ML20148L477
| ML20148L477 | |
| Person / Time | |
|---|---|
| Site: | Crystal River  |
| Issue date: | 09/30/1987 |
| From: | TALLAHASSEE, FL |
| To: | |
| Shared Package | |
| ML20148L460 | List: |
| References | |
| NUDOCS 8804010287 | |
| Download: ML20148L477 (172) | |
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City of Tallahassee, Florida l
COMPREHENSIVE ANNUAL FINANCIAL REPORT d'AN ild d b C Y O: ~~A_ A ASSEE For T1e Fiscal Year Enced Septem3er 30,1987
' Florida's Capital City"--Serving all Florida j!S* A80!$ SSSh!S2
1 COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE CITY OF TALLAHASSEE, FLORIDA FOR THE Fiscal Year Ended September 30,1987
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CITY OF TALLAHASSEE PREPARED BY THE Department of Finance
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CITY OF TALLAHASSEE, FLORIDA COMMISSION-MANAGER FORM OF GOVERNMENT CITY COMMISSION BETTY G. HARLEY, Mayor FRANK VISCONTI, Mayor Pro Tem DOROTHY INMAN, Commissioner JACK L. McLEAN, JR., Commissioner STEVE MEISBURG, Commissioner CITY MANAGER CITY ATTORNEY Daniel A. Kleman James R. English CITY TREASURER-CLERK CITY AUDITOR Robert B. Inzer Steven Bordelon, CPA DIRECTOR OF FINANCE CONTROL LER Philip F. Inglese, CPA Johnny F. Session, CPA
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i INTRODUCTORY SECTION I
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i CITY OF TALLAHASSEE, FLORIDA ColegtDetSIVE AleIUAL FiNANC1 AL REPORT
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FISCAL YEAR EM)ED SEPTDeER 30, 1987 l
TABLE OF CONTENTS Page I
I. ' INTRODLCTORY SECTION A-1 Table of Contents A-5 Letter of Transmittal A-19 Government Finance Of ficers Association Certlficate of Excellence A-20 City of Tallahassee Organization Chart
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A-21 Listing of City of Tallahassee Of fletals 11 FINANCIAL SECTION 0-1 Auditors' Report - Op!nlon of Independent Certifled Public Accountants GENERAL PURPOSE FINANCIAL STATEMENTS (COMBINED STATEMENTS - OVERVIEW):
f B-4 Combined Balance Sheet - All Fund Types and Account Groups f
B-8 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances -
All Governmental Fund Types and Expendable Trust Funds B-10 Comnined Statement of Revenues and Expenditures - Budget and Actual -
General Fund Type l
B-11 Combined Statment of Revenues, Expenses and Changes in Retained Earnings / Fund Balances -
l All Proprietary Fund Types and Similar Trust Funds 8-12 Combined Statment of Changes in Financial Position - All Proprietary Fund Types and
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Similar Trust Funds 8-13 Notes to Financial, Statments COMBINING A@ l@lVIOUAL FUW AW ACCOUNT GROUP -
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l STATEMENTS AND SCHEDULES:
GOVERNMENTAL FUNDS GENERAL FUND:
C-1 Bslance Sheet C-2 Schedule of Revenue l
C-S Schedule of Empenditures l
C-12 Schedule of Operating Transf ers SPEClAL REVENUE FUNOS:
J C-13 Combining Balance Sheet C-14 Combining Statment of Revenues, Expenditures and Cher.ges in Fund Balances DEST SERVICE FUND:
C-15 Balance Sheet C-15 Statment of Revenues, Expenditures and Changes in Fund Balance t
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CITY OF TALLAHASSEE, FLORIDA TABLE OF CONTENTS (Continued)
P_ age _
CAPITAL PROJECTS FUN 05:
C-17 Combining Balance Sheet C-18 Combining Statement of Revenues Expenditures and Changes in Fund Balances ENTERPRISE FUNDS I
0-2 Combining Balance Sheet 0-4 Combining Statement of Revenues, Expenses and Changes in Retained Earnings 0-6 Conbining Statement of Changes in Financial Posltion ELECTRIC FUNO:
e 0-8 Estance Sheet 0-10 Statement of Revenues, Expenses and Changes in Retained Earnings 0-11 Statoment of Changes in Financial Position 0-12 Schedule of Operating Expense 0-13 Regulatory Schedule of Operettnq Expense s
CAS FUND:
0-14 Eslance Sheet 0-15 Statement of Revenues. Expenses, and Changes In Retained Earnings 0-16 Statement of Changes in Financial Position 0-17 Schedule of Operating Expense
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0-17 Regulatory Schedule of Operating Expense l
i SEWER FUND:
0-18 Balance Sheet t
0-20 Statement of Revenues, Expenses and Changes in Retained Earnings 0-21 Stat ment of Changes In Financial Position 0-22 Schedule of Operating Expense 0-23 Regulatory Schedule of Operating Expense WATER FUNO:
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0-24 Balance Sheet 1
0-26 Statement of Revenues, Expenses and Changes in Retained Earnings j
0-27 Statement of Changes in Financial Position 0-28 Schedule of Orerating Expense 0-28 Regulatory Schedule of Operating Expense i
AIRPORT FUND:
O-29 Balance Sheet i
I 0-30 Statenant of Revenues, Expenses and Changes in Retained Earnings
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0-31 Statement of Changes in Financial Position I
0-32 Schedule of Operating Expense i
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TALLAHASSEE TRAN$li FUNO:
D-33 Balance Sheet d
0-34 Statment of Revenues, Expenses and Changes in Retained Earnings 4
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CITY OF TALLAHASSEE, FLORIDA TABLE OF (XMTDITS (Continued)
Pag e D-35 Statement of Changes in Financial Position D-16 Schedule of Operating Expense INTERNAL SERvlCE FUNDS E-2 Combining Balance Sheet E-3 Ccabining Statement of Revenues, Expenses, and Changes in Retained Earnings E-4 Combining Statement of Changes in Financial Position TRUST AND AGENCY FUNOS TRUST FUNOS:
F-2 Combining Balance Sheet PENSION TRUST AND PONEXPENDABLE TRUST FUNOS:
F-4 Combining Statement of Revenues, Expenses and Changes in Fund Bslance F-5 Combining Statement of Changes in Financial Position EXPENDAALE TRUST FUNOS:
F-6 Combining Stateent of Revenues, Expenditures and Changes In Fund Balance AGENCY FUNO:
F-7 Deterred Compensation Fund - Statement of Changes in Assets and Liabilities GENERAL FIXE 0 ASSETS ACCOUNT GROUP G-1 Schedule of General Fixed Assets-By Sources G-2 Sche 3ule of General fixed Assets-By Function and Activity G-3 Schedule of Changes in General Flxed Assets by Function and Activity
, GENERAL LONG TERM DEBT ACCOUP4T GROUP H-1 Ste ment of General Long Term Debt 111 STATISTICAL SECTION 1-1 Coments on Statistical Section 1-2 General Government Expenditures by Function - Last Ten Fiscal Years l
1-2 General Revenues by Source - Last Ten Fiscal Years l-3 Property Tax Levies and Collections - Last Ten Fiscal Years 1-4 Assessed and Estimated Actual value of Taxable Property 1-5 Assessed valuarlons, Millage and Taxes Levled and Collected - Last Ten Fiscal Years l-6 Percerty Tax Rates - All Overlapping Governments - Last Ten Fiscal Years i
1-6 Special Assessment Collections - Last Ten Fiscal Years
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1-7 Computation of Direct and overlapping Debt 1-7 Computation of Legal Debt Margin 1-8 Schedul6 of Geaeral Revenue Bond Coverage - Last Ten Fiscal Years A-3
CITY OF TALLAHASSEE, FLORlDA TABLE OF CONTENTS (Continued) l M
l-9 Construction, Bank Deposits and Property Values - Last Ten Fiscal Years 1-10 Summary of Debt Service Requirements - Capital Ref unding Bonds, Series 1984 l-11 Suevaary of Debt Service Requirements - Senior Lien Electric Revenue Bonds - Series.1985-A l-12 Sumery of Debt Service Requirements - Junlor Llen Electric Ref unding Bonds - Series 1985 1-13 Sumary of Debt Service Requirements - Municipal Utility Revenue Bonds, Series 1970 3
1-14 Sunnary of Debt Service Regulromonts - Municipal Utility Revenue Bonds, Series 1970-A.
1-15 Sumary of 0*bt Service Requirements - Municipal Utility Revenue Bonds, Series.1979 l-16 Sumary of Debt Service Requirements - Municipal Utility Revenue (bnds, Series 1982
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I-17 Principal Taxpayers 1-18 Senedule of Insurance in Force 1-19 Miscellaneous Statistical Data 1-21 Demograpnic Statistics for the Years indicated L
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October 30, 1987 The Fbnorable Mayor and Members of the City Comission City of Tallahassee, Flor ida Ladies and Gentlemen:
The Comprehensive Annual Financial Report of the City of Tallahassee, Florida, for the fiscal year ended September 30, 1987, is submitted herewith pursuant to Florida Statutes, Chapter 11, Section 45, and Chapter 10.550 of the Rules of the Auditor General of the State of Florida. !he Comprehensive Annual Financial Report was complied by the staf f of the Finance Department, with close cooperation of the external auditors, and represents the of ficial report of the City financial operations and condition to the citizens, City Comission, management personnel of the City, rating agencies, and other Interested persons. ResponsibliIty for both the accuracy of t r.a presented date, and the completeness and f airness of the presentation, including all disclosures, rests with the City. We believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designej to fairly set forth the financial position and results of operations of the City as measured by the financial activity of its various f unds; and that all disclosures necessary to enable the reader to gain the maximan understanding of the City 8s financial affairs have been i nc l ud ed.
The Reporting Entity The City of Tallahassee was incorporated in 1825 before Florida was admitted to the Union some twenty years later.
In 1919, Tallahassee was granted a new City Charter by the State Legislature authorlzing our present Comission-Manager form of goverrvnent.
The City provides the f ull range of municipal services. This includes public saf ety (police and fire), streets and sidewalks, garbage collection, recreation, public Improvernents, planning and l
zoning, general administrative services, four utilities (electric, gas, water, and sever), a mass transit bus system, and a municipal airport.
The f unds and entitles related to the City of Tallahassee included in our Comprehensive Annual i
Financi al Report are controlled by or dependent on the City. Determination of "controlled by or dependent on" is based on criteria included in the National Council on Governmental Accounting Statement 3, en t i t l ed "De f i n i ng th e Gover nmen ta l Re port i ng En t i ty." The criteria deal with cmparability, comprehensiveness, responsibility, and control. Based on these criteria, the various f unds and account groups (being all the f unds and account groups of the City shown in the Table of Contents) are included in this report.
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Organ!2ation and Contents The financial statements of the City have been prepared in accordance with generally accepted accounting principles (GAAP) as applied to governmental. units. The Governmental Accounting Standards Board (GAS 8) is the standard-setting body for governmental accounting and financlel 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 l
(standards and interpretations), constitutes GAAP for governmental units.
Designed to meet the needs of a broad spectrum of financial statement readers, this Comprehensive Annual Financial Report is divided into three major sectionst 1
Introductory Section - As the title Indicates, this section Introduces the reader to the report and includes the table of contents, this transmittal letter, the Certificate of Achievement for Excellence in Financial Repceting awarded to the City by the GFOA, and the City organl28tlon Chart.
2 Financial Section - Five combinei financial statements, together with the notes to'the financial statements, compose the General Purpose Financial Statements (GPFS). The GPFS are the City's basic financial statements and provide an overview for users who require less detalled Information about the City's finances than is containej in the balance of this report. The remainder of the Financial Section presents combining statements, Individual f und statements, and schedules focusing on Individual f unds rather than f und types.
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Statistical Section - Although this section contains substantial financial Information, these tables dif f er f rom financial statements in that they present some non-accounting data, cover more than two fiscal years, and are designed to reflect social and economic data, financial trends, and the fiscal capaclty of the City.
1 The various fund types of the City have been classified into fund categories as follows:
Fund Category Fund Type Governmental General Special Revenue -
Capital Projects Debt Servlee Propr i et ary Enter pe lse Internal Service Fi duc i a ry Pension Trust 3
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Monexpendable Trust j
Expendable Trust Agency a
The measurement focus f or each of the above f und categories is explained below, i
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L Governmental Funds: Diese f unds are used to account for the City's expendable financial.
resources and related current f labilltles, except those accounted for in prope tetary f unds.
Governmental funds are essentially eccounting segregations for financial resources, and measurement focus is upon determination of financial position (sources, uses and balances of resources) rather than upon not income determination. Basic financial statements necessary to fairly present financial position and operating results for these f unds are the balance Sheet, and the Statement of Revenues, Expenditures and Changes in Fund Balance.
Propetetary Funds: These funds are used to account for the City's ongoing activities which are stellar to those found in the private sector, and financial activity is reported in essentially the same manner as in commercial accounting where not income and capital malntenance are mea sur ed. Measurement focus is upon deternination of not income, financial position, and changes in financial position. The basic financial statements required f or these f unds are the Balance Sheet; the Statement of Revenues, Expenses, and Changes In Retained Earnings; and the Statement of Changes in Financial Position.
Fiduciary F;nds: These funds are used to account for assets held by the City in a trustee or agent capacity. Each trust f und Is classified for accounting measurement purposes as either a governmenta l fund or a proprietary fund.
Expendable trust funds are accounted for in essentially the same manner as governmental funds; pension trust funds and nonexpendable trust funds are accounted for in essentially the same manner as proprietary f unds. Agency funds are custodla t in nature (assets equal liabilities) and do not involve measurement of results of operations, in addition to the various fund types, a fourth category of accounting entitles, account groups, is used to establish accounting control and accountability f or the City's general f ixed assets
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I and general long-term liabilities. The City's general fixed assets (all fixed assets except those accounted for in proprietary or trust f unds) are not financial resources available for expenditure. The unmatured principal of the City's general long-term debt (long-term fl?htlitles not accounted for in propelotary f unds) and the non-current portion of accrued vacation and 3..k leave for governmental fund employees do not require the use of financial resources during the current accounting period. Accordi ngl y, these are not accounted for in the governmental f unds, but in self-balancing account groups.
Accounting Systen and Budgetary Control The City's accounting records for general governmental operations are maintained on a modified accrual basis, with the revenues being recorded when available and ' measurable, and expenditures j
being recorded when the services or goods are received and the liabilities are incurred.
Accounting records f or the City's utilitles and other enterprises are maintained on the accruel basis. Budgetary control is maintained at the department level. Purchase orders which would result in an overrun of balances are not released until additional appropelations are made l
available. Open encwnbrances are reported as reservations of fund balance at September 30, 1987 In developing and altering the City's accounting system, consideration is given to the adequacy i
of Internal accounting controls. Internal accounting controls are designed to provide reason-able, but not absolute, assurance regarding the saf eguarding of assets against loss f or un-authortred 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 A-7
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the evaluation of costs and benefits requires estimates and judgements by management.
All Internal control evaluations occur within the above f ramescrk. We believe the City's Internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions.
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- The City's Auditing Department revlees and appraises 'ne i.-rdness, adequacy, and application of l
t accounting, financial, and administrative controls in the City's accounting system. Financlal i
transactions and related data are examined for accuracy, completeness, and authorization. Data processing applications and systems are addressed by the Internal auditors at appropriate times j
to assess the adequacy and accuracy of controls. Also, computerized applications are revle ed to determine that they have been developed according to the policles, procedures, standards, and' a
guidelines of the City.
General Governmental Functions The General Fund encompasses the generat governmental functions of the City not required to be accounted for in other f unds. The following summary shows actual revenue to support these f unctions for the current fiscal year and the change from the pelor fiscal year:
increase Percent (Decrease)
Financing Sources Amount of Tota l From 1996 Taxes
$14,380,100 24.3 5 936,400 4
Licenses & Permits 997,400 1.7 (105,100)
Intergovernmental Revenues 7,710,200 13.0 209,200 Charges for Services 8,809,400 14.9 2,199,300 Fines & Forfelts 751,900
- 1. 5 160,300 Mi scel laneous 1,124,800 1.9 (248,600)
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$ UB-TO T A L 33,773,800 57.1 3,151,500 Transf ers in 25,399,700 42.9 (3,191,830)
TOTAL
$59,173,500 100.0 5
(40,300) l l
The City's principal sources of local tax revenues are property taxes, public service taxes, and the local option gas tax.
In fiscal years 1987 and 1986, the City's property tax, all of which l
Is for operating purposes, was 2.488 mills. The related property values subject to taxes showed growths of 7.4 percent, representing $157.4 million in added taxable property. This increase continues +he trend of growth as a result of increased property values in existing properties, and new construction. Taxable assessed values have more than doubled over the last fiva years.
Collection of property taxes increased by 5359,300 over 1986 to $5,500,000 i
Pu ;c service taxes are levied at the rate of 8.5 percent on telephone, electric, water, and natural and bottled gas services within the City, in 1987, total revenue f rom this tax reflected an increase of $407,400, eaulvalent to 6.8 percent over 1986 This growth is attributed to i.
increased utility sales.
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The local option gas tax is the renalning major source of local tax revenues. Por Florida Statutes, Chapter 336, a county may impose a one to six cents local option gas tax upon overy gal f on of motor fuel and special fuel sold within the county. In June,1985, Leon County and the City entered into en Interlocal agreement whereby a levy of f our cents was approved and is to be sollt on an etual 50-50 percentage basis. The tax is due to expire Septenber 30,1996 :.nless the voters, by referendum, approve an extension. The tax can only be used for transportation i
p ur poses. During 1987, the City collected $1,801,600 Intergovernmental revenue consists primarily of shared revenue f rom other governmental agencies.
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City revenue generated from these sources has leveled of f during the past year, reflecting a 2.8 percent increase.
Charges for services showed an overall increase of $2,199,300, or 33.27 percent. The increase la primarily attributable to Solid Waste revenue. Upon the expiration of the franchise agreement between waste Management, Inc. and Leon County, the City assumed responsibility for all residential and coavnercial customers Inside the City limits. Customers increased by 12,500 to 34,300 for residential, and by 500 to 3000 f or commercial.
4 Fines and forfelts increased $160,300, or 27.1 percent. The increase was primarily attelbutable to an increase in the enforcement of traffic and parking violations.
The following suiviary shows the level of f unds used in providing governmental servicest increase Percent (Decrease)
Financing Use Amount of Total From 1986 Expendi tures :
General Government 1 6,660,900 11.2
$ 495,900-
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Publ ic Ss f ety 18,113,100 30.5 1,766,300
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Transportation 7,053,700 11.9 1,055,500 Human Services 989,100 f.7 75,000 Econcreic Environment 264,700 4
8,000 y
Physical Environment 7,516,<00 12.6 1,938,500 Culture & Recreation 4,719,900
- 7. 9 149,100 i
sus. TOTAL 45,318,100 76.2 5,488,300 Transfers Out 14,151,600 23.8 (3,682,2001 TOTAL USES 159,469,700 100.0 51,806,100 The increase in expenditures for governmental services is primarily attributable to costs associated with public safety, transportation, and physical environment.
i Pubile saf ety expenditures increased $1.766,300, or 10.8 percent, due primarily to a personnel increase in the Police Department. Transportation expenditures increased 11.055,500, or 17.6 p erc en t, o f.nich approximately $500,000 was due to full Implenentation of the City's stor<nwater management pecqr am.
R ysical environment expenditures increased 11,938,500, or 34.8 percent, due
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to the costs associated with asselng the responsibility for residential and co=mercial sanita=
tion in the annexed areas of the City, as previously discussed.
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The precedir3 schedules of Financing Sources and Uses reflect significant Transfers in and Out.
1,., s,., s,n,r i m.,1, y,e pres.,,.vce ss.,, e,,e l se,.nd,ev.n u..
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1,a,,, -s.d f o, general governmental purposes. Transfers Out are primarily used fo.' debt service, underwriting.
j the operations of certain f unds, and capital projects. The General Fund acts as e clearing f udd and accordingly utilizes these funds or transfers them to other funds for their respective l
purposes. The City Commission adopted a financing policy that e1 dressed the transfer of sonlos f rom the enterprise funds to the Oeneral Fund. The amount transferred is limited to the policy' established for each enterprise f und.
The 13,191,800 decrease in Transf ers in is oue to the General Fund, in 1986, receiving money frca the Deficiencies and Emergency Fund to cover the 2
costs associated with Hurricane Kate evponditures, included in the Transfers Out is 58,252,000 to Internally fund capital projects, which otherwise would have to be bonded. This internal f undlm is in accordance with the City Comission approved Debt t4sngement Polley. The 13,682,200 decrease in Transfers Out is primarily due to a 12,800,000 reduction in the transfer 1
- o the Capital improvement Fund.
in 1997, General Fund sources were 5296,200 less than the General Fund uses which reflects expenditures covered by pelor year reserve for encumbrances. At September 30, 1987, the General Fund fund balance consists of 14,452,300, with 11,215,500 reserved and 53.236.800 unr eserv ed.
Special Revenue Funds 4
Special revenue f unds account for revenue f rcyn er selal revenue sources which are legally restricted for specific purposes. The ecnbined fund balances of these funds enount to 1855,200, l
and the following represents an analysis of sources and uses in the special revenue f unds for 1987:
Sept. 30, i
1997 Cha N o in Fund Fund Sources Uses Fund Balances Rslances Special Projects Fund 12,257,700 12,140,400 1117,300 1607,100 4
Stormester Management Funn 1,024,500 1,024,500 i
Lee Enforcenont Forfeiture Fund 39,300 43,000 (3,700) 48,100 TOTAL 13,321,500 13,207,900 1813,600 1855,200 1
1 The Special Projects Fund is used to account for Federal, State, local and other revenues that i
are to be used for specific general governmental purposes. The major revenue source In this f unJ
.as the Federally f unded Comunity Development Block Grant program which provided 11,868,800 to l
the City during 1987 The Storm ater Kinagment Fund oss established to account for feet restricted for storm ater l
opersting and capitst costs. The ordinance establishing the fee became ef f ective October I, 1986 and the total revenues collected for fiscal ye ar 1987 were 11,024,500 l
j Th e L s En f orc emen t for telture Fund was established to account for forf eitures as prescribel by i
Chapter 932 of tne Florida Statutes. Appropelations from this fund can be ude only for Iss 1
onforcement purposes.
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Debt Administration The City's outstanding debt is classified and rooorted according to the type of resource pledged to satisfy the Individual debt series, i
General long-term debt consists of bonds supported by general revenues that are obilgations of the City as a whole and not of its ind ividual f unds. The City has no general obilgation deot (debt secured by ad vslorem taxes) outstanding. At September 30, 1987, the City has outstanding
$20,605,000 of Capital Refunding Bonds with $6,825,600 available for debt service.
Enterpelse debt encompasses electric, gas, water and sewer long-term debt and is comprised of obligations Incurred in the course of financing extensions and improvements to these systems that are financed solely frcn their revenues. At September 30, 1987, the City has outstanding
$110,593,500 of Electric Revenue Bonds with $14,804,500 available for debt service, and
$23,44 5,000 of bonds secured by gas, water, and sewer systens with 12,594,400 available for debt service.
Rattnqs for the City's bonds are assigned by Independent nationally recognized agencies. Th ese ratings have a significant influence in establishing the rate of Interest expense the City riust pay when bonds are sold. Such "credit" ratings for the City of Tallahassee's debt have been consistently judged to be of good investment quality. Current ratings by the two major ratings aoencies are shown below for each serles of long-term bonded debt Standard j
_ Bonds
% dy's
& Poor's Capital Refunding Bonds Al AAA Electric Junior Llen Refunding Revenue Bonds Al A4-Electric Senior Lien Revenue Bonds Aa AA Municip91 utility Revenue Bonds Al A+
a All reserve require *nts mandated by bond covenants are f ully f unded at the prescribe $ levels.
j in %vember, 1985, the City entered into an Interlocal agreement alth the City of Orlando, Floelds which crested the Sunshine State Governmental Financing Comission. The purpose of the Commission is to enable a limited number of frequent high credit quellty Florida governmental units to benefit from the economles of scsle associated with large scale financings and to choose from a verlety of f unding options. The creation of this Commission has opene$ up a new source of f unds for the City other than the traditional market.
a On July 18, 1986, the Sunshine State Goverrwental Financlig Commission sold $300,000,000 of j
verlable rate bonds maturing July 1, 2016 On %vember 18, 1986, the City borrowed 119,200,000 f rom the Financing Comission; the proceeds are to be used for financing issuance costs on the loan (1200,000), retiring the Special Assessment note, and to finance the construction of certain sater and sewer projects (57,400,000 and 18,600,000, respectively). The City is liable solely l
for payment of principal and Interest on its loan. The rate of Interest on the loan will vary based upon aerket Interest rates for short term tax exempt financing. The rate of Interest at i
Sept ender 30,1987 ses 5.37 percent; the average rate af Interest for fiscal year 1987 was 5.22 1
perc.nt.
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Capital Projects Funds i
Proceeds of general revenue bond Issues and Internal general government type fundings are f
I primarily accounted for in Capital Projects funds until the leprovement projects are completed.
At the end of the fiscal year, completed projects are capitallred in the General Flied Assets Account Group. During 1987, a not enount of 11,606,200 of such assets das added to General Flued Assets primarily representing such expenditures.
Enterpelse Funds Enterpelse funds are those that are financed and operated in a manner similar to a pelvete y
business enterprise where the intent of the governing body is that the cost of providing goods and services on a continuing best s be financed through user charg$s or where the governmental body has decided that periodic detereinstion of revenues earned, esponses Incurred, and/or not Income is appropelate for capital maintenance, budget polley, manojeeent control, accountability, or other purposes. The City accounts for its Electric, Gas, water Sener, Airport, and Transit Funds as enterprise operations. These funds are primarily supported by user charges. %et income as used in these funds 15 a defined accounting term; It is di f f erent f rom budgetary Income in that deprocletion and transfers have been deducted but not bond principal payments, contributions to required reserve accounts, or capital outlay.
Comparative data for the last two tiscal years for the Electric Fund are presented below 1987 1986
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Operating Revenues
$114,703,200 1106,415,300 Not income (auctuding gain on advance rotundingl 13,806,000 19,032,800 Amount Available for Debt Service 52,312,500 52,519,300 Mavimum Debt Service 14,804,500 14,804,500 Debt Coverage h>r Outstanding Bonds 3.55 3.54
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Although Electric Fund operating revenues increased by 18.3 million ove: 1986, due to an increase in conswmption of 137,298 megawatts (9.7 percent) and an increase in esstomers of 2,569 (4.0 percentl, not Income decreased by 15,826.600 This decrease la primar t i; attributable to interest earnings being down $2.4 million and an increase in transfers out of 12.2 million.
The City of Tallahassee pointains separate f unds for its gas, mater, and sever operations.
However, the outstanding bonds are principally %anicipal utility Revenue Bonds. Secured by the ievenues of the combined operations of these f unds; this combined operation is ref erred to as the i
Municipal Utility System. Therefore, it is reasonable to show certain combined data for the last t wo f i scal years as presented below 198?
1986 Operating Revenues
$28,365,600 126,420,200 Net Incnee After Transfers 4.703,800 3,775,100 Amount Available for Debt Service 6,976,900 8,219,900 Maximum Deb + Service 2,$94,500 2,594,500 Debt Coverage for Outstanding Ronds 3.46 3.16 i
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Not income in the Gas Fund decreased from 5632,700 in 1986 to $389,300 In 1987, or 1243,400, due primarily to a decrease in Interest earnings of 1300,300 Gas consumption increased 7.8 percent over fiscal year 1986, which was within 1 percent of the consumption projections.
Average customers increased 206 to 7,809 customers.
Not income In the Water Fund increased from $2,061,800 in 1986 to $2,269,300 In 1987, or
$207,800; operating income increased by 5559,900 This can be attributed to the 6.58 percent rate Increase and a 1.6 percent increase in customers from 46,512 to 47,257 Consumption decreased 952.1 million gallons or 11.9 percent, but was on target based on projections mede in the Water Rate Study.
Net incone in the Sever Fund decreased from $3,080,600 In 1986 to $2,164,900 in 1987 or 5915,700 Operating incese Incrossed 1156,000 due to the 2.6 percent rate increase and a 3.5 percent increase in customers from 36,555 to 37,841 Although consumption of water determines the sewer billing, there is a marlwn based on consumption during the normally non-spelnkling months.
Thus, the lower water consanption had no major ef f ect on the sewer revenue generation.
Not income in the Aleport Fund increased f rorn $249,000 in 1986 to a not income of $806,500 in 1987 This increase is attributable to an increase in Interest earnings and increased activity at the airport; emplanoments increased 59,144 over 1986 to 413.242, which translated to a
$238,400 increase in concession revenue.
The Tallahassee Transit Fund accounts for the City-owned bus systen. The capital assets of the systo,n were primarily f unded through Federal grants frcrn the Urban Mass Transportation Admin-Istretion (UMTA). additionally, each year the operating loss, exclusive of depreclation and capital purchases, has been partially f unded by a Section IX operating grant from LNTA.
The loss before Operating Transf ers increased from 51,585,600 in 1986 to 12,184,900 in 1987, or 1599,300 Internal Service Funds Internal service f unds are establishoj to account for the financing of goods and services pro-vided by one department or agency to other departments or agencies of the governmental unit on a cost-reimbursement basi s.
The City of Tallahassee accounted for its Reading, Billing, and Collection activltles, Deta Processing, Accounting, Central Stores, Purchasing, Gerage, Haan Resources, Pension Administration, and Risk Managenent activities as internal service f unds in 1987 The expenses associated with these f unds are billed to other City departments through allocation methodologies deemed reasonable for each activity.
Fiduclary Funds Fiduciary funds are establisned to account for assets held by the City in a trustee or egent capacity for individuals, private organizations, other governmental units, and/or other funds.
Pension Trust Funds - The City maintains separate retironent systens for three employee groups police of ficers, firefighters, and general employees. The three systems are administered by separate boards of trustees and the City is responsible for funding flabilities of the Individual plans based upon actuarial valuations. Employees within each systen participate in both a defined benefit plan and a defined contribution plan.
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Further 1etails concerning pension expense, vested benefits, and actuarlet asseptions are included in the notes to the financial statements. At September 30, 1987, the defined benefit plans had total assets of $122,792,200, and the defined contribution plans had total assets of 15.996,100 As Indicated in the accesnoanying notes to the financial statements, assets for retirement f unds are stated at cost. For purposes of determining the actuarlally regulred f unding for these f unds, the actuary utilizes market value. $1nce the close of the fiscal year, the stock market has been ex:tremely volatlle which has caused the market value of the pension f unds to decrease by
$17,142,500 f rom September 30, 1987 to October 30, 1997 The City's investment af visers have recommended that the City take a valt and-see attitude until the market stabilizes. The ultlaste of fect of the volatility of the market on the reaulred f unding of the retirement funds cannot be reasonably determined at the present time.
Enpendable Trust Funds - Expendable trust funds consist of the Stadlum Fund (used to fund Improvements, operations, and maintenance of the City's athletic stadium); the Cbentown improvement Authority Fund (used to account for nonles appropriated by the Cbuntown improvement Authority to regulate downtown growth); the Special Capital Projects Fund (usef to provide a means for financing long-term capital projects while minimizing the impact on the City's operating budget); and the Defielencies and Emergencies Fund (uses to provide for unforeseen esponditures of an energency nature). These funds have total assets of $23,783.100 at September 30, 1987 Nonespondable Trust Fund - During fiscal year 1986, the Cemetery Perpetual Care Trust Fund w1s established pursuant to Commission action. This f und =111 be used to provide for the perpetual maintenance of the Ci ty's ceneteries. This fund had total assets of 1551,200 at September 20, 1987 Ajency Fund - The City of fers its employees a def erred conpensation plan created in accordance with Internal Revenue Code, Section 457 The City has chosen to have this plan administered by
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the International City Henagenent Association Retironent Corporation. This f und had total assets of 12.574,000 at September 30, 1997
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General Flued Asset Account Group l
The general fixed assets of the Cl+y are those assets used in the performance of general govern-mental f unctions and esclude the f lue1 assets of the Enterprise and Internal Service Funds.
Goverrvnental accounting dictates that these assets be accounted for separately from the General Fund since they do not represent financial retources available for expenditure, in accordance with generally accepted accounting principles, the t;lty of Tallenassee does not record deprocle-tion in the General Flued Assets Group of Accounts. The City of Tallahassee has 154,788,900 of gener a l flued assets which were acquired from General Fund revenues, bonds, and gi f ts.
As allowe1 by generally accepted eccounting principles for local governments, roads. bridges, curbs and gutters, streets sns sidewalks, drainage systens, lighting systems, and similar assets that are Irvnovable and of value only to the governmental unit are not recorded as general flue 1
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assets.
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Cash %nagment Program The City's banking service agreement calls for the bank, on a daily basis, to invest all monies in the City's demand accounts in excess of 1650,000 in an overnight repurchase agreement at the Federal Funds rate. Earnings directly attributable to our banking services agreement for fiscal year 1987 are $267,500 The City Charter relative to investmeat of City funds provides for the adootton of an Investment policy. In connection olth the City Charter, the City Commission adopted an Investment policy which provides a side range of securities from which to choose, including U.S. Treasury Se c ur i-ties, bankers' acceptances, commercial paper, various government agencies and sponsored corporations, certi ficates of deposit, open and term repurchase sgreements, and corporate fixed I ncome s ecur i t i es.
These instruments provide great flexibility and diversity, ss well as a high return on Investments. The polley also establishes restrictions that require diversification of Investment types and issuers, liquidity and maturity provisions, and standards for rating security Issuers.
These policies enable the City's investment program to be in step eith other Innovative municipal investment operations and prov ides the mechani sm for keeping our pollcles current alth the over changing Investment en v i ronmen t.
Economic Prospects T%e economy of Tallahassee is strongly oriented toward governmental and aiucational activities.
The r ema i nd er o f t h e J emand for l abor is almost equally d ivided into those Industry groups that support urban populations and governmental affairs. Th e level of governmental emp l oyment has a stabill 2i ng ef f ect on the economy and helps to keep unemployment down.
Of the work force, 4.9 percent.ere un employed in 1987 Since 1984 the percentage of employees employed by government has leveled of f at approximately 43 percent of the work force.
Federal assistance is continuing to be less available as evidenced by the elimination of Federal Revenue Shari ng and the anticipated reduced operating assistance from udTA; at the same time, the City is attessting to re3uce its dependence on electric revenue for general governmental operations. The City continues to aggressively seen new revenues through a number of approaches j
s%Ile continuing to address the. Sole spectrum of economy in government.
i New State legislation allowed local governmental entitles to estabi t sh s t o rmea t er fees as a means of financing storm. ster operations and ! = pr ov emen t s. Th i s methodol ogy has been enployed in some cities in.es t er n s t a tes f or a n umb er of year s, but it is an innovative approach east of the Mississippi River.
Al t houg h many l oca l government entitles are considering this methodology In the State of Flo' ids, the City of Tallahassee is the first entity to establish t%Is fee.
The f ee eas initially established to cover tne operation and maintenance expense for stormeater man ag emen t facilities. A Comprehens i ve Stormaater Man agement Pl an i s be i ng Jo i nt l y f unded alth Leon County snd the results of t%ls study alli determine the future capital costs and f ees to be charged f or the management of stormester, the Ci ty has moved +o increase user fees in many areas that fall un d er the Ci ty's purvies. Th e economic pressure f rom reduced Federal contelbations and reduced rellance on utility revenue 4-15
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Support has led to en sagressive cost recovery approach for the general govarnmental activities, fees have risen to approach costs in nsny activities, including sulming pool, recreation, golf course, sani tatico, cemeter a, parking, planning, and rentals.
The City has also taken sten regarding its future energy needs and costs. in order to defer the cost of electric plant espinston, the City has secural a Purchasot Power Agreement alth the Southern Company that ensure t cost et tective delivery of energy to the City's citizens through the year 2000, and has instl*uted an a3gressive msrketing progree of the City's gas systern, in order to keep utility rates as los as possible, the City and Florida Gss Transmission Corapany r m' en t l y oi ecu t m3 ag r eemen t s wh i c h, subjo:t to the approval of the Federal Energy Regul atory Curval ts t on (F ERC), a l l i pr ov li's n ew and projected to be lower cost gst supply for both the City's electric systen and <pss systee, in aldition, to enable the City to take Alvsatage of potential spot market gas purchases, the City has recently completai negotlations eith South Georgia 45 t ur a l Ga s Cmpan y ( SGNG) regirding the availability at Interruptible transportation service over the SGNC gas pipeline.
