenues decreased by $427,000. Property taxes declined by $466,000 from the prior year due in large
part to reduction in the property tax debt service rate as well as overpayments and frozen collections.
Expenditures rose by $5.9 million due to scheduled payments exceeding those of the prior fiscal year
plus the early redemption of most of the Glade Parks outstanding debt.
Car rental tax fund. The Car Rental Tax fund balance was originally anticipated to decrease $5.2
million but the revised budget showed a projected decrease of $6.5 million. This fund ended the year
with a fund balance decrease of $3,948,641 which is a positive variance of $2.6 million. Car rental tax
revenues were relatively flat with those of the prior year. Investment income decreased by $355,000 due
to lower market rates and a decline in debt funds available for investing. Per contractual agreement, the
car rental revenues are shared with the cities of Dallas and Fort Worth. Since the revenue collections
were relatively flat with the prior year, the same can be said about the revenue sharing amount.
However, one-time capital rose by $152,000 due mainly to the construction of a monument sign for city
hall and one-time special legal fees. The return of the $750,000 in seed money for the start-up of the
Glade Parks PID was recorded in the current fiscal year. Operating transfers to other funds increased
over the prior year by $1.9 million primarily due to funding of the golf course renovation project.
General CIP fund. The General CIP fund balance decreased by $2.5 million due predominantly to
capital expenditures on projects exceeding new project funding from transfers. Transfers in for project
funding declined by $6.8 million predominantly due to the funding of the animal shelter expansion in
the prior year. Investment income declined by more than $300,000 because of lower market rates and
less funds available for investment. Most of the capital expenditures were incurred for the animal
shelter expansion ($5 million) and fire station #2 remodel project ($1.6 million).
14
Police CIP fund. Investment income totaled $990,000 for the current year due to a reduction in the
amount available for investment as well as declining market rates. Professional and construction service
costs totaling $11.8 million were incurred on this project. This fund realized a decrease in fund balance
of $10.8 million.
Non -major governmental funds. The non -major governmental funds realized a combined decrease in
fund balance of $733,866; special revenue funds drew down fund balance by $7,515,557, while the
capital projects funds contributed $6,781,691 to the balance. The Crime Control and Prevention
District, Grant, Juvenile Case, Midtown PID, TIRZ #4 Midtown, Half -Penny Sales Tax CIP,
Developers' Contribution, Redevelopment, and Car Rental CIP funds increased total fund balances by
$11.9 million. The remaining non -major governmental funds recognized a drawdown of fund balances
of more than $12.6 million. Current year project funding for all CIP funds from transfers totaled $13
million while project expenditures totaled $7 million. Hotel/motel experienced a negative change in
fund balance of $353,000 due to approved one-time capital funding. Half -penny sales tax transferred
funding to CIP of $5.4 million which caused the fund balance to decrease $2.4 million. The Glade Parks
PID fund transferred the start-up seed money back to the car rental tax fund which resulted in a
$750,000 reduction of fund balance. The early redemption of debt caused a decline of fund balance in
the TIRZ #3 Glade Parks Fund. The CCPD contributed $576,000 to total fund balances as a result of
increased sales tax collections. The half -penny sales tax CIP fund added $4.5 million to fund balance
due to project funding outpacing expenditures. The street CIP fund drew down fund balance by more
than $4.4 million primarily due to project expenditures for West Pipeline Road, while the car rental CIP
fund added $5.7 million to fund balance as a result of current year funding for future projects.
Enterprise funds. The City's enterprise fund statements provide the same type of information found in
the government -wide financial statements for business -type activities, but in more detail. Most of the
City's enterprise funds are heavily dependent upon local weather conditions. During the year, rainfall
was short of that of a "normal" year by more than 21/2 inches and was also lower than prior year levels
by more than 5 inches. However, it should be noted that nearly 5 inches of rainfall was recorded for
August which is generally a high -volume sales month.
The W&WW fund realized a decline in operating income of $844,000 resulting principally from
increased operating revenues of more than $500,000 combined with an increase in expenses of $1.4
million. The W&WW fund revenues increased largely as a result of volumetric rate increases in water
consumption and wastewater treatment passed through from TRA. Water purchases and wastewater
treatment costs grew by $455,000 combined. Salary and benefit expenses increased by almost $630,000
resulting from the raises previously mentioned as well as the addition of a public works field tech.
Franchise and administrative fees increased by $60,000 each from the prior year primarily as a result of
increased rates and software subscriptions rose by $24,000. Capital contributions which includes ARPA
funding, impact fees and developer dedications, grew by more than $1.8 million resulting from project
expenses and recent development including Waterbend. Investment income declined due to falling
market rates and smaller balances available for investing. Including nonoperating and other revenues
and expenses, an increase of more than $7.7 million was realized in the W&WW fund for FY2025.
Texas Star Golf Course closed for approximately four months during the summer for renovations
including resurfacing the greens, leveling and expansion of various tee boxes, capping sand in bunkers,
and cart path and parking improvements. The course realized total revenues of close to $3.9 million and
expenses of $6.2 million leading to an operating loss of $2.4 million. Operating revenues which are
directly linked to the number of paid rounds dropped by $702,000. Operating expenses increased by
$500,000 including depreciation and amortization resulting predominantly from higher costs for salaries
15
including upgrading one position, benefits, and equipment replacement as well as adjustments for
pension and OPEB. Implementation of the new GASB standard for compensated absences increased
business -type activities expenses by around $150,000. Transfers in to cover operating costs during the
closure and to provide project funding totaled $3.5 million. Net position for the golf course rose by
$962,164 for FY2025.
The increase in net position of the drainage utility fund results largely from developer contribution of
capital assets. Operating revenues increased by $310,000 due in large part to the increase in the monthly
drainage fee of 25% and operating costs climbed by $83,000. The drainage utility fund recorded a gain
in net position of $1.2 million. Other recreation enterprises operating revenues increased by $123,000,
while operating expenses grew by $286,000. Salaries and related benefits rose by about $65,000 due to
the raise package mentioned previously. Other cost increases include instructor fees, baseball umpire
payments, athletic field maintenance, and costs associated with the Arbor Daze festival. User fees paid
to the equipment replacement fund increased slightly. The net result of the other recreational activity
was net income of $67,000.
Capital Asset and Debt Administration
Capital assets. The City's investment in capital assets for its governmental and business -type activities
as of September 30, 2025, totaled $321,530,020 (net of accumulated depreciation and amortization).
The investment in capital assets includes land, buildings, improvements, machinery and equipment,
infrastructure, intangible assets, and construction in progress. The net increase in the City's investment
in capital assets for the current fiscal year was $36,030,400 or about 13%. Major capital asset activity
that occurred during the current fiscal year included the following:
• Capital asset contributions totaled $16,493,898 during the fiscal year. Of this amount, $12,191,431
related to improvements within the Waterbend development and included streets and sidewalks,
water and wastewater infrastructure, drainage structures, and land. Community Development Block
Grant (CDBG) funding contributed $70,994 for wastewater line replacements. Additionally,
developer asset dedications totaled $1,125,551 and consisted of streets and sidewalks, water and
wastewater infrastructure, drainage structures, and land. ARPA capital grant funding for the current
year totaled more than $3.1 million.
• Capital asset additions for governmental activities include, but are not limited to, a fire truck; traffic
signal equipment upgrades; recreation and playground equipment; Lifepak defibrillators; public
safety radios; HVAC replacements; and drones supporting the Drone as a First Responder program.
Projects completed during the year included Fire Station #2; portions of the city-wide fiber optic
project; installation of playground shade canopies at Wilshire, J.A. Carr, and McCormick parks;
construction of the PATS North entryway sign; installation of synthetic turf at Fenway, Shea, and
Jacobs baseball fields; and the FY2025 street improvements project.
• Construction -in -progress related to general government activity of $25,894,626 at year-end primarily
consisted of the following projects: West Pipeline Road reconstruction ($5.7M), police and court
remodel ($14.7M), and animal shelter remodel ($5.3M).
• Capital asset additions for business -type activities include, but are not limited to, installation of a
split -rail concrete fence at PATS North; renovation of the greens and other enhancements at Texas
16
Star Golf Course; and FY2025 curb and gutter improvements. Water line replacements were
completed during the fiscal year at Midway Park 1st Addition, Oakwood Terrace, and along South
Main Street.
• Construction -in -progress related to business -type operations of $3,814,979 principally consists of
wastewater line replacements at Cedar Hills Estates South Phases I & II ($834K), Trailwood
Addition ($2.5M), and along South Main ($227K).
Capital Assets (Net of Accumulated Depreciation)
Amounts shown in 000s
Governmental
activities
Business -type
activities
Total
2025 2024 2025 2024 2025 2024
Land $ 47,603 $ 44,105 $ 5,719 $ 5,719 $ 53,322 $ 49,824
Buildings 46,845 39,730 3,840 4,061 50,685 43,791
Other improvements 17,579 17,636 7,273 7,132 24,852 24,768
M&E 19,150 15,278 778 908 19,928 16,186
Infrastructure 62,786 59,883 79,476 72,020 142,262 131,903
Right -to -use equipment 10 73 37 93 47 166
Right -to -use software 724 942 - 5 724 233
Construction in
Progress 25,895 13,171 3,815 4,744 29,710 17,915
Total $ 220,592 $ 190,818 $ 100,938 $ 94,682 $ 321,530 $ 284,786
Additional information on the City's capital assets can be found in Note 3 on pages 59-61 of this report.
Long-term debt. At fiscal year-end, the City's outstanding debt totaled $80,865,996. Of this amount,
$62,434,378 comprises debt backed by the full faith and credit of the government and $18,431,618
represents debt secured solely by specific revenue sources (i.e. revenue bonds).
Amounts shown in 000s
Governmental
activities
Business -type
activities
Total
2025 2024 2025 2024 2025 2024
GO Bonds $ - $ 685 $ - $ 1,705 $ - $ 2,390
COs 57,175 67,465 - 57,175 67,465
Premiums/discounts 2,900 3,391 (11) 45 2,889 3,436
Leases 10 73 37 93 47 166
Subscriptions 724 942 5 724 947
Tax notes 4,525 5,575 - 4,525 5,575
Revenue bonds 4,325 4,570 14,070 14,910 18,395 19,480
Deferred charges - (10) (139) - (149)
Totals $ 69,659 $ 82,691 $ 14,096 $ 16,619 $ 83,755 $ 99,310
17
Outstanding Debt
In fiscal year 2025, the City did not issue any new general bonded debt and no new bonded debt was
issued for the City's enterprise operations. One new governmental SBITA was implemented at a cost of
$121,954 during the year. The City's total debt decreased $15,007,966 or 15.7% during fiscal year
2025. This decrease was primarily attributable to scheduled principal payments and the early
redemption of a large portion of the Glade Parks Debt and the Texas Star Golf Course Debt.
The City's debt continues to be highly rated by both Moody's Investors Service ("Moody's") and
Standard & Poor's Ratings Services ("S&P"). Moody's maintains an Aa2 rating on the City's debt,
while S&P rates the City's general obligation debt and water and wastewater revenue debt at AA+.
Both agencies recognized the City's strong financial position, and specifically cited consistent budgetary
performance, effective financial management, and healthy reserves as a basis for reaching this
conclusion. Additionally, factors such as long-term financial and capital planning, along with positive
economic growth indicators, contributed to the high ratings and reinforced the City's stable fiscal
outlook and ability to meet debt service obligations. Additional information on the City's long-term
debt can be found in Note 4 on pages 61-68.
Economic Factors and Next Year's Budgets and Rates
In the FY2025-26 budget, General Fund revenues and transfers in are budgeted to increase 7%
compared to the FY2024-25 original budget. Property taxes account for approximately 42% of total
budgeted revenues, while sales taxes comprise approximately 31 %. Certified assessed taxable valuations
as of July 25, 2025 increased 0.1% over the prior year. The property tax rate increased from 44.670 to
47.64660 per $100 of taxable assessed valuation for FY2025-26.
Sales tax revenues are projected to increase by approximately $1.8 million over the FY2024-25 original
projections, while car rental tax receipts are expected to increase by $1.3 million.
Baseline General Fund expenditures, excluding capital programs, are projected to increase
approximately 6.7% compared to the FY2024-25 original budget. The proposed employee pay plan
includes step increases where applicable, a 3% baseline salary adjustment, and a one-time lump sum
performance payment averaging 2% for non -step employees. The City elected to use excess reserves to
fund capital needs.
For the Water and Wastewater Fund, the FY2025-26 budget continues the tiered rate structure for
residential and irrigation water volume billing. Under this structure, customers pay graduated rates based
on monthly consumption levels. Residential water volume rates range from $6.14 to $8.77 per thousand
gallons. Single-family residential customers will continue to receive a rebate of 75¢ per 1,000 gallons
for up to 15,000 gallons per month. A wastewater volume charge of $5.89 per thousand gallons applies
to all customer classes, with residential wastewater charges capped at 12,000 gallons per month.
Monthly base rates for residential water and wastewater service each increased by $1 compared to the
prior year.
Annual funding for pay-as-you-go capital expenses increased by $25,000, bringing the total to
$1,150,000. Planned capital items include water line replacement for Oakwood Terrace North Phases I
and II, Vine Street engineering, and continued funding associated with the 52nd year of the Community
Development Block Grant program.
18
The Texas Star Golf Course and Conference Centre remains a vibrant and valued community asset.
Known for its championship -level course nestled within the DFW Metroplex, the facility has earned
recognition as a premier municipal golf destination. It has been named among the "Top 10 Best Golf
Courses to Tee Off at in & Around Fort Worth, Texas," described by Golf Digest as a "Great public
course near DFW Airport," and ranked among the top 50 in "The Best Texas Golf Courses" by
texasgolf.com. Raven's Grille and the Conference Centre continue to receive strong community support
and positive reviews. The Conference Centre offers 7,000 square feet of divisible event space and hosts
business conferences, weddings, concerts, and other events.
During FY2024-25, the course was closed for several months to complete green replacement. The
improvements have significantly enhanced playing conditions, and the course has reopened in excellent
condition. The adopted FY2025-26 budget includes revenue projections of $6,179,205 and budgeted
operating expenses of $5,977,960.
Request for Information
The financial report is designed to provide citizens, customers, investors, and creditors with a general
overview of the City's finances. If you have questions about this report or need additional information,
contact the Finance Department, Attn: Janina Jewell, Director of Finance, at 201 North Ector Drive,
Euless, Texas 76039, call (817) 685-1626, or e-mail jjewell@eulesstx.gov.
19
CITY OF EULESS, TEXAS
GOVERNMENT -WIDE STATEMENT OF NET POSITION
SEPTEMBER 30, 2025
ASSETS
Deposits and investments
Receivables, net of allowances
Lease receivables
Internal balances
Inventories, at cost
Prepaid items
Restricted assets
Deposits and investments
Capital assets
Land and construction in progress
Other capital assets, net of
accumulated depreciation
Intangible right -to -use assets, net of
accumulated amortization
Total assets
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to pension
Deferred outflows related to OPEB
Total deferred outflows of resources
LIABILITIES
Accounts payable
Contracts payable
Accrued liabilities
Accrued interest payable
Unearned revenue
Money held in escrow
Noncurrent liabilities
Due within one year
Due in more than one year
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pension
Deferred inflows related to OPEB
Deferred inflows related to leases
Total deferred inflows of resources
NET POSITION
Net investment in capital assets
Restricted for
Debt service
Impact fees
Developer agreements
Court technology/building security
Juvenile cases
Cable PEG fees
Historical preservation
Opioid remediation
Unrestricted
Total net position
Governmental
Activities
$ 140,009,213
13,325,498
4,795,692
(7,237,450)
9,895
1,229,411
13,315,148
73,497,706
146,360,139
734,378
386,039,630
7,486,833
1,013,202
8,500,035
17,786,146
2,494,210
2,323,138
288,119
7,858,412
83,358,247
114,108,272
3,219,643
3,793,293
4,795,692
11,808,628
167,340,305
4,368,968
2,912,798
162,433
292,813
652,693
843
62,463
92,829,449
$ 268,622,765
Primary Government
Business -type
Activities
$ 31,384,774
5,289,743
279,366
7,237,450
295,083
36,675
5,192,951
9,533,524
91,367,655
36,618
150,653,839
1,432,043
196,096
1,628,139
2,788,448
364,547
46,709
947,115
2,497,950
1,412,363
16,665,765
24,722,897
619,041
735,036
279,366
1,633,443
86,841,468
1,311,479
3,881,472
33,891,219
$ 125,925,638
Total
$ 171,393,987
18,615,241
5,075,058
304,978
1,266,086
18,508,099
83,031,230
237,727,794
770,996
536,693,469
8,918,876
1,209,298
10,128,174
20,574,594
2,494,210
2,687,685
334,828
947,115
2,497,950
9,270,775
100,024,012
138,831,169
3,838,684
4,528,329
5,075,058
13,442,071
254,181,773
5,680,447
3,881,472
2,912,798
162,433
292,813
652,693
843
62,463
126,720,668
$ 394,548,403
The Notes to the Basic Financial Statements
are an integral part of these statements.
20
Program Activities
Primary government
Governmental activities
Culture and recreation
Development services
General and administrative
Highways and streets
Public safety
Interest
Total governmental activities
Business -type activities
Water and wastewater
Drainage utility
Golf course
Other recreation enterprises
Total business -type activities
Total primary government
CITY OF EULESS, TEXAS
GOVERNMENT -WIDE STATEMENT OF ACTIVITIES
YEAR ENDED SEPTEMBER 30, 2025
Expenses
Charges
for Services
Program
Revenues
Operating
Grants and
Contributions
Net (Expense) Revenue and
Changes in Net Position
Capital
Grants and Governmental
Contributions Activities
Primary Government
Business -
Type
Activities
Total
$ 9,713,145
1,886,805
29,657,656
5,037,137
39,199,884
2,732,355
88,226,982
33,065,992
1,678,417
6,100,845
2,461,108
43,306,362
$ 282,656 $ 954 $
6,333,849 -
797,603 5,574
134,381 -
4,631,736 540,677
12,180,225
33,758,452
1,255,830
3,530,639
2,281,292
40,826,213
547,205
7,248,688
174,449
$ (9,429,535) $
4,447,044
(28,854,479)
2,345,932
(33,853,022)
(2,732,355)
7,423,137 (68,076,415)
7,947,491
1,676,294
9,623,785
$ 131,533,344 $ 53,006,438 $ 547,205 $ 17,046,922 (68,076,415)
General Revenues
Taxes
Property taxes
Sales taxes
Car rental taxes
Mixed beverage taxes
Hotel/motel occupancy taxes
Gross receipts taxes
Investment income
Rents and royalties
Miscellaneous
Transfers
Total general revenues and transfers
Change in net position
NET POSITION, beginning of year
NET POSITION, end of year
The Notes to the Basic Financial Statements
are an integral part of these statements.
31,876,634
32,032,179
20,255,173
258,974
1,698,065
4,700,183
7,610,517
1,423,846
2,156,954
(1,882,072)
100,130,453
8,639,951
1,253,707
(2,570,206)
(179,816)
7,143,636
$ (9,429,535)
4,447,044
(28,854,479)
2,345,932
(33,853,022)
(2,732,355)
(68,076,415)
8,639,951
1,253,707
(2,570,206)
(179,816)
7,143,636
7,143,636 (60,932,779)
1,506,353
1,882,072
31,876,634
32,032,179
20,255,173
258,974
1,698,065
4,700,183
9,116,870
1,423,846
2,156,954
3,388,425 103, 518, 878
32,054,038
236,568,727
10,532,061
115,393,577
42,586,099
351,962,304
$ 268,622,765 $ 125,925,638
$ 394,548,403
21
CITY OF EULESS, TEXAS
BALANCE SHEET — GOVERNMENTAL FUNDS
SEPTEMBER 30, 2025
Debt Car
General Service Rental Tax
Fund Fund Fund
ASSETS
Deposits and investments $ 28,275,895 $ 2,780,127 $ 15,798,914
Receivables
Property taxes 424,486 106,653 -
Accounts receivable 1,755,299 155,846 -
Accrued interest receivable 189,573 - 83,342
Due from other governments 3,324,748 - 3,475,997
Lease receivable 734,991 - -
Prepaids and deposits 152,543 - -
Inventories, at cost 9,895 - -
Restricted deposits and investments - -
Total assets $ 34,867,430 $ 3,042,626 $ 19,358,253
LIABILITIES
Accounts payable
Contracts payable
Accrued liabilities
$ 2,389,149 $ 500 $ 12,229,845
1,226,697
Total liabilities 3,615,846 500 12,229,845
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - property taxes
Unavailable revenue - other
Deferred inflow related to leases
424,486 103,679
150,399 -
734,991 -
Total deferred inflows of resources 1,309,876
FUND BALANCES
103,679
Nonspendable
Prepaids, deposits, and inventories 162,438 - -
Restricted for
Debt service 2,938,447 -
Capital projects - -
Developer agreements - -
Court technology/building security 162,433 - -
Juvenile case management - -
Cable PEG fees - -
Historical preservation - -
Opioid remediation 62,463 - -
Assigned 210,748 - 7,128,408
Unassigned 29,343,626 - -
Total fund balances
29,941,708 2,938,447 7,128,408
Total liabilities, deferred inflows of resources,
and fund balances $ 34,867,430 $ 3,042,626 $ 19,358,253
The Notes to the Basic Financial Statements
are an integral part of these statements.
22
General
CIP
Fund
Police
CIP
Fund
$ 14,380,892 $
10,000
29,004
Non -major
Governmental
Funds
Total
Governmental
Funds
3,067,163 $ 37,012,658
13,257,123
142,756
610,091
80,079
2,087,317
4,060,701
68,741
58,025
$ 14,419,896 $ 16,324,286 $ 44,120.368
$ 1,006,176 $ 19,376 $ 1,775,325
2,494,210
1,006,176
2,513,586
13,413,720
10,762,913
3,047,787
13,413,720 13,810,700
214,705
1,990,030
$ 101,315,649
673,895
2,531,236
381,998
8,888,062
4,795,692
221,284
9,895
13,315,148
$ 132,132,859
$ 17,420,371
2,494,210
1,441,402
21,355,983
34,324
4,060,701
4,095,025
528,165
184,723
4,795,692
5,508,580
68,741 231,179
1,430,521 4,368,968
58,025 10,820,938
2,912,798 2,912,798
- 162,433
292,813 292,813
652,693 652,693
843 843
- 62,463
32,647,600 56,448,263
(28,721) 29,314,905
38,035,313 105,268,296
$ 14,419,896 $ 16,324,286 $ 44,120,368 $ 132,132,859
THE CITY OF
EULESS
CITY OF EULESS, TEXAS
RECONCILIATION OF THE GOVERNMENTAL FUNDS
BALANCE SHEET TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2025
Total fund balances - governmental funds $ 105,268,296
Amounts reported for governmental activities in the statement of net position are
different because:
Capital and intangible assets of governmental funds are not current financial
resources, therefore, assets are not reported in the governmental funds balance
sheet. Amount shown is net of accumulated depreciation and accumulated
amortization.
Interest payable on long-term debt does not require current financial resources,
therefore, interest payable is not reported as a liability in the governmental funds
balance sheet.
Internal service funds are used by management to charge the cost of certain
activities, such as insurance and equipment replacement, to individual funds.
The assets and liabilities of the internal service funds are net of the amount
allocated to business -type activities.
210,349,430
(288,119)
42,293,524
Revenues earned but not available within sixty days of the year end are not
recognized as revenue on the fund financial statements. 712,888
Funds comprising the net OPEB liability ($2,670,152), deferred inflows
($3,793,293), and deferred outflows $1,013,202 of resources related to OPEB
are not current financial resources, therefore, they are not reported in the
governmental funds balance sheet.
Funds comprising the net pension liability ($13,105,374), deferred inflows
($3,219,643), and deferred outflows $7,486,833 of resources related to the
pension are not current financial resources, therefore, they are not reported in
the governmental funds balance sheet.
Long-term liabilities, including bonds payable and compensated absences
(excluding those of internal service funds), are not due and payable in the
current period, therefore, they are not reported in the fund financial statements.
(5,450,243)
(8,838,184)
(75,424,827)
Net position of governmental activities $ 268,622,765
The Notes to the Basic Financial Statements
are an integral part of these statements.
25
CITY OF EULESS, TEXAS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES — GOVERNMENTAL FUNDS
YEAR ENDED SEPTEMBER 30, 2025
Debt Car
General Service Rental Tax
Fund Fund Fund
Revenues
Property tax $ 23,228,682 $ 5,556,456 $
Gross receipts tax 4,652,664 -
Mixed beverage tax 258,974 -
Sales tax 19,514,896 -
Car rental tax 20,255,173
Fines and fees 5,150,784
Licenses and permits 6,295,717
Investment income 1,325,689 391,728 947,391
Intergovernmental 540,676 -
Rents and royalties 720,727 481,327
Other revenues 484,646 -
Total revenues 62,173,455 6,429,511 21,202,564
Expenditures
Current
Culture and recreation 4,117,975
Development services 1,526,434
General and administrative 12,560,852 - 13,564,649
Highways and streets 1,852,663
Public safety 32,439,450
Debt service
Principal 171,724 12,214,017
Interest and fiscal charges 3,043 2,629,588
Capital outlay 2,244,243 - 151,816
Total expenditures 54,916,384 14,843,605 13,716,465
Excess (deficiency) of
revenues over (under) expenditures 7,257,071 (8,414,094) 7,486,099
Other financing sources (uses)
Issuance of subscription debt 121,954
Proceeds from sale of assets 11,350
Transfers in 3,916,314 8,597,988 750,000
Transfers out (4,674,055) (197,505) (12,184,740)
Total other financing sources (uses), net (624,437) 8,400,483 (11,434,740)
Net change in fund balances 6,632,634 (13,611) (3,948,641)
Fund balances, beginning of year 23,309,074 2,952,058 11,077,049
Fund balances, end of year $ 29,941,708 $ 2,938,447 $ 7,128,408
The Notes to the Basic Financial Statements
are an integral part of these statements.
26
General Police Non -major Total
CIP CIP Governmental Governmental
Fund Fund Funds Funds
$ - $ - $ 2,901,673 $ 31,686,811
- - 1,745,584 6,398,248
- - - 258,974
- - 12,517,283 32,032,179
- - - 20,255,173
- - - 5,150,784
- - - 6,295,717
697,915 990,459 1,587,683 5,940,865
- 810,336 1,351,012
45,240 - 84,567 1,331,861
- - 213,798 698,444
743,155 990,459 19,860,924 111,400,068
4,290,483 8,408,458
273,521 1,799,955
11,574 - 935,589 27,072,664
- - 3,850 1,856,513
- - 4,178,018 36,617,468
- - 275,837 12,661,578
- - 157,211 2,789,842
6,611,661 11,765,161 7,476,598 28,249,479
6,623,235 11,765,161 17,591,107 119,455,957
(5,880,080) (10,774,702) 2,269,817 (8,055,889)
- - 121,954
- - 11,350
3,347,505 - 13,021,659 29,633,466
- (16,025,342) (33,081,642)
3,347,505 - (3,003,683) (3,314,872)
(2,532,575) (10,774,702) (733,866) (11,370,761)
15,946,295 24,585,402 38,769,179 116,639,057
$ 13,413,720 $ 13,810,700 $ 38,035,313 $ 105,268,296
27
T H E C I T Y O F
EULESS
Change in net position of governmental activities
CITY OF EULESS, TEXAS
RECONCILIATION OF THE STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES OF
GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
YEAR ENDED SEPTEMBER 30, 2025
Net change in fund balances - total governmental funds $ (11,370,761)
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures. However, in the statement of activities
the cost of those assets is allocated over the estimated useful lives and reported as depreciation
expense. This is the amount of capital expenditures recorded in the current period.
Governmental funds report cash proceeds from the disposal of capital assets as revenues, while
only the net gain/loss on the transaction is reported in the statement of activities and capital
contributions are not reported in governmental funds. This is the amount of capital contributions
and disposals recorded in the current period.
