HomeMy WebLinkAbout1967 12 31 Financial Report - City of Friendswood I
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CITY OF FRIENDSWOOD, TEXAS
FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED
DECEMBER 31, 1967
ELECTED OFFICIALS
MAYOR
Ralph L. Lowe
CITY COUNCIL
tMarvin L. Childers
Wiley W. Murrell
' Rallh W. Somers
Edward F. Stuart
Thomas F. Woods
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L. B. Cline Tax Assessor and Collector
Mrs. Artha Wright City Secretary
P. 0. Box 122
Friendswood, Texas
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11 TABLE OF CONTENTS
Page
Letter of Transmittal
IIStatement of Combined Cash Receipts and Disbursements
All Funds Except Utility Fund 1
IIGeneral Fund - Operating Expenses
General and Administrative Expenses - Schedule I 2
II Police Department Expenses - Schedule II 3
Street and Drainage Department Expenses - Schedule III 4
Miscellaneous Other Expenses - Schedule IV 5
IICapital Expenditures - Schedule V 6
Comparison of the Budget with the Actual Receipts and
1 Disbursements - General Fund 7
Water and Sewer System - Statement of Income and Expenses 8
11 Statement of Combined Cash Receipts and Disbursements
Interest and Sinking Funds 9
II Statement of Combined Cash Receipts and Disbursements
Bond Reserve Account 10
11 Statement of Cash Receipts and Disbursements
Water and Sewer System Construction Account 11
11 Balance Sheet - Water and Sewer System 12 & 13
Balance Sheet - All Funds 14 & 15
11 Analysis of Changes in Unappropriated Surplus 16
Schedule on Reserve for Retirement of Sinking Fund Bonds 17 & 18
11 Schedule of General Fixed Assets 19
11 Schedule of Property, Plant and Equipment - Water & Sewer System 20
Statement of Bonds Payable 21, 22 & 23
11 Statement of Bond Maturities and Interest Requirements 24
Schedule of Insurance in Force 25,26 & 27
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HELOISE BROWN CANTER
CERTIFIED PUBLIC ACCOUNTANT
1101 Memorial Professional Building
HOUSTON, TEXAS 77002
March 27, 1968
Honorable Mayor and City Council
City of Friendswood, Texas
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I have examined the recorded cash receipts and disbursements of the
CITY OF FRIENDSWOOD, TEXAS for the fiscal year ended December 31, 1967.
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 together with
such other procedures as I considered necessary under the circumstances.
I 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 following is a summary of the cash receipts and disbursements of
the General Fund for the fiscal years ended December 31, 1966 and 1967.
12-31-66 12-31-67
' Revenues - Operating $79,243.68 $101,5d0.23
Receipts - Other 5,160.60 5,820.00
1 Total Receipts $84,404.28 $107,400.23
Disbursements
Operating Expenses $54,561.43 $ 82,441.91
Capital Expenditures 15,007.29 17,876.87
1 Total Disbursements $69,568.72 $100,318.78
Excess of Receipts over
1 Disbursements $14,835. 56 $ 7,081.45
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1 Taxes
11 By City Ordinance #51A, passed and approved on December 21, 1964, the
City of Friendswood elected, under the provision of the state law governing,
to absorb the Galveston County WCID #15. Taxes levied by them and unpaid as
of December 31, 1964 were assigned to the City of Friendswood.
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The City of Friendswood levied taxes for the first time on October 1,
1964. The 1964 tax levy covered only general fund operating expenditures
II inasmuch as the Galveston County WCID #15 had made its own levy in 1964 to
cover requirements of the bonded indebtedness of its system.
1 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 :
1965 1966 1967
General Fund Operations $ 0. 58 $ '5764 $ 0.58
I Interest & Sinking Fund 0.42 0.336 0.42
Total $ 1.00 $ 1.00 $ 1.00
11 Taxes levied and collections thereon are as follows:
1965 1966 1967
11 Assessed Valuation -October 1 $8,231,591 $10,455,650 $11, 526,960
Taxes Assessed $82,315.91 $104,556.50 $115,269.60
I Collections to 12/31 $52,070.30 $ 60,147.93 $ 79,669.41
Total Collections 81,454.29 102,369.64
II % Collected to 12/31 63.26% 57.53% 69.12%
Total Collections 98.95% 97.91%
11 Fire Truck Fund
At a special meeting held October 20, 1965, the City assumed financial
II responsibility for a HPV 750 John Bean High Pressure Fog Fighter which was
donated to the Friendswood Voluntary 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.
