ML20052H167
| ML20052H167 | |
| Person / Time | |
|---|---|
| Site: | Crystal River  |
| Issue date: | 12/15/1981 |
| From: | John Kirkland TALLAHASSEE, FL |
| To: | |
| Shared Package | |
| ML20052H151 | List: |
| References | |
| NUDOCS 8205200017 | |
| Download: ML20052H167 (190) | |
Text
{{#Wiki_filter:- [ E [ COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE E CITY OF TALLAHASSEE, FLORIDA FOR THE [ Fiscal Year Ended September 30,1981 [ [ ! c E E Department of Finance Jim C. Kirkland, CPA Director of Finance Member of Municipal Finance Officers Association of The United States and Canada F L ajshg7gao,, a, E
I l i l 1 1 1 1 l INTRODUCTORY SECTION I 1 1 1 1 1 1 I I
( f- CITY OF TALLAHASSEE, FLORIDA { LISTING OF CITY OFFICIALS I As of September 30,1981 ELECTED OFFICIALS Mayor-Commissioner . Hurley W. Rudd Mayor Pro TemCommissioner. . James R. Ford { Commissioner . Carol Bellamy Commissioner . Kent Spriggs Commissioner . . Samuel E. Teague [ ( APPOINTED OFFICIALS City Manager . Daniel A. Kleman City Auditor-Clerk . ( Chy Attorney.
. Herbert J. Seckel
. Bryan W. Henry Internal Auditing Director . . . . James Gould DEPARTMENT DIRECTORS Deputy City Manager for Community Services . . Joe B. Dykes, Jr.
( Deputy City Manager for Administrative Services. .E. Dean Block Director of Finance . Jim C. Kirkland Director of Budget & Research . Charles F. Cuthbertson City Treasurer . Robert inzer r Director of Planning. . . Frank Branan ( General Services Director . Charles Barrier Director of Employee Relations . .Evelyn A. Brion Fire Chief. . Edwin Ragans ( Chief of Police . . Melvin Tucker Director of Tallahassee Transit . John L. Carter Airport Director. . Robert Johnson ( Director of Electric Utilities
.Kenneth Morgan l Director of Underground Utilities. . Thomas P. Smith Director of Public Works. . .Rhett Miller
{ Community improvement Director . Darryl T. Gorham Parks and Recreation Director . Randy Trousdell Affirmative Action Officer . ( .Sharon Strong i ( . . . .
I l I' TABLE OF CONTENTS g INTRODUCTORY SECTION PAGE I LISTING OF CITY OFFICIALS . TABLE OF CONTENTS ii CHIEF EXECUTIVE OFFICER'S LETTER OF TRANSMITTAL. v FINANCE DIRECTOR'S LETTER OF TRANSMITTAL. ix CERTIFICATE OF CONFORMANCE xix I CITY OF TALLAHASSEE ORGANIZATION CHART xx FINANCIAL SECTION 1 AUDITORS' REPORT AND BOND COMPLIANCE REPORT GENERAL PURPOSE FINANCIAL STATEMENTS (COMBINED STATEMENTS - OVERVIEW) Combined Balance Sheet - All Fund Types and Account Groups 6 Combined Statement of Revenues, Expenditures, and Changes in Fund Balance - All Governmental Fund Types and Expendable Trust Funds . 8 Combined Statement of Revenues and Expenditures - Budget and Actual- General Fund & Special Revenue Fund Types 9 Combined Statement of Revenues, Expenses and Changes in Retained Earnings or Fund Balance - All Proprietary Fund Types and Pension Trust Funds 10 Combined Statement of Changes in Financial Position - All Proprietary Fund Types and Pension Trust Funds 11 Notes to Financial Statements 13 COMBINING STATEMENTS - BY FUND TYPE ! Governmental Fund Types l General Fund g Balance Sheet. 35 3 Schedule of Revenue by Source - Budget and Actual 36 Schedule of Expenditures - by Department - Appropriated and Actual 38 Special Revenue Funds l Combining Balance Sheet. 42 Combining Statement of Revenues, Expenditures and Changes in Fund Balance 43 Combia:ng Statement of Revenues and Expenditures - Budget and Actual 44 I
I I . PAGE Capital Project Funds Combining Balance Sheet 48 Combining Statement of Revenues, Expenditures and Changes in Fund Balance . 49 Proprietary Fund Types Enterprise Funds Combining Balance Sheet 52 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings 54 Combining Statement of Changes in Financial Position 56 Schedule of Operating Expenses - Tallahassee Transit Fund 58 Internal Serv lce Funds Combining Balance Sheet 59 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings 60 Combining Statement of Changes in Financial Position 61 Fiduciary Fund lypes Ccmbining Balance Sheet 64 Comoining Statement of Revenues, Expenses and Changes in Fund Balances - Pension Trust Funds. 66 Combining Statement of Changes in Financial Position - Pension Trust Funds. 67 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Expendable Trust Funds. I Statement of Changes in Assets and Liabilities - Agency Fund . 68 69 STATISTICAL SECTION Auditors' Report on Statistical Schedules 71 Comments Relative to Statistical Section /3 General Government Expenditures by Function - Last Ten Fiscal Years 74 General Revenues by Source - Last Ten Fiscal Years . 75 Tax Revenue by Source - Last Ten Fiscal Years 76 Property Tax Levies and Collections - Last Ten Fiscal Years 77 Assessed and Estimateo Actual Value of Taxable Property - Last Ten Fiscal Years 78 Assessed Valuations, Millages and Taxes Levied and Collected - Last Ten Fiscal Years . 79 Property Tax Rates - All Overlapping Governments - Last Ten Fiscal Years 80 I Special Assessment Collections - Last Ten Fiscal Years . Computation of Legal Debt Margin 81 82 Computation of Direct and Overlapping Debt 83 Schedule of General Revenue Bond Coverage - Last Ten Fiscal Years 84 Construction, Bank Deposits and Property Values 85 I
r _ _ _ _ _ - _ _ _ I I PAGE Debt Service Requiremerits to Maturity Capital Bonds, Series 1978 86 Electric Revenue Bonds, Series 1977 88 Municipal Gas Revenue Bonds, Series A. 89 Municipal Gas Revenue Bonds, Series B 90 Municipal Gas Revenue Bonds, Series C 91 Municipal Water and Sewerage Revenue Bonds, Series 1964 . 92 g Municipal Utility Revenue Bonds, Series 1970 93 5 Municipal Utility Revenue Bonds, Series 1970A 94 Municipal Utility Revenue Bonds, Series 1979 95 Principal Taxpayers 96 Schedule of Insurance in Force . 97 Salaries and Surety Bonds of Principal Officials . 98 Miscellaneous Statistical Data . 99 Demographic Statistics 105 I I I I O I d No%$ I I I I I IV o
i 5 ) e i HURLEY W. RUDD DANIEL A. KLEM AN M AVOA CoMMisslONER Cif v M ANAGER JAMES R. FORD A' HERBERT J. SECKLE u Avon Pao Tau-CoMuissioNER CITY AuolTon-CLERK f CAROL BELLAMY g- p j BRYAN W. HENRY cowusosioNan e cm ATTonNav MENT SPRIGGS couwissioNsn h% ,p p TELEPHONE (904) s e e-s t oo H C AM U EL E. TEAGU E com uis sion en - CITY HALL l 32301 December 15, 1981 P L Honorable Mayor and Members of the City Commission City of Tallahassee, Florida Ladies and Gentlemen: ~ In accordance with state statutes and local charter provisions, 4 I hereby transmit the Annual Financial Report of the City of Tallahassee as of September 30, 1981 and for the fiscal year then ended. Responsibility ~ for both the accuracy of the presented data and the completeness and fairness [ of the presentation, including all disclosures, rests with the City. Management believes that the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the [ financial position and results of operations of the City as measured by the H financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the City's financial p affairs have been included. L In developing and evaluating the City's accounting system, consideration ~ is given to the adequacy of internal accounting controls. Internal accounting l controls are discussed by the finance director in his accompanying letter of transmittal, and within that framework, I believe that the City's internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions. This report has been prepared following the guidelines recommended r by the Municipal Finance Officers Association of the United States and Canada, s The Municipal Finance Officers Association awards Certificates of Conformance to those governments whose annual financial reports are judged to conform ~ substantially with high standards of public financial reporting including generally accepted accounting principles promulgated by the National Council on Governmental Accounting. The City of Tallahassee was awarded a ~ Certificate of Conformance for its annual financial report for fiscal year 1980. It is my belief that the accompanying fiscal year 1981 financial ~ report continues to meet program standards and it will be submitted to the Municipal Finance Officers Association for review. ~
"FLOltlDA'S CAPITAL CITY" - SEltVING ALL FLORIDA v
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I i Letter to City Commission Page 2 December 15, 1981 In accordance with the above-mentioned guidelines the accompanying report consists of three parts:
- 1) Introductory section, including the finance director's letter of transmittal
- 2) Financial section, including the financial statements and supplemental data of the gosernment accompanied by our independent auditor's opinion
- 3) Statistical section, including a number of tables of unaudited data depicting the financial history of the government for the past 10 years, information on overlapping governments, and demographic and other miscellaneous information State law requires that the financial statements of the City of Tallahassee be audited by a certified public accountant selected by the City Commission.
This requirement has been complied with, and our auditor's unqualified opinion is included in the financial section of this report. During Fiscal 1981 the City, as well as other municipalities, have found themselves in an increasingly hostile environment. Recent legislation has restricted the ability of municipalities to raise local revenues and has mandated new program requirements that infringe upon the right of Home Rule. Da the federal level the loss of CETA as a functional program had a substantial impact upon the City's ability to assist outside agencies by meeting resource needs through CETA funded projects. The need and expectation g of City assist nce will remain; the source of meeting these needs, however, g is no longer available. Additionally, the recent Federal Budget reduced traditional assistance programs to Mass Transportation, Park Acquisition and Urban Development grants. While these reductions have only minor impacts l in Fiscal 1982, they bode as an ill omen for a changing attitude in the
- Federal - Local partnership. We have been put on notice and must be prepared to take appropriate actions in the future.
At the State level we continue to be faced with encroachments upon our ability to raise local revenues through restrictive legislation such 3 as the TRIM measure and other legislative actions which restrict the g flexibility of local government to meet local needs. Despite these actions the City continues to maintain its financial vitality. Recent annexations have broadened the tax base, increasing tax revenues by 18% over the past three years despite successive decreases in the millage rate. Reserves while not approaching the full formula amount are at an all time high. The City, over the past five years has remained one of the select minority g i to operate with an annual surplus. g l I Vi l
( Letter to City Commission ( Page 3 December 15, 1981 However, looking beyond the current year certain spectres appear. Continuing inflation, demand for new or higher levels of service, fuel costs as well as legal challenges erode away or threaten to erode our [ past successes, thereby directing us to continue to place paramount importance upon the continuing ability to finance this government. With this necessity to look to the future to preserve financial flexibility, I ( am recommending continued review of the City's Enterprise Operations to insure that they provide a sound basis for government operations. {- The preparation of this annual financial report could not have been accomplished without the dedicated effort of the finance director and his entire staff. Their efforts over the past years toward upgrading the y accounting and financial reporting systems of the City of Tallahassee have ( lead substantially to the improved quality of the information being reported to the City Commission, state government, and the citizens of the City of Tallahassee. [ ' Resp ctfully submitted, [ - g _n Daniel A. Kleman City Manager [ [ [ [ [ [ l Vii ( - -- --- - - - - - - -
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I HURLEY W. RUDD D ANIEL A. KLEM AN M ayoR 4oM uit slON ER CITY MANAGER I J AMES R. FORD MAYOR PNQ TEM COMMissf 0NER HERBERT J. SECKLE CITY A U DITOR-C LE R K CAROL BELLAMY y ., f BRYAN W. HENRY I CommissaoNER KENT SPRIGGS CoMuissioNER 4 ggP
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CITY ATTORNEY TELEPHONE S AM U EL E. TEAGU E CouwissONER CITY HALL 32301 December 15, 1981 l Honorable Mayor, Members of the City Comrission and City Manager City of Tallahassee, Florida I Ladies and Gentlemen: The Comprehensive Annual Financial Report of the City of Tallahassee, Florida I for the fiscal year ended September 30, 1981 is submitted herewith pursuant to Section 49 of the City Charter, Florida Statues Chapter 166.241(4) and Chapter 10.500 of the Rules of the Auditor General of the State of Florida. I The Annual Financial Report was compiled by the staff of the Finance Department with close cooperation of the External Auditors and represents the official report of the City financial operations and condition to the I citizens, City Commission, management personnel of the City, rating agencies, and other interested persons. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the City. We believe the data, as I presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the City as measured by the financial activity of its various I funds; and that all disclosures necessary to enable the reader to gain the maximuu understanding of the City's financial affairs have been included. Accounting System and Budgetary Control The City's accounting records for general governmental operations are maintained on a modified accrual basis, with the revenues being recorded when available and measurable and expenditures being recorded when the services or goods are received and the liabilities are incurred. Accounting records for the City's utilities and other enterprises are maintained on the accrual basis. In developing and altering the City's accounting system consideration is given to the adequacy of internal accounting controls. Internal accounting controls are designed to provide reasonable, but not absclute, assurance regarding: the safeguarding < asets against loss from unauthorized use v. I disposition and the reliability of financial records for preparing financial statements and maintaining accountability for assets.
"FLolllDNS CAPITAL CITY" - SERVING ALL FLORIDA l .
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I I The concept of reasonable assurance recognizes that: the cost of a control should not exceed the benefits likely to be derived and the evaluation of costs and benefits requires estimates and judgments by management. Budgetary control in conformance with Section 27 of the City Charter and Florida Statutes, Chapter 166.241(3) is maintained through the use of l detailed monthly budget reports and quarterly interim financial statements. 5 The Reporting Entity and Its Services The funds and entities related to the City of Tallahassee included in our comprehensive annual financial report are cont. rolled by or dependent on the city. Determination of " controlled by or dependent on" is based on criteria developed by the U.S. Federal Bureau of the Census. The criteria deal with existance as an organized entity; governmental character; and substantial autonomy. Based on these criteria the various funds and account groups (being l all the fund and account groups of the city) shown in the Tables of Contents 5 are included in this report. In addition the financial statements of the Downtown Improvement Authority are included since the Authority lacks substantial autonomy. The City provides the full range of municipal services contemplated by statute or character. This includes public safety (police and fire), streets and sidewalks, garbage collections, recreation, public improvements, planning and zoning, general administrative services, four utilities (electric, gas, water, and sewer), a mass transit bus system and a municipal airport. General Government F'utetions The General Fund encompasses the general governmental functions of the City not required to be accounted for in other funds. Revenues from general governmental functions, including Transfers from Other Funds, totaled
$34,904,400 in 1981, an increase of 27.8% over 1980, primarily due to increased tax revenues, interest earnings (other income) and Transfers from Other Funds. Although Contributions from Other Funds increased by $6,325,000, a user of these statements should also observe that Transfers to Other Funds increased by $3,781,800 and that the reliance of the General Fund and Transfers actually increased only $2,901,900. These transfers must be made to and f rom the General Fund per outstanding bond covenants.
The entire increase in Transfers to Other Funds plus $221,700 of Fund Balance were parts of a $4,000,000 transfer to our Special Capital Projects Fund and is currently invested as opposed to having been expended. l Presented below is a comparison of the current fiscal year funding compared to last fiscal year. l I i I
[ 1 Increase Percent (Decrease) Financing Sources Amount of Total From 1980 ( Taxes $ 7,325,000 21.0% $ 755,400
-Licenses and Permits 981,100' 2.8% 86,100 Intergovernmental Revenues 6,031,800 17.3% 90,100
[ Charges for Services Fines and Forfeits 2,826,100 249,600 8.1%
.7%
173,300 (38,000) Other Revenues 990,800 2.9% 190,500 ( Transfer from Other Funds 16,500,000 47.2% 6,325,000 ( TOTAL $ 34,904,400 100.0% $ 7,582,400 Assessed property valuation of $1,358,118,400 (according to the Leon County ( Tax Collector) for 1981 represents a 19.9% increase over the $1,133,300,400 valuation for 1980. The City levied a 2.796 mil property tax, all of which is for operating purposes and has no uncollected ad valorem taxes. Operating expenditures and Transfers Out amount to $35,126,100 for 1981. This was an increase of 29.2% from 1980. This increase primarily resulted from inclusion of increased expenditures from General Government, public [ safety and increases of transfers to other funds. Increases in levels of expenditures for major functions of the General Fund over the preceding year are shown in the following tabulation: Increase Percent (Decrease) Function { Amount of Total From 1980 General Government $10,191,900 29.1% $ 1,850,700 ( Public Safety 9,688,900 28.0% 1,334,200 ( Highway and Streets 1,884,700 4.9% 281,800 Sanitation 2,920,800 8.3% 158,000 Health 840,700 2.4% 171,400 ( Welfare Culture and Recreation 401,700 2,465,600 1.1% 94,500 7.0% 268,700 Transfers to Other Funds 6,131,800 19.2% 3,781,800 TOTAL $35,126,100 100.0% $ 7,941,100 In 1981, General Fund Uses exceeded General Fund Sources by $221,700. However, this was not due to external expenditures, but instead was a conscious decision made by the City to transfer an increased amount to the Special Capital Proj ects Fund. This was primarily made possible by the collections of an interfund receivable from the Taltran Fund ($397,100), { a reduction in encumbrances ($91,600), the removal of Reserve to Fund Balances (81,900) and certain other account changes. Even after this accounting deficit and transfer, combined General Fund Cash and Investments increased by $273,400. The increased transfers would not have been made had the General Fund's net liquid assets been impaired. So, for all practical purposes, the General Fund continued to operate on a " pay-as-you-go" basis which is so important to local governmental financial practice. [ xi r _ - - - - - -
Special Revenue Funds Special Revenue Funds account for revenue from special revenue sources which g are legally restricted for specific purposes. The combined fund balances 3 of these Funds amounted to $17,513,400 and the following represents an analysis of sources and uses in the Special Revenue Funds for 1981. Change in Fund Sources Uses Fund Balance Special Insurance Reserve $ 128,300 $ 0 $ 128,300 Deficiencies & Emergencies 768,200 0 768,200 Water & Scwer Line Extension and Depreciation Fund 1,477,500 1,175,100 302,400 Special Capital Projects Fund 4,816,200 0 4,816,200 TOTALE $7,190,200 $1,175,100 $6,015,100 The Special Insurance Reserve Fund was created as a reserve against excessive losses by the City. The City is "self-insured" in so far as Workman's Compensation is concerned. The Deficiencies and Emergencies Fund accounts for unforeseen expenditures of an emergency as well as the accumulation of assets to meet such emergencies. The Water and Sewer Line Extension and Depreciation Fund was established for the purpose of planning and constructing additions to treatment plants and major systems lines of the water and sewer systems of the City. In addition, this fund may make payments of principal and interest, when due, on bonds sold to finance such improvements, extensions, renewal and replacements of the water and sewer systems. The Special Capital Projects Fund provides means of financing long term Capital Projects while minimizing the impact on the Operation Budget. Debt Administration The ratio of net bonded debt to assessed valuation and the amount of bonded debt per capita are useful indicators of the City's debt position to municipal management, citizens, and investors for General Government Debt. These data for the City at the end of the 1981 fiscal year vere as follows: Ration of Debt to g assessed value (50.8% Ration of Debt to Debt peg Net direct Amount of present market) present market value capita bonded debt $58,800,000 4.3% 2.3% $637.0Tg i The City has no outstanding general obligation debt since the decision has been g made instead to finance with general tevenue bonds for general government type capital improvements. The City currently has outstanding $38,800,000 of such Capital Bonds and $20,000,000 of Capital Bond Anticipation Notes. The Capital Xii
I Bonds - Series 1978 were sold utilizing the invested sinking fund concept and as of September 30, 1981 $3,121,900 had been deposited to be used exclusively for future retirement purposes. Additionally, the City has outstanding certain self supporting bonds which includes $121,005,000 of Electric Revenue Bonds plus $3,000,000 of Electric Revenue Bond Anticipation Notes and $22,310,000 of Utility Revenue Bonds. In 1979, the ratings of the Municipal Utility Revenue Bonds were upgraded by Moody's from "A" to , "Al". This year all bonds remained rated as in the previous year. The following is a schedule of the City's bond ratings: Standard & 'jE Bonds Capital Bonds - Series 1978 Moody's Poor's Al A Bond Anticipation Notes MIG-1 Not Rated Electric Revenue Bonds Al AA Electric Revenue Bond Anticipation Notes MIG-1 Not Rated Municipal Utility Revenue Bonds Al A+ lbnicipal Gas Revenue Bonds Not Rated A Municipal Water & Sewerage Revenue Bonds Al AA All reserve requirements mandated by bond covenants are fully funded at the prescribed levels. The financial statements present a reduction in Fund Balance in the Debt Service Fund. This is actually the net figure after assets were used to pay off $2,500,000 of Bond Anticipation Notes, as planned.
, Cash Management Program Beginning in 1977, in order to maximize the value of idle cash, we entered into a banking service agreement with a local bank. The agreement calls for the bank on a daily basis to invest all monies in our demand accounts in excess of $400,000 in an overnight repurchase agreement at the Federal Funds Rate. Earnings directly attributable to our banking agreement for Fiscal Year 1981 are $435,193. '
During the year ended September 30, 1981 the City established a pooled investment account. Under this program all available cash which is not I legally restricted is pooled together for investment purposes to insure the highest efficiency and return. Investments are made in various money market instruments including treasury bills, repurchase agreements, certificates of deposits and agencies of the federal government. Invest-ments are selected based upon current and anticipated liquidity requirements, yield, market diversification, and anticipated market movements. However, in no event are investments purchased whose maturity exceeds two years. Earnings are distributed to the various funds on a weekly basis accordingly to their percentage of investment. I xiii
The average yield on investments owned during the month of Septen.ber was $15.85%. The average life of the portfolio was approximately seven months and was being extended to lock-in current high rates in anticipation of falling interest rr.te s . Capital Projects Funds Proceeds of general revenue bond issues are primarily accounted for in Capital Projects Funds until the improvement projects are completed. At the end of the fiscal year, completed projects are capitalized in the General Fixed Assets Account Group. During 1981, $6,303,400 of such assets were added to General Fixed Assets primarily reprecenting such expenditures. The Capital Project Fund balances on hand at September 30, 1981 were represented primarily in cash, including investments and $1,595,400 from other governments. These assets are primarily intended to be used to construct a new City Hall and a Municipal Services Guilding, for Park and Recreation Construction and for street and traf fic signal system improvements. Enterprise Funds Enterprise Funds are those that are financed and operated in a manner similar to a private business enterprise where the intent of the governing body is that the cost of providing goods and services on a continuing basis be a financed through user charges or where the governmental body has decided g that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, budget policy, management control, accountability, or other purposes. The City accounts for its l Electric, Gas, Sewer, Water, Airport, and Transit Funds as enterprise u operations. These Funds are primarily supported by user charges. Net Income as used in these Funds is a defined accounting term which is primarily different from Budgetary Income in that depreciation and transfers have been deducted but not bond principal payments, contributions to the Renewal, Replacement and Improvement sub-funds nor capital purchases. Electric Fund Electric Fund operating revenues increased to $82,235,500 or $11,212,200 l over 1980. This represents a 15.8% increase, primarily attributabic to e increased base rates and increased fuel escalation costs which are passed through to the consumer. Operating expenses increased to $63,290,600 g or $9,950,600, a 18.7% increase over 1980. This is primarily attributable g to fossil fuel costs which increased by $5,724,200 and increased depreciation of $2,824,300. Net income increased to $2,222,100 or
$275,600 above 1980. Electric customers increased by 2,128 to 57,293 or 3.9% in 1981. Comparative data for the last two fiscal years are presented below:
I XIV
~ ~ 6
- 1981 1980
~' Operating Revenues $82,235,500 $71,023,300 ~~ Net Income Af ter Transfers 2,222,100 1,946,500 Amount Available for Debt Service 32,601,500 28,103,700 s Maximum Debt Service 10,800,400 10,800,400 Debt Coverage for Outstanding Bonds 3.02(X) 2.60(X) r _, Municipal Utility System The City of Tallahassee maintains separate accounting records for its gas,
- , sewer, and water operations. However the outstanding bonds are principally Municipal Utility Revenue Bonds secured by the revenues of the combined operations of these Funds which are of ten called the Municipal Utility System. The Municipal Utility System does not include the Electric Fund.
Therefore, I feel it is reasonable to show certain combined computations as presented below: ~ __ 1981 1980 Operating Revenues $16,938,300 $14,597,800 Net Income After Transfers 5,070,000 3,134,200 Net Revenues Available for Debt Service 8,181,600 7,011,800 Maximum Debt Service 1,929,269 1,929,269 ~~ Debt Coverage 4.24 (X) 3.64(X) i Net Income in the Gas Fund increased from $354,200 in 1980 to $402,900 in 1981 or $48,700. Gas sales in the aggregate remained fairly stable showing only a 25,084 MCF increase from 1980. This 1.8% increase resulted in sales of I l
$1,419,632 MCF in 1981. Gas customers increased by only 83 customers to 7,318.
~- Net income in the Sewer Fund increased from $1,323,300 in 1980 to $1,868,800 in 1981. Customers increased by 972 to 29,324 in September of 1981. Net income in the Water Fund increased from $1,456,700 in 1980 to $2,458,500 I in 1981 or $1,001,800. Metered water customers increased by 1,446 to 34,488 and hydrant rental customers decreased by 1,025 to 5,010 in 1981 due to annexations. Water sales increased by 474,228,500 gallons to 5,795,633,200 gallons in 1981. Airport Fund Net income in the Airport Fund decreased from $714,500 in 1980 to $467,300 in 1981. This primarily resulted from transfers to the Airport in 1981 as opposed to 1980. The Airport continues to basically be a break-even type operation net of transfers. I I xv l l l
Tallahassee Trsnsit Fund The Tallahassee Transit Fund accounts for the City-owned bus system. The capital assets of the system were primarily funded through federal grants from the Urban Mass Transit Authority (UMTA). Additionally, each year the operating loss, exclusive of depreciation and capital purchases, is 50% funded by Section V operating grant from UMTA. The net loss increased from $886,400 in 1980 to $1,305,100 in 1981 or an increased loss of $418,700. By increasing the budget for fiscal year 1982, the City Commission has decided to continue funding these deficits from general revenues. Internal Service Funds Internal Service Funds are established to account for the financing of goods g and services provided by one department or agency to other departments or g agencies of the governmental unit on a cost-reimbursement basis. The City of Tallahassee accounts for its Reading, Billing, and Collection activities, Data Processing, Accounting, Central Stores, Purchasing, Garage, Human Resources, and Pension Administration activities as Internal Service Funds in 1981. The expenses associated with these funds are billed to other City departments through allocation methodologies deemed most reasonable for each activity. These allocation methodologies were developed and are included in the City's Cost Allocation Plan which has been approved by our cognizant agency, EPA. Trust & Agency Funds Trust and Agency Funds are established to account for assets held by the governmental unit in a trustee capacity or as an agent for individuals, private organizations, other governmental units, and/or other funds. The largest trust funds in the City are the various retirement planc which g include the Municipal Employees' Retirement, City Employees' Pension, g Firemen's Pension, Policemen's Pension, and Police Pension Article II Funds. The City Commissioners serve as Trustees of the a pension funds with assets of $40,770,600. Other trust and agency funds include the Stadium Construction, Stadium Operations and Maintenance, Downtown Improvement Authority, Downtown Improvement Authority Parking Garage, and the Leon County Franchise Fee Funds. These Funds have assets of $149,900 and serve l various purposes in the best interest of the City. The $1,257,600 W reduction in Fund Balances of these expendable trust funds resulted from the closing out and transfer of the Tallahassee Regional Memorial Medical Center Trust Fund and the transfer of $1,393,800 of beginning of year assets to the hospital. Special Assessment Fund A Special Assessment Fund is established to account for the financing of public improvements or services determined to benefit the property against which special assessments are levied. The Street Paving Fund is accounted for as a special assessment fund to allow the cost of certain street paving and sidewalk construction to be levied against the adjacent property owners. xvi I
L ( { Upon completion of a project, the property owner is assessed a pro-rata portion of the cost of such project and given 30 days to make full payment. If payment is not received within this time period, a lien is placed upon the property and the owner can repay the City over a period of up to 10 years with ( interest thereon not exceeding eight percent (8%) . General Fixed Assets Group of Acco'mts The General Fixed Assets of the City are those assets used in the performance of general governmental functions and exclude the fixed assets of the Enterprise Funds and Internal Service Funds. Governmental accounting dictates that f these assets be accounted for separately from the General Fund since they do not represent financial resources available for expenditure. In accordance with generally accepted accountini, principles, the City of Tallahassee does not ( record depreciation in the General Fixed Assets Group of Accounts. The City of Tallahassee has $21,741,200 worth of general fixed assets which were acquired from General Fund Revenues, bonds, and gifts. As allowed by Generally Accepted Accounting Principles for Local Governments, roads, bridges, curbs ( and gutters, streets and sidewalks, drainage systems, lighting systems, and similar assets that are immovable and of value only to the governmental unit are not recorded as general fixed assets. - Independent Audit { The City Charter requires an annual audit of the books of account, financial records, and transactions of all administrative departments of the City by independent certified public accountants selected by the City Commission. [ This requirement has been complied with and the auditor's opinion has been ( included in this report. Certificate of Conformance [ The Municipal Finance Officers Association of the United States and Canada (MFOA) awarded a Certificate of Conformance in Financial Reporting to the { City of Tallahassee, Florida for its comprehensive annual financial report for the fiscal year ended September 30, 1980. In order to be awarded a Certificate of Conformance, the city must publish [ an easily readable and efficiently organized comprehensive annual financial { report, whose contents conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal ( requirements. A Certificate of Conformance is valid for a period of one year only. { We believe our current report continues to conform to Certificate of Conformance Program requirements, and we are submitting it to MF0A to determine its eligibility for another certificate. [ [~ _ XVil [ .
I ACKNOWLEDGEMENTS The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the entire staff of the Finance Department. I should like to express my appreciation to all members of the Department who assisted and contributed to its preparation. I should also like to thank the members of the City Commission for their interest and support in planning and conducting the financial operations of the City in a responsible and progressive manner. I Respectfully submitted, Ac.W w a Jim C. Kirkland {} Director of Finance xviii
E F L E Certi:!icate . [ 0:: Con:!ormance t . . .. in Financia. Reporting L Presented to [ City of > Tallahassee, Florida L Forits Comprehensive Annual Financial Report [ for the Fiscal Year Ended September 30,1980 A Certificate of Conformance in Financial Reporting is presented by the Municipal Finance Officers Association p of the United States and Canada to governmental units L and public employee retirement systems whose comprehensive annual financial reports (CAFR's) are judged to substantially conform to program standards. a A""!E*h t g& A /L t ic nt M.AL Executive Director F L F L I XiX
I CITY OF TALLAHASSEE ORGANIZATION CHART I City Commission City Auditor. C!ty Manager Internal Audit I Attorney Clerk I Deputy Deputy I City Manager City Manager Comm. Admin. l Services Services 3 Director-I Director- Director Director-Director- Underground Management Employee Electric Finance Utilities and Budget Relations Director- Project Director-I Fire Director-Public Manager Chief Affirmative Planning Works 201 Facilities Action Director- Director- Director-Director- _ Police General Data d Chief Aviation Services Services Re ealo Director-Director-I Community Taltran improvement I xx g
I I I I I FINANCIAL SECTION I I This section contains the following subsections: Auditor's Report and Boad Compliance Report General PurpLse Financial Statements Combining S'atements - By Fund Type I I I I I I
Williams Cox l Weidner j Cox Certified Public Accountants fo.Exison s SYRIEN S R
- ARI ANN A ,' LOR o 32 46' 9 0 MEM1ERSO, a W3 a's mLLaases, c.P A THE AME RICAN INSTITUTE 0, f ' ,,cua,[g"[ [, *g, t ,7,T % o'%7 5 'Tu' ?o",~ 3 ,,io
'O1:d"d;t. 'fc*ol'#o",OTAsSociano me . = **'s'Ia**'Elfi REGateA A POPPELL, C.P A.
The Honorable Mayor-Commissioner =c A=oagtgc;; and City Commissioners c
;',aan=g' City of Tallahassee, Florida g A ga We have examined the combined financial statements of the City of Tallahassee, Florida, as of and for the year ended September 30, 1981, as listed in the table of contents. Our examination was made in ac-cordance with generally accepted auditing standards and, accordingly, l included such tests of the accounting records and such other auditing i procedures as we considered necessary in the circumstances.
In our opinion, the combined financial statements referred to above present fairly the financial position of the City of Tallahassee, Florida, at September 30, 1981, and the results of its operations and the changes in financial position of its proprietary fund types for { the year then ended, in conformity with generally accepted accounting principles year. applied on a basis consistent with that of the preceding Our examination was made for the purpose of forming an opinion on t'te combined financial statements taken as a whole. The combining financial statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the combined financial statements of the City of Tallahassee, Florida. The information has been subjected to the auditing procedures applied { in the examination of the combined financial statements, and, in our opinion, is fairly stated in all material respects in relation to the combined financial statements taken as a whole. ( ,i 0h w/ { Williams, Cox, Weidner and Cox December 11, 1981 ( ( l 1 l [ . . . . . . . . . . . . . .
