HomeMy WebLinkAbout1968 09 30 Financial Report - City of friendswood I
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CITY OF FRIENDSWOOD, TEXAS
11
FINANCIAL REPORT
FOR THE NINE MONTHS ENDED
SEPTEMBER 30, 1968
ELECTED OFFICIALS
MAYOR
I! Ralph W. Somers
CITY COUNCIL
Ronald G. Hamil
James E. Mager
George F. Prude
Edward F. Stuart
!I Thomas F. Woods
L. B. Cline Tax Assessor & Collector
11
L. B. Cline City Secretary
!! P. 0. Box 122
Friendswood, Texas
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TABU, OF CONTENTS
II Page
Letter of Transmittal
11 Statement of Combined Cash Receipts and Disbursements
All Funds Except Utility Fund 1
11 General Fund - Operating Expenses
General and Administrative Expenses - Schedule I 2
Police Department Expenses - Schedule II 3
I! Streets and Drainage Department Expenses - Schedule III 4
Miscellaneous Other Expenses - Schedule IV 5
11 Capital Expenditures - Schedule V 6
Water and Sewer System - Statement of Income and Expenses 7
Statement of Combined Cash Receipts and Disbursements
Interest and Sinking Funds 8
11 Statement of Combined Cash Receipts and Disbursements
Bond Reserve Account 9
Statement of Cash Receipts and Disbursements
At Water and Sewer System Construction Account 10
Balance Sheet - Water and Sewer System 11 & 12
Balance Sheet - All Funds 13 & 14
11 Analysis of Changes in Unappropriated Surplus 15
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Schedule on Reserve for Retirement of Sinking Fund Bonds 16 & 17
IISchedule of General Fixed Assets 18 & 19
11 Schedule of Property, Plant and Equipment - Water & Sewer System 20
Statement of Bonds Payable 21, 22 & 23
1! Statement of Bond Maturities and Interest Requirements 24
Schedule of Insurance in Force 25, 26 & 27
I
HELOISE BROWN CANTER
CERTIFIED PUBLIC ACCOUNTANT
1101 Memorial Professional Building
HOUSTON, TEXAS 77002
11 January 10, 1969
Honorable Mayor and City Council
City of Friendswood, Texas
11 I have examined the recorded cash receipts and disbursements of the
CITY OF FRIENDSWOOD, TEXAS for the nine month period ended September 30,
11 1968. My examination was made in accordance with generally accepted
auditing standards and accordingly included such examination and tests
of the detailed cash receipts and disbursements records of the city
11 together with such other procedures as I considered necessary under the
circumstances.
Accounting records for the city are maintained on a cash basis; the
records for the water and sewer system are maintained on an accrual basis.
General City Government
The city has in the past reported financial activities to the bond-
holders on a fiscal year ending December 31. Attention was called to
Ordinance #45 which sets a fiscal tax year for the city as October 1
through September 30. By motion made and passed, the council approved on
September 3, 1968, a fiscal year for the city from October 1, 1968 through
I/ September 30, 1969. This report therefore covers municipal operations for
the nine month period beginning January 1, 1968 and ending September 30,
1968.
Revenues and expenditures of the General Fund for the nine months
ended September 30, 1968 are as follows:
Revenues
Taxes, Penalties and Interest $19,519.23*
Franchise and Gross Receipts 8,240.98
11 Fines and Forfeits 2,100.00
Permits 14,677.31
Other Revenues 2,026.81
Total S46,564.33
Expenditures
Operating Expenses $74,590.83
Capital Outlay 6,851.04
Total $81,441.87
Excess of Expenditures over Revenues $344877.54
*Collections on the 1967 tax levy received in 1967 totaled $46,208.21
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Taxes
IF For the period ended September 30, 1968, the city operated the water
and sewer system of Galveston County WCID #21 under an agreement whereby
the city received all of the income from the WCID #21 system and in turn
1r paid to the district a sufficient amount ($17,653.85) to pay the WCID #21
district bond requirements.
On November 18, 1968, the City Council adopted Ordinance #117 which
Irprovided that:
1) That the City of Friendswood shall take over all properties
I! and assets of Galveston County Water Control and Improvement
District No. 21 and shall assume all debts, liabilities and
obligations of said Galveston County Water Control and
Ir Improvement District No. 21 and shall perform all functions
and services of such district.
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2) The water works and sanitary sewer system of Galveston County
Water Control and Improvement District No. 21 shall be
operated as a separate system from the city's present system
and all revenues collected from the operation of said water
I works and sanitary sewer system shall be used only as provided
in said October 15, 1964 order of the Board of Directors
authorizing issuance of said S600,000 bonds.
IIThe maturity schedule for the Galveston County Water Control and
Improvement District #21 bonds is as follows:
It Principal
Payable Interest Payable
Year August 1 February 1 August 1 Total
It1969 $ 15,000 $ 15,000 $ 30,000
1970 15,000 15,000 30,000
Ir 1971 15,000 15,000 30,000
1972 $ lo,000 15,000 15,000 4o,Ooo
1973 10,000 14,75o 14,75o 39,500
1974 10,000 14,500 14,500 39,000
Ir 1975 10,000 14,250 14,250 38,500
1976 10,000 14,000 14,000 38,000
1977 15,000 13,750 13,75o 42,500
Ir 1978 15,000 13,375 13,375 41,750
1979 15,000 13,000 13,000 41,000
198o 15,000 12,625 12,625 40,25o
1981 15,000 12,250 12,25o 39,500
I! 1982 20,000 11,875 11,875 43,750
1983 20,000 11,375 11,375 42,750
1984 20,000 10,875 10,875 41,750
1985 20,000 10,375 10,375 40,750
1986 20,000 9,875 9,875 39,750
1987 25,000 9,375 9,375 43,75o
II 1988 25,000 8,750 8,750 42,500
1989 25,000 8,125 8,125 41,25o
1990 25,000 7,500 7,500 40,000
1991 25,000 6,875 6,875 38,75o
Ir 1992 30,000 6,250 6,250 42,500
1993 30,000 5,500 5,500 41,000
1994 30,000 4,75o 4,75o 39,500
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Principal
Payable Interest Payable
ItYear August 1 February 1 August 1 Total
1995 30,000 4,000 4,000 38,000
1996 30,000 3,250 3,250 36,500
li 1997 30,000 2,500 2,500 35,000
1998 35,00o 1,750 1,750 38,500
1999 35,000 875 875 36,75o
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$600,000 $306,375 $306,375 $1,212,750
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The 1965 and subsequent tax levies of the City of Friendswood, based
on a tax rate of $1.00 per $100 assessed valuation, were distributed as
follows:
41
1965 1966 1967 1968
* General Fund Operations $0.58 $0.664 $0.58 $0.655
Interest and Sinking Fund 0.42 0.336 0.42 0.345
Total $1.00 81.00 1.00 1.00
Taxes levied and collections thereon are as follows:
401,
Assessed Valuation
IF October 1 $8,231,591 $10,455,650 $11,432,725 $17,189,194
Taxes Assessed
City $82,315.91 $104,556.50 $114,327.25 $124,642.17
WCID #21 47,249.77
Total S82,315.91 8104,556.50 S114+,327.25 S171,891.94
11 Total Collections $82,005.56 $102,758.60 $111,705.50 N/A
% Total Collections 99.62% 98.28% 97.71%
s '
Fire Truck Fund
At a special meeting held October 20, 1965, the city assumed financial
responsibility for a HPV750 John Bean High Pressure Fog Fighter which was
11 donated to the Friendswood Volunteer Fire Department. The city executed a
note for $19,000.00 in payment for this equipment. This indebtedness is
being retired through voluntary contributions by the citizens of Friendswood.
As of September 30, 1968, there was a balance of $4,000.00 due on the note
11 and there was $1,824.09 cash balance in the Fire Truck Fund.
ilWater and Sewer System
The following is a summary of income and expenses of the Water and
Sewer System for 1966 and 1967 and the nine months ended September 30,
1968:
(schedules on next page)
1!
Water and Sewer System (continued)
12 Months 12 Months 9 Months
Ended Ended Ended
12/31/66 12/31/67 9/30/68
1! Operating Revenues $77,685.37 $119,324.16 $124,895.39
Less: Operating Expenses 68,909.76 80,860.76 84,468.36
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Income Available for
Debt Service $ 8,775.61 $ 38,463.40 $ 40,427.03
Less : Provision for
Depreciation 16,265.75 18,850.19 17,124.82
ri Operating Income $(7,490.14) $ 19,613.21 $ 23,302.21
Water and sewer connections as of September 30, 1968 were as follows:
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Water Sewer
'* City 726 673
At WCID #21 470 470
Total 1,196 1,144111
Interest and Sinking Funds
IF The requirements of the Bond Order governing the Interest and Sinking
41 Funds on all series of bonds have been satisfied.
11 The Bond Order covering the 1957 and 1958 Series of bonds requires
that a Bond Reserve Account also be set up and that contributions be made
to this fund until such time as there is in the reserve fund an amount
equal to the average annual principal and interest requirement. In 1968,
Ifthe Water and Sewer Maintenance and Operating Fund transferred $900.00
to the Bond Reserve Account. The status of this account as of
September 30, 1968 was as follows:
11 Amount on deposit in the Bond Reserve Account $13,736.80
Average annual principal and interest
payments - 1957 and 1958 Series 18,524.04
Additional contributions due to the
Bond Reserve Account $ 4,787.24
11 Construction Program
Final inspection on Project WPC-TEX464 was made on January 10, 1968.
This project covered the installation of sanitary sewer trunk lines and
1! laterals to serve Friendswood Forrest and vicinity, Friendswood Gardens,
Eignus Addition and the relocation of existing sewer lines on Choate Road.
The project costs qualified for a grant of $47,950.00 through the Federal
11 Water Pollution Control Administration.
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„,„,,, .
Construction to provide sanitary sewer facilities for Quakers Landing
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was completed in early 1968. The Federal Water Pollution Control Adminis-
tration (through the Texas Water Quality Board) has approved a priority
grant toward 33% of the costs of this project. This federal grant should
be approximately $27,300.00 based on eligible costs charged to this project.
7!
The preliminary plans on an engineering study (Master Sewer Plan)
• were approved in 1967 by the Department of Housing and Urban Development
, for an interest-free loan. Through September 30, 1968, a total of
$41,599.45 had been advanced by HUD and expended for engineering fees
011
(P-TEx 3397).
The voters in Friendswood approved a $700,000.00 Water and Sewer
Improvements Bond Issue at an election held November 23, 1968.
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Sewer
es
1) Additions to Treatment Plant $180,000.00
2) West Interceptor Trunk Line and
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Extension to Planned High School 350,000.00
3) Sewer Lines to Serve Area South of
II Cowart Creek 105,000.00
Water
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4) Water Distribution to Serve Planned
High School 10,000.00
41/ 5) Ground Storage and Improvements to
Water Plant #3 55,000.00
Total $700,000.00
• Opinion
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In my opinion, the accompanying statements present fairly, in
accordance with generally accepted accounting principles, the financial
:r position of the City of Friendswood, Texas as of September 30, 1968 and
the results of its operations for the nine month period ended as of that
date.
li
Very truly yours,
10
46 6A,S.:,
44t/4„
10
Heloise Brown Canter
Certified Public Accountant
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CITY OF FRIENDSWOOD, TE)
STATEMENT OF COMBINED CASH RECEIPT;
11 ALL FUNDS EXCEPT UTILI
FOR THE NINE MONTHS ENDED SEPTEME
Cash Balance - January 1, 1968 $ 53
Receipts
111 Revenue
Ad Valorem Taxes - 1967 Roll $ 18
Ad Valorem Taxes - 1966 Roll
Ad Valorem Taxes - 1965 Roll
go
Penalty and Interest - Delinquent Taxes
Tax Certificates
Franchise and Gross Receipts Taxes 8,
Fines and Forfeits 2,
Building Permits 14,
Miscellaneous Other Permits
Dog Tags
11 Interest Earned
Rent
Filing Fee Permit -Sunmeadow
11 Insurance Claim - Street Repair
Miscellaneous Receipts
Total Revenue $ 46,
IP Other Receipts
Sale of Fixed Assets $
Contributions 5,.
Total Other Receipts $ 5,.
Total Receipts $ 51,'
Total Available $105,t
1: Disbursements
Operating Expenses
General and Administrative Expenses (Schedule I) $ 17,",
It Police Department Expenses (Schedule II) 13,1
Streets and Drainage Department Expenses
(Schedule III) 31,S
Miscellaneous Other Expenses (ScheduleiV) 12,2
Total Operating Expenses $ 74,5
Capital Outlay (Schedule V) $ 6,8
Total Capital Outlay $ 6,8
Other Disbursements
Payment on Fire Truck Indebtedness $ 4,1
I! Expenditures to be Reimbursed by Utility Fund 1
Payroll Taxes Payable (1,3'
Total Other Disbursements $ 2,9'
Total Disbursements $ 84,4.
Cash Balance - September 30, 1968 $ 21,1(
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4] SCHEDULE I
CITY OF FRIENDSWOOD, TEXAS
GENERAL FUND
GENERAL AND ADMINISTRATIVE EXPENSES
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1968
41
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Salaries and Wages
Mayor and Council $ 6.00
Other 8,061.19
411 Total Salaries and Wages $ 8,067.19
Employee Benefits - Group Insurance 200.00
Payroll Taxes 379.60
Insurance and Bonds 838.56
Telephone 557.70
Office Supplies and Postage 1,587.74
Maintenance - Buildings 188.49
41 Maintenance - Equipment 132.26
Miscellaneous 114.03
Engineering Fees 150.03
141/ Legal 1,075.00
Auditing 1,317.87
Dues, Subscriptions and Periodicals 326.00
11 Election Expenses 460.57
Printing and Legal Notices 52.22
Travel 115.00
Inspection Fees 1,497.80
40
Bulk Gasoline 156.09
Total General and Administrative Expenses $ 17,216.15
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41 SCHEDULE II
CITY OF FRIENDSWOOD, TEXAS
GENERAL FUND
POLICE DEPARTMENT EXPENSES
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1968
4
Salaries
Chief $5,400.00
Patrolmen 1,350.00
School Guard 1,200.00
Clerk 891.00 $ 8,841.00
4 Payroll Taxes 389.00
Warrant Expense 123.00
71 Insurance 153.00
Telephone 347.19
Office Supplies 239.38
!I Maintenance - Automobile 273.16
Maintenance - Radio Equipment 623.60
Miscellaneous 9.08
Gas and Oil 901.58
4,11 Materials and Supplies 627.89
Dues and Subscriptions 7.50
Special Instruction and Training Conference 67.20
1! Uniforms and Badges 560.08
Total Police Department Expenses $ 13,162.66
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SCHEDULE III
4
CITY OF FRIENDSWOOD, TEXAS
GENERAL FUND
STREET AND DRAINAGE DEPARTMENT EXPENSES
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1968
411
It Salaries $ 7,534.23
Payroll Taxes 331.51
Maintenance of Streets
Contract Labor 35.25
4, Materials and Supplies 19,503.01
Gas and Oil 675.05
Maintenance of Equipment 1,033.15
Electricity (Street Lights) 2,837.00
Total Streets and Drainage Department Expenses $ 31,949.20
411
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SCHEDULE IV
A
CITY OF FRIENDSWOOD, TEXAS
GENERAL FUND
MISCELLANEOUS OTHER EXPENSES
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1968
40
Comprehensive Planning Program $ 4,121.00
Sanitation and Health 765.00
Friendswood Public Library 3,290.00
Fire Department
Contribution $4,028.00
Gas and Oil - Fire Truck 53.82 4,081.82
Flood Control 5.00
11
Total Miscellaneous Expenses $ 12,262.82
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IF
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qi SCHEDULE V
CITY OF FRIENDSWOOD, TEXAS
GENERAL FUND
CAPITAL OUTLAY
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1968
40
40 General and Administrative
1 G. E. Vacuum Cleaner # V 1537 $ 37.50
1 IBM Typewriter Serial # 5471401 468.00
1 #504 Cole Legal-Size File Cabinet 92.97
41
Total General and Administrative $ 598.47
4,
Police Department
1 1968 Plymouth Pursuit Sedan
Engine # F 552 $ 2,647.00
Total Police Department 2,647.00
11
Streets and Bridges
1 1968 Ford Pickup Truck - Motor # F10ADD27398 1,822.00
t 1 Water Tank 75.00
Street Signs 544.66
MO Total Streets and Bridges 2,441.66
Other
Mosquito Control Equipment
1 Little Giant Thermal Generator
(Series #2303) With Special Fiber
Glass 100 Gallon Tank 1 1,163.91
Total Other
1,163.91
11
Total Capital Outlay $ 6,851.04
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CITY OF FRIENDSWOOD, TEXAS
WATER AND SEWER SYSTEM
STATEMENT OF INCOME AND EXPENSES
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1968
I
411
Operating Income
Water and Sewer Service Charges - City $ 58,712.67
Water and Sewer Service Charges - WCID # 21 31,412.72
Tap Fees 34,770.00
40 Total Operating Income $124,895.39
Less: Operating Deductions
41 Salaries and Wages $ 23,323.58
Payroll Taxes 1,019.49
Operating Supplies 7,025.28
Repairs - Plant 3,910.20
Repairs - Lines 2,584.39
Taps Water and Sewer 14,847.55
Laboratory Expense 454.05
Miscellaneous Expenses 152.00
Truck Expense 1,306.33
Utilities 7,445.17
Office and General Administrative Expenses 1,667.06
Insurance and Bonds 440.31
Engineering Fees 519.97
Audit Expense 1,069.13
Legal Expense 1,050.00
Payments to WCID # 21 (as per agreement) 17,653.85
Total Operating Deductions 84,468.36
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Income Available for Debt Service $ 40,427.03
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CITY OF FRIENDSWOO
STATEMENT OF COMBINED CASH RECE
1! INTEREST AND SINKI
FOR THE NINE MONTHS ENDED S
11
1957
TOTAL Serie
Cash Balance - January 1, 1968 $ 60,773.44 $ 21,824,
Receipts
ie
1967 Tax Levy $ 13,455.15 $ 4,440,
1966 Tax Levy 130.43 54.
1965 Tax Levy 231.52 97,
' ` Penalty and Interest 201.84 66.
Tax Certificate 50.82 16.
11 Interest on Time Deposit 745.63 246.
Total Receipts $ 14,815.39 $ 4,921.
11 Total to be Accounted For $ 75,588.83 $ 26,746.
Disbursements
11 Interest Paid $ 39,264.50 $ 11,900.
Bonds Retired 8,000.00 4,000.
Total Disbursements $ 47,264.50 $ 15,900.
Cash Balance - September 30,1968 $ 28,324.33 $ 10,846.
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CITY OF FRIENDSWOOD, TEXAS
STATEMENT OF COMBINED CASH RECEIPTS AND DISBURSEMENTS
41
BOND RESERVE ACCOUNT
4 FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1968
4111
1957 1958
TOTAL SERIES SERIES
41
Cash Balance - January 1, 1968 $ 12,442.19 $ 11,313.32 $ 1,128.87
Receipts
Interest Earned 394.61 359.10 35.51
Transfers
From Water and Sewer System
mi Operating Fund 900.00 819.00 81.00
Total to be Accounted For $ 13,736.80 $ 12,491.42 $ 1,245.38
7!
Disbursements
None
410
Cash Balance - September 30, 1968 $ 13,736.80 $ 12,491.42 $ 1,245.38
4
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NW
417
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141
411
011,
CITY OF FRIENDSWOOD, TEXAS
WATER AND SEWER SYSTEM
CONSTRUCTION FUND
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1968
110 Cash Balance - January 1, 1968 $ 56,220.23
Receipts
40 From Federal Agencies
Federal Water Pollution Control (WPC-TEX-464) $ 47,950.00
Department of Housing and Urban Development 36,400.00
William C. Walsh - (Refund) 181.99
41 Transfer from Water and Sewer System Operating Fund 2,600.00
Total Receipts 87,131.99
41 Total to be Accounted For $143,352.22
Disbursements
WPC-TEX 464
Mercer Construction Company $ 41,136.67
William C. Walsh 1,778.42
WPC-TEX 500
Mercer Construction Company 56 996.28
William C. Walsh 4,423.43
P-TEX 3397
Under HUD Grant 36,400.00
Other 1,121.25
U. S. Department of Housing and Urban Development 1,485.55
Total Disbursements 143,341.60
Q
Cash Balance - September 30, 1968 $ 10.62
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CITY OF FRIENDSWOOD, TEXAS nr
WATER AND SEWER SYSTEM
BALANCE SHEET
SEPTEMBER 30, 1968
p
ASSETS
p
Current Assets
Petty Cash $ 225.00
Cash on Hand 17 4.84 s
Cash in Bank 24,992.64
Accounts Receivable 15,658.33
Utility Deposits 30.00 p
Total Current Assets $ 41,080.81
■
Utility Fixed Assets
Schedule Attached 1,157,237.03
OP
Fund Accounts
Water and Sewer System Construction Fund
Cash in Bank $ 10.62 OP
Due from Federal Agencies (TEX-500) 27,300.00
Deferred Charges (Engineering Fees) 41,599.45 $ 68,910.07
Interest and Sinking Fund
Cash in Bank $28,324.33
Taxes Receivable
1967 Tax Levy $1,101.14
1966 Tax Levy 604.10 P
1965 Tax Levy 130.35 R,
1964 Tax Levy 140.75
1963 Tax Levy 158.60 r
1962 Tax Levy 19.80
1961 Tax Levy 19.80
1960 and Prior Years 89.90
Total Taxes Receivable 2,264.44
Interest Receivable 1,894.83 32,483.60
Bond Reserve Account
Cash in Bank 13,736.80 ■'
Total Fund Accounts 115,130.47
p
Total Assets $1,313,448.31
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LIABILITIES, RESERVES AND SURPLUS
41
Current Liabilities
Accounts Payable $ 5,512.41
,e Payroll Taxes Payable 962.86
Customers ' Meter Deposits 1,235.00
Total Current Liabilities $ 7,710.27
44 Fund Account Current Liabilities
Construction Fund
Accounts Payable $ 4,845.62
Due to Federal Agencies (HUD) 41,599.45 $ 46,445.07
Interest and Sinking Fund
Bond Interest Payable within
41 one Year $34,675.00
A Bonds Payable Within One Year 8,000.00 42,675.00 89,120.07
Long Term Debt
1110 Total Bonds Payable $774,000.00
Less: Bonds Due Within One Year 8,000.00
Total Long Term Debt 766 000.00
w
Reserves
For Authorized Expenditures - Water and Sewer
441 System Construction Fund $ 22,465.00
For Depreciation 65,505.39
For Retirement of Sinking Fund Bonds 11,545.40
Total Reserves 99,515.79
Contributions
By Land Owners $ 11,767.87
By Federal Agencies 237,370.28
Total Contributions 249,138.15
Surplus
Arising from Bonds Retired $ 22,000.00
Arising from Revenues of Maintenance and
Operating Fund Invested in Fixed Assets 112,098.88
$134,098.88
Unappropriated Surplus (32,134.85)
Total Surplus 101,964.03
111,
Total Liabilities, Reserves and Surplus $1,313,448.3.1
111
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114,
CITY OF
COMBINED BAL
as of S
A
COMBIN.
1411 ALL
FUNDS
4
ASSETS AND OTHER DEBITS
Assets - Other than Fixed
Petty Cash $ 250.0
Cash on Hand - Revenues Undeposited 726.9
Cash in Bank 45,612.9,
Taxes Receivable 3,067.21
4, Less: Reserve for Uncollected Taxes (3,067.2(
Accounts Receivable 15,658.3:
Utility Deposits 30.0(
Due from Utility Fund 147.7t
41 Due from Social Security Fund 1,227.02
Due from Fire Truck Fund 4,000.00
Fund Accounts
4, Water and Sewer System Construction Fund
Cash in Bank 10.62
Due from Federal Agencies 27,300.00
41 Deferred Charges (Engineering Fees) 41,599.45
Interest and Sinking Fund
Cash in Bank 28,324.33
Taxes Receivable 2,264.44
'A Interest Receivable 1,894.83
Bond Reserve Account
Cash in Bank 13,736.80
4111 Total Assets - Other Than Fixed $ 182,783.42
4
Fixed Assets
41 Land $ 27,587.95
Structures and Improvements 1,168,738.35
Machinery and Equipment 58,504.02
Construction in Progress 22,465.00
Furniture, Fixtures, Office Equipment 6,599.33
Total Fixed Assets $1,283,894.65
41 Less: Allowance for Depreciation 65,505.39
Net Fixed Assets $1,218,389.26
111
Grand Total $1,401,172.68
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11 CITY OF FRIENDSWO
COMBINED BALANCE SHEE
AS OF SEPTEMBER
COMBINED
ALL GE
FUNDS F
LIABILITIES, RESERVES & SURPLUS
Liabilities - Other than Long Term
I! Notes Payable $ 4,000.00 $ 4,1
Accounts Payable 5,364.66
Payroll Taxes Payable 2,267.58 1,.
Customers' Meter Deposits 1,235.00
Due to General Fund 5,374.77
Construction Fund Payables 46,445.07
Interest on Bonds - Payable Within
One Year 34,675.00
Bonds Payable Within One Year 8,000.00
Total Liabilities - Other than Long
Term $ 107,362.08 $ 5,:
Long Term Liabilities
Bonds Payable $ 766,000.00
Total Long Term Liabilities $ 766,000.00
Total Liabilities $ 873,362.08 $ 5,:
Other Credits
For Authorized Expenditures - Water
and Sewer System Construction Fund $ 22,465.00
Reserve for Retirement of Sinking Fund
Bonds 11,545.40
Social Security Fund Reserve 1,572.00
Contributions
By Land Owners 11,767.87
By Federal Agencies 237,370.28
Total Other Credits $ 284,720.55
Surplus
1 Arising from Bonds Retired $ 22,000.00
Arising from Revenues Invested in
Fixed Assets 167,906.85
Arising from Contributions 70,849.65
Unappropriated Surplus (17,666.45) $ 16,E
Total Surplus $ 243,090.05 $ 16,E
Grand Total $1,401,172.68 $ 21,9
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CITY OF FRIENDSWOOD, TEXAS
II ANALYSIS OF CHANGES IN UNAPPROPRIATED SURPLUS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1968
II Fire
General Truck Utility
Total Fund Fund Fund
I! Balance - January 1, 1968 $ 12,523.48 $ 51,516.85 $(7,419.55) $ (31,573.82)
II Additions
Excess of Revenues over
operating expenditures $ 12,318.22 $(28,108.81) $ 40,427.03
II Sale of Fixed Assets 455.00 5.00 450.00
Contributions Received 5,396.35 $ 5,396.35
Interest Earned on Social
Security Reserve 82.31 82.31
IITotal Additions $ 18,251.88 $(28,021.50) $ 5,396.35 $ 40,877.03
Total to be Accounted For $ 30,775.36 $ 23,495.35 $ (2,023.20) $ 9,303.21
II
Deductions
Provision for Depreciation $ 17,124.82 $ 17,124.82
II Capital Outlay 30,264.28 $ 6,851.04 23,413.24
Interest paid on indebtedness
for Fire Fighter donated to
II Friendswood Voluntary Fire
Department in 1965 152.71 $ 152.71
Transfer to Bond Reserve Account 900.00 900.00
IITotal Deductions $ 48,441.81 $ 6,851.04 $ 152.71 $ 41,438.06
Balance - September 30, 1968 $ (17,666.45) $ 16,644.31 $ (2,175.91) $ (32,134.85)
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CITY OF FRIENDSWOOD, TEXAS _
SCHEDULE ON RESERVE FOR RETIREMENT OF SINKING FUND BONDS
AS OF SEPTEMBER 30, 196811
Interest 1!
1957 1958
Total Series Series III
ifit
Cash Balance in Fund - September 30, 1968 $ 42,061.13 $ 10,846.12 $ 2,572.58
II
Additions
Taxes Receivable
11
1967 Roll $ 1,101.14 $ 363.38 $ 33.03
1966 Roll 604.10 253.73 24.16
1965 Roll 130.35 54.75 5.21
1964 Roll 140.75 68.97 7,04 II
1963 Roll 158.60 79.30 7.93
1962 Roll 19.80 13.06 1.19
1961 Roll 19.80 18.21 1.59II
1960 and Prior Years 89.90 82.71 7.19
Interest Receivable - Construction Fund 1,894.83
Total Receivable $ 4,159.27 $ 934.11 $ 87.34
II
Maximum Funds Available $ 46,220.40 $ 11,780.23 $ 2,659.92
Deductions
Bond Interest
Payment due 3-1-69 $ 17,422.50 $ 5,900.00 $ 625.00
Payment due 9-1-69 17,252.50 5,800,00 625.00
Total Deductions $ 34,675.00 $ 11,700.00 $ 1,250.00
Funds Available for Retirement
of Sinking Fund Bonds $ 11,545.40 $ 80.23 $ 1,409.92
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IAnd Sinking Fund Bond Reserve Account
1962 1963 1967 1957 1958
IfSeries Series Series Series Series
i
$ 7,326.60 $ 5,644.12 $ 1 ,934.91 $ 12,491.42 $ 1,245.38
I $ 154.16 $ 253.26 $ 297.31
126.86 199.35
I 27.37 43.02
32.37 32.37
36.47 34.90
5.55
II
1,894.83
II $ 382.78 $ 562.90 $ 2,192.14
II $ 7,709.38 $ 6,207.02 $ 4,127.05 $ 12,491.42 $ 1,245.38
Is 3,375.00 $ 3,272.50 $ 4,250.00
3,375.00 3,202.50 4,250.00
$ 6,750.00 $ 6,475.00 $ 8,500.00
II
I $ 959.38 $ (267.98) $ (4,372.95) $ 12,491.42 $ 1,245.38
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CITY OF FRIENDSWOOD, TEXAS
SCHEDULE OF GENERAL FIXED ASSETS
as of SEPTEMBER 30, 1968
II Balance Balance
1-1-68 Additions Deletions 9-30-68
Buildings
City Hall $ 76,500.00 $ 76,500.00
11 Furniture, Fixtures and Office Equipment
File Cabinets $ 186.95 $ 92.97 $ 279.92
Furniture ( Desks , Tables,Chairs) 852.13 852.13
Clary Adding Machine 160.00 160.00
11 IBM Electric Typewriter 250.00 468.00 718.00
Mimeograph Machine & Stand 730.00 730.00
Sony Tape Recorder & Stand 307.30 307.30
11 SCM Photo Copier & Stand 1,210.00 1,210.00
Furnishings - Mayor's Office 842.80 842.80
Flag Set 79.00 79.00
Civil Defense Antenna 81.20 81.20
11 Water Cooler 196.00 196.00
G. E. Vacuum Cleaner 37.50 37.50
Total Furniture, Fixtures and
11 Office Equipment $ 4,895.38 $ 5,493.85
A
Police Department
1965 Ford Car $ 2,487.42 $ 2,487.42*
Radio Equipment 3,634.31 32.18 $ 3,602.13
Emergency Warning Light 65.00 65.00
Radar Unit 732.85 732.85
1968 Plymouth Pursuit Sedan 2,647.00 2,647.00
Miscellaneous Police Equipment 148.40 148.40
Office Furniture and Equipment 105.18 105.18
• Total Police Department
Equipment $ 7,173.16 $ 7,300.56
ill Streets and Bridges
Street Improvement $ 28.80 $ 28.80
Street Signs 3,880.90 544.66 4,425.56
Right-o-Ways 4,771.50 4,771.50
mil
Castlewood Bridge 5,100.71 5,100.71
Equipment
International Tractor with
411 Mowers 3,302.00 3,302.00
1967 Ford 2-Ton Dump Truck 3,979.32 3,979.32
Used Caterpillar Grader 9,200.00 9,200.00
„, 1968 Ford Pick-Up 1,822.00 1,822.00
Miscellaneous Other Equipment 200.00 75.00 275.00
'' Total Streets and Bridges $ 30,463.23 $ 32,904.89
i * Transfer
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SCHEDULE OF GENERAL FIXED ASSETS
- continued -
II Balance Balance
1-1-68 Additions Deletions 9-30-68
Ir Other
1965 Ford Car $ 2,487.42* $ 2,487.42
Jail Bunks $ 492.49 492.49
Dog Pound 314.50 314.50
Mosquito Control Equipment 1,163.91 1,163.91
Total Other $ 806.99 $ 4,458.32
I
Total General Fixed Assets $ 119,838.76 $ 9,338.46 $ 2,519.60 $ 126,657.62
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* Transfer
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CITY OF FRIENDSWOOD, TEXAS
1 WATER AND SEWER SYSTEM
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
as of SEPTEMBER 30, 1968
11
Balance Balance
1-1-68 Additions Deletions 9-30-68
ItLand $ 27,587.95 $ 27,587.95
Total Land $ 27,587.95 $ 27,587.95
IIStructures and Improvements
Water Plants $ 143,344.10 $ 817.93 $ 144,162.03
Water Distribution 271,150.64 5,905.37 277,056.01
II Sewage Collection System 184,736.32 273,731.23 458,467.55
Sewage Plants 190,556.01 213.75 190,769.76
Laboratory 6,519.55 129.89 6,649.44
IITotal Structures and Improvements$ 796,306.62 $1,077,104.79
Construction in Progress $ 265,658.01 30,751.97 $273,944.98 $ 22,465.00
IITotal Construction in Progress $ 265,658.01 $ 22,465.00
Other
Office Furniture and Fixtures $ 3,637.48 468.00 $ 4,105.48
II Machinery and Equipment
Truck 5,680.42 1,862.15 2,790.42 4,752.15
Radio Equipment 987.93 987.93
II Tools 1,333.73 1,333.73
Link Belt Ditching Machine 15,200.00 15,200.00
Backhoe 6,050.00 150.00 6,200.00
Utility Pump 1,500.00 1,500.00
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$ 31,901.63 $ 34,079.29
Less: Bonds Matured Prior
to acquisition 4,000.00 4,000.00
11 Total Other $ 27,901.63 $ 30,079.29
Total Property, Plant and Equip-
!' ment $1,117,454.21 $316,518.22 $276,735.40 $1,157,237.03
Source of Funds
II From Bonds Assumed $ 596,000.00
From Maintenance and Operating Account 112,098.88
From General Obligation Bonds Issued 200,000.00
From Contributions by Land Owners 11,767.87
IIFrom Federal Agencies 237,370.28
Total $1,157,237.03
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CITY OF FRIENDSWOOD, TEXAS
II STATEMENT OF BONDS PAYABLE
SEPTEMBER 30, 1968
11 Amount Maturity
of Interest Bonds
Name of Issue Issue Date Rate Amount Outstanding
1rWATER AND SEWER SYSTEM
Galveston County Water Control
II & Improvement District #15 Bonds-
dated July 1, 1957
Bonds assumed under City
Ordinance #51A as of 12-1-64 $246,000 $ 236,000.00
II
Bonds maturing March 1, 1976 3-1-69 5.00% $ 4,000
and thereafter, are redeemable 3-1-70 5.00 4,000
II in whole or in part in inverse 3-1-71 5.00 4,000
numerical order, on March 1, 1975 3-1-72 5.00 5,000
or any interest payment date 3-1-73 5.00 5,000
II thereafter at par and accrued 3-1-74 5.00 5,000
interest. 3-1-75 5.00 6,000
3-1-76 5.00 6,000
3-1-77 5.00 7,000
11 3-1-78 5.00 7,000
3-1-79 5.00 7,000
3-1-80 5.00 7,000
II 3-1-81 5.00 8,000
3-1-82 5.00 8,000
3-1-83 5.00 10,000
II 3-1-84 5.00 10,000
3-1-85 5.00 11,000
3-1-86 5.00 11,000
3-1-87 5.00 12,000
II 3-1-88 5.00 12,000
3-1-89 5.00 13,000
3-1-90 5.00 14,000
11 3-1-91 5.00 15,000
3-1-92 5.00 20,000
3-1-93 5.00 25,000
11 Galveston County Water Control
& Improvement District #15 Bonds-
dated July 1, 1958
11 Bonds assumed under City
Ordinance #51A as of 12-1-64 $25,000 25,000.00
3-1-94 5.00% 25,000
11 Bonds are redeemable in whole or
in part, in inverse numerical order,
on March 1, 1975 or any interest
payment date thereafter at par and
11 accrued interest.
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STATEMENT OF BONDS PAYABLE
II - continued -
IIGalveston County Water Control
& Improvement District #15 Bonds-
dated October 1, 1962
I Bonds assumed under City
Ordinance #51A as of 12-1-64 $150,000 $ 150,000.00
3-1-95 4.50% $30,000
1 Bonds are optional on March 3-1-96 4.50 30,000
1,1981 or on any interest 3-1-97 4.50 30,000
payment thereafter at par 3-1-98 4.50 35,000
and accrued interest. 3-1-99 4.50 25,000
II
Galveston County Water Control
& Improvement District #15 Bonds-
II dated October 1, 1963
Bonds assumed under City
Ordinance #51A as of 12-1-64 $175,000 163,000.00
II
3-1-69 3.50 4,000
Bonds maturing March 1, 1982 3-1-70 3.50 4,000
and thereafter, are redeemable 3-1-71 3.50 5,000
in whole or in part, in inverse 3-1-72 3.50 5,000
II numerical order, on March 1, 1981 3-1-73 3.50 5,000
or any interest payment date 3-1-74 3.50 5,000
thereafter at par and accrued 3-1-75 3.50 5,000
II interest. 3-1-76 3.50 6,000
3-1-77 3.50 6,000
3-1-78 3.50 6,000
II 3-1-79 4.25 6,000
3-1-80 4.25 6,000
3-1-81 4.25 7,000
3-1-82 4.25 7,000
II 3-1-83 4.25 7,000
3-1-84 4.25 7,000
3-1-85 4.25 7,000
II 3-1-86 4.25 8,000
3-1-87 4.25 8,000
3-1-88 4.25 9,000
11 3-1-89 4.25 10,000
3-1-90 4.25 10,000
3-1-91 4.25 10,000
3-1-92 4.25 10,000
ICity of Friendswood Sewer
Improvement Bonds
11 dated March 1, 1967 $200,000 200,000.00
3-1-71 5.00 5,000
3-1-72 5.00 5,000
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STATEMENT OF BONDS PAYABLE
- continued -
II
Bonds maturing March 1, 1983 3-1-73 5.00% $ 5,000
and thereafter, are optional 3-1-74 5.00 5,000
11 in whole or in part, on 3-1-75 4.10 10,000
March 1, 1982 or any interest 3-1-76 4.10 10,000
payment date thereafter at 3-1-77 4.10 10,000
par and accrued interest. 3-1-78 4.10 10,000
3-1-79 4.10 10,000
3-1-80 4.10 10,000
3-1-81 4.20 15,000
3-1-82 4.20 15,000
3-1-83 4.20 15,000
3-1-84 4.20 15,000
3-1-85 4.20 15,000
3-1-86 4.20 15,000
3-1-87 4.20 15,000
3-1-88 4.20 15,000
IITotal Bonds Payable $ 774,000.00
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CITY OF FRIENDSWOOD, TEXAS
11 STATEMENT OF BOND MATURITIES AND INTEREST REQUIREMENTS
II
Total Total Total
Fiscal Year Bond Interest Principal and
Ending Maturities Requirements Interest Requirements
9-30-69 $ 8,000.00 $ 34,675.00 $ 42,675.00
9-30-70 8,000.00 34,335.00 42,335.00
9-30-71 14,000.00 33,852.50 47,852.50
I 9-30-72 15,000.00 33,202.50 48,202.50
9-30-73 15,000.00 32,527.50 47,527.50
9-30-74 15,000.00 31,852.50 46,852.50
9-30-75 21,000.00 31,072.50 52,072.50
I! 9-30-76 22,000.00 30,170.00 52,170.00
9-30-77 23,000.00 29,225.00 52,225.00
9-30-78 23,000.00 28,255.00 51,255.00
11 9-30-79 23,000.00 27,262.50 50,262.50
9-30-80 23,000.00 26,247.50 49,247.50
9-30-81 30,000.00 25,076.25 55,076.25
II 9-30-82 30,000.00 23,748.75 53,748.75
9-30-83 32,000.00 22,371.25 54,371.25
9-30-84 32,000.00 20,943.75 52,943.75
9-30-85 33,000.00 19,491.25 52,491.25
11 9-30-86 34,000.00 17,992.50 51,992.50
9-30-87 35,000.00 16,447.50 51,447.50
9-30-88 36,000.00 14,856.25 50,856.25
9-30-89 23,000.00 13,512.50 36,512.50
9-30-90 24,000.00 12,412.50 36,412.50
9-30-91 25,000.00 11,262.50 36,262.50
9-30-92 30,000.00 9,962.50 39,962.50
9-30-93 25,000.00 8,625.00 33,625.00
9-30-94 25,000.00 7,375.00 32,375.00
9-30-95 30,000.00 6,075.00 36,075.00
II 9-30-96 30,000.00 4,725.00 34,725.00
9-30-97 30,000.00 3,375.00 33,375.00
9-30-98 35,000.00 1,912.50 36,912.50
11 9-30-99 25,000.00 562.50 25,562.50
11 $774,000.00 $613,405.00 $1,387,405.00
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CITY OF FRIENDSWOOD, TEXAS
11 SCHEDULE OF INSURANCE IN FORCE
OCTOBER 1, 1968
II
Aetna Insurance Company
Policy Number 61s68o4 BC
I Term January 5, 1968 to January 5, 1969
Kind Supervisors Bond - Drainage District
Premium $18.00
I! Person Covered James Butler Shore
Amount of Coverage $5,000
Policy Number 61S5100 BC
IITerm January 25, 1968 to January 25, 1969
Kind Supervisors Bond - Drainage District
Premium $18.00
II Person Covered Myron Worden
Amount of Coverage $5,000
II Policy Numbers 61S10070; 5lSlOO72
Term January 26, 1968 to January 26, 1969
Kind Supervisors Bonds - Drainage District
Premium $36.00
IIPersons Covered Frazier Coffie; Kenneth Truman
Amount of Coverage $5,000 each
II Policy Number 61S5979 BC
Term April 25, 1968 to April 25, 1969
Kind Tax Assessor - Collector's Bond
II Premium $50.00
Person Covered Laurence Byron Cline (Tax Assessor)
Amount of Coverage $10,000
IIPolicy Number 61s9185
Term May 8, 1968 to May 8, 1971
Kind Public Employees Blanket Bond
II Premium $304.00
Persons Covered City Employees
Amount of Coverage $10,000
IIAmerican and Foreign Insurance
Company (Royal Globe)
Policy Number LU 45-64-02
II Term October 1, 1968 to October 1, 1969
Kind Comprehensive General Liability
Premium $1,161.00 (Estimated)
11 Coverage Bodily Injury Liability
$100,000 each person
200,000 each occurrence
II 200,000 aggregate
Property Damage Liability
$ 5,000 each occurrence
25,000 aggregate
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SCHEDULE OF INSURANCE IN FORCE
- continued -
11 American and Foreign Insurance
Company
Policy Number ACS 10-64-78
11 Term October 1, 1968 to October 1, 1969
Kind Workmen's Compensation and Employer's Liability
Premium $1,685.00 (Estimated)
Persons Covered Waterworks Operation; Sewage Disposal Plant
Operations; Street and Road Construction;
Irrigation or Drainage System Construction;
Municipal, County, or State Employees; Clerical
Office Employees; Policemen; Voluntary Compensa-
tion Personnel (Policemen, Mayor and City
Councilmen)
Amount of Coverage Bodily Injury
$100,000 each employee
100,000 each accident
11 Royalty Indemnity Company
Policy Number 47-55-71
Term October 1, 1968 to October 1, 1969
11 Kind Honesty Blanket Bond Coverage
Premium $81.00
Persons Covered City Employees
11 Amount of Coverage $10,000
Royalty Indemnity Company
Policy Number LU 45-65-07
11 Term October 1, 1968 to October 1, 1969
Kind Automobile Liability Policy
Premium $1,099.00
11 Amount of Coverage Bodily Injury Liability
1968 Ford 1/2 ton pickup truck
1968 Ford 1/2 ton pickup truck
11 1966 Ford 1 ton stake truck
1967 Ford 1 1/2 ton dump truck
1965 Ford Sedan
$ 50,000 each person
!I 100,000 each occurrence
1968 Plymouth Police Car
$ 10,000 each person
11 20,000 each occurrence
Property Damage Liability
1968 Ford 1/2 ton pickup truck
1968 Ford 1/2 ton pickup truck
1966 Ford 1 ton stake truck
1967 Ford 1 1/2 ton dump truck
1965 Ford Sedan
$ 10,000 each occurrence
1968 Plymouth Police Car
$ 5,000 each occurrence
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II
SCHEDULE OF INSURANCE IN FORCE
I! - continued -
II Policy LU 45-65-07 (Continued)
Uninsured Motorists
$ 10,000 each person
20,000 each accident
IIPhysical Damage
Collision - $100 Deductible
Fire, Theft and Combined Additional Coverage
11 Actual Cash Value
Royalty Indemnity Company
II Policy Number Binder
Term October 1, 1968 to October 1, 1969
Kind Contractors Equipment Coverage - All Risk Form
II Premium $375.00
Coverage 1) Link Belt Hydra-X-Cator ($15,000)
Deductible - $300
2) Front-End Loader ($ 3,600)
II Deductible - $100
3) Caterpillar Tractor ($ 9,200)
Deductible - $100
IIFidelity and Guaranty Insurance Underwriters, Inc.
Policy Number OF2627
11 Term October 1, 1965 to October 1, 1970
Kind Fire, Lightning, Extended Coverage, Vandalism
and Malicious Mischief
Premium $1,928.00
II Amount of Coverage 1) $90,000 (90% Co-insurance)
All buildings including City Hall, All-steel
Water Tank and Tower, Chlorination Building,
II Outside Electrical Panel and Outside Site
Improvements
2) $ 5,000
II Contents, City Hall and Fire Department
3) $ 500
Contents, Chlorination Building
I Aetna Life Insurance Company
Policy Number 103965 (Group Policy)
Effective Date July 29, 1968
II Kind Group Life Insurance; Basic plus Major Medical
plan Insurance
Persons Covered All Employees
II Coverage Life Insurance
$2,000 Term Life Insurance
2,000 Accidental Death and Dismemberment
Medical Insurance
II $ 20 Hospital Room Daily Maximum
$20,000 Major Medical Maximum Benefits
($100 Deductible)
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