ML20070N636
| ML20070N636 | |
| Person / Time | |
|---|---|
| Site: | Crystal River  |
| Issue date: | 12/31/1993 |
| From: | GAINESVILLE REGIONAL UTILITIES |
| To: | |
| Shared Package | |
| ML20070N491 | List: |
| References | |
| NUDOCS 9405090050 | |
| Download: ML20070N636 (621) | |
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GRU: The l'ublic Advantage s e ^' 9,
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ecognized as one of the best The citizens of Cainesville are com-places to live in America, Gaines- mitted to maintaining a beautiful city.
Rville, Florida leads the region in commerce, education, culture They are also dedicated to promoting appropriate economic development that and the wise management of resources. will offer increased economic opportuni-The local economy is sound in its diver- ties to all members of the community.
, sity, including technology, medicine, ser- With that in mind, they have chosen to j vices, trade, banking, insurance, agdculture, own and operate four major utility ser-j govemment, and higher education. vices under the umbrella of Gainesville
! One of the leading research institu- Regional Utilities.
tions in the nation, the University of GRU is dedicated to providing elec-Florida is the largest and most influential tric, natural gas, water and wastewater school in the state. The university's services to the people of the Gainesville 36,000 students and 18,000 member staff area, offering the highest quality service combine with the 11,000 students of at the lowest possible price, while return-Santa Fe Community College to make ing a reasonable profit to the city govern-Gainesville one of the most prominent ment of its owners, the citizens of I educational centers in the southeastem Gainesville.That profit, in tum, is used to United States. provide municipal services to the people.
! The medical community in Gaines. GRU is part of the community commit-
- ville is also one of the largest in the south- ment to enhance the quality of life in cast, with four major hospitals supported Gainesville, j .. offering by numerous clinics, specialized medical
! practices, and medical businesses.
j the highest The visual and performing arts Large Photo: Plaer, ring [er li e titure GRU has <stal-
{ quality fl urish in Gainesville, as the city offers Inh <J a rhe'eveliax rei<a te h<le raur cruirmert at 1 professional theatre, music and dance 'h' fl""k Fn""' G"""I C'""'. The rea<a wdl I <
service at companies, a major center for performing I"',':;','{#"'";"('l,j/ "'""d'"i#""" " """'"" d
, arts, an active visual arts community, and
- the lowest Sm3H Photo
- l'a <'"'A Sa'* d'< draddi* fo'Ivd' notable museums of art and natural possible history. ",",,,"",,",d""",",",'""'"",",,"',,l'".,^!"ir""",'
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Net revenues after rate stabilization transfer. . . S 66,026,882 $ 64,460,046 2.4"h Aggregate debt service . . 27.,510,976 26.131,184 5.3%
- Aggregate bond debt service ratio . 2.40 2.47 (2.8"4.)
Total debt service ratio.. . . 1.96 1.90 3.2%
j 1.ong. term debt. 457,302,896 484,235,828 (3.6%)
Net utility plant.. . . . 459,010,830 443,227,572 3.6%
Cash and investment:
j Rate stabilization fund and revenue fund.. 32,495,649 33,211,451 (2.2"n)
Custorners (12 onontlos average):
Residential electric.. 57,492 55,692 3.2%
- Non-residential electric . .. . , . 6,891 6,835 0.8 %
l Total electric. . . 64,383 62,527 3.0 %
! Water.. 45,101 43,714 3. 2 "4, Wastewater.. 40,602 39,470 2.9%
Natural gas . . . 22,201 21,133 5.1%
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i Sales ofenergy (gigawatt hours):
Residential.. . 627.8 618.2 1.6%
1 General service /large power.. 646.3 624.1 3.6"6 i
1.ighting . 16.4 16.3 0.6"6 Sales for resale . 94.2 91.7 2.7 %
i Sub total . 1,384.7 1,350.3 2.5"h l Interchange . . 347.0 486.4 _(28.7%L Total.. 1,731.7 1,836.7 (5.7%)
Sales of water (rnillion gallons): . 6,700.0 6,426.3 4.3".h l Wastewater billett (rnillion gallons): 4,070.2 4,044.5 0.6 %
Naturalgas (rnillion therrns): . . 29.2 30.6 (4.6"h)
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i In " Electric Services" you will learn dynamic family of four utility about the public advantage GRU enjoys Gainesville Regional Utilities is a services with a common her- in owning its own generation facilities, itage and commitment, work- about the financial advantage of coopera-ing together to provide the public tive natural gas purchasing, and about advantage for the citizens of our commu- GRU's plans to expand generation to nity. GRU is founded on financial stabili- meet future needs. You will learn why ty, reliability, customer service, GRU is providing for the extension of a employees who are innovative and rail spur in order to expand transport receptive, and competitive rates. options, keeping down the cost of low-For the seventh consecutive year, sulfur coal. You will read about GRU's GRU has maintained among the highest new Springhills Service Center, providing bond ratings achievable by municipal faster, cost-effective service to our west-utilities. In all four utilities GRU achieves ern service area, and how a " storm of the among the highest reliability ratings century" proved the worth of our new found anywhere in the nation. Every year Automated Trouble Call System. Read our staff develops new and advanced on and discover how undergrounding programs, technology, facilities and ser- electric facilities downtown and offering vices to meet the changing needs of our multiple tree programs have improved
.. founded growing community. All four of our ser- the beauty of our community. You will on financial vices maintain rates well below average learn about new technologies, including for the state of Florida. an experimental solar program, that are stability We eagerly invite you to read the fol- daily adding to Gainesville's public lowing sections detailing our accomplish- advantage.
reliabikty, ments in providing electric, natural gas, In " Water and Wastewater Services" customer w ter and wastewater services to one of you will learn about Alachua County's the most proggssive communities in great treasure, the Floridan Aquifer, and service, America: Gainesville, Florida. how GRU works to utilize it safely. You In "GRU: The Public Advantage" you will see how the public advantage is aid-and will discover the philosophy behind our ing firefighters in the protection of our competitive services, and the history that led to its community. You will read about techno-development. logical and physical upgrades that are a rates. continuing tradition in GRU's award-
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j winning water system. This section will support services GRU provides to make I.arge Photo: GRUi General .ueug<r .Wluel L j also demonstrate why GRU is the only life easier for our customers, and to make Kun: (rglui and ca-,unuawrJim />ainter m f,eni j utilityin the state allowed to pump drink- the system run smoothly. You will read ol'h' GRU Ad**""o 8"ill*d GRU "'h doIV iing water quality effluent back into the about improvements in technology, such ""'" '" ".#'"""""'" '" rmd "nualunwa /or
] aquifer. You will learn about upgrades at as customer billing systems, financial l both wastewater treatment plants and management programs, and increased Small photo: Cemrwer Aul<J D<sien (CAD) rre 4 wastewater collection improvements in overall computer support and training. cums lule GRU < nan <<rs Je im <"tne mums w"h vital areas of the city. You will discover You will learn about how the public xuaur <tli""m that GRU has developed a " third" water advantage provides help to the disadvan-l utility to provide reclaimed water for taged, both in tenns of individual cus-
! reuse projects, such as water gardens, golf tomers and small businesses. You will l course irrigation, and the irrigation of a discover the many conservation pro-
! new veteran's memorial park. grams provided by GRU, including publi-i In " Natural Gas Services" you will cations, videos, workshops, and j learn more about the beautiful and ener- conservation analysts who provide free q gy-efficient Springhills Service Center, surveys for local homes and businesses.
- and the benefits of cooperative fuel pur- You will see that this year GRU spon-I chasing. You will read about the public sored a children's conservation play for
- advantage of cooperation between elec- the local school system, an educational
! tric and gas systems, and about a new effort so successful it will soon enjoy a j focused program to develop natural gas state-wide tour of 34 counties, truly a i services in low-income neighborhoods. public advantage.
l You will read about the system expan- Finally, in " Financial Summary," and i sion achieved as GRU becomes the .sup- in the auditor's report that follows, you j plier of natural gas to the University of will see the solid financial standing that j Florida's planned co-generation plant. results from dedication to the public j You will discover that, with the public advantage.
- advantage in mind, GRU recommends Enjoy reading GRU's Anuual Report j natural gas to customers over electricity for Fiscal Year 1993. We are proud of our i in all cases in which it is to their benefit. family of utilities, and the service we pro-l In " Customer and Administrative vide in this community.
j Services" you will learn about the many
(U3 The Public Advantage
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roviding the public advantage to The level of dedication CRU has the citizens of Gainesville is one of toward customer service can only be Pthe primary goals of GRU. The people of Gainesville have chosen maintained by a public utility, as the growth and the financial stability of GRU to own and operate four of their most are designed to meet the needs of the important utilities, and by doing so have community, rather than investor profits.
I gained the following advantages: A secure and expanding financial struc-GRU's rates for electric, natural gas, ture is part of that dedication, as GRU's water and wastewater services are lower continued " double A" bond ratings also than those of most private companies. help keep rates down.
Increasing this financial advantage, prof- Gainesville citizens are able to deter-its from GRU remain in the community, mine the destiny of these four utilities helping to keep down taxes by support- through their elected representatives.
ing vital services such as police and fire Throughout the history of the communi-
. proms protection, and many other local govern- ty the people have made it clear that they from GRU mental nceds. enjoy the public advantage, and wish to keep it.
remain in the cornmunity, supporting vital sorvices such as police and fire protection.
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As early as 1891 the city of Gaines- Natural gas had been provided to Large photo: A memicr of Cainesville's fvhce force ville began providing pure drinking water Gainesville by private firms by franchise revid<s rrmen the our childun A rertion c/ GRLs to its people from the now historic Boul- since 1887. However, in 1990, the city rr#s are raurnc/10 teu citv5 general li,nd for ilu ware Springs. In 1905 this abundant sup- welcomed gas service as part of its family 5"rren c/ivlia. / ire an./ orlur <"<nn~al genr">"<ntal ply attracted the University of Florida to of public utilities. "'""*
locate in Gainesville. There is pride in this community for Small photos, left to right: CRU's rhatxeltaic In 1912 the city added electric power its public utilities, and in the knowledge roi<ct " a J< menu anen kr othe Palines that atua4 to the public advantage after a private that they play an important part in main- haw ed"'r"u"t for canarim8DC m:0 Ac rower.
company shut off the street lights over a taining a superior quality of life. py yy g,,cfaj,,ys ,,,,,,, j,,jg.u,, fu,f ,qf,,y,s, js bill dispute oE $7.30.
,,,,eurnativ e dGRtrs newest tvre ef censervati:n. The In 1929 concemed citizens voted reuse gred.nmed waur is in essence a thirJ' waur iail-tWo to one to establish a policy perma- ny itJuang l':th the a nJunt g water taken frcm the nently binding electric and water services secund and the amount c(waur retw uJ to it.
to public ownership.
Shortly thereafter, in 1930, a publicly owned wastewater treatment facility was constructed at the southem edge of town.
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I ustomer satisfaction is at the Another computer program designed sometimes it is keeping up with "high l
} heart of the public advantage. to improve customer service is the Inte- tech" and sometimes it comes from con- !
j GRU's Customer and Adminis- grated Financial and Materials Manage- cern for the welfare of individuals. GRU
! trative Services exists to make ment System (IFAMM). The IFAMM is entering its tenth year supporting Pro- '
{ certain our customers enjoy the benefits project has replaced non-integrated soft- ject SHARE, a program designed to pay j of being part of a family of services, as ware systems and has improved financial the utility bills of Gainesville's elderly, ,
l well as receive individual attention for data input, inquiry requirements and handicapped, and those in need due to their needs. This diversified area provides reporting capabilities. IFAMM allows for medical hardship. GRU provides the
- direct customer service, as well as finan- easy retrieval and flexible reporting of means for customers to donate through
{ cial, conservation, information, meter financial and materials infonaation. their monthly bills to help their neighbors j reading, billing, purchasing, real estate, Increasing computer use to provide in times of hardship. The program is
! and materials services for both customers better service places demands on the administered by United Way and the Sal-l and internal support. computer network system. During FY 93 vation Army. '
- Meeting the needs of customers is GRU increased computer processing Florida Fix is another program in j the purpose of GRU's new Customer capacity and disk storage by 400%. This which GRU shows its concem for the ;
! Billing and Information System (CBIS). expansion allows GRU to keep pace with disadvantaged. Employees donate their i This system consolidates customer bills our commitment to provide the highest time each year to help a designated cus-
! for all four GRU services as well as other quality public advantage possible. tomer save on utility bills through '
i city services. This allows customers to Keeping up with expanding comput- improving the energy efficiency of the 1 apply for, and pay bills for, all of these er technology requires training. In FY 93 home. Volunteers install insulation and ,
j services at once, rather than having to GRU's Information Systems User Sup- weatherstripping, and perform other j i deal with multiple bills. It also keeps port Division began offering a wide vari- energy saving repairs.
i costs down by eliminating duplication in ety of computer training courses to GRU's concem also extends to the j mailing, meter reading and processing. employees of both GRU and the city's support of local small businesses. GRU
] During FY 93 a special GRU task force general govemment. Response has been has identified certain areas in which j was assembled to make CBIS even more so great the program will be expanded in small, disadvantaged local businesses can i efficient. Their project has been success- the coming year. Keeping all employees successfully compete for vendor con-ful in ugroving CBIS functions, includ- up to date is part of the public advantage. tracts. GRU works with these suppliers to
! ing the installation of a larger capacity Commitment to community cus- educate them in GRU's procurement j computer that upgraded the processing of tomer service comes in many forms, process and to develop them as effective j mtormat on. suppliers of goods and services for the utility. Additionally, GRU continues to i
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support the Council for Economic customer newsletter, "GRU Bulletin," is GRU's Budget, Finance and Account-Outreach's efforts to attract new business delivered each month as a bill insert. ing department is also in Customer and to our community by contributing It's conservation and utility information Administrative Services, and its success-5100,000 per year. In conjunction, GRU has been surveyed at a high level of fut activities are defined in the section representatives meet with interested readership. GRU's information efforts entitled Financial Summary.
businesses to inform them about avail- received three " Image Awards" from the able utility services. Florida Public Relations Association in FY Educating the public in energy and 93, adding to a long list of awards over water conservation is an important part the years. Large photo: GRU stvr ssr<J anJginded the J 1 r a provides m. formation, but also offers free tour of all AlaAna ccunty elementary uhxis. Th< riar system is one of our most important g ,g ,3, u p,,, ,, ,,,,, ,,,j ,,,,, y,,,,,my,,,
residential and commercial conservation efforts. GRU publishes the " Conservation . 3g, ,,y,,,,,,,,,,,, ,3,,., ,,,3 j,, a ,,ng f - ,,,,,,w,,.
surveys to our customers, as well as gas Chronicle" quarterly for distribution in se,vano,,. savvy ,,,,ay,7u,,jaf encrus mas s, ,
appliance rebates. A commercial lighting Alachua County schools, hoping to help cessp it won a starew,Je graneto reur s<nuls ,,, y program is also available. Informational create a new generation of conservation wunn<< n< rlar was wr"ren and J<ulered unda the programs include a Speakers Bureau for conscious customers. A very special pro- sur<rvnion c/ GRU Iv the narienal/r r<<cxnied Ihriv-local organizations, in which GRU ject was developed for the schools this Jo"r< St."< M<atu. Iaaudin Gauu vale.
experts explain GRU services, facilities year, as GRU sponsored and guided the Smali photos,left to right: GRUrrdu,<> ce,,wrva.
and policies. New in FY 93 was the Trade development of a conservation play for ,,,,, a,,J ,,,,ry,,cy puny y,v,c, a,,,,cu,,c,,,y,yg, nqc.
Alliance Program (TAP), a series of work- the Alachua County elementary schools. vn,gn and ,adre so,,,,cf, hey award m ,y,n,,g ugmyus shops for local contractors and home- "EcoHeroes" taught energy and water advise ih< ruHu cn a hat sur< to ralu demx < nag and builders, providing information needed to conservation in a very entertaining wara <megn in camd ly wrnn and c:he Jiwies construct an energy-efficient building. manner. Children team best when they d o rre"r,'< w"s< m uien reactu<* J< v ud to <n+ v GRU provides brochures, an annual Cus- are amused, and "Zelnar," the friendly <""A a"d w "" an"N'J"r k i"to 'h< ha"u-tomer Guide to services, an annual space alien, teaches conservation in a cge a,.J sna,as ne,rital have pi>,d t g<iher e rs cr, au
" Drinking Water Week" tabloid, regular very humorous manner. The play was so a Omd< #v erna lxe amura greaur Game,vate.
video public service announcements for successful it has been chosen for a 34 7he txr wdlallow CRU ta rra"sma highered data re local television, and a video library on cc,unty state-wide tour. This is the third unhrv taahn<> rirreyhora rhe unice aua shand wdl conservation available in schools and chddren's conservation play produced "u " u rran mu mdica!Jau local libraries. Also new this year is by GRU.
" Conservation Comer," a weekly column l in the local newspaper offering conser-l vation tips and information. GRU's F
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m lectricity is an essential compo- Generation Facilities
! nent of modern life in America. The people of Gainesville enjoy an J j GRU's electric system contributes enormous public advantage in owning <
Mto the public advantage by pro- their own generating plants, rather than viding reliable and low cost energy. having to pay higher prices by purchasing Costs are kept low by the careful pur- power from outside sources. GRU has ;
chase of fuel and choice of fuel sources, two generating stations.
as well as by selling excess power to The John R. Kelly Generating Sta- ;
l other utilities through firm agreements tion, located near downtown Gainesville, !
and interchange sales. GRU's first com. has been in operation since 1912. The !
mitment is to native load, our local cus- Kelly Plant currently operates two natur- )
tomers. Therefore we plan far into the al gas / oil-fired steam units and three nat-future to make certain we are always pre- ural gas / oil-fired combustion turbines pared to meet local demand on the with a combined capacity of 103 hottest day of summer or the coldest megawatts (MW1 night of winter. The Deerhaven Generating Plant,
! Quality of service is kept high by located at the northern edge of l keeping up with the latest in technology, Gainesville, currently operates one coal.
i and through the proud dedication of our fired steam unit, one natural gas / oil-fired l
R ; iab!e.
employees. GRU has developed innova. steam unit and two natural gas / oil-fired l speedy tive tree trimming and tree trading pro- combustion turbines with a net generat-l grams to improve reliability while ing capacity of 334 MW. GRU also owns service supporting our commitment to " Tree a 1.4% share of Florida Power Corpora-l City, USA." By constructing underground tion's Crystal River generating unit, pro-comb.ned fac 1 ties in new developments, by con- viding an additional 11 MW for a VMha mting older neighborhoods to under- system-wide net generating capacity of ground where possible, and by installing 448 MW. i concern for sturdy overhead "acrial cable" in older neighborhoods. GRU adds to the reliabil-tne beauty icy of our public advantage service.
of our i community. .
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.m in addition, GRU's Trade-A-Tree Attention to the future needs and program reptemshes the canopy by offer- concems of our community led GRU t Electric System Number of -
ing free native hardwoods to customers Ret establish a photovoltaic (solar) project at 4, ail who have large problem trees removed the Electric System Control Center in FY MCustomers hrM' - -
from their property. GRU has added an 93. The project includes the installation j annual " Tree Giveaway" to that program, ,7 of a 10 kW solar powered system to help ,"
f' -
providing thousands of beautiful trouble- run equipment at the facility. Funding , , , , , ,,,
free trees to customers. Each customer will be obtained through public contribu- a, may receive up to four trees, along with tions as a means to measure the commu- i i 4 i i i i>
advice and information on how to plant nity's commitment to future solar
- them in beneficiallocations. projects. Additional funding will be pro- 91 In the age of information, speed is a vided through federa! grants. i><>> >>>ii valuable public advantage. In FY 93, GRU '"
Ongoing projects to improve over-and Shands Hospital began a joint project to construct a 30-mile fiber optic loop head facilities, increase the capacity of substations, and replace outdated street i
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around greater Gainesville. This loop will lighting with attractive and efficient fix- a commmw a inaum,muum provide GRU with the ability to transmit tures are among the countless ways a neemmum high speed data to utility facilities all over GRU's electric system strives to maintain I the service area. Shands will use the loop the public advantage. c for the rapid transmission of medical h'jn. System jf Energy Sales j j- j ,e f 7
data. Nine miles of the loop are in place, with completion expected in February of ,7p /
4
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Another project designed to speed a, N information is an improved Automated i, Mapping / Facilities Management /Geo- " u pi '2 "
graphical Information System (AM/FM/
GIS). When completed this system will 9:
> i h% i e > **
provide complete computerized mapping " '
of electric, water and wastewater facili- u ' ' , , , ,,
t.; y 7 gg ties, allowing engineers and repair crews quick access to vital information about L> + - -
a in<msanx. oc.o>
specific facilities in need of attention. " 0"T;"7'y g" * " N '
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3 i S 7.g p + .- ny - 2 l l The storm provided the first true test Aesthetics were also enhanced as FY Large photo: GRl' tra,rsmmn hun la' h the after-93 marked the seventh and final year of "Je" ""' Ihe Joh ">."' cf GRt 's h"< <rews h " !<d to l for GRU's new Automated Trouble Call customer transfers under a 15 year terri- <""I
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l System (ATCS). The computerized sys- *""'"'r tem can handle 15 calls at one time, and torial agreement between GRU and Clay during the storm it averaged three calls Electric Cooperative. GRU received Srnait photos, left to right: IIntn. sorno ml'aa. approximately 4,000 new customers um .uc med . ,egs.n< r;< vhas cf rou e Iew l per minute. Once a customer's phone number has been registered with ATCS, from Clay over the seven years in a mutu- 6 what CRL's s<nu ,rea a em!nr.mer ef wara-the program verifies the street address ally beneficial agreement that climinated "<" and "ochborhud va#c'mu <"+< rhar a~ the unsightly and costly duplication of ' ' " " " > na"7 *< o r ^ ' vehe />r '~d<>"tal and l and prompts for outage information. ' " """"al " "
- Once the customer hangs up, a " trouble facilities in overlapping service areas.
ticket' is printed, aiding dispatchers in Sersice reliability as well as aesthetics oce,6as e y , Una 2 ri,< tr. eu ,,, n < yu,,, i.ur,,, inen l directing repair crews. The ATCSare greatly the goals of GRU's Tree Management gnalav lew- J/," walic rrehme ww w<ane<"vsr. speeds response time, a valuable public program. As " Tree City, USA " Caulo!rorA.w w f 6 r!<""/2dlueleraa h<le her Gainesville has the densest tree canopy of ra'<' d' " a"d "at< vf
- a r <m-"r ant >l and I advantage.
any city its size in the country. In order to "o""c""" <"al4< '6< """ "'ar o n a<d all "a"d "d-Undergrounding electric facilities not only provides storm protection it con- reduce tree-related outages, and yet A amruur saar Fear 6 mFeben GRU s ar tr,"v,r<,n j tributes to the aesthetics of the communi- maintain the beauty of the tree canopy, ic ocencuch s tuc4r <a,ye!<y funny.:aam 3ay> ' ty as well. " Downtown Underground" GRU has adopted National Arborist Icw owroso".d 'mn.raveha-r!- fa meli <n i was initiated by GRU in 1986, and has Association guidelines for a directional m dw < rnhe r ctuc"% ct cmnaere r. nm - , na" In, a:< <mrleve a < N"" able is h 'r h<r I already greatly beautified the central city trimming program that helps guide tree growth away from wires. There has been " F ( \"'
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l district of Gainesville by replacing over-a 35% decrease in tree-related outages chou,,page a a ,,uy u na asr<aals,<rs a-l head wires with underground cables, and i by installing decorative and energy-effi- due to this program. n,re truc ter a GRE pu, wr r., a (,.w c4. g., <<, a,, cient street lights. In FY 93 work was cen- a uam et Asa le sblI<> m ho.6..J. we. alc ecahy e l tered around City Ilall, and soon will be yaw n!/ e, unens roy smace/r Ih< rousio cf /N r Rt ' and vIla ,onn,'m bene 4/ ~ "unlam mi. lethe (: l focused in the southwest section of the w ler ~ .a wamm ! district. l l l l t
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[b Ux's 4% e N -- 0 , 1 During FY 93, GRU's generating sys- Florida Gas Utility (FGU), a coopera- Transportation and Distribution tem achieved an all-time high peak tive purchasing organization co-founded Facilities and Services demand of 339 MW. With a capacity of by GRU, continued providing savings and Reliable, speedy service combined 448 MW, the electric system is presently environmentally-friendly natural gas to with a concem foc the beauty of our com-more than capable of meeting current both our electric and natural gas opera- munity are the public advantage in dernand while maintaining a 20% reserve tions in FY 93. Further discussion of this GRU's electric transmission and distribu-margin. now independent company can be found tion projects. GRU will begin construction of a 71 in the section on natural gas services. GRU's new Springhills Service Cen-MW natural gas / fuel oil-fired combustion Access to low-cost, environmentally- ter was occupied in the fall of 1993. This turbine at Deerhaven in October 1994, safe fuels is a necessity for GRU. In that facility will provide faster and more cost-with commercial operation scheduled for freight charges represent 42% of the cost effective service to Gainesville's growing June 1995. Special low NOX fuel bumers of coal delivered to Deerhaven, GRU has west side. As a satellite center for the will be installed for additional environ- decided to extend 21.7 miles of new rail electric system and the primary center for mental protection. The unit is being con- track in order to allow for altemative natural gas operations, it will greatly structed both to serve local customers transportation options for low-sulfur coal reduce travel time for both systems' and firm sales commianents under peak from more than one railroad company. crews. Located vext to 1-75, crews will be demand situations, and to take advantage Under existing contracts, freight charges able to reach work sites much faster, and of the high efficiency and cost savings of will be reduced 34%. As a result, the rail field transportation costs will be reduced modem unit designs. spur is expected to pay for itself in less by 30%. Protection of the environment is than five years. The route of the track Rapid response is vital in an electric always a high priority at GRU. During FY was selected for the lowest possible envi- system, especial!y in emergencies such as 94, Continuous Emissions Monitoring ronmental, social and archeological the " storm of the century" that struck Systems will be installed on all units at impact. Less than four acres of wetlands Gainesville on March 13,1993 with high Deerhaven and most units at Kelly, will be impacted, and the route was winds and scattered tornados. Gaining These state-of-the-art environmental sys- changed to avoid an archeological site. assistance from other Florida utilities tems will exceed the monitoring require- Modem safety features will be installed through mutual aid agreements, GRU ments of the federal clean air laws for at all crossings. Construction is scheduled crews worked around the clock to restore years to come. to begin in the second quarter of 1994, service. Extensive damage throughout the with completion in mid 1995 before our system required days of diligent effort, but current transportation contract expires. the public advantage found in the dedica-This rail spur has been planned and will tion of GRU crews resulted in quick ser-be constructed with the public advantage vice restoration for most customers. in mind.
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U $ L; RQ wm W l Water Services our most precious resource. GRU draws water from the aquifer ( Water, Providing necessary fresh drinking water is Gainesville's oldest to all life, is through 11 deep wells for processing at the Murphree Water Treatment Plant.
. public advantage. GRU's water and There the water is time-softened, disin-wastewater services include pumping, fccted, fluoridated and filtered prior to ,
l distribution. The 11 wells have a com-treating and delivering water, as well as collecting, treating, and the safe disposing bined capacity of 50.5 million gallons per i of wastewater. day (MGD), and the plant has a treat- } Due to the geologic structure of our ment capacity of 34 MGD. The plant l area, almost all surface water is recharged has an on-site ground storage capacity of i l into the Floridan Aquifer, a great under- 16 million gallons, plus two elevated l ground reservoir flowing through porous tanks with a combined capacity of 1.5 ; rock into the Gulf of Mexico. The i d'- million gallons. This is more than enough
.. system wellfield is protected from surface conta- to meet the needs of Gainesville's
! recognizes mination by thick, impermeable layers of growing population, even under drought clay. This aquifer is one of our area's conditions. I j and greatest treasures, and GRU treats it with care. Further downstream, where , responds to ' f reclaimed water is pumped back into the critical quifer, GRU is careful to return only i , water that meets drinking water stan- , changes, dards. As a further measure of conserva-tion and protection, GRU has developed speeding a reclaimed water reuse program that operator saves water at both ends of the cycle. l l decisions l and saving l thousands l of dollars. I l
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j a - ( t i Natural Gas Services y QQ{ff y [ u uc j a -aiMu fgidWh[& I s 1 I g yatural gas service has been part facilities needed to operate FGU. In July F i of GRU's family of public utili- 1993, FGU made the transition to a fully g% l ties since 1990.The gas system independent organization. Cooperative
.~ N serves approximately 22,000 purchasing through FGU has lowered the customers in greater Gainesville, and cost of gas to members, and has allowed about 200 customers in the city of them to maximize the use of gas through Alachua. access to the FCU gas pool. I By adding this energy source, GRU is GRU's natural gas service area covers offering its customers the cleanest source 94 square miles including metropolitan of energy available to the mass market. It Gainesville and the University of Florida, is highly efficient, and provides a low cost GRU's largest natural gas customer.
energy source for heating, cooking and As the operator, Florida Power Cor-water heating. GRU recommends natural poration has signed a 20-year agreement ' gas to customers in all cases in which it is with GRU to provide natural gas for its beneficial. planned co-generation unit at the Univer-
.. highly CRU's gas system consists of 450 sity of Florida. The 40 megawatt unit will miles of underground distribution and provide both electricity and steam heat to efficient, service lines. The gas is delivered to the the university, replacing their existing system through four points from Florida heating plant. This project will triple the and Gas Transmission Company (FGT). GRU volume of gas now being provided to the provides a eni YS " Pen access" through FGT, university from CRU, from 10 million enabling us to buy competitively priced therms to 30 million themis, and increase low cost gas on the open market at considerable CRU's total gas volume from 30 million savings to our customers. therms to 50 million therms (approxi-energy In 1989, GRU joined with four other mately). Gas transportation to the univer-source for municipal utilities to form Florida Gas sig will then represent approximately Utility (FGU) in order to best take advan- 60% # the system's total gas flow.
heating. tage of purchasing natural gas through the open access available via the FGT cooking and pipeline. Since then, the organization has water gmwn t 14 members with two full ser-vice customers. Initially, GRU and the heating. city of Homestead provided the staff and i
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q;g> ; c ( Nevertheless, GRU wishes to Construction continued on compre-Water System Number of; encourage conservation, and has there- hensive water distribution projects Customers. fore adopted a residential " inverted specifically designed to provide increased ' block" rate, which charges more for support for local firefighters. These pro- (Annual
- m - Average)f
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water use above 9,000 gallons during irri iects are adding new pipelines and hydrants, increasing flow rates, and pro-
'y' '/ -i gation seasons. ,"
In FY 93 a new software program vidiig better access to life-saving water, , , , was developed to help control costs asso- both in newly developed neighborhoods p ciated with running the wells. This pro- and older ones with systems constructed , e ii $ i*- gram aids the operatorin determining the under earlier standards. GRU is proud to ,_, , , , system's demands for the day, and in help firefighters as part of the public >, i selecting which combination of wells will advantage. i $-+ . -i ., most economically provide the flow. The The entire water system is always , , ,, program was developed as a cooperative striving for excellence in providing the es l' effort between GRU and the University public advantage, as evidenced by the of Florida. Murphree Plant's selection by the Florida During FY 93 construction began on Department of Environmental Regula-a third 15 MGD reactor / clarifier. This tion as the 'Best Operated Plant" for 10 of - - - project will ultimately increase the treat- the past 13 years. Water' System Sales 'p
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ment capacity of the Murphree Plant to .cc <> -j~ . 45 MGD, providing for the needs of the J. 9pj/ community for years to come. ~ - /~ '"f' [ . e . aQQ r
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AlQ s i 0; j i. nng d i;k.WC ' 0 Wastewater Services In the past fiscal year the Main Street Large photo: The>e W'ato Ca Jets were c:,ruructed hv CRU at Ka,uraha B unie.t! Cardens t: Jemenst<.ne GRU carefully monitors the effluent Plant operations have been optimized from our two modem wastewater facili- by the development of an anoxic (low d" f'""a ""2 'd/" #f '"Id""'d "~d2'- R ul "'"'d
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ties, as treated water from both plants oxygen) process that has signifi- ""'# '# "'"' #' " h " d " "" ' "" "d",'#* "." l
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- eventually retums to the aquifer. The .
cantly reduced the level of nitrates -
add t: the vrl:vmen of sisa:A"4 f'uh a"J r!<"nN rua ch,r I water quality standards. The Main Street operating costs. ""2"dr5 l
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- by Total Debt Service) ratios of 2.40 and notice. GRU initiated exclusive service to interchange energy sales, producing 1.96 respectively, well above that the City of Alachua in 1987. The initial $4,169,347 of net revenues.
- Series B tax exempt commercial paper saved ratepayers a total of approximately GRU is recognized as one of the best (TECP) program expired and was $38,300,000 over the life of the defeased municipal utilities in the nation and our replaced by a Series C program. The bonds with a present value savings to our continued excellence in financial perfor-
- 1 l
- Water Fiscal Year 1993 Residential Rate Comparisons
- Wastewater Charge..
- subi ect to rates and charget wastewater raus for '4 84 OlU.ANDO l'IlllIll
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- l. based on~our audit. The financial statements of Gainesville Regional Utilities as of
- 30,1993, and the results of their operations and their cash flows for the year then' ended i 'in conformity with generally accepted accounting principles.
- Our audit was made for the purpose of forming an opinion on the basic ftnancial statements of Gainesville Regional Utilities taken as a whole.The supplementary information included in the accompanying schedules is presented for purposes of.
- - - St. Petersburg Florida ,
A Davisi Monk & Company . ,
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, December 3,1993 .
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26 l
l GMNEsVILLE BEGIONAL tmLTilES Balance Sheets September 30,1993 and 19n
. ASSETS 1993 1992 1
Utility plant:
Utility plant in service.. , $ 631,297,096 - $ 621,995,096 Construction in progress . 36,122,038 15,813,695 667,419,134 637,808,791 I Less accumulated depreciation and amortization.. . (208,408,304) (194,581,219)-
Net utility plant.. . 459,010,830 443,227,572 Current assets:
Cash and short-term investments.. . . 8,574,903 9,515,564 Decommissioning reserve - Cash and investments.. , , , 1,615,876 294,913 Water pollution emergency reserve - Cash and investments . 50,000 50,000 Accounts receivable, net of allowance for uncollectible accounts of $832,800 in 1993 and $978,400 in 1992. 21,309,236 21,394,068 Prepaid expenses., 28,906 336,647 Inventories:
Fuel . . .. . 5,427,102 7,956,860 Materials and supplies . ,. 5,243,989 5,065,068 Totalcurrent assets.. , , 42,250,012 44,613,120' R:stricted assets - Cash and investments:
Utility deposits. . 3,771,766 3,299,712 Debt service fund,. , , , 58,218,667 141,593,298 Rate stabilization fund.. . 23,920,746 23,695,887 Construction fund.. . , 101,865,680 72,650,929 Utility plant improvement fund.. . 121,619 6,781,853 Tctalrestricted assets.. 187,898,478 248,021,679 Deferred charges.. 69,375,310 41,035,084 Totalassets , , , , $ 758,534,630 $ 776,897,455 t sa mmranong noen tu finaui.J surements.
l l
27
= GAINESVILLE RFL10NAL fJTILmES Balance Sheets September 30, t993 and 1992 LIABILITIES AND FUND EQUITY 1993 1992 Long-term debt and fund equity:
Long-term debt:
Utilities system revenue bonds. . . $ 396,850,000 $ 423,956,361 Utilities system commercial paper notes.. . . _ 67,761,000 69,661,000 464,611,000 493,617,361 Less unamortized bond discount.. . . (7,308,104) (9.381,533)
Totallong-term debt.. , . . 457,302.896 484,235,828 Fund equity:
Contributions in aid of construction.. 77,396,382 - 76,494,131
' Retained eamings., 180,691,699 176,838,863 Totalfund equity. . 258,088,081. 253,332,994 Totallong term debt andtimd equity. .. . . 715,390,977 737,568,822 Current liabilities:
Fuel payable.. 3,190,202 3,051,915 Accounts payable and accrued liabilities.. . 2,731,690 3,293,243 Due to other funds.. . 1,420,873 218,110 Totalcurrent liabilities.. . 7,342.765 6,563,268 Payable from restricted assets:
Utility deposits . . 3,925,474 -
3,319,194 Long-temi debt payable-current.. 3,985,000 3,705,000 l Accrued interest payable . 11,000,803 17,751,420 Construction fund:
Accounts payable and accrued liabilities.. .._., 7,072,769 1,111,834 l Due to other funds. .
1,312,936 Utility plant improvement fund:
Accounta payable and accrued liabilities.. - 1,399,645 Due to other funds. .
221,741 Totalpayable fom restricted fhnds . 25,984,046- 28,821,770 Other liabilities and deferred credits. . 9,816,842 3,943,595, Tctalliabilities and fimd equity. S 758 534,630 $ 776,897,455 See aacmpanying notes to finanaalstauments.
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i: 'CAINESVU1E REGIONAL LTHUUES - , ,, ., '
Statements of Revenue and Expense and Retained Earnings 4, .
y foqt!st years ended September 30,1993 and 1992 , . _ ,
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1993 1992- +
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' ~ . Op: rating revenue: . ~
, . s. t g M. >1 Sales and service charges'. . . . . . ~ . . . ..-.. . . . . . . . . . . . . . . . . . . ^ $ ' 150,200,896; _
- $c144,938,502, Other operating revenue . . .......c... .= . . . . .. ... . . . 11,540,761; - <1,'495,129 0 ;
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p Totalkre; rating revenue.. . ;.....r . .. . .. . . . . . . . . 0151,741,657!. v
, .s c146,433.631 : . ,
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.Operitind expenses: '
, e
' ' .i 73,624,412?
f Op'eratioriand maintenance.. . . .. ... . .. ... . . . .. . . ..i . . y3,570,7011 . ,3
, ' ( Administrative and' general'. . . . . . . . . . . . . . . . . . . (17,236,413: f16,876,57.6) 0
' Depreciation and amoitization.. .. . . .. . ...../...... .. . 220,340.707: - ' 219,396,854 J '
j
,. . , . , 6 1 -- .
Totalorerating expenses... . . . .. . . . . . . . . . . . . . . . . .. . .. . . .. . .
. 111,147,821 ' - 109,897,842i'.,
4
. Operating income ' . . . - . . .. ..... ..l.............. 140,59 ,836- .g g ,-S6,535,789; c . .
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- ~ Non-operating revenue (expense):. ~
', --Interest revenue = . . . . . . . . .. -. . . . . . . . . . . ....e........ - 14,021,9527 +
;13,629,527 ;
~
"; Interest expense... . . .
. . u .. . . . : ..- . . . . . . ~ (34,558,242); '(34,220,706) ,
,, . .. . 14 Totalnon-operating revenue (expense).: i '(20,535.290)? 1(20,591,179).[ ;;
+- < <
.,. . ~
'. Income before operating transfers.. . ,, . . . .. ... .. . . . , . . . . . . . , l20,d57,546 .
- 15,94{610i o o Operating transfer to City of Cainesville general fund.. . ... . . . . . , . ... . . . , , :(18,427,264) ,
J ('18,147,s29) - (
, . gr i J Net income (loss) . . . . . . . . . . . c. . . . . . . . - . . , . . . . . .. ;.
1,630,282 .
m : .(2,203,019)j , . ..
. . . <1 1 Retained camings, beginning of year.. . .. .. L176,838,863 l 176,719,969: ; .
JAmortization of contributions in aid of construction.. .. . . . . . . . .4., . . . . 2,222,554: '2,321,913' Retained camings, end of year.. . . . . . . . . . . . . . . . . . .. . . . ~ $ :180,691,699 -. .S.176,838.863- 3 F
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GAINESVIU.E IGGIONAl.UMmES '
Statem:nts of Cash Flow:
- for the years ended September.% 1993 and I992 r
1993 '11992:
Cash flows from operating activities: '
$ 150,892,009 $ l43,868,745
- Cash received from customers.. .
ECash payments to suppliers for goods and services.. ... . . . .(82,286,702) (69,250,857); ,
Cash payments to e'mployees for services.. . - . - . . . , .. . . - -(21,480,475) '(22,330,172):
' Cash payments for operating transactions -
l with other funds -
. . . . . . . . . 7(4,888,198)' .(3,158,862);
! ; Other operatmg receipts- 1,540,761 ~ 1,495,129 Net cash provided by operating ' activities.. . . . . , . . ... .. . . . . . . . ., 43,777,395 ' : 50,64983 < ,
- l. Cash flows from noncapi.tal financing activities: . .
Transfers to other fun'ds . .. . . . . . . . . , . . . . . . . . . .. . . .(18,427,264); (18,147,629) :,
l Net cash usedin non&tritalfnancing activities.'. . . . . . . .. . , . . .. . .(18,427,264) (18,147,629).
t l Cash flows from capitkl and related financing activities:
~
! Principal repayments on long-term debt.. .. . . . . . ... 1(187,782,761) , (64,833,900)?
l l Proceeds from sale of equipment.. . . . . . . . . . . . . . ... . . . . . . 656,967 852,737-l Interest paid on long-term debt . .. . .. . .. . . . . , . , . . . . -(59,235,430) .(30,158,940);
- Capital grants.. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . '478,719 1,298,592 ~ .]
. Acquisition and construction of fixed assets... _. .. . . . . . : (35,162,600)f ' (29,098,919) !
l Proceeds from issuance of long. term debt.. .. . .. . .. . . . : 236,485,000 - : 132,660,956 i E : Cash received for connection charges .. .. - . .a. . . ... . . .. ' 2,646,0881 - 2,728,009 j Net cash provided by (used in) capital and related financing actiyities . . . . . . . , . . . . . , , . .(21,914,017) 13,448,535 -l q
' . Cash flows from investing activities:
s Interest.. .. . . .. . .. . . . . . 8,231,525 . 7,306,299 ;
Purchase of investments. . . . . . . . . . . . . . . -(541,996,971) J (551,916,250)
Proceeds from investment maturities.. . _ . . . . , '.- . ...,... > .527,715,863 - 496,348,306-Net cash provided by (used in) inuesting activities . . . ., ... . . . . . . .. (6,049,583) (48,261,645)?
- Net increase (decrease) in cash and cash equivalents ... . . ..' .,, (2,613,469) '(2,336,756)' ,
Cash and cash equivalents, beginning of year ... . . . . . . .. . . . 9'728,800-
, 12,'065,556, Cash and cash equivalents, end of year... . . . . . . . . . . . . . . . $ 7,115,331 .$ 9,728,800 i
l _ See aaompanying rwtes to f.inancialstatements. '
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catsvun ncioNAi.imtmts St:tements of Cash Flow - , .
. - for the years ended September 30,1993 and 1992 1993 '
1992 i Rrconciliation of operating income to net cash providtd by operating activitiesi .,
Operrting income.. . . ... . .. . .. . ... . .... . . . . ... .. $ 40,593,836 ' $ 36,535,789
; Adjustments to reconcile operating income to net cash provided by operating activities: ,
Depreciation and amortization'.. . . . . . . . . . . . . . . . . . . . . . . . . ,20,340,707' 19,396,854
. Receivables .. .. . . . . .. . ..... . . . .. . .... . . . . . . . . . . . . . . . . 84,832 (1,068,783) J Prepaid expenses. .. . . . .. .. . . .. .. . . . . . . . . . . . . . . . . . . . . . . 307,741 . (17,228)-
' Inventories .. . .. , . . . . . . . .. 2,350,837 '1,410,180 Due from other funds... .... . __
2,293,475 .,
Deferred charges . . . . . .. . . .. .. . . .. . . . '(30,186,195) - (3,994,099) . -
Accounts payable and accrued liabilities..' . . . .. . . . . . . . . . . . . . . 4,138,024 - (8_7,639) , "
' Due to other funds... . .. . , . . . .. , . . . . . . . . . . . .. . . . . . .(331,914) (3,558,043)
L. Utility deposits. . . '606,280
..-... . . . . . . .. .. . . . . . . _ . . . . . . . . . - (973) < .
Other liabilities and deferred credits . , . . .. ... .
~
. .. .. . . . . . . 5,873,247 ,
-(285,550)
? Net cash provided by operating activities.'... .. ... . . ... . . ... ,. . . . ' $ 43,777,395 $ 50,623,983 i
- Noncash, Investing, Capital and Financing Activities:
'In August 1993, investments of $77,428,800 par value, ($75,029,999 book value) were used in combination with cash and new debt to defease $149,590,000 of 1983 series long-term debt.
~
~ Carh and Cash Equivalents:
. In accor' dance with the provisions of Paragraph 11, GASB Statement 9, the utility has elected to treat allinvestments, other'than repurchase agreements, as noncash equivalents.
i a
Act accompanprig tratt< to firnanc&d statemerrts.
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. ' 31 CAINESYILLE IUIlONAt imLmES Nstes to Financial Statements S&temba 303993 ail 1992
, (1) Summary of Significant Accounting Policies includes a provision for decommissioning costs related to
'(a) Organization the jointly-owned nuclear power plant (see note 4).
Gainesville Regional Utilities (GRU) is a combined . .' !
municipal utility system operating elettric, gas, water (p) Amortization of Nuclear Fuel I
^
and wastewater utilities. The cost of nuclear fuel, including estimated disposal ;
cost, is amortized to fuel expense based on the quantity l l (b) Basis of Accounting . . .
of heat produced for the generatipn of electric energy in ~ < '
GRU consists of the combined Utility Funds of the City ' relation to the quantity of heat expected to be produced -
of Gainesville, Florida (City). The financial statements over the life of the riuclear fuelcore.These costs are -
are presented on the accrual basis of accounting. Under ~ charged to customers through the fuel adjustment clause.
this basis, revenues are recognized in the period earned .
and expenses are recognized in the period incurred. In . (h) Revenue Recognition accordance with the Bond Resolution, rates are designed Revenue is recorded as camed. GRU accrues for services -
to cover debt service and other revenue requirements, tendered but unbilled which amounted to approximately '
which exclude depreciation expense and other noncash $8,057,000 and $7,154,000 for 1993 and 1992, respective-expense items. This method of rate setting results in ly. Fueladjustment tevenue is recognized based on the costs being included in the detennination of rates in actual fuel costs. Amounts charged to customers are different periods than when these costs are recognized based on estimated costs, which are adjusted monthly for financial statement purposes.The effect of these for any differences between the actual and estimated -
. differences are recognized in the determination of net costs once actual costs are known.
income in the period that they occur in accordance with .
1 GRU's accounting policies. GRU has adopted the . (i) ~ Interfund Transactions uniform system of accounts prescribed by the Federal Interfund transactions and ' contributions are generally -l Energy Regulatory Commission. Rates are approved made as required. Interfund transactions between the annually by the City Commission < l funds and fund balances of electric, gas, water and j wastewater are offset for the Combined Utility Funds.
(c) Investments interfund loans do not bear interest. Additionally, there . 1 Investments are stated at amortized cost. Premium or are inteifund transactions between GRU and general- l discount is amortized over the investment's maturity govemment operations of the City. '
based on the straight.line method which approximates .
the effective interest method. (j), Funds in Accordance With Bond Resolutions Certain restricted funds of CRU are administered in j (d) Inventories accordance with bond resolutions. These funds are as i Inventories are stated at cost using the weighted average follows:
unit cost method for materials, and the last in, first out Debt Service Fund (LIFO) method for fuel. Obsolete and unusable items are ' Subordinated Indebtedness Fund reduced to estimated salvage values.The cost of fuel Rate Stabilization Fund used for electric generation is charged to expense as Construction Fund consumed. Utility Plant improvement Fund .
The Debt Service F'md accounts for funds accumulated (c) Utility Plant to provide payment of principal and Interest on or Property and equipment are recorded at cost. ' redeem outstanding debt.
Maintenance and repairs are charged to operating The Subordinated indebtedness Fund, grouped in the expense as incurred. The average cost of depreciable Debt Service Fund for financial reporting purposes, plant retired is eliminated from the plant accounts, and acc unts for funds accumulated to pay principal and -
such costs, plus removal costs less salvage, are charged to accumulated depreciation. Interest n subordinated indebtedness.
The Rate Stabilization Fund accounts for ftmds
(/) Depreciation and Nuclear accumulated to stabilize rates over future periods Generating Plant Deconunissioning through the transfer of funds to and from Revenue' Funds
; Depreciation of utdity plant is computed using the as necessary.
straight line method over estimated service lives ranging from 6 to 50 years. Depreciation was equivalent to The Construction Fund accounts for funds accumulated .
3.07% and 2.91% of average depreciable property for for the Cost of Acquisition and Construction of the 1993 and 1992, respectively. Depreciation expense system; ,
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!CMNEsVHM REGIONM.UTHmES ~
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Netts to Financial Statements " '
4 ,
j September 30,1993 and 1992 ',
. .v .
l', . The Utility Plant Improvement Fund ac. counts for funds - (1) Deferred Charges : ,
2:
D .~used to pay for certain capital projects or debt service, iDeferred charges represe.nt costs incurred that ars to b'el the purchase of ridemption'of bondsj or otherwise' recovered from future revenue thiough the rate-making ,1 >
. provide for the payment of bonds." c process over a period usually ranging from severi to '
* ~
thirty years.: 's ,
^ '
(k) Allowance for Funds Used During Construction 1 An allcwance for interest on borrowed funds used during ; , - (m) Contritiutions in' Aid of Construction i : '
- construction of.$964,040 in 1993 and $880,000 in 1992 is Utility plant in ' service for^the water and w6steivater : ,
9 d
$ included in construction in progress and as a reduction of . funds includes assets received frem contributions in aid'
! (interest expense.;These amounts are computed by apply .' : of construction. Contributions in aid of construction are
.ing the effective interest rate on the funds borrowed to .' amortized on a straight-line method over the life of the s .c
' fmance the projicts to thd monthly balance of projects; <
related asset.The amount of amortization expinse ! _ .
under construction. The effective interest, rates were ; -included in the statement of revenue and expense and 2 approyniately 6.3% and 7.0% for 1993 and 1992; . retained eamings relatirig to the contrib'uted assets is '
respectively. : ,',
.. credited to retained earnings to reflect the transfer of this i ; 7
- amount to the related contributions accounth f 4 w , .
- - : 1
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; L(n) . Cash and Cash Equivalents , : Y L, . .
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,s : For purposes of reporting cash flows, cash and cash , ,
p -
esguiyalents include cash on hand, bank demand? ,
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- 33
. GAINESVILLE MCloNAL UnLTRES Net:s to Financial Statements
; September 30,1993 and 1992 (2) Long-Term Debt _
Long-term debt outstanding at September 30,1993 and 1992 consisted of the foUowing-1993 1992~ j Utilities System Revenue Bonds:
Series 1983 (1983 Bonds)-interest payable' semi-annuaHy to October 1,2014 at i various rates between 6.0% and 10.25%. .. ,. $ - 18,860,000 $171,020,000 l
' 1987 Series A (1987 Bonds) - interest payable semi-annually to October 1,2002 at 'l various rates between 6.2% and 6.8%. .. . -, 6.585,000 17,650,000 1
1992 Series A (1992 A Bonds)-interest payable semi-annually to October 1,2022 at various rates between 5.0% and 6.51.
73,000,000 73,000,000, j t
1992 Series B (1992 B Bonds) - interest payable semi-annuaUy to October 1,2017 at
. various rates between 6.0% and 7.51. , .
61,920,000
. . . 61,920,000 l 1
1993 Series A (1993 A Bonds)-interest payable semi annually to October 1,2006at .
various rates between 4.25% and 5.30%. , .
..... 35,180,000 - l 1993 Series B (1993 B Bonds) interest payable semi-annually to October 1,2013 at various rates between 4.0% and 5.51., . . . . . 128,795,000 -
- 1993 Series C (1993 C Bonds)- interest payable semi-annually to' October 1,1996 at various rates between 4.0% and 5.0%.. .. . . . 20,935,000 <
. Subordinated Utilities System Revenue Bonds:
Series 1989A (1989 Subordinated Bonds).. .
' 100,366,361 ~
1993 Series (1993 Subordinated Bonds)- interest payable semi-annually to April 1,1997 at various rates between 3.75% and 5.25% .. .
51,575,000 -
Utilitirs System Commercial Paper Notes, Series C (C Notes) -interest at various market rates .. ..
. . . . 67,761,000 69,661,000 464,611,000 Less unamortized bond discount.. . 493,617,361
. .. (7,308,104) '(9,381,533)
Totallong-term debt . .
.. . . . - $457,302,896 $484.235,828 '
l
34 cAlstsvuH MCIONAL UDlmES Notes to Financial Statements Septemin 3C,1993 am.' 1992 (2) Long-T. , m Debt (cenunued) Period Utilities system Subordinated Total net ending revenue utilities system debt service GRU is required to make monthly deposits into separate accounts October 1 bonds revenue bonds requirements for an amount equal to the required share of principal and interest 1994 $ 26,176,377 $ 13,057,738 $ 39,234,115 becoming payable for the revenue bonds on the payment dates of 1995 26,131,343 '16,898,503 43,029,846 April 1 and October l' 1996' 28,991,735 17,591,131 46,582,866 1997 ' 26,212,745 8,861,669 35,074,414 In March,1993, GRU issued $163,975,000 Utilities Systern 1998 26,212,940 -- 26,212,940 Revenues Bonds, Series A and B. The entire Series B Bonds in the 1999 26,207,360 - 26,207,360 amount of $128,795,000 were used to pay principal, interest and 2000 25,755,160 - 25,755,160 redemption premium on $9,650,000 of the then-outstanding 1987 2001 26,068,833 - 26,068,833 Bonds and al! $100,366,361 of the themoutstanding 1989 Series 2002 26,062,173 - 26,062,173 Subordinated Bonds; This refunding constituted a legal 2003 26,069,187 -
26,069,187 defeasance of that amount of 1987 Bonds and 1989 Subordinated 2004 25,495,837 - 25,495,837' Bonds and resulted in debt service savings of $6.5 million over the 2005 24,337,776 - 24,337,776 life of the Bonds and Subordinated Bonds and a present value sav- 2006 24,329,841 - 24,329,841 ings of approximately $5,9 million. A loss on defeasance of 2007 28,522,645 - 28,522,645 approximately $15.1 million was deferred and is being amortized 2008 30,936,400 ,
- 30,936,400 over the life of the 1987 Bonds and 1989 Subordinated Bonds, 2009 30,941,550 - 30,941,550 2010 30,934,000 - 30,934,000 -
In August,1993, GRU issued $20,935,000 Utilities System . 2011 '30,935,025 .- 30,935,025 Revenue Bonds Series 1993 C and $51,575,000 Subordinated Util~ 2012 30,930,525 - 30,930,525 ities System Revenue Bonds Series 1993. The proceeds of these 2013 30,941,725 - 30,941,725 series and amounts on hand in the Debt Service Fund were used 2014 32,218,225 - 32,218,225 to legally defease $149,590,000 of the then-outstanding 1983 2015 12,227,125 - 12,227,125 Series Bonds. This defeasance resulted in debt service savings of 2016 12,225,350 - 12,225,350
) approximately $31.8 million over the life of the defeased Bonds 2017 12,229,450 - 12,229,450 L with a present value savings of $19.4 million. A loss on . 2018 5,781,950 - 5,781,950
' defeasance of approximately $12.3 million was deferred and is 2019 5,782,650- - 5,782,650 l being amortized over the life of the 1983 Bonds. 2020 5,780,475 - 5,780,475 2021 5,784,4.50 - 5,784,450 The following table lists the Debt Service requirements on the 2022 5,782,950 - 5,782,950 -
l Long Term Bonds and Subordinated Bonds outstandmg at $650,005,802 $ _ 56,409,041_ $706,414.843 .'
September 30,1993:
l
. cmEsVHH kEGloNAMTULMEs
~ Notes to Financial Statements -
September 30, NWand Im (2) Long Term Debt (continued)' fund redemption price and interest thereon, in accordance with -l their terms and the provisions of the Subordinated Resolution, by )
Under the terms of the Bond Resolution relating to the sale of the the Subordinated Indebtedness Fund, the Subordinated Debt.
Utilities System Revenue Bonds, payment of the principal and Service Reserve Account and the Subordinated Bond Payment interest is secured by an irrevocable lien on GRU's net revenues Account which are included in the Debt Service Fund. The 1993
- (exclusive of any ftmds which may be established pursuant to the Subordinated Bonds are subordinated in all respects to bonds -
' Bond Resolution for decommissioning and certain other specified ' Hsued as first lien bonds (" Senior Lien Bonds') under the Utilities purposes), including the investments and income, if any, thereof. System Revenue Bonds Resolution. , ;
The Bond Resolution contains certain restrictions and . During October,1992, GRU issued Utilities System Commercial j
. commitments, including CRU's covenant to establish and ' Paper Notes, Series C (Series C Notes) to refinance its outstanding maintain rates and_other charges to produce revenues sufficient to Series B Notes as they matursd. Series C Notes in a principal .l pay operation and maintenance expenses, amounts required for - amount not to exceed $68,000,000 may continue to be issued to 4 deposit to the rate stabilization funds, amounts required for ' refinance _ maturing Series C Notes. Liquidity support for the - l
- deposit,in the debt service funds, and amounts required for - . Series C Notes is provided under a long-term credit agreement t y depositinto the utility plant improvement fund. dated as of October 1,1992 with Bank of America National Trust : l and Savings Association (Bank of America) and SunBank, Nation 2 :
The 1983 Bonds mature on October 1,2014. Those Bonds are al Association with Bank of America as Agent. Each bank's l subject to redemption at the option of the City on and after obligation is for $34,000,000 and is a several but not joint .j October 1,1993, as a whole at any time or in part on any interest obligation:The obligation.of a bank may be substituted by ancith J payment date, at a redemption price of 100% plus accrued er bank which meets certain credit standards and which is l interest to the date of redemption.- - approved by GRU and the Agent. Under the terms of the -
Agreement, GRU may borrow up to $68,000,000 with same day -
The 1987 Bonds and the 1993 C Bonds are not subject to redemp- availability ending on the Termination Date. Series C Notes 'of tion at the option of the City. 1,900,000 were redeemed during 1993.
4 The 1992 A Bonds mature on various dates from 1996 to 2022.
Those Bonds maturing on or after October 1,2003, amounting to (3) . Deposits and Investments
$63,730,000, are subject to redemption at the option of the City l on and after October 1,2002, as a whole at any time or in part on Deposits are held in an institution insuted by the Federal .
1 any interest payment date, at a redemption price of 102% in Depository Insurance Corporation and as required by the Utility's 2002,101% in 2003 and 100% thereafter. Bond Resolution in a bank, savings and loan association or trust 1
company of the United States or a national banking association ~!
having capital stock, surplus and undivided eamings segregated at !
1 The 1992 B Bonds mature at various dates from 2001 to 2017.
j Those Bonds maturing on or after October 1,2003 through Octo- least $10,000,000, t ber 1,2007, amounting to $14,310,000, are subject to redemption 1 "at the option of the City on and after October 1,2002, as a whole' In accordance with state laws and the Utility's Bond Resolution, at any time or in part on any interest payment date, at a GRU is authorized to invest in obligations which are unconditioni !
rede'mption price of 102% in 2002,101% in 2004 and 100% a!!y guaranteed by the United States of America or its agencies or l thereafter. The 1992 B Bonds maturing on October 1,'2017, instrumentalities, repurchase agreement obligations unconditional-amounting to $22,335,000, are subject to redemption at the ly guaranteed by the United States of America or its agencies,
. option of the City on and after October 1,2002, as a whole at ~ - corporate indebtedness, direct and general obligations of any state any tinte or in part on any interest payment date, at a redemption . of the United States of America (provided such obligations are ,
price of 100%. rated by a nationally recognized bond rating agency in'either of its two highest rating categories), public housing bonds, and certain :
The 1993 A and B Bondi mature at various dates from 1997 to certificates of deposit. Investments in corporate.mdebtedness must
- 2013cThose, Bonds maturing on or after October 1,2004, be rated in the highest rating category of a natioaally recognized amounting to $113,925,000, are subject to redemption at the rating agency and in one of the two highest utmg categories of at option of the City on and after October 1,2003las a whole at least one other nationally recognized rating agency.
- any time or in part on any interest payment date, at a redemption - _
price of 102% in 2003,101% in 2004 and 100% thereafter. Investments are categorized in the following table in accordance with Govemmental Accountisg Standards Board Statement No. 3.
The 1993 Subordinated Bonds are not subject to redemption at Category 1 includes investments that are insured or registered at
; the option of the City.They are direct ' and special obligations of . held by the Utility or its agent in GRU's naue. Catworv 2 the City secured as to the payment of the principal or sinking includes investments that are uninsured and unreg A with
, < 3
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c l36 ,
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casvtum6cNAINUyDES '
- Not:s to Financial Statements September 30,JI993 and I9n (3)f Deposits and Investments (continued) Corporation has informed GRU that'an updated' study pvill be completed in 1994 and it is anticipated that the study will sho'w a ~
securities held by the counter party's trust department or agent in significant increase in decommissioning costs. Any increase in GRU.'s name. nuclear decommissioning costs will be recovered through future
. . . Carrying - . Market . rates.
September 30,1993 value ' value Category
~
U. S. Govemment securities $107,847,785 : $112,282,961 1. As part of the 1992 National Energy Policy Act, Title'XI,' assess. .
U. S. Govemment bonds - 20,594,237 24,975,423- 1 ments were made against nuclear facilities.co set up a decommis:
Corporate commercialpaper , 62,581,904 59,502,093 '1 . sioning and decontamination fund for assessment of Energyi o Repurchase agreements .
5,665,004 - 5,665,004 2 Uranium enrichment facilities. GRU's estimated liability for its
' Total . ' 5196,688,930 o $202,425,481 i share of this assessment as of September 30,1993 is $285,000. ,
k
- September 30,1992' v value Catcaory (5) 'Contiibutions in Aid of Constructioni .
'U.S.Govemment securities J $160,098,469 $166,302,718 1 .
! U.S. Govemme'nt bonds '20,595,434 23,307,247 ; 1 Conm.buu. .ons m aid ,of construction are as follows: ,
Corporate commercial paper ' 67,459,453 67,459,453 1, 1993 4 1992-'
LRepurchase agreements.
9,308,780 9,308,780 '2 Contributions in aid of construction: '
- Total L $257,462,136' $266,378,198 . Utility)lant, protserty and equipment -
! contributsd by municipality , $ 3,982,276: . $ 3,982,274!
- J Cash and investments are contained in the following balance Federal and state grants in' aid of.
sheet accounts: constructionL ' 22,602,227 ' , 22,123,508' s 1993 '1992 Contribtitions from customers .
. Restricted assets: .and developers: . ...
~
iUtilitydeposits S -3,771',766 $ 3,299,712 ; Plant contributed by developers -
136,532,946 ; 56,196,845 , .
= Connectioncharges ' 40,789,592 38,479,609i Debt service fund 58,218,667 3 141,593,298 Rate stabilization fund 23,920,746 23,695,887 . 103,907,041 100,782,236 i
Construction fund 101,865,680 72,650,929 Accumulated amortization J6,510,659) - . (24,288,105)
Centributions in aido[construalon .$ 77,396,382 $ 76,494,131 l Utility plantimprovemert fund 121,619 6,781,853 Current assets: '(6) Retained Earnings Cash and short term investments By4,90$ 9,515,'554
! Decommissioning reserve 1,615,876 294,913 Retained camings reserved'for debt servic'e and unapprop'riated l Water pollution emergency reserve 50,000 ' 50,000 are as follows:'
l Total cash and investments 198,139,257- 257,882,156 i Less cash 1,450,327 420,020 1993 1992-
- Tctalineestments $196,688,930 $257,462136 Reserved for debt service - .$ 43,232,864 7 $120,136,878
- Unappropriated 137,458,8351 56,701,985 l(4) Jointly Owned Electric Plant Totalraainedearnings .$180,691,699 $176,838,86g .
.p
[
, GRU-owned resources for supplying electric power and energy.- Retained eamings balances at Septembet 30,1993 and 1992 i requirements include its 1.4079% undivided ownership interest . <
reserved in debt service fund accounts are as follows:- # '
in the Crystal River Unit 3 (CR3) nuclear power plant operated by -
Florida Power Corporation. CR3 operation and maintenance 1993 -1992
' costs, which represent GRU's part of expenses attributable to Reserve account _ $ 38,158,694 ' : $ 43,349,614 -
operation of CR3, are recorde'd in accordance with the Debt service account 19,664,937 27,415,582 instructions as set forth in the Uniform System of Accounts . Subordinated bond p,ayment account -
15,550,305 l Payments are made io Florida Power Corporation in accordance . - Subordinated indebtedness fund account 358,000' , 431,165' I
with the CR3 participation agreement.. Bond amortization account - - z ' 64,815,799; Commercial paper note payment' account . 37,036 , 30,833:
, GRU, as a part of this participation agreement, is responsible for - 58,218,667 7 141,593,298 l its share of certain future decommissioning costs. Decommission-
' Less amounts appropriated for current ing costs are funded and expensed annually and are recovered interest and principal payable 14,985,803 21,456,420 through rates charged to customers. The most recent decom- ' $ 43,232,864 ' $120,136,878 missioningcost estimates provided by Florida Power Corporation . P in September 1991, estimated GRU's chare of total future decom. The Reserve account is funded by the. initial dq! posit from bond .
Imissioning costs to be $41 million in'1991 dollars. Florida Power . Proceeds. ,
L ,
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- _ .2 , 4 ..-- >~ '
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37 4
GAINEsvlLLE RfCloNAL tmLMES Notes to Financial Statements September 30,1993 and 1992 (7) Retirement Plans The remaining balance in deferred charges is comprised of bond issuance costs of approximately $39,500,000, environntental costs The City sponsors and administers one retirement plan and one of $5,075,000 (see Note 10), and other miscellaneous items, all of
' deferred compensation plan that includes GRU and other City which are being amortized over periods from 7 to 30 years.
employees.
(10) Environmental Liabilities The General Employees Pension Plan (Employees Plan), a defined benefit, primary contributory pension plan, covers all employees The System is subject to numerous Federal and state air, water of GRU, except certain personnel who elect to participate only in and ground environmental regulations. Under the the Deferred Compensation Plan. Comprehensive Environmental Response Compensation and Lia-bihty Act, commonly known as "Superfund,' the System has The City accounts for and funds the costs of the Employees Plan been named as a potentially responsible party at two hazardous as they accrue. Such costs are based on contribution rates waste sites. In addition, in January 1990, the System purchased determined by the most recent actuarial valuation. The total the natural gas distribution assets of a company and pursuant to contributions by CRU, including amortization of prior service the related purchase agreement, assumed responsibility for the costs, for the years ended September 30,1993 and 1992 were investigation and remediation,if necessary, of environmental
$1,132,928 and $1,139,194, respectively. impacts related to the operation of the former manufactured gas I plant. Based upon the System's analysis of the cost to clean-up i in the opinion of the City of Gainesville, GRU has no obligation these sites, the System has accrued a liability of $5,075,000 at for any unfunded past service or other cost of the pension fund in September 30,1993. Because the System anticipates recovering excess of required annual contributions. the costs of environmental clean-up through future customer rates, a related asset of equal amount has been reflected as a Certain employees are eligible to participate in a defined deferred charge in the accompanying balance sheet. Although contribution deferred compensation plan managed by the uncertainties associated with environmental assessment and Intemational City Management Association as fiscal agent for the remediation activities remain, GRU believes that additional costs, ,
City. Under this plan, the City contributes 6% of an employee's if any, will not have a materialadverse effect on the System's annual salary and employees may contribute either a specified financial position.
percentage or dollar amount. Total deferred compensation cost for GRU for the years ended September 30,1993 and 1992 was
$226,066 and $216,418, respectively.
(8) Transfers to General Fund GRU makes transfers to the City's general govemment based on a formula that ties the transfer directly to the profitability of the system. The transfer to the general fund may be made only to the f extent such monies are not necessary to pay debt service on the outstanding bonds and subordinated debt or to make other neces-sary transfers under the Resolution. The formula-based fund transfer to the general fund for the years ended September 30, 1993 and 1992 was $18,427,264 and $18,147,629, respectively.
(9) Deferred Charges
! ncluded I in deferred charges is the unamortized balance of
$17,903,366, remaining of the original payment of $27,375,000, in full settlement in connection with the City's cancellation of a contract for supply of coal to Deerhaven 11 generating plant. The settlement payment is being recovered through future utility fuel adjustment revenue through the year 2003.
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% : 39, I CAlmSWH PiCIONAL UTU.mf$ .
, ;l D Schidules of Combined Net Revenues in Accordance with Bond Resolution-
'for the years ended September 30,1993 and 1992, t9% 1990 and 1939 '
1993 1992- 1991 1990 1989 i Revenues: -
l Electric fund: -
l - Sales of Electricityc. . . . . .. . .. . . .. . .. $114,512,609 $111,038,685 $114,589,417 ' $110,024,263 $ 99,922,883 l Other electric revenues . . .... ....... . . .. ..... 86,768 2,207,003 ' ,(107,510) (527,726) ~ 1,647,656 : ,
l- ' Interest income .. .......... ... . ... ... . . .. . . . . . 3,574.721 4.144,601- -4,419,127 4,815.098 4,995,756_ ;
I ~ Total electric fund revenues .., .... .....-. . ...... . . 118,174,098 117,390,289 118,901.034 114,311.635 106,566,295 ,
Gas fund: . .
Gas sales... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,001,918 13,699,974 t 11,987,296 8,632,123 ' .-
,, Other gas revenues..-.. . .. . . . .. . .. . . . . 322,367 (772,722). 809,338 (1,611,307)- -
Interest income . .-. .. . : .. . . . . .. .. . . . . 132,321 216,390 < 335,312 1,324,210 . '- j
' ' Totalgas fund revenues . . . . . . . . . . . . . . ... 14,456,606 13,143,642 13,131.946 8.345,026 -
J Water fund:_ . - _
Sales of water.. . . ... .. .. .. . . . .. . . 9,614,673 - 8,760,162 7,943,974 7,989,118 7,492,051 '1
- Other water revenues . . . . .. . . . . . . . (82,058) ^ 1,136,877 1,236,783 1,471,167y '1,589,085.,:
L Interest income.. . . . . . . . . . . . . . .. 515,456 631,586 ' 942,243'
- 528,693 1,153,248 i L j Total water fund revenues'.,.
~
. . . . . . . . . . .. . . . ... 10,048,071 10,528,625 10,123,000 -9,988,978' 10,234,384 Wastewater fund: .. . .
1 Wastewater billings.... . . . . . . . . .. . . 12,071,696, 11,391,098 ;10,542,730. 10,306,888- .9,489,697:
- Other wastewater revenues . . 1,336,617' 1,064,213 '1,637,868 i 588,674 , . -(9,744)
! ' Interest income... .. .. . . ' 746,908- > 1,029,095 ' 1.620.348- 1,336,251 '1,900,6_26 L 4 Total wastewater funIl revenues . .... . . ... . 14,155,221 .. . .
.. 13,484,406 13,800,946 12,231,813 - 11,380,579 '"
Total revennes.. .. . . . . . . . . . . . . . . 156,833,996 154,546,962 155,956,926 144,877,452 _128,181,258
' ' Operrtha and maintenance and expenses:
Electric fund: . .
- Fuel expense . . . .. . . . . . . . . . . . . , , 39,538,397 39,243,116 - 41,119,401
- 39,049,188 - 36,208,675 l, Operation and maintenance . . . . .. . :16,985,123 17,969,1801 17,420,206 ; 16,336,485 ~ f12,691,3321 c . Administrative and general., ... . ... . _11,661,891 10,805,109- 10,869,786 11,339,379 13,244=443 L . ' Total electric fund expense . . .. . . . . . . 68,185,4 t 1 6810_17,405- 69,409,393 66,725,052' 62,144,450;
' Gas fund:.
Fuel expense .... . . . . . . . . . .. . .. . . . . . . . '8,661,062 7,537,660 >7,202,885 ' 5 ) 33,828 ~ -
Operation and maintenance . .. . . . . ' 997,135 940,888 880,649 555,631- ,
- Administrative and general... . . . . .. . 1,647,212 1,676,115 ' 2,097,519- -1.305,900 - -
! Totalgasfhndexrense.. . . . . . . ... .. . .. 11,305,409 10,154,663 10.181,053 :7,295,359 -
Water fund:
Operation and maintenance. . . 3,159,941. .3,365,799 3,067,570 3,156,677 2,755,419 .
Administrative and general., .. . .. . . . . 1,703,141 :1,903,304 1,677,080 - -1,847.371 -2,047,026 i ; Total water fund expense.. . .. . . . . .. . . . ... 4,863,082- 5.269,103 '4,744,650' 5,004,048 4,802,445 l Wastewater fund:
; Operation and maintenance . . .. . ...... 4,229,044' 4,567,768- 4,354,509' 4,035,949 3,255,397;.
Administrative and g'eneral., . . .. . .. 2,224,168 2,492,048, 2,379.496 2,407,654 2,841,943
! - Totalwastewaterfund exrense.. . . . . . . ., 6.453,212 ~ 7,059,816 ~ < 6,734,005 6,443,603- 6,097,340 .
- Totaloperation and maintenance expenses.. .. . . . 90,807.114 90,500,987 91,069,101 85,468,062 73.044,235' l .
