ML20082Q321
| ML20082Q321 | |
| Person / Time | |
|---|---|
| Site: | Crystal River  |
| Issue date: | 09/30/1994 |
| From: | TALLAHASSEE, FL |
| To: | |
| Shared Package | |
| ML20082Q295 | List: |
| References | |
| NUDOCS 9504280152 | |
| Download: ML20082Q321 (205) | |
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City ofTallahassee, Florida 1
COMPREHENSIVE ANNUAL FINANCIAL REPORT I adlf%u.
C ~Y CF TA_AASSEE For The Fiscal Year Ended September 30,1994 1
" Florida's Capital City" l
l COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE CITY OF TALLAHASSEE, FLORIDA FOR THE Fiscal Year Ended September 30,1994 i
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CITYOF TALLAHASSEE PREPARED BY THE l
Department of Finance l
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CITY OF TALLAHASSEE, FLORIDA l l
COMMISSION-MANAGER FORM OF GOVERNMENT CITY COMMISSION PENNY SHAW HERMAN, Mayor SCOTT MADDOX, Mayor Pro Tem STEVE MEISBURG, Commissioner DEBBIE LIGHTSEY, Commissioner RON WEAVER, Commissioner CITY MANAGER Steven C. Burkett l l
l CITY AUDITOR CITY ATTORNEY ,
1 Ricardo Fernandez, CPA James R. English i l
I DIRECTOR OF FINANCE CITY TREASURER-CLERK Philip F. Inglese, CPA Robert B. Inze-CONTROLLER ACTING ASST. DIRECTOR OF FINANCE Johnny F. Session, CPA Richard G. Feldman, CPA l
INTRODUCTORY SECTION l
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CITY OF TALLAHASSEE, FLORIDA COMPREilENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED SEPTEMBER 30,1994 TABLE OF CONTENTS Pelf L INTRODUCTORY SECTION A-1 Table of Contents A-5 Letter of Transmittal i A-17 Government Finance Officers Association Certificate of Excellence i A-18 City of Tallahassee Organization Chart A-1g Listing of City of Tallahassee Officials II. FINANCIAL SECTION B-1 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 Eamings/ Fund Balances - All Proprietary Fund Types and Similar Trust Funds B-12 Combined Statement of Cash Flows - All Proprietary Fund Types and Similar Trust Funds B-16 Notes to Financial Statements COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP-STATEMENTS AND SCHEDULES:
GOVERNMENTAL FUNDS GENERAL FUND:
C-1 Balance Sheet C-2 Schedule of Revenue C-4 Schedule of Expenditures C-11 Schedule of Transfers SPECIAL REVENUE FUNDS:
C-13 Combining Balance Sheet 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 l
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CITY OF TALLAHASSEE, FLORIDA TABLE OF CONTENTS (Continued)
Etat ENTERPRISE FUNDS D-2 Combining Balance Sheet ,
D-6 Combining Statement of Revenues, Expenses and Changes in Retained Earnings D-10 Combining Statement of Cash Flows ELECTRIC FUND: i D-14 Dalance Sheet '
D-16 Statement of Revenues. Expenses and Changes in Retained Earnings D-17 Statement of Cash Flows D-18 Schedule of Operating Expense D-19 Regulatory Schedule of Operating Expense GAS FUND.
D-20 Balance Sheet ,
D-22 Statement of Revenues Expenses and Changes in Retained Earnings j D-23 Statement of Cash Flows ,
D-24 Schedule of Operating Expense D-24 Regulatory Schedule of Operating Expense SEWER FUND:
D-25 Balance Sheet D-27 Statement of Revenues, Expenses and Changes in Retained Earnings D-28 Statement of Cash Flows D-29 Schedule of Operating Expense D-30 Regulatory Schedule of Operating Expense WATER FUND:
D-31 Balance Sheet D-33 Statement of Revenues. Expenses and Changes in Retained Eamings D-34 Statement of Cash Flows D-35 Schedule of Operating Expense D-35 Regulatorf Schedule of Operating Expense AIRPORT FUND:
D-36 Balance Sheet D-38 Statement of Revenues, Expenses and Changes in Retained Eamings 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 d
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I CITY OF TALLAHASSEE, FLORIDA TABLE OF CONTENTS (Continued)
EkQt SOLID WASTE FUND:
D45 Balance Sheet D46 Statement of Revenues, Expenses and Changes in Retained Esmings D-47 Statement of Cash Flows D-48 Schedule of Operating Expense GOLF COURSE FUND:
D-49 Balance Sheet D-50 Statement of Revenues, Expenses and Changes in Retained Earnings l D-51 Statement of Cash Flows INTERNAL SERVICE FUNDS E-2 Combining Ealance Sheet E-4 Combining Statement of Rwenues, Expenses and Changes in Retained Earnings (Deficit)
E4 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 F-4 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 GENERAL FIXED ASSETS ACCOUNT GROUP G-1 Schedule of General Fir.ed Assets - By Sources G-2 Schedule of General F'.xed Assets - By Function and Activity G-3 Schedule of Changes in Genera' Fixed Assets - By Function and Activity GENERAL LONG-TERi4 DEBT ACCOUNT GROUP H-1 Statement of General Long-Term Debt A-3
i CITY OF TALLAHASSEE, FLORIDA TABLE OF CONTENTS (Continued)
Etaf l l 111. STATISTICAL SECTION (Not Covered By Auditor's Report) 11 Comments on the Statistical Section 1-2 General Government Expendrtures by Function and Transfers - Last Ten Fiscal Years I l-2 General Revenues by Source and Transfers - Last Ten Fiscal Years l l-3 Property Tax Levies and Collections - Last Ten Fiscal Years I l-4 Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years l-5 Assessed Valuations, Mi!! age and Taxes Levied and Collected - Last Ten Fiscal Years l
1-6 Property Tu Rates - Direct and Overlapping Governments - Last Ten Fiscal Years 1-6 Special Assessment Collections - Last Ten Fiscal Years l l-7 Computation of Legal Debt Margin I-8 Computation of Direct and Overlapping Debt l-9 Summary of Debt Service Requirements - Capital Bonds, Series 1989 l-10 Summary of Debt Service Requirements - Capital Bonds, Series 1993A l-11 Summary of Debt Service Requirements - Capital Bonds, Series 19938 1 12 Summary of Debt Sennce Requirements - Junior Lien Electric Revenue Bonds, Series 1992A l-13 Summary of Debt Service Requirements - Electric Refunding Revenue Bonds, Series 1992A i I
1-14 Summary of Debt Service Requirements - Electric Revenue Bonds, Series 1992B l-15 Summary of Debt Service Requirements - Airport Revenue Bonds, Series 1988A l-16 Summary of Debt Service Requirements - Consolidated Utility Revenue Bonds, Series 1991A l-17 Summary of Debt Service Requirements - Consolidated Utiltty Revenue Bonds Series 19918 l-18 Summary of Debt Service Requirements - Consolidated Utility Revenue Bonds, Series 1994 l-19 Summary of Debt Service Requirements - Airport Subordinated Revenue Bonds, Series 1994A l-20 Demographic Statistics - For the Years indicated 1-21 Schedule of insurance in Force 1-22 Principal Taxpayers ;
l-23 Construction Bank Deposits and Property Values - Last Ten Fiscal Years l l-24 Miscellaneous Statistical Data j l
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December 14,1994 Thi Honorable Mayor-Commissioner, Commissioners, cnd City Manager City of Tallahassee, Florida Ltdas and Gentlemen:
Th3 Comprehensive Annual Financial Report of the City of Tallahassee, Florida, for the fiscal year ended September 30,1994, is submitted herewith pursuant to Florida Statutes, Chapter 11, Section 45, and Chapter 10.550 and 10.600 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 extema! 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, tnd the completeness and f airness of the presentation, including all disclosures, rests with the City. We believe the dite, as presented, is accurate in all material aspects; that it is presented in a manner designed to f airly set forth the fin:ncial 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 hive been included.
The Comprehensive Annual Financial Report is designed to meet the needs of a broad spectrum of readers and is przsinted in three sections: introductory, financial, and statistical. The introductory section includes the table of contents, this transmittal letter, 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 Ming of City of Tallahassee officials. The financial section includes the general purpose financial statements, the r smbining and individual fund end account group financial statements and schedules, and the independent aur tor's report on the financial stzttments and schedules. The statistical section includes selected financial and der ographic information, generally pres 3nted on a multi-year basis.
The Reoortina Entity The City of Tallahassee was incorporated in 1825, twenty years before Florida was admitted to the Union. In 1919, Tell hassee was granted a new City Charter by the State Legislature authorizing our present Commission Manager form of govemment.
This report includes all funds, account groups, organizations, authorities, 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 obligation to fund any deficits that may occur. The City provides a full range of municipal services. These services include public safety (police and fire), construction and maintenance of streets and sidewalks, stormwater min:gement, solid waste collection, recreation, public improvements, planning and zoning, general administrative services, four utilities (electric, gas, water, and sewer), a mass transit bus system, and a regional airport.
Accountinglystem and Budaglarv Control The City's accounting records for general govemmental operations are maintained on a modified accrual basis, with th3 revenues being recorded when available and measurable, and expenditures being recorded when the services or goods are received and the liabilities are incurred. Accounting records for the City's utilities and other enterprises are miintained on the accrual basis. Budgetary control is maintained at the department level. Purchase orders which would result in an overrun of balances are not released until additional appropriations are made available. Open encumbrances are reported as reservations of fund balance at September 30,1994.
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In developing and altering the City's accounting system, consideration is given to the adequacy of intemal accounting l controls. internal accounting controls are designed to provice reasonable, but not absolute, assurance regarding the safeguarding of assets against loss through unauthonzed 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 derived; and the evaluation of costs and benefits requires estimates and judgments by management. All internal control evaluations occur within the above framework. We believe the City's intemal 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 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. Computerized applications are also reviewed to determine that they have been developed according to the pohcies, procedures, standards, and guidehnes of the City.
General Govemmental Functions The General Fund encompasses the general governmental functions of the City not required to be accounted for in other funds. The following summary shows actual revenue to support these functions for the current fiscal year and the change from the prior fiscal year:
increase Revenues and Other Percent (Decrease)
Financino Sources Amount pf Total From 1993 Taxes $ 2 5,261,000 25.61 $ 2,000,000 Licenses & Permits 2,669,000 2.71 435,000 intergovemmental Revenues 10,129,000 10.27- (578,000)
Charges for Services 11,563,000 11.72 618,000 Fines & Forfeitures 1,387,000 1.41 66,000 Miscellaneous & Interest 1.243.000 1.26 207.000 SUB TOTAL 52,252,000 52.98 2,748,000 Transfers in 46.376.000 47.02 629.000 TOTAL 698.628.000 100 00 s3.377.000 The City's pnncipal sources of local tax revenues are property taxes and pubhc service taxes. In fiscal years 1993 and 1994, 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 14.7 percent, representing $477.9 milhon in added taxable property. This increase is a result of ,he t reassessment of the property values by the County Property Appraiser. Also it 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 $999 milhon over the last five years. Collection of property taxes increased by $782,000 over 1993 to $10.9 million.
Pubhc service taxes on electoc, 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 1,1994, is levied at 7 percent on purchases of intrastate telecommunications services. In 1994, total revenue from these taxes reflected an increase of $1.3 milhon equivalent to a 11.0 percent increase over 1993. This growth is attnbuted 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 $1.0 milkon of the increased revenues from 1993 to 1994, and the remainder is attributed to increased utihty sales.
Charges for services increased $0.6 milhon, or 5.6 percent over 1993. The increase was attributable primarily to increases in the recovery of indirect cost charged to various City departments and capitahzed overhead due to increased project activity.
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The following summary shows the level of funds used in providing general governmental services:
Increase Expenditures and Other Percent (Decrease)
Financina Uses Amount Of Total From 1993 Expenditures:
General Govemment $ 13,533,000 13.85 $499,000 Public Safety 35,624,000 36.46 (175,000)
Transportation 9,539,000 9.76 365,000 Human Services 2,567,000 2.63 201,000 Economic Environment 672,000 0.69 (93,000)
Physical Environment 2,605,000 2.67 (6,000)
Culture & Recreation 8.234.000 S.43 544.000 SUB-TOTAL 72,774,000 74.48 1,335,000 Transfers Out 24.942.000 25 52 1.058.000 TOTAL USES $97.716.000 100 00 $ 2. 393.000 The increases in expenditures for govemmental services are generally attributable 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 pnmanly represent excess enterpnse rund revenues which legally may be used for general governmental purposes. Transfers Out are primanly used for debt service, underwnting the operations of certain funds, and capital projects. The General Fund acts as a cleanng fund and accordingly utilizes funds or transfers them to other funds for their respective purposes.
The City Commission adopted a financing policy that addressed the transfer of monies from the enterprise funds to the General Fund. The amount transferred is limited to the policy established for each enterpnse fund. Included in the Transfers Out is $12.6 million to intemally fund capital projects, which otherwise would have to be funded through bonds. This internal funding is in accordance with the City Commission approved Debt Management Policy. In 1994, General Fund sources were $912,000 over General Fund uses. At September 30,1994, the fund balance of the General Fund consists of $5.6 million with $2.4 million reserved and $3.2 million unreserved.
Soecial Revenue Funds Special revenue funds account for revenue from revenue sources which are legally restricted for specific purposes.
The combined fund balances of these funds for 1994 amount to $15,684,000. An analysis of sources and uses in tho special revenue f unds follows:
Changes in Sept. 30,1994 Fund Sources Uses Fund Balances Fund Balances Special Projects Fund 6 3,523,000 $ 4,938,000 $ (1,415,000) $ 6,821,000 Stormwater Management Fu. d 7,283,000 4,630,000 2,653,000 8,649,000 Law Enforcement Forfeiture Fund 88.000 139.000 (51.000) 214.000 TOTAL $ 10.894.000 $ 9.707.000 $ 1.187.000 $ 15.684.000 The Special Projects Fund is used to account for Federal, State, local and other revenues that are to be used for specific general governmental purposes. The major revenue sourre in this fund was the Federally funded Community Development Block Grant program which provided $2,054,000 to the City during 1994.
The Stormwater Management Fund was established to account for fees restricted for stormwater operating and capital !
costs. Total revenues, including interest earnings, collected for fiscal year 1994 were $7.3 million.
The Law Enforcement Forfeiture Fund was established to account for forfeitures as prescribed by Chapter 932 of the Florida Statutes. Appropnations from this fund can be made only for law enforcement purposes. Total revenues, I including interest earnings, were $73,000 f or fiscal year 1994.
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i Qaoital Projests Funds Capital Projects Funds are used to account for proceeds from general revenue bond issues, local option sales and gas i tax collections, transportation impact fee collections, and internally generated funds used to acquire or construct major capital facilities.
An analysis of sources and uses in the capital projects fund follows:
Changesin ' Sept.30,1994 Fund Sources ,
Uses Fund Balances _EundEalances Capital improvement $16,151,000 $ 15,397,000 $ 754,000 $42,730,000 Capital Bonds Construction 831,000 8,518,000 (7,687,000) 13,726,000 Transportation impact Fee 1,371,000 777,000 594,000 5,220,000 Local Option Sales Tax 11,372,000 3,344,000 8,028,000 34,958,000 Local Option Gas Tax 3.197.000 2.817.000 380.000 1.534.000 TOTAL HL922 QQQ 13DJfULQQQ 1 2.OffLQQQ M 8.168.000 1
The sources of funds for the Capital improvement Fund in 1994 were primarily a result of $13.6 million of Operating Transfers in for various capital projects. The use of funds primarily consisted of capital outlay expenditures of $9.2 million of Tra,uportation, Ger eral overnment, and Culture and Recreation projects. Fund balance primarily consists of $36 million reserved or er v .ibered for projects and $5.7 million unreserved /undesignated available for future projects.
The Capital Bonds Construction Fund's primary source of funds in 1994 were primarily a result of $754,000 of Interest Earnhgs. The majority, $7.8 million, of capital uutlay expenditures were for Transportation projects of which 6.1 million was expensed for the mixed use parking garage. $13.6 million of fund balance is reserved or encumbered for projects.
The Transportation impact Fee Construction Fund's primary source of funds was $1.1 million in Charges for Services.
Transportation pryjects accounted for the $777,000 of capital outlay expenditures. The current year Fund balance consists of $1.4. Cion reserved or encumbered projects and $3.8 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 local option sales tax on all transaction's subject to the State sales tax.
The tax is to be spist between the City and Leon County based upon the distribution 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 expenditure or fixed capital costs associated with the construction, reconstruction or improvement of public f acilities which have a life 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 $9.8 million from the City's share of the local option sales tax which represents a 9% increase over 1993 receipts. At year end, $26.6 million of fund balance is reserved or encumbered for projects, and $8.3 million unreserved /undesignated fund balance is available for future projects.
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 an interlocal agreement whereby a levy of four ents was approved and is to be split on an equal 50-50 percent basis. In June,1987, the levy was increased by an additional two cents. The tax is due to expire September 30, 2015. The tax can be used only for transportation purposes. Revenue was $3.1 million from the City's share of the local option gas tax, as compared to $3.2 million in 1993. $1.5 million is reserved or encumbered for projects.
At the end of the fiscal year, completed projects, except for infrastructure assets, are capitalized in the General Fixed Assets Account Group. During 1994, $13.7 million of such assets was added to General Fixed Assets. As of September 30,1994, there were projects with an authorized amount of $46 million with $20.8 million expended, in progress.
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Enterorise Funds Enterprise funds are financed and operated in a manner similar to a private business enterprise where the intent of the goveming 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 periodic determination (,f revenues earned, expenses incurred, and/or ret income is appropriate for ca;, ital maintenance, budget policy, management contre!, accountability, or other purposes. The City accounts for its Electric, Gas, Water, Sewer, Airport, Tallahas,see Transit, Solid Waste, and Golf C;urse Funds as enterprise operations.
atina income (Lossi increase (Decrease) 1994 1993 frqm lj2l Electric $49,491,000 $ 52,251,000 $ (2, ',0,000)
C:s 2,805,000 2,648,000 "57,000 l W;tir 5,981,000 6,531,000 (5:,0,000) 1 Sewer 2,549,000 2,342,000 207,000 j Airport (118,000) (17,000) (101,000) ;
Tcilahassee Transit (6,155,000) (6,361,000) 206,C 00 l Solid Waste 633,000 511,000 122,000 )
Golf Course (504,000) (605,000) 101,000 i Electric Fund l The $2.8 million net decrease in Operating income from 1993 to 1934 is primarily due to a 3.4 percent increase in opirating expenses. The increase in operating expenses is a result of increases in personal services and contractual expenses.
Gas Fund The $157,WO net irerease in Operating income from 1993 to 1994 is primarily due to a rate increase of 6.9 percent l in 1994, of f set by an increase in contractua! service and uther expenses.
Water Fund The $550,000 net decrease in Operating income from 1993 to 1994 is primarily due to a decrease in residential and commercial sales due to excessive rain in 1994.
Sewer Fund The $207,000 increase in Operating bcome from 1993 to 1994 is tne net result of an 3.0 percent rate increase in 1994. The increase in operating income is reduced by an increase in operating expenses, such as personal services, mitinal and supphes, and other expenses.
, Airoort Fund i
The increase in the Operating Loss of $101,000 from 1993 to 1994 can be pnmarily attributed to a 9% increase in cperating expenses. The increase in operating expenses is a result of increases in personal services, contractual, and ottct expenses.
Tallahassee Transit F3ng The City-owned bus system reflects a net decrease in Operating Loss of $206.000 from 1993 to1994 as a result of a r; duction in contractual and other operating expenses. Each year the operating loss, exclusive of depreciation and cipital purchases, is partially funded by a Section IX operating grant from Federal Transit Administration. In addition, the General Fund subsidized the Tallahasse: Trcr.ot Fund in the amount of $6,863,000 for the 1994 fiscal year.
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f, Solid Waste Fund .
The $122,000 net increase in Operating income from 1993 to 1994 is primanly due to an increase in residential and commercial sales.
Gott Course Fund The ?101,000 net decrease n operating loss is primarily due to a 9 percent decrease in operating expenses. The General Fund subsidized the Golf Course Fund in the amount of $867,000 dunng the 1994 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 basia. The City of Tallahassee accounted for its Aeading, Billing, and Collection activities, information Systems Services, Accounting, Central Stores, Purchasing, Garage, Human Resources, Pension Administration, Risk Management, Employee Healthcare, and Communications activities as internal service funds in 1994. 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 intemal Service Fund The purpose of the fund is to provide ,
interim and long term financing to other funds of the City.
Fiduciary Fungs 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.
&!yion 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 liabilities of the plan based upon actuarial valuations. Employees participate in both a defined benefit article -
and a defined contribution article. At September 30,1994, the City's pension plan had total assets of $330,323,000.
In order to obtain the highest possible yield on pension assets, substantially all of the assets are managed via contracts with pnvate investment companies. Further details concerning pension expenses, vested benefits, and actuarial assumptions are included in the notes to the financial statements.
Excendable Trust Funds Expendable trust funds consist of the following:
. Downtown improvement Authority Fund used to account for monies appropnated by the Downtown t 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 heterlocal agreement (joint venture) between the City and the County.
I These funds have total assets of $19,620,000 at September 30,1994.
Nonexcendable Trust Fund - Nonexpendable trust funds consists of U1e following:
. The Cemetery Perpetual Care Trust Fund was established pursuant to Commission action to provide for the ;
perpeival maintenance of the City's cemeteries.
. The Scholarship Fund was established pursuant to Commission action to provide scholarships for the l Partners in Excellence Program in the Leon County School System. l These funds have total assets of $5,403,000 at September 30,1994.
Aaency Fund - The City offers its employees two deterred compensation plans created in accordance with Internal Revenue Code, Section 457. These plans are administered by the International City Management Association Retirement Corporation (ICMA) and Prudential insurance Company. The ICf.iA plan is closed for new employees; all new employees may only participate in the Prudential plan. This fund had total assets of $8,510,000 at September 30,1994. ,
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General Fixed Asset Account Grouc 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 thes!
Ossets be accounted for separately from the General Fund since they do not represent financial resources available f r expenditure. In accordance with generally accepted accounting principles, the City of Tallahasste does not recore depreciation in the General Fixed Assets Group of Accounts. As of September 30,1994, the City of Tallahassee 'ias
$110,168,000 of general fixed assets which were acquired from General Fund revenues, bonds, and gifts. As allowe('
by generally accepted accounting principles for local governments, roads, brid0es, curbs and gutters, streets and sidewalks, drainage systems, lighting systems, and similar assets that are immovable and of value only la the governmental unit are not recorded as general fixed assets.
Debt Administration ,
At September 30,1994, the City had outstanding $27,465,000 of Capital Revenue Bonds, payable from specific general fund revenue sources other than ad valorem taxes; $114,938,000 of Electric Revenue Bonds, payable from revenues of the Municipal Electric System; $85,685,000 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
$16,865,000 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 Govemmental Financing Commission (SSGFC) in the amount of $46,665,C00; these loans are non-revenue specific with a covenant to budget and appropriate non ad valorem revenues.
During fiscal year 1994, the City issued $37,725,000 Consolidated Utility System Revenue Bonds, Senes 1994, to accomplish e.ertain improvements to the City's Utility System. In addition, $ 5,235,000 of Airport System Subordinated Revenue Bondr, Senes 1994A(minibond) were issued to construct certain improvements to the Airport System. The City has defeased certain general revenue, municipal 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. During 1994, $20,605,000 Capital Refunding Bond-Senes 1984 were advance refunded by obtaining a loan of $24,965,000 from Sunshine State Governmental Financing Commission. This innovative refinancing will reduce the City's annual General Government debt service payments for the next 13 years; an estimated savings of $3.7 million.
All requirements mandated by bond covenants have been met. Actual debt service coverage as compared to required ,
debt service coverage and ratings assigned to the City's bonds by independent nationally recognized agencies are useful indicators for evaluating the City's debt position. The City's indicators are, as f ollows:
. Debt Service Coveraae Debt service coverage demonstrates the City's ability 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 5.02 1.50 Electric Revenue Bonds 6.11 1.40 Consolidated Utility System Revenue Bonds 5.20 1.50 Airport System Revenue Bonds 1.97 1.25 A-11
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i e Ratinos Ratings for the City's bonds are assigned by independent nationally recognized agencies. These ratings have a t significant influence in establishing the rate of interest expense the City must pay when the bonds are sold. !
Ratings for the City's debt have been consistently judged to be of good investment quality. Ratings by the f
' 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 j Capital Revenue Bonds 1993A and 1993B Aaa AAA l Capital Revenue Bonds 1989 A1 A+ !
Electric Refunding Revenue Bonds Aa AA-Electric Revenue Bonds Aa AA- l Consolidated Utility System Revenue Bonds: 1 Series 1991 A Aaa AAA t Series 1991B Aa AA- {
Series 1994 Aa AA- 1 Airport System Revenue Bonds Aaa AAA I Airport System Subordinated Revenue Bonds Aa AA- !
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Cash Manaoement Prooram f 1 i The City Charter relative to investment of idle City funds provides for the adoption of an investment policy, in f connection with the City Charter, the City Commission adopted an investment policy which provides a wide renge of securities from which to choose, including U.S. Treasury Securities, bankers' acceptances, commercial paper, various l government agencies and sponsored corporations, certificates of deposit, opea and term repurchase agreements, and {
corporate fixed income securities, These instruments provide great flexibility and diversity. The policy also establishes !
restrictions that require diversification of investment types and issuers, liquidity and matunty provisions, standards for i rating security issuers, and does not allow investments in derivatives. l 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 5.09 percent 7
effective yield during fiscal year 1994. ;
Risk Manaaement i
All insurance, except health, is administered through the Risk Management Program. The Program is designed to i provide financial protection for unforeseen accident losses through the combination of commercial and self-insurarce. l 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 areas of workers' compensation, general liability, police professional liability, l and automobile liability, in order to limit exposure, the City has purchased " excess coverage" for workers' l compensation. For other coverages where frequenc.y is low and potential losses are great (e.g., property and airport liability), the City transfers risk through the purchase cf insurance. Premiums in excess of claims charged to the various operating funds have been retained in the fund o 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. 4 l
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Perspectives 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 keep unemployment down. Of the work force, 5.0 percent were unemployed in 1994 as compared to the State's unemployment rate of 6.7 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 1994, as follows.
1991 762 1992 972 1993 1,074 1994 1,081 increases in construction, as reflected by the increases in building permits, means increases in consumer-based general revenues and utihty revenues and a boost to the local economy. The success of City Commission actions to bolster the economy it 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; authorizing industrial revenue bonds; maintain. g 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 1993 and 1994. The following is a comparison of millage rates for the fif teen largest Flonda cities for 1994 and 1995:
Q1y Population Rate 1994 Rate 1995 Miami 364,679 11.8 11.7 Tampa 282,848 6.5 6.5 St. Petersburg 239,701 8.7 8.4 Hialeah 195,923 7.3 8.3 Orlando 172,019 6.1 6.1 Ft. Lauderdale 148,743 5.6 5.6 Tallahassee 131,683 3.2 3.2 Hollywood 123,956 6.1 6.1 Clearwater 100,768 5.1 5.1 Miami Beach 95,160 10.6 9.1 Coral Springs 88,944 4.4 4.6 Gainesville 93,091 5.4 5.0 Cape Coral 81,339 5.8 6.3 Pembroke Pines 75,014 4.1 4.1 Pompano Beach 73,219 6.5 7.3 As indicated above, the City enjoys the lowest millage rate of the fif teen largest cities in Flonda for 1994 and 1995.
Tallahassee's low and stable millage rate should act as an incentive to economic growth and stabihty.
The following activities are currently underway or recently completed:
. The groundbreaking for the downtown development project Phase 1, the parking garage, of the ' Capitol Commons" project took place in early 1994. This Jowntown development plan is expected to encompass a 1,052 car garage, a 750 room hotel, a City Hall annex, the Odyssey Science Center, Flonda League of Cities Headquarters, other offices, and a pedestnan-oriented public plaza with retail activity. The City's project costs for this development will include the parking garage, City Hall annex, public plaza and a bandshell.
. The construction of a new $3.3 million municipally-owned animal shelter is to be completed in early 1996.
Replacement of the existing aging f acihty was necessary to satisf actonly meet the C#ty's current growth in animal population and to meet future demands.
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. The City has budgeted $10.2 milhon to purchase an 800 MHZ trenched 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. This project is anticipated to be completed in early 1997.
. The City anticipates funding various projects with future bond issues as follows: $16.7 million in Capital Bonds, including the Animal Shelter and Radio Communications Systems (discussed above); and $44 million to provide for various Electric system projects.
. The Tallahassee Sports Council, in conjunction with the Tallahassee Area Convention and Visitr's 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. In July 1994, The Tallahassee Tiger Sharks Hockey team was introduced to the City. The team is a member of the East Coast Hockey League. The Tiger Sharks will play 34 Home games at Tallahassee Leon Civic Center and 34 games away. Each of these events j provides the City with regional and national exposure and a positive economic impact.
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. In 1993, the Bntish Olympic Team selected Tallahassee as its training location for the 1996 Summer Olympics games to be held 'n Atlanta, Georgia. A
- British Olympic Courtyard" was dedicated in the park on the south side of City Hall that will include a monument and individual bricks with the name of every British Olympian. Through a joint cultural and educational program, Tallahassee will adopt the Bntish 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 lease with Aero Associates, an aerospace company, for the old airport terminal. In July 1994, Aero Associates received its first "Aerotiga", the general aviation aircraf t that Aero plans to build in Tallahassee under agreement with SWlE of Malaysia. An entirely new concept in general aviation design, the two-seater aircraf t has a number of unique features that are anticipated to be popular among the flying public. The process to eventually market and build the aircraf t in Tallahassee has three phases. Phase one will establish a more defined plan to market the aircraf t in the United States, phase two involves estabbshing a completion center in Tallahassee, and phase three will be an evaluation of the production process the Malaysians are currently developing to see if it would be feasible to manufacture the parts in the U.S. 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.
. In June 1994, the Continental Airline started providing services to the Tallahassee market. Similarly, Air South started providing services as of November 15,1994. The increase in the number of Airlines serving the area has a positive effect on the economy and helps to offer new jobs in Tallahassee. The Aviation Department pians for FY 1995 include projects for the covered overhang and elevator from the parking lot to the passenger terminal to provide disabled access as required by the Americans With Disabihties Act.
. Several new emergency vehicles were received by the Tallahassee Fire Department in 1994, including an Airmrt Rescue and Fare fighting unit that was the first of its kind to be placed in service anywhere in the we . The 3,000 gallon vehicle includes a unique independent suspension system allowing operation on va. Sus khds of terrain at the Tallahassee Regional Airport.
. In 1994, the City took an innovative approach to human service funding by awarding grants to three geographically based consortiums. The consortiums consist of a diverse group of social service agencies providing preve%on and intervention activities to families and children who are determined to be at risk of becoming involved in crime. From the $10 milhon allocated in 1993 for juvenile justice programs, the City vowed to assist with the implementation of the boot camp, matched federal funds for a community policing grant, supported the Juvenile Justice Council, and provided funds for human service, employment, and recreational activities targeted to at-nsk youth.
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. The City has projected to spend approximately $15 million over the next three years in order to replace a majority of the City's mass transit fleet. During FY 1993 and 1994, 37 basic system buses were put in service and another 18 basic system buses are programmed to be added to the fleet over the next three years.
The downtown trolley fleet will be modernized with three new trolleys scheduled for delivery in early 1995.
The Dial-A-Ride fleet will also have 12 of its 15 buses replaced in 1995 providing the City with one of the youngest transit fleets in the nation. The vehicle replacement program will produce significant savings in operating and maintenance costs in the long run, and provide better transportation services to citizens.
. In the spring and summer of 1994, at the request of Museum Art / Tallahassee (MA/T), the City Commission approved a revision to the visual arts museum project that involved the development of a smaller scale museum facility in the All Saints Neighborhood in a building of historical significance, formerly known as the Wahnish Cigar Factory. Subsequently, based on a successful referendum held on September 8,1994, the City Commission approved the release of the City's contribution of $1,000,000 for the project on or before September 30,1995, subject to MA/T's raising $2.55 million in capital funds to complete the project. On December 14,1994, the City Commission agreed to submit a extension request to the State to preserve the City's design grant moneys in order to give MA/T more time to look for an alternative site since in early December 1994 the negotiations to purchase the Wahnish Cigar Factory site were unsuccessful.
. On December 14, 1994, the City Commission approved an agreement which would annex the Southwood area containing approximately 6,000 acres. A state agency is currently reviewing the growth plans for the area and upon their final review the annexation will be formally completed. The City also approved the Urban Services Agreement with St. Joe Paper Company for the development of 4,000 acres of land in the Southwood property. The agreement includes significant donations of property to the City by the St. Joe Paper Company for water tank sites, sanitary sewer pumping station sites, electric substation sites,133 acres of parkland, and a fire station site.
. The City and County Commissions adopted an amendment to the joint Comprehensive Plan that sets out a bluepnnt for the development of 5,800 acres in the southeast portion of the community. This is 45 year plan for development that will eventually include over 27,000 residents, approximately 2,900 acres of community and recreational uses, and over 1,300 acres of open space. This development is anticipated to produce approximately 30,000 jobs at buildout. This amendment also requires that needed snfrastructure be planned for and included in the Transportation Element and Capital improvements Element of the joint Comprehensive Plan.
. The Resolution Trust Corporation (the "RTC") is in the process of disposing of a 189 unit Apartment complex along with 24 acres of adjoining undeveloped property. Pursuant to RTC policies, these units are first made available to public entities for low income housing. The City is currently discussing the acquisition of these units in conjunction with two not for profit corporations. The City is considering issuance of tax-exempt bonds of approximately $6,0 million on behalf of the not-for profit corporations to purchase the apartments secured solely by a mortgage on the units. These bonds would be issued pursuant to an indenture of trust between the City and a trustee, with the not for-profit corporations being solely responsible for the repayment of bonds, with no resulting liability on behalf of the City.
. 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 citaens 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 contntwns, and reduced reliance on electnc 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 f uture to enhance the financial stability of the government as a whole.
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Under the Florida Constitution, the State Legislature is the body responsible for determining the taxing authority that units of local government may have. The Legisldture has passed legislation providing the means for raising the necessary dollars at the locallevel. 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.
Independent 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 AcNevement for Excellence in Financial Reporting to the City of Tallahassee, Florida for its Comprehensive Annual Financial Report for the fiscal year ended September 30,1993. in order to be awarded a Certificate of Achievement, the City must publish an easily readable and ef ficiently organized comprehensive annual financial report, whose contents conform to program standards. Such reports must satisfy both generally accepted accounting pnnciples 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 eligibility 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 1,1993. In order to qualify 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.
Acknowledaments 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 like to thank the members of the City Commission for their interest and support in planning and conducting the financial operations of the City in a responsible and progressive manner.
Respectfully submitted, Philip F. Inglese, C.P.A.
Director of Finance A-16
. Certificate 0::
Acnievement
. :!or Excellence in Financial Reporting Presented to ,
! City of Ta aaassee,
- F oric a For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30,1993 1 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting.
vG 1, M ., J
, sut s President Executive Director l
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CITY OF TALLAHASSEE, FLORIDA ORGANIZATION CHART The People of Tallahassee l
City Commission l I I I City Attorney Treasurer Clerk City Manager City Auditor i .-
I I I Assistant City Deputy City Manager Man ent nager
& Budget I .
I Downtown Assistant to Energy Director --
Development the City -- Policy Electric Officer Manager Officer L
Director Public Director l Water & --
Police Chief
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Information Fire Chief --
Parks &
i Sewer Officer Recreation 1 _
Director Director Community Director .
DiMor Growth General Public -
Relations --
TalTran Works Management Officer Services 8T Director _
Coordinator C mmumty .--
D or Gas Planning Code Board Improvement Utility Relations i
D.Mor Director Director ~~
i Information Director Finance Sydem --
Aviadon Opport nity Services
CITY OF TALLAHASSEE, FLORIDA LISTING OF CITY OFFICIALS ELECTED OFFICIALS usyor.Commissioc.or . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Penny Shaw Herman May or Pro Tom Commission., .. .... .... . . ...... . .. ... .............. ...... .. ... .. .. .... ... .. Scott Maddox ;
Commissioner ... . . . . . . . . . . ... . ...... ... . . .. . .. . . . . . . . ... .. . .... ... ...... ...... . .. ..... D eborah A. Lights ay i Commissioner ............. ... .. . . . .... .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . ... Steve Melsburg Commissioner .. . . . . . . . . . .. . . . . . .. . . . . . . . . . . . . . . . . . . .. . .. . . . . . . . . . . . . . . . . . . . .. .. . . . R on Weav er APPOINTED OFFICIALS City M enager.. .. .. . .. . .. . . . . .. . .. ... . . . . . . . ..... . ... . . . . . . . . . . . . . . . . . . . . . . ... ....... .. Steven C. Burkett r
City Treasurer-Clerk .... . .. ... .... . . . . . . . . . . . . . . . . .. .... . . .. Robert B. Inzer City Auditor .. ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . . ...... Ricardo Femander City Attorney. . . .. . . .. . . . . . . . . . . . . . . .. ... James R. English ASSISTANT AND DEPUTY CITY MANAGERS A s sis t ant Cit y M anager . . . .. . . . . .. . . . . . . . . .. . . . . . . . ... . . .. . ... .. .. ... . . ....... .... Jerry L. Maxwell
. Deputy City Manager .... . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . .. Anita Favors .
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I DEPARTMENT DIRECTORS Avistion. ...... . .. . . . . . . . . . . . . . . . . . . .. .. .. ... .. . . . . . . . . .. ..... . . . .. Ros emary N . Palmer Community improvoment . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. Donald A. Corley Electric ...... ... . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... .... . ...J. Sam Bell Employee Relations.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. Gloria HallWicNeil Equal Opportunity ... . .. . ... .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..........Sharon Ofuani Financa ... ...... .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... .... .. .. Philip F. Inglese Fire .. . .. ... . .. .... . . . . . . . .. . . . . . . . . . . . . . .. ... .. . .. .. ... . . . .. . . . ... . .. .. . Thomas C. Quillin Gas Utility.. . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . .. Samuel Davis, Jr.
Genoral Services.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . ... .. . ... . ..... .. Konnoth M. Austin .
t Growth Management ..... .. ... .. . . . . . . . . . . . . . . . . . . . . . .. . .. Henry L. Holshouser, Jr.
Information Systems Services.. . . . . . . . . . .. . . . . . .. .. ... ... .. .. .... ... ...... Michael R. DiPaolo ,
Management and Budget (Acting) ...... . .. .. ....... . . . .. . ... .... . .. .. . . .. .. ...... David C. Reid Parks and Recreation.. . .. ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . Randy Trousdell i Planning... . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . .. . Wendy Grey .
i Police .... ... . ... .. . . . . . . . . . . . . . . . . ... . . . . . . . .. . ......... .. Thomas R. Coe Public Works (Actingl... . . . . . . . . . .. . . . . . .. . . . . . . .. . . .. . John Davis ;
TalTran (Tallahassee Transiti. ....... .. . . . .. . .. .. .. . .. .. John L. Carter Water and Sower.. . ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. James H. Peters i l
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i FINANCIAL SECTION This section contains the following subsections: !
Auditor's Report General Purpose Financial Statements Combining and Individual Fund and Account Group-Statements and Schedules ;
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t EERNST& YOUNG UP w ra w - ,a, suite 2200
. ums e, 100 North Tampa 5treet POBenNO Tampa florida 3 %01 l
Report of Independent Certified Public Accountants l
u 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 30,1994. 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 our audit in accordance with generally accepted auditing standards and Goyemment Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we 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 tupporting 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 cpinion.
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 30,1994, and the results of its operations and the cash flows of its proprietary and similar trust fund types for the year then I
cnded in conformity with generally accepted accounting principles. Also, in our opinion, the individual fund financial statements referred to above present fairiy, in all material respects, the financial position of cach of those individual funds of the City of Tallahassee, Florida as of September 30,1994, and the results of operations and the cash flows of such funds for the year then ended in conform!!y veh generally accepted accounting principles.
l Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole and on the individual iund financial statements described above. The combining, 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 financial statements 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 the audit of general purpose financial statements and, in our opinion, is fairiy presented in all material 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.
&+ LLP December 14,1994 B-1
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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 funds. They also serve as an introduction to the more detailed statements and schedules that follow in subsequent sections.
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CITY OF TALLAHASSEE, FLORIDA COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS September 30,1994 Govemmental Fund Types Special Debt Capital General Revenue Service _ Projects ASSETS AND OTHER DEBITS Assets:
Cash and Cash Equivalents.. 5 5,168,000 5 15,329,000 5 10,000 8 85,890,000 investments.. - - 28,777,000 13,771,000 Receivables:
Special Assessments - Current.. - - - 133,000 Special Assessments - Deferred.. - - - 46,000 Accrued interest... - - 80,000 62,000 Notes.. 12,000 345,000 - -
Customers.. . 671,000 - - -
Accounts.- . 1,408.000 925,000 - 220,000 ,
Property Taxes-Delinquent.. 80,000 - - -
Less: ARowance for Doubtful Accounts.. (150,000) - - -
Due from Other Govemments.. - - - -
Due from Other Funds.. 86,000 - - 316,000 -
Advance to Other Funds.. , 408,000 - - 837,000 Deposits.. - - 66,000 -
Inventory.. 6,000 - - -
Restricted Assets: i Cash and Cash Equivalents.. - - - -
Investments.. - - - -
Accounts Receivable... - - - -
Notes Receivable.. - - - -
Due from Other Govemments.. - - - -
Loans to Other Funds.. - - - -
Unamortized Bond issue Costs., - - - -
Fixed 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.. - - - -
i Total Assets and Other Debits. . . .. 5 7.689,000 5 16,599.000 5 28,933.000 5 101,275,000 1
1 The accompanying notes are an integral part of these financial statements.
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CITY OF TALLAHASSEE, FLORIDA COMBINED BALANCE SHEET. ALL FUND TYPES AND ACCOUNT GROUPS September 30,1994 (Continued)
Fiouciary Totals Proprietary Fund Types Fund Type Account Groups (Memorandum OnY)
Intemal Trust and General General Long- September 30, September 30, Enterpnse Service Agency Fixed Assets term Debt 1994 1993 5 23,486,000 5 3,522,000 5 21,410,000 5 - 5 - 5 154,815,000 5 141,806,000
- - 340,493.000 - - 383,041,000 341,532,000
- - - - - 133,000 282,000
- - - - - 46,000 165,000
- - - - - 142,000 449,000
- - - - - 357,000 364,000 17,965,000 - - - - 18,636,000 19,151,000 1,331,000 195,000 53,000 - - 4,132,000 3,610,000
- - - - - 80,000 82,000 (1,720,000) - - - - (1,870,000) (2,339,000)
- - 478,000 - - 478,000 380,000
- 58,000 - - - 460,000 306,000
- - 44,000 - - 1,289,000 9,400,000
- 6,000 - - - 72,000 71,000
. 6,618,000 4,231,000 - - - 10,855,000 11,254,000 101,204.000 44,516,000 - - - 145,720,000 125,262,000 l
63,612,000 - - - - 63,612,000 43,266,000 1,316,000 26,000 - - - 1,342,000 1,499,000 6.071,000 840,000 - - - 6,911,000 6,678,000 1,582,000 1,582,000 - - - 3,164,000 1,714,000
- 19,663,000 - - - 19,663,000 19,820,000 1,125,000 - - - - 1,125,000 1,177,000 551,892,000 24,079,000 1,378,000 110,168,000 - 687,517,000 647,502,000
- - - - 28,933,000 28,933,000 19,852,000
- - - - 33.735,000 33,735,000 42,613,000 5 774,482,000 5 98,718.000 5 363,856.000 5 110,168,000 5 62,668,000 5 1,564.388,000 5 1,435.896.000 The accompanying notes are an integral part of these financial statements.