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In 1967, contributions totaling 86,319.91 were received. On December 31,
1967, there was a cash balance of $559. 50 in the Fire Truck Fund and a
11 balance due on the note of $7,979.05.
Water & Sewer System
IThe following is a summary of income and expenses of the Water & Sewer
System for 1966 and 1967:
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1966 1967
Operating Revenues $ 77,685. 37 $119,324.16
Less: Operating Expenses 68,909.76 80,860.76
11 Income Available for Debt Service $ 8,775.61 $ 38,463.40
Less : Provision for Depreciation 16,265.75 18,850.19
IrOperating Income $ (7,490.14) $ 19,613.21
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As of December 31, 1967, there were 993 water connections and 902
sewer connections.
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Interest and Sinking Funds
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The requirements of the Bond Order governing the Interest and Sinking
Funds on all series of bonds have been satisfied.
1 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
I! equal to the average annual principal and interest requirements. In 1967,
the Water and Sewer Maintenance and Operating Fund transferred $1,800.00
to the Bond Reserve Account. The status of this account as of December 31,
11 1967 was as follows:
Amount on deposit in the Bond Reserve Account $12,442.19
11 Average annual principal and interest
payments - 1957 and 1958 Series 18,473.15
Additionalosntributions due to the
Bond Reserve Account $ 6,030.96
WCID #21
In 1967, a majority of the qualified voters in WCID #21 voted in favor
of annexing their territory to the City of Friendswood. This territory
lies adjacent and contiguous to the City of Friendswood. However, because
of legal complications in regard to ninety-five acres, state legislative
action must be taken for a separation of this from the area to be annexed.
The City of Pearland is working with the City of Friendswood to satisfy
all legal requirements to allow the Board of WCID #21 to be dissolved and
the city to absorb the district.
Construction Program
Under date of March 1, 1967, the City of Friendswood issued $200,000
Sewer Improvement Bonds (Series 1967). These bonds are payable from ad
11 valorem taxes levied against all taxable property within the city.
On May 15, 1967, a contract was let for the installation of sanitary
sewer trunk lines and laterals to serve Friendswood Forrest and vicinity,
11 Friendswood Gardens, Eignus Addition and for the relocation of existing
sanitary sewer lines on Choate Road. The Federal Water Pollution Control
Administration has approved a grant of $56,090 toward these project costs.
(WPC-Tex 464)
Construction was also begun to provide sanitary sewer facilities
for Quakers Landing. Application has been made for federal assistance
in the construction of these facilities. (W pC-Tex 500)
11[ The preliminary plans on an engineering study (Master Sewer Plan)
were approved by the Department of Housing and Urban Development for an
interest-free government loan. The first advance under this project
(P-Tex 3397) was received in October 1967 and was in the amount of $6,685.00.
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Other
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The City also entered into an Urban Planning Contract under date of
August 25, 1967 with the Texas State Department of Health, Bovay Engineers
1 and William C. Walsh. Under this contract, Bovay Engineers will prepare a
comprehensive general plan to guide the development of the city for the
forthcoming twenty-five years. The city's liability under this contract is
1 $6,221.00. Payments made in 1967 under this contract totaled $2,100.00. The
balance of $4,121.00 will be due in 1968.
1 Opinion
In my opinion, the accompanying statements present fairly, in accordance
with generally accepted accounting principles, the financial position of the
City of Friendswood, Texas as of December 31, 1967 and the results of its
operations for the fiscal year then ended.