Net rev:nues in accordance with bond t resoluthn: -
Electric . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49,988,687; 49,372,884 : 49A91,641 47,586,583: : 44,421,845 -
l Gas.. .. ... . . - . . ... . . . .. ... .. 3,151,197 2,988,979 - 2,950,893 11,049,667 .
l Wa ter a .. .... . .. .. . . . .. . . . .5,184,989' 5,259,522 5,378,350 .4,984,930 5,131,939 :
Wastewater . ..... .. . . . . ... . .. .. . 7,702,009 '6,424,590- 7,066,941 5,788,210 5,2 8,239
. Net revenues before interest income ~ .
from sinking fund . .. .. .. ._... . ... . .... . 66,026,882 . 64,045,975 64,887,825 '59,409,390; f 55,137,023_
Interest income from sinking fund., ... .. ... . - 414,071- 833,956 ' 870,608 ~ ' 703,214 J
< 17'oralnet revenues in accordance with bond resolution $ 66,026,882 . $ 64,460,046 $ 65,721,781- $ 60 279,998
_ x ' $ 55,840,237
- ' Aggregate bond debt service.. . . . . ... . . . . $ 27,510,97.6 - $ 26,131,184 $ 26,756,070 $ 19,664.790 ; $_17,939,790
- ; Aggregate debt service coverage ratio. . . . .. . 2.40 ' 2.47 2.46- - 3.07 f 3.11
- Total debt service .. .. ... - .- . . ... . .. $ 33,679,868. $ 33,8652 283 $ 35,641,221. $: 26,556,817, = $ 24,439,236 a Total debt service coverage ratio.. . . . . . . . . . 1.96 1.90 1.84~ , 2.27 - 2,.28
- , - -t g e 5 4 -4s --.%.
- - ^. .
, 49;- ,
I cAINESVIU1 REC!ONAL tmUTES .
Sch:dules of Net Revenues in Accordance With Bond Resolution -
El:ctric Utility Fund. '
l for the years ended September 30,1993 and 1992 ,
~ ~
1993 1992 Revenum i' Sales of electricity:
Re sid e n tial sale s . . . . . ... . . . .... . . .. . .. .'.. . . . ... .. . . . .. .. . . . . . . . . . . . . . . .. . . .. . . . .. . . . . . . . . . . . .. . $ 47,859,388.- $ 44,544,359' ,
. General service and large power.... . .... -.... .... . .. .. . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44,833,703 L - 42,769,822 l ,
, : Fuel adjustment ........... .. .. .... .. . . . . .. . . . . . . . . . . ..... .. .... . . . . . . . . . . . . . . . . . . . . . . . . . .1,755,192 (276,206)- ,
Street and traffic lighting .. . . ... .....- . ... . ... .... .. ..... . . . . .... . . . . . . . . . . . . . . . . 2,146,754 -2,055,284' Utility surcharge . ..;.l... .. .. ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,283,653 ' 2,508,034- ,'
Sales for resale .... . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,015,862 24,884,965 Interchange sa!c:: . . . . . . . . . . . . . . . . . . . . . .. .. . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . 210,618,057, 14,552,427
~
114,512,609- ' 111,d38,685 -
[ Total sales ofelectricity .' . ..... .... .... ... . . ......... ....... .... . . . . . - . . . . . . . . . , . . . . .
l Other revenue:
; Transfers from (to) rate stabilization.. . . .. . .. ... . .. . . . . . . . . . . . . . . . . . . . . . '-(1,332,746). 814,841 i ' ' Service charges.. ' . .. . ... . . ... . . . .. . . . ... . . . . . . . . . . . . . . . . . . . . . . . 1,119,934 896,035 l . Pole rentals..... . . . . . . . . . . . ... . . . .. . .. . . . ..... . . . . . . . . . . . . . . . 134,700 132,990.
l ; Miscellaneous .. . . . . . . . . . . .. . .- . . . . . . . . . . . . . . . . . . . - 164,880 t -363,137,
- i. <
[
! Total other revenue . .. .. .. . . . . . . . . . . ... . . . . . ..
. . . . . . . . . . . . . . . . . . . . . . . . . 86,768- '2,207,003-Interest income...-.. ... . . . . .. . ... .
. . . . . . . . . . . . . . . . . . . . . . . 3,574,721 4,144,601 L Totalrevenue.. . .. . . . . . . . . . . . .. .. ... ... . . . . . . . . . . . .. .. . . . . . . . . . . . . . . . . . 118,174,098 117,390,289
[ Oper1 tion and maintenance expense: .
Operation and maintenance: 4 l- ' Fuelexpense: , .
, Retail and purchased power..... . . .. .. . . . . .. . .. .. .. . . . . . . . . . . . . 33,089,587' . 31,328,804-Interchange... . . . . . . . . . . . . . .. ... .. . .. . ... . . . . . . . . . . . . . . . . . . . . . . . . 6,448,710 7,914,312
' Total @elexpense- . . . . . . . . . .. . .. . . .. . .. . . . . . . . . . . . . . . . . . . . . . . . . . . 39,538,397 < 39,243,116 Power production.. . . . . . . . . . . .. ..... . .. . . . ... . . . . . . .. . . . . . . . . . . . 11,907,526 12,467,368 L Transmission . . . . . . . . .. .. . . . . . . . . .. . . ... . . .. . . . . . . . . . . . . . . 606,516 563,912 .
Distribution . . . . . . . . . . . .. .. . .. . .. . . . . . . . . . . . . . . . . . . . . '4,471,081 _4,937,900 '
[ Totaloperation and maintenance.. . ... , . . . . . . . . . . . . . .. . . . . .. . . . . . . . ~ 56,523,520 57,212,296 1
, Administrative and general. _
.i
- Customer accounts.. . - . ... . .. ... . . . . .. .. . . . . . . . . . . . . . 2,665,702 .2,433,487c j Administrative and general . ... .. . . . . . . . . . ... .. . . . . , , . . . . . . . . 8,996,189_ 8,371,622 _;
i
. Totaladministrative andgeneral;... . . . . . . .. .. . .. .. .. . . . . . . . . . . . . - 11,661,891 10,805,109
- Total operation and maintenance expense.. ... . .. . .. . . .. . . . . . . . . . . . . 68,185,'411- 68,017,405 ~
Net revenue in accordance with bond resolution:
Retail... . . . . . . . . . . . . . . ..... . ... .. ... .. .. . ... . . . . . . . . . . .. -45,819,340 42,734,769 I Interchange.. . . .. . . . . . . . . . . .. . . . ... . . . . . . . . . . . . . . . . . . . 4,169,347 6,638,115 -
l Net revenue before interest income from sinking fund. . .. . . .. . .. . . . . . . . . . . , .
I 49,988,687 . 49,372,884 Interest income from sinking ftmd.... . . . . . . . .. . . . . . . . . . . . -. 363,766
; Total tret revenue in accordance with bond resolution.. . .. . . .. ... . . . . . . ... . $ 49,988,687 $ 49,736,650 -l ISee ,,cte e,t psge 43.
7 .c . * - - n w -
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l .- GAINESVILLE REClONA! UTILmES
" Schedules of Net Revenues in' Accordance With Bond Resolution 1 Gas Utility Fund
~
. for the years ended September 30, t993 and 1992 1993- 1992' .,
l ' Revenue: -
[ '.
L Sales o. f gas: ' l
- Res iden tial ...... . ........ ... ..... ......... ..... . ..... .... . . . . . . . . . . ... . .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ' $ - 6,213,120' $ 5,693,762 In te rru ptible/ comme rcial ... ..... . ... ...-.,. . .. .. . . . . . ... .. . ........... .. .. . .. ... ..... ... . ... . 7,724,666.. 17,860,157- l Other sales . . ..... ... .. . . . . . - . . . . . . . . . .. . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . - . . . . . . . . . . 64,1321 146,055_
l~
l Total sales ofgas .. .. ... ... .... . .. . .. "..
. . . . . . . . . . . . ... ... .... . . . . . . . . . . . . . . .. ... .... 14,001,918 -
13,699,974 ,
1 Other revenue:
Transfers from (to) rate stabilization . ... . , ... . :...................... ,
273,659 -(855,531),
L l Net income - jobbing . ... .. . .. . ... .. ... ... ... .. . . . . . ... . . . . . .. . ... . .. ... .. 43,544' -
73,329-i . Service charge ...... .. .. ..... . . .. . . ...... . . . . . . . . . . .. . .. ... . . . . . . . . . . . . . . . . . . . . '5,164 ' '
9,480-I j .'. Total other revenue .. . .. ...... . . . . . .. ..... ...... .. . . . . . .. . . . . . . . . . . . . :322,367- - (772,722) ~
p _
I t
Interest income.. .. .. .. .. .. ..... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132,321 216,3901 l Totalsevenue.. . . . . . . . ... . ...... . . . , .. . .
... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . _ 14,456,606 L 13,143,642
, , ia l : Operatlin and maintenance expense:
l' - Operation and. maintenance:
~ Fuel expense .... . ... . .... . ....... . .. ... . .. . . .. . . . . . . . . . . .... . ... . . . . . . . . .. ' 8,661,062' '7,537,660 Operation and maintenance .. . . . . ... .. . . ... . . . . . . . . . . . . . .... . . . . . . . . . . . . . . . . . . 997,135 940,888 Totalopration andmaintenance . . . .. .. . ... . . . . . .. . . . . ... .. .. . . . . . . . . . . . . . . . . . . . . 9,658,197: , -8,478,548 l.
L Administrative and generah'
( Customer accounts.... ...... . . . . . . . .. . ............................... .-719,528 639,094 2 ,
; Administrative and general. . . . .. ... .. . .. .. .. . . ....... .. . . . . . . . . . . . . . . . . . . . . . 927,684 ~ 1,037,021 .
Totaladministrative andgeneral... .. . .... .... .. ... ... ......... .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,647,212 1,676,115 ,
1
- Totalopration and maintenance expnse.... . .......... ...... .. . . . . . .... . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,305,409 10,154,663- ,
.4 1
Total net revenue in accordance with bond resolution..... .. . .... . .. . . . . . . . . . . . . . . . . . . . . . . $ - 3,151,197 $ - 2 988,979 i; '
l
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42 casvun ucsew.ttrumts ..
fcheduiss of Net Revenues in Accordance With Bond Resolution -
Wcter Utility Fund -
for the years ended September 30, I993 and 1992 1993 1992 Revenue:
Sales of waten =
- General customers .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ .7,444,147- . $ . 6,637,031 ;
. Unive rsity o f Flo rida ...... ..... . . .... ... .... . . .......... .. .. ...... . . ...... .. .. . ... . . ..... .. .. ...;..... 592,302 - '
610,684 Fire p ro tectio n . . .. . . . . . . .. . . . . . .. . . .. ... . . . .. .. .. .. . .... .. .. .. . . . ... . . .. . .. . .. .. . . .. .. .... .. ... ... .. 844,915_- 759,599 .
. G e n era ting s ta tio ns . . . .. . . .. .. . . . . . .. .. . . .. .. .. . . . . . . .. . . . .. . ... .. . . . ... .. ... ... .. . .. . .. . .. . . .. . .. . . .. . . . . : 61,312 .; 81,461- ,
Utility surcharge ...... .. .. ... . . . ...... ..... . . . .. . . ... . ....... . . .. ................... 671,997 671,387-9,614,673 ' -8,760,162-
- Total sales of water.. . .. ...... . . . . . .. ...... . ..... . . . ... . ..
i
' Other revenue:
' Transfers from (to) rate stabilization .... . . .. .. . . . .. .. ... .. . . . ... . . ..... . ............. (1,'074,067) -312,477
^
Connection charges..... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 953,984- 761,544 Miscellaneous .'... ...... .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38,025' 62,8561 ,
j Totalother revenue.. . . . . . . . . . . . . . . . . . . . .... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(82,058). .
1,136,877-Interest income.. .. ....... ..... . . . .. . . . . . . ........................................ 515,456 :631,586 Total revenue.. ... .. .. . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10,048,071 10,528,625 ;
LOperttizn and maintenance expense:
Operation and maintenancei , .
Source of supply .. ...... . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,572 2,856.
' Pum p ing .. . . . .. . . . .. . . .. . . . . . . . . . . . . . . .. . . . . .. . . . . . . .. . . . . . . . . . . . . . . '882,623 835,174.
Water treatment . ..... . . .. . ..... . . .......... .... .... . . . . . . . . . . . . . . . . . . . . . 1,394,664 '1,515,649 Transmission and distribution ..... . .. . . . . . . . . . . . . . . . . . ................................ 879,082 1,012,120 Totaloperatton and maintenance... . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,159,941; 3,365,799 ddministrative and generah .
Customer accounts..... .. . .. .. . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .476,651 539,005-
" 1,226,490 1,364,299_'
Administrative and general ... . ... . .... . .. . ... . ... ..... .. .. . . ... . ... .. . ., ... ..... ... ...
LTotaladministrative andgeneral... ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -1,703,141 1,903,304 4,863,082 I 5,269,103
. Total operation and maintenance expense... .. .. . ..... . .... .... . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Net revenue before interest income from sinking fimd ...... ... ... .. .... .. . . .. . .. ... . . . . . . . 5,184,989.. 5,259,522 1-L Interest income from sinking fund..... . .. ... . .. .. ........ . . . .. .. .. .. . . . .. ...... .. . . . . ... -- -25,283-
.. Total net revenue in accordance with bond reschstion..... .. . .. . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . $ 5,184,989 SY 5,284,805
; See note on page 41 .
e
!4
. . . . . - _ - - . . , ~ - . - , - . - . -
.- _r. . . - - _ . . . . .. _
'43 t
GA!NESVILt.E REGIONAL LTRLWES Schedules of Net Revenues in Accordance With Bond Resolution -
- Wastewater Utility Fund -
. for the years ended Septernber 30,1993 an d 1992
, 1993 1992
' Revenus:
. Wastewater billings:
Billings....................................................................................... $ 11,213,944 $ 10,458,284 ,
. U tility su rcharge . ... . .... .... . . .. . . . . . . ..... ..... .. ... . . . . ... ... . . .. ... ....... . . .. . . . . . .. . . 857,752 932,814 Total wastewater hillings . .... .. ... ...... .. . . . . .. . . . . . . . .. .. . . . .. . ...... .... . . . ..... .. ..... . . .. . 12,071,696 11,391,098 Other revenue:
Transfers from (to) rate stabilization.. .. .. .. .. .......... . .. . . . . . . . . . . . . . . . . . . . . (53,896)_ 35,922 Connection charges.. .. . . . . . . . . . . . . . . . . . . .. .. ................. 1,355,999 1,022,407' Miscellaneous . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,514' '5,884 .
Total other revenue .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,336,617; 1,064,213 Interest income.. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 746,908; 1,029,095 Total revenue... . . . . . . . . . . . . . . . . . . . . . . . . . . .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,155,221- 13,484,406; Open. tion and maintenance expense:
Operation and maintenance:
Collection.. .... .. ... . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . 893,351 ' 994,896[
Treatment and pumping .... . . - . . . . . . . . . . . . ... . . . . . . . . . . . . . . . . . . . . . 3,335,693- 3,572,872 .
. Totaloperation arulniaintenance.. .. .... . . ,. . . . . . . . , . . . . . . . . . . . . . . . . . . . .. . 4,229,044 : 4,567,768 Administrative and general: .
Customer accounts... . ... . . . . . . . .. . .. . . . . . . . . . . . . . . . . . . . . . . . . . 328,716 ;455,786 c Administrative and general.. . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,895,452 2,036,262
.Totaladministrative andgeneral...... .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.224,168 2,492,048 Total operation and maintenance expense... .. .. . .. . .. ... .. .. ... .. .. . . .... . . . . . . . . . . . 6,453,212 7,059,816 P
Net revenue before interest income from sinking fund. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,702,009 6,424,590 LInterest income from sinking fund.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25,022 '
Total net revenue in accordance witis bond resolution.... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,702,009 $ 6,449,612 See note behw.
Notes l ." Net revenues in accordance with bond resolution" differs from
- Operation and maintenance expenses do not include
' Net income" which is determined in accordance with generally depreciation, amortizauon, or mterest expense, accepted accounting principles. Following are the' more significant -
z i differences:
- Other water and wastewater revenues include fees fo.r
- l. connecuon, installation, front footage, and backflow ' ..
l ) Interest income does not include interest camed on construction prevention.
< funds and on certain debt service accounts which can only be
- Transfers to the general fund are excluded.
used for certain restricted purposes.
l_,
- Other revenues include transfers (to) from the rate; j stabilization fund.-
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GAINESVILLE REGIOblAl.UTI!JUES
-Schedules of Combining Balance Sheet -
September 30,1993 .
,; ASSETS Electric s Gas Water . Wastewater : Combined _
._ Utility planti-
. Utility plant in service .. . . .. ..... .. . . .. . ... $408,946,197 . $ 22,490,371
$ 80,870,557 ~ '$118,989,971 $631,297,096..
Construction in progress.. .. . ......... .. ... 22,628,101: 1,031,718 '6,102,236 6,359,983 '36,122,038i 431,574,298. 23,522,089 ' 86,972,793. 125,349,954. 667,419,134
-I.ess accumulated depreciation . -
(9,340,145)- (26,238,592) ,(34,192,334)- '(208,408,304)
I and amortizat%n........ . . .. . .. ....... ..... .(138,637,233) 4
. Net utnity r/ ant.. . .. . .... . .... . . ... ... ... . . . . . .. 292,937,065 14,181,944 -60,734,201- 91,157,620 459,010,830
.c
' Current assets Cash and short-term investments .... . . . 146,237, > 558,362. ;3,282,020; .4,588,284: ;8,574,903 .
Decormnissioning reserve ~ - .
- f. .
Cash and investments . .. . . . . . . . . .1,615,876 ' -' .-.. -. ;1,615,876" Water pollution emergency reserve.- .
Cash and investments .. . . . . . . . . . . . ..-L .
s
- ' 150,000' s
> ,50,000
" : 21,309,236 - -
' Accounts receivable, net.~. . . . . . . . . . . ' . . 18,707,704 .1,290,699' 630,947 . 679,886-Prepaid expenses . ... ~ . . . . . . . L7,168 ' 21l738 .
- - 28,906i Inventorks:
Fuel ..... .. .. . . . . . . . . . . . . . . . . . . . 5,'427,102. .
5,427,102
' Materials and supplies.. . . . . . . . . . . . . . . . 4,099,898 209,354 934,737 .- '5,243,989
" Total current assets .. .. . . . . . . .. . . . . . . . . . 30,003,985 2,080,153 L 4,897,704_ -5,268,170 42,250.012 Restricted assets:
Utility deposits -
Cash and investments . ... . .. . . . . . . . . 3,771,766 - < ~
- - 3,771,766:
Debt service fund -
Cash and investments . .. . . . . . . ... . 41,845,368 3,239,757. 6,130,832 ~ 7,002,710 - 58,218,667 Rate stabilization fund -
Cash and investments . ... . ....... .. . . 7,610,997 2,222,945 3,762,797 10,324,007 23,920,746L Construction fund - . . .
Cash and investments . . . . . . . . . . . . . . . . 76,538,482 1,774,135- -12,867,581 110,685,482 101,865,680
- Utility plant improvement fund -
Cash and investments . . .. .. . . . . .. ., . 97,513 4,160 10,034- 9,912' 121,619 Tota / restrictedassets .. . . . . . . . . . . . . . . . . . 129,864,126. 7,240,997. + 22,771,244 28,022,111- 187,898,'478 Deferrad charges ~.. . ...... .. .... . . .. . . . . . 53,059,565' T6,982,735 4,326,105: 5,006,905 - 69,375,310-
. . Total assets... . ... . . . . . . . . . . . . . . . . . . . . . . $505,864,741 ' $ ' 30,485,829 $ 92,729,254 $129,454 8_06 2 $758,534,630 >
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l - 45 GAINESVillE PJGION UntIDES '
LSchidules of Combining Balance Sheet
- Scytember30, t993 LIABILITIES AND FUND EQUITY ,
Electric Gas Water Wastewater Combined l Long t:rtu debt and fund equity: <
l Long tenn debt:
L Utilities system revenue bonds . . .. .. . . . $280,547,342 $ 22,317,556 $ 42,184,392. $ 51,800,710 $396,850,000 -
L Utilities syste'm commercial
! paper notes.. . ... . . .... . , . .. .. 51,513,287 - . 5,660,439 10,537,274 67,"61,000
- j. I.ess unamortized bond discount.. . . . . .(4,751,263) (463.g (962,541). (1,111,145); _ (7,308,104) .
Totallong-term debt... ... . . . . .. . . . . 327,309,366-- 21.834,401 '46,882.290' 61,276,'8 39- 457,302,896' Fund equity: .
Contributionin aid of
- j. co'nstruction'. .. .. .. . . . .. . . . . . .
- - 26,582,610 '50,813,772- 77,396,382 l Retained eamings.. . .. .. . . .. . . . 160,157,055 282,110 11,406,855 8,845,679 180,691,699 Totalfund equity . ... . ... .... .. . . .. 160,15j',055 282,110 37,989,465 59,659,451 258,088,081 Totallong-term debt and
;fimd equity. . .......... . . . 487,466,421- 22,116,511 84,871,755 'S20,9'36,290 4 715,390,977 ~
Curtznt liabilities: . .
L Fuels payable . .
. .. .. ... .. 2,636,199 554,003 - :- 3,190',202; Accounts payable and accrued liabilities... . . . . . , . 1,817,985 199,597 . 388,374 325,734 2 731,690 Due to (from) other funds..... . ... (9,947,891) -1,313,787 4,563.598' 5,491,379 1.420,873 i'
l Totalcurrentliabilities.. .. . ... . . . . . (5,493,707) 2,067,38f 4,951,972 5,817,113 ' _ 7,342,765
( Pay:.blifrom restricted assets: '
- Utility deposits.... . . . .. . . .
3,910,353 15,121 3,925,474 l Long-term debt payable, current... .... . . .. 2,637,981 355,872 371,297 619,850 3,985,000-
, Accrued interest payable.. . .. .. . . . 7,182,019 723,519 , 1.388,451 1,706,814 11,000,803 L Construction fund -
, Accounts payable and
- i. accrued liabilities .. .. . . . ..... . .. . 6,243,235 101,241 299,114 -429,179 .-7,072,769 .
l Utility plant improvement fund:
j- Accounts payable and .
L ' accrued liabilities .. . . . ... . . .
Due to (from) other funds . . .. .. .. . . . 866,753 (831,394) '507,941 - (543,300)- -
Totalrayable from restrictedassets . . . . . . 20,840,341 ' 364,359 - 2,566,803 2,212,543- 25,984,046-l ". . .
! Othtr liabilities and deferred credits a . . 3,051,686 5,937,572 . 338,724 488,860- 9,816,842 i.
l Totalliabilities and fund equity . . ... .. . . . . . .. $505,864,741 $ 30,485,829 S 92,729,254 ^ $129,454,806 ' $758,534,630:
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46 CALNESVILLE RICIONAL[fRLrnES Schedules of Combining Statement of Revenue and Expense and Retained Earnings for the year ended Ser>tember 30, t 993 Electric Gas - Water Wastewater Combined ~
Oper: ting revenue: .
Sales and service charges .. .. .. .. ..... ... ... .. $114,512,609 - $ 14,001,918 $ 9,614,673 $ 12,071,696 $150,200,896 Other operating revenue......... .... .... .......... 1,419,514 48,708 38,025 34,514' 1,540,761 Total o;>erating revenue... .. . .. ......... .. ...... 115,932,123 14,050,626. 9,652,698 12,106,210 151,741,657 1
' Operiting expenses:
Operatiom and maintenance...... .......... . ... 56,523,519 . 9,658,197 3,159,941 4,229,044 - 73,570,701 Administrative and general.... ........ ... . .. . -11,661,892 1,647,212 1,703,141 2,224,168 17,236,413 Depreciation and amortization..... . ..... . .... 14,360,276 883,289 1,928,321 3,168,821 20,340,707
~
Tot.iloperating exfynses.-. . . . . . . . . . . . . . . . . . . . . . . . . 82,545,687' 12,188,698 6,791,403 9,622,033 111,147,821 Oper: ting Income.... . . . . . . . . . . . . . . . . . . .
33,386,436' 1,861,928 ' 2,861,295 2,484,177. 40,593,836
- N:n-operating revenue (expense): .
Interest revenue.. . . . . . . . . . . . . . . . . . . . . . 10,664,335 237,267- 1,599,225; . 1,521,125 .14,021,952 Inte rest expense . .a.... ... ..... ... .. . .. .. ... (25,374,001) (1,591,237) (3,423,266) -(4,169,738) (34,558,2J2) ~
Totalnon-opvrating reunne _
(exp>ense) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (14,709,666J (1,353,970) (1,824,041) ~ (2,648,613) (20,536,290)
Income (loss) before operating transfers..... ..... .. .... . ... . . . . 18,676,770' 507,958 1,037,254 '(164,436) 20,057,546
- Operating transfers to City of Gainesville . .
ge n e ral fu nd .. . ... . . . ... . . . . . . . . ... . .. . ... . . 12,812,547 869,000 1,989,674 2,756,043 18,427,264 Net (loss) income . ... ... ... . .. . . ...... ... .... .. 5,864,223 - (361,042) (952,420) ~ (2,920,479) 1,630,282 4 Retained camings, beginning of year... .. .. . .. 155,443,063 584,027 11,330,407; -9,481,366 176,838,863 Residel equity transfers.. . . . . . . . . . . . . . . . (1,150,231) 59,125 '298,419 792,687 -
4 Amortization of contributions in aid of construction . ... .. ..... . ... .. . . . . .. .. . . . . - - 730,449- 1,492,105 2,222,554
. ' Retained camings, ending of year... ... . . .... $160j57,055 $ 282,1g $ 11,406 855 $ 8,845 679 $180,691,699
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! ' cMntsym uctorw.tmttms '
Schedule of Utility Piant Properties l Combined Utility Fund Serternber 30,1993 l, _
Utility Plant Properties Balance '
Balance l September 30, Sales and . September 30, 1992 Additions retirements 1993 l Plantin Service i
i ElIctric utility fund:
l Production plant.. .. ........ ... . .... . ...... .... . . . . . . $244,884,796 $ 1,841,794 $ 596,712 $246,129,878 Nuclear fuel . .... . ... .. . . . . . . . . . . . . . . . . . . . . 4,769,548 .53,555 - 4,823,103 i Transmission and distribution plant .. . .. .... . ... . 127,946,740 5,323,147 2,289,748 130,980,139 - I
' ' General and common plant...... ..., .. . . . . . . . . . . . . . 25,084,014 2,051,530 122,466 27,013_.078 l
Totalelectric utility fiend.. . . . . . . . . . . . . . . . . . . . . . . . . . 402 685,098 9,270,026 3,008,926 408,946,198 l Gas utility fund: y l Distribution plant....-.. .. . .. . . . . .. . . . . . . . . 16,319,191 687,574 .27,059 16,979,706 .l l '. General plant.. . . . . . . . . . .. . . . . . . . . . 970,369 115,332 80,701 1,005,000. I C Plant acquisition adjustment . . . . . . . . . . . 4,505,664 - -. 4,505,664 '
Totalgas utility [und.. . . . . . . . . . . . , . ... .. . . . . 21,795,224 802,906 107,760- '22,490,370 i
Water utility fund: I Supply, pumping and treatment plant... . . . . . . . . 12,765,211 498,512 51,865 13,211,858- 1 l Transmission and distribution plant. . . .. 62,791,194 2,895,562 979,575 64,707,181 '-l
' . General plant.... .. . . . . . . . . . . . .. . . . . 2,910,522 114,184 73,188 2,951,518 '
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Total water utility fund.. ........ . .. . . . . . . . . . . . . .. 78,466,927 3,5'08,258 1,104,628 80,870,557
- Wastewater utility fund:
Pumping and treatment plant.. .. . .... .. 54,237,450 408,240 1,577,328 53,068,362 l l Collection plant.. .... . . . . ...... . .. . . . 60,745,574 1,165,164 - 147,332 61,763,406 l l General plant..... . .. . , . . .. . . . . . . . . . . . . . 4,064,823 135,562 42,182 4,158,203 l l
l Total wastewater utility /imd. . . ... .. .. . .. . . . . . . . 119,047,847 1,708,966 1,766,842 118,989,971.
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' Totalriantin service.. . . . . . . . . . . . . . . . .. . $621,995 096 0 $ 15,290,156 $' 5 9_88j56 t $631,297,096 Construction in Progress Electric utility fund . .. .. .. ..... .. .. . . . .. . . . . . . $ 8,647,851 S 23,482,356 $ 9,502,107 ! $ 22,628,100 Gas utility fund.... . . . . . . . . . . . . . . . .. .. . . . . . 4,383,852 '4,563,095 ~ 2,844,710 6,102,237:
- Water utility fund.. .. .. . . . . . . . . . . . . . . 2,515,293 5,553,657' 1,708,967 6,359,983 l Wastewater utility fimd.... .. . ,, .. .... . . . . . . 266,699 1,564,344 799,325 ' 1,031,718 Toialconstruction in rrogress.... . ... .. . . . . . . . . . . . . . . . . $ 15,813,695 $ 35,163,452 $J4 2855,109 - $ 36122 2 1038 L
(
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' CAINESVILLE PIGIONAL LTHLTUES '
Sch dule of Accumulated Depreciation and Amortization Combined Utility Fund _ ,
Styttmber30,1993 ' ' .
Balance . Raimce
. September 30, -- Sales and - September 30, 1992 Additions retirements 1993-
' ' El::ctric utility fund: .
Production plant . . . . . . . . . . . . . . . . . . . . . . . . . . . . - $ 87,712,072 $ 7,110,244 $ 596,711 $ 94,225,605 Nuclear plant....... . . . . . . . . .. . . . . . . . . . . . . . . . . .. .3,701,853- 366,145 _ .
-- 4,067,998-Transmission and distribution plant.... . . ...... . ... 30,393,306 l 4,392,325 12,526,491 32,259,140 General and common plant ....... . . . . .. ..... ....... 6,905,253 1,291,703 112,466' 8,084,490 o TotaleI<ctric utilityfinut. . . . . . . . . . . . . . . . . . . 128,712,484 . 13l160,417 3,235,668 1138,637,233' Gas utility fund: _ .
Operating fund . _..-... . . . .. . . . . . . .. .. .7,736,181- ~ 614,289 c '104,180 8,246,290-
~
Plant a'cquisition adjustment.. . . . . . . . . . . . .... . 793,481 300,374 a 11,093,855 a ;
, Tota / gas utility fumi.. . . -. .. .. . . . .. . . . . . . . . . .. 8,529,662 '914,663 104,180 9,340,145 )
p Water utility fund: . . .
Supply, pumping and treatment plant.. .. .. . . . . . 4,543,202 . 359,424 . .51,866 a 4,850,760 Transmission and distribution plant.. .. ... . . . . . 17,965,738 .1,406,693. 316,027. 19,056,404 Gene ral plan t .. . .. . .. . .. . / . .. . .. . .. ... . . . ... ... . . . 2,151,413- '253.204 73,189L 42,331,428' Total water utility fined... ...., .. . ... .. . . . . . . 24,660,353 2,019,321 '441,082' 26,238,592 Wa:tewater utility fund:. .
Pumping and treatment plant - 13,402,388 1,704,281 _ 1,577,328 .13,529,341 A Collection plant . . ... .. . ... . . . . ... ... .. .... . 16,141,408 '1,207,817. 147,333 - 17,201,892 General plant ... ... . .. .. ...... . . .. . .. . .. . 3,134,924. 368,359- 42,182 3,461,101' Total wastewater utility fism/.. .... . . . . . . . . . . . . . . . . . 32,678,720 3,280,457 1,766,843' ' 34,192,334 Total..............,................................ $194,581,219 . ~ $ 19,374,858 $ L 5,547,773 $508,408,304 I
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INVESTOR INFORMATION Certified Public Accountants Rf AK, D:at Marwu-k and Davis, Monk t e Company Revenue Bonds TmstcNReps:r.tr:P tyma knt Morgan Guaranty T rust Company New York, New York Tax Exempt Commercial Paper Dc.tler Goldman. Sachs and Cornpany New York. New York Tax Exempt Commercial Paper Payii; Acent Bankers Trust New York. New York 1
l 1993 C Subordinated Bonds l Registw.Pasina Ag*:t Bank America National Trust Company New York, New Ymk Editor: Dan]mc Dengn & Art Ducction:
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O D l i #o DIE Q j! CITY OF BUSHNELL, FLORIDA i
i ANNUAL FINANCIAL REPORT
! AND AUDITOR'S REPORT l
- September 30,1993 1
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CITY OF llUSIINELL, FLORIDA GENERAL PURPOSE FINANCIAL STATEMENTS FOR TIIE FISCAL YEAR ENDED SEPTEMIlER 30,1993
CITY OF BUSHNELL, FLORIDA CITY COUNCIL AND OFFICIAL 8 BEPTEMBER 30, 1993 Mayor-Councilman . . . . . . . . . . . Joseph P. Strickland, Jr.
Vice-Mayor . . . . . . . . . . . . . . . . . . . . . Emory Guess Councilman . . . . . . . . . . . . . . . . . . . . . Dale Swain 1
Councilman . . . . . . . . . . . . . . . . . . . Billy Williams Councilman . . . . . . . . . . . . . . . . . . . Margaret Thies City Manager . . . . . . . . . . . . . . . . . . . Vicente Ruano City Clerk . . . . . . . . . . . . . . . . . . Judith C. Muller City Attorney . . . . . . . . . . . . . . . . James E. Wade, III i
I CITY OF BUSHNELL, FLORIDA t GENERAL PURPOSE FINANCIAL STATEMENTS j SEPTEMBER 30, 1993 TABLE OF CONTENTS l Paae Number i
. INTRODUCTORY SECTION i City Council and Officials i l l l j Table of Contents li-iv 1
, FINANCIAL SECTION l i
j Independent Auditor's Report 1-2 l i l l General Purpose Financial Statements:
l l Combined Balance Sheet--All Fund Types and i Account Groups 3-4
, Combined Statement of Revenues, Expenditures, j and Changes in Fund Balances--All Governmental l Fund Types 5 i
) Combined Statement of Revenues, Expenditures, and changes in Fund Balances--Budget and i
Actual--General and Special Revenue Funds 6
! Combined Statement of Revenues, Expenses, and 2
Changes in Retained Earnings--All Proprietary l Fund Types 7
) Combined Statement of Cash Flows-- All j Proprietary Fund Types 8 Notes to Financial Statements 9-23 i
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, Combining and Individual Fund Financial Statements:
i i General Fund
- Comparative Balance Sheets 24 Comparative Statement of Revenues, Expenditures and Changes in Fund Balance 25 l
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TABLE OF CONTENTS (Continued) Pace Number Comparative Statement of Revenues, Expenditures, and Changes in Fund Balances--Budget and Actual 26-27 Statement of Revenues--Budget and Actual 28-29 Statement of Expenditures--Budget and Actual 30-34 Special Revenue Funds:
Combining Balance Sheet 35 t
Combining Statement of Revenues, Expenditures and Changes in Fund Balance 36 Community DeveloDment Block Grant Fund Comparative Balance Sheet 37 Statement of Revenues, Expenditures and Changes in Fund Balance 38 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 39 Everareen Cemeterv Fund l i
Comparative Balance Sheet 40 Comparative Statement of Revenues, Expenditures, l and Changes in Fund Balances 41 l Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 42 I
Enterorise Funds l
Combining Balance Sheet 43-45 l Combining Statement of Revenues, Expenses and Changes in Retained Earnings (Deficit) 46 Combining Statement of Cash Flows 47-48 Acency Fund Combining Balance Sheet 49 111 g,-m, ,4 y , . , , , , - , . . yr, , . .,,ri -7v,..~,y , , ew--,.r..,,.g.*~,,,,,, ....w., ,y,.,=,-,.#e ,-y- .-..w.e,,--+ --w.,,..m.,-- mi.--,..__--__-_-.--a
TABLE OF CONTENTS (Continued) Eace Number SUPPLEMENTARY INFORMATION Independent Auditor's Report on Supplementary Information - Schedule of Governmental Financial Assistance 50 Schedule of Governmental Financial Assistance 51 AUDITOR'S COMPLIANCE REPORTB Independent Auditor's Report on Compliance with General Requirements Applicable to Federal Financial Assistance 52 Schedule of Findings and Questioned Costs 53 Independent Auditor's Report on Compliance with !
Specific Requirements Applicable to Major i Federal Financial Assistance Program 54 Schedule of Findings and Questioned Costs 55 Independent Auditor's Report on Compliance Based on an Audit of General Purpose Financial Statements Performed in Accordance with Government Auditing Standards 56 AUDITOR'S INTERNAL CONTROL REPORTB Independent Auditor's Report on Internal Control Structure in Accordance with OMB Circular A-128 57-58 l
Independent Auditor's Report on Internal Control l Structure in Accordance with Government Auditing Standards 59-60 Auditor's Letter to Management 61-62 iv
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3425 Lako Contor Dr. Ste.1 David Logan, CPA PA Mount Dora, FL 32757 Cortified Public Accountant 0 0 3 .M INDEPENDENT AUDITOR'S REPORT !
i Honorabic Mayor and Niembers of the City Council City of Bushnell Bushnell, Florida I have audited the accompanying general purpose financial statements of the City of Bushnell, Florida, as of and for the year ended September 30,1993, as listed in the Table of Contents. These financial statements are the responsibility of the City of Bushnell's management. My responsibility is to express an opinion on these financial statements based I on my audit.
Except as discussed in the following paragraph, I conducted my audit in accordance with generally accepted auditing standards. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion.
I was unable to examine sufficient evidential matter to determine if property, plant and equipment and the provisions for depreciation recorded in the Enterprisc Funds and the fixed assets recorded in the general fixed assets account group are fairly presented at cost or estimated historical cost, due to insufficient detail within the City's property records.
In my ophion, except for the effects of such adjustments, if any, as might have been detennined to be necessary had I been able to determine the propriety of amounts recorded as property, plant and equipment and the provisions for depreciation in the Enterprise Funds and the propriety of amounts recorded as fixed assets in the general fixed assets account group, the general purpose financial statements referred to above present fairly in all material respects. the financial position of the City of Bushncil, Florida, as of September 30, 1993, 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.
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IIonorable Mayor and Members of the City Council Page 2 My audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining, individual fund, and individual account group 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 general purpose financial statements of the City of Bushnell, Florida. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in my opinion, is fairly stated in all material respects in relation to the general purpose financial Statements taken as a whole.
je PA PA David Logan, CPA PA Mount Dora, Florida February 16,1994 l
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Exhibit 1 CITY OF BUSENELL, FLORIDA ( Page 1 of 2)
COMBINED BALANCE SHEET--ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1992)
GOVERNMENTAL PROPRIETARY FIDUCIARY ACCOUNT GROUPS FUND TYPES FUND TYPE FUND TYPE GENERAL GENERAL TOTALS SPECIAL AGENCY FIXED LONG TERM (MEMORANDUM ONLY)
GENERAL REVENUE ENTERPRISE FUND ASSETS DEBT 1993 1992 ASSETS AND OTHER DEBITS Assets:
Cash $ 386,010 $ 20,973 S 297,657 $ 2,419 $ - S - S 707,059 S 687,320 Receivables:
Taxes 40,813 - - - -
40,813 33,336 Accounts (Net of allowance for uncollectibles - $2,000) - -
241,735 - - -
241,735 202,751 Intergovernmental 51,548 - - - -
51,548 17,053 Due From Other Funds 538 -
14,521 - - -
15,059 -
Inventories, at Cost 495 -
67,720 - - -
68,215 75,648 Restricted Assets:
Cash and Investments -
282,052 470,664 -
752,716 699,591 Property and Equipment, at Cost (Net, where applicable, of accumulated depreciation) - -
2,497,643 1,394,046 w
3,891,689 3,507,029 other Assets - -
12,219 - - -
12,219 12,892 Other Debits: l 1
Amount to be Provided for Retirement of General Long-Term Debt - - -
236,871 236,871 266,424 Total Assets and Other Debits S 479,404 S 303,025 $ 3,602,159 S 2,419 $ 1,394,046 S 236,871 $ 6,017,924 $ 5,502,044
Enhibit 1 CITY OF BUSHNELL, FLORIDA (Page 2 of 2)
COMBINED BALANCE SHEET--ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1992)
GOVERNMENTAL PROPRIETARY FIDUCIARY ACCOUNT GROUPS FUND TYPES FUND TYPE FUND TYPE GENERAL GENERAL TOTALS SPECIAL AGENCY FIXED LONG TERM (MEMORANDUM CNLY)
GENERAL REVENUE ENTERPRISE FUND ASSETS DEBT 1993 1992 LIABILITIES, EQUITY
) AND OTHER CREGITS t
Liabilities:
Accounts Payable S 84,158 $ 18,073 $ 147,113 $ -
S - S - S 249,344 S 182,196 Accrued Liabilities 11,298 - 8,156 -
19,454 24,105 Compensated Absences Payable * -
21,802 -
37,733 59,535 59,040 Due to Other funds - -
15,059 - - -
15,059 -
Deferred Revenue 2,272 - - - - -
2,272 2,686 Deposits 980 1,725 -
2,419 - -
5,124 5,161 Payable From Restricted Assets:
Customer Deposits - -
61,121 - - -
61,121 54,563 Accrued Interest Payable - -
8,578 - - -
8,578 10,767 Revenue Bonds Fayable - -
30,000 - - -
30,000 50,000 Long Term Revenue Bonds Payable -
Series 1976 (Net) - -
199,856 -
199,856
^ - -
229,831 Notes Payable - - 576,028 - -
199,138 775,166 795,479 Total Liabilities 98,708 19,798 1,067,713 2,419 236,871 1,425,509 l
1,412,828 l Equity and Other Credits:
Contributed Capital - -
1,130,112 - - -
1,130,112 1,089,568 Investment in General Fixed Assets - - - - 1,394 ^46 -
1,394,046 1,260,384 Retained Earnings:
Reserved - -
370,965 - - -
370,965 320,167 Unreserved - -
1,033,369 - - -
1,033,369 891,480 l Fund Balances:
Reserved 93,429 282,052 - - - -
375,481 344,667
, Unreserved 297,267 1,175 - - - -
268,442 182,950 Total Equity and Other Credits 380,696 283,227 2,534,446 1,394,046 4,592,415 4,089,216 Total Liabilities, Equity and Other Credits S 479,404 S 303,025 $ 3,602.159 S 2,419 S 1,394,046 $ 236,871 ,S .-
6,017,92C S 5,502,044 See Accompanying Notes to Financial Statements
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CITY OF BUSHNELL, FLORIDA Enhibit 2 COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND I CHANGES IN FUND BALANCES--ALL GOVERNMENTAL FUND TYPES l YEARS ENDED SEPTEMBER 30, 1993 -
(WITH COMPARATIVE TOTALS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992)
TOTALS SPECIAL (MEMORANDUM ONLY)
GENERAL REVENUE 1993 1992 Revenues:
Taxes S 407,466 $ -
$ 407,466 $ 293,004 Licenses & Permits 21,039 -
21,039 14,987 Intergovernmental 372,417 285,623 658,040 406,743 l Charges for Services 1,632 -
1,632 2,250 Fines & Forfeits 53,826 -
53,826 50,271 Miscellaneous Revenue 45,126 26,715 71,841 55,683 Total Revenues 901,506 312,338 1,213,844 822,938 J
Expenditurest General Government 20P,491 -
208,491 209,553 i Public Safety 417,381 -
417,381 507,286 Physical Environment 9,964 18,785 28,749 22,261 Transportation 132,729 -
132,729 114,909 Economic Environment 11,000 322,512 333,512 59,408 Culture & Recreation 173,512 -
173,512 95,070 Total Expenditures 953,077 341,297 1,294,374 1,008,487 Excess (Deficiency) of Revenues Over (Under)
Expenditures (51,571) (28,959) (80,530) (185,549)
Other Financing Sources:
Operating Transfers In 217,000 -
217,000 207,000 Loan Proceeds - - -
122,257 Total other Financing Sources 217,000 -
217,000 329,257 ,
Excess (Deficiency) of Revenues and Other Financing Sources Over Other Expenditures 165,429 (28,959) 136,470 143,708 Fund Balances October 1 215,431 312,186 527,617 384,255 ,
Increase (Decrease) in Inventory Reserves (164) -
(164) (346)
Fund Balances September 30 $ 380,696 $ 283,227 $ 663,923 $ 527,617 See Accompanying Notes to Financial Statements 5
CITY OF BUSHNELL, FLORIDA Exhibit 3 COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES--BUDGET AND ACTUAL -
GENERAL AND SPECIAL REVENUE FUNDS YEAR ENDED SEPTEMBER 30, 1993 OENERAL FUND SPECIAL REVENUE FUNDS VARI 7NCE VARIANCE FAVORABLE FAVORABLE BUDOETED ACTUAL ( UN F AVOR AB LE) BUDOETED ACTUAL ( UN FAVOR AB LE)
Revenues:
Taxes $ 380,252 $ 407,466 $ 27,214 $ - $ - $ -
Licenses and Permits 16,207 21,039 4,832 - - -
Intergovernmental 316,918 372,417 55,499 303,987 285,623 (18,364)
Charges for Services 1,700 1,632 (68)
Fines and Forfeits 19,000 53,826 34,826 - - -
Miscellaneous Revenue 47,000 45,126 (1,874) 27,600 26,715 (885)
Total Revenues 781,077 901,506 120,429 331,587 312,338 (19,249)
Expenditurest j General Government 214,613 208,491 6,122 - - -
Public Safety 418,336 417,381 955 - - -
Physical Environment 11,600 9,964 1,636 15,000 18,785 (3,785)
Transportation 148,251 132,729 15,522 - - -
l Economic Environment 11,000 11,000 -
259,024 322,512 (63,488) l Culture and Recreation 174,335 173,512 823 - - -
Total Expenditures 978,135 953,077 25,058 274,024 341,297 (67,273)
Excess ( Deficiency) of Revenues over ( Under) Expenditures (197,058) (51,571) 145,487 57,563 (28,959) (86,522) other Financing ovo. ...
Operating Transfers In 217,000 217,000 - - - -
Excess (Deficiency) of Revenues and Other Financing Sources Over Expenditures 19,942 165,429 145,487 57,563 (28,959) (86,522)
Fund Balances October 1 215,431 215,431 -
312,186 312,186 -
Increase ( Decrea se) in Reserves -
(164) (164) - - -
Fund Balances September 30 $ 235,373 $ 380,696 $ 145,323 $ 369,749 $ 283,227 $ (86,522)
See Accompanying Notes to Financial Statements 6
CITY OF BUSHNELL, FLORIDA Exhibit 4 COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS--ALL PROPRIETARY FUND TYPES YEAR ENDED SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992) 1993 1992 Operating Revenues:
Charges for Services S 1,842,713 S 1,668,326 Operating Expenses:
Purchased Power 813,797 806,453 Salaries 184,808 175,327 Employee Benefits 80,769 85,111 Professional Services 41,372 62,653 J Operating Supplies 53,637 21,924 Other Current Charges 64,271 75,941 Depreciation 112,490 106,238 Landfill 62,846 56,377 I
Total Operating Expenses 1,413,990 1,390,024 operating Income 428,723 278,302 l
Non-Operating Revenue (Expense): l Interest Earned 22,188 30,072 Interest Expense and Fiscal Charges (41,224) (48,388) -
(
Total Non-Operating Revenues (Expense) (19,036) (18,316) )
Income Before Transfers 409,687 259,986 Operating Transfers (Out) (217,000) (207,000)
Net Income 192,687 52,986 Retained Earnings, October 1 1,211,647 1,158,661 Retained Earnings, September 30 $ 1,404,334 S 1,211,647 l
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CITY OF BUSHNELL, FLORIDA Exhibit 5 COMBINED STATEMENT OF CASH FLOWS ALL PROPRIETARY FUND TYPES THE YEAR ENDED SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992)
ENTERPRISE 1993 1992 Cash Flows From Operating Activities:
Cash Received From Customers, including Cash Deposits S 1,830,865 S 1,695,456 Cash Paid to Suppliers (1,098,403) (1,081,207)
Cash Paid to Employees (180,634) (175,248)
Cash Deposits Returned to Customers (20,578) (31,804)
Net Cash Provided By operating Activities 531,250 407,197 Cash Flows From Noncapital Financing Activities:
Capital Contributions - Customers 7,281 4,864 Operating Transfers Out (217,000) (207,000)
Received From (Paid To) Other Funds 538 -
Net Cash Used In Noncapital Financing Activities (209,181) (2,02,136)
Cash Flows From Capital and Related Financing Activities:
Loan Proceeds 155,127 39,785 Loan Cost 673 -
Purchase of Property and Equipment (329,200) (166,204)
Principal Payments (199,099) (89,760)
Interest Paid (43,413) (48,754)
Net Cash Provided By Capital and I Related Financing Activities (415,912) (264,933) '
cash Flows From Investing Activities:
Receipt of Interest 22,188 30,072
)
Net Cash Provided By Investing Activities 22,188 30,072 )
Net Increase (Decrease) In Cash (71,655) (29,800)
Cash, October 1 839,976 869,776 Cash, September 30 $ 768,321 $ 839,976 Reconciliation of Operating Income to Net Cash Provided By Operating Activities:
Operating Income S 428,723 $ 278,302 Adjustments to Reconcile Operating Income to Net Cash Provided By Operating Activities:
Depreciation Expense 112,490 107,265 Decrease in Accounts Receivable (38,984) 4,019 (Decrease) in Allowance for Uncollected Accounts (6,000)
Decrease in Prepaid Expensos 6,114 (Increase) in Inventory 7,369 (693)
(Increase) in Accounts Payable 18,235 10,688 Increase in Accrued Expenses (6,848) 10,580 (Decrease) in Accumulated Compensated Absenses 3,707 (385)
Net (Decrease) in Customer Deposits 6,558 (2,693)
Total Adjustments 102,527 128,895 Net Cash Provided by Operating Activities S 531,250 $ 407,197 See Accompanying Notes to Financial Statements 8
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CITY OF BUSHNELL, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 NOTE 1
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES The City of Bushnell, Florida was incorporated in 1957. The City operates under a council-manager form of government and providea services to its residents in many areas, including public safety (police and fire), highways and streets, utilities, sanitation, culture-recreation, public improvements, and general administrative services. The financial statements of the City of Bushnell, Florida have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental units. The Governmental Accounting standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting princi-ples. The more significant of the City of Bushnell, Florida's accounting principles are described below: A. Reporting Entity In evaluating how to define the government, for financial reporting purposes, management has considered all potential component units. ; The decision to include a potential component unit in the reporting l entity was made by applying the criteria set forth in GAAP. The l basic--but not the only--criterion for including a potential I component unit within the reporting entity is the governing body's I ability to exercise oversight responsibility. The most significant manifestation of this ability is financial independence. Other manifestations of the ability to exercise oversight responsibility include, but are not limited to, the selection of governing authority, the designation of management, the ability to signifi-cantly influence operations, and accountability for fiscal matters. A second criterion used in evaluating potential component units is the scope of public service. Application of this criterion involves considering whether the activity benefits the government and/or its citizens, or whether the activity is conducted within the geographic boundaries of the government and is generally available to its citizens. A third criterion used to evaluate potential component units for inclusion or exclusion from the reporting entity is the existencs of special finaccing relation-ships, regardless of whether tha government is abla to exercise oversight responsibilities. Based upon the application of these criteria, the following is a brief review of each potential component unit addressed in deflatu? the government'e reporting entity. Included within the reporting entity: Everareen Cemeterv Fund: A Board of Trustees is appointed by the City Council to administer the affairs of Evergreen Cemetery. The Board is authorized to sell cemetery lots and to invest proceeds which are legally restricted by ordinance. The principal is not subject to expenditure and the interest can be used only for operations, maintenance and improvement of the cemetery. B. Fund Accounting The City uses funds and account groups to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain govern-ment functions or activities. 9
CITY OF BUSHNELL, FLORIDA NOTES TO FINANCIAL STATEMFMIS , SEPTEMBER 30, 1993 l NOTE 1
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Continued) A fund is a separate accounting entity with a self-balancing set of accounts. Funds are classified into three categories: governmental, proprietary and fiduciary. Each category, in turn, is divided into separate " fund types". Governmental Funds are used to account for all or most of a government's general activities. Governmental funds of the City are as follows: General Fund - The General Fund is the general operating fund l of the City. It is used to account for all financial i resources, except those required to be accounted for in another fund. Special Revenue Fund - The Special Revenue Fund is used to account for the proceeds of specific revenue sources (other than expendable trusts, or for major capital projects) that are legally restricted to expenditures for specific purposes. l Proprietary funds are used to account for activities similar to those found in private sector, where the determination of net incomo is necessary or useful to sound financial administration. Proprietary funds of the City are as follows: Enterprise Funds - The Enterprise Funds are used to account for activities that are operated in a manner similar to private businesses where the cost of providing goods and services are primarily recovered through user charges. Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or on behalf of other funds within the government. Agency funds generally are used to account for assets that the government holds on behalf of others as their agent. An account group, unlike a fund, is a financial reporting device I designed to provide accountability for certain assets and liabili- ' ties that are not recorded in the funds because they do not ) directly affect net expendable available financial resources.
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Account Groups maintained by the City are as follows: General Fixed Assets - Accounts for property and equipment not used in proprietary fund operations or accounted for in trust I funds. General Long-Term Debt - Accounts for unmatured principal of l long- term general obligation indebtedness that is not a I specific liability of a Proprietary or Fiduciary Fund. l C. Basis of Accounting l The accounting and financial reporting treatment applied to a fund i is determined by its measurement focus. All goveramental funds are ' accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and i current liabilities generally are included on the talance sheet. ! Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e. , expenses and other financial uses) in net current assets. 10
CITY OF BUSHNELL, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 NOTE 1
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Continued) All proprietary funds are accounted for on a flow of economic resources measurement focus. With thie measurement focus, all assets and all liabilities associated with the operation of these funds are included on the balance sheet-. Fund equity (i.e., net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund-type operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. The modified accrual basic of accounting is used by all govern-mental fund types and agency lurde. Under the modified accrual basis of accounting, revenueu are recagnized when susceptible to accrual (i.e., when they become both measurable and available).
" Measurable" means the amount of the transactiott can be determined and "available" means collectible within the current period or socn enough thereafter to be used to pay liabilities of the current period. Billing cycles of the proprietary funds which overlap September 30 are pro-rated based upon meter reading dates.
1 Expenditures are recorded when the related fund liability is incurred. Principal and interest on general long-term debt are recorded as fund liabilities when due. The following revenues are considered to be susceptible to accrual: Cigarette Tax State Revenue Sharing Proceeds Mobile Home License Tax Alcoholic Beverage License Tax Half Cent Sales Tax Property Taxes Franchise Taxes Utility Service Taxes Interest Revenue The accrual basis of accounting is utilized by proprietary fund types. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. The City reports deferred revenue on its combined balance sheet. Deferred revenues arise 'ihen a potential revenue does not meet both the " measurable" and "available" criteria for recognition in the current period. Detwered revenues also arise when resources are received by the government before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualify-ing expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the government has a legal claim to the resources, the liability for deferred revenue is removec from the combined balance sheev and revenue is recognized. D. Budgets Budgetn are adopted on a basis consistent with generally accepted accouncing principles, except that the provision for depreciation expense is not included in the budget of the proprietary funds. Annual appropriated budgets are adopted for the general fund. Annual appropriations lapse at fiscal year end. Encumbrance accounting, under which purchase orders, contracts, and other commitments are recorded as expenditures in order to reserve that portion of the applicable appropriation is not employed by the City for budgetary purposes. 11
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l l CITY OF BUSHNELL, FLORIDA I f NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 l NOTE 1
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Continued) E. Cash and Cash Equivalents cash includes amounts in demand deposits as well as short-term investments with a maturity date within three months of the date acquired by the government. F. Short-Tern Interfund Receivables /Payables During the course of operations, numerous transactions occur between individual funds for goods provided or services rendered. These receivables and payables are classified as "due to/from other funds" on the balance sheet. G. Inventory Inventories held by the Enterprise Funds are stated at cost or market, whichever is lower. H. Prepaid Items Payments made to vendors for service that will benefit periods beyond September 30, 1993 are recorded as prepaid items. I. Property, Plant and Equipment Property, plant and equipment used in governmental fund type operations are accounted for in the General Fixed Assets Account Group, rather than in governmental funds. No depreciation has been provided on such property, plant and equipment. All property, plant and equipment are valued at historical cost or estimated historical cost if actual. historical cost is not available. Donated property, plant and equipment are valued at their estimated fair value on the date donated. The city has adopted the accounting policy of not capitalizing
" infrastructure" general fixed assets (road, bridges, curbs and gutter, streets and sidewalks, drainage system, lighting systems and similar assets that are immovable and of value only to the City).
Depreciation is provided in the enterprise fund in amounts sufficient to relate the cost of the depreciable assets to l operations over their estimated service lives on the straight-line I basis. The service lives by type of asset are as follows: Useful Life In Years Electric Utility Fund Distribution Plant 25-40 years Structures and Improvements 32 years Equipment 6-12 years l Investment in Crystal River #3 Nuclear Plant 28 years l Water Utility Fund l Distribution Plant 25-101 years ) Building 50 years Equipment 25 years Sanitation Fund Equipment 7 years 12 . _ . _ _ _ . _ _ . _ . _ . . _ _ . _ . _ . , _ . . _ , _ . - . ~ . ~ . _ . _ _ , _ . , . . . . _ . _ _ . _ . . . . , . , . . . - _ , _ . _ _ , . ~ . _ . _ .
CITY OF BUSHNELL, P'LORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 NOTE 1
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Continued) J. Bond Discounts / Issuance Costa Bond discounts and issuance costs for proprietary fund types are deferred and amortized over the term of the bonde using a straight-line amortization method which produce results not significantly different from the interest method. Bond discounts are presented d as a reduction of the f ace amount of bonds payable whereas issuance costs are recorded as deferred charges. K. Compensated Absences Vested or accumulated vacation leave that is expected to be liquidated with expendable available financial resources is repeeted as an expenditure and a fund liability of the governmental rund that will pay it. Amounts of vested or accumulated vacation leave that are not expected to be liquidated with expendable available financial resources are reported in the general long-term debt account group. No expenditure is reported for these amounts. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. In accordance with the provisions of Statement of Financial Accounting Standards No. 43, accounting for compen-sated absences, no liability is recorded for nonvesting accumulat-ing rights to receive sick pay benefits. However, a liability is recognized for that portion of accumulating sick leave benefits that is estimated will be taken as " terminal leave" prior to retirement. L. Interfund Transactions Quasi-external transactions are accounted for as revenues, expenditures or expenses. Transactions that constitute reimburse- , ments to a fund for expenditures / expenses initially made from it that are properly applicable to another fund, are recorded as ) exper.ditures/ expenses in the reimbursing fund and as reductions of expenditures / expenses in the fund that is reimbursed. All other interfund transactions, except quasi-external transac-tior,s and relmbursements, are reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. M. Grants - Proprietary Funds Unrestrict.ed grants, entitlements or shared revenues received are reported as non-operating revenues. Such resources externally restricted for capital acquisitions or construction are reported as contributed capital. Operating expenses include depreciation on all depreciable fixed assets (including those financed by grants). N. Water Live Extension Charges water line extension charges are made to customers to cover the full cost of the addition. Such charges are recorded as an equity contribution. Costs of the extension are reported as property and equipment and depreciated over the estimated useful life of the asset. 13
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CITY OF BUSHNELL, FLORIDA ' NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 i NOTE 1
SUMMARY
OF SIONIFICANT ACCOUNTING POLICIES (Continued) j l O. Fund Equity l Contributed capital is recorded in proprietary funds that have , received capital grants or contributions from developers, customers ) or other funds. Reserves represent those portions of fund equity , not appropriable for expenditures or legally segregated for a l specific future use. j P. Total Columns on Combined Statements--Overview ] Total columns on the combined statements - overview are captioned Memorandum only to indicate they are presented only to facilitate financial analysis. Data in these columns are not comparable to j a consolidation. Interfund transactions are not eliminated. Q. Comparative Data Comparrtive total data for the prior year have been presented in the ar.companyir.g financial statements in order to provide an underetanding of changes in the government's financial position and operations. However, comparative data have not been presented in all statements because their inclusion would make certain state-4 ments unduly complex and difficult to understand. NOTE 2 LEGAL COMPLIANCE - BUDGETS
?>rior to October 1, the City Manager submits to the City Council a !
proposed operating budget for the fiscal year commencing October 1. The operating budget includes proposed expenditures and the means of financing them. After submission of the proposed operating budget, workshops are held and public hearings are conducted to obtain taxpayer comments. Prior to October 1, the budget is legally enacted through passage of a resolution. Any transfers of budgeted amounts between departments within any fund and any revisions that alter the total i expenditures of any fund must be approved by the Council. Budgeted amounts presented agree with the original adopted budget as amended during the year by City Council. ' NOTE 3 DEPOSITS AND INVESTMENTS a Deposits - At year end, the carrying amount of the City's deposits was
$1,077,546 and the bank balance was $1,094,029. All of the bank balance was covered by federal depository insurance or by a state collateral k
insurance pool held by the Treasurer, State of Florida, in the Public Deposit Security Trust Fund established in accordance with Chapter 280 of the Florida Statutes. Investments - The City's investments are categorized as either (1) insured or registered or for which the securities are held by the City or its agent in the City's name, (2) uninsured and unregistered for which the securities are held by the broker's or dealer's trust department or agent in the city's name, or (3) uninsured and unregistered for which the securities are held by the broker or dealer, or by its trust department or agent but not in the government's name. j l l l 14 ;
CITY OF BUSHNELL, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 NOTE 3 DEPOSITS AND INVESTMENTS (Continued) Catecories Carrying Market 1 2 3 Amount Value Certificates of Deposits SM $ - $ - $281,000 SM NOTE 4 RECEIVABLES Under Florida law, the assessment of all properties and the collection of all county, municipal and school board property taxes are consoli-dated in the offices of the County Property Appraiser and the County Tax Collector. The laws of the State regulating tax assessment are also designed to assure a consistent property valuation method state wide. State statutes permit municipalities to levy property taxes at a rate of up to 10 mills. The millage rate assessed by the City for the fiscal year ended September 30, 1993, was 2.70. All property is assessed according to its f air market value on 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 rolls meet all of the appropriate requirements of State statues. The current year taxes for the fiscal year, beginning October 1, are billed in the month of November and are due no later than March 31. On April 1, all unpaid amounts become delinquent and are subject to interest and penalties. Discounts are allowed for early payment as follows: November 4% December 3% January 2% February 1% March 0% Delinquent taxes on real property bear interest of 18% per year. On or prior to June 1 of the following 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 amount of delinquent or uncollected property taxes at year end was immaterial. The City's Tax Calendar is as follows: Valuation Date: January 1 Levy Dates November 1 Due Date: March 31, Succeeding Year Lien Date: April 1, Succeeding Year NOTE E r.DND SERVICE REQUIREMENTS / RESTRICTED ASSETS NUCLEAR DECOMMISSIONING - The Florida Public Service Commission requires utilities to set aside monies to pay the estimated future cost of dismantling or decommissioning nuclear power plants. The City has set aside such monies in a custody account with a third party trustee. 15
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CITY OF BUSHNELL, FLORIDA
- NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 l NOTE 5 BOND SERVICE REQUIREMENTS / RESTRICTED ASSETS (Continued) (
l UTILITIES SYSTEM REVENUE BONDS SERIES 1976 i As of September 30, 1993, bond service requirements are current. The , following is a summary of the restricted assets related to the Utilities System Revenue Bonds Series 1976. j Revenue Bonds Debt Service - The City deposits cash monthly into l a separate account to fund upcoming principal and interest payments in accordance with the bond resolution. Such cash and investments are reported as restricted assets. Renewal and Replacement - The bond resolution requires a monthly l deposit for renewal and replacement (extensions, enlargements or additions to, or the replacement of capital assets of the facili-ties and emergency repairs thereto or unusual costs of operation and maintenance). The required monthly contribution is computed at 1/12 of 9 percent of the prior year's gross revenue, however, no further deposits are required when the balance on hand equals , 10 percent of the outstanding principal balance of the revenue ' bonds. l j s CUSTOMER DEPOSITS Customer deposits have been restricted to indicate the amount is not available for the financing of current utility operations. NOTE 6 PROPERTY, PLANT AND EQUIPMENT A summary of changes in general fixed assets follows: BALANCE BALANCE 10/1/92 ADDITIONS DISPOSALS 9/30/93 Land S 284,309 S S (400) $ 283,909 Duildings 166,587 - - 166,587 ' Improvements 271,998 15,858 287,856 Machinery and Equipment 537,490 117,804 - 655,294
$1,260,384 $133,662 $1,393,646 S (400)
A summary of Proprietary Fund Type property and equipment at September 30, 1993 follows: ELECTRIC WATER UTILITY UTILITY SANITATION FUND FUND FUND IQThL Land S 2,300 S 18,090 $ - S 20,390 Distribution Plant 1,079,759 666,683 - 1,746,442 Buildings 211,415 134,436 - 345,851 Equipment 201,730 748,714 203,474 1,153,918 Crystal River #3 Investment 302,977 - - 302.977 1 1,798,181 1,567,923 203,474 3,569,578 Accumulated ! Depreciation (587,344) (379,763) (104,828) (1,071,935) l l $1,210,837 $1,188,160 l S ,9gt646 S 2.497.643 3 1 16 ' i
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CITY OF BUSHNELL, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 NOTE 7 CAPITAL LEASES The following is a schedule of maturity of capital leases entered into by the City. The liability is reported in the general long-term debt group of accounts: Emercency One, Inc. (fire trucks): Total Remaining Due Date Interent Principal Payments 1994 $ 968 $ 11,*'3 b,123493 GE Capital (fire trucks): 1994 $ 3,964 $ 4,807 $ 8,771 1995 7,401 10,140 17,541 1996 6,657 10,884 17,541 1997 5,860 11,681 17,541 1998 5,003 12,538 17,541 1999-2002 10,127 60,038 70,165
$39,012 $110,088 $149,100 Total future minimum lease payments under capitalized leases are as follows:
1994 $ 4,932 $ 16,332 $ 21,264 1995 7,401 10,140 17,541 1996 6,657 10,884 17,541 1997 5,860 11,681 17,541 1998 5,003 12,538 17,541 1999-2002 10,127 60,038 70,165
$39,980 $121,613 $161,593 NOTE 8 LONG-TERM DEBT The following is a summary of the bonds payable and general long-term debt:
Proprietary Fund Lono-Term Debt Utilities System Revenue Bonds Series 1976 - $500,000 l The 1976 bonds are coupon bonds in denominations of $5,000 each and are collateralized by a pledge of the gross revenues of the utilities system. The bond liability is recorded according to use of the original proceeds Fund 14 percent. as follows - Electric Utility Fund 86 percent; Water Utility follows: Combined bond maturities and interest rates are as 17
j CITY OF BUSHNELL, FLORIDA i NOTES TO FINANCIAL STATEMENTS ! SEPTEMBER 30, 1993
- NOTE 8 LONG-TERM DEBT (Continued)
TOTAL I MATURITY COUPON PRINCIPAL i APRIL 1 RATE AMOUNT Term Bonds 1994 7.3% 30,000 1995 7.3% 35,000 i 1996 7.3% 35,000 t 1997 7.3% 40,000 ' 1998 7.3% 45,000 WATER ELECTRIC 1999 7.3% 50,000 FUND FUND i Total Principal Balance Outstanding $235,000 $32,900 $202,100 Less Unamortized Discount and Issue Costs (5,144) (717) (4,427)
$229,856 $32,183 $197,673 Total Remaining Interest S 56,393 $ 7,895 $ 48,498 The term bonds due in 1999 are subject to mandatory redemption by lot in the amounts listed above.
Water Fund - Florida Municipal Power Acency - Initial Pooled Loan Proiect The City has entered into a financing agreement with the Florida Municipal Power Agency (FmPA). Interest is payable monthly at a variable rate (currently 3.0% plus a 1.25% administration fee) and principal is due as follows: Year Ended Electric Water Total September 30 Fund Fund Principal 1994 S 17,470 S 12,530 $ 30,000 1995 21,838 13,162 35,000 1996 21,838 13,162 35,000 1997 26,205 13,795 40,000 1998 26,205 13,795 40,000 1999 26,205 18,795 45,000 2000 30,573 19,427 50,000 2001 30,573 19,427 50,000 2002 153 14,847 15,000 2003 15,000 15,000 2004 20,000 20,000 2005 20,000 20,000 2006 20,000 20,000 2007 20,000 20,000 2008 27,000 25,000 2009 25,000 25,000 2010 25,000 25,000 2011 26,00Q 26,000
$201,060 $334,940 S536,000 18
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CITY OF BUSHNELL, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 NOTE 8 LONO-TERM DEBT (Continued) Water Fund Mortaaqe Note Payable - Bennie Harrison The following is a schedule of the mortgage note payable to Bennie Harrison: Remaining Principal Interest 1994 $1,000 S 195 1995 1,000 130 1996 1,000 65 SRO,0 $ 390 Principal and interest (at 6 1/2%) are due annually on January 31. The balance is collateralized by Water Fund land. PRINCIPAL BALANCE GENERAL LONG-TERM DEBT 9/30/93 I Mortgage Payable, collateralized by first ! mortgage on sports complex real estate, j due in monthly payments of $570, interest I at 74.2% of prevailing prime rate S 70,930 Accumulated unpaid vacation & sick pay accrual 37,733 Note Payable, collateralized by 1991 Ford Crown Victoria, due in monthly payments of $400, including interest at 9.4% 1,954 Capital lease obligation, collateralized by a fire truck (with a cost carrying value of $49,360), due in annual installments of
$12,493 which includes interest at 8.4% 11,525 Capital lease obligation, collateralized by a fire truck (with a cost carrying value of $123,000), due in semi-annual installments ,
of $8,771 which includes interest at 7.2% 114,729 1 l
$236,871 l
During the year ended September 30, 1993, the following changes ! occurred in the liability reported in the general long-term debt account group: ! BALANCE PRINCIPAL BALANCE l 10/1/92 ADDITIONS REDUCTIQH 9/30/93 Mortgage Payable S 77,770 S
$ 6,840 $ 70,930 )
Notes Payable 6,344 - 4,390 1,954 ) Accumulated unpaid vacation and sick pay accrual 40,945 - 3,212 37,733 , Capitalized lease ! obligations 141,365 - 15,111 126,254 S266,424 S S29,553 S236,871 1 l 19 ,
1 CITY OF BUSHNELL, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 NOTE 9 ACCUMULATED UNPAID VACATION AND SICK PAY BENEFITS Accumulated unpaid vacation and sick pay benefito are accrued when incurred in proprietary funds. Such amounts are not accrued in govern-mental funds. At September 30, 1993, governmental fund liabilities included $37,733 in vacation and sick pay. Accumulated unpaid vacation and sick pay in Enterprise Funds are as follows: 9/30/93 9/30/92 Electric Utility Fund $11,857 $ 9,214 Water Utility Fund 8,576 6,658 Sanitation Fund 1,369 2,223
$21,802 $18,095 City policy as of September 30, 1993, is to allow up to a maximum accumulation of 1,040 hours of sick leave. Upon voluntary termination 50 percent of the accumulated hours are paid to the employee (75 percent for long-term employees with twenty or more years of full-time service). The city accrues 100 percent of unpaid vacation pay and 50 percent of accumulated unpaid sick pay at the employee's current pay rate.
NOTE 10 ELECTRIC POWER AGREEMENTS i
' Crystal River Power Unit #3 Participation Agreement:
The city is a participant in an agreement with Florida Power Corpora-tion which was entered into on July 31, 1975. Under terms of the agreement, the city acquired a 0.0388% ownership interest and genera-tion entitlement share in the nuclear steam electric generating unit. Participants are entitled to energy output of the unit based upon their respective generation entitlement share. Florida Municipal Power Agency: The city is a member of the Florida Municipal Power Agency (FmPA) which is a joint action agency formed by a number of Florida municipalities for the purpose of providing electric power alternatives for its members. FMPA is a nonprofit, joint action agency. Formed pursuant to Florida Statutes, FMPA has the authority to undertake joint power supply projects and to issue tax-exempt bonds or other obligations to finance or refinance the costs of such projects. Due to the diverse needs of Florida's municipal electric systems, FMPA was established as a project-oriented agency. Under this structure, each member has the option whether or not to participate in a project. Members may choose to participate in more than one project; however, each of the Agency's five projects is independent from the others, and no revenues or funds available from one project can be used to pay the costs of any other project. The City has elected to participate in the "All Requirements Project", which supplies all the City's power requirements including load regula-tion. In addition, the city has elected participation in the " Pooled i { Loan Project" in which FMPA issues debt with members, then loans the money to individual systems to finance utility related projects. 20 1
i l CITY OF BUSHNELL, FLORIDA l NOTES TO FINANCIAL STATEMENTS
- SEPTEMBER 30, 1993 l NOTE 11 PENSION FUND 1
All full-time employees participate in the State of Florida Retirement System, a multiple employer public Employee Retirement System (PERS). 4 The Florida Retirement System provides retirement, disability, or death benefits to 119,758 retirees statewide and has 545,953 members. The , Summary Plan Description of the Florida Retirement System should be j referred to for a complete plan description. 3 j The payroll for employees covered by the System for the year ended
- September 30, 1993 was approximately $480,526; the City's total payroll was approximately $524,000.
I Regular class employees, which includes all employees except law enforcement officers and firefighters who have attained age 62 completing 10 or more years of service, or regardless of age completing 30 years of service are eligible for retirement benefits. The calcula-3 tion of monthly benefits is based on average final compensation (AFC) 1 as defined in the plan. Retirement benefits range from 1.60% of AFC per 1 year of service to 1.68% of AFC based upon retirement age or length of j service. ) Special risk class employees, which includes law enforcement officers
- and firefighters who have attained age 55 completing 10 years of 4
special risk service, or age 52 with 25 years special risk service, or j 25 years continuous special risk service regardless of age, or 30 years
; of any creditable service regardless of age are eligible for retirement benefits. The calculation of monthly benefits is based on AFC and range j from 2.00% per year of service to 3.00% of AFC based upon service period.