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CITY OF TALLAHASSEE, FLORIDA COMBINED BALANCE SHEET- ALL FUND TYPES AND ACCOUNT GROUPS September 30,1994 (Continued)
Govemmental Fund Types LIABluTIES, EQUITY, AND Special Debt Capital OTHER CREDITE General Revenue Service Projects Liabilities:
Accounts Payable.. 5 1,665,000 5 524,000 5 - 8 74,000
- - - 251,000 Due to Other Govemments.
Lease Payable.. - -
Accrued Leave.
Contracts Payable - -
Retainage Payable - - - 2,698,000 Due to Other Funds.. 52,000 - - -
Advance from Other Funds..
Utildy 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.- 382,000 391,000 - 64,000 Revenue Bonds Payable.. - -
Unamortued Bond Discount... -
Loans from Other Funds..
Notes and Loans Payable.. - - -
Prepaid Fees Crodet Payable.. - -
Total Llabillties . . . .. 2,099,000 915.000 - 3,107,000 Equity and Other Credits:
Contributed Capital - - - -
Investment in General Fixed Assets.. -
Retained Eamings:
Reserved.. -
Unreserved.. -
Fund Balances:
Reserved. 2,379,000 12,690,000 28,933,000 80,169,000 Unreserved:
Designated.. - -
Undesignated.. 3.211.000 2,994.000 - 17,999,000 !
Total Equity and Other Credits. . . 5,590,000 15,684,000 28,933.000 98,168,000 i Total Liabilities, Equity, and Other Credits. 5 7,689,000 5 16.599,000 5 28.933.000 5 101.275.000 The accompanying notes are an integral part of these financial statements.
B4
CITY OF TALLAHASSEE, FLORIDA COMBINED BALANCE SHEET- ALL FUND 1YPES AND ACCOUNT GROUPS September 30,1994 (Continued) i l
Fiduciary Totals Proprietary Fund Types Fund Type Account Groups (Memorandum Only)
Intemal Trust and General General Long- September 30, September 30, Enterprise Service Agency Fixed Assets term Debt 1994 1993 5 10,552,000 $ 949,000 5 139,000 5 - 5 - 5 13,903,000 5 18,064,000
- - 22,000 - - 273,000 209,000
- 31,000 - - - 31,000 63,000 5,368,000 1,745,000 - - 7,401,000 14,514,000 14,135,000 5,030,000 - - - - 5,030,000 5,413,000
- - - - - 2,698,000 1,993,00's 69,000 - 339,000 - - 460,000 306,000 1,289,000 - - - - 1,289,000 9,400,000 7,530,000 - - - - 7,530,000 7,264,000 8,767,000 - - - - 8,767,000 6,426,000 11,000 - - - - 11,000 6,000
- - - - - - 54,000
- 21,700,000 - - - 21,700,000 21,700,000
- 8,195,000 - - - 8,195,000 7,212,000 388,000 - - - - 388,000 401.000
- - 8,510,000 - - 8,510,000 7,861,000
- - 11,000 - - 868,000 387,000 217,488,000 - - - 27,465,000 244,953,000 229,896,000 (2,736,000) - - - - (2,736,000) (2,531,000) 15,913,000 1,172,000 - - 2,578,000 19,663,000 19,820,000
- - - - 25,224,000 25,224,000 301,000 549.000 - - - -
549.000 515,000 270.218,000 33,792.000 9.021,000 -
62.668.000 381,820.000 348.895,000 72,909,000 8,488,000 - - - 81,397,000 77,936,000
- - - 110,168,000 - 110,168,000 98,407,000 160,789,000 35,906,000 - - - 196,695,000 160,913,000 270,566,000 20,532,000 - - - 291,098,000 292,423,000
- - 331,728,000 - - 455,899,000 386,478,000
- - 954,000 - - 954,000 954,000
- - 22,153.000 - - 46,357,000 69,890,000 304,264,000 64,926,000 354,835.000 110,168.000 - 1,182.568.000 1.087,001,000 5 774.487.000 5 98.718.000 5 363.856,000 5 110,168.000 5 62.668.000 5 1,564,388,000 5 1,435,896.000 l
The accompanying notes are an integral part of these financial statements.
B-7 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 30,1994 Govemmental Fund Types Special Debt General Revenue Service Revenues:
Taxes._ $ 25,261,000 $ - 5 -
Special Assessment Revenues ~ - - -
Licenses and Permits-- 2,669,000 - -
Intergovemmental Revenues., 10,129,000 1,808,000 -
Charges for Services 11,563,000 6,912,000 -
Fines and Forfeitures.- 1,387,000 62,000 -
interest Emmed. 326,000 524,000 1,912,000 Miscellaneous Revenues.. 917,000 417,000 -
Total Revenues. .. 52.252,000 9.723,000 1,912,000 Expenditures:
Current General Govemment.. 13,533,000 641,000 -
Public Safety.- 35,624,000 279,000 -
Transportation.. 9,539,000 355,000 -
Human Services.. 2,567,000 927,000 -
Economic Development... 672,000 1,639,000 -
Physical Environment.. 2,605,000 4,882,000 -
Culture and Recreation.. 8,234,000 65,000 -
Distribubon of Eamings.- - - -
Capital Outlay.. .
- 48,000 -
Debt Service:
Principal Retired.. - - 3,688,000 Interest and Fiscal Charges.. - - 2,658,000 Refunding Bond issuance Costs.. - - 277,000 Total Expenditures. .-. .. . ... ... 72,774.000 8,836.000 6,623.000 Excess of Revenues Over (Under) Expenditures . .. . . . . (20.522,000) 887,000 (4,711,000)
Other Financing Sources (Uses):
Proceeds from Loans.. .,
Proceeds from Refunding Bonds = - - 24,965,000 Operating Transfers in.. 46,376,000 1,171,000 13,504,000 Operating Transfers Out.__ (24,942,000) (871,000) -
Advance Refunding Escrow.. - - (24,677,000)
Total Other Financing Sources (Uses) 21,434,000 300,000 13,792,000 Excess of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses. 912,000 1,187,000 9,081,000 Fund Balances - October 1.. 4,698,000 14,497,000 19,852,000 Residual Equit, Transfer in.. - - -
Residual Equity Transfer Out.. (20,000) - -
Fund Balances . September 30 5 5,590.000 5 15.684.000 5 28.933,000 The accompanying notes are an integral part of these financial statements.
B-8
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 30,1994 Fiduciary Totals Fund Type (Memorandum Ordy)
Capital Expendable September September Projects Trust 30,1994 30,1993
$ 12,991,000 $ 95,000 $ 38,347,000 $ 35,550,000 80,000 - 80,000 91,000
- - 2,669,000 2,234,000
- 210,000 12,147,000 14,647,000 1,113,000 - 19,588,000 18,846,000 4
- - 1,449,000 1,392,000 4,522,000 1,028,000 8,312,000 7,213,000 586,000 90,000 2,010,000 1,961,000 19,292.000 1,423,000 84,602,000 81,934,000 j i
- - 14,174,000 13,262,000 35,903,000 36,047,000 1
- 20,000 9,914,000 10,180,000 l
- - 3,494,000 2,999,000
- - 2,311,000 2,085,000
- - 7,487,000 8,432,000
- 579,000 8,878,000 8,447,000
- 4,000 4,000 78,000 23,968,000 - 24,016,000 22,834,000
- - 3,688,000 16,932,000
- - 2,658,000 3,583,000
- - 277,000 549,000 23,% 8,000 ,
603,000 112,804.000 125,437,000 (4,676,000) 820,000 (28,202,000) (43,503.000) ,
- - - 255,000
- - 24,965,000 25,753,000 13,630,000 125,000 74,806,000 68,478,000 (6,885,000) (3,984,000) (36,682,000) (27,847,000)
- - (24,677,000) (1,482,000) 6,745,000 (3,859,000) 38,412,000 65,157,000 2,069,000 (3,039,000) 10,210,000 21,654,000 96,216,000 22,028,000 157,291,000 135,637,000
- 137,000 137,000 6,759,000 (117,000) - (137,000) (6,759,000) 5 98,168,000 5 19,126,000 5 167,501,000 5 157,291,000 The accompanying notes are an integral part of these financial statements.
B-9
3 CITY OF TALLAHASSEE, FLORIDA STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL c GENERAL FUND !
3 For the Flecal Year Ended September 30,1994 ,
1994 1993
- ActualOn Variance-Bud9etary Favorable ~ i Bud 9et Basis (Unfavorable) Actual Actual ,
Revenues:
Taxes. $ 25,264,000 8 25,261,000 $ ( 3,000) 8 25,261,000 5 23,261,000 ;
Uconses and Permits.; 2,462,000 2,669,000 207,000 2,669,000 2,234,000- ,
intergovemmental Revenues 10,266,000 10,129,000 (137,000) 10,129,000 10,707,000 ;
Charges for Services 11,566,000 11,563,000 (3,000) 11,563,000 10,945,000 ,
Fines and Forfeitures.. 1,453,000 1,3f 7,000 (66,000) 1,387,000 1,321,000 ;
interest Eamed.- 375,000 326,000 (49,000) 326,000 296,000 Miscellaneous Revenues.. .. 797,000 1,114,000 317,000 917,000 740,000 i Total Revenues.. . _ . 52,183,000 52,449,000 266,000 52,252,000 49,504,000 6
't Expenditures: !
Current ,
General Govemment... 14,595,000 13,894,000 701,000 13,533,000 13,034,000 PutAc Safety... 36,620,000 36,029,000 591,000 35,624,000 35,799,000 Transportsbon 10,157,000 9,584,000 573,000 9,539,000 9,174,000 l Human Services _- 2,573,000 2,489,000 84,000 2,567,000 2,366,000 ,
Economic Environment... 706,000 693,000 13,000 672,000 765,000 !
Physical Environment.. 2,873,000 2,639,000 234,000 2,605,000 2,611,000 !
Culture and Recreation.. 8,637,000 8,414,000 223,000 8,234,000 7,690,000 ;
TotalExpenditures . 76,161,000 73,742,000 2.419,000 72,774,000 71,439,000 Excess of Revenues Over (Under) Expenditures. _ (23.978,000) (21,293,000) 2,685,000 (20,522,000) (21,935,000)
Other Financing Sources (Uses): ;
~ Operating Transfers in.- 45,716,000 46,376,000 660,000 46,376,000 45,747,000 i Operating Transfers Out.- (21,738,000) (24,942,000) (3,204,000) (24,942,000) (23,884,000)
Total Other Financing Sources (Uses) .. . . 23,978,000 21,434,000 _ (2,544,000) 21,434,000 21,863,000 Excess of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses $ - $ 141,000 $ 141,000 5 912,000 5 ( 72,000) i i
L The accompanyir's notes are an integral part of these flnancial statements.
f B-10
m -. _ . ..
I l
l CITY OF TALLAHASSEE, FLORIDA Combined Statement of Revenues Empenses and Changes in Retonned Earniaes*und seiences AH proprietary Fund Types and Simmer Trwat Funde ;
Per Sie Placal Year Ended September 30,1984 Totals !
Propnetary Fund Types Fs:knery Fund Types (Memorandum Only)
Ordemel Pensson Nonempendable September September Enteronse Serwce Trust Trust 30.1994 30.1993 operaung Revenues Charges for Sernces $ 246,530,000 $ 45,453,000 S - 8 - $ 291,983,000 $ 288,461,000 Irweetment Rowsnue .- - - 6,773,000 282,000 7,055,000 15,741,000 Irweetmort GansNet... - - 17,784,000 - 17,784,000 5,837,000 Contributions - - 21,357,000 - 21.357,000 19,905,000 Other.__ - - se000 to 000 85 000 112 000 Total Opereung Revenues 246.530.000 45 453.000 45.980.000 301.000 338.264 000 329 856 000 Opereune Exponess Pereormi Sernces 36,750,000 13,193,000 - - 49,943,000 45.214,000 Fossa Fust... 39,725,000 - - - 39,725,000 38,701,000 Power Purchseed 32,674,000 - - - 32.674,000 33,456,000 Gas Purcheaed... 5,628,000 - - - 5,628,000 6,060,000 Meteriais and Sur.Aes .. 5,955,000 826,000 - - 6,781,000 5,761,000 Contractual Serwoes 37,002,000 18,491,000 - - 55,493,000 53,642,000 Other Expenses 15.998,000 7,169.000 - - 23,167,000 20,978,000 Less: Applied Equipment CherDes . (319.000) - - - (319,000) (351.000)
Deprecseteart,. 18,138,000 3,544,000 - - 21,682,000 22,838,000 Amortizatiort., 297,000 - - - 297,000 340,000 Benefit Paymeres .. - - 8,363,000 1,000 8,364,000 7,295,000 Cafunds.... . . . . . . - - 1,319,000 - 1.319,000 1,188,000 insurance - - 15,000 - 15,000 31,000 Admnistraort.. . . . . . .
1.155 000 -
1.155 000 978 000 Totel operating Expenses 191.848 000 43 223 000 10 852 000 1 000 245.924 000 236.131.000 Operaung income. 54 682.000 2 230 000 35.128.000 300,000 92,340.000 93.725.000 Nonopereeng Revenues (Expenses):
Irterest Revenue..._,, 7,276,000 3.228,000 - - 10,504,000 10,621,000 Gen on the Sete of Surplus Property 41,000 - - - 41,000 25,000 Grort Revenue 1,403.000 - - - 1,g63,000 1,598,000 Other Revenues , 9,116,000 - - - 9,116,000 5,956,000 interest Expense .. (5,288,000) (700,000) - - (5,988,000) (3,583,000)
Other Expenses (1.286.000) - - -
(1286 00J0 (3.712.000)
Total Nonopereeng Revenues (Expensesk 11.322 000 2 528.000 - -
13 850.000 10 905.000 income Before Opereeng Trenefors and Extraordinary h 66,004,000 4,758,000 35,128,000 300,000 106,190,000 104,630,000 Operating Transfers in... 8,044,000 1,103,000 - 250,000 9,397,000 6,680,000 OperstwG Transfers Out (47 002.000) (519 000) - -
(47.521.000) (47.310 000) income Before Extraordinary nera 27,046,000 5,342,000 35,128,000 550,000 68,066,000 64,000,000 Estraordinary leerm Loss on Refunded Bonds .. - - - - - (12.784 000)
Not inc- 27,046,000 5,342,000 35,128,000 550,000 68,066,000 51,218,000 Disposit6on of Not income:
Increase in Contrtbuted CopaeL (158,000) - - -
(158,000) (13.000)
Deprecastion on Contnbuted Assets . 2 227 000 - - -
2 227.000 2 251 000 Not incrosse in Roteined Earningsf Fund totences 29.115,000 5,342,000 35,128,000 550,000 70,135,000 53,454,000 Rotened Emmn9s/
Fund Beiencas . Omober 1 402 240.000 51.096.000 295 178 000 4 853 000 753 367 000 699 913 000 Retained Earningel pund Relences . September 30 5 431 355 000 S 56 438 000 S 330 306 000 $ 5 403 000 S 823 502 000 S 753 367 000 The accompanying notes are an integral part Of these financial statements.
B-11
CITY OF TALLAHASSEE, FLORIDA Combined Statement of Cash Flows All Proprietary Fund Types and Similar Trust Funds For the Fiscal Year Ended September 30,1964 Totals Pmprw tsry Fund Types Fiducery Fund Types (Memorandum Only)
Intemal Ponson Nonexpendable September September Entypnse Serwtce Trust Trust 30.1994 30.1993 inctease (Decrease)in Cash and Cash Equivalents:
Cash Flows from Operaeng Activities:
Cash ReceNed imm Customers ,, .$ 243,930,000 8 407,000 $ - $ 19,000 5 244,356,000 $ 235.600.000 Cash Racewed kom Other Funds ear Senaces 5.480,000 43,401.000 - - 48,881,000 51,862,000 Employer Cordnbutons... - - 13.494,000 - 13,494,000 12,275,000 Empkryse Comributons .. - - 6,976,000 - 6.976,000 6,789,000 State Contilbutons - - 887,000 - 887,000 844,000 Cash Payments to Suppliers for Goods and Senaces (123,197,000) (25,729,000) - - (148,926,000) (135,708.000).
Cash Peyments to Employees Ibr Serme (36,528,000) (13,111,000) - - (49,639,000) (45,162,000) .
Peyments Ibr Senaces to Other Funds - Q0,212,000) 9 09,000) - - p0,921,000) (17,560,000)
Benoots Pad - - (8 563,000) (1,000) (8.364,000) p.295,000)
Cefunds Paid ,, - -
(1,319,000) - (1,319,000) (1,188,000)
Admirustratrve Cost PaKI .. - -
(1.170 000) - (1,170 000) (1.008.000)
Not Cash Provided by Opersung Activines _ 69 473.000 4 259.000 10.505 000 18 000 84.255 000 _
G9.458.000 Cash Flows from Noncapital F6nancing Activenes:
Operatog Transfers in from Other Funds .. 7,886,000 1,103,000 - 250,000 9,239,000 6,667,000 Opere%g Grants Recened .. 1,393,000 - - - 1,393,000 1,029,000 Meoellaneous Rownue .. 8,134,000 12,000 - - 8,146,000 2,273,000 Operating Trarefore Out to Other Funds .. (47,002.000) (519,000) - - (47,521,000) (47,309,000)
Net Cash Provided by (Used for) Noncapital Financing Acevitas, (29 589 000) 596 000 - 250 000 (28 743 000) (37,340 000)
Cash Flows from Capital and Related Financing Acuvities:
Receipts from Energy Loan Progrom .. 5,742,000 - - - 5,742,000 4,502.000 Proceeds kom Sale of Flands .. 41,478,000 - - - 41,478,000 44,181,000 Advances Wom Other Funds... 3,255.000 - - - 3,255,000 7,386,000 Capital Grards Recewed .. 3,794.000 - - - 3,794,000 5,769,000 Capital Contributor 3 .. 158,000 - - - 158,000 13,000 Proceeds from the Sale of Property .. 40,000 - - - 40,000 21,000 Acqualton and Constructen of Capital Aasets .. (35,522,000) (4,520,000) - - (40,042,000) (57,735,000) -
Pnncipal and ReNnding Payments .. (6,583,000) (587,000) - - 9,170,000) (35,996,000)
Repayment of Advenm kom Other Funds .. 9,002,000) - - - 9,002.000) (1,208,000)
Funding of Energy Loan Program .. (5,395,000) - - - (5,395,000) (5,260,000) '
interest Paid .. (11,689,000) 9 00,000) - - (12,389,000) (13,355,000) :
Payments on Captal Lease .. -
(33 000) - -
(33.000) (146 000)
Net Cash Used for Capital and Related Financing Activttle= (11.724 0001 (5.840 000) - -
(17 564 000) (51.828 000)
Cash Flows from investing Acevtues:
Promeds from Seis and Maturnes of irwestment Secuntes ,. 34.104.000 - 196,534,000 - 230,638,000 299,811,000 Ceceipts of interest on Irwestments .. 8,636,000 3,228,000 24.657,000 282,000 36,803,000 34,352,000 Purchase of Irwestment Secur1tes .. (54,450,000) - 9 32,623,000) - pB7,073,000) (367,282,000)
Het Cash Provided by (Used for) Investing Acevities (11.710.000) 3.228 000 (11.432_000) 282 000 (19_632 000) (33.119.000)
Not increase (Decrosse) in Cash and Cash EquNsteras .. 16,450,000 2,243,000 (927,000) 550,000 18,316,000 p2,829,000)
Cash and Cash Equrvaients . October 1.. 108 240 000 45 705 000 1_477.000 4 853 000 160,365.000 183.194.000 Cash and Cash Equivalents . September 30 $ 124 690 000 $ 48 038 000 $ 550 000 S 5 403 000 S 178 681 000 S 160 365 000 Classified As:
Unrestncted Assets . .S 23.486,000 $ 3,522,000 $ 550,000 $ 5,403,000 $ 32,961,000 $ 35,103.000 Reetncted Asaets .. 101.204.000 44.516 000 - -
145.720.000 125.262.000
$ 124 690 000 $ 48 038 000 $ 550 000 $ 5 403 000 5 178 681 000 S 160 365 000 The accompanying notes are an integral part of these financial state (nents.
B-12
CITY OF TALLAHASSEE, FLORIDA C.mnined stateme.it er Ceek Pevre All Proprietary Fund Types and Similar Trust Fundo Por sie Piecel Year Ended September 30,1984 (Cenunued)
Totale Propnetary Fund Types FKhJesary Fund Types (Memonsndum OnM Intemel Penson Nonexpendeble September September E98erpnse Service Trust Trust 30.1994 30.1993 a-ash of Opereung income to Not Cash Provided by Operating Activenes Operebn9 income. . . . . , .._..,S 54.682 000 $ 2 230.000 $ 35.128.000 S 300.000 $ 92 340.000 $ 93.725 000 Aquelments to Reconcus Opereeng Income to Isot Ceek Provided by Opereeng Acevities:
Depreciateart. _ 18,138,000 3,544.000 - - 21,682,000 22,838,000 Amortgehort 297,000 - - - 297,000 340,000 ,
PrtMoon for Uncullectible Accounts 190,000 - - - 190,000 234,000 '
Change in Aseste end unhillues:
(6ncreeee) Decrease in Accounts Recemble (181,000) (89,000) 34,000 - (236,000) (1,234,000)
(increase) Decreene in Other Accounts Recewable .. (124,000) (2,265,000) - - (2,389,000) 8,000 Decrosse in Due from Other Funds ., 6,000 - - - 6,000 20,000 (Incrosse) Decrease h irnentory.. 924,000 (529,000) - - 395,000 517,000 increece (Decreeee)in Accounto Payabie .. (4,894,000) 1,286,000 - - (3,608,000) 4,229,000 incrasee in Due to Other Funds... 6,000 - - - 6,000 7,000 incramme (Decrease) en Customer Contracts Payebse .. (71,000) - - - (71,000) 21,000 incresee in Utility Deponds Poyable .. 266,000 - - - 266,000 356,000 increeee (Decy sese) en Deferred Regnue . (13,000) - - - (13,000) 3,000 increene (Decreeee)in Customer Advenoes .. 7,000 - - - 7,000 (117,000) increase in Accrued Leme . 206.000 82,000 - - 288,000 135,000 increses (Decreeee) in Propsid Fees Credit .. 34,000 - - - 34,000 (205,000)
Receipts of interest eq investments ., - - pd 657.000) 082_000) Q4.939.000) Q1.419 000)
Total Adjustments 14 791 000 2 029 000 a4 623 000) 082.000) (8.085 000) 5.733 000 Net Cash Provided by Operating Activiues S 69 473 000 5 4 259 000 $ 10 505 000 $ 18 000 5 84 255 000 $ 99 458 000 Cash and Cash Equivalents et End or Year:
The Comtuned Statemert of Cash Fbas-All Propnetary Fund Types and Semder Trust Funds rwf.;,& only Pensen Trust and Nonexpendable Trust Funds The Comtaned Beience Sheet includes all Trust and Agency Funds includin9 Empendebte Trust Funds The respectne Cash and Cash Equivalert belances as included on the Comtuned Bolence Sheet are Pensson Trust $550,000, Expandeble Trust $15,457,000, and Nonexpendab6e
. Trust $5,403,000.
The accompanying notes are an integral part of these financial statements.
B-13
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NOTES TO FINANCIAL STATEMENTS
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D i
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS Septernber 30,1994 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 governmental 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 with subsequent GASB pronouncements (Standards and Interpretations), constitutes GAAP for governmental units.
This summary cf Tallahassee's significant accounting policies is presented to assist the reader in interpreting the financial statements and other data in this report. These policies are considered essential and should be read in conjunction with the accompanying financial statements.
A. REPORTING ENTITY The City of Tallahassee is a political subdivision of the State of Florida, located in Leon County in the north central portion of the State. Tallahassee, the capital city of Florida, is the county seat arj te only incorporateu municipality in Leon County. The City was incorporated in 1825 and has operated since 1919 un.ier 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 of 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 system; a sewage collection and treatment system; and a solid waste collection system), a regional airport, a bus system, and a golf course.
This report includes financial statements of the funds and account groups required to account for those financial activities which are related to the City and are conelled by or dependent upon the City's legislative body, the City Commission. Control or dependence upon the City was determined based on the existence of one or more of the following criteria: the basis of budget adoption, taxing authority, outstanding debt collateralized by revenues of general obligations of the City, and the City's legal responsibility to fund any deficits that may occur. On this basis, the following entities are not part of the City of Tallahassee and thus, are excluded from the accompanying financial statements:
Tallahassee Housing Authority - This authonty was created by the City pursuant to Florida Statute 421 which l requires the City Commission to appoint the Commissioners of the authority. Operations are administered by the Authority and financed with Federal funds and rentals Outstanding debt of the Authority is not an obligation of the City Sunshine State Governmental Financing Commission - The Cities of Orlando and Tallahassee, Florida, 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.B.).
Crystal River Unit 3 - 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 n1t meet the criteria for inclusion as part of the reporting entity since the operation of the plant is not controlled by the City (see Note V.A.).
B. BASIS OF PRESENTATION The accounting records of the City are organized on the basis of funds and account groups. For reporting purposes, the 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.
B-16
i l
- CITY OF TALLAHASSEE, FLORIDA j l
NOTES TO FINANCIAL STATEMENTS September 30,1994 ,
NOTE I-(Continued) :
f 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 j tocount groups and are presented only to facilitate financial analysis. Data in these columns does not present ;
firuncial position, 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 os this data.
i C mparativ, .otal data for the prior year have been presented in the accompanying financial statements in order to ;
provide en understanding of changes in the govemment's financial position and operations. However, comparative ;
dits have not been presented in all statements because their inclusion would make certain statements unduly j complex and difficult to understand. Certain balances presented in the financial statements for the year ended !
September 30,1993, have been reclassified for comparative purposes in the accompanying financial statements. i l
The following fund types and account groups are used by the City
- l OOVERNMENTAL FUNDS Th3 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 not income. The j following is a description of the Govemmental 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 j
~
sources (other than expendable trusts, or major capital projects) that are legally restricted to expenditures for specified ,
purposes.
DEBT SERVICE FUNDS - Debt Service Funds are used to account for the accumulation of resources for, and the pIyment of, general long-term debt principal, interest, and related costs. j 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). ;
I PROPRIETARY FUNDS Th2 focus of Proprietary Fund measurement is upon determination of not income, financial position, and cash flows. l Th3 generally accepted accounting principles utilized for these funds are similar to those used by businesses in the !
private sector. The following is a description of the Proprietary Funds of the City: l ENTERPRISE FUNDS - Enterprise Funds are used to account for operations (s) that are financed and operated in a ;
minner similar to private business enterprises - where the intent of the governing bidy is that the costs (expenses, ,
i including depreciation) of providing goods or services to the general public on a cc9tinuing basis be financed or recovered primarily through user charges; or (b) where the govoming body has docided that periodic determination of l i
. revenues samed, expenses incurred, and/or not income is appropriate for upital 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 pr:vided by one department or agency of the City to other departments or agencies of the City, or to other .
g:vemments, on a cost-reimbursement basis. ]
l B-17
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE I-(Ceatinued)
FIDUCIARY FUNDS TRUST AND AGENCY FUNDS - Trust and Agency Funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governments, and/or other funds. These include Expendable Trust, Nonexpendable Trust, Agency, and Pension Trust Funds. Pension Trust Funds and Nonexpendable Trust Funds are accounted for in essentially the same manner as Proprietary Funds since capital maintenance is entical. Expendable Trust Funds are accounted for in essentially the same manner as Governmental Funds. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations.
ACCOUNT GROUPS Account Groups are used to establish control and accountability over the City's general fixed assets and the unmatured principal of its general long-term debt, which is not associated with, nor the obligation of, the proprietary or trust funds. Accordingly, the City maintains a GENERAL FIXED ASSET ACCOUNT GROUP and a GENERAL LONG-TERM DEBT ACCOUNT GROUP.
C. BASIS OF ACCOUNTING Basis of accounting refers to when revenues, expenditures or expenses are recognized in the accounts and reporte,d in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied.
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 net current assets. The following revenues are considered to be susceptible to accrual: grant revenues, rent revenues, cigarette tax revenue, telecommunications revenue, mobile home licenses, 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. Utility 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 *he actual and estimated cost once cctual 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 with generally accepted accounting principles (GAAP) with the exception that encumbrances are reported as expenditures in the year the commitment is incurred. The City Manager is authorized to transfer budget amounts within departments; 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 appropriations are closed at year end.
- 2. ENCUMBRANCES - Encumbrance accounting, under which requisitions, purchase orders, contracts, and other commitments for the expenditures of resources 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.
l
. B-18
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE 1 -(Continued)
E. ASSETS, LIABILITIES AND FUND EQUITY
- 1. CASH AND CASH EQUIVALENTS -The City considers cash on hand, cash with fiscal agents, demand deposits tnd bank repurchase agreements with an original maturity of 90 days or less to be 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 and MAP Program, i cr3 ttated at amortized cost. Investments in the Deferred Compensation Fund and MAP Program are stated at market vilu2.
- 3. INVENTORY - The City maintains a variety of inventory types stated at cost or the lower of cost or market in different funds as follows:
Inventory Tvoe 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 supplies, parts, tires and fuel internal Service Funds Moving average I Maintenance & repair parts General Fund First-in, first-out l Retail merchandise Golf Course Fund First-in, first-out Th3 cost of govemrnental fund-type inventories are recorded as expenditures when consumed rather than when purchased. Perpetual inventory records are maintained for all significant inventories.
- 4. ADVANCE TO/FROM OTHER FUNDS - Non-current portions of interfund loans receivable (reported in " Advance to" csset accounts) of governmental funds are equally offset by a fund balance reserve account which indicates that th:y do not constitute "available spendable resources" since they are not a component of not current assets. Current portions of interfund receivables (reported in "Due from" asset accounts) are considered "available spendable resources". Non-current portions of interfund loans payable of govemmental funds are reported in the General Long-Term Debt Account Group since they are not liquidated through the use of expendable available financial resources.
Th2 proceeds of such advances to governmental funds 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. 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.
All fixed assets are recorded at historical cost or estimated historical cost if actual cost is not available. Donated fixed cssets are valued at their fair market value on the date donated. .
Fixed Assets used in the Enterprise, Internal 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 an expense rgrinst 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 c pital for those assets constructed or purchased with funds received from Grants, Entitlements or Shared Revenues.
B-19
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE I-(Continued)
The estimated useful lives are as follows:
Buildings.. . 10 to 40 Years improvements other than Buildings. 10 to 40 Years Machinery and Equipment.. . 10 to 40 Years Vehicles.. 5 to 15 Years The City follows the Federal Energy Regulatory r;ommission's Uniform System of Accounting; therefore, retirements of Utility Funds' plant in service are accountr d for in accordance with Federal Energy Regulatory Commission e
regulations, whereby, when an asset is rat;Gd, che cost of the asset is charged to accumulated depreciation.
- 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.
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 consolida;ed 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 30,1994 was 3.200.
All property is assessed by the county according to its fair 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 Statutes.
The current yev 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 'nonth 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 1 following the tax year, certificates are sold for all delinquent taxes on real property. After sale, tax certificates bear interest of 18% per year or at any lower rate bid by the buyer.
Application for a tax deed on any unredeemed tax certificates may be made by the certificate holder after a period of ;
two years. Delinquent taxes on personal property bear interest of 18% per year until the tax is satisfied either by seizure and sale of the property or by the five year statute of limitations.
The City Tax Calendar is as follows: Valuation Date: January 1; Levy Date: November 1; Due Date: March 31, Succeeding Year; and Lien Date: April 1, Succeeding Year.
- 2. GRANTS AND OTHER INTERGOVERNMENTAL REVENUES - Grants and other intergovernmental revenues recorded in govemmental funds are recognized as revenue in the period when they are measurable and available (modified accrual basis of accounting) within the parameters of legal and contractual requirements. in enterprise funds, grants and other intergovernmental resources that are externally restricted to capital acquisition or construction are recorded as contributed equity (Contributed Capital accounts) and recognized in the period in which they are samed and become measurable (accrual basis of accounting). Grants and other intergovemmental 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 other 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.
B-20
l CITY OF TALLAHASSEE, FLORIDA i NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE I-(Continued)
- 4. AMORTIZATION OF NUCLEAR FUEL - The costs of nuclear fuel, including estimated disposal cost, are charged to operating expenses. These costs are charged to customers through increased rates or through the fuel adjustment I clause. l l
- 5. COMPENSATED ABSENCES - All full-time employees earn vacation and sick leave starting with the first day of employment; all part-time employees eam vacation and sick leave in proportion to the number of hours in their normal l work day.
Vacation leave is esmed based on years of continuous and creditable service as follows:
Executive Senior Manaaement General Years of Total Days Years of Total Days Years of Total Days Service Per Year Service Per Year Service Per Year Up to 1 15 Up to 1 15 Up to 5 15 i to 5 21 i to 5 18 S to 10 18 S to 10 24 S 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.
Sick leave is earned at the rate of four hours for each month of service with no maximum limit on the number of hours which may be accumulated. Effective May 1,1991, employees who have 24 months continuous service and who cxperience an absence in excess of 48 consecutive work hours for a medically certified illness or disability are also eligible for Catastrophic illness Leave up to a lifetime maximum of 1200 hours0.0139 days <br />0.333 hours <br />0.00198 weeks <br />4.566e-4 months <br />. 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 regird to catastrophic illness leave) accumulated by him or her on the effective date of termination. If the employee dies, the sick leave amount will be paid to the employee's beneficiary or estate. Retiring employees can elect the eption of using the accumulated sick leave amount to purchase single coverage health insurance in lieu of receiving payment.
Accamulated current and long term vacation and sick pay amounts are accrued when vested in Proprietary Funds.
Fct Governmental Funds, the liability is recorded in the General Long-Term Debt Account Group. The City has est:blished a reserve in the Human Resources Fund (an Internal Service Fund) to fund accrued leave pay outs which cra in excess of annual budgetary amounts.
- 6. INTERFUND TRANSACTIONS
- c. INTRA-GOVERNMENTAL CHARGES - Certain functions of the City of a general and administrative nature are accounted for in internal service fundt 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 30,1994 are as follows:
General.. . S 9,554,000 Electric. 8,075,000 Gas. 1,266,000 Sewer .. 2,687,000 ,
Water . 2,379,000 i Airport . 456,000 Tallahassee Transit . 636,000 Solid Waste . 2,270,000 Golf Course. 99,000 Stormwater Management.. 748.000
$28.170 000 l
B-21 l i
I
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE I-(Continued)
- b. TRANSFERS - All interfund transactions except advances, quasi-external transactions and reimbursements are accounted for as transfers. Nonrecurring or nonroutine transfers of equity between funds are considered residual or capital equity transfers. All other interfund transactions are treated as operating transfers.
- 7. RECONCilIAT10N 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 t
- Excess of Revenues and Other Financing Sources Under Expenditures and Other Financing Uses - GAAP Basis" for the General Fund for the year onded September 30,1994:
Excess of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses - Budgetary Basis. $ 141,000 Adjustments:
Cancellation of Prior Year Encumbrances.. (197,000)
Recognition of Current Year Encumbrances.. . . 968.000 Excess of Revenues and Other Financing Sources Over Expendrtures and Other Financing Uses - GAAP Basis . $ 912.000
- 8. BUDGETARY COMPLIANCE SCHEDULES ON A DEPARTMENTAL AND FUND BASIS: - The schedule below gives a comparison on a departmental and fund basis of budget to actual expenditures on a budgetary basis. The l City's legally adopted budget requires that we report encumbrances as an expenditure. Budgetary basis expenditures ;
include encumbrances to reflect actual expenditures on a basis consistent with the legally adopted budget. This schedule includes budgetary comparisons for both Enterprise and General Fund operations.
Departments Budaet Expenditures Variance City Commission. $ 474,000 $ 469,000 $ 5,000 Legal .. 1,426,000 1,284,000 142,000 Treasurer / Clerk.. 5,363,000 5,307,000 56,000 Auditing.. . 430.000 405,000 25,000 Executive.. 1,502,000 1,532,000 (30,000)
Management and Budget.. 11,549,000 11,327,000 222,000 Fire.. 12,545,000 12,438,000 107,000 Police . 23,319,000 22,950,000 369,000 Public Works.. 33,476,000 32,264,000 1,212,000 Parks and Recreation . 10,433,000 10,152,000 281,000 General Services . 2,015,000 1,901,000 114,000 Planning.. . 2,197,000 2,155,000 42,000 Community improvement . 3,322,000 3,215,000 107,000 Aviation.. 5,466,000 5,755,000 (289,000)
Tallahassee Transit . 10,470,000 10,215,000 255,000 Electric.. , 139,702,000 129,705,000 9,997,000 l Water and Sewer.. 38,651,000 36,995,000 1,656,000 i Gas .. 11,196,000 10,654,000 542,000
! Growth Management. 3.223 000 3.016.000 207.000
$316.759.000 $301.739 000 $15.020.000 B-22 l
I CITY OF TALLAHASSEE, FLORIDA l
l NOTES TO FINANCIAL STATEMENTS September 30,1994 j NOTE 1 (Continued)
Funds Budaet Expenditures Variance General Fund . . . .. .. 8 89,786,000 $ 87,400,000 $ 2,386,000 Electric Fund. . . 138,149,000 128,600,000 9,549,000 Airport Fund . 6,338,000 6,648,000 (310,000)
Gas Fund . .. 11,196,000 10,654,000 542,000 Sewer Fund... . 23,667,000 22,517,000 1,150,000 507,000 Water Fund. . . 14,984,000 10,470,000 14,477,000 10,215,000 255,000
)
Tallahassee Transit Fund.. l Solid Waste Fund.. 13,375,000 13,014,000 361,000 i Golf Course Fund., 1,809,000 1,733,000 76,000 Railroad Fund.. . . 32,000 19,000 13,000 Storm Water Fund.. 6.953 QQQ 6.462.000 - 491.000
$316.759 pgg $301.739.000 j,,11222,222
- 9. AIRPORT FUND'S LEASING OPERATIONS - The Airport Fuad's leasing operations consist principally of leasing 1;nd and buildings under operating leases to airlines, rental car as,wcies and other commercial enterprises. Lease terms very from one to twenty-five years and require, in some cases, th0t leasehold improvements be contributed to the City at lease termination. The following is a scheoule by years of minirr um future rentals on noncancelable operating leas:s of the Airport Fund as of September 30,1994; Years ending Se*ptember 30, 1995.. $ 890,000 ,
1996.. . 693,000 ;
1997.. . 679,000 l 1998.. 573,000 i 1999... 519,000 !
Thereafter.. . 3 216.000 l If.5 28.22 l
Tot:1 minimum future rentals do not include contingent rentals that may be realized under certain leases that require cdditional rent if the tenant's gross revenues exceed stipulated minimums. Contingent rentals for the fiscal year ended S:pttmber 30,1994 amounted to $35,000.
In October 1989, the City entered into fifteen-year lease and use agreements with its major airline tenants, the signatory ciriine agreements. Among other provisions, the agreements require that landing fees and terminal rentals be reviewed
- cn ally and adjusted so that the total revenues of the Airport System are sufficient to meet the Airport Fund's requirements as determined by the signatory airline agreements. At the end of the fiscal year, after all required deposits 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 Credit as follows: 60% for the first five fiscal years, and 50% in subsequent fiscal years. The allocation of th3 Prepaid Fees Credit is 85% toward terminal rentals and 15% toward landing fees.
The Prepaid Fees Credrt is recorded as a current liability in the amount of $549,000 and $515,000 for the 1994 and 1993 fiscal years, respectively.
B-23
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE I-(Continued)
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 $134,000, 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 improvements in other than airline supported areas; or the cost of improvements in airline supported areas for which the signatory airlines are not finandally 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.
B-24
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE 11 -STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY A. COMPLIANCE WITH FINANCE-RELATED LEGAL AND CONTRACTUAL PROVISIONS The City has no material violations of finance-related legal and contractual provisions.
O. DEFICIT RETAINED EARNINGS OF INDIVIDUAL FUNDS The Communications Fund, an Internal Service Fund, had a deficit retained earnings of $(10,000) at September 30,1994.
The deficit will be eliminated by transfer of funds from other operating funds during the 1995 fiscal year.
C. EXCESS OF EXPENDITURES OVER APPROPRIATIONS IN INDIVIDUAL FUNDS AND DEPARTMENTS The Executive Department exceeded it appropriations by $30,000, which was covered by excesses in other departments within the General Fund. The Airport Fund (an Enterprise Fund) exceeded its budgetary appropriations by $310,000, which was covered by excess revenues generated in the fund. The overages in the Executive Department and Airport Fund were reviewed and approved by the City Commission during the budgetary closeout process.
D, ESTABLISHMENT OF NEW FUND During 1994, the Scholarship Fund was established as a non-expendable trust fund. The corpus of $250,000, must be proserved intact and all earnings to be used to fund scholarships for high school students.
r l
I B-25
CITY OF TALLAHASSEE, FLORIDA NGTES TO FINANCIAL STATEMENTS September 30,1994 NOTE Ill- DETAIL NOTES - ALL FUNDS AND ACCOUNT GROUPS A. ASSETS
- 1. CASH AND CASH EQUIVALENTS AND INVESTMENTS 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 addrtion, investments are separately held by several of the City's funds.
Deposits - At year end, the book balance of the City's deposits was $3,577,000 and the bank balance was
$7,399,000. 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 depositories. The Act requires each qualified public depository to deposit with the State Treasurer eligible collateral 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 of the securities pledged by the defautting 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 pro-rata basis.
