ML20245F649
| ML20245F649 | |
| Person / Time | |
|---|---|
| Site: | Crystal River  |
| Issue date: | 09/30/1988 |
| From: | TALLAHASSEE, FL |
| To: | |
| Shared Package | |
| ML20245F390 | List: |
| References | |
| NUDOCS 8905020450 | |
| Download: ML20245F649 (193) | |
Text
{{#Wiki_filter:. _ . . _ . . , City of Tallahassee, Florida l COMPREHENSIVE >NNUAL FINANCIAL REPORT [ d'L lh
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b lI d % C Oc ~~A_ -ASSEE r The Fiscal Year Enced September 30,1988
' Florida 's Capital City -Sen'ing all Florida $* $0NO !N j@2
COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE i l CITY OF TALLAHASSEE, FLORIDA l FOR THE Fiscal Year Ended September 30,1988 s [' ,j ! f , f;[Q CITY OF TALLAHASSEE 1 l PREPARED BY THE Department of Finance
CITY OF TALLAHASSEE, FLORIDA COMMISSION-MANAGER FORM OF GOVERNMENT CITY COMMISSION 1 FRANK VISCONTI, Mayor DOROTHY INMAN, Mayor Pro Tem BETTY G. HARLEY, Commissioner 4 JACK L. McLEAN, JR., Commissioner STEVE MEISBURG, Commissioner i CITY MANAGER CITY ATTORNEY Daniel A. Kleman James R. English CITY TREASURER-CLERK CITY AUDITOR Robert B. Inzer Ricardo vsnandez, CPA DIRECTOR OF FINANCE CONTROLLER Philip F. Inglese, CPA Johnny F. Session, CPA
1 l l l i l l 1 1 1 I INTRODUCTORY SECTION l l l i i l
CITY OF TALLAHASSEE, FLORIDA COWHDIENSlVE ANNUAL FlNANC1AL REPORT FISCAL YEAR Ef0ED SEPTDOER 30, 1988 TABLE OF CONT j Paqe
- 1. INITt0DUCTORY SECTION A-1 Table of Contents A-5 Letter of Transmittal A-20 Cbvernment Finance Officers Assoc!ation Certificate of Excellence A-21 City of Tallahassee Organization Chart A-22 Listing of City of Tallahassee Of f!clals
- 11. FINANCIAL SECTION B-1 Independent Auditors' Report - Opinion of Independent Certlfled Public Accountants GENERAL PURPOSE FINANCI AL STATEMENTS (COMBINED STATEMENTS - OVERVIEW):
B-4 Combined Balance Sheet - All Fund Types and Account Groups B-8 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - All Governmental Fund Types and Expendable Trust Funds D-10 Combined Statement of Revenues and Expenditures - Budget and Actual - General Fund Type B-11 Combined Statement of Revenues, Expenses and Changes In Retained Earnings / Fund Balances - All Proprietary Fund Types and Similar Trust Funds B-12 Combined Statement of Changes In Financial Position - All Propr! story Fund Types and Similar Trust Funds 6-13 tbtes to Financial Statements COMBINf NG Ato INDIVIDUAL FUto AND ACCOUNT GROUP - STATEMENTS AND SCHEDULES: GOVERNTNTAL FUNDS GENERAL FUND: C-1 Balance Sheet C-2 Schedule of Revenue - Budget and Actual C-5 Schedule of Expenditures - Budget and Actual C-12 Schedule of Operating Transfers - Budget and Actual SPEClAL REVENUE FUNDS: C-13 Cbmbining Balance Sheet C-14 Combining Statement of Revenues, Expenditures and Changes In Fund Balances l DEBT SERVICE FUND: C-15 Balar.ce Sheet C-15 Statement of Revenues, Expenditures and Changes In Fund Balance A-1
CITY OF TALLAHASSEE, FLORIDA 3 TABLE OF CONTENTS (Continued) Pa ya CAPITAL PROJECTS FUNDS: 0-17 Combining Balance Sheet C-19 Combining Statanent of Revenues, bpenditurers and Changes in Fund Balances ENTERRilSE FUNDS D-2 Combining Salance Sheet D-6 Combining Statenent of Revenues, Expenses and Changes in Retained Earnings D-10 Combining Statement of Changes in Financial Position ELECTRIC FUND: 0-14 Balance Sheet D-16 Statenent of Revenues, Expenses and Changes in Retained Earnings D-17 Statement of Changes in Financial Position D-18 Schedule of Operating Expense D-19 Regulatory Schedule of Operating Expense GAS FUND: D-20 Balance Sheet D-21 Statenent of Revenues, Expenses, and Changes in Retained Earnings D-22 Statement of Changes in Financial Position 0-23 Schedule of Operating Expense D-23 Regulatory Schedule of Operating Expense SEWER FUND: D-24 Balance Sheet ! D-26 Statenent of Revenues, Expenses and Changes in Retained Earnings D-27 Statement of Changes In Financial Position D-28 Schedule of Operating Expense D-29 Regulatory Schedule of Operating Expense WATER FUND: I D-30 Balance Sheet 0-32 Statenent of Revenues, Expenses and Changes in Retained Earnings D-33 Statement of Changes in Financlal Position D-34 Schedule of Operating Exper.se D-34 Regulatory Schedule of Operating Expense AIRPORT FUND: I D-35 Balance Sheet ] D-37 Statenent of Revenues, Expenses and Changes in Retained Earnings l D-38 Statement of Changes in Financial Position ) D-39 Schedule of Operating Expense I i TALLAHASSEE TRANSIT FUND: D-4D Balance Sheet j D-41 etatanent af Revenues, Expenses and Changes in Retained Earnings j l A2 i - _ - - - - - - - - - - i
1 CITY OF TALLAHASSEE, FLORIDA TABli 0F CONTENTS (ContIneed)
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r Page D-42 Statement of Changes in Financial Position D-43 Schedule of Operating Expense SOLID WASTE FUND' D-44 Balance Sheet l D-45 Statement of Revenues, Expenses, and Changes in Retained Earnings I D-46 Statement of Wanges In Financial Position ) 0-47 Schedule of Operating Expense j j ODLF COURSE FUND: 0-48 Balance Sheet- , D-49 Statement of Revenues, Expenses, and Changes in Retained Earnings ; D-50 Statement of Changes in i ancial. Position ] D-51 Schedule of Operating Expense i INTERNAL SERVICE FUNDS E-2 Combining Balance Sheet E-4 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings E-6 Combining Statement of Changes in Financial Position TRUST AND AGENCY FUNDS l TRUST FUNDS: F-2 Combining Balance Sheet PENSION TRUST AND NONEXPENDABLE TRUST FUNDS: F-3 Combining Statement of Revenues, Expenses and Changes in Fund Balance l F-4 Combining Statement of Changes In Financial Position EXPENDABLE TRUST FUNDS: F-5 Combining Statement of Revenues, Expenditures and Changes in Fund Balance l AGENCY FUND: F-6 Deferred Compensation Fund - Statement of Changes in Assets and Liabilltles GENERAL FIXED ASSETS ACCOUNT GROUP G-1 Schedule of General Flxed Assets-By Sources G-2 Schedule of General Fixed Assets-By Function and Ac+1vity . G-3 Schedule of Changes in General Fixed Assets by Function and Activity GENERAL LONG TERM DEBT ACCOUNT @OUP
.H-1 Statement of General Long Term Debt A-3
CITY OF TALLAHASSEE, FLORIDA TABLE OF CONTENTS (Ccntinued) Paqe Ill. STATISTICAL !ICTION (Not Covered By Auditors' Heport) 1-1 Comments on Statistical Section 1-2 General Government Expenditures by Function - Last Ten Fiscal Years 1-2 General Revenues by Source - Last Ten Fiscal Years 1-3 R operty Tax Levies and Collections - Last Ten Fiscal Years 1-4 Assessed and Estimated Actuel' Value of Taxable Property 1-5 Assessed Valuations, Millage and Taxes Levled and Collected - Last Ten Fiscal Years. 1-6 Property Tax Rates - All Overlapping Governments - Last Ten Fiscal Years 1-6 Special Assessment Collections - Last Ten Fiscal Years I-7 Computation of Of rect and Overlapping Debt l-8 Computation of Legal Debt Margin I-9 Construction, Bank Deposits and Property Values - Last Ten F! scal Years 1-10 Summary of Debt Service Requirements - Capital Ref unding Bonds, Series 1984 l-11 Summary of Debt Service Requirements - Senior Lien Electric Revenue Bonds - Series 1985-A l-12 Summary of Debt Service Requirements - Junior Lien Electric Ref unding Bonds - Series 1985 l-13 Summary of Debt Service Requirements - Municipal Utility Revenue Bonds, Series 1970 1-14 Summary of Debt Service Requirements - Municipal lit t llty Revenue Bonds, Series 1970-A l-15 Summary of Debt Service Requirements - Municipal Utllity Revenue Bonds, Series 1979 l-16 Summary of Debt Service Requirements - Municipal Utility Revenue Bonds,' Series 1982' l-17 Summary of Debt Service Requirements - Airport Revenue Bonds, Serles 1988A l-10 Principal Taxpayers 1-19 Schedule of insurance in Force 1-20 Miscellaneous Statistical Data 1-22 Demographic Statistics for the Years Indicated l A-4
CITY hat.L GOSN 8 INZE3 FRANor VdCONfl BETTY G HARLEY STEVE METS 8UDG TALLAHASSEE. FL M*/ Commmooner Commas.one< comm ssioner cay Treasse<cem
*- 3230M731 conoTwyINMAN ;ACK L McLEA CANIEL A ELEMAN JAMES D ENGuSN o Man pro Tem. commioone, N JR cm Manager ca vAno<nev
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Cfly OF TALLAHASSEE October 31, 1988 The Honorable Mayor and Members of the City Commission City of Tallahassee, Florldo Ladles and Gentlemen: The Comprehens!ve Annual Flnancial Report of the City of Tallahassee, Florida, for the fiscal year ended September 30, 1988, 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. The Comprehensive Annual Financlel Report was compiled 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 Commission, management personnel of the City, rating agencies, and other Interested persons. Responsibility for both the accuracy of the presented data, and the completeness and 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 !s presented in a manner designed to fairly set forth the financial posit!on and results of operations of the City as measured by the financial act!vity of its verlous funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the City's financial affairs have been included. The Reportino 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 authorizing our present Commission-Manager form of government. The City provides the f ull range of municipal services. This includes public safety (police and fire), streets and sidewelks, garbage col'ection, recreation, public Improvements, planning and zoning, general administrative services, four utilities fulectric, gas, water, and sewer), a mass transit bus system, and a municipal airport. The funds and entitles r-jated to the City of Tallahassee included In our Comprehensive Annual Financial 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, entitled " Defining the Governmental Reporting Entity." The criterla deal with comparability, comprehensiveness, responsibility, and ontrol. Based on these criterla, the verlous funds and account groups (being all the funds and account groups of the Clty shown in the Table of Contents) are included in this report. A-5
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l 1 i Organtz stion and Contents 1 The financial statements of the City have beea prepared in accordance with generally accepted accounting principles (GAAP) as applied to governmental units. The Governmental Accounting ] Standards Board (GASB) is the standard-setting body for governinental accounting and financial reporting. On June 15, 1987, the GASB Issued a codi fication of the then existing Governmental Accounting and Financial Reporting Standards which, along with subsequent GASB pronouncements (standards and Interpretations), constitutes GAAP for governmental units. I
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Designed to meet the needs of a broad spectrum of financial statement readers, this Comprehensive Annual Financial Report is divided into three major sections:
- 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 Certl ficate of Achievement for Excellence in Financial Reporting awarded to the City by the GFOA, and !
I the City organization chart. l
- 2. Financial Section - Five combined financial statements, together with the notes to the . l 1
financial statements, compose the General Purpose Financial Statements (GPFS). The GPFS are the City's baalc financial statements and provide an overview for users who require less detalled Information about the City's flnances than It contained in the balance of this report. The remainder of the Financial Section presents combining statements, Individual fund statements, and schedules focusing on lndtvidual funds rather than fund types.
- 3. Statistical Section - Although this section contains substantial financ!al Information, these tables dif fer from financial statements in that they present some non-accounting data, cover nore than two fiscal years, and are designed to reflect social and economic data, financial trends, and the fiscal capacity of the City.
The various fund types of the City have been classlfled into fund categorles as follows: Fund Category Fund Type Governmental General Special Revenue Capital Projec+s Debt Service Proprietary Enterpelse Internal Serv!ce FIductary r-esIon Trust Nonexpendable Trust Expendable Trust Agency The measurement focus for each of the above f und categorles is explatned below. A-6
l l I l l Governmental Funds: These funds are used to account for the City's expendable financial resources and
- elated curre,t liabilities, except those accounted for in proprietary funds. 1 I
Governmental funds ars essentially accounting segregation for financial resources, and measurement focus is upon determination of financial position (sources, uses and balances of resaurces) ratner than upon net income determination. Basic financial statements necessary to felrly present financial position and operating results f or these f unds are the Balance Sheet, and +ne Statement of Revenues, Expenditures and Changes in Fund Balance. { I J Propeletary Funds: These f unds are used to account for the City's ongoing activltle*, which are s lmf lar to those found in the pelvate sector, and financial activlty is reported In udsentfally +he same manner as in commercial account!ng where net income and capital maintenance are measured. Wasurement focus is upon determination of net income, financlal position, and changes in financial position. The basic financial statements regulred for these funds are the Balance q Sheet; the Statement of Revenues, Expenses, and Changes in Retained Earnings; and the Statement of Changes in Financial Position. , Fiduc',ry Funds: These f unds are used to account for assets held by the City In a trustee or I agent capacity, Each trust fund ts classifled for Sccounting measurement purposes as either a governmental fund or a proprietary f und. Expendable trust funds are accounted for in essentially ' the same manner as governmental funds; pension trust funds and nonexpendable trust f unds are accounted for in essentially the same manner as proprietary funds. Agency funds are custodlel in na+ure (assets equal liabilltles) and do not involve measurement of results of operations. 1 in addition to the various fund ty 's, a fourth category of accounting entitles, account groups, is used to establish accounting control and accountability for the City's general f lxed assets ] and general long-term llab!Iltle . The Clty's general fixed assets (all fixed assets excep+ I those accou. .ed for in proprietary or trust funds) are not financial resources available for expenditure. The unmaturd ,e;ncipal of the City's general long-term debt (long-term IIabilltles not accounted for in propetetary funds) and the non-current portion of accrutd vacatlon and sick leave for governmental fund employees do not require the use of financial resources during +he current accounting parlod. Accordingly, these are not accounted for in the governmental f unds, but in seif-balancing account groups. Accountina System and Budgetary Control I The C!ty's accounting records for general governmental operations are maintelned on a modi fied accrual bests, alth the revenues being recorded when available and measurable, and expenditures being recorded when the services or goods are received and the liabilities are Incurred. Accounting records for the City's utilities and other enterprises are maintained on the accrual l basis. Budgetary control !$ ma i ntai ned at the d6partmeni level. Purchase r Jers which would l result in an overrun of balaves are not released until addltional appropriations are made available. Open encumbrances are reported as reservations of fund balance at September 30, 1998. In developf ng and altering the City's accounting system, consideration is given to the adequacy of Internat accounting controls. Internal accounting controls are designed to provide reasonaule, but not absolute, assurance regarding the safeguarding of assets against loss for unauthorized use or dlsposltlon; and the reliablilty of financlel records for preparing financial statements and maintaining accountab i l ity for assets. The concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be der!vod; and A-7
1 i the evaluation of costs and benefits requires estimates and judgements by management. All Internal control evaluations occur within the above framework. We believe the City's I nter r,a l accounting controls adequately safeguard assets and provide reasonable assurance of '] proper recording of financial transactions. j I The City's Auditing Department reviews and appraises the soundness, adequacy, and application of accounting, financial, and administrative controls In the City's accounting system. Financial transactions and related data are examined for accuracy, completeness, and authorization. Osta f processing applications and systems are addressed by the Internal auditors at appropelate times to assess the adequacy and accuracy of controls. Also, computerized applications are reviewed to Metermine that they have been developed according to the policles, procedures, standards, and ! guidelines of the City. General Governmental Functions The General Fund encompasses the general governmental functions of the City not required to bo l accounted for in other funds. The following summary shows actual revenue to support these functions for the current fiscal year and the change from the pejor fiscal year: Increase Percent (Decrease) Finanelnq Sources Amount Of Total From 1987 l Taxes $17,877,000 30.0 $3,496,900 Licenses & Permits 1,367,400 23 370,000 Intergovernmental Revenues 8,810,500 14 8 1,100,300 Charges for Services 3,186,100 5.3 (5,623,300) Fines & Forfelts 753,500 1.3 1,400 Misee1Ioneous 1,133,500 1.9 9,700 . SUB-TOTAL 33,127,800 55.6 (646,000) f Transfers in 26,455,200 _44.4 1,055,500 i TOTAL $59,583,000 100.0 $ 409,500 . d The City's principal sources of local tax revenues are property taxes, public service taxes, and the local option gas tax. In f! scal years 1988 and 1987, the City's property tax, all of which is for operating purposes, was 2.900 and 2 488 mills, respectively. The related property values j subject to taxes showed growth of 5 6 percent, representing $127.3 million in added taxable l property. This increase cont!nues the trend of growth as a result of increased property values -l In existing propertf es, and new construction. Taxable assessed values have Increased by $600 j million over the last f!ve years. Collectlon of property taxes increased by $1,244,400 over 1987 to $6,744,400. Public service taxes are levled at the rate of 10 percent on +elephone, electric, water, fuel j oil, and natural and bottled gas services within the City. In 1988, total revenue from this tax ) reflected an increase of $1,281,800, equivalent to 20.1 percent over 1987. This growth Is l attributed to increased utility sales and to an increase in the tax rate from 8.5 percent to 10 l percent. I A-B l
Th e local op t ion gas tax is the remaining major source of local tax revenues. Accordi ng to Florida Statutes, Chapter 336, a county may impose a one to six cents local ootton gas tax upon every gallon of motor fuel and special fuel sold within the county. In June, 1985, Leon County and the City entered into an Interlocal agreement whereby a levy of four cents was approved and is to be split on an equal 50-50 percentage basis. In June, 1987, the levy was increased by an I additional two cents. The tax !s due to expire September 30, 1996 unless the voters, by referendum, approve an extension. The tax can only be used for transportarlon purposes. Dur i ng 1988, the Olty collected $2,860,800, as compared to $1,801,600 from 1987. Revenues from licenses and permits increased 37.1 percent over 1987. This increase was due to an Increase in the number of bulld!ng perrlts issued related to commercial construction activity. Intergovernmental revenue consists primarily of shared revenue from other governmental agencies. City revenue generated from these sources Increased 14 3 percent due to an increase of $1 million in the City's share of the local government one-half cent sales tax. Charges for services showed an overall decrease of $5,623,300, or 63 87 percent. The decrease is due to revenues associated with Solid Weste Collection and Golf Course Operations being accounted for In separate f unds during 1988, as compared to 1987 when these revenues were includcd in the General Fund. The followlng summary shows the level of funds used in providing governmental services: increase Percent (Decrease) Finanelnq Use Amount Of Total From 1987 Expenditures: General Government $ 6,890,000 11 8 $ 229,1 W Public Safety 21,143,600 36 3 3,030,500 Transportatlen 6,978,700 12 0 (75,000) Human Services 1,007,000 17 17,900 Economic Environment 273,500 .5 9,800 Physical Environment 955,800 1.6 (6,560,900' Culture & Recreation ___4,404,000 7.6 _ (315,000) SUB-TOTAL 4Y,652,600 71 5 (3,665,500) Transfers Out 16,634,800 28. '; 2,483,200 TOTAL USES $58,287,400 100 0 $(1,182,300) The net decrease In expenditures for governmental services !s primarily attributable to cos ts associated with Solld Waste Collection and 00lf Course OperatlonT being accounted for In separate f unds during 1988. Although expenditures for governmental services showed a net decrease, public safety expenditures increased by $3,030,500, or 16.7 percent, due to personnel increases in the Pollce Department. The preceding schedules of Financing Sources and Uses reflect significant Transfers in and Out. Transfers in primarily rep *esent excess enterprise f und revenues which may legally be used for general governmental purposo. Transfers Out are primarily used for debt service, underwriting the operations of certain funds, e..4 capital projects. The General Fund acts as a clearing f und and accordingly uf f ilzes these funds or transfers them to other funds for their respective A-9
l purposes. The City Commlssion adopted a financing policy that addressed the transfer of monles j from the enterprise f unds to the General Fund. The amount transferred is ilm!ted to the pollcy established for each enterprise fund. Included in the Transfers Out is $9,466,600 to Internally l j fund capital proj ects, whlch otherwlse would have to be bonded. This Internal funding Is In accordance with the Clty Commission approved Debt Management Policy. In 1988, General Fund sources were $2,039,400 over the General Fund uses. At September 30, 1988, the General Fund fund balance consists of $5,677,700, with $2,929,400 reserved and $2,748,300 uneckerved. j Certain revenues of the General Fund are pledged toward the repayment of the outstanding Capital Refunding Bonds. Coverage in formation is as foilows: 1988 1987 Pledged Revenues $13,240.600 $11,003,900 Sond Service Requirement 3,044,500 3,050,800 Debt Coverage 4 35 3 61 Required Coverage 1.25 1.25 Special Revenue Funds Special revenue funds account for revenue from special revenue sources wh ich are legally restricted for specific purposes. The combined fund balances of these funds unount to
$1,443,900, and the following represents an analysis of sources and uses in the special revenue j funds for 1988: l Sept. 30, I 1988 Change In Fund i Fund Sources Uses Fund Balances Balances f 1
1 Special Projects Fund $1,809,400 $1,946,500 $(137,100) $670,000 j Stormwater Management Fund 2,986,800 2,279,600 707,200 707,200 ! Law Enforcement Forfeitur.s Fund 49,200 30,600 18,600 66,700 I TOTAL $4,845,400 $4,256,700 $ 588,700 $1,44 3,900 l The Special Projeds Fund is used to account for Federal, State, local and other revenues that are to be used for specific general governmental purposes. The major revenue source in this f und was the Federally funded Community Development Block Grant program which provided $1,224,400 to the Clty during 1988 The Stormwater Management Fund was established to account for fees restricted for stormwater operating and capital costs. The ordinance establishing the fee became of fective October 1,1986 and the total revenues, includlng interest earnings, collected for fiscal year 1988 were.
$1,542,800; the balance of the uses was funded by a subs!dy from the General Fund.
The Law Enforcement Forfeiture Fund was established to account for forfeitures as prescribed by Chapter 932 of the Flortda Statutes. Appropetations from this f und can be made only for law enf orcement purposes. i A-10 1 1
l Debt Administration The City's outstanding debt is classi fied and reported accordi ng to the type of resource pledgad to satisfy the Individual debt series. General long-term debt consists of bonds supporTej ;eneral revenues ' hat are obilgations of the City as a whole and not of its individual funo3 Ine City has no general obligation debt 20 605 0 f Cap tal P f nding n s w th $8,119 000 ava able to debt service. l Enterpelse debt encompasses electric, gas, water, sewer, and airport long-term debt and is comprised of obilgations Incurred in the course of financing extensions and Improvements to these systems that are financed solely from their revenues. At SoptcMer 30, 1988, the City has ] outstanding $106,073,300 of Electric Revenue Bonds witn $14,804,500 available for debt service, $2' ' A,000 of bonds secured by gas, water, and sewer systems with $2,594,400 available for debt , = v!ce, and $12,350,000 Airport Revenue Bonds with $2,381,000 avalladio for derbt service. In February,1988, the City Issued $12,350,000 Airport System Revenue Bonds, Series 1988. The f bonds were issued to finance a portion of the cost of constructing a new terminal at the Airport. ] Ratings for the City's bonds are assigned by independent nationally recognized agencles. Th ese ) ratings have a significant influence in establishing the rate of Interest expense the City must l pay when bonds are sold. Such " credit" ratings for the City of Tallahassee's debt have been consistently judged to be of good Investment quellty. Current ratings by the two major ratings agencies are shown below for each serles of long-term bonded debt: l Standard ! Ronds Moody's & Poor's ! Capital Refunding Bonds A1 AAA Electric Junior Lien Refunding Revenue Bonds A1 AA-Electric Senior Lien Revenue Bonds Aa AA Municipal Utility Revenue Bonds Al A+ Airport System Revenue Bonds Aaa AAA Ali reserve and coverage requirements mandated by bond covenants have been met. It is anticipated that during fiscal year 1990 $30 million of Capital Revenue Bonds (to be used primarily for transportation projects), $34 milllon of Electric Revenue Bonds (to be used for electric system improvements, expansions, and upgrades), and $65 million of Municipal Utility Revenue Bonds (to be used for projects as ident! fled in the Sewer Master Plan) will be authorized to be issued. Capital Projects Funds Proceeds of general revenue bond Issues and Internal general government type fundings are primart ly accounted for in Cap!tal Projects Funds until the Improvement projects are completed. A-11
f l At +he end of the fiscal fear, completed projects are capitalized in the Oeneral Flxed Assets Account Group. During 1988, a net amount of $2,427,100 of suc5 assets was added to General Flxed Assets. As of September 30, 1988, there were projects with an authorized snount of $22,616,800, 1 with $11,926,800 expended, in progress. f Enterpeise Funds I I Enterprise funds are + hose that are financed and operated in a manner similar to-a private l I business enterpelse where the Intent of the governing body is that the cost of providing goods and services on a continuing basis be financed through user charges or where the governmental body has decided that periodic determination of revenues earned, expenses Incurred, and/or net income is appropriate for capital maintenance, budget polley, manaqoment control, accountability, or other purposes. The City accounts for its Electric, Gas, Water, Sewer, Airport, Transit, Solld Waste, and Golf Course Funds as enterprise operations. These funds are primarily supported by user charges. Net income as used in these funds is a defined accounting term; it is different from budgetary income in that depreciation and transfers have been deducted but not bond principal payments, contributions to required reserve accounts, or capital outlay. ; l Comparative data for the last two fiscal years for the Electric Fund are presented below 1 l i 1988 1987 Operating Revenues $120,799,000 $114,703,200 Net income $7,647,700 13,806,000 i Amount Available for Debt Service 57,093,100 52,512,500 Maximun Osbt Service 14,032,300 14,804,500 Debt Coverage 4.07 3 55 Required Coverage 1.40- 1 40 Electric Fund operating revenues increased by $61 million over 19 6 due to en increase in consumption of 119,507 megawatts (7.7 percent) and an increase in customers of 3,168 (4.7 percent), and in turn net incom increased by $3,841,700. This increase is primar!!y j attributable to increased consumption by commercial customers due to the unexpected Increase In comerc ial customers over the past two years. The number of commercial customers increased to 11,672 in 1988, a 10 7 percent increase above what was projected. For the fiscal year 1988, this j growth was the primary contributor to budgetary profits of $7 9 million more than was budgeted. In accordance with the City's Financing Polley, the City will rebate 50 percent .($3 9 million) to the City's electric customers. The remaining 50 percent will be kept in the electric system to of fset future debt by utillzing it for capital projects. The City of Tallahassee maintains separate funds for its gas, water, and sewer operations. However, the outstanding bonds are principally Municipal Utllity Revenue Bonds secured by the revenues of the combined operations of these f unds; this combined operetton is renferred to as the 1 A-12
y J I l Municipal Utlitty System. Th er9 f ore, It is reasonable to show certeln combined data for the last two fiscal years as presented below: I 1988 1987 Operating o.svenues $31,754,300 $28,365,600 Net income 8,507,500 4,823,800 Amount Avalleole for Oebt Service 10,604,500 8,976,900 Maximum Debt Service 2,594,400 2,594,400 Oebt Coverage 4.08 3.46 Required Coverage 1 25 1 25 Net income in the Gas Fund increased from $389,300 in 1987 to $1,351,400 In 1988 , or 1962,100, due primarily to the increase in consumption. Gas consumption increased 4.4 percent over fiscal ; year 1987, which was 5 3 percent aboo the consump f bn projections. Also customers increased l f rom 7,867 customers to 8,310 customers, a C-6 peront increase. } ii Net income in the Water Furs t increased from $2,269,600 In 1987 to $ 3,863,400 in 1988, or
$1,593,800; operating income increased by 11,154,400. This can be attributed to the 9 2 percent rate increase and a 3.5 percent increase in customers. Consumption Increased 609 9 million gallons or 8 7 percent, which was 4 6 percent above projections. j Net income In the Sewer Fund increased from $2,164,900 in 1987 to $3,292,700 in 1988 or !
$1,127,800. Operating income Increased 1378,900 due to the 8 percent rate increase and a 2.9 percent increase in customers. Although consumption of water determines the sewer bill!ng, thers is a maximum based on consumption during She normally non-sprinkling nonths. Thus, the higher water consumption does not necessarily affect the sewer revenue generation in the same proportion. l
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Net income in the Airport Fund increcsed from 1806,300 in 1987 to a net income of $903,600 in I I 1988. This increase Is attributable to an increase In Interest earnings and increased activity at the aleport; enplanements bcreased 37,200 over 1987 to 450,442, which translated to a l 1195,400 Increase in conces9 ion revenue. ) The Tallahassee Transit Fund accounts for the City-owned bus system. The capital assets of the , system were primarily funded through Federal grants from the Urban Mass Transportation l Administration (UMTA). Additionally, each year the operating loss, exclustve of depreclatlon and capital purchases, has bean partially funded by a Section IX operating grant from UMTA. The loss before Operating Transfers increased from $2,184,900 in 1987 to $2,194,600 in 1988, or $9,700. Transportation fees actually increased $139,000 which helped to of fset the decrease of grant revenue of $91,500. This increase in revenues is attributable to an increase in charter service and contrac+ual survices (e.g., Florida State University (FSU), Florida Department of Health & Rehabilitative Services). Revenue passengers decreased from 1,501,548 In fiscal year 1987 to 1,448,158 in fiscal year 1988. The Golf Course Fund . is established as an enterpelse fund In 1988 since It is the Intent of the City to move towards f ull cost recovery in this operation. In the Golf Course Fund, the e was an operating loss of $223,400. The General Fund subsidized the Golf Course Fund in the amount of
$233,000, which was sipprox imate l y $40,000 less than was budgeted. Golf rounds increased to 74,056 in 1988, a 6 6 percent increase over 1987.
The Solid Waste Fund was also established as an enterprise fund In 1988 since it is the Intent of the City to move towards f ull cost recovery in these operations. The Solld Waste Fund had an operating loss of $1,706,900. The General Fund subsidtted the Solid Waste Fund in the amount of A-13 l
$ 1,5 24,100, resulting In a net loss of $182,800. The subsidy is related solely to residential services and, in order to reduce f u ture subsi dies, the City !s increasing its residential rates
$1 00 per month each fiscal year until full recovery is achieved. During 1988, commecclel customers increased by 517 (19 34 percent) to 3,190, and res tdantial customers increased by 1,332 (4 01 percent) to 34,572.
Internal Service Funds Internal service funds are established to account for the financing of goods and services provided by one d* irtment or agency to other departments or agencles of the government al unit on a cost-reimbursement basis. The City of Tallahassee accounted for its Reading, Billing, and Collection activities, Data Processing, Accounting, Central Stores, Purchasing, Garage, Human j Resources, Pension Administration, Risk Management, and Communications activltles as Internal service funds in 1989 The expenses associated with these funds are billed to other City departments through allocation methodologies deemed reasonable for each activity. Fiduclary Funds Fiduciary funds are established to account for assets held by the City in a trustee or agent capacity for Individuals, prlvate organizations, other governmental units, and/or other funds. Penston Trust Funds - The City maintains a retirement plan for its employees which covers police officers, firefighters, and general employees. Benefits very depending on the particular membership in the plan. The City is responsible for funding liabilltles of the plan based upon actuarlal valuations. Employees participate in both a de f ined benefit article and a defined contribution article. At September 30, 1988, the City's pension plan h ad total assets of
$153,565,800. In addition, the City maintains a supplemental share plan for police of ficers and firefighters. The total assets for these plans are $856,500 and $513,800, respectively. In order to obtain the highest possible yield on pension assets, substantially all of the assets are managed via contracts with private investment compantes. Further detalls concerning pension expenses, vested benefits, and actuarial assumptions are included in the notes to the financlal statements.
Expendable Trust Funds - Expendable trust funds consist of the Stadium Fund used to fund improvements, operations, and maintenance of the City's athletic stadlum); the Downtown Improvement Authority Fund (used to account for monles appropriated by the Downtown improvement Authority to regulate downtown growth); the Special Capital Projects Fund (used to provide a means for financing long-term capital projects wh ile minimizing the Impact on the Clty's operating budget); and the Deficiencies and Emergenc!es Fund (used to provide for unforeseen expenditures of an emergency nature). Those funds have total assets of $25,929,700 at September 30, 1988 tenerpendable Trust Fund - The Cemetery Perpetual Care Trust Fund was established pursuant to Commission action to provide for the perpetual maintenance of the City's cemeteries. This f und had total assets of $629,600 at September 30, 1988. Annncy Fund - The City of fers its employees a deferred compensation plan created in accordance with internal Revenue Code, Section 457. The City has chosen to have this plan administered by the International City Management Association Retirement Corporation. This f und had total assets of $3,034,000 at September 30, 1988. A-14
I General Fixed Asset Accmnt 3roup The general fixed assets of the City are those assets used in the performance of general l governmental f unctions and exclude the f!xed assets of the Enterprise and Internal Servlce Funds. I Governmental accounting dictates that these assets be accounted for separately from the General Fund since they do not represent financial resources evallable for expenditure. In accordance with generally accepted accounting principles, the City of Tallahassee does not record depreciation in the General Flxed Assets Group of Accounts. The City of Tallahassee has
$54,049,800 of general fixed assets whlch were acquired from General Fund revenues, bonds, snd 3 gifts. As sllowed by generally accepted accounting principles for local governments, roads, brldges, curbs and gutters, streets and sidewalks, dralnage systems, lighting systems, and ;
l similar assets tot are Imnmable and of value only to the governmental unit are not recorded as l general f(xed assets. Cash Manaqement Proqram 1 The City's banking service agreement calls for the bank, on a dally basis, to invest all mnles i in the City's demand accounts in an overnight repurchase agreement of the Federal Funds rate. Earnings directly attributable to our bank i ng services agre mnent for fiscal year 1988 are l 1294,900. l l 1 The City Charter relative to Investment of City funds provides for the adoption of an Investment polley. In connection with the City Charter, the City Commission adopted an Investment policy which provides a wlde range of securttles from which to choose, including U.S. Treasury Seicur iti es, bankers' acceptances, connercia l paper, various government agencies and sponsored j corporations, certi ficates of deposit, open and term repurchase agreements, and corporate fixed l 2ncome securttles. These instruments provide great flexibility and diversity, as wel; as a high f return on Investments. The policy also estabilshes restrictions that require diverst flcotton of Investment types and Issuers, liquidity and maturity provlslons, and standards for rating 4 security issuers. l l l These pollcles enable the City's Investment program to be In step with other Innovative municipal Investment operations and proyldes the mechanism for keept ng our pollcles current with the ever , changfng Investment environment. The result of these Investment pollcles was that the City's genersl Investment portfolto achieved an 8 89 percent ef fective yleH during fiscal year 1988. Perspectives l The economy of Tallahassee Is strongly orlented toward governmental and educational activltles. The ' emainder of the demand for labor Is almost equally divided into those Industry groups that support urban populations and governmental af f airs. The level of governmental mployment has a stabilizing ef fect on the economy and helps to keep unemployment down. Of the work force, 3 8 l percent nere unemployed in 1988. Since 1984 the percentage of employees employed by government l has leveled of f at approx!mately 43 percent of the work force. l Federal assistance is continuing to be less available as evidenced by the elimination of Federal l Revenue Sharing and anticipated continued reduced operating assistance from UMTA; et the same time, the City 1s attempting to raduce Its dependence on elec+ ele revenue for general I government al operations. There are acess in general government expenditures, specifically transportation and public safety, that are creating pressure on the general government dollar. A-15
During its 1985 session, the State Legislature passed the Growth . Management Act which requires the State and local governments to develop five-year comprehensive plans address!ng growth I related lasues for the particular political division. The State requires each unit of local government's plan to effectively co-exist (city with county, cl'y and county with regional planning council, etc.) to ensure that adequate attention is belng placed on +he Infrastructure needs of the State. l The City's plan, either Independently or jointly with Leon County, is due to the State on j February 1, 1990. Once adopted and approved by the State, the plan will be a legally binding document that wi l l have a high level of specif icity and will Identify the City's goals, objectives, and policles. It will identify needs, f acilltles, levels of service, and amounts and sources of revenues needed to meet the adopted levels of services. Once in place, all development decisions and approvals must be consistent with the plan. The a lternat i ve is a mandatory noratorlum on the issuance of new bullding permits. The City continues to aggressively seek new revenues through a number of approaches while continuing to address the whole spectrum of economy in government. The City has moved to increase user fees in many areas that f all under the City's purview. The economic pressure from reduced Federal contributions and reduced rellence on utility revenue support has led to an aggressive cost recovery approach for the general governmental activltles. Fees have risen to ! approach costs in many activities, including swimming pool, recreation, golf course, sanitation, 1 cemetery, parking, planning, and rentals. In the area of economic development, an aggressive ef fort by the City is underway. Significant achievements In this area follow:
. The City's Economic Development Ocmmission (EDC), a twelve-member advisory board '
appointed by the City Commission in 1985, has been developing programs that will create jobs, expand the tax base, and diversify the local economy. The EDC's major project is the development of an over one hundred acre mixed use of fice/Industrlal park. In the past eighteen months, the EDC has assisted in the recruitment of six new manuf acturing employers to Tallahassee. The largest of these employers are General Dynamics and Tadtran, Ltd., who ere partners for a contract to provide communication radios to the U.S. Army. At full production, General Dynamics and Tadiran will employ in excess of 700 people In the area of high-tech electronics. l Other EDC activities include the development of marketing and financial assistance programs @ signed to bring new businesses to the area, as well as helping local j businesses to grow and prosper. j 1
. The City selected the Sullivan Group, with Internationally known 1.M. Pel as architect, to design a 300 room hotel / convention complex with 16,000 square feet of meeting space, 200,000 square feet of of fice space, a swimming pool, a health club, a restaurant / lounge, a 1750 space parking garage and a 500 seat performing arts center. The cost of the l complex, including the garage and land, is approximately $100 million. The groundbreaking for the project Is scheduled for Spring, 1989 with completion by 1991.
The Importance of this event is the potential for attracting a great number of organizations to Tallahassee for meetings or conferences that might otherwlse h ave traveled to other cities. The complex Is being developed on City-owned land with the air rights being leased to the developea. In addition to a convenilon complex, the project will provide additional downtown parking with the parking revenues going to the City. Southwood Plantation, a development consisting of 13,679 residential units; 4,720,000 square feet of commercial space; 2,510,000 square feet of office space; 11,890,000 square feet of Industrial A-16
development; and 1,929 acres of open space and recreation, including two golf courses, has been proposed for Tallahassee. The development is scheduled to begin in 1999 and proceed through five phases, wi th a completion date in the year 2018 The residential population of the completed development is estimated to be 32,519. i During the 1987 legislative session, the Florlda Legislature enacted the " Local Government Infrastructure Commitment Act." The Act allows counties or municipalltles representing a j majority of a county's population to levy for a period of up to 15 years a one-half percent (one j half cent) or one percent (one cent) tax on all transactions subject to the state sales tax. The enactment of this surtex must be approved by a majority of voters in referendum. The proceeds of j the surtex may only be expended on Infrastructure, defined as any fixed capital e<penditure or f ixed capital costs associated wIth the construction, reconstruction, or improvement of public facilltles wh i ch h ave a life expectancy of five or more years, and land acquisition, land improvement, design and engineering costs related thereto. The City has proposed that the surtex be utillzed to fund City and Coun ty roads, and to advance fund some state road projects as identifled in the 2010 Transportation Plan. The surtax is estimated to generate approximately
$180,000,000 over the 15 year period. The City and County are currently in negotiation as to the j terms of enacting the surtex, and it Is anticipated that the surtax w!Il be brought to referendum -
In the spelng of 1989. The City has also taken steps regarding its future energy needs and costs. In order to defer the cost of electric plant expansion, the City has secured a Purchased Power Agreement n!th the Southern Company that ensures cost of fective delivery of energy to the City's citizens through j May 31, 2000, and has Instituted an aggress!ve marketing program of the City's gas system. In order to keep utility rates as low as possible, the City and Florida Gas Transmission Company recently executed agreements which, subject to the approval of the Federal Energy Regulatory Commission (FERC), wlli provide new and projected to be lower cost gas supply for both the City's electric system and gas system. In addition, to enable the City to take advantage of potential i spot market gas purch ases, the Clty has recently completed negotiations with South Georgia i Natural Gas Company (SGNG) regarding the availablllty of Interruptible transportation service over the SGNG gas pipellne. This agreement is also subject to approval by FERC. During fiscal I year 1989, the City authorized a f uel procurement of ficer who is responsible to procure f uel (011 l and natural gas) for the electric system and the gas distribution system. ) { Certain other events that occurred during 1988 af fected or w!ll af fect the electric system, as follows:
) . The Florida State University's (FSU) Selection Committee for its cogeneration project completed its ranking of the three proposals dur!ng the fourth quarter of fiscal year 1988 The number one ranked proposal was the partnership arrangement between Foster Wheeler Corporation, the City of Tollahassee, and Ruston Turbine. Beginning early in fiscal year 1989, the members of the partnersh!p will be involved in negotlatlng the terms and conditions of the partnership's contracts / agreements and the service agreement (s) with FSU.
The City !s participating in the project in order to recover some of the anticipated lost revenue from FSU, The City's largest electric customer.
. Dar ing fiscal year 1988, the Electric Department initlated a repatr/ upgrade project for Units 5 and 6 at the Purdom Generating Station with a budget amount of $1,750,000. These repalrs/ upgrades w!ll improve unit ef ficiency as well as extend the projected li fe of the units.
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. Duri ng May 1988, Seminole Electric Cooperative experienced substantial damage due to a fire !
In its 600 MW Coal Fired Unit Pb. 1 which caused Seminole to be deficient to provide demand and energy to its customers. The City and Seminole previously executed a contract for the City to provide reservation sales from January 1, 1989 through December 31, 1992 During May 1988, the City and Seminole snended the contract, and sales began during May 1988 and continued through September 30, 1988, and are expected to continue for soveral more mnths. Total sales revenue from Seminole through September 30, 1988 was 12,124,160, and associated expenses Incurred by the Electric Department to produce energy sales to Seminole was
$1,403,206 (the cost of fuel). The results of sales (61,440,000 KWH) to Seminole were net revenues of $720,944 during this period.