I Active employees who become disabled and have completed the length of service as defined in the plan receive a minimum benefit of 42% of AFC f for in-line-of-duty and 25% of AFC for regular disability. If an active employee dies in the line-of-duty, a member's spouse will receive a monthly benefit of one-half the member's monthly salary at death for his or her lifetime until remarriage. If the spouse dies j without remarrying, the benefit will continue to the member's children i until the youngest reaches age 18, or until married, if earlier. If ' employee is terminated by death other than in-line-of-duty before completion of 10 years of service, the designated beneficiary will 4 receive a refund of any retirement contributions. If the member has 10 } or more years of service, the surviving spouse or eligible beneficiary j may receive a refund of contributions paid by the member or a lifetime monthly benefit calculated as though the member had retired on the date of death. Retirement coverage is employee non-contributory. Employers pay all i contributions. Employer contributions for the fiscal year ended i September 30, 1993 were 16.51% for regular members, 19.48% for senior management, and 26.35% for special risk members, and totalled $97,673. { The " pension benefit obligation" is a standardized disclosure measure 8 of the present value of pension benefits, adjusted for the effects of j projected salary increases, estimated to be payable in the future as j a result of employee service to date. The measure is the actuarial 4 l present value of credited projected benefits and is intended to help users assess the System's funding status on a going-concern basis, i assess progress comparisons among PERS and employers. The System does not make separate measurements of assets and pension benefit obligation for individual employers. The pension benefit obligation at July 1,
- 1992 (the date of the latest actuarial valuation) for the System as a
- whole was $37.9 billion. The System's not assets available for 21 i
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CITY OF BUSHNELL, FLOR 2DA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 NOTE 11 PENSION FUND (Continued) j benefits on that date (valued at market) were $28.8 billion, leaving
- an unfunded pension benefit obligation of $9.1 billion. The City's l fiscal year 1993 contribution as a percent of total contributions .
required of all participating entities has not been determined. l l Ten year historical trend information presenting progress in accumulat- l ing sufficient assets to pay benefits when due is presented in the PZRS i June 30, 1992 Annual Report. NOTE 12 OTHER DISCLOSURES j Deficit Retained Earninos of Individual Funds: None Seament Information for Enterprise Funds: The City maintains three enterprise funds which provide electric, water , and sanitation services. Segment information as of September 30, 1993 is as follows: ELECTRIC WATER J UTILITY UTILITY SANITATION
- FUND FUND FUND TOTAL Operating Revenues $1,402,282 $ 274,478 $165,953 $1,842,713 Depreciation 60,629 46,515 5,346 112,490 l I operating Income (Loss) 312,713 68,306 28,668 409,687 operating Transfers In (Out) (187,000) (20,000) (10,000) (217,000)
Net Income (Loss) 125,713 48,306 18,668 192,687 Current Year Capital contributions - 40,544 - 40,544 Property & Equipment Additions 197,922 81,913 79,089 358,924 Total Assets 2,052,931 1,381,261 167,967 3,602,159 Not Working Capital 217,203 123,560 50,345 391,108 l Bonds Payable Not I
; Payable from l i operating Revenues 122,413 19,931 -
142,344 Total Equity $1,441,042 $ 974,046 $119,358 $2,534,446 Interfund Receivable /Payables Receivable Payable General Fund S 538 Water Utility Fund 14,521 I Electric Utility Fund $15,059 . $,15,059 $15,059 l 4 22
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CITY OF BUSHNELL, FI,ORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1993 NOTE 12 OTHER DISCLOSURES (Continued) Interfund Transfers: IN OUT General Fund $217,000 $ - Electric Fund - 187,000 Water Utility Fund - 20,000 Sanitation Fund - 10,000
$217,000 $217,000 Allowances for Doubtful Accounts:
Electric Utility Fund $ 1,000 Water Utility Fund 500 i Sanitation Fund 500
$ 2,000 Excess of Expenditures Over ADoropriations in Individual Funds: BUDGET ACTUAL VARIANCE community Development Block Grant Fund $259,024 $3222 512 $ (63,488) l Evergreen Cemetery Fund $ 15,000 $_18,785 $ (3,785) i l
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4 i i 4 COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS ] t
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1 i l GENERAL FUND I The General Fund is used to account for resources tradition-ally associated with governments which are not required to be accounted for in another fund. The General Fund receives a greater variety and number of taxes than any other fund. The City of Bushnell, Florida General Fund directly services general long term debt. 1 l 1 l l l l l
i I CITY OF BUSHNELL, FLORIDA A-1 GENERAL FUND COMPARATIVE BALANCE SHEETS SEPTEMBER 30, 1993 AND 1992 i ! 1993 1992 I ASSETS Cash $ 386,010 $ 230,488
- Utility Taxes and Franchise i Fees Receivable 40,813 33,336
! Due From Other Governments 51,548 17,053 Due From Other Funds 538 - Inventories, at Cost 495 559 i j Total Assets $ 479,404 $ 281,436 I )j LIABILITIES AND FUND BALANCES Liabilities:
) Accounts Payable $ 84,158 $ 53,318 Accrued Liabilities 11,298 9,101 4 Deposits 980 900 l Deferred Revenue 2,272 2,686 Total Liabilities 98,708 66,005 Fund Balances:
Reserve for Petty Cash 650 750 Reserve for Inventories 495 559 ' Reserve for Drug Interdiction 43,948 33,115 Reserve for Transportation 48,336 - Fund Balance--Unreserved 287,267 181,007 Total Fund Balances 380,696 215,431 Total Liabilities and Fund Balances $ 479,404 $ 281,436 1 1 k 24 __ .- . ..- - .--.\
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CITY OF BUSHNELL, FLORIDA A-2 GENERAL FUND COMPARATIVE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES YEARS ENDED SEPTEMBER 30, 1993 AND 1992 1993 1992 Revenues: Taxes S 407,466 $ 293,004 Licenses and Permits 21,039 14,987 Intergovernmental 372,417 321,596 Charges for Services 1,632 2,250 Fines and Forfeits 53,826 50,271 Miscellaneous Revenue 45,126 23,872 Total Revenues 901,506 705,980 Expenditures General Government 208,491 209,553 Public Safety 417,381 507,286 Physical Environment 9,964 8,336 Transportation 132,729 114,909 Economic Environment 11,000 11,000 Culture and Recreation 173,512 95,070 Total Expenditures 953,077 946,154 Excess (Deficiency) of Revenues Over (Under) Expenditures (51,571) (240,174) Other Financing Sources Operating Transfers In: Electric Utility Fund 187,000 187,000 Water Utility Fund 20,000 10,000 Sanitation Fund 10,000 10,000 Loan Proceeds - 122,257 Total other Financing Sources 217,000 329,257 Excess (Deficiency) of Revenues and Other Financing Sources Over (Under) Expenditures 165,429 89,083 Fund Balances October 1 215,431 126,694 Increase (Decrease) in Reserves (164) (346) Fund Balances September 30 $ 380,696 $ 215,431 25
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A-3 CITY OF BUSHNELL, FLORIDA (Page 1 of 2) GENERAL FUND COMPARATIVE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES--BUDGET AND ACTUAL YEARS ENDED SEPTEMBER 30, 1993 AND 1992 VARIANCE VARIANCE 1993 FAVORABLE 1992 FAVORABLE BUDGETED ACTUAL (UNFAVORABLE) BUDGETED ACTUAL (UNFAVORABLE) Revenues: Taxes S 380,252 $ 407,466 $ 27,214 $ 272,487 $ 293,004 20,517 Licenses and Permits 16,207 21,039 4,832 12,212 14,987 2,775 Intergovernmental 316,918 372,417 55,499 290,006 321,596 31,590 Charges for Services 1,700 1,632 (C8) 900 2,250 1,350 Fines and Forfeits 19,000 53,826 34,826 21,550 50,271 28,721 Miscellaneous Revenue 47,000 45,126 (1,874) 17,200 23,872 6,672 Total Revenues 781,077 901,506 120,429 614,355 705,980 91,625 y Expenditures: General Government 214,613 208,491 6,122 213,059 209,553 3,506 Public Safety 418,336 417,381 955 380,922 507,286 (126,364) Physical Environment 11,600 9,964 1,636 6,100 8,336 (2,236) Transportation 148,251 132,729 15,522 121,941 114,909 7,032 Economic Environment 11,000 11,000 - 11,000 11,000 - Culture and Recreation 174,335 173,512 823 88,333 95,070 (6,737) Total Expenditures 978,135 953,077 25,058 821,355 946,154 (124,799) Excess'(Deficiency) of Revenues over (Under) Expenditures (197,058) (51,571) 145,487 (207,000) (240,174) (33,174)
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A-3 CITY OF BUSHNELL, _LORIDA (Page 2 of 2) , GENERAL FUND COMPARATIVE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES--BUDGET AND ACTUAL YEARS ENDED SEPTEMBER 30, 1993 AND 1992 VARIANCE VARIANCE 1993 FAVORABLE 1992 FAVORABLE BUDGETED ACTUAL (UNFAVORABLE) B'JDGETED ACTUAL fUNFAVORABLE) Other Financing Sources: Operating Transfers In: Electric Utility Fund S 187,000 $ 187,000 S - 5 187,000 S 187,000 S - Water Utility Fund 20,000 20,000 - 10,000 10,000 - Sanitation Fund 10,000 10,000 - 10,000 10,000 - Loan Proceeds - - - - 122,257 122,257 Total Other Financing Sources 217,000 217,000 - 207,000 329,257 122,257 Excess (Deficiency) of Revenues y and Other Financing Sources " Over (Under) Expenditures 19,942 165,429 145,487 - 89,083 89,083 Fund Balances October 1 215,431 215,431 - 126,694 126,694 - Increase (Decrease) in Reserves - (164) (164) - (346) (346) Fund Balances September 30 S 235,373 S 380,696 S 145,323 S 126,694 S 215,431 S 88,737 l
A-4 CITY OF BUSHNELL, FLORIDA (Page 1 of 2) GENERAL FUND STATEMENT OF REVENUES ] BUDGET AND ACTUAL l YEAR ENDED SEPTEMBER 30, 1993 i (WITH COMPARATIVE ACTUAL RESULTS FOR THE YEAR ENDED SEPTEMBER 30, 1992) ! l l j VARIANCE PRIOR
- FAVORABLE YEAR REVENUE BUDGETED ACTUAL (UNFAVORABLE) ACTUAL Taxes
i Ad Valorem $ 159,622 $ 180,046 $ 20,424 $ 87,982 l Franchise Fees: Telephone 1,400 1,652 252 1,530 Electric 43,500 44,796 1,296 42,700 Cable TV 5,300 5,613 313 4,969 Utility Service Taxes: Telephone 29,000 30,188 1,188 15,200 l Gas 9,000 12,825 3,825 10,991
; Electric 51,500 52,277 777 50,005 '
Fuel Oil 30 9 (21) 30 City Utility Tax 75,500 7 4, 'a 7 0 (930) 74,358 3 City Utilities Surcharge 5,400 5,490 90 5,239 i Total Taxes 380,252 407,466 27,214 293,004 Licenses and Permits:
; Occupational Licenses 4,200 4,690 490 4,047 j Building Permits 12,000 16,326 4,326 10,933 4
Other 7 23 16 7 i Total Licenses and Permits 16,207 21,039 4,832 14,987 i Intercovernmental Revenue Two Cent Cigarette Tax 15,193 15,133 (60) 16,197 , j State Revenue Sharing 51,667 53,310 1,643 51,627 1 ] Mobile Home Licenses 4,700 4,726 26 4,829 ! I Alcoholic Beverage License 750 848 98 727 , Five Cent Sales Tax 57,676 57,401 (275) 53,908 County Fire Fee 45,000 48,886 3,886 44,232 State Grant - 6,330 6,330 7,449 ] Share of County Occupational License 2,300 2,621 321 2,356 i Rebate on Municipal Vehicles 800 616 (184) 808 j Sumter County Two Cent Gas Tax 138,832 182,546 43,714 139,463 l Total Intergovernmental Revenue $ 316,918 $ 372,417 $ 55,499 $ 321,596 1
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A-4 CITY OF BUSIINELL, FLORIDA (Page 2 of 2) GENERAL FUND STATEMENT OF REVENUES BUDGET AND ACTUAL YEAR ENDED SEPTEMBER 30, 1993 (WITil COMPARATIVE ACTUAL RESULTS FOR TiiE YEAR ENDED SEPTEMBER 30, 1992) VARIANCE PRIOR FAVORABLE YEAR REVENUE BUDGETED ACTUAI, fUNFAVORABLE) ACTUAL Charaes For Services Howing Fees S 1,700 $ 1,632 $ (68) $ 2,250 Total charges For Services 1,700 1,632 (68) 2,250 Fines and Forfeltures Fines and Forfeitures 18,500 16,515 (1,985) 16,772 Police Education 500 510 10 474 Drug Interdiction - 36,801 36,801 33,025 l Total Fines and Forfeitures 19,000 53,826 34,826 50,271 I. Miscellaneous Revenues Interest Earned 5,000 6,391 1,391 4,899 Rent 4,000 3,478 (522) 4,050 Miscellaneous 38,000 35,257 (2,743) 14,923 47,000 45,126 (1,874) 23,872 Total Revenue $ 781,077 $ 901,506 $ 120,429 $ 705,980 / . I 1 a l
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A-5
, CITY OF BUSHNELL, FLORIDA (Page 1 of 5) l GENERAL FUND STATEMENT OF EXPENDITURES 4 BUDGET AND ACTUAL , YEAR ENDED SEPTEMBER 30, 1993
! (WITH COMPARATIVE ACTUAL RESULTS FOR THE YEAR ENDED SEPTEMBER 30, 1992) l VARIANCE PRIOR FUNCTION / ACTIVITY / FAVORABLE YEAR SUBACTIVITY/ OBJECT BUDGETED aglU,M fUNFAVORABLg1 ACTUAL General Government Servicest Legislative: Council Fees S 10,800 $ 10,650 $ 150 $ 10,225 General Insurance 4,028 2,486 1,542 5,686 Rid to Private Agency 1,650 700 950 1,050 Total Legislative 16,478 13,836 2,642 16,961 Financial and Administratives Executive Salary 76,463 76,732 (269) 73,933 l Regular Salary 19,488 19,852 (364) 17,939 Deferred Compensation - 260 (260) - FICA Taxes 7,340 7,431 (91) 6,863 Retirement 18,318 18,304 14 17,637 Workmen's compensation 552 508 44 1,030 Group Insurance 11,568 12,379 (811) 11,208 Professional Services 2,000 1,097 903 13,957 Accounting & Auditing 5,200 2,724 2,476 5,935 Contractual Services 5,150 4,804 346 5,832 Travel & Per Diem 3,100 1,729 1,371 2,175 Communication Services 2,100 2,000 100 2,104 Utilities 2,500 2,738 (238) 2,102 General Insurance 2,886 1,443 1,443 4,916 Other Current Charges 4,040 4,887 (847) 4,717 l office Supplies 1,800 1,592 208 3,463 I Operating Supplies 3,500 5,955 (2,455) 3,190 Repair & Maintenance 750 219 531 252 Books, Publications and Memberships 750 1,125 (375) 555 Capital Outlay 15,075 15,860 (785) - Total Financial and Administrative 182,580 181,639 941 177,808 Legal Counsel 15,555 13,016 2,539 14,784 Total General Government Services S 214,613 S 208,491 S 6,122 S _ 209,553 30
A-5 CITY OF BUSHNELL, FLORIDA (Page 2 of 5) GENERAL FUND STATEMENT OF EXPENDITURES BUDGET AND ACTUAL YEAR ENDED SEPTEMBER 30, 1993 (WITH COMPARATIVE ACTUAL RESULTS FOR THE YEAR ENDED SEPTEMBER 30, 1992) l VARIANCE PRIOR I FUNCTION / ACTIVITY / FAVORABLE YEAR SUBACTIVITY/ OBJECT BUDGETED ACTUAL fUNFAVORABLE) ACTUAL Public Safety: Police Department: Executive Salaries S 34,907 $ 35,031 S (124) $ 33,272 Regular Salaries 116,122 119,454 (3,332) 111,696 Other Salaries 2,000 272 1,728 1,432 Holiday Pay 6,500 6,017 483 5,422 Incantive Pay 3,960 3,388 572 3,674 , FICA Taxes 12,507 12,636 (129) 11,785 Retirement Contributions 42,536 41,240 1,296 39,592 Greap Insurance 26,009 25,513 496 25,089 ' Workmen's Compensation 8,673 5,082 3,591 10,298 Contractual Services 9,199 7,040 2,159 7,642 Travel & Per Diem 3,000 2,529 471 2,436 Communication and Phone 2,000 2,172 (172) 1,467 j Utilities 3,500 3,509 (9) 3,417 Insurance--General 8,653 6,017 2,636 14,128 Repair & Maintenance 6,500 6,748 (248) 5,213 Other Current Charges 1,850 30,188 (28,338) 1,753 Office Supplies 1,100 199 901 913 operating Supplies 12,500 16,603 (4,103) 11,669 Police Education 1,200 815 385 667 Books and Memberships 600 922 (322) 590 Capital Outlay 17,407 3,798 10,609 2,078 Debt Service: Principal 23,111 24,139 (1,028) 7,077 Interest 12,583 10,996 1,587 981 Total Police Department S 356,417 $ 367,308 $ (10,891) $ 302,291 31
l A-5 CITY OF HUSHNELL, FLORIDA (Page 3 of 5) GENERAL FUND l STATEMENT OF EXPENDITURES BUDGET AND ACTUAL YEAR ENDED SEPTEMBER 30, 1993 (WITH COMPARATIVE ACTUAL RESULTS FOR THE YEAR ENDED SEPTEMBER 30, 1992) VARIANCE PRIOR l FUNCTION / ACTIVITY / FAVORABLE YEAR SUBACTIVITY/ OBJECT BUDGETED ACTUAL (UNFAVORABLE) ACTUAL Fire Departments l Executive Salaries $ 3,879 $ 3,891 $ (12) $ 4,097 l Personal Allowances 12,400 8,738 3,662 10,920 l FICA Taxes 296 298 (2) 306 Retirement 1,064 1,105 (41) 1,067 Group Insurance 392 394 (2) 402 l Workmen's Compensation 2,751 2,033 718 4,120 I Contractual Services 400 292 108 385 Communication Services 600 643 (43) 595 Rentals - - - 35 Insurance 5,041 3,414 1,627 8,906 Repairs & Maintenance 5,000 1,379 3,621 4,727 , other current Charges 600 723 (123) 1,919 { Books and Memberships 600 651 576 (51) i Operating Supplies 10,000 8,201 1,799 7,659 Office Supplies - - - 20 Travel & Per Diem l 770 321 449 983 l School & Training 1,100 1,358 (258) 528 Capital outlay 6,247 5,688 559 123,000 Debt Service: Principal - - - 12,857 Interest - - - 8,407 Total Fire Department 51,140 39,129 12,011 191,509 Building Inspecto.*: Regular Salaries 6,780 6,906 (126) 6,932 FICA Taxes 519 528 (9) 530 l Contracted Fee - 2 i (2) 2,500 Safety Inspections 400 319 81 329 Travel & Per Diem 2,880 2,880 - 2,880 Books & Memberships 200 309 (109) 315 Total Building Inspector 10,779 10,944 (165) 13,486 Total Public Lafety $ 418,336 $ 417,381 $ 955 507,286 i 32 i
1 A-5 CITY OF BUSHNELL, FLORIDA' (Page 4 of 5) GENERAL FUND STATEMENT OF EXPENDITURES BUDGET AND ACTUAL YEAR ENDED SEPTEMBER 30, 1993 (WITH COMPARATIVE ACTUAL RESULTS FOR THE YEAR ENDED SEPTEMDER 30, 1992) VARIANCE PRIOR l FUNCTION / ACTIVITY / FAVORABLE YEAR SUBACTIVITY/ OBJECT BUDGETED ACTUAL (UNFAVORABLE) ACTUAL l Physical Environment Cemetery: ' Professional Services S 500 S 635 S (135) S - Utility Service 8,800 7,029 1,771 6,036 Aid to Governmental Agencies 2,000 2,000 - 2,000 Aid to Private Organizations 300 300 - 300 , Total Physical Environment 11,600 9,964 1,636 8,336 1 Transoortation: 1 Road & Street Department: Executive Salary 10,985 9,378 1,607 12,387 Regular Salary 13,467 16,242 (2,775) 12,468 i Other Salaries 750 202 548 1,752 < FICA Taxes 1,928 1,829 99 2,036 Retirement contributions 4,425 3,595 830 4,377 ; Group Insurance 5,126 5,184 (58) 4,685 Workmen's Compensation 1,901 773 1,128 4,120 General Insurance 1,854 1,119 735 2,886 Professional Services 15,000 - 15,000 418 Contractual Services 4,109 6,793 (2,684) 1,973 Repairs & Maintenance 3,650 4,656 (1,006) 9,165 other Current Charges 350 213 137 170 Operating Supplies 3,550 3,564 (14) 6,129 Street Lights - Electricity 31,140 32,022 (882) 29,836 Capital Outlay 50,016 47,159 2,857 22,507 Total Transportation 148,251 132,729 15,522 114,909 Economic Environment: Miscellaneous contribution Sumter County Industrial Development Authority 11,000 11,000 - 11,000 Total Economic Environment S 11,000 $ 11,000 S - S 11,000 ' l 33 I l
A-5 CITY OF BUSHNELL, FLORIDA (Page 5 of 5) GENERAL FUND STATEMENT OF EXPENDITURES BUDGET AND ACTUAL YEAR ENDED SEPTEMBER 30, 1993 (WITH COMPARATIVE ACTUAL RESULTS FOR Ti!E YEAR ENDED SEPTEMBER 30, 1992) VARIANCE PRIOR FUNCTION / ACTIVITY / FAVORABLE YEAR SUBACTIVITY/ OBJECT BUDGETED ACTUAL (UNFAVORABLE) ACTUAL i l Culture and Recreations Library: Aid to Private organizations $ 6,000 $ 6,000 $ -
$ 6,000 Utility Services 475 385 90 351 Total Library 6,475 6,385 90 6,351 Parks & Recreation:
Enecutive Salary 10,985 8,004 2,981 6,522 Regular Salaries 13,467 13,880 (413) 6,357 other Salaries 750 618 132 767 FICA Taxes 1,928 1,719 209 1,051 ; Retirement Contributions 4,425 3,424 1,001 2,275 l Group Insurance 5,126 4,501 625 2,473 ! i Workmen's Compensation 268 1,599 (1,331) 687 l Contractual Services 6,135 6,462 (327) 4,170 l Professional Services 300 - 300 237 l Utilities 11,500 10,842 658 11,193 l Rentals 600 1,270 894 (670) ) Repairs & Maintenance 2,100 1,479 621 2,054 Other Current Charges 1,600 2,765 (1,165) 1,505 Operating Supplies 7,250 10,858 (3,608) 9,563 General Insurance 2,865 1,740 1,125 4,550 i Capital outlay 68,300 67,654 646 5,763 l Debt Service: Principal 6,840 7,410 (570) 6,840 Interest 3,324 3,224 100 4,081 1 Total Parks and Recreation 147,763 147,449 314 70,982 Special Events: Contracted Services 7,000 7,010 (10) 6,500 l Other Current Charges 5,347 4,372 975 5,440 l Operating Supplies 7,750 8,296 (546) 5,797 Total Special Events 20,097 19,678_ 419 17,737 Total Culture and Recreation 174,335 173,512 823 95,070 Total Expenditures 978,135 953,077 S $ $ 25,058_$ 946,154 l 14 I
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SPECIAL REVENUE FUND FINANCIAL STATEMENTS Community Development Block Grant Fund Evergreen Cemetery Fund
i CITY OF BUSIINELL, FLORIDA B-1 SPECIAL REVENUE FUNDS COMBINING BALANCE SIIEET SEPTEMBER 30, 1993 l (WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1992) l COMMUNITY ( DEVELOPMENT EVERGREEN TOTALS BLOCK GRANT CEMETERY SEPTEMBER 30 FUND FUND 1993 1992 ASSETS l Cash S 7,994 $ 2,900 $ 10,894 $ 7,325 I Cash - Escrow 10,079 - 10,079 33,082 4 ( Restricted Assets: Cash - 1,052 1,052 3,354 Investments - 281,000 281,000 270,000 Total Assets $ 18,073 $ 284,952 $ 303,025 $ 313,761 1 1 ( LIABILITIES AND FUND BALANCES I i l Liabilities: Deposits $ -
$ 1,725 $ 1,725 $ 1,575 i
( Retainage Payable 10,051 - 10,051 - Accounts Payable 3,792 - 3,792 - Refund Due Grantor _, 4 , '. 3 0 - 4,230 - Total Liabilities 18,073 1,725 19,798 1,575 Fund Balances: Reserved - 282,052 282,052 310,243 Unreserved - 1,175 1,175 1,943 Total Fund Balances - __283,227 283,227 312,186 Total Liabilities and Fund Balances $ 18,073 $ 284,95g $ 303,025 $ 313,761 1 35
l l l l CITY OF BUSHNELL, FLORIDA B-2 { COMBINING STATEMENT OF REVENUES, EXPENDITURES ' AND CHANGES IN FUND BALANCES { YEAR ENDED SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992) COMMUNITY DEVELOPMENT EVERGREEN TOTALS BLOCY. GRANT CEMETERY SEPTEMBER 30 i FUND FUND 1993 1992 ' Revenues: Intergovernmental I community Development Block Grant - Small Cities Award $ 285,623 $ - S 285,623 $ 85,147 Miscellaneous Revenue - 26,715 26,715 31,811 Total Revenue 285,623 26,715 312,338 116,958 Expenditures Contracted Services 309,347 - 309,347 46,735 Rentals 7,466 - 7,466 1,023 operating and Maintenance - 18,785 18,785 13,925 Other Current Charges 5,699 - 5,699 650 Total Expenditures 322,512 18,785 341,297 62,333 Excess of Revenues Over Expenditures (36,889) 7,930 (28,959) 54,625 Fund Balance, October 1 36,889 275,297 312,186 257,561 Fund Balance, September 30 $ - S 283,227 $ 283,227 $ 312,186 l l 1 1 I 30
CITY OF BUSHNELL, FLORIDA D-3 COMMUNITY DEVELOPMENT BLOCK GRANT FUND COMPARATIVE BALANCE SHEET SEPTEMBER 30, 1993 12.2.2 1992
&SSETS Cash $ 7,994 $ 3,807 Cash - Escrow 10,079 33,082
$ 18,073 $ 36,889 LIABILITIES AND FUND BALANCE Liabilities:
Retainage Payable $ 10,051 $ - Accounts Payable 3,792 - Refund Due Grantor 4,230 - 18,073 - Fund Balance: Unreserved - 36,889 1 Total Liabilities and Fund Balance $ 18,073 $ 36,889 l l 1 l 37
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CITY OF BUSHNELL, FLORIDA B-4 COMMUNITY DEVELOPMENT BLOCK GRANT STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED SEPTEMBER 30, 1993 1221 12.2.2. Revenuent l Community Development Block l Grant - Small Cities Award $ .'85,623 $ 85,147 1 Miscellaneous Revenue - 150 l Total Revenues 263,623 85,297 Expenditures Contracted Services - Housing Rehabilitation 309,347 46,735 Rentals 7,466 1,023 Other current Charges 5,699 650 Total Expenditures 322,512 48,408 Excess of Revenues Over Expenditures (36,889) 36,889 Fund Balance, October 1 36,889 - Fund Balance, September 30 S -
$ 36,889
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l l , CITY OF BUSHNELL, FLORIDA B-5 1 , COMMUNITY DEVELOPMENT BLOCK GRANT l STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 1993 VARIANCE FAVORABLE BUDGETED MIN _UAL fUNFAVORABLE) Revenues: Community Development Block Grant - Small Cities Award $ 303,987 $ 285,623 $ (18,364) Total Revenues 303,987 285,623 (18,364) Enpenditurest Contracted Services - Housing Rehabilitation 259,024 309,347 (50,323) j Rentals - 7,466 (7,466) Other Current Charges - 5,699 (5,699) Total Expenditures 259,024 322,512 (63,488) Encess of Revenues Over Expenditures S 44,963 (36,889) $ (81,852) Fund Balance, October 1 36,889 l l Fund Balance, September 30 $ - l l l l
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l l CITY OF BUSliNELL, FLORIDR B-6 l EVERGREEN CEMETERY FUND l COMPARATIVE BALANCE SHEET l SEPTEMBER 30, 1993 AND 1992 1 1993 1992 l ASSETS ' l Cash $ 2,900 $ 3,518 Restricted Aeoeto Cash and Investmento 282,052 273,354
$ 284,952 $ 276,872 l
l LIABILITIES AND FUND BALANCES Liabilities: Deposits 1,725 1,575 S $, Fund Balances j Reserved: Perpetual Care 280,327 273,354 I Unrecerved 2,900 1,943 ! 283,227 275,297 TOTAL LIABILITIES AND FUND BALANCES $ 284,952 $ 276,872 l l l 40
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CITY OF BUSHNELL, FLORIDA B-7 EVERGREEN CEMETERY FUND COMPARATIVE STATEMENTS OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCES FOR THE YEARS ENDED SEPTEMBER 30, 1993 AND 1992 1993 1992 Revenues: Contributions S 8,127 $ 8,539 Sale of Cemetery Lote 4,400 4,400 Interest Earned 13,998 15,742 Memorial 01fts and Trust 190 2,980 Total Revenues 26,715 31,661 Enpenditures: Operating and Maintenance 18,785 13,925 Total Expenditures 18,785 13,925 Excess of Revenues Over Expenditures 7,930 17,736 Fund Balances October 1 275,297 257,561 Fund Balances September 30 $ 283,227 S 275,297 41
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l CITY OF UUSHNELL, FLORIDA B-8 i EVERGREEN CEMETERY FUND l STATEMENT OF REVENUES, EXPENDITURES AND CHANOES IN FUND DALANCES - DUDGET & ACTUAL FOR THE YEARS ENDED SEPTEMEER 30, 1993 AND 1992 VARIANCE l FAVORADLE BUDGETED ACTUA!4 iUNFAVORABLE) Revenues: Contributions S 8,000 $ 8,127 $ 127 Sale of cemetery Lote 4,400 4,400 0 Interest Earned 15,000 13,998 (1,002) Memorial Gifts and Trust 200 190 (10) Total Revenues 27,600 26,715 (885) Expenditurest Operating and Maintenance 15,000 18,785 (3,785) Total Expenditures 15,000 18,785 (3,785) Excess of Revenues Over Expenditures S 12,600 7,930 $ (4,670) Fund Balances October 1 275,297 Fund Balances September 30 $ 283,227 $ i l i 1 l 42
ENTERPRISE FUND 8 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 governing body has decided that periodic determination of revenues earned, expenses incurred, and/or not income is appropriate for capital maintenance, public policy, management control, account-ability, or other purposes. Certain administrative expenses are paid by the General Fund. I
C-1 CITY OF BUSHEELL, FLORIDA (Page 1 of 3) ENTERPRISE FUMDS COMBINING BALANCE SHEET SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1992) l ELECTRIC WATER TOTALS UTILITY UTILITY SANITATION SEPTEMBER 30 FUND FUND FUND 1993 1992 ASSETS Current Assets:
- Cash and Cash Equivalents S 127,191 S 120,314 S 50,152 5 297,657 5 413,739 Customer Accounts Receivable 199,002 25,064 19,669 243,735 204,751 Allowance for Doubtful Accounts (1,000) (500) (500) (2,000) (2,000)
Due From Other Funds - 14,521 - 14,521 - Inventories, at Cost 54,138 13,582 - 67,720 75,089 Total current Assets 379,331 172,981 69,321 621,633 691,579 i Restricted Assets:
$ Cash and Cash Equivalents:
1 Nuclear Decommissioning 48,595 - - 48,595 42,951 j Debt Service 82,637 13,453 - 96,090 118,561
- Renewal and Replacement 264,051 - -
264,051 207,272 l Customer Deposits 61,928 - - 61,928 57,453 Total Restricted Assets 457,211 13,453 - 470,664 426,237 Property and Equipment, at Cost: Utility Plant in Service 1,798,181 1,567,923 203,474 3,569,578 3,206,714 i Accumulated Depreciation (587,344) (379,763) (104,828) (1,071,935) (960,069) 3 Total Property and Equipment (Net of Accumulated Depreciation) 1,210,837 1,188,160 98,646 2,497,643 2,246,645 ' Other Assets: Loan Cost (Net) 5,552 6,667 - 12,219 12,892 Total Assets S 2,052,931 S 1,381,261 S 167,967 S 3,602,159 5 3,377,353 i _ _ _ _ _ _ _ _ _ ___ _____________________________________- - ____ - _- - __.
f [ l C- 1 l CITY OF BUSHNELL, FLORIDA (Page 2 of 3) ENTERPRISE FUNDS COMBINING BALANCE SHEET SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1992) ELECTRIC WATER TOTALS UTILITY UTILITY SANITATION SEPTEMBER 30 FUND FUND FUND 1993 1992 LIABILITIES AND FUND EOUITY current Liabilities: Accounts Payable S 111,823 S 25,851 S 9,439 5 147,113 S 128,878 Accrued Liabilities 5,919 1,464 773 8,156 15,004 Compensated Absences Payable 11,857 8,576 1,369 21,802 18,095 Due to Other Funds 15,059 - - 15,059 - Current Portion of Note Payable 17,470 13,530 7,395 38,395 1,000 Total Current Liabilities 162,128 49,421 18,976 230,525 162,977 Current Liabilities (Payable From Restricted Assets): s Customer Deposits 61,121 - - 61,121 54,563 Accrued Interest Payable 7,377 1,201 - 8,578 10,767 Current Portion of Bonds Payable 25,800 4,200 - 30,000 50,000 Total Current Liabilities (Payable From Restricted Assets) 94,298 5,401 - 99,699 115,330 Long Term Liabilities: Revenue Bonds Series 1976 (Net of Current Portion and Discount) 171,873 27,983 - 199,856 228,831 Long Term Portion of Note Payable - 2,000 29,633 31,633 3,000 Note Payable - EmPa 183,590 322,410 - 506,000 566,000 Total Long Term Liabilities 355,463 352,393 29,633 737,489 797,831 Total Liabilities 611,889 407,215 48,609 1,067,713 1,076,138 i
C-1 CITY OF BUSHEELL, FLORIDA (Page 3 of 3) ENTERPRISE FUNDS COMBINIWG BALANCE SHEET SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1992) ELECTRIC WATER TOTALS UTILITY UTILITY SANITATION SEPTEMBER 30 FUND FUND FUND 1993 1992 LIABILITIES AND FUND EOUITY (Continued) Fund Equity: Contributed Capital S- 176,382 S 924,281 S 29,449 5 1,130,112 S 1,089,568 Retained Earnings (Deficit): Reserved 362,913 8,052 - 370,965 320,167 Unreserved 901,747 41,713 89,909 1,033,369 891,480 Total Retained Earnings 1,264,660 49,765 89,909 1,404,334 1,211,647 Total Fund Equity 1,441,042 974,046 119,358 2,534,446 2,301,215
?,
Total Liabilities and Fund Equity S 2,052,931 S 1,381,261 S 167,967 $ 3,602,159 $ 3,377,353 i l ? l
_ , - ... - - . ~.- . . _ . . . _ - CITY OF BUSHNELL, FLORIDA C-2 COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS (DEFICIT) - ENTERPRISE FUNDS YEAR ENDED SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992) ELECTRIC WATER TOTALS UTILITY UTILITY SANITATION SEPTEMBER 30 FUND FUND FUND 1993 1992 Operating Revenues: Charge for Services S 1,402,282 S 274,478 $ 165,953 S 1,842,713 S 1,668,326 i Operating Expenses: Purchased Power 813,797 - - 813,797 806,453 Salaries 89,107 64,103 31,598 184,808 175,327 Employee Benefits 36,016 26,611 18,142 80,769 85,111 Professional Servicer. 27,725 12,026 1,621 41,372 62,653 Operating Supplies 32,674 12,688 8,275 53,637 21,924 Other Current Charges 24,067 30,412 9,792 64,271 75,941 Depreciation 60,629 46,515 5,346 112,490 106,238 Landfill - - 62,846 62,846 56,377 g Total Operating Expenses 1,084,015 192,355 137,620 1,413,990 1,390,024 operating Income (Loss) 318,267 82,123 28,333 428,723 278,302 4 Non-Operating Revenues (Expense): Interest Earned 18,887 2,168 1,133 22,188 30,072 Interest Expense (24,441) (15,985) (798) (41,224) (48,388) Total Non-Operating Revenues (Expense) (5,554) (13,817) 335 (19,036) (18,316) i Operating Income (Loss) Before Transfers 312,713 68,306 28,668 409,687 259,986 ! Operating Transfers (Out) (187,000) (20,000) (10,000) (217,000) (207,000) Net Income (Loss) 125,713 48,306 18,668 192,687 52,986 Retained Earnings October 1 1,138,947 1,459 71,241 1,211,647 1,158,661 , Retained Earnings (Deficit) i September 30 S 1,264,660 $ 49,765 S 89,909 S 1,404,334 S 1,211,647
C-3 CITY OF BUSHNELL, FLORIDA (Page 1 of 2) ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992) ELECTRIC WATER TOTALS UTILITY UTILITY SANITATION SEPTEMBER 30 FUND FUND FUND 1993 1992 Cash Flows From Operating Activities: Cash Received From Customers, including Cash Deposits S 1,393,147 S 273,621 S 164,097 S 1,830,865 S 1,695,456 Cash Paid to Suppliers (923,491) (73,563) (101,349) (1,098,403) (1,081,207) Cash Paid to Employees (85,997) (62,185) (32,452) (180,634) Cash Deposits Returned to Customers (175,248) (20,578) - - (20,578) (31,804) Net Cash Provided By Operating Activities 363,081 137,873 30,296 531,250 407,197 Cash Flows From Noncapital Financing Activities: Capital Contributions - Customers - 7,281 - 7,281 4,864 Received From (Paid To) Other Funds 15,059 (14,521) - 538 - Operating Transfers Out (187,000) (20,000) (10,000) (217,000) (207,000) Q Net Cash Used In Noncapital Financing Activities (171,941) (27,240) (10,000) (209,181) (202,136) Cash Flows From Capital and Related Financing Activities: Loan Proceeds 115,127 40,000 155,127 39,785 Loan Cost (5,552) 6,225 - 673 - Purchase of Property and Equipment (197,404) (52,446) (79,350) (329,200) (166,204) Principal Payments (65,745) (130,382) (2,972) (199,099) (89,760) Interest Paid (26,324) (16,291) (798) (43,413) (48,754) Net Cash Provided By (Used In) Capital and Related Financing Activities (179,898) (192,894) (43,120) (415,912) (264,933) Cash Flows From Investing Activities: Receipt of Interest and Dividends 18,887 2,368 1,133 22,188 1 30,072 Net Cash Provided By Investing Activities 18,887 2,168 1,133 22,188 30,072 Net Increase (Decrease) In Cash 30,129 (80,093) (21,691) (71,655) (29,800) l Cash, October 1 554,273 213,860 71,843 839,976 869,776 Cash, September 30 $ 584,402 S 133,767 5 50,152 5 768,321 S 839,976
i C-3 CITY OF BUSHNELL, FI4RIDA (Page 2 of 2) ENTERPRISE FUNDS l' COMBINING STATEMENT OF CASH FLOWS , FOR THE YEAR ENDED SEPTEMBER 30, 1993 (WITH COMPARATIVE TOTALS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992) ELECTRIC WATER TOTALS UTILITY UTILITY SANITATION SEPTEMBER 30 t l FUND FUND FUND 1993 1992 1 l Reconciliation of Operating Income to Net ! j Cash Provided By Operating Activities: , Operating Income (Loss) S 318,267 5 82,133 S 28,333 5 428,733 5 278,302 ! Adjustments to Reconcile Operating Income to i Net Cash Provided By Operating Activities: i j Depreciation 60,629 46,515 5,346 112,490 107,265 Change in Assets and Liabilities: (Increase) Decrease in Accounts Receivable (36,271) (857) (1,856) (38,984) 4,019 ; Increase (Decrease) in Allowance For j Unco 11ectible Accounts - - - - (6,000) i , (Increase) Decrease in Prepaid Expenses - - - - 6,114 l i (Increase) Decrease in Inventory 9,588 (2,219) - 7,369 (693) !
- s Increase (Decrease) in Accounts Payable 7,999 10,972 (736) 18,235 10,688 Increase (Decrease) in Accrued Expenses (6,332) (579) 63 (6,848) 10,580 ,
Increase (Decrease) in Compensated Absences Payable 2,643 1,918 (854) 3,707 (385) ! Net Increase (Decrease) in Customer Deposit 6,558 - - 6,558 (2,693) Total Adjustments 44,814 55,750 1,963 102,527 128,895 Net Cash Provided by Operating Activities S 363,081 S 137,883 S 30,296 5 531,260 $ 407,197 i t
l 4 i l 1 1 AGENCY FUND FINANCIAL STATEMENTS Bail Bond Fund l
1 CITY OF BUSHNELL, FLORIDA D-1 ) AGENCY FUND l BALANCE SHEET SEPTEMBER 30, 1993 1 (WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1992) l SEPTEMBER 30 1 1993 1992 ASSETS Cash S 2,419 $ 2,686 1 I Total Assets 2,419 2,686 S $ ) i LIABILITIES l Liabilities: Deposits $ 2,419 2,686 l Total Lich'lities S 2,419 $ 2,686 49
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1 l l l l I 1 l l l l l l l SUPPLEMENTARY INFORMATION l l l l l
3425 Lake Center Dr., Ste.11 David Logan, CPA PA Mount Dora, FL 32757 Certified Public Accountant 3 04 383 5441 1 INDEPENDENT AUDITOR'S REPORT l ON SUPPLEMENTARY SCl3EDULE OF GOVERNMENTAL FINANCIAL ASSISTANCE Honorable Mayor and members of the City Council City of Bushnell, Florida I have nudited the general-purpose financial statements of the City of Bushnell, Florida, as of and for the year ended September 30,1993smd have issued my report thereon dated February 16,1994. Dese general purpose financial statements are the responsibility of the City of Bushnell, Florida's management. My responsibility is to express an opinion of these general-purpose financial statements based on my audit. I conducted my audit in accordance with generally accepted auditing standards and Government ! Auditing Standards, issued by the Comptroller General of the United States. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general-purpose financial statements. An audit also i includes assessing the accounting principles used and significant estimates made by management, as l well as evaluating the overall financial statement presentation. I believe that my audit provides a l reasonable basis for my opinion. ' My audit was made for the purpose of forming an opinion on the general-purpose financial statements of the City of Bushnell, Florida, taken as a whole. The accompanying Schedule of l Governmental Financial Assistance is presented for purposes of additional analysis and is not a required part of the general-purpose financial statements. The information in that schedule has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in my opinion, is fairly presented in all material respects in relation to the general-purpose financial statements taken as a whole.
,00A N David Logan, CPA PA Mount Dora, Florida February 16,1994 50
l l l l CITY OF BUSHNELL, FLORIDA l SCHEDULE OF GOVERNMENTAL FINANCIAL ASSISTANCE l YEAR ENDED SEPTEMBER 30,1993 FEDERAL PASS THROUGH PROGRAM BEGINNING ENDING G
' RANTOR/ PASS THROUGH CFDA GRANTOR *S OR AWARD BALANCE REVENUE BALANCE
', GRANTOR / PROGRAM TITLE NUMBER NUMBER AMOUNT 10-1-92 RECOGNIZED EXPENDITURES 9/3093 Federal Financial Assistance:
- l. U.S. Department of HUD: - i Passed through Florida State Department of Community Affairs: "
l Community Development Block 91DB-9945-
- Grant /Small Cities Program 14-219 70-02-H03 * $375,000 $36,339 $289.853 $g $g30 l (Refund l
- due
- Grantor) j State of Florida Financial Assistance:
. Department of Community Affairs Local Government Land ] Development Regulation 92-LP-50 { Assistance Program 70-02-093 8.440 (6.330) 6.330 - - Total State Financial Assistance $ 8,440 ${6,130) $g $ - $ - i i
- Major Program 3,
I is e i I
3425 Lake Center Dr., Ste, t David Logan, CPA PA Mount Dora, FL 32757 Certified Public Accountant
- f. 904 383 5441 INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS Honorable Mayor and Members of the City Council City of Bushnell, Florida
! have audited the general purpose financial statements of the City of Bushnell, Florida, as of and for the year ended September 30,1993, and have issued my report thereon dated February 16,1994.
I have applied procedures to test the City of Bushnell, Florida's compliance with the following requirements applicable to its federal financial assistance programs, which are identified in the schedule of Federal Financial Assistance, for the year ended September 30,1993:
- 1) Political Activity
- 2) Civil Rights
- 3) Cash management
- 4) Relocation Assistance and Real Property Acquisition
- 5) Federal Financial Reports
- 6) Allowable Costs / Cost Principles
- 7) Drug-Free Workplace Act
- 8) Administrative Requirements My procedures were limited to the applicable procedures described in the Office of Mwgement and Budget's Compliance Supplement for Single Awlits of State and Local Governments. My procedures were substantially less in scope than an audit, the objective of which is the expresion of an opinion on the City of Bushnell, Florida's compliance with the requirements listed in the preceding paragraph. Accordingly, I do not express such an opinion.
With respect to the items tested, the results of those procedures disclosed no materialinstances of noncompliance with the requirements listed in the second paragraph of this report. With respect to items not tested, nothing came to my attention that caused me to believe that the City of Bushnell, Florida, had not complied, in all material respects, with those requirements. However, the results of my procedures disclosed immaterialinstances of noncompliance with those requirements, ; which are described in the accompanying Schedule of Findings and Questioned Costs. I This report is intended for the information of the management, and the City Council. However, this report is a matter of public record and its distribution is not limited.
?[M kN David Logan, CPA PA Mount Dora, Florida ;
February 16,1994 i 1 l 52 ;
CITY OF BUSilNEIA FLORIDA GENERAL REQUIREMENTS SCliEDULE OF FINDINGS AND OUESTIONED COSTS COMMUNITY DEVELOPMENT BLOCK GRANT / SMALL CITIES AWARD 91DB-99-05-70-02-H03 OUESTIONED FINDING COST l l L Cash Management - ' Terms of the Award Agreement restrict cash on hand in amounts of $5,000 or more to five days. I noted an excess balance of
$35,990 which was held for eight days and $2,994 which was held for 123 days. N/A l
l l i 1 53 _ - - . _- . . _ _ . . - . . . . . , . . _ . . _ _ , ~ _ , _ _ . _ _ _ _ _ _ . . . . _ _ . -_ _ _ . . - _ . _ _ . . . _ , . _ . _ . . _ . _ _ . _ , _ _ . . _ . . . . , _ . , _ _
3425 Lake Center Dr., Ste.1 David Logan, CPA PA Mount Dora, FL 32757 Certified Public Accountant ( i F (9 383 5441
- INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS Honorable Mayor and Members of the City Council
- City of Bushnell, Florida I
I have audited the general purpose financial statements of the City of Bushnell, Florida, as of and for the year ended September 30,1993, and have issued my report thereon dated February 16,1994. I have also audited the City of Bushnell, Florida's compliance with the requirements governing types of services allowed or unallowed; reporting; special tests and provisions; and claims for advances and reimbursements that are applicable to each of its major federal financial assistance programs, which are identified in the accompanying Schedule of Governmental Financial Assistance, for the year ended September 30,1993. He management of the City of Bushnell, Florida is responsible for the City of Bushnell, Florida's compliance with those requirements. My responsibility is to express an opinion on compliance with those requirements based on my audit. I conducted my audit of compliance with those requirements in accordance with generally accepted auditing standards; Govemment Auditing Standards, issued by the Comptroller General of the United States; and Office of Management and Budget Circular A 128, Audits of State and Local Governments. Those standards and OMB Circular A-128 require that I plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the specific requirements referred to in the second paragraph occurred. An audit includes examining, on a test basis, evidence about the City of Bushnell, Florida's compliance with those requirements. I believe that my audit provides a reasonable basis for my opinion. The results of my audit procedures disclosed immaterial instances of noncompliance with the requirements referred to in the second paragraph, which are described in the accompanying Schedule of Findings and Questioned Costs. I considered these instances of noncompliance in forming my opinion on compliance, which is expressed in the following paragraph. In my opinion, the City of Bushnell, Florida complied, in all material respects, with the specific requirements referred to in the second paragraph that are applicable to each of its major federal programs for the year ended September 30,1993. This report is intended for the information of management, and the City Council. However, this report is a matter of public record and its distribution is not limited.
- n,CAf PA David Logan, CPA PA Mount Dora, Florida February 16,1994 54
i ! t ! CITY OF BUSHNELL, FLORIDA SPECIFIC REQUIREMENTS SCllEDULE OF FINDINGS AND OUESTIONED COSTS COMMUNITY DEVELOPMENT BLOCK GRANT / SMALL CITIES AWARD 91DB-99-05-70-02-H03 OUESTIONED FINDING COST I l
- 1. A closcout report was submitted with estimated costs remaining for audit fees and administrator fees. The administrator's final fee was incorrectly calculated and the audit fee was over- !
estimated. These amounts have not been disbursed and are reflected in the financial statements as Refund Due Grantor. Administrator's fee $ 2,450 Audit fee 1,750 Balance remaining in cash 30 Refund Due Grantor $ 4,230 l l l l l I l l I l i 55 l l _ _ _ _ . . _ . . . _ . _ _ _ . _ . _ . . . _ . , _ . . , _ _ . . _ , _ . _ . _ , , _ _ . .
l 3425 Lake Center Dr., Ste 1; David Logan, CPA PA Moun' Dora, FL 32757 Certified Public Accountant ( 0 F 383 1 INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE . BASED ON AN AUDIT OF GENERAL PURPOSE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Honorable Mayor and Members of the City Council City of Bushnell, Florida i . I have audited the general-purpose financial statements of the City of Bushnell, Florida, as of and for the year ended September 30,1993, and have issued my report thereon dated February 16,1994 l I conducted my audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Compliance with laws, regulations, contracts, and grants applicable to the City of Bushnell, Florida, is the responsibility of the City of Bushnell, Florida's management. As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, I performed tests of the City of Bushnell, Florida's compliance with certain provisions of laws, regulations, contracts, I and grants. However, the objective of my audit of the general-purpose financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, I do not express such an opinion. The results of my tests indicate thrt, with respect to the items tested, the City of Bushnell, Florida, complied, in all material respects, with provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to my attention that caused me to believe that the City of Bushnell, Florida, had not complied, in all material respects, with those provisions. I noted no 1 immaterial instances of noncompliance. l l This report is intended for the information of the management, and the City Council. However, this l report is a matter of public record and its distribution is not limited.
,6 M PA David Logan, CPA PA Mount Dora, Florida February 16,1994 l
l 56
3425 Lake Center Dr., Ste.1 David Logan, CPA PA Mount Dora, FL 32757 Certified Public Accountant (904) 383 3500 Fax (904) 383-5441 INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH OMB CIRCULAR A-128 Honorable Mayor and Members of the City Council 1 City of Bushnell, Florida I have audited the general-purpose financial statements of the City of Bushnell, Florida, as of and for the year ended September 30,1993, and have issued my report thereon dated February 16,1994. I have also audited the compliance of the City of Bushnell, Florida, with requirements applicable to major federal financial assistance programs and have issued my report thereon dated February 16, 1994. I conducted my audit in accordance with the generally accepted auditing standards; Government
- Auditing Standards, issued by the Comptroller General of the United States; and Office of Management and Budget Circular A-128, Audits of State and Local Governments. Those standards and OMB Circular A-128 require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement and about whether the City of Bushnell, Florida, complied with laws and regulations, noncompliance with which would be material to a major federal financial assistance program.
In planning and performing my audits for the year ended September 30, 1993, I considered the internal control structure of the City of Bushnell, Florida, in order to determine my auditing procedures for the purpose of expressing my opinions on the financial statements of the City of l
, Bushnell, Florida, and on its compliance with requirements applicable to major programs and to i
' report on the internal control structure in accordance with OMB Circular A-128. This report addret,ses my consideration of internal control structure policies and procedures relevant to ; compliance with requirements applicable to federal financial assistance programs. I have addressed l internal control structure policies and procedures relevant to my audit of the financial statements in a separate report dated February 16,1994. ' 1 The management of the City of Bushnell, Florida, is responsible for establishing and maintammg an '
' internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use of disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles, and that federal financial assistance programs are managed in compliance with applicable laws and regulations. Because in inherent limitations in any internal control :,tructure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate.
57
Honorable Mayor and Members of the City Council Page 2 For the purpose of this report, I have classified the significant internal control structure policies and procedures used in administering federal financial assistance programs in the following categories:
- 1. Procurement
- 2. Claims for Advances and Reimbursements
- 3. Cash Receipts and Disbursements
- 4. Financial Reporting
- 5. General Compliance Requirements
- 6. Specific Compliance Requirements For all of the internal control structure categories listed above, I obtained an understanding of the design of relevant policies and procedures and determined whether they have been placed in operation, and I assessed control risk.
- During the year ended September 30,1993, the City of Bushnell, Florida expended 100 percent of '
its total federal Snancial assistance under major federal financial assistance programs, i I performed tests of controls, as required by OMB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that I considered i relevant to preventing or detecting material noncompliance with specific requirements, general 3 requirements, and requirements governing claims for advances and reimbursements and amounts claimed or used for matching that are applicable to each of the City of Bushnell, Florida's major federal financial assistance programs, which are identified in the accompanying Schedule of Governmental Financial Assistance. My procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, I do not express such an opinion. ! My consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low !cvel the risk that noncompliance with laws and regulations that would be material to a federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. I noted no matters involving the internal control structure and its operation that I consider to be material weaknesses as defined above. I noted other matters involving the internal control structure and its operation that I have reported to the management of the City of Bushnell, Florida in a separate letter dated February 16,1994. i This report is intended for the information of management, and the City Council. However, this report is a matter of public record and its distribution is not limited. N i CN N David Logan, CPA PA Mount Dora, Florida February 16,1994 58
3425 Lako Conter Dr., Sto.1 David Logan, CPA PA Mount Dora, FL 32757 Cortified Public Accountant I Fax (904 383-5441 INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WlTEI GOVERNMENT A UDITING STANDARDS Honorable Mayor and Members of the City Council City of Bushnell, Florida I have audited the general-purpose financial statements of the City of Bushnell, Florida, as of and for the year ended September 30,1993, and have issued my report thereon dated February 16,1994. I conducted my audit in accordance with generally accepted auditing standards and Govemment Atuliting Standards, issued by the Comptroller General of the United States. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. In planning and performing my audit of the general-purpose financial statements of the City of Bushnell, Florida, for the year ended September 30,1993, I considered its internal control structure in order to determine my auditing procedures for the purpose of expressing my opinion on the general-purpose financial statements and not to provide assurance on the internal control structure. 1 The management of the City of Bushnell, Florida is responsible for establishing and maintaining an l internal control structure. In fulfilling this responsibility, estimates and judgements by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. De objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, l projection of any evaluation of the structure to future periods is subject to the risk that procedures l may become inadequate 'occause of changes in conditions or that the effectiveness of the design and i operation of policies and procedures may deteriorate. l 1 For the purpose of this report, I have classified the significant internal control structure policies and procedures in the following categories:
- 1. Cash Receipts j
- 2. Utility Billing
- 3. Payroll
- 4. Purchasing and Inventory Control
- 5. Property and Equipment
- 6. Budgetary Control
- 7. General Accounting Procedures 59
, -_ - , . - . .- .~ -.
Honorable Mayor and Members of the City Council Page 2 For all of the internal control structure categories listed above, I obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and I assessed control risk. I noted certain matters involving the internal control structure and its operation that I consider to be reportable conditions under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to my attention relating to significant deficiencies in the design or operation of the internal control structure that, in myjudgement, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general-purpose financial statements. PROPERTY AND EOUIPMENT
- 1. FINDING 'Ihe City has not established an adequate accounting system for property and equipment and related depreciation. Depreciation is calculated in group total with no provision for current year additions. A system to monitor and record asset disposals is not in place.
- 2. Recommendation - Detail property and equipment records should be automated and a system set up to more accurately calculate and record depreciation on individual assets.
The property custodian should monitor additions and disposals and provide information to the accounting department for entry into the detail records. A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relativel 3 low level the risk that errors or irregularities in amounts that would be material in relation to the general-purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. My consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, I believe none of the reportable conditions described above is a material weakness. I also noted other matters involving the internal control structure and its operation that I have reported to the management of the City of Bushnell, Florida,in a separate letter dated February 16, 1994. 4 This report is intended for the information of management, and the City Council. However, this report is a matter of public record and its distribution is not limited. ' I k n,0N PA . David Logan, CPA PA Mount Dora, Florida February 16,1994 i 60
3425 Lake Contor Dr., Sto.1 David Logan, CPA PA Mount Dora, FL 32757 Cortified Public Accountant I Fax (904 383 5441 INDEPENDENT AUDITOR'S LETFER TO MANAGEMENT Honorable Mayor and Members of the City Council City of Bushnell, Florida I have audited the general purpose financial statements of the City of Bushnell, Florida, as of and for the year ended September 30,1993, as listed in the Table of Contents, and have issued my report thereon dated February 16,1994. I have also issued the INDEPENDENT AUDITOR'S . REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH " GOVERNMENT AUDITING STANDARDS" separately from this report. The following comments are pursuant to the Rules of the Auditor General Chapter 10.550: ! 1. No irregularities were reported in the preceding annual financial audit report.
- 2. Recommendations made in the preceding year's annual financial audit have been followed except for Property and Equipment recommendations.
l
- 3. The City of Bushnell is not, nor at any time during the fiscal year in a state of financial '
emergency as a consequence of conditions described in Section 218.503(1). Florida Statutes. 4. Recommendations to improve the present financial management accounting procedures and internal controls are as follows: A. Pronerty and Eauinment Finding: Detailed property records are being maintained on manual records. Asset acquisitions and disposals are updated to the manual records at year end and the records are summarized and used for preparing the annual financial statement. The manual records may not be sufficient to meet the requirements of Chapter 10.400 Rules of the Auditor General for Local Government - owned Tangible Personal Property. Section 10.450 provides a requirement of information which must be maintained by the property " custodian". This person is defined as the person to whom the custody of City property has been delegated to by the governing unit. Section 10.450 (6) requires the use of control accounts showing the total investment in property and be maintained by each custodian or by each location. Section 10.460 requires that each item of property be permanently marked upon acquisition. 61
Honorable Mayor and Members of the City Council Page 2 l Recommendation: A property custodian should be appointed by the City to safeguard assets and meet the requirements of Chapter 10.400. The requirements of Chapter 10.400 should be studied in detail and property records set up to meet such requirements. Depreciation software should be acquired to account for fixed assets. Relatively inexpensive programs are available which would provide improved control (the City's computer hardware has recently been updated to accommodate such i software). Acquisitions and disposals should be recorded in the detailed property records throughout the year and reconciled to the capital outlay accounts monthly. Summarized transactions should be entered monthly into the General Fixed Assets general ledger. This is a repeat comment from prior years.
- 5. Violation oflaws, rules, and regulation discovered within the scope of the financial audit which may or may not materially affect the financial statements: NONE
- 6. Illegal or improper expenditures discovered within the scope of the financial audit which do or do not materially affect the financial statement: NONE
- 7. Other matters requiring correction which may or may not materially affect the financial statements:
A. Improper or inadequate accounting procedures. NONE B. Failures to properly record financial transactions. NONE C. The financial report filed with the Florida Department of Banking And Finance , pursuant to Section 218.32(1)(b) is in agreement with the annual financial audit report for the year ended September 30,1993. D. Other inaccuracies, irregularities, shortages, and defalcations discovered: NONE This report is intended solely for the use of management, the City Council and State of Florida Auditor General and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report, which is a matter of public record. ( Dd David Logan, PA PA cpp M b Mount Dora, Florida February 16,1994 62
i l City of Tallahassee, Florida 1 i 3 COMPREHENSIVE l ANNUAL FINANCIAL REPORT I l s w, h f, .
.d d b. $11
~
C Oc ~~A_ -ASSEE l l For The Fiscal Year Ended September 30,1993 l 4 i
" Florida's Capital City" 4
I ) l
i l 1 i i i ! COMPREHENSIVE
- ANNUAL FINANCIAL REPORT l
1 i OF THE , i l CITY OF TALLAHASSEE, FLORIDA ! l FOR THE l i ) Fiscal Year Ended September 30,1993 i I 1 i 1 hf's dlH I idM j CIW OF TALLAHASSEE i 4 j PREPARED BY THE l Department of Finance i
CITY OF TALLAHASSEE, FLORIDA COMMISSION-MANAGER FORM OF GOVERNMENT CITY COMMISSION ! DOROTHY INMAN-CREWS, Mayor PENNY SHAW HERMAN, Mayor Pro Tem SCOTT MADDOX, Commissioner DEBBIE LIGHTSEY, Commissioner STEVE MEISBURG, Commissioner CITY MANAGER Daniel A.Kleman CITY AUDITOR CITY ATTORNEY Ricardo Fernandez, CPA James R. English 1 DIRECTOR OF FINANCE CITY TREASURER-CLERK Philip F. Inglese, CPA Robert B. Inzer CONTROLLER ASST. DIRECTOR OF FINANCE Johnny F. Session, CPA David C. Reid, CPA
i l l l I l I 1 l l INTRODUCTORY SECTION 1 l l l l l l l l 1
CITY OF TALLAHASSEE, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED SEPTEMBER 30,1993 IABLE OF CONIEt{IS Plat I. INTRODUCTORY SECTION A-1 Table of Contents A5 Letter of Transmittal A-17 Government Finance Officers Association Certificate of Excellence A-18 City of Tallahassee Organization Chart A-19 Listing of City of Tallahassee Officials
- 11. FINANCIAL SECTION B1 Independent Auditor's Report - Opinion of Independent Certified Public Accountants GENERAL PURPOSE FINANCIAL STATEMENTS (COMBINED STATEMENTS - OVERVIEW):
B-4 Combined Balance Sheet - All Fund Types and Account Groups B-8 Combined Statement of Revenues. Expenditures and Changes in Fund Balances - All Governmental Fund Types and Expendable Trust Funds B 10 Statement of Revenues and Expenditures - Budget and Actual-General Fund B 11 Combined Statement of Revenues. Expenses and Changes in Retained Earnings / Fund Balances - All Proprietary Fund Types and Similar Trust Funds 8-12 Combined Statement of Cash Flows All Propnetary Fund Types and Similar Trust Funds B 14 Notes to Financial Statements J COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP - STATEMENTS AND SCHEDULES: ; GOVERNMENTAL FUNDS GENERAL FUND. C1 Balance Sheet C-2 Schedule of Revenue C-5 Schedule of Expenditures l C-12 Schedule of Transfers l l l SPECIAL REVENUE FUNDS C 13 Combining Balance Shcet ' C-14 Combining Statement of Revenues, Expenditures and Changes in Fund Balances DEBT SERVICE FUND: C-15 Balance Sheet C-15 Statement of Revenues. Expenditures and Changes in Fund Balance CAPITAL PROJECTS FUNDS: C-17 Combining Balance Sheet C-18 Combining Statement of Revenues, Expenditures and Changes in Fund Balances A1
CITY OF TALLAHASSEE, FLORIDA l IABLILQE_COMIEMIS (Continued) I
- Eage
; ENTERPRISE FUNQS D2 Combining Balance Sheet D-6 Combining Statement of Revenues Expenses and Changes in Retained Earnings D-10 Combining Statement of Cash Flows l ELECTRIC FUND.
s U-t4 Balance Sheet D-16 Statement of Revenues, Expenses and Changes in Retained Earnings D 17 Statement of Cash Flows D-18 Schedule of Operating Expense 0-19 Regulatory Schedule of Operating Expense GAS FUND: 0 20 Balance Sheet 4 D 22 Statement of Revenues Expenses and Changes in Retained Earnings D-23 Statement of Cash Flows 0-24 Schedule of Operating Expense D-24 Regulatory Schedu'e cl Opt ratsng Expense SEWER FUND: D-25 Balance Sheet
! D-27 Statement of Revenues, Expenses and Changes in Retained Earnings {
0-28 Statement of Cash Flows 0-29 Schedule of Operating Expense ; D-30 Regulatory Schedule of Operating Expense WAT ER FUND: l D 31 Balance Sheet l D-33 Statement of Revenues, Expenses and Changes in Retained Earnings l 1 D-34 Statement of Cash Flows I D 35 Schedule of Operating Expense D-35 Regulatory Schedule of Operating Expense i A!RPORT FUND-D 36 Balance Sheet D 38 Statement of Revenues, Expenses and Changes in Retained Earnings D-39 Statement of Cash Flows D 40 Schedule of Operating Expense TALLAHASSEE TRANSIT FUND. D-41 Balance Sheet D-42 Statement of Revenues, Expenses and Changes in Retained Earnings D 43 Statement of Cash Flows
, D-44 Schedule of Operating Expense A-2
CITY OF TALLAHASSEE, FLORIDA IABLESECDNIEMIS (Continued) Ease SOLID WASTE FUND. D-45 Balance Sheet D-46 Statement of Revenues. Expenses and Changes in Retained Earnings D-47 Statement of Cash Flows D-48 Schedute of Operating Expense GOLF COURSE FUND: D-49 Balance Sheet D-50 Statement of Revenues Expenses and Changes in Retained Earnings D-51 Statement of Cash Flows INTERNAL SERVICE FUNQS E-2 Combining Balance Sheet E4 Combining Statement of Revenues, Expenses and Changes in Retained Earnings (Deficit) E-6 Combining Statement of Cash Flows TRUST AND AGENCY FUNDS TRUST AND AGENCY FUNDS: F-2 Combining Balance Sheet PENSION TRUST AND NONEXPENDABLE TRUST FUNDS: F-3 Combining Statement of Revenues, Expenses and Changes in Fund Balances F4 Combining Statement of Cash Flows EXPENDABLE TRUST FUNDS: F-5 Combining Statement of Revenues. Expenditures and Changes in Fund Balance AGENCY FUND-F-6 Deferred Compensation Fund - Statement of Changes in Assets and Liabilities GENEflAL FIXED ASSEISACCQUNT GROUE l G-1 Schedute of General Fixed Assets By Sources ! G-2 Schedule of General Fixed Assets - By Function and Activity G3 Schedule of Changes in General Fixed Assets - By Function and Activity GENERA.L10NG IE_R_tLQEBT ACCOUNT GROUE H-1 Statement of General Long-Term Debt A-3 l
CITY OF TALLAHASSEE, FLORIDA IABLE_QE. CONTENTS (Continued) l
\
Es120 1 l l 111. STATISTICAL SECTION (Not Covered By Auditor's Report) 11 Comments on the Statistical Section 1-2 General Government Expenditures by Function and Transfers - Last Ten Fiscal Years 1-2 General Revenues by Source and Transfers - Last Ten Fiscal Years 1-3 Property Tax Levies and Collections - Last Ten Fiscal Years I-4 Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years 1-5 Assessed Valuations, Millage and Taxes Levied and Collected - Last Ten Fiscal Years 1-6 Property Tax Rates - Direct and Overlapping Governments - Last Ten Fiscal Years 1-6 Special Assessment Collections - Last Ten Fiscal Years I-7 Computation of Legal Debt Margin I-8 Computation of Direct and Overlapping Debt l-9 Summary of Debt Service Requirements - Capital Refunding Bonds, Series 1984 l-10 Summary of Debt Service Requirements - Capital Bonds, Series 1989 ! 1-11 Summary of Debt Service Requirements - Capital Bonds, Series 1993A I l-12 Summary of Debt Service Requirements - Capital Bonds, Series 19938 l-13 Summary of Debt Service Requirements - Junior Lien Electric Revenue Bonds. Series 1992A ) 1-14 Summary of Debt Service Requirements - Electric Refunding Revenue Bonds, Series 1992A l l-15 Summary of Debt Service Requirements Electric Revenue Bonds, Series 1992B l l-16 Summary of Debt Service Requirements - Airport Revenue Bonds, Series 1988A l-17 Summary of Debt Service Requirements - Consolidated Utility Revenue Bonds, Series 1991 A l-18 Summary of Debt Service Requirements - Consolidated Utihty Revenue Bonds, Series 19918 l 1-19 Demographic Statistics - For the Years Indicated I-20 Construction Bank Deposits and Property Values - Last Ten Fiscal Years l l-21 Principal Taxpayers l l-22 Schedule of Insurance in Force I-23 Miscellaneous Statistical Data A4
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g* cw r,.wre,ErJ 4 m- .o 3230M 731 90,0< oro r em comm4s.oner c:e< w cm Avder .h eO ccm voo comss- g ymm c~~ W OF TARAHASSEE January 19,1994 The Honorable Mayor-Commissioner, Commissioners, and City Manager City of Tallahassee, Florida Ladies and Gentlemen: The Comprehensive Annual Financial Report of the City of Tallahassee, Florida, for the fiscal year ended September 30,1993, is submitted herewith pursuant to Florida Statutes Chapter 11, Section 45, and Chapter 10.550 and 1J600 of the Rules of the Auditor General of the State of Florida The Comprehensive Annual Financial Report was compiled by the staff of the Finance Department, in close cooperation with the external auditor, and represents the official report of the City's financial operations and condition to the 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 beheve 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 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 affairs have been included. The Comprehensive Annual Financial Report is designed to meet the needs of a broad spectrum of readers and is presented in three sections: introductory, financial, and statistical The introductory section includes the table of contents, this transmittal lotter, the Certificate of Achievement for Excellence in Financial Reporting awarded to the City by the Government Finance Officers Association, the City organization chart, and a listing of City of Tallahassee officials The financial section includes the general purpose financial statements, the combining and individual fund and account group financial statements and schedules, and the independent auditor's report on the financial statements and schedules. The statistical section includes selected financial and demographic information, generally presented on a mu!ti-year basis. The Reportina Entity The City of Tallahassee was incorporated in 1825, twenty years before Florida was admitted to the Union. In 1919, Tallahassee was granted a new City Charter by the State Legislature authonzing our pres 9t Commission-Manager form of government This report includes all funds, account groups, organizations, authontles, and agencies that are controlled by or dependent upon the City, as determined on the basis of budgetary oversight, taxing authority, and the City's obhgation to fund any deficits that may occur. The City provides a full range of municipal services These services include public safety (pohce and fire), construction and maintenance of streets and sidewalks, stormwater management, sohd waste collection, recreation, pubbe improvements, planning and zoning, general administrative services, four utilities (electric, gas, water, and sewer), a mass transit bus system, and a regional airport l Accountina System and Budaetary Control l l 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 habikties are incurred Accounting records for the City's utilities and other enterprises are maintained on the accrual basis Budgetary control is maintained at the department level. Purchase orders which would result in aa overrun of balances are not released until additional appropriations are made available. Open encumbrances are reported as reservations of fund balance at September 30,1993 A-5 l l
In developing and a!tering 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 absolute, assurance regarding the safeguarding of assets against loss through unauthorized use or disposition; and the reliability of financial records for preparing financial statements and maintaining accountability for assets The concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be denved, and , l the evaluation of costs and benefsts requires estimates and judgments by management. All internal control evaluations occur within the above framework. We believe the City's internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions. The City's Auditing Department reviews and appraises the soundness, adequacy, and application of accounting financial, and administrative controls in the City's accounting system. Financial transactions and related data are 4 examined for accuracy, completeness, and authorization. Data processing applications and systems are ! periodically addressed by the internal auditors to assess the adequacy and accuracy of controls Computenzed ( applications are also reviewed to determine that they have been developed occording to the policies, procedures, standards, and guidel:nes of the City. : General Governmental Functions j I The General Fund encompasses the general governmental functions of the City not required to be accounted for in j other funds. The following summary shows actual revenue to support these functions for the current fiscal year and i the change from the pnor fiscal year. increase j Percent (Decrease) Financina Sources Amount of Total From 1992 . l Taxes $23, 264,500 24.42 $(8,852,600) l Licenses & Permits 2,233,900 2.35 178.200 l Intergovernmental Revenues 10,707,200 11.24 1,810,400 Charges for Services 10,010,300 10 51 1,435,900 1 Fines & Forfeitures 1,320,800 1.39 49,500 Miscellaneous & Interest 1.967.500 2 06 1.197.100 SUB-TOTAL 49,504,200 51.97 (4,181,500) Transfers in 45.747.200 48 03 1.091.900 TOTAL $95.251_400 100 00 $(3 089.600) The City's principal sources of local tax revenues are property taxes and public service taxes. In fiscal years 1992 and 1993, the City's property tax, all of which is for operating purposes, was 3 200 mills The related property values subject to taxes showed growth of 3 2 percent, representing $101.7 million in added taxable property. This increase reflects a continual trend of growth as a result of increased property values in existing properties and new construction Taxable assessed values have increased by $750 million over the last five years Collection of property taxes increased by $328,000 over 1992 to $10,123.700 It should be noted that the $8.8 million decrease in taxes was primarily a result of moving the recognition of the local option sales and gas tax revenues from the General Fund to the Capital Projects Fund (see Capital Project Funds section) Without this decrease, collection of taxes in the General Fund actually increased by $2.2 mi! lion Public service taxes on electric, water, and natural and bottled gas are levied at the maximum allowable State rate of 10 percent, and four cents per gallon on fuel oil services within the City. The telecommunications tax, effective April 1,1993, is levied at '7 percent on purchases of intrastate telecommunications services In 1993, total revenue from these taxes reflected an increase of $14 million equivalent to a 141 percent increase over 1992. This growth is attributed to increased utility sales and the expanded tax base from the telecommunications tax Expanding the tax base from telephones only to all telecommunication services accounts for $780.100 of the increased revenues from 1992 to 1993, and the remainder is attributed to increased utility sales Charges for services increased $1,435,900, or 16 8 percent over 1992 The increase was primarily due to the 1993 increase in the direct cost allocation plan used to charge various City departments A-6
I t I The intergovernmental Revenue increase of $1,8 million can be primanly attributed to $1.1 million received from the I State of Flonda related to its share of costs for certain roadway work. I The Miscellaneous Revenue increase of $1.2 million is primarily attnbutable to the application of overhead beginning in the 1993 fiscal year against general government capital projects. The following summary shows the level of funds used in providing general governmental services: Increase Percent (Decrease) Financina Uses Amount Of Total From 1992 _ Expenditures' General Government $13,034,400 13.67 $217,500 Public Safety 35,799,200 37.56 1,718,000 Transportation 9,174,400 9.62 329,500 t Human Services 2,366,000 2.48 567,200 Economic Environment 765,000 0.80 50,500 Physical Environment 2,610,600 2.74 (140,100) Culture & Recreation 7.689.800 8 07 490.400 SUS-TOTAL 71,439,400 74 94 3,233,000 Transfers Out 23.883.600 25 06 f 6.489.900) TOTAL USES $95 323 000 100 00 E3 256 900) l The increases in expenditures for governmental services are generally attnbutable to inflation and meeting the demands of growth in the community. The preceding schedules of Financing Sources and Uses reflect significant Transfers in and Out. Transfers in , primarily represent excess enterprise fund revenues which legally may be used for general governmental purposes Transfers Out are primarily used for debt service, underwnting the operations of certain funds, and capital projects. l l The General Fund acts as a clearing fund and accordingly utilizes funds or transfers them to other funds for their respective purposes. The decrease in transfers out in 1993 is attnbutable primanly to moving the Local Option Sales Tax revenues and Gas Tax revenues to the Sales Tax and Gas Tax Construction Funds (Capital Project Fund type). The City Commission adopted a financing policy that addressed the transfer of monies from the enterpnse funds to the General Fund. The amount transferred is limited to the policy established for each enterprise fund. Included in ) the Transfers Out is $12,864,600 to internally fund capital projects, which otherwise would have to be bonded. This internal funding is in accordance with the City Commission approved Debt Management Policy. In 1993, General Fund sources were $71,600 under General Fund uses. At September 30,1993, the fund balance of the General Fund consists of $4,697,900, with $1,695,400 reserved and $3.002,500 unreserved Special Revenue Funds Special revenue funds account for revenue from special revenue sources which are legally restncted for specific purposes The combined fund balances of these funds for 1993 amount to $14,497,300. An analysis of sources and uses in the special revenue funds follows' Changes In Sept 30,1993 Fund Sourcet, Uses Fund Balances Fund Balances Special Projects Fund $ 5,198.900 $ 4,270,900 $ 928,000 $ 8,235,900 l Stormwater Management Fund 7,082,100 5,624,800 1,457,300 5.996,600 Law Enforcement Forfeiture Fund 88.900 211.800 f122.900) 264.800 TOTAL $12 389.900 $ 10.107.500 $2 262 400 $ 14.497. 300 A-7
~. __- . - - -. .__ _ _ _ 1 l The Special Projects Fund is used to account for Federal, State, local and other revenues that are to be used for j specific general governmental purposes The major revenue source in this fund was the Federally funded Community Development Block Grant program which provided $1,664,000 to the City during 1993. The Stormwater Management Fund was e++W shed to account for fees restricted for stormwater operating and capital costs. The ordinance estabhshing the fee became effective October 1,1986 and M Atal revenues, including interest earnings, collected for fitc91 year 1993 were $7,082,100. The Law Enforcement Forfeiture Fund was estallished to account for forfeitures as prescribed by Chapter 932 of the Florida Statutes. Appropriations from thir, fund can be made only for law enforcement purposes. Total revenues, including interest earnings, were $88.900 for heal year 1993. Capital Projects Funds Capital Projects Funds are used to account for proceeds from general revenue bond issues, local option sales and gas tax collections, transportation impact fee collections, and internally generated funds used to acquire or construct major capital facilities. During 1993, the recording of the local option sales and gas tax revenues was changed to account for such revenues directly within the Sales and Gas Tax Construction Funds rather than the General Fund. An analysis of sources and uses in the capital piojects fund follows: Changes in Sept.30.1993 Fund Sources Uses Fund Ba!ances Fund Balances Capital Improvement $16,285,300 $14,105,100 $ 2,180,200 $42,093,200 Capital Bonds Construction 7,668,200 4,334,500 3,333,700 21,413,100 Transportation Impact Fee 1,357,600 - 1,357,600 4,626,100 Sales Tax 11,207,500 4,407,000 6,800,500 26,930,200 Gas Tax 3.266.000 3.036.600 229.400 1.154.300 TOTAL $39.784.600 $25_883 200 $ 13.901.40g $96 216.900 The sources of funds for the Capital Improvement Fund in 1993 were primarily as a result of $13,671,700 of Operating Transfers in for various capital projects. The capital outlay expenditures of $11.1 million were primarily focused in Transportation Economic Environment, and Culture and Recreation projects Fund balance primanly consists of $19.3 million reserved or encumbered for projects and advances and $22.8 milhon unreserved /undesignated available for future projects The Capital Bonds Construction Fund's primary source of funds in 1993 was the $6,950,600 proceeds from the sale of the $7,700,000 Capital Bonds, Series 19938 Bond proceeds provided a portion of funds necessary to construct the downtown parking garage and related improvements. The majority, $4.1 million, of capital outlay expenditures were for Transportation projects. $21.1 milhon of fund balance is reserved or encumbered for projects. The Transportation impact Fee Construction Fund's primary source of funds was $1,123,800 in Charges for Services and the fund had no capital outlay expenditures for the current year. Fund balance has $4 4 million of unreserved /undesignated funds for future projects. On September 19,1989, Leon County voters, in accordance with Florida Statutes, Chapter 212.055, approved in referendum the implementation of a 1 percent tax on all transactions subject to the State sales tax. The tax is to be spkt between the City and Leon County based upon the distnbution as provided in the Florida Statutes. The tax began on December 1,1989 and will expire November 30,2004. The proceeds of the tax may be expended only on infrastructure, defined as any fixed capital expendsture or fixed capital costs associated with the construction, reconstruction or improvement of public facihties which have a hfe expectancy of five or more years and any land acquisition, land improvement, design and engineering costs related thereto. Capital outlay expenditures were for Public Safety and Transportation projects Revenue was $9.0 million from the City's share of the local option sales tax, as compared to $8.1 milhon in 1992. At year end. $7.3 million of fund balance is reserved or encumbered for projects, and $19 6 milhon unreserved /undesignated fund balance is available for future projects. A-8
= - . ! i i
l According to Florida Statutes Chapter 336, a county may impose a one to six cents local option gas tax upon every
! gallon of motor fuel and special fuel sold within the county in June,1985, Leon County and the City entered into j an interlocal agreement whereby a levy of four cents was approved and is to be split on an equal 50-50 percentage 4
basis In June,1987, the levy was increased by an additional two cents The tax is due to expire September 30, 4 2015 The tax can be used only for transportation purposes. Revenue was $3.2 million from the City's share of the j local option gas tax, as compared to $2.9 milhon in 1992. $622,800 is reserved or encumbered for projects. ) At the end of the fiscal year, completed projects, except for infrastructure assets, are capitalized in the General I Fixed Assets Account Group Ounng 1993, $20,035,974 of such assets was added to General Fixed Assets. As of j September 30,1993, there were projects with an authonzed amount of $46,553,200, with $15,359,200 expended. in progress J Enteronse Funds l l Enterpnse funds are financed and operated in a manner similar to a pnvate business enterprise where the intent of j the governing body is that the cost of providing goods and services on a continuing basis be financed through user charges or where the governmental body has decided that penodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, budget policy, management control,
! accountabikty, or other purposes The City accounts for its Electric, Gas, Water, Sewer, Airport, Tallahassee ] Transit, Sohd Waste, and Golf Course Funds as enterprise operations.