28,234,126
7,079,248
Depreciation and amortization expense on capital and intangible assets is reported in the statement
of activities but does not require the use of current financial resources. Therefore, depreciation and
amortization expenses are not reported as expenditures in the governmental funds. (8,049,056)
The issuance of long-term debt provides current financial resources to governmental funds, but has
no effect on net position. (121,954)
The repayment of the principal of long-term debt consumes current financial resources of
governmental funds, but has no effect on net position. 12,672,513
Governmental funds report the effect of premiums, discounts, and deferred charges on refunding
when debt is first issued, whereas the amounts are deferred and amortized in the statement of
activities. 481,972
Current year changes in the long-term liabilities for compensated absences do not require the use of
current financial resources; therefore, they are not reported as expenditures in governmental funds. (3,361,382)
Current year changes in accrued interest payables do not require the use of current financial
resources; therefore, they are not reported as expenditures in governmental funds. 52,217
Changes in the net OPEB liability and related deferred inflows and outflows not recognized on the
fund financial statements under the modified accrual basis are recognized on the accrual basis in the
government -wide financial statements.
Changes in the net pension liability and related deferred inflows and outflows not recognized on the
fund financial statements under the modified accrual basis are recognized on the accrual basis in the
government -wide financial statements.
Internal service funds are used by management to charge the costs of certain activities, such as
insurance and equipment replacement, to individual funds. The net revenue of the internal service
funds is reported with governmental activities net of the amount allocated to business -type
activities.
1,818,099
12,021
4,519,926
Certain revenues in the government -wide statement of activities that do not provide current
financial resources are not reported as revenue in the governmental funds. 87,069
$ 32,054,038
The Notes to the Basic Financial Statements
are an integral part of these statements.
29
CITY OF EULESS, TEXAS
STATEMENT OF NET POSITION - PROPRIETARY FUNDS
SEPTEMBER 30, 2025
Business -Type Activities - Governmental
Enterprise Funds Activities -
Other Total Internal
Water and Drainage Golf Recreation Enterprise Service
ASSETS Wastewater Utility Course Enterprises Funds Funds
Current assets
Deposits and investments $ 24,831,327 $ 1,340,751 $ 2,416,058 $ 2,796,638 $ 31,384,774 $ 38,693,564
Accounts receivable and unbilled revenue
less allowance for uncollectibles of
$26,159 for water and wastewater and
$363 for drainage utility 4,918,384 149,548 94,349 20,478 5,182,759 586,070
Accrued interest receivable 106,984 - - - 106,984 264,237
Lease receivable - - 39,386 39,386 -
Prepaids and deposits 26,244 10,431 - 36,675 1,008,127
Inventory 122,955 149,173 22,955 295,083 -
Total unrestricted current assets
Restricted deposits and investments
W&WW impact fees
Revenue bond reserve for debt service
Total restricted assets
Total current assets
30,005,894 1,490,299 2,670,011 2,879,457 37,045,661 40,551,998
3,881,472 3,881,472
1,311,479 1,311,479
5,192,951 - 5,192,951
35,198,845 1,490,299 2,670,011 2,879,457 42,238,612 40,551,998
Non -current assets
Lease receivable - 239,980 239,980
Property, plant, and equipment in service, at cost
Land 3,676,667 559,826 897,520 584,532 5,718,545 -
Building 3,324,896 3,621,666 488,275 7,434,837 -
Equipment 1,192,544 114,380 558,062 1,662,732 3,527,718 24,245,095
Improvements 1,097,773 1,346,583 9,370,315 10,089,466 21,904,137 -
Construction in progress 3,814,979 - 3,814,979
Utility system 122,102,351 34,863,695 - 156,966,046 -
Total property, plant, and equipment in service
Less accumulated depreciation
135,209,210 36,884,484 14,447,563 12,825,005 199,366,262 24,245,095
59,605,299 20,633,719 10,011,994 8,214,071 98,465,083 14,002,302
Net property, plant, and equipment in service 75,603,911 16,250,765 4,435,569 4,610,934 100,901,179 10,242,793
Intangible assets
Right -to -use equipment 24,238 157,878 45,014 227,130
Right -to -use software 14,233 - - 14,233
Total intangible assets
Less accumulated amortization
38,471 157,878 45,014 241,363
37,492 124,058 43,195 204,745
Net intangible assets 979 33,820 1,819 36,618
Total non -current assets 75,604,890 16,250,765 4,469,389 4,852,733 101,177,777 10,242,793
Total assets 110,803,735 17,741,064 7,139,400 7,732,190 143,416,389 50,794,791
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to pension 1,066,827 119,909 209,638 35,669 1,432,043
Deferred outflows related to OPEB 144,096 17,120 30,043 4,837 196,096
Total deferred outflows of resources
$ 1,210,923 $ 137,029 $ 239,681 $ 40,506 $ 1,628,139 $
The Notes to the Basic Financial Statements
are an integral part of these statements.
30
CITY OF EULESS, TEXAS
STATEMENT OF NET POSITION - PROPRIETARY FUNDS - CONTINUED
SEPTEMBER 30, 2025
LIABILITIES
Current liabilities
Payable from current assets
Accounts payable
Accrued salaries and wages
Current portion of bonds payable
Current portion of compensated absences
Current portion of lease liability
Accrued insurance claims
Unearned revenue
Accrued interest
Total current liabilities
Non -current liabilities
Customer and escrow deposits
Net pension liability
Net OPEB liability
Bonds payable
Compensated absences
Total non -current liabilities
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to pensions
Deferred inflows related to OPEB
Deferred inflows related to leases
Total deferred inflows of resources
NET POSITION
Net investment in capital assets
Restricted for
Impact fees
Debt service
Unrestricted
Total net position
Business -Type Activities -
Enterprise Funds
Water and
Wastewater
$ 2,522,926
199,904
845,000
361,748
979
873,636
46,709
Drainage
Utility
$ 54,607
25,733
38,284
Golf
Course
Other
Recreation
Enterprises
Total
Enterprise
Funds
$ 129,969 $ 80,946 $
117,130 21,780
112,707 18,006
33,820 1,819
73,479
4,850,902 118,624 467,105
2,377,623 120,327
1,929,055 183,359 233,487
343,833 32,069 66,848
13,214,711 - -
403,308 49,647 120,756
18,268,530 265,075 541,418
23,119,432 383,699 1,008,523
415,470
539,973
955,443
37,881
63,976
101,857
150,337
112,974
263,311
122,551
2,788,448
364,547
845,000
530,745
36,618
947,115
46,709
5,559,182
2,497,950
56,699 2,402,600
12,502 455,252
13,214,711
19,491 593,202
88,692 19,163,715
211,243 24,722,897
15,353
18,113
279,366
312,832
619,041
735,036
279,366
1,633,443
Governmental
Activities -
Internal
Service
Funds
$ 365,775
11,736
7,631
870,000
1,255,142
8,675
8,675
1,263,817
61,544,200 16,250,765 4,435,569 4,610,934 86,841,468 10,242,793
3,881,472 3,881,472 -
1,311,479 1,311,479
21,202,632 1,141,772 1,671,678 2,637,687 26,653,769 39,288,181
$ 87,939,783 $ 17,392,537 $ 6,107,247 $ 7,248,621 118,688,188 $ 49,530,974
Reconciliation to govei,n lent -wide statement of net position
Adjustment to reflect the consolidation of internal
service funds' activities related to enterprise funds
Net position of business -type activities
7,237,450
$ 125,925,638
The Notes to the Basic Financial Statements
are an integral part of these statements.
31
CITY OF EULESS, TEXAS
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION -
PROPRIETARY FUNDS
YEAR ENDED SEPTEMBER 30, 2025
Business -Type Activities - Governmental
Enterprise Funds Activities -
Other Total Internal
Water and Drainage Golf Recreation Enterprise Service
Wastewater Utility Course Enterprises Funds Funds
Operating revenues
Water service $ 18,900,713 $ $ - $ - $ 18,900,713 $ -
Reclaimed water service 789,249 - - 789,249 -
Wastewater service 12,471,285 - - 12,471,285 -
Drainage fees - 1,255,830 - - 1,255,830 -
Recreation fees - - 706,315 706,315 -
Insurance premiums - - - - 8,213,450
Service fees and miscellaneous 1,597,205 3,856,165 1,574,977 7,028,347 6,323,072
Total operating revenues 33,758,452 1,255,830 3,856,165 2,281,292 41,151,739 14,536,522
Operating expenses
General and administrative 615,374 615,374 2,978,273
Water production 11,490,753 11,490,753 -
Water distribution 1,846,484 1,846,484
Utility engineering 535,914 535,914
Wastewater collection and treatment 7,425,014 - - 7,425,014 -
Nondepartmental 5,702,384 - - 5,702,384 -
Geographic information systems 786,120 - - 786,120 -
Service center 1,499,323 - - 1,499,323 -
Drainage - 838,986 - - 838,986
Recreation classes - 544,378 544,378
Golf course 2,404,485 - 2,404,485
Pro shop 432,168 - 432,168
Food and beverage - 1,619,615 - 1,619,615 -
Conference center 967,028 967,028
Cart operations - 273,776 - 273,776 -
Parks at Texas Star - - 1,295,492 1,295,492 -
Arbor Daze - - 201,608 201,608 -
Insurance costs - - - - 8,364,028
Depreciation 2,804,938 838,965 402,840 457,403 4,504,146 2,266,774
Amortization 11,888 122,094 10,879 144,861 -
Total operating expenses 32,718,192 1,677,951 6,222,006 2,509,760 43,127,909 13,609,075
Operatingincome(loss) 1,040,260 (422,121) (2,365,841) (228,468) (1,976,170) 927,447
The Notes to the Basic Financial Statements
are an integral part of these statements.
32
CITY OF EULESS, TEXAS
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION -
PROPRIETARY FUNDS - CONTINUED
YEAR ENDED SEPTEMBER 30, 2025
Business -Type Activities - Governmental
Enterprise Funds Activities -
Other Total Internal
Water and Drainage Golf Recreation Enterprise Service
Wastewater Utility Course Enterprises Funds Funds
Nonoperating revenues (expenses)
Gain (loss) on sale of capital assets $ - $ - $ (325,526) $ $ (325,526) $ 443,691
Investment income 1,146,285 49,957 197,948 112,163 1,506,353 1,669,654
Interest expense (234,572) (30,810) (41) (265,423) -
Total nonoperatingrevenues, net 911,713 49,957 (158,388) 112,122 915,404 2,113,345
Income (loss) before contributions
and transfers 1,951,973 (372,164) (2,524,229) (116,346) (1,060,766) 3,040,792
Capital contributions 7,947,491 1,676,294 - 9,623,785 -
Transfers in - - 3,486,393 183,357 3,669,750 2,016,104
Transfers out (2,175,708) (61,970) - (2,237,678) -
Net income (loss) 7,723,756 1,242,160 962,164 67,011 9,995,091 5,056,896
Total net position - beginning 80,216,027 16,150,377 5,145,083 7,181,610 108,693,097 44,474,078
Total net position- ending $ 87,939,783 $ 17,392,537 $ 6,107,247 $ 7,248,621 $ 118,688,188 $ 49,530,974
Reconciliation to government -wide statement of net position
Adjustment to reflect the consolidation of internal
service funds' activities related to enterprise funds 536,970
Change in net position of business -type activities $ 10,532,061
The Notes to the Basic Financial Statements
are an integral part of these statements.
33
CITY OF EULESS, TEXAS
STATEMENT OF CASH FLOWS - PROPRIETARY FUNDS
YEAR ENDED SEPTEMBER 30, 2025
Business -Type Activities -
Enterprise Funds
Governmental
Activities -
Other Total Internal
Water and Drainage Golf Recreation Enterprise Service
Wastewater Utility Course Enterprises Funds Funds
OPERATING ACTIVITIES
Cash received from customers $ 30,949,862 $ 1,216,019 $ 3,939,187 $ 2,308,116 $ 38,413,184 $ 14,659,172
Cash payments to suppliers for goods and services (26,610,197) (306,405) (3,070,439) (1,546,142) (31,533,183) (11,526,514)
Cash payments to employees for services (4,257,431) (440,275) (2,526,617) (496,539) (7,720,862) (186,073)
Net cash provided by (used in)
operating activities 82,234 469,339 (1,657,869) 265,435 (840,861) 2,946,585
NONCAPITAL FINANCING ACTIVITIES
Transfer in
Transfer out
Net cash provided by (used in)
noncapital financing activities
3,486,393 183,357 3,669,750 2,016,104
(2,175,708) (61,970) - (2,237,678)
(2,175,708) (61,970) 3,486,393 183,357 1,432,072 2,016,104
CAPITAL AND RELATED FINANCING ACTIVITIES
Impact fees 343,127 - 343,127
Acquisition/construction of capital/intangible assets (3,539,689) (304,839) (1,010,429) (117,077) (4,972,034) (4,812,546)
Interest paid on capital debt (236,542) (36,143) (41) (272,726)
Principal paid on capital debt (840,000) (1,705,000) - (2,545,000)
Principal paid on leases (5,858) (39,657) (10,879) (56,394)
Principal paid on subscriptions (4,743) - (4,743)
Capital contributions - cash and cash equivalents 3,105,922 3,105,922
Proceeds from sale of capital assets - - 479,338
Net cash used in capital
and related financing activities (1,177,783) (304,839) (2,791,229) (127,997) (4,401,848) (4,333,208)
INVESTING ACTIVITIES
Interest received on investments
Net cash provided by investing activities
Net change in cash and cash equivalents
Cash and cash equivalents, beginning of year
1,168,545 49,957 197,948 112,163 1,528,613 1,710,607
1,168,545 49,957 197,948 112,163 1,528,613 1,710,607
(2,102,712) 152,487 (764,757) 432,958 (2,282,024) 2,340,088
32,126,990 1,188,264 3,180,815 2,363,680 38,859,749 36,353,476
Cash and cash equivalents, end of year $ 30,024,278 $ 1,340,751 $ 2,416,058 $ 2,796,638 $ 36,577,725 $ 38,693,564
The Notes to the Basic Financial Statements
are an integral part of these statements.
34
CITY OF EULESS, TEXAS
STATEMENT OF CASH FLOWS - PROPRIETARY FUNDS - CONTINUED
YEAR ENDED SEPTEMBER 30, 2025
Business -Type Activities - Governmental
Enterprise Funds Activities -
Other Total Internal
Water and Drainage Golf Recreation Enterprise Service
Wastewater Utility Course Enterprises Funds Funds
Reconciliation of operating income (loss)
to net cash provided by (used in)
operating activities
Operating income (loss) $ 1,040,260 $ (422,121) $ (2,365,841) $ (228,468) $ (1,976,170) S 927,447
Adjustments to reconcile operating
income (loss) to net cash provided by (used in)
operating activities:
Depreciation and amortization 2,816,826 838,965 524,934 468,282 4,649,007 2,266,774
Changes in assets and liabilities:
Accounts receivable and
unbilledrevenue 227,207 (39,811) 91,357 26,824 305,577 122,650
Prepaids and deposits (6,928) - 11,214 4,286 (229,056)
Inventory 5,765 - (25,857) 1,529 (18,563) Net OPEB liability (216,082) (23,805) (49,442) (7,324) (296,653)
Net pension liability (733,808) (80,844) (167,905) (24,875) (1,007,432)
Deferred outflows 579,103 73,098 51,464 17,737 721,402
Deferred inflows 131,798 4,045 91,056 (33,120) 193,779 -
Accounts payable (1,210,068) 54,607 30,468 19,034 (1,105,959) (393,192)
Accrued salaries and wages 20,692 5,388 7,456 2,150 35,686 14,963
Accrued insurance claims - - - 236,999
Compensated absences 463,266 59,817 151,562 23,666 698,311 -
Customer and escrow
deposits 70,125 (3,008) 67,117
Unearned revenue (3,105,922) (5,327) (3,111,249)
Net cash provided by (used in)
operating activities $ 82,234 $ 469,339 $ (1,657,869) $ 265.435 S (840,861) $ 2,946,585
Noncash financing activities
Developer contributed assets $ 7,604,364 $ 1,676,294 $ - $ - $ 9,280,658 $
Reconciliation of cash to balance sheet:
Cash -current $ 24,831,327 $ 1,340,751 $ 2,416,058 $ 2,796,638 $ 31,384,774 $ 38,693,564
Cash -restricted 5,192,951 - - - 5,192,951
Cash and cash equivalents $ 30,024,278 $ 1,340,751 $ 2,416,058 $ 2,796,638 $ 36,577,725 $ 38,693,564
The Notes to the Basic Financial Statements
are an integral part of these statements.
35
CITY OF EULESS, TEXAS
STATEMENT OF NET POSITION — FIDUCIARY FUNDS
SEPTEMBER 30, 2025
ASSETS
Investments at fair value
Investment pool
Money market account
Fixed income funds
Equity funds
Total assets
Star Center Escrow OPEB
Custodial Fund Trust Fund
$ 1,436,017 $
391,655
6,477,898
10,460,297
1,436,017 17,329,850
LIABILITIES
Refunds payable 15,470
Total liabilities 15,470
NET POSITION
Restricted for
Debt service
Other post -employment benefits
1,420,547
- 17,329,850
Total net position $ 1,420,547 $ 17,329,850
The Notes to the Basic Financial Statements
are an integral part of these statements.
36
CITY OF EULESS, TEXAS
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
YEAR ENDED SEPTEMBER 30, 2025
Star Center Escrow OPEB
Custodial Fund Trust Fund
ADDITIONS
Employer contributions $ - $ 2,019,008
Other contributions - 300,233
Investment income
Investment income 63,210 1,548,284
Less: investment expense - (85,655)
Net investment income
Total additions
63,210 1,462,629
63,210 3,781,870
DEDUCTIONS
Payments to beneficiaries 63,210
Insurance claims - 1,309,524
Administrative expenses - 224,115
Total deductions 63,210 1,533,639
Change in net position - 2,248,231
Net position - beginning of year 1,420,547 15,081,619
Net position - ending $ 1,420,547 $ 17,329,850
The Notes to the Basic Financial Statements
are an integral part of these statements.
37
T H E C I T Y O F
EULESS
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
General Statement
The City of Euless (the City) was incorporated on February 24, 1953. The City operates under a
Council -Manager form of government and provides the following services as authorized by its
charter: general government, police and fire protection, emergency ambulance service, road and
traffic signal maintenance, water and wastewater operations, drainage system, parks and
recreational facilities, courts, library services, planning land use, building inspection, and traffic
control.
The accounting and reporting policies of the City relating to the funds included in the
accompanying basic financial statements conform to accounting principles generally accepted in
the United States of America (GAAP) applicable to state and local governments. GAAP for local
governments include those principles prescribed by the Governmental Accounting Standards
Board (GASB) and the American Institute of Certified Public Accountants in the publication
entitled Audits of State and Local Governmental Units.
The more significant accounting policies of the City are described as follows:
Financial Reporting Entity
As required by GAAP, these basic financial statements present the primary government and its
component units, entities for which the government is considered to be financially accountable.
The blended component units, although legally separate entities, are, in substance, part of the
primary government's operations. As such, data from these units is combined with data of the
primary government.
Blended Component Units
The City includes four component units in the financial statements. The Euless Development
Corporation (Corporation) is used to account for the accumulation of half -cent sales tax
proceeds dedicated to building and improving City parks and facilities, enhancing library
services, and stimulating economic development activities within the City. The Euless Crime
Control and Prevention District (District) is used to account for the accumulation and use of
quarter -cent sales tax proceeds dedicated for crime reduction programs. The Corporation and
the District are reported as special revenue funds of the primary government. The Boards of
Directors of both component units are substantively the same as the City Council. There are
seven directors on each board, four of whom are council members which constitutes a voting
majority of the City Council. The remaining three board members are residents of the City.
Upon dissolution of the Corporation or the District, the entity's assets will be distributed to
the City. Each component unit provides all of its services to the City. The financial
statements for the units were obtained from the respective Boards of Directors. Financial
information for both entities may be obtained from the City.
39
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Financial Reporting Entity — Continued
Blended Component Units — Continued
The Tax Increment Reinvestment Zone #3 — Glade Parks (TIRZ #3) is also a blended
component unit of the City and is reflected in the financial statements as a special revenue
fund. TIRZ #3 was created to stimulate development and enhance the value of taxable real
property within the boundaries of the zone. Tarrant County and Tarrant County College
District are taxing entities participating in TIRZ #3. The Board of Directors of TIRZ #3 is
substantially the same as the City Council and management of the City has operational
responsibility for TIRZ #3. The Board is comprised of seven directors, four of whom are
council members which constitutes a voting majority of the Board. The remaining three
board members are representatives selected by the other participating taxing entities and the
Tarrant County Hospital District Financial information for TIRZ #3 may be obtained from
the City.
The Tax Increment Reinvestment Zone #4 — Midtown (TIRZ #4) is also a blended
component unit of the City and is reflected in the financial statements as a special revenue
fund. The Midtown CIP Fund is also part of TIRZ#4. TIRZ #4 was created to stimulate
development and enhance the value of taxable real property within the boundaries of the
zone. Tarrant County, Tarrant County Hospital District, and Tarrant County College District
are taxing entities participating in TIRZ #4. The Board of Directors of TIRZ #4 is
substantially the same as the City Council and management of the City has operational
responsibility for TIRZ #4. The Board is comprised of seven directors, four of whom are
council members which constitutes a voting majority of the Board. The remaining three
board members are representatives selected by the other participating taxing entities.
Financial information for TIRZ #4 may be obtained from the City.
Basis of Presentation
The government -wide financial statements (the statement of net position and the statement of
activities) report information on all of the activities of the City, except fiduciary funds. The
effect of interfund activity, with the exception of interfund services provided or used, within the
governmental and business -type activities columns, has been removed from these statements.
Governmental activities, which normally are supported by taxes and intergovernmental revenues,
are reported separately from business -type activities, which rely to a significant extent on user
fees and charges for support.
The statement of activities demonstrates the degree to which the direct expenses of a given
program are offset by program revenues. Direct expenses are those that are clearly identifiable
with a specific program. Program revenues include 1) charges to customers or applicants who
purchase, use, or directly benefit from goods, services, or privileges provided by a given program
and 2) operating or capital grants and contributions that are restricted to meeting the operational
or capital requirements of a particular program. Taxes and other items not properly included
among program revenues are reported instead as general revenues.
40
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Basis of Presentation — Continued
Fund Financial Statements
The City segregates transactions related to certain functions or activities in separate funds in
order to aid financial management and to demonstrate compliance with various legal
provisions. Separate statements are presented for governmental funds, proprietary funds, and
fiduciary funds, even though the latter are excluded from the government -wide financial
statements. These statements present each major fund as a separate column on the fund
financial statements; all non -major funds are aggregated and presented in a single column.
Governmental funds are those funds through which most governmental functions are
typically financed. The measurement focus of governmental funds is on the sources, uses,
and balances of current financial resources. The City has presented the following major
governmental funds:
General Fund
The General Fund is the main operating fund of the City. This fund is used to account for
all financial resources not accounted for in other funds. All general tax revenues and
other receipts that are not restricted by law or contractual agreement to some other fund
are accounted for in this fund. General operating expenditures, fixed charges, and capital
improvement costs that are not paid through other funds are paid from the General Fund.
Debt Service Fund
The Debt Service Fund is used to account for the accumulation of financial resources for
the payment of principal, interest, and related costs on general long-term debt paid
primarily from property taxes levied by the City. The fund balance of the Debt Service
Fund is restricted for debt service expenditures.
Car Rental Tax Fund
The Car Rental Tax Fund is used to account for revenues received from the collection of
short-term motor vehicle rental taxes and the expenditures thereof. Per contractual
agreement, revenues are shared with the cities of Dallas and Fort Worth. The City's
portion of the revenue is used primarily for debt reduction, one-time capital projects, and
to maintain the property tax rate.
General CIP Fund
The General CIP Fund is used to account for various general construction projects
within the City.
Police CIP Fund
The Police CIP Fund is used to account for various construction projects related to the
City Police and Courts building renovation primarily funded with Tax and Waterworks
and Sewer System Revenue Certificates of Obligation, Series 2023 issuance.
41
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Basis of Presentation — Continued
Proprietary funds are accounted for using the economic resources measurement focus and the
accrual basis of accounting. The accounting objectives are determinations of net income,
financial position, and cash flow. All assets and liabilities are included on the statement of net
position. The City has presented the following proprietary funds:
Water and Wastewater Fund
Water and Wastewater Fund is used to account for the acquisition, operation and
maintenance of a municipal water and wastewater utility, supported primarily by user
charges.
Drainage Utility Fund
Drainage Utility Fund is used to account for the acquisition, operation, and maintenance
of a municipal drainage utility, supported primarily by user charges.
Golf Course Fund
Golf Course Fund is used to account for operation and maintenance of the City's golf
course, supported primarily by user charges.
Other Recreation Enterprises Fund
Other Recreation Enterprises Fund is used to account for operations and maintenance of
recreation programming, Arbor Daze, and the Parks at Texas Star, supported primarily by
user charges.
Additionally, the City reports the Internal Service Funds which are used to account for
equipment replacement, risk management, and self -funded health insurance coverage and
disability insurance provided to employees of the City.
Proprietary funds distinguish operating revenues and expenses from non -operating items.
Operating revenues and expenses generally result from providing services and producing and
delivering goods in connection with a proprietary fund's principal ongoing operations. All
revenues and expenses not meeting this definition are reported as non -operating revenues and
expenses. Operating expenses for the proprietary funds include the cost of personnel and
contractual services, supplies, and depreciation on capital assets.
The City also reports two fiduciary funds in the financial statements. The Stars Center Escrow
Custodial Fund is a custodial fund that accounts for investments that will be held on behalf of the
Dallas Stars until the debt issued for the specific purpose of purchasing the Stars Center is fully
repaid. Custodial funds account for resources held for others in a custodial capacity. This fund
type is used to account for assets held by the City as an agent.
42
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Basis of Presentation — Continued
The OPEB Trust Fund accounts for the accumulation and use of resources for benefit payments
related to post -employment health care.
The fiduciary funds are reported using the economic resources measurement focus and the
accrual basis of accounting. Reporting is oriented toward providing accountability for the
sources, uses, and balances of resources held for others; therefore, the additions and deductions
in fiduciary balances are reported. With this measurement focus, assets and liabilities which are
due and payable associated with the operation of these funds are included on the funds'
statements of net position. The funds' equity is segregated into restricted net position and
unrestricted net position, if applicable.
Measurement Focus and Basis of Accounting
Measurement focus refers to what is being measured; basis of accounting refers to when
revenues and expenditures/expenses are recognized in the accounts and reported in the financial
statements. Basis of accounting relates to the timing of the measurement made, regardless of the
measurement focus applied.
The government -wide, proprietary fund and fiduciary financial statements are reported using the
economic resources measurement focus and the accrual basis of accounting. The economic
resources measurement focus means all assets, deferred inflows/outflows of resources, and
liabilities (whether current or noncurrent) are included on the statement of net position and the
operating statements present increases and decreases in total net position. Under the accrual basis
of accounting, revenues are recognized when earned, including unbilled water, wastewater, and
drainage services which are accrued. Expenses are recognized at the time the liability is incurred.
Governmental fund financial statements are reported using the current financial resources
measurement focus and are accounted for using the modified accrual basis of accounting. Under
the modified accrual basis of accounting, revenues are recognized when susceptible to accrual,
i.e., become both measurable and available. "Measurable" means the amount of the transaction
can be determined and "available" means collectible within the current period or soon enough
thereafter to be used to pay liabilities of the current period. The City considers property taxes and
other revenues as available if they are collected within 60 days of year end. Expenditures are
recorded when the related fund liability is incurred. However, debt service expenditures, as well
as expenditures related to compensated absences and other long-term liabilities are recorded only
when payment is due.
43
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Measurement Focus and Basis of Accounting — Continued
The significant revenues susceptible to accrual are property taxes, franchise fees, licenses,
charges for service, interest income, and intergovernmental revenues. Sales taxes and short-term
motor vehicle rental taxes collected and held by the state at year end on behalf of the City are
also recognized as revenue. All other governmental fund revenues are recognized when received.
Any residual balances outstanding between the governmental activities and business -type
activities are reported in the government -wide financial statements as "internal balances."
Deposits and Investments
Substantially all operating cash, deposits, and short-term investments are maintained in
consolidated cash accounts or individual fund investment accounts. Related interest income is
allocated to the various funds based primarily on ownership by each fund of specific
investments. Cash equivalents consist of highly -liquid investments with original maturities of
three months or less.
For purposes of the statement of cash flows, the City considers all highly liquid investments to
be cash equivalents.
Investments in U.S. Treasury and agency obligations with maturities of one year or less when
purchased are reported at amortized cost. All other investments are reported at fair value.
State statutes authorize the City to invest in obligations of the U.S. Government or its agencies;
obligations of the State of Texas or its agencies; and certain other obligations, repurchase
agreements, money market mutual funds, and certificates of deposits within established criterion.