The City Comission received the Sower Master Plan in the summer of 1988 that outlined the major oewer Improvements needed through the year 2010. The major capital costs will be Incurred in the first six years of the plan. These costs are expected to impact the sewer rates and sewer system charges (Impact fees). A sewer rate study that includes these Increased capital costs will be ] presented to the City Commission in March or April of 1989. Ouring the 1988 legislative session, the Florida Legislature passed the Solid Weste Management Act. The Act has numerous provisions, with required Implementation dates, wh ich will h yt;, a significant impact on waste collection within the City. The Act w!ll require, among other things, the Initlation of a recycling program and a regulred reduction In the amount and type of waste allowed to be placed in landfills. The City Is currently negotiating a consulting contract to review the Act and determi ne Its Impact on the City. Progress on construction of a new $29.5 million terminal at the Tallahassee Regional Aleport is continuing at a rapid pace. The project, st ated for completion in Summer,1989, wi l l br i ng the City a new "H-shaped" terminal complex with five jet gates and f our ground-level commuter gates. The conflguratlon of the teJminal building Is designed in a way wh ich will easily allow the terminal to expand as needs require. The new terminal will be more than three times the size of the existing terminal, and the jet gates will be equipped with loading bridges which will allow travelers to board planes through enclosed corr!does rather than from outside. The project is being funded through Aleport Revenue Bonds, and FAA and Sta te of Florida Department of Transportation grants. I Stormwater management continues to be a concern for the Clty. In order to address this concern, the City previously implemented a stormwater utility fee as a means of financing stormwater 1 operations and improvements; ls currently performing a mapping of City-wide stormwater l f acilities; and, in conj unction with Leon County, entered Into a contract with the Northwest Florida Water Management Olstrict to have a comprehensive Stormwater Management Plan developed. When developed, the plan will provide the City and County with a hydrological model for the City's major lakes and a pelorf ttzed list of stormwater capital needs. l Under the Florida Constitution, the State Legislature la the body responsible for determining thw ) tax!ng authority that units of local government may have. As Indicated earlier, the Legislature has passed some legislation providing the means for raising the necessary dollars at the local level. 6 wever, as mre and mre of the problems of local government and State and Federal mandates have to be financed locaily, the Legislature will have to continue to provide the means necessary to raise the required revenues. Independent Audit The Florida Statutes and the City's Boad Resolutions require an "...nual audit of the books of A-18 l _ _ _ _ - _ - _ _ _ _ _ __ _ - _ _ _ - . _ - _ _ _ - _ _ _ _ _ _ - _ _ . . _ _ _ i
I account and flnencial records of the City by independent certified public accountants selected by the City Commission. This regulrement has been compiled with and the auditors' 001010n has been included in this report. Awards The Government Finance Officers Association of the United States and Canada (GFOA) nwarded a Certlflcste of Achievement for Excellence in Financial Reporting to the City of Tallahassee, Florida for its Comprehensive Annual Financial Report for the fiscal year ended September 30, 1987. In order to be awarded a Certi ficate of Achievement, the City must publish an easily readable and I efficiently organized comprehensive annual financial report, whose contents con form to program standards. Such reports must satisfy both generally accep ted accounting principles and . applicable legal requirements. ) A Certificate of Achievement is valid for a period of one year only. We believe our current report continues to con form to Certificate of Achievement Program requirements, and we are submitting it to the GFOA to determine its ellglbility for another certi ficate. { In addition, the City received the GFOA's Award for Distinguished Budget Presentation for its annual budget for the fiscal year beginning October 1, 1987. In order to quellf y for the Distinguished Budget Presentation Award, the City's budget document was j udged to be proficient in several categories including policy documentation, operations guidance, financial plenning and communications. Acknowledgments The preparation of this report on a timely basis could not be accomplished without the ef ficient and dedicated services of the entire staf f of the Finance Department, in particular the members of the Accounting Division who actually complied the report. We woul d also like to thank the members of the City Commission for thele Interest and support in planning and conducting the financlel operations of the City in a responsible and progressive manner. Respectfully submltied, l l Philip F. Inglese, C.P.A.
+ctor of Finance AVM
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s . Daniel A. Kleman City Manager A-19
Cer:r. .ica::e or Acnievemen: 1
- or 2xce ..ence in Financia.
Repor:ing Presented to City of Ta ahassee, F oric a For its Comprehensive Annual ; Financial Report ! for the Fiscal Year Ended i September 30,1987 : A Certificate of Achievement for Excellence in Financial Reporting is presented by the Govemment Finance Officers Association of the United States and Canada to govemment units and public employee retirement I systems whose comprehensive annual financial f reports (CAFRs) achieve the highest standards in govemment accounting and financial reportinr
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O,$' e,es. dent t Executive Director i 1 I 1
CITY OF TALLAHASSEE, FLORIDA 1 ORGANIZATION CHART. l I The People j of Tallahassee , City Commission , i 1 I City Treasurer -City City Actorney Clerk Manager Auditor Deputy City Deoucy City J Manager Comm. Manager Admin. Services Services 1 i 1 Director- 1 rect r- irector- Director-Water Management Employee Director- l Electric & and Budget Relations Finance ; Sewer Director- Director- Director- Director- i Public Community Fire Chief Affirmative Works Improvement py, Action Director- Director- Police Director- Director- i Parks and Chief General' Recreation
,g Data.
Services Services Director- Director- !
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CTTY OF TALLAHASSEE, FLORIDA LISTING OF CITY OFFICIALS ELECTED OFFICIALS Mayor-Commissioner. . . . . . . . . . . . . . . . . Frank VIscont! Mayor Pro Ten Commissioner. . . . . . . . . . . . . Dorothy Inman Commissioner. . . . . . . . . . . . . . . . . . . . Steve Melsburg Commissioner. . . . . . . . . . . . . . . . . Jack L. McLean, Jr. Commissioner. . . . . . . . . . . . . . . . . . . Betty G. Harley APPolNTED OFFICIALS l City Manager. . . . . . . . . . . . . . . . . . . Daniel A. Kleman l City Treasurer-Clerk. . . . . . . . . . . . . . . Robert B. Inzer City Auditor. . . . . . . . . . . . . . . . . . Ricardo Fernandez City Attorney . . . . . . . . . . . . . . . . . . James R. English DEPUTY CITY MANAGERS Administrative Services . . . . . . . . . . Charles F. Cuthbertson Community Services . . . . . . . . . . . . . . . Jerry L. Maxwell DEPARTMENT DIRECTORS l Affirmative Action . . . . . . . . . . . . . . . . .Sharon Ofuani Aviation . . . . . . . . . . . . . . . . . . . . . Jerry L. Sealy Community improvement. . . . . . . . . . . . . . George R. Manning Data Services. . . . . . . . . . . . . . . . . . . . . Fred Joiner , Electric . . . . . . . . . . . . . . . . . . . Benjamin Walt, 111 I Employee Relations . . . . . . . . . . . . . . . . Gloria D. Hall Finance. . . . . . . . . . . . . . . . . . . . . Philip F. Inglese Firo . . . . . . . . . . . . . . . . . . . . . . .Edwin C. Ragans Gas Utility. . . . . . . . . . . . . . . . . . . Samuel Davis, Jr. General Services . . . . . . . . . . . . . . . .Kenneth M. Austin Management and Budget. . . . . . . . . . . . . . Donald A. Corley Parks and Recreation . . . . . . . . . . . . . . . Randy Trousdell i Planning . . . . . . . . . . . . . . . . . . . Edward R. Mack, Jr. I Police . . . . . . . . . . . . . . . . . . . . . Melvin L. Tucker Public Works . . . . . . . . . . . . . . . . . . .Rhett A. Miller TalTran (Tallahassee Transit). . . . . . . . . . . John L. Carter Water and Sewer. . . . . . . . . . . . . . . . . . James H. Peters A-22
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I FINANCIAL SECTION This section contains the following subsections: Auditors' Report General Purpose Financial Statements l Combining and Individual Fund and Account Group-Statements and Schedules l l l
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Williams 1 Coo 3ers Cox 1
&Ly3 rand {
Weidner . I Cox i I li The Honorable Mayor-Commissioner and Clty Commtsaloners City of Tallahassee, Florida , l INDEPENDENT AUDITORS' REPORT We have audited the accompanying general purpose financial statements of the City of Tallahassee, Florida and the Individual fund f inonci al statements of the City's electric, gas, sewer, water, and alrport enterprise funds, as of and for the year ended September 30, 1988, as listed in the Table of Contents. Thssa financial statements are the responsibility of the City's management. Our responsibility is to express an npinion on these financial statements based on our audit. Wa conducted our audit in accordance with generally accepted auditing standards. Those standarth require that we plan and perform the audit to obtaIn reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. i in our opinion, the general purpose financlot statements referred to above present fairly, In al l material respects, the financial position of the City of Tallahassee, Florida, at September 30, 1988, and ! the results of its operations and the chan ges in financial position of Its proprietary f und types and similar trust funds for the year then ended, In conformity with generally accepted accounting principles. I Also, in our opinion, the individual f und financial statements of the City's electric, gas, sewer, water and alrport enterprise funds present f airly, In all material respects, the financial position of each of ' these enterprise f unds of the City of Tallahassee, Florida, at September 30, 1988, and .the results of operations of such funds and the changes in their financial position for the year then ended, in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements tsksn as a whole and on the Individual f und financloi statements of the City's electric, gas, sewer, wa ter and airport enterprise f un ds. The combining and Individual fund and account group financial statements and schedules listed in the Table of Contents (except for the enterprise f unds referred to aboys) are presentsd for purposes of additional analysis and are not a required part of the financial statements of the City of Tallehessee, Florida. Such Information has been subjected to the auditing proc *dures applied in the audit of the financial statements and, in our opinion, Is folrly stated in all met:rlal respects In relation to the financlel statements taken as a whole. As discussed in Note Il-Part D to the financial statements, the City established three new proprietary funds that were previously reported in the General Fund. B-1
r-Certain 1997 data included in the general purpose financial statements and the combining and Individual fund financial statements of the City's enterprise f unds and the accompanying suppleinental Information were contained in the City's c&nprehensive annual financial report for the year ended September 30, 1987, and are included herein for comparative purposes only. The Information shown in the statistical section listed in the Table of Contents has not been subjected to auditing procedures suf ficient to enable us to express an opinion as to the f airness of all the Information included therein and, accordingly, we e not express an opinion thereon. 21s_ t__ f October 31, 1988 Coopers & Lybrand Tallahassee, Florida WIlilams, Cox, Weldner & Cox i I 4 I D-2
.o 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, FARIDA CGEINED BALANCE SHEET - ALL FU10 TYPEF A00 ACCOUNT G40VPS September,30, 1988 .q a Governmental Fund Types Special Debt. Ca p ital General Revenue Service Project s ASSETS Cash- ............... 5 41,300 $ 4d,500 $ -- Eaulty in Pooled Cash . . .... 4,029,000 936,800 3,480,800 38,863,100 Investments . . .'. . . . . . . . -- -- 4,460,400 -- Receivables: Special Assessments - Current . -- -- ' -- ' 227,600 Special Assessments - Deferred. -- -- -- . -473,800 Accrued Interest. ....... -- -- ,132,700 130,800 Notes . . . . . . . . . . . . . 15,000 205,000 -- -- Customers . . . . . . . . . . . 533,200 -- -- ' - Acc ou n t s. . . . . . . . . . . . 699,200 263,700 -- 172,500 Less: Allowance for Doubtful Accou n t s . . . . . . . . . . . (64,400) -- -- -- ' Due f rom Other Governments. . . . -- -- -- -- Due from Other Funds. . . . . . . -- -- -- -- Advance to Other Funds. . . . . . 733,600 -- -- -- Deposits. . . . . . . . . . . . . -- -- 55,800 -- Inventory . ......... .. 5,600 -- . - - -- Restrleted Assets: Eaulty in Pooled Cash . . ... -- -- -- -- Cash with Fiscal Aaent. . ... -- -- -- '-- Accounts Receivable . . . . . . -- -- -- -- Pbtes Rece i vab l e. . . . . . . . -- -- -- -- Flxed Assets (Not of Accumulated Depr eciat ion) ......... -- -- -- -- Unamortized Bond issue Costs. . . -- -- -- -- Unamortized Loan Issue Costs. . . -- -- -- -- Amount Avellable In Debt Service Funds . . . . . . . . . . . . . -- -- -- l
-- 3 Amount to be Provided for Retire-
_j ment of Oeneral Long-term Debt: Donds, Notes, and Loans Payable -- -- -- -- Accrued Leave . . . . . . . . . -- -- -- -- Total Assets. . . . . . . . . $ 5,992,500 $ 1,4 50,000 $ 8,129.700 $ 39,867,800 l J l d 6
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CITY OF TALLAHASSEE, FLORIDA F iduc iary Totals Proorletary Fund Tvens Fund Type Account W ouos (Memorandum Oniv) Internal Trust and General General Long- Septunbar 30, September 30 I Enterprise Service Acency Fixed Assets term Debt 1988 1987 $ 101,600 1 11,200 $ -- 5 --
$ 198,600 $ 125,600 22,320,200 9,185,100 41,043,300 -- -- 119,858,300 96,722,200
-- -- 138,955,700 -- -- 143,416,100 126,387,300
.- -- -- -- -- 227,600 225,000
-- -- -- -- -- 473,800 703,900
-- -- -- -- -- 263,500 226,800
-- -- -- -- -- 220,000 370,300 11,688,900 -- -- -- -- 12,222,100 11,600,700 2,347,300 25,000 215,400 -- -- 3,723,100 3,082,000 (1,598,700) -- -- -- -- (1,663,100) (1,186,800)
-- -- 2 788,200 -- -- 2,788,200 --
-- 45,200 -- -- -- 45,200 45,200
-- -- 1,527,800 -- -- 2,26f,400 525,900
-- 6,500 -- --
62.300 60,700
)
9,177,500 2,328,600 -- -- -- 11,511,700 11,431,100 l 131,711,300 7,558,800 -- -- -- 139,270,100 123,288,800 1,226,300 -- -- -- -- 1,226,300 -- 887,300 -- -- -- -- 887,300 339,700 I 3,013,900 - -- -- -- 3,013,900 2,119,300 313,858,700 10,253,900 -- 54,049,860 -- 378,162,400 360,776,500 1,046,900 -- -- -- -- 1,046,900 690,000 166,300 -- -- -- -- 166,300 172,200
-- -- -- -- 8,119,000 8,119,000 6,825,600
-- -- -- -- 14,507,000 14,507,000 15,826,300
-- - -- - 2.959,300 2,959,300 2,280,200
$499,947,500 $ 29,414,300 $l84,530,400 $ 54,049,800 1 25,585,300 $ 844,967,300 $762,638,500 The accompanying notes are an integral part of these financial statements. B-5
CITY OFTALLAHASSEE FLORIDA 0 COBEINED BALANCE SHEET - ALL FUIO TYPES AND ACCOUNT GROUPS
. Septa-her 30, 1988 (Conth Jed)..
Governmental Fund Types Special Debt Capital LI ABILITIES AND FUND EOUlTY General Revenue Servic _ Projects Liabilities: Ac cou n t s Pa ya b l e . . . . . . . . . . 5 -273,500 5- 6,100 $ 10,700 5 487,700 Claims Payable . . ......... -- -- Accrued Leave. . . . . . . . . . . . Contracts Payable. . . . . . . . . . -- -- Retalnage Payable. . . . . . . . . . -- -- -- 182,500 Due to other Funds . . . . . . . . . 41,300 -- -- -- ' Ad va nce f r om Other Fund . . . . . . . -- -- -- -- Customer Ad vances. . . . . . . . . . -- -- -- -- Utility Deposits Payable . . . . .,. - - - - -- ' - Loan from Municipal Retirement Fund. -- -- -- -- Paythle from Restricted Assets: Accrued Interest and Commissions Payable. . . . . . . . . . . . . Retalnage & Accounts Payable . .. -- -- -- -- Deferred Compensation Payable. . . . - -- -- -- I Deferred Revenue . . ........ -- -- -- 473,800 Revenue Bonds Payable. . . . . . . . - -- -- - Unamortized Bond Discount. ..... -- -- -- --- Special Assessment Certificates Payable. ............. - -- -- -- Loa n Paya b l e . . . . ........ - - -- -- Total Liabilities. . . . . . . . . 314,800 6,100 10,700 1,144,000' Fund Equity: Contributed Capital. . . . . . . . . .-- -- -- -- Investment in General Fixed Assets . -- -- -- -- Retained Earnings: Reserved . . . . . . . . . . . . . -- -- -- -- Un r es er ved . . . . . . . . . . . . Fund Balances: Reserved . . . . . . . . . . . . . 2,929,400 1.032,500 8,119,000 30,951,500 Unreserved: Deslaneted . . . . . . . . . . . -- -- -- - Undesignated . . . ....... 2,748,300 411.400 - 7,772,300 Total Fund Eaulty. . . . . . . 5,677,700: 1,443,900 8,119,000 38,723,800 Total Liabilities and Fund Eaulty . . . . . . . . .. 55,992,500 $1,450,000 58,129,700 539,867,800 B-6 _i_____________________________._____________._.______ _ __ _ __
~1 CffY OF TALLAHASSEE, FLORIDA -
1 F l c-o l a ry Totals Propeletary Fund Types Fund Type Account Groups' (Memorandum Only) Internal Trust and General General.Long. September 30, September 30. Enterpelse Service Acency Fixed Assets term Debt 1988 1987 3 10,178,300 $ 133,500 $ 3,400 $ -- $ -- $ 11,093,200 $ 7,883,6-3 i
-- 1,522,500 -- -- -- 1,522,500 1,162,800 2,246,500 736,900 -- -- 2,5-M ,300 5,942,700 'd,763,000 l 3,313,700 -- -- -- -- 3,313,700 3,011,500 l
-- -- -- -- -- 182,500 279,700 3,900 -- -- -- -- 45,200 45,200 2,240,700 -- 20,700 -- -- 2,261,400 525,900.
207,800 -- -- '-- -- 207,800- 254,400 6,724,900 -- -- -- -- 6,724,900 5,674,900
-- -- .. -- --. -- 223,900 827,600 -- -- -- -- 827,600 72,500 834,000 -- -- +- -- 834,000 657,700' !
-- -- 3,034,000 -- -- 3,034,000 2,574,000 -
372,700 -- -- -- -- 346,500 770,800 140,858,300 -- -- -- 20,605,000 161,463,300 154,643,500 (2,311,200) -- --- -- -- (2,311,2001 (2,202,500)
-- -- -- -- 16,600 16,600 24.900 16,035,300 - - - 2,004,400 18.039,700 14.200,000 181,532,500 2,392,900 3,058,100 - 25,585,300 214.044,400 198,565,800 56,135,300 4,460,900 -- - -- 60,596,200 58,152,500
-- -- -- 54,049,800 -- 54,049,800 54,788,900 126,665,700 9,074,900 -- -- -- 135,740,600 119,546,800 131,614,000 13,485,600 -- -- -- 145,099,600- 130,564,900
-- -- 156,530,100 -- -- 199,562,500 161,576,300
-- -- ~2,814,500 -- -- 2,814,500 2,814,500
-- - 22,127,700 -- - 33,059,700 36,628,800 314,415,000 27,021,400 181,472,300 54,049,800 -- 630,922,900 564,072,700' I
$ 495,947,500 $29.414,300 $ 184,5 30,4 00 $ 54,049,800 $ 25,585,300 $844,967,300 1762,638,500 l i 4 The accompanying notes are an Integral part of these financial statements. 'B-7
-)
. I i
CITY OF TALLAHASSEE, FLORIDA CDMDINED STATDENT OF REVENUES, EFEMDITURES, AND CHANGES IN FUND BALANCES ALL GOVERNMDfTAL FUND TYPES AND EPDIDABLE TRUST FUNDS For the Fiscal Tear Ended September 30, 1988 Governmental Fund Types Special Debt Geaeral Revenue Ser vice Revenue s Special As sessment Revenues. . . . . . . . . . . . $ $ $ Taxes. . . . . . . . . . . . . . . . . . . . . . . 17,877,000 - -- L icenses and Permi ts . . . . . . . . . . . . . . . 1.367,400 - - Intergovernmental l Revenues . . . . . . . . . . . . 8,810,500 1,578,000 -- Charges for Servi ces . . . . . . . . . . . . . . . 3,186,100 1,527,900 - Fines and Forfelts . . . . . . . . . . . . . . . . 753,300 44,400 -- Interest Earned. ................. 296,200 29,900 410,800 Mi sce l l aneou s Re ven ues . . . . . . . . . . . . . . 837,300 97,500 - Tota l Revenues . . . . . . . . . . . . . . . . . 33,127.800 3,277,700 410,800 Expen ditures: Current: General Government . . . . ............ 6,890,000 121,100 - Pubile Safety. . . . . . . . . . . . . . . . . . . 21,143,600 51,400 -- Transportation . . . . . . . . . . . . . . . . . . 6,978,700 49,000 - Human Services . . . . . . . . . . . . . . . . . . 1,007,000 551,800 -- Economi c En v i ronme nt . . . . . . . . . . . . . . . 273,500 1,155,200 - Physica l En vironment . . . . . . . . . . . . ... 955,800 2,315,200 -- Cu l ture and Recrea tion . . . . . . . . . . . . . . 4,404,000 8,000 - Capital Outlay . . . . . . . . . . . . . . . ... Debt Service Pr hci pa l Ret ired. . . . . . . . . . . . . . . . . - - 25,900 In terest and Fi sca l Charges. . . . . . . . . . . . - - 2,201,800 Tota l Expendi tures . . . . . . . . . . . . . . . 41,652,600 4,251,700 2,227.700 Excess of Revenues Over (Under) Expenditures. . . . . . . . . . . . . . . . . . (8,524,800) (974,000) (1,816,900) Other Financing Sources (Uses): Advance to Other Fund. ............... 743,800 - - Deb t Procee d s. . . . . . . . . . . . . . . . . . . . Proceeds from Sale of Property . . ......... - - Opera tin g Tran s f er s i n . . . . . . . . . . . . . . . 26,455,200 1,504,300 3,110,300 Operating Transfers Out. .............. (16,634,800) (5,000) - Total Other Financing Sources (Uses) ....... 10,564.200 1,499,300 3,110,300 Excess of Revenues and Other Sources Over(Under) Expenditures and Other Uses . . . . . . . . . . . . . . ........ 2,039,400 525,300 1,293,400 F un d Ba l ance s - October 1. . . . . . . . . . . . . . . 4,452,300 855,200 6,825,600 Residua l Equity Trans f ers. . . . . . . . . . . . . . . (814,000) 63,400 - F un d Da l ences - September 30 . . . . . . . . . . . . . $ 5,677,700 $ 1,443,900 $ 8.119,000 B-8 .
l CITY OF TALLAHASSEE, FLORIDA Fiduciary Totals Fund Type (Memorandum only) Capital Expendable September September f Projects Trust 30, 1988 30, 1987
$ 231,600 $ -
$ 231,600 $ 336,300
- 77,200 17,954,200 14,451,400
-- - 1,367,400 997,400 28,200 882,900 11,299,600 9,853,700 g
-- 23,300 4,737,300 9,853,500 _]
- - 797,700 786,900 .{
2,781,200 1,735,300 5,253,400 4,952,800 ] 445,200 42,800 1,422,800 983,500 j 3,486,200 2,761,500 43,064,000 42,215,500 l 941,300 74,600 8,027,000 7,038,900 22,000 - 21,217,000 18,232,700 6,489,200 - 13,516,900 13,693,700 81,600 - 1,640,400 1,653,200 170,300 -- 1,599,000 1,358,900 91,200 - 3,362,200. 7,540,300 467,500 72,500 4,952,000 5,050,000 3,824,400 - 3,824,400 7,962,400
- - 25,900 2,014,600
- - 2,201,800 2,244,600 12,087,500 147,100 60,366,600 66,789,300 (8,601,300) 2,614,400 (17,302,600) (24,573,800) l
- - 743,800 --
-- - - 2,000,000 l 7,600 - 7,600 319,200 13,394,500 506,700 44,971,000 43,546,400 (3,206,000) (970,300) (20,816,100) (20,155,900) 10,196,100 (463,600) 24,906,300 25,709,700 l
1,594,800 2,150,800 7,603,700 1,135,900 1 37,129,000 23,757,200 73,019,300 72,776,900
- - (750,600) _ 893,500)
( j
$ 38,723,800 $ 2 5,908,000 $ 79,872,400 $73,019,300 l
l The accompanying notes are en integret part of these financlel statements. &-9
CITY OF TALLAHASSEE, FLORIDA COMBINED STATEENT OF REVDIUES AND EXPENDITURES - 50GET AND ACTUAL , GENERAL FIAC TYPE For the Fiscal Year Ended September 30, 1988 , J l 1988 1987 Actual On Verlance-Budge tary Favorable-Budget Basis (Unfavorable) Actual Actual i Revenue s: ' Taxes. . . . . . . . . . . . $17,721,900 $17,877,000 $ 155,100 $17,877,000 $ 14,380,100 L icenses and Permits . . . . 1,016,900 1,367,400 350,500 1,367,400 997,400 Intergovernmental Revenues . 7,987,400 8,810,500 823,100 8,810,500 7,710,200 Charges for Services . . . . 3,151,500 3,186,100 34,600 3,186,100 8,809,400 Fines and Forfelts . . . . . 781,700 753,300 (28,400) 753,300 751,900 Interest Earned. . . . . . . 258,700 296,200 37,500 296,200 298,400 Miscellaneous Revenues . . . 952,500 837,300 (115,200) 837,300 826,400 Tota l Revenues . . . . . . 31,870,600 33,127,800 1,257,200 33,127,800 33,773,800 Expenditures: Current: Genera l Goverrment . . . . 7,402,800 6,935,800 467,000 6,890,000 6,660,900 P ub l i c Sa f ety. . . . . . . 22,947,100 22,405,600 541,500 21,143,600 10,113,100 Transportation . . . . . . 7,305,900 7,016,000 289,900 6,978,700 7,053,700 Human Services . . . . . . 1,038,200 1,006,100 32,100 1,007,000 989,100 j Economic Environment . . . 274,000 273,400 600 273,500 264,700 Physical Environment . . . 1,109,200 968,200 f4f,000 955,800 7,516,700 Culture and Recreation . . 4,529,900 4,390,300 139,600 4,404,000 4,719,900 Total Expenditures . . . 44,607,100 42,995,400 1,611,700 41,652,600 45,318,100 1 Excess of Revenues Over I (Under) Expenditures. . (12,736,500)' (9,867,600) 2,868,900 (8,524,300) (11,544,300) l Other Financing Sources (Uses): Advance to Other Fund. ... - - - 743,800 - Operating Transfers in . . . 26,455,200 26,455,200 -- 26,455,200 25,399,700 j Operating Transfers out. .. (14,244,000) (16,634,800) (2,390,800) (16,634,800) (14,151,600) -l Totcl Other Financing Sources (Uses) ..... 12,211,200 9,820,400 (2,390,800) 10,564,200 11,248,100 1 Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses . . . . . . . . . . $ (525,300) $ (47,200) $ 478,100 $ 2,039,400 $ (296,200) l 1 1 0-10 The accompanying notes are an Integral part of these financial sta'ements. l
CITY OFTALLAHASSEE0 FLORIDA Coelnad Statuaant of Revenues, Esponese and Changes In Aetelned Earnlegs/ Fund Belancoe All Proprietary Fund Typse and Sletter Trust Funde For the Flecal fear Ended September 3 , 1988 Totals
>corle+eev Fund Types ridueleev Fund Tvoo (Memorendum On tv)
Inter nal Pension Noneeendecle September September En+ereelse Seevice Trus+ trust M. 1988 T. 1987 , Operating Revenues: Charges for Servi ces. . . . . . . . . . . . $165,905,100 $26,728,900 $ - 1 - $ 192,634,000 $170,720,300 invoets.snt Revenue. . . . . . . . . . . . . - - 7,016,700 44,600 7,061, J00 8,423,000 investment Ga ins-Net. . . . . . . . . . . . - - 10,701,000 - 10,701,800 14,114,600 Contr i but ions . . . . . . . . . . . . . . . - - 14,094,600 - 1 4,094,600 11,592,100 Miscellaneous . . . . . . . . . . . . . . . - - 12,100 33.800 49.900 79. 300 Total Operating Revenues. . . . . . . . . 169.909.100 26.778.900 31.829.200 78.400 224.937.600 204.879. T0 Operating Expenses: Personal Services . . . . . . . . . . . . . 20,903,600 7,704,500 - - 28,608,100 23,558,700 Fossti Fuel . . . . . . . . . . . . . . . . 32,604,700 - - - 32,604,700 35,819,900 Power Purchased . . . . . . . . . . . . . . 14,189,200 - - - 14,189,200 12,000,500 Ges Purchased . . . . . . . . . . . . . . . 5,162,100 - - - 5,162,100 5,649, J00 Meterfels and Supplies. . . . . . . . . . . 4,246,300 341,000 -- - 4,587,J00 2.368,500 Contractua l Servlees. . . . . . . . . . . . 20,981,900 11,193,500 - - 32,175,400 25,156,000 Other Expenses. . . . . . . . . . . . . . . 6,662,800 3.040,400 - - 9,703,200 9,841,100 Less: Apolled Eeulpeent Charges . . . . . . (467,900) = = - (467,900) (416,100) Deprecletion. ............... 12,269,000 1,620,800 - - 13,889,800 13,166,200 J Asortlaation. . . . . . . . . . . . . . . . 197,200 - - - 197,200 169,000 i Benefit Payments. . . . . . . . . . . . . . - - 3.752,400 - 3,752,400 3,264,000 l Re f unds . . . . . . . . . . . . . . . . . . - - 1,131,500 - 1,131,500 953,800 j insurance . . . . . . . . . . . . . . . . . -- - 13,200 - 13,200 25.100 Adelnistration. . . . . . . . . . . . . . . - - 779.300 - 779. To 686.200 Total Operating Expenses. . . . . . . . . 116.7 4R,900 _13.900.700 9.676.400 - 146.329.500 132.323.000 Operat i ng income. . . . . . . . . . . . . 49.196.200 7.828.700 26.148.000 78.400 78.212.100 77.99 2. TO Non-operating Revenues (Expenses)t l Interest Revenue. . . . . . . . . i . . . . 11,958,100 652,300 - - 12,610,400 10,66 3,100 j Gain on Sale - $rplus Property . . . . . . 7,0C0 74,100 - - 81,900 87, 2 0 , Or ent Revenue . . . . . . . . . . . . . . . 678,500 - - - 678,500 770,000 j Other Revenues. . . . . . . . . . . . . . . 2,064,800 - - - 2,864,800 4,1 J8,800 l Interest & Coesission Expenses. . . . . . . (12,713,500) - - - (12,713,500) (12,032,500) Interest Capit*llred. . . . . . . . . . . . 2,010,000 - - - 2,010,000 - Loss or, Sa le of Property. . . . . . . . . . (26,000) - - - (26,000) (193,3001 j Orner Expense s. . . . . . . . . . . . . . . (7.798.400) - - - (7.198.400) (1.449.700) i Total Non-operating Revenues. . . . . . . 1.981. 300 726.400 - - 2.707.700 1.983.700 incomo Before Operating Transfers . . . . 51,1 37,500 3,555,100 26,148,800 78,400 80,919,800 74,536,000 Operating Transfers in. . . . . . . . . . . . 4,226.200 1,553,500 - - 5,779,700 4,202.400 Operating fransfers Out . .......... (78.798.600) (1.1 36.000) - - (79.934.600) (77.997.900) Not income. ................. 26,565,100 3,972,600 26,148,800 78,400 56,764,900 51,145,500 Olsposition of Not income: Increase in Contributed Capital . . . . . . (160,000) - - - (160,000) (32,400) Deprocletion on contribu+ed Assets. . . . . 1.687.600 - - - 1.687.600 1.791.900 Not increase in Retained Earnings / Fund Balances. . . . . . . . 28,092,700 3,972,600 26,148,800 78,400 58,292,500 52,864,600 Retained Earnings / Fund Balances - October 1. . . . . . . . . . 2 5.187.000 18.987.900 J8.789.900 991.700 3711.112.000 329.747.400 j Retained Earnings / Fund Belances - September 30. . . . . . . . . h 2 & 7g 122.960.900 $194.9 34. 700 1 679,600 1435.404.900 g The ===r ylng notes are en fotogral Part of thmes finenetel stwtements. 5 11
CITY OF TALLAHASSEE, FLORIDA 1 Combined Statement of Qianges In Financlel Pasitlan All Proprietary Fund Types and Similar Trust Funds For itis Fiscel 7eer Esdod Septemmer 3,19fl0 Totals . I Propeleteev Fund tvoes Fiduelaav Fund tvoes (Meaceancum Onivi internal Pension Nonewpendeble Septembee Septescer Ser vlee teus+ teus+ 30, 1988 30, 1987 En+ereelse Sources of working Capitel Operations:
$ 26,565,100 1 3,972,600 126,148,800 $ 78, 400 $ 56,764,900 t 51,145,500 het i ncome . . . . . . . . . . . . . . . . . . . .
Itese not Requiring (Pr9viding) Working Capitel: Deprocletion. .. ...... ......... 12,269,000 1,620,000 - - 13,889,800 13,166,200 l 197,200 - - - 197,200 169,000 Amort i z at i on. . . . . . . . . . . . . . . . . . A r.tlo. . . . . . . . . . . . . . . . . . . . i.ud,000 - - - i,ud,8x 1,i i 8,0. 83,900 1 Cleles Peyeble - Non-current. . . . . . . . . . Accrued Leave . . . . . . . . , . . . . . . . . 404.900 69.500 - - 474.400 149.500 40,661,000 5,662,900 26,148,800 78,400 72,551,100 65,832,100 i Working Capital Provided by operations. . . . . 12,350,000 - - 12,350,000 - Proceeds Frem the Sale of Bonds . . . . . . . . . . -
.- 16,178,000 Incrosse in Loan. . . . . . . . . . . . . . . . . .
1,740,700 - - - 1,740,700 500,000 Increese in Advance Frae Ottier Funds. . . . . . . . incrosse in Custoesr Contracts Poyable. . . . . . . 174,200 -- - - 174,200 - Decreese In Long-tere Portion of Notes Rooelveale . - - 223,900 - 223,900 2,000 i 25,000 - - 25,800 - increase I n Accrued Leeve . . . . . . . . . . . . . - 3,180,900 790,500 - - 3,971,400 10,276,500 Increase in Contributions . . . . . . . . . . . . .
= - 1,009,900 -
Decrease in Restrleted Assets . . . . . . . . . . . -- = - 25,200 70,600 95,800 272,700 R2tirement of Plant In Service. . . . . . . . . . . - - increase in Customer Advances . . . . . . . . . . . - - - - - 15,400 incrosse in Def erred Revenue. . . . . . . . . . . . 315,000 -- - -- 315,800 .- increase in Payeble from Restricted Assets. . . . . 1.191.000 - - - 1.191.800 314.600 - 6.549.800 26. 377.700 19. 400 92.640.900 94.434,200 Totel Sources of Work ing Cecital. . . . . . . . . 59.6 R 600 uses of Working Capital ' Acquisttlon of Flued Assets . . . . . . . . . . . . 28,875,700 3,246,400 - - 2.122,100 28,871,800 increase in Res teleted Assets . . . . . . . . . . . 14,137,200 4,522,63) ~ = 18,659,800 26,663,20 1 Decrease la Contributions . . . . . . . . . . . . . - - - - - 259, 300 Decrease in Custoser Advances . . . . . . . . . . . 50,500 - - - 50,500 4,000 Decrease in Deferred Revenues . . . . . . . . . . . 10,000 - - - 10,000 700 Decrease in Bonds Poyable . . . . . . . . . . . . . 6,755,000' - - - 6,755,000 5,20,000 Increase in Bond Olscount . . . . . . . . . . . . . 214,100 - - - 214,100 - Incesese in Bond issue Cost . . . . . . . . . . . . 421,300 1 -- - = 421,3)0 400 increase in Loen issue Cost . . . . . . . . .... - - - - - 175,400 Decrease i n I.oen Peyee le. . . . . . . . . . . . . . 76,900 - - - 76,900 -- R4 duction In Cleles Payaole . . . . . . . . . . . . - 83,900 - - 83,900 - Riduction of Loan from Municipal Retirement Fund. . 186,000 - = = 186,000 37,900 Decrease in Customer Contreets Payable. . . . . . . -- - - - = 74.700 Deeresse in Peyeole from Restric+ed Asse+s. . . . . 326.100 - - - 326.100 109.600 Tot e l uses of work i ng Cap i tal . . . . . . . . . . 51.052.800 7.652.900 - - 96.909.700 61.497.100 Not increase (Decrease) In working Capitel. . . . 1 9.946.600 f(1. T 3.1001 g g M Elements of het increase in working Capiteit Cash. ....................... S 56,400 $ (800) 1 - $ - S 55,600 5 (1 30, 300) Equity in Pooled Cash . ..... ......... 10,323,200 (922,600) 9,699,800 78,400 19,178,800 13,711,400 Accrued interest Receivable . . . . . . . . . . . . - -- (2,700) = (2,700) (10,800) investments - At Cost . .. ............ - - 15,318,500 - 15,318,500 23,32,800 Accounts Receiveele . . . . . . . . . . . . . . . . 2,029, 300 (43,700) (1 3,200) - 1,972,400 845,200' inventory . .................... 1 3,600 96,200 - - 109,800 145,700 Due from Other F unds. . . . . . . . . . . . . . . . - - 1,370, 300 - 1, 370, 300 (33,900) Accounts Payeble. . . . . . . . . . . . . . . . . . (2,691,700) (7,900) - - (2,699,600) (2,9 37,900) Clelms Peyeble - Current. ............. - (424,300) - - (424,300) (1,078,900) Cus+omme Contracts Poyse le. . . . . . . . . . . . . (126,000) - - - (12t ,000) (1,2003 Customer Adva nces . . . . . . . . . . . . . . . . . (3,900) - - - (3,900) 2,600 ut i li ty Decosit s Peyee le. . . . . . . . . . . . . . (1,050,000) - - - (1,050,000) (932,6001 Loen fece Municipal Retironent Fund . ....... F.o00 - - - T.000 0.000) Not increase (Decrease) In working Capital. . . . 1 8.986,800 tit. r 3,100) 126,372.700 _1 33.734.900 g 9-12 The ming notes are en Intopol part of titsee financial stetements. w__-__________________-_______-____-____________-__________-_______. _ - _ _ _ _ _ _ _ _ _
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)
NOTES TO FINANCIAL STATEMENTS l l l l 1 J
CITY OF TALLAHASSEE. FLORIDA NOTES TO FINANCIAL STATEMENTS Septeatw* 30, 1988 NOTE l - Sup04ARY OF SIGNIFICANT ACCOUPfTlHG POLICIES The financial statements of the City have been prepared in accordance with genera l ly accepted accounting principles (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) !$ the standard-setting body for governments l accounting and financial reporting. On June 15, 1997, the GASB Issued a codification of the then existing Governmental Accounting and Flnenclal Reporting Standards which, along with subsequent GASB pronouncements (Standards and Interpretations), constitutes GAAP for governmental units. This summer y of Tallahassee's significant accounting policles is presented to assist the reader in Interpreting the financial statements and other data in this report. These pollcles are considered essential and should be read in conjunction with the accompanying financial statenents. A. REPORTING ENTITY - The City of Tallahassee Is a political subdivision of the State of Florida, located in Leon County in the north central portion of the State. Tallahassee, the capital city of Florida, Is the county seat and the only incorporated municipality In Leon County. The City was Incorporated in 1825 and has operated since 1919 under the same charter. The City Is approximately 56 square m!!es in area. The City is a full serv!ce ef ty, providing its citizens with a full complement of municipal ser vice s. In addition, the Ci ty owns and operates six utfiltles including: an electric generation, a transmission and distribution system; a natural gas distribution system; a water pro duction and distribution system; a sewage collection and treatment system; and a municipal airport and a bus system. This report includes financial statements of the f unds and account groups required to account for those financial activltles which are related to the City and are controlled by or dependont upon the City's legl slat i ve body, the City Commission. Control or dependence upon the City was determined on the basis of budget adoption, taxing authority, outstanding debt collateral! zed by re venues of general obilgations of the City, or the City's legal responsibility to fund any deficits that may occur. On this bes ts, the following entitles are not part of the C!ty of Tallahassee and thus, are excluded from the accompanying financial statements: Tallahassee Housing Authority - This authority was created by the City pursuant to State Statutes with commissioners of the Authority appointed by the City Commission. Operations are administered by the Authorlty and financed with Federal funds and rentals. Outstanding debt of the Authorify is not an obligation of the City. Sunshine State Governmental Financing Commission - Although the Cities of Orlando and Tallahassee, Florida entered into an Interlocal agreement to create the Comm!ssion and undertook certain Initial ri sk s to ensure Its ability to se l l bonds, the CommI9slon Is a jolnt venture between the members of the governmental units (See Note Y.8). Crystal River Unit 3 - As Indicated In Note V. A, the City of Tallahassee has an ownership Interest in the Crystal R i ver Unit 3 nuclear power plant operated by Floc!da Power Corporation. The City's Interest does not meet the criteria for inclusion as part of the reporting entity since the operation of the plant is not controlled by the City. D. BASIS OF PRESENTATION - The accounting records of the City are organtzed on the basis of ! f unds and account groups. For reporting purposes, the verlous f unds of the City are classifled in to three basic fund types: governmental funds, proprietary funds, and fiduciary funds. In a:dition to the various fund type s, a f our th category of accounting entitles is the accoun t G"ou ps. B-13
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCI AL STATENENTS September 30, 1988 NOTE I - (Continued) Amounts in the " Totals (Memorandum Only)" columns in the combined financial statements represent a summation of the combined financial statement line items of the f und types and account groups and are presented only to f acilltate financial ana ly s t. Data In these columns do not present financial position, results of operations, or changes in f Inancial position In con formity with generally accepted accounting principles. Neither 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 financial statements for the year ended September 30, 1987 have been reclassif ted for comparative purposes In the accompanying financial statements. The following fund types and account groups are used by the City: GOVERfeENTAL FUWS The focus of Governments l Fund measurement is upon determination of financial position and changes in financial position (sources, uses and balances of financial resources) rather than upon determination of net Income. The following Is a description of the Governmental Funds of the City: GENERAL FUW - The General Fund is the general operating fund of the City. It Is used to account for all financial resources except those required to be accounted for In another f und. SPECI AL REVENUE FUWS - Special Revenue Funds are used to account for the proceeds of spectffc revenue sources (other than expendable trusts, or ma jor capital project s) that are legally restricted to expenditures for speelf fed purposes. DEDT SERVICE FUNDS - Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long-term debt principal, Interest, and related costs. CAPITAL PROJECTS FUmS - Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital f acilItles (other than those flnenced by Proprietary Funds and Trust Funds). PROPRIETARY FUm S The focu s of Proprietary Fund me a surement is upon determination of net Income, financial position, and changes in ffnencial position. The generally accepted accounting principles utilf red for these funds are those similar to businesses In the pelvate sector. The followthJ ls a description of the Propeletary Funds of the City: ENTEIFRISE FUNDS - Enterprise Funds are used to account for operations (a) that are financed and operated in a matter slmfler to pelvate business enterpelses where the Intent of the governing body Is that the costs (expenses, including depreciation) of providing goods or servlces to the general public on a continuing bests be flnenced or recovered primarily through user charges; or (b) where the governing body has decided that perlodic determination of revenues earned, expenses incurred, and/or net income Is a ppropr ia te for capital maintenance, public policy, man agemen t control, accountability, or other purposes. INTERNAL SERVICE FUES - Internal Service Funds are used to account for the financing of goods or services provided by one department or agency to other departments or agencies of the City, or to other governments, on a cost-reimbursement basis. B-14
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30, 1988 HOTE I - (Continued) FIDUCIARY FUNDS TRUST AND AGDICY FUM)$ - Trust and Agency Funds are used to account for assets held by fhe City In a trustee capacity or as an agent for Individuals, private organizations, other governments, and/or other f unds. These include Expendable Trust, Nonexpendable Trust and Pension Trust Funds. Pension Trust Funds and Nonexpendable Trust Fun ds are accounted for In essent! ally the same manner as Proprietary Funds since capital maintenance Is critical. Expendable Trust Funds are accounted for in essentially the same manner as Governmental Funds. Agency Funds are custodf el in nature (assets equal liabilities) and e not involve measurement of results of operations. ACCOUNT GROM S r. Account Groups are used to establish control and accountability over the City's general fixed assets, and the unmatured principal of its general long-term debt, which Is not associated with, or the obligation of, the proprietary or trust funds. Accordingly, the City maintelns a GENERAL FIXED ASSET ACCOUNT GROUP and a GENERAL LONG-TERM DEST ACCOUNT GROUP. C. BASIS OF ACCOUNTING - Basis of accounting refers to when revenues or expenses are recognized in the accounts and reported in the financlal statements. Basis of accounting relates to the timing of the measurements made, regardless of the masurement focus applied. All Gover nmen ta l F un ds, Expendable Trust Funds, and Agen cy Funds are accounted for using the modi fled accruel basis of accounting. Their revenues are recognized when they become measurable and available as net current assets. The following revenues are considered to be susceptible to accruals rent revenues, cig arette tax revenue, telephone tax revenue, mobile home !! censes, Federal and sta te r even ue sharing, and speciel assessments. Interest earned on special assessment levies and Interest expense on of fsetting long-term debt are not accrued unless fully matured and unpa id. Property taxes are accounted for when measurable and available as prescr! bed in NCGA Interpretation #3. Expenditures are generally recognized under the mdt fled accrual bests of accounting when the re la ted fund liabi l i ty is In curred. Principal and Interest on general long-term debt are recogn ized when due. All Proprietary Funds, Nonexpendable Trust Funds, and Pension Trust Funds are accounted for using the accrual basis of accounting. Ut i li ty revenues are recorded as earned. Fuel ad jus tmen t revenues are recognized based on the actual f uel costs. Amounts charged based on estimated costs are adjusted seml-annually for any dif ferences between the actual and estimated cost once actual costs are known. D. DUDGETARY DATA
- 1. DUDGET POLICY - Budgets are lega l ly adop ted for the General and Enterprise Funds and are controlled on a f und and departmental level. The City Manager is author! zed to transfer budget amounts within departmen ts; however, any revision that alters the total expenditures of any department or fund must be a pproved by the City Commission. In Instances where budge t appropriations and estimated revenues have been revised during the year, budget da ta presented in l the financial statements represent final authorized amounts. Unencumbered appropelations are l lapsed at year end.