l l
! Operatina income flos_.sj Increase j (Decrease) j 1993 1992 From 1992 Electric $52,251,100 $44,411,700 $7,839,400 1 Gas 2,134,800 1,733,800 401,000
) W ater 5,708,100 3,764,900 1,943,200 j Sewer 1,719.300 1,650,600 68,700 i Airport (17,400) (362,400) 345.000 i Tallahassee Transit (6.053,900) (5.543.600) (510.300) 3 Sohd Waste 510,900 145,400 365,500 Golf Course (605,000) (447,300) (157,700) l i i i Electric Fund j The $7.8 milhon net increase in Operating Income from 1992 to 1993 is primanly due to a rate increase of 4 4
- percent effective August 1,1992 and a 2 5 percent growth in the customer base i
j Gas Fund 1 The $401,000 net increase in Operating ! : m from 1992 to 1993 is pnmanly due to a rate increase of 4.9 percent 1 in 1992 Water Fund i The $1.9 milhon net increase in Operating income from 1992 to 1993 is primanly due to an 8.8 percent rate increase and a 6 percent increase in consumption ) i Sewer Fund a The $68,700 increase in Operating income is the net resutt of an 8 7 percent rate increase offset by a relatively equal percentage increase in operating expenses I I i ! A-9 1 1 ir
l l 1 l l l Airport Fund i The operating loss of $17,400 can be primanly attnbuted to depreciation of $1,1 million on contributed assets . Operating results without this depreciation reflect an increase of $207,500 which is primanly due to increased rental revenues for the new terminal building and an increase in parking lot revenues. Activity at the Airport, as demonstrated by enplanements, remained relatively stable at 427,225 in 1993 compared to 433,686 in 1992. In order to expand the Airport's revenue base, the City Commission, in June 1992, approved the City's application to the Federal Aviation Authonty (FAA) for the implementation of a $3 per enplaned passenger " Passenger Facikty Charge" (PFC) In November 1992, the FAA approved the implementation of this charge. The implementation of this charge allows the Airport to collect a specific revenue source for certain capital projects as approved by the FAA. It is estimated that the net PFC revenue to be collected, dunng the term of the PFC (estimated to be from February 1993 to December 1998), is $8.6 million. For 1993, $575,400 PFC's were collected and recorded as Contributed Capital (not reflected in Operating Revenues). Tallahassee Transit Fund i The City-owned bus system reflects a $510,300 net increase in Operating Loss from 1992 to 1993 Each year the operating loss, exclusive of depreciation and capital purchased, is partially funded by a Section IX operating grant from FTA. In addition, the General Fund subsidized the Tallahassee Transit Fund in the amount of $4,101,800 for ) the 1993 fiscal year. Solid Waste Fund ; The $365,500 net increase in Operating income from 1992 to 1993 is primanly due to a 4.8 percent rate increase. Golf Course Fund The $157,700 net increase in operating loss is primanly due to a 12 percent increase in operating expenses The l , General Fund subsidized the Golf Course Fund in the amount of $922,800 during the 1993 fiscal year. Internal Service Funds Internal service funds are established to account for the financing of goods and services provided by one department or agency to other departments or agencies of the governmental unit on a cost reimbursement basis. The City of Tallahassee accounted for its Reading Billing, and Collection activities, Information Systems Services, ' 1 Accounting, Central Stores, Purchasing, Garage, Human Resources, Pension Administration, Risk Management, Employee Healthcare, and Communications activities as internal service funds in 1993. The expenses associated with these funds are billed to other City departments through allocation methodologies deemed reasonable for each activity. In addition, the City accounts for its Internal Loan Fund as an Internal Service Fund The purpose of the fund is to provide interim and long term financing to other funds of the City. Fiduciary Funds Fiduciary funds are established to account for assets held by the City in a trustee or agent capacity for individuals, private organizations, other governmental units, and/or other funds. Pension Trust Funds - The City maintains a retirement plan for its employees which covers police officers, firefighters, and general employees Benefits vary depending on the particular membership in the plan The City is responsible for funding habikties of the plan based upon actuarial valuations Employees participate in both a defined benefit article and a defined contribution article. At September 30,1993, the City's pension plan had total assets of $295,195.700 in order to obtain the highest possible yield on pension assets, substantially all of the assets are managed via contracts with private investment companies Further details concerning pension expenses, vested benefits, and actuarial assumptions are included in the notes to the financial statements A 10
Expendable Trust Funds Expendable trust funds consist of the following:
. Downtown Improvement Authority Fund used to account for monies appropriated by the Downtown improvement Authority to regulate downtown growth.
. Deficiencies and Emergencies Fund used to provide for unforeseen expenditures of an emergency nature.
. Railroad Fund used to account for the City's fiduciary responsibility of managing the operations of the Railroad Site in accordance with the interlocal agreement (joint venture) between the City and the County.
These funds have total assets of $22.327,100 at September 30,1993. Nonexpendable Trust Fund - The Cemetery Perpetual Care Trust Fund was established pursuant to Commission action to provide for the perpetual maintenance of the City's cemeteries. This fund had total assets of $4,853,000 at September 30,1993. Aaency Fund - The City offers its employees two deferred compensation plans created in accordance with internal Revenue Code, Section 457. These plans are administered by the hternational City Management Association Retirement Corporation (ICMA) and Prudential insurance Company. The ICMA plan is closed for new employees; all new employees may only padicipate in the Prudential plan. This fund had total assets of $7,861,100 at September 30,1993. General Fixed Asset Account Group 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 and Internal Service Funds Governmental accounting dictates that 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 accounting principles, the City of Tallahassee does not record depreciation in the General Fixed Assets Group of Accounts. As of September 30,1993, the City of Tallahassee has $98,407,300 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. Debt Administration At September 30,1993, the City had outstanding $49,980,000 of Capital Revenue Bonds, payable from specific general fund revenue sources other than ad valorem taxes; $118,872,300 of Electric Revenue Bonds, payable from revenues of the Municipal Electric System, $49,160,000 of Consolidated Utility System Revenue Bonds, payable from revenue of the Consolidated Utility System which consists of the Gas, Water, Sewer, and Stormwater operations; and $11,885,000 of Airport Revenue Bonds, payable from revenues of the Airport. The City has no general obligation debt (debt secured by ad valorem taxes) outstanding In addition to fixed capital debt outstanding, the City has outstanding loans from the Sunshine State Governmental Financing Commission (SSGFC) in the amount of $21,699,700; these loans are non-revenue specific with a covenant to budget and appropriate non ad valorem revenues. Dunng fiscal year 1993, the City issued $75,700,000 Electric Refunding Bonds, Series 1992A, to accomplish refunding a portion of the Junior Lien Electric Refunding Revenue Bonds, Series 1985, and issued $40,090,000 Electric Revenue Bonds, Series 1992 B, for planned capital improvements to the electric system. In addition, $18,770,000 Capital Bonds, Series 1993A, and $7,700,000 Capital Bonds, Series 1993B, were issued to accomplish refunding a portion of the Capital Bonds, Series 1989, and provide a portion of funds necessary to construct the downtown parking garage and related improvements. All requirements mandated by bond covenants have been met Actual debt service coverge as compared to required debt service coverage and ratings assigned to the City's bonds by independent nationally recognized agencies are usefulindicators for evaluating the City's debt position. A-11
The City's indicators are, as follows:
. Debt Service Coveraae Debt service coverage demonstrates the City's abikty to generate revenues sufficient to provide for the payment of debt service. As seen below, the City's debt service coverage is generally well above the amounts required.
Actual Reauired Capital Revenue Bonds 4.07 1.50 Electric Revenue Bonds 5.29 1.40 Consolidated Utility System Revenue Bonds 6.00 1.15 Airport System Revenue Bonds 2.05 1.25
. Ratinas Ratings for the City's bonds are assigned by independent nationally recognized agencies. These ratings have a significant influence in establishing the rate of interest expense the City must pay when the bonds are sold Such ratings for the City's debt have been consistently judged to be of good investment quality.
Ratings by the two major rating agencies shown below for each series of outstanding long-term bonded debt continue to demonstrate the good investment quality of the City's bonds. Moody's Standard & Poor's Capital Revenue Bonds 1993A and 19938 Aaa AAA Capital Revenue Bonds 1989 A1 A+ Capital Refunding Bonds 1984 A1 AAA Electric Refunding Revenue Bonds Aa AA-Electric Revenue Bonds Aa AA-Consolidated Utility System Revenue Bonds: Series 1991 A Aaa AAA Series 19918 Aa AA-Airport System Revenue Bonds Aaa AAA Cash Manaaement Proaram The City Charter relative to investment of idle City funds provides for the adoption of an investment policy. In connection with the City Charter, the City Commission adopted an investment policy which provides a wide range of securities from which to choose, including U.S. Treasury Secunties, bankers' acceptances, commercial paper, various government agencies and sponsored corporations, certificates of deposit, open and term repurchase i agreements, and corporate fixed income securities. These instruments provide great flexibility and diversity. The l policy also establishes restrictions that require diversification of investment types and issuers, liquidity and maturity provisions, and standards for rating security issuers. The investment policies enable the City's cash management program to be in step with other innovative municipal investment operations and provides the mechanism for keeping our policies current with the ever changing investment environment. The result of these policies was that the City's general investment portfolio achieved a 5.95 percent effective yield during fiscal year 1993. l Risk Manaaement All insurance except health is administered through the Risk Management Program. The Program is designed to l provide financial protection for unforeseen accident losses through the combination of commercial and self. insurance. A major portion of the insurance program involves self-insurance which is provided for through an internal service fund. The City is currently self-insured in the arras of workers' compensation, general liabihty, 1 A-12 l l
1 police professional liability, and automobile liability. In order to limit exposure, the City has purchased " excess j coverage" for workers' compensation. For other coverages where frequency is low and potential losses are great
, (e g , property and airport liability), the City transfers nsk through the purchase of insurance. Premiums in excess I of claims charged to the various operating funds have been retained in the fund to provide for stability and protection against catastrophic losses in accordance with the City's Financing Policy. It is the City's policy to record actuarially determined incurred-but not reported claims as expenses. i l
Persoectives The economy of Tallahassee is strongly oriented toward governmental and educational activities. The remainder of the demand for labor is almost equally divided into those industry groups that support urban populations and governmental affairs The level of governmental employment has a stabilizing effect on the economy and helps to ( i heep unemployment down Of the work force, 3=8 percent were unemployed in 1993 as compared to the State's d unemployment rate of 6.8 percent. The percentage of employees employed by government has leveled off at approximately 42 percent of the work force This employment mix stabilizes the local economy. The employment rate is one of many economic indicators to government. The issuance of building permits for residential construction is also a strong indicator of the local economy and has bearing on the City's financial condition. The number of construction permits has steadily increased from 1991 to 1993, as follows: ; i 1991 762 ' 1992 972 4 1993 1,074 j increases in construction, as reflected by the increases in building permits, means increases in consumer-based l general revenues and utility revenues and a boost to the local economy. The success of City Commission actions l to bolster the economy is evidenced by factors, such as construction. Based on results from Commission actions, the following actions will be continued. funding economic incentives geared toward job creation; fast-tracking l capital projects to bolster the construction industry; authorizing industrial revenue bonds; maintaining a small business loan program, and the Project 2010 plan with the Chamber of Commerce to investigate ways to better utilize institutions in the community in job creation and development. Property taxes can significantly impact the citizen's perception of economic success. As noted in the section on General Governmental Functions, the City's property tax has remained at 3.2 mills for 1992 and 1993. The following is a comparison of millage rates for the fifteen largest Florida cities for 1993 and 1994-
- _C_ily Population Rate 1993 Rate 1994 Jacksonville 653,206 11.3 11.3 Miami 359,973 11.9 11.8 Tampa 281,837 6.5 6.5 St. Petersburg 239,132 9.0 8.7 i Hialeah 195,579 7.3 7.3 Orlando 169,675 6.1 6.1 Ft. Lauderdale 147,678 5.6 5.6 Tallahassee 129,258 3,2 1?
Hollywood 123,296 6.1 6.1 Clearwater 99,856 5.1 5.1 Miami Beach 93,461 11.8 10.6 Coral Springs 86,327 4.4 4.4 Gainesville 85,587 5.7 5.4 I Cape Coral 79,278 5.8 5. 8 Pompano Beach 72,671 62 6.5 As indicated above, the City enjoys the lowest millage rate of the fifteen largest cities in Florida for 1993 and 1994. Tallahassee's low and stable mi!! age rate should act as an incentive to economic growth and stability, a A-13
The following activities are currently underway or recently completed.
. The groundbreaking for the downtown development project Phase I, the parking garage, of the " Capitol Commons" project is scheduled for early 1994. This downtown development project is expected to encompass a 1,052 car garage, a 750 room hotel, two 100,000 square feet office buildings, a City Hall annex, an 18 hour activity center, the Odyssey (a science center), and a pedestrian-oriented public plaza with retail activity The total project cost could exceed $100 million, of which $19.1 million is estimated to complete Phase I, . The construction of a new $2.1 million municipally-owned animal shelter is to be completed in 1994.
Replacement of the existing aging facility was necessary to satisfactonly meet the City's current growth in animal population and to meet future demands.
. The City has budgeted $10.2 million to purchase an 800 mile trer.ched simulcast system to replace existing VHF and UHF radio communications systems currently being used by the City. The new system will ease channel congestion, improve radio communication coverage and radio frequencies, and provide a common interagency coordination channel. . The City anticipates funding various projects with future bond issues as follows: $12 million in Capital Bonds for the Animal Shelter and Radio Communications Systems (discussed above); $30 million in CUSRB Bonds for various water and sewer projects; and $4.5 million in Mini-Bonds for various Airport projects. . The Tallahassee Sports Council, in conjunction with the Tallahassee Area Convention and Visitors Bureau, has been successful in utilizing the Tourist Development Tax funds to bring the Sunshine State Games, Traditional Tae-Kwon-Do Olympics, Florida Special Olympics, USA National Junior Track and Field Championships, and Tallahassee Pro Tennis Classic to the City of Tallahassee. Each of these events provides the City with regional and national exposure and a positive economic impact. . Dunng 1993, the Bntish Olympic Association chose Tallahassee as its designated host site for training for the 1996 Summer Olympic games to be held in Atlanta, Georgia. Tallahassee v.o chosen from a field of twenty-six cities that included two other finalists - Athens, Georgia and Raleigh-Durham, North Carolina.
Through a joint cultural and educational program, Tallahassee will adorst the British athletes for three years before the Olympics. It is anticipated that this joint program will provide the City with international exposure, a direct positive economic impact, and cultural rewards.
. The City Commission approved the City's entering into lease negotiations with Aero Associates, an aerospace company, for the old airport terminal. The airport will be required to become a free trade zone whereby Aero Associates would import parts free of tanffs. Aero Associates is pursuing a trade deal with a British and Malaysian firm. If the trade deal is successful, the City could become a small aircraft ,
manufacturing hub in a joint international venture that stretches to Malaysia. Aircraft would be built from scratch in Malaysia, then disassembled and shipped to the Tallahassee airport, the American " point of entry." Aero Associates would reassemble the aircraft parts and add American parts. The vision is to give Tallahassee a piece of a cutting-edge aviation market, and enter the City as a player in the global aerospace market, potentially leading to global air traffic at the Tallahassee airport.
. The City, in a joint venture with the County, built a railroad station establishing Tallahassee as a connecting city for Amtrak's Jacksonville to New Orleans route The site promotes the City's visibility in the State, and provides its citizens a new and unique transportation option.
. The City has projected to spend approximately $11 million over the next three to five years in order to replace a majority of the City's mass transit fleet. With average age greater than ten years, maintenance costs continue to escalate for rapidly deteriorating fleet vehicles. The vehicle replacement program will ,
produce significant savings in operating and maintenance costs in the long run, and provide better I transportation services to citizens. I A-14
. The City has reserved $2 5 million for a visual arts museum. Realization of this project is reliant on passage of a referendum showing community support If a referendum is not passed by the Fiscal Year 1995 budget, the $2.5 million will be reallocated.
. In May 1993, major reforms to the " Occupational License Tax Act" were signed into law. These reforms allow local governments to completely rewrite their occupational license ordinances and to increase the taxes every other year beyond the initial adoption. To comply with the time limitations for the reforms, the City has approved appointment of an Equity Commission to review the structure of the occupational taxes.
Recommendations from the Commission will be utilized to create an equitable revision of the occupational license ordinance The City anticipates that, over time, the revised ordinance will provide a positive ecnnomic impact to the general government.
. The City is in the process of designing and implementing a system of Total Quality Management to enhance service to its customers which includes the citizens of Tallahassee and the employees of the City.
A new division was established in Employee Relations to accomplish this program. There continues to be economic pressure from increased Federal and State mandates, reduced Federal contnbutions, and reduced reliance on electric revenue support which has led to an aggressive cost recovery approach for the general governmental activities. Fees have risen to approach costs in many activities. In addition, the City has implemented various measures, and is evaluating other measures to be implemented in the future to enhance the financial stability of the government as a whole. Under the Florida Constitution, the State Legislature is the body responsible for determining the taxing authority that units of local government may have. The Legislature has passed legislation providing the means for raising the necessary dollars at the local level. The Legislature will have to continue to provide the means necessary to raise the required revenues as more and more of the problems of local government and State and Federal mandates have to be financed locally. Lndgendent Audit The Florida Statutes and the City's Bond Resolutions require an annual audit of the books of account and financial records 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. Awards The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Tallahassee, Florida for its Comprehensive Annual Financial Report for the fiscal year ended September 30, 1992. In order to be awarded a Certificate of Achievement, the City must pubhsh 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 Achievement is valid for a period of one year only. We believe our current report continues to conform to Certificate of Achievement Program requirements, and we are submitting it to the GFOA to determine its eligibihty for a new certificate. In addition, the City received the GFOA's Award for Distinguished Budget Presentation for its annual budget for the fiscal year beginning October 1,1992. In order to quahfy for the Distinguished Budget Presentation Award, the City's budget document was judged to be proficient in several categories including policy documentation, operations guidance, financial planning and communications. A-15 i
Acknowledaments . 1 I 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, in particular the members of the Accounting Division who actually compiled the report We would also hke 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. 1 Respectfully submitted, ) l Philip F. Inglese, C.P.A 6[_ _. Director of Finance I A-16
l i , . Cer:1::1C a':e 0:~ Achievemen: for Exce. .ence In 71nanCla. Reaor:ing Presented to City o: -,a a nassee, F oric a For its Comprehensive Annual Financial Report 1 for the Fiscal Year Ended , September 30,1992 A Certificate of A:' ment for Excellence in Financial Reporting is presenico Government Finance Officers l Association of the Uinted States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest ^ standards in govemment accounting and financial reporting.
" g. '
President Q"* Executive Director
J CITY OF TALLAHASSEE, FLORIDA 5 1 J k ORGANIZATION CHART I i 1 The People of l> Tallahassee I i ) City Commission 1 4 1 I l ! ! I 4 City Attorney City hianager City Auditor Treasure -Clerk N w l l i Director Deputy City Assistant City hianagement j h!anager hIanager
& Budget
} i I 1 . Downtown Assistant to Energy ,! [,."c g 4-Development the City - Policy i Officer Afanager Officer j l I Director Public Director Water & Information Fire Chief Parks & l -- Police Chief -
- Sewer Officer Recreation i
1 4 1 Director Director Community Director Public Growth Relations General - D.imtor TalTran Works hianagement Officer Services l
~
I Director Director Coordinator DirMor Director Gas Employee - ~ Community - - Utility Planning Code Board Improvement ,; Relations j l. Di m tor Director ! Director ~ Information Director Finance Systems - Aviation Opp rt nity Services 1 i 1
-- ~ ... ._. .__--.- - - __ ..-.- - -- - . __ _
i t 4 CITY OF TALLAHASSEE, FLORIDA e i
- LISTING OF CITY OFFICIALS 1
e j ELECTED OFFICIALS i l Mayor Commissioner . . . . . . . . . . . .. . . . .. .... .. . .. . .... .. .... .... .. Dorothy inman Crews Mayor Pro Tem Commissioner.. . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . .. . . . . . . . . . Pe nn y Shaw He rman ! Commissioner. . . . . . .. . . .. . .. . . . .... .. ..... ......... .. . . .. .. .... Scott Maddox t i Commissioner. .. . .. . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . De b bie Lig h t s e y 4
- Commissioner . . . . .. .. . . . . . . . ... . .. . .. .. . .. Steve Meisburg 4 APPOINTED OFFICIALS i
l City Manager. .. . . . . . .. .. . .. .. .. . . . . .. .. . .. .. Daniel A. Kleman i City Treasurer Clerk. ... .. . . ... . .. . .. . . . . . . .. . . Robert B. Inzer i City Auditor . . . . . . . . . . . . . .. . . . . . .. .Ricardo Fernander
, City Attorney.. . . . . . .. . ,, . . . .. .. ... .. .. . .. . .. James R. English 4
", ASSISTANT AND DEPUTY CITY MANAGER I Assistant City Manager.. . . .. .. . .. .. .. . .. .. . ... .. .. . Jerry L. Maxwell 1 Deputy City Manager.. . ., .. . . . . .. . ..... . . . ... ... . . .. .. .. .. . Anita Favors 1 4 DEPARTMENT DIRECTORS i
- Aviation . .. . . . . .. . . . . . . . . . . . . . . Charles F. Cuthbertson 1 1 i Community Improvement. . . . . . . . . . . . . . . .. ... . . . . . . . ... Diane Dunson '
i
- Electric . . . . . . . .. . . . .. . .. .. . . .. . .. .... . ..J. Sam Bell 1 1 Employee Relations . .. . . . . . . . . . . . . . . . . . . . . .. . . Gloria Hall McNeil l Equal Opportunity . . . . . . . . . . . . . . . .. ... .. ... . .. ... . .. ...Sharon Ofuani I l Finance . . . . . . .. . , .. . ..... . . . .. .. .... . . . .. . . .. Philip F. Inglese d
j Fir e. , .. . . . . . . . . . ... . . ... . . . . ... . . . .. Thomas C. Quillin i Gas Utility. . ... . . . . . . . . . . . . , . . . . ... . . . . ... .. .... Samuel Davis, Jr. I General Services . . , . . . . . . ... . . . . .. ... ..... Kenneth M. Austin Growth Management . . . . . . . . . . . . . ... Henry L. Holshouser, Jr. Information Systems Services . ... . . . . . . . ... . . .. . .. . . . .... ....... Michael R. DiPaolo i a Management and Budget.. . . . . . . . .. ... .. . . . .. . . . ... ... .. . ..... Donald A. Corley i 4 Parks and Recreation . . . . . . . . . . ... .. .. . . . .. . Randy Trousdell 1 Planning .. ... Wendy Grey 4 Police . . . . . . . .. . .. .. . . . ... ... ... . . .. .. Thomas R. Coe Public Works . . ... . . . , . . . . . ... Rhett A. Miller TalTran (Tallahassee Transit).. , , . . . . . . . .... . ... .. John L. Carter Water and Sewer . . . . . .. . ... . .. James H. Peters A 19 J 4 P w' 7M T d w- - - - y em e-* a: .- .+- - --wse- - - ----W-ww-+- t mv8
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i FINANCIAL SECTION i This section contains the following subsections: I Auditor's Report General Purpose Financial Statements l Combining and Individual Fund and Account Group-Statements and Schedules
!#ERNST& YOUNG , ceu,,oom w,oommi, so ,w w o
.m,m,so m .
100 Nwth Tampa Wee, P() Bos 7.li) M ea l ion. t i i mo t Report of Independent Certified Public Accountants Honorable Mayor, City Commissioners and City Manager City of Tallahassee, Florida We have audited the accompanying general purpose financial statements and the electric, water, sewer, gas and airport individual fund financial statements of the City of Tallahassee, Florida, as of and for the year ended September 30,1993. These general purpose financial statements are the responsibility of the City of Tallahassee, Florida's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted wr audit in accordance with generally accepted auditing standards and Govemment
- Auditino Standards issued by the Comptroller General of the United States. Those standards require that we plan and I
- erfo m the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
in our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Tallahassee, Florida, as of September 30,1993, and the l results of its operations and the cash flows of its proprietary and similar trust fund types for the year then ended in conformity with generally accepted accounting principles. Also, in our opinion, the individual fund financial statements referred to above present fairly, in all material respects, the financial position of each of those individual funds of the City of Tallahassee, Florida as of September 30,1993, and the results of operations and the cash flows of such funds for the year then ended in conformity with generally accepted accounting principles. 1 Our audit was made for the purpose of forming an opinion on the general purpose financial statements i taken as a whole and on the individual fund financial statements described above. The combining, l remaining individual fund, and individual account group 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 general purpose and the electric, water, sewer, gas and airport individual fund financial statements of the ! City of Tallahassee, Florida. Such information has been subjected to the auditing procedures applied in I the audit of general purpose financial statements and, in our opinion, is fairly presented in all material l respects in relation to the general purpose financial statements taken as a whole. The statistical section has not been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, accordingly, we express no opinion on it. As described in Note I. E. 7 to the general purpose financial statements, the City has corrected errors in accounting for capitalized interest. certain fixed assets and interest income recognition. Y January 19,1994 8-1
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1 1 1 i d i
- GENERAL PURPOSE FINANCIAL STATEMENTS (Combined Statements-Overview)
These basic financial statements provide a summary overview of the financial position of all funds and account groups as well as the operating results of all j funds. They also serve as an introduction to the more detailed statements and schedules'that follow in subsequent sections. l l l I l I 1 l 1 1 i
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v d a l u 1 i ) 4 1 4 Y a 4 1 i i 4 l a J 4 i 1
CITY OF TALLAHASSEE, FLORIDA COMBINED BALANCE SHEET . ALL FUND TYPES AND ACCOUNT GROUPS September 30,1993 , (Continued) l 1 1 Govemmental Fund Types 1 Special Debt Capital General Revenue Service Projects ASSETS AND OTHER DEBITS Assets: 1 Cash and Cash Equivalents . $ 3.998,000 $ 13,127,700 $ 3,586,900 $ 75,520,200
' I investments.. - 644,900 15,827,600 21,238,000 Receivables-Special Assessments Current., - - - 281,900 l Special Assessments - Deferred.. - - - 164,400 Accrued Interest... - - 373,400 76,300 Notes.. 15,000 349,500 - -
Customers . 688.800 - - - Accounts , 1,199,600 774.600 - 256,500 Property Taxes-Delinquent . 82,000 - - - Less- Allowance for Doubtful Accounts . (133,000) - - - Due from Other Govemments.. - - - 10,600 Due from Other Funds - 97,500 - - 144,900
! Advance to Other Funds.. 472,700 - - 892,900 Deposits . - -
64.200 - . Inventory.. 10,300 - - - I Restricted Assets-Cash and Cash Equivafents.. - - - -
- investments . - - - -
Accounts Receivable.. - - - - Notes Receivable . - - - - Due from Other Governments . - - -- - Loans to Other Funds . - - - - Unamortized Bond Issue Costs-. - - - - Fned Assets (Net of Accumulated Depreciation) . - - - - Other Debits:
. Amount Available in Debt Service Funds . - - - -
Amount to be Provided for Retirement of General Long Term Debt. Bonds, Notes, and Other Payables . - - - - l Total Assets and Other Debits,. , ., 3 6.430.900 $ 14.896.700 $ 19.852.100 $ 98.585.700 I l l l The accompanying notes are an integral part of these financial statements-B-4
1 CITY OF TALLAHASSEE, FLORIDA I Fiduciary Totals Proonetary Fund Types Fund Type Account G,nups (Memorandum Only) Intemal Trust and General General Long- September 30. September 30. Enterpnse Service Agency Fixed Assets term Debt 1993 1992
$ 24,611,300 $ 4,160,500 $ 16.801.200 $ - $ - $ 141,805,800 $ 130,929,700 303.821.100 - - 341,531,600 295,597,000
- - - - - 281,900 245,700
-- - - - - 164,400 164.400
- - - - - 449,700 385,500
- - -- - - 364,500 245,900 18.576,500 - - - - 19,265,300 18,488,400 1,149,100 134,100 97,500 - - 3.611,400 3.824.400 i - - - - - 82,000 -
(2,207,600) - - - - (2,340,600) (2,733,300)
-- - 368 600 - - 379,200 1,095,400 6,600 57,400 - -- - 306,400 134,000
- - 8.034,700 -- - 9.400,300 2,990,700
- 6,500 - - - 70,700 69,000 7,543,100 3.701,600 -- - - 11,255,000 11,767.600 83,627,700 41.634.500 - - - 125.262,200 145,627,400 43.263,700 - -- - - 43,263,700 14,201,400 1,499.600 - - - - 1,499,600 1,037,400 6.678.400 -- - - - 6,678,400 6,206,200 I
1,600,800 - -- - -- 1,600,800 1,520.400
- 19 820,100 - - - 19,820,100 20,407,800
- 1,177,600 - -- -- - 1,177,600 1,165,100 526.749,000 11,231,800 1,113.800 98,407,300 -- 647,501,900 598,182,900 4
- -- - - 19.852,100 19,852,100 16,755,700 J
1
.; - - 42.611,700 42,611,700 36.550,500 l $ 714 275.800 $ 90.746 50C , S 330.236.900 $ 98.407,300 $ 62,463.800 $ 1,435,895,700 $
1.310.859.200 4 The accompanying notes are an integral part of these financial statements B-5
l I i l CITY OF TALLAHASSEE, FLORIDA i COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS September 30,1993 (Continued) Govemmental Fund Types LIABILITIES, EQUITY, AND Special Debt Capitat
- OTHER CREDITS General Revenue Service Projects s Liabilities:
Accounts Payable.. $ 1,456,600 $ 399,400 $ - $ 37,300 Due to Other Governments.. - - - 169,500 j Lease Payable.. - - - - j Accrued Leave.. - - - ~ j Contracts Payable . - - - - Retainage Payable.. - - - 1,992,600 Due to Other Funds . __ 53.500 - - - l - Advance from Other Funds . - - - Customer Advances . - - - - Utility Deposits Payable . - - - - Payable from Restricted Assets-Retainage and Accounts Payable.. - - - - . Customer Advances.. - - - - Accrued interest Payable,. - - - - Loans Payable . - - - -
; Claims Payable... - - - -
Deferred Revenue.. - - - - Deferred Compensation Payable.. - - - - Deferred Revenue.. 217,900 - - 169.400 ! Revenue Bonds Payable.. - - - - Unamortued Bond Discount., . i Loans from Other Funds . - - - - 1
- Notes and Loans Payable.. .
I Arbitrage Rebate Payab!e.. - - - - Prepaid Fees Credit Payable.. - - - - , Total Llabilities..... . .. 1.733.000._ 399.400 - 2.368.800 Equity and Other Credits: Contnbuted Capital - - - - Investment in General Fixed Assets ._ ~ ~ ~ ~ Retained Earnings' Reserved _ -- - - - Unreserved.. - - - - Fund Balances: Reserved . 1.695.400 12,198.900 19.852.100 48.489.300
- Unreserved l Designated . - - - -
Undesignated . 3.002.500 2.298.400 - 47.727.600 i Total Equity and Other Credits - 4.697.900 14.497.300 19.852.100_ 96.216.900 Total Liabilities, Equity, and Other Credits... . . $ 6.430.900 $ 14.896.700 $ 19,852.100 $ 98.585.700 The accompanying notes are an integral part of these financial statements. i B-6
CITY OF TALLAHASSEE, FLORIDA
- Fiduciary Totals l Propnetary Fund Types Fund Type Account Groups (Memorandum Only)
Internal Trust and General General Long. September 30. September 30. Enteronse Serwce Agency Fixed Assets term Debt 1993 1992 S 15.485.200 $ 590.600 $ 93,200 $ - $ - $ 18.062.300 $ 15.302.000
- - 39.200 - - 208,700 2,806.800 63 000 - - -
63.000 208,900 5.161,900 1.664.900 - - 7,307,800 14,134.600 13,500,600 5.412,300 -- - - -- 5,412,300 5,198.300
- - - - - 1,992.600 1,344.400 63,700 - 184,200 - - 306,400 134,000 l
! 9.400,300 -- - - - 9.400,300 2,990,700
. -- .- -- .- - 150,200 l 7,263.700 - - - - 7,263.700 6.907.000 6.332,400 - -- - - 6,332.400 6,893,700 l ,
5,600 -- - - - 5,600 80,700 49,900 l
-- 54.200 - - -
54.200 1
- 21.699,700 - - - 21,699,700 21,699.700 l 7.212.100 -- - - 7.212,100 5.651,400 l 400,800 - - - - 400,800 397,600 i
-- -- 7.861,100 - - 7,861,100 6,718.900 l
-- - - -- - 387,300 281,400 I 179,917,300 49,980,000 229,897,300 198,819.500 l
(2.531,700) -- -- - - (2,531,700) (2,939.200) ' 13.185.300 1.750.300 - - 4.875,500 19.820.100 21,463.500 l
-- - - - 300,500 300,500 338.400 l 93.700 - - - - 93,700 - l 514.800 - - - --
514.800 719.400 240.705.300 33.043.800 8.177,700 - 62.463.800 348.891.800 308.717,800 l 71,330.200 6.606.300 - - - 77,936.500 74,485,100 l
-- -- - 98,407,300 - 98 407,300 92,102,400 130.803.200 31,645.300 -- -- - 162.448,500 153,446 400 271,437.100 19.451,100 -- - -- 290,888,200 278.281,800
-- - 304.244,100 - -
386.479.800 346,922,100
- -- 053.600 - - 953,600 953,600 16.861.500 - - 69.890.000 55.950.000 473 570.500 57.702.700 322.059.200 98.407.300 - 1.087.003.900 1.002,141,400 $ 714 275,800 $ 90 746 500 $ 330 236 900 $ 98.407.300 $ 62.463.800 $ 1.435.895.700 $ 1.310 859.200 The accompanying r'otes are an integral part of these financial statements B7
l CITY OF TALLAHASSEE, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS For the Fiscal Year Ended September 30,1993 Govemmental Fund Types Special Debt General Revenue Service Revenues: Special Assessment Revenues.. $ - $ - $ - Taxes-, 23,264.500 - - Licenses and Permits- 2,233,900 - - Intergovemmental Revenues., 10,707,200 2,153,000 - Charges for Services . 10.010,300 6,776,700 - Fines and Forfeitures . 1,320.800 70,800 - Interest Eamed . 295,700 349,800 958,000 Miscellaneous Revenues-. . 1,671,800 92.300 - Total Revenues.... . . - ........... 49.504.200_ 9.442.600 958.000 Expenditures: Current General Government.. 13.034,400 227,700 - Public Safety.. 35,799,200 247,900 - Transportation-. 9,174,400 1,014,500 - Human Services.. 2.366,000 632,900 - Economic Development. 765,000 1,320,000 - Physical Environment . 2,610.600 5.821,400 - Culture and Recreation . 7,689,800 98,200 - Distnbution of Earnings-. - - - l Capital Outlay-. - 511.000 - l Debt Service ! Principal Retired . -- - 16,932.100 l Interest and Fiscal Charget. - - 3,582.800 i Advance Refunding Escrow.. - - 1.481.600 I Total Expenditures 71,439.400 9,873.600 21.996.500 Excess of Revenues Over (Under) Expenditures.. . . . . . . . . . . . . , (21,935.200) (431.000) (21.038.500) Other Financing Sources (Uses): Proceeds from Loans . - - - Debt Proceeds .- - - 19,670,000 1 Operating Transfers in.. 45.747,200 2,927,300 5.014.300 Operating Transfers Out . (23,883.600) (233,900) - Refunding Bond Issuance Costs.. - - (549.400) Total Other Financing Sources (Uses).... . 21,863,600 2.693,400 24,134,900 Excess of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses........ .... (71,600) 2,262.400 3,096.400 Fund Balances October 1.. 4,769.500 12.234,900 16,755,700 Residual Equity Transfer in . - - - Residual Equ;ty Transfer Out.. - - - ? Initial Contnbution by Other Govemments.. - - - ! Fund Balances September 30... . .. . . . . . . . . . . $ 4.697,900 $ 14.497.300 $ 19.852,100 The accompanying notes are an integral part of these financial statements. B8 L_____-__.______ - - . - - -.-.- - - .. ,_-,- - _ - .- , - - - . -
1 CITY OF TALLAHASSEE, FLORIDA Fiduciary Totals Fund Type (Memorandum Only) Capital Expendable September September Projects Trust 30.1993 30,1992 $ 90,700 $ -
$ 90,700 $ 188,200 12.200.400 87.500 35,552,400 32,203.900
- - 2,233,900 2,055,700 856.300 - 13,716,500 11,373,500 1,123.800 - 17,910,800 15,547.000
- - 1,391,600 1,444,300 4,094.200 1,515,400 7,213,100 7,419,100 542.300 585.600 2.892.000 3,872.200 18,907.700 2.188.500 81,001.000 74.103,900
- - 13,262.100 13,569,000
-- - 36.047,100 34.267,200 10 188.900 9,351,500
- - 2,998,900 2,395,300
- - 2,085,000 1,996 700
- - 8,432,000 7,157,900 658.800 8,446,800 7,489,700
- 78,500 78.500 --
22.323.500 - 22.834.500 15,103,600
-- - 16.932,100 600,100
- - 3.582,800 3,602,800
- - 1,481.600 -
22.323.500 737,300 126.370,300 95.533.800 (3.415.800) 1.451.200 (45.369.300) (21.429.900) 254.600 - 254,600 2,650,000 6.083,000 25,753,000 - 13,671,700 1,118.000 68,478,500 74,951,300 (2,692,100) (1,038.500) (27,848,100) (34,587,500) (549.400) - 17,317,200 79.500 66,088.600 43,013,800 13,901,400 1,530,700 20,719,300 21,583,900 75,756,400 26.125,200 135,641,700 115.423,700 6.659,100 100,000 6,759,100 - (100,000) (6.659.100) (6,759,100) (1,365,900)
- 931,200 931,200 -
S 96 216.900 $ 22.028.000 $ 157.292.200 $ 135.641.700 The accompanying notes 6re an integral part of these financial statements B-9
CITY OF TALLAHASSEE, FLORIDA STATEMENT OF REVENUES AND EXPENDITURES . BUDGET AND ACTUAL GENERALFUND For the Fiscal Year Ended September 30,1993 1993 1992 Actual On Variance. Budgetary Favorable Budget Basis (Unfavorable) Actual Actual Revenues: Taxes.. $ 21,940,000 $ 23,264,500 $ 1,324,500 $ 23,264,500 $ 32,117,100 Licenses and Permits.. 2,160,900 2,233,900 73,000 2,233,900 2,055,700 Intergovemmental Revenues - 9.252,500 10,707.200 1,454,700 10,707,200 8,896,800 Charges for Services.. 9,750.500 10.010,300 259,800 10,010,300 8,574,400 Fines and Forfe,tures.. 1,165,200 1,320,800 155,600 1,320,800 1,271,300 Interest Earned.. 292,000 295,700 3,700 295,700 ' 382,300 Miscellaneous Revenues.. 499.300 1,749,800 4,250.500 1,671.800 388.100 Total Revenues.- 45.060.400 49.582,200 4.521.800 49.504,200 53.685,700 Expenditures: Current: General Government... 14.128.600 13,136,600 992,000 13.034,400 12,816,900 Public Safety.. 36,590,300 35.694,700 895.600 35,799,200 34.081,200 Transportation.. 9,814,800 9,176,900 637,900 9,174,400 8,844,900 Human Services.. 2,456,700 2.319,800 136,900 2,366,000 1,798,800 Economic Environment.. 859,700 759,400 100,300 765.000 714,500 Physical Environment.. 2,872,600 2,595.400 277,200 2,610,600 2,750,700 Cutture and Recreation, 7,948.600 7,698.100 250,500 7,689.800 7,199.400 Total Expenditures-. . , . ,, 74.671,300 71,380.900 3.290,400' 71,439.400 68.206.400 , Excess of Revenues Over (Under) Expenditures . (29.610.900) (21,798.700) 7.812,200 (21.935.200) (14.520.700) Other Financing Sources (Uses): j Operating Transfers in., 45,713.800 45.747,200 33,400 45,747,200 44,655,300 Operating Transfers Out.. (16.102.900) (23.883.600) (7.780,700) (23.883.600) (30.373.500) Total Other Financing Sources (Uses).. , . . . . . , , , , 29.610.900 21,863,600 (7,747,300) 21,863,600 14.281,800 2 Excess of Revenues and Other Financing Sources Over (Under) Expenditures i and Other Financing Uses... .. . ...... . ..... $ - $ 64.900 $ 64.900 $ ( 71.600) $ ( 238,900) ! i The accompanying notes are an integral part of these financial statements. B-10 _. _ _ ~ . _ -
CITY OF TALLAHASSEE, FLORIDA Combined Statement of Revenues, Expenses and Changes in Retained Earnings / Fund Balances All Proprietary Fund Types and $1milar Trust Funds For the Fiscal Year Ended September 30,1993 Totals Proenetary Fund Types Fiducary Fund Types (Memorandum Only) Intemal Pension Nonexpendable September September Enterpose Service Trust Trust 30.1993 30,1992 Operating Revenues: Charges for Services .. $ 238 798.800 $ 45,742.000 $ - $ - $ 284.540 800 $ 264,192.300 inv$stment Revenue . - - 15,46 t,600 279.500 15.741,100 18.603.700 investment Gains. Net . - - 5.637.300 - 5.637.300 3.981.300 Contnbutions .. - - 19.904.900 - 19.904,900 19.726.900 Other... - 55 700 40.800 14 700 111.200 73 500 Total Operating Revenues. 238.798 800 45.797.700 41.044 600 294.200 325.935 300 304.577.700 Operating Expenses: Personal Services . 31011900 12 336.600 - - 45.3bO 500 43.957,500 Fossil Fuel - 38.701 300 - - - 38.701.300 40.948,400 Power Purchased .. 33.455,800 - - - 33.455 800 30,421400 Gas Purchased .. 6.059 900 - - - 6.059.900 4.519.300 Matenals and Supphes .. 4.854 100 905.500 - - 5.759.600 5,107.800 Contractual Semces .. 35.879 600 17,624.600 - - 53.504.200 48.619,100 Other Expenses .. 11.782 000 6,929.700 - - 18,711,700 19.416.000 Less Apphed Equipment Charges .. (350.800) - - - (350,800) (649,900) Ospreciation... 19 415 500 3 422.500 - - 22.838.000 19.503.300 Amort:zation .. 339.600 - - - 339.600 206.800 Benefit Payments .. - - 7.295 300 - 7.295.300 6.831.800 Refunds .. - - 1,187.800 - 1,187,800 956.600 insurance ~ - 30,500 - 30,500 13.500 Adtninistration.. - - 978 000 - 978 000 898.200 Totsi Operating Expenses. 183 150 900 41 218 900 9 491.600 - 233 861,400 220.751.800 Operating income.. 55.647.900 4.578 800 31,553 000 294.200 92.073.900 83.825.900 Nonop$ rating Revenues (Expenses): Interest Revenue .. 7.693.000 2.927.200 - - 10.620.200 12.546,700 Gain on the Sale of Surplus Propedy 24.700 - - - 24,700 28.400 Grant Revenue . 1.598 000 - - - 1.590,000 1,339 200 Otner Revenues . 7,701.100 - - - 7,701.100 8,880,100 Interest Expense .. (2.859.500) (722.700) - .- (3.582.200) (5.618 700) Other Expenses .. (3 804 000) - (3 804 000) (848 300) Total Nonoperating Revenues (Expenses)... 10 353 300 2.204 500 - - 12.557.800 16.331 400 incoms Before Operatmg Transfers and Extraordinary item. 66 001.200 6.783 300 31.553.000 294 200 104.631,700 100,157.300 Operating Transfers in. . 6 679.500 100 - - 6.679.600 5.449 600 Operating Transfers Out.. (46 295 300) (1.014 700) -. (47.3 t 0.000) (45.813 400) Incoms Before Extraordinary item.. 26.385 400 5,768.700 31,553.000 294 200 64,001,300 59.793.500 Extraordinary item: Loss on Refunded Bonds (12.784 300) - - (12.784 300) - Net income. 13 601,100 5,768,700 31.553.000 294.200 51.217,000 59 793 500 Oltposition of Net income: Increase in Contnbuted Capital .. (12.700) - - - (12.700) (405.800) Deprecation on Contebuted Assets . 2 251 400 - - - 2 251.400 2 363100 Nit increase in Retained Earnings / Fund Balances. 15.839 800 5,768,700 31,553.000 294,200 53.455,700 61,750.800 Reta:ned Earnings! Fund Ba:ances . October 1. As Restated .. 386,400 500 45 327.700 263.625 200 4.558,800 699 912.200 638,191,400 Transfer of Net Fixed Assets to General Fixed Assets Account Group . - - - - - (1,395.900) Residual Eqwty Transfer . - - - - - 1.365 900 Retaintd Earnings / Fund Balances . September 30. S 402 240 300 $ 51096 400 S 295 178 200 $ 4 853.000 $ 753 367 900 $ 699 912 200 The accompanying notes are an integral part of these finarICial statements. B.11
CITY OF TALLAHASSEE, FLORIDA j Combined Statement of Ceeh Flows j All Proprietary Fund Typee and Similat Trust Funds 1 ] For the Fiscal Year Ended September 30,1993 i l l Totals l Propoetary Fund Types Fiduciary Fund Types (Memorandum Ority) Intemal Pension Nonexpendable Septemcer September
- Enteronse Servce Trust Trust 30.1993 30.1992 )
Increase (Decrease)in Cash and Cash Equivalents:
- Cash Flows from Operating Activities
- .l
- Cash Received irom Customers ., . $ 233.401.300 $ 347.800 $ - $ 14.700 $ 233.783,800 $ 214.730.300 1 Cash Received from Other Funds .. . . , . . . . . . . . - . . . . 5.825.600 46.037.200 - - 5 t.862,800 49 646.700 Employer Contntmtsons - - 12.275.300 - 12,275.300 12.234,700 l . . _
Employee Contnbubons... - - 6.788 600 - 6,788.600 8.686.800 i State Contnbubons -... ..._
- - 644.400 - 844.400 778.800 j Cash Payments to Suppliers for Goods and Services .. (111.254.500) (24.010.600) - - (135.265,100) (126.309.900) ,
Cash Payments to Employees for Services ._ (33.003.600) (12.297.600) - - (45.301.200) (43.683.200) ]j Payments and Loans to Other Funds .. (t 7,560.400) - - - (17.560,400) (18.006,400)
- Benefits Paid... ..m._
- - (1,294.700) - (7,294.700) (6.817,400)
Refunds Pa4. .... ........ - - (1.187.600) - (t,t 87.800) (956.600) Adranistrabve Cost Pad . . . . . . .
- - (1,008,500) -
(1.008.500) (911.700) Not Cash Provided by Operaung Activities 77.408 400 10.078.800 10.417.300 14.700 97.917.200 87.392.100 j Cash Flows from Noncapital Financing Activities: Operabng Transfers in from Other Funds . 6.666.800 100 - - 6.666,900 5.043.800 4' Operabag Grants Rece<ved .. 1.029.300 - - - 1,029.300 1,466,800 Other .. 3.930.700 - - - 3,930.700 8.009.700 f . . - . . . Operahng Transfers Out to Other Funds .. (46.295.300) (t.014.700) - - (47,310.000) (45.813.400) Resafual Equity Transfer .. - - - - - (52.200) i Net Cash Used for Noncapital Financing Activities (34 668.5001 (1.014.600) - - (35.683.100) (31.345.300) 4 Cash Flows from Capital and Related Financing Activities: Receipts from Energy loan Program .. 4.502.300 - - - 4.502,300 4.914.500 Proceeds from Sale of Bonds .. 44.181,500 - - - 44,181.500 - { Advances from Otner Funds .. . . _ . . 7.385.700 - - - 7,385.700 - a Capital Grants Recewed .. 5,654.600 - - - 5.654.600 3.606.900 3 Capital Contnbutes... 12.700 - - - 12.700 405.800 Proceeds from the Sale of Property .. 20.800 - - - 20,800 21,200 Acquisition and Construcbon of Capital Assets . (55,000,300) (2,735.300) - - (57,735.600) 9 6.917,100) l Pnncipal and Refunding Payments .. (35.637,200) (360.700) - - (35.997,900) (4.365,700) Repayment of Advance from Other Funds .. (1.208.200) - - - (1,208.200) (145.800) Fur @ng of Energy Loan Program... (5.260.300) - - - (5,260,300) (5 707,400) i j interest Paid - (12.632.400) (722.700) - - (13,355.100) (7,991,100)
- Payments on Capital Lease... -
(145 900) - - (f 45,900) (648 800) Not Cash Used for Capital and Related Financing Activities (47.980 800) (3.964 600) - - (51.945 400) (86.821.500) l 1 Cash Flows from investing Activities: Proceeds from Sale and Maturit es of Investment Secunbes . 41.133 000 - 258.675 800 - 299.809.700 180.890.000 Receipts of Interest on Investments .. 10.005.100 2.927,200 21,139.700 279 500 34,351,500 36,039.900 Purchase of investment Secunt es _.. (70.196.200) - (297.085.2001 - (367.281.400) (205.287.900) I Net Cash Provided by (Used for) Investing Activities. (19 057 200) 2 927.200 (17.269.700) 279 500 (33.120.200) 11.642.900 l Net increase (Decrease) in Cash and Cash Equiva'ents (24.298.100) 8.024.800 (6.852,400) 294.200 (22,831,500) (19.131.800) Cash and Cash Equr,a?ents at Beginning of Year . 132 537.100 37.770.200 8 329.100 4 558 800 183,195.200 202,327,000 t Cash and Cash Equivalents at End of Year ___ $ 108.239 000 $ 45.795.000 $ 1.478,700 $ 4 853.000 $ 160,363.700 $ 183.195.200 , Classified As: Unrestncted Assets.. .$ 24.611.300 $ 4.160.500 $ 1.476,700 $ 4.853.000 $ 35.101.500 . $ 37,567.800 j
- Restocted Assets.. 83.627,700 41.634 500 - - 125.262.200 145.627.400 l 1.476.700 $ 4.853,000 $ 160.363.70T $ 183.195.200
$ 108 239 000 .$ 45 . .795
- -000- $
l l 1 I The accompanying notes are an integral part of these financial statements l 3 6-12
CITY OF TALLAHASSEE, FLORIDA 1 Combined Statement of Cash Flows All Proprietary Fund Types and $1milar Trust Fands For the Fiscal Year Ended September 30,1993 (Conunued) Totals 3 Prconetaq Fund Tyces Fwfuciary Fund Tyces (Memorandum Onty) l toternal Pens.on Nonetpendab6e Septemcer Septemoet l Enterense serv <e Trust Trust 30 1993 30.1992 Rsconcillation of Operating income to Net Cash Provided by Operating Activities: Ops <ating income . 5 $$ 647.900 $ 4 578 600 $ 31553 000 $ 294 200 1 92.073 900 8 83 825 900 ] Adjustmints to Reconcile Operatmg income to N;t Cash Provided by Operatmg ActMties: l
~
Depreciaton . 19 4 t 5 500 3 422 500 - - 22,838 000 19 503 300 Amortizabon. . 339 600 - - - 339 600 206 600 Provision for Uncoilecttle Accounts 233 400 - - - 233 400 1.243,900 j Chang 1ln Assets and t.labihties:
; (inctsase) Decrease in Accounts Recewaele (1.712 000) 590,100 3 400 - (1,119 400) (3.173 700)
(Increase) Decrease in Other Acccunts Receivatie . 10 600 (2.600) - - 7.800 993.100 Decrease in Oue from Other Funds . 19.100 - - t 9.100 26,100 (Increase) Decrease m Inventory 112.000 403 200 - -
$15 200 (86 000) incr$ase in Accounts Payatie . 3 205.600 1.046.000 600 - 4 252.200 4 547.300 Decrease in Arbitrage Retate Payable . - - - - (69.100) increase in Customer Contracts Payacte 21.200 - - - 21.200 136.400 increase in Utihty Depcs.ts Payatie 356.700 - - - 356.700 711.500 increase in Deferred Revenue .. 3 200 - - - 3 200 46,400 Decrease in Customer Advances (117.100) - - -
(117.100) (6.200) increase in Accrued Leave 78 200 39.000 - - 117.200 192.800 Decrease in Prepa:d Fees Cred i . (204.600) - - - (204 600) (69 500) Rece: pts of Interest on investments - (21.139 700) (279 500) (21,419 200) (20 631.900) t Total Adjustments..- 21 760 500 5 498 000 (21.135 700) (219 500 S.843 300 3 566 200 Net Cash Provided by Operating ActMties... . 4 1/ 408 400 $ 10.076 800 $ to 417.300 $ 14 700 $ 91 911 200 $ 81.392.100 i 'l i t Cash and Cash Equivalents at End of Year: , l The Combined Statement cf Cash Flows.A!I Proenetay Furd Tyces and Simdar Trust Funds includes ervy Pension Trust and Nonespendable Trust i Funds The Combined Stance Sheet includes a'i Trust and Agency Funds including Expendaele Trust Funds The respective Cash and Cash Equivalent talances as included on tne Cemeined Batance Sheet are Pension Trust 11.476 700. Expendaele in.st s to 47 t.500, and Nonexpendable Trust $4 853 000 , l 1 a 1 l l The accompanying notes are an mtegral part of these financial statements 1 B-13 : 1
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- - - - - - . - - - - - -- __ . a m . _43 NOTES TO FINANCIAL STATEMENTS l
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CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 1 1 NOTE I
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the City of Tallahassee have been prepared in accordance with generally accepted ) accounting principles (GAAP) as applied to govemmental units. The Governmental Accounting Standards Board (GASB) is the standard-setting body for governmental accounting and financial reporting. On June 15,1987, the GASB issued a codification of the then existing Governmental Accounting and Financial Reporting Standards which, along wrth subsequent GASB pronouncements (Standards and Interpretations), constitutes GAAP for governmental units. This summary of Tallahassee's significant accounting policies is presented to assist the reader in interpreting the i financial statements and other data in this report. These policies are considered essential and should be read in conjunction with the accompanying financial statements. 1 A. REPORTING ENTITY The City of Tallahassee is a po!itical subdivision of the State of Florida, located in Leon County in the north central portion of the State Tallahassee, the capital city of Flonda, is the county seat and the only incorporated municipality in Leon County. The City was incorporated in 1825 and has operated since 1919 under the same charter. The City is approximately 80 square miles in area. The City is a full service city, providing its citizens with a full complement cf municipal services. In addition, the City owns and operates eight enterprise funds which include five utilities: (an electric generation, transmission and distribution system; a natural gas distribution system; a water production and distribution 1 system; a sewage collection and treatment system; and solid waste collection system), a regional airport, a bus system, and golf course This report includes financial statements o' the funds and account groups required to account for those financial activities which are related to the City and are controlled by or dependent upon the City's legislative body, the City Commission. Control or dependence upon the City was determined on the basis of budget adoption, taxing authority, outstanding debt collateralized by revenues of general obligations of the City, or the City's legal responsibility to fund any deficits that may ; occur. On this basis, the following entitles are not part of the City of Tallahassee and thus, are excluded from the I accompanying financial statements: I Tal!ahassee Housing Authority - This authonty was created by the City pursuant to State Statutes with , commissioners of the Authority appointed by the City Commission. Operations are administered by the Authority ) and financed with Federal funds and rentals. Outstanding debt of the Authonty is not an obligation of the City. Sunshine State Governmental Financing Commission - The Cities of Orlando and Tallahassee, Flonda, entered into an interlocal agreement to create the Commission and undertook certain initial risks to ensure its ability to sell bonds The Commission is a joint venture between the members of the govemmental units (See Note V.8). Crystal River Unit 3 - As indicated in Note V. A, the City of Tallahassee has an ownership interest in the Crystal River Unit 3 nuclear power plant operated by Florida Power Corporation. The City's interest does not meet the entena for inclusion as part of the reporting entity since the operation of the plant is not controlled by the City. 1 B. BASIS OF PRESENTATION i l The accounting records of the City are organized on the basis of funds and account groups. For reporting purposes, the l various funds of the City are classified into three basic fund types governmental funds, proprietary funds, and fiduciary funds. In addition to the various fund types, a fourth category of accounting entities is the account groups , l Comparative data included in these notes and amounts in the " Totals (Memorandum Only)" columns in the combined financial statements represent a summation of the combined financial statement line items of the fund types and account i groups and are presented only to facilitate financial analysis. Data in these columns do not present financial position, l results of operations, or cash flows 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 Comparative total data for the prior year have been presented in the accompanying financial statements in order to I provide an understanding of changes in the government's financial position and operations However, comparative data ' have not been presented in all statements because their inclusion would make certain statements unduly complex and difficult to understand. B-14 i l l
CITY OF TALLAHASSEE, FLORIDA l NOTES TO FINANCIAL STATEMENTS Septernber 30,1993 NOTE I -(Continued) Certain balances presented in the financial statements for the year ended September 30,1992 have been reclassified for comparative purposes in the accompanying financial statements. The following fund types and account groups are used by the City: l l GQHERNMENTAL FUNQS The focus of Governmental Fund measurement is upon determination of financial position and changes in financial position (sources, uses and balances of financial resources) rather than upon determination of net income. The following is a description of the Governmental Funds of the City: 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 used to account for the proceeds of specific revenue sources (other than expendable trusts, or major capital projects) that are legally restricted to expenditures for specified purposes. 1 DEDT 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 Funds 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 and Trust Funds). PROPRIETARY FUNDS The focus of Proprietary Fund measurement is upon determination of net income, financial position, and cash flows. The generally accepted accounting principles utilized for these funds are similar to those used by businesses in the private sector. I The following is a description of the Proprietary Funds of the City: 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 goveming body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. INTERNAL SERVICE FUNDS Internal Service Funds are used to account for the financing of 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. EjDUCIARY FQNDS 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, Nonexpendable Trust, Agency, and Pension Trust Funds. Pensica Trust Funds and Nonexpendable Trust Funds are accounted for in essentially the same manner as Proprietary Funda since capital maintenance is critical. Expendable Trust Funds are accounted for in essentially the same manner as Governmental Funds. Agency Funds are custodialin nature (assets equal liabilities) and do not involve measurement of reszts of operations. ACCOUNT GRQUES Account Groups are used to establish control and accountability over the City's general fixed assets and the unmatured l principal of its general long-term debt, which is not associated with, nor the obligation of, the proprietary or trust funds. 1 Accordingly, the City maintains a GENERAL FIXED ASSET ACCOUNT GROUP and a GENERAL LONG-TERM DEBT ACCOUNT GROUP. I C, BASIS OF ACCOUNTING Basis of accounting refers to when revenues, expenditures 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. i l B-15
CITY OF TALLAHASSEE, FLORIDA 1 NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE I - (Continued) All Governmental Funds, Expendable Trust Funds, and Agency Funds are accounted for using the modified accrual basis of accounting Their revenues are recognized when they become measurable and available as nel current assets. The following revenues are considered to be susceptible to accrual: grant revenues, rent revenues, cigarette tax revenue, telecommunications revenue, mobile home hcenses, state revenue sharing, and special assessments, etc. Interest earned on special assessment levies and interest expenses on offsetting long term debt are not accrued unless fully matured and unpaid. Property taxes are accounted for on the modified accrual basis when measurable and available. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred Principal and interest on general long term debt are recognized when due. All Proprietary Funds, Nonexpendable Trust Funds, and Pension Trust Funds are accounted for using the accrual basis of accounting. Ubbty revenues are recorded as earned. Fuel adjustment revenues are recognized based on the actual fuel costs. Amounts are charged based on estimated costs and are adjusted semi-annually for any differences between the actual and estimated cust once actual costs are known. D, BUDGETARY DATA
- 1. BUDGET POLICY - Budgets are legally adopted for the General and Enterprise Funds. Each Budget is controlled at the fund and departmental level. Budgets are adopted on a basis consistent wth Generally Accepted Accounting Principles (GAAP) with the exception that encumbrances are reported as expenditt res in the year the commitment is incurred. The City Manager is authorized to transfer budget amounts within deparvnents; however, any revision that alters the total expenditures of any department or fund must be approved by the City Commission. During the year, several supplementary appropriations were necessary to ensure that expenditures did not exceed budgeted appropriations. In instances where budget appropriations and estimated revenues have been revised during the year, budget data presented in the financial statements represent final authorized amounts. Unencumbered appropiiations are c5 sed at year end.
- 2. ENCUMBRANCES - Encumbrance accounting, under which requisitions, 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, Special Revenue Funds, Expendable Trust Funds and Capital Projects Funds. Encumbrances outstanding at year end are reported as reservations of fund balance, since they do not constitute expenditures or liabilities.
E. ASSETS, LIABILITIES AND FUND EQUITY
- 1. CASH AND CASH EQUIVALENTS - The City considers cash on hand, cash with fiscal agents, demand deposits and bank repurchase agreements with an original matunty of 90 days or less as cash and cash equivalents. In addition, each fund's equity in the City's investment pool has been treated as a cash equivalent since cash may be withdrawn from the pool at any time without prior notice or penalty.
- 2. INVESTMENTS - Investments, except for those included in the Deferred Compensation Fund, are stated at amortized cost. Investments in the Deferred Compensation Fund are stated at market value
- 3. INVENTORY - The City maintains a variety of inventory types stated at the lower of cost or market in different funds as follows:
Irlytnl0IylyDfL Fund Valuation Method Fuel Electric Fund Moving average Fuel Gas Fund First-in. first.out Fuel Tallahassee Transit Fund Moving average Maintenance parts & tires Tallahassee Transit Fund Weighted average Office supphes, parts, l tires and fuel Internal Service Funds Moving average Maintenance & repair parts General Fund First-in, first-out Retail merchandise Golf Course Fund First-in, first-out B-16
- - - - - .- - = - .
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 l l NOTE 1 - (Continued) The cost of governmental fund-type inventories are recorded as expenditures when consumed rather than when purchased. Perpetualinventory records are maintained for all significant inventories. I l
- 4. ADVANCE TOIFROM OTHER FUNDS - Non-current portions of long-term interfund loans receivable (reported in
" Advance to" asset accounts) of governmental funds are equally offset by a fund balance reserve account which indicates that they do not constitute "available spendable resources" since they are not a component of net currerrt assets. Current portions of long term interfund receivabies (reported in "Due from" asset accounts) are considered "available spendable resources". Non-current portions of long-term interfund loans payable of governmental funds are reported in the General Long. Term Debt Account Group since they are not liquidated through the use of expendable available fincncial resources.
The proceeds of such advances to governmental funda are recorded in "Other Financing Sources".
- 5. FIXED ASSETS Fixed assets used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than in governmental funds. Public domain general fixed assets consisting of certain improvements other 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.
l All fixed assets are recorded at historical cost or estimated historical cost if actual cost is not available. Donated fixed assets are valued at their fair market value on the date donated. Fixed Assets used in the Enterprise, intemal Service Funds and Expendable Trust Funds are accounted for in the respective funds. Depreciation of all exhaustible fixed assets used by proprietary funds is charged as on expense 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 method. Depreciation is charged to contributed capital for those assets constructed or purchased with funds received from Grants, Entitlements or Shared Revenues. ; I The estimated useful lives are as follows: l Buildings . 10 to 40 Years Improvements other than Buildings. 10 to 40 Years : Machinery and Equipment.. 10 to 40 Years l Vehicles . 5 to 15 Years j The City of Tallahassee follows the Federal Energy Regulatory Commission's Uniform System of Accounting; therefore, retirements of Utility Funds' plant in service are accounted for in accordance with Federal Energy Regulatory Commission regulations, whereby, when an asset is retired, the cost of the asset is charged to accumulated depreciation. l
- 6. BOND DISCOUNTS AND ISSUANCE COSTS Bond discounts and issuance costs are deferred and amortized over the term of the bonds using the effective interest method Bond discounts are presented on the financial statements as such and issuance costs are presented as other assets.
j 7. PRIOR PERIOD ADJUSTMENTS: a, Capitalized Interest -In 1981, the City adopted the provisions of Statement Nos. 34 and 62 of the Financial Accounting l l Standards Board requiring that interest costs be capitalized for those assets that are constructed or acquired for an entity's ' l own use subject to certain specific requirements and limitations. During 1993, the City modified its method of calculating capitalized interest for the Electric Fund to incorporate the provision of recognizing avoidable interest resulting in the recognition of additional capitalized interest. Accordingly, a prior period adjustment for years 1981 through 1992 was 4 recorded in the Electric Fund's financial statements with an increase to net fixed assets and retained earnings as of October l 1,1991, of $23,421,000 and an increase to net fixed assets and net income for fiscal year 1992 of $2,345,300. , l l l 1 i B-17 l D
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE I - (Continued)
- b. Fixed Assets - Dunng the 1993 annual fixed asset intentory of the City's fleet vehicles, it was determined that
$5,221,300 of vehicle purchases were not capitalized for yesrs 1983-1992. Additionally, during analysis of projects for the Electric Fund, it was determined that $6,441,300 of non-capital projects were capitalized and carried in construction in progress for years 1991-1992. Accordingly, prior peaod adjustments were recorded in the Garage and Electric Fund's financial statements which increased fixed assets by $5,221,300 for the Garage Fund and decreased fixed assets by l $6,441,300 for the Electric Fund as of October 1,1992. The net effect of these Odjustments on the respective fJnd's financial statements as of October 1,1991 were: (1) an increase to accumulated depreciation of $1,500,300 and an increase to retained earnings of $3,721,000 for the Garaga Fund; and (2) a decrease in retained earnings of $1.738,600, and a decrease to net income for fiscal year 1992 of $4,702,700 with no affect on depreciation for the Electric Fund. . l
- c. Loans to Other Funds - During 1993 it was determined that the accounting for Loans to Other Funds in the intoma' Loan Fund (an Internal Service Fund) had overstated interest income and loans receivable by $1,055,700.