Very truly yors,
Heloise Brown Canter
Certified Public Accountant
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CITY OF FRIENDSWOOD, TEx
II STATEMENT OF COMBINED CASH RECEIPTS
ALL FUNDS EXCEPT UTIL]
FOR THE FISCAL YEAR ENDED DECEMF
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Cash Balance - January 1, 1967 $ 46,1s
I Receipts
Revenue
Ad Valorem Taxes - 1967 Roll $ 46,2(
II Ad Valorem Taxes - 1966 Roll 28,0
Ad Valorem Taxes - 1965 Roll 4'
Ad Valorem Taxes - 1964 Roll if
11 Penalty and Interest - Delinquent Taxes 5
Tax Certificates 1
Franchise and Gross Receipts Taxes 8,3
Fines and Forfeits 3,4
II Building Permits 11,7
Miscellaneous Other Permits
Dog Tags 1
II Interest Earned 7
Rent 9
Friendswood ISD (School Guard) 6
II Miscellaneous Other Receipts
Total Revenue S101,5
Other Receipts
Sale of Fixed Assets $ 1
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Contributions - General Fund (Streets) 5,7
Contributions - Fire Truck Fund 6, ;
Total Other Receipts S 12,1
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Total Receipts $113,7
Total Available $159,S
IDisbursements
Operating Expenses
General and Administrative Expenses (Schedule I) $ 23,`
II Police Department Expenses (Schedule II) 12,
Streets and Drainage Department Expenses
(Schedule III) 36,E
1 Miscellaneous Other Expenses (Schedule IV)
Payment on Fire Truck Indebtedness 5,'
Total Operating Expenses 8 ,.
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Capital Outlay (Schedule V) 17,
Total Capital Outlay $ 17;,
Total Disbursements $106,:
IICash Balance - December 31, 1967 $ 53,
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SCHEDULE I
11 CITY OF FRIENDSWOOD, 'TEXAS
GENERAL FUND
GENERAL AND ADMINISTRATIVE EXPENSES
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1967
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Salaries and Wages
Mayor and Council $ 6.00
Other 8,592.94
Total Salaries and Wages $ 8,598.94
Insurance and Bonds 1,705.76
Telephone 645.77
Office Supplies and Postage 1,658.07
Maintenance - Building 177.81
Maintenance - Equipment 363.00
Payroll Taxes 1,064. 57
Miscellaneous 225.60
Legal 2,829.33
Accounting Fees 1,055.63
11 Dues, Subscriptions and Periodicals 378.87
Election Expenses 336.00
Printing and Legal Notices 530.84
Inspection Fees 1,024.40
Tax Appraisal 2,650.00
Bulk Gasoline 319.73
Total General and Administrative Expenses $23,564.32
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CITY OF FRIENDSWOOD, TEXAS
GENERAL FUND
POLICE DEPARTMENT EXPENSES
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1967
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11 Salaries
Chief $6,662. 50
Patrolmen 1,440.00
School Guard 273.37
Total Salaries $ 8,375.87
Warrant Expense 98.00
11 Insurance 189.00
Telephone 436.98
Office Supplies 142.59
Maintenance - Automobile 903.77
Maintenance - Radio Equipment 44.17
Gas and Oil 949.36
1 Materials and Supplies 866.87
Special Instruction and Training Conference 121.52
Uniform and Badges 736.00
Miscellaneous 18.00
Total Police Department Expenses $12,882.13
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11 SCHEDULE III
CITY OF FRIENDSWOOD, TEXAS
GENERAL FUND
STREET AND DRAINAGE DEPARTMENT EXPENSES
FOR THE FISCAL YEAR ENDED DECEMSER 31, 1967
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Salaries $ 8,825.00
Maintenance of Streets (Labor and Rental on Equipment) 732.00
Materials and Supplies 20,097.23
11 Gas and Oil 543.31
Maintenance of Equipment 146.98
Miscellaneous 12.61
Payments on Equipment
Principal 2,873.45
Interest on Equipment Purchases 92.47
eUtilities 2,944.50
Total Streets and Drainage Department Expenses $36,267.55
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SCHEDULE IV