.- a ._ - ,
I I I I I E I I I (This Page Intentionally Left Blank) I I (h,? , I I I I I I
[ Williams Cox [ Weidner [ Cox Certified Public Accountants No. Ex'Ie'oeY a s.7REEN STREE e ARIANNA FLOR 32446* MEMEE RS Op A vs am enttianas. c P_A. C T IEDP Ltc CCOUN(ANTS 'g*, g* g p.a
!v"L'ic ACCOUNU' TS"'^J"""'" '%'."ec"a'J.l';i ACCOUNTING FIRUS ASSOCI ATEO,INC qJ asic c
,Y
[ - The Honorable Mayor-Commissioner ===:
;',""n',l'a'At;t and City Commissioners
[ City of Tallahassee, Florida E we have examined the combined rinencie1 etetements or the city or Tallahassee, Florida, for the year ended September 30, 1981, and have issued our report thereon dated December 11, 1981. Our examination was [ made in accordance with generally accepted auditing standards, and accordingly, included such tests of the accounting records and such { other auditing procedures as we considered necessary in the circum-stances. During our examination, we reviewed the financial convenants as pre-scribed in the authorizing ordinances for the-following bond issues: Revenue Bonds Special City Debt [ Capital Bonds, Series 1978 L Capital Bonds, Series 1979 Renewal Notes ; Capital Bonds, Series 1981 Anticipation Notes ( Electric System Series 1977 Series 1981 Anticipation Notes [ Utility System Municipal Utility r Series 1970 L Series 1970 A Series 1979 ( Municipal Gas Series A Series B { Series C l Municipal Water and Sewerage Series 1958 Series 1964 3 c --- - - --- -- - - - --- -
1 I' I The Honorable Mayor-Commissioner and City Commissioners December 11, 1981 g Page 2 5 In the course of our review, nothing came to our attention that caused us to believe there had been a lack of compliance with the convenants of the above bonds during fiscal year ended September 30, 1981. 4 Williams, Cox, Weidner and Cox December 11, 1981 l l I l I I I I I I I I I Williams, Cox, Weidner and Cox, P. A. B 4 g
[ [ [ [ [ [ [ GENERAL PURPOSE FINANCIAL STATEMENTS (Combined Statements - Overview) ) These basic financial statements provide a summary overview of the fi-
~
nancial position of all funds and account groups as well as the operating results of all funds. They also serve as an introduction to the more detailed statements and schedules that follow in subsequent sections. [ [ [ c . - - - - -- -- -
E [ [ E E [ [ [ [ (This Page Intentionally Left Blei.k) D h O Y 50 ws [ E E E c L I L
CITY OF TALLAHASSEE, FLORIDA , COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS September 30,1981 , fiduciary Governmental Fund Types Propretary Fund Types Fund Type Accou nt Groups Tota's Genera: General Lorg (Memorandum Orgy) Special ~ Debt Capital Special Internai T rust 5ervrce Projects Assessment E nte< prise Service and Agency Fized Assets term Debt Sept 30, 1981 Sept 30. 1980 ASSETS General Revenue 5 - 5 - 5 - 5 50.300 5 46.700 5 - 5 -- 5 - 5 97.000 5 320 400 Casn 5 - 5 -
- 6.844 NJO 1.222 000 21 654 300 2 100 2.026.000 454 800 t o 250.500 - - 53 597.30r 27.541.600 Equity in Pooled Cash 1.143.100 703 600 2.909 500 - - - -
30.152200 - - 33.765.300 31.375.600 investment at Cost - Rece.vables 1.014 000 1.057.700 - - - - - 1.057.700 Special Assessments - - - 191 100 16.700 160.800 - 30.200 - - 420 800 148.800 Accrued interest Receivatne - 22 0(JO -
- - - 397,600 -
397.700 - - 795,300 838.800 Note Recewable - -
- 6 788.400 - - - -
7 208.700 6 110 000 Custorners 419.700 - - - 1.595 400 - 3.437.000 36 400 89 900 - - 5.512.500 7.792 200 i Other 153 800 - - Less Ailowance for Doubtful (834.400) (852.300) (33.400) - - (2.700) - (798.300) - - - - i Accounts 557.000 - - - - - - 557.000 1 290.000 I Due from O'her Funds - -
- - - 55.700 6.500 - - -
62200 121.800 Deposits - - 9.170.000 2.537.000 - - - 11.707.000 10,163.70G inventory - - Restricted Assets 30,000
- - 7.700 - -
30.000 - - - 37,700 Cash - i 34.607.300 1.632 200 - - - 36 239.500 38.014.100 Equity en Pooled Cash - - 2.986.500 - 14 887.000 - - - - 14.873.500 12.881.800 m investments at cost - - 91.300 - - 29 800 - - - - 121.100 236.300 Accrued interest receWable -
- - - 1 875.500 - - - -
1.875.500 452.400 Accounts Receivabie - - 57.300 Land Deposit - - - 44.100 - - - - - - - 44.100 38.700 Deposits - - Fued Assets (net of 225 925,400 251.969.000 232.311.900 accumulated depreciation) - - - - - 4.302.400 - 21.741 200 - 11.400 - - - - 11.400 t 7,100 Goodwill -
- - - - - 790 900 - - - -
790.900 852.900 Unamortued Bond issue Cost Amount ava>Iable in Debt Service - - - - - - - 7.444.500 7.444.500 9 237.400 Funds Amount to be provided for Retirement 51.355 500 51 355 500 32 062.600 of Generat Longterm Debt - - - 5 1 883 200 517.570 100 5 7 444 500 523 811.700 5 1 076.500 5296 414 800 5 9 046 000 540 920 500 521 741 200 558 800 000 5478 708 500 5412 057.100 Totaf Assets LIABILIT ES AND FUND EOulTY Liatuhties 90.000 5 - 5 - 5 346.500 5 - 5 3.707.800 5 108.600 5 - 5 - 5 - 1 4 252.900 5 5.789 900 Accounts Payable 5
- 1,696.000 - - - -
1.752.700 2.34 7.5C0 Contracts Payable - 56.700 - - 80200 - - - - - - 80100 274.900 Retainage Payable - - 557.000 - - - - -
$57.000 1 290.000 Due to Other Funds - -
Advance from Municipahty -
- - - 1.400.200 - - - -
1.400200 1.442.100 Genera! Revenue Bonds - - 849.700 - - - - 849.700 752.100 Customer Advances for Construction - -
- - 3 220.600 - - - -
3 220.600 3.006.600 Utihty Deposits Payable - - - Loan from Munecipal Reterement 419,400
- - - - 397.600 - - - - 397.500 Fund -
3.100 Other Current Liabihties - - E E E E E E E E E
T ro 7m j i ; i ; i ; i i t ; t ; i i t ; L , t ; t ; ' r, ; L i t ; L ; Payabte from Restricted Assets Accrued In'erest and Comm4ssons Pa yatile - - - - - 10 400 - - - - 70.400 14 4JO Revenue Bonds Payatae - - - - - 200 000 - - - - 200.000 260 000 Reta.nage & Ac:ounts Payable - - - - - 1.865.300 - - - - t 865 300 70 900 Deterred Revenue - - - - - 132.500 - - - - 132.500 359 000 Customer Advances Payable - - - - - - - - - - - 900 Revenue Bonds Payabie - - - - - 143.115.000 - - - 38.800.000 181.915 000 186.350 000 Bond D scount - - - - - {1.746.400) - - - - (t 746.400) (1 866 900) Special Assessments Certifccates Payabie - - - - 131.400 - - - - - 131400 170 600 Antic:paton Notes Payable 3 000.000 20 OtM 000 23 000 000 2 500.000 Tota! L'aDahbes 90 000 56 700 - 426.700 688 400 157 848.700 108 600 - - 58 800 000 218 019 100 203 184 500 Fund Equity Conircuted Capital - - - - - 33 890 600 20.400 - - - 33 911 000 24 744 200 investment in Generas Fixed l Assets - - - - - - - - 21.741 200 - 21.741 200 15 437.800 ( Retained Earnings Reserved for Law Enforcement - - - - - - 30.000 - - - 30.000 - Reserved for Fleet Management - - - - - - 1.632200 - - - t 632200 1.328 900 Reserved for Revenue Bonds Debt Service - - - - - 69.100 - - - - 69 100 36.500 Reserved for Revenue Bands - - - - - 12.729.700 - - - - 12.729 700 12.907.400 Reserved for Revenue Bonds Construction - - - - - 14 205.100 - - - - 14 205.100 16.908.300 Reserved for Other Construction - - - - - 4.022.300 - - - - 4 022.300 3.418.000 Reserved for Revenue Bonds Renewal and Replacement - - - - - 15,372.700 - - - - 15 372.700 14.571.100 Unreserved - - - - - 58 276.600 7.254.800 - 65 531.400 56.364.700 Fund Balances Reserved for Encumbrances 256,100 - - 19 856.300 - 20 112.400 3.339 200 Reserved for CETA Workmen's Compensation - - - - - - - - - - - 01.900 Reserved for Maintenance and Replacement of Water and Sewer Lines - - - - - - - - - - - 110 000 Reserved for Law Enforcement Trust Fund - - - - - - - - - - - 65.000 Reserved for Employee Retirement Plans - - - - - - - 40.770.600 - - 40 770 600 34.199 500 Reserved for Community and Rehabehtative Trust - - - 7.700 - - - - - - 7.700 13fa) Reserved for Debt Service - - 3.053.500 - - - - - - - 3.053.500 2.354,300 Unreserved Designated for Surcharge - 62 300 - - - - - - - - 62.300 - Designated for Debt Servece - - 4.391.000 - - - - - - - 4 391.000 6.883.100 Undesignated 1.537.100 17.451.100 - 3.521.000 388 100 - - 149 900 - - 23.047 200 16.109.100 Total Fund Equity 1.793 200 17.513 400 7.444 500 23 385.000 _ 388.t 00 138.566.100 8 937.400 40.920 500 21.741 200 - 260.689 400 208 872 600 To;al Liabilities and Fund Eqwty 5 1 883 200 5 17.570.100 $ 7 444 500 $ 23 811.700 $ 1.076 500 5 296.414 800 $ 9 046,000 5 40 920.500 $ 21741200 5 58 800 000 $ 478.708.500 $ 412.057100 The Accompanying Notes are an integral part of these financial sta'ements i
, CITY OF TALLAHASSEE, FLORIDA l COMBINED STATEMENT OF REVENUES, EXPENDITURES, ) AND CHANGES IN FUND BALANCES l , ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS For the Fiscal Year Ended September 30,1981 l
i Fiduciary Totals [ j Governmental Fund Types Fund Type (Memorandum Only) Special Debt Capital Special Expendable September September i General Revenue Service Projects Assessment Trust 30,1981 30.1980 Fund Balances - October 1 - $ 2.014.900 $11.498.300 $9.237.400 $ 4.003.900 $158.500 $2,043,300 $28.956,300 $24,702.700 j Revenues-
- Taxes 7.325,000 - - - -
44.900 7.369,900 6,603.500 Special assessment; levied - - - - 160.800 - 160.800 914,000 Licenses and permits 981.100 - - - - - 981.100 895.000
} 5.096,400 11,160.200 17,019.700 ; intergovernmental revenues 6,031,800 - - -
32.000
! Charges for services 2,826,100 662,800 - - -
127.900 3.616.800 3,527,100 Fines and forfeits 249,600 - - - - - 249.600 287,600 i { interest earned 843.500 1.652.900 224.100 1.123.700 88.000 59,500 3.99i,700 2,195.700
- Miscellaneous revenues 147.300 52.500 - 28,900 10.500 2.800 242,000 188.300 W I Total Revenues 18.404.400 2,368.200 224.100 6.249.000 259.300 267,100 27,772.100 31,630.900
- Expenddures
1 Current: E General government 10.191,900 - - 1.639.600 13.900 309,900 12,155.300 10.586.900 l i Public safety 9.688.900 - - - - - 9,688.900 8.354,700 Highways and streets 1.884.700 - - 432.700 - - 2,317.400 2,659,100 l Sanitation 2,920,800 - - - - - 2,920.800 2,829.900 W I Health 840.700 - - 24.500 - - 865.200 755.800 Welfare 401,700 - - 907,300 - - 1,309.000 1,232.200 Culture and recreation 2.465.600 - - 23,400 - - 2,489,000 2.256.900 j Education - - - 83,100 - - 83.100 95,300 g ! Capital outlay - 133.600 - 6,165,400 17,900 1,215.100 7,532,000 14,666.600 Debt service: Prineipal retirement - - 2.500,000 - - - 2.500.000 2.500,000 Interest and fiscal charges - - 3.549,100 - - - 3.549.100 2.649,207 Total Expenditures 28.394.300 133.600 6.0 9,100 9.276.000 31.800 1.525,000 45.409.800 48.58C 600 Excess of Revenues over (under) ! Expenditures (9.989.900) 2.234.600 (5.825.000) (3.027,000) 227.500 (1.257.90_0) (17,637.700) (16,955.700) l Other Financing Sources (Uses). , Proceeds f rom sale of I property - - - 125.000 - - 125,000 125,000 m Proceeds from anticipation notes - - - 20.238.300 - - 20,238.300 2.500.000 Operating transfers in 16,500,000 4,822,000 4.032,100 4.264.200 2,100 300 29.620,700 25.697,800 Operating transfers out (6.731.800) (1.041.500) - (2.855.200) - - (10.628.500) (7.113,500) Total Other Financing Sources (Uses) 9.768.200 3,780,500 4,032,100 21.772.300 2.100 300 39,355.5nn 21,209,300 Excess of Revenues and Other Sources over (under) Expendi-tures and Other Uses (221.700) 6.015.100 ( t ,792,900) 18,745.300 229.600 (t .257,600) 21,717.800 4.253.600 g Residual Equity Transfers g from (to) other funds - - - 635.800 - (635.800) - - Fund Balances-September 30 $ 1,793.200 $17.513.400 $7.444.500 $23.385.000 $388.100 $ 149.900 $50.674,100 $28.956.300 The accompanying notes are an integral part of these financial statements. I 8 I
CITY OF TALLAHASSEE, FLORIDA COMBINED STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL { GENERAL AND SPECIAL REVENUE FUND TYPES For the Fiscal Year Ended September 30,1981 General Fund Special Revenue Funds Variance Variance Favorable Favorable Encum- Budgetary (Unfav- (Unfav-Actual brances Basis Budget orable) Actual Budget orable) Revenues: Taxes $ 7.325,000 $- $ 7.325.000 $ 6.837.400 $ 487.600 $ - $ - 3 - Licenses and permits 981.100 - 981,100 778.000 203,100 - - - Intergovernmental revenues 6,031,800 - 6.031,800 6,169,500 (137,700) - - - Charges for services 2.826.100 - 2.826.100 2,663,000 163.100 662.800 662.800 - Fines and forferts 249.600 - 249,600 260,000 (10.400) - - - Interest earned 843,500 - 843.500 739,000 104,500 1.652.900 2.075,100 (422.200) Miscellaneous revenues 147.300 - 147,300 52,200 95.100 52.500 - 52,500 Total Revenues 18.404.400 - 18.404.400 17.499.100 905.300 2,368.200 2,737,900 (369.700) Expenditures: Current: General government 10.191.900 8.400 10.200.300 10,291,200 90.900 - - - Pubhc safety 9.688.900 (94,300) 9.594,600 9.638,200 43.600 - - - Highways and streets 1.884,700 87,500 1,972,200 2,014,300 42,100 - - - Sanitation 2.920.800 - 2,920.800 2,874.200 (46.600) - - - Health 840,700 14,300 855.000 853.800 (1,200) - - - Welfare 401,700 1.200 402.900 431.200 28.300 - - - Culture and recreation 2.465,600 (8.400) 2,457.200 2.422,100 (35,100) - - - Capital outlay - - - - - 133.600 133.600 - Total Expenditures 28,394.300 8.700 28,403.000 28.525.000 122.000 133.6b 133.600 - Excess of Revenues over (under) Expend:tures (9.989.900) (8,700) 1.027,300 (9.998.600) (11.025.900) 2.234.600 2.604.300 (369.700) Other Financing Sources (Uses): Operating transfers in ( Operating transfers out 16,500.000 (6.731.800) 16,500,000 (6.731.800) 11.934,500 4,565.500 (908.600) (5.823.200) (1,041,500) (1,041,500) 4.822,000 500,000 4,322,000 Total Other Financing Sources (Uses) 9.768.200 - 9.768.200 11.025.900 (1,257.700) 3,780,500 (541.500) 4,322.000 Excess of Revenues and other Sources over (under) Expenditures and Other Uses $ (221,700) $(8.700) $ (230,400) $ - $ (230,400) $6.015,100 $2.062.800 $3.952.300 The accompanying notes are an integral part of these financial statements. ( ( [ [ [ 9 w
1 I CITY OF TALLAHASSEE, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS ALL PROPRIETARY FUND TYPES AND PENSION TRUST FUNDS For the Fiscal Year Ended September 30,1981 l Proprietary Fiduciary Totals ! Fund Types Fund Type (Memorandurn Only) ! Internal Pension September September Enteronse Service Trust 30.1981 30.1980 Operating Revenues. Charges for Services $102.802.300 $11.200.100 -
$114.102.400 $ 98.902.000 g inteiest - -
$ 3.840.700 3.840.700 3.055.300 Contr.butions - -
4 625.300 4.625.300 4.477200 Other - 84.300 - 84.300 33.100 Total Operating Revenues 102.802.300 11.384.400 8.466.000 122.652.700 106.467.600 , Operating Expenses' l Fossil Fuel 45.962.800 - - 45.962.800 40238.600 Nuclear 584.300 - - 584.300 371.600 Purchase of Power 349.100 - - 349.100 270.800 Purchase of Gas 4 328.500 - - 4.328.500 3.537200 Production 4.803.100 - - 4.803.100 4.756.900 ! Transmission 579.000 - - 579.000 535.600 Distnbution 4202200 - - 4202200 3.401.000 l Administratrve 3.143.600 - 74.900 3.218.500 2.546.500 : Automotive and Equipment 1.395.500 - -
?.395.500 1.092.000 Less Apphed Equipment Charges (1.168.300) - -
(1.168.300) (1.039.200) Matenat and Suppbes 153.300 126.100 - 279.400 153.700 t Personal Services 1.779.900 3,163.500 - 4.943.400 4.233.200 Contractual Services 1,839.700 6.523.100 - 8.362.800 7.610.600 Customer Accounts Expense 2.503.000 - - 2.503.000 2.414.300 Benefit Payments - - 1.186.000 1,186.000 1.021.900 Refunds - - 329200 329200 270.000 l Medical and Insurar'ce - - 304.800 304.800 294.600 Depreciation 10.466200 548.500 - 11.014.700 7.519.700 l Amortizaton 208.100 - - 208.100 207.800 I Other 176.800 480.500 - 657.300 540.800 Total Operating Expenses 81.306.800 10.841.700 1.894.900 94.043.400 79.977.600 Operating income 21.495.500 542.700 6.571.100 28.609.300 26.490.000 i Nonoperating Revenues (Expenses) i interest 7.481.900 192.700 - 7.674.600 6.888.400 gl Gain on Sale of Surplus Property 52.100 116,600 - 168.700 154.900 l Recovered Costs 28.400 - - 28.400 21,400 I Federal Grant Revenue 82.700 - - 82.700 389.900
- Insurance Claims - - - -
700 Other Revenues 531 2 00 - - 531 200 160.900 Interest and Commission Expenses (8.457.300) - - (8.457.300) (8.395.200) Loss Due to Theft - - - - (2,000) Loss on Saie of Property (1.700) - - (1.700) - Amortization (Goodwill) (5.700) - - (5.700) (5,700) Other Expenses (81.800) - - (81.800) (3.700) Total Nonoperating Revenvas (Expenses) (370.200) 309.300 - (60.900) (790.400) Income Before Operating Transfers 21.125.300 852.000 6.571.100 28.548.400 25.699.600 Opeat,ng Transfers in (Out) - Net (15.010.800) 179.600 - (14.831200) (12.772.700) g Net income 6.114.500 1.031.600 6.571.100 13.717200 12.926.900 Disposition of Net incorne. Depreciaton on Contnbuted Assets 911 200 300 - 911.500 12.600 l Net increase in Retained Earnings 7.025.700 1.031.900 6.571.100 '4.628.700 12.939.500 Retained Earnings - October 1 97.649.800 7.885.100 34.199.500 139.734.400 126.794.900 Retarned Eamings - September 30 $104.675.500 $8.917.000 $40.770.600 $154.363.100 $139.734.400 The accompanying notes are an integral part of t'iese financial statements I 10 I
CITY OF TALLAHASSEE, FLORIDA COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES AND PENSION TRUST FUNDS [ For the Fiscal Year Ended September 30,1981 Propretary Fiduciary Totals Fund Types Fund Type (Memorandum Only) Internal Pension September September Enterpnse Service Trust 30.1981 30.1980 Sources of Working Capital. Operations Nei income $ 6.114.500 $1.031.600 $6,571.100 $13.717.200 $12.926.900 items not requmng (provid4ng) working capital. Deprecation 10.466200 548.500 - 11.014.700 7.519.700 Amortization 213.800 - - 213.800 213.500 Working Capital Provided by Operations 16.794.500 1.580.100 6.571.100 24.945.700 20.660,100 increase in Customer Contracts Payable 132.000 - - 132.000 133.200 Decrease n Long Term Portion of Note Receivable 23.600 - 23.500 47.100 21.700 Contr butions 10.078.400 - - 10.078.400 14.628.400 increase n Retained Earnings Due to Tangible Asset inventory Adjustment - - - - 76.000 Decrease un Restncted Assets 25200 - - 25.200 3.160200 Decrease m Deposits 48.600 - - 48.600 - Decrease m Other Accounts Receivable 1.912.800 - - 1.912.800 748.400 Retirement of Plant m Service - 4.800 - 4.800 - Increase in Customer Advances for Construction 33.500 - - 33.500 - Increase n Deferred Revenue 102.000 - - 102.000 900 increase in Payatue for Restncted Assets 1.732.600 - - 1.732.600 500 increase o Bonds Payable 3.000.000 - - 3.000.000 - Total Sources of Working Capital 1.584.900 6.594.600 42.062.700 39.429.400 _ 33.883200 Uses of Working Capital-Acquisition of Plant and Equipment 23.344200 1.034.900 - 24.379.100 23.518.500 increase in Restncted Assets 427.400 333.300 - 760.700 311.000 Note Receivable Due from Airlines for Construction of Concourse Area - - - - 397.700 increase o Deposits - - - - 104.300 Decrease m Customer Advances for Construction 12.700 - - 12.700 175.400 Decrease n Bonds Payab!e 4.435.000 - - 4.435.000 4.135.000 Adiustment to Retained Eamings - - - - 7.460.800 increase n Bond issue Cost - - - - 23.800 Reduction in Advance from Municipalsty 66.800 - - 66.800 19.100 Decrease m Customer Contracts Payable - - - - 551.400 Reduct.on of Loan from Municipal Retirement Fund 23.600 - 23.600 21.700 Decrease in Payable from Restncted Assets 2200 - - 2200 17.700 increase in Bond Discount 25.500 - - 25.500 - Total Uses of Working Capital 28.337.400 1.368 200 - 29.705.600 36.736.400 Net increase (Decrease) m Working Capital 5 5.545.800 $ 216.700 $6.594.600 $12.357.100 $ 2.693.000 Elements of Net increase tDecrease) n Working Capital Cash $ (202.800) $ (6.900) $ ~ $ 178.300
$ (209.700)
Equity n Pooled Cash 1.108.900 242.000 4.463.100 5.814.000 254.600 Accrued irterest Recervable 160.800 - 10.500 171.300 (105.700) Investments - at Cost - - 2,126.400 2.126,400 (938.10U) Accounts Accewable 932.600 (7,300) (7200) 918.100 1.t 22.000 inventory 1.559200 (15,900) - 1.543.300 710.900 Due from Otner Funds - (3.900) - (3.900) (314.400) Notes Receivable 1.800 - 1.800 3,600 23.400 F Other 3.100 - - 3.100 - Accounts Payable 1.218.400 4.800 - 1.223.200 (1,180.400) Customer Contracts Payable 683.300 - 683.300 196.600 Customer A(tvances for Construction (75.900) - - (75.900) 11.100 Due to Other Funds 397.100 3.900 - 401.000 3,174.600 Utility Deposits Payable (214.000) - - (214.000) (420.600) Retainage Payable - - - - (27.600) Loan from Municipal Retirement Fund (1.800) - - (1,800) (1.700) r Advance from Municpakty (24.900) - - (24.900) - Net increase (Decreast) m Working Capitat S 5.545.800 $ 216,700 $6.594.600 $12.357.100 5 2.693.000 The accompanying notes are an integral part of these financial statements. u 11 _ _ _ _ _ _ ___m- - --
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[ [ ( [ [ [ NOTES TO FINANCIAL STATEMENTS [ [ < [ [ [- 9 a 9
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30, 1981 { NOTE 1 - Summary of Significant Accounting Policies The City of Tallahassee maintains its accounting records in accordance with generally accepted accounting principles applicable to governmental units. The following is a summary of the more significant principles and practices used in the preparation of these financial statements. A. Fund Accounting ( The accounting records of the City are organized on the basis of funds and groups of accounts. A fund is defined as a fiscal and operating entity, with a self-balancing set of accounts recording cash and other financial resources together with all related liabilities, residual equities, or [ balances and charges therein which are segregated fcr the purpose of carrying on the specific activities, or attaining certain objectives in accordance with special regulations, restrictions or p limitations. For reporting purposes, the various funds of the City are classified into three basic L fund types: governmental funds, proprietary funds and fiduciary funds. GOVERNMENTAL FUNDS General Fund - The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds - Special Revenue Funds are uced to account for the proceeds of specific revenue sources (other than special assessments, expendable trusts, or major capital projects) that are legally restricted to expenditures for specified purposes. { Debt Service Funds - Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest, and related costs. Capital Projects Funds - Capital Projects Funos are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those { financed by Proprietary Funds, Special Assessment Funds, and Trust Funds). Special Assessment Funds - Special Assessment Funds are used to account for the financing of public improvements or services deemed to benefit the properties against which j [ special assessments are levied. ' PROPRIETARY FUNDS Enterprise Funds - Enterprise Funds are used to account for operations (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the ( governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b).where the governir,g body has decided that periodic determination of i [ revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. 1 { Internal Service Funds - Internal Service Funds are used to account for the financing of l goods or services provided by one department or agency to other departments or agencies of the City, or to other governments, on a cost-reimbursement basis. 13 f - _ - - - - - - - - - - - - - -
I CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1981 NOTE 1 - (Continued) FIDUCIARY FUNDS Trust and Agency Funds - Trust and Agency Funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governments, and/or other funds. These include Expendable Trust, Pension Trust, and Agency Funds. Pension Trust Funds are accounted for in essentially the same manner as proprietary funds since capital maintenance is critical. Expendable Trust Funds are accounted for in essentially the same manner as governmental funds. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. B. Fixed Assets and Long Term Liabilities The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund are determined by its measurement focus. All Governmental Funds arid Expendable Trust Funds are accounted for on a spending or " financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance (net current assets) is considered a measure of "available spendable resources." Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a wmmary of sources and uses of "available spendable resources" during a period. Fixed assets used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Group of Accounts, rather than in governmental funds. Public domain general fixed assets consisting of certain improvements othar than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems are not capitalized. No depreciation has been provided on general fixed assets. All fixed assets are valued at histo ical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at their estimated fair value on the date donated. Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by non-current liabilities. Since they do not affect current assets, such long-term amounts are not recognized as governmental fund type expenditures or fund liabilities. They are instead reported as as liabilities in the General Long-Term Debt Account Group. The two account groups are not " funds". They are concerned with the measurement of financial position and are not involved with the measurement of results of operations. All Proprietary Funds and Nonexpendable Trust and Pension Trust Funds are accounted for on a cost of services or " capital maintenance" measurement focus. This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Their reported fund equity (net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net total assets. I 14
I CITY OF TALLAHASSEE, FLORIDA I NOTES TO FINANCIAL STATEMENTS September 30,1981 NOTE 1 - (Continued) Depreciation of all exhaustible fixed assets used by proprietary funds is charged as an expense I against their operations. Accumulated depreciation is reported on proprietary fund balance sheets. Depreciation has been provided over the estimated useful lives using the straight line I method, with no depreciation recorded in the year of addition and a full year's depreciation recorded in the year of retirement. The estimated useful lives are as follows: Years Buildings 10-40 Improvements other than Buildings 10-40 I Machinery and Equipment Vehicles 10-65 5-15 C. Basis of Accounting Basis of accounting refers to when revenues or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. All Governmental Funds and Expendable Trust Funds are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become measurable and available as net current assets. The following revenues are considered to be susceptible to accrual: rent revenues, cigarette tax revenue, telephone tax revenue, mobile home taxes and I federal revenue sharing. Interest earned on special assessment levies and interest expense on offsetting long-term debt is not accured unless fully matured and unpaid. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) accumulated unpaid vacation and sick leave which are not accrued; and (2) principal and interest on general long-term debt which is recognized when due. All Proprietary Funds and Pension Trust Funds are accounted for using the accrual basis of I accounting. Their revenues are recognized when they are earned, and expenses when they are incurred. Utility (Electric, Gas, Sewer, Water and Utility Taxes) operating revenues are consistently I recognized on the basis of cycle billings rendered monthly. The cycle of September 28 is con-sistently selected as the cutoff for accrual purposes since the next billing occurs on October 2. D. Budgets and Budgetary Accounting The City follows the following procedures in establishing the budgetary data reflected in the financial statements:
- 1) Prior to August 1, the City Manager submits to the City Commission a proposed operating I budget for the fiscal year commencing the following October 1. The operating budget includes proposed expenditures and the means of financing them.
15
I CITY OF TALLAHASSEE, FLORIDA g NOTES TO FINANCIAL STATEMENTS 3 September 30,1981 NOTE 1 - (Continued)
- 2) Public hearings and workshops are conducted to obtain taxpayer comments.
- 3) Prior to September 30, the budget is legally enacted through passage of an ordinance.
- 4) The City Manager is authorized to transfer budgeted amounts within departments; however, any revision that alter the total expenditures of any department or fund must be approved by the City Commission.
- 5) The General Fund and Special Revenue budgets are prepared on the modified accrual basis of accounting including open purchase orders and discretionary encumbrances. Actual results of operations presented in accordance with generally accepted accounting principles (GAAP) E and the City's accounting policies do not recognize encumbrances (open purchase orders and g discretionary encumbrances) as expenditures until the period in which the actual goods or services are received and a liability is incurred. Encumbrances reported are for budgetary g control purposes only and represent commitments of the City. W The results of operations of th^ General Fund included in the Combined Statement - All Governmental Fur'd Types and Expendable Trusts is prepared on a GAAP basis as described in Note 1(C). Results of operations included in the Combined Statement - Budget and Actual -
General and Special Revenue Fund Types are prepared on a budgetary basis to conform with the principles of Statement 1. The primary difference between the two bases of accounting is the same as the difference described above.
- 6) The City has a five year capital budget. However, budget versus actual financial statements are not preseated for the Captial Projects Funds since most projects have completion cycles >
that span more than one year. Therefore, we are of the opinion that such statements would possibly be confusing to the users of the financial statements.
- 7) All appropriations, except for reserve for encumbrances and open work orders for construction, lapse at the end of the fiscal year.