D. I t agr eemen t i s a l so s u bj ec t to a p pr ov a l by t h e f f RC.
In the area of Economic Development, sn ejgressive ef fort by the City i s underway. $l g n i f ic an t ac h i ev emen t s In t h i s ar ea followl th e C i t y 's E c oncva l c De v e l op sen t Co.va l s s i on ( E OC ), a twel ve-member ad v i sor y boarJ appo i n ted by the Ci ty Corest ss ion in 1685, has oeen developing programs that util create jobs, expand the tan ba se, a nd d i v er s i t y the l oc a l ec onsvey. Th e E(IC 's as j or pr oj ec t is the development at the City's Industrial Park.
Duetry the past year, the City purchased 108 aeres of Ians and constructed a 54,400 satare foot % gnet" building deslaned to attract me. businessas to the arms, in Ap r i l, 1987, temas Hydraalles, Inc. announcei plans for the construction of a 22,000 square f oot ma nu f ac t ur i ng l ec il i t y at the industrial Park.
Teias Hydraulles alli create thirty nos jobs and asnuf acture hydraulic eylinders to serve the southesst atrkets, in Sept ember. 1987, Ceneral Dynamics select *J the City's industrial Park as the production site for state-of the-art redlo comunica'lon devices. Th i s pr oj ec t i s cont ingent on the award of a governnent contract in 194M. Should General Dynaetcs aim the contract, it alli create ov er 700 no. Jobs In tallahassee.
Ot her E[U ac t i v i t i es Include the development of msrketing and finanelal assistance progrees Jos i gnal to beln) nos businesses to the area, as well as helptm) local businesses to groe anJ prosper.
The City recently selected the sullivan Gr ou p, with internationally kno.n I w. Pol as ar c h i t ec t, to design a 300 rrwm hotel / convention compleu.Ith 16.000 square teet of meeting space, 200,000 square teet of ot tice space, a swiming pool, e health club, a restaur ant /-
lounge, a 2000 space parkim) gara ge and a 'iOO sont pec toreing arts conter.
The cost of the etunples, ev:ludinq 'he garaje, Is approelmately 177 million, the grouwdbreaking for the project i s sc h ed ul ed for %ep % ber, 19RS ulth completion by 1990 The impor tence of this ev en t is the potential for attracting a great number of business travelers to Tallahassee
.ho might other wise have traveled to other ci t les f or meet ings or conf erences, bl6
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Progress on construction of a new 123.5 million terminal at the Tallahassee Regional Airport is continuing at a rapid pace. The project, slated for completion in May, 1989, will bring j
the City a new "H-shaped" terminal complex with five jet gates and four ground-level commuter gates. The new terminal will be more than three times the size of the existing 6
terminal, and the jet gates will be equipped with loading bridges which will allow travelers
.to board planes through enclosed corridors rather than f rem outside. Financing for the project will be acceptished via Federal grants of approximately $3.8 million, and a State grant of $7.4 million, with the remainder to be financed through the issuance of Airpe t Systen Revenue Ebnds. Repayment of the bonds will be accmplished through lease payments, concession revenues, and other revenues at the Aleport, in Mdition to ef forts by the City to create new jobs, the recently formed State of Florida Department of the Lottery will provide approxImately 600 new jobs in the City.
The City's ajgressive economic development program has not gone unnotlCod. Tallahassee was recently identi tled by Inc. Magazine as the eig%teenth fastest growing city in the nation. Thi s ranking =ss based on three growth criterlas significant new start-up conpanlos as a percentage of the business census: percentage of start-ups experlencing high growth; and overall growth in enployment.
1 The State Legislature passed a sales tax on services during the past year. Wife this could have i
been potentlally beneficial to the City through an increase in State Shared Revenue, any benefit is estimated to be of f set by the new requirement of having to pay sales tar on certain components of the City's capital construction. The City is pursuing the elimination of tnis tax on its d
capital progrens.
Under the Florida Constitution, the State Legislature is the body responsible for determining the taving authority that units of local government may have.
As indicated earlier, the Legislature i
has passed some le21slation providing the means for raising the necessary dollars at the local level. Nuever, as more and acre of the problems of local government and State and Federal j
mandates have to be financed locally, the Legislature will have to continue to provide the means I
4 1
necessary to ralso the required revenues.
Independent Aud it The Florida Statutes and the City's Bond Resolutions regulre an annual sJdit of the books of
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j account and financial records of the City by Independent certitled pubtlc accountants selected by the City Connission. This requirement has been empiled with and the auditors' oplnlon has been Include 1 in this report.
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l Certificate of Ach i ev enen t The Government Finance Of ficers Association of the United States and Canada IGFOA) awarded a Certificate of Acil evement for Excellence in Financial Reporting to the Olty of Tallahissee, I
Florida for Its CompreSensive Annual Financial Report for the fiscal year ended September 30, 1986 l
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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 principles and appil-cable legal requirements.
A Certificate of Acnlevement is valid for a period of one year only. We beli eve our current report continues to conform to Certi ficate of Achievement Program requirements, and we are j
submitting it to the GF0A to determine its eligibility for another certificate, t
i Ac knowledgments i
i The preparation of this report on a ilmely basis could not be accomplished without the ef ficient
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9 and dedicated services of the entire staf f of the Finance Department, in particular the members of the Accounting Olvision 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.
Respectf ully submitted.
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.h Phi l l F. Inglese, c.P.A.
b Director of Finance A
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l oani.i A. <ieman City Manager 4
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Cer:1::1C a':e O:'
Acaievemen:
- Or.~,XCO.
. OnCe In.
Inancia.
3e'3Or:ing Presented to City of Tallahassee, Florida For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30, 1986 A Certificate of Achievement for Excellence in Financial Reportmg is presented by the Government Finance Officers Association of the United States and Canada to governmental un;ts and pubhc employee ret:rement j
systems whose comprehensive annual financial reports (CAFR's) are judged to substantially conform to program standards.
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,3" President p
WYEtt
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Exec e Director 4.i9 l
cnYOFTALLAMAGE FLORICA c
ORGANIZATION CHART l
l The lippin of Tallahassee City Consiission City Treasurer City City Attorney Clerk Manager Auditor Deputy City Deputy City Manager Comm.
Manager Admin.
Se rvices Services
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Director-Director-Water Management Employee Electric and Budget Relations Finance Sewer Director-Director-Director-Directo;-
Public Consuunity Fire Chief Affirmative Works taprovement Action Planning 1
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Director-Director-Police Director-Director-Parks and Chief Ceneral Da.ta > !
,g Recreation Services Services l
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Director-Director-l U
ity s.20
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CITY OF TALLAHASSEE. FLORIDA LISTING OF CITY OFFICIALS ELECTED OFFICIALS
. Betty G.
Harley Mayor-Commissioner.
i Mayor Pro Ten Commissioner.
. Frank Visconti Commissioner.
Dorothy Innan Commissioner.
. Steve Melsburg Commissioner.
Jack L.
4 Lean.
Jr.
4 APPOINTED OFFICIALS City Manager.
. Daniel A.
Eleman
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City Treasurer-Clerk.
Robert 8 Inter City Audhtor.
Steven Bordelon City Attorney
. James R.
English DEPUTY CITY MANAGERS Administrative Services
. Charles F.
Cuthbertson Community Services Jerry L.
Maxwell DEPARTMENT DIRECTORS 1
Affirmative Action
.Sharon Ofuani Jerry L.
Sealy Avlation
.g Community leprovement.
. George R.
Manning I
Data Services.
. Fred Joiner Electric
. Benjamin Walt. til Employee Relationc Gloria D.
Hall l,
Finance.
. Philip F.
Inglese Fire
.Edwin C.
Ragans Gas Utility.
. Samuel Davis.
Jr.
j General Services
.Kenneth M.
Austin Management and Budget.
Donald A.
Corley Parks and Recreation
. Randy Troundell Planning
.E4 ward R.
Mack.
Jr.
PoIice Me1 yin L.
Tucker Public Works
.Rhett A.
Miller TalTran (Tallahassee Transit).
John L.
Carter Water and Sever.
. James H.
Peters A-21 i
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r FINANCIAL SECTION This section contains the following subsections:
Auditors' Report General Purpose Financial Statements Combining and Individual Fund and Account Group-Statements and Schedules 1
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--n.
Williams Coo 3ers Cox
&LyJrand We ner d
Cox The Honorable Mayor-Commissioner and City Commissioners City of Tallahassee, Florlde j
j We have examined the general purpose financial statements of the City of Tallahassee, Florida and j
the combining and Individual fund financial statements of the City's entorpelse f unds, as of and
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f or the year ended September 30, 1987, as !!sfed in the Table of Contents. Our examination was j
made In accordance with generally accept ed auditing standards and, accordingly, i nc luded such
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tests of the accounting records and such other auditing procedures as we considered necessary In the circumstances, j
In our op 1.11on, the general purpose financial statements referred to above present fairly the financial position of the City of Tallahassee, Florida, at September 30, 1987, and the results of its operations and the changes in financial posttlon of its proprietary fund types and similar trust f unds for the year then ended.
Also, in our op1nlon, the combining and Indivldual fund financial statements of the Ci ty 's enterprise funds referred to above present f airly the financial position of each of the enterprise funds of the City of Tallahassee, Florida, at September 30, 1987, and the res u'I t s of op erations of such funds and the changes In their financlal position f or the year then ended, all In conformity with generally accepted accountlng principles applied on a basis consistent with that of the preceding year.
Our examination was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole and on the combining and Individual fund financial statements of the City's enterprise 'unds as cf September 30, 1987, and for the year then ended.
The combining Individual fund, and Individual acccent grou p financial statements and schedul es listed in the Table of Contents (except for the enterprise f unds ref erred to above) are presented for purposes of additional analysls and are not a required part of the general purpose financial statements of the City of Tallahassee, Florida. Such inforretton has been subjected to the auditing procedures appiled in the examination of the general purpose financlat statements and the combining and individual fund financial stat enents of the City's enterprise funds and, in our opinion, is f airly stated In all neterial respects in relation to the financial statements examined, taken as a whole.
Certain 1986 data included in the general purpose financial statements and the combining and Individual fund financial statements of the City 's enterprise funds and the accompanying su pol ementa l Information were contained in the City's comprehensive annual financial report for the year ended September 30, 1986, and are included herein f or comparative purposes only.
October 30, 1987
@opers & Lybrand Jacksonville, Florida
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WilliaCS, @X, Weidner la @ X in11ahissee, Florida 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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l CITY OF TALLAHASSEE, FLORIDA CGSINED BALANCE SHEET - alt. FUDO TYPES AND ACCOUNT (ROUPS September 30, 19e7 Governmental Fund Types Soecial Debt Capital General Revenue Service Projects ASSETS Cash 5
41,300 27,000 5
Equity in Pooled Cash.
2,946,400 397,600 3,465,700 36,830,100 investments...........
3,210,100 Rece i vables :
225,000 Special Assessments - Current 703,900 Special Assessments - Deterred.
95,600 129,500 Accrued Interest.
Pe t es.............
15,000 131,400 Customers...........
% 6,500 Acc oun t s............
708,900 306,200 296,900 Less: Allowance for Doubtf ul Accounts...........
('4,400)
Due f rom Other Funds.......
Advance to Other Funds.
.3,900 54,200 Deposits.............
35,103 Inventory.....
Restelcted Assets:
Equity in Pooled Cash Accounts Rece ivable......
Notes Receivable.
Fixed Assets (Not of Accumulated Deprec lat ion) thamortl zed Bond issue Costs...
Un m ortized Loan issue Costs.
Amount Available In Debt Service Funds.............
Amount to be Provided for Retire-ment of General Long-term Debt:
Bonds, Petes. and Loans Payable Acc rue d le a ve........
Total Assets.
$ 4,664,500 862,200
$ 6,825,600
$ 38,184,400 i
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CITY OF TALLAHASSEE, FLORIDA Fiduciary Totals Propeletary Fund Types Fund Type Account Groups (Memorandum Only)
Internal Trust and General General Long- _
September 30, September 30, En tsrpe l se Service,
Agency Fired Assets term Debt 1987 1986 5
125,600 1
287,700 5
5 5
45,200 5
12,100 5
96,722,200 85,458,900 11,997,100 10,107,700 30,977,600 126,387,300 101,229,600 123,177,200 225,000 172,500 703,900 688,600 226,800 64,300 2,700 223,900 370,300 368,000 11,600,700 10,596,900 10,634,400 3,082,000 2,120,400 886,200 68,600 815,200 (1,112,400)
(1,186,800)
(947,500) 45,200 79,100 45,200 500,000 525,900 85,900 60,700 59,000 6,500 11,431,100 11,250,300 9, f 63,900 2,232,100 123,288,800 97,767,300 120,252,600 3,036,'00 339,700 526,600 339,700 2,119,300 1,800,600 2,119,300 297,288,600 8,699,000 54,788,900 360,776,500 337,067,500 690,000 690,000 754,800 172,200 172,200 6,825,600 6,825,600 5,638,300 15,826,300 15,826,300 17,006,200
, 2,280,200 2,280,200 2,504,700 1452,476,800 5 24,207,400 5155,696,600
$ 54,788,900 5 24,932,100 5 762,638,500 5674,579,500 i
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The accompanying notes are an Integral part of these financial statements.
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CITY OF TALLAHASSEE, FLORIDA CGelMED BALMCE SHEET - ALL FUDO TYPES AND ACCOUNT GROUPS September 30, 1967 (Continued)
Covernmental Fund Types Special Debt Capital LI ABILITIES Am FUPO EQUITY Gener a l _
Revenue Service Project s Liabilltles:
Accounts Payable..........
$ 170,900
$ 7,000 71,800 Claims Payable...........
Accrued Leave............
Contracts Payable..........
279,700
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Reta lnage Payable..........
i Due to Other Funds.........
41,300 Advance from Other Fund.
Customer Ad vances..........
1 Ut i l i t y De po s i t s Pay a bl e......
Loan from Municipal Retirement Fund.
Payable frcm Restricted Assets:
Accrued interest and Commissions j
Payable.............
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Revenue Ebnds Payable.......
Retalnage & Accounts Payable...
Deferred Compensation Payable....
703,900 Deferred Revenue.....
Revenue Bonds Payable..
Unamortized Bond Olscount.
Special Assessment Pete Payable.
Special Assessment Certificates Payable.
Loan Payable............
total Liabilities.........
212,200 7,000 1,055,400 Fund Equity:
Contributed Capital...
Investment in General Fixed Assets.
Retained Earnings:
Reserved.
t.hreserved............
Fund Balances:
Reserved.
1,2 h,500 185,700 6,825.600 23,997,600 Unreserved:
Designated.
Undesignated..........
3,236,800 669,500 13,131,400 Total Fund Equity....,..
4,452,300 855,200 6,825,600 37,129,000 Total Liabilities and Fund Equity.
14,664,500
$862,200
$6,825,600
$38,184,400 i
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CITY OF TALLAHASSEE, FLORIDA Fiduciary Tota l s Propeletary Fund Types Fund Type Account Groups (Monora nd um On l y )
Internal Trust and General General Long-September 30, September 30, A ency Fired Assets term Debt 1987 1986 En9er pri se Service 9
5 7,883,600 5
5,007,300 1
7,486,600 1 144,900 1
2,400 t
- 5 1,162,800 1,162,800 2,280,200 4,763,000 4,838,100 1,841,400 641,400 3,011,500 3,085,000 3,011,500 279,700 77,400 3,900 45,200 79,100 525,900 85,900 500,000 25,900 254,400 275,600 254,400 5,674,900 5,674,900 4,742,300 223,900 258,900 223,900 72,500 3,900 72,500 125,000 657,700 388,400 657,700 2,574,000 1,843,000 2,574,000 770,800 816,200 66,900 20,605,000 154,643,500 158,825,500 134,038,500 (2,202,500)
(2,301,600)
(2,202,500) 2,000,000 24,900 24,900 39,500 16,178,000 2,022,000 18,200,000 24,932,100 198.565,800 180,'189,500 167,807,700 1,949,100 2,602,300 i
I 55,922,200 48,517,400 1
94,482,100 1,440,100 54,788,900 54,788,900 46,511,500 l
119,546,800 100,828,900 114,799,600 4,747,200 131,458,400 125,640,600 115,387,400 16,071,000 161,576,300 127,030,900 129,351,900 2,814,500 2,244,000 2,814,500 20,927,900 37,965,600 43,616,700 284,669,100 22,258,300 153,094,300 54,788,900 564,072,700 494,390,000 5 452,476,800 524,207,400
$ 15 5,696,600 554,788,900 5 24,932,100 5762,638,500 5674,579,500 The acea=eanying notes are an integral part of these financial statements.
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CITY OF TALLAHASSEE FLORIDA 0
CoelED STATEMENT OF REVENUES, EXPEM) litres, AND CHANGES IN Ft2O BALANCES ALL GOVDUMENTAL FUND TYPES APO EXPDOABLE TRUST FUNDS For the Fiscal Year Ended September 30, ]987 Governmental Fund Types Special Debt General Revenue Service Revenue s :
Spacial As sessment Revenues............
Taxes.......................
14,380,100 L i c en se s an d Pe rm i ts..,,...........
797,400 Intergovernmenta l Revenues............
7,710,200 2,087,500 Charges for Services...............
8,809,400 1,024,500 Fi nes a n d Fo r f e l t s................
751,900 35,000 Interest Earned.
298,400 8,700 223,000 Mi scel laneous Reven ues..............
826.400 25,300 Tot a l Rev en u e s.................
33,773,800 3,181,000 223,000 Expenditures:
Current:
General Government.
6,660,900 227,000 Pub l i c Sa f ety.......
18,113,100 32,000 Transportation...
7,053,700 333,400 Hum n Ser v i c es..................
989,100 545,800 Economic Environment 264,700 944,500 Physical Environment.
7,516,700 100 Culture and Recreation..
4,719,900 7,300 Capital Outlay.
10,400 Debt Service:
Principal Retired.
2,014,600 Interest and Fi sca l Charges...........
2,244,600 Total Expenditures...............
45,318,100 2,100,500 4,259,200 Excess of Revenues Over (Under)
Expend i tur es (11,544,300) 1,080,500 (4,036,200)
Other Financing Sources (Uses):
De bt Pr oc eed s....................
2,000,000 Proceeds from Sale of Property....
Operating Transfers in 25,399,700 58,200 3,223,500 Oper a t i ng Tra ns f er s Out..
(14,151,600)
(1,025,100)
Total Other Financing Sources (Uses) 11,248,100 (966,900) 5,223,500 Excess of Revenues and Other Sources Over(Under) Expenditures and Other Uses......................
(296,200) 113,600 1,187,300 Fun d Ba l a n c e s - Oc to be r 1...............
4,748,500 741,600 5,638,300 Residual Equity Transfer.
Fun d Ba l a n c e s - Se p t em be r 3 0.............
5 4,452,300 855,200
$ 6,825,600 B-8
CITY OF TALLAHASSEE, FLORIDA Fiduciary Totals Fund Type (Memorandum Only)
Capital Expenda bl e September Septenber Projects Trust 30, 1987 30, 1986 5
336,300 336,300 5.
155,600 71,300 14,451,40 13,511,500 997,400 1,102,500 56,000 9,853,700 11,718,900 19,600 9,853,500 7,657,500 786,900 612,100 2,712,600 1,710,100 4,952,800 8,210,000 35,800 96,000 983,500 1,244,800 3,084,700 1,953,000 42,215,500 44,212,900 82,500 68,500 7,038,900 6,688,500 18,232,700 16,595,400 87,600 6,306,600 13,693,700 12,566,100 118,300 1,653,200 1,157,800 149,700 1,358,900 1,422,400 7,540,300 7,203,900 23,500 247,100 75,700 5,050,000 5,268,000 7,952,000 7,962,400 1,832,100 2,014,600 6,014,600 j
2,244,600 2,219,100 14,967,300 144,200 66,789,300 60,967,900 (11,882,600) 1,808,800 (24,573,800)
(16,755,000) 2,000,000 6,000,000 319,200 319,200 25,000 14,201,000 664,000 43,546,400 46,640,000 (399,200)
(4,580,000)
(20,155,900)
(28,504,500) 14,121,000 (3,916,000) 25,709,700 24,160,500 2,238,400 (2,107,200)
I,135,900 7,405,500 34,890,600 26,757,900 72,776,900 67,025,900 (893,500)
(893,500)
(1,654,500)
$ 37,129,000
$2 3,7 5 7,200
$7 3,019,300
$72,77 6,900 The accompanying notes are an Integral part of these financial statements.
B-9
CITY OF TALLAHASSEE, FLORIDA COMilNED STATDeENT OF REVENUES AND EXPENDITUtES - BUDGET AND ACTUAL GDERAL FUM) TYPE For the Fiscal Year Ended September 30, 1967 1987 1986 Actual 01 Verlance-Budgetary Favorable Bud get Basis
( Unf avorable)
Actual Actua l Revenues:
Taxes............ $14,2 59,4 00
$14,380,100 120,700
$14,?30,1no
$19,443,700 Licenses and Permits....
950,000 997,400 47,400 997,400 1,102,500
)
Intergovernmental Revenues.
7,257,700 7,710,200 452,500 7,710,200 7.501,000 Charges for Services....
9,247,600 8,809,400 (438,200) 8,809,400 6,610,100 Fines and Forfelts.....
553,000 751,900 198,900 751,900 59t,600 Interest Earned.......
307,000 298 400 (8,600) 298,400 503,200 3
Mi scellaneous Revenues...
583,800 820,800 237,000 826,400 870,200, Total Revenues......
33,158,500 33,768.200 609,700 33,773,800_
30,62?,S00 Expendi tur es:
Current:
General Government.
7,176,000 6,685,000 491,000 6,660,900 6,165,000 Public Sa f ety.
18,343,000 18,052,700 290,300 18,113,100 16,346,800 Transportation.....
7,010,800 6,750,600 260,200 7,053,700 5,998,200 Human Services......
1,006,900 991,400 15,500 989,100 914,100 Economic Environment 292,600 264,700 27,900 264,700 256,700 Pnysical Environment.
8,147,000 7,022,200 1,124,800 7,516,700 5,578,200 Culture and Recreation.
4,978,300 4,781,800 196,500 4,719,900 4,570,800 Tota l Expendi tures...
46,954,600 44,548,400 2,406,200 45,318,100 39,829,800 Excess of Revenues Over (Under) Expendliures.. (13,796,100)
(10,780,200) 3,015,900 (11,544,300)
(9,207,500)
Other Financing Sources (Uses):
Operating Transfers in...
25,309,300 25,399,700 90,400 25,399,700 28,591,500 Operating Transfers Out.
(11,204,600)
(14,151,600)
(2,947,000)
(14,151,600)
(17,833,800)
Total Othe. Financing Sources (Uses) 14,104,700 11,248,100 (2,856,600) 11,248,100 10,757,700 Excess of Revenues and Other Sources Over (Under)
Expenditures and Other Uses.......... $
308,600 467,900
$ 159,300
$ (296,200)
$ 1,550,200 l
9.fo The accompanying notes are an Integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA Cast Ined Statement of Revenues, Expenses and Changes in Retained Earnings / Fund Belances All Pr erlotary Fund Types and SIsliar Trust Funds For ttle Fiscal Year Ended Septestier 30, 1987 Totals preer f et a ry Fund Tyees Fldvelars Fved Twee the oreadve Chiv) interaal Peasion Peaempeassele Sett emoor Seotencer f a terpe l se Servlee Tru st Tevet 30, 1987 30, l996 opsretlag stewaves:
Ch sec o s Mr Serv i c es............ 5144,642,600 122.077,700 $
- 5
- 5 170.720.300 1f 56,046.200 8,384,500 38,500 5,423,000 t,56 0,100 lane tsaat S enave.............
Inescoeat Gelas-8.et.
14,tle,600 14.114.600 7.180,500 Con tr i but ions...............
I t.592.100 11,592.100 10,738,900 Mlacellaneous...............
3,500 9,100 12,700 21,300 322,900 Total Coerot l ag Revenues.........
148,642,600 22,081,200 34,100,500 S1,200 204,875,500 178,648,600 Oporttlag Empeases 23,5So,700 21.689,600 Persona l Serv i c es.............
16,452,500 6,706.200 35.819.900 34,424,100 Fossil Fuel................
35,819.900 12.080.S00 9,915,200 Power Pur cm a see..............
12,080,500 Ocs Pscassed.
5,649,303 5,649,300 5,479.500 u ter l e i s aae Su po l i e s...........
2.205,300 163.000 2,368,500 2.090,400 a
Con tr act ua l Ser v i c e s............
15, t 26,400 10,030,400 2 5, t 56,800 23.556,000 Other E x pea se s...............
6.049,900 3,791.200 9,441,100 5,127,500 Les s t Aeolled Eevi pasat Charges......
(416,100)
(416.100)
(623.400)
Dep eciation................
II,688,600 f,277.600 13,166.200 12,724,900 hortizatloa.
169,000 169,000 177,600 Bea s t i t Po v=e a t s..............
3,264,000 3,264,000 2,920.300 potvnes..................
953,800 953.800 606,700 l a s ur anc e.................
25 t00 25.100 229,200 4delaistre+1oa......
=
=
686,200 686,200 614,300 Total Coeretlag Espenses.........
105,421,500 21,968,400 4,929,100 132,323,000 I t s,924, 500 Operst l ag lacome....
43,217,I00 117,800 29,171,200 51,200 72.SS2,3M 99,924,300 moa-ocereflag AevenuestEspensests laterest eeveave..............
10,247,500 415,800 10,663,100 13.053,600 Oc's oa Sale - Surplus Property.
7,600 79,700 47.300 12,400 Gr eat Reveave.....
770.000 770,000 f 041,800 Ot her sewa e s...............
4,068.700 70.100 v
4,138,600 1.342.900 laterest & Coas.l s s ica E. pea ses.......
(12.032,500)
(12,032,500)
(9,946,4001 Loss on Sale of Property.
(193.300) t193,300)
(103)
Other Espenses...............
f t 449,7001 (t,449,7005 (192,400)
Tota l w-ooer st l ag Aswaves.......
i,4 8. t 00,
569,600 e,963,700 4,91t,800 lacane Setore operstlag Treasters and Estraordi aery itee.
44,635,200 673,400
?p 171,200 51,200 74.536,000 64,836.100 j
operatlag Treasters la...
I,532.000 2,670.400 4,202,400 6,423,900 Operatlag fraasters out f 27,470,303) t i ??,600 )
(27,992,900)
(24,599,4001 tacome Before Estraordinary it em.
18,696,900 3,226,200 29.171.200 51,2C0 51,145,500 46,700,600
)
Ga la ca Re f un d l ag of Boads..........
24,564,100 No t f aceae............
18.696,900 3,226,200 29,171,200
$1,200 51,145,500 71.266,700 Olsoosition et %e t lacceen lacrease la Coatelbeted Capital (32,400)
(32,400)
(37.400) 0 preciation oa Coatelbutee Gr ea t s As s e t s...............
1,791,500 t,791,500 t,6 40, 300 i
Not lacrease la Aetelaos Earalags/ Fund Balances.........
20,416,000 3,226,200 29,171,200 51,200
$2.864,600 72,869,600 8etalaed Caralags/
Fund Selances - Octeoer f.
209.771,000 16,698.500 99,614,700 S00,000 326,584.200 252,060,l00 eesidual Esvity Treat f er..
995,500 993,500 1,654,500 etteined Earalags/
Fuas se i eac es 5.ste.eer 30......... s2 50, i s7,000 s 20,4 is,200 si2s,7sS,900 5
SSi,200 5380,342,100 ss?s,984,700 i
The arc==panying notes are an Integral part of these financial statements.
g
CITY OF TALLAHASSEE, FLORIDA Cosb1ned Statement of Changes in Financlel Position All Proprietary Fond Types and Steller Trust Funds For the Fiscal Yeer Ended September 30, 1987 Totets Pr ope l.t e rt r a a 7,es rievciety a vae 7,.,
(u r,anov. Dai,)
o 9
9 Internal Pension peoa e rpeadable 5eefember Soot enbe r (Merpelse Servlee 7evs*
7evst 30, 1987 30, 1986 Sources of workins, Capitel:
Operat loas:
IKeme Be f ore E rt r eordi nary i t en.
I 18.696,900
$ 3,2 26,2 00 129,171.200 51.200 1 51, f 4 5,500 1 46,700,600 itses not Reev1 ring (Providing) norting Cop 19 ell Oepr W atter.
l i,8 88,600 1,277,600 13.166 W 87,724,9 00 169,000 177,600 Asert j get.on,,,
169,000 Accrofloa.
1,118,000 1,118,000 1,020,400 Cle l es Pov et t e - 8 eon-curr ea t.
83,900 83,900 A c cru ed L e ev e...,.......,.....
79,9 00 69,600 149,500 139,400 w rking Capital Provloed be Operetloas Before o
t ut reor el nery i t ea 31.952,400 4,657.300 29,171,200 51,200 65,832,100 60,762,900 24,566,100 Gef a on Ref vaelag of Bones,,...,,......
lacrease in Loea.
16,178,000 16, t ?8,000 50u,000 l ac rea se i n Ad veac e f r om Oth er F un d s........
500,000 321,7 @
Increase in Customer Contracts Peystile.......
~
=
Res teval Eevity frenster.
893,500 893,500 1,654,500 Duroese in Long-term Portion es anotes Receivelple.
35,000 25,000 32,500 Coat r i but l oas....,,.............
4.228,200 1,154,800 9,383,000 3,828,800 Cueresse f n R es tr let ed A s set s,,.........
1,009,900 1,009,900 30,000 Ret i r ement of Plent in $eevice......
244,800 27,900 272,700 101,400 l a c r os s e l a C u s'me r A d va nc es...........
15,400 15,400 23,0 00 l acr eas e i n Def erred R evenue............
1,200 Boads lasped.
112,930,100 lacrease in Petable tra' Restricted Assets...,,
314,600 314,600 19,300 Total Sources of torting Capital.
57,43Ls00 7,74L400 29,206,200 51,200 94,434,200 204,272,100 uses of moratng Capital:
Ace vi s i t ion of f l u ed a s et s,,.........
25,991.100 2,880,700 s
28,871.8 00 23.241.100 i nc r ease l a R es t r i ct ed A s s e+ s...,,......
26,663,300 26,663,300 32,430,300 Cont r i bu t t oa s...................
259,300 259,300 Decrease in Custcae-Ad v a ac es..,.,,.....
4,000 4 A00 16,600 Dicr ea s e i n De t er r ed R e v enu es...........
700 7M 13,8 00 Dec r ea se i n Boa ds Pa v a t t e....,,...,,,.
5,300.000 5,300,000 125,155,000 Increase in Bond Discovat 752,200 Bacrease In Bond issve Cost 400 4 30 260,700 increase la Loan issve Cost 175,400 175,400 Keovet t on In Coa'rlbv*ef Capital.
25,200 it+4vettoa o* toen from m nf etcal Retirosaent Fuad..
37,900 37.900 35,000 u
Decr ea se I n Cu s tone Coa tr eet s Pe te c l e.......
74,700 74,700 4,800 Decrease In Petable from Restrleted Assets.....
109,600 109,6 00 903,400 i
total uses of sorting Cooltal.
58,616d 2,880,700 61,497,100 18 2,8 38, t00 het lacrease (Decreasel In sort ing Cap ital.
5 0,18 L 000) 14,862,700 129,206,200 5
51,700 5 32,937,100 5 21,454,000 El saeats of het lacrease la moratng paalf el:
j Cesa,,.....................
1 (78,6001 01,700)
( 00,300) 5 61, 2 l tovity la Pooled Cash
- 2. M,
- 5,M,2 b M,e 51,M Ipil,*
4,m, @
a c er es i nt er es t Rece!vable,,
(10,800)
(10,8 @)
(10,000) v l a ves tmea t s - A t Cos +...............
23,330,800 23,330,800 18,973,000 Accovats Reesivable......,,.......
695,200 63,300 86,700 845,200 (2,640,400) l l a ven tory.,
(43,5003 189,000 145,700 (483,9001 '
Ove troe Otne* Funes, 0 3. W 3 (2,937,'900) 1,017,100 III * )
II'#
Accovet s Pe ta bl e.....
(2,852,800)
(85,200) 100 Cleles Paveble
- Current.
(1,078,900)
=
( 1,0 78,9 %)
Cu st ome
- Cont r a e+ s Pa v a t i e.
(I,2001 (1.2001 128,400 Cu s t ome r A d va nc es................
32,600 32,600 (47,300)
Due to Other Funds....,,..........
(1,600)
Ut i l i ty Depos i t s P e t a b l e,...........,,
(932,600) t 932,6 001 081,4001 e ' t r emenFvne........
O,000) 0.000)
(2,700)
Losn troe W alcipal e
w.' lacrease (c.er.as.) i n oora i n, Co,i t s i....
s o 8 tom >
54, s 62,7 m s 7 9,2 06,2 x s
Si,7m s 32,9 37,im s ? i,4 54,000 i
PU The accompanying notes are en Integral part of these financlal statements.
w I
NOTES TO FINANCIAL STATEMENTS j
l j
\\
i CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30, 1967 NOTE I - SlamARY OF SIGNIFICANT ACCOWTING POLICIES The financlal statements of the City have been prepared in accordance with generally accepted accounting pr i nc! ples (GAAP) as a ppl i ed to gover nmental units.
The Governmental Accounti ng Standards Eberd (GA S8) is the standard-setting body for governmental accountlng and financial reporting. On June 15, 1987, the GAS 8 i s sued a codl fication of the then exlstlng Governmental Accounting and Financlal Reporting Standards which, along with subs eq uent GAS 8 pronouncrients (Standard; and Interpretations), constltutes GAAP for governeental units.
This sumary of Tallahassee's s!gni ficant accounting policles is presented to assist the reader In i nter pret ! ng the financial statements and other data in this report.
These policles are con s i dered essentlal and should be read In conjunction alth th e accompanying financial stat ement s.
A.
REPWTING ENTITY - The City of Tallahassee Is a pol!tical subdivision of the State of Florida located in Leon County In the north central portion of the State.
Tallahassee, the capital city of Fl or id a, Is the county seat and the only incorporated municipality In Leon County.
The City was i ncor por ated in 1825 and has operated since 1919 under the same charter.
The Cl ty is approximately 56 square miles In area.
The City Is a full service city providing its cltl2 ens with a full complement of mun lci pal services.
In addition, the City owns and operates six utilities including: an electric ganeration, transmission and distributton system; a natural gas distribution system; a water production and distribution system; a sewage collection and treatment system; a mnicipal alrport and a bus system.
Th is report includes financlal statements of the f unds and account groups required to account for those financial act l vlt l es wh l Ch are related to the City and are controllod by or dependent u p3 n the City's legislative tody, the City Commission.
Control or dependenc a upon the City was determined on the basis of bud get adopt ion, taxlng authorl ty, outstandi ng debt secured by revenues of general obligations of the Ci ty, or the Clty's legal responslbllity to fund any deficits that may occur.
On this basl s, the following entitles are not part of the C!ty of Tallahassee and thus, are excluded from the acccrnpanying financlal statements:
Th is aut hor i ty was created by the Ci ty pursuant to State Tallahassee Housing Authority Statutes with comi ssioners of the Authority appointed by the City Commission. Operations are administered by the Authority and financed with Federal f unds and rentals. Outstanding d ebt of the Authority 15 not an obilgation of the City.
Sunshine State Governoontal Financing Comelssion - Although the C!t l es of Orlando and Tallahassee, Florida entered into an Interlocal agreement to create the Commission and undertocA certain Initial risks to ensure its ability to sell bonds, the Comi s s ion Is a jolnt venture between the merbers of the governmental units (See Note V.8).
Crystal River Unit 3 - As I n d icat ed in ?bte v.A, the City of Tallahassee has an ownership interest in the Cry sta l Alvor Unit 3 n uc l ear powe r plant operated by Florida Power Corporation.
The City's Interest does not meet the criterla for inclusion as part of the reportlng en+1ty since the operation of the plant Is not controlled by the City.