CITY OF FRIENDSWOOD, TEXAS
GENERAL FUND
MISCELLANEOUS OTHER EXPENSES
FOR THE FISCAL YEAR ENDED DECEMSER 31, 1967
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Comprehensive Planning Program 2,100.00
Natural Gas Study 1,325.00 '
Surveyors Fee (re Annexation) 1,317.72 '
e Sanitation and Health 1,020.00 2
Friendswood Public Library 1,850.00
Fire Department
11 Contribution $2,000.00
Gas and Oil - Fire Truck 115.19
2,115.19
1 Total Miscellaneous Expenses $ 9,727.91
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SCHEDULE V
CITY OF FRIENDSWOOD, TEXAS
11 GENERAL FUND
CAPITAL OUTLAY
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1967
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General and Administrative
None
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Police Department
1 Used Desk and Chair $ 45.00
1 RCA Radio System 2,758.31
Total Police Department $ 2,803.31
Streets and Bridges
1 1967 Ford 2 Ton Dump Truck (F6OBK15198) $ 3,979.32
1 Used Caterpillar 112F Motor Grader (82F692) 9,200.00
1 Electric Powder Pump 50.00
1 Surveyors Tri-Pod and Level Rod 150.00
Street Signs 1,279.24
Right-O-Way 415.00
Total Streets and Bridges 15,073.56
Total Capital Outlay $17,876.87
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11 CITY OF FRIENDSWOOD, TEXAS
GENERAL FUND
COMPARISON OF BUDGET WITH THE ACTUAL REVENUE
1 AND DISBURSEMENTS
II 1967
BUDGET ACTUAL
II Revenues
Ad Valorem Taxes $ 70,000.00 $ 75,443.79
Tax Certificates 68.88
II Franchise & Gross Receipts Taxes 8,000.00 8,357.39
Fines & Forfeits 3,000.00 3,443.50
Permits 3,500.00 11,796.89
Dog Tags 125.00
II Rent 600.00 900.00
Interest Earned 300.00 574.68
Miscellaneous Revenues 3,298.00 738.50
1 Total Revenue $ 88,698.00 $l01,448.63
1 Operating Expenditures
General and Administrative Expenses $ 24,881.00 $ 23,564.32
Police Department Expenses 11,620.00 12,882.13
I Streets and Drainage Expenses 32,277.00 36,267.55
Miscellaneous Other Expenses 9,870.00 9,727.91
IITotal Operating Expenses $ 78,648.00 $ 82,441.91
IIExcess of Revenues over Operating Expenditures $ 10,050.00 $ 19,006.72
Capital Outlay
II General and Administrative $ 750.00 $ 0.00
Police Department Expenses 1,500.00 2,803.31
Streets and Drainage 7,800.00 15,073.56
11 Total Capital Outlay $ 10,050.00 $ 17,876.87
IIAddition to Surplus $ 0.00 $ 1,129.85
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1 CITY OF FRIENDSWOOD, TEXAS
WATER AND SEWER SYSTEM
STATEMENT OF INCOME AND EXPENSES
1 FOR THE FISCAL YEAR ENDED DECEMBER 31, 1967
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Operating Income
11 Water and Sewer Service Charges $ 95,429.16
Tap Fees 23,895.00
Total Operating Income $119,324.16
11 Less : Operating Deductions
Salaries and Wages $ 23,423.88
Payroll Taxes 965.82
1 Operating Supplies 8,147.43
Repairs - Plant 4,695.41
Repairs - Lines 5,467.95
1 Taps - Water 10,153.87
Taps - Sewer 489.97
Engineering Services 599.96
1 Relocate Water Line 9,415.00
Truck Expense 425.00
Bulk Gasoline 454. 58
Maintenance of Equipment 285.44
II Utilities 6,983.62
Telephone 394.�9
Insurance and Bonds 1,441.82
I General Office and Administrative Expenses 1,556.98
Legal Fees 900.00
Accounting Fees 1,055.62
1 Audit Expense 895.25
Tax Appraisal Expense 2,650.00
Interest 458.97
Total Operating Deductions 80,860.76
IIncome Available for Debt Service $ 38,463.40
IIProvision for Depreciation 18,850.19
Operating Income (Net) $ 19,613.21
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CITY OF FRIENDS
STATEMENT OF COMBINED CASH R
INTEREST AND SI
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FOR THE FISCAL YEAR END
I1957
TOTAL Serie
IICash Balance - January 1, 1967 $ 42,333.49 $ 18,020.