B-15
CITY OF TALLAHASSEE FLORIDA3 NOTES TO FINANCIAL STATENENTS Sep w 30, i m i NOTE I - (Cont!nued) {
- 2. ENCUMBRANCES - Encumbrance accounting, un der which purchase orders, contracts, and other -]
commitments for the expenditures of montes are recorded to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary Integration ' In the General Fund and Capital Projects Funds. Encumbrances outstanding at year end are reported as reservations of j fund balance since they do not constitute expenditures or liabilities. i
)
i E. ASSETS, LIABILITIES A W FUND EQUITY l
- 1. INVESTE NTS - Investments, except for those included In the Deferred Compensation Fund, are I stated at amortized cost. Inves tnents in the Deferred Compensation Fund are stated at market /
value. 1
- 2. INVENTORY - Fuel Inventory In the Electric, Airport, and. Tallahassee Transit Funds are stated j
^
at the lower of cost or market based upon a moving everage cost. Fuel Inventory In the Gas Fund Is stated at lower of cost or market utfilzing the first-In, first-out (FIFO) method. Material Inventory in the Tallahassee Transit Fund, consisting of maintenance parts and tires, and inventor!es In the internal Service Funds, consisting of general of fice supplies, maintenance ] parts, tires, and f uel held for consumption, are stated at weighed everage cost. Material { i nventory in the General Fund, consisting of maintenance and repair parts, and Inventories In the Golf Course Fund, consisting of resale items, are stated at lower of cost or market uf f ilzing the first-In, first-out (FIFO) method. Appropriate allowances have been recorded for obsolete Items. Perpetual Inventory records are maintained for all significant Inventories. l 3. ADVANCE TO OTHER FUWS - Noncurrent portions of long-term Interf und loans receivable (reported in " Advance to" asset accounts) are equally offset by a f und balance reser ve account which indicates that they do not constitute "available spendable resources" since they are not a J component of net current assets. Current portions of long-term Interf und receivables (reported in "Due from" asset accounts) are considered "available spendable resources."
- 4. FlXED ASSETS - Fixed assets used in governmental f und type operations (general fixed assets) are accounted for In the General Fixed Assets Account Group, rather than In governmental funds.
Public domain general fixed assets consisting of certain Improvements other than buildings, including roads, bridges, curbs and gutters, sttsets and s idewa lk s, dralnage systems, and llghting systems, are not capitalized. No depreciation has been provided on general f ixed assets. All fixed assets are valued at historical cost or estimated cost If actual cost is not available. Donated f ixed assets are valued at their estimated f afr value on the date donated. Depreciation of all exhaustible fixed assets used by proprietary funds is charged as an expense against their operations. Accumulated depreciation is reported on Propr ietary Fund balance sheets. Deprecletion has been provided over the estimated useful lives using the straight line metho d, with no deprecletion recorded In the year of addition and full year's depreciation recorded in the year of re tirement. Depreciation 15 charged to contributed capital for those assets constructed or purchased with f unds received from Grants, Entitlement or Shared Revenues. The estimated useful lives are as follows: Bu!! dings . . . . . . . . . . . . . . 10 to 40 Years improvements other than Bulldings . . 10 to 40 Years Machinery and Equipment . . . . . . . 10 to 65 Years Vehicles. . . . . . . . . . . . . . . 5 to 15 Years l l l D-16 1 l
CITY OF TALLAHASSEE FLORIDA 3 NOTES TO FINANCI AL STATD85NTS September 30,19( NOTE I - (Continued) The C!ty of Tallahassee follow s the Federal Energy Regulatory Commission's :niform System of l Accounting; therefore, retirements of Ut i li ty Funds' plant In servios are accounted for in f accordance with Federal Energy Regulatory Commission regulations, whereby, when an asset is ! retired, the cost of the asset is charged to accumulated depreciation. i Net interest cos ts Incurred during long-term construction projects are capitalized.
- 5. 00M) DIS (X)UNTS Me ISSUANCE COSTS - Bond discounts and issuance costs are deferred and amortized over the term of the bonds using the ef fective interest method. Bond discounts are prasented on the financia! statements as such and issuance costs are presented as other assets.
- 6. 1.0AN ISSUANCE CDSTS - Loan Issuance costs are deferred and amortized over the term of the loan.
F. REVENUES, EXPENDITURES AND EXPENSES
- 1. PROPERTY TAXES - Under Florlda law, the assessment of all properties and the collection of all county, municipal and school board property taxes are consolidated In the of fices of the County Property Appraiser and County Tax Collector. The law s of the State regulating tax q assessmeat are also designed to assure a consistent property valuation method statewide. State j statutes permit municipalltles to levy property taxes at a rate of up to 10 mills. The millage q rate assessed by the Clty for the fiscal year ended September 30,1988 was 2.900.
All property is assessed according to its fair market value on January I of each year. Each assessment roll is submitted to the Executive Director of the State Department of Retenue for review to chtermine If the rolls moet all of the appropriate requirements of State Statutes. The current year taxes for the fiscal year, beginning October 1, are billed in the nonth of November and are due no la ter than March 31. On Apr il 1, all unpaid amounts become dellnquent and are subject to Interest and pena ttles. Olscounts are allowed for early payment at the rato of 4% in the month of November, 3% In the month of December, 2% in the nonth of January and 1% In the month of February. The taxes pold In March are without discount. Delinquent taxes on real property bear Interest of 18% per year. On or prior to June 1 following the tax year, certificates are sold for all delinquent taxes on real property. Af ter sa le, tax certificates bear Interest of 18% per year or at any lower rate bid by the buyer. Application for a tax deed on any unredeemed tax certificates may be made by the certificate holder af ter a period of two years. Dellnquent taxes on personal property bear Interest of 18% per year until the tax Is satisfled either by seizure and sale of the property or by the five year statute of (1mitatlons. Since the Leon County Tax Collector's Of fice sets quickly In selling tax certificates and in I remitting such collections to the City, no delinquent nor uncollected property taxes exist at year end. The City Tax Calendar is as follows: j Valuation Date: January 1 Levy Date : November 1 Due Date : March 31, Succeeding Year Lien Date : April 1, Succeeding Year , P 8-17
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30, 1988 NOTE I - (Continued)
- 2. AMORTIZATION OF NUCLEAR FUO. - The costs of nuclear fuel, including estimated disposal cost, are charged to operating expenses. These costs are charged to customers through increased rates or through. the fuel adjustment clause.
- 3. COWENSATFD ABSENCES - All full-time employees earn vacation and sick leave starting with the first day of employment; all part-time employees earn vacation and sick leave in proportion to the number of hours in their normal work day.
Vacation leave Is earned based on years of continuous and creditable service as follows: : Years of Service Total Days Per Year Up to 5 12 5 to 10 15 10 to 20 18 Over 20 21 a maxtuum of 30 days vacation leave time may be carried over from one fiscal year to the next. An employee who terminates employment with the City fs paid for any unused vaca tion leave accumulated to the time of termination. Sick leave is earned at the rate of eight hours for each month of service with no maximum limit on he number of hours which may be accumulated. An employee who terminates from the City for any reason other than retirement (as def f ned by the provlslons of the appropriate City Pension l Plan) or death, does not receive payment for unused sick leave. If the employee retires or dles, l l the employee (or his beneficiary or estate) is paid one quarter of the total amount of sick leave accumulated by him or her on the ef fective date of his or her retirement or death. Accumulated unpaid vacation and sick pay amounts are accrued when vested In Proprietary Funds. - The Governmental Funds accumulated liabilities are recorded in the General Long-term Debt Account Grnup. 4 INTERG0VEIO# ENTAL CHARGES - Certain functions of the City of a general and administrative nature are centralized and the related costs are allocated to the various funds of the Clty. Such costs allocated to the Enterprise Fun ds for the year ended September 30, 1988 are as follows: Electric. . . . . . . . . . . . $3,6 35,600 Gas . . . . . . . . . . . . . . $ 478,300 Sewer . . . . . . . . . . . . . $ 1,115,500 Water . . . . . . . . . . ... $ 1,12 3,800 Airport . . . . . . . . . . . . $ 192,100 Taltran . . . . . . . . . ... $ 183,700 So l i d W a s te . . . . . . . . . . $ 309,100 Golf Course . . . . , . . . . . $ 56,600 0-18 !
CITY OF TALLAHASSEE FLORIDA NOTES TO FINANCI AL STATDENTS September 30, 1968 NOTE I - (Continued)
- 5. RE(XMCILI ATION OF BUDGETARY BASIS TO GAAP BASIS - The following schedu le reconciles the
" Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses - Budgetary Basis" to the " Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses - GAAP Bast s" for the General Fund for the year ended September 30, 1988: Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses - Budgetary Basis . . . . . . . $ (47,200) Ad justments: Increase In Reserve for Encumbrances . . . . 1,342,800 Advance to Aleport Fund. . . . . . . .... 743,800 Excess of Revenues and Other Sources Over (Under) Expenditures and Other U ses - GAAP Ba s i s. . . . . . . . . . 12,039,400 NOTE 11 - STEWARDSHIP, C00PLI ANCE, AW ACCOUNTABILITY A. CODFLI ANT WITH FINANT-RELATED LEGAL AND Q)NTRACTUAL PROVISIONS The City has no material violations of finance-related legal and contractual provisions. B. D EICIT FUW EQUITY OF I W lVIDUAL FUNDS There are no Individual f unds with a deficit f und equity balance. C. EXCESS OF EXPENDITURES OVER APPROPRIATIONS IN INDIVIDUAL FUNDS No Individual f und contained an excess of expenditures over appropriations. D. ESTAfLISMT OF NEW FUNDS
- 1. Solid Waste Fund - Until September 30, 1987, Solid Weste operations were a part of the General Fund. Because It Is the Intent of management that solid weste operating costs be recovered pr imarily through user charges, it was converted to an enterpelse fund in fiscal year 1988
- 2. Golf Course Fund - Until September 30, 1987, operations of the golf courses were a part of the General Fund. Because it Is the Intent of management that golf course operating costs be recovered primarily through user charges, it was converted to en enterprise fund in fiscal year 1988.
- 3. Communication Fund - Until September 30, 1987, the communication program was a part of the General Fund. Since It is the Intent of man agemen t that the services provided by the ;
communication program to other departments be accounted for on a cost-reimbursement basis, the Communication Division was reorganized as an Internal Service Fund In fiscal year 1988. B-19
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CITY OFTALLAHASSEE0 FLORIDA :l I CDTES TO FINANCI AL STATEMENTS Septed er 30, 1988 NOTE 11 - (Continued) E. PRIOR PER100 ADJUSTENT - GARAGE FUM AM) RISK MANAGEENT FUM During 1988, as a part of the analysis of Contributed Capital, it was discovered that Contributed Capital as previously reported fer the Garage Fund and Risk Management Fund had been Incorrect. All amounts disclosed in this report have been restated as if the correction had been made as of 1 September 30, 1987. Contributed Capital for the Garage Fund as of September 30, 1987, was ) or tgtnally reported as $1,440,100; the ef fect of the correction was to restate the amount to l 12,776,900. Contributed Capital for the Risk Management Fund as of September 30, 1987, was originally reported as a residual equity transfer, thus becoming a part of retained earnings; the i ef f ect of the correction was to reclassif y retained earnl9gs to Contributed Capital to the amount of $893,500 NOTE Ill - DETAll NOTES - ALL FUOS Am ACCOUNT GROUPS A. ASSETS
- 1. EQUITY IN POOLED CASH, DEPOSITS Am INVESTENTS The City of Tallahassee maintains a cash and Investment pool that Is available for use by all funds. Each fund's portion of this pool is displayed as "Eq uity In Pooled Cash." Interest ,
earned by this pool is distributed to each fund enthly based on weekly balances. In addition, - Investments are separately held by several of the City's funds. Deposits - At year end, the carrying amount of the City's deposits was $(2,601,900) and the bank l ba lance was $5,106,700. The deficit deposits are due to the City's banking service agreement ! whIch calls for the bank, on a dally basis, to invest all montes In the City's demand accounts in an overnight repurchase agreement at the federal fund rate. The repurchase agreements balance at September 30, 1988 Is $9,844,000 The bank balance was covered by federal depository Insurance a n d, for the amount le excess of such federal depository insurance, by the State of Florida's Public Deposit Act. Prowlstons of the Act regulre that pubile deposits may only be ma de a t quell fled public depositories. The Act requires each quellfled public depository to deposit wl+h ) the State Treasurer ellglble collateral equal to or in excess of the required collateral as determined by the provlslons of the Act. In the event of a f ailure by a quellf fed public { depository, losse s, in excess of federal depository Insurance and proceeds from the sale of the j securities pledged by the def aulting depository, are assessed agalnst the other quellfled public depositories of the som type as the depository In default. When other quallffed public depositories are assessed additional amounts, they are assessed on a pro-rata bests. Investments - The City's Investment guidelines, as defined by the City Charter and its weltten ' inve stment policles, are approved by the City Commission. The policles established three Investment pools: 1) The General Operating Pool, which covers all monies of the City no t otherwIse classified and is included in the above-referenced cash and Investment pool; 2) the Sinking Fund Pool, which covers all montes set asIde for the payment of principal and Interest on the City's notes, bonds, or other obilgations of Indebtedness; and 3) the Pension Fund Pool which covers all mnles of the City's pension funds. Accordi ng to the City Charter, the. City Treasurer-Clerk is designated to Invest all entes belonging to the City pursuant to the policles approved by the City Commission, except those monies in the Sinking Fund and Pension Fund Pools. Montes In the Sinking Fund and Pension Fund Pools are Invested under' the auspices of the City Charter-created Sinking Fund Commission, which consists of the five City Commissioners and three appeinted members. Ur. der the pollcles approved by the City Commission and the Sinking Fund Commission, the day-to-day Investment of all montes Is managed by the City Treasurer-Clerk. D-20 4
CITY OF TALLAHASSEE, FLORlDA NOTES TO FINANCI AL STATDefTS September 30, 1988 NOTE lli - (Continued) The Pension Fund Pool may be Invested in the General Operating Pool and/or any nationally. recognized Investment company approved by the Sinking Fund Commission. The following table Indicates the authorized Investment instruments .for the General Operating and Sinking Fund Pools: General Sinking Operating Fun d , Repur chase Agreements . . . . . . . . . . . . , X X Reverse Repurchase Agreements . . . . . . . . . X X Certificates of Deposit . . . . . . . . . . . . X X Bankers' Acceptances. . . . . . . . . . . . . . X X Commercial Paper Rated A-1 by Standard & Poor's or P-1 by Moody's. . . . . . . . . . . . . . . X X U. S. Treasury Bil ls, Bonds or Notes. . . . . . X X U. S. Government Agencles . . . . . . . . . . . X X Mortgage-backed Government Obligations. . . . . X Corporate Ff xed income Securf tles rated at least A by Standard & Poor's or Moody's. . . . X Florida State Board of Administration Local Governments Surplus Funds investment Pool. . . X X i in addition to author iz ing Investment Instruments, the City's policles also Identify various portfolfo parameters addressing issuer diverstftcation, term to maturity and I f qu i di ty, and ! requires " purchase versus delivery" perfection for secur f tles held by a third party on behalf of and In the name of the City. The Cf ty s Investments for all pools are summarlzed and categorized under GAS 8 3 guidelines as e follows to w!ve an Indication of the level of risk assumed by the City at September 30, 1988: Category Carrying Market 1 2 3 Amount Value Repurchase Agreements. . $ - $9,844,000 $ - 5 9,844,000 $ 9,844,000 U. S. Government Securttles. . . . . . . 8",0M,300 - - 85,038,300 84,160,300 i Mortgage-backed l Obligations . . . . . . 878,200 - - 878,200 862,700 ) U. S. Government Agencies 19,377,300 - - 19,377,300 19,367,200 Bankers' Acceptances . . - - - - - l Commercial Paper . . . . 20,974,900 - - 20,974,900 20,973,700-Corporate Flxed Income l Se cur i t ies. . . . . . . 33,677.900 - - 33,677,900 33.401,800 l
$159,946,600 $9,844,000 $ - 169,790,600 168,609,700 investment in Florida State Board of Administration Local Governments Surplus Funds Investment Pool . . . . . . . . . 97,953,800 97,953,800 I n ve s tme n t I n mu t u a l f un ds . . . . . . . . . . . . . . . . . . . . 76,865,300 72,633,600 investment In guaranteed Investment contract . . . . . . . . . . . 59,058,700 59,058,700 Accr ue d i n ter es t . . . . . . . . . . . . . . . . . . . . . . . . . 2,283,600 2,283,600 Tot a l i n ve s tme nt s . . . . . . . . . . . . . . . . . . . . . . . . $405,952,000 $ 400,5 39,400 l
- i B-21 ;
t 4
CITY OF TALLAHASSEE FLORIDA NOTES TO FINANCI AL STATEENTS September 30. 1988 NOTE lli - (Continued) Category 1 Includes Investments that are Insured or registered or for which the securities are held by the City or Its agent in the City's name. Category 2 Includes uninsured and unregistered investments for which the securf tles are held by the broker's or dealer's trust department or agont In the City's name. Category 3 Includes uninsured and unregistered Investments *or which the secur f tles are held by the broker or dealer, or by its trust department or agent but not in the name of its City. I
- 2. FIXfD ASSETS During the f i sca l year ended September 30, 1988, the following changes in general fixed assets occurred:
Balance Delance October 1, September 30, 1987 Additions Deletions 1988 Land. . . . . . . . . . . . . $ 6,920,000 $1,499,300 $ 144,200 $ 8,275,100 Dulldings . . . . . . . . . . 20,247,100 113,900 687,700 19,673,300 Improvements Other Then Buildings. ......... 4,894,400 - 945,600 3,948,800 Equipment . ......... 11,937,700 941,700 2,653,600 10,225,800 Construction In Progress. . . 10,789,700 3,564,200 2,427,100 11,926,800
$54,788,900 $6,119,100 $6,858,200 $54,049,800 General fixed assets construction in progress is composed of the following:
Expended to Required Project September 30, Future Authorized 1988 Comm tied Fun di ng Municipal Garage Expanslon. . $ 2,826,700 $ 604,400 $ 2,222,300 None Downtown Mixed Use Project. . 4,580,000 3,856,900 723,100 None Parks & Recreation Facilltles 1,859,000 325,800 1,533,200 None Fire Stations . . . . . . . . 1,549,400 887,400 662,000 None Economic Development. . . . . 6,736,200 2,330,800 4,405,400 None Miscellaneous Projects. . . . 5,065,500 3,921,500 1,144,000 None
$22,616,800 $ 1 1,92 6,80_0_ $10,690,000 A summary of proprietary fund type fixed assets at September 30, 1988 follows:
Enterprise Internal Service Land. . . . ................ 5 8,027,100 $ 44,400 Structures and improvements . . . . . . . . 45,270,500 650,700 Equipment . ................ 334,946,400 2,797,900 l Vehicles. . . . . . . . . . . . . . . . . . 8,320,500 15,451,500 l Construction In Progress. . . . . . . . . . 64,226,900 -- Total. . . . . . . . . . . . . . . . . . 460,791,400 18,944,500 Less: Accumulated Depreciation . . . . . . 146,932,700 8,690,600 Net. . . ................ $313,8 58,7 00 $ 10,2 53,900 l i 0-22 l t
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CITY OF TALLAHASSEE, FL.ORIDA NOTES TO FINANCI AL STATEMNTS September 30, 1968 NOTE 111 - (Continued) a l LIABILITIES B.
- 1. PENSION PLAN OBLIGATIONS ,
The City's pension plan is estabilshed by Chapter 17 of the City Code of Ordinances. Under the plan the Ci ty provides a single employer defined benefit provlsion covering general employees ' (Article ll), pollce officers (Article ill) and firef ighters (Article IV), and a defined contribution provision (Article V - Matched Annalty) covering all City employees' pension. The City also ma intains a police officers' and firefighters' share plans (ArtlCle Y! Jnd Vil), estabillshed by Florlda Statutes, Chapter 175 and 185. The provlslons. of the pension plans are "qua l l f led" un der the Internal Revenue Service Code, which make s employee contributions tax deferred.
- a. Def fned Benefit Prowlsion - is established In Parts A, B, and C in each of the articles 11, li t, and IV. Parts A and B are closed to f urther participation while part C provides coverage to all general employees hired on or after January 27, 1988. All members of the pension plan are covered by one of these parts depending upon employment date. These parts provide a detall description of the verlous defined benefit provisions. These provisions include the . types of l employees covered, benef f t provisions, employee ei tglbility requirements for normal, early and/or vested retirements, and the related benefits for each of these retirements, pre-retirement death benefits, and provlsions for disabili ty retirements. These are a lso provisions. for normal retirement benefit and post retirement cost-of-living adjustment (COLA).
- b. Defined Contribution Prowlslon - Requires employees to contribute 2% of compensation.-
Employees may elect to contribute up to an additional amount of 5% for a total contribution not to exceed 7% of their compensation.' Employees may chan ge the amounts of thelf additiona l contribution but may do so no more than two times in any one fiscal year. Upon reaching normal retirement age or retiring under the plan, a participant shall be pald hfs contributions, together with accrued earnings. If the participant uses the contelbutions and accrued earnings to purchase an annuity contract, the plan will increase the amount of f unds so used by the partic! pant by a , factor of 50 percent. Employee contributions plus accrued earnings thereon are 1005 refundable If the employee elects to terminate his vesting rights or is not vested at the date of employment -
'f !
termination, l
- c. Police Of ficers' and FIreflghters' Shere Plan - The City established a Police Of fleers' and Fireflghters' Share Plans on December 16, 1987 The Plans were established to provide additional benef f ts for the police of ficers and fireflghters who are in the regular and permanent employment ?
of the City. The City Is required to establish an Individual share plan account for each participant . The City is not obligated to provide any funding for the plan beyond the amount received from the State under Florida Statuten, Chapter 175 and 185, i
- d. Fanding Status and Progress - The amount shown below as the " pension benefit obilgation" is a standardized disclosure measure of the present value of penston benefits, adjusted for the ef fects ,
of projected salary increase and step-rate benefits, estimated to be payable In the future as a l result of employee service to date. The measure is intended to help users assess the f unding j status of the plan on a gof ng-concern basis, assess progress made in accumulating suf ficient ; assets to pay benefits when due, and make comparisons among employers.. The . measure is the. actuarial present value of credited projected benefits and Is Independent of the funding method , l' used to determine contributions to the System. B-24
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCI AL STATEENTS September 30, 1968 NOTE IfI - (Continued) The pension benefit obilgation was computed as part of an actuarial valuation performed as of September 30, 1987 Significant actuarlal assumptions used in the va l uation include (a) an Interest rate of 7% per annum compounded annually, (b) projected salery increases of 7% per annum i compounded annually, (c) a moderation of future inflation and, (d) no post retirenent benefit f increases other than cost-of-living adjustments. l The total assets In excess of pensfon benefit obilgation as of September 30, 1987, the most recent actuarlal report date, were as follows: ] Pension Benefit Obligation I 1 o Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving benefits $ 36,883,709 l o Current employees l Accumulated employee contributions 25,516,582 j Employer-ffnenced vested 16,692,382 Empiever-f Inanced nonvested 46,261,215 Total Pension Benef f t Obilgation 125,353,888 o Net assets ava flable for benefits 128,785,900 (Market value: $142,604,720) o Assots in excess of Pension Benefit Obilgation 5 3,432,012
- e. Actuarlally Determined Contribution Requirements and Contribution Mode - The Plan's !
f unding polley provides for actuartally determined periodic contributions at rates that, for Individual employees, increase gradually over time so that suf ficient assets will be available to pay benefits when due. The contribution rate for normal cost is determined using the entry age actuarial cost method. The Plan uses the level percentage of payroll method to amortize the unfunded liabfllty over e 28 year period for general employees and a 9 year perfod for police of ficers and firefighters. The significant actuartal assumptions used to compute the actuarially determined contribution requirement are the same as those l used to compute the pension benef f t obligat!on as described above. Contributions in excess i of the required $9,373,300 ( $ 6,346,200 employer and $3,027,100 employee) were ma de in accordance with actuaria l ly de termined con tribution requirements determined through an actuarlal valuation performed at September 30, 1987. B-25
CITY OFTALLAHASSEE0 FLORIDA NOTES TO FINANCI AL STATDENTS September 30, 1968 NOTE Ill - (Continued) The employer pension cost as a percentage of payroll for each Article is as follows: Article Article Article 11 - General lli - Police IV - Fire Normal Cost . . . . . . . . . . . . 11.245 13.04% 14.565 Unfunded Llability Amortization . . 0.59 0.00 4.16 Term L!fe Cost. . . . ... . . . . . 0.96 0.71 0.97 Expenses. . . . . . . . . . . . . . 0.50 .50 .50 Sub-total 13.29 14.25 20.19 Article V - MAP . . . . . . . . . . 1.21 2.26 2.01 Total 14.50% 16.515 22.205
- f. Trend inforestion - Trend Information gives an Indication of the progress made in accumulating suf fIclent assets to pay benefits when due.
The following first year of . the ten year historical trend Information, prepared in accordance with Governmental Accounting Standards Board Statement No. 5, provides InformatIon on progress made in accumulating suf ficient assets to pay benefits when due. The purpose of.. the. chart is to establish a consistent method for analyzing and making comperlsons among dIf ferent public retirement systems. Required Supplementary Information Analysts of Funding Progress (In 5 million) ! l Assets in Assets In Net Excess of Excess of Assets Pension PB0 as 5 Fiscal Available Pension Percentage Benefit Annual of Covered Year for Benefit Funded Obflgation Covered Payroll Ended Benefits Obilgation (1) / (2) (1) / (2) Payroll (4) / (5) 9/30/87 $ 128.8 $ 125.4 103% $ 3.5 $ 44.3 85 k B-26
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANC6AL STATEMENTS September 30, 1988 NOTE lll - (Continued)
- 2. OTHER DFLOYEE DENEFITS - The Ci ty of Tallahassee offers Its employees a de f erred compensation plan creatand in accordance with Inter na l Revenue Code Section 457 The plan, available to all City employees, permits them to defer a portion of their salary unti l future years. The deferred compensation is not avellable to employees until termination, retirement, death, or un foreseeable emergency.
All amounts of compensation dsferred under the plan, all property and rights purchased with those amounts, and all Income attributable to those amounts, property, or rights are (until paid or made available to the employee or other benef f etary) solely the property and rights of the City (wlthout bef rig restrleted to the provlstons of benef f ts under the plan), subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of gener al creditors of the Ci ty in an amount equal to the fair market value of the deferred account for each participant. It is the opInfon of the City's legal counsel that the City has no llability for losses under the plan but does have the du ty of due care that would be required of an ordinary prudent I n ve stor. The City believes that It Is un likely that it will use the assets to satIsf y the clelms of the general creditors In the future. The City has chosen to have this plan administered by on Independent plan administrator. By agreement between the employee and the C!ty, an arrangement has been made to have the applicable portion of the employee's compensation deposited with the International City Management Association Retirement Corporet ton's national trust f und. It will Invest and reinvest the money and credit each account with earnings from its Investments. 3 OUTSTANDING CONTRACTS - The Ci ty has outstanding commitments on verlous contracts for construction and other projects. These commitments, as of September 30, 1988, in the respective f unds are as tollows: Special Revenue Funds . . . . . . . . $ 823,900 Cap i ta l Pro ject Fun ds . . . . . . . . 4,252,500 Enterprise Funds Electric. . . . . . . . . . . . . 3,683,100 Sewer . . . . . . . . . . . . . . 1,118,100 Wator . . ............ 872,300 Airport . . ........... 17,414,900 Taltran . ............ 204,800 I nterna l Service Fun ds. . . . . . . . 725,100 Total . . ........ 129,094,700 4 LONG-TERM DEDT
- a. The following Is a summary of the changes In long-term debt for the City for the year ended September 30, 1988:
Accrued Revenue Loan Leave General Propr ieta ry Payable Payeb le Total Payable - October 1,1987 120,605,000 (134,038,500 $18,200,000 12,280,200 $175,123,700 New issue . . . . . . . . . - 12,350,000 - - 12,350,000 Retired . . ........ - (6,755,000) (160,300) - (6,915,300) j Don d Accre t t or.. . ..... - 1,224,800 - - 1,224,800 Net Change In Accrued Leave - - - 679,100 679,100 Payable - September 30, 1988 $20,605,000 $140,858,300 $18,039,700 $2,959,300 $182,462,300 I B-27
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCI AL STATD4ENTS September 30, 1988 NOTE Ill - (Continued)
- b. Summarized below are the City's Individual bond issues which were outstanding at September 30, 1988:
General revenue bonds: 120,605,000 Capital Refunding Bonds - Series 1984, due In annual Installments of $540,000 to 1,050,000 from October 1,1994 to October 1, 2006 with a term payment of $13,765,000 due October 2007, Interest at 11.05%. In addition, the City is required to make semi-annual sinking fund Investment purchases of $986,500 to $1,780,200 from November 15,1984 to May 15,1993, in order to prowl de for the term payment due October 1, 2007. $ 20,605,000 Proprietary revenue bonds: 193,290,100 Junior Llen Electric Refunding Revenue Bonds Sarles 1985, due In annual Installments of $2,899,800 to
$8,130,000, October 1, 1991 through October 1, 2007, et an effective averogs Interest of 9,34%, Bonds stated at face amount plus accretton of $3,363,200. 5 96,653,300
$19,640,000 Senior Llen Electric Revenue Bunds - Serles 1985-A, due In annual Installments of $3,305,000 to $6,115,000, October 1, 1988 through October 1,1990, at an ef fective average Interest of 7.265. 9,420,000
$ 7,300,000 Municipal 'Jtility Revenue Bonds - Series 1970, due in annual Installments of $50,000 to $700,000 through October 1, 1996, Interest at 5.9%. 4,825,000 13,150,000 Municipal Utility Revenue Bonds - Series 1970A, due in annual Installments of $50,000 to $300,000 through October 1, 2001, Interest at 5.5%. 1,800,000
$12,000,000 Municipal Utility Revenue Bonds Series 1979, due in annual Installments of $175,000 to $1,785,000 through October 1, 2001, Interest at 5.9%. 10,410,000
$6,000,000 Municipal Utility Revenue Bonds - Series 1982, due In ]
a nnua l Installments of $100,000 to $675,000 from October 1, 1984 to October 1, 2003, Interest at 8.72%. 5,400,000 ;
$12,350,000 Airport Revenue Bonds - Serles 1988A, due In annual Installments of $225,000 to $1,000,000 from October 1,1992 to October 1, 2014, Interest at 6.2%. 12,350,000
$140,858,300 0-28
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CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCI AL STATDENTS September 30, 1988 NOTE 111 - (Continued)
- e. Refunded issues - In prior years, the City defeased certain general obligation and other bonds by placing the proceeds of new bonds in an Irrevocable trust to provide for all future debt service paymen1rs on the old bonds. Accordingly, the trust account assets and the liabili ty for the defensed bonds are not Included In ' the C!ty's financial statements. The following schedule reflects the refunded bonds as of September 30, 1988:
Outstanding as of Type Serles September 30, 1988 General Revenue 19 73 $ 17,100,000 1978 38,800,000 1981 22,850,000 Municlpal Hospital 1967 960,000 Municipal Electric 1963 420,000 1964 2,400,000 1969 4,800,000 1972 15,100,000 1977 90,220,000 1932 19,500,000
$212,150,000
- f. Loan Payable - On November 18, 1986, the City obtained an $18,200,000 loan from the Sunshine State Governmental Financing Commission, the proceeds of which were used to retire en outstanding Special Assessment note and to finance construction of certain water and sewer projects. The rate of Interest on the loan will vary based upon market Interest rates for short-term tax exempt financing. The loan Interest rate at September 30, 1988 was 6.5%. ,
The accompanying debt service schedule was prepared uttilring a fifteen percent (15%) l Interest rate, which Is the maximum rate on the loan. The loan is non-project specific (as long as designated projects are appropriate under Florida Law and will not cause the loan, if considered as a separate bond Issue, to be in violation of applicable IRS guldelines) and non-revenue specific (a covenant to budget and appropriate for non-advalorem revenues exists). The loan has been allocated as fo l low s: general government ($2,022,000, with the primary source of debt service being collections of special assessment receivables); water f un d ( $ 7,483,700, with the primary source of debt service being water operating revenues); and sewer fund (58,694,300, with the pr imary source of debt ser vice being sewer operating revenues). The loan is due to be repaid at July 1, 2016; however, earlier repayment is allowed under the terms of the loan.
- g. Bonds issued - Airport Revenue Ibnds Series 1988A dated March 15, 1988 were issued in the principal amount of $12,350,000. The Bonds mature annually beginning October 1, 1992 with final maturity on October 1, 2014 Interest is due and payable semi-annually on April 1, and October 1, of each year. The Bonds are collaterallred by a first and prior claim on the net revenues of the Airport System. The proceeds of the Issue were used to finance Improvement and extensions to the Airport System.
B-31
CITY OF TALLAHASSEE, FLORIDA MOTES TO FINANCI AL STATEENTS september 30, 1988 NOTE Ill - (Continued)
- 5. ACCRUED LEAVE Accrued leave by f und consists of the following at September 30, 1988 -
Accrued Accrued ; Vacation S!ck Leave Total Electric . . . . . $ 587,800 $ 534,200 $1,122,000 ) Gas. . . . . . . . 52,300 36,800 89,10C Sewer. . . . . . . 185,800 137,600 323,400 Water. . . . . . . 68,200 72,300 140,500 Airport. . . . . . 64,200 83,000 147,200 Taitran. . . . . . 103,000 49,200 152,200 ; Solid Weste. . . . 133,100 114,300 247,400 Golf Course. . . . 17,200 7,500 24,700 Internal Service Funds 427,900 309,000 736,900 j General Long-Term Debt 1,506,700 1,452,600 2,959,300 : Total $3,146,200 $ 2,796,500 $ 5,94 2,700 l
- 6. LEASE CupMITMENTS I l
The City leases a significant amount of data processing equipment from verlous corporations. The. leases are for i to 5 years expiring in 1989 through 1993, and may be renewed annually thereaf ter. The leases are classified as operating leases. The lease payments are charged to expenditures when paid. To te l ' remaining payments required by operating lease agreements for each fiscal year ended September 30s 1989 $ 944,500 1990 888,000 1911 736,600
-2 603,800 1 o1 183,500 I Total Remaining Payments $ 3,356,400
- 7. SD J-lNSURANCE PROGRAM The Self-Insurance Program provides coverage against workers' compensation claims (up to a maximum of
$100,000 per occurence), general liability and automobile liability. The Risk Management Fund is responsible for collecting premlums from Insured funds and paying claims settlements and purchasing certain Insurance policles. Claims settlements and loss expenses are accrued for the estimated settlement value of reported and unreported claims arising from Incidents during the period. At September 30, 1988, the City recorded a liability of $1,522,500 for claims.
C. INTEMUND RECEIVABLES AND PAYAILES At September 30, 1988, interf und Receivables and Payables are as follows: Interf und Interf und Fund Receivables Payables-General. . . . . . . . . . . . . . . 5 -
$41,300 Reading, Billing and Collection. . . 45,200 -
Airport. . . . . . . . . . . . . . . - 1,000 Tallahassee Transit. . . . . . . . . - 2,900
$4 5,200 $4 5,200 0-32
l 1 1 J CITY OF TALLAHASSEE, FLORIDA ) NOTES TO FINANCI AL STATEENTS ) 1 Se m so, 198a NOTE 111 - (Cantinued) ; D. FUtc EQUITY 1 OiANGES IN CONTRIBUTED CAPITAL
- 1) Enterprise Funds - The following changes occurred in contributed capital of the Enterprise Funds during I the year ended September 30, 1988:
Tallahassee Solid Go lf Electric Sewer Airport Transit Weste Course Total Beginning Balance as of October 1, 1988 . . . . . $ 1,890,700 $22,685,40,0 $20,228,800 $ 9,677,200 $ -5 - $54,482,100 Additions: Grant Construction Capital . . . . . . . . - - 41,200 160,000 - . 201,200 Ravenue Bond Construction - - 1,280,400 - - - 1,280,400 Grant Revenue. . . . . . - - - 322,700 - - 322,700 Flr d Assets . . . . . . - - - - 8,200 -- 8,200 Transfer from Other Funds - - - - 1,040,700 1,514,700 2,555,400
~
Total Additions . . . . - ~ 1,321,600 482,700 1,048.900 1,514,700 4,367,900-Deductions: 1 Dspreclation on Contributed Assets. . . - 692,800 514,200 480,600 - - 1,687,600 i Accrued Annual Leave . . - - - - 247,400 22,700 270,100 Advance from , Gsnera l Fund. . . . . . - - 743,800 - - - 743,800 Miscel l aneous. . . . . . - - - - 13,200 - 13,200 Total Deductions. . . . - 692,800 1,258,000 480,600 260,600 22,700 2,714,700 . Ending Balance as of September 30, 1988 . . . $ 1,890,700 $21,992,600 $20,292,400 $ 9,679,300 $ 788,300 $1,492,000 $ 56,135,300
- 2) Internal Service Funds - The following changes occurred In contributed capital of the Internal Service Funds dur Ing the year ended September 30, 1988:
Risk Garage Management Commm ication Total Beginning Dalance as of October 1, 1988 . . . . . . . . . $ 2,776,900 $ 893,500 $ - 5 3,670,400 Additions: Transfer from General Fund. . . . - - 15$,600 155,600 F l xe d As set s. . . . . . . . . . . 660,700 - -- 660,700 Tota l Additions. . . . . . . . . 660,700 - 155,600 816,300 Deductions: Accrued Annual Leave. . . . . . . - - 25,800 25,800 Tota l Deducticas . . . . . . . . - - 25,800 25,800 Ending Balance as of Ssptember 3 0, 19 88. . . . . . . . $ 3,437,600 $ 893,500 $- 129,800 $ 4,460,900 B-33
CITY OFTALLAHASSEE FLDRIDA 0 NOTES TO FINANCI AL STATEENTS September 30, 1988 NOTE Ill - (Contlnued) D. FUlO EQUlTY
- 2. DIANGES IN ESERVED RETAINED EARNINGS - ENTERPRISE FLM)S For purposes of this presentation, the Tallahassee Transit Fund, Airport Fund, Solid Weste Fund, and Golf Fund, have been combined as others. As of September 30, 1988, the Reserved Retained Earnings for the Ta ftahassc Transit Fund, Airport Fund, Solid Waste Fund, and Golf Fund, was $63,300, $12,445,400,10, and 50, respectively.
The following changes occurred in reserved retained earn tngs of the enterprise funds during the year ende( September 30, 1988: Total Enterprise Electric Gas Sewer Water others Funds Reserved Retained Earnings: Revenue Bond Reserve. . . . . . $!' a % 400 $ 75,500 $ 1,883,300 $ 635,600 $ - $ 17,398,900 Sunshine State Construction . . - - 9,006,800 7,772,500 - 16,779,300 Revenue Donds Renewal and Replacement. ......... 28,408,200 3,024,200 6,402,900 2,106,700 - 39,942,000 Revenue Bonds Construction. . . 17,473,500 - 4,304,200 3,470,200 - 25,247,900 Line Extension and Depreciation - - 1,032,400 608,900 - 1,841,300 l Renewel and Replacement . . . . - - - - 2,418,900 2,418,900 Construction. ......... - - - - 372,500 372,500 Other . . . . . . . . . . . . . 9,300,800 82,100 832,100 123,200 460,600 10,798,800 Total - October I, 1987. . . . 69,987,000 3,181,800 23,661,700 14,717,100 3,252,000 114,799,600 Add income Earned on Restricted Assets . . . . . . . . . . . . 1,675,800 221,900 1,645,900 1,042,200 1,269,300 5,855,100 Transfers from Other Funds. . . 413,300 - - 71,300 - 484,600 , Advance from Other Funds. ... - 9,900 500,000 - 1,027,900 1,537,800 Debt Service Funding. . . . . . 14,023,300 15,000 1,751,300 1,247,500 - 17,037,100 Renewal and Replacement Funding 12,648,000 1,096,400 1,372,900 2,294,700 1,058,800 18,460,800 increase in Otner Reserve . . . 52,100 16,300 - 197,800 - 266,200 Miscellaneous Revenue . .... - - 1,247,700 853,900 - 2,101,600 Dond Proceeds . . . . . . . . , - - - - 12,111,000 12,111,000 l Payment of Bond Principal . . . (5,745,000) (9,000) (704,200) (296,800) - (6,755,000) Trans fer to Other Funds . . . . (710,700) (22,600) (97,400) (236,400) (223,800) (1,290,900) Interest and Fiscal Charges . . (8,287,300) (3,000) (1,559,200) (885,000) (741,300) (11,475,800) Transfer of Fixed Assets and Expenses . . . . . . . . . ( 13,370,100) (914,900) (3,434,600) (3,501,600) (5,245,200) (26,466,400) Net increase in Reserved Retained Earnings. . . . . . . . 699,400 400,000 722,400 787.600 9,256,700 11,866,100
$70,686,400 $ 3,581,800 $24,384,100 $15,504,700 $12,508,700 $ 126,66 5,700 Reserved Retained Earnings:
i Revenue Gond Reserve. . . . . . $14,804,500 $ - $ 1,883,300 $ 635,600 $ 1,109,200 $ 18,432,600 l Revenue Bonds Debt Service. . . - - - - 530,600 530,600 Revenue Donds Renewal and Replacement. . . . . . . . . 30,025,200 3,407,900 7,751,400 2,661,000 - 43,845,500 Revenue Bonds Construction. . . 16,427,300 75,500 4,051,530 3,419,900 - 23,974,200 Line Extension and Depreciation - - 1,818,800 1,209,300 - 3,028,100 Renewal and Replacement . . . . - - - - 2,655,100 2,655,100 Other . . . . . . . . . . . . . 9,429,400 98,400 853,600 321,100 112,800 10,815,300 Construction. . . . . . . . . . - - - - 8,101,000 8,101,000 . Sunshine State Construction . . - - 8,025,500 7,257,800 - 15,283,300 Total - September 30, 1988 . . $70,686,400 $3,581,800 $24,38 4,100 $15,504,700 $12,508.700 $126.665,700 0-34
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30, 1988 NOTE Ill - (Continued) The following is a description of each reserve Revenue Bond Reserves Established in conjunction with the Issuance of Revenue Bonds and fully funded by initial deposits from the proceeds of such revenue bonds. The reserve is to maintain, at all times as long as the bonds are outstanding, en amount equal to the maximum debt serv!ce due in any ensulng fiscal year. Revenue Bond Debt Service: Established In conjunction with the issuance of revenue bonds and funded by Initial deposits from the proceeds of such revenue bonds and by transfers from the revenue accounts of the appropriate enterprise funds. The use of noney is restr icted to the payment of current bond service requirements. Revenue Bond Renewal and Replacements Established In conjunction with the issuance of revenue bonds and f unded by transfers from the revenue accounts of the appropriate enterprise f unds. The use of money is restricted to fundlng the cost of extensions, enlargements or additions to, or replacement or emergency repair of, capital assets. Revenue Dond Construction: Established in conjunction with the issuance of revenue bonds and are funded by Initial deposits from the proceeds of such revenue bonds and Investment earnings. The use of the mon ey is restricted to the acquisttlon of construction of projects as Indicated In the appropriate Bond Resolution. Line Extension and Depreciation: Reserve la funded through the collection of water and sewer system charges. The use of money is restricted to extensions and expansions, of the City's water and sewer systems. Other Other reserves have been established by Commission action for specified purposes. B-35
CITY OF TALLAHASSEE FLOR!DA NOTES TO FINANCIAL STATEMENTS September 30, 1988 l NOTE 111 - (Ca1tinued)
- 3. RESERVED FUlO BALANCES AND RETAINED EARNINGS: )
- 1) Governme nta l and Expendable Trust Funds - Reserved f und balances indicate those portions l l
of fund balances that are legally segre gated for a specific use or not eva l l ab le for appropriation or expenditure. The nature of these reserves are as follows: September 30 j 1988 1987 { General Fund - Reserved for: Advances to Other Funds. ................. $ 733,600 $ 25,900 inventory. . . . . . . . . . . . .... .. ....... 5,600 35,100 L a w En f or ceme n t. . . . . . . . . . . . . . . . . . . . . . 51,700 43,200 Note Receivable. . . . . . . . . . . . . . . . . . . . . . 15,000 15,000 En cumbra n ces . . . . . . . . . . . . . . . . . . . . . . . 2,123,500 1,096,300 Total General Fund . . . . . . . . . . . .. . .. ... , 2,929,400 1,215,500 Special Revenue Funds - Reserved for P r o je ct s . . . . . . . . . . . . . . . . . . . . . . . . . 783,000 27,300 Notes Rece i vab l e. . . . . . . . . . . . . ... ..... 205,000 131,400 Community and Rehabilitative Trust. . . .. . ...... 44,500 27,000 Tota l Spec i a l Reven ue Fun d s. . . . . . . . . . . . . . . 1,032,500 185,700 Debt Service Fund - Reserved for Curren t Debt Serv i ce . . . . . . . . . . . . . . . . . . . 399,800 395,500 Fu ture Debt Ser v i ce. . . . . . . . . . . . . . . . . . . . 7.719,200 6,430,100 Total Debt Service Fund. ................ 8,119,000 6.825,600 Capital Projects Funds - Reserved for: Encumbrances . . . . . . . . . . . . . . . . . . . . . . . 4,380,200 2,397,100 Pr o je ct s . . . . . . . . . . . . . . . . . . . . . . . . . 26,571,300 21,600,500 i Tota l Capita l Projects Funds . . . . . . . . . . . . . . 30,951,5 00 23,997,600 ? l4 Expendable Trust Funds - Reserved for Ad va nce to Other Funds . . . . . . . . . . . . . . . . . . 1,527,800 500,000 Encumbrances . . . . . . . . . . . . . . . . . . . . . . . 800 6,900 Stadium improvements . . ................. 51,400 45,300 Stadium Operations . . . . . . . . . . . . . . . . . . . . 15,400 13,800 Total Expendable Trust Funds . . . . . . . . . . . . . . 1,595.400 566,000 Total. . . . . . . . . . . . . . . . . . . . . . . . . $44,627,800 $32,790,400
- 2) Internal Service Funds - Reserved retained earnings are restricted to Indicate funds obligated as follows:
Reserved for: F l ee t Ma n a geme n t . . . . . . . . . . . . . . . . . . . . 1 7,558,800 $ 3,036,200 Pr o je ct s . . . . . . . . . . . . . . . . . . . . . . . . 1,516,100 1.711,000 Total. . . . . . . . . . . . . . . . . . . . . . . . . $ 9,074,900 $_,4,7 47,2 00 l j B-36
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCI AL STATEMENTS September 30, 1968 NOTE 111 - (Continued)
- 3) Pension Trust Fund - Fund Balance by Article is reserved to Indicate fund equity restricted )
for future benefits to members of the pension plans as follows: 1988 1987 Genera l Emp l oyee s - Artic l e 11 . . . . . . . . . . . . . . . . $102,949,600 $ 17,100,000 ) Pollce Officers - Article Ill. . . . . . . . . . . . . . . . . 21,943,600 17,796,800 : Firefighters - Article IV. . . . . . . . . . . . . . . . . . . 21,617,700 17,893,000 General Defined Contribution - Article v . . . . . . . . . . . 8,423,800' 5,996.100 l
$154,934,700 $ 129,785,900 ~l Total . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 DESl0NATED FUIO BALANCE The City has established too following designations of fund balance within the Defielencies and Emergencies Funo (an Expendable Trust Fund type): I A $993,800 designation of funds for annexations related front-ending of expenditures. A $70,500 designation of f unds to cover the City's contribution of $35,250 in fiscal year 1989 and 1990 to the Housing Development Corporation. The Housing Development Corporation is a private not for prof it i corporation established to provide low cost housing. l I A $1,750,200 designation of funds for Sanitation. The City currently has a contract with a private company ) to provide residential sanitation services in the recently annexed areas. . The City has designated these f unds for purchase of vehicles should this contract be terminated and the City decides 6 provide this service. l l B-37
CITY OF TALLAHASSEE, F1.ORIDA l NOTES TO FINANCI AL STATDOTS Septes6er 30.1988 j NOTE IV - FINAMCf AL $[QDT jNFORMAT,0N OF DITDW' RISE FUND $ l l i The City malateins eight Enterpelse funds which provide electric, gas, sewer, water, airport, mass transportation, solid waste collection, and 7211 course operation services. 5egeant In formation for the year ended September 30, 1988 was as follows: Tallahassee Total Water Airport Tr ansit Solid Weste Golf Course Enterprise i Electr ic Gas Seve Fund Fund Fund Fund Fun d Fund Fund Fun os f Fund Operating 1120,799,000 3 9,249,800 112,866,500 5 9,638,000 $ 4,541,200 $ 1,458,500 1 6,557,100 $ 795,000 1165,905,100 Revenues . . . . Depreciation and Ascetis ation 635,300 1 623,500 1 489,500 8 172,200 1 48,400 5 12,466,200 Expense. . . . . 5 8,339,100 $ 230,200 5 1,8 78,00t) 5 Operatf ng incoes or (Loss). ... t 45,210,200 1 2,277,100 5 1,685,000 5 4,326,000 5 435,500 $(2,847,300) 1(1,706,900) 1 (223,400) $ 49,156,200 Operating Transfers: In...... 1 415,300 8 9,900 1 36,000 1 71,300 1 - 5 t,9 36,600 l 1,524,100 1 233,000 $ 4,226,200 l(26,059,400) $(1,066,400) $ (222,100) 1(1,386,300) $ (4,000) 5 - 1 -- 5 (60,400) 5(28,798,600) Out. . . . . . Net income or . .
$ 17,647,700 1 1,351,400 1 3,292,700 1 3,863,400 1 903,600 1 (258,000) $ (182,800) $ (52,900) 5 26,565.100 (Loss)
Current Capitals 577,800 1 322,800 $ 788,300 1 I,492,000 1 3,180,900 Contributions. . 8 - $ = $ - $ - t Restricted Assets 1 70,904,300 $ 3,581,800 $24,444,200 $ 15,63 2,300 $22,276,200 1 - $ - 5 - $136,838,800 Ff med Assets (Costle Additions . . . $ 13,911,600 1 911,200 1 3,737,100 1 3,579,300 $ 4,851,500 $ 660,800 $ 644,800 1 1,469,500 1 29,765,800 (810,800) $ (2,200) $ - $ - 1 (1,400) $ (890,100) Deletiona . . . 8 (700) 1 (10,000) $ (65,000) $ Net Working Capital. . . . . 1 22,092,300 1 872.100 1 819,700 5 495,200 1 753,200 $ I,119,000 $ 380,300 $ 44,100 1 26,575,900
. sasou l i
Total Assets. . . 1292,292,400 $11,235,700 194,747,000 143,596,400 $41,707,900 1 9,851,600 $ t,051,400 $ t ,465,100 1495,947,500 Bonds and Other Long-tors Liabill-tiets Psyable from Operating 96,500 $ 2 4,482,600 113,891,200 112,350,000 1 - 5 - 1 - $156,893,600 Revenues. . . 1806,073,300 $ Total Fund Eoulty $170,448,300 $10.549,500 $67,694,100 127,637,000 $26,419,400 1 9,622,100 1 605,500 1 1,439,100 1314,415,000 l 9-34 i i
I CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATENENTS ] September 30, 1988 NOTE Y - RELATED PARTIES I A - JOINTLY OWNED ELECTRIC UTILITY PLANT The Electric Utility Fund's owned resources for supplying electric power and energy requirements l Include Its 1.3353% undivided ownership Interest in the Crystal Rf ver Unit 3 (CR3) nuclear power ' plant operated by Florida Power Corporation. G3 revenue and operating maintenance costs, which represents the Electric Utfif ty's part of all revenue and expenses attributable to operation of CR3, are properly recorded in accordance with the Instructions as set forth In the Uniform System of Account s. Payments are made to Flori da Power Corporation In accordance with the CR3 participation agreement. ] I Condensed financial information is not available relating to the power plant. Included within the Electric Fund's " Reserve for Other" is approximately $2.1 million set aside for the City's share of the costs associated with the decommissioning of the nuclear power plant. The plant's decommissioning is anticipated to occur in 2008 J i B - SUNSHINE STATE 00VERMENTAL FINANCING CON 41SS10N in November 1985, the C!ttes of Tallahassee and Orlando, Florida, through an Interlocal j agreement, created the Sunshine State Governmental Financing Commission (the Commission) which was developed as a pooled financing vehicle to allow for a ilmited number of high quellty Florida local governmental un its (cities and countles) to joln together in a variable rate financing j program. On July 16, 1986, the Comm!ssion issued $300,000,000 In Verlable Rate Long-Term Bonds supported by a letter of credit from three major Japanese banking Institutions. - The proceeds of the bonds are being used to provide loans to selected governmental units, acceptable to the bank s, which have an A (or better) credit rating. Individual loans may be for l a term of up to 30 years, with or without principal amortization. Each participant's loan will I bear Interest at . - ef fective blended rate and the participant is responsible for paying by the ! 15th of each month the preceding month. Initial loans from the Commission must be taken ewn prior to July 1,1988 and any proceeds still in the loan account not lent as of July 1,1988 will be called at that time. All of the excess Interest earnings derived from the various accounts of the Commission pelor to July 1,1988, wlll be held and available to make up the non-asset bonds (the original Issuance cost of $3,300,000 l reduced by 1.1% of each loan) or the bonds at that time. To the extent that there are excess Interest earnings available for distribution as of July 1,1988, the eernings will be distributed l to the participants based on a formula which recognizes the timing of their entry Into , the program and the size of their loan. As of September 30, 1988, all bond proceeds have been loaned. According to the Interlocal agreemen t, ea ch participating go vernmental unit appof nts a representative to the Commission. These representatives elect a Board of Of rectors which is responsible for the administration of the program. As of September 30, 1988, the Board consisted , of five members representing the City of Tallahassee, the City of Orlando, the City of Vero Beach, the City of Lakeland, and Dade County. The City of Tallahassee has no obligation or risk associated with the Commission other than the repayment of Its loan from the CommtssIon (See Note 111.4.F). Condonsed fInanc!al information relatlng to the Commission was not available as of the issuance of this report. B-39 l: l _-___-
1 i CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCI AL STATEMDITS ) September 30, 1968 j I J NOTE VI - CONTINGENCIES A. Litigation {
]
The City Is Involved in pending lawsuits. The City Attorney estimates that the potential claims f against the City not covered by Insurance resulting from litigation would not materf ally af f ect q the financial position of the City. I l B. Federal Grants j i l The City participates In a number of federally assisted programs, principal of which are the ; Urban Mass Transportatf on Authorlty, Community Development Block Grant and the Federal Aviation l I Authority programs. These programs are subject to the program compliance audits by the grantees under the Of fice of Management and Budget Circular A-128. The audits of these programs for or ! j Including the year ended September 30, 1988 will be issued under separate report. The amount, if any, of expenditures whIch may be dlsallowed by the granting agencles is Immaterial to the C!ty's Combined Financial Statements. l
\
C. $150.000,000 City of Tallahassee, Florida Capital Program Revenue Bondo, Series 1988 3 On July 14, 1988, the Ci ty issued $150,000,000 City of Tallahassee, Florida Capital Program Revenue Bonds, Series 1988. The bonds are a special, limited obligation of the City issued under a Trust indenture dated as of July 1, 1988 between the City and Sun Dank, National Association, as trustee. The bonds were issued to provlde funds for the C!ty or to loan to any participating political subdivision or municipal corporation to finance, refinance or reimburse the costs of quall f fed projects. The bonds are payable so lely out of the Trust Estate and do not constitute or create an obligation, general or special, or debt, liability or moral obligetton of the State of Florida or any political subdivision or any municipal corporation, including the City. The City is IIable only to the extent of any funds the City borrows from the bond Issue. As o f September 30, 1988, the City has not borrowed any such funds. D. Construction Agreement On August 10, 1988 the City and General Dynamics Corporation entered into en agreement dated ! February 9, 1988, pursuant to which Genera l Dynamics will establish a manuf acturing f acility within the corporate limits of' the City. i The facility will be constructed on City owned property and the cost of construction of the project shall be borne by the parties with the City's share of the cost Ming limited to the lesser of 12.2 million dollars, or the cost of providing a building. D-40
i COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP-STATEMENTS AND SCHEDULES Thesa 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. r i i i l l 1
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.
CITY OF TALLAHASSEE, FLORIDA GENERAL FUM) BALANCE SHEET September 30 1988 1987 ASSETS Cash . . . ........................ 5 41,300 1 41,300 Equity in Pooled Cash. .................. 4,029,000 2,946,400 Rece iva bles : Customers . . . . . . . . . . . . . . . . . . . . . . . 533,200 966,300 Accounts. . . . . . . . . . . . . . . . . . . . . . . . 699,200 708,900 Note. . . . . . . . . . . . . . . . . . . . . . . . . . 15,000 15,000 Less: Allowance for Doubtful Accounts. . . . . . . . . (64,400) (74,400) Advances to Other Funds ................. 733,600 25,900 inventory. . .................. . . . . 5,600 35,100 Total Assets. . . . . . . . . . . . . . . . . . . . . 15,992,500 54,664,500 LI ABILITIES AND FUND BALANCE Liabilities: Accounts Payable. ................... $ 273,500 $ 170,900 Due t o Ot h er F u n d s. . . . . . . . . . . . . . . . . . . 41,300 41,300 Total Liabilities . . . . . . . . . . . . . . . . . . 314,800 212,200 Fund Be lance: Reserved fort inventory . ...................... 5,600 35,100 Ad vances to Other Funds . . . . . . . . . . . . . . . . 733,600 25,900 Law Enforcement .................... 51,700 43,200 mte Receivable . . . . . . . . . . . . . . . . . . . . 15,000 15,000 Encumbrances. . . . . . . . . . . . . . . . . . . . . . 2,123,500 1,096,300 Tota l Roserved. ................... 2.929,400 1,215,500 Un reserved /Undes lanated. ................ 2,748,300 3,236,800 Tot a l Fund Ba lanc e. . . . . . . . . . . . . . . . . . 5.677,Y00 4,452,300 Total Liabilities and Fund Balance. ......... $5,992,500 54,664,500 The accompanying notes are an integral part of these financial statements. C- 1
CITY OF TALLAHASSEE, FLORIDA General Fund ~ Schedule of Revenue Fisc'al Year Ended September 30 1988 1987
' Actual Actual on Variance- on Budgetary Favorable B udgeta ry Budget Basis (Unfavorable) Basis Taxes:
Ad valorem . . . . . . . . . $ 6,603,600 $ 6,744,400 5 140,800-'$ 5,500,000 Oeneral Sales and Use Taxes: Local Option Gas Tax. . .. 2,923,500 2,860,800 (62,700) 1,801,600 Local Alternative Fuel User Fee. . . . .'. . . . . . . -- 2,900 2,900 2,200 Public Service Taxes: El ectr ic i ty . . . . . . . . 5,151,000 5,546,300 395,300 4,535,500 Telephone . . . . . . . . . 1,041,800 '878,700 (163,100) 971,800 Water . . . . . . . . . . . 661,200 605,400 (55,800) '443,700 Ga s . . . . . . . . . . . . 323,800 404,800 81,000 284,300 Pr op a n e . . . ' . . . . . . . 166,100. 151,800 (14,300) .131,400 Fuel 011. . . ... . . . . . 100,000 61,500 (38,500). -- Franchise Fees: Telephone . . . . . . . . . 535,500 366,800 (168,700) 487,200 Cable Television. . . . . . 215,400 253,600 38,200 222,400 Total Taxes . . . . . . . 17,721,900 17,877,000 155.100 14,380,100 Licenses and Permits: Occupational ........ 611,800 698,700 86,900 558,500 B u i l d i ng . Permi ts . . . . . . 405,100 668,700 263,600 438,900 Total Licenses and Permits 1,016,900 1.367,400 350,500 997,400 I l Intergovernmental Revenue:
.)
Federa l : l Revenue Sharing . . . . . . -- -- -- 12,000 State Shared Revenues: Local Government 1/2 Cent Sales Tax.. ....... 3,800,000 4,350,100 550,100 3,386,200
)
Two-Cent Cigarette Tax . . 343,500- 345,000 1,500 308,500 I Revenue Sharing. . . . . . 3,625,000 3,878,600 253,600 -3,786,100 l Mobile Home Licenses . . . 36,100 37,700 1,600 37,600 ! Alcoholle Beverage License 85,000 77,100 (7,900) 75,600 Public Saf ety: Firef ighters' Supplemental Compensation. ...... 6,300 23,000 16,700 20,500 County: City Share of County Occu-pational Licenses. . .. . 91,500- 92,100 600 83,700 Payments-in-Lieu-of-Taxes . -- 6,900 6,900 --
' Total Intergovernmental Revenue. . . . . . . . . 7,987,400 8,810,500 823,'100 7.710,200 C-2 The accompanying notes are en integral part of these financlel statements.
1 ____E_______2________________________________ _ _ _ _ _ _ _ _ _ _ _ . _ . _ _ _ _ _ _ _ _ _ . . _ _ _ _ . _ _ . _ _ _ _ _ _ _ _ _ _ _ . _ _ _ . _ _ _ _ _ _ _ _ _ _ _ _ _ . _ _ _ _ _ _ _ _ _ . _ _ _ _ _ _ _ . . _ _ _ _ _
i l CITY OF TALLAHASSEE, FLORIDA Gener.1 Fund l Schedule of Revenue-(Continued) i Fiscal Year Ended September 30 1988 1987 j i Actual Actual I on- va riance- on
-l Budgetary Favorable Budgetary '.
l Budaet Basis (Unfavorable) Basis l l i Charges .for Servicesi I Oeneral Government Charges: Zoning Fees . . . . . . . . 39,900 37,200 (2,700) .41,000 County for Planning Dept. . 346,000 451,900 105,900 359,800 Sale of City Code Books . . 1,500 3,300 1,800 1,600
)
Public Safety Chargesi I Po l ice Services . . . . . . 30,000 29,600 (400) 34,800
]
County for Fire Protection. 1,345,100 1,375,800 30,700 1,291,800 Physical Environment Charges: Solld Weste Revenue . . . . -- -- -- 4,940,400 -) Lot Mowing and Clearing . . 5,400 5,400 . - - 5,500 .j County for Drainage . . . . -- -- -- 200,000 l Transportation Chargest i Parking Facility. ..... 376,900 357,300 .(19,600) 379,000 Traf fic Signal Maintenance. 5,500 5,300 (200) 5,900 Parking Meter Receipts. 2 230,000 198,000 (32,000) 194,000 Human Services Charges: Animal Shelter Fees . . . . 62.100 66,000 3,900 61,200-Parks and Recreation: Program ActIv ity Fees . . . 380,200 363,500 (16,700) 337,200 Golf Courses. . . . . . . . -- - -- 693,900 Swimming Pools. . . . . . . 65,000 52,100 (12,900) 33,300 Other ........... 48,900 23,400 (25,500) 21,800 County for Parks and Recreation . . . . . . . . 215,000 217,300 2,300 - 208,200 Total Charges for Services 3,151.500 3,186,100 34,600 8,809,400 Fines and Forf eitures: Traffic Fines. . . . . . . . 340,000 414,200 74,200 331,300 Parking violations . . . . . 419,100 .304,400 (114,700) 391,500 Police Education $2.00 . . . 22,600 34,700 12,100 29,100 Total Fines and Forfeitures 781,700 753,300 (28,400) 751,900 , i I 1,. _ P.nyI .ot.s .,. Inte,,.1 P.,t ., , m . ,l _ .l., . tat. _ te. c-3 ! 1
'I l
i CITY OFTALLAHASSEE, FLORIDA ;! I General Fund Schedule of Revenue l (ContIneed) Fiscal Year Ended September 30 1988 1987 .. Actual Actual on Verlance- on - B udg etary Favorable Budgetary Bud oet Basis (Unfavorable) Basis Miscellaneous Revenues:
. interest . . . ....... 258,700 296,200 37,500 298,400' Rents and Royalties. . . . . 193,300 127,400 34,100 246,100 Recovered Costs. . . . . . . 349,000 304, 0 0 (44,600) 364,000 Sa les :
Cemetery tot a . . . . . . . 8t 300 105,100 16,800 '90,700 Surplus Traf fIc Materf als . E 400 7,800 (600) 9,400 Other. ........... 313,500 192,600 (120,900) 110,600 Total Misceileneous j Revenue. . . . . . . . . 1,281,200 1,133,500 (77,700) 1,119,200 l Tota l Revenue . . . . . . $31,8 70. 600 $33.127,800 $1,257,200 $ 33,768,200
.i i
C-4 The accompanying notes are an Integral part of these financial statements. l L t.
CfrY OF TALLAHASSEE, FLCMIDA GENERAL FUfe : SCHEDULE OF EXPDeiTURES Fiscal Year Ended September 30 1988 1987 Variance-Budgetary Favorable Budaet Basis (Unfavorable). Actual < Actual Geroral Government: Legislative City Commission Personal Services . . . . . . $ '160,300 $ 158,400 $ .1,900 $ 158,400 $ 135,100 Other Operati ng . . . . . . . 58,500 54,000 4,500 54,400 :42,300 Capital Outlay. . . . . . . . 500 500 - 500 - 213,300 177,400 Tota l Legi slat ive. . . . . 219,300 212,900 6,400 Executive City Manager , Personal Services . . . . . . 439,900 439,300 600 439,300 417,000 Other Operati ng . . . . . . . 114,600 113,800 800 118,500 91,000 Capital Outlay. . . . . . . . - - - - 1,200 Tota l Exe cut ive. . . . . . 554,500 553,100 1,400 557,800 509,200' Financial and Administrative Treasurer-Clerk Personal Services . . . . . .. 277,200 302,200 (25,000F 302,'200 272',000 Other Operati ng . . . . . . . 129,100 114,500 14,600 102,100 74,600 Capital Outley. . . . . . . . -6,900 6,600 300 4,200 1,200 413,200 423.300 (10,100) 408,500 347,800 Management and Budget Personal Services . . . . . . 514,500 424,600 89,900 424,600 503,400 Other Operat i ng . . . . . . . 157,800 130,900 26,900 128,300 122,900 Cap i ta l Out l ay. . . . . . . . 19,000 18,000 1,000 1,300 8,300 691.300 573,500 117,800 554,200 634,600 Records Manaaement Personal Services . . . . . . 126,200 123,300 2,900 .128,000 106,500 Other Operati ng . . . . . . . 146,700 118,600 28,100' 119,200. '114,900 Capital Outlay. . . . . . . . 19,800 16,300 3,500 13,500 - 292,700 258,200 34,500 260,700 221,400 Communication Personal Services . . . . . . -- -- -- -- 266,700 Other Operating . . . . . . . -- -- -- -- 61,400 Cap ital Out l ay. . . . . . . . -- - - - 8,800
-- - - - 336,900 Real Estate Control Personal Services . . . . . . 92,400 94,200 (1,000) 94,200 --
Other Operati ng . . . . . . . 14,400 8,200 6,200 8,600 -- 400 400 -- 400 - Capital Outlay. . . . . . . . _ 107,200 102,800 4,400 103,200 -- The accompanying notes are an Integral part of ttiese financial stabuents. C-5
. CITY OF TALLAHASSEE, FLORIDA GENERAL' FIM)
SCHEDULE OF EXPEIE)ITIRES (Continued) Fiscal Year Ended September 30 1988 1987 variance-Budgetary Favorable Budget Basis (Unfavorable) ' Actual Actual General Services Personal-Services . . . . . . $ 118,500 5 122,000 $ (3,500) 1- 122,000 5 112,600 Other Operati ng . . . . . . . 130,500 130,700 (200) 130,700 75,000 Capital Outlay. ....... - - - - 2,900 249,000 252,700 (3,700) . 252,700 190,500 Internal Audit ~ Personal Services . . . . . . 150,300 147,800 2,500- 147,800 '134,600 Other Operati ng . . . . . . . 37,900 34,900 3,000 27,100 25,000 Capital Outlay. . . . . . . . - - - - 1,000 188,200 182,700 _ _ _ 5,500 174,900 '160,600-Arch ives Personal Services . . . . . . 88,800 81,800 7,000 -81,800' 81,500 Other Operati ng . . . . . . . 19,200 16,700 2,500 16,600- 12,300 Cap ital Ouilay. ....... - - - - 17,800 108,000 98,500 9,500 98,400 111,600 l I Total Financial and , Administrative. . . . . . . 2,049,600 1.891.700_ 157,900 l',852,600 2,003,400' Legal 'j [ Personal Services . . . . . . 129,200 - 128,400 800 128,400 121,600 ) Othe r Operati ng . . . . . . . 479,900 480,400 (500) 543,800 344,500 Capital Outlay. . . . . . . . - - -- - 300 Total Legal. . ....... 609.100 606,800 300 672,200 466,400 1 Planning ! Personal Services . . . . . . 1,057,800 988,500 69,300 988,500 956,100 Other Operating . . . . . . . 275,100 201,200 73,900 201,200 203,600-Capital Outlay. . . . . . . . 5,400 600 4,800 1,200 18,100 Tot a l Pl m n n i ng . . . . . . . 1,338,300 1,190,300 148,000 1,190,900 1,177,800 Other General Government Llalson Of fice Personal Services . . . . . . 79,800 P1,000 (200) ,80,000 73,800 , Other Operat ing . . . . . . . 41,300 40,700 600 44,600 39,800 l Capital Outlay. . . . . . . . 2,200 2,200 - - 600 123.300 122,900 400 124,600 114,200 Public Works Administration Personal Services . . . . . . 247,700 244,100 3,600 244,100 207,300 Other Operat i ng . . . . . . . 625,000 535,600 89,400 534,800 815,400 : Capital' Outlay. . . . . . . . 5,900 5,900 - - - l l 878,600 785,600 93,000 778,900 1,022,700 l C-6 The accompanying notes are an Integral part of these financia.l. statements. .
.-___.-___________m________________.__ _
CITY OF TALLAHASSEE, FLORIDA GENERAL FtNe SCHEDULE OF EXPEM)1TURES (Continued) Fiscal Year Ended September 30 1988 1987 VarIonce-Budgeta ry Favorable Budget Basis (Unfavorable) Actual Actual Non-Departments l Other Operating . . . . . . . 5 800,800 5 768,300 5- 32,500 5 683,000 5 448,700 1 Code Enforcement Board Personal Services . . . . . . 25,100 25,100 -- 25,100 23,000 Other Operati ng . . . . . . . 3,600 3,600 - 3,600 15.100 28,700 28,700 - '28,700 38,100 City Hall Maintenance Personal Services . . . . . . 203,600 216,300 _ (12,700) 216,300 202,600 Other Operating . . ..... 590,500 551,000 39,500 565,900 498,700 Capital Outlay. . . . . . . . 6,500 6,200 300- 5,800 1,700 800,600 773,500 27,100 788,000 703.000 Total Other General Government. ........ 2,632,000 , 479,000 153,000- 2,403,200 2.326.700 Total General Government . 7,402,800 6,935,800 467,000 6,890,000 6,660,900 Pubile Safety: Law Enforcement Persona l Services . . . . . . 10,368,500 10,279,900 88,600- 10,279,900 8,691,800 Other Operat i ng . . . . . . . 2,932,800 2,534,300 398,500. '2,524,900 1,940,500 Capital Outlay. . . . . . . . 216,000 228,500 (12,500) 266,700 81,300 Total Law Enforcement. ... 13,517,300 13.042,700 474,600 13,071,500 10,713,600 l Fire Control j Personal Services . . . . . . 6,049,300 6,128,600 (79,300) 6,128,600 5,666,200 ' Other Operat! ng . . . . . . . 850,000 763,200 86,800 791,900 759,600 1 Capital Outlay. . . . . . . . 1,501,700 1,483,700 18,000 165,400 106,500 l To ta l F i re Contro l . . . . . 8,401.000 8,375,500 25,500 7,085,900 6,532,300 l Protective inspection Bullding Inspection Pecsonal Services . . . . . . 637,800 622,500 15,300 622,500 565,800 Ot he r Operat i ng . . . . . . . 100,900. 104,000 (3,100) 103,400 62,000 l Capital Outlay. ....... 4,000 800 3,200 200 1,700-
)
742,700 727,300 15,400 726,100 629,500 l l The accompanying notes are an Integral part of these financial statements. C-7 I i
i l CITY OF TALLAHASSEE, FLORIDA 1 GENERAL FIM) - l SCHEDULE OF DPEM)1TURES ; (Continued) :l I Fiscal- Year Ended September 30 1988 1987 Var iance. Budoetary Favorable Budoet Basis (Unfavorable). Actua l Actua l Code Enforcement .
-Personal Services. . . . . . $ 249,500 $ '224,900' $ 24,600 $ '224,900 $- L215,300 Other. Operat i ng. . . . . . . 36,600- 35,200 1,400 35,200 22,400 286.100 260,100 26,000 260,100 237,700 Total Protective Inspection 1,028,800 987,400 41,400, 986,200 ,
867,200 Total Public Saf ety. . . . 22,947,100 22,405,600 541,500 21,143,600 18.113.100 Transportation , Road and Street Facilities l Street Lighting Personal Services . . . . . 32,300 40,700 (8,4 00)' 40,700 '41,700 Other Operat i ng . . . . . . 698,800 795,800 (97,000) 79 5,800 ~ ,, 666,700 731,100 836,500 (105.400) 836,500 708,400 Right-Of-Ways 'd Personal Services . . . . . 1,278,300 1,238,400 39,900 1,238,400. 1,170,000 ; Other Operating . . . . . . 528,300 391,600 136,700 429,300 320,200 , I Capital Outlay. . . . . . . 54,700 53,300 1,400 51,900 122,900 1,861,300 1.683,300 178,000' 1,719,600 1,613,100
. Streets Personal Services . . . . . 1,385.400 1,342,900 42,500 1,342,900 1,866,600 Other Operating . . . . . . 1,506,300 1,372,900 133,400 1,393,400 .1,021,500 Capttal Outlay. . . . . . . 90,900 90,000 900 12,500 381,500 ;
2,982,600 2,805,800 176,800 2,748,800 3,269,600 Traf fic Engineering Personal Services . . . . . 892,900 .900,300 (7.400) . 900,300 808,800 Ot he r Operat i ng . . . . . . 633,800 624,100 9,700 638,700 498,400 Cap ital Outlay. . ..... 44,200 43,200 1,0 00,' 12,000 29,7 00 1,570,900 1,567.600 3,300 1,551,000 1,336,900 Total Road and Street Facilltles. . . . . . . . 7,145,900 6,893,200 252,7n0 '6,855,900 6,928,000 l Perking Facilities . Other Operating . . . . . . 160,000 122,800 37,200 122,800 12'J,7 00 Tota l Transportation. . . . 7,305,900 7,016,000 289,900 6,978,700 7,053,700 l l y C-8 The accompanying notes are an integral part of these financial statements.. l i b
CITY OF TALLAHASSEE, FLORIDA j GENERAL FUW SCHEDULE OF EXPE E ITURES (Continued)- t 1
]
Fiscal Year Ended September 30 - 1988 '1987 verlance-
. Budgetary Favorable Budoet Basis (Unfavorable) Actual Actual Human Services; Smlth-WlIiIams f. enter
$ 71,000 $ 71,600 $ (600) $ 71,600 $ 70,300 l Personal Services. . . . . .
Other Operati ng. . . . . . . 40,500 36,600 '3,900 -36,100 36,400 ! Capital Outlay . . . . . . . 1,700 1,700 - 1,700 800. 113,200 109,900 3,300 109,400 107,500 l Senior Cit tren Center Personal Services. . . . . . 136,600 134,800 1,800 134,800 127,000 Oth er Operati ng. . . . . . . 52,900 48,500 4,400 48,500 42,400 Cap ita l Out i ay . . . . . . . 600 500 100 500 200 190,l00 183,800 6,300 183,800 169,600 l Linco!n Center Personal Services. . . . . . 95,100 93,600 1,500 93,600 87,900 r/the r Operati ng. . . . . . . 76,400 78,800 (2,400) 78,500 74,300 Capital Outlay . . . . . . . 900 (100) 1,000 900 400 172,400 172,300 100 173,000 162,600 Admi n istrat ion Personal Services. . . . . . 165,400 146,600 18,800 146,600 158,600' Other Operati ng. . . . . . . 397,100 393,500 3,600 393,600 390,500-Capital Outlay . . . . . . . -- - - 600 300 562,500 540,100 22,400- 540,800 549,400 Total Human Services . . . 1,038,200 1,006,100 32,100 1,007.000 989.100 l i Economic Environment: I Industry Development Minority Business Of fice Personal Services. . . . . . 79,200 80,700 (1,500) 80,700 69,600 Other Operati ng. . . . . . . 12,100 12,600 (500) 12.500 13,800 91,300 93,300 (2,000) 93,200 83,400 Housing and Urban Development Personal Services. . . . . . 102,000 104,400 (2,400) 104,400 122,900 1 Othe r Operat i ng. . . . . . . 80,700 75,700 5,000 75,900 58,400 l 182,700 180,l00 2,600 180,300 -181,300 273,400 600 273,500 264,700 l l Total Economic Environment 274,000 The accompanying notes are an integral part of these financial statements. C-9
CITY OF TALLAHASSEE, FLORIDA ' d GENERAL FUND 'I SCHEDULE OF EXPEleiTLRES (Continued) l Fiscal Year Ended September 30 1988 1987 verlance-Budgetary Favorable Budget Basis (Unfavorable) Actual Actual' Physical Environment: Solid Waste Personal. Services . . . . . 5 -- $ - 5 -- $ -- 5 2,572,400 Other Operating . . . . . . -- -- - -- 3,298,600 Capital Outlay. ...... - - - - 585,700
-- - - - 6,456,700 l
l Cemeteries Personal Services . . . . . 115,000 103,700 11,300 103,700 156,300 Other Operati ng . . . . . . 126,400 110,600 15,800 112,000' .86,600 Capital Outlay. . . . . . . - - - 200 24,900 241,400 214,300 27,100 215,900 267,800 Engineering Personal Services .'. . . . 694,700 585,100 109,600 585,100 657,000' Other Operati ng . . . . . . 131,500 127,600 -3,900 136,700 102,800 Capital Outlay. ...... 41,600 41,200 400 18,100 32,400 a 867,800 753,900 113,900 739,900- 792.200 Total Pnysical Environment 1,109,200 968,200 141,000 955,800- 7,516,700 l Culture and Recreation: '1 Administration . Personal Services. . . . . . 407,600 411,600 (4,000) 411,600 412,600' i Othe r Operat i ng. . . . . . . 339,800 315,300 24,500 318,400 370,400 1' Capital Outlay ....... 200 200 - 200 2,200 747,600 727,100, 20,500 730,200 785,200
&ounds and Facilities ]
Personal Services. . . . . . 1,155,000 1,055,500 99,500 1,055,500 945,300 Other Operating. . . . . . . 559,200 580,700 (21,500) 593,100 456,600 , Capital Outlay . . . . . . . 119,400 95,200 24,200 69,600 27,500 1,833,600 1,731,400 102.200 1,718,200 1,429,400 q Recreation Personal Services. . . . . . 964,300 953,600 10,700 953,600 890,400 Other Operating. . . . . . . 273,900 255,800 18,100 257,900 262,700. Capital Outlay . . . . . . . 18,400 16,900 1,500 24,100 18,300 q 1,256,600 1,226,300 30,300 1.235,600 1,171,400
-l l ..
l C-10 The accompanying notes are en Integral part of thes,a tinencial. statements. l I .
i s 1 1 l CITY OF TALLAHASSEE, FLORIDA J GENERAL FUND : ; 1 SCHEDULE OF EXPEM)1TURES 0 (Continued) l Fiscal Year Ended September 30 j 1988 1987' Ver l an ce- - Budgetary Favorable Budget Basis- '(Unfavorable) Actua l Actua l l i Athletics-Personal Services. . . . . . $ 461,900 $ 460,100' .5 1,800 $~ 460,100 $ 426,500 Other Operat i ng. . . . . . . 230,200 245,400 (15,200) 259,900 :196,100' Cap ital Outlay . ...... -- -- -- -- 600 692,100 705,500 (13,400) 720,000 623,200 l 1
' Golf Courses-Personal Services. . . . . . -- -- -- -- 396,200 Ot he r Ope ra t i ng . . . . . . . -- -- -- -- 294,500 Capital Outlay . . . . . . . -- -- -- -- 20,000
-- -- .- -- 710,700 Total Culture and Recreation . . . . . . . . 4,529,900 4,390,300 139,600 4,404,000- 4,719,900
)
Tota l Expend itures. . . . . 544,607,100 542,995.400 5 1,611,700 541,652,600 545,318,100 .
'1.
l 1 1 i f I l r The accompanying notes are an Integral part of these financial statements. C-11 l 1
l CITY OF TALLAHASSEE, FLORIDA GENERAL. FUIO I SCHEDULE OF OPERATING TRANSFERS 3 Fiscal Year Ended September 30 1988 1987 i variance j Favora b le Bud oet ' Actual (Unfavorable) Actual l Operating Transfers in:
$22,145,500 Electric Fund. ...,....... $ ' 24,070,000 ' $ 24,070,800 $- -
Water Fund . . . . . . ... . . . . .. 1,344,700 1,344,700 -- 1,245,400 Gas Fund . . . . . . . . . . . . . . 1,039,700 1,039,700 -- 984,300 Stormwater Management Fund . . . . . -- -- - 1.024,500' Total Operating Transfers in . . . $ 26,455,200 $ 26,455,200 $ - $25,399,700 Operating 1rensfers Outt Capital improvement Fund . . . . . . $ .6,183,600 $. 9,466,600 $(3,283,000) -$ 8,252,000 Tallahassee Transit Fund . . .'. . . 2,028,100 1,776,700 251,400 1,447,500 Deficiencies and Emergencies Fund. . -- -- -- 570,500 - Gbif Course Fund . . . . . . . . . .- 272,100 232,500 39,600 -- Debt Service Fund. . . . . . . . . . 2,741,000 2,772,800 (31,000) 2,737,000 Stormwater Management Fund . . . . . 942,400 785,500 156,900 -- l Risk Management Fund . . . . . . . . -- --
.-- 340,800 j Sewer Fund . . ........... 3,800 -- 3,800 13,000 Data Processing Fund . . . . . . . . 7,800 7,800 -- 3,300 Capital Donds Construction Fund. . . -- -- -- 785,500 Special Projects Fund. . . . . . . . 68,800 68,800 -- -
So l id Weste Fund . . . . . . . . . . 1,995,600 1,524,100 471,500 -- Total Operating Transfers Out. .. 1 14,244,000 1 16,634,800 $(2,390,800) 114,151,600 1 I i l 1 0-12 The accompanying notes are an Integral part of these ifr.sacial statements. 1 L
SPECIAL REVENUE FUNDS Special Projects Fund-to account for Federal, State, local and other I revenues that are to be used 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 Florida Statutes. 1 1 ; 4 e l l i I e
CITY OF TALLAHASSEE, FLORIDA SPECIAL REVENUE FUM)S COBINING BALANCE SHEET September 30, 1988 Law Tot a ls Special Stormwater Enforcement Sept ember September Pr ojects Managemen; Forfeiture 30, 1988 30, 1987 ASSETS Cash. .... ......... $ 44,500 $ -- $ -- 1 44,500 $ 27,000 Eau l ty i n f5ol ed Cash . .... 232,600 637,500 66,700 936,800 397,600 Notes Receivable. ....... 205,000 -- -- 205,000 131,400 Accounts Receivable . ..... 194,000 69,700 - 263,700 306.200 To ta l As sets. . . . . . . 1 676,100 $ 707,200 $ 66,700 $1,450,000 $ 862,200 LI ABILITIES AND FUND BALANCES Liabilities: Accounts Payable. ...... 5 6,100 $ -
$ -- $ 6,100 $ 7,000 Total Liabilities . . . . 6,100 - -
6.100 7,000 i fund Balances: Reserved for: l Pr oj e ct s . . . . . . . . . . . -- 764,100 18,900 783,000 27,300 l Stes Receivable. . . . . . . 205,000 -- -- 205,000 131,400 l Community and Rehabilitative Tru st. ........... 44,500 - - 44,500 27,000 Tota l Roserved. . . . . . 249,500 764,100 18,900 1,032,500 185,700 Unreserved /Undesignated. . . . 420,500 (56,900) 47,800 411,400 669,500 Total Fund Balances . . . 670,000 707,200 66,700 f ,44 3,900 855,200 Total Liabilities and Fund Balances. . . . . . $ 676,100 $ 707,200 $ 66,700 $1,450,000 $ 862,200 1 i l l The accompanying notes are en Integral part of these financial statements. C-15
l l i CITY OF TALLAHASSEE, FLORIDA ! 1 SPECIAL REVENUE FUES .J COMllNING STATEMENT OF REVENUES, EXPENDITURES AM) CHANGES IN FUW BALANCES For the Fiscal Year Ended September 30, 1988 Law Tota ls Spec ial Stormwater Enforcement September Septem>.- .j Projects Manaceme nt Forf eitur e 30, 1988 30, 1987 / Revenues Intergovernmental Revenues . . . . 51,578,000 5- -- 5 ' -- $1,578,000 52,087,500 l Charges for Servlees . . . . . . . -- 1,527,900 -- 1,527,900 1,024,500 ; Fines and Forfelts . . . . . . . . -- -- 44,400 44,400 35,000 ' in terest Ea rned . . . . . . . . . . 10,200 14,900 4,800 29,900 8,700 i Miscel laneous Revenues . . . . . . 97.500 - - 97,500 25,300 Tota l Revenues . . . . . . . . . 1,685,700 1,542,800 49,200 3.277,700- 3,181,000 Expenditures Current: General Goverte,ent ........ 121,100 - -- 121,100 227,000 Public Safety. . . . . . . . . . . 20,800 -- 30,600 51,400 32,000 Transportation . . . . . . . . . . 49,000 -- -- 49,000 333,400 Human Ser v i ces . . . . . . . . . . 551,800 -- -- 551,800 545,800 Economic Environtrent ....... 1,155,200 - -- 1,155,200 944,500 s Physical Environment . ...... 40,600 2,274,600 -- 2.315,200 100 Cultural and Recreation. ..... 8,000 -- - 8,000 7,300 ; Cap i ta l Out l ay. . . . . . . . . . . -- - - - 10,400 Total Expenditures . . . . . . . 1,946,500 2,274,600 30,600 4,251,700 2,100,500 Excess of Revenues Over (Under) Expenditures . . . . . . . . . . (260,800) (731,800) 18,600 (974,000) 1,080,500 Other Financing Sources (Uses): Operating Transfers in . . . . . . 123,700 1,380,600 -- 1,504,300 58,200 Operating Transfers Out. ..... -- (5,000) - (5,000) (1,025,100) Total Other Financing Sources (Uses) ,, . . .......... 123.700 1,375,600 - 1,499,300 (966,900) Excess of Revenues and Other Sources (Under) Expenditures and Other (Uses) .......... (137,100) 643,800 18,600 525,300 113,600 Fund Balances - October 1. . . . . . 807,100 -- 48,100 855,200 741,600 Residual Eaulty Transf et ...... - 63,400 ,
- 63,400 -
Fund Balances - September 30.... 5 670,000 $ 707,200 5 66,700 51,443,900 $ 855,200 C-14 The accompanying notes are an Integral part of these finer :lal statements.
l l 1 DEBT SERVICE FUND To account for the accumulation of resources for, and the payment of general long-term debt principal and interest. 1 I l l
-m.<
q CITY OF TALLAHASSEE. FLORIDA DEBT SERVICE FUf0 q BALANCE SHEET September 30 1988 1987-ASSETS i Eaulty in Pooled Cash. .................. 5 3,480,800 3 3,465,700 - 4,460,400 3,210,100. I Investments ....................... 1 Accrued Interest Receivable. .............. 132,700 95,600 Deposits . . . . . . . . . . . . . . . . . . . . . . . . 55,800 54,200 5 8,129,700 $ 6,825,600-Total Assets. . . . . . . . . . . . . . . . . . . . . LI ABILITIES AW FUND BALANCES I Liabilltles: Ac cru ed I n t ere s t Pa y a b l e . . . . . . . . . . . .~ . . . . 5 10,700 5 - Tota l L l a b i l i t i es . . . . . . . . . . . . . . . . . . . 10,700 -- i i Fund Balance: l Reserved for Current Debt Service . . . . . . . . . . . . . . . . . _399,800 395,500 ; F ut ur e De bt Ser v i c e . . . . . . . . . . . . . . . . . . 7,719,200 6,430,100 ; Total Reserved. . . . . . . . . . . . . . . . . . . . 8,119,000 6,825,600- ; Total Llabliltles and ! F u n d B a l a nce . . . . . . . . . . . . . . . . . . . . . 5 8,129,700 5 6,825,600 i DEBT SERVICE FUle STATEMENT OF REVENUES, EXPElelTURES I Ale CHANGES IN FUfe BALANCE i Fiscal Year Ended September 30-1988 1987 Revenue: Interest Earned. . . . . . . . . . . . . . . , . . . . 5 410,800 5 223,000. i Expenditures: Debt Service: Principal Retirement . ................ 25.900 2,014,600 Interest and F isca l Charges. . . . . . . . . . . . . . . 2,201,800 2,244,600 Total Expenditures . . . . . . . . . . . . . . . . . 2.227,700 4,259,200 Excess of Revenues (Under) Expend itures. . . . . . . . (1,816,900) (4,036,200) Other Financing Sources (Uses): , Debt Proceeds .....'............... '
-- 2,000,000-Operati ng Trans f ers in . . . . . . . . . . . . . . . . 3,110,300 3,223,500 Total Other Financing Sources (Uses) ........ 3,110,300 5,223,500 Excess of Revenues and Other Sources Over Expenditures and Other Uses . . . .. . . . . . . . . . 1,293,400 1,187,300 F und Ba la nc e - Octobe r ' l . . . . . . . . . . . . . . . . 6,825,600 5,638,300 Fund B alance - September 30. . . . . . . . . . . . . . . 5 8,119,000 5 6,825,600 The accompanying notes are'an latogral part of these financial statements. C-15 W-_-_-__--_______.___.
THl3 PAGE INTENTIONALLY LEFT SLANK-1
/
1 1 i i l i CAPITAL PROJECTS FUNDS
.1 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. 1 1 l a
CITY OF TALLAHASSEE, FLORIDA CAPITAL PROJECTS FUWS C0mlNING BALMCE SHEET September 30, 1988 Capital Tota ls Capital Bonds September September improvement Construction 30, 1988 30, 1987 i l ASSETS Equity in Pooled Cash. .... $30,364,200 $ 8,498,900 $38,863,100 $36,830,100 Accounts Receivable. ..... 172,500 -- 172,500 296,900 Accru ed Interest Receivable. . 130,800 -- 130,800 128,500 Special Assessment Receivable Current ........... 227,600 -- 227,600 225,000 Osterred. . . ........ 473,800 -- 473,800 703,900 Total Assetc . . . . . . . $31,368,900 $ 8,498,900 $39,R67,800 $38,184,400 LI ABILITIES AND FUND BALANCES Liabilities: Accounts Payable . . . . . . $ 461,600 $ 26,100 $ 487,700 $ 71,800 Retalnage Payable. . . . . . 81,400 101.100 182,500 279,700 De f erred Revenue . . . . . . 473,800 - 473,800 703,000 Tota l Liabilities. . . . . 1,016,800 127,200 1,144,000 1,055,400 Fund Balances: Reserved for! Encumbrances . . . . . . . . 2,031,400 2,348,800 4,380,200 2,397,100 Proj ects . . . . . . . . . . 21,117,400 5,453,900 26,571,300 21,600,500 Total Reserved . ..... 23,148,800 7,802,700 30,951,500 23,997,600 Unreserved /Undesignated . .. 7,203,300 569,000 7,772,300 13,131,400 Total Fund Balances. . . . 30,352,100 8,371,700 38,723,800 37,129,000 Tota l Llab111tles and Fund Dalances . . . . . . $31,368,900 $ 8,498,900 $39,867,800 $38,184,400 The accompanying notes are an integral part of these financial statements. C-17
CITY OFTALLAHASSEE, FLORIDA CAPITAL PROJECTS FUM)5 COM31NING STATEMENT OF REYENUES, EM*EM)lTIRES AM) CHANGES IN FUND BALANCES . For the Fiscal Year Ended September 30, 1988 Capital Totals Capital Bonds September September improvement _ Construction 30, 1988 30, 1987 Revenues . Special Assessment Revenue. . ... 1 231,6d0 $ --- $ 231,600 $ 336,300 l Intergovernmental Revenue . . ... 28,200 -- 28,200 -- ! Interest Earned . ......... 2,141,400 '639,800 2,781,200 2,712,600 Miscel laneous Revenue . . . . . . . 444,700 500 445,200 35,800 70tal Revenues. . . . . . . . . . 2,845,900 640,300 3,486,200 3,084,700 Expenditures Current General Covernment. ........ 941,300 -- 941,300 82,500 Pub l i c Sa f ety . . . . . . . . . . . 22,000 -- 22,000 87,600 Trans portation. .......... 5,480,900 1,008,300 6,489,200 6,306,600 Huma n Se r v i ce s . . . . . . . . . . . 81,600 -- 81,600 118,300 Economic Environment. ....... 170,300 -- 170,300 149,700 Physica l Environment. ....... 91,200 -- 91,200 23,500 Cu l ture and Recreation. . . . . . . 466,100 1,400 467,500 247,100 Capital Outlay . . . . . . . . . . . 2,845,000 979,400 3,824,400- 7,952,000 Total Expenditures . . . . . . . . 10.098,400 1,989,100 12,087,500 14,967,300 Excess of Revenues Over (Under) Expenditures . . . . . . . (7.252,500) (1,348,800) (8,601,300) (11,882,600) Other Financing Sources (Uses): Proceeds from Sale of Property. .. 7,600 -- 7,600 319,200 Operet t nq Trans f ers in. . . . . . . 11,616,700 1,777,800 13,394,500 14,201,000 Operating Transfers Out . . .. .. (2.564,500) (641,500) (3,206,000) (399,200) Total Other Financing Sources (Uses) . ............ 9,059.800 1,136,300 10,196,100 14.121,000 Excess of Revenue and Other Sources Over (Under) Exponeltures and Other Uses . . 1,807,300 (212,500) f,594,800: 2,238,400 Fund Ba lances - October 1. . . . . . 28,544.800 8,584,200 37,129,000 34,890,600 Fund Balances - September 30. . . . . $30,352,100 $ 8.371,700 $ 38,723,800 $37,129,000 C-f8 The accompanying notes are en integral part of these financial statements.
i; ENTERPRISE FUNDS i Electric Fund-to account for the assets, operation and maintenance of the City-owned electric system. Gas Fund-to account for the assets, operation and maintenance of the City-owned gas system. Sewer Fund-to account for the assets, operation and maintenance of the City-owned sewer system. Water Fund-to account for the assets, operation and maintenance of the City-owned water system. Airport Fund-to account for the assets, operation and maintenance of the municipal airport. Tallahassee Transit Fund-to account for the assets, operation and maintenance of the City's mass transportation system. Solid Waste Fund-to account for the assets, operation and maintenance of the City's solid waste operation. Golf Course Fund-to account for the assets, operation and maintenance of the City's golf courses. _ _ _ _ _ _ _ _ J
f l I i TH I S PAGE INTENTIONALLY LEFT ? LANK q l i i 1 i
)
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FIM)S COMBINING BALANCE SHEET September 30, 1988 Electric Gas Sewer Water ASSETS Current Assets: Cash . . . . . . . . . . . . . . . . . . $ 97,700 $ $ $ - Equity In Pooled Cash. . . . . . . . . . . 19,504,600 783,500 224,600 .165.500 Receivables: Customers. . . . . . . . . . . . . . . 8,843,500 572,600 962,400 624,600 Accounts . . . . . . . . . . . . . . . 1,944,000 800 46,000 12,300 ; Less Allowance for Doubtful Accounts (1,263,500) (79,900) (109,000) (74,400) i i n ve n to r y . . . . . . . . . . . . . . . . 8,663,900 95,700 - - Total Current Assets. . . . . . . . . 37,790,200 1.372,700 1,124,000 1,028,000 Restricted Assets: Equity In Pooled Cash. ......... 67,539,700 3,581,800 24,444,200 15,632,300 l Cash w ith Fi sca l Agent . . . . . . . . . Notes Rece iva b le . . . . . . . . . . . . 3,013,900 - - -
)
Accounts Rece i vab l e. . . . . . . . . . . 350,700 - - -- Total Restricted Assets . . . . . . 70.904,300 3,581,800 24,444,200 15,632,300 Other Assets: Unamortized Bond issue cost. . . . . . . 546,200 - 61,000 18,400 Unamortized Loan issue Cost. . . . . . . - - 89,700 76,600 Total Other Assets. . . . . . . . . 546,200 - 150,700 95,000 l Flxed Assets: Fixed Assets - Cost . . . . . . . . . . . 239,617,500 9,519,700 79,409,300 34,364,800 l 1.e s s: Accumulated Depreciation . . . . . (102,953,400) ( 4,018. X)0) (17,697,000) (10,463,800) 7,315,800 2,940,100 Construction In Progress. . . . . . . . . 46,387,600 770.800 Flxed Assets - Net. . . . . . . . . . . 183,051,700 6,281,200 69,028,100 26,841,100 To ta l A s se ts. . . . . . . . . . . . . . $292,292.400 $11,235,700 $94,747,000 $43,596,400 l l r 1 l l
, D-2 The accompanying notes are an Integral part of these financial statements.
i CfTY OF TALLAHASSEE, FLORIDA ; ENTERPRISE FUNDS COMBINING BAUW& SHEET September 30, 1988 (Continued) Totals Tallahassee Solid Golf September September ! Airport Transit Wa ste Course 30, 1939 30, 1987 l
$ 1,000 $ 2,900 $ -
$ 101,600 $ 45,200 485,600 792,500 54,500 9,400 22,320,200 11,997,100 150,700 87,100 448,000- -. 11,688,900 10,634,400 217,000 19,500 107,600 100 2,347,300 886,200 l (40,600) - (31,300) - (1,598,700) (1,112,400) I 95,000 287,000 - 35,900 9,177,500 ' 9,163,900 908,700 1,189,000 578,800 45,400 44,036,800 31,614,400 20,513,300 - - - 131,711,300 120,252,600 1,226,300 - - - 1,226,300 --
-- - - - 3,013,900 2,119,300 536,600 - - - 887,300 339,700 22,276,200 - - - 136,838,800 122,711/JO 421,300 - - -
1,046,900 690,000
- - - - 166,300 172,200 421,300 - - - 1,213,200 862,200 18,995,500 11,160,200 1,85A 300 1,645,200 396,564,500 378,543,800 (7,011,100) (3,183,900) (1,379,700) (225,500) (146,932,700) (134,145,900) 6,117,300 686,300 - - 64,226,900 52,890,700 18,101,700 8,662,600 472,600 1,419,700 313,858,700 297,288,600 l $ 41,707,900 $ 9,851,600 $ 1,051,400 $ 1,465,100 $ 495,947,500 $ 452,476,800 l
J l The accompanying notes are an Integral part of these financial statements. D-3
CITY OF TALLAHASSEE FLORIDA 3 ENTDPRISE FUNDS
' COMBINING BALAN SHEET September 30, 1988 (Continued) l i
Electric Gas Sewer Water LI ABILITIES AND FUto EQUITY Current Liabilities: Accounts Payable. ............. $ 9,396,500 $ 371,700 $ 20,000 $ 200 Customer Con tracts Payab le. . . . . . . . . 8,400 - 284,300 226,300 Cu stome r Ad va nce s . . . . . . . . . . . . .
- 3,300 - -
Due to Other Funds. . . . . . . . . . . . . Utility Deposits Payable. ......... 6,293,000 125,600 - 306,300 Loan from Municipal' Retirement Fund . . . . - - - - Total Current Liabilltles. . . , , . . . . 15,697,900 500,600 304,300 532,800 Payable from Restricted Assets: Accrued Interest and Commissions Payable. .
- - 46,600 39,700 Retalnage and Accounts Payable. . . . . . . 364,700 - 13,500 87,900 j Total Payable from Restricted Assets . . . 364,700 - 60,100 127,600 Other L1 abilities:
Advance From Other Funds. . . . . . . . . . - - 500,000 - De f erred Reve nue. . . . . . . . . . . . . . 365,400 - - -- Customer Contracts Payable. . . . . . . . . 110,900 - 1,395,800 1,288,000 Customer Advances . . . . . . . . . . . . . 130,600 - 33,300 9,100 Accrued Leave . . . . . . . . . . . . . . . 1,122,000 89,100 323,400 140,500 Loan Payable. . . . . . . . . . . . . . . . - - 8,617,400 ,,417,900 Bonds and Notes Payable . . . . . . . . . . 106,073,300 96,500 15,865,200 6,473,300 Less Bond 01 scoun t. . . . . . . . . . . . (2,020,700) - (46,600) (29,800) Loan from Municipal Retirement Fund . . . . Tota l Other Llabli t tle s. . . . . . . . . . 105,781,500 185,600 2a,588,500 15,299,000 Total Llobilltles. . . . . . . . . . . . . 121,844,100 686,200 27,052,900 15,959,400 l Fund Equity ' Contributed Capital . . . . . . . . . . . . 1,890,700 - 21,992,600 - Retained Enrntngs: Reserved . ............... 70,686,400 3,581,800 24,384,100 15,504,700.. Unreserved . . . . . . . . . . . . . . . . 97,871,200 6,967,700 21,317,400 12,132,300 Total Fund Equity . . . . . . . . . . . . 170,448,300 10,549,500 67,694,100 27,637,000 Total Liabilities and Fund Equity . . . . $292,292,400 $11,235,700 $94,747,000 $4 3,596,400 l D-4 The accompanying notes are an Integral part of these financlel statements. w _ - ____-______ - ______________-_
CITY OF TALLAHASSEE FLORIDA - 3 ENTEIPRISE FUNDS CONBINING BALANCE SHEET Septe der 30, 1988 (Continued) Totals Tallahassee Solid Go lf September September Airport Transit Weste Course 30, 1988 30, 1987 5 142,800 $ 47,300 $ 198,500 $ 1,300 $ 10,178,300 .$ 7,486,600
-- - - - 519,000 352,100 11,700 19,800 - - 34,800 69,800 1,000' 2,900 - -
3,900 3,900
- - - - 6,724,900 5,674,900 '
.. - - - 37,900 155,500 70,000 198,500 1,300 17,460,900 13,625,200.'
741,300 - - - 827,600 72,500 367,900 - - - 834,000 657,700 1,109,200 - - - 1,661,600 730,200. 1,740,700 - - - 2,240,700 500,000
-- 7,300 - - 372,700 66,900
'2,794,700 2,659,400
-- - - - 173,000 .184,600 147,200 152,200 247,400 24,700 2,246,500 _1,841,400 16,178,000 16,035,300 1?,350,000 - - - 140,858,300 134,038,500 (214,100) - - - (2,311,200) (2,202,500)
- - - - - 186,000 14,023,800 159,500 247,400 24,700 162,410,000 153,452,300 15,288,500 229,500 445,900 26,000 181,532,500 167,807,700 20,292,400 9,679,300 788,300 1,492,000 56,135,300 54,482,100 12,445,400 63,300 - - 126,665,700 114,799,600 (6,318,400) (120,500) (182,800) (52,900) 131,614,000 115,387,400 26,419.400 9,622,100 605,500 1,439,100 314,415,000 284,669,100
$ 41,70),900 $ 9,851,600 $ 1,051,400 $ 1,465,100 $ 495,9 47,500 $ 452,4 76,800
)
I l The accompanying notes are an Integral part of these financial statements. D-5 I
CITY OF TALLAHASSEE, FLORIDA f ENTERPRISE FUNDS (X)MBINING STATEENT OF REVENUES, EFENSES NO , CHANGES IN RETAINED EARNINGS f For the Fiscal Tear Ended September 30, 1988 ] l E lectric Gas Sewer Water Operating Revenue: Charges for Services: Residential Sales. . . . . . . . . . 1 50,609,200 $ 2,467,900 $ 5,987,600 14,709,100 '! Commercial and Industrial Sales. . . 59,520,900 6,615,500 6,239,400 3,137,200 Public Street and Highway Lighting . 913,300 - - - Sa les for Resa le . . . . . . .... 3,921,400 - - -- Sa les to Other Funds . . . . . . . . 3,822,700 65,200 91,400 175,600 3urcharge. . . . . . . ....... 875,300 - 179,300 497,500 Tapping Fees . . . . . . . . . . . c - 14,000 151,100 418,800 i Sa l es o f Ga s an d O i l . . . . . . . . - - - -- l Landing and Tie Down Fees. . . . . . Late Fees. . . . . . . . . . . . . . 231,400 22,100 - 8,600 Initiating Service . . . . . . . . . 262,200 25,400 - 197,800 Rentals. . . . . . . . . . . . . . . 93,800 - - 52,500 Cut-I n s an d cu t-f ees . . . . . . . . 376,700 34,300 - 228,800 Golf Fees. . . . . . . . . . . . . . Transportation Fees. . . . . . . . . Other. . . . . . . . . . . . . . . . 172,100 5,400 217,700 212,100 Total Operating Revenues . . . . . 120,799,000 9,249,800 12,866,500 9,638,000, j Operating Expenses: Personal Services. . . . . . . . . . . 8,448,400 614,500 3,613,900 1,299,900 Fossil Fuel. . . . . . . . . . . . . . 32,604,700 - - -- Power Pur ch ase d. . . . . . . . . . . . 14,189,200 - - - Gas Purchased. ............ - 5,162,100 - -- Materials and Supplies . . . . . . . . 619,700 50,800 529,800 296,400 Con tractua l Services . . . . . . . . . 6,970,500 803,900 4,181,000 2,945,800 Other Expenses . . . . . . . . . . . . 4,4 3d,700 212,500 1,117,600 282,900 Less; Applied Equipment Charges . . . (19,500) (111,300) (138,800) (198,300) Depr ec i a t ion . . . . . . . . . . . . . 8,185,600 230,200 1,863,500 677,500 Amortization . . . . . . . . . . '.s. . 153,500 - 14,500 7,800 Total Operating Expenses . . . . . 75,588,800 6,972,700 11,181,500 5,312,000 Operating income (Loss). ..... 45,210,200 2,277,100 1,685,000 -4,326,000 D-4 The accompanying notes are an, Integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEENT OF REVENUES, EFENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30, 1988 (Continued) Total l Tallahassee Solid Golf September September l Airport Transit Waste Course 30, 1988 30, 1987 l 3 - $ 3,567,600 $ - $ 67,341,400 $ 61,670,100
-- - 2,989,500 - 78,502,500 70,982,400
- - - - 913,300 815,300 )
-- - - - 3,921,400 1,915,100 {
- - - - 4,154,900 4,054,900 l
-- - - - 1,552,100 1,227,300
- - - - 583,900 436,500 1,666,000 - - - 1,666,000 1,654,800 376,800 - - - 376,800 310,200 l
1 -- - - - 262,100 212,600
- - - - 485,400 420,900 2,357,900 - - -
2,504,200 2,413,400
- - - - 639,800 621,200
-- - - 795,000 795,000 -
1,458,50" - - 1,458,500 1,319,500 l l 140,500 - - 747,800 588,400 4,541,200 1,458,500' 6,557,100 795,000 165,905,100 148,642,600 1,264,700 2,576,800 2,537,100 548,300 20,903,600 16,852,500
- - - - 32,604,700 35,819,900
-- - -- - 14,189,200 12,080,500
- - - - 5,162,100 5,649,300 1,858,200 752,500 57,900 71,000 4,246,300 2,205,500 79,400 379,800 5,293,000 328,500 20,981,900 15,126,400 279,900 107,200 203,800 22,200 6,662,900 6,049,900
- - - - (467,900) (416,100) 602,100 489,500 172,200 48,400- 12,269,000 11,888,600 21,400 - - - 197,200 169,000 4,105,700 4,305,800 8,264,000 __ 1,018,400 116,748,900 105,425,500 435,500 (2,847,300) (1,706,900) (223,400) 49,156,200 43,217,100 The accompanying notes are an Integral part of these financial statements. D-7
CITY OF TALLAHASSEE, FLORIDA ENTERPRlSE FUNDS COMBINING STATEENT OF REVENUES, EN'ENSES AND CHANGES IN RETAfMED EARNINGS For the Fiscal Year Ended September 30, 1988 ) (Continued) l Electric Gas Sewer Water Nonoperating Revenues (Expensesh I n teres t Revenue. . . . . . . . . . . $ 7,333,000 $ 302,000 $ 1,851,500 $ 1,174,800 Gain on Sale of Surplus Property. . . 7,600 - - 200 Orant Revenue . . . . ........ Other Revenue . . . . . . . . . . . . 392,900 10,600 1,534,200 926,500 Interest and Commission Expenses. .. (9,540,900) (8,300) (1,559,500) (887,000) Cap i ta l i zed I n teres t. . . . . . . . . 2,010,000 - - -- l Loss on Sa le of Property. . . . . . . Other Expenses. . . . . . . . . . . . (2,121,000) (174,500) (32,400) (362,100) Total Nonoperating Revenues ! (Expenses). ............ (1,918,400) 130,800 1,793,800 852,400 { locome (Loss) Before Operating Transfers . . . . . . . . . . . . . 43,291,800 '2,407,900 3,478,800 5,178,400 Operating Transfers in (Out): l Operating Transfers in. . . . . . . . 415,300 9,900 36,000 71,300 i l Operating Transfers (Out) ...... (26,059,400) (1,066,400) (222,100) (1,386,300) ' Net income (Loss). ......... 17,647,700 1,351,400 3,292,700 3,863,400 Disposition of Net incomet (Increase) Decrease In Contributed
- - - ~
Capital. . . . . . . . . . . . . . . j Depreciation on Contributed Assnts. . - - 692,800 --
)
Het Increase (Decrease) In l Retained Earnings. . . . . . . . . 17,647,700 1,351,400 3,985,500 3,863,400 l Retained Earnings - Catober 1. . . . . 150,909,900 9,198,100 41,716,000 23,773,600 i Retained Earnings - September 30. . . . $ 168,557,600 $ 10,549,500 $45,701,500 $ 27,6 37,000 l I I I I l (>-8 The accxampanyIng notes are an Integral part of these financial statements.
1 crrY OF TALLAHASSEE, FLORIDA
]
ENTEFRISE FUM)S l COMBINING STATEMENT OF REVENUES, EFENSES AND ! OlANGES IN RETAINED EARNINGS for the Fiscal Tear Ended September 30, 1988 (Continued)- Totals , Tallahassee Solid Go lf -September September l Alrport Transit Waste Course 30, 1988 30, 1987 1 I
$ 1,295,800 $ -
- $ 11,958,100 $ 10,247,300 !
-- - - -- 7,800 7,600
- 678,500 - - 678,500 770,000 ]
200 - 400 2,864,800 4,068,700 (717,800) - - - (12,713,500) (12,032,500)
-- - -- - 2,010,000 -
- . (26,000) - - (26,000) (193,300)
(105,900) - - (2,500) (2,798,400) (1,449,700) i l 472,100 652,700 - (2,100) 1,981,300 1,418,100 907,600 (2,194,600) (1,706,900) (225,500) 51,137,500 44,635,200
- 1,936,600 1,524,100 233,000 4,226,200 1,532,000 (4,000) - - (60,400) (28,798,600) (27,470,300) 903,600 (258,000) (182,800) (52,900) 26,565,100 18,696,900 1
-- (160,000) - -- (160,000) (32,400) 514,200 480,600 - - 1,687,600 1,751,500 1,417,800 62,600 (182,800) (52,900) 28,092,700 20,416,000 4,709,200 (119,800) - - 230,187,000 209,771,000
$ 6,127,000 $ (57,200) $ (182,800) $ (52,900) $258,279,700 $ 230,187,000 l
The accompanying notes are an Integral part of these financial statements. D-9
-__-__-____-__-_a
l CITY OFTALLAHASSEE FLORIDA 3 ENTEIFRISE FulOS COMBINING STATEMENT OF QiANGES IN FINANCI AL POSITION For the Fiscal Year Ended September 30, 1988 l Electric Gas Sewer Water' Sources of Working Capital: Operations: Net income (Loss). ........... $ 17,647,700 $1,351,400 $ 3,292,700 $ 3,863,400 items Not Requiring (providing) 1 Working Capital: Depreciation. ............. 8,185,600 230,200 1,863,500 677,500 Amortization. . . . . . . . . . . . . . 153,500 - 14,500 7,800 Accre t ion . . . . . . . . . . . . . . . 1,224,800 - - - Accrue d Le a ve . . . . . . . . . . . . . 78,600 9,600 35,800 4,400 j Working Capital Provided by Operations . 27,290,200 1,591,200 5,206,500 4,553,100 Proceeds From the Sale of Bonds. . . . . - - - Increase In Customer Contract Payable. . 33,200 - 61,200 79,800 i ncrea se i n Loan . . . . . . . . . . . . Increase in Customer Advances. . . . . . - - - Increase In Deferred Revenue . . . . . . 315,800 - - --
- - - ~
Con tr ibu t ion s. . . . . . . . . . . . . . , increase in Advance from Other Funds . . - - - Increase in Payable from Restricted Assets. . . . . . . . . . . . . . . . . - - - . - 90,400 Retirement of Plant in Service . . . , . - - Total Sources of Working Capital. . . . 27,639,200 1,591,200 5,267,700 4,723,300 4 l a Uses of Working Capital: Acquisition of Fixed Assets. . . . . . . 13,100,800 910,500 3,734,900 3,569,300 Decrease in Customer Advances. . . . . . 27,100 - 19,500 3,900 Decrease in Deferred Revenue . ..... - - - Decrease in Bonds Payable. . . . . . . . 5,745,000 9,000 704,200 296,800 Increase in Bond Olscount. . . . . . . . - - - - Increase in Bond issue Cost. . . .... - - - - Increase In Loan issue Cost. ...... - - - - Decrease In Loan Payable . . . . . . . . - - 76,900 -- j increase in Restricted Assets. . . . . . 465,900 400,000 695,700 878,000 ] Con tr i but ion s. . . . . . . . . . . . . . Reduction of Loan from Municipal R e t i reme n t Fun d . . . . . . . . . . . . Decrease in Customer Contracts Payable . - - - -- Decrease in Payable from Restricted Assets. . . . . . . . . . . . . . . . . 233,600 - 26,700 65,800 Total Uses of Working Capital. . . . . 19,572,400 1,319,500 5,257,900 4,813,800 Net increase (Decrease) In ! Work ing Cap i ta l . . . . . . . . . . . . $ 8,066,800 $ 271,700 $ 9,800 $ (90,500) l D-10 The accompanying notes are an integral part of these financial statements.
l l CITY OF TALLAHASSEE, FLORIDA ..
)
ENTERPRISE FUNDS 00MBINING STATEMENT OF CHANGES IN FINANCI AL POSITION I For the Fiscal Year Ended September 30, 1988 I Totals September I Tallahassee Solld Go lf September Atrport Transit Wasto Course 30, 1988 30, 1987
$ 903,600 $ (258,000) $ (182,800) $ (52,900) $ 26,565,100 $ 18,696,900 602,100 489,500 172,200 48,400 12,269,000l 11,888,600 21,400 - - - 197,200 169,000 - ,
-- - - -- 1,224,800 1,118,000 l l
(14,400) 18,800 247,400 24,700 404,900 79,900 1,512,700 250,300 236,800 20,200 40,661,000 31,952,400 12,350,000 - - - 12,350,000 --
-- - - - 174,200 -
- - - - - 16,178,000
-- - - - - 15,400
- - - - 315,80') --
-l 577,800 322,800 788,300 1,492,000 3,180,900 8,228,200 1,740,700 - - - 1,740,700 500,000 1,101,400 - - - 1,191,800 314,600 25,200 - - - 25,200 244,800 17,307,800 573,100 1,025,100 1,512,200 59,639,600 57,433,400 I l
l 4,786,500 660,800 644,800 1,468,100 28,875,700 25,991,100
-- - - - 50,500 4,000 l
10,000 - - - 10,000 700 6,755,000 5,300,000 214,100 - - - 214,100 -- 421,300 - - - 421,300 400 175,400 76,900 - 11,697,600 - - - 14,137,200 26,663,300 259,300 186,000 - - - 186,000 37,900
-- - - - - 74,700
- - - - 326,100 109,600 17,315,500 660,800 644,800 1,468,100 51,052,800 58,616,400
$ (7,700) $ (87,700) $ 380,300 $ 44,100 $ 8,586,800 $ (1,183,000)
The accompanying notes are an Integral part of these financial statements. D-11
CITY OF TALLAHASSEE, FLORIDA - ENTERPRISE FUNDS COMBINING STATEMENT OF O(ANGES IN FINANCI AL POSITION For the Fiscal Year Ended September 30, 1988 (Con t1n ued)
)
Electric Gas Sewer Water l
'j Elements of Net increase (Decrease) In Working Capital:
Cash . . .'. . . . . . . . . . . . . . . $ 56,400 $ - Equ ! ty I n Poo led Ca s h. . . . . . . ... 10,206,000 64,500 39,000 (23,200) , Accounts Receivable. .......... 1,505,600 87,200 18,900 (27,200)' ' inventory. . . . . ........... (2,800) (900) - -- Accounts Payable . . . . . . . . . . . . (2,648,200) 119,700 12,000 29,100 Customer Contracts Payable . . . . . . 30,500 - (60,100) (98,400)- j Cu stome r A d va n ce s. . . . . . . . . .
- (400) - -
Utility Deposits Payable . . . . . . . . (1,080,700) 1,500 - 29,200 Loan from Municipal Retirement Fund. .. Net increase (Decrease) f' Working Capital . . . . . . . . . . . $ 8,066,800 $ 271,700 $ 9,800 $ (90,500) l l l I 1 l D-12 The accompanying notes are en Integral part of these financial statements. l
1 CITY OF TALLAHASSEE, FLORIDA ENTE} PRISE FUNDS COMBINING STATEMENT OF 04ANGES'IN FINANCIAL POSITION For the Fiscal Year Ended September 30, 1988 (Continued) j l 1 1 Totals Telfahassee Solid Golf September September Airport Transit Wa ste Course 30, 1988 30, 1987 ] 1
$ 56,400 $ (78,600) 11,400 (38,500) 54,500 9,400 10,323,200 2,000,700 ,
(51,300) (28,300) 524,300 100 2,029,300 695,200 400 (19,000) - 35,900 13,600 -(43,300) (6,100) 1,600 (198,500) (1,300) (2,691,700) (2,852,800)
-- - - - (128,000) (1,200)
(3,500) - - (3,900) 32,600 .j
-- ' - - - (1,050,000) .(932,600) 37,900 .- - - 37,900 (3,000) j $ (7,700) $ (87,700) $ 380,300 $ 44,100 $ 8,586,800 $ (1,183,000) i i
l l l l l The accompanying notes are an Integral part of these financial statements. D-13
r CITY OF TALLAHASSEE Fl.ORIDA ' ELECTRIC FUW BALANCE SHEET September 30 1988 1987 ASSETS Current Assets: Cash. . . . ....................... $ 97,700 $ 41,300 Equity In Pooled Cash . . ................ 19,504,600 9,298,600 Accounts Receivables Customers . . . . . . . . . . . . . . . . . . . . . . . 8,843,500 8,361,800 Other . . . . . . . . . . . . . . . . . . . . . . . . . 1,944,000 542,800 Less: Al lowance for Doubtful Accounts. . . . . . . . . (1,263,500) (886,200) in ven tory: Fossil Fuel . . . . . . . . . . . . . . . . . . . . . . 6,540,000 6,593,600 , . Nuclear Fuel. . . . . . . . . . . . . . . . . . . . . . 4,492,300 4,104,700 l Accumulated Amortization of Nuclear Fuel, . . . . . . . (2,368,400) (2,031,500) Total Current Assets. . . . . . . . . . . . . . . . . 37,790,200 26,025,100 Restricted Assets: Revenue Bonds Reserve: E q u i ty I n Poo le d Ca sh . . . . . . . . . . . . . .... 14,804,500 14,804,500 Revenue Bonds Construction: Equity in Pooled Cash . . . . . . ........... 16,658,800 17,768,300 Others Equity In Pooled Ca sh . . . . . . . . . . . . . . . . . 6,393,600 7,159,600 Notes Receivable. . . . . . . . . . . . . . . . . . . . 3,013,900 2,119,300 l Revenue Bonds Renewal and Replacements f.quity In Pooled Cash . . ............... 29,682,800 28,267,400 Accounts Rece i vab le . . . . . . . . . . . . . . . . . . 350,700 319.300 Total Restricted Assets. . . . . . . . . . . . . . . . 70,904,300 70,438,400 Other Assets: Un amort! zed Bond i s sue Cost . . . . . . . . . . . . . . . 546,200 '602,400 Total Other Assets . . . . . . . . . . . . . . . . . .. 546,200 602,400 Fixed Assets: Fixed Assets - Cost . .................. 239,617,500 232,981,600 Less: Accumulated Depreciation . . . . . . . . ..... ( 102,953,400) (95,578,600) Cons truct ion in Progress. . . . . . . . . . . . . . . . . 46,387,600 40,733,400 F i xe d As sets - Net . . . . . . . . . . . . . . . . . . 183,051,700 178,136,400 Total Assets . . . . . . . . . . . . . . . . . . . . . 5292,292,400 $275,202,300 0-14 The accompanying notes are an Integral part of these financlai' statements.
I CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND j BALANCE SHEET ) (Continued) September 30 1988 1987 4 l LIABILITIES AND FUND EQUITY 1 Current Liabilities: l
$ 9,396,500 $ 6,748,300 j Ac cou n t s P a y ab l e . . . . . . . . . . . . . . . . . . . . . . .
Customer Con tract Payable . . . . . . . . . . . . . . . . . . . 8,400 38,900 Ut l l i ty Depos i ts Payab le. . . . . . . . . . . . . . . . . . . 6,293,000 5,212.300 1 Tota l Curren t L l ob ! I l t i es . . . . . . . . . . ' . . . . . . . 15,697,900 11,999,500 Payable from Restricted Assets: Retalnage and Accounts Payable. ............... . 364,700' 598,300 Total Payable from Restricted Assets. . . . . . . . . . . . 364,700 598,300 Other Liabilltles: Customer Contracts Pay ab le. . . . . . . . . . . . . . . . . . 110,900 77,700 De f er re d Re ve nue. . . . . . . . . . . . . . . . . . . . . . . 365,400 49,600 l Customer Advances . . . . . . . . . . . . . . . . . . . . . . 130,600 157,700 ] Accr ue d Le a ve . . . . . . . . . . . . . . . . . . . . . . . . 1,122,000 1,043,400 { Bonds and Notes Payable . . . . . . . . . . . . . . . . . . . 106,073,300 110,593,500 j Less: Ocaid D i scoun t. . . . . . . . . . . . . . . . . . . . . (2,020,700) (2,118,000) Tota l Other LI abi l ities . . . . . . . . . . . . . . . . . . 105,781,500 109,803,90,0 Tota l L l ab i l i t ies . . . . . . . . . . . . . . . . . . . . . 121,844,100 122,401,700 l Fund Equity Con tr i bu te d Ca p i t a l . . . . . . . . . . . . . . . . . . . . . 1,890,700 1,890,700-Retained Earnings: Reserved for Revenue bonds. . . . . . . . . . . . . . . . . . . . . . . . 14,804,500 14,804,500 Revenue Bon ds Construction . . . . . . . . . . . . . . . . . 16,427,300 17,473,500 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,429,400 -9,300,800 Revenue Bonds Renodal and Replacement. . . . . . . . . . . . 30,025,200 28,408,200 Total Reserved. ...................... 70,686,400 69,987,000 ; U n r e s e r ve d. . . . . . . . . . . . . . . . . . . . . . . . . . 97,871,200 80,922,900 Tota l F und Equ ity . . . . . . . . . . . . . . . . . . . . . 170,448,300 152,800,600 Tota l Liabilltles and Fund Equity . . . . . . . . . . . . . $292,292,400 $275,202,300 i j The accompanying notes are an Integral part of these finencial statements. 0-15 _ 1 ___-__-___-_ . _ _ _ - _ _ _ _
CITY OFTALLAHASSEE, FLORIDA ELECTRIC FUND' STATEENT OF REVENUES, EFENSES AND CHANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 i 1988 1987 Operating Revenue j Charges for Services ) Residential Sales . . . . . . . . . . . . . . . . . . . . . 1 50,609,200 1 50,269,100-Commercial and industria l Sa les . . . . . . . . . . . . . . 59,520,900- 56,169,900 Public Street and H!ghway Lighting. ............ 913,300 815,300 ; Sa l e s fo r Re s a l e. . . . . . . . . . . . . . . . . . . . . . 3,921,400 1,915,100 i Sales to Other Funds. . . . . . . . . . . . . . . . . . . . 3,822,700 3,741,600 .] S ur ch a r ge . . . . . . . . . . . . . . . . . . . . . . . . . 875,300' 678,100- j Late Foes . . . . . . . . . . . . . . . . . . . . . . . . . 231,400 187,700 j initleting Service. . . . . . . . . . . . . . . . . . . . . 262,200 224,900 Rentals . . . . . . . . . . . . . . . . . . . . . . . . . . 93,800 198,400 Cu t-I n s an d Cu t-f ee s. . . . . . . . . . . . . . . . . '. . . 376,700 360,400 ] Other . . . . . . . . . . . . . . . . . . . . . . . . . . . 172,100 142,700
]
Tota l Operatin g Reven ues . . . . . . . . . . . . . . . . 120,799,000 114,703,200 j Operating Expenses: Personal Services . . . . . . . . . . . . . . . . . . . . . . 8,448,400 7,646,800 Fossll Fuel . . . . . . . . . . . . . . . . . . . . . . . . . 32,604,700 35,819,900 Power Purchased . . . . . . . . . . . . . . . . . . . . . . . 14,189,200 12,080,500 Mater i a l s an d Supp l ies. . . . . . . . . . . . . . . . . . . . 619,700 582,800 Contractual Services. . . . . . . . . . . . . . . . . . . . . 6,970,500 6,425,500 Other Expenses. . . . . . . . . . . . . . . . . . . . . . . . 4,436,700 4,414,100 Less: App l ied Equipment Charges. . . . . . . . . . . . . . . (19,500) (42,900) Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . 8,185,600 8,025,500 ) Amort i z a t ion . . . . . . . . . . . . . . . . . . . . . . . . . 153,500 146,100 l Tota l Operatin g Expenses . . . . . . . . . . . . . . . . . 75,588.800 75,098,300 j Operating income . . . . . . . . ............. 45,210,200 39,604,900
]
Nonoperating Revenues (Expenses): , i n tere s t Reve nue. . . . . . . . . . . . . . . . . . . . . . . 7,333,000 6,493,000 ) Ga in on Sale of Surplus Property. . . . . . . . . . . . . . . 7,600 7,100 Other Revenue . . . . . . . . . . . . . . . . . . . . . . . . 392,900 1,819,200 Interest and Commission Expenses. . . . . . . . . . . . . . . (9,540,900) (9,710,600) Ca p i ta l l red I n terest. . . . . . . . . . . . . . . . . . . . . 2,010,000 - Other Expenses. . . . . . . . . . . . . . . . . . . . . . . . (2,121,000) (530,100) Total Nonoperating Revenues (Expenses). .......... (1,918,400) (1,921,400) I ncome Be for e Opera ti ng Trans f er s. . . . . . . . . . . . . . 43,291,800 37,683,500 Operating Transfers In (Out): Opera ting Trans f ers i n. . . . . . . . . . . . . . . . . . . . 415,300 . . 500 Operating Transfers (Out) . ................. (26,059,400) (23,878,000) : N o t i n come . . . . . . . . . . . . . . . . . . . . . . . . . 17,647,700 13,806,000 Re t a i n e d E a rn i n g s - October 1 . . . . . . . . . . . . . . . . . 150,909,900 137,103,900 Reta ined Earn ings - September 30. . . . . . . . . . . . . . . .' $ 168,5 57,600 $ 150,909,900 D-16 The accompanying statements are en Integral part of these financlal statements.
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND STATEMENT OF CHANGES IN FINANCIAL POSITION Fiscal Year Ended September 30 1988 1987 Sources of Working Capital: Opsrations: Ne t i n come . . . . . . . . . . . . . . . . . . . . . . . . . . $17,647,700 $ 13,806,000 items Not Requiring (providing) Working Capital Depreciation . . . . . . . . . . . . . . . . . . . . . . . . 8,185,600 8,025,500 Amortization . . . . . . . . . . . . . . . . . . . . . . . . 153,500 146,100 Accretion. . . . . . . . . . . . . . . . . . . . . . .'. . . 1,224,800 1,118,000 Ac cr ue d t.e a ve. . . . . . . . . . . . . . . . . . . . . . . . 78,600 43,500 - Work ing Capital Provided by Operations. . . . . . . . . . . . 27,290,200 23,139,100 increase in Customer Advances . . . . . . . . . . . . . . . . - 7,700 Increase In Payable from Restricted Assets. . . . . . . . . .- - 314,600 i n crea se I n De f e rr e d Re ve n ue. . . . . . . . . . . . . . . . . 315,800 - Increase in Customer Contract Pa/able . . . . . . . . . . . . 33,200 - Tota l Sources of Work ing Cap ita l. . . . . . . . . . . . . . 27,639,200 23,461,400 Usss of Working Capital: Acq u i s t t lon of P l ant In Serv i ce . . . . . . . . . . . . . . . 13,100,800 17,729,000 Decrea se I n Son d s Pa y ab l e . . . . . . . . . . . . . . . ... 5,745,000 4,475,000 Increase in Bond issue Cost . . . . . . . . . . . . . . . . . - 400 I ncrea se i n Re s tr i cte d As sets . . . . . . . . . . . . . . . . 465,900 2,675,600 Decrease in Payable from Restricted Assets. . . . . . . . . . 233,600 - Decrease in Customer Advances . . . . . . . . . . . . . . . . 27,100 -- Decrease in Customer Contracts Payable. ........... - 1,700 Tota l Uses of Working Capita l . . . . . . . . . . . . . . . 19,572,400 24,881,700 Net increase (Decrease) in Working Capital. . . . . . . . . $ 8,066,800 $ (1,420,300) Elements of Net increase (Decrease) In Working Capital: Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 56,400 $ (78,600) Equ i ty I n Poo l e d Ca s h . . . . . . . ............. 10,206,000 1,654,200 Accoun ts Rece i v a b l e . . . . . . . . . . . . . . . . . . . . . 1,505,600 559,100 i n ven tory . . . . ...................... (2,800) (69,500) Accounts Payable. ...................... (2,648,200) (2,642,100) Customer Con tract Payab le . . . . . . . . . . . . . . . . . . 30,500 (1,300) Utllity Deposits Payable. ...........,...... (1,080,700) (842,100)- Net increase (Decrease) Working Capita l . . . . . . . . . . $ 8,066,800 $.(1,420,300) The accompanying notes are an Integral part of these financial statements. 0-17 !
{ CITY OF TALLAHASSEE, FLORIDA El.ECTRIC FUND SCHEDULE OF OPERATING EXPENSE
)a 1
Fiscal Year Ended September 30 1988 1937 l Administrative and Generelt j Personal Services. . . . . . . . . . . . . . . . . . . . . $ 1,136,900 $ 730,400 Con tr actua l Ser vices . . . . . . . . . . . . . . . . . . . 3,590,400 3,497,300 Mater ia l s and Supp l ies . . . . . . . . . . . . . . . . . . - 18,500 14,900 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . 4,316,400 4,339,200 9,062,200 8,581,800 Distribution: Persona l Serv i ces. . . . . . . . . . . . . . . . . . . . . 2,901,200 2,637,300 Contractual Services . . . . . . . . . . . . . . . . . . . 1,293,800 1,109,600 Materials and Supplies . . . . . . . . . . . . . . . . . . 185,100 175,800 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . 18,700 14,100 4,398,800 3,936,800 Transmission: Personal Services. . . . . . . . . . . . . . . . . . . . . 120,200 146,300 Con tractua l Ser vices . . . . . . . . . . . . . . . . . . . 217,600 ' 98,500 Materials and Supp!!es . . . . . . . . . . . . . . . . . .- 2,500 3,400 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . 49,300 27,100 j 389,600 275,300 1 i Engineering: Personal Services. . . . . . . . . . . . . . . . . . . . . 219,300 210,000 Con tractua l Ser vices . . . . . . . . . . . . . . . . . . . 15,800 5,700 Materials and Supplies . . . . . . . . . . . . . . . . . . 5,4 00 2,300 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . 20,600 15,700. 261,100 233,700 t Generation: I Personal Services. . . . . . . . . . . . . . . . . . . . . 4,070,800 3,922,800 Fossil Fuel. . . . . . . . . . . . . . . . . . . . . . . . 32,604,700 35,819,900' I Contractual Services . . . . . . . . . . . . . . . . . . . 1,852,900 1,714,400 Powe r P ur ch a se d. . . . . . . . . . . . . . . . . . . .. . . . 14,189,200 12,080,500 Materials and Supplies . . . . . . . . . . . . . . . . . . 408,200 386,400 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . 31,700- 18,000 53,157,500 53,942,000 ; 9 Less: Appl ied Equipment Charges . . . . . . . . . . . . . . (19,500) (42,900) Depreciation . . . . . . . . . . . . . . . . . . . . . . . . 8,185,600 8,025,500 Amortization . . . . . . . . . . . . . . . . . . . . . . . . 153,500 146,100 Total Operating Expense. . . . . . . . . . . . . . . . . . . $75,588,800 $75,098,300 0-18 The accompanying notes are an Integral part of these financial statements.
-u--au-a_- _-_ _
)
CITY OF TALLAHASSEE, FLORIDA - ELECTRIC FUND REGULATORY SCHEDULE OF OPERATING E) PENSE September 30 1988 1987 3 l Fossil Fuel. . . . . . . . . . . . . . . . . . . . . . . . . . $32,604,700 $35,819,900 Nuclear. ........................... 1,272,600 1,265,800 Purchase of Power. . . . . . . . . . . . . . . . . . . . . . . 14,189,200 12,080,500 Production: Operating . . . . . . . . . . . . . . . . . . . . . . . . . 2,881,200 2,695,900 1 Malntenanco . . . . . . . . . . . . . . . . . . . . . . . . 1,130,900 1,062,800 j Transmissions ] Operating . . . . . . . . . . . . . . . . . . . . . . . . . 472,700 338,000
]
Maintenance . . . . . . . . . . . . . . . . . . . . . . . . 100,300 114,600 ;q Distribution: J Operating . . . . . . . . . . . . . . . . . . . . . . . . . 2,475,200 2,304,300 Maintenance . . . . . . . . . . . . . . . . . . . . . . . . 1,140,100 ' 867,800 : Administrative . . . . . . . . . . . . . . . . . . . . . . . . 5,413,200 5,149,400 Automotive Equipment Expense . . . . . . . . . . . . . . ... 528,900 506,300 Less: Applied Equipment Charges . . . . . . . . . . . . . . . (121,300) (144,600) '1 Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . 8,185,600 8,025,500 ] Amortization . . . . . . . . . . . . . . . . . . . . . . . . . 153,500 146,100 Customer Accounts Expense. . . . . . . . . . . . . . . . . . . 3,776,900 3,648,500 Other. . . . . . . . . . . . . . .'. . . . . . . . . . . . . . 1,385,100 1,217,500 Total Operating Expense . . . . . . . . . . . . . . . . . . 575,588,800 575,098,300 i The above schedule Is presented In accordance with the Unf form Chart of Accounts as promulgated by the Federal Energy Regulatory Commission. l 1 l i The accompanying notes are en Integral part of these financial statements. D-19 l
CITY OF TALLAHASSEE, FLORIDA j GAS FUND BALANCE SHEET September 30 1988' - 1987 ASSETS Current Assets j Eq ui ty in Pooled Cash ..............'..... 1 783,500 $ 718,900 - l Accounts Receivables Cu s to me rs . . . . . . . . . . . . . . . . . . . . . . . . 572,600 449,600 Other . ......................... 800 18,100 Less: Al lowance for Doubtf ul Accounts. . . . . . . . . . (79,900) (61,400) Inventory: Fossil Fuel ........................ 95,700 96, 600 j Total Current As s e t s . . . . . . . . . . . . . . . . . . 1,372,700 1,221,800 0 Restrleted Assets . Revenue Bonds . Reserves Equity in Rooled Cash . . . . . . . . . . . . . . . . . .- 75,500 75,500 ; Revenue Bonds Renewal and Replacement: Equity in Roof ed Cash . . . . . . . . . . . . . . . . . . . 3,407,900 3,024,200 g Other s -{ Eq ui ty in Pboled Ca sh . . . . . . . . .. .......... 98,400 82,100 l To ta l Restr i cted As set s. . . . . . . . . . . . . . . . . 3,581,800 3,181,800 I Fixed Assets! Fixed Assets - Cost . ................... 9,519,700 8,935,400 Les s: Accumu lated Depr ec lat ion . . . . . . . . . . . ... (4,018,3001 (3,788,600) Construction In Progress. .................. 779,800 454,100 Fi xed As set s - Not ................... 6,281,200 5,600,900 To t a l A s se t s . . . . . . . . . . . . . . . . . . . . . . . . $11,235,700 $10,004,500 LIABILITIES AND FUND EQUITY Current Liabilities: Ac cou n t s Pa ya b l e . . . . . . . . . . . . . . . . . . . . . . $ 371,700 $ 491,400. Cu s to me r Ad va nce s . . . . . . . . . . . . . . . . . . . . . 3,300 2,900-Ut l l i ty Depos i ts Pa yab le . . . . . . . . . . . . . . . . . . 125,600 127,100 Tota l Curr en t Ll a bi l l t l es . . . . . . . . . . . . . . . . 500,600 621.400 Other Liabilities: Accrued Leave . ...... ................ 89,100 79,500 ; Bon d s and Nate s Paya bl e . . . . . . . . . . . . . . . . . . 96,500 , 105,500 ; Total Ot her L i a b i l i t i e s . . . . . . . . . . . . . . . . . 185,600 185,000 I Tota l Li a bi l i t i es . . . . . . . . . . . . . . . . . . . . 686,200 806,400 Fund Equity: Retained Earnings: Reserved for: Revenue Bonds . . . . . . . . . . . . . . . . . . . . . . 75,500 75,500 Revenue Bonds Renewal and Replacement . ......... 3,407,900 3,024,200 Other . . . . . . . . . . . . . . . . . . . . . . . . . . 98,400 82, 100 Tot a l Re served. . . . . . . . ............. 3,581,800 3,181,800 i Unreserved. . . . . . . . . . . . . . . . . . . . . . . . . 6,967,700 6,016,300 To t a l Fun d Equ i t y . . . . . . . . . . . . . . . . . . . . . 10,549,500 9,198,100 ) Total Li abi l i ties and Fund Eq ui ty . . . . . . . . . . . 111,235,700 $ 10, 004, 500 i. 1 D-20 The accog enying notes are an integral part of_these financial statements.
~,
CITY OF TALLAHASSEE, FLORIDA GAS FUPO STATD4ENT OF REVENUES, EXPENSES MO CHANGES lH RETAINED EARNINGS Fiscal Year Ended September 30
'988 1987 Operating Revenue:
Cwp!, io, :,erv i ce s : Residential Sales. . . . . . . . . . . . . . . . . . . . $ 2,467,900 $ 2.0*2,400 Commerc ia l and indus tr ia l Sa les. . . . . . . . . . . . . 6,615,500 6,439,900 Sa l e s to Ot he r Fu n d s . . . . . . . . . . . . . . . . . . 65,200 68,400 Ta pp i n g Fee s . . . . . . . . . . . . . . . . . . . . . . 14,000 15,900 La t e F e e s . . . . . . . . . . . . . . . . . . . . . . . . 22,100 17, 90 0 In i t l e t t . g Ser v i ce . . . . . . . . . . . . . . . . . . . 25,400 28,300 Cut-ins and Cut-fees . . ............... 34,300 35,400 Ot h e r . . . . . . . . . . . ............... 5,400 12,800 Total Operat ing Revenues . . . . . . . . . . . . . . . 9,249,800 8,721,000 Operating Expenses: Personal Services . . . . . . . . . . . . . . . . . . . . . 614,500 745,000 Ga s Purchased . . . .................... 5,162,100 5,649,300 Ma ter ia l s and Su pp l i es. . . . . . . . . . . . . . . . . . . 60,800 47,400 Contractua l Se r v i c e s . . . . . . . . . . . . . . . . . . . . 803,900 573,800 Other Expenses. . . . . . . . . . . . . . . . . . . . . . . 212,500 235,400 Less: App l ied Eaul pment Charges. . . . . . . . . . . . . . (111,3 M- (61,900) Depreciation. . . . . . . . . . . . . . . . . . . . . . . . 230,200 224,300 Tota l Operat i ng Expenses . . . . . . . . . . . . . . . . 6,972,700 7,413,300 Operating income . . . . . . . . . . . . . . . . . . . . 2,277,100 1,307,700 Nonoperating Revenues (Expenses): interest Revenue. ..................... 303,000 273,600
; Other Revenue . . . . . . . . . . . . . . . . . . . . . . . 10,600 24,400 Interest and Commission Expenses. . . . . . . . . . . . . . (8,300) (8,500)
Ot he r E xp en se s . . . . . . . . . . . . . . . . . . . . . . . (174,500) (122,400) Total Nonoperating Revenues (Expenses) . ......... 130,800 167,100 Incou Bef ore Operat ing Trans f ers . . . . . . . . . . . . . 2,407,900 1,4 74, aM Operating Transfers in (Out): Oper at i ng Tr an s f ers in . . . . . . . . . . . . . . . . . . . 9,900 5,300 Operating Transfers (Out) ................. (1,066.400) (1,090,800) Net income. . . . . . . . . . . . . . . . . . . . . ... 1,351,400 389,300 Retained Earnings - October 1.. .......... . ... 9,198,100 8,808,800 Re ta i ned Ea r n i ngs - Septemb er 3 0. . . . . . . . . . . . . . . $10,549,500 $ 9,198.100 s l I The accompanying notes are en integral part of these financial statements. D-21
CITY OF TALLAHASSEE, FLORIDA GAS FUND STATEMENT OF CHANGES IN FINANCI AL POSITION Fiscal Year Ended September 30 1988 1987 Soure.,s of Working Capital: Operations: Net income. ......................... $1,351,400 $ 389,300 items ibt Reculrina (providing) Working Capital: Depreciation . ......... ............. 230,200 224,300 Ac c r u e d Le a v e . . . . . . . . . . . . . . . . . . ... ... 9,600 (1,700) Working Capital Prov i dad by Operat ions . . . . . . . . . . . . 1,591.200 611,900 Tota l Sources of Working Capita l. . . ... ....... . 1,591,200 611,900 Uses o8 Working Capital Acquisition of Plant in Service . . .. . . ......... 910.500 474,300 Decr ea se i n Bon d s Pa y a b le . . . . . . . . . . . . . . . . . . 9,000 6,000 increase In Restr icted As sets . . . . . . . . . . . . . . . . 400,000 94,600 Decrease In Payable f rom Restricted Assets. . . . . . . . . . - 27,300 Total Uses of Working Capital ............... 1,319,500 602.200 Net increase (Decrease) I n Work ing Cap i te l . . ....... 5 271,700 1 9.700 Elements of Net increase (Decrease) In Working Capital: Equity in Fboled Cash . ..... ........ ...... $ 64,600 $ 195,400 Accounts Receiveble . .............. ...... 87,200 (43,300) Inventory . . . . . . . . . . . . . . . . . . . . . . .... (900) (2,800) Accounts Payable. ........ 4 . . . ......... 119,700 (127,500) Cus tomer Ad vances . . . . . . . ............... (400) (1,800) Ut il ity Deposits Payable. . .. ............... 1,500 (10,300) thf increase (Decrease) Working Capital . . .... ... . 1 271,700 1 9,700 0-?? The acconcanying notes are an Integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA GAS FUND SCHEDULE OF OPERATING EXPENSE t [ F i sc al Year Ended September 30 1988 1987 Administrative and General: Persona l Ser v i ces. . . . . . . . . . . . . . . . . . . 5 95,400 5 194,600 Con tr a ct ua l Ser vices . . . . . . . . . . . . . . . . . 496,400 425,000 Ma ter ia l s and Su pp l i es . . . . . . . . . . . . . . . . 5,300 4,300 Ot her Exp en ses . . . . . . . . . . . . . . . . . . . . 124,300 124,000 721,400 747,900 m Peak Shaving: Pe rsona l Serv i ces. . . . . . . . . . . . . . . . . . . . 5,000 3,200 Contractua l Serv ices . . . . . . . . . . . . . . . . . 1,700 3,800 Ma ter i al s and Su pp l i e s . . . . . . . . . . . . . . . . 500 400 7,200 7,400 Transmission and Olstribution: Pe rso' 91 Se rv i c e s. . . . . . . . . . . . . . . . . . . 514,100 547,200 Ga s Purcha sed. . . . . . . . . . . . . . ..... 5,162,100 5,649,300 Contractual Services . . . . . . . . . . . . . . . . . 305,800 145,000 Mater i a l s an d Supp l ies . . . . . . . . . . . . . . . . . 55,000 42,700 Ot her E xp en s e s . . . . . . . . . . . . . . . . . . . . 88,200 111,400 l 6,125,200 6,495.600 j 1 Less App l ied Equ i pnent Charges . . . . . . . . . . . . . . (111,300) (61,900) De p r ec l at i on . . . . . . . . . . . . . . . . . . . . . . . 230,200 224,300 Total Operating Expense. .............. $ 6,972,700 5 7,413,300 GAS FUND REGULATORY SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1988 1987 Purchase of Ges.............,........ 5 5,162,100 $ 5,649,305~ Di str ibut ion: Op e r a t i n g . . . . . . . . . . . . . . . . . . . . . . . 407,400 308,000 kbintenance . . . . . . . . . . . . .......... 161,200 186,800 Administrative . . . . . . . . . . . . . . . . . . . . . . 337,200 521,000 Automotive Eq u i p men t E xpen s e. . . . . . . . . . . . . . . 268,600 127,200 Less: App l i ed Eq u i pme nt Ch arges . . . . . . . . . . . . . (163,600) (122,900)
]
Depr ec i a t i on . . . . . . . . . . . . . . . . . . . . . . . 230,300 224,300 l Cu stomer Accounts Expense. . . . . . . . . . . . . . . . . 494,400 440,100 Othor........................... 75,100 79,500 Total Operating Expense. ............... 5 6,972,700 5 7,413,300 The above schedule is presented 11 accordance with the Uniform Chart.of Accounts as promulgated by the Federal Energy Regulatory Commission. The accompanying notes are an Integral part of these financial statements. D-23 i
CITY OFTALLAHASSEE FLORIDA 3 SEWER FUIE) BALANCE SHEET , i l September 30 1 1988 1987 ASSETS-Current Assets: Equity In Pooled Cash . . . . . . . . . . . . . . . . . . . $ 224,600 $ 185,600 AccoJnts Receivable: Customers . . . . . . . . . . . . . . . . . ... . . . . . 962,400 948,500
'Other . ... . . . . . .'. . . . . . . . . . . . . . . . . 46,000 10,200 Less: Al lowance for Doubtf ul Accounts. . . . . . . . . . (109,000) (78,200)-
Total Current Assets. . . . . . . . . . . . . . . . . . 1,124,000 1,066,100 Restrlcted Assets: i Revenue Bonds Debt Service: Equity In Pooled Cash . . . . . . . . . . . . . . . . . . 46,600 39,100 ; Revenue Bondb Reserve f Equ i ty in Pooled Cash . . . . . . . . . . . . . . . . . . 1,883,300 1,883,300 Revenue Bonds Constructions E q u i ty i n Poo l e d Ca s h . . . . . . . . . . . . . . . . . . 4,065,000 4,351,900 J Other: 1 E q u i ty i n Poo l e d Ca s h . . . . . . . . . . . . . . . . . . 853,600 '832,100 Rovenue Bonds Renewal and Replacement Equity In Pooled Ca sh . . . . . . . . . . . . . . . . . . 7,751,400 6,402,900 Sewer Line Extension and Depreciation: Equity In Pooled Ca sh . . . . . . . . . . . . . . . . . . 1,818,800 1,232,400 Sunshine State Construction: E q u i ty I n Poo l e d Ca sh . . . . . . . . . . . . . . . . . . 9,025,500 9,006,800 Total Restricted Assets. . . . . . . . . . . . . . . . . 24,444,200 23.748,500 Other Assets: Unamortized Bond I s sue Cost . . . . . . . . . . . . . . . . 61,000 67,300
)
Un amort i ze d Loa n i s s ue Cos t . . . . . , . . . . . . . . . 89,700 92.900 , Tota l Ot her A s sets . . . . . . . . . . . . . . . . . . . 150,700 160,200 l Flxed Assets: .! F i xed A s se t s - Co s t . . . . . . . . . . . . . . . . . . . . 79,409,300 76,377,800 l Less: Accumulated Depreciation . . . . . . . . . . . . . . (17,697,000) (15,838,400) Construct ion In Progress. . . . . . . . . . . . . . . . . . 7,315,800 6,617,300 i F i xe d A s set s - Ne t . . . . . . . . . . . . . . . . . . . 69,028,100 67,156,700 I Total Assets . . . . . . . . . . . . . . . . . . . . . . 194.747,000 $ 92,131,500 i D-24 The accompanying notes are an Integral part of these financial statements.
=
1 E__________
1
)
CTTY OF TALLAHASSEE, FLORIDA SEWER FUND BALAhT SHEET j l (Continued) September 30 - 1988 1987 LI ABILITIES Ato FUND EQUITY ] Current Llobilities: . l Accou n t s Pa y a b l e. . . . . . . . . . . . . . . . . . . . . . $ 20,000 $ 32,000 j Customer Contracts Payable. . . . . . . . . . . . . . . . . 284,300 224,200 l Total Current L iebli ttles . . . . . . . . . . . . . . . 304,300 256,200 [ Payable from Restricted Assets: Accrued Interest and Commi ssions Payable. . . .. . . . . . . 46,600.. 39,100 Reta l n a ge en d Account s P a yab l e. ' . . . . . . . . . . . . . . 13,500 47,700 Total Payable from Res+ricted Assets. . . . . . . . . . 60,100 86,800' Other Liabilities: Advance from Other Funds. . . . . . . . . . . . . . . . . . 500,000 500,000 Oustomer Con tracts Payab le. . . . . . . . . . . . . . . . . . 1,395,800- 1,334,600 Customer Advances . . . . . . . . . . . . . . . . . . . . .- 33,300- 52,800 Accrued Leave . . . . . . . . . . . . . . . . . . . . . . . 323,400' 287,600-Lo a n P a y ab l e . . . . . . . . . . . . . . . . . . . . . . . . 8,617,400 8,694,300 I Bon ds and Notes Payab le . . . . . . . . . . . . . . . . . . . 15,865,200 16,569,400 j Less: Bon d D i scoun t. . . . . . . . . . . . . . . . . . . . (46,600) (51,600) I Total Other Liabilities . . . . . . . . . . . . . . . . 26,688,500 27,387,100 Tcta l L l abi l ltles . . . . . . . . . . . . . . . . . . . 27,052,900 - 27,730,100 Fund Equity: )' Contributed Capital . . . . . . . . . . . . . . . . . . . . 21,992,600 22,685,400 Retained Earnings: i Reserved for: 1 Revenue Bonds . . . . . . . . . . . . . . . . . . . . . . 1,883,300 1,883,300 Revenue Bon ds Con struction. . . . . . . . . . . . . . . . 4,051,500 4,304,200 i Other . . . . . . . . . . . . . . . . . . . . . . . . . . 853,600 832,100 Revenue Bonds Renewal and Replacement . . . . . . . . . . 7,751,400 6,402,900 Sewer Line Extension and Depreciation . . . . . . . . . . 1,818,800 1,232,400 Sunshine State Construction . . . . . . . . . . . . . . . 8,025,500. 9,006,800' Tota l Re serve d. . . . . . . . . . . . . . . . . . . . . 24,384,100 23,661,700 Unreserved . . . . . . . . . . . . . . . . . . . . . . . . 21,317,400 18,054,300 Tota l Fund Equi ty . . . . . . . . . . . . . . . . . . . . 67,694,100 64,401,400 Tota l L!abilli tes and Fund Equity . . . . . . . . . . . $94,74 7,000 $92,131,500 W i h l The am=panying notes are an Integral part of these financial statements. D-25 <
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CITY OF TALLAHASSEE, FLORIDA SEWER rUND STATD4ENT OF REYENUES, EXPENSES AND OlANGES IN RETAINED EARNINGS Fiscal Year Ended September 30 1988 1987 Operating Revenue Charges for Services Residential Sales. . . . . . . . . . . . . . . . . . . . $ 5,987,600 $ 5,325,700 Commercial and Industrial Sales. . . . . . . . . . . . . 6,239,400 5,620,600 Sales to Other Funds . . . . . . . . . . . . . . . . . . 91,400 89,900 Surcharge. . ...................... 179,300 161,100 T a pp i n g F ees . . . . . . . . . . . . . . . . . . . . . . 151,100 130,600 Other. . . . . . . . . . . . . . . . . . . . . . . . . . 217.700 132,000 Tota l Opera ting Revenues . . . . . . . . . . . . . . . 12,866,500 11.459,900 Operating Expenses: Personal Services . . . . . . . . . . . . . . . . . . . . . 3,613,900 3,391,700 Ma ter i a l s an d Supp l ie s. . . . . . . . . . . . . . . . . . . 529,800 520,600 Contractual Services. . . . . . . . . . . . . . . . . . . . 4,181,000 3,584,400 Othe r E xpen se s. . . . . . . . . . . . . . . . . . . . . . . 1,117,600 826,200 Less: App l i ed Equ i pme n t Ch arge s. . . . . . . . . . . . . . (138,800) (123,200) De pr e c i a t i o n . . . . . . . . . . . . . . . . . . . . . . . . 1,863,500 1,841,800 Ame rt i z a t i on . . . . . . . . . . . . . . . . . . . . . . . . 14,500 1 ,900 Total Operating Expenses . . . . . . . . . . . . . . . . 11,181,500 10,056,400 OperattnD income . . . . . . . . . . . . . . . . . . . . 1,685,000 1,403,500 Nonoperating Revenues (Expenses): Interest Revenue. ..................... 1,851,500 1,713,200 Other Revenue . . . . . . . . . . . . . . . . . . . . . . . 1,534,200 1,561,000 Interest and Commission Expenses. ............. (1,559,500) (1,486,000) Other Expenses. . . . . . . . . . . . . . . . . . . . . . . (32,400) (445,200) Total Nonoperating Revenues (Expenses). ....... .. 1,793,800 1,343,000 i ncome Be f or e Operati ng Trans f ers . . . . . . . . . . . . . 3,478,800 2,746,500 Operating Transfers in (Out): Operating Transfers in. . . . . . . . . . . . . . . . . . . 36,000 16,200 Operating Transfers (Out) . ................ (222,100) (597,800) N e t i n come . . . . . . . . . . . . . . . . . . . . . . . . 3,292,700 2,164,900 Disposition of Net income: Depreciation on Contributed Assets. . . . . . . . . . . . . 692,800 692,800 Net increase in Retained Earnings . . . . . . . . . . . . 3,985,500 2,657,700 Retained Earnings - October 1 . . . . . . . . . . . . . . . . 41,716,000 38,858,300 Reta ined Earn in gs - September 30. . . . . . . . . . . . . . . $45,701.500 $41,716,t,30 l r D-26 The accompanying notes are an Integral part of these financial statements.
i CfTY OF TALLAHASSEE, FLORIDA , SEWER FUNO STATDENT OF CHANGES IN FINANCIM. POSITION Fiscal Year Ended September 30 1988 1987 Sources of Working Capitals l Operations: 1 N e t i n come . . . . . . . . . . . . . . . . . . . . . . . . .. 1 3,292,700 $ 2,164,900 items Not Requiring (providing) Working Capital: Depreciation . . . . . . . . . . . . . . . . . . . . . . . . 1,863,500 1,841,800 ; I Amortization . . . . . . . . . . . . . . . . . . . . . . . . 14,500 14,900 Ac cr u e d L e a ve . . . . . . . . . . . . . . . . . . . . . . . . 35,800 6,700
~
Working Capital Provided by Operations. . . . . . . . . . . . 5,206,500 4,028,300 Increase In Customer Contracts Payable. ...... ..... 61,200 -- Increase In Loan Payable. . . . . . . . . . . . . . . . . . . - 8,694,300 Increase in Advance from Other Fund . . . . . . . . . . . . . - 500,000 Total Sources of Working Capital. . . . . . . . . . . . . . 5,267,700 13,222,600 Uses of Working Capitals i 1
.I Decrea se in Cu stomer Advance. . . . . . . . . . . . . . . . . 19,500 -
l Decrease in Payable from Restricted Assets. . . . . . . . . . 26,700 44,900 Acquisition of Plant In Service . . ............. 3,734,900 4,558,100 Decrease in Bonds Payable . . . . . . . . . . . . . . . . . . 704,200 564,500 I ncrease in Loan i ssue Cost . . . . . . . . . , . . . . . . . - 96,100 Decrea se I n Loa n Pa yab le. . . . . . . . . . . . . . . . . . . 76,900, -- Decrease in Consumer Adva nce. . . . . . . . . . . . . . . . . .
- 4,000 Contribution. ........................ -
259,300 i Decrease in Contract Payable. ................ - 62,900 Increase in Restricted Assets . . . . . . . . . . . . . . . . 695,700 7,607,500' Tota l Uses of Work ing Capita l . . . . . . . . . . . . . . . 5,257,900 13,197,300 1 Ne t I n crea se I n Wo rk i ng Ca p i ta l . . . . . . . . . . . . . . 5 9,800 $ 25,300 Elements of Not increase (Decrease) In Working Capital: Eq ui ty i n Poo l ed Ca sh . . . . . ............... $ 39,000 1 12,000 ; Accounts Receivable . . . . . . . . . . . . . . . . . . . . . 18,900 35,100 Accounts Payable. . . . . . . . . . . . . . . . . . . . . . . 12,000 (20,000) ] Customer Contracts Payable. ................. (60,100) (1,800) i i Ne t i ncrea se Work i n g Cap i ta l . . . . . . . . . . . . . . . . 1 9,800 $ 25,300
)
i I i l 1 l I I The accompanying notes are an Integral part of these financial statements. D-27 i
CITY OF TALLAHASSEE, FLORIDA SEWER FUND SOEDULE OF OPERATING EXPENSE j i l Fiscal Year Ended September 30 1988 198 7 Administrative and General: Personal Services. . . . . ... . . . . . . . . . . . . . $' 523,400 1 421,800 Contractual Services . . . . . . . . . . . . . . . . . . 1,083,300 1,005,700 Other. . . . . . . . . . . . . . . . . . . . . . . . . . 237,100 235,000 1,843,800 . 1,662,500 Treatment Plants: Pe rson a l Serv i ces. . . . . . . . . . . . . . . . . . . . 1,598,200 1,457,500 Con tractua l Services . . . . . . . . . . . . . . . . . . 1,811,400 1,609,100 Materials and Supplies . . . . . . . . . . . . . . . . . 292,300 275,100 Other. . . . . , . . . . . . . . . . . . . . . . . . . . 792,700 566,300 f 4,494,600 3,908,000 Wator Quality Lab Personal Services. . . . . . . . . . . . . . . . . . . . 244,800 239,000 . Con tractua l Ser vices . . . . . . . . . . . . . . . . . . 14,500 11,900 Ma ter i a l s an d Supp l ies . . . . . . . . . . . . . . . . . 67,300 53,500 Other. . . . . . . . . . . . . . . . . . . . . . . . . . 18,500 16,700 345,100 321,100 Sewer Collection: Personal Services. . . . . . . . . . . . . . . . . . . . 952,200 - 931,700 Con tractua l Services . . . . . . . . . . . . . . . . . . 795,700 512,100 Materials and Supplies . . . . . . . . . . . . . . . . . 104,000 '111.100 Other. . . . . . . . . . . . . . . . . . . . . . . . . . 3,203 7,500 1,855.100 1,562,400 TV Inspection l l Personal Services. . . . . . . . . . . . . . . . . . . . 129,000 116,600 l Con tr actua l Ser v ice s . . . . . . . . . . . . . . . . . . 60,300 .36,800 Mater ia l s and Supp l ies . . . . . . . . . . . . . . . . . 10,700 '2,800 Other. ......................... 300 -- 200,300 166,200 Pumping Stations: Personal Services. . . . . . . . . . . . . . . . . . . . 231,400 225,200 Con tractua l Ser vices . . . . . . . . . . . . . . . . . . 415,900 408,800 Materials and Supplies . . . . . . . . . . . . . . . . . 55,400 68,000 Other. . . . . . . . . . . . . . . . . . . . . . . . . . 700 700 703,400 702,700 App lied Equipment Expen se . . . . . . . . . . . . . . . . (1;o,800) (123,200) Depreciation. ...................... 1,863,500 1,841,800 Amortization. . . . . . . . . . . . . . . . . . . . . . . 14,500 14,900-Tota l Operating Expense. . . . . . . . . . . . . . . . 111.181.500 $ 10,056,4 00 0-28 - The accompanying motes are an Integral part of these financial statements. 1 ____m_____m____ _ _ _ _ . _ _ _ _ _
[ CITY @F TALLAHASSEE, FLORIDA SEWER FUND REGULATORY SQisI)ULE OF OPERATING EFENSE
' Fiscal Year Ended September 30 1988 1937 1
i Production: I operating . . . . ... . . . . . . . . . . . . . . . . . . . $ .1,512,600 $ 1,474,600 Maintenance . . .'. . . . . . . . . . . . . . . . . . . . . 585,700 490,900 j Transmlaslon: _ j Op er a t i n g . . . .. . . , . . . . . .' . . . . . . . . . . . 170,000 172,800 Maintenance . . . . . . . . . . . . . . . . . . . . . .'. . 102,700 115,500 Distr ibution: Operating . . . . . . . . . . . . . . . . . . . . . . . . . 2,608,200 2,559,900 Maintenance . . . . . . . . . . . . . . . . . . . . . . . . 196,200 - 234,100 Adm i n i stra t i ve . . . . . . . . . . . . . . . . . . . . . .. . . 1,655,600 1,453,700 Automot i ve Equipment Expense. . . . . . . . . . . . . . . .. . 1,054,200 588,200-Less: Applied Equipment Charges . . . . . . . . . . . . . . . (497,800) (489,300) Deprecletion . . . . . . . . . . . . . . . . . . . . . . . . . 1,863,500 '1,841,800 Amo rt i z a t i on . . . . . . . . . . . . . . . . . . . . . . . . . 14,500 14,900 Oustomer Accounts Expense. . . . . . . . . . . . . . . . . . . 1,140,300 1,057,800 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 775,800 541,500 Total Operating Expense. . . . . . . . . . . . . . . . . . $11,181,500 $10,056,400 The above schedule is presented in accordance with the Uniform System of Accounts for Class A and B Water Utilities as promulga'ed by the National Association of Regulatory Utility Commissioners, i
~
i l l I I i i i I J 1 i The accompanying notes are an integral part of these financial statements. D-29 j I a l
1 l CITY OF TALLAHASSEE, FLORIDA . CATER FUND BALANCE SHEET September 30 1988 1987 ASSETS Current Assets: Eculty in Pooled Cash ................... $ 465,500 $- 488,700-Accounts Receivable Customers . . . . . . . . . . . . . . . . . . . . . . . . 624,600 609,500 Other . . ........................ 12,300 32,000-Less: Al lowance for Doubtf ul Accounts. . . . . . . . . . (74,400) (51,800) Tota l Current As set s. . . . . . . . . . . . . . . . . . 1,028,000 1,078,400 Restricted Assets: Revenue Bonds' Debt Service Equity In Pooled Cash .................. 39,700 33,400 Revenue Bonds Reserve Eaulty In Pooled Cash . ... . .............. 635,600 635,600 Revenue Bonds Construction: Eaulty in Pooled Cash . . ...... ......... 3,507,700 3.474,000 Revenue Bonds Renewai 'and Replacement: Eaulty in Pooted Cash . . ................ 2,661,100 2,106,700: Water Line Extension and Depreciation: Eaulty in Pooled Cash . . . . . . . . . . . . ...... 1,209,300 608,900 Sunshine State Constructions Eaulty in Pooled Cash . . . . . . . . . . . . . . . . . . ' 7,257,800 - ' 7,772,500 Other : Eaulty in Pooted Cash .................. 321,100 123,200 j Tota l Restr i cted Assets. . . . . . . . . . . . . . . . . 15,632,300 14,754,300 l Cthers Assets: ' Unamortized Bond issue Cost . . . . . . . . . . . . . . . . 18,4 00 20,300 Unamortized Loan Issue Cost . ............... 76,600 79,300 Total Other Assets . . . . . . . . . . . . . . . . . . . 95,000 99,600 ] Fired Assets: F'xed Assets - Cost . . . . . . . . . . . . ....... 34,364,800 32,386,300 Less: Accumulated Depreciation . . . . . . ..... (10,463,800) (9,791,000) Construc t ion i n Pr ogres s. . . . . . . . . . . . . . . . . . 2.940,100 1,354,100 Fixed Assets - Net . .................. 26,841,100 23,949,400 Totes Assets . . . . . . . . . . . . . . . . . . . . . . 143,596,400 $39,881,700 l D-30 The accompanying notes are an Integral part of these financial statements.
._1_.__ ___ __ ____ o
l CITY OF TALLAHASSEE FLORlDA ' 3 WATER FUIO BALANCE SHEET (Continued) September 30 1988 1987 1 1 LIABILITIES AND FUND EOUlTY 1 1 1 Current Liabilities: Accounts Payable. ..................... $ 200 $ 29,300 i Customer Contracts Payable. . . . . . . . . . . . . . . . . 226,300 127,900 j Lftllity Deposits Payable. . . ............... 306,300 335.500 [ Tota l Curren t Liab i l i t ies . . . . . . . . . . . . . . . . 532,800 492,700 i 1 Payable from Restricted Assets: l Accrued Interest and Commi ssions Payable. . . . . .'. . . .- 39,700 33,400 l 3,800 i Retalnage and Accounts Payable. .............. 87,900 Total Payable from Restricted Assets. . . . . . . . . . . 127,600 37,200 j Other Liabilities: Customer Contracts Payable. . ............... 1,288,000 1,208,200 Cu st omer Ad va nc es . . . . . . . . . . . . . . . . . . . . . 9,100.' 13,000 Accrued Leave . . . . . . . . . . . . . . . . . . . . . . . 140,500 136,100 , Loan Payable. ........................ 7,417,900 .7,483,700 { Bonds and Notes Payable . . . . . . . . . . . . . . . . . . 6,473,300 6,770,100 j Less: Bond Olscount. ................... (29,800) (32,900)' ! Total Other Liabilities . . . . . . . . . . . . . . . . . 15,299,000 15,578,200 Total Llabillfles . . . . . . . . . . . . . . . . . . . . 15,959,400_ ' 16,108,100 Fund Equity-Retained Earnings: Reserved for: Rev enu e Bon d s . . . . . . . . . . . . . . . . . . . . . . 635,600 635,600 Revenue Bonds Construction. . . . . . . . . . . . . . . . 3,419,900 3,470,200 Revenue Bonds Renewal and Replacement . . . . . . . . . . 2,661,000 2l106,700 Water Line Extension and Deprecletion . . . . . . . . . . 1,209,300 608,900 Sunshine State Construction . . . . . . . . . . . . . . . 7,257,800 7,772,500 Other . ......................... 321,100 123,200 Total Reserved. .................... 15,504,700 14,717,100 3 Unreserved. . . ...................... 12,132,300 9,056,500 l Tota l F und Eq u i ty . . . . . . . . . . . . . . . . . . . 27,637,000 23,773,600 l Total Liabilities and Fund Equity . . . . . . . . . . . $ 43,596,400 $39,881,700 j I l l l i The accompanying notes are an Integral part of these financial statements. D-31 j
CITY OF TALLAHASSEE, FLORIDA CA:2R FUFD STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS 1 Fiscal Year Ended Septemb'- 30 i 1988 198' -1 I l Operating Revenue: Charges for Services: Residential Sales. . . . . . . . . . . . . . . . . . . $ 4,709,100 5 3,992,900 Commercial and Industrial Sales. . . . . . . . . . . . 3,137,200 2,732,000 Sales to Other Funds . . . . . . . . . . . . . . . . . 175,600 155,000 . Surcharge. . . . .................... 497,500 388,100 Ta pp i ng F ees . . . . . . . . . . . . . . . . . . . . . 418,800 290,000 Late Fees. . . . . . . . . . . . . . . . . . . . . . . 8,600 7,000 initleting Service . . . . . . . . . . . . . . . . . . 197,800 167,700 Rentals. . . . . . . . . . . . . . . . . . . . . . . . 52,500 "2,500 Cu t- i n s a nd Cu t- f e e s . . . . . . . . . . . . . . . . . 228,800 225,400 Other. . . . . . . . . . . . . . . . . . . . . . . . ' . 212,100 174,100 Total Operating Revenues . . . . . . . . . . . . . . 9,638,000 8,184,700 Operating Expenses: Personal Services . . . . . . . . . . . . . . . . . . . . 1,299,900 1,534,400 < Mater i a l s an d Sup p l i e s. . . . . . . . . . . . . . . . . . 296,400 096,300 i
)
Contractual Services . . . . . . . . . . . . . . . . . . 2,945,800 2,39G,5DO - Other Expenses. . . . . . . . . . . . . . . . . . . . . . 282,900 318,900 Less: Appl i ed Eq ui pme nt Charges. . . . . . . . . . . . . (198,300) (188,100) Depreciation. . . . . . . . . . . . . . . . . . . . . . . 677,500 647,300 Amo rt l z a t i o n . . . . . . . . . . . . . . . . . . . . . . . 7,800 8,000 Tota l Operat i n g Expenses. . . . . . . . . . . . . . . . 5,312,000 5,013,100 Operating Income. ...~................ 4,326,000 3,171,600 Nonoperating Revenues (Expenses): I n terest Revenue. . . . . . . . . . . . . . . . . . . . . 1,174,800 1,036,500 Galn on Sale of Surplus Property. . . .......... 200 500 ,' Other Revenue . . . . . . . . . . . . . . . . . ..... 926,500 656,000 Interest and Commi ssion Expenses. . . . . . . . . . . . . (887,000) (808,000) i Other Expenses. . . . . . . . . . . . . . . . . . . . . . (362.100) (271.900) d Total tbnoperating Revenues (Expenses). ... .... . 852,400 613,100 l Income Before Operating Transfers . . . . .. . . . . . . . 5,178,400 3,784,700 Operating Transf ers in (Out): Operating Transfers la. ................. 71,300 2,300 Operating Transfers (C *) ................ (1,386,300) (1,517,400) Net income. ....................... 3,863,400 2,269,600 l Retained Earnings - October 1 . . . . . . . . . . . . . . . 23,773,600 21,504,000 Retained Earnings - September 30. ............. 5 27,637,000 $23,773,600 l 1 s D-32 The accompanying notes are en Integral part of these financial statements. I - ____ - ____-___-______ . _ _ _ - _ - _ - _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _. _ . - - _ _ _ - _ _ _ a
1
]
1 CITY OF TALLAHASSEE, FLORIDA l
~ WATER FUM)
STATEMEW OF CHANGES IN FINANCIAL POSITION .) F 1 scal Year Ended September 30 - 1988 1987 .I Sources of Wrking Capital: Operations: Net income. . . . . . . . ..... ............ $ 3,863,400 $2.269,600 items not Requiring (providing) Working Capital: Depreciation . . . . . . . . . . . . . . . . . . . . . . . 677,500 647,300 Amortization . . . . . . . . . . . . . . . . . . . . . . . 7,800 8,000 Ac cru ed . Le av e . . . . . . . . . . . . . . . . . . . . . . . 4,400 6,100
)
Working Capital Provided by Operations. . . . . . . . . . . 4,553,100 2,931,000 i l Increase in Customer Contracts Payable. . . . . . . . . . . 79,800 -
]
Increase in Customer Ad vances . . . . . . . . . . . . . . . -- 9,000 j lncrease in Payable for Restricted Assets . . . . . . . . . 90,400 -- J
,j Increase i n Loan Payabl e. . . . . . . . . . . . . . . . . .
- 7,483,700 Total Sources of Working Capi tal . . . . . . . . . . . . . 4,723,300 10,423,700 Uses of Working Capital: f Acquisition of Plant in Services. . . . . . . . . . . . . . 3,569,300 1,744,300 j 254,500 j
Decrea s e i n Bon d s Paya b le . . . . . . . . . . . . . . . . . 296,800 Decrease in Cu stomer Adva nces . . . . . . . . . . . . . . . 3,900 -- Increase in Reste l eted Assets . . . . . . . . . . . . . . . 878,000 8,304,700 Decrease in Payable f rom Restricted Assets. . . . . . . . . -- 37,400 j increase in Loan issue Cost . ............... -- 79,300 j Decrease in Custrmer Contracts Payable. . . . . . . . . . . -- 11,400 1
~
Dncrease in Loan Payable .... ............ _ 65,800 -- f Total Uses of Working Capital .............. 4,613,800 10,431,600 1
%t increase (Decrease) in Working Capital. . . . . . . . $ (90,500) $ (7,900) ti l
El enents of Net increase (Decrease) In Working Capital: j Equity In Fboled Cash . . .... . . . . . . . . . . .,. . $ (23,200) s 34,700 Accounts Receivable . . . . . . . . . . . . . . . . . . . . (27,200) 66,300 Acc ount s Paya b le. . . . . . . . . . . . . . . . . . . . . . 29.100 (29,300) Customer Contracts Payable. ................ (98,400) 600 Uti lity Deposits Payable. . . . . ............. 29,200 (80,2001 1 Net increase (Decrease) In Working Capital. . . . . . . . 5 (90,500) $ (7, 90 0) i l l j l l i 1 l j The accompanying notes are en Integral part of these financial statements. D-33
CITY OF TALLAHASSEE, FLORIDA CATER FUND SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 1988 _ 1987 Administrative and General: Personal Services. . . . . . . . . . . . . . . . . . . . . . $ 92,500 5 116,900 Contracture l Ser v i ce s. . . . . . . . . . . . . . . . . . . . I,096,400 1,025,600 Other Expenses . . . . . . . . . . . . . . . . . . . . . . . 118,000 131,600 ! 1.306,900 1,274,100 1 Supp l y: 244,300 235,500 Personal Services. . . . . . . . . . . ... . . . . . . . . . Contracture l Ser v i ce s . . . . . . . . . . . . . . . . . . . . 1,136,100 958,900 Ma ter l a t s and Supp l i e s . . . . . . . . . . . . . . . . . . . 48,700 37,500 Ot h er Expen s es . . . . . . . . . . . . . . . . . . . . . . . l 600 1,500 1,430,700 1,233,400
-l 1
Transmission and Distribution: Personal Services. . . . . . . . . . . . . . . . . . . . . . 963.100 1,181,900 713,200- 411,800 Cont ractu ra l Ser v i ce s. . . . . . . . . . . . . . . . . . . . Materials and Supplies . . . . . . . . . . . . . . . . . . . 247,800 258,800 Ot h e r E xp en s es . . . . . . . . . . . . . . . . . . . . . . . 163,300 185,900 2,087,400 2,038,400 Less: App l i e d Equ i pment Char ge s . . . . . . . . . . . . . . (198,300)' (188,100) Deprecletion Expense . . . . . . . . . . . . . . . . . . . . 677,500 647,300 Amor t i z a t i on E xpen s e . . . . . . . . . . . . . . . . . . . . 7,800 8,000 Total Operating Expense. . . . . . . . . . . . . . . . . 5 5,312,000 55,013,100 l WATER FUND REGULATORY SCHEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30 - . 1988 1987
?
4 FYoduct ion : Operating. . . . . . . . . . . . . . . . . . . . . . . . . $ 1,346,600 $1,189,600 Ma i n t e n a nc e . . . . . . . . . . . . . . . . . . . . . . . . 6,300 17,500 Distribution: Operating. . . . . . . . . . . . . . . . . . . . . . . . . 331,300 290,500 Ma i n t e n a nc e . . . . . . . . . . . . . . . . . . . . . . . . 758,300 773,100 Administrative. . . . . . . . . . . . . . .'. . . . . . . . .- 561,100 846,500 Automot ive Eq u i pment Expense. . . . . . . . . . . . . . . . . 701,700 382,300 Less: Appl i ed Equ i pment Ch arges. . . . . . . . . . . . . . . (351,000) (352,400) ; Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . 677,500 647,300 Amortization. ........................ 7,800 8,000-Customer Accoun ts Expense . . . . . . . . . . . . . . . . . . 1,135,400 1 ,048,300 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137,000 162,400 Total Operating Expense . . . . . . ........ . 5 5,312,000 55,013,100 The above schedule is presented in accordance with the Uniform System of Accounts for Class A and D Water Utilities as promulgated by the National Association of Regulatory utility Commissioners. D-34 The accompanying notes are an Integral part of these financial statements. ,
1 i CfTY OFTALLAHASSEE3 FLORIDA AIRPORT FUID BALANCE SHEET l
'i aptember 30 1988 1987 ASSETS Current Assets: 1 Cash. ........................... 5 1,000- 5 1,000 Equity in Pooled Cash . .................. 485,600 474,200 Accounts Receivable Customers . . . . . . . . . . . . . . . . . . . . . . . . 150,700 194,400 Other . . . . . . . . . . . . . . . . . . . . . . . . . . 217,000 218,800
'Less: Al lowance for Doubtf ul Accounts. . . . . . . . . . (40,600) (34,800)
I n ven tory - Foss i l Fue l . . . . . . . . . . . . . . . . . 95,000 94,600 'I Tota l Cur rent As sets . . . . . . . . . . . . . . . . . . 908,700 948,200 Restricted Assets: Constructions j Equity in Poo led Ca sh . . . . . . . . . ' . . . . . . , . . 16,635,100' 7,772,500 ] Accounts Rece i vab l e . . . . . . . . . . . . . . . . . . . 514,200 -- j 1 Others i Eq u i ty in Poo led . ia sh . . . . . . . . . . . . . . . . . . 68,300 376,800 Accounts Receivabis . . . . . . . . . . . . . . . . . . . 22,400 20,400 Renewal and Replacement: Equity In Pooled Ca sh . . . . . . . . . . . . . . . . . . 2,655,100 2,418,900 Reserves Equity in Pooled Cash . . . . . . . . . . . . . . . . . . 1,109,200 - Revenue Bonds Debt Service: Equi ty i n Poo led Ca sh . . . . . . . . . . . . . . . . . . 45,600 . Ca sh w i th Fi sca l Agen t. . . . . . . . . . . . . . . . . . 1,226,300 -- Tota l Re s tr icted As se ts. . . . . . . . . . . . . . . .. . 22,276,200 10,588,600 l Fixed Assets: - 1 F i xed A s se ts - Co s t . . . . . . . . . . . . . . . . . . . . ?3,995,500 17,200,700 l. Less: Accumulated Depreciation . . . . . . . . . . . . . . (, 011,100) (6.447,800) Construction In Progress. . . . . . . . . . . . . . . . . . 6,.17,300' 3,201,000 F i xe d As sets - Net . . . . . . . . . . . . . . . . . . . 18,10:,700 13,953,900 ] Other Assets: Unamortized Bond issue Cost . . . . ............ 421,300 - Tota l Othe r As sets . . . . . . . . . . . . . . . . . . . 421,300 - Total Assets . . . . . . . . . . . . . . . . . . . . . . 541.707,900 525,490,700 ') i 1 l I l l The. accompanying notes are an Integral part of these financial statseents. D-35 i i
f1 CITY OF TALLAHASSEE FLORIDA - AIRPORT FUND BALAN E SHEET (Continued)- September 30 1988 198 7 LI ABILITIES AND FUND EQUITY Current Liabilities: Accounts Payable. ..................... $ 142,800 $ 136,700 Cu s tomer Ad va nces . . . . . . . . . . . . . . . . . . . . . 11,700 11,700 D u e to O t he r F un ds . . . . . . . . . . . . . . . . . . . . . . 1,000 1,000 Loan from Municipal Retirement Fund . . . . . . . . . . . . 37,900 Total Curren t L labli t tles . . . . . . . . . . . . . . . . 155,500 187,300 Payable From Restricted Assets: Retalnage Payable . . . . . . . . . . . . . . . . . . . . . . 367,900 7,9 00 Accrued I nteres t Payab l e. . . . . . . . . . . . . . . . . . 741,300 -- Total Payable from Restricted Assets. . . . . . . . . . . . 1,109,200 7,9 00 Other liabilities: Deferred Revenue. ..................... -- 10,000 Accr ue d Le a ve . . . . . . . . . . . . . . . . . . . . . . . 147,200- 161,500 Loan from Municipal Retirement Fund . . . . . . . . . . . . -- 186,000- ; Don d s Pa y a b l e . . . . . . . . . . . . . . . . . . . . . . . 12,350,000 -- ! Less: Bond Discount. ................... (214,100) -- Ad vance f rom Other Fun ds. . . . . . . . . . . . . . . . . . 1,740,700 -- Total Other Llabilitles . . . . . . . . . . . . . . . . .- 14,023,800 357,500 Total Liabilltles . . . . . . . . . . . . . . . . . . . . 15,288,500 552,700 Fund Equity: Contributed Capital . . . . . . . . . . . . . . . . . . . . 20,292,400 20,228,8 00 Retained Earnings: Reserved for Reve nue Bonds Debt Service. . . . . . . . . . . . . . . . 530,600' -- Re ve n ue Bon d. . . . . . . . . . . . . . . . . . . .' . . . 1,109,200 -- Construction. . . . . . . . . . . . . . . . . . . . . . . 8,101,000 372,500- i Renewa l an d Rep l acement . . . . . . . . . . . . . . . . . 2,655,100 2,418,900 l 49,500 397,300 Other . . . . . .. .. ... .. .. .. .. ... .. .. .. ... .. .. .. .. ... .~~12,445.400 Total Reserved . . . _ 3,188,700 Unreserved. . . . . . . . . . . . . . . . . . . . . . . . . (6,318,400) 1,520,500 Tota l F un d Equ i ty. . . . . . . . . . . . . . . . . . . . 26,419,400 24,938,000 Total Llabilltles and Fund Equity. . . . . . . . . . . $ 41,707,900 $.?5,490,7 00 - J
.z - ]
I 1 l l l I J i l D-36 The accompee,ing notes are an Integral part of these financial statments. l l 4 1
E 1 i f ' i l CITY OF TALLAHASSEE, FLORIDA ) AIRPORT FUlO STATEMENT OF REVENUES, EXPENSES AND OtANGES IN RETAINED EARNINGS Fiscal Year Ended September 30, 1988 1987
' Operating Revenue:
Charges for Services ] Sa les of G a s an d 01 1. . . . . . . . . . . . . . . . . . . $1,666,000 $1,654,800 ] La n d i ng a n d T ! e Down Fee s . . . . . . . . . . . . . . . . 376,800 .310,200 l Rentals . . . . . . . . . . . . . . . . . . . . . . . . . 2,357,900 2,162,500 ! Other . . . . . . . . . . . . . . . . . . . . . . . . . . 140,500 126,800 Total Operating Revenues . . . . . . . . . . . . . . . 4,541,200 4,254,300 Operating Expenses f Personal Services . . . . . . . . . . . . . . . . . . . . . 1,264,700 1,195,600 j Mater ia ls an d Supp l ie s. . . . . . . . . . . . . . . . . . . 1,858,200 87,100 ) Contractual Services. . . . . . . . . . . . . . . . . . . . 79,400 1,779,600 ! Other Expenses. . . . . . . . . . . . . . . . . . . . . . . 279,900 181,400 Depreciation. ....................... 602,100 596,800 Amortization. . .'. . . . . . . . . . . . . . . . . . . . . 21,400 - Total Operating Expenses . . . . . . . . . . . . . . . . ,4,105,700 3,840,500 Operating income (Less). . ............... 435,500 413,800 Nonoperating Revenues (Expenses): ; interest Revenue. . . . . . . . . . . . . . . . . . . . . . 1,295,800 731,000 Ot he r Re ve n ue . . . . . . . . . . . . . . . . . . . . . . . - 7,600 Interest and Commission Expenses. ............. (717,800) (19,400) j O t he r E xpen se s. . . . . . . . . . + . . . . . . . . . . . . (105,900) (2,400) Total Nonoperating Revenues (Expenses). ......... 472,100 716,800 i income Be fore Operati ng Trans fers . . . . . . . . . . . . . 907,600 1,130,600 i I Operating Transiers in (Out): Operating Transfers (Out) ................. (4.000) (324,300) Ne t i n come. . . . . . . . . . . . . . .......... 903,600 806,300 Olsposition of Net incomes Decrea se in Contribu ted Cap i ta l . . . . . . . . . . . . . . - 27,900 Depreciation on Contributed Assets. . . . . . . . . . . . . 514,200 514,200 Net increase in Retained Earnings . . . . . . . . . . . . 1,417,800 1,348,400 Reta ined Earn in gs - October 1 . . . . . . . . . . . . . . . . 4.709,200 3,360,800 Retained Earn ings - September 30. . . . . . . . . . . . . . . 16,127,000 $4,709,200 The accompanying notes are an Integral part of these financial statements. D-37
CITY OF TALLAHASSEE0 FLORIDA Alfr0RT FtM) STATEMENT OF CHANGES IN FINANCI AL POSITION s September 30 1988 198 7 Sources of Working Capital ) Operations: l Ne t i n come . . . . . . . . . . . . . . . . . . . . . . . . . $ 903,600 $ 806,300 items Not Requiring Working Capital Depreciation . . . . . . . . . . . . . . . . . .. . . . . . 602,100 596,800 Acc rue d Le a ve. . . . . . . . . . . . . . . . . . . . . . . . (14,400) 20,400 g Amor t i z a t i on . . . . . . . . . . . . . . . . . . . . . . . . 21,400 - Working Capital Provided by Operations. . . . . . . . . . . . 1,512,700 1,423,500 increase in Payable from Restricted Assets. . . . . . . . . . 1,101,400l - Ad vance f rom Other Fun ds. . . . . . . . . . . . . . . . . . . 1,740,700 -- Proceeds from Sa le of Ebnds . . . . . . . . . . . . . . . . . 12,350,000 - Retirement of F ixed Asset . . . . . . . . . . . . . . . . . . 25,200 -- Con tr i bu t ion s . . . . . . . . . . . . . . . . . . . . . . . . 577,800 8.096,300 Tota l Sources of Working Capita l. . . . . . . . . . . . . . 17,307,800 9.519,800 Uses of Working Capital: Acquisition of Plant in Service . . . . . . . . . . . . . . . 4,775,000 1,420,500 Decrea se in Def erred Revenue. . . . . . . . . . . . . . . . . 10,000 200 I n crea se i n Re s tr i cted As se t s . . . . . . . . . . . . . . . . 11,687,600 7,980,900 Reduction of Loan from Municipal Retirement Fund. . . . . . . 186,000 37,900 Increase in Bond issue Cost . . . . . . . . . . . . . . . . . 438,900 - l I n cre a se i n Don d O l scoun t . . . . . . . . . . . . . . . . . . 218,000 -- Tota l Uses of Work ing Capita l . . . . . . . . . . . . . . . 17,315,500 9,439,500 Net increase (Decrease) In Working Capita l. . . . . . . . . $ (7.700) $ 80,300 Elements of Net increase (Decrease) In Working Capital: Eq u i ty i n Poo l e d Ca s h . . . . . . . . . . . . . . . . . . . . $ 11,400 $ 55,600 Accounts Receivable . . . . . . . . . . . . . . . . . . . . . (51,300) 71,900 1 I n ve n to ry . . . . . . . . . . . . . . . . . . . . . . . . . . 400 8,300 l l Accounts Payable. ...................... (6,100) (52,500) Loan from Municipal Retirement Fund . . . . . . . . . . . . . 37,900 (3,000) i l l Net increase (Decrease) Work ing Capital . . . . . . . . . . $ (7,700) $ 80,300 i l i i 2 l D-38 The accompanying notes are en Integral part of these financlel statements. 1 L -
CITY OF TALLAHASSEE, FLORIDA A1IPORT FUIO SCHEDULE OF OPERATIM EFENSE Fiscal Year Ended September 30 1988 198 7 Administrative and General: Personal Services. . . . . . . . . . . . . . . . . . . . . 5 141,700 $ 131,000 Contractual Services . . . . . . . . . . . . . . . . . . . 273,300 239,500 Materials and Supplies . . . . . . . . . . . . . . . . . . 3,100 2,000 Othe r Expe n ses . . . . . . . . . . . . . . . . . . . . . . 267,600 174,200 685,700 546,700 PLblic Safety - Fire Personal Services. . . . . . . . . . . . . . . . . . . . 285,200 306,200 Con tr a ctu a l Ser v i ces . . . . . . . . . . . . . . . . . . . 11,100 10,700 Other Expenses . . . . . . . . . . . . . . . . . . . . . . 800 400 297,100 317,300 Airport Patrol Personal Services. . . . . . . . . . . . . . . . . . . . . 189,600 167,900 Contractual' Services . . . . . . . . . . . . . . . . . . . 4,9C3 3,70 0 Materials and Supplies . . . . . . . . . . . . . . . . . . 500 400 195,000 172,000 F I Ightl f ne Perso na l Serv i ces. . . . . . . . . . . . . . . . . . . . . 361,500 334,900 Con tr a ctua l Ser v i ce s . . . . . . . . . . . . . . . . . . . 1,245,600 1,201,800 Materials and Suppiles . . . . . . . . . . . . . . . . . . 10,500 9,000 Other Expenses . . . . . . . . . . . . . . . . . . . . . . 9,700 3,100 1,627,300 , 1,548.800 Bullding Maintenance: Personal Services. . . . . . . . . . . . . . . . . . . . . 154,500 132,100 Contractual Services . . . . . . . . . . . . . . . . . . . 233,100 234,200 Materials and Supplies . . . . . . . . . . . . . . . . . . 30,000 30,000 417,600 396,300 ! Base Maintenance Personal Serv!ces. . . . . . . . . . . . . . . . . . . . . 132,200 123,500 Contractual Services . . . . . . . . . . . . . . . . . . . 90,200 89,700 l Ma ter ! a l s and S u pp l ie s . . . . . . . . . . . . . . . . . . 35,300 45,700 Other Expenses . . . . . . . . . . . . . . . . . . . . . . 1,800 3,700 259.500 262,600 Depreciation . . . . . . . . . . . . . . . . . . . . . . . . 602,100 596,800 Amo rt i z a t ' on . . . . . . . . . . . . . . . . . . . . . . . . 21,400 - Tota l Operatin g Expense. . . . . . . . . . . . . . . . . 54,105,700 $ 3.840,500 The accompanying notes are an Integral part of these financial statements. D-39 j l l l l \ i l
r CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT BALANCE SHEET i September 30 1988- 1987 ASSETS Current Assets: Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 2,900 $ 2,900 Equ i ty I n Poo l e d Ca s h. . . . . . . . . . . . . . . . . . . . . 792,500 831,100 Accounts Receivables Customers . . . . . . . . . . . . . . . . ... . . . . . . . .
87,100 70,600 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,500 64,300 inventory: Foss!! Fuel . . . . . . . , . . . . . . . . . . . . . . . . .- 16,600 17,600 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . 270,400 288,300 Tota l Curren t As sets. . . . . . . . . . . . . . . . . . . . 1,189,000 1,274,800 Fixed Assets: Flxed Assets - Cost. . . . . . . . . . . . . . . . . . . . . . '11,160,200 10,662,000 Less: Ac cumu l a te d De prec l a t ion. . . . . . . . . . . . . . . . (3,183,900) (2,701,500) Construction In Progress . . . . . . . . . . . . . . . ... . . 686,300 530,800 F i xe d As se t s - Ne t. . . . . . . . . . . . . . . . . . . . . 8.662,600 8,491,300 To ta l A s se t s . . . . . . . . . . . . . . . . . . . . . . . . $ 9,851,600 $ 9,766,100 l l LI ABILITIES AW FUto EQUITY Current Liabilities: j 1 Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . $ 47,300 .$ 48,900 Customer Advances ...................... 19,800 16,300 Due to Other Funds . . . . . . . .-. . . . . . . . . . ... . .- 2,900 2,900 Tota l Curren t L iab i l itie s. . . . . . . . . . . . . . . . . 70,000. 68,100 Other Llabilltles: Deferred Revenue . . . . . . . . . . . . . . . . . . . . . . . 7,300 7,300 Accrued Leave. . . . ..................... 152,200 133,300 Tota l Other L iabi l it ies . . . . . . . . . . . . . . . . . . 159,500 140,600 Total Liabilities . . . . . . . . . . . . . . . . . . . . . 229,500 20s,700 Fund Equity: Contributed Capital. . . . . . . . . . . . . . . . . . . . . . 9,679,300 9,677,200 Retained Earnings: Reserved for Projects. . . . . . . . . . . . . . . . . . . . 63,300 63,300-U n r e s e r ve d . . . . . . . . . . . . . . . . . . . . . . . . . (120,500) (183,100) To ta l F u n d E q u i ty . . . . . . . . . . . . . . . . . . . . . 9,622,100 9,557,400 Tota l L l ob i l l t les an d F un d Equ i ty. . . . . . . . . . . . . $ 9,851,600 5 9,766,100 0-40 The accompanying notes are an Integral part of these financial statements.
( i CITY OFTALLAHASSEE0 FLORIDA 8 TALLAHASSEE TRANSIT Fl#O ,J STATEMENT OF REVENUES, EFENSES AND 1 CHANGES IN RETAINED EARNINGS 1 i d Fiscal Year Ended September 30 1988 1987 '! Operating Revenues: { Transportation Fees . . . . . . . . . . . . . . . . . . . . $ 1,458,500 $1,319,500 j 1,458,500 1,319,500 Tota l Operat i ng Revenues. . . . . . . . . . . . . . . . . f I Operating Expenses: Personal Services . . . . . . . . . . . . . . . . . . . . . 2,576,800 2,339,000 1 Mater i a l s and Supp f le s. . . . . . . . . . . . . . . . . . . 752,500 366,800 i Contractual Services. . . . . . . . . . . . . . . . . . . . 379,800 671,300 Other Expenses. . . . . . . . . . . . . . . . . . . . . . . 107,200 73,900 .j Depreciation. . . . . . . . . . . . . . . . . . . . . . ... 489,500 552,900 j Total Operating Expenses. . . . . . . . . . . . . . . . . 4,305,800. 4,003,900 l Opera t i n g Lo s s. . . . . . . . . . . . . . . . . . . . . . (2,847,300) (2,684,400) Nonoperating Revenues (Expenses): Grant Revenue . . . . . . . . . .............. 678,500 770,000 O t he r Re ve n ue . . . . . . . . . . . . . . . . . . . . . . . 200 500 Loss on Sa le of Surplu s Property. . . . . . . . . . . . . . (26,000) (193,300) Other Expenses. . . . . . . . . . . . . . . . . . . . . . . - (77,700) Tota l Nonoperating Revenues . . . . . . . . . . . . . . . 652,700 499,500 Loss Be fore Operating Transfers . . . . . . . . . . . . . (2,194,600) (2,184,900) Operating Transfers -
)
Operating Transfers in. .................. 1,936,600 1,507,700 Operating Transfers (Out) . . . . . . . . . . . . . . . . . .
- (62,000)
Net (Loss). ....................... (258,000) (739,200) Disposition of Net locomes l Increase In Contributed Capital . . . . . . . . . . . . . . (160,000) (60,300) Depreciation on Contributed Assets. . . . . . . . . . . . . 480,600 544,500 Net (Decrease) In Reta ined Earnings . . . . . . . . . . . 62,600 (255,000) l Reta ined Earn in gs - October 1 . . . . . . . . . . . . . . . . (119,800) 135,200 Retained Earnings - September 30. . . . . . . . . . . . . . . $ (57,200) $ (119,800) l l l The accompanying notes are an Integral part of these financial statements. D-41
l CITY OF TALLAHASSEE, FLORIDA TALLMIASSEE TRANSIT FUND STATEMENT OF CHANGES IN FINANCIAL POSITION Fiscal Year Ended September 30 1988 198 7 Sources of Working Capital: Operations: Net income (Loss) ...................... $ (258,000) $ (739,200) (tems Not Requiring (providing) Working Capital: De prec I a t ion . . . . . . . . . . . . . . . . . . . . . . . . 489,500 552,900 Accr ue d Le a ve. . . . . . . . . . . . . . . . . . . . . . . . 18,800 4,900 Work ing Capital Provided by Operations . . . . . . . . . . 250,300 (181,400) Contributions . . . . . . . . . . . . . . . . . . . . . . . 322,800 131,900-244,800
~
Retirement of Plant in Service. . . . . ........... Tota l Sources of Working Cap ita l. . . . . . . . . . . . . . . 573,100 195,300 Uses of Working Capital: Acquisition of Plant in Service . . . . . . . . . . . . . . 660,800 64,900 Decrease in De ferred Revenue. . . . . . . . . . . . . . . . 500 Total Uses of Working Capital . . . . . . . . . . . . . . . 660,800 65,400 Net increase (Decrease) In Working Capital. . . . . . . . . $ (87,700) $ 129,900-Elements of Not increase (Decrease) In Working Capital: Eq u i ty i n Poo l e d Ca s h . . . . . . . . . . . . . . . . . . . . 5 (38,500) $ 48,800 Ac cou n t s Re ce i va b l e . . . . . . . . . . . . . . . . . . . . . (28,300) 6,100 i n ven tary . . . . . . . . . . ................ (19,000) 20,700 Ac cou n t s P a y a b l e . . . . . . . . . . . . . . . . . . . . . . . 1,600. 18,600 Cus tomer Ad vance s . . . . . . . . . . . . . . . . . . . . . . (3,500) 35,700 Net increase (Decrease) In Working Capital. . . . . . . . . $ (87,700) $ 129,900 l D-42 The accompanying notes are an Integral part of these financial statements.
~l 1
i CITY OF TALLAHASSEE. FLORIDA q I TALLAHASSEE TRANSIT FUND .I SCHEDULE OF OPERATING EXPENSE 1 1 Fiscal Year Ended September 30 f 1988 198 7 Administrative and General Personal Services. . . . . . . . . . . . . . . . . . . .
$ 204,400 $ 265,600 Con tractua l Ser vices . . . . . . . . . . . . . . . . . . . 278,100 255,500: l Materials and Supplies . . . . . . . . . . . . . . . . .- 13,300 13,000 Other. . . . . . . . . . . . . . . . . . . . . . . . ... 97.800 72,000 593,600 606,100 Operations:
Personal Services. . . . . . . . . . . . . . . . . . . . 1,922,800 1,656,300' Con t ractua l Ser vices . . . . . . . . . . . . . . . . . . 166,600 '130,500 1 Materials and Supplies . . . . . . . . . . . . . . . . . 332,200 315,200 j Other. . . . . . . . . . . . . . . . . . . . . . . . . . 7.800 800 2,429,400 2.102.800 'l Maintenance: f Personal Services. . . . . . . . . . . . . . . . . . . . 449,600 417,100 j n Contractua l Ser vices . . . . . . . . . . . . . . . . . . 307,900 285,300 - l Materials and Supplies . . . . . . . . . . . . . . . . . 34,200 38,600 q Other. . . . . . . . . . . . . . . . . . . . . . . . . . 1,600 1,100 l 793,300 742.100 Depreciation . . . . . . . . . . . . . . . . . . . . . . . 489,500 552.900 i Total Operating Expense ............... $4,305,800 54,003,900 l l 1 l l l i The accompanying notes are an Integral part of these financial statements. D-4 3
i CITY OF TALLAHASSEE. FLORIDA J SOLID WASTE FUND BALANCE SHEET September 30, 1988 1 i ASSETS Current Assets: Equ i ty . In Poo l ed Ca s h . . . . . . . . . . . . . . . . . . . . . . . $ 54,500 Accounts Rece'Ivables Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . 448,000 Other . ..-........................... 107,600 Less: Al lowance for Doubtf ul Accounts. . . . . . . . . . . . . . (31.300) 3 578,800 Total Current Assets. . . . . . . . . . . . . . . . . . . . . . ] y J Fixed Assets: F i xe d A s sets - Co s t . . . . . . . . . . . . . . . . . . . . . . . . 1,852,300 Less: Ac cumu l a te d De prec i a t i on . . . . . . . . . . . . . . . . . . (1,379,700). .j l F i xe d A s se ts - Ne t. . . . . . . . . . . . . . . . . . . . . . . . 472,600 Tctal Assets. . . . . . . . . . . . .'. . . . . . . . . . . . . $ 1,051,400 I l l l l l l LI ABILITIES AND FUND EQUITY Current Liabilities: A c cou n t s P a y a b l e . . . . . . . . . . . . . . . . . . . ' . . . . . . . $ 198,500 Tota l Current L iab i l it ies . . . . . . . . . . . . . . . . . . . 198,500 l Other Liabilities: , 1 Accrued Leave . . . . . .... .................. 247,400 ] Tota l Other Li abi lities . . . . . . . . . . . . . . . . . . . . 247,400 Tota l L l ab i l i t ies . . . . . . . . . . . . . . . . . . . . . . . 445,900 Fund Equity: Con tr i bu te d Ca p i t a l . . . . . . . . . . . . . . . . . . . . . . . . 788,300 Retained Earnings (Deficit): Unreserved . . . . . . . . . . . . . . . . . . . . . . . . . . . . (182,800) l To t a l F un d Equ i ty . . . . . . . . . . . . . . . . . . . . . . . 605,500 j Total Ll ab!I ltles and Fund Equity . . . . . . . . . . . . . . . $ 1,051,400 l l 1 3 D-44 The accompanying notes are an Integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA SOLID WASTE FUND STATENENT OF REVENUES, EXPENSES AND OlANGES IN RETAINED EARNINGS Fiscal Year Ended September 30, 1988 Operating Revenuet Charges for Services Residential Collection . . . . . . . . . . . . . . . . . . . . . $ 3,567,600 Commercial Collection. ..................... 2,989,500 Totel Operating Revenues . . . . . . . . . . . . . . . . . . . 6.557.100 Operating Expenses: Personal Services . . . . . . . . . . . . . . . . . . . . . . . . . 2,537,100 Materials and Supplies. . . . . . . . . . . . . . . . . . . . . . . 57,900 Contractual Services. . . . . . . . . . . . . . . . . . . . . . . . 5,293,000 Other Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . 203,800 Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . 172,200 Total Operating Expenses . . . . . . . . . . . . . . . . . . . . 8,264.000 Operating Loss . . . . . . . . . . . . . . . . . . . . . . . . . (1,706,900) Operating Transfers in (Out): Operating Transfers in. . . . . . . . . . . . . . . . . . . . . . . 1,524,100 Ne t L o s s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (182,800) Reta i ned Earn ings - October 1 . . . . . . . . . . . . . . . . . . . . - Retained Earnings (Deficit) - September 30. . . . . . . . . . . . . . 5 b82,800) The accompanying notes are an Integral part of these financial statements. D-45
CITY OF TALLAHASSEE. FLORIDA SOLIO WASTE FUDO'
' STATEMENT OF CHNIGES IN FINANCIAL POSITION Fiscal Year Ended September 30, 1988 Sources of Working Capital:
Operations: NetLoss................................ 1 (182,800) ltems Not Requiring (providing) Working Capital: Depreciation . . .'. . . . . . . . . . . . . . . . . . . . . . . . . 172,200-
. Accrued Le a ve. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . - 247,400 Work ing Capi ta l Provided by Operations. . . . . . . . . . . . . . . . 236,800 -
Contributions .'. . . . . . . . . . .'. . . . . . . . . . . . . . . . 788,300 Tota l Sour ces of Work ing Cap ita l . . . . . . . . . . . . . . . . . . 1,025,100 Uses of Working Capital: Acq ui s it ion of F lxed As sets . . . . . . . . . . . . .. . . . . . . . . 644,800 Tota l Uses of Working Capita l . . . . . . . . . . . . . . . . . . . 644,800 Net i n crease in Work ing Capita l . . . . . . . . . . . . . . . . . . 1 380,300 Elements of Net increase in Working Capital: Equity I n Poo l e d Ca s h . . . . . . . . . . . . . . . . . . . . . . . . $ 54,500-
' Accoun t s Rece i va b l e . . . . . . . . . . . . . . . . . . . . . . . . . 524,300 Ac cou n ts Pa y ab l e. . . . . . . . . . . . . . . . . . . . . . . . . . . (198,500)
Ne t i ncrease Work ing Cap ita l . . . . . . . . . . . . . . . . . . . . ; $. 380,300 1 l l l l l l l l D-46 The accompanying notes are an Integral part of these fInancIsl statements. I
;p-
CITY OF TALLAHASSEE, FLORIDA SOLID WASTE FUIO SciEDULE OF OPERATING EXPENSE Fiscal Year Ended September 30, 1988 Administrative and General Personal Services. . . . . . . . . . . . . . . . . . . . . . . . . . $ 500,000 Con tr actua l Ser v i ces . . . . . . . . . . . . . . . . . . . . . . . . 1,801,500 Materials and Supplies . . . . . . . . . . . . . . . . . . . . . . .. 38,300 Other. . . . . . . . . . . ... . . . . . . . . . . . . ....... 203,800 2.543,600 Residential Collection: Personal Services. . . . . . . . . . . . . . . . . . . . . . . . . . 1,265,300 Contractual Services . . . . . . . . . . . . . . . . . . . . . . . . 1,773,600 Ma ter i a l s and Supp l ies . . . . . . . . . . . . . . . . . . . . . . . 19,600 3,058,500 Commercial Collection: Personal Services. . . . . . . . . . . . . . . . . . . . . . . . . . 771,800 Contractual Services . . . . . . . . . . . . . . . . . . . . . . . . 1,717,900 2,489,700 Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172,200 Total Operating Expense. . . . . . . . . . . . . . . . . . . . . . $ 8.264,000 l l 1 i l I l D-4 7 The accompanying notes are en integral part of ttiese financial statseonts.
CITY OF TALLAHASSEE, FLORIDA GOLF COURSE FUND BALANCE SHEET September 30, 1988 ASSETS Current Assets: E q u i ty I n Poo l e d Ca s h . . . . . . . . . . . . . . . . . . . . . . . . 1 9,400 Accounts Re elvable Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 I n ve n to ry . . . . . . . . . . . . . . . . . . . . . . . - . . . . . . . 35,900 Tota l Cur rent As se ts. . . . . . . . . . . . . . . . . . . . . . 45,400 Fixed Assets: Fixed Assets - Cost . . . . . . . . . . . . . . . . . . . ... . . . . . 1,645,200 Less: Accumu l ated Deprec lation . . . . . . . . . . . . . . . . . . . (225,500) F lxed Assets - Net. .'....................... 1,419,700 Total Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,465,100 LI ABILITIES MID FUND EQUITY Current Liebilltles: Accounts Pay eb le. . . . . . . . . . . . . . . . . . . . . . . . ... . $ 1,300 Tota l Current Ll ab i l i ties . . . . . . . . . . . . . . . . . . . . 1,30 0 Other Liabilltles: A c cru e d L e a ve . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,700 Tota l Othe r L l a b i l l t les . . . . . . . . . . . . . . . . . . . . . 24,700 To ta l L i ab i l i t ies . . . . . . . . . . . . . . . . . . . . . . . . 26,000 Fund Equity: Contributed Capital . . . . . . . . . . . . . . . . . . . . . . . . . 1,492,000 Retained Earnings (Deficit): Unreserved . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (52,900) Tota l F un d Equ i ty . . . . . . . . . . . . . . . . . . . . . . . . 1,439,100 Total Liabil ities and Fund Equity . . . . . . . . . . . . . . . . $ 1,465,100 D-48 The accompanying notes ere an Integral part of these financial statwoonts. 9 -_________.___.__.m.___. _ _ . _ _ _ _ _ _ _ _ _ _ _ . _ _ _ _ _ _ _ _
1 1 1 1 l CITY OFTALLAHASSEEa FLORIDA l GOLF COURSE FUPO STATEMENT OF REVENUES, EFENSES AND 04ANGES IN RETAINED EARNINGS Fiscal Year Ended September 30, 1988 Operating Revenue: Charges for Services Greens Fees. . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 360,')00 Golf Cart Fees . . . . . . . . . . . . . . . . . . . . . . . . . . 200,400 P r o S hop Sa l e s . . . . . . . . . . . . . . . . . . . . . . . . . . 82,800 An n u a l Go l f Fee s . . . . . . . . . . . . . . . . . . . . . . . . . 62,800' Driving Range Fees . . . . . . . . . . . . . . . . . . . . . . . . 30,600 Concessions. . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,700 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , 39,700 Tota l Opera ti n g Re ven ues . . . . . . . . . . . . . . . . . . . . , 795,000 Operating Expenses: Pe rs on a l Se rv i ce s . . . . . . . . . . . . . . . . . . . . . . . . . . 548,300 Ma ter i a l s an d Supp l ie s. . . . . . . . . . . . . . . . . . . . . . . . 71,000 Contractual Services. ........................ 328,500 Ot h e r Expe n s e s . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,200 Depreclat ion. ............................ 48.400 Total Operating Expenses . . . . . . . . . . . . . . . . . . . . . 1,018.400 Operating Loss . . . . . . . . . . . . . . . . . . . . . . . . . . (223,400) Nonoperating Revenues (Expenses): . O t her Re venue . . . . . . . . . . . . . . . . . . . . . . ..... . 400 O t he r E xpe n s e s. . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,500) l Total Nonoperating Revenues (Expenses). .... .......... (2,100) Los s Be fore Opera ti ng Trans fers . . . . . . . . . . . . . . . . . . . (225,500) l Operating Transfers in (Out): l Operating Tran s f ers i n. . . . . . . . . . . . . . . . . . . . . . . . 233,000 Operating Transfers (Out) . ..................... (60,400) Net Loss. .................... .. ...... . (52,900) Re t a i ne d Ear n i n g s - October 1 . . . . . . . . . . . . . . . . . . . . . Retained Earnings (Deficit) - September 30. .............. 1 (52,900) l l l l 1 l l The accompanying notes are an Integral part of these financial statements. D-49 l l
CITY OF TALLAHASSEE, FLORIDA GOLF COURSE FUND STATEMENT OF CHANGES IN FINANCIAL POSITION Fiscal Year Ended Seotember 30, 1988 Sources of Working Capital: Opera tions: NetLoss................................. 1 (52,900) items Not Requiring (providing) Working Capital: Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,400 Accr ue d Le a ve. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,700 Work ing Capital Provided by Operations. . . . . . . _ . . . . . . . . . . 20,200 Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,492,000 Total Sources of Working Capital. .................. 1,512.200 Uses of Working Capital: Acq u i s i t ion of F !xed A s sets . . . . . . . . . . . . . . . . . . . . . . 1,468.100 Total Uses of Working Capital . . . . . . . . . . . . . . . . . . . . 1,468,100 Net i ncrease In Work ing Capi ta l . . . . . . . . . . . . . . . . . . . 1 44,100 Elements of Net increase In Wrking Capital: Equity In Poo l ed Ca sh . . . . . . . . . . . . . . . . . . . . . . . .. $ 9,400 Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . 100 inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35,900 Acc ount s Pa y ab l e. . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,300) Net i ncrease In Work ing Cap i ta l . . . . . . . . . . . . . . . . . . . $ 44,100 1 D-50 The accompanying notes are an Integral part of these financial statements.
~ CITY OF TALLAHASSEE FLORIDA'.
GOLF COURSE FUND SCHEDULE OF OPERATING DIPENSE Fiscal Year Ended September 30, 1988 Administrative and General Personal Services. . . . . . . . . . . . . . . .-. . . . . . . . . 5 144,100 Con tr a ctua l Ser v i ce s . . . . . . . . . . . . . ' . . . . . . . . . . 44,100 Other. .'. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,500 208,700 H1taman: Personal Services. . . . . . . . . . . . . . . . . . . . . . . . . 276,400 Contractual Services . . . . . . . . . . . . . . . . . . . . . . . 234,600' ' Mater ia l s and Supp l ies . . . . . . . . . . . . . . . . . . . . . . . 61,000 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . 1,600 573,600 Gaither Personal Ser91ces. . . . . . . . . . . . . . . . . . . ... . . . . 127,800 Con tr actua l Ser v ices . . . . . . . . . . . . . . . . . . . . . . . 49,800 Materl,is and Supplies . . . . . . . . . . . . . . . . . . . . ,, . 10,000 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 187.700 Depreci ation . . . . . . . . ................... 48,400 I J To ta l operat ing Expen se. . . . . . . . . . . . . . . . . . . . . . . $ 1,018,400 ' i 1 l 1 i
~l i
e The accompanying notes are en Integral part of these financial statements. D-51
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'l l
i INTERNAL SERVICE FUNDS 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 operations. Accounting Fund-to account for the costs of the City's accen. ting operations. 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 replacement of automotive equipment used by City departments. Human Resources Fund-to account for the costs of the City's human resource operation. Pension Administration Fund-to account for the costs of administering the City's pension plans. Risk Management Fund-to account for the costs of the City's Risk Management operation. Communications Fund-to account for the costs of the City's radio and telecommunications operation.
I THl$ PAGE INTENTIONALLY LEFT 9 LANK
CITY OFTALLAHASSEE FLORIDA 3 INTERNAL SERVI E FUlmS C00elNile; BALANCE SHEET September 30, 1988
. Reading Billing and . Data ., ..
Centrol Collection Processing ' Accounting S tores . Purchssin g a ASSETS Current Assets: Cash ........... $ 11,200 $ - i Equity in Pooled Cash . . . 914,200 1,203,800 593,600 627,500 112,300 Accounts Receivable ... . . 600 - 1,200 100 100 Owe from Other Funds. . . . 45,200 - - - Deposits... . . . . . . . . 6,500 - -- ' - - - i n ven tory . . . . . . . . .
- - - 2,059,500 20,000-Total Current Assets. . . .
977,700 1,203,800 594,800 2,687,100 132,400 Restricted Assetst . Equity in Pooled Cash . . . - - Total Restricted Assets . - - - 1 F ixed Assets. . . . . . . . . 210,800 360,200 82,000 324,600 27,600 ] (8,600) Less Accumulated Depreciation (112,300) (111,400) (33,200) (106,700)~ Net Fixed Assets. . . . . . 98,500 248,800 48,800 217,900 19,000 ~ Total Assets. . . . . . . . $1,076,200 - $1,452,600 $ - 643,600 $2,905,000 $ 151,400 LI A0lLITIES AND FUND EQUITY Current Liabilities: Accounts Payable. ..... $ 1,400 $ -
$ 700 $ 85,900 $ 1,000 Claims Payable - Current. . - - - -
Total Current Liabilities 1,400 - 700 85,900 1,000 Other Liabilities: Claims Payable /Non-Current. - - - - - Accrued Lea ve . . , . . . . 203,700 144,400 96,300 18,900 25,000 Total Llab!Iltles . . . . 205,100 144,400 97,000 104,800 26,000 Fund Equity: Contributed Capital . . . . - Retained Earnings: Reserved fors ] Fleet Management. ... - - - - Pro ject s. . . . . . . 239,300 786,600 490,200 - -- Unreserved. . . . . . . . 631,800 521,600 56,400 2,800,200 125,400 Total Fund Equity . . . 871,100 1,308,200 546,600 2,800,200 125,400
.]
Total Llabilltles and Fund Equity . . . . . $1,076,200 $1,452,600 $ 643,600 . $2,905,000 $ 151,400-i i i E-2 The accompanying notes are en latogral part of these financial statements.
\ J
__.____._.-___J
s CITY OF TALLAHASSEE, FLORIDA - INTERNAL SERVIE FUNDS COMBINING BALANCE SHEET September 30, 1988 (Continued) l Pensjon Risk Totals j Human - Admin- Manage- Communi- September September ]' Garage Resources Istration -ment cation 30, 1988 30,1987
$ - $ - $ 11,200 $ 12,100 860,400 234,000 35,500 4,568,100 35,700 9,185,100 10,107,700 9,200 - - 13,800 - 25,000 68,600
-- - - - - 45,200 45,200 ,
- - - - - 6,500 6,500 249,100 - - - - 2,328,600 2,232,100 1,118,700 234,000 35,500 4,581,900 35,700 11,601,600 12,472,200-l 7,558,800 - - - - 7,558,800 3,036,200 7,558,800 - - - - 7,558,800 3,036,200 17,488,300 65,600 7,400 5,200 372,800 18,944,500 16,354,400 ,
(8,048,000) (32,400) (3,100) (2,100) (232,800) (8,690,600) (7,655,400) l 9,440,300 33,200 4,300 3,100 140,000 10,253,900 8,699,000 i
$18,117,000 $ 267,200 $ 39,000 $ 4,585,000 $ 175,700 $29,414,300 $2 4,207,400 l
$ 37,900 $ 100 $ 6,500 $ - 5 - $ 133,500 $ 144,900
- - - 1,522,500 - , 1,522,500 1,078,900
]
37,900 100 6,500 1,522,500 - 1,656,000 1,223,800 J
- - - - - - 83,900 137,800 69,100 8,600 5,400 27,700. 736,900 641,400 175,700 69,200 15,100 1,527,900 27,700 2,392,900 1,949,100 3,437,600 - -
893,500 129,000 4,460,900 3,670,400 7,558,800 - - - - 7,558,800 3,036,200 l 1,516,100 1,711,000' 6,945,700 198,000 24,700 2,163,600 18,200 13.485,600 13,840,700 17,942,100 198,000 24,700 3,057,100 148,000 27,021,400 22,258,300 )
$ 18,117,800 $ 267,200 $ 39,800 $ 4,585,000 $ 175,700 $29,414,300 $24,207,400 j l
l = i
-)
l l The accompanying notes are an Integral part of these financial statements. E-3 I
i CITY OF TALLAHASSEE FLORIDA 1 INTERNAL SERV 1 FUNDS (DMBINING STATEENT OF REVENUES,. E)G'ENSES, AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ending September 30, 1968 l Reading Billing and Data . Central .l Collection Processing Accounting Stores Pur chasIn g i Operating Revenues: Charges for Service. . . . . . $4,622,100 $2,535,100 $1,630,600 $4,2 51,900 $ 635,400 i
- - - - -- I Miscellaneous. . . . . . . . .
Total Operating Revenues . . 4,622,100 2,535,100 1,630,600 4,251,900 635,400 4 Operating Expenses l Personal Services. . . . . . . 2,398,800 1,228,300 1,076,300 153,500 302,100 j l Contractual Services . . . . . 2,411,300 805,400 657,400 3,963,300 56,600 Materials and Supplies . . . . 28,400 8,000 10,900 46,700 130,000 Other. . . . . . . . . . . . . 50,900 730,400 28,000 5,700 55,200 i Depreciation . . . . . . . . . 15,400 33,100 7,800 7,900 3,100 Total Operating Expenses . . 4,904,800 2,005,200 1,780,400 4,177,100 547,000 J Operating income (Loss). .... (292,700) (270,100) (149,800) 74,800 t,8,4 00 J i Non-operating Revenuesi Interest Revenue . . . . . . . Oain on Sale of Property . . . Other. ............ - - - - l Total Non-operattn; Revenues - - -- - - l - Income Before Operating Transfers (202,700) (270,100) (149,800) 74,800 88,400 Operating Transfers in . . . . . 91,900 7,800 345,100 - -- l Operating Transfers (Out). ... (200) (9,000) - (3,400) (251,900) j l l Net income . . . . . . . . . . . (191,000) (271,300) 195,300 71,400 (163,500) 1 Retained Earnings - October 1. . 1,062,100 1.579,500 351,300 2,728,800 288,900 l Retained Earnings - September 30 $ 871,100 $1,308.200 $ 546,600 $2,800,200 $ 125,400 I 1 l E-4 The scoompanying notes are en Integral part of these financial statements. l..
CITY OF TALLAHASSEE FLORIDA 0 INTERNAL SERVIE FINOS COMBINING STATEMENT OF REVENUES, EFENSES, AND 9844GES IN RETAINED EARNINGS For the Fiscal Year Ending September 30, 1988 (Continued) Pension Risk Totals Human Admin- Managet. Communf- September September Garage Resources Istration ment estion 30, 1988 30, 1987
$ 9,344,600 $1,214,900 $ 219,100 $1,854,000 $ 421,200 $26,728,900 $22,077,700
- - - - - 3,500 9,344,600 1,214,900 219,100 1,854,000 421,200 26,728,900 22,081,200 1,354,500 729,300 80,400 103,000 278,300 7,704,500 6,706,200 2,925,400 195,400 110,800 6,500 61,400 11,193,500- 10,030,400 l 63,500 16,700 1,500 1,100 34,200 341,000 163,000 133,000 13,500 4,600 2,013,300 5,800 3,040,400 3,791,200 1,523,100 6,400 800 400 22,800 1,620,800 1,277,600 5,999,500 % 1,300 198,100 2,124,300- 402,500 23,900,200 21,968,400 .
3,345,100 253,600 21,000 (270,300) 18,700 2,828,700 112,800 426,400 - - 225,900 - 652,300 415,800 74,100 - - - - 74,100 79,700
-- - - - - - 70,100 500,500 - - 225,900 - 726,400 565,600 3,845,600 253,600 21,000 (44,400) 18,700 3,555,100 678,400 6,000 - - 1,101,800 900 1,553,500 2,670,400 l
- (206,300) - (663,800) (1,400) (1,136,000) (122,600) 3,851,600 47,300 21,000 393,600 18,200 3,972,600 3,226,200 10,652,900 150,700 3,700 1,770,000 - 18,587,900 15,361,700
$14,504,500 $ 198,000 $ 24,700 $ 2,163,600 $ 18,200 $22,560,500 $ 18,58 7,900 The armapanying notes are an Integral part of these financlel statements. E-5
\
CITY OF TALLAHASSEE, FLORLCA 1NTERNAL SERVICE Fut()S COMBINING STATEMENT OF OlANCES IN FINANCIAL POSITION . For tie Fiscal Year Ending September 30, 1988 I l Reading 8 tiling and Det> Central Collection Processing Accounting Stores Pur cha si n g i Sources of Working Capital: Operations: Net income (Loss). ...... $(i91,000) $ (271,300) $ 195,300 $ 71,400 $ (163,500) Items not Requiring Working Capital: Depreciation . ........ 15,40C 33,100 7,800 7,900 3,100 Claims Payable - Non-current . - - - - -- Accrued Leave. . . . . .... _ 800 18,300 16,300 1,200 9,100 l Working Capital Provided (Used) by Operations. . . . . . . . . (174,800) (219,900) 219,400 80,500 (151,300) Con tr i but ion s. . . . . . . . . . Decrease in Restricted Assets. . Increase Accrued Leave . . . . . - - - - -- Retfrement of Ffxed Assets . . . - - 2,000 500 Total Sources of Working Capital. . . . . . . . . . . . (174,800) (219,900) 219,400 82,500 (150,800) Uses of Working Capital: Acquf sition of Fixed Assets. . 14,900 48,900 2,100 - 1,700 Reduction in Cla ims Payable. . . - Increase In Restricted Assets. - - - - - Total Uses of Working Capital 14,900 48,900 2,100 - 1,70 0 Not Increase (Decrease) In Working Capital. . . . . . $(189,700) $ (268,800) $ 217,300 $ 82,500 $ (152,500) Elements of Net increase (Decrease) In Working Capital: l Cash. ............ $ (800) $ - Equi ty in Pooled Cash . . . . (189,100) (268,800) 216,800 (36,900) (145,600) Accounts Recef vable . . . . . 600 1,200 - - Due from Other Funds. . . . . I nventory .......... - - - 100,100 (10,900) Accounts Payable. . . .... (400) - (700) 19,300 4,000 Claims Payable - Current. .. - - - - - j Net increase (Decrease) In Working Capital. . . . . . . . $(189,700) $ (268,800) $ 217,300 $ 82,500 $ (152,500) E-6 The accompanying notes are en integral part of these financial statements.
CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVIE FUM)S COMBININO STATEMENT OF OMNGES IN FINANCI AL POSITION For the Fiscal Year Ending September 30, 1988 .
-(Continued)
Pension Risk Totals Human Admin- Manage- Commun t-' September September
]
Garage Re sources !stration ment cation 30, 1988 30, 1987 1 3,851,600 $ 47,300 $ 21,000 1 393,600 $ 18,200 $3,972,600 $ 3,226,200 I i 1,923,100 6,400 800 400 22,800 1,620,800 1,277,600
- - - - - - 83,900 l 19,400 5,600 1,500 (4,600) 1,900 69,500 69,600 5,394,100 59,300 23,300 389,400 42,900 5,662,900 4,657,300 j 660,700 - - - 129,800 790,500 2,048,300 {
^
- - - - -~ - 1,009,900
-- - - - 25,800 25,800 -
68,100 - - - - 70,600 27,900 6,122,900 59,300 23,300 389,400 198,500 6,549,800 7,743,400 ) i 3,014,900 1,100 - - 162,800 3,246,400 2,880,700
-- - - 83,900 - 83,900 -
4,522,600 - g, - - 4,522.600 -- 7,537,500 1,100 - 83,900 162,800 7,852,900 2,880,700 j
- j
$(1,414,600) $ 58,200 $ 23,300 3, 305,500 $ 35,700 $(1,303,100) $ 4,862,700 I -
$ -$ (800) $ (51,700)
(1,368,400) 58,300 23,300 752,100 35,700 (922,600) 5,860,100 (42,500) - - (3,000) - (43,700) 63,300 l
- - - - - - (33,900) 7,100 (100) - - - 96,200 189,000 (10,800) - - - -
11,400 (85,200)
- - - (443,600) - (443,600) (1,078,900) $(1,414,600) $ 58,200 $ 23,300 $ 305,500 $ 35,700 $(1,303,100) $ 4,862,700 l
l The accompanying notes are en Integral part of these f fnencist statements. E-7
----2-- - - -2_.m___. _m__
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=-_-_=__-______-_____-_________ _
TRUST AND AGENCY FUND ) l l Pension Trust Fund l 1 i Defined Benefit and Contribution Plan-The City Employees' Pension Plan is used to account j for the accumulation of resources to be used for retirement annuity payments, at appropriate j 8 amounts and times in the future, and predicated on the amount contributed, for City employees. Shared Plan-The Police Officer and Fire Fighter Share Plans are used to provide additional' benefits for the police officers and firefighters who are in the regular and permanent employ-ment of the City. Expendable Trust Funds Special Capital Projects Fund-to provide a means of financing long-term Capital Projects while minimiz!ng impact on the Operating Budget. Deficiencies and Emergencies Fund-to provide for unforeseen expenditures of an emergency j nature. l 1 Stadium 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 End 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 l growth. l Nonexpendable Trust Fund Cemetery Perpetual Care Fund-to accumulate resources for the perpetual maintenance of the City's cerneteries. Agency Fund Deferred Compensation Fund-to account for assets held by the City as agent for City employees. _ -____________--_a
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CITY OF TALLAHASSEE, FLORIDA PENSION TRUST AND NONEXPOSAELE TRUST FtHOS CopelNING STATEENT OF REVENUES, EXPENSES AND CHANGES IN FUfD BALANCES For the Fiscal Year Ended September 30, 1988 Pension Nonexpendable Trust Funds Trust Fund City Police. Fire Employees' Officers' Fighters' Cemetery Totals Pension Share Share Perpetual September September . Plan Plan Plan Care 30, 1988 30,1987 barating Revenuess Inesstment income. ...... $. 7,016,700 $ - 5- 44,600 $ 7,061,300 $ 8,423,000 l I n vestmen t - Ga i n s Het . . . . 10,701,800 - - - 10,701,800. 14,314,600 l C i ty Con tr i bu t t on. . . . . . . 7,477,700 - - - 7,477,700 6,802,300 l Employse Contribution. . . . . 5,246,600 - 5,246,600 -4,688,200'- State Contribution . . - 856,500 513,800 - 1,370,300 101,600 Mtscallaneous. . . . . . . . . 12,100 - - 33,800 45,900 21,800 Total Operating Ravanues . . . . . . . . . 30,454,900 856,500 513,800 78,400 31,9 03,600 34,151,500 fpsrating Expenses: l Bena f f t Payments . . . . . . . 3,752,400 - - - 3,752,400 3,264,000 i Re f un d s. . . . . . . . . . . . 1,131,500 - - - ' 1,131,500- 953,800 l Insurance. . . . . . . . . . . 13,200 - - - 13,200 25,100 l Administrative . . . . . . . . 779,300 - - - - 779,300 686,200 i Total Operating l Expsnses . . . . . . . . . 5,676,400 - - - 5,676,400 4,929,100 b t income . . ......... 24,778,500 856,500 513,800 78,400 26,227,200 29,222,400 1 1 kd Balances - ! October 1 .......... 128,785,900 - - 551,200 129,337,100 100,114,700 fund Balances - September 30 . . . . . . . . . $153,564,400 $ 856,500 $ 513,800 $ 629,600 $155,564,300 $ 129,337,100 l l l l l l l l l The accompanying notes are an Integral part of these financial statements. F-3
CITY OF TALLAHASSEE, FLORIDA I i PENSION TRUST MO NONEXPENDAm.E TRUST FUNDS ! COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION For the Fiscal Year Ended September 30,'1988- j Pension' Nonexpen dabl e l Trust Funds ' Trust Fund City Police Fire Encloyees' Offleers' Figh ters' Cemetery Totals Pension Share Share Perpetual September September Plan Plan Plan- Care 30, 1988 30,1981 Sourcss of Working Capital: Op* rations: Nat i n come . . . . . . . . . . . 124,778,500 $ 856,500 $ 513,800 $ 78,400 $26,227,200 $29,222,47 Dscrease in Long-term Portion o f Note Receivab le. . . . . . . 223,900 - - - 223,900 35,00( Net increase in Working Capital . . . . . . . . . . $25,002,400 $ 856,500 $ 513,800 $ 78,400 $ 26,4 51,100 $ 29,2 57,404 I Elements of Net increase In ' Working Capitals _ _
$ 9,778,200 $ 5,8 50,6 Equity in Pooled Cash . . . . . $ 9,699,800 . $ - -
$ 78,400 in vestmen ts at Cost . . . . . . 15,318,500 - - - 15,318,500 23,330,80 3 Accrued Interest Receivable (2,700) - - -- . (2,700) (10,8%
Accounts Rece ivable . . . . . . (13,200) - - - (13,200) 86,70' Oue from Other Government . . . - 856,500 513,800 - 1,370,300-Accounts Payable. . . . . . . . - - - - - 10! Net increase in Working . . Capital . . . . . . . . . . 125,002,400 $ 856,500 $ 513,800 $ 78,400 $ 26,4 51,100 $29,257,4R 1 1
)
F-4 The accompanying notes are en Integral part of these financial statements. i _.,.._.-__--_A
CITY OF TALLAHASSEE, FLORIDA EXPENDAELE TRUST FIM)S COMBINING STATEENT OF REVENUES, EXPE)E)lTURES AND CHANGES IN FUND BALANCE For the Fiscal Year Ended September 30, 1988 Spectal Deffclencies Downtown Totals Capital and Improvement September . September Projects Emergencies Stadlum Author ity 30, 1988 30, 1987 Ravenues: Taxes. ... . . . . . . . . 1
$ 77,200 $ 77,200 $ 71,300 Intergovernmental Revenues . - 835,700 47,200 - 882,900 56,000 Charges for Services . . . . - - 23,300 - 23,300 19,600 Interest . . . . . . . . . . 966,300 749,800 3,400 15,800 1,735,300 1,710,100 M t sc e l l a neou s. . . . . . . . - -
200 42,600 42,800 96,000 Tota l Revenues . . . . . . % 6,300 1,585,500 ,74,100 135,600 2,761,500 1,953,000 Expenditures: Currsn t: General Government. . . . . - - - 74,600 74,600 68,500 Culture and Recreation. . . - - 72,500 - 72,500 75,700 Total Expenditures . . . - - 72,500 74,600 147,100 144,200 Excess Revenues Over (Under) Expenditures. . 966,300 1,585,500 1,600 61,000 2,614,400 1,808,800 Othsr Financing Sources (Uses): Opsrating Transfers in . . - 506,700 - - 506.700 664,000 Opsrating Transfers (Out). (967,700) - (2,600) (970,300) (4,580,000) Total Other F inancing Sources. . . . - (461,000) - (2,600) (463,600) (3,916,000) l Excess of Revenues and l Other Sources (Uses) Over(Under) Expenditures 966,300 1,124,500 1,600 58,400 2,150,800 (2,107,200) Fund Balances - October 1. . 12,841,600 10,702,000 66,000 147,600 23,757,200 26,757,900 l (893,500)
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l - - - Residual Equity Transfer . . Fund Balances - September 30 $13,807,900 $11,826,500 $67,600 $ 206,000 $25,908.000 $23,757,200 The accompanying notes are an Integral part of these financ?al statements. F-5 E_
CITY OF TALLAHASSEE, FLORIDA DEFERRED CXM'ENSATION FUM) STATEMENT OF QiANGES IN ASSETS AM) LIABILITIES For Fiscal Year Ended September 30, 1968 Balance Balance October 1, 1987 Addi tions Deductions September 30, 1988 l ASSETS i investments . . . . . . . . . $ 2,574,000 $ 599,000 $ 139,000 $ 3,034,000 - l Total Assets. . . . . . . . $ 2,574,000 $ 599,000 $ 139,000 $ 3,034,000 LIABILITIES i Deferred Compensation Payable $ 2,574,000 $ 599,0*0 $ 139,000 $ '3,034,000 i' Total Liabilities . . . . . $ 2,574,000 $ 599,000 $ 139,000 $ 3,034,000 1 I s i l , F-6 The accompanying notes are an Integral part of these financial statements. l 1
CITY OF TALLAHASSEE. FLORIDA SCHEDULE OF GDIERAL FlXED ASSETS - BY SOURCES September 30 q 1988 1987 i General Fixed Assets: Land. ............................. $ 8,275.100 $ 6,920,000 g Buildings . . . . . . . . . . . . . . . . . . . . . . . . . . 19,673,300 - 20,247,100 1 1 Improvements other than Bu il di ngs . . . . . . . . . . . . . ' . . 3,948,800 4,894,400 Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,225,800 11,937,700 ] j Con s truct ion i n Progres s. . . . . . . . . . . . . . . . . . . . 11,926,800 10,789,700 _j Tota l Genera l F i xe d As sets . . . . . . . . . . . . . . . . . . 354,049,800 154,788,900 ) Investment in General Flxed Assets from: General Revenue Bonds . . . . . . . . . . . . . ... . . . . . . 128,872,000 $22,025,000 Genera l Fun d Re ven ues . . . . . . . . . . . . . . . . . . . . . 15,751,200 17,655,600 Grants . . . . . . . . . . . . . . . ............. . 4,539,500 4,539,500 Cap i ta l I mprovement Fun d. . . . . . . . . . . . . . . . . . . . 4,130,400 9,840,200 Gifts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 453,100 453,100 l S t a d l um F un d. . . . . . . . . . . . . . . . . . . . . . . . . . 275,500 275,500.
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Stormwater Fund . . . . . . . . . . . . . . . . . . . . . . . . 28,100 - Tota l I n ves tment i n Genera l F l xe d As sets . . . . . . . . . . . $54,049,800 354,788,900 1 1 l I j l The accompanying notes are an Integral part of these financial statements. G-1 _ - - _ _ _ _ _ _ _ _ _ ~
h CITY OF TALLAHASSEE, FLORIDA SOtEDULE OF GENOtAL FIXED ASSETS - BT FUNCTION AND ACTIVITY For the Fiscal Tear inded September 30, 1988 Improvements Other Then Total Land Bu ll dings Bu!Idings Eaulpment General Government: Control Ci ty Commi ssion . . . . . $ 17,600 $ - $
$ 17,600 Clty Managee ...... 48,900 - ' - - 48,900 City Treasurer-Clerk .. 211,900 - - 72,300 139,600 City Auditor ...... 10,300 - - - 10,300 To+a l Control . . . . . 288,700 - - 72,300 216,400-i Staff Agenciest
. Management and Budget . . 23,800 - - - 23,800 Minority Business . . . . 9,200 - - - 9,200 I Grants Management . . . . 8,000 - -. -- 8,000
- ' 7,10 0 l Community L!alson Of fice. 7,100 - -
Engineering . . . . . . . 184,800 - - - 184,800 l Public In formation. . . . 34,400 - - - 34,400 Code Enforcement. .... 16,200 - - - 16,200 Genera l Government Building . . . . . . . .- 22,520,500 4,192,500 11,661,300 2,614,500 4,052,200 Community Development . . 2,383,000 251,600 1,941,000 7,100 183,300 Total Staf f Agencies . . 25,187,000 4,444,100 13,602,300 2,621,600 4,519,000 Total General Government 25,475,700 4,444,100 13,602,300 2,693,900 4,735,400 Public Safety: F ire Protection. . . . . . 4,113,700 342,500. 1,585,200 27,900 2,158,100 Police Protection. . . . . 3,486,200 500,000 1,217,700 66,000 1,702,500 Du i l di ng I n spect ion. . . . 58,400 - - - 58,400 Total Pubile Safety . . 7,658,300 842,500 2,802,900 93,900 3,919,000 j Highways and Streets . . . . 846,400 - - 112,100 734,300 Sanitation . . . . . . . . . 9,100 - - .- 9,100 l Recreation . ........ 8,001,100 2,988,500 3,248,200 988,800 775,600 Cemeteries . . . . . . . . . 132.400 - 19,900 60, t 00 52,400 - Total General Fixed Assets Allocated to Functions . . . . . . 42,123,000 $8,275,100' $ 19,673,300 $3,948,800 $ 10,2 25,800 i Construction in Process. . . 11,926.800 Total General Fixed Assets . . . . . . . . $5 4,049,800 0-2 The accompanying notws are an Integral part of these financial statements. 9 ___._ .________._._.____a
1 i GENERAL FIXED ASSETS ! ACCOUNT GROUP l l l l To account for fixed assets not used in Proprietary Fund operations or ) accounted for in Trust Funds.
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7 CITY OF TALLAHA?8SEE. FLORIDA , SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS l BY FUNCTION AND ACTIVITY For the Year Ended September 30, 1988 1 General Additions Deductions General Fixed Assets And .And ' Flxed Assets October 1, 1987 Transfers in Transfers out September 30, 1988 q General Government: Control C i ty Comm i s s ion. . . . . . . . $ 18,200 $ 400 $ 1,000 $ 17,600
. City Manager . . . . . . . . 43,700 5,700 500 48,900 j City Treasurer-Clerk '. . . . 221,900 4,200 14,200 211,900- ]
Ci ty Audi tor . . . . . . . . 10,300 - - 10,300
' Total Control . . . . . 294,100 10,300 15,700 '288,700 Staff Agencies:
Management and Budget. ... 23,400 400 - 23,800' Minority Business. . . . . . 9,200 - - 9,200. 1 Oronts Management. . . . . . 7,600 600 200- 8,000 j Community Liaison Offlee . . 7,100 - - 7,100 l Engineering. . . . . . . ... 172,100 18,200 5,500 184,800 j Public Information . . . . . 20,900 13,500 - 34,400 .; Code Enforcement . . . . . 16,200 - - 16,200 l Oeneral Government Bullding. 22,036,700 582,200 98,400 22,520,500 Commun ity Development. . . . 2,381,600 4,500 3,100 2,383,000 Total Staf f Agencies. . 24,674,800 619,400- 107,200 25,187,000 Public Safety . Fire Protection. . . . . . . . 3,981,700 179,500 47,500 4,113,700 Po lice Protection. . . . . . . 3,422,600 348,200 284,600 3,486,200 Building inspection. ..... 57,300 1,100- - 58,400 Communications. . . . . . . . . 363,400 - 363,400 - Total Public Safety . . 7,825,000 528,800- 695,500 7,658,300 Highways and Streets . . . . . . 804,500 100,100 58,200 846,400 l Sanitation . . . . . . . . . . . 1,853,200 - 1,844,100 9,100 Recreation . . . . . . . . . . . 8,405,500 1,296,300 1,700,700 8,001,100' Ceme ter le s . . . . . . . . . . . 142,100 - 9,700 132,400 Construction in Progress . . . . 10,789,700 3,564,200 2,427,100 11,926,800 Total General Fixed Assets. . . . . . . . 154,788,900 $ 6,119,3 $ 6,8 58,2 00 $54,049,800 i j I I i i j i The accompanying notes are an Integral part of these financial statements. G-3 l l
THl3 PAGE INTENTIONALLY LEFT BLANK 1 /
GENERAL LONG-TERM DEBT ACCOUNT GROUP a To account for general long-term liabilities not accounted for in proprietary funds and trust funds.
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CITY OF TALLAHASSEE. FLORIDA STATDENT OF ENERAL LONG-TEfN DEBT September 30 1988 1987 Amount Avallable and To Be Provided For the Payment of General Long-Term Debt: Arnount Avallable in Debt Service Fund. ....... $ 8,119,000 $ 6,825,600 Anount To Be Provided: Loan Payable ................... 2,004,400 2,022,000 Accrued Leave . . . . . . . . . . . . . . . . . . . 2,959,300 2,280,200 Certificates Payable. ............... 16,600 24,900 Capital Ref unding Bonds, Serles 1984. ....... 12,486,000 13,779,400 Total To De Provided. .............. 17,466,300 18,106,500 Total Avallable and To Be Provided. . . . . . . . $25,585,300 $24,93 2,100 reneral Long-Term Debt Payable: Loan Payable. ................... $ 2,004,400 $ 2,022,000 Accrued leave . .................. 2,959,300 2,280,200 Certificates Payable. ............... 16,600 24,900 Capital Refunding Bonds, Serfes 1984. ....... 20,605,000 20,605,000 Total General Long-Term Debt Payable. ...... $25,585,300 $ 24,9 32,100 The accompanying notes are an Integral part of these financial statements H-1
\ l l THl$ PAGE INTENTIONALLY LEFT BLANK
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[l 1 l STATISTICAL SECTION Statistical schedules differ from financial statements because they usually cover more tilan one fiscal year and may present non accounting data. These schedules ref!ect social and economic data, and financial trends of the government. l l l
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l l t 1 l 1 STATISTICAL SECTION 1 I
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l Statistical scheaules 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. I i
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CITY OF TALLAHASSEE, FLORIDA J l 1 l l
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l COPM_NTS ON T)E STATISTICAL SECTION September 30, 1988 1 The following statistical tables recommended by the National Council on Governmental Accounting ) are not included for the reasons stated below: ) i 1 a) Tables wh ich 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 obligation j I debt and these corresponding tables are included. b) Ten year debt services coverage schedules for enterprise revenue bonds have not been prepared. Due to ref undings of the majority of outstanding City bonds In 1977 and the enount l of additional bonds issued since that year, they would be conf using to the readsa. The City enjoys high bond ratings, and its ccverage has been adequate to susteln these ratings. In seve al cases, its ratings have increased. Additional schedules which are felt to be useful to verlous users, principally investors, underwriters, and rating agencies, have been included in this section. i l i 1 l l l-1
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I 1 1 ll CITY OF TALLAHASSEE FLORIDA 2 j i PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Fiscal Years l l l Tots! Texahle J Fiscal Assessed Assiessed Yaior valuation Va l uat ion Levy Collection Fercent (1) 1979 $1,707,374,200 $ 835,812,600 $2,757,900 $2,664,900 97 1080 1,812,233,400 877,107,600 3,069,900 2,971,800 % { MO' 2,234,694,600 1,133,300,400 3,168,700 3,061,400 96 l 1982 2,673,105,900 1,358,118,400 3,550,100 3,458,200 97 1985 2,782,858,100 1,418,980,300 3,705,400 3,597,900 97 1984 3,281,661,000 1,812,714,500 4,532,500 4,459,5r0 98 1995 3,438,932,300 1,976,951,300 4,918,700 4,799,500 98 j 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 ",500,000 97 1990 5,266,046,400 2,406,246,300 6,978,100 6,744,400 97 (1) Florlda Statutes prov i de for e discount of up to f our percent for early payment of ad valortwn taxes. All unpaid taxes become dolinquent on April 1, and are sold at auction on June 1 of each year as tax certificates. The City, ofter all tax certi f icates are sold,
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has fully collected all ad valoran tax revenues. i l l j i. l 1 l l-3
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CITY OF TALLAHASSEE, FLOftlDA j I PROPERTY TAX RATES - ALL OVERLAPPl'O GOVEIUe1ENTS (Per $1000) Last Ten FIscai Trars Cl+y of Tailshessee Count / School Boned Leon County N.W. Water
?! scal Deb? Managee nP Year @eratin7 Operatinq Sevice Operatinq Ofstelcr Total l
I 1979 3 500 8.000 0 720 5 640 0 050 17.910 1930 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 1 )32 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 1 1984 2 528 7.303 0 370 5.167 0 050 15.418 j 1985 2.489 7.134 0 249 5 167 0 050 15 083 ; 1986 2 488 7.107 0 214 5 450 0 050 15 309 1997 2 488 7 .*> 5 8 0 203 5 800 0 050 16 099 1988 2 900 7.336 0 161 6 200 0 050 16 647 Source: Leon County Tax Collector SPECI AL ASSESS >ENT COLLECTIONS Last Ten Fiscal Years Assessments As sessments Fiscal Due Assessments Assessments Due Year October 1 Levled Collected September 30 1979 1 156,900 $ - $ 31,600 $ 125,300 1980 125,300 913,800 25,100 1,014,000 1981 1,014,000 160,700 117,000 1,057,700 { 1 1982 1,057,700 -- 150,800 906,900 l 1983 906,900 -- 143,000 763,900 1994 763,900 250,000 217,200 796,700 1985 796,700 68,500 236,600 628,600 1996 628,600 343,000 110,700 860,900 1987 860,900 308,600 240,600 928,900 1938 928,900 -- 227,500 701,400 1-6 I
CITY OF TALLAHASSEE, FLORIDA
- COMPUTATION OF DIRECT AND OVERLAPPING DEBT 1 -
September 30, 1998 OlRECT DEST Non-Self-Supporting Revenue Debt - ; Capital Refunding Bonds, Series 1984.
. . . . . . - 1 20,605,000 -
Less: Sinking and Reserve Funds. . . . . . . . . (8,119,000).
' Total Olrect Debt . . . . . . , . . . . . . . . $'12,486,000 OVERLAPPING DEBT Tax Supported Ad Yalorem Debt:
General Obligation Bond issue-42,600.000
]
- 1988 A & B Ser i es . . . . . . . . . . . . . . . . -
'Less: Si nk i ng and Re ser ve Fu n ds. . . . . . . . . . (624,500) $41,975,500-State Board of Education. ............. 5,670,000 Less: $1nking and Reserve Funds. .;. . . . . . . (1,052,400) 4,617,600 1 3
l Race Track School Portion Revenues. . . . . . . . . 1,990,000 Less $1nking and Reserve Funds. . . . . . . . . . (210,2001 1,779,800 Non-Self-Supporting Revenue Debt Leon County Capital improvement Bonds 1986 Ser!es Courthouse. . . . . . . . . . . . . . . . . . . . . 32,000,000 Less: Debt Service and Reserve Fund. . . . . . . . (3,620,2001 28,379,800 Leon County, Florida Capital improvement Ref undi ng Bonds - 1985 Series . . . . . . . . . . . . 5,790,000 - l) Less: Debt Service and Reserve Funds . . . . . . . '(655,000) 5,135,000 Road Bonds 1964 Series. . . . . . . . . . . . . . . 720,000 Less: Debt Service and Reserve Funds . . . . . .' . (526,200) 193.800 Local Option Gas Tax. . . . . . . . . . . . . . . . .1,325,000 Less: Debt Service . ............... (403,900) 921,100 l Total Overlapping Debt. . . . . . . . . . .... 83,002,600 l CITY SHARE OF NET OVERLAPPING DEBT (1). ....... 58,101,800 TOTAL ClTY DIRECT AND OVERLAPPING DEBT. . . . . . . . $ 70,587,800 SELF-SUPPORTINO REVENUE DEBT: Electric Revenue Bonds. . . . . . . . . . . . . . . 5106,073,300 Less: Sinking and Reserve Funds. . . . . . . . . . (14,804,500) 591,268,800 Municipal Utility Revenue Bonds . .~. . . . . . . . 22,435,000 Less $1nking and Reserve Funds. . . . . . -. . . . (2,594,500) 19,840,500 Airport Revenue Bond. . . . . . . . . . . . . . . . 12,350,000 Less -Sinking and Reserve Funds. . . . . . . . . . (2,381,000) 9,969,000 Sunshine State Loan . . . . . . . . . . . . . . . . 18,039,700 Less: Si nk ing and Reserve Funds. . . . . . . . . . (426,800)- 17,612,900 T0 !'At W Q SUPPORTINO REVENUE DEBT $138,691,200
- :/ 4*
l (1) City's share calculated based on 1987 County Taxable Value of $3,415,403,400 and City Taxable Value of 12,406,246,400 percent overlapping 70 percent. l-7 S
----__l_.------._ -- - - -
CITY OF TALLAHASSEE, FLORIDA C04'UTATlON OF LEGAL DEBT MARGlN
".eptes6er 30,1988
.. ..... . .... . .. 12,406,246,400
?'%3LE ASSESSED VALUE i>9b t Li m i t 20 Percent of Asi,c ued '/alus . . ... . $ 481,240,300 The City of Tallahassee has no pneral obilgation $,bt outstanding; the anount of general j
obilgation debt the City can issue is llmited by City Chortere I i l l 1 I 1 1 i l c 1 i 1 1-a l L_ __ _
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CITY OF TALLAHASSEE, FLORIDA SGNARY OF DGT SERVICE REQUIREMENTS CAPITAL REFUm LNG 80NDS - SERIES 1984 l September 30, 1988 l l Invested lavested Fiscal Si nk i ng ;l nk ing Wt ] Year Fund Fund Payment j Endinq Principal Inrecest Purchases Earnings Due I 1989 1 - $ 2,080,600 $ 1,350,300 $ 385,700 $ 3,045,200 1990 - 2,080,600 1,458,700 496,500 3,042,800 1991 - 2,000,600 1,606,500 616,800 3,070,300 1992 -- 2,080,600 1,725,100 748,100 3,057,600 1993 - 2,000,600 1,780,200 889,300 2,971,500 1994 540,000 2,080,600 - 995,800 1,624,800 1995 590,000 2,029,300 - 995,800 1,623,500 1996 650,000 1,972,700 - 995,800 1,626,900 1997 710,000 1,909,300 - 995,800 1,623,500 1998 785,000 1,839,000 - 995,800 1,626,200 1999 860,000 1,760,500 -- 995,800 1,624,700 2000 173,000 2,447,300 -- 995,800 1,624,500 2001 156,100 2,465,600 - 995,800 1,625,900 2002 140,400 2,479,800 -- 995,800 1,624,400 2003 126,600 2,494,000 - 995,800 1,624,800 2004 113,900 2,505,600 - 995,800 1,623,700 2005 945,000 1,674,500 - 995,800 1,623,700 20 % 1,050,000 1,574,100 - 995,800 1,628,300 2007 13,765,000 1,462,500 - 995,800 14,231,700 Totals $20,605,000 $39,097,800 $7,920,800 $17,077,600 $50,546,000 Bonds Dated: May 1, 1984 Origin,sl Issue Amount: $20,605,000 ; Principal Due: October 1 of each year, beginning October 1, 1994 j interest Due: April 1 and October 1 of each year, beginning October 1, 1984 Paying Agent: Chemical Bank of New York
)
Bonds Maturinq Call Premium October 1,1994 to September 30, 1995 Two Percent October 1, 1995 to September 30, 1996 One and One Half Percent October 1,1996 to September 30, 1997 One Percent October 1, 1997 to September 30, 1998 One Half Percent October 1,1998 and thereaf ter Par Security: The Bonds are payable solely from and secured by a first lien and pledge of the Pubile Service Tax, Local Government Half-cent Sales Tax and Guaranteed Entitlement Revenues. nond Ratings: Myody's A1, Standard and Poor's A+ l-10
j l CITY OF TALLAHASSEE, FLORIDA StM4ARY OF DEBT SERVICE REQUIRD4'NTS SENIOR LIEN ELECTRIC REVENUE B), j SERIES 1985-A September 30, 1988 l Fiscal 1 Year En t!! ng Principal interest , Total 1989 56,115,000 1647,200 1 6,762,200 j 1990 3,305,000 231,400 3,536,400 l l Totals to,420,000 $878,600 $ 10,298,600_ t l Bonds Dated: December 1, 1985 l Original Issue Amount: 119,640,000 l l Principal Due October 1, beginning 1987 Interest Due: April 1 and October 1 of each year, beginning April 1,1986 ]' , Paying Agent: Florida National Bank, Jacksonville, Florida { Call Provision: None i Security: The bonds are secured and payable from a first lien upon and plodge of the net revenues of the Municipal Electric System. Bond Rating: M:>ody's Aa, Standard and Poor's AA l l-11 w______________-
i CfrY OF TALLAHASSEE, FLORIDA l StM4ARY OF DEBT SERVICE REQUIRDENTS j JUNlOR LIEN ELECTRIC REFUND lNG BONDS SERIES 1985 Septomber 30, 1988 j Fl%si l Yece gdg Principal in teres t Total 1989 $ - $ 7,256,700 $ 7,266,700 1990 -- 7,266,700 7,256,700 1991 4,590,000 7,266,700 11,856,700 1 )?2 4,935,000 6,922,400 11,357,400 1993 5,315,000 6,542,400 11,857,400 1994 5,735,000 6,122,500 11,857,500 1995 6,200,000 5,658,000 11,858,000 1976 6,715,000 5,143,400 11,858,400 1997 5,795,000 6,059,800 11,853,800 1978 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 8,130,000 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 11,852,300 j I l Total s $95,428,500 1120,663,700 $216,092,200 j l Bonds Dated: October 15, 1985 Original issue Amount: 193,290,100 l Principal Oue: 0:tober 1, beginning 1991 j Interest Oue April 1 and October 1 of each year, beginning April 1, 1986 Psying Agent: Florida National Bank, Jacksonville, Florida
%curity: The bonds are subordinate as to ilen on and security for payment to the Senior Llen Electric Revenue bonds from the net revenues of the Municipal Electric System. I Bond Ratings: Mrdy's A1, Standard and Poor's AA-Mandstory Redemation Terms Bonds Maturing October 1, 2004 subject to following redemption schedule by lot d 100% of principal 2001 16,235,000 2003 $7,445,000 2002 $6,815,000 2004 $8,130,000 Optional Redemption Serial Bonds Maturing:
October 1,1993 to September 30, 1994 Three Percent October 1,1994 to September 30, 1995 Two Percent October 1,1995 to September 30, 1996 One Percent October 1, 1996 and thereafter Par Gains Redemptions April 1, 2000 to March 31, 2001 Three Percent Apell 1, 2001 to March 31, 2002 Two Percent April 1, 2002 to March 31, 2003 One Percent April 1, 2003 and thereaf ter Par 1-12 ____2m._ _ _ - __ _ _ _ _ _ _ _ _ _ _ _ _ _
CITY OF TALLAHASSEE, FLORIDA
.ONARY OF DEBT SERVICE REQUIREMENTS MUNICIPAL UTILITY REVENUE BONOS SERIES 1970 September 30, 1988 Fiscal Year Coupon Ending Principal Interest Total Rate (1) 1989 1 475,000 1 275,425 1 750,425 6 00 1990 500,000 246,925 746,925 5 90 1991 550,000 217,425 767,425 5 95 1992 600,000 184,700 784,700 6 00 1993 650,000 148,700 798,700 6 00.
1994 650,000 109,700 759,700 6 00 1995 700,000 70,700 770,700 6 00 1996 700,000 28,700 728,700 4 10 To tal s 14,825,000 11,282,275 16,107,275 Bond Dated: October 1, 1970 Original issue Anount: 17,300,000 Principal Due: October 1, beginning 1972 Interest Oue: April 1 and October 1 of each year, veginning October 1,1972 Paying Agent: Chemical Bank of New York Gonds Maturing Ca l l Preinium October 1,1986 to September 30, 1989 Three Percent October 1, 1989 to Septomber 30, 1992 Two Percent October 1,1992 and thereaf ter prior to maturity One Percent Security: The Bonds are secured and payable, on a parity with the outstanding Municipal Utility Revenue Bonds, Series 1970-A, 1979 and 1982, and subordinate as to lien on and security for payment to the outstanding Municipal Ges Revenue Bonds and outstanding Municipal Wster and Sewerage Revenue Bonds, fran the net revenues of the Municipal Gas, Water, and Sewerage Systems. Gond Ratings: Pbody's A1, Standard and Poor's A+ l-13
CITY OF TALLAHASSEE, FLORIDA StM4ARY OF DEBT SERVICE REQUIRD4ENTS i MUNICIPAL UTILITY REVENUE BONDS SERIES 1970-A September 30, 1988 l l (^iscal Year Coupon l Ending Principal Interest Total Rate m j 1989 $ 200,000 $101,275 1 301,275 53 j 1990 200,000 90,675 290,675 54 1991 200,000 79,875 279,875 55 J 19M 200,000 68,875 268,875 5.6 l 1993 200,000 57,675 257,675 57 1994 250,000 46,275 296,275 5 75 1995 250,000 31,900 281,900 59 19 % 300,000 17,400 317,400 58 Totals $1,000,000 1493,950 $2,293,950 ! Bond Datedt Octobor 1, 1970 Original issue Amount: $3,150,000 Principal Due: October 1, beginning 1977 Interest Due: April 1 and October 1 of each year, beginning April 1, 1977 Paying Agent: Chemical Bank of New York Bonds Maturina Call Premium j October 1, 1986 to Apeli 1, 1989 Three Percent October 1, 1989 to April 1, 1992 Two Percent October 1,1992 and thereaf ter prior to maturity One Percent Security: The Bonds are secured and payable, on a parity with the outstanding Municipal Utility Revenue Gonds, Series 1970,1979 and 1982, and subordinate as to llen on and security for payment to the outstanding Municipal Gas Revenue Bonds and outstanding Municipal Water and Semerage Ravenue Bonds, from the net revenues of the Municipal Gas, Water and Sewerage Systems. 1 Bond Ratings tbody's Al and Standard and Poor's A+ l I l-14
l l CITY OF TALLAHASSEE, FLORIDA l SIM4ARY OF DEDT SERVICE REQUIREMENTS MUNICIPAL UTILITY REYENUE BONDS SERIES 1979 September 30, 1988 J l Fiscal Year Soupon i Ending Principal Interest Total Rate (1) 198n 1 250,000 1 612,040 1 962,040 5.50 j M 265,000 598,290 863,290 3 50 1 1991 230,000 583,715 863,715 5 50 ) 1992 295,000 568,315 863,315 5 60 1 ' 1993 315,000 551,795 866,795 5 60 1994 335,000 534,155 869,155 6 20 1995 355,000 513,385 868,3S5 5 75 1996 375,000 492,972 867,972 5 80 j 1997 1,405,000 471,223 1,B76,223 5 85 l 1998 1,490,000 389,030 1,879,030 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 1,892,100 6.00 1 Totals $10,410,000 15,931,040 116,341,040 l l l \ l Bond DateJ: April 1, 1979 Original issue Anount: 112,000,000 Principal Due: October 1, beginning 'i981 J Interest Due: April 1 and October 1 of each year, beginning April 1, 1990 ] Paying Agent Chemical Bank of New York l Sonds Maturinq Call Premium j l October 1,1989 to September 30, 1991 *hree Percent j October 1, 1991 to September 30, 1994 Two Percent l October 1,1994 to September 30, 1998 One Percent October 1, 1998 and thereafter Par Security: The Bonds are secured and payable, on a parity with the outstanding Municipal l Utility Revenue Bonds, Series 1970,1970-A and 1982, and subordinate as +o lien on and l security for payment to the outstanding Municipal Gas Revenue Bonds and outstanding Municipal Water and Sewerage Revenue Bonds, from the net revenues of the Municipal Gas, Water, and Sewerage Systems. Dond Ratings: tbody's A1, Standard and Poor's A+ l l l l l r 1-15 l _ _ _ _ _ -
d CITY OF TALLAHASSEE, FLORIDA SLM4ARY OF DEBT SERVICE REQUIRDENTS , MUNICIPAL LITILITY REVENUE BONDS - SERIES 1982 a September 30, 1988 . Fiscal' , l Year Coupon' Endtna Principal ~ Interest Total Rate ($) l 1989 $ 150,000 $ 449,256 1 599,256 7.500 1990 175,000 438,006 613,006 7 700 - I991 200,000 424,532 624,532 '7 800 1992 200,000 408,932 608,932 8 000 1993 250,000' 392,932 642,932 8.200 ;) 1994 250,000 372,432 .622,432 8 400-
.]
l995 300,000 351,432 651,432 8 500- 3 1996 325,000 325,932 650,932 8 600 'f 1997 350,000 '297,982 647,982 8 700 1998 400,000 267,532 667,532 3.800 .l 1999 450,000 232,332 682,332 8 800 . 2000 500,000 192,732 692,732 8.900 .J 550,000 148,232 698,232 8 900; 2001 ] 2002. 625.,000 99,282 '724,282 9 000 2003 675,000 43,032 718,032 6.375 Totals $5,400,000 $4,444,578 $9,844,578 Bond Dated: October 1, 1982 Original issue Amount: $6,000,000 Principal Due: October 1, beginning 1984 Interest Due April 1 and October 1 of each year, beginning April 1,1983 Paylng Agent: 01emical Bank. of New York Bonds Maturina Call Premium October 1,1992 to September 30, 1993 Three Percent .I October 1,1993 to September 30, 1994 . Two and One Hal f Percent - I October 1,1994 to September 30,~1995 Two Percent-October 1,1995 to September 30, 1996 One and One Half Percent October 1,1996 to September 30, 1997' One Percent- , October 1,1997 to September 30, 1998 One Half of One Percent 'fj October 1,1998 and thereaf ter Par
)
Securi ty: 7he Bonds are secured and payable, on a parity with the outstanding Municipal Utllity Revenue Bonds, Series 1970, 1970-A and 1979, and subord!nate as to tien on and security for payment to the outstanding Municipal Gas Revenue Bonds and outstanding . j Municipal Water and Sewerage Revenue Bonds, from the net revenues of the Municipal Gas, j Water, and Sewerage Systems. . l Bond Ratings: lbody's A1, Standard and Poor's A+
.)
J l I l-16 !
.q m j
a CITY OF TALLAHASSEE, FLORIDA . fdSMARY OF DEBT SERVICE REQUIRDefTS AIRPORT REVENUE 80M)$ SERIES 1968A September- 30, f968 Fiscal Year Ending Principal Interest Total 1989 $ - 1 939,705 '$ 939,705 1990 - 939,705 939,705 1991 - 939,705 939,705 1992 225,000 939,705 1,'164,705 1993 240,000 926,205 1,166,205.' 1994 255,000 911,205' 1,166,205 1995 270,000 894,630 1,164,630
.1996 290,000 876,675 1,166,675-1997 310,000 856,810. 1,166,810 1998 330,000 835,110 1,165,110 1999 355,000 811,350 1,166,350 2000 380,000 785,435 1,165,435 2001 410,000 757,315 1,167,315 2002 -440,000 726,565 1,166,565 2003 470,000 693,125- 1,163,125 2004 510,000 657,170 1,167,170 2005 550,000 617,645~ 1,167,645 2006 590,000 575,020 1,165,020 2007 635,000 529,295 -1,164,295 2008 685,000 480,082- 1,165,082 2009 740,000 426,995 1,166,995' 2010 795,000 368,535 .
1,163,535 2011 860,000 305,730 1,165,730 2012 930,000 237,790 1,167,790 l 2013 1,000,000 164,320 1,164,320 2014 1.080,000 85,320 1,165,320 - 1 Totals $17,350,000 117,281,147 $ 29,631,147 i 8onds Dated: February 1, 1988 Original issue Amount: 112,350,000 Principal Due October 1, beginning 1992 ; interest Due: April 1 and October 1 of each year, beginning October 1,1988 Paying Agent: First Florida Bank, Tampa, Florida 3 Securityi The bonds are secured and payable from the net revenues of the Florida Airpori System, aond Ratings: Moody's AAA, Standard and Poor's Aas Mandatory Redemption Term Bonds Due October 1, 2008 Term Bonds Due October 1, 2014 li2 Year Amount Year Amount 2004 $510,000 2009 $ 740,000 2005 550,000 2010 795,000 2006 590,000 2011 860,000 2007 635,000 2012 930,000 ! 2006 685,000 2013 1,000,000. 2014 1,090,000
- j. Optional Rodemption Redemption Price l
October 1, 1995 to September 30, 1996 One Hundred Three Percent October 1, 1996 to September 30, 1997 One Hundred Two Percent October 1, 1997 to September 30, 1998 One Hundred One Percent -~ l October 1, 1998 and thereafter One Hmdred Percent ' l- l-17 q l~ l . - _ _ _ _ _ _ _ _ - _
CITY OF TALLAHASSEE. FLORIDA PRINCIPAL TAXPAYERS September 30, 1988 Assessed Valuation Percentage Tangible of Total Real Personal Assessed Taxpayer Fraoerty Propert y Total valuation Central Telephone . . . ... ...... $ 7,820,200 $ 93,632,400 $101,452,600 1.9 Covernor's Square Mall. . ... ..... 29,336,800 74,500 29,411,300 6 Tallahassee Mall. . . . . . . . . . . . . 22,769,400 93,000 22,862,400 .4 l Talquin Electric. . . . . . . . . . . . . 1,367,200 23,845,500 25,212,700' 5 , I Killearn Properties . . . . . . . . . . . 18,918,000 131,700 19,049,700 .4 l l 1 Koger Properties. . . . . . . . . . . . . 17,304,500 7,000 17,312,300 .3 1 l Comcast Cable . . . . . . ........ - 16,000,000 16,000,000 .3 l I Tallahassee Community Hospital. . . . . . 9,147,600 3,712,200 11,859,800 .2 ) i First Florida Bank Building . . . . . . . 10,243,300 7,000 10,250,300 .2 Federal Building. . . . . . . . . . . . . 9,085,700 - 9,085,700 J
$124,992,700 $137,504,100 $262,496,800 5.0
== 4 l
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