Property Taxes
Property taxes are levied for appropriation for the fiscal year beginning on October 1, are due
October 1, attach as an enforceable lien on property as of January 1, and become delinquent on
February 1. Property taxes are accrued based on the period for which they are levied and
available. Delinquent taxes estimated not to be available are treated as deferred inflows of
resources. Property taxes for cities, including those applicable to debt service, are limited by the
Texas Constitution to $2.50 per $100 of assessed valuation. The City's current tax rate is $0.4467
per $100 of assessed valuation ($0.4575 per $100 last year) and assessed valuation is
approximately 100% of estimated value.
Inventories
Inventories, which are recognized as expenditures/expenses as consumed, are stated at cost
(first -in, first -out method) for the General Fund, Enterprise Funds and Internal Service funds.
44
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Inventories — Continued
Inventories consist primarily of expendable supplies for the General Fund and Internal Service
funds and merchandise for resale for the Enterprise Funds.
Prepaid Items
Prepaid balances are for payments made by the City in the current year to provide services
occurring in the subsequent fiscal year, and are recognized as expenditures utilizing the
consumption method.
Transactions Between Funds
Interfund services provided and used are accounted for as revenues and expenditures or
expenses. Transactions that constitute reimbursements to a fund for expenditures or expenses
initially made from it that are properly applicable to another fund, are recorded as expenditures
or expenses in the reimbursing fund and as a reduction of expenditures or expenses in the fund
reimbursed. All other interfund transactions are recorded as transfers.
Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets, are reported in
the applicable governmental or business -type activities columns in the government -wide
financial statements and in the fund financial statements for proprietary funds. All capital assets
are recorded at historical cost or estimated historical cost if actual historical cost is not available.
Donated assets are recorded at acquisition value on the date donated. Repairs and maintenance
are recorded as expenses. Renewals and betterments are capitalized.
Capitalized assets have an original cost of $5,000 or more and over one year of useful life.
Depreciation has been calculated on each class of depreciable property using the straight-line
method. Estimated useful lives are as follows:
Buildings 33 1/3 years
Water and wastewater system 33 1/3 years
Storm drainage system 33 1/3 years
Infrastructure 7 - 40 years
Machinery and equipment 5 - 15 years
Improvements 25 years
Right -to -use assets 5 - 15 years
45
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Leases - Lessee
The City is a lessee for noncancellable leases of property and equipment. The City recognizes a
lease liability, reported with long-term debt, and right -to -use lease asset (lease asset), reported
with other capital assets in the government -wide and proprietary fund financial statements. The
City recognizes lease liabilities with an initial, individual value of $5,000 or more.
At the commencement of a lease, the City initially measures the lease liability at the present
value of payments expected to be made during the lease term. Subsequently, the lease liability is
reduced by the principal portion of lease payments made. The lease asset is initially measured as
the initial amount of the lease liability, adjusted for lease payments made at or before the lease
commencement date, plus certain initial direct costs. Subsequently, the lease asset is amortized
on a straight-line basis over the shorter of the lease term or its useful life.
Key estimates and judgments related to leases include how the City determines (1) the discount
rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease
payments.
• The City uses the interest charged by the lessor as the discount rate. When no interest rate
is provided by the lessor, the City generally uses its estimated incremental borrowing rate
as the discount rate for leases.
• The lease term includes the noncancellable period of the lease.
• Lease payments included in the measurement of the lease liability are composed of fixed
payments, variable payments fixed in substance or that depend on an index or a rate,
purchase option price that the City is reasonably certain to exercise, lease incentives
receivable from the lessor, and any other payments that are reasonably certain of being
required based on an assessment of all relevant factors.
The City monitors changes in circumstances that would require a remeasurement of its leases and
will remeasure the lease asset and liability if certain changes occur that are expected to
significantly affect the amount of the lease liability.
Subscription -Based Information Technology Arrangements (SBITAs)
The City has noncancellable contracts with SBITA vendors for the right -to -use information
technology (IT) software, alone or in combination with tangible capital assets (the underlying IT
assets). The City recognizes a subscription liability, reported with long-term debt, and a
right -to -use subscription asset (an intangible asset), reported with other capital assets, in the
government -wide and proprietary fund financial statements. The City recognizes subscription
liabilities with an initial, individual value of $25,000 or more.
46
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Subscription -Based Information Technology Arrangements (SBITAs) - Continued
At the commencement of a SBITA, the City initially measures the subscription liability at the
present value of payments expected to be made during the subscription term. Subsequently, the
subscription liability is reduced by the principal portion of SBITA payments made. The
subscription asset is initially measured as the initial amount of the subscription liability, adjusted
for SBITA payments made at or before the SBITA commencement date, plus certain initial
implementation costs. Subsequently, the subscription asset is amortized on a straight-line basis
over the shorter of the subscription term or the useful life of the underlying IT assets.
Key estimates and judgments related to SBITAs include how the City determines (1) the
discount rate it uses to discount the expected subscription payments to present value,
(2) subscription term, and (3) subscription payments.
• The City uses the interest rate charged by the SBITA vendor as the discount rate. When no
interest rate is provided by the vendor, the City generally uses its estimated incremental
borrowing rate as the discount rate for SBITAs.
• The subscription term includes the noncancellable period of the SBITA.
• Subscription payments included in the measurement of the subscription liability are
composed of fixed payments, variable payments fixed in substance or that depend on an
index or a rate, termination penalties if the City is reasonably certain to exercise such
options, subscription contract incentives receivable from the SBITA vendor, and any other
payments that are reasonably certain of being required based on an assessment of all
relevant factors.
The City monitors changes in circumstances that would require a remeasurement of its SBITAs
and will remeasure the subscription asset and liability if certain changes occur that are expected
to significantly affect the amount of the subscription liability.
Compensated Absences
Employees may accumulate a maximum of two times their annual vacation accrual. The City's
policy is to pay the employee accumulated vacation upon termination. The City does not pay
employees for accumulated sick leave upon termination. The short-term portion of vacation pay
and sick leave accrued in the proprietary fund financial statements is reported as short-term
compensated absences (a current liability). The long-term component is reflected in non -current
liabilities as compensated absences. Compensated absences are recorded in governmental funds
as they mature (i.e., as taken).
GASB Statement No. 101, Compensated Absences, was implemented during year ending
September 30, 2025 and improves the information provided to financial statements users by
updating the recognition and measurement requirements for compensated absences under a
unified model and amending certain previously required disclosures.
47
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Compensated Absences - Continued
Upon implementation, the City recognized a liability for compensated absences for leave time
that (1) has been earned for services previously rendered by employees, (2) accumulates and is
allowed to be carried over to subsequent years, and (3) is more likely than not to be used as time
off or settled (for example paid in cash to the employee or payment to an employee benefit
account) during or upon separation from employment. The liability for compensated absences is
reported as incurred in the government -wide and proprietary fund financial statements.
Fund Balance Classifications
Fund balances are classified as follows on the governmental fund financial statements:
Reported in
Nonspendable
Restricted for
Debt service
Capital projects
Developer agreements
Court tech/building security
Juvenile case management
Cable PEG fees
Historical preservation
Opioid remediation
Assigned
Capital projects
Betterments
Emergency/radio systems
Tourism and
conference facilities
Parks, library, and
economic development
Police department
Other
Unassigned
Debt Service Car Rental Tax
General Fund Fund Fund
$ 162,438
162,433
62,463
99,255
47,230
64,263
29,343,626
$ - $
2,938,447
7,128,408
General CIP
Fund
Nonmajor
Governmental
Police CIP Fund Funds
Total
Governmental
Funds
$ $ 68,741 $ 231,179
1,430,521 4,368,968
10,762,913 58,025 10,820,938
2,912,798 2,912,798
162,433
292,813 292,813
652,693 652,693
843 843
62,463
13,413,720 3,047,787 20,107,711 36,569,218
99,255
47,230
2,238,089 2,238,089
Total $ 29,941,708 S 2,938,447 S 7,128,408 S 13,413,720 S 13,810,700
4,849,682 4,849,682
2,796,416 2,796,416
2,655,702 9,848,373
(28,721) 29,314,905
$ 38,035,313 $ 105,268,296
Non -spendable: This classification includes amounts that cannot be spent because they are either
(a) not in spendable form or (b) are legally or contractually required to be maintained intact. The
City has classified prepaid items and inventory as being non -spendable.
Restricted: This classification includes amounts for which constraints have been placed on the
use of the resources either (a) externally imposed by creditors (such as through a debt covenant),
grantors, contributors, or laws or regulations of other governments, or (b) imposed by law
through constitutional provisions or enabling legislation.
48
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Fund Balance Classifications — Continued
The City has recorded the following restrictions at year-end:
a. Restricted for debt service represents that portion of fund equity legally restricted for
retirement of bond principal and payment of interest and related charges.
b. Restricted for capital projects represents that portion of fund equity legally restricted by
debt covenant for capital projects and capital equipment purchases.
c. Restricted for developer agreements represents the portion of fund equity that must be
used for future improvements to various development areas within the City.
d. Restricted for court technology/building security represents funds collected from court
fees that must be used to upgrade court systems or building security.
e. Restricted for juvenile case processing represents funds collected from a fee on municipal
court citations that must be used to support the expenditures associated with juvenile case
processing.
f. Restricted for cable PEG fees represents the portion of fund equity that must be used for
the expansion of the City's public, educational, and government access channel.
g. Restricted for historical preservation represents donations that must be used toward the
preservation of the City's historical sites.
h. Restricted for opioid remediation represents the portion of fund equity that must be used
for opioid remediation activities.
Committed: This classification includes amounts that can be used only for specific purposes
pursuant to constraints imposed by formal action (ordinance) of the City Council. These
amounts cannot be used for any other purpose unless the City Council removes or changes
the specified use by taking the same type of action that was employed when the funds were
initially committed. This classification also includes contractual obligations to the extent that
existing resources have been specifically committed for use in satisfying those contractual
requirements. The City has no committed fund balance at year-end.
Assigned: This classification includes amounts that are constrained by the City's intended
use for a specific purpose but are neither restricted nor committed. The City Council
delegates the authority for determining this intent to the City Manager. Assignments are
made at the City Manager's discretion, but generally represent items for which specific funds
have been informally dedicated internally. This classification also includes the remaining
positive fund balance for all governmental funds except for the General Fund. The City has
recorded the following assignments at year-end:
a. Assigned for capital projects represents revenue sources that are to be used for capital
projects for the City.
b. Assigned for betterment represents funds donated by citizens that are to be used for the
betterment of the community.
c. Assigned for emergency/radio systems represents funding that is to be used to upgrade
emergency and radio systems.
49
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Fund Balance Classifications — Continued
d. Assigned for tourism and conference facilities represents funds to promote the City
through tourism, conference booking, and historical preservation.
e. Assigned for parks, libraries, and economic development represents funds from sales
taxes that are to be used for park improvements, library activities, and economic
development throughout the City.
f. Assigned for the police department are funds from the Crime Control and Prevention
District and police drug arrests and asset seizures to be used for police department
expenditures.
g. Assigned for other are funds from specific revenues that are to be spent for facility
remodel, victim assistance, and injured animals, as well as residual balances of selected
special revenue funds.
Unassigned: This classification includes all amounts that are not included in other spendable
classifications and the remaining negative fund balance for any governmental funds. The General
Fund is the only fund that reports a positive unassigned fund balance.
When available, the City uses restricted fund balances first, followed by committed resources,
assigned resources, then unassigned resources, as appropriate opportunities arise. However, the
City reserves the right to selectively spend unassigned resources first to defer the use of these
other classified funds.
Net Position
Net position represents the difference between assets and deferred outflows of resources and
liabilities and deferred inflows of resources of governmental and business -type activities and
proprietary funds. Net investment in capital assets consists of capital assets, net of accumulated
depreciation, plus capital -related deferred outflows of resources, reduced by the outstanding
balances of any borrowing and capital related deferred inflows of resources used for the
acquisition, construction, or improvements of those assets, plus unspent debt proceeds. Net
position is reported as restricted when there are limitations imposed on its use, either through the
enabling legislation adopted by the City or through external restrictions imposed by creditors,
grantors, or laws or regulations of other governments.
50
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Pensions
For purposes of measuring the net pension liability, pension -related deferred outflows and inflows
of resources, and pension expense, City -specific information about its Fiduciary Net Position in the
Texas Municipal Retirement System (TMRS) and additions to/deductions from the City's
Fiduciary Net Position have been determined on the same basis as they are reported by TMRS. For
this purpose, plan contributions are recognized in the period that compensation is reported for the
employee, which is when contributions are legally due. Benefit payments and refunds are
recognized when due and payable in accordance with the benefit terms. Investments are reported at
fair value. Information regarding the City's Total Pension Liability is obtained from TMRS
through a report prepared for the City by TMRS consulting actuary, Gabriel Roeder Smith &
Company, in compliance with Governmental Accounting Standards Board (GASB) Statement No.
68, Accounting and Financial Reporting for Pensions.
Other Post -Employment Benefits (OPEB)
For purposes of measuring the net OPEB liability, OPEB-related deferred outflows and inflows of
resources, and OPEB expense, City -specific information about its Fiduciary Net Position and
additions to/deductions from the City's Fiduciary Net Position have been determined on the same
basis as they are reported. For this purpose, plan contributions are recognized in the period that
compensation is reported for the employee. Benefit payments and refunds are recognized when due
and payable in accordance with the benefit terms. Investments are reported at fair value.
Information regarding the City's OPEB liability is obtained from an actuarial valuation through a
report prepared for the City by their consulting actuary in compliance with Governmental
Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for
Postemployment Benefits other than Pensions.
Deferred Outflows/Inflows of Resources
In addition to assets and liabilities, the statement of net position reports a separate section for
deferred outflows of resources and deferred inflows of resources. These separate financial
statement elements, deferred outflows of resources and deferred inflows of resources, represent a
consumption and acquisition of net assets that apply to a future period(s) and will not be
recognized as an outflow or inflow of resources (expense/expenditure or revenue) until then. The
City has the following items that qualify for reporting as deferred outflows and inflows of
resources:
• Pension contributions subsequent to the measurement date — these contributions are
deferred and recognized in the following fiscal year (deferred outflow of resources).
51
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Deferred Outflows/Inflows of Resources — Continued
• Difference in pension expected and actual experience — this difference is deferred and
amortized over a closed period that approximates the estimated average remaining lives of
all members on the measurement date (deferred outflow and inflow of resources).
• Changes in pension actuarial assumptions — this difference is deferred and amortized over a
closed period that approximates the estimated average remaining lives of all members on
the measurement date (deferred inflow of resources).
• Difference in projected and actual investment earnings for pension assets — the difference is
deferred and amortized over a closed five-year period (deferred outflow of resources).
• Difference in OPEB expected and actual investment experience — this difference is deferred
and amortized over a closed period that approximates the estimated average remaining
lives of all members on the measurement date (deferred inflow of resources).
• Changes in OPEB actuarial assumption changes — this difference is deferred and amortized
over a closed period that approximates the estimated average remaining lives of all
members on the measurement date (deferred outflow and inflow of resources).
• Difference in projected and actual investment earnings on OPEB assets — this difference is
deferred and amortized over a closed five-year period (deferred inflow of resources).
• Leases — this amount results from the City's long-term lease agreements in which the City
is a lessor. This amount is deferred and amortized over the lease period (deferred inflow of
resources).
Tax Abatements
The City provides tax abatement programs through economic development agreements designed
to promote local economic development and redevelopment; spur economic improvement;
stimulate business and commercial activity within the City; retain, create, and attract jobs; train
and retrain employees of local businesses; generate additional sales tax and enhance the property
tax base and economic condition of the City. Agreements generally contain recapture provisions
which may require repayment or termination if the recipients do not meet the required
provisions.
As of September 30, 2025, the City has two categories of tax abatement programs for economic
development:
Tax Abatements — The City has designated tax reinvestment zones and negotiated tax abatement
agreements with applicants as authorized by the Texas Tax Code Chapter 312 and administered
through the City's Tax Abatement Policy to promote development and redevelopment within the
City. Such abatement agreements authorize the appraisal district to reduce the assessed value of
the taxpayer's property by a percentage specified in the agreement, and the taxpayer will pay
taxes on the lower assessed value during the term of the agreement.
52
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
Tax Abatements - Continued
Recipients receiving tax abatements generally commit to the creation of new value of eligible
property improvements, either for new or improved existing facilities, made subsequent to the
agreement ranging from 35% to 75% for up to 10 years. No property taxes were abated under
this program in fiscal year 2025.
General Economic Development Agreements — The City has entered into various agreements
under Texas Local Government Code Chapter 380 to stimulate economic development. Such
agreements may provide rebates, grants, or loans for promotion of economic development
including attracting new business and encouraging expansion or retention of existing businesses.
Rebates may be a flat amount or percentage of property taxes or sales taxes received by the City.
For fiscal year 2025, the City rebated $1,194,992 in sales taxes, or 3.73% of the total sales tax
revenues and $16,572 in property tax revenue, or less than 0.05% of the total property tax
revenues. These rebates are reflected in non -departmental expenditures in the general fund and in
general and administrative expenditures in the EDC fund.
Leases - Lessor
The City is a lessor for noncancellable leases of property and buildings. The City recognizes a
lease receivable and a deferred inflow of resources in the government -wide, governmental fund
and proprietary fund financial statements. At the commencement of a lease, the City initially
measures the lease receivable at the present value of payments expected to be received during the
lease term. Subsequently, the lease receivable is reduced by the principal portion of lease
payments received. The deferred inflow of resources is initially measured as the initial amount of
the lease receivable, adjusted for lease payments received at or before the lease commencement
date. Subsequently, the deferred inflow of resources is recognized as revenue over the life of the
lease term.
Key estimates and judgments related to leases include how the City determines (1) the discount
rate it uses to discount the expected lease receipts to present value, (2) lease term, and (3) lease
payments.
• The City uses its estimated incremental borrowing rate as the discount rate for leases.
• The lease term includes the noncancellable period of the lease.
• Lease payments included in the measurement of the lease receivable are composed of
fixed payments from the lessee, variable payments from the lessee that are fixed in
substance or that depend on an index or a rate, residual value guarantee payments from
the lessee that are fixed in substance, and any lease incentives that are payable to the
lessee.
The City monitors changes in circumstances that would require a remeasurement of its leases and
will remeasure the lease receivable and deferred inflows of resources if certain changes occur
that are expected to significantly affect the amount of the lease receivable.
53
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 2. DEPOSITS AND INVESTMENTS
Deposits
State statutes and the City's investment policy require that all uninsured deposits in financial
institutions be fully collateralized by U.S. Government obligations or its agencies or
instrumentalities or direct obligations of Texas or its agencies or instrumentalities that have a
market value of not less than the principal amount of the deposits or by a letter of credit issued
by a federal home loan bank. The City's deposits were fully insured or collateralized as required
by state statutes as of September 30, 2025. At year-end, the carrying amount of the City's
deposits was $6,773,077, with a bank balance of $7,063,764.
The total bank balance is covered by Federal Depository Insurance Corporation (FDIC)
insurance or by collateral for balances in excess of FDIC coverage. Collateral is held by Bank of
NY Mellon in the City's name under a joint safekeeping agreement with Frost National Bank for
City deposits at Frost Bank. The market value of the collateral provided by Frost Bank at the
close of the fiscal year was $7,314,988 plus FDIC coverage of $250,000.
Investments
State statutes, City bond ordinances, and City resolutions authorize the City's investments. The
City is authorized to invest in obligations of the U.S. Government and its agencies and
instrumentalities, obligations of the State of Texas and its agencies and instrumentalities,
fully -insured or collateralized certificates of deposit, fully -collateralized repurchase agreements
and reverse repurchase agreements, government pools, and no-load SEC -registered money
market funds consisting of any of these securities listed.
Because the City is responsible for the investment portfolio of its component units, the City's
investment practices and policies disclosed herein apply equally to its component units. During
the year ended September 30, 2025, the City did not own any types of securities other than those
permitted by statute.
54
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 2. DEPOSITS AND INVESTMENTS — CONTINUED
Investments — Continued
Fair Value Level % of Rating
Investment Type Book Value 2 Portfolio WAM Rating Agency
Investments measured at amortized cost:
Investment Pools:
TexasClass $ 41,345,093 22% 17 AAAm S&P
TexPool 41,548,201 23% 44 AAAm S&P
TexSTAR 41,446,655 22% 50 AAAm S&P
Investments measured at fair value:
Certificates of Deposit 6,238,000 6,269,727 4% 9 Not rated
U.S. Government Agency Securities:
FNMA 1,000,000 1,001,530 1% 5 AA+/Aa1 S&P/Moody's
FFCB 22,980,134 23,076,950 12% 39 AA+/Aa1 S&P/Moody's
FHLB 24,490,040 24,538,345 13% 72 AA+/Aa1 S&P/Moody's
FAMCA 5,998,500 6,034,450 3% 19 Not rated
Totals
$ 185,046,623 $ 60,921,002 100%
Weighted average maturity (WAM) of the portfolio by investment type categories reflected in the previous table is stated in days. For the investment
pools, the Reset WAM is presented. Investment type acronyms displayed in the previous table are defined as follows: FNMA — Federal National
Mortgage Association, FFCB — Federal Farm Credit Bank, FHLB — Federal Home Loan Bank, and FAMCA — Federal Agricultural Mortgage
Corporation. The rating agency acronyms are defined as follows: S&P — Standard and Poor's Ratings Services, a division of the McGraw-Hill
Companies, Inc. and Moody's — Moody's Investor Service, Inc. Additional information about the rating agency or the significance of the ratings provided
may be obtained from each agency's web site.
Fair Value
The City categorizes its fair value measurements within the fair value hierarchy established
by generally accepted accounting principles. GASB Statement No. 72, Fair Value
Measurement and Application provides a framework for measuring fair value which
establishes a three -level fair value hierarchy that describes the inputs that are used to measure
assets and liabilities.
• Level 1 inputs are quoted prices (unadjusted) for identical assets or liabilities in active
markets that a government can access at the measurement date.
• Level 2 inputs are inputs — other than quoted prices included within Level 1 that are
observable for an asset or liability, either directly or indirectly.
• Level 3 inputs are unobservable inputs for an asset or liability.
The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to
Level 3 inputs. If a price for an identical asset or liability is not observable, a government
should measure fair value using another valuation technique that maximizes the use of
relevant observable inputs and minimizes the use of unobservable inputs. If the fair value of
an asset or a liability is measured using inputs from more than one level of the fair value
hierarchy, the measurement is considered to be based on the lowest priority level input that is
significant to the entire measurement.
55
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 2. DEPOSITS AND INVESTMENTS — CONTINUED
Investments — Continued
Fair Value — Continued
The City has recurring fair value measurements as presented in the previous table. The City's
investment balances and weighted average maturity of such investments are as shown.
Investment pools are measured at amortized cost and are exempt from fair value reporting.
U.S Treasury and U.S. Government Agency Securities classified in Level 2 of the fair value
hierarchy are valued using a matrix pricing technique. Matrix pricing is used to value
securities based on the securities' relationship to benchmark quoted prices.
Certificates of Deposit classified in Level 2 of the fair value hierarchy are valued using
inputs such as interest rates and yield curves that are observable at commonly quoted
intervals.
All of the public fund investment pools (pools) in which the City is a participant use
amortized cost to value the portfolio. Amortized cost, in most cases, approximates the market
value of the securities held. In order to meet the criteria to be recorded at amortized cost,
investment pools must transact at a stable net asset value per share and maintain certain
maturity, quality, liquidity and diversification requirements within the investment pool. The
pools in which the City invests transact at a net asset value of $1.00 per share, have a
weighted average maturity of 60 days or less and weighted average life of 120 days or less,
hold investments that are highly rated by a nationally recognized statistical rating
organization, have no more than 5% of the portfolio with one issuer (excluding U.S.
government securities), and can meet reasonably foreseeable redemptions.
The TexPool investment pool is an external investment pool that has a redemption notice
period of one day and has no maximum transaction amounts. Texpool's authorities may only
impose restrictions on redemptions in the event of a general suspension of trading on major
securities markets, general banking moratorium or national or state emergency that affects
the pool's liquidity.
The TexSTAR investment pool is an external investment pool with an investment strategy
that seeks preservation of principal, liquidity and current income through investment in a
diversified portfolio of short-term marketable securities. TexSTAR has a redemption notice
period of one day and may redeem daily. The investment pool's authorities may only impose
restrictions on redemptions in the event of a general suspension of trading on major securities
markets, general banking moratorium or national or state emergency that affects the pool's
liquidity.
56
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 2. DEPOSITS AND INVESTMENTS — CONTINUED
Investments — Continued
Fair Value — Continued
The MBIA Texas CLASS Investment Pool is governed by a Board of Trustees. The number
of trustees is determined and elected by the participants in the pool annually but it must be
comprised of an odd number with a minimum of three trustees. The Board meets upon the
request of at least two trustees, but not less than once annually. The pool is tailored to
comply with the Public Funds Investment Act. Duties of the governing board include
oversight responsibility.
TexPool falls under the purview of the Texas Comptroller of Public Accounts (Comptroller)
who is responsible for oversight of TexPool operations. The Comptroller exercises oversight
of the pools' activities via daily, weekly, and monthly reporting requirements. Federated
Hermes is responsible for managing pool assets and day-to-day operations. TexSTAR is duly
chartered and administered by HilltopSecurities Inc. and JP Morgan Asset Management.
TexSTAR has established a governing board that is partially comprised of pool participants.
Duties of the governing board include oversight responsibility.
Additionally, per the requirements of the Public Funds Investment Act (PFIA), all pools will
maintain an AAA or equivalent rating from at least one nationally recognized rating agency.
The PFIA also requires an annual examination of the financial statements of the pools by an
independent certified public accounting firm. In connection with the financial audit, a
compliance audit of management controls on investments and adherence to the investment
policies is also required.
Interest Rate Risk
In compliance with the City's Investment Policy, as of September 30, 2025, the City minimized
the interest rate risk, the risk relating to the decline in market value of securities in the portfolio,
by: limiting the weighted average maturity to 365 days and the stated maturity to two years or
less, with the exception of securities purchases related to reserve funds; structuring the
investment portfolio so that securities mature to meet cash requirements for ongoing operations,
thereby avoiding the need to sell securities in the secondary market prior to maturity; monitoring
credit ratings of portfolio positions to assure compliance with rating requirements imposed by
the PFIA; and investing funds primarily in money market mutual funds, government investment
pools, and shorter -term securities.
57
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 2. DEPOSITS AND INVESTMENTS — CONTINUED
Interest Rate Risk — Continued
The following table details the maturity schedule for the City's investment portfolio as of
September 30, 2025:
Maturity Schedule Book Value Fair Value % of Portfolio
Overnight $ 124,339,949 $ 124,339,949 67%
Less than 1 month 240,000 240,000 0%
1 to 6 months 13,665,460 13,684,160 8%
6 to 9 months 7,914,624 7,942,024 4%
9 to 12 months 2,478,800 2,492,226 1%
12 to 18 months 17,717,000 17,779,187 10%
18 to 24 months 5,194,540 5,216,860 3%
24 to 36 months 13,496,250 13,566,545 7%
Total $ 185,046,623 $ 185,260,951 100%
Credit Risk
In compliance with the City's Investment Policy, as of September 30, 2025, the City minimized
credit risk losses due to default of a security issuer or backer, by: limiting investments to the
safest types of securities; primarily investing in U.S. Agency Bonds rated AA+ by Standard &
Poor's; pre -qualifying financial institutions, brokers/dealers, and advisors with which the City
will do business; and diversifying the investment portfolio so that the potential losses on
securities are minimized.
Custodial credit risk — risk that a government will not be able to recover (a) deposits if the
depository financial institution fails or (b) the value of investment or collateral securities that are
in the possession of an outside party if the counterparty to the investment or deposit transaction
fails. To minimize such risk, the City requires collateralization of deposits in excess of FDIC
coverage, utilizes the delivery vs. payment method for investment purchases, and contracts with
a third -party collateral safekeeping agent.
Per the terms of its depository agreement, for bank deposits in excess of the coverage provided
by the FDIC, the City requires the depository bank to pledge to the City securities (collateral)
equal to 105% of the largest balances the City maintains in the bank. The percentage as shown
reflects the requirement based on market value of the pledged securities. The City actively
monitors and manages collateral levels for all deposits. On September 30, 2025, the City's bank
balances were fully insured or collateralized.