Investments - The Cry's investment guidatines, as defined by the City Charter and its wntten investment policies, are approved by thir City Commission or the Sinking Fund Commission. The investment policies established three investmer,t 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 ausp ces 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 30,1994 is $9,689,000.
Authorized investment instruments for General Operating and the Sinking Fund pools are as follows:
General Sinking Operatina Fund Repurchase Agreements.. X X Reverse Repurchase Agreements. X X Certificates of Deposit.. X X Bankers' Acceptances.. X X Commercial Paper Rated A-1 by Standard & Poor's or P-1 by Moody's . X X U. S. Treasury Bills, Bonds or Notes.. X X U. S. Govemment Agencies.. X X 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 Govemments Surplus Funds investment Pool . X X The Pension Fund Pool may be invested at a level considered acceptable for the plan as adopted by the Sinking Fund 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 Lehman's G/C Composite index, and 10% in the Frank Russell Company real estate index.
B-26
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 j NOTE Ill -(Continued) in tddition to authorizing investment instruments, the City's policies also identify various portfolio parameters addressing issutr diversification, term to maturity and liquidity, and requirement of " purchase versus delivery" perfection for securities held by a third party on behalf of and in the name of the City.
- ihe 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 30,1994:
Cateaory Carrying Market 1 2 3 Amount Value Repurchase Agreements.. $ - $9,689,000 $ - $ 9,689,000 $ 9,689,000 U. S. Government Securities., 80,609,000 - - 80,609,000 79,127,000 U. S. Government Agencies.. 119,329,000 - - 119,329,000 115,362,000 Corporate Fixed income Secunties.. 94,177,000 - - 94,177,000 93,464,000 Corporate Equity Securities.. 126.432.000 - -
126.432.000 139.535.000 1420.547 000 19 689 000 1 - 430,236,000 437,177,000 Investment in Florida State Boaro of Administration Local Governments Surplus Funds investment Pool.. 94,703,000 94,703,000 inv:stment in mutual funds.. 164,726,000 175,980,000 inv:stment in guaranteed investment contract.. 36,145,000 36,145,000 invIstment in Real Estate. 15,197,000 15,325,000 :
Accrued Interest.. 2.746.000 2.746.000 )
Total Investments.. 1743 753 000 1762 076 000 Cat: gory 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 investments for which the securities are held by the counterparty's trust department or agent in the City's name. Categnry 3 includes uninsured and unregistered investments for which the secunties are held by the counterparty in the City's name or held by the counterps'ty's trust department or egint, but not in the name of the City.
- 2. FIXED ASSETS During the fiscal year ended September 30,1994, the following changes occurred in the general fixed assets account j group:
Balance Balance October 1, September 30, 1993 Additions Deletions 1994 Lend .. .
$25,559,000 $ 2,031,000 7,, (50,000) $ 27,540,000 Buildings . 35,654,000 1,310,000 (176,000) 36,788,000 Improvements Other Than Buildings . .
9,297,000 1,754,000 - 11,051,000 Equipment.. 11,983,000 1,675,000 (377,000) 13,281,000 Censtruction in Progress.. 15,359,000 11,845,000 (6,385,000) 20,819,000 Equity investment in Railroad Fund.. 555.000 134.000 -
689.000 198 407 000 118 749 000 Sf6 98R 000) 1110 168 000 B-27
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS Septernber 30,1994 NOTE 111 -(Continued)
General fixed assets construction in progress consisted of the following at September 30,1994:
Required Project Future Authorized Expended Committed Fundina Land Acquisition.. . $ 2,557,000 $ 1,246,000 $ 1,311,000 None Mixed Use Parking Garage. 19,200,000 7,398,000 11,802,000 None Parks & Recreation Facilities . . 3,487,000 1,241,000 2,246,000 None Police Station Expansion / Equipment.. 5,104,000 4,413,000 691,000 None Science Center.. 2,051,000 354,000 1,697,000 None Gymnastics Center.. 2,422,000 33,000 2,389,000 None Animal Shelter.. 3,303,000 235,000 3,068,000 None Fire Station Relocation.. .. 1,220,000 3,000 1,217,000 None Miscellaneous Projects . 6.890.000 5.896.000 994.000 None
$46.234.000 $20.819.000 $25.415.000 Proprietary fund type fixed assets consisted of the following at September 30,1994:
Enterprise intemal Service Land.. . $ 10,438f']O $ 108,000 Structures and Improvements.. 243,841 00 591,000 Equipment.. 454,50!,,)00 11,310,000 Vehicles.. 15,517,000 32,099,000 Construction in Progress.. 66.019.000 -
Totat . 700,324,000 44,108,000 Less: Accumulated Depreciation.. (238.432.000) (20.029.000)
Net.. 5 551.892 000 $ 24.079.000 The amount reported for equipment in the Internal Service Fund as of September 30,1994 includes capitalized lease equipment purchased under capitalized leases of $4,136,000. Accumulated depreciation on the leased equipment totaled $2,194,000.
Net interest costs incurred during long-term construction projects are capitalized. Capitalized interest in the proprietary funds consisted of the following at September 30,1994:
Electric Water Sewer Gas Airport Fund Fund Fund Egns Fund Total interest Cost incurred.. 56.697.000 $741.000 $2 772.000 $200.000 }j 279.000 Interest Cost Capitalized.. $3,971,000 $345,000 $1,691,000 $154,000 $ 331,000 Interest Earned Bond Proceeds.. .
(917.0 % (59.000) (201.000) (23.000) (133.000)
Not Interest Capitalized.. },3f54000 3 $286.000 $1490.000 $131.000 $ 198.000
)
B-28 i I
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE Ill -(Continued)
Fixed Assets for each Enterprise Fund and Intemal Service Fund consisted of the following at September 30,1994:
Structures and Construction Less Accumulated Land improvements Eauipment Vehicles in Proaress Total Deoreciation Net Enterprise Funds:
Electric.. $ 4,637,000 $ 32,646,000 $349,362,000 $ 6,443,000 $37,794,000 $430,882,000 $161.139,000 $269,743,000 Gas.. . 62,000 19,246,000 7,382,000 - 2,891,000 29,581,000 5,931,000 23,650.000 Sewer .. .. 871,000 82,724,000 66,681,000 - 9,992,000 160,268,000 31,239,000 129,029,000 W ater.. ... 171,000 43,417,000 22,455,000 - 5,337,000 71,380,000 17,016,000 54,364,000 Airport.. 2,703,000 58,851,000 3,615,000 483,000 7,014,000 72,666,000 15,240,000 57,426,000 Tallahassee Transit.. . 1,850,000 5,870,000 1,469,000 8,515,000 2,938,000 20,642,000 5.564,000 15.078,000 Solid Waste.. - 280,000 2,159,000 2,000 - 2,441,000 1,723,000 718,000
[ Golf Course - 144.000 807.000 1.386.000 74.000 53.000 2.464.000 580.000 1.884.000
- Total._ . . . . . . . . . $10.438.000 $243.841.000 $454.509.000 $15 517.000 $66.019.000 $790.324.000 $236.432.000 $651.892.000 Intemal Service Funds:
Reading, Billing and Collection.. . . . . $ -
$ 120,000 $ -
$ 120,000 $ 83,000 $ 37,000 Informa* ion Systems Services._ - - 8,748,000 13,000 - 8,761,000 3,200,000 5,561,000 Accounting.. .. .... .. .. ... - - 91,000 - - 91,000 47,000 44,000 Central Stores.. ... 50,000 258,000 23,000 - - 331,000 151,000 180,000 Purchasing.. - - 99,000 - - 99,000 44,000 55,000 Garage . 58,000 330,000 1,861,000 32,086,000 - 34,335,000 16,252,000 18,083,000 Human Resources . - - 64,000 - - 64,000 33,000 31,000 Pension Administration. - - 1,000 - - 1,000 1,000 -
Risk Management.. - - 1,000 - - 1,000 1,000 -
Communications.. -
3.000 302.000 - -
305.000 217.000 88.000 Total.. . . . . . . $ 108.000 $ 591.000 $ 11.310.000 $ 32.099.000 $ -
$ 44.108.000 $ 20.029.000 $ 24.079s 03
i CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE 111 -(Continued)
B. LIABILITIES
- 1. PENSION PLAN OBLIGATIONS The City's pension plan was established by Chapter 17 of the City Code of Ordinances. Under the plan the City provides a single employer defined bensfit provision covering general employees (Article ll), police officers (Article til) and firefighters (Article IV), and a defined contribution provision (Article V - Matched Annuity - MAP) covering all City employees. The provisions of the pension plans are " qualified" under the Intemal Revenue Service Code, which makes employee contributions tax deferred.
- a. Defined Benefit Provision - Established through Parts A, B, and C in Articles 11, 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 supplements.
- b. Defined Contribution Provision - All employees (general, firefighters, and police officers) may elect to contribute a portion of their salaar to the plan. General employees, Firefighters and Police Officers 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 normal 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 not vested at the date of employment termination.
- c. Funding Status and Progress - The amount shown below as the " pension beneftt 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-concern 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 contributions to the plan. The pension benefit obligation was computed as of September 30,1993. 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 30,1993, were as follows:
Pension Benefrt Oblication e Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving benefits 5 87,031,000 e Current employees:
Accumulated employee contributions 66,774,000 Employer-financed vested 42,589,000 Employer-financed nonvested 68.131.000 Total Pension Benefit Obligation 264,525,000 e Net assets available for benefits (actuarial value) 313.146.000 e Assets in excess of Pension Benefit Obligation S 48.621 000 B-30
crrY OF TALLAHASSEE, FLORIDA l
NOTES TO FINANCIAL STATEMENTS September 30,1994 i
. NOTE lit -(Continued)
- The market vaiue of not assets available for benefits was $334,108,000.
I Pension Plan Information 1994 Membershio StatisticalInformation ,
A. Retirees and benenciaries of deceased retirees currently receiving benefits 516 :
B. Terminated employees entitled to benefits but not yet receiving benefits 47 i
- C. Active employees:
Fully vested 1,774 (
Non-vested 927 ;
~
D. Total current year's payroll $87,967,000 !
E. Current year payroll for employees covered by the Plan $78,426,000 l
- d. Actuarially Determined Contribution Requiremente and Contribution Made - The contributions required to .
support the benefits under Article 11, ll1 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 j cnd constant percentage rate of contribution 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. .j The unfunded actuarial accrued liability contribution is funded when necessary using the entry age actuarial cost method ;
~ with amortization penod of fifteen years. Additional contributions are made on a term cost basis to support the pro- .
retirement death benefits. j i
Employer contributions required to support the benefits under Article V (MAP Program) are determined following a level j funding aggregate approach. The present value of prospective employer contributions !s determined by subtracting the 1
- present value of prospective member contributions and present assets from the total present value of benefit expected to l be paid from the program. Contributions during fiscal year 1994 totaling $7,723,000 ($4,454,000 employer contributions ;
representing 7.04% of covered payroll for general employees and $3,260,000 voluntary employee contributions [
representing 3.9% of total covered payroll), were made in accordance with contribution requirements determined through ,
en cctuarial valuation performed as of September 30,1992. Total covered payroll for the MAP program was $63,257,000 i for general employees and $20,667,000 for police and Arenghters. Total covered payroll for Ascal year 1994 was i
$83,924,000. Contributions are based on rates of covered payroll of 7.04% for the City and . voluntary employee l c:ntributions of 0% - 20% for general employees, Arefighters and police officers. ,
Ctntributions to the Defined Benefit Plan in 1994 amounted to $12,747,000 of which $9,040,000 and $3,707.000 were :
made by the City and its employees, respectively. In addition, the State of Florida contribution for the Police and Fire ,
plans amounted to $531,000 and $356,000, respectively. The contributed amounts were actuarially determined as t described above and were based on an actuarial valuation as of September 30,1992. Contributions made by the City of ;
Taillhassee and its employees are detailed in the table noted below.
i Th3 significant actuarial assumptions used to compute the actuarially determined contribution requirements are the same i ts those used to compute the pension benefit obligation as described in the proceding page. l The employer pension cost as a percentage of payroll for each Plan is as follows: !
General Employees Police Firefiahters i Percent of Percent of Percent of i Amount Payroll Amount Payroll Amount Payroll i Contribution Requirements: f Normal Cost.. . $ 9,909,000 16.59% $ 2,744,000 25.40 % $ 1,984,000 25.93 % l:
Unfunded Accrued Liability (Surplus)._ (562.000) (0 94%) (282.000) (2 61%) f159.000) f2.09%)
Total .. ..
M _1515% g,1gMQQ 22 79% M 23 84 % ;
i
)
y l
s B-31 ,
l
".....e. e -, . . , , . , - . . , , , , , - , , . , - - , , ,-. ,
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE 111 -(Continued) ,
General Emoloveg_ Police Firefiahters Percent of Percent of Percent of Amount Payroll Amount Payroll Amount Payroll Contribution Made: ,
City.. $ 6,996,000 11.65 % $ 1,253,000 11.57 % $ 791,000 10.23 % i Employee.. . . . . 2,351,000 4.00 % 678,000 6.29% 678,000 9.00 %
State of Florida.. . - - 531.000 4 93 % 356.000 4.61,E Total.. . . . LMi7 ggg M M 22 79% M 23 84 %
A separate Article V MAP employer contribution is also payable for general employees, police offmers and firefighters.
Firefighters and police officers MAP plans were amended on October 1,1988 and June 1,1990 eliminating the City's required contribution. The Article V MAP employer contribution for general employees was 7.04%, 5.29% and 5.77% ,
for 1994,1993 and 1992, respectively.
- e. Trend information -Trend information gives an indication of the progress made in accumulating sufficient assets .
to pay benefits when due.
The following first seven 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 inft'rmation required by Governmental Accounting Standards Board Statement No. 5.
Reauired Sucolementary information Analysis of Fundina Proaress ;
(in millions)
(1) (2) (3) (4) (5) (6)
Assets in Assets in l Net Excess of Excess of l Assets Pension PBO as % l Fiscal Available Pension Percentage Benefrt Annual of Covered ,
Year for Benefit Funded Obligation Covered Payroll >
Ended Benefits Oblication (1) I f2) f1) - f2) Payroll f4) / f 5) 9/30/87 $ 128.8 $ 125.4 103 % $ 3.4 8 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 $ 54.0 25 % l 9/30/90 $ 209.2 5 183.0 114 % $ 26.2 $ 64.0 41 % l 9/30/91 $ 241.6 $ 215.3 112 % $ 26.3 $ 70.0 38 %
9/30/92 $ 274.9 $ 235.5 117 % $ 39.4 5 72.8 54 %
9/30/93 $ 313.1 8 264.5 118 % $ 48.6 8 75.3 65%
in addition, for the three years ended September 30,1994,1993, and 1992, the City contributions to the defined benefit plans, all made in accordance with actuarially determined requirements, were 11.53%,12.02% and 11.12%
respectively, of annual covered payroll.
' Analysis of the dollar amounts of not assets available for benefits, pension benefit obligation and assets in excess of pension benefit obligation in isolation can be misleading. Expressing the not assets available for benefits as a j percentage of the pension benefit obligation, provides one inr8R,ation cf the systems' funding status on a going-concern I basis. Analysis of the percentage over time indicates whe.nor r 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 analysis of the systems' progress in accumulating sufficient l assets to pay benefits when due. Generally, the greater this percentage, the stronger the system. l B-32 l
)
i l
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE 111 -(Continued)
'" Net assets for fiscal years 1991-1993 have been presented at adjusted market value. The other years have been presented at book value.
Revenues by Source Employer Contributions as a Percent +
Fi: cal Employee
- Employer of Covered State Other ** Investment
,hgL Contributions Contributions PayroII Contributiqna Revenue income Total 1985 $ 4,128,000 $ 5,355,000 * $ 424,000 $ 11,000 $ 6,905,000 $ 16,823,000 '
" 530,000 241,000 11,740,000 22,720,000 1986 4,386,000 5,823,000 1987 4,688,000 6,802,000 15.3 % 102,000 9,000 22,499,000 34,100,000 1988 5,247,000 7,478,000 15.2 % 1,370,000 12,000 17,718,000 31,825,000 1989 5,399,000 8,640,000 16.0% 752,000 9,000 13,839,000 28,639,000 1990 6,428,000 8,760,000 13.7 % 787,000 12,000 21,816,000 37,803,000 1991 6,791,000 8,898,000 12.7 % 754,000 22,000 15,047,000 31,512,000 1992 6,687,000 12,235,000 16.8 % 805,000 47,000 20,269,000 40,043,000 1993 6,789,000 12,275,000 16.3 % 841,000 41,000 21,099,000 41,045,000 1994 6,976,000 13,494,000 17.2 % 887,000 66,000 24,557,000 45,980,000 Expenses by Tvoe 1 Fiscal Administrative Year Benefits Expenses Refunds insurance Total 1985 $ 2,433,000 $ 447,000 $ 459,000 $ 314,000 $ 3,653,000 1986 2,921,000 614,000 607,000 229,000 4,371,000 1987 3,264,000 686,000 954,000 25,000 4,929,000 l 1988 3,752,000 779,000 1,132,000 13,000 5,676,000 1989 4,M7,000 727,000 879,000 17,000 5,890,000 1990 4,750,000 772,000 768,000 12,000 6,302,000 1991 6,627,000 832,000 934,000 22,000 8,415,000 1992 6,832,000 898,000 957,000 13,000 8,700,000 1993 7,295,000 978,000 1,188,000 31,000 9,492,000 1994 8,363,000 1,155,000 1,319,000 15,000 10,852,000
- Contributions were made in accordance with actuarially determined contribution requirements.
- Investment income includes only realized gains and losses on investments.
- "Not available.
- 2. OTHER EMPLOYEE BENEFITS
- c. Deferred Compensation -The City of Tallahassee offers its employees a deferred compensation plan created in toccrdance with Internal Revenue Code Section 457. The plan, available to all City employees, permits them to defer o portion of their salary until future years. The deferred compensation is not available to employees until termination, ;
retirement, death, or unforeseeable emergency. ,
1 All tmounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all i income attributable to those amounts, property, or rights are (until paid or made available to the employee or other l beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the I plin), subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of l
. general creditors of the City in an amount equal to the fair market value of the deferred eccount 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 due care that would be required of an ordinary prudent investor. The City believes that it is unlikely that it will use th3 assets to satisfy the claims of the general creditors in the future.
B-33 4
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE Ill-(Continued)
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 Prudential Asset Management Company, Inc. They invest and reinvest the money and credrt each account with earnings 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 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 Crty'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 contribution to the pension plans, and is based on a level Nnding 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 30,1994, in the respective funds are as follows:
General Fund.. $ 35,000 7 Special Revenue Funds . 180,000 Capital Project Funds.. 2.698,000 Internal Service Funds. 237,000 Stormwater.. 60,000 Deficiencies and Emergency Fund . 112,000 Enterprise Funds Electric.. , 1,744,000 Gas.. 22,000 Sewer.. 1,212,000 Water.. 355,000 Airport.. 1,306,000 Tallahassee Transit.. 18,000 Solid Weste Fund.. 545.000 Total . $ 8 524.000
- 5. LONG-TERM DEBT
- a. The following is a summary of the changes in the general long-term debt account group for the City for the year ended September 30,1994:
1 Balance Balance l October i Additions Reductions September 30 General Revenue Bonds . $49,980,000 $ - $22,515,000 $27,465,000 Accrued Leave.. , 7,308,000 3,541,000 3,448,000 7,401,000 Note Payable.. 301,000 - 42,000 259,000 i Loans from Others Funds.. 4,876,000 - 2,298,000 2,578,000 Loan Payable.. -
24 965.000 - 24.965.000 ,
562 465.000 528.506.000 528.303.000 562.668 000
- b. Summarized below are the City's individual bond issues which were outstanding at September 30,1994: ,
General revenue bonds: ,
$21,220,000 Capital Bonds - Series 1989, due in annual installments of $700,000 to $805,000 from October 1,1995 to October 1,1997, interest rates at 6 9% to 7.0% depending on matunty date. $2,255,000 B-34
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE Ill-(Continued)
$18,770,000 Capital Bonds - Series 1993A, due in annual installments of $950,000 to $1,655,000 from October 1,1995 to October 1,2008, interest rates at 3.2% to 5.20% depending on maturity date. 17,510,000
$7,700,000 Capital Bonds - Series 1993B, due in annualinstallments of $1,620,000 to $2,580,000 from October 1,2009 to October 1, 2012, interest rate at 5.25%. 7.700.000
$27.465.000 The general revenue bonds are payable from and secured by first lien and pledge of the Public Service Tax, Local Govemment Half-cent Sales Tax, Guaranteed Entitlement Revenues, and earnings on the investment of all funds and accounts created by and described in Resolutions.
Proprietary revenue bonds:
$2,862,000 Junior Lien Electric Revenue Bonds (Mini bonds)-Series 1992A, five year bonds due February 1,1997, with a term payment of $1424,000, interest at 5.57%; and ten year bonds due February 1,2002, with a term payment of $ :,S87,000, interest at 6.09%. Bonds are subject to redemption prior to stated maturities and are presented at face amount outstanding plus tecretion of $462,000. Bonds are secured by net revenues of the Municipal Electric System. $ 3,273,000
$75,700,000 Electric Refunding Revenue Bonds - Series 1992A, due in annual installments of
$4,275,000 to $7,895,000, from October 1,1995 to October 1, 2007, interest rates at 4.0% to 6.10% 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 cs provided by Resolution. 71,575,000
$40,090,000 Electric Revenue Bonds - Series 1992B, due in annual installments of $4,000,000 12 $8,110,000 from October 1, 2004 to October 1,2012, interest at 5.8% to 6.25% depending on miturity 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
$37,725,000 Consolidated Utility Systems Revenue Bonds - Series 1994, due in annual instillments of $865,000 to $2,885,000 from October 1,1997 to October 1,2019, interest r;tes at 4.55% to 6.20% depending on maturity date. Bonds are payable and secured by lien en and pledge of certain funds provided by Resolution, net revenues of the City's Utility System (consisting of the City's water, sewer and gas systems), and the gross revenues of the City's Stormwater Drainage System. Lien on Pledged Revenues is on parity with the lien of Consolidated Utility Systems Revenue Bonds Series 1991 A and Series 1991B. 37,725,000
$4,490,000 Consolidated Utility Systems Revenue Bonds - Series 1991 A, due in annual inst;llments of $175,000 to $380,000 from October 1,1994, to October 1,2009, interest rates at 5 4% to 6.3% depending on maturity date. Bonds are payable and secured by lien on tnd pledge of certain funds provided by Resolution, net revenues of the City's Utility System, and the gross revenues of the City's Stormwater Drainage System. 4,020,000
$47,785,000 Consolidated Utility Systems Revenue Bonds - Series 1991B, due in annual installments of $1,090,000 to $4,145,000 from October 1,1995, to October 1,2014, interest rates at 5 7% to 6.9% depending on maturity date. Bonds are payable and secured by lien on tnd pledge of certain funds provided by Resolution, not revenues of the City's Utility System, and the gross revenues of the City's Stormwater Drainage System. 43,940,000
$5,235,000 Airport System Subordinated Revenue Bonds-Series 1994A(Minibond Program) principal due April 1,1999, with a interest rate of 5%. Bonds are payable and secured by lien on the Passenger Facility Charges, in the manner provided by Resolution and by net revenues ditived from airport operations. 5,235,000 B-35
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTEIll (Continued)
$12,350,000 Airport Revenue Bonds - Senes 1988A, due in annual installments of ,
$270,000 to $1,000,000 from October 1,1995 to October 1,2014, interest rates at 6.65% i to 7.9% depending on maturity date. Bonds are secured and payable from the not revenues of the Airport System. 11.630.000 +
On February 24, 1994, the City adopted Resolution Number 93-R-0071 authorizing a variable rate loan from the !
Sunshine State Govemmental Financing Commission in the amount of $24,965,000. The proceeds of the loan were ;
placed in an escrow account with a trustee to advance refund $20,605,000 Capital Refunding Bonds - Senes 1984, :
with interest rates of 10.09% to 10.62% depending on maturity date. The escrow account is invested in U.S. Treasury securities that, together with interest thereon, will provide amounts sufficient for future payments of principal and interest on the refunded bonds. In addition, the loan agreement required establishment of an excess interest account i at closing in the amount of $541,000 providing for 52 days of interest at the maximum allowable loan interest rate of 15%. The advance refunding of the Capital Refunding Bonds - Series 1984 met the requirement of an insubstance debt defeasance and the bonds were removed from the City's General Long Term Debt Account Group. ;
1 As a result of the advance refunding, the City reduced its total debt service requirements by $18,731,000 which l resulted in en economic gain (difference between the present value of the debt service payments on the old and new !
debt based on the interest rate at the date of the refunding) of $12,391,000. The maximum loan interest rate of 15% !
would result in an economic gain of $253,000. l On August 1,1994, the City issued $37,725,000 in Consolidated Utility System Revenue - Bonds Senes 1994. The Series 1994 Bonds were issued for the purpose of constructing certain improvements to the City's water, sewer, and j gas utility systems. j On March 23,1994, the City issued $5,235,000 in Airport Subordinated Revenue Bonds - Series 1994. The Senes l 1994 Bonds were issued for the purpose of constructing various components designed to improve, upgrade and enhance operational efficiency at the Airport.
On July 13, 1993, the City issued $18,770,000 and $7,700,000 in Capital Bonds, Series 1993A and 1993B, i 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 $3,022,000 difference between the cash flow required to service the new and old l bonds which represents an economic ga:n on the transaction of $1,411,000. l 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 -
Revenue Bonds, Series 1985A. There is a $14,947,000 difference between the cash flow required to service the new and old bonds which represents an economic gain on the transaction of $11,496,000. The Electric Fund recorded an ,
extreordinary loss of $12,784,000, cash proceeds of $44,182,000, and cash refunding payments of $34,187,000 in connection with this transaction. ;
- c. Legal Debt Margin - Ine 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. . . . . 83.736.737.000 .!
Debt Limit 20 Percent of Assessed Value.. $ 747.348.000 l
- d. Refunded issues - The City defossed certain general revenue, municipal utility revenue, and other bonds by r 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 liability for the defessed bonds are not included in the City's l financial statements. The following schedule reflects the refunded bonds as of September 30,1994: i 5
T
, r - -
l
.I 1
l CITY OF TALLAHASSEE, FLORIDA l l
NOTES TO FINANCIAL STATEMENTS l September 30,1994 i 1
' N3TE 111-(Continued)
)
Outstanding as of Tvoe Series September 30.1994 General Revenue 1973 $ 11,800,000 :
1978 36,927,000 j 1981 19,800,000 ,
Municipal Hnspital 1967 170,000 ,
Municipal Electric 1968 800,000 1971 4,900,000 ,
1972 1,800,000 l 1977 63,940,000 ;
1982 17,100,000 Junior Lien Electric Refunding 1985A 29,430,000 ,
Municipal Utility Revenue 1970 2,050,000 !
1970A 800,000 }
9,005,000 '
1979 1982 675,000 4 Capital Bonds 1989 16.120.000 ;
D15 317 000 -
- o. Loan Payable - On November 18,1986, the City obtained an $18,200,000 loan from the Sunshine State Govemmental Fin ncing 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 additional loans totaling $4,700,000 from
, the Sunshine State Governmental Financing Commission, the proceeds of which were used to fund the purchase of data 1 pr: cessing equipment and to fund the construction of a road project. The rate of interest on the loan varies based upon ,
mirket interest rates for short-term tax exempt finsncing. The loan interest rate at September 30,1994 was 3.79%. The l d:bt service schedule on B-38 was prepared utilizing a six percent (6%) interest rate which is reflective of the average L imerest rate over the last six years. The outstanding balance at September 30,1994 is $21,700,000. l P
During 1991 the above loans were transferred to the Intemal Loan Fund. The Internal Loan Fund charges an interest rate equil to the Sunshine State variable i;i .st rate. These loans are due and payable on July 1,2016. >
L Th3 loan is non-project specific (as long as designated projects are appropriate under Florida Law and will not cause the l lxn, if considered as a separate bond issue, to be in violation of applicable IRS guidelines) and non-revenue specific (a !
c:venant to budget and appropriate for non-advalorem revenues exists). l
-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 ($7,094,000, with the primary source of debt service being water operating revenues); sewer fund l 4
($8,163,000, with the primary source of debt service being sewer operating revenues). The second loan was allocated as j 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 revenues generated from special assessments and General Fund revenues). j On February 24, 1994, the City of Tallahassee obtained a $24,965,000 loan from the Sunshine State Govemmental Financing Commission, the proceeds of which were used to defense the 1984 Capital Refunding Bonds. The rate of !
interest on the loan varies based upon market interest rates for short-term tax exempt financing. The loan rate at September - l 30,1994 was four and a half perce it (4.5%). The debt service schedule on B-38 was prepared using a six and a half !
percent (6.5%) ra*e which is reflective of the average interest rate over the term of the loan. The principal of the loan is due !
cnd payable on January 1,1999. The note is recorded in the General Long-Term Debt Account Group. -fr
- 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, '~c. in the amount cf $436,000. The note bears an interest rate of 8% and is payable in ten annual installments of $65,000. The outstanding !
b:1:nce at September 30,1994 is $259,000. The note is recorded in the General Long-Term Debt Account Group. ,
I B-37 .
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE lil-(Continued)
- g. Schedule of Detut Service Requirements, including Principal and Interest - All Fund Types Proprietary Revenue Bonds General Year Ending Revenue Note and Loan Total Debt September 30 Bonds Electric Gas Sewer W ater Airpert Pavabfe Service 1995 $ 2,977,000 $ 10,614,000 $ 898,000 $ 5,242,000 $ 854,000 $ 1.432,000 $ 2,990,000 $ 25,007,000 1996 2,977,000 10,613,000 809,000 4,976,000 842,000 1,429,000 2,990,000 24,636,000 1997 2,979,000 12,265,000 1,020,000 5,605,000 870,000 1,429,000 2,990,000 27,158,000 1998 2,147,000 10,014,000 1,019,000 5,603.000 869,000 1,427,000 2,990,000 24,669,000 1999 2,145,000 10,616,000 1.020,000 5,606,000 869,000 6,663.000 26,332,000 53,251,000 2000 2,149,000 10,616,000 1,020,000 5,604,000 869,000 1,165,000 1,302,000 22,725,000 9
g 2001 2,148,000 10,614,000 1,020,000 5,605,000 870,000 1,167,000 1,302,000 22,726,000 2002 2,145,000 12,701,000 1,019,000 5,602,000 869,000 1,167,000 1,302,000 24,805,000 2003 2,147,000 10,616,000 1,019,000 5,604,000 869,000 1,163,000 1,302,000 22,720,000 2004 2,146,000 10,615,000 1,020,000 5,605,000 869,000 1,167,000 1,302,000 22,724,000 2005 2,146,000 10,614,000 1,020,000 5,607,000 869,000 1,168,000 1,302,000 22,726,000 2006 2,145,000 10,614,000 1,020,000 5,608,000 869,000 1,165,000 1,302,000 22,723,000 2007 2,145,000 10,618,000 1,020,000 5,608,000 869,000 1,164,000 1,302,000 22,726,000 2008 2,145,000 8,616,000 1,020,000 5,607,000 870,000 1,165,000 1,302,000 20,725,000 2009 2,024,000 8,616,000 1,021,000 5,608,000 865,000 1,167,000 1,302,000 20,603,000 2010-2019 6.765,000 25,848,000 8,976,000 39,519,000 4,298,000 5,827,000 29,510,000 120,743,000 Totals 41,330,000 184,810,000 23,941,000 122,609,000 17,290,000 29,865,000 80,822,000 500,667,000 Less: Interest 13,865,000 69,872,000 11,755,000 58,522,000 7,878,000 13,000,000 33.898,000 208,790,000 Principal $27,465,000 $114,938,000 $12,186,000 $ 64,087,000 $ 9,412,000 $16,865,000 $46,924,000 $291,877,000
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE I!!-(Continued)
- 6. ACCRUED LEAVE The current and long-term portions of accrued leave by fund consists of the following at September 30,1994:
Accrued Accrued Accrued Leave Vacation Sick Leave Total Short-Term Portion Enterprise Funds:
Electric.. $1,103,000 $1,526,000 $2.629,000 $1,137,000 Gas.. 117,000 126,000 243,000 121,000 Sewer.. 416,000 451,000 867,000 456,000 W ater.. 151,000 191,000 342,000 175,000 Airport . 98,000 239,000 337,000 111,000 Tallahassee Transit . 195,000 147,000 342,000 222,000 Solid Waste.. 217,000 323,000 540,000 220,000 Golf Course.. 40,000 28,000 68,000 38,000 Internal Service Funds . 821,000 924,000 1,745,000 840,000 General Long-Term Debt Account Group.. 3.147.000 4.254.000 7.401.000 3.318.000 Total.. $6.305.000 $8.209 000 $14.514.000 $6.638.000 Th) 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
- c. Capitalized - The City has one capital lease with the principal remaining of $31,000. The liability for equipment ccquired 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
$253,000 and $24,000 for fiscal years 1995 and 1996, respectively. There are no minimum future lease obligations due cft:r 1995. Total rent expense incurred by the City for the year ended September 30,1994, was $1,400,000.
- 8. SELF-INSURANCE PROGRAM The Self 'nsurance Program provides coverage against workers' compensation claims (up to the first $500,000 per occurrence), general liability and automobile liability. For general liability and automobile liability statutory limitations are
$100,000 individual, $200,000 aggregate per occurrence. The City has obtained "stop-loss" insurance which covers all workus' compensation claims exceeding $500,000, subject to an aggregate policy limit of $10,000,000. The Risk Min gement 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 30,1994, the City recorded a liability of $7,907,000 for claims, which is a
$926,000 increase from $6,981,000 which was recorded at September 30,1993. The $926,000 increase represents expenses of $3,007,000 less payments of $2,081,000.
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 tradltional insurance pr: gram under which the City is self-insured. Under the traditional program, the City has obtained "stop-loss" insurance which covers losses in excess of $150,000 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 30,1994, the City recorded an actuarially determined liability of $288,000 reflecting an amount for reported and unreported claims incurred.
B-39
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE Ill-(Continued)
C. INTERFUND RECEIVABLES AND PAYABLES l At September 30,1994, Interfund Receivables and Payables are as follows:
Fund Due From Due To Advance To Advance From Loan To Loan From l
General., . . . S 86,000 $ 52,000 $ 408,000 $ -
$ - $ -1 Capital Improvements.. . .. 316,000 - 837,000 - - -
Airport., . _
- 65,000 - 1,289,000 - 3,375,000 Gas. - - - - - -1,539,000 Sewer.. . - - - - - 5,544,000 Water.. - - - - - 5,455,000 Tallahassee Transit . .. - 4,000 - - - -
Reading, Billing and Collection 57,000 - - - - -
Information Systems Services - - - - - 1,172,000 Internal Loan . .
- - - - 19,663,000 -
Risk Management Fund.. 1,000 - - - - -
Deficiencies and Emergencies - - 44,000 - - -
Railroad.. - 339,000 - - - -,
General Long-term Debt Account Group . - - - - -
2.578.000
$ 460.000 5460.000 $1.289.000 51.289.000 1.1.1DQ}.aQQ $19.663.000 D. FUND EQUITY
- 1. CHANGES IN CONTRIBUTED CAPITAL Enterprise Funds - The following changes occurred in contributed capital of the Enterprise Funds during the year ended September 30,1994:
Tallahassee Electric Sewer Airport Transit Others Total Beginning Balance as of October 1,1993. $ 2.126.000 $18.521.000 $34.408.000 $13.995.000 $ 2.280.000 571.330.000 Additions:
Capital Grants.. - - 3,009,000 111,000 19,000 3,139,000 Passenger Facility Charge.. - - 509,000 - - 509,000 Transfer from Other Funds. - - -
158.000 -
158.0.QQ -
Total Additions. . - - 3.518.000 269.000 19.000 3.806.000 Deductions:
Depreciation on Contributed Assets. -
(648.000) (1.144.000) (435.000) - (2.227.000)
Total Deductions.. ,
- (648.000) (1.144.000) (435.000) -
(2.227.000)
Ending Balance as of September 30.1994.. $ 2.126.000 $17.873.000 $30.782.000 $13.829 000 $ 2.299.000 572.909.000 B-40
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE 111 -(Continued)
- 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, 1994, the Reserved Retained Earnings for the Tallahassee Transit Fund.
Airport Fund, Solid Waste Fund, and Golf Fund, were $2,357,000, $3,659,000, $1,130,000, and $522,000, respectively.
- The foll;; wing changes occurred in reserved retained eamings of the enterprise funds during the year ended September 30, 1994:
Total Enterprise Electric Gas Sewer Water Others Funds Reserved Retained Eemings:
Revenue Bond Reserve.. $11,682,000 $ 303,000 $ 3,716,000 $ 839,000 $ 1,970,000 $ 18,510,000 Sunshine State Construction . - 319,000 932,000 776,000 - 2,027,000 Revenue Bonds Renewal and Replacement. . . 24,084,000 323,000 5,570,000 5,925,000 1,889,000 37,791,000 Revenue Bonds Constructiun . 25,043,000 295,000 - 792,000 - 26,130,000 Operating Reserve . 20,728,000 226,000 - - 460,000 21,414,000 System Charges.. - -
3,305,000 4,703,000 - 8,008,000 Other . . 13.366.000 -
483.000 667.000 872.000 15.388.000 Total - October 1,1993.. . 94.903.000 1.466.000 14.006.000 13.702.000 5.191.000 129.268.000 Add:
Income Earned on Restricted Assets . 2,634,000 39,000 430,000 301,000 27,000 3,431,000 Debt Service Funding.. 10,612,000 274,000 3,383,000 773,000 - 15,042,000 Renewal and Replacement Funding .. 16,780,000 1,206,000 3,490,000 4,723,000 250,000 26,449,000 increase in Other Reserve.. 887,000 445,000 - - 587,000 1,919,000 B:nd Proceeds.. - 9,084,000 27,057,000 - 5,235,000 41,376,000 Other . - 30,000 5,506,000 2,723,000 1,485,000 9,744,000 Deduct:
Pryment of Bond Principal.. (4,125,000) (71,000) (907,000) (222,000) (58,000) (5,383,000)
Tr:nsfer to Other Funds. - (3,285,000) (3,639,000) (562,000) - (7,486,000)
Interest and Fiscal Charges.. (6,487,000) (135,000) (2,577,000) (556,000) - (9,755,000)
Transfer of Fixed Assets cnd Expenses.. (19.893.000) (4 691.000) (8.534.000) (5.649.000) (5.049.000) (43.816.000)
Net increase in Reserved Retained Earnings.. 408.000 2.896.000 24.209.000 1.531.000 2.477.000 31 521.000
$95.311.000 $ 4.362.000 $38.215.000 $15.233.000 $ 7.668.000 $160.789.000 Resirved Retained Earnings:
Revenue Bond Reserve.. $11,923,000 $ 1,050,000 $ 5,940,000 $ 934,000 $ 1,959,000 $ 21,806,000 Sunshine State Construction . .
- 99,000 1,712,000 860,000 - 2,671,000 Revenue Bonds Renewal and Replacement. 30,475,000 475,000 5,870,000 7,779,000 2,306,000 46,905,000 Revenue Bonds Construction . 18,905,000 2,064,000 18,381,000 408,000 - 39,758,000 Operating Reserve . 21,569,000 674,000 - - 1,046,000 23,289,000 System Charges.. .
- - 5,234,000 4,556,000 - 9,790,000 Other . . . 12.439.000 -
1.078.000 696.000 _.;L157JQO 7 16.570.000 Total - September 30,1994. 595 311.000 $ 4 362.000 538 215.000 $15 233.000 $ 7.668 000 $160.789 000 t
B-41
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE Ill-(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.
Surshine State Construction:
Established in conjunction with the borrowing of funds from Sunshine State Govemmental Financing Commission and funded by transfers from the revenue accounts of the appropriate Enterprise Funds. The use of tne money is restricted to finance construction of certain water and sewer projects.
Revenue B0nds Renewal and Replacement:
Established in conjunction with the issuance of revenue bonds 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 of, 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 revenue bonds and investment earnings. The use of the money is restricted to the acquisition or construction of projects as indicated in the appropriate Bond Resolution.
Operating Reserve:
Established in conjunctio.. with the issuance of revenue bo%ds and funded by transfers from the revenue accounts of the appropriate enterprise 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 throu5n the collection of water and sewer system charges. The use of money is rertricted to extensions and expansicns cf the City's water and sewei systems.
Other Other reserves have been established by Commission action for specified purposes.
B-42
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS l September 30,1994 NOTE 111 -(Continued)
- 3. RESERVED FUND BALANCES AND RETAINED EARNINGS:
- o. Governmental and Expendable Trust Funds - Reserved fund balances indicate those po,tions of fund balances that are legally segregated for a specific use or not available for appropriation or expenditu e. The nature of these reserves are as follows: !
l Segember 30 '
1m 1993 General Fund - Reserved for.
Inventory.. $ 6,000 $ 10,000 Advance to Other Funds.. 408,000 473,000 Law Enforcement. - 15,000 Note Receivable.. 12,000 15,000 Encumbrances .. .. 1.953.000 1.182.000 Total General Fund.. 2.379.000 1.695.000 Special Revenue Funds - Reserved for:
Projects.. 12,345,000 11,852,000 Notes Receivable . 345.000 349.000 Total Snecial Revenue Funds.. 12.690.000 12.201.000 Debt Service Fund - Reserved for.
Current Debt Service.. 10,000 517,000 Future Debt Service.. 28 923.000 19.335.000 Total Debt Service Fund.. 28.933.000 19.852.000 Ctpital Projects Funds - Reserved for:
Encumbrances. 22,801,000 17,308,000 Projects.. 56,531,000 30,288,000 Advance to Other Funds.. . 837.000 893.000 Total Capital Projects Funds. 80.169.000 48.489.000 Expendable Trust Funds - Reserved for; Advance to Other Funds.. . 44,000 8,034,000 Fixed Assets.. , 1.378.000 1.031.000 Total Expendable Trust Funds.. 1 422.000 9.065.000 Total . $125 593 000 $91.303 000
- b. Internal Service Funds - Reserved retained eamings are restricted to indicate funds obligated as follows:
September 30 1994 1993 Reserved for.
Debt Service.. $ 742,000 $ 266,000 Fleet Management.. 29,350,000 26,672,000 Projects.. 1,784,000 1,546,000 insurance. 4.030.000 3.161.000 Total . $35.906 000 $31.645 000 B-43
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE lil-(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:
1994 1993 Generai Employees - Article !!.. $202,042,000 $183,474,000 Police Officers - Article Ill . 45,593,000 40,883,000 Firefighters - Article IV.. 40,306.000 36,931,000 General Defined Contribution - Article V.. 42.365.000 33.890.000 ;
Total.. , $330 306.000 5795.178.000 4, DESIGNATED FUND BALANCE The City has established a designation of fund balance wthin the Deficiencies and Emergencies Fund (an Expendable Trust Funo type) of $954,000 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.