E. Encumbrances Encumbrances accounting, under which purchase orders, contracts, and other commitments for the expenditures of monies are recorded to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary integration in the General Fund, Capital g Projects Funds and Special Assessment Fund. Encumbrances outstanding at year end are 3 reported as reservations of fund balance since they do not constitute expenditures or liabilities. F. Investments During the year ended September 30,1981, the City established a pooled investment account. g Under this program all available cash which is not legally restricted is pooled together for m investment purposes to insure the highest efficiency ar,d return. Investments are made in various money market instruments including treasury bills, repurchase agreements, certificates of deposits and notes of federal government agencies. Investments are selected based upon 16
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS f September 30,1981 NOTE 1 - (Continued) ( current and anticipated liquidity requirements, yield, market diversification and anticipated market movements; however, in no event are investments purchased which have a maturity { greater than two years. Earnings are distributed to the various funds on a weekly basis according to their percentage of investment. At September 30, 1981, the pooled inv^stment account (" Equity in Pooled Cash") consisted of $81,983,900 of investments and $7,852,900 in cash. Investments are stated at cost plus accrued interest, which approximates market. f G. Bond Discounts and Issuance Costs Bond discounts and issuance costs are deferred and amortized over the term of the bonds using f the bond outstanding method which approximates the interest method. Bond discounts are pre-sented on the financial statements as such and issuance costs are presented as other assets. ( H. Inventory Fuel inventory in the Electric and Tallahassee Transit Funds are stated at lower of cost or f market based upon a moving average cost. Fuel inventory in the Gas and Airport Funds are stated at lower of cost or market utilizing the first-in, first-out (FIFO) method. Material inventory In the Tallahassee Transit Fund, consisting of maintenance parts and tires, are stated at lower of f cost or market utilizing the first-in, first-out (FIFO) method. Inventories held in the Internal Service Funds consist of general office supplies, maintenance parts, tires and fuel held for ( consumption are stated at weighted average cost. Appropriate allowances have been recorded ( for obsolete items. Perpetual inventory records are maintained for all significant inventories. None of the Governmental Funds maintain inventories since such are accounted for in the Internal Service Funds. I. Total Columns on Combined Statement - Overview Total columns on the Combined Statements - Overview are captioned Memorandum Only to l indicate that they are presented only to facilitate financial analysis. Data in these columns do ! not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. { J. Account Classification of Enterprise Funds Classification of the Electric and Gas systems expenses are accounted for and presented in ( accordance with the Uniform Chart of Accounts as promulgated by the Federal Energy Regulatory Commission. Classification of the Water and Sewer Systems expenses are , accounted for and presented in accordance with the Uniform System of Accounts for Class A ( and B Water Utilities as promulgated by the National Association of Regulatory Utility Commissioners. 17
l l CITY OF TALLAHASSEE, FLORlDA g' g NOTES TO FINANCIAL STATEMENTS September 30,1981 NOTE 2 - Restatement of Accounts at September 30,1980 On February 1,1980, the City entered into a contract with a consulting firm, May Zima & Co., E CPA's, the principal objectives of which were the inventory and valuation of enterprise fund fixed 5 assets and the development of a fixed asset accounting and reporting system. The following methodology was used in the performance of the inventory and valuation: all land owned in fee simple and recently acquired easements, where the cost of acquisition is principally associated with enterprise funds, was traced to the legal recordings; other assets were observed, classified and valued based on historical cost where possible. If historical cost was not available, an indexed cost was calculated using the Handy-Whitman index. During the fiscal year ended September 30,1981, the fixed asset inventory was completed. This g inventory resulted in adjustments to recorded plant in service in prior years. These adjustments E were primarily due to, in the inventory and valuation process, the capturing of all costs associated with the fixed assets. The financial statements as of September 30,1980 have been restated to give effect to these adjustments. The net increase (decrease) in plant in service, accumulated depreciation, contributed capital and retained earnings at September 30,1980 and the net income for the year then ended are summarized as follows: Plant in Accumulated Contributed Retained Net Fund Service Depreciation Capital Earnings Income Electric $4,618,400 $ 611,100 $ (59.200) $4,066,500 $(159,200) Gas 1,304,800 285,800 - 1,019,000 (32,600) Water 1,870,700 809,200 (123,100) 1,184,600 45,400 Sewer (1,803,600) 630,200 817,200 (3,251,000) (56,100) g Airport (169,600) - 3,314,700 (3,484,300) - g Taltran - - (812,700) 812,700 - Totals $5,820,700 $2.336,300 $3.136,900 $ 347,500 $(202,500) The adjustment to fund equity amounts to 1.25% of enterprise fund assets as originally reported at September 30,1980. NOTE 3 - Proparty Taxes Under Florida law, the assessment of all properties and the collection of all county, municipal and school board property taxes are consolidated in the offices of the County Property Appraiser and County Tax Collector. The laws of the State regulating tax assessment are also designed to assure a consistent property valuation method statewide. State statutes permit municipalities to levy property taxes at a rate of up to 10 mills. The current millage rate assessed by the City is 2.614. The tax levy of the City is established by the City Commission prior to October 1 of each year and the Leon County Property Appraiser incorporates the City millages into the total tax levy, g which includes Leon County and Leon County School Board tax requirements. g 18
L [ CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS ( September 30,1981 NOTE 3 - (Continued) All property is reassessed according to its fair market value January 1 of each year. Each assessment roll is submitted to the Executive Director of the State Department of Revenue for ( Review to determine if the ro!!s meet all of the appropriate requirements of State statutes. All taxes are due and payable on November 1 of each year or as soon thereafter as the assess-ment roll is certified and delivered to the Tax Collector. All unpaid taxes become delinquent on [- April 1 following the year in which they are assessed. Discounts are allowed for early payment at the rate of 4% in the month of November,3% in the month of December,2% in the mont.h of January and 1% in the month of February. The taxes paid in March are without discount. { Delinquent taxes on real property bear intercst of 18% per year. On or prior to June 1 following the tax year, certificates are sold for all delinquent taxes on real property. After sale, tax [. certificates bear interest of 18% per year or at any lower rate bid by the buyer. Application for a tax deed on any unredeemed tax certificates may be made by the certificate holder after a period of two years. Delinquent taxes on personal property bear interest of 18% per year until the tax is satisfied either by seizure and sale of the property or by the five year statute of limitations. The City does not accrue property tax revenues when levied since the collection of property taxes does not coincide with the end of the fiscal year and since the City consistently has no uncollected property taxes at year end. { [ E [ [ [
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l T I l CITY OF TALLAHASSEE, FLORIDA g NOTES TO FINANCIAL STATEMENTS g September 30,1981 NOTE 4 - Changes in General Fixed Assets During the fiscal year ended September 30,1981, the following changes in general fixed assets occurred: Balance Balance October 1, September 30, 1980 Additions Deletions 1981 Cost Land $ 2,323,10Cx 806,300 $ - $ 3,129,400 Buildings 4,902,100 1,546,700 - 6,448,800 Improvements other g than buildings 3,078,500 580,100 - 3,658,600 g Equipment 3,412,000 431,700 - 3,843,700 Vehicles 669,600 105,300 - 774,900 g Construction in g Progress 1,052,500 2,833,300 - 3,885,800
$15,437,800 $6,303,400 $ - $21,741,200 investment in General Fixed Assets Capital Projects Funds $ 8,920,300 $5,064,500 $ - $13,984,800 g General Fund g Revenuee 6,203,300 1,238,900 -
7,442,200 Gifts 314,200 - - 314,200
$15,437,800 $6203,400 $ - $21.741,200 A summary of proprietary fund type fixed assets at September 30, 1981 follows:
E_nterprise Iriternal Service intangible Assets $ 777,200 $ - Land !,330,300 37,000 Structures and Improvements 35,643,300 - 426,400 Equipment 240,090,200 546,100 Vehicles 3,227,200 6,947,800 Construction in Progress 13,472,500 g Total 297,540,700 7,957,300 g Less: Accumulated Depreciation 71,615,300 3,654,900 Net $223,925,400 $4,302,400 I 20-
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1981 NOTE 5 - Financial Segment Information of Enterprise Funds The City maintains six Enterprise Funds which provide electric, gas, sewer, water, airport and mass transportation services. Segment information for the year ended September 30,1981 was as follows: H Tallahassee Total Electric Gas Sewer Water Airport Transit Enterprise u Fund Fund Fund Fund Fund Fund Funds s Opsrating Revenues $ 82,235,500 $ 6.369,800 $ 6,574,400 $ 3,994.100 $ 2.965,500 $ 663.000 $102,802,300 I Depreciation and Amortization Expense $ 8,091.300 $ 193,700 $ 1.359,800 $ 351,800 $ 493,800 $ 189.600 $ 10,680,000 Operating income or r (Loss) $ 18,944,900 $ 1.015.100 $ 1,375,600 $_1,473,000 $ (1,800) $ (1,311,300) $ 21,495,500 I i Operating Transfers: In Out
$ 77,800 $
$ 15,307,300 $
20,500 $ 1.130,900 $ 1,330,000 $ 776,700 $ 1,197,200 $ 762,600 $ 474,300 $ 500 $
$ 3,033,500
$ 18,044,300 Net income or (Loss) $ 2,222,100 $ 402,900 $ 1,868,800 $ 2.458.500 $ 467.300 $ (1,305.100) $ 6,114,500 Current Capital:
Contnbutions 5 -
$ - $ 6.316,500 $ -
$_1,783,900 $ 1,978,000 $ 10.078,400 Restricted Assets $ 31,347,500 $ 794,300 $ 11,603,400 $ 4.654,400 $ -
$ - $ 48.399,600 Property, Plant and
[ Equipment: Additions $ 7.613,900 $ 284,400 $ 10,247,500 $ 2,658,700 $ 2,128,800 $ 551,000 $ 23.484,300 Deletions $ 65.700 $ -
$ 1,900 $ 67,600 Net Working Capital $ 9.953,200 $ 285.100 $ 86,000 $ 345,200 $ 1,322,100 $ 631,800 $ 12,623,400 Total Assets $194,869.200 $ 5,793.100 $ 58,020,400 $ 19,443,900 $ 14,915,900 $ 3,372,300 $296,414,800 Bonds and Other Long-term Liabilities:
I Payable from Operating Revenues $124,005,000 $ 615,500 $ 15.996,000 $ 5,698,500 $ 1.379,700 $ -
$147,694,700 Total Equity 5 65,754,000 $ 4,758.900 $ 38,959,700 $ 12,844,300 $ 12,918,000 $ 3.331,200 $138,566,100 I
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I' CITY OF TALLAHASSEE, FLORlDA g NOTES TO FINANCIAL STATEMENTS g September 30,1981 NOTE 6 - Changes in Reserved Retained Earnings - Proprietary Funds l The following changes occurred in reserved retained earnings Of the various proprietary funds during the year ended September 30,1981: E ] Internal Service g li Total Internal Fund-Enterprise Service Reading Funds (Memo- Fund- Billing & J Electric Gas Sewer Water Airport randum Only) Garage Conection Reserved Retained Earnings
- October 1,1980 Reserved for Revenue Bonds Debt Service $ - $ 4.000 $ 24.100 $ 8,400 $ - $ 36,500 $ - -
j Revenue Bonds Reserve 10.966,200 132.000 1,337.300 471.900 - 12,907,400 - - l Revenue Bonds Renewal and Replacement 13,614,100 353,500 274.500 329,000 - 14.571,100 - - i Revenue Bonds Construction 3.303.600 24.000 9,775,500 3.805,200 - 16.908,300 - - l Other Construction 3.392,800 - - - 25.200 3.418.000 - - Fleet Management - - - - - - 1.328.900 - Law Enforcement - - - - - - Total Reserved Retained W Earnings - October 1,1980 31.276.700 513.500 11.411.400 4.614.500 25.200 47.841.300 1.328.900 - Add Incorre Earned on Restricted Assets 573.600 113.600 1.491.100 692,500 24,500 2.895.300 - - Transfers from Other Funds - 16.600 490.300 1,330.000 486.700 2,323.600 - 30.000 increase in Fleet E Management Reserve - 10.918,600 407,900 12.586,000 433.200 - g increase in Debt Service Reserve 106.500 1.153.000 - - - Renewal and Replacement Funding 5.216.000 500.000 550,000 365.000 - 6,631,000 - - Increase in Bonds Construction Reserve 2.860.800 - - - - 2.860.800 - - Increase in Other Construction 226.000 - 5,370.700 - 1,887,700 7.484.400 - - Deduct Payment of Bond Pnncipal (3.860.000) (102.500) (387,500) (145,000) - (4,495.000) - - Transfer to Other Funds (245,000) (62.000) (697,100) (14,700) (15.600) (1.034,400) - - Decrease in Revenue Bonds Reserve (165.800) (16,300) - - - (182,100) - - Interest and Fiscal Charges (7,058,600) (24.300) (937,200) (329.500) - (8.349.600) - - Transfer of Fixed Assets (8.469.600) (284.400) (8.439.700) (2,514.500) (2,121,700) (21.829.900) (129.900) - Decrease in Bonds Construction Reserve - (45.700) - - - (45.700) - - Decrease in Other Construction Reserve - - - - (286,800) (286.800) - Het increase (Decrease) in Reserved Retained barnings (4.000) 201,500 (1,406.400) (208,300) (25.203) (1.442.400) 303.300 30.000
$31.272.700 $715.000 $10.005.000 4,406.200 $ - $46.398.900 $1.632,200 $30.000 Reserved Retained Eamings -
September 30,1981 Reserved for Revenue Bonds Debt Sennce $ - $ 9 00 $ 50.700 $ 8.600 $ - $ 69.100 $ - $- l Revttnue Bonds Reserve 10.800,400 130.500 1.336.100 462.700 - 12,729,700 - - g Revenue Bonds Renewal and Replacement 13.753.200 574,700 689.100 355,700 - 15.372.700 - - Revenue Bonds Constructon 2.996.800 3,722,300
- 7.629,100 300.000 3.579.200 -
14 205.130 4.022.300 E g Other Construction - - - Fleet Management - - - - - - 1.632,200 - Law Enforcement - - - - 30.000 Total Reserved Retained Earn:ngs 3
- September 30,1981 $31.272,700 $715.000 $10.005.000 $4.406.200 $ - $46.398.900 $1.632.200 $30.000 22
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS { September 30,1981 NOTE 7 - Long Term Debt i GENERAL LONG TERM DEBT l CAPITAL BONDS, SERIES 1978 AND 1981 BOND ANTICIPATION NOTES The Series 1978 Bonds and the 1981 Bond Anticipation Notes are dated June 15,1978 and April l 1,1981 and were issued in the original principal amount of $38,000,000 and $20,000,000 l respectively. The 1981 Notes were authorized and validated for $25,000,000, only $20,000,000 have been issued. The Series 1978 Bonds are secured by a gross pledge and first lien upon l certain non ad valorem revenues of the City. The 1981 Notes are payable and secured by a lien on the first proceeds of the sale of the Capital Bonds, Series 1981, and if such proceeus are not forthcoming on or prior to the maturity of the Notes by a junior and subordinate pledge of l certain non ad valorem revenues of the City. The proceeds of the 1978 Bonds were used to: refund the outstanding Capital Bonds Series ! 1973 and Capital Bonds Series 1976 and 1977 Anticipation Notes in the aggregate amount of l I $31,050,000; refund the outstanding Mui.:cipal Hospital Utility Tax Revenue Bonds Series 1956, 1957 and 1967 in the aggregate principal amount of $2,706,000; and provide additional bond proceeds to construct hospital, bridge, and other general government projects. The Capital Bonds Series 1978 refunding program used the invested sinking fund technique whereby United States Treasury Bonds, maturing November 15, 2007 (Invested Sinking Fund Securities), are purchased by the City at a fixed price pursuant to a securities purchase contract with the Industrial National Bank of Providence, Rhode Island and held in trust by Capital City First National Bank of Tallahassee for the retirement of the Term Bonds due in 2007. l The security purchases began with the issuance of the Series 1979 Bonds and will continue g through April 15,1993 at which time there will be accumulated in the escrow account an amount 5 sufficient to retire the 2007 Term Bonds when they become due. During this time, the City deferred all principal payments with retirement of principal resuming on November 15,1993. Under the Resolution, the City is required to make monthly payments (the Amortization installments)into the 2007 Sinking Fund Account in the Bond Service Fund for the purchase of the Invested Sinking Fund Securities, such payments are on a parity with its obligation to make payments with respect to principal and interest on the Series 1978 Bonds. The Amortization l Installments are to be paid over by the City to the Bank, which is to acquire Sinking Fund Investments and deposit tnem with the Sinking Fu'nd Trustee on each May 15 and November 15. If the City fails to purchase or the Bank fails to deliver the Sinking Fund Investments in accordance with the Securities Purchase Agreement, the Securities Purchase Agreement provides for options to terminate and payment of damages and the City is then obligated to acquire direct obligations of the United States maturing not later than the due date of the 2007 Term Bonds Mr deposit with the Sinking Fund Trustee in accordance witn the schedule of required deposits set forth in the Resolution. l Holders of the 2007 Term Bonds have a pledge of, first lien on, and security interest in the g Sinking Fund Investments deposited with the Sinking Fund Trustee, together with the income g earned or accrued thereon from time to time. So long as there has been no failure by the City to l 23 1
I CITY OF TALLAHASSEE, FLORIDA g NOTES TO FINANCIAL STATEMENTS g September 30,1981 NOTE 7 - (Continued) pay principal of or hterest on or Amortization Installments for any Bonds when due, earnings on the Sinking Fund investments will be paid to the City for deposit in the Bond Service Fund and applied as a credit against the current Bond Service interest on the 2007 Term Bonds and any excess shall be paid into the Bond Service Fund. Pursuant to the terms of the Resolution, the City covenants to set up and appropriate in the annual budget for expenditures in each fiscal year sufficient amounts of the Pledged Revenues to pay 100% of the Bond Service Requirement becoming due in Euch year on all the outstanding g Bonds, plus 100% of all other payments required by the Resolution, including payments to a E Reserve Account. The Resolution provides that the first Pledged Revenues received on or after the twentieth day of each month are to be applied first to make the required deposit for such month to the Bond Service Fund and then to the Reserve Account established under the Resolution. The Resolution further provides that the balance of any Pledged Revenues remaining in the General Fund after the required transfers to the Bond Service Fund and the Reserve Account may be used for any lawful purpose. The Resolution provides that the covenant of the City to budget and appropriate sufficient amounts of the Pledged Revenues to make all payments required by the Resolution shall be cumulative and shall continue until the Pledged Revenues in amounts sufficient to make all required payments shall have been budgeted, appropriated and actually paid as required in the Resolution. Pledged Revenues are all those revenues of the City now or hereaf ter legally available to make the payments required by the Resolution,'except revenues of the City derived from ad valorem taxation and from the operation of its municipal hospital and its airport. Current principal g sources of Pledged Revenues include monthly revenues from current services (principally fees g for garbage collection); State Revenue Sharing (guaranteed entitlement portion); proceeds of a 10% tax on purchases of electricity, metered or bottle gas, local telephone and telegraph services and water services; licenses; and " uncommitted revenues" of the City's electric generating and distribution, gas and water systems. The Resolution defines uncommitted revenues of these systems to mean the revenues thereof remaining after provision for payment of the operation and maintenance expenses of the system, bond debt service on bonds now outstanding and hereafter issued and payable solely from the revenues of such system and all other payments required under the instruments authorizing such bonds. The holders of the Series 1976 Bonds do not have a lien on the City's electric, gas, water or sewer system revenues except such unccmmitted revenues, and there can be no assurance thct uncommitted revenues will continue to be derived from such systems. The Series 1978 Bonds do not constitute general obligations of indebtedness of the City, of Leon County, the State of Florida or any other political subdivision of the State, within the meaning of any constitutional, statutory, or other provision or limitation, and the holders thereof shall never have the right to require or compel the exercise of the ad valorem taxing power of the City for the payment of the principal of or interest oa the Series 1978 Bonds. The 1981 Notes were sold May 26, 1981 to mature April 1,1983 with interest payable semi-annually April 1 and October 1. The proceeds will be used to construct a new city hall, municipal services building, fire stations, park and recreation projects, and certain other public works 24
CITY OF TALLAHASSEE, FLORIDA ( NOTES TO FINANCIAL STATEMENTS , September 30,1981 NOTE 7 - (Continued) project. The City's intent is to issue Series 1981 Bonds to retire the 1981 Notes. These Bonds f when sold will be pari passu with the outstanding 1978 Bonds. PROPRIETARY FUNDS ELECTRIC REVENUE BONDS, SERIES 1977 AND 1981 ANTICIPATION NOTES The Series 1977 Electric Revenue Bonds and the 1981 Electric Revenue Bonds Anticipation Notes dated March 1,1977 and April 1,1981 were issued in the principal amount of f $134,245,000 and $3,000,000 respectively. The 1981 Notes were authorized and validated for
$4,000,000, only $3,000,000 have been issued. The 1977 Bonds are secured by a first and prior claim on the net revenues of the municipal electric system. The 1981 Notes are payable and secured by a lien on the first proceeds of the sale of Electric Revenue Bonds, Series 1981, and if such proceeds are not forthcoming on or prior to the maturity of the Notes, by a junior and subordinate lien upon the net revenues of the municipal electric system.
{ The proceeds of the 1977 Bonds were used to refund $129,245,000 of outstanding electric revenue and power supply bonds (various issues) and to provide $7,200,000 of additional f electric improvements. The proceeds from the 1981 Notes are being used to provide a portion of the funds necessary to construct a tie line and related interconnection facilities between the City and Georgia Power Company (approximately 15 miles) The covenants require prior to the issuance of additional parity bonds that:(1) the city not be in default of any of the covenants and obligations required in the resolution have been met;(2) that ( a certificate from a CPA shall be obtained stating that the rate covenant has been met;(3) that the City shall have its consulting engineer certify that the annual net revenues of the facilities from date of delivery of the obligations through the first full year following commercial obligation f are at least 1.40 times the bond service requirement (excluding capitalized interest); (4) the City shall obtain a certificate from its consulting engineer showing that the net revenues of the p facilities by the second full year following commercial obligation are equal to 1.40 times t maximum debt service (without reduction for capitalized interest). The City further covenants to maintain rates and chaiges such that the net revenues of the system are at least 125% of the bond service requirement, and provide 100% of the funds necessary to make the other required { deposits into the Reserve Fund and Renewal Replacement and Improvement Fund are made monthly and equal to 1/12 of $1,500,000 plus 15% of the gross revenues of the facilities from { retail sales for the previous years plus bulk power sales after deducting 100% of the fuel expense. All funds remaining on deposit after all operating and maintenance expenses, debt service payments, required reserve deposits, renewal replacement and improvement deposits, j [ may be used for any other legal purpose including transfers to the General Fund.
)
The 1981 Notes were sold on May 26,1981 to mature on April 1,1983 with interest payable semi-annually April 1 and October 1. The 1981 Bonds when sold will be on a parity with the { City's outstanding 1977 Bonds and will rank equally as to lien on the pledged revenues. 25
)
l
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1981 NOTE 7 - (Continued) WATER AND SEWER REVENUE BONDS SERIES 1958 and 1964 The Series 1958 and 1964 Bonds dated May 1,1958 and May 1,1964 were issued in the original principal amount of $1,200,000 and $2,000,000 respectively and have a first and prior claim on the revenues of the Water and Sewer Systems. Principal maturities are on May 1 with interest due semi-annually on November 1 and May 1 of each year with final maturity of the Series 1964 Bonds on May 1,1987. The proceeds of these issues were used to finance the construction of additional water and sewer transmission and treatment facilities, and such proceeds were divided between water and sewer projects as follows: SERIES 1958 SERIES 1964 WATER 25 % 25 % SEWER 75 % 75 % The City subsequent to the sale of these issues in the resolution authorizing the Municipal Utility Revenue Bonds covenanted not to issue any additional bonds on a parity with the Water and Sewer Revenue Bonds. All future water and sewer expansions, extensions and improvements will be financed through the sale of Municipal Utility Revenue Bonds. MUNICIPAL GAS REVENUE BONDS, SERIES A, B, AND C The Series A Bonds dated January 1,1955; Series B Bonds dated January 1,1956 and Series C Bonds dated January 1,1957 were issued in the original principal amount of $1,000,000;
$500,000 and $500,000 respectively and are parity bonds with a first and prior claim on the net revenues of the Gas System. Principal matur.ities are on January 1 of each year with interest becoming due and payable on January 1 and July 1 of each year. The final maturities of the Series C Bonds is on January 1,1987. The proceeds of these issues were used to finance improvements and extensions to the gas system. The City subsequently pledged in the resolution '
authorizing the Municipal Utility Revenue Bonds, not to issue any additional gas revenue parity bonds. MUNICIPAL UTILITY REVENUE BONDS SERIES 1970,1970 A AND 1979 The Series 1970 Bonds dated October 1,1970; the Series 1970-A Bonds dated October 1,1970 and the Series 1977 Bonds dated April 1,1979 were issued in the original principal amount of
$7.300,000; $3,150,000 and $12,000,000 respectively and are parity bonds and are subordinates I as to lien and security for payment to the outstanding Municipal Gas Revenue Bonds Series A, B and C, and the outstanding Municipal Water and Sewage Revenue Bonds, Series 1958 and 1964, from the net revenues of the Municipal Gas, Water and Sewer Systems. Principal maturities are on October 1 of each year with interest becoming due and payable April 1 and October 1 of each year. Final maturity of the Series 1979 Bonds is on October 1,2001. The proceeds of the issues were used for construction among the various utilities in the following percentages:
26 I
CITY OF TALLAHASSEE, FLORIDA E E NOTES TO FINANCIAL STATEMENTS l September 30,1981 NOTE 7 - (Continued) GAS WATER SEWER MUNICIPAL UTILITY OF 1970 2% 20 % 78 % MUNICIPAL UTILITY OF 1970-A - 53 % 47 % MUNICIPAL UTILITY OF 1979 - 23 % 77 % The bonds payable, related to the Municipal Utility Revenue Bond issues, reported in the Gas, Water and Sewer Funds are based upon the same percentages. Prior to the issuance of any additional parity bonds, the net revenues of the Municipal Utility System shall be (a) at least 135% of the Maximum Debt Service during the immediately preceding two fiscal years as determined by a certified public accountant; (b) at least 150% of the Maximum Debt Service during any 12 consecutive months period in the immediately preceding 24 months as adjusted by the consulting engineer for known changes;(c) at least 150% of the Maximum Debt Service as estimated by the consulting engineer in each of the three fiscal years immediately following as adjusted by the consulting engineer for known changes. The City further covenants in the resolution to: (1) maintain rates and charges in each fiscal year at least equal to 125% of all debt service requirements to come due in such fiscal years and provide for 100% of all payments or deposits required to be made; (2) deposit annually into a depreciation and improvement fund an amount equal to 10% of the prior years gross revenues to be used for improvements and extensions to the gas, water, and sewer system; (3) not render any free service; (4) annually cause the books and records of the systems to be audited by a certified public accountant. The following is a summary of bond transactions of the City for the year ended September 30, 1981. Proprietory General Long-term Debt Funds Debt General Revenue Anticipation Revenue Anticipation Total City Bonds Notes Bonds Notes Debt Bonds Payable at October 1,1980 $38,800,000 $2,500,000 $147,810.000 $ -
$189,110,000 New Bonds issued:
1981 Anticipation Notes - 20,000,000 - 3,000,000 23,000,000 Bonds Retired - (2,500,000) (4,495,000 - (6.995,000 Bonds Payable at September 'O,1981 $38,800,000 $20,000,000 $143,315,000 $3,000,000 $205.115,000 I , 27
, CITY OF TALLAHASSEE, FLORIDA g
- NOTES TO FINANCIAL STATEMENTS El
- September 30,1981 NOTE 7 - (Continued) i
- Schedule of Principal Requirements - All Funds General Long Term Debt Proprietary Fund Fiscal Year General Water & Municipa' Total Ending Revenue Anticipation Sewer Utility Pnncipal September 30, BondsU) Notes (2) Electric (2) Gas Bonds Bonds Payments i 1982 $ 835,000 $ 4,005,000 $100,000 $100,000 $ 450,000 $ 5,490,000 i 1983 810,000 $20,000,000 7,210,000 100,000 100,000 480.000 28,700,000 i 1984 930,000 4,395,000 105,000 100,000 515,000 6,045,000
! 1985 1,010,000 4,600,000 105,000 100,000 550,000 6,365,000 1986 1,090,000 4,820,000 50,000 100,000 635,000 6,695,000 l ! 1987 1,185,000 4,265,000 25,000 100,000 700,000 6,275,000 l 1988 1,275,000 4,490,000 860.000 6,625,000 i 1989 1,380,000 4,720,000 925,000 7,025,000 j 1990 1,490,000 4,970,000 965,000 7,425,000 1 1991 1,640,000 5.235,000 1.030,000 7,905,000 } 1992 1,760,000 5,525,000 1,095,000 8,380,000 1993 1,815,000 5.830,000 1,165,000 8.810,000 t 1994 2,055,000 6.165,000 1,235,000 9,455,000 g l 1995 2,085,000 6,565,000 1,305,000 9,955,000 g i 1996 2,290,000 3,445,000 1,375,000 7,110,000 l 1997 2,440,000 3,560,000 1,405,000 7.405,000 l 1998 2,605,000 3.840,000 1,490,000 7,935,000 2,765,000 4.070,000 1,580,000 8,415,000 j 1999 ! 2000 2,965.000 4,315,000 1,680,000 8,960,000 ! 2001 2,110,000 4,570,000 1,785,000 8,465,000 ! 2002 1,910,000 4,850,000 6,760,000 l 2003 5,150,000 5,150,000 i 2004 5,460,000 5,460,000 2005 5,795,000 5,795,000 l 2006 6,155,000 6.155,000
$36,445,000 $20,000,000 $124,005,000 $485,000 $600.000 $21,225,000 $202,760,000
- 1. Portions of the pnncipal requirements relating to the Capital Bonds, Series 1978, are required purchases of U. S.
l Treasury Bonds to be held by a trustee for the retirement of the $17,575,000 Term Bond (2007 Term Bond) to j become due on November 15,2007. The City will be required to have purchased an amount of November 15,2007 l U. S Treasury Bonds by May 15,1993 such that the 2007 Term Bond can be fully retired from the proceeds of the aforementioned U. S. Treasury Bonds. l
- 2. On May 26,1981, tne $3,000,0001981 Electric Revenue Bonds Anticipation Notes were sold. These notes mature
! on April 1,1983 &nd are payable from the first proceeds of the Electric Revenue Bonds, Series 1981. Also on May l 26,1981, the $20,000,000 Capital Bonds, Series 1981 Anticipation Notes. These notes mature on April 1,1983 and I are payable from the first proceeds of the Capital Bonds, Series 1981, I I 28
[ CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS ( September 30,1981 NDTE 7 - (Continued) Schedule of Bond Service Requirements - All Funds General Long Term Debt [ Proprietary Fund Water and Municipal Fiscal Year General Electric Gas Sewer Utility Ending Revenue Anticipation Revenue Revenue Revenue Revenue [ S:ptember 30, Bonds Notes Bonds Bonds Bonds Bonds Total 1982 $ 2,997,359 $ 1,750,000 $ 11,032,140 $115,182 $114,600 $ 1,682,628 $ 17,691,909 1983 2.908,437 20,875,000 13,931,673 111,655 111,000 1,687,165 39,624,930 [ 1984 1985 2,959,129 2,962,879 10,795,972 10,796,605 113,175 109,549 107,400 103,800 1,695,015 1,700,490 15,670,691 15,673,323 1986 2,% 0,422 10,795,805 51,819 100 200 1,753,590 15,661,836 1987 2,965,926 10.004,625 25,450 100,100 1,781,265 14,877,366 1988 2,959,575 10,016,375 - - 1,899,977 14,875,927 1989 2,960,356 10.015.140 - - 1,913,740 14,889,236 1990 2,957,925 10.014,980 - - 1,900,890 14,873,795 1991 2,985,403 10,011,600 - - 1,911,015 14,908,018 [. . 1992 2,972,702 10,013,675 - - 1,916,890 14,903,267 1993 2,886,638 10.009,275 - - 1,923,170 14,819,083 1994 3,025,928 10,006,135 - - 1,925,130 14,957,193 1995 2,935.330 10,048,565 - - 1,920,985 14,904,880 1996 3,011,828 6.549,795 - - 1,914.072 11,473,695 1997 3,020,412 6,462,985 - - 1,876,223 11,359,620 1998 3.032,252 6,536,505 - - 1,879,030 11.447,787 1999 3,026,258 6,532,265 - - 1,881.120 11,439,643 2000 3,048,004 6,528,995 - - 1,887,900 11,464,899 2001 2,000,407 6,520,780 - - 1,892,100 10 413,287 2002 1,696,567 6,522,010 - - - 8.218,577 2003 (317,113) 6,526,160 - - - 6,209.047 2004 (317,113) 6,522,010 - - - 6,204,897 2005 (317,113) 6,523,950 - - - 6,206,837 2006 (317,113) 6.530,455 - - - 6.213,342 2007 (317,113) - - - - (317,113) 2008 (158.556) - - - - (158,556)
$58,529,616 $22,625,000 $219,246,475 $526,830 $637,100 $36,942,395 $338,507,416
[ [ [ [ [ . 29
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1981 NOTE 8 - Other Required Individual Fund Disclosures Generally accepted accounting principles require disclosure as part of the Combined Statements - Overview, of certain information concerning individual funds including: A) Segment information for certain individual Enterprise Funds. This requirement is met by note 5. B) Summary disclosures of debt service requirements to maturity for all types of outstanding debt. This requirement is met by note 7. C) Summary disclosures of changes in general fixed assets by major asset class. This requirement is met by note 4. D) Summary disclosures o' changes in general long-term debt. This requirement is met by note 7. E) Deficit fund equity balances of individual funds. There are no individual funds with a deficit fund equity at September 30,1981. F) Individual fund interfund receivable and payable balances. Such balances at September 30, 1981 were: Interfund Interfund Fund Receivables Payables Capital Projects Fund: g Capital Improvement Fund $557,000 $ - 5 Special Assessment Fund - 557.000
$557,000 $557,000 i G) Excess of expenditures over appropriations in individual funds. There were no individual funds with an excess of expenditures over appropriations at September 30,1981.
l I I I 30
L [ CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1981 { NOTE 9 - Retirement Commitments The City maintains five separate single employer pension plans for firemen, police officers and substantially all other full-time employees. All plans are contributory with the employee contribution ranging from 5% to 7% of gross salary. Employee contributions are 100% refundable if the employee elects to terminate his vesting rights or is not vested at the date of employment termination. ( As of October 1,1980 (date of the most recent actuarial valuation), selected actuarial data for each of the plans is as follows: City Municipal Police { Employees Employees Firemen's Officers' Policemen's Pension Retirement Pension Retirement Pension Fund Fund Fund Fund Fund ( Unfunded Past Service Cost $13,660,700 $ 473,300 $3,669,900 $3,028,000 $ (14,200) Recommended City Contributions Amounts $ 1;356,700 $ 928,000 ,$ 252,800 $ 161,300 None [ As a Percent of Payroll 19.54 % 9.19 % 12.26 % 6.80 % - { Net Assets Available for Benefits $15.020,500 $8,745,600 $5,724,200 $4,470,600 $208,600 Statement of Financial Accounting Standards No. 36, " Disclosure of Pension Information", requires the following additional information be disclosed; 1) the actuarial present value of vested accumulated pian benefits,2) the actuarial present value of nonvested accumulated plan benefits, and 3) the assumed rate of return used in determining the actuarial present values of vested and nonvested accumulated plan benefits. This information was not available as of the [ October 1,1980 actuarial valuation but will be disclosed in future years. [ ! [ l [ [ 31 F -- -
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1981 NOTE 9 - (Continued) Pension expense of the respective City funds for the year ended September 30,1981 are as follows: General Fund Firemen $ 217,100 Police 263,000 Other City Employees 965,900
$1,446,000 Electric Fund $ 491,500 Gas Fund $ 55,500 Water Fund $ 76,900 Sewer Fund $ 160,000 Airport Fund $ 65.300 Tallahassee Transit Fund S 81,900 Warehouse Fund $ 9,900 Data Processing Fcnd $ 47.400 Reading, Billing, and Collec' ion Fund $ 78,200 Garage Fund $ 58,500 Accounting Fund $ 55,400 Purchasing Fund $ 11,000 Human Resources Fund S 32,300 Pension Administration Fund $ 1,200 Pension expense is determined based upon an actuarial valuation using the entry age normal method. This valuation is performed annually. The actuarial valuation is performed at the beginning of the preceding fiscal year for the five plans and is used to determine the pension funding required during the next budget year. Pension expense includes r;crmal cost and amortization of past service cost over a 30-year period. The City's policy is to fund pension expense as determined by the actuarial valuation.
Administrative expenses are paid from the earnings of the respective pension fund assets and are accounted for in the Pension Administration Fund. NOTE 10 - Receipts from Tallahassee Regional Memorial Medical Center, Inc. Tallahassee Regional Memorial Medical Center, Inc., a not-for-profit corporation, pays the City of Tallahassee as rent each year an amount equal to the entire debt service (including principal and interest) necessary to retire all bonds or certificates, or the pro rata share thereof, issued by g the City of Tallahassee for enlargement or extension of its municipal hospital, to acquire W 32 I
I CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1981 NOTE 10 - (Continued) I furnishings or equipment or to purchase any sites therefore. Payments are made in monthly installments and will continue until the bond indebtedness has been retired or refunded. The transfer of the rent payment to the Debt Service Fund is included in the Special I Appropriations account of the General Fund and is recorded as revenue in the Debt Service Fund. The following is a schedule by years of the payments to be received as of September 30,1981: I Year Ending September 30: 1982 $ 1,575,900 1983 1,570,300 1 1984 1,579,900 1985 1,580,800 g 1986 1,582,900 g Later Years 23,627,800 Total Payments Required $31,517,600 NOTE 11 - Commitments and Contingencies A) Accrued Vacation and Sick Leave All full-time employees earn vacation and sick leave starting with the first day of employment, all part-time employees earn vacation and sick ieave in proportion to the number of hours in their
- I normal work day.
Vacation leave is accrued based on years of continuous and creditable service as follows: Years of Service Total Days Per Year Up to 5 12 5 to 10 15 10 to 20 18 Over 20 21 A maximum of 30 days vacation leave time may be carried over from one fiscal year to the next. An employee who terminates employment with the City is paid for any unused vacation leave accumulated to the time of termination. Sick leave is accrued at the rate of eight hours for each month of service with no maximum limit on the number of hours which may be accumulated. An employee who terminates from the City for any reason other than retirement (as defined by the provisions of the appropriate City Pension Plan) or death, does not receive payment for unused sick leave. If the employee retires or dies, the employee (or his beneficiary or estate) is paid one quarter of the total amount of sick leave accumulated by him or her on the effective date of his or her retirement. As of September 30,1981 the City is contingently liable for approximately $1,598,500 of annual vacation leave earned but not taken and $6,344,600 of sick leave accumulated but not taken. I I
I CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1981 NOTE 11 - (Continued) B) Outstanding Contracts At September 30,1981, the City had an unpaid balance of $22,865,000 on various contracts for construction and other projects. C) Litigation The City has been named as defendant in a lawsuit relating to their providing of water and sewer services in Leon County, Florida. The Plaintiffs initiated the suit against the City alleging violations of Sections 1 and 2 of the Sherman Act and Sections 542.18 and 542.19, Florida Statutes. Plaintiffs allege that the City has violated the aforementioned statutes by monopolizing or alternatively attempting to monopolize the providing of water and sewer services within Leon County, Fiorida; by dividing utility service territories with horizontal competitors; and by imposing a tying arrangement on custome'rs purchasing sewer services from the City. Since the filing of the complaint, the parties have been engaged in discovery through the use of interrogatories, requests for production of documents and depositions. As of the date of this g report, discovery is continuing. Although counsel for the City believe the City has meritorious a defenses to the Plaintiffs' claims, they are unable to express an opinion as to whether an unfavorable outcome to the City is either remote or probable. They are also unable to provide an accurate estimate of the amount or range of potential loss; however an unfavorable decision could have an adverse impact on the financial position of the City. The City is also involved in other pending lawsuits. The City Attorney estimates that the potential claims against the City not covered by insurance resulting from such litigation would not materially affect the financial position of the City. D) Federal Grants The City participates in a number of federally assisted programs, principal of which are the l Environmental Protection Agency 201, General Revenue Sharing, Urban Mass Transportation Authority, Community Development Block Grant, Comprehensive Employment Training Act and the Federal Aviation Authority programs. These programs are subject.to program compliance audits by the grantees under Office of Management and Budget Circular A-102, Attachment P. The audits of these programs for or including the year ended September 30,1981 will be issued under separate report. The amount, if any, of expenditures which may be disallowed by the granting agencies is immaterial to the City's Combined Financial Statements. I I I 34
[ [ [ [ 2 COMBINING STATEMENTS - BY FUND TYPE These financial statements provide a more detailed view of the
" General Purpose Financial Statements" presented in the pre-
[ ceding subsection. Combining statements are presented when there are more than [ one fund of a given fund type. ~ Individual statements for the Debt Service and Special Assessment Funds and the General Fixed Assets and General Long-term Debt Account Groups have not been presented since each of these Indi-vidual Funds and Account Groups have been presented in their en-tirety in the General Purpose Financial Statement Section and therefore presentation in this section would be redundant. [ l l E E T - - - - - - - - -
E E E E E GENERAL FUND p The General Fund accounts for all financial resources not prop-L erly accounted for in another fund. Revenues and expenditures of the Federal Revenue Sharing Program are accounted for in this fund. m M E w E m
1 CITY OF TALLAHASSEE, FLORIDA GENERAL FUND l BALANCE SHEET September 30,1981 l Totals September September 30,1981 30,1980 ASSETS Equity in Pooled Cash $1,143,100 $ 875,900 l Receivables: Customers 419,700 353,600 Other 353,800 354,100 Less: Allowance for Doubtful Accounts (33,400) (32,100) Due from Other Funds - 547,100 Total Assets I l LIABILITIES AND FUND EQUITY
$1,883,200 $2,098,600 l
I Liabilities l Accounts Payable $ 90,000 $ 51,700 g Due to Other Funds - 32,000 3 Total Liaoilities 90,000 83,700 Fund Equity Reserve for Encumbrances 256,100 347,700 Reserve for CETA W 'rkmen's Compensation - 81,900 Undesignated 1,537,100 1,585,300 Total Fund Equity 1,793,200 2,014,900 l Total Liabilities and Fund Equity $1,883,200 $2,098.600 l I 1 I l l l 35 l - - - - - - - - - - -
I CITY OF TALLAHASSEE, FLORIDA g GENERAL FUND g SCHEDULE OF REVENUE BY SOURCE: BUDGETED AND ACTUAL For the Fiscal Year Ended September 30,1981 Variance g Favorable u Budget Actual (Unfavorable) Revenues: Taxes: Property Taxes $3,159,000 $3,087,700 $ (71,300) Additional Homestead Exemption 72,000 74,700 2,700 Telephone Taxes 856,000 848,400 (7,600) 10% Utility Tax 2,450,400 2,996,100 545,700 Cigarette Tax 300,000 318,100 18.100 Total Taxes 6,837,400 7,325,000 487,600 Licenses and Permits: Occupational License 280,000 337,400 57,400 Building Permits 120,000 228,100 108,100 City Share - County Occupational License 94,000 70,500 (23,500) Telephone Franchise 127,000 129,200 2,200 Parking Meter Receipts 62,000 66,100 4,100 E Mobile Home License 10,000 14,800 4,800 g Beverage Licenses 45,000 57,100 12,100 40,000 77,900 37,900 Cable T.V. Franchise g Total Licenses and Permits 778,000 981,100 203,100 W Intergovernmental Revenues: E Recovered costs from cost allocation plan - 6,100 6,100 g State of Florida Revenue Sharing 2,780,000 2,916,200 136,200 Recovered costs from Federal Government 885,300 675,200 (210,100) g Federal Revenue Sharing 672,000 662,200 (9,800) E Leon County Funding of Planning Department 236,400 125,400 (111,000) l Tallahassee Regional Memorial Medical Center 1,595,800 1,595,800 - g Recovered costs from other local grants - 50,900 50,900 m Total Intergovernmental Revenues 6,169.500 6,031,800 (137,700) Charges for Services: Swimming Pool Revenue 35,500 41,800 6,300 Recreation Fees 266,000 319,800 53,800 g Police Protection 20,000 20,000 - m Traffic Signal Contre 11,000 8,200 (2,800) Garbage Fees 2,231,000 2,193,200 (37,800) Cemetery Fees 27,000 21,100 (5,900) Planning Fees 10,000 14,000 4,000 (Continued on Next Page) 36
CITY OF TALLAHASSEE, FLORIDA GENERAL FUND { SCHEDULE OF REVENUE BY SOURCE: BUDGETED AND ACTUAL For the Fiscal Year Ended September 30,1981 (Continued) [ Variance ( Favorable Budget Actual (Unfavorable) Charges for Services:(Continued) [- Property and Maintenance $ 9,000 $ 11,200 $ 2,200 Other Revenue 53,500 196,800 143,300 Total Charges for Services 2,663,000 2,826.100 163.100 { Fines and Forfeits Animal Shelter Fines 10,000 51,000 41,000 [ Court Fines 120,000 59,600 (60,400) Parking Violations 130,000 139,000 9,000 Total Fines and Forfeits 260,000 249,600 (10,400) { Interest 739,000 843,500 104,500 ( Miscellaneous revenues Lease of Land 1,200 800 (400) Rent of Buildings 11,000 55,400 44,400 h Sale of Cemetery Lots 35,000 48,200 13,200 Rental of Equipment - 1,500 1,500 Sale of Scrap and Surplus Equipment 5,000 22,200 17,200 [ Applied Expense - 19,200 19,200 Total Miscellaneous Revenue 52,200 147,300 95,100 [ Total Revenues $17,499,100 $18,404,400 $905,300 [ [ l [ [ [ [ 37
I CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES - BY DEPARTMENT - APPROPRIATED AND ACTUAL For the Fiscal Year Ended September 30,1981 Variance Encum- Budgetary Favorable g Actual brances Basis Budget (Unfavorable) g Expenditures: Current: General Government: Internal Audit $ 97,800 $ (200) $ 97,600 $ 110,000 $ 12,400 City Manager 281,500 600 282,100 252,000 (30,100) City Commission 88,900 200 89,100 91,200 2,100 Auditor Clerk-Executive 111,400 2,900 114,300 118,400 4,100 Legal 247,600 - 247,600 228,100 (19,500) Special Appropriations 6,189,500 100 6,189,600 6,022,400 (167,200) Management and Budget 213,300 1,200 214,500 218,600 4,10'0 Auditor Clerk-Treasury 256,400 100 256,500 258,600 2,100 Personnel 21,600 - 21,600 41,600 20,000 Engineering 463,400 1,500 464,900 498,500 33,600 Community Development 306,400 1,200 307,600 489,600 182,000 Planning 755,100 - 755,100 792,600 37,500 Public Relations 257,200 800 258,000 235,200 (22,800) g Maintenance 104,200 100 104,300 106,200 1,900 g Administration 797,600 (100) 797,500 828,200 30,700 Total General 3 Government 10,191.900 8,400 10,200,300 10,291,200 90.900 g Public Safety: Building inspection 368,000 (57,800) 310,200 308,700 (1,500) Communication 142,800 600 143,400 151,300 7,900 Street Lighting 436,700 - 436,700 445,900 9,200 Traffic Engineering 356,800 (300) 356,500 323,100 (33,400) g Fire Department 3,000,400 (12,600) 2,987,800 2,993,900 6,100 g Police Department 5,384.200 (24.200) 5,360,000 5.415,300 55,300 Total Public Safety 9,688.900 (94,300) 9,594,600 9,638,200 43,600 Highways and Streets: Street Sweeping 111,200 105,000 216,200 239,400 23,200 1 1,062,500 1,044,600 1,004,100 (40,500) Street Maintenance (17,900) E Traffic Engineering 497,700 (200) 497,500 491,200 (6,300) W 213.300 600 213,900 279,600 65,700 Construction Total Highways and E Streets 1,884,700 87,500 1,972,200 2,014.300 42,100 g Sanitation: Solid Waste Collection 2,592,100 - 2,592,100 2,564,200 (27,900) Sanitary Land Fill 328,700 - 328,700 310,000 (18,700) Total Sanitation 2,920,800 - 2,920,800 2,874,200 (46,600) 840,700 14,300 855,000 853,800 (1,200) Cemeteries (Continued on Next Page) 38 I
[ CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES - BY DEPARTMENT - APPROPRIATED AND ACTUAL { For the Fiscal Year Ended September 30,1981 (Continued) Variance Encum- Budgetary Favorable Actual brances Basis Budget (Unfavorable) { Welfare: Code Enforcement $ 129,700 $ 600 $ 130,300 $ 139,100 $ 8,800 Lincoln Neighborhood [ Center 80,800 (1,100) 79,700 82,500 2,800 Administrative 106,300 600 106,900 123,900 17,000 Senior Citizens 84,900 1.100 86,000 85,700 (300) [ Total Welfare 401,700 1,200 402,900 431,200 28,300 Culture and Recreation: ( Recreation - Armory Physical Cultural Center 28,100 125,800 - 800 28,900 125,800 28,300 124,800 (600) (1,000) Administration 472,700 (4,400) 468,300 482,700 14,400 Lafayette Park 106,800 106,100 106,200 100 [ Jake Gaither Golf Course 88,500 (700) (9,700) 78,800 98.800 20,000 Parks 265,200 (2,500) 262,700 235,600 (27,100) Lafayette Arts and Crafts 48,700 (500) 48,200 47,900 (300) [ Palmer Monroe Aquatic Athletics 80,100 145,900 (300) 300 79,800 146,200 77,900 146,100 (1,900) (100) General Athletics 252,600 6,200 258,800 248,600 (10,200) Dade Street Recreation 49,800 49,600 61,800 12,200 { Fourth Avenue Recreation 25.800 - (200) 25,800 26,700 900 Jake Gaither Center 59,500 - 59,500 59,200 (300) Bond Center Recreation 106,000 100 106,100 119,300 13,200 [ Playground Maintenance 71,500 538,600 (100) 2,600 71,400 541,200 68,800 (2,600) 489,400 (51,800) Total Culture and [ Recreation 2,465,600 (8,400) 2,457,200 2,422.100 (35,100) Total Expenditures $28,394,300 $ 8,700 $28,403,000 $28,525,000 $122,000 [ [ [- 39 f
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L e L [ [ [ SPECIAL REVENUE FUNDS s Special Capital Projects Fund - to provide a means of financing long term Capital Projects while minimizing impact on the Operation Budget.