Consequently, a prior period adjustment was recorded in the Internal Loan Fund's financial statements which decreased loans receivable. The net effect of this adjustment on the fund's financial statements was a decrease in retained eamings with a corresponding decrease in net income for fiscal year 1992 of $1,055,700. d The following is a summary of prior period adjustments and their net effect on retained earnings as of September , 30,1992: ' Electric Garage Internal Loan Fund Fund Fund Retained Earnings - September 30,1992 - As previously reported . 5 231,477,800 $ 28,388,800 $ 1,107.000 Prior Period Adjustments: Recognition of additional capitalized interest.. 25,766,300 - -- Adjustment to loans receivable.. - -- (1,055,700) Adjustment to capital assets . (6.441.300) __122L000 -- Retained Earnings September 30,1992 - As Restated . $_25QJQ2300 $ 32109 80Q $ 5132Q F. REVENUES, EXPENDITURES AND EXPENSES
- 1. PROPERTY 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 ensure consistent property taxes at a rate of up to 10 mills. The millage rate assessed by the City for the fiscal year ended September 30,1993 was 3.200.
All property is assessed by the county according to its fair mariset value on January 1 of each year. Each assessment rollis submitted to the Executive Director of the State Department of Revenue for review to determine if the rolls meet all of the appropriate requirements of State Statutes. The current year taxes for the fiscal year, beginning October 1, are billed in the month of November and are due no later than March 31. On April 1, all unpaid amounts become delinquent and are subject to interest and penalties. 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 month of January and 1% in the month of February. The taxes paid in March are without discount. Delinquent taxes on real property bear interest of 18% per year. On or prior to June i 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 Tax Calendar is as follows: Valuation Date: January 1; Levy Date: November 1; Due Date: March 31, Succeeding Year; and Lien Date: Apnl 1, Succeeding Year. B-18
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE I - (Continued)
- 2. GRANTS AND OTHER INTERGOVERNMENTAL REVENUES - Grants and other intergovemmental revenues recorded in governmental funds are recognized as revenue n the period when they are measurable and available (modified accrual basis of accounting) within the parameters of legs: and contractual requirements. In enterpnse funds, grants and other intergovernmental resources that are extemally restricteo 'o capital acquisition or construction are recorded as contributed equity (Contributed Capital accounts) and recognized in the period in which they are earned and become measurable (accrual basis of accounting). Grants and other intergovernmental resources for enterprise fund operating purposes are recognized as "nonoperating" revenues on the accrual basis of accounting-
- 3. IMPACT FEES Impact fees are recognized as non-operating revenue (system charge revenues) in the Water and Sewer Funds. These revenues are collected for the exclusive use of the water and sewer systems.
- 4. AMORTIZATION OF NUCLEAR FUEL - The costs of nuclear fuel, including estimated disposal cost, are charged to cperating expenses. These costs are charged to customers through increased rates or through the fuel adjustment clause.
- 5. COMPENSATED ABSENCES - All full-time employees earn vacation and sick leave starting with the first day of employment, all part time employees earn vacation and sick leave in proportion to the number of hours in their normal work day.
Vacation leave is earned based on years of continuous and creditable service as follows: Executie Senior Management Gragral Years of Total Days Years of Total Days Years of Total Days _ Service Per Year _SgIYtce _Eedear_ _ Servi _ce. _Eer Year Up to 1 15 Up to 1 15 Up to 5 15 1 to 5 21 1 to 5 18 5 to 10 18 5 to 10 24 5 to 10 21 10 to 20 21 Over 10 27 10 to 20 24 Over 20 24 Over 20 27 A maximum of 43 days vacation leave time may be carried over from one fiscal year to the next for executive employees and a maximum of 33 days for senior management and general employees. An employee who terminates employment with the ; City is paid for any unused vacation leave accumulated to the time of termination. Sich leave is camed at the rate of four hours for each month of service with no maximum kmit on the number of hours which may be accumulated Effectrve May 1,1991, employees who have 24 months continuous service and who experience an absence in excess of 48 consecutive work hours for a medically certified illness or disability are also eligible for Catastrophic fliness Leave up to a lifetime maximum of 1200 hours An employee who terminates from the City for any reason other than termination for cause will be paid one-half of the total amount of sick leave (without regard to catastrophic illness leave) accumulated by him or her on the effective date of (ermination. If the employee dies, the sick leave amount will be paid to the employee's beneficiary or estate. Retiring employees can elect the option of using the accumulated sick leave amount to purchase single coverage health insurance in lieu of receiving payment. Accumulated current and long term vacation and sick pay amounts are accrued when vested in Proprietary Funds. For Governmental Funds, the liability is recorded in the General Long-Term Debt Account Group, The City has estabhshed a reserve in the Human Resources Fund (an Internal Service Fund) to fund accrued leave pay outs which are in excess of annual budgetary amounts B 19
1 l CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS ' Septernber 30,1993 NOTE I - (Continued) i 6. INTERFUND TRANSACTIONS l a. INTRA-GOVERNMENTAL CHARGES - Certain functions of the City of a general and administrative nature are accounted for in internal service funds. The costs accumulated in these funds are allocated to the various funds benefited by the services via charges which are recorded as charges for services in the internal service funds and expenses or expenditures in the benefited funds. Such costs allocated to the funds for the year ended September 30,1993 are as follows: General .. $ 9,359,100 Electric. , 7,136,800 Gas. 1,001,100 Sewer.. 2,dt 56,900 Water . 2,052,200 Airport 400,500 Ta:lahassee Transit 619,900 Solid Waste . 2,119,300 Golf Course.. 75,600 Stormwater Managemant.. 688.900 125.910.300
- b. TRANSFERS - All interfund transactions except advances, quasi-external transactions and reimbursements are accounted for as transfers. Nonrecurring or nonrountine transfers of equity between funds are considered residual or capital equity transfers. All other interfund transactions are treated as operating transfers
- 7. RECONCILIATION OF BUDGETARY BASIS TO GAAP BASIS - The following schedule reconciles the " Excess of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses - Budgetary Basis" to the " Excess of Revenues and Other Financing Sources Under Expenditures and Other Financing Uses GAAP Basis" for the General Fund for the year ended September 30,1993.
Excess of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses Budgetary Basis . $ 64,900 Adjustments. Cancellation of Prior Year Encumbrances .. (78,000) Recognition of Current Year Encumbrances . _J81QQ) Excess of Revenues and Other Financing Sources Under Expend:tures and Other Financing Uses - GAAP Basis.. $ (71.600) j l I l l 1 B-20
]
l CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOYE I-(Continued) 8, BUDGETARY COMPLfANCE SCHEDULE The schedule below gives a comparison on a departmental basis of budget to actual expenditures on a budgetary basis. The City's legally adopted budget requires that we report encumbrances as an expenditure. Budgetary basis expenditures include encumbrarces to reflect actual expenditures on a basis consistent with the hgally adopted budget. This schedule includes budgetary comparisons for both Enterprise and General Fund operations. Geoartments Budaet Exoenditures Variance City Commission. $ 424,400 $ 404,300 $ 20,100 Legal . 1.596,200 1,590,400 5,800 Treasurer / Clerk . 6,359,200 5,799,900 559,300 Auditing.. 400,800 397,500 3,300 Executive . 1,825,700 1,586,200 239.500 Management and Budget. 7,572,000 7,229,800 342,200 ! Fire. 12,598,100 12.247,900 350,200 Police 23,383,000 22,882,600 500,400 } Public Works.. 32,035,500 30,579,600 1,455,900 j Parks and Recreation . 9,819,200 9,514,300 304,900
; General Services . 1,680,100 1,636,700 43,400 ! Planning .. 1,938,100 1,903.100 35,000 4 Community improvement.. 3,.191,600 2,964,300 227,300 j Aviation . 4,944,700 4,758.600 186,100 i Tallehassee Transit.. 7,847,200 7,472,000 375.200 j Electric.. 135,881,700 131,741,700 4,140,000 l Water and Sewer. 36,397,900 34,353,400 2,044,500 j Gas. 11,100,900 10,656,900 444,000 1 Growth Management.. 3.171.200 3.075.200 96.000 l $ 302.167.500 $ 290.794.400 $ 11.373.100 1 1 i 9. AIRPORT FUND'S LEASING OPERATIONS The Airport Fund's leasing operations consist principally of leasing j i land and buildings under operating leases to airlines, rental car agencies and other commercial enterprises. Lease terms l l vary from one to twenty-five years and require, in some cases, that leasehold improvements will be contributed to the City a at lease termination. The following is a schedule by years of minimum future rentals on noncancelable operating leases of the Airport Fund as of September 30,1993.
l Years ending September 30, i 1994., $ 1,859,422 l 1995.. 740,644 1996.. 537,472 1997.. 529,816 1998. 544,949 Later years.. 4.402.775
$ 8.815.078 4
l Total minimum future rentals do not include contingent rentals that may be realized under certain leases that require { additional rent if the tenant's gross revenues exceed stipulated minimums. Contingent rentals for the fiscal year ended i September 30,1993 amounted to $3.200. In October 1989, the City entered into fifteen-year lease and use agreements with its major airline tenants, the signatory ] airline agreements. Among other provisions, the agreements require that landing fees and terminal rentals be reviewed
- annually and adjusted so that the total revenues of the Airport System are sufficient to meet the Airport Fund's l requirements as determined by the signatory airline agreements. At the end of the fiscal year, after all required deposits I have been made, a portion of remaining funds are required to be designated as the Prepaid Fees Credit to be credited against the subsequent year's rates for rentals, fees and charges. Remaining funds are to be designated to Prepaid Fees l Credit as follows
- 60% for the first five fiscal years, and 50% in subsequent fiscal years. The allocation of the Prepaid ,
- Fees Credit is 85% toward terminal rentals and 15% toward landing fees. )
i i j B-21 I l l
, . - . - . , - - - _ . . . . , _ . . . _ _ _ . , --.-m . __'
l CITY OF TALLAHASSEE, FLORIDA I l NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE I - (Continued) The Prepaid Fees Credit is recorded as a current liability in the amount of $514,800 and $719,400 for the 1993 and 1992 fiscal years, respectively. The residual portion of remaining funds, (40% for the first five fiscal years and 50% for subsequent fiscal years), is to be allocated to the Signatory Airline Capital Account (25% up to $105,000, adjusted for inflation) and the Airport System Capital Account (75%). Signatory airlines constituting a majority-in-interest shall direct the use of the Signatory Airline
- Capital Account. Funds on credit to the Airport System Capital Account shall generally be used to pay the costs of l'
improvements in other than airline supported areas; or the cost of improvements in airline supported areas for which the signatory airlines are not financially responsible under the agreement The minimum rentals to be paid by the signatory airlines under this agreement will vary each year and such amounts have not been included in the above schedule of minimum future rentals. The fifteen year lease and use agreements with the City's major airline tenants (the signatory airline agreements) are reliant on the ongoing operations of the signatory airlines. l l 1 I B-22 l l
f a CITY OF TALLAHASSEE, FLORIDA l ( l l NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE II STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY A, COMPLIANCE WITH FINANCE RELATED LEGAL AND CONTRACTUAL PROVISIONS l The City has no material violations of finance-related legal and contractual provisions. B, DEFICIT RETAINED EARNINGS OF INDIVIDUAL FUNDS The Communications Fund, an Internal Service Fund, had a deficit retained earnings of $(3,300) at September 30,1993. The daficit will be eliminated by transfer of funds from other operating funds during the 1994 fiscal year. C, EXCESS OF EXPENDITURES OVER APPROPRIATIONS IN INDIVIDUAL FUNDS AND DEPARTMENTS No individual fund or dep artment expenditures exceeded appropriations during fiscal year 1993. D. ESTABLISHMENT OF NEW FUND Daring 1992, the City and Levo Ccunty entered into a interlocal agreement for the purpose of funding, acquiring, constructing, and operating and maintaining a railroad station site located in Tallahassee, Florida. The agreement affixed the City with ! fiduciary responsibility for management of the railroad station operations. Accordingly, the Railroad Fund, an expendable trust fund, was established to account for operations See Note V D. for definition of the expendable trust fund and City's j equity interest in joint venture, j E. TERMINATION OF FUNDS . I Effective September 30,1993, Special Capital Projects, an expendable trust fund, was discontinued. The residual balances of Special Capital Projects which totaled $6,659,100 were transferred to the Capital Improvements Fund Effective October 1,1991, the operations of Forest Meadows Fund were transferred to the General Fund. Net Fixed Assets of $1,660,900 were transferred to the General Fixed Assets Account Group and a residual equity transfer of ($1,365,900) was made to the General Fund. l l B-23
I CITY OF TALLAHASSEE, FLORIDA ] NOTES TO FINANCIAL STATEMENTS September 30,1993 i NOTE Ill- DETAll NOTES ALL FUNDS AND ACCOUNT GROUPS 1 A. ASSETS i
- 1, CASH AND CASH EQUIVALENTS ANDINVESTMENTS i The City of Tallahassee maintains a cash and investment pool that is available for use by all funds. Each fund's portion of this pool is reported in " Cash and Cash Equivalents." Interest earned by this pool is distributed to each fund monthly
' based on weekly balances. In addition, investments are separately held by several of the City's funds. i Deposits - At year end, the book balance of the City's deposits was $2,181,400 and the bank balance was $6,575,300. l The difference between the book balance and bank balance is due to outstanding checks. The bank balance is insured - by federal depository insurance and, for the amount in excess of such federal depository insurance, by the State of Florida's Public Deposit Act. Provisions of the Act require that public deposits may only be made at qualified public i depositories. The Act requires each qualified public depository to deposit with the State Treasurer eligible collateral i equal to or in excess of the required collateral as determined by the provisions of the Act, in the event of a failure by a
- qualified public depository, losses, in excess of federal depository insurance and proceeds from the sale nf tha securities i pledged by the defaulting depository, are assessed against the other qualified public depositories of the same type as the
, depository in default. When other qualified public depositories are assessed additional amounts, they are assessed on a 1 pro <ata basis. Invt.stments - The City's investment guidelines, as defined by the City Charter and its written investment policies, are approved by the City Commission or the Sinking Fund Commission. The investment policies established three investment pools: 1) The General Operating Pool, which covers all monies of the City not otherwise classified and is included in the above-referenced cash and investment pool; 2) the Sinking Fund Pool, which covers all monies set aside for the payment of principal and interest on the City's notes, bonds, or other obligations of indebtedness; and 3) the Pension Fund Pool which covers all monies of the City's pension funds. According to the City Charter, the City Treasurer-Clerk is designated to invest all monies belonging to the City pursuant to the policies approved by the City Commission, except those monies in the Sinking Fund and Pension Fund Pools. Monies in the Sinking Fund and Pension Fund Pools are invested under the auspices of the City Charter-created Sinking Fund Commission, which consists of the five City Commissioners and three appointed members. Under the policies approved by the City Commission and the Sinking Fund Commission, the day to-day investment of all monies is managed by the City Treasurer-Clerk. The City's banking arrangement requires daily cash balances to be invested in an overnight repurchase agreement at the federal fund rate. The repurchase agreement's balance at September 30,1993 is $3,500,000. Authorized investment instruments for General Operating and the Sinking Fund pools are as follows: General Sinking Ooerating _Eunt Repurchase Agreements- X X } Reverse Repurchase Agreements.. X X l Certificates of Deposit.. X X 3 d Bankers' Acceptances . X X
)
l Commercial Paper Rated A-1 by Standard & Poor's or P-1 by Moody's . X X U. S. Treasury Bills, Bonds or Notes . F X U. S. Government Agencies . X X 4 Mortgage-backed Govemment Obligations . X Corporate Fixed Income Securities rated at least A by Standard & Poor's or Moody's.. X Florida State Board of Administration Local Governments Surplus Funds investment Pool.. X A A The Pension Fund Pool may be invested at a level considered acceptable for the plan as adopted t.y the Sinking Fund j
- Commission. The level of acceptable risk has been determined to equal the risk of a market portfolio composed of
- 40%
in S & P 500 stock index,15% in the Frank Russell 2,000 index,35% in Shearson Lehman's G/C Composite index, and 10% in the Frank Russell Company real estate index. B-24
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE Ill -(Continued) In addition to authorizing investment instruments, the City's pohcies also identify various portfolio parameters addressing issue d'vewfication. term to maturity and liquidity, and requirement of " purchase versus delivery" perfection for securities held by a third party on behalf of and in tne name of the City. The City's investments for all pools are summarized and categorized under GASB 3 guidelines as follows to give an indication of the level of risk assumed by the City at September 30,1993. Cahgorv Carrying Market 1 ._2__ 3 Amount Value Repurchase Agreements. $ -- $3,500,000 $ - $ 3,500,000 $ 3,500,000 U. S. Government 4 Secunties . 123,445,900 -- -- 123.445,900 127,376,100 U. S. Government Agencies . 57,484,900 - -- 57,484,900 58,494,200 Corporate Fixed income Securities . 32,999,100 .. -- 32,999,100 33,430,500 Corporate Equity Secunties.. 70.491200 - -- 70.495.20D 84.092.70Q
$284.425102 $3.500.000 $ -- 287,925,100 306,893,500 Investment in Florida State Board of Administration Local Governments Surplus Funds investment Pool. 95,404,100 95,404,100 investment in mutual funds.. 189.382,200 218,310,600 Investment in guaranteed investment contract.. 56,773,400 56,773,400 Investment in Real Estate.. 17,397,900 15.321,600 Accrued Interest . _ _ 2191200 2.799 100 l Total Investments.. $649.681.900 $695.502.400 l
l Category 1 includes investments that are insured or registered or for which the securities are held by the City or its agent in the City's name. Category 2 includes uninsured and unregistered investrnents for which the securities are held by the counterparty's trust department or agent in the City's name. Category 3 includes uninsured and unregistered investments for l which the secunties are held by the counterparty in the City's name or held by the counterparty's trust department or agent, but not in the name of the City. / 2. FDED ASSETS Dunng ti e fiscal year ended September 30.1993, the following changes occurred in the general fixed assets account group. s Balance Balance October 1, September 30, 199L._ _Md!!! gat. Deletions 1993 Land.. 514.677,100 $10,899,900 $ 18,400 $25,558,600 Buildings . 31,574,500 4,319,700 240,100 35,654,100 improvements Other Than Buildings . 4.674,300 4.627,000 3,900 9,297,400 Equipment.. 13,119,100 1,041,800 2,177,800 11,983,100 Construction in Progress . 28,057,400 8,916,100 21,614,300 15,359,200 Equity Investment in Railroad Fund.. -- 554EQ - 554300
$22.102.400 $30.359.400 $24.054.500 $98.407.300 B 25
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE ill -(Continued) l General fixed assets construction in progress consisted of the following at September 30,1993: l Required Project Future Authorized _ _Expandat _C.ommitted Inading l Land Acquisition . $ 4.582,400 $ 2,257,700 $ 2,324,700 None Mixed Use Parkin9 Garage,. 19,100,000 2,777,700 16,322,300 None Parks & Recreation Facilities.. 7,123,200 2,729,300 4,393,900 None Police Station Expansion / Equipment.. 6,996,900 3,876,300 3,120,600 None Science Center . 2,050,000 353.500 1,696,500 None l Miscellaneous Projects., _S.Z00100 3.364.700 _ 1 3.36.000 None !
$46.553.200 $15.359.200 $31.194 000 Proprietary fund type fixed assets consisted of the following at September 30,1993- l Egrprise Internal 6 amice Land.. $ 32,085,600 $ 48,700 Structures and improvements.. 115,250,800 721,400 '
Equipment.. 477,826,000 12,486.500 Vehicles . 9,968,600 24,722,800 i Construction in Progress . 113.278.400 -- l Total . 748,409,400 37,979,400 i Less: Accumulated Depreciation . 221.660.400 16.747.6Q0 ) Net.. $526.749.000 $ 21.231.800 I The amount reported for equipment in the Internal Service Fund as of September 30,1993 includes capitalized lease I equipment of $3,583,800. Accumulated depreciation on tne leased equipment totaled $1,784,900. See Note ill B. 7 for l discussion of lease commitments. Net interest costs incurred during long-term construction projects are capitalized. Capitalized interest in the proprietary funds consisted of the following at September 30,1993-Electric Water Sewer Gas Airport AL __Eunt Eund_. Eund _EunL Total Interest Cost Incurred . $ 7.966.900 $ 743.700 $ 2.708.800 $ 255.6QQ $ 974.700 Interest Cost Capitalized.. S 5,794,000 $ 693,000 $ 2,698,200 $ 255,600 $ 350,000 Interest Earned Bond Proceeds . _(L.582.00D) (200.0Q0) (32_4JDO) (40.00D) -- Net interest Capitalized . $ 4.212.000 $ 493.000 } 2 373.900 $ 215.000 $ 350.000 B 26
i CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 ) 1 ) NOTE 111 -(Continued) i j Fixed Assets for each Enterprise Fund and Internal Service Fund consisted of the following at September 30.1993: Structures and Construction Less Accumulated )j _!mproygments _ Equipment _ Vehicles in Progress _ Total DeoreciatiOIL Net tand J Enterprise Funds: Electric.. .. $ 3.034.600 $ 51,964,100 $305,171.500 $ 4,450,900 $ 47.861.200 $412.482,300 $150,290.300 $262.192.000 1 Gas .. 61,600 8,985.900 15.392.500 - 1,922.200 26.362,200 5,404,300 20,957.900 d Sewer .. 870.900 11,899.900 97,593.600 59,100 41,531,500 151,955,000 28,794.300 123.160.700 ' 1 Water .. 156,100 7.999,600 50,066.100 2,600 7.891,200 66.115.600 15,775,100 50,340.500 i Airport.. .. .. 25,006,700 30,029.300 2.223,900 475.700 10,318,900 68,054,500 13.518,800 54,535,700 i' Tallahassee Transit.. 1,866,500 3,676,100 5,049,800 4.935,300 3.418,600 18,946,300 5,686,800 13,259.500 Solid Waste. 287.900 2,006,600 9,100 2,303,600 1.690,100 613,500 ) g 1.089.200 408.00Q 322.000 35.900 334.800 2.189.900 500.700 1.689.200 f 6 Golf Course.. J Total.. $32.085.600 $115.250.800 $477.826.000 $__9368_600 $113.278.400 $748.409.400 $221.660.400 ' $526.749.000 Internal Service Funds: . l Reading, Billing and Collection.. . . . $ -
$ 136,000 $ -
$ 136.000 $ 87.900 $ 48,100 i information Systems Services.. - - 7,457,600 9,500 - 7,467,100 2,439,100 5,028.000 t l
Accounting... .. . 87.100 - - 87.100 38,600 48,500 325,500 , Central Stores . . . _ . . . 48.700 257.100 19,700 - - 143,100 182.400
- Purchasing .. ... .
96.000 - - 96,000 43,600 52.400 ;
~
Garage . . . 461.400 4,248,900 24,713,300 - 29,423,600 13.658.100 15,765.500 , ! Human Resources.. . - - 39,800 - - 39,800 30,700 9.100 Pension Administration.. - 1,700 - - 1,700 1,700 - l l Risk Management.. . 1.800 - - 1,800 - 1,200 600 l Communications . ...
- 2.900 397.900 - - 400.800 303.600 97.200 i , Total.. S 48.700 $ 721.400 S 12.486.500 $ 24.722.800 $ -
S 37.979.400 $ 16.747.600 $ 21.231.800
- I
! I l
- i
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE Ill -(Continued) , 1 B. LIABILITIES 1, PENSION PLAN OBLIGATIONS The City's pension plan is established by Chapter 17 of the City Code of Ordinances. Under the plan the City provides a single employer defined benefit provision covering general employees (Article ll), police officers (Article Ill) and firefighters (Article IV), and a defined contnbution provision (Article V - Matched Annuity - MAP) covering all City employees The provisions of the pension plans are " qualified
- Under the Internal Revenue Service Code, which makes employee contnbutions tax deferred.
- a. Defined Benefit Provision - Established through Parts A, B, and C in Articles ll, Ill, and IV. Parts A and B are closed to further participation while part C provides coverage to all new employees. All members of the pension plan are covered by one of these parts depending upon employment date. These parts provide a detail description of the various defined benefit provisions. These provisions include the types of employees covered, benefit provisions, employee eligibility requirements for normal, early and/or vested retirements, and the related benefits for each of these retirements, ,
pre-retirement death benefits, and provisions for disability retirements There are also post retirement cost-of living adjustments (COLA) and health care suppiements.
- b. Defined Contribution Provision - All employees (general, firefighters, and police officers) may elect to contribute a portion of their salary to the plan. Firefighters and Police can contribute up to 5% of their salary. General employees can contribute up to 20% of their gross pay not to exceed the maximum amount allowed by the internal Revenue Service.
The City contributes 4% to each general employee's MAP account. Upon reaching norma! retirement age or retiring under the plan, a participant shall be paid his contributions, together with accrued earnings. If a general employee uses the contributions and accrued earnings to purchase an annuity contract, the plan will increase the amount of funds (only on the City's 4%, employee flex matched contribution and employees' contribution up to the 5%) used by the participant by a factor of 50 percent Employee contributions (including the City's 4% contribution to each general employees MAP account) plus accrued earnings thereon are 100% refundable if the employee elects to terminate his vesting rights or is q not vested at the date of employment termination. c, Funding Status and Progress - The amount shown below as the " pension benefit obligation" is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases and step-rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help users assess the funding status of the plan on a going-concem basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure is the actuarial present value of credited projected benefits and is independent of the funding method used to determine contnbutions to the plan. The pension benefit obligation was computed as of September 30,1992. Significant actuarial assumptions used in calculating the pension benefit obligation include (a) an interest rate of 8% per annum compounded annually, (b) projected salary increases for inflation and merit of 6.5% per annum compounded annually, (c) inflation rate of 4.5% and, (d) post retirement benefit increases including 3% cost of-living adjustments and a health care supplement. The total assets in excess of pension benefit obligation as of September 30,1992, were as follows: P_ensionleneft0h!!gahon
- Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving benefits $ 78,968,000
- Current employees:
Accumulated employee contnbutions 55,959,000 Employer-financed vested 39,159,000 Employer financed nonvested _._QL3ZSaQQ Total Pension Benefit Obligation 235,462,000 Net assets available for benefits (actuarial value) 274.929.000
- Assets in excess of Pension Benefit Obligation $ 39.467.000 B 28 J
C!TY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE Ill -(Continued) The market value of net assets available for benefits was $285,066,200 Emni.Qn Plan Infomlab20: 1991MEnbenhiD StallatiGaunf_Qf.01 alt 0D A. Retirees and beneficianes of deceased retirees currently receiving benefits 483 B. Terminated employees entitled to benefits but not yet receiving benefits 37 C. Active employees: Fully vested 1,674 Non-vested 1,008 D. Total current year's payroll $83,115,000 E. Current year payroll for employees covered by the Plan $75,230,000
- d. Actuarially Determined Contribution Requirements and Contribution Made The contributions required to support the benefits under Article !!,111 and IV, other than pre-retirement death benefits, are determined based on a level funding approach and consist of a normal contribution and an accrued liability contribution. The normal contribution is determined using the entry age actuarial cost method. Under this method, a calculation is made to determine the uniform and constant percentage rate of contnbution which, if applied to the compensation of the average new member during the entire period of his anticipated covered service, would be required to meet the cost of all benefits payable on his behalf.
l The unfunded actuarial accrued liability contribution is funded when necessary using the entry age actuarial cost method with amortization period of fifteen years. Additional contributions are made on a term cost basis to support the pre-retirement death benefits. Employer contributions required to support the benefits under Article V (MAP Program) are determined following a level funding aggregate approach. The present value of prospective employer contributions is determined by subtracting the present value of prospective member contributions and preser,t assets from the total present value of benefit expected to be paid from the program. Contributions dunng fiscal year 1993 totaling $5,738,500 ($3,208,800 employer contributions representing 5.29% of covered payroll for general employees and $2,529,700 voluntary employeo contributions representing , 31% of total covered payroll), were made in accordance with contnbution requirements determined through an actuarial l valuation performed as of September 30,1991. Total covered payroll for the MAP program was $60,657,800 for general l employees and $20,031,000 for police and firefighters. Total covered payroll for fiscal year 1993 was $80,688,800. Contnbutions are based on rates of covered payroll of 5.29% for the City and voluntary employee contributions of 0% - 20% for general employees and 0% - 5% for firefighters and police officers. ! l Contributions to the Defined Benefit Plan in 1993 amounted to $13,325,400 of which $9,066,500 and S4,258,900 were made by the City and its employees, respectively. In addition, the State of Florida contnbution for the Police and Fire plans amounted to $518,200 and $322,800, respectively. The contributed amounts were actuarially determined as described above and were based on an actuarial valuation as of September 30,1991, Contributions made by the City of Tallahassee and its employees are detailed in the table noted below. The significant actuarial assumptions used to compute the actuarially determined contribution requirements are the same as those used to compute the pension benefit obligation as described in the preceding page. B-29
l CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE Ill -(Continued) The employer pension cost as a percentage of payroll for each Plan is as follows- __ General Employegs_. Pohce Firefighters Percent of Percent of Percent of _AmouRL _EayloL _ArnounL_ _._EayIoL Amount . - _EayrolL_ Contnbution Requirements: Normal Cost . $ 9,931,300 17.38 % $ 2,644,200 25 31% $ 1,833,000 24.26 % Unfunded Accrued Liability (Surplus).. (E;L800) . (0.11%) (110.700) (1.0S%) (69500) _IQJ2%L Total . $ 9.868.500 17.27% $ 2.533.500 24 25% $ 1.764.400 _ 23 34% Contribution Made-City .. $ 7,017,400 12.27 % $ 1,279,900 12.28% $ 769,200 10.10% Employee . 2.851,100 5.00 % 735,400 7.00% 672,400 9 00 % State of Florida.. - - 518,200 4.91% 322300 4.24%. Tota! $ 9.868.500 _ 17.27 % $ 2.533.500 24 25% $ 1.764.400 23 34% A separate Article V MAP employer contribution is also payable for general employees, police officers and firefighters. Firefighters and pohce officers MAP plans were amended on October 1,1988 and June 1,1990 eliminating the City's required contnbution. The Article V MAP employer contribution for general employees was 5.29%,5.77% and 3.75% for 1993,1992 and 1991, respectively.
- e. Trend Information Trend information gives an indication of the progress made in accumulating sufficient assets to ,
pay benefits when due. i The following first six years of the ten-year historical trend information, prepared in accordance with Governmental Accounting Standards Board Statement No. 5, provides information on progress made in accumulating sufficient assets to pay benefits when due. The purpose of the chart is to establish a consistent method for analyzing and making comparisons among different public retirement systems. Information prior to 1987 is not available and accordingly is omitted from this table. The following information also presents three year trend information required by Governmental Accounting Standards Board Statement No. 5. Requif ed_ Supplementary _laformattonAnalysis_olfundingfmutess (in $ milkon)
'1 (1) (2) (3) (4) (5) (6)
Assets in Assets in Net Excess of Excess of Assets Pension PBO as % Fiscal Available Pension Percentage Benefit Annual of Covered Year for Benefit Funded Obhgation Covered Payroll faded. 320CElS_ ObhgatioD (1) / (2) (1) - (2) fayrolL _14LLIS)_ 9/30/87 $ 128.8 $ 125 4 103% $ 34 $ 44 3 8% 9/30/88 $ 153 6 $ 142.1 108 % $ 11.5 $ 49.3 23% 9/30/89 $ 177.7 $ 164.1 108 % $ 13 6 5 54.0 25% 9/30/90 $ 209.2 $ 183.0 114 % $ 26 2 $ 64.0 41 % 9/30/91 $ 241.6 $ 215.3 112 % $ 26.3 $ 70 0 38 % 9/30/92 $ 274.9 $ 235.5 117 % $ 39.4 $ 72.8 54 % in addition, for the three years ended September 30,1993,1992, and 1991, the City contnbutions to the defined benefit plans, all made in accordance with actuarially determined requirements, were 12.05%,11.10% and 10.30% respectively, of annual covered payroll. B-30 l
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE lil - (Continued)
- Analysis of the dollar amounts of net assets available for benefits, pension benefit obligation and assets in excess of pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits as a percentage of the pension benefit obligation, provides one indication of the systems' funding status on a going concern basis. Analysis of the percentage over time indicates whether the system is becoming financially stronger or weaker. Generally, the greater this percentage, the stronger the system.
- Trends in assets in excess of pension benefit obligation and annual covered payroll are both affected by inflation.
Expressing the assets in excess of the pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysjs of the systems' progress in accumulating sufficient assets to pay benefits when due. Generally, the greater this percentage, the stronger the system. '" Net assets for fiscal year 1991 and 1992 have been presented at adjusted market value and book value for other years Reyconcity_ Source Employer Contnbutions as a Percent Fiscal Employee ' Employer of Covered State Other " Investment liaL CQDirjbyttons ContahytRas Payroll Contabut!OES _8c1002e_ __10some Total 1984 $ 2,455,000 $ 4,800,100 $ 380,800 $ 10,600 $ 7,525,700 $ 15,172,200 5,354.800 "* 1985 4,127.900 424,300 11,300 6,905.200 16,823,500 1986 4,386,500 5,822.NO 529,700 240,600 11,740,600 22,720,100 1987 4,688,200 6,80?,300 15 3% 101,600 9,100 22,499,100 34.100,300 1988 5,246,600 7,d 77,700 15 2% 1,370,300 12,100 17,718,500 31,825,200 1989 5.399.500 8,339,600 16 0 % 752,000 8,900 13.838,500 28,638,500 1990 6,428,300 8,760,400 13.7 % 786,600 11,700 21,816,400 37,803,400 1991 6,791,200 8.837,600 12.7 % 754,300 22.000 15,047,300 31,512,400 1992 6.686.800 12.254.700 16.8 % 805,400 46,900 20,269,200 40,043,000 1993 6.788.600 12.275.300 16 3 % 841,000 40,800 21.098,900 41,044,600 Expengestylype Fiscal Administrative l#at _.Eeneftts_ __Emenset_. _Refunda_ _ Insurance _. Tolal 1984 $ 2.101,500 $ 340,400 $ 438,800 $ 489,300 $ 3,370,000 1985 2,433.000 446.900 459.200 314,000 3,653,100 1986 2.920.300 614,300 606,700 229,200 4,370,500 1987 3,264,000 686,200 953,800 25,100 4,929.100 1988 3.752,400 779,300 1,131,500 13,200 5,676,400 1989 4,267,000 727,000 878.300 17,300 5,889.600 1990 4,750.000 771,700 768,300 12.300 6,302,300 1991 6.626.600 832,000 933,900 22,300 8,414,800 1992 6.831,800 898,200 956,600 13,500 8,700,100 1993 7,295,300 978,000 1,187,800 30.500 9,491,600
*Contnbutions were made in accordance with actuarially determined contribution requirements. " Investment income includes only realized gains and losses on investments. "'Not available B-31
CITY OF TALLAHASSEE, FLORIDA l l NOTES TO FINANCIAL STATEMENTS
- September 30,1993 NOTE Ill -(Continued) 2, OTHER EMPLOYEE BENEFITS
- a. Deferred Compensation . The City of Tallahassee offers its employees a deferred compensation plan created in accordance with Intemal Revenue Code Section 457. The plan, available to all City employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency.
A!! amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attnbutable to those amounts, property, or nghts are (until paid or made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the plan), subject only to the clairns of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the City in an amount equal to the fair market value of the deferred account for each participant.
- it is the opinion of the City's legal counsel that the City has no liability for losses under the plan but does have the duty of l due care that would be required of an ordinary prudent investor. The City believes that it is unlikely that it will use the j assets to satisfy the claims of the general creditors in the future.
The City has chosen to have this plan administered by an independent plan administrator. By agreement between the employee and the City, an arrangement has been made to have the applicable portion of the employee's compensation deposited with the Intemational City Management Association Retirement Corporation's national trust fund or the l Prudential Asset Management Company, Inc. They will invest and reinvest the money and credit each account with I eamings from its investments.
- b. Flexible Benefits The City implemented a " Cafeteria'* Plan created in accordance with Internal Revenue Code Section 125. The plan provides employees with an opportunity to select benefits from a menu of options, many of which are offered on a pre tax basis.
- 3. POST EMPLOYMENT BENEFITS l Established through Chapter 17 of the City Code of Ordinances, retirees under the City's Pension Plan may participate in the health insurance plans offered by the City at the City's cost. The retiree is required to pay the full cost of the insurance. The City provides a health care supplement equivalent to $3 per month for each year of service (maximum not to exceed $90 per month per employee). This post employment benefit is funded through the City's contnbution to the pension plans, and is based on a level funding approach using the entry age actuarial cost method.
- 4. OUTSTANDING CONTRACTS The City has outstanding commitments on various contracts for construction and other projects. These commitments, as of September 30,1993,in the respective funds are as follows-l General Fund.. $ 10,000 Special Revenue Funds.. 251,100 '
Capital Project Funds . 2,037,800 ) Internal Service Funds. 91,300 Enterprise Funds Electric . 1,178,100 Sewer . 702,600 l Water . 496,300 l l Airport.. 535,800 l l Tallahassee Transit.. 14,100 Solid Waste Fund.. 5,700 l Golf Fund.. _. _ 30.100 Tota!.. $ 5 352.90g l l [ B 32 l 1 l
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL. STATEMENTS September 30,1993 NOTE lit -(Continued)
- 5. LONG TERM DEBT a, The following is a summary of the changes in the generallong-term debt account group for the City for the year ended September 30,1993:
Balance Balance October 1 . Additions _. Reductions Seotember 30 General Revenue Bonds . $40,235,000 $26.470,000 $16,725,000 $49,980,000 r Accrued Leave.. ., , 6,806,700 3,572,200 3,071,100 7,307,800 Note Payable . . 338,400 - 37,900 300,500 Advances.. 976.100 - 976,100 - Loans from Other Funds,. 4.9.50.000 254.600 329.1.00 4.875.500
$53.306.200 .$30.296.800 $21.139.200 102.463.800
- b. Summarized below are the City's individual bond issues which were outstanding at September 30,1993:
General revenue bonds: $20,605,000 Capital Refunding Bonds Series 1984, due in annualinstallments of $540,000 to $1,050,000 from October 1,1994 to October 1,2006 with a term payment of $13,765,000 due October 2007, interest rates at 10.09% to 10.62% depending on maturity date. In addition, the City is required to make a sinking fund investment purchase of $1.780,200 on October 1, 1993, in order to provide for the term payment due October 1,2007, $ 20,605,000 , j $21,220,000 Capital Bonds Series 1989, due in annualinstallments of $650,000 to $805,000 from October 1,1994 to October 1,1997, interest rates at 3.5% to 6.15% depending on maturity date. 2,905,000 $18,770,000 Capital Bonds Series 1993A, due in annualinstallments of $950,000 to $1,655,000 from October 1,1994 to October 1,2008, interest rates at 2.5% to 5.20% depending on maturity date. 18,770,000
$7,700,000 Capital Bonds Series 19938, due in annualinstallments of $1,620,000 to $2,580,000 from October 1,2009 to October 1,2012, interest rate at 5.25%. 7.700,00Q
$ 49.980.000
?
The general revenue bonds are payable from and secured by first lien and pledge of the Public l Service Tax, Local Government Half-cent Sales Tax, Guaranteed Entitlement Revenues, and i eamings on the investment of all funds and accounts created by and described in Resolutions. { t Proprietary revenue bonds- 3 i
$2,862,000 Junior Lien Electric Revenue Bonds (Mini bonds) Series 1993A, five year bonds due February 1,1997, with a term payment of $1,425,000, interest at 5.57%; and ten year bonds due l February 1,2002, with a term payment of $1.402,500, interest at 6.09%. Bonds are subject to redemption prior to stated maturities and are presented at face amount outstanding plus j accretion of $254,800. Bonds are secured by net revenues of the Municipal Electric System. $ 3,082,300 $75,700,000 Electric Refunding Revenue Bonds - Series 1992A, due in annualinstallments of j $4,125,000 to $7,835 000, from October 1,1994 to October 1,2007, interest rates at 3.60% to j 6.10% depending on natuoy &te. Bonds are secured by provisions of the 1992 General 1 Resolution which includes net revenues of the City's Electric System and certain other amounts )
as provided by Resolution. 75,700,000 l
$40,090,000 Electric Revenue Bonds Series 19928, due in annualinstallments of $4,000,000 to $8,110,000 from October 1,2004 to October 1,2012, interest at 5.8% to 6.25% depending on maturity date. Bonds are secured by provisions of the 1992 General Resolution which includes ;
net revenues of the City's Electric System and certain other amounts as provided by Resolution. 40,090,000 { I B 33 i
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 l l NOTE Ill -(Continued) l l $4,490,000 Consolidated Utility Systems Revenue Bonds - Series 1991 A, due in annual l installments of $165,000 to $380,000 from October 1,1994, to October 1,2009, interest l rates at 5.3% to 6.3% depending on maturity date. Bonds are payable and secured by lein 1 on and pledge of certain funds provided by Resolution, net revenues of the City's Utility l System, and the gross revenues of the City's Stormwater Drainage System. 4,185,000 $47,785,000 Consolidated Utility Systems Revenue Bonds Series 1991B, due in annual l installments of $1,035,000 to $4,145,000 from October 1,1994, to October 1,2014, interest rates at 5.5% to 6.8% depending on maturity date. Bonds are payable and secured by lein . on and pledge of certain funds provided by Resolution, net revenues of the City's Utility 1 System, and the gross revenues of the City's Stormwater Drainage System. 44,975,000 $12,350,000 Airport Revenue Bonds Series 1988A, due in anrrualinstallments of $255,000 to $1,080,000 from October 1,1994 to October 1,2014, interest rates at 6% to 7.65% depending on maturity date. Bonds are secured and payable from the net revenues of the Airport System. 11.885.000
$179.917.300 On July 13,1993, the City issued $18,770,000 and $7,700,000 in Capital Bonds, Series 1993A and 1993B, respectively.
The proceeds from the 1993A issue were used to refund a portion of the City's outstanding Capital Bonds, Series 1989. There is a $3,022.300 difference between the cash flow required to service the new and old bonds which represents an economic gain on the transaction of $1,411,300. On December 3,1992, the City issued $75,700,000 and $40,090,000 in Electric Revenue Bonds, Series 1992A and 1992B, respectively. The proceeds from the 1992A issue were used to refund the City's outstanding Municipal Electric Revenuo Bonds, Series 1985A. There is a $14,947,200 difference between the cash flow required to service the new and old bonds which represents an economic gain on the transaction of $11,495,800. The Electric Fund recorded an extraordinary loss of $12,784,300, cash proceeds of $44,181,500, and cash refunding payments of $34,186,900 in connection with this transaction.
- c. Legal Debt Margin 4 The City of Tallahassee has no general obligation debt outstanding, the amount of general obligation debt the City can issue is limited by City Charter, as outlined below-TAXABLE ASSESSED VALUE , S 3.258.883.300 i Debt Limit 20 Percent of Assessed Value.. W51.776.700 B-34
l l l CITY OF TALLAHASSEE, FLORIDA i NOTES TO FINANCIAL STATEMENTS l September 30,1993 l l NOTE lil- (Continued)
- d. Refunded issues - The City defeased certain general revenue, municipat utility revenue, and other bonds by placing the proceeds of new bonds in an irrevocable trust to provide for all future debt service payments on the old bonds.
Accordingly, the trust account assets and the liabihty for the defeased bonds are not included in the City's financial statements. The following schedule reflects the refunded bonds as of September 30,1993: Outstanding as of Tv_o e Series Statember 30.1993 , General Revenue 1973 $ 11,800,000 1 I 1978 38,800,000 1981 20,500,000 ; Municipal Hospital 1967 170,000 Municipal Electric 1969 800,000 1972 4,900,000 1977 63,940,000 1982 17,100,000 Junior Lien Electric Refunding 1985A 88,000,500 Municipal Utility Revenue 1970 2,050,000 1970A 800,000 1979 9,005,000 1982 4,425,000 Capital Bonds 1989 16.120.000
$278.410.500
- e. Loan Payable - On November 18,1986, the City obtained an $18,200,000 loan from the Sunshine State Governmental Financing Commission, the proceeds of which were used to retire an outstanding Special Assessment note and to finance construction of certain water and sewer projects. During 1991, the City obtained additionalloans totaling $4,700,000 from the Sunshine State Governmental Financing Commission, the proceeds of which were used to fund the purenase of data j processing equipment and to fund the construction of a road project. The rate of interest on the loan varios based upon l
market interest rates for short-term tax exempt financing. The loan interest rate at September 30,1993 was 3.22%. The debt I service schedule on B-36 was prepared utilizing a six percent (6%) interest rate which is reflective of the average interest rate I over the last six years. The outstanding balance at September 30,1993 is $21,699,700. During 1991 the above loans were transferred to the Internal Loan Fund. The Internal Loan Fund charges an interest rate
- equal to the Sunshine State variable
- r.terest rate. These loans are due and payable on July 1,2016.
The loan is non-project specific (as long as designated projects are appropriate under Florida Law and will not cause the loan, if considered as a separate bond issue, to be in violation of applicable IRS guidelines) and non-revenue specific (a l covenant to budget and appropriate for non-advalorem revenues exists). The first loan was allocated as follows: gas fund ($1,743,000, with the primary source of debt service being gas operating revenues): water fund ($7,093,700, with the primary source of debt service being water operating revenues); sewer fund ($8,163,000, with the primary source of debt service being sewer operating revenues). The second loan was allocated as follows: information systems services fund ($2.400,000, with the primary source of debt service being data services revenues ; generated by user fee charges); and general long term debt ($2,300,000, with the primary source of debt service being l revenues generated from special assessments and General Fund revenues).
- f. Note Payable During 1989, the City purchased a building and land from the Florida Education Association, Inc. As part of the financing arrangement, the City executed a note payable to the Florida Education Association, Inc. in the amount of
$436,200. The note bears an interest rate of 8% and is payable in ten annual installments of $65,000. The outstanding l
balance at September 30,1993 is $300,500. The note is recorded in the General Long-Term Debt Account Group. l l l l
)
B-35 l
l l CITY OF TALLAHASSEE, FLORIDA i i
- NOTES TO FINANCIAL STATEMENTS l September 30,1993 NOTE 111 - (Continued)
- g. Schedule of Debt Service Requirements, including Principal and interest - All Fund Types Proprietary Revenue Bonds General Year Ending Revenue Note and Loan Total Debt Septe_mber 30
_ Bonds Electric Gas __SeweL__ Water Airoort Payable __Setyice__ 1994 $ 6.243,100 $ 10,612,300 $ 273,600 $ 3.382.800 $ 773,200 $ 1.166,200 $ 1,367.000 $ 23,818,200 1995 5,597,100 10,613,800 273,500 3,382.100 773,400 1,164,600 1,367,000 23,171,500 1996 5,600,000 10,612,800 273.300 3,380,700 773.300 1,166,700 1,367,000 23,173,800 1997 5,598,300 12,164,900 273,600 3,383.100 773,600 1,166,800 1,367,000 24,727,300 1998 4.771,200 10.613,900 273,400 3,380,900 772,900 1,165,100 1.367,000 22,344,400 1999 4,765.500 10.615,800 273,600 3,381,800 772,500 1,166,400 1,367,000 22,342,600 m 2000 4,769,300 10,615,700 273.300 3,380,400 772,900 1,165,400 1,302.000 22.279,000 2001 4,770,400 10,614,300 273,400 3,381.200 773,400 1,167,300 1,302,000 22,282,000 Q 2002 4,765.100 12,148,700 273,200 3.379.600 773.100 1,166,600 1,302,000 23,808,300 2003 4.768,200 10,615,900 273,500 3,381,900 773,200 1,163,100 1.302,000 22,277,800 2004 4,765,800 10,614,500 273,800 3,384,300 773,000 1,167,200 1,302.000 22,280,600 2005 4,765,300 10,614,100 273,600 3,382,500 773,000 1,167,600 1,302,000 22,278,100 2006 4,769,800 10,614,300 273,700 3.384,000 773,300 1,165,000 1,302,000 22,282.100 2007 17,373,200 10,617,600 273,800 3,383,800 772,800 1,164,300 1,302,000 34,887,500 2008 2,145,400 8,616,000 273,300 3,383,700 773,900 1,165,100 1,302.000 17,659,400 2009 2.024.300 8.615,700 273,500 3,382,500 773,700 1,167,000 1,302.000 17,538,700 2010-2016 6,764,400 25,846,900 1,514,100 17.296,500 3.331,100 5,826,600 30,813,700 91,393,300 Totals 94,256,400 194.767,200 5,890,200 71,411,800 15,702,300 24,481,000 52,035,700 458,544,600 Interest 44,276,400 75,894.900 2,818,400 33,775,300 7,250,600 12,596,000 30,035,500 206,647,100 Principai $ 49,980,000 $ 118,872,300 $ 3,071.800 $ 37,636,500 $ 8,451,700 $ 11,885,000 $ 22,000,200 $251,897,500
l CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE lit -(Continued)
- 6. ACCRUED LEAVE The current and long-term portions of accrued leave by fund consists of the following at September 30,1993:
Accrued Accrued Accrued Leave _ Vacation _ Sick Leave Total Short-Term Portio [L Enterprise Funds: Electric.. $ 1,082,600 $ 1,511,900 $ 2,594,500 $ 1,097,900 Gas, 107,800 126,000 233,800 112,400 Sewer ., 375,600 421,500 797,100 412,700 Water , 132,900 192.400 325;300 157,300 Airport . 104A00 205,600 310,200 111,300 Tallahassee Transit.. 175.800 121,600 297,400 199,900 Solid Waste.. 208,700 324,300 533,000 209,800 Golf Course.. 42,100 28,500 70,600 38,700 Internal Service Funds.. 777,600 887,300 1,664,900 789,900 General Long-Term Debt Account Group. . 2.963.000 4.344.800 7.307.800 3.160.500 Total,. S 5.970.700 $ 8.163 900 $ 14.134.600 1,glQg,4.gg The General Fund's accrued leave has been reported in the General Long-Term Debt Account Group, because this liability will be liquidated with future financial resources.
- 7. LEASE COMMITMENTS
- a. Capitalized - The City has one capital lease with the principal remaining of $63.000. The liability for equipment acquired under capitalized leases is recorded in the appropriate Proprietary Fund and amortization of the related assets is included in depreciation expense.
- b. Operating - The City has entered into several operating leases for equipment. The operating lease obligations are
$563,100 and $4,800 for fiscal years 1994 and 1995, respectively. There are no minimum future lease obligations due after 1995. Total rent expense incurred by the City for the year ended September 30,1993, was $684,800.
- 8. SELF INSURANCE PROGRAM The Self-Insurance Program provides coverage against workers' compensation claims (up to the first $300,000 per occurrence), general liability and automobile liability. For generai liability and automobile liability statutory limitations are
$100,000 individual, $200,000 aggregate per occurrence. The City has obtained "stop-toss" insurance which covers all workers' compensation claims exceeding $300,000, subject to an aggregate policy limit of $10,000,000. The Risk Management Fund is responsible for collecting premiums from insured funds, paying claims settlements and purchasing certain insurance policies. Claims settlements and loss expenses are accrued for the estimated settlement value of reported and unreported claims. At September 30,1993, the City recorded a liability of $6,981,000 for claims, which is a $1,577,000 i increase from $5,404,000 which was recorded at September 30,1992. The $1,577,000 increase represents expenses of $3,345,000 less payments of $1,768,000.
Employee health insurance is provided through two programs. Employees may choose a health maintenance organization for which a premium is paid and the City retains no additional liability or employees may choose a traditional insurance program under which the City is self-insured. Under the trad,tional program, the City has obtained "stop-loss" insurance which covers losses in excess of $80,000 per covered individual with a $1,000,000 lifetime limit. Blue Cross Blue Shield of Florida, the contractual service agent for the self-insurance program, collects premiums from the City, pays benefits and provides the City with an accounting of its operations on a quarterly basis. The City accounts for its self-insurance program through the Employee Healthcare Fund which is classified as an Internal Service fund. At September 30,1993, the City recorded an actuarially determined liability of $231,100 reflecting an amount for reported and unreported claims incurred. B-37
1 CITY OF TALLAHASSEE, FLORIDA l l NOTES TO FINANCIAL STATEMENTS September 30,1993 ! NOTE Ill - (Continued) C, INTERFUND RECElVABLES AND PAYABLES At September 30,1993, Interfund Receivables and Payables are as follows: Fund _Dufff00L Due To Adya0 Cal 0. Advance From _Lo.pn To Loan Front General.. $ 97,500 $ 58,500 $ 472,700 $ - Capital Improvements.. 144,900 - 892,900 - - - Airport . 6,400 59,200 - 4,800,100 - -- Gas. -- - - 3,250,000 -- 1,618,700 Sewer.. -- - -- 1,350,200 - 5,829.800 Water .. -- -- -- -- -- 5,736.800 Tallahassee Transit , - 4,500 - - - -- Solid Waste.. 200 - -- - - - Reading. Billing and Collection. 57,400 -- - -- -- - Information Systems Services . -- - - - - 1,759,300 Internal Loan.. -- -- - - 19,820,100 - Deficiencies and Emergencies . -- - 8,034,700 - -- - Railroad . - 184.200 - - - -- General Long term Debt Account Group.. -- -- -- -
-- _.A8Z1000
} j rf 4,QQ $ 306.400 $ 9.400.300 } 9.400.30Q $19.820.100 $ 19.820.100 D. FUND EQUITY
- 1. CHANGES IN CONTRIBUTED CAPITAL Enterprise Funds The following changes oc:urred in contributed capital of the Enterprise Funds dunng the year ended September 30,1993-Tntlahassee
__ Electric __ __.Seytet _ Airoort __TantiL Others Total Beginning Balance as of October 1,1992 . $_2.120.000 $_112.02.300 $3.1&aQJQQ 112581ZQQ $ 2.280.300 16Z.aZa&QQ Additions-Capital Grants . - - 3.284,800 1,829,900 -- 5,114,700 Passenger Facility Chaige. - 575,400 -- -- 575,400 Transfer from Other Funds.. -- - 12100 - 12l00 Total Additions.. - ___3 BSQ 200 1.842 600 - __ fil02.800 Deductions: Depreciation on Contributed Assets.. - 16&L1DQ) _{L132.900) _ f432AQQ) -
. (2.251.400)
Total Deductions . -- __._LG&L100) _(L132.900) _L43.ZAQQ) -- _12.211300) Ending Balance as of September 30,1993.. 5 2.126.000 $18.521.200 13.43D2.0QQ $ 13.994.909 },2.280.300 $71.330.20Q l 1 B-38
_ _ . . _ _ _ _ _ _ _ _ _ _ __ -_ __ __ _~ . _ _ . _ _ i i i CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS , September 30,1993 1 l NOTE Ill -(Continued) t l 2. CHANGES IN RESERVED RETAINED EARNINGS ENTERPRISE FUNDS
- For purposes of this presentation, the Tallahassee Transit Fund, Airport Fund, Solid Waste Fund and Golf Fund have been combined as Others. As of September 30,1993, the Reserved Retained Earnings for the Tallahassee Transit Fund, Airport Fund, Solid Waste Fund, and Golf Fund, were $871,800, $4,809,100, $550,400, and $402,000, respectively. The following changes occurred in reserved retained eamings of the enterprise funds during the year ended September 30,1993
! Total l Enterprise j Electric Gas Sewer Water Others Funds j Reserved Retained Earnings: Revenue Bond Reserve.. $ 11,858,500 5 321,700 $ 3,950,700 $ 882,700 $ 1,351,100 $ 18.364,700 j Sunshine mate Construction . - 336,100 1,927,300 1,872,800 - 4,136,200 i Revenue Bonds Ranewal and Replacement . 39,744,800 533,100 6,213,500 2,936,500 1,451,400 50,879,300 l Revenue Bonds Construction , 4,004,000 268,700 3,146,000 1,064,700 - 8,483,400 j Operating Reserve.. 16,785.200 46,200 1,700 993,600 - 17,826,700 j System Charges.. .
- -- 3,769,300 4,936,600 - 8,705,900
- Loan Debt Service.. - - - - 25,200 25,200 1 Other . , 16.20fL900 9.700 833.800 -
1.379.200 18.431.600 j Total- October 1,1992. 88.601.400 1.515.500 19.842,3D0 12.686 900 4.206.900 _12SJ13AOD i Add: ! Income Earned on Restricted , Assets.. 2,725,000 32,900 409,800 507,500 2,271,900 5,947,100 l Debt Service Funding.. 12,618,100 269,700 4,686,500 763,900 1,164,400 19,502,600 j Renewal and Replacement i Funding . 18,532,300 1,329,300 3,544,500 5,979,700 G48,800 30,234,600 i Increase in Other Reserve. 1,099,300 179,900 - -- 1,752,600 3,031,800 l Bond Proceeds . 36,150,900 - - - - 36,150,900 j Other . 5,521,700 99,100 2,921,400 1,387,900 829,600 10,759,700 i Oeduct: Bond Refunding . (27,949,800) - - - - (27,949,800) ! Payment of Bond Principal.. - (62,800) (862,300) (268,700) (240,000) (1,433,800) Transfer to Other Funds.. (752,500) - (2,421,200) (680,100) (851,400' (4,705,200) I bterest and Fiscal Charges . (6,174,300) (3,600) (10,600) (50,700) (926,200i (7,165,400) ! Transfer of Fixed Assets j and Expenses.. _(3L120100) (1.894.100) (14.104.200) _(fL621200) (2.423.300) _(6DA22,3DD) { Net increase (Decrease)in Reserved Retained Earnings . ._fL3&l,IQQ (49300) (5.836.100) 1.014.800 ._2d26300 3.950.200 j $94.996,1gQ $ 1.465.900 $ 14.006.200 $13.701.700 $ 6.633.300 $130.803.200 1 Reserved Retained Earnings: 1 Revenue Bond Reserve. $11,681,500 $ 302,600 $ 3,716,000 $ 839,300 $ 1,169,600 $ 17,709,000 5 Sunshine State Construction.. - 319,200 932,200 776,300 -- 2,027,700 . Revenue Bonds Renewal and j Replacement , 24,083,800 322,500 5,569,400 5,924,900 1,397,300 37,297,900 i Revenue Bonds Construction . 25,137,400 295.400 - 791,500 - 26,224,300 j Operating Reserve.. 20,728,200 225,200 172,700 667,200 - 21,793,300 i System Charges.. - -- 3,305,300 4,702,500 - 8,007,800
- Loan Debt Service.. -- - - - 25,600 25,600
; Other . 13.365.200 1.000 310,600 -
4.040.800 17.717.600 i Total September 30,1993.. $ 94.996.100 $ 1.465.900 $ 14.006.200 $ 13.701.700 $ 6.633.300 $130.803.200 i 4 I j j B-39 i i
. . . - - . - , . .- -_ _ - _ _ . _ _ _ . . . . _ . - . . - .~m . . - , . . _ . - _ . , . , _ . . - - . . - - . . .
_ - . . - ~ - . .. . - . . - - . - _ . _ - _ - - - -~ -. l l CITY OF TALLAHASSEE, FLORIDA i ( NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE til- (Continued) The following is a description of each reserve: Revenue Bond Reserve: Established in conjunction with the issuance of Revenue Bonds and fully funded by initial deposits from the proceeds of such revenue bonds. The reserve is to be maintained, in an amount equal to the maximum debt service due in any ensuing fiscal year, as long as the bonds are outstanding. Sunshine State Construction: Established in conjunction with thi borrowing of funds from Sunshine State Governmental Financing Commission and funded by transfers from the revenc accounts of the appropriate Enterprise Funds. The use of the money is restricted to finance construction of certain water a.:d ewer projects. Revenue Bonds Renewal and Replacement: Established in conjunction with the issuance of revenue bor'ds and funded by transfers from the revenue accounts of the appropriate enterprise funds. The use of money is restricted to funding the cost of extensions, enlargements or additions to, or replacement or emergency repair of, capital assets. Revenue Bonds Construction: Established in conjunction with the issuance of revenue bonds and funded by initial deposits from the proceeds of such l revenue bonds and investment earnings. The use of the money is restricted to the acquisition or construction of projects as indicated in the appropriate Bono Resolution. Operating Reserve; Established in conjunction with the issuance of revenue bonds and funded by transfers from the revenue accounts of the appropriate enterpnse funds. The use of the money is restricted to the payment of cost of operation and maintenance if revenues are insufficient for such purpose. System Charges: This reserve is funded through the collection of water and sewer system charges. The use of money is restricted to extensions and expansions of the City's water and sewer systems. i l 1 Loan Debt Service: Established in conjunction with the borrowing of funds from Sunshine State Governmental Financing Commission and funded by transfers from the revenue accounts of the appropriate Enterprise Funds. The use of the money is restricted i to the payment of current loan service requirement. Other: Other reserves have been established by Commission action for specified purposes. B-40 l ? l i E_ _. ___ _ _ _ _ _ _ . . . _ . _ _ _ - __ . . _ . - . _ _ _ , _ . . _ , _ _ . _ , _
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE Ill-(Continued)
- 3. RESERVED FUND BALANCES AND RETAINED EARNINGS:
- a. Governmental and Expendable Trust Funds Reserved fund balances indicate those portions of fund balances that are legally segregated for a specific use or not available for appropriation or expenditure. The nature of these reserves are as follows:
September 30 1993 1992 General Fund - Reserved for: Inventory . $ 10,300 $ 7,600 Advance to Other Funds. 472,700 530,800 Law Enforcement . 14,900 54,400 Note Receivable.. 15,000 15,000 Encumbrances . 1.182.500 1.319.00Q Total General Fund.. 1.695.400 _1.926.800 Special Revenue Funds - Reserved for: ; Projects . 11,849,400 10,472,700 ! Notes Receivable.. 349.500 230.9_QQ ; Total Special Revenue Funds . 12.198.900 10.703.600 Debt Service Fund Reserved for: Current Debt Service.. 516,600 648.900 Future Debt Service . _.19.3.35.500 16.106.800 Total Debt Service Fund.. .19.852.100 16.755.700 Capital Projects Funds - Reserved for: Encumbrances . 17,308,000 18,614,700 Projects . 30,288,400 32,836,200 Advance to Other Funds . 892.900 -- Total Capital Projects Funds . 48.489.300 51.450.900 Expendable Trust Funds Reserved for: Advance to Other Funds . 8,034,700 2,459,900 Fixed Assets.. 1.031.200 -- Total Expendable Trust Funds . _9.065.90Q 2.459.900 Total.. 191.301.600 $83.296.900
- b. Internal Fervice Funds Reserved retained earnings are restricted to indicate funds obligated as follows:
Reserved for: Debt Service . $ 266,400 $ 485,700 Fleet Management.. 26,672,100 21,516,700 Projects.. 1,546,000 1,853,300 insurance.. 3.160.800 2.737.700 Total .. $31.645.300 $26.593.400 1 B-41 l
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE Ill -(Continued)
- c. Pension Trust Fund - Fund Balance is reserved through Chapter 17 of the City Code of Ordinance and requires fund equity to be restricted for future benefits to members of the pension plans as follows:
1993 1992 General Employees Article 11.. $183,474,300 $166,421.200 Police Officers - Article ll1. 40,883,000 36,513,700 Firefighters . Article IV.. 36,931,400 33,826,000 General Defined Contribution - Article V,. 33 889.500 26.864.300 Total ._ $295.178.200 $263.625.200
- 4. DESIGNATED FUND BALANCE The City has established a designation of fund balance within the Deficiencies and Emergencies Fund (an Expendable Trust Fund type) of $953.600 to provide for unappropriated expenditures in nearby annexed areas of the City. The nature of these expenditures include, but are not limited to, police and fire protection, street lights, sidewalks and street paving.
B-42
CITY OF TALLAHASSEE, FLORIDA MOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE IV - FINANCIAL SEGMENT INFORMATION OF ENTERPRISE FUNDS The City maintains eight Enterprise Funds which pros sde electnc. gas, sewer. water, airport, mass transportation, sohd waste collection and golf course operation services. Segment mformation for the year ended September 30.1993, was as fo!!ows: Total Electric Gas Sewer Water Airport Tallahassee Solid Waste Golf Course Enterprise ! Fund Fund Fund Fund Fund Transit Fund Fund Fund Funds Operating Revenues . . $ 168.039.000 $ 12.074.800 $ 20.355.600 $ 16.636.700 $ 5.741.300 $ 1.759.000 $ 13.300.100 $ 892.300 $ 238.798.800 Grant Revenues . 5 - $ - $ - $ - $ - $ 1.598.000 $ - $ - $ 1.598.000 Depreciation and Amortization Expense.. $ 12.798.500 $ 439.100 $ 2.656.200 $ 1.437.800 $ 1.727,800 $ 571.700 $ 52.500 $ 71.500 $ 19.755.100 Operating income (Loss).. $ 52.251.100 $ 2.134.800 $ 1.719.300 $ 5.708.100 $ (17.400) $ (6.053.900) $ 510.900 $ (605.000) $ 55.647.900 Operating Transfers- { u in.. S 881.200 $ - $ 50.800 $ - 5 - $ 4.824.700 $ - $ 922.800 $ 6 679.500 Out . 5 (40.554.600) $ (2.094.400) $ (883.300) $ (2.668.800) $ (64.400) $ (29.800) $ - $ -- $ (46.295.300) Net income (Loss) . $ 711.900 $ 748.500 $ 5.511.800 $ 6.230.500 $ (527.000) $ 169.500 $ 407.200 $ 348,700 $ 13.601.100 Current Captial Contnbutions.. $ - 5 - $ - $ - 5 3.860.200 $ 1.829.900 $ - $ - $ 5.690.100 Restricted Assets . 5 99.835.100 $ 1.577.100 $ 14.734.600 $ 14.220.100 $ 5.349.800 $ - 5 551.500 $ 402.000 $ 136.670.200 Fixed Assets: Additions.. $ 16.465.300 $ 8.474.000 $ 7.982.500 $ 5.237.900 $ 944.700 $ 2.649.200 $ 167.600 $ 13.200 $ 41.934,400 Disposats.. .S 622.500 $ 61.100 $ 135.000 $ 63.000 $ - $ 65.300 $ 200.000 $ - $ 1.146.900 Net Working Capital . .$ 15.011.300 $ 611.000 $ 1.549.000 $ 942.100 $ 1.141.000 $ 1.704.700 $ 498.000 $ 54.700 $ 21.511.800 Total Assets _ - $ 399.695.600 $ 24.128.200 $ 141.233.600 $ 66.892.200 $ 62.227.700 $ 15.346.800 $ 2.499.500 $ 2.252.200 $ 714.275.800 Bonds and Other Long-term Liabilities Payable from Operating Revenues.. . $ 118.872.300 $ 7.940.500 $ 44.816.500 $ 14.188.500 $ 16,685.100 $ - $ - $ - $ 202.502.900 Total Fund Equity.. $ 253.640.700 $ 15.054.600 $ 92.749,900 $ 49.679.600 $ 44.126.300, S 14.866.700 $ 1.338.700 $ 2.114.000 $ 473.570.500
CITY OF TALLAHASSEE, FLORIDA 1 { NOTES TO FINANCIAL STATEMENTS
- Septernber 30,1993 NOTE V RELATED PARTIES A. JOINTLY OWNED ELECTRIC UTILITY PLANT in November 1975, the cities of Tallahassee (1.3333%), Aiachua (0.0779%), Bushnell (0.0388%), Gainesville (1.4079%),
Kissimmee (0.6754%), Leesburg (0.8244%), Ocala (1.3333%), and Utilities Commissions from New Smyrna Beach (0.5608%), Orlando (1.6015%), Sebring (0.4473%), and Seminole Electric Corporation (1.6994%), through a participation agreement with Florida Power Corporation, a corporation organized and existing under the laws of the State of Florida, purchased a 10% undivided ownership interest, as tenants in common, in the Crystal River Unit 3 (CR3) nuclear power plant operated and managed by Florida Power Corporation. In accordance with the agreement, the City participates in the cost and the power output of CR3 based on its respective interest; however, the City has no legal authority over the operations of the plant. CR3 revenue and operating maintenance costs, which represents the Electric Utility's share of all revenue and expenses attributable to operation of CR3, are properly re.:orded in accordance with the instructions as set forth in the Uniform System of Accounts. Payments are made to Florida Power Corporation in accordance with the CR3 participation - agreement. Condensed financialinformation is not available relating to the power plant. The City has established a liability of $3.1 million dollars in the Electric Fund to recognize its share of costs associated with decommissioning the nuclear power plant. The plant's decommissioning is anticipated to begin in 2008. B. SUNSHINE STATE GOVERNMENTAL FINANCING COMMISSION in November 1985, the Cities of Tallahassee and Orlando, Florida, through an interlocal agreement, created the Sunshine State Govemmental Financing Commission (the Commission) which was developed as a pooled financing vehicle to allow for a limited number of high quality Florida local govemmental units (cities and counties) to join together in a variable rate financing program. On July 16,1986, the Commission issued $300,000,000 in Variable Rate Long-Term Bonds supported by a letter of credit from three major Japanese banking institutions. The proceeds of the bonds are being used to provide loans to selected governmental units, acceptable to the banks, which have an A (or better) credit rating Individual loans may be for a term of up to 30 years, with or without principal amortization. Each participant's loan will bear interest at an effective blended rate and the participant is responsible for paying interest and, in some cases, principal by the 15th of each month for the preceding month. According to the interlocal agreement. each participating governmental unit appoints a representative to the Commission. These representatives elect a Board of Directors which is responsible for the administration of the program. As of September 30,1993, the Board consisted of five members representing the City of Tallahassee, the City of Orlando, the City of Vero Beach, the City of Lakeland, and Dade County. The City of Tallahassee has no obligation or risk associated with the Commission other than the repayment of its loan from the Commission (See Note lit.B.5.e). Condensed financialinformation relating to the Commission as of September 30,1993, is as follows: Total Assets.. $301,039,400 Total Operating Revenue . $ 7,813,300 , Total Liabilities.. $301,039,400 Total Operating Expense.. $ 9,481,200 Total Retained Earnings . $ - Operating Loss.. $ 1,667,900 Non-Operating income $ 1,667,900 Net income . , B-44 l
, . - ~ . .-_ - - .- - - - - - ..--- . . - - .
I i i CITY OF TALLAHASSEE, FLORIDA ) NOTES TO FINANCIAL STATEMENTS l September 30,1993 NOTE V -(Continued) i l C, CO. TENANCY WITH LEON COUNTY RESEAROH ANC DEVELOPMENT AUTHORITY 1 j During 1988 and 1989, the City and Leon County Research & Development Authority entered into certain agreements for i the purpose of constructing and holding a building situated on 9.16 acres of land located in innovation Park, Tallahassee, i Florida. The building was completed in 1989 at a cost of $2,800,000. During 1988, the land and building were leased to i Tadiran Ltd. for an initial period of 15 years. The lease terms require annual rental of $1.00 during years 1 through 7 and j $1.00 during years 8 through 10 provided that cettain minimum employment levels are achieved. During years 11 l j through 15, the annual rental shall be the fair market lease value with adjustments if the tenant exceeds certain ,
- employment levels. The lease requires the Tenant to pay all utilities and expenses associated with maintaining and s operating the facility. The lease is considered an operating lease and accordingly revenues are recognized when due over the term of the lease.
The interest of the City and Authority in the Co-Tenancy is 60% and 40% respectively. The City and Authority agreed i that they acquired their respective interest in the building as a separate and distinct ownership and do not intend by the l j Agreement to form or create a partnership, joint venture, organization or association of any kind. Each Tenant in j Common is the direct owner of its respective interest in the building, each owning its undivided interest separate and apart from the undivided interest of the other. i
- In the event that funds of the Co-Tenancy are insufficient to pay operating expenses or any other expenses, then the
. Tenants in Common shall contribute the necessary funds for such purposes in proportion to their respective interest. To j the extent that either Tenant in Common does not contnbute cash, the other Tenant in Common may lend money to the l Co-Tenancy for such purpose. Such loan shall bear interest and have a priority claim on cash available for distribution. j i To the extent cash flow is available after considering a reserve for capital improvements and working capital, a ] distribution will be made to the City and Authonty in proportion to their respective interest. However, distributions will not j be made until the Co-Tenancy begins receiving fair market lease value payments under the ground and building lease. 1 j Condensed financialinformation relating to the Co-Tenancy as of September 30,1993 is as follows: f fi Total Assets.. . $2,509,000 Total Operating Revenue . $ .- j Total Liabilities.. $ .- Total Operating Expense.. $ - Total Fund Equity.. $2,509,000 Operating Income.. $ - Non-Operating Income ,. $ - Depreciation Expense. $ 70,000 Net Loss . $ 70,000 t l D. RAILROAD FUND INTERLOCAL AGREEMENT WITH LEON COUNTY l j in September 1992, the City entered m*o an interlocal agreement with Leon County conceming the application for < funding, acquisition, construction, operatica and maintenance responsibilities for the new railroad station site. The City i received grant funding from the Department of Transportation, State of Florida, through a " Joint Participation Agreement", ) in the amount of $960,000 during the 1992 93 fiscal year. I j The City has the responsibility of obtaining and administering all contracts required for construction, remodeling, and all j future operation and maintenance. The City will also contract for the provision of all necessary liability and property j damage insurance, with a minimum per occurrence limit of $5,000,000 for general liability insurance and full replacement
- coverage for property damage. Further, the City will provide all necessary staffing. managerial, operational and 4
accounting functions for the railroad station site. To satisfy its fiduciary responsibility, the City records the railroad j operations in an Expendable Trust Fund (See Note ll.D.). I According to the interlocal agreement, the City and County shall share equally in the financial responsibility for the j acquisition, renovation, operation and maintenance of the railroad station site. The City of Tallahassee and Leon County
- contributed $100.000 each to fund the necessary construction and remodeling of the railroad station site. The City's j equity investment in this joint venture is accounted for in the General Fixed Assets account group. Excess revenues i over expenditures will be shared equally and deficits funded on a 50/50 basis by the City and Leon County at the end of j each fiscal year.