T 1
t B44
CITY OF TALLAHASSEE, FLORIDA i NOTES TO FINANCIAL STATEMENTS l September 30,1994 I
i NOTE N . FINANCIAL SEGMENT INFORMATION OF ENTERPRISE FUNDS The City meentame eight E.e Furvie which pnwkle electric, ges, sewer, water, sLM mese tronoportation, send weste conection, and golf course operatumi services segment e,6.e.,,, for the year ended September 30,1994, was as foRows:
Total Electric Gas Sewer Water Airport Tatehoosee Sond Weste Golf Course Enterprise l Fund Fund Fund Fund Fund Transt Fund Fund Fund Funds l
l Operatir'g Revenues S 171,283.000 $ 13,668.000 $ 22,116,000 5 17,123,000 $ 6,173,000 $ 1,839.000 $ 13,472,000 $ 856,000 S 246.530,000 l
l Grant Rever=M S - 5 - S - S - S - S 1,463,000 S - S - 5 1,463.000 l
Depreciation and Amorttratton Empene. S 11,525,000 5 531,000 $ 2,546,000 $ 1,276.000 5 1,745.000 $ 671.000 $ 62,000 $ 79.000 $ 18,435,000 i
Operating income (Looe) $ 40,491,000 S 2,805,000 $ 2.549,000 5 5,981,000 $ (118,000) $ (6,155,000) $ 633,000 5 (504.000) $ 54,662.000
, Operating Transfers:
A in S 1,000 $ - S - S - S 155,000 $ 7,021,000 5 - S 867,000 5 8.044,000 un Out 5 (39,780,000) $ ( 2.750,000) S ( 879,000) $ ( 2,783.000) S (37,000) $ ( 786,000) S ( 6,000) $ (1,000) S (47,002.000)
Net income (Loos) $ 14.806.000 5 ( 84,000) S 5,921,000 $ 4,896,000 $ ( 734,000) $ 1,276,000 5 780,000 $ 385,000 5 27,046,000 Current CaptielContreutions S - S 19.000 $ - S - S 3,518,000 $ 289.000 S - S - S 3.806.000 Restricted Assets S 101,015,000 $ 4,567,000 S 39,761,000 $ 15,611,000 $ 11,179,000 5 - 5 1,130,000 $ 522,000 S 173,785.000 Ftred Assets:
Additions S 29,012,000 $ 2,465,000 $ 39,882,000 $ 7,841,000 $ 7,917,000 S 6,266,000 $ 158.000 5 556,000 $ 94.097,000 5
Disposeen S 545.000 $ 57,000 3 29.000 S 22,000 S 1,000 $ 3,675.000 $ 44,000 $ - S 4,373,000 Net Woridng e=ed=8 $ 17,994,000 $ 648.000 $ 1,704.000 5 915,000 $ 845,000 $ 1,296.000 $ 590,000 $ 123,000 $ 24.115.000 Total Assets. S 406,986,000 3 29,390,000 $ 172,480,000 $ 72,070,000 5 70,934,000 5 16,760,000 $ 3,267,000 $ 2.595,000 $ 774.482,000 Bonds and Other Leng4erm Liststles Paynble from Operating Rever=_== 5 115,203,000 S 13.691,000 $ 70,552,000 5 16,006.000 $ 21,570,000 S 120,000 5 320,000 S 30,000 $ 237,494,000 Total Fund Equity 5 268.246,000 S 14.990,000 $ 98.671,000 S 54.576,000 5 46,910,000 S 16,254.000 $ 2,118,000 S 2,499,000 $ 504,264,000
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE V - RELATED PARTIES A. JOINTLY OWNED ELECTRIC UTILITY PLANT in November 1975, the cities of Tallahassee (1.3333%), Alachua (0.0779%), Bushnell (0.0388%), Gainesville (1.4079%),
Kissimmee (0.6754%), Leesburg (0.8244%), Ocala (1.3333%), and Utiivies Commissions from ? Jew 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 authonty over the operations of the plant. CR3 revenue and operating maintenance costs, which represents the Electric Utihty's share of all revenue and expenses attributable to operation of CR3, are properly recorded in accordance with the instructions as set forth in the Uniform System of Accounts. Payments are made to Flonda Power Corporation in accordance with the CR3 participation agreement.
Condensed financial information is not available relating to the power plant.
The City has established a habihty of $3 4 million 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 Governmental Financing Commission (the Commission) which was developed as a pooled financing vehicle to allow for a hmited number of high quakty Florida local governmental 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 inte >st and, in some cases, principa: by the 15th of each month for the preceding month.
According to the iriterlocal 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 30,1994, 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 obhgation or risk associated with the Commission other than the repayment of its loan from the Commission (See Note ll1 B.S.e). Condensed financial information relating to the Commission as of September 30,1994, is as follows Total Assets.. $ 390,164,000 Total Operating Revenue.. $ 9,305,000 Total Liabikties . $ 390,164,000 Total Operating Expense . $ 11,214,000 Total Retained Earnings.. $ - Operating Loss.. $ 1,909,000 Non-Operating income $ 1,909,000 Net income . $ -
B-46
i l
CITY OF TALLAHASSEE, FLORIDA j NOTES TO FINANCIAL STATEMENTS September 30,1994 l
N3TE V -(Continued) ,
C. CO-TENANCY WITH LEON COUNTY RESEARCH AND DEVELOPMENT AUTHORITY During 1988 and 1989, the City and Leon County Research & Development Authority entered into certain agreements for the purpose of constructing and holding a building situated on 9.16 acres of land located in Innovation Park, Tcilahassee, Florida. The building was completed in 1989 at a cost of $2,800,000. During 1988, the land and :
building were leased to Tadiran Ltd. for an initial period of 15 years. The lease terms require annual rental of $1.00 during years 1 through 7 and $1.00 during years 8 through 10 provided that certain minimum employment levels are achieved. During years 11 through 15, the annual rental shall tm the fair market lease value with adjustments if the ten:nt exceeds certain employment levels. The lease requires the Tenant to pay all utilities and expenses associated with maintaining and 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 that they acquired their respective interest in the building as a separate and distinct ownership and do not intend by the Agreement to form or create a partnership, joint venture, organization or association of any kind. Each Tenant in Common is the direct owner of its respective interest in the building, each owning its undivided interest separate and cpart from the undivided interest of the other.
In the event that funds of the Co-Tenancy are insufficient to pay operating expenses or any other expenses, then the Ten:nts in Common shall contribute the necessary funds for such purposes in proportiori to their respective interest.
To the extent that either Tenant in Common does not contribute cash, the other Tenant in Common may lend money t3 the Co-Tenancy for such purpose. Such loan shall bear interest and have a priority claim on cash available for distribution.
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 Authority in proportion to their respective interest. However, distributions w:,ll not be made until the Co-Tenancy begins receiving fair market lease value payments under the ground and building ,
lease. ;
Condensed financial information relating to the Co-Tenancy as of September 30,1994 is as follows:
Tctri Assets.. $2,439,000 Total Operating Revenue.. $ -
Tetil Liabilities . $ - Total Operating Expense . $ -
Tot:1 Fund Equity . $2,439,000 Operating income.. $ -
Non-Operating income . $ -
l Depreciation Expense.. . $ 70,000 Net Loss.. . $ 70,000 ,
D. RAILROAD FUND INTERLOCAL AGREEMENT WITH LEON COUNTY in September 1992, the City entered into en interlocal agreement with Leon County concoming the application for j funding, acquisition, construction, operation and maintenance responsibilities for the new railroad station site. The j City received grant funding from the Department of Transportation, State of Florida, through a " Joint Participation j Agreement", in the amount of $960,000 during the 1992-93 fiscal year. 1 The City has the responsibility of obtaining and administering all contracts required for construction, remodeling, and cll future operation and maintenance. The City has contracted for the provision of all necessary liability and property ,
d: mage insurance, with a minimum per occurrence limit of $5,000,000 for general liability insurance and full i replacement coverage t a property damage. Further, the City provides all necessary staffing, managerial, operational i tnd accounting funcbons for the railroad station site. To satisfy its fiduciary responsibility, the City records the railroad operations in an Expendable Trust Fund.
Accordmg to the intertocol agreement, the City and County shall share equally in the financial responsibility for the ccquisition, renovation, operation and maintenance of the railroad station site. The City of Tallahassee and Leon Ccunty contributed $100,000 each to fund the necessary construction and remodeling of the railroad station site. The City's equity investment in this joint venture is accounted for in the General Fixed Assets account group. Excess revenues over expendrtures will be shared equally and deficits funded on a 50/50 basis by the City and Leon County at the end of each fiscal year.
B-47 l
[L CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE VI- CONTINGENCIES A. LITIGATION The City is involved in pending lawsuits. The City At'.orney 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, B. FEDERAL AND STATE GRANTS The City participates in a number of federal and state assisted programs, principal of which are the Federal Transit Administration, Community Development 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, 1994 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. ,
b i
l B-48 l
l CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1994 NOTE Vil- SUBSEQUENT EVENTS CSUANCE OF SPECIAL PURPOSE REVENUE BONDS On November 9,1994, the City Commission adopted resolution number 94-R-0052 authorizing issuance of the City of Tall hassee Special Purpose Revenue Bonds not to exceed $10,000,000. The City is planning to serve as a conduit issuer of bonds for the Florida League of Cities to finance, in part, the construction of their new headquarters building in the C pital Commons. The maximum construction budget estimate for this project is currently set at $10,000,000 and the bonds would be issued pursuant to an indenture of trust between the City and trustee, with the Florida League of Cities' being solely responsible for the repayment of the bonds, with no resulting liability to the Oity.
i B-49
i THIS PAGE INTENTIONALLY LEFT BLANK
i COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP-STATEMENTS AND SCHEDULES These financial statements provide a more detailed view of the " General Purpose Financi $1 Statements" presented in the preceding sections.
Combining statements are presented when there are more than one fund of a given fund type.
I I
GOVERNMENTAL FUNDS GENERALFUND SPECIAL REVENUE FUNDS DEBT SERVICE FUND CAPITAL PROJECTS FUNDS GENERAL FUND The General Fund accourts for all financial resources not properly accounted for in another fuad.
CITY OF TALLAHASSEE, FLORIDA GENERALFUND BALANCE SHEET September 30 i 1994 1993 ASSET 3 Cash and Cash Equivalents.. $ 5,168,000 $ 3,998,000 1 Receivables:
Customers.. 671,000 689,000 Accounts.. 1,408,000 1,200,000 Note.. 12,000 15,000 Property Taxes-Delinquent. 80,000 82,000 Less: Allowance for Doubtful Accounts. (150,000) (133,000)
Due from Other Funds.. , 86,000 98,000 Advance to Other Funds.. 408,000 473.000 inventory.. 6.000 10.000 Total Assets. . . ......-.......5 7,689.000 5 6.432.000
{
LIABILITIES AND FUND BALANCE ,
Liabilities: i Accounts Payable.. $ 1,665,000 $ 1,457,000 Due to Other Funds.. 52,000 59,000 Deferred Revenue.. 382.000 218,000 ,
Total Liabilities. . . . . . . . . 2.099,000 1,734,000 Fund Balance: ,
Reserved far; i inventory.. 6,000 10,000 Advance to Other Funds.. 408,000 473,000 Law Enforcement.. - 15,000 ,
Note Receivable.. ..
12,000 15,000 Encumbrances., 1,953,000 1,182,000 Total Reserved . . . . . .... 2,379,000 1,695,000 Unreserved /Undesignated.. 3.211.000 3,003,000 Total Fund Balance . . ...... .. . .. .. 5.590,000 4.698,000 Total Liabilities and Fund Balance..... .. 5 7,689.000 5 6.432.000 l
\
C.1 l
CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF REVENUE Fiscal Year Ended September 30 1994 1993 Actual Actual on Variance- on Budgetary Favorable Budgetary Budget Basis (Unfavorable) ,
Basis Taxes:
Ad Valorem . $ 11,000,000 $ 10,906,000 $ ( 94,000) 7 10,124,000 Public Service Taxes:
Electricity. ... 7,200,000 7,199,000 (1,000) 7,061,000 Telecommunications.. 3,450,000 3,540,000 90,000 2,529,000 W ater.. 1,013,000 991,000 (22,000) 1,009,000 Gas. - 683,000 698,000 15,000 602,000 Propane.. 146,000 180,000 34,000 161,000 Fuel Oil.. . 60,000 39,000 (21,000) 32,000 Franchise Fees:
Telephone.. .. 912,000 905,000 (7,000) 946,000 Cable Television.. 800,000 803,000 3.000 797,000 Total Taxes . . . . 25.264,000 25.261,000 (3.000) 23.261,000 Licenses and Permits:
Occcpational 1,006,000 1,083,000 77,000 926,000 ,
Buildsg Permits.. 910,000 972,000 62,000 804,000 Other... 546.000 614,000 68,000 504.000 Total Licenses and Permits..... .. 2.462,000 2.669,000 207,000 2,234.000 Intergovernmental Revenue:
Federal Grants:
Economic Environment... 450,000 516,000 66,000 345,000 Transportation.. 317,000 159,000 (158,000) 192,000 State: '
State Grants . - 30,000 30,000 -
Shared Revenues:
Local Govemment 1/2 Cent Sales Tax . 5,800,000 5,696,000 (104,000) 5,278,000 Two-Cent Cigarette Tax.. 276,000 287,000 11,000 272,000 Revenue Sharing.. .. 3,150,000 3,188,000 38,000 3,318,000 Mobile Home Licenses.. 59,000 35,000 (24,000) 35,000 Alcoholic Beverage License.. 85,000 83,000 (2,000) 74,000 Transportation.. - - - 1,029,000 Public Safety-Firefighters' Supplemental Compensation.. 26,000 21,000 (5,000) 26,000 County-City Share of County Occupational Licenses.. 103,000 113,000 10,000 138,000 Payments-in-Lieu-of. Taxes.. ..
- 1,000 1,000 -
Totalintergovemmental Revenue . .. 10.266,000 10,129.000 (137,000) 10,707,000 C-2 ,
l y CITY OF TALLAHASSEE, FLORIDA l GENERAL FUND SCHEDULE OF REVENUE (Continued)
Fiscal Year Ended September 30 1994 1993 Actual Actual on Variance- on Budgetary Favorable Budgetary Budget Basis (Unfavorable) Basis Charges for Services:
General Govemment Charges:
Zoning Fees.. 5 145,000 5 144,000 5 ( 1,000) 5 126,000 County for Planning Dept... 786,000 778,000 (8,000) 877,000 Cost Allocation.. 4,875,000 4,918,000 43,000 4,586,000 Sale of City Code Books.. 3,000 1,000 (2,000) 4,000 Public Safety Charges:
Police Services . 44,000 64,000 20,000 43,000 County for Fre Protection., 2,200,000 2,206.000 - 2,133,000 Physical Environment Charges:
Let Mowing and Clearing , 8,000 9,000 1,000 8,000 Environmental Anatysis.. 28,000 33,000 5,000 30,000 Concurrency Fees.. 48,000 48,000 - 37,000 Transportation Charges:
Parking Facility.. 658,000 674,000 16,000 601,000 Trame Signal Maintenance.. 22,000 51,000 29,000 32,000 Parking Meter Receipts.. 320,000 324,000 4,000 280,000 Right-of-Way Maintenance.. 295,000 295,000 - 283,000 Human Services Charges:
Animal Shelter Fees.. 118,000 52,000 (66,000) 103,000 Parks and Recreation:
Program Actmty Fees . 796,000 740,000 (56,000) 738,000 Swimming Pools.. 122,000 124,000 2,000 95,000 Other.. 33,000 43,000 10,000 23,000 County for Parks and R creation.. 1.059,000 1,059.000 - 886,000 Total Charges for Services 11,566.000 11,563,000 (3.000) 10,945,000 Fines and Forfeitures:
Trafrc Fines.. 866,000 817,000 (49,000) 797,000 Parking Violations.. 570,000 555,000 (15,000) 509,000 Police Education.. 17,000 15,000 (2.000) 15,000 Total Fines and Forfeitures.... .. . .. 1,453.000 1,387,000 (66.000) 1,321,000 l
Miscellaneous Revenues:
Interest.. 375,000 326,000 (49,000) 296,000 Rents and Royatties.. 203,000 205,000 2,000 200,000 Sales:
Cemetery Lots . 144,000 171,000 27,000 135,000 Surplus Trame Materials.. - - - 23,000 Other 450,000 738,000 288.000 460,000 Total Miscellaneous Revenue. . . 1.172,000 1,440.000 268,000 1,114,000 Total Revenue $ 52.183.000 $ 52.449.000 $ 266.000 $ 49.582,000 C-3 u
m__._..__._ _
CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES Fiscal Year Ended September 30 1994 1993 Actual on Variance-Budgetary Favorable ,
Budget Basis (Unfavorable) Actual Actual ,
General Govemment:
Legislative City Commission Personal Services.. 5 350,000 5 347,000 5 3,000 5 347,000 5 326,000 Other Operating.. 75,000 73,000 2,000 77,000 77,000 Capital Outlay.. 10,000 10,000 - 10,000 1,000 Total Legislative ... 435,000 430,000 5,000 434,000 404,000 Executive City Manager Personal Services.. . 665,000 699,000 (34,000) 699,000 640,000 Other Operating., 208,000 204,000 4,000 189,000 183,000 Capital Outlay... . 3.000 3,000 - 3.000 -
876,000 906.000 (30,000) 891,000 823,000 Community Relations Personal Services.. 207,000 207.000 - 207,000 -
Other Operabng.. 12,000 12,000 - 12,000 -
219,000 219,000 - 219,000 -
Total Executive ~..... 1,095,000 1,125,000 (30.000) 1,110,000 823,000 Friancial and Administrative Treasurer-Clerk Personal Services.. 476,000 478,000 (2,000) 477,000 453,000 Other Operatng., 189,000 188,000 1,000 194,000 264,000 665,000 666,000 (1,000) 671,000 717,000 Management and Budget Personal Services.. 689,000 625,000 64,000 625,000 548,000 Other Operatng.. . 290,000 280,000 10,000 282,000 281,000 Capital outlay.. 3.000 3,000 - 3,000 -
982,000 908.000 74.000 910.000 829,000 Records Management Personal Services.. 373,000 370,000 3,000 370,000 333,000 Other Operatng.. 258,000 222,000 36,000 232,000 201.000 Capital Out!ay.. 56,000 55,000 1,000 2,000 -
687,000 647,000 40,000 604,000 534,000 Real Estate Personal Services.. 282,000 284,000 (2,000) 284,000 266,000 Other Operating.. 378,000 351,000 27,000
- 349,000 286,000 660,000 635,000 25,000 633,000 552,000 C-4
CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES (Continued)
Fiscal Year Ended September 30 1994 1993 Actual on Variance-Budgetari Favorable Budget Basis (Unfavorable) Actual Actual General Services Personal Services 5 212,000 $ 219,000 $ ( 7,000) $ 219,000 5 204,000 Other Operating.- 191,000 191,000 - 190,000 153,000 403,000 410,000 (7,000) 409.000 357,000 Internal Audet Personal Services.. 377,000 359,000 18,000 359,000 355,000 Other Operatng.. , 53,000 46,000 7,000 46,000 43.000 430,000 405,000 25,000 405,000 398,000 Total Financial and Administrative ... . .. 3,827,000 3,671,000 156,000 3,632,000 3,387,000 Legal Personal Services., 801,000 786,000 15,000 786,000 601,000 Other Operating . 621,000 494,000 127,000 477,000 912,000 Capital Outlay... 4,000 4,000 - 4,000 53,000 Total Legal. 1,426,000 1,284,000 142,000 1.267,000 1,566.000 Planning C mprehensive Planning P:rsonal Services.. 1,787,000 1,763,000 24,000 1,763,000 1,501,000 Other Operatog.. 410,000 392,000 18,000 389,000 375,000 Capital Outlay.. - - - - 17,000 2,197,000 2,155,000 42,000 2,152,000 1,893.000 Growth Management P:rsonal Services.. 586,000 563,000 23,000 563,000 474,000 Other Operating.. 391,000 315,000 76,000 312,000 395,000 Capital Outlay.. - - - - 2,000 977,000 878.000 99,000 875,000_ 871,000 ,
Total Planning.. .. . .... 3,174,000 3,033,000 141,000 3,027,00 i _ 2,764,000 P
C-5
l l
CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES (Continued) ,
l Fescal Year Ended September 30 J 1994 1993 Actual on Vanance- l Budgetary Favorable '
Budget Basis (Unfavorable) Actual Actual Other General Govemment Public Works Admirnstration Personal Services. 5 393,000 5 337,000 5 56,000 5 337,000 5 369,000 Other Operstng - 1,419,000 1,454,000 (35,000) 1,454,000 1,287,000 Capital Outlay.. 5,000 4,000 1,000 - -
1,817,000 1,795.000 22,000 1,791,000 1,656.000 P
Non-Departmental Other Operetng , 1,014,000 871,000 143,000 746,000 738,000 1,014,000 871,000 143,000 746.000 738.000 Code Enforcement Board ;
Personal Services.. 67,000 67,000 - 67,000 65,000 Other Operahng., 9,000 9,000 - 9,000 12,000 76,000 76,000 - 76,000 77,000 City Hall Maintenance Personal Services.. 374,000 384,000 (10,000) 384,000 359,000 Other Operatng . 773,000 643,000 130,000 616,000 628,000 Capital Outlay.. 27,000 25,000 2,000 3,000 -
1,174,000 1,052,000 122,000 1,003,000 987,000 '
Cable Communicabons !
Personal Services.. 87,000 87,000 - 87,000 82,000 ,
Other Operabng.. 163,000 163,000 - 67,000 15,000 Capital Outlay.. 2,000 2,000 - 2,000 -
252,000 252,000 - 156,000 97,000 Intergovemmental Relatons Personal Services.. 219,000 219,000 - 219,000 397,000 Other Operatng.. 81,000 81,000 - 67,000 138,000 Capita! Outlay,. 5,000 5,000 -
5.000 -
305.000 305,000 - 291,000 535,000 Total Other General Govemment. ....
...... 4.638,000 4,351,000 287,000 4,063.000 4,090,000 Total General Govemment. .. 14,595,000 13,894,000 701,000 13.533,000 13.034,000 C-6
CITY OF TALLAHASSEE, FLORIDA -
GENERAL FUND SCHEDULE OF EXPENDITURES ,
(Cononued)
Fiscal Year Ended September 30 1994 1993 Actual on Variance-Budgetary Favorable !
Budget Basis (Unfavorable) Actual Actual f
Law Enforcement Personal Services.. 5 18,089,000 5 17,778,000 5 311,000 5 17,778,000 5 17,097,000 ,
Other Operatng . .. 4,747,000 4,685,000 62,000 4,482,000 5,309,000 Capital Outlay. 69,000 66,000 3,000 127,000 103,000 ,
Total Law Enforcement.. . . 22,905,000 22,529,000 376,000 22,387,000 22,509,000 Fire Control Personal Services.. 9,396,000 9,304,000 92,000 9,304,000 8,818,000 Other Operatng.. 2,497,000 2,474,000 23,000 2,358,000 2,768,000 i Capital Outlay... 185,000 179,000 6,000 37,000 176,000 Total Fire Control. .- 12,078,000 11,957,000 121,000 11.699,000 11,762,000 Prrtectve inspecton Building inspecton Personal Services.. 1,077,000 1,043,000 34,000 1,043,000 1,051,000 Other Operating.. 139,000 123,000 16,000 120,000 122,000 1 Capital Ounay.. 3,000 3,000 - 3,000 - >
1,219.000 1,169,000 50,000 1,166,000 1.173,000 ,
Code Enforcement Personal Services.. 337,000 333,000 4,000 333,000 - 319,000 Other Operatng , 80,000 41,000 39,000 39,000 36,000 Capital Outiay., 1,000 - 1,000 - -
418,000 374.000 44,000 372.000 355,000 ,
Tctal Protective inspection. 1,637,00 1 1,543,000 94,000 1,539,000 1,528,000 Tctal Public Safety .... 36.620,000 36,029,000 591,000 35,624,000 35,799,000 Tr nsportation:
Road and Street Facilites ;
Street Lighting Personal Services.. 115,000 118,000 (3,000) 118,000 53,000 Other Operatng . 1,437,000 987,000 450,000 987,000 1,049,000 1,552,000 1,105,000 447,000 1,105,000 1,102,000 -
Right-Of-Ways Personal Services.. . 1,486,000 1,424,000 62.000 1,424,000 1,379,000 Other Operabng . 380,000 383,000 (3,000) 375,000 439,000 Capital Outlay... 11,000 10,000 1,000 10,000 6,000 1,877,000 1,817,000 60.000 1,809,000 1,824,000 i
i I
r CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES (Continued)
FiscalYear Ended September 30 1994 1993 Actual on Variance-Budgetary Favorable Budget Basis (Unfavorable) Actual Actual Streets Personal Services.. $ 2,230,000 $ 2,163,000 $ 67,000 $ 2,163,000 $ 1,837,000 Other Operating.. 1,290,000 1,325,000 (35,000) 1,324,000 1,490,000 Capital Outlay . . 32,000 24,000 8,000 39,000 12,000 3,552,000 3,512,000 40,000 3.526,000 3,339,000 Trame Engineenng Personal Services., 1,615,000 1,596,000 19,000 1,596 000 1,30 t,00 other Operabng . 722,000 768,000 (46,000) 770,000 787,000 Capital Outlay.. 37,000 37,000 - 14,000 11,000 2,374,000 2,401,000 (27,000) 2,380,000 2,196,000 Landscape and Tree Maintenance i , onal Services.. 338,000 321,000 17,000 321,000 310,000 Other Operabng . 112,000 102,000 10,000 102,000 122,000 Capital Outlay... . . . . 39,000 39,000 - 9,000 -
489,000 462,0n0_ 27,000 432,000 432,000 Total Road and Street Facilities.. ... ... .. 9,844,000 9,297,000 547,000 9,252,000 8,893,000 Parking Facilites Other Operabng.. 313,000 287,000 26,000 287,000 281,000 TotalTransportation. . 10,157,000 9,584,000 573,000 9,539,000 9,174,000 Human Services:
Smith-Williams Center Personal Services.. 129,000 125,000 4,000 125,000 127,000 Other Operabng.. 47,000 44,000 3.000 44,000 46.000 176,000 169,000 7.000 169.000 173,000 Senior Citgen Center Personal Services.. 199,000 188,000 11,000 188,000 172,000 Other Operabng.. 80,000 73,000 7,000 74,000 80,000 Capital outlay... 6,000 5,000 1,000 5,000 -
285,000 266,000 19,000 267,000 252,000 Uncoln Center Personal Services.. 137,000 138,000 (1,000) 138,000 132,000 Other Operabng . 88,000 78,000 10,000 75,000 81,000 Capital Outlay. - - - - 1,000 225,000 216,000 9,000 213.000 214,000 C-8
l CITY OF TALLAHASSEE, FLORIDA l GENERAL FUND l SCHEDULE OF EXPENDITURES (Continued)
Fiscal Year Ended September 30 1994 1993 Actual on Variance-Budgetary Favorable ;
Budget Basis (Unfavorable) Actual Actual Administrabon ;
Personal Services.. 5 271,000 $ 270,000 5 1,000 8 270,000 $ 243,000 Other Operabng.. 702,000 691,000 11,000 678,000 772,000 ;
Capital Outlay.. 17.000 17,000 - - -
990,000 978,000 12,000 948,000 1,015.000 i
Human Resource Development Personal Services.. 150,000 147,000 3,000 147,000 138,000 Other Operabng.. 345,000 320,000 25,000 367,000 343,000 Capital Outlay.. _ 1,000 1,000 - - 6,000 (
496,000 468,000 28,000 514,000 487,000 Housing Trust Operatons Personal Services.. 315,000 306,000 9,000 306,000 190,000 >
Other Operabng., 84,000 84,000 - 146,000 21,000 .
Capital Outiay.. 2,000 2,000 - 4,000 14,000 l
401,000 392,000 9.000 456.000 225,000 i
Total Human Services . 2.573,000 2.489.000 84,000 2,567,000 2.366,000
[
Economic Environment:
industry Development Minonty Business Offee P:rsonal Services., , 147,000 148,000 (1,000) 148,000 139,000 ,
Other Operahng . 38,000 39,000 (1,000) 19,000 18,000 i Capital Outlay.. - - - - 10,000 ,
185,000 187,000 (2.000) 167,000 167,000 !
[
Downtown Development Offee P:rsonal Services... ..-.. - - - - 140,000 ;
Other Operating . - - - - 11,000 ;
.- - - - 151,000 ,
Totalindustry Development. . . 185,000 187,000 (2,000) 167,000 318.000
" + sing and Urban Development Pctsonal Services.. 217,000 220,000 (3,000) 220,000 253,000 !
Other Operabng . 303,000 285,000 18,000 285,000 192,000 Capital Outlay.- 1,000 1,000 - - 2,000 521,000 506,000 15,000 505,000 447,000 Total Economic Environment.. 706.000 693,000 13.000 672,000 765.000 r
C-9
CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES (Continued)
Fmeal Year Ended September 30 1994 1993 Actual on Vanance-Budgetary Favorable Budget Basis (Unfavorable) Actual Actual Physical Environment:
Environmental Services Personal Services.. , 5 913,000 $ 868,000 5 45,000 $ 868,000 5 920,000 Other Operabng., 113,000 101,000 12,000 83,000 113,000 Capital Outlay.. .
- - - - 13,000 1,026,000 969.000 57,000 951,000 1,046.000 Cemeteries Personal Services., 80,000 77,000 3,000 77,000 76,000 '
Other Operating , 244,000 205,000 39.000 202,000 209,000 324,000 282,000 42,000 279,000 285,000 Engineering Personal Services.. 1,348,000 1,232,000 116,000 1,232,000 1,084,000 Other Operstng.. , 161,000 143,000 18,000 143,000 164,000 Capital Outlay.. 14,000 13,000 1,000 - 32,000 1,523,000 1,388,000 135,000 1,375,000 1,280,000 ,
Total Physical Environment. .. 2,873,000 2,639,000 234,000 2,605,000 2,611,000 i Culture and Recreation:
Administration Personal Services., 492,000 513,000 (21,000) 513,000 568,000 Other Operating.. 803,000 793,000 10,000 791,000 730,000 Capital Outlay... 58.000 58,000 - 30,000 -
1,353,000 1,364,000 (11,000) 1,334,000 1,298,000 ;
Grounds and Faciirties..
Personal Service.. 2,437,000 2,390,000 47,000 2,390,000 2,090,000 Other Operahng.. 1,112,000 1,104,000 8,000 1,087,000 1,186,000 Capital Outlay.. 159.000 145,000 14,000 44,000 32,000 3,708.000 3.639,000 69,000 3.521,000 3,314,000 Recreaton Personal Services.. 1,469,000 1,436,000 33,000 1,436,000 1,267,000 Other Operatng.. 461,000 421,000 40,000 414,000 419,000 Capital Outlay.. 8,000 7,000 1,000 6,000 10,000 1,938,000 1,864,000 74,000 1,856,000 1,696,000 Athletics Personal Services.. 1,155,000 1,095,000 60,000 1,094,000 964,000 i Other Operating . 464,000 433,000 31,000 410,000 411,000 l Capital Outlay.. 19,000 19.000 -
19.000 7,000 1,638,000 1,547,000 91,000 1,523,000 1,382,000 Total Culture and Recreauon.. . 8,637,000 8.414,000 223 000 8,234,000 7,690.000 j Total Expenditures. 5 76,161,000 $ 73,742,000 $ 2,419,000 $ 72,774,000 $ 71,439,000 C-10 I
CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF TRANSFERS FiscalYear Ended September 30 1994 1993 Variance Favorable BudDet Actual (Unfavorable) Actual Cperating Transfers:
Operating Transfers in:
Electric Fund - 5 39,500,000 $ 39,509.000 $ 9,000 $ 40,260,000 Water Fund.. 2,783,000 2,783,000 - 2,669,000 Gas Fund.. 2,748,000 2,748,000 - 2,094,000 Sewer Fund.. 685,000 685,000 - 691,000 Special Projects Fund.. - 67,000 67,000 33,000 Denciencies and Emergencies Fund.. - 584,000 584,000 -
Total Operating Transfers in . . -. 5 45,716.000 5 46,376,000 5 660,000 5 45,747,000 Operating Transfers Out Capitalimprovement Fund.. $ 9.115,000 $ 12,592,000 $ ( 3,477,000) $ 12,864,000 Tallahassee Transit Fund . 7,375,000 6,863,000 512,000 4,102,000 Deficiencies and Emergencies Fund.. - - - 885,000 Golf Course Fund . 626,000 867,000 (241,000) 923,000 Debt Service Fund.. 4,185,000 4,289,000 (104,000) 4,722,000 Special Projects Fund.. 331,000 331,000 - 328,000 Electric Fund.. - - - 9,000 Solid Waste Fund.. 106,000 - 106,000 -
Sewer Fund.. .. - - - 51,000 Total Operating Transfers Out.. .... ., 5 21.738.000 5 24.942,000 5 ( 3.204.000) 5 23,884,000 R:sidual Equity Transfer:
Residual Equity Transfer Out Railroad Fund.. 5 - $ 20.000 $ ( 20.00g 5 -
F I
C-11
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SPECIAL REVENUE FUNDS i
Special Projects Fund--to account for Federal, State, local and other ;
revenues that are to be used for specific general government purposes. ,
3 Stormwater Management Fund-to account for fees restricted for l stormwater operating and capita 2 costs. l Law Enforcement Forfeiture Fud-- to account for forfeitures received :
by the City as prescribed by Florida Statutes. !
i n
4
+
CITY OF TALLAHASSEE, FLORIDA SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET September 30,1994 Law Totals Special Stormwater Enforcement September September [
Projects ManaDement Forfeiture 30,1994 30,1993 ASSETS i Cash and Cash Equivalents.. 5 6,765,000 8 8,345,000 5 219,000 5 15,329,000 5 13,127,000 investments- .
- - - - 645,000 ;
. Notes Receivable.. 345,000 - - 345,000 349,000 '
Accounts Receivable.. 508,000 417,000 - 925,000 775,000 Total Assets . .. . . 5 7,618,000 5 8,762,000 5 219.000 5 16,599,000 5 14,896,000 LIABILITIES AND FUND BALANCES ,
Liabliltles: ,
Accounts Payable.. 5 406,000 5 113,000 5 5,000 5 524,000 5 399,000 l Diferred Revenue.. . 391,000 - - 391,000 -
Total Liabilities . . .... . 797,000 113,000 5,000 915,000 399,000 Fund Balances:
Res:rved for:
Pcjects.- 6,476,000 5,776,000 93,000 12,345,000 11,850,000 Notes Receivable.. 345,000 - - 345,000 349,000 :
Tctal Reserved. . .. . .. . .... 6,821,000 5,776,000 93,000 12,690,000 12,199,000 Unr: served /Undesignated.. ..-..
- 2,873,000 121,000 2,994,000 2,298,000 Tctal Fund Balances. ... . . . . . 6,821,000 8,649.000 214,000 15.684,000 14,497,000 Tetal Liabilities and Fund Balances . ,.. . ... 5 7,618.000 $ 8,762,000 5 219,000 5 16,599,000 5 14,896,000 i
C-13
i CITY OF TALLAHASSEE, FLORIDA j SPECIAL REVENUE FUNDS ,
COMBINING STATEMENT OF REVENUES, EXPENDITURES l AND CHANGES IN FUND BALANCES !
For the Fiscal Year Ended September 30,1994 Law Totals Special Stormwater Enforcement September September ;
Projects Management Forfeiture 30,1994 30,1993 Hevenues:
Intergovemmental Revenues.- 5 1,808,000 $ - 5 - 5 1,808,000 5 2,153,000 Charges for Services.. - 6,912,000 - 0,912,000 6,777,000 Fines and Forfeitures.. - - 62,000 62,000 71,000 interest Eamed.. 156,000 357,000 11,000 524,000 350,000 Macellaneous Revenues.. 403,000 14,000 - 417,000 92,000 Total Revenues. . ... . . . 2,367,000 7,283.000 73,000 9,723,000 9.443,000 i Expenditures:
Current General Govemment... 639,000 - 2,000 641,000 228,000 e Public Safety., . 188,000 - 91,000 279,000 248,000 Transportation.. 355,000 - - 355,000 1,015,000 Human Services.. . 913,000 - 14,000 927,000 633,000 Economic Environment... 1,639,000 - - 1,639,000 1,320,000 Physical Environment.. 253,000 4,629,000 - 4,882,000 5,821,000 Cultural and Recreation.. 65,000 - - 65,000 98,000 Capital Outlay.. 16,000 - 32,000 48,000 511,000 Total Expenditures. ., . . . . . . . 4,068,000 4,629,000 139,000 8,836.000 9,874,000 Excess of Revenues Over (Under) Expenditures. (1,701,000) 2,654,000 (66,000) 887,000 (431,000)
Other Financing Sources (Uses):
Operating Transfers in.. 1,156,000 - 15,000 1,171,000 2,927,000 ,
Operating Transfers Out... (870,000) (1,000) - (871,000) (232,000)
Total Other Financing Sources (Uses) 286.000 (1,000) ,
15,000 300,000 2,695,000 Excess of Revenues and Other Financing l Sources Over (Under) Expenditures and Other Financing Uses. . . . . . . (1,415,000) 2,653,000 (51,000) 1,187,000 2,264,000 Fund Balances - October 1.. 8,236,000 5,996.000 265,000 14,497,000 12.233,000 Fund Balances - September 30 .. . .. ... S 6.821,000 $ 8.649,000 $ 214,000 $ 15,684,000 $ 14.497,000 C-14
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DEBT SERVICE FUND l To account for the accumulation of resources for, and the payment of general long-term debt principal and interest.
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CITY OF TALLAHASSEE, FLORIDA DEBT SERVICE FUND BALANCE SHEET September 30 1994 1993 ,
ASSETS Cash and Cash Equivalents., 5 10,000 $ 3,587,000 investments.. . . 28,777,000 15,828,000 Accrued Interest Receivable.. 80,000 373,000 Deposits.. . 66,000 64,000 Total Assets . , ... . ... . . . . .. 5 28,933,000 $ 19,852,000 FUND BALANCES Fund Balance:
Reserved for:
Current Debt Service., $ 10,000 $ 517,000 Future Debt Service., 28,923,000 19,335,000 Total Reserved . . . . . . . . . . . 28,933,000 19,852,000 Total Fund Balance . . .. . . 5 28,933,000 $ 19,852,000 DEST SERVICE FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE Fiscal Year Ended September 30 1994 1993 Revenue:
Interest Eamed.. 5 1,912,000 $ 958,000 r
Expenditures:
Debt Service:
Principal Retirement... 3,688,000 16,932,000 Interest and Fiscal Charges., 2,658,000 3,583,000 Refunding Bond issuance Costs.. 277,000 549,000 i Total Expenditures. ..... . . 6,623.000 21,064,000 Excess of Revenues (Under) Expenditures . . . . . . . . (4,711,000) (20.106,000)
Other Financing Sources (Uses):
Proceeds from Refunding Bonds., 24,965,000 19,670,000 Operating Transfers in.. . 13,504,000 5,014,000 Advance Refundog Escrow... (24,677,000) (1,482,000)
Total Other Financing Sources (Uses).... . ... . . . 13,792.000 23,202,000 Excess of Revenues and Other Financing Sources Over i Expenditures. . . . . . . . . . , . . 9,081,000 3,096,000 Fund Balance - October 1. 19,852,000 16,756,000 Fund Balance - September 30. . .
5 28,933,000 $ 19,852,000 l C-15 1
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THIS PAGE INTENTIONALLY LEFT BLANK 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 constmetion of transportation improvements.
Sales Tax Construction Fund-to account for tax proceeds used for the acquisition or construction of public safety and transponation improvements.
Gas Tax Construction Fund--to account for tax proceeds used for the acquisition or construction of transpodation improvements.
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CITY OF TALLAHASSEE, FLORIDA CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET September 30,1994 Capital Transportation Totals Capital Bonds impact Fees Sales Tax Gas Tax September September improvement Construction Construction Construction Construction 30,1994 30,1993 ASSETS Cash and Cash Equivalents 5 41,255,000 5 2,984,000 5 5,471,000 5 34,814,000 5 1,366,000 5 85.890,000 $ 75,520,000 Accounts Receivable _ -- 2,000 - - - 218,000 220,000 256,000 Accrued interest Receivable._ 62,000 - - - - 62,000 76,000 Investments.. . . . . . . 584,000 12.266,000 - 921,000 - 13,771,000 21,238,000 :
Special Assessment Receivable:
Current... .. _ 133,000 - - - - 133,000 282,000 Deferred. 46,000 - - - - 46,000 165,000 Advance to Other Fund = 837,000 - - - - 837,000 893,000 Due from Other Funde 316,000 - - - - 316,000 145,000 Due from Other Govemments... - - - - - - 11,000 Total Assek 5 43,235,000 5 15,250.000 5 5.471,000 5 35,735,000 5 1.584.000 5 101,275,000 5 98,586,000 LIABluTIES AND FUND BALANCES Liabilities:
Accounts Payable 5 35,000 5 14,000 5 - 5 4,000 5 21,000 $ 74,000 5 38,000 S Due to Other Govemments.- - - 251,000 - - 251,000 170,000
" Retainage Payable 386,000 1,510,000 - 773,000 29,000 2,698,000 1,993,000 Deferred Revenue 84,000 - - - - 84,000 169,000 Total Liabilities 505,000 1,524,000 251,000 777,000 50,000 3,107,000 2,370,000 Fund Balances:
Reserved for:
Encumbrance = 6,243,000 9,471,000 1,353,000 5,647,000 87,000 22,801,000 17,308,000 Projects.. 29,969,000 4,204,000 - 20,962.000 1,396,000 56,531,000 30,288,000 ;
Advance to Other Fund =_ 837,000 - - - - 837,000 893,000 Total Reserved 37,049,000 13,675,000 1,353,000 26,609,000 1,483,000 80,169,000 48,489,000 Unreserved /Undesignated.- 5,681,000 51,000 3,867,000 8,349,000 51,000 17,999,000 47,727,000 Total Fund Balance = 42,730,000 13,726,000 5,220,000 34,958,000 1,534,000 98,168,000 96,216,000 Total Liabilities and Fund Balances 5 43,235,000 5 15.250,000 5 5.471,000 5 35,735,000 5 1,584,000 5 101,275,000 5 98.586,000 i
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CITY OF TALLAHASSEE, FLORIDA CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES l For the Fiscal Year Ended September 30,1994 Capital Transportaben Totals Capital Bonds impact Fee Sales Tax Gas Tax September September Improvement Construction Construebon Construebon Construction 30,1994 30,1993 Revenues:
Local Opton Sales Tax.-- 5 - S - 5 - $ 9,863,000 5 - $ 9,863,000 $ 9,049,000 1.ocal Option Gas Tax. - - - - 3,128,000 3,128,000 3,152,000 Special Assessment Revenues 80,000 - - - - 80,000 91,000 Intergovemmental Revenue .