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Special Insurance Reserve Fund - created as a reserve against ex-cessive losses by the City. The City is "self-insured" in so far as ; Workmen's Compensation is concerned. l Deficiencies and Emergencies Fund - to account for unforeseen ex-penditures of an emergency nature.
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Water and Sewer Line Extension and Depreciation Fund - established l for the purpose of planning and constructing additions to treatment ;
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plants and major systems lines of the water and sewer systems of the l City, in addition, this fund may make payments of principal and interest, i when due, on bonds sold to finance such improvements, extensions, renewal and replacements of the water and sewer systems. l l
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1 I CITY OF TALLAHASSEE, FLORIDA GPECIAL REVENUE FUNDS COMBINING BALANCE SHEET September 30,1981 Water and Sewer Lins a Special Special Deficiencies Extension Totals g Capital Insurance and and September 30. September 30, Projects Reserve Emergencies Depreciation 1981 1980 ASSETS
$10.411,000 $ 59,000 $3.800,000 $2,574,500 $16,844,500 $10,945,000 Equity in Pooled Cash investments - At Cost -
703.600 - - 703.600 644.300 g Accrued Interest Receivable - 22,000 - - 22,000 9,200 m
$10.411,000 $784,600 $3,800,000 $2.574,500 $17,570,100 $11,598.500 Total Assets I
LIABILITY AND FUND BALANCES
$ - $ - $ 56,700 $ 56.700 $ 100,200 Contracts Payable $ -
FUND BALANCES g Designated for Surcharge Shortfall - - 62,300 - 62,300 - E 10,411,000 704,600 3.737,700 2,517,800 17,d 51.100 11,498,300 Undesignated 10.411,000 764,600 3,800,000 2,517,800 17,513,400 11.498.300 Total Fund Balances
$10.411,000 $784,600 $3,800,000 $2,574,500 $17,570,100 $11,598.500 Total Liabilities and Fund Balances I
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CITY OF TALLAHASSEE, FLORIDA SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, [ AND CHANGES IN FUND BALANCES For the Fiscal Year Ended September 30,1981 Water and [ Sewer Line L Special Special Deficiencies Extension Totals Capital Insurance and and September September Projects Reserve Emergencies Depreciation 30,1981 30,1980 Fund Balances - October 1 $ 5.594.800 $656,300 $3,031,800 $2.215.400 $11,498,300 $ 4,610,200 Revenues: Other revenues - 52,500 - - 52,500 - Charges for services - - - 662,800 662,800 797,800 Interest earned 816,200 75,800 446,200 314,700 1,652,900 629.800 Total Revenues 816,200 128,300 446,200 977,500 2,368.200 1,427,600 Expenditures Capital Outtay - - - 133,600 133,600 143,100 Total Expenditures - - - 133,600 133,600 143,100 Excess of Revenues over Expenditures 816.200 128,300 446,200 843,900 2,234,600 1,284,500 Other Financing Sources (Uses): Operating transfers in 4,000,000 - 322,000 500,000 4,822,000 6,137,600 Operating transfers out - - - (1,041,500) (1,041,500) (392,300) Total Other Financing Sources (Uses) 4,000,000 - 322,000 (541,500) 3,780,500 5,745,300 Excess of Revenues and other Sources over Expenditures and O'her Uses 4.816,200 128.300 768.200 302,400 6,015,100 7,029,800 Residual Equity Transfers to other funds _- - - - - (141,700) Fund Balance - September 30 $10.411.000 $784,600 $3,800,000 $2,517,800 $17,513,400 $11,498,300 [ r L f L L 43 r
I CITY OF TALLAHASSEE SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL For the Fiscal Year Ended September 30,1981 Special Capital Projects Special Insurance Reserve i Variance Variance Favorable Favorable g Actual Budget (Unfavorable) Actual Budget (Unfavorable) E
, Revenue:
j Other $ -
$ - $ - $ 52,500 $- $52,500 Charges for service - - - - - -
Interest earned 816,200 918,000 (101,800) 75,800 83,000 (7.200) j Total revenues 816,200 918,000 (101,800) 128.300 83,000 45.300
- Expenditures i
Capital Outlay - - - - - - Total expenditures - - - - - - Excess of revenues over expenditures 816,200 918,000 (101,800) 128.300 83,000 45,300 j Other Financing Sources (Uses): g Operating transfers in Operatirig transfers out 4,000,000 4.000,000 g Total other financing sources (uses) 4,000,000 - 4,000,000 - - - Excess of revenues and other sources over evenditures and ether uses $4.816,200 $918,000 ,$3,898,200 $128.300 $83,000 $45,300 I I I I I I I I 44 I
r b E L ' Water and Sewer t.ine De'iciencies and Emergencies Extension and Depreciation Total Variance Variance Variance Favorable Favorable Favorable Actual Budget (Unfavorable) Actual Budget (Unfavorable) Actual Budget (Unfavorable) c' S' S - $ - $ - $ 52,500 $ 52,500
- - - 662,800 662,800 -
662.800 E62,800 - _446,200 759,400 (313,200) 314,700 314,700 7 - 1,652,900 2,075,100 (422,200) +N 446.200' 759,400 (3I3,200) 977,500 977,500 - 2,368,200 2,737,900 (369,700) p, _. 133,600 133,600 133,600 133,600 [ 133,600
-{ 133.600 - 133,600 133,600 -
446,200 759,400 (313,200) 843,900 843,900 2,234,600 2,604,300 (369,700) { H 322,000 - 322,000 500,000 500,000 - 4,822,000 500,000 4,322,000 [' - - - (1,041,500) (1,041,500) - (1,041,500) (1,041,500) - 322,000_ - 322,000 (541,500) (541,500) - 3,780,500 (541,500) 4,322,000
$768,200 $759,400 $ 8,800 $ 302 400 $ 302.400 $ - $6,015,100 $2,062,800 $3,952,300 4
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E F L, CAPITAL PROJECTS FUNDS " Capital Improvement Fund - to account for general revenues used for the acquisition or construction of general fixed assets and other govern-mental services. Capital Bonds Construction Fund - to account for bond proceeds used for the acquisition or construction of general fixed assets Grant improvement - to account for grant revenues used for the
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acquisition or construction of general fixed assets and other govern-
, mental services.
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I CITY OF TALLAHASSEE, FLORIDA g CAPITAL PROJECT FUNDS E COMBINING BALANCE SHEET September 30,1981 Capital Totals Capital Bonds Grant Saptember September Improvement Construction improvement 30,1981 30,1980 ASSETS Cash - Restricted $ - $ -
$ 7,700 $ 7,700 $ 30,000 Equity in Pooled Cash 2,559,700 18,721,600 373,000 21,654,300 3,278,500 Accounts Receivable 113,900 - 1,481,500 1,595.400 990,000 l Allowance for Uncollectibles (2,700) - -
(2,700) (255,800) 5 Due from Other Funds 557,000 - - 557,000 739,000 Total Assets $3,227,900 $18,721,600 $1,862,200 $23,811,700 $4.781,700 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ 600 $ 305,300 $ 40,600 $ 346,500 $ 621,500 Due to Other Funds - - - - - Retainage Payable - 59,800 20,400 80,200 156,300 Total Liabilities 600 365,100 61,000 426.700 777,800 Fund Balances: g Reserved for Encumbrances 2,314.300 16,364,700 1,177,300 19,856,300 2,971,000 g Reserved for Maintenance and Replacement of Water and Sewer Lines - - - - 110,000 Reserved for Law Enforce-ment Trust Fund - - - - 65,000 Reserved for Community and Rehabilitative Trust - - 7,700 7,700 - l Undesignated 913,000 1,991,800 616.200 3.521,000 857,900 Total Fund Balances 3.227.300 18,356,500 1,801.200 23,385,000 4,003,900 l g ! Total Liabilities and 3 Fund Balances $3,227,900 $18,721,600 $1,862,200 $23,811,700 $4,781,700 l l I I I I I 48
s [ CITY OF TALLAHASSEE, FLORIDA CAPITAL PROJECT FUNDS { COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES For the Fiscal Year Ended September 30,1981 Capital Totals Capital Bonds Grant September September grovement Construction Improvement 30,1981 30,1980 Fund Balances - October 1 $1,179,000 $2,824,900 $ - $ 4,003,900 $6,000,600 Revenues: Intergovernmental Revenues 45,700 - 5,050,700 5,096,400 380,100 (( interest Earned Miscellaneous 168,400 16,500 955,300 12,400 1,123,700 28,900 483,900 36,100 Total Revenues 230,600 967,700 5,050,700 6.249,000 900,100 { Expenditures: Current: General government 25,800 - 1,613,800 1,639,600 483,900 [ Highways and streets 275,800 - 156,900 432,700 972,800 L Sanitation - - - - 7,500 Health - - 24,500 24,500 15,000 Welfare - - 907,300 907,300 7,500 [ Education Culture and recreation 23,400 83,100 83,100 23,400 60,000 Capital Outlay 1,593,900 3,471,800 1,099,700 6,165,400 2,012,700 ( Total Expenditures Excess of Revenues 1,918,900 3,471,800 3,885,300 9,276,000 3,559,400 over (under) { Expenditures Other Financing Sources (Uses): (1,688,300) (2,504.100) 1,165,400 (3,027,000) (2,659,300) Proceeds from sale of { anticipation notes Proceeds from sale of 20,238,300 - 20,238,300 2,500,000 property 125,000 - - 125,000 125,000 Operating Transfers in 3,881,100 383.100 - 4,264,200 1,800,600 Operating Transfers Out (269,500) (2,585,700) - (2,855,200) (3,771,200) Total Other Financing Sources (Uses) 3,736,600 18,035,700 - 21,772,300 654,4 3 Excess of Revenue and other sources p over (under) Expendi-L tures and other uses 2,048,300 15,531,600 1,165,400 18,745,300 (2,004,900) Residual Equity Transfers from other funds - - 635,800 635,800 8,200 Fund Balances - September 30 $3,227,300 $18,356,500 $1.801,200 $23,385,000 $4,003,900 [ 49 C -- ----- - - - --
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E [ ENTERPRISE FUNDS Electric Fund - to account for the constructiore, operation and mainte-nance of the City-owned electric system. p Gas Fund - to account for the construction, operation and mainte-L nance of the City-owned gas system. Sewer Fund - to account for the construction, operation and mainte-nance of the City-owned sewer system. Water Fund - to account for the construction, operation and mainte-nance of the City-owned water system. Airport Fund - to account for the construction, operation and mainte- - nance of the municipal airport. Tallahassee Transit Fund - to account for the operation and mainte-nance of the City's mass transportation system. ~ 6 W s w usmR% E Emumm _ _ _ _ _ _ _ _ _ _
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I CITY OF TALLAHASSEE, FLORIDA g ENTERPRISE FUNDS 3 COMBINING BALANCE SHEET September 30,1981 Totals Tallahas- September September Electric Gas Sewer Water Airport see Transit 30,1981 30,1980 ASSETS Current Assets: C:sh $ 50,300 $ - $ - $ -- $ - $ - 5 50,300 $ 253.200 Equity in Pooled Cash 299.800 237,900 334,000 460.400 315.800 378,100 2.026,000 917,100 Accrued interest Receivable 160.800 - - - - - 160,800 - Accounts Receivable: Customers 5.077,100 392.000 476.500 274.500 412,700 155.600 6.788.400 5.756,400 Other 2.404.000 12,800 1.300 400 1.018,500 - 3.437,000 3.302,400 Less: Allowance for Doubtful Accounts (431,500) (41,100) (42,300) (24.200) (249.200) (10,000) (798.300) (564.400) Inventory: Fossil Fuet 7.886,800 97,900 - - 50.700 26.400 8.061,800 6,779,700 Nuclear Fuel 1.641.500 - - - - - 1.641.500 1,165.800 Accumulated Amort:Zation of Nuclear Fuel (627.100) - - - - - (627,100) (402,000) Other inventory - - - - - 93.800 93.800 67,300 Note Rece'vable - - - - 23.500 - 23.500 21,700 Total Current Assets 16.461.700 699.500 769.500 711.100 1.572.000 643.900 20.857.700 17.297,200
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Restricted Assets: Revenue Bonds Debt Ser ice: Equity in Pooled Cash - 89.100 86.600 28.800 - - 204.500 192.600 Revenue Bonds Reserve: Equity in Pooled Cash 330.400 122,300 267,300 92.900 - - 812.900 2,104.900 investrnents - At Cost 10,470.000 8.000 1.046.800 362.200 - - 11.887,000 10.636.700 Accrued Interest Receivcble - 200 22.000 7.600 - - D.800 165,800 Revenue Bonds Construction: Equity in Pooled Cash 2.996.800 - 7,782.700 3.792.900 - - 14.572.400 16.398.600 Accounts Receivable - - 20,400 - - - 20.400 452.400 Land Deposit - - - - - - - 57,300 Other Construction: Equity in Poo;ed Cash 3.726,800 - (212.200) - - - 3,51' A 3.418,000 Accounts Receivable - - 1,855.100 - - - 1.855.100 - Rsvenue Bonds Renewal and Repla;ement: Equity in Pooled Cash 13,823,500 574.700 734.700 370.000 - - 15.502.900 14.571.100 Total Restncted Assets 31.347,500 794.300 11.603.400 4.654.400 - - 48.399.600 47,997.400 Other Assets: Goodwill - - - - - 11.400 11,400 17,100 Other Accounts Receivable - - - - - - - 1.912,800 Deposits - - 55.700 - -- - 55,700 104,300 Unamortized Bond issue Cost 651.500 - 107,300 32.100 - - 790.900 852.900 g Note Receivable - - - - 374.100 - 374.100 397,700 Total Other Assets 651.500 - 163.000 32,100 374.100 11.400 1.232,100 3.284.800 Utihty Plant in Service: Utility Plant in Service 195.247.300 6.780.500 43.564,700 19,361,900 15.621,800 3.492.000 284.068.200 238.207,100 Less. Accumulated Depreciation (53.232,800) (2.515.900) (5.554.300) (6.699.300) (2.838.000) (775.000) (71.615,300) (61,206.600) g Construction in Progress 4,394.000 34.700 7,474.100 1.383,700 186.000 - 13.472.500 36.047,000 Total Utility Plant in Service 146.408.500 4.299.300 45.484.500 14.046.300 12,969.800 2.717.000 225.925.400 213.047,500 Total Assets $194.869,200 $5.793.100 $58.020.400 $19.443.900 $14,915.900 $3.372.300 $296,414,800 $281,626.900 I 52
N CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS ( COMBINING BALANCE SHEET September 30,1981 (Continued) [ Totals Tallahas. September September Electric Gas Gewer Water Airport see Transit 30,1981 30,1980 LIABILITIES AND FUND EOU'TY Curr1nt Liabilites: Accounts Payable $ 3.207.700 $ 304,300 $ 900 $ 400 $ 182.400 $ 12.100 $ 3,707.800 $ 4.926,200 Customer Contracts Payable 171.900 41,400 150.100 58,800 - - 422,200 1,105,500 Advance from Municipality - General Revenue Bonds - - - - 44,000 - 44,000 19,100 [ Customer Advances for Construction Du3 to Other Funds - 140.200 - 532,500 143,500 - 816,200 740.300 397,100 Utility Deposits Payable 2.988.700 68,700 - 163,200 - - 3,220,600 3,006,600 f Loin from Municipal Retire-( ment Fund Oth:r 23.500 23.500 21,700 3.100 Total Current Liabilities 6,508,500 414.400 683.500 365.900 249.900 12,100 8.234.300 10,219.600 Payible from Restricted Assets: Accrued Interest and Commissions Payable - 4,300 4,600 1,500 - - 10,400 14,400 Bonds Payable - 100.000 75.000 25,000 - - 200,000 260,000 Retainage and Accounts Payable 1.562,500 74.800 _ - 228.000 - - 1,865.300 70.900 Total Payable from Restricted Assets 74,800 104.300 1.642,100 254.500 - - 2,075.700 345,300 Other Liabilities: Diferred Revenue 78,100 - 7,700 - 17,700 29.000 132,500 30,500 Customer Advances Payable - - - - - - - 900 Customer Contracts Payable 152,500 - 813,400 307,900 - - 1.273,800 1,141.800 f Customer Advances for ( Construction Bonds and Notes Payable 124,005.000 33.000 - 515,500 15.921,000 500 - 5.673,500 33.500 11,800 146,115,000 147,550.000 Less: Bond Discount (1,736,700) - (7,500) (2,200) - - (1,746,400) (1,866.900) Loan from Municipal [ Retirement Fund Advince from Municipality - General Revenue Bonds 374,100 - 374,100 397,700 1.356.200 - 1.356.200 1,423.000 Total Other Liabilities 122,531.900 515,500 16,735.100 5,979.200 1.748.000 29,000 147.538,700 148.688.800 Total Liabilities 129.115.200 1.034,200 19.060,700 6,599.600 1.997.900 41.100 157.848.700 159,253.700 Fund Equity: Contributed Capital - - 16.029,600 - 11,242.900 6,618,100 33,890.600 24,723,400 Rittined Earnings: Reserved for Revenue Bonds - Debt Service - 300 50,700 8.600 - - 69,100 36,500 R: served for Revenue Bonds 10,800.400 13J,500 1.336.100 462,700 - - 12,729,700 12.907,400 Reserved for Revenue Bonds Construction 2.996.800 - 7.629,100 3,579,200 - - 14,205,100 16,908,300 Riservad for Other Construction 3,722.300 - 300,000 - - - 4,022.300 3.418,000 [ R served for Revenue Bonds Renewal and Replacement Unreserved 13.753,200 34.481,300 4.043.900 574,700 689.100 12.925.100 355,700 8,438.100 15.372,700 1,675.100 (3.286.900) 58,276,600 14.571,100 49.808.500 Total Fund Equity 65,754.000 4,758.300 38.959,700 12,844,300 12,918.000 3.331.200 138.566.100 122.373.200 Total Liabilities and Fund Equity $194,869.200 $5.793.100 $58.020,400 $19,443,900 $14,915.900 $3,372,300 $296.414.800 $281,626.900 53 L -- - - - - - - - - - - -
l CITY OF TALLAHASSEE, FLORIDA g ENTERPRISE FUNDS 5 COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30, 1981 Totals l Tatlahas- September September l Etectnc Gas Sewer Water Airport see Transit 30.1981 30.1980 Operating Revenues: Charges for Services. Residential Sales $28.993,500 $1.689.500 $2.687,100 $1.941.000 - - $35.311.100 $28.952,500 g Commercial and industrial 31,231.800 4.544.700 3,158.100 1,240,400 - - 40.175,000 33.341,700 Sales Pubic Street and Highway 503.400 420,500 Lighting 503.400 - - - 16.200,300 - - 16.200,300 16.630.400 Saies for Resate - - - 2.437,700 62,900 117,700 136,400 - 2,754.700 2.553,900 Sales to Otner Funds 2.281,300 431.000 357 400 3.090.400 2,796.700 20.700 Surcharge -- 62.300 160,100 229.500 207,100 7.100 Tapping Fees - 2.007,700 - 2,007.700 2.251,900 Safe of Gas and Oil - - - - Landing and Tie Down Fees - - - - 163.600 - 163.600 158.500 3.900 119,700 98,300 10.000 Forfeited Discounts 105.800 - - 87,100 9,300 65.800 - 162.200 126,400 Initiating Service - - 43,900 790.000 959.800 941,400 125.900 Rentals - - 72.200 13.700 44,000 - 129.900 125,500 Cut-ins and cut-fees - - Transportation Fees - - - - - 663,000 663.000 582,200 Other 196.500 11.900 118.200 1.200 4.200 - 332.000 214.500 Total Operating Revenues 6.574.400 3.994.100 2.965.500 663.000 102.802,300 89.401.500 82.235.500 1 369.800 Operating Expenses-45.962,800 45.962.800 40.238,600 Fossil Fuel - - - - - Nuclear 584.300 - - - - - 584.300 371.600 Purchase of Power 349,100 - - - - - 349.100 270.800 4.328.500 4.328.500 3.537,200 Purchase of Gas - - - - - Production Operating 1,811.000 - 970.600 753.900 - - 3.535.500 3.429,400 Maintenance 868,700 - 393.300 5,600 - - 1.267,600 1,327,500 Transmission: Operating 313,300 - 102.800 - - - 416,100 373.500 Maintenance 89.200 - 73.700 - - - 162.900 162,100 Distnbution: Operating 1,380.200 254.600 1.214 200 122.400 - - 2.971.400 2.259.900 Maintenance 453.700 206.600 t 300 563.600 - - 1.230.800 1,141.100 Administrative 2.107,300 215.200 581,800 239,300 - - 3.143,600 2,434.300 Automotive Equipmer.t Expense 363.900 77,900 341.700 206.000 - 406.000 1,395,500 1,092.000 Less Apphed Equtoment Charges (486 300) (30.800) (375.900) (225,300) - - (1,168.300) (1,039.200 Materials and Supphes - - - - 40,600 112.700 153.300 93.500 Depreciation 7,893.20G 193.700 1.352,100 349,500 493.800 183.900 10.466.200 6.802.300 198.100 7,700 2.300 208.100 207,800 Amortization Customer Accounts Expense 1,329.100 159.000 506.400 498.100 - 10.400 2.503.000 2.414,300 Personal Services - - - - 648.600 1,131,300 1,779.900 1,387.200 1.751,000 88.700 1,839.700 2.218,100 m3 Contractual Services - - - - Other 73.000 - 23.500 5,700 33.300 41.300 176.800 93.300 Total Operating Expense 63.290.600 5,354.700 5,198,800 2.521.100 2.967,300 1.974,300 81.306.800 68.815,300 Operating income (Loss) 18.944.900 1,015,100 (1.800) (1.311.300) 21,495,500 20.586.200 1.375.600 _1.473.000 (Continued on Next Page) I 54
CITY OF TALLAHASSEE, FLORIDA p ENTERPRISE FUNDS L COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1981 ~ (Continued) L Totais Tallahas. September September Electnc Gas Sewer Water Airport see Transit 30,1981 30, 1980 Nonoperating Revenues (Expenses). [ Interest Revenue $ 4.974.200 $ 166.100 $ 1.493.600 $ 744.700 $ 95.600 $ 7.700 $ 7.481.900 $ 6.792,200 L, Gain on Sale of Surplus Property 34.300 17.800 52.100 76.800 Recovered Costs - - 17.900 - - 10,500 28.400 21,400 Federal Grant Revenue 48.200 - 34.500 - - - 82.700 389.900 Other Revenues 508.600 2.200 3.800 - 7.400 9.200 531.200 160,900 % insurance Claims - - - - - - - 700 interest and Commission Expenses (7.058.600) (24.300) (937.200) (329.500) (107,700) (8.457.300) (8.395.200) Loss Due to Theft - - - - - - - (2.000) Loss on Sale of Property - - - - - (1.700) (1,700) - Amortization of Goodwdl - - - - - 5.700) (5.700) (5.700) Other Expenses - - (53.100) (14.900) (13.800) (81.800) (3.700) [ Total Nonoperating L, Revenues (Expenses) (1.493.300) 144.000 559.500 418.100 6.200 (4.700) (370.200) (%4.700) Income (Loss) Before Operating Transfers 17.451.600 1.159.100 1.935.100 1.891.100 (6.500) (1,305.100) 21.125.300 19.621.500 L Operating Transfers in (Out). Operating Transfers in 77.800 20.500 1.130.900 1.330.000 474.300 - 3.033.500 3.216,700 Operating Transfers (Out) (15.307.300) (776.700) (1,197,200) (762.600) (500) - (18.044.300) (16.394.500) Net income (Loss) 2.222.100 402.900 1. % 8.800 2.458.500 467.300 (1,305.100) 6.114.500 6.443.700 Disposition of Net income: Depreciation on Contnbuted Assets - - 339.800 - 396.000 175.400 911.200 12.600 Net increase (Decrease) in Retained Earnings 2.222.100 402.900 2.208.600 2.458,500 863.300 (1.129.700) 7.025.700 6.456.300 Retained Earnings (Deficit) - October 1 63.531.900 4.356.000 20.721.500 10.385.800 811.800 (2.157.200) 97.649.800 91.193.500 Retained Earnings (Deficit) - September 30 $65.754.000 $4.758.900 $22.930.100 $12.844.300 $1.675.100 $(3.286.900) $104.675.500 $97,649.800 E E u ~ m 55
I ! CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS g! g COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION For the Fiscal Year Ended September 30,1981 I Totals Tallahas- September September Electnc Gas Sewer Water Airport see Transit 30.1981 30,1980 I Sources of Working Capital: i Operations: l Net income (loss) $ 2,222.100 $402,900 $ 1.868.800 $2.458,500 $ 467,300 $(1,305,100) $ 6,114.500 $ 6.443,700 items not requiring (providing) f working capital ~. Depreciaten 7,893.200 193,700 1,352.100 349,500 493.800 183,900 10,466,200 6.802,300 Amortization 198.100 - 7.700 2,300 - 5,700 213.890 213.500 Working Capital Provided (Used) by Operatons 10.313.400 596,600 3.228,600 2.810,300 961,100 (1,115,500) 16.794.500 13,459.500 Increase in Customer Contracts Payable 19,300 - 87,000 25,700 - - 132,000 133,200 ( Decrease in Other Accounts 1,912.800 - 1,912.800 748,400 Receivable - - - - Decrease in Deposits - - 48,600 - - - 48,600 - Increase in Customer Advances for Construction 33,000 - 500 - - - 33.500 - Increase in Deferred Revenue 47.600 - 7.700 - 17,700 29.000 102.000 900 Decrease in Restricted Assets - - - - 25,200 - 25,200 3.160 200 Contributions - - 6.316,500 - 1.783,900 1,978.000 10.078,400 14.607.600 Increase in Payable from Restricted Assets 74,800 - 1.472,900 184,900 - - 1,732,600 500 7 Increase in Bonds Payable 3,000,000 - - -- - - 3,000,000 - Decrease in Notes Receivable - - - - 23.600 - 23,600 - Total Sources of Working Capital 15.400,900 596.600 11.161.800 3.020.900 2,811.500 891.500 33.883,200 32,110,300 Uses of Working Capital. Note Receivable Due from Airlines for Construction of Concourse !. Area - - - - - - - 397.700 Acquisition of Plant in Service 7,613,900 284.400 10.247,200 2.528.700 2,121,700 548,300 23,344,200 22,728.800 Increase in Deposits - - - - - - - 104,300 Decrease in Customer Advances for Constructon - - - 11 *X) 900 - 12,700 175.400 Decrease in Bonds Payable 3,860,000 102,500 342,500 130,000 - - 4.435,000 4,135.000 Adjustment to Retained Earnings - - - - - - - 7,460,800 Increase in Bond issue Cost - - - - - - - 23,800 Reduction of Advance from Municipality - - - - 66,800 - 66.800 19,100 Decrease in Customer Contracts Payable - - - - - - - 551,400 increase in Bond Discount 25,500 - - - - - 25,500 - Increase in Restricted Assets 70,800 199,200 136,100 21.300 - - 427,400 69,800 Reduction of Loan from Municipal Retirement Fund - - - - 23,600 - 23,600 21,700 Decrease in Payable from Restricted Assets - 2,200 - - - - 2.200 17.700 Total Uses of Working Capital 11.570,200 588.300 10,725.800 2.691,800 2,213.000 548.300 28.337,400 35,705.500 Net increase (Decrease) in Working Capital $ 3.830.700 $ 8.300 $ 436.000 $ 329.100 $ 598.500 $ 343.200 $ 5.545.800 $ (3.595.200) (Continued on Next Page) 56
[ CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS { COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION For the Fiscal Year Ended September 00,1981 (Continued) [ Totals [ Electric Gas Sewer Water Tallahas- Sep ember September Airport see Transit 30.1981 30,1980 Elements of Net increase (D: crease) in Working Capitat: Cash $ (197,200) $ - [ Equity in Pooled Cash
$- 5 (200) $ - 5 (5.400) $ (202,800) $ 178.300 135,700 164.900 300,600 57.000 113,500 337.200 1,108.900 387,900 Accrued Interest Receivable 160.800 - - - - -
160.800 (50,700) Investments - At Cost - - -- - - - - (6.794,100) Accounts Receivable [ invsntory 784,100 (45.400) 1,527,300 (18,600) (1,200) (4,600) 624.400 27.200 (424,700) 932,600 23.300 1,559.200 1,096,000 458,500 Other - - - - - 3.100 3,100 - Due from Other Funds - - - - - - - (316.400) Notes Receivab'e [ Accounts Payable 1,175,300 (84,900) 87.800 169,300 (141 700) 1.800 - 1.800 12,600 1,218,400 21,700 (1,450.800) Customer Contracts Payable 505,400 (5.100) 70.400 112.600 - - 683.300 196,600 Customer Advances for Co'istruction 6,n00 (21,600) [ Due to Other Funds (68.200) 7.900 - 397,100 (75,900) 397,100 i1,100 3.116,600 Utihty Deposits Payable (192.500) (8.600) - (12.900) - - (214.000) (420,600) Retainage Payable - - - - - - - (27,600) Loan from Municipal Retirement [ Fund - - - - (1,800) - (1,800) (1,700) Advance from Municipahty - - - - (24.900) - (24.900) - Not increase (Decrease) in Working Capital
$3.830,700 $ 8.300 $436.000 $329.100 $598.500 $343.200 $5,545.800 $(3.595.200)
[ [ [ [ E E-57
I' CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF OPERATING EXPENSE TALLAHASSEE TRANSIT FUND For the Fiscal Year Ended September 30,1981 Automotive: $ 406,000 Materials and Supplies: Office 68,300 Supplies 29,100 Uniforms 15,300 112,700 Depreciation: 183,900 Personal Services: Pensions and payroll taxes 117,400 Salaries and wages 1,013,900 1.131,300 Contractual Services: Accounting 33,800 Advertising 23,800 E Professional fees 10,600 E Purchasing 6,300 Personnel 14,200 88,700 Other: Insurance 23,500 Rent 9,900 Miscellaneous 7,900 1 41,300 Customer Accounts 10,400 Total Operating Expense $1,974,300 I 58
s [ r L [ INTERNAL SERVICE FUNDS Reading, Billing and Co!Iection Fund - to account for the costs of reading, billing and collecting for the services provided by the various enterprise funds. r Data Processing - to acc"unt for the costs of operating the City's data processing department. Accounting Fund - to account for the costs of operating the City's accounting department. p Central Stores Fund - to account for the costs of operating a L warehouse for inventory used by other City departments. Purchasing Fund - to account for the costs of operating the City's centralized purchasing department. Garage Fund - to acccunt for the costs of operating a maintenance p facility for automotive equipment used by other City departments. L Human Resources - to account for the costs of operating the City's personnel department. [ Pension Administration - to account for the costs of administering the City's pension plans. L c L I L
I CITY OF TALLAHASSEE, FLORIDA I INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET September 30,1981 i ! Totals Reeng I ASSETS B4hng and Collection Data Processing Accounting Central Stores Purchasing Garage Human Penson Resmrces Administraton 30.1981 September September 30.1980 I Current Assets-Cash Equity in Pooied Cash
$ 4.700 96.300 33.900 15.600 137.600 35.700 104 200 20.400 11.100
$ 46.700 $ 53.600 454 800 212.800 Accounts Receivable -
11.200 700 6.900 - 17.600 - - 36.400 43.700 Due from Other Funds - - - - - - - - - 3.900 1 j Deposits 6.500 - - - - - - - 6.500 6.500 Inventory - - - 2.239.700 27.700 269 600 - - 2.537.000 2.552.900 Total Current Assets 149.500 45.100 16.300 2.384.200 63.400 391.400 11.100 3.081.400 2.873.400 20.400_ Restrcted Assets-Cash 30.000 - - - - - - - 30.000 - Equety in Pooted Cash - - - - - 1.632.200 - - 1.632.200 1.328.900 l
' Total Restrcted Assets 30.000 - - - -
1.632.200 - - 1.662.200 1.328.900 Fued Assets 82.100 68.500 62.600 228.200 19.800 7.451.600 39.900 4.600 7.957.300 7.351.900 j Less Accumulated Deprecation (77.300) (24.600) 147.500) (60.700) (10.800) (3.416.300) (16.000) (1.700) (3.654.900) (3.531.000) Net Fued Assets 4 800 43.900 15.100 167.500 9.000 4.035.300 23.900 2.900 4.302.400 3.820.900 Total Assets $ 184.300 $ 89.000 $ 31.400 $2.551.700 $ 72.400 $6.058 900 $ 44.300 $ 14.000 $ 9.046.000 $8.023,200 LIABILITIES AND FUND EOUlTY Lubilites ! Accounts Payable $ 600 $ 100 $ 600 $ 75.900 $ 100 $ 29.800 $ 300 $ 1.200 $ 108 600 $ 113.400 Due to other Funds
.I 3.900 Total Liabeimes 600 100 600 75.900 100 29.800 300 1.200 108.600 117.300 Fund Equity Controuted Cap tal - - - - - -
18.900 1.500 20.400 20.800
; Retained Earnings I Reserved for Law Entorcement 30.000 - - - - - -- -
30.000 -
; Reserved for Fleet j Management - - - - -
1.632.200 - - 1.632.200 1.328.900 Unreserved 153.700 88.900 30.800 2.475.800 72.300 4.396.900 7.254.800 6.556.200 25.100 _ 11.300 Total Fund Equity 183.700 88.900 30.800 2.475.800 72.300 6.029.100 44.000 12.800 8.937.400 7.905,900 f Total Liabil, ties and Fund Equity $ 184.300 $ 89.000 $ 31.400 $2.551.700 $ 72.400 $6.058.900 $ 44.300 $ 14.000 $9.046.000 $8 023.200 i i 4 1 I J 59
CITY OF TALLAHASEEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1981 Reading B@ng and Data Centraf Human Penson Totats Collection Process.ng Accounting Stores Purchasing Garage Resources Admnstraton September September g Fund Fund Fund Fund Fwd Fund Fund Furd 30.1981 30.1980 Operat.ng Revenues Charges for Service 11.705 000 $ 965.700 $ 836.400 $ 3.495,500 $ 246.200 $3.526.300 $ 450.100 $ 74.900 $11.300.100 1 9.500.500 M.scellaneous 700 - 7.900 9.400 3.800 57.300 4.400 800 84 300 26.300 Total Operating Revenues 1,705.700 965.700 844.300 3.504.900 250.000 3.583 600 454.500 75.700 11.38a.400 9.526.800 Oparating Expenses Personal Services 834.400 494.300 591.700 93.100 124.400 655.200 335.300 35.100 3.163.500 2.846.000 Contraciaal Servmes 841.300 59.300 203.300 3.297.900 15.200 1.975.000 92.600 38.500 6.523.100 5.392.500 Mater.ais a'v! Sup.Aes 9.600 5 400 8.100 4,600 72.700 17.200 7.700 800 126.100 60.200 Omer 10.200 338.900 52.400 2.700 16.700 30.400 28.500 700 480.500 440.700 Deprecaton 400 1.300 1.300 4 600 1.000 537.200 2.500 200 548.500 717.400 Total Operatiry Espenses 1.695.900 899.200 856 800 3 402.900 230.000 3.215.000 466.600 75.300 10.841.700 9 456.800 Operapng income (Loss) 9.800 66.500 (12.500 102.00r 20.000 368.600 i t 2.100) 400 542.700 70.000 Non-operahng Revenues Gain on Sale of Surpius Property 200 - 100 1.600 400 114.300 - - 116.60r 78.100 Interest Revenue - - - - - 192.700 - - 192.700 96.200 Total Nonoperat ng Revenues 200 - 100 1.600 400 307.000 - - 309.300 174.300 Operat.ng Transfers tn (Out) 66.800 (50.200) *0.000 42.500 - 80.500 20.000 10.000 179 600 405.100 Net income (ioso 76 800 16.300 (2.400) 146.100 20.400 756.100 7.900 10.400 1.031.600 649.400 Dispo9 ton of Net income Depreciation on Contreuted " Assets - - - - - - 300 - 300 - Net increase (Decrease) in Retamed Eamings 76 000 16.300 (2.400) 146.100 20.400 756.100 8.200 10.400 1.031.900 649.400 Retained Earnings - October 1 106.900 72.600 33.200 2.329.700 51.900 5.273.000 16.900 900 7.885.100 7.235.700 Retained Earnings - Septemter 30 $ 183.700 $ 88.900 $ 30.800 $2.475.800 $ 72.300 $6.029.100 $ 25.100 $ 11.300 $ 8.917.000 $ 7.885.100 l I 60 l
[ CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS [ COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION For the Fiscal Year Ended September 30,1981 Read.ng Totals Balmg and Data Central Human Pension September September Cotiection Processing Accounting Stores Purchasing Garage Resources Admastration 30 1981 30,1980 Sources of workerg Captat Operations Net income (Loss) $ 76 800 $ 16.300 $ (2.400) $ 146.100 $ 20.400 $ 756.100 $ 7.900 $ 10.400 $1.031.600 $ 649.400 [ items not requirmg (providag) working captal. Depreciation 400 1.300 1.300 4.600 1.000 537.200 2.500 200 548.500 717.400 Working Capvtal Prowded (Used) by Operatons 77.200 17.600 (1.100) 150.700 21,400 1.293.300 10.400 10.600 1.580.100 1.366.800 [ Contrtuteorg - - - - - - - -- 20.800 Retirement of Fixed Assets - - - - 2.300 2.500 - - 4.800 - Increase m Retained Eamings Due to Tang'bie Asset inventory Adiustment - 76.000 Total Sources of [ Working Captal 77.200 17.600 (1.100) 150.700 23.700 1.295.800 10.400 10 600 1.584.900 1.463.600 Uses of WMing Capital-Acquisition of Fixed Assets 1.700 23.900 3.600 48.600 - 951.900 4 300 900 1.034.900 713.700 increase m Plant m Service Due to Tangibie Asset , inventory Adjustment - - - - - - - - - 76.000 increase in Restncted Assets 30.000 - - - - 303.300 - - 333.300 241.200 Total Uses of Working Captal 31.700 23 900 3.600 48.600 - 1.255.200 4.300 900 1.368.200 1.030.900 Net increase (Decrease) in Workirg Capital $ . 45.500 $ (6.300) $ (4.700) $ 102,100 $ 23.700 $ 40.600 $ 6.100 $ 9.700 $ 216.700 $ 432.700
=: .