IIReceipts
1967 Tax Levy $ 33,461.20 $ 11,042.
1966 Tax Levy 14,186.72 5,958.
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1965 Tax Levy 327.90 137.
1964 Tax Levy 123.21 60.
1963 Tax Levy 67.48 33.
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1962 Tax Levy 16.50 10.
1961 Tax Levy 12. 50 11.
1958 Tax Levy 18.00 16.
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Penalty and Interest 368.81 121.
Tax Certificate 37.12 12.
Interest on Time Deposit 1,345. 51 444.
Transfer - Construction 1,275.00
ITotal Receipts $ 51,239.95 $ 17,849.
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Total to be Accounted For $ 93,573.44 $ 35,869.
Disbursements
Interest Paid $ 26,800.00 $ 12,045.
I Bonds
Retired 6,000.00 2,000.
Total Disbursements $ 32,800.00 $ 14,045.
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Cash Balance - December 31, 1967 $ 60,773.44 $ 21,824.
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CITY OF FRIENDSWOOD, TEXAS
STATEMENT OF COMBINED CASH RECEIPTS AND DISBURSEMENTS
BOND RESERVE ACCOUNT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1967
1957 1958
TOTAL SERIES SERIES
Cash Balance - January 1, 1967 $ 10,774.59 $ 9,804.88 $ 969.71
Receipts
Interest Earned 467.60 423.64 43.96
Transfers
From Water and Sewer System
Operating Fund 1,200.00 1,084.80 115.20
Total to be Accounted For $ 12,442.19 $ 11,313.32 $ 1,128.87
Disbursements
None
Cash Balance - December 31, 1967 $ 12,442.19 $ 11,313.32 $ 1,128.87
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CITY OF FRIENDSWOOD, TEXAS
WATER AND SEWER SYSTEM
CONSTRUCTION FUND
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1967
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Cash Balance - January 1, 1967 $ 335.92
Receipts
Sale of Bonds (1967 Series) $200,000.00
Accrued Interest on Bonds 1,275.00
Interest Earned on Time Deposits 1,894.83
Advance from Department of Housing and
Urban Development 6,685.00
Contributions to Quakers Landing Construction 6,400.00
Total Receipts 216,254.83
1 Total to be Accounted For $216,590.75
Disbursements
Fiscal Agent $ 2,750.00
1 Equipment 7,600.00
Transfer to Interest & Sinking Fund 1,275.00
Contracts Payable
1 WPC-Tex 464 136,528.34
WPC-Tex 500 6,835.74
P-Tex 3397 5,381.44
Total Disbursements 160,370.52
Cash Balance - December 31, 1967 $ 56,220.23
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CITY OF FRIENDSWOOD, 'TEXAS
WATER AND SEWER SYSTEM !I
BALANCE SHEET
DECEMBER 31, 1967
ASSETS
Current Assets
Petty Cash $ 225.00
Cash on Hand 1,043.20
Cash in Bank 28,015.04
Accounts Receivable 9,285.82
Utility Deposits 30.00
Total Current Assets $ 38,599.06
Utility Fixed Assets
Schedule Attached 1,117,454.21
Fund Accounts
Water and Sewer System Construction Fund
Cash in Bank $ 56,220.23
Due from Federal Agencies 56,090.00
Due from Maintenance and
Operating Fund 10,432.09 $122,742.32
Interest and Sinking Fund
Cash in Bank $ 60,773.44 1
Taxes Receivable
1967 Tax Levy $14,952.08
1966 Tax Levy 734. 53
1965 Tax Levy 361.87
1964 Tax Levy 140.75
1963 Tax Levy 158.60
1962 Tax Levy 19.8011
1961 Tax Levy 19.80
1960 and Prior Years 89.90 16,477.33 77,250.77
Bond Reserve Account
Cash in Bank 12,442.19
Total Fund Accounts 212,435.28 1
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Total Assets $1,368,488. 55 1
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1 LIABILITIES, RESERVES AND SURPLUS
Current Liabilities
Notes Payable $ 4,586.00
Accounts Payable 5,754.22
Due to Construction Fund 10,432.09
Customers ' Meter Deposits 1,020.00