8 BASIS OF FHESENTATION - The accounting records of the City are orga n i zed on the basis of funds and account y ou ps.
For re port l ng pur po ses, the verlous funds of the City are classifled into three basic fund t ype s:
go ver nment al f un d s, prope letary funds, and flduciary funds.
In ad di t ion to the verlous f und types, a fourth cat egory of accounting entitles is the account groups.
8 13
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30, 1967 j
NOTE I - (Continued)
Amounts in the "Totals (Nemorandum Only)" columns In the combined financial statements represent a summation of the conbtned financial stat ement line items of the f und types and account groups and are presented only to f acilitate financial analysis. Data in these columns do not pr esent financial position, results of operations, or changes In financlat position In conformity with generally accepted accounting principles. Nolther is such data comparable to a consolidation.
Interf und eliminations have not been made In the aggregation of this data.
Certain balances presented in the financlal statements for the year ended September 30, 1986 have been < reclassified for comparat!ve purposes in the accompanying financial statements.
The following fund types and account groups are used by the City:
GOVERf00 ENTAL FLAOS The focus of Governmental Fund measurement is upon determination of financial position and changes In flnenclal positl3n (sour ce s, uses and, balances of financlal resources) rather than upon determination of not lncome.
Th e following 1s a description of the Governmental Funds of the City:
GENERAL FUND - The General Fund is the general operating fund of the City, it is used to account for all financlat resources except those required to be accounted for In another fund.
SPECI AL REVENUE FulOS - Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than expendable trusts, or major capital proj ect s) that are legally restricted to expenditures for speel fled purposes.
DEBT SERVICE Fl#0S - Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long-term debt pr i n c i pa l, Interest, and related costs.
CAPITAL PROJECTS FLAOS - Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facllities (other than those financed by Proprietary Funds and Trust Funds).
PROPRIETARY FUNOS The focus of Propel etary Fund measurement is upon determination of not Income, financial position, and changes in financial position.
The generally accept ed accounting pr i nci pl es utillzed for these funds are those siellar to businesses In the private sector. The following 1s a descelption of the Proprietary Funds of the City:
ENTERPRISE FUPOS - Enterprise Funds are used to account for operations (a) that are financed and operates In a matter similar to pr ivate businest enterpelses - where the Intent of the governing body is that the costs (expenses, including depreclatlon) of providing goods or services to the general pubile on a continuing basis be flaanced or recovered pr imar i ly t hrough user charges; or
( b) where the governing body has decided that periodle determination of revenues earned, expenses In curr ed, and/or net Income is a pprope late for capital malntenance, public polley, nanag emen t control, accountability, or other purposes.
INTERNAL SERVICE FUPOS - Internal Service Funds are used to account for the financing of goods or services provided by one depar tmen t or agency to other departments or agencles of the City, or to other governments, on a cost-reimbursement basls.
B-14 i
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCI AL STATEMENTS September 30, 1987 NOTE 1 - (Continued)
FIDUCIARY FU @ S TRUST ADO AGEICY FUpOS - Trust and Agency Funds are used to account for assets held by the City In a trustee capacity or as an agent for Ind ivIduals, private organ i zat ions, other governments, and/or other f unds. These include Expendable Trust, fenexpendable Trust and Pension Trust Funds.
Pension Trust Funds and Pbn expend able Trust Funds are accounted for In essentially the same manner as Propeletary Funds since capital maintenance Is critical. Expendable Trust Funds are accounted for in essentially the same manner as Governmental Funds.
Agency Funds are custodla!
In nature (assets equal liabilities) and do not involve measurement of results of operations.
ACCOUNT GR0tPS Account Grou ps are used to establi sh control and accountabillty over the Ci ty's general fixed assets, and the unmturM pr i nci pal of its general long-term debt, which is not associated with, or the obligation of, the proprietary or trust f un ds. Accordingly, the City maintains a GENERAL fixed ASSET ACCOUNT GROUP and a GENERAL LONG-TEDN DEBT ACCOUNT GROUP.
ELIMINATION OF SPECI AL ASSESSMENT FUDO - In accordance with GASB Statement No. 6, Accounting and Financlal Reportl ng for Special As ses smen t s, the City has el Iminat ed the use of the Special Assessments Fu n d-t yp e.
Financial Information for fiscal year end ed Septem ber 30, 1986, wh ere presented, has been restated.
C.
BASIS OF ACCOUNTING - Basis of accounting refers to when revenues or expenses are recognized in the accounts and re port ed in the financial s tat ement s.
Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied.
All Gover nmenta l Funds and Expendable Trust Funds are accounted for usi ng the edi fled accrual basis for accounting. Their revenues are recognized when they becme measurable and evallable as net current assets.
The fol'owing revenues are cons idered to be susceptible to accrual ren t r ev enu es, cigarette tax revenue, telephone tax rev en ue, moblie home llconses, Federa l and state reven ue sharing a nd special assessments.
Interest earn ed on s peci al assessment lovles and Interest expense on offsetting long-term de bt Is not accrued un less f ul ly matured and un pa ld.
Proper ty taxes are accou9t ed for when meas urable and available as pre scr i bed in PCGA Inte pretation #3.
Expenditures are generally recognized un der the mdlfled accrual basis of accounting wh en the relatM f und li abi li ty is In cur r ed.
Pr inc l oal and Interest on gener al long-term debt are recognized when due.
Al l Proprietary Funds, Pbnexpendable Trust Funds, and Pension Trust Funds are accounted for using the accrual ba s is of accoun t i ng.
Ut i li ty r evenues are r ecorded as earned.
Fuel adjus tmen t revenues are recognized based on the actual fuel costs. Mounts charged based on estimated costs are adjusted mnthly for any dif ferences between the actual and estimated cost once actual costs are known.
D.
BWGETARY DATA 1.
BLOGET POLICY - Budgets are legally ad opted for the General and Enterpelse Funds and are controlled on a fund and departrental level.
The City Manager i s aut hor i zed to transfer budget amounts within departments; however, any revision that alters the total expend i tur es of any department or f und must be approved by the City Commission. In Instances where budget B-15
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATDIENTS September 30, 1967 NOTE 1 - (Continued) appropriations and estimated revenues have been revised during the year, budget data presented in the f!nancial statements re present f!nal author I zed amounts. then cumber ed a ppropel at ions are laosed at year end.
2 ENCtBERA8CES - Encumbrance accoun ti ng, und er wh ich purchase ord er s, contracts, and other commitments for the expenditures of monles are recorded to reserve that portion of the appilcable appropriation, is employed as an extenston of formal budgetary Integration In the General Fund, and Capital Projects Funds. Encumbrances outstanding at year end are reported as reservations of f und balance since they do not constitute expenditures or liabilltles.
E.
ASSETS, LI ABILITIES AM) FLDO ECMITY 1
INVESTMENTS - Investments, except for those included In the Deferred Compensatlon Fund, are stated at amort l zed cost.
Investments in the Deferred Compensation Fund are stated at ma r ket vslue.
2.
INVENTORY - Fuel Inventory in the Electric, Airport and Tallahassee Transit Funds are stared at the lower of cost or market based upon a moving average Cost.
Fuel Inventory in the Gas Fund 13 stated at lower of cost or market utilizing the first-In, first-out ( r'I F O) method. Mater!al Inventory in the Tallahassee Transit Fund, consisting of maintenance parts and tires, and I nv en tor!es In the Internal Service Fun ds, consistlng of general off!ce supplies, maintenance part s, tires, and f uel held for consumption, are stated at we lghed average cost.
Ap prope late allowances have been recorded for obsolete items. Perpetual Inventory records are malntelned for all signif! cant Inventories.
All Inventor!es not account ed for in the Enter pe l se Funds are accounted for in the internal Service Funds.
- 3. ADVA8CE TO OTHER FlpOS - Noncurrent portions of long-term Interf und loans receivable (reported in " Ad vance t o" asset accounts) are equally offset by a f und balance reserve account which Indicates that they do not constitute aavailable sponda bl e resources" since they are not a component of not current assets. Current portions of long-term Interf und receivables (reported in "Due from" asset accounts) are considered "available spendable resources.a
- 4. FIXED ASSETS - Flxed assets used In gover nmental fund type operations (general flxed assets) are accounted for in the General Flxed Assets Account Gr ou p, rather than In governmental funds.
Pubilc domain general f ixed assets consi sti ng of certain Improvemen ts other than buildings, lncludlng road s, br id ge s, cures and gutters, streets and s id ewa l k s, dratnage systems, and lighting systems are not capitalized. fb depreclatlon has been provided on general fixed assets.
All fixed assets are valued at historical cost or estimated cost if actual cost is not available.
(bnated flxed assets are valued at thele estimated f air value On the date donated.
Depreclatlon of all exhaust!ble fixed assets used by proprietary funds is charged as an expense against their operations.
Accumulated depr eciat ion Is re ported on Prope letary Fund balance sheets.
Depreciation has been provided over the estimated useful Ilves using the straight line method, alth no deprecl at ion record ed In the year of addition a nd full year's de pr ecl at !on recorded In the year of ret i r emen t.
De pr ecla t ion is charged to contributed capital for those assets constructed or purchased with f unds received from Grants, Entitlements or Shared Revenues.
The estimated useful lives are as follows:
Buildings..............
10 to 40 Years leprovements other than Bulldings..
10 to 40 Years Machinery and EQulpment 10 to 65 Years vehicles...............
5 to 15 Years 9-16 4
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS Septeunber 30, 1967 NOTE I - (Continued)
The City of Tallahassee follows the Federal En ergy Regulatory Commission's Uni form System of Account i ng; therefore. ret ir erents of t/tl lity ' Funds' plant In service are accounted for in accordance with Federal En ergy Regulatory Commisslon regulations, wh er eby, when an asset ls retired, the cost of the asset is charged to accumulated depreclation.
Net Interest costs Incurred during long-term constructlon projects are capltalized.
5 80m DISColMTS Am ISSUANCE COSTS - Bond di scounts and Issuanco costs are de f erred and amortlzed over the tera 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.
6 LOAN ISSUANCE COSTS - Loan issuance costs are deferred and amortized over the term of the loan.
F.
REVENUES, EXPEmlTLRES Am EXPENSES 1
PROPERTY TAXES - Under Florida l aw, the assessment of all properties and the collection of all coun t y, mun ic i pal and school board proper ty taxes are con so l ldat ed in the of fices of the County Property Appraiser and Coun ty Tax Collector.
Th e laws of the State regulating tax assessment are also designed to assure a consistent property valuation method stateslde. State statutes permit municipalltles to levy property taxes at a rate of up to 10 mills. The mi l l age rate assessed by the City for the fiscal year ended September 30, 1987 was 2. A88.
All proper ty is asse ssed according to its f air market value on January 1 of each year.
Each assessment roll 15 submitted to the Execut ive Olrector of the State Department of Reven ue for r ev i ew to determine if the rolls meet all of the appropriate requirements of State statutes.
The current year taxes for the fiscal yea r, beginning October 1,
are billed in the month of November and are due no later than Msrch 31. On April 1, al l unpaid amounts become dellnquent and are subject to Interest and penaltles. Ol scounts are allowed for early payment at the rate of 45 In the conth of Novem ber, 31 In the month of December, 21 In the month of January and 1% in the nonth of February. The taxes pald in March are without di scount.
Dellnquent taxes on real property bear Interest of 185 per year. Ch or pr ior to June 1 f o l lowi ng the tax year, certlf f cates are sold for all de ll nq uent taxes on real property. After sale, tax certi ficates bear Interest of 185 per year or at any lower rate bld by the buyer.
App i lcat ion for a tax deed on any unredeemed tax certificates may be made try the certificate holder af ter a period of two years.
De l l no uent taxes on persona l ;roperty bear Interest of 181 per year until the tax Is sat t stled either by selzure and sale of the property or by the five year statute of f lm! tat ion s.
Since the Leon County Tax Co l l ector's Of f lee acts outckly in selling tax ewti ficates and in remittlnq such collect!ons to the City, no dellniuent nor uncol l ected property taxes exist at year end.
The City Tax Calendar is as follows:
Valuation Oste Ja nua ry I Levy Oste
- trember 1 Ove Date
- March 31, Succeeding Year i
1.len Date
- Apr !!
1, Succeeding Year B-17
~
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCI Al. STATDIENTS September 30, 1967 i
i NOW I - (Continued) i 2
ANORTIZATION OF NLCLEAR FLEL - The cost of nuclear f uel, including estimated disposal ce s t,
ls charged to operating expenses.
These costs are charged to customers through increased rates
)
or through the f uel adjustment clause.
j 3.
CG6'ENSATED ABSEICES - Al l full-time employees earn vacation and sick leave starting with the first d ay of empl oymen t ; all part-t ime employees earn vacation and sick le ave in proportion to the number of hours In their normal work day.
Vacation leave ss earned based on years of continuous and creditable service as follows:
Years of Service Total Days Per year Up to 5 12 5 to 10 15 10 to 20 18 Over 20 21 A maximm of 30 days vacation leave t ime may be carried over frm one fiscal year to the next.
An emp loyee wh o terminates ep l oyment with the City is paid for any m used vacation leave accumulated to the tire of termination.
Sick leave is earned at the rate of eight hours for each month of service with no maximum flmit on the number of hours wh!Ch may be accumulated. An employee who terminates frm the Clty for any reason other than retirement (as defined by the provlslons of the appropriate City Pension Plan) or death, does not receive payment for unused s1ck leave, if the ernployee retires or dles, the employee (or his beneficlary or estate) is paid one quarter of the total amount of sick leave accumulated by him or her on the ef fective date of his or her retirement or death.
Accumulated un pa id vacation and sick pay mounts are accrued when vested in Proprietary Funds.
The Governmental Funds accumulated liabilltles are recorded in the General t.ong-term Debt Accomt Gr ou p.
)
4 AIRPGtT FUDO - The Airport Fund financial statements include a payment of 5116,800 to the General Fund annual ly.
This amount represents relmbursement for a pro rata share of current debt service peld by the General Fund, based upon the port!on of bond proceeds from the 1973 general revenue bonds i ssued that were used for construction at the Airport.
The 1973 bonds.m w not recognized as a llability of the Alrport Fund, but Instead were con sid ered part of the City's general long-term debt.
For the f i scal year ended Septaber 30, 1987, the Airport Fund accounted f or this payment by charging contributed capital for the amount represented by bond principal and expensing the Interest port lo n.
5.
INTERGOVERM4 ENTAL CHARCES - Certain f unctions of the City of a general and administrative nature are centralized and the related costs are allocated to the various funds of the City.
Such costs allocated to the En ter pr ise Funds for the year ended Se ptember 30, 1987 are as follows:
Electric............
5 3,823,200 Gas..............
1 435,400 Sewer..
$ 1,105,800 eter.
$ 1,078,300 Aleport 239,100 Taltran.
1 162,500 B-lE
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCI AL STATEMENTS September 30, 1967 NOTE 1 - (Continued) 6.
RECOIClLI ATION OF BLOGETARY BASIS TO GAAP BASIS - The 8ollowing schedule reconciles the "Excess of Revenues and Other Sources Over (thder) Expenditures and Other uses - Budgetary Basis" to the "Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses - GAAP Basls" 'or the General Fund for the year ended September 30, 1987:
Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses - Budgetary Ba si s.......
1 467,900 Decreases in Reserve for Encumbrances....
(769,700)
Establishment of Inventory.........
5,600 Excess of Revenues and Other Sources Over (Under) Expenditures and Ot he r Use s - GAAP Ba s i s.........
1(296,200)
NOTE II - STEWARDSHIP, COFLI APCE, AND ACCOUNTABILITY A.
COFLI ANCE WITH FINAM:E-RELATED LEGAL AM) CONTRACTUAL PROVISIONS The City has no material violations of finance-related legal and contractual prov i s ion s.
B.
DEF1 CIT FUND EQUITY OF l801VlDUAL FUNDS There are no Individual funds with a deficit f und equity balance.
C.
EXCESS OF EXPEM)1 TIRES OYER APPROPRI ATI08tS 1M iM)1YlDUAL FUPOS No individual fund contained an excess of expenditures over appropriations.
D.
ESTABLisleeENT OF MEW FUPOS 1.
Storm,ater Management Fund - Since October 1983, the City nas assumed the responsibility for stormaater management within the City limits. The assumption of this responsibility had placed a signl ficant bur den on the General Fund for both the operations and capital Improvement costs, in order to reduce the burden on the General Fund, the Clty Comelssion passed an ordlnance on May 28, 1986, wh i ch estabilshed a stormwater man agement fee on all proper ty within the City limits. The ef f ective date of the ordinance was October 1, 1986.
Under the provisions of the ordinance, the stormwater man ag ement fee Is restricted for storewater operating and capital costs.
Ac counta bi l ity for this fee has been achleved through the establishment of the Stormwater Management Fund (a Special Revenue Fund-type).
2.
Risk Management Fund - On October 1, 1986, the City estabilshed a Ri sk %nagement Fund (an Internal Service Fund) to account for the Ins urance progrern of the C]ty, Under thls program, the Ci ty is self-Insured for Norkers' Compensation (up to a maximum of $100,000 per oc c urenc e ),
General L1 abi li ty and Automoblie Liab!Ilty.
The Risk Man ag ement Fund is r espon sl bil e for collecting premlums f e crn In sur ed f unds and paying claims settl ements and purchasing certain Insurance pollcles. Cla ims settlements and loss expenses are accrued In the Risk %nagement Fund for the estimated settlement value of reported and unreported claims arising f e crr. Incidents d uri ng the period.
The est imated va lue of unre port ed claims wer e determined by utlllting reporting patterns of a) the Insurance Industry as complied ty A. M.
B-19
1 1
(
CITY OF TALLAHASSEE, FLORIDA l
NOTES TO FlNANC1AL STATEMENTS l
September 30, 1987 l
l l
NOTE 11 - (Cont!nued) l Best Company and, b) simitar risks In Florida.
As a part of the establishment of the Risk Management Fund, the Special Insurance Reserve Fund (an Expendable Trust Fund) was, as of October 1,
1986, closed with the residual balance transferred to the Risk Msnagement Fund. The Special Insurance Reserve Fund had been prevlously estabilshed by the Clty as a reserve agalnst excesslve l os ses by the City from destructive acts of nature and other such occurences not covered by Ins ur a nc e.
E.
PRIOR PERIOD ADJUSIMENTS - AIRPORT AM) YALTRAN FIAOS Ouri ng 1987, as part of the analysis of Contr i but ed Capital, the staff di scover ed that Contributed Capltal as prevlously reported for A!rport Fund and Taltran Fund had been incorrect.
All amounts di scl aed in this report have been restated as If the correction had been made as of September 30, 1985.
Contributed Capital for these funds, as of September 30, 1985, was originally reported as $11,104,300 and 19,729,300, respectivgly; the ef fect of the correction was to restate in the amounts of $11,876,500 and 19,991,600, respect ively.
NOTE Ill - DETAIL NOTES - ALL FUWS AW ACCOUNT Gt0lFS A.
ASSETS 1
EQUITY IN POOLED CASH, DEPOSITS A W INVESTMENTS The City of Tallahassee maintains a cash and Investment pool that is available f or use by all funds.
Each f und's portion of this pool Is displayed as "Equity In Pool ed Cash."
Interest earn ed by this pool is distributed to each f und monthly based on weekly ba l an ce s, in addit!on, investments are separately held by several of the City's f unds.
Deposits - At year end, the carrying amount of the City's deposits was !!85,500 and the bank alance was $4,295,900 The bank balance was covered by federal depository insurance and, for the aaount in arcess of s uch federal depository Insurance, by the State of Florlda's Pubile Deposl t Act.
Provlslons of the Act req uire chat public deposits may only be made at quellfled pubile depositories.
The Act r equir es each quellfled pubile de posl tory to deposit with the Stat e Treasurer ellglble collateral eq ua l to or in excess of the required collateral as determined by the provisions of the Act.
In the event of a f ailure by a quellfled public deposltory, losses, In excess of federal depository Insurance and proceeds from the sale of the securltles pledged by the def a ult i ng df,pos i tory, are assessed against the other quallfled pubile depositories of the same tvpe as the depository in default, investments - The City 's investment guidelines, as defined by the City Charter and its wr itten Investment policles, are a p proved by the City Commission. The pollcles established three Investment pools:
- 1) The General Op erating Pool, which covers all monies of the City not otherwise c l as s i f l ed and is i nc l uded in the above-ref erenced cash a nd Investment poo l; 2) the Sinking Fund Pool, which covers all monles set aside for the payment of pelncipal and Interest on the City's notes, bonds or other obilgations of Indebtedness; and 3) the Pension Fund Pool which cov er s all ronles of the City's pension f un d s.
According to the City Oiarter, the Clty i
Trea s ur er-Ci erk Is designated to Invest all rentes beleaging to the City pursuant to the policles approved by the City Commi ssion, except those rentes E ths Sinking Fund and Pension Fund Pools.
Montes in the Sinking Fund and Pension Furd Pools are I nvest ed under the auspices of the City Charter-created Sinking Fund Coernission, wh i ch consists of the five Clty Commissioners and three appointed members, tmder the pol!cles approved by the City Comisslon, the day-to-day Investment of al l monlos is managed tpf the City Treasurer-Clerk.
B-20
CITY OF TALLAHASSEE, FLORIDA j
NOTES TO FiNANC1AL STATEMENTS September 30, 1987 l
NOTE 111 - Wntinued)
The Pension Fund Pool may be invested in the General Operating Pool and/or any nationally
)
recogn i zed investment compa ny a pproved by the Sinking Fund Commission.
The fol lowi ng table Indicates the authorlzed Investment instruments for the General Operating and Sinking Fund Pools:
Gener al Sinking Operating Fund Rep ur cha se Agre ements.............
X X
Reverse Repurchase Agreements.........
X X
Certificates of Deposit.
X X
Banker's Acceptances..............
X X
Commecial Paper Rated A-1 by Standard & Poor's o r P-1 by Mood y 's...............
X X
U. S. Treasury 81 f is, Bonds or Pbtes......
X X
U. S. Go ve rnme nt Ag en c i e s...........
X X
Mar tgag e-ba cked Gover nmen t Ob i l ga t i on s.....
X Corporate Fixed Income Securitles rated at least A by Standard & Poor's or Maody's....
X Florida State Board of Administration Local Governments Surplus Funds investment Pool...
X X
in ad di tion to authori al ng Investment Instruments, the Ci ty 's pollClos also Identi f y varlous i
portfolio parameters addressing Issuer d i versi f icat ion, term to re t uri ty and llouldity and requires "purchase versus delivery" perf ection for secur f tles held by a third party on behal f of and in the name of the City.
Th e Ci ty 's investments for all pools are summarlzed and categ or ized as follows to give an Indication of the level of risk a;sumed by the City at Sept aber 30, 1987:
Ca tegory Carrying Market 4
1 2
3 Amount value Repurchase Agrements.. 5
- 55,000,000 1
! 5,000,000
$ 5,000,000 U. S. Government 99,284,600 95,348,700 Securities.......
97,966,700 M>r tgag e-ba cked 979,000 958,900 Obligations......
% 3,800 31,900,l00 30,639,800 U. S. Government Agencies 31,577,200 4,998,000 4,998,000 Banker's Acceptances..
4,998,000 32,917,900 32,914,200 Comrecc l a l Pa per....
32,917,900 Corporate Fixed Income i
34,482,700 33,083,700 Securities.......
33,790,500 209,562,300 202,945,300
$202,214,100 55,000,000 $
investment in Florida State a>ard of Administration Local Governments Surplus Funds investment Pool 16,300,100 16,300,100 inves tment i n mu t ua l f un d s....................
75,253,400 89,216,700 investment in guaranteed Investment contract 45,222.600 45,222,600 Total I n v es t me n t s........................ 1346,338,400 1353,682,700 8-21
l I
CITY OF TALLAHASSEE, FLORIDA f
NOTES TO FilWCI AL STATDIENTS I
September 30, 1967 NOTE 111 - (Continued)
Category 1 includes Investments that are Insured ' or reglstered or for which the securltles are held by the Clty or its agent In the Olty's name. Category 2 Includes uninsured and unreglstered Investments for which the secur ttles are held by the broker 8s or dealer's trust department or agent in the City's name.
Category 3 Includes uninsured and unreglstered Investments for which the securities are held ty the broker or dealer, or by Its trust department or agent but not In the name of tt s City.
The above-referenced "investment in MJtual Fund" consists of marketable eq ui ty securttles.
Between the end of the f i scril year and the report date, the stock vrerket has been extr eme ly volatile which has caused the market value of the Investment In the mutual f und to decrease by
$17,142,500. The decline in.narket values represents an unreall red loss of $3,179,200.
- 2. CHANGES IN GENERAL FIXED ASSETS Dur ing the fiscal year ended Septeober 30, 1987, the following changes In general f !x ed assets occurred :
Balance Balance October 1, September 30, 1986 Additions Deletions 1987
$ 6,920,000
. $ 5,7 54,800
$ 1,16 5,200 Land...........
Buildings.......... 11,043,200 134,000 930,100 20,247,100 Improvements Other Than 4,894,400 Bu l l di ng s..........
4,888,400 6,000 Eaulprent.
10,377,000 2,229,200 668,500 11,937,700 Conf.truction in Progress...
4,448,100 7,947,800 11,606,200 10,789,700
$46,511,500 511,482,200
$ 3,20 4,800 554,788,900 Construction In progress is composed of the following:
Expended to Req uired Project September 30, Fut ur e Authorized 1987 Com itted Fundlng Municipal Garage Expansion..
5 2,386,400 5
54,000
$2,332,400 Pene Downtown Mixed Use Project.
7,807,900 5,058,400 2,749,500 Pene Parks & Recreation Facilities 2,217,800 1,255,700 962,100 Pene Fire Stations........
536,900 157,000 379,900 Pene Ml scel laneous Projects....
2,792,500 2,100,800 691,700 tone Economic Development.
3,086,200 2,163,800 922,400 tene 118,827,700
$10,789,700 18,038,000, A sumary of proprietary fund type fixed assets at September 30, 1987 follows:
Enter pr i se Internal Servic e 5 6,977,000 1
44,400 Land....................
Structures and improvements........
41,947,800 562,800 321,574,800 1,898,300 Equipment.................
vehicles..................
8,044,200 13,848,900 Constr uct ion i n Progres s..........
52,890,700 Total..................
431,434,500 16,354,400 1.es s : A:cumu la t ed De prec l at ion......
134,145,900 7,655,400 1297,288,600
$ 8,609,000 Net...................
B-22
CITY OF TALLAHASSl'IE. FLORIDA NOTES TO FlMANCl AL S1 ATEMENTS September 30, 1967 NOTE 111 - (Continued)
A summary of f!xed assets for each Enterprise Fund as of September 30, 1987 1s as fol W s:
Electele Gas Sewer Water Air port Ta l tran _ _
Total Land....... $ 3,123,100 $
61,600 $
871,800 $
156,600 $
913,600 5 l,050,300 $ 6.977,000 Structures and improvements..
21,919,500 179,900 824,900 22,700 15,647,600' I 3,353,200 41,947,000 Equipment.
205,069,400 8,693,900 74,625,500 32,204,400 355,100 626,500 321,574,800 55,600 2,600 284,400 4,832,000 8,044,200 Vshicles.....
2,869,600 Construction In Progress....
40,733,400 454,100 6,617,300 1,354,100 3,201,000 530,800 52,890,700 Total...
273,715,000 9,389.500 82,995.100 33,740,400 20,401,700 11,192,800 431,434,500 Less Accumulated Depr(clation.
95,578,600 3,788,600 15,838,400 9,791,000 6,447,800 2,701,5CO - 134,145,900 kt......
1178,136,400 $ 5,600,900 167,156,700 123,949,400 $13,95J,900 $ 8,491,300 1297,288,600 8
LIA81LITIES 1
RETIREMENT COOIITENTS
- a. Defined Benefit Pension Funds - The City maintains four single employer defined benef1t poislon f unds covering firef lgeter s (one f und - Article IV) police of ficers (two f unds - Art icl e t i l and Ar ticl e V) and substantially all ot'ier full-time employees (nne f und - Article 11).
The Police Of ficers' Pension Fun d, Article V,
is closed to participafcA a nd I nvo l ves on ly ret ir ed lives.
Members of the remalning three funds are In one of two plans, depending upon employment date. All plans are cuatr i butory with the empl oyee con tr i but t on being either 55 or 71 of gross salory 4
depending on we lch plan the employee participates In.
trider the union agreenents, pollce of ficers i
and firefighters contributed only 65 for Fiscal Yea r 1987 vlth the City paying the additiona l 15.
Th is agreement wa s on ly fer one year and their contrlbutions return to 75 effect*ve October 1,
1987 Employee contributions plus Interest thereon at the rate of 65 is 1001 refondable if the employee elects to terminate his vesting rights or is not vested at the date of employment term!natten, in ad d !t ion, all plans are "quall f f ed plans" under the Inter na l Revenue Code, and 5
l thus, the employee contributions are tax deferred.
As of October 1, 1985 (date of the most recent actuartal valuation), selected actuarlal data for Flscal Year 1985 for each of the f unds Is as follows:
City Pollco Pollce Em pl oyee s' Of f icer s' Fi re f l gnter s' Officers' Pension Pension Pension Pension Article ll Article 111 Article IV Art 1cle Y Unf unded Actuarlal Accrued Liability
$17,141,500 1 1.931,500
$ 4,118,700 (68,400) l Recomended Cl*y Con +r ibutions...
$ 4,356,000 44),700 692,t00 Amounts as a Percent of Payrol1 13.0 8.6 16.3 Not Assets Avallable for Benetits..
160,429,900
$12,269,100
$ 12,503,800 236,100 Actur t a l Present Velve of
]
Accumulated Plan Benefits:
148,062,500
$ 9,589,800 1 13,6?c,700 1
167,700 Vested..............
1,893,800 243,600 203,200 J
Pen ves t ed.............
$ 49,9 56,300
$ 9,833,400
$ 13,823,900 1
167,700 l
B-2 3 i
b
'\\
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINAfCI AL STATDdENTS September 30, 1967 i
MOTE ii1 - (Cor i l b.
Definef Or.
lturf lun Funds /- The City maintains three single employer defined contr i but t on f un ds (a mat t.-
an nul ty p<ansion plan) fcr firefighters, police officers, and all other empl e.yees.
Empl oyees contr i bute a minimum of 2% of their compensation and ma/ elect to contribute additional amounts up,to an additional 55 for a total contribution not to exceed 75 of thole compensation. Employees may change the mounts of their additional contribution Nt may do so no more than 2 t imes in any 1 fiscal yea r.
These plans are also "Quallflod piensa under the Internal Revenus Code so ceductions are tax deferred.
Any participant vesting In one of the City's del-Ined contri but ion plans, upon reachino normal r et i remont age 'or any participant retiring un der one of thvAs plans, shall be pald his conte l but ions to 'rne matc*W annulty pension plan, together wi tt accrued earnings.
If the participant uses the ' contributions and accruej earnings to purctase e7 annuity contract, the plan
=lli Increase the amount of f unds so used by the participsnt 14 a f actor of 50 percent. Employee contributions plus accrued earnings theroon are 1001 re f unda ble if the enployse elects to terminate his wbting rights or is not ' <estM et the date of employment termination. The Clty shall contribute much ednts as are necessary to maintain actuarial ad eq uacy.
Selected data' lb Fi scal Year 1965 as of October 1,
1985 (date of most recent actuarial actuarial valuationi are as follows:
j City Police Empl oyee s' Of f icers' F1re f ighter s' Penslon Pension Pension Article 11 Article ill Article IV Unfunded Actuarlal Accrued Llability $ 2,388,900 433,200 1
272,500
/
Recommendul City Contributions,...
1 425,600 82,500 62,700 s
Amounts as a Percent of Payrol I..
1.3 1.6 1.5 g
Net Assets Avallable for Benefits.
$ 1,365,400 271,500 208,900 Pension expen se/expendit ures are determlnad based upon an actuarlal c.
Pensjon Funding valuation using the entry ag e normal method.
Th e actuarlaf valuation is performed at the beginning of the preceding fiscal year for the f otr de f f n ed bene f i t plans and the three defined contr i but ion plans and is used to determine the pension funding required dur ing the next budget year.
g Pension expens's locludes normal cost and amortization of pa st service cost over a 30-year period.
The City's polley (s to f und pension expense as determined by the actuarlal valuation. The rate of return used in determining the actuarlal present value of accumulated plan benefits was 7.05.
i Pensjon exDense/ expenditure of the respectlve City f unds for the year ended Se pt embe r 30, 1987, as determined as a percent of payroll, are as follows:
General Fund.
$ 3,825,400 Electric Fund.
I,141,100
\\
3ss Fund..........
100,700 Sever Fund.
395,700 water Fund............
196,700 i
)
)
Aleport Fund.
133,600 Ta l tr a n Fun d...
217,800 Internal Service Funds......
791,300 Total.....
$ 6,802,300 Administrative expenses are paid from %e earnings of the respective pension fu1d assets and are accounted for In the Pension Administration Fund.
)
B-24 i
l
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCI Al. STATENENTS September 30, 1967 NOTE Ill - (Centinued)
The City of Tattahassee offers its es toyees a def er red 2
OTHER EWLOYEE BENEFITS compensatlos piso created in accordance with internal Revenue Code Section 457,,
The plan,.
avallable to all City employees, permi ts them t J defer a portlon of their salary until future rears. The def erred compensatlon Is not avallt44e to estoyees until termination, retirement, death, or unforeseeable amergency.
All aMunts of compensation deferred under
+h.,
plan, all paeor.rty and rights purchased.Ith those amounts, and all Income attr!butable to TNe enounts, pecperty, or rights are (until peld or made avs11able to the employee or other banet klary) solnly the property and rights of the Cityi(vltfiout being resteleted to the provisions of 1:er.efits vadsr the plan), subject only to the claims of the City's general creditors. Participant's right unde-the plan are slutt to those of general creditors of the. City In an amount equal to 'r.a file market value of the deferred accoust f>r acti carticipant.
J lt !s the OJin1wa of the City's legal Counsel that the City has no llabllity for losses udder the plan but r,oes have the duty of due care that would b6 reautred of an ordinary prudent i nve stor. The City believes that It is unlikel) inat it' el li ese the assets to satisfy the clals of the renwal creditors In the future.
The Cl+y has c.,osen to have this plan acmi n is tered by an Independent plan administrator. By agreement between the employee and the Cly, an arranjenent has been Pede to have the appilcable portion of the emp l oy ee's cogensat:en deposited with the International City Ma nageme nt Associatlon Ret f romnt Corporation's ' ratlocal
- rust fund. Th ey w i l l I n vest and reinvest the money ed credit each account witr ear ongs from its investmerts.
3 OUTSTAWING CONTRACTS - The City has outstandl xJ commitments on verlous contracts for construc-tion and otner projects. These commitments, as of September 30, 1987, In the respective funds rre as follows:
Speclal Revenue Funda........
142,600 Capita l Project Funds,.......
1,244,900 Enterpelse Funds Electrie.........
4,808,600 726.600-Sewer
..t.~
water.....'...,,....
40,100 Aleport.
1,374,500 Taltran.........
160,400 Irtornal Service Funds.......
3,I,00 1
Total..
1 e,500,80J, 4 CHANGES IN *.use,-TERN DEBT c.
The foliselng 1s a summary of long-term debt transactions of the Ci ty for the year ended Sept ember SC, 198 7 :
AC Cru ed Revenue Specisi Loan Leave Ganeal Propri eta ry 8 s e<, s eve n t Pwable Payable Total 52,504,700 $163,4 55,200 Payable - October 1, Ic86 -
$20,c,05,000 $138,345,500 52,000,000 5 18,200,000 1,200,000 New l$ sue......
(5,420000) u,%0,000)
(7,425,000)
Ratt red.
1,118,000 1,118,000 Bond Accrettos......
(224,500)
(224,500)
Nst Change In Accrued Lowe
~
=
Payable - Septeeet- ;0, 19u7 E0@,000 _17 34,038,500 h S h 2002.f $2 J 0,200 1175,??3,70 0 l
a-25 9
CITY OF TALLAHASSEE, Fl.ORIDA NOTES TO FIMMCI Al. STATEMENTS September 30, 1987 NOTE Ill - (Continued) b.