~ Elements of Net increase (D4rease) in Working Capital Cash $ (6.900) $- $- $- $- $- $- $- $ $- (6.900) [ Equity n Pooled Cash Acccunts Receivable - 49.100 4.000 (12.600) (1.300) 700 80.100 4.500 - 18.000 76.300 100 - 6.100 9.700 242.000 (7.300) (184.800) 34.700 D A frorti Jiher Funds - - (3.900) - - - - - (3.900) 3.900 Inventory - Maten.ls and [- Supphes - - - 40.500 5.800 (62,200) - - (15.900) 252.400 AccJunts Payabe t600) 2.300 (200) (23.000) (100) 26.400 - - 4.800 270.400 Due to Other Funds 3.900 - - - - - - -- 3.900 56.100 Net increase (Decrease) in Working Captal $ 45.500 $ (6.300) $ (4.700) $ 102.100 $ 23.700 $ 40.600 $ 6.100 $ 9.700 $ 216.700 $ 432.700 61
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4 I I 1 !, I' I I i I I (This Page Intentionally Left Blank) I f i I es , I I I I I I
TRUST AND AGENCY FUNDS [ Pension Trust Funds City Employees' Pension Fund - to account for the accumulation of resources to be used ( for retirement annuity payments at appropriate amounts and times in the future for employees employed prior to October 1,1973 not covered by under any other plan. Municipal Employees' Retirement Fund - to account for the accumulation of resources to be used for retirement annuity payments at appropriate amounts and times in the future for all employees, except firemen and policemen, employed subsequent to October 1,1973 and employees who elected to transfer from other city p!ans. Firemen's Pension Fund - to account for the accumulation of resources to be used for retirement annuity payments at appropriate amounts and times in the future for all firemen employed by the City. Policemen's Pension Fund - This is a "special" police fund which is closed to participa-tion. It involves only retired lives. Police Pension Fund Article 11 - to account for the accumulation of resources to be used for retirement annuity payments at appropriate amounts and times in the future for all policemen employed by the City. Expendable Trust Funds Stadium Construction Fund - to account for the monies collected at the City's Athletic Stadium which are used to fund improvements at the stadium. Stadium Operation and Maintenance Fund - to account for the monies received from the ( City, Leon County and the Leon County School Board for the operation and maintenance of the City's Athletic Stadium. Downtown Improvement Authority Fund - to account for the monies appropriated to Downtown Improvement Authority, an agency created by the Florida Legislature, to regulate downtown growth. Tallahassee Regional Memorial Medical Center Capital Improvement Trust Fund - to ac-count for the assets of tne Medical Center derived from the initial sale of the Capital Bonds
- Series 1978 which netted the Medical Center $3,900,000 of principal and $91,200 of in-terest.
DIA Parking Garage Fund - to account for the operation and maintenance of the Downtown improvement Authority Parking Garage. Agency Fund Leon County Franchise Fee Fund - to account for the collection snd payment to Leon County of franchise fees charged to City water and sewer users who iive in Leon County but not within the limits of the City.
L [ [ [ [ (This Page Intentionally Left Blank) g e Y - 55
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[ [ t s I l . . _ _ _ _ _ _ _ _ _ _ _ _ . _ _ _
i I l CITY OF TALLAHASSEE, FLORIDA TRUST AND AGENCY FUNDS l COMBINING BALANCE SHEET September 30,1981 5 ! 5 f I I Pension Trust Funds l Muracipal City Pohce- Police l Employees' Employees' Firerrien's men's Pension Total f Penson Pension Artcle ll Pensions
- Retirement Pension
! ASSETS Cash $ - $ - $ - $- $ - $ - l 3,080.300 iO.123.600 Equity in Pooled Cash 3.415.900 1.454.400 164.600 2.008.400 { investments at Cost 7.093.900 14.479.400 5.114.600 49.400 3.414.900 30,152.200 l Accrued Interest Receivable 8.900 16.300 400 - 4.600 30.200 l Accounts Receevable 22,400 26.900 15.700 - 1.900 66.900 Deposits - - - - - ' Notes Receivable 397.700 - - - - 397.700 Construction in Progress - Total Assets- $10.938.800 $17.602.900 $6.585.100 $214.000 $5.429.800 $40.770.600 f LIABILITIES AND FUND BALANCES j Liabikties Accounts Payable $- $ - $ - $- $ - $ - Due to Other Funds - - - - - - ) Retainage Payable - - - - - - , Deferred Revenue - - - f Total Liabihties - - - - - - 4 l Fund Ba'ances Reserved for Employee Retirement Plans 10.938.800 17.602.900 6.585.100 214.000 5.429.800 40,770.600 Reserved for Community and Rehabshtative Trust - - - - - - Unreserved - - - - - - I Total Fund Balances 10.938.800 17.602.900 6.585.100 214.000 5.429.800 40.770.600 Total Liabihties and Fund Balances $10.938.800 $17.602.900 $6.585.100 $214.000 $5.429.800 $40.770.600 I I I I l I l I 64 I
~ ~
a m I Agency Espendabe Trust Funda Furd Downtown Stadium improvement Operation Downtown Authonty Total Leon Ccunty Tota!s Stadium and . improvement Parking Emendable Franchise September 30. September 30. j Construction Maintenance Authonty Garage Trusts Fee 1981 1980 L ,
, $- $- $- $- 5 - $- $ - 5 13.600 r 20,400 400 93.300 12t00 126.900 -
10.250.500 7.232.000 30.152.200 28.025.800 30.200 19.700 15.600 - 7.400 23.000 - 89.900 1.189.200 11.000 397.700 419.400 5.700
$20.400 5:6.000 $93.300 $20.200 $149.900 -
$40.920.500 $36.917,000
$- $- $- $- $ - $- $ - 5 77.100 150.000 118.600 ,
328.500 674.200 I 40.770.600 34.199.500 13.600 20.400 16.000 93.303 20.200 149.900 - 149.900 2.029.700 20.400 16.000 93.300 20.200 149.900 - 40.920.500 36.242.800 5 $20.400 $16,000 $93.300 $20.200 $149 900 $- $40.920.500 $36.917.000 I I I I I I 65
I CITY OF TALLAHASSEE, FLORIDA g PENSION TRUST FUNDS g COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES g For the Fiscal Year Ended September 30,1981 5 ! Municipal City Police- Police Totals g Employees' Employees' Firemen's men's Pension September September W Retirement Pension Pension Pension Article ll 30,1981 30,1980 Fund Balance - October 1 $ 8,745.600 $15.020,500 $5,754,200 $208,600 $4,470,600 $34,199,500 $28,365,700 Operating Revenues Interest 1,060,200 1,610,800 604,000 27,700 538,000 3.840,700 3.055,300 g Contributions Miscellaneous 1,704,700 1,801,700 495,100 623,800 4,625,300 4,477,200 6,800 g Total Operating Revenues 2,764.900 3,412,500 1,099,100 27,700 1.161,800 8,466,000 7,539,300 Operating Expenses Benefit Payments 147,100 676,400 231,500 22,300 108,700 1,186,000 1,021,900 I i Refunds 217,700 51,300 5,600 - 54,600 329,200 270,000 g l Medical and Insurance 169,500 79,900 23,600 - 31,800 304,800 294,600 g Administrative 37,400 22,500 7,500 - 7,500 74,900 112.200 Miscellaneous - - - - - - 6,800 Total Operating Expenses 571,700 830.100 268.200 22,300 202,600 1,894,900 1,705,500 Net locome 2.193,200 2,582.400 830,900 5,400 959,200 6,571,100 5,833,800 Fund Balance - September 30 $ 10,938,400 $17,602,900 $6,585.100 $214,000 $5,429,800 $40,770,600 $34,199,500 W i I I I I I I I. I 86 I
l I i 1 CITY OF TALLAHASSEE, FLORIDA I PENSION TRUST FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION l For the Fiscal Year Ended September 30,1981 Municioal City Police- Police Totals _ Employees' Employees' Firemen's men's Pension September Saptember
- I Retirement Pension Pension Pension Article 11 30,1981 30,1980 Sources of Working Capital; Operations:
$959,200 56,571,100 $5,833,800 R Net income Decrease in Long Term Portion
$2,193,200 $2,582 ~ ' > $830,900 $5,400 1 of Note Receivable 23,500 - - - - 23,500 21.700 Net increase in Working Capital $2,216,700 $2,582,400 $830,900 $5,400 $959,200 $6.594,600 $5.855.500 I
Elements of Net increase in I Working Capital: Equity in Pooled Cash investments at Cost
$1,796,900 $1,482,000 414,100 1,093.000
$435,900 404,900
$1,000 4,400
$747,300 210,000
$4,463,100 $ 51,500 2,126,400 5,856,000 Accrued interest Receivable 10,900 10,500 (55,000)
I (400) - - - Accounts Receivable 4,300 (3,500) (9,900) - 1,900 (7,200) 1,300 Due from Other Funds - - - - - - (1,900) Current Portion Note Receivable 1,800 - - - - 1,800 1,700 I Due to Other Funds - - - - _- 1,900 Net Increase in Working Capital $2,216,700 $2,582,400 $830,900 $5,400
$959.200_
$6,594,600 $5,855,500 I
I I I , I I I I I 67 I i
- . CITY OF TALLAHASSEE, FLORIDA g EXPENDABLE TRUST FUNDS g COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES g For the Fiscal Year Ended September 30,1981 ,
3 Talla-hassee Regional Memonal Medical Downtown Stadnim Center improve-Operation Downwwn Capital ment improve- Improve- Authonty Totals Sud'um ' and Construc- Mainte. + ment ment Parking Combined September September I;cn nance Autnonty Trust Garage Grants 30,1981 30,1980 Fory1 Balances (Ceficit) -- Octuoer 1 $<5,50c $16.000 $82.500 $1.275.200 $ (11.700) $63a.800 $2.043.300 $4.182.800 Revenues-
. Taxes - -
44.900 - - - 44.900 33.900 Iritergovernmerta! Revencel. - 31.500 500 - - - 32.000 10.697.900 Charges for Services 9.000 6.400 - - 112.500 - 127.900 76.500 l M'erest 3.700 700 16.300 36.800 2.000 - 59.500 252.100 W Miscellaneous Re: venue - - - - - 2.800 - 2.80{ Total Revenues 15.500 38.600 61.700 36.800 114.500 - 267.100 11.060.400 I.. g Expertures: s Current. l General Government 16[00 33600 50.900 121.100 82.600 - 309.900 1.754.300 g Highways and Sveets Sanitation 83.400 59,600 g Health - - - - - - - 71,500 Welfare - - -- - - - - 917.500 Educatiop - - - - - - - 95.300 Culture and Recreation - - - - - - - - Public Safety - - - - - - - -- Capital Out!ay 23.900 - 1.191.200 - - 1.215.100 11.503.900 Tc~tal Expenditures 40,600 38.600 50 900 1.312.300 82.600 - 1.525.000 14.485.500 Excess of Revenues Over j (Under) Expenditures (25.100) - 10.800 (1.275.500) 31.900 - (1.257.900) (3.425.100) Other Finanu ng Sources (Uses): Operating Transfers in - - - 300 - - 300 1.285,600 Operating Transfers Out - - - - - - - - l _ Total Other Financing Sources (Uses) - - - 300 - - 300 1.285.600 Excess of Revenues and Other Sources Over (Unoer) Expenditures (25.100) - 10,800 (1.275.200) 31.900 - (1.257.600) (2.139.500) Resid'Jat Equity Transfer (to) O'.her Funds - - - - - (635.800) (635.800) - Fund balances (Dehcit)- September 30' $16.000 $93.300 $ -
$20.200 $ - $ 149.900 $2.043.300
]O.4C}
= = _ ;
68 g.
I (- k CITY OF TALLAHASSEE, FLORIDA AGENCY; FUND - LEON COUNTY FRANCHISE FEE I . COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES For the Fiscal Year Ended September 30,1981
- ?
Balance Balance October 1,1980 Additions Deletions . September 30,1981 ASSETS
' Quity in Poc!ad Cash $18,500 $54,$00 S72,600 -
f LIABILITIES
s I
Accounts Payable $18,500 $54,100 $72,600 - )
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I I I l I l E I I i i I (This Page Intentionally Left Blank) I i e = ! l w kJ 5 ! ( i I I l I 4 l l I I
~ L Williams Cox C Weidner Cox 1 369 OFFICE PLAZA
- TALLAHASSEE, FLORIDA 32301
- TELEPHONE (9041878 8777 Certified Public Accountants O P.O. sox 1606
- 215S. GREEN STREET
- MARIANN A. F LORIDA 32446 e[904) 626-3207 UEM8ERS OF 4. va nos witu Aas, c.P A.
THE AwERICAN INSTITUTE OF C. GAnV COM. C.P.A. CE RTIFIE D PL8LIC ACCOUNTANTS nicMano A w.asoavan.c r A. THE F LORIDA INSTITUTE OF CE RTIFIE D L' O g E D$ PUBLIC ACCOUNT ANTS pate L. cavies.C P A. ACCOUNTING FIRUS A$$0CI ATEO,INC T A m Asic cp i
""^24 "'.'l".R E;t d'"AL'r'O'tll1
[ The Honorable Mayor-Commissioner q and City Commissioners < { City of Tallahassee, Florida r The accompanying statistical information (pages 73 through ( 106) is not essential for a fair presentation of the combined financial statements of the City of Tallahassee, Florida, but is presented as additional analytical data. The information {- has not been audited by us, and accordingly, we do not express an opinion on them. - /s g L 4 6 4 s a 4 , Williams, Cox, Weidner and Cox 1 December 11, 1981 1 b [ [ [ [ 71 F. -. - - - -
i I i I i I I l I I I I I (This Page Intentionally Left Blank) p i (hi - I I i I I I I i I
L I L L r b I L [ f L STATISTICAL SECTION [ Statistical schedules differ from financial statements because they [ usually cover more than one fiscal year and may present non-L accounting data. These schedules reflect social and economic data, and financial trends of the government. [ [ [ [ = e a a k > a L S E F
s CITY OF TALLAHASSEE, FLORIDA COMMENTS RELATIVE TO STATISTICAL SECTION September 30,1981 { The following statistical tables recommended by the National Council on Governmentai { Accounting are not included for the reasons stated below: { a) Tables which concern general obligation debt are omitted because the City has no general obligation debt. The City does have general revenu,e bonds which are not general obligation debt and these corresponding tables are included. [ b) Ten year debt services coverage schedules for enterprise revenue bonds have not been prepared. Due to refundings of the majority of outstanding City bonds within the last ( three years and the amount of additional bonds issued during this period of time, they would be confusing to the reader. The City enjoys high bond ratings and its coverage has been adequate to sustain these ratings. In several cases, its ratings have increased. Additional schedules which are felt to be useful to various users, principally investors, underwriters and rating agencies have been included in this section. [ [ [ [ [ [ [ 73 ( .. ..
1 I' CITY OF TALLAHASSEE, FLORIDA GENERAL GOVERNMENT EXPENDITURES BY FUNCTION Last Ten Fiscal Years Streets Culture Fiscal Total General Public and and Transfer to Year Expenditures Government Safety Highways Sanitation Recreation Health Welfare Other Funds 1972 $ 9.748,300 $ 2,136,100 $3,986,900 $ 951,900 $1,482,400 $1,016,500 $174,500 $ - 1973 11,127,900 2,519,900 4.338,000 801,500 1,824,800 1,412,700 190,600 40,400 - 1974 15.030,500 3,088,000 4,650,000 1,048,300 1,746,000 1,342,500 255,600 45,900 2,854,200 1975 16,089,600 3,305,200 5,435,700 730,200 1,785,100 1.556,200 230,900 47,500 2.998,900 17.312,300 3,722.400 5,698.600 1,177,300 2,114,000 1,560,100 442,000 105,600 2.492,200 1976 19,369,500 4,700,000 6,206.000 1,202,200 2,284,200 1,620,000 585,800 134,800 2,636,500 1977 24,321,800 9,006,300 6.278,900 1,105,700 2,179,100 1,722,700 501,300 199,500 3,328,300 1978 1979 24,932,400 10,485,400 7,362,800 1,412,000 2,712,900 1,866.300 572,500 257,700 262,800 l 1980 27,185,000 8.341,200 8.354,700 1,602,900 2,762,800 2,196,900 669,300 307.200 2,950,000 35,126.100 10,191,900 9.688,900 1,884,700 2,920,800 2,465,600 840,700 401,700 6,731,800 1981 I NOTE - The schedule above includes only those expenditures recorded in the General Fund. I I I I I I I! 74 g e,
i
- I CITY OF TALLAHASSEE, FLORIDA GENERAL REVENUES BY SOURCE Last Ten Fiscal Years Licenses Fines Charges Intergov- Miscel-lotal and and for ernmental Transfers laneous Year Revenue Taxes Permits Forfeits Services Interest Revenues in Revenues 1972 $10,012,300 $3,254,400 $822.600 $439,000 $1.779,200 $ 8,400 $ - $ 3,633,300 $ 75,400 1973 11,232,100 2,630,200 582,500 286,500 2,046,000 29,700 1,956,300 3,630.100 70,600 1974 15.062,100 4,422,000 685,200 294,700 2,023,800 100 2,442,900 5,013,600 179,700
. 1975 16,453,800 5,640,600 607,500 184,700 2,471,200 300 4,087,200 3,348,800 113,500 1976 17,552,100 6,174,000 602,200 240,200 2,270,000 - 3,909,200 4,253,100 103,300 l 1977 23,177,600 5,468,700 652,600 297,700 2,462,800 200 4,599,600 9,489,400 206,600 ! 1978 23.025,700 5,664,800 653,200 259,400 9.397,100 184,200 5,237,200 8,337.700 292,100 1979 24,723,000 5,950,400 783,600 293.600 2,401,600 341,100 6,283,400 8,160,000 509,300 1980 27,322,000 6,569,600 895,000 287,600 2,652,800 648,100 5,941,700 10,175,000 152,200 i 1981 34,904,400 7,325,000 981,100 249,600 2,826,100 843,500 6,031,800 16,500,000 147,300 i I NOTE - The schedule above includes only those revenues recorded in the General Fund. f i !8 !I 1 !I i !I l lI 75 !I
I CITY OF TALLAHASSEE, FLORIDA TAX REVENUE BY SOURCE Last Ten Fiscal Years Additional General Homestead Fiscal Total Property Telephone Utility Exemption Cigarette Gasoline g Year Taxes Taxes Taxes Taxes for Elderly _ Tax Taxes 3 1972 $3,254,400 $1,278,100 $- $ 849,800 $- $744,600 $381,900 1973 2,630,200 1,362,200 - 993,900 - 232,700 41,400 1974 4,422,000 1,488,000 - 2,507,900 - 426,000 - 1975 5,640,600 2,399,600 536,000 2,356,700 30,300 318,100 - 1976 6,174,000 2,488,30C 619,100 2,747,500 37,800 281,200 - 1977 5,468,700 2,528,800 626,300 1,990,000 34,700 288,900 - 1978 5,664,800 2,605,800 702,000 2,034,700 44,100 278,200 - 1979 5,950,400 2,664,900 767,000 2,160,500 72,100 285,900 - 1980 6,569,600 2,992,300 813,700 2,388,300 75,600 299,700 - 1981 7,325,000 3,087,700 848,400 2,996,100 74,700 318,100 - NOTE - The schedule above includes only those tax revenues recorded in the General Fund. I I I I I I I I 76
l I l CITY OF TALLAHASSEE, FLORIDA PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Fiscal Years l Total Taxable I Fiscar ssessed Assessed Tax Parcent Year Valuation Valuation Levy Collection (1) 1972 $ 985,593,500 $ 402,148,800 $1,395,800 $1,362,200 98 1973 (2) 1,078,178,700 438,977,100 1,536,400 1,488,000 97 1974 (2) 1,561,689,100 714,037,900 2,499,100 2,399,600 96 1975 (2) 1,654,962,000 729,603,400 2,553,600 2,488,300 97 1976 1,487,121,900 745,149,800 2,608,000 2,528,800 97 1977 1.619,802,000 761,861,000 2,687,500 2,605,800 97 1978 1,707,374,200 835,812,600 2,757,900 2,664,900 97 1979 1,812,233,400 877,107,600 3,069,900 2,971,800 96 1980 2,234,694,600 1,133,300,400 3,168,700 3,061,400 96 1981 2,673,105,800 1,358,118,400 3,550,100 In-Process N/A (1) Florida Statutes provide for a discount of up to four percent for early payment of ad valorem taxes. All unpaid taxes become delinquent on April 1, and are sold at auction on June 1 of each year as tax certificates. The City, af ter all tax certif. cates are sold, has fully collected : 'I ad valorem tax revenues. (2) The reports received from Leon County Property Appraisers Office included a value of approximately $190 million outside the corporate City limits of Tallahassee. (Both the original and the revised figures were supplied by the Leon County Tax Appraisers Office). I I I I I I I y 77
CITY OF TALLAHASSEE, FLORIDA ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY Last Ten Fiscal Years Real Property Personal Property Centrally Assessed Totals Estimated Estimated Estimated Estimated Ratio of Total Fiscal Assessed Actual Assessed Actual Assessed Actual Assessed Actual Assessed to Total Year Value Value Value Value Value Value Value Value Estimated ActualValue 1972 $336,773,200 $809.092,800 $ 61,087,900 $174,230,800 $ 940,400 $ 940,400 $ 398,801,500 $ 984,264,000 40.5 % 1973 364,675,100 846.817,800 73,314,500 230,373,500 987,500 987,500 438,977,100 1,078.178,800 40.7 % 1974 618,273.000 1,262,842,200 94.784,700 297,866,700 980.200 980,200 714.037,900 1,561,689,100 45.7 % 1975 622,431,700 1,323,518,900 106,185,900 330,457,200 985,900 985,900 729,603,500 1,654,962,000 44.1 % 1976 630,408,400 1,147,589,600 113,772,700 338,563,500 968,800 968,800 745.149,900 1,487,121,900 50.1 % 1977 646,843,800 1,323,381,600 119,759,800 295.163,000 1,257,400 1,257,400 767,861,000 1,619,802,000 47.4 % 1978 662.601,800 1,395.453,100 124,145,300 310,688,500 1,232,600 1,232,600 787,979,700 1,707.374,200 46.2 % 1979 736,387,700 1,475,325,700 139,453,000 335,640,800 1,266.900 1,266,900 877,107t>00 1,812,233,400 48.4 %
- 1980 977,298,600 1,871,964,200 154,777,400 361,506,000 1,224.400 1,224,400 1,133.300,400 2.234,694,600 50.7 %
1981 1,181,643,100 2,208,638,800 175,217,100 463,208,800 1,258,200 1,258,200 1,358.118,400 2,673,105,800 50.8 % E E E E E E E E E E E E E E E E E
CITY OF TALLAHASSEE, FLORIDA ASSESSED VALUATIONS, MILLAGE AND TAXES LEVIED AND COLLECTED Last Ten Fiscal Years 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 TOTAL VALUATsONS $965.593.500 $1.078.178 700 $1.516.681.100 11.654 962.000 $1.48 7.121.900 $1.619 802.000 $1.707.374 200 $1.812.233 400 $2.234.694 600 $2.673.105 800 RE AL ESTATE E AEMPTIONS Agaculturai Adiustment - - - - 78.500 78.500 78.500 153.700 233.700 1.327.300 j Govartwnenl E nemption 181.947.500 230.949 500 305 046.600 465 122.800 319 920.100 280 253 100 286.440.t00 335.825.300 372.483.000 487.684.500 Institutional E sempte 343 722.700 349.963 000 483 917.200 362.158 400 325 600.800 470.096.100 471.701.100 475.200.600 497.469.200 509.079.900 inevidual or Homestead E semptons 57.082.000 56.200 800 56.584.000 65.380.200 65.971.500 69,502.100 10.603.2JO 71.387.300 168 271.600 242.145.700 Other Charitable E semptior's 692.500 2.089.100 2.103 400 2,475 900 2.669.100 2.806.100 2.393,600 2.568 900 2.406.300 2.916.100 ; PE RSONAL PROPERTY ADJU$TMENT Difference Be%een inventory at Average Rate and 25% of Vane (10% for i 197S t 961) - - - 30.221.300 27.732.100 29 205.100 40 345.100 49.990.000 60.530 300 11.833.900 TOTAL ExFMPflON AND ADJUSTuf HTS $83 444.700 639 202.400 847.651.200 925.358 600 741.972.100 851.941.000 871.561.600 935.125 800 1.101.394.100 1.314 987.400 f AXABLE VALUAYON
$402.148 800 $ 438 976 300 1 714.037.900 $ 729 603 400 5 745.149 800 $ 767.86T.000 $ 835 812.600 $ 877.107.600 $1.133.300.500 $1.358.118 400 ulLLAGE LEVIED 3 50 3 50 3 50 3 50 3 50 3 50 3 50 3 50 2 796 2 614 TOTAL YAAE$ LEVIED 1 1.395.800 $ t.536 400 5 2 499.100 5 2.553 600 $ 2.608 000 5 2.687.500 1 2 925.300 5 3.069.900 1 3.168 700 $ 3 550.100 Less Adiustment and Discounts 20 900 50.800 -
43 900 53 700 74 800 78.700 94 700 86,100 trvProcess het Tases tevied S 1.374.700 $ 1.485.600 $ 2.499100 5 2.509100 $ 2.554.300 $ 2?I2.700 5 2.679.200 $ 2.975 200 $ 3.082.600 In. Process NET COLLECTED (1) 5 1.362 200 $ 1.478 000 5 2.399 600 5 2.448 300 $ 2 528.800 5 2.605 800 $ 2.664 900 5 2.971800 $ 3.061 400 trvProcess n up to tout percent for ear'y payment Cl ad valorem tases All unpaid lanes become dehf%ent On Apfel 1 and are sold at auCICn On (1) Florida Statutes prove for a encou t of June 1 of each year as las Certtricates The C4ty. atter all tan certACates are Sold. has tuHy ColhBCled all ad valorem taa revenues w D e w m W 79
l I: CITY OF TALLAHASSEE, FLORIDA PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS Last Ten Fiscal Years City of Tallahassee County School Board Leon County N.W. Water Fiscal Debt Debt Debt Management Year Operating Service Operating Service Operating Service District Total 1972 3.50 0 10.000 2.019 7.250 0 0 22.769 1973 3.50 0 10.000 1.650 7.250 0 0 22.400 1974 3.5'O 0 7.800 0.000 4.250 0 0 15.550 1975 3.50 0 7.970 0.500 4.330 0 0 16.300 1976 3.50 0 8.000 0.500 4.400 0 0 16.400 1977 3.50 0 8.000 0.730 5.500 0 0.050 17.780 1978 3.50 0 8.000 0.720 5.640 0 0.050 17.950 1979 3.50 0 6.750 0.634 3.640 0 0.05C 14.574 1980 2.796 0 6.159 0.551 4.846 0 0.050 14A02 1981 2.614 0 8.112 0.386 5.359 0 0.050 16.521 I I I I I l I I 1 I I I I 80
s CITY OF TALLAHASSEE, FLORIDA SPECIAL ASSESSMENT COLLECTIONS ( Last Ten Fiscal Years Total Total ( Assessments Due - Ratio of Outstanding Current Collections Assessments Fiscal Beginning of Assessments To Amount End of [ Year Fiscal Year Collected Due Fiscal Year 1972 $ 264,300 $154,000 58.28 % $ 195,100 1973 195,100 109,100 55.92 % 173,500 1974 173,500 85,500 49.31 % 183,500 1975 183,500 62,800 34.23 % 176,700 1976 176,700 35,900 20.29 % 151,300 1977 151,300 56,600 37.41 % 221,000 1978 221,000 55,500 25.12 % 156,900 1979 156,900 31,700 20.20 % 125,300 1980 125,300 25,100 20.06 % 1,014,000 1981 1,014,000 117,000 11.54 % 1,057,700 r k The Charter of the City of Tallahace,ee allows the City Commission to assess the costs of street ( paving and sidewalks construction to the adjacent owners. Normally, this is collected in equal principal installments over a ten-year period with interest computed at eight percent. This assessment constitutes a lien against the pr6herty which can be foreclosed upon default. [ [ [ [ L F L b 81 r L _--_ - - - - - - - - - - - - - -
i CITY OF TALLAHASSEE, FLORIDA g COMPUTATION OF LEGAL DEBT MARGIN g September 30,1981 TAXABLE ASSESSED VALUE $1,358,118,400 Ii I I Debt Limit 20 Percent of Assessed Value $ 271,623,700 I Amount of Debt Applicable to Debt Limit: Total Bonded Debt $ - Other Debt - Less: Assets in Debt Service Funds - Other Deductions Allowed by Law - -
$ 271,623,700 I
Legal Debt Margin I The City of Tallahassee has no general obligahbn l det't outstanding; the amount of general obligation debt the City can issue is limited by City Charter. I I I I I I I I 82
i h CITY OF TALLAHASSEE, FLORIDA COMPUTATION OF DIRECT AND OVERLAPPING DEBT September 30,1981 ( DIRECT DEBT ( City Tax Supported Ad Valorem Debt $ - Non Self-Supporting Revenue Debt: Capital Bonds, Series 1978 (Dated 6-15-78) $ 38,800.000 Capital Bonds, Series 1981 Anticipation Notes (Dated 4/1/81) 20,000,000 Less: Sinking and Reserve Funds (7,444,500) $ 51,355,500 Total Non Self-supporting Revenue Debt 51,355,500 Self-Supporting Revenue Debt: Electric Revenue Bonds, Series 1977 (Dated 3/1/77) 121,005,000 [ Electric Revenue Bonds, Series 1981 Anticipation L Notes (Dated 4/1/81) 3,000,000 Less: Sinking and Reserve Funds (10,800,400) 113,204,600 Water and Sewer Revenue Bonds (Dated 5/1/64) 600,000 Gas Revenue Bonds, Series A B, and C (Dated 1/1/55-56-57) 485,000 [ Municipal Utility Revenue Bonds (Dated 10/1/70-79) 21,225,000 L Less: Sinking and Reserve Fund (2,207,500) 20,102.500 Total Self-Supporting Revenue Debt 133,307.100 Total Direct Debt 184,662,600 OVERLAPPING Tax Supported Ad Valorem Debt Special Tax School District No.1 School Bonds (Dated 2/1/64-10/1/68) 5,555,000 [ Less: Sinking and Reserve Funds (677,000) 4,878,000 Non Self-Supporting Revenue Debt: Leon County Capital improvement Series 1976-77 Revenue Bonds Civic Center (Dated 10/1/76) 7,170,000 Less: Sinking and Reserve Funds (613,600) 6,556 400 Leon County Capital Improvement Series 1977 ( Revenue Bonds Land Fill (Dated 7/1/78) 1,615,000 Less: Sinking and Reserve Funds (216.200) 1,398,800 Total Overlapping Debt $ 12,833,200 f CITY SHARE OF NET OVERLAFPING DEBT (1) 7,699,900 L TOTAL CITY DIRECT AND OVERLAPPING DEBT $192,362.500 L (1) City share calculated based on 1981 County Taxable Valuation of $2,282,294,700 and City Taxable Valuation of $1,358,118,400; percent overlapping 60% L 83
I CITY OF TALLAHASSEE, FLORIDA g SCHEDULE OF GENERAL REVENUE BOND COVERAGE g Last Ten Fiscal Years Percent of Debt Service Debt Service Requirements Fiscal Gross Coverage to General g Year Revenue Expenditures Principal InterestW Total Ratio Expenditures g 1972 $10,012,300 $ 9,748,300 $ 195,800 $ 327,800 $ 523,600 19.1 5.4 1973 11,232,100 11,127,900 186,900 253,200 440,100 25.5 4.0 g 1974 15,062,100 15,030,500m 186,900 997,300 1,184,200 12.7 7,9 g 1975 16,453,800 '6,089,600 495,700 1,481,900 1,977,600 8.3 12.3 1976 17,552,100 17,312,300 539,400 1,464,600 2,004,000 8.8 11.6 g 1977 23,177,600 19,369,500(2) 596,100 1,440,300 2,036,400 11.4 10.5 g 1978 23,025,700 24,321,800m 955,000W 910,000 1,865,000 12.3 7.7 1979 24,723,000 24,932,400 920,000 2,208,600 3.128,600W 7.9 12.5W g 1980 27,322,000 27,185,000 3,175,000 2,488,300 5,663,300 4.8 11.6W g 1981 34,904,400 35,126,100 3,260,000 3,325,400 6,585,400(6)(7) 5.3 8.5(ex7) (1) The City consolidated many of its Special Revenue Funds into the General Fund beginning in 1974. Revenues and expenditures within these funds were not included as part of the General Fund. Expenditures within these Special Revenue Funds during 1973 amounted to over $1,800,000. (2) By City Commission action, the City of Tallahassee created a Reserve for Deficiencies and Emergencies in the I amount of $2,006,300. (3) At the end of fiscal year 1977-78, the City Commission authorized transfers to other funds in the amount of I
$3,078,000 for the creation of reserve to further strengthen the City's financial position. This amount included
$250,000 for the Insurance Reserve Fund, $1,927,000 to fund permanent inventories for the Warehouse, Garage, and Purchasing Funds, $15,000 for working capital of the Stadium Operation and Maintenance Fund and $886,000 l
=
for Fleet Management, if these transfers had not been made, the General Fund would have had an excess of revenues over expenditures of $1,781,900. (4) Interest expenses reflect only that which was paid from current revenues and does not include any capitalized interest. (5) The City advance refunded all of its outstanding General City Debt using the invested Sinking Fund technique. l Some of the principal payments shown actually reflect the purchase of direct U.S. Government Obligations which are irrevocably pledged and held by a trustee for the payment of principal. I (6) On March 1979 the City sold $2,500,000 of Capital Bonds, Series 1979, Anticipation Notes to mature April 1,1980 at 6% On March 28,1980 the City issued $2,500,000 of Capital Bonds, Series 1979, Renewal Anticipation Notes to mature October 1,1981 at 9% The proceeds of the Renewal Notes were used to retire the 1979 Notes at maturity. The City has subsequently set aside from other available funds, monies sufficient to retire the Renewal Notes at maturity. The retirement of the 1979 Notes and the Renewal Notes are not reflected in " Percentage of Debt Service to General Expenditures." (7) On May 26,1981 the City sold $20,000,000 of Capital Bonds, Series 1981, Anticipation Notes to mature April 1, l 1983 at 8.75% Simultaneous with the sale the City escrowed a sum sufficient to pay all principal and interest due u on the 1979 Renewal Notes due Ocm aer 1,1981. The debt service on the 1979 Renewal Notes and the 1981 Notes are not reflected in " Percentage of Debt Service to General Expenditures" 84
m D D U m O v v m. m m. m v n n > i CITY OF TALLAHASSEE, FLORIDA CONSTRUCTION, BANK DEPOSITS AND PROPERTY VALUES For the Years Indicated Commercial Residential Construction (1) Construction (1) Bank Deposits (2) Property Valui.e (3) Number Nurr.aer Commercial Savings & Year of Units Value of Units Value Banks Loan Assn. Commercial Residential Agricultural NorFTaxable 1971 47 8,874,500 2,095 22,436,500 211,418,000 93,501,500 Not Available Not Available Not Available Not Available 1972 80 17,393,100 2,586 33,397,300 249,527,200 113,573,700 Not Available Not Available Not Available Not Available 1973 38 1,640,500 1,673 17,052,900 319,880,100 131,746,200 Not Available Not Available Not Available Not Available l 1974 30 2,175,800 587 7,926,100 308,959,000 151,468,200 Not Available Not Available Not Available Not Available 1975 19 3,981,500 207 5,389,900 319,959,100 201,200,800 382,496,500 478,623,900 165,400 279,557,700