B-45 r.,-, . -, , - ~ , , ., - , , , , - - - - . . , - - . ,,--- ~ - -
.-,c-~ . - - . --
l l l CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1993 NOTE VI CONTINGENCIES l 1 A. LITIGATION The City is involved in pending lawsuits The City Attorney estimates that the potential claims against the City not covered by insurance resulting from litigation would not materially affect the financial position of the City. l B. FEDERAL AND STATE GRANTS The City participates in a number of federal and state assisted programs, orincipal of which are the Federal Transit Administration, Community Devebpment Block Grant, Federal Emergency Management Agency, Federal Aviation Administration. and certain other State of Florida programs. These programs are subject to the financial and compliance audits made in accordance with the Office of Management and Budget Circular A-128. The audits of these programs for and including the year ended September 30,1993 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, l l l i 1 l 1 1 1 B-46 l l 1
CITY OF TALLAHASSEE, FLORIDA i NOTES TO FINANCIAL STATEMENTS September 30,1993 j l NOTE Vil SUBSEQUENT EVENT LOAN AGREEMENT WITH SUNSHINE STATE GOVERNMENTAL FINANCING COMMISSION , 1 On November 23,1993, the City Commission adopted Resolution Number 93 R-0071 authorizing a loan from the l Sunshine State Governmental Financing Commission in an amount not to exceed $25,500,000 to facihtate the retirement l of the City's Capital Bonds, Series 1984 (refunded issue). Proceeds of the refunding loan wih be deposited in an escrow account with a trustee, to be invested in U. S. Treasury securities that, together with interest thereon, will provide i amounts sufficient (i) for future payments of principal and interest on the refunded bonds which are current interest bonds i through October 1,1994, and to call such refunded bonds maturing on or after October 1,1995 for redemption on l October 1,1994 at a redemption price of 102% and (ii) to call the refunded bonds which are capital appreciation bonds for redemption on October 1,1994 at a redemption pnce of 110% of accreted value. The loan is secured by an escrow
)
account funded by certain city revenues and a pledge of certain general government revenues. Such pledge shall be I subordinate to the lien of the City's outstanding Capital Bonds and all future parity debt. i l l l l 1 i i l B-4 7
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l I l l 2 I l e i E i I THIS PAGE INTENTIONALLY LEFT BLANK 1 i o i d k 1 5 4 <h 1
t 1 COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP STATEMENTS AND SCHEDULES 1 These financial statements provide a more detailed view of the " General l Purpose Financial Statements" presented in the preceding sections. ) Combining statements are presented when there are more than one fund l of a given fund type. 1 1 i
3 i I I GOVERNMENTAL FUNDS t GENERAL FUND SPECIAL REVENUE FUNDS DEBT SERVICE FUND
- CAPITAL PROJECTS FUNDS i
! GENERAL FUND
- The General Fund accounts for all financial resources not properly 1
accounted for in another fund. 1 } 9
CITY OF TALLAHASSEE, FLORIDA GENERAL FUND BALANCE SHEET September 30 1993 1992 ASSETS Cash and Cash Equiva!ents.. $ 3,998,000 $ 3,039,900 Receivables Customers . 688,800 632,100 Accounts . 1,199,600 2,100,700 Note.. 15,000 15,000 Property Taxes-Delinquent.. 82,000 - Less: Allowance for Doubtful Accounts.. (133,000) (10.100) Due from Other Funds.. 97,500 52,400 Advance to Other Funds . 472,700 530,800 Inventory.. 10.300 7,600 Total Assets., .. S 6.430 900 $ 6.368,400 LIABILITIES AND FUND BALANCE Liabilities: Accounts Payable.. $ 1,456.600 $ 1,413.200 Due to Other Funds . 58,500 78,700 Deferred Revenue.. 217.900 107.000 Total Liabilities,. 1,733 000 1.598.900 Fund Balance: , I Reserved for: Inventory . 10,300 7,600 l Advance to Other Funds . 472,700 530,800 l Law Enforcement.. 14,900 54,400 Note Receivable . 15,000 15,000 Encumbrances . 1.182.500 1,319.000 Total Reserved.. . ,,, , 1,695.400 1,926.800 Unreserved!Undesignated . 3.002,500 2,842,700 Total Fund Balance., .. . - , 4.697.900 4,769.500 l Total Liabilities and Fund Balance.. . . S 6.430,900 $ 6,368,400 l I C-1
CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF REVENUE Fiscal Year Ended September 30 1993 1992 ; Actual Actual i on Vanance- on l Budgetary Favorable Budgetary l Budget Basis (Unfavorable) Basis Taxes:
]
Ad Valorem . $ 10.050,000 $ 10,123,700 $ 73,700 $ 9,795,700 ) General Safes and Use Taxes' l Local Option Gas Tax.. - - - 2,944,300 Local Option Sales Tax.. - - - 8,070,200 l Local Afternative Fuel User Fee.. - 4,500 4,500 - Public Service Taxes. Electricity.. 6,578,500 7,060,900 482,400 6,536,100 Telecommunications . 2,050,000 2,529,300 479,300 1,749,200 Water. 900,000 1,008,600 108,600 913,500 Gas. 579,800 602,000 22,200 553,200 Propane.. 215,800 161,100 (54,700) 190,200 Fuel Oil.. 55,100 31,700 (23,400) 39,600 Franchise Fees Telephone . 840,000 945,500 105,500 872,100 Cable Television.. 670.800 797,200 126.400 453.000 Total Taxes.. . ., , . . 21.940.000 23,264.500 1,324.500 32,117,100 Licenses and Permits: I Occupational . 855,800 925.900 70.100 889.600 Building Permits . 800,000 804,300 4.300 705,500 Other.. 505.100 503.700 (1,400) 460.600 Total Licenses and Permits.. 2.160.900 2.233.900 73.000 2.055,700 Intergovernmental Revenue: Federal Grants: Economic Environment.. 413 400 344,900 (68.500) 324,000 Transportation . 333,700 191.800 (141,900) 113.400 State: Shared Revenues Local Government 1/2 Cent Sales Tax . 4.750,000 5,278,100 528 100 4,758.000 Two-Cent Cigarette Tax. 290,000 271,500 (18.500) 265.600 I Revenue Shanng . 3.200.000 3.318,200 118.200 3,209,400 Mobile Home Licenses . 59.200 35,100 (24.100) 50,600 Alcoholic Beverage License . 79.600 74,300 (5,300) 81,600 l Transportation . - 1,029.100 1,029,100 - l Public Safety- , Firefighters' Supplemental l Compensation. . 26,000 26,000 -- 29,500 l County:
)
City Share of County Occupational j Licenses.. 100,600 137,900 37,300 64,200 i Payments-in-Lieu-of Taxes . -- 300 300 500 j TotalIntergovernmental i Revenue., 9,252.500 10.707,200 1.454.700 8.896,800 C-2
]
l l CITY OF TALLAHASSEE, FLORIDA ; GENERAL FUND SCHEDULE OF REVENUE (Continued) I Fiscal Year Ended September 30 ' 1993 1992 , Actual Actual l on variance- on ; Budgetary Favorable Budgetary l Budget Basis (Unfavoiable) Basis Charges for Services: General Government Charges Zoning Fees.. $ 23,500 5 126,200 $ 102,700 $ 58,900 County for Planning Dept . 849.000 877,400 28,400 781,200 Cost Allocation . 3,649,100 3,649,200 100 2,582.800 Sale of City Code Books . 5.000 4.200 (800) 10.000 Public Safety Charges Pohce Services . 38,600 43.000 4,400 44,400 County for Fire Protectiort 2,133.400 2,133,400 - 2,046.800 Physical Environment Charges Lot Mowing and Cleanng.. 7,600 7,800 200 3,900 ! Environmental Analysis . 18,700 30,100 11,400 27,200 l Concurrency Fees.. - 37,200 37.200 - j Transportation Charges l
; Partung Facility.. 703.500 661,300 (42,200) 679,300 l j Traffic Signal Maintenance . 35.500 32.200 (3,300) 45,200
]
i Parking Meter Recetpts.. 275,600 279.900 4,300 276.400 1 Right of-Way Maintenance . 278.700 282,900 4,200 278.800 Human Services Charges Animal Shelter Fees . 125.000 103.200 (21,800) 75,700 Parks and Recreation i Program Activity Fees . 630,500 737,900 107,400 706.900 l Swimming Pools . 80,900 95.400 14,500 102.200 l l Othe r. . 10,000 23,100 13,100 4,700 j County for Parks and Recreation . 885.900 885.900 -- 850.000 Total Charges for Services.. 9.750,500 10.010.300 8,574.400 259.83 _0 Fines and Forfeitures: 797,100 152,100 813,600 Traffic Fines . 645.000 - Partung Violations . 498.900 508,800 9,900 441,000 Pohce Education.. 21.300 14.900 (6.400) " 16.700 Total Fines and Forfeitures,. 1,165.200 1,320.800 155.600 1.271.300 a l C-3
d CITY OF TALLAHASSEE, FLORIDA GENERAL FUND l SCHEDULE OF REVENUE (Continued) Fiscal Year Ended September 30 1993 1992 Actual Actual on Variance- on Budgetary Favorable Budgetary Budget Basis junfavorable) Basis Miscellaneous Revenues: Interest.. $ 292,000 $ 295.700 $ 3,700 $ 382,300 Rents and Royalties . 223,700 200.000 (23.700) 207,000 Sales: Cemetery Lots . 173.000 135,400 (37,600) 117,600 Surplus Traffic Matenats . - 22,500 22,500 42.500 Other.. 102.600 1.391,900 1.289.300 236.000 Total Miscellaneous Revenue. . 791.300 2.045.500 1,254.200 985.400 Total Revenue.. . . . -$ 45.060.400 $ 49.582.200 $ 4.521,800 $ 53.900.700 I l l l 1 l Cs l
CITY OF TALLAHASSEE, FLORIDA GENERALFUND ) SCHEDULE OF EXPENDITURES 1 Fiscal Year Ended September 30 1993 1992 Actual on Vanance-Budgetary Favorable l Budget Basis (Unfavorable) Actual Actual l Genoral Government: '! Legislative City Commission Personal Services . $ 339,400 $ 326.200 $ 13,200 $ 326,200 $ 311,100 Other Operating . 83,900 77,000 6,900 77,000 65,400 Capital Outtay . 1.100 1,100 - 1,100 - Tot;l Legislative., 424.400 404.300 20,100 404.300 376.500 Executive City Manager Personal Services . 727,000 639,700 87,300 639,700 668,300 Other Operating 208.800 182.800 26,000 182.600 135.200 Total Executive., 935.600 822,500 113.300 822.300 803.500 Financial and Administrative Treasurer-Clerk Personal Services . 453.400 452,700 700 452,700 428,200 Other Operating 234,100 224.600 9.500 263,900 487,700 Capital Outlay . - - - - 9,100 687,500 677,300 10.200 716.600 _ 925.000 , Management and Budget Personal Seroces - 659.800 548,300 111,500 548,300 612,200 Other Operating - 297,500 278.800 18,700 281.100 2;6,100 Capital Outlay . - -- -- - 1,600 957,300 827.100 130.200 829.400 8f 9.900 Records Management Personal Services . 353,000 332,600 21,300 332,600 323,100 Other Operating . 201,100 193,900 7,200 201,200 187,800 Captal Outlay. - - - - 1,500 i 555 000 526.500 28,505~ 533.800 512,400 , I Resi Estate j Personal Services 268,100 266,100 2,000 266,100 235,500 Other Operating 481,400 261,600 219,800 285,900 235,000 Capital Outlay - - - - 4.400 749.500 527.700 221,800 552.000 474,900 i l l l l C5
CITY OF TALLAHASSEE, FLORIDA l GENERAL FUND SCHEDULE OF EXPENDITURES (Continued) i Fiscal Year Ended September 30 1993 1992 l l Actual on Vanance-Budgetary Favorable Budget Basis (Unfavorabic) Actual Actual , General Services l Personal Services . $ 199.000 $ 203,700 $ ( 4.700) $ 203,700 $ 178.900 i Other Operating . 147.200 152.900 (5.700) 152.600 149.800 346.200 356.600 (10.400) 356.300 328,700 l Internal Audit Personal Services . 352.000 354.800 (2,800) 354.800 321,600 Other Operating . 48,800 42.700 6.100 42,800 43.500 Capital Outlay.. - - - - 900 400.800 397,500 3,300 397,600 366.000 Total Financial and Administra tive.. . . 3.696.300 3.312.700 383.600 3.385.700 3.496.900 Legal Personal Services . 606,900 600.600 6.300 600,600 201,000 Other Operating . 928,700 934.200 (5,500) 912.200 1,057,800 Capital Outfay . 60.600 55.600 5.000 52.700 - Total Legal.. . 1.596.200 1.590.400 5.800 1.565.500 1.258.800 Planning Comprehensive Planning Personat Services . 1,530.200 1,501,500 28,700 1,501,500 1,393.000 Other Operatsng . 380.900 375,800 5,100 375 200 436.000 Capital Outiay . 18,200 16.900 1.300 16,900 21,500 1.929 300 1.894.200 35,100 1.893.600 1.852.000 Growth Management Personal Services . 504.300 474.300 30,000 474,300 391.900 Other Operating . 437,100 394.400 42,700 394,700 286.400 Capital Outlay.. - - - 2.400 1.200 941.40T 868.700 72.700 871,400 679.500 Total Planning., . 2.870.700 2.762.900 107.800 2.765.000 2.531.500 d i C6
l CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES (Continued) Fiscal Year Ended September 30 1993 1992 Actual on Vanance. Budgetary Favorable Budget Basis (Unfavorable) Actual Actual Other General Government PubhcWorks Administration Personal Services . $ 361,500 $ 369.000 $ ( 7,500) $ 369.000 $ 349,500 Other Operating - 1.290.000 1.288.500 1.500 1.287.700 975.900 1.651.500 1.657.500 (6.000) 1.656.700 1,325.400 Non-Departmenta! l Other Operating . 1.056.700 863.700 193.000 738.700 1.513.100 1.056.700 863.700 193.000 738.700 1.513.100 l Code Enforcement Board Personal Services . 66.400 65.000 1.400 65.000 62,000 Other Operating . 20.500 12.900 7.600 12.400 15.800 86.900 77.900 9.000 77.400 77.800 City Hall Maintenance Personal Services . 362,800 358.600 4.200 358,600 327,300 Other Operating 677,400 633.800 43.600 627,800 627,800 Capital Outlay . 2.000 - 2.000 - -- 1.042.200 992.400 49,800 986.400 955.100 Cable Communicat: ens Persona: Services . 83.300 82.600 700 82.600 70.500 Other Operatmg 39.700 39.400 300 14.900 12.000 ; 123.000 122.000 1,000 97.500 82,500 ! Intergovernmental Relations Personal Services . 445.000 396,700 48.300 396.700 217,000 Other Operating . 196.500 130.500 66,000 137,700 173,300 Capital Outlay 3.400 3.100 300 500 5,500 644 900 530.300 114 600 534.900 395.800 Total Other General Government., , , 4,605.200 4.243.800 361.400 4.091.600 4.349.700 Total General Government., 14 128.600 13.136.600' 992.000 13.034.400 12.816.900 C-7
CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES (Continued) Fiscal Year Ended September 30 1993 1992 Actual on Vanance. Oudgetary Favorable Budget Basis (Unfavorable) Actual Actual Public Safety: 4 Law Enforcement Personal Services - $ 17,582,000 $ 17.097,600 $ 484,400 $ 17,097,600 $ 16,258,200 Other Operating . 5.293.400 5,297,800 (4.400) 5.308.500 4,703.800 Capital Outlay 100.300 97,900 2,400 103.000 147,300 1 Total Law Enforcement... . 22.975.700 22.493.300 482.400 22,509.100 21,109.300 q F-e Centre! Personal Services - 9.044.300 8,817,700 226.600 8,817,700 8,656.500 M ern yrahng 2,913.200 2,782.900 130,300 2,767,700 2,766.100 Capital Outlay.. 79,100 71,000 8,100 175.800 34.600 Total Fire Control., , 12.036.600 11.671.600 365.000 11,761,200 11.457.200 Protective inspection Building Inspection Personal Services . 1,058.100 1,051,500 6,600 1,051,500 1,048.700 Other Operating . 120,700 124,100 (3.400) 122,300 122,400 Capital Outlay.. - - - - 12.100 1,178.800 1.175.600 3.200 1.173.800 1,183.200 Code Enforcement Personal Services . 328,100 319.000 9.100 319.000 293,500 Other Operating . 71.100 35.200 35.900 36.100 38.000 399 200 354.200 45.000 355 100 331,500 Total Protective lnspection.. . . 1,578.000 1,529,800 48.200 1,528.900 1,514,700 Total Public Safety,. ,, 36.590.300 35 694.700 895.600 35.799.200 34.081,200 Transportation: Road and Street Facihties Street Ughting Personal Services . 62,900 53,100 9.800 53.100 47,100 Other Operating . 1,096,700 1.049.100 47,600 1.049.100 865.000 1.159.600 1,102.200 5/,400 1,102.200 912,100 Right-Of Ways Personal Services . 1,487,000 1.379,200 107,800 1,379,200 1,322,200 Other Operating . 459.800 444,400 15.400 438,900 518,300 Capital Outlay.. 6.100 6.100 - 6.100 37.500 1.952.900 1.829.700 123 200 1.824.200 1.878.000 C8
CITY OF TALLAHASSEE, FLORIDA GENERALFUND SCHEDULE OF EXPENDITURES (Continued) Fiscal Year Ended September 30 1993 1992 Actual on Vanance Budgetary Favorable Budget Basis (Unfavorable) Actual Actual Streets Personal Services . $ 2.137,000 $ 1,837,100 $ 299,900 $ 1,837.100 $ 1,780.700 Other Operating . 1,580,200 1,475,100 105,100 1.490.400 1,496,800 Capita! Outlay . 16.800 14.800 2,000 12 300 16.800 3.734.000 3,327.000 407,000 3.339.800 3.294.300 Traffic Engineen~; Personal Services . 1,496.900 1,398,000 98.900 1,398,000 1,364,200 Other Operating . 759,100 807,500 (48,400) 787.300 752.300 Capital Outlay. -- - - 10,600 16,400 2.256 000 2.205.500 50.500 2.195.900 2,132,900 Landscape and Tree Maintenance Personal Services . 325,300 309.700 15,600 309.700 279,700 Other Operating . 84.600 122.300 (37,700) 122.100 74.400 409.900 432.000 (22.100) 431.800 354.100 Total Road and atreet Facilities... . . .. 9.512.400 8.896 400 616.000 8.893.900 8.571,400 Parking Facilities Other Operatir.g 302.400 280.500 21.900 280.500 273.500 Total Transportation.. . . . 9 814.8F 9,176,900 637,900 9,174.400 8.844.900 Human Services: Smith-Wilkams Center Persona! Services . 137,600 127,200 10,400 127.200 108.100 Other Operating . 53.200 46.900 6,300 46,200 56.200 Capital Outlay . - - - - 900 190 800 174.100 16.700 173.400 165.200 Senior Citizen Center Personal Services . 189,900 171,600 18,300 171,600 152,500 Other Operating . 86.700 70,000 16,700 79,900 73.400 Caoital Outlay . - - - - 900 276.600 241.600 35 000 251,500 226.800 Lincoln Center Personal Services . 131,400 131.600 (200) 131,600 126,300 Other Operating . 89.200 78,100 11.100 80.800 73.700 Caoital Outlay . 900 900 - 900 - 221.500 210 600 10.900 213.300 200.000 C9
I l I CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES (Continued) Fiscal Year Ended September 30 1993 1992 Actual on Vanance. Budgetary Favorable Budget Basis (Unfavorable) Actual Actual Administration Personal Services . $ 259.500 $ 242,600 $ 15.900 $ 242.600 $ 183,700 Other Operating 751.500 728.000 23.500 772.100 651,000 1.010.000 970 600 39.400 1.014.700 834.700 l l Human Resource Development Personal Services 142,600 138,300 4,300 138.300 100.300 Other Operating . 348,400 343,400 5.000 343,400 15.400 Capital Outlay.. - - - 5.700 8.600 491,000 481,700 9.300 487,400 124,300 Housing Trust Operations Personal Services . 208.000 190.400 17.600 190.400 205.600 Other Operating . 25.800 21,700 4,100 21,100 32.600 Capital Outlay 33.000 29.100 3 900 14.200 9.600 266.800 241.200 25.600 225.700 247,800 Total Human Services.. . . . 2 456.700 2.319.800 136.900 2.366.000 1.798.800 Economic Environment: Industry Development Minonty Business Office i Personal Services . 130.300 138.900 400 138.900 120,700 Other Operating . 19.700 18,100 1.000 18.100 16.300 Capital Outray . 9.700 8.700 1.000 9.900 6.400 168.700 165.700 3.000 166.900 143.400 Downtown Development Office Personal Services . 144.500 140.000 4,500 140,000 87,200 Other Operating . 11,600 11,400 200 10.700 29,300 l Capital Outlay . - - - - 13.100 156.100 151.400 4.700 150,700 129.600 Total lndustry Development.. 324.800 317.100 7.700 317.600 273.000 i Housing and Urban Developmeat Personal Services . 250.000 252,600 (2.600) 252,600 270.600 Other Operating . 284.900 189,700 95,200 191,900 168,100 Capital Outlay . - - - 2.900 2.800 534,900 442.300 92.600 447.400 441.500 , l Total Economic Environment., 859.700 759.400 100.300 765.000 714.500 l l l l 1 l l C-10 ) i i
CITY OF TALLAHASSEE, FLORIDA GENERALFUND SCHEDULE OF EXPENDITURES (Continued) Fisca Year Ended September 30 1993 19' t Actual on Vanance-Budgetary Favorable Dudget Basis (Unfavorable , Actual Actual Physical Environment: Environmental Services Peraonal Services $ 934.800 $ 920.200 $ 14,600 $ 920,200 $ 909,600 Othor Operating . 114,100 108.700 5.400 113,200 151,800 Cauital Outlay.. - - - 12.700 37,700 1.048.900 1.028.900 20.000 1,046,100 1.099.100 Cemetenes Personal Services . 76,600 75,800 800 75.800 65,000 Otner Operating . 245.000 209,500 35,500 208.700 188.400 321,600 285,300 36.300 284.500 253.400 Engineenng Personal Services . 1,285,300 1,084,400 200,900 1,084,400 1,140,000 Other Operating 214,000 194.000 20,000 163.600 256.300 Capital Outlay.. 2.800 2.800 - 32.000 1,900 1.502.100 1,281.200 220.900 1.280.000 1.398.200 Total Physical Environment.. 2.872.600 2.595.400 277.200 2.610.600 2.750,700 Cultu?e and Recreation: Administration Personal Services.. 464,500 567,500 (103.100) 567,500 587.200 Other Operating 767 900 735.600 32.400 729.900 710.300 1.232.400 1.303,100 (70.700) 1,297.400 1.297.500 Grounds and Facihtres Persona! Service . 2.164,600 2,096,000 68.600 2.096,000 1,891,500 Other Operating . 1,194.000 1,186.200 7,800 1,186,000 1,052,200 Capital Outlay.. 44.700 38.000 6,700 32,100 96.900 3.403.300 3,320,200 83.100 3,314,100 3.040.600 Recreation Personal Services . 1,398.400 1.266.900 131.500 1,266.900 1,369.200 Other Operating 454.900 421,400 33,500 418.500 538,100 Capital Outlay . 16.700 9.400 7,300 10.100 25.200 1.870.000 1.697,700 172.300 1,695.500 1.932.500 Athletics Personal Services . 1,000.600 963.800 36,800 963,800 669.600 Other Operating . 431,700 405,500 26.200 411,200 259.200 Capital Out!ay 10 600 7.800 2.800 7,800 - 1.442 900 1.377,100 65.800 1.382.800 926.800 l Total Culture and l Rocreation., 7.948 600 7.698.100 250.500 7,689.800 7.199.400 l Total Expenditures., , . $ 74.671.300 $ 71.380.900 $ 3.290.400 $ 71.439.400 $ 68.206.400 C 11
i CITY OF TALLAHASSEE, FLORIDA GENERALFUND SCHEDULE OF TRANSFERS Fiscal Year Ended September 30 1993 1992 Vanance Favorable Budget Actual (Unfavorable) Actual Operating Transfers: Operating Transfers in Electric Fund . $ 40,259,600 $ 40,259,600 $ -
$ 39,690.600 Water Fund.. 2,668,800 2,668.800 - 2,388,900 Gas Fund . 2.094.400 2,094.400 - 1,887,800 l Sewer Fund . 691,000 691,000 - 532,800 Special Projects Fund.. - 33,400 33.400 11,600 Solid Waste Fund.. - - - 126,500 Capitaf Bonds Construction Fund . - - - 17,100 Total Operating Transfers in,. .$ 45.713.800 $ 45.747,200 $ 33.400 $ 44.655.300 Opereting Transfers Out.
Special Capital Projects Fund . $ -
$ - $ 1,282,400 i Capital Improvement Fund . 5.227,500 12,864.600 (7,637,100) 6.402,100 I
Tallahassee Transit Fund . 4,590.400 4,101,800 488,600 3.883,500 Deficiencies and Emergencies Fund . - 884,500 (884.500) 2,108.100 Golf Course Fund . 766.800 922,800 (156,000) 621,700 Debt Service Fund . 5,190,200 4,722,100 468,100 4,717,600 Special Projects Fund . 328.000 328,000 - 1,296,000 Sales Tax Construction Fund . - - - 7,712,100 Gas Tax Construction Fund . -- - - 2,350,000 Electnc Fund . - 9.000 (9,000) - Sewer Fund . - 50.800 (50.800) - Total Operating Transfers Out.. , , $ 16.102.900 $ 23,883.600 $ ( 7,780.700) $ 30,373.500 Residual Equity Transfer: Residual Equity Transfer - Forest Meadows Fund . $ -
$ ( 1.365.900) 1 l
i j C-12 i i
i i i 1 4 i i SPECIAL REVENUE FUNDS l 1 i . 4 Special Projects Fund-to account for Federal, State, local and other revenues that are to be used for specific general government purposes. i i Stormwater Management Fund-to account for fees restricted for
- stormwater operating and capital costs.
4 , Law Enforcement Forfeiture Fund-to account for forfeitures received by
- the City as prescribed by Florida Statutes, I
f 1 e d i 4 i 1 2 2
l l CITY OF TALLAHASSEE, FLORIDA SPECIAL REVENUE FUNDS ! COMBINING BALANCE SHEET ! September 30,1993
- Law Totals l Special Stormwater Enforcement September September
! Projects Management Forfeiture 30.1993 30,1992 ASSETS Cash and Cash Equivalents.. $ 7,083,500 $ 5,778,500 $ 265,700 $ 13,127,700 $ 10,403,900 investments., . . _ . . 644,900 - - 644,900 1,046,700 l Notss Receivable . 349,500 - - 349,500 230,900 Accounts Receivable., 413.200 361.400 - 774,600 878.700 l 1 Tot:1 Assets.. -- $ 8,491,100 $ 6.139.900 $ 265.700 $ 14.896,700 $ 12.560.200 l l l LIABILITIES AND FUND BALANCES , l l Liabilities: Accounts Payable . $ 255.200 $ 143.300 $ 900 $ 399.400 $ 325.300 Total Llabilities= 255.200 143,300 900 399.400 325,300 Fund Balances: Reserved for Projects.. 7,886,400 3.819,200 143,800 11,849,400 10,472,700 Notes Receivable.. 349.500 - - 349.500 230,900 Total Reserved : 8.235,900 3,819,200 143,800 12,198,900 10,703,600 Unreserved /Undesignated., - 2.177,400 121,000 2,298.400 1,531.300 Total Fund Balances-- 8.235.900 5.996 600 264.800 14.497,300 12.234,900 Total Liabilities and Fund Balances., $ 8.491.100 $ 6,139.900 $ 265.700 $ 14.896,700 $ 12.560.200 l f i l l l 1 C-13 i i
, _ . . _ , . , . _ . . . , _ . . , . . . , . . . . - . , . _ . . . . , _ . . . _ _ _ . , _ . . , . _ _ _ . _ . _ _ . . _ _ _ _ . - . _ _ _ _ _ . ~ . _ _ _ _ . . _ _ _ _ .
CITY OF TALLAHASSEE, FLORIDA SPECIAL REVENUE FUNOS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES For the Fiscal Year Ended September 30,1993 Law Totals Special Stormwater Enforcement September September j Projects Management - Forfeiture 30,1993 30,1992 I Revenues: Intergovemmental Revenues . . $ 2,153,000 $ - $ - $ 2,153,000 $ 2,363,800 Charges for Services.. - 6,776,700 - 6,776,700 5,941,100 Fines and Forfeitures.. - - 70,800 70,800 173,000 Interest Earned . 34,500 297,200 18,100 349,800 320,100 Miscellaneous Revenues . 84,100 8.200 - 92.300 27,400 Total Revenuesx . 2.271.600 7,082,100 88.900 9.442.600 8.825.400 Expenditures: Current General Government. 227,700 - - 227,700 752,100 Public Safety. 114.800 - 133,100 247,900 186,000 Transportation.. 1,014,500 - - 1,014,500 506,600 Human Services., 632,900 - - 632,900 596,500 Economic EnvironmenL, 1,320,000 - - 1,320,000 1,282,200 Physical Environment.. 196,600 5.624,800 - 5,821,400 4,407,200 Cultural and Recreabon.. 98,200 - - 98,200 147,800 Capital Outlay.. 432.300 - 78.700 511.000 407,500 Total Expenditures-- 4.037.000 5.624.800 211.800 9.873.600 8.285.900 i 4 I Excess of Revenues Over(Under) Expenditures. (1,765.400) 1.457.300 (122,900) (431.000) 539.500 Other Financing Sources (Uses): Operating Transfers in.. 2.927,300 - - 2,927,300 4,281,100 Operating Transfers Out.. (233.900) - - (233.900) (318.100) Total Other Financing Sources (Uses)- 2.693.400 - - 2.693.400 3.963.000 Excess of Revenues and Other Financing Sources Over(Under) Expenditures and Other Financing Uses,..., .. 928.000 1,457,300 (122.900) 2,262.400 4,502,500 Fund Balances October 1.. 7.307.900 4.539.300 387,700 12.234.900 7,732.400 Fund Balances . September 30,, - $ 8 235.900 $ 5.996.600
$ 264.800 _$ 14.497,300 $ 12.234.900 i
l C.14 I l
-. -. - _ . - . ~ . . . - - - - - _-. - , . . - . - - - _ _ . _ - - -
DEBT SERVICE FUND To account for the accumulation of resources for, and the payment of generallong term debt principal and interest. I i i i I l l l l l l 1
i
- CITY OF TALLAHASSEE, FLORIDA
. DEST SERVICE FUND i BALANCE SHEET i, September 30 4 l 1993 1992 ^ ASSETS Cash and Cash Equivalents-. $ 3,586,900 $ 3,460,200 Investments - 15,827,600 12,913,200 g i Accrued Inte'est Receivable . 373,400 319,800 i Deposits _ 64,200 62,500 Total Assets., $ 19.852.100 $ 16,755,700 3 i ! FUND BALANCES } Fund Balance: Reserved for. Current Debt Service . $ 516,600 $ 648,900 Future Debt Service . 19.335,500 16.106.800 Total Reserved- 19,852,100 16.755.700 Total Fund Balance - $ 19.852,100 $ 16.755.700 DEBT SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE Fiscal Year Ended September 30 1993 1992 Revenue: Interest Eamed . $ 958.000 $ 813.400 Expenditures: Debt Service Principal Retirement _. 16 932,100 600,100 Interest and Fiscal Charges.. 3.582.800 3.602,800 Advance Refonding Escrow . 1.481,600 - Total Expep litures-. . _ 21,996.500 4.202.900 Excess of F evenues (Under) Expenditures., ,, (21.038.500) (3,389.500) Other Financing Sources (Uses): Debt Proceeds.. 19,670,000 - Operating Transfers in.. 5,014,300 5.024,100 Refunding Bond Issuance Costs.. (549.400) - Total Other Financing Sources (Uses)-- 24.134.900 5,024.100 Excess of Revenues and Other Financing Sources Over Expenditures : 3.096,400 1,634,600 Fund Baiance - October 1.. 16.755,700 15,121.100 Fund Balance September 30,- $ 19.852,100 $ 16.755.700 C-15 m _ ,_. ._ . ___
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1 l CAPITAL PROJECTS FUNDS - Capital Improvements Fund-to account for general revenue used for the acquisition or construction of general fixed assets. Capital Bonds Construction Fund-to account for bond proceeds used for the acquisition or construction of general fixed assets. Transportation impact Fee Construction Fund-to account for impact fees used for the acquisition or construction of transportation improvements. Sales Tax Construction Fund-to account for tax proceeds used for the acquisition or construction of public safety and transportation improvements. Gas Tax Construction Fund-to account for tax proceeds used for the acquisition or construction of transportation improvements. l i
CITY OF TALLAHASSEE, FLORIDA CAPITAL PROJECTS FUNDS COMBI *dlNG BALANCE SHEET September 30,1993 ] Capital Transportation Totals j Capital Bonds impact Fees Sales Tax Gas Tax September September i improvement Constructen Construction Construction Construction 30.1993 30,1992 ASSETS Cash and Cash Equivalents.. $ 40,499,100 $ 2.559.300 5 4,795,600 5 26.721.400 $ 944,800 5 75,520,200 $ 61,190.800 j i Accounts Receivable.. 36,100 - - - 220,400 256.500 151,000 l l Accrued interest Receivable.. 76,300 - - - - 76,300 65,700 Investments . 965,700 19.384,900 - 887,400 - 21.238.000 17,303.300 [ Special Assessment Receivable: Current.. 281.900 - - - - 281.900 245,700 Deferred.. 164,400 - - - - 164.400 164.400 Advance to Other Funds.. 892.900 - - - - 892.900 - i Due from Other Funds.. 144,900 - - - - 144.900' 200 ' Due from Other Govemments . 10.600 - - - - 10.600 1.095.400 Total Assets S 43.071.900 $ 21.944.200 5 4.795.600 5 27.608.800 5 1.165.200 5 98.585.700 $ 80.216.500 4 O LIABILITIES AND FUND BALANCES O Liabilities: Accounts Payable.. 5 18.200 $ 8,400 $ - 5 9,400 $ 1.300 $ 37.300 5 134,500 4 Due to Other Govemments . - - 169,500 - - 169.500 2,806.800 f Retainage Payable.. _ 791,100 522,700 - 669,200 9,600 1,992,600 1,344.400 Deferred Revenue.. 169.400 - - - - 169.400 174.400 t i Total Liabilities 978.700 531.100 169,500 678.600 10.900 2.368.800 4.460.100 ! Fund Balances: 1 Reserved for Encumbrances.. . . - . . - 5.291.400 10,713.800 187,800 1,048,100 66,900 17,308.000 18,614,700 Projects.. 13.101,200 10,411,200 - 6.220,100 555.900 30.288,400 32.836.200 i Advance to Other Funds.. . . . . 892.900 - - - - 892.900 - ! Total Reserved 19.285.500 21,125,000 187,800 7,268.200 622,800 48,489,300 51,450.900 i Unreserved /Undesignated.. _ , _ .. 22.807.700 288.100 4.438.300 19.662.000 531.500 47.727.600 24,305.500 Total Fund Balances 42.093,200 21,413.100 4.626.100 26.930.200 1.154.300 96.216.900 75.756.400 i Total Liabilities and Fund Balances $ 43.071.900 5 21.944,200 5 4.795.600 $ 27.608.800 $ 1.165.200 5 98.585.700 5 80.216.500 l i i L
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CITY OF TALLAHASSEE, FLORIDA CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN TUND BALANCES For the Fiscal Year Ended September 30,1993 , Capital Tra,'sportation Totals , Capital Bonds impict Fee Sales Tax Gas Tax September September i improvement Construction Cons ruction Construction Construction 30,1993 30,1992 ; Revenues: Local Option Sales Tax . $ - $ - $ - $ 9,048.500 $ - $ 9.048.500 $ - Local Option Gas Tax . - - - - 3,151,900 3,151,900 - Special Assessment Revenues.. 90,700 - - - - 90,700 188.200 intergovernmental Revenue.. - 1.800 - 821.500 33.000 856.300 112.900 Charges For Services , - - 1,123,800 - - 1,123,800 1,031,500 Interest Eamed . 1,726.300 715.800 : 233.800 1,337,500 80.800 4.094.200 4.382,000 Miscellaneous.. 542.000 - - - 300 542.300 3,404.100 Total Revenues 2,359.000 717.600 1,357,600 11.207,500 3.266,000 18.907,700 9.118,700 I Expenditures: !
- Capital Outlay
General Govemment . 1.906,300 95,700 - - - 2,002.000 1,270,200 2.653,800 3.069,800 1,092,500 p Public Safety.. _ 416.000 - - - 3,480.900 4;069.300 1,368,100 3.036,600 11,954.900 9.550,200
$ Transportation..
268,900 268,900 89,800 Human Services.. - 4 Economic Development.. 2,792,400 - - - - 2.792,400 1.996,500 ! Physical Environment.. 149.300 - - - - 149.300 21,400 Culture and Recreaton.. 2.035,800 50,400 - - - 2.086.200 675.500 ; l Total Capital Outlay 11,049.600 4,215,400 - 4.021,900 3,036.600 22.323,500 14.696.100 i Excess of Revenues Over I (Under) Expenditures (8.690,600) (3,497,800) 1,357.600 7,185.600 229,400 (3.415.800)
. (5.577.400)
Other Financing Sources (Uses): Proceeds from Sale of Bonds.. - 6.950.600 - - - 6.950.600 - Proceeds from Loan.. 254.600 - - - - 254.600 2.650,000 Reduction in Loan.. (867,600) - - - - (867,600) - - . Operating Transfers in . . 13,671,700 - - - - 13,671.700 17,100,300 Operating Transfers Out .. _ . . . (2,187.900) (119.100) - (385.100) - (2.692.100) (3,399.400) Total Other Financing Sources (Uses) 10.870.800 6,831,500 - (385,100) - 17.317,200 16,350.900 Excess of Revenue and Other Financing Sources ! Over Expenditures and Other Financing Uses _. 2,180,200 3,333,700 1,357.600 6.800,500 229,400 13,901,400 10,773.500 Fund Balances-October 1.. 33,353,900 18,079,400 3,268.500 20,129,700 924.900 75,756,400 64.982.900 Residual Equity Transfer in . 6,659,100 - - - - 6.659,100 - Residual Equity Transfer Out... (100.000) I
.. (100.000) - - - - -
Fund Balances-September 30 $ 42.093.200 $ 21,413,100 $ 4,626.100 $ 26.930.200 $ 1,154.300 $ 96.216.900 $ 75,756.400
3 d ENTERPRISE FUNDS d i j Electric Fund - to account for the assets, operation and maintenance of
- the City-owned electric system.
Gas Fund - to account for the assets, operation and maintenance of the City-owned gas system. Sewer Fund -to account for the assets, operation and maintenance of the City-owned sewer system. Water Fund-to account for the assets, operation and maintenance of the City-owned water system. Airport Fund - to account for the assets, operation and maintenance of the City-owned regional airport. Tallahassee Transit Fund -to account for the assets, operation and ; maintenance of the City-owned mass transportation system. I Solid Waste Fund -to account for the assets, operation and maintenance j of the City owned solid waste operation. Golf Course Fund -to account for the assets, operation and maintenance of the City-owned golf courses. l l l
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I l CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING BALANCE SHEET l September 30,1993 l Electric Gas Sewer Water ; ASSETS I Current Assets: j Cash and Cash Equivalents . $ 18,333,600 $ 898,800 $ 1,559,500 $ 1,002,500 Receivables- 1 Customers.. . 13.467,100 695,200 1,509,600 1,319,300 Other.. 370,100 - 43,300 11,400 i Less: Allowance for Doubtful Accounts.. (1,857,200) (97,200) (72,400) (79,900) Due from Other Funds.. - - - - Inventory.. 6,909.800 74,100 .. - Total Current Assets - . . . . 37,223,400 1.570,90_0 3,040,000 2,253,300 Restricted Assets: Cash and Cash Equivalents.. 57,380,500 954,800 9,498,200 12,261,300 investments . 34,952,000 622,300 4,648,100 1,871,700 Accounts Receivable.. 824,200 - 588.300 87,100 Notes Receivable - 6,678,400 - - - Due from Other Governments.. - - - - Total Restricted Assets-- . . . . . . . 99.835.100 1,577,100 14.734.600 14.220.100 Other Assets: Unamortized Bond Issue Cost . 445.100 22.300 298.300 78.300 Total Other Assets- 445.100 22.300 298.300 78.300 Fixed Assets: Fixed Assets . Cost.. .. 364,621,100 24,440,000 110,423,500 58,224.400 j Less: Accumutated Depreciation,. (150,290.300) (5,404,300) (28,794,300) (15,775.100) l Construction in Progress . 47,861.200 1,922.200 41.531.500 7,891,200 l Total Fixed Assets.. .. . 262.192.000 20.957,900 123.160.700 50.340,500 I l ~ Total Assets - 5 399.695 600 $ 24.128.200 $ 141.233.600 $ 66.892.200 l l l
)
D.2
. .- _ , . . _ . - . _ . . - . _ _ _ . - _ _ , _ , . . - _ _ . ~ . _ . - - ,- _ , _ .-. _ _ ,,_ - - _ _ _ __-_.2
l CITY OF TALLAHASSEE, FLORIDA i l ' I l Totals Tallahassee Sohd Golf September September Airport Transit Waste Course 30.1993 30,1992
$ 1,534.600 $ 761.200 $ 399,000 $ 122,100 $ 24.611,300 $ 21,463.800 484,200 145,100 956.000 --
18.576 500 17,856,300 665.000 59.300 - 1,149,100 460,300 (16.600) (4,300) (80,000) - (2,207,600i (2,723.200) 6,400 -- 200 -- 6,600 26,800 520.300 - 38.900 7,543,100 7.655.100 2,008.600 2.087,300 1,334,500 161,000 49,679.000 44,739,100 2,579.400 - 551,500 402,000 83,627,700 111.073.300 1,169.600 - - - 43.263,700 14.201,400 l - - - -- 1,499,600 1,037,400
- -- - - 6.678,400 6,206,200
- 1.600.800 - - - 1.600,800 1,520.400 5.349.800 -
551.500 402.000 136.670.200 _ 134.038.700 333.600 - - - 1.177.600 1.165.100 333.600 - - -- 1.177.600 1,165.100 l 57,735,600 15.527,700 2,303.600 1,855.100 635,131,000 590,939,800 (13,518.800) (5,686 800) (1.690,100) (500,700) (221,660,400) (203,044.400) 10 318.900 3.418.600 -- 334.800 113.278.400 96.266.200 54 535.700 13.259.500 613.500 1.689.200 526.749.000 484.161.600
$ 62.227.700 $ 15.346.800 $ 2.499.500 $ 2.252.200 $ 714.275.800 $ 664.104.500 D-3
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING BALANCE SHEET September 30,1993 (Continued) Electric Gas Sewer Water LIABILITIES AND FUND EQUITY Current Liabilities: Accounts Payab;e . $ 13,344.700 $ 769,800 $ 178.300 $ 137,600 Accrued Leave . 1,097,900 112,400 412,700 157,300 Arbitrage Rebate Payable.. 93,700 - -- - Customer Contracts Payable.. 856,100 - 900,000 650,000 Customer Advances . - - - - Due to Other Funds . - - - - Utility Deposits Payable.. 6.819,700 77,700 - 366.300 Prepaid Fees Credit Payable.. - - - - Total Current Liabilities.. 22.212.100 959,900 1.491,000 1,311.200 Payable from Restricted Assets: Retainage and Accounts Payable . 4.438,200 105,600 728,400 518 400 Customer Advances . - 5,600 - - Deferred Revenue . 400.800 - - - Total Payable from Restricted Assets.. . 4.839.000 111.200 728.400 518.400 Other Llabilities: Loans from Other Funds.. - 1.618,700 5.829,800 5,736,800 Advances from Other Funds.. -- 3,250,000 1,350,200 -- Customer Contracts Payable.. 12,600 -- 1,798,700 1,194,900 Customer Advances . - - - - Accrued Leave . 1,496.600 121,400 384,400 168.000 Bonds Payable . 118.872,300 3.071,800 37,636,500 8,451,700 Less Bond D:scount.. (1.377.700) (59.400) f735.300) (168.400) Total Other Liabilities.. . 119.003.800 8.002.500 46.264.300 15.383.000 Total Liabilities.. . 146.054.900 9.073.600 48.483.700 17,212.600 Fund Equity: Contnbuted Capital 2,126.000 - 18,521.200 - Retained Earnings Reserved . 94.996,100 1,465.900 14,006.200 13,701,700 Unreserved . 156.518,600 13.588.700 60.222.500 35,977.900 Total Fund Equity.. 253.640.700 15 054.600 92.749.900 49.679.600 Total Liabilities and Fund Equity.. . $ 399.695.600 $ 24.128.200 $ 141.233 60') $ 66.892.200 l D-4
CITY OF TALLAHASSEE, FLORIDA l l Totals ) Tallahassee Sohd Golf September September Airport Transit Waste Course 30.1993 30,1992 $ 182,300 $ 178.200 $ 626.700 $ 67,600 $ 15,485,200 $ 12,301,600 111,300 199,900 209,800 38,700 2,340,000 2,244,200
- - - - 93,700 -
-- - - - 2,406,100 2.170,600
- - - -- - 2,000 59,200 4.500 - - 63,700 55,300
- - - - 7,263,700 6,907,000 514.800 - - - 514,800 719,400 867,600 382.600 836.500 106.300 28.167,200 24.400,100 540,700 - 1,100 - 6.332,400 6,893,700
-- - - - 5,600 80,700 400.800 397.600 540.700 - 1,100 - 6.738,800 7,372.000
-- - - - 13,185 300 14,393,500 4.800,100 - - - 9,400,300 2,014,600
- -- - - 3,006,200 3.027.700
- -- - - - 148,200 198,900 97,500 323.200 31,900 2,821,900 2,823,800 11,885,000 - -- - 179,917,300 158.584,500 (190.900) - - --
(2.531.700) (2.939.200) i 16.693.100 97 500 323.200 31.900 205.799.300 178.053.100 ) 18.101.400 480.100 1,160.800 138.200 240,705.300 209.825.200 l l l 34 407,800 13.994.900 788.300 1,492,000 71,330,200 67,878,800 4.809.100 871,800 550,400 402,000 130,803,200 126,853,000 4.909.400 -- - 220.000 271,437,100 259.547,500 44.126.300 14 866.700 1,338.700 2,114,000 473.570.500 454.279.300
$ 62.22 7. /0C $ 15.346 800 $ 2 499 500 $ 2.252.200 $ 714.275.800 $ 664.104.5F l D5
i l CITY OF TALLAHASSEE, FLORIDA ) ENTERPRISE FUNDS , COMBINING STATEMENT OF REVENUES, EXPENSES AND 3 CHANGES IN RETAINED EARNINGS l For the Fiscal Year Ended September 30,1993 l 1 Electric Gas Sewer Water Operating Revenue: Charges for Services-Residential Sales.. $ 68,269,300 $ 3,700,600 $ 9,967,400 $ 8,346,300 Recyclables Sales.. - - - - Commercial and Industrial Sales . 84,349,200 7,229,200 9,301,200 5,208.400 Public Street and Highway Lighting . 1,229,600 - - - Sales for Resale.. 4,200,800 855,500 - - Sales to Other Funds.. 5,106,100 113,500 156,600 449.400 Surcharge . 1,161,700 5.800 330,900 976,700 Tapping Fees.. - 200 194,400 686,100 landing and Tie Down Fees , - - - - Late Fees.. 397,300 43,700 - 65,500 initiating Service . 589,800 57,800 - 481,000 Rentals . 255,500 - - 52,500 Cut-ins and Cut-fees . 642,100 63,400 - 367.100 Recreation Fees.. -- - - - Transportation Fees.. - - - - Other.. 1,837,600 5.100 405.100 3.700 Total Operating Revenues.. .. .. 168.039.000 12.074.800 20.355.600 16.636.700 Operating Expenses: Personal Services.. 13,252,800 1,317,500 5,948,400 2,852,900 Fossil Fuel.. 38,701,300 - - - Power Purchased.. 33.455,800 - - - Gas Purchased . - 6,059.900 - - Materials and Supplies . 1,168.300 101.200 1,253.200 479,200 Contractual Services.. 11,508,700 1,167,300 5.602.400 4,654,900 Other Expenses . 4,977,700 1,110.600 3,195,100 1,504,800 Less Applied Equipment Charges.. (75,200) (255,600) (19.000) (1,000) Depreciation _ 12.583.400 439,100 2,575,200 1,417,100 Amortization . 215,100 - 81.000 20.700 Total Operating Expenses., ,, 115.787.900 9.940.000 18,636.300 10.928.600 Operating Income (Loss).. 52.251.100 2.134.800 1.719.300 5.708.100 l l l D-6
._ _ . _ ~ , _ - . . . . _ - - _ __- .
CITY OF TALLAHASSEE, FLORIDA i i Totals Tallahassee Sohd Golf September September Airport Transit Waste Course 30.1993 30,1992
$ - $ -$ 6.844,800 $ ~ $ 97,128,400 $ 89,633,700
- 141,000 - 141,000 219,600
.. 6,190,200 - 112,278,200 102,639,200
- - - - 1,229,600 1,030,300
- - - - 5,056,300 6,819.400
-- - -- 5,825.600 5,254,700 1 - - - - 2,475,100 2,211,100
- - 880,700 586,200 116,900 - - - 116,900 314,500
-- - - - 506,500 473,400
- - - .. 1,128,600 892,000 5.547.400 - - - 5,855,400 5,248,400
- - - - 1,072,600 691,200
.. - - 873,500 873,500 858,100
- 1,759,000 - - 1,759,000 1,665,800 77.000 - 124.100 18.800 2.471,400 1.197,800 5.741.300 1.759.000 13.300.100 892,300 238.798.800 219.735.400 1,750.200 4,116,800 3,100,600 674,700 33,013,900 31,542,200 l - - - - 38,701,300 40,948,400 l - - -- - 33,455.800 30.423,400 l
- - -- - 6,059,900 4,519,300 l 407,500 1.035,300 108,000 301,400 4,854,100 4,000,900 1,772,100 1.570,500 9,391,800 211,900 35,879,600 33,840,100 i 101,100 518,600 136,300 237,800 11,782,000 13,519.800 (350,800) (649,900)
I 1,705.000 571,700 52,500 71,500 19,415,500 16,031,300 1 22 800 - - - 339.600 206.800 l 5.758 700 7.812.900 12.789.200 1.497.300 183.150.900 174.382.300 (17.400) (6 053.900) 510.900 (605.000) 55 647,900 45,353.100 i t i I D.7
l CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1993 (Continued) Electric Gas Sewer Water Nonoperating Revenues (Expenses): Interest Revenue . $ 6.028.300 $ 83,500 $ 686,.500 $ 677,800 Gain on Sale of Surplus Property.. 20,800 3,900 - - Grant Revenue.. - - - - Other Revenue.. 165,900 624,900 4.176.200 2,656,200 Interest Expense.. (2,172,900) (600) (10,600) (50,700) Other Expenses.. (3.123.600) (3.600) (227.100) (92,100) Total Nonoperating Revenues (Expenses)., . . . . 918.500 708.100 4.625.000 3.191,200 income (Loss) Before Operating Transfers and Extraordinary item.. 53,169,600 2,842,900 6,344,300 8,899.300 Operating Transfers in (Out): Operating Transfers in.. 881,200 - 50,800 - Operating Transfers (Out) . (40.554.600) (2.094.400) (883.300) (2,668.800) Income (Loss) Before Extraordinary item . .. 13,496,200 748,500 5.511,800 6,230,500 Extraordinary item: Loss on Refunded Bonds . (12,784.300) - - - l Net income (Loss),: . . . 711,900 748,500 5,511,800 6,230,500 l Disposition of Net income (Loss): Increase in Contributed Capital - - - 4 Depreciation on Contnbuted Assets . - - 681.100 - Net increase in Retained Earnings,. 711,900 748,500 6,192,900 6,230,500 Retained Earnings . October 1. As Restated . 250.802.800 14,306,100 68,035.800 43.449,100 Transfer Net Fixed Assets to General Fixed Assets Account Group.. - Residual Equity Transfer.. - - Retained Earnings . September 30., . $ 251.514.700 $ 15 054.600 $ 74.228.700 $ 49.679.600 l i l l [ D-8 l
H CITY OF TALLAHASSEE, FLORIDA l
-1 l
i ( , Totals < Tallahassee Solid Golf September September l Airport Transit Waste Course 30.1993 30.1992
.$ 216,900 $ -- $ - $ -
$ 7,693,000 $ 10,087,300
- - - - 24,700 28,400 1.598.000 - - 1,598.000 1,339,200 30,100 9,600 7,300 30,900 7,701,100 8,880,100 (624,700) - - - (2,859.500) (4,634,700)
(67,500) (179.100) (111,000) - (3.804.000) (846,300) (445.200) 1.428.500 (103.700) 30.900 10.353.300 14.854.000 (462.600) (4.625,400) 407,200 (574,100) 60,001,200 60,207,100 l l
- 4,824,700 - 922,800 6,679,500 5,250,000
! (64 400) (29.800) - - (46.295.300) (45.163,600) (527,000) 169,500 407,200 348.700 26,385,400 20.293,500
- - - - (12,784.300) -
(527,000) 169.500 407.200 348.700 13,601,100 20,293,500
- (12,700) - - (12,700) (405,800) 1.132.900 437.400 - - 2.251,400 2,363.100 605,900 594,200 407,200 348,700 15,839,800 22,250,800 9,112.600 277,600 143.200 273,300 386.400,500 364,179.700
- - - - - (1.395,900) 1.365 900 5 9.718 500 $ 871.800 5 550.406~ 5 622.000__ $ 402.240.300 5 386.400.500, 1
i D-9
__ _ _ ._. _ _ _ _ . _~ . _ - . . _ _ _ _ . _ _ _ _ _ _ _ . _ i ! CITY OF TALLAHASSEE, FLORIDA i ENTERPRISE FUNDS 1 COMBINING STATEMENT OF CASH FLOWS l For the Fiscal Year Ended September 30,1993 1 1 i Electric Gas Sewer Water increase (Decrease)in Cash and Cash Equivalents: Cash Flows from Operating Activities: Cash Received from Customers.. $ 163,839,800 $ 11,818.100 $ 20,141,300 $ 15,983,400 Cash Received from Other Funds . 5,106,100 113,500 156,600 449,400 Cash Payments to Suppliers for Goods and Services . (80,567.100) (7,363.500) (6,789,000) (3,976.400) Cash Payments to Employees for Services . (13.242,200) (1,304,900) (5,915,400) (2,854,300)
; Payments to Other Funds.. (7,136,800) (986.900) (3.397,900) (2,687.800)
Net Cash Provided by (Used for) Operating Activities,.. . 67,999.800 2.276,300 4,195,600 6,914,300 Cash Flows from Noncapital Financing Activities: Operating Transfers in from Other Funds.. 881,200 - 50.800 - Operating Grants Received.. - - - - ! Other.. (2,957,700) 621,300 3,949,100 2,564,100 4 Operating Transfers Out to Other Funds.. (40,554,600) (2,094,400) (883,300) (2,668.800) Residual Equity Transfer Out.. - - - - j Net Cash Provided by (Used for) ) Noncapital Financing Activities.. , ,. (42.631,100) (1,473.100) 3.116.600 (104,700) 4 Cash Flows from Capital and Related i Financing Activities:
, Receipts from Energy Loan Program.. 4,502,300 - - -
Proceeds from Sale of Bonds.. 44,181,500 - - - Advances from Other Funds - 3,250,000 850,200 - Capital Grants Received . - - - - Capital Contnbutions . - .. - Proceeds from the Sale of Property.. 20,800 - - - I Acquisition and Construction of Capital Assets.. (22.849.000) (3,989,800) (13,742,300) (5,632,200) Pnncipal and Refunding Payments . (34,203,400) (62.000) (862,300) (268.700) Repayment of Advance from Other Funds . - (101,900) (605.800) (500,500) Funding of Energy Loan Program , (5,260,300) - - - Interest Paid.. (7.966,900) (255.600) (2.698,200) (737,000) Net Cash Provided by (Used for) Capital and Related Financing Activities., . ...... (21.575.000) (1,160,100) (17,058.400) (7,138.400) Cash Flows from investing Activities: Proceeds from Sale and Matunties of I Investment Secunties . 36.225,600 350.900 2.323.900 2,084,900 Receipts of Interest on investments.. 7,704,000 163,500 1,010,500 877,800 Purchase of Investment Secunties.. (68 111,500) (307,100) (1,100.000) (674,500) Net Cash Provided by (Used for) Investing Activities.. . . . .., (24.181.900) 207.300 2.234.400 2.288,200 i 1 l a D-10
CITY OF TALLAHASSEE, FLORIDA l Totals Tallahassee Solid Golf September September Airport Transit Waste Course 30,1993 30,1992 $ 5,685,400 $ 1,789.200 $ 13,251,800 $ 892.300 $ 233,401,300 $ 214,338,700 l 5.825.600 5,254,700 l 1 (2,136.700) (2,467.400) (7,385,700) (568.700) (111,254,500) (105,234,300) (1,742,200) (4,136,300) (3.146,000) (662,300) (33,003,600) (31,412,500) (400.500) (681.800) (2.119.500) (149.200) (17,560.400) (18.006.400) 1,406.000 (5,496,300) 600,600 (487,900) 77,408,400 64,940,200
- 4,812,000 - 922,800 6,666.800 4,844.200
- 1,029,300 - - 1,029,300 1,466,800 (37,400) (167,600) (43.500) 2,400 3,930,700 8,009,700 (64,400) (29.800) - - (46,295,300) (45,163,600)
- - - - - (52,200)
(101.800) 5.643 900 (43 500) 925.200 (34.668.500) (30.895.100)
- - - - 4,502,300 4,914,500
- - - - 44,181,500 -
3.285,500 - -- -- 7,385,700 - 3.779,800 1,874.800 -- - 5,654,600 3.606,900 12.700 -- - 12,700 405,800 20.800 27,200 (6,068.200) (2,335,600) - (383,200) (55,000,300) (71,065.000) (240.000) - - -- (35,637,200) (4,085,700) (1,208,200) (145.800)
- -- -- ~ (5,260,300) (5,707,400)
(974.700) -- -- - (12.632.400) (7,009.100) l (217,600) (448.100) - (383.200) (47,980.800) (79.058.600) 148.600 - - - 41,133.900 22.637,000 216 900 -- 3.900 28.500 10,005.100 11,892,900 (3 100) - -- -- (70.196.200) (20 458.500) 362.400 - 3 900 28,500 (19.057,200) 14.071.400 l l o-11
i 3 ! CITY OF TALLAHASSEE, FLORIDA l ENTERPRISE FUNDS ) ! COMBINING STATEMENT OF CASH FLOWS : l For the Fiscal Year Ended September 30,1993 I i (Continued) d i ! Electric Gas Sewer Water ' Net increase (Decrease)in Cash and s Cash Equiva!ents , (20.388,200) (149,600) (7,511,800) 1,959,400 I Cash and Cash Equivalents at Beginning of Year.. 96.102.300 2.003.200 18.569.500 11.304,400 Cash and Cash Equivalents at End of Year.. .. . , . . $ 15.714.100 $ 1.853.600 $ 11.057,700 5 13.263.800 4 ) Classified As:
- Unrestricted Assets . 18,333,600 898,800 1,559,500 1,002,500 1 Restncted Assets.. 57.380.500 954 800 9.498.200 12,261,300 1.853,600 $ 11.057,700 $ 13.263,800
_$_75.714.100 $ $ Reconcillation of Operating income (Loss) l to Net Cash Provided by (Used for) Operating Activities:
- Operating income (Loss).. $ 52.251.100 $ 2.134.800 $ 1.719.300 $ 5.708.100
- Adjustments to Reconcile Operating j income (Loss) to Net Cash Provided by j (Used for) Operating Activities
- Depreciation. 12,583.400 439.100 2,575,200 1,417,100 l Amortization.. 215.100 - 81,000 20,700 i Provision for Uncollectible Accounts.. - - - 94,800 j Change in Assets and Liabilities
j (Increase) Decrease in Accounts Receivable. (851,400) (179,900) (176.400) (293,900) 1 (Increase) Decrease in Other Accounts Receivable. (7,300) - 23,800 (5,900) ! (Increase) Decrease in Due from Other Funds . - - - - i (Increase) Decrease in inventory.. 166,800 7,800 - - [ Increase (Decrease)in Accounts Payable.. 3,242,900 (136,300) (60.300) 14,300 - ! Decrease in Arbitrage Rebate Payable.. - - -
- Increase in Customer Contracts Payable.. 21,200 - - -
, increase (Decrease)in Utility Deposits Payable.. 396.000 200 -
(39.500) I 3,200 increase in Deferred Revenue.. - - - ! Decrease in Customer Advances.. (115.100) (2,000) - - l Increase (Decrease)in Accrued Leave . , 93,900 12.600 33.000 (1.400) J Decrease in Prepaid Fees Credit., - - - - Total Adjustmonts,. . . . . . . . . . 15.748,700 141.500 2.476.300 1,206.200 Not Cash Provided by (Used for) Operating Activities.. . , . . . . . . . : $ 67.999.800 $ 2.276,300 $ 4.195.600_ $ 6.914.300_ l Noncash Capital Financing Activities: l 1 i On October 7.1992, the Electnc Fund issued $75,700,000 in bonds to refund debt issued in 1985. The $75,700,000 bonds proceeds, along with $3.297,800 of Debt Service Reserve Funds, were deposited into an irrevocable trust for defeasance of $93.315,500 of outstanding bonds pnncipal and $335,300 of bond interest. J l 1 ; } l 1 l 1 l i 1 ) j D-12
l l CITY OF TALLAHASSEE, FLORIDA l l l l Totals Tallahassee Solid Golf September September Airport Transit Waste Course 30,1993 30.1992 1,449.000 (300.500) 561,000 82,600 (24,298,100) (30,942,100) 2.665.000 1,061.700 389.500 441.500 132,537.100 163.479.200
$ 4.114.000 $ 761.200 $ 950.500 5 524,100 $ 108.239.000 $ 132.537,100 1,534.600 761,200 399.000 122,100 24.611,300 21,463.800 2.579.400 - 551,500 402.000 83.627.700 111.073.300 5 4.114.000 $ 761.200 $ 950.500 $ 524.100 _
$ 138.239 000 $ 132.537,100
$ ( 17.400) $ ( 6 053.900) $ 510 900 $ (605.000) $ 55.647,000 $ 45.353.100 1,705.000 571,700 52,500 71,500 19.415.500 16.031,300 22.800 - -- - 339,600 206,800 7,800 - 130,800 - 233.400 1,240,900 (121,400) 29,800 (119,700) - (1,712,900) (3,454.300) 10.600 1,000,200 19,300 -
(200J - 19.100 26,100
- (61,900) -
(700) 112.000 (264,100) 2,500 33,000 71,000 38,500 3.205,600 4,002,500
- - - -- - (69,100)
- - - - 21,200 136.400
-- -- - - 356,700 711,500 3.200 46.400
- -- -- - (117,100) (6.200)
(8 000) (15 000) (44.700) 7.800 78,200 48,200 (204 600) - - - (204.600) (69.500) 1.423 400 557.600 89.700 117,100 21,760.500 19.587.100 l
$ 1 406 000 $ ( 5 496 300) $ 600 600 $ (497.900) $ 77.408 400 $ 64.940.200 l l
l D-13 j_ _- _
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND BALANCE SHEET September 30 1993 1992 ASSETS Current Assets: Cash and Cash Equivatents . $ 18.333.600 $ 15.279 600 Accounts Recewable Customers . 13.467.100 13.159 600 Other.. 370.100 214,700
- Less Allowance for Doubtful Accounts . (1,857.200) (2.254 200) 4 Due frorn Other Funds . -
1.200 inventory-Fossil Fuel . 4.045.000 4.237.000 i Nuclear Fuel . 6.760.300 6.367,000 Accumulated Amortization of Nuclear Fuel . (3.885.500) (3 527.400) Total Current Assets.. ... 37.223.400 33 477.500 l Restricted Assets: Cash and Cash Equivalents-Revenue Bonds Reserve , 1.064.000 11 7 8,500 Revenue Bonds Construction . 5.734.900 9.547,200 Revenue Bonds R R & I . 24,158.600 39.953.700 i Operating Reserve . 20,728.200 16.644 200 Othe r. . 5.694.800 2.369.100 57.380.500 80.822.700 investments Revenue Bonds Reserve . 10.617.500 -- Revenue Bonds Construction . 21.086.500 - Other 3.248.000 3.066.100 34.952.000 3.066.100 i Accounts Receivable i Revenue Bonds R R & I 824.200 538.400 824.200 538 400 Notes Receivable Other 6 678 400 6.206.200 6.678.400 6,206 200 Total Restricted Assets.. . 99 835.100 90.633 400 Other Assets: Unamort:2ed Bond issue Cost . 445,100 382.900 I Total Other Assets.. . 445100 382.900 Fixed Assets: Fixed Assets - Cost 364,621.100 345.512.000 Less Accumulated Depreciation . (150 290.300) (138.358,800) Construction in Progress . 47.861.200 37.757.400 Total Fixed Assets.. 262.192.000 244 910.600
; Total Assets.. $ 399.695 600 $ 369.404.400 The accompanying notes are an integral part of these financial statements D-14
l l l CITY OF TALLAHASSEE, FLORIDA l ELECTRIC FUND BALANCE SHEET l (Continued) l September 30 1993 1992 LIABILITIES AND FUND EQUITY Current Liabilities: Accounts Payable . $ 13,344.700 $ 10.101.500 Accrued Leave.. 1,097,900 1.023.800 Arbitrage Rebate Payab!e 93.700 - Customer Contract Payable . 856.100 817,000 Utihty Deposits Payable 6.819.700 6.423.700 Total Current Liabilities., 22.212.100 18.366.000 Payable from Restricted Assets: Retainage and Accounts Payable 4.438.200 1,634,400 Deferred Revenue.. 400.800 397.600 Total Payable from Restricted Assets._ 4 839.000 2.032.000 Other Liabilities: Customer Contracts Payable . 12.600 30.500 Customer Advances . - 115.100 , Accrued Leave . 1.496.600 1,477.100 I Bonds Payable . 118,872.300 96.159.500 l Less Bond Discount . (1.704.600) (1.377.700) Total Other Liabilities.. 119.003.800 96.077,600 Total Liabilities.. 146,054.900 116.475.600 i l Fund Equity: Contnbuted Capital . 2.126.000 2.126.000 Retained Earnings. l Reserved for j Revenue Bonds . 11.681,500 11.859.500 Revenue Bonds Construction . 5.515.100 9.913.500 Revenue Bonds RR & I 24,083.800 39.744.800 Operating Reserve . 20.728 200 16 785.200 Revenue Bonds 90 Construction. 19.622.300 (5.909,500) Other Reserves . 13.365.200 16.208.900 Total Reserved.. 94.996,100 88.601,400 Unreserved 156.518.600 162.201.400 Total Fund Equity 253.640.700 252.928.800 Total Liabilities and Fund Equity.. $ 399.695 600 $ 369.404.400 The a: companying notes are an integral part of these financial statements D-15
l CITY OF TALLAHASSEE, FLORIDA l ELECTRIC FUND l STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1993 1992 Operating Revenue: Charges fe r Services Residentill Sa'es . $ 68.269,300 $ 63.661,500 Commercal and industnal Sales . 84,349.200 77,861,800 Public Street and Highway Lighting . 1,229.600 1,030.300 Sales for Resale . 4.200.800 6.819.400 Sales to Other Funds . 5,106.100 4.690,700 Surcharge _ 1,161.700 1,068.400 Late Fees . 397.300 372.600 Init:ating Service . 589.800 470,400 Renta!s.. 255,500 240,500 Cut-ins and Cut. fees 642.100 432.800 Other 1.837 600 536.000 Total Operating Revenues.. 168.039.000 157.244.400 Operating Expenses: Personal Services.. 13.252,800 12.853.600 Fossil Fuel . 38.701,300 40.948.400 Power Purchased . 33 455.800 30.423.400 Materials and Supplies . 1,168.300 974.300 Contractual Services . 11.508.700 10,742.300 Otner Expenses . 4.977,700 6.817,600 Less Applied Equipment Charges (75.200) (60.700) Depreciation . 12.583.400 10.053.500 l Arnorttzation . 215.100 80.300 i Total Operating Expenses.. 115.787.900 112.832.700 Operating Income., , 52.251.100 44.411,700 Nonoperating Revenues (Expenses): Interest Revenue ~ 6.028.300 7,698.600 Gain on Safe of Surplus Property . 20.800 22.600 Other Revenue - 165.900 3.222.700 Interest Expense (2,172.900) (3.558.500) Other Expenses . (3.123 600) (55.800) Total Nonoperating Revenues (Expenses).. 918 500 7.329.600 1 Net Income Defore Operating Transfers and Extraordinary item.. , 53.169.600 51,741,300 l 1 Operating Transfers In (Out): 1 Operat,ng Transfers in 881.200 - l Operating Transfers (Out) . (40.554.600) (39 840.500) Net income Before Extraordinary item.. 13 496.200 11.900.800 Extraordinary item. Loss on Refunding of Bonds.. (12.784.300) - Net income.-. 711.900 11,900.800 l l l Retained Earnings - October 1 - As Restated . 250 802.800 238.902.000 Retained Earnings September 30. $ 251.514.700 $ 250.802.800 l The accompanying notes are an integral part of these financial statements l D-16 I t l l l l
. _ . _ _ . _ _ . _ _ _ _ . _ _ _ _ . _ __ . _ . _ _ = _ - . _ . _
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND STATEMENT OF CASH FLOWS 1 Fiscal Year Ended September 30 i) Increase (Decrease)ln Cash and Cash Equivalents: 1993 1992 Cash Flows from Operating Activities:
']
Cash Received from Customers.. $ 163,839.800 $ 152,762.500 Cash Received from Other Funds.. 5.106.100 4,690,700 Cash Payments to Suppliers for Goods and Services . (80.567,100) (79.979.600) Cash Payments to Employees for Services . (13,242.200) (12,788.000) Payments to Other Funds . (7.136.800) (6.581.700) Net Cash Provided by Operating Activities-- 67.999.800 58.105.900 Cash Flows from Noncapital Financing Activities: Operating Transfers in from Other Funds.. 881.200 - Operating Transfers Out to Other Funds . (40.554,600) (39.840.500) Other... (2.957.700) 3.166,900 Net Cash Used for Noncapital Financing Activities - (42.631.100) (36.673.600) Cash Flows from Capital and Related Financing Activities: Proceeds from Safe of Bonds- 44,181,500 - Proceeds from the Safe of Property.. 20.800 22.600 Receipts from Energy Loan Program.. 4.502,300 4.914.500 Acquisition and Construction of Capital Assets . (22,849.000) (25.608,200) Funding Energy Loan Program . (5.260.300) (5,707,400) Pnncipal and Refund:ng Payments ~ (34,203.400) (326.400) Interest Paid _ (7.966.900) (4.077.300) Net Cash Used for Capital and Related Financing Activities.. . . (21.575.000) (30.782.200) Cash Flows from Investing Activities: Proceeds from Safe and Maturities of Investment Secunties.. 36.225.600 11,857,100 ! Receipts of Interest on investments.. 7.704.000 7,698.600 Purchase of Investment Secunties.. (68.111.500) (14.885.200)_ Net Cash Provided by (Used for)Investmg Activities-- (24.181.900) 4.670.500 Net Decrease in Cash and Cash Equivalents . (20.388.200) (4.679,400)
)
Cash and Cash Equivalents at Beginning of Year.. 96.102.300 100.781.700 75.714,100
)
Cash and Cash Equivalents at End of Year $ $ 96.102,300 i l Classified As- i Unrestricted Assets . $ 18.333.600 5 15,273,600 l Restricted Assets . 57.380.500 80.822.700 l 5 75.714.100 $ 96.102.300 l Reconciliation of Operating income to Net Cash Provided by Operating Activities: Operating income . $ 52.251,100 $ 44.411.700 Adjustments to Reconcile Operating income to Not Cash Provided by Operating Activities: Depreciation . 12.583.400 10.053.500 Amortization . 215.100 80.300 Provision for Uncollectible Accounts . - 839,100 Change in Assets and Liabilities: Increase in Accounts Receivable.. (851,400) (2,848.400) l (Increase) Decrease in Other Accounts Receivable . (7.300) 1,000.200 l (Increase) Decrease in inventory.. 166.800 (128.000) Increase in Accounts Payable . 3 242,900 3,714.500 Increase in Customer Contracts Payable. 21,200 136.400 increase in Utihty Deposits Payable . 396.000 724,100 Increase in Deferred Revenue . 3.200 46,400 Decrease in Customer Advances.. (115.100) (200) Increase in Accrued Leave.. 93.900 76.300 Total Adjustments 15.748.700 13.694.200 Net Cash Provided by Operating Activities.. $ 67.999.800 $ 58.105.900 The accompanying notes are an integral part of these financial statements 0 17 _ . _ _ . , _ _ _ . - , , ~ , _ _ _ _ . - _ _ _ _ _ _ _ _ _ _ _ . . _ _ . _ _ _ . _ . _ . _ _ _ . . . . . - -
i l CITY OF TALLAHASSEE, FLORIDA ' ELECTRIC FUND SCHEDULE OF OPERATING EXPENSE I Fiscal Year Ended September 30 1993 1992 Administrative and General: j Personal Services . $ 1,869,000 $ 1,852,800 Contractual Services 6,982,200 6.640.200 Materials and Supplies . 69.800 86.600 Other.. 4.788.200 6.630.200 13.709.200 15.209.800
- Distribution
Personal Services . 4,249,200 4.240,900 Contractual Services 1,616,400 1,608,300 Matena!s and Supplies . 274,100 310,900 Othe r.. 12.800 16.400 6,152.500 6.176.500 Transmission: i Personal Services . 139.800 119.300 Contractual Services . 398.900 278.500 Matenals and Supphes . 15,800 2,000 Other.. 72,200 40,600 626.700 440.400 Engineering: Personal Services . 1.336,300 1.085,500 Contractual Services . 171,800 94,800 Materials and Supphes . 25,100 21.000 Other 50.000 48.400 1,583.200 1,249,700 Generation: Personal Services . 5,658.500 5,555,100 Fossil Fuel . 38,701,300 40,948,400 Contractual Senaces , 2.339,400 2,120,500 Power Purchased . 33.455.800 30,423.400 Matena!s and Supphes . 783,500 553,800 Other. 54.500 82,000 80,993.000 79,683.200 Less- Apphed Equipment Charges . (75,200) (60,700) Depreciation . 12.583,400 10,053,500 Amortization.. 215.100 80 300 12.723.300 10.073.100 Total Operating Expense.