Sumar tzed below are the City's Individual bond issues which were outstanding at September 30, 1987:
General revenue bonds 120,605,000 Capital Ref unding Bonds - Serles 1984, due in annual Installments of $540,000 to 1,050,000 from Ck:tober 1,1994 to October 1, 2006 with a term payment of $13,765,000 due October 2007, Interest at 11.05f.
In addition, the City is required
[
to make semi-annual sinking fund Investment purchases of $986.500 to 11,780,200 frca %vember 15,1984 to May 15,1993, in order to provide for the term payment due October 1, 2007 1 20,605,U00 Propetetary revenue bonds 193,290,100 Junior Lien Electric Ref unding Revenue Bonds Series 1985, due in annual Installments of 12,899,800 to 18,130,000, October-1, 1991 through October 1, 2007, at an effective average interest of 9.341, Ebnds stated at f ace amount plus accretion o f $2,138,400.
5 95,428,500
$ 19,64 0,000 Senior Llen Electric Revenue Bonds - Series 1985-A, due in annual Inste iments of 13,305,000 to 16,115,000, October 1, 1987 through October 1,1990, at an of f ective average Interest of 7.26(.
15,165,000 17,300,000 Municipal Utility Revenue Ebnds - Series 1970, due In annual installments of 150,000 to $700,000 through October I, 1996, Interest at 5.95 5,275,000 13,150,000 Mun i c i pa l Ut i l i ty Reven ue Bon d s - Ser i e s 1970A, d ue i n annual Installments of $50,000 to 1300,000 t hrough October 1, 2001, interest at 5.5f.
1,975,000 112,000,000 Municipal utility Revenue Ebnds - Series 1979, due In an nual installments of $175,000 to $1,785,000 through October I, 2001, Interest at 5.95.
10,645,000 56,000,000 Mun i ci pa l Ut i li ty Revenue fbnds - Series 1982, due in annual Instal lments of 5100,000 to $675,000 from Octob" 1, 1984 to October 1, 2003, interest at 8.725 5,550,000 1134,038,500 l
B-26
CITY OF TALLAHASSEE, FLORIDA NOTES T3 FallANCIAL STATENENTS September 30, 1987 c.
Schedule of Principal Regulrom>nts Year End!ng General Proprietary Revenue Loan September 30 Revenue Electric Gas Sewer Water Payable Total 1988 5
1 5,745,000 5 9,000 5 704,200 5
296,800 5
5 6,755,000 1989 6,115,000 9,500 747,000 318,500
.7,190,000 1990' 3,305,000 10,000 793,100 336,900 4,445,000 1993 4,590,000 11,000 858,600 360,400 5,820,000 1992 4,935,000 12,000 909,100 373,900 6,230,000 1993 5,315,000 13,000 993,600 408,400 6,730,000 1994 540,000 5,735,000 13,000 1,032,400 439,600 7,760,000 1995 590,000 6,200,000 14,000 1,116,900 474,100 8,395,000 1996 650,000 6,735,000 14,000 1,170,700 515,300 9,065,000 1997 710,000 5,795,000 1,291,900 463,200 8,260,100 1998 785,000 4.815,000 1,387,300 502,700 7,490,000 1999 860,000 5,245,000 1,486,600 543,400 8,135,000 2000 173,000 5,715,000 1,593,600 586,400 8,068,000 2M1 156,100 6,235,000 1,704,400 630,500 8,726,000 2002 140,400 6,815,000 375,000 250,000 7,580,400 2005 126,600 7.445,000 405,000 270,000 8,246,600 2004 113,900 8,130,000 8,243,900 2005 945,000 3,545,400 4,490,400 2006 1,050,000 3,902,500 4,952,500 2007 13,76 5,000 4,295,600 18,060,600 2016 18,200,000 18,200,000 520,605,000 5110,59 3,N)0 5 105,500 516,569,400 5 6,770,100
$18,200,000 5172,843,500
?
CITY OF TALLAHASSEE, FLORIDA
,?
as0TES TO Ff 8M8CI AL STATEMEstTS September 30, 1987 o
e d.
Schedule of Debt Service Requirements, including Principal and Interest Year Ending General Proprietary Revenue Loan September 30 Revenue Electric Gas Se.er Water Peyeble Total 1988 5 2,080,600 5 14,032,300 5 15,100 5 1,751,000 5
744,100 5
978,300
$ 19,601,200 1989 2,080,600 14,028,900 15,000 1,750,300 747,700 978,100 19,600,600 1990 2,080,600 10,803,100 14,900 1,751,800 747,300 978,800 16,375,800 1991 2,080,600 11,856,700 15,300 1,769,900 750,300 978,500 17,450,900 1992 2,080,600 I I,857,400 16,000 1,768,500 741,600 978,300 17,442,200 1993 2,080,600 11,857,400 16,000 1,797,500 752,800 978,100 17,482,200 1994 2,620,600 II,857,500 15,200 1,774,500 757,800 978,500 18,003,700 1995 2,619,300 II,858,000 15,400 1,793,100 763,800 978,300 18,027,700 19 %
2,622,700 11,858,400 14,600 1,776,500 774,000 978,800 18,024,300 1997 2,619,300 11,853,800 1,833,500 690,700 978,300 17,975,400 1998 2,624,000 11,855,900 1,847,400 699,200 978,100 18,004,600 1999 2,620,500 11,857,400 1,857,900 705,600 978,100 18,019,500 2000 2,620,300 11,855,300 1,869,300 711,300 978,300 18,034,300 2001 2,621,700 I I,855,200 1,875,900 714,500 978,300 18,045,400 2002 2,620,200 11,858,500 434,500 289,700 978,300 16,181,000 2003 2,620,600 I I,858,100 430,800, 287,200 978,100 16,174,800 2004 2,619,500 11,854,500 978,100 15,452,100 2005 2,689,500 11,857,400 978,300 15,455,000 2006 2,624,300
?l,855,000 978,100 15,457,200 2007 15,227,500 11,852,300 978,300 28,057,900 2006 -2016 26,758,400 26,758,400 563,783,400 1240,425,100 1 137,500 126,062,200 110,877,600 546,320,400 5 385,624,200
l CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATENENTS September 30, 1967 NOTE 111 - (Continued) e.
Refunded issues - The City has a number of bond issues which bear its name and which, subsequent to the orlginal issue have been ref unded. The following schedule reflects the ref unded bonds as of September 30, 1987 (fully funded escrows have been placed in an Irrevocable trust for each, to pay the principal and Interest, when due, to the ear llest call date or to maturity and at that point to ellmlnate the then outstanding principal thereof):
Outstanding as of Type Serles Sept ember 30, 1987 General Revenue 19 73 5 18,850,000 1978 38,800,000 1981 23,800,000 Munlcloal Hospital 1967 1,100,000 Municloal Electric 19 59 350,000 1963 840,000 1964 3,600,000 1969 6,400,000 1972 17,300,000 1977 94,710,000 1982 19,850,000 5225,600,000 f.
Loen Payable - On November 18, 1986, the City obtained an 518,200,000 loan from the Sunshine State Governmental Financing Commission, the proceeds of whlch were used to retire an outstanding Special Assessment note and to finance construction of certain water and sewer projects. The rate of Interest on the loan will va ry based upon market Interest rates for short-t erm tax exempt f!nancing. The loan Interest rate 47 Septeber 30, 1987 was 5.375 The accompanylnq debt ser vic e schedule was prepared ut111:Ing the Interest rate at September 30, 1987 The loan is non-project speelfle (as long as designated projects are appropelate under Florida Law and will not cause the loan, If considered as a separate bond Issue, to be In vlolatlon of appilcable IRS guldelines) and non-revenue spect fle (a covenant to budoet and appropelate for non-advalorem revenues exists).
The loan has been allocated as follows: general government (52,022,000, wi th the primary source of debt service being collections of special a sses sment recelvables); water fund (57,483,700, with the primary source of debt service belng water operating revenues); and sewer fund (58,694,300, with the primary source of debt service being sewer operating revenues).
The loan Is due to be repaid at July 1, 2016; however, earlier repayment is allowed under ths terms of the loan, g.
Bonds Authorized but Unissued - in August 1987, the City Commission authorized the issuance of 518,000,000 Aleport System Revenue Bonds and $ 10,000,000 Special Purpose Facility Airport Revenue Bonds. The Bonds are to be used for the construction and acquisttlon of additions, extensions and improvements of the City's Aleport, it Is anticlpated that the Bonds will be lssued during fiscal year ended September 30, 1988 B-29
CITY OF TALLAHASSEE, FLORIDA IIDTES TO FileMCIAL STATDIENTS September 30, 1987-NOTE 111 - (Continued) 5.
ACatuED LEAVE Accrued Leave consists of the following at September 30, 1987:
1 Accrued Accrued vacation Sick Leave Total Enterpelse Funds Electric.....
$ 545,700 497.700 11,043,400 Gas........
45,300 34,200 79,500 Sever.......
168,200 I19,400 287,600 wter.......
65,900 70,200 136,100 Airport..
73,000 88,500 161,5v0 Taltren......
91,500 41,800 133,300 Internal Service Funds 372,200 269.200 641,400 General Long-Term Debt 1,228,800 1,05l,400 2,280,200 Total 12,590,600 5 2,172,400
$4,763,000 i
C.
INTERFlse RECEIVABLES AIO PAYABLES l
Such belances at September 30, 1987 were Interf und Interf und Fund Receivables Payables l
0enerai...............
s i4i,300 Reading, Billin9 and Collection.
45,200 Air por t.
1,000 Tallahassee Transit.
2,900
$45,200 545,200 I
B-30
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINMCI AL STATD8ENTS September 30, 1987 NOTE 111 - (Continued)
D, FUIO EQUITY 1
CHANGES IN RESdRVED RETAIED EARNINGS - ENTERPRISE FUDOS For purposes of this presentation, the Tallahassee Translt Fund and the Aleport Fund have been combined. As o f Se ptemoer 30, 1987, the Reserved Retained Earnings for the Tallahassee Transit Fund and the Airport Fund was
$63,300 and 13,188,700, respectively.
The following changes occurred in reserved r eta in ed earnings of the enterprise funds during the year ended September 30, 1987:
Tallahassee Total Transit and Enter pe l se Electric Gas Sewer Water Ale port Funds R3ssrvsd Retained Earnings-October 1, 1946:
$17,398,900 Ravenue Bond Reserve...... 514,804,500 5 75,500 $ 1,883,300 $ 635,600 $
14,000 14,000 Rsysnue Bond Debt Service...
Revenue Bonds Renewal and 31,868,700 Rsplacement.
20,982,600 2,976,600 5,816,200 2,093,300 6,349,800 3,427,800 34,035,000 Revsnue Bonds Construction... 24,257,400 1,654,500 1,421,400 233,100 Line Extension and Depreclation 1,833,600 1,833,600 Renewal and Replacement....
835,500 8,428,200 Ot her.............
7,434,600 158,100 Total - October 1, 1986.... 167,479,100 $ 3,066,100 $15,628,800 56,389,800 1 2,669,100 195,232,900 Add income Earned on Restricted Asssts............
1,854,100 225,800 1,521,800 917,700 708,400 5,227,800 15,700 Trans f ers f rom Other Funds...
15,700 500,000 Advance from Other Funds....
500,000 Debt Service Funding...... 13,042,900 13,300 2,094,300 1,075,600 16,226,100 Renewal and Replacement Funding 14,671,200 450,000 1,325,000 1,318,400 554,900 18,319,500 272,700 l
Incesase In Other Reserve...
67,400 82,100 123,200 I
Ni scel laneous Revenue.....
1,244,400 767,800 365,500 2,377,700 Loan Proceeds.........
8,598,200 7,401,600 15,999,800 Deduct (5,425,000)
Paymsnt of Ebnd Principal (4,475,000)
(31,000)
(639,500)
(279,500)
Trans f er to Other Funds....
(6001 (600) interest and Fiscal Charges.. (8,567,900)
(17,400) (1,486,100)
(806,500)
(10.877,900)
Trans fer of Fixed Assets a nd E x p en s e s......... ( 15,329,200)
(606,500) (4,664,300) (1,788,700)
(680,400) (25,069,100)
Net increase In Reserved Retained Earnings........
2,507,900 115.700 8,032,900 8,327,300 582,900 19,556,700 169,987,000 13,181,800 12 3,661,700 $14,717,100 $ 3,252,000 5114,799,600 Raserved Retained Earnings-
$sptember 30, 1987:
Ravenue Bond Reserve.....
114,804,500 $
75,500 1 1,883,300 5 635,600 $
-- 1 17,398,900 Revsnue Bonds Renewal and Replacement.
28,408.200 3,024,200 6,402,900 2,106,700 39,942,000 j
Revenue Bonds Construct ion... 17,473,500 4,304,200 3,470,200 25,247,900 Line Extension and Depreciation 1,232,400 608,900 1,841,300 Renewal and Replacement..
2,418,900 2,418,900 Other 9,300,800 82,100 832,100 123,200 460,600 10,798,800 Con s tr uct ion.
372,500 372,500 Sunshine State Construction.
9,006,800_
7,772,500 16,779,300 Tota l - Sept ember 30, 1987 169,987,000 $ 3,181,800 123,661,700 114,717,100 1 3,252,000 1114,799,600 B-31
CITY OF TALLAHASSEE, FLORIDA NOTES TO FiltuCIAL STATDIENTS September 30, 1987 NOTE Ill - (Continued)
The following is a description of each reserve Revenue Bond Reserver i
{
Estabilshed in conjunction with the issuance of Revenue Bonds and are f unded by initlal deposits fr om the proceeds of such revenue bonds. The reserve is to maintain, at all t imes, as long as the bonds are outstanding, an amount equal to the maximum debt service due in any ensulng fiscal year.
Revenue Bond Debt Servicer Established in conjunction with the issuance of revenue bonds and are f unded by initial deposits from the proceeds of such r even ue bon ds and by transfers f r om the r even ue accounts of the appropriate enterprise funds.
The use of reney is restricted to the payment of Current bond service requirments, r
Revenue Bond Renewal and Replacement:
Established in conjunction with the issuance of revenue bonds and are f und ed by transfers.fr m the revenue accounts of the appropriate enterpr i se funds.
The use of mon ey is restricted to
{
f unding the cost of extensions, enlargements or additions to, o" replacement or emergency repair of capital assets, i
Revenue Bond Construc+1on t l
Established in conjunction with the issuance of revenue bonds and are funded by initial deposits frm the proceeds of s uch r even ue bonds and i nves tment earnings.
The use of the mon ey is restricted to the acquisition of construction of projects as Indicated in the appropriate Bond Resolution, i
I Line Extension and Depreciation:
Reserve is funded through the collection of water and sewer system charges. The use of money is restrleted to extensions, expansions, improvemnts, and renewals and replacements of the City's water and sewer systems.
Ot her t Other reserves have been established by Commission action for specified purposes.
1 I
l B-32
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINAfCIAL STATEMENTS September 30, 1987 NOTE Ill - (Continued) 2.
RESERVED FLSO BALAICES A80 RETAllED EARNINGS
- 1) Governmental and Expendable Trust Funds - Reserved fund balances Indicate those portions of fund balances that are legally s egregat ed for a specific use or not available for appropelation or expenditure. The nature of these reserves are as follows:
September 30 1987 1986 General Fund - Reserved for:
Ad va nce to Ot her Fu nd s..................
1 25,900 1
25,900 35,100 Inventory.....
43,200 29,000 Law En f orcenent.
Pet e Rece i vab l e......................
15,000 En cum br a nce s.......................
1,0 %,300 1,866,(00 1,215,500 1,920,900 Total General Fund...................
Special Revenue Fund - Reserved fort Pr oj e c t s.........................
27,300 21,500 m t e s R ece i va b l e,....................
131,400 49,100 Corwunity and Rehebilitative Trust.
27,000 24,900 Tot a l Spec i a l Reven ue Fun d........
185,700 95,500 Debt Service Fund - Reserved Nrt Current Debt Service...................
395,500 401,300 Fut ur e De bt Se r v i c e.........,
6,430,100 5,237,000 6,825,600 5,638,300 Total Debt Service Fund.................
Capital Projects Funds - Reserved fort 60,000 Advance to Other Funds..................
En c um br a n c e s.......................
2,397,100 3,531,600 Pr oj e c t s.........................
21,600,500 16,107,300 Total Capital Projects Funds..............
23,997,600 19,698,900 Expendable Trust Funds - Reserved for:
Advance to 0*her Funds..................
500,000 En c tn br a n c e s.......................
6.900 10,100 St ad ium leprovements...................
45,300 41,500 St a d i um Oper at i on s....................
13,800 11,000 Tota l Expenda ble Trust Fun ds..............
566,000 62,600 To t a l.........................
132,790,400 127,416,200
- 2) Internal Service Funds - Reserved retained earnings are restricted to Ind!cate f unds obilgated as follows:
1 Reserved for:
1 3,036,200 1 4,046,100 Fleet Managernent Projects........................
1,711,000 1,549,900 1 4,747,200 1 5,596,000 Total..........
B-33 1
CITY OF TALLAHASSEE, FLORIDA NOTES TO FileMCIAl. STATDGENTS September 30, 1987 NOTE 118 - (Continued)
- 3) Pension Trust Funds - Fund Balance is reserved to Indicate f und equity restricted for f uture benef f ts to members of the pens!on plans as follows:
C i ty Emp l oyees ' Pen s i on - Ar t i c l e I I.............
5 87,100,000 167,802,900 Po l ic e Of f icer s ' Pen s io n - k t ic l e 111............
17.547,600 13,625,200 17,893,000 14,032,800 Firefighters' Pension - Article IV.
Po l ic o Of f i cer s ' Pen s l on - Art ic l e Y,............
249,200 244,300 C i ty Emp l oy e es ' De f i ned Con tr i bu t i on - Ar t i c l e l l.......
4,432,500 2,902,200 h i l c e of t t cor s ' De f i n ed Con tr i but io n - Art i c l e I l l......
865,600 557,200 698,000 450,100 Fireflghters' Defined Contribution - Article IV.
Total..........................
1128,785,900 199,614,700 3.
DESIGeATED Flss BAIANCE The City has established the following designations of fund bataice ulthin the Deficiencies and Emrgencies Fund (an Expendable Trust Fund type):
A 1993,800 designation of f unds for annexation related front-ending of exp end i tur es.
A $70,500 designation of f unds to cover the City's contributlon of $35,250 in fiscal year 1989 and 1990 to the Housing Development Corporation. The Housing Development Corporation is a pelvate not for profit corporation established to provide low cost hous!ng.
A 11,750,200 designat!on of funds for Sanitation. The City currently has a contract with a private compa ny to provide residential sanitation services in the r ecen t ly ann exed areas.
The City has deslonated these funds for purchase of vehicles should thls contract be terminated and the City decides to provide this service.
i 1
B-34
1 CITY OF TALLAHASSEE, FLORIDA NOTES TO FINAM l AL STATEMENTS September 30, 1987 i
NOTE IV - FiNANCI AL SEGENT lNFGetATION OF ENTENRISE FUIOS Ths City maintains s1x Enterprise Funds wh ich provide electric, gas, sew er, water, airport and mass transportation servlees. Segment Information for the year ended September 30, 1987 was as follows:
Tallahassee Total Electric Gas Sever water Alrport Transit Enterprise Fund Fund Fund Fund Fund Fund Funds Operstlng Rev$nu es....
1114,703,200 1 8,721,000 $ 11,4 59,9 00 1 8,184,700 1 4,254,300 1 1,319,500 $ 148,642,6 00 Deprselation and Amort iz at ion Expsnse.....
$ 8,171,600 $
224,300__ $ 1,8 56,700 1 655,300 $
596,800 5 552,900 $ 12.057,600 Operating income or (Loss).
1 39,604,900 5 1,307,700 $ 1,403,500 $ 3,171,600 1 413,800 5(2,684,400) $ 43,217,100 Opsrating Transfers:
5 1,507,700 5 1,532,000 In......
1 500 1 5,300 1 16,200 $
2,300 1 Out..
$ (2 3,878,000) $ ( 1,090,800) $ (597,800) 1(1,517,400) 1 (324,500) 1 (62,000) $ ( 2 7,470,30 0)
Nat Income or..
(Loss) 5 13,806,000 1 389,300 5 2,164,900 1 2,269,600 1 806,300 $ (739,200) 1 18,696,900 Current Capital:
1 8,0 %,300 1 131,900 $ 8,228,200 Contr!butions..
5 1
- 5 1
$122,711,600 Ristricted Assets 1 70,438,400 $ 3,181,800 $23,74 8,500 $14,7 5 4,300 $10,588,600 5 2
Fired Assets (Cost ):
Additions...
5 7,496,700 $
386,600 1 2,535,000 1 1,829,900 $
112,800 $
244,700 1 12,605,700
$ (432,600) 5 (1,357,300)
Oslations...
1 (899,500) $
(800) $
(6,30 0) $
(18,100) 1 Nat work 1ng Capital.
1 14,025,600 600,400 1 809,900 $
585,700 1 760,900 5 1,206,700 1 17,989,200 Total Assets...
$27 5,202,300
$t0,004,500 $92,131,500 $39,881,700 $2 5,490,700 1 9,766,100 1452,476,800 I
Bonds and Other Long-term LlaD111-ties: Pay able 4
from Opcrating 1150,216,500 1
j Reve nu es...
1110,593,500 1
105,500 $ 2 5,26 3,7 00 114,253,800 1
~l Total Fund Eaulty 1152,800,600
$ 9,198,100 164,401,400 123,773,600 $24,938,000 $ 9.557,400 $ 28 4,669,100 B-35
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30, 1987 NOTE Y - RELATED PARTIES A - JOINTLY OWED ELECTRIC UTILITY PLANT I
The Electric Utility Fund's coned resources for suppf ylng electric power and energy requiremoets Include its 1.33335 undivided ownership I nterest In the Crystal River Wit 3 !CA3) nuclear power plant operated by Florida Power Corporation. 013 revenue and operating maintenanca costs, which represents the Electric utility's part of all revenue and expenses attributable tcr overr+1on [
CR3, are properly recorded in accordance with the Instructions as set forth in the Un/ form Jystet of Account s.
Payments are made to Florida Power Cor porat ion In accordance vita t*e CR3 participation agreement.
Condensed financlal Information is not available relating to the power plant.
Inc l uded within the Electric Fund's "Reserve for Other" is approxjmetely $1.7 million sat aside for the City's share of the costs associated with the decorvilssioning of to nuclear powe plant.
The plants deconnissioning is anticipated to occtr in 2008 B - SUNSHlNE STATE 00VDttesENTAL F1NANC1NG CapetiSSION in tvember 1985, the Cities of Tallahassee and Orlando, Florlds, t hroQh an int (r iow l agreement, created the Sunshine State Governmental Financing Commist ler (the C3mmleston) -htch was developed as a pooled financing vehicle to allow for a l imited %stoer of hioh quallt/ t.orida n? la w, e rare financlig loc al governmental un its (cities and counties) to join together 1,1 a pr ogr am.
On July 16, 1986, the Commission issued $300,000,000 in variable Rate Lo u '-Term 84nds supported by a letter of credit from three major Japanese banking letitutions.
The proceeds of the bonds are being us ed to prov i de loans to sei sc ? eu go ve'n4n t a ? un i t s acceptable to the banks, which have an A (or better) credit ratlnj. trdi v idual lear,5 sq be for a term of up to 30 years, with or without pr i nc i pa t anort i zat ion.
Each partichcant's Ichn wie i bear Interest at an ef fective blended rate and the participant is responsible for paying N the ISth of each renth for the preceding renth, initial loans from the Commission must be taken down prior to July 1,1988 and any proceeds stils in the loan account not lent as of July 1, 1988 will be called at that time.
All of the excess Interest earnings derived trem the various accounts of the Connission pelor to July 1, 1988, will be held and available to make up the non-asset bonds (tne original issuance cost of $ 3,300,000 r ed uc ed by 1.15 of each loan) or the bonds at that time.
To the extent that there are excess Interest earnings available for distributton as of July 1, 1988, the earnings will be distributr J to the participants based on a formula which recogn izes the timing of their entry into the progem and the size of their loan.
As of Septeber 30, 1987, applications received tecn governmental units exceed the amount of tna bond proceeds.
Ac cord i ng to the interlocal ag r eement, each participating governmental unit appoints a representat ive to the Commission.
These r e presentat ives elect a Eberd of Olrectors whic% is responsible for the administration of the program. As of September 30, 1987, the Board consis W of one representative from the City of Vero Beach, two representat ives from the City of Orlanto, and two representatives frcn the C!ty of Tallahassee.
The City of Tallahassee has no obilgation or risk associated with the Commission other then tt.e repayment of its le,an from the Coanission (See mte III.4.F).
B-36
CITY OF TALLAHASSEE, FLORIDA NOTES TO FileMCIAL STATEMENTS September 30, 1967 NOTE VI - CONTINGENCIES A.
Litigation The City is involved in pending lawsuits. The City Attorney estimates that the potential claims against the City not covered by Insurance resulting frca litigation would not materf ally af foct the financial position of the City, i
B.
Federal Grants Th e Ci ty participates in a number of f ed eral ly assisted programs, pr incipa l of which are the Environmental Protection Agency 201, General Reven ue Sharing, trban Mass Trans portat ion Authority, Coeveunity Development Block Grant and the Federal Aviation Authority programs. Th ese progr ams are s ubject to the progr am compilance a udi ts ty the grantees und er the Office of Management and Budget Circular A-128.
Th e audits of these programs for or including the year ended Sept ember 30, 1987 will be issued under separate re por t.
The amount, if any, of expendi tur es which rey be disallowed by the granting ag enc les is fmaterial to the City's Combined Financial Statements.
1 i
D i
1 1
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i B-37
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~
a-m A-J 4-
=
b-L-au,--4 2
naU.r-u--
nm 2
A THIS PACE INTENTIONALLY LEFT BLANK t
]
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+-g_---
l 1
COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP-STATEMENTS AND SCHEDULES These financial statements provide a more detailed view of the "General Purpose Financial Statements" presented in the preceding subsection.
Combining statements are presented when there are more than one fund of a given fund type.
GOVERNMENTAL FUNDS GENERAL FUND SPECIAL REVENUE FUNDS DEBT SERVICE FUND CAPITAL PROJECTS FUNDS GENERAL FUND The General Fund accounts for all financial resources not properly ac-counted for in another fund. Revenues and expenditures of the Federal i
Revenue Sharing Program are accounted for in this fund.
CITY OF TALLAHASSEE. FLORlDA GOGAl. FUIC BAUWCE SEET i
September 30 1987 1986 ASSETS Cash.
41.300 75,200 Equity in Pooled Cash..
2,946,400 4,027,100 Receiva bles:
Cu s tome r s.......................
966,300 669,300 Accounts........................
708,900 307,500 Note..........................
15,000 Less: Allomance for Doubtful Accounts.........
(74,400)
(48,300)
I Advance to Other Fund 25,900 25,900 in ven tory.
35,100 To t a l As se t s.....................
14,664,500
$5,056,700 LI ABILITIES APO FUPO BALANCE Llabilitiest i
Accounts Payable.
$ 170,900 1 233,000 l
Due to Other Funds...................
41,300 75.200 Total Llobilities..................
212,200 308.200 j
1 Fund Balances Reserved fort I
inventory...
35,100 25,900 25,900 Ad vance to Other Fund..
Law En forcenent 43,200 29,000 tte Recelseble.
15,000 Encumbrances......................
1,0 %, 300 1,866,000 Total Reserved..
1,215,500 1,920,900 Un reserved /Und es ig nated.
3,236,800 2,827,600 Total Fund Ba l a nc e..
4,452,300 4,748,500 Total Liabilities and Fund Balance.
14,664,500 15,056,700 4
i l
I J
J J
The accompanying notes are an Integral part of these financial statements.
C-1
CITY OF TALLAHASSEE. FLORIDA General Fund Schedule of Revenue F1 scal Year Ended Septseber 30 1987 1986 Actual on vsrIance-Budgetary Favorabl e Budget Ba s i s (Unfavorable)
Ac t ua l Taxes:
g Ad valorem.
5 5,658,200 $ 5,500,000
$ (158.200) 15.140,700 General Sales and Use Taxes:
Local Option Gas Tax.
I,910,200 1,801,600 (109,600) 1,641.500 Local Alterna71ve Fuel User Fee............
2,200 2,200 1,600 Public Service Teres:
4 El ectr ic i ty 3,900,000 4,$35,500 635.500 4,146,000 Telephone.........
1,035,000 971,800 (63,200) 1,000,100 517,000 443,700 (7),300) 421,000 wa ter.
Ce s............
390,000 284,300 (105,700) 266,300 Propane.
140,000 131,400 (8,600) 125,900 Franchise Fees:
1 Telephone.........
522,000 487,200 (34,800) 507,300 Cable Television.
187,000 222,400 35,400 193,300 l
Total Taxes.......
14,259,400 14,300,l00 120,700 13,443,700 Licenses and Permits:
Or. cu pa t i on a l........
550,000 558,500 8,500 708,500 Bu i l d i n g Perm i ts......
400,000 438,900 38,900 394,000-Total Licenses and Permits 950,000 997,400 47,400 1,102,500 Intergovernmental Revenuel Federal:
Revenue Shar ing......
12,000 12,000 663,100 State Seared Revenues Local Government 1/2 Cent Sa l et 'a u.
3,130,500 3,386,200 255,700 2,809,000 Two-Cent Cigarette Tsw..
360,000 308.500 (51,500) 296,800 Revenue Sharing......
3,575,200 3,786,100 210.900 3 $18,100 Moblie be Licenses...
25,000 37,600 12,600 34,500 Alcoholic Beverage License 81,000 75,600 (5,400) 80, 1 03 Publ i c Sa f e ty t Firef igh ters' Suppl eental Compensation.
6,000 20,500 14,500 9,700 County:
City Share of County occu.
pational Liconses.....
AO,000 83, 700 3, 70 0 89,700 j
Total in tergovernmen ta l Revenue.........
7,257,700 7,710,200 452,500 7,501.000 C-2 The accompanying notes are en integral part of these f(nonclat statemenh.
e-
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a i
I l-CITY OF TALLAHASSEE, FLORIDA General Fund Schedule of Revenue (ContIneed)
FI scal Year Ended September 30 1987 1986 Actual on Ver lance-Budgetary
. Favorable Bud get Basis (Unfavorable!
Ac tiss i Charges for Services General Government Charges t Zoning Fees........
45,000 41,000 (4,000) 26,700 County for Planning Dept.
372,900 359,800 (13,100) 261,900 Sale of Ci ty Code Books..
1,200 1,600 400 3,000 Public Safety Charges:
Nilee Services......
24,000 34, 80 0 10,800 20,000 County f or Fire Protection.
1,291,900 1,291,800 (100)
I,213,000 Ph ys ic al Envirorment Chargest Solid Weste Revenue....
5,355.500 4,940,400 (415,100) 3,228,700 32,700 Cecetery Fees.......
Lot PtsIng and C1 earing.
5,500 5,500 5, 80 0 200,000 County for Drainage....
200,000 200,000 Transportation Charges:
Perking Facility.
310,000 379,000 69,000 288, 700 Traf fic Signal mintenance.
7,500 5,900 (1,600) 3,700 Parking Meter Receipts...
110,000 194, 000 84,000 106,000 Human Services Charges An ima l Shel ter Fees....
62,000 61,200 (800) 62,000 Parks and Recreation:
Pr ogran Ac t iv i ty Fe es...
375,000 337,200 (37,800) 307,600 Golf Courses........
788,500 693,900 (94,600) 561,700 So Imm i ng Pool s.......
50,000 33,300 (16, 700) 39,400 46,200 21,800 (24,400) 50,000 Other.
County for Parks and i
Recreation........
207,900 208.200 300 199,200
)
l Total Charges for Services 9,247,600 8,809,400 (438,200) 6,610,100 Fines and Forfeiturest Traffic Fines.
225,000 331,300 106,300 240,700 Parking Ylolations.....
305,000 391,500 86,500 322,700 Police Education 52.00...
23,000 29,100 6,100 28,200 Total Fines and Forfeitures 553,000 751,900 198,000 591,600 i
I The accowanying notes are en Integral part of these financial statements.
C-3 i
CITY OF TALLAHASSEE, FLORIDA -
General Fund Schedule of Revenue (Continued) l Fiscal Year Ended september 30 1987 1986 Actua l on var iance-Budgetary
- Favorable Bud ge t Ba si s (Unfavorable)
Ac t ua l Miscellaneous Revenues In terest 307,000 298,400 (8.600) 503.200 Rents and Royalties.....
175,400 246,100 70,700 189,000 Rec ove red Co s t s.......
247,400 364,000 116,600 359,900 t
Sales:
Ceetery Lots.......
85,000 90,700 5, 70 0 84, 700 Surplus Traf fic Meterials.
10,000 9,400 (6001 9,500 32,900 Surplus Property.
Other.
66,000 110,600 44,600 194,200 Total Mi scellaneous Revenue.........
890,800 1,119,200 228,400 1,373,400 Total Revenua.
533,158,500 533,768,200 1 609,700 130,622,300 l
1 l
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i
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i C-4 The acco p enylmq notes ero en integral part of these financlel statements.
1
. ~.
i CITY OF TALLAHASSEE, FLORlDA GUERAL FLNG SCEDULE OF OrDeiTURE$
t Fi scal Year Ended September 30 1987 1986 Verlance-Budgetary Favorabl e Budget Basis (Unfavorable)
Ac t ual Actual General Governnent:
Legt si atIvo
+
City Comission Personal Services......
$ 142,500 $
135,100 7,400
$ 135,100 $
98,300 1
Other Operating.......
44,500 41,900 2,600 42,300 37,200 300 Ca p i ta l Out l ay........
Total Legislative.....
187,000 177,000 10,000 177,400 135,800 Ex ecut ive City % nager Personal Services......
423,600 417,000 6,500 417,000 381,600 -
Ot h er Op er a t i n g.......
91,700 92,100 (300) 91,000 67,600 Capital Outlay.
3,000 2,900 100 1,200 1,000 Total Execut i ve......
518,300 512,000 6,300 500,200 450,200 l
Financial end Administrative l
Treat ur er4f erk Personal Services......
274,600 272,000 2,600 272,000 232,400 Other Operating.......
75,900 76,600
( 700) 74,600 66,100 1,200 9,300 Capital Outlay.
1,200 1,200 351,700 349,800 1,900 347,800 307,800 l
1
%nagement and Budget Personal Se rv i c es......
598,600 503,400 95,200 503,400 385,000 Other Operating.......
163,500 123,600 40.000 122,900 110,500 Ca p i ta l Out l ay........
2,500 100 2,300 8,300 1,700 764,600 627.100 137,500 634,600 497,200 j
Records %nage<wnt j
Personal Ser v i c e s......
117,800 106,500 11,300 106,500 136,700 Ot h er Oper a t i n g.......
122,500 115,600 6,900 114,900 106.200 l
240,300 222,100 18,200 221,400 242,900 Comun Icat ion l
Personal Services......
257,700 266,700 (9.000) 266,700 204,800 Ot her Op er a t i n o.......
75,700 68,700 7,000 61,400 61,300 Capital Oat t ay.
9,400 8,800 600 8, 80 0 16,700 342,800 344,200 (1,400) 336,900 282,800 d
a 1
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The acco w tying notes are an Integral part of these financial statements.
C-5
i CITY OF YALLAHASSEE, FLORIDA E1 6 Al. FUIe SO1HlulE OF EllPUelTtMES (Continued)
I I
Fi scal Year Ended September 30 1987 1986 Var i anc e-Budgetary Favora bl e Budget Ba s i s (Unfavorable)
Ac t us !
Ac tua l General Services Personal Services......
1 111,100 1 112,600 (1,500) $ 112,600 1 140,600 Other Operating.......
88,800 75,000 13,800 75,000 54,600 2,900 Capital Outlay.
2,900 2,900 202,800 190,500 12,300 190,500 195,200 4
Internel Audit Personal Services......
138,500 134,600 3, 90 0 134,600 118,600 other Operating.......
25,200 24,900
- 300 25,000 16,400 i
Capital (ktlay.
I,000 1,000 1,000 164,700 160,500 4,200 160,600 135,000 Archives Personal Services......
87,200 81.500 5,700 81,500 68,4 00 Other Operating.......
22.100 12,000 10,100 12,300 19,300 Capital Outlay.
17,800 70 0 109,300 93,500 15,800 ft1,600 88,400 Total Financial and 4ministrative.