$ 1976 35 2,922,700 371 7,948.400 342.132,600 245,644,300 387,396,300 480,470,100 165,400 279,557,700 1977 36 6,498,300 663 11,370,100 361,642,900 294,281,000 395,831,300 488,698,200 165,400 438,686,600 1978 24 1,616,100 626 9,424,700 487,031,900 331,357,500 395,751,700 541,096,900 165,400 458,439,100 1979 31 4,738,400 689 12.194,200 425,285,800 359,790,000 402,684,500 592,536,000 245,300 479,859,900 1980 25 6,929,100 719 18,228,600 472,875,600 383,033,700 462,128,800 875,258,700 333,500 534,243,300 (1) Source: Tallahassee Leon County Planning Department (2) Source: Tallahassee Business Barometer - Tallahassee Chamber of Commerce (3) Source: Leon County Property Appraiser - Estimated Actual Value Information for the years 1971-1974 is not available according to the Leon County Property Appraiser's Office. ,
l 1
CITY OF TALLAHASSEE, FLORIDA SPECIAL CITY DEBT CAPITAL BONDS - SERIES 1978 September 30,1981 Principal Invested invested Amount of g Sinking Sinking Net Sinking g Fund Fund Payment Coupon Fuad Principal Interest Purchascs Earnings Due Rate % Purchases 11-15-81 $ - $1,220,920 $395,175 $121,699 $1,494,426 - $405,000 5-15-82 - 1,220,920 419,628 137,616 1,502,932 - 430,000 11-15-82 - 1,220,920 370,891 154,547 1,437,264 - 380,000 5-15-83 - 1,220,920 419,762 169,509 1,471,173 - 430,000 11-15-83 - 1,220,920 444,239 186,441 1,478,718 - 455,000 5-15-84 - 1,220,920 463,847 204,356 1,480,411 - 475,000 11-15-84 - 1,220,920 478,578 223,059 1,476,439 - 490,000 5-15-85 - 1,220,920 507,872 242,353 1,486,439 - 520,000 11-15-85 - 1,220,920 517,842 262,828 1,475,934 - 530,000 5-15-86 - 1,220,920 547,266 283,697 1,484,489 - 560,000 11-15-86 - 1,220,920 566.927 305,747 1,482,100 - 580,000 5-15-87 - 1,220,920 591,490 328,584 1,483,826 - 605,000 11-15-87 - 1,220,920 606,292 352,406 1,474,806 - 620,000 5-15-88 - 1,220,920 640,669 376,819 1,484,770 - 655,000 g 11-15-88 - 1,220,920 660,393 402,609 1,478,704 - 675,000 g 5-15-89 - 1,220,920 689,920 429,188 1,481,652 - 705,000 11-15-89 - 1,220,920 714,575 456,947 1,478,548 - 730,000 g 5-15-90 - 1,220,920 744,146 485,691 1,479,375 - 760,000 3 11-15-90 - 1,220,920 788,433 515,616 1,493,737 - 805,000 5-15-91 - 1,220,920 818,058 547,313 1,491,665 - 835,000 g 11-15-91 - 1,220,920 842,809 580,191 1,483,538 - 860,000 g 5-15-92 - 1,220,920 682,297 614,053 1,489,164 - 900,000 11-15-92 - 1,220,920 907,111 649,491 1,478,540 - 925,000 g 5-15-93 - 1,220,920 873,090 685,913 1,408,097 - 890,000 m 11-15-93 1,000,000 1,220,920 - 720,956 1,499,964 5.80 - 5-15-94 1,055,000 1,191,920 - 720,956 1,525,964 5.90 - 11-15-94 995,000 1,160,797 - 720,956 1,434,841 5.90 - 5-15-95 1,090,000 1,131,445 - 720,956 1,500,489 6.00 - 11-15-95 1,125,000 1,098,745 - 720,956 1,502,789 6.00 - 5-15-96 1,165,000 1,064,995 - 720,956 1,509,039 6.10 - 11-15-96 1,200,000 1,029,462 - 720,956 1,508,506 6.10 - 5-15-97 1,240,000 992,862 - 720,956 1,511,906 6.20 - 11-15-97 1,280,000 954,422 - 720,956 1,513,466 6.20 - 5-15-98 1,325,000 914,742 - 720,956 1,518,786 6.30 - 11-15-98 1,360,000 873,005 - 720,956 1,512,049 6.30 - (Continued on Next Page) 86
CITY OF TALLAHASSEE, FLORIDA SPECIAL CITY DEBT CAPITAL BONDS - SERIES 1978 { September 30,1981
~
(Continued) Principal Invested Invested Amount of Sinking Sinking Net Sinking { Fund Fund Payment Coupon Fund Principal Interest Purchases Earnings Due Rate % Purchases 5-15-99 $ 1,405,000 $ 830,165 $ -
$ 720,956 $ 1,514,209 6.35 -
11-15-99 1,455,000 785,556 - 720,956 1,519,600 6.35 - 5-15-00 1,510,000 739,360 - 720,956 1,528,404 6.40 - 11-15-00 1,555,000 691,040 - 720,956 1,525,084 6.40 - 5-15-01 555,000 641,280 - 720,956 475,324 6.40 - 11-15-01 580,000 623,520 - 720,956 482,564 6.40 - 5-15-02 1,330,000 604,960 - 720,956 1,214,004 6.40 - l 11-15-02 - 562,400 - 720,956 (158,556) - - I g 5-15-03 - 562,400 - 720,956 (158,556) - - ( 11-15-03 - 562,400 - 720,956 (158,556) - - 5-15-04 - 562,400 - 720,956 (158,555) - - 11-15-04 - 562,400 - 720,956 (158,556) - - 5-15-05 - 562,400 - 720,956 (158,556) - - 11-15-05 - 562,400 - 720,956 (158,556) - - 5-15-06 - 562,400 - 720,956 (158,556) - - j 11-15-06 - 562,400 - 720,956 (158,556) - - 5-15-07 - 562,400 - 720,956 (158,556) - - 11-15-07 17,575,000 562,400 - 720,956 17.416,444 6.40 - TOTALS $38,800,000 $52,037,676 $14,891,310 $29,624,367 $76.104,619 $15,220,000 ( Bonds Dated: June 15,1978 Original Issue Amount: $38,800,000 Principal Due: June 15 and November 15 of each year beginning November 15,1993 Intsrest Due: June 15 and November 15 of each year beginning November 15,1978 f Paying Agent: Industrial National Bank of Rhode Island Bonds Maturing Call Premium f Nov:mber 15,1988 to November 14,1989 Two Percent Nov:mber 15,1989 to November 14,1990 One and One-hall Percent Nov:mber 15,1990 to November 14,1991 One Percent Nov:mber 15,1991 to November 14,1992 ( Nov:mber 15,1992 and Thereafter One-half of One Percent Par Security: The Bonds are secured and payable by an irrevocable first or prior lien on certain revenues of current ( S:wsr System.servic:s, State Revenue Sharing,10% Utility Tax, and " Uncommitted Revenues" of the City's Bond Ratings: Moody's A1, Standard & Poor's A Nota: On May 15, 1978, the City refunded all of its outstanding Capital Revenue Bonds ($31,050,000) and the cutstanding Municipal Hospital Utility Tax Bonds ($2,706,000) and acquired $5,718,000 in new construc' ion funds. This w:s accomplished by using the invested Sinking Fund technique through advanced refunding. ( 87 ( _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
I CITY OF TALLAHASSEE, FLORIDA g
SUMMARY
OF DEBT SERVICE REQUIREMENTS g ELECTRIC SYSTEM UNTIL MATURITY g September 3'),1981 3 Fiscal Electric Revenue Bonds, Series 1977 g Year Coupon g Ending Principal Interest Total Rate % 1982 $ 4,005,000 $ 6,764,640 $ 10,769,640 4.35 3 1983 4,210,000 6,590,423 10,800,423 4.50 E 1984 4,395,000 6,400,972 10,795,972 4.65 1985 4,600,000 6,196,605 10,796,605 4.80 g 1986 4,820,000 5,975,805 10,795,805 4.90 g 1987 4,265,000 5,739,625 10,004,625 5.00 1988 4,490,000 5,526,375 10,016,375 5.15 1989 4,720,000 5,295,140 10,015,140 5.30 1990 4,970,000 5,044,980 10,014,980 5.40 1991 5,235,000 4,776,600 10.011,600 5.50 1992 5,525,000 4,488,675 10,013,675 5.60 g 1993 5,830,000 4,179,275 10,009,275 5.80 5 1994 6,165,000 3,841,135 10,006,135 5.80 1995 6,565,000 3,483,565 10,048,565 5.80 1996 3,445,000 3,102,795 6,547,795 5.80 1997 3,560,000 2,902,985 6,462,985 5.80 1998 3,840,000 2,696,505 6,536,505 6.10 1999 4,070,000 2,462,265 6,532,265 6.10 2000 4,315,000 2,213,995 6,528,995 6.10 2001 4,570,000 1,950,780 6,520,780 6.10 2002 4,850,000 1,672,010 6,522,010 6.10 g 2003 5,150,000 1,376,160 6,526,160 6.10 g 2004 5,460,000 1,062,010 6,522,010 6.10 2005 5,795,000 728,950 6,523,950 6.10 2006 6,155,000 375,455 6,530,455 6.10 TOTALS $121,005,000 $ 94,847.725 $215,852,725 Bond Dated: March 1,1977 l Original Issue Amount: $134,245,000 (Refunded $129,245,000 Outstanding bonds of various issues and W provided $7,200,000 of new money). Principal Due: October 1, beginning 1978 g Interest Due: April 1 and October 1 of each year, beginning October 1,1977 g Paying Agent Chemical Bank, New York Bonds Maturing Call Premium October 1,1987 to September 30,1988 Three Percent October 1,1988 to September 30,1990 Two and One Half Percent October 1,1990 to September 30,1992 Two Percent g October 1,1992 to September 30,1994 One and One Half Percent E October 1,1994 to September 30,1996 One Percent October 1,1996 to September 30,1998 One Half of One Percent g October 1,1998 and thereafter Par 5 Security: The Bonds are secured and payable from a first lien upon and pledge of the net revenues of the Municipal Electric System. Ratings: Moody's A1, Standard and Poor's AA 88
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS UTILITY SYSTEM [ UNTIL MATURITY September 30,1981 [ Municipal Gas Revenue Bonds, ( Fiscal Year Series A Coupon Ending Principal inte.est Rate % 1982 $ 50,000 $ 6,013 3.25 1983 50,000 4,387 3.25 ( 1984 55,000 2,681 3.25 ( 1985 55,000 894 3.25 TOTALS $210,000 $13,975 Bond Dated January 1,1955 ( Original Issue Amount: $1,000,000 l, Principal Due: January 1, beginning 1957 Interest Due: January 1 and July 1 of each year, beginning July 1,1955 Paying Agent: Chemical Bank, New York Bonds Maturing Call Premium January 1,1980 and thereafter Par { Security: The Bonds are secured ano payable, on a parity with the outstanding Municipal Gas { Revenue Bonds, Series B and C, from a first lien upon the net revenues of the Municipal Gas System. ( Bond Rating: Moody's NR, Standard and Poor's A [ [ [ [ [ [ 89 f - - - - - - - - - - -
III CITY OF TALLAHASSEE, FLORIDA i
SUMMARY
OF DEBT SERVICE REQUIREMENTS UTILITY SYSTEM UNTil M ATURITY September 30,1981 Municipal Gas Revenue Bonds, Series B Fiscal Year Coupon Ending Principal Interest Rate % i 1982 $ 25,000 $ 4,219 3.75 1983 25,0LJ 3,218 3.75 1984 25,000 2,344 3.75 1985 25,000 1,405 3.75 1986 25,000 469 - TOTALS $125,000 $11,655 l Bond Dated: January 1,1956 I Original Issue Amount: $500,000 Principal Due: January 1, beginning 1958 Interest Due: January 1 and July 1 of each year, beginning July 1,1956 Paying Agent: Chemical Bank, New York Bonds Maturing Call Premium January 1,1980 and thereafter Par l Security: The Bonds are secured and payable, on a parity with the outstanding Municipal Gas 1 Revenue Bonds, Series A and C, from a first lien upon the net revenues of the Municipal Gas System. Bond Rating: Moody's NR, Standard and Poor's A I I I I 90 I
I CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS UTILITY SYSTEM UNTIL MATURITY I September 30,1981 Municipal Gas Revenue Bonds, Fiscal Series C Year Coupon Ending Principal Interest Rate % 1982 $ 25,000 $ 4,950 3.60 1983 25,000 4,050 3.60 19t$4 25,000 3,150 3.60 1985 25,000 2,250 3.60 1986 25,000 1,350 3.60 1 1987 25,000 450 3.60 TOTALS $150,000 $16,200 Bond Dated: January 1,1957
- Original issue Amount: $500,000 Principal Due: January 1, beginning 1,959 Interest Due: January 1 and July 1 of each year, beginning July 1,1959 iI Paying Agent: Chemical Bank, New York Bonds Maturing Call Premium I January 1,1980 and thereafter Par Security: The Bonds are secured and payable, on a parity with the outstanding Municipal Gas Revenue Bonds, Series A and B, from a first lien upon the net revenues of the Municipal Gas System.
Bond Rating: Moody's NR, Standard and Poor's A I I I i
- I I I
I CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS UTILITY SYSTEM UNTIL MATURITY September 30,1981 Municipal Water and Sewerage Fiscal Revenue Bonds, Series of 1964 Year Coupon Ending Principal Interes Rate % 1982 $100,000 $14,600 3.60 1983 100,000 11,000 3.60 1984 100,000 7,400 3.60 1985 100,000 3,800 3.60 1986 100,000 200 0.10 1987 100,000 100 0.10 TOTALS $600,000 $37,100 Bond Dated: May 1,1964 Original Issue Amount: $1,700,000 Principal Due: May 1, beginning 1966 Interest Due: May 1 and November 1 of each year, beginning May 1,1964 Paying Agent: Chemical Bank, New York Bonds Maturing Call Premium g May 1,1980 and thereafter Par W Security: The Bonds are secured and payable, on a parity with the Water and Sewerage Revenue Bonds, Series 1958, from a first lien upon the net revenues of the Water and Sewerage System. Bond Rating: Moody's A1, Standard and Poor's AA I I I I I 92 I
i CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS l UTILITY SYSTEM UNTil MATURITY September 30,1981 l Fiscal Municipal Utility Revenue Bonds, Series 1970 Year Coupon l Ending Principal Interest Total Rate % 1982 $ 150,000 $ 379,125 $ 529,125 6.10 1983 150,000 369,975 519,975 6.10 1984 175,000 360,825 535,825 6.10 1985 200,000 350,150 550,150 6.10 1 1986 275,000 337,950 612,950 6.10 l 1987 300,000 321,175 621,175 6.10 1988 450,000 302,875 752,875 6.10 1989 475,000 275,425 750,425 6.00 l 1990 500,000 246,925 746,925 5.90 1991 550,000 217,425 767,425 5.95 1992 600,000 184,700 784,700 6.00 l 1993 650,000 148,700 798,700 6.00 1994 650,000 109,700 759,700 6.00 1995 700,000 70,700 770,700 6.00 1996 700,000 28,700 728,700 4.10 l TOTALS $6,525,000 $3,704,350 $10,229,350 Bond Dated: October 1,1970 l Original Issue Amount: $7,300,000 I Principal Due: October 1, beginning 1972 Interest Due: April 1 and October 1 of each year, beginning October 1,1972 Paying Agent: Chemical Bank, New York Bonds Maturing Call Premium , l \' l October 1,1986 - September 30,1989 Three Percent October 1,1989 - September 30,1992 Two Percent i October 1,1992 and thereafter l prior to maturity One Percent Security: The Bonds are secured and payable, on a parity with the Outstanding Municipal Utility Revenue l Bonds, Series 1970-A and 1979, as subordinate as to tien on and security for payment to the outstanding Municipal Gas Revenue Bonds and outstanding Municipal Water and Sewerage Revenue Bonds, from the net revenues of the Municipal Gas, Water and Sewerage Systems. l Bond Ratings: Moody's A1, Standard and Poor's A+ 5 l I 1 I I I l _ - - - - -
I CITY OF TALLAHASSEE, FLORIDA g
SUMMARY
OF DEBT SERVICE REQUIREMENTS g' UTILITY SYSTEM UNTIL MATURITY g September 30,1981 g Fiscal Municipal Utility Revenue Bonds, Series 1970-A Year Coupon Ending Principal Interest Rate % 1982 $ 125,000 $ 153,025 4.3 1983 150,000 147,650 4.5 1984 150,000 140,900 4.65 1985 150,000 133,925 4.80 1986 150,000 126,725 4.95 1987 175,000 119,300 5.1 1988 175,000 110,375 5.2 1989 200,000 101,275 5.3 1990 200,000 90,675 5.4 E 1991 200,000 79,875 5.5 m 1992 200,000 68,875 5.6 1993 200,000 57,675 5.7 g 1994 250,000 46,275 5.75 3 1995 250,000 31,900 5.8 1996 300.000 17,400 5.8 g TOTALS $2,875,000 $1,425,850 m Bond Dated: October 1,1970 Original Issue Amount: $3,150,000 g g Principal Due: October 1, beginning 1977 Interest Due: April 1 and October 1 of each year, beginning April 1,1977 Paying Agent: Chemical Bank, New York Bonds Maturing Call Premium October 1,1986 to April 1,1989 Three Percent October 1,1989 to April 1,1992 Two Percent October 1,1992 and thereafter prior to maturity One Percent s Security: The Bonds are secured and payable, on a parity with the Outstanding Municipal Utility Revenue Bonds, Series 1970 and 1979, as subordinate as to lien on and security for payment to the outstanding Municipal Gas Revenue Bonds and outstanding Municipal Water and Sewerage Revenue Bonds, from toe . net revenues of the Municipal Gas, Water and Sewerage Systems. Bond Ratings: Moody's A1, Standard and Poor's A+ I 94
e CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS ' UTILITY SYSTEM UNTIL MATURITY September 30,1981 Municipal Utility Revenue Bonds, Series 1979 F scal -' ' Year Coupon
^ Principal
( Ending Interest Rate % 19532 $ 175,000 $ 700,478 6.25 1983 180,000 689,540 6.25 1984 190,000 678,290 6.25 1985 - ~ - 200',000 666,415 6.25 1986 210,000 653,915 6.25 225,000 640,790 1987 6.25 1988 255.000 626,727 6.25 r 1989 250,000 612,040 5.50 1990 265,000 598,290 5.50 [ 1991 , 280,000 583,715 5.50 1992 295,000 568,315 5.60 ( 1993 1994 315,000 335,000 551,795 534,155 5.60 6.20 1995 355,000 513,385 5.75 375,000 492,972 ( 1996 1997 , 1,405,000 471,223 5.80 5.85 1998 1,490,000 389,030 5.90 1999 1,580,000 301,120 5.90 ( - 2000 1,680,000 207,900 6.00 2001 1,785,000 107.100 6.00
$11,825,000 $10,587,195
( TOTALS Bond Dated. April 1,1979 Original Issue Amount: S12,000,000 Principal Due: October 1, beginning 1981 Interest Due: Aoril 1 and , October 1, beginning April 1,1930
' Paying Agent: Chemical Bank, New York Bonds Maturing Call Premium p Ocicber 1,1959 to September 20,1991 Three Percent L Octobpr 1,1991 to September 30,1994 Two Percent October 1,1994 to September,30,1996 One Percent October 1,1998 and thereafter' Par
~
Security. The Bends are secured and payable, on a parity with the Outstanding Municipal Utility Revenue Bonds, Se ies 1970 and 1970-A, and subordinate as to tien on and security for payment to the outstanding [ Municipal t as Revenue Bonds and outstanding Municipal Water and Sewerage Revenue Bonds, from the L net revenuec of tho Municipal Gas,~ Water and Sewerage Systems. Bond Ratings Moody's A1, Standard and Poor's A+ L _ l 95 r
CITY OF TALLAHASSEE, FLORIDA PRINCIPAL TAXPAYERS September 30,1981 Assessed Valuation Percentage of Real Tangible Personal Total Assessed Taxpayer Property Property Total Valuation Central Telephone $ 4,961,300 $72,548,500 $ 77,499,800 5.7 % iallahassee Mall 15,883,600 10,500 15,894,100 1.2 Northwood Mall 11,443,600 - 11,443,600 .8 g Governor's Square Mall 12,953,0C0 141,100 13,094,100 1.0 m 1.B. M . - 10,122,400 10,122,400 .8 First Financial Corp. 8,952,300 926,200 9,878,500 .7
'laltrusco (Barnett Bank) 5,910,500 454,800 6,365,300 .5 Holiday Inn 4,756,700 646,100 5,402,800 .4 Hi: ton Hotel 4,300,000 406,800 4,706,800 .4 Tallahassee Democrat 3,537,600 3,336,600 6,874,200 .5
$72.688,600 $88,593,000 $161,281,600 12.0 %
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CITY OF TALLAHASSEE, FLORIDA a SCHEDULE OF INSURANCE IN FORCE September 30,1981 Estimated Policy Period Annual Name of Company Policy Number From To Details of Coverage Liability Limit Premium I Home Indemnity Hartford Steamboiler GG994027-BA991204 AT 9424085-DO 10/1/80 10/1/83 10/1/80 10/1/83 Public Liabihty Boiler and Machinery
$500.000
$20,000.000
$348.600 173.900 Vanguard 81%0001 TC 6/17/81 6/17/82 Pubhc Offical Liability $1,000.000 11.900 Puntan insurance P52064 10/1/80 10/1/83 Airport Liability $10.000.000 13.700 towa National Mutual PG N)127461 3/29/81 3/29/82 Airport-Plate Glass Replacement 800 INA BBF118765 6/26/77 6/26/82 Robbery-Safe $62.000 800 l
l Travelers BT-13%60 10/1/80 10/1/83 Accidental Death-l Firemen & Pohce $20.000 9.900 l I National Union 7485906 10/1/80 10/1/83 Guilding and Equipment Fire and windstorm Replacement 100.200 Allied SFC-544-701 10/1/81 10/1/82 Warehouse-f:re $2.665.000 5.500 Amencan VP1020535 11/9/80 11/9/82 Valuable Papers-fire $100.000 100 Allied SFA-902-747 4/17/81 4/17/82 Water Tank-Windstorm Replacement 3.000 USF&G 33-0170 1052-74 7/1/81 7/1/82 Pubhc O'ficial Bond $50.000 400 South Carohna FS901513 2/15/81 2/15/84 Honesty Blanket Position Bond $10.000 2.100 I I 97
CITY OF TALLAHASSEE, FLORIDA g SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS E September 30,1981 I Annual Amount of Name Title Salary Surety Bond James Ford City Commissioner S 7,100 $ - Samuel Taague City Commissioner .7.100 - Hurley Rudd City Commissioner 7,100 - Carol Bellamy City Commissioner 7,100 - Kent Spriggs City Commissioner 7,100 - l Daniel Kleman City Manager 50,835 50,000 Joe Dykes Deputy City Manager 43,320 10,000 Dean Block Deputy City Manager 40,488 10,000 Thomas Smith Director Underground l Utility 40,620 10,000 R. A. Miller, Jr. Director Public Works 40,560 10,000 Jim Kirkland Director Finance 39,240 100,000 Herbert Seckel Auditor-Clerk 38,476 50,000 Kenneth Morgan Director Electric 36,060 10,000 Lynne Brion Director Employee Relations 34,680 10,000 Fred Joiner Director Data Processing 33,761 10,000 Randy Trousdell Director Parks and Recreation 33,900 10,000 James Gould internal Auditor 32,853 10,000 Melvin Tucker Police Chief 33,360 10,000 Edwin C. Ragans Fire Chief 30,900 10,000 Bob Inzer Treasurer 29,178 100,000 Larry Carter Director Taltran 27,420 10,000 Bob Johnson Director Airport 26,880 10,000 Darryl Gorham Director Community Improvemei., 25,680 10,000 l Sharon Strong Director Aff. Action 21,120 10,000 l Charles Messer Comptroller 33,966 15,000 g l Kenneth Branch Cashier 23,914 50,000 g l Terry Barfield Purchasing Administrator 28,544 15,000 Waldo Thomas Supply Superintendent 17,707 15,000 i Charles Barrier Director General Services 34,499 10,000 1 I 98
CITY OF TALLAHASSEE, FLORIDA y MISCELLANEOUS STATISTICAL DATA [ September 30,1981 r Date of incorporation 1825 [ Date First Charter Adopted 1825 Date Present Charter Adopted 1919 Form of Government: Type: Commission - Manager Commission Composed of: Mayor and Four Commissioners Terms of Office: [ Mayor - 1 Year Term
- Commissioners - 3 Year Term Manager - Appointed by Commission
( Area: Square Miles by Ten Year Periods for Last Forty Years: Land Area Increase Area New Total 1941 4.15 0.75 4.90 1951 4.90 7.00 11.90 1961 11.90 3.30 15.20 1971 15.20 10.94 26.14 [ 1981 28.00 11.00 37.00 Average Annual Temperature: 67.7 Degrees Average Annual Rainfall: ( 61.58 inches Community Facilities Electric System: Generating Plants 2 Generating Capacity 537,570 KW Net System Energy Generated 1,249,386,985 KWH Average Number Residential Customers 46,758 Average Residential Monthly Bill $51.56 { Miles of Transmission Lines 167.2 Primary Distribution Sub-System Capacity 580,000 KVA Square Miles of Service Area 183 { Sewage System: p Miles of Sanitary Sewers 445 L Number of Lift Stations 89 Daily Average Treatment (Gallons) 12.5 MGD p Maximum Capacity of Treatment Plants 15.5 MGD L Number of Disposal Plants 4 Number of Service Connections 30,000
*Each year the Commissioners, from among themselves, elect the Mayor for the City of Tallahassee, Florida (Continued on Next Page) 99
CITY OF TALLAHASSEE, FLORIDA g MISCELLANEOUS STATISTICAL DATA E September 30,1981 (Continued) Water System: Miles of Water Mains 495 E Daily Average Consumption (Gallons) 18,000,000 m Plant Capacity (Gallons) 44,000,000 Number of Service Connections 35,300 g Deep Wells 16 5 Number of Fire Hydrants 1,475 Gas System: Miles of Gas Lines 236 Daily Average Consumption (MCF) 3,833 MCF Plant Capacity (MCF) 4,000 MCF Number of Service Connections 7,400 Number of Street Lights 6,990 Miles of Streets: Streets - Paved 341 Education: Senior High Schools: 4 Number of Classrooms 292 Number of Administrative Personnel 16 Number of Teachers 319 Number of Students 6,025 University High School: 2 Number of Classrooms 63 Number of Administrative Personnel 5 g Number of Teachers 83 3 Number of Students 1,402 Middle Schools: 6 Number of Classrooms 240 Number of Administrative Personnel 18 i Number of Teachers 251 Number of Students 5,041 l Elementary Schools: 18 Number of Classrooms 403 l l Number of Administrative Personnel 40 l Number of Teachers 528 Number of Students 10,345 Vocational High School: 1 Number of Classrooms 5 g Number of Adminstrative Personnel 4 m Number of Teachers 5 Number of Students 120 (Continued on Next Page) 100
l l I l CITY OF TALLAHASSEE, FLORIDA MISCELLANEOUS STATISTICAL DATA September 30,1981 (Continucd) l Major Educational Institutions: Florida State University Florida A & M University Tallahassee Community College l Lewis M. Lively Vocational Technical College Fall Enrollment (Over a Ten-Year Period) l Year FSU FAMU TCC Lively 1960 9,019 2,961 - - 1970 16,992 4,891 2,100 - l 1980 21,735 5,900 3,300 1,107 ' l Faculty - Staff Employment (Monthly Average) Year FSU FAMU TCC Lively 1971 5,427 816 120 - 1980 7,594 1,078 280 275 1981 6,943 1,212 210 213 Fire Protection: Number of Stations 5 Nun +er of Employees 145 Police Protection: Number of Employees 220 Number of Vehicular Patrol Units 93 Number of Law Violations: Physical Arrests 2,254 Traffic Violations 5,742 Parking Violations 74,549 Jail Population: Maximum Occupancy 276 Average Occupancy 150 Recreation: Arts and Craf ts Center 1 Baseball and Sof tball Fields 71 Golf Course - Jake Gaither Municipal 9 Holes Parks 352 Acres Recreation Centers 6 Supervised Playgrounds 15 Tallahassee-Leon County Civic Center - Seating Capacity 13,500 Tennis Courts I Theaters: Tallahassee Litt!e Theatre Playhouse - Seating Capacity 23 125 Florida State University: Conradi Theator - Seating Capacity 300 Fine Arts Theater - Seating Capacity 500 Moore Auditorium 300 Opperman Music Hall- Seating Capacity 400 'I Ruby Diamond Auditorium Tully Gym - Seating Capacity 1,500 4,000 Presents a variety of productions annually. I One-fifth of these are free admission. (Continued on Next Page) 101
I) CITY OF TALLAHASSEE, FLORIDA g MISCELLANEOUS STATISTICAL DATA 3 September 30,1981 (Continued) Florida A & M University: Charles Winterwood theater - Seating Capacity 712 Foster-Tanner Fine Arts - Seating Capacity 160 Lee Hall - Seating Capacity 1,425 Perry Page Auditorium - Seating Capacity 420 Presents 50% admission free productions and shows annually. Other Recreation Activities: E Tennis, Basketball, Volleyball, and Shuffleboard Courts 32 3 Swimming Pools 4 Motion Pictures 9 g Golf Courses 5 5 Skate Rinks 3 Annual Events: Annual Capital City invitational Track and Field Meet Cultural Art Day North Florida Jr. Championship Tennis Tournament Springtime Tallahassee Tennis Tournament Annual Spring Show Tallahassee Open Golf Tournament, PGA Springtime Tallahassee Festival F.S.U. Annual Circus News, Radio and Television: Newspapers: Local Daily 1 Area Daily and Sunday 6 Radio: Local and Area Stations 13 Television: CBS WCTV g Florida State University - Educational WFSU g ABC WECA l Transportation: Airport: Tallahassee Municipal Airport - Flights daily by Eastern, Republic and Air Florida serving all sections of the United States. Bus Lines: Local - Taltran Interstate - Greyhound Bus Lines Trailways Bus System Highways: U.S. #90, U.S. #27, U.S. #319 Interstate #10 State Road #20, #369 (Continued on Next Page) 102
l s P L CITY OF TALLAHASSEE, FLORIDA MISCELLANEOUS STATISTICAL DATA f September 30, 1981 (Continued) L Railroad: Seaboard Coast Line Railroad Trucking Facilities: " Area Served by 9 Transport Common Carriers Utilities and Communications: City-owned Utilities: Electricity, Gas, Water, and Sewage [* Centel Telephone Company City Building Permits: Year Permits Building Ending issued Valuations 1971 1,151 $50,029,826 1972 1,347 58,527,803 1973 1,012 31,506,786 1974 992 50,796,446 1975 1,067 67,710,684 1976 1,127 23,479,789 1977 1,145 34,053,825 1978 1,145 45,392,521 1979 1,260 36,604,072 r 1980 1,358 50,459,437 L 1981 1,605 75,993,996 Employees as of September 30,1981 1,697 r Elections: L Number of Registered Voters 48,697 Number of Votes Cast In: Percentage of { Registered Voters Voting Last General Election 32,624 66.9 % Last Municipal Election 11,027 22.6 % Population Census (Last Four U.S. Censuses) 1940 16,240 7 1950 27,237 1960 48,174 1970 72,586 1980 81,548 1981 Est. 92,300 Economic Dimensions L Employment: Income Trends: 1959-1979 (Over a 20-Year Period) Average p Year Household income 50-7,999 $8-9,999 $10-14,999 $15-24.999 $25,000 + L, 1959 $ 6,603 76.7 % 13.5 % 9.8 % - - 1970 10,210 55.7 % 12.3 % 32.0 % - - ~ 1978 19,242 25.8 % 7.1 % 16 % 24.9 % 26.2 % ! 1979 21,186 23.1 % 6.7 % 15.1 % 24 % 31.1 % 1980 20,323 24.6 % 6.6 % 15.6 % 25.5 % 28.7 % (Continued on Next Page) 103
I CITY OF TALLAHASSEE, FLORIDA g MISCELLANEOUS STATISTICAL DATA g September 30,1981 (Continued) Sources of Personal Income: 1960 - 1980 Source of Income 1960 % 1968 % 1978 % 1979 % 1980 % Agriculture 1.6 0.6 - - 25.9 Manufacturing 6.7 5.0 3.7 3.4 2.9 g Construction 8.1 7.2 4.4 4.5 3.7 g Mining 0.1 - - - - Transportation, Communication and Public Utilities 4.5 2.4 3.5 3.2 2.3 g Trade 18.9 17.0 20.3 21.8 14.7 3 Finance, Insurance, Real Estate 6.4 5.6 4.4 4.5 3.4 Services 13.9 12.1 13.0 16.5 12.5 g Other Private Industry 0.1 0.5 - - - E Government 39.7 49.6 50.7 46.1 34.6 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % Due to the State Government and State Education Institutions, the City has a large number of professional and white-collar employees. State Noninstitutional Employment of Tallahassee and Capitol Center Estimateo Tallahassee Estimated Capitol Estimated Annual State Year Employment Center Employment Payroll in Tallahassee 1970 7,130 - 6,400 $ 49,688,970 1979 14,000 12,000 274,159,240 1981 18,000 12,530 337,225,167 Industrial: g Major Manufacturing Plants (Ranging from prestressed concrete products to national- g ly known quality mobile homes). Ir. dices of Growth (Over a Year Period): Motor Public Commercial Vehicle Airline School Tele- g Bank Regis- Pass- Postal Enroll- phone m Year Assets tration engers Receipts ment Stations 1960 $ 64,373,068 21,618 43,816 $ 1,498,291 14,959 26,831 1 l 1970 169,230,670 43,432 148,116 3,575,344 20,600 62,628 1978 504,392,939 108,049 306,524 11,443,514 21,378 113,143 1979 509,002,538 107,353 320,209 14,272,934 21,349 116,538 l 542,917,554 112,833 303,292 16,876,250 21,461 126,075 l 1980 I I 104
l l I t CITY OF TALLAHASSEE, FLORIDA DEMOGRAPHIC STATISTICS j For Years Indicated Taxable (4) Retail (4) Income (4) Savings & Loan l Estimated (4) Assessed Sales Per Association Building (2) Motor (2) l Y4ar Populaton Valuation (000's) Household Bank Assets
- Assets
- Permits Vehicles 0 48.174 5 116.053.625 $ 82.600 $ 6.670 $ 64,370.068 $ 42,163.388 $ 14,490.322 21,618 l 1%1 49.800 118,854.319 91,408 6,988 71.435,810 46.322.986 14,576,345 22.618
} 1962 50.500 124.054,736 101.968 6,956 72,390.739 51,789,143 13,277,680 23.362 1%3 52,200 134,232.250 115.474 7,187 77,375.876 58.243,952 26.848.028 26.614 8 1934 1%5 55,700 60,500 149,472.365 157,508.255 94,651 104,133 7.674 86.027.633 63.275,336 27,618,501 26.497 8.146 95.952,540 67,847.211 42,341,387 29.237 1%6 62.700 164,711,466 111,291 8.438 104,331,767 68.712,764 28.078,645 31,394 1937 63,300 219.181,060 123.675 9,337 120,219.527 78,373.129 34,254.502 34,910 1%8 64.700 243.691,220 143,712 9,938 132.867,353 82,419.666 40,164,194 37.719 1969 69.400 262.274,920 180.488 10,330 148,123.714 84,333.950 43,738,497 41,332 { 1970 72.586 342,730.400 200,875 10.210 '69.230.670 87.928.047 41.034.984 43,432 I Change 1960-70 50.7 % 195.3 % 143.2 % 53.1 % 162.9 % 108.5 % 183 2 % 100.9 % 1971 73.070 $374,059,369 $273.361 $10.812 $ n/a $ n/a $ 75.613.643 51,096 1972 I 74.986 398.801,551 297.320 11.723 291.019,897 825.948,937 155.186.167(3) 60.517 1973 76.944 438.977.189 391,217 12,648 350,281.933 959,709.257 31.457,507 75,753 1974 78,167 714,037,947 428,320 14.016 360,383,274 1.133,670,452 88,919.275 83,038 1975 78,599 729,603.502 438.979 14,304 373.420.269 1.352.801.881 67,710.684 87.056 I 1976 1977 1978 78,730 78.965 79.300 745,149,899 767.861,047 787,979.770 396.952 428.174 474,180 15.780 17.286 19.242 390.711,222 415.464.766 504.392,939 1,508,788.359 1.710,196.066 2.328.661,224 62.818.956 97,159,052 134,817,287 106,680 104,651 108.049 1979 80.257 877.107.600 408.942 21.186 509.002,538 2.160,285,480 110.908.929 107.353 1980 81.548 1.133.300.388 721.527 20.323 542.917.554 3.522.162,403 137,796.466 112.833 I Change Since 1970 12.4 % 230.7 % 259.2 % 99.1 % 220.8 % 3905.7 % 235 8 % 159.8 % I (Source. Research Department. Tallahassee Area Chamber of Commerce and City records.