$_115.787.900 $ 112,832.700 The accompanying notes are an integral part of these financial statements D-18
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND REGULATORY SCHEDULE OF OPERATING EXPENSE 4 Fiscal Year Ended September 30 1993 1992 Fossil Fuel.. $ 38,701,300 $ 40,948.400 Nuclear.. 1,545.800 1,459,300 Purchase of Power.. 33.455,800 30,423,400 Production-Operating . 4.449.800 4,454.000 Maintenance.. 1.400,100 1.570,000 Transmission: Operating . 501,000 375,900 Maintenance . 506.400 189.100 Distnbution: Operating . 3.591.400 3,730,000 Maintenance . 989,600 1,236,100 Admintstrative . 5,777,800 4.973,100 Automotive Equipment Expense.. 775.100 766,900 Less: Applied Equipment Charges . (75.200) (60.700) Depreciation.. 12,583,400 10,053,500 Amortization.. 215,100 80,300 Customer Accounts Expense . 6,793.300 6,982,900 Other.. 4.577,200 5,650.500 Total Operating Expense. $ 115.787,900 $ 112.832,700 The above schedule is presented in accordance with the Uniform Chart of Accounts as promulgated I by the Federal Energy Regulatory Commission. l l l l l l l l l l l l l l The accompanying notes are an integral part of these financial statements D-19 i l
CITY OF TALLAHASSEE, FLORIDA GAS FUND I BALANCE SHEET September 30 1993 1992 ASSETS 4 Current Assets: Cash and Casn Equivalents . $ 898,800 $ 1,061,900 Accounts Receivable-Customers.. 695,200 623,100 Less: Allowance for Doubtful Accounts.. (97,200) (136,000) Inventory: Fossil Fue! . 74.100 81,900
- Total Current Assets.. . 1,570,900 1 630.900 i
Restricted Assets: Cash and Cash Equivalents Revenue Bonds Reserve . - 3.500 Revenue Bonds Construction.. 315.600 258.200 Revenue Bonds Renewal and Replacement.. 413,500 623,700 Other.. 225.700 55,900 954.800 941.300 investments-Sunshine State Construction . 319,200 347,900 Revenue Bonds . 303.100 318.200 622.300 666.100 Total Restricted Assets.. . 1.577.100 1,607,400 Other Assets: Unamortized Bond Issue Costs-. 22.300 23.900 Total Other Assets.. . 22.300 23,900 Fixed Assets: Fixed Assets Cost . 24,440.000 16,027,200 Less Accumulated Depreciation . (5,404,300) (5,014,700) Construction in Progress . 1.922.200 6,125.900 Total Fixed Assets.. . 20.957,900 17.138.400 Total Assets.. $ 24.128.200 $ 20.400.600 l l l The accompanying notes are an integral part of these financial statements. D-20
CITY OF TALLAHASSEE, FLORIDA GAS FUND BALANCE SHEET (Continued) September 30 1993 1992 LIABILITIES AND FUND EQUITY Current Liabilities: Accounts Payable , $ 769.800 $ 906,100 Accrued Leave . 112.400 106.500 Customer Advances . - 2.000 Utikty Deposits Payable - 77.700 77.500 Total Current Liabilities.. .. 959.900 1.092.100 Payable from Restricted Assets: Reta:nage and Accounts Payable . 105.600 11.200 Customer Advances . 5.600 80.700 Total Payable from Restricted Assets.. .. . . 111.200 91.900 Other Liabilities: , Accrued Leave . 121.400 114.700 l Advances from Other Funds . 3.250.000 - Loans from Other Funds . 1,618.700 1,720.600 1 Bonds Payable . 3,071,800 3.139,000 Less Bond Discount . (59.400) (63.800) Total Other Liabilities.. . 8.002.500 4.910.500 Total Liabilities.. . , 9.073.600 6.094.500 Fund Equity: Retained Eamings Reserved fcr Revenue Bonds Reserve . 302.600 321.700 l Revenue Bonds Renewal and Replacement. 322.500 533.100 l l Sunshine State Construction . 319.200 336,100 Revenue Bonds Constructort 295.400 268.700 Other.. 226.200 55.900 Total Reserved.. . 1,465.900 1.515,500 Unreserved 13.588.700 12.790.600 Total Fund Equity.. . . . 15 054.600 14.306.100 Total Llabilities and Fund Equity.. . $ 24 128.200 $ 20.400.600 l i l l The accompanying notes are an integral part of these financial statements D-21 l
CITY OF TALLAHASSEE, FLORIDA GAS FUNO STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1993 1992 Operating Revenue: Charges for Services-Residential Sates . $ 3,700.600 $ 3,005,700 Commercial and Industnal Safes.. 7,229,200 6.362.300 Sales for Resale.. 855.500 - Sales to Other Funds.. 113.500 97.200 Tapping Fees.. 200 5.000 Late Fees.. 43.700 40.300 initiating Service.. 57.800 51,900 Cut ins and Cut fees., 63.400 11.300 Surcharge.. 5,800 5.200 Other.. . 5.100 300 Total Operating Revenues = .. 12.074.800 9.579.200 Operating Expenses: Personal Services . , 1,317.500 1,169.200 Gas Purchased . 6,059.900 4.519.300 Matenals and Supplies . 101.200 99.300 Contractual Services.. 1,167,300 1,057.000 Other Expenses . 1.110,600 1,049.600 Less: Applied Equipment Charges . (255.600) (321.500) Depreciation.. 439.100 272.500 Total Operating Expenses.. 9.940.000 7.845.400 , Operating income ; . . . . 2.134.800 1,733.800 Nonoperating Revenues (Expenses): Interest Revenue . 83,500 267,900 Gain on Sale of Surplus Property.. 3.900 - Other Revenue . 624,900 285.400 Interest Expense.. (600) - Other Expenses.. (3.600) (92.100) Total Nonoperating Revenues (Expenses)... .. .... 708.100 461.200 income Before Operating Transfers... . . ... .. ....... 2.842.900 2.195.000 Operating Transfers (Out): Operating Transfers (Out) . (2.094.400) (1.062.900) , Not income.. ........ 748.500 232,1Y l Retarned Earnings October 1. 14.306.100 14,074.000 Retained Earnings September 30.. $ 15.054.600 $ 14.306.100 l i l l i The accompanying notes are an integral part of these financial statements D-22 l
P l l . l CITY OF TALLAHASSEE, FLORIDA GAS FUND ST/.TEMNT OF CASH FLOWS [ Fiscal Year Ended September 30 ., 1903 1902 , increase (Decrease)in Cash and Ctsh Equivalents: Cash Flows from Operating Activities: Cash Received from Customers.. . $ 11,818,100 $ 9.294,900 Cash Received from Other Funds . 113,500 97,200 Cash Payments to Suppliers for Goods and Services.. (7,363,500) (4,926,800) Cash Payments to Employees for Services.. (1.304,900) (1,205,400) Payments to Other Funds . (986.900) (935.300) Net Cash Provided by Operating Activitiesz 2.276.300 2.324.600 Cash Flows from Noncapital Financing Activities: Other.. 621,300 193.300 Operating Transfers Out to Other Funds.. (2.094.400) (1,962.900) Net Cash Used for Noncapital Financing Activities.. .. . . (1.473.100) (1.769.600) Cash Flows from Capital and Related Financing Activities: Advances From Other Funds . 3.250,000 - Acquisition and Construction of Capital Assets _. (3.989.800) (4,850,500) Pnncipal and Refunoing Payments- (62,800) M l,900) Payment on Loan from Other Funds.. (101,900) - Interest Paid.. (255.600) (192.300) Net Cash Used for CapM and Related Fin;ncing Activitles .. (1.160,100) (5.106.700) Cash Flows from investing Activities: ! Proceeds from Sale and Matunties of Investment Facunties.. 350.900 878,300 Receipts of Interest on Investments.. 163.500 388,100 l l i Purchase of Invesdnent Secunties- (307.100) (316.000) f.'et Cash Provided by investing Activities.. 207.300 950.400 [ Net Decrease in Cash and Cash Equivalents.. (149,600) (3,601,300) i Cash and Cash Equivalents at Beginning of Year . 2.003.200 5.604.500 Cash and Cash Equivalents at End of Year.. . $ 1.053.600 $ 2.003.200 Classified As: Unrestricted Assets.. 898.800 1.061,900 i Restricted Assets . 954.800 941,300 l $ 1.853.600 $ 2.003.200 I Reconcillation of Operating income to Net Cash j Provided by Operating Activities: Operating income.. $ 2.134.800 $ 1.733.800 Adjustments to Reconclie Operating income to Net Cash Provided By Operating Activities: Depreciation . 439.100 272,500 Provision for Uncollectible Accounts . - 76.700 Changes in Assets and Liabilities: Increase in Accounts Receivable.. (179.900) (100,500) Decrease in Inventory.. 7,800 - Increase (Decrease)in Accounts Payable (136.300) 455,800 Decrease in Customer Advances.. (2,000) (6.000) ! Increase (Decrease)in Utility Deposits Payable.. 200 (1,000) l Increase (Decrease)in Accrued Leave.. 12.600 (106.700) l Total Adjustments - , , . 141.500 590.800 l Net Cash Provided by Operating Activities... $ 2.276.300 $ 2.324.600 l The accompanying notes are an integral part of these financial statements D-23
CITY OF TALLAHASSEE, FLORIDA GAS FUND SCHEDULE OF OPERATING EXPENSE l l Fiscal Year Ended September 30 j
% +i 1992 1 Administrative and General: l Personal Services . $ 503,400 $ 416,100 l Contractual Services- 737,600 635.000 Materials arid Supphes . 16,900 19,400 Other Expenses . 1,092.900 1,033.600 2.350.800 2,104.100 Peak Shaving:
Personal Services . 900 700 Contractual Services . 1,400 2,000 Materials and Supphes . 300 900 2,600 3.600 Transmission and Distribution: Personal Services.. 813.200 752,400 Gas Purchased.. 6.059.900 4,519.300 Contractual Sennces . 428,300 420,000 Materials and Supphes . 84,000 79,000 Other Expenses . 17.700 16.000 7,403.100 5,786.700 Less: Applied Equipment Charges . (255,600) (321,500) Depreciation . 439,100 272.500 Total Operating Expense.. . , S 9.940.000 $ 7,845,400 GAS FUND REGULATORY SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1993 1992 Purchase of Gas . $ 6,059.900 $ 4,519.300 Distribution- ; Operating.. 618,000 521,000 i Maintenance . 123.600 174,800 Administrative.-- 838,800 792,000 I Automotive Equipment Expense . 363,500 369,500 i Less: Apphed Equipment Charges.. (255.600) (321,500) Depreciation.. 439,100 272,500 l Customar Accounts Expense.. 778,900 619,700 l Other.. 973.800 898,100 Total Operating Expense,. .. ., $ 9.940.000 $ 7.845.400 The above schedule is presented in accordance with the Uniform Chart of Accounts as promulgated by the Federa! Energy Regulatory Commission. The accompanying notes are an integral part of these financial statements. D-24
i CITY OF TALLAHASSEE, FLORIDA SEWER FUND l BALANCE SHEET September 30 ! 1993 1992 ASSETS Current Assets: Cash and Cash Equivalents . $ 1.559,500 $ 1,171,000 Accounts Receivable Customers . 1,509,600 1.475.700 Other . 43.300 19,500 Less: Allowance for Doubtful Accounts.. (72.400) (167.300) Total Current Assets. 3.040.000 2.498.900 1 i Restricted Assets: Cash and Cash Equivalents. Revenue Bonds Reserve.. - 46,100 Revenue Bonds Construction.. - 6,766,000 Revenue Bonds Renewal and Replaceme it.. 5.700.900 6.417.600 Sewer System Charges.. 3,047,500 3,598.300 j Other. - 749.800 570.500 9.498.200 17,390.500 i investments: Sunshine State Construction . 926,500 1,967.400 Revenue Bonds . 3.721.600 3.904.600 4 648.100 5.872.000 Receivables Sewer System Charges . 257,800 171,000 Other.. 330,500 265.000 588.300 _ 436.000 Total Restricted Assets . 14,7;4.600 23,706.500 Other Assets: Unamortized Bond issue Cost . 296.300 322.100 Total Other Assets. 298.300 322.100 ~ Fixed Assets: 1 Ftxed Assets Cost 110,423.500 102,575,900
)
( Less: Accumulated Depreciation.. (28.794.300) (26.308,200) Construction in Progress . 41.531.500 36.439.900 i Total Fixed Assets., 123.160.700 112.707,600
- Total Assets. $ 141.233.600 $ 139.235.100 i
o 1 l The accompanying notes are an integral part of these financial statements l D-25
i CITY OF TALLAHASSEE, FLORIDA SEWER FUND BALANCE SHEET (Continued) l l September 30 I 1993 1992 l LtADILITIES AND FUND EQUITY Current Liabilities: Accounts Payabe . $ 178.300 $ 238.600 Customer C*ntracts Payable . 900.000 729.600 J Accruti Leave . 412.700 396.000 Total Current Liabilities.- 1.491.000 1.364.200 Payable from Restricted Assets: Retainage and Accounts Payable . 728.400 3.864.200 Total Payable from Restricted Assets 728.400 3.864.200 Other Liabilities: Loan from Other Funds . 5.829.800 6.435.600 Advance from Other Funds-. 1,350.200 500.000 Customer Contracts Payable . 1,798,700 1.742.200 Customer Advances . - 16.300 Accrued Leave . 384.400 368.100 Bonds Payable . 37.636.500 38,498.800 Less Bond Discount (735.300) (792.400) Total Other Liabilities.- 46.264,300 46.768.600 Total Liabilities.; 48.483.700 51.997,000 Fund Equity: Contributed Capita!.. 18.521.200 19.202.300 Retained Earnings Resarved for. Revenue Bonds . 3,716.000 3,950.700 Revenue Bonds Construction.. - 3.146,000 Other.. 483,300 835,500 Revenue Bonds Renewal and Replacement . 5.569.400 6.213.500 Sewer Sy stem Charges . 3.305.300 3.769.300 Sunshine State Construction.. 932.200 1.927.300 Total Reserved.- 14.006,200 19,842,300 Unreserved . 60.222.500 48.193 500 Total Fund Equity.. 92.749.900 87.238,100 Total Liabilities and Fund Equity-- . $ 141.233.600 $ 139.235.100 The accompanying notes are an integral part of these financial statements. D-26
] CITY OF TALLAHASSEE, FLORIDA j SEWER FUND i j STATEMENT OF REVENUES, EXPENSES AND 1 CHANGES IN RETAINED EARNINGS I !I i 1 Fiscal Year Ended September 30
'l l
! 1993 1992 l Operating Revenue: Charges for Services: Residential Sales . $ 9,967,400 $ 9,140,900 1 i Commercial and Industnal Sa!es . 9.301,200 8,414.100 j Sales to Other Funds.. 156.600 139.200 4 Surcharge . 330,900 297,300 ) Tapping Fees _.. 194.400 137,600 ; j Other.. 405.100 422.300 1
} Total Operating Revenues. 20.355.600 18.551,400 1 i Operating Expenses:
j Personal Services.. 5,948,400 5,638,100 Matenals and Supplies.. 1,253.200 730,000 l Contractual Services . 5.602.400 5,399,500 l1 Other Expenses.. 3,195,100 2.884.500 i i Less: Applied Equipment Charges . (19.000) (95.700) l Depreciation.. 2,575,200 2,261,600 l l ) Amortization.. 81.000 82.800 l j Total Operating Expenses. 18.636.300 16,900,800 l Operating income 1,719.300 1.650.600 i ! Nonoperating Revenues (Expenses): l Interest Revenue.. 686,500 1,062,900 $ Gain on Sale of Surplus Property.. - 4,600 l Other Revenue . 4,176,200 3.052,100 interest Expense.. (10,600) (5.200) Other Expenses . (227.100) (247.200) Total Nonoperating Revenues (Expenses) - 4.625.000 3.867.200 Income Before Operating Transfers 6.344,300 5.517,800 Operating Transfers in (Out): ? Operating Transfers in.. 50.800 -
- Operating Transfers (Out) . (883.300) (750.100)
Net income 5.511.800 4,757,700 {
- Disposition of Netincome
j Depreciation on Contnbuted Assets.. 681,100 681.200 Net increase in Retained Eamings., . 6,192,900 5.448.900 ! Retained Earnings - October 1.. 68.035.800 62.586.900 l
! Retained Earnings . September 30 $ 74.228.700 $ 68.035.800 i
1 j i k j The accompanying notes are an integral part of these financial statements. ll D-27 4 3 1 - .. , . , . . , . - . . - - , - - - - . . , - - - - - - - - . - , . - - . - . . - - - . . . ~
_- - _. - - - _ -.- . . - _ - - . . . - - - . - . - . - . - -_ - . ~ . . . - l
- CITY OF TALLAHASSEE, FLORIDA '
SEWER FUND STATEMENT OF CASH FLOWS i
; Fiscal Year Ended September 30 j 1993 1992 4
increase (Decrease)in Cash and Cash Equivalents: Cash Flows from Operating Activities: i Cash Received from Customers.. $ 20,141,300 $ 18,268.800 l Cash Received from Other Funds.. 156,600 139.200 Cash Payments to Suppliers for Goods and Services . (6,789.000) (5.626,500) Cash Payments to Employees for Services . (5.915,400) (5.616.100) Payments to Other Funds.. (3.397.900) (3.290.600) Net Cash Provided by Operating Activities. . . . . . . . 4.195.600 3.874.800 Cash Flows from Noncapital Financing Activities: Operating Transfers in from Other Funds . 50.800 - Other.. 3.949,100 2.804.900 Operating Transfers Out to Other Funds.. (883.300) (750.100) Net Cash Provided by Noncapital Financing Activities 3.116.600 2.054.800 Cash Flows from Capital and Related Financing Activities: Proceeds from the Sale of Property.. - 4.600 i Advance from Other funds.. 850,200 - j Acquisition and Construction of Capital Assets.. (13,742,300) (29.314.400) i Pnncipal and Refunding Payments.. (862.300) (868.200) Repayment of Loans from Other Funds.. (605.800) (1,616,900) Interest Paid . (2,698.200) (1.312.100) Net Cash Used for Capital and Related Financing Activites . (17.058.400) (33.107,000) Cash Flows from investing Activities: Proceeds from Sale and Matuntes of investment Secunties.. 2,323,900 6,541,500 Receipts of interest on investments.. 1,010,500 2,369.800 l Purchase of Investment Secunties.. (1,100.000) (3.445.000) 4 Net Cash Provided by Investing Activities.- 2.234.400 5.466.300 Net Decrease in Cash and Cash Equivalents.. (7,511,800) (21,711,100)
- Cash and Cash Equivafents at Beginning of Year.. 18.569.500 40.280.600 Cash and Cash Equivalents at End of Year.. . ... $ 11.057.700 $ 18.569.500 Classified As
Unrestricted Assets . 1,559.500 1,171.000 Restncted Assets . 9.498.200 17,398.500 i _$ _ 11.057,700 $ 18.569.500 Reconelliation of Operating income to Net Cash Provided by Operating Activities: ! Operating Income . $ 1.719.300 $ 1.650.600 Adjustments to Reconcile Operating income to Net Cash Provided by Operating Activities:
- Depreciation., 2.575.200 2.261.600 j
! Amortizatiort 81,000 82.800 Provision for Uncollectible Accounts.. - 105.000 Change in Assets and Liabilities: i increase in Accounts Recervable.. (176,400) (279,700) I Decrease in Other Accounts Receivabie . 23.800 - j increase (Decrease)in Accounts Payable . (60,300) 32.500 1 Increase in Accrued Leave- 33.000 22.000 Total Adjustments-- 2.476.300 2.224.200 Net Cash Provided by Operating Activities.. $ 4.195.600 $ 3.874,800 The accompanying notes are an integral part of these financial statements D-28
- . - _ _ _ . . _ _ _ . - - _ _ - - _. . . . _ = . -
i 1 l CITY OF TALLAHASSEE, FLORIDA
)
SEWER FUND l SCHEDULE OF OPERATING EXPENSE ! i I Fiscal Year Ended September 30 1993 1992 l l Adminis trative and General: Personal Services . $ 948.200 $ 963.100 .
. Contractual Services.. 1,582,400 1,812,500 Matenals and Suppbes . 16,300 16.500 l
Other.. 3.158.100 2,853.600 l 5.705.000 5.645.700 l 1 1 Treatment Plants. Personal Services . 2.319.000 2.191.300 l Contractual Services . 2.574.800 2,273,500 t Matenats and Suppbes . 641,600 240,400 l Other . 15.300 13.900 5.550.700 4,719.100 ;
, l l
Water Quality Lab: i Personal Services . 639.400 561.900 Contractual Services . 39,400 29,200
, Matenals and Supphes . 86.100 68,800 4
Other . 9.700 12.700 774.600 672.600 Sewer Collection: Personal Services.. 1.507,600 1,446,500 Contractual Services . 761,100 686.800 Materia!s and Suppkes . 411,000 266.400 Other.. 10.600 2.700 2.690.300 2.402.400 i
- TV Inspection
Personal Services . 182,700 162,100 Contractual Services . 69,000 58.300 Matena!s and Supphes . 14.300 17,000 ! Other. . 800 1.000 , 266 800 238.400 l Pumping Stations: j Personal Services . 351,500 313.200 Contractual Services. 575,700 539.200 l Matena!s and Supphes . 83,900 120,900 Other.. 600 600 1.011.700 973.900 i Less- Apphed Equipment Charges. (19.000) (95.700) Depreciation . 2,575.200 2.261.600 Amortization . 81,000 82.800 Total Operating Expense , $ 18.636.300 $ 16.900.800 The accompanying notes are an integral part of these financial statements D-29
y CITY OF TALLAHASSEE, FLORIDA SEWER FUND REGULATORY SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1993 1992 Production: Operating . $ 3.964.800 $ 3 999.400 Maintenance.. 889.900 580,400 Transmission: Operating . 301.400 302,500 Maintenance . 135.300 162.400 Distribution: Operating . 3.109,000 2,851,600 Maintenance . 140.400 144.500 Administrat:ve.. 2.867,900 2.769,200 Automobve Equipment Expense . 1.306.600 1.145.200 Less: Applied Equipment Charges . (19,000) (95.700) Depreciation.. 2.575.200 2.261,600 Amorttzation . 81.000 82.800 Customer Accounts Expense _ 2.301.600 2 259.200 Other.. 982.200 437,700 Total Operating Expense.: $ 18.636.300 $ 16.900.800 The above schedule is presented in accordance with the Uniform System of Accounts for Class A and B Water Utilities promulgated by the National Association of Regulatory Utility Commissioners l I i The accompanying notes are an integral part of these financial statements D-30
i CITY OF TALLAHASSEE, FLORIDA WATER FUND BALANCE SHEET September 30 1993 1992 a ASSETS , Current Assets: Cash and Cash Equivalents-. $ 1,002,500 $ 1,144,300 Accounts Receivable Customers . 1,319,300 1,121,300 Other.. 11,400 5.500 Less. Allowance for Doubtful Accounts . (79.900) (81.000) Total Current Assets ; 2.253.300 2.190.100 Restricted Assets: Cash and Cash Equiva!ents-Revenue Bond Construction . 793.500 1,324.400 Revenue Bond Renewal and Replacement . 6.063.300 2, % 8,500 Water System Charge.. 4,747,600 4.873,600 Other.. 656 900 993.600 12.261,300 10.160.100 investments-Sunshine State Construction.. 1,032.400 2.399,400 Revenue Bonds . 839,300 882.700 i 1.871,700 3.282.100 Receivables-Water System Charges . 87,100 63.00C 87,100 63.00C Total Restricted Assets.. .. , 14.220.100 13.505.200 Other Assets: Unamortized Bond Issue Cost . 78.300 85 100 Total Other Assets.. . 78.300 85.100 l Flxed Assets: Fixed Assets - Cost . 58.224.400 53,049.400 Less Accumulated Depreciation.. (15,775,100) (14,389,100) Construction in Progress . 7,891.200 7,295,500 Total Fixed Assets.. . . , , 50.340.500 45.955.800 Total Assets.. . $ 66.892.200 $ 61,736.200 The accompanying notes are an integral part of these financial statements D 31
CITY OF TALLAHASSEE, FLORIDA WATER FUND BALANCE SHEET I (Continued) September 30 j 1993 1992 i LIABILITIES AND FUND EQUITY Current Liabilities: Accounts Payable . $ 137,600 $ 123.300 l Customer Contracts Payable . 650,000 624,000 i Utility Deposits Payable . 366.300 405,800 I Accrued Leave . 157,300 151,400 Total Current Liabilities,- . 1,311.200 1.304.500 Payable from Restricted Assets: Retainage and Accounts Payable . 518.400 818.300 Total Payable from Restricted Assets.. 513.400 818.300 Other Liabilities: Loan from Other Funds 5,736,800 6,237,300 Customer Contracts Payable- 1,194,900 1.255,000 Customer Advances.. - 16,800 Accrued Leave 168.000 175,300 Bonds Payable . 8,451,700 8.662,200 Less Bond Discount. (168.400) (182.300) Total Other Liabilities.. . .. . .. 15.383.000 16.164.300 Total Liabilities.. . .. 17.212,000 18.287,100 Fund Equity: Retained Earnings Reserved for. Revenue Bonds . 839.300 882,700 Revenue Bonds Construction . 791,500 1,064.700 Revenue Bonds Renewal and Replacement 5,924,900 2,936.500 Water Line Systems Charge . 4.702,500 4.936,600 Sunshine State Construction . 776,300 1,872,800 Other 667,200 993.600 Total Reserved., 13.701,700 12.686,900 Unreserved . 35.977,900 30.762,200 Total Fund Equity.. . .. . 49.679.600 43,449,100 i Total Liabilities and Fund Equity,. . . $ 66.892,200 $ 61,736.200 I l The accompanying notes are an integral part of these financial statements D 32
CITY OF TALLAHASSEE, FLORIDA i
*l WATER FUND STATEMENT OF REVENUES, EXPENSES, AND i CHANGES IN RETAINED EARNINGS ,,
Fiscal Year Ended September 30 1993 1992 ) Operating Revenue:
]
Charges for SeWices Residential Sales . $ 8,346,300 $ 7,442,300 1 Commercial and Industnal Sales . 5.208,400 4,640.200 Sales to Other Fun ds.. 449,400 327,600 Surcharge . 976.700 840,200 Tapping Fees . 686,100 443,600 Late Fees . 65,500 60,500 initiating Service. 481,000 369,700 Rentals . 52,500 52.500 Cut ins and Cut-fees . 367,100 247,100 Other. 3,700 3.900 Total Operating Revenues., 16.636.700 14.427.600 Operating Expenses:
]
Personal Services . 2,852,900 2.636,500 Materials and Supplies.. 479,200 413,500 4 Contractual Services . 4,654,900 4,415,900 ) Other Expenses . 1,504,800 2.251,900 I Less Applied Equipment Charges . (1,000) (172,000) l Depreciation . 1,417,100 1,095,700 Amortization.. 20,700 21.200 Total Operating Expenses,. . 10 928.600 10.662.700 Operating income.. . . . . .. . 5,708.100 3.764,900 Nonoperating Revenues (Expenses): Interest Revenue . 677,800 676,600 Gain on Sate of Surplus Property - 1.200 Other Revenue.. 2,656,200 1.872,400 Interest Expense . (50,700) (4,700) Other Expenses . (92.100) (85.300) Total Nonoperating Revenues (Expenses).. . . . 3,19),200 2,460.200 Income Before Operating Transfers.. 8,899.300 6,225.100 Operating Transfers (Out): Operating Transfers (Out) . (2,668.800) (2.413.900) Net income.. . , , 6,230.500 3,811,200 Retained Earnings October 1 43.449.100 39.637,900 Retained Earnings September 30.. . S 49.679 600 $ 43.449.100 1 1 s The accompanying notes are an integral part of these financial statements D-33
CITY OF TALLAHASSEE, FLORIDA WATER FUND STATEMENT OF CASH FLOWS Fiscal Year Ended September 30 1993 1992 l Increase (Decrease)in Cash and Cash Equlvalents: j Cash Flows from Operating Activities: , Cash Received from Customers.. $ 15,983.400 $ 14,092,700 I Cash Received from Other Funds.. 449,400 327,600 l Cash Payments to Suppliers for Goods and Services . (3,976,400) (3,716,300) , Cash Payments to Employees for Services . (2.854,300) (2.610,200) Payments to Other Funds . (2.687,800) (3.231,600) Net Cash Provided by Operating Activitiesz 6.914.300 4.862.200 Cash Flows from Noncapital Financing Activities: Other.. 2,564,100 1,787,100 Operating Transfers Out to Other Funds.. (2.668.800) (2.413.900) Net Cash Used for Noncapital Financing Activities-- (104.700) (626.800) Cash Flows from Capital and Related Financing Activities: Acquisition and Construction of Capital Assets.. (5,632.200) (5.612.700) Repayment of Loans from other funds.. (500.500) (761,400) Pnncipal and Refunding Payments.. (268,700) (223,900) Interest Paid . (737.000) (361.100) Net Cash Used for Capital and Related Financing Activities . (7.138.400) (6.959.100) Cash Flow from investing Activities: Proceeds from the Sale and Matunties of investment Secunties . 2.084,900 3.360,100 Receipt of interest income on investment,. 877,800 1,033,000 Purchase of Investment Secunties.. (674.500) (1.755.000) Net Cash Provided by Investing Activities.. . 2,288,200 2,638,100 Net increase (Decrease)in Cash and Cash Equivalents . 1,959.400 (85,600) Cash and Cash Equivalents at Beginning of Year.. 11,304 400 11,390.000 Cash and Cash Equivalents at End of Year.. .. . . ...... $ 13,263.800 $ 11,304.400 Classified As: Unrestncted Assets . $ 1,002,500 $ 1,144,300 Restricted Assets . 12.261.300 10.160,100
$ 13.263,800 $ 11.304.400 Reconciliation of Operating income to Net Cash Provided By Operating Activities:
Operating income . $ 5,708,100 $ 3,764,900 Adjustment to Reconcile Operating income to Net Cash Provided By Operating Activities: Depreciation.. 1,417,100 1,095,700 Amortization.. - 20,700 21,200 Provision for Unco!!ectible Accounts... 94,800 84,900 Changes in Assets and Liabilities: Increase in Accounts Receivable.. (293,900) (110,400) ; increase in Other Accounts Receivable.. (5.900) - Increase (Decrease)in Accounts Payable . 14,300 (8,800) Decrease in Utility Deposits Payable.. (39,500) (11,600) Increase (Decrease)in Accrued Leave.. (1.400) 26,300 Total Adjustments.. . . . . . = . . . . . . . . . . . . . . . . 1,206.200 1,097,300 Net Cash Provided by Operating Activities.. . . . $ 6.914,300 $ 4.862.200 The accompanying notes are an integral part of these financial statements D-34
i CITY OF TALLAHASSEE, FLORIDA WATER FUND SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 l 1993 1992 Administrative and General: Personal Services . $ 400,600 $ 315,400 Contractual Services . 2,106,400 2,032,000 Matena!s and Supphes 6,500 7,400 Other Expenses . 1.496.800 2.220.500 4.010.300 4.575,300 l l Supply: l Personal Services . 398,100 424,800 Contractual Services . 1,658,900 1,515,100 Materials and Supphes- 69,800 60,300 Other Expenses . 1,600 2.200 l ! 2,128.400 2.002.400 l Transmission and Distribution: Personal Services . 2.054,200 1,896,300 l Contractual Services . 889,600 868.800 Matenats and Supphes.. 402,900 345.800 Other Expenses . 6.400 29.200 3.353.100 3.140.100 Less- Apphed Equipment Charges (1,000) (172,000) Depreciation Expense. 1,417.100 1,095,700 Amortization Expense . 20.700 21.200 i Total operating Expense,. . .. . $ 10.928.600 $ 10.662.700 l l WATER FUND REGULATORY SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1993 1992 Production: Operating . $ 1.640.400 $ 1,512,800 Maintenance - 1,500 Distribution: J Operating . 1,454,200 1.565.400 Maintenance . 1,052,800 1,012,400 l 1,407,400 I Administrative . 1,337,100 Automotive Equipment Expense - 870,200 854,400 Less Appbed Equipment Charges (1,000) (172,000) l Depreciation.. 1,417,100 1,095.700 Amortization . 20,700 21,200 Customer Accounts Expense . 2,255.800 2.287,700 Other.. 805.000 1,146.500 Total Operating Expense., $ 10.928.600 $ 10,662.700 The above schedule is presented in accordance with the Uniform System of Accounts for Class A and B Water Utikties as promulgated by the National Association of Regulatory Utikty Commissioners The accompanying notes are an integral part of these financial statements D-35 l
CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND BALANCE SHEET September 30 1993 1992 ASSETS Current Assets: Cash ar.d Cash Equivalents . $ 1,534,600 $ 1,317,700 Accounts Recervable Customers . 484,200 413,600 Less: Allowance for Doubtful Accounts . (16.600) (59,600) Due from Other Funds . 6.400 25.600 Total Current Assets. 2 008.600 1.697,300 Restricted Assets; Cash and Cash Equivalents Passenger Facility Charge.. 575.400 - Renewal and Replacement . 1,397,300 1,267,000 Revenue Bonds Debt Service.. 25.600 25.200 Other.. 58 t,100 55.100 2.579.400 1.347,300 Investments Revenue Bonds Reserve 1.169.600 1.31 f.100 1.169.600 1.315.100 Due from Other Governments-Construction . 1,412,300 60,400 Renewal and Replacement . 10,300 220.100 Other - 178.200 1.239.900 1,600.800 1.520.400 Total Restricted Assets,. . . . 5.349.800 4.182.800 Other Assets: Unamortized Bond issue Cost.. 333.600 351,100 Total Other Assets.- . . 333.600 351.100 Fixed Assets: Fixed Assets Cost. 57,735,600 56.668.800 I Less Accumulated Depreciation.. (13,518.800) (11,674,800) Construction in Progress . 10.318.900 4.853.000 Total Fixed Assets.. 54.535.700 49,847.000 Total Assets $ 62.227.700 $ 56.078.200 l l l l l l The accompanying notes are an integral part of these financial statements l D-36 . l l
. CITY OF TALLAHASSEE, FLORIDA AIRPORT FUNO BALANCE SHEET l (Continued) .; September 30 1993 1992 LIABILITIES AND FUND EQUITY Current Liabilities: Accounts Payable . $ 182.300 $ 202.500 : Accrued Leave . 111.300 106.800 Prepaid Fees Credit Payable.. 514.800 719.400 Oue to Other Funds . 59.200 52.400 Total Current Liabilities.- 867.600 1.081.100 Payable From Restricted Assets: Retainage and Accounts Payable . 540.700 565.100 Total Payable from Restricted Assets.... ....: 540.700 565.100 , I Other Liabilities: Accrued Leave . 198,9G0 195,400 j Bonds Payable . 11.885 000 12.125.000 , Less Bond Discount. (190.900) (196,100) : Advances from Other Funds . 4.800.100 1.514.600 ; Total Other Liabilities.- 16.693.100 13.638.900 Total Liabilities.. 18.101.400 15.285.100 l I Fund Equity: Contnbuted Capital 34,407.800 31.680.500 Retained Earnings i Reserved for: l Revenue Bonds Debt Service . 25,600 25.200 Revenue Bonds Reserve . 1,169.600 1.351,100 l q Revenue Bond Renewal and Replacement . 1,397.300 1.451.400
- Other Reserves . 2.216.600 790.000 Total Reserved... 4.809.100 3.617,700
, Unreserved . 4.909 400 5.494.900 Total Fund Equity.. . . 44,126.300 40.793.100 Total Liabilities and Fund Equity - ~$ 62 227.700 $ 56.078.200 l i The accompanying notes are an integral part of these financial statements 4 0-37
l CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS i For Fiscal Year Ended September 30 1993 1992 i Operating Revenue: Charges for Services Landing and Tie Down Fees-. $ 116.900 $ 314.500 Rentals . 5.547,400 4.955.400 Othe r.. 77.000 36.300 Total Operating Revenues - 5.741.300 5 306.200 Operating Expenses: Personal Services . 1.750,200 1,626,600 Matenats and Supplies . 407,500 330.300 Contractual Services 1.772,100 1,826.600 Other Expenses . 101,100 96.900 Depreciation . 1,705.000 1,765,700 , Amorttz ation . 22.800 22.500 l Total Operating Expenses.-- 5.758.700 5.668.600 Operating Loss.: (17.400) (362.400) Nonoperating Revenues (Expenses): Interest Revenue . 216,000 381,300 Other Revenue . 30.100 129,000 hterest Expense . (624.700) (1,066.300) Otner Expense (67.500) (67.500) Total Nonoperating Revenues (Expenses)- , (445.200) (623.500) Loss Before Operating Transfers.. ,, (462.600) (985.900) Operating Transfers Out: Operating Transfers Out . (64.400) (69.700) Net Loss. , (527,000) (1,055,600) Disposition of Net Loss:
- Depreciation on Contnbuted Assets . 1,132.900 1.270.400 Net increase in Retained Earnings.. ,, , 605.900 214.800 Retained Earnings . October 1.. 9.112.600 8.897.800 Retained Earnings September 30.- $ 9.718.500 $ 9.112.600 I
I The accompanying notes are an integral part of these financial statements D-38
- _ - . = - - ..
l CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND STATEMENT OF CASH FLOWS l Fiscal Year Ended Septernber 30 1993 1992 l i Increase (Decrease)in Cash and Cash Equivalents: Cash Flows from Operating Activities: Cash Received from Customers.. $ 5.685.400 $ 5.433.700 Cash Payments to Suppliers for Goods and Services . (2.136.700) (2.074.600) Cash Payments to Employees for Services . (1.742.200) (1.649.100) Payments to Other Funds. (400.500) (440.200) Net Cash Provided by Operating Activities.. 1.406.000 1.269.800 Cash Flows trom Noncapital Financing Activities: Other~ (37.400) 61.500 Operating Transfers Out to Other Funds . (64 400) (69.700) Net Cash Used for Noncapital Financing Activities-. (101.800) (8.200) Cash Flows from Capital and Related Financing Activities: l Capital Grants Received . 3.779 800 2.788.000 Advances from Other Funds . 3,285.500 - Acquisition and Construction of Capital Assets . (6.068.200) (4 220.000) Repayment of Advance from Other Funds . - (145.800) Interest Paid (974.700) (1,066,300) Pnncipal and Refunding Payments . (240.000) (225.000) Net Cash Used for Capital and Related Financing l Activities.. (217.600) (2.869.100) i Cash Flows from Investing Activities: Proceeds from the sa!e of investments 148.600 - Rece: pts of interest on Investments . 216.900 381.300 l 1 , Purchase of Investment Secunties . (3.100) (57.300) 1 Net Cash Provided by investing Activities.. . 362.400 324 000 , i Net increase (Decrease)in Cash and Cash Equivaients 1.449,000 (1.283.500) Cash and Cash Equivalents at Beginning of Year . 2.665.000 3.948 500 Cash and Cash Equivalents at End of Year., . $ 4.114.000 $ 2.665 000 Classified As: Unrestncted Assets . $ 1 534.600 $ 1.317.700 Restnctsd Assets 2.579 400 1.347.300
$ 4.114 000 $ 2.665.000 Reconciliation of Operating Loss to Net Cash Provided by Operating Activities:
Operating Loss $ ( 17.400) $ ( 362.400) Adjustments to Reconcile Operating Loss to Net Cash ; Provided by Operating Activities: 1 Depreciation.. 1.705.000 1,765.700 Amortization 22.800 22.500 ! Provis*on for Uncollect,ble Accounts 7,800 27.200 Change in Assets and Liabilities: (Increase) Decrease in Accounts Receivable . (121,400) 145.300 Decrease in Due from Other Funds . 19.300 26.100 Decrease in inventory - 16.900 i Increase (Decrease)in Accounts Paf able 2,500 (210.400) Decrease in Accrued Leave . (8.000) (22.500) Decrease in Arbitrage Rebate Payable . - (69.100) Decrease in Prepa.d Fees Cred.t (204 603 (69.500) Total Adjustments.. . . . . 1.423.400 1.632.200 Net Cash Provided by Operating Activities.. . $ 1 406 000 $ 1.269.800 The accompanying notes are an integral part of these financial statements D 34 I
l CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1993 1992 j Administrative and General: Personal Services . $ 335.000 $ 252.600 i Contractual Services . 772.700 821.500 Matenals and Supphes . 59.600 11.700 Other Excenses . 93.800 95.400 1.261.100 1.181.200 Public Safety . Fire: Personal Services . 340,500 359,400 Contractual Services 134.000 10,900 Matena's and Supphes . 4.700 400 Other Expenses . 7.300 1.500 486.500 372.200 Airport Patrol: Personal Services. 361.200 337.900 Contractual Services . 22.800 13.200 Matenats and Supplies . 6.300 4.000 390.300 355.100 Building Maintenance: Personal Services.. 361.200 343.300 Contractual Services . 715.300 631.700 Matenals and Supplies 165.500 131.500 1.242,000 1.106.500 Base Maintenance: Personal Services . 352.300 333.400 Contractual Services . 127,300 349.300 Matenals and Supphes . 171.400 182.700 651.000 865.400 Other: Depreciation 1,705.000 1,765.700 Amortization . 22 800 22.500 1.727.800 1.788 200 Total Operating Expense.. . . . . . . . . ....... $ 5 758.700 $ $ G68.600 The accompanying notes are an integral part of these f.nancial statements D-40
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUND BALANCE SHEET U l September 30 1993 1992 l ASSETS I l Current Assets: Cash and Cash Equiva'ents . $ 761.200 $ 1.061.700 Accounts Recersable l Customers . 145.100 175,700 Other.. 665,000 141,100 Less Allowance for Doubtful Accounts.. (4,300) (4,700) Inventory Fossil Fuel.. 21.300 18,000 Other.. 499.000 440 400
- Total current Assets. ..... .. .. .. . . . . 2.087,300 1.832.200 Fixed Assets:
Fixed Assets. Cost. 15.527.700 12.943.800 Less' Accumulated Deprecration . (5,686 800) (5,237.800) l Construction in Progress . 3.418.600 3,788.600 Total Fixed Assets.. . . . . . . 13.259.500 11.494.600 Total Assets . .. . . . . . $ 15.346.800 $ 13.326.800 i
! LIABILITIES AND FUND EQUITY Current Llabilities:
Accounts Payable . $ 178.200 $ 144.200 Accrued Leave 199.900 205.600 Due to Other Funds . 4.500 2.900 Total Current Llabilities.. 382.600 352.700 ] . . . . . . . . . . . . . . . . . . . . . . . l I Other Llabilities: Accrued Leave . 97.500 106 800 Total Other Llabilities.. . . . , . . . . . . . . . . . . . . . . . 97.500 106.800 Total Liabilities.. . .. . . . . .. .. . . . . . . 480.100 459.500 2 Fund Equity: Contnuuted Capital . 13.994.900 12.589.700 Retained Earnings Reserved for Projects 871,800 186.300 UnreseNed . - 91.300 i Total Fund Equity.. . . . . . . . . . . . . . . .. 14.866.700 12.867.300 l Total Liabilities and Fund Equity.. .. . . .
$ 15.346.800_ $ 13 326 800 l
l l 4 l l 1 4 j l l l D.41
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUND l STATEMENT OF REVENUES, EXPENSES AND l CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 j 1993 1992 Operating Revenue: Transportation Fees . $ 1.759.000 $ 1.665.800 Total Operating Revenues.. . l.759 000, 1.665.800 l I Operating Expenses: Personal Services . 4.116.800 3 943.800 Matenals and Suppt es.. 1,035.300 1.129.700 l Contractual Services . 1.570.500 1.536.600 Other Expenses . 518.600 117,400 Depreciation.. 571.700 481.900 Total Operating Expenses.. . . . . . . 7.8129 1 7.209.400 ' Operating Loss.. . . . . . . . . (6.053.900) (5.543.600) Nonoperating Revenues (Expenses): Grant Revenue. - 1,598.000 1.339.200 Other Revenue.. 9.600 77,800 Other Expenses . (179.100) (295.100) Total Nonoperating Revenues (Expenses).. . . . . . . . . . . 1.428.500 1.121.900 Loss Defore Operating Transfers... . . . . . . . . . . . . . (4.625,400) (4,421,700) Operating Transfers in (Out): Operating Transfers in . 4.824.700 4,573.300 l Operating Transfers (Out) (29.800) - Net income.. . . . . .. . . . . . . . , . . . . . 169.500 151,600 Disposition of Netincome: Increase in Contnbuted Capital . (12.700) (405.800) Depreciation on Contributed Assets 437.400 411.500 Net increase in Retained Earnings.. .. . . . . 534,2F 157.300 Retained Earnings October 1 - 277.600 120.300 ! Retained Earnings . September 30.... .. . .. $ 871,800 $ 277.600 1 l l l l l l 1 D-42
CITY OF TALLAHASSEE, FLORIDA TALLAKASSEE TRANSIT FUND l STATEMENT OF CASH FLOWS Fiscal Year Ended September 30 1993 1992 l Increase (Decrease)in Cash and Cash Equivalents: Cash Flows from Operating Activities: Cash Received from Customers $ 1.789.200 $ 1,607.700 Cash Payments to Suppliers for Goods and Services . (2,467,400) (1,821,200) Cash Payments to Employees for Services.. (4,136.300) (3,901,400) Payments to Other Funds . (681.800) (1.165.400) Net Cash Used for Operating Activities... . .. . . . ...... . . . . . (5.496.300) (5.280.300) Cash Flows from Noncapital Financing Activities: Operating Grants Received . 1.029.300 1,466.800 Operating Transfers in from Other Funds - 4,812.000 4.167,500 Operating Transfers Out to Other Funds . (29,800) - Other. . (167.600) (219.300) Net Cash Provided by Noncapital Financing Activities,. . . . . 5.643.900 5 415.000 Cash Flows from Capital and Related Financing Activities: Capitaf Grants Received . 1,874.800 818.900 Capital Contnbutions . 12.700 405,000 Acquisit:en and Construction of Capita! Assets . (2.335.600) (1.153.200) Net Cash Provided by (Used for) Capital and Related Financing Activities.. . . . (448.100) 71.500 Net increaso (Decrease) in Cash and Cash Equivalents (300,500) 206,200 Cash and Cash Equiva!ents at Beginning of Year . 1.061,700 855,500 Cash and Cash Equivalents at End of Year.. .. . . . . . _$ 761.200, $ 1.061.700 Classified As: Unrestncted Assets $ 761.200 $ 1.061.700 Reconciliation of Operating Loss to Net Cash Used For Operating Activities: Operating Loss $ ( 6.053.900) $ ( 5 543,600) Adjustments to Reconcile Operating Loss to Net Cash Used For Operating Activities: i Depreciation . 571.700 481,900 i Change In Assets and Liabilities: ) (Increase) Decrease in Accounts Receivable . 29,800 (58,100) l I Increase in Inventory . (61,900) (161,500) I increase (Decrease)in Accounts Payable 33.000 (16,700) increase (Decrease)in Accrued leave . (15 000) 17,700 Total Adjustments.. . . . . . . . . . . . . . . . . . . . . . . 557,600 263.300 Net Cash Used For Operating Activities.. .. _$ ( 5 496.300) $ ( 5 280.3001 l 1 l D-43
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUND l SCHEDULE OF OPERATING EXPENSE ) l Fiscal Year Ended September 30 1993 1992 Administrative and General: Personal Services . $ 399.400 $ 400.500 Contractual Services . 532,400 794.700 l Matena!s and Supphes . 12,300 14,800 Other.. 511.700 114,600 1.455.800 1.324,600 l Operations: Personal Services . 2.973.400 2.814.800 Contractual Services . 1,017.700 728.900 Matenals and Supphes . 524.300 521,000 Other.. 400 100 4.515.800 4.064.800 Maintenance: Personal Services . 744.000 728.500 Contractual Services . 20.400 13.000 Matenals and Supphes . 498.700 593,900 Other.. 6,500 2.700 1.269.600 1.338,100 Depreciation - 571.700 481.900 Total Operating Expense.. . . . . . .. $ 7.812,900 $ 7.209.400 l 1 l l l l l D-44
)
1 CITY OF TALLAHASSEE, FLORIDA , J SOLID WASTE FUND l BALANCE SHEET
)
September 30 1993 1992 ASSETS Current Assets: Cash and Cash Equivalents . $ 399,000 $ 355.400 ) Accounts Receivable , Customers . 956.000 887.300 l Due from Other Funds . 200 - Other.. 59,300 79.500 Less Allowance for Doubtful Accounts . (80.000) (20.400) Total Current Assets.. . . .. . . .. .. 1.334.500 1.301.800 Restricted Assets: Cash and Cash Equiva!ents i Renewal. Replacement and improvement Fund . 85.500 34.100 Operating Reserve . 466.000 - Total Restricted Assets-- . . . 551.500 34.100 Fixed Assets: l Fixed Assets - Cost.. 2.303.600 2,35').900 Less Accumulated Depreciation . (1.690,100) (1.635.700) Construction in Progress . - 5.900 Total Fixed Assets.. . . . . . . . . . . . 613.500 730.100 Total Assets. . . . .. . . . . . . .. 5 2.499 500 $ 2.066 00g LIABILITIES AND FUND EQUITY Current Liabilities: ) Accounts Payab'e. $ 626.700 $ 556.300 l Accrued Leave . 209.800 220.500 Total Current Liabilities.. . . . . .. 836.500 776.800 Payable from Restricted Assets: Accounts Payable . 1100 500 Total Payable from Restricted Assets. .. . . . 1.100 500 Other Liabilities: Accrued Leave . 323.200 357.200 Total Other Llabilities.. .. .. . . . . . . .. ... . ... . 323.200 357.200 Total Liabilities.... . . . .. .. .. 1.160.800 1.134.500 Fund Equity: Contnbuted Capital . 788.300 788,300 Retained Earnings Reserved . 550.400 33.600 Unreserved . - 109.600 Tetat Fund Equity.. . . . . . . .. . . . . . . . 1.338.700 931.500 Total Llabilities and Fund Equity.... ... .. ... .. . $ 2.499 500 $ 2.066.000 D-45
CITY OF TALLAHASSEE, FLORIDA SOLID WASTE FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINOS Fiscal Year Ended September 30 1993 1992 Operating Revenue: Charges for Services Residential Collection . $ 6,844.800 $ 6,383.300 - Commercia! Collect.on . 6.190.200 5.360,800 Recyclables Sales . 141.000 219.600 , Other. . 124.100 115.800 Total Operating Revenues.. . 13.300.100 12.079 500 Operating Expenses: Personal Services . 3.100.600 3.047,200 Matenals and Supphes . 108,000 142.700 Contractual Services . 9.391.800 8.604.400 . Other Expenses.. 136.300 98.500 Depreciation.. 52.500 41.300 - Total Operating Expenses.. 12] d9.200 11.934.100 Operating income.. . 510,900 145.400 Nonoperating Revenues (Expense)- Other Revenues 7.300 227,100
~
Other Expenses (111.000) (3.300) Total Nonoperating Revenues (Expenses).. . (103.700) 223.800 - income Defore Operating Transfers.. . . . 407.200 369,200 Operating Transfers in (Out): Operating Transfers in . - 55,000 Operating Transfers (Out) . - (126.500) Net Income. .. . . . . . . 407,200 297,700 Retained Earnings (Deficit)- October 1.. 143.200 (154,500) Retained Earnings September 30.. . . .. . . . $ 550 400 $ 143 200 v, D-46
CITY OF TALLAHASSEE, FLORIDA SOLID WASTE FUND STATEMENT OF CASH FLOWS Fiscal Year Ended September 30 1993 1992 Increase (Decrease)in Cash and Cash Equivalents: Cash Flows from Operating Activities: Cash Received from Customers . $ 13.251,800 $ 11,997.100 Cash Payments to Suppliers for Goods and Services . (7,385,700) (6,581.400) c Cash Payments to Employees for Services . (3,146.000) (3.012.100) __ Payments to Other Funds . (2.119.500) (2.240.300) Net Cash Provided by Operating Activitiesz . . . 600.600 163.300 . Cash Flow from Noncapital Financing Activities: Operating Transfers in from Other Funds.. -- 55.000 Operating Transfers Out to Other Funds . - (126.500) Other,. (43.500) 220.600 Net Cash Provided by (Used for) Noncapital Financing Activities-- . . . (43.500) 149.100 c- - - _ Cash Flows from Capital and Related Financing Activities: Acquisition and Construction of Capital Assets . - (267.800) = Net Cash Provided By (Used for) Capital and Related Financing Activities.. -- (267.800) Cash Flows from Investing Activities: Receipts of interest on Investments . 3.900 3.200 Net Cash Flows Provided by Investing Activities.. .. 3.900 3.200 Net increase in Cash and Cash Equiva'ents . 561,000 47,800 Cash and Cash Equivalents at Beg'nning of Year . 389.500 341.700 Cash and Cash Equivalents at End of Year., . $ 950 500 $ 389 500 Classified As: Unrestncted Assets $ 399.000 $ 355.400 Restncted Assets . 551.500 34.100
$ 950.500 $ 389.500 Reconciliation of Operating Income to Net Cash Provided by Operating Activities:
Operating income . $ 510.900 $ 145.400 Adjustments to Reconcile Operating income to Net Cash Provided by Operating Activities: Depreciatten . 52,500 41,300 Provision for Uncollectible Accounts . 130.800 108,000 Change in Assets and Liabilities: Increase in Accounts Receivable . (119.700) (202.500) increase in Due from Other Funds . (200) - Increase in Accounts Payable . 71,000 30,900 Increase (Decrease)in Accrued Leave . (44.700) 40.200 Total Adjustments.. .. . . 89.700 17.900 Net Cash Provided by Operating Activities., . . . 5 600.600 $ 163.300 D-47 P
CITY OF TALLAHASSEE, FLORIDA SOLID WASTE FUND SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1993 1992 Administrative and General: Personal Services . $ 402,400 $ 637,800 Contractual Services . 1,390,400 3.836,800 Matenals and Supphes . 77,600 45,200
- Other.. 136,300 98.500 ,
2,006.700 4.618,300 Residential Collection: Personal Services . 1,526.100 1,333,800 Contractual Services . 4,510,200 1,562,600 Materials and Supphes . 25.900 55.300 6.062.200 2.951,700 Commercial Collection: Personal Services 1,172.100 1,075,600 Contractual Services , 3.491,200 3.205,000 Matenal and Supphes . 4.500 42.200 4.667,800 4.322.800 Depreciation . 52.500 41,300 Total Operating Expense.. , , , , , $ 12.789 200 $ 11.934 100 i D-48
CITY OF TALLAHASSEE, FLORIDA GOLF COURSE FUND DALANCE SHEET September 30 1993 1992 ASSETS Current Assets: Cash and Cash Equiva'ents . $ 122.100 $ 72.200 inventory.. 38.900 38.200 Total Current Assets..... , . . . . . . . . . . . . . 161.000 110.400 Restricted Assets: Cash and Cash Equivalents Renewal. Replacement and improvement . 402.000 369.300 Total Restricted Assets.. ... 402.000 369.300 Fixed Assets: Fixed Assets Cost. 1.855.100 1,802.800 Less Accumulated Depreciation.. (500.700) (425.300) Construction in Progress . 334 800 - Total Fixed Assets.. . 1.689.200 1.377.500 Total Assets.. . . .. $ 2.252.200 $ 1.857.200 LIABILITIES AND FUND EQUli( Current Liabilities: Accounts Payable . $ 67,600 $ 29.100 Accrued Leave . 38.700 33 600 Total Current Liabilities.. .. ...... 106.300 62.700 Other Liabilities: Accrued Leave . 31.900 29.200 Total Other Llabilities.. . . . . . . 31.900 29.200 Total Liabilities., . .. . . 138.200 91,900 Fund Equity: Contributed Capitat 1.492 000 1.492.000 Retained Earnings (Deficit) Reserved 402.000 369.300 Unreserved . 220.000 (96 0001 Total Fund Equity.. .. . . 2.114 000 1.765 300 Total Liabilities and Fund Equity.. .. . $ 2.252.200 $ 1.857.200 0-49
CITY OF TALLAHASSEE, FLORIDA GOLF COURSE FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1993 _ _ _ _ 1992 Operating Revenue: Charges for Services Greens Fees $ 479,900 $ 447.700 Golf Cart Fees 263.300 239.100 Pro Shop Sales . 73.300 81.400 Annual Golf Fees . 11.200 42.000 Onving Range Fees . 27.200 27.800 Concessions . 18.600 20.100 Other . 18.800 23 200 Total Operating Revenues.... .. 892.300 881.300 Operating Expenses: Personal Services . 674.700 627.200 Materials and Supplies . 301,400 181,100 Contractual Services . 211.900 257.800 Other Expenses . 237,800 203.400 Depreciation . 71.500 59.100 Total Operating Expenses.. . .. .. . 1.497.300 1.328.600 Operating Loss.. . .. . . . . (605.000) (447.300) Nonoperating Revenues: Other Revenue 30 900 13.600 Total Nonoperating Revenues... . . ... .. .. 30 900 13 600 . Loss Defore Operating Transfers.. .. . . . . (574.100) (433 700) - - Operating Transfers in: Operating Transfers in - 922.800 621.700 Ne t inc ome., .. . . . . . . . . . 348.700 188.000 Retained Earnings October 1. 273.300 85.300 Retained Earnings . September 30.. . . ... $ 622.000 $ 273,300 0 50
- ~ .. -- - .-
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- CITY OF TALLAHASSEE, FLORIDA e
! h l GOLF COURSE FUND p l STATEMENT OF CASH FLOWS ll } 'I
- b l b Fiscal Year Ended September 30 ,l
{ . 1993 1992 j { increase (Decrease)in Cash and Cash Equivalents: l 5 Cash Flows from Operating Activities: Cash Received from Customers.. $ 892,300 $ 881,300
- .]