- - - - - - 856,000 Charges For Services.- - 1,000 1,112,000 - - 1,113,000 1,124,000 Interest Eamed. 1,931,000 754,000 259,000 1,509,000 69,000 4,522,000 4,094,000 MisceNaneous - 586,000 - - - - 586,000 542,000 Total Revenue
- 2,597,000 755,000 1,371,000 11,372,000 3,197,000 19,292,000 18,908,000 Expenditures:
Capital Ounay-General Govemmerd 1,251,000 - - - - 1,251,000 2,002,000 Public Safety- 284,000 107,000 - 2,004,000 - 2,395,000 3,070,000 Transportabon 5,003,000 7,669,000 777,000 1,340,000 2,757,000 17,546,000 11,955,000 Human Services 451,000 - - - - 451,000 269,000 c'
Economic Development 175,000 - - - - 175,000 2,792,000 Physical Environment 360,000 - - - - 360,000 149,000 Culture and Recrea6on. 1,740,000 50,000 - - - 1,790,000 2,086,000 Total Capital Outlay 9,264,000 7,826,000 777,000 3,344,000 2,757,000 23,968,000 22,323,000' Excess of Revenues Over (Under) Expenditure = (6,667,000) (7,071,000) 594,000 8,028,000 440,000 (4,676,000) (3,415,000)
Other Financing Sources (Uses):
Proceeds from Sale of Bonds - - - - - - - 6,951,000 Proceeds from Loan.- - - - - - - 255,000 Reduction in Loan. - - - - - - (868,000)
Operating Transfers in. 13,554,000 76,000 - - - 13,630,000 13,672,000 Operating Transfers Ot* (6,133,000) (692,000) - - (60,000) (6,885,000) (2,692,000)
Total Other Financing Sources (Uses) 7,421,000 (616,000) - - (60,000) 6,745,000 17,318,000 Excess of Revenue and Other Financing Sources Over (Under) Expenditures and Other Financing Usee 754,000 (7,687,000) 594,000 8,028,000 380,000 2,069,000 13,901,000 Fund Balances-October 1. 42,093,000 21,413,000 4,626,000 26,930,000 1.154,000 96,216,000 75,756,000 Residual Equity Transfer in. - - - - - - 6,659,000 Residual Equity Transfer Oid (117,000) - - - - (117,000) (100,tiu6; Fund Balances-September 30 5 42,730,000 $ 13,726,000 5 5,220,000 $ 34,958,000 3 1,534,000 $ 98,168,000 5 96,216,000
4 ENTERPRISE FUNDS Electric Fund-to account for the assets, operation and maintenance of the City-owned electric system. i Gas Fund--to account for the assets, operation and maintenance of the City-owned gas system. l 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. !
t Tallahassee Transit Fund-to account for the assets, operation and l maintenance of the City-owned mass transportation system.
Solid Waste Fund--to account for the assets, operation and -
i maintenance of the City-owned solid waste operation.
Golf Course Fund-to account for the assets, operation and i maintenance of the City-owned golf courses. l i
THIS PAGE INTENTIONALLY LEFT ELANK I
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CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING BALANCE SHEET September 30,1994 i Electric Gas Sewer W ater ASSETS Current Assets:
Cash and Cash EquNalents.. 5 17,968,000 5 384,000 $ 1,779,000 $ 811,000 Receivables:
Customers.. 12,694.000 803,000 1,698,000 1,306.000 Other. 494,000 - 43,000 11,000 Less: Allowance for Doubtful Accounts.. . (1,297,000) (97,000) (105,000) (105,000)
Due from Other Funds.. - - - -
Inventory 5,968.000 62,000 - -
Total Current Assets.. . .
..u 35,827,000 1,152,000 3.415,000 2,023,000 ,
Restricted Assets:
Cash and Cash Equivalents.. 64,C79,000 1,165,000 12,439.000 13,423,000 investments,. 30,408,000 3,383,000 26,560,000 2,091,000 Accounts Receivable., 457,000 - 762,000 97,000 Notes Receivable . 6,071,000 - - -
Due from Other Govemments.. -
19.000 - -
Total Restricted Assets.. .. . . . 101,015,000 4,567,000 39,761,000 15.611,000 Other Assets: ,
Unamortized Bond issue Cost.. 401,000 21.000 275,000 72,000 Total Other Assets- ... 401,000 21,000 275,000 72,000 Fixed Assets: '
Fixed Assets . 393,088,000 26,690,000 150,276,000 66,043,000 Less: Accumulated Depreciation.. (161,139,000) (5,931,000) (31,239,000) (17,016,000)
Construction in Progress.. 37,794.000 2,891,000 9,992,000 5.337,000 TotalFixed Assets _. . 269,743,000 23,650,000 129,029,000 54,364.000 Total Assets . . . .. 5 406.986,000 5 29,390,000 $ 172,480,000 $ 72,070.000 l
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CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING BALANCE SHEET September 30,1994 (Continued)
Totals Tallahassee Solid Got September September Airport Transit W aste Course 30,1994 30,1993 c
$ 1,679,000 $ 293,000 $ 419,000 $ 153,000 3 23,486,000 $ 24.613,000 316,000 120,000 1,028,000 - 17,965,000 18,462,000
- 721,000 62,000 - 1,0'41,000 1,148,000 (22,000) (4,000) (90,000) - (1,720,MO) (2,206,000)
- - - - - 6,000
- 552,000 - 36,000 6,618,000 7,542,000 1,973,000 1,682F 1,419,000 189,000 47,680,000 49,565,000 8,446,000 - 1,130,000 522,000 101,204,000 83,627,000 1,170,000 - - - 63,612,000 43,266,000
- - - - 1,316,000 1,499,000
- - - - 6,071,000 6,678,000 1.563.000 - - - 1.582,000 1,714,000 11,179,000 - 1,130,000 522,000 173,785,000 136,784,000 356,000 - - - 1,125.000 1,177,000 356,000 ~' - - - 1,125,000 1,177,000 65,652,000 17,704,000 2,441,000 2,411,000 724,305,000 635,131,000 i (15,240,000) (5,564,000) (1,723,000) (580,000) (238,432,000) (221,660,000) 7,014,000 2,938,000 - 53.000 66,019,000 113,279,000 57,426,000 15.078,000 718,000 1,884,000 551,892,000 526,750,000
$ 70,934,000 $ 16,760,000 $ 3.267,000 $ 2,595,000 $ 774,482,000 $ 714.276,000
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CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING BALANCE SHEET September 30,1994 (Conunued)
Electric Gas Sewer W ater LIABILITIES AND FUND EQUITY current Liabiliti s:
Accounts Payable., S 8,753,000 5 305,000 5 155,000 $ 139,000 Accrued Leave. 1,137,000 121,000 456,000 175,000 Customer Contracts Pz/able.. 785,000 - 1,100,000 500,000 Due to Other Funds. - - - -
Utility Depoons Payable.. 7,158,000 78,000 - 294,000 Prepaid Fees Credit Payable.. .
Total Current Liabilities .. -. 17,833,000 504.000 1,711,000 1,108,000 Payable from Restricted Assets:
Retainage and Accounts Payable.. 5,316,000 201,000 1,546,000 378,000 Customer Advances.- - 4,000 - -
Deferred Revenue.. 388.000 - - -
Total Payable from Restricted Assets...... . ... 5,704.000 205.000 1,546.000 378,000 Other Liabilities:
Loans from other Funds., - 1,539,000 5,544,000 5,455,000 Advances from Other Funds - - - -
Customer Contracts Payeble.. 13,000 - 1,490,000 1,142,000 Customer Advances . 7,000 - - -
Accrued Leave.. 1,492,000 122,000 411,000 167,000 Bonds Payable.. 114,938,000 12,186,000 64,087,000 9,412,000 Less: Bond Discount... (1,247,000) (156,000) (980.000) (168,000)
Total Other Llabilities . . . . 115.203.000 13.691,000 70,552,000 16,008,000 Total Liabilities . . . .... . .. 138,740.000 14,400,000 73.809,000 17,494,000 f
Fund Equity: ;
Contributed Capital 2,126,000 19,000 17,873,000 -
Retained Eamings:
Reserved... 95,311,000 4,362,050 38,215,000 15,233,000 Unreserved.. 170,809,000 10,609.000 42,583,000 39.343.000 Total Fund Equity. .. . 268,246,000 14,990,000 98,671,000 54,576,000 Total Liabilities and Fund Equity. . 5 406,986,000 5 29,390,000 5 172,480.000 5 72,070.000 D-4
i CITY OF TALLAHASSEE, FLORIDA ENTERPPJSE FUNDS COMBINING BALANCE SHEET September 30,1994 (Conunued)
Totals Tallahassee Solid Golf September September Airport Transit W aste Course 30,1994 30,1993 5 403,000 5 160,000 5 609,000 5 28,000 5 10,552,000 5 15,486,000 111,000 222,000 220,000 38,000 2,480,000 2,340,000
- - - - 2,385,000 2,406,000 65,000 4,000 - - 69,000 63,000
- - - - 7,530,000 7.264,000 549,000 - - - 549,000 515,000 1,128,000 386,000 829,000 66,000 23,565,000 28,074,000 1,326,000 - - - 8,767,000 6,426,000 -
- - - - 4,000 6,000
- - - - 388,000 401,000 1,326,000 - - - 9,159,000 6,833,000 3,375,000 - - - 15,913,000 13,185,000 1,289,000 - - - 1,289,000 9,400,000
- - - - 2,645,000 3,007,000
- - - - 7,000 -
226,000 120,000 320,000 30,000 2,888,000 2,822,000 16,865,000 - - - 217,488,000 179,916,000 (185,000) - - - (2,736,000) (2,531,000) 21,570,000 120,000 320,000 30,000 237,494,000 205,799,000 24.024,000 506.000 1.149.000 96,000 270,218,000 240,706,000 36,782,000 13,829,000 788,000 1,492,000 72,909,000 71,330,000 3,659,000 2,357,000 1,130,000 522,000 160,789,000 129,268,000 6,469,000 68,000 200,000 485,000 270,566,000 272,972,000 46,910,000 16,254,000 2 ' * *.000 2,499.000 504.264,000 473.570,000 5 70,934,000 5 16,760,000 D,2u,30T 5 2.595,000 5 774,482,000 5 714,276,000 I
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CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1994 I
Electric Gas Sewer W ater Operating Revenue:
Charges for Services:
Residential Sales.. $ 68,389,000 $ 4,807,000 $ 10,504,000 $ 8,085,000 Recyclables Sales.- - - - -
Commercial and industrial Sales.. 84,222,000 7,688,000 9,501,000 5,133,000 Public Street and Highway Lighting- 1,188,000 - - -
Sales for Resale. 5,640,000 297,000 - -
Sales to Other Funds.. 4,800,000 129,000 166,000 385,000 Surcharge.; 1,256,000 10,000 353,000 945,000 !
Tapping Fees.. - - 138,000 797,000 Landing and Tie Down Fees.. - - - -
Late Fees.. 459,000 47,000 - 71,000 Initiating Service.. 610,000 67,000 - 482,000 Rentals... 277,000 - - 42,000 Cut-ins and Cut-fees.. 588,000 58,000 - 269,000 Recreation Fees.. - - - -
Transportation Fees.. - - - -
Other.. 3,854,000 565.000 1,454,000 914,000 Total Operating Revenues. . . . . 171,283.000 13.668,000 22,116,000 17,123,000 Operating Expenses:
Personal Services.. 15,340,000 1,470,000 6,292,000 3,328,000 Fossil Fuel 39,725,000 - - - '
Power Purchased . 32,674,000 - - - ,
Gas Purchased.. - 5,628,000 .
Materials and Supplies.. 1,905,000 110,000 1,793,000 473,000 Contractual Services.. 13,138,000 1,583,000 5,290,000 4,326.000 Other Expenses.. 7,632,000 1,696,000 3,657,000 1,745,000 Less: Applied Equipment Charges.. (147,000) (155,000) (11,000) (6,000)
Depreciation. 11,350,000 531,000 2,467,000 1,256,000 175,000 79,000 20,000 '
Amortization.. -
Total Operating Expenses 121,792.000 10.863,000 19,567,000 11,142,000 Operating income (Loss) _ . . . 49,491,000 2,805,000 2,549,000 5.981,000 i
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CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1994 (Continued) )
Totals Tallahassee Solid Golf September September J
Airport Transit Waste Course ,
30,1994 30,1993 '
S - $ - $ 7,026,000 $ - $ 98,811,000 $ 97,128,000
- - 209,000 - 209,000 141,000
- - 6,235,000 - 112,779,000 112,277,000
- - - - 1,188,000 1,230,000
- - - - 5,937,000 5,057,000
- - - - 5,480,000 5,825,000
- - - - 2,564,000 2,476,000
- - - - 935,000 880,000 j 139,000 - - - 139,000 117,000 l
- - - - 577,000 507,000
- - - - 1,159,000 1,129,000 5,980,000 - - - 6,299,000 5,856,000
- - - - 915,000 1,072,000 j
- - - 838,000 838,000 - 873,000 l
- 1,839,000 - - 1,839,000 1,759,000 )
54,000 -
2.000 18,000 6.861,000 6,392,000 j 6,173,000 1,839,000 13,472,000 856.000 246,530.000 242,719,000 l 1,845,000 4,531,000 3,222,000 722,000 36,7bO,000 32,877,000 ;
38,701,000
- - - - 39.725,000
- - - - 32,674,000 33,456,000
- - - - 5,628,000 6,060,000 463,000 919,000 100,000 192,000 5,955,000 4,856,000 1,794,000 1,336,000 9.340,000 195,000 37,002,000 36,017,000 444,000 537,000 115,000 172,000 15,998.000 14,048,000
- - - - (319,000) (351,000) 1,722,000 671,000 62,000 79,000 18,138,000 19,415,000 23,000 - - - 297,000 340,000 6,291,000 7,994,000 12,839.000 1,360,000 191.848,000 185,419,000 (118.000) (6,155,000) 633,000 (504,000) 54.682,000 57,300,000 l
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CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1994 (Cononued)
Electric Gas Sewer W ater Nonoperaung Revenues (Expenses):
Interest Revenue $ 5,709,000 $ 47,000 $ 608,000 $ 773,000 Gain on Sale of Surplus Property... 40,000 - - 1,000 Grant Revenue..
Other Revenue.. 2,162,000 11,000 4,887,000 1,368,000 Interest Expense.. (2,727,000) (135,000) (1,082,000) (396,000)
Other Egenses.. (310,000) (62,000) (162,000) (48,000)
Total Nonoperating Revenues (Expenses) . 4,874,000 (139,000) 4,251,000 1,698.000 income (Loss) Before Operaung Transfers and Extraordinaryitem. . . . 54,365,000 2,666,000 6,800,000 7,679,000 Operating Transfers in (Out):
Operating Transfers in.. 1,000 - - -
Operabng Transfers (Out).. (39,760.000) (2,750,000) (879,000) (2,783,000) income (Loss) Before Extraordinary item . . 14,606,000 (84,000) 5,921,000 4,896,000 Extraordinary item:
Loss on Refunded Bonds..
14,606,000 (84,000) 5,921,000 4,896,000 Netincome (Loss). . . ..
Disposition of Net income (Loss):
increase in Contnbuted Cr.pital.. - -
Depreciaton on Contributed Assets., - - 648,000 -
Net increase (Decrease)in Retained Earnings . . - . . . . .... . 14,606,000 (84,000) 6,569,000 4,896,000 Retained Earnings - October 1. 251,514.000 15.055,000 74,229,000 49,680,000 Retained Earnings-September 30 . 5 266.120,000 5 14,971,000 5 80,798.000 5 54,576,000 D-8
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1 CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1994 (Continued)
Totals Tallahassee Solid Golf September September Airport Transit W este Course 30,1994 30,1993 ,
8 139,000 $ - 5 - 5 - $ 7,276,000 $ 7,694,000
- - - - 41,000 25,000
- 1,463,000 - - 1,463,000 1,598,000 498,000 14,000 153,000 23,000 9,116,000 5,956,000 (948,000) - - - (5,288,000) (2,861,000)
(423,000) (281,000) - - (1,286,000) (3,712,000)
(734,000) 1,196,000 153,000 23,000 11,322.000 8,700,000 (852,000) (4,959,000) 786,000 (481,000) 66,004,000 66,000,000 155,000 7,021,000 - 867,000 8,044,000 6,680,000 (37,000) (786,000) (6,000) (1,000) (47,002.000) (46,295,000)
(734,000) 1,276,000 780,000 380,000 27,046,000 26,385,000
- - - - - (12,784,000)
(734,000) 1,270,n00 780,000 385,000 27,046,000 13,601,000 (158,000) - - (158,000) (13,000) 1,144,000 435,000 - - 2,227,000 2,251,000 410,000 1,553,000 780,000 385,000 29.115,000 15,839,000 9,718.000 872,000 550,000 622,000 402,240.000 386,401,000 5 10,128.000 5 2,425,000 5 1,330.000 5 1,007,000 5 431,355,000 5 402,240,000 i
D-9 :
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS ;
COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1994 Electric Gas Sewer W ater increase (Decrease)In Cash and Cash ,
Equivalents:
Cash Flows from Operating Acevities:
Cash Received from Customers.. - $ 169,590,000 5 13,431,000 $ 21,761,000 5 16,752,000 Cash Received from Other Funds. 4,800,000 129,000 166,000 385,000 Cash Payments to Suppliers for Goods and Services.. .. (92,253,000) (5,234,000) (7,311,000) (3,686,000)
Cash Payments to Employees for Services.. (15,306,000) (1,428,000) (6,222,000) (3,311,000)
Payments to Other Funds.- (9.081,000) (1,113,000) (3,408,000) (2,898,000)
Net Cash Provided by (Used for)
Operating Acevities 57,750,000 2,785,000 4,986,000 7,242,000 Cash Flows from Noncapital Financing Activities:
Operating Transfers in from Other Funds.. 1,000 - - -
Operating Grants Received.. - - - -
Other.. 1,852,000 1,000 4,725,000 1,320,000 Operating Transfers Out to Other Funds.. (39,760,000) (2,750.000) (879,000) (2,783,000)
Not Cash Provided by (Used for)
NoncapitalFinancing Aedvities . (37,907,000) (2,749,000) 3,846,000 (1,463.000)
Cash Flows from Capital and Related Financing Acuvities:
Receipts from Energy Loan Program.. . 5,742,000 - - -
Proceeds from Sale of Bonds.- - 9.185,000 26,150,000 948,000 Advances from Other Funds.. . - - - -
Capital Grants Received.. - - - -
Capital Contributions.. - - - -
Proceeds from the Sale of Property.. 40,000 - - -
Acquisition and Construction of Capital Assets.. (14,247,000) (3,235,000) (6,029,000) (5,,134,000)
Principal and Refundog Payments., . (4,125,000) (71,000) (1,919,000) (213,000) l Repayment of Advance from Other Funds.. - (3,329,000) - (282,000)
Funding of Energy Loan Program.. (5,395,000) - - -
Interest Paid... (6.697,000) (200,000) (2,772,000) (741,000)
Net Cash Provided by (Used for) Capital and Related Financing Activities... (24,682,000) 2,350,000 15.430.000 (5,422,000)
Cash Flows from investing Activities:
Proceeds from Sale and Maturities of Investment Secunties., 16,244,000 6,709,000 9,383,000 1,768,000 Receipts of Interest on investments- 6,626,000 70,000 809,000 832,000 Purchase of investment Secunties. (11,699,000) (9,470,000) (31,294,000) (1,987,000)
Net Cash Provided by (Used for)
Investing Activities. . ,. . 11,171,000 (2,691,000) (21,102,000) 613,000 D.10 l
l -
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS ,
=* For the Fiscal Year Ended September 30,1994 (Continued)
Totals Tallahassee Solid Golf September September '
Airport Transit W aste Course 30,1994 30,1993 5 6,279,000 $ 1,864,000 3 13,397,000 $ 856,000 8 243,930,000 5 235,246,000
- - - - 5,480,000 5,825,000 (2,481,000) (1,436,000) (7,302.000) (494,000) (123,197,000) (111,697,000)
(1.818,000) (4,509,000) (3,207,000) (727,000) (36,528,000) (32,864,000)
- (1,343.000) (2,270,000) (99,000) (20,212,000) (17,560,000) 1,980,000 (5,424,000) 618,000 (464,000) 69.473,000 78,950,000 i
155,000 6,863,000 -
867,000 7,886,000 6,667,000
- 1,393,000 - - 1,393,000 1,029,000 75,000 12,000 149,000 - 8,134,000 2,273,000 (37,000) (786,000) (6,000) (1,000) (47,002,000) (46,295,000) 193.000 7,482,000 143,000 866,000 (29,589,000_)_ (36,326,000)
- - - - 5,742,000 4,502,000 5,195,000 - - - 41,478,000 44,181,000 3,255,000 - - - 3,255,000 7,386,000 3,669,000 125,000 - -- 3,794,000 5,769,000
- 158,000 - - 158,000 13,000
- - - - 40,000 21,000 (3,628,000) (2,809,000) (166,000) (274,000) (35,522,000) (55,000,000)
(255,000) - - - (6,583,000) (35,636,000)-
(3,391,000) - - - (7,002,000) (1,208,000)
- - - - (5,395,000) (5,260,000)
(1,279,000) - - - (11,689,000) (12.632,000) 3,566,000 (2,526,000) (166,000) (274,000) (11,724,000) (47,864,000)
- - - - 34,104,000 41,135,000 272,000 - 4,000 23,000 8,636,000 10,006,000
- - - - (54,450,000) (70,197,000) 272,000 - 4,000 23,000 (11,710,000) (19,056,000)
D-11
CITY OF TALLAHASSEE, FL'ORIDA !
ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS For the Fiscal Yaar Ended SerAember 30,1994 (Continued)
Electric Gas Sewer W ater Not increase (Decrease)in Cash and l Cash Equivalents.. 8 6,332,000 $ (305,000) $ 3,160,000 8 970,000
- Cash and Cash Equevaients -
October 1-- 75,715,000 1,854.000 11,058,000 13,264,000 Cash and Cash Equivalents -
September 30 8 82,047,000 5 1,549,000 8 14,218,000 $ 14,234,000 .
Classified As:
Unrestncted Assets 5 17,968,000 $ 384,000 5 1,779,000 8 811,000 Restricted Assets... . 64,079,000 1,165,000 12,439,000 13,423,000 [
5 82,047,000 5 1,549,000 5 14,215,000 5 14.234,000 >
Reconcillation of Operating income (Loss) ,
to Net Cash Provided by (Used for)
Operating Activities: ;
Operatog income (Loss).- $ 49,491.000 5 2,805,000 $ 2,549,000 $ 5,981,000 !
Adjustments to Reconcile Operating income (Loss) to Not Cash Provided by +
(Used for) Operating Activities:
Depreciation.. 11,350,000 531,000 2,467,000 1,256,000 Amortization : , 175,000 - 79,000 20,000 ,
Provision for Uncollectbie Accounts. - - 33,000 53,000 Change in Assets and Liabilities:
(Increase) Decrease in Accounts Receivable.. 214,000 (108,000) (189,000) (14,000)
(Increase) Decrease in Other Accounts Receivable.. (124,000) - - -
Decrease in Due from Other Funds.- - - - -
l (Increase) Decrease in inventory.- 941,000 12,000 - - ;
increase (Decrease)in Accounts Payable-. (4,592,000) (465,000) (23,000) 1,000 l Increase in Due to Other Funds, - - - -
j increase (Decrease) in Customer Contracts Payable.. (71,000) - - - )
increase (Decrease) in Utility Deposits Payable.. 338,000 - - (72,000) increase (Decrease)in Deferred Revenue., (13,000) - - -
Increase (Decrease)in Customer Advances.- 7.000 - - .-
Increase (Decrease)in Accrued Leave.- 34,000 10,000 70,000 17,000 l Increase (Decrease)in Prepaid Fees credit,- - - - - i Total Adjustments. . 8,259,000 (20,000) 2,437,000 1,261,000 Net Cash Provided by (Used for) Operating Activities. .. $ 57,750,000 5 2,785.000 $ 4,986,000 $ 7,242,000 l
I D-12 l
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1994 l (Continued) f' Totals
! Tallahassee Solid Golf September September Airport Transit W este Course 30,1994 30,1993 5 6.011,000 5 ( 468,000) 5 599,000 5 151,000 5 16,450,000 5 (24,296.000) 4,114,000 761,000 950.000 524,000 108,240,000 132,536,000 l
5 10,125,000 5 293,000 5 1,549,000 5 675,000 5 124,690,000 5 108,240,000 1
(
5 1,679,000 5 293,000 5 419,000 5 153,000 5 23,486,000 5 24,613,000 8,448.000 - 1,130,000 522.000 101,204,000 83,827,000 5 10,125,000 5 293,000 5 1,549,000 5 675,000 5 124.690,000 5 108.240,000 5 (118.000) 5 (6,155,000) 5 633.000 5 ( 504,000) 5 54,682,000 5 57,300,000 l l
1,722,000 671,000 62,000 79,000 18,138,000 19,415,000 23,000 - - - 297,000 340,000
- - 104,000 - 190,000 234,000 60,000 25,000 (169,000) - (181,000) (1,827,000)
- - - - (124,000) 11,000 6,000 - - - 6,000 20,000 (32,000) - 3,000 924,000 114,000 -
220,000 23,000 (19,000) (39,000) (4,894,000) 3,182,000 6,000 - - - 6,000 7,000
- - - - (71,000) 21,000
- - - - 266,000 356,000
- - - - (13,000) 3,000
- - - - 7,000 (117,000) 27,000 44,000 7,000 (3,000) 206,000 96,000 34,000 - - - 34,000 (205,000) 2,098,000 731,000 (15.000) 40,000 14,791,000 21,650,000 5 1,980,000 5 ( 5,424,000) 5 618,000 5 ( 4S4,000) 5 69,473,000 5 78,950,000 D-13
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND BALANCE SHEET September 30 1994 1993 ASSETS Current Assets:
Cash and Cash Equivalents.. $ 17,968,000 $ 18,334,000 Accounts Receivable:
Customers.: 12,694,000 13,467,W'l Other.. 494,000 370,000 Less: Allowance for Doubtful Accounts.. (1,297,000) (1,857,000) inventory:
Fossil Fuel.. 2,644,000 4,045,000 Nuclear Fuel.. 7,542,000 6,750,000 Accumulated Amortuation of Nuclear Fuel.. (4,218.000) (3.886,000)
Total Current Assets. . . . 35.827,000 37,223,000 Restricted Assets:
Cash and Cash Equivalents:
Revenue Bonds Reserve., 1,282,000 1,064,000 Revenue Bonds Construction.. 2,997,000 5,735,000 Revenue Bonds R R & l.. 31,855,000 24,150,000 Operating Reserve.. 21,569,000 20,728,000 Other.. 6,376.000 5.695.000 64,079.000 57,381,000 investments:
Revenue Bonds Reserve.. 10.641,000 10.618,000 Revenue Bonds Construction . 16,353,000 21,087,000 Other.. 3.414,000 3.248,000 30,408,000 34,953,000 Accounts Receivable:
Revenue Bonds R R & l.. 457,000 824,000 457,000 824,000 Notes Receivable:
Other.. 6.071,000 6,678,000 6.071,00') 6.678,000 Total Restricted Assets. .. . 101,015,000 99.836,000 Other Assets:
Unamortaed Bond issue Cost.. 401,000 445.000 Total Other Assets. . .. . . 401,000 445,000 Fixed Assets:
Fixed Assets . 393,088,000 364,621,000 Less: Accumulated Depreciation.. (161,139,000) (150,290,000)
Construction in Progress.. 37,794,000 47,861,000 Total Fixed Assets. .. . . 269.743,000 262,192,000 Total Assets .. . ....~..... 5 406,986.000 5 399.696.000 The accompanyr,g notes are an integral part of these financial statements.
D.14
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND l BALANCE SHEET (Continued)
September 30 1994 1993 LIAB!UTIES AND FUND EQUITY )
Current Uabilities: l Accounts Payable.. 5 8,753,000 5 13,345,000 Accrued Leave.. 1,137,000 1,098,000 Customer Contract Payable.. 785,000 856,000 Utiltty Deposits Payable.. 7,158.000 6,820,000 Total Current Uab!!! ties... . . . 17,833,000 22,119,000 Payable from Restricted Assets:
Retainage and Accounts Payable.. 5,316,000 4,532,000 Deferred Revenue.. 388,000 401,000 Total Payable from Restricted Assets 5.704,000 4,933,000 Other Uabilities:
Customer Contracts Payable.. 13,000 13,000 Customer Advances.. 7,000 -
Accrued Leave.. 1,492,000 1,497,000 Bonds Payable.. 114,938,000 118,872,000 Less: Bond Discount... (1.247,000) (1,378,000)
Total Other Uabilities 115.203.000 119,004,000 Totzi Uabilities . . .. . 138.740,000 146,056,000 Fund Equity:
Contnbuted Capita!.. 2,126,000 2,126.000 Retained Eamings:
Reserved for:
Revenue Bonds.. 11,923,000 11,682,000 Revenue Bonds Construction.. 2,726,000 5,421,000 Revenue Bonds RR & l.. 30,475,000 24,084,000 Operating Reserve.. 21,569,000 20,728,000 Revenue Bonds 90 Construction.. 16,179,000 19,622,000 Other Reserves . 12.439,000 13.366,000 Total Reserved . . . . . 95,311,000 94,903,000 Unreserved . 170.809,000 156,611,000 l Total Fund Equity ..~ . . . . . . . . 268,246.000 253,640.000 1 Total Uao!!!tles and Fund Equity... . . & 406,986,000 $ 399,696.000 I l
l The accompanying notes are an integral part of these financial statements.
D-15
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1994 1993 Operating Revenue:
Charges for Services:
Residenbal Sales.. 5 68,389,000 5 68,269,000 )
Commercial and industrial Sales... 84,222,000 84,349,000
]
Public Street and Highway Ughtng.. 1,188,000 1,230,000 Sales for Rosale.. 5,640,000 4,201,000 Sales to Other Fur *. 4,800,000 5,106,000 )
Surcharge.: 1,256,000 1,162,000 Late Fees.. 459,000 397,000 Initiating Service.. 610,000 590,000 Rentals.. 277,000 256,000 Cut-ins and Cut-fees.. 588,000 642,000 l
Other.. 3,854,000 3,799,000 Total Operating Revenues. . . 171,283.000 170,001.000 Operating Expenses:
Personal Services.. 15,340,000 13,253,000 l Fossil Fuel.. 39,725,000 38,701,000 1 Power Purchased.. 32,674,000 33,456,000 l Materials and Supplies.. 1,905,000 1,169,000 {
Contractual Services.. 13,138,000 11,508,000 l Other Expenses.. 7,632,000 6,940,000 Less: Applied Equipment Charges.. (147,000) (75,000)
Depreciation.. . 11,350,000 12.583,000 Amortization.. . 175,000 215,000 Total Operating Expenses . .. . . .. . 121,792,000 117,750,000 Operating income . . .
49,491,000 52,251,000 Nonoperating Revenues (Expenses):
Interest Revenue.. 5,709,000 6,028,000 Gain on Sale of Surplus Property.._ 40,000 21,000 Other Revenue.. 2,162.000 166,000 interest Expense.. (2,727,000) (2.173,000)
Other Expenses.. (310,000) (3,124,000)
Total Nonoperating Revenues (Expenses) . .. 4,874,000 918,000 Net income Before Operating Transfers and Extraordinary lism 54,365,000 53,169,000 Operating Transfers in (Out):
Operating Transfers in.- 1,000 881,000 Operating Transfers (Out).. (39,760,000) (40,555,000) a Netincome Before Extraordinaryitem. . . 14,606,000 13,495,000 Extraordinary item:
Loss on Refunding of Bonds.. - (12,784,000)
Net income . . . . . 14,606,000 711,000 Retained Eamings - October 1.. 251,514,000 250.803.000 Retained Earnings - September 30 . .. ... . . $ 266.120,000 5 251,514.000 The accompanying notes are an integral part of these financial statements.
D.16 J
(
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND STATEMENT OF CASH FLOWS Fiscal Year Ended September 30 increase (Decrease)in Cash and Cash Equivalents: 1994 1993 l Cash Flows from Operating Activities: )
Cash Received from Customers. 5 169,590,000 5 163,840,000 !
Cash Received from Other Funds.. 4,800,000 5,106,000 .
Cash Payments to Suppliers for Goods and Services (92,253,000) (80,567,000) )
Cash Payments to Employees for Services. (15,306,000)- (13,242,000) f Payments to other Funds. (9.081,000) (7,137,000) ;
Not Cash Provided by Operating Activities. . ._ 57,750,000 68,000,000 )
Cash Flows from Noncapital Financing Acevities: l Operstmg Transfers in from Other Funds.. 1,000 881,000 l Operating Transfers Out to other Funds.- (39,760,000) (40,555,000) !
Other--- 1,852,000 (2,958,000) l Not Cash Used for Noncepital Financing Acevities . .__. (37,907.000) (42,632,000) l Cash Flows from Capital and Related Financing Acevities: [
Proceeds from Sale of Bonds.: - 44,182,000 ,
Proceeds from the Sale of Property... 40,000 21,000 ;
5,742,000 4,502.000 Receipts from Energy Loan Program.-
Acquisition and Construction of Capital Assets.. (14,247,000) (22,849,000) l Fundng Energy Loan Program - (5,395,000) (5,260,000) i Principal and Refundmg Payments.. (4,125,000) (34,202,000) ;
interest Paid._ (6.697,000) (7,967,000) ;
Net Cash Used for Capital and Related Financing Acevities (24,682.000) (21,573,000) .
A Cash Flows from investing Acevities:
Proceeds from Sale and Matuiities of investment Secunties 16,244,000 36,226,000 Receipts of interest on investments - 6,626,000 7,704,000 [
Purchase of Investment Secunties.. (11,699,000) (68,112,000) i Not Cash Provided by (Used for) Investing Acevities. 11,171,000 (24,182.000) !
Not increase (Decrease) in Cash and Cash Equivalents.. 6,332,000 (20,387,000) !
Cash and Cash Equivalents - October 1.. 75,715,000 96,102,000 !
Cash and Cash Equivalents September 30 . 5 82.047,000 $ 75.715,000 Classified As: !
Unrestricted Assets.. 5 17,968,000 5 18,334,000 !
Restricted Assets.. 64,079,000 57,381,000 !
5 82,047,000 5 75,715,000 Reconcillation of Operating income to Net Cash f Provided by Operating Acevities: !
Operatog income.. 5 49,491,000 5 52,251,000 Adjustments to Reconcile Operating income to Net Cash ;
Provided by Operating Activttles:
Deprocobon 11,350,000 12,583,000
- Amortizatiott 175,000 215,000 l Change in Assets and Llatsities: ,
(increase) Decrease in Accounts Receivable 214,000 (851,000) ;
increase in Other Accounts Receivable - (124,000) (7,000)
Decrease in inventory 941,000 167,000- f increase (Decrease)in Accounts Payable., (4,592,000) 3,243,000 j increase (Decrease)in Customer Contracts Payable.. (71,000) 21,000 ;
inwease in Utility Deposits Payable.. 338,000 396,000 l Increase (Decrease)in Deferred Revenue . (13,000) 3,000 increase (Deaease)in Customer Advances . 7,000 (115,000) ,
increase in Accrued Leave., 34,000 94,000 !
Total Adjustmerats. . .. . 8,259,000 15,749,000 Not Cash Provided by Operating Acevities . . .. 5 57,750,000 $ 68.000,000 ;
The accompanying notes are an integral part of these financial statements. !
t D-17 I
. . _ _ . ._ _ . __m _ _ _ .- . _ . . _ . _ . - - _ _ . _ _ _ _ . . _ _ _
i CITY OF TALLAHASSEE, FLORIDA ,
ELECTRIC FUND I SCHEDULE OF OPERATING EXPENSE 4 l
Fiscal Year Ended September 30 1994 1993 Administrative an s General- l Personal Services. $ 2,345,000 $' 1,869,000 ;
Contractual Services - 8,141,000 6,982,000 Matenals and 9W 105,000 70,000 ,
Other.. 7,409,000 6,750,000 !
^
18,000,000 15,671,000 Distribution:
Personal Serwces 4,913,000 4,249,000 Contractual Serwces 1,737,000 1,616,000 Materiais and SuppEes 244,000 274,000 ,
Other_ _ 24,000 13,000 6,918,000 6,152,000 l Transmission: .
Personal Services.. 107,000 140,000 I Contractual Services.. 372,000 399,000 ;
Materials and Supphes._ 4,000 16,000 .
Other 79.000 72.000 562,000 627,000 Engineering:
- Personal Services.. 1,536,000 1,336,000 Contractual Services.. . . . - - , 135,000 172,000 [
Materials and Supplies.. 22,000 25,000 :
Other.. .. 51,000 50,000- !
1,744,000 1,583,000 Generation:
Personal Services.. 6,439,000 5,659,000 ,
Fossil Fuel 39,725,000 38,701,000 Contractual Services.. 2,753,000 2,330,000 ;
Power Purchased.- 32,674,000 33,456,000 '
Materials and Suppues.. 1,530,000 784,000 i Other-- 69,000 55,000 ;
83,190,000 80,994,000 I I
Less Apphed Equipment Charges.. (147,000) (75,000) -
Depreciation.. 11,350,000 12,583,000 ;
Amortization._ ...
175,000 215,000 11,378,000 12,723,000 l
Total Operating Expense - $ 121,792,000 $ 117,750,000 .
l i
The accompanying notes are an integral part of these financial statements.
D-18 i
-w - - - - -- _- . _ _ . _- _ - - - - . -__ -- -- -. ---. -, e., -- -
f i
CITY OF TALLAHASSEE, FLORIDA I ELECTRIC FUND REGULATORY SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1994 1993 Fossil Fuel.. $ 39,725,000 $ 38,701,000 Nuclear.. 1,613,000 1,546,000 Purchase of Power._ 32,674,000 33,456,000 Production:
Operabng.. 5,635,000 4,450,000 Maintenance.. 1,951,000 1,400,000 Transmission:
Operabng.. 638,000 501,000 Maintenance.. 465,000 506,000 Distnbution:
Operabng.. 4,284,000 3,591,000 Maintenance.. 1,333,000 990,000 Administrative.. 6,799,000 5,778,000 Automotwe Equipment Expense.. 855,000 775,000 Less: Applied Equipment Charges.. (147,000) (75,000)
Depreciabon.-. 11,350,000 12,583,000 ,
Amortzaton.. 175,000 215,000 l Customer Accounts Expense.-- 7,814,000 6,793,000 i Other.. 6.628.000 6.540.000 I l
Total Operating Expense. .. .
.. $ 121,792.000 $ 117,750.000 The above schedule is presented in accordance with the Uniform Chart of Accounts as promulgated )
by the Federal Energy Regulatory Commission. ]
l The accompanying notes are an integral part of these financial statements.
D-19
-.. . - . - . ._. . . ~ . .. - . _ .
j l J
CITY OF TALLAHASSEE, FLORIDA l GAS FUND BALANCE SHEET September 30 1994 1993-ASSETS Current Assets:
Cash and Cash Equivalents.- . 8 '384,000 8 899,000 j
- Accounts Receivable: 2 Customers - _ 603,000 695,000 5 Less: Abowance for Doubtful Accounts (97,000) (97,000) .l Inventory- ;
Fossa Fuel 62.000 74,000 Total Current Assets._ . . 1,152,000 1,571,000 Restricted Assets:
Cash and Cash Equivalents: 1 Revenue Bonds Construction... 28,000 316,000. >
Revenue Bonds Renewal and Replacement. 464,000 413,000 Other . ... 673,000 226,000 1,165,000 955,000 t investments:
Sunshne State Construction.- 96,000 119,000 Revenue Bonds . 1,105,000 303,000 Revenue Bonds Construction.. 2,182,000 -
3,383,000 622,000 j Due from Other Govemments: ,
Revenue Bonds Renewal and Replacement.- 19,000 -
Total Restricted Assets.. ...-.. . .. . 4,567,000 1,577,000 i
Other Assets: '
Unamortized Bond issue Costs.. 21.000 22,000 Totaf Other Assets . ..... . .. 21,000 22,000 [
Fixed Assets:
Fixed Assets.. 26,690,000 24,440,000 Less: Accumulated Depreciation.. (5,931,000) (5,404,000)
Construction in Progress., 2,891,000 1,922,000 I Tetal Fixed Assets. .
. . - 23,650.000 20,958,000 Totai Assets . . 5 29,390,000 $ 24,128,000 +
r 1
i s
[
1 The accompanying notes are an integral part of these financial statements.
D-20 e - . , . - . . , - - - . - . ,,.m.-___ _ ,. __. _____ _ _ _ _ . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
4 CITY OF TALLAHASSEE, FLORIDA GAS FUND BALANCE SHEET (Continued)
September 30 1994 1993 LIABILITIES AND FUND EQUITY Current Liabilities:
Accounts Payable.. . $ 305,000 $ 770,000 Accrued Leave., 121,000 112,000 Utility Deposits Payable-- 78.000 78,000 '
Total Current Liabillties.. .. . . . 504,000 960,000 Payable from Restricted Assets:
Retainage and Accounts Payable. 201.000 105,000 ,
- Customer Advances.. 4,000 6,000 Total Payable from Restricted Assets.... ... .. .... . 205,000 111,000 Other Liabilities:
Accrued Leave.- ... 122,000 121,000 Advances from Other Funds.. - 3,250,000 Loans from Other Funds.. .. 1,539,000 1,618,000 Bonds Payable.. 12,186,000 3,072,000 Less: Bond Discount.. (156,000) (59,000)
Total Other Liabilities. ... . . . ~ . . . . 13,691,000 8,002,000 Total Liabilities.... . .. ....... .. .. . 14,400,000 9,073,000 Fund Equity:
Contnbuted Capital.. 19,000 -
Retained Eamings:
Reserved for:
Revenue Bonds Reserve.. 1,050,000 303,000 Revenue Bonds Renewal and Replacement.. 475,000 323,000 Sunshine State Construction.. 99,000 319,000 Revenue Bonds Construction.. 2,064,000 295,000 Other.. 674.000 226,000 Total Reserved. . .... ..... . . .-. . . . . . . . 4,362,000 1,466,000 Unreserved.. . 10,609,000 13,589,000 Total Fund Equity. . ~ . . . . . . . . . . . . . . . . . . . . . . . 14,990,000 15,055,000 Total Liabilities and Fund Equity - .........$ 29,390.000 $ 24,128,000 The accompanying notes are an integral part of these financial statements.
D-21 i
+'
CITY OF TALLAHASSEE, FLORIDA GAS FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1994 1993 Operating Revenue:
Charges for Services:
Residential Sales.. 5 4,807,000 5 3,701,000 Commercial and Industrial Sales.. .. 7,688,000 7,229,000 Sales for Resale.. 297,000 856,000 Sales to Other Funds.. . 129,000 113,000 Late Fees. 47,000 44,000 Irdiating Service.. 67,000 58,000 Cut-ins and Cut-fees.. 58,000 63,000 Surcharge.. 10,000 6,000 Other.. 565,000 518,000 Total Operating Revenues... .. .. 13.668,000 12,588,000 Operating Expenses:
Personal Services . 1,470,000 1,318,000 Gas Purchased.. . 5,628,000 6,060,000 Materials and Supplies.. 110,000 101,000 Contractual Services.. . 1,583,000 1,167,000 Other Expenses.. . 1,696,000 1,111,000 Less: Applied Equipment Charges.. (155,000) (256,000)
Depreciation.. .
531,000 439,000 Total Operating Expenses .. . . 10,863,000 9,940,000 Operating income . . . . ...... 2,805,000 2,648,000 Nonoperating Revenues (Expenses):
Interest Revenue.. 47,000 84,000 Gain on Sale of Surplus Property... - 4,000 Other Revenue.. 11,000 112,000 Interest Expense.. (135,000) (1,000)
Other Expenses.. (62,000) (4,000)
Total Nonoperating Revenues (Expenses) .. ..., .. ... .. .. (139,000) 195,000 income Before Operating Transfers.. . . . ... . .. . 2,666,000 2,843,000 Operating Transfers Out:
Operating Transfers Out.. (2,750,000) (2,094,000)
Net income (Loss)... .. . . . . , . . . (84,000) 749,000 Retained Earnings - October 1.. 15,055,000 14,306,000 1
Retained Earnings - September 30 .. . .. . .
{ 14,971,000 5 15,055,000 l 2
l 1
l l
The accompanying notes are an integral part of these financial statements. j D-22 1
CITY OF TALLAHASSEE, FLORIDA l GAS FUND STATEMENT OF CASH FLOWS Fiscal Year Ended September 30 1994 1993 increase (Decrease)In Cash and Cash Equivalents:
Cash Flows from Operating Activities:
Cash Received from Customers.. 3 13,431,000 5 12,332,000 Cash Received from other Funds.. 129,000 113,000
.\ Cash Payments to Suppliers for Goods and Services..
Cash Payments to Employees for Services..
(B,234,000)
(1,428,000)
(7,363,000)
(1,305,000)
Payments to Other Funds.. (1,113,000) (987,000)
Net Cash Provided by Operating Acuvitles. . . . .. . .... 2,785,000 2,790,000 Cash Flows from Noncapital Financing Activities:
Other.. 1,000 108,000 Operating Transfers Out to Other Funds.. (2,750,000) (2,094,000) k Net Cash Used for Noncapital Financing Activities. .. (2,749,000) (1,986,000)
Cash Flows from Capital and Related Financing Activities:
Proceeds from Bonds.. 9,185,000 -
Advances From Other Funds.. - 3,250,000 Acquisition and Construction of Capital Assets.. (3,235,000) (3,990,000)
Pnncipal Payments.. (71,000) (63,000) g Payment on Loan from Other Funds.. (79,000) (102,000) p Repayment of Advance from Other Funds.. (3,250,000) -
Interest Paid.. (200.000) (255.000)
_ Net Cash Provided by (Used for) Capital and Related Financing Activities . 2,350,000 (1,160,000)
Cash Flows from investing Activities:
Proceeds from Sale and Matunties of Investment Securities.. 8,709,000 351,000 Receipts of interest on investments.. 70,000 163,000 Purchase of Investment Secunties.. (9.470,000) (307,000)
Net Cash Provided by (Used for) investing Activltles... (2,691,000) 207,000 Net Decrease in Cash and Cash Equivalents.. (305,000) (149,000)
Cash and Cash Equivalents - October 1.. 1,854.000 2,003.000 Cash and Cash Equivalents - September 30 . . . . . . . . . . . $ 1,549,000 5 1,854,000 Classified As:
Unrestricted Assets.. 384,000 899,000 Restricted Assets.. 1,165,000 955,000 5 1,549,000 $ 1,854.000 Reconcillation of Operating income to Net Cash Provided by Operating Activities:
Operating income.. 5 2,805,000, 5 2,648.000 Adjustments to Reconcile Operating income to Net Cash Provided By Operating Activities:
Depreciation.. 531,000 439,000 Changes in Assets and Liabilities:
increase in Accounts Receivable.. (108,000) (160,000)
Decrease in Inventory.. 12,000 8,000 Decrease in Accourts Payable.. (465,000) (136,000)
Decrease in Customer Advances.. - (2,000)
Increase in Accrued Leave.. 10,000 13,000 Total Adj::stments. . . .... . .
.. . . . . g?O,0001 142,000 Net Cash Provided by Operating Activities $ 2,785.000 $ 2,790,000 i The accompanying notes are an integral part of these friancial statements.
D-23 l
CITY OF TALLAHASSEE, FLORIDA GAS FUND SCHEDULE OF OPERATING EXPENSE Facal Year Ended September 30 1994 1993 Administrative and General:
Personal Serwces S 533,000 5 503,000 Contractual Services.- 1,080,000 738,000 Materials and SuppEes - 18,000 17,000 Other Exper- .. 1,674,000 1,093,000 3,305,000 2,351,000 Peak Shaving:
Personal Services.. 1,000 1,000 Co.itractual Services.. - 2,000 Materiais and Supphes.- 1,000 -
2,000 3,000 Transmission and Distribution Personal Services.. 936,000 814,000 Gas Purchased.. . , 5,628,000 6,060,000 Contractual Services. 503,000 427,000 Materials and Supplies.. 91,000 64,000 Other Experses.. 22,000 18,000 7,180,000 7,403.000 Less: Applied Equipment Charges.- (155,000) (256,000)
Depreciation. 531,000 439,000 Total Operating Expense. .. .. . , $ 10.863,000 $ 9,940.000 GAS FUND REGULATORY SCHEDULE OF OPERATING EXPENSE Focal Year Ended September 30 ;
1994 1993 Purchase of Gas.. . 5 5,628,000 $ 6,060,000 Dstribubon:
Operating.. 614,000 618,000 Maintenance.. 194,000 124,000 i Administrative.. 1,062,000 839,000 l Automotive Equipment Expense . 274,000 363.000 l Less: Applied Equipment Charges.- (155,000) (256,000) l Depreciation.. 531,000 439,000 Customer Accounts Expense.- 1,133,000 779,000 Other 1,582,000 974,000 Total Operating Expense . _. $ 10.863,000 $ 9,940,000 The above schedule is presented in accordance with the Uniform Chart of Accounts as promulgated by the Federaf Energy Regulatory Commission.
l The accompanying notes are an integral part of these financial statements. j D-24 l
.i
CITY OF TALLAHASSEE, FLORIDA SEWER FUND BALANCE SHEET September 30 1994 _
1993 ASSETS Current Assets:
l Cash and Cash Equivalents.. $ 1,779,000 $ 1,560,000 l Accounts Receivable:
Customers.- 1,698,000 1,509,000 Accrued interest Receivable.. 43,000 43,000 Less: Allowance for Doubtful Accounts. (105,000) (72,000)
Total Current Assets . .. - . 3,415,000 3,040,000 Restricted Assets:
Cash and Cash Equivalents:
Revenue Bonds Renewal and Replacement... 6,533,000 5,701,000 Sewer System Charges.. 4,816,000 3,047,000 Other.. 1,090,000 750,000 12.439.000 9,498,000 investments:
Sunshine State Construction.. 1,342,000 927,000 Revenue Bonds.. - . 25,218,000 3,722,000 26,560,000 4,649,000 Receivables:
Sewer System Char 9es.. 418,000 258,000 Other., . 344.000 330,000 762,000 588,000 Total Restricted Assets.... . . . . . .
39,761.000 14,735,000 Other Assets:
Unamortzed Bond Issue Cost... 275,000 298,000 Total Other Assets . ... .. .. . . . 275,000 298.000 Fixed Asse.'s:
Fixed Assets. 150,276,000 110,423,000 Less: Accumulated Depreciation.. (31,239,000) (28,794,000)
Construction in Progress.. 9,992,000 41,532.000 Total Fixed Asse1s.. . ... ..
129,029,000 123,161,000 Total Assets .
5 172.480,000 5 141.234,000_
The accompanying notes are en integral part of these fnancial statements.
D-25
CITY OF TALLAHASSEE, FLORIDA i SEWER FUND ;
BALANCE SHEET f
(Continued)
September 30 1993 - 1993 LIABILITIES AND FUND EGUITY l Current Liabilities:
Accounts Payable.. 5 155,000 5 -178,000 Customer Contracts Payable.. 1,100,000 900,000 Accrued Leave.. 456,000 413,000 Total Current Uabilities . . - . _ 1,711,000 1,491,000 Payable from Restricted Assets: !
Retainage and Accounts Payable.. 1,546,000 729,000 Total Payable from Restricted Assets. . .. ..-. ~.. 1,546,003 729,000 Other Llabilities:
Loan from Other Funds.. , 5,544,000 5,830,000 Advance from Other Funds.. - 1,350,000 Customer Contracts Payable.. 1,490,000 1,799,000 Accrued Leave... 411,000 384,000 Bonds Payable.. 64,087,000 37,636,000 Less: Bond Decount... (980,000) (735,000)
Total Other Liabilities.. . . ....-4. 70.552,000 46,264.000 Total Liabilities . .. . ... .
73,809,000 48,484,000 Fund Equity:
Contributed Capital.. 17,873.000 18,521,000 Retained Eamings:
Reserved for; Revenue Bonds.. 5,940,000 3,716,000 Revenue Bonds Construction.. 18,381,000 -
Other.. 1,078,000 483,000 l Revenue Bonds Renewal and Replacement... 5,870,000 5,570,000 i Sewer System Charges.. 5,234,000 3,305,000 :
I Sunshine State Construebon.. 1,712,000 932,000 Total Reserved.. . ... . . . 38,215,000 14,006,000 ,
Unreserved. 42,583,000 60,223,000 Total Fund Equlty... .. . . . .. . 98,671,000 92,750,000 Total Liabilities and Fund Equity . . 5 172,480.000 5 141,234,000 m
t i
The accompanying notes are an integral part of these financial statements. ,
i D-26 l
I l
1 CITY OF TALLAHASSEE, FLORIDA SEWER FUND i STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS l
Fiscal Year Ended September 30 l 1994 1993 Operating Revenue:
Charges for Services:
Residential Sales.. $ 10,504,000 $ 9,967,000 Commercial and Industrial Sales.. 9,501,000 9,301,000 Sales to Other Funds.. 166,000 157,000 Surcharge.. 353,000 331,000 Tappng Fees. 138,000 194,000 Other.. 1,454,000 1,028,000 Total Operating Revenues . ... .. 22,116,000 20,978,000 Operating Expenses:
Personal Services.. 6,292,000 5,948,000 Materials and Supplies.. 1,793,000 1,253,000 Contractual Services.. 5,290,000 5,603,000 Other Expenses.. 3,657,000 3,195,000 Less: Applied Equipment Charges.. (11,000) (19,000)
Depreciaton.._ 2,467,000 2,575,000 Amortizabon.. 79,000 81,000 Total Operating Expenses ..
.. . . . 19.567,000 18,636,000 Operating income . . . . 2,549,000 2,342,000 Nonaperating Revenues (Expenses):
Interest Revenue., . 608,000 687,000 Other Revenue.. 4,887,000 3,553,000 Interest Expense.. (1,082,000) (11,000)
Other Expenses.. (162.000) (227,000)
Total Nonoperating Revenues (Expenses). . . .... 4.251,000 4,002.000 income Before Operating Transfers .
6,800,000 6,344,000 Operating Transfers in (Out):
Operabng Transfers in.. - 51,000 Operatog Transfers (Out).. (879,000) (883,000)
Net income . . -
. . . . - . . . . . . . . . . 5,921,000 5,512,000 Disposition of Netincome:
Depreciation on Contributed Assets.. 648.000 681.000 Not increase in Retained EamIngs. ... . 6,569,000 6,193,000 Retaned Eamings - October 1.. 74,229,000 65,036,000 Retahed Earnings. September 30 . . .. $ 80,798.000 $ 74.229.000 The accompanyng notes are an integral part of these financial statements.
l D-27
CITY OF TALLAHASSEE, FLORIDA ;
SEWER FUND STATEMENT OF CASH FLOWS Fiscal Year Ended September 30 1994 1993 Increase (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operaung ActMeles-Cash Received from Customers.- $ 21,761,000 $ 20,764,000 i Cash Received from Other Funds - 106,000 157,000 Cash Paymerts to Suppbers for Goods and Services.- (7,311,000) (6,789,000)
Cash Paymorts to Employees for Services (6,222,000) (5,915,000)
Payments to Other Funds-- (3,408,000) (3,398,000)
Not Cash Provided by Operating Activilles _ 4,986,000 4,819,000 Cash Flows from Noncapital Financing Acevities:
Operating Transfers in from other Funds.- - 51,000 4,725,000 3,326,000 I Other Operating Transfers Out to Other Funds. (879,000) (883.000)
Not Cash Provided by Noncapital Financing ActMtles.. 3,846,000 2,494,000 Cash Flows from Capital and Related Financing ActMtles:
Proceeds from Sale of Bonds. 26,150,000 -
Advance from Other funds. - 850,000 Acquisebon and Construcbon of Capital Assets.. (6,029,000) (13,742,000)
Principal and Refunding Payments.. (1,919,000) (862,000) ,
Repayment of Loans from Other Funds.. - (606,000) '
interest Paid.- (2,772,000) (2,698,000)
Not Cash Provided by ( Used for) Capital and Related Financing ActMtles.. . . 15,430.000 (17,058,000)
Cash Flows from investing ActMtles:
Proceeds from Sale and Matunbes of investment Secunbes.. . 9,383,000 2,324,000 -
Receipts of interest on investments.. 809,000 1,011,000 Purchase of investment Secunhos (31,294,000) (1,100,000)
Not Cash Provided by (Used for) Investing ActMtles. . (21,102,000) 2,235,000 Net increase (Decreese) in Cash and Cash Equivalents.- 3,160,000 (7,512,000)
Cash and Cash Equivalents - October 1.- 11,058,000 18,570,000 Cash and Cash Equivalents . September 30 $ 14.218.000 $ 11.058,000 Classified As:
'Pirestricted Assets.. 1,779,000 1,560,000 Restricted Assets., 12,439,000 9,498.000 i 8 14,218,000 $ 11,058,000 ReconcNistion of Operating income to Not Cash Provided ;
byOperating Acevlees:
Operahng income.; 5 2,549,000 $ 2,342,000 Adjustments to Reconcile Operating income to Net Cash Provided by Operating ActMeles:
Depreciabon. 2,467,000 2,575,000 ,
Amorbzabon. 79,000 81,000 !
Provision for Uncoboctible Accounem 33,000 -
Change in Assets and Liabilities: ,
increase in Accounts Reiceivable.- (189,000) (176,000)
Decrease in Other Accounts Receivable.- - 24,000 increase (Decrease)in Accounts Payable (23,000) (60,000)
Increase in Accrued Leave... 70,000 33,000 Total Adjustments. 2,437,000 2,477,000 Not Cash Provided by Operating ActMtles $ 4.986,000 $ 4.819,000 i The accompanying notes are an integra! part of these financial statements.
D-28 )
CITY OF TALLAHASSEE, FLORIDA SEWER FUND SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1994 1993 Administragve and General:
Personal Services.. $ 792,000 $ 948,000 Contractual Services.. . 1,871,000 1,583,000 Materials and Supplies.. 18,000 16,000 Other.. . 3,623,000 3,158,000 6,304,000 5,705,000 Treatment Plants:
Personal Services.. 2,512,000 2,319,000 Contractual Services-. . 2,182,000 2,575,000 Materials and Supplies.. 986,000 642,000 Other.. 18,000 15,000 5.696,000 5,551,000 Water Quality Lab:
Personal Services.. 683,000 639,000 Contractual Services . 44,000 39,000 Materiahi and Supplies.. . 75,000 86,000 Other.. . 9.000 10,000 811,000 774,000 Sewer Collec6on:
Personal Services.. 1,684,000 1,508,000 Corft-xtual Services.. 648,000 761,000 Materials and Supplies.. 570,000 411,000 Other.. 7,000 10.000 2.909,000 2,690,000 TVinspecdon:
Personal Services.. 201,000 183,000 ,
Contractual Services.. 39,000 69,000 Matenals and Supplies.. 14,000 14,000 Other.. 1,000 1,000 255.000 267,000 Pumping Sta6ons:
Personal Services.. - 420,000 351,000 Contractual Services.. 506,000 576,000 Materials and Supplies.. 130,000 84,000 Other-- 1,000 1,000 1,057,000 1,012.000 Less: Applied Equipment Charges.- (11,000) (19,000)
Depreciation.. 2,467,000 2,575,000 Amortization.. 79,000 81,000 Total Opersong Expense. . .. . ..$ 19,567.000 $ 18,636,000_
The accompanying notes are an integral part of these financial statements.
D-29
CITY OF TALLAHASSEE, FLORIDA SEWER FUND REGULATORY SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1994 1953 Produceon:
Operahng.- $ 4,474,000 $ 3,965,000 Mantenance.. 1,002,000 890,000 Transmission:
Operstng.- 405,000 301,000 Maintenance.- 191,000 135,000 Distribution:
Operating.. 2,839,000 -3,109,000 Maintenance.. 248,000 140,000 Administratrve._ . 3,135,000 2,868,000 Automotive Equipment Expense.- 1,003.000 1,307,000 Less: Applied Equipment Charges.. (11,000) (19,000) !
Depreciation.. 2,467,000 2,575,000 Amortization.. 79,000 81,000 Customer Accounts Expense - 2,202,000 2,302,000 Other.. .
1,533,000 982,000 Total Operating Expense $ 19,567.000 $ 18,636,000 The above schedule is presented in accordance with the Uruform System of Accounts for Class A and B Water Utiltbes promulgated by the National Association of Regulatory Utility Commissioners.
l l
l l
i The accompanying notes are an integral part of these financial statements.
1 D-30
i CITY OF TALLAHASSEE, FLORIDA WATER FUND BALANCE SHEET September 30 1994 1993 >
ASSETS Current Assets:
Lash and Cast Equivalents.. $ 811,000 5 1,003,000 ;
Accounts Receivable:
Customers.. 1,306,000 1,320,000 Accrued interest Receivable.. 11,000 11,000 Less: A#owance for Doubtful Accounts.. . . . . (105,000) (80,000)
Total Current Assets . .. . . . . 2.023,000 2,254,000 :
Restricted Assets:
Cash and Cash Equivalents: f Revenue Bond Construction.. 275,000 793,000 Revenue Bond Renewal and Replacement.. 7,980,000 6,063,000 Water System Charge.. 4,473,000 4,748,000 Other.. 695,000 657,000 ;
13.423.000 12,261,000 investments:
Sunshine State Constructon.. 861,000 1,033,000 Revenue Bonds.. 943,000 839,000 Revenue Bonds Construction,. 287,000 -
2,091,000 1,872.000 Receivables:
Water System Charges.. 97,000 87,000 97,000 87,000 Yotal Restricted Assets. . . . .. ..-.. .. 15.611,000 14.220,000 i Other Assets:
Unamortzed Bond issue Cost... 72,000 78,000 Total Other Assets. . .. . .. ...~ .. 72,000 78,000 Fixed Assets:
Fixed Assets.. 66,043,000 58,224,000 Less: Accumulated Depreciation.. (17,016,000) (15,775,000)
Construction in Progress.. 5.337,000 7,891,000 Total Fixed Assets. . . . . ..,.. 54,364,000 50,340,000 Total Assets .. . .. . . . $ 72,070,000 $ 66.892,000 L
The accompanying notes are an integral part of these financial statements.
D.31
f CITY OF TALLAHASSEE, Ft ORIDA WATER FUND .
BALANCE SHEET (Continued)
September 30 !
1994 1993 LIABILITIES AND FUND EQUITY Current Liabilities.
Accounts Payable.. $ 139,000 5 138,000 Customer Contracts Payable. 500,000 650,000 Utihty Deposits Payable.. 294,000 366,000 Accrued Leave. 175.000 157,000 ,
Total Current Liabilities . 1.108,000 1,311,000 3
Payable from Restricted Assets:
Retainage and Accounts Payable.. 578,000 518,000 Total Payable from Restricted Assets. ... 378.000 518,000 ,
Other Llablittles Loan from Other Funds.. 5,455,000 5,737,000 Customer Contracts Payable.. 1,142,000 1,195,000 Accrued Leave.. , 167,000 168,000 Bonds Payable.. 9,412,000 8,451,000 Less: Bond Discount.. (168,000) (168,000)
Total Other Llabillties . - ... 16,008.000 15,383,000 Total Llabilitles. . . . ._ .. 17,494.000 17,212,000 Fund Equity:
Retained Earnings:
Reserved for:
Revenue Bonds.. 934,000 839,000 Revenue Bonds ConWWn-. . 408.000 792,000 Revenue Bonds Renewal and Reptve'oent.. 7,779,000 5,925,000 Water Line Systems Charge.. 4,556,000 4,703,000 Sunshine State Construction.. 860,000 776,000 Other.. .. 696,000 667,000 I Total Reserved. ... ... .. . . . . 15,233,000 13,702,000 Unreserved.. 39.343.000 35,978,000 Total Fund Equity . . _ . . . . . . . . . . . . . 54,576,000 49,680,000 ,
Total Liabilities and Fund Equity . ...- S 72.070.000 $ 66,892.000 k
I b
i The accompanying notes are an integral part of these financial statements.
D-32
CITY OF TALLAHASSEE, FLORIDA WATER FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1994 1993 Operating Revenue:
Charges for Services:
Residental Sales.. 5 8,085,000 3 8,340,000 Commercial and Industrial Sales.. 5,133,000 5,208,000 Sales to Other Funds.. 385,000 449,000 Surcharge.. 945,000 977,000 l Tapping Fees.. 797,000 686,000 Late Fees.. 71,000 66,000 Initatng Sennce.. 482,000 481,000 Rentals.. 42,000 53,000 Cut-ins and Cut-fees.. 269,000 367,000 Other.. 914,000 827,000 ,
Total Operating Revenues. . . . . . 17,123,000 17,460.000 Operating Expenses:
l Personal Services.. 3.328,000 2,853,000 l Materials and Supplies . 473,000 480,000 I Contractual Services.. 4,326,000 4,654,000 Other Expenses.. 1,745,000 1,505,000 Less: Applied Equipment Charges.. (6,000) (1,000)
Depreciaton.. 1,256,000 1,417,000 Amortzaton.. 20,000 21.000 Total Operating Expenses . .. 11,142,000 10,929,000 Operating income . . . . . 5,981,000 6,531,000 Nonoperating Revenues (Expenses):
Interest Cevenue.. 773,000 678,000 Gain on Sale of Surplus Property.. 1,000 -
Other Revenue.. 1,368,000 1,834,000 interest Expense.. (396,000) (51,000)
Other Expenses.. (48,000) (92.000)
Total Nonoperating Revenues (Expenses).... 1,698.000 2.369.000 income Before Operating Transfers .. .... 7,679,000 8,900,000 Operating Transfers (Out):
Operatng Transfers (Out).. (2,783,000) (2.669,000)
Net income 4,896,000 6,231,000 Retained Eamings - October 1.. 49,680,000 43,449,000 Retained Eamings - September 30 . . . S 54.576,000 $ 49.680.000 The accompanying notes are an integral part of these financial statements.
D-33 p
i i
CITY OF TALLAHASSEE, FLORIDA WATER FUND STATEMENT OF CASH FLOWS FiscalYear Ended September 30 1994 1993 increase (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operating Activities:
Cash Receked from Customers.. $ 16,752,000 F. 16,806,000 Cash Received from Other Funds.- 365,000 449,000 Cash Payments to Suppliers for Goods and Services.. (3,686,000) (3,976,000)
Cash Payments to Employees for Services.- (3,311,000) (2,854,000)
Payments to other Funds. (2,898,000) (2,688,000)
Not Cash Provided by Operating Activities 7,242,000 7,737,000 Cash Flows from Noncapital Financing Activities:
Other 1,320,000 1,742,000 Operating Transfers Out to Other Funds (2,783,000) (2,669,000)
Not Cash Used for Noncapital Financ:ng Activities.. (1,463,000) (927,000)
Cash Flows from Capital and Related Financing Activities:
Procesds from Sale of Bonds. 948,000 -
Acquisition and Construction of Capital Assets-- (5,134,000) (5,632,000)
Repayment of Loans from other funds.. , (282,000) (500,000)
Principal and Refunding Payments.. (213,000) (269,000)
Interest Paid., (741,000) (737,000)
Not Cash Used for Capital and Related Financing Activities . . (5,422,000) (7,138,000)
Cash Flow from investing Activities:
Proceeds from the Sale and Maturities of Investment Secunties.. 1,768,000 2,085,000 Receipt of interest income on trwestment... 832,000 878,000 Purchase of Investment Secunbes.- (1,987,000) (675,000)
Net Cash Provided byinvesting Activitles . . ... . 613,000 2,288,000 Net increase in Cash and Cash Equivalents.. 970,000 1,960,000 Cash and Cash Equivalents - October 1.. 13,264,000 11,304,000 Cash and Cash Equivalents - September 30.... .~.. . -. 5 14.234,000 $ 13.264,000 Chssified As: ,
Unrestricted Assets.. $ 811,000 $ 1,003,000 Restricted Assets., 13.423,000 12.261,000
$ 14.234,000 $ 13,264,000 Reconcillation of Operating income to Net Cash Provided By Operating Activities:
Operating income.. S 5.981,000 5 6,531,000 Adjustment to Reconcile Operating income to Net Cash Provided By Operating Activities:
Depreciabon.. 1,256,000 1,417,000 Amortizabon.. 20,000 21,000 Prraision for Uncolectible Accounts-. 53,000 95,000 Changes in Assets and Liabilities:
Increese in Accounts Re:eivable. (14,000) (294,000)
Increase in Other Accounts Receivable.. - (6,000) increase in Accounts Payable.- 1,000 14,000 Decreese in Utility Deposits Payable.. (72,000) (40,000) increase (Decrease)in Accrued Leave.. 17,000 (1,000)
Total Adjustments . . , . 1,261,000 1,206,000 Net Cash Provided by Operating Activities .. 5 7.242,000 $ 7,737,000 The accompanying notes are an integral part of these financial statements.
D-34
J l
1 CITY OF TALLAHASSEE, FLORIDA l WATER FUND SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 i 1994 1993 -
Administrative and General:
Personal Servces.. 5 745,000 5 401,000 Contractual Services . 1,648,000 2,106,000 Materials and Supplies.. 6,000 7,000 Other Expenses... 1,738,000 1,497.000
- 4,137,000 4.011,000 Supply:
Personal Services.. 438,000 398,000 Contractual Services.. 1,677,000 1,658,000 Materials and Supplies.. 79,000 70,000 ,
Other Expenses.. 1.000 2,000_ ,
2,195.000 2,128.000 Transmission and Distribunon:
Personal Services.. 2,145,000 2,054,000 Contractual Services., 1,001,000 890,000 Materials and Supplies.. 388,000 403,000 Other Expenses.. 6.000 6.000 3.540.000 3,353.000 Less: Apphed Equipment Charges... (6,000) (1,000)
Depreciaton Expense.. 1,256,000 1,417,000 Amortzaton Expense.. 20.000 21,000 Total Operating Expense . ... 5 11.142.000 5 10.929,000 WATER FUND REGULATORY SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1994 1993 Production:
Operating.. 5 1,993,000 5 1,646,000 Distribunon:
Operstng.. 1,249,000 1,454,000 Maintenance.. 989,000 1,053,000 Administratve.. 1,891,000 1,407,000 Automotive Equipment Expense.. 765,000 870,000 Less: Applied Equipment Charges.. (6,000) (1,000)
Depreciation.. 1,256,000 1,417,000 Amortization.- 20,000 21,000 Customer Accounts Expense.. 2,186,000 2,257,000 Other.. 799.000 805,000 Total Operating Expense. . .. . 5 11,142.000 5 10.929.000 The above schedule is presented in accordance with the Uniform System of Accounts for Class A and ,
B Water Utlites as promulgated by the Nabonal Association of Regulatory utility Commissioners. l The accompanying notes are an integral part of these financial statements.
D-35
CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND BALANCE SHEET September 30 1994 1993 ASSETS Current Assets:
Cash and Cash Equivalents- 8 1,679,000 $ 1,535,000 Accounts Receivable:
Customers.. 316,000 370,000 ;
Less: Anowance for Doubtful Accounts.; (22,000) (16,000) l Due from Other Funds . - 6,000 Total Current Assets _ -. 1,973,000 1,895,000 Restricted Assets:
1 Cash and Cash Equivalents:
Revenue Bonds Construction., 2,581,000 -
Renewal and Reg:,lacement.- 2,005,000 1,397,000 l Revenue Bonds Debt Service., 822,000 601,000 i Other Construction., 3.038,000 581,000 8.446,000 2,579,000 investments:
Revenue Bonds Reserve., 1,170,000 1,170.000 1,170,000 1,170,000 Due from Other Govemments:
Construction.. ., 692,000 1,412,000 Renewal and Replacement., - 10,000 Other . .
871,000 292.000 1,563.000 1,714,000 Total Restricted Assets ... 11,179,000 5,463,000 Other Assets:
Unamortized Bond issue Cost.__ 356,000 334,000 Total Other Assets. .... . . 356,000 334,000 Fixed Assets:
Fixed Assets . . 65,652,000 57,736,000 Less: Accumulated Depreciation.. (15,240,000) (13,519,000)
Construction in Progress. 7,014,000 10,319,000 TotalFImed Assets . . . . . 57,426,000 54,536,000
$ 62.228,000 Total Assets. . . .. . . ...
3 70,934,000 l
l-The accompanying notes are an integral part of these financial statements.
D-36
I l
CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND i BALANCE SHEET l (Continued) 1 September 30 1994 1993 LIABILITIES AND FUND EQUITY Current Liabilities:
Accounts Payable.. 8 403,000 5 183,000 ,
Accrued Leave.. 111,000 111,000 Prepaid Fees Credit Payable.. ... 549,000 515,000 Due to Other Funds.. 65,000 59,000 Total Current Liabilitles .
.. 1,128,000 868.000 Payable From Restricted Assets:
Retainage and Accounts Payable.. 1,326,000 541,000 Total Payable from Restricted Assets . ...... . 1,326,000 541,000 Other Liabilities:
Loan from Other Funds.. 3,375,000 -
Accrued Leave.. 226,000 199,000 l Bonds Payable.. 16,865,000 11,885,000 Less Bond Descount.. (185,000) (191,000)
Advances from Other Funds., 1,289,000 4,800,000 Total other Uabilitles. .. ... . . . . . 21,570,000 16,693,000 Total Uabilities. ...... < . ... - . . . . 24,024,000 18.102.000 Fund Equity:
Contributed Capital., 36,782,000 34,408.000 Retained Eamings:
Reserved for:
Revenue Bonds Debt Service.. . 791,000 802,000 Revenue Bonds Reserve.. 1,168,000 1,166,000 Revenue Bond Renewal and Replacement.. 1,700,000 1,397,000 Total Reserved . .. . . . . . . . . . . . . . 3,659,000 3,367,000 Unreserved.. 6,469,000 6,351,000 ,
Total Fund Equity.. . . . . . - . 46,910,000 44,126,000 Total Liabilities and Fund Equity . . . . $ 70,934,000 $ 62,228,000 l
The accompanying notes are an integral part of these financial statements.
D-37
CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For FiscalYear Ended September 30 1994 1993 Opera 6ng Revenue:
Charges for Services:
Landing and Tie Down Fees.. $ 139,000 $ 117,000 Rentals. 5,980,000 5,547,000 Other.. .
54,000 77,000 Total Operaung Revenues.., . . . 6,173,000 5,741,000 Operadng Expenses:
Portonal Services.. 1,845,000 1,612,000 Materials and Supplies.. .. 463,000 409,000 Contractual Services.. .. 1,794,000 1,910,000 Other Expenses.. . .._.. 444,000 99,000
' Depreciaton.. 1,722,000 1,705,000 Amortizaton.. 23,000 23,000 Total Operating Expenses. .. ... . . . 6,291,000 5,758,000 Operating Loss . ._ .... . (118,000) (17,000)
Nonoperating Revenues (Expenses):
Interest Revenue.. 139,000 217,000 Other Revenue.. 498,000 30,000 intere# Expense.. (948,000) (625,000)
Other Expense.. (423,000) (68,000)
Total Nonoperating Revenues (Expenses).. . ..- ... . (734,000) (446.000)
Loss Before Operating Transfers . ... .. . (852,000) (463,000)
Operating Transfers:
Operabng Transfers in . 155,000 -
Operabng Transfers (Out).. (37,000) (64,000)
Net Loss . . . -.. . ... .. . - . . . . . . . . , (734,000) (527,000)
Dispositfon of Net Loss:
Depreciation on Contributed Assets.. 1,144,000 1,133,000 Netincreasein Retained Earnings. . .
410,000 606,000 Retained Eamings - October 1.. 9.718.000 9,112.000 Retained Eamings - September 30 . . . 5 10.128,000 $ 9,718,000 l
The accompanying notes are an integral part of these financial statements. l D-38 i
1 I
l
CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND STATEMENT OF CASH FLOWS Fiscal Year Ended September 30 increase (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operating Activities:
Cash Received from Customers._.. $ 6,279,000 $ 5,571,000 Cash Payments to Suppliers for Goods and Services.. (2,481,000) (2,275,000)
Cash Payments to Employees for Services < (1,818,000) (1,604,000)
Payments to Other Funds.. - (400,000)
Not Cash Provided by Operating Activities.. .. 1.980,000 1,292.000 Cash Flows from Noncapital Financing ActMtles: ,
Operstmg Transfers in from Other Funds.. 155,000 l Other.. 75,000 (38,000)
Operating Transfers Out to Other Funds.. (37,000) (64,000)
Net Cash Provided by ( Used for) Noncapital Financing Activities. . .. . 193.000 (102,000)
Cash Flows from Capital and Related FipH:Ing Activities:
Capital Grants Received.. 3,669,000 3,894,000 Advances from Other Funds.. 3,255,000 3,285,000 Repayment of Advances from Other Funds.. (3,391,000) -
Acquisition and Construction of Capital Assets.. (3,628,000) (6,068,000)
Proceeds from Sale of Bonds.. 5,195,000 - !
Interest Paid.. (1,279,000) (975,000)
Principal and Refund 6ng Payments.. (255.000) (240,000) ,
Net Cash Provided by (Used) for Capital and Related Financing Activities .. -.. .. . . 3,566.000 (104.000)
Cash Flows from investing Activities:
Proceeds from the Sale of Investments.. - 149,000 Receipts of interest on investments.. 272,000 217,000 Purchase of Investment Securhes.. - (3,000)
Net Cash Provided byinvesting Activities .. . 272,000 363.000 Net increase in Cash and Cash Equivalents.. 6,011,000 1,449,000 Cash and Cash Equivalents - October 1.. 4,114,000 2.665,000 Cash and Cash Equivalents September 30... . . . . .. $ 10.125.000 $ 4.114,000 ,
Classifled As: !
Unrestricted Assets.. $ 1,679,000 $ 1,535,000 Restricted Assets.. 8,446,000 2,579,000 ;
10,125,000 4,114,000 Reconcillation of Operating Loss to Net Cash Provided by Operating Activities:
Operating Loss.. $ (118.000) $ (17,000)
Adjustments to Reconcile Operating Loss to Net Cash I Provided by Operating Activities:
Depreciation.._ 1,722,000 1,705,000 Amortization.. 23,000 23,000 Provision for Uncollectible Accounts.. - 8,000 Change in Assets and Liabilities:
(Increase) Decrease in Accounts Receivable.. 60,000 (236,000)
Decrease in Due from Other Funds.. 6,000 20,000 increase (Decrease)in Accounts Payable.. 220,000 (21,000) increase in Due to other Funds... 6,000 7,000 Increase in Accrued Leave.. 27,000 8,000 increase (Decrease)in Prepaid Fees Credit.. 34,000 (205,0Ci Total Adjustments. . 2,098,000 1,309,00D Net Cash Provided by Operating Activities -. . .$ 1,980.000 $ 1.292.000 The accompanying notes are an integral part of these financial statements.
D-39 >
CITY OF TALLAHASSEE, FLORIDA :
AIRPORT FUND SCHEDULE OF OPERATING EXPENSE I
i Fiscal Year Ended September 30 1994 1993 Administrative and General: 7 Personal Serwces . 8 372,000 $ 197,000 f
~
Contractual Serwces 911,000 911,000 Matensis and Supplies.: 276,000 60,000 -
Other Exper-- 442,000 ,
92,000 2,001,000 1,263,000 Pubile Safety- Fire:
Personal Services - 419,000 341,000 Contractual Serwces . 51,000 134,000 Motenais and FW - 6,000 5,000 Other Exper -- 2,000 7,000 478,000 487,000 I
Airport Patrol: .
Personal Serwces 395,000 361,000 Contractual Servicas.. 16,000 23,000 ,
Materials and Supplies.. .
4,000 6,000 415,000 390,000 Building Maintenance: ,
Personal Services.. 294,000 361,000 Contractual Services.; 674,000 715,000 Materials and Supplies... 59.000 166,000 1,027,000 1,242,000 l
Base Maintenance:
Personal Services.. 365,000 352,000 Contractual Services.. . 142,000 127,000 Materials and Supplies.. 118,000 172,000 625,000 651,000 Other:
Depreciation.. 1,722,000 1,705,000 Amortuation.. . x .. 23,000 23,000 ,
1,745,000 1,728,000 '
Total Operating Expense. _ 5 6,291,000 $ 5,758,000 i
i l
I l
I l
The accompanying notoc are an integral part of these financial statements. )
D-40 l
,, .m _- -
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUND BALANCE SHEET September 30 1994 1993 ASSETS Current Assets:
Cash and Cash Equivalents.. $ 293,000 $ 761,000 Accounts ReceNable:
Customers.. 120,000 145,000 l' Other.. 721,000 665,000 Less: Allowance for Doubtful Accounts.. .. (4,000) (4,000) inventory-Fossil Fuel . 12,000 21,000 Other.. 540.000 499.000 Total Current Assets. ~. . . , ~
1,682.000, 2,087,000 l
Fixed Assets:
Fixed Assets . 17,704,000 15,528,000 Less: Accumulated Depreciation.. (5,564,000) (5,687,000)
Construction in Progress.. 2.938.000 3.419,000 TotalFixed Assets .... . . - . - . . . . 15.078.000 13.260,000 Total Assets... ..... . . . . . . . . . . .. $ 16,760,000 $ 15,347,000
,~
LIABILITIES AND FUND EQUITY Current L! abilities: !
Accounts Payable.. $ 160,000 $ 178,000 Accrued Leave.. . 222,000 200,000 Due to Other Funds.. 4,000 4.000 Total Current Liabilities.. . ... . . ..
386,000 382 000 Other Liabilities: ,
Accrued Leave.. 120.000 98,000 I Total Other Liabilities.. .... .. ..~ . .. 120,000 98,000 Total Liabilities . . . . . . . . . . . . ~ . . . 506,000 480,000 Fund Equity:
Contributed Capital.. 13,829,000 13,995,000 Retained Earnings:
Reserved for Projects.. 2,357,000 872,000 Unreserved.. 68,000 -
Total Fund Equity .- . ., . .. - 16.254.000 14.867,000 Total Liabilities and Fund Equity. . $ 16,760.000 $ 15,347,000 D-41
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1994 1993 ;
Operating Revenue:
Transportabon Fees.. $ 1,839,000 $ 1,759,000 Total Operating Revenues . 1,839.000 1,759,000 Operating Expenses:
Personal Services .. 4,531,000 4,117,000 Matenals and Supplies.- 919,000 1,035,000 Contractual Services... 1,336,000 1,571,000 Other Expenses.. 537,000 824,000 Depreciabon.. 671.000 573,000 Total Operating Expenses . .. . 7,994.000 8,120,000 Operating Loss . (6,155.000) (6,361,000)
Nonoperating Revenues (Expenses): ;
Grant Revenue.. . 1,463,000 1,598,000 Other Revenue.. 14,000 223,000 Other Expenses.. (281,000) (86,000) I Total Nonoperating Revenues (Expenses).. . .-. 1,196.000 1,735.000 ;
Loss Before Operating Transfers.. (4,959,000) (4,626,000) [
Operating Transfers in (Out):
Operabng Transfers in.. 7,021,000 4,825,000 Operating Transfers (Out). (786.000) (30,000)
Net income . . - . 1,276,000 169,000 Disposition of Net income: i increase in Contributed Capital.. (158,000) (13,000) 6 Depreciation on Contributed Assets.. 435.000 437,000 ,
Net increase in Retained Earning 6 .. 1,553,000 593,000 Retained Earnings . October 1.- 872,000 279,000 Retained Earnings September 30 . $ 2,425.000 $ 872,000 i
D-42 f
1 CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUND STATEMENT OF CASH FLOWS Fiscal Year Ended September 30 1994 1993 increase (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operating Activities:
Cash Received from Customers . 5 1,864,000 5 1,789,000 Cash Payments to Suppliers for Goods and Services . (1,436,000) (2,772,000)
Cash Payments to Employees for Services.. (4,509,000) (4,136,000)
Payments to Other Funds.. (1,343,000) (682.000)
Net Cash Used for Operating Activities (5.424.000) (5.801,000)
Cash Flows from Noncapital Financing Activities:
Operatng Grants Received.. 1,393,000 1,029,000 Operating Transfers in from Other Funds.. 6,863,000 4,812,000 Operatng Transfers Out to Other Funds.. (786,000) (30,000)
Other.. 12.000 137,000 Net Cash Provided by Noncapital Financing Activities. 7,482.000 5 948.000 Cash Flows from Capital and Related Financing Activities:
Capital Grants Received.. 125,000 1,875,000 Capital Contnbubons.. 158,000 13,000 Acquisrton and Constructon of Capital Assets.. (2,809.000) (2.336.000)
Net Cash Used for Capital and Related Financing Activities. (2.526.000) (448.000)
Net Decrease in Cash and Cash Equivalents.. (468,000) (301,000)
Cash and Cash Equivalents - October 1.. 761,000 1,062,000 Cash and Cash Equivalents - September 30 5 293.000 5 761.000 Classified As:
Unrestncted Assets.. 5 293.000 5 761,000 Reconcillation of Operating Loss to Net Cash Used For Operating Activities:
Operatng Loss . 5 ( 6,155.000) 5 ( 6.361,000)
Adjustments to Reconcile Operating Loss to Net Cash Used For Operating Activities: -
Depreciaton.. 671,000 573,000 Change in Assets and Liabil! ties:
Decrease in Accounts Receivable.. 25,000 30,000 Increase in inventory.. (32,000) (61,000) increase en Accounts Payable.. 23,000 33,000 increase (Decrease)in Accrued Love.. 44,000 (15.000)
Total Adjustments... . .. . 731,000 560.000 l
Net Cash Used For Operating Activities. . 5 ( 5.424.000) 5 ( 5.801,000)
D-43
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUND SCHEDULE OF OPERATING EXPENSE Focal Year Ended September 30 1994 1993 Administrative and General:
Personal Services._ 5 500,000 5 399,000 Contractual Services.. 513,000 532,000 Materials and Supplies.. 11,000 12,000 Other__ .
523,000 P17,000 1,547,000 1,760,000 Operations:
Personal Services._ 3,203,000 2,974,000 Contractual Services.. 795,000 1,019,000 Materials and Supplies.. 480,000 524,000 Other_ _- 11,000 -
4,489,000 4,517,000 Maintenance:
Personal Services.- 828,000 744,000 Contractual Services.. 28,000 20,000 Materials and Supplies.. 428,000 499,000 Other,. 3,000 7,000 1,287,000 1,270,000 Depreciation . . 671,000 573,000 Total Operating Expense. .. . .... . . . .. 5 7,994.000 $ 8,120.000 l
D44
CITY OF TALLAHASSEE, FLORIDA ;
SOLID WASTE FUND BALANCE SHEET September 30 1994 1993 ASSETS Current Assets:
Cash and Cash Equivalents 5 419,000 5 399,000 '
Accounts Receivable: ,
Customers.. 1,028,000 956,000 t Other., ..
62.000 59,000 ;
Less: AAowance for Doubtful Accounts.. (90,000) (80,000)
Total Current Assets . 1,419.000 1,334,000 Restricted Assets:
Cash and Cash Equivalents:
Renewat, Replacement and improvement Fund.. 64,000 85,000 .
Operating Reserve.. , 1,046.000 466,000 l Total Restricted Asse1s. ..~. .. . .. .. 1,130,000 551,000 ,
Fixed Assets:
Fixed Assets . 2,441,000 2,304,000 ,
Less: Accumulated Depreciation.. (1,723,000) (1,690,000) i Total F1med Assets...... .. 718,000 614,000 Total Assets. . . .. . . 5 3 267,000 5 2,499,000 LIABlUTIES AND FUND EQUITY Current Liabilities:
Accounts Payable.. 5 609,000 5 627,000 Accrued Leave.. 220,000 210,000 Total Current Liabilities .. . 829.000 837,000 Payable from Restricted Assets:
Accounts Payable.. - 1,000 Total Payable from Restricted Assets...- - 1,000 Other Liabilities:
Accrued Leave.. 320,000 323,000 Total Other Liabilities . . 320,000 323,000 Total Liabilities. .
. . . 1,149,000 1,161,000 Fund Equity: ,
Contributed Capital.. 788,000 788,000 Retained Eamngs:
Reserved.. 1,130,000 550,000
- Unreserved . 200,000 -
TotalFund Equity. . . . , . 2,118.000 1,338,000 Total Llet@tles and Fund Equity- . 5 3,267,000 5 2,499 000 D45 i
CITY OF TALLAHASSEE, FLORIDA SOUD WASTE FUND STATEMENT OF REVENUES, EXPENSES AND +
CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1994 1993 .
Operating Revenue:
CharDes for Services:
Residential Collection.. $ 7,026,000 $ 6,845,000 Commercial Collection.- 6,235,000 6,190,000 Recyclables Sales.- 209,000 141,000
- Other 2,000 124,000 r TotalOperating Revenues . 13,472,000 13,300,000 !
i Operating Expenses:
Personal Services.. 3,222,000 3,101,000 Materials and Supplies.. 100,000 108.000 Contractual Services.. 9,340,000 9,392,000 Other Expenses.. 115,000 136,000 Depreciaton.. . 62,000 $2,000 Total Operating Expenses.. . . . .. . 12,839,000 12,789,000 Operating income.. .
. .. . ... 633,000 511,000 Nonoperating Revenues (Expense):
Other Revenues., - 153,000 7,000 Other Expenses.. - (111,000) ;
Total Nonoperating Revenues (Expenses).. ... .
. . 153.000 (104,000)
Income Before Operating Transfers.. . . 786,000 407,000 ,
Operating Transfers Out: !
Operating Transfers Out.. (6.000) -
Net income ., . .. . ... ..-... _ .. 780,000 407,000 [
Retained Earrwngs - October 1., 550.000 143,000 Retained Eamings . September 30 ... . , . ..
$ 1 330 000 $ 550,000 I
1 D-46
1 CITY OF TALLAHASSEE, FLORIDA SOUD WASTE FUND STATEMENT OF CASH FLOWS Fiscal Year Ended September 30 1994 1993 increase (Decrease)in Cash and Cash Equivalents:
Cash Flows from Operating Activides:
Cash Received from Customers.. 5 13,397,000 5 13,252,000 Cash Payments to Suppliers for Goods and Services.. (7,302.000) (7,386,000)
Cash Payments to Employees for Services.. (3,207,000) (3,146,000)
Payments to Other Funds.. (2,270,000) (2,119,000)
Not Cash Provided by Operating Activities. . . . 618,000 601.000 Cash Flow from Noncapital Financing Activities:
Other . 149,000 (44,000)
Operating Transfers Out to Other Funds.. . (6.000) -
Not Cash Provided by (Used for) Noncapital Financing Activities . . . ~ .
.. 143.000 (44,000)
Cash Flows from Capital and Related Financing Activities:
Acquisition and Construction of Capital Assets. (160,000) -
Net Cash Used for Capital and Related Financing Activities ... .. ... . . . (166,000) -
Cash Flows from investing Activities:
Receipts of interest on investments.. 4,000 4,000 Not Cash Flows Provided byinvesting Activities ... . 4,000 4,000 Net increase in Cash and Cash Equivalents.. 599,000 561,000 Cash and Cash Equivalents - October 1.. 950,000 389,000 Cash and Cash Equivalents -September 30 m . .. . . . . . 5 1,549,000 5 950,000 Classified As:
Unrestricted Assets.. 5 419,000 5 399,000 Restricted Assets.. 1,130.000 551,000 5 1,549,000 5 950,000 Reconcillation of Oporating income to Net Cash Provided by Operating Activities:
Operating income.. 5 633,000 5 511,000 Adjustments to Reconcile Operating income to Net Cash Provided by Operating Activities:
Depreciatiort 62,000 52,000 Provision for Uncollectible Accounts.. 104,000 131,000 Change in Assets and Liabliltles:
Increase in Accounts Receivable.. (169,000) (120,000) increase (Decrease) in Accounts Payable . (19,000) 71,000 increase (Decrease) in Accrued Leave.. 7,000_ (44,000)
Total Adjustments.. . .. (15.000) 90,000
[
Net Cash Provided by Operating Activities -. 5 618.000 5 601,000 D-47
i CITY OF TALLAHASSEE, FLORIDA SOLID WASTE FUND SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1994 1993 Administrative and General: l Personal Services.. . . 5 394,000 $ 403,000 Contractual Services.. . 1,345,000 1,390,000 Materials and Supplies., . 64,000 78,000 Other... 115,000 136,000 1,918,000 2,007,000 Residential Collection:
Personal Services.. 1,613,000 1,526,000 Contractual Services.- 4,638,000 4,510,000 Materials and Supplies.. 36,000 26,000 6.287,000 6,062,000 Commercial Collection:
Personal Services.. 1,215,000 1,172,000 Contractual Services.. 3,357,000 3,492,000 Material and Supplies.. .._..
- 4,000 4,572,000 4,668,000 Depreciation.. 62,000 52,000 Total Operating Expense . . . . . . . . . . ..... . $ 12 839 000 $ 12,789 000 i
4 D-48
1 l
CITY OF TALLAHASSEE, FLORIDA GOLF COURSE FUND BALANCE SHEET 1
September 30 ;
1994 1993 ASSETS Current Assets:
Cash and Cash Equivalents.. $ 153,0C0 $ 122,000 inventory... 36,000 39,000 Total Current Assets.... ...
. 189,000 161,000 Restricted Assets:
Cash and Cash Equivalents:
Renewal, Replacement and Improvement.. . 522,000 402,000 Total Restricted Assets - . . .... 522,000 402,000 Fixed Assets:
Fixed Assets.. 2.411,000 1,855,000 Less: Accumulated Depreciation.. (580,000) (501,000)
Construction in Progress.. 53.000 335,000 Total Fixed Assets... ... .~. . . . . . . . . . . .. . . . 1,884,000 1,689,000 Total Assets .. ............,..,.......5 2,595,000 $ 2,252.000 LIABluTIES AND FUND EQUITY Current Uabilities:
Accounts Payable.. $ 28,000 $ 67,000 Accrued Leave.. 38,000 39.000 Total Current Uabilities . . . . 66,000 106,000 Other Uabilities:
Accrued Leave.. 30,000 32,000 Total Other Uabilities . . . . ...._... . . . . . ..... 30,000 32,000 Total Wabilities . . . . . . . . . . . . . 96,000 138,000 Fund Equity:
Contributed Capita!.. 1,492,000 1,492,000 Retained Eamings:
Reserved... . 522,000 402.000 Unreserved.. 485,000 220,000 Total Fund Equity. .. . . . . . . . . . . . 2,499,000 2,114,000 Total Wabilities and Fund Equity.. .. . ..s... $ 2,595.000 $ 2,252,000 2
D-4 9
CITY OF TALLAHASSEE, FLORIDA GOLF COURSE FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1994 1993 Operating Revenue:
Charges for Servicec:
Greens Fees.. 3 431,000 3 480,000 Golf Cart Fees., .. 233,000 263,000 Pro Shop Sales.. 69,000 73,000 AnnualGolf Fees.. 24,000 11,000 Driving Range Fees.- 28,000 27,000 Concessions.- 53,000 19,000 Other.. .
18,000 19,000 Total Operating Revenues. . . . . . . 856,000 892.000 Operating Expenses:
Personal Services . 722,000 675,000 Materials and Supplies.. 192,000 301,000 Contractual Services.. 195,000 212,000 Other Expenses.. 172,000 238,000 Depreciation.. 79,000 71,000 Total Operating Expenses. .. . .. 1,360,000 1,497,000 Operating Loss . . (504.000) (605.000)
Nonoperating Revenues:
Other Revenue.. 23.000 31,000 Total Nonoperating Revenues. - ,
.. . 23,000 31,000 Loss Before Operating Transfers . ..... . .- (481,000) (574,000)
Operating Transfers in (Out):
Operating Transfers in.. 867,000 923,000 Operating Transfers Out... (1,000) -
Not income . .. . .. . . . . . 385,000 349,000 ,
Retained Earnbps - October 1.. 622,000 273,000 Retained Earnings - September 30.. .. . . . . . 5 1,007,000 5 622,000 D.50
CITY OF TALLAHASSEE, FLORIDA OOLF COUitSE FUND STATEMENT OF CASH FLOWS Fiscal Year Ended September 30 1994 1993 increase (Decrease)in Cash and Cash Equivalents:
Cash Flows from Operating Acevities:
Cash Received from Customers... $ 856,000 $ 892,000 Cash Payments to Suppliers for Goods and Services.. (494,000) (569,000)
Cash Payments to Employees for Services.. (727,000) (662,000)
Payments to Other Funds.. (99,000) (149,000)
Not Cash Used for Operaung Activities. . .
(464.000) (488.000)
Cash Flow from Noncapital Financing Acuvines:
Operating Transfers in from Other Funds.. 867,000 923,000 Other.. - 2,000 Operatng Transfers Out to Other Funds.. (1,000) -
Net Cash Provided by Noncapital Financing Activities 866,000 925.000 Cash Flows from Capital and Related Financing Activities:
Acquisibon and Construction of Capital Assets.. (274,000) (383,000)
Net Cash Used for Capital and Related Financing Activities . - . . . ... (274.000) (383.000)
Cash Flows from investing Activities:
Receipt of interest on Investments.. 23.000 29.000 Net Cash Provided byinvesting Activities . . . . 23.000 29,000 Net increase in Cash and Cash Equivalents.. 151,000 83,000 Cash and Cash Equivalents - October 1., 524,000 441,000 Cash and Cash Equivalents - September 30.. . . . . . . . $ 675.000 $ 524.000 Classified As:
Unrestricted Assets.. .
153,000 122,000 Restricted Assets.. , 522.000 402,000 Totals. . ... .......~.. . . . , . . . . . ~ . . . . $ 675.000 $ 524,000 Reconcillation of Operaung Loss to Net Cash Used for Operating Acuvities:
Operetng Loss... 5 ( 504,000) $ ( 605,000)
Adjustments to Reconcile Operating Loss to Net Cash Used for Operating Activities:
Depreciaton., 79,000 71,000 Change in Assets and Liabilities:
Decrease in inventory... .
3,000 -
Increese (Decrease)in Accounts Payable.. (39,000) 38,000 increase (Decrease)in Accrued Leave.. (3,000) 8,000 Total Adjustments. ... . . . . . 40,000 117,000 Net Cash Used for Operating Activities , . . $ ( 464,000) $ (488.000)
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INTERNAL SERVICE FUNDS Reading, Billing and Collection Fund-to account for the costs of the I
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 operation.
Central Stores Fund-to account for the costs of the City's central stores !
operation.
Purchasing Fund-to account for the costs of the City's centralized purchasing operation.
Garage Fund--to account for the costs of maintaining and operating the :
City's fleet maagement operation.
Human Resources Fund-to account for the costs of the City's employee relations operation.
Pension Administration Fund-to account for the costs of the City's l pension plan administrative operation. >
Risk Management Fund--to account for the costs of the City's risk management 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. j Internal Loan Fund-to account for loans received from the Sunshine ;
State Governmental Financing Commission which in turn are loaned to other funds to provide financing for capital projects.
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CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET Septen.ber 30,1994 Reading information Billing and Systems Central Collection Services Accounting Stores Purchasmg Garage ASSETS Current Assets:
Cash and Cash Equivalents.. $ 503,000 $ 1,187,000 $ 481,000 $ 393,000 $ 82,000 $ 334,000 Accounts Receivable.- - - 1,000 - - 16,000 Due from other Funds._ 57,000 - - - - -
Depos.its. 6,000 - - - - -
inventory _ - 91,000 - 3,520,000 48,000 572,000 Total Current Assets 566,000 1,278,000 482,000 3,913,000 130,000 922,000 Restricted Assets:
Cash and Cash Equivalents.. - 128,000 259,000 - - 27,768,000 Accounts Receivable.. - - - - - -
Notes Receivable-- - - - - - -
Due from other Govemments., - - - - - 1,582,000 Loans to Other Funds.. - - - - - -
Total Restricted Assets. . - 128,000 259.000 - - 29,350,000 Fixed Assets.. 120,000 8,761,000 91,000 331,000 99,000 34,335,000 Less: Accumulated Depreciation.. _ 83,000)
( (3,200,000) (47,000) (151,000) (44,000) (16,252,000)
Total Fixed Assets.. 37,000 5,561,000 44,000 180,000 55,000 18,083,000 Total Assets . . . . 5 603,000 $ 6,967,000 $ 785,000 $ 4,093,000 $ 185,000 $ 48,355,000 LIABILITIES AND FUND EQUITY Current Liabilities: -
Accounts Payable.. $ 80,000 $ 279,000 $ 74,000 $ 214,000 $ 17,000 $ 78,000 Accrued Leave.. 215,000 167,000 135,000 12,000 38,000 146,000 Lease Payable - Current. - - 31,000 - - - -
Total Current Llabilities.. 295,000 477,000 209,000 226,000 55,000 224,000 Payable from Restricted Assets:
Accrued interest Payable.. - - - - - -
Claims Payabie . - - - - - -
Loans Payable-- - - - - - -
Total Payable from Restricted Assets - - - - - -
Other Liabilities:
Loan from Other Funds.. - 1,172,000 - - - -
Lease Payable.. .
Accrued Leave.. 199,000 218,000 129,000 8,000 25,000 177,000 Total Uabilities. . 494,000 1,867,000 338,000 234,000 80,000 401,000 Fund Equity Contributed Capita!.. - - - - - 7,464,000 Retained Earnings:
Reserved for:
Debt Sevice.. - - - - - -
Fleet he,:..agement.. - - - - - 29,350,000 Projects.-- - 128,000 259,000 - - -
insurance., - - - - - -
Unreserved.. .._.. 109,000 4,972,000 188,000 3,859,000 105,000 11,140,000 Total Fund Equity. . .. . 109.000 5,100,000 447,000 3,859,000 105,000 17,954,000 Total Liabilities and Fund Equity.. . $ 603,000 $ 6,967,000 $ 785,000 $ 4,093.000 $ 185,000 $ 48,355,000 E-2
CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET September 30,1994 Pension Risk Totals Human Admin. Manage- Employee Communk. lotsmal September September Resources istration ment Healthcare cation Loan 30,1994 30,1993
$ 342,000 $ 102,000 $ 9,000 $ - $ 89,000 $ - $ 3,522 000 $ 4,160,000
- - 101,000 77,000 - - 195,000 134,000
- - 1,000 - - - 58,000 57,000
- - - - - - 6,000 7,000
- - - - - - 4,231,000 3,702,000 342,000 102,000 111,000 77,000 89,000 - 8,012,000 8,060,000 3,749,000 - 11,347,000 346,000 - 1,919,000 44,516,000 41,635,000
- - - - - 26,000 26,000 -
- - - - - 840,000 840,000 -
- - - - - - 1,582,000 -
- - - - - 19.663,000 19,663,000 19,820,000 R,749,000 - 11,347,000 346,000 - 22.448,000 66,627,000 61,455,000 64,000 1,000 1,000 - 305,000 - 44,108,000 37,979,000 (33,000) (1,000) (1,000) - (217,000) - (20,029,000) (16,748,000) 31,000 - - - 88,000 - 24,079,000 21,231,000
$ 3.122,000 $ 102,000 $ 11,458,000 $ 423,000 $ 177,000 $ 22.448,000 $ 98,718,000 $ 90.746.000
$ 62,000 $ 27,000 $ 104,000 $ 3,000 $ 5,000 $ 6,000 $ 949,000 $ 591,000 93,000 11,000 5,000 - 18,000 - 840,000 790,000
- - - - - - 31,000 32,000 155,000 38.000 109,000 3,000 23,000 6,000 1,820,000 1,413,000
- - - - - - - 54,000 7,907,000 288,000 - - 8,195,000 7,212,000
- - - - - 21,700,000 21,700,000 21,700,000
- - 7,907,000 288,000 - 21,700,000 29,895,000 28,966,000
- - - - - - 1,172,000 1,759,000
- - - - - - - 31,000 102,000 11,000 2,000 - 34,000 - 905,000 875,000 257,000 49,000 8,018,000 291,000 57,000 21,706,000 33,792,000 33,044,000 i
- - 894,000 - 130,000 - 8,488,000 6,606,000 l 1
- - - - - 742,000 742,000 266,000
- - - - - - 29,350,000 26,672,000 1,397,000 - - - - - 1,784,000 1,546,000 1,352,000 - 2,546,000 132,000 - - 4,030,000 3,161,000 116,000 53,000 - - (10,000) - 20,532,000 19,451,000 R,865.000 53,000 3,440,000 132,000 120,000 742,000 64,926,000 57,702.000
$ 3,122,000 $ 102.000 $ 11,458,000 $ 423,000 $ 177,000 $ 22,448,000 $ 98,718,000 $ 90,746,000 E-3
CITY OF TALLAHASSEE, FLORIDA :
INTERNAL SERVICE FUhDS !
COMBINING STATEMENT OF REVENUES, EXPENSES, AND l
CHANGES IN RETAINED EARNINGS (DEFICIT)
For the Fiscal Year Ended September 30,1994 Readng information Billing and Systems Central Colection Services Accountog Stores Purchasing Garage Operating Revenues: !
Charges for Senace ... 8 7,773,000 $ 7,324,000 $ 3,344,000 $ 5,137,000 $ 1,284,000 $ 10,686,000 Other. - - - - - -
Total Operating Revenues 7,773,000 7,324,000 3,344,000 5,137,000 1,284,000 10,686,000 i Cperating Expenses:
Personal Sennces 3,484,000 2,499,000 2,047,000 211,000 615,000 2,223,000 Contractual Services.. 3,672,000 3,189,000 1,091,000 4,881,000 528,000 3,527,000 ;
Materials and Supplies _- 433,000 101,000 15,000 5,000 67,000 88,000 i Other - 76,000 652,000 24,000 117,000 123,000 937.000 Depreciation -.
5,000 383,000 8.000 8,000 2,000 3,117,000 Total Operating Expenses 7,670,000 6.824,000 3,185,000 5,222,000 1,335,000 - 9,892,000 Operating income (Loss) _ 103,000 500,000 159,000 (85,000) (51,000) 794,000 Nonoperating Revenues (Expense):
Interest Revenue - 1,000 - - - 1,449,000 interest Expense. -
(47.000) - - - -
Total Non4perating Revenues (Expense)_ - (46,000) - - - 1,449,000 income (Loss) Before Operating
- Transfers _. 103,000 454,000 159,000 (85,000) (51,000) 2,243,000 Operating Transfers in. ..
- 17,000 - - 37,000 1,049,000 Operating Transfers (Out).- (148,000) (109,000) (68,000) (4,000) - >
Net income (Loss) (45,000) 362,000 91,000 (89,000) (14,000) 3,292,000 R tained Eamngs (Deficit). October 1, 154,000 4.738,000 356,000 3,948,000 119,000 37,198,000 Retained Eamings (Deficit)- September 30. $ 109,000 $ 5,100,000 $ 447,000 $ 3,859.000 $ 105.000 $ 40,490,000 h
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CITY OF TALLAHASSEE, FLORIDA j INTERNAL SERVICE FUNDS !
COMSINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS (DEFICIT) ,
For Sw Flacal Year Ended September 30,1994 f l
Poneson Risk Totals Human Adman- Manage- Employee Communi- intemal September September ;
Resources istration ment Healthcare cation Loan 30,1994 30,1993
$ 3,785,000 $ 356,000 $ 4,452,000 $ 891,000 $ 421,000 5 - 8 45,453,000 $ 45,742,000 56,000 3,785,000 356,000 4,452,000 891,000 421,000 - 45,4:53,000 45,798,000 i i
1,542,000 162,000 113,000 - 297,000 - 13,193,000 12,337,000 1,085,000 129,000 152,000 184,000 53,000 - 18,491,000 17,625,000 58,000 6,000 2,000 - 51,000 - 826,000 905,000 35,000 11,000 4,401,00G 784,000 9,000 - 7,169,000 6,930,000 3,000 - - - 18,000 - 3,544,000 3,423,000 .
2,723,000 308,000 4,668,000 968.000 428,000 - 43,223,000 41,220,000 !
1,062,000 48,000 (216,000) (77,000) (7,000) - 2,230,000 4,578,000 ;
4 106,000 - 527,000 16,000 - 1,129,000 3,228,000 2,927,000
- - - - - (653,000) (700,000) (722,000) ,
106,000 - 527,000 16,000 - 476,000 2,528,000 2,205,000 ,
t i
1,168,000 48,000 311,000 (61,000) (7,000) 476,000 4,758,000 6,783,000
- - - - - - 1,103,000 -
(190,000) - - - - - (519,000) (1,015,000) ;
978,000 48,000 311,000 (61,000) (7,000) 476,000 5,342,000 5,768,000 1,887,000 5,000 2,235,000 193.000 (3,000) 266,000 51,096,000 45,328,000 _;
5 2,865,000 $ 53,000 $ 2,546,000 5 132,000 $ (10,000) 5 742,000 5 56,438,000 5 51,096,000 ,
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. . - -. . ~ . _. .- . - . - - . - - - - .- . . _ -
t CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1994 t
T Reading information h Billing and Systems Central i Colleebon Senaces Accountmg Stores Purchaeme Garage ,
increase (Decrease)in Cash :
and Cash Equivalents: I Cash Flows from Operating ,
ActMeles: -
Cash Received from Customers 5 - 8 - 8 - 8 3,000 $ - 8 -
f Cash Received from Other Funds.. 7,773,000 7,324,000 3,344,000 5,134,000 1,284,000 9,107,000 Cash Payments to Suppliers for Goods and Services.. (4,180,000) (3,716,000) (1,144,000) (5,366,000) (728,000) (4,583,000)
Cash Payments to Employees ,
for Services., .. - (3,477,000) (2,491,000) (2,030,000) (208,000) (620,000) (2,195,000)
Payments to Other Funds. - - - - - - :
Net Cash Provided by (Used for) Operating Acevities. . 116,000 1,117,000 170,000 (437,000) (64,000) 2,329,000 Cash Flows from Noncapital Financing Acevities: ,
Operating Transfers in from Other Funds- - 17,000 - - 37,000 1,049,000 i Other.. 11,000 - - - - -
Operating Transfers Out to Other Funds.- (148,000) (109.000) (68,000) (4,000) - -
Net Cash Flows Provided by ,
(Used for) Noncapital Financing i ActMties. _ (137,000) (92,000) (68,000) (4,000) 37,000 1,049,000 -
Cash Flows From Capital and !
Related Financing ActMiles: j Acquisibon and Construebon of Capital Assets-- (4,000) (916,000) (4,000) (5,000) (4,000) (3,554,000)
Payments on Capital Lease.-- - (33,000) - - - -
Repayments of Loans from Other {
Funds.. - (587,000) - - - -
l Interest Paid. - (47,000) - - - - i Not Cash Used for Capital and ,
Related Financing ActMties. (4,000) (1,583,000) (4,000) (5,000) (4,000) (3,554,000)
Cash Flows from investing ActMiles:
Receipt of interest on ,;
investments - 1,000 - - - 1,449,000 Net Cash Provided by investing !
ActMties. - 1,000 - - - 1,449,000 f
i' Not increase (Decrease)in Cash and Cash Equivalents (25,000) (557,000) 98,000 (446,000) (31,000) 1,273,000 Cash and Cash Equivalents -
October 1.- 528,000 1,872,000 642,000 839,000 113,000 26,829,000 Cash and Cash Equivalents-September 30 5 503.000 $ 1,315,000 $ 740,000 5 393,000 8 82,000 5 28,102,000
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t CITY OF TALLAHASSEE, FLORIDA l INTERNAL SERVICE FUNDS !'
COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1994 (Continued)
Penseon Risk Totals Human Admin. Mana9e- Employee Commurs- Intemal September September Resources istration ment Hea!thcare cation Loan 30,1994 30,1993 i
r 8 - 5 - 5 - 5 404,000 5 - $ - $ 407,000 5 348,000 3,785,000 356,000 4,401,000 472,000 421,000 - 43,401,000 46,037,000 (1,164,000) (153,000) (3,587,000) (920,000) (140,000) (48,000) (25,729,000) (24,011,000)
(1,512,000) (163,000) (124,000) - (291,000) - (13,111,000) (12,298,000)
(709.000) (709,000) -
1,109,000 40,000 690,000 (44,000) (10,000) (757,000) 4,259,000 10,076,000 '
r
- - - - - - 1,103,000 -
- - 1,000 - - - 12,000 -
(190,000) - - - - - (519,000) (1,014,000)
(190,000) - 1,000 - - - 596,000 (1,014,000) i i
(25,000) - - - (8,000) - (4,520,000) (2,735,000)
(33,000) (146,000)
- - - - - - (587,000) (360,000)
- - - - - (653,000) (700,000) (723,000) ,
(25,000) .
- - - (8,000) (653,000) (5,840,000) (3,964,000) 106,000 - 527,000 16,000 - 1,129,000 3.228,000 2,927,000 106,000 - 527,000 16,000 - 1,129,000 3,228,000 2,927,000 1,000,000 40,000 1,218,000 (28,000) (18,000) (281,000) 2,243,000 8,025,000 1
3,091,000 62,000 10,138,000 374,000 107,000 2,200,000 45,795,000 37,770,000 5 3.091,000 5 102,000 $ 11,356,000 $ 346,000 $ 89,000 5 1,919,000 5 48.038,000 5 45,795,000 E-7 l
CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1994 (Continued)
Reading informabon Billing and Systems Central Colecton Services Accountng Stores Purchasing Garage Classifled As:
Unrestricted Assets.. $ 503,000 $ 1.187,000 $ 481,000 $ 393,000 $ 82,000 $ 334,000 Restricted Assets. - 128,003 259,000 - - 27,768,000
$ 503,000 $ 1,315,000 $ 740,000 $ 393.000 $ 82,000 $ 28,102,000 Reconcillation of Operating income (Loss) to Not Cash Provided by (Used for)
Operating Acevities:
Operating income (Loss)... , 8 103,000 $ 500,000 $ 159.000 $ ( 85,000) $ ( 51,000) ,8 794,000 Adjustments to Reconcile Operating income (Loss) to Net Cash Provided by (Used for) Operating Activities:
Depreciabon.- . 5,000 383,000 8,000 8,000 2,000 3,117,000 Change in Assets and Liabilities:
(Increase) Decrease in Accounts Receivable . - - - - - 3,000 increase in Other Accounts Receivable.. - - - - - (1,582,000)
(increase) Decrease in inventory... - 19,000 - (500,000) (7,000) (41,000) increase (Decrease)in Accounts Payable.. 1,000 207,000 (14,000) 137,000 (3,000) 10,000 increese (Decrease)in Accrued Leave.- 7,000 8,000 17,000 3,000 (5,000) 28,000 Total Adjustments. ... . 13,000 617,000 ,
11,000 (352,000) (13,000) 1,535.000 Net Cash Provided by (Used for) Operating Activities . . .... $ 118,000 $ 1,117,000 $ 170,000 $ ( 437,000) $ (64,000) $ 2,329,000 i
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CITY OF TALLAHASSEE, FLOR;DA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1994 (Continued)
Pension Risk Totals Human Admin- Manage- Employee Communi- Intemal September September Resources istraton ment Healthcare cation Loan 30,1994 30,1993
$ 342,000 $ 102,000 $ 9,000 $ - $ 80,000 $ - $ 3,522,000 $ 4,160,000 2,749,000 - 11,347,000 346,000 - 1,919,000 44,516,000 41,635,000
$ 3,091,000 $ 102,000 $ 11.356,000 $ 346,000 $ 89,000 $ 1,919,000 $ 48,038,000 $ 45,795,000
$ 1,062,000 $ 48,000 $ ( 216,000) $ (77,000) $ ( 7,000) $ - $ 2,230,000 $ 4.578,000 3,000 - - - 18,000 - 3,544,000 3,423,000
- - (51,000) (15,000) - (26,000) (89,000) 590,000
- - - - - (683,000) (2,265,000) (3,000)
(529,000) 403,000 14,000 (7,000) 968,000 48,000 (27,000) (48,000) 1,286,000 1,046,000 30,000 (1,000) (11,000) - 6,000 - 82,000 39,000 47,000 (8,000) 906,000 33.000 (3,000) (757,000) 2,029,000 5,498,000
$ 1,109,000 $ 40,000 $ 690,000 $ ( 44,000) $ ( 10,000) $ (757,000) $ 4,259.000 $ 10,076,000 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.
Expendable Trust Funds 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 i
Cemetery Perpetual Care Fund--to accumulate resources for the perpetual maintenance of the City's cemeteries.
Scholarship Fund--to account for the monies appropriated to fund scholarships for high school students.
Agency Fund Deferred Compensation Fund--to account for assets held by the City as agent for City employees.
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CITY OF TALLAHASSEE, FLORIDA TRUST AND AGENCY FUNDS COMBINING BALANCE SHEET September 30,1ss4 Pension Nonexpendabee Agency Trust Fund Expendable Trust Funds Trust Funds Fund City Deficieneses Downtown Cemete y Totals Employees' and ;.3,v-, 4 Perpetual Defened Septernber September Pension Emergencies Authonty Radroad Care Sd.o;-, @ Compensabon 30,1 % 4 30,1993 ASSETS Cash and Cash Equrvelents S 550,000 $ 15,247,000 $ 154,000 3 56,000 $ 5,105,000 $ 298,000 $ - 3 21,410,000 $ 16,801,000 Irwestments._, 329,726,000 2,257,000 - - - - 8,510,000 340,493,000 303,821,000 Accounts Receivable 47,000 6,000 - - - - - 53,000 97,000 Due from Other Govemmer* - 162,000 - 316,000 - - - 478,000 369,000 Advance to Other Funds - 44,000 - - - - - 44,000 8,034,000 Fixed Assets - - - 1,378,000 - - - 1,378,000 755,000 Construchon in Progress - - - - - - - -
359.000 Total Assets S 330,323,000 $ 17,716,000 $ 154,000 $ 1,750,000 $ 5,105,000 $ 298,000 $ 8,510,000 $ 363,856,000 $ 330,236,000 LIABluTIES AND FUND BALANCES Uabilities:
Acx:ounts Payabia 3 17,000 $ 121,000 $ 1,000 $ - S - S - S - 3 139,000 $ 93,000 71 Due to Other Funds - - - 339,000 - - - 339,000 184,000'
" Due to Other Govemmer* - - - 22,000 - - - 22,000 39,000 Deferred Co w 1 Payab6= - - - - - - 8,510,000 8,510,000 7,861,000 Deferred Rentalincom= -- - - 11,000 - - - 11,000 -
Total Uebilities 17,000 121,000 1,000 372,000 - - 8,510,000 9,021,000 8,177,000 Fund Balances:
Reserved for Employee Retrement Plans 330,306.000 - - - - - - 330,306,000 295,178,000 Advance to Other Fur * - 44,000 - - - - - 44,000 8,034,000 Fixed Assets - - - 1,378,000 - - - 1,378,000 1,031,000 Total Reserved 330,306,000 44,000 - 1,378,000 - - - 331,728,000 304,243,000 Unreserved:
Desegnated for Annexation. - 954,000 - - - - - 954,000 954,000 Total Designated - 954,000 - - - - - 954,000 954,000 UndesignatM - 16,597,000 153,000 - 5,105,000 298,000 -
22,153,000_ 16,862,000 Total Fund Balances 330,306,000 17,595,000 153,000 1,378,000 5,105,000 298,000 - 354,835,0f G 322,059,000 Total Uabilities and Fund Balances S 330,323,000 $ 17,716,000 5 154,000 $ 1,750,000 3 5,105,000 $ 298,000 $ 8.510,000 $ 363,856,LT S 330,236,000
, . CITY OF TALLAHASSEE, FLORIDA PENSION TRUST AND NONEXPENDABLE TRUST FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BAUWCES For the Fiscal Year Ended September 30,1994 l
Peneen Nonexpendable ,
Trust Fund Trust Fund City Cemetery Totals Employees' Perpetual .
September September ,
Pensen Care Scholarship 30,1994
- 30,1993 ]
Cperating Revenues: .
Investmentincome... . 8 8,773,000 $ 233,000 $ 49,000 $ 7,055,000 $ 15,741,000 investment - Gains NeL 17,784,000 - - 17,784,000 5,637,000 City Conenbubon 13,494,000 - - 13,494,000 12,275,000 Employee Coninbubon 6,976,000 - - 6,976,000 6,769,000 State Coninbubon 887,000 - - 887,000 841,000 Other. 86,000 19,000 - 85,000 ~ $6,000 Total Operating Revenues 45,980,000 252,000 49,000 46,281,000 41,339,000 Cperaung Espenses:
Benefit Payments. 8,363,000 - 1,000 8,364,000 7,295,000 Refunds 1,319,000 - - 1,319,000 1,188,000 insurance. 15,000 - - 15,000 31,000 i Admnstrative.. . . . 1,155,000 - - 1,155,000 978,000 i Total Operating Expenses 10,852,000 - 1,000 10,853,000 9,492,000 i Operating Income . 35,128,000 252,000 48,000 35,428,000 31,847,000 Cperenne Transfers:
Operating Transfers in.- - - 250,000 250,000 -
i Net income . . . - . . . 35,128,000 252,000 298,000 35,678,000 31,847,000 i
Fund Balances - October 1.- , 295,178,000 4,853,000 - 300,031,000 268,184,000 Fund Balances September 30 $ 330,306,000 $ 5,105,000 $ 298,000 $ 335,709,000 $ 300,031,000 - '
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CITY OF TALLAHASSEE, FLORIDA ;
PENSION TRUST Afc N00 EXPENDABLE TRUST FUNDS COMBINING STATEMENT OF CASH FLOWS i For the Fiscal Year Ended September 30,1994 i
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Pension L- ; .
Trust Fund Trust Fund {
Cay Cemetery Totals Employees' Perpetual September September Pension Care Scholarship 30,1994 30,1993 ,
incrosse (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operating Activities:
Ceeh Recahed from Customers 8 - 8 19,000 $ - $ 19,000 $ 15,000 ;
Employer Contributions 13,494,000 - - 13.494,000 12,275,000 j Employee Contributions 6,976,000 - - 8,976,000 6,789,000 j State Contribubane a87,000 - - a87,000 a44,000 l Bene 8ts Poid. (8,310,000) - (1,000) (8,364,000) (7,295,000)
Refunds Poid. (1,319,000) - - (1,319,000) (1,188,000) [
Admsnistrative Cast Paed (1,170,000) - .- (1,170,000) (1,008.000) t Not Cash Provided by (Used for) Operating Activities 10,505,000 19,000 (1,000) 10,523,000 10,432,000 i Cash Flows from Noncapital Financing Activities: ,
Operating Transfers in from other Funds. - - 250,000 250.000 -
Not Cash Provided by Noncapital Financing Activities - - 250,000 250,000 -[
Cash Flows from investing Activities: i Purcheme of investment Securities (232,623,000) - - (232,623,000) (297,085,000) [
Proceeds from Sale and Maturtties of Invoetment Securtbes 196,534,000 - - 196,534,000 258,676,000 Receipts of Irmerest on investments. : 24.657,000 233,000 49,000 24,939.000 21,419,000 ,
Not Cash Provided by (Used for) investing Activities (11,432,000) 233,000 49,000 (11,150,000) (16,900,000) !
Not incrosse (Decrease) in Cash and Cash Equivalents (927,000) 252,000 298,000 (377,000) (6,558,000) i Ceeh and Cash Equivalents Odober 1- 1,477,000 4.853,000 - 6,330,000 12,888,000 l Csth and Cash Equivalents
- C-i-Er 30 . $ 550,000 $ 5,105,000 $ 298,000 $ 5,953,000 $ 6,330,000 Clissified As: f Unrestricted Assets. S 550,000 $ 5,105,000 $ 298,000 $ 5,953,000 $ 6,330,000 Reconciliation of Operating income to Not Cash Frovided by Operating Activities:
Operating income $ 35,128,000 $ 252,000 $ 48,000 $ 35,428,000 $ 31.847,000 i A4ustments to Reconcile Operat6ng income to f Ta Cash Provided by Operating Activities: l Decrosse in Accounts Recesvoble *4,000 - -- 34,000 3,000 ,
1 increses in Accounts Payable - - - - - 1,000 Receipts of interest on investments (24.057,000) (233,000) (49,000) (24,939,000) (21,419,000) f Total Adjustments - . (24,623,000) (233.000) (49,000) (24,905,000) (21,415.000) :
Not Cash Provided by (Used for) Operating Activities $ 10,505,000 $ 19,000 $ ( 1,000) $ 10,523,000 $ 10,432,000 t
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CITY OF TALLAHASSEE, FLORIDA EXPEmam F TRUST FUNDS COM84NING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES Di FUND BALANCE For the Fiscal Year Ended September 30,1994 Deficiencies Downtown Totals and imprownent September September Emer9encies Authority Railroad 30,1994 30,1993 Revenues:
Taxes- S - S 95,000 $ - S 95,000 $ 88,000 interset. 1,017,000 9,000 2,000 1,028,000 1,515,000 Mescellaneous. 68,000 - - 68,000 500,000 Rentelincome - - 22,000 22,000 77,000 Intergovemmental Revery ==-_
- - 210,000 210,000 931,000 Total Revenues 1,085,000 104.000 234,000 1,423,000 3.120,000 Expenditures:
Current:
Culture and Recreation.- 472,000 107,000 - 579,000 850,000 Tmnsportation, - - 20,000 20,000 -
Dietribubon of Eamm9s - - 4,000 4.000 78.000 Total Expenditures 472,000 107,00_0 24.000 603,000 737,000 Excess Revenues Over (Under)
Expenditures -. 613,000 (3,000) 210.000 820,000 2,383.000 Other Financing Sources (Uses):
Operatin9 Transfers in. 125,000 - - 125,000 1,118,000 Operatin9 Transfere (Out)._ (3,984.000) - - (3.984,000) (1,039.000)
Total Other Financing Sources (Uses) (3.859,000) - - (3,859,000) 79,000 Excess of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses .. (3,246,000) (3,000) 210,000 (3,039,000) 2,462,000 Fund Balances . October 1 -- 20,841,000 156,000 1,031,000 22,028,000 26,125,000 Residual Equity Transfer in.. - - 137,000 137,000 100,000 Residual Equity Transfer Out. - - - - (6,859.000)
Fund Balances . September 30 $ 17,595,000 $ 153,000 5 1,378,000 5 19,126,000 $ 22.028,000 :
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l CITY OF TALLAHASSEE, FLORIDA j DEFERRED COMPENSATION FUND STATEMENT OF CHANGES IN ASSETS AND LIABIUTIES For Fiscal Year Ended September 30,1994 1
Balance Balance October 1, September 30, 1993 Additions Deductions 1994 ASSETS :
Irwestments.. 37,861,000 $1,255,000 8 606,000 $ 8,510,000 Total Assets. , _ $7,861,000 $1,255,000 8 606.000 & 8,510,000 UABluTIES Deferred Compensation Payable._ $7,861,000 51,255,000 $ 606.000 8 8.510,000 Total Usbilities $7,861,000 $1,255,000 $ 606.000 $ 8,510,000 k
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GENERAL FIXED ASSETS '
ACCOUNT GROUP To account for fixed assets not used in Proprietary Fund operations or accounted for in Trust Funds.
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CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCES September 30 1994 1993 GeneralFixed Assets:
Land.- 3 27,540,000 5 25,559,000 Buildings.-- 36,788,000 35,654,000 Improvements other than Buildogs.- 11,051,000 9,297,000 Equipment... 13,281,000 11,983,000 15,359,000 '
Construchon in Progress.- 20,819,000 Equity investment in Railroad Fund.. 689,000 555,000 Total General Fixed Assets .. 5 110,168,000 $ 98,407,000 >
Investment in General Fixed Assets from:
General Revenue Bonds,. 5 31,238,000 5 26,958,000 General Fund Revenues.- ... 21,900,000 21,093,000 Grants.. 7.345,000 7,345,000 Capitalimprovement Fund.- 43,450,000 38,716,000 Gifts . 792,000 792,000 Stormwater Management Fund.. 114,000 118,000 Sales Tax Construebon Fund.- 4,640,000 2.830,000 Equity investment in Railroad Fund -_ 689,000 555,000 Totalinvestment in General Fixed Assets 5 110,168,000 $ 98,407,000 ;
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CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF GENERAL FIXED ASSETS -
IJY FUNCTION AND ACTMTY September 30,1994 improvements Other Than Total Land BuildinDs BuildinDs Equipment General Govemment:
Control:
City Commission.. $ 13,000 $ - $ - $ - $ 13,000 City Manager.. 40,000 - - - 40,000 City Treasurer. Clerk... 27,000 - - - 27,000 City Attomey_ _ 2,000 - - - 2,000 City Auditor 76,000 - - - 76,000 Total Control. . 158,000 - - - 158,000 Staff Agencies:
Management and Budget... 11,000 - - - 11,000 Minority Business.. 8,000 - - - 8,000 Engineering . 649,000 - 427,000 - 222,000 Public Information.. 193.000 - - 72,000 121,000 Code Enforcement... 15,000 - - - 15,000 General Govemment Building.. . 47,997,000 13,152,000 22,951,000 7,290,000 4,604,000 Community Development... 3,990,000 333,000 3,558,000 7,000 92,000 Growth Management... 9,000 - - - 9,000 Cable Communications.. 3,000 - - - 3,000 Environmental Services.. 38,000 - - - 38,000 TotalStaff A0encies .. 52,913,000 13,485,000 26,936,000 7,369,000 5,123,000 Total General Govemment. . 53,071,000 13,485.000 26,936,000 7,369,000 5,281,000 Pubile Safety:
Fire Protection.. 6,347,000 410,000 2,752,000 30,000 3,155,000 Police Protection.. 6,325,000 500,000 3,065,000 67,000 2,693,000 Building inspection.. 42,000 - - 1,000 41.000 Total Public Safety. . . 12,714,000 910,000 5,817,000 98,000 5,889,000 Other:
Highways and Streets.. 8,913,000 7,481,000 125,000 122,000 1,185,000 Sanitation.. 5,000 - - - 5,000 Recreation.. 13,874,000 5,664,000 3,890,000 3,402,000 918,000 Cemeteries.. 83,000 - 20,000 60,000 3,000 Total Other 22,875,000 13,145,000 4,035,000 3.584,000 2,111,000 Total General Fixed Assets Allocated to Functions. . 88,660,000 $ 27,540,000 $ 38,788,000 $ 11,051,000 $ 13.281,000 Construction in Process.. 20,819,000 Equity investment in Railroad Fund.. 689,000 TotalGeneralFixed Assets $ 110,168,000 i
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CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS -
BY FUNCTION AND ACTMTY For the Fiscal Year Ended September 30,1994 l
General Additions Deductions General !
Fked Assets And And Fked Assets !
October 1,1993 Transfers in Transfers out September 30,1994 l General Government:
Control: l City Commission. $ 12,000 $ 1,000 $ -
$ 13,000 City Manager- 42,000 1,000 3,000 40,000 City Treasurer. Clerk... 210,000 - 183,000 27,000 City Attomey - 2,000 - 2,000 City Auditor:- 73.000 3,000 - 76,000 TotalControt . 337,000 7,000 186,000 158,000 Staff Agencies:
Management and Budget... 13,000 - 2,000 11,000 ;
Minority Business... 7,000 1,000 - 8,000 Engineering.. 632.000 17,000 - 649,000 Public information.. 182,000 13,000 2,000 193,000 Code Enforcement.. 15,000 - - 15,000 General Govemment Building.. 45,505,000 2,492,000 - 47,997,000 Community Development... 4,217,000 3,000 230,000 3,990,000 Growth Management... 12,000 - 3,000 9,000 Cable Communications.. - 3,000 - 3,000 Environmental Services.. 38,000 - - 38,000 TotalStaff Agencies 50.621,000 2,529.000 237,000 52.913,000 Public Safety:
Fire Protection.. 5,969,000 398,000 20,000 6,347,000 Polece Protection.. 5,421,000 904,000 - 6,325,000 Building inspection... 48.000 1,000 7,000 42,000 Total Public Safety 11,438,000 1,303,000 27,000 12.714,000 Other:
Highways and Streets.. 8,902,000 156,000 145,000 8,913,000 Sanitation.. 8,000 - 3,000 5,000 Recreation.. 11,106,000 2,772,000 4,000 13,874,000 Cemeteries.. 81,000 3,000 1,000 83,000 Total Other . . 20,097,000 2,931.000 153,000 22,875,000 Construction in Progress.. 15,359,000 11,845,000 6,385,000 20,819,000 Equity investment in Railroad Fund.. 555,000 134,000 - 689,000 Total General Fixed Assets $ 98,407.000 $ 18,749,000 $ 6.988,000 $ 110,168,000 G-3
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GENERAL LONG-TERM DEBT ACCOUNT GROUP T accoun o eneral long-tenn liabilities not accounted for in proprietary 1
CITY OF TALLAHASSEE, FLORIDA COMMENTS ON THE STATISTICAL SECTION September 30,1994 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 E
M sustain these ratings. In several cases, its ratings have increased.
l Additional schedules which are felt to be useful to various users, principally investors, underwnters, and rating I
agencies, have been included in this section.
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CITY OF TALLAHASSEE, FLORIDA GENERAL GOVERNMENT EXPENDITURES BY FUNCTION AND TRANSFERS 3 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 )
1985 5 5,509,000 $ 15,955,000 $ 6,242,000 $ 830,000 $ 244,000 $ 5,724,000 $ 4,171,000 $ 11,769,000 $ 50,444,000 1986 6,165,000 16.347,000 5,998.000 914,000 257,000 5,578,000 4,571,000 17,834,000 57,664,000 1987 6.661.000 18,113,000 7.054,000 989,000 265,000 7,517,000 4,720,000 14,152,000 59,471,000 1988 6,890,000 21,144,000 6.979,000 1,007,000 274,000 956,000 4,404.000 16,635,000 58,289,000 1989 8,036,000 27,416,000 6.711,000 1,109.000 434,000 1,283,000 4,809,000 19,359,000 69,157,000 1990 9.377,000 29,000,000 7,999,000 1,223,000 502.000 1,691.000 5,412,000 24,598,000 79,802,000 l 1991 11.434,000 32,117,000 8,078,000 1,438,000 549,000 2,519,000 6,540,000 23,785,000 86,460,000 1992 12,817,000 34,081,000 8,845,000 1,799,000 715,000 2.751,000 7,199,000 30,374,000 98,581,000 1993 13.034,000 35,799,000 9,174,000 2,366,000 755,000 2,611,000 7,690,000 23.885,000 95,314,000 j l
1994 13.533,000 35,624,000 9,539,000 2,567,000 672,000 2,605,000 8,234,000 24,942,000 97,716,000 l
l GENERAL REVENUES BY SOURCE AND TRANSFERS I Last Ten Fiscal Years Licenses Fines Charges (2) Inter-Fiscal and and for govemmental Miscellaneous Transfers Total (1)
Year Taxes Permits Forfeitures _ Services Interest Revenues Revenues in Revenue 1985 $ 10,973,000 $ 850,000 $ 485.000 $ 4,144,000 $ 434,000 $ 10,137,000 $ 267,000 $ 22,734,000 $ 50,024,000 1986 13,444,000 1,103,000 592.000 6,610,000 503,000 7,501,000 870,000 28,592,000 59,215,000 1987 14.380,000 997,000 752,000 8,809,000 298,000 7,710,000 826,000 25,400,000 59,172,000 '
1988 17,877,000 1,367,000 753,000 3,186,000 296,000 8,811,000 837,000 26,455,000 59,582,000 1989 19.021,000 1,410,000 987,000 6,188,000 437,000 8,972,000 825,000 30 247,000 68,087,000 1990 25,692.000 1,426,000 1,270,000 6,506,000 589,000 9,667,000 755,000 33,970,000 79,875,000 1991 30,394.000 1,807,000 1,109.000 7,673,000 523,000 9,233,000 508.000 35,487,000 86,734,000 1992 32,117,000 2,056,000 1,271,000 8,574,000 382,000 8,897,000 388.000 44,655,000 98,340,000 1993 23,261,000 2,234,000 1,321,000 10,945,000 296,000 10,707,000 740,000 45,747,000 95,251,000 1994 25,261,000 2,669,000 1,387,000 11,563,000 326,000 10,129,000 917,000 ~ 46,376,000 98,628,000 (1) includes General Fund only.
(2) Solid Weste, 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 Yerr Valuation Valuation Levy Collection Percent (1) 1985 $ 3,438,932,000 $ 1,976,951,000 $ 4,919,000 $ 4,800,000 98 1986 3,630,822,000 2,121,548,000 5,278,000 5,141,000 97
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1987 3,834,850,000 2,278,952,000 5,670,000 5,500,000 97 1988 5.266,046,000 2,406,247,000 6,978,000 6,744,000 97 1989 5,870,328,000 2,537,446,000 7,359,000 7,107,000 97 1990 6,119,396,000 2,738,165,000 7,975,000 7,759,000 97 1991 6,361,162,000 2.942,911,000 9,460,000 9,106,000 96 1992 6,584,152,000 3,157,138,000 10.147,000 9,796,000 97 1993 6,720,821,000 3,258,882,000 10,471,000 10,124,000 97 1994 8,389,730,000 3,736,737,000 11,305,000 10,906,000 96 (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.
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CITY OF TALLAHASSEE, FLORIDA ASSESSED AND ESTMATED ACTUAL VALUE OF TAXAELE PROPERTY ?
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Last Ten Fiscal Years ;
Ratto of Total Real Property Personal Property ,, g,?* ally Assessed Totals Assessed Estimated Estimated Estunated Estimated to Total Fisca! Assessed Actual Assessed Actual Assessed Actual Assessed Actual Estimated Year Value Value Value Value Value Value Value Value Actual Value 1985 3 3,011,116,000 $ 3,542,490,000 $ 426.460,000 $ 501.718,000 $ 1.356,000 $ 1,595,000 $ 3,438,932,000 $ 4,045,803.000 85 %
4 l 1986 3,191,140,000 3,754,282,000 438,362.000 515,720,000 1,320,000 1,553,000 3,630,822,000 4,271,555,000 85%
1987 3,373,832,000 3,969.215,000 459,105,000 540,124,000 1,913.000 2,250,000 3,834,850,000 4,511,589,000 85%
1988 4,770,490,000 5,612.341,000 493,616,000 580,725,000 1,940,000 2,282,000 5,266,046,000 6,195,348,000 85%
1989 4,889,803.000 5,752,709,000 978,850,000 1,151,589,000 1,675.000 1,970,000 5.870,328,000 6,906,268,000 85%
1990 5,119,778,000 6,023,268,000 997,936,000 1,174,043,000 1,682,000 1,979,000 6,119,396,000 7,199,290,000 85 % l 1991 5,322.947,000 6,262,291,000 1,036.487,000 1,219,396,000 1,728,000 2,033,000 6.361,162,000 7,483,720,000 85%
l 1992 5,511,272,000 6,483.849,000 1,071,207,000 1,260,244,000 1,673.000 1,968,000 6,584,152,000 7,746,061,000 85%
1993 5,628,046.000 6,621,231,000 1.091,204,000 1,283.769,000 1,571,000 1,849,000 6,720,821,000 7,906.849,000 85%
1994 7.002,886.000 8,238,689,000 1,385,137,000 1,629,573,000 1,707,000 2,008,0L0 8,389,730,000 9,870,270,000 85 % ,
Source: Leon County Property Appraiser i
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CITY OF TALLAHASSEE, FLORIDA t
ASSESSED VALUATIONS,IRILLAGE AND TAXES f
LEVIED AND COLLECTED Last Ten Fiscal Years 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 !
TOTALVALUATIONS S 3 438 932.000 3 3 630 822 000 S 3.834 850 000 35,266.046 000 55 870.328 000 $ 6119 396.000 5 6 361.162.000 $ 6 584.152.000 3 6.720.821.000 S 8 389.730 000 l
REAL ESTATE EXEMPTIONS Agncutural Adystment . .. . .__ 5.006.000 6.02G.000 9.397.000 10.668.000 8.479.000 8.187.000 12,004.000 28.477,000 36.068.000 27.503,000 Govemment Exempem . _
591.436.000 616.124.000 632.282.000 2,128.416 000 2.589 404.000 2.620.076.000 2.632.150.000 2.630.197.000 2.637.332.000 3.771.466.000 ins'ituteal Eremphon .... ......- 449 662.000 461.980.000 472.878.000 265.412.000 262.485.000 263 289 000 266.278.000 241.928.000 245.874.000 277.262.000 Insedualor Homstead Eremptions _.. 410,780.000 419 965.000 435.643.000 449.804.000 466 744.000 484.068.000 502.192.000 520.241.000 $36.550.000 570.267 000 Other Chantable Ewemptions_ 5 097.000 5.179.000 5 698 000 5 499 000 5.770.000 5.611.000 5.627.000 6 171.000 6.115.000 6.495.000 '
TOTAL EXE1pPTION AND ADJUSTMENTS 1.461.981.000 1.509.274.000 1.555.898.000 2.859.799.000 3.332.882.000 3.381.231.000 3.418251.000 3.427.014.000 3.461.939.000 4.652.993.000 l
[ TAXABLE VALUATION 5 1 976 951.000 $ 2.121.548.000 $ 2.278 952.000 32.406 247.000 52.537.446.000 S 2.738.165.000 5 2 942.911.000 $ 3.157.138 000 S 3 258 882.000 $ 3.736 737.000 MILLAGE LEVIED 2 488 2 488 2488_ 2900 2 900 2 900 3 200 3 200 3 200 3 200 TOTAL TAMES LEYtED S 4 919 000 5 5.278.000 S 5 670.000 $ 6 978.000 $ 7.359 000 $ 7.975 000 $ 9 460 000 S 10,147Q S 10.471.000 $ 11.305 000 Less Ao!ustments & Discount. 134.000 142.000 174.000 215.000 319.000 231.000 273.000 302.000 323.000 367,000 Net Tawes tevied . . ... S 4,785 000 $ 5.136.000 $ 5498000 $ 6.763.000 5 7.040.000 $ 7.744 000 $ 9.187.000 5 9 845.000 S 10.148 000 5 10,938.000 NET COLLECTED (1)(2) S 4.800.000 3 5.141.000 5 5.500.000 $ 6.744.000 5 7.107.000 5 7.759 000 $ 9.106 000 S 9.796.000 $ 10.124.000 S 10.906.000 Source. Leon f.eurWy Property Appnpser (1) Flonda Statutes promde for a escount of up to four percent Ibr earty payment of ad valorem taxes. AR unpaid taxes become dennquete en Apn11 and are sold at auction on June 1 of each year as tax certmcates The cry. aner su tax cert 6 cates are sud. has fury collected a0 ad valorem tax revenues (2) Net conected neludes penalbes or late peymer#s f
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CITY OF TALLAHASSEE, FLORIDA PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS I (Per $1000)
Last Ten Fiscal Years Crty of Tallahassee County School Board Leon County N.W. Water Fiscal Debt Management Year Operating Operating Service Operating Drstrict Total 1985 52.49 57.13 50 25 55.17 50.05 515.09 ,
1986 2.49 7.11 0.21 5 45 0.05 15.31 i
1987 2.49 7.56 0.20 5.00 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 22.17 ;
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 1994 3 20 9.03 1.47 8.66 0 05 22.41 ,
f Source: Leon County Tax Collector SPECIAL ASSESSMENT COLLECTIONS l Last Ten Fiscal Years Assessments Assessments Fiscal Due Assessments Assessments Due Year October 1 Levied Collected September 30 .
I 1985 5797,000 569,000 $237,000 5629,000 '
1986 629,000 343,000 111,000 861,000 1987 861,000 309,000 241,000 929,000 1988 929,000 - 228,000 701,000 1989 701,000 - 132,000 569,000 !
1990 569,000 - 146,000 423,000 )
t 1991 423,000 130,000 115,000 438,000 j 1992 438,000 160,000 188,000 410,000 1993 410,000 127,000 91,000 446,000 446,000 178,000 1994 -
268.000 )
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CITY OF TALLAHASSEE, FLORIDA COMPUTATION OF LEGAL DEST MARGIN September 30,1994 TAXABLE ASSESSED VALUE.. . , $ 3,736,737,000 Debt Limit 20 Percent of Assessed Value.. $ 747,348,000 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.
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CITY OF TALLAHASSEE, FLORIDA COMPUTATION OF DIRECT AND OVERLAPPING DEBT September 30,1994 '
DIRECT DEBT ;
Non-Self-Supporting Revenue Debt:
Capital Bonds, Series 1989. 5 2,255,000 Capital Bonds Series,1993 A & B.. . 25,210,000 !
Less: Debt Service and Reserve Funds.. (3.566.000)
Total Direct Debt.. 5 23,899,000 OVERLAPPING DEBT Leon County School Board Tax Supported Ad Valorem Debt:
General Obligation Bond issue 1993 Refunding . $ 41,405,000 Less: Debt Service and Reserve Funds . (3.994.000) $ 37,411,000 1991 Refunding., 36,745,000 Less: Debt Service and Reserve Funds.. (3.991.000) 32,754,000 ;
State Board of Education.. 3,080,000 Less: Debt Service and Reserve Funds.. (104.000) 2,976,000 1
Race Track School Portion Revenues.. 1,820,000 Less: Debt Service and Reserve Funds . (447.000) 1,373,000 ;
Leon County !
Non-Self-Supporting Revenue Debt Refunding Bonds 1991 Series .
Courthouse . 32,195,000 Less: Debt Service and Reserve Funds.. - 32,195,000 Refund Revenue Bonds 1988 Series . 2,350,000 Less: Debt Service and Reserve Funds.. - 2,350,000 Library Construction Revenue.. 810,000 Less: Debt Service and Reserve Funds.. - 810,000 Jail Construction, Series 1991.. 42,535,000 Less: Debt Service and Reserve Funds.. (5.133.000) 37.402.000 ,
147,271,000 l CITY SHARE OF NET OVERLAPPING DEBT (1).. , 100,144,000 l TOTAL CITY DIRECT AND OVERLAPPING DEBT.. .. $ 124.043.000 l l
SELF-SUPPORTING REVENUE DEBT: ,
Electric Revenue Bonds.. $ 114,938,000
$ 103,015,000 I Less: Debt Service and Reserve Bonds . (11.923.000)
CUS Revenue Bonds.. 85,685,000 j Less: Debt Service and Reserve Bonds.. (7.942.000) 77,743,000 Airport Revenue Bond . 16,865,000 i Less: Debt Service and Reserve Bonds.. , (1,959,000) 14,906,000 {
Sunshine State Loan.. 21,700,000 Less- Debt Service and Reserve Bonds.. (742.000) 20.958.000 ;
TOTAL SELF-SUPPORTING REVENUE DEBT $ 216,622.000 (1) City's share calculated based on 1994 County Taxable Value of $5,533,545,000 and City Taxable Value of $3,736,737,000 percent overlapping 68 percent.
18 ;
)
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEP,7 SERVICE REQUIREMENTS CAPITAL BONDS - SERIES 1989 September 30, d.994 i
Fiscal Year Ending Principal Interest Total 1995 $ 700,000 $ 132,000 $ 832,000 1996 750,000 82,000 832,000 '
1997 805.000 28.000 833,000 Totals 5 2,255.000 $ 242,000 $ 2.497,000 l
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 ,
Bonds Maturing Call Premium l October 1,1996 to September 30,1997 Two Percent October 1,1997 to September 30,1998 One Percent Security: The Bonds are, on parity with the outstanding Capital Refunding Bonds, Series 1984, payable solely from and secured by a first hen 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 A+
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l-9 s
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CAPITAL BONDS SERIES 1993A i September 30,1994 Fiscal Year Ending Principal Interest Total 1995 $ 950,000 $ 791,000 $ 1,741,000 1996 980,000 761,000 1,741,000 1997 1,015,000 727,000 1,742,000 1998 1,055,000 688,000 1,743,000 1999 1,095,000 646,000 1,741,000 2000 1,145,000 600,000 1,745,000 2001 1,195,000 549,000 1,744,000 2002 1,245,000 496,000 1,741,000 2003 1,305,000 438,000 1,743,000 2004 1,365,000 377,000 1,742,000 2005 1,430,000 312,000 1,742,000 2006 1,500,000 241,000 1,741,000 2007 1,575,000 166,000 1,741,000 2008 1,655,000 86,000 1,741,000 Totals 5 17,510.000 $ 6,878,000 $ 24,388,000 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 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 Govemment 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 parity 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 l-10
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CAPITAL BONDS SERlES 1993B September 30,1994 Fiscal Year Ending Principal Interest Total 1995 $ -
$ 404,000 $ 404,000 1996 - 404,000 404.000 1997 - 404,000 404,000 1998 -
404.000 404,000 1999 -
404.000 404,000 2000 - 404,000 404.000 2001 -- 404,000 404,000 2002 - 404,000 404,000 2003 -
404.000 404,000 2004 -
404.000 404,000 2005 - 404,000 404,000 2006 - 404,000 404,000 2007 - 404,000 404,000 2008 - 404,000 404,000 2009 1,620,000 404,000 2,024,000 2010 1,705,000 319,000 2.024,000 2011 1,795,000 230,000 2,025,000 2012 2,580.000 136,000 2,716,000 Totals $ 7,700.000 $ 6,745.000 $ 14,445,000 Bonds Dated: July 1,1993 Originalissue Amount: 57,700.000 Principal Due: October 1, beginning 2009 Int: rest Da: April 1 and October 1 of each year, beginning April 1,1993 P ying 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 cnd redemption price thereof and interest thereon in accordance with their terms and the provisions of R: solution No. 84-R-1305, as amended and supplemented (the
- Original 1: aiution"), and Resolution No. 93-R-0026, cs cmended and supplemented (together with the Original Resolution, the " Resolution"), solely by a pledge of cnd 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 th; rein. The Series 1993 Bonds are being issued on a parity with the City's Capital Refunding Bonds, S;nes 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 l-11
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQU:REMENTS JUNIOR LIEN ELECTRIC REVENUE BONDS SERIES 1992A September 30,1994 I
Fiscal Year ,
Ending Principal interest Total 1997 $ 1,424,000 $ 224,000 $ 1,648,000 2002 1.387.000 238.000 1.625.000 Totals 5 2.811,000 $ 462.000 $ 3.273.000 Bonds Dated: January 23,1992 Originalissue Amount: $2,862,000 l
Approximated Matunty Comoounding Rate 2/1/1997 5 57 %
2/1/2002 6.09 %
Security: The Series 1992A Bonds ate secured by the Pledged Revenues on a panty with the City's Junior Lien Electric Revenue Bonds, Series 1985.
Bonds are subject to redemption prior to stated maturities and are presented at face amount outstanding.
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s 1-12
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS ELECTRIC REFUNDING REVENUE BONDS SERIES 1992A September 30,1994 Fiscal Year Ending Principal interest Total 1995 $ 4,275,000 $ 3,866,000 $ 8,141,000 1996 4,445,000 3,695,000 8,140,000 1997 4,645,000 3,499,000 8,144,000 1998 4,860,000 3,281,000 8,141,000 1999 5,100,000 3,043,000 8,143,000 2000 5,360,000 2,783,000 8,143,000 2001 5.640,000 2,501,000 8,141,000 l 2002 5,950,000 2,191,000 8,141,000 2003 6,285,000 1,858,000 8,143,000 2004 2,645,000 1,497,000 4,142,000 2005 7,030,000 1,343,000 8,373,000 2006 7,445,000 928,000 8,373,000 2007 7,895,000 482,000 8,377,000 Totals $ 71,575,000 $ 30,967,000 $ 102,542,000 Bonds Dated: November 1,1992 Originalissue Amount: $75,700,000 Principal Due: October 1, beginning 1994 Inttrest Due: April 1 and October 1 of each year, beginning April 1,1993 P ying Agent: First Union National Bank of Florida, Jacksonville, Florida Sicurity: The Series 1992 Bonds will be payable solely from and secured as to payment of principal End redemption price thereof and interest thereon in accordance with their terms and the provisions of tha 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.
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 l-13
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS ELECTRIC REVENUE BONDS s SERIES 19928 September 30,1994 Fiscal Year Ending Principal interest Total 1995 5 -
$ 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 i 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 1,846,000 8,616,000 2010 7,195,000 1,423,000 8,618,000 2011 7,640,000 977,000 8,617,000 2012 8.110.000 503.000 8.613,000 Totals S 40 090.000 $ 38.443.000 $ 78,533,000 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 April 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 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 l provisions of the Resolutions permitting the application thereof for the purposes of and on the terms and conditions set forth in the Resolutions.
I Optional Redemption Redemption Price i October 1,2002 to September 30,2003 One Hundred and Two Percent ;
October 1,2003 to September 30,2004 One Hundred and One Percent i October 1,2004 and thereafter One Hundred Percent ;
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS AIRPORT REVENUE BONDS SERIES 1988A September 30,1994 Fiscal Year Ending Principal Interest Total 1995 $ 270,000 $ 895,000 $ 1,165,000 1996 290,000 877,000 1,167,000 l 1997 310,000 857,000 1,167,000 l 1998 330,000 835,000 1,165,000 1999 355,000 811,000 1,166,000 2000 380,000 785,000 1,165,000 2001 410,000 757,000 1,167,000 2002 440,000 727,000 1,167,000 2003 470,000 693,000 1,163,000 l
2004 510,000 657,000 1,167,000 2005 550,000 618,000 1,168,000 2006 590,000 575,000 1,165,000 2007 635,000 529,000 1,164,000 2008 685,000 480,000 1,165,000 2009 740,000 427,000 1,167,000 2010 795,000 369,000 1,164,000 s 2011 860,000 306,000 1,166,000 2012 930,000 238,000 1,163,000 -
2013 1,000,000 164,000 1,164,000 2014 1.080,000 85.000 1.165,000 Totals $ 11,630.000 $ 11,685.000 $ 23.315,000 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 Secunty: 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 2005 550,000 2010 795,000 2006 590,000 2011 860,000 2007 635,000 2012 930,000 2008 685,000 2013 1,000,000 2014 1,080,000 Optional Redemption Redemption Price October 1,1995 to September 30,1996 One Hundred Three Percent October 1,1996 to September 30,1997 One Hundred Two Percent October 1,1997 to September 30,1998 One Hundred One Percent l
October 1,1998 and thereafter One Hundred Percent 1-15
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CONSOLIDATED UTILITY REVENUE BONDS SERIES 1991 A September 30,1994 Fiscal Year Ending Principal interest Total 1995 $ 175,000 $ 250,000 $ 425,000 1996 185,000 241,000 426,000 i 1997 195,000 230,000 425,000 1998 205,000 219,000 424,000 1999 215,000 207,000 422,000 2000 230,000 195,000 425,000 .
2001 245,000 181,000 426,000 ,
2002 260,000 166,000 426,000 2003 275,000 150,000 425,000 2004 290,000 132,000 422,000 2005 310,000 113,000 423,000
[
2006 330,000 93,000 423,000 2007 350,000 72,000 422,00') '
2008 375,000 49,000 424,000 2009 380,000 25,000 405,000 i
Totals 5 4,020,000 $ 2,323,000 $ 6,343,000 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-16 l
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CONSOLIDATED UTILITY REVENUE BONDS SERIES 19918 September 30,1994 Fiscal Year Ending Principal interest Total 1995 $ 1,090,000 $ 2,914,000 $ 4,004,000 1996 1,150,000 2,852,000 4,002,000 1997 1,220,000 2,785,000 4,005,000 1998 1,290,000 2,713,000 4,003,000 1999 1,370,000 2,636,000 4,006,000 2000 1,450,000 2,552,000 4,002,000 2001 1,540,000 2,462,000 4,002,000 2002 1,635,000 2,365,000 4,000,000 2003 1,745,000 2,259,000 4,004,000 2004 1,865,000 2,144,000 4,009,000 2005 1,985,000 2,021,000 4,006.000 2006 2,120,000 1,888,000 4,008,000 2007 2,265,000 1,744,000 4,009,000 2008 2,415,000 1,592,000 4,007,000 2009 2.595,000 1,430,000 4,025,000 2010 3,170,000 1,256,000 4,426,000 2011 3,390,000 1,037,000 4,427,000 2012 3,625,000 804,000 4,429,000 l 2013 3,875,000 553,000 4,428,000 2014 4,145,000 286,000 4.431,000 Totals S 43,940,000 $ 38,293,000 $ 82,233,000 Bonds Dated: July 1,1991 OriginalIssue Amount: $47,785,000 Principal Due: October 1, beginning 1991 Interest Due: April 1 and October 1 of each year, beginning 1991 Optional Redemption for B Bonds maturing on or After October 1,2001 Reoemption 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 19918 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.
Bond Ratings: Moody's Aa, Standard and Poor's AA-1-17
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS i CONSOLIDATED UTILITY REVENUE BONDS I SERIES 1994 September 30,1994
[
Fiscal [
Year !
Ending Principal Interest Total 1995 5 -
$ 2,565,000 $ 2,565,000 1996 - 2,199,000 2,199,000 1997 865,000 2,199,000 3,064,000 1998 905,000 2,159,000 3,064,000 1999 950,000 2,117,000 3,067,000 !
2000 995,000 2,071,000 3,066,000 ;
2001 1,045,000 2,022,000 3,067,000 2002 1,095,000 1,970,000 3,065,000 2003 1,150,000 1,914,000 3,064,000 2004 1,210,000 1,853,000 3,063.000 ,
2005 1,280,000 1,787,000 3,067,000 2006 1,350,000 1,717,000 3,067,000 2007 1,425,000 1,641,000 3,066,000 2008 1,505,000 1,560,000 3,065,000 2009 1,590,000 1,473,000 3,063,000 2010 1,685,000 1,379,000 3,064,000 2011 1,785,000 1.278,000 3,063,000 ,
2012 1,895,000 1,168,000 3,063,000 2013 2.015,000 1,052,000 3,067,000 t 2014 2.135,000 928,000 3,063,000 l 2015 2,270,000 796,000 3,066,000 2016 2,410,000 656,000 3,066,000 2017 2,560,000 506.000 3.066,000 2018 2.720,000 348.000 3,068,000 2019 2,885,000 179,000 3.064,000 Totals $ 37,725.000 $ 37,537,000 $ 75.262.000 Bonds Dated. August 1,1994 Onginalissue Amount: $37,725,000 Pnncipal Due: October 1, beginning 1997 Interest Due: April 1 and October 1 of each year, beginning 1995 Optional Redemption Redemption Price October 1,2003 to September 30,2004 One Hundred and Two Percent October 1,2004 to September 30,2005 One Hundred and One Percent October 1,2005 and thereafter One Hundred Percent Secunty: The Series 1994 Bonds are payable from and secured by a pledge and lien on (i) money in certain 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 desenbed herein under the heading "THE SERIES 1994 BONDS." The hen of the Senes 1994 Bonds on the Pledged Revenues is on a parity with the hen thereon of the City's Consolidated Utility Systems Revenue Bonds Series 1991 A & 1991B.
Bond Ratings Moody's Aa, Standard and Poor's AA- and Frtch AA l-18
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS -
AIRPORT SUBORDINATED REVENUE BONDS SERIES 1994A September 30,1994 I 1
. Fiscal Year Ending Principal interest Total 1995 $ -
$ 268,000 $ 268,000 1996 - 262,000 262,000 1997 - 262,000 262.000 1998 - 262,000 262.000 1999 5,235,000 262.000 5.497,000 t Totals S 5,235,000 $ 1,316,000 $ 6,551,000 Bonds Dated: March 23,1994 ,
Originalissue Amount: $5,235,000 Principal Due: April 1,1999 Interest Due: April 1, beginning 1995 Paying Agent: Treasurer-Clerk of the City of Tallahaese Security; The 1988A Series Airport Bonds Security: The Series 1994 Bonds are payable solely from and secured by (1) a first and prior lien on the passenger facility charges, in the manner provided in the Resolution No. 94-R-0003 cnd supplemented by Resolution No. 88-R-0006, adopted by the City Commission. (ii) by a junior :
and subordinate lien upon and pledge of the net revenue derived from the operation of the airport system.
Optional Redemption Redemption Price April 1,1997 One Hundred and One Percent April 1,1997 One Hundred and One Percent October 1,2001 and thereafter One Hundred Percent Security: The Series 19918 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 19918 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, Bond Ratings: Moody's Aa, Standard and Poor's AA-I l 19
1
'I CITY OF TALLAHASSEE, FLORIDA DElWOGRAPHIC STATISTICS For the Years indicated Water (2)(3)
(1) Electric Consumed Gas Used (2)' Leon County Retail Estimated Airhne KWH Used (Gals) (Cu. Ft ) Housing School Sales Year Population Passengers (000's) (Mdlions) (Mdlions) Units Enrollment (000's) 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,a513.50 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 j 1989 122,333 434,859 1,756,912 6,635.10 1,311,770 53,749 26,404 1,237,572 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 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 1,750,343 1994 133,731 435.214 2,155,772 7,745.55 1,609,658 59,595 30,493 N/A l
[ _
Source: City Records da (1) U. S. Census Bureau and Tallahassee-Leon County Planning Department j (2) Sales, Marketing and Management, calendar year figures l
(3) Leon County Statistics N/A - Not Available Year Number of Labor Force Number of Employed Number of Unemployed Unemg..oyment Rate f 1985 47,484 45,068 2,416 5.1 percent 1986 53,856 51,442 2,414 4.5 percent 1987 56,938 54,524 2,414 4 2 percent 1988 58,342 56.117 2.225 3.8 percent 1989 60,640 57,636 3,004 5.0 percent 1990 62.837 59,817 3.020 4.8 percent 1991 65,378 62,271 3.087 4.7 percent 1992 67,363 63,736 3,627 5.4 percent 1993 81,400 77,581 3,819 4.7 percent 1994 76,617 72,608 4,010 5.2 percent Source: Florida Department of Labor and Employment Security
. _ . . .. _.-._ _ . _ . . . _ . . _ ~ _ - . . _ , _ _ _ _ . _ , , _ . . . _ . - ._ _ . . . . . . . _ _ _ _ _ . , , . . , _ . , . . - , , - . . . .
CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF INSURANCE IN FORCE September 30,1994 Estimated Policy Annual Type of Coverace and Insurance Company Policy Number Expiration Details of Coverage Limits Premium LIABILITY:
Self-insured.. . N/A
. N/A Excess Auto / General Liability $3.000,000 Funded Trust American Eagle /Lloyds AFE-0027246/AIE2727802 9/30/95 Airport Liability $100,000,000 $40,000 Self-insured.. . N/A N/A Pnmary Auto / General Liabihty $100,000/200,000 Funded Reserves Self-insured.. . N/A N/A Police Professional $100,000/200,000 Funded Reserves FIRE AND EXTENDED COVERAGE:
Hartford Steam Boiler.. .9429984 9/30/95 Boiler and Machinery $150,000,000 $285,000 Royal Surplus /Various.. . Various 9/30/95 Utilrty Property $150,000,000 $775,000
_ Fireman's Fund.. 94-284C 9/30/95 General Govemment Property Comprehensive All-Risk $142,000 b
. HEALTHCARE:
Self-insured.. . N/A N/A Employee Health Insurance $150,000 Fund Reserves Standard Insurance Company.. LF S8054801 12/31/94 Specific Stop-Loss $1,000,000 $26,000 ACCIDENTAL DEATH:
Home insurance.. . GTA-10349 9/30/95 Statutory and Accidental Death (Firemen and Policemen) $50,000 or $75,000 $32,000 WORKERS' COMPENSATION:
National Union Fire.. .54361 9/30/95 Excess Workers' Compensation Statutory excess of $95,000
$500,000 SIR per incident Self insured.. . N/A N/A Primary Workers' Compensation $500,000 Funded Reserves PUBLIC OFFICIALS BOND:
Fidelity & Deposit... 30471075 9/30/95 Emp;oyee Bonds $1,000,000/5100,000 $4,000
L i
CITY OF TALLAHASSEE, FLORIDA i PRINCIPAL TAXPAYERS !
September 30,1994
[
t f
i Assessed Valuation Percentage I r
Tangible of Total t Real Personal Assessed l Taxpayer Property Property Total Vatuation f
Central Telephone.. $ 7,993.000 $ 112,023,000 $ 120,016,000 1.4
- Talquin Electric.. 1,567,000 48,482,000 50,049,000 0.6 i t
Governor's Square Mall . 46,871,000 - 46,871,000 0.5 I Tallahassee Mall 33.047,000 - 33,047,000 0.4 ,
i Koger Propertes , 20,926,000 - 20,926,000 0.3 i
Tallahassee Medical Center.. 9.554,000 7,547,000 17,101,000 0.2 Northwood Center.. 14,983,000 - 14,983,000 0.2 Comcast Cable , 616,000 13,494,000 14,110,000 0.2 General Dynamics . -
11.613.000 11.613.000 0.1 i
Total 5 135.557.000 $ 193.159.000 $ 328.716.000 39 i
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Source. Leon County Property Appraiser I i
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CITY OF TALLAHASSEE, FLORIDA CONSTRUCTION, BANK DEPOSITS AND PROPERTY VALUES Last Ten Fiscal Years Commercial Residential 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 Agicultural Non-taxable 1985 124 3 33.821,000 938 5 35.480,000 $ 863,354.000 $ 509.709.000 $ 782,547,000 $ 2,493,995,000 $317,633,000 $1,066,998.000 1986 142 42,275,000 840 33,156.000 957,867,000 514,802,000 866,705,000 2,623,318,000 335,645,000 1,064,955,000 1987 139 39.044.000 1,203 46,671,000 975,909,000 496,238,000 955,930.000 2.731,296,700 344,889.000 2,396,377,000 1988 157 63.206,000 1,808 61,681,000 1,170,709.000 465.877,000 1.031,764.000 2.884,667,000 346.221,000 2,394,408.000 1989 151 49,578.000 2,250 86.375,000 1,331,064.000 451.102.000 1,132,534,000 3,116,990,000 388.807,000 2.428,351,000 T3 w
1990 89 49,498,000 1.071 68,716,000 1.279,945,000 460,247,000 1,198,182,000 3,388,255,000 401,026,000 2,462,395.000 j 1991 38 16.907.000 727 41,433.000 1,305.279.000 481,108,000 1,216,844,000 3,719,398,000 404,344,000 2,425,545,000 1992 40 27,868.000 1.247 73,476,000 1,533,476.000 278.667,000 1,227,753,000 3,902,820,000 424,784,000 2,439,166.000 1993 30 14,896,000 1,278 86.070,000 1,607,316,000 260,059.000 1,261,947,000 4,312,987,000 414,791,000 2,491,456,000 1994 66 35,342,000 1,301 101.033,000 1,800,538,000 35,589.000 1,339,155,000 4.561,408.000 409,493,000 3,401.939.000 (1) Source: Tallahassee-Leon County Planning Department (2) Source: Florida League of Financial Institutions; includes deposits for entire Leon County, amount for 1994 based upon June 30.
(3) Source: Leon County Property Appraiser for entire Leon County
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CITY OF TALLAHASSEE, FLORIDA MISCELLANEOUS STATISTICAL DATA September 30,1994 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 Govemment: 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 UTILITIES and SERVICES Electric System: Water System:
Generating Plants.. 3 Miles of Water Mains . . 749 Generating Capacity (KW).. . 490,000 Daily Average Consumption (MGD).. 21.22 Net System Energy Generated (KWH) . . 1,430,452,844 Plant Capacity (MGD) .. .. 71.5 Average Number Residential Customers.. 69,504 Number of Service Connections . .. 58,390 Average Residential Monthly Bill . .. $77.89 Deep Wells . . . 29 k 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.. . 563.24 Miles of Distribution Lines.. . 1,825 Number of Lift Stations . 79 Gas System: Daily Average Treatment (MGD) . . 18.83 Miles of Gas Lines.. 463 Maximum Capacity of Treatment Plants (MGD).. 32.06 Daily Average Consumption (MCF).. 4.410 Number of Disposal Plants.. .. 2 Plant Capacity (MCF).. 4,000 Number of Service Connections. 48,494 Number of Service Connections.. .. 12,694 Parks and Recreation:
Police Protection: Community Centers and Special!ty Centers.. 9 Number of Employees.. . . . 450 Summer Playgrounds and Camps.. 13 Number of Vehicular Patrol Units. . 262 Athletic Fields .. . . 138 t
Number of Law Violations: Golf Courses.. . 2 Physical Arrests. N/A Swimming Pools.. . 6 Traffic Violations. . . . - . . N/A Park land Acreage.. . . . . . . 1,825
- Parking Violations . . ., 65,528 Fitness Trails. 7
- Tennis / Racquetball Courts. . .. .. 71 Gymnasiums, Center Sites.. .
. . . 5
, Gymnasiums, School Sites.. . . .. 12 t
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CITY OF TALLAHASSEE, FLORIDA MfSCELLANEOUS STATISTICAL DATA (Continued)
Community _Eaci!! ties
! Transportation: Education:
Airline, Bus Line, and Rail Services Number of Public Schools . . . _ . 35 Number of Public SchoolInstructors .. 1,918 Communications: Number of Public School Students (PK-12).. _.... 30,493 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 . -. 2,587 Conference Center, Civic Center, and Theaters Number of College-level Students., .. 49,377 Seating Capacity. .~. . 23,142 Museums . . . _ . . .. .. 3 Major Annual Events:
Major Libraries - 8 Springtime Tallahassee Festival Skating Rinks.. 2 Fourth of July " Celebrate America" r Golf Courses-. .. .. 7 North Florida Fair M Hospital Beds.. . 951 Market Days Winter Festiva!
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