- 1) U.S. Bureau of Census 1960,1970. other year estimates by Sales Management Survey of Buying Power.
('?) Leon County statistics I (density.3) Unusual increase prompted by State moratoiium on construction in urban areas potentially subject to pollution due to (4) City of Tallahassee statistics I *Due to merger, Florida Federal Savings & Loan Association's figures are not availabfe during 1971,1972, and 1973. The assets of financial institutions are now used to more reliably reflect worth. These figures are from Chamber of Commerce - Index of Leon County Growth. (Continued on Next Page) I 18 105 5
I CITY OF TALLAHASSEE, FLORIDA DEMOGRAPHIC STATISTICS ' For Years Indicated (Continued) Water Consumed (1) Gas Used (1) Leon County Electric (1) Telephone Airkne KWH Used (Gals) (Cu. Ft.) Postal School Passengers (MJhons) (Milhons) Recepts Enrollment Year Stations (000's) 43,816 192,126 1,955.3 642,727 $ 1,498,291 14,959 1960 26.831 1%1 28,424 45,307 216,543 2,169.2 834,542 893,191 1,621,133 1,613,206 14.413 15,213 l 5 1962 31,548 39,803 209.811 2,309 9 31,830 52,020 153,823 2,412.4 957,721 2,036,743 16 017 1963 277,901 2,470.2 1,004,872 2,148,105 16,717 1964 34,359 55,576 203,167 2,698.4 956,230 2,270,970 17,215 1965 36,733 62,% 6 339,972 2,847 C 1,329,483 2.457,119 17,439 1966 41,182 68,112 100,222 380,669 2,952.5 1,460,720 2,660,227 18,613 1%7 46,021 460,368 3,283.0 1,621,463 3,092,407 18,319 1968 51,453 120,001 142,494 524,557 3.350.2 1,640,844 3,221,266 20,507 1969 56,386 62,268 148,116 ' 3.687.6 1,688.160 3,575,344 20,600 1970 630.689 Change 238.0 % 228.3 % 88 6 % 162.7 % 138.6 % 37.7 % I 1960-70 132.1 % l 170,501 654,671 3,922.0 1,852,076 $ 4,621,010 23,073 1971 68.587 196,132 736,943 4,377.9 1,832,116 5.557.681 19,694 1972 75.639 219,365 850,101 4,252.9 2,021,293 6.063.260 20,925 1973 85.850 21,191 1974 91,852 234,555 811,785 4,376.1 1,783,425 7,096,521 21,543 l 1975 95.406 219,403 878.945 4,658.5 1,757,823 7,340,812 3 99,577 232.242 927,721 5,008.2 1,947,381 9,005,414 21,576 1976 107,032 272,657 1,001,891 5,148.1 1 535,655 9,458,748 21,498 1977 113,143 306.524 1.304.360 5,195.5 1,409,957 11.443,514 21,378 1978 320,209 1,553,792 5,152.2 1,459,978 14.272,934 21,349 1979 116.538 126,075 303,292 1,499.908 5.390.1 1.366.515 16.876.250 21,461 1980 Change I Since 1970 102.5 % 104.8 % 137.8 % 46 2 % (19.1 %) 372 % 4.18 % (1) Source. City Records - Electric, Water and Gas data. Other data from Research Department. Tallahassee Area Chamber of Commerce. l I I I I I 106
E '. l O' l I I FINANCIAL STATEMENTS AND I AUDITORS' REPORT CITY OF ALACHUA ALACHUA, FLORIDA Se,TsseeR so. 1,e1 g I I ' I ' I I I I I
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A
o o FINANCIAL STATEMENTS ~ AND ~ AUDITORS' REPORT CITY OF ALACHUA - ALACHUA, FLORIDA SEPTEMBER 30, 1981 ~ CONTENTS _ PAGE - AUDITORS' REPORT l-2
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COMBINED FINANCIAL STATEMENTS m Combined Balance Sheet - All Fund Types cnd Account Groups 3-4
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Statement of Revenues, Expenditures and ~ Changes in Fund Balance - Budget and Actual - Governmental (General) Fund - Type 5 Combined Statement of Revenues, Expenses, cnd Changes in Retained Earnings - All Proprietary Fund Types 6 i_ Combined Statement of Changes in Financial 4 L Position - All Proprietary Fund Types 7 NOTES TO FINANCIAL STATEMENTS 8-17
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ACCOMPANYING INFORMATION - Combining and Individual Fund Statements
- G:neral Fund Statement of Revenues - Budget and Actual 18 Statement of Expenditures - Budget and Actual 19-20_ ~
Proprietary Funds Combining Balance Sheet 21-22 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings 23
^ - Combining Statement of Changes in Financial Position 24 r^
I I I
i F PURVIS, GRAY AND COMPANY esseensa. o, CCHYlFicD PUDL.lC ACCOUNTANTS ,,,,,,, ,, I
^*d aeaa ** m= o* ea=^ > = = = o-I
,o.1 or, ca s.ox ... ama ~om ura.ri.,eraccr ;
rEL,Es* HONE 37. ad st ARE A CODE 904
. GAINESVILLE. FLORIDA 32602 I
I AUDITORS' REPORT l Hcnorable City Commission City of Alachua I 1Alechua, Florida ! W2 hzve examined the combined financial statements of the City of Alachua, Florida, as of cnd for the year ended September 30, 1981, as listed in the table of contents. Except as j cxplained in the following paragraph, our examination was made in accordance with , gtnsrally accepted auditinh standards and, accordingly, included such tests of the ! cecounting records and such other auditing procedures as we considered necessary in the ! circumstances.
.During the year ended September 30, 1981, the City contracted with an outside party for a l
( l complete September inventory 30, 1981. and Whilecost value ofrecords the financial its electric of the distribution plant City have been adjusted in service as of to reflect , the cost determined by the inventory, we were unable to examine sufficient evidential j catter to support the cost of electric plant in service as of September 30, 1981. This j matter is discussed in greater dr tail in Note 2 to the accompanying financial statements. Algo during the year, the City completed physical inventories of its materials and supplies in the electric and water funds and adjusted its financial records to agree with the Iphysicalinventories. While such inventories had not been properly accounted for up to February 1, 1981, the entire adjustment after giving effect to the electric distribution I plant duringadjustment described fiscal year ended September in30, Note1981, 2 as to an theincrease accompanying and decreasefinancial in maintenance statements, of was gtneral plant expense in the electric and water funds, respectively. The quantitative effects of this adjustment are as follows: electric fund general and administrative cxpenses and net loss increased by approximately $110,000; water fund general and cdministrative expenses and net loss decreased by approximately $15,000; proprietary fund types general and administrative expenses and net loss increased by the net effect of approximately $95,000. In our opinion, except for the effects of the materials and supplies inventory adjustment for the effects of such adjustments, Iesdescribedintheprecedingparagraphandexcept if any, as might have been determined to be necessary had we been able to examine adequate documentation to support the cost of electric plant in service as described in the second preceding paragraph, the combined financial statements referred to above present fairly th2 financial position of the City of Alachua, Florida, at September 30, 1981, and the results of operations and the changes in financial position of its proprietary fund types for the year then ended, in conformity with generally accepted accounting principles . cpplied on a basis consistent with that of the p, receding year. / E , ,
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l E Honorable City of Alachua City Commission j Alachua, Florida AUDITORS' REPORT (Concluded) E Our examination was cede for the purpose of forming an opinion on the combined financial otatements taken as a whole. The combining and individual fund statements and columns on tha accompanying combined financial statements captioned " Total (Memorandum Only)" are E presented for purposes of additional analysis and are not a required part of the combined fin:ncial statements of the City of Alachua, Florida. The information has been subjected to the auditing procedures applied in the examination of the combined financial statements Eend,except for the effects of the matters discussed in the following three paragraph *s, is fairly stated in all material respects in relation to the combined financial statements taken as a whole. l EI ' AS TO 1981 AND 1980 ACCOMPANYING INFORMATION l l EAsdiscussedinthesecondparagraphofourreport,wewereunabletoexaminesufficient evidential matter to support the cost of electric utility plant in service as of September 30, 1981.or as of September 30, 1980. Alco, as discussed in detail in the third paragraph of our report, the results of operations and changes in financial position for the year ended September 30, 1981,3 include the effect of adjusting materials and supplies inventory to physical amounts E although
. to and during suci. invencories had the fiscal year not been ended September properly 30, accounted 1981. for during periods previous AS TC 1980 ACCOMPANYING INFORMATION For the reasons described in the preceding paragraph and the third paragraph of this report, we were unable to ersmine sufficient evidential matter to support the amount of materials and supplies inventories of $145,329 as of September 30, 1980. ,
E Jsnuary 22, 1982 , 4 4#/M y% 5 E E E . E M
r i n e l L_ CITY OF ALACllUA, FLORIDA
. COMBINED FINANCIAL STATEMENTS These basic statements provide a summary overview of the financial position of all funds
- and account groups and of the operatir., results of all funds. They also serve as an introduction to and summary of the more detailed statements included in the accompanying information.
l l l s I I l l 1 I , I I l I i l - _F
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. I COMBINED BALANCE SilEET t
ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 1981 ; CITY OF ALACllUA. FLORIDA - c l[ ASSETS l I Cash
- Investments, At Amortized Cost .
g Receivables (Net of Allowances For Uncollectibles l Parenthetically Indicated)- Taxes Accounts ($37,126) Sewer Assessments l( .- Accrued Interest and Penalties l Due From Other Funds Dun From Other Governments f E Advance to Sewer Fund - I Inventory of Fuel and Supplies , 4 Prepaid Expenses Restricted Assets:
)
Cash, Investments and Accrued Interest 8 Property, Plant and Equipment - Cost Less Accumulated Depreciation For Proprietary Fund Types; Cost For . General Fixed Asset Account Group , I Unamortized Bond Issue Costs and Deferred Debits g Amount To Be Provided For Retirement of General y Long-Term Debt l, I TOTAL ASSETS I I 1 I I I l The acceepanying " Notes to Financial Statements" form an integral part of this statement. This statement is subject to commentis in the accompanying " Auditors' Report" containing a qualified opinion. ( .
g 1 i L - r L - COVERNMENTAL PROPRIETARY ACCOUNT GROUPS TOTALS FUND TYPE FUND TYPES GENERAL GENERAL (MEMORANDUM ONLY) CENERAL ENTERPRISE flXED ASSETS LONG-TERM DEBT 1981 1980 ( [ .
$ 47,697 $ 15,058 $ 62.755 $ 46,141 P
- 32,376 54,974 87,350 195,556 l t [ 8,994 307 212,911 8,994 8,553 213,218 235,180 q 249,969 249,969 302,062 ~ I
, 113 29,268 29,381 39,648 3.319 175,413 178,732 .227,429 {;
10,925 10,925 -17,505 : 154,000 154,000 0 [ 333 101,668 102,001 145,861
?
16,601 16,601 12,225 !) 841,703 {d 841,703 668,642 H
- u
~
. 4,825,037 $1,074,492 5,899,529 5,687,924 l 66,498 66,498 73,733
$76,079 76,079
[
$258.064 $6.589.100 $1.074.492 176.079 $7.997.735 $7.660.459 i
( l 4 I i (Continued) . Tha cccompanying " Notes to Financial Statements" form an integral part of this statement. This otatement is subject to comments in the acccmpanying " Auditors' Report" containing a qu;11fied opinion. , o 'h__
r t COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 1981 CITY OF ALACHUA, FLORIDA (Concluded) i LIABILITIES AND FUND EQUITY , LIABILITIES Accounts and Retainages Payable Other Accrued Expenses , Customer Deposits Payable From Restricted Assets: Accounts Payable Accrued Interest I 4 Current Portion of Bonds Payable Dua to Other Funds D2ferred Revenues and Credits Advance From General Fund Tax Anticipation Notes Payable In:tallment Notes Payable B nd Anticipation Notes Payable R; venue Bonds Payable TOTAL LIABILITIES e FUND EQUITY Contributed Capital Investment in General Fixed Assets Retained Earnings:
. Reserved For Revenue Bond Retirement Unreserved l Fund Balance:
Reserved For Inventory Peserved For Advance to Sewer Fund Unreserved
} TOTAL FUND EQUITY i
TOTAL LIABILITIES AND FUND EQUITY l ( i b The accompanying " Notes to Financial Statements" form an integral part of this statement. This statement is subject to comments in the accompanying " Auditors' Report" containing a 1 I l qualified opinion. l t____-_---__-__-______ __-
r~-- -
. t GOVERNMENTAL PROPRIETARY ACCOUNT GROUPS TOTALS FUND TYPE FUND TYPES GENERAL GENERAL (MEMORANDUM ONLY)
GENERAL ENTERPRISE FIXED ASSETS LONC-TERM DEBT 1981 1980
$ 19,697 $ 322.100 $ 341,797 $ 456,247 7,571 13,386 20,957 11,442 88,673 88,673 78,385 l
29,860 29,860 0 131,211 131,211 39,347 7,800 7,800 0 18,738 159,994 178,732 227,429 3 1,551 77,200 78,751 2,283 q 154,000 154,000 0 1 154,000 154,000 0
$J5,079 76,079 0 500,000 500,000 500,000 j 3,747,489 '
3,747,489 3,752,649 4
. 201,557 5,231,713 $ 0 76,079 5,509,349 5,067,782 l.
I 1,339,764 1,339,764 1,324,323 h 1,074,492 1,074,492 955,430 736,383 736,383 215,281 L (718,760) (718,760) 65,015 [ i 333 333 332 ! 154,000 154,000 0 I (97,826) ( 97,826) 32,296 56,507 1,357,387 1,074,492 0 2,488,386 2,592,677 l 1 fjl'i8.064 .$_6 2 589.10Q 11_,DJ4.492 _$76.079 $7.997.731 $7.660.459 h l l i I Th2 cccompanying " Notes to Financial Statements" form an integral part of this statement. This statement is subject to comments in the accompanying " Auditors' Report" containing a qualified opinion. "
STATEMENT OF REVENUES, EXPENDITURES AND CilANCES IN FUND BALANCE -
- BUDGET AND ACTUAL GOVERNMENTAL (GENERAL) FUND TYPE FOR Tile YEAR ENDED SEPTEMBER 30, 1981 CITY OF ALACHUA, FLORIDA 1981 1980 VARIANCE TOTAL i FAVORABLE (MEMORANDUM ONLY)
BUDGET ACTUAL (UNFAVORABLE) ACTUAL 4 REVENUES Texes $ 277,282 $ 288,235 $ 10,953 $ 213,025 , Licenses and Permits 23,622 11,863 ( 11,759) 13,355 : Intergovernmental 341,719 438,407 96,688 395,312-Charges For Services 44,000 59,269 15,269 1,224 , Fines and Forfeitures 12,500 17,302 4,802 12,563 ; Hiscellaneous 111,586 5,419 (106,167) 5,245 TOTAL REVENUES 810,709 820,495 9,786 640,724 EXPENDITURES Ctneral Government Public Safety 97,147 394,539 98,801 362,597 ( 1,654) 31,942 77,689 218,033 l liighways and Streets 42,699 28,035- 14,664 35,105 Ssnitation 106,475 103,546 -2,929 111,657 g H2alth 0 0 0 3,105 . Culture and Recreation 56,550 19,590 36,960 14,579 Urban Redevelopment and g Housing 200,000 247,602 ( 47,602) 199,346 m Non-Departmental Items 15,846 12,462 3,384 13,736 Dzbt Service 0 278 ( 278) 0 (TOTAL EXPENDITURES) (913,256) (8 2,911) 40,345 (673,250) l EXCESS (DEFICLENCY) 0F REVENUES . OVER EXPENDITURES (102,547) ( 52,416) 50,131 ( 32,526) OTHER FINANCING SOURCES { Operating Transfers In 37,645 0 ( 37,645) 0 i Proceeds From Chattel 3 Mortgage 75,000 75,000 0 0 Proceeds From Installment Loan 0 1,295 1,295 0 112,645 TOTAL OTilER FINANCING SOUt(CES 76,295 ( 36,350) 0 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES i OVER EXPENDITURES 10,098 23,879 13,781 ( 32,526) FUND BALANCE, BEGINNING OF YEAR 32,628 32,628 0 65,154 FUND BALANCE, END OF YEAR $ 42.726 $ 56.507 $ 13.781 Q2_,_64 1 The accompanying " Notes to Financial Statements form an integral part of this statement.
~
This statement is subject to comments.in the accompanying " Auditors' Report" containing a l{ L qualified opinion. -
[ . COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS i I ALL PROPRIETARY FUND TYPES FOR Tile YEAR ENDED SEPTEMBER 30, 1981 ! ( CITY OF ALACl!UA, FLORIDA { PROPRIETARY TOTAL FUND TYPES (MEMORANDUM ONLY) ENTERPRISE 1980 ' OPERATING REVENUES $ 1,865,537 $ 1,613,185 , i OPERATING EXPENSES , P;w;r Production Expense 1,285,472 1,153,332 i ( Customer Accounts 47,412 52,009 I D2preciation 151,193 124,991 - Dictribution Expenses 95,378 139,993 r , [ C;naral and Administrative 281,978 104,827 , Tcx2s 4,264 3,815 Trcnsmission Expense 24,825 22,555 i Trcctment 15,302 13,346 ] (TOTAL OPERATING EXPENSES) (1,905,824) , (1,614,868) i OPERATING (LOSS) ( 40,287) ( 1,683) NONOPERATING REVENUES (EXPENSES) 3 Intsrest Income 71,218 85,294 l
, Interest on Long-Term Debt ( 287,139) 6,981)
( 269,689) 7,256)
)
Amortization of Bond Issue Costs ( (
- Miccellaneous (Expense) Income 516 ( 1,241)
( 222,386) ( 192,892) {TOTALNONOPERATINGREVENUES(EXPENSES) NET (LOSS) ( 262,673). ( 194,575) RETAINED EARNINGS, BEGINNING OF YEAR: As Previously Reported 829,245 1,039,866
- Adjustments ( 548,949) ( 564,995)
A3 Restated 280,296 474,871 RETAINED EARNINGS, END OF YEAR S 17.623 $ 280.296 d ( ( ( : d i Th2 cccompanying " Notes to Financial Statements", form an integral part of this statement. " (Thicstatementissubjecttocommentsintheaccompanying" qun11fied opinion. Auditors' Report"containinga ' { .
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION _ ALL PROPRIETARY FUND TYPES FOR Tile YEAR ENDED SEPTEMBER 30, 1981_ CITY OF ALACllUA, FLORIDA _ PROPRIETARY " FUND TYPES ENTERPRISE
$ 262,673
_U_SE OF WORKING CAPITAL _ Net Loss Items Not Requiring Outlay of ( 151,193) Working Capital: 9,895) ( Depreciation 101,585 Amortization 243,735 Working Capital Applied To Operations 173,061 Property, Plant and Equipment Additions Increase in Restricted Assets 507,800 Decrease in Long-Term Liabilities - Reclassified As Current (1,026,202_) ' Increase in Miscellaneous Deferred Debits (TOTAL USE OF WORKING CAPITAL)
~
154,000 l SOURCE OF WORKING CAPITAL Advance From General Fund 129,524 l Increase in Current Liabilities 15,441
' Payable From Restricted Assets Contributions 63,038_
Reclassification of Sewer Assessments As 362,003_ Current _ J TOTAL SOURCE OF WORKING CAPITAL ( 664.199) (DECREASE) IN WORKING CAPITAL (BELCW) CilANGES IN WORKING CAPITAL BY COMPONENT _ - 891) Current Assets - Increase (Decrease): ( ( 115,252) Cash 21,484)
, (
i Investments ( 49,269) Receivables 43,861) Due From Other Funds ( Inventory Prepaid Expenses 100,292 Current Liabilities - Decrease (Increase): ( 6,447) Accounts Payable 10,288) Other Accrued Expenses ( 55,825 Customer Deposits Due to Other Funds Deferred Credits ( 500,000_) Electric Revenue and Improvement Bond Anticipation Notes $( 66 @ (DECREASE) IN WORKING CAPITAL (ABOVE) i t ment. The accompanying " Notes to Financial Statenents" form an integral part of this sta " containing a i This statement is subject to comments in the accompanying " Auditors' Report qualified opinion. ,
NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1981 l CITY OF ALACilUA, FLORIDA l 5 NOTE 1 -
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES Fund Accounting The City's accounting records are organized and operated on a fund basis. A fund is defined as a fiscal and accounting entity, with a self-balancing set of accounts recording all financial resources with all related liabilities, reserves and residual equities, or balan'ces or changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain objectives. Amounts receivable from or payable to other funds are shown in the accounts of an individual fund and separately presented in the accompanying financial statements j until liquidated by payment or an interfund transfer. The following fund types and account groups are used in accounting for the 5 financial operations of the City: Covernmental (General) Fund Type E (1) General Fund - to account for all financial resources not properly accounted for in another fund; Proprietary Fund Types E' (2) Enterprise Funds - to account for operations that are financed and
, operated in a manner similar to private business enterprises - where the intent of the governing body is that costs of providing goods or E-- services to the general public on a continuing basis be financed or recovered primarily through user charges; Account Groups (3) The Account Groups are used to establish accounting control and l accountability for the government's general fixed assets and general !
long-term debt. These account groups are not considered funds since E they do not reflect available financial resources and related liabilities. Bases of Accounting The Governmental (General) Fund Type is maintained on the modified accrual basis of accounting. Under this method of accounting, revenues are generally recognized when they become measurable and available. Revenues which are E susceptible to accrual, i.e. , being recorhd when carned, include property taxes, refuse collection charges and lot clearing und certain other fees. Other revenues are not susceptible to accrual since they do not meet the two criteria E previously mentioned. Expenditures are generally recorded on an accrual basis, i.e., when incurred, except as follows: (1) Accumulated vacation and sick pay are not accrued; (2) Expenditures are not divided between years by the recording of prepaid expenses. E The Proprietary Fund Types are maintained on the accrual basis of accounting. This method of accounting relates costs and expenditures to the period in which E (Continued)
. E
NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1981 l CITY OF ALACHUA FLORIDA (Continued) NOTE 1 -
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Bases of Accounting (Concluded) g benefits of the outlays are received. It is intended to provide an accurate gl matching of these benefits with associated revenues. Under the accrual basis of f accounting, revenues are recognized when earned and measurable and expenses recognized when incurred.
. 1 Investments Investments are stated at amo'rtized cost.
- Inventory Inventory is valued at cost as determined by the average unit cost method.
Inventory in the General Fund consists of gasoline. Inventory in the Cencral ' Fund is charged to expenditures when purchased. Reported inventories in the Cencral Fund are equally offset by a reservation of fund balance which indicates l that they do not constitute available spendable resources. Inventory in the ! Proprietary Fund Types consists of supplies held for consumption or capital improvements. Property, Plant and Equipment and Depreciation j , Property, plant and equipment in the Proprietary Fund Types are recorded at historical cost or at fair market value on the date donated (see Note 2 regarding certain adjustments). Ordinary maintenance and repairs are charged to expense as incurred. ' { Provision has been made for the depreciation of such property, plant and equipment using the straight-line method. The straight-line rate is computed i using the period of years considered as the normal service life of the property. , Such rates are as follows: Electric Plant 3% to 20% Water Plant 3% to 20% [ Sewer Plant 2.5% to 10% : I Construction work in progress is not depreciated until completed and placed into I service. j All other property and equipment owned by the City is reflected at cost in the , General Fixed Asset Group of Accounts and shown as an expenditure in the fund l purchasing the property or equipment. Certain improvements such as streets and ' sidewalks are capitalized along with other general fixed assets. No provision for depreciation is made for general fixed assets. l t l Bond Discount and Issue Costs Amortization The bond discount and issue costs on Utility Revenue Bonds are being amortized { f over the life of the bonds using the straight-line method which does not [ materially differ from the interest method. l . (Continued) _ _ _ . - d
I ! I - NOTES TO FINANCIAL STATDtENTS l SEPTEMBER 30, 1981 l CITY OF ALACllUA FLORIDA (Continued) NOTE 1 -
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Concluded) I , Long-Term Liabilities Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by noncurrent liabilities. Since they do not affect net current assets, such long-term amounts i I are not recognized as governmental fund type liabilities. They are instead reported as liabilities in the General Long-Term Debt Account Group. Noncurrent portions of long-term receivables and advances due to governmental funds are reported on their balance sheets in spite of their spending measurement focus. However, special reporting treatments are used to indicate that such amounts should not be considered available, spendable resources since they do not I represent net current assets. Noncurrent portions of such receivables and advances are therefore of fset by fund balance reserve accounts. Reclassifications Certain anounts for prior years accompanying information have been reclassified l to conform with current years' classifications in order to provide more ! meaningful comparative data. NOTE 2 - ACCOUNTING ADJUSTMENTS
?
During the fiscal year ended September 30, 1981, the City contracted with an outside party for a complete inventory and cost determination of its electric distribution plant in service as of September 30, 1981. According to the party contracted to conduct the inventory, the following procedures and assumptions were used in the process:
- 1. The electric facilities were field surveyed and aged by use of pole birthmarks. A 1981 cost figure was given to each item. The following items were added to this figure:
- n. Labor - cost of $6.85 per manhour,
- b. Labor fringe benefits of 19%, l I c. Equipment costs which were figured on bucket, line, boom and pick-up .
trucks of $25,00 per hour,
- d. Warehouse charge of 6% that was derived by taking the warehouse ,
employee's salary and dividing it by the total amount of materials E used in 1981 and an added 1% for purchasing of materials, and
- e. Administration and general at 15% was derived by taking 25% of the salaries of the City Manager and Assistant City Manager and 50% of the E Utility Directors salary and dividing it by the total construction
- labor costs for 1981.
(NOTE: The above percentages were obtained from city personnel.)
- 2. The aging of the system was derived by use of the Handy Whitman Index. The multiplier for the appropriate year is based on a ratio of Index numbers.
(Continued) b _ _ _ _ _ _ _ _ _ _ _ _
I I
. 1 NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1981 CITY OF ALACHUA, FLORIDA (Continued) l NOTE 2 - ACCOUNTING ADJUSTMENTS (Concluded) , !
Using the above inventory of electric plant, the balance of retained earnings of the electric fund as of September 30, 1980, has been restated to reflect the following: Decrease in Book Value (Cost) of Electric Plant Resulting From Inventory of Electric Distribution f
$(766,060) ;
Plant - Decrease in Accumulated Depreciation Resulting From 217,11_1_ Above Decrease Net Decrease in Electric Fund Retained Earnings At 1$ 548,.941) October 1, 1980 However, it should be noted that all of the above adjustnent does not resuic f rom the City's failure to properly maintain its inventory and work order systems. When the City engaged an engineer for an electric' plant distribution inventory as of September 30, 1977, the plant was valued using costs as of September 30,.1977, rather than historical costs as required by generally accepted accounting principles. The current plant inventory does uce historica,1 cost as ~ determin'ed using the Handy Whitman Index - such historical cost would be considerably less ~ than cost at September 30, 1977. EOTE 3 - DETAIL OF PROPERTY, PLANT AND EQUIPMFNT Ceneral Fixed Assets Account Group A summary of changes in general fixed assets for the year fo'llows: BALANCE KEr BALANCE OCTOBER 1, 1980 INCREASE SEPTEMBER 30, 1981 City Park - Structures and 7,459 14,821
$ 7,362 ~$ 0 Improvements 3,068 Jail and Equipment 3,068 0 138,852 0 138,852 City Hall - Equipment 2,557 26,485 City Hall - Building 23,928 70,306 0 .70,306 Fire Station 14,939~
14,939 0 New Parking tot - Land , 274,959 Street Paving and Sidewalks 274,959 0 82,215 94,347 176,562 Fire Trucks and Other Equipment 2,425 Mosquito Spraying Equipment 2,425 .0 i I 224,698 0 224,698; - Land 50,325 Sanitation Equipment 50,325 0 Police Department - Cars and 40,564 14,700 ,,55,264' i Equimpent 18,192 Streets and Roads Equipment 18,192 0 3,597 0 3,597 ,.
, Hiscellaneous - ' -
TOTAL PROPERTY, PLANT AND jiSL51d30 $119.061 AL,07 4.493, . j EQUIPMENT - At Cost
~"
I (Continued) ,
- - - - - - _ _ _ - - _ _ _ _ - a
NOTES TO FINANCIAL STATEMENTS l SEPTEMBER 30, 1981 CITY OF ALACHUA, FLORIDA (Continued)
' NOTE 3 - DETAIL OF PROPERTY, PLANT AND EQUIPMENT (Concluded)
Proprietary Fund Types A summary of property, plant and equipment in the Proprietary Fund Types at September 30, 1981, follows:
" Electric Plant $1,368,796 Uater Plant
~
1,662,440 Sewer Plant 2,642,159
" 5,673,395 (Accumulated Depreciation) (848,358)
_ UTILITY PLANT - Cost Less Accumulated Depreciation $4.823_d37 Included in electric plant is a .0779% undivided interest in the Florida Power Corporation Crystal River Unit Number 3 ("CR-3"). "CR-3" is a nuclear generating plant which began generating and transmitting electricity daring April, 1977. I The City's share of nuclear fuel on hand at "CR-3" and included in plant was
$62,381 as of September 30, 1981.
NOTE 4 - EMPLOYEES' RETIREMENT SYSTEM i
. The City of Alachua, participates in the Florida Retirement System, a pension plan
- covering all employees. Employee contributions were made prior to October 1 1-- 1975, and these contributions are refundable if employment terminates prior to retirement. Pension benefits generally vest after 10 years of service but cannot be drawn until normal retirement at age 62, or 58 if 35 years of service have I been rendered. Total pension expense was $46,056 for the year ended September 30, 1931. Contributions are made by the City of Alachun to the Florida Retirement System baned on 13.5% of Police Department earnings and 9.1% of all I other employees' earnings. The City's policy is to fund pension costs accrued.
The amount of unfunded vested benefits, if any, has not been actuarially calculated. NOTE 5 - INTERFUND RECEIVABLES,AND PAYABLES The balances of interfund receivables and payables at September 30, 1981, were as I follows:' INTERFUND I Ceneral Fund, Proprietary Fund Types: s RECEIVABLE
$ 3,319 PAYABLE
$ 18,738 I Electric Fund Water Fund Sewer Fund 37,397 117,424 20,592 117,424 21,165 "
21,405 l l Total Proprietary Fund Types 175,413 159,994 i I ~ TOTAL a
$178. Q2 $178.732 49 (Continued)
IA ~ *
- _ _ _ _ _ _ _ _ _ _ _ - _ )
NOTES TO FINANCIAL STATEMENTS SEPTEMBET 30, 1981 CITY OF ALACHUA, FLORIDA (Continued) 7 . j NOTE 6 _LO_Nfd ERM AND OTHER DEBT Ceneral.Long-Term Debt
.The following is a summary of the changes in ger.eral long-term debt of the City
'during th'e fiscal year' ended September 30, 1981:
GENERAL LONG-TERM DEBT Balan,ce, October 1, 1980 $ 0 Installment Notes - Proceeds - Purchase of Fire Truck 75,000 - Purchase of Radar Equipment 1,295 Principal Paid During Year Equipment Note Payable Balance, September 30, 1981 $76.079 (216) hl 55
~
The chattel mortgage secured by the fire truck is payable in annual installments of $19,838, which includes interest of 10.75%. The first payment is due February 20, 1982. The other chattel mortgage is payable in monthly installments of $46 which includes interest of 17%. All general fund revenues other than ad . valorem taxes or utility taxes are pledged for payment of these debts.
. The following tabulation indicates the annual amounts of principal and interest required to satisfy the above general long-term debt.
FISCAL YEAR ENDED PRINCIPAL AND INTEREST SEPTEMBER 30, REQUIRED 1982 $ 20,392 1983 20,392 1984 20,115 1985 19,838 1986 19,838 1987 2,250 . TOTAL $102.825 ) L Proprietary Fund Types - Utilities Refunding and Revenue Bonds of 1978 On April 15, 1978, the City adopted a resolution to issue the Utilities Refunding { and Revenue Bonds of 1978. These bonds were issued to finance the cost of ' refunding the City'd Utilities Revenue Bonds dated April 1, 1976, and the Utilities Revenue Bonds, Series A and B, dated April 1, 1974. i.l Net revenues, utilities service taxes and special assessment proceeIs are pledged - as collateral for the revenue bonds which have a coupon rate ranging from 5.8f' to 6.40%. The bond ordinances required the establishment of a sinking fund to i meet debt service requirements, a reserve account to' pay only interest and [gE principal if sinking fund monies are insufficient, a renewal and replacement fund and an ep'eration and maintenance fund to pay operating expenses. Operating i revenuco from the utility facilities must be disbursed in the following order: [ A. To meet operating and maintenance expenses befor,e depreciation. B. To satisfy current debt service requirements. (Continued) I
, l t
. . I
E . NOTES TO FINANCIAL , 7."EMENTS SEPTEMBER 30, 19th CITY OF ALACllUA, FLOR.(%, (Continued) Q NOTE 6 - LONG-TERM AND OTHER DEBT (Continued) Proprietary Fund Types - Utilities Refunding and Revenue Bonds of 1978 (Concluded) C. To fund a reserve account to the maximum amount of $212,036. D. To fund a renewal and replacement fund in the amount of 1/12 e 5% of the gross revenues of the facilities for the previous year until tee balance of the fund equals 25% of the gross revenues of the facilities for the previous year. The $2,990,000 issue of 1978 consist of $975,000 of Term Bonds and $2,015,000 of Serial Bonds which mature as indicated in the following schedule: FISCAL YEAR ENDED SEPTEMBER 30, PRINCIPAL AMOUNT .- 1991 $ 80,000 85,000 1992 1993 90,000
. 1994 95,000 1995 105,000
[ 1996 110,000 1997 115,000 j; 'I 1998 130,000 1999 135,000 2000 145,000 2001 150,000 2002 160,000 2003 160,000 2004 170,000 2005 175,000 2006 110,000 2007 E Subtotal - Par Value 2,990,000 975,000 Unamortized Discount at September 30, 1981 (65,511) TOTAL $2.924.489 Allocated Between Proprietary Funds Electric Fund $ 357,008 Sewer Fund 2,567,481 j TOTAL 2 _$ .924.489 l Proprietary Fund Types - Utilities Revenue Bonds of 1979 On August 6, 1979, the City adopted a resolution to issue the Utilities Revenue Bonds of 1979. These bonds were issued on December 17, 1979, to partially E finance the cost of construction of additions to the utility system. , Net util'ity revenues, utilities service taxes and certain special as'sessments are pledged as collateral for the revenue bonds which have a coupon rate of 5%. The liens on revenues by the 1979 bonds is junior to the Utilities. Refunding and (Continued)
NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1981
~~~ CITY OF ALACilUA, FLORIDA (Continued)
NOTE 6 - LONC-TERM AND OTilER DERT (Continued) Proprietary Fund Types - Utilities Revenue Bonds of 1979 (Concluded) Revenue Bonds of 1978. Amounts deposited in the revenue fund created by the bond resolution must be disbursed in the following order: A. To meet operation expenses. B. To satisfy debt service requirements. C. To fund a reserve account to be used for repairs, improvements and to - satisfy debt service. The issue consists of $830,800 of Serial Bonds - $7,800 of which is due during the fiscal year ended September 30, 1982, and the long-term remainder which h 4 matures as indicated in the following schedule: FISCAL YEAR ENDED SEPTEMBER 30, PRINCIPAL AMOUNT 1983
$ 8,000 8,000 -
1984 1985 9,000 i 9,000 f- ' 1986 10,000 1987 1988-1992 57,000 1993-1997 73,000 1998-2002 93,000 F 2003-2007 119,000 2008-2012 151,000-2013-2017 193,000 2018-2019 93,000 - TOTAL $823.000 Summary of Principal and Interest Payments Required For Next Five Years PRINCIPAL AND INTEREST PAYMENTS REQUIRED DURING FISCAL YEAR ENDED SEPTEMBER 30, 1982 1983 1984 1985 1986 General Long-Term Debt $ 20,392 $ 20,392 '$ 20,115 $ 19,838 $ 19,838 Utilities Refunding and 188,383 188,383 188,383 188,383 188,383 f Revenue Bonds of 1978 Utilities Revenue Bonds of 1979 49,145 48,950 48,550 49,125 48,675 Bond Anticipation Notes " of 1979 532,500 Tax Anticipation Notes 163,122 19_13 4 2 }_257.725 }257.048 $257.346 $256.896 Bond Anticipation Notes On September 5, 1979, the City adopted a resolution to issue $500,000 revenue and improvement bond anticipation notes. The purpose of these notes was to provide innediate funds for the commencement of the project of acquisition and construction of additions, extensions and improvements to the combined electric, (Continued) i -
E . . NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1981 CITY OF ALACllUA, FLORIDA (Continued) NOTE 6 - LONG-TERM AND OTilER DEBT (Concluded) Bond Anticipation Notes (Concluded) water and sewer system of the City as prescribed in the bond resolution adopted by the City on July 2, 1979. The payment of the principal of and interest on the notes shall be secured, equally and ratably, by a prior lien upon and a pledge of the proceeds derived from the sale of the bonds and, if necessary, by a prior lien upon and pledge of
- the proceeds of the Revenue Sharing Funds.