2,176,200 1,987,700 188,500 2,003,400 1,749,300 Lega l i
Personal Se r v i c e s......
120,000 121,700 (1,700) 121,600 101,800 Other Operating.......
387,900 379,400 8,500 344,500 338,100 Capitst Outlay.
300 300 300 Total Legal.........
508,200 501,400 6,800 466,400 439,900 Pl ann ing Personal Services......
999,900 956,100 43,800 956,100 931,600 Ot h er Oper a t i n g.......
217,600 203,600 14,000 203,600 185.400 Capital Outlay.
16,200 (1,800) 18,000 18.100 6.100 Tota l Plann in g.......
1,233,700 1,157,900 75,800 1,177,800 1,124,100 Other General Government Llatson office Personal Serv ices......
74,200 73.800 400
'3, 60 0 65,000 j
Ot her Op er a t i n g.......
48,200 46,600 1.600 39,800 44,500 I
Capital Out t ay.
600 600 600 125,000 121,000 2,000 114,200 109,500 i
Puolle works Administration i
Personal Services......
209,400 207,300 2,100 207.300 192,200
)
Other Operating.......
844,100 815,600 2R,500 885,400 735,500 1,055,500 1,022,900 30,600 1,022,700
^?7,700 C-6 The accoopenying notes are en Integral part of these financial statements.
CfTY OF TALLAHASSEE, FLORIDA GENERAL FUBE SOIEDULE OF EJIPElelTtstES (Continood)
Fiscal Year Ended September 30 1987 1986 verlance-Bud getary Favor abl e Bud ge t Basis (Unfavorable)
Act ua l Actua l ibn-Depar tmen ta l Other Operating.......
S 602,700 $ 464,600
$ 138,100
$ 448,700
$ 506,000 Code Enforcement Board Personal Services......
23,400 23,000 400 23,000 21,500 Other Operating.......
15,600 15,100 500 15,100 12,800 39,000 38,100 90 0 38,100 34,300 City Hall Maintenance Personal Serv I ces......
202,100 202,600 (500) 202,600 159,800 t
Ot her Oper a t i n g.......
530,500 498,100 32,400 498,700 504,100 Capi tal Cutl ay.
1, 80 0 1,700 100 1,700 24,300 734,400 702,400 32,000 703.000 688,200 Total Other General Goverment.
2,552,600 7,349,000 203,600 2,326,700 2,265,700 Total General Government.
7,176,000 6,685,000 491.000 6,660,900 6,165,000 Public Safety:
Law En f orc emen t Personal Services.
8,758,300 8,691,900 66,400 8,691,800 7,814,700 Other Operating.......
1,924,900 1,949,400 (24,500)
I,940,500 1,682,800 i
Ca p i ta l Ou t l ay.......
104,500 99,300 5,200 81,300 197,700 Total Law En f orcement....
10.787,700 10,740,600 47,100 10,713,600 9,695,200 I
Fire Control Personal Services......
5,766,500 5,666,200 100,300 5,666.200 5,167,500 Other Oper a t ing.......
836,900 744,800 92.100 759,600 639,300 Capital Outlay.
38,600 37,000 1,600 106,500 23,400 Total Fire Control 6,642,000 6,448,000 194,000 6,532,300 5,830,200 Protective inspection But Iding inspectton Personal Services......
572,900 565,800 7,100 565,800 508,600 l
Ot her Oper a t i n g.......
81,000 60,900 20,100 62,000 70,000 Capital Outl ay.
(300) 300 1,700 9,000 653,900 626,400 25,500 629,500 557,600 4
I The acco g enying notes are en Integral part of these financlel statemmets.
C-7
CITY OF TALLAHASSEE. FLORIDA GEIGAL FUIC SCHEDULE OF EXPEle1TUIES (Continued) 4 i
ki sc al Year Ended Septanber 30 1987 1986 Verlance-Budgetary Favorabl e 8ud ge t Ba s i s (Un f av orab le) k tuel k t ue l Code En f oreemon t Personal Services......
1 237,000 $
215,300 21, 700 $
215,300 $
214,100 22,400 19,700 Other Operating.......
22,400 22,400 259,400 237,700 21,700 237,700 233,800 Total Protective inspection 913,300 864,100 49,200 867,200 821,400 Total Public Safety.
18,343,000 18.052, 700 290, 300 18.113,100 16,346,800 Trans por tat ion
%ed and Street Facilities Street Lighting Personal Services.....
30,900 41,700 (10,800) 41,700 41.000 Ot he r Op er a t I n g......
685,100 666,100 18,400 666,700 696,000 716,000 708,400 7,600 708,400 737,900 t
j Right-of-ways I
Personal Serv ic es.....
1,202,400 1,170,000 32,400 1,170,000 994,300 Ot her Op er a t i n g......
392,000 342,300 49,700 320,200 223,100 122,900 56, 700 Capital Outlay.
105,500 105,500 t,6 99,900 1,617,800 82,100 1,613,100 1,274,100_
Streets and Orainage i
Personal Servlees.....
1,927,700 1,866,600 61,100 1,866,600 1,555,100 Other Operating......
1,112,800 1,039,200 73,600 1,021,500 876,400 Capital Outlay.
31, 300 19, 700 11,600 381,500 132,400
{
3,071,800 2,925,500 146,300 3,269,600 2,563,900 i
Traf tle Engineer ing Personal Services.....
850,500 808,800 21,700 808,800 777,500 i
Other Operating......
529,200 533,100 (3,900) 498,400 510,900 Capital Outlay.
33,400 31,300 2,100 29,700 24,v00 1,393,100 1,373,200 19,900 1,336,900 I,313,300 Total Fbad and Street Facillfles........
6,880,800 6,624,900 255,900 6,928,000 5,889,200 i
t Parking Facilities Other Operating......
t30,000 125,700 4,300 125,700 109,000 i
Total Trans por tat ion....
7,010,800 6,750,600 260,200 7,053,700 5,998,200 i
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C-8 The accespanying notes are as latogral part of these financial statements.
f i
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CITY OF TALLAHASSEE, FLORIDA GEletAL FIM)
SCHEDULE OF DFUWITtstES (Continued) l Fi scal Year Ended September 30 1987 1986 variance-Budge tary Favor sbl e Bud ge t Basis
- (Un f av orab l e)
Ac tus t Ac tua l Human Services :
Smlt%WIII tens Center Personal Services......
1 73,700 $
70,300 5
3,400 $
70,300 66,900 Ot her Oper a t i n g.......
40,000 37,400 2,600 36,400 35,600 800 80 0 Capital Outlay 80 0 80 0 114,500 108,500 6,000 107,500 103,300 Senior Citizen Center 127,000 1II,500 Personal Services......
127,000 127,000 Other Operating.......
47,200 43,700 3,500 42,400 44,300 Capital Outlay 200 200 200 800 174,400 170,900 3,500 169,600 156,600 Lincoln Center Personal Serv i ces......
89,300 87,900 1,400 87,900 84, 3 00 Other Operating.......
77,900 73,600 4,300 74,300 62,100 Capital Outlay 400 400 400 25,400 167,600 t61,900 5,700 t62,600 17I,800 Admin i s trat ion Personal Services......
154, 700 158,600 (3,900) 158,600 t15,500 Other Operating.......
394,700 390,500 4,200 390,500 366,900 Capital Outisy 1,000 1,000 300 550,400 550,100 300 549,400 482,400 4
Total Human Services...
1,006,900 991,400 15,500 989.100 914,100 Economic Environment s industry Development Minority Business Of fice l
Personal Services......
92,800 69,600 13,200 69,600 74, 600 1
Other Operating.
12,900 13,800 1900) 13,800 15,700 1,500 Capital Outlay i
95,700 83,400 12,300 83,400 91,800 i
Housing and Urban Developrent j
Personal Services......
116, 700 122,900 (6,200) 122,900 129,200 1
Ot her @er a t i ng.......
80,200 58,400 21,800 58,400 35,700 196,900 181,300 15,600 181,300 164,900 Tot al Economic Environment 292,600 264,700 27,900 264,700 256,700 1
l 1
The accompanying notes are an Integral part of these financial statements.
C-9 I
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CITY OF TALLAHASSEE, FLORIDA GENERAL Ftse SCHEDULE OF EPDelTUIES (Cont inued )
I l
FI seal Year Ended September 30 1987 1986 Yarlance.
Bu<*ge tar y F4vorable I
Bud ge t Ebsis (Unfavorablei k tual k t ue l Physical Environnent:
Solld Waste Nrsonal Services.....
S2,918,000 1 2,572,400 345,600 12. 572,400 1 2,489,100 Other Operating......
3,905,600 3,386,000
$19,600 3,298,600 2,084,300 4
Capltel N tlay.
38,900 34,900 4,000 585,700 100 6,862,500 5,993,300 869,200 6,456,700 4,573,500-Comter ies Nrsonal Services.....
173,900 156,300 17,600 156,300 167,200 Ot her Op er a t i n g......
187,000 88,900 98.100 86,600 40,700 Ca p i ta l Ou t l ey.
28,800 24,900 3, 00 0 24,900 7,900 389,700 270,l00 119,600 267,800 215,800 i
En gineer ing Personal Services.....
767,100 657,000 110,l00 657,000 670, 700 Ot her Oper a t i n g......
111,700 100,800 10,900 102,800 104,100 Capital Oatley.....
16,000 1,000 15,000 32,400 14,100 7
894,800 758,800 136,000_
792,200 788,900 i
Total Physical Environment 8,147,000 7,022,200 1,124,600 7,516,700 5,578,200 i
j Oulture and Recreation:
Admi n istrat ion j.
Personal Services......
398,400 412,600 (14,2001 412,600 373,100 Ot her Coer a t i ng.......
389,500 373,000 16,500 370,400 304.200 Caoltal Outiay 2,200 2,200 2,200 4,500 790,t00 787,800 2,300 785,200 681,ROO Orounds and Facilities PorSonal SeryIce5 975,900 945,300 30,600 945,300
%),800 Other Oper a t I ng.......
479,900 466,900 13,000 456,600 455,200 CepItal NtIay.......
67,000 58,900 8,ICO 27,500 57,1 LT I,522,800 1,471,100 51,700 1,429,400 1,416,100 Recreation Personal Se r v i c e s......
998,600 890.400 8,200 890.400 821,100 l
Other Operating.......
273,600 264,100 9,500 262,700 238,800 1
Ca p i tal Out l ey.
- 26. 100 23,000 3,100 18,300 20,300 1,198.300 1,177,500 20,800 1,171,400 1,080.200 1
i i
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C-10 The accespanying notes are en Integral port of these financial stateennts.
J
l CITY OF TALLAHASSEE, FLORIDA a
l GENERAL FUle SCHEDULE OF EFEICITURES
. (Ccmt inued) i Fiscal Year Ended September 30 i
1987 1986 l
verlence-Budgetary Favorable Budge t Basis (Unfavorable)
Ac t ua l M tual Athletics Personal Services......
428,500 $ c 426,500 2,000 $
426,500 $
411,200 Other Operating.......
228,900 209,400 19,500 196,100 242,700 Capital Outlay.......
800 600 200 600 4,600 658,200 636,500 21,700 623,200 658,500
{
Oolf Courses i
Personal Services......
432,300 396,200 36,100 306,200 372,000 f
Oth er Oper a t i ng.......
368,100 305,500 62,600 294,500 292,500 Capital Ottley.......
8,500 7,200 1,300 20,000 69,700 808,900 700,000 100,000 710,700 734,200 Total Culture and Recreetlon........
4,978,300 4,781,800 196,500 4,719,900 4,570,800 s
Tota l Expend itures.....
54 6,954,600 $4 4, 54 8,4 00
$ 2,406,200 $4 5,318,100 $ 3 9,82 9,800 I
i 4
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1 The accoseanying notes are an htegral part of these financlel statements.
C ll
\\
4 i'
1
CITY OF TALLAHASSEE, R.ORIDA GDERAL Fuse SCEDULE OF (PERATING TRANSFER $
Fiscal Year Ended Septocer 301 1987 1986 Yarlance Favorable BW get Actual (L> favorable)
Actuali s'
Oper ating Trans ters In 121,624,600 Eiectric Fu.d............
1 -22,145,500 5 22.145,500 1,231.600 water' Fund............ '
1,245,400 1,245,400 957,700 Gas Fund.............'.
984,300 984,300 4,777,600 Deficiencies and Emergencle; Fund..
3 StormesterManograentFun)t...'..
'934,100 1,024,500 90,400 Tota l Oper a t i ng Trans f eh in...
1 25,309,300 1 25,399,700 1
90,400 g28,591,500 Operating Transfers outs s
Capital t,provement Fund.
1 6,162.800 1 8.252,000
$(2,089,200) li t,028,4N Tallahassee Transit Fund......
2,186,500 1,447,500 739,000 1,138,900 570.500 (570.500) 2,016,203 Doticiencies and Emergencies Fund..
100,000 500,000 Ceiwtery Perpetual Care Trust Fund.
100,000 2,741,200 Debt Service Fund.
2,737,000 2,737,000 Downtown improvment Authority
't 9,100 Fund.
340,800 (340.800) 400,000r Risk Management Fund........
15,000 15,000 Sever Fund.............
~
mt a Proces s i ng Fur:d....
3,300 3,300 785,500 (785,500)
Capital Bonds Construction Fund...
Total Operating Transf ers out.
$ 11,204,600 $ 14,151,6C0 1(2,947,000) 117,833,800 mma 1
s' C-12 The ecwylng notes are en Integret part of these flOrdait statements.
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cPECIAL REVENUE FUNDS Sp+:lai Projectt Fund-to accour,t for Fejeral, State, local and other revenues that are to be useid for specific general government purposes.
Stormwater Management Fund-to account for fees restricted for storm-water operating and capital costs.
Law Enforcement Forfeiture Fund-to account for forfeitures received by the City as prescribed by Florica Statutes.
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1 'e CITY OF TALLAHASSEE, FLORIDA SPECIAL F.EVENUE FUpOS COSINING BALANCE SHEET September 30. 1987 Law Total s Special Stormwater En f orcemen t September September Proj ec ts Management Forf e i tur e 30, 1981___
30, 1986 ASSETS 27,000 24,900 27,000 Cash.~.............
48,100 397,600 377,400 Equity.in Pooled Cash.
349,500 131,400 49,100 rete Receivable.
131,400 306,200 303.200 Accounts Receivable..
306,200 Total Assets.......
5 814,100 48,100
$ 862,200
$ 754,600 LI ABILITIES Am FUPO BALANCES Liabilities:
1 7,000 13,000 5
7,000 Acccunts Durable.
7,000 13,000 Total liabilities....
7,000 Fund Balances:
R3ssrved fort Proj ec t s...........
27,300 27,300 21,500 bres Receivable.
131,400 131,400 49,300 Comun I ty and Re habl i I tat Ive Tru st.
27,000 27,000 24,900 27,300 185,700 95,500 Total Reserved.
158.400
'h re served /Un de s ig na ted.
648,700 20,800 669,500 646,100 Total Fund Balances...
807,100 48,100 855,200 741,600 l
Total Liabilities and j
I Fund Ba lances......
$ 8?4,100 48,100
$ 862,200
$ 754,600 The accompanying notes are an Integral part of these financial statements.
C-13
CITY OF TALLAHASSEE, FLORIDA SPECIAL REVENUE FUWS COMllNihG STATDIENT Cf REVENUES, EJtPEmlTURES AM) CHANGES IN FUle BALANCES for the Fiscal Year Ended September 30, 1967 Law To tal s Specia l Stormwater En f orcemen t September September Projects Ma nag eme nt For f e i tur e 30, 1987 30, 1996 Revenues:
)
12,087,500
$1,695,000 In tergovernmental Revenues....
$2,087,500 1,024,500 1,032,400 Charges f or Services.......
1,024,500 Fines and Forfelts........
35,000 35,000 20,500 4,300 9,700 168,600 Interest Earned.
4,400 25,300 14, 80 0 Miseetlaneous Revenues 25,300 Total Revenues.........
2,117,200 1,024,500 39,300 3,181,000 2,931,300 Expendi tur es t Current General Goverrenent 227,000 227,000 223,500 Pubile Sa f ety.
32,000 32,000 38,800 Tr ansportat ion.....
333,400 333,400 56,500 Human Ser v ic es..........
545,800 545,800 229,800 Economic Environment 944,500 944,500 891,900 Physical Environment 100 100 172,400 Cul tural and Recreation.
7,300 7,300 242,600 Capital Outlev.
10,400 10,400 Total Expend i tures.......
2,058,100 42,430 2,100,500 1,857,500 Excess of Revenues Over (Under)
Ex p end i tur es..........
59,100 1,024,500 (3.100) 1,080,500 1,073,800 Other Financing Sources (Uses):
Operating Trans f ers in.
58,200 58,200 Operating Trans f ers Out.
(1,024,500)
(600)
(1,025,100)
(1,263,500)
Total Other Financing Sources
]
(Uses) 58,200 (1,024,500)
(600)
(966,900)
(1,263,5_00)
Excess of Revenues and Other Sources (Under) Expendi tures and Other (Uses) 117,300 (3, 700) 113,600 (189,700) j Fund atlances - October 1 689,800 51,800 741,600 2,585,800 Res id ub i Ecul ty Trans f er.
(1,654,500)
Fund as iances - September 30....
5 807,100 1
5 48,100
$ 855,200 1 741,600 C-14 The accompanying notes are an Integral part of these financial statements.
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DEBT SERVICE FUND To account for the accumulation of resources for, and the payment of general long term debt principal and interest.
-, - -, - -... -,,,, - - ~,,,,.
-v.--
CITY OF TALLAHASSEE. FLORIDA DEBT SERVICE FtNO BALANCE SHEET September 30 1987 1986 ASSETS 1 3,465,700
$ 3,4 70,600 Equity In Pooled Cash..................
3,210,100 2,051,700 investments......................
Accrued Interest Receivable...............
95,600 62,500 1,000 Accounts Receivable..................
Deposits........ '................
54,200 52,500 Total Assets.....................
1 6,825,600
$ 5,638,300 FUNO R%ANCE Fund Balance!
Reserved for Current Debt Service.................
395,500 5
401,300 6,430, LOO 5,237.000 Future Debt Service..
6,825,600 5,638,500 Total Reserved....................
To ta l Fund Ba l anc e.........
1 6,825,600
$ 5,638,300 DEBT SERVICE FlNO STATEMENT OF REVENUES, EXPEM)1TtRES AIO CHANGES IN FLN) 6ALANCE Fiscal Year Ended Saotember 30 1987 1986 Revenue:
Interest Earned.
223,000 134,800 Expend i t ure s :
Debt Service:
Pr incipal Retireent.
2,014,600 6,014,600 J
Interest and Fiscal Charges.........
2,244,600 2,219,100 To ta l Ex p end i t ur es.................
4,259,200 8,233,700 Excess of Revenues (thder) Expenditures........
(4,036,200>
(8,098,900)
Other Financing Sources (Uses):
Debt Proceeds 2,000,000 6,000,000 f.perat ing Transf ers in................
3,223,500 3,202,000 Total Other Financing Sources (Uses) 5,223,500 9,202,000 Excess of Revenues and Other Sources Over E n c end i t ur es and Ot her us e s........
1,187,300 1,103,100 Fund Balance - October 1..
5,638,300 4,535,200 Fu nd Ba l a nce - Sep tem ber 3 0...............
t 6,825.600 1 5,638,300 The accompanying notes are an Integral part of these financial statements.
C-15
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CAPITAL PROJECTS FUNDS Capital Improvement Fund-to account for general revenues 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.
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l CITY OF TALLAHASSEE, FLORIDA l
CAPITAL PROJECTS FUNDS l
CGelNING BALANCE SHEET September 30, 1967 i
Ca p i tal Total s Capita!
Bonds Sept ember Sep t ember Imorovement Construction 30, 1987 30, 1986 ASSETS Eq ui ty in Pooled Cash.
$28,175,300
$ 8,654,800
$36,830,l00
$ 3 4, 64 3,4 00 Acc oun t s Rec e i va b l e.....
296,900 296,900 98,900 Accrued Interest Receivable.
128,500 128,500 50, 80 0 Speci a l Assessment Receivable Current.
225,000 225,000 172,300 De f er red...........
703,900 703,900 688,600 Advance to Other Funds....
60,000 Total Assets.......
$29,529,600
$ 8,654,800
$ 38,184,4 00
$35,714,000 i
LIABILITIES AND FUND BALANCES l
Liabilltles:
Accounts Payable.
45,700 26,100 71, 80 0 57,400 Retalnage Payable..
235,200 44,500 279,700 77,400 De f erred Revenue......
703,900 703,900 688,600 Total Liabilities.....
984,800 70,600 1,055,400 823,400 Fund Balances:
I i
Reser ved for Advance to Other Funds...
60,000 En cum br a nc e s........
1,944,600 452,500 2,397,100 3,531,600 Pr oj ec t s..........
15,169,500 6,431,000 21,600,500 16,107,300 I
Total Reserved.
17,114,100 6,883,500 23,997,600 19,698,900 Un reserved /Undes ignated 11,430,700 1,700,700 13,131,4 00 15,191,700 Total Fund Ba lances,...
28,544,800 8,584,200 37,129,000 34,890,600 l
Total Liabilities and 1
Fu nd Ba l anc es......
$29,529,600
$ 8,654,800
$38,184,4 00
$3 5, 714,0,00 -
The accompanying notes are an intooral part of these financial statements.
C-17
CITY OF TALLAHASSEE, FLORIDA CAPITAL FH0 JECT! FtseS COMilNING STATEMENT OF REVENUES, EXPT M)lltstES AM) CHAN0ES IN FUM) HALANCES For the Fiscal Year Ended September 30,196F Capital To tal s Capital Bonds September Sep tember improvement Cbns truc t ion 30, 1987 30, 1986 Revenues t Special Assessment Revenue.....
1 336,300 336,300 1
155,600 -
Intergovernm,*nta l Revenue.
181,800 in t er e s t Ea r nas..........
2,145,800 566,800 2.712,600 4,213,700 Mi scel laneous Revenue.
34,800 I,000 35,800 27,400 To t a l Re v en ue s..........
2,516,900 567,800 3.084,700 4,578,500 Expenditures Current 0 noral Government.
82.500 82,500 215,000 Public Saf ety 87,600 87,600 209,800 Transportation..
5,844,700 461,900 6,306,600 6,509,400 Human Services...........
118.300 118,300 13,900 (con <wle Environment.
149, 700 149,700 273,800 Physical Environment.
23,500 2.5,500 1,453,300 Cul ture and Recreation.
241,100 6.0c0 247,100 376.500 Capi tal Outl ay...
6, 3a l, 500 1,570,500 7,952,000 1,832,100 To tal Expend i tur es......
,, 12,928,900 2,038,400 14,96 7, 300 10,883, a00 Excess of Revenues Over (under) ExpenJ l tur es...
(10,412,000)
_ (1,470,600_)
(11,187,600) 16.305, 500)
Other Financing Sources (Uses):
Pr oceeds f rom Sa l e of Pr oper t y.
319,200 319,200 Cu er a t i ng Tr an s f er s i n.......
12,927,500 1,273,500 14,201,000 11,265.400 Operating Transfers Out.
(308,100)
(11,000)
(399,2001 (320,400)
Toral Other Financing Sources (Usas) 12,858,500 id62,500 14,121,000 10,945,000 Excess at Revenue and Other Sources Over (Under)
Expend i tures and Ot her Uses.
2,446,500 (208,100) 2, 2.M, 4 00 4.639,700 Fund iblancos - October 1......
26,098,300 8,792,300 34,800,600 30,250,900 fund Balances - September 30 128.544,800 5 8,584,200 137,129,000 134,800,600 C-18 The accompenying notes are nn integrel port of these financlel statements.
ENTERPRISE FUNDS Electric Fund-to account for the assets, operation and maintenance of the Ci'y-owned electric system.
Gas Fund-to account for the assets, operation and maintenance of the City-owned gas system.
Sewer Fund-to account for the assets, operation and maintenance of the City-owned sewer system.
Water Fund-to account for the assets, or e:-
and maintenance of the City-owned water system.
Airport Fund-to account for the assets, operation and maintenance of the municipal airport.
Tallahassee Transit Fund-to account for the assets, operation and maintenance of the City's mass transportation system.
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CITY OF TALLAHASSEE, FLORIDA to EpiTERPRISE FUIOS COGilNING BAUuCE SHEET September 30, 1967 Tota l s Tallahassee September September
_ Electric ras Sewer water Air port Transit 30, 1987 30,1986 ASSETS Current Assets:
Cash 5
41,500 1
- 5
-- 5
-- 1 1,000 5 2,900 1 45,200 5 123,800 Equi ty in Pooled Co.h.
9,298,600 718,900 185,600 488,700 474,200 831,100 11,997,100 9,996,400
+
l Receivables:
Customers...............
8,361.800 449,600 948,500 609,500 194,400 70,600 10,634,400 9,927,600 Accounts...............
542,800 16,100 10,200 32,000 218,800 64,300 886,200 684,700 Less: Allowance for Doubtful Accounts (886,200)
(61,400)
(78,200)
(51,800)
(34,800)
(1,112,400)
(899,200) 8,666,800 96,600 94,600 305,900 9,163,900 9,207,200 Inventory..
Total Current Assets.........
26,075, 00 1,221,800 1,066,100 1,078,400 948,200 1,274,800 31.614,400 29,040,500 Restricted Assets:
Equity in Pooled Cash.
67,999,900 3,181,600 23,748,500 14,754,300 10,568,200 120,252,600 93,721,200 Pbtes Receivable.
2,119,300 2,119,300 1,659,500 Accounts Receivable.
319,300_
20,400 339,700 667,700 Total Restricted Assets......
70,4 %,400 3,181,800 23,748,500 14,754,300 10,588,600 122,711,600 96,048,400 Other Assets:
unamortized Bond Issue Cost.
602,400 67,500 20,300 690,000 754,800 thamortized Loan issuo Cost.
92,900 79,300 172,200 Total Other Assets.........
602,400 160,200 99,600 862,200 754,800 Fixed Assets:
Fleed Assets - Cost 232,981,600 8,935,400 76,377,800 32,386,500 17,200,700 10,662,000 378,543,800 367,295,400 Less: Accumulated Ospreciat ion...
(95,578,600)
(3,788,600) (15,838,400)
(9,791,000)
(6,447,800)
(2,701,500) (134,145,900) (123,501,900)-
Construction In Progress.........
40,733,400 454,100 6,617,300 1,354,100 3.201,000 530,800 52,890,700 39,638,700 Fixed Assets - tut.
178,136,400 5,600,900 67,156,700 23,949,400 13,953,900 8,491,30C 297,288,600 283,432,200 Total Assets..............
5275,202,300 110,004,500 552,131,500 139,881,700 525,490,700 5 9,766,100 5452,476,800 1409,275,900 i
The accompanyl#2 notes are an Integral part of tIneae financial statements.
I
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUPOS e
00pellNING BALANCE SHEET September 30, 1987 (Continued)
Totals Tallahassee September September Electric Cas Sewer 6 tater Airport Transit.,
30, 1987 30, 1986 LI ABILITIES APO FUFO EQUI TY Current Llobilltles:
Accounts Payable.
5 6,748,500 5 491,400 5 32,000 5 29,300 5 136,700 5 48,900 5 7,486,600 5 4,641,700 Customer Contracts Payable.
224,200 127,900
$52,100 35G,905 Cu stomer Ad va nces...........
38,900 2,9 00 11,700 16,$ M) 69,800 102,400 Due to Other Funds...........
1,000 2,900 3,900 3,900 Ut ility Deposits Payable........
5,212,300 127,100 335,500 5,674;K f 4,742,300 Loan from Municipal Retirement Fund..
37,900 17,900 _
35,000 Total Current Llabilities.
11,999,500 621,400 256,200 492,700 187,300 68, lg 13,625,200 9,876,200 Payable f rom Restricted Assets:
73,500 3,900 Accrued Interest and Commissions Payable 39,100 33,400 Bonds Payable.............
125,000 6% 7,7'JO 388,400 Retalnage and Accounts Payable.
598,300 _
47,700 3,800 7,900 Total Payable from Restricted Assets.
598,300 06,800 37,200 7,900 750,200 517,300 Other Liabilltles:
SCG,0J1 Advanced From Other Funds.......
500,000 Def er red Revenue............
49,600 10,000 7,300 e,900 57,600 Customer Contracts Payable.......
116,600 1,334,600 1,208,200 2,659,400 2 734,100 Customer Ad vances...........
118,800 52,800 13,000 184,600 123,200 Accrued Leave.
1,043,400 79,500 287,600 136,100 161,500 133,500 1,04 6, e )
1,761,600 Loan Payable.
8,694,300 7,483,700
-Ib,17U,000 Bonds and Notes Payable.
110,593,500 105,500 16,569,400 6,770,100 IM,03A SNa 130,220,500 Less: Bond Discount.
(2,118,000)
(51,600)
(32,900)
(2,20P,50c)
(2,301,600)
Loan from Municipal Retirement Fund.
186,000 186fe9 223,700 Tot a l Ot her L i a bi l i t i es..,.....
109 *t03,900 18 5,O')0 27,387,100 15,578,200 357,500 140,600 153,452,500 4 0,879,300 Total Liabilltles...........
122,401,700 806,400 27,750,100 16,108,I00 552,700 208,700 167,8M,700 ISI 272,800 w
Fund Equity:
Contributed Capital.
1,890,700 22,685,400 20,228,800 9,677,200 54,482,100 48,132,100 Retained Earnings:
Reserved.
69,987,000 3,181,800 23,661,700 14,717,100 3,188,700 63,300 114,799,600 95,232,9M Unreserved.
80,922,900 6,016,300 18,054,300 9,056,500 1,520,500 (183,100) 115,387,400 114,538,100 Tota l Fund Eq ui ty.....'......
152,800,600 9,198,I00 64,401,400 23,773,600 24,938,000 9,557,400 284,669,100 258,003,100 Total Liabilities and Fund Equity..
5275,202,300 110,004,500 592,131,500 539,881,700 125,490,700 5'9,766.100 5452,476,800 5409,275,900 o
The accompanying notes are an Integral part of these financial statements.
to i
CITY OF TALLAHASSEE, FLORIDA ENTEHPRISE FUES COWINING STATDIENT OF REYDeUES, EXPENSES AND CHANGES IN RETAINED EARNINGS for the FIscaI Year Ended September 30, 1967 Total s Tallahassee September Septem5r Electric Gas Sewer water Air port Transit 30, 1987 30, 1986 Operating Revenue:
Charges for Services:
Resident ial Sa l es........
1 50,269,100 5 2.082,400 5 5,*,25,700 5 3,992,900 5
-- 5 5 61,670,100 5 56,783,500 Commercial and industrial Sales..
56,169,900 6.459,900 5,620,600 2,732,000 70,982,400 66,976,500 815,300 843,100 Public Street and Highway Lighting 815,300 Sales for Resale....
1,915,I00 1,915,100 1,440,700 Sales to Other Funds.......
3,748,600 68,400 89,900 155,000 4,054,900 4,018,000 Secharge.
678,100 161,100 388,100 e,227,300 1,113,800 Tapping fees...........
15,900 130,600 290,000 436,500 354,400 Sales of Gas and 01I...
1,654,800 1,654,800 1,944,500 Landing and Tie Down Fees.....
310,200 310,200 283,400 La t e Fees.............
187,700 17,900 7,000 212,600 275,900 Initiating Service........
224,900 28,300 167,700 420,900 220,200 Rentals.........,....
198,400 52,500 2,162,500 2,413,400 2,174,000 Cut-Ins and cut-fees.......
360,400 35,400 225,400 621,200 345,400 Trans portat ion Fees........
1,319,500 1,319,500 1,I18,700 Other.
142,700 12,800 132,000 174,100 126,800 588,400 333,800 Total Operating Revenues.... 114,703,200 8,721,000 11,459,900 8,184,700 4,254,500 1,319,500 148,642,600 138,225,900 Operating Expenses:
Personal Services..........
7,646,800 745,000 3,391,700 1,534,400 1,195,600 2,339,000 16,852,500 15,695,700 Fossil Fuel..
35,819,900 35,819,900 34,424,100 Power Pur ch ased...........
12,080,500 12,080,500 9,915,200 Gas Purchased.
5,649,300 5,649,300 5,471,500 Materials and SuppIIes.......
582,800 47,400 520,600 296,500 87,100 671,300 2,205,500 1,857,300 Contractual Services........
6,425,500 573,800 3,584,400 2,396,300 1,779,600 366,800 15,126,400 14,596,600 Otner Expenses...........
4,4I4,100 235,400 826,2n0 318,900 181,400 73,900 6,049,900 4,256,100 Less: Applied Equipment Charges..
(42,900)
(61,900)
(123,200)
(188,100)
(416,100)
(623,400)
Depr ec i a t i on............
8,025,500 224,500 1,841,800 647,300 596,800 552,900 11,888,600 11,532,400 Amortization.
146,100 14,900 8,000 169,000 177,600 Total Operating Expenses....
75,098,300 7,413,300 10,056,400 5.013,100 3,840,500 4,003,900 105,425,500 97,503,100 Operating Income (Loss).
39,604,900 1,307,700 1,403,500 3,I71,600 413,800 (2,684,400) 43,217,100 40,922,800 Q W dgl @ C3O C3.le h ot these financ_I_al st t d sg
CITY OF TALL AHASSEE, FLORIDA ENTERHtlSE Ftm05 00DellNING STAIDeEI.T OF REVENUES, EXPENSES A80 CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30, 1987 (Continued)
Totals Tallahassee September September Electric Gas Sewer water Air port Transit 30, 1987 30, 1986 tbnopuating Revenues (Expenses):
Interest Revenue.......
5 6,493,000 5 273,600 5 1,713,200
$ I,036,500 5
731,000 $
1 10,247,300 512,517,400 Gsin on Sale of Surplus Property..
7,100 500 7,600 11,800 Grant Revenue.
770,000 770,000 1,041,800 Other Revenue.
1,819,200 24,400 1,561,000 656,000 7,600 500 4,068,700 1,099,700 Interest and Commission Expenses..
(9,710,600)
(8,500)
(1,486,000)
(808,000)
(19,400)
(12,032,500)
(9,946,400)
Loss on Sale of Property......
(195,300)
(195,300)
(100)
Other Expenses...........
(530,100)
(122,400)
(445,2001 (271,900)
(2,400)
(77,700)
(1,449,700)
(592,400)
Total tbnoperatIng Revenues (Expenses).
(1,928,400) 167,100 1,343,000 613,100 716,800 499,500 1,418,100 4,131.800 income (Loss) Before Operating Transfers and Extraordinary item.
37,683,500 1,474,800 2,746,500 3,784,700 1,130,600 (2,184,900) 44,635,200 45,054,600 Operating Transfers In (Out):
Operating Transfers in.......
500 5,300 15,200 2,300 1,507,700 1,532,000 4,651,600 Operating Transfers (Out)
(23,878,000)
(1,090,800)
(597,800)
(1,517,400)
(324,300)
(62,000)
(27,470,300)
(24,430,100)
Income (Loss) Before Extraordinary 13,806.000 389,300 2,164,900 2,269,600 806,300 (739,200) 18,696,900 25,276,100 item.
Gain on Refunding of Bonds.....
24,566,100 twt income (Loss).
13,806.000 539,300 2,164,900 2,269,600 806,300 (739,200) 18.6 %,900 49,842,200 Olsposition of, Net income:
(Increase) Oecrease in Contributed Capital..............
27.900 (60,300)
(32,400)
(37,400)
Depreciation on Contributed Assets.
692,800 514,200 544,500 1,751,500 1,640,300 Net increase (Decrease) in Retained Earnings.
13,806.000 389,300 2,857,700 2,269,600 1,348,400 (255,000) 20,416,000 51,445,100 Retained Earnings - October I..
137,103,900 8,808,800 38,858,300 21,504,000 3,360,800 135,200 209,771,000 156,671,400 Rasidual Equity Transfer.......