i Cash Payments to Suppliers for Goods and Se.sices . (568,700) (507,900) Cash Payments to Employees for Services.. (662,300) (632.200) I dyn,0nts to Other Funds.. (149.200) (121.300) it Os. h Wed for Operating Activities.- . . . . (487,900) (380.100) ash Flow frorn Noncapital Financing Activities: Operatinp Transfers in from Other Funds.. 922,800 621,700 Other.. 2.400 (5.300) Net Cash Provided by Noncapital Financing Activities,. . 925.200 616.400 Cash Flows from Capital and Related Financing Activities: Acquisition and Construction of Capital Assets.. (383.200) (38.200) Net Oash Used For Capital and Related Financing Activities < (383,200) (38.200) Cash Flows from investing Activities: Receipt of interest on Ir; vestments.. 28,500 18.900 Net Cash Provided i'f I nvesting Activities . . 28.500 18.900 Net Increase in Cash and Cash Equivalents . 82,600 217,000 Cash and Cash Equivalents at Beginning of Year.. 441.500 224.500 Cash and Cash Equivalents at End of Year.; $ 524.100 $ 441.500 Classified As: 1 Unrestricted Assets . 122,100 72.200 Restricted Assets-. 402.000 369.300 Totals.. ,,, , .. $ 524.100 $ 441.500 I Reconciliation of Operating Losa to Net Cash Used for Operating Activities: ' Operating Loss $ ( 605.000) $ ( 447.300) Adjustments to Reconcile Operating Loss to Net Cash Used for Operating Activities: Depreciation.. 71,500 59,100 Change in Assets and Liabilities: (Increase) Decrease in Inventory.. (700) 8,500 j Increase in Accounts Payable.. 38,500 4,700 l Increase (Decrease)in Accrued Leave.. 7.800 f5.100) l Total Adjustments._ 117,100 67.200 i Net Cash Used for Operating Activities.. $ ( 487.900) $ ( 380.100) D-51
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i INTERNAL SERVICE FUNDS Reading, Billing and Collection Fund-to account for the costs of the City's reading, billing and collection services. Information Systems Services Fund-to account for the costs of the City's data processing operation. Accounting Fund-to account for the costs of the City's accounting opera-tion. J l Central Stores Fund-to account for the costs of the City's central stores l operation. Purchasing Fund-to account for the cc 's of the City's centralized pur-chasing operation. l Garage Fund-to account for the costs of maintaining and operating the City's fleet management operation. Human Resources Fund-to account for the costs of the City's employee relations operation. 1 Pension Administration Fund-to account for the costs of the City's pen- g sion plan administrative operation. ! Risk Management Fund-to account for the costs of the City's risk man-agement operation. Employee Healthcare Fund-to account for the cost of the City's self-insured healthcare operation. Communications Fund-to account for the costs of the City's radio and telecommunications operation. Internal Loan Fund-to account for loans received from trie Sunshine State Governmental Financing Commission which in turn are loaned to other funds to provide financing for capital projects. a e y-
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CITY OF TALLAHASSEE, FLORIDA i INTERNAL SERVICE FUNDS l COMLINING BALANCE SHEET l September 30,1993 (Continued) Reading Information l Billing and Systems Central i Collection Services Accounting Stores Purchasing Garage ASSETS i Current Assets: Cash and Cash Equivalents . $ 527,900 5 1,638,000 $ 382,700 $ 839,400 $ 113.400 $ 157.200 Accounts Receivable . - - 1,200 200 200 19.200 Due from Other Funds.. 57 400 -- - - - - Deposits . 6.500 - - - - - Inventory . 109.700 - 3.019.800 41,000 531.100 Total Current Assets- 591,800_ , _ 1.747.700 383.900 3.859,400 154.600 707,500 Restricted Assets: Cash and Cash Equivalents.. - 234.400 258,800 - - 26,672,100 Loans to Other Funds . - - - - - - Total Restricted Assets.. - 234.400 258,80_0 - - 26.672.100 Fixed Assets . 136,000 7,467,100 8 MO 325,500 96,000 29,423.600 Less- Accumulated Depreciation.. (87.900) (2,439.100) (38.600) (143.100) (43,600) (13,658.100) Total Fixed Assets.. . . - . . 48.100 5.028.000 48.500 182.400 52.400 15.765.500 Total Assets.. $ 639.900 $ 7.010.100 $ 691.200 $ 4.041.800 $ 207.000 $ 43.145.100_ . LIABILITIES AND FUND EQUITY Current Llabilities: Accounts Payable.. $ '78,500 $ 72.100 $ 88,300 $ 76,900 $ 20.300 $ 67,700 Accrued Leave 204.200 144,400 123.200 8.400 38,000 133,800 Lease Payable - Current.. - 31.500 - - - - Total Current Liabilities.. 282,700 248.000 211.500 85.300 58.300 201.500 Payable from Restricted Assets: Mcrued Interest Payable.. - - - - - - Claims Payable.. - -- - - - - Loans Payable . - - - - - - Total Payable from Restricted Assets.. - - - - - -- Other Liabilities: Loans from Other Funds . -- 1.759,300 - - - - Lease Payable . - 31.500 - - - - Accrued Leave . 203.300 232.800 123.200 8.600 29.800 162.500 I Total Liabilities.. . . 486.000 2.271 600 334.700 93.900 88.100 364.000 Fund Equity Contnbuted Capital - -- - - - 5.583.000 j Retained Earnings' l Reserved for- l Debt Service . - - - - - - Fleet Management . -- - - - - 26,672.100 l l Projects.. - 234,400 258.800 - - - l Insurance.. -- - - - - - j Unreserved (Deficit).. 153.900 4.504.100 97,700 3.947.900 118.900 10.526.000 ( Total Fund Equity.. 153.900 4.738 500 356.500 3.947.900 118.900 42.781.100 i Total Liabilities and Fund Equity.. $ 639A0 $ 7.010.100 l
$ 691.200 M041.800 $ 207.000 $ 43.145.100 l
l l l E-2 l
CITY OF TALLAHASSEE, FLORIDA Pension Risk Totals Human Admin. Manage- Employee Communi- Internal September September Resources istration ment Healthcare cations Loan 30,1993 30.1992 $ 304,600 $ 62,100 $ 28 200 $ - $ 107,000 $ ~ $ 4,160,500 $ 3.216.100 50.900 62.400
- - 134,100 136.500
- - - - - - 57,400 54.600 6.500 6.500 3.701.600 4.104.900 304.600 62.100 79.100 62.400 107.000 -
8.060.100 7.518.600 1.786.000 - 10,109.400 373,600 - 2,200.200 41,634,500 34.554,100 19.820.100 19.820.100 20.407.800 1,786.000 - 10.109.400 373.600 - 22.020.300 61.454.600 54.961,900 39,800 1,700 1,800 -- 400.800 - 37,979.400 37,687,900 (30.700) (1,700) (1.200) - (303.600) -- (16.747.600) (15,769,000) 9.100 - 600 - 97.200 - 21.231.800 21,918.900 $ 2.099.700 $ 62.100 $ 10.189.100 $ 436.000 $ 204.200 $ 22.020.300 $ 90.746.500 $ 84 399.400 $ 47,300 $ 34.000 $ 61.400 $ 12,200 $ 31,900 $ - $ 590.600 $ 1,109,600 82.300 11.600 10.600 - 33,400 - 789.900 787,900 31.500 180.900 129.600 45.600 72,000 12.200 65.300 - 1.417.000 2,078.400
- - - - - 54,200 54,200 49,900
- - 6.981,000 231,100 - - 7,212.100 5.651,400
- - - - - 21,699,700 21,699,700 21.699,700
- - 6,981,000 231,100 - 21,753.900 28,966.000 27,401.000
- - - - - - 1,759.300 2,120,000
- - - - - - 31,500 28,000 83.100 11.600 7.700 - 12 400 - 875,000 838.000 212 700 57.200 7.060.700 243.300 77.700 21,753 900 33.043.800 32.465.400
- - 893,500 -
129.800 - 6.606,300 6.606,300
- - - - - 266,400 266.400 485,700
- - - - - - 26.672,100 21,516,700 1.052.800 - - - - - 1,546,000 1,853,300 733.200 --
2.234.900 192,700 - - 3.160,800 2,737,700 101.000 4.900 - - (3.300) - 19.451,100 18.734.300 1.887.000 4 900 3.128.400 192.700 126.500 266.400 57.702.700 51.934.000 $ 2.099.700 $ 62.100 $ 10.189.100 $ 436.000 $ 204.200 $ 22.020.300 $ 90.746.500 $ 84.300.400 E-3
CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND l CHANGES IN RETAINED EARNINGS (DEFICIT) For the Fiscal Year Ended September 30,1993 (Continued) Reading Information Billing and Systems Central Collection Services Accounting Stores Purchasing Garage Optrating Revenues: ' Charges for Service . $ 7,253,000 $ 7,162,500 $ 3,210,000 $ 5,052,600 $ 1,184.300 $ 13.484,500 Other.. - - - 3.200 51.500 - Total Operating Revenue:.., 7.253.000 7.162,500 3,210.000 5.055.800 1.235.800 13.484.500 - Op2 rating Expenses: Personal Services.. 3.349,700 2,382,100 1,977,200 192,700 675,300 2,059,900 Contractual Services.. 3,485,000 2,694,800 1,154,400 4.590,200 401,200 3,778,000 ; Matenals and Supphes.. 449,400 176,100 11,500 7,200 61,900 98,700 Other.. 71,500 1,089,800 53.800 154,900 119,100 425.900 ) Depreciation.. 11.200 668.400 9.400 7,600 2,300 2,702.600 Total Operating Expenses : 7.366.800 7,011.200 3.206,300 1,259,800 9,065.100 Operating income (Loss)-- (113.800) 151,300 3,700 ~ 4.952,600 103.200 (24.000) 4,419.400 1 Non operating Revenues (Expense): Interest Revenue-, - 24,600 - - - 1,379,100 Interest Expense-. - (58.800) - - - - Total Non operating Revenues (Expense),, - (34.200) - - - 1,379.100 ) income (Loss) Before Operating Transfers. (113,800) 117.100 3,700 103,200 (24,000) 5,798,500 Operating Transfers in.. - - - - - - Operating Transfers (Out) . (114.400) (47,200) - - - (710.200) N1t income (Loss)-- (228,200) 69,900 3,700 103,200 (24.000) 5,088,300 Retained Earnings (Deficit)- October 1 - As Restated . 382.100 4.668.600 352.800 3,844.700 142.900 32.109.800 Retained Earnings (Deficit) . Ssptember 30, , , , , ,,, , $ 153 900 $ 4.738.500 $ 356.500 $ 3.947.900 $ 118 900 _$ 37,198.100 l 1 l l l E-4
CITY OF TALLAHASSEE, FLORIDA l Pension Risk Totals Human Admin- Manage. Employee Communi- Internal September September Resources istration ment Healthcare cations Loan 30.1993 30.1992
$ 2.801.000 $ 343.200 $ 4,191.600 $ 812.100 $ 247,200 $ - $ 45,742,000 $ 44.456,900 1.000 - - - - -
55.700 5.900 l 2.802.000 343.200 4.191.600 812.100 247.200 -- 45.797.700 44.462,800 l 1,167,300 158.900 138,700 - 234,800 - 12,336,600 12,415,300 l 1,073,300 143,100 75.500 129,300 99,800 - 17,624.600 14,779,000 49,800 3.400 1,800 - 45.700 - 905,500 1.106,900 l 36.100 5,200 4.315.800 656.300 1,300 - 6.929,700 5,896,200 l 2.300 100 200 - 18.400 - 3 422.500 3.472.000 ! 2.328 800 310.700 4.532.000 785 600 400,000 - 41.218.000 37.669.400 473.200 32.500 (340.400) 26.500 (152.800) - 4.578.800 6.793.400 89,300 - 536.200 19.000 - 879,000 2,927,200 2,459,400 (663.900) (722.700) (982.000) j 89.300 -- 536.200 19.000 - 215,100 2.204.500 1.477.400 567,500 32.500 195.800 45.500 (152,800) 215,100 6,783.300 8,270.800 l 100 - 100 199.600 (142.900) -- - - -- - (1.014.700) (649.800) 419,600 32.500 195.800 45.500 (152,700) 215,100 5,768,700 7.820,600 l J 1.467.400 (27.600) 2.039.100 147.200 149.400 51.300 45.327.700 37,507.100 1 _$1.887.000 $ 4.900 $ 2.234.900 $ 192.700 $ ( 3.300) $ 266.400 $ 51.096.40_0 $ 45.327.700 l l l l l l E-5 l
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CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1993 (Continued) Reading Information Billing and Systems Central
, Collection Services Accounting Stores Purchasing Garage Increase (Decrease)In Cash l and Cash Equivalents:
Cash Flows from Operating Activities: Cash Received from Customers . $ - $ - $ - $ 3.200 $ ~ $ - l Cash Received from Other Funds . 7,250,200 7,162,500 3.210,000 5,052,600 1,235,800 13.480,000
- Cash Payments to Suppliers for Goods and Services.. (4,012,600) (4,117,800) (1,194,200) (4,278,900) (576,100) (4,868,200)
Cash Payments to Employees for Services., (3.345.200) (2,321,600) (1.988.600) (198.200) (673,400) (2.055.500) Net Cash Provided by (Used for) Operating Activities... .. .. .. .. (107.600) 723,100 27,200 578.700 6.556,300 (13.703 Cash Flows from Noncapital Financing Activities: Operating Transfers in from Other Funds.. - - - - - - Operahng Transfers Out to Other Funds.. (114.400) (47,200) - - - (710.200) Net Cash Flows Provided by (Used for) Non-capital l Financing Activities - (114,400) (47.200) - - - (710,200) l Cash Flows'From Capital and ( Related Financing Activities: Acquisition and Construction of Capital Assets.. 14.600 (771,600) 31,400 - 200 (2,002,000) l Payments on Capital Lease . -- (145.900) - - - - Repayments of Loans from Other Funds.. - (360,700) - - - - Interest Paid . - (58 800) - - - - Net Cash Provided by (Used For) Capital and Related Financing Activities.. . . 14.600 (1,337,000) 31,400 - 200 (2.002,000) Cash Flows from Investing Activities: l Rece:pt of Interest on l Investments . - 24.600 - - - 1.379.100
~~
l Net Cash Provided by Investing Activities = - 24.600 - , - - 1.379.100 ) l Net increase (Decrease)in Cash and Cash Equivalents . (207,400) (636,500) 58.600 578.700 (13,500) 5,223,200 l Cash and Cash Equivalents at I Beginning of Year.. 735.300 2,508.900 582.900 260,700 126,900 21,606.100 Cash and Cash Equivalents at End of Year.- $ 527.900 $ 1.872.400 $ 641.500 $ 839.400 $ 113.400 $ 26.829.300 , E-6
CITY OF TALLAHASSEE, FLORIDA I Pension Risk Totals Human Admin- Manage- Employee Communt- Intemal September September Resources istration ment Healthcare cations Loan 30.1993 30.1992 l $ -- $ - $ - $ 344.600 $ - S - $ 347.800 $ 370,900 ! 2,802.300 343,200 4.187,400 478.300 247,200 587,700 46,037,200 44,392,000 l (1.135.300) (134,700) (2.841,400) (789,700) (66.000) 4.300 (24,010,600) (21,075,600) ! (1,154.600) (157,600) (135 400) - (267.500) - (12.297,600) (12.270,700) 512.400 50.900 1.210.600 33,200 (86.300) 592.000 10.076.800 11,416,600 100 - 100 199.600 (142.900) - -- - - - (1.014,700) (649,800) (142.900) - -- - 100 - (1.014.600) (450.200) l I 4,100 1,600 600 - (14,200) - (2,735,300) (5.852,100)
-- - - -- - - (145,900) (648,800)
(360.700) (280,000) (663.900) (722,700) (982.000) I 1 4.100 1.600 600 - (14,200) (663.900) (3,964.600) (7,762,900) l 89.300 - 536.200 19.000 - 879.000 2,927.200 3.515,100 89.300 - 536.200 19,000 - 879.000 2.927,200 3 515.100 462.900 52.500 1,747,400 52,200 (100.400) 807,100 8,024.800 6,718,600 1.627,700 9.600 8.390.200 321.400 207,400 1,393.100 37,770.200 31,051,600
$ 2.090.600 $ 62.100 $ 10.137.600 $ 373.600 $ 107.000 $ 2,200.200 $ 45,795.000 $ 37,770.200 E7
. = - - - . - . . - - . . - . _ - - - - -~ - =__. .-
CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS the Fiscal Year Ended September 30,1993 (Continued) Reading Information Billing and Systems Central Collection Services Accounting Stores Purchasing Garage Classified As: Unrestricted Assets.. $ 527,900 $ 1,638,000 $ 382,700 $ 839,400 $ 113.400 $ 157,200 Restncted Assets.. - 234.400 258.800 - - 26.672,100
$ 527,900 $ 1.872.400 $ 641,500 $ 839.400 $ 113,400 $ 26.829.300
=============
Reconcillation of Operating income (Loss) to Not Cash Provided by (Used for) Operating Activities: Operating income (Loss).. $ ( 113.800) $ 151.300 $ 3.700 $ 103.200 $ ( 24.000) $ 4.419.400 Adjustments to Reconcile Operating income (Loss) to Net Cash Provided by (Used for) Operating Activities: Depreciatiert 11,200 668.400 9,400 7,600 2,300 2,702,600 Change in Assets and Llabilities: (Increase) Decrease in Accounts Receivable.. - - - - - (4,500) Increase in Other Accounts Receivable.. (2,800) - - - - - (Increase) Decrease in inventory . - (109,700) - 463.00'O 6.900 (74,900) Increase (Decrease)in Accounts Payable.. (6,700) (47,400) 25,500 10,400 (800) (490,700) Increase (Decrease)in Accrued Leave. 4.500 60.500~ (11.400) (5.500) 1.000 4.400 Total Adjustmentsz 6.200 571.800 23,500 475.500 10.300 2,136,900 Net Cash Provided by (Used for) Operating Activities-- .. . $ ( 107.600) $ 723.100 $ 27.200 $ 578.700 $ ( 13.700) $ 6.556.300 E-8 i
CITY OF TALLAHASSEE, FLORIDA l i ! Pension Risk Totals l Human Admin. Manage. Employee Communi- Internal September September l Resources istration ment Healthcare cations Loan 30.1993 30.1992 , l i
$ 304.600 $ 62,100 $ 28 200 $ - $ 107.000 $ - $ 4,160.500 $ 3.216,100 l 1.786.000 -
10.109 400 373 600 - 2.200.200 41.634 500 34.554 100 I
$ 2.090.600 $ 62.100 $_10.137 600 $ 373.600 $ 107.000 $ 2.200.200 $ 45.795 000 $ 37,770.200 l l
i l
$ 473.200 $ 32.500 $ ( 340.400) $ 26.500 $ ( 152.800) $ .- S 4.578.800 $ 6,793.400 ,
1 l \ i 1 2,300 100 200 - 18,400 - 3,422,500 3.472,000 300 - (4,200) 10.800 - 587,700 590,100 307,200 I l
- - - - - - (2,800) (7,100) l
- - - - 117,900 - 403,200 176,100 23 900 17,000 t 551,700 (4,100) (37,100) 4.300 1,046,000 530,400 12.700 1.31 3.300 -
(32.700) - 39.000 14600 39,200 18,400 1.551.000 6.700 66.500 592.000 5.498.000 4.623.200
$ 512.400 $ 50 900 $ 1.210.600 $ 33 200 $ ( 86.300) $ 592.000 $ 10.076.800 $ 11.416,600 l
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TRUST AND AGENCY FUNDS Pension Trust Fund Defined Benefit and Contribution Plan - The City Employees' Pension Plan is used to account for the accumulation of resources to be used for retirement annuity payments to City employees. l l Expendable Trust Funds l l Special Capital Projects Fund -to provide a means of financing long-term capital projects while minimizing impact on the Operating Budget. This l fund was discontinued in fiscal year 1993 with a residual equity transfer. l Deficiencies and Emergencies Fund - to provide for unforeseen expenditures of an emergency nature. 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. Railroad Fund - to account for the financial activities of the Railroad Station, a joint venture created by the City and Leon County for the purpose of operating a railroad station in the City. Nonexpendable Trust Fund Cemetery Perpetual Care Fund - to accumulate resources for the ; perpetual maintenance of the City's cemeteries. i Agency Fund Deferred Compensation Fund - to account for assets held by the City as agent for City employees. l 1 l 1
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I i ! l CITY OF TALLAHASSEE, FLORIDA l TRUST AND AGENCY FUNDS i cot 08tNING BALANCE SHEET ! September 30,1993 I I Penson Nonexpendable Agency ] Trust Fund Expendable Trust Funds Trust Fund Fund j City Speoat Deficiencies Downtown Cernetery Totals ! Ernployees' Capital and improvement Perpetual Deferred September September Penson Projects Ernergences Authonty Radroad Care Compensation 30.1993 30.1992 ) ASSETS l Cash and Cash Equivalents _ $ t.476.700 $ - 5 10.314.600 5 156.900 5 - 5 4.853.000 5 - 5 16.801.200 5 34.155.000 , . Investments _. . . _ . . _ 293.638.000 - 2.322.000 - - - 7.861.100 303.821.100 264.333.800 i I Accounts ReceivaW. - 81.000 - 16.500 - - - - 97.500 97,200 Due from Other Govemments_.. . _ _._ - - 153.000 - 215.600 - - 368.600 -
- Advance to Other Funds . - -
8.034.700 - - - - 8.034.700 2.459.900 Fh:ed Assets.. . 754.800 - - 754.800 - I Constructen in Progress .. - - - - 359.000 - - 359.000 - 156.900 5 1.329.400 5 Total Assets- $ 295.195.700 5 - 5 20.840.800 5 4.853.000 5 7.861.100 5 330.236.900 5 301.045.900 t j LIABILITIES AND FUND BALANCES A Liabilities: Accounts Payable... . . . . 5 17.500 5 - 5 - 5 900 5 74.800 5 - 5 - 5 93.200 5 17.800 Due to Other Funds.,. ..._.. .. ...._ - - - - 184.200 - - 184200 - . Due to Other Govemments_ .. ..-.. - - - - 39.200 - - 39200 - Deferred Compensatot Payable.. - - - - - - 7.861.100 7.861.100 6.718.900 Total Liabilities 17.500 - - 900 298.200 - 7.861.100 8.177.700 6.736.700 Fund Balances: Reserved for-Employee Retirement Plans.... -.._ 295.178200 - - - - - - 295,178200 263.625.200 Advance to Other Funds.- _.. 8.034.700 - - - - 8.034.700 2.459.900 4 Fh:ed Assets. . ..-.... .. . - - - - 1.031 200 - - 1.031.200 - Total Reserved 295.178.200 - 8.034.700 - 1.031200 - - 304.244.100 266.085.100 Unreserved: ! Des 2gnated for-Annexation-. . . . -.. 953.600 - - - - 953.600 953.600 Total Designated - - 953.600 - - - - 953.600 953.600 Urdesignated. ... .. .. ..._ . - - 11.852.500 156.000 - 4.853.000 - 16.861.500 27.270.500 Total Fund Balances 295.178200 - 20.840.800 156.000 1.031.200 4.853.000 - 322.059200 294.309.200 i Total Liabilities and Fund l Balances 5 295.195.700 5 - 5 20.840.800 5 156 900 5 1.329.400 5 4.853.000 5 7.861.100 5 330 236.900 5 301.045.900 i
CITY OF TALLAHASSEE, FLORIDA PENSION TRUST AND NONEXPENDABLE TRUST FUNOS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES For the Fiscal Year Ended September 30,1993 Pension Nonexpendable Trust Fund Trust Fund City Cemetery Totals Employees' Perpetual September September Penssn Care 30,1993 30.1992 Operating Revenues: Investment income.. $ 15,461,600 $ 279.500 $ 15,741,100 $ 16,603,700 investment Gains Net.. 5,637,300 - 5,637,300 3,981,300 City Contnbution.. 12,275.300 - 12,275,300 12,234,700 Employee Contribution.. 6,783.600 - 6,788,600 6,688,800 State Contnbution.. kli,000 - 841,000 805,400 Other.. . 40.800 14.700 55.500 67,600 1 Total Operating Revenues... 41,0 4.600 294.200 41,338.800 40.379.500 Operating Expenses: Benefit Payments.. 7,295,300 - 7,295,300 6,831,800 l l Refunds., 1,187,800 - 1,187,800 956,600 l Insurance.. 30,500 - 30,500 13,500 Administrative.. 978.000 - 978.000 898.200 Total Operating Expenses - 9.491.600 , 9.491,600 8.700,100 Net income., .. .. 31,553,000 294,200 31,847,200 31,679,400 Fund Balances - October 1.. 263.625.200 4.558.800 268.184.000 216.504.600 l Fund Balances September 30 . $ 295.178.200 $ 4.853.000 $ 300.031.200 $ 268.184,000 I F-3 l 1
4 i j CITY OF TALLAHASSEE, FLORIDA PENSION TRuJr AND NONEXPENDABLE TRUST FUNDS COMBINING STATEMENT OF CASH FLOWS l For the Fiscal Year Ended September 30,1993 l Pension Nonexpendable i Trust Fund Trust Fund City Cemetery Totals { ! Employees' Perpetual September September j Pension Care 30,1993 30,1992 Increase (Decrease)In Cash and Cash Equivalents: ] ' j Cash Flows from Operating Activities: s Cash Received from Customers.. $ ~
$ 14.700 $ 14,700 $ 20.700 j Employer Contnbutions . 12.275.300 - 12.275.300 12.234.700 Employee Contnbutions . 6.788.600 - 6.788,600 6.686.800 i State Contnbutions . 844.400 -
844.400 778.800 Benefits Paid . (7.294,700) - (7,294.700) (6.817.400) l Refunds Paid.. (1.187,800) -. (1,187.800) (956.600) l Administratwe Cost Paid.. (1.008.500) - (1.008.500) (911.700)
- Not Cash Provided by Operating Activities........ 10.417.300 14.700 10.432.000 11.035.300 l
4 Cash Flows from investing Activities: Purchase of Investment Secunties . (297.085 200) - (297.085.200) (184,829.400) ] Proceeds from Sale and Matunties of J , j Investment Secunties . 258.675.800 - 258,675.800 158.253,900 i Receipts of Interest on investments.. 21.139.700 279.500 21.419.200 20.631.900 ! Net Cash Provided by (Used for) investing A c tivitie s ................ --. (17.269.700) 279.500 (16.990.200) (5.943.600) i i Net increase (Decrease)in Cash and Cash Equivalents . (6,852.400) 294.200 (6.558.200) 5,091.700 Cash and Cash Equivalents at Beginning of Year.. 8.329.100 4.558.800 12.887.900 7.796.200 { 1 Cash and Cash Equivalents at End of Year...... . . $ 1.476.700 _$ 4.853.000 $ 6.329.700 $ 12,887.900 l ! Classified As: } Unrestricted Assets-- $ 1.476.700 $ 4.853.000 $ 6.329.700 $ 12.887.900 i Reconciliation of Operating income to Net Cash f a Provided by Operating Activities: j Operating income . $ 31.553.000 $ 294.200 $ 31.847.200 $ 31.679.400 J Adjustments to Reconcile Operating income to i To Cash Provided by Operating Activities: (increase) Decrease in Accounts Receivable . 3.400 - 3,400 (26.600) lj Increase in Accounts Payable.. 600 600 14.400 j Receipts of interest on investments . (21.139.700) (279.500) (21.419,200) (20 631.900) j Total Adjustments . .. .. . .............. .. (21.135.700) (279.500) (21.415.200) (20.644.100) Net Cash Provided by Operating Activities.. .. . $ 10.417.300_ $ 14.700 $ 10.432.000 $ 11.035,300 i i I F-4 t 1 1 L-
CITY OF TALLAHASSEE, FLORIDA EXPENDABLE TRUST FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE For the Fiscal Year Ended September 30,1993 Special Deficiencies Downtown Totals Capital and improvement September September Projects Emergencies Authonty Railroad 30,1993 30.1992 Revenues: Taxes., $ - $ - $ 87,500 $ - $ 87,500 $ 86.800 Interest.. 315,000 1,187,700 11,100 1,600 1,515,400 1,521,300 ! Miscellaneous., - 507,100 1,600 - 508,700 52.600 ) Rentalincome.. - - - 76.900 76.900 - I Total Revenues . 315.000 1.694.800 100.200 78 500 2.188.500 1.660.700 l Exponditures: Current: Culture and Recreation.. - 559,400 99,400 - 658,800 142,500 Distnbution of Earnings.. - - - 78.500 78.500 - l Total Expenditures.; - 559 400 99.400 78,500 737.300 142.500 l l Excess Revenues Over ! Expenditures. 315.000 1.135.400 800 - 1.451,200 1.518.200 Othor Financing Sources (Uses): l Operating Transfers in.. 10d,500 1,009,500 - - 1,118,000 3,890,500 l Operating Transfers (Out).. (108 500) (916.400) (13.600) - (1.038,500) (496.500) l Total 0,ther Financing Sources i (Uses). - 93.100 (13.600) - 79.500 3.394.000 Excoss of Revenues and Other Financing Sources (Uses) Oeer (Under) Expenditures.. . ... . . 315.000 1,228.500 (12,800) - 1,530,700 4,912,200 Fund Balances . October 1.. 6,344,100 19.612.300 168,800 - 26.125.200 21,213.000 , Residual Equity Transfer in. - - - 100,000 100.000 - l Residual Equity Transfer Out.. (6,659,100) - - - (6,659,100) - Initial Contnbution by Other l Governments.. - - - 931,200 931.200 - Fund Balances September 30.... .. $ -
$ 20.840.800 156.000 $ 1.031.200 $ 22.028.000 $ 26.125.200
=========.-=$
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, _ _ _ . ~ , . . __ _ _ . , _ _ . _ . _ _ _ _ , _ _ . . . . . _ . _ _ _ , _ _ _ , _ . - , . . _ _ _ . . . _ _ _ _ _ _ _ _,. . . _ _ . _ . _ - _ _ _ . . . _ _ . _ _ _
CITY OF TALLAHASSEE, FLORIDA DEFERRED COMPENSATION FUND STATEMENT OF CHANGES IN ASSETS AND LIABILITIES For Fiscal Year Ended September 30,1993 Balance Balance October 1 September 30, 1992 Additions Deductions 1993 ASSETS Investments . $ 6.718.900 $ 1.499.000 $ 356.800 $ 7.861.100 Total A s s e ts... .. . . . . . . .. . . ... .. . .... 36.718.900 $ 1.499.000 $ 356.800 $ 7.861.100 LIABILITIES Deferred Compensation Payable . $ G.718.900 $ 1,499.000 $ 356.800 $ 7.861.100 Total Llabilities.: ...... $ 6.718.900 $ 1.499.000 $ 356.800 $ 7.861.100 l I l l l t I r F6 l
GENERAL FlXED ASSETS ACCOUNT GROUP To account for fixed assets not used in Proprietary Fund operations or accounted for in Trust Funds. 1 I 1 i l l
CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF GENERAL FIXED ASSETS .BY SOURCES September 30 1993 1992 General Fixed Assets: Land $ 25,558,600 $ 14.677,100 Build:ngs.. 35.654,100 31,574,500 Improvements other than Buildings . 9,297.400 4,674.300 Equipment . 11,983.100 13.119,100 Construction in Progress . 15,359,200 28,057,400 Equity Investment in Railroad Fund - 554.900 - Total General Fixed Assets.. . . .. . . .. $ 98.407,300 $ 92.102.400 investment in General Fixed Assets from: General Revenue Bonds . $ 26.958,000 $ 27,170,100 General Fund Revenues . 21,092.900 22,399,400 Grants . 7,345,100 6,712,400 Capital Improvement Fund . 38,715,500 34.256,000 Gifts . . 792,400 752,500 Stormwater Management Fund . 117,600 121,600 Sa'es Tax Construction Fund . 2.830,900 690,400 Equ:ty investment in Railroad Fund . 554.900 - TotalInvestment in General Fixed Assets., . . $ 98.407.300 $ 92.102.400 l l l l l l 1 1 G-1 l
I CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY September 30,1993 Improvements Other Than Total Land Buildings Buildings Equipment l General Government: Control: City Commission.. $ 12,200 $ - $ ~ $ -
$ 12,200 City Managor,. 41,700 - - - 41,700 City Treasurer-Clerk.. 210,300 - - 72,300 138,000 City Auditor.. 73.000 - - -
73.000 Total Control.. . 337.200 - - 72.300 264.900 Staff Agencies: Management and BudgeL 13.300 - - - 13,300 Minonty Business.. 7.200 - - - 7,200 Engineering , 632,000 - 428,800 - 205.200 Public information . 182.000 - - 72,300 109,700 Code Enforcement., 14,600 - - - 14,600 General Government Building . 45.504,700 12,913,200 21,983,200 6,460,000 4,148,300 Community Development.. 4,216.900 383,100 3,734,900 10,700 88,200 Growth Management., 11,600 - - - 11,600 Environmental Services . 38.400 - - - 38.400 Total Staff Agencies.. 50.620,700 13.296,300 26.144,900 6.543.000 4.636.500 Total General Government....... 50 957.900 13.296.300 26.144.900 6.615.300 4.901,400 Public Safety: Fire Protection- 5.969,100 411,800 2,751,800 27.900 2.777.600 1 Police Protection.. 5,421,000 500.000 2.543.700 67,300 2,310,000 Building inspection.. 48.100 - - 700 47,400 l Total Public Safetyz 11.438.200 911.800 5.295.500 95.900 5.135.000 Other: Hignways and Streets . 8,902.000 7,480,700 125.100 154,900 1.141.300 l Sanitation.. 8.100 - - - 8,100 Recreation . 11,106,300 3,869,800 4.068.700 2,371,200 796.600 Cemetenes - 80.700 - 19.900 60,100 700 l , Total othe r.. ... .. .... ........... 20,097.100 11.350.500 4 213.700 2.586.200 1,946.700 l Total General Fixed Assets l Allocated to Functions....., .... ....... 82,493,200 $ 25 558.600 $ 35.654.100 $ 9 297,400 $ 11.983.100 l Construction in Process.. 15.359,200 l l Equity Investment in Railroad Fund.. 554.900 l l Total General Fixed Assets... .. ..... $ 98.407.300 l l G-2 _ _ . ~ . _ _ _ _ . _ _ _ . _ _ _ _ . _ _ . _ _ _ . _ _ . _ . _ _ . _ _ _ _ . . .
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CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY September 30,1993 General Additions Deductions General Fixed Assets And And Fixed Assets October 1,1992 Transfers Out September 30.1993 _ Transfers in General Government: Control: City Commission.. $ 19,000 $ - S 6,800 $ 12.200 City Manager.. 68,800 - 27,100 41,700 City Treasurer-Clerk.. 225,200 - 14,900 210,300 City Auditor.. 45,600 34,700 7,300 73.000 Total Controt_ 358.600 34.700 56,100 337.200 Staff Agencies: Management and Budget... 30,900 - 17,600 13,300 Minority Business.. 11,000 3,100 6,900 7,200 Grants Managemeat.. 8,000 - 8,000 - Community Liaison Office.. 7,700 - 7,700 - Engineering.. 501.900 175.700 45,600 632,000 Public Information.. 210,900 - 28,900 182,000 Code Enforcement.. 18,100 - 3,500 14,600 General Government Building.. 27,612,300 18,037,800 145,400 45,504,700 Communrty Development.. 3,538.600 770,300 b2,000 4,216,900 Growth Management... 17,600 - 6,000 11,600 Environmental Services.. 39.300 - 900 38.400 Total Staff Agencies--- 31.996.300 18.986,900 362.500 50.620.700 Public Safety: Fire Protection.. 6,360,700 - 391,600 5,969,100 Police Protection.. 5,600,200 164,200 343,400 5,421,000 Building Inspection.. 70.600 - 22.500 48,100 Total Public Safety = 12.031,500 164.200 757.500 11.438.200 Other: Highways and Streets.. 8,855,600 180,000 133,600 8,902,000 Sanitation.. 8,900 - 800 8,100 Recreation.. 10,712,600 1,520,400 1,126.700 11,106,300 Cemeteries.. 81.500 2.200 3.000 80,700 Total Other= = 19.658.600 1,702.600 1,264.100 20.097,100 Construction in Progress.. 28,057,400 8,916,100 21,614,300 15,359,200 Equity Investment in Railroad Fund. - 554,900 - 554,900 Total General Flzed Assets.. . . . $ 92.102.400 $ 30.359.400 $ 24.054,500 $ 98.407.300 G-3 _ _ _ _ )
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GENERAL LONG-TERM DEBT ACCOUNT GROUP To account for general long-term liabilities not accounted for in proprietary funds and trust funds. 1
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CITY OF TALLAHASSEE, FLORIDA STATEMENT OF GENERAL LONG. TERM DEBT September 30 199? 1992 Amount Available and To Be Provided For the Payment of General Long-Term Debt: Amount Available in Debt Service Fund-- $ 19,852 100 $ 16,755,700 Amount To Be Provided: Advance from Special Capital Projects . - 976,100 Loans from Other Funds.. 4,875,500 4,950,000 Accrued Leave.. 7,307,800 6,806,700 Capital Refunding Bonds, Senes 1984. 4,543,800 6,290.800 Capital Bonds, Series 1989.. 2,043,700 17,526,900 Capital Bonds, Series 1993.. 23.840.900 - Total To Be Provided 42.611,700 36.550,500 Total Available and To Be Provided . $ 62.463.800 $ 53.306.200 General Long Term Debt Payable: Note Payable.. $ 300,500 $ 338,400 Accrued Leave.. 7,307.800 6,806,700 Capital Refunding Bonds. Series 1984.. 20,605,000 20,605,000 Capital Bonds Senes 1989.. 2,905,000 19,630,000 Capital Bonds, Series 1993.. 26,470,000 - Advance from Special Capital Projects.. - 976,100 Loans from Other Funds.. 4.875.500 4.950.000 Total General Long Term Debt Payable- $ 62.463.800 $ 53.306.200 ( l l H-1
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STATISTICAL SECTION Statistical schedules differ from financial statements because thay usually , cover more than one fiscal year and me/ present non-accounting data. These schedules reflect social and economic data, and financial trends of the government.
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CITY OF TALLAHASSEE, FLORIDA COMMENTS ON THE STATISTICAL SECTION September 30,1993 The following statistical tables recommended by the NCGAS 1 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 revenue bonds which are not general obligation debt and these corresponding tables are included. b) Ten year debt service coverage schedules for enterprise revenue bonds have not been prepared because the City has had several bond refundings during the last ten year period. Thus, inclusion of such schedules would only 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. I f.1
CITY OF TALLAHASSEE, FLORIDA i GENERAL GOVERNMENT EXPENDITURES BY FUNCTION AND TRANSFERS Last Ten Fiscal Years Culture (2) Fiscal General Public Human Economic Physical (2) and Transfers Year Govemment Safety Transportation Services Environment Environment Recreation Out Total (1 ) 1984 5 5,346,300 $ 13,794,800 $ 5,602.800 $ 812.300 5 243,900 $ 5,481,900 $ 4.006,500 $ 13.055,100 $ 48,343,600 1985 5.508,700 15,954,700 6.241,700 830,000 244,000 5,723,600 4.170,600 11,768,900 50,442,200 1986 6,165,000 16.346,800 5,998,200 914,100 256.700 5,578,200 4,570.800 17,833.800 57.663,600 1987 6,660,900 18.113,100 7.053,700 989,100 264,700 7,516,700 4,719,900 14,151,600 59.469,700 1988 6,890,000 21,143,600 6,978,700 1,007.000 273.500 955,800 4.404.000 16,634,800 58.287.400 1989 8,035,500 27.416.200 6.711,100 1,108,900 434,400 1,283,400 4,808,900 19,359.000 69,157,400 1990 9,377,200 28,999.700 7,999,000 1,222.900 502,200 1,691.300 5,411,800 24.597,800 79.801,900 1991 11,434,000 32,116,600 8,077,500 1.437,900 548,700 2,519.000 6.539,600 23,784,900 86.458,200 1992 12,816,900 34.081,200 8.844,900 1,798,800 714,500 2,750,700 7,199,400 30.373,500 98,579,900 1993 13.034,400 35,799,200 9,174,400 2,366,000 765.000 2.610,600 7,689,800 23,883,600 95,323.000 E GENERAL REVENUES BY SOURCE AND TRANSFERS Last Ten Fiscal Years Licenses Fines Charges (2) Inter-Fiscal and and for governmental Misce!!aneous Transfers Total (1) Year Taxes Permits Forfeitures Services interest Revenues Revenues in Revenue 1984 $ 10.434,300 $ 1,256,900 $ 454,300 $ 3,625,300 $ 663,700 $ 10.039,600 $ 501,900 5 22,476.500 $ 49.452.500 1985 10,973,100 850,400 485,200 4,143,900 434,000 10,136,500 266.500 22,733,700 50,023.300 1986 13.443,700 1,102,500 591,600 6,610.100 503,200 7,501.000 870.200 28,591,500 59.213.800 1987 14,380,100 997,400 751,900 8,809.400 298,400 7,710.200 826,400 25,399.700 59,173,500 1988 17,877,000 1,367,400 753,300 3,186,100 296,200 8,810,500 837,300 26,455,200 59.583,000 1989 19.020,600 1,409,800 987,000 6,187,900 436,900 8.971,800 825,200 30.246,600 68.085,800 1990 25,691,900 1,426,000 1,269,900 6,506.200 589,300 9.666,700 754,500 33,969,600 79,874,100 1991 30,394,300 1,807,200 1,109,300 7,673,000 522,900 9,232,700 507,500 35.487,300 86,734,200 1992 32,117,100 2,055,700 1,271.300 8,574,400 382,300 8.896,800 388,100 44.655.300 98,341,000 1993 23,264,500 2.233,900 1,320,800 10,010,300 295,700 10,707.200 1,671,800 45.747,200 95,251,400 (1) Includes General Fund only. (2) Solid Waste, Golf Course, and Stormwater activities have been set up as separate funds.
CITY OF TALLAHASSEE, FLORIDA PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Fiscal Years Total Taxable Fiscal Assessed Assessed Year Valuation Valuation Levy Collection Percent (1) 1984 5 3,281,661,000 $ 1,812,714,500 $ 4,582,500 $ 4,459,500 98 1985 3,438,932,300 1,976,951,300 4,918,700 4,799,500 98 1986 3,630,822,400 2,121,548,700 5,278,400 5,140,700 97 1987 3,834,850,400 2,278,953,600 5.670,100 5,500,000 97 1988 5,266,046,400 2,406,246,300 6,978,100 6,744,400 97 1989 5,870,328,400 2,537,446,100 7,358,400 7,107,300 97 1990 6,119,396,400 2,738,110,200 7,975,200 7,758.800 97 1991 6.361,162,100 2,942,911,200 9,459,900 9,106,000 96 1992 6,584,152 200 3,157,139,100 10,146,700 9,795,700 97 1993 6,720,821,200 3,258,883,300 10,470,700 10,123,700 97 (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, after all tax certificates are sold, has fully collected all ad valorem tax revenues. 1-3
CITY OF TALLAHASSEE, FLORIDA ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY i Last Ten Fiscal Years l Ratio of Total Real Property Personal Property Centrally Assessed Totals Assessed Estimated Estimated Estimated Estimated to Total Fiscal Assessed Actual Assessed Actual Assessed Actual Assessed Actual Estimated l Year Value Value Value Value Value - Value Va!ue Value Actual Value 1984 2,870,509,100 3,301,085,500 410.125,400 471,644,200 1,026,500 1.180,500 3,281,661,000 3,773,910,200 87 % 1985 3,011.116,200 3,542,489,600 426,460,200 501,717,900 1,355,900 1,595,200 3,438,932,300 4,045.802,700 85% 1986 3.191,139,500 3,754,281,800 438,363,200 515,721,400 1,319,700 1,552.600 3.630,822,400 4,271,555.800 85 % 1987 3.373,832,400 3.969,214,600 459,105,300 540,123.900 1,912,800 2,250,300 3,834,850,400 4.511.588,800 85% 7 , 1988 4,770,490,100 5,612,341,300 493.616,400 580,725,200 1,939,900 2,282,200 5.266,046,400 6,195,348,700 85% 1989 4,889,803,500 5,752,709,900 978,850,400 1,151,588,700 1,674,500 1,970,000 5,870.328,400 6,906,268,600 85 % 1990 5,119,777,800 6.023,268,000 997.936,300 1,174,042,700 1,682,300 1,979,200 6.119,396,400 7,199,289,900 85% l 1991 5.322,948,000 6,262,291,800 1,036,486,500 1,219,395,900 1,727,600 2,032,500 6,361,162.100 7,483,720,100 85% 1992 5,511,272,000 6,483,849,400 1,071.207,300 1,260,243,900 1,672,900 1,968.100 6,584,152,200 7.746,061,400 85% 1993 5.628,046,300 6,621,230.900 1,091,203,500 1,283,768,800 1,571,400 1,848,700 6.720,821,200 7,906,848,500 85% Source: Leon County Property Appraiser
CITY OF TALLAHASSEE, FLORIDA . ASSESSED VALUATIONS, MILLAGE AND TAXES i LEVIED AND COLLECTED . Last Ten Fiscal Years i 1 .i 1986 1987 1988 1989 1990 1991 1992 1993 1984 1985
$ 3.630.822.400 $ 3.834.850.400 5 5.266.046.400 5 5 870.328,400 5 6.119 341.000 $ 6.361.162.100 5 6.584.152.200 5 6.720.821,200 TOTAL VALUATIONS S 3.281.661.000 $ 3.438.932.300 5 REAL ESTATE EXEMPTIONS
- 3,676.500 5.006.300 6.025.500 9.397.100 10.668.300 8.479.200 8.187,000 12.004.000 28.476.800 36.067.500 Agncultural Adjustment _
546,629.500 616.124.100 632.281.500 2,128.416,400 2,589.404.300 2.620.076.000 2.632.149.900 2,630,197.000 2.637.331.800 Government Exemptm .. 591.436.300 461,980,400 472,877.600 265.411.900 262.484.600 263.288.800 266.277,800 241.927,700 245.873.700 institutional Exempton .. 529.136.700 449.661.800 Indivu2ual or Homestead Exemptions .. 384.513.500 410.779.800 419.964,700 435.642.800 449,804.100 466.744.000 484.068.000 502.191.900 520.241.000 536.549.800 5.179.100 5,697.800 5.499.400, 5.770.200 5.611.000 5.627.300 6,170.600 6,115.100 Other Chantable Exemptsons 4.990.300 5.096.800
' j 5 TOTALEXEMPTION AND 1,461.981 000 1.509.273 800 1.555.896,800 2.co9.800.100 3.332.882.300 3.381.230.800 3.41S.250.900 3.427,013,100 3.461.937.900 ADJUSTMENTS t.468 946.500 i
5 1.812.714.500 $ 1.976.951.300 $ 2.121.548 600 $ 2.278.953.600 $ 2.406.246.300 $ 2.537,446.100 5 2.738,110.200 $ 2.942.911.200 5 3.157.139.100 $ 3.258.883.300 Tl1XABLE VALUATlON 2 528 2 488 2 488 2 488 2 900 2 900 2 900 3 200 3 200 3 200 , MILLAGE LEVIED 4 l TOTAL TAXES LEVIED $ 4.582.500 $ 4.918.700 $ 5,278,400 $ 5.670.000 $ 6.978.100 $ 7.358.600 $. 7.975.200 5 9.459.900 5 10.146,700 5 10.470.700 i Less Adjustments & Descmunt. 137.700 133.800 142.100 174.400 215,300 319.400 230.800 272.600 302.100 323.000 ,
$ 5.136.300 5 5.495.600 5 6.762.800 5 7.039.200 5 7.744,400 5 9.187.300 $ 9.844.600 $ 10.147,700 1 Net Taxes Levied .. .. . S 4.444.800 $ 4.784.900 ' i
! NET COLLECTED (1)(2) $ 4 459.500 $ 4.799 500 $ 5.140.700 $ 5.500.000 $ 6,744.400 3 7.107.300 $ 7.758.800 $ 9.106.000 $ 9.795,700 5 10.123.700 . f j Source- Leon County Property Appraiser t I i , l (1) Flonda Statutes pnude for a discount of up to four percent for early payment of ad valorem taxes. An unpaid taxes become delmquent on Aprd 1 and are sold at auchon on June 1 i of each year as tax certificates. The Cny, after all tax certificates are sold, has fully cx2ected all ad valorem tax revenues ' .i
- (2) Net collected includes penalties or late payments.
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CITY OF TALLAHASSEE, FLORIDA PROPERTY TAX RATES DIRECT AND OVERLAPPING GOVERNMENTS (Per $1000) Last Ten Fiscal Years City of Tallahassee County School Board Leon County N.W Water Fiscal Debt Management Year Operating Operating Service Operating District Total 1984 2.53 7.30 0.37 5.17 0.05 15.42 1985 2.49 7.13 0.25 5.17 0.05 15.09 1986 2.49 7,11 0.21 5.45 0.05 15.31 1987 2.49 7.56 0.20 5.80 0.05 16.10 1988 2.90 7.34 0.16 6.20 0.05 16.65 1989 2.90 7.65 1.24 6.79 0.05 18 63 1990 2.90 8.53 1.99 8.09 0.05 21.56 1991 3.20 8.86 1.97 8.09 0.05 22.16 1992 3.20 8.88 1.90 8.29 0.05 22.31 1993 3.20 9.00 1.79 8.86 0.05 22.90 Source: Leon County Tax Collector SPECIAL ASSESSMENT COLLECTIONS Last Ten Fiscal Years Assessments Assessments Fitcal Due Assessments Assessments Due 1 Year October 1 Levied Collected September 30 q 1984 763,900 250,000 217,200 796,700 1985 796,700 68,500 236,600 628,600 l j 1986 628,600 343,000 110,700 860,900 4
! 1987 860,900 308,600 240,600 928,900 1988 928,900 - 227,500 701,400 i 1989 701,400 - 132,100 569,300 l 1990 569,300 - 145,900 423,400 i
1991 423,400 129,600 115,200 437,800 ! 1992 437,800 160,500 188,200 410,100 } j 1993 410,100 126,900 90,700 446.300 } l-6 l _ . . _ . _ . -
CITY OF TALLAHASSEE, FLORIDA COMPUTATION OF LEGAL DEBT MARGIN September 30,1993 TAXABLE ASSESSED VALUE.. $ 3,258.883.300 Debt Limit 20 Percent of Assessed Value.. $ 651,776.700, The City of Tallahassee has no general obligation debt outstanding; the amount of general obligation debt the City can issue is limited by City Charter. l l l i I7
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- CITY OF TALLAHASSEE, FLORIDA t
- COMPUTATION OF DIRECT AND OVERLAPPING DEBT l September 30,1993 i
t DIRECT DEBT I Non-Self-Supporting Revenue Debt: Capital Refunding Bonds Series 1984. $ 20,605,000 Capital Bonds, Series 1989., 2,905,000 1 Capital Bonds Series,1993 A & B.. , 26,470,000 Less: Debt Service and Reserve Funds.. (19,852,100) Total Direct Debt.. $ 30.127,900 OVERLAPPING DEBT l 1 Leon County School Beard j Tax Supported Ad Valetem Debt: General Obligation B ind Issue 1993 Refunding., $ 43,570,000 l Less: Debt Service and Reserve Funds.. (4,136.700) $ 39,433,300 } 1991 Refunding.. , 38,460,000 i Less: Debt Servbe and Reserve Funds.. (4,037,700) 34,422,300 State Board of Ecucation.. . 3,575,000 Less: Debt Serrice and Reserve Funds.. (118.300) 3,456,700 Race Track Sche 31 Portion Revenues.. 1,855,000 Less: Debt SerVce and Reserve Funds.. (414,900) 1,440,100 Leon County Non-Self-Supporting Pevenue Debt Refunding Bonds 1991 Series Courthouse,. 33,080,000 Less: Debt Service and Reserve Funds.. (2,758.300) 30,321,700 1 Refund Revenue Bonds 1988 Series.. 2,715,000 Less: Debt Service and Reserve Funds . - 2,715,000 Library Construction Revente.. 2,250,000 Less: Debt Service and Reserve Funds.. (158.400) 2,091,600 Jail Construction. Serie: 1991.. 45,655,000 Less: Debt Service and Reserve Funds.. (5,799,800) 39.855.200 153,735,900 , CITY SHARE OF NET OVERLAPPING DEBT (1)..... .. 104,540,400 l l TOTAL CITY DIRECT AND OVERLAPPING DEBT. . $ 134,668,300 1 l SELF-SUPPORTING REVENUE DEBT: j Electric Revenue Bonds.. $ 118,872,300 Less: Debt Service and Reserve Bonds.. (11,681,500) $ 107,100,000 CUS Revenue Bonds . 49,160,000 l Less: Debt Service and Reserve Bonds.. (4,857,900) 44,302,100 a Airport Revenue Bond.. 11,885,000 Less: Debt Service and Reserve Bonds.. (1,195.200) 10,689,800 l Sunshine State Loan.. 21,699,700 i Less: Debt Service and Rcserve Bonds., (266,400) 21,433,300 TOTAL SELF-SUPPORTING REVENUE DEBT $ 183.616,000 (1) City's share calculated based on 1992 County Taxable Value of $4,775,685,700 and City Taxable Value of $3,258,883.300 percent overlapping 68 percent. 1-8 I
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CAPITAL., REFUNDING BONDS SERIES 1984 September 30,1993 Invested Fiscal Sinking Net , Year Fund Payment l Ending Principal Interest Earnings Due i 1994 $ 540,000 $ 2,080,600 $ 995,800 $ 1,624,800 1995 590,000 2,029,300 995,800 1,623,500 . 1996 650,000 1,972,700 995.800 1,626,900 ! 1997 710,000 1,909,300 995.800 1,623,500 ; 1998 785,000 1,839,000 995,800 1,628,200 1999 860,000 1,760,500 995,800 1,624,700 2000 173,000 2,447,300 995.800 1,624,500 2001 156,100 2,465,600 995,800 1,625,900 2002 140,400 2,479,800 995,800 1,624,400 l 2003 126,600 2,494,000 995,800 1,624,800 l 2004 113,900 2,505,600 995,800 1,623,700 2005 945,000 1,674,500 995,800 1,623,700 2006 1,050,000 1,574,100 995,800 1,628,300 2007 13,765,000 1,462,500 995,800 14.231,700 Totals $ 20.605,000 $ 28,694,800 $ 13,941,200 $ 35,358,600 l Bonds Dated: May 1,1984 Originalissue Amount: $20,605,000 Principal Due: October 1 of each year, beginning October 1,1994 Interest Due: April 1 and October 1 of each year, beginning October 1,1984 Pt n: Aaent: Chemical Bank of New York Bonds Maturing Call Premium October 1,1994 to September 30,1995 Two Percent October 1,1995 to September 30,1996 One and One Half Percent October 1,1996 to September 30,1997 One Percent October 1,1997 to September 30,1998 One Half Percent October 1,1998 and thereafter Par Security: The Bonds are payable solely from and secured by a first lien and pledge of the Public Service Tax, Local Govemment Half cent Sales Tax and Guaranteed Entitlement Revenues. Bond Ratings: Moody's A1, Standard and Poor's AAA l-9 __ _ _ . - . .- ~ . - -~ . _ _ _ . . _ _ _ . - _ . . . _ . _ . , . _ . - . . . . . . - . . , _ , _ , . _ , _ _ . _ _ , _ _ _ ,
. . . . . . ~ -. . - - . - . . . . . _ - . . . . . . - ,_ - - ._ - - - . ._ - -
1 l CITY OF TALLAHASSEE, FLORIDA i
SUMMARY
OF DEBT SERVICE REQUIREMENTS CAPITAL BONDS SERIES 1989 September 30,1993 i i Fiscal Year I Ending Principal interest Total 1994 $ 650,000 $ 178,800 $ 828,800 1995 700,000 132,300 832,300 1996 750,000 82,200 832,200 1997 805.000 28.200 833,200 Totals $ 2,905.000 $ 421.500 $ 3.326,500 Bonds Dated: April 1,1989 Originalissue Amount: $21,220,000 Principal Due: October 1 of each year, beginning October 1,1990 Interest Due: April 1 and October 1 of each year, beginning October 1,1989 Paying Agent: Chemical Bank of New York 1
)
. Bonds Maturing Call Dremium I October 1,1996 to September 30,1997 Two Percent October 1,1997 to September 30,1998 One Percent i l Security: The Bonds are, on parity with the outstanding Capital Refunding Bonds, Series 1984, payable solely from and secured by a first lien and pledge of the Public Service Tax, Local Government Half-cent ' Sales Tax and Guaranteed Entitlement Revenues. j Bond Ratings: Moody's A1, Standard and Poor's A+ l 110
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CAPITAL BONDS SERIES 1993A September 30,1993 Fiscal Year 2 Ending Principal Interest Total 1994 $ 1,260,000 $ 1,028,400 $ 2,288,400 1995 950,000 791,200 1,741,200 1996 980,000 760,800 1,740,800 1997 1,015,000 726,500 1,741,500 1998 1,055,000 687,900 1,742,900 1999 1,095,000 645,700 1,740,700 2000 1,145,000 599,700 1,744,700 2001 1,195,000 549,400 1,744,400 2002 1,245,000 495,600 1,740,600 2003 1,305,000 438,300 1,743,300 2004 1,365,000 377,000 1,742,000 2005 1,430,000 311,500 1,741,500 2006 1,500,000 241,400 1,741,400 2007 1,575,000 166,400 1,741,400 2008 1,655,000 86,100 1,741,100 Totals $ 18,770,000 $ 7,905.900 $ 26,675,900 Bonds Dated: July 1,1993 Originalissue Amount: $18,770,000 Principal Due: October 1, beginning 1994 Interest Due: April 1 and October 1 of each year, beginning April 1,1993 Paying Agent: First Union National Bank of Florida, Jacksonville, Florida Escrow Agent: Chase Manhattan Bank, N.A., New York, New York Secunty: The Series 1993 Bonds will be payable solely from and secured as to payment of principal and redemption price thereof and interest thereon in accordance with their terms and the provisions of Resolution No. 84-R-1305, as amended and supplemented (the " Original Resolution"), and Resolution No. 93-R-0026, as amended and supplemented (together with the Original Resolution, the " Resolution"), solely by a pledge of and lien on the Pledged Revenues which consist of (a) Public Service Taxes; (b) Guaranteed Entitlement Revenues; (c) local Government Half-Cent Sales Tax; and (d) earnings on the investment of all funds and accounts created by the Resolution, except the Rebate Fund; all as described in the Resolution and subject to the provisions of the Resolution permitting the application thereof for thu purposes of and on the terms and conditions set forth therein. The Series 1993 Bonds are being issued on a parity wita the City's Capital Refunding Bonds, Series 1984, and Capital Bonds, Series 1989, remaining outstanding after the issuance of the Series 1993 Bonds. Optional Rodemption Redemption Price October 1,2001 to September 30,2002 One Hundred and One Percent October 1,2002 and thereafter One Hundred Percent Bond Patings: Moody's Aaa Standard & Poor's AAA, Fitch AAA i 1-11
1 CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CAPITAL BONDS SERIES 19938 September 30,1993 f Fiscal Year Ending Principal Interest Total 1994 $ -
$ 505,300 $ 505,300 1995 - 404,300 404,300 1996 - 404,300 404,300 1997 -- 404,300 404,300 1998 - 404,300 404,300 1999 - 404,300 404,300 2000 - 404,300 404,300 2001 - 404,300 404,300 2002 - 404,300 404,300
, 2003 - 404,300 404,300 2004 - 404,300 404,300 2005 - 404,300 404,300 2006 - 404,300 404,300
- 2007 - 404,300 404,300 l 2008 - 404,300 404,300 1
2009 1,620,000 404,300 2,024,300 2010 1,705,000 319,200 2,024,200 2011 1,795,000 229,700 2,024,700 2012 2.580,000 135,500 2.715,500 Totals $ 7,700,000 $ 7.254,200 $ 14,954,200 Bonds Dated: July 1,1993 Originalissue Amount: $7,700,000 Principal Due: October 1, beginning 2009 Interest Due: April 1 and October 1 of each year, beginning April 1,1993 Paying Agent: First Union National Bank of Florida, Jacksonville, Florida Escrow Agent: Chase Manhattan Bank, N.A., New York, New York Security: The Series 1993 Bonds will be payable solely from and secured as to payment of principal and redemption price thereof and interest thereon in accordance with their terms and the provisions of Resolution No. 84-R 1305, as amended and supplemented (the " Original Resolution"), and Resolution No. 93-R-0026, as amended and supplemented (together with the Original Resolution, the " Resolution"), solely by a pledge of and lien on the Pledged Revenues which consist of (a) Public Service Taxes; (b) Guaranteed Entitlement Revenues; (c) Local Government Half-Cent Sales Tax; and (d) eamings on the investment of all funds and accounts created by the Resolution, except the Rebate Fund; all as described in the Resolution and subject to the provisions of the Resolution permitting the application thereof for the purposes of and on the terms and conditions set forth therein. The Series 1993 Bonds are being issued on a panty with the City's Capital Refunding Bonds, Series 1984, and Capital Bonds, Series 1989, remaining outstanding after the issuance of the Series 1993 Bonds. Optional Redemption Redemption Price October 1,2001 to September 30,2002 One Hundred and One Percent October 1,2002 and thereafter One Hundred Percent Bond Ratings: Moody's Aaa Standard & Poor's AAA, Fitch AAA l12
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS JllNIOR LIEN ELECTRIC REVENUE BONOS SERIES 1992A September 30,1993 Fiscal Year Ending Principal interest Total 1997 $ 1,425,000 $ 122.700 $ 1,547,700 2002 1,402,500 132,100 1.534.600 Totals $ 2.827,500 $ 254.800 $ 3.082.300 Bonds Dated: January 23,1992 OriginalIssue Amount: $2,862,000 Approximated Maturity Comooundina Rate 2/1/1997 5.57 % 2/1/2002 6.09% Security: The Series 1992A Bonds are secured by the Pledged Revenues on a parity with the City's Junior Lien Electric Revenue Bonds, Series 1985. Bonds are subject to redemption prior to stated matunties and are presented at face amount outstanding. i
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113
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS ! ELECTRIC REFUNDING REVENUE BONDS SERIES 1992A September 30,1993 Fiscal Year i __ Ending Principal Interest Total i 1994 $ 4,125,000 $ 4,014,300 $ 8,139,300 1995 4,275,000 3,865,800 8.140,800 1996 4,445,000 3,694,800 8,139,800 1997 4,645,000 3,499,200 8,144,200 1998 4,860,000 3,280,900 8,140,000 1999 5,100,000 3,042,800 8,142,800 2000 5,360,000 2,782,700 8,142,700 2001 5,640,000 2,501,300 8,141,300 2002 5,950,000 2,191,100 8,141,100 2003 6,285,000 1,857,900 8,142,900 2004 2,645,000 1,496,500 4,141,500 2005 7,030,000 1,343,100 8,373,100 2006 7,445,000 928,300 8,373,300 2007 7,895.000 481,600 8,376,600 Totals $ 75,700,000 $ 34,980,300 $ 110,680,300 Bonds Dated: November 1,1992 Originalissue Amount: $75,700,000 Principal Due: October 1, beginning 1994 Interest Oue: April 1 and October 1 of each year, beginning April 1,1993 Paying Agent: First Union National Bank of Florida, Jacksonville, Florida l Security: The Series 1992 Bonds will be payable solely from and secured as to payment of principal l and redemption price thereof and interest thereon in accordance with their terms and the provisions of the 1985 General Resolution and subsequently by the terms and provisions of the 1992 General Resolution, both as defined herein and in the manner described herein, solely by a pledge and assignment of (i) money in certain of the funds and accounts established under the Resolutions, (ii) the Net Revenues of the City's Electric System, and (iii) certain other amounts, subject to the provisions of the Resolutions permitting the application thereof for the purposes of and on the terms and conditions set forth in the Resolutions. i l Optional Redemption Redemption Price , October 1,2002 to Septemt:er 30,2003 One Hundred and Two Percent I October 1,2003 to September 30,2004 One Hundred and One Percent l October 1,2004 and thereafter One Hundred Percent I f l-14 i
l CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS ELECTRIC REVENUE BONOS SERIES 19928 September 30,1993 Fiscal Year Ending Principal Interest Total 1994 $ -
$ 2,473,000 $ 2,473,000 1995 - 2,473,000 2,473,000 1996 - 2,473,000 2,473,000 1997 -- 2,473,000 2,473,000 1998 - 2,473,000 2,473,000 1999 - 2,473,000 2,473,000 2000 - 2,473,000 2,473,000 2001 - 2,473,000 2,473,000 2002 - 2,473,000 2,473,000 2003 - 2,473,000 2,473,000
' 2004 4,000,000 2,473,000 6,473,000 2005 - 2,241,000 2,241,000 2006 - 2,241,000 2,241,000 2007 - 2,241,000 2,241,000 2008 6,375,000 2,241,000 8,616,000 2009 6,770,000 1,845,700 8.615,700 2010 7,195,000 1,422,600 8,617,600 2011 7,640,000 976,500 8,616,500 2012 8,110,000 502,800 8,612,800 l Totals S 40,090,000 $ 40,914,600 $ 81,004,600 Bonds Dated: November 1,1992 Originalissue Amount: $40,090,000 Principal Due: October 1, beginning 2004 Interest Due: April 1 and October 1 of each year, beginning Apnl 1,1993 Paying Agent: First Union National Bank of Florida, Jacksonville, Florida Security: The Series 1992 Bonds will be payable solely from and secured as to payment of principal and redemption price thereof and interest thereon in accordance with their terms and the provisions of the 1985 Oeneral Resolution and subsequently by the terms and provisions of the 1992 General Resolution, both as defined herein and in the manner described herein, solely by a pledge and assignment of (i) money in certain of the funds and accounts established under the Resolutions, (ii) the Net Revenues of the City's Electric System, and (iii) certain other amounts, subject to the provisions of the Resolutions permitting the application thereof for the purposes of and on the terms and conditions set forth in the Resolutions. Optional Redemption Redemption Price October 1,2002 to September 30,2003 One Hundred and Two Percent October 1,2003 to September 30,2004 One Hundred and One Percent October 1,2004 and thereafter One Hundred Percent I-15
l ! CITY OF TALLAHASSEE, FLORIDA i
SUMMARY
OF DEBT SERVICE REQUIREMENTS l AIRPORT REVENUE BONDS SERIES 1988A September 30,1993 Fiscal Year Ending Principal Interest Total 1994 $ 255,000 $ 911,200 $ 1,166,200 1995 270,000 894,600 1,164,600 1996 290,000 876,700 1,160,700 1997 310,000 856,800 1,166,800 1998 330.000 835,100 1,165,100 1999 355,000 811.400 1,166,400 2000 380,000 785,400 1,165,400 2001 410,000 757,300 1,167,300 2002 440,000 726.600 1,166,600 2003 470,000 693,100 1,163,100 2004 510.000 657,200 1,167,200 2005 550,000 617,600 1,167,600 2006 590,000 575,000 1,165,000 2007 635,000 529,300 1,164,300 2008 685,000 480,100 1,165,100 2009 740,000 427,000 1,167,000 2010 795,000 368,500 1,163,500 2011 860,000 305,700 1,165,700 2012 930,000 237,800 1,167,800 2013 1,000,000 164,300 1,164,300 2014 1.080,000 85.300 1,165,300 Totals $ 11,885,000 $ 12,596,000 $ 24,481,000 Bonds Dated: February 1,1988 Originalissue Amount: $12,350,000 Principal Due: October 1, beginning 1992 Interest Due: April 1 and October 1 of each year, beginning October 1,1988 Paying Agent: First Florida Bank, Tampa, Florida Security: The bonds are secured and payable from the net revenues of the Airport System. Bond Ratings: Moody's Aaa, Standard and Poor's AAA Mandatory Redemption Term Bonds Due October 1,2008: Term Bonds Due October 1,2014: Year Amount Year Amount ) 2004 $ 510,000 2009 $ 740,000 l 2005 550,000 2010 795,000 2006 590,000 2011 860,000 l 2007 635,000 2012 930,000 l 2008 685,000 2013 1,000,000 2014 1,080,000 Optional Redemption Redemption Price i October 1,1995 to September 30,1996 One Hundred Three Percent October 1,1996 to September 30,1997
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One Hundred Two Percent October 1,1997 to September 30,1998 One Hundred One Percent October 1,1998 and thereafter One Hundred Percent 116 1 l
l f CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CONSOLIDATED UTILITY REVENUE BONDS SERIES 1991 A September 30,1993 Fiscal Year Ending Principal Interest Total 1994 $ 165,000 $ 258,700 $ 423,700 1995 175,000 250,000 425,000 1996 185,000 240,500 425,500 1997 195,000 230,200 425.200 1998 205,000 219,000 424,000 1999 215,000 207,200 422,200 2000 230,000 194,500 424,500 2001 245.000 180,700 425,700 2002 260,000 165,700 425,700 2003 275,000 149,600 424,600 2004 290.000 132,300 422.300 2005 310,000 113.400 423,400 2006 330,000 93,300 423,300 2007 350.000 71,800 421,800 2008 375,000 49,100 424,100
,2009 380,000 24,700 404,700 Totals $ 4,185,000 $ 2.580,700 $ 6.765,700 Bonds Dated: May 1,1991 Originalissue Amount: $ 4,490,000 Principal Due: October 1, beginning 1992 Interest Due: April 1 and October 1 of each year, beginning 1991 Optional Redemption for A Bonds maturing on or After October 1,2002 Redemption Price October 1,1999 to September 30,2000 One Hundred and Two Percent October 1,2000 to September 30,2001 One Hundred and One Percent October 1,2001 and thereafter One Hundred Percent Security: The Series 1991 A Bonds are payable from and secured by a lien on and pledge of (i) money in certain of the funds and accounts established under Resolution No. 90-R-0052 of the City, as amended and supplemented (the " Resolution"), (ii) the Net Revenues of the City's Utility System, (iii) the Gross Revenues of the City's Stormwater Drainage system and (iv) certain other amounts.
Bond Ratings: Moody's Aaa Standard and Poor's AAA l-17
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; CITY OF TALLAHASSEE, FLORIDA l
SUMMARY
OF DEST SERVICE REQUIREMENTS CONSOLIDATED UTILITY REVENUE BONDS l l SERIES 19918 September 30,1993 l l I Fiscal Year j Ending Principal Interest Total i 1994 $ 1,035,000 $ 2,970,900 $ 4,005,900 1995 1,090,000 2,914,000 4,004,000 1996 1,150,000 2,851,800 4,001,800 1997 1,220,000 2,785,100 4,005,100 1998 1,290,000 2.713,200 4,003,200 1999 1,370,000 2,635,800 4,005,800 2000 1,450,000 2,552,200 4,002,200 2001 1,540,000 2,462,300 4,002,300 2002 1,635,000 2,365,300 4,000,300 1 2003 1,745,000 2,259,000 4,004,000 2004 1,865,000 2,143,800 4,008,800 2005 1,985,000 2,020,700 4,005,700 2006 2,120,000 1,887,700 4,007,700 2007 2,265,000 1,743,600 4,008,600 2008 2,415,000 1,591,800 4,006,800 2009 2,595,000 1,430,000 4,025,000 2010 3,170,000 1,256,100. 4,426,100 2011 3,390,000 1,037,400 4,427,400 2012 3,625,000 803,500 4,428,500 2013 3,875,000 553,400 4/,28,400 2014 4.145,000 286,000 4,431,000 Totals $ 44,975,000 $ 41,283,600 $ 86,238,600 Bonds Dated: July 1,1991 Originalissue Amount: $47,785,000
- Principal Due
- October 1, beginning 1991 i Interest Due: April 1 and October 1 of each year, beginning 1991 Optional Redemption for B Bonds maturing on or After October 1,2001 Redemption Price October 1,1999 to September 30,2000 One Hundred and Two Percent October 1,2000 to September 30,2001 One Hundred and One Percent October 1,2001 and thereafter One Hundred Percent l Security: The Series 1991B Bonds are payable from and secured by a lien on and pledge of (i) money in certain of the funds and accounts established under Resolution No. 90-R-0052 of the City, as amended and supplemented (the " Resolution"), (ii) the Net Revenues of the City's Utility System, (iii) the Gross Revenues of the City's Stormwater Drainage system and (iv) certain other amounts (the " Pledged Revenues," as defined herein) all as more fully defined and described herein under the heading "THE SERIES 1991B BONDS
- The lien of the Series 1991B Bonds on the Pledged Revenues is on a parity with the lien thereon of the City's Consolidated Utility Systems Revenue Bonds, Series 1991 A.
t Bond Ratings: Moody's Aa, Standard and Poor's AA-l-18 4
_..__m___ _ _ _ _ . _ . _ _ _ . _ . _ _ _ _ _ . . . _ _ _ _ . _ . . _ _ _ _ _ ___ __.____ _, CITY OF TALLAHASSEE, FLORIDA DEMOGRAPHIC STATISTICS For the Years Indicatzd .
. i Water (2)(3) j (1) Electric Consumed Gas Used (2) Leon County Retail e Estimated Airline KWH Used (Gals) (Cu. Ft.) Housing School Sales Year Population Passengers (000's) (Millions) (Millions) Units Enrollment (000's) 1984 108,341 311,739 1.296,268 6,209.90 1.330.499 45,985 22,279 827.446 1985 110.579 284,899 1,336,212 6.124.90 1,293,902 47.256 22,823 891,837 .
< 1986 113,746 354,098 1.419,245 7.983.50 1.285,008 48,944 23.911 938,817 ! 1987 116.287 413.242 1,556.543 7.031.30 1.385.865 50.384 24,508 1,035,261 1988 118,367 430,045 1,676,050 7.641.20 1,447,084 51,643 24,917 1,157.884 1989 122,333 434,859 1.756.912 6,635.10 1,311,770 53.749 26,404 1,237.572 j 1990 124,773 456.607 1,921.683 8.495.70 1,440,811 55.455 27.241 1,335,603 , 1991 127.100 437,444 2,049.242 8.298.60 1,409,379 56,276 28,432 1.423,666 t 1992 129.258 433,686 2,156,653 8,950.00 1,565,396 57.398 29.186 1,663,321 ; 1993 132.036 427,225 2,018,551 8,397.10 1,560,133 58.735 28,143 N/A t 5 Source: City Records
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U. S. Census Bureau and Tallahassee-Leon County Planning Department j (1) (2) Sales. Marketing and Management, calendar year f;gures j (3) Leon County Statistics i N/A - Not Available i Year Number of Labor Force Number of Employed Number of Unemployed Unemployment Rate i j 1984 46.361 43,924 2,437 5.3 percent i 1985 47.484 45,068' 2,416 5.1 percent 1986 53.856 51,442 2.414 4.5 percent l 54,524 2,414 4.2 percent 1987 56.938 l 1988 58.342 56,117 2,225 3.8 percent l 60,640 57,636 3,004 5.0 percent l 1989 1990 62,837 59,817 3,020 4.8 percent 1991 65.378 62,271 3.087 4.7 percent l 1992 67.363 63,736 3.627 5 4 percent [ ! 1993 81,400 77.581 3.819 4.7 percent 4 Source: Florida Department of Labor and Employment Security l 4
CITY OF TALLAHASSEE, FLORIDA CONSTRUCTION, BANK DEPOSITS AND PROPERTY VALUES Last Ten Fiscal Years Commercial Pesidential Construction (1) Construction (1) Bank Deposits (2) Property Value (3) Fiscal Number Number Commercial Savings and Year of Units Value of Units Value Banks Loan Assn. Commercial Residential Agricultural Non-taxable l i 1984 135 44,388.000 1,603 51,962.100 720,167,000 523,810,000 724,305,700 2.319,211,700 311,709,500 1,060,997,800 1985 124 33,821,000 938 35,480,300 863,354,000 509,709,000 782,546,600 2,493,994,900 317.633,400 1.066,997,600 1986 142 42,275,100 840 33,155,600 957,867,000 514,802.000 866,704,500 2,623,318,000 335,644,600 1,064,954,700 1987 139 39,044,300 1,203 46,671,400 975,909.000 496,238,000 955,929,700 2,731,296,700 344,888,500 2,396,377,400 1988 157 63.205,500 1,808 61,681,100 1,170,709.000 465,877,000 1,031,763',900 2,884,666,500 346,221,300 2,394,407,700 i 1989 151 49,577,900 2,250 86,374,600 1,331,064,000 451,102,000 1.132,533,900 3,116,990,100 388,806,800 2,428,351,200 l 1990 89 49,498,200 1,071 68,715,500 1,279,945,000 460,247,000 1,198,182,200 3,388,255,100 401,025,700 2.462,394,600 l 1991 38 16,906,900 727 41,433,100 1,305,279,000 481,108.000 1,216,844,200 3,719,398,300 404,344,100 2.425,544,900 i l 1992 40 27,667,900 1,247 73,476.434 1,533,476,000 278,667,000 1,227,753,200 3,902.819,500 424,784,100 2,439,166.100 i 1993 30 14,895,500 1,278 86,070.234 1,607,316,000 260,059,000 1,261,946,700 4,312,987,400 414,790,600 2,491,456,300 i i i (1) Source: Tallahassee-Leon County Planning Department j (2) Source: Florida League of Financial Institutions; includes deposits tJr entire Leon County, amount for 1993 based upon June 30. - (3) Source: Leon County Property Appraiser for entire Leon County
CITY OF TALLAHASSEE, FLORIDA PRINCIPAL TAXPAYERS September 30,1993 Assessed Valuation Percentage Tangible of Total Real Personal Assessed Taxpayer Property Property Total Valuation Central Telephone.. .$ 8,272,000 $ 109.014,307 $ 117,286,307 1.7 Talquin Electric.. 1,485,100 45,228,222 46,713,322 0.7 Govemor's Square Mall.. 32.238,200 -- 32.238,200 0.5 Tallahassee Mall 25,403,200 -- 25,403,200 0.4 Koger Properties.. 18,873,900 -- 18,873,900 0.3 Tallahassee Community Hospital. 9,264.900 6,750,194 16,015,094 0.2 Northwood Mall.. 15,275,700 -- 15,275,700 0.2 Comcast Cable.. 645,100 12,070,777 12,715,877 0.2 Winewood Office Park.. 11,466,100 -- 11,466.100 0L Precision Engine Products . 2.656.500 8.714.820 11.371.320 0.2 Total $ 125.580.700 $ 181,778,320 46
$J07.359.020 Source: Leon County Property Appraiser l
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- t l CITY OF TALLAHASSEE, FLORIDA i !
- SCHEDULE OF INSURANCE IN FORCE September 30,1993 -
l l Estimated { Policy Annua! ! hmLCgyerage and Insurance Comoany Policy Number Expiration Detads of Coverage Limits Prerraum , i-LIABILITY: ; , Self-insured. ....--- ... ..... N/A MA Excess Auto /Generat Liabihty $3,000.000 Funded Trust ; LloydNarious Remsurers .. AIE2727801 9/30S4 Airport Laabdary $100.000.000 538.500 l l Self-insured. .. .. . , N/A N/A Primary Auto / General Liability $100,000/200.000 Funded Reserves Self-insured.. N/A N/A Police Professional $100.000/200.000 Funded Reserves ! i ! 4
- 1 FIRE AND EXTENDED COVERAGE:
l Hartford Steam Boder . 942998409 9/30/94 Boder and Machinery $150.000.000 5249.440 Royal SurplusNanous .. ... KHD303464 9/3064 Utthty Property /Boder and Mactunery Comprehensive All-Risk $647.690 , 1 r Fireman's Fund.. . . MXF80312180 9/30 S 4 General Govemment Property Comprehensive All-Risk 5127.400 t U I HEALTHCARE: l Self-insured., .. . _ _ N/A N/A Employee Health Insurance 580.000 Fund Reserves l Standard Insurance Company . LF S8054801 11/1/93 Specific Stop-Loss $1.000.000 570.039 I ! i i j ACCIDENTAL DEATH: ! Home insurance _.. GTA-10349 9/30/95 Statutory and Accadental , Death (Firemen and Pohcemen) 550.000 or $75.000 531,793 l. i WORKERS' COMPENSATION: 1 National Union Fire - 4153634 9/30 S 4 Excess Workers' Compensation 510.000.000 excess of 573.007 i
$500.000 SIR per incadent ,
t i Self insured... . .. N/A N/A Primary Workers' Compensation 5500.000 Funded Reserves 3 1 4 i PUBLIC OFFICIALS BOND- i 1 . j Fidelity & Deposit PEB KO5312 and j RN4618176 9/3064 Employee Bonds 51.000.000/5100.000 54.291 i i
CITY OF TALLAHASSEE, FLORIDA MISCELLANEOUS STATISTICAL DATA September 30,1993 Date of incorporation . 1825 Terms of Office: Date First Charter Adopted.. . 1825 Mayor- One Year (Elected by the Commission) Date Present Charter Adopted . . . . 1919 Commissioners - Four Years Manager- Appointed by Commission Form of Government: Commission-Manager Average Annual Temperature . .. 67.2 Degrees Commission Composed of: Mayor and Four Commissioners Average Annual Rainfall.. .. 64.60 inches Area.. - 80.24 Square Miles MUNICIPAL UIILIIIESand_SEfLVICES Electric System: Water System: Generating Plants... 3 Miles of Water Mains 740 Generating Capacity (KW) . . . 490.000 Daily Average Consumption (MGD) . .. 25 Net System Energy Generated (KWH).. . . 1.430.452.844 Plant Capacity (MGD).. - 64.0 Average Number Residential Customers.. .. 67.848 Number of Service Connections. . ., 56.738
- Average Residential Monthly Bill.. - . . . . $86.32 Deep Wells -.. . . . . 25 3 Miles of Transmission Lines.. . 184 Primary Distribution Sub-System Capacity (KVA).. 730.000 Square Miles of Service Area.. . . . . 219 Sewage System:
Number of Street Lights . . .._.. . 13.065 Miles of Sanitary Sewers-- .. . 553 91 Number of Lift Stations.. 73 Gas System: Daily Average Treatment (MGD) . . - 17.10 Miles of Gas Lines.. ... . 428 Maximum Capacity of Treatment Plants (MGD) . 32.06 Daily Average Consumption (MCF).. . . . . . 4.274 Number of Disposal Plants.. - - . . . . . . . . 2 Plant Capacity (MCF). . _ .. 4,000 Number of Service Connections.. . _ 46.808 l Number of Service Connections.. . .. . 11,792 Parks and Recreation: Police Protection: Community Centers and Speciality Centers.. .. 9 Number of Employees.. .. .. . . . . 452 Summer Playgrounds and Camps..._. .. . 13 Number of Vehicular Patrol Units.. . 255 Athletic Fields.. _. .. 138 Number of Law Violations: Golf Courses - . .. ... 2 Physical Arrests.. .. . .. 5.182 Swimming Pools - . . . .._ 7 Traffic Violations.. . . . . . .
.. 19.663 Park land Acreage..._.. .-
1.825 Parking Violations.. S85.528 Parcours Trails . . 5 Tennis / Racquetball Courts. -- . 70 Gymnasiums, Center Sites -- 6 Gymnasiums. School Sites 12
CITY OF TALLAHASSEE, FLORIDA MISCELLANEOUS STATISTICAL DATA (Continued) Community Facilities Transportation: Education: Airline, Bus Line, and Rail Services Number of Public Schools . .. 35 Number of Public School Instructors . .. 1,923 Communications: Number of Public School Students,(PK-12)., 28,143 Newspapers, Radio Stations. Television Stations. Number of Vocational-Technical Schools . . . . 1 Cable Television and Telephone Service Number of Community Colleges.. . 1 Number of Universities . . . .. 2 Culture, Recreation, and Health: Number of College-level Instructors . - 2,254 Conference Center, Civic Center, and Theaters Number of College-level Students.. 38,548 Seating Capacity . . . . .. . 23,142 Museums , . ._ 3 Major Annual Events: Major Libranes.. . . . . . . . _ .. . . . 8 Springtime Tallahassee Festival Skating Rinks.. .. . .. .. 2 Fourth of July-Celebrate America" Golf Courses.. . 6 North Florida Fair T Hospital Beds .. . . 951 Market Days Winter Festival
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' %, _g e CITY OF LEESBURG i COMPREHENSIVE ANN ~UAL i FINANCIAL REPORT Fiscal Year Ending September 30, 1993
l 1 I ) I J l i l i l . 1 4 Comprehensive Annual Financial Report ! City of Leesburg, Florida
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For thefiscal year ended September 30,1993 j with Report ofIndependent Certified Public Accountants h j l l 1 i Prepared by: James A. Williams, CPA Finance Director
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J l 1 1 ) i t i l Introductory Section 1 i e 1 I i l 1 I i l i 4 ) i ) 1 i 4; 1 l } i _ _ _ _ _ _ _ _ __ _ _ _ _ _ . . . _ _ _ _ _ . . . . _ . _. .
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l l l City of Leesburg, Florida Comprehensive Annual Financial Report For the fiscal year ended September 30,1993 l Mayor C. Robert Lovell Mayor - Pro - Tem David L. Connelly i City Commission C.J. Knowles i Charles C. Strickland Sanna Henderson City Manager Finance Director Rex Taylor James A. Williams, CPA City Attorney City Auditors R. Dewey Burnsed Ernst & Young i
I l I l 1 1 1 l l 1 City of Leesburg, Florida Comprehensive Annual Financial Report For the fiscal year ended September 30,1993 Table of Contents Introductory Section l Pri n c i p al Ci t y O ffi c i al s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i Tab l e o f C o n t e n t s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i1 - vi Le tte r o f Tran s mi t t al . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 - 6 Organization Chart . . . . . . . . . . . . . . . . . . . . .................................................................7 Certificate of Achievement . . . . . . . . . . . . . . . ..............................................................9 Financial Section Report of Independent Certified Public Accountants. . . .. . . . . . .. . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . I 1 l General Purpose Financial Statements Combined Balance Sheet - All Fund Types and Account Groups............... ..... . 14 - 17 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types..... .. .......... ..... ..... . .... ... I8 - 19 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual- All Budgeted Govemmental F u n d Ty pe s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .... . . ... . .20 - 21 Combined Statement of Revenues, Expenses and Changes in Retained Earnings / Fund Balances - All Proprietary Fund Types and Pension Trust Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .... ... . .. .. ......22 Combined Statement of Cash Flows- All Proprietary Fund Types..... ... ..... .........23 Notes to Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 - 57 11
l l City of Leesburg, Florida Comprehensive Annual Financial Report ' For the fiscal year ended September 30,1993 Table of Contents j Required Supplementary Information Revenues by Source - Expenses by Type - Pension Trust Funds. ................... 60- 61 Pension Benefit Obligation Information - Pension Tmst Funds ............. ...... .......... 62 1 Combining and Individual Fund and Account Group Statements and Schedules General Fund B al anc e S h ee t . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 l l Statement of Revenues, Expenditures and Changes in Fund l Balance - Budget a n d A c t u a 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 5 l S c hedu1e of Re venues - B udget and Actual.. ...... ........................... .. ............ 66 Schedule of Expenditures - Budget and Actual- By Departmeni.............. ....... ..... 67 Special Revenue Funds l l Combining B alance Sheet . . . . . . . . . . . . . . . . ............................................70 Combining Statement of Revenues, Expenditures and ; Changes in Fu nd B alances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71 Statement of Revenues, Expenditures and Changes in Fund B alance - B udget and Actual - Housing Assistance Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 Statement of Revenues, Expenditures and Changes in Fund B alance - Budget and Actual - S tormwater Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 3 iii
I City of Leesburg, Florida J Comprehensive Annual Financial Report For the fiscal year ended September 30,1993 4 i, Table of Contents Combining, Individual Fund and Account Group Statements and Schedules (continued) Enterprise Funds Combining Balance S heet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 - 79 ! Combining Statement of Revenues. Expenses and Changes in Retained Earmng s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .}}