Notes were issued on September 29, 1979, in the principal amount of $500,000 to mature on April 1, 19E2, with a 6.5% per annum rate of interest. These were reclassified as' a current liability for the year ended September 30, 1981. Tax Anticipation Notes On September 28, 1981, the City adopted a resolution to issue $154,000 of tax anticipation notes. The purpose of these notes was to provide funds to be transferred to the sewer fund to meet October 1, 1981, debt service and reinstate the debt service reserve account of the refunding and revenue issue of 1978. The payment of principal and interest is secured by the ad valorem taxing power of the City for the fiscal year 1981-1982 at an annual rate not to exceed ten (10) mills on the dollar of assessed value. Notes were issued on September 28, 1981, in the principal amount of $154,000 to mature on April 1, 1982, with an 11.15% per annum rate of interest. NOTE 7 - CONTINGENT LIABILITIES The City participutes in a number of federally assisted grant programs, principal of which are the Federal Revenue Sharing and Community Development Block Grant programs. These programs are subject to compliance audits by the grantors or their representatives. The audits of these programs whose year ended during or coincided with the City's fiscal year end of September 30, 1981, have either not been completed or accepted by the grantor. Accordingly, the final determination of the City's compliance with applicable grant requirements will be established at a future date. The amount of expenditures which may be disallowed by the granting agencies cannot be detensined although the City expects such amounts, if any, to be immaterial. As a member of the Florida Municipal Power Agency (FMPA), the City has signed certain documents with FMPA which provide that if FMPA defaults on certain loans, the City would be required to satisfy its share of the payment. The approximate amount of this contingency at September 30, 1981, is $30,500. (Continued) l . - .
l l l l NOTES TO FINANCIAL STATEMENTS { SEPTEMBER 30, 1981 l CITY OF ALACHUA FLORIDA (Concluded) NOTE 8 - COMMITMENTS Revenue Bonds As the issuer of revenue bonds and bond anticipation notes, the City has agreed to various covenants. However, the City has not complied with all provisions contained in the bond resolutions. Various separate accounts required by the resolutions have not been established. Further, payments which are required to be made monthly to various debt service accounts were not always made on a timely basis. However, the total amounts required in such accounts were paid by September 30, 1981, except as follows: The Bond Interest and Sinking Account of the $830,800 Utilities Revenue Bonds of 1979 should total $67,990 as of September 30, 1981, and such amount is included in retained earnings reserved for debt service in the accompanying financial statements. However, the " Account" contained $40,000 as of September 30, 1981. h'OTE 9 - SUBSEQUENT EVENTS Monthly payments are required to be made to various debt service accounts created by bond and tax anticipation note resolutions which authorize such outstanding
- debt. As of January 22, 1981, none of the required monthly payments had been made subsequent to September 30, 1981, into the bond debt service accounts nor .
had the deposits required by the tax note resolution been made as required by such resolution. l l l w W [ E b W
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ACCOMPANYING INFORMATION hemme pe== m M
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l CITY OF ALACilUA, FLORIDA COMBINING AND INDIVIDUAL FUND STATEMENTS These statements provide a more detailed view of the General Purpose Financial Statements. Combining statements are presented when there are more than one fund of a given fund type. I Individual fund statements are presented when there is only one fund of a given fund type. They are also necessary to present budgetary comparisons. E E! E E 1
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STATEMENT OF REVENUES - BUDGET AND ACTUAL GENERAL FUND I FOR Ti!E YEAR ENDED SEPTEMBER 30,1981, WITil I COMPARATIVE ACTUAL AMOUNTS FOR Tile YEAR ENDED Sl;PTEMBER 30, 1980 CITY OF ALACllUA, FLORIDA 1981 1980 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) ACTUAL REVENUES Taxes Property Taxes $121,601 $120,037 $( 1,564) $ 80,211 g Franchisc Taxes 4,896 5,676 780 4,620 Utility Taxes 150,785 162,522 11,737 128,'194 g Total Taxes 277,282 288,235 10,953 213,025 Licenses and Permits Occupational Licenses 2,200 4,133 1,933 2,212 Building Permits 14,285 7,730 ( 6,555) 11,143 Other 7,137_ 0 ( 7,137) 0 11,863 _13,355 i Total Licenses and Permits 23,622 ( 11,759) Intergovernmental Federal: Community Development Block Grant 200,000 258,000 58,000 200,000 Revenue Sharing 40,000 40,105 105 37,008 3 State: Alcoholic Beverage Licenses 0 2,945 2,945 3,192
~' 9,543 3,043 llomestead Exemption Trust 6,500 6,360 Mobile Hone Licences 0 2,361 2,361 3,496 Revenue Sharing Including Fuel l'. Tax Rebate 80,676 109,410 28,734 105,714 Various Grants 4,543 4,543 0 29,542 Alachua County:
Public Safety - Fire Protection 10,000 11,500 1,500 10,000 Total Intergovernmental 341,719 438,407 96,688 395,312 Charges For Services Sanitation 44,000 59,269 15,269 , 1,224 i Fines and Forfeitures Court Fines 12,500 17,302 4,802 12,563 Miscellaneous Interest 1,586 1,799 213 1,569 Other 5,000 '3,620 ( 1,380) 3,676 " Land Sales 105,000 0 (105,000) 0
, Total Miscellaneous 111,586 5,419 (106,167) 5,245 TOTAL REVENUES 810,709 820,495 9,786 640,724 j OTilER FINANCING SOURCES lE Operating Transfers I'n 37,645 0 ( 37,645) 0'
. Proceeds From Chattel Mortgage 75,000 75,000 0 0 Proceeds From Installment Loan 0 1,295 1,295 0 112,645 76,295 ( 36,350) 0 ITOTALOTIIERFINANCINGSOURCES TOTAL REVENEUS AND OTilER FINANCING SOURCES .$123. 354 1896.790 $( 26.561) $640 4 E
N STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL-E GENERAL FUND 30, 1981, WITH FOR Tile YEAR ENDED SEPTEMBER 0 COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED SEPTEMBER 30 CITY OF ALACllUA, FLORIDA _ 1980 1981 VARIANCE FAVORABLE ACTUAL _ f ACTUAL _ (UNFAVORABLE) _ BUDGET EXPENDITURES Cencral Government _ $ 7,777 $ 10,538 , Executive: $ 29,192 $ 21,415 179) O
^ Personal Services 0 179 ( 0 23 Operations 677_ 10,538 70Q _
7,621 Capital Outlay 29,892 22,271 l Total Executive - 26,503 p 21,793 3,250 Finance and Administration _: 25,043 ( 1,274) 13,889 Personal Services 24,590 25,864 119 < 3,000 150 Operations 3,150_ 2,126_ _ 40,511 Capital Outlay 52,783_ 50,657_ Total Finance and Administration ( 3,257_) 8,914 Legal: 9,200 12,457 Operations 773 12,208_
- Community Development _: 5,272 4,499_ f l ~ Operations ( 8,917_) 5,518_ l 0ther General Government _: 0_
8,917 77,689 l 98,801 ( 1,654_) _ Operations 97,147__
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Total General Government Public Safety. 132,905 181,796 175,154 6,642 Law Enforcement _: 40,119 46,526 9,824 Personal Services 56,350 23,162 14,699 4,251 Operations 18,950 20,717_ 196,186_ Capital Outlay 257,096 236,379_ Total Law Enforcement 1,598 17,330 Fire Control _: 21,157 19,559 ( 5,654_ 346_ Operations 100,000 94,346 17,676 Capital Outlay 113,905 7,252 121,157 Total Fire Control 95q) O_ Protective Inspections: 3,050_ 4,000 _ ( _ Operations 4,076 0 Rescue: 6,554 2,478 4,171_ 5,835 847 Personal Services 6,682. 4,923_ 4,171 Operations 13,236 8,313_ 218,033 362,597 31,942_ Total Rescue 394,539_ Total Public Safety 12,908 17,088 340 liighways and Streets 19,428 2,581 11,954 Personal Services 11,528 8,947 10,243 11,743_ Operations 11,743 O_ _ 35,10_5 j 28,035_ 14,664 Capital Outlay 42,699 l Total liighways and Streets 66,462 j 70,718 940 Sanitation _ 71,658 32,161 32,828 1,989 Personal Services - 34,817 0 13,034, Operations 0_ O_ 111,657,j 103,546 2,929_ Capital Outlay 106,475_ _ (Continued) Total Sanitation l
1 STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL GENERAL FUND FOR Ti!E YEAR ENDED SEPTEMBER 30, 1981, WITil COMPARATIVE ACTUAL AMOUNTS FOR Ti!E YEAR ENDED SEPTEMBER 30, 1980 CITY OF ALACllUA, FLORIDA 1981 1980
. VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) ACTUAL EXPENDITURES (Concluded)
Hralth Operations $ 0 $ O' $ 0 $ 3,105 Culture and Recreation . Personal Services 2,350 1,832 518 1,113 Operations 9,200 10,299 ( 1,099) 7,086 Cepital Outlay 45,000 7,459 37,541 6,380 Total Culture and Recreation 56,550 19,590 36,960 14,579 : Urban Redevelopment and llousing [ Parsonal Services 0 0 0- 2,881 p Operations 15,000 800 14,200 197 Capital Outlay 185,000 246,802 (61,802)- 196,268 [ Total Urban Redevelopment and llousing 200,000 247,602 (47,602) 199,346 i
.Non-Departmental Items [
Insurance 15,846 12,462 3,384 10,318 ,
- Miecellaneous 0 0 0 3,418 ,
[TotalNon-DepartmentalItems 15,846 12,462 3,384 13,736 j
- Dsht Service -
Principal Retirement 0 216 ( 216) 0 , Interest Paid 0 62 ( 62) 0 I Total Debt Service 0 278 ( 278) 0 j
$913u2X $872.911 } 40.345
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TOTAL EXPENDITURES MZ32_1Q 2 M4
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i i I i, COMBINING BAL/NCE SilEET PROPRIETARY FUNDS SEPTEMBER 30, 1981, WITH 30, 1980_ COMPARATIVE TOTALS FOR Tile YEAR ENDED SEPTEMBER CITY OF ALACHUA, FLORIDA I ASSETS CURRENT ASSETS Cash (Overdraf t)
- Investments, At Amortized Costs Receivables (Net of Allowance For Uncollectibics As Parenthetically Indicated):
Accounts ($37,126) Sewer Assessments, Current Portion Accrued Interest and Penalties l Due From Other Funds Inventory, At Cost Prepaid Expenses l
. TOTAL CURRENT ASSETS lRESTRICTEDASSETS 1 n Revenue Bond Construction Account Revenue Bond Debt Service Accounts l
TOTAL RESTRICTED ASSETS PROPERTY, PLANT AND EQUIPMENT Utility Plant in Service Construction in Progress (Accuteulated Depreciation) TOTAL PROPERTY, PLANT AND EQUIPMENT - Cost Less Depreciation OTIIER ASSETS
=
Sewer Assessments, Less Current Portion of
$88,559 Unamortized Bond Issue Costs Miscellaneous Deferred Debits TOTAL OTilER ASSETS ,
TOTAL ASSETS
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t1 ll TOTALS f
. ELECTRIC WATER SEWER ,
1981 1980 l i
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$ 1,884 $ 15,689 $( 2,515) $ 15,058 $ 15,949 ;
54,974 54,974 170,226 [ l c 212,911 212,911 235,073 [ 88,559 88,559 77,614 j 228 29,040 29,268 39,535 37,397 { 117,424 20,592 175,413 224,682 j 77,322 24,346
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101,668 145,529 , 16,601 16,601 12,225 i i I 401,317 157,459 135,676 694,452 920,833 t l 39,119 39,119 92,825 11,303_ 40,000 751,281 802,584 575,817 ! I' 11,303 79,119 751,281 841,703 668,642 1,368,796 1,662,440 2,642,159 5,673,395 5,290,037 0 0 0 0 139,623 1,368,796 1,662,440 2,642,159 5,673,395 5,429,660 (255,968) (249,691) (342,699) (848,358) (697,166) r . 1,112,828 1,412,749 2,299,460 4,825,037 4,732,494 l l l 161,410 161,410 224,448 < 9,518 50,510 60,028 67,284 I 6,470 0 0 6,470 6,449 l 15,988 0 211,920 227,908 298,181 J1.541.431 11.6/.9. 3 U7 $3.398.337 36mS89.100 16 m6_2_0.150 { ~
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l COMBINING BALANCE SHEET _ PROPRIETARY FUNDS SEPTEMBER 30, 1981, WITH 1980_ COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, CITY OF ALACllUA, FLORIDA (Concluded) LIABILITIES AND FUND EQUITY CURRENT LIABILITIES, PAYABLE FROM CURRENT ASSETS _ . Accounts Payable j Other Accrued Expenses . f l Customer Deposits Due to Other Funds i Deferred Credits Electric Revenue and Improvement Bond Anticipation Notes TOTAL CURRENT LIABILITIES, PAYABLE FROM CURRENT ASSETS CURRENT LIABILITIES, PAYABLE FROM RESTRICTED ASSETS _ Accounts Payable Accrued Interest Current Portion of Long-Term Liabilities
- TOTAL CURRENT LIABILITIES, PAYABLE FROM RESTRICTED
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ASSETS LONG-TERM LIABILITIES _ Advance From General Fund Electric Revenue and Improvement Bond Anticipation Notes Utilities Revenue Bonds of 1979, Less Current Portion of $7,800 Utility Refunding and Revenue Serial Bonds of 1978 , Utility Refunding and Revenue Term Bonds of 1978 TOTAL LONG-TERM LIABILITIES i TOTAL LIABILITIES FUND EQUITY Contributions: Customers EDA and IIUD Farmers Home Administration Retained Earnings: Reserved For Debt Service Unreserved Total Retained Larnings ; TOTAL FUND EQUITY . TOTAL LIABILITIES AND FUND EQUITY _ - - - _ - - - - - - - - - - - - J
_ l l F ..
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L ! I. TOTALS t _ ELECTRIC WATER SEWER 1981 1980 l 1 I
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$ 309,989 $ 6,786 $ 5,325 $ 322,100 $ 422,392 i 11.438 970 978 13,386 6,939 88,673 88,673 78,385 {
' l 117,424 21,165 21,405 159,994 215,819 l 77,200 77,200 0 i 500,000 k 500,000 0 j
- 1,104,724 28,921 27,708 1,161,353 723,535 ;
~
29,860 29,860 0 i. 27,553 20,770 82,888 131,211 39,347 ,
. 7,800 7,800
? 27,553 58,430 82,888 168,871 39,347 l
154,000 154,000 500,000 823,000 823,000 830,800 'q 240,592 1,730,259 . 1,970,851 1,969,072 116,416 837,222 953,638 952,777 357,008 823,000 2,721,481 3,901,489 4,252,649 1,489,285 910,351 _2,832,077 5,231,7Q 5,015,531 5,465 86'0,716 866,181 856,877 23,859 22,424 46,283 40,146 246,900 180,400 - 427,300 427,300 67,990 668,393 736,383 215,281 52,151 394,762 (1,165,673) ( 718,760) 65,015 52,151 462,752 ( 497,280) 17,623 280,296 52,151 738,976 566,260 1,357,387 1,604,619
$1.54L411 11.649.327 g. 398. 317_ - $381,10_q $12AJ10
(.. .. . . ..
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COMBINING STATEMENT OF REVENUES, EXPENSES AND C11ANGES IN RETAINED EARNINGS PROPRIETARY FUNDS SEPTEMBER 30, 1981, WITH 1980 COMPARATIVE TOTALS FOR Tile YEAR ENDED SEPTEMBER 30, CITY OF ALACHUA, FLORIDA OPERATING REVENUES OPERATING EXPENSES Power Production Expenses: . Nuclear Power Generation ' Purchased Power and Other Customer Accounts Depreciation Distribution Expenses - General and Administrative: Nonrecurring . Inventory Adjustment Other (Recurring) Expenses ' Taxes Transmission Expense - Operation 1
.Traatment - -
(TOTAL OPERATING EXPENSES) <
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OfERATING INCOME (LOSS) _ NONOPERATING REVENUES (EXPENSES) , Interest Incone Interest and Fiscal Charges Amortization of Bond Issue Costs Miscellaneous (Expense) Income TOTAL NONOPERATING REVENUES (EXPENSES) NET (LOSS) 2
=-
RETAINED EARNINGS, BEGINNING OF YEAR As Previously Reported Adjustments As Restated RETAINED EARNINGS, END OF YEAR T'
~23-
1 i t i, TOTALS ELECTRIC
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WATER SEWER 1981 1980 i $1,579,153 $ 140,363 $ 146,021 $1,865,537 $1,613,185 i
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122,382 122,382 172,564 . 1,163,090 1,163,090 980,768 { 29,180 9,663 8,569 47,412 52,009 j 41,375 47,881 61,937 151,193 124,991 j 22,448 30,395 42,535 95,378 139,993 110,000 ( 15,000) 95,000 0 ! 128,108 31,828 27,042 186,978 104,827 i 4,264 4,264 3,815 24,825 24,825 22,555 1,945 13,357 , 15,302 13,346 (.1,645,672) ( 106,712) ( 153,440) (1,905,824) (1,614,868) 9 lC 66,519) 33,651 ( 7,419) ( 40,287) ( 1~,683) 9,742 61,476 71,218 85,294
- ( 59,603) ( 41,086) ( 186,450) ( 287,139) ( 269,689)
,( 5,000) ( 1,981) ( 6,981) ( 7,256) 908
- (
- 53,953) ( 41,086) .
( ( 127,347) 392) m. 516 ( ( 222,386) ( 1,241) 192,892) ( 120,472) ( 7,435) ( 134,766) ( 262,673) ( 194,575) ! ?
, =,.
721,572 470,187 ( 362,514) 829,245 1,039,866 ( 548,949) , ( '548,949) ( 564,995) 470,187 { 172,623 ( 362,514) 280,296 474,871
$ 52.151 $ 462.752 $( 497.280) $ 17.623 $ 280.29_6
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l y i t COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1981 CITY OF ALACilUA, FLORIDA N USE OF WORKING CAPITAL l Net Loss I Items Not Requiring Outlay of Working Capital: Depreciation , j Amortization Working Capital Applied to (Provided From) Operations . I Property, Plant and Equipment Additions Increase (Decrease) in Restricted Assets Decrease in Long-Term Liabilities - Reclassifed As Current .f Increase in Miscellaneous Deferred Debits , (TOTAL USE OF WORKING CAPITAL) SOURCE OF WORKING CAPITAL Advance From General Fund Increase in Current Liabilities Payable From - Restricted Assets h Emu 3 Contributions Reclassification of Sewer Assessment As Current
; TOTAL SOURCE OF WORKING CAPITAL (DECREASE) INCREASE IN WORKING CAPITAL (BELOW)
CliNJCES IN WORKING CAPITAL BY COMPONENT Current Assets - Increase (Decrease): - Cash Investments Receivables Duc From Other run' Inventory Prepaid Expenses Current Liabilities - Decrease (Increase): Accounts Payable Other Accrued Expenses Customer Deposits Due to Other Funds Deferred Credits " Electric Revenue and Improvement Bond Anticipation Notes (DECREASE) INCREASE IN WORKING CAPITAL (ABOVE) w 1 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
I O L s TOTAL ELECTRIC WATER SEWER - 1981
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$ 120,472 $ 7,435 $ 134,766 $ 262,673
( 41,375) (47,881) ( 61,937) ( 151,193) ( 5,607) ( 4,288) ( 9,895) _ 73,490 (40,446) 68,541 101,585 145,899 96,257 1,579 243,7'35
- 11,303 (13,706) 175,464 173,061 500,000 7,800 507,800 21 21
; (730,713) _ _ _ _(49,905) (245,584) (1,026,202) 154,000 154,000 11,053 35,583 82,888 129,524
- 10,723 4,718 15,441
, 63,038 63,038
. 11,053 46,306 304,644 362,003 l
._IL1L6_6_Q) 1 ( 3.599)' 59.060 *
( 664.199) 2,710 6,435 ( 10,036) (115,252) - ( 891) ( 115,252) ( 31,717) 10,233 21,484) ( ( 41,667) (18,741) 11,139 49,269) ( 59,878) 16,748
-(
( 731) ( 43,861) 4,376 4,376 96,048 3,957 ' 287 100,292 ( 5,433) ( 285) ( 729) 6,447) ( 10,288) ( ( 10,288) 18,641 (11,713) 48,897 55,825 ( 77,200) 77,200) ( (500,000) ' ( 500,000)
$ (719.66_0_) $( 3.599) $ 59.060
_$ ( 664.199)
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l u"lt milam!ll . .. CITY OF BUSHNELL SEAT OF SUMTER COUNTY P. O. BOX 115 . PHONE 793 2591 0 :. BUSHNELL, FLORIDA 33513 3 I l March 26, 1982 , I i l TO'WHOM IT MAY CONCERN: . l Attached are those portions of the city's audit relating to the enterprise '
nds which includes the Electric Department. The combine balance sheet; i
the Statement of Revenues and Expenses, and Changes in Retained Earnings; l the Statement of Changes in Financial Position; along with the Notes of the Auditor relating to our Enterprise Funds are all attached for your review and consideration. If additional information is required on this matter, please contact: Vince Ruano City Manager P.O. Box 115 Bushnell, F1. 33513 l Sincerely, I)m l Vince Ruano l City Manager l l VR:ph l e 9 4
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s ENTERPRISE FUNDS Enterprise Mmds are used to accomt for operations (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is tut the costs , (expenses, including depreciation) of providing goods or services to the general public on a con-tinuinr througa,userbasis be financed or recovered primarily charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accomtability, or other purposes. Certain mimMistrative expenses are paid by the General Fmd. , g. I 4 a a e
Statenent C-1
/ CITY OF BUSINEII, RDRIDA - L' r
!!NIERPRISE RNDS CNBINING BAIANCE SHEER SEPIEMBER 30, 1981
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E BCIRIC WATER ' UTILITY UTILI1Y GARBA2 TdrAL RND RNb RND 1981 ASSETS Current assets:
- Cash S 45,246 S 11,379 $ - S 56,625 Investments (note 1) 3,600 - -
3,600 Cusrawr accounts receivable 91,999 6,639 3,541 102,179 Allowance for doubtful accotuts ( 2,000) ( 123) ( %) ( 2,219) Accrued interest on investments 3,795 3,795 Due from other fmds 150 150 Inventories, at cost (note 1) 14,116 6,307 20,423 156,906 24,202 3,445 184,553 Restricted assets (note 2): Debt service Cash with fiscal agent 3,215 - - 3,215 Investments (note 1) 77,325 - - 77,325 Due from other funds 27 - - 27 Renewal and replacement Investments (ncte 1) 35,000 - - 35,000 Capital inprovanent Cash 775 150 - 925 Investments (note 1) 60,000 - - 60,000 Construction Cash 500 - - 500
Custnwr deposits Cash $ 9,768 $ -
$ 9,768 Investznents 25,000 - -
25,000 Due frczn other funds 950 - - 950 Accrued interest on investinents 671 - - 671 213,231 150 - 213,381 Pswif and equipwne (at cost - notes 1 and 5): Land 2,300 - - 2,300 Buildings 9,187 14,094 - 23,281 Distribution plant 492,430 218,268 - 710,698 Machinery and equipment 51,117 18,316 21,302 90,735 Crystal River Unit #3 (note 6) 190,355 - - 190,355 745,389 250,678 21,302 1,017,369 Less: Accumulated depreciation 216,366 82,988 17,662 317.016 529,023 167,690 3,640 700,353 IUIAL ASSETS $899.160 $192.042 $ 7.085 $1.098.287 i
, See Acccup ygg Notes s i
Statment C-1 CITY OF BUSINEIL, EIORIDA , ENIERPRISE FINDS ONBINING BAIJWCE SHEET SEPIENBER 30,1%1 EECIRIC WATER UTILITY UTILITY GARBA2 '1UIAL FLND EIND EIND 1981 LIABILITIES Current liabilities: Accounts payable S 65,530 $ 308 $ 422 S 66,260 Accrued liabilities 2,563 539 - 3,102 Due to other fmds 5,442 2,921 - 8,363 73,535 3,768 422 77,725 Current liabilities (payable fre restricted assets): Customer deposits 30,483 - - 30,483 Accrued interest payable 16,560 - - 16,560 Revenue bonds payable 8,400 1,600 - 10,000 Accomes payable 2,061 354 - 2,415 57,504 1,954 - 59,458 Img term liabilities: Revenue bonds (net) (note 3) 399,320 43,258 - 442,578
'IUTAL LIABILITIES 530,359 48, % 0 422 579,761 Ftmd equity:
Contributed capital 146,922 182,904 6,067 335,893 Retained earnings (deficit): Reserved 153,773 150 - 153,923 Unreserved 68,106 ( 39,992) 5% 28,710 221,879 ( 39,842) 5% 182,633 8 - 4
l MNW $368,801 $143,062 $6,663 $ 518,526 N NN M N W SM $M $1.JB5 $g l See Accming Notes
Statenent C-2 CITY OF BUSHNEII, HDRIDA , ENIERPRISE REDS COMBINING STATENENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS (DEFICIT) EDR THE YEAR ENDED SEPIEMBER 30, 1981-ELECTRIC WATER UTILITY UTILITY GARBAE IUPAL FIND FIND FLND 1981 Operating revenues: Charges for services $876,927 $55,009 $38,572 $970,508 Operating expenses: Purchased power 652,823 - - 652,823 Salaries 30,281 21,151 20,352 71,784 Ettployee benefits 7,854 3,%7 4,523 16,344 Professional services 21,671 3,705 500 25,876 Travel and per dien 272 113 - 385 Utility services - 7,312 - 7,312 Ccummications 648 - - 648 Insurance 2,592 1,415 62 4,069 Repairs and maintenance 1,893 1,009 761 3,663 Office supplies 1,056 380 413 1,849 Operating supplies 4,495 1,803 3,612 9,910 OtNr current charges 2,950 %4 25 3,939 Books, publications and msnberships 3,133 - - 3,133 Bad debt expense 1,860 123 95 2,078 Depreciation 24,942 5,661 2,427 33,030 Rate study 18,491 - - 18,491 774, % 1 47,60_3 32,770 855,334 Operating income 101,956 7,406 _5 S02 115,174 Non-operating revenue (expense): Interest earned 15,561 - - 15,561 Bond interest expense and fiscal charges ( 29,949) ( 4,801) - ( 34,750) ( 14,388) ( 4,801) - ( 19,189) O
Incane before transfers S 87,578 $ 2,605 S 5,802 $ 95,985 Operating transfers to general fund ( 53,831) ( 6,000) ( 5,206) ( 65,037) Net income (loss) 33,747 ( 3,395) 5% 30,948 Retained earnings, beginning of year 188,132 9,424 - 197,556 Prior period adjustment (note 5) - ( 45,871) - ( 45,871) Beginning balances, as restated 188,132 ( 36,447) - 151,685 REIAINED EARNINGS (DEFICIT) BAIANCES, END OF YEAR S221.879 ($39.842) S 5% SEQ See Acccupanying Notes
i I Statanent C-3 ~ CITY OF BUSHNEIL, FIDRIDA / ENIERPRISE FLNDS COMBINING STATENENT OF CHANGES IN FINANCIAL POSITION FOR TIE YEAR ENDED SEPIEMBER 30, 1981 EECIRIC WATER UrILITY UrIIITY GARBAGE TOTAL RND FLND FLND 1981 Sources of wrking capital: Net income (loss) $33,747 ($ 3,395) $ 5% $ 30,948 Add: Items not requiring the use of wrking capital: Depreciation 24,942 5,661 2,427 33,030 Amortization 923 103 - 1,026 Working capital provided by operations 59,612 2,369 3,023 65,004 Developer contributions - 16,475 - 16,475 Decrease in other assets 5,044 - - 5,044 Increase in current liabilities payable fmn restricted assets 3,389 354 - 3,743 Decrease in restricted assets - 12,638 - 12,638 Total sources of wrking capital 68,045 31,836 3,023 102,904 Uses of wrking capital: Acquisition of property and equipment 31,677 24,230 - 55,907 Decrease in long term revenue bands payable 7,000 1,400 - 8,400 Increase in restricted assets 23,82,0 - - 23,820 Total uses of wrking capital 62,497 25,630 - 88,127 IEr I! CREASE IN WORKING CAPITAL (SCHEDUE BEEN) SM $_6 206 02
$3.0_23 $ 14.777 . - l 8 1 3
e
4
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Elanents of neti increase { decrease) in vorking capital: - Cash i - ($ 467) $ 1,169 ' '$ ' - $ 702 , Custrenar accounts receivable (net) 881 6,516 3,445 10,842 Accrued interest' on investments ( 1,293) ( 735) - ( 2,028) Due fmn other fmds ( 400) ( 3,366) - ( 3,766) Inventaries ( 782) 2,523 - 1,746-Prepdd expmses ( 6,759) -
. , i. ( 6,759)
Accomes payable 10,200 813- (' 422) 10,591 Accrued liabilities 2,390 1,705 - 4,095 Due to other f mds 1,778 ( 2,424) _- ( 646) NET INCREASE IN N CAPITAL $.M S 6.206 $}[0j ' $M , 6 f ' '
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1 J * . s t
/( *.I
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i . See Accmpmying Notes
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Exhibit 4 u ' CITY OF BUSINELL, FIDRIDA COMBINED STATDENT OF REVENIES, EXPENSES AND CIMCES IN PETAINED EARNINGS - AIL PROPRIETARY RND TYPES FOR TIE YEAR ENDED SEFraBER 30,1%1 ,_ ENTERPRISE FLND TYPE _S Operating revenues: Charges for services $970,508 Operating expenses: Purchased power ' 652,823 Salaries 71,784 Ehployee benefits 16,344 Professional services 25,876 Travel and per diem 385 Utility services 7,312 Comnmications 648
, Insurance 4,%9 r
Repairs ed maintenance 3,663 Office supplies 1,849 Operating stypties 9,910 Other current charges 3,939 Books, publications and menberships 3,133 Bad debt expense 2,078 Depreciation 33,030
- % Rate study 18,491 855,334 Operating income 115,174 Non-operating revenue;(expense):
Interest earned 15,561 Bond interest expense and fiscal charges ( 34,750) ( 19,189) Incane before transfers 95,985 Operating transfers to general Emd ( 65,037) Net income (loss) - 30,948 Reta'(ned camings, beginning of year 197,556 Prior, period adjustment (note 5) ( 45,871)
~
Beginning balances, as restated 151,685 tA y RETAINED EARNINGS, END OF YEAR h~ S.182J33 l See Accmpanying Notes l l- ' I s d
Exhibit 5 CITY OF BUSINELL, FIDRIDA Q)MBINED STATDf2Tr OF CilANGES IN FINANCIAL l'OSITION - AIL PROPRIETARY FLND TYPES FOR TIE YEAR ENDED SEPITNBER 30, 1981 ENTERPRISE FIND TYPES Sources of working capital: Net incme S 30,948 Add: Items not requiring the use of working capital: Depreciation 33,030 Amortization _1,026 Working capital provided by operations 65,004 Developer contributions 16,475 Decrease in other assets 5,044 Increase in current liabilities payable frm restricted assets 3,743 Decrease in restricted assets 12,638 Total sources of working capital 102,904 Uses of working capital: Acquisition of property and equipment 55,907 Decrease in Img term revenue bonds payable 8,400 Increase 4.n restricted assets 23,820 Total uses of working capital , 88,127 NET INCREASE IN WORKING CAPITAL (SCllEDUIE BELI)W) S ,1_4.,.777, Elments of net increase (decrease) in working capital: Cash $ 702 Custmer accomts receivable (net) 10,842 Accrued interest on investments ( 2,028) Due fra other fmds ( 3,766) Inventories 1,746 Prepaid expenses ( 6,759) Accomts payable 10,591 Accrued liabilities 4,095 Due to other fmds (
- 646)
NET INCREASE IN WORKING CAPITAL S1h7.77 See Accmpanying Notes k 4 4 s
1 CITY GF BUSINEIL, Fil)RIDA IFitT'ID FINANCIAL SIAITHNTS $ WI IUIE 9 SFDENT INFORMATION FOR ENTERPRISE FINDS The City maintains three enterprise funds which provide electric, water and garbage services. Segment information as of Septanber 30, 1981 is as follows: Electric Water Total Utility Fbnd Utility Fund Carbage Fmd Enterprise g Funds WI Operating revmues $876,927 $55,009 $38,572 $970,508 Depreciatim and anortization 25,865 5,764 2,427 34,056 I Operating incane 101, % 6 7,4% 5,802 115,174 Operating transfers to gmeral fund ( 53,831) ( 6,000) ( 5,206) ( 65,037) 3 a Het income (loss) 33,747 s ( 3,395) 5% 30,948 m Curret year capital i g contributims - 16,475 - 16,475 Property and equipment additims 31,677 24,230 - 55, % 7 Net working capital 83,371 20,434 3,023 1 % ,828 Bands payable (net) payable fran operatlig y reve ues 399,320 43,258 - 442,578 g
-l Total equity 368,801 143, % 2 6,663 518,526 o
M l g c o _l
I l
- CITY OF BUSitEII, FIDRIIR NuntS '10 FDWK:IAL STAT 2ffNTS l
tUTE 3 ?CIES AT BONDS PAYABIE
- i
'Ihe following is a stmmary of all notes and bonds payable of the various fm ds and general long term debt.
Utilities Systm Revenue Bonds Series 1976 - $500,000
'Ihe 1976 bonds are cotpon bonds in denmination of $5,000 each and are collateralized by a pledge of the gross revenues of the utilities system. The bonds were recorded according to use of the original pro- s ceids as follows - Electric Utility Fund 84%; Water Utility Fund 167..
Bond maturities and interest rates are as follows: ' Maturity Cotpon Principal April 1 Rate Amomt Serial Bonds: 1982 5.9% $10,000 1983 6.1 15,000 1984 6.2 15,000 1%5 6.3 15,000 1986 6.4 15,000 1987 6.5 20,000 1988 6.6 20,000 1%9 6.7 20,000 $130,000 . Tenn Bonds: 1999 7.3 340,000 Total principal balance outstanding 470,000 1 mss: thumortized discomt and issue costs 17,422 3452.578 Ceneral long Tenn Debt Principal lialan'ce M _Septenber 30, 1981 s Note payable, collateralized by utility tax
- revenue, due in monthly payments of $530 including interest at SI S 23,434 Note payable, collateralized by utility tax revenue, due in monthly payments of $1,085 including interest at 5.5% 24,118
$_AZ,552 e
f f l i CITY OF BilSINELL, FWRIIR WIES 'IO FINANCIAL STATIMNTS
!UTE 5 CliANGS IN IUID REPORTING ENTITIES / PRIOR PERIOD MUUSIMNES (Continued)
Prior Period Adjustment - Water Utility Fmd The begiming fmd balance of the Water Utility Fmd was decreased
$45,871 to reflect adjustmmts to Property ar.d Equipment and Accuiu-lated Depreciation. An inventory of property and equipment was made during the year and engineering estimates obtained of acquisition dates, useful lives, and original cost of the water distribution sys-
,, ten. Depreciation is recorded as explained in note 1.
IUTE 6 CRYSTAL RIVER INIT #3 PARTICIPATION AGEEMNr
'Ihe City is a participant in an agrement with Florida Power Corp-oration which was entered into on July 31, 1975. thder terms of the agreement the City acquired a 0.0388% ownership interest and genera-tion entitlenent share in the nuclear steam electric generating mit.
Participants are entitled to energy output of the mit based upon their respective gmeration entitlenent share. Florida Power Corporation has been appointed by the participants to act as their agmt and have sole authority to manage, cmtrol, maintain
' and operate the mit. Operating costs of the mit, in general, are shared in proportion to each generation entitlement share on a monthly basis. Cmmon and external facilities of the generating unit are solely owned by Florida Power Corporation and participants share in the opera-tim and maintenance expenses of such facilities. Nuclear fuel payments are required of participants in advance.
'1he participation agreenent provides for reversion of the ownership interest of the mit to Florida Power Corporation upon retirement from service. The depreciated cost of the investment included in Utility Plant in Service anounts to S159,611 as of Septauber 30, 1981.
tOIE 7 'IUTAL 001DNS ON COMBINED STATEMNES - OVERVIEW Total colums on the Canbined Statenmts - Overview are captimed
' Manorandun Only to indicate that they are presented only to facilitate financial analysis. Such data is not cmparable to a consolidation. l Interfmd eliminatims have not bem made in the aggregation of this l data.
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