ML20108C752
| ML20108C752 | |
| Person / Time | |
|---|---|
| Site: | Crystal River  |
| Issue date: | 09/30/1995 |
| From: | TALLAHASSEE, FL |
| To: | |
| Shared Package | |
| ML20108C682 | List: |
| References | |
| NUDOCS 9605070127 | |
| Download: ML20108C752 (205) | |
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l City ofTallahassee, Florida 0
i COMPREHENSIVE.
ANNUAL FINANCIAL REPORT i
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, For The Fiscal Year Ended September 30,1995
" Florida's Capital City"
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< COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE ,
CITY OF TALLAHASSEE, FLORIDA FOR THE Fiscal Year Ended September 30,1995 g g ai CIW OF TALLAHASSEE PREPARED BY THE i
1 Department of Finance
CITY OF TALLAHASSEE, FLORIDA COMMISSION-MANAGER FORM OF GOVERNMENT CITY COMMISSION l
SCOTT MADDOX, Mayor .
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PENNY SHAW HERMAN, Commissioner STEVE MEISBURG, Commissioner DEBORAH A. LIGHTSEY, Commissioner RON WEAVER, Mayor Pro Tem CITY MANAGER steven C. surkett CITY AUDITOR CITY ATTORNEY :
. Ricardo Fernandez, CPA James R. English l
DIRECTOR OF FINANCE CITY TREASURER-CLERK Philip F. Inglese, CPA Robert B. Inzer CONTROLLER FINANCIAL POLICY ADMINISTRATOR Johnny F. Session, CPA Richard G. Feldman, CPA O
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! INTRODUCTORY SECTION I
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1 CITY OF TALLAHASSEE, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEA.'t ENDED SEPTEMBER 30,1995 l
TABLE OF CONTENTS P.tSt
- l. INTRODUCTORY SECTION l
A-1 Table of Contents A-5 Letter of Transmsttal A-16 Govemment Finar:ce Officers Association Certificate of Exce;lence A 17 City of Tallahassee Organization Chart A-18 Listing of City of Tallahassee Officials
- 11. FINANCIAL SECTION B-1 Independent Auditor's Report - Opinion of Independent Auditors GENER M. PURPOSE FINANCIAL STATEMENTS (COMBINED STATEMENTS - OVERVIEW):
B-4 Combined Balance Sheet - All Fund Types and Account Groups B-8 Combined Statement of Revenues. Expenditures and Changes in Fund Balances -
All Governmental Fund Types and Expendable Trust Funds B-10 . Statement of Revenues and F.xpenditures - Budget and Actual-
, General Fund B-11 Combined Statement et Revenues Expenses innd Changes in Retained Esmings/ Fund Balances - All Proprietary Fund Types and Similar Trust Funds B-12 Combined Statement of Cash Flows - All Proprietary Fund Types and Similar Trust Funds B-16 Notes to Financial Statements !
COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP -
STATEMENTS AND SCHEDULES:
GOVERNMENTAL FUNOS l GENERAL FUND:
C-1 Balance Sheet
. C-2 Schedule of Revenue C-4 Schedule of Expenditures C-11 Schedule of Transfers SPECIAL REVENUE FUNDS:
C-13 Combining Balance Sheet C-14 Combining S,tatement of Revenues Expenditures and Changes in Fund Balances DEBT SERVICE FUND:
C-15 Balance Sheet C-15 Statement of Revenues Expenditures and Changes in Fund Balance CAPITAL PROJECTS FUNDS:
C-17 Combining Balance Sheet C-18 Combining Statement of Revenues, Expenditures and Changes in Fund Balances A-1
CITY OF TALLAHASSEE, FLORIDA TABLE OF CONTENTS (Continued) bi2t ENTERPRISE FUNDS D-2 Combining Balance Sheet D-6 Combining Statement of Revenues, Expenses and Changes in Retained Earnings D-10 Combining Statement of Cash Flows ELECTRIC FUND:
D-14 Balance Sheet D-16 Statement of Revenues, Expenses and Changes in Retained Earn.ings '
0 0-17 Statement of Cash Flows D-18 Schedule of Operating Expense D-1g Regulatory Schedule of Operating Expense i
GAS FUND:
D-20 Balance Sheet D-22 Statement of Revenues, Expenses and Changes in Retained Earnings D-23 Statement of Cash Flows D-24 Schedule of Operating Expense D-24 Regulatory Schedule of Operating Expense SEWER FUND:
D-25 Balance Sheet D-27 Statement of Revenues. Expenses and Changes in Retained Eamings D-28 Statement of Cash Flows D-29 Schedule of Operating Expense D-30 Regulatory Schedule of Operrt'ng Expense l
WATER FUND:
D-31 Balance Sheet D-33 Statement of Revenues, Expenses and Changes in Retained Earnings D-34 Statement of Cash Flows D-35 Schedule of Operating Expense D-35 Regulatory Schedule of Operating Expense l
AIRPORT FUND:
l D-36 Balance Sheet l D-38 Statement of Revenues, Expenses and Changes in Retained Eamings D-3g Statement of Cash Flows D-40 Schedule of Operating Expense TAlt.AHASSEE TRANSIT FUND:
D-41 Balance Sheet D-42 Statement of Revenues, Expenses and Changes in Retained Earnings D-43 Statement of Cash Flows D-44 Schedule of Operating Expense A-2
CITY OF TALLAHASSEE, FLOR!DA TABLE OF CONTENTS (Continued) j l M SOLID WASTE FUND:
l D45 Balance Sheet j D-46 Statement of Revenues, Expenses and Changes in Retained Earnings
! D-47 Statement of Casn Flows D-48 Schedule of Operating Expense l
GOLF COURSE FUND:
D-49 Balance Sheet D-50 Statement of Revenues, Expenses and Changes in Retained Eamings D-51 Statement of Cash Flows l
INTERNAL SERVICE FUNDS E-2 Combining Balance Sh,eet l E-4 Combining Statement of Revenues, Expenses and Changes in Retained Eemings (Deficit) i l E-6 Combining Statement of Cash Flows 1
TRUST AND AGENCY FUNDS TRUST AND AGENCY FUNDS: '
F-2 Combining Balance Sheet PENSION TRUST AND NONEXPENDABLE TRUST FUNDS:
F-3 Combining Statement of Revenues, Expenses and Changes in Fund Balances F-4 Combining Statement of Cash Flows EXPENDABLE TRUST FUNDS:
F-5 Combining Statement of Revenues, Expenditures and Changes in Fund Balance AGENCY FUt'D:
F-8 Deferred Compensstion Fund - Statement of Changes in Assets and Liabilities GENERAL FIXED ASSETS ACCOUNT GROUP G-1 Schedule of General Fixed Assets - By Sources G-2 Schedule of General Fixed Assets Bf Function and Activity G-3 Schedule of Changes in General Fixed Assets - By Function and Activity 1 l
l GENERAL LONG-TERM DEBT ACCOUNT GROUP 1 H-1 Statement of General Long-Term Debt !
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1 CITY OF TALLAHASSEE, FLORIDA TABLE OF CONTENTS (Continued) lit. SUPPLEMENTAL FINANCIAL DATA (Not Covered By Auditor's Report) 1-1 Summary of Debt Service Requirements - Capital Bonds, Series 1989 '
l-2 Summary of Debt Service Requirements - Capital Bonds, Series 1993A l-3 Summary of Debt Service Requirements - Caprtal Bonds, Series 19938 ;
1-4 Summary of Debt Service Requirements -Junior Lien Electric Revenue Bonds, Series 1992A l-5 Summary of Debt Service Requirements - Electric Refunding Revenue Bonds, Series 1992A 14 Summary of Debt Service Requirements - Electric Revenue Bonds, Series 19928 l-7 Summary of Debt Service Requirements - Airport Revenue Bonds, Senes 1988A l-8 Summary of Debt Service Requirements - Consolidated Utility Revenue Bonds, Senes 1991 A l-9 Summary of Debt Service Requirements - Consolidated Utility Revenue Bonds, Senes 19918 110 Summary of Debt Service Requirements - Consolidated Utility Revenue Bonds, Series 1994 1-11 Summary of Debt Service Requirements - Consolidated Utility Revenue Bonds, Series 1995 l-12 Summary of Debt Service Requirements - Airport Subordinated Revenue Bonds, Series 1994A IV. STATISTICAL SECTION (Not Covered By Auditor's Report)
J-1 Comments on the Statistical Section J-2 General Government Expenditures by Function and Transfers - Last Ten Fiscal Years ,
J-2 General Revenues by Source and Transfers - Last Ten Fiscal Years j J-3 Property Tax Levies and Collections - Last Ten Fiscal Years J-4 Assessed and Estimate ( Actual Value of Taxable Property - Last Ten Fiscal Yeers J-5 Assessed Valuations, Millage and Taxes Levied and Collected - Last Ten Fiscal Years J4 Property Tax Rates - Direct and Overlapping Govemments - Last Ten Fiscal Years J-6 Special Assessment Collections - Last Ten Fiscal Years J-7 Computation of Legal Debt Margin J-8 Computatior; of Direct and Overlapping Debt J-9 Demograp' tic Statistics -Lest Ten Fiscal Years J-10 Schedule of insurance in Force J-11 Principal Taxpayers J-12 Constructio i, Bank Deposits and Property Values - Last Ten Fiscal Years J-13 Miscellaneous Statistical Data ,
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gr e CITY HALL SCON MADOOK PENNY SMAW NERMAN S'EVEN C tJRKEU .AMES te EWSa "O 300 $ ADAMS ST. Mayor Commssioner C4 Monoger C& Anomey I
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- g" TALLAMASSEE. FL DON WEAVED CEBBiE UGWSEV DOBERT B INZER DiCADDC Ft3NANDEZ fi a4.oY. 32301 1731 Movoo fem Commiss,oner CA keasure< C em Crv Avonor Ne ,.eds 4 A 004s891-8100 S' EVE MEISBURG C o****'o"*'
Cf/G T/tWASSEE too ' 8co/oss-8771 i
December 21,1995 l
i The Honorable Mayor-Commissioner, Commissioners, and City Manager City of Tallahassee, Florida Ledies and Gentlemen: '
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The Comprehensive Annual Financial Report of the' City of Trilahassee, Florida, for the fiscal year erkded Septemt er 30, l
1995, is submitted herewith pursuant to Florida Statutes, Chapter 11, Section 45, and Chapter 10.550 and 10.600 of the Rules of the Auditor General of the State of Florida, The Comprehensive Annual Financial Report was compiled by i the staff of the Finance Department, in close cooperation with the external auditor, and represents *he official report of the City's financial operations and condition to the citizens, City Commission, management personnel of the City, rating agencies, and other interested persons. Responsibility for both the accuracy of the presented data, and the completeness and faimess of the presentation, including all disclosures, rests with the City. We believe the data, as presented, is accurate in all material aspects, that it is presented in a manner designed to fairly set forth the financial position and results of operations of the City as measured by the fmancial activity of its.various funds; and that all disclosures ;
necessary to enable the reader to gain the maximum understanding of the City's financial affsirs have been included.
The Comprehensive Annual Financial Report is designed to meet the needs of a broad spectrum of readers and is presented in four sections: Introductory, financial, supplemental financial data, and statistical. The introductory section includes the table of contents, this transmittal letter, the Certificate of Achievement for Excellence in Financial Reporting j awarded to the City by the Government Finance Officers Association, the City organization chart, and a listing of City of .
1 Tallahassee officials. The financial section includes the general purpose financial statements, the combining and individual fund and account group financial statements and schedules, and the independent auditor's report on the financial statements and schedules. The supplemental financial data section provides a summary of the debt service requirements for the City's outstanding bond issues. The statistical section includes selected financial and demographic information, generally presented on a multi-year basis.
The Reporting Entity The City of Tal!ahassee was incorporated in 1825, twenty years before Florida was admitted to the Union. In 1919, Tallahassee was granted a new City Charter by the State Legislature authorizing our present Commission-Manager form of government.
This report includes all funds, account groups, organizations, authorities, and agencies that are controlled by or dependent upon the City, as determined on the basis of budgetary oversight, taxing authority, and the City's obligation to fund any deficits that may occur. The City provides a full range of municipal services. These services include public safety (police and fire), construction and maintenance of streets and sidewalks, stormwater management, solid waste collection, recreation, public improvements, planning and zoning, general administrative services, four utilities (electric, gas, water, and sewer), a mass transit bus system, and a regional airport.
Accounting System and Budgetary Control The City's accounting records for general governmental operations are maintained on a modified ccerual basis, with the revenues being recorded when available and measurable, and expenditures being recorded when the services or-geods are received and the liabilities are incurred. Accounting records for the City's utilities and other enterprises are maintained on the accrual basis. Budgetary control is maintained at the department level. Purchase orders which would result in an overnet of balances are not released until addrtional appropriations are made available. Open encumbrances are reported as reservations of fund balance at September 30,1995.
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In developing and altering the City's accounting system, consideration is given to the adequacy of intomal accountmg ,
controls. Intemal accounting controls are designed to provide reasonable, but not absolute, assurance regarding the safeguarding of assets against loss through unauthorized use or disposition; and the reliability of financial records for ,
preparing financial statements and maintaining accountability for assets. The concept of reasonable assurance j recognizes that the cost of a control should not exceed the benefits likely to be derived; and the evaluation of costs and ;
benefits requires estimates and judgments by management. All internal control evaluations occur within the above I framework. We believe the City's internal accounting controls adequately safeguard assets and provide reasonable I assurance of proper recording of financial transactions.
The City's Auditing Department reviews and appraises the soundness, adequacy, and application of accounting, financial, and administrative controls in the City's accounting system. ' Financial transactions and related data are examined for accuracy, completeness, and authorization. Data processing applications and systems are periodically addressed by the internal auditors to assess the adequacy and accuracy of controls. Computerized applications are also reviewed to l determine that they have been developed according to the policies, procedures, standards, and guidelines of the City.
{ General Govemmental Functions -
The General Fund encompasses the general governmental functions of the City not required to be accounted for in other funds. The following summary shows actual revenue to support these functions for the current fiscal year and the change from the prior fiscal year increase Revenues and Other Percent (Decrease)
Financina Sources Amount of Total From 1994 ,
Taxes $27,422,000 27.35 $2.161,000 Licensee & Permits 2,092,000- 2.09 (577,000)
Intergovernmental Revenues 10,694,000 10.67 565,000 Charges for Services 11,992,000 11.95 429,000 Fines & Forfeitures 1,505,000 1.50 118,000 Miscellaneous & Interest 1.250.000 ,__121 7.000 SUB-TOTAL 54,955,000 54.81 2,703,000 Transfers in 45.306.000 _4_f.,11 (1 070 000) . 1 TOTAL 1100 M1000 100.02 1.1&22.QQQ i
The City's principal sources of local tax revenues are property taxes and public service taxes. In fiscal years 1994 and 1995, the City's property tax, all of which is for operating purposes, was 3.200 mills. The related property values subject to taxes showed growth of 7.8 percent, representing $289.1 million in added taxable property. This increase is a result of the reassessment of the property values by the County Property Appraiser. Also it reflects a continual trend of growth as a result of increased property values in existing properties and new construction. Taxable assessed values have increased by $1.1 billion over the last five years. Collection of property taxes increased by $730,000 over 1994 to $11.6 million.
Public service taxes on electric, water, and natural and bottled gas are levied at the maximum allowable State rate of 10 percent, and four cents per gallon on fuel oil services within the City. The telecommunications tax, effective April 1,1994, is levied at 7 percent on purchases of intrastate telecommunications services. In 1995, total revenue from these taxes reflected an increase of $1.3 million equivalent to a 10.6 percent increase over 1994. This growth is attributed to increased utility sales and the expanded tax base from the telecommunications tax. .
Charges for services increased $0.43 million, or 3.7 percent over 1994. The increase was attributable primarily to increases in the amount received from Leon County for support of fire and parks and recreation services as provided ,
through the City and County Interlocal Agreement, and increase in parks and recreation program activity fees.
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The following summary shows the level of funds used in providing general governmental services:
Increase Expenditures and Other Percent (Decrease)
Financina Uses Amount Of Total From 1994 Expenditures:
General Government $14,978,000 15.48 $1,445,000 Public Safety 37,888,000 39.14 2,264,000 Transportation 9,748,000 10.07 209,000 Human Services 2,974,000 3.07 407,000 Economic Environment 930,000 0.96 258,000 Physical Environment 2,948.000 3.05 343,000 Culture & Recreation 8.857.000 9.15 623 000 SUB-TOTAL 78,323,000 80.92 5,549,000 Transfers Out 18.466.000 19 08 (6.476.000)
TOTAL USES 196 789 000 aga.22 5 f 927 000)
The increases in expenditures for governmental services are generally attributable to inflation and meeting the demands of growth in the community. .
The preceding schedules of Financing Sources and Uses reflect significant Transfers in and Out. Transfers in primarily represent excess enterprise fund revenues which legally may be used for general govemmental purposes. Transfers Out are primarily used for debt service, underwriting the operations of certain funds, and capital projects. The General Fund acts as a clearing fund and accordingly uti'izas funds or transfers them to other funds for their respective purposes.
The City Commission adopted a financing policy that addressed the transfer of monies from the enterprise funds to the General Fund. The amount transferred is limited to the policy established for each enterprise fund. Included in the Transfers Out is $9.7 million to intomally fund capital projects, which otherwise would have to be funded through bonds.
This internal funding is in accordance with the City Commission approved Debt Management Policy. In 1995, General Fund sources were $3,472,000 over General Fund uses. At September 30,1995, the fund balance of the General Fund consists of 59.0 million with $3.7 million reserved and $5.3 million unrwerved.
Soecial Revenue Funds I
Special revenue funds account for revenue from re.enue sources which are legally restricted for specific purposes. The i combined fund balances of these funds fer 1995 amount to $19,688,000. An analysis of sources and uses in the special l revenue funds follows:
Changes in Sept. 30,1995 Fund Sources Uses Fund Balances Fund Balances Special Projects Fund $ 6,894,000 $ 5,307,000 $ 1,587.000 $ 8,408,000 Stormwater Management Fund 9,335,000 6,918,000 2,417,000 11,066,000 Law Enforcement Forfeiture Fund 82.000 82.000 - 214.000 TOTAL S 18 311 000 1 17 307 000 5 4 004 000 1 19 ERR 000 The Special Projects Fund is used to account for Federal, State, local and other revenues that are to be used for specific general governmental purposes. The major revenue source in this fund was the Federally funded Community Development Block Grant program which provided $2,233,000 to the City during 1995.
The Stormwater Management Fund was sstablished to account for fees restricted for stormwater operating and capital costs. Total revenues, including interest earnings and transfers, collected for fiscal year 1995 were $9.3 million.
l The Law Enforcement Forfeiture Fund was established to account for forfeitures as prescribed by Chapter 932 of the 4 Florida Statutes. Appropi.ations from this fund can be made only for law enforcement purposes. Total revenues, including interest earnings, were $82,000 for fiscal year 1995.
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Capital Propects Funds Capital Projects Funds are used to account for proceeds from general revenue bond issues, local opthn sales and gas tax collechons, transportation impact fee collechons, and intomally generated funds used to acquire or construct major capital !
facilities.
An analysis of sources and uses in the capital projects fund follows:
Changes In '
Sept.30,1995 Fund Sources Uses Fund Balances Fund p-%ces Capital improvement $16,190,000 $11,843,000 $ 4,356,000 $ 47,086,000 Capital Bonds Construction 532,000 9,000,000 (8,468,000) 5,258,000 ,
Transportation impact Fee 846,000 1,205,000 (359.000) 4,861,000 Local Ophon Sales Tax 13,374,000 3,139,000 10.235,000 45,193.000 l Local Ophon Gas Tax 3.814 000 2.822.000 992 000 2_528 000 i
TOTAL M 328,QQ&QQQ 3,,,,3,Zjg,QQQ iggggGQ The sources of. funds for the Capital improvement Fund in 1995 were primarily a result of $13.4 million of Operating , ,
Transfers in for various capital projects The use of funds primarily consisted of capital outlay expenditures of $9.2 million of Transportabon, General Govemment, and Culture and Recreation projects. Fund balance primarily consists of $44 million reserved or encumbered for projects and $2.6 million unreserved /undesignated available for future projects. j The Capital Bonds Construction Fund's primary source of funds in 1995 were primarily a result of $531,000 of Interest Eamings. The majority,38.9 million of capital outlay expenditures were for Transportation projects of which $8.5 million was expensed for the mixed use parking garage. $3.7 million of fund balance is reserved or encumbered for projects.
The Traa.W i.2,6 Impact Fee Construchon Fund's pnmary source of funds was $535,000 in Charges for Services.
Transportation projects accounted for the $794,000 of capital outlay expenditures The current year fund balance consists i of $4.6 rmlhon reserved or encumbered projects and $253,000 of unreserved /undesignated funds for future projects. i Effective July 25, the road impact fee ordinance was repealed by the City. - The City has reprogrammed its road impact fee ,
projects to expend all impact fees collected through July 1995.
i On September 19, 1989, Leon County voters, in accordance with Florida Statutes, Chapter 212.055, approved in referendum the implementation of a 1 percent local ophon sales tax on all transaction's subject to the State sales tax. The tax is to be split between the City and Leon County based upon the distribubon as provided in the Florios Statutes. The tax )
began on December 1,1989 and will expire November 30,2004 The proceeds of the tax may be expended only on infrastructure, defined as any fixed capital expenditure or fixed capital costs associated with the construction, reconstruction or improvement of public facilities which have a life expectancy of five or more years and any land acquisition, land improvement, design and engineering costs related thereto. Capital outlay expenditures were for Public Safety and l Transportation projects. Revenue was $11,1 million from the City's share of the local option sales tax which represents a 13% increase over 1994 receipts. At year end,340 million of fund balance is reserved or encumbered for projects, and
, $5.1 million unreserved /undesignated fund balance is available for future projects.
According to Florida Statutes, Chapter 336, a county may impose a one to six cents local option gas tax upon every gallon of motor fuel and special fuel sold within the county. In June 1985, Leon County and the City entered into an interlocal agreement whereby a levy of four cents was approved and is to be split on an equal 50-50 percent basis. In Jur e,1987, the levy was increased by an additional two cents. The tax is due to expire September 30,2015. The tax can be used only
, for transportation purposes. Revenue was $3.7 million from the City's share of the local option gas tax, as compared to
$3.1 million in 1994. $2.1 million is reserved or encumbered for projects.
At the end of the fiscal year, completed projects, except for infrastructure assets, are capitalized in the General Fixed Assets Account Group. During 1995,59.3 million of such assets was added to General Fixed Assets. As of September 30, 1995, there were projects with an authorized amount of $56.7 million with $33.2 million expended, in progress.
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l Enteronse Funds l
! Enterpnse funds are financed and operated in a manner similar to a private business enterprise where the intent of the '
I goveming body is that the cost of providing goods and services on a continuing basis be financed through user charges or where the govemmental body has decided that periodic determination of revenues eamed, expenses incurred, and/or net income is appropriate for capital maintenance, budget policy, management control, accountability, or other purposes. The '
l City accounts for its Electric, Gas, Water, Sewer, Airport, Tallahassee Transit, Solid Waste, and Golf Course Funds as enterprise operations.
Ooeratina income (Less) Increase i l (Decrease) I l
- 1995 1994 From 1994 Electnc $39,910,000 $49,491,000 $(9,581,000)
Gas 3.295.000 2,805,000 , 490,000 Water 4,135,000 5,981,000 (1,846,000)
Sewer 2,333,000 2,549,000 (216,000)
Airport (144,000) (118,000) (26,000)
Tallahassee Transit (5.976,000) (6,155,000) 179,000 Solid Waste 906,000 633,000 273,000 Golf Course (569,000) (504.000) (65,000)
Electric Fund The 59.5 million net decrease in Operating income from 1994 to 1995 is primarily due to a 19 percent increase in operating expenses. The increase in operating expenses is a result of increases in fossil fuel, purchased power and contractual expenses.
Gas Fund i
The $490,000 net increase in Operating income from 1994 to 1995 is primarily due to a decrease in operating expenses.
The decrease in operating expenses is a result of a reduction in the cost of gas purchased. l Water Fund .
The $1.8 million net decrease in Operating income from 1994 to 1995 is primarily due to an increase in operating expenses.
The increase in operating expenses is a result of increases in contractual services and other expenses.
' . Sewer Fund The $216,000 decrease in Operating income from 1994 to 1995 is the net result of a increase in operating expenses in 1995. The increase in operating expenses is the result of a 7 percent increase in personal service expenses, due to increased emphasis on construction administration and inspection.
Airoort Fund The loss in 1994 and 1995 is due to depreciation expense.
Tallahassee Transit Fund The City-owned bus system reflects a net decrease in Operating Loss of $179,000 from 1994 to 1995 as a result of a l reduction in contractual services and other operating expensgs. Each year the operating loss, exclusive of depreciation i and capital purchases, is partially funded by a Section IX operating grant from Federal Transit Administration. In addition, the General Fund subsidized the Tallahassee Transit Fund in the amount of $4,015,000 for the 1995 fiscal year.
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Solid Waste Fund ,
I The $273,000 not increase in Operating income from 1994 to 1995 is primarily due to an increase in recyclable sales l revenue.
Golf Course Fund The $65,000 not increase in operating loss is primarily due to an 11 percent increase in operating expenses. The General Fund subsidized the Golf Course Fund in the amount of $502,000 during the 1995 fiscal year. j i
intemal Service Funds i
Intemal service funds are established to account for the financing of goods and services provided by one department or '
agency to other departments or agencies of the govemmental unit on a cost-reimbursement basis. The City of Tallahassee accounted for its Reading, Billing, and Collection activities, Information Systems Services, Accounting, .
' Central Stores, Purchasing, Garage, t4uman Resources, Pension Administration, Risic Management, Employee Healthcare, and Communications activities as intamal service
- funds in 1995. The expenses assocated with these funds are billed to other City departments through allocation methodologies deemed reasonable for each activity, in addition, the City accounts for its Internal Loan Fund as an Intemal Service Fund. The purpose of the fund is to provide interim and i long-term financing to other funds of t.e City. l Fiduciary Funds i
Fiduciary funds are established to account for assets held by the City in a trustee or agent capacity for individuals, private I organizations, other govemmental units, and/or other funds. j i
Pension 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 ;
i liabilities of the plan based upon actuarial valuations. Employees participate in both a defined benefit article and a defined contribution article. At September 30,1995, the City's pension plan had total assets of $359,105,000. In order to obtain l the highest possible yield on pension assets, substantially all of the assets are managed via contracts with private j
investment companies. Further details concoming pension expenses, vested benefits, and actuarial assumptions are included in the notes to the financial statements. l Exoendable Trust Funds - Expendable trust funds consist of the following:
. Downtown Improvement Authority Fund used to account for monies appropriated by the Downtown improvement Authority to regulate downtown growth.
. Deficiencies and Emergencies Fund used to provide for unforeseen expenditures of an emergency nature.
. Railroad Fund used to account for the City's fiduciary responsibility of managing the operations of the Railroad Site in accordance with the interlocal agreement (joint venture) between the City and the County.
These funds have total assets of $18,640,000 at September 30,1995.
Nonexcendable Trust Fund - Nonexpendable trust funds consists of the following:
. The Cemetery Perpetual Care Trust Fund was established pursuant to Commission action to provide for the perpetual maintenance of the City's cemeteries.
. The Scholarship Fund was established pursuant to Commission action to provide scholarships for the Partners in Excellence Program in the Leon County School System.
These funds have total assets of $5,710,000 at September 30,1995.
Aaenev Fund - The City offers its employees two deferred compensation plans created in accordance with Internal Revenue Code, Section 457. These plans sre administered by the intomational City Management Association Retirement Corporation (ICMA) and Prudential Insurance Company. The ICMA plan is closed for new employees; all new employees may only participate in the Prudential plan. This fund had total assets of $10,007,000 at September 30,1995.
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General Fixed Asset Account Grouc The general fixed assets of ibe City are those assets used in the performance of general govemmental functions and exclude the fixed assets of the Enterprise and Intemal Service Funds. Govemmental accounting dictates that these assets be accounted for separately from the General Fund since they do not represent financial resources available for expenditure. In acccrdance with generally accepted accounting principles, the City of Tallahassee does not record depreciation in the General Fixed Assets Group of Accounts. As of September 30,1995, the City of Tallahassee has
$121,131,000 of general fixed assets which were acquired from General Fund revenues, bonds, and gifts. As allowed by l generally accepted accounting principles for local govemments, roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, lighting systems, and similar assets that are immovable and of value only to the govemmental unit are not recorded as general fixed assets.
Debt Adraininauan At September 30,1995, the City had outstanding $25,815,000 of Capital Revenue Bonds, payable from specific general fund revenue sources other than ad valorem taxes: $110,819,000 of Electric Revenue Bonds, payable from revenues of the Municipal Electric System: $93,800,000 of Consolidated Utility System Revenue Bonds, payable from revenue of the Consolidated Utility System which consists of the Gas, Water, Sewer, and Stormwater operauons; and $16,595,000 of Airport Revenue Bonds, payable from revenues of the Airport. The City has no general obligation debt (de::t secured by ad valorem taxes) outstanding. In addition to fixed capital debt outstanding, the City has outstanding loans from tt,s Sunshine State Govemmental Financing Commission (SSGFC) in the amount of $46,665,000; these loans are non-revena specific with a covenant to budget and appropriate non ad valorem revenues.
TI e City has defeased certain general revenue, municipal utility revenue and other bonds by placing the proceeds of new bonds in an irrevocable trust to provide for all future debt service payments on the old bonds. During fiscal year 1995, the
,, City issued $48,780,000 Consolidated Utility System Revenue Bonds, Series 1995, to advance refund a portion of the Consolidated Utility System Revenue Bonds, Series 1991 Bonds. The advance refunding resulted in net economic gain of
$1.7 million. In addition, the City Commission approved issuance of $11,995,000 in Airport System Revenue Refunding Bonds, Series 1995 for the purpose of refunding the City's outstanding Airport System Revenue Bonds, Series 1988A. The bonds were issued on December 5,1995 and resulted in net economic gain of $1.7 million.
All requirements mandated by bond covenants have been met. Actual debt service coverage as compared to required debt service coverage and ratings assigned to the City's bonds by independent nationally recognized agencies are useful indicators for evaluating the City's debt position. The City's indicators are, as follows:
. Debt Service Coveraag Debt service coverage demonstrates the City's ability to generate revenues sufficient to provide for the payment of debt service. As seen below, the City's debt service coverage is generally well above the amounts required. l l
Actual Recuired i Capital Revenue Bonds 7.17 1.50 l Electric Revenue Bonds 5.80 1.40 Consolidated Utility System Revenue Bonds 3.46 1.50 Airport System Revenue Bonds 2.35 1.25 l
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. Ratinas Ratings for the City's bonds are assigned by independent nationally recognized agencies. These ratings have a !
significant influence in establishing the rate of interest expense the City must pay when the bonds are sold.
Ratings for the City's debt have boon consistently judged to be of good investment quality. Ratings by the two major rating agencies shown below for each series of outstanding long-term bonded debt continue to demonstrate the good investment quality of the City's bonds.
Moody's Standard & Poor's Capital Revenue Bon:fs 1993A and 19938 Asa AAA Capital Revenue Bonds 1989 A1 A+ ;
Electric Refunding Revenue Bonds As AA- ;
Electric Revenue Bonds As '
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Junior Lien Electric Revenue Bonds Asa AAA Consolidated Utility System Revenue Bonds:
Series 1991 A Asa AAA '
Series 1991B As .AA-Series 1994 As AA.
Series 1995 Aa AA-Airport System Revenue Bonds Aas AAA Cash Manaaement Proaram
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The City Charter relative to investment of idle City funds provides for the adoption of an investment policy. In connection j wth the City Charter, the City Commission adopted an investment policy which provides a wide range of secunties from {
which to choose, including US Treasury Secunties, bankers' acceptances, commercial paper, various govemment ;
agencies and sponsored corporations, certificates of deposit, open and term repurchase agreements, and corporate fixed I income securities. These instruments provide great flexibility and diversity. The policy also establishes restricticis that require diversification of investment types and issuers, liquidity and maturity provisions, standards for rating security issuers. Though the City does not invest in the traditional derivative securities, such as collateralized mortgage obligations, futures, options, caps / floors / collars, forwards, tnd currency and interest rate swaps, under the new, broader, I industry definition of " derivatives *, some of the instruments traditionally utilized by the City for interest risk management (i.e. floating rate notes) are now defined as derivatives. On September 27,1995, the City Commission approved an amendment to the City's General Operating Portfolio investment Policy in order to bring the existing policy into compliance with the new law.
The investment policies enable the City's cash management program to be in step with other innovative municipal ,
investment operations and provides the mechanism for keeping our policies current with the over changing investment environment. The result of these policies was that the City's general investment portfolio achieved a 5.46 percent effective yield during fiscal year 1995.
Risk Manaaement All insurance, except health, is administered through the Risk Management Program. The Program is designed to provide financial protection for unforeseen accident losses through the combination of commercial and self-insurance. A major portion of the insurance program involves self-insurance which is provided for through an internal service fund. The City is I currently self-insured in the areas of workers' compensation, general liability, police professional liability, and automobile liability. In order to limit exposure, the City has purchased " excess coverage" for workers' compensation. For other coverage where frequency is low and potentiel losses are great (e.g., property and airport liability), the City transfers risk through the purchase of insurance. Premiums in excess of claims charged to the various operating funds have been retained in the fund to provide for stability and protection against catastrophic losses in accordance with the City's Financing Policy. It is the City's policy to record actuarially determined incurred-but-not-reported claims as expenses.
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I Perspectrves
- The economy of Tallahassee is strongly oriented toward governmental and educational activities. The remainder of the demand for labor is almost equally divided into those industry groups that support urban populations and governmental affairs. The level of govemmental employment has a stabilizing effect on the economy and helps to keep unemployment down. Of the work force, 4.0 parcent were unemployed in 1995 as compared to the State's unemployment rate of 5.5 percent. The percentage of employees employed by govemment has leveled off at approximately 40 percent of the work force. This employment mix stabilizes the local economy. The employment rate is one of many economic indicators to govemment. The issuance of building permits for residential construction is also a strong indicator of the local economy l and has bearing on the City's financial condition. The number of construction permits has steadily increased from 1991 to
! 1995, as follows:
1991 762
< 1992 972 l
, 1993 1,074
, 1994 1,081 i 1995 '985 As construction activity continues as reflected in building permit activity, this increases consumer-based general revenues
, , and utility revenues and a boost to the local economy. The success of City Commission actions to bolster the economy is l evidenced by factors, such as construction. Based on results from Commission actions, the following actions will be l, continued: funding economic incentives geared toward job creation; authorizing industrial revenue bonds; maintaining a i
small businesa loan program; and the Project 2010 plan with the Chamber of Commerce to investigate ways to better utilize institutions in the community in job creation and development.
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. Property taxes can significantly impact the citizen's perception of economic success. As noted in the section on General Governmental Functions, the City's proposty tax has remained at 3.2 mills for 1994 and 1995. The following is a comparison of millage rates for the ten largest Florida cities for 1995 and 1996:
Gk Pooulation Rate 1995 Rate 1996 Miami 365,557 11.7 11.7 Tampa 283,802 6.5 6.5
, St. Petersburg 240,902 8.4 8.2 l Hialesh 202,904 8.3 8.2 Orlando 170,780 6.1 6.1 Ft. Lauderdale 149,232 5.8 5.9 Tallahassee 133,731 3.2 3.2 Hollywood 124,316 6.1 6.4 Clearwater 100,604 5.1 5.1 Gainesville 93,969 . 5.0 5.0 s
As indicated above, the City enjoys the lowest millage rate of the ten largest cities in Florida for 1995.and 1996. I
- Tallahassee's low and stable millage rate should act as an incentive to economic growth and stability.
The following activities are currently underway or recently completed:
. The 1,022 space underground parking garage; public plaza; and performpnce area components of the City's 5.17 acre Capitol Commons project were completed in December 1995. Construction has begun on a 41,000 sq. ft.
joint arts and science center situated on the soutneast part of the project. Negotiations are underway with the
. Florida League of Cities for the purchase of a parcel on the site for construction of a 71,000 sq. ft. office building. i Future components planned for the project includes a 145,000 sq. ft. City Hall annex, a 250 room convention hotel, and two additional office buildings at 100,000 sq. ft. each. Retail and commercial activity totaling 50,000 sq. ft, will be an integral part of the project, particularly in conjunction with the pedestrian-oriented plaza.
. In February 1995, the City approved a change of venue for proposed downtown art museum and agreed to participate with the Leon County School Board, Odyssey Science Center, and Museum Art / Tallahassee organizations to co-locate a 41,000 sq. ft. combined arts and science center at the Capitol Commons site.
l Construction began in April 1995 and is expected to be completed by January of 1997. This project has been
! funded by a combination of State and Local grants.
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. The construction of a new $3.3 million municipally-owned animal shelter is anticipated to be completed in December 1996. Replacement of the existing aging facility was necessary to satisfactorily meet the City's current ,
growth in animal population and to meet future demands.
. The City has budgeted $10.2 million to purchase an 800 MHZ trenched simulcast system to replace existing VHF
.and UHF radio communications systems currently being used by the City. The new system will ease channel !
congestion, improve radio communication coverage and radio frequencies, and provide a common interagency coordination channel. This project is anticipated to be completed in early 1997.
. The City anticipates funding various projects with future bond issues as follows: $17.4 million in Capital Bonds, l including the Animal Shelter and Radio Communications Systems (discussed above); and $26 million to provide for various Electric system projects.
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. Tallahassee Regional Airport marked this year with the introduction of additional air service being provided by Air South in November 1994 and Gulfstream Intemational in August 1995. ComAir started intraFlorida jet service to Orlpndo out of Tallahassee in August 1995. Conversely, December 14,1995 marked the final day of operations for American Eagle, which had been offering services to the Tallahassee market since October 1990. The not increase in the number of Airlines serving the area has a positive effect on the economy and helps to offer new '
jobs in Tallahassee.
. Construction of the new Air Traffic Control Tower (ATCT) complex has been completed and is scheduled for full operational occupancy by the Federal Aviation Administration (FAA) in July 1996. The new ATCT complex '
consists of a 93 foot tower and an 8,856 square foot, single story administration support building with service roads, security access, and landscaping. This facility will be owned by the City and leased to the FAA, with the City receiving revenues from the FAA sufficient to cover the debt payment on the facility. The facility is expected >
to cost approximately $6.7 million and the Florida Department of Transportation is providing approximately half of the funding and balance to be obtained through the City's intamal loan program.
. The City is also planning construction of a new Aircraft Rescue and Fire Fighting Facility (ARFF), centrally located i to enhance the current emergency response time and as well as the efficiency and safety of these emergency operations. The Florida Department of Transportation is providing a portion of the funding for this project in addition to funding provided by FAA. The construction is anticipated to be completed by June 1998.
. The City has programmed to spend approximately 36 million over the next four years to continue its bus fleet rep'acement plan. During FY 1996, 13 new replacement Dial-A-Ride vehicles were acquired. The City has ordered an additional 9 new basic system replacement buses for delivery in 1996 and 9 additional buses are programmed for acquisition in 1999. Three new downtown trolleys have also been approved for acquisition.
Taltran now has one of the youngest transit fleets in the nation which will provide for significant savings in
- l operating and maintenance costs while providing modem and comfortable transit equipment to serve the communities' transit ridership.
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. The City is in the process of designing and implementing a system of Total Quality Management to enhance service to its customers which includes the citizens of Tallahassee and the employees of the City.
. The City's Electric Department is planning to develop a major new source of electricity that would come into use '
sometime around the year 2000. The new power source will allow the City to produce more electricity cheaper, and at less harm to the environment. The City solicated proposals through its RFP process and accordingly received five offers for its consideration, three of which would involve building new power plants. The other two offers want to sell electricity from existing generators outside the state. The outside vendors will compete against a pair of proposals from the City's electric department. It is anticipated that whichever proposal is accepted by the City will lower rates for customers, a continuing goal of the City as it anticipates the utility industry in Florida
. to open for competition in upcoming years. ,
There continues to be economic pressure from increased Federal and State mandates, reduced Federal contributions, and reduced reliance on electric revenue support which has led to an aggressive cost recovery approach for the general governmental activities. Fees have risen to approach costs in many activities. In addition, the City has implemented various measures, and is evaluating other measures to be implemented in the future to enhance the financial stability of the government as a whole.
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Under the Flonda Constitution, the State Legislature is the body responsible for determining the taxing authonty that units of local government may have. The Legislature has passed legislation providing the means for raising the necessary dollars at the local level. The Legislature will have to continue to provide the means necessary to raise the required revenues as more and more of the problems of local government and State and Federal mandates have to be financed locally, indeoendent Audit The Florida Statutes and the City's Bond Resolutions require an annual audit of the books of account and financial records of the City by independent certified public accountants selected by the City Commission. This requirement has been complied with and the auditor's opinion has been included in this report.
Awards ,
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Tallahassee, Florida for its Comprehensive. Annual Financial Report for the fiscal year ended September 30,1994. In order to be awarded a Certificate of Achievement, the
. City must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such reports must satisfy both generally accepted accounting pnneiples and applicable is legal requirements. A Certificate of Achievement is valid for a period of one year only We believe our current report !
continues to conform to Certificate of Achievement Program requirements, and we are submitting it to the GFOA to j i determine rts eligibility for a new certificate.
In addrtion, the Ci'y received the GFOA's Award for Distinguished Budget Presentation for its annual budget for the fiscal year beginning October 1,1994. In order to qualify for the Distinguished Budget Presentation Award, the City's budget document was judged to be proficient in several categories including policy documentation, operations guidance, financial planning and communications.
Acknowledaments .
, The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of I the entire staff of the Fmance Department, in particular the members of the Accounting and Financial Management
! Divisions who participated in the compilation of the report. We would also like to thank the members of the City Commission for their interest and support in planning and conducting the financial operations of the City in a responsible <
l and progressive manner.
Respectfully submitted,
- Philip F. Inglese, C.P.A.
Director of Finance O
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1 Certificate cd Acnievemen:
ior Exce ence in Financia.
- Reporting i
! Presented to City of Talanassee, F oric a .
!' For its Comprehensive Annual Financial Report l for the Fiscal Year Ended September 30,1994 l A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to
} government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting.
g 3 .E l President i
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[h Executive Director i
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CITY OF TALLAHASEE, FLORIDA Organization Chart The People of Tallahassee l
City Commission I
i i I i City Attorney Treasurer-Clerk City Manager City Auditor i s i i i 7 Director Senior Office of Assistant City Assistant City Assistant City Assistant CW Organizational Manager Manager Manager Manager Effectiveness i
- " "t '
- Dir Police Chief ,n Mn er -
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p ,n Water & Sewer Services General Director D or Fire Chief -
Manager - -
Growth Stormwater Management l l
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Distor j Director General Community -
Manager -
Inf rmation _
Director Improvement Systems Public Works
- Gas Utility Services l Director General Director Director L Parks & -
Manager -
Employee -
Taltran l Recreation Electric Relations i
Neighborhood General Director
& Customer L Manager -
Equal -
Director Aviadon Solid Waste Opportunity Admi st ator Director L- Downtown Development
l CITY OF TALLAHASSEE, FLORIDA LISTING OF CITY OFFICIALS ELECTED OFFICIALS uover Commission. . . . . . . . . . . . . . . . . . . . . . . . . . . . ....... .... .. . .. .. . . .. . ....... . Scott M addox usyor Pro Tem Commissione . . . . . . ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ......Ron W.svn Commissioner . . . .. .. ... ... . .. .. .. . . . . .. .. . .. ... ....... ... . ....... . ........ ... ... Deborah A. Lightsay Commissioner .. . . ....... .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.. .. .............. Steve Maisburg C ommis sioner .... . ...... . . ...... ..... .. ...... .. ... .. .......... .. ................... ............ Penny Shaw H erman APPOINTED OFFICIALS City Menager... .. ... .. . . . . . . . . . . . . . . . ... .. .. . .. .......... . . .. .. ... . . .. .. ... . ..St av en C. Burk ett 3; City Treasurer-Clerk.. . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .. . . . ... . . . . . . . . .. . . . . . . . . R obert B . Inr er City Audit or . . . . ... .. . . .. . . . . .. . . . ... . . . . . .. . .. . . . . . . . . . . . . . . ... .... ......... ...... Ricardo Fernander City Attomey ..... .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.. ......... ...... . . ....... ... .......J ames R. English ASSISTANT CITY MANAGERS Senior Asaistant City Manager ... ....... . .. .. .................. ... ...... .......... . ................. Anita R." Favors Assistant City Manager . . ..... ...... . . ....... . . ...................................... ....J. Sam Bau Assistant City Manager..... .... . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .. .. . . . . . . . . . . . .. . . Anthon y O 'R ourk e Assistant City Manager.. . ...... .. . .. ... .. . . . . . . . . . . . . . . . . . . . . . . . . . . ....... Key Winer DEPARTMENT DIRECTORS Avistion.. . . . . . . . . . . . . . . . . . . . . .. . . . ... . ........ . .. . .. ... ..... . ... . . . ........ . ... .. William R. J ohnson Comtr. 43ty improvement (Actingl.... .. ... .... .. .
. ............... .. . .... ......... ....... Betty H. Riv er e Electric (General Manager). .. . . . . . . . . . . . . . . . . . .. .. .. .. . .. . . . . . . .... ... . . . . ... K evin G. Wailes Employee Relations,. . ... . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. Gloria Hau-McNeil Equal Opportunity . ... .... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........ ..Sharon Ofuani Fin an c e . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. ... Philip F. Inglese Fire... ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .. ..... ... Thomas C. Ouillin Gas Utility (General Manager) . .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
...... Samuel Davis, Jr.
General Services..... .. . . . . . . . . . .. . .. ..... . . . . . . . . . . ....... ..... Kenneth M. Austin Growth Management . .. ..' ... . . . . . . . . . . . . . . . . . . . . . . . . . . . ..... . . Henry L. Holshouser, Jr.
Information Systems Services..... ... . . . . . . . . . . .......... ... . . ....... .. G erald Masemore Office of Organizational Effectivenest .. .. . . . . . . . . . . . . . . . . . . .. ... .. .. ..... David C. Reid Parks and Recreation.. .. . . .. .. . . . . . . . . . . . . . . . . . . . . . .. . Randy Trousdell Planning.. . . . ... . .. .. . . .. . . . . . . . . . . . ..... . Wendy Grey Police . . . . . . . . . . . . . . . . . .. ... . . Thomas R. Coe Public Works. .. . . . . . . . . . . . . . . . . . . .. . . . .. . . . . . . . . Edgar Grant Solid Weste (General Managerl . . . ... . .. .Barry M. Boldissar Stormwstor (Gene ni itanager) ... . . . .. . . . . . . .. . . . . . . . . . . . . . . . . John Buss TalTran (Tallahasm iransit). .. . . . . . . . . . . . . . . .. John L Carter Water and Sewer (General Manager) . . . . . . . . . . . . . . . . . . . . . .. .. James H. Peters A.18
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, FINANCIAL SECTION j This section contains the following subsections:
Auditor's Report General Purpose Financial Statements f Combining and Individual Fund and Account Group-Statements and Schedules e l
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CERNST& YOUNG LLP o certir.e4 rusiic 4<<ouneni, o enone. si3 225 4800 Suite 2200 100 North Tampa Street P.O. Box '40 Tampa rionda 3M01 Report of Independent Auditors Honorable Mayor, City Commissioners and City Manager i City of Tallahassee, Florida We have audited the accompanying general purpose financial statements and the electric, v,ater, sewer, gas and airport individual fund financial statements of the City of Tallahassee, Florida, as of and for the year ended September 30,1995. These general purpose financial statements are the resfonsibility of the City of Tallahassee, Florida's management. Our responsibility is to express an opinion on these financial )
statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards and Govemment Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are
, free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimetas made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above present fairly, in all material !
respects, the financial position of the City of Tallahassee, Florida, as of September 30,1995, and the results of its operations and the cash flows of its proprietary and similar trust fund types for the year then ended in conformity with generally accepted accounting principles. Also, in our opinion, the individual fund financial statements referred to above present fairiy, in all material respects, the financial position of each ;
of those individual funds of the City of Tallahassee, Florida as of September 30,1995, and the results of operations and the cash flows of such funds 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 taken as a whole and on the individual fund financial statements described above. The combining, remaining individ'ial fund, and individual account group financial statements and sahedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of thd general purpose financial statements and the electric, water, sewer, gas and airport individual fund financial statements of the City of Ta!!ahassee, Florida. Such information has been subjected to the auditing procedures applied in the audit of general purpose financial statements and, in our opinion, is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. The supplemental financial data and statistical sections have not been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, accordingly, we express no opinion on tham.
I In accordance with Govemment Auditing Standards, we have also issued a report dated December 21, 1995 on our consideration of the City's intema! control structure and a report dated December 21,1995 on its compliance with laws and regulations.
&+ LLP December 21,1995 Ernst & Young ur is a member of Ernst & ioung internanonal. Ltd.
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i lc-9 m GENERAL PURPOSE r FINANCIAL STATEMENTS (Combined Statements-Overview)
,p i These basic financial statements provide a summary overview of the financial position of all funds and account groups as well as the operating
,i results of all funds. They also serve as an introduction to the more i detailed statements and schedules that follow in subsequent sections.
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CITY OF TALLAHASSEE, FLORIDA COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS September 30,1995 (in thousands)
Govemmental Fund Types Special Debt Capital General Revenue Service Projects ASSETS AND OTHER DEBUS Assets:
Cash and Cash Equivalents... ... 5 8,399 3 18,328 $ -
5 99,382 investments. - - 28,786 5,765 Receivables:
Special Assessments - Current... - - -
24 Special Assessments - Deferred - - - -
135 Accrued interest - 89 184 91 1,051
, Notes.- 9 272 - -
Customers and Other.. . 860 - - -
Accounts.: 1,640 1,413 -
627 ,
Property Taxes-Delinquentm 114 - - -
Less: Anowance for Doubtful Accounts.. (185) - - -
Due from Other Govemments._- - - - 33 Due from Other Funds- 94 - - -
Advance to Other Funds - 939 - -
775 Deposits.. - -
12 -
Inventory 10 - - -
Restricted Assets:
Cash and Cash Equivalents.- - - - -
Investments .- - - - -
Accrued Interest.- - - - -
Accounts Receivable. - - - -
Notes Receivable.. - - - -
Due from Other Govemments.. - - - -
Loans to Other Funds.. - - - -
Unamortized Bond issue Costs. - - - -
Fixed Assets (Not of Accumulated Depreciation).. - - - -
Other Debits:
Amount Available in Debt Service Funds... .
Amount to be Provided for Retirement of .
General Long-Term Debt... - - - -
Total Assets and Other Debits. . . . $ 11,969 5 20.202 5 28,889 $ 107,792 l'
The accompanying notes are an integral part of these financial statements.
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CITY OF TALLAHASSEE, FLORIDA 4 COMBINED BALANCE SHEET- ALL FilND TYPES AND ACCOUNT GROUPS September 30,1995 (Continued)
Fiduciary Totals Proprietary Fund Types Fund Type Account Groups (Memorandum Only)
Intemal Trust and General General Long- September 30 ;
Enterpnse , Jervice Agency Fixed Assets term Debt 1995 1994 l
$ 16,169 $ 4,308 3 20,388 $ - $ - $ 166,974 $ 153,482
- - 370,896 - - 405,447 383,041 ;
- - - - - 24 133 335 46
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. 308 41 208 - - 1,972 2,322
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- - - - - 281 144 !
22,352 - - - - 23,212 18,636 i 1,447 109 56 - - 5,297 3,498
- - - - - 114 80 (1,407) - - - - (1,592) (1,870)
- - - - - 33 478
- 57 458 - - 609 460
- - 44 - - 1,758 1,289
- 7 - - - 19 72 5,301 5,042 - - - 10,353 10,855 108.000 45,733 - - - 153,733 144,451 58,916 - - - - 58,916 63,612 1,133 453 - - - 1,586 1,269 1,301 86 - - - 1,387 1,342 5,454 3,103 - - - 8,557 6,911 579 5 - - - 584 3,164
- 17,857 - - - 17,857 19,663 1,334 -
- - - 1,334 1,129 562,792 37,393 1,412 121,131 - 722,728 687,517
- - - - 28,889 28,889 28,933 l
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- - - - 31,656 31,656 33,735 l 5 783.679 5 114,194 $ 393,462 5 121,131 5 60;45 5 1,641,863 $ 1,564.388 l
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CITY OF TALLAHASSEE, FLORIDA COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS l September 30,1995 (in thousands) .
(Continued)
Govemmental Fund Types j LIABILITIES, EQUITY, AND Special Debt Caprtal ,
OTHER CREDITS General Revenue Service Projects Liabilities:
Accounts Payable.. $ 1,676 3 243 $ - $ 125 Due to Other Govemments.- - - - -
Lease Payable .
Accrued Leave.. . - - - -
Contracts Payable.. - - - - !
. Retainage Payable.- - - - 2,659 Due to Other' Funds.. .
52 ( - - - .j
. Advance from Other Funds.. - . - - -
Utihty Deposits Payable.. - - - -
Payable from Restricted Assets Retainage and Accounts Payable.. - - - -
Customer Advances.- . - - - -
Loans Payable - - - - -
l Claims Payable - ..
Deferred Revenue.. - - - -
l Deferred Compensation Payable.. - - - -
Deferred Revenue.. 1.179 271 -
84 ,
Revenue Bonds Payable.. - - - -
Unamortized Bond Discount..; - - - -
Deferment of Loss on Early Retirement of Debt... - - - -
Loans from Other Funds. .
-l Notes and Loans Payable.- - - - - 7 Prepaid Fees Credit Payable - - - -
Total Liabilities 2,907 514 -
2.868 Equity and Other Credits:
Contnbuted Capital.. - - - -
Investmentin GeneralFixed Assets.. .
Retained Eamings:
Reserved - - - - -
Unreserved... .
Fund Balances:
Reserved.; 3,723 18,928 28,889 95,069 Unreserved:
Designated.; - - - -
Undesignated 5.339 760 - 9.855 Total Equity and Other Credits . . 9.062 19.688 . 28.889 104.924 Total Liabilities, Equity, and Other Credits. . . . - .... 5 11,969 $ 20.202 S 28.889 5 107.792 The accompanying notes are an integral part of these financial statements.
. B-6
I CITY OF TALLAHASSEE, FLORIDA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS September 30,1995 l (Continued)
Fiduciary Totals Proprietary Fund Types Fund Type Account Groues (Memorandum Only)
Intemal Trust and General General Lot g- September 30 Enterpnse Service Agency Fixed Assets term Debt 1995 1994 l 5 13,552 $ 736 5 25 5 -
$ 16,357 $ 13,903 .
23 - -
23 273 31 5,593 1,840 - - 7,880 15,313 14,514 5,282 - - - - 5,282 5,030 2,659 2,698 77 458 22 ,- -
609 460 1,758 - - - - 1,758 1,289 7,596 - - - - 7,596 7,530 1*
7,162 - - - -
7,162 8,767 1 - - - -
1 11
- 21,700 - - - 21,700 21,700 l - 7,981 - - - 7,981 8,195 378 - - - -
378 388
- - 10,007 - - 10,007 8,510 I
- - - - - 1,534 868 ;
221,214 - - - - 25,815 247,029 244,953 '
! (1,611) - - - - (1,611) (2,736) l (3,625) - - - -
(3,625) -
15,356 831 - - 1,670 17,857 19,663
- - - - 25,180 25,180 25,224
, 687 - - - -
687 549 273.420 33.546 10.077 -
60.545 383.877 381.820 69,046 18,653 - - -
87,699 81,397 l
- - - 121,131 -
121,131 110,168 131,263 36,718 l
- - - 167,981 152,233 i 309,950 25,277 - - - 335,227 335,56C !
- - 360,551 - - 507,160 455,899 l
954 - -
954 954 l - -
21.880 - -
37.834 _ 46.357 510.259 . 80.648 383.385 121,131 - 1.257.986 1.182.568
$ 783.679 $ 114,194 5 393.462 $ 121.131 5 60.545 $ 1.641.863 5 1.564.388 I
f The accompanying notes are an integral part of these financial statements. l l
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.. - __.- - - . - - . - - _- = - . - . -. .- . -
CITY OF TALLAHASSEE, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENDITURES, !
AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS For the Fiscal Year Ended September 30,1995 (in thousands)
Govemmental Fund Types Special Debt General Revenue Service {
Revenues:
Taxes 5 27,422 5 - 5 -
Special Assessment Revenues.. - - -
Licenses and Permits _
2,092 - -
Intergovemmental Revenues. 10,694 3,474 -
Charges for Services. 11,992 7,161 -
Fines and Forfeitures.- 1,505 51 -
Interest Eamed. ,
311 709 1,496 Miscellaneous Revenues- . . . . 939 769 * - .
Total Revenues . 54,955 12,164 1.496 .
Expenditures:
Current General Govemment... 14,978 541 -
Public Safety.. 37,888 515 -
. Transportation - 9,748 459 -
Human Services. 2,974 563 -
Economic Development._ 930 2,432 -
Physical Environrnent..- 2,948 5,518 -
Culture and Recreation. 8,857 30 -
Distribution of Eemings.. - - -
Capital Outlay - ..
- 338 -
Debt Service:
Principal Retired-- - - 1,753 Interest and Fiscal Charges. - - 2,850 Refunding Bond issuance Costs - - -
l
- Total Expenditures _ _ 78.323 10.396 4,603 I
Excess of Revenues Over (Under) Expenditures (23.368) 1.768 (3.107)
Other Financing Sources (Uses):
Proceeds from Loan from Other Fund _ - 1,640 -
Proceeds from Refunding Bonds - - -
. Operating Transfers in-: 45,306 2,507 3,063 Operating Transfers Out.- (18,466) (1,911) -
Advance Refunding Escrow - - -
Total Other Financing Sources (Uses) . 26.840 2,236 3.063 Excess of Revenues and Other Financing Sources Over r
. (Under) Expenditures and Other Flnancing Uses . 3,472 4,004 (44)
Fund Balances - October 1_. 5,590 15,684 28,933 Residual Equity Transfer in.. - - -
Residual Equity Transfer Out._ - - -
Fund Balances -September 30. . ..-.. 5 9.062 3 19.688 3 28.889 ;
The accompanying notes are an integral part cf these financial statements.
B-8
CITY OF TALLAHASSEE, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES l
ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS For the Fiscal Year Ended September 30,1995 Fiduciary Totals Fund Type (Memorandum Only)
Capital Expendable September 30 Projects Trust 1995 1994 5 14,879 $ 98 3 42,399 5 38,347 80
- - 2,092 2,669 291 30 14,489 12,147 535 - 19,688 19,588 1,556 1,449 I
5,583 1,032 9,131 8,312 37 43 1,788 2,010
- 21,325 1,203 91,143 84,602 l - - 15,519 14,174 38,403 35,903 254 10,461 9,914
- - 3,537 3,494
- - 3,362 2,311 lI - 8,466 7,487 699 9,586 8,878 1 1 4 26,914 - 27,252 24,016
- - 1,753 3,688 l - 2,850 2,658 l- - - -
277 26.914 ,
954 121,190 112,804
- (5,589) 249 (30.047) (28.202) l 1
- - 1,640 -
- - - 24,965 13,440 -
797 65,113 74,806 (1,091) (1,596) (23,064) (36,682) .
- - - (24,677) 12,349 (799) 43.683 38.412 6,760 (550) 13,642 10,210 98,168 19,126 167,501 157,291
- 4 4 137 l (4) -
(4) (137) l ,
5 104.924 5 18.580 3 181.143 5 167,501 The accompanying notes are an integral part of these financial statements.
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CITY OF TALLAHASSEE, FLORIDA STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL GENERAL FUND For the Fiscal Year Ended September 30,1995 (in thousands)
I 1995 1994 Actual On Variance-Budgetary Favorable Budget Basis (Unfavorable) Actual Actual Revenues:
Taxes... . 5 27,269 3 27,422 5 153 5 27,422 5 25,261 ,
Licenses and Permrts.. .
2,603 2,092 (511) 2,092 2,669 5 Intergovemmental Revenues. 10,835 10,694 (141) 10,694 10,129 Charges for Services.. 10,935 11,992 1,057 11,992 11,563 Fines and Forfeitures.. . 1.444 1,505 61 1,505 1,387 Interest Eamed.. .. 232 311 79 311 326 i Miscellaneous Revenues.. 1.545 1.222 (323)- 939 . 917 l Total Revenues .. - 54.863 55.238 35, _ 54.955 52.252 Expenditures:
Current General Govemmentm 15,350 15,183 167 14,978 13,533 Public Safety.. 39,691 38,351 1,340 37,888 35,624 Transportation... 10,552 9,844 708 9,748 9,539 i Human Services.- 3,066 2,982 84 2,974 2,567 .
Economic Environment... 1,017 930 87 930 672 !
Physical Environment... 3,106 2,958 148 2,948 2,605 Culture and Recreation.- 9.066 8,973 93 8.857 8.234 Total Expenditures. .. . 81.848 79.221 2.627 78.323 72.774 Excess of Revenues Under Expenditures . . (26.985) (23.983) 3.002 (23.368) (20.522)
Other Financing Sources (Uses):
Operating Transfers in.. 45,566 45,306 (260) 45,306 46,376 Operating Transfers Out... (18.581) (18.466) 115 (18,466) (24,942)
Total Other Financing Sources (Uses) . . . 26.985 26.840 (145) 26.840 21.434 Excess of Revenues and Other Financing Sources Over Expenditures ,
and Other Financing Uses . $ - S 2.857 5 2.857 5 3.472 5 912 The accompanying notes are an integral part of these financial statements.
B.10 ,
a
CITY OF TALLAHASSEE, FLORIDA P- Statement of Revenues, Espensee and Changes in Retained Eendagefpund sh AN proprietary pund Types and Sindler Tnset pundo per the plassi Year Ended September 30,1888 (in Stousandel ]
Totete proonstory Fund Twoes Fewery Fund Tvoos (Memorandum Only)
Iremmel Porteson Noneupondetste Septemtier 30 Enteronse Serwoe Trust Trust 1995 1994 l
Operating Revenues- ,
Charges for Servues ......$ 262.024 8 48,404 S - S - 3 310,428 $ 291.983 l Brweetmerit Revenue... . ... - - 10,226 303 10.529 7.055 l 1 Irmalment Gems. Net - - 7,352 - 7,352 17,784
{
Contritpuuons . - 23,395 - 23,395 l 21.357 l Other - - 115 . 12 127 S5 i Total Opermelag 1 - 262.024 48 404 41 088 315 351 831 338 264
+ Operating Empenses, '
Personal Serwces. 30.961 14,158 - - 53,109 50,427 !
Fosed Fuel 50,588 - - - 50,588 39,725 l Poser Purchased 34,838 - - - 34,838 32,674 l Gas Purchased. 4,179 - - - 4,179 5,628 hestensis and *- 8,881 1,185 -. - 9,848 9.062 Contracttel Sarwoes- 45,938 18,875 - -
84.813 56.540 j Other Emper=== 13,200 6,231 - - 19,491 19,355
' !, Lees: Apphed Equgsment Chara== (328) - - -
(328) (319)
Deprenehart 21,720 5,369 - - 27,079 21,682 Amortizehort 327 - - - 327 297 i Senn 8t Payments. . . . . . . - -
8.816 8 8.824 8,364 l
r, ,
Refunds.., - - 1,892 - 1,892 1,319 insurenaa - - 8 - 0 15 l Adminstremort - - 1783 - 1783 1 155
. Total Operating
- 218.134 45 000 12.299 8 276.240 245 924 Operating "- 43890 2 598 28 789 307 75 582 92 340 Nonepersons Revenues (Empenseek interest Rewer= 10,112 3,332 -
,- 13,444 10,508 Gem (Lose) on the Sete of Surplus Property (12) 120 - - 108 41 Grant Revenus 1,824 - - - 1,824 1,463
, Other Revenues. ... 8,258 - - - 8,258 8.980 l Interest Empense... (9.002) (951) - -
(9.953) (5,988) l Other Emponess. ... (1 805) - - -
(1.005) (1 163) l Total Nonepareeng Revenues (Empenses) 9 375 2.501 - - 11 876 13 Og j income Before Operating Transfer = 53,285 5.097 28,789 307 87,458 106.190 l Operating Transfers art 4,743 239 - - 4,982 9,397 Opereung Trenoiers Out. .-.... (45 620) (1411) - -
(47 031) (47 521)
Not ine- 12,388 3,925 28J89 307 45,400 68.066 l
D6eposisen of Not income: , ,
- incromes m Contritiuted Capstel... - - - - -
(158)
Osprecieuen on Contntauted Assets. 2.250 1830 - - 4080 2 227 Net increase in Retained Earninget pund talences 14.638 5,755 28,789 307 49.489 70,135 Retamed Eemmget Fund Belances . Octotier i . 431,355 56,438 330.306 5,403 823,502 753.367 I
Residual Equity Transfer Out.. . . . . . (4 780) (1981 - - f4 978) - -
steemined Earneneet pund neiences . september 38 s 441 213 s 61 995 s 359 095 s 5 710 s Be8 oss s 823 502 l
1 The accompanying notes are an integral part Of these financial statements.
. B-11 l
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CITY OF TALLAHASSEE, FLORIDA Combined Statement of Cash Flows All Proprietary Fund Typse and Similar Trust Funds For the Fiscal Year E,uled September 30,1998 (in the esends)
Totals Propnetary Fund Tm Fduciary Fund Types (Memorandum OnM intemen Pensaan Nonexpendable September 30 Enterpnse Sennee Trust Trust 1995 1994 increase (DecreaW in cash and Cash Equivalents:
Cash 5ews Wom Operating Activetles; C ash Reced %m Customers .. S 248,310 8 404 S - S 12 S 248.726 $ 244 356 C ash Received from Other Funds for Services .. 6,399 49.582 - - 55,981 48.473 En oloyer Contnbutions. - - 14,965 - 14,965 13.494 Empyee Contnbutions... - - , 7.406 - 7,408 6,976 State Contnbutions... - - 1,022 -: 1,022 887 ottu.,- 2,581 - - - 2,581 3 348 Cash Payments to Supphers for Goods and Services-.. (128,984) (27,073) - - (156,057) . (148.926)
Cash Payments to Employees for Senaces (38.366) (14.063) - - (52,429) (49,639)
Payments for Senaces to Other Funds .. (21,262) (516) - - (21,778) (20.921)
Benefits Pod . - - (8,816) (8) (8,824) (0,364)
Refunds Pad .. - - (1,692) - (1,692) (1,319)
Administratwo Cost Pad .. - -
(1 791) -
(1.791) (1 170)
Not Cash Prev 6ded by Operating Activttles - 68 678 8 334 11 096 4 88 112 87 195 Cash Flows from Noncepital Financing Activities:
Operating Transfers in from Other Funds .. 4,743 239 - - 4,982 9,239 Operating Grants Recewed... 1,717 - - - 1,717 1,393 Operating Transfers Out to Other Funds... (45 620) (1.411) - - r47 031) (47 521)
Not Cash Used for Nencapital Financing Activites - (39 160) (1.172) - - (40 332) f36 889) A Cash Flows from Capital and Related Financing Activities:
Ceceipts from Energy Loan Prograrn. 5,014 - - -
5.014 5.742 ,
Proceeds from Se6e of Sands--- 46,780 - - -
46.780 41,478 j Advances from Other Funda.. - - - - - 3.255 Capital Grants Recewed. 5.035 - - - 5,035 3,794 Capital Contnbutions-.. - - - - - 158 Proceeds from the Sale of Property - 370 - - 370 ,
40 System Charges. 4.457 - - - 4,457 4,778 1 I
Acquisition and Construction of Capital Assets .. (40,425) (6.931) - - (47,356) (40.042)
Condusi Equity Transfer Out. (649) (195) - -
(844) -
Pnncipal and Refunding Payments .. (46,678) - - - (46,678) (7.170)
Repayment of Loans From Other Funds .. (557) (341) - -
(898) (361)
Cepeyment of Capaal Advances .....-... (134) - - -
(134) (6.641)
Funding of Energy Loan Program... (4,330) - - -
(4.330) (5,395),
interest Pad (13.362) (951) - -
(14.313) (12,389)
Payments on C,apital Leese .. - (31) - -
(31) r33)
Net Cash Used for Capital and Related Financing ActivMi- (44 849) (8 079) - - (52 928) (12 786) I Cash Flows from investing ActivItles:
Proceeds from Sale end Matuntes of irwestment Secuntes... 37,982 - 110,545 -
148.527 . 230.638 Eeceipts of Interest on Irwestments... 11,206 3,332 17,696 294 32.530 35.678 Purchase of Irwestment Secuntes .. (33 286) -
(139 522) - (172 808) (287 073)
Net Cash Provided by (Used for) Investing .
Activitl= 15 904 3 332 (11 281) 294 8249 (20 757)
Net increase (Decrease) in Cash and Cash Equweents . . 573 2,415 (185) 298 3.101 16,763 Cash and Cash Equwesents . October 1.. 123 596 47 626 545 5357 177 124 160 361 Cash and Cash Equivalents . September 30 5 124 169 3 50 041 5 360 S 5655 5 180 225 5 177 124 Classified As:
Unrestncted Assets.. $ 16,169 $ 4,308 5 360 S 5,655 S 26.492 5 32.673 ;
Restncted Assets .. 108 000 45 733 - - 153 733 144 451 S 124 169 5 50 041 S 360 S 5 655 5 180 225 S 177 124 i
1 i
The accompanying notes are an integral part of these financial Statements.
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CITY OF TALLAHASSEE, FLORIDA Combined Statement of Cash Flows All Proprietary Fund Types and simiter Trust Funds For the Placal Year Ended September 30,1985 (in thousande)
(Consnued)
Totees Pmonorary Fund Types Fiduciary Fund Types (Memorandum Ontv)
Iraemel Pensen Nonexpendecae September 30
, Enterpnee Semco Tnist Trust 1995 1994 Reconciliseen of Opereeng income to feet Cash Prowhead by Operating Acthrless.
Operetng income... S di 890 $ 2 596 S 28.789 $ 307 $ 75 582 L 92 340 Adjustments to Reconcne Operating laceme to Not Cash Provided by Operating Acevilles Depreciabon. 21,720 5,359 - - 27,079 21.682 Canortmenort. 327 - - - 327 297 Prtmson for Wh Accounts 112 -
- - 112 190 Other, . 2,581 - 2,581 3,348 1
Change in Aseats and Webilities:
(incrosse) Decrease m Accounts Receivable (4,761) 25 11 - (4,725) (236)
(Incrosse) Decrosse m Other Accounts Recohable. (173) 1,039 (1) (9) 856 (2.797)
Decrosse m Due from Other Fura.. - - - - - 6 (Incrosse) Decrease m irmmtory .. 1,317 (811) - -
506 395 increase (Decrease)in Accounts Payable 3,029 31 (7) - 3.053 (3.608)
Incramme m Due to Other Furea .. 8 - - - 8 6 incrosse (Decrease) in Customer Contacts Peyebte... 254 - - - 254 (71) increnes m Utility D=paa*= Payable. 67 - - - 67 266 Decrosse m Deferred Revenue. . (10) - - -
(10) (13) increene (Decrease) m Customer Advances. (6) - - -
(6) 7 increene in Accrued Leew= 185 95 - - 280 288 increeee in Propsid Fees Credit. 138 - - - 138 34 Ceceipts of Interest on inweetments .. - -
(17.696) (294) (17 990) (24 939)
Total Adj- ^ 24 788 5 738 (17 693) (303) 12 530 r5145) feet Cash Provided by Operating Activ maa S 68 678 $ 8 334 S 11 096 S 4 5 88 112 S 87.195 Ceeh and Cash Equivalente et End of Year:
The Combined Statement of Cash Flows-All Propnetary Fund Types and Simaler Trust Funde mciudos only Ponson Trust and Nonexpendebie Trust Funds. The Comtuned Bolence Sheet includes all Trust and Agency Funds ecludng Expendebie Trust Funds. The respectwo Cash and Cash Eauwesent basences as meluded on the Combned Beence Sheet are Pensen Trust $360,000. Expendable Trust $14.373,000, and Nonexpendable Trust $5.655,000
/.
The accompanying notes are an integral part of these financial statements.
B-13
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,. NOTES TO FINANCIAL STATEMENTS i
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- _ - - . - ~ - - - - - _ -. - - - . - - - - - __. -
CITY OF TALLAHASSEE, FLORIDA ,
NOTES TO FINANCIAL STATEMENTS September 30,1995 i
NOTE 1 -
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the City of Tallahassee have been prepared in accordance with generally accepted t accounting principles (GAAP) as applied to governmental units. The Govemmental Accounting Standards Board (GASS) ,
is the standard-setting body for govemmental accounting and financial reporting. On June 15,1987, the GASS issued a codification of the then existing Govemmental Accounting and Financial Reporting Standards which, along with subsequent GASB pronouncements (Standards and Interpretations), constitutes GAAP for govemmental units.
This summary of Tallahassee's significant accounting policies is presented to assist the reader in interpreting tne ;
financial statements and other dets in this report. These policies are considered essential and should be read in conjunction with the accompanying financial statements.
A. REPORTING ENTITY The City of Tallahassee is a political subdivision of the State of Florida, located in Leon County in the north central
, portion of the State. Tallahassee, the capital city of Florida, is the county seat 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 81 square miles in area. The City is a full service city, providing its citizens with a full complement of municipal services. In addition, the City owns and operates eight enterprise funds which include five utilities: (an electnc i
generation, transmission and distribution system; a natural gas distribution system; a water production and distribution system; a sewage collection and treatment system; and a solid weste collection system), a regional airport, a bus system, and a golf course. ,
This report includes financial statements of the funds and account groups required to account for those financial activities which are related to the City and for which the City's legislative body, the City Commission is financially accountable.
Financial accountability for other entities (1) exists if the City appoints a voting majority of the organization's goveming f body and it is able to impose its will on that organization or there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on the City, or (2) may exist if an organization is fiscally I dependent on the City regardless of how the organization's goveming body is appointed. On this basis, the following entities are not part of the City of Tallahassee and thus, are excluded from the accompanying financial statements:
L Tallahassee Housing Authority - This authority was created by the City pursuant to Florida Statute 421 which requires the City Commission to appoint the Commissioners of the authonty Operations are administered by the Authority and financed with Federal funds and rentals. Outstanding debt of the Authority is not an obligation of the j City.
l Sunshine State Governmental Financing Commission - The Cities of Orlando and Tallahassee, Florida, enterec l into an interlocal agreement to create the Commission and undertook certain initial risks to ensure its ability to son l
bonds. The Commission is a joint venture between the members of the governmental units (See Note V.B.).
l Crystal River Unit 3 - The City of Tallahassee has an ownership interest in the Crystal River Unit 3 nuclear power l plant operated by Florida Power Corporation. The City's interest does not meet the enteria for inclusion as part of
- the reporting entity since the City is not financially accountable for the operation of the plant. (see Note V.A.).
B. BASIS OF PRESENTATION The accounting records of the City are organized on the basis of funds and account groups. For reporting purposes, the l
various funds of the City are classified into three basic fund types: governmental funds, proprietary funds, and fiduciary I funds. In addition to the various fund types, a fourth category of accounting entities is the account groups.
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C!TY OF TALLAHASSEE, FLORIDA
{
NOTES TO FINANCIAL STATEMENTS September 30,1995 i
NOTE I-(Continued) i Comparative data included in these notes and amounts in the " Totals (Memorandum Only)" columns in the combined i financial statements represent a summation of the combined financial statement line items of the fund types and account j groups and are presented only to facilitate financial analysis. Data in these columns does not present financial position, j results of operations, or cash flows in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the government's financial position and operations. However, comparative data have not been presented in all statements because their inclusion would make certain statements unduly complex and difficult to understand. Certain balances presented in the financial statements for the year ended September 30,1994, ,
have been reclassified for comparative purposes in the accompanying financial statements.
The following fund types and account groupe are used by the City:
GOVERNMENTAL FUNDS The focus of Governmental Fund measurement is upon determination of financial position and changes in financial position (sources, uses and balances of financial resources) rather than upon determination of not income. The following is a description of the Govemmental Funds of the City-GENERAL FUND - The General Fund is the general operating fund of the City, it is used to account for all financial resources except those required to be accounted for in another fund.
SPECIAL REVENUE FUNDS - Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than expendable trusts, or major capital projects) that are legally restricted to expenditures for specified purposes.
DEST 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. . J CAPITAL PROJECTS FUNDS - Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by Proprietary Funds and Trust Funds).
PROPRIETARY FUNDS The focus of Proprietary Fund measurement is upon determination of not income, financial position, and cash flows. The l generally accepted accounting principles utilized for these funds are similar to those used by businesses in the private j sector. The following is a description of the Proprietary Funds of the City.
ENTERPRISE FUNDS - Enterprise Funds are used to account for operations (a) that are financed and operated in a ,
manner similar to private business enterprises - where the intent of the goveming body is that the costs (expenses, l including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the goveming body has decided that periodic determination of revenues eamed, expenses incurred, and/or not income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes.
INTERNAL SERVICE FUNDS - Internal Service Funds are used to account for the financing of goods or services provided by one department or agency of the City to other departments or agencies of the City, of to other govemments, on a cost-reimbursement basis.
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B-17
CITY OF TALLAHASSEE, FLORIDA l NOTES TO FINANCIAL STATEMENTS September 30,1995 ;
NOTE I .(Continued) l t
FIDUCIARY FUNDS ;
TRUST AND AGENCY FUNDS . Trust and Agency Funds are used to account for assets held by the City in a trustee l capacity or as an agent for individuals, private organizations, other govemments, and/or other funds. These include Expendable Trust, Nonexpendaele Trust, Agency, and Pension Trust Funds. Pension Trust Funds and Nonexpendable .
Trust Funds are accounted for in essentially the same manner as Proprietary Funds since capital maintenance is entical. !
Expendable Trust Funds are accounted for in essentially the same manner as Govemmental Funds. Agency Funds are ,
custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. i
~
)
ACCOUNT GROUPS ;
Account Groups are used to establish control and accountability over the City's general fixed assets and the unmatured principal of its general long-term debt, which is not associated with, nor the obligation of, the proprietary or trust funds. !
Accordingly, the City maintains a General Fixed Asset Account Group and a General Long-Term Debt Account Group
. g C. BASIS OF ACCOUNTING !
Basis of accounting refers to when revenues, expenditures or expenses are recognized in the accounts and reported in l the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the !
measurement focus applied. :
All Govemmental Funds, Expendable Trust Funds, and Agency Funds are accounted for using the modified accrual basis ,
of accounting. Their revenues are recognized when they become measurable and available as not current assets. The j following revenues are considered to be susceptible to accrual: grant revenues, rent revenues, cigarette tax revenue, telecommunications revenue, mobile home licenses, state revenue sharing, and special assessments, etc. Interest '
esmed on special assessment levies and interest expenses on offsetting long-term debt are not accrued unless fully matured and unpaid. Property taxes are accounted for on the modified accrual basis when measurable and available. ;
Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is >
incurred. Pnncipal and interest on general long-term debt are recognized when due.
1 All Proprietary Funds, Nonexpendable Trust Funds, and Pension Trust Funds are accounted for using the accrual basis i of accounting. Utility revenues are recorded as esmed. Fuel adjustment revenues are recognized based on the actual j fuel costs. Amounts are charged based on estimated costs and are adjusted semi-annually for any differences between the actual and estimated cost once actual costs are known. ;
Pursuant to the election option made available by GASB Statement No. 20, pronouncements of the Financial Accounting Standards Board (FASB) issued after November 30,1989, are not applied in the preparation of the 'ir.ancial statements [
of the proprietary fund types.
D. BUDGETARY DATA
- 1. BUDGET POLICY - Budgets are legally adopted for the General and Enterprise Funds. Each Budget is controlled at the fund and departmental level. Budgets are adopted on a basis consistent with generally accepted accounting l pnnciples (GAAP) with the exception that encumbrances are reported as expenditures in the year the commitment is incurred. The City Manager is authorized to transfer budget amounts within departments; however, any revision that l alters the total expendit';res of any department or fund must be approved by,the City Commission. During the yeer, several supplementary appropriations were necessary to ensure that expenditures did not exceed budgeted ;
appropriations. In instances where budget appropriations and estimated revenues have been revised during the year, l budget data presented in the financial statements represents final authorized amounts. Unencumbered appropriations +
are closed at year end.
- 2. ENCUMBRANCES - Encumbrance accounting, under which requisitions, purchase orders, contracts, and other !
commitments for the expenditures of resoutces are recorded to reserve that portion of the applicable appropriation, is l employed as an extension of formal budgetary integration in the General Fund, Special Revenue Funds, Expendable l Trust Funds and Capital Projects Funds. Encumbrances outstanding at year end are reported as reservations of fund '
i balance, since they do not constitute expenditures or liabilities.
l B-18 l
l CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE 1 -(Continued)
E. ASSETS, LIABILITIES AND FUND EQUITY
- 1. CASH AND CASH EQUIVALENTS - The City considers cash on hand, cash with fiscal agents, demand deposits and bank repurchase agreements with an original matunty of 90 days or less to be cash and cash equivalents. In addition, each fund's equity in the City's investment pool has been treated as a cash equivalent since cash may be withdrawn from the pool at any time without prior notice or penalty.
- 2. INVESTMENTS - Investments, except for those included in the Deferred Compensation Fund and Matched Annuity
' Plan Program (MAP), are stated at amortized cost. Investments in the Deferred Compensation Fund and MAP Program are stated at market value.
l l
- 3. INVENTORY - The City maintains a vanety of inventory types stated at cost or the lower of cost or market in different
[ funds as follows:
l Inventory Tvoe Fund Valuation Method Fuel Electric Fund Moving average Fuel Gas Fund First-in, first-out Fuel Tallahassee Transit Fund Moving average l Maintenance parts & tires Tallahassee Transit Fund Weighted average l Office supplies, parts, I tires and fuel Intemal Service Funds Moving average Maintenance & repair parts General Fund First-in, first-out First-in, first-out
! Retail merchandise Golf Course Fund The cost of governmental fund-type inventories are recorded as expenditures when consumed rather than when purchased. Perpetual inventory records are maintained for all significant inventories.
- 4. ADVANCE TO/FRQM OTHER FUNDS - Non-current portions of interfund loans receivable (reported in " Advance to" I
asset accounts) of governmental funds are equally offset by a fund balance reserve account which indicates that they do i not constitute "available spendable resources" since they are not a component of not current assets. Current portions of i interfund receivables (reported in "Due from" asset accounts) are considered "available spendable resources". Non-current portions of interfund loans payable of governmental funds are reported in the General Long-Term Debt Account Group since they are not liquidated through the use of expendable available financial resources. The proceeds of such advances to govemmental funds are recorded in "Other Financing Sources".
- 5. FIXED ASSETS - Fixed assets, except for vehicles, used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Account Group. Vehicles are accounted for in the Garage Fund. Public domain general fixed assets consisting of certain improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems, are not capitalized. No depreciation has been provided on general fixed assets.
Fixed Assets, except for vehicles, used in the Enterprise, Internal Service Funds and Expendable Trust Funds are accounted for in the respective funds. Vehicles are accounted for in the Garage Fund. Depreciation of all exhaustible '
l fixed assets used by proprietary funds is charged as an expense against their operations. Accumulated depreciation is l reported on Proprietary Fund balance sheets. Depreciation has been provided over the estimated useful lives using the l straight line method. Depreciation is charged to contnbuted capital for those assets constructed or purchased with fu' ds l received from Grants, Entitlements or Shared Revenues. All fixed assets are recorded at historical cost or estimated histoncal cost if actual cost is not available. Donated fixed assets are valued at their fair market value on the date donated. l B-19 l t
1
l CITY OF TALLAHASSEE, FLORIDA . 1 NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE I -(Continued)
The estimated useful lives are as follows:
Buildings.. . . . . . . . . .. 10 to 40 Years Improvements other than Buildings., . . 10 to 65 Years
' Machinery and Equipment.. . . . . . 10 to 40 Years Vehicles.. . . . .. . . . 5 to 15 Years The City follows the Federal Energy Regulatory Commission's Uniform System of Accounting; therefore, retirements of Utility Funds' plant in sennce are accounted for in accordance with Federal Energy Regulatory Commission regulations, whereby, when an asset is retired, the cost of the asset is charged to accumulated depreciatum
- 6. BOND DISCOUNTS AND ISSUANCE COSTS - Bond discounts and issuance costs are deferred and amortized over the term of the bonds using the effective interest method. Bond discounts are presented on the financial statements as such and issuance costs are presented as other assets.
F. REVENUES, EXPENDITURES AND EXPENSES
- 1. PROPERTY TAXES - Ur. der Florida law the assessment of all properties and the collection of all county, municipal -
and school board property taxes are consolidated in the offices of the County Property Appraiser and County Tax Collector. The laws of the State regulating tax assessment are also designed to onsure consistent property taxes at a rate of up to 10 mills. The millage rate assessed by the City for the fiscal year ended September 30,1995 was 3.200.
All property is assessed by the county according to its fair market value on January 1 of each year. Each assessment roll is submitted to the Executive Director of the State Department of Revenue for review to determine if the rolls meet all of I I
the appropriate requirements of State Statutes.
The current year taxes for the fiscal year, beginning October 1, are billed in the month of November and are due no later than March 31. On April 1, all unpaid amounts become delinquent and are subject to interest and penalbes Discounts l are allowed for early payment at the rate of 4% in the month of November, 3% in the month of December, 2% in the ,
month of January and 1% in the month of February. The taxes paid in March are without discount. l l
Delinquent taxes on real property beer interest of 18% per year. On or prior to June 1 following the tax year, certificates are sold for all delinquent taxes on real property. After sale, tax certificates bear interest of 18% per year or at any lower rate bid by the buyer. "
Application for a tax deed on any unredeemed tax certificates may be made by the certificate holder after a period of two years. Delinquent taxes on personal property bear interest of 18% per year until the tex is satisfied either by seizure and l J
sale of the property or by the five year statute of limitations. l The City Tax Calender is as follows: Valuation Date: January 1; Levy Date: ' November 1; Due Date: March 31, i Succeeding Year; and Lien Date: April 1. Succeeding Year. !
- 2. GRANTS AND OTl'ER INTERGOVERNMENTAL REVENUES - Grants and other intergovemmental revenues ,
recorded in govemmental funds are recognized as revenue in the period when they are measurable and available (modified accrual basis of secounting) within the parameters of legal and contractual requirements. In enterprise funds, grants and other intergovemmental resources that we externally restricted to capital acquisition or construction are recorded as contributed equrty (Contributed Capital accounts) and recognized in the period in which they are samed and ;
become measurable (accrual basis of accounting). Grants and other intergovernmental resources for enterprise fund ,
operating purposes are recognized as "nonoperating" revenues on the accrual basis of accounting.
- 3. IMPACT FEES -Impact fees are recognized as other non-operating revenue (system charge revenues) in the Water and Sewer Funds. These revenues are collected for the exclusive use of the water and sewer systems.
B-20
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995
! NOTE I-(Continued) 1
! 4. AMORTIZATION OF NUCLEAR FUEL - The costs of nuclear fuel, including estimated disposal cost, are charged to l operating expenses. These costs are charged to customers through increased rates or through the fuel adjustment i clause.
! 5. COMPENSATED ABSENCES - All full-time employees esm vacation and sick leave starting with the first day of 4 employment; all part-time employees earn vacation and sick leave in proportion to the number of hours in their normal
- . work day.
i 5
Vacation leave is earned based on years of continuous and creditable service as follows:
I Executive Senior Manaaement General Years of Total Days Years of Total Days Years of Total Days !
Service Per Year Service Per Year Service Per Year Up to 1 15 Up to 1 15 Up to 5 15 i to 5 21 i to 5 18 S to 10 18 S to 10 24 S to 10 21 10 to 20 21 j Over 10 27 10 to 20 24 Over 20 24 1 Over 20 27 l
i A maximum of 43 days vacation leave time may be carried over from one fiscal year to the next for executive employees I and a maximum of 33 days for senior management and general employees. An employee who terminates employment f with the City is paid for any unused vacation leave accumulated to the time of termination.
4 j Sick leave is earned at the rate of four hours for each month of service with no maximum limit on the number of hours
]
which may be accumulated. Effective May 1,1991, employees who have 24 months continuous service and who j experience en absence in excess of 48 consecutive work hours for a medically certifled illness or disability are also i eligible for Catastrophic illness Leave up to a lifetime maximum of 1200 hours0.0139 days <br />0.333 hours <br />0.00198 weeks <br />4.566e-4 months <br />. An employee who terminates from the
. City for any reason other than termination for cause will be paid onMalf of the total amount of sick leave (without regard to catastrophic illness leave) accumulated by him or her on the effective date of termination. If the employee dies, the j sick leave amount will be paid to the employee's beneficiary or estate. Retiring employees can elect the option of using
, the accumulated sick leave amount to purchase single coverage health insurance in lieu of receiving payment.
4 Accumulated current and long term vacation and sick pay amounts are accrued when vested in Proprietary Funds. For Governmental Funds, the liability is recorded in the General Long-Term Debt Account Group. The City has established a reserve in the Human Resources Fund (an intemal Service Fund) to fund accrued leave pay outs which are in excess of annual budgetary amounts.
- 6. INTERFUND TRANSACTIONS
, s. INTRA-GOVERNMENTAL CHARGES - Certain functions of the City of a general and administrative nature are accounted for in internal service funds. The costs accumulated in these funds are allocated to the various funds benefited by the services via charges which are recorded as charges 'or services in the internal service funds and expenses or expendrtures in the benefited funds. Such costs allocated to the funds for the year ernded September 30,1995 are as follows (in thousands):
General.. . $ 10,060 Electric. 8,847 Gas. 1,383 Sewer .. . . 2,816 Water . 2,531 Airport . 409 Tallahassee Transit . 662 Solid Waste . 2,276 Golf course. . 126 Stormwater Management.. 873 M
B-21 4
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE I -(Continued)
- b. TRANSFERS - All interfund transactions except advances, quasi-external transactions and reimbursements are accounted for as transfers. Nonrecurring or nonroutine transfers of equity between funds are considered residual or capital equity transfers. All other interfund transactions are treated as operating transfers.
- 7. RECONCILIATION OF BUDGETARY BASIS TO GAAP BASIS - The following schedule reconciles the " Excess of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses - Budgetary Basis" to the " Excess of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses - GAAP Basis" for the General Fund for the year ended September 30,1995 (in thousands):
Excess of Revenues and Other Financing .
Sources Over Expenditures i and Other Financing Uses - Budgetary Basis , , , . $ 2,857 Adjustments:
Cancellation of Prior Year Encumbrances.. (283)
Recognition of Current Year Encumbrances.. 898 Excess of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses - GAAP Basis . L2,(Z2
- 8. BUDGETARY COMPLlANCE SCHEDULES ON A DEPARTMENTAL AND FUND BASIS:-The following schedules give a comparison on a departmental and fund basis of budget to actual expenditures on a budgetary basis. The City's legally adopted budget requires that we report encumbrances as an expenditure. Budgetary basis expenditures include encumbrances to reflect actual expenditures on a basis consistent with the legally adopted budget. The schedules include budgetary comparisons for both Enterprise and General Fund operations (in thousands).
Deoartments Budaet Exoenditures Variance City Commission. $ 483 5 475 $ 8 Legal.. 1,573 1,565 8 Treasurer / Clerk.. 4,226 3,917 309 Auditing.. 456 447 9 Executive.. 1,928 1,910 18 Office of Organizational Effectiveness.. 11.781 11,560 221 Fire.. 13,426 12,840 586 Police . 25,631 24.925 706 Public Works.. 35,140 34,121 1,019 )
Parks and Recreation. 10,559 10,399 160 General Services. 1,935 1,906 29
- i Planning ,. 2,518 2,457 61 i Community improvement . 4,050 3,980 70 i Aviation. 6,128 5,037 1,091 Tallahassee Transrt . 8,000 7,956 44 Electric.. 149,882 146,156 3,726 ;
Water and Sewer.. 40,207 39,078 1,129 Gas.. 12,015 10,197 1,818 Growtli Management . 3.530 3.463 67 s aan 4E8 s 3?? 199 s 11 079 B-22
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS
. September 30,1995 l
NOTE I-(Continued) l Funds Budaet Excenditures Variance General Fund . $ 95,304 5 92,247 $ 3,057
) Electric Fund . 148,518 145,014 3,504 l Airport Fund . 7,093 6,005 1,088 Gas Fund. .._.. .
12,015 10,197 1,818 Sewer Fund.. ,
24,807 23,918 889 Water Fund . 15,400 15,160 240 l Tallahassee Transit Fund.. 8,000 7,956 44 Solid Waste Fund.. 13,629 13,490 139 Golf Course Fund. 1,493 1,397 96 Railroad Fund.. 62 45 17 l Stormwater Fund.. . 7.147 6.960 187 l
s 333 488 s 37? 380 L11.21.2 1
l
- 9. AIRPORT FUND'S LEASING OPERATIONS - The Airport Fund's leasing operations consist principally of feasing land and buildings under operating leases to airlines, rental car agencies and other commercial enterprises. Lease terms vary from one to twenty-five years and require, in some cases, that leasehold improvements be contributed to the City at lease termination. The following is a schedule, by years of miriimum future rentals on noncancelable operating leesos of i '
l the Airport Fund as of September 30,1935 (in thousands):
l l
I l Years ending September 30, 1996.. $ 1,668 1997.. 1,767 1998. 1,764 1999.. 1,779 2000.. 743 '
l Thereafter.. 2.378 110.D22 Total minimum future rentals do not include contingent rentals that may be realized under certain leases that require
, additional rent if the tenant's gross revenues exceed stipulated minimums. Contingent rentals for the fiscal year ended September 30,1995 amounted to $86,000. .
In October 1989, the City entered into fifteen-year lease and use agreements with its major airline tenants, the signatory airline agreements. Among other provisions, the agreements require that landing fees and terminal rentals be reviewed annually and adjusted so that the total revenues of the Airport System are sufficient to meet the Airport Fund's requirements as determined by the signatory airline agreements. At the end of the fiscal year, after all required deposits have been made, a portion of remaining funds are required to be designated as the Prepaid Fees Credit to be credited against the subsequent year's rates for rentals, fees and charges. Remaining funds are to be designated to Prepaid Fees Credit as follows: 60% for the first five fiscal years, and 50% in subsequent fiscal years. The allocation of the Prepaid Fees Credit is 85% toward terminal rentals and 15% toward landing fees.
l The Prepaid Fees Credit is recorded as a current liability in the amount of $687,000 and $549,000 for the 1995 and 1994 )
fiscal years, respectively.
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l B-23 )
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j
1 CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 l NOTE I-(Continued)
The residual portion of remaining funds, (40% for the first five fiscal years and 50% for subsequent fiscal years), is to be allocated to the Signatory Airline Capital Account (25% up to $134,000, adjusted for inflation) and the Airport System Capital Account (75%). Signatory airlines constituting a majonty-in-interest shall direct the use of the Signatory Airline Capital Account. Funds on credit to the Airport System Capital Account shall generally be used to pay the costs of improvements in other than airline supported areas; or the cost of improvements in airline supported areas for which the signatory airlines are not financially responsible under the agreement.
The minimum rentals to be paid by the signatory airlines under this agreement will vary each year and such amounts have not been included in the above schedule of minimum future rentals.
The fifteen year lease and use agreements with the City's major airline tenants (the signatory airline agreements) are reliant on the ongoing operations of the signatory airlines.
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1 B-24 l I
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE ll- STEWARDSHIP, CONPLIANCE, AND ACCOUNTABILITY A. COMPLIANCE WITH FINANCE-RELATED LEGAL AND CONTRACTUAL PROVISIONS The City has no material violations of finance-related legal and contractual provisions.
B. DEFICIT RETAINED EARNINGS OF INDIVIDUAL FUNDS The Communications Fund, an Internal Service Fund, had a deficit retained eamings of $36,000 at September 30,1995. The deficit will be eliminated by transfer of funds from other operating funds during the 1996 fiscal year.
C. EXCESS OF EXPENDITURES OVER APPROPRIATIONS IN INDIVIDUAL FUNDS AND DEPARTMENTS
~
No individual fund or department contained an excess of expenditures over appropriations. -
D. ESTABLISHMENT OF NEW FUND
, During 1994, the Scholarship Fund was established as a non-expendable trust fund. The corpus of $250,000, must be preserved intact and all earnings to be used to fund scholarships for high school students.
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B-2S
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l CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE Ill- DETAll NOTES - ALL FUNDS AND ACCOUNT GROUPS A. ASSETS
- 1. CASH AND CASH EQUIVALENTS AND INVESTMENTS The City of Tallahassee maintains a cash and investment pool *at is available for use by all funds. Each fund's portion of this pool is reported in " Cash and Cash Equivalents." Interest earned by this pool is distributed to each fund monthly based on weekly balances. In addition, investments are separately held by several of the City's funds.
DeFosits - At year end, the book balance of the City's deposits was $2,030,000 and the bank balance was $5,671,000.
The difference between the book balance and bank balance is due to outstanding checks. The bank balance is insured by federal depository insurance and, for the amount in excess of such federal depository insurance, by the Stato of
> Flonda's Public D.eposit Act. Provisions of the Act require that public deposits may only be made at qualified public depositories. The' Act requires each qualified public depository to deposit with the State Treaturer eligible collateral equal to or in excess of the required collateral as determined by the provisions of the Act. In the event of a failure by a qualified public depository, losses, in excess of federal depository insurEnce and proceeds from the sale of the securities pledged by the defaulting depository, are assessed against the other qualified public depositones of the same type as the depository in default. When other qualified public depositories are assessed additional amounts, they are assessed on a pro-rata basis.
Investments - The City's investment guidehnes, as defined by the City Charter and its written investment pcaicies, are approved by the City Commission cr the Sinking Fund Commission. The investment policies established thrt..
investment pools: 1) The General Operating Pool, which covers all monies of the City not otherwise classified and is included in the above-referenced cash and investment pool; 2) the Sinking Fund Pool, which covers all monies set aside for the payment of principal and interest on the City's notes, bonds, or other obligations of indebtedness; and 3) the Pension Fund Pool which covers all monies of the City's pension funds. According to the City Charter, the City Treasurer-Clerk is designated to invest all monies belonging to the City pursuant to the policies approved by the City Commission, except those monies in the Sinking Fund and Pension Fund Pools. Monies in the Sinking Fund and Pension Fund Pools are invested under the auspices of the City Charter-created Sinking Fund Commission, which consists of the five City Commissioners and three appointed members. Under the policies approved by the City Commission and the Sinking Fund Commission, the day-to-day investment of all monies i;, managed by the City Treasurer-Clerk.
I The City's banking arrangement requires daily cash balances to be invested in an overnight repurchase agreement at the federal fund rate. The repurchase agreement's balance at September 30,1995 is $7,000,000.
Authorized investment instruments for General Operating and the Sinking Fund pools are as follows:
General Sinking ODeratina Fund Repurchase Agreements... X X Certificates of Deposit.. . X X Bankers' Acceptances.. X X Commercial Paper Rated A-1 by Stand /ard & Poor's or P-1 by Moody's . X X .
U. S. Treasury Bills, Bonds or Notes... X X U. S. Govemment Agencies.. , X X Mortgage-backed Government Obligations . X -
Corporate Fixed income Securities rated at least A by Standard & Poor's or Moody's. X j Flonda State Board of Adm'nistration Local Governments Surplus Funds investment Pool, X X The Pension Fund Pool may be invested at a level considered acceptable for Me plan as adopted oy the Sinking Fund Commission. The level of acceptable risk has been determined to equal the risk of a market portfolio composed of: 50% in the S&P 500 Stock Index, 7.5% in the Russell 2000 Value Index, 7.5% in the Russell 2000 Growth Index, 30% in Shearson Aggregate Index, and 5% in the Frank Russelt Company Real Estate Index.
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B-26
h l CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS
- September 30,1995 NOTE Ill-(Continued) f in addition to authorizing inwestment instruments, the City's policies also identify various portfolio parameters
- addressing issuer diversification, term to matunty and liquidity, and requirement of " purchase versus delivery'*
perfection for secunties held by a third pcrty on behalf of and in the name of the City.
P i The City's investments for all pools are summarized and categorized under GASB 3 guidelines as follows to give an j indication of the level of risk assumed by the City at September 30,1995 (in thousands):
i j, Cateaory Carrying Market j_ 1 2 3 Amount Value j Repurchase Agreements.. $ -
$ 7,000 $ -
$ 7,000 $ 7,000 U. S. Government .
Secunties.. . . 115,672 - - 115,672 115,370 4
'U. S. Government Agencies.. 116,613 - - 116,613 115,378 Commercial Paper.. 39,929 - - 39,929 39,927
, Corporate Fixed income -
Secunties.. 51,137 - - 51,137 50,8.76 3 .
i, Corporate Equity Secunties.. 137 341 - - 137 341 _ _177.920 j S 460 692 1 7 000 1 - 467,692 506,471 l> Investment in Florida State Board of Administration Local Govemments Surplus Funds investment Pool. . 80,744 80,744
~
. Investment in Mutual Funds.. . .. . . . .
165,273 209,071 jj investment in Guaranteed investment Contract.. .. . 44,679 44,679 p investment in Real Estate.. . . . 24,652 23,092 Accrued Interest... .. . . . . . . 3.558 3.558
- Total investments.. .. ..
m 1 887 815 I*
} Category 1 includes investments that are insured or registered or for which the securities are held by the City or it9 agent in the City's name. Category 2 includes uninsured and unregistered investments for which the securities are held by the counterparty's trust department or agent in the City's name. Category 3 includes uninsured and unregistered investments for which the secunties are held by the counterparty in the City's name of held by the counterparty's trust department or agent, but not in the name of the City, U.S. Govemment Securities are principally composed of U.S. Treasury bills and notes. U.S. Govemrtient Agencies include instruments issued by the Federal Home Loan Mortgage Association, Federal National Mortgage Association and the Student Loan Marketing Association. Corporate Fixed income Secunties contain both taxable and tax exempt instruments issued by U.S. corporations and municipalities. As part of its interest risk management program, the City 1, utilized floating rate notes in its U.S. Government Agencies and Corporate Fixed income Securities.
- 2. FIXED ASSETS During the fiscal year ended September 30,1995, the following changes occurred in the general fixed assets account group (in thousands):
Balance Balance October 1 September 30, 1994 Adddions Deletions 1995 Land.. $ 27,540 $ 937 $ - $ 28,477 Buildings . 36,788 166 - 36,954 Improvements Other Than Buildings .. .
11,051 -
(174) 10,877 Equipment.. .
13,281 382 (2,719) 10,944 Construction in Progress.. 20,819 16,741 (4,387) 33,173 Equity investment in Railroad Fund.. 689 17 - 706 111016B M 1 r7 790) 1 121 131 B-27
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE 111 -(Continued)
General fixed assets construction in progress consisted of the following at September 30,1995 (in thousands):
Required Project Future Authorized Exoanded Committed Fundina Land Acquisition.. $ 2,518 $ 445 $ 2,073 None Mixed Use Parking Garage. .
20,887 19,245 1,642 None Parks & Recreation Facilrties . 4,820 2,286 2,534 None Police Station Expansion / Equipment.. 4,876 4,574 302 None Science Center.. . 3,050 704 2,346 None Gymnastics Center.. .
3,581 223 3,358 None Animal Shelter.. 3.053 1,351 1,702 None Fire Station Relocation.. 3,427 451 2.976 None Miscellaneous Projects . 10.451 3.894 6.557 None s 58 883 s 33 122 s ?3 490 Proprietary fund type fixed assets consisted of the following at September 30,1995 (in thousandi):
Enterorise intemal Service Land.. $ 10,732 $ 108 Structures and improvements.. 258,180 591 Equipment.. 474,417 11,693 Vehicles.. - 57,301 Construction in Progress.. 72.730 -
Total . 816,059 69,693 Less: Accumulated Depreciation. (253 267) (32.3001 Net.. s 68? 792 s 37 393 The amount reported for equipment in the internal Service Fund as of September 30,1995 includes capitalized lease equipment purchased un<.,er capitalized leases of $4,163,000. Accumulated depraciation on the leased equipment totaled
$2,610,000.
Net interest costs incurred during Icng-term construction projects are caprtalized. Capitalized irterest in the proprietary funds consisted of the following at September 30,1995 (in thousands):
Electric W ater Sewer Gas Airport Fund Fund n Fu.nd_ Fund Fund Total Interest Cost Incurred.. 1 $.528 $_521 1.1.011 1 928 1 1.252 Interest Cost Capitalized... $ 3,232 $ 267 $ 723 $ 184 $ 220 ,
Interest Earned Bond Proceeds . (1 040) (64) (187) (14) (109)
Net Interest Capitalized.. 1 2.122 1 202 W 1 1Z2 1 111 i
O B-28
CITI OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE Ill -(Continued) ,
Fixed Assets for each Enterprise Fund and intemal Service Fund consisted of the following at September 30,1995 (in thousands):
Structures and Construction Less Accmlated Land improvements EauiDment Vehicles in Proaress Total Ds.2reciation _ Net Enterpnse Funds ,
Electric.. $ 4,642 $ 39,499 $ 362,148 $ - $ 36,876 $443,165 $ 171,548 $271,617 Gas .. 107 19,489 8,325 - 5,440 33,361 6,502 26,859 Sewer.. 1,049 85,136 71,622 -
13.275 171,082 34,748 136,334 W ater.. . 237 47,832 22,991 - 4,590 75,650 18,765 56,885 Airport .. . . _ 2,703 58,851 4,697 - 9,257 75,508 16,783 58,725 1,850 6,286 1,060 - 3,088 12,284 2,473 9,811
[ Tallahassee Transit.. 2,447 1,796 651
'o Solid Waste..._ -
280 2,167 - -
Golf Course.. 144 807 1.407 -
204 _., 2.562 652 1.910 Total . 1 10_732 1258 180 1474 417 1 -
1 72.730 $316.059 1 253 267 15fg,J.22 Internal Service Funds:
Reading, Billing and Collection .. $ -
$ 220 $ -
$ 220 $ 133 $ 87 Information Systems Services . - - 9,671 - - 9,671 3,663 6,008 Accounting .. - - 91 - -
91 55 36 Central Stores . 50 258 22 - -
330 159 171 Purchasing. - - 103 - - 103 54 49 Garage.. . 58 330 1,202 57,301 - 58,891 27,954 30,937 Human Resources.. - - 80 - -
80 42 38 Pension Administration. - - 1 - -
1 1 -
I Risk Management.. .
- - 1 - -
1 1 -
Communications ._ - 3 .._ 332 - -
305 238 67 Total. 1 -,, 108 1- 52.1 111.023 1.AZ.'Mll 1 -
1.52,623 1 32 300 1.3Z,292 I
1 CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 ,
NOTE Ill-(Continued)
- 8. LIABILITIES ,
i
- 1. PENSION PLAN 08 LIGATIONS The City's pension plan was established by Chapter 17 of the City Code of Ordinanus. Under the plan the City provides a single employer defined benefit provision covering general employees (Article 11), petice officers (Article til) and firefighters (Article IV), and a defined contribution provision (Article V - Matched Annuity - MAP) covering all City employees. The provisions of the pension plans are " qualified" under the intomal Revenue Service Code, which makes employee contributions tax deferred. ,
- s. Defined Benefit Provision - Established through Parts A, B, and C in Articles 11, Ill, and IV. Parts A and B are closed to further participation while part C provides coverage to all new employees. All members of the pension plan are covered by one of these parts depending upon employment date. These parts provide a detail desenption of the various defined benefit provisions. These provisions include the types of employees covered, benefit provisions, employee eligibility requirements for normal, early and/orvested retirements, and the related benefits for each of these retirements, prwetirement death benefits, and provisicos for disability retirements. There are also post retirement cost-of-living adjustments (COLA) and health care supplements.
l
- b. Defined Contribution Provision - N! employees (general, firefighters, and police officers) may elect to contribute a portion of their salary to the plan. Gr.noral employees, Firefighters and Police Officers can contribute up to 20% of their gross pay not to exceed the maximum amount allowed by the Intemal Revenue Service. The City contributes 4% to each general employee's MAP account. Upon reaching normal retirement age or retiring under the plan, a pafticipant shall be paid his contributions, together with accrued eamings, if a general employee uses the contributions and accrued eamings to purchase an annuity contract, the plan will increase the amount of funds (only on the City's 4%, employee flex matched contribution through December 31,1994 and employees' contribution up to 5%) used by the participant by a factor of 50 percent. Employee contnbutions (including the City's 4% contribution to each general employees MAP account) plus accrued eamings thereon are 100% refundable if the employee elects to terminate his vesting rights or is not vested at the date of employment termination.
- c. Funding Status and Progress - The amount shown below as the " pension benefit obligation" is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases and '
step-rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help users assess the funding status of the plan on a going-concem basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure is the actuarial
. present value of credrted projected benefits and is independent of the funding method used to determine contnbutions to the plan. The pension benefit obligation was computed as of September 30,1994. Significant actuarial assumptions used in calculating the pension benefit obligation include (a) an interest rate of 8% per annum compounded annually, (b) projected salary increases for inflation and msrit of 6.5% per annum compounded annually, (c) inflation rate of 4.5% and, (d) post retirement benefit increases including 3% cost-of-living adjustments and a health cara supplement.
The total assets in excess of pension benefit obligation as of September 30,1994, were as follows:
Pension Benefit Obliaction fin thousandst 4
e Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving benefits $ 104,309
- Current empioyees:
Accumulated employee contnbutions 66,426 Employer-financed vested 54,867 Employer-financed nonvested 85.866 Total Pension Benerrt Obligation 311,468 e Not assets available for benefits (actuarial value) 349.341
- Assets in excess of Pension Benefrt Obligation 1 37 873 The market value of not assets available for benefits was $354,792,000.
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CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE Ill-(Continued)
EgD11pn Plan Information:
1995 Membershio Statistical Information A. Retirees and beneficiaries of deceased retirees currently receiving benefits 552 i B. Terminated employees entitled to oenefits but not yet receiving benefits 50 I C. Active employees:
Fully vested 1,877 Non-vested 860 D. Total current year's payroll $92,563,000
. E. Current year payroll for employees covered by the Plan - $82,128,000
- d. Actuarially Determined Contribution Requiremente and Contribution Made - The contributions required to support the beneAts under Article lliIll and IV, other than pre-retirement death benefits, are determined based on a level funding
- , ' approach and consist of a normal contribution and an accrued liability contribution. The normal contribution is determined using the entry age actuarial cost method. Under this method, a calculation is made to determine the uniform and constant ii percentage rate of contribution which, if applied to the compensation of the average new member during the entire period of his anticipated covered service, would be required to meet the cost of all benefits payable on his behalf.
The unfunded actuarial accrued liability contribution is funded when necessary using the entry age actuarial cost method with amortization period of fifteen years. Additional contributions are made on a term cost basis to support the pre retirement I death benefits.
ll Employer contributions required to support the benents under Article V (MAP Program) are determined following a level funding aggregate approwh. The present value of prospective employer contributions is determined by subtracting the :
l l, present value of prospecove member contributions and present assets from the total present value of beneAt expected to be
. paid from the program. Contributions durjng fiscal year 1995 btmling $8,096,000 ($4,455,000 employer contributions representing 6.70% of covered payroll for general employees and $3,641,000 voluntary employee contributions representing 4.12% of total covered payroll), were made in accordance with contribution requirements determined through an actuarial l valuation performed as of September 30,1994. Total covered payroll for the MAP program was $66,589,000 for general f, employees and $21,756,000 for police and firefighters. Total covered payroll for fiscal year 1995 was $88,345,000.
. Contributions are based on rates of covered payroll of 7.09% for the City and voluntary employee contributions of 0% - 20%
for general employees, firefighters and police officers.
li Contributions to the Defined Benefit Plan in 1995 amounted to $14,277,000 of which $10,510,000 and $3,767,000 were made
'! by the City and its employees, respectively. In addition, the State of Florida contribution for the Police and Fire plans amounted to $604,000 and $418,000, respectively. The contributed amounts were actuarially determined as described above and were based on an actuarial valuation as of September 30,1994. Contributions made by the City of Tallahassee and its
,{ employees are detailed in the table noted below. .
The significant actuarial assumptions used to compute the actuarially determined contribution requirements are the same as l ,, those used to compute the pension benefit obligation as described in the preceding page.
1 The employer pension cost as a percentage of payroll for each Plan is as follows (in thousands):
General Emds;;;; Police Firefiahters Percent of Percent of Percent of Amoun,,t,,,, __ Pavroll Amount Pevroll Amount Payroll Contribution Requirements:
Normal Cost.. . . . . . $ 11,122 17.73 % $ 3,068 26.81 % $ 2,160 27.63 %
Urtfunded Accrued Liability (Surplus).. . . . (589) (0 94%) (299) (2 61%) (163) (2.09%)
94?n% s 95 54 %
l- , Total.. . .
1 in M*t M i ? 789 1 QQ7 i
B-31 l
l
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 ;
i NOTE Ill-(Continued)
General Emolovees Police '
Firefiahters ,
Percent of Percent of Percent of Amount Payroll Amount Pavroll Amount Pavroll J Contribution Made:
City .. . $ 8,033 12.79% $ 1,515 13.23% $ 962 12.23% ,
Employee.... . . . 2,500 4.00 % 650 5.70 % 617 8.00 % :
State of Florida.. ..
- - 604 5 27 % 418 5 31 %
Total... .. . .. s 10 n t's m n > 7ao m a 1 no7 m A separate Article V MAP employer contribution is also payable for general employoos, police officers and firefighters. l Firefighters,and police officers MAP plans were amended on October 1,1988 and June 1,1990 eliminating the City's required contnbution. The Article V MAP employer contribution for general employees was 6.70%, 7.04% and 5.29% for 1995,1994 and 1993, respectively. j
- e. Trend Information - Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due.
i The following first eight years of the ten-year historical trend information, prepared in accordance with Govemmental Accounting Standards Board Statement No. 5, provides informatkvi on progress made in accumulating sufficient assets to pay benefits when due. The purpose of the chart is to establish a consistent method for analyzing and making compa/isons among different public retirement systems. Information prior to 1987 is not available and accordingly is omitted from this table. The following information also presents three year trend information required by Governmental Accounting Standards Board Statement No. 5. .
i Reauired Supplementary information Analysis of Fundina Proaress !
(in millions)
(1) (2) (3) (4) (5) (6)
Assets in Assets in Not Excess of Excess of Assets Pension PSO as %
Fiscel Available Pension Percentage Benefit Annual of Covered Year fbr Benefit Fu~nded Obligation Covered Payroll J M gL Benefits Oblication (1) / (2) (1) - (2) Pavroll (4) / (5) 9/30/87 $ 128.8 $ 125.4 103 % $ 3.4 8 44.3 8%
9/30/88 $ 153.6 8 142.1 108 % $ 11.5 5 49.3 23 % ;
9/30/89 $ 177.7 $ 164.1 108 % $ 13.6 $ 54.0 25 % i 9/30/90 $ 200.2 $ 183.0 114 % $ 26.2 $ 64.0 41 % l 9/30/91 5 241.6 3 215.3 112 % $ 26.3 $ 70.0 38 % '
9/30/92 $ 274.9 $ 235.5 117 % $ 39.4 $ 72.8 54 %
9/30/93 $ 313.1 $ 264.5 118 % $ 48.6 5 75.3 65 % ;
9/30/94 5 349.3 $ 311.5 112 % $ 37.8 8 79.0 48 %
1 in addition, for the three years ended September 30,1,995,1994, and 1993, the City contributions to the defined benefit plans, all made in accordance with actuariai;y determined requirements, were 12.80%,11.53% and 12.02% respectively, of annual
, covered payroll.
- Analysis of the dollar amounts of not assett available for benefits, pension benefit obligation and assets in excess of pension benefit ooligation in isolation can be misleading. Expressing the not assets available for benefits as a percentage of the pension benefrt obligation, provides one indication of the systems' funding status on a going-concern basis. Analysis of the percentage over time indicates whether the system is becoming financially strongar or weaker. Generally, the greater this percentage. the stronger the system?
" Trends in assets in excess of pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the assets in excess of the pension benefit obligation as a percentage of annust covered payroll approximately adjusts for the effects of inflation and aids analysis of the systems' progress in accumulating sufficient assets to pay benefits when due.
Generally, the greater this percer.tage, the stronger the system.
B-32
. , ,. - ~ _ . - . ,
CITY OF TALLAHASSEE, FLORIDA l NOTES TO FINANCIAL STATEMENTS September 30,1995 l NOTE Ill-(Continued)
~ Net assets for fiscal years 1991-1994 have been presented' at adjusted market value. The other years have been l presented at book value.
i
!* Revenues by Source (in thousands)
Employer Contributions as a Percent Fiscal Employee
- Employer of Covered State other " investment l h Contnbutions Contnbutions Payroll Contributions Revenue Income Total
- 22,720 1986 $ 4,386 $ 5,823 $ 530 $ 241 8 11,740 $
1987 .c 4,688 6,802 15.3% 102 9 22,499 34,100 1988 3 5,247 7,478 15.2 % 1,370 12 17,718 31,825 1989 5,399 8,640 16.0 % 752 9 13,839 28,639 1990 6,428 8,760 13.7 % 787 12 21,816 37,803 1991 6,791 8,898 12.7% 754 22 15,047 31,512 1992 6,687 12,235 16.8 % 805 47 20,269 40,043
( 1993 6,789 12,275 16.3 % 841 41 21,099 41,045 1994 6,976 13,494 17.2% 887 66 24,557 45,980 l.
l 1995 7,408 14,965 18.2 % 1,022 115 17,578 41,088 Excenses by Tvos (in thousands) l,. Fiscal Administrative
,! ,yggf, Benefits Excenses Refunds insurance Total l,
' 1986 $ 2,921 $ 614 $- 607 $ 229 8 4,371
/ 1987 3,264 686 954 25 4,929 1988 3,752 779 1,132 13 5,678 1989 4,267 727 879 17 5,890 1990 4,750 772 768 12 6,302 i 1991 6,627 832 934 22 8,415 i 1992 6,832 898 957 13 8,700 l 1993 7,295 978 1,188 31 9,492 l 1994 8,364 1,155 1,319 15 10,853 .
1995 8,816 1,783 1,692 8 12,299 ll l
- Contributions were made in accordance with actuarially determined contribution requirements.
f " Investment income excludes unrealized gains and losses on investments. .
"*Not available.
!' 2. OTHER EMPLOYEE BENEFITS
- a. Deferred Compensation The City of Tallahassee offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all City employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, P retirement, death, or unforeseeable emergency.
All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attnbutable to those amounts, property, or rights are.(until paid or made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the plan),
subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the City in an amount equal to the fair market value of the deferred account for each participant.
- it is the opinion of the City's legal counsel that the City has no liability for losses under the plan but does have the duty of due care that would be required of an or,dinary prudent investor. The City believes that it is unlikely that it will use the assets to satisfy the claims of the general creditors in the future.
i, B-33 a -- . . - - . , - - -- .w ,r.. , , , . -. . ,- ,
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE lil-(Continued)
The City has chosen to have this plan administered by an independent plan administrator. By agreement between the employee and the City, an arrengement has been made to have the applicable portion of the employee's compensation deposited with the International City Management Association Retirement Corporation's national trust fund or the Prudential Asset Management Company, Inc. They invest and reinvest the money and credit each account with earnings from its investments.
- b. Flexible Benefite - The City implemented a " Cafeteria" Plan created in accordance with Intemal Revenue Code Section 125. The plan provides employees with an opportunity to select benefits from a menu of options, many of which are offered on a pre-tax basis.
- 3. POST EMPLOYMENT BENEFITS
- Established through Chapter 17 of the City Code of Ordinances, retirees under the City's Pension Plan may 3 participate in the health insurance plans offered by the City. The retiree is required to pay the full cost of the insurance. The City provides a health tare supplement equivalent to $3 per month for each year of service (maximum not to excead $90 per month per employee). This post employment benefit is funded through the City's contnbution to the pension plans, and is based on a level funding approach using the entry age actuarial cost method. .
- 4. OUTSTANDING CONTRACTS The City has outstanding commrtments on various contracts for construction and other projects. These commitments, as of September 30,1995, in the respective funds are as follows (in thousands):
General Fund.. $ 158 Special Revenue Funds . 193 Capital Project Funds . 2,554 Internal Service Furids . 149 Stormwater.. 26 Enterprise Funds Electric.. 1,133 Sewer.. 1,061 W ater.. 488 Airport.. 105 Tallahassee Transit.. 5 Solid Waste Fund.. 547 Total. 10.112 .
5, LONG. TERM DEBT
- a. The following is a summary of the changes in the general long-term debt account group for the City for the year ended September 30,1995 (in thousands):
Balance Balance October i Addrtions Reductions Sectember 30 General Revenue Bonds. $ 27,465 5 -
$ 1,650 $ 25,815 Accrued Leave.. 7,401 4,018 3,539 7,880 Note Payable..
- 259 - 44 215 Loans from Others Funds. 2,578 1,640 2,548 1,670 Loan Payable.. 24 965 - - 24.965 s 67 ses s s esa s 77s1 s 80 545
- b. Summanzed below are the City's individual bond issues which were outstanding at September 30,1995:
General revenue bonds:
$21.220,000 Capital Bonds - Series 1989, due in annual installments of 5750,000 to $805,000 from October 1,1996 to October 1,1997, interest rates at 6 9% to 7.0% depending on matunty d ate. $1,555,000 B-34
I 4 CITY OF TALLAHASSEE, FLORIDA I
, NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE Ill-(Continued) J i
4
$18,770,000 Capital Bonds - Series 1993A, due in annual installments of $980,000 to $1,655,000 from October 1,1996 to October 1,2008, interest rates at 3.5% to 5.20% depending on maturity date. 16,560,000
$7.700,000 Capital Bonds - Series 19938, due in annual installments of $1,620,000 to $2,580,000 .
from October 1,2009 to October 1,2012, interest rate at 5.05% to 5.25% depending on maturity date. 7.700.000 I US R15 000 The general revenue bonds are payable from and secured by first lien and pledge of the Public !
Service Tax, Local Government Half-cent Sales Tax, Guaranteed Entitlement Revenues, and eamings on the investment of all funds and accounts created by and described in Resolutions, I
Proprietary revenue bonds: l l
$2,862.000 Junior Lien Electric Revenue Bonds (Mini bonds)-Series 1992A, five year bonds due February 1,1997, with a tem payment of $1,410,000, interest at 5.50%, and ten year bonds due February 1,2002, with a term payment of $1,372,000, interest at 6.0%. Bonds are subject to redemption prior to stated maturities and are presented at face amount outstanding plus accretion of $647,000. Bonds are secured by provisions of the 1992 General Resolution which includes not revenues of the City's Electric System and certain other amounts as provided by Resolution. $ 3,429,000 l
$75,700,000 Electric Refunding Revenue Bonds - Series 1992A, due in annual installments of
' $4,445,000 to $7,895,000, from October 1,1996 to October 1,2007, interest rates at 4.4% to i # 6.10% depending on matunty date. Bonds are secured by provisions of the 1992 General Resolution which includes not revenues of the City's Electric System and certain other amounts
,+ as provided by Reschstion. 67,300,000
- $40,090,000 Electric Revenue Bonds - Series 1992B, due in annual installments of $4,000,000 to $8,110,000 from October 1, 2004 to October 1, 2012, interest at 5.8% to 6.25% depending on
, maturity date. Bonds are secured by provisions of the 1992 General Resolution which includes not revenues of the City's Electric System and certain other amounts as provided by Resolution. 40,000,000
$37,725,000 Consolidated Utility Systems Revenue Bonds - Series 1994, due in annual installments of $865,000 to $2,885,000 from October 1,1997 to October 1,2019, interest rates at 4.55% to 6.20% depending on matunty date. Bonds are payable and secured by
! lien on and pledge of certain funds provided by Resolution, not revenues of the City's Utility System (consisting of the City's water, sewer and gas systems), and the gross revenues of the City's Stormwater Drainage System. Lien on Pledged Revenues is on
- parity with the lien of Consolidated Utility Systems Revenue Bonds Series 1991A and Series 19918. 37,725,000 l'
$46,780,000 Consolidated Utility Systems Revenue Bonds Series 1995, due in annual installments of $360,000 to $4,390,000 from October 1,1996 to October 1,2019, interest rates at 3.70% to 6.00%
depending on matunty date. Bonds are payable and secured by lien on and pledge of certain funds provided by Resolution, not revenues of the City's Utility System (consisting of the City's water, sewer and gas systems), and the gross revenues of the City's Stormwater Drainage System. Lien on Pledged Revenues in on panty with the lien of Consolidated Utility Systems Revenue Bonds Series 1991A and Series 19918. 46,780,000
$4,490,000 Consolidated Utility Systems Revenue Bonds - Series 1991A, due in annual *
- installments of $185,000 to $245,000 from October 1,1996, to October 1, 2001, interest ;
rates at 5.4% to 6.3% depending on maturity date. Bonds are payable and secured by lien
. on and pledgo of certain funds provided by Resolution, not revenues of the City's Utility
{ System, and he gross revenues of the City's Stormwater Drainage System. 1,275,000 i
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.- - - _. -- - .-= _ - - - - . .-- ~ . _ _- - - -
i CITY OF TALLAHASSEE, FLORIDA ,
NOTES TO FINANCIAL STATEMENTS September 30,1995 .
NOTE Ill -(Continued)
$47,785,000 Consolidated Utility Systems Revenue Bonds - Series 19918, due in annual !
installments of $1,150,000 to $1,540,000 from October 1,1996, to October 1,2001, interest rates at 5.7% to 6.9% depending on maturity date. Bonds are payable and secured by tien on and pledge of certain funds provided by Resolution, not revenues of the City's Utility System, and the gross revenues of the City's Stormwater Drainage System. 8,020,000
$5,235,000 Airport System Subordinated Revenue Bonds-Series 1994A(Minibond Program) 1 principal due April 1,1999, with a interest rate of 5%. Bonds are payable and secured by lien on the Passenger Facility Charges, in the manner provided by Resolution and by subordinate ,!
lien on the not revenues derived from airport operations. 5,235,000
$12,350,000 Airport Revenue Bonds - Series 1988A, dua in annual installments of
$290,000 to $1,080,000 from Octot'or 1,1996 to October 1,2014, interest rates at 6.65% l to 7.9% depending on maturity date. Bonds are secured and payable from the not revenues of the Airport System (see Note Vil). 11.360.000 1271 714 000 On July 18,1995, the City issued $46,780,000'in Consolidated Utility System Revenue Bonds, Series 1995 bonds with an average interest rate of 5.6 percent. The bonds were issued for the purposes et (1) advance refunding $2,570,000 in principal amount of outstanding Series 1991A Bonds and $34,830,000 in principal amount of outstanding Series 1991B Bonds, maturing 10/01/2002 and thereafter, (2) constructing certain improvements to the City's Gas System, (3) funding a special account for the Series 1995 Bonds in the Senior Lien Reserve Fund and (4) paying certain costs of issuance in connection with the Series 1995 Bonds. The not proceeds of $47.2 million (after deposit of $6.7 million in the City's Gas System for constructing certain improvements, and deposit of S.2 million in debt service / reserve fund) were used to !
purchase U.S. government securities. Those securities were deposited in an irrevocable trust with an escrow agent to l provide for all future debt service payments on the defensed principal of the 1991A and 1991B Series Bonds. As u result, the 1991A and 19918 Series Bonds, maturing on 10/01/2002 and thereafter are considered to be defessed and the ;
liability for those bonds has been removed from the proprietary fund. j The advance refunding resulted in a difference between the reacquisition price and the not carrying amount of the old i debt of $3.6 million. This difference, reported in the accompanying financial statements as a deduction from bonds l payable, is being charged to operations through the year 2001 using the e*fective interest method. The City completed !
the advance refunding to reduce its total debt service payments over the next 20 years by $3 million and to obtain an economic gain (difference between the present values of the old and new debt service payments) of $1.7 million. ;
On February 24, 1994, the City adopted Resolution Number 93-R-0071 authorizing a variable rate loan from the ,
Sunshine State Govemmental Financing Commission in the amount of $24,965,000. The proceeds of the loan were =
placed in an escrow account with a trustee to advance refund $20,605,000 Capital Refunding Bonds - Series 1984, with interest rates of 10.09% to 10.62% depending on maturity date. The escrow account is invested in U.S. Treasury securities that, together with interest thereon, will provide amoynts sufficient for future payments of principal and interest on the refunded bonds. In addition, the loan agreement required establishment of an excess interest account at closing in the amount of $541,000 providing for 52 days of interest at the maximum allowable loan interest rate of 15%. The advance refunding of the Caprtal Refunding Bonds - Series 1984 met the req'uirement of an insubstance debt defeasance and the bonds were removed from the City's General Long Term Debt Account Group.
As a result of the advance refunding, the City reduced its total debt service requirements by $18,731,000 which resulted in an economic gain (difference between the present value of the debt service payments on the old and new debt based on the interest rate at the date of the refunding) of $12,391,000. The maximum loan interest rate of 15% would result in an economic gain of $253,000.
On August 1,1994, the City issued $37,725,000 in Consolidated Utility System Revenue - Bonds Series 1994. The Series 1994 Bonds were issued for the purpose of constructing certain improvements to the City's water, sewer, and gas utility systems.
B-36 l
1
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE 111 -(Continued)
On March 23,1994, the City issued $5,235,000 in Airport Subordinated Revenue Bonds - Series 1994. The Series 1994 Bonds were issued for the purpose of constructing various components designed to improve, upgrade and enhance operational efficiency at the Airport.
- c. Legal Debt Margin - The City of Tallahassee has no general obligation debt outstanding; the amount of general obligation debt the City can issue is limited by City Charter, es outlined below (in thousands):
TAXABLE ASSESSED VALUE. .. .. 3L025,3Q3 Debt Limit 20 Percent of Assessed Value.. . . 1M
- d. Refunded issues - The City defeased certain general revenue, municipal utility revenue, and other bonds by placing the proceeds of new bonds in an irrevocable trust to provide for all future debt service payments on the old bonds.
Accordingly, the trust account assets and the liability for the defessed bonds are not included in the City's financial statements. The following schedule reflects the refunded bonds as of September 30,1995 (in thousands):
Outstanding as of Tvoe Series September 30.1995 General Revenue 1973 $ 10,500
. 1978 34,660
, Special Obligation Bonds 1978A 2,330 -
1981 19,050 Municipal Electric 1972 1,800 1977 57,775
!, Special Obligation Bonds 1977A 10 1982 16,475
- - 29,430 Junior Lien Electric Refunding 1985A Municipal Utility Revenue 1970 1,400
1970A 550 1979 8,670 1982 675 1991A 2,570 19918 34,830 C.apital Bonds 1989 16.120 1984 20.605 125Z 150 l
- e. Loan Payable - On November 18,1986, the City obtained an $18,200,000 loan from the Sunshino State Govemmental Financing Commission, the proceeds of which were used to retire an outstanding Special Assessment note and to finance construction of certain water and sewer projects. During 1991, the City obtained additional loans totaling $4,700,000 from the Sunshine State Govemmental Financing Commission, the proceeds of which were used to fund the purchase of data l processing equipment and to fund the construction of a road project. The rate of interest on the loan varies based upon market i interest rates for short-term tax exempt financing. The loan interest rate at September 30,1995 was 5.43%. The debt service schedule on B-39 was prepared utilizing a six percent (6%) interest rate which is reflective of the average interest rate over the last six years. The outstanding balance at September 30,1995 is $21,700,000.
During 1991 the above loans were transferred to the internal Loan Fund. The Internal Loan Fund charges an interest rate equal to the Sunshine State variable interest rate. These loans are due and payable on July 1,2016.
The loan is non-project specific (as long as designated projects are appropriate under Florida Law and will not cause the loan, if considered as a separate bond issue, to be in violation of applicable IRS guidelines) and non-revenue specific (a covenant to budget and appropriate for non-advalorem revenues exists).
B-37 l
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE Ill-(Continued)
The first loan was allocated as follows: gas fund ($1.743,000, with the primary source of debt service being gas operating revenues); water fund ($7,094,000, with the primary source of debt service being water operating revenues); t sewer fund (58.163,000, with the primary source of debt service being sewer operating revenues). The second loan was ;
allocated as follows: information systems services fund ($2,400,000, with the primary source of debt service being data services revenues generated by user fee charges); and general long term debt ($2,300,000, with the primary source of debt service being revenues generated from special assessments and General Fund revenues).
On February 24,1994, the City of Tallahassee obtained a $24,965,000 loan from the Sunshine State Governmental Financing Commission, the proceeds of which were used to defease the 1984 Capital Refunding Bonds. The rate of interest on the loan varies based upon market interest rates for short-term tax exempt financing. The loan rate at '
September 30,1995 was 5.8%. The debt service schedule on B-39 was prepared using a six and a half percent (6.5%)
i rate which is reflective of the average interest rate over the term of the loan. The principal of be loan is due arid payable on January 1,1999. The note is recorded in the General Long-Term Debt Account Group. 2
- f. Note Payable - During 1989, the City purchased a building and land from the Florida Education Association, Inc. i As part of the financing arrangement, the City executed a note payable to the Florida Education Association, Inc. In the amount of $436,000. The note bears an interest rate of 8% and is payable in ten annual installments of $65,000. The outstanding balance at September 30,1995 is $215,000. The note is recorded in the General Long-Term Debt Account !
Group.
l
+
k t
I 1
B-38
CITY OF TALLAHASSEE, FLORIDA -
NOTES TO FINANCIAL STATEMENTS .
Sep,tember 30,1995 NOTE Ill -(Continued)
- g. Schedule of Debt Service Requirements, including Principal and Ir,terest - All Fund Types
, Proprietary Revenue Bonds fin thousands) ,
General Year Ending Revenue Note and Total Debt September 30 Bonds Electric Gas Sewer W ater Airport Loan Payable Service 1996 $ 2,977 $ 10.613 $ 1,252 $ 4,954 8 943 $ 1,429 $ 3,062 $ 25,230 1997 2,979 12,340 1,462 5.548 1,005 1,429 3,062 ' 27,825 1998 2,147 10,614 1,462 5.546 1,004 1,427 3,062 25,262
'? 26,810 54,068 0 1999 2,145 10,616 1,427 5,429 978 6,663 2000 2,149 10,616 1,426 5,423 977 1,165 1,374 23,130 2001 2,148 10,614 1,426 5,427 979 1,167 1,374 23,135 2002 2,145 12,320 1,690 5,241 895 1,167 1,374 24,832 2003 2,147 10,616 1,689 5,240 899 1,163 1,374 23,128 2004 2,146 10,615 1,689 5,2 6 899 1,167 1,374 23.130 2005 2,146 10,614 1,691 5,244 899 1,168 1,374 23.136 2006 2,145 10,614 1,691 5,244 900 1,165 1,374 23,t *,3 2007 2,145 10,618 1,690 5,241 899 1,164 1,374 23.131 2008 2,145 8,616 1,690 5,241 899 1,165 1.374 21.130 2009 2,024 8,616 1,689 5,239 899 1,167 1,374 21,008 2010-2019 6.765 25A48 12.699 38.420 5.976 5.827 27.181 122.716 Totals 38,353 173,890 34,673 112,677 19,051 28,433 76,917 483,994 Less: Interest 12.538 63.071 15.678 48.977 7.946 11.838 30.037 190.085 Principal 125 815 1110 819 118.925 162.Z00 111.105 1.Hi.525 14G.880 12SL902
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE 111 -(Continued)
- 6. ACCRUED LEAVE The current and long-term portions of accrued leave by fund consists of the following at September 30,1995 (in j thousands):
Accrued Accrued Accrued Leave Vacation Sick Leave Total Short-Term Portion Enterprise Funds:
Electric., . .. . $ 1,177 $ 1.561 8 2,738 5 1,202 Gas .. . 137 134 271 133 Sewer.. . . 429 463 892 465
, W ater.. .. 169 193 362 185 i Airport.. . 121 223 344 126 Tallahassee Transit . 216 157 373 241 Solid Weste.. 222 316 538 222 Golf Course.. . 45 30 75 42 Internal Service Funds . . 868 972 1,840 889 General Long-Term Debt Account Group.. . 3.472 4.408 7.880 1921 Total.. . . . . Eggg ag&I 111,111 1Z 293 The accrued leave for govemmental funds has been reported in the General Long-Term Debt Account Group because this liability will be liquidated with future financial resources.
- 7. LEASE COMMITMENTS Operating - The City has entered into several operating feases for equipment. The operating lease obligations are
, $137,000 and $14,000 for fiscal years 1996 and 1997, respectively. There are no noncancelable lease obligations due after 1995. Total rent expense incurred by the City for the year ended September 30,1995, was $612,000.
- 8. SELF-INSURANCE PROGRAM The Self-insurance Program provides coverage against workers' compensation claims (up to the first $500,000 per occurrence), general liability and automobile liability. For general liability and automobile liability statutcry limitations are
$100,000 individual, $200,000 aggregate per occurrence. The City has obtained "stop-loss" insurance which covers all workers' compensation claims exceeding $500,000, subject to an aggregate policy limit of $10,000,000. The Risk Management Fund is responsible for collecting premiums from insured funds, paying claims settlements and purchasing j certain insurance policies. Claims settlements and loss expenses are accrued for the estimated settlement value of reported and unreported claims. At September 30,1995, the City recorded a liability of $7,700,000 for claims, which is a
$207.000 decrease from $7,907.000 which was recorded at September 30, 1994. The $207,000 decrease represents expenses of $2,646,000 less payments of $2,853,000. t Employee health insurance is provided through two programs. Employees may choose a health maintenance organization foe which a premium is paid and the City retains no additional liability or employees may choose a traditional insurance program under which the City is self-insured. Under the traditional program, the City has obtained "stop-loss" insurance which covers losses in excess of $150,000 per covered individual with a $1,000,000 lifetime limit. Blue Cross Blue Shield of Florida, the contractual service agent for the self-insurance program, collects premiums from the City, pays benefits and provides the City with e.n acccunting of its operations on a quarterly basis. The City accounts for its self-insurance program through the Employee Healthcare Fund which is classified as an Intemal Service fund. At September 30, 1995, the City recorded an actuarially determined liability of $281,000 reflecting an amount for reported and ;
unreported claims incurred.
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CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE Ill-(Continued)
C. INTERFUND RECEIVABLES AND PAYABLES At September 30,1995, Interfund Receivables and Payables are as follows (in thousands):
1 Fund Due From Due To Advance To Advance From Loan To Loan From General . .. . $ 94 $ 52 $ 939 $ -
Capital improvements.. - - 775 - - -
1 Airport . - 73 - 1,155 - 3,375 l . .
l Gas. . . .
- - - - - 1,473 l Sewer.. - - - - - 5,305 l l W ater. . .
5.203 Tallahassee Transit . - 4 - 603 - -
Reading. Billing and Collection 57 - - - - -
information Systems Services - - - - - 831 Inteinal Loan . _ . - - - - 17,857 -
Deficiencies and Emergencies 458 - 44 - - -
Railroad.. :- 22 - - - -
Central Stores.. .. - 458 - - - -
General Long-term Debt Account Group . .
- - - - - 1.670
- 1. da2 1-.fa2 1.1.Z11 1.1.Z11 11Z.111 111.111 D. FUND EQUITY
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- 1. CHANGES IN CONTRIBUTED CAPITAL:
- a. Enterprise Funds - The following changes occurred in contributed capital of the Enterprise Funds during the year ended September 30,1995 (in thousands):
Tallahassee j Electric Sewer Airoort Transit Others Total Beginning Balance as of October 1,1994.. .. .$ 2.126 $ 17.873 $ 36 782 S 13.829 5 2.222 5 72 909 Additions:
Capital Grants - - 1,949 101 -
2.050 Passenger Facility Charge.. - - 1,332 - - 1,332 Transfer from Other Funds. - 44 - - 1 45 Total Additions. - 44 3.281 101 1 3.427 l
1 Deductions:
Depreciation on Contributed Assets. -
(649) (1,348) (253) - (2,250)
Residual Equity Transfer Out.. - - - (5.040) - (5.040)
Total Deductions. - (649) (1 348) (5.293) - (7 290)
Ending Balance as of September 30,1995.. 1 ? 128 s 17?es s 38715 s e 637 s ? 300 s so 048 B-41
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE Ill-(Continued)
- b. Internal Service Funds - The following changes occurred in contributed capital of the internal Servies Funds during the year ended September 30,1995 (in thousands):
Information Risk Systems Manage- Communi-Services _Q3.ra2R - ment cation Others M Beginning Balance as of October 1,1994.. S - S 7.464 3 894 5 130 5 -
$ 8.488 Additions:
Residual Equity Transfers.. 753 11.166 - - 76 11,995 Total Additions . 753 11.166 - -
76 11,995 Deductions:-
Depreciation on Contributed Assets. (49) (1.7741 - - (7) (1.830)
Total Deductions . (49) (1 774) - - (7) (1.830) i Ending Balance as of September 30,1995.. . S 70c m m s 130 s so g
- 2. CHANGES IN RESERVED RETAINED EARNINGS - ENTERPRISE FUNDS For purposes of this presentation, the Tallahassee Transit Fund, Airport Fund, Solid Waste Fund and Golf Course Fund have been combined as Others. As of September 30, 1995, the Reserved Retained Eamings for the Tallahassee Transit Fund, Airport Fund, Solid Waste Fund, and Golf Course Fund, were $289,000, $5,086,000,
$1,742,000, and $366,000, respectively. The following changes occurred in reserved retained earnings of the enterprise funds during the year ended Septe,mber 30,1995 (in thousands):
Total Enterprise Electric Gas Sewer Water Others Funds Reserved Retained Earnings:
Revenue Bond Reserve.. $ 11,923 $ 1,050 $ 5,940 $ - $ 1,168 $ 20,081 l
Revenue Bonds Renewal and Replacement.. 30,475 475 5,870 7,779 1,700 46,299 Operating Reserve. .. 21,569 - - - 1,046 22,615 System Charges.. - - 5,234 4,558 791 10,581 ,
Other . 12.439 674 1.078 1.630 930 16.751 Total - October 1,1994.. 76.406 2.199 18.122 13 965 5.635 116.327 Add:
Income Earned on Restricted Assets . 2,078 189 4,059 233 71 6,630 Debt Service Funding. 11,109 868 8,478 287 - 20,742 Renewal and Replacement Funding.. 20,617 1,532 - 4,608 - 26,757 increase in Other Reserve., 3,124 - - - 650 3,774 Bond Proceeds.... - 389 2,183 - - 2,572 Other . 727 8 653 - 1,691 3,079 Deduct Interest and Fiscal Charges. (6,495) (752) (3,735) (159) - (11,141)
Payment of Bond Pnneipal. (4,304) (74) (3,270) (150) - (7,798)
Transfer to Other Funds . -
(6) (2,124) (676) (2) (2,808)
Transfer of Fixed Assets and Expenses.. (16.137) (1 306) (5 235) (3 631) (562) (26.871)
Net increase in Reserved Retained Earnings. 10.719 848 1.009 512 1.848 14.936 s 87 125 m m M 1J,,dn s131?63 B-42 4
CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE Ill-(Continued)
Total Enterprise Electric Gas Sewer W ater Others Funds Reserved Retained Eamings:
Revenue Bond Reserve.. . $ 12,466 5 1,464 8 5,941 5 - 5 1,168 8 21,039 Revenue Bonds Renewal and Replacement.... . . 39.854 977 7,595 8,878 1,599 58,903 Operating Reserve.. .. . 19,508 - - - 1,742 21,250 System Charges.. ... .- .
4,453 4,091 - 8,544 Other . .. . .. . . . . . . . . 15 297 __,921 __1R ,_1,1Qt . 2.974 - 21 527 Tctal- "
September 30.1995. .. . 1.BL121 N; 111.,121 11dJII 1Z.4Aa 1131 23 The following is a description of each reserve:
Revenue Bond Reserve:
Established in conjunction with the issuance of Revenue Bonds and fully funded by initial deposits from the proceeds of such revenue bonds. The reserve is to be maintained, in Ln amount equal to the maximum debt service due in any ensuing fiscal year, as long as the bonds are outstanding.
Revenue Bonds Renewal and Replacement Established in conjunction with the issuance of revenue bonds and funded by transfers from the revenue accounts of the appropriate enterprise funds. The use of money is restricted to funding the cost of extensions, enlargements or additions to. or replacement of, or emergency repair of, capital assets.
Operating Reserve:
Established in conjunction with the issuance of revenue bonds and funded thy transfers from the revenue accounts of the appropriate enterprise funds. The use of the money is restricted to the payment of cost of operation and maintenance if revenues are insufficient for such purpose.
System Charges:
This reserve is funded through the collection of water and sewer system pharges. The use of money is restricted to
- l, extensions and expansions of the City's water and sewer systems.
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Other reserves have been established by Commission action for specified purposes.
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CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE 111 -(Continued)
- 3. RESERVED FUND BALANCES AND RETAINED EARNINGS:
- a. Governmental and Expendable Trust Funds - Reserved fund balances indicate those portions of fund balances that are legally segregated for a specific use or not available for appropriation or expenditure. The nature of these reserves are as follows (in thousands):
September 30 1995 1994 General Fund - Reserved fot inventory.. . . . . . . $ 10 $ 6 Advance to Other Fur:ds.. , . 939 408 Note Receivable.. . . . . . 9 12 ,'
Encumbrances .. } .. 2.765 1.953 Total General Fund.. . . 3.723 2.379 Special Revenue Funds - Reserved fot Encumbrances.. . .. . 4.929 2.618 Projects.. 13,727 9,727 Notes Receivable. .. . 272 345 Total Special Revenue Funos.. . . 18.928 12.690 Debt Service Fund - Reserved fot Current Debt Service.. . . .
- 10 Future Debt Service.. . . . . 28.889 28 923 Total Debt Service Fund.. . . 28.889 28.933 Caprtal Projects Funds - Reserved fon Encumbrances.. .... 16,307 22,801 ,
Projects.. . . ... 77,987 56,531 Advance to Other Funds.. . .. . 775 837 Total Capital Projects Funds. . . . 95.069 80.169 Expendable Trust Funds - Reserved foc Advance to Other Funds.. 44 44 Fixed Assets.. . 1.412 1.378 Total Expendable Trust Funds.. 1.456 1.422 Total . 1 14R065 1 175 501
- b. Intemal Service Funds - Reserved retained eamings are restricted to indicate funds obligated as follows (in thousands):
September 30
, 1995 1994 Reserved foc Debt Service.. . . $ 838 $ 742 Fleet Management.. 28,657 29,350 Projects.. . . 1,695 1,784 Insurance. 5.528 4.030 Total . S 26718 s ~*5 408 O
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1 CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 i
NOTE Ill-(Continued)
- c. Pension Trust Fund - Fund Balance is reserved through Chapter 17 of the City Code of Ordinance and requires fund j equity to be restricted for future benefits to members of the pent, ion plans as follows (in thousands):
1995 1994 General Employms - Article 11.. . . $214,027 $202,042 Police Officers - Article lit . 49,043 45,593 I Firefighters - Article IV.. ... . 42,242 40,306 General Defined Contribution - Article V.. . . 53.783 42.365 Total.. . .. 1312.221 12EL20$
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- 4. DESIGNATED FUND BAl.ANCE The City has established a designation of fund balance within the Deficiencies and Emergencies Fund (an Expendable Trust Fund type) of $954,000 to provide for unappropriated expenditures in nearby annexed areas of the City. The nature of these
,; expenditures include, but are not limited to, police and fire protection, street lights, sidewalks and street paving, e
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CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE IV - FINANCIAL SEGMENT INFORMATION OF ENTERPRISE FUNDS The Cay maintair.s eight Enterprise Funds which provide electric, gas, sewer, water, arport, mass transportahon, solid waste collechon, and golf course operaten services Segment infortnation for the year ended September 30,1995, was as follows (irt thousands): ,
Total Electric Gas Sewer Water Airport TaBahassee Solid Weste Golf Course Enterpnse Fund Fund Fund Fund Fund Transit Fund Fund Fund Funds Operatang Reverw- $ 184,419 $ 12,392 $ 23,530 $ 17,635 $ 6,623 $ 2,035 $ 14,456 $ 934 $ 262.024 Grant Reveru_= $ - $ - $ - $ - $ - $ 1,824 $ - $ - $ 1,824 Depreciaton and Amortization Expense. $ 13,403 $ 587 $ 3,707 $ 1,779 $ 2,012 $ 379 $ 75 $ 105 $ 22,047 Operating income (Loss). $ 39.910 $ 3,295 $ 2,333 $ 4,135 $ (144) $ ( 5,976) $ 906 $ (569) $ 43,890 a3 Operating Transfers:
4.015 $ - $ 502 $ 4,743 g In 5 208 $ 11 $ 4 $ 3 $ - $
Ota 5 ( 39,150) $ ( 2,565) $ ( 945) $ ( 2,895) $ ( 6) $ ( 48) $ ( 9) $ (2) $ ( 45.620)
$ 4.874 $ 63 $ 4.976 $ 3,096 $ ( 1,316) $ (268) $ 1,009 $ ( 46) $ 12,388 Net tncome (Loss)_
Current Captial Contnbutions $ - $ - $ 44 $ - $ 3,281 $ 101 $ 1 $ - $ 3,427 Restncted Assets. $ 103.643 $ 9,096 $ 33,318 $ 16,723 $ 10,405 $ - $ 1,830 $ 368 $ 175,383 i
Fixed Assets:
Addnions 5 19,787 $ 1,236 $ 7,660 $ 5,041 $ 1,097 $ 7 $ 7 $ 69 $ 34.904 37 $ - $ 26 $ 18 $ - $ - $ - $ 14 5 95 Dr'- $
Net Worldng Capital $ 9 480 $ 487 $ 2.441 $ 1,281 8 721 $ 1,971 $ 800 $ 122 $ 17,303
$ 406,312 $ 37,097_ $ 173,992 $ 76,061 $ 71,477 $. 12,180 $ 4,110 $ 2,470 $ 783,679 Total Assets Bonds and Other Long-term Liabihbes Payable from 111,247 $ 21,007 $ 67,651 $ 16,880 $ 21,164 $ 735 $ 316 $ 33 $ 239,013 Operating Rever== $
Total Fund Equay $ 268,919 $ 15,047 $ 103,547 $ 57,580 $ 48,789 $ 11,047 $ 2,965 $ 2,365 5 510,259
CITY OF TALLAHASSEE, FLORIDA
. NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE V - RELATED PARTIES A. JOINTLY OWNED ELECTRIC UTILITY PLANT in November 1975, the cities of Tallahassee (1.3333%), Alachus (0.0779%), Bushnell (0.0388%), Gainesville (1.4079%),
Kissimmee (0.6754%), Leesburg (0.8244%), Ocala (1.3333%), and Utilities Commissions from New Smyrna Beach (0.5608%), Orlando (1.6015%), Sebring (0.4473%), and Seminole Electric Corporation (1.6994%), through a participation agreement with Florida Power Corporation, a corporation organized and existing under the laws of the State of Florida, purchased a 10% undivided ownership interest, as tenants in common, in the Crystal River Unit 3 (CR3) nuclear power t; ant operated and managed by Florida Power Corporation. In accordance with the agreement, the City participates in the cost and the power output of CR3 based on its respective interest; however, the City has no legal authonty over the operations of the plant. CR3 revenue and operating maintenance costs, which represents the Electric Utility's share of all revenue and expenses attributable to operation of CR3, are property recorded in accordance with the instructions as set forth in the Uniform System of Accounts. Payments are made to Florida Power Corporation in accordance with the CR3 participation agreement. ,
Condensed financial information is not available relating to the power plant.
The City has established a liability of $3,680,000 in the Electric Fund to recognize its share of costs associated with decommissioning the nuclear power plant. The plant's decommissioning is anticipated to begin in 2008. l B. SUNSHINE STATE GOVERNMENTAL FINANCING COMMISSION in November 1985, the Cities of Tallahassee and Orlando, Florida, through an interlocal agreement, created the Sunshine State Govemmental Financing Commission (the Commission) which was developed as a pooled financing vehicle to allow for I e limited number of high quality Florida local govemmental units (cities and counties) to join together in a variable rate financing program. On July 16,1986, the Commission issued $300,000,000 in Variable Rate Long-Term Bonds supported by a letter of crodrt from three major Japanese banking instrtutions.
The proceeds of the bonds are being used to provide loans to selected govemmental units, acceptable to the banks, which have an A (or better) credit rating. Individual loans may be for a term of up to 30 years, with or without principal amortizabon, Each participant's loan will bear intorest at an effective blended rate and the participant is responsible for paying interest and, in some cases, principal by the 15th cf each month for the preceding month.
According to the interlocal agreement, each participating governmental unit appoints a representative to the Commission.
Tnese representatives elect.a Board of Directors which is responsible for the administration of the program. As of September l
30,1995, the Board consisted of five members representing the City of Tallahassee, the City of Orlando, the City of Vero l
Beach, the City of Lakeland, and Dade County.
The City of Tallahassee has no obligation or risk associated with the Commission other than the repayment of its loan from
- . the Commission (See Note Ill.B.S.e). Condensed financialinformation relating to the Commission as of September 30,1995, is as follows (in thousands)
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Total Assets.. $ 403,221 Total Operating Revenue.. $ 14,989 Total Liabilities .. $ 403.221 Total Operating Expense . $ 17,916 Total Retained Earnings.. . 3 - Operating Lose.. $ 2,927 Non-Operating income , $ 2.927 i Not income . $ - j 1
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CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL. STATEMENTS September 30,1995 NOTE V -(Continued)
C. CO-TENANCY WITH LEON COUNTY RESEARCH AND DEVELOPMENT AUTHORITY During 1988 and 1989, the City and Leon County Research & Development Authority entered into certain agreements for the purpose of constructing and holding a building situated on 9.16 acres of land located in innovation Park, Tallahassee, Florida. The building was completed in 1989 at a cost of $2.800,000. During 1988, the land and building were leased to Tadiran Ltd. for en initial period of 15 years. The lease terms require annual rental of $1.00 during years 1 through 7 and i $1.00 during years 8 through 10 provided that certain minimum employment levels are achieved. During years 11 I through 15, the annual rental shall be the fair market lease value with adjustments if the tenant exceeds certain !
employment levels. The lease requires the Tenant to pay all utilities and expenses associated with maintaining and 1 operating the facility. The lease is considered an operating lease and accordingy revenues are recognized when due over the term of the lease.
. I The interest of the City and Authonty in the Co-Tenancy is 60% and 40% respectively. The City and Authority agreed l that they acquired their respective interest in the building as a separate and distinct ownership and do not intend by the Agreement to form or create a partnership, joint venture, organization or association of any kind. Each Tenant in Common is the direct owner of its respective interest in the building, each owning its undivided interest separate and apart from the undivided interest of the other.
In the event that funds of the Co-Tenancy are insufficient to pay operating expenses or any other expenses, then the Tenants in Common shall centnbute the necessary funds for such purposes in proportion to their respective interest. To the extent that either Tenant in Common does not contribute cash, the other Tenant in Common may lend money to the i
Co-Tenancy for such purpose. Such loan shall bear interest and have a prionty claim on cash available for distribution.
To the extent cash flow is available after considering a reserve for capital improvements and working capital, a distribution will be made to the City and Authonty in proportion to their respective interest. However, distributions will not be made until the Co-Tenancy begins receiving fair market lease value payments under the ground and building lease.
Condensed financial information relating to the Co-Tenancy as of September 30,1995 is as follows (in thousands): ;
Total Assets.. $2,369 Total Operating Revenue... .. . $ -
Total Liabihties . $ - Total Operating Expense . . $ -
Total Fund Equity. $2,369 Operating income., . $ -
Non-Operating income . . . $ -
. Depreciation Expense . $ 70 Not Loss.. . . .. S 70 D. RAILROAD FUND INTERLOCAL AGREEMENT WITH LEON COUNTY in September 1992, the City entered into an interlocal agreement with Leon County concoming the application for funding, acquisition, construction, operation and maintenance responsibilities for the new railroad station site. The City received grant funding from the Department of Transportation, State of Florida, through a " Joint Participation Agreement",
as amended in the amount of $960,000 during the 1992-95 fiscal years.
The City has the responsibility of obtaining and administering all contracts required for construction, remodeling, and all future operation and maintenance. The City has contracted for the provision of all necessary liability and property .
damage insurance, with a minimum per occurrence limit of $5,000,000 for general liability insurance and full replacement coverage for property damage. Further, the City provides all necessary staffing, managerial, operational and accounting functions for the railroad station site. To satisfy its fiduciary responsibility, the City records the railroad operations in an Expendable Trust Fund.
According to the interlocal agreement, the City and County shall share equally in the financial respcnsibility for the acquisition, renovation, operation and maintenance of the railroad station srte. The City of Tallahassee and Leon County have made contributions for funding the necessary construction and remodeling of the railroad station site. The City's equity investment in this joint venture is accounted for in the General Fixed Assets account group. Excess revenues over expenditures will be shared equally and deficits funded on a 50/50 basis by the City and Leon County at the end of each fiscal year.
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l CITY OF TALLAHASSEE, FLORIDA i
l NOTES TO FINANCIAL STATEMENTS j
! September 30,1995 ;
1 NOTE VI- CONTINGENCIES j A. LITIGATION The City is involved in pending lawsuits. The City Attorney estimates that the potential claims against the City not covered by insurance resulting from litigation would not matenstly affect the financial position of the City.
B. FEDERAL AND STATE GRANTS
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The City participates in a number of federal and state assisted programs, principal of which are the Federal Transit Administration, Community Development Block Grant, Federal Emergency Management Agency, Federal Aviation Administration, and certain other State of Florida programs. These programs are subject to the financial and compliance audits made in accordance with the Office of Management and Budget Circular A-128. The audits of these programs for and including the year ended September 30,1995 will be issued under separate report. The amount, if any, of expenditures which may be disallowed by the granting agencies is immaterial to the City's Combined Financial Statements.
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CITY OF TALLAHASSEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30,1995 NOTE Vil- SUBSEQUENT EVENTS ISSUANCE OF AIRPORT SYSTEM REVENUE REFUNDING BONDS SERIES 1995 On December 5,1995, the City issued $11,995,000 in Airport System Revenue Refunding Bonds, Series 1995 for the purposes of (a) refunding the City's outstanding Airport System Revenue Bonds, Series 1988A, (b) funding a special account in the Reserve Fund created for the benefit of the Series 1995 Bonds and (c) paying certain costs of issuance of the Series 1995 Bonds.
The Series 1995 Bonds were issued pursuant to the authority contained in Chapter 166, Part II, Florida Statues, and pursuant to a resolution adopted by the City on August 19,1987, as restated and amended in its entirety by Resolution No. 86-R-006 adopted by the City on February 24,1988 as amended by a resolution adopted by the City on October 25, 1995.
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x COMBINING AND INDIVIDUAL FUND 1
!. AND ACCOUNT GROUP-STATEMENTS AND SCHEDULES i
These financial statements provide a more detailed view of the " General Purpose Financial Statements" presented in the preceding sections.
s Combining statements are presented when there are more than one fund of a given fund type.
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GOVERNMENTAL FUNDS l1 GENFRAL FUND
, SPECIAL REVENUE FUNDS DEBT SERVICE FUND CAPITAL PROJECTS FUNDS l
s l < GENERAL FUND I The General Fund accounts for all financial resources not properly accounted for in another fund.
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CITY OF TALLAHASSEE, FLORIDA GEW'9AL FUND BAL40i E SHEET (in .housands)
September 30 1995 _
1994 ASSETS l Cash and Cash Equivalents.. $ 8,399 8 5,124 Receivables:
Accrued interest... 69 44 Customers.. 860 671 Accounts.. . 1.640 1.408 Note.. 9 12 Property Taxes-Delinquent... . .. 114 80 Less: AAowance for Doubtful Accounts.. (185) (150)
Due frorn Other Funds.- . 94 86 Advance to Other Funds.- 939 438
, inventory - 10 6 Total Assets ._ - _._ _ 5 11.969 5 7.689 9
LIABILITIES AND FUND BALANCE Liabilities: .
Accounts Payable.. 5 1,670 3 1,665 Due to Other Funds.. . 52 52 Deferred Revenue.. 1.179 382
, Total Liabilities - . __ 2.907 2.099 Fund Balance:
Reserved for-Inventory.. 10 6 Advance to Other Funds.. 939 408 Note Receivable.. ., 9 12 1 l
Encumbrances., , 2.765 1.953 Total Reserved - . - 3,723 2,379 Unreserved /Undesignated.. ,
5.339 3.211 Total Fund Balance 9.062 5.590 Total Llablittles and Fund Balance 5 11.969 5 7.689 i
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CITY OF TALLAHASSEE, FLORIDA GENERALFUND SCHEDULE OF REVENUE (in thousands)
Fiscal Yrer Ended September 30 1995 1994 Actual Actual on Vanance- on Budgetary Favorable Budgetary Budget Bass (Unfavorable) Basis Taxes:
Ad Valorem . 5 11,528 $ 11,636 5 108 5 10,906 Public Service Taxes:
Electricity.. 8,389 8.352 (37) 7,199 Telecommunicanons . 3,623 3,735 112 3,540 W ater.. 1,037 1,039 2 991 Gas.. 700 674 (26) 698 Propane., 180 159 (21) 180 Fuel Oil.. 40 32 (8) 39 Frenchse Fees:
Telephone.. 946 910 (36) 905 Cable Television.. 826 885 59 803 TotalTaxes _ 27.269 27,422 153 25,261 Licenses and Permits: ;
Occupanonal 1,100 325 (775) 1,083 Buadeg Permrts.. 920 1,036 118 972 Other.. 583 731 148 614 Total Licenses and Permits. 2.603 2.092 (511) 2,669 Intergovernmental Revenue:
Federal Grants:
Economic Envronment... 523 236 (287) 516 Transportation.. 460 301 (159) 159 State:
State Grants .. 20 46 26 30 l Shared Rrn.nuea: l Local Govemment 1/2 Cent l Sales Tax . 6,092 6,265 173 5,696 l Two-Cent Cigarette Tax.. . . , 279 267 (12) 287 Revenue Shanng.. 3,200 3,306 106 3,188 ,
Mobile Home Licenses.. 44 36 (8) 35 i 85 80 (5) 83 Alcohole BeveraDe License..
Pubbe Safety Firefighters' Supplemental Compensaton. 26 34 8 21 County.
City Share of County Occupational .
106 123 17 113 Lcenses.-
- - 1 Payments-in-Lieu-of-Taxes.. . -
Totallntergovemmental Revenue 10.835 10 694 (141) 10.129 l
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l CITY OF TALLAHASSEE, FLORIDA GENERAL FUND j SCHEDULE OF REVENUE l (in thousands) j (Continued)
Fiscal Year Ended September 30 1995 1994 l Actual Actual l on Variance- on
{ Budgetary Favorable Budgetary l
Budget Basis (Unfavorable) Basis I Charges for Services:
General Government Charges:
Zorung Fees.-. I 147 5 147 5 -
5 144 l County for Pfarrung Dept 886 943 57 778 Cost Allocanon... 3,708 4,700 992 4,918 Sa6e of CNy Code Books.. .. . . . 4 4 -
1 Public Safety Charges:
Police Services - 57 52 (5) 64 County for Fire Protecton... 2.255 2,272 17 2,206 Physcal Environment Charges:
Lot Mowing and Cleanng.. 9 2 (7) 9 Envronmental Analysis.. . 29 33 4 33 Concurrency Fees. 49 60 11 48 Transportanon Charges:
Parking Facility.. 659 659 - 674 Traf5c Signal Maintenance.. .. 40 47 7 51 Partang Meter Receipts.. 332 336 4 324 Right.of.Way Mantenance... 295 302 7- 295 Human Servces Charges:
Animal Shelter Fees.. 96 98 2 52 Parks and Recreaton:
Program Actuty Fees.. . .- 944 897 (47) 740 Swimming Pools.. 125 123 (2) 124 Other.-. 36 53 17 43 County for Parks and Recreaton. 1,264 1,264 - 1,059 i Total Charges for Services 10.935 11,99" 1,057 11,563 '
l Fines and' Forfeitures:
Traf5c Fines -- 872 908 36 817
, Parking Violabons.. 572 597 25 555 Police Educabon.. - - - 15 Total Fines and Forfeitures. 1.444 1.505 61 1,387 Miscellaneous Revenuss:
Interest..- 232 311 . 79 326 Rents and Royotbes.. 166 141 (25) 205 Sales:
Cemetery Lots . 168 99 (69) 171 Surplus Traf5c Matenais.. - 205 205 -
l Other.. 1.211 777 (434) 738 Total Miscellaneous Revenue.. 1,777 1.533 (244) 1,440 l Total Revenue. 5 54.863 5 55.238 5 375 5 52,449 C.3
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CITY OF TALLAHASSEE, FLORIDA l I
4 GENERAL FUND SCHEDULE OF EXPENDITURES j (in thousands)
Focal Year Ended September 30 1995 1994 Actual on Vanance-Budgetary Favorable l Budget Bass (Unfavorable) Actual Actual l General Govemment:
Legolatr.e CMy Commis@n 367 6 $ 367 5 347 f
l Persanad Services.. .. $ 373 $ 8 Other Opereg. 110 102 8 102 77 i Capdal Oudny..... . . - - - - 10 l Total Legiair4tive. 483 469 to 469 434, [
Execu b Cay Manager Personal Senaces 651 651 - 651 699 Other Operanng.. .. 258 255 3 231 189 ;
Capital Outlay... . . - . .
- - - - 3 l 909 906 3 ^882 891 !
Commurwty Reianons .
Personal Senaces.. . 230 233 (3) 234 207 i Other Operanng. ?0 28 2 27 12 [
260 261 *
.(1) 261 219 Total Executive.- 1.169 1.167 2 1,143 1,110 !
l Financed and Adminstrative Treasurer-Clerk ;
Personal Ser. ices.. . 547 546 1 547 477 Other Opermang._ . 220 247 (27) 232 194 ;
9 !
Captal Outlay.. .. 13 13 - -
780 806 (26) 788 671 Management and Budget Personal Sonnees.. 658 654 4 654 625 other Operanng. 178 173 5 168 282 Caprtal Outlay __ 9 8 1 3 3 845 835 10 825 910 e 3
Records Management .
Personal Services.. 395 375 20 375 370 Other Operanng.. 206 167 . 39 156 232 ,
Caprtal Outlay.. ..
- 53 (53) 52 2 ;
601, 595 6 583 604 t
Real Estate r Personal Sennees... 291 284 7 284 284 !
Ott gr Operanng.. . 586 572 14 568 349 877 856 21 852 633 i
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1 CITY OF TALLAHASSEE, FLORIDA .
GENERAL FUND l
SCHEDULE OF EXPENDITURES l l (in thousands)
(Continued)
Fiscal Year Ended September 30 i
i 1995 1994 Actual on Vanarv e-Budgetary FavorLNe ,
- l. '
I Budget Basis (Unfavorabier Actual Actual General Services i
Personal Services 5 188 5 200 5 ( 12) 5 200 5 219 l, Other Operaeng... . 246 242 4 242 190 ;
434 442 (8) 442 409 i P
l Intemal Audit Personal Services 384 377 7 377 359
' Other Operaeng.- 63 62 1 63 46 Capital Ouesy 9 8 1 - -
l 456 447 9 440 405 y ,
L q Total Financial and
- Administrative 3.993 3.981 12 3,930 3.632 1
Legal Personal Servces.. 944 940 4 939 786 j Other Operaeng.. 624 621 3 588 477 Capstal Outlay 5 4 1 4 4 Total Lega8 . 1.573 1.565 8 1,531 1,267 Planning Comprehensive Planning ,
Personal Senaces- 1,805 1,783 22 1,783 1,763 !
Other Operanng._ 564 531 33 512 389 Capital Outlay 24 19 5 14 -
2.393 2.333 60 2,309 2.152 -
Growth Management Personal Sennees.. 599 593 6 593 563 Other Operating.. 455 449 6 440 312 1.054 1,042 12 1,033 875 Total Planning _ 3,447 3,375 72 3.342 3,027
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l CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES (in thousands) ,
I (Continued)
Fiscal Year Ended September 30 1995 1994 Actual on Vanance-Budgetary Favor,able Budget ' Basis (Unfavorable) Actual Actual ,
Other General Govemment )
Public Works Admrustrabon !
Personal Services 5 391 8 362 8 9 8 382 8 337 Other Operaung 1.600 1,575 25 1,574 1,454 Capital Ouday 4 3 1 7 -
1.995 1,960 35 1.963 1,791 i I
Non-Departmental Other Operanng.. . 920 947 (27) 936 746 )
920 947 (27) 938 746 I Code Enforcement Board Personal Services.. -. 71 71 - 71 67 i Other Operatng., 17 , 16 1 16 9 88 87 1 87 76 l City Hau Mantenance
- Personal Services.. . . 422 424 (2) 424 364 :
Other Operahng.. .. 666 637 29 619 616 Capital Ouday - 55 50 5 3 3 ,
1.143 1,111 32 1.046 1.003 Cable Commumcabons Personal Services.. . . . 128 126 2 126 87 Other Operahng. 50 50 - 76 67 Captal Outlay.. 7 5 2 1 2 i 185 181 4 203 156 Intergovemmental Relatons Personal Services.. 236 230 6 230 219 ;
Other Operating.- 105 97 8 93 67 ;
Capital Outlay.. . .. 13 13 - 3 5 l 354 340 14 326 291 i
Total Other General Govemmerd . 4.685 4.626 59 4.563 4.063 3 Total General Govemment 15.350 15.183 167 14 978 13.533 i
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i CITY OF TALLAHASSEE, FLORIDA i GENE.*AL FUNO i SCHEDULE OF EXPENDITURES ;
(in thousands)
(Continued) 7 Fiscal Year Ended September 30 t 1995 1994 Actual on Vanance-Budgetary Favorable ,
Budget Base (Unfavorable) Actual Actual !
' Public Safety: }
Law Enforcement Personal Services.. 5 19,456 5 18,944 5 512 5 18,943 5 17,778 Other Operatog . 5,388 5,186 202 4,840 4,482 ;
Capdal Ouday 242 239 3 193 127 j Total Law Enforcement. 25.086 24,369 717 23.976 22,387 L Fire Control
' 9,915 9,585 9,585 9,304 Personal Services - 330 :
Other Operstmg. 2,794 2,564 230 2,602 2.358 l Cap 4ai Ougay 176 158 18 63 37
, Total Fire Control _ 12.885 12,307 578 12.250 11.699 ,
t Protective inspechon Building inspecten Personal Senaces.. - 1,123 1,112 11 1,112 1,043 Other Operstmg. 137 121 16 125 120
( Capital Ougay.-. 3 3 - 3 3 1,263 1,236 27 1.240 1.166
, Code Enforcement i Personal Services._ 361 369 (8) 369 333 t Other Operstmg.. . 96 70' 26 53 39 457 439 18 422 372 i Total Protective inspection._ 1,720 1.675 45 1,662 1,538
,{ Total Pub 8c Safety. 39.691 38.351 1.340 37,888 35.624 Transportation:
Road and Street Fachbes
- Street Lightmg
- Personal Services.. 144 146 (2) 146 118
. Other Operstmg - 1,174 951 223 951 987
! 1.318 1.097 221 1,097 1,105 l'
Right-Of-Ways ll Personal Services., 1,531 1,447 84 1,447 1,424 375 l, Other Operateg.. 408 345 6,3 340 Caprtal Outlay.. 23 21 2 15 10 1.962 1,813 149 1.802 1,809 i 1
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CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES (in thousands)
(Contlaued)
Fiscal Year Ended September 30 1995 1904 Actual on Vanance-Budgetary Favorable Budget Basis (Unfavorable) Actual Actual Streets Personal Services : $ 2,422 $ 2,230 $ 192 8 2,230 $ 2,163 i Other Operating.-- 1,298 1,314 (16) 1,296 1,324 Capital Outlay . 16 14 2 14 39 i 3.736 3.558 178 3.540 3.526 TrafRc Engineenng .
Persand Services.. 1,774 i,746 28 1,746 1,596 Other Operstmg.. 812 760 52 743 770 Capital Outlay._ 147 146 1 97 14 2,733 2,652 81 2,586 2,380 Landscape and Tree i
Maintenance Personal Senaces., 355 333 22 333 321 Other Operstmg.. 118 95 23 94 102 Capital Outlay... _
17 to 7 10 9 490 ,
438 52 437 432 Total Road and Street Facilities. 10.239 9.558 681 ,
9.462 9.252 Pariang Facildies Other Operating . 313 286 27 286 287 i TotalTransportation. - 10,552 9.844 708 9.748 9.539 Human Services:
Smrth-Whams Center Personal Services.. 135 136 (1) 136 125 Other Operateg.. 58 49 9 46 44 193 185 8 182 169 Sensor Crtizen Center Personal Senaces.. 198 196 2 196 188 Other Operstmg.. 88 83 5 80 74 i Caprtal Outlay - - - - 5 286 279 7 276 267 Lincoln Center . ,
Personal Serwces.. 143 143 - 143 138 Other Operatmg.. 78 70 8 74 75 I
221 213 8 217 213 f
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CITY OF TALLAHASSEE, FLORIDA GENERAL FUND i SCHEDULE OF EXPENDITURES (in thousands)
(Continued) i FiscalYear Ended September 30 1995 1994 Actual on Vanance- '
Budgetary Favorable ,
Budget Basis (Unfavorable) Actual Actual ,
Administraton l' Personal Serwces 3 303 $ 331 8 ( 28) 8 331 3 270 Other Operating.. 735 771 (36) 797 678 1,038 1,102 (64) 1.128 948 )
l
! iiuman Resource Development l' Personal Serwces - 163 165 (2) 165 147
( Other Operstmg.. 730 687 43 657 367 l Cap.ta! 00tay . .
- - - 1 - i l
l 893 852 41 823 514 l Housmg Trust Operatons l Personal Services-- 290 297 (7) 297 306 Other Operating.- 142 51 91 40 146 Captal Oueay 3 3 - 11 4 435 351 64 348 456
'~
Total Human Services -. 3.066 2,982 84 2,974 2,567 Economic Environment:
Industry Development Mmonty Busmess Of5ce Personal Services.. 155 155 - 155 148 Other Operstmg.. 17 18 (1) 20 19 172 173 (1) 175 167 1
Downtown Development Of5ce Personal Services-- 195 193 2 193 -
Other Operetng 116 115 1 112 -
311 308 3 305 -
CDBG Operatons o Personal Serwees.. 163 123 40 123 -
! Other Operating.. 37 26 11 26 -
200 149 51 149 -
l TotalIndustry Development 683 630 53 629 167 Houseg and Urban Development Personal Services.. 70 61 9 61 220 Other Operstmg.. 264 239 25 239 285 {
Capital Outlay.. - - - 1 -
334 300 34 301 505 Total Economic Environment. 1,017 930 87 930 672 i
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CITY OF TALLAHASSEE, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES (in thousands)
(Continued)
Fiscal Year Ended September 30 1995 1994
~
Actual on Vanance.
Budgetary Favorable Budget Basis (Unfavorable) Actual Actual Physical Environment:
Environmental Services 961 18 5 961 5 868 '
Personal Services.. 5 979 5 5 Other Operetng., . 113 100 13 115 83 Capdal Outlay... 28 29 (1) 11 -
1,120 1,090 30 1,087 951 Cemetenes Parsona! Services.. .. . S1 30 2 89 77 Other Operseng.. 176 170 6 179 202 267 259 8 268 279 Engineenng Personal Services.. 1,403 1,293 110 1,293 1,232 Other Operstmg. 294 294 - 288 143 Capital Outlay.. 22 22 - 12 -
1,719 1,609 110 1,593 1,375 Total Physical Environment. .. 3,106 2,958 148 2.948 2,605 Culture and Recreation:
Administration Personal Services.. . 491 480 11 480 513 Other Operstmg.- 834 816 18 812 791 Capetal Outlay 10 9 1 - 30 1.335 1,305 30 1.292 1,334 Grounds and Faceties..
Personal Service 2,701 2,650 51 2,650 2,390 ,
Other Operating.. . 1,122 1,141 (19) 1,096 1,087 Capital Ougay.. . 132 129 3 121 44 3.955 3.920 35 3.867 3,521 Recteacon Personal Services.. 1,545 1,583 (38) 1,583 1,436 Other Operabng.. 445 465 (20) 435 414 C:.pdal Outlay., 14 14 - 11 6 2,004 2.062 (58) 2,029 1,856 Athletcs Personal Services., 1,274 1,211 63 1,211 1,094 Other Operstmg. 456 449 7 432 410 Caprtal Outlay.: 42 26 16 26 19 1,772 1,686 86 1,669 1.523 Total Culture and Recreabon .. . . . 9,066 8.973 93 8.857 8,234 Total Expenditures. S 81.848 5 79.221 5 2.627 5 78.323 $ 72.774 C-10
i CITY OF TALLAHASSEE, FLORIDA GENERALFUND SCHEDULE OF TRANSFERS (in thousands)
Fiscal Year Ended September 30 1995 1994 Vanance. ,
Favorable l Budget Actual (Unfavorable) Actual Operating Transfers:
Operetng Transfers in:
Electne Fund.. 5 39,000 $ 39,000 5 -
3 39,5')9 Water Fund.. 2,882 2,882 -
2"/83 l Gas Fund.. 2,557 2,557 - 2,748 l Sewer Fund.; 731 731 - 685 Special Projects Fund.. . . . .
1)6 136 67 Deficiencies and Emergencies Fund.. 396 -
(396) i 584 Tetal Operst!rts Transfers tr' 5 45.566 5 45.306 5 ( 260) 5
- 46.376 j< Operetng Transfers Out Capitalimprovement Fund.. $ 9,643 $ 9,746 $ ( 103) 5 12,592 l TaDahassee Transa Fund.. 4.015 4,015 -
6.863 j Deficiencies and Emergencies Fund.. 890 672 218 -
Golf Course Fund . 502 502 - 867 i Debt Service Fund.. 2.871 2,871 -
4.289 Special Projects Fund.. 462 462 - 331 Electric Fund-- 53 53 - -
Data Processing Fund.. 10 10 - -
Human Resources Fund.. 135 135 - -
Total Operating Transfers Out 5 18.581 5 18.466 5 115 5 24.942 Residual Equity Transfer:
Residual Equity Transfer Out Rakoad Fund.. 5 - S - S -
$ 20 I
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l- SPECIAL REVENUE FUNDS .
1'
'L i Special Projects Fund-to account for Federal, State, local and other i revenues that are to be used for specific general government purposes.
i -
Stormwater Management Fund-to account for fees restricted for I stormwater operating and capital costs.
I Law Enforcement Forfeiture Fund- to account for forfeitures received by the City as prescribed by Florida Statutes.
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CITY OF TALLAHASSEE, FLORIDA SPECIAL REVENUE FUNDS i l
COMBINING BAl.ANCE SHEET September 30,1995 i (in thousands) l Law Totals l
Special Stormwater Enforcement September 30 Projects Management Forfeiture 1995 1994 ASSETS Cash and Cash Equivalents.. 5 7,561 5 10,567 8 200 5 18,328 5 15,197 Accounts Receivable - 967 439 12 1,418 925 1 Accrued Interest Receivable. 77 105 2 184 132 i Notes Receivable 272 - - 272 345 Total Assets 5 8.877 5 11,111 5 214 5 20.202 5 16.599 I
LIABiUTiES AND FUND BALANCES Uabilities:
Accounts Payable.. $ 198 $ 45 $ - S 243 8 524 Deferred Revenue.. 271 - - 271 391 Total' mbilities. . 469 45 - 514 915 Fund Balances:
I Reserved for:
Projects.. 3,922 9,793 12 13,727, 9,727 Encumbrances.. 4.214 634 81 4,929 2,618 Notes Receivable.. 272 - - 272 345 Total Reserved 8,406 10,427 93 18,928 12,690 Unreserved /Undosignated.. - 639 121 760 2,994 Total Fund Balances. 8.408 11,066 214 19,688 15.684 Total 1.lablittles and Fund Balances S 8.877 $ 11.111 S 214 $ 20.202 8 16.599 l
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l CITY OF TALLAHASSEE, FLORIDA l
SPECIAL REVENUE FUNDS :
COMBINING STATEMENT OF REVENUES, EXPENDITURES f AND CHANGES IN FUND EALANCES For the Fiscal Year Ended Septe mber 30,1995 ,
l (in thousands)
Law Totals Special Stormwater Enforcement September 30 Projects Management Forfeiture __
1995 1994 i
Revenues:
Intergovemmental Revenues.. $ 3,474 $ - $ - 3 3,474 8 1,808 Charges for Services.. ... .
- 7,161 - 7,161 6,912 Fines and Forfeitures.. - - 51 51 62 Interest Eamed.. . . . = 168 530 11 709 524 .
Miscellaneous Reven aes. .. 745 4 20 769 417 !
I Total Revenues _ 4,387 7,695 82 12,164 9.723 Expenditures:
i Current '
641 General Govemment... 541 - - 541 Public Safety... 468 - 47 515 279 Transportation.. . 459 - - 459 355 Human Services.. .. . . . . 563 - - 563 927 l Economic Environment. -- 2,432 - - 2,432 1,639 Physical Environment.- 242 5,276 - 5,518 4,882 Cultural and Recreation. - 30 - - 30 65 Capital Outlay 303 - 35 338 48 Total Expenditures ,, ._ 5.038 5.276 82 10,396 8.836 Excess of Revenues Over (Under) Expenditures. (651) 2.419 -
1.768 887 Y
Other Financing Sources (Uses): '
Proceeds from Loan from Other Fund - - 1,640 - 1,640 -
Operating Transfers in 2,507 - - - 2,507 1,171 Operating Transfers Out.- (269) (1,642) - (1,911) (871) l Total Other Financing Sources (Uses) 2.238 (2) - 2.236 300 Excess of Revenues and Other Finarbeing Sources Over Expenditures and Other Financing Uses. . . 1,587 2,417 - 4,004 .
1,187 j 6.821 8.649 214 15,684 14,497 Fund Balances - October 1... .
l Fund Balances - September 30 $ 8,408 $ 11,066 5 214 $ 19,688 5 15,684 1
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! DEBT SERVICE F0WD l
To account for the accumulation of resources for, and the payment of ,
general long-term debt principal and interest.
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CITY OF TALLAHASSEE, FLORIDA DEST SERVICE FUND BALANCE SHEET (in thousands)
September 30 1995 1994 ASSETS Cash and Cash Equivalents.. . 5 - 5 10 28,786 28,T77 investments..
Accrued interest Receivable.. 91 80 Deposits.- 12 66 5 28,889 5 28,933 Total *=*
FUND BALANCES Fund Balance:
Reserved for: "
S - S 10 Current Debt Service.. .
28,889 28,923 Future Debt Service.. .
28,889 28.933 Total Reserved . -
Total Fund Balance .
5 28.889 5 28.933
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DEBT SERVICE FUND
+
STATEMENT OF REVENUES, EXPENDITURES I AND CHANGES IN FUND BAl.ANCE (in thousands)
FiscalYee Ended September 30 l 1995 1994 Revenue:
$ 1,496 5 1,912 Interest Eamed.. .
i i
Expenditures:
Debt .9orvice:
Principal Retired.- 1,753 3,688 2,850 2,658 Interest and F' scal Char 9es.. .
Refunding Bond issuance Costs -
- 277 )
Total Expenditure = 4.603 8.623 i Excess of Revenues Under Expenditures (3.107) (4.711) l I
Other Financing Sources (Uses):
Proceeds from Refunding Bonds.. - 24,965 3,063 13,504 Operatng Transfers in.. .-
Advance Refunding Escrow..
(24.677)
Total Other Financing Sources (Uses). . . 3.063 13.792 Excess of Revenues and Other Financing Sources Ove'r (44) 9,081 (Under) Expenditures...
Fund Balance - October 1.. 28.933 19.852 Fund Balance - September 30 . $ 28.889 5 28.933 C.15
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I CAPITAL PROJECTS FUNDS it i
l' Capital Improvements Fund-to account.for general revenue used for the
- acquisition or construction of general fixed assets.
- l. i I Capital Bonds Construction Fund-to account for bond proceeds used for l the acquisition or construction of general fixed assets. j i
Transportation Impact Fee Construction Fund-to account for impact fees l used for the acquisition or construction of transportation improvements. l
. I Sales Tax Construction Fund-to account for tax proceeds used for the ll acquisition or construction of public safety and transportation lI improvements.
l Gas Tax Construction Fund-to account for tax proceeds used for the l acquisition or construction of transportation improvements.
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CITY OF TALLAHASSEE, FLORIDA CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET September 30,1995 (in thousands) o Capital Transportalen Totals Cap 4al Bonds impact Fees Sales Tax Gas Tax September 30
. Improvement Construchon Construchon Constuctmn ConstrucBon 1995 1994 ASSETS Cash and Cash Equivalents .. .
5 46,537 5 2,048 $ 4,948 8 43,824 5 2,025 5 99,382 5 85,153 Accounts Receivable.. 2 - - 130 495 627 220 Accrued Interest Receivable . 528 21 49 433 20 1,051 799 investments.. 640 4,238 -
E87 - 5,765 G 771 Special Assessment Recervable:
Current... . . _ . . 24 - - - - 24 133 Deferred . 135 - - - - 135 46 Advance to Other Funds.. 775 - - - - 775 837 Due from Other Funds.. - - - - - -
316 Due from Other Govemments.. . . . 33 - - - - 33 -
Total Assets 5 48,674 5 6,307 5 4,997 5 45,274 5 2,540 5 107,792 5 101,275 g LIABILITIES AND FUND BALANCES a
Liabilities:
Accounts Payable.. 5 82 $ 2 5 - 5 27 5 14 $ 125 5 74 Due to Other Govemments.. - - - - - -
251 Retainage Payable.- 1,422 1,047 136 54 - 2,659 2,698 Deferred Revenue.. 84 - - - - 84 84 Total Liabilities 1,588 1,049 136 81 14 2
',868 3,107 Fund Balances:
Reserved for-Encumbrances.. 6,821 989 288 7.792 417 16,307 22,801 Projects.. . 36,911 2,754 4,320 32,262 1,740 77,987 56,531 Advance to Other Funds.. 775 - - - - 775 837 Total Reserved 44,507 3,743 4,608 40,054 2,157 95,069 80,169 Urveserved/Undesignated.- 2,579 1,515 253 5,139 369 9,855 17,999 Total Fund Balances 47,086 5,258 4,861 45,193 2,526 104,924 98,168 Total Liabilities and Fund Balances 5 48,674 5 6,307 5 4,997 5 45,274 5 2.540- 5 107,792 5 101,275 9
CITY OF TALLAH4SSEE, FLORIDA CAPITAL PROJECTS FUNOS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUNO BALANCES For the Fiscal Year Ended ? f nt x 30,1998 (in thousands)
Capital Transportshon Totals Capital Bonds impact Fee Sales Tax Gas Tax September 30 Improvemert Constucton Construchon Constructon Construc8an 1995 1994 i Revenues:
Local Opbon Sales Tax.. .._. 5 - 5 - 5 - 5 11.183 5 - 8 11.183 5 9,863 Local Option Gas Tax... ..
- - - - 3,696 3,696 3.128 r Speaal Assessment Revenues. - - - - - - 80 Intergovemmental Revenue.. - 291 - - - - 291 -
Charges For Services.. - - 535 - - 535 1,113 ;
i Interest Eamed . . 2,487 531 311 2.135 118 5,583 4,522 Macelaneous., 35 1 - 1 - 37 586 Total Revenue = 2,813 532 846 13,320 3,814 21,325 19,292 l Expenditures:
Capital Outlay-General Govemment... .. - 1,808 42 - - - 1,850 1,251 Putsc Safety... . . . . . ... 1,129 21 7 444 - 1,601 2,395 4,689 8,937 794 2,695 2,822 19,937 17,546 9 Transportabon...
1,130 451 ii'. Human Services.. 1,130 - - - -
Economic Development. . ... 662 - - - - 662 175 Physacal Environment.. 423 - - - - 423 380 Culture and Recreabon.. 1,311 - - - - 1,311 1,790 Total Capital Ou6ay 11,152 9,000 801 3,139 2,822 26,914 23,968 '
Excess of Revenues Over (Under) Expenditures (8,339) (8,468) 45 10,181 992 (5,589) (4,676)
Other Financing Sources (Uses);
Operatng Transfers in._ 13,386 - - 54 - 13,440 13,630 Operating Transfers Out... - (687) -
(404) - - (1,091) (6,885) '
Total Other Financing Sources (Uses) 12,699 -
(404) 54 - 12,349 6,745 Excess of Revenue and Other Financing Sources i
Over (Under) Exper.dttures and Other Financing Use= 4,380 (8.468) (359) 10,235 992 6,760 2,069 i Fund Balances-October 1 42,730 13,726 .5,220 34,958 1,534 98,168 96,216 Resadual Equity Transfer Oid (4) - - - -
(4) (117)
Fund Balances-September 30 5 47,086 5 5,258 8 4,881 5 45,193 5 2,526 5 104.924 5 98,168 i
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ENTERPRISE FUNDS r
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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 I' City-owned gas system.
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,- 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
.i the City-owned water system.
Airport Fund-to account for the assets, operation and maintenance of l;
- the City-owned regional airport.
Tallahassee Transit Fund-to account for the assets, operation and maintenance of the City-owned mass transportation system.
Solid Waste Fund-to account for the assets, operation and maintenance of the City-owned solid waste oMtion.
- Golf Course Fund-to account for the assets, operation and maintenance of the City-owned golf courses.
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CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING BALANCE SHEET September 30,1995 (in thousands)
Electric Gas Sewer W ater ASSETS Current Assets:
Cash and Cash Equivalents.- $ 10,106 $ 172 5 2,129 $ 909 Receivables:
Accrued Interest... 191 3 65 18 Customers.- . 16.123 857 1,802 1,574 Other= 661 - -
Less: Allowance for Doubtful Accounts-- (982) (80) (102) (118)
Inventory... . 4.594 62 - -
Total Current Assets 30,693 1,014 3,894, 2,383 Restricted Assets.
Cash and Cash Equivalents.- 70,015 970 10,946 15,320 investments.. 27,088 8,079 21,428 1,151 Accrued interest. . . . . - 696 47 130, 155 Accounts Receivable 390 - 814 97 Notes Receivable . 5,454 - - -
Due from Other Govemments. - - - -
TotalRestricted Assets . 103.643 9.096 33,318 16.723
- Other Assets:
Unamortized Bond issue Cost. 359 128 446 70 ,.
TotalOther Assets _ . 359 128 446 70 Fixed Assets: j Fixed Assets 406,289 27,921 157,807 71,060 Less Accumulated Depreciation.. (171,548) (6,502) (34,748) (18,765)
Construction in Progress-- 36,876 5,440 13.275 4.590 TotalFixed Assets ._ 271,617 26,859 136,3E 56.885 Total Assets. ._ $ 406.312 5 37,097 5 173,992 5 76.061 D-2
CITY OF TALLAHASSEE, FLORIDA l
ENTERPRISE FUNDS COMBINING BALANCE SHEET September 30,1995 (Continued) l Totals Tallahassee Solid Golf September 30 Airport Transit Waste Course 1995 1994
$ 1,473 5 776 $ 456 $ 148 5 16,169 5 23,282 l
15 8 7 1 308 258 556 195 1,245 - 22,352 17,965 l
! - 774 12 - 1,447 1,277 .,
(28) (6) (91) - (1,407) (,1,720) l
- 602 - 43 5.301 6,618 f 2,016 2,349 1,629 192 44,170 47,680 '
8,571 - 1,814 364 108.000 100,314 l
1,170 - - - 58,916 63,612 85 -
16 4 1.133 890
- - - - 1,301 1,316
! - - - - 5,454 6,071 579, - - - 579 1.582
,' 10,405 - 1,830 368 175,383 173,785 l' l l'
331 - - -
1.334 1,125 331 - - - 1,334 1,125
- l. 66,251 9,196 2,447 2,358 743,329 724,305 l (16,783) (2,473) (1,796) (652) (253,267) (238,432)
! 9,257 3,088 -
204 72,730 66,019 58.725 9,811 651 1,910 562.792 551,892 3 71,477 5 12,160 5 4,110 $ 2,470 $ 783.679, S 774,482 J
\
l l
l l
e j
, l l
l D-3 1 1
I
- -- _ . ..- -- . _ - .- - .... . .. _- - . ~ .
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING BALANCE SHEET September 30,1995 (in thousands)
(Continued) !
4 Electric Gas Sewer Water LIABILTT1ES AND FUND EQUITY Current Liabilities:
Accounts Payable.. . $ 11,736 5 317 $ 188 5 134 Accrued Leave.. . . . . 1,202 133 465 185 Customer Contracts Payab's.. . . . . 1,039 -
800 500 i Due to Other Funds... - - - -
Utility Depossts P'ayable.. . 7,236 77 - 283 Prepaid Fees Cradrt Payabk- - ,- - ' -
, Total Current LJabilities _ 21.213 527 1,453 1.102 Payable from Restricted Assets:
Retainage and Accounts Payable.. 4,557 516 1,341 519 Customer Advances- - - - -
Deferred Revenue.. 376 - - -
Total Payable from Restricted Assets . _. 4,933 516 1,341 519 6 Other Liabilities:
Loans frorr, Other Funds--- - 1,473 5,305 5,203 Advance from Other Funds- - - - -
Customer Contracts Payable ; 13 - 1,823 1,107 Customer Advances- 1 - - -
Accrued Leave 1,536 138 427 177 Bonds Payable.-. 110,819 18,995 63,700 11,105 Less: Sond Discount.-- (1,122) (53) (248) (9)
Deferrnent of Gain (Loss) on Early Retirement of Debt - 454 (3,356) (723)
Total other Liabilit'es. _ 111.247 21,007 67,651 16,860 Total Liabilities ._ 137,393 22,050 70,445 18,481 Fund Equity:
Cc,ntnbuted Capital 2,126 19 17,268 -
Rstained Eamings:
Reserved.. .. .. 87,125 3,047 19,131 14,477 Unreserved. 179.668 11.981 67,148 43,103 '
Total Fund Equity 268.919 15,047 103.547 57,580 Total,Llabilities and Fund Equity .. 5 406,312 5 37,097 5 173.992 5 76.061 I
l O
. D-4
CITY OF TALLAHASSEE, FLORIDA i ENTERPRISE FUNDS COMBINING BALANOE SHEET September 30,1995 l
(Continued) i Totals l Tallahassee Solid Golf September 30 Arport Transit Waste Course 1995 1994 l
l $ 409 $ 133 $ 607 3 28 3 13,552 $ 10,552 j 126 241 222 42 2,616 2,480 l
- - - - 2,339 2,385 73 4 - -
77 69 l
l - - - - 7,596 7,530 687 - - - 687 549
, 1,295 378 829 70 26,867 23,565 l'
227 - -
2 7,162 8,767 ,
- - - - - 4 2 - - - 378 388 j 229 - - 2 7,540 9,159 3,375 - - - 15,356 15,913 j
<- 1,155 603 - - 1,758 1,289
- - - - 2,943 2,645
- - - - 1 7 218 132 316 33 2.977 2,888 16,595 - - - 221,214 217,488 ,
(179) - - - (1,611) (2,736)
- - - - (3,625) -
l 21,164 735 316 33 239,013 237,494 22,688 1,113 1,145 105 273,420 270,218 1
38,715 8,637 789 1,492 69,046 72,909 5,086 289 1,742 366 131,263 116l327 4,988 2,121 434 507 309,950 315.028 l l
48,789 11,047 2,965 2,365 510.259 504,264 5 71,477 5 12.160 5 4.110 5 2.470 5 783.679 5 774,482 l
1
, 1 D-5
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1995 (in thousands)
Electric Gas Sewer Water Operating Revenue:
Charges for Services:
Residential Sales... $ 72,116 $ 4,630 $ 11,033 $ 8,555 Recyclables Sales.. . .
Commercial and Industrial Sales.. 83,022 6,746 10,012 5,312 Public Street and Highway Ughting.- 1,128 - - -
Sales for Resale.. . 12,509 3 - -
5,780 Sales to Other Funds.. 92 186 341 Surcharge.. 1,498_ 14 365 1,006 Tapping Fees.. '
121 907 Landing and Tie Down Fees . . - - - -
Late Fees.. 362 40 - 60 Initiating Service. 618 75 - 484 Rentals. 283 - - 53 Cut-ins and Cut-fees.. 998 106 - 446 Recreation Fees._ - - - -
Transportation Fees.. - - - -
Other. 6,105 686 1.813 471 Total Operating Revenues. . . 184.419 12.392 23.530 17,635 Operating Expenses:
Personal Services.. 16,252 1,56;2 6,738 3,329 Fossil Fuel 50,588 - - -
Power Purchased.. 34,838 - - -
Gas Purchased.. .
- 4,179 - -
Materials and Supplies.: 4,517 129 1,782 520 Contractual Services.. 20,915 1,557 5,273 4,708 Other Expenses.. 4,079 1,255 3,700 3,234 Less: Applied Equipment Charges.. (83) (172) (3) (70)
Depreciation 13,236 587 3,600 1,758 Amortization.. . 167 - 107 21 Total Operating Expenses 144.509 9.097 21.197 13.500 Operating income (Loss). .-. 39.910 3.205 2.333 4.135 O
O-6
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1995 (Continued)
Totals Tallahassee Solid Golf September 30 Ahport Transit W aste Course 1995 1994 3 -
$ 6,899 5 - $ 103,233 $ 98,811 594 - 594 209
- - 6,962 - 112,054 112,779
- - - - 1,128 1,188
- - - - 12,512 5,937
- - - - 6,399 5,480
,_ - - - 2,883 2,564
- - - - 1,028 935 147 - - - 147 139 462 577
- - - - 1,177 1,159 6,437 - - - 6,773 6,299
- - - - 1,550 915 877 877 838 2.035 - - 2,035 1,839 39 - 1 57 9,172 6,861 6,623 2,035 14.456 934 ,
262.024 246,530 2,013 4,797 3,466 794 38,951 37,234
- - - - 50,58C 33,725
- - - - 34,838 32,674
- - - - 4,179 5,628 645 754 111 203 8,661 8,236 1,859 1,617 9,772 237 45,938 38,049 l 238 464 126 164 13,260 12,186 (328) (319) 1,980 379 75 105 21,720 18,138 32 - - - 327 297 6,767 8.011 13,550 1,503 218,134 191,848 (144) (5,976) 906 (569) 43.890 54.682 4
0 9 i
i D-7
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1995 (in thousands)
(Continued)
Electric Gas Sewer Water Nonoperating Revenues (Expenses):
Interest Revenue.. 5 6,181 5 398 5 2,014 5 931 Gain / (Loss) on Sale of Surplus Property.. (8) - 7 (9)
Grant Revenue.. - - - -
Other Revenue. 1,527 42 4,811 1,788 Interest Expense.- (3,296) (752) (3,248) (464)
Other Expenses. (498) (366) -
(393)
Total Nonoperating Revenues (Expenses) 3.906 (678) 3.584 1.853 Income (Less) Before Operating Transfers . 43,816 2,617 5,917 5,988 Operating Transfers in (Out): .
Operating Transfers in.- . 208 11 4 3 Operatrig Transfers Out. (39.150) (2.565) (945) (2.895)
Netincome(Loss) - 4.874 63 4,976 3,096 Disposition of Net income (Loss):
Increase in Contnbuted Capital. - - - -
Depreciation on Contributed Assets. - - 649 -
Net increase (Decrease)in Retained Earnings 4,874 63 5,625 3,096 Retained Eamings - October i : 266,120 14,971 80,798 54,576 Residual Equity Transfers Out... (4.201) (6) (144) (92)
Retained Eamings - September 30_ 5 266.793 5 15.028 5 88.279 5 57.580 i
O f
D-8
1 CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF REVEi4UES, EXPENSES AND CHANGES IN RETAINED EARNINGS For the Fiscal Year Ended September 30,1995 (Continued)
Totals TaHahassee Solid Golf September 30 Airport Transit Wat,te Course 1995 1994 i
5 463 5 - 5 100 5 25 5 10,112 5 7,280 (2) (12) 41 l
- 1,824 - - 1,824 1,463 l 29 49 12 - 8,258 5,989 l (1,242) - - - (9,002) (5,288) l (416) (132) - -
(1.805) (1,163) l (1.166) 1:741 112 23> 9.375 11.322 1
~
(1,310) (4,235) 1,018 (546) 53,265 66,064 l l
1 4.015 -
502 4,743 8,044 (6) (48) (9) (2) (45.620) (47.002)
(1,316) (268) 1,009 (46) 12,388 27,046 (158)
' 1.348 253 - -
2.250 2.227 i
32 (15) 1,009 14,638 29,115 (46) )
l 10,128 2,425 1,330 1,007 431,355 402,240 (86) -
(163) (88) (4.780) -
i, 5 10.074 5 2. g 5 2,178 5 873 5 441,213 5 431.355 l i
9
. l l l l
f f
l D-9 1
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS l For the Fiscal Year Ended September 30,1995 I (in thousands) l l
Electric Gas Sewer Water l Increase (Decrease)in Cash and Cash 1 Equivalents:
Cash Flows from Operating Acevities:
Cash Received from Customers. 5 172,042 $ 12,246 $ 23,273 5 17,031 Cash Received from Other Funds 5,780 92 186 341 Other- 1,021 (328) 1,186 563 l Cash Payments to Suppliers for Goods !
and Services (99,071) (5,555) (6,588) (5,790) , ;
Cash Payments to Employees for Services.. -(15,791) (1,534) ,
(6,713) (3,314)
Payments to Other Funds-- (8,778) (1.399) - (4,140) (2.640) '
Not Cash Provided by (Used for)
Operating Activities. 55.203 3.522 7,204 6,191 Cash Flows from Noncapital Financing Activities:
Operstmg Transfers in from Other Funds.... .. 208 11 4 3 Operatmg Grants Received - - - -
Operatog Transfers Out to Other Funds (39.150) (2.565) (945) (2.895)
Not Cash Provided by (Used for)
NoncapitalFinancing Activities (38.942) (2.554) (941) (2.892)
Cash Flows from Capital and Related Financing Activities:
Receipts from Energy Loan Program 5,014 - - -
Proceeds from Sale of Bonds - - 9,262 30,828 6,690 Advances from Other Funds.- -
Capital Grants Received.- - 19 - -
Capital Contributions- - - - - ;
Proceeds from the Sale of Property.- - - - - l System Charges-- - - 3,625 832 ,
Acquisition and Construction of !
Capital Assets. (17.660) (3,317) (10,095) (3,946) l Residual Equity Transfer Out.... (6) (144) (88) :
(218)
Principal and Refunding Payments - . (4,119) (1,997) (34,571) (5,721) l Repayment of Loans from Other Funds.. -
(66) (239) (252) l Repayment of Capital Advances - - - -
Funding of Energy Loan Prcgram (4,330) - - -
interest Paid.--
(6,528) (936) (4,017) (528) i Net Cash Provided by (Used for) Capital }
and Related Financing Activities. (27,841) 2.959 (14.613) (3.013) ,
Cash Flows fro'n investing Activities i
Proceeds from Sale and Matunties of investment Secunties.- 18,195 3,669 13.580* 2,538 i Receipts of Interest on investments. 7,046 375 2,201 901 Purchase of Investment Secunties.. (14.875) (8.365) (8,448) (1.598)
Net Cash Provided by (Used for) ,
investing Activities 10.368 (4.321) 7.333 1,841
. . . _ _ l f
l O-10
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS I j For the Fiscal Year Ended September 30,1995 l (Continued)
Totals Tallahassee Solid Golf September 30 Airport Transit Waste Course 1995 1994 L'
$ 6,535 5 1,960 $ 14,289 $ 934 5 248,310 $ 243,930
- - - - 6,399 5,480 ,
(387) 521 5 - 2,581 3,336 1 (2,327) (1,433) (7,734) (486) (128,984) (123,197) ,
(2,006) (4,754) (3,468) (786) (38,366) (36,528)
. (409) (1,494) (2.276) '(126) (21.262) (20.212) 1,406 (5 200) 816 (464) 68,678 72.809
- 4,015 - 502 4,743 7,886
- 1,717 - - 1,717 1,393 (6) (48) (9) (2) (45.620) (47,002)
(6) 5.684 (9) 500 (39.160) (37,723)
\i .
- - - - 5,014 5,742
- - - - 46,780 41,478
. - - - - - 3,255 4,863 153 - - 5,035 3,794 158 40
- - - - 4,457 4,778 (5,031) (148) (9) (219) (40,425) (35,522)
(30) -
(163) -
(649) -
(270) - - - (46,678) (6,583)
(557) (361)
(134) - - -
(134) (6,641)
- . - - - (4,330) (5,395)
(1,353) - - -
(13.362) (11.689)
(1,955) 5 (172) (219) (44.849) (6.946)
- - - - 37,982 34,104 560 -
100 25 11,208 7,562 (33.286) (54.450) 560 - 100 . 25 15.904 (12,784)
D-11
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1995 (in thousands)
(Continued)
Electric Gas Sewer W ater Net increase (Decrease)in Cash and Cash Equivalents.- 5 ( 1,214) 5 (394) $ (1,017) $ 2,127 Cash and Cash Equivalents .
October 1 - 81,335 1.536 14.092 14.102 Cash astd Cash Equivalents -
September 30 . 5 80.121 5 1,142 $ 13.075 5 16.229 Classified As:
Unrestncted Assets.- $ 10,106 $ 172 5 2,129 8 -
909 Restricted Assets-- 70.015 970 10.946 15.320 5 80.121 5 1,142 5 13.075 5 16.229 Reconciliation of Operating incom t (Loss) to Not Cash Provided by (Used for)
Operating Activities:
Operatog income (Loss)... $ 39.910 5 3.295 S 2.333 $ 4.135 Adjustments to Reconcile Operating income (Loss) to Not Cash Provided by (Used for) Operating Activities:
Depreciation.. 13,236 587 3,600 1,758 Amortization. ._ 167 - 107 21 Provision for Uncollectible Accounts - -
(3) 5 Other.- 1,021 (328) 1,186 563 Change in Assets and Liabilities:
Increase in Accounts Receivable - (3,744) (71) (104) (255)
Increase in Other Accounts Receivable.- (167) -
(6) -
Decrease in Due from Other Funds.. - - - -
(Increase) Decrease in inventory.- 1,374 - - -
Inprease (Decrease)in Accounts Payable-- 2,983 11 66 (5)
Increase in Due to Other Funds. - - - -
Increase (Decrease) in Customer Contracts Payable.. 254 - - -
Increase (Decrease)in Utihty Deposits Payable... 78 - -
(ii)
Increase (Decrease) in Deferred Revenue - (12) - -
Increase (Decrease) in Customer Advances.- (6) - -
Increase (Decrease)in Accrued Leave 109 28 25 (20) increase in Prepaid Fees Credit. - - - - -
Tots! Adjustments . . . 15.293 227 4.871 2.056, Net C; .1 Provided by (Used for) Operating Activities. . . S 55.203 $ 3.522 5 7.204 5 6.191 1
i l
l D-12 m__ . __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ . _ _ _ _ _ _ _
CITY OF TALLAHASSEE, FLORIDA ENTERPRISE FUNDS COMBINING STATEMENT OF CASH FLOWS ,
For the Fiscal Year Ended September 30,1998 (Continued) l Totals Tallahassee Solid Golf September 30 Airport Transit Waste Coun.e 1995 1994 5 5 5 489 $ 735 5 (158) 5 573 $ 15,356 l 10.039 287 1.535 670 123.596 108.240
$ 10.044 5 776 $ 2,270 $ 512 $ 124,169 5 123.596
{
$ 1,473 $ 776 .5 456 $ 148 5 16,169 $ 23,282 8.571 - 1,814 364 108.000 100,314
- 5 10.044 5 776 5 2.270 5 512 5 124.169 5 123.596 5 ( 144) $ ( 5.976) S 906 S ( 569) $ 43,890 $ 54,682 i
i 1,980 379 75 105 21,720 18,138 l> 32 - - -
327 297
- - 110 - 112 190 (387) 521 5 - 2,581 3,336 (236) (75) (276) - (4,761) (181) l (173) (124) 7
- - - - - 6 (50) -
(7) 1,317 924 l 6 (30) (2) - 3,029 (4,894) l 8 - - - 8 6
- - - - 254 (71)
- - - - 67 266 o 2 - - -
(10) (13)
(6) T lt 7 31 .
(2) 7 185 206 l; 138 - - - 138 34 ,
1.550 776 (90) 105 24,788 18.127 5 1.406 5 ( 5,200) S 816 5 (464) 5 68.678 5 72.809 t
i D-13 1
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND BALANCE SHEET (in thousands)
September 30 $
1995 1994 l ASSETS
' Current Assets:
Cash and Cash Equivalents - 5 10,106 5 17,814 Accounts Receivable:
Accrued interest... 191 154 Customers 16.123 12,694 ,
Other - 661 494 Less: Allowance for Doubtful Accounts - (982) (1,297) inventory-Fossi Fuel.- 1,578 2.644 Nuclear Fuel._ 7,568 . 7,542 .
Accumulated Amortization of Nuclear Fuel (4,552) (4,218)
Total Current Asse*= 30,693 35,827 Restricted Assets:
Cash and Cash Equivalents:
1,798 1,271 :
Revenue Bonds Reserve Revenue Bonds Construccon.. ..
- 2.985 Revenue Bonds R R & l.. 39,396 31,582 Operetng Reserve... 19,317 21,384 Other . 9,504 6,299 70.015 63.521 i
investments:
Revenue Bonds Reserve 10.650 10,641 Revenue Bonds Construenon . 12,758 16,353 Other= .. 3.680 3,414 27,088 30.408 -
Accounts Receivable: .
I Accrued interest... 696 558 Reg enue Bonds R R & l.. .. 390 457 -
1,086 1,015_ i
- I Notes Rcca%b!a:
Other._ . . 5.454 . S.071 5.454 6,071 ;
Tntal Restricted Assets _ 103.643 101,015 Other Assets:
Unamortzed Bond issue Cost... 359 401 TotalOther Assets _. 359 401 Fixed Assets: 1 Fixed Assets . 406,289 393,088 j Less: Accumulated Depreciation (171,548) .
(161,139)
Construcbon in Progress.. 36,87d 37,794
{
271.617 269,743 i Total FImed Assets .. .
Total Assets _ -. . ._ _._ 5 406.312 5 406.986 l l
Yne accompanying notes are an integral part of these financial statements.
D.14
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND BALANCE SHEET (in thousands)
(Continued)
September 30 1995 1994 LIABILITIES AND FUND EQUITY Current Llaellities:
Accounts Payable.- 5 11,736 8 8,753 Accrued Leeve.- 1,202 1,137 Customer Contract Peyeble . 1,039 785 Utility Deposts Payable.. 7.236 7,158 Total Current Liabilities 21,213 17,833 l Payable from Restricted Assets:
Retainage and Accounts Payable 4,557 5,316 l
Deferred Revenue.. 376 388 Total Payable from Restricted Aa* 4.933 5,704 l , Other Liabilities:
1 Customer Contracts Payable.. 13 13 l Customer Advances.. ... 1 7 Accrued Leave - 1,536 1,492 l Bonds Payable. 110,819 114,938 l (1,247) l Less: Bond Discount.-- (1.122)
' Total Other Llai~~' - _ - 111.247 115,203 Total Liabilities. _ _ 137,393 138,740 Fund Equity:
2,126 -
l Contnbuted Capital-- 2,126 Retained Emmmgs Reserved for:
- Revenue Bonds.- 12,466 11,923 Revenue Bonds RR & l.. 39,854 30,,475 Operstmg Reserve.. 19,508 21,569 Other Reserves . .
15,297 12,439 Total Reserved. _ . 87,125 76,406 Unreserved.. 179,668 189,714 Total Fund Equity _ _. 268.919 268.246 Total Liabilities and Fund Equity _ _ _ $ 406.312 5 406,986 l
l l
- l . .
l 1
j I
i The accompanymg notes are an integral part of these financial statements.
D-15
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS (in thousands)
Fiscal Year Ended September 30 >
1995 1994 Operating Revenue: l Charges for Ser tes.
Rosadenbal Sales.- . S 72,116 8 68,389 Commercial and industrial Sales.. 83,022 84,222 Public Street and Highway Lighhng.. 1,128 1,188 Sales for Resale.- 12,509 5,840 Sales to Geer Funds.. ... 5,780 4,800 Surcharge.. . 1.498 1,256 ,
Late Fees.. 362 459 irubahng Service.. . 618 610 ,
Rentais.. 283 277 Cut-ins and Cut-fees . 998 588 Other 6.105 3,854 Total Operating Revenues - 184.419 171.283 Operating Expenses:
Personal Services.. 16,252 15,824 Fossal Fuel 50,588 39,725 Power Purchased 34,838 32,674 Materials and Supplies.. 4,517 4,186 '
Contractual Services.- 20,915 14,185 Other Expenses._ 4,079 3.820 Less: Applied Equipment Charges.. (83) (147)
Deprecahon. 13,236 -
11,350 Amortizadort . . . . 167 175 Total Operating Expenses. . _ . _ 144,509 121,7E Operating income .. 39,910 49,491 ,
Nonoperating Revenues (Expenses):
Interest Revenue.. 6,181 5,709 Gain (Loss) on Sale of Surplus Propert/.- (8) 40 01her Revenue... 1,527 2,162 Interest Expense.. (3,296) (2,727) l Other Expenses.. . (498) (310)
Total Nonoperating Revenues (Expenses) . ... .. 3.906 4,874 Netincome Before Operating Transfers - 43,816 54,365 Operating Transfers in (Out):
Operahng Transfers tri.. 208 1 Operahng Transfers Out. . (39,150) (39,760) .
Not income -..~. 4,874 14,606 1
Retained Eamengs - October 1.. 266,120 251,514 l Residual Equdy Transfer out... (4.201) -
Retained Eamings . September 30 . . . . . .. . 5 266.793 5 266.120 The accompanying notes are an integral part of these financial statements.
D-18
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND STATEMENT OF CASH FLOWS (in thousands) Fiscal Year Ended September 30 increase (Decrease) in Cash and Cash Equivalents: 1995 1994 Cash Flows from Operating Activities:
Cash Received from Customers.- S 172,042 S 169,590 Cash. Received kom Other Funds. 5,780 4,800 Other.. 1,021 1,852 Cash Payments to Suppliers for Goods and Services.- (99,071) (92,253)
Cash Payments to Employees for Services - (15,791) (15,308)
Payments to Other Funds - (8,778) (9,081)
Not Cash Provided by Operating Activities. 55.203 59.602 Cash Flows from Noncapital Financing Activities:
Operahng Transfers in from Other Funds.- 208 1 Operahng Transfers Out to Other Funds.- (39,150) (39,760)
Not Cash Used for Noncapital Financing Activities.__ __ (38.942) (39,759)
Cash Flows from Capital and Related Financing ActMiles: 2 Proceeds kom the Sale of Property - - 40
, Receipts from Energy Loan Program.- 5,014 5,742 Acquaton and Construction of Capital Assets.- (17,660) (14,247) 4 Resedual Equity Transfer Out - (218) -
Fundng Energy Loan Program-- (4,330) (5,395)
Pnneipal and Refunding Payments-- (4,119) (4,125)
Interest Paid.. (6,528) (6.697)
Not Cash Used for Capital and Related Financing Activities _ (27.841) (24,682)
Cash Flows from investing ActMtles:
Proceeds from Sale and Matunbes of Investment Secunbes . . . . 18,195 16,244 g Receipts of interest on investments.. 7,046 5,914 Purchase of Investment Secunbes- (14,875) (11,699)
Not Cash Provided by investing Activities 10,366 10,459 Not increase (Decrease) in Cash and Cash Equivalents.. (1,214) 5,620 Cash and Cash Equivalents - October 1: 81,335 75,715 Cash and Cish Equivalents - September 30 ____ S 80,121 5 81,335 Classified As:
UnrestrictW Assets.- S 10,106 3 17,814 Restricted Assets.. .. 70,015 63,521 t
5 80.121 5 81,335 Reconciliation of Operating income to Not Cash Provided by Operating Activities: .
Operstmg income.. S 39,910 $ 49,491 l
l Adjustments to Reconcile Operating income to Not Cash Provided by Operating Activities:
Depreciation.. 13,236 11,350 Amortization.. 167 175 7l Other.. 1,021 1,852 l: -
l' Change in Assets and Liabilities:
, (Increase) Decrease in Accounts Receivable.. (3,744) 214 l
increase in Other Accounts Recorvable.. ..... (167) (124)
Decrease in Inventory *374
, 941 increase (Decrease)in Accounts Payable.. 2.983 (4,592)
Increase (Decrease) in Customer Contracts Payable.. 254 (71)
Increase in Utsty Deposits Payable.. 78 338 Decrease in Deferred Revenue.. (12) (13) increase (Decrease)in Customer Advances.. (6) 7 increase in Accrued Leave.. 109 34 f 15,293 10,111 l
Total Adjustments .
Not Cash Provided by Operating Activities._ S 55,203 $ 59.602 j . _
The accompanying notes are an integral part of these financial statements.
D.17 i
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND SCHEDULE OF OPERATING EXPENSE (in thousands) ;
Fiscal Year Ended September 30 1995 1994 Administrative and General:
Personal Services - 3 3,575 5 2,345 Contractual Services.. 10,527 8,532 Materiais and Supplies.. 612 327 Other.. 3,552 2.226 18.266 13.430 Distribution: !
Personal Services.. :- 4.916 5,188 !
Contractual Services.. ['.- 2,396 1,247 !
1 Materials and Supplies-. 522 523 }
Other - 47 1,055 7,881 8.013 Transmission:
Personal Services.. 184 107 t Contractual Serwces.. 259 372 Materials and Supplies.. 6 4 Other _. 78 79 527 562 1
Engineering:
Personal Services.. 1,367 1,727 Contractual Services.. 801 828 Materiais and Supplies. 504 333 Other 325 274 2,997 2.962 Generation:
Personal Services.. 6,210 6,457 Fossil Fuet.. 50,588 39,725 Contractual Sennces.. e932 3,406 Power Purebased.. 34,838 ' 32,674 Materials and Supplies.. 2,873 2,999 Other.. 77 186 101,518 85.447 Less: Applied Equipment Charges.. (83) (147)
Deprooston 13,236 11,350 .
Amortization.. 167 175 13.320 11,378 Total Operating Expense ........$ 144.509 $ 121,792 l
The accompanying notes are an integral part of these financial statements.
D-18
CITY OF TALLAHASSEE, FLORIDA ELECTRIC FUND REGULATORY SCHEDULE OF OPERATING EXPENSE (in thousands)
Fiscal Year Ended September 30 1995 1994 Fossa Fuel.. $ 50,588 $ 39,725 Nuclear._ .
1,630 1,613 Purchase of Power.. 34,838 32,674
. Production.
Operating.. 5,784 5,635 Maintenance.. 7,520 5,426 Transmission:
Operating.. . . - - 702 638 Maintenance.. 146 465 Distnbution: ,
Operating.: 4,389 4,284 Maintenance.. 2,637 2,428 Administrative.. 11,806 7,679 Automotive Equipment Expense.. 1,267 855 Less: AppSed Equement Charges.. (83) (1 :T' Deproosbon 13,236 11,350 Amortization.. 167 175 Customer Accounts Expense.. 8,688 7,814 Other.. 1,194 1,178 Total Operating Expense 5 144,509 $ 121,792 The above schedule is presented in accordance vnth the Uniform Chart of Accounts as promulgated by the Federal Energy Regulatory Commission.
r 1
I l
l I
l I
l The accompanying notes are an integral part of these financial statements.
D-19
CITY OF TALLAHASSEE, FLORIDA GAS FUND BALANCE SHEET (in thousands)
September 30 1995 1994 ASSETS Current Assets:
Cash and Cash Equivalents.. 5 172 5 381 Accounts Receivable:
Accrued interest .. 3 3 Customers.. 857 803 Less: Allowance for Doubtful Accounts.- (80) (97)
Inventory:
Fossil Fuel - 62 62 Total Current Assets .- 1,014 1,152 ,
Restricted Assets:
Cash and Cash Equivalents:
Revenue Bonds Renewal and Replacement.- 970 460 Other= - 695 970 1,155 .
Investments:
Sunshine State Construction.- - 96 Revenue Bonds-- 1,071 1,105 Revenue Bonds Construction.- 7,008 2.182 8,079 3,383 Accounts Receivable:
Accrued interest Receivable-- 47 10 Due from Other Govemments:
Revenue Bonds Renewal and Replacement.-- - 19 Total Restricted Assets . _ 9.096 4,567 Other Assets:
Unamortized Bond issue Cost. 128 21 Total Other Assets . _ __ 128 21 Fixed Assets:
Fixed Assets.. 27,921 26,690 Less: Accumulated Depreciation.- (6,502) (5,931)
Construction in Progress.- - . - 5.440 2.891 Total F1xed Assets 26,859 -
23,650 Total Assets . .... ..... . . . . . . $ 37.097 $ 29.390 The accompanying notes are an integral part of these firancial statements.
D-20
l l CITY OF TALLAHASSEE, FLORIDA l GAS FUND
! BALANCE SHEET (in thousands)
(Continued)
September 30 1995 1994 LIABILITIES AND FUND EQUITY l Current Liablistles:
Accounts Payable $ 317 5 305 Accrued Leave- 133 121 Utility Deposits Payable 77 78 l
Total Current Liabilities _ 527 504 Payable from Restricted Asaets:
Retainage and Accounts Payable.. 516 201 l Customer Advances.- - 4 I
Total Payable from Restricted Assets 516 205 I Other Liabilities: l Accrued Leave - 138 122 1 Loans from Other Funds 1,473 1,539 .
, Bonds Poyable.- -
18,995 12.186 l Less: Bond Discount- (53) (156) j Deferment of Gain on Earfy Retirement of Debt 454 -
l Total Other Liabilities 21.007 13.691
- l l
Total Lla6ilities. 22.050 14,400 1 Fund Equity: l l
CShtnbuted CeF 19 19 Retained Eamings:
Reserved for-
! Revenue Bonds Reserve- 1,464 1,050 Revenue Bonds Renewal and Replacement..- 977 475 Other 606 674 Total Reserved 3,047 2,199 Unreserved 11,981 12,772 Total Fund Equity . 15.047 14,990 Total Liabilities and Fund Equity . -- 5 37,097 $* 29,390 l
l i
I The accompanying notes are an integral part of these financial statements.
D-21 i
i
CITY OF TALLAHASSEE, FLORIDA r
GAS FUND STATEMENT OF REVENUES EXPENSES AND CHANGES IN RETAINED EARNINGS (in thousands)
Fiscal Year Ended September 30 1995 1994 Operating Revenue:
Charges for Servces:
Reedential Sales _ $ 4,630 $ 4,807 Commercial and Industrial Sales.. 6,746 7,688 Sales for Resale : 3 297 Sales to Other Funds.. 92 129-Late Fees.. 40 47 Irvtistmg Service.. 75 67 Cut-ins and Cut-fees.. .. . . , - 106 58 Surcharge.. 14 10 Other.. 686 565 Total Operating .'t=-_- _ - 12,392 13.668 Operating Expenses:
Personal Services - 1,562 1,470 Gas Purchased.. 4,179 5,628 Matenais and Supp6es. 129 110 Contractual Services.. 1,557 1,583 Other Expenses. 1,255 .
1,696
. Less: AppEed Equipment Charges.. (172) (155)
Deprooabon 587 531 Total Operating Expenses _. 9,097 10,863
,, Operating income ._ 3.295 2,805 Nonoperating Revenues (Expenses):
Interest Revenue.; 398 47 Other Revenue. 42 11 Interest Expense.. ..
(752) (135)
Other Expenses. . (366) (62)
Total Nonoperating Revenues (Expenses) _ (678) (139) income Before Operating Transfers. 2,617 2,666 Operating Transfers in (Out):
Operatng Transfers in.. 11 -
Operstmg Transfers Out... (2,565) (2,750)
Net income (Loss) . . . 63 (84) 1 Retamed Eamings - October 1.- 14.971 15,055 l Residual Equity Transfer Out... (6) - - 1 Retained Eamings - September 30 . . 5 15.028 5 14,971 The accompanyng notes are an integral part of these financial statements.
D-22
CITY OF TALLAHASSEE, FLORIDA GAS FUND STATEMENT OF CASH FLOWS (in thousands)
Fiscal Year Ended September 30 1995 1994 increase (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operating Activities:
Cash Received from Customers.. 4 12.246 5 13,431 Cash Received from Other Funds.. .. 92 129 Cash Payments to Suppliers for Goods, and Services. (5,555) (8,234)
Cash Payments to Employees for Services.. (1,534) (1,428)
Payments to Other Funds-- (1,399) (1,113)
Other.. (328) 1 Not Cash Provided by Operating Activities _ . 3.522 2,786 Cash Flows from Noncapital Financing Acevities:
Operstmg Transfers in from Other Funds - --
11 Operating Transfers Out to Other Funds.- (2.565) (2.750)
Not Cash Used for Noncapital Financing Activities _ ._ _. (2.554) (2,750)
Cash Flows from Capital and Related Financing Activities:
Proceeds from Bonds-- 9,262 9,185 Capital Grants Received 19 -
Acquisition and Construction of Capital Assets.. (3,317) (3,235)
Residual Equity Transfer out. - (6) -
Pnneipal Payments (1,997) (71) l Payment on Loan from Other Funds.- (66) (79) l Repayment of Capital Advances. - (3,250)
Interest Paid. (936) (200)
Not Cash Provided by Capital and Related Financing Activities. . 2.959 2.350
- Cash Flows from investing Activities
- ,
Proceeds from Sale and Maturities of Investment Secunties 3,669 6,709
( Receipts of Interest on investments = 375 57 Purchase of Investment Securities.- (8.365) (9.470)
Not Cash Used for investing Activities . (4.321) (2.704)
Net Decrease in Cash and Cash Equivalents.- (394) (318) l Cash and Cash Equivalents - October 1 - 1.536 1.854 l' Cash and Cash Equivalents - September 30. ... - $ 1,142 5 1.536 l Classified As:
Unrestricted Assets $ 172 5 381 Restricted Assets.... 970 1.155 5 1.142 $ 1.536 l' ReconcNistion of Operating income to Net Cash Provided by Operating ActMtles:
Operating Indome.- S 3.295 $ 2,805 Adjustments to Reconcile Operating income ,
to Not Cash Provided By Operating Activities:
Depreciation.. . 587 531 Other (328) 1 Changes in Assets and Liabilities: .
Increase in Accounts Receivable (71) (108)
. Decrease in inventory.... ,
12 j increase (Decrease)in Accounts Payable., 11 (465) l Increase in Accrued Leave.. 28 10 i Total Adjustments... . . .. . 227 (19)
. Net Cash Provided by Operating Activities. . . - . $ 3.522 $ 2.786 The accompanying notes are an integral part of these financial statements.
D-23 l
t
CITY OF TALLAHASSEE, FLORIDA GAS FUND SCHEDULE OF OPERATING EXPENSE (in thousands)
Fiscal Year Ended September 30 1995 1994 Administrative and General:
Personal Services.. 8 653 5 533 Contractual Services.. 1,116 1,080 Matenais and Supe - 19 18
- Other Expenses.. 1.231 1.674 3.019 3.305 l Peak Shaving: '
Personal Services.- 1 1 j 5 Contractual Senaces. '. -
2 -
Matenais and Supplies.. - 1 l 3 2 Transmission and Distribution:
Personal Services. 908 936 Gas Purchased. .
4,179 5,628 Contractual Services.. 439 503 ,
Metenais and Supplies.- 110 91 Other Expenses.. 24 22 i 5.660 7.180 Lees: Applied Equipment Charges.. (172) (155)
Depreambon .
587 531 Total Operating Expense . 5 9.097 $ 10.863 GAS FUND REGULATORY SCHEDULE OF OPERATING EXPENSE (in thousands) s FracalYear Ended September 30 1995 1994
- Purchase of Gas.. ..~.. 5 4,179 3 5,628 Distnbubon:
Operetng . 727 614 Maintenance.. .. 140 194 ,
Administranve. 1,018 1,062 Automotve Equipment Expense.. .. 262 + 274
- Less: Applied Equipment Charges.. _ (172) (155)
Deprecation.- 587 531 '
~
Customer Accounts Expense.. ... 1.226 1,133 Other.. . 1.130 1.582 Total Operating Expense. $ 9.097 $ 10.863 The above schedule is presented in accordance with the Uruform Chart of Accounts as promulgated by the Federal Energy Regulatory Commission.
The accompanying notes are an integral part of these financial statements.
D-24 l l
i 1 l
l CITY OF TALLAHASSEE, FLORIDA !
SEWER FUND BALANCE SHEET (in thousands) i l
September 30 l 1995 1994 l l
ASSETS Current Assets:
Cash and Cash Equivalents.. 3 2,129 3 1,763 Accounts Receivable: ,
Accrued Interest - 65 59 '
Customers 1,802 1,698 l
Less: Allowance for Doubtful Accounts.- (102) (105) )
Total Current Assets. -_
3,894 3,415 i
Restricted Assets:
Cash and Cash Equivalents:
Revenue Bonds Renewal and Replacement..... -. 7,532 6,470 1 Sewer System Charges.. , 3.414 4,775 Other.. - 1,084 10.946 12.329 l l
Investments:
Sunshine State Construccon. - 1,342 l
l Revenue Bonds - 21,428 25,218 1 21,428 26,560
)
Receivables:
Accrued interest Receivable._
Sewer System Charges..
130 110 )
, 427 418 i Other.. . 387 344 944 872 Tota! Restricted Assets . . . _ _ 33,318 39,761 Other Assets-l Unamoritzed Bond issue Cost... 446 275 Total Other As* 446 275 i Fixed Assets:
l i Fixed Assets . 157,807 150,276 Less: Accumulated Depreciaton.. (34,748) (31,239)
? Construccon in Progress... 13,275 9,992 Total FImed Assets. . . . . . 136.334 129,029 Total Assets . ...~ . -... . . .. - ..~... ... 5 173.992 5 172,480 i
i I
The accompanying notes are an integral part of these financial statements.
D-25
)
I CITY OF TALLAHASSEE, FLORIDA SEWER FUND ,
BALANCE SHEET (in thousands)
(Continued)
September 30 1995 1994 LIABluTIES AND FUND EQUITY Current Liabilities:
Accounts Payable $ 188 8 155 Customer Contracts Payable 800 1,100 Accrued Leave 465 456 Total Current Listelles __ 1,453 1,711 Payable from Restricted Assets:
Retainage and Accounts Payable 1,341 1,546 Total Payable from Restricted ^-- " 1,341 1,546 j Other Llatetles:
Loan from other Funds.- -- 5,305 5,544 Customer Contracts Payable 1,823 1,490 Accrued Leave 427 411 Bonds Payable 63,700 64,087 Lees: Bond Discount..-- (248) (980)
Deferment of Loss on Ear 1y Retirement of Debt... (3,356) -
Total Other Liabilities _ .. _ 67.651 70.552 Total Liabilities _ 70.445 73,809 Fund Equity: ,.
Contnbuted Capital.. 17,268 17,873 Retained Eamings:
Reserved for:
Revenue Bonds-- 5,941 5,940
)
Other- 1,142 1,078 :
Revenue Bonds Renewal and Replacement- 7,595 5,870 Sewer System Charges. 4,453 5.234 Total Reserved . . 19,131 18,122 Unreserved.. . 67.148 62.676 Total Fund Equity 103.547 98.671 Total Liabilities and Fund Equ6tv . . 5 173.992 5 172,480 The accompanying notes are an integral part of these financial statements.
D-26 v - - - - - ..-> ,- - __-__
CITY OF TALLAHASSEE, FLORIDA l
SEWER FUND l STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS (in thousands)
Fiscal Year Ended September 30 ;
1995 1994 j Operating Revenue:
Charges for Services:
Residential Sa'w - 5 11,033 5 10,504 Commercial and inAmtrial Sales - 10,012 9,501 j Sales to Other Funds.. 186 166 l Surcharge-- 365 353 l l Tappng Fees - 121 138 Other- 1,813 1,454 Total Operating Revenues __ 23.530 22.116 i .
! Operating Expenses: , {
Personal Services.--
6,738 6,292 Materials and Supplies.. 1,782 1,793
. Contractual Services.. 5,273 5,290 Other Expenses.. 3,700 3,657 li
! Less: Applied Equipment Charges.- (3) (11)
Depreciation --
3,600 2,467 Amortsation.. 107 79 Total Operating Expenses _._.- 21.197 19,567 Operating income _ 2,333 2,549 Nonoperating Revenues (Expenses):
Interest Revenue.. 2.014 608 l
Gain on Sale of Surplus Property. 7 -
Other Revenue.; 4,811 4,887 Interest Expense.. (3,248) (1,082) l l Other Expenses.- -
(162) I Total Nonoperating Revenues (Expenses) 3.584 4,251 l
l Income Before Operating Transfers. 5,917 6,800 I l l l
l Operating Transfers in (Out):
Operating Transfers in.. 4 -
l Operating Transfers Out... . (945) (879)
Net income _ . . _ . 4,976 5,921 I a
(! Disposition of Not income:
l Depreciation on Contnbuted Assets.. 649 648 Not increase in Retained Eamings.. ._ 5,625 6,569 Retamed Esmengs - October 1.. 80,798 74,229 I
l Residual Equdy Transfer Out... (144) -
Retained Eamings. September 30. - __ $ 86.279 $ 80.798 l
l The accompanyng notes are an integral part of these financial statements.
r I D-27 l
-- 9
CITY OF TALLAHASSEE, FLORIDA SEWER FUND STATEMENT OF CASH FLOWS (in thousands)
Fiscal Year Ended September 30 1995 1994 increase (Decreas6 in Cash and Cash Equivalents:
Cash Flows fron Operating Activities:
Cash ReccW9d from Customers.. $ 23,273 $ 21,761 Cash Received from Other Funds.. 186 166 Other 1,186 893 Cash Payments to Suppliers for Goods and Services.. (6,588) (7,311)
Cash Payments to Employee s for Services.. (6,713) (6,222)
Payments to Other Funds.. (4.140) (3.408)
Not Cash Provided by Operating Activities . 7.204 5.879 Cash Flows from Noncapital Financing A'ctivities:
{
Operatng Transfers in from Other Funds . 4 a Operatng Transfers Out to Other Funds. (945) (879)
Not Cash Used for Noncapital Finaincing Acevities _ (941) (879)
Cash Flows from Capital and Related Financing Activities:
Proceeds from Sale of Bonds 30,828 26,150 Systems Charges . 3,625 3,832 Acquisition and Construction of Capital Assets (10,095) (6,029)
Residual Equity Transfer Out. (144) -
Principal and Refunding Payments.. (34,571) (1.919)
Repayment of Loans from other Funds - (239) -
Interest Paid. (4.017) (2,772)
Net Cash Provided by (Used fer) Capital and Related Financing Activities - - . - _ .- (14.613) 19.262 Cash Flows from investing Activities:
Proceeds from Sale and Matunties ofInvestment Secunties.- 13,580 9,383 Receipts of interest on investments - 2,201 683 Purchase of investment Secuntos . (8.448) (31.294)
Net Cash Provided by(Used for) Investing Activities - 7.333 (21.228)
Net increase (Decrease) in Cash and Cash Equivalents.. (1,017) 3,034 Cash and Cash Equivalents - October 1.. .. 14.092 11.058 Cash and Cash Equivalents - September 30 . $ 13.075 5 14.092 Classified As:
Unrestricted Assets.. $ 2,129 5 1,763 ,
Restricted Assets. 10.946 12.329
. $ 13.075 $ 14.092 Reconciliation of Operating income to Net Cash Provided by Operating Acevities:
Operating income.: $ 2,333 $ 2,549 Adjustments to Reconcile Operating income to Not Cash ,
Provided by Operating Activities:
Depreciation. 3,600 2,467 Amortization.. 107 79 Provision for Uncollectbie Accounts.. (3) 33 Other.. 1,186 893 Change in Assets and Liabilities:
increase in Accounts Receivable.. (104) (189)
Decrease in Other Accounts Receivable.. (6) -
Increase (Decrease)in Accounts Payable.- 66 (23)
Increase in Accrued Leave.. 25 70 Total Adjustmonts .. . . . . ...... 4,871 3.330 Net Cash Provided by Operating Activities . 5 7.204 -
5 5.879 The accompanying notes are an integral part of these financial statements.
D-28 l
l
l l
CITY OF TALLAHASSEE, FLORIDA l SEWER FUND SCHEDULE OF OPERATING EXPENSE (in thousands)
Fiscal Year Ended September 30 1995 1994 Administrative and General:
Personal Services.. $ 1,015 5 792 Contractual Services.. 2,047 1,871 Materials and Supplies.. 20 18 Other.. 3.667 3.623 6.749 6.304 Treatment Plants: 'o Personal Services.. 2,647 2,512 Contractual Services.. 2,019 2,182 j Materials and Supplies.. 912 986 I Other. 16 16 5.594 5.696
, Water Quality Lab:
Personal Services.. 717 683 j Contractual Services 64 44 Materials and Supplies.. 70 75 Other.. 12 9 i 863 811 I Sewer Collection:
Personal Services.... .. 1,682 1,684 Contractual Services.. 567 648 l Materials and Supplies. 607 570 i Other.. 4 7 2.860 2,909 i l
TVinspection:
Personal Services.- 210 201 Contractual Services.. 45 39 Matenals and Supplies.. 19 14 Other.. . 1 1 275 255 Pumping Stations:
Personal Services.. 467 420 Contractual Services.. 531 500 Materials and Supplies.. 154 130 Other.. - 1 1,152 1.057 Less: Applied Equipment Charges.. (3) (11) l l Depreciation.. 3,600 2,467 Amortcation.. 107 79 Total Operating Expense. ................S 21,197 $ 19.567 The accompanying notes are an integral part of these financial statements.
D-29
CITY OF TALLAHASSEE, FLORIDA SEWER FUND REGULATORY SCHEDULE OF OPERATING EXPENSE (in thousands)
Fiscal Year Ended September 30 1995 1994 Production:
Operstng.. 5 4,145 5 4.474 Maintenance.. . 1,105 1,002 Transmission:
Operating.. 542 405 Maintenance.. 211 191 Distribution:
Operating.. ...a. 2,867 2,839 Maintenance.. 81 248 Administrative 3,715 3,135 Automotive Equipment Expense - 1,026 1,003 Less: Applied Equipment Charges.. (3) (11)
Depreciation... 3,600
- 2,467 Amortization.. 107 79 Customer Accounts Expense.. . 2.273 2,202 Other.. 1,528 1,533 Total Operating Expense 5 21,197 $ 19,567 The above schedule is presented in accordance wth the Uruform System of Accounts for Class A and B Water Utdeos promulgated by the National Associaton of Regulatory Utdity Commissioners.
The accompanying notes are an vitegral part of these financial statements. ]
D-30 !
l
. 1
CITY OF TALLAHASSEE, FLORIDA WATER FUND BALANCE SHEET (in thousands)
~
September 30 1995 1994 ASSETS
.- Current Assets:
Cash and Cash Equivalents.. S 909 8 804 Accounts Receivable:
Accrued interest. 18 18 Customers.- 1,574 1,306 Less: Allowance for DoubtM Accounts.. (118) (105)
Total Current Assets _ _ ._ _ 2.383 2,023 A Restricted Assets:
2 Cash and Cash Equivalents:
Revenue Bond Construchon 1,894 263 Revenue Bond Renewal and Replacement... 8,849 7,911 Water System Charge = 3,959 4,435 .
Other - 618 689
, 15.320 13.298
. Investments:
Sunshme State Construction.. - 861
'- Revenue Bonds.- 950 943 Revenue Bonds Construction.. 201 287 1,151 2.091 Recewables Accrued interest . 155 125 Water Sys+em Char 9es.. .. 97 97 252 222 1
Total Restricted Assets _ 16.723 15.811 Other Assets: .
I Unamortized Bond issue Cost... 70 72 Total Other Assets 70 72
, Fixed Assets:
l Fixed Assets.- 71,060 66,043 i Less: Accumulated Depreciabon.. (18,765) (17,016)
Construction in Progress.. 4.590 5.337 Total FImed Assets. . 56,885 54.364 Total Assets _ . . . _ ._ 5 76.061 5 72.070 1
/
The accompanying notes are an integral part of these financial statements.
D-31
CITY OF TALLAHASSEE, FLORIDA WATER FUND BALANCE SHEET (in thousands)
(Continued)
September 30 1995 1994 LIABILITIES AND FUND EQUITY Current Liabilities:
Accounts Payable.. .. 8 134 5 139 Customer Contracts Payable.. 500 500 Otility Depoaits Payable.. 283 294 Accrued Leave.. 185_ 175 Total Current Liabilities. . 1,102 1,108 Payable from Restricted Assets:
Retainage and Accounts Peyeble 519 378 Total Payable from Restricted Assets. 519 378 .
Other LlabHities:
Loan from other Funds... .. 5,203 , 5,455 Customer Contracts Payable.. 1,107 1,142 Accrued Leave.. 177 187 Bonda Payable.. 11,105 9,412 Less: Bond Discount... (9) (188)
Deferment of Loss on Earty Retirement of Debt (723) -
Total Other Liabilities. _ 18.880 18.006 Total Liabilitlea 18.481 17,494 Fund Equity:
Retained Eamongs Reserved for-Revenue Bonds Renewal and Replacement... 8,878 7,779 Water Line Systems Charge.. 4,091 4,558 Other.. 1,508 1,830 Total Reserved _ . _ _ 14.477 13,985 Unreserved.. 43,103 40.811 Total Fund tiqu4ty . 57.580 54,578 Total Liabilities and Fund Equity 5 78.081 5 72,070 I
The accompanying notes are an integral part of these financial statements.
D.32
CITY OF TALLAHASSEE, FLORIDA WATER FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS (in thousands)
Fiscal Year Ended September 30 1995 1994 Operating Revenue:
Charges for Services:
Residential Sales.. 5 8,555 5 8,085 Commercial and industrial Sales... 5,312 5,133 Sales to Other Funds.. 341 385 Surcharge.. 1,006 945 Tapping Fees.. . 907 797 Late Fees.. . .c.. . 60 71 initiating Service.. 484 482 Rentals.. .
53 42 '
Cut. ins and Cut-fees.. 446 269 Other.. 471 914 Total Operating Revenues 17,635 17,123 Operating Expenses:
Personal Services.. 3,329 3,328 Materials and Supplies.. . . . . 520 473 Contractual Services.. 4,708 4,326 Other Expenses.. 3,234 1,745 Less: Applied Equipment Charges.. (70) (6)
Depreciation... 1,758 '. 1,256 Amortizacon.. 21 20 ,
Total Operating Expenses . ._ 13.500 11,142 Operating income._ e. _ 4,135 5.98i Nonoperating Revenues (Expenses):
Interest Revenue.. 931 773 Gain / (Loss) on Sale of Surplus Property.. , (9) 1 Other Revenue.. 1,788 1,368 Interest Expense.. (464) (396)
ODer Expenses.. .. (393) (48)
. Total Nonoperating Revenues (Expenses) . .. .. ..-... .. 1,853 1,698 Income Before Operating Transfors. . . 5,988 7,679 r
Operating Transfers in (Out):
Operanng Transfers in.. 3 -
Operanng Transfers out... (2.895) (2.783) ,
Net income.. . .. . . 3,096 4,896 Retained Earrungs . October 1.. . 54,578 49,680 Residual Equrty Transfer Out... (92) -
Retained Eamings - September 30.. .. . . . $ 57.580 $ 54.576 ,
l The accompanyng notes are an integral part of these financial statements.
D-33
CITY OF TALLAHASSEE, FLORIDA WATER FUND STATEMENT OF CASH FLOWS l (in thousands)
Fiscal Year Ended September 30 1995 1994 increase (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operaung Activities:
Cash Receked from Customers._ $ 17.031 5 16,752 Cash Received from Other Funds.. 341 385 other._ 563 374 Cash Payments to Suppliers for Goods and Services.. (5,790) (3,686)
Cash Payments to Employees for Services- (3,314) (3,311)
Payments to Other Funds._ (2,640) (2,898)
NotCash Provided by Operating Activities - _ 6,191 7,616 4 Cash Flows from Noncapital Financing Activttles: l Operating Transfers in From Other Funds-- 3 -
Operating Tra nfers Out to Other Funds (2,895) (2,783)
Not Cash Used for Noncapital Financing
- 4tivities _ _ (2,892) (2.783)
Cash Flows from Capital and Related Financing Activities:
Froceeds from Sale of Bonds - 6,690 948 l fiystem Charges - 832 946 l Acqueton and Construccon of Capital Assets. (3.946) (5,134)
Residual Equity Transfer Ot* (88) -
Repayment of Loans (252) (282)
Principal and Refunding Payments._ (5,721) (213)
Interest Paid- (528) (741)
Net Cash Used for Capital and Related Financing Ac"-/"r (3,013) (4,476)
Cash Flow from investing Activities:
Proceeds from the Sale and Matunees of Investment Secunces 2,538 1,768 Receipt of Interest income on investment.- 901 700 Purchase of investment Secunces (1,598) (1,987)
Net Cash Provided by investing Activf0es _ _ 1,841 481 Net increase in Cash and Cash Equrvaients.. 2,127 838 Cash and Cash Equivalents - October 1.. 14.102 13.264 )
Cash and Cash Equivalents - September 30 S 16.229 5 14,102 Classifled As:
i Unrestncted Assets S 909 5 804 Restricted Assets - . . . . . 15.320 13,298
$ 16.229 5 14,102 Reconciliation of Operating income to Net Cash Provided By Operating Activities:
Operating income.. . . . S 4,135 5 5.981 Adjustment to Reconcile Operating income to Not Cash Provided By Operating Activities:
Depreciation.. 1,758 1,256 Amortization.. . 21 20 Provision for Uncollectible Ai: counts.. 5 53 Other.. 563 -
374 ,
Changes in Assets and Llabilities:
Increase in Accounts Receivable._ (255) (14)
Increase (Decrease)in Accounts Payable.. (5) 1 Decrease in Utility Depossts Payable.. (11) (72)
Increase (Decrease)in Accrued Leave.. (20) 17 Total Adjustments .. .
2,056 1,635 Net Cash Provided by Operating Activities.. . . S 6,191 $ 7,616 The accompanying notes are an integral part of these financial statements.
D-34 I l
_ -_--_-________________________________________________________________________________________]
CITY OF TALLAHASSEE, FLORIDA WATER FUND SCHEDULE OF OPERATING EXPENSE (In thousands)
Fiscal Year Ended September 30 1995 1994 Administradve and General:
l .- Personal Services.. 5 573 $ 745 Contractual Services., 1,861 1,648 Materials and Supplies.. . 6 6 Other Expenses.. 3.225 1,738 5.665 4,137 Supply:
Personal Services.- 433 438
, Contractual Services.. 1,690 1,677 Matenais and Supplies.. . 76 < 79 other Expenses.- 2 2 1 2.201 2,195 i
- Transmission and Distribudon:
Personal Services.. ..... 2.323 2,145 Contractual Services.. 1,157 1,001
, Matenais and Supplies.. 438 388 Other Expenses.. 7 6 3.921 3.540 Less: Applied Equipment Charges : (70) (6)
Depreciation Expense.. 1,758 1,256 Amortcaton Expense.. 21 20 Total Operaung Expense . $ 13.500 5 11,142 L
, WATER FUND
, t RF.GULATORY SCHEDULE OF OPERATING EXPENSE (in thousands)
Fiscal Year Ended September 30 1995 1994 Producson:
- . Operating.. $ 1,514 $ 1,993 Distribudon
'- Oparating.. . . . . 1,549 1,249 Maintenance.. 1.132 989 Administratve.. 1,936 1,891 Automowe Equipment Expense.. 708 765 Less: Applied Equipment Charges.. (70) (6)
Depreciaton.. 1,758 1,256 Ambrt2aton.. 21 20 Customer Accounts Expe,nse.. 2,325 2,1P6 Other.. 2.627 799 Total Operaung Expense . _. _ $ 13.500 5 11.142 The above schedule is presented in accordance with the Uniform System of Accounts for Class A and ,
j B Water Utlines as promulgated by the Nabonal Associabon of Regulatory Utility Commissinners. l l
l l l i
l The accompanying notes are an entegral part of these financial statements.
D-35
CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND l BAl.ANCE SHEET {
(in thousands)
September 30 l 1995 1994 ASSETS Current Assets:
Cash and Cash Equivalents . $ 1,473 $ 1,666 Accounts Receivable:
Accrued interest Receivable.-. 15 13 Customers.. 556 316 Less: Allowance for Doubtful Accounts. (28) (22)
Total Cutrent Assots . . . . 2.016 1,973 Restricted iWets: 2 Cash and CA Equivalents:
Revenue Bonds Onnstrucdon.. 1,794 2,559 Renewal and Replacement... 2,893 1,988 ,
'% venue Bonds Debt Servce.. 2,321 815 Other Construebon... 1,563 3.011 8.571 8.373 investments:
Revenue Bonds Reserve..
1,170 1,170 1,170 1,170 Account Receivable:
Accrued interest Receivelia., 85 73 Due from Other Govemments: '
Construction. - - 692 Renewal and Replacement... 476 -
Other . . 103 871 579 1.563 Total Restricted Assets. . .. . . . .
10.405 11,179 Other Assets:
Unamortized Bond issue Cost... 331 356 ,
Total Other Assets . 331 356 Fixed Assets:
Fixed Assets. 66,251 65,652
- Less: Accumulated Depreciation.. (16,783J (15,240)
Construction in Progress.. 9.257 7.014 Total Fixed Assets . . . . . .. 58.725 57,426 Total Assets.... .. . . . .. . 5 71.477 $ 70.934 The accompanyng notes are an integral part of these financial statements.
D-36
l CITY OF TALLAHASSEE, FLORIDA MRPORT FUND t i
BALANCE SHEET (in thousands)
(Continued)
September 30 i 1995 1994
- , LIA81UTIES AND FUND EQUITY Current Liabilities
l Accounts Payable . , 5 409 5 403 Accrued Leave.. - 126 111 Prepaid Fees Credit Payable.. 687 549 Due to Other Funds.. 73 65 1 Total Current Liabilities _ - 1.295 1,128 Payable From Restricted Assets:
Deferred Revenue.. . 2 -
, Retainage and Accounts Payable.. 227 1.326 l
Total Payable from Restricted Assets . 229 1.326 l
Other Llabilities:
Loan from Other Funds.. 3,375 3,375 ,
Accrued Leave.. 218 226
., Bonds Payable.= 16.595 16,865 Less: Bond Discount... (179) (185)
Advances from Other Funds.. 1,155 1,289 Total Other Liabilities , 21,164 21,570 Total Liabilities._ _ _ . 22.688 24,024 Fund Equity:
Contnbuted Capital 38.715 36.782 Retained Entmngs:
- Reserved for.-
, Revenus Bonds Debt Service.. 2,319 791 Revenue Bonds Reserve.. 1,168 1,168 Revenue Bond Renewal and Replacement... 1,599 1,700 Total Reserved _ 5,086 3,659 Unreserved.. 4.988 6.469 Total Fund Equity - 48,789 46,910
, Total Llabilities and Fund Equity $ 71.477 5 70.934 l
l l
t
(
I The accompanying notes are an integral part of these financial statements.
D-37
CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND STATEMENT OF REVENUES, EXPENSES AND CHANG ES IN RETAINED EARNINGS (in thousands)
For Fiscal Year Ended September 30 1995 ,,
1994 Operadng Revenue:
Charges for Services:
Landing and Tie Down Fees., . $ 147 3 139 Rentals.. .. 6,437 5,980 ;
Other... . 39 54 Total Operaung Revenues. . .- m. 6.623 6.173 Operating Expenses:
Personal Services.. 2,013 1,845 Materials and Supplies.. ... 645 463 Contractual Services.. . . . 1,859 1,794 Other Expenses.. 238 444 Depreciaton.. .. 1,980 1,722 Amortization.. _
32 23 Total Operaung Expenses. ... . . 6.767 -
6.291 Operaong Loss .. . ... (144) (118)
Nonoperaung Revenues (Expenses):
Interest Revenue.. 463 139 Other Revenue.. 29 375 Interest Egense.- (1,242) (948)
Other Expense.. (416) (300)
Total Nonoperating Revenues (Expenses) _ (1,166) (734)
Loss Before Operaung Transfers (1,310) (852)
Operating Transfers:
Operating Transfers in . -
155 Operating Transfers Out.-- (6) (37)
Net Loss . (1,316) (734)
Disposidon of Net Loss:
Depreciation on Contnbuted Assets., 1,348 1,144 Net increase in Retained Esmings .. 32 410 Retained Earrungs - October 1.. ,
10,128 9,718 Residual Equity Transfers Out... (86) -
Retained Earnings - September 30 . ... . ~. $ 10.074 $ 10.128 The accompanying notes are an integral part of these financial statements.
D-38
I l
1 CITY OF TALLAHASSEE, FLORIDA l AIRPORT FUND STATEMENT OF CASH FLOWS l (in thousands) j FiscalYear Ended September 30 j 1995 1994 increase (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operating Activities:
,, Cash Received from Customers.- S 6,535 5 6,279 i Other... . (387) 75 Cash Payments to Suppleers for Goods and Services.. (2,327) (2,481)
Cash Payments to Employees for Services.; (2,006) (1,818)
. Payments to Other Funds (409) -
l Net Cash Provided by Operating Act""r . 1,406 2.055 i Cash Flows from Noncapital Financing Acevities:
Operahng Transfers in from Other Funds - - 155 Operahng Transfers Out to Other Funds.- (6) (37)
Not Cash Provided by (Used for) Noncapital Financing Activities - (6) 118 Cash Flows from Capital and Related Financing Acevhies:
Capital Grants Received. . 4,863 3,669 l' Advances from Other Funds.. - 3,255 Repayment of Capdad Advances.. (134) (3,391)
Acquebon and Construchon of CLpital Assets (5,031) (3,628)
Reesdual Equity Transfer OW - (30) -
l .
Proceeds from Sale of Bonds... - 5,195
!< interest Paid. - . - (1,353) (1,279) j* Pnneipal and Refunding Payments. (270) (255) l Net Cash Provided by (Used) for Capital and Related Financing Act""- ~ g ._. (1.955) 3,566 l
I Cash Flows from investing Activities:
Receipts of interest on investments. 560 106 Not Cash Provided byinvesting Acevities __ 560 186
'f Not increase in Cash and Cash Equivalents.-
Cash and Cash Equivalents . October 1.- 10.039 5 5,925 4,114 Cash and Cash Equivalents - September 30 5 10.044 5 10.039 Classiflod As:
Unrestncted Assets.- 5 1,473 5 1,666 i
Restncted Assets.- 8,571 8.373 -
S , 10.044 5 10.039 Reconciliation of Operating Loss to Not Cash
- Provided by Operating Activities
Operahng Loss.. 5 ( 144) 5 ( 118)
Adjustments to Reconcile Operating Loss to Not Cash Provided by Operating Activities:
Depreciation.- 1,980 1,722 l
Amortzation.- 32 23 Other-- (387) 75 Change in Assets and Liabilities:
(Increase) Decrease in Accounts Recervable.. (236) 60 Decrease in Due from Other Funds.. - 6 increase in Accounts Payable.. 6 220 increase Deferred Revenue _ 2 -
Increase in Due to Other Funds.. 8 6 increase in Accrued Lesve.. 7 27 increase in Prepaid Fees Crodet... 138 34
. Total Adjustments _ . _ . 1.550 2.173 Not Cash Provided by Operating Acevities _ S 1.406 5 2.055 f
! The accompanymg notes are an integral part of these financial statements.
D-39
CITY OF TALLAHASSEE, FLORIDA AIRPORT FUND l SCHEDULE OF OPERATING EXPENSE l (in thousands)
I Fiscal Year Ended September 30
(
l 1995 1994 Administrative and General:
Personal Servces.. $ 463 5 372 Contractual Services.. 825 911 Matenais and Supplies.. 61 276 Other Expenses.. 238 442 1,587 2.001 l Public Safety Fire:
Personal Services.; 401 419 l
l Contractual Sonnees.. 88 51 Materials and Supplies.. 7 6 Other Expenses.. - 2 496_ 478 Airport Patrol:
Personal Services.. 433 395 Contractual Servces . 19 16 l Materiais and Supplies. 4 4
. 456 415 Building Maintenance:
Personal Services.. 307 194 Contractual Service.s.. 669 674 Materials and Supplies.. 281 59 l 1.257 1,027 j Base Maintenance:
Personal Servces.. 409 365 l Contractual SeMees.. 258 142 Materiais and Supplies.. 292 118 l
959 625 i Other:
Deprsciation.. 1,980 1,722 i Amortization.. . 32 23 1
2.012 1.745 Total Operating Expense . . . 5 6.767 5 *6.291 l
l The accompanying notes are an integral part of these financial statements.
D-40
l CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUND BALANCE SHEET (in thousands) t September 30 l 1995 1994 l
ASSETS Current Assets: )
Cash and Cash Equivalents 5 776 8 287 Accounts Receivable:
Accrued interest Receivable.. 8 6
, Customers... 195 120 )
l Other 774 721 1 l Less: Allowance for Doubtful Accounts.- (6) (4)
Irwentory-FossN Fuet.. 19 12 l' Other. 583 540 l Total Current Assets _ 2.349 1,682 i
Fixed Assets:
Fixed Assets . 9,196 17,704
, Less: Accumulated Depreciate.. (2,473) (5,564)
Constructs in Progress.. 3.088 2,938 Total Fixed Assets . . 9,811 15.078 Total Assets - 5 12,160 8 16,760 l' LIABILITIES AND FUND EQUITY Current Liabilities:
I* Accounts Poyable.. $ 133 $ 160 l Accrood Leave.. 241 222 l Due to Other Funds. 4 4 l
- .- Total Current Liabilities _ . 378 386
! Othee Liabilities: 1 Advance from Other Funds.. 603 -
Accrued (eave.. 132 120 l I
i Total Other i tahiuttaa . . . . . . . . . . 735 120
' ~
Total Lia!'"^"-- 1,113 506 Fund Equity:
! Contributed Caprta!.. 8,637 13,829 Retained Esmengs:
Reserved for Projects.. .. 289 408 Unreserved... 2,121 2,017 Total Fund Equtty. .: . . . . . 11.047 16.254 Total Liabilities and Fund Equity . 5 12.160 5 16.760 l
4 I
I D-41
.. . . _ - - = - _ = . - . - ~ __--. . _ _ _ . - - - _ - - - . . .-. .-
CITY OF TALLAHASSEE, FLORIDA l TALLAHASSEE TRANSIT FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS !
(in thousands) l Fiscal Year Ended September 30 I 1995 1994 Operating Revenue:
Transportation Fees.. 5 2,035 $ 1,839 TotalOperating Revenues. . 2,035 1,839 Operating Expenses: , l Personal Services . 4,797 4,531 ;
Matenals and Supplies .. 754 919 Contractual Services.. 1,617 1,336 Other Expenses.. 464 537
- . Depreciation.. 379 671 Total Operating Expenses - 8.011 7,994 Operating Loss._ _ (5,976) (6,155)
Nonoperating Revenues (Expenses): l Grant Revenue.. 1,824 1,463 Other Revenue.. . 49 14 Other Expenses.. (132) (281)
Total Nonoperating Revenues (Expenses) _ 1,741 1,196 ,
Loss Before Operating Transfers. (4,235) (4,959)
Operating Transfers in (Out):
Operstmg Transfers in. 4,015 7,021 Operating Transfers Out... (48) (786)
Not income (t. ass) _ (268) 1,276 Disposition of Not income:
Increase m Contnbuted Capital.. -
(158) i Depreciabon on Contnbuted Assets.. 253 435 Net increase (Decrease) in Retained Eamings (15) 1,553 Retamed Eamings - October 1.. 2.425 872 Retained Eamings September 30 _ _ $ 2,410 5 2.425 l
e D42
1 CITY OF TALLAHASSEE, FLORIDA l TALLAHASSEE TRANSIT FUND l STATEMENT OF CASH FLOWS ,
! (in %ousands) 1 l
, FiscalYear Ended September 30 i
1995 1994 increase (Decrease) in cash and Cash Equivalents:
Cash Flows from Operating Activities:
l Cash Received from Customers.. , 5 1.960 5 1,864 l Other.-. . . . 521 6 l Cash Payments to Suppliers for Goods and Services.. (1,433) (1,436) l Cash Payments to Employees for Services.. (4,754) (4,509)
Payments to Other Funds.- (1,494) (1,343)
Not Cash Used for Operating Activities _ (5.200) (5,418)
! Cash Flows from Noncapital Financing Activities:
Opere8ng Grants Received.- 1,717 1,393 ;
Operating Transfers in from Other Funds.... .. . 4,015 6,863
! s Operpting Transfer Out to Other Funds.. (48) (786)
Not Cash Provided by Noncapital Financing Activities 5.684 . 7,470 1
Cash Flows from Capital and Related Financing Activities:
Cap #tal Grents Received.. 153 125 Caprtal Contnbutions.. - 154 Acquisition and Construebon of Capital Assets.. (148) (2.809)
Not Cash Provided by (Used for) Capital and Related i : Financing Activitle* _ 5 (2,526)
Net increase (Decrease) in Cash and Cash Equivalents... 489 (474)
Cash and Cash Equivalents - Cetober 1-- 287 761 Cash and Cash Equivalents - September 30 S 776 $ 287
, Classified As:
Unrestncted Assets.. $ 776 $ 287 Reconciliation of Operating Loss to Not Cash Used For I Operating Activities:
. Operating Loss 5 ( 5,976) $ ( 6,155)
Adjustments to deconclie Operating Loss to Net Cash Used For Operating Activities:
Depreciation..- 379 671 Other.. . 521 6 Chacge in Assets and Llabilities:
(Increase) Decrease in Accounts Receivable.. . (75) 25 increese in inventory.. (50) (32)
Increase (Decrease)in Accounts Payable.. (30) 23 increase an Accrued Leave.. 31 44 Total Adjustmonts . .. 776 737 Net Cash Used For Operating Activities.. 5 ( 5.200) , 5 ( 5.418) i l
D-43
i I
CITY OF TALLAHASSEE, FLORIDA TALLAHASSEE TRANSIT FUNO SCHEDULE OF OPERATING CXPENSE (in thousandr,) f 1
Fiscal Year Ended September 30 1995 1994 l Administradve and General:
Personal Services.- 5 517 5 500 Contractual Services.. . 804 513 Materials and Supplies.. . 14 11 Other.. 454 523 l 1,589 1,547 Operadons:
Personal Services.. 3,419 3,203 Contractual Services., 983 795 Materials and Supplies.. 460 480 Other.. 4 11 4,866 4,489 ,
Maintenance:
Personal Services.. 86'1 828 Contractual Services.. 30 28 Materiais and Supplies.. 280 428 .
Other.. 8 3 1,177 1,287 Depreciation.. 379 871 Total Oruaung Expense . _ $ 8,011 S 7.994 i
D-44
CITY OF TALLAHASSEE, FLORIDA SOLID WASTE FUND 9
l BALANCE SHEET (in thousands)
September 30 1995 1994 ASSETS Current Assets:
Cash and Cash Equivalents.. 5 456 5 415 Accounts Receivable:
Accrued interest . . 7 4 Customers.. 1,245 1,028 Other.. . 12 62
,, Less: ABowance for Doubtful Accounts.. (91) (90)
Total Current Assets. ._ 1.629 1,419 Restricted Asse$s: i Cash and Cash Equivalents:
- Renewal, Replacement and improvement Fund.. 87 83 Operating Reserve.. . .
1,727 1,037 1,814 1,120 Account Receivable:
Accrued interest. 16 10 Total Restricted Assets _ 1,830 1,130 Fixed Assets:
l Fixed Assets . 2,447 2,441 Less: Accumulated Depreciation.. (1,796) (1,723)
Total Fixed Assets _ _ 651 718 i Total Assets. .- . . $ 4.110 5 3.267 i
l'
! LIABILITIES AND FUND EQUITY
{: Current Liabilities:
j; Accounts Payable.. 5 607 5 609 Accrued Leave.. 222 220
, Total Current Llabilities _ 829 829 Other Liabilities:
l Accrued Leave.. 316 320 Total Other Liabilities . . .. _
316 320 1 Total Llabilities.. . . . . . _ . - . 1,145 1,149 l
l Fund Equity: I Contnbuted Caprtal.. 789 788 Retained Esmings:
Reserved.; .. . 1,742 1,046 Unreserved.. 434 284 Total Fund Equity. .. . .. . .. 2.965 2.118 Total Llabillties and Fund Equity . $ 4,110 5 3.267 i i
l 1 .
D.45 i
CITY OF TALLAHASSEE, FLORIDA SOUD WASTE FUNO STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS (in thousands)
Fiscal Year Ended September 30 1995 1994 Operating Revenue:
Char 9es for Services:
Residential Collection.. . 5 6,899 3 7,026 Commercial Collection.- , 6,962 6,235 Recyclables Sales.. 594 209 Other.. 1 2 Total Operating f.evenues... . 14.456 13.472 Operating Expenses: ~
Personal Services. !. . . 3,466 7,222 -
Materials and Supplies.- 111 100 Contractual Services.. . 9,772 9,340 Other Expenses.. .. 126 115 Depreciation.. ... 75 62 Total Operatirig Expenses.. .
13.550 12.839 0perating income. _. 906 633 Nonoperating Revenues:
Interest Revenue.. 100 4 Other Revenues.. 12 149 1otal Nonoperating Rtevenues . . 112 153 income Before Operating Transfers -
1,018 786 Operating Transfers Out:
~
Operating Transfers Out... . (9) (6) l Notincome . _ 1,009 780 i Retained Eammgs - October 1.. . 1,330 550 Residual Equity Transfer Out... (163) -
Retained Earnings September 30 . . 5 2,176 5 1,330 e
D-46 1
l
. l l
CITY OF TALLAHASSEE, FLORIDA SOUD WASTE FUND STATEMENT OF CASH FLOWS (in thousands) l* Fiscal Year Ended September 30 l
l 1995 1994 l Increase (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operating Activities:
l Cash Received from Customers . $ 14,289 $ 13,397 Other . 5 135 Cash Payments to Suppliers for Goods and Services.. (7,734) (7,302)
Cash Payments to Employees for Services.. (3,468) (3,207) -
l Payments to Other Funds.. (2.276) (2.270)
! Net Cash Prov6ded by Operating Activities 816 753
- ,' Cash Flow from Noncapital Financing Activities
i Operstmg Transfers Out to Other Funds.- : .s.
(9) (6)
' Net Cash Used for Noncapital Financing Activities _ _ (9) (6)
, Cash Flows from Capital and Related Financing Activities:
Acquisibon and Construction of Capital Assets.. (9) (166)
Residual Equity Transfer out... (183) -
Net Cash Used for Capital and Related Financing Activities (172) (166)
Cash Flows from investing Activities:
Receipts of Interest on investments.. 100 4
, Not Cash Flows Provided byinvesting Activities . -. 100 4 l
Net increase in Cash and Cash Equivalents.. 735 585 Cash and Cash Equivalents - October 1- 1,535 950 l Cash and Cash Equivalents - September 30 -
5 2.270 5 1.535 1
Classified As:
Unrestricted Assets.. $ 456 3 415 Restricted Assets.. 1,814 1,120 5 2.270 5 1.535 Reconciliation of Operating income to Net Cash Provided by Operating Activities:
Operating income., .S 906 3 633 Adjustments to Reconcile Operating incorne to Net Cash Provided by 0"perating Activities:
! Depreciation.- . 75 62 Provision for Uncollectible Accounts., 110 104 Other., 5 135 ;
Change in Assets and Liabilities: l Increase in Accounts Receivable.. (276) (169) l Decrease in Accounts Payable.. (2) (19) !
Increase (Decrease)in Accrued Leave.. (2) 7 Total Adjustmonts. .- . . .. .. . (90) 120 Net Cash Provided by Operating Activities.. . . . S 816 5 753 I .
!I I*
l D-47
CITY OF TALLAHASSEE, FLORIDA SOUD WASTE FUND SCHEDULE OF OPERATING EXPENSE (in thousands)
Fiscal Year Ended September 30 1995 1994 Administrative and General:
Personal Services.. S 449 $ 394 Contractual Services.. 1,193 1,345 Matenals and Supplies.. 69 64 Other.. . 126 115 1.837 1.918 Residential Collection:
Personal Sennces.. 1,700 1,613 Contractual Services.. '. .. a .. 4,864 4,636
> ! Materials and Supplies.. ..,.. -
42 36 6.626 6.287 Commercial Collection:
Personal Services.. 1,317 1,215 Contractual Services.. 3.695 3.357 5.012 4.572 Depreciation.. 75 62 Total Operating Expense . _. . .. 5 13.550 5 12.839 t
S D.48
CITY OF TALLAHASSEE, FLORIDA ooLF CounSE FUND BALANCE SHEET (in thousands)
September 30 1995 1994 l
', ASSETS Current Assets:
Cash and Cash Equivalents.. 5 148 5 152 l Accrued interest . 1 1
!' inventory.. .
43 36 TotalCurrent Assets. 192 189
- l. ._
l Restricted Assets:
! Cash and Cash Equivaients: .
Renewal. Replacement and improvement..- 364 518 Accrued Interest Receivable:
- Renewal. Replacement and improvement... 4 4 l TotalRestricted Assets _ . . 368 522
.i
.l Fixed Assets:
[
i Fixed Assets.. 2.358 2,411 I, Less. Accumuisted Depreciaton.._ (652) (580) l Construction in Progress.. 204 53 I
Total Fixed Assets. _ 1,910 1,864 Total Assets . _. _ $ 2.470 5 2,595 LIABILITIES AND FUND EQUITY j Current Llabuities-Accounts Payable.. 5 28 5 28 Accrued Leave.. 42_ 38 l l Total Current Liabilities __ 70 66 i
g Payable from Restricted Assets.
Accounts Payable._ 2 -
l, Total Payable from Restricted Assets. . 2 -
l f
I: Other Liabilities: -
Accrued Leave.. 33 30 l
t
' Total Other Liabilities. . . - . . . . . 33 30 i:
Total Llabilities ... . . .. 105 96 Fund Equity:
Contnbuted Capital.. 1,492 1,492 l
Retained Eamings:
Reserved.. 366 522 Unreserved.. 507 485 Total Fund Equity . . . _ 2.365 2.499 Total Liabilities and Fund Equity . . 5 2.470 5 2.595 D-49 l.
l l
CITY OF TALLAHASSEE, FLORIDA GOLF COURSE FUND i STATEMENT OF REVENUES, EXPENSES AND !
CHANGES IN RETAINED EARNINGS j (in thousands) l i
Fiscal Year Ended September 30 1995 1994 Operating Revenue:
Charges for Services:
Greens Fees.. . 5 377 5 431 Golf Cart Fees.. 281 233 1 Pro Shop Sales.. 64 69 I Annual Golf Fees.. 31 24 DrMng Range Fees.. 26 28 Concessions.. . . 98 53 Other. 57 18 Total Operating Revenues. 934 856 Operating Expenses:
Personal Services . '
794 722 Materials and Supplies.. 203 192 Contractual Services.. 237 195 l Other Expenses.. 164 . 172 I Depreciation.. 105 _
79 !
Total Operating Expenses. . - . 1.503 1,360 l Operating Loss . (569) (504) 1 Nonoperating Revenues (Expenses):
Interest income.. . 25 23 Loss on Sale of Surplus Property.. (2) -
Total Nonoperating Revenues (Expenses) . _ 23 23_
Loss Before Operating Transfers .. _ . (546) (481)
Operating Transfers in (Out):
Operating Transfers in.. 502 867 Operating Transfers Out... . (2) (1)
Net income (Loss) . , ... ...
(46) 385 Retsened Earnings - October 1.. 1,007 622 Residual EquRy Transfer Out.. (88) -
Retained Earnings . September 30. . S 873 $ 1.007 D-50
1 CITY OF TALLAHASSEE, FLORIDA GOLF COURSE FUND STATEMENT OF CASH FLOWS (in thousands)
Fiscal Year Ended September 30 1995 ,
1994 increase (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operating Acevides:
- i Cash Received from Customers.. 8 934 8 856 Cash Payments to Suppliers for Goods and Services.. . . . (486) (494)
Cash Payments to Employees for Services.. (786) (727)
Payments to Other Funds.. (126) (99)
Not Cash Used for Operating Acevities. _ _ (464) (464)
Cash Flow from Noncapital Financing Acevities: c
,i operteng Transfers in from other Funds.. 502 867 .
Operating Transfers out to other Funds-- (2) (1)
Not Cash Provided by Noncapital Financing Activities 500 866 Cash Flows from Capital and Related Financing ActMeles:
l, Acquebon and Construction of Capital Assets (219) (274)
Not Cash Used for Capital and Related Financing ActMtles _ _._ (219) (274) li Cash Flows from invesdng Acevities:
Receipt of interest on investments. 25 18 Net Cash Provided byinvesong Activities.. . 25 18 Not increase (Decrease) in Cash and Cash Equivalents.- (158) 146 l
Cash and Cash Equivalents - October 1.- 670 5'> 4 l Cash and Cash Equivalents - September 30 5 512 5 M l! Classified As:
l' Unrestricted Assets.- 8 148 5 152
! Restncted Assets.- 364 -518 j 5 512 5 670 i Reconcillation of Operating Loss to Not Cash Used for Operating Activities:
Operanng Loss.. 5 ( 569) 5 ( 504) j Adjustments to Reconcile Operating Loss to Not Cash Used for Oberadng Activities:
Depreciation.. 105 79 Change in Assets and Liabilities:
(Increase) Decrease in inventory.. (7) 3 Decrease in Accounts Payable.. -
(39) j . Increase (Decrease)in Accrued Leave.. _
7 (3)
Total Adjustmonts ., 105 40 Net Cash used for Operating Acevities. . 5 ( 40 ') 5 ( 464) w I
e J 9 4
. D-51 l .
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0 0
e 9
e G
i INTERNAL SERVICE FUNDS I
Reading, Billing and Collection Fund-to account for the costs of the f~ City's reading, billing and collection services.
t
,. Information Systems Services Fund-to account for the costs of the j City's data processing operation.
,- Accounting Fund-to account:for the costs of the City's accounting
}
operation. ,
Central Stores Fund-to accent for the costs of the City's central stores ,
l operation.
l Purchasing Fund-to account for the costs of the City's centralized purchasing operation. !
)
l Garage Fund-to account for the costs of maintaining and operating the City's fleet management operation.
Human Resources Fund-to account for the costs of the City's employee relations operation.
1 I Pension Administration Fund-to account for the costs of the City's pension plan admmistrative operation.
l-Risk Management Fund-to account for the costs of the City's risk management operation.
1 Employee Healthcare Fund-to account for the cost of the City's self insured healthcare operation.
Communications Fund-to account for the costs of the City's radio and l telecommunications operation.
Internal Loan Fund-to account for loans received from the Sunshine
,! State Govemmental Financing Commission which in turn are loaned to other funds to provide financing for capital projects. , 1 1
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t CITY OF TALLAHASSEE, FLORIDA ,
INTERNAL SERVICE FUNDS ,
COMBINING BALANCE SHEET i E
September 3o,190s (in thousands)
Reeding information Billing and Systems Central CoRection Services Accounting Stores Purchasing Garage ;
ASSETS Current Assets:
Cash and Cash Equivalents... S 540 5 2.076 5 512 5 - 5 135 8 404 Accounts Receivable.. - - 1 - - 20 ;
Accrued interest . . 5 21 5 - 1 4 l Due from Other Funds - 57 - - - - -
i Depoests 7 - - - - -
Inventory . - 227 - 4.216 66 533 !
Total Current Assets _, 609 2.324 518 4.216 202 961 P.estricted Assets:
Cash and Cash Equivalents.. - 76 - - - 28,377 Accounts Receivable... - - - - - -
Accrued Interest. - - - - - 281 ,
Notes Receevable - - - - -
5 Due from Other Govemments.. - - - -
f Loans to Other Funds.- - - -
Total Restricted Assets._ - 76 - - - 28.663 Fixed Assets.. 220 9,671 91 330 103 58,891 Less: Accumulated Depreciation.. (133) (3.663) (55) (159) (54) (27,954)
Total Fixed Assets _ 87 6.008 36 171 49 30.937 Total Assets. _ 5 696 5 8.408 5 554 5 4.387 5 251 5 60.561 LIA51UTIES AND FUND EQUITY Current Liabilities.
Accounts Payable . $ 82 8 222 5 63 5 169 $ 23 $ 24 Accrued Leave.. 227 161 137 15 39 147 Lease Payable ..
Due to Other Funds. - - - 458 - -
Total Current Liabilities. _._ 309 383 200 . 642 62 171 Payable from Restricted Assets:
Claims Payable-- - - - - -
Loans Payable- - - - - -
Total Payable from ,
Restricted Assets. .. .
Other Liabilities:
Loan from Other Funds.. - 831 - - - -
Accrued Leave.. 186 272 138 9 25 192 Total Liabilities. _ 495 1.486 338 651 87 363 Fund Equity Contnbuted Capital.. 63 704 - - - 16,856 Retained Eamings:
Reserved for:
Debt Service.. . .;. . - - -
Fleet Management... - - - - - 28,657 Projects.. - 60 - - - -
insurance.. - - - -
Unreserved., 138 6.158 216 3.736 164 14.685 Total Fund Equity . 201 6.922 216 3.736 164 60.198
, Total Liabilities and Fund Equity . 5 696 5 8.408 5 554 5 4.387 5 251 $ 60.561 E-2
CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET S.piember 3o,199s (continued)
Pension Rsk Totals Human Admin- Mana9e- Employee Communi- Intemal September 30
, Resources istration m ent Healthcare cation Loan 1995 1994 5 361 5 112 5 79 5 - S 89 8 - 5 4,308 8 3,489
- - 64 24 - -
109 195 3 1 - - 1 -
41 33
,- - - - - 57 58
- - - - - - 7 8
- - - - - - 5.042 4.231
. 364 113 143 24 90 - 9,564 8.012 3,935 - 11,409 459 - 1,477 45,733 44,137
- - - - - 86 86 26 39 114 4 - 15 453 379
- - - - - 3,103 3,103 840
- - - - - - 5 1.582
- - - - - 17,857 17,857 19.663 3.974 - 11,523 463 - 22,538 87,237 66,627 80 1 1 - 305 - 69,693 44,108
! (42) (1) (1) -
(238) - (32,300) (20,029) 38 - - - 67 - 37,393 24,079 5 4.376 S 113 $ 11.666 $ 487 $ 157 $ 22.538 5 114,194 5 98,718
. 1 S 29 5 36, 5 52 $ 28 3 8 $ - S 736 8 949 101 11 7 - 44 - 889 840
- - 31
- - - - - - 458 -
. 130 47 59 28 52 - 2,083 1,920
- - 7,700 281 - - 7,981 8,195
- - - - - 21,700 21,700 21,700
~
i - - 7,700 281 - 21,700 29,681 29,895
- - - - - - 831 1,172 103 13 2 - it - 951 905 233 60 7,761 309 63 21,700 33.546 33.792 6 - 894 - 130 - 18,653 8,488
- - - - - 838 838 . 742
- - - - - - 28,657 29,350 1,635 - - - - - 1,695 1,784 i
- 2,339 - 3,011 178 - - 5,528 4,030 163 53 - -
(36) - 25.277 20,532 i
, 4.143 53 3.905 178 94 838 80,648 64.926 5 4,376 5 113 5 11,666 $ 487 $ 157 5 22,538 5 114,194 5 98,718 i
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CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS (DEFICIT)
For the Fiscal Year Ended September 30,1995 (in thousands)
I Readmg information Billing and Systems Central Collection Services Accounting Stores Purchasing Garage ;
Cperating Revenues:
Charges for Serwce... S 7.724 5 8.443 $ 3.556 $ 5.471 5- 1.444 5 11,329 Tctal Operating Revenues 7.724 8.443 3.556 5,471 1.444 11,329 Cperating Expenses: ;
Personal Serwces 3,595, 2,881 2,159 228 , 660 2,275 !
Contractual Serwces. 3.111 2,832 1,282 5,201 533 4,435 Matenais and Supphes 464 412 15 3 69 89 ,
Other... 32 432 29 152 114 317 DIpreciation.. 20 489 8 8 9 4.795 Total Operating Expenses. _ _ 7.222 7.046 3.493 5.592 1,385 11.911 Cperating income (Loss) 502 1,397 63 (121) 59 (582) '
Non. operating Revenues (Expense):
interest Revenue.. - 1 - - - 1,542 ,
Gain (Loss) on Sale of Surplus Property... -
(2) - - - 122 Interest Expense- -
(41) .
Total Non. operating Revenues (Expense). -
(42) - - - 1.664 income (Loss) Before Operating (
Tr:nsfers. 502 1,355 63 (121) 59 1,082 Opirating Transf, ors in.. - 12 - - - -
Operstmg Transfers Out... . (464) (207) (294) - -
(4) 38 1,160 (231) (121) 59 1,078 Not income (Loss) ..
Disposition of Net income (Loss):
Depreciation on Contnbuted Assets.. 7 49 - - - 1,774 Not increase (Decrease)in Retained Ermings .. .. . 45 1,209 (231) (121) 59 2,852 Retained Esmings (Deficit)- October 1.. 109 5,100 447 3,859 105 40,490 Residual Equity Transfers-Out... (16) (91) -
(2) - -
RItained Eamings (Deficit). September 30 $ 138 8 6.218 $ 216 8 3.736 $ 164 $ 43.342 4
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CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS CDM81NING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS (DEFICIT)
For the Fiscal Year Ended September 30,1995 (Continued)
Pension Risk Totale Human Admin- Manage- Employee Communi- Intemal September 30 Resources istration ment Healthcare cation Loan 1995 1994
$ 4,302 3 351 3 4,425 5 904 5 455 $ - $ 48,404 6 45,453 4,302 351 4,425 904 455 - 48,404 45.453
,t 1,782 182 111 - 285 - 14,158 13,193 3
! 936 160 159 132 94 - 18,875 18,491
, 77 4 2 - 50 - 1,185 826
. 82 5 4,198 839 31 - 6,231 7,169 9 - - - 21 - 5,350 3,544 l
! 2,886 351 4,470 971 481 - 45,808 43,223 1,416 -
(45) (67) (26) - 2,596 2,230 163 * - 599 21 -
, 1,006 3,332 3,228 120 -
(910) (951) (700) 163 , - 599 21 - 96 2,501 2,528 i
i 1,579 - 554 (46) (26) 96 5,097 4,758 135 - - 92 - - 239 1,103 l (439) -
(3) - - - (1,411) (519) i I 1,275 - 551 46 (26) 96 3,925 5,342 j i .
l
. . - - - - - - 1,830 -
1 1,275 - 551 46 (26) 96 5,755 5,342 ;
2,865 53 2,546 132 (10) 742 56,438 51,096 (3) -
(86) - - -
(198) -
5 '4,137 $ 53 5 3,011 5 178 5 ( 36) $ 838 $ 61.995 5 56.438 i
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CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNOS COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1995 (in thousands)
Readog Information Billing and Systems Central Collection Services Account ng Stores Purchasing Garage increase (Decrease)in Cash and Cash Equivalents:
Cash Flows from Operating Activities: l Cash Received from Customers.. 5 - 3 - 5 - 3 - 5 - $ -
)
Cash Received from other Funds.. 7,723 8,433 3,557 5,476 1,444 12,858 Othe'= - - -
Cash Payments to Suppliers for Goods and Services.. (3,605) (3,869) (1,337) (5,621) (728) (4,856)'
Cash Payments to Employees '
for Services.. (3,596) (2,833) (2,148) (224) (659) (2,259)
Payments to Other Funds.. - - - - - -
Net Cash Provided by (Used for) Operating Activities. 522 1.731 72 (389) 57 5.743 Cash Flows from Noncapital Financing Activities:
- Operatmg Transfers in from Other Funds - ,12 - - - -
Operatng Transfers Out to other Funds.. (464) (207) (294) - -
(4)
Not Cash Flows Provided by (Used for) Noncapital Financing Acdvities _ _. .. . (464) (195) (294) - -
(4)
Cash Flows From Capital and Related Financing Activities:
Acquisrtion and Construcson of Capital Assets.. (1) (191) - -
(3) (6,726)
Residual Equrty Transfer... (16) (85) - - -
(5)
Proceeds from Sale of Property.. - - - - - 370 Payments on Caprtal Lease.. -
(31) - - - -
Repayments of Loans from Other Funds.. -
(341) - - -
Interest Paid.. -
(41) - -
Not Cash Used for Capital and Related Financing Activities. (17) (689) - -
(3) (6.361)
Cash Flows from Investing Activities:
Receipt of Interest on investments.. - 1 - - -
1.542 Net Cash Provided by investing Activities . ..
- 1 - - - 1,542 Net increase (Decrease)in Cash and Cash Equivalents.. 41 848 (222) (3C9) 54 920 Cash and Cash Equivalents .
October 1.. 499 1,304 734 389 81 27.861 Cash and Cash Equivalents-September 30.. .
. .-. S 540 5 2.152 $ 512 5 - S 135 5 28.781 E.6 i
CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS I For the Fiscal Year Ended September 30,1995
, (Continued) l Pension Risk Totals
- i. Human Admin- Manage- Employee Communi- Mtemal September 30 Resources istration ment Healthcare cation Loan 1995 1994 5 - 5 - 5 - 5 404 5 - 8 - S 404 $ 407 4,287 351 4,446 552 455 - 49,582 42,993 12 (1,128) (160) (4,618) (953) (172) (6) (27,073) (25,729)
! (1,773) (180) (109) -
(282) - (14,063) (13,111)
(516) (516) (709) l
- 1,386 11 (281) 3 1 (522) 8,334 3,863 135 - -
92 - - 239 1,103 (439)
(3) - - - (1,411) (519)
(304) -
(3) 92 - - (1,172) 584 l
(10) - - - - - (6,931) (4,520)
, (3) -
(86) - - -
(195) -
l - - - - - - 370 -
l (31) (33)
(341) (587)
(910) (951) (700) l' l'
(13) -
(86) - -
(910) (8,079) (5,840) e 163 - 599 21 - 1,006 3,332 3.228 163 - $99 21 - 1,006 3,332 3.228 l
1,232 11 229 116 1 (426) 2,415 1,835
- 3.064 101 11,259 343 88 1,903 47,626 45,791
. 112 5 11.488 5 459 5 89 $ 1,477 3 50,041 $ 47,626
.$ -- 4 296 5 E-7
CITY OF TALLAHASSEE, FLORIDA INTERNAL SERVICE FUNDS COM81NING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1995 (in thousands)
(Continued)
Reading information Billing and Systems Central Collection Services Accounting Stores Purchasing Garage Classified As:
Unrestricted Assets.. 5 540 $ 2,076 5 512 5 - 8 135 5 404 76 - - - 28,377 Restricted Assets.. -
3 540 $ 2.152 $ 512 S - 5 135 5 28.781 Reconciliation of Operating income (Loss) to Not Cash Provided by (Used for)
Operating Activities:
Operating income (Loss).. $ 502 5 1,397 5 63 5 ( 121) S 59 5 ( 582)
Adjustments to Reconcile Operating income (Loss) to Net Cash Provided by (Used for) Operating Activities:
Depreciation.. 20 489 8 8 9 4,795 Other.. -
Change in Assets and Liabilities:
(Increase) Decrease in ,
Accounts Receivable.. - - - - -
(4)
Increase (Decrease)in Other Accounts Receivable.. . (1) (10) 1 3 - 1,533 (Increase) Decrease in inventory.. -
(136) -
(696) (18) 39 increese (Decrease)in Accounts Payable.. 2 (57) (11) 413 6 (54) increase (Decrease)in Acen.Jd Leave.. (1) 46 11 4 1 16, Total Adjustments _ . 20 334 9 (268) (2) 6.325 Net Cash Provided by (Used for) Operating Activities .. . S 522 $ 1,731 $ 72 $ ( 389) S 57 $ 5.743
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CITY OF TALLAHASSEE, FLORIDA '
INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Ended September 30,1995 i j
(Continued)
Pension Risk Totals Human Admin- Manage- Employee Communi- Intemal September 30 Resources istration ment Healthcare cation Loan 1995 1994 5 361 3 112 5 79 5 -
S 89 5 - S 4,308 3 3,489 3,935 - 11,409 459 - 1,477 45,733 44,137 3 4.296 S 112 5 11.488 5 459 8 89 $ 1,477 3 50.041 S 47.626 S 1,416 5 - 3 ( 45) $ ( 67) $ ( 26) 5 - S 2.596 3 2,230
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21 - 5,359 3,544
- - - - - - - 12 l 1
- - 37 53 -
(61) 25 (89) l l
(15) -
(16) (1) -
(455) 1,039 (2,673) l (811) (529)
(33) 9 (259) 18 3 (6) 31 1,286 9 2 2 - 3 - 95 82 !
(30) 11 (236) 70 27 (522) 5,738 1.633 l
$ 1.386 5 11 5 ( 281) $ 3 $ 1 5 ( 522) $ 8.334 5 3.863 -
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TRUST AND AGENCY FUNDS Pension Trust Fund Dermed Benefit and Contribution Plan-The City Employees' Pension Plan is used to account for the accumulation of resources to be used for retirement annuity payments to City employees. i Expendable Trust Funds Deficiencies and Emergencies Fund-to provide for unforeseen expenditures of an emergency nature. l 1 Downtown Improvement Authority Fund-to account for the monies l appropriated to Downtown Improvement Authority, an spacy created ;
( by the Florida Legislature to regulate downtown growth.
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Railroad Fund-to account for the financial activities of the Railroad i l
Station, a joint venture created by the City and Leon County for the purpose of operating a railroad station in the City. i Nonexpendable Trust Fund Cemetery Perpetual Care Fund-to accumulate. resources for the perpetual maintenance of the City's cemeteries.
Scholarship Fund-to account for the monies appropriated to fund scholarships for high school students. ,
I t Agency Fund Deferred Compensation Fund-to account for assets held by the City as
! agent for City employees.
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CITY OF TALLAHASSEE, FLORIDA -
TRUST AND AGENCY FUNDS COMBtNING BAUutCE SHEET September 30,1995 lin thousands)
Pensson Nonexpendable Agency Trust Fund Expendable Trust Funds Trust Funds Fund Cay DeEcsencies Downtown Cemetery Totals Employees and improvement Perpetual Deferred September 30 Pensson Emergencies Authonty Railroad Care Scholarship Compensahon 1995 1994 ASSETS Cash and Cash Equrvaients S 360 $ 14.171 5 157 $ 45 5 5,325 5 330 $ - $ 20,388 $ 21,227 investments.. . . . . 358,704 2,185 - - - - 10,007 370,896 340,493 Accounts Receevable. 36 20 - - - - - 56 53 Accrued Irderest.. . . . . . 5 147 1 53 2 -
208 183 Due from Other Govemments . . - - - - - - - -
478 Advance to Other Funds . _ . . - 44 - - - - - 44 44 Due from Other Funds . -
458 - - - - - 458 -
Fixed Assets. - * - - 1,412 - - - 1,412 1,378 Total Assets $ 359,105 $ 17.025 $ 158 $ 1,457 $ 5,378 $ 332 $ 10,007 $ 393.462 $ 363.856 LIABILITIES AND FUND BAl.ANCES Liabilities:
[ Accounts Payable . $ 10 'A 14 5 1 5 - $ - $ - $ - $ 25 $ 139 Due to Other Funds.. - - 22 - - - 22 339 Due to Other Governments.. - - 23 - - - 23 22 Deferred Comrensation Payable.. - - - - - 10,0n7 10,007 8,5)0 Deferred Rer talincome - - - - -
_- 11 1.,,
Total Liabilt les - 14 1 45 - - 10,C7 10,0Ts 9.021 Fund Balances:
Reserved for: l Employee Rettement Plans. 359,095 - - - - - -
359.095 330,306 Advance to Other Funds. - 44 - - - - - 44 44 Fored Assets - - - 1,412 - - - 1,412 1,378 Total Reserved 359,095 44 - 1,412 - - 360,551 331,728 Unreserved:
Designated for:
Annexation - 954 - - - - - 954 954 Total Designated - 954 - - - - - 954 954 Undesignated. - 16,013 157 - 5,378 332 - 21,880 22,153 Total Fund Balances---- 359.095 17,011 157 1,412 5,378 332 - 383,385 354,835 Total Liabilities and Fund Balances S 359,105 $ 17.025 $ 158 $ 1,457 $ 5.378 $ 332 5 10.007 $ 393,462 5 363.856
.m_ . . . _ _ _ _ _ _ _ _ _ _ _ _ _ _ . . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ . _ _ _ _ -_ --
CITY OF TALLAHASSEE, FLORIDA PENSION TRUST AND NONEXPENDABLE TRUST FUNDS COMBINING STATEMENT OF REGUES, EXPENSES AND CHANGES IN FUND BALANCES For the Fiscal Year Ended September 30,1998 (in timaands) 1 Pension Nonexpendable Trust Fund Trust Fund !
Csty Cemetery Totaib l Employees' Perpetual September 30 Pension Care Scholarship 1995 1994 l Operating Revenues:
Investment income.. ,5 10,226 5 261 5 42 8 10,529 8 7,055 investment Gains Net.. , 7,352 - -
7.352 17,784 City Contnbubon.. .. 14,965 - - 14,965 13,494
(*, Employee Contribubon.... . 7,408 - - 7,'408 6,978 State Contnbution.. . .. 1,022 i - - 1,022 887
- l Other.. 115 12 - '127 85 l Total Operating Revenues 41,088 273 42 41,403 46.281 I
j Operating Expenses:
- Benefit Payments.. 8,816 -
8 8,824 8.364 l Refunds.. 1,692 - - 1,692 1,319 Insurance.. 8 - -
8 15 i Admnstrative.. 1,783 _ - -
1.783 1,155 l, Total Operating Expen= - 12.299 .- 8' 12,307 10,853 Operating income _ 28.789 273 34 29.096 35,428 l
Operating Transfers:
Operanng Transfers in.. - - - - 250 i
Not income 28,789 273 34 29,096 35,678 Fund Balances - October 1.. . 330.306 5,105 298 335.709 300,031 ;
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Fund Balances September 30. S 359.095 5 5.378 $ 332 3 364.805 $ 335.709 )
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1 CITY OF TALLAHASSEE, FLORIDA PENSION TRUST AND NONEXPENDASLE TRUST FUNDS COMBINING STATEMENT OF CASH FLOWS For the Fiscal Year Er,ded September 30,1996 (in th'xasands)
Pensson Nonexpendable Trust Fund Trust Fund l City Cemetery Totals l
Employees' Perpetual September 30 Pension Care Scholarship 1995 1994 increase (Decrease) in Cash and Cash Equivalents:
Cash Flows from Operating Activities:
Cash Recahed from Customer * $ - $ 12 $ - $ 1,2 $ 19 l Employer Contnbutions 14,965 - - - 14,965 13,494 Employee ContntAJtione _< 7,408 - - 7,406 6,976 7...
State Contributiona 1,022 - - 1,022 887 Benefits Paid. (8,816) -
(8) (8,824) (8,364)
Refunde Paid.- (1,692) - - (1,692) (1,319)
- Administrative Cost Paed. (1,791) - - (1,791) (1.170)
Not Cash Provided by (Used for) Operating Activities 11.096 12 (8) 11,100 10.523 Cash Flows from Noncapital Financing Activities:
Operating Transfens in from Other Funds. - - - - 250 Not Cash Provided by Noncapital Financing Activities. - - - - 250 Cash Flows from investing Activities: ,
Purchase of invoetment Securthos... (139,522) - - (139,522) (232,623)
Proceeds from Sale and Maturtties of Investment Secunties. 110.545 - - 110,545 196,534 Receipts of Interest on investments. _
17.6We 252 42 17.900 '24.888 Not Cash Provided by (Used for) Investing Activities . -. (11,281) 252 42 (10.987) (11.201)
N:t increase (Decrease) in Cash and Cash Equivalents.. (185) 264 34 113 (428) ,
Cash and Cash Equivalents October 1 545 5.061 296 5.902 6.330 C:sh and Cash Equivalents September 30 $ 360 $ 5.325 $ 330 $ 6.015 $ 5.902 Classified As: .
Unrestnctel Assets. $ 360 $ 5.325 $ 330 $ 6.015 $ 5.902 Reconciliation of Operating income to Net Cash Provided by Operating Activities:
Operating income. $ 28.789 $ 273 $ 34 $ 29.096 $ 35.428 Adjustments to Reconcile Operating income to .
To Cash Provided by Operating Activities:
Decroses in Accounts Receivable 11 - - 11 34 increase in Accrued interoet Receivable.: (1) (9) (10) -
Increase in Accounts Payable.. (7) - -
(7) -
' Receipts of Interest on investments. (17.696) (252) (42) (17.990) (24 939)
Total Adjustments .. (17.693) (261) (42) (17,996) (24 905) ;
Not Cash Provided by (Used for) Operating Activities . $ 11.096 $ 12 $ ( 8) $ 11.100 $ 10.523 1
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I l CITY OF TALLAHASSEE, FLORIDA EXPENDASLE TRUST FUNOS COMs4NING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE For the Fiscal Year Ended September 30,1995 (in thousands)
Deficsoncies Downtown Totale
- and improvement September 30 Emergencies Authorty Railroad 1995 1994 Revenues T- S - S 98 8 - S 98 8 96 Interest 1,022 8 2 1,032 1,028 Meceneneous -. - - 88 Rentalincoma - - 43 43 22 f
intergovemmental Revent_= - - '
30 30 210 Total Revenues _ 1,022 106 75 1,203 1,423 I
Expenditures: .
! Current: )
j: 's sure and Recreation. 597 102 - 600 E79 1 44
? anoportation- 210 - 254 20 l Ulstribution of Earmnos - - 1 1 4 l Total Expenditures _ 807 102 45 954 803 .
I Excess Revenues Over
' Expenditures _ 215 4 30 249 820 Other Financing Sources (Uses):
1 Operstmg Transfers in.- 797 - - 797 125 l Operetng Transfers (Out).. (1.596) - -
(1.596) (3.964) l l Total other Financing Sources (Uses) ._. (799) - -
(790) (3.850)
! Excess of Revenues and Other Financing Sources Over (Under) Expenditures and Other Financing Uses (564) 4 30 (550) (3,030)
, Fund Beiences - October 1.- 17,595 '153 1,378 19,126 22,028 .
l Residual Equay Transfer in- - - 4 4 137 fa Fund Balances - September 30 $ 17.011 3 157 5 1.412 8 18,580 3 19.126 R
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CITY OF TALLAHASSEE, FLORIDA DEFERRED COMPENSATION FUND STATEMENT OF CHANGES IN ASSETS AND UABluTIES For Fiscal Year Ended September 30,1995 (in thousands)
Balance Balance October 1, September 30, 1994 Additions Deductions 1995 ASSETS ,
investments.. $ 8.510 $ 2,041 3 544 5 10.007 i Total Assets. .. . 5 8.510 5 2.041 5 544 5 10.007 UABluTIES Deferred Compensaton Payable.. $ 8.510 $ 2.041 5 544 5 10.007 Total Uabilities... $ 8.510 5 2.041 T 544 5 10.007 1
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i GENERAL FIXED ASSETS 1i ACCO.UNT GROUP i
g To account for fixed assets not used in Proprietary Fund operations or j ,
accounted for in Trust Funds.
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l CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF GENERAL FIXED ASSETS - S't SOURCES (In thousands)
September 30 1995 1994
. General Fixed Assets:
Land.. 5 28,477 5 27,540 Buildings.. -. 36,954 36,788 improvements other than Buildings.. 10,877 11,051 l Equipment... 10,944 13,281 !
Construction in Progress. 33,173 20,819 Equity investment in Railroad Fund. 706 689 Total General Fixed Assets ..' . $. 121,131 5 110.16a investment in General Fhed Assets from:
General Revenue Bonds.. $ 35,937 5 31,238 General Fund Revenues.. 18,829 21,900 Grants.- 7,638 7,345 Capital improvement Fund.. 46,649 43,450 Gifts - 812- 792 Stormwater Management Fund : 217 114 i
' Sales Tax Construction Fund -. -. 5,085 4,640 j Equity investment in Railroad Fund.- 706 689 t Parking Garage Bond Construction.. 5,258 -
l Totalinvestment in General Fixed Assets $ 121,131 $ 110.168 b
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CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF GENERAL FIXED ASSETS -
8Y FUNCTION AND ACTMTY September 30,1998 >
(in thousands)
Improvements Other Than Total Land Buildwigs Buildings Equipment General Govemment:
Control:
City Comeruesson . 5 16 5 -
S - 5 -
8 16 .
City Manager 37 - - - 37 City Treasurer-Clerk... 35 - - -
35 City Attomey ..-.. 23 - '- -
23 City Auditor.. . 76 ,
- - 76 Total Control 187 - - - 187 i
i Staff ?;-- '-
- Management and Budget... 9 - - -
9 Minonty Busmess 4,013 - 4,008 - 5 Engmeenng.... 849 -
434 - 215 Public Information.. 192 - - 72 120 Code Enforcement... 15 - - - 15 General Govemment Builang.. 28,783 2,600 18,943 2,880 4,360 Community Development... . 4,000 333 3,589 7 80 Growth Management... . 10 - - - . 10 Cable Communications.. 3 - - - 3 Environmental Services- 49 - - - 49 Total Staff Agerdas . 37,732 2.933 26.974 2.959 4.866 Total General Govemment 37,919 2.933 26.974 2.959 5,053 Public Safety: .
Fire Protecton 4,101 410 2.848 30 813 Police Protecton. . .. 6,420 500 3,076 67 2,777 Building inspection.. 4e - - - 46 Total Pubile Safety 10.567 910 5,924 97 3.636 Other:
Highways and Streets.. 24,444 18,970 142 4,008 1,324 Serwtanon.. . . 5 - - - 5 Recreation.. .. 13,982 5,664 3,894
- 3,501 923 Cemeteries.. 335 - 20 312 3 Total Other. . 38,766 24.634 4.056 7.821 2.255 TotalGeneralFixed Assets Allocated to Functions. 87,252 5 28.477 Q4, 5 10.877 5 10.944 Construction in Process.. 33,173 Equdy investment in Railroad Fund.. 706 Total General Fixed Assets. $ 121.131 .
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CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF CHANCES IN CENERAL FIXED ASSETS -
BY FUNCTION AND ACTMTY For the Fiscal Year Ended September 30,1995 (in thousands)
General Additions Deductions General Fixed Assets And And Fixed Assets October 1.1994 Transfers in Transfers Out September 30.1995 General Govemment:
Control:
City Commesion. $ 16 8 - $ - $ 16 City Manager.. .. 40 - 3 37 City Treasurer-Clerk., 26 9 - 35 City Attomey.. 2 21 - 23
'* City Auditor.. .. 76 - - 76
? 187 Total Control . 160 30 3 1
StaffAeoncles:
OfRee of Organizational Effectrveness 8 1 - 9 Mmonty Busness 4,012 1 - 4,013 Engineering.. . 649 - -
649
, Public Information.. 194 - 2 192 Code Enforcement... 15 - - 15 General Govemment Buildog.. 28,853 224 294 28,783 Commuruty Development... 3,991 18 - 4,009
' Growth Management.. 9 1 - 10 Cable Communications.. 3 - -
3 Enwronraental Services.. . 38 12 1 49 Total Staff Agencies . 37.772 257 297 37,732 Public Safety:
i Fire Protection.. 6,471 150 2,520 4,101 Police Protection.. 6,251 170 1 6,420 Buildmg inspecbon.. 42 4 - 46
- Total Pubile Safety. _
12.764 324 2.521 10.567 Other:
- Highways and Streets.. 24,053 403 12 24,444 Sarutation.. 5 - - 5
- Recreation.. 13.823 219 60 13,982 Cemetenes.. 83 252 - 335 Total Other . . 37,964 874 72 38.766 Construebon e Progress.. 20,819 16,741 4,387 33,173
. Equrty investment in Railroad Fund.. 689 17 .
- 706 Total General Flued Assets. $ 110.168 $ 18.243 $ 7.280 $ 121,131 4
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I GENERAL LONG-TERM DEBT t
ACCOUNT GROUP i
To accour.t for general long-term liabilities not accounted for in proprietary funds and tnist funds.
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CITY OF TALLAHASSEE, FLORIDA STATEMENT OF CENERAL LON3. TERM DEST (in thousands)
September 30 1995 1994 Amount Available and To Be Provided For the Payment of General Long. Term Debt:
Amount Available in Debt Service Fund $ 28,889 $ 28,933 Amount To Be Provided:
Loans from Other Funds . 1,670 2,578 Accrued Leave. 7,880 7,401 Capital Bonds, Series 1989.. .. 475 1,175 Capital Bonds, Series 1993.. 21.631 22.581 Total To Re Provided -
. . 31,656 33,735 Total Available and To Be Provided S 60.545 $ 62.668 General Long. Term Debt Payable:
Note Payable.. . 5 215 $ 259 i Accrued Leave.. . 7,880 7,401 Capital Bonds, Senes 1989.. 1,555 2,255 Capital Bonds, Series 1993.. ..... 24,260 25.210 f Sunshene State Loan Payable.. 24,965 24,965 l Loans from Other Funds.. 1,670 2.578 Total General Long. Term Debt Payable.. . S 60.545 5 62.668 F
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l' SUPPLEMENTAL FINANCIAL DATA
,4.
i These schedules provide a summary of the debt service requirements for the City's outstanding bond issues.
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEST SERVICE REQUIREMENTS CAPITAL BONDS - SERIES 1989 S.ptemb.c so,199s (in thousanda)
Fiscal Year Ending Principal Interest Total 1996 5 750 $ 82 5 832 1997 805 28 833 Totals S 1,555 5 110 $ 1,665 Bonds Dated: April 1,1989 Onginalissue Amount: $21,220,000 .
Pnncipal Due: October 1 of each year, beginning October 1,1990 Interest Due: April 1 and October 1 of each year, beginning October 1,1989 Paying Agent: Chemical Bank of New York Bonds Maturing Call Premium October 1,1996 to September 30,1997 ,
Two Percent October 1,1997 to September 30,1998 One Percent Se:urity: The Bonds are, on parity with the outstanding Capital Refunding Bonds, Series 1984, payable solely from and secured by a first lien and pledge of the Public Service Tax, Local Govemment Half-cent Sales Tax and Guaranteed Entitlement Revenues.
Bond Ratings: Moody's A1, Standard and Poor's A+
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CAPITAL BONDS SERIES 1993A September 30,1995 (in thousands)
Fiscal Year Ending Principal Interest Total 1996 3 980 $ 761 $ 1,741 1997 1,015 727 1,742 1998 1,055 688 1,743 1999 1,095 646 1,741 2000 1,145 600 1,745 2001 1,195 549 1,744 2002 1,245 496 1,741 2003 - 1,305 438 1,743 i 2004 1,365 377 1,742 2005 1,430 . 312 1,742 2006 1,500 241 1,741 j 2007 1,575 166 1,741 2008 1.655 86 1,741 Totals $ 16.560 $ 6.087 3 22.647 Bonds Dated: July 1,1993 l Originalissue Amount: $18,770,000 Principal Due: October 1, beginning 1994 ,
Interest Due: April 1 and October 1 of each year, beginning April 1,1993 l Paying Agent: First Union National Bank of Florida, Jacksonville, Florida l Escrow Agent: Chase Manhattan Bank, N A., New York, New York Security: The Series 1993 Bonds will be payable solely from and secured as to payment of principal and redemption price thereof and interest thereon in accordance with their terms and the provisions of -
Resolution No. 84-R 1305, as amended and supplemented (the " Original Resolution"), and Resolution No. 93-R-0026, as amended and supplemented (together with the Original Resolution, the "Resolution"), solely by a pledge of and lien on the Pledged Revenues which consist of (a) Public Service Taxes; (b) Guaranteed Entitlement Revenues; (c) Local Government Half-cent Sales Tax; and (d) earnings on the investment of all funds and accounts created by the Resolution, except the Rebate Fund; all as described in the Resolution and subject to the provisions j of the Resolution permitting the application thereof for the purposes of and on the terms and conditions set forth therein. The Series 1993 Bonds are being issued on a panty with the City's Capital Refunding Bonds, Series 1984, and Capital Bonds, Series 1989, remaining outstanding after the issuance of the Series 1993 Bonds.
Optional Redemption Redemption Price ,
October 1,2001 to September 30,2002 One Hundred and One Percent October 1,2002 and thereafter One Hundred Percent Bond Ratings: Moody's Asa, Standard & Poor's AAA, Fitch AAA l-2
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEST SERVICE REQUIREMENTS CAPITAL BONDS SERIES 19938 September 30,1995 (In thousands)
Fiscal Year Ending Principal Interest Total 1996 8 -
S 404 8 404 1 1997 -
404 404 l l 1998 - 404 404
(' 1999 , 404 404 ".
2000 - 404 404 2001 - 404 404 l )
l, 2002 - 404 404 '
, 2003 -
404 404 l 2004 -
404 404 :
, 2005 -
404 404 l 2006 - 404 404 !
, 2007 -
404 404 i l 2008 - 404 404 !
I 2009 1,620 404 2,024
, 2010 1,705 319 2,024 2011 1,795 230 2,025 !
2012 2.580 136 2,716 Totals S 7,700 $ 6,341 8 14,041, Bonds Dated: July 1,1993 OriginalIssue Amount: 87,700,000 Principal Due: October 1, beginning 2009 Interest Due:' April 1 and October 1 of each year, beginning April 1,1993 Paying Agent: First Union National Bank of Florida, Jacksonville, Florida Escrow Agent: Chase Manhattan Bank, N.A., New York, New York
~
, Security The Series 1993 Bonds will be payable solely from and secured as to payment of principal and redemption price thereof and interest thereon in accordance with their terms and the provisions of Resolution No. 84-R-1305, as amended and supplemented (the " Original Resolution"), and Resolution No. 93-R-0026, as amended and supplemented (together with the Original Resolution, the " Resolution"), solely by a pledge
! of and lien on the Pledged Revenues which consist of (a) Public Service Taxes; (b) Guaranteed Entitlement Revenues; (c) Local Government Half-Cent Sales Tax; and (d) earnings on the investment of all funds pnd accounts created l by the Resolution, except the Rebate Fund, all as described in the Resolution and subject to the provisions of the Resolution permitting the application thereof for the purposes of and on the terms and conditions set forth therein. The Series 1993 Bonds are being issued on a panty with the City's Capital Refunding Bonds, Series 1984, and Capital Bonds, Series 1989, remaining outstanding after the issuance of the Series 1993 Bonds.
I
- Optional Redemption Redemption Price October 1,2001 to September 30,2002 One Hundred and One Percent October 1, 2002 and thereafter One Hundred Percent I
l Bond Ratings: Moody's Asa, Standard & Poor's AAA, Fitch AAA l -
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEST SERVICE REQUIREMENTS JUNIOR LIEN ELECTRIC REVENUE BONDS '
SERIES 1992A September 30,1995 (in thousanda)
Fiscal Year Ending Principal Interest Total 1,723' 1997 5 . 1,410 S 313 $ 4 2002 1,372 334 1,706 l
Totals 5 2.782 5 647 5 3.429 Bonds Dated: January 23,1992 OriginalIssue Amount: $2,862,000 Approximated Maturity Compoundina Rate 2/1/1997 5.57 %
2/1/2002 6.09%
Security: The Series 1992A Bonds are secured by the Pledged Revenues on a panty with the City's Junior Uen Electric Revenue Bonds, Series 1985.
Bonds are subject to redemption prior to stated maturities and are presented at face amount outstanding.
These bonds are now fully insured by a Municipal Bond Insurance Policy issued by FGIC, (Financial Guaranty Insurance Company).
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SUMMARY
OF DEST SERVICE REQUIREMENTS ELECTRIC REFUNDING REVENUE BONDS SERIES 1992A i September 30,1995 (in thousands)
Fiscal Year Ending Principal Interest Total 1996 $ 4,445 $ 3,695 $ 8,140 1997 4,645 3,499 8,144 1998 4,860 3,281 8,141 1999 5,100 3,043 8,143 2000 - 5,360 2,783 8,143 2001 5,640 . 2,501 8,141 2002 5,950 2,191 8,141
- 2003 6,285 1,858 8,143 2004 2,645 1,497 4,142 2005 7,030 1,343 8,373 l
2006 7,445 928 8,373 l
, 2007 7,895 482 8.377
' Totals $ 67,300 $ 27,101 '$ 94.401 i
Bonds Dated: November 1,1992 Originalissue Amount: $75,700,000 !
Principal Due: October 1, beginning 1994 l 1
Interest Due: April 1 and October 1 of each year, beginning April 1,1993 Paying Agent: First Union National Bank of Florida, Jacksonville, Florida Secunty: The Series 1992 Bonds will be payable solely from and secured as to payment of principal and redemption price thereof and interest thereon in accordance with their terms and the provisions of the 1985 General Resolution and subsequently by the terms and provisions of the 1992 General Resolution, *
- both as defined herein and in the manner described herein, solely by a pledge and assignment of )
(i) money in certain of the funds and accounts established under the Resolutions, (ii) the Net Revenues !
of the City's Electne System, and (iii) certain other amounts, subject to the provisions of the Resolutions permitting the application thereof for the purposes of and on the terms and conditions set forth in the Resolutions.
l Optional Redemption Redemption Price l
October 1,2002 to September 30,2003 One Hundred and Two Percent October 1,2003 to September 30,2004 One Hundred and One Percent October 1,2004 and thereafter One Hundred Percent G
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CITY OF TALLAHASSEE, FLORIDA ,
SUMMARY
OF DEST SERVICE REQUIREMENTS ELECTRIC REVENUE BONDS SERIES 19928 September 30,1995 (in thousands)
Fiscal Year ;
Ending Principal interest Total 1996 $ - $ 2,473 $ 2,473 1997 - 2,473 2,473 1998 - 2,473 2,473 1999 - 2,473 2,473 2000' - 2,473 2,473 2001 - 2,473 2,473 2002 .- 2,473 2,473 2003 - 2,473 2,473 -
2004 4,000 2,473 6,473 2005 - 2,241 2,241 2006 - 2,241 2,241 i 2007 - 2,241 2,241 2008 6,375 2,241 8,616 2009 6,770 1,846 8,616 2010 7,195 1,423 8,618 2011 7,640 977 8,617 2012 8.110 503 8,613 1
40,090 35,970 $ 76.060 I Totals $ $
l Bonds Dated: November 1,1092 Originalissue Amount $40,090,000 Principal Due: October 1, beginning.2004 Interest Due: April 1 and October 1 of each year, beginning April 1,1993 Paying Agent: First Union National Bank of Florida, Jacksonville, Florida Secunty: The Series 1992 Bonds will be payable solely from and secured as to payment of principal and redemption price thereof and interest thereon in accordance with their terms and the provisions of the 1985 General Resolution and subsequently by the terms and provisions of the 1992 General Resolution, both as defined herein and in the manner described herein, solely by a pledge and assignment of (i) money in certain of the funds and accounts established under j the Resolutions, (ii) the Net Revenues of the City's Electric System, and (iii) certain other amounts, subject to the provisions of the Resolutions permitting the application thereof for the purposes of and on the terms and conditions set forth in the Resolutions.
Optional Redemption Redemption Price October 1,2002 to September 30,2003 One Hundred and Two Percent {
October 1,2003 to September 30,2004 One Hundred and One Percent )
October 1,2004 and thereafter One Hundred Percent
CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEST SERVICE REQUIREMENTS AIRPORT REVENUE BONDS SERIES 1988A September 30,1995 (in thousands)
- l. Year Ending Principal Interest Total i
1996 S 290 $ 877 8 1,167 1997 310 857 1,167 1998 330 835 1,165 1999 355 811 1,166 2000 380 785 1,165 2001 410 757 .
1,167 2002 440 727 1,167 *
. 2003 470 693 1,163 2004 510 .657 1,167 2005 550 618 1,168 2006 590 575 1,165
- 2007 635 529 1,164 2008 685 480 1,165 2009 740 427 1,167 i,
2010 795 369 1,164 l, 2011 860 306 1,166 2012 930 238 1,168 2013 1,000 164 1,164 2014 1.080 85 1,165 Totals S 11,360 $ 10.790 $ 22.150 1
Bonds Dated: February 1,1988 OriginalIssue Amount: $12,350,000 Principal Due: October 1, beginning 1997 Interest Due: April 1 and October 1 of each year, beginning October 1,1988 Paying Agent: First Florida Bank, Tampa, Florida Secunty: The bonds are secured and payable from the not revenues of the Airport System.
, sond Ratings: Moody's Asa, Standard and Poor's AAA
} Mandatory Redemption Term Bonds Due October 1,2008: 1 erm Bonds Duo October 1,201'4:
j Year Amount Year Amount 2004 $ 510 2009 3 740 2005 550 2010 795 2006 590 2011 860 2007 635 2012 930 2008 685 2013 1,000 2014 1,080 Optional Redemption Redemption Price October 1,1995 to September 30,1996 One Hundred Three Percent October 1,1996 to September 30,1997 One Hundred Two Percent
- October 1,1997 to September 30,1998 One Hundred One Percent October 1,1998 and thereafter One Hundred Percent i
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEST SERVICE REQUIREMENTS CONSOLIDATED UTILITY REVENUE BONDS SERIES 1991A September 30,1995 (in thousands)
Fiscal Year Ending Principal Interest Total 1996 3 185 5 75 3 260 1997 195 64 259 1998 205 53 258 1999 215 41 - 256 2000 230 29 259 2001 245 ,
15 260 Totals S 1.275 $ 277 5 1,552 Bonds Dated: May 1,1991 Originalissue Amount: $ 4,490,000 Pnncipal Due: October 1, beginning 1992 Interest Due: April 1 and October 1 of each year, beginning 1991 The Series 19918 Bonds due 10/1/2002 and thereafter, ($2,570,000 principal amount) were legally defeased through the establishment of an irrevocable escrow account with First Union National Bank of Florida. Such escrow was funded in part with proceeds from the City's Consolidated Utility Systems Revenue bonds series 1995 issued July 18,1995.
Secunty The Series 1991A Bonds are payable from and secured by a lien on and pledge of (i) money in certain of the funds and accounts established under Resolution No. 90-R-0052 of the City, as amended and supplemented (the " Resolution"), (ii) the Net Revenues of the City's Utility System, (iii) the Gross Revenues of the City's Stormwater Drainage system and (iv) certain other amounts.
- Bond Ratings: Moody's Asa, Standard and Poor's AAA 9
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CONSOLIDATED UTILITY REVENUE BONDS l SERIES 1991B l
September 30,1995 l (in thousands) l Fiscal Year Ending Principal Interest Total 1996 $ 1,150 $ 487 $ 1,637 1997 1,220 420 1,640 1998 1,290 348 1,638 1999 1,370 270 1,640 2000 1,450 ,
187 1,637 2001 1.540
- 97 1,637 Totals $ 8.020 $ 1.809 $ 9.829 Bonds Dated: July 1,1991 Originalissue Amount: $47,785,000 Principal Due: October 1, beginning 1991 t interest Due: April 1 and October 1 of each year, begir ning 1991
^
The Series 19918 Bonds due 10/1/2002 and thereafter, ($34,830,000 principal amount) were legally defessed through the establishment of an irrevocable encrow account with First Union National Bank of Florida. Such escrow was funded in part with proceeds from the City's Consolidated Utility Systems Revenue bonds series 1995 issued July 18,1995.
Secunty: The Series 19918 Bonds are payable from and secured by a lien on and pledge of (i) money in certain of the funds a,9d accounts established under Resolution No. 90-R-0052 of the City, as amended and supplemented (the " Resolution"), (ii) the Not Revenues of the City's Utility System, (iii) the Gross Revenues of the City's Stormwater Drainage system and (iv) certain other amounts (the " Pledged Revenues," as defined herein) all as more fully defined and described herein under the heading "THE SERIES 1991B BONOS " The lien of the Series 19918 Bonds on the Pledged Revenues is on a panty 1 with the lien therecn of the City's Consolidated Utility Systems Revenue Bonds, Series 1991 A.
, Bond Patings: Moody's Aa, Standard and Poor's AA-I l
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS CONSOL10ATED UTIU1Y REVENUE BONDS SERIES 1994 September 30,1995 (in thousands)
Fiscal Year Ending Principal Interest Total 1996 $ - $ 2,199 $ 2,199 1997 865 2,199 3,064 1996 905 2,159 3,064 1999 950 2,117 3,067 2000 995 2,071 3,066 2001 1,045- 2,022 3,067 '
2002 1,095 ,
1,970 3,065 '
2003 1,150 1,914 3,064 + >
2004 1,210 1,853 3,063 2005 1,280 1,787 3,067 2006 1,350 1,717 3,067 2007 1,425 1,641 3,066 2008 1,505 1,560 3,065 2009 1,590 1,473 3,063 2010 1,685 1,379 3,064 2011 1,785 1,278 3,063 2012 1,895 1,168 3,063 2013 2,015 1,052 3,067 2014 2,135 928 3,063 2015 2,270 796' 3,066 2016 2,410 656 3,066 2017 2,560 506 3,066 2018 2,720 348 3,066 ,
2019 2.885 179 3,064-i
- Totals S 37,725 $ 34.972 8 72.697 l
Bonds Dated: August 1,1994 Orignalissue Amount $37,725,000 Pnncipal Due: October 1, begoneg 1997 Interest Oue: Apnl 1 and October 1 of each year, beginning 1995 Opbonal Redempbon Redempbon Price October 1,2003 to September 30,2004 One Hundred and Two Percent October 1,2004 to September 30,2005 One Hundred and One Percent
. October 1,2005 and thereafter One Hundred Percent Secunty The Senes 1994 Bonds are payable from and secured by a pledge and lien on (i) money in j certain funds and accounts established under Resoluton No. 90-R-0052 of the Crty, as amended 1 and supplemented (the "Resolubon"), (ii) the Net Revenues of the City's Ublity System, (iii) the Gross l Revenues of the City's Stormwater Drainage system and (rv) certam other amounts (the " Pledged Revenues," as defined heren) all as more fully defined and desenbed herem under the headog "THE
. SERIES 1994 BONDS " The lien of the Senes 1994 Bonds on the Pledged Revenues is on a panty j with the lien thereon of the Crty's Consohdated Ubirty Systems Revenue Bonds, Series 1991 A & 19918.
Bond Rabngs: Moody's Aa, Standard and Poor's AA- and Fitch AA i
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
CF DEBT SERVICE REQUIREMENTS CONSOUDATED UTIUTY REVENUE BONDS SERIES 1995 j September 30,1995 (in thousands)
Fiscal
+ Year Ending Pnneipal interest Total 1996 .S 485 5 2,570 8 3,055 l
1997 500 2,552 3,052
( 2,532 3,052 1998 520 1999 360 2,510 2,870 2000 370 2,494 2,864 2001 390 2,478 2,868 ;
2,305 5 2,461 4,706 '
2002 2003 2,410 1 2,355 4,765 l 2004 2,525 2,241 4.766 l
J 2005 2,670 2,096 4,766 2006 2,825 1,943 4,768 2007 2,985 1,779 4,764 2006 3,165 1,600 4,765 l,.
2009 3,335 1,429 4,764 2010 3,515 1,245 4,760 2011 3,715 1,048 4,763
- 2012 3,930 835 4,765 l 1
, 2013 4,155 609 4,764 2014 4,390 375 4,765 2015 400 128 528 2016 420 105 525 2017 445 81 526 2018 470 55 525
, 2019 495 28 523 Totals S 46.780 $ 35.549 5 82,329 Bonds Dated: My 1,1995 Originalleeue Amount 546,780,000 .
Pnncipal Due: October 1, begswng 1996 Interest Due: April 1 and October 1 of each year, beginning 1996 Opbonal Redempton Redemption Price
, October 1,2003 to September 30,2004 One Hundred and Two Percent October 1,2004 to September 30,2005 One Hundred and One Percent October 1,2005 and thereafter - One Hundred Percent Secunty The Series 1995 Bonds are payable from and secured by a pledge and lien on (i) money in certain funds and accounts established under Resoluton No. 95-R-0022 of the City, as amended and supplemented (the " Resolution"), (ii) the Net Revenues of the City's Utility System, (iii) the Gross j i
Revenues of the City's Stormwater Drainage system and (iv) certain other amounts (the " Pledged ,
Revenues," as defined herein) all as more fully defined and desenbed herein under the heading "THE l SERIES 1995 BONOS." The lien of the Senes 1995 Bonds on the Pledged Revenues is on a panty I
- with the hen thereon of the City's Consolidated Utd,ty Systems Revenue Bonds, Series 1991 A & 1991B. j l I Bond Ranngs
- Moody's Aa, Standard and Poor's AA- and Fitch AA l l
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CITY OF TALLAHASSEE, FLORIDA
SUMMARY
OF DEBT SERVICE REQUIREMENTS AIRPORT SUBORDINATED REVENUE BONDS SERIES 1994A September 30,1995 (in thousands)
Fiscal Year Ending Principal Interest Total 1996 $ - 3 262 $ 262 1997 - 262 262 1998 - 262 262 1999 5.235 .c 262 5.497 2
Totals S 5.235 3 1.048 3 6.283 Bonds Dated: March 23,1994 Originalissue Amount: $5,235,000 Principal Due: April 1,1999 Interest Due: April 1, beginning 1995 i
Paying Agent: Treasurer-Clerk of the City of Tallahassee Security: The 198AA Series Airport Bonds Security; The Series 1994 Bonds are payable solely from and secured by (1) a first and prior tien on the passenger facility charges, in the manner provided in the Resolution No. 94-R-0003 and supplemented by Resolution No. 88-R-0006, adopted by the City Commission. (ii) by a junior t and subordinete lien upon and pledge of the not revenue derived from the operation of the airport system.
Optional Redemption Redemption Price Apnl 1,1997 One Hundred and One Percent Apnl1,1997 One Hundred and One Percent October 1,2001 and thereafter One Hundred Percent Security: The Series 19918 Bonds are payable from and secured by a lien on and pledge of (i) money in certain of the funds and accounts established under Resolution No. 90-R-0052 of the City, as amended and supplemented (the " Resolution"), (ii) the Net Revenues of the City's Utility System, (iii) the Gross . .
Revenues of the City's Stormwater Drainage system and (iv) certain other amounts (the " Pledged Revenues," as defined herein) all as more fully defined and described herein under the heading "THE SERIES 1991B BONDS." The lien of the Series 1991B Bonds on the Pledged Revenues is on a panty with the lien thereon of the City's Consolidated Utility Systems Revenue Bonds, Series 1991A. ,
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i Statistical schedules differ from financial statements because they usually cover more than one fiscal year and may present non-accounting data, i These schedules reflect social and economic data, and financial trerids of .
! the government.
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CITY OF TALLAHASSEE, FLORIDA COMMENTS ON THE STATISTICAL SECTION September 30,1995 The following statistical tables recommended by the NCGAS 1 are not included for the reasons stated below.'
a) Tables which concern general ooligation debt are omitted because the City has no general obligation debt.
b) Ten year debt service coverage schedules for enterprise revenue bonds have not been prepared because the City has had several bond refundings during the last ten year period. Thus, inclusion of such schedules would only be confusing to the reader. The City enjoys high bond ratings, and its coverage has been' adequate to sustain these ratings. In several cases, its ratings have increased.
Additional schedules which are felt to be useful to various users, principally investors, underwriters, and rating agencies, have been included in this section.
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CITY OF TALLAHASSEE, FLORIDA i GENERAL GOVERNMENT EXPENDITURES BY FUNCTION AND TRANSFERS Last Ten Fiscal Years (in thousands)
CultureA
, Fiscal General Public Human Economic Physical m and Transfers Year Government Safety Transportation Services Environment Environment Recreation Out Total"8 1986 $ 6.165 $ 16,347 $ 5,998 5 914 5 257 5 5,578 5 4,571 $ 17,834 $ 57,664 1987 6,661 18.113 7,054 989 265 7,517 4,720 14,152 59,471 1988 6,890 21,144 6,979 1,007 274 956 4,404 16,635 58,289 1989 8,036 27,416 6,711 1,109 434 1,283 4,809 19,359 69,157 1990 9,377 29,000 7,999 1,223 502 1,691 5,412 24,598 79,802 1991 11,434 32,117 8,078 1,438 549 2,519 6,540 23,785 86,460 1992 12,817 34,081 8,845 1,799 715 2,751 7,199 30.374 98,581 1993 13,034 35,799 9,174 2,366 755 2,611 7,690 23.885 95.314 1994 13,533 35,624 9,539 2,567 672 2,605 8.234 24,942 97,716 1995 14,978 37,888 9,748 2,974 930 2,948 ',857 d 18,466 96,789 GENERAL REVENUES BY SOURCE AND TRANSFERS Last Ten Fiscal Years (in thousands)
Licenses Fines Charges m Inter-Fiscal and and for govemmental Miscellaneous Transfers Total "I Year Taxes Permits Forfeitures Sennces Interest Revenues Revenues in Revenue 1986 $ 13,444 5 1,103 $ 592 $ 6,610 $ 503 $ 7,501 5 870 5 28,592 $ 59,215 1987 14,380 997 752 8,809 298 7,710 826 25,400 59,172 1988 17,877 1,367 753 3,106 296 8,811 837 26,455 59.582 1989 19,021 1,410 987 6,188 437 8,972 825 30,247 68,087 1990 25,692 1,426 1,270 6,506 589 9,667 755 33,970 79,875 1991 30,394 1,807 1,109 7,673 523 9,233 508 35,487 86,734 1992 32,117 2,056 1,271 8,574 382 8,897 388 44,655 98,340 1993 23,261 2,234 1,321 10,945 296 10,707 740 45,747 95,251 1994 25,261 2,669 1,387 11,563 326 10,129 917 46,376 98,628 1995 27,422 2,092 1,505 11,992 311 10,694 939 45,306 100,261 (1) Includes General Fund any (2) Sold Weste, Golf Course, a-d *,tormwater xtMties have been set up as esperate funds.
CITY OF TALLAHASSEE, FLORIDA PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Fiscal Years (in thousands)
Total Taxable Fiscal Assessed Assessed Year Valuation Valuation Levy Collection Percent M 1986 5 3,630,822 5 2,121,548 $ 5,278 5 5,141 97 1987 3,834,850 2,278,952 5,670 5,500 97 1988 5,266,046 2,406,247 6,978 6,744 97 1989 5,870,328 2,537,446 7,359 7,107 97 1990 6,119,396 2,738,165 7,975 7.759 97 1991 6.361,162 2,942,911 9,460 9,106 96 1992 6,584,152 3,157,138 10,147 9,796 97 1993 6,720,821 3,258,882 10,471 10,124 97 ,
1994 8,389,730 3,736,737 11,305 10,906 96 1995 8,749,066 4,025,808 11,951 11,636 97 (1) Flonde Statutes provuse for a dracount of up to four percent for earty payment of ad valorem taxes. Au unpaid taxes become delinquent on Apr21, and are sold at auction on June 1 of each year as tax certificates. The City, after all tax certificates are sold, has fuity collected aN ad valorem tax revenues e
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CITY OF TALLAHASEEE, FLORIDA A8SESSED AND ESTIMATED ACTUALVALUE OF TAXABLE PROPERTY Last Ten Fiscal Years (in thousands)
Rate of Total Real Property Personal Property Centrally Asesseed Totsie Aseeeeed Estrnated Esemated Esemated Estimated 2 Total 1 Fiscal Assessed Actual Assessed Actumi Aenessed Actual Ah Actual Estmeted Year Value Value Value Value Value _ Value Value Value ActualValue 1986 5 3,191,140 5 3,754,282 3 438,362 5 515,720 $ 1,320 5 1,553 5- 3,630,822 3 4,271,555 85 %
1987 3,373,832 3,969,215 459,105 540,124 1,913 2,250 3,834,850 4,511.589 85 %
1988 4,770,490 5,612,341 493.616 580,725 1,940 2,282 5,286,048 6,195,348 85%
1989 4,889,803 5,752,709 978,850 1,151,589 1,675 1,970 5.870,328 6,906,268 85 %
$ 1990 5,119,778 6,023,268 997,936 1,174,043 1,682 1,979 6,119,396 7,199,290 85 %
1991 5.322,947 6,262,291 1,036,487 1,219,396 1,728 2,033 8,381,162 7,483,720 85 %
1992 5,511,272 6,483,849 1,071,207 1,260,244 1,673 1,968 6,584,152 7,746,061 85 %
1993 5,628,046 6,621,231 1,091,204 1,283,799 1,571 1,849 6,720,821 7,906,849 85 %
1994 7,002,886 8,238,689 1,385,137 1,629,573 , 1,707 2,008 8,389.730 9,870,270 85 %
1995 7,347,838 8,644,515 1,399,538 1,648,515 1,090 1,988 8,749,086 10,293,018 85 %
Source Leon County Property Appnueer .
CITY OF TALLAHASSEE, FLORfDA ASSESSED VALUATIONS, MILLAGE AND TAXES LEVIED AND COLLECTED Last Ten FiscalYears
@ thOt=SatufS) 19m8 1989 1990 9991 1992 1993 1994 1995 19&5 1987 TOTAL VALUATMN4S S 3 630 822 $ 3'834 850 $ 5 296 046 S 5 870 328 5 6 119 396 $ 6.381.162 5 6.*e4152 3 6.720 821 S 8 3R9 730 $ 8 749 086 REAL ESTATE EXERIPTIONS 9 397 10.8Fi8 8.473 8.187 12.004 26.477 36.088 27.503 26.083 A0ncuturel Adpustment 6.026 2.128.416 2.589.404 2.620.076 2.632.150 2.330.197 2.637.332 3.771 486 3.764 988 Ceemmere Esemption 616.124 632.282 265.412 262.485 263.289 266.278 241.928 2e5.874 277.262 279.710 Insttutenel Emempturt 461.980 472.878 induduel or Homestead 435 643 449.804 486.744 464.088 502.192 520.241 536.550 570 267 584.240 Exemptons 419.965 Other Charitable Exempears ._ _ 5 696 5.499 5.770 5 611 5 627 6.171 6115 6495 6 895 5.179 YOTAL EXEMPTION AND 2.859.799 3.332.882 3.381.231 3.418.251 3,427.014 3.481.939 4.652.993 4 861.916 ADJUSTMENTS 1.509.274 1.555 896 Y
2 406 247 5 2.537,446 5 2.738.185 5 2 942 911 S 3.157.138 $ 3.258.852 S 3,736.737 $ 4 025 8n8 TAKASLE VALUATION $ 2.121.548 5 2.278 952 S 2 Ans 2 900 2900 2 900 3200 3 7tVI 3 200 _ 3200 3200 teILLAOE LEVIE"> 2 ene TOTAL TAKES LEVIED $ 5.278 5 5.670 $ 6.978 S 7.359 8 7.975 5 9,480 S 10,147 $ 10,471 5 11.305 8 11,951 174 215 319 231 273 302 323 367 382 Less Adpustmeris & Decmurt 142 5496 S 6.763 $ 7040 $ 7.744 5 9 187 8 9 845 $ 10.148 $ to 91R S 11 539 Net Tones Leved . .S S 136 $ _
NET COLLECTED suat S 5 141 S 5500 $ 6 744 S 7.107 S 7.750 $ 9 106 $ 9 798 $ 10 124 S to 908 $ 116M Source Leon Courty Propa4y Appresser (1) nonde Statutes pnmde for a discourt of g to be percert for early paymerd d ad wolorem teses As unpaid tomba become dehnquart on Apre 1 and are seed at eucten on June 1 of each year as tax certMcates h1ty, mRef eB tem certecotes are sold. has ItAy coAected at ed valorem tem sevenues (2) Net tzflected inclisses pensties or late payments d
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CITY OF TALLAHASSEE, FLORIDA PROPERTY TAX RATES DIRECT AND OVERLAPPING GOVERNMENTS (Per $1000)
Last Ten Fiscal Years Fiscal City of Ta!!ahassee County School Board Leon County N.W. Water Year Debt Management !
Operating Operating Service Operating Distnct Total l 1986 l
$2.49 $7.11 $0.21 $5.45 $0.05 $15.31 1987 2.49 7.56 0.20 5.80 0.05 16.10 1988 2.90 7.34 0.16 6.20 0.05 16.65 l 1989 l 2.90 7.65 1.24 6.79 0.05 18.63 l 1990 2.90 8.53 1.99 8.09 0.05 21.56 1991 3 'A 8.86 1.97 8 09 0.05 22.17 1992 .
3.20 8.88 1.90 8.29 0.05 22.32 1993 3.20 9.00 1.79 8.86 0.05 22.90 1994 3.20 9.03 1.47 8.66 0.05 22.41 1995 9.46 8.64 -
l 3.20 1.40 0.05 22.75 l Source: Leon County Tax Collector SPECIAL ASSESSMENT COLLECTIONS Last Ten Fiscal Years l
(in thousands)
Assessments Assessments Fiscal Due Assessments Assessments Due Year October 1 Levied Collected September 36 ,
1986 $629 $343 $111 $861 1987 861 309 241 929 1988 929 -
228 701 1989 701 -
132 569 1990 569 -
146 423 1991 423 130 115 438 1
4 1992 438 160 188 410 1993 410 127 91 446 1994 446 306 574 178 1995 178 23 42 159 J-6
CITY OF TALLAHASSEE, FLORIDA COMPUTATION OF LEGAL DEBT MARGIN September 30,1995 I
(in thousands)
TAXABLE ASSESSED VALUE.. . . 5 4,025.808 Debt Limit 20 Percent of Assessed Value.. . . . . 5 805,162 The City of Tallahassee has no general obligation debt' outstanding; the amount of general obligation debt the City can issue is limited by City Charter. .
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CITY OF TALLAHASSEE, FLORIDA ,
COMPUTATION OF DIRECT AND OVERLAPPING DEBT September 30,1995 (in thousands) ,
DIRECT DEST Non-Self-Supporting Revenue Debt:
Capstat Bonds, Series 1989.. . . .. $ 1.555 i Capital Bonds Series.1993 A & B.. . . . 24.260 l Less: Debt Service and Reserve Funds.. . (3.490) l Total Direct Debt... . . . . . . . . $ 22,325 OVERLAPPING DEBT ;
Leon County School Board .-
g Tax Supported Ad Valorem Debt: .
- General Obligation Bond issue 1993 Refunding.. .. . . . . . . $ 39,555 Less
- Debt Service and Reserve Funds.. (4.011) $ 35,544 1
1991 Refunding.. . .. . 34,945 Less: Debt Service and Reserve Funds.. (4.046) 30.899 State Board of Education.. . . . . 2.555 Less: Debt Service and Reserve Funds.... (88) 2,467 '
Race Track School Portion Revenues.. 1,745 Less: Debt Service and Reserve Funds.. (494) 1,251 Leon County Non-Self-Supporting Revenue Debt l Refunding Bonds 1991 Series i Courthouse.. .. . 31,260 Less: Debt Service and Reserve Funds.. . - 31,260 Refund Revenue Bonds 1988 Series.. .. . 1,605 Less: Debt Service and Reserve Funds.. .
- 1,605 Library Construction Revenue.. 560 Less: Debt Service and Reserve Funds.. . 560 Jail Construction, Series 1991.. . 39,255 Lo,ss: Debt Servi,::e and Reserve Funds.. (5.133) 34.122 137,708 i CITY SHARE OF NET OVERLAPPING DESTN........ 93.641
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TOTAL CITY DIRECT AND OVERLAPPING DEBT..... $ 115.966 SELF4UPPORTING REVENUE DEBT: -
. Electric Revenue Bonds.. $ 110,819 j Less: Debt Service and Reserve Bonds.. (12.466) $ 98,353 CUS Revenue Bonds.. . 93.800 Less: Debt Service and Reserve Bonds.. (7.405) 86,395 Airport Revenue Bond.. 16.595 Less: Debt Service and Reserve Bonds.. .... (3.487) 13,108 Sunshine State Loan.. 21,700 Lost Debt Service and Reserve Bonds.. (838) 20.862 TOTAL SELF-SUPPORTING REVENUE DEBT ,
5 218.718 (1) City's share enaridated based on 1995 County Taxatde Value of $5.948,786.156 and Cry Taxable Value of $4,025.807.893 percent overlapping 68 percent.
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CITY OF TALLAHASSEE, FLORIDA DEMOGRAPHIC STATISTICS Last Ten FiscalYears W ater Electric Consumed Gas Used Leon County Retalm EshmatedW Airline KWH Used (Gals) (Cu. Ft) Houang A School Sales Year Populabon P;n rym. (000's) (Mimons) (Mehons) Units Enroement (000's) 113,746 354,098 1,419,245 7,983.50 1,285,008 48,944 23,911 938,817 1986 116,287 1.556,543 7,031.30 1,385,865 50,384 24,508 1,035,261 1987 413.242 118,367 430,045 1,676,050 7,641.20 1,447,084 51,643 24,917 1,157,884 1988 122,333 434,859 1,756,912 6,635.10 1,311,770 53,749 26,404 1,237,572 1989 124,773 456,607 1,921,683 8,495.70 1.440,811 55,455 ' 27.241 1,335,603 1990 127,100 437,44' 2,049,242 8.298.60 1.409,379 56,276 28,432 1,423,666 1991 129,258 433.686 2,156,653 8,950.00 1,565,396 57,398 29,186 1,663,321 1992 1993 132,036 427,225 2,018,551 8.397.10 1,560,133 58,735 28,143 1,750,343 133,731 435,214 2,155.772 7.745.55 1,609,658 59.595' 30,493 2,017.386 1994 1995 137,057 501.499 2,350,754 8,008.00 1,553,888 61,186 33,555 N/A Source: City Records
<o
. (1) U. S. Census Bureau and Tasahassee-Leon County Planning Department (2T Sales Marketmg and Management, calendar year figures (3) Leon County Stanstes N/A- Not Available
~
Year Number of Labor Force Number of Employed Number of Unemployed Unemployment Rate 1986 53,06 51,442 2,414 4.5 percent 1987 56,938 54,524 2,414 4.2 percent 1988 58,342 56,117 2,225 3 8 perceret 1989 60,640 57,636 3,004 5.0 percent 1990 62.837 50,817 3,020 4.8 percent 1991 65,378 62,271 3,107 4.7 percent 1992 67,363 63,736 3,627 5.4 percent 1993 81,400 77,581 3,819 4.7 percent 1994 76,617 72,608 4,009 5.2 percent 1995 77,990 74,897 3,093 4.0 percent Source: Florida Department of Labor and Employment Security
_ _ _ - _ _ _ _ _ . . _ _ . _ _ . - _ _ _ - - _ _ _ _ _ - . . . _ _ _ _ . - _ _ _ _ - _ _ . _ _ _ _ _ _ _ _ _ _ _ _ - _ _ _ _ _ _~ _ _ _ _ _ _ _- = ___- - - ~ ~ _ _ _ mw- _~-w -. __a
CITY OF TALLAHASSEE, FLORIDA SCHEDULE OF INSURANCE IN FORCE September 30,1995 (in thousands)
Estimated Policy Annual Type of Coveraae and Insurance Company Policy Number Expiration Details of Coverage Limits Premium LIABILITY:
Self-insured . . N/A N/A Excess Auto /GeneralLiability $3,000 Funded Trust American Eagle /Lloyds., . AFE-0027246/AIE2727802 9/30/96 Airport Liability $100,000 $40 Self-insured.. . N/A N/A Primary Auto / General Liability $100/200 Funded Reserves Self-insured . . N/A N/A Police Professional $100/200 Funded Reserves FIRE AND EXTENDED COVERAGE:
Hartford Steam Boiler.. .. .9429984 9/30/96 Boiler and Machinery $150,000 $205 y Royal Surplus /Various.. . Various 9/30/96 Utility Property $150,000 $775
$ Fireman's Fund.. . 94-284C . 9/30/96 General Govemment Property Comprehensive All-Risk $142 HEALTHCARE:
Self-Insured . . . N/A N/A Employee Health Insurance $150 Fund Reserves Standard Insurance Company... . LF S8054801 12/31/95 Specific Stop-Loss $1,000 $26 ACCIDENTAL DEATH:
Home insurance.. . . GTA-10349 9/30/96 Statutory and Accidental Death (Firemen and Policemen) $50 or $75 $32 WORKERS' COMPENSATION:
National Union Fire.. . 54361 9/30/96 Excess Workers' Compensation Statutory excess of $95
$500 SIR per inadent Self Insured.. . . . . N/A N/A Primary Workers' Compensation $500 Funded Reserves PUBLIC OFFICIALS BOND:
Fidelrty & Deposit.. .. 30471075 9/30/96 Employee Bonds $1,000t$100 $4
CITY OF TALLAHASSEE, FLORIDA PRINCIPAL TAXPAYERS september so,1ess (in thousands)
Assessed Valuetm Percentage Tangable of Total Real Personal Aseeemed Taxpeyer Property Property Total Valuate Central Telephone . .$ 8,347 3 114,181 3 122,528 1.4 Talquin Electric.- 1,597 50,575 52,172 , 0.6 l
Govemor's Square Mag.. 49,601 - 49,801 0.8 Tallahaisee Mall.. 25,207 - 25,207 0.3 Koger Properties.. 21,778 - 21,778 0.2 Tallahassee Medcol Center.. 9,522 7,868 17,390 0.2 Comcast Cable.. , 1,037 15,740 16,777 0.2 General Dynames - 13,478 13,478 0.2 Northwood Conter.. 11.953 - 11,953 0.1 Total 5 129.042 S 201.842 5 330,884 3.8 Source: Leon County Property Appraiser O
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f CITY OF TALLAHASSEE, FLORIDA MISCELLANEOUS STATISTICAL DATA September 30,1995 i
Date of incorporation . 1825 Terms of office:
Date First Charter Adopted.. 1825 Mayor - One Year (Elected by the Commission)
Date Present Charter Adopted.. 1919 Commissioners - Four Years Manager - Appointed by Commission Form of Government: Commission-Manager Average Annual Temperature.. 67.2 Degrees Average Annual Rainfall.. 64.60 inches Commission Composed of. Mayor and Four Commissioners
- Area.. 81.69 Square Miles MUNICIPAL UTILITIES and SERVICES Electric System: Water System:
3 Miles of Water Mains.. 758 Generating Plants..
490,000 Daily Average Consumption (MGD) . 21.94 Generating Capacity (KW)..
1,430,452,844 Plant Capacity (MGD).. 71.5 Net System Energy Generated (KWH).. .
Number of Service Connections.. 59,899 Average Number Residential Customers.. 71.119 585.58 Deep Wells.. 29 Average Residential Monthly Bill..
Miles of Transmission Lines . 184 y Primary Distribution Sub-System Capacity (KVA) 730,000 d Square Miles of Service Area.. 219 Sewage System:
13,473 Miles of Sanitary Sewers.. 567.75 Number of Street Lights..
1825 Number of Lift Stations.. 84 Miles of Distribution Lines..
Daily Average Treatment (MGD).. 18.138 Gas System:
501 Maximum Capacity of Treatment Plants (MGD) . 32.06 Miles of Gas Lines..
4,257 Number of Disposal Plants . 2 Daily Average Consumption (MCF)..
4,000 Number of. Service Connections.. 49,704 Plant Capacity (MCF) . '
Number of Service Connections.. 14,104 Parks and Recreation:
Community Centers and Speciality Centers . 9 Police Protection:
488 Summer Playgrounds and Camps . 13 Number of Employees..
262 Athletic Fields.. 138 Number of Vehicular PatrN Units..
Golf Courses- 2 Number of Law Violations:
7,360 Swimming Pools.. 9 Physical Arrests..
9,879 Parkland Acreage. 1,833 Traffic Violations.. . . . .
66,446 Parcours Trails.. 7 Parking Violations..
Tennis / Racquetball Courts.. . 71 Gymnasiums, Center Sites . 5 Gymnasiums, School Sites.. 12
CITY OF TALLAHASSEE, FLORIDA MISCELLANEOUS STATISTICAL DATA (C5ntinued)
Community Facilities Transportation: Education:
Airline, Bus Line, and Railroad Freight and Passenger Services Number of Public Schools.. 35 Number of Public School Instructors. 2030 Communicatiens: Number of Public School Students, (PK-12)... 33,555 Newspapers. Radio Stations Television Stations; Number of Vocational-Technical Schools.. 1 Cable Television and Telephone Service - Number of Community Co!!eges . 1 Number of Universities.. 2 Culture, Recreation, and Health: Number of College-level Instructors . 2,988 Conference Center, Civic Center, and Theaters Number of College-level Students.. 50.592 Seating Capacity.. 23,142 Museums.. 3 Major Annual Events:
Major Libraries.. 8 Springtime Tallahassee Festival Skating Rinks.. 2 Fourth of Jufy" Celebrate America" Golf Courses.. 7 North Florida Fair Hospital Beds.. 951 Market Days e Winter Festival 5
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