1,654,500 Retained Earnings - September 30... 5150,909,900 5 9,198,100 141,716,000 5 23,773,600 5 4,709,200 $ (119,800) 5230,187,000 5209,771,000 The acen=panyIng notes are an Integral part of theso financial statements, vi
?o CITY OF TALLAHASSEE, FLORIDA EldTERPRISE FIDOS COWINING STAIDEENT OF CHANGES IN FINAACIAL POSITION For the Fiscal Year Ended Sept==har 30,]ggy Totals Tallahassee Sept ember September Electric Gas Sewer water Airport Transit 30, 1987 30, 1986 Sowces of Wrking Capital:
Operations:
Income Before Extraordinary item.
5 13,806,000 5 389,300 1 2,164,900 5 2,269,600 $
806,300 $ (739,2001 5 18.6 %,900 525,276,100 Iterss Not Requiring (providing) working Capital:
8,025,500 224,300 1,841,800 647,300 596,800 552,900 11,888,600 11,532,400 Depreciation..............
Amort i zat ion.
146,100 14,900 8,000 169,000 177,600 Accretion...............
1,118,000 1,118,000 1,020,400 Accrued Leave.
43,500 (1,7001 6,700 6,100 20,400 4,900 79,900 131,100 working Capital Provided by Operations Before Extraordinary item.
23.139,100 611,900 4,028,300 2,931,000 1,423,500 (181,4001 31,952,400 38,137,600.
Gs i n on Re f und i ng of Bon ds.......
24,566,100 increase In Customer Contract Payable.
321,700 increase In Loan.
8,694,300 7,483,700 16,878,000 Increase in Customer Advances......
6,400 9,000 15,400 23,800 lacrease in Deterred Revenue..
1,200 Residual Equity Transfer.
.1,654,500 Contributions..............
8,096,300 131,900 8.228,200 3,543,500 increase in Advance from Other Funds..
500,000 500,000 Increase in Payable from Restricted Assets.................
314,600 314,600 19,300 Retirement of Plant in Service.
244,800 244,800 Bonds issued.
112,930,300 Total Sources of working Capital....
23,460,l00 611,900 13,222,600 10,423,700 9,519,800 195,300 57,433,400 181,197,800 Uses of erking Capital:
Acquisition of Fixed Assets.......
17,729,000 474,300 4,558,100 1,744,300 1,420,500 64.900 25,991,100 21,067,800 Decrease In Customer Advances......
4,000 4,000 16,600 Decrease in Deterred Revenue.
200 500 700 13,800 Decrease in Bonds Payable..
4,475,000 6,000 564,500 254,500 5,300,000 125,155,000 increase in Bond Discount.
752,200 Increase in a>nd issue Cost.
400 400 260,700 increase In Loan issue Cost.
%,100 79,300 175,400 The acen-Paaylag notes are an latogral part of these financial stataments.
CITY OF TALLAHASSEE, FLORIDA ENTDtPRISE F4 MIS COG 11NING STATDeENT OF CHANGES IN FlHABCI AL IM)SITION For the Fiscal Year Ended September 30, 1987 (Continred)
Totals Tallahassee September September Electric Gas Sewer Water Air port Trar.s t t 30, 1987 30, 1986 Reduction in Contributed Capital 5
- 5
-- 5
-5
-- 5
- 5
- 5
- 5 25,200 Increase in Restricted Assets......
2.675,600 94,600 7,607,500 8,304,700 7,980,900 26,663,300 31,709,500 Contributions.
259,300 259,300 Reduction of Loan from Municipal Retirement Fund.
37,900.
37,900 35,000 Decrease in Customer Contracts Payable.
400 62,900 11,400 74,700 4,800 Decrease In Payable from Restricted Assets.
27,300 44,900 37,400 109,600 903,400 Total Uses of Working Capital.....
24,880,400 602,200 3 197,500 10,431,600 9,439,500 65,400 58,616,400 179,944,000 Net increase (Decrease) In Working Capital.
$(1,420,300) 5 9,700 5 25,300 $
(7,900) 5 80,300 1 129,900 5 (1,183,000) $ 1,253,800 Elements of Net increase (Decrease) In Working Capital:
Cash 1
(78,600) 5
-- 1
- 1
-- 5
-- 5
-- 5 (78,600) 5 49,100 Equity in Pooled Cash.
1,654,200 191400 12,000 34,700 55,600 48,800 2,000,700 3,599,100 Accounts Receivable.
559,IC (43,300) 35,100 66,500 71,900 6,100 695,200 (2,583,900)
Inventory................
(69,500)
(2,800) 8,500 20,700 (43,500)
(300,400)
Accounts Payable....
(2,642,100)
(127,500)
(20,000)
(29,300)
(52,500) 18,600 (2,852,800) 994,500 Customer Contracts Payable.......
(1,800) 600 (1,200) 128,400 Customer Advances............
(1,300)
(1,800) 35,700 32,600 (47,300)
Du e to Other Funds.
(1,600) utility Deposits Payable.
(842,I00)
(50,500)
(80,200)
(932,600)
(581,400)
Loan f rom Mun ic i pa l Rot t r emen t Fund...
(3,000)
(3,000)
(2,700)
Net increase (Decrease)
Working Capital 5(1,420,300) 5 9,700 5 25,300 5 (7,900) 1 80,300 1 129,900 5 (1,185,000) 5 1,253,800 i
The accompanying notes are an Integral guert of these financial statements.
4 l
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND HALA CE SHEET September 30 1987 1986 ASSETS Current Assets:
1 41,300 119,900 Cash,..........................
9,298,600 7,644,400 Equi ty in Pooled Cash.
Accounts Receivables Customers.......................
8,361,800 7,769,700 542,800 382,200 Ot h e r.........................
Less: Al lowance for Doubt f ul Accounts.........
(885,200)
(692,600)
Invoitory:
Fossli Fuel......................
6,59),600 6,773,000 4,104,700 3,732,100 Nuc l ear Fue l......................
Accumulated Amortization of Nuc l ear Fue l........
(2,031,500)
(1,768,800)
To t a l C ur r en t As se t s.................
26,025,100 23,959,900 Restricted Assets:
Revenue Ronds Reserver 14,804,500 14,804,500 Equity in Pooled Cash Revenue Ibods Construction 17,768,300 24,277,400 Equity in Pooled Cash.................
Ot her :
7,159,600 5,900,100 Equity in Poot ed Ca sh No t e s R 3c e i va b i c................
2,il9,300 1,659,500 Revenue Bor.d4 Renswal and Replacanent:
28,267,400 21,121,300 Equity in Pooled Cash Acc oun t s Rec e i vab l e..................
319,300 Tota l Re s tr le ted As sets................
_70,418,400 67,762,R00 Other Assets:
602,400 658,100 Unamortized Bond Issae Cost...............
To t a l Ot he r As set s..................
602,400 658,100 Flued Assets:
232,981,600 226,384,400 Fixed Assets - Cost Less: Accumulated Depreciation..
(95,578,600)
(88,585,500)
Con st r uc t i on i n Pr ogres s.................
40,733,400 50,634,000 Fixed Assets - Not 178,136,400 168,432,900 j
Total Assets..........,..........
1275,202,500
$260,813,700 l
i i
1 08 The accompanying notes are an Integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND BALANCE SHEET (Continued) l September 30 1987 1986 i
l LI ABILITIES AND FUND EQUITY Current liabilities:
Accounts Payable.......................
$ 6,74',300
$ 4,106,200 Cus t omer Ad va nces......................
38,900 37,600 5,212,300 4,370,200 utility Deposits Payable.
Tota l Curr en t Ll a b i l i t i es...............
11,999,500 8,514,000 Payable from Restricted Assets:
598,500 283,700 Retalnage and Accounts Payable.
Tota l Pa ya b l e f r om Res tr i ct ed As set s............
598,300 283,700 Other Liabilltles:
Cu st ome r Con tr ac t s Pa y a b l e................
116,600 117,000 Deferred Revenue.
49,600 49,600 Customer Advances......................
118,8 00 112,400 Ac c r.e d Le a ve........................
1,043,400 999,900 Bonds and Notes Payable.
110,593,500 113,950,500 Les s: Bond Di scount.
(2,118,000)
(2,208,000)
Tota l Ot her Li ab i l i t i es................
109,803,900 113,021,400 Total Liabilities................
122,401,700 121,819,100 Fund Equity:
Contributed Capital 1,890,700 1,890,700 Retained Earnings:
Reserved for Revenue B nds........................
14,804,500 14,804,500 Revenue Bonds Construction.....
17,473,500 24,257,400 Other.
9,300,800 7,434,600 Revenue Bonds Renewal and Replacement.
28,408,200 20,992,600 Total Reserved.
69,987,000 67,479,100 threserved...
80,922,900 69,624,800 Total Fund Equity.
152,800,600 138,994,600 Tota l Li a bi l i t i es and Fund Ea ul ty..
1275,202,300
$260,813,700 i
1 l
l l
1 I
The accompanying notes are an Integral part of these financial statements.
D-9
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FtM)
STATEMENT OF REVENUES, EXPENSES AM)
CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1987 1986 Operating Revenue:
Charges for Services:
Residential Sales.....................
1 50,269,100
$ 45,833,500 Commerc i a l an d I n dus tr i a l Sa l es..............
56,169,900 53,146,800 Pub t le Street and Highwa y t.lghting.............
815,300 843,100 1,915,100 1,440,700 Sales for Resale.....................
Sales to Other Funds....................
3,741,600 3,688,200 678,100 596,300 Surcharge....
Late Fees.........................
187,700 243,600 In i t i at i ng Service..............
224,900 118,500 198,400 197,400 Rentals.........
Cu t -i n s a n d Cu t - f ee s....................
360,400 191,700 Other..........
142,700 115,500 Tota l Operat i ng Revenues..........
114,703,200 106,415,300 Operating Expenses:
Personal Services......................
7,646,800 7,234,400 Fossil Fuel...
35,819,900 34,424,100 Power Purchased.
12,080,500 9,915,200 Miterials and Supplies................
582,800 537,800 Contractual Services................
6,425,500 5,464,100 Other Expenses........................
4,414,100 2,501,200 Less: Applied Eaulpment Charges...............
(42,900)
(216,800)
Depreciation..
8,025,500 7,871.500 Amort!zation........
146,100 161,800 Total Operating Expenses.................
75,098,300 67,893,300 Operating inem e.......
39,604,900 38,5??,000 Pbnoperating Revenues (6penses):
Interest Revenue.
6,493.000 8,859,900 Gsin on Sale of Surplus Property...
7,100 10,700 Other Revenue..
1,819,200 709,400 Interest and Commission Expenses...............
(9,710,600)
(8,300,400)
Other Expenses.
(530,100)
(440,400)
Total Pbnoperating Revenues (Expenses).
(1,921,400) 839,200 incme Before Operating Transfers and Extraordinary item.
37,683,500 39,361,200 Operating Trans fers in (Out):
Operating Transfers In..................
500 1,910,900 Operating Transf ers (Out)
(23,878,000)
(2 t,639,500)
Incone Before Extraordinary i t em.
13,806,000 19.632,800 24,566,100 Gs i n on Re f und i ng of Bon d s..............
Net i n c om e.........................
13,806,000 44,198,900 Retained Earnings - October 1 137,103,900 92,905,000 Re t a i n ed Ea rn i ng s - Se ptem ber 30................
51 50,909,900 5137,103,900 D-10 The accompanying statements are an Integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND l
STATEMENT OF CHANGES IN FINANCIAL POSITION i
l Fiscal year Ended September 30 1987 1986 l
Sources of working Capital:
Operations:
113,806,000
$ 19,632,800 Income Before Extraordinary item...............
items Pbt Requiring (providing) Working Capital 8,025,500 7,871,500 Depreciation........................
146,100 161,800 Amortization........................
Accretion.......
................ ~..
I,Il8,000 1,020,400 43,500 94,200 Accrued Leave........................
Working Capital Provided by Operations Before Extraordinary 23,139,100 28,780,700 item.
24,566,100 Ga i n on Re f un d i ng of Ebnd s..................
Increase in Customer Advances................
6,400 12,400 Increase in Payable fr m Restricted Assets..........
314,600 1,200 Increase in Deferred Revenue.................
1,091.400 Contributions........................
Ebnds issued.........................
112,930,100 Totat Sources of working Capital...
23,460,100 167,381,900 Uses of w3rking Capital:
Acquisition of Plant in Service...............
17,729,000 13,115,000 4,475,000 124,270,000 Decresse in Bonds Payable.
increase la Bond Olscount 752,200 400 260,700 increase in Bond issue Cost increase in Restricted Assets................
2,675,600 27.241,500 Decrease in Payable from Restricted Assets..........
652,700 Oecrease in Custrer Contracts Payable............
400 4,800 24,880,400 166,296,900 Total Uses of Working Capital Net lnerease (Decrease) in Working Capital.
$(1.420,300)
$ 1,085,000 Elements of ret increase (Decrease) in Working Capital:
1 (78,600) 47,500 Cash.
1,654,200 2,343,500 Equi ty in Pooled Cash 559,100 (1,374,500)
Accounts Receivable......
(69,500)
(340,800) inventory..........................
Accounts Payable.......................
(2,642,100) 977,300 (1,300)
(32,800)
Customer Advances......
Ut i l i ty De po s i t s Pa y a b l e...................
(842,100)
(535,200)
Pe t increase (De rease) Working Capital.
$(1,420,300)
$ 1,085,000 The accompanyinq notes are an Integral part of these financial statements.
0-11
CITY OF TALLAHASSEE, FLORIDA ELECIMIC FtM)
SottDULE OF OPfRATING EJO*ENSE Fiscal Year Ended September 30 1987 198 6 Administrative and Generale Personal Services...............'......
1 730,400 S
870,900 Contractual Servlees...................
3,497,300 3,012,400 Materials and Suppfles..................
14,900 11,600 Other..........................,
4.339,200 2,326.100 8,581,800 6.221,000 Ol s tri but ion:
Personal Services.....................
2,637,300 2,S29,400 Contractual Services...................
1,109,600 992,300 Ma t er i a l s and S upp l i es.............,....
175,800 164,100 14,100 11.400 Other..........................,
3,936,800 3,697,200 Transmission:
Personal Services...................
146,300 60,300 Contractual Services...................
98,$00 24,300 Ma t er i a l s and S upp l i es..................
3,400 2,200 Other...............
27,100 90,300 275,300
.. _ _ _ 183,100 Englneering:
Personal Services.
210,000 172,500 Contractual Servlees...................
5,700 10,600 Ma t er i a l s and S u pp l i es..................
2,300 3,100 Other.
15,700 17,500 233,700 205,000 Generatlon:
Personal Services.
3,922,800 3,595,300 Fossil Fuel..
35,819,900 34,424,100 Contractual Services...................
I,714,400 1,424,300 Power Purchased..
12,000,500 9,915,200 Ma ter l a i s and S u pp l i es..................
386,400 356,700 Other.........................
18,000 56,000 53,942,000 49,771,600
)
i Less: Applied Eaulpment Charges..............
(42,900)
(216,600)
Depreciation.
8,025,$00 7.871,300 Amrtitat ion.
146.100 161,800 Total Operating Expense.
175,098,300 167,893,300 0-12 The accompanying notes are an Integral part of these fineoclel statements.
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND REGULATCRY SCHEDULE OF OPERATlNG EXPENSE September 30 1987 1986 535,819,900 134,424,100 Fossil Fuel..........................
1,265,800 1,107,900 Nuclear............................
12,080,500 9,915,200 Purchase of Power.......................
Production:
Operating.........................
2,695,900 2,474,800 I,062,800 983,300 mintenance..............,.........
Tr an smi ss ion :
Operating.........................
338,000 207,400 114,600 106,100
%1ntenance........................
Olstribution:
Operating.........................
2,304,300 2,109,000
%lntenance...................
867,800 814,500 5,149,400 3,312,300 Administrative........................
506,300 475,600 Automot ive Equipment Expense.................
Less: Ap p l i ed Eq u i pmen t Ch arg es...............
(144,600)
(315,8001 8,025,500 7,871,600 Depreciat ion.........................
146,100 161,800 Amortization....
3,648,500 3,465,500 Customer Accounts Exoaase...................
1,217,500 780,000 Other.............................
175,098,300 167,893,300 Total Operating Expense.
The above schedule is presented in accordance with the Uniform Chart of Accounts as promulgated I
by the Federal Energy Regula+ory Commission
\\
The accompanying notes are an Integral part of these financial statements.
0-13 l
CITY OF TALLAHASSEE, FLORIDA cAs rime RALMCE SHEET Septenber 30 1987 1986 ASSETS Current Assets:
5 718,900 5
523,500 Equity in rboled Cash.
Accounts Receivablet Customers........................
449,600 501,400 18,100 2,800 Other......
Less: Al lowa nce f or Cbubt f ul Accoun t s..........
(61,400)
(54.600)
In ven tory :
Fo s s i l Fu e l.......................
96,600 99,400 Total Current Assets..................
1,221,800 1,072,500 Restricted Assets Revenue Bonds Debt Service:
35,100 Eculty in fbolcd Cash Revenue Bonds Reservet Eculty in Pooled Cash.
75,500 75,500 Revenue Bonds Renewal and Replacermenti 3,024,200 2,976,600 Equity In Pooled Cash Other Equity in Fboled Cash 82,100 To t a l Re s t r i c t ed As s e t s.................
3,181,800 5,087,200 Flued Assats:
Fl ued Assets - Cos t 8,935,400 8,549,600 Less: Accumulated Dooreclation.
(3,788,60))
(3,564,200)
Con s tr uc t i on i n Pr og r e s s..................
454,100 365,500 Flwed Assets - Not 5,600,900
_ 5,350.000 Total Assets......................
110,004,500 1 9,5I0,600 LI ABILITIES AND FUW E0VITY Current Liabilltles t Ac cou n t s Pa ya b l e........
1 491,400 363,900 Customer Advances.....................
2,900 1,100 titllity Onposits Payable.
127,100 116,800 To ta l Cur ren t L i a b i l i t i es................
621,400 481,800 Payable from Restricted Assetst Accrued Interest and Comissions Payable.
2,300 Bon ds Pa y a b l e........
25,000 To t a l Paya b l e f r cvn Re s tr ic t ed As se t s...........
27,300 Other Llabilitiest Accrued Leave.
79,500 81.200 Bonds and %tes Payable....
105,500 111,500 Total Other Liabilities.................
185,000 192,700 Total Liabilities....................
806,400 701.800 Fund Eaulty:
Retained Earnings:
Reserved for!
Revenue Bonds Debt Service.
14,000 Re ve n u e Bon d s......................
75.500 75,500 Revenue Bonds Ranaval and Replac m ent.
3,024,200 2,976,600 Other.
82,100 Total Reserved.
3,181,800
?,066,100 thre s er ved......
6,016,300 5,742,700 Total fund Eaulty 9,198,I00 A,808,a00 Total Llobilities and fund Equity.
110,004,500
$ 9,510,600 D-14 The accompanying notes are en Integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA GAS FlM)
STATENENT OF REVENUES, EXPENSES AM)
CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1987 1986 Operating Revenue:
Charges for Services:
Re s i d en t i a l Sa l e s....................
1 2,082,400
$ 1,987,400 Comercia l and Industrial Sa les.............
6,459,900 6,017,100 Sa l e s to Ot h e r Fu n d s..................
68,400 104,100 Tapping Fees......................
15,900 19,7.00 La t e Fe e s........................
17,900 23,200 In i t i at ing Service.............
28, % 0 14,600 Cut-Ins and Cut-fees..................
35,400 36,400 Ot her.
12,800 16,300 Total Operating Revenues...............
8,721,000 8,218,800 Operating Expenses:
Personal Services.....................
745,000 000,800 Ga s Purchased....
5,649,300 5,471,500 Materials and Supplies.
47,400 75,000 Contractual Ser v i c e s....................
573,800 616,500 Other Expenses.......................
235,400 112,300 Less: Ap p i l e d Eq u i peen t Cha rg es..............
(61,900)
(46,500)
Depreciation.
224,300 218,300 Tota l Oper a t i ng Exp ense s................
7,413,300 7,247,900 Operating incene.
1,307,700 970,900 Nonoperating Revenues (Expenses):
Interest Revenue.
273,600 573,900 Other Revenue.
24,400 63,300 In terest and Comi ssion Expenses..............
(8,500)
(8,600)
Other Expenses.......................
(122,400)
(5,400)
Total Nonocerating Revenues (Expenses).
167,100 623,200 I n come Be f or e Oper a t i n g Tr an s f er s.............
1,474,800 1,594,100 Operating Transf ers in (Out):
Operating Transfers in.
5,300 50,000 Operating Transf ers (Out)
(1,090,800)
(1,011,400)
Net inecne.
389,300 632,700 Retained Earnings - October 1.............
8,808,800 8,176,100 Re t a i n ed E a r n i ng s - Se p t em ber 3 0...............
1 9,198,100 1 8,808,800 The accoepanying notes are an integral part of these financial statements.
0 15
CITY OF TALLAHASSEE, FLORIDA GAS FUDO STATEMENT OF CHANGES IN FINANCI AL POSITICN Fiscal Year Ended September 30 1987 1986 Sources of Working Capital Operations:
Net lncome.
$ 389,300
$ 632,700 Items Not Requiring (providing) Working Capital Depreciation.........
224,300 218,300 Accrued Leave........................
(1,700) 13,900 Wo rk i ng Ca p i ta l Prov i d ed by Op er a t ion s............
611,900 864,900 Tota l Sources of Work ing Cap l +a l............
611,900 864,900 Uses of Working Capltal Acquisition of Plant in Service.
474,300 463,800 Dec r ea se i n Bon d s Pa ya b l e............
6,000 30,500 increase in Restricted Assets................
94,600 333,500 Decrease in Payable f rom Restricted Assets..........
27,300 25,000 Total Uses of Working Capital 602,200 852r800 th t increase (Decrease) In Working Capital..
1 9,700 12,100 Eleents of Net increase (Decrease) In Working Capital:
Eau l ty in Pooled Cash.
1 195,400
$ (28,700)
Accounts Receivable.
(43,300) 11,800 in ven tory (2,800) 39,100 Accounts Payable.
(127,500) 800 Cu s tomer Ad vanc e s.....................
(1,800)
(400)
Utility Deposits Payable.
(10,300)
(10,500)
Ps t increase (Decrease) Worklag Capital 1
9,700
$ 12,100 e
D-16 The accompanying notes are an Integral part of these financlel statements.
4
'\\
s CITY OF TALLAHASSEE, FLORIDA GAS Fl#O SCHEDULE OF OPERATING EXPENSE Fiscai Year Ended September 30 1987 1986 v
Administrative and General:
Personal Services................
194,600 183,400 Con tractua l Ser vices..............
425,000 363,700
% ter ia l s and Su pp l ies................
4,300 f,100 Other Expenses....................
124,000 94,600 747,900 642,800 Peak Shaving:
3,200 5, 000 Personal Se rv i c es.
Con tr act ua l Ser v ices.................
3,800 2,300
% ter ia l s and Su pp l i es................
400 3,400 7,400 10,700 Transmission and Distribution:
Personae larvices...................
547,200 612,400 5,649,300 5.471,500 Gas Purchased.
Contesetml Service <
.'.'.1 145,000 250,*00 42,700 70.500
%terials and Supplies...
Other Expenses...................,
111,400 17,700 6.495,600 6,422,600 Les s Ap p l i ed Eq ui pren t Ch arge s..............
(51,900)
(46,500)
De pr ec i a t ion.
224,300 2f8.300 Total Operating Expense.
5 7,413,300
$ 7,24 7,900 1
I I
GAS FUDO REGULATORY SOC 7JLE OF OPERATING EXPENSE Fiscal Year Ended September 30 l
1987 1986 1
Pur c ha s e o f Gn.........
$ 5,649,300 5 3,471,500 01strIbutton2 Operating.......................
308,000 398,100 186,800 287.600 Nintenance.
l Ad m i n i s t r a t i v e......................
521,000 433,000 Automotive Equipmnt Expense.
127,200 143,200 Less
% p l i ed Eq u i pme n t Ch a rg e s.............
(122,900)
(121,400)
Depreclation 224,300 218,300 Customer Accoun ts Expense.
440,100 392, 900 79,500 24,700 Ot h e r...........................
Total Operating Expense.
1 7,413,300 1 7,247,900 i
The above schedule is presented in accordance with the Uniform Chart of Accounts as promulgated by the Federal Energy Regul atory Corvil ssion.
The accompanying notes are en Integral part of these financ'.JI statemments.
0 17
p' j
\\j 1
l[
CITY OF TALLAHASSEE, FLORIDA -
SDfER FUND 5
. BAUUCE SHEET J
September 30 1987 198 6
![, '
ASSETS Current Asedts:
s f
Eq ui ty In Pooled Cesh 1
185, OJ 173,600 Accounts Rece[vable:
< t t i.x i' Customers........................
948,500 903,300 10,200 13,500 Other..........................
Al lowance for Ibubt f ul Accoun ts.......... '
(78,200)
(71,400)
(A Nss:
- bt e l Curr en t As set s..................
1,066,100 1,019,000 Restricted Assets:
Revenue [ bods Debt Ser vice,
..\\
39,100 31,700 Equity in Pooled C %h,.
Revenue Gonds Reserve:
1,883,300 1,883,300 Equity in Pooled Cash..
Revenue Bonds Construction:
4,351,900 6,377,l00 Equity in Pooled Cash Ot her s
(
Equity In Pooled Cash.
834,100 ifs 100 425,000 Accounts Receivable.
Revenue Bonds Renewal and Replacement:
-/
6,402,900 5,844,400 Equity in Pooled Cash Sewer Line Extension and Depreciation:
1,232,400 1,421,400 Equity in Pooled Cash Sunshine State Contruc*lont Equity in Poo 4d Ca.h.
9,006,800 Tot a l Res tr i ct ed As set s.................
2 3,7.5 4AX) 16,141,000 Ot%r Assets:
Un Wetleed Bono it's m Colt 67,300 74,400 themorti ves Sunshino State Loan issue Cost.
92,000 5
Tote 0ther Assets...................
160,200 74,400 Fixed Assets:
Fi xed Assets - Cost 76,377,800 73,849,100 Less: Accumulated Depreciation.
(15,838,400) 0 4,002,800)
Con s tr uct ion I n Pr ogr e s s..................
6,617,500 4,593,100
)
Flued Asset s - Not 67,156'700 64,439,400 i
i Total Assets......................
192,131,500 581,673,800 i
)/
i l
1 0-18 The accompanying notes are an latogral part of these financial statements.
i i
nds Payable.......................
25,000 Retalnage and Accounts Payable..............
3,8 00 49,200 Total Payable from Restricted Assets...........
37,200 74,600 Other Llabilities:
1,208,200 1,219,600 Customer Contracts Payable.
cu s t omer Ad va n c es.....................
13,000 4,000 Accrued Leave.......................
136,100 130,000 7,483,700 Loan Psyable........
Bonds Jnd Notes Payable..................
6,770,100 7,0 G,600 Less: Bond Ol scount.
(32,900)
(36,400)
Total Other Liabilltles.................
15,578,200 8,341,800 i
Total Liabilities....................
16,108,100 8,800,200 l
l Fund Egalty Retained Earnings:
Reserved for Revenue Bonds......................
635,600 635,600 Revenue Bonds Construction......
3,470,200 3,427,800 Revenue Bonds Renewa l and Replac eent.
2,106,700 2,093,300 Wa te r Li n e Ext en s i on an d N pr ec i a t i on..........
609,900 233,100 Sunshine State Construction.
7,772,500 Other 123,200 Total Reserved.
14,717,100 6,389,800 9,056,500 15,114,200 Unreserved.
23,773,600 21,504,000 Total Fund Eculty Total Llabilities and Fund Eaulty
$ 39,881,700 130,304,200 i
The accompanying notes are an Integral part of these financial statements.
D-25
1 CITY OF TALLAHASSEE, FLORIDA WATER FUND STATDIENT OF REVENUES, EXPENSES AND
)
CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1987 1986 Operating Revenue:
Charges for Services:
Re si d en t i a l Sa l es...................
$ 3,992,900
$ 3,913,900 Commerc i a l a n d I n d u s t r i a l Sa l e s............
2,732,000 2,437,100 Sales to Other Funds.................
155,000 143,700 Surcharge.......................
388,100 364,400 Tapping Fees.....................
290,000 269,900 La t e F ee s.......................
7,000 9,10 0 167,700 87,100 initiating Service....
Rentals........................
52,500 52,500 Cut-Ins and Cut-fees.................
225,400 117,300 174,100 15,600 Other.........................
Tota l Operat i ng Revenues..............
8,184,700 7,410,600 Opersting Expenses:
Pe r son a l Serv i ces....................
I,534,400 1, 364,o',0 Materials and Supplies....
296,300 296,100 Contractural Servi ces........
2,396,300 2,395.700 Other Expenses......................
318,900 406,800 Less: Ap p i l ed Eq u i pment Ch arge s........
(188,100)
(212,800) 647,300 583,300 De pr ec i a t i on.......................
Amortization.
8,000 4,9 00 Tot e t Oper a t i ng Ex pen se s................
5,013,100 4,839,900 Operating Income.
3,171,600 2,571,700
%onoperating Revenues (Expenses):
Interest Revenue.....................
1,036,500 946,200 Gain on Sale of Surplus Property.
500 90 0 Ot h er Re v en u e........
656,000 18,000 Interest and Commission Expenses.............
(808,000)
(486,400)
Ot h er E x pe n se s......................
(271,000)
(6,000)
Total Nonoperating Revenues (Empenses).
6t 3,100 472,700 i n come Be f ore Oper at i ng Tr an s f er s............
3,784,700 3,044,400 Operating Transfers in (Out):
2,500 349,300 Operating Transf ers in.
Operating Transf ers (Out)
(1,517,400)
(1,331,900) 2,269,600 2,061,800 Net income.......................
Retained Earnings - October i.
21,504,000 19,209,I00 233,100 Residual Equity Transf er.
Re t a i n ed Earn i n g s - Sept amber 30.....
1 23,773,600
$21,504,000 0-26 The accompanying notes are an Integrel part of these financial statements.
i i
CITY OF TALLAHASSEE, FLORIDA WATER FUDO STATEMENT OF CHANGES IN FilMNCIAL POSITION 1
Fiscal Year Ended September 30 1987 1986 1
Sources of Working Capital:
Operat ions :
Net incme.........................
$ 2,269,600
$2,061,800 items not Requiring (providIng) Working Capital:
De pr e c i a t i on...................
647,300 583,300 Arort i za t i on.....................
8,000 4,900 Accrued Leave.......................
6,100 5,500 Wo r k i n g Ca p i t a l Prov i d ed by Operat i on s...........
2,93f,000 2,655,500 226,500 increase in Custeer Contracts Payable.....
increase in Customer Ad vances...............
9,000 233,100 Residual Eq u i t y Tr an s f er..................
19,300 increase in Payable for Restricted Assets.........
increase in Loan Payable..................
7,483,700 10,423,700 3,134,400 Total Sources of Wrking Capital..
Uses of working Capital:
Acquisition of Plant in Services..............
1,744,300 2,327,100 Decr ea se i n Bon d s Pa ya b l e..............
254,500 257,800 16,600 Decrease in Custmer Advances...............
increase i n Restr icted Assets...............
8,304,700 492,500 Decrease in Payable frm Restricted Assets.........
37,400 Increase in Loan issue Cost 79,300 Decrease in Customer Contracts Payable.........
11,400 10,431,600 3,094.000 Total Uses of Working Capital Net increase (Decrease) in working Capital.
(7,900) 1 40,400 1
El ements of Net increase (Decrease) In Working Capitals i
34,700 16,700 Equity in Pooled Cash...................
66,300 88,400 Accourts Receivable..
t?9,300)
Accoue.rs Payable.
Customer Contracts Payable.................
600 (29,000)
Ut i l i ty De po s i t s Pa ya b l e..................
(80,200)
(35,700) l Net increase (Decrease) in working Capital.......
1 (7,900) 1 40,400 1
i 1
i i
l I
The accompanying notes are en integral part of these financial statements.
D-27
)
i 1
i 1
CITY OF TALLAHASSEE, FLORIDA -
WATUt FUPO SCHEDULE OF OPERATING EXPENSE Fiscal Year frN September 30 1987 1986 Aelnistrat ive and General Personal Services......................
1 116,900
$ 174,700 1,025,600 866,600 Contractural Services....................
100 Ma ter ia l s and Supp l i es...................
Other Expenses.................
131,600 400,100 1,274,100 1,441,500 Su ppl y:
Personal Services......................
235,500 229,500 Con tr a ct ur a l Ser v i ces....................
958,900 989,600 Ma ter i a l s and Su pp l i es...................
37,500 50,400 Other Expenses.......................
1,500 1,300 1,233,400 1,270,800 Transmission and Distribution:
Per so n a l Se rv i c es......................
1,181,900 960.700 Contractural Services...............
411,800 539,500 Ma ter i a l s and Su pp l i es...................
258,800 245,600 Ot he r E xpen se s.......................
185,900 5,400 2,038,400 1,751,200 Less: Ap p l i ed EQ ul pmen t Ch ar ges..............
(188,100)
(212,800) 647,300 583,300 Depreciation Expense.
Amortiration Expense......
8,000 4,900 Total Operating Expense...
t 5,013,100
$4,838,900 WATER FUDO REGut.ATORY SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1987 1986 Prod uct ion :
Operating.........................
5 1,189,600 11,116.500 Wintenance..........
17,500 8,100 Olstribution:
Operating.........................
290,500 305,200 mintenance........................
773,100 986,600 Administrative.
846,500 853,400 Automot ive Equi pment Expense.
382,300 370,400 Less: App l ied Eaulpment Charges.
(352,400)
(532,900)
N or eciat ion.
647,300 583,300 Amortization.
8,000 4.900 j
Cu s tomer Acco un t s Ex pen se..................
1,048,300 864,900 Other...........................
162,400 278,500 Total Operating Expense...........
1 5.013,100 14,838,900 The above schedule is presented in accordance with the Uni form Systern of Accounts for Class 4 and B wa.or Utilities as promulgated by the National Assocle?lon of Re2ulatory Utility Corvnissioners.
0-2S The accompanying notes are an integral part of these financial statements.
l CITY OF TALLAHASSEE, FLORIDA AIRPGtT FUND BAUUCE SHEET September 30 1987 1986 ASSET 0 Current Assets:
Cash............................ 5 1,000 1
1,000 474,200 418.600 Equity In Pooled Cash.
Accounts Receivable Customers........................
194,400 113,100 Other..........................
218,800 227,500 Less: Al lowance for Doubtf ul Accounts..........
(34,800)
(34,000)
Inventory - Fossil Fuel..............
94,600 86,300 Total Current Assets..................
948,200 812,500 Restricted Assets:
Construction:
7,772,500 Equity in Pooled Cash Other 376,800 531,500 Equity in Pooled Cash.
Accounts Receivable...................
20,400 242,700 Renewal and Replacment:
Equity in Pooled Cash 2,418,900 1,833,600 Tot a l Restr i ct ed As set s.................
10,588,600 2,607,800 Fired Assets:
Flued Assets - Cost 17,200,700 17.087,900 Less: Ac c umu l at e d De pr ec i at ion..............
(6,447,800)
(5,851,000)
Con st r uc t i on : n Pr og r e ss..................
3.201,000 1,893,200 Flued Assets - Pest.
13,953,900 13, t 30, t 00 Total Assets...................... 525,490,700
$16,550,400 LI ABILITIES APO FUPO EQUITY Curr en t t.l abi ll t l es :
1 Accounts Payable.
136,700 92,100 1
Customer Advances.....................
11,700 11,700 Due to Other Funds.....................
1,000 1,000 Loan f rom Mun i c i pa l Ret irement Fund.
37,900 35,000 Tota l Cur rent Li a bi l i t ies................
187,300 139,800 Payable From Restricted Assets:
Retalnage Payable.........
7,900 Other Liabillfles:
Deterred Revenue.
10,000 10,200 Accrued Leeve.......................
161,500 141,200 Loan frcen Municloal Retirement Fund.
186,000 223,900 Tota l Ot her Li a bi l i t i es.................
357,500 375,300 j
Total Liabilities.................... _
552,700 515,100 Fund Equity:
Contributed Capital 20,228,800 12,674,500 l
Retained Earnings:
Reserved fort Construction.......................
372,500 Other.
397,300 774,200 Renewal and Replacement.
2,418,900 1,833,600 Total Reserved.
3,188,700 2,607.800 1,520,500 753,000 Unreserved..
i Total Fund Equity....................