' Total Current Liabilities $ 21,792.31
Fund Account Current Liabilities
Interest and Sinking Fund
Bond Interest Payable within One Year $ 39,265.00
Bonds Payable Within One Year 8,000.00 47,265.00
' Long Term Debt
Total Bonds Payable $782,000.00
Less : Bonds Due Within One Year 8,000.00
Total Long Term Debt 77,400.00
Reserves
For Authorized Expenditures - Water and Sewer
System Construction Fund $122,742.32
For Depreciation 48,380. 57
For Retirement of Sinking Fund Bonds 50,427.96
1 Total Reserves 221,550.85
Contributions
1 By Land Owners $ 11,767.87
By Federal Agencies 218,210.28
Total Contributions 229,978.15
' Surplus
Arising from Bonds Retired $ 14,000.00
Arising from Revenues of Maintenance
1 and Operating Fund Invested in Fixed
Assets 91,476.06
$105,476.06
1 Unappropriated Surplus (31,573.82)
Total Surplus 73,902.24
1 Total Liabilities, Reserves and Surplus $1,368,488.55
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CITY OF FRIENDSWO(
COMBINED BALANCE SHEET
as of DECEMBER 3]
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COMBINED
ALL GENERAL
FUNDS FUND
1 ASSETS AND OTHER DEBITS
ASSETS - Other tha' Fixed
1 Petty Cash $ 250.00 $ 25.00
Cash on Hand - Revenues Undeposited 1,118.20 75.00
Cash in Bank 81,563.39 50,272.14
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Taxes Receivable 22,772.98 22,772.98
Less : Reserve for Uncollected Taxes (22,772.98) (22,772.98)
Accounts Receivable 9,285.82
Utility Deposits 30.00
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Due from Social Security Fund 1,144.71 1,144.71
Due from Fire Truck Fund 7,979.05 7,979.05
Fund Accounts
I Water & Sewer System Construction Fund
Cash in Bank 56,220.23
Due from Federal Agencies 56,090.00
Due from Maintenance & Operating
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Fund 10,432.09
Interest and Sinking Fund
Cash in Bank 60,773.44
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Taxes Receivable 16,477. 33
Bond Reserve Account
Cash in Bank 12,442.19
11 Total Assets - Other Than Fixed S 313,806.45 $ 59,495.90
FIXED ASSETS
II Land $ 27,587.95
Structures and Improvements 887,395. 52
Machinery and Equipment 51,118.63
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Construction in Progress 265,658.01
Furniture, Fixtures, Office Equipment 5,532.86
Total Fixed Assets $1,237,292.97
' Less : Allowance for Depreciation 48,380. 57
Net Fixed Assets S1,188,912.40
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Grand Total $1,502,718.85 $ 59,495.90
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' CITY OF FRIENDSWOOE
COMBINED BALANCE SHEET
as of DECEMBER 31
COMBINED
ALL GENERAL
FUNDS FUND
LIABILITIES, RESERVES & SURPLUS
IILIABILITIES - Other Than Long Term
Notes Payable $ 12,565.05 $ 7,979.0:
Accounts Payable 5,754.22
IIDue to Construction Fund 10,432.09
Customers ' Meter Deposits 1,020.00
Due to General Fund 9,123.76
1 Interest on Bonds - Payable Within
One Year 39,265.00
Bonds Payable Within One Year 8,000.00
II Total Liabilities - Other Than Long
Term $ 86,160.12 $ 7,979.0
LONG TERM LIABILITIES
IIBonds Payable $ 774,000.00
Total Long Term Liabilities $ 774,000.00
IITotal Liabilities $ 860,160.12 $ 7,979.0
OTHER CREDITS
For Authorized Expenditures -
Water & Sewer System Construction
Fund $ 122,742.32
1 Reserve for Retirement of Sinking
Fund Bonds 50,427.96
Social Security Fund Reserve 1,572.00
Contributions
By Land Owners 11,767.87
By Federal Agencies 218,210.28
IITotal Other Credits $ 404,720.43
SURPLUS
' Arