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Home My WebLink About1983 04 30 Financial Report - Clearwoods Improvement District (3) 41 Schedule A=7 CLEARWOODS IMPROVEMENT DISTRICT 41 ANALYSIS OF CHANGES IN GENERAL FIXED ASSETS APRIL 30, 1983 141 411 May 1, 1982 *Reductions April 30, 1983 Drainage System $ 608 329 $ 608 329 41 Sewer System 1 289 873 $ (21. 068) 1 268 805 Water System 653 800 653 800 4 Engineering 255 027 255 027 ! Land 29 622 29 622 TOTAL $2 836 651 $ (21 068) $2 815 583 41 4 Amounts Provided By: 7 General Fund $ 105 920 $ 105 920 , 411 Capital Projects Fund 2 727 231 $ (21 068) 2 706 163 Contributed by Developers 3 500 3 500 41 $2 836 651 $ (21 068) $2 815 583 40 7! *The reduction of $21,068 relates to the settlement by the District during 1982 of an amount previously disputed related to the 1981 expansion of the Blackhawk Regional Sewage Treatment Plant. See Note (11) . 41 qtt RI 1110 25 4, w MI 4 Percent of Fund Totals 1980 1979 1983 1982 1981 1980 1979 4111 $227 463 $193 956 87.1% 68.1% 94.4% 87.5% 90.0% 10 552 13 580 9.4 30.0 1.3 4.1 6.3 21 964 7 874 2.6 1.9 4.3 8.4 3.7 WR - .9 - - - - 259 979 215 410 100.0 100.0 100.0 100.0 100.0 RR - - 18.7 29.8 - -• - 24 979 22 250 6.4 6.1 8.3 9.6 10.3 40 42 434 37 275 18.4 17.3 25.8 16.3 17.3 2 540 2 230 1.3 0.5 1.2 1.0 1.0 112 136 94 873 35.7 32.0 62.0 43.1 44.0 'R 4 545 6 325 1.9 0.5 0.9 1.7 2.9 4 186 634 162 953 82.4 86.2 98.2 71.7 75.5 IRO 4 $ 73 345 $ 52 457 17.6% 13.8% 1.8% 28.3% 24.5% ' * $289 630 $275 212 94.6% 95.5% 92.7% 94.3% 93.2% 5 264 3 258 1.7 2.4 0.7 1.7 1.1 file 12 197 16 868 3.7 2.1 6.6 _ 4.0 - 5.7 307 091 295 338 100.0 100.0 100.0 100.0 100.0 gi 8 900 11 132 4.7 3.4 3.2 2.9 3.8 168 693 169 644 52.0 54.4 52.6 54.9 57.4 75 000 65 000 35.6 27.6 25.6 24.4 22.0 lit 252 593 245 776 92.3 85.4 81.4 82.2 83.2 4111 $ 54 498 $ 49 562 7.7% 14.6% 18.6% 17.8% 16.8% 114 $187 260 $189 403 IR 1.89 1.67 MR 1 210 1 117 440 122 346 146 404 RR 112 372 139 432 27 411 1/1 Type of Policy Corporation Clause Insurer Stock/Mutual Co-Insurance National Surety Corporation Stock Yes 80% 4111 The St. Paul Insurance Company Stock No 141 The St. Paul Insurance Company Stock No National Flood Insurers Corporation Stock Yes 80% 4 MI National Surety Corporation Stock No 4 411 411 41 4 11110 29 gip 414 w QUESTIONNAIRE COMPLETED BY AUDITOR 411 41 401 411 411 tw Scheule A-11 CLEARWOODS IMPROVEMENT DISTRICT M QUESTIONNAIRE TO BE COMPLETED BY AUDITOR FOR THE YEAR ENDED APRIL 30, 1983 401 111 1. At the time that you were engaged by the Board of Directors of the above named district to perform this audit, was a copy of the Water District Accounting Manual made available to you? X Yes No 110 2. The Water District Accounting Manual prescribes accounting methods and policies. After taking these into consideration, MO did the local water district: 41, a. Maintain a proper classification of expenditures and revenues? X Yes No b. Record expenditures and revenues according to GAAP and 411 consistent with the type of accounting system utilized? X Yes No qm c. Maintain the double-entry system of accounting? X _ Yes No 141. d. Keep a general ledger in accordance with the uniform classification of general ledger accounts prescribed in the Water District Accounting Manual? X Yes No 111 e. Adhere to other provisions of the Water District Accounting Manual? X 410 Yes No 3. Did the Board of Directors of the water district impose on you 110 any audit requirements in addition to those stated in the Annual Audit Report Requirements? X Yes No A 4. Did you identify, during the course of your examination of the financial statements of the water district, any areas pertaining to accounting matters in which action should be taken by the 410 Board of Directors of the water district? X Yes No 5. Did you obtain representation from the Board of Directors of the water district that all records of the water district were made available to you for your examination? X Yes No 6. Did the water district: a. Use the capital projects fund and debt service fund only for the purposes authorized by the Board of Directors of the water district and/or within the provisions of the applicable 4110 bond resolutions? .X 33 Yes No CLEARWOODS IMPROVEMENT DISTRICT 40 QUESTIONNAIRE TO BE COMPLETED BY AUDITOR FOR THE YEAR ENDED APRIL 30, 1983 Continued IVO MI c. Is there evidence indicating that your previous year's recommendations have been or are being implemented? X 40 Yes No 44 gu d. Has a copy of the management letter been filed with the ''mo Texas Department of Water Resources? X Yes No 11 8. The Texas Water Code makes specific provisions relating to security provided by depository banks. After consideration 40 of the applicable laws pertaining to the specific water district, koo did the depository bank provide adequate security of the correct type? X 40 Yes No mg Please indicate for each depository: S a. Name Texas Commerce Community Commonwealth Bank Nat'l Bank Savings 40 b. Amount of coverage $500 000.00 $100 000.00 $100 000.00 41 c. Amount of bond or other security pledged 7! as of the end of the - - - fiscal year 41 d. Largest cash balance $130 832.72 $ 57 202.36 $ 75 958.42 4 e. Date of largest cash balance 12-17-82 03-31-83 02-28-83 f. Amount of bond or security pledged at the time of the largest cash balance (exclud- ing F.D.I.C. coverage) Ni 35 44 CLEARWOODS IMPROVEMENT DISTRICT 41 QUESTIONNAIRE TO BE COMPLETED BY AUDITOR FOR THE YEAR ENDED APRIL 30, 1983 Continued 40 12. We (check one) : 46 a. Actually examined the records of the tax assessor-collector. X 41 b. Received written confirmation for tax data from the tax assessor-collector. 0 c. Accepted tax data furnished by the district's office. 41 13. As a result, were local tax revenues (including delinquent taxes and interest and penalties on taxes) properly separated for debt service? X 41 Yes No 14. Was the water district in compliance with applicable bond # resolutions, with the general or special legislation under which the district was created and with specific statutes excerpted and included in the Legal Compliance Guidelines in Section 70-03-1 of the Water District Accounting Manual? X* Yes No 41 *The District bond resolutions require a complete engineering inspection report annually. A complete inspection report has not been made, however, specific engineering reports are made and the Engineer is consulted for all additions and expansions. The provisions of the bond resolutions relating to debt service requirements have not been met. The bond Orders state that the District is to transfer on 41 a monthly basis to the Debt Service Fund, commencing when any part of the water and sewer system is placed in operation, an amount not less than one-sixth of the next maturing installment of interest and an amount not less than one- twelfth of the next maturing installment of the principal. In addition, an ,I amount equal to 20% of such monthly payments is to be paid to the Debt Service Fund until the balance is equal to the total principal and interest requirements for the current year and the next succeeding year. At the Balance Sheet date, 40 the Operating and Tax Fund Revenues have not been sufficient to make payments required by the Bond Order. However, the ad valorem tax levied by the District and the restricted cash and temporary investments have been sufficient to meet the annual bond principal and interest payments in the past and there is no indication that the requirements will not be met in the future. 44 0 37 U 0 S S U MN 44 OM U CERTIFICATE OF THE BOARD OF DIRECTORS 4 40 4N 4. & . 110 414 i 41111 � . U Schedule A-12 11 IN 0111 CERTIFICATE OF THE BOARD OF DIRECTORS CLEARWOODS IMPROVEMENT DISTRICT Harris ` Name of Water District I 40 We, the undersigned, do hereby certify that the audit report of the above named water district for the fiscal year ended April 30, 1983 was received by the Board of Directors on the 8th day of August , 1933 and was reviewed and /x/ approved / / disapproved at a meeting of the Board of Directors on the ery of Ccptcmber , 1983. tom t iele6eC-- Signature of Boar 5 • ,i.ry Signature ref Board _ - r oi MANAGEMENT LETTER 4111 4111 111 N EEDLOVE oco CERTIFIED PUBLIC ACCOUNTANTS 1.1 RICHARD W.BREEDLOVE DONN A.LAND 3730 F.M.1960 West,Suite 300 363 North Belt,Suite 450 Houston,Texas 77068 Houston,Texas 77060 (713)440-3347 (713)448-2221 August 1, 1983 11 Board of Directors Clearwoods Improvement District Harris County, Texas RE: Year ended April 30, 1983 Dear Board Members: We have examined the financial statements of the above named District. As part of our examination, we made a study and evaulation of the District's System of internal accounting control to the extent we considered necessary to evaluate the system as required by generally accepted auditing standards. Under these standards, the purpose of such evaluation is to establish a basis for reliance thereon in determining the nature, timing, and extent of 11 other auditing procedures that are necessary for expressing an opinion on the financial statements. There are inherent limitations that should be recognized in considering the potential effectiveness of any system of internal accounting control. Pro- jection of any evaluation on internal accounting control to future periods is subject to the risk that the procedures may become inadequate because of I changes in conditions and that the degree of compliance with the procedures may deteriorate. Our study and evaluation of the District's system of internal accounting control for this specific year ended, which was made for the purposes set forth in the first paragraph above was not designed for the purpose of ex- pressing an opinion on internal accounting control, and it would not neces- 11 sarily disclose all weaknesses in the system. No major internal control weaknesses were noted during the examination of the District's financial statements for the period then ended. 4! Very truly yours, 4/-4/‘-‘00--0--- 4 Richard W. Breedlove 4! 11 41