24,938,000 16,035,300 Total Liabilltles and Fund Equity.
125,490,700
$16,550,400 The accompanying notes are an integral part of these financial statments.
D-29
CITY OF TALLAHASSEE, FLORIDA AIFFORT FIN)
STATDeENT OF REVENUES, EXPENSES AND CHANGES IN RETAIED EARNINGS T1 seal Year Ended September 30, 1987 1986 Operating Revenue:
Charges for Services:
Sa l e s o f Ga s and O i l...................
$1,654,800
$1,944,500 La n d i ng a n d Tl e bn Fees................
310,200 283,400 Rentals.........................
2,162,500 1,*24,100 126,800 119,700 Other..........................
To t a l Op e r a t i ng Re v e nu e s...............
4,254,300 4,271,700 Opuating Expenses:
Pe r so n a l Se rv i c e s.....................
1,195,600 1,102,700 4st er ! a l s a n d Su p p l i e s...................
87,100 77,700 Contractual Services....................
1,779,600 2,008,200 Other Expenses.......................
181,400 230,300 596,800 646,900 De pr ec ia t ion........................
Tota l Operat i ng Expenses................
3,840,500 4,065,800 413,800 205,900 Operating income (l.oss).
tenoperating Revenuns (Expenses):
731,000 294,700 I n ter est Rev enue......................
Gsin on Sale of Surplus Property.
200 7,600 20,400 Other Revenue.......................
Interest a nd Comi s s ion Expenses..............
(19,400)
(22,200)
Other Expenses.......................
(2,400)
(99,100)
Tota l %noperating Revenues ( Expenses).
716,800 184,000 i n cee Be f ore Operat i ng Tr ans f er s.............
1,130,600 389,900 Operating Transf ers in (Out):
35,000 Operating Transfers in.
(3?4,30 0)
(175,900)
Operating Transfers (Out) 806,300 249,000 Net i n cone........................
Olsposition of tet income Decrease In Contributed Capital 27,900 25,100 N pr ec i a t i on on Con tr i but e d As set s.............
514,200 522,000 Net increase in Retained Earnings............
1,348,400 796,100 3,360,800 2,564,700 Retained Earnings - October 1..
Re t a i n ed Ea rn i ng s - Septow ber 3 0...............
54,709,200
$3,360,800 4
0-30 The accompanying notes are an Integral part of these financial statesments.
l 1
l CITY OF TALLAHASSEE, FLORIDA AIRPORT FUiO STATEMENT OF CHANGES IN FINANCIAL POSITION l
September 30 1987 1986 Sources of Wrking Capital:
Operations:
Not income..........................
5 806,500
$ 249,000 Items fbt Requiring Wrking Capital:
De pr ec i a t i on........................
596,800 646,900 Ac c r ue d le a v e........................
20,400 (7,800)
Wor k i ng Ca p i t a l Prov i d ed by Opera t i on s............
t,423,500 888.100 Contributions........................
8,096,300 1,661,400 Total Sources of Working Capital.
9,519,800 2,549,500 Uses of Working Capital:
Acquisttlon of Plant i n Se rv i c e...............
1,420,500 1,977,200 Decr ea se i n De f err ed Reven ue.................
200 1,30 0 25,200 Re d uct l on i n Con tr i buted Ca p i t a l..........
increase in Restricted Assets................
7,980,900 622,200 Reduction of Loan fecrn Municipal Retirement Fund.
37,9 00 35,000 To t a l uses of Wor k i ng Ca pi t a l...........
9,439,500 2,560,900 Net increase (Decrease) In Working Capital.....
5 80,300
$ (11,400)
Elements of Not increase (Decrease) In working Capital:
Equity in Pooled Cash.
55,600
$ 111,800 Accounts Receivable...
71,900 (80,200)
Inventory 8,300 (47,300)
Accounts Payable.
(52,500) 7,000 Loan from Municipal Retirement Fund.
(3,000)
(2,700) tet increase (Decrease) erking Capital.......
80,300 1 (11,400) l l
i 1
The accompanying notes are an Integral part of these financial statements.
0-31
CITY OF TALLAHASSEE, FLORIDA AIRPGtT FUIO SCHEDULE OF OPERATlNG EFENSE Fiscal Year Ended September 30 1987 1986 Adelnistrative and General:
Personal Services.....................
1 131,000 1 121,100 Contractual Services...................
239,500 154,000 Materials and Supplles..................
2,000 1,900 Other Expenses......................
174,200 110,100 i
546,700 387,100 Public Saf ety - Fire:
Personal Services.....................
306,200 252,500 Contractual Services...................
10,700 10,000 500 Ma t er i a l s and Su pp l i e s..................
other Expenses......................
400 200 317,300 263,200 Airport Patrol Personal Services.....................
167,900 169,800 Contractual Services...................
3.700 3,900 Materials and Supplies..................
400 600 400 Ot h e r E x pe n s e s......................
172,000 174,700 Flightline Pe r so n a l Se rv i c e s.....................
334,900 310,300 Contractual Services...................
1,201,800 1,511,700 Materials and Supplies..................
9,000 5,900 Ot he r E x pen s es......................
3,100 119,500 1,548,800 1,947,400 Bull ding Maintenance Personal Services.....................
132,100 141,300 Contractual Services...................
234,200 240,400 Materials and Supplies..................
30,000 35,300 396,300 417,000 Base Maintenance:
Personal Services.....................
123,500 107.700 Contractual Services...................
89,700 88,200 Materials and Supolles..................
45,700 33,500 other Expenses......................
3,700 100 262,600 229,500 l
N pr ec l a t i on...............
596,800
__ 646,900 Total Operating Espense.
13,840,500 54,065,800 i
l 0 32 The accompanying notes are an integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT BALMCE SEET September 30 1987 1986 ASSETS Current Assets:
Cash 5
2,900 5
2,900 831,100 782,300 Eq ui ty i n Pooled Cas h..
Accounts Receivable:
Customers..........................
70,600 108,300 64,300 20,500 Other............................
inventory:
Fossil Fuel 17,600 11,600 288,300 273,600 Other.
Total Current Assets....................
1,274,800 1,199,200 Flxed Assets:
Fixed Assets - Cost.
10,662,000 10,849,900 Less: Accumulated Depreciation......
(2,701,500)
(2,344,900)
Con struct i on i n Progress...................
530,800 719,000 Flued Assets - Net.
8,491,300 9,224,000 Total Assets........................
5 9,766,100 510,423,200 LIABILITIES AND FUm EQUITY Curren t Liabilities:
Accounts Payable...............
5 48,900 5
67,500 Customer Advances 16,300 52,000 Due to Other Funds......................
2,000 2,900 Total Current Liabilities.................
68,100 122,400 Other Liabilities:
De f er r ed Rev en ue.......................
7,300 7,800 Acc r ue d le a v e.........................
133,300 129,400 Total Other Liabilities.....
140,600 136,200 Tot a l L l a b i l i t i e s.....................
208,700 258,600 Fund Eaulty:
Contributed Capital......................
9,677,200 10,029,400 Retained Earnings:
Re serv ed f or Pr oj e ct s....................
63,300 61,300 threserved.
(183,100) 73,900 Total Fund Eaulty.
9,557,400 10,164,600 c........
Tota l Llabilities and Fund Eaulty.
5 9,766,100 510,423,200 The accompanying notes are an Integral part of these financial statements.
0-33
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUM)
{
STATEMENT OF REVENUES, EJIPENSES AM)
CHANGES IN RETAIED EARNINGS Fiscal Year Ended Septeber 30 1987 1986 Operating Revenues:
Tr a n s po rt a t i on Fe es....................
$1,319,500 11,118,700 Tot a l Oper a t i ng Reven ue s.................
1,319,500 1,118,700 Operating Expenses:
Personal Services.....................
2,339,000 2,179,400 Materials and Supplies...................
366,800 385,200 Contractual Services....................
671,300 640,200 Ot he r Ex pen s e s.......................
73,900 80,500 Depreciation........................
552,900 428,600 Total Operating enses.................
4,003,900 3,713,900 (2,684,400)
(2,595,200)
Operating Loss.
tbnoperating Revenues (Expenses):
Gr a n t Re v enu e.......................
770,000 1,040,900 500 10,200 Ot he r Reven ue.......................
Loss on Sale of Surplus Property.
(193,300)
Ot he r E x pe n se s.......................
(77,700)
(41,500)
Total Nonoperating Revenues...............
499,5CO 1,009,600 Los s Be f or e Oper at i ng Tra ns f ers.............
( 2, t 8 4,900)
(1,505,600)
Operating Transf ers:
1,507,700 1,204,800 Operating Transfers in.
Operating Transf ers (Out)
(62,000)
Net (Loss).
(739,200)
(380,900)
Olsposition of tet incomes increase in Contributed Capital (60,300)
(62,500)
Depr eci at ion on Con tri buted As set s.............
54 4,500 421,300 Net (Decrease) I n Reta i n ed Ea r n i ng s...........
(255,000)
(22,000)
Retsined Earnings - October 1................
135,200 157,200 Retained Earnings - September 30...............
5 (119,800)
$ 135,200 D-34 The accompanying notes are an Integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUDO STATEMENT dF CHANGES IN FINANCIAL POSITION i
I Fiscal Year Ended September 30 1987 1986 Sources of Working Capital:
Operations:
5 (739,200) 5 (380,800)
Net income (Loss)
Items Not Requiring (providing) Working Capital:
Depreciation.
552,900 429,600 Ac c ru e d le a v e........................
4,900 10,400 Working Capital Provided by Operations..........
(181,400) 58,200 Contributions.......................
131,900 396,700 Retirement of Plant in Service...............
244,800 Tota l Sources of Working Capita l...........
195,300 454,900 Uses of Working Capital:
Acquisttlon of Plant in Service..............
64,900 491,600 Decrea se I n De t erred Revenue................
500 8.700 Total Uses of working Capital.
65,400 500,300 Net increase (Decrease) In Working Capital....
1 129.%0 1 (45,400)
Elements of Net increase (Decrease) In Working Capital:
5 1,600 Cash.
5 Equity in Pooled Cash 48,800 1,280,300 Accounts Receivable...
6,100 (1,383,400)
Inventory 20,700 48,600 Acc oun t s P a y a b l e....................
18,600 21,200 Customer Advances......................
35,700 (14,100)
Due t o Ot he r F un d s......................
(1,600)
Not increase (Decrease) In Warking Capital...
1 129,900 1
(45,400) i l
1 4
1 l
The accompanying notes are an integral part of these financial statements.
D-35
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUBO SO4EDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1987 1986 Adelnistrative and General:
Per son a l Serv i ces....................
5 265,600
$ 243,000 Cont r act ua l Ser vl e es..................
255,500 247.700 Ma t er i a l s and S u pp l i es.................
13,000 12,500 Other..........................
72,000 80,100 606,100 583,300 Operations:
P er sona l Serv i ces....................
1,656,300 1,546,100 Con t r actua l S er vi c es..................
130,500 152,500 Materials and Supplies.................
315,200 343,200 Other..........................
800 2,102,800 2,041,800 Malntenance:
Person a l Serv i ces....................
417,100 390,300 Con t r act ua l S er vi ces..................
285,300 240,000 Ma ter i a l s and Su pp l i es.................
38,6 00 29,500 Other..........................
1,100 400 742,100 660,200 Depreciation............
552,900 428,600 Total Operating Expense 54,003,900 53,713,900 i
I l
0-36 The accompanying notes are an Integral part of these financlel statements.
~ _
l INTERNAL SERVICE FUNDS l
Reading, Billing and Collection Fund-to account for the cost of reading, billing and collecting services provided to the various enterprise funds.
Data Processing Fund-to account for the costs of the City's data pro-cessing ooeration.
l Accounting Fund-to account for the costs of the City's accounting operation, i
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 pur-chasing operation.
Garage Fund-to account for the costs of maintaining and providing for j
l replacement of automotive equipment used by City departments.
1 Human Resources Fund-to account for the costs of thw City's human i
resource operation.
i Pension Administration Fund-to account for the costs of administering the City's pension plans.
l Risk Management Fund-to account for the costs of the City's risk management operation.
I l
\\
i
{
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TRUST AND AGENCY FUNDS Pension Trust Funds Defined Benefit Funds-to account for the accumulation of resources to be used for retirement annuity payments at appropriate amounts and times in the future for City employees. There are two Police Officers' Pension Funds. The smaller of the two funds accounts for a retirement fund closed to participation and involves only retired lives. Four separate funds are maintained for the respective employee groups:
City Employees' Pension Fund-Article ll Police Officers' Pension Fund-Article 111 Firefighters' Pension Fund-Article IV Police Officers' Pension Fund-Article V Defined Contribution Funds-to account for the accumulation of resources to be used for retire-ment annuity payments predicated on the amount contributed. Three separate funds are main-tained for the respective employee groups:
City Employees' Defined Contribution Fund-Article ll Police Officers' Defined Contribution Fund-Article 111 Firefighters' Defined Contribution Fund-Article IV Expendable Trust Funds Special Capital Projects Fund-to provide a means of financing long-term Capital Protects whde minimizing impact on the Operating Budget.
Deficiencies and Emergencies Fund-to provide for unforeseen expenditures of an emergency i
nature.
I Stadiurn Fund-to account for the operation, maintenance, and improvements at the City's Athletic Stadium. Operation and maintenance are funded by the City, Leon County and the Leon County School Board, improvements are funded by monies collected at the stadium Downtown Improvement Authority Fund-to account for the monies appropriated to Downtown improvement Authority, an agency created by the Florida Legislature to regulate downtown growth.
Nonexpendable Trust Fund Cemetery Perpetual Care Fund-to accumulate resources for the perpetual maintenance of the City's cemeteries.
Agency Fund Deferred Compensation Fund-to account for assets held by the City as agent for City employees.
3
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=
4 TRUST FHIOS CGEINING BAUJCE SEET September 30, 1967 i
i Pension Trust Funds 4
City Police City Police Police Empl oyee s' Officers' Onployees '
0f ficers' Firefighters' Officers' De f i n ed De f i n ed
]
Pension Pension Pension Pension Contribution Contributton j
Article 11 Article ill Article IV N-ticle y Article 11 Article g li ASSETS Equity in Pooled Cash.
1 5,765,500 $
958,100 $
873.400
$154,200 2,200 400 investments............
81,056,900 16,486,000 16,972,200 95,000 4,430,300 865,200 i
Accrued Interest Receivable...
1,700 500 500 Accounts Receivable...
54,400 103,000 46,900 Kates Receivable.........
223,900 Advance to Other Funds......
~~
Total Assets..........
587,102,400 $ 17,54 7,600 117,893,000 1249,200 54,432,500 1865,600 LI ABILITIES AND FUMD BALANCES Llabilities Accounts Payable.
1 2,400 $
Ad vance f rom Oth er Funds....
==
Deferred Compensation Payable.
Deterred Revenue........
)
i Total Llabilities.....
2,4 00 Fund Balances:
i s
Reserved for:
Employee Retirement Plans...
87,100,000 17,547,600 17,893,000 249,200 4,43k,500 665,600 Enc umbrances.........
Advance to Other Funds....
Stadlum le pr ov emen t s.....
i Stad i um Opera tions......
~~
Total Reserved.
87,100,000 17,547,600 17,893,000
,j[4 9,,200 d,4 32,500 860.00 k
unr es.r ved :
Designated fort San i ta t ion Ann exat i on l
Housing Development Corporation.
Total Designated.
i Undesignated.
Total unreserved.
i Total Fund Balances....
87,100,000 17,547,600 17,893,000 249,200 4,432,500 B6 5,600 Total Liabilities and Fund l
r Balances..........
187,102,400 $ 17,54 7,600 $l7,893,000 5249,200 14.432,500 1865,600 5
I F-2 The accompanying notes are an intgrei part of these financial statements.
4 1
i
l Pbnox p end ab l e Nency Erpendable Trust Funds Trust Fund Fund F1retighters' D: fined Sp ec i al Deficiencies Downtown Cemetery Deferred Totals Contribution Capital and improvement Perpet-Com-Sept e ber September Article ly Proj ect s Emergencies Stadium Author i ty ual Care pensation 30, 1997 30, 1986 1 30,977,600 $ 28,69f,400 5
400
$12,841,600 1 7,619,800
$37,300
$173,500
$551,200 $
2,574,000 123,177,200 99,i15,400 697,600 2,700 13,500 815,200 719,800 582,200 28,700 223,900 318,900 500,000 500,000 1698,000 112,841,600 110,702,000
$66,000 1173,500 5551,200 $2,574,000 $ 19 5,69 6,600 1128,854,000 5
2,400 1 2,500 5
1 5
5 5
25.900 85,900 25,900 2,574,000 2,574,000 1,943,000 60,000 25,900 2,574,00_0 2,602,3_00, 1,991,400 4
d 128,785,900 99,614,700
)
698,000 6,900 6,900 10,100 500,000 500,000 45,300 45,300 41,500 13,800 13,800 11,000
~
698,000 500,000 66,000 129,351,900 99,677,300 1,750,200 1,750,200 1,750,200 993,800 993,800 493,800 70,500 70,500 2,814,500 2.814,500 2,244,000 12,841,600 7,397,500
!47,600 551,200 20,927,900 24,951,300 12,841,600 10,202,000 147,600 551,200 23,742,400 27,195,300 699,000 12,841,600 10,702,000 66,000 147,600 551,200 153,094,300 126,872,600 1699,000 112,841,600 110,702,000 566,000 1173,500 1551,200 $2,574,000 5155,696,600 5129,864,000 F-3
i uw CITY OF TALLAHASSEE, FLORIDA
~
PtMSION 1 RUST AfE3 NOIEJIPt8EMBL.E THUST f UIOS COpeltN!NG STAIENENT OF REVENUES, EJIPENSES As0 OMauCES IN f UBO BALASCES for the Fiscal Year Ended Septaminer 30, 1987 e
Nunerpendable Pension Trust Funds Trust F g City Pblice Clty Police Poisco Employees' Officers' Firefaghters' 7
4 Employees' Of f icers' firefighters' Officers' Defined Deilnad DetInci Cemetery To t a l +.,
Pension Pension Pension Petslon Contribu+.on Contribution Contribution Perpetual September September l
Article II kticle til kticle IW k ticle V kticlo g &ticle lla k ticle IV Care 30, 1987 30,f986 Oper at i ng Revenues:
l Investment income.
1 5,666,000 $
714,900,5 1,733,200 s 21,000 1 185,800 5 34,700 5 28,900 s 39,500 1 8,423,000 5 4,560,100 investment - Gsins Nat 10,113,000 2,464,003 '
I,536,900 700 14,114,600 7,180,500 City Contribution.
4,589,100 811,800 045,300 349,900 60,600 45,600 6,802,300 5,822,700 imployee Contribution.
2,417,500 339,900 269,700 1,237,800 233,400 194,900 4,688,200 4,386,500 state Contribution.
56,700 44,900 101,600 529,700 Miscellaneous.....
9,100 12,700 21,600 240,500 Total Operating Revenues.....
22,7W,700 4,387,300 4,530,000 21,700 1,708,500 328,700 269,400 51,200 34,151,500 22,720,100 Operating Expenses:
Benefit Payments...
2,349,900 313,400 556,100 16,800 2/,800 3,264,000 2.920,300 Refunds........
640,300 58,000 20,900 196,900 18,100 19,600 953,800 606,700 a nsur ance.
22,800 1,300 1,000 25,100 229,200 A1ministratIve....
487,600 89,200 94,800 13,500 2,200 1,900 686,200 614,300 Total Operating Enpenses.....
3,500,600 461,900 669,800 16,800 238,200 20,300 21,500 4,929,100 4,370,500 lacome Bef ore Operating transfer 19,294,100 3,925,400 3,860,200 4,900 1,530,300 308,400 247,900 51,200 29,222,400 18,349,600'
~
Operating Transfers in.
3,000 13,000) 500,006, Net income.
19,297,300 3,922,400 3,860,200 4,900 1,530,300 308,400 247,900 58,200 29,222,400 18,849,6C5 Fund ILilances -
October I 67,802,000 13,625,200 14.032,800 244,500 2,902,200 557,200 450,100 500.000 100,114,73 81,269,100 Fund B. stances -
September 30.....
187,100,000 117,547,600 117,893,000 1249,200 14,432,500 5865,600
$699,000 5551,200
$129,357,100 1I00,114,700 The accompanying notes are am Integral part of'tteese ffc.enclat statements.
l l
'~-
CITY OF TALLAHASSEE, FLGRIDA PENet0N TRUST AhD NOEXPEMMBLE TRUST Flmes
~
C000lNt*<> STATOGENT OF CHANGES IN FINANCf AL POSITION fctIthe Fiscal Year Ended September 30, 1967 l
-f4onexp***O bie
_j oesion Trust funds Trust _tfug 6
City-Pc're C +v Police Police Emp 6,ees*
Of*,cers' Firefighters' Empfojees' Officers' Firefighters' Officers' Defir.sd Defin'.d
. Defined Cemetery Totals Fension Pension
- Penslor, Pension Contribution Contribut hn Co<'tribution I"erpetuai September September Article II 1 *,1cle til Article IV Article V Article 11 Articio
J Article IV Care
- _30, a987 30,19A" s
Sourcos of terking Capital:
Opera t ic.: ::
- 4,900
$1,530,300 5'08,400 5247,900 55!,200 529,222,400 518,849,600 Net incone........
519,297,100 53,922,400
%,L30,;00 Decrease in Long-t ym Portion of Note Receivsble.'.
35,000 35,000 32,300 tut indreah in Working Capffal.......
119,332,100 13,922,400
'23,860,200 5 4,000 51,530,300 5308,400 5247,000 ' 5 21,2M.
529,251,400
$ ? 8,881,90,
\\s
's
--s._
(~
V Elements of t4t increase in x
Working Capital:
~
$ 705,40')
5 0,300) 5 3,600 5 1,000 5
500 551,200
$ 9,850,600 5
(6",600)
Equity in Pooled Cash 1 4,226,100 5 809,100 a
investments at Cost 15,114,300 3,014',2 4' 3.110,600
!0,200
!,526,700 307,400
'-247,400
'23,330,800 18,973,000 At.crued interest Receivable 200 (11,000)
~
(10,800)
(f0,00C' Accounts Receivable.
( 8,6'J0) 51,10C['
44,200 86,700 (15,500) x L
P c _,'ats Payable.
iOO 100 7
N' t4 t Increase in Working Capita!
519,332,100 53,922.400 13,860,200 5 4,900 51,530,300 5308,400 1247,900
'551,200 (29,257,400 Sly,881,900
\\
I' 1
The accompanying notas are an Integral part of these financial statements.
s-s
\\
^~s i
CITY OF TALLAHASSEE, FLORIDA EXPEWA8tE TRUST FUNDS COMBINils STATEMENT OF REVENUES, EXPENDITtRES Am C)MNGES IN FUE BALANCE For the Fiscal Year Ended September 30, 1987 Special Special Deficiencies Downtown Tota ls Capital Insurance and improvement Septmber Sept em < r Project; Reserve Emergencies Stadium Authority
- 30. 1987 30, 1986 Revenues:
$ 71,300 $
71,300 $
67,800 1
Taxes............ $
, 56,000 56,000 2,341,100 Intergovernme stal Revenues.
e 19,600 15,000
-19,600 Charges for Services....
Interest 1,021,700 673,300 3,500 11,600 1,710,100 3,189,700
)
%,000
%,000 332,400 Miscellaneous........
Tota l Revenues......
1,021,700 673,300 79,100 178,900 1,953,000 5,946,000 Expenditures Current:
General Government.
68,500 68,500 85,000 75,700 75,700 78,100 Cultura and Recreation...
Total Expenditures...
75,700 68,500 144,200 163,100 Excess Revenues Over 673,300 3,400 110,400 1,808,800
'i,782,900 (Under) Expendi tures..
1,021,700 Other Financing Sources (Uses):
Proceeds from Sale 25,000 of Property 664,000 3,581,100 Operating Transf ers in.
664,000 Operating Transfers (Out).
(4,580,000)
(4,580,000) (9,086,8001 Total Other (3,916,000) (5,480,700)
Financing Sources....
(4,580,000) 664,000 Excess of Revenuet and Other Sources (Uses) 1,33~ 300 3,400 110,400 (2,107,200) 302,200 Over(Under) Expenditures (3,558,300)
Fund Balances - October 1 16,399,900 893,500 9,364,700 62,600 37,200 26,757,900 26,455,700 (893,500)
(893,500?
Residual Eoulty Transfer..
Fund Balances - Septenber 30
$12,841,600 $
-- $10,70 2,000
$66,000 $ 14 7,600 $2 3,757,200 $26,757,900
=
F-6 The accompanying notes are an Integral part of these financial statements.
W m
CITY OF TALLAHASSEE, FLORIDA l.
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES DEFERRED COPENSATION FUle.
For Fiscal Year Ended September 30, 1987 Balance Balance October 1, 1986 M 11 tion s Deductions Se ptember 30, 1987 ASSETS Investments.........
$ 1,843,000 756,900 1
25,900
$ 2,574,000 Tot a l As set s........
1, G4 3,000 756,900 25,900 1 2,574,000 LIABILITIES Deferred Compensation Payable 5
1,843,000
-755,900 1
25,900 1 2,574,000 Total Liabilities.....
$ 1,843,000 1
756,900 1
25,900
$ 2,574,000 i
I l
a The acccnpanying notes are an Integral part of these financial statements.
F-7
)
- =.,.
THIS PAGE INTENTIONALLY LEFT BLANK
1 GENERAL FIXED ASSETS i
ACCOUNT GROUP To account for fixed assets not used in Proprietary Fund operations or accounted for in Trust Funds.
)
CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF GENERAL FlXED ASSETS - BY S0mCES September 30 1987 1986 General Fixed #3setst
$ 6,920,000
$ 5,754,800 Land.
Buildings...........................
20,247,100 21,043,200 Improvements other than Buildings...............
4,894,400 4,888,400 11,937,700 10,377,000 Equipment.
Construction In Progress....................
10,789,700 4,448,100 Tot a l Genera l F i xed As sei s..................
154,788,900
$4 6,511,500 investment in General Fixed Assets from:
Ge ner a l Rev en u e Bon d s.....................
522,025,000
$20,4 87,800 General Fund Revenues.....................
17,655,600 15,719,800 Grants...............
4,539,500 4,539,500 Capital impro/ement Fund.
9,840,200 5,035,800 453,100 453,100 Gifts.............................
Stadi um Fund.
275,500 275,500 Totat Investment in General Fixed Assets...
154,788,900 146.511,500 1
1 l
l l
i I
The accompanying notes are an integral pvt of these financial statement G-1
CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF GENERAL FlXED ASSETS -
BY Ft#CTION AM) ACTIVITY For the Fiscal Year Ended Septeober 30, 1967 Improvements Other Than Total Land _
Bu il d i n9s Buildings Equipment General Government:
Control 5
18,200 5
1 City (bmission.
5 18,200 5
43,700 City Manager 43,700 72,300 149,600 City Treasurer-clerk 221,900 10,300 Ci ty Auditor 10,300 72,300 221,800 Total Control 294,100 Statf Agencies:
.23,400 Management and Budget 23,400 9,200 Minority Business....
9,200 7,600 7,600 Gran+s Managment 7,t00 Comunity Llaison Of fice.
7,100 172,100 Engineering.......
172,100 20,900 Public In fornstion.
20,900 16,200 Code Enforement.
16,200 General Government Building........
22,056,700 3,795,200 11,661,300 2,614,600 3,965,600 Comunity Development 2,381,600 251,600 1,941,000 7,100 181,900 Total Staf f Agencies..
24,674,800 4,046,800 13,602,300 2,621,700 4,404,000 Total General Government 24,968,900 4,046,800 13,602,300 2,694,000 4,625,800 PubilC Safety Fire Protection.
3,981,700 342,500 1,585,200 27,900 2,026,100 Police Protection.
3,422,600 500,000 1,217,700 66,000 1,638,900 57,300 Bu l l d l e.,
inspection.
57,300 Comun icat ion s......
363,400 363,400 Tota l Pub il e Sa f ety 7,825,000 842,500 2,802,900 95,900 4,085,700 112,100 692,400 Highways and Streets....
804,500 1,573,200 Sanitation..
1,853,200 280,000 Recreation......
8,405,500 2,030,700 3,542,000 1,934,200 898,600 Cemeteries.........
142,100 19,900 60,100 62,100 Total General Fixed Assets Al located to Functions......
43,999,200 56,920,000
$20,247,100 54,394,300 511,937,800
==
Construction in Process...
10,789,700 Total General Flxed Assets........
554,788,900 G-2 The accompenying notes are an Integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY FUNCTION APO ACTIVITY For the Year Ended September 30, 1987 General Addittuns Deductions General Fixed Assets And And Flxed Assets October 1, 1986 Transfers in Transf ers Out September 30, 1987 General Government:
Control:
Ci ty Commi s s ion.
5 17,800 5
400 5
5 18,200 City Manager.
541,400 2,500 500,200 43,700 City Treasurer-Clerk 221,500 17,8 00 17,400 221,900 Ci ty Auditor.
10,000 500 200 10,300 Total Control 790,700 21,200 517,8 00 294,100 Staf f Acencies:
Management and Budget.
22,700 700 23,400 Minori ty Bus i nes s......
9,300 9,200 9,300 9,200 Energy Office.
2,8 00 2,800 Grants Management.
7,200 600 200 7,600 Ccmmunity Lla t son Of f ice.
5,900 1,200 7,100 Engineering...
174,700 1,500 4,100 172,100 Public information.
24,500 3,600 20,900 Code En f orcement 16,200 16,200 General Government Buil di ng.
19,983,800 2,701,000 648,100 22,0 36,700 Community Development.
2,332,700 116,600 67,700 2,381,600 Total Staf f Agercles.
22,579,800 2,830,800 735,800 24,674,800 Public Safety:
Fire Protection.
3,956,300 41,600 16,200 3,981,700 Police Protection.
3,431,000 195,200 203,600 3,422,600 Bullding Inspection.
54,500 2,800 57,300 Comn 1 cat i on s.........
302,900 67,500 7,000 363,400 Tot si Pubile Saf ety 7,744,700 307,100 226,8 00 7,825,000 Highways and Streets......
765,400 129,900 90,800 804,500 Sanitation.
1,833,600 19,600 1,853,200 Recrestton..
8,213,900 199,800 8,200 8,405,500 Cemeterles...........
135,300 26,000 19,200 142,100 Construction i n Progr es s....
4,448,100 7,947,800 1,606,200 10,789,700 Total General Flxed Assets.
146,511,500 111,482,200 53,204,800 154,788,900 The accompanying notes are an Integral part of these financial statements.
G-3
THIS PAGE INTENTIONALLY LEFT BLANK
GENERAL LONG-TERM DEBT ACCOUNT GROUP To account for general long-term liabilities not accounted for in proprietary funds and trust funds.
CITY OF TALLAHASSEE, FLORIDA STATEMENT OF GENERAL LONG-TERM DEBT September 30 1987 1986 Amount Avalf able and To (3e Provided For the Payment of General Long-Term Ocbt:
knount Available in Debt Service Fund.
. $ 6,825,600
$ 5,638,300 Amount To Be Provided:
Loan Payable 2,022,000 Accrued Leave.
2,280,200 2,504,700 Notes Payable.....................
2,000,000 Certificates Psyable.
24,900 39,500 Capital Ref unding Bonds, Series 1984 13,779,400 14,966,700 Tot a l To Be Provided.
18,106,500 19,510,900 Total Avallable and To Be Provided.......... $24,932,100
$25,149,200 General Lon g-Te rm Deb t P.3 yab l e :
Loan Payable.
.............. $ 2,022,000 Accrued Leave..
2,280,200
$ 2,504,700 Note Payable.
2,000,000 Certi ficates Psyable.
24,900 39,500 Capi t ai Asf undi ng Bonds, Series 1934 20,605,000 20,605,000 Total Generst Long-Term Debt Payabl e.
. $24,932,100
$ 2 5,14 9,200 The accompanying notes are an Integral part of these financial statements H-1
THIS PAGE INTENTIONALLY LEFT BLANK
STATISTICAL SECTION Statistical schedules differ from financial statements because they usually cover more than one fiscal year and may present non accounting data.
These schedules reflect social and economic data, and financial trends of the government.
CITY OF TALLAHASSEE, FLORIDA C004ENTS ON THE STATISTICAL SECTION September 30, 1987 Th e followi ng statistical tables recommend ed by the National Council on Governmental Accounting are not included for the reasons stated below:
a) Tables which concern general obilgation debt are omitted because the City has no general obilgation debt.
The City does have general revenue bonds which are not general obilgstion debt and these corresponding tables are included.
b) Ten year debt services coverage schedules for enterprise revenue bonds h ave not been prepared. D;e to ref undings of the mjority of outstanding City bonds in 1977 and the a,ount of additional bonds issued since that year, they would be conf using to the reader. The Ci ty enjoys high bond ratings, and its coverage has been adequate to sustain these ratings.
In several cases, its ratings have increased.
Additional schedules which are felt to be useful to va r iou s users, principally investors, underwriters, and rating agencies, have been i nc l ud ed in this section.
1-1
[
CITY OF TALLAHASSEE, FLORIDA CENERAL COVERfe4ENT EXPENDITLEES BY FUNCTION tast Ten Fiscal Years Culture Fiscal General Public Human Economic Physical and Year Government Sa f e ty Tr ans porta t ion Services Envircnment Env i ronment Recreation Transfers Out Total ( 13 1978 55,899,400 1 5,713,000 51,624,000
$129,700 5 67,500 53,014,700 51,722,700 5 6,I50,800 524,321,800 1979 5,166,000 6,768,200 1,960,700 179,600 285,200 3,605,400 1,866,300 5,10I,000 24.932,400 1980 7,719,600 7,651,500 2,287,900 213,600 351,800 3,813,700 2,196,900 2,950,000 27,185,000 l
1981 9,564,900 8,882,500 2,678,200 272,000 306,400 4,224,900 2,465,600 6,731,800 35,126,100 1982 5,122,800 9,890,700 3,086,000 286,000 250,800 4,869,000 3,205,200 9,74I,700 36,452,200 1983 4,743,000 11,603,000 4,326,200 577,900 165,800 4,864,300 3,686,700 14,812,300 44,779,200 1984 5,346,300 13,794.800 5,602,800 812,300 243,900 5,481,900 4,006,500 13,055,100 48,343,600 1985 5,508,700 15,954,700 6,241,700 850,000 244,000 5,723,600 4,170,600 11,768,900 50,442,200 19eo 6,165,000 16,346,800 5,998,200 914,800 256,700 5,578,200 4,570,800 17,833,800 57,66'3,600 1987 6,660,900 18,113,100 7,053,700 989,100 264,700 7,516,700 4,719,900 14,151,600 59,469,700 CENERAL REVENUES BY SOLECE Last Ten Fiscal Years Licenses Fines Charges Intergov-Fiscal and and for ernmental Miscettaneous Trans f ers Total,(II Year Taxes Permits Forfelts Services Interest Revenues Revenues In Revenue 1978 5 5,664,800 5 653,200 5259,400 52,397,I00
$184,200 5 5,237,200 5292,200 5 8,337,700 525,025,700 1979 5,950,400 783,600 293,600 2,401,600 341,100 6,283,400 509,300 8,160,000 24,723,000 1980 6,569,600 895,000 287,600 2,652,800 648,100 5,941,700 152,200 10,175,000 27,322,000 1981 7,325,000 981,I00 249,600 2,826,100 843,500 6,031,800 147,300 16,500,000 34,904,400 1982 8,210,400 1,050,300 274,200
- 2,919,000 517,400 5,947,100 106,500 17,563,300 36,588,200 1983 8,595,100 1,719,800 389,500 3,540,200 665,800 8,288,900 129,900 21,754,800 45,084,000 1984 10,434,300 1,256,900 454,300 3,625,300 663,700 10,039,600 501,900 22,476,500 49,452,500 1985 10,973,100 850,400 485,200 4,143,900 434,000 10,136,500 266,500 22,733,700 50,023,300 1986 13,443,700 1,102,500 591,600 6,610,100 503,200 7,501,000 870,200 28,59I,500 59,213,800 1937 14,380,100 997,400 751,900 8,809,400 298,400 7,710,200 826,400 25,399,700 59,173,500 l
(I) includes General Fund only.