The City's depository bank also acts as its safekeeping agent per the terms of the depository
contract. City policy dictates that all securities rendered for payment will be sent delivery vs.
payment, meaning that the funds required for purchase of a security will not be released until the
safekeeping agent has received the security purchased in the City's name. No broker holds City
funds. The City does not purchase securities from its depository bank or any subsidiary banks of
the same bank holding company.
58
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 3. CAPITAL ASSETS
Capital asset activity for the year ended September 30, 2025, was as follows:
Governmental activities
Capital assets - nondepreciable
Land
Construction in progress
Total nondepreciable capital assets
Capital assets - depreciable/amortizable
Buildings
Improvements other than buildings
Infrastructure
Machinery and equipment
Intangible:
Right -to -use equipment
Right -to -use software
Total depreciable/amortizable capital assets
Less accumulated depreciation/amortization
Buildings
Improvements other than buildings
Infrastructure
Machinery and equipment
Intangible:
Right -to -use equipment
Right -to -use software
Total accumulated depreciation/amortization
Net depreciable/amortizable capital assets
Total governmental activities
capital assets, net
Balance
Beginning
of Year
Increase
Decrease
$ 44,105,486 $ 3,497,594 $
13,170,648 27,870,923
57,276,134 31,368,517
76,707,169
25,645,773
118,490,480
39,792,970
259,697
1,384,586
262,280,675
(36,977,307)
(8,009,431)
(58,607,581)
(24,515,363)
3,715,646
5,243,524
121,954
Adjustment/
Transfer
Balance
End of
Year
$ $ 47,603,080
(15,146,945) 25,894,626
(15,146,945) 73,497,706
(185,635) 9,470,814
(21,125) 785,398
2,438,015
(1,780,376) 2,452,718
9,081,124 (1,987,136)
(2,193,597) 22,943
(842,613) 21,125
(3,250,235) -
(3,626,872) 1,583,699
(186,438) (62,766)
(442,907) (339,748)
(128,739,027) (10,315,831) 1,627,767
133,541,648
$ 190,817,782
85,992,348
26,410,046
124,644,141
45,708, 836
259,697
1,506,540
15,146,945 284,521,608
(39,147,961)
(8,830,919)
(61,857,816)
(26,558,536)
(249,204)
(782,655)
(137,427,091)
(1,234,707) (359,369) 15,146,945 147,094,517
$ 30,133,810 $ (359,369) $ $ 220,592,223
59
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 3. CAPITAL ASSETS — CONTINUED
Balance Balance
Beginning Adjustment/ End of
of Year Increase Decrease Transfer Year
Business -type activities
Capital assets - nondepreciable
Land $ 5,718,545 $ - $ $ - $ 5,718,545
Construction in progress 4,744,539 4,868,025 (5,797,585) 3,814,979
Total nondepreciable capital assets 10,463,084 4,868,025 (5,797,585) 9,533,524
Capital assets - depreciable/amortizable
Buildings 7,434,837 - 7,434,837
Equipment 3,449,030 75,502 (24,858) 28,044 3,527,718
Improvements 21,397,788 99,498 (581,298) 988,149 21,904,137
Utility system 146,080,912 6,103,742 4,781,392 156,966,046
Intangible:
Right -to -use equipment 227,130 - 227,130
Right -to -use software 14,233 14,233
Total depreicable/amortizable capital assets 178,603,930 6,278,742 (606,156) 5,797,585 190,074,101
Less accumulated depreciation/amortization
Buildings (3,373,522) (221,051) (3,594,573)
Equipment (2,541,208) (233,496) 24,858 (2,749,846)
Improvements (14,265,452) (620,982) 255,772 (14,630,662)
Utility system (74,061,386) (3,428,616) (77,490,002)
Intangible:
Right -to -use equipment (134,118) (56,394) (190,512)
Right -to -use software (9,490) (4,743) (14,233)
Total accumulated depreciation/amortization (94,385,176) (4,565,282) 280,630 (98,669,828)
Net depreciable/amortizable capital assets 84,218,754 1,713,460 (325,526) 5,797,585 91,404,273
Total business -type activities capital
and intangible assets, net $ 94,681,838 $ 6,581,485 $ (325,526) $ $ 100,937,797
Capital asset depreciation and amortization expense was charged as a direct expense to programs of the
primary government as follows:
Governmental activities
Culture and recreation $ 1,127,560
Development 32,244
General administrative 5,104,050
Highways and streets 3,204,635
Public safety 847,342
Total capital asset depreciation and amortization expense - governmental activities $10,315,831
Business -type activities
Water and wastewater $ 2,815,539
Drainage utility 838,965
Golf course 442,497
Other recreation enterprises 468,281
Total capital asset depreciation and amortization expense - business -type activities $ 4,565,282
60
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 3. CAPITAL ASSETS — CONTINUED
Outstanding commitments at September 30, 2025, under authorized construction contracts, were
$10,099,736. These outstanding commitments are to be financed by available deposit and investment
balances, which include proceeds from previous bond issuances.
NOTE 4. LONG-TERM DEBT
The following is a summary of long-term debt activity of the City for the year ended September 30,
2025:
Governmental activities
General obligation bonds
Certificates of obligation
Sales tax revenue bonds
Tax notes
Premium on debt
Discount on debt
Lease liability
Subscription liability
Net pension liability
Net OPEB liability
Compensated absences *
Total governmental activities
Business -type activities
Water and sewer revenue bonds
General obligation refunding bonds
Premiums on debt
Discounts on debt
Lease liability
Subscription liability
Net pension liability
Net OPEB liability
Compensated absences *
Total business -type activities
Total primary government
Balance
Beginning
of Year
Increases
$ 685,000 $
67,465,000
4,570,000
5,575,000
3,431,016
(39,924)
73,259
941,678
18,316,651
4,204, 697
2,407,091 3,375,128
107,629,468 3,497,082
14,910,000
1,705,000
59,761
(14,626)
93,012
4,743
3,410,032
751,905
425,636 698,311
21,345,463
Decreases
Balance
End
of Year
$ (685,000) $
(10,290,000)
(245,000)
(1,050,000)
(531,480)
39,924
(62,766)
121,954 (339,747)
(5,211,277)
(1,534,545)
57,175,000
4,325,000
4,525,000
2,899,536
10,493
723,885
13,105,374
2,670,152
5,782,219
(19,909,891) 91,216,659
(840,000) 14,070,000
(1,705,000) -
(57,049) 2,712
1,625 (13,001)
(56,394) 36,618
(4,743) -
(1,007,432) 2,402,600
(296,653) 455,252
1,123,947
698,311 (3,965,646) 18,078,128
$ 128,974,931 $ 4,195,393 $ (23,875,537)
* The change in compensated absences above reflects the net increases and decreases.
Due
within
One Year
3,340,000
250,000
1,085,000
215,889
10,493
227,319
2,729,711
7,858,412
845,000
36,618
530,745
1,412,363
$ 109,294,787 $ 9,270,775
Governmental fund net pension liability and net OPEB liability are typically liquidated by the
general, half -penny sales tax, crime control and prevention district, and juvenile case funds.
61
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 4. LONG-TERM DEBT — CONTINUED
General Obligation Bonds
General obligation bonds and general obligation refunding bonds provide funds for the
acquisition and construction of major capital equipment, City facilities, and infrastructure assets
and the refunding of previously issued debt instruments. General obligation bonds require voter
authorization; whereas general obligation refunding bonds do not. General obligation bonds are
direct obligations of the City, payable from a continuing and direct ad valorem tax, levied within
the limits prescribed by law, on all taxable property within the City as provided in the ordinances
authorizing issuance of the bonds.
The City is required to compute an interest and sinking fund tax rate sufficient to cover the
annual debt service requirements inclusive of anticipated drawdown of reserves, transfers or
revenues from self-supporting debt systems, and other miscellaneous sources.
As of September 30, 2025, there are no general obligation bonds currently outstanding.
The business -type activities general obligation refunding bonds outstanding were issued to
refund previously issued golf course debt. The City paid the last two installments in advance and
fulfilled their debt obligation. As such, the debt is no longer reflected in the financial statements.
Certificates of Obligation
Certificates of obligation are issued for many of the same purposes as general obligation bonds,
but certificates do not require voter authorization nor may they be used to refund existing debt.
The certificates constitute direct obligations of the City, payable from (i) the levy and collection
of a direct and continuing ad valorem tax, levied within the limits prescribed by law, on all
taxable property within the City, and (ii) a limited pledge (not to exceed $1,000 per issue) of the
Net Revenues of the City's waterworks and sanitary sewer system.
The City currently has the following certificates of obligation outstanding as of the end of the
fiscal year:
Certificates of Obligation:
Series 2016
Series 2018
Series 2019
Series 2020
Series 2021
Series 2023
Interest
Rate %
3%-3.25%
3%-4%
3.25% — 5%
2%-3%
1.625% — 4%
4% — 5%
Maturity Principal
Dated Date Outstanding
01/12/2016
03/01/2018
01/15/2019
01 / 14/2020
04/08/2021
09/07/2023
02/15/2041 $12,170,000
02/15/2038 6,755,000
02/15/2039 9,340,000
02/15/2040 5,690,000
02/15/2041 4,525,000
02/15/2038 18, 695, 000
Total $57,175,000
62
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 4. LONG-TERM DEBT — CONTINUED
Annual debt service requirements to maturity for the certificates of obligation are as follows:
Fiscal
Year
Governmental Activities
Principal
2026 $3,340,000
2027 3,370,000
2028 3,355,000
2029 3,500,000
2030 3,655,000
2031-2035 20,540,000
2036-2040 18,505,000
2041 910,000
Total $57,175,000
Revenue Bonds
Interest
$2,068,632
1,937,098
1,803,576
1,662,350
1,514,301
5,300,054
1,432,654
12,725
$15,731,390
Total
$5,408,632
5,307,098
5,158,576
5,162,350
5,169,301
25,840,054
19,937,654
922,725
$72,906,390
Each series of revenue bonds is backed by the pledged revenue sources identified in the bond
ordinances authorizing issuance of the bonds. The purpose and primary pledged revenue sources
of each type of revenue bond are summarized as follows.
Half -penny sales tax fund issues sales tax revenue bonds (STRB) to finance library, park, and
economic development projects throughout the City. Sales tax revenue bonds are special
obligations of the Euless Development Corporation (EDC), payable solely from and secured by a
lien on and pledge of certain Pledged Revenues which includes the gross proceeds of a 1/2¢ sales
and use tax levied within the City for the benefit of the EDC. The EDC is reflected in the
financial statements of the City as a special revenue fund. Accordingly, the EDC's debt is
reflected in governmental activities debt.
Water and wastewater fund issues revenue bonds (W&WW) for the construction of and
improvements to the City's combined waterworks and sanitary sewer infrastructure or to refund
previously issued revenue bonds. Water and sewer revenue bonds and refunding bonds are
payable solely from and equally secured by a first lien on and pledge of the net revenues of the
City's water and wastewater system.
63
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 4. LONG-TERM DEBT — CONTINUED
Revenue Bonds — Continued
The City currently has the following revenue bonds outstanding at the end of the fiscal year:
Revenue Bonds:
W&WW Improvement, Series 2013
W&WW Improvement, Series 2015A
W&WW Improvement, Series 2015B
W&WW Improvement, Series 2018
W&WW Improvement, Series 2019
STRB, Series 2018
STRB, Series 2019
Interest
Rate %
Dated
Maturity
Date
Principal
Outstanding
4% — 5%
1.39% — 1.98%
1.09% — 1.68%
0.81%-1.49%
0.56% — 1.66%
4%
2.5%-4%
06/25/2013
06/15/2015
06/15/2015
04/12/2018
04/25/2019
10/15/2018
12/12/2019
07/15/2033
07/15/2035
07/15/2035
07/15/2038
07/15/2049
09/15/2038
09/15/2039
Total
Annual debt service requirements to maturity for revenue bonds are as follows:
Fiscal
Year
2026
2027
2028
2029
2030
2031-2035
2036-2040
2041-2045
2046-2049
Total
Governmental Activities
Principal Interest
$250,000 $146,975
260,000 136,975
270,000 126,575
280,000 115,775
295,000 104,575
1,600,000 380,025
1,370,000 105,850
Business -Type Activities
$ 780,000
2,475,000
1,300,000
1,870,000
7,645,000
1,180,000
3,145,000
$ 18,395,000
Principal Interest Total
$845,000 $224,201 $1,466,176
860,000 213,835 1,470,810
870,000 201,924 1,468,499
885,000 189,096 1,469,871
900,000 175,181 1,474,756
4,505,000 630,314 7,115,339
2,040,000 340,157 3,856,007
1,700,000 203,135 1,903,135
1,465,000 60,974 1,525,974
$4,325,000 $1,116,750 $14,070,000 $2,238,817 $21,750,567
The gross %2¢ sales tax revenues of the EDC recognized in the year ending September 30, 2025
totaled $8,011,985. The principal, interest and fiscal charges on the EDC debt including SBITA
payments for the same period totaled $406,930 which equates to approximately 5.1% of the
gross 1/20 sales tax revenues.
The recognized net revenues of the water and wastewater fund totaled $2,186,545 for the year
ending September 30, 2025. Principal, interest and fiscal charges on the water and sewer revenue
bonds totaled $1,073,658 which equates to approximately 49.1% of net system revenues.
64
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 4. LONG-TERM DEBT — CONTINUED
Revenue Bonds — Continued
In accordance with the water and sewer revenue and refunding bond ordinances, the following
reserves were established:
Reserve for revenue bond debt service — to be used for retirement of the current portion of
principal and interest payments.
Reserve for emergency — to be used for payment of extraordinary repairs or replacements to
the system necessitated by an emergency for which no other funds are available.
Revenue bond reserve — a reserve established at the time of issuance pursuant to the revenue
bond covenants which will be used for principal and interest payments in the event of default
by the issuer.
Should the reserve for revenue bond debt service and/or the revenue bond reserve prove
deficient, the reserve for emergency shall be used for the purpose of meeting principal and/or
interest requirements of the bonds.
All funding requirements for the above reserves were met at September 30, 2025.
Investments of funds included in the bond reserve and emergency accounts are restricted to
obligations of the United States or its agencies or instrumentalities (except for mortgage
pass -through securities).
Water and sewer revenue bonds authorized and unissued as of September 30, 2025, amounted to
$1,200,000. The water and sewer bonds were authorized in 1970, and currently the City Council
has no intent to issue these bonds.
Tax Notes
Tax notes are issued for payments made for the acquisition, design, construction, improvement,
expansion, and equipment for one or more fire stations and the costs of professional services
rendered in connection therewith and the financing thereof. The City currently has the following
tax notes outstanding as of the end of the fiscal year:
Tax Notes:
Series 2022
Interest
Rate % Dated
2.89% 09/20/2022
Maturity
Date
02/15/2029
Principal
Outstanding
$4,525,000
$4,525,000
65
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 4. LONG-TERM DEBT — CONTINUED
Tax Notes — Continued
Annual debt service requirements to maturity for the tax notes are as follows:
Fiscal
Year
Lease Liability
Governmental Activities
Principal Interest
Total
2026 $1,085,000 $115,094 $1,200,094
2027 1,115,000 83,304 1,198,304
2028 1,145,000 50,647 1,195,647
2029 1,180,000 17,051 1,197,051
Total $4,525,000 $266,096 $4,791,096
The City leases equipment consisting of printers, copiers and GPS equipment to utilize in various
operations of the City.
Prior to October 1, 2021, the City entered into a five-year lease agreement as lessee for the
use of printers and copiers. An initial lease liability was recorded in the amount of $346,263. As
of September 30, 2025, the value of the lease liability was $13,991. The City is required to make
monthly principal and interest payments of $7,000. The lease has an implicit interest rate of
1.9235%. The value of the right -to -use asset as of September 30, 2025 was $346,263 with
accumulated amortization of $332,272.
During the year ended September 30, 2022, the City entered into a four-year lease agreement as
lessee for the use of GPS equipment. An initial lease liability was recorded in the amount of
$140,564. As of September 30, 2025, the value of the lease liability was $33,120. The City is
required to make monthly principal and interest payments of $3,040. The lease has an interest
rate of .527%. The value of the right -to -use asset as of September 30, 2025 was $140,564 with
accumulated amortization of $107,444.
The future principal and interest lease payments as of September 30, 2025 were as follows:
Fiscal Governmental Activities Business -Type Activities
Year Principal Interest Principal Interest Total
2026 $10,493 $7 $36,618 $322 $47,440
Total $10,493 $7 $36,618 $322 $47,440
66
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 4. LONG-TERM DEBT — CONTINUED
Subscription -based IT Arrangements
The City leases certain software under subscription -based IT arrangements (SBITAs).
In August 2023, the City entered into a three-year subscription arrangement for the use of certain
software. An initial subscription liability was recorded in the amount of $35,130. As of
September 30, 2025, the value of the subscription liability was $0. The City is required to make
annual principal and interest payments that range from $12,000 to $13,000. The subscription has
an implicit interest rate of 2.363%. The value of the right -to -use asset as of
September 30, 2025 was $35,130 with accumulated amortization of $35,130.
In April 2023, the City entered into a three-year subscription arrangement for the use of certain
software. An initial subscription liability was recorded in the amount of $237,215. As of
September 30, 2025, the value of the subscription liability was $0. The City is required to make
annual principal and interest payments of $80,926. The subscription has an implicit interest rate
of 2.3633%. The value of the right -to -use asset as of September 30, 2025 was $237,215 with
accumulated amortization of $237,215.
In July 2023, the City entered into a three-year subscription arrangement for the use of certain
software. An initial subscription liability was recorded in the amount of $79,682. As of
September 30, 2025, the value of the subscription liability was $0. The City is required to make
annual principal and interest payments of $27,552. The subscription has an implicit interest rate
of 3.238%. The value of the right -to -use asset as of September 30, 2025 was $79,682 with
accumulated amortization of $79,682.
In January 2024, the City entered into a five-year subscription arrangement for the use of certain
software. An initial subscription liability was recorded in the amount of $1,046,792. As of
September 30, 2025, the value of the subscription liability was $628,024. The City is required to
make annual principal and interest payments of $226,895. The implicit interest rate is 2.31%.
The value of the right -to -use asset as of September 30, 2025 was $1,046,792 with accumulated
amortization of $418,768.
In February 2025, the City entered into a five-year subscription arrangement for the use of
certain software. An initial subscription liability was recorded in the amount of $121,954. As of
September 30, 2025, the value of the subscription liability was $95,860. The City is required to
make annual principal and interest payments of $26,118. The implicit interest rate is 3.54%. The
value of the right -to -use asset as of September 30, 2025 was $121,954 with accumulated
amortization of $26,094.
67
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 4. LONG-TERM DEBT — CONTINUED
Subscription -based IT Arrangements
The future principal and interest lease payments as of September 30, 2025 were as follows:
Fiscal Governmental Activities
Year Principal Interest
Total
2026 $ 227,319 $ 17,691 $ 245,010
2027 232,834 12,175 245,009
2028 238,507 6,503 245,010
2029 25,225 893 26,118
Total $ 723,885 $ 37,262 $ 761,147
NOTE 5. COMMITMENTS AND CONTINGENT LIABILITIES
The City entered into a contract dated January 21, 1972, with Trinity River Authority (TRA)
whereby TRA agreed to provide treated water to the City. This contract was for an original term of
thirty-five (35) years and continues in effect until all bonds, or any bonds issued to refund same,
have been paid in full. Additionally, on October 10, 1973, the City entered into a contract with TRA
to provide wastewater treatment services to the City. The contract remains in force and effect for a
period of fifty (50) years and thereafter until any bonds, or any bonds issued to refund same, have
been paid in full. Payments by the City are based on metered usage at rates designed to charge the
City a prorata share of TRA's annual operating and maintenance expenses and principal and interest
requirements on bonds issued by TRA. Payments under these contracts in the year ended
September 30, 2025 totaled $16,833,016 and are included as operating expenses of the water and
wastewater fund.
The City entered into a 20-year contract dated February 2, 2010, with the City of Fort Worth
(Fort Worth) whereby Fort Worth agreed to provide reclaimed water service to the City. Payments
by the City are based on metered volume. Payments under this contract totaled $442,330 in the year
ended September 30, 2025 and are included as operating expenses of the water and wastewater fund.
The City is involved in a number of lawsuits arising in the ordinary course of business. In the
opinion of the City's legal counsel and management, any liability resulting from such litigation
would not be material in relation to the City's financial position.
NOTE 6. SERVICE CENTER
The water and wastewater enterprise fund historically bears the major portion of the operating costs
of the City's service center, which provides services to all City departments.
68
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 7. INTERFUND TRANSFERS
All interfund transfers between the various funds are approved supplements to the operations of
those funds.
Transfers out
Transfers in
Non -major Subtotal
General Debt Service Car Rental Tax General CIP Governmental Governmental
General $ $ - $ - $ 3,000,000 $ 1,208,459 $ 4,208,459
Debt service - - 197,505 - 197,505
Car rental tax 2,128,636 150,000 6,600,000 8,878,636
Water and wastewater 1,725,708 - - - - 1,725,708
Drainage utility 61,970 - 61,970
Nonmajor governmental - 8,597,988 750,000 - 5,213,200 14,561,188
Total transfers in $ 3,916,314 $ 8,597,988 $ 750,000 $ 3,347,505 $ 13,021,659 $ 29,633,466
Transfers in
Internal Other Recreation Subtotal Total
Service Golf Course Enterprises Enterprise Transfers Out
Transfers out
General $ 450,000 $ 15,596 $ $ 15,596 $ 4,674,055
Debt service - - - 197,505
Car rental tax 1,116,104 2,190,000 - 2,190,000 12,184,740
Water and wastewater 450,000 - - - 2,175,708
Drainage utility - - - 61,970
Nonmajor governmental 1,280,797 183,357 1,464,154 16,025,342
Total transfers in $ 2,016,104 $ 3,486,393 $ 183,357 $ 3,669,750 $ 35,319,320
Transfers are primarily used to move funds from:
The general fund to the general CIP fund and non -major governmental funds to satisfy grant
matching requirements and to provide capital project funding per the approved budget and to the
golf course fund for sales tax rebates.
The car rental tax fund, the water and wastewater fund, and the drainage utility fund to the general
fund for general and administrative charges.
The car rental tax fund to the nonmajor governmental funds to provide funding for approved capital
projects.
Car rental tax fund to the nonmajor governmental, general CIP and golf funds to provide financing
for approved capital projects.
The car rental tax fund to the internal service funds for the replacement of capital assets.
The nonmajor governmental fund to the car rental fund for the return of start up cash.
The non -major governmental funds to nonmajor governmental funds to provide task force and
project funding.
69
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 7. INTERFUND TRANSFERS — CONTINUED
The non -major governmental funds to other recreation enterprises fund to provide festival funding.
The non -major governmental funds to the debt service fund for debt payments on previously issued
debt.
The general fund and water and wastewater fund to the internal service funds for workers'
compensation and general liability insurance claims.
The debt service fund to the general capital projects funds to transfer residual balance for project
funding.
The nonmajor governmental funds to the golf course and to cover a portion of the operating and debt
costs associated with the conference center and for project funding.
NOTE 8. RISK MANAGEMENT
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. The City participates in the
Texas Municipal League Intergovernmental Risk Pool (TMLIRP) to provide both general liability
and property insurance.
The City, along with other participating entities, contributes annual amounts determined by TMLIRP
management. As claims arise they are submitted to and paid by TMLIRP. The City is not liable for
payments beyond their annual contributions to TMLIRP and related deductibles.
In fiscal year 2006, the City contracted with the Texas Municipal League Intergovernmental Risk
Pool to provide workers' compensation insurance and effectively discontinued being self -insured for
workers' compensation claims. This policy has no deductibles, includes all claims handling, and has
a fixed premium.
In fiscal years prior to 2006, the City was self -insured for workers' compensation claims.
Contributions were made to a separate risk management fund by other funds and were available to
pay claims, claim reserves, and administrative costs of the program. The City remains liable under
its self-insurance program for any claims occurring prior to October 1, 2005.
The City provides employee health insurance coverage on a self -insured basis. Premiums are paid
into a separate insurance fund by other funds, by the City's employees, and by retirees. The
premiums are used to fund claims, administrative costs of the program, and claim reserves. An
excess coverage insurance policy covers individual claims in excess of $125,000 and aggregate
claims in excess of $8,253,901. During fiscal year 2025, the City and the City's employees
contributed approximately $6,020,505 and $1,668,340 respectively, for medical coverage.
The City's contributions are accounted for as interfund services provided and used. Claims liabilities
are based on estimates of the ultimate cost of claims (including future claim adjustment expenses)
that have been reported but not settled, and of claims that have been incurred but not reported and
are accounted for in the Insurance Internal Service Fund.
70
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 8. RISK MANAGEMENT — CONTINUED
Changes in the balances of health, dental, and prescription claims liabilities for the years ended
September 30, 2025 and 2024 are as follows:
2025 2024
Unpaid claims, beginning of year $ 633,001 $ 986,000
Incurred claims 5,377,136 4,743,399
Paid claims (5,140,137) (5,096,398)
Unpaid claims, end of year $ 870,000 $ 633,001
Settlement amounts have not exceeded stop loss insurance coverage for the year ended
September 30, 2025 or any of the three preceding years ended September 30.
NOTE 9. DEFINED BENEFIT PENSION PLAN
Plan Description
The City participates as one of 938 plans in the defined benefit cash -balance plan administered
by the Texas Municipal Retirement System (TMRS). TMRS is a statewide public retirement plan
created by the State of Texas and administered in accordance with the TMRS Act, Subtitle G,
Title 8, Texas Government Code (the TMRS Act) as an agent multiple -employer retirement
system for employees of participating Texas cities. The TMRS Act places the general
administration and management of TMRS with a six -member, Governor -appointed Board of
Trustees; however, TMRS is not fiscally dependent on the State of Texas. TMRS issues a
publicly available Annual Comprehensive Financial Report (Annual Report) that can be obtained
at tmrs.com.
All eligible employees of the City are required to participate in TMRS.
Benefits Provided
TMRS provides retirement, disability and death benefits. Benefit provisions are adopted by the
governing body of the City, within the options available in the state statutes governing TMRS.
At retirement, the member's benefit is calculated based on the sum of the member's
contributions, with interest, the city -financed monetary credits with interest, and their age at
retirement and other actuarial factors. The retiring member may select one of seven monthly
benefit payment options. Members may also choose to receive a portion of their benefit as a
lump sum distribution in an amount equal to 12, 24 or 36 monthly payments, which cannot
exceed 75% of the total member contributions and interest.
71
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN — CONTINUED
Benefits Provided — Continued
Plan provisions for the City are as follows:
Employee deposit rate
Matching ratio (City to employee)
A member is vested after
Service retirement eligibility
Updated service credit
Annuity increase (to retirees)
Employees Covered By Benefit Terms
7%
2 to 1
5 years
20 years at any age, 5 years at 60 and above
100% Repeating, Transfers
70% of CPI
At the December 31, 2024 valuation and measurement date, the following employees were
covered by the benefit terms:
Inactive employees or beneficiaries currently receiving benefits 324
Inactive employees entitled to, but not yet receiving benefits 218
Active employees 398
Total 940
Contributions
Member contribution rates in TMRS are either 5%, 6%, or 7% of the Member's total
compensation, and the city matching percentages are either 1:1 (1 to 1), 1.5:1 (1 1/2 to 1), or 2:1
(2 to 1), both as adopted by the governing body of the City. Under the state law governing
TMRS, the contribution rate for each city is determined annually by the actuary, using the Entry
Age Normal (EAN) actuarial cost method. The city's contribution rate is based on the liabilities
created from the benefit plan options selected by the City and any changes in benefits or actual
experience over time.
Employees for the City were required to contribute 7% of their annual gross earnings during the
year ended September 30, 2025. The contribution rates for the City were 18.66% and 18.63% in
calendar years 2024 and 2025, respectively. The City's contributions to TMRS for the year
ended September 30, 2025 totaled $6,837,457 and were equal to the required contributions.
Net Pension Liability
The City's Net Pension Liability (NPL) was measured as of December 31, 2024, and the Total
Pension Liability (TPL) used to calculate the Net Pension Liability was determined by an
actuarial valuation as of that date.