1
CITY OF TALLAHASSEE, FLORIDA PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Fiscal Years Total Ta xabl e Fiscal Assessed Assessed Year Valuation Va l uat ion Levy Collection Percent (1) 1978 1,619,802.000 767,861,000 2,687,500 2,605,800 97 1979 1,707,374,200 835,812,600 2,757,900 2,664,900 97 1980 1,812,233,400 877,107,600 3,069,900 2,971,800 96 1981 2,234,694,600 1,133,300,400 3,168,700 3,061,400 1982 2,673,105,800 1,358,118,400 3,550,t00 3,458,200 97 1983 2,782,858,100 1,418,980,300 3,706,400 3,597,900 97 1984 3,281,661,000 1,812,714,500 4,582,500 4,459,500 98 1985 3,438,932,300 1,976,951,300 4,918,700 4,799,500 98 1986 3,630,822,400 2,121,548,700 5,278,400 5,140,700 97 1987 3,834,850,400 2,278,953,600 5,670,100 5,500,000 97
( 1)
Florida Statutes provide for a discount of up to four percent for early payment of ad valor e taxes.
Al l unpaid taxes become delinquent on April 1, a nd ar e so l d a t auction on June 1 of each year as tax certificates.
Th e City, after all tax certificates are sold, has fully co l l ect ed a l l ad valorem tax rev e nu es.
1-3
{
CITY OF TALLAHASSEE, FLORIDA ASSESSED AM) ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY tast Ten Fiscal Years Ratio of Total Raal Property Personal Property Centrally Assessed Totals Assessed Estimated Estimoted Estimated Estimated to Total Fiscal Assessed Actual Assessed Actual Assessed Actual Assessed Actual Estimated Year Va l ue Va l ue Va l ue Va l ue Va l ue Va l ue Va l ue Va lue Actual Value 1979 11,523,381,600 $1,503,842,700 1295,163,000 1335,412,500 11,257,400 11,429,900 51,619,802.000 51,840,684,100 885 1979 1,395,453,100 I,58%,742,200 310,688,500 353,055,100 1,232,600 1,400,700 1,707,374,200 1,940,199,000 881 1960 1,475,325,700 1,676,506,500 335,640,800 381,410,000 1,266,900 1,439,700 1,012,233,400 2,059,356,200 885 1981 1,871,964,200 2.127,232,000 361,506,000 4l0,802,300 1,224,400 1,391,400 2,234,694,600 2,539,425,700 88%
1982 2,208,638,800 2,598,398,600 463,208,800 544,951,500 1,259,200 1,480,200 2,673,105,800 3,144,830,300 855 1983 2,380,150,300 2,800,176,800 401,769,800 472,670,400 938,000 1,103,500 2,782,858,100 3,273,950,700 85%
1984 2,870,509,100 3,501,085,5&)
410,125,400 471,644,200 1,026,500 1,180,500 3,281,661,000 3,775,910,200 871 1785 3,011,116,200 3,542,489,600 426,460,200 501,717,900 1,355,900 1,595,200 3,438,932,300 4,045,802,700 855 1966 3,198,139,500 3,754,281,800 438,363,200 515,721,400 1,319,700 1,552,600 3,630,822,400 4,271,555,800 855 l
1987 3,373,832,405 3,969,214,600 459,105,321 540,123,900 1,912,751 2,250,300 3,834,850,500 4,511.588,800 855 Sourc e: Leon Count y Property Appraiser
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CITY OF TALLAHASSEE, FLORIDA PROPERTY TAX RATES - ALL OYmLAPPING G)VER*ENTS (Per $1000)
Last Teo Fiscal Years City of Tallahassee County School Board Leon County N.W. Water Fiscal De bt Manag emen t Year Operatino Operating Serv i ce Operating Olstrict Total 1978 3.500 8.000 0.750 5.500 0.050 17.780 1979 3.500 8.000 0.720 5.640 0.050 17.910 1980 3.500 6.750 0.634 3.640 0.050 14.574 1981 2.796 6.159 0.551 4.846 0.050 14.402 1982 2.614 8.112 0.386 5.359 0.050 16.521 1983 2.612 7.473 0.393 5.167 0.050 15.695 1984 2.528 7.303 0.370 5.167 0.0 50 15.418 1985 2.488 7.134 0.249 5.167 0.050 15.088 1986 2.488 7.107 0.214 5.450 0.050 15.309 1987 2.488 7.558 0.203 5.800 0.050 16.099 Source: Leon County Tax Collector SPECIAL ASSESSMENT COLLECTIONS Last Ten Fiscal Years AS5essmentS As ses sme nts FI5 cal Ove ASleS5ments ASlessments Du e Year October i Lev l ed Collected Seo t ern ber 30 1978 5 221,000 5
5 64,100 5 156,900 1979 156,900 31,600 125,500 1980 125,300 913,800 25,100 1,014,000 1931 1,014,000 160,700 117,000 1,057,700 1932 1,057,700 150,800 906,900 1993 906,900 143,000 763,900 t984 763,900 250,000 417,200 796,700 1995 796,700 68,500 236,600 629,600 1986 628,600 343,000 110,700 860,900 1987 860,900 308,600 240,600 928,900
)
1-6
CITY OF TALLAHASSEE, FLORIDA COMPtflATION OF DIRECT AND OVERLAPPING DEBT September 30, 1987 OIRECT DEST City Tax Supported Ad Valorem Debt 5
Non-Sel f-Supporting Revenue Debt :
Capital Ref unding Bonds, Series 1984 1 20,605,000 Less: Sin king and Reser ve Fund s.........
(6,825,600)
Total Direct Debt 5 13,779,400 OVERLAPPING DEBT Tax Supported Ad valorem Debt:
Speel=l School Bonds...............
9,220,000 Less: Sinki ng and Reserve Fund s.........
( f,930,400) 7,289,600 Pbn-Sel f-Support ing Revenue Debt Leon County Capital improvement Series 1976-77 Revenue Bonds Civic Center.
4,802,290 Less: S i n k i ng a n d Res er ve Fun d s.........
(848,531) 4,043,759 Leon County Capital improvement Series 1977...
Revenue Bonds Land Fill 1,152,702 Less: Sinking and Reserve Funds.
(195,557) 957,145 Total Overlapping Debt.
12,290,504 CI TY SHARE OF NET OYERLAPPING DEBT ( 1).
8,726,300 TOTAL CITY DIRECT AT OVERLAPPING DEBT.
5 22,505,700 SELF-SUPPORTING REVENUE DEBT:
E l ec t r i c Re v e nu e Eb nd s...............
1110,593,500 Less: S i n k i ng a n d Res er ve Fun d s..........
(14,804,500) 1 95,789,000 dater and Sewer Revenue Bonds...........
Gs s Re ve n u e Bon d s.................
Municipal Ut i l i t y Rev e nu e Eb nd s..........
23,445,000 Less: S i n k i ng a n d Res er ve Fun d s..........
(2,594,500) 20,850,500 TOTAL SELF-SUPPORTi % REVENUE DEBT 5116,639,500 (1) City's share calculated based on 1986 County Taxable value of $3,186,206,900 and City Taxable value of 12,278,953,600 percent overlapping 71 percent.
COMPtITATION OF LEGAL DEBT MARGIN September 30, 1987 TAXABLE ASSESSED VALUE 52,279,953,600 Deot Limit 20 Percent of Assessed Value.
5 455,790,700 The City of Tallahassee h-ss no general obligation debt outstanding; the amount of general ooligation debt the City can issue is limited by City Charter.
f-7
CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF GENDIAL REVENUE DOND COVERAGE Last Ten Fiscal Years Percent of Debt Service Fiscal (2)
( 1)
Coverage to General Year Rev e nu e Ex pend i t u r es Principal interest To ta l Ratio Ex pend i t ur es 1978 123.025,700 124,321,800 5
955,000
$ 910,000 1 1,865,000 12.3 7.7 1979 24,723,000 24,932,400 920,000 2,208,600 3,128,600 (3)
- 7. 9 12.5 (3) 1980 27,322,000 27,ti5,000 3,175,000 2,488,300
%,663,300 4.8 11.6 (3) 1981 34,904,400 35,126,200 3,260,000 3,325,400 6,585,400 (3)(4)
- 7. 3 8.5 (3)(4) 1982 36,588,200 36,452,200 814,800 4,195,600 5.010,400 (4) 7.3 6.7 (4) 1983 45,094,000 44,779,200 20,790,700 3,320,400 24,111,100 (4)(5) 13.9 (5) 7.2 (4)(5) 1934 49,452,500 48,383,600 5,801,100 5,801,100 (6) 8.5 12.0 1985 50,023,300 50,442,200 2,082,200 2,082,200 24.0 4.1 1986 59,213,800 57,663,600 2,082,200 2,082,200 29.4 3.6 1987 59,173,500 59,469,700 2,082,200 2,082,200
- 28. 4
- 3. 5 (1) Interest expenses reflect only that which was paid f rom current revenues and does not Includa any capitallzed Interest.
(2) The City advance ref unded al l of its outstanding General City Debt using the invested Sinking Fund technique. Some of the principal payments shoen actually reflect the purchase of direct U.S.
Government Obligat ions wh ich are irrevocably pledged and held by a trustee for the payment of principal.
( 3) in N rch, 1979 the City sold 12,500,000 of Capital Bonds, Series 1979, Anticipa t ion tbtes to mature April 1,
1980 at 61 On March 28, 1980 the City issued 52,500,000 of Capital Bonds, Series 1979, Renewal Anticipation fetos to mature Octobar I, 1981 at 95 The proceeds of the Rene.51 Petes were used to retire the 1979 tbtes at maturity. The Ci ty subsequent ly set aside f rom other available funds, monies sufficient to retire the Renewal Notes at maturity. The retirement of the 1979 tbtes and the Reneesi tbtes are not reflected in "Percentage of Debt Service to General E xp end i tur es."
(4) On N y 26, 1981, the Ci ty sold $20,000,000 of Capital Bonds, Series 1981, Anticipation tbtes to m ture April 1, 1983 at 8.75f.
$1muitaneous wi th the sale the City escrowed a sum suf ficient to pay alI principal and Interest due on the 1979 Renewal ttes due October 1, 1981 The debt service on the 1979 Renewsl tbtes and the 1981 Petes are not re f l ect ed in "Percentage of Debt 3ervice to General Expenditures."
( 5) On Msrch 15, 1993, the City sold 125,000,000 of Capital Bonds, Series 1981 Simu l t ana>us il th the sale, the City escrosed a sum sufficient to pay all princloal and interest due on the 1981 Anticipation retes due April 1,
1983 The debt service on the 1981 tbtes is not reflected in "Coverage Ratio" and "Percentage of Debt Service to General Expenditures."
(6) On June 14, 1984, the City advance ref unded the outstanding Capital Ebnds, Series 1978 and 1981 The proceeds usej to ref und t$ ls debt are not reflectej in "Coverage Ratlo" and "fercentage of Debt Service to General Expenditures."
18 L
CITY OF TALLAHASSEE, FLORIDA CONSTRUCT 10N, HANK DEPOSITS AND IHOPERTY VAtUES Last Ten FIscaI Years Commerclat Residentlol Construction (1)
Construction (I)
Bank Depo s i ts Property Value (4)
Fiscal Number Number Commercial Savings and Year of Units Va l ue of Units Va l ue Banks (2) toan Assn.(3)
Commercial Res iden t ial Agricultural ibn-t axable 1973 24 5 1,616.100 626 5 9,424,700 5433,272,000
$305,901,000 5 386,576,700 5 944,208,500 5329,331,100
$ 871,975,700 1979 31 4,738,400 689 12,194,200 429,417,000 353,142,000 414,833,300
? 121,914,500 301,032,200 896,368,4 N) 1980 25 6,929,100 7I9 18,228,600 469,830,000 354,648,000 358,926,400 1,520,887,700 269,333,700 1,013,938,700 1981 85 13,685,100 1,129 21,005,800 481,563,000 346,995,000 593,608,200 1,787,860,500 268,831,300 1,047,267,200 1932 45 12,120,500 1,168 23,874,900 531,371,000 362,353,000 606,596,200 1,914,485,700 280,142,500 1,101,656,700 1983 95 16,075,000 1,909 57,474,500 648,603,000 411,446,000 686,475,500 2,176,698,600 283,924,200 1,123,750,300 1984 135 44,388,000 I,603 51,962,100 720,I67,000 525,810,000 724,305,700 2,319,211,700 311,709,500 1,060,997,800 1985 124 35,821,000 958 35,480,300 863,354,000 509,709,000 782,546,600 2,493,994,900 317,633,400 1,066,997,600 1986 142 42,275,100 840 35,155,600 957,867,000 514,802,000 866,704,500 2,623,318,000 335,644,600 1,064,954,700 1937 I'?
39,044,281 1,203 46,671,409 975,909,000 496,238,000 I,500,818,200 2,731,296,700 344,888,500 2,396,377,400 (1) Source: Tallahassee-toon County Planning Department (2) Source: Florida Bankers Association; includes deposits for entire Leon County; amount for 1984 based upon June 30, all others at December 31
( 3) Source: Florida League of Financial Institutions; includes deposits for entire Leon County (4) Source: Leon County Property Appraiser for entire Leon County l
\\
l
-a l
CITY OF TALLAHASSEE, FLORIDA SlM4ARY OF DEBT SERVICE REQUIRENENTS CAPITAL REFutolNG 00605 - SERIES 1984 September 30, 1987 invested Invested Fiscal Si nk i ng Sinking Net Year fund Fund Payment End i ng Pr incloa l Interest Purchases
_ Earnings Due 1988 1
5 2,080,600
$ 1,247,000 283,100 5 3,044,500 1999 2,080,600 1,350,300 385,700 3,045,200 1990 2,080,600 1,458,700 496,500 3,042,800 1991 2,080,600 1,606,500 616,800 3,070,300 1992 2,080,600 1,725,100 748,100 3,057,600 1993 2,080,600 1,780,200 889,300 2,971,500 1994 540,000 2,080,600 M5,800 1, r> 2 4, 8 00 1995 590,000 2,029,300 995,800 1,623,500 1996 650,000 1,972,700 995,800 I,626,900 1997 710,000 1,909,300 995,800 1,623,500 1998 785,000 1,939,000 995,800 1,628,200 1999 860,000 1,760,500 995,800 1,624,700 2000 173,000 2,447,300 995,800 1,624,500 2001 156,100 2,465,600 995.800 1,625,900 2002 140,400 2,4io,900 995,800 1,624.400 2003 126,600 2,494,000 995,800 t,624,800 2004 113,900 2,505,600
?95,800 1,623,700 2005 945,000 1,674,500 995,800 1,623,700 2006 1,050,000 1,574,100 995,800 1,628,300 2007 13,765,000 1,462,500 995,800 14,231,700 To t al s
$20,605,000 14:,178,400 19,167,900
$t7,360,700 153,590,500 Ron d s Di t ed : Msy 1,
1984 Original issue Amount: 520,605,000 Principsi Due: Ntober 1 of each yesr, beginning October 1,
1994 Interest Due: April 1 and October 1 of asch year, beginning October 1, 1984 Psying Agent: Ch emi ca l Ba nk of New York Donds % staring Ca l l Pr eam l um Ntober 1,
1994 to September 30, 1995 Two Percent Oc tober 1, 1995 to September 30, 1996 me and One Hal t Percent October 1, 1996 +o Septeber 30, 1997 One Percent October 1, 1997 to September 30, 1998 One Halt Percent October 1,
1998 and therea f ter Par Security: The Bonds are payable solely from and secured by a first lien and pledge of the Public Ser v i c e Ta w, local G3veengnt Hs i t -cent S.s les Tat and Guarantee 1 Ent i tl ement rievonues, Bond Ratings: t ody's Al, Stand srd and Poor's A+
l-10
CITY OF TALLAHASSEE, FLORIDA StM4ARY OF DEBT SERVICE REQUIRD4ENTS SENIOR LIDI ELECTRIC REVENUE BONDS FERIES 1985-A September 30, 1987 Fiscal Year Ending Principal Interest Total 1988 1 5,745,000
$1,020,600 1 6,765,600 1989 6,115,000 647,200 6,762,200 1990 3,305,000 231,400 3,536,400 Totals
$15,165,000
$1,899,200
$17,064,200 (k
Bonds Dsted: Neember 1, 1985
(#
Original issue Amount: 119,640,000 Principsl Due: October 1, beginning 1987 Interest Due: Apr i l 1 and October 1 of each year, beginning April 1,
1986 Paying Agent: Flor ida 74stiona l Bank, Jacksonville, Florida Call Provision: ?bne Security: The bonds are secured and payable from a first lien upon and pledge of the net revenues of the Municipal Electric Syst e,
Bond Ra t i ng : tod y 's A4, Standard and Poor's AA l-11
CITY OF TALLAHASSEE, FLORIDA SUSWtY OF DEBT SERVICE REQUIREMENTS JUNIOR LIEN ELECTRIC REFUOING B0f05 SERIES 1985 September 30, 1987, Fiscal Year End i ng Princloal Inter Total 7,266, 3
5 7,266,700 1988 5
1989 7,266,700 7,266,700 e
1990 7,266,700 7,266,700 1991 4,590,000 7,266,700 11,856,700 1992 4,935,000 6,922,400 lI,857,400 1993 5,315,000 6,542,400 11,857,400 i
1994 5,735,000 6,122,500 11,857,500 1995 6,200,000 5,658,000 11,858,000 1996 6,715,000 5,143,400 11,858,400 g
1997 5,795,000 6,056,800 1I,853,800 1998 4,815,000 7,040,900 11.855,900 1999 5,245,000 6,612,400 11,857,400 2000 5,715,000 6,140,300 11,855,300 2001 6.235,000 5,620,200 11,855,200 2002 6,815,000 5,043,500 11,858,500 2003 7,445,000 4,413,100 11,858,100 2004 0,130,000 3,724,500 11,854,500 2005 3,545,400 8,312,000 11,857,400 2006 3,902,500 7,952,500 11,855,000 2007 4,295,600 7,556,700 11,852,500 Totals 195,428,500
$127,950,400 1223,358,900 Bonds Dates: 0:tober 15, 19D
&lginal Issue Amount: 193,290,l00 Pelocipal Due: Octooer 1, beginning 1991 Interest Due: April 1 and October 1 et weh year, beginning Apell 1,
1986 Paying Agent: Florloa Mstional Bank, Jacksonville, Florida Security: The bonds are subordinate as to tien on and security for payment to the Senior Lien Electric Revenue bonds f rom the not revenues of the Municipal Electric Systern.
Bor.d Ra t i ng s : tody's Al, Standard and Poor's AA.
Mandatory Redemotion Terms Bonds %turing October 1, 2004 subject to following redemption schedul s by lot d 100% of principal 2001 16,235,000 2003 17,445,000 2002 56,815,000 2004 18,130,000 Ootionat Redmotion Serial Bonds %turing:
October 1, 1993 to September 30, 1994 Three Percent October 1, 1994 to September 30, 1995 Two Percent October 1, 1995 to Septersber 30, 1996 One Percent 0:tober 1, 1996 and ther9af ter Par Gsins RedemDtions April 1, 2000 to Wrch 31, 2001 Three Percent April 1, 2001 to Wrch 31, 2002 Two Percent April 1, 2002 to %cch 31, 2003 One Percent April 1, 2003 and thereaf ter Per l-12 i
CITY OF TALLAHASSEE, FLORIDA StM4ARY OF DEBT SERVICE REQUIREMENTS MUNIC WAL UTILITY REVENUE BONDS SERIES 1970 September-30, 1987 Fiscal Year Cou pon Ending Principal Interest Total Rate (f) 1988 5 450,000 5 302,875
$ 752,875 6.10 1989 475,000 275,425 750,425 6.00 1990 500,000 246,925 746,925 5.90 1991 550,000 217,425 767,425 5.95 t992 600,000 184,700 784,700 6.00 1993 650,000 14o,700 793,700 6.00 1994 650,000 109,700 759,700 6.00 1995 700,000 70,700 770,700 6.00 1996 700,000 28,700 728,700 4.10 Totals 15,275,000 11,585,150 16,860,150 Bond Dated: October 1, 1970 0-iginal Issue Amount: 5 7,30C,000 Princlrs! le: October 1, beg i nn i ng 19 72 Interest D;e: April 1 and October 1 of each year, beginning 0:tober 1, 1972 Psying Agent: D omical Bank of New York a
Bonds Maturin9 Ca l l Premi um October I, 1986 to Septeber 30, 1999 Three Percent
'k:to ber 1, 1999 to September 30, 1992 Two Percent October 1, 1992 and thereaf ter prior to returity One Percent Security: The Ebnds are secured and payable, on a parity with the outstanding Municiosi utility Revenue Bonds, Series 1970-A, 1977 aad !982, and subordinate as to lien on and security for payment to the outstanding Nunicipal Gas ne vanue Bonds and outstanding Municipal dater and Se.erage Revenue Bonds, f rom the not revent is of the Municipal Gss, Water, and Severage Systems.
Bond Ratings: tod y 's A l, Standard and Poor's A+
l-13 l
CITY OF TALLAHASSEE, FLORIDA StM4ARY OF DEBT SERVICE REQUIRD4ENTS MUNICIPAL UTILITY REVENUE 80f0S SERIES 1970-A September 30, 1987 Fiscal Year Ocupon Endina Pr i ne : pa l Interest Tota l Ra t e( f )
1988 5 175,000 5110,375 5 285,375
- 5. 2 1999 200,000 101,275 301,275 5.3 1990 200,000 90,675 290,675 5.4 1991 200,000 79,875 279,875 5.5 1992 200,000 68,875 268,875
- 5. 6 1993 200,000 57,675 257,675
- 5. 7 Q
1994 250,000 46,275 296,275 5.75 h
1995 250,000 31,900 281,900 5.8 I996 300,000 17,400 317,400 5.8 Totals 11,975,000 1604,325 12,579,325 Bond Coted: 0:tober 1, 1970 Original issue Mount: 53,150,000 Principal Due: October I, beginning 1977 Interest Due: April I and October I of each year, beginning April 1,
1977 Paying Agent : D emical Bank of New York Bonds %tur ing Cal 1 Pr ern i um October 1,
1986 to Apr i I I,
1989 These Percent October 1, 1989 to April 1,
1992 Teo Percent 0:tober 1,
1992 and thereafter pelor to mturity One Percent Security: The Bonds are secured and payable, on a parity with the outs tandi ng Municipal Ut i l i ty Revenue Bonds, Series 1970, 1979 and 1982, and subordinate as to t ien on and security for payment to the outstanding Municipal Gas Revenue Bonds and outstanding Municipal Water and Sewerage Revenue Bonds, from the net revenues of the Municipal Gss, water and Severage Systems.
Rond Ratings: Sbo1y 's Al a nd St a nd ard and Poor t s A +
4
-(
t u
.s agA(iv3
1 CITY OF TALLAHASSEE, FLORIDA StMMRY OF DEBT SERVICE REQUIREMENTS MUNICIPAL UTILITY REVENUE DOtos SERIES 1979 September 30, 1987 Fiscal 4
Year Ccupon Ending Prin.3al Interest Total Pa t e ( 5 )
1988 5
23 M 00 5 626,727 5
861,727 6.25
\\
1989 250,000 612,040 862,040 5.50 1990 265,000 598,290 863,290 5.50 f
1991 280,000 533,715 863,715 5.50 1992 295,000 568,315 863,315 5.60 1993 315,000 551,795 866,795 5.60 1994 335,000 534,155 869,155 6.20 1995 355,000 513,385 868,385 5.75 1996 375,000 492,972 867,972 5.80 1997 1,405,000 471,223 1,876,223 5.85 199e 1,490,000 389,030 1,379,030 5.90 1999 1,580,000 301,120 1,881,120 5.90 2000 1,680,000 207,900 1,887,900 6.00 2001 1,785,000 107,100 1,89_2, LOG 6.00 Totals
$10,645,000 16,557,767 517,202,t67 Bond Dated: April 1,
1979 Original Issue Aeount: 512,000,000 Principal Die: October 1, beginning 193:
Interest Due: Apr i l I anc October 1 of each year, beginning April 1,
1980 Paying Agent: Chemical Bank of New York Bonds %turIng Cal 1 Premium Octot;er 1, 1989 to September 30, 1991 Three Perewit October 1, 1991 to September 30, 1994 T o Percent October 1, 1994 to Septemoer 30, 1998 One Percent October 1, 1998 and thereaf ter Par J
Security: The Bonds are secured and payable, on a parity eith the outstanding Municipal Ut il i ty Revenue Bonds, Series 1910, 1970-A and 1982, ant subordinate as to ll en on and security for payment tc the outstanding Noicipal Gss Revenue Bonds and outstanding Municipal water and Se=Srage flavenue Bonds, f rom the net revenues of the Municipat 3a s,
Wster, and Severage Systems.
Bond Ratings:
tod y 's A1, Standard and Poor's A+
l-15
9 f
,f Cmf OF TALLAHASSEE, FLORIDA I'
i*'
SWe4ARY OF DEBT SERVICE REQUIREMENTS MUNICIPAL UTILITY REVENUE Boles SERIES 1982 j
September 30, 1967 7
Fiscal Year Coupon -
End i ng Principal Interest Total i- [ jRste(g
! j f -
1988 5 150,000
$ 460,132 610,I32
/. (7._250
> ;?
fib 9 ~
150,000 449,256 y
599,256
'7.500 1990 175,063 438,0 %
/
613,006 ',
/"
J. N0
).
1991 200,000 ',
428,532.?
624,5 9/
/
7.800
/
l608,932&
8.000
,/
r 1992 200,000 408,932
/
1993 250,0(y 392,932
'642,937 7
7 8.200
,j 4.
1994 250,000 372,432 /
i< ~e' A22,4 32 8.400
" kS1,t32 8.500 1995 300,000 351,432
,e j
I996 325,000 325,932 650,932 8.600
'997 350,000
'297,982 647,982 8.700 l ', -
1998
,F'400,000 267,532' 667,332 8.800 1%9
/450,000 232,332 6814332 8.800 2d00
' 500,000 192,732 692',732 8.900 2001 550,000 148,232 698,2.52 8.900 2002 625,000 99,282 (N
7M,282 9.000 2003 675,000 43,032 718._032 6.375 t
j > $10,4 54,710 s
Totals
$5,550,000 ly44,710 Bond Dated: October 1, 1982 Orlainel issue % unt 16,000,000 Principal Oue: October I, beginning 1984 interest Duc -l April 1 and October 1 of each year, oeginning April 1,
1983 Paying Agents' Chemicel Bank of New Yorn
<al g
Bonds $4aturing Call Premlem October I. 1992 to September 30, 1993 Three Percent October 1, 1993 te September 30, 1994 Two arid One Hal f Percent 0:tober 1, 1994 to September 30, '995 Two Perce N G,; tot er 1,1995 to Septemaer 30, 1996 One and On, Hal f Percent Octeor 1, IN6 to Septembei ", 1997 One Percent
' October 1,1997 to September 30, 1998 One Half of C$e Percent October 1, 1998 and ' th erea f ter Par
<J>
Security The donds are secured and payabli, on a parity with the outstanding Municipal utility Revenue Bonds, Series 1970, 1970-A and 1979, and subordinate as to llen on and security for payment to the outstanding M7lcipal Gas Revenue Bondr. and outstanding edun i ci pa l Water an d Sewgrage Revenue %nns,,f rem the not revenues of the Municipal A,
Water, and Severage Sys'tems.
Bond Ratings: Moody's $1, Standard and Poor's A+
4 l-16 s
1y / -
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CITY OF TALLAHASSEE, FLORIDA I
PRilCIPAL TAMPAYERS September 30, 1967 l
l i
Assessed Valuation Percentage Tangible of Total Real Personal Assessed Taxpayer Property
'Procorty Total Valuat ion Central Telephone............
1 6,770,000
$81,147,200
$ 87,917,200 2.7 Tallahassee f4all.
14,732,200 8,000 14,740,200 4
Governor 's Square Ma i l..........
12,748,500 88,700 12,837,200 4
Publix Supermarkets...........
8.550,000 785,700 9,335,700
.3 3
Lew i s Stat e Ba nk Rea l ty.........
9,486,500 9,486,500
.3 Pratt Hotel Corp. (Hilton).
6,920,400 409,300 7,329,700 2
i 1.B.M..
6,941,400 6,941,400
.2 Taltrusco (Barnett Bank).
7,130,500 7,130,500
.2 Sears..................
5,942,500 397,300 6,339,800
.2 l
Woodc r es t Ap a r tme n t s...........
5,415,500 37,700 5,453,200 J
177,696,100 589,815,300 1167,511,400 h_1_
Source: Leon County Property Appraiser 1-17
c I
4 7
5 CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF liestmAssCF IM F0HCE September 30, 1967 t
Estimated iblicy Annual Type of Coverage and insurance Ccympar.y Fbl!cy Neber Enpiration Details of Coverage Limits Premium LIABILITY:
Self-Insured N/A 9-30-88 Encess Auto / General Liability IVA ~
t4/A Southern Aviation and 84srIne......... P 52193 & 58062 9-30-88 Airport Liability Sto,000,000/40M 5109,264 Self-insured.
N/A 9-30-88 Primary Auto / General Liability
$100,000/200,000 Fund
{
. Reserves 1
imperial Casualty.............. 833t E005575 9 'A)-88 Police Professional 1500,000
$98,128
?
FIRE AND EXTENDED COVERAGE:
Industrial Risk Insurers........... 33331088 9-30-83 Eblier and Machis*ery All Risk Comprehensive 1517,703 Fireman s Fund...............
24 8-iWP-4 81 99 FY 87 Vstuable Papers (Firel
$100.000 1500 a
Hartford.
21 1CRM 7621 8-3-37 Ares Remote Control Robot Si4,700 1847 ACCIDENTAL DEATH:
1 Commercial Insurance............. GTA-4617 9-30-89 A::cidental Death (Firemen & Policemen) ~
Statutory Accidental Death
$20,000 17,900-Hartford....
............... ETB-17781 9-30-89 Statutory Death (Fire / Police 550,000 56,804 CORKE N' COMPENSATION:
National Union Fire lisurance Company.... 9003778 9-30-38 Encess nerkers' Compensation 55,000,000 565,484 Self Insure 1 N/A N//
Primary Workers' Compensation
'5100,C30 N/A t
PWLIC OFFICI ALS BOND-United States Fidelity & Guaranty Company.. 0177011067822 6-50-87
' Surety Bond 550,000 5450 fanguard.
............... UPF 1012 8-17-87 Extended Discovery
$100,000 516 979 PUBLIC 04PLOYEES 3LANKET HOND:
South Carolina insurance Company....... F S 901513 2-35-87 tbnesty Blanket Position Bond various 56,282
CITY OF TALLAHASSEE FLORIDA 0
MISCELLANEOUS STATISTICA1. DATA September 30, 1987 Nte of incorporation.
1825 Terms of Of fice:
Date First Charter Adopted.
1825 m yor - One Year (Elected by the Commission)
Date Present Charter Adopted.
1919 Comolssioners - Four Years Manager - Appointed by Commission Form of Government: Commission-Manager Average Annual Temperature.
67.2 Degrees Commission Composed of: Mayor and Four Commissioners Average Annual Rainfall............
- 64. 59 i nch es Area...................
59 Square Miles MUNICIPAL llTILITIES and SERVICES Electric System Water System:
Generatinq Plants......................
3 Miles of Water Mains................
650 Generating Capacity (KW)................
46),000 Dally Average Consumption.(MGO).
19.26 Nt System Energy Generated (KWH)
.. I,384,771,255 Plant Capacity (MGO) 52.2 Average Neber Resident ia l Customers........... 55,976 Number of Service Connections........... 45,157 Average Residential Monthly Bill.
..... 174.93 Deep Wells...................... 25 M i l es of Tra n sm i ss i on Li nes...............
17 2.1 Number of Fi re Hydran t s..............
2,100 Primary Olstribution Sub-System Capacity (KVA).....
645,000 Square Miles of Service Area...
185 Sewage System:
Number of Street Lights..................II,589 Miles of Sanitary Sewers..............
500 Number of Lift Stations................ 75 Gas Systen:
Daily Average Treatment (MCO).
18.19 Miles of Gas Lines....................
271
%ximum Capacity of Treatment Plants (MGO)
.. 22.058 l
Daily Average Consumption (MCF).
3,797 Number of Ol sposa l Plant s...............
3 Plant Capacity (MCF) 4,000 tomber of Service Connect ions........... 37,841 i
Number of Ser v ice Connect ions..............
7,809 l
Parks and Recreation:
l Police Protection:
Community Centers..................
8 Nmber of Employees....................
355 Summer Pl aygrounds and Camps............. 12 Nmber o f Veh i cu l a r Pa t ro l Un i t s.............. 67 Athletic Fields........'........... 84 j
Nmber of Law Violations:
Go l f Courses.....................
2
- Physical Arrests...........
5,978 Swimming Puois....................
5
- Tra f f ic V i ol a t ions.................. 24,5 76 Parkland Acreage.................
1,046
[
- Pa r k i ng V i o l a t i ons.................. 70,114 Parcours Tra l l s...................
3 i
1 Tennis /RacquetbaII Courts.............. 50 Gymnasiums...................... 33
. - - - _ - _ _ _ - _ - 1
7 E
CITY OF TALLAHASSEE, FLORIDA -
MISCELLA81E00S STATISTICAL DATA (Continued)
Cn=paanity facillttes Transportat ion:
Education:
Airline. Hus Line, and Railroad Freight Services Number of Public Schools.............
32 Humber of Public School Instructors....... 1,500 Communications:
fasmber of Public School Students.......
25,000 Newspapers, Radio Stations, Television Stations; tomber of vocational-Technical Schools........I Cable Television and Telephone Service Number of Community Colleges............ 1 Number of Universities............... 2 Culture, Recreation, and Health:
Number of College-level Instructors.......
1,850 Conference Center, Civic Center, and Theaters tbmber of College-level Students.......
34,020 Seat i ng Capac i ty................ 2 5,14 2 Museums.........................
3 Major Annual Events:
%J or Li brar i es.....................
8 Springtime Tallahassee Festival Skating Rinks......................
3 Tallahassee Open Golf Tournament Gott Courses.......................
5 North Florida Fair tuspi ta' Beds..........
9 51 Junior Museum Market Days Fourth of July "Celebrate America"
]
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_m.
-,,-q CITY OF TALLAHASSEE, FLORIDA DU40GIAPHIC STATISTICS for the Years Indicated Water (2)(3)
(1)
Electric Consumod Gas used
( 2)
Leon County
.'% tall Estimated Airline tovH Used (Gals)
(Cu. Ft.)
6 busing School Sales Year Population Passen gers (00s's)
(Millions)
(Millions)
Units Enrollment (000's) 1978 79,300 300,06 1,304,360 5,195.5 1,409,957 31,928 21,378 474,180 1979 80,257 322,992 1,553.792 5,152.2 1,459,978 35,147 21,349 408,942 1980 81,548 306,443 1,499,908 5,390.1 1,366,515 33,677 21,197 721,527 1981 92,328 288,681 1,169,832 5,484.2 I,279,483 38,088 21,646 822,175 1982 95,498 266,583 1,339,339 5,830.7 1.251,515 40,261 21,650 847,505 1983 105,577 284,052 1,295,058 5,846.7 1,151,650 45,097 22,433 927,413 1984 113,564 311,739 1,296,268 6,209.9 1,330,499 48,699 22,279 I,012,443 1985 116,239 284,899 1,336,212 6,124.9 1,293,902 50,715 22,823 1,084,427 1986 120,023 354,098 I,419,245 7,983.5 1,285,008-52,015-23,911 1,132,152 1987 125,060 413,242 1.556,543 7,031.3 1,385,865 52,231 24,508 N/A S>urce: Clty Records (1)
U. S. Census Bureau and Tallahassee-Leon County Planning Department
( 2) Tallahassee-Leon County Planning Department (3) Leon County Statistics N/A - Not Available Year Weber of Latne Force Weber of Employed Nmber of unemployed themployment Rate a
1993 45,561 42,702 2,859 6.3 percent 1984 46,361 43,924 2,437 5.3 percent 1985 47,404 45,068 2,416 5.1 percent 1986 53,856 51,442 2,414 4.5 percent 1937 56,938 54,524 2,414 4.2 percent i
S>urce2 Florida Department of Labor and Employment Security 7
2 4
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