72
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN — CONTINUED
Actuarial Assumptions
The TPL in the December 31, 2024 actuarial valuation was determined using the following
actuarial assumptions:
Inflation
Overall payroll growth
Investment rate of return
2.5% per year
2.75% per year, adjusted down for population declines, if
any
6.75%, net of pension plan investment expense, including
inflation
Salary increases are based on a service -related table. Mortality rates for active members are
based on the PUB(10) mortality tables with 110% of the Public Safety table used for males and
100% of the General Employee table used for females. Mortality rates for healthy retirees and
beneficiaries are based on the Gender -distinct 2019 Municipal Retirees of Texas mortality tables.
Male rates are multiplied by 103% and female rates are multiplied by 105%. The rates for
actives, healthy retirees and beneficiaries are projected on a fully generational basis by the most
recent Scale MP-2021 to account for future mortality improvements. For disabled annuitants, the
same mortality tables for healthy retirees are used with a 4-year set -forward for males and a 3-
year set -forward for females. In addition, a 3.5% and 3.0% minimum mortality rate is applied,
for males and females respectively, to reflect the impairment for younger members who become
disabled. The rates are projected on a fully generational basis by the most recent Scale MP-2021
to account for future mortality improvements subject to the 3.5% and 3.0% floor.
The actuarial assumptions were developed primarily from the actuarial investigation of the
experience of TMRS over the four-year period from December 31, 2018 to December 31, 2022.
The assumptions were adopted in 2023 and first used in the December 31, 2023 actuarial
valuation. The post -retirement mortality assumption for Annuity Purchase Rates (APRs) is based
on the Mortality Experience Investigation Study covering 2009 through 2011 and dated
December 31, 2013. Plan assets are managed on a total return basis with an emphasis on both
capital appreciation as well as the production of income in order to satisfy the short-term and
long-term funding needs of TMRS.
The long-term expected rate of return on pension plan investments was determined by best
estimate ranges of expected returns for each major asset class. The long-term expected rate of
return is determined by weighting the expected return for each major asset class by the respective
target asset allocation percentage.
73
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN — CONTINUED
Actuarial Assumptions — Continued
The target allocation and best estimates of real rates of return for each major asset class for the
year ended December 31, 2024 are summarized in the following table:
Asset Class
Target
Allocation
Long -Term Expected Real Rate
of Return (Arithmetic)
Global Equity 35.0% 7.10%
Core Fixed Income 6.0% 5.00%
Non -Core Fixed Income 6.0% 6.80%
Hedge Funds 5.0% 6.40%
Private Equity 13.0% 8.50%
Private Debt 13.0% 8.20%
Real Estate 12.0% 6.70%
Infrastructure 6.0% 6.00%
Other Private Markets 4.0% 7.30%
Total 100.0%
Discount Rate
The discount rate used to measure the Total Pension Liability was 6.75%. The projection of cash
flows used to determine the discount rate assumed that employee and employer contributions
will be made at the rates specified in statute. Based on that assumption, the pension plan's
Fiduciary Net Position was projected to be available to make all projected future benefit
payments of current active and inactive members. Therefore, the long-term expected rate of
return on pension plan investments was applied to all periods of projected benefit payments to
determine the Total Pension Liability.
74
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN — CONTINUED
Changes in the Net Pension Liability
Increase (Decrease)
Total Pension Liability
(a)
Balance at 12/31/2023 $ 275,530,673
Changes for the year:
Service cost 7,118,643
Interest 18,425,883
Change in benefit terms -
Difference between expected
and actual experience
Changes of assumptions
Contributions - employer
Contributions - employee
Net investment income
Benefit payments, including
refunds of employee contributions
Administrative expense
Other changes
Net changes
3,915,554
(12,227,906)
Balance at 12/31/2024 $
Plan Fiduciary
Net Position
(b)
$ 253,803,990
6,911,223
2,592,638
26,348,013
(12,227,906)
(169,130)
(3,955)
17,232,174 23,450,883
292,762,847 $ 277,254,873
There were no changes in benefit terms during the year.
Sensitivity of the Net Pension Liability to Changes in the Discount Rate
Net Pension
Liability
(a) - (b)
$ 21,726,683
7,118,643
18,425,883
3,915,554
(6,911,223)
(2,592,638)
(26,348,013)
169,130
3,955
(6,218,709)
$ 15,507,974
The following presents the net pension liability of the City, calculated using the discount rate of
6.75%, as well as what the City's net pension liability would be if it were calculated using a
discount rate that is 1-percentage-point lower (5.75%) or 1-percentage-point higher (7.75%) than
the current rate:
1% Decrease in
Discount Rate
(5.75%)
Discount Rate
(6.75%)
1% Increase in
Discount Rate
(7.75%)
City's net pension liability $ 54,673,023 $ 15,507,974 $ (16,914,495)
75
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 9. DEFINED BENEFIT PENSION PLAN — CONTINUED
Pension Plan Fiduciary Net Position
Detailed information about the pension plan's Fiduciary Net Position is available in the Schedule
of Changes in Fiduciary Net Position, by Participating City. That report may be obtained at
tmrs.com.
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions
For the valuation date of December 31, 2024, the City recognized pension expense of
$6,948,476. At September 30, 2025, the City reported deferred outflows of resources and
deferred inflows of resources related to pensions from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected
and actual experience $ 3,987,442 $ (228,345)
Changes in actuarial assumptions - (889,510)
Difference between projected and
actual investment earnings - (2,720,829)
Contributions subsequent to the
measurement date 4,931,434 -
Totals $ 8,918,876 $ (3,838,684)
$4,931,434 reported as deferred outflows of resources related to the pension resulting from
contributions subsequent to the measurement date will be recognized as a reduction of the net
pension liability for the year ended September 30, 2025. Other amounts reported as deferred
outflows and inflows of resources related to pensions will be recognized in pension expense as
follows:
Measurement Net Deferred
Year Outflows/(Inflows)
December 31, of Resources
2025 $ 1,402,920
2026 3,760,740
2027 (3,453,279)
2028 (1,561,623)
Total
$ 148,758
76
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 10. OTHER POSTEMPLOYMENT BENEFITS
Postemployment Healthcare Plan
Plan Description
The City adopted the City of Euless Post -Employment Benefits Trust (OPEB Trust) by passage
of Resolution No. 09-1319 on September 8, 2009 which authorized participation in the PARS
Public Agencies Post -Retirement Health Care Plan Trust, including the City of Euless Public
Agencies Post -Retirement Health Care Plan (the Plan), as part of the City's Retirement Program.
Article III of the Public Agencies Post -Retirement Health Care Plan Master Plan Document as
adopted provides for the determination of eligibility under the plan to each participating
Employer to the extent provided in the Employer's applicable policies.
The City's policies with regard to post -employment healthcare coverage are governed by the
City of Euless Medical and Dental Plan, the City's group health insurance plan, the benefits of
which are established by management.
Benefits provided. The City provides post -employment medical, dental, life, and vision benefits
under the Plan to eligible retirees and dependents qualifying as one of the eligible classes of
dependents as described in the Plan. To be eligible for coverage under the Plan, an employee
must retire with the City of Euless and be eligible for retirement through TMRS. TMRS
retirement eligibility requirements are described in detail in Note 9. Additionally, written
application to enroll himself/herself and all eligible dependents (for which coverage is elected) in
the Plan must be made by the employee prior to or on the retirement date.
The Plan provides lifetime benefits or until Medicare eligibility is attained. Regardless of
Medicare enrollment status, the Plan will base payment of benefits as though Medicare were
responsible for primary payment of benefits insomuch as allowed by Federal law.
The Plan is a single -employer defined benefit healthcare plan administered by the City Manager,
his/her successor, or his/her designee. Separate financial statements for the Plan are not issued,
but rather are included in the financial statements of the City which are available on-line at
http s://www. eulesstx.gov/departments/finance/annual-comprehensive-financial-report.
The OPEB Trust is an agent multiple -employer trust arrangement established to provide
economies of scale and efficiency of administration to public agencies. The OPEB Trust is
established as a tax-exempt trust within the meaning of Section 115 of the Internal Revenue
Code and is intended to hold the assets used to fund the City's post -employment benefits offered
by the City to its employees as specified in the City's policies.
Upon adoption of the Trust Agreement, a separate Agency Account was established under the
OPEB Trust for the City, and all assets of the Trust attributable to the City are held in the City's
Agency Account. The assets of the Trust are available only to pay post -employment healthcare
benefits of eligible employees of the City and their dependents and other associated
administrative costs.
77
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 10. OTHER POSTEMPLOYMENT BENEFITS — CONTINUED
Funding Policy
A Participant in the OPEB Trust is required from time to time to contribute to its Agency
Account an amount determined by such Participant at its sole discretion. Such amount may, but
need not, equal such Participant's actuarially determined contribution (ADC) as determined in
accordance with GASB 74. However, it is currently the intent of the Plan Administrator to
annually fund an amount equal to, or in excess of, the ADC. This intent is subject to change and
is subject to annual appropriation.
Contribution requirements of Plan members and the City are determined by the Plan
Administrator and may be amended by same from time to time. For the year ending September
30, 2025, plan members contributed monthly premiums of:
Medical Plan
Dental Vision
Retiree Only $ 933.84 $ 39.82 $ 7.58
Retiree plus Children 1,734.28 75.64 12.38
Retiree plus Spouse 1,147.81 91.57 14.68
Retiree plus Family 2,708.10 115.47 20.79
Retired employees meeting all eligibility requirements as set forth in the Plan that were hired
prior to October 1, 2006 and are either:
a) Retired and enrolled in the Plan on or prior to September 30, 2007; or
b) Retired and not enrolled in the Plan on or prior to September 30, 2007 and meet
guidelines for reinstatement to the Plan; or
c) Employees who were not retired as of September 30, 2007 that retire with at least ten
years of service to the City of Euless and have a combined age and years of service equal
to at least 70
will qualify for a service discount on their total premium, subject to annual appropriation, as set
forth in the following table.
Retired employees meeting all eligibility requirements as set forth in the Plan that were hired
after October 1, 2006 and before October 1, 2014 retiring with a minimum of 20 years of service
with a combined age and years of service to the City of Euless equal to at least 80 qualify for a
service discount on their total premium, subject to annual appropriation, as set forth in the
following:
Discounts on Premiums
Hired Pre-10/2006
Hired Post-10/2006 Hired Post-10/2014
Service Retiree Retiree+ Retiree Retiree+ Retiree Retiree+
10 to 14 years 15% 30% N/A N/A N/A N/A
15 to 19 years 25% 40% N/A N/A N/A N/A
20 to 24 years 35% 50% 35% 50% N/A N/A
25 to 29 years 50% 65% 50% 65% N/A N/A
30+ years 60% 75% 60% 75% N/A N/A
78
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 10. OTHER POSTEMPLOYMENT BENEFITS — CONTINUED
Funding Policy — Continued
Retirees are permitted to participate with active employees in the healthcare plan but retirees
must pay all premiums (less applicable discounts) assigned to them. The City will continue to
apply the applicable discount to surviving spouse/dependents based upon a deceased employee's
years of service. Employees hired on or after October 1, 2014 will not be eligible for premium
discounts regardless of years of service.
Per the requirements of GASB 74 and GASB 75, the following data is presented.
Plan Membership
At the October 1, 2023 actuarial valuation date and September 30, 2025 measurement date, plan
membership consisted of the following:
Employees/retirees covered by the benefit terms:
Inactive plan members or beneficiaries currently receiving benefit payments 58
Inactive plan members entitled to, but not yet receiving benefit payments 15
Active plan members 335
408
Investments
Investment policy. The City's policy in regard to the allocation of invested assets is established
and may be amended by the City Manager. The City Council appointed the City Manager or her
successor or her designee as the City's Plan Administrator. The City Manager selected the
balanced, moderately aggressive actively -managed investment option to provide growth of
principal and income. While dividend and interest income are an important component of the
objective's total return, it is expected that capital appreciation will comprise a larger portion of
the total return. The portfolio will be allocated between equity and fixed income investments.
Asset Class
Strategic Target 9/30/2025
Range Allocation Allocation
Equity 50-70% 60% 60%
Fixed income 30-50% 38% 37%
Cash 0-20% 2% 3%
100% 100%
Rate of return. For the year ended September 30, 2025, the annual money -weighted rate of
return on investments, net of investment expense, was 9.96%. The money -weighted rate of
return expresses investment performance, net of investment expense, adjusted for the changing
amounts actually invested.
79
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 10. OTHER POSTEMPLOYMENT BENEFITS — CONTINUED
Investments — Continued
Concentrations. The following investments comprised 5% or more of the OPEB plan's fiduciary
net position as of September 30, 2025:
% of
Asset Class Investment Vehicle Portfolio
Equity Schwab US Large -Cap ETF 23.72%
Fixed Income Baird Aggregate Bond Inst 10.06%
Fixed Income iShares Core US Aggregate Bond ETF 8.31%
Equity Columbia Contrarian Core Inst3 7.67%
Equity Fidelity International Index Fund Stock Price 7.28%
Fixed Income Dodge & Cox Income 6.36%
Fixed Income PGIM Total Return Bond R6 6.34%
Equity Fidelity Emerging Markets Index Fund 5.60%
Net OPEB Liability of the City
The components of the net OPEB liability of the City at September 30 were as follows:
2025 2024
Total OPEB liability
Plan fiduciary net position
$ 20,455,254 $ 20,038,221
(17,329,850) (15,081,619)
City's net OPEB liability $ 3,125,404 $ 4,956,602
Plan fiduciary net position as a percent
of the total OPEB liability
Actuarial Methods and Assumptions
84.72% 75.26%
Projections of benefits for financial reporting purposes are based on the substantive plan (the
plan as understood by the employer and the plan members) and include the types of benefits
provided at the time of each valuation and the historical pattern of sharing of benefit costs
between the employer and plan members at that point. The actuarial methods and assumptions
used include techniques that are designed to reduce the effects of short-term volatility in actuarial
accrued liabilities and the actuarial value of plan assets, consistent with the long-term perspective
of the calculations.
80
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 10. OTHER POSTEMPLOYMENT BENEFITS — CONTINUED
Actuarial Methods and Assumptions — Continued
An actuarial valuation was performed as of October 1, 2023 using the entry age normal actuarial
cost method. The liability was then rolled forward to the measurement date of September 30,
2025. The actuarial assumptions include:
Inflation 2.50% per annum
Salary increases 3.00% per annum
Investment rate of return 7.50%
Healthcare cost trend rates 6.21% with annual increases/decreases to
an ultimate rate of 4.2% in 2048
Dental cost trend rates 3.00%
Mortality rates were based on the sex distinct PUB 2010 general employee/retiree headcount
weighted mortality table with mortality improvements scale MP-2021. The plan has not had a
formal actuarial experience study performed.
The expected return of each asset class is determined through a combination of historical rates of
return, valuation projections, and economic expectations. Expected rates of return are developed
and annually reviewed. The long-term expected rate of return on OPEB plan investments is then
calculated by weighting the returns for each asset class according to the exposure as determined
by the current strategic allocation. The anticipated long-term rate of return is 6.7% with an
expected standard deviation of 9.7%. Anticipated long-term returns by asset class are not
available.
Discount rate. The discount rate used to measure the total OPEB liability was 7.5%. The
projection of cash flows used to determine the discount rate assumed the City contributions will
be made at rates at least equal to the actuarially determined contribution rates. Based on those
assumptions, the OPEB Plan's fiduciary net position was projected to be available to make all
projected future benefit payments of current plan members. Therefore, the long-term expected
rate of return on OPEB plan investments was applied to all periods of projected benefit payments
to determine the total OPEB liability.
Sensitivity of the OPEB liability to changes in the discount rate. The following presents the net
OPEB liability of the City as well as what the City's net OPEB liability would be if it were
calculated using a discount rate that is one percentage point lower (6.5%) or one percentage point
higher (8.5%) than the current discount rate:
1% Decrease
(6.5%)
Discount Rate
(7.5%)
1% Increase
(8.5%)
Net OPEB liability $ 6,677,580 $ 3,125,404 $ 309,087
81
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 10. OTHER POSTEMPLOYMENT BENEFITS — CONTINUED
Actuarial Methods and Assumptions — Continued
Sensitivity of the OPEB liability to changes in the healthcare cost trend rates. The following
presents the net OPEB liability of the City as well as what the City's net OPEB liability would be
if it were calculated using healthcare cost trend rates that are one percentage point lower or one
percentage point higher than the current healthcare cost trend rates:
1% Decrease
Net OPEB liability
Net OPEB Liability
Balance at 9/30/2024
Changes for the year:
Service cost
Interest
Difference between expected
and actual experience
Changes of assumptions
Difference in expected and
actual net investment income
Contributions - employer
Contributions - other
Net investment income
Benefit payments, including
refunds of employee contributions
Administrative expense
Net changes
Balance at 9/30/2025
Current Trend
Rates (6.21%)
1% Increase
$ 47,075 $ 3,125,404 $ 7,039,035
Total OPEB
Liability
(a)
$ 20,038,221
180,302
1,470,137
300,233
(1,309,524)
(224,115)
417,033
Increase (Decrease)
Plan Fiduciary
Net Position
(b)
Net OPEB
Liability
(a) - (b)
$ 15,081,619 $ 4,956,602
302,047
2,019,008
300,233
1,160,582
(1,309,524)
(224,115)
180,302
1,470,137
(302,047)
(2,019,008)
(1,160,582)
2,248,231 (1,831,198)
$ 20,455,254 $ 17,329,850 $ 3,125,404
82
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 10. OTHER POSTEMPLOYMENT BENEFITS — CONTINUED
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to OPEB
For the year ended September 30, 2025, the City recognized OPEB expense of $(147,880).
At September 30, 2025, the City reported deferred outflows of resources and deferred inflows of
resources related to OPEB from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Difference between expected and
actual experience $ - $ (2,845,835)
Changes in actuarial assumptions 1,209,298 (781,892)
Difference between projected and
actual investment earnings - (900,602)
Total $ 1,209,298 $ (4,528,329)
Amounts reported as deferred outflows and inflows of resources related to OPEB will be
recognized in OPEB expense as follows:
Fiscal Year Net Deferred
Ending Outflows/(Inflows)
September 30, of Resources
NOTE 11. FUND DEFICIT
2026 $ (447,720)
2027 (1,101,625)
2028 (1,049,201)
2029 (390,447)
2030 (330,038)
Total $ (3,319,031)
As of September 30, 2025, the Midtown PID fund had a deficit fund balance of $28,721.
83
CITY OF EULESS, TEXAS
NOTES TO BASIC FINANCIAL STATEMENTS
NOTE 12. LEASE RECEIVABLES
The City leases various property and buildings to other entities. The initial lease terms ranged from
five to 23 years in length. The City received annual payments from these leases of $796,177. The
City recognized $689,840 in lease revenue and $106,337 in interest revenue during the current fiscal
year related to these leases. As of September 30, 2025, the City's receivable and deferred inflows of
resources for leases was $4,795,692 for governmental activities and $279,366 for business -type
activities. The deferred inflow of resources associated with these leases will be recognized as
revenue over the lease terms.
84
REQUIRED SUPPLEMENTARY INFORMATION
THE CITY OF
EULESS
CITY OF EULESS, TEXAS
SCHEDULE OF CHANGES IN NET PENSION LIABILITY (ASSET) AND RELATED RATIOS
FOR THE MEASUREMENT YEAR ENDED DECEMBER 31
Total pension liability
Service cost
Interest (on the total pension liability)
Difference in expected and actual experience
Change in assumptions
Benefit payments, including refunds
Net change in total pension liability
Total pension liability, beginning of year
Total pension liability, ending of year
Plan fiduciary net position
Contributions - employer
Contributions - employee
Net investment income
Benefit payments, including refunds
Administrative expense
Other
Net change in plan fiduciary net position
Plan fiduciary net position - beginning
Plan fiduciary net position - ending
2024 2023
$ 7,118,643 $ 6,375,962
18,425,883 17,715,585
3,915,554 (396,247)
(1,543,563)
(12,227,906) (11,772,376)
17,232,174 10,379,361
275,530,673 265,151,312
$ 292,762,847 $ 275,530,673
$ 6,911,223 $ 6,044,874
2,592,638 2,389,279
26,348,013 26,680,738
(12,227,906) (11,772,376)
(169,130) (169,815)
(3,955) (1,186)
23,450,883 23,171,514
2022
2021
2020
2019
2018
2017
2016
2015
$ 5,966,121 $ 5,642,742 $ 5,645,675 $ 5,375,963 $ 5,253,722 $ 5,149,378 $ 4,868,631 $ 4,539,237
16,821,152 15,918,254 15,244,423 14,557,634 13,864,487 13,129,452 12,462,429 12,302,430
1,567,444 2,211,218 (728,824) (171,396) (206,128) 169,296 (361,966) (579,992)
145,747 (595,757)
(10,845,200) (10,270,056) (10,084,210) (9,652,090) (7,756,635) (7,465,146) (6,990,135) (6,911,946)
13,509,517 13,502,158 10,077,064 10,255,858 11,155,446 10,982,980 9,978,959 8,753,972
251,641,795 238,139,637 228,062,573 217,806,715 206,651,269 195,668,289 185,689,330 176,935,358
$ 265,151,312 $ 251,641,795 S 238,139,637 $ 228,062,573 $ 217,806,715 $ 206,651,269 S 195,668,289 $ 185,689,330
$ 5,713,524
2,267,255
(18,380,677)
(10,845,200)
(159,083)
189,833
(21,214,348)
$ 5,511,185
2,140,878
29,364,122
(10,270,056)
(135,860)
930
26,611,199
$ 5,419,109
2,144,052
16,076,966
(10,084,210)
(104,023)
(4,058)
13,447,836
$ 5,192,816
2,077,001
28,704,340
(9,652,090)
(162,161)
(4,871)
26,155,035
$ 5,146,736
2,023,998
(5,754,957)
(7,756,635)
(111,206)
(5,810)
(6,457,874)
$ 5,027,855
1,981,736
23,456,668
(7,465,146)
(121,542)
(6,160)
22,873,411
$ 4,691,585
1,877,709
10,748,002
(6,990,135)
(121,371)
(6,539)
10,199,251
$ 4,644,735
1,801,285
235,212
(6,911,946)
(143,262)
(7,076)
(381,052)
253,803,990 230,632,476 251,846,824 225,235,625 211,787,789 185,632,754 192,090,628 169,217,217 159,017,966 159,399,018
$ 277,254,873 $ 253,803,990 $ 230,632,476 $ 251,846,824 $ 225,235,625 $ 211,787,789 $ 185,632,754 $ 192,090,628 $ 169,217,217 $ 159,017,966
Net pension liability (asset) - ending $ 15,507,974 $ 21,726,683
Plan fiduciary net position as a % of TPL 94.70% 92.11%
Covered payroll $ 37,037,682 $ 34,132,558
Net pension liability (asset) as a % of covered payroll 41.87% 63.65%
$ 34,518,836
86.98%
$ 32,389,362
106.57%
$ (205,029)
100.08%
$ 30,583,969
(0.67%)
87
$ 12,904,012
94.58%
$ 30,616,434
42.15%
$ 16,274,784
92.86%
$ 29,619,629
54.95%
$ 32,173,961 $ 14,560,641
85.23% 92.95%
$ 28,914,263 $ 28,308,838
111.27% 51.44%
$ 26,451,072
86.48%
$ 26,824,411
98.61%
$ 26,671,364
85.64%
$ 25,732,638
103.65%
CITY OF EULESS, TEXAS
SCHEDULE OF CONTRIBUTIONS - PENSION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Actuarially determined contributions $ 6,837,457 $ 6,558,023 $ 5,917,958 $ 5,518,493 $ 5,534,917 $ 5,532,423 $ 5,174,020 $ 5,094,779 $ 4,971,811 $ 4,670,520
Actual contributions (6,837,457) (6,558,023) (5,917,958) (5,518,493) (5,534,917) (5,532,423) (5,174,020) (5,094,779) (4,971,811) (4,670,520)
Contributions deficiency (excess) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Covered payroll $ 36,686,000 $ 35,591,209 $ 33,832,208 $ 31,442,237 $ 30,853,753 $ 31,348,108 $ 29,411,252 $ 28,640,420 $ 28,113,691 $ 26,464,297
Ratio of actual contributions to
covered payroll amount
18.64% 18.43% 17.49% 17.55% 17.94% 17.65% 17.59% 17.79% 17.69% 17.65%
Notes to Schedule
Valuation Date Actuarially determined contribution rates are calculated as of December 31st each year and become effective in January, 13 months later.
Methods and Assumptions Used to Determine Contribution Rates:
Actuarial Cost Method Entry Age Normal
Amortization Method Level Percentage of Payroll, Closed
Remaining Amortization Period 20 years
Asset Valuation Method 10 year smoothed market; 12% soft corridor
Inflation 2.5%
Salary Increases 3.60% to 11.85% including inflation
Investment Rate of Retum 6.75%
Retirement Age Experience -based table of rates that vary by age. Last updated for the 2023 valuation pursuant to an experience study of the period ending 2022.
Mortality Post -retirement: 2019 Municipal Retirees of Texas Mortality Tables. Male rates are multiplied by 103% and female rates are multiplied by 105%.
The rates are projected on a filly generational basis by the most recent Scale MP-2021 (with immediate convergence). Pre -retirement: PUB (10)
mortality tables with the 110% of the Public Safety table used for males and the 100% of the General Employee table used for females. The rates are
projected on a fully generational basis by the most recent Scale MP-2021 (with immediate convergence).
Other information
Notes:
There were no benefit changes during the year.
88
CITY OF EULESS, TEXAS
SCHEDULE OF CHANGES IN NET OPEB LIABILITY AND RELATED RATIOS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30
2025* 2024* 2023* 2022* 2021* 2020* 2019* 2018*
2017*
Total OPEB liability
Service cost $ 180,302 $ 175,050 $ 306,311 $ 331,127 $ 287,730 $ 267,668 $ 435,930 $ 447,155 $ 75,083
Interest on total OPEB liability 1,470,137 1,307,026 1,531,512 1,603,744 1,539,416 1,379,257 1,360,548 1,271,483 825,331
Effect of changes of benefit terms - - - - -
Effect of difference between expected
and actual experience - (3,738,721) (200,028) (627,155) 1,459,988 432,425
Contributions - other 300,233 263,735 252,575 246,671 281,524 276,885 270,205 -
Effect of changes of assumptions 1,428,452 (1,824,415) 1,322,815 (798,143) 5,480,748
Administrative expense (224,115) (171,718) (171,897) (144,973) (140,970) (131,481) (135,119)
Benefit payments (1,309,524) (604,237) (1,226,752) (1,053,109) (955,297) (898,811) (1,019,931) (1,230,281) (1,332,839)
Net change in OPEB liability
Beginning balance
417,033 (1,340,413) 691,749 (1,040,983) 1,012,403 1,589,178 911,633 1,150,202 5,480,748
20,038,221 21,378,634 20,686,885 21,727,868 20,715,465 19,126,287 18,214,654 17,064,452 11,583,704
Ending balance $ 20,455,254 $ 20,038,221 $ 21,378,634 $ 20,686,885 $ 21,727,868 $ 20,715,465 $ 19,126,287 $ 18,214,654 $ 17,064,452
Plan fiduciary net position
Contributions - employer $ 2,019,008 $ 1,275,600 $ 1,906,655 $ 1,663,312 $ 1,515,094 $ 1,455,171 $ 1,583,715 $ 1,754,093 $ 1,832,839
Contributions - other 300,233 263,735 252,575 246,671 281,524 276,885 270,205 320,471 Net investment income (loss) 1,160,582 887,464 754,490 (1,928,493) 668,472 577,387 502,656 381,824 559,716
Difference in expected and actual
net investment income 302,047 1,847,733 262,122 - 950,076 11,026 (226,279) -
Benefit payments (1,309,524) (604,237) (1,226,752) (1,053,109) (955,297) (898,811) (1,019,931) (1,230,281) (1,332,839)
Administrative expense (224,115) (171,718) (171,897) (144,973) (140,970) (131,481) (135,119) (147,597) (13,525)
Net change in plan fiduciary
net position 2,248,231 3,498,577 1,777,193 (1,216,592) 2,318,899 1,290,177 975,247 1,078,510 1,046,191
Beginning balance 15,081,619 11,583,042 9,805,849 11,022,441 8,703,542 7,413,365 6,438,118 5,359,608 4,313,417
Ending balance $ 17,329,850 $ 15,081,619 $ 11,583,042 $ 9,805,849 $ 11,022,441 $ 8,703,542 $ 7,413,365 $ 6,438,118 $ 5,359,608
City's net OPEB liability ending $ 3,125,404 $ 4,956,602 $ 9,795,592 $ 10,881,036 $ 10,705,427 $ 12,011,923 $ 11,712,922 $ 11,776,536 $ 11,704,844
Plan fiduciary net position as a %
of the total OPEB liability 84.72% 75.26% 54.18% 47.40% 50.73% 42.01% 38.76% 35.35% 31.41%
Covered employee payroll $ 36,686,000 $ 35,591,209 $ 33,832,208 $ 31,442,237 $ 30,853,753 $ 31,348,108 $ 29,411,252 $ 28,640,420 $ 25,944,080
City's net OPEB liability as a %
of covered employee payroll
8.52%
13.93% 28.95%
34.61% 34.70% 38.32% 39.82% 41.12% 45.12%
* This schedule is presented to illustrate the requirement to show ten years of information. However, until a full ten-year trend is available, the schedule will present the information that is available.
89
Actuarially determined contribution
Contributed in relation to the actuarially
determined contribution
Contribution deficiency (excess)
Covered employee payroll
Contributions as a percentage of
covered employee payroll
2025*
CITY OF EULESS, TEXAS
SCHEDULE OF CONTRIBUTIONS - OPEB TRUST
FOR THE FISCAL YEAR ENDED SEPTEMBER 30
2024* 2023*
$ 660,671 $ 748,653 $ 1,297,029
2,019,008 1,275,600 1,906,655
$ (1,358,337) $ (526,947) $ (609,6261
$ 36,686,000 $ 35,591,209 $ 33,832,208
5.5% 3.6%
5.6%
2022*
2021* 2020*
2019*
2018*
2017*
$ 1,300,719 $ 1,421,454 $ 1,388,216 $ 1,486,177 $ 1,492,738 $ 1,226,144
1,663,312 1,515,094 1,455,171 1,583,715 1,754,093 1,832,839
$ (362,593) $ (93,640) $ (66,955) $ (97,5381 $ (261,3551 $ (606,695)
$ 31,442,237 $ 30,853,753 $ 31,348,108 $ 29,411,252 $ 28,640,420 $ 25,944,080
5.3%
4.9% 4.6%
5.4%
* This schedule is presented to illustrate the requirement to show ten years of information. However, until a full ten-year trend is available, the schedule will present the information that is available.
Notes to Schedule
Significant assumptions used in preparation of actuarial valuation
Valuation date
Actuarial cost method
Amortization method
Remaining amortization period
Amortization period for new losses
Asset valuation method
Discount rate
Inflation
Healthcare cost trend rates
Dental cost trend rates
Payroll growth rate
Long-term investment rate of return,
net of investment expense
Retirement age
Mortality
10/1/2023
Entry Age Normal
Level Dollar Method
22 years - closed period
25 years - closed period
Market value
7.5%
2.5% per annum
6.21% increasing/decreasing annually to 4.2% in 2048+
3.0% per annum
3.0% per annum
90
7.5%
Varies with age and service level
Sex distinct PUB 2010 general employee retiree
headcount weighted mortality table with mortality
improvement scale MP-2021.
6.1%
7.1%
CITY OF EULESS, TEXAS
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 2025
Revenues
General property tax
Current and delinquent taxes
Penalty and interest
Total property tax
Gross receipts tax
Telephone line access fee
Electric company
Gas company
Cable TV
City garbage service
Water and wastewater system
Others
Total gross receipts tax
General sales tax
Fines and fees
Municipal court fines
Jail income
Dog licenses and pound fees
Ambulance fees
Library fees
Zoning fees
Deferred adjudication fee
Total fines and fees
Licenses and permits
Building permits
Miscellaneous permits
Minimum housing
Total licenses and permits
Investment income
Intergovernmental
Other revenues
Rental income
Swimming pools
Miscellaneous income
Total other revenues
Total revenues
Budgeted Amounts
Original Final
$ 23,459,205
75,000
$ 23,459,205
75,000
Actual
GAAP
Basis
$ 23,136,618
92,064
Variance with
Final Budget
Positive
(Negative)
$ (322,587)
17,064
23,534,205
71,550
1,692,266
606,269
133,644
368,000
1,747,990
250,296
23,534,205
71,550
1,692,266
606,269
133,644
368,000
1,747,990
250,296
23,228,682
61,150
1,667,492
613,608
154,486
395,384
1,725,708
293,810
(305,523)
(10,400)
(24,774)
7,339
20,842
27,384
(22,282)
43,514
4,870,015
17,770,019
1,698,903
1,390,316
7,500
1,090,475
5,873
14,500
64,880
4,870,015
17,770,019
1,698,903
1,390,316
7,500
1,090,475
5,873
14,500
64,880
4,911,638
19,514,896
2,142,735
1,390,316
8,008
1,515,765
7,712
17,961
68,287
41,623
1,744,877
443,832
508
425,290
1,839
3,461
3,407
4,272,447
4,272,447
300,000 300,000
234,307 234,307
56,245 56,245
5,150,784
5,829,270
357,981
108,466
878,337
5,529,270
123,674
52,221
590,552 590,552
341,793 341,793
585,917 585,917
500,420 500,420
280,476 280,476
192,318 192,318
6,295,717
1,325,689
540,676
720,727
243,578
241,068
5,705,165
983,896
(45,241)
220,307
(36,898)
48,750
973,214 973,214
1,205,373
232,159
52,938,162 52,938,162
62,173,455 9,235,293
91
CITY OF EULESS, TEXAS
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 2025
Expenditures
Current
Culture and recreation
Development services
General and administrative
Highways and streets
Public safety
Debt service
Principal
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other financing sources (uses)
Issuance of subscription debt
Proceeds from sale of assets
Transfers in
Transfers out
Total other financing
sources (uses), net
Net change in fund balance
Fund balance,
beginning of year
Budgeted Amounts
Original Final
$ 4,270,810
1,201,166
17,475,122
2,120,829
34,062,652
$ 4,270,810
1,562,515
17,639,396
2,120,829
34,062,652
Actual
GAAP
Basis
$ 4,117,975
1,526,434
14,805,095
1,852,663
32,439,450
(Continued)
Variance with
Final Budget
Positive
(Negative)
$ 152,835
36,081
2,834,301
268,166
1,623,202
171,724 (171,724)
3,043 (3,043)
59,130,579 59,656,202 54,916,384
4,739,818
(6,192,417) (6,718,040) 7,257,071 13,975,111
- 121,954
5,000 5,000 11,350
3,939,358 3,939,358 3,916,314
(4,627,158) (4,671,110) (4,674,055)
(682,800) (726,752) (624,437)
(6,875,217) (7,444,792) 6,632,634
23,309,074 23,309,074 23,309,074
121,954
6,350
(23,044)
(2,945)
102,315
14,077,426
Fund balance, end of year $ 16,433,857 $ 15,864,282 $ 29,941,708 $ 14,077,426
92
CITY OF EULESS, TEXAS
BUDGETARY COMPARISON SCHEDULE
CAR RENTAL SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
Car rental tax $ 19,157,728 $ 19,157,728 $ 20,255,173 $ 1,097,445
Investment income 570,462 570,462 947,391 376,929
Total revenues 19,728,190 19,728,190 21,202,564 1,474,374
Expenditures
General and administrative 12,871,819 14,115,089 13,564,649 550,440
Capital outlay 722,972 722,972 151,816 571,156
Total expenditures
Excess of revenues
over expenditures
13,594,791 14,838,061
13,716,465 1,121,596
6,133,399 4,890,129 7,486,099 2,595,970
Other financing sources (uses)
Transfers in 750,000 750,000 750,000
Transfers out (12,034,740) (12,184,740) (12,184,740)
Net other financing sources (uses) (11,284,740) (11,434,740) (11,434,740)
Net change in fund balance (5,151,341) (6,544,611) (3,948,641) 2,595,970
Fund balance, beginning of year 11,077,049 11,077,049 11,077,049
Fund balance, end of year $ 5,925,708 $ 4,532,438 $ 7,128,408 $ 2,595,970
93
CITY OF EULESS, TEXAS
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
NOTE 1. BUDGET BASIS OF ACCOUNTING
The City Council adheres to the following procedures in establishing budgetary data reflected in the
financial statements:
1. Prior to August 1, the City Manager submits to the City Council a proposed operating budget
for the fiscal year commencing the following October 1. The operating budget includes
proposed expenditures and expenses and means of financing them.
2. Public hearings are conducted to obtain taxpayers' comments.
3. Prior to September 30, the budget is legally enacted through passage of an ordinance and a
budgetary report is prepared.
4. The City Manager is authorized to transfer budgeted amounts between departments within
any fund; however, any revision that alters the total expenditures or expenses of any fund
must be approved by the City Council. The budget presented reflects revisions made during
the year. The legal level of control is at the fund level.
5. A budget is legally adopted for the general fund and special revenue funds on a basis
consistent with accounting principles generally accepted in the United States of America.
Formal budgetary integration is employed as a management control device during the year
for the general fund and special revenue funds. Appropriations and encumbrances lapse at
year-end.
6. Formal budgetary integration is not employed for the debt service funds because effective
budgetary control is alternatively achieved through general obligation bond indenture
provisions.
7. Budgetary data for the capital projects funds has not been presented in the accompanying
basic financial statements as such funds are budgeted over the life of the respective projects
and not on an annual basis. Accordingly, formal budgetary integration of the capital projects
funds is not employed and comparison of actual results of operations to budgetary data for
such funds is not presented.
8. Appropriated budgets for the proprietary funds are also adopted but have not been presented
since reporting on such budgets is not legally required.
The Budgetary Comparison Schedules — general fund and car rental tax special revenue fund present
a comparison of budgetary data to actual results. These funds utilize the same basis of accounting for
both budgetary purposes and actual results.
94
COMBINING AND INDIVIDUAL FUND
STATEMENTS AND SCHEDULES
NON -MAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
Special revenue funds are used to account for specific revenues that are legally restricted to
expenditures for particular purposes.
Hotel/Motel Fund — to account for the operations and expenditures for which hotel/motel
occupancy taxes are used. Occupancy tax revenues are used primarily for advertising and
promotion of the City.
Stars Building Fund — to account for lease revenue related to the Stars Center.
Half -Penny Sales Tax Fund — to account for the sales tax revenues and expenditures of the
Euless Development Corporation, a component unit of the City of Euless. The revenues can only
be spent on parks, library, debt service, and economic development activities within the City of
Euless.
Police Drug Enforcement Fund — to account for proceeds from drug seizures and the sale of
assets seized in connection with drug arrests. Revenues are used solely for police department
expenditures.
Crime Control and Prevention District Fund — to account for the revenues and expenditures of
this component unit of the City of Euless. The revenues are collected from sales taxes and
expenditures can only be spent for police department operations and capital as approved by the
Crime Control and Prevention District Board.
Elementary School Resource Officer Fund (ESRO) — to account for HEB ISD funding for
elementary school resource officers subject to continued approval of an interlocal agreement
between HEB ISD and cities located within HEB ISD jurisdiction.
Grant Fund — to account for grant revenues received by the City, which must be spent in
accordance with grant provisions.
Police Seized Asset Fund — to account for resources received from asset forfeiture pursuant to
court judgment File No. 09-13-640 to be administered in compliance with Chapter 59, Texas
Code of Criminal Procedure.
Juvenile Case Fund — to account for a fee added to municipal court citations. This fee is used to
support the expenditures associated with juvenile case processing.
Glade Parks Public Improvement District (PID) Fund — to account for the accumulation of
resources from an assessment levied upon properties within the district boundaries. The
resources are utilized for the repayment of debt issued to fund public improvements within the
district. The district assesses property owners only for the portion of the debt payment not
covered with resources of the Glade Parks TIRZ #3.
96
NON -MAJOR GOVERNMENTAL FUNDS — Continued
Tax Increment Reinvestment Zone #3 — Glade Parks Fund (TIRZ #3) — to account for the
accumulation of a portion of the incremental property taxes from taxing entities participating in
the tax increment reinvestment zone. The resources are used for the repayment of debt issued to
fund public improvements within the zone.
Midtown Public Improvement District (PID) Fund — to account for the accumulation of resources
from an assessment levied upon properties within the district boundaries. The resources are
utilized for the repayment of debt issued to fund public improvements within the district.
Midtown TIRZ #4 Fund — to account for the accumulation of a portion of the incremental
property taxes from taxing entities participating in the tax increment reinvestment zone. The
resources are used for the repayment of debt issued to fund public improvements within the zone.
The TIRZ #4 fund revenues reduce the amount of revenue needed from the Midtown PID fund to
pay debt service.
Cable PEG Fees Fund — to account for a 1% fee collected from cable channel providers for
expansion of the city's public, educational, and governmental access channel.
CAPITAL PROJECTS FUNDS
Half -Penny Sales Tax CIP Fund — to account for bond proceeds and sales tax receipts to be
expended for capital projects funded by the Euless Development Corporation, a component unit
of the City of Euless.
Developers' Contribution Fund — to account for funds received for the purpose of making new
and future improvements to various development areas within the City.
Street CIP Fund — to account for street construction and reconstruction projects and the means of
financing such improvements.
Redevelopment CIP Fund — to account for land acquisition and revitalization projects designed
to enhance development and promote redevelopment throughout the community.
Midtown Reserve Fund — to account for resources used to re-establish the Midtown debt reserve.
TIRZ #4 Midtown CIP Fund — to account for construction projects and the means of financing
such projects within the development area generally known as Founders Parc, formerly Euless
Midtown.
Car Rental CIP Fund — to account for building and infrastructure projects that are funded from
short-term motor vehicle rental tax.
97
CITY OF EULESS, TEXAS
COMBINING BALANCE SHEET
NON -MAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2025
Special Revenue Funds
Police Crime
Drug Control and
Hotel/ Stars Half -Penny Enforce- Prevention
Motel Building ESRO Sales Tax ment District Grant
Fund Fund hind Fund Fund Fund Fund
ASSETS
Deposits and investments $ 2,140,705 $ $ - $ 4,212,311 $ 904,185 $ 1,345,034 $ 63,616
Accounts receivable 374,105 124,704 1,500 1,737 12,234
Property taxes receivable - -
Accrued interest receivable 17,480 6,055
Due from other governments - 1,389,984 697,333
Lease receivable 2,541,881 1,518,820 -
Prepaids and deposits 750 - 7,749 56,567
Restricted deposits and investments
Total assets S 2,515,560 $ 2,541,881 S 124,704 $ 7,147,844 $ 905,922 S 2,104,989 $ 75,850
LIABILITIES
Accounts payable $ 275,878 $ $ 97,692 $ 253,393 $ 228,132 $ 11,111 $
Accrued salaries and wages 27,012 87,404 - 97,792 1,648
Total liabilities 275,878 - 124,704 340,797 228,132 108,903 1,648
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - other
Deferred inflows related to leases
Total deferred inflows of resources
FUND BALANCES
Nonspendable
Restricted, debt service
Restricted, capital projects
Restricted, developer agreements
Restricted, juvenile case management
Restricted, cable PEG fees
Restricted, historical preservation
Assigned
Unassigned
750
843
2,541,881
1,518,820
2,541,881 1,518,820
7,749
430,796
56,567
2,238,089 4,849,682 677,790 1,939,519 74,202
Total fund balances 2,239,682 5,288,227 677,790 1,996,086 74,202
Total liabilities, deferred inflows of
resources, and fund balances $ 2,515,560 $ 2,541,881 $ 124,704 $ 7,147,844 $ 905,922 S 2.104,989 $ 75,850
98
Special Revenue Funds
Police Cable Special
Seized Juvenile Glade Parks TIRZ#3 Midtown TIRZ#4 PEG Revenue
Assets Case PID Glade Parks PID Midtown Fees Funds
Fund Fund Fund Fund Fund Fund Fund Totals
$ 179,107 $ 293,788 $
$ 1,217,779 $ 6,822 $ 1,137,154 $ 641,793 $ 12,142,294
82,000 - 1,811 12,000 610,091
124,065 18,691 - 142,756
23,535
2,087,317
- 4,060,701
3,675 68,741
$ 179,107 $ 293,788 $ - $ 1,423,844 $ 6,822 $ 1,157,656 $ 657,468 $ 19,135,435
$ $ 126 $ $ $ 1,219 $ $ 1,100 $ 868,651
849 - - 214,705
975
1,219 1,100 1,083,356
34,324
34,324
4,060,701
34,324 4,095,025
3,675 68,741
- 430,796
292,813 - 292,813
652,693 652,693
- - 843
179,107 1,423,844 1,157,656 12,539,889
- (28,721) (28,721)
179,107 292,813 1,423,844 (28,721) 1,157,656 656,368 13,957,054
$ 179,107 $ 293,788 $ $ 1,423,844 $ 6,822 $ 1,157,656 $ 657,468 $ 19,135,435
CITY OF EULESS, TEXAS
COMBINING BALANCE SHEET
NON -MAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2025
Capital Project Funds
Half -Penny
Sales Tax Developers' Street Redevelopment
CIP Contribution CIP CIP
Fund Fund Fund Fund
ASSETS
Deposits and investments $ 7,366,671 $ 3,020,822 $ 5,511,352 $ 2,076,156
Accounts receivable - - Property taxes receivable - -
Accrued interest receivable 5,250 16,272
Due from other governments - -
Lease receivable
Prepaids and deposits
Restricted deposits and investments
Total assets $ 7,371,921 $ 3,020,822 $ 5,527,624 $ 2,076,156
LIABILITIES
Accounts payable $ - $ 108,024 $ 678,697 $ 22,770
Accrued salaries and wages
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - other
Deferred inflows related to leases
Total deferred inflows of resources
108,024 678,697 22,770
FUND BALANCES
Nonspendable - - -
Restricted, debt service - - -
Restricted, capital projects -
Restricted, developer agreements 2,912,798 -
Restricted, juvenile case management - -
Restricted, cable PEG fees -
Restricted, historical preservation - -
Assigned 7,371,921 4,848,927 2,053,386
Unassigned - -
Total fund balances
7,371,921 2,912,798 4,848,927 2,053,386
Total liabilities, deferred inflows of
resources, and fund balances $ 7,371,921 $ 3,020,822 $ 5,527,624 $ 2,076,156
100
Capital Project Funds
TIRZ #4 Car Capital Total
Midtown Midtown Rental Project Non -major
Reserve CLP CLP Funds Governmental
Fund Fund Fund Totals Funds
$ 999,725 $ - $ 5,895,638 $ 24,870,364 $ 37,012,658
- 610,091
- - 142,756
35,022 56,544 80,079
- - 2,087,317
- - 4,060,701
- - 68,741
58,025 58,025 58,025
$ 999,725 $ 58,025 $ 5,930,660 $ 24,984,933 $ 44,120,368
$
999,725
$ - $ 97,183 $ 906,674 $ 1,775,325
214,705
97,183 906,674 1,990,030
34,324
- - 4,060,701
4,095,025
- - 68,741
- 999,725 1,430,521
58,025 58,025 58,025
- 2,912,798 2,912,798
- 292,813
- - 652,693
- - 843
5,833,477 20,107,711 32,647,600
- - (28,721)
999,725 58,025 5,833,477 24,078,259 38,035,313
$ 999,725 $ 58,025 $ 5,930,660 $ 24,984,933 $ 44,120,368
101
CITY OF EULESS, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND
BALANCES - NON -MAJOR GOVERNMENTAL FUNDS
YEAR ENDED SEPTEMBER 30, 2025
Special Revenue Funds
Police Crime
Drug Control and
Hotell Stars Half -Penny Enforce- Prevention
Motel Building ESRO Sales Tax ment District Grant
Fund Fund Fund Fund Fund Fund Fund
Revenues
General property tax $ - $
Gross receipts tax 1,698,065
General sales tax
Investment income 99,717
Intergovernmental
Rents and royalties
Other revenues
Total revenues
$
8,011,985 3,990,233 - 212,077 24,875 49,858
620,887 - 15,000 174,449
- 84,567
15,833
1,797,782 620,887 8,308,629 39,875 4,055,924 174,449
Expenditures
Culture and recreation 4,184,492
Development services - 273,521
General and administrative 412,005 362,622
Highways and streets - - -
Public safety 494,109 30,697 3,474,748 158,706
Debt service
Principal 26,094 249,743
Interest and fiscal charges - 24 157,187
Capital outlay 275,142 100,660 9,778 17,721
Total expenditures 687,147 620,887 5,237,343 48,418 3,474,748 158,706
Excess (deficiency) of revenues
over(under) expenditures 1,110,635 3,071,286 (8,543) 581,176 15,743
Other financing sources (uses)
Transfers in 5,000 58,459
Transfers out (1,464,154) (5,428,840) (5,000)
Total other
financing sources (uses), net (1,464,154) (5,428,840) 5,000 (5,000) 58,459
Net change in fund balances
Fund balance, beginning of
year
Fund balance, end of year
(353,519) (2,357,554) (3,543) 576,176 74,202
2,593,201
$ 2,239,682 $
7,645,781 681,333 1,419,910
$ $ 5,288,227 $ 677,790 $ 1,996,086 $ 74,202
102
Special Revenue Funds
Police Cable Special
Seized Juvenile Glade Parks TIRZ#3 Midtown TIRZ#4 PEG Revenue
Asset Case PID Glade Parks PID Midtown Fees Funds
Fund Fund Fund Fund Fund Fund Fund Totals
$ $ $ - $ 1,950,497 $ $ 951,176 $ $ 2,901,673
- - 47,519 1,745,584
504,190 - 10,875 - 12,517,283
7,902 11,383 118,400 830 - 27,847 552,889
- - 810,336
- - 84,567
56,834 - 134,381 207,048
7,902 68,217 2,573,087 135,211 962,051 75,366 18,819,380
4,184,492
273,521
27,534 10,442 54,272 866,875
19,758 4,178,018
- - 275,837
- - 157,211
33,799 437,100
19,758 27,534 - 10,442 - 88,071 10,373,054
(11,856) 40,683 - 2,573,087 124,769 962,051 (12,705) 8,446,326
63,459
(750,000) (7,313,326) (121,518) (942,504) (16,025,342)
(750,000) (7,313,326) (121,518) (942,504) (15,961,883)
(11,856) 40,683 (750,000) (4,740,239) 3,251 19,547 (12,705) (7,515,557)
190,963 252,130 750,000 6,164,083 (31,972) 1,138,109 669,073 21,472,611
$ 179,107 $ 292,813 $ $ 1,423,844 $ (28,721) $ 1,157,656 $ 656,368 $ 13,957,054
103
CITY OF EULESS, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND
BALANCES - NON -MAJOR GOVERNMENTAL FUNDS - CONTINUED
YEAR ENDED SEPTEMBER 30, 2025
Capital Project Funds
Half -Penny
Sales Tax Developers' Street Redevelopment
CIP Contribution CIP CIP
Fund Fund Fund Fund
Revenues
General property tax $ $ - $ - $ -
Gross receipts tax
General sales tax - - -
Investment income 262,319 130,238 385,920 92,059
Intergovernmental - - -
Rents and royalties - - -
Other revenues 6,750
Total revenues
262,319 136,988 385,920 92,059
Expenditures
Culture and recreation 105,013 978
Development services - - -
General and administrative - - 65,748
Highways and streets - 3,850 -
Public safety - - -
Debt service
Principal - - -
Interest and fiscal charges - - -
Capital outlay 886,960 5,935,138 120,300
Total expenditures 991,973 978 5,938,988 186,048
Excess (deficiency) of revenues
over (under) expenditures (729,654) 136,010 (5,553,068) (93,989)
Other financing sources (uses)
Transfers in 5,208,200 - 1,150,000 1,000,000
Transfers out
Total other
financing sources (uses), net 5,208,200
1,150,000 1,000,000
Net change in fund balances 4,478,546 136,010 (4,403,068) 906,011
Fund balance, beginning of
year 2,893,375 2,776,788 9,251,995 1,147,375
Fund balance, end of year $ 7,371,921 $ 2,912,798 $ 4,848,927 $ 2,053,386
104
Capital Project Funds
TIRZ #4 Car Capital Total
Midtown Midtown Rental Project Non -major
Reserve CIP CIP Funds Governmental
Fund Fund Fund Totals Funds
$ $ - $ - $ - $ 2,901,673
1,745,584
- - 12,517,283
164,258 1,034,794 1,587,683
- - 810,336
- 84,567
6,750 213,798
164,258 1,041,544 19,860,924
105,991 4,290,483
- - 273,521
2,966 - 68,714 935,589
- - 3,850 3,850
- - - 4,178,018
275,837
157,211
97,100 7,039,498 7,476,598
2,966 97,100 7,218,053 17,591,107
(2,966) 67,158 (6,176,509) 2,269,817
5,600,000 12,95 8,200 13,021,659
- (16,025,342)
5,600,000 12,958,200 (3,003,683)
(2,966) 5,667,158
6,781,691 (733,866)
999,725 60,991 166,319 17,296,568 38,769,179
$ 999,725 $ 58,025 $ 5,833,477 $ 24,078,259 $ 38,035,313
105
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -
BUDGET AND ACTUAL
HOTEL / MOTEL SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenue s
Gross receipts tax $ 1,431,275 $ 1,431,275 $ 1,698,065 $ 266,790
Investment income 89,180 89,180 99,717 10,537
Total revenues 1,520,455 1,520,455 1,797,782 277,327
Expenditures
General and administrative
Total expenditures
Excess of revenues
over expenditures
Other financing uses
Transfers out
Total other financing uses
Net change in fund balance
Fund balance, beginning of year
Fund balance, end of year
458,238 736,630
687,147 49,483
458,238 736,630 687,147
1,062,217 783,825 1,110,635
(1,480,797) (1,480,797) (1,464,154)
(1,480,797) (1,480,797)
(418,580) (696,972)
2,593,201
49,483
326,810
16,643
(1,464,154) 16,643
(353,519) 343,453
2,593,201 2,593,201
$ 2,174,621 $ 1,896,229 $ 2,239,682 $ 343,453
106
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -
BUDGET AND ACTUAL
HALF -PENNY SALES TAX SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
General sales tax $ 7,304,483 $ 7,304,483 $ 8,011,985 $ 707,502
Investment income 88,180 88,180 212,077 123,897
Rents and royalties 115,267 115,267 84,567 (30,700)
Total revenues 7,507,930 7,507,930 8,308,629 800,699
Expenditures
Culture and recreation 4,459,637 4,459,637 4,194,270 265,367
Development services 1,157,525 1,157,525 273,521 884,004
General and administrative 549,109 549,109 362,622 186,487
Debt service
Principal 245,000 245,000 249,743 (4,743)
Interest and fiscal charges 157,075 157,075 157,187 (112)
Total expenditures
Excess of revenues
over expenditures
Other financing uses
Transfers out
6,568,346 6,568,346 5,237,343 1,331,003
939,584 939,584 3,071,286 2,131,702
(5,428,840) (5,428,840) (5,428,840) -
Total other financing uses (5,428,840) (5,428,840) (5,428,840)
Net change in fund balance (4,489,256) (4,489,256) (2,357,554) 2,131,702
Ftmd balance, beginning of year 7,645,781 7,645,781 7,645,781
Fund balance, end of year $ 3,156,525 $ 3,156,525 $ 5,288,227 $ 2,131,702
107
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -
BUDGET AND ACTUAL
POLICE DRUG ENFORCEMENT SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
Investment income $ 31,606 $ 31,606 $ 24,875 $ (6,731)
Intergovernmental 15,000 _ 15,000 15,000 -
Total revenues 46,606 46,606 39,875 (6,731)
Expenditures
Public safety 220,000 220,000 48,418 171,582
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
220,000 220,000 48,418 171,582
(173,394) (173,394) (8,543) 164,851
Other fmancing sources
Transfers in 5,000 5,000 5,000
Total other
financing sources
5,000
5,000 5,000
Net change in fund balance (168,394) (168,394) (3,543) 164,851
Fund balance, beginning of year 681,333 681,333 681,333
Fund balance, end of year $ 512,939 $ 512,939 $ 677,790 $ 164,851
108
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES —
BUDGET AND ACTUAL
CRIME CONTROL AND PREVENTION DISTRICT SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
General sales tax $ 3,458,132 $ 3,458,132 $ 3,990,233 $ 532,101
Other revenue 15,833 15,833 15,833 -
Investment income 7,588 7,588 49,858 42,270
Total revenues
Expenditures
Public safety
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
3,481,553 3,481,553 4,055,924
3,653,736 3,692,903 3,474,748
3,653,736 3,692,903
(172,183) (211,350)
574,371
218,155
3,474,748 218,155
581,176 792,526
Other financing uses
Transfers out (5,000) (5,000) (5,000)
Total other
financing uses (5,000) (5,000) (5,000)
Net change in fund balance (177,183) (216,350) 576,176 792,526
Fund balance, beginning of year 1,419,910 1,419,910 1,419,910
Fund balance, end of year $ 1,242,727 $ 1,203,560 $ 1,996,086 $ 792,526
109
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES —
BUDGET AND ACTUAL
ESRO SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
Intergovernmental $ 2,310,000 $ 2,310,000 $ 620,887 $ (1,689,113)
Total revenues 2,310,000 2,310,000 620,887 (1,689,113)
Expenditures
Public safety 2,223,289 2,223,289 594,769 1,628,520
Debt service
Principal 45,791 45,791 26,094 19,697
Interest and fiscal charges - - 24 (24)
Total expenditures 2,269,080 2,269,080 620,887 1,648,193
Net change in fund balance 40,920 40,920 (40,920)
Fund balance, beginning of year - - -
Fund balance, end of year $ 40,920 $ 40,920 $ - $ (40,920)
110
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES —
BUDGET AND ACTUAL
GRANT SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
Intergovernmental $ 1,040,036 $ 1,094,582 $ 174,449 $ (920,133)
Total revenues
Expenditures
Public safety
1,040,036 1,094,582 174,449 (920,133)
1,235,291 1,295,688 158,706 1,136,982
Total expenditures 1,235,291 1,295,688 158,706 1,136,982
Excess (deficiency) of revenues
over (under) expenditures (195,255) (201,106) 15,743 216,849
Other financing sources
Transfers in 195,255 201,106 58,459 (142,647)
Total other financing sources 195,255 201,106 58,459 (142,647)
Net change in fund balance - 74,202 74,202
Fund balance, beginning of year - - -
Fund balance, end of year $ - $ $ 74,202 $ 74,202
111
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES —
BUDGET AND ACTUAL
POLICE SEIZED ASSET SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Revenues
Investment income
Total revenues
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
$ 5,873 $ 5,873 $ 7,902 $ 2,029
5,873 5,873 7,902 2,029
Expenditures
Public safety 51,020 51,020 19,758 31,262
Total expenditures 51,020 51,020 19,758 31,262
Net change in fund balance (45,147) (45,147) (11,856) 33,291
Fund balance, beginning of year 190,963 190,963 190,963
Fund balance, end of year $ 145,816 $ 145,816 $ 179,107 $ 33,291
112
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES -
BUDGET AND ACTUAL
JUVENILE CASE SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
Investment income $ 8,406 $ 8,406 $ 11,383 $ 2,977
Other revenues 44,225 44,225 56,834 12,609
Total revenues
Expenditures
General and administrative
52,631 52,631 68,217 15,586
39,860 39,860
27,534 12,326
Total expenditures 39,860 39,860 27,534 12,326
Net change in fund balance 12,771 12,771 40,683 27,912
Fund balance, beginning of year 252,130 252,130 252,130
Fund balance, end of year $ 264,901 $ 264,901 $ 292,813 $ 27,912
113
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES —
BUDGET AND ACTUAL
GLADE PARKS PID FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Other financing uses
Transfers out $ (750,000) $ (750,000) _ $ (750,000) $
Total other financing uses (750,000) (750,000) (750,000) -
Net change in fund balance (750,000) (750,000) (750,000)
Fund balance, beginning of year 750,000 750,000 750,000
Fund balance, end of year
114
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES —
BUDGET AND ACTUAL
TIRZ #3 GLADE PARKS SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
General property tax $ 2,063,275 $ 2,063,275 $ 1,950,497 $ (112,778)
General sales tax 479,664 479,664 504,190 24,526
Investment income 196,089 196,089 118,400 (77,689)
Total revenues 2,739,028 2,739,028 2,573,087 (165,941)
Other financing uses
Transfers out (7,454,308) (7,559,308) (7,313,326) 245,982
Total other financing uses (7,454,308) (7,559,308) (7,313,326) 245,982
Net change in fund balance (4,715,280) (4,820,280) (4,740,239) 80,041
Fund balance, beginning of year 6,164,083 6,164,083 6,164,083
Fund balance, end of year $ 1,448,803 $ 1,343,803 $ 1,423,844 $ 80,041
115
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES —
BUDGET AND ACTUAL
MIDTOWN PID SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
Other revenues $ 158,518 $ 158,518 $ 134,381 $ (24,137)
Investment income 2,304 2,304 830 (1,474)
Total revenues
160,822 160,822
135,211 (25,611)
Expenditures
General and administrative 37,000 37,000 10,442 26,558
Total expenditures 37,000 37,000 10,442 26,558
Excess of revenues
over expenditures 123,822 123,822 124,769 947
Other financing uses
Transfers out (121,518) (121,518) (121,518)
Total other financing uses (121,518) (121,518) (121,518)
Net change in fund balance 2,304 2,304 3,251 947
Fund balance, beginning of year (31,972) (31,972) (31,972) -
Fund balance, end of year S (29,668) $ (29,668) $ (28,721) $ 947
116
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES —
BUDGET AND ACTUAL
TIRZ #4 MIDTOWN SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
Property tax revenues $ 985,360 $ 985,360 $ 951,176 $ (34,184)
General sales tax 11,525 11,525 10,875 (650)
Total revenues
996,885 996,885 962,051 (34,834)
Other financing uses
Transfers out (942,504) (942,504) (942,504)
Total other financing uses (942,504) (942,504) (942,504)
Net change in fund balance 54,381 54,381 19,547 (34,834)
Fund balance, beginning of year 1,138,109 1,138,109 1,138,109
Fund balance, end of year $ 1,192,490 $ 1,192,490 $ 1,157,656 $ (34,834)
117
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES —
BUDGET AND ACTUAL
CABLE PEG FEES SPECIAL REVENUE FUND
YEAR ENDED SEPTEMBER 30, 2025
Variance with
Actual Final Budget
Budgeted Amounts GAAP Positive
Original Final Basis (Negative)
Revenues
Gross receipts tax $ 56,585 $ 56,585 $ 47,519 $ (9,066)
Investment income 20,343 20,343 27,847 7,504
Total revenues
Expenditures
General and administrative
Capital outlay
Total expenditures
Net change in fund balance
Fund balance, beginning of year
Fund balance, end of year
76,928 76,928
75,366 (1,562)
- 54,272 (54,272)
99,600 99,600 33,799 65,801
99,600 99,600
88,071 11,529
(22,672) (22,672)
669,073
(12,705) 9,967
669,073 669,073
$ 646,401 $ 646,401 $ 656,368 $ 9,967
118
INTERNAL SERVICE FUNDS
Internal service funds are used to account for the financing of goods or services provided by one
department to other departments of the City on a cost reimbursement basis.
Equipment Replacement Fund — to account for the accumulation of funds to be used for
replacement of existing equipment. Funding is provided annually by the user departments.
Insurance Fund — to account for the revenues and expenses resulting from providing health
insurance to the City's employees.
Risk Management/Workers' Compensation (Risk/WC) Fund — to account for the revenue
and expenses applicable to providing workers' compensation coverage for all City
employees, as well as, general liability and property coverage.
119
CITY OF EULESS, TEXAS
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2025
ASSETS
Current Assets
Deposits and investments
Accounts receivable
Prepaid expenses
Accrued interest receivable
Total current assets
Non -current Assets
Property, plant, and equipment, at cost
Equipment
Less accumulated depreciation
Net property, plant, and equipment
Total assets
LIABILITIES
Current Liabilities
Accounts payable
Accrued salary and wages
Current portion of compensated absences
Accrued insurance claims
Equipment
Replace me nt
Fund
Insurance
Fund
Risk/WC
Fund
Total
$ 26,752,745
5,000
1,004,989
218,251
$ 8,495,398 $ 3,445,421
478,793 102,277
3,138
42,958 3,028
$ 38,693,564
586,070
1,008,127
264,237
27,980,985 9,020,287 3,550,726 40,551,998
24,137,527
13,928,648
107,568 24,245,095
73,654 14,002,302
10,208,879
33,914 10,242,793
38,189,864 9,020,287
45,751
34,804
5,166
3,227
870,000
3,584,640 50,794,791
285,220
6,570
4,404
365,775
11,736
7,631
870,000
Total current liabilities 45,751 913,197
Non -current Liabilities
Compensated absences 3,070
Total non -current liabilities - 3,070
Total liabilities 45,751 916,267
NET POSITION
Net investment in capital assets
Unrestricted
10,208,879
27,935,234
296,194
5,605
5,605
301,799
- 33,914
8,104,020 3,248,927
1,255,142
8,675
8,675
1,263,817
10,242,793
39,288,181
Total net position $ 38,144,113 $ 8,104,020 $ 3,282,841 $ 49,530,974
120
CITY OF EULESS, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES
IN NET POSITION
INTERNAL SERVICE FUNDS
YEAR ENDED SEPTEMBER 30, 2025
Equipment
Replacement Insurance Risk/WC
Fund Fund Fund
Total
Operating revenues
Insurance premiums $ - $ 7,688,845 $ 524,605 $ 8,213,450
Service fees and miscellaneous 4,851,058 1,472,014 - 6,323,072
Total operating revenues 4,851,058 9,160,859 524,605 14,536,522
Operating expenses
General and administrative 573,652 2,285,523 119,098 2,978,273
Insurance costs - 7,120,140 1,243,888 8,364,028
Depreciation 2,256,780 - 9,994 2,266,774
Total operating expenses 2,830,432 9,405,663 1,372,980 13,609,075
Operating income (loss) 2,020,626 (244,804) (848,375) 927,447
Nonoperating revenues
Gain on sale of capital assets 443,691 - - 443,691
Investment income 1,179,131 363,562 126,961 1,669,654
Total nonoperatingrevenues 1,622,822 363,562 126,961 2,113,345
Income (loss) before transfers 3,643,448 118,758 (721,414) 3,040,792
Transfers
Transfers in 1,116,104 - 900,000 2,016,104
Total transfers 1,116,104 900,000 2,016,104
Change in net position 4,759,552 118,758 178,586 5,056,896
Net position, beginning of year 33,384,561 7,985,262 _ 3,104,255 44,474,078
Net position, end of year $ 38,144,113 $ 8,104,020 $ 3,282,841 $ 49,530,974
121
CITY OF EULESS, TEXAS
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
YEAR ENDED SEPTEMBER 30, 2025
Equipment
Replacement Insurance Risk/WC
Fund Fund Fund
Total
OPERATING ACTIVITIES
Cash received from customers $ 4,846,058 $ 9,217,551 $ 595,563 $ 14,659,172
Cash payments to suppliers for goods and services (1,098,653) (9,160,656) (1,267,205) (11,526,514)
Cash payments to employees for services (101,175) (84,898) (186,073)
Net cash provided by (used in) operating activities
3,747,405 (44,280) (756,540) 2,946,585
NONCAPITAL FINANCING ACTIVITIES
Transfers in 1,116,104 900,000 2,016,104
Net cash provided by noncapital financing activities 1,116,104 900,000 2,016,104
CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition/construction of capital assets (4,812,546) (4,812,546)
Proceeds from sale of capital assets 479,338 479,338
Net cash used in capital and related financing activities
INVESTING ACTIVITIES
Interest received on investments
(4,333,208) (4,333,208)
1,191,066 386,302 133,239 1,710,607
Net cash provided by investing activities 1,191,066 386,302 133,239 1,710,607
Net change in cash and cash equivalents 1,721,367 342,022 276,699 2,340,088
Cash and cash equivalents, beginning of year 25,031,378 8,153,376 3,168,722 36,353,476
Cash and cash equivalents, end of year $ 26,752,745 $ 8,495,398 $ 3,445,421 $ 38,693,564
Reconciliation of operating income (loss) to net
cash provided by (used in) operating activities
Operating income (loss) $ 2,020,626 $ (244,804) $ (848,375) $ 927,447
Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities
Depreciation expense 2,256,780 9,994 2,266,774
Changes in assets and liabilities
Receivables (5,000) 56,692 70,958 122,650
Prepaids (225,918) (3,138) - (229,056)
Accounts payable (299,083) (97,038) 2,929 (393,192)
Accrued salaries and wages 7,009 7,954 14,963
Accrued insurance claims 236,999 236,999
Net cash provided by (used in) operating activities $ 3,747,405 $ (44,280) $ (756,540) $ 2,946,585
Reconciliation of cash to balance sheet:
Cash- current $ 26,752,745 $ 8,495,398 $ 3,445,421 $ 38,693,564
Cash and cash equivalents $ 26,752,745 $ 8,495,398 $ 3,445,421 $ 38,693,564
122
STATISTICAL SECTION
(Unaudited)
STATISTICAL SECTION
(Unaudited)
The statistical section of the City of Euless' annual comprehensive financial report presents detailed
information as a context for understanding what the information in the financial statements, note
disclosures, and required supplementary information says about the City's overall financial health.
Contents Tables
Financial Trends
The financial trend schedules contain trend information to help the reader
understand how the City's financial performance and well-being have changed
over time.
Revenue Capacity
The revenue capacity schedules contain information to help the reader assess
the City's most significant local revenue source, the property tax.
Debt Capacity
The debt capacity schedules present information to help the reader assess
the affordability of the City's current level of outstanding debt (including that
of its blended component units) and the City's ability to issue additional
debt in the future.
Demographic and Economic Information
The demographic and economic schedules offer demographic and economic
indicators to help the reader understand the environment within which
the City's financial activities occur.
Operating Information
The operating information schedules contain service and infrastructure data
to help the reader understand how the information in the City's financial
report relates to the services it provides and the activities it performs.
1-4
5-8
9-12
13-14
15-17
124
Governmental activities
Net investment in capital assets
Restricted
Unrestricted
Total governmental activities net position
Business -type activities
Net investment in capital assets
Restricted for debt service
Restricted for capital projects
Restricted for impact fees
Unrestricted
Total business -type activities net position
Primary govemment
Net investment in capital assets
Restricted
Unrestricted
Total primary government net position
CITY OF EULESS, TEXAS
NET POSITION BY COMPONENT — LAST TEN FISCAL YEARS
(Accrual Basis of Accounting — Unaudited)
Table 1
2016 2017 2018 2019 2020 2021 2022 2023 2024
2025
$ 108,135,655 $ 113,509,089 $ 112,710,338 $ 99,744,023 $ 104,018,729 $ 130,459,839 $ 123,862,163 $ 130,728,192
17,508,943 10,293,057 13,620,993 26,158,342 30,103,225 7,441,090 7,579,559 8,185,722
3,610,521 12,466,943 10,698,663 18,071,669 25,147,659 37,117,415 60,034,944 70,572,250
$ 129,255,119 $ 136,269,089 $ 137,029,994 $ 143,974,034 $ 159,269,613 $ 175,018,344 $ 191,476,666 $ 209,486,164
$ 133,199,143 $167,340,305
9,032,712 8,453,011
94,336,872 92,829,449
$ 236,568,727 $ 268,622,765
$ 59,184,256 $ 62,421,284 $ 63,283,054 $ 65,621,697 $ 66,554,698 $ 64,950,870 $ 73,306,877 $ 72,764,199 $ 78,063,094 $86,841,468
733,164 733,264 1,018,037 1,426,830 1,425,701 1,426,103 1,348,929 1,348,271 1,331,015 1,311,479
4,265,268 1,166,442 3,962,644 10,646,450 4,256,167 - - - - -
1,980,150 2,467,095 2,895,677 3,047,942 3,010,687 3,247,897 3,234,445 3,310,647 3,543,589 3,881,472
11,122,601 14,528,797 12,286,319 7,130,279 14,728,131 23,441,214 26,895,689 29,510,603 32,455,879 33,891,219
$ 77,285,439 $ 81,316,882 $ 83,445,731 S 87,873,198 S 89,975,384 S 93,066,084 S 104,785,940 S 106,933,720 $ 115,393,577 S 125,925,638
$ 167,319,911 $ 175,930,373 $ 175,993,392 $ 165,365,720 $ 170,573,427 $ 195,410,709 $ 197,169,040 $ 203,492,391
24,487,525 14,659,858 21,497,351 41,279,564 38,795,780 12,115,090 12,162,933 12,844,640
14,733,122 26,995,740 22,984,982 25,201,948 39,875,790 60,558,629 86,930,633 100,082,853
$ 206,540,558 $ 217,585,971 $ 220,475,725 $ 231,847,232 $ 249,244,997 $ 268,084,428 $ 296,262,606 $ 316,419,884
Source: Annual Comprehensive Financial Reports
125
$ 211,262,237
13,907,316
126,792,751
$ 351,962,304
$ 254,181,773
13,645,962
126,720,668
$ 394,548,403
CITY OF EULESS, TEXAS
CHANGES IN NET POSITION - LAST TEN FISCAL YEARS
(Accrual Basis of Accounting - Unaudited)
Table 2
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Expenses
Governmental activities:
Culture and recreation $ 6,998,904 $ 7,349,035 $ 7,070,484 $ 7,330,168 $ 5,538,905 $ 6,890,021 $ 7,714,207 $ 8,016,590 $ 8,564,660 $ 9,713,145
Development services 918,214 999,153 1,038,328 1,057,414 1,062,784 903,633 934,100 1,304,416 1,283,753 1,886,805
General and administrative 20,722,236 20,816,148 21,356,342 21,112,696 20,827,914 20,604,298 24,293,764 31,849,368 28,888,669 29,657,656
Highways and streets 3,708,184 4,143,412 3,787,336 7,193,189 3,601,998 3,905,567 4,015,628 4,591,037 4,765,479 5,037,137
Public safety 26,673,966 28,265,072 27,424,253 30,352,705 27,354,689 27,489,405 27,379,929 33,625,098 33,776,738 39,199,884
Interest on long-term debt 1,807,001 1,502,912 1,632,302 2,010,814 2,560,933 2,507,261 2,417,173 2,414,153 2,912,405 2,732,355
Total governmental activities expenses 60,828,505 63,075,732 62,309,045 69,056,986 60,947,223 62,300,185 66,754,801 81,800,662 80,191,704 88,226,982
Business -type activities:
Water and wastewater 21,009,701 21,673,844 23,225,786 23,493,321 25,333,182 24,823,460 26,754,590 29,142,646 31,566,816 33,065,992
Drainage utility 1,414,483 1,396,736 1,515,183 1,563,021 1,502,275 1,571,836 1,517,199 1,746,667 1,594,990 1,678,417
Golf 4,409,773 4,632,475 4,764,095 4,731,810 3,997,255 4,201,337 4,703,615 5,330,321 5,741,319 6,100,845
Other recreation enterprises 2,211,065 2,321,414 2,416,337 2,270,768 1,491,533 1,568,441 2,024,308 2,025,933 2,224,471 2,461,108
Total business -type activities expenses 29,045,022 30,024,469 31,921,401 32,058,920 32,324,245 32,165,074 34,999,712 38,245,567 41,127,596 43,306,362
Total primary government expenses
89,873,527 93,100,201 94,230,446 101,115,906 93,271,468 94,465,259 101,754,513 120,046,229 121,319,300 131,533,344
Program Revenues
Governmental activities:
Fees, fines, and charges for services
Culture and recreation 291,349 264,307 252,000 266,091 10,124 295,097 319,544 293,667 305,064 282,656
Development services 1,717,416 2,019,496 1,875,120 2,133,420 1,697,637 1,578,146 1,149,319 1,144,743 2,471,248 6,333,849
General and administrative 1,285,797 1,156,745 1,066,075 861,929 1,067,485 687,136 787,552 62,769 713,362 797,603
Highways and streets 350,920 607,588 988,302 1,114,507 1,075,865 982,070 717,124 287,767 261,316 134,381
Public safety 3,383,743 3,151,407 3,104,895 2,541,205 2,288,377 2,325,458 3,200,585 5,015,159 3,774,206 4,631,736
Operating grants and contributions 578,007 592,870 740,969 622,061 3,594,939 810,821 1,054,703 1,163,344 578,988 547,205
Capital grants and contributions 3,375,733 2,356,556 2,354,450 1,304,420 2,190,770 396,317 550,799 530,101 850,710 7,423,137
Total governmental activities program revenues 10,982,965 10,148,969 10,381,811 8,843,633 11,925,197 7,075,045 7,779,626 8,497,550 8,954,894 20,150,567
Business -type activities:
Charges for services
Water and wastewater 23,759,236 24,178,812 27,504,814 26,400,731 26,934,154 28,571,921 29,412,986 30,852,319 33,255,251 33,758,452
Drainage utility 725,152 730,202 818,622 826,711 833,890 842,003 1,193,159 958,637 945,588 1,255,830
Golf 4,187,728 4,247,345 4,337,003 4,067,026 3,363,915 4,350,610 5,131,494 5,159,600 4,558,952 3,530,639
Other recreation enterprises 2,059,413 2,168,944 2,123,825 2,197,926 884,286 1,433,139 1,905,434 2,001,970 2,158,949 2,281,292
Operating grants and contributions - - - - - - 949,068 - - -
Capital grants and contributions 2,943,188 2,280,769 1,729,219 3,058,291 2,677,913 1,002,393 1,254,532 1,018,715 7,446,265 9,623,785
Total business -type activities program revenues 33,674,717 33,606,072 36,513,483 36,550,685 34,694,158 36,200,066 39,846,673 39,991,241 48,365,005 50,449,998
Total primary government program revenues
44,657,682 43,755,041 46,895,294 45,394,318 46,619,355 43,275,111 47,626,299 48,488,791 57,319,899 70,600,565
(Continued) (Continued) (Continued) (Continued) (Continued) (Continued) (Continued) (Continued) (Continued) (Continued)
126
CITY OF EULESS, TEXAS
CHANGES IN NET POSITION - LAST TEN FISCAL YEARS
(Accrual Basis of Accounting - Unaudited) - Continued
Table 2
Net (Expense) Revenue
Governmental activities $ (49,845,540) $ (52,926,763) $ (51,927,234) $ (60,213,353) $ (49,022,026) $ (55,225,140) $ (58,975,175) $ (73,303,112) $(71,236,810) $ (68,076,415)
Business -type activities 4,629,695 3,581,603 4,592,082 4,491,765 2,369,913 4,034,992 4,846,961 1,745,674 7,237,409 7,143,636
Total primary government net expense (45,215,845) (49,345,160) (47,335,152) (55,721,588) (46,652,113) (51,190,148) (54,128,214) (71,557,438) (63,999,401) (60,932,779)
General Revenues
and Other Changes in Net Position
Goveuni ntal activities:
Taxes
Property taxes 14,752,044 16,656,028 18,630,301 20,428,821 22,837,075 24,195,500 24,974,349 27,569,306 30,132,666 31,876,634
Sales taxes 20,364,878 21,252,491 20,728,210 21,419,831 22,088,364 24,373,082 28,693,421 29,778,805 29,309,986 32,032,179
Car rental taxes 14,842,109 14,401,763 14,776,566 14,797,320 10,042,659 13,062,591 18,372,898 18,709,978 20,228,890 20,255,173
Mixed beverage taxes 101,503 128,250 154,035 138,219 146,188 171,687 201,348 215,340 213,322 258,974
Hotel/motel occupancy taxes 696,805 798,905 864,829 841,588 924,551 1,182,845 1,736,088 1,829,672 1,655,528 1,698,065
Gross receipts taxes 4,467,535 4,455,137 4,811,119 4,549,026 4,238,664 4,221,250 4,478,146 4,633,488 4,673,962 4,700,183
Investment income 271,786 451,406 963,670 1,882,696 1,054,661 123,646 804,074 5,180,191 8,706,659 7,610,517
Rents and royalties 1,105,829 1,149,534 1,223,788 1,348,465 1,462,429 1,574,739 1,567,269 1,345,885 1,144,401 1,423,846
Gain on sale of assets - 124,792 - - - - -
Miscellaneous 692,939 755,996 772,773 930,764 971,040 1,081,893 1,304,396 1,354,694 1,768,534 2,156,954
Transfers (703,751) (233,569) 760,590 820,663 551,974 986,638 (6,698,492) 695,251 485,425 (1,882,072)
Total governmental activities 56,591,677 59,940,733 63,685,881 67,157,393 64,317,605 70,973,871 75,433,497 91,312,610 98,319,373 100,130,453
Business -type activities:
Investment income 104,618 158,805 385,513 746,865 368,999 42,346 174,403 1,097,357 1,707,873 1,506,353
Gain on disposal of assets 13,185 57,466 2,873 9,500 (84,752) - - -
Transfers 703,751 233,569 (760,590) (820,663) (551,974) (986,638) 6,698,492 (695,251) (485,425) 1,882,072
Total business -type activities 821,554 449,840 (372,204) (64,298) (267,727) (944,292) 6,872,895 402,106 1,222,448 3,388,425
Total primary goveum,ent
57,413,231 60,390,573 63,313,677 67,093,095 64,049,878 70,029,579 82,306,392 91,714,716 99,541,821 103,518,878
Change in Net Position
Governmental activities 6,746,137 7,013,970 11,758,647 6,944,040 15,295,579 15,748,731 16,458,322 18,009,498 27,082,563 32,054,038
Business -type activities 5,451,249 4,031,443 4,219,878 4,427,467 2,102,186 3,090,700 11,719,856 2,147,780 8,459,857 10,532,061
Total primary government $ 12,197,386 $ 11,045,413 $ 15,978,525 $ 11,371,507 $ 17,397,765 $ 18,839,431 $ 28,178,178 $ 20,157,278 $ 35,542,420 $ 42,586,099
(concluded) (concluded) (concluded) (concluded) (concluded) (concluded) (concluded) (concluded) (concluded) (concluded)
Source: Annual Comprehensive Financial Reports
127
CITY OF EULESS, TEXAS
FUND BALANCES, GOVERNMENTAL FUNDS - LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting - Unaudited)
Table 3
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
General Fund
Nonspendable $ 35,250 $ 52,050 $ 51,409 $ 74,835 $ 158,975 $ 223,609 $ 113,090 $ 257,194 $ 178,415 $ 162,438
Restricted 121,041 104,340 125,753 132,954 123,748 117,674 108,919 111,942 151,992 224,896
Assigned 113,655 107,657 121,708 135,720 145,057 164,801 187,649 203,295 207,125 210,748
Unreserved/Unassigned 11,973,524 13,185,421 14,255,823 16,630,106 19,790,726 20,240,670 24,896,247 23,803,270 22,771,542 29,343,626
Total general fund $ 12,243,470 $ 13,449,468 $ 14,554,693 $ 16,973,615 $ 20,218,506 $ 20,746,754 $ 25,305,905 $ 24,375,701 $ 23,309,074 $ 29,941,708
All Other Governmental Funds
Nonspendable $ 7,738 $ 22,028 $ 12,427 $ $ 24,873 $ 1,086 $ 15,655 $ 12,219 $ 83,672 $ 68,741
Restricted for:
Debt service 1,995,548 2,285,719 2,765,013 3,429,240 3,828,633 4,316,041 4,405,396 4,884,252 5,127,305 4,368,968
Capital projects 12,715,424 4,985,922 7,501,009 19,287,010 22,369,460 18,996,535 15,184,734 36,154,995 27,607,196 10,820,938
Other 2,718,045 2,952,158 3,229,218 3,309,138 3,081,384 3,007,375 3,065,244 3,125,843 3,695,399 3,859,147
Assigned 12,541,184 14,730,171 21,356,289 19,461,628 17,221,925 22,761,358 32,889,510 41,397,028 56,848,383 56,237,515
Unassigned (31,972) (28,721)
Total all other governmental funds $ 29,977,939 $ 24,975,998 $ 34,863,956 $ 45,487,016 $ 46,526,275 $ 49,082,395 $ 55,560,539 $ 85,574,337 $ 93,329,983 $ 75,326,588
Source: Annual Comprehensive Financial Reports
128
CITY OF EULESS, TEXAS
CHANGES IN FUND BALANCES, GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting - Unaudited)
Table 4
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Revenues:
Property tax $ 14,771,632 $ 16,674,673 $ 18,652,639 $ 20,408,581 $ 22,736,528 $ 24,144,693 $ 25,236,242 $ 27,594,201 $ 30,192,010 $ 31,686,811
Gross receipts tax 5,265,843 5,382,292 5,829,983 5,528,832 5,309,401 5,575,782 6,415,583 6,678,500 6,542,812 6,657,222
Sales tax 20,364,878 21,252,491 20,728,209 21,419,831 22,088,364 24,373,083 28,693,421 29,778,805 29,309,986 32,032,179
Car rental tax 14,842,109 14,401,763 14,776,566 14,797,320 10,042,659 13,062,591 18,372,898 18,709,978 20,228,890 20,255,173
Fines and fees 4,461,439 3,961,369 3,806,964 3,313,059 2,835,050 2,702,221 3,652,725 3,521,246 4,222,869 5,150,784
Licenses and permits 1,682,431 1,997,082 1,847,315 2,105,716 1,673,143 1,552,088 1,127,642 1,117,424 2,333,992 6,295,717
Investment income 237,949 385,769 821,642 1,623,907 869,827 103,170 711,952 4,174,317 7,048,574 5,940,865
Drug enforcement revenues 18,274 9,994 2,656 18,353 13,678 117,144 42,175 35,377 156,853 -
Intergovernmental 507,966 1,490,142 813,633 629,332 3,738,184 793,091 1,039,952 3,107,263 801,557 1,351,012
Rents and royalties 612,365 628,486 668,036 635,553 635,464 711,814 620,575 577,890 578,153 1,331,861
Other revenues 1,943,007 1,996,374 2,217,797 2,362,730 2,387,958 2,125,528 2,574,468 1,589,138 2,165,024 698,444
Total Revenues 64,707,893 68,180,435 70,165,440 72,843,214 72,330,256 75,261,205 88,487,633 96,884,139 103,580,720 111,400,068
Expenditures:
Culture and recreation 6,023,057 6,324,436 6,372,535 6,258,492 6,785,529 6,120,370 7,335,273 7,241,266 7,710,734 8,408,458
Development services 862,571 931,119 1,036,278 1,001,587 1,065,028 924,919 993,827 1,187,377 1,311,747 1,799,955
General and administrative 18,975,116 18,985,489 19,790,021 19,038,500 18,727,050 19,881,563 22,755,689 28,851,315 25,118,702 27,072,664
Highways and streets 1,688,714 1,616,714 1,222,905 4,555,735 1,322,786 1,180,954 1,528,043 1,949,997 1,949,929 1,856,513
Public safety 24,698,550 26,068,993 26,977,362 27,738,238 28,322,488 28,534,814 30,662,083 32,871,946 34,924,013 36,617,468
Debt Service:
Principal 3,530,000 3,848,825 4,761,697 4,828,848 4,605,000 4,635,000 4,631,897 6,036,322 6,606,130 12,661,578
Interest and fiscal charges 1,743,450 1,516,936 1,662,399 1,943,495 2,627,550 2,462,387 2,432,243 2,565,221 2,924,527 2,789,842
Issuance costs - - - -
Capital outlay 14,871,624 10,600,631 6,839,864 8,979,048 16,839,574 14,879,407 15,714,436 9,220,011 18,421,645 28,249,479
Total expenditures 72,393,082 69,893,143 68,663,061 74,343,943 80,295,005 78,619,414 86,053,491 89,923,455 98,967,427 119,455,957
Excess (deficiency) of revenues
over (under) expenditures
(7,685,189) (1,712,708) 1,502,379 (1,500,729) (7,964,749) (3,358,209) 2,434,142 6,960,684 4,613,293 (8,055,889)
Other Financing Sources (Uses):
Issuance of lease 249,370 259,697 - - -
Issuance ofsubscription debt - - 337,794 1,046,792 121,954
Issuance of debt 20,760,000 9,805,000 13,420,000 12,345,000 6,985,000 7,660,000 20,620,000 - -
Payment of escrow for refunding - - -
Premiums onissuance of debt 403,354 264,116 869,936 524,348 401,414 - 1,630,433 - -
Proceeds from sale of assets - 23,513 25,625 118,830 20,525 199,400 61,913 8,650 11,350
Transfers in 7,468,038 8,845,061 13,942,847 11,040,601 10,122,378 8,193,943 11,857,126 13,373,428 25,085,615 29,633,466
Transfers out (9,083,041) (11,177,666) (14,544,672) (10,813,451) (10,861,657) (9,158,305) (11,373,070) (13,900,658) (24,065,331) (33,081,642)
Total other financing sources 19,548,351 (2,083,235) 9,490,804 14,542,711 12,248,899 6,442,577 8,603,153 22,122,910 2,075,726 (3,314,872)
Net change in fund balances
Debt service as a percentage
ofnoncapital expenditures
$ 11,863,162 $ (3,795,943), $ 10,993,183 $ 13,041,982 $ 4,284,150 $ 3,084,368 $ 11,037,295 $ 29,083,594 $ 6,689,019 $ (11,370,761)
Source: Annual Comprehensive Financial Reports
9.2% 9.0% 10.4% 10.4% 11.4% 11.1% 10.0% 10.7% 11.8% 16.9%
129
Fiscal
Year
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
CITY OF EULESS, TEXAS
ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY — LAST TEN FISCAL YEARS
(Unaudited)
Estimated Value
Real
Property
$ 3,352,029,682
3,470,371,005
3,922,338,493
4,353,413,236
4,877,396,769
5,160,656,914
5,445,666,114
6,024,406,774
6,651,035,261
7,103,090,364
Source: Tarrant Appraisal District
Personal
Property
$ 513,118,652
531,751,946
564,286,167
576,907,417
628,387,146
666,521,372
637,973,264
734,267,287
872,086,428
1 ,044,939,782
Total
Value
Less:
Tax -Exempt
Property
$ 3,865,148,334 $ 410,557,810
4,002,122,951 450,853,105
4,486,624,660 492,318,425
4,930,320,653 549,709,999
5,505,783,915 599,654,547
5,827,178,286 631,904,229
6,083,639,378 768,537,626
6,758,674,061 810, 917, 542
7,523,121,689 868,672,694
8,148,030,146 1,009,121,470
130
Total Taxable
Value
$ 3,454,590,524
3,551,269,846
3,994,306,235
4,380,610,654
4,906,129,368
5,195,274,057
5,315,101,752
5,947,756,519
6,654,448,995
7,1 38,908,676
Table 5
Total
Direct
Tax
Rate
0.467500
0.462500
0.462500
0.462500
0.462500
0.462500
0.475000
0.460000
0.457500
0.446700
CITY OF EULESS, TEXAS
DIRECT AND OVERLAPPING PROPERTY TAX RATES (per $100 of Assessed Value) - LAST TEN FISCAL YEARS
(Unaudited)
City Direct Rates Overlapping Rates
Table 6
General Grapevine- Tarrant County Tarrant County
Fiscal Operating / Obligation Debt Hurst -Euless- Colleyville Hospital College
Year General Rate Service Total Direct Rate Bedford ISD ISD Tarrant County District District
2016 0.366571 0.100929 0.467500 1.3500 1.3201 0.2640 0.2279 0.1495
2017 0.363053 0.099447 0.462500 1.3160 1.3967 0.2540 0.2279 0.1447
2018 0.361056 0.101444 0.462500 1.2630 1.3967 0.2440 0.2244 0.1401
2019 0.371710 0.090790 0.462500 1.2730 1.3967 0.2340 0.2244 0.1361
2020 0.377974 0.084526 0.462500 1.2200 1.3267 0.2340 0.2244 0.1302
2021 0.381954 0.080546 0.462500 1.1980 1.3031 0.2340 0.2244 * 0.1302
2022 0.402888 0.072112 0.475000 1.1608 1.2751 0.2290 0.2244 0.1302
2023 0.370847 0.089153 0.460000 1.1098 1.1308 0.2240 0.2244 0.1302
2024 0.362697 0.094803 0.457500 0.9211 0.9247 0.1945 0.1945 0.1122
2025 0.365289 0.081411 0.446700 1.0289 0.8686 0.1875 0.1875 0.1123
Sources: City of Euless Budget Office, Tarrant Appraisal District
* Corrected in FY2024
131
CITY OF EULESS, TEXAS
PRINCIPAL PROPERTY TAXPAYERS
Current Year and Nine Years Ago
(Unaudited)
Fiscal Year 2025
Taxpayer
EAN Holdings LLC
Westdale Hills 2013 LP
Stoneleigh at Bear Creek Apts/Fountain Wood Apts LLC
Star Monticello LLC/Star Kensington LLC
Avis Budget Car Rental, LLC
1045 Edge LLC
BVA Glade SPE J 1.0
Creekwood Trinity Union T 1.0
CH RealtyIX-Knightvest MF Dallas Mandolin Owner LP
Oakmont of Bear Creek LLC/Parkside on the Creek LLC
Total
Source: Tarrant County Tax Office
Taxable
Assessed
Value
$174,056,333
143,814,131
136,300,000
127,900,000
124,414,719
118,300,000
114,030,843
110,800,000
109,000,000
105,800,000
$ 1,264,416,026
Percentage
of Total City
Taxable
Assessed
Value (1)
Table 7
Fiscal Year 2016
Taxpayer
2.38 % EAN Holdings, LLC
1.97 CH Realty VI/MF Colleyville 280 LP
1.86 Westdale Hills 2013 LP
1.75 UDR The Mandolin, LLC
1.70 LSREF3 Bravo (Dallas) LLC
1.62 Stoneligh at Bear Creek Apts.
1.56 AT&T Mobility, LLC
1.52 AP WP Vineyard Reit, LLC
1.49 AP WP Seramont Reit, LLC
1.45 CMF 15 Portfolio LLC
17.30 % Total
Notes:
(1) Total Taxable Value including real and personal property for tax year 2024 (fiscal year 2025) is $7,309,358,692.
(2) Total Taxable Value including real and personal property for tax year 2015 (fiscal year 2016) is $3,454,590,524.
132
Taxable
Assessed
Value
$80,436,972
70,000,000
56,777,649
55,219,730
52,560,000
49,747,562
45,106,267
45,070,127
44,435,528
42,295,050
$ 541,648,885
Percentage
of Total City
Taxable
Assessed
Value (2)
2.33 %
2.03
1.64
1.60
1.52
1.44
1.31
1.30
1.29
1.22
15.68 %
CITY OF EULESS, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS — LAST TEN FISCAL YEARS
(Unaudited)
Taxes Levied Adjustments Adjusted
Within the to Levy in Taxes Levied
Fiscal Fiscal Year Subsequent for the
Year of the Levy Years Fiscal Year
Collected within the
Fiscal Year of the Levy
Amount
Collections
Percentage in Subsequent
of Levy Years
Table 8
Total Collection Delinquent Taxes
Amount
Percentage
of Levy
Amount
Percentage
of Levy
2016 $ 13,671,980 $ 870,928 $ 14,542,908 $ 14,481,033 99.57% $ 47,343 $ 14,528,376 99.90% $ 14,532 0.10%
2017 15,828,162 378,113 16,206,275 16,191,555 99.91% 1,087 16,192,642 99.92% 13,633 0.08%
2018 18,199,497 (43,030) 18,156,467 18,131,429 99.86% 11,511 18,142,940 99.93% 13,527 0.07%
2019 19,850,820 (62,056) 19,788,764 19,769,021 99.90% (222) 19,768,799 99.90% 19,965 0.10%
2020 22,134,132 (149,576) 21,984,556 21,970,578 99.94% (18,676) 21,951,902 99.85% 32,654 0.15%
2021 23,340,538 (187,331) 23,153,207 23,180,576 100.12% (58,366) 23,122,210 99.87% 30,997 0.13%
2022 24,283,254 (172,093) 24,111,161 24,176,819 100.27% (100,838) 24,075,981 99.85% 35,180 0.15%
2023 26,481,396 (211,533) 26,269,863 26,384,135 100.43% (185,319) 26,198,816 99.73% 71,047 0.27%
2024 29,363,359 (67,249) 29,296,110 29,327,018 100.11% (134,814) 29,192,204 99.65% 103,906 0.36%
2025 30,649,147 30,649,147 30,520,511 99.58% - 30,520,511 99.58% 128,636 0.42%
Source: Tarrant County Tax Office and Tarrant Appraisal District
133
CITY OF EULESS, TEXAS
RATIO OF OUTSTANDING DEBT BY TYPE - LAST TEN FISCAL YEARS
(Unaudited)
Table 9
Governmental Activities Business -Type Activities
General
General Certificates Sales Tax Premiums/ W&S Obligation Premiums/ Total Percentage
Fiscal Obligation of Tax Revenue Discounts Revenue Refunding Discounts Primary of Personal Per
Year Bonds Obligation Notes Bonds Leases Subscriptions on Debt Issues (I) Bonds Bonds Leases Subscriptions on Debt Issue
2016 $ 17,425,000 $ 27,710,000 $ 1,280,000 $ 120,000 $ - $ $ 1,497,876 $ 10,305,000 $ 5,695,000 $ $ $ 186,063 $ 64,218,939 3.94% $ 1,184
2017 14,490,000 27,350,000 860,000 75,000 160,545 1,099,640 9,540,000 5,240,000 168,446 58,983,631 3.62% 1,075
2018 11,460,000 35,660,000 735,000 40,000 83,848 1,211,502 11,545,000 4,770,000 150,830 65,656,180 3.82% 1,190
2019 8,805,000 46,200,000 1,565,000 1,887,637 19,905,000 4,295,000 133,213 82,790,850 4.49% 1,474
2020 6,040,000 51,710,000 1,110,000 5,450,000 2,195,218 18,725,000 3,805,000 115,597 89,150,815 4.48% 1,549
2021 4,115,000 54,930,000 2,370,000 5,245,000 (3) (3) 2,432,587 17,780,000 3,295,000 97,984 90,265,571 4.48% 1,549
2022 3,010,000 52,560,000 9,155,000 5,025,000 197,802 2,244,842 16,835,000 2,775,000 203,458 80,364 92,086,466 4.57% 1,581
2023 1,870,000 70,675,000 7,165,000 4,800,000 135,695 223,580 3,687,533 15,875,000 2,245,000 148,620 9,377 62,749 106,897,554 4.43% 1,737
2024 685,000 67,465,000 5,575,000 4,570,000 73,259 941,678 3,391,092 14,910,000 1,705,000 93,012 4,743 45,135 99,458,919 3.96% 1,616
2025 57,175,000 4,525,000 4,325,000 10,493 723,885 2,899,536 14,070,000 36,618 (10,289) 83,755,245 3.30% 1,360
Note: Details regarding the City's outstanding debt can be found in the notes to the Financial Statements.
(D Column added to table in 2016; prior year figures have been restated to include amounts reflected.
(2) See Table 13 for personal income and population data.
(3) Figure updated in FY2022.
134
CITY OF EULESS, TEXAS
RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
AS OF SEPTEMBER 30, 2025 — (Unaudited)
Table 10
General Bonded Debt Outstanding
Premiums/
Discounts Restated (4)
General Certificates on Debt Issues Less: Debt Net O/S Net General Debt Net General
Fiscal Obligation of and Losses on Service Debt Estimated Taxable to Taxable Debt Per
Year Bonds Obligation Refundings (1) Reserves Total (5) Population (2) Value (3) Value Capita
2016 $ 23,120,000 $ 27,710,000 $ 1,446,619 $ 2,055,746 $ 50,220,873 54,250 $ 3,454,590,524 1.45% $ 926
2017 19,730,000 27,350,000 1,288,664 2,398,220 45,970,444 54,870 3,551,269,846 1.29% 838
2018 16,230,000 35,660,000 1,381,631 2,913,866 50,357,765 55,170 3,994,306,235 1.26% 913
2019 13,100,000 46,200,000 2,038,856 3,415,104 57,923,752 56,160 4,380,610,654 1.32% 1,031
2020 9,845,000 51,710,000 2,066,094 3,676,024 59,945,070 57,550 4,906,129,368 1.22% 1,042
2021 7,410,000 54,930,000 2,546,006 4,153,924 60,732,082 58,260 5,195,274,057 1.17% 1,042
2022 5,785,000 52,560,000 2,105,638 3,242,540 57,208,098 61,480 5,315,101,752 1.08% 931
2023 4,115,000 70,675,000 3,543,290 3,715,908 74,617,382 61,544 5,947,756,519 1.25% 1,212
2024 2,390,000 67,465,000 3,447,799 3,951,783 69,351,016 61,555 6,654,448,995 1.04% 1,127
2025 57,175,000 2,899,536 3,938,172 56,136,366 61,601 7,138,908,676 0.79% 911
Note: Details regarding the City's outstanding debt can be found in the Notes to the Financial Statements. Total does not include revenue bonds.
Source: (I) Column added to table in 2016, prior years restated to include amounts shown.
(2) Estimates by North Central Texas Council of Governments and Euless Planning and Development Department
(3) Amounts provided by Tarrant Appraisal District
(4) Tax notes, leases, and subscriptions are excluded as these debt instruments are considered bonded debt.
(5) Amounts restated to include Midtown Debt Reserves.
135
CITY OF EULESS, TEXAS
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
AS OF SEPTEMBER 30, 2025
(Unaudited)
Governmental Unit
Table 11
Estimated
Estimated Share of
Debt Percentage Overlapping
Outstanding Applicable Debt
Debt repaid with property taxes
Grapevine-Colleyville Independent School District $ 302,425,000 10.90% $ 32,964,325
Hurst -Euless -Bedford Independent School District 813,765,000 21.80% 177,400,770
Tarrant County 314,050,000 2.49% 7,819,845
Tarrant County Hospital District 431,255,000 2.49% 10,738,250
Tarrant County College District 547,535,000 2.49% 13,633,622
Subtotal, overlapping debt 242,556,812
Debt repaid with property taxes and sales taxes
City of Euless (direct debt) 69,658,915 100.00% 69,658,915
Total direct and overlapping debt repaid with property taxes and EDC sales taxes $ 312,215,727
Notes: The percentage of overlapping debt applicable is estimated using taxable property values. Applicable percentages were
estimated by determining the portion of another governmental unit's taxable value that is within the City's boundaries and
dividing it by each unit's total taxable value.
The current year calculation of direct debt includes all general governmental activities debt including sales tax
revenue bonds which are not repaid with property taxes. Amounts shown have been adjusted for premiums.
Source: Debt outstanding data provided by Municipal Advisory Council of Texas and City records.
136
CITY OF EULESS, TEXAS
SCHEDULE OF REVENUE BOND COVERAGE WATER AND WASTEWATER BONDS — LAST TEN FISCAL YEARS
(Unaudited)
Interest
Less Net and
Fiscal Total Operating Revenue Fiscal
Year Revenues (1) Expenses (2) Available Principal Charges
Total
Table 12
Coverage
Ratio
2016 $ 24,311,965 $ 18,625,302 $ 5,686,663 $ 635,000 $ 181,747 816,747 6.96
2017 24,353,525 19,249,699 5,103,826 765,000 175,682 940,682 5.43
2018 27,828,648 20,880,984 6,947,664 780,000 184,154 964,154 7.21
2019 27,603,615 21,006,298 6,597,317 915,000 191,327 1,106,327 5.96
2020 27,683,951 23,101,386 4,582,565 1,180,000 306,354 1,486,354 3.08
2021 29,072,318 22,122,296 6,950,022 945,000 274,924 1,219,924 5.70
2022 29,733,939 24,625,613 5,108,326 945,000 267,554 1,212,554 4.21
2023 (3) 32,139,886 26,660,040 5,479,846 960,000 255,341 1,215,341 4.51
2024 38,175,886 28,629,521 9,546,365 965,000 244,787 1,209,787 7.89
2025 38,353,786 29,901,366 8,452,420 840,000 233,658 1,073,658 7.87
Notes:
(1) Operating and nonoperating revenues of water and wastewater fund
(2) Total operating expenses of water and wastewater fund exclusive of depreciation and amortization
(3) Restated
137
CITY OF EULESS, TEXAS
DEMOGRAPHIC STATISTICS — LAST TEN FISCAL YEARS
(Unaudited)
Table 13
Personal
Per Income
Fiscal Estimated Capita (thousands Median School Unemployment
Year Population (1) Income (2) of dollars) Age (2) Enrollment (3) Rate (4)
2016 54,250 $ 30,054 $ 1,630,430 34.9 23,090 3.8%
2017 54,870 $ 29,730 $ 1,631,285 34.9 23,425 3.2%
2018 55,170 $ 31,117 $ 1,716,725 34.9 23,632 3.5%
2019 56,160 $ 32,810 $ 1,842,610 36.1 23,624 (5) 3.6%
2020 57,550 $ 34,575 $ 1,989,791 35.3 23,756 8.9%
2021 58,260 $ 34,575 $ 2,014,340 35.3 22,884 4.6%
2022 61,480 $ 36,494 $ 2,243,651 35.6 22,815 3.5%
2023 61,544 $ 39,240 $ 2,414,987 35.6 22,971 3.7%
2024 61,555 $ 40,783 $ 2,570,398 34.3 23,092 3.9%
2025 61,601 $ 41,178 $ 2,536,606 34.8 23,183 4.1%
Notes: (1) Estimates by North Central Texas Council of Governments
(2) US Census Bureau
(3) Hurst -Euless -Bedford Independent School District
(4) Texas Workforce Commission; Bureau of Labor Statistics
(5) Updated from projected to actual
138
CITY OF EULESS, TEXAS
PRINCIPAL EMPLOYERS
CURRENT YEAR AND NINE YEARS AGO
(Unaudited)
2025*
Employer
HEB ISD
LSG Sky Chefs, Inc.
City of Euless
Target
Lowe's
Life Outreach International
Smyrna Concrete
Dave and Buster's
QuikTrip
Flynn BEC, LP
Thirsty Lion
Total
Employees
1,210
663
415
250
225
186
185
150
130
120
120
Percentage of
Estimated Total
City Employment
4.34%
2.38%
1.49%
0.90%
0.81%
0.67%
0.66%
0.54%
0.47%
0.43%
0.43%
3,654 13.12%
Source: City of Euless Planning and Development Department
* Prior year data used if updated information was unavailable.
139
Table 14
2016
Employer
HEB ISD
LSG Sky Chefs, Inc.
Autogrill Group, Inc.
City of Euless
Lazy Dog
Life Outreach International
Lowe's
Dave & Busters
Legend Oaks Healthcare
Redi-Mix Concrete
Percentage of
Estimated Total
Employees City Employment
808 3.77%
600 2.80%
450 2.10%
453 2.02%
215 1.00%
186 0.87%
150 0.70%
150 0.70%
134 0.63%
132 0.62%
3,278
15.21%
CITY OF EULESS, TEXAS
FULL-TIME CITY GOVERNMENT EMPLOYEES BY FUNCTION/PROGRAM - LAST TEN FISCAL YEARS
(Unaudited)
Table 15
Function/Program 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
General Government
and Administration 49.50 50.00 51.00 50.50 50.50 49.00 49.50 49.50 49.50 49.50
Public Safety 136.00 136.00 137.00 137.00 139.00 139.00 142.00 142.00 144.00 149.00
Fire Safety 72.00 75.00 75.00 75.00 75.00 75.00 78.00 78.00 78.00 78.00
Development Services 7.50 8.00 7.50 7.50 7.50 7.50 7.50 8.50 8.50 8.50
Culture and Recreational 34.25 35.25 35.25 35.25 34.25 34.25 34.25 35.25 35.00 36.00
Water and Wastewater 42.50 42.50 43.50 43.00 44.00 43.50 45.00 45.00 45.00 46.00
Golf Course 11.75 11.75 11.75 11.75 11.75 11.75 11.75 11.75 13.00 13.00
Public Works 20.00 21.00 22.50 23.50 23.50 23.50 23.50 26.50 28.50 28.50
Service Center 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00
Risk Management / Insurance 1.50 1.50 1.50 1.50 1.50 1.50 1.50 1.50 1.50 1.50
Total 380.00 386.00 390.00 390.00 392.00 390.00 398.00 403.00 408.00 415.00
Source: City Budget Office
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Function/Program
CITY OF EULESS, TEXAS
OPERATING INDICATORS BY FUNCTION/PROGRAM - LAST TEN FISCAL YEARS
(Unaudited)
Table 16
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Public Safety
Police
Number of Certified Officers 92 87 91 91 86 85 93 85 87 85
Number of Citations Issued 18,483 25,061 19,100 16,552 11,154 9,283 17,224 12,993 13,242 11,724
Fire
Number of Certified Firefighters 70 72 73 74 72 75 74 76 76 76
Number of Alarms 4,770 4,678 3,758 4,324 4,735 4,827 6,245 6,179 6,523 6,100
Number of EMS Calls 3,431 3,772 3,468 2,958 3,256 3,204 3,910 4,202 4,525 4,208
Municipal Court
Cases Filed
25,957 25,061 25,101 22,472 15,400 12,751 17,224 14,236 15,956 16,382
Development
Number Residential Permits - New 186 176 214 93 3 0 0 3 19 14
Number Commercial Permits - New 15 36 32 18 12 13 7 12 9 31
Number Multifamily Permits - New 0 0 1 6 0 0 0 0 0 5
Public Works
Street Overlay (Square Footage) 1,156,833 1,549,065 1,063,046 1,289,759 1,010,016 421,848 483,310 344,965 650,288 609,411
Cultural and Recreational
Parks and Recreation
Recreation Center Memberships 6,975 6,528 7,183 7,125 2,820 3,886 5,008 5,321 5,209 6,354
Water and Wastewater
Number of Water Consumers 25,812 25,970 26,200 26,659 27,467 27,855 27,942 28,249 28,006 28,004
Water Produced (In Gallons x 1000) 540,921 439,255 580,337 569,697 8,520 (2) 0 (3) 0 (3) 211,138 (4) 366,619 (4) 338,854
Water Purchased - TRA (In Gallons x 1000) 1,787,547 1,766,692 1,767,677 1,586,667 2,250,350 2,187,563 2,586,490 2,421,154 2,265,173 2,019,001
Water Supplied (In Gallons x 1000) 2,328,468 2,205,947 2,348,014 2,156,364 2,258,870 2,187,563 2,586,490 2,632,292 2,631,792 2,357,855
Annual Rainfall (In Inches) 53.16 34.96 42.39 48.20 45.27 33.41 29.92 28.88 47.59 34.56
Golf Course
Number of Paid Rounds Played
Source: City Departments
Annual Comprehensive Financial Report
City Budget Office
Notes:
(4)
32,852 33,237 32,557 32,016 30,860 42,429 41,645 41,727 32,729 24,402 (5)
(1) Amount restated to include recreation, aquatic and senior memberships.
(2) Wells were out of operation for most of the year; two wells are in the process of being replaced.
(3) All wells inoperable for the entire fiscal year; the two under construction are substantially complete but not yet in service.
(4) Restated
(5) Course closed for approximately four months for renovation.
141
Function/Program
CITY OF EULESS, TEXAS
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM - LAST TEN FISCAL YEARS
(Unaudited)
Table 17
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Public Safety
Police Stations 1 1 1 1 1 1 1 1 1 1
Fire Stations 3 3 3 3 3 3 3 3 3 3
Public Works
Streets - Paved (I) 344.77 350.12 350.12 351.74 351.74 352.60 352.60 352.40 352.40 357.53
Cultural and Recreational
Aquatic Facilities 3 3 3 3 2 2 2 1 1 1
Parks (2) 16 16 16 16 16 16 16 16 16 18
Parks Land (Acres) (3) 341 341 341 341 341 341 341 341 341 341
Other Facilities (Acres) (3) 291 291 291 291 291 291 291 291 291 291
Community Buildings 6 6 6 6 6 6 6 6 6 6
Amphitheater 3 3 3 3 3 3 3 3 3 3
Conference Centre 1 1 1 1 1 1 1 1 1 1
Golf Course 1 1 1 1 1 1 1 1 1 1
Softball Facility (4) 1 1 1 1 1 - - - -
AthleticFields 30 30 30 30 30 31 31 31 31 31
Library Holdings 101,160 85,123 80,241 81,353 82,501 85,010 88,577 91,560 93,590 93,393
Water and Wastewater
Water Mains - Potable (5) 235.50 236.30 239.10 241.93 242.28 243.00 244.50 248.74 248.80 251.80
Water Mains - Reclaimed (5) 3.82 3.96 4.12 7.15 11.65 11.65 11.65 11.65 11.65 12.94
Fire Hydrants 1,674 1,719 1,798 1,805 1,836 1,845 1,886 1,903 1,901 1,953
Wastewater Mains (5) 193.2 195.2 197.0 198.4 201.0 202.1 203.0 203.0 203.3 205.8
Source: City Depai t'lents
(I) Reported in lane miles.
(2) Restated to exclude Softball Facility
(3) Restated to reflect Golf Course and Softball Facility land separately
(4) Softball Facility operations were combined with Parks at Texas Star in FY2021.
(5) Miles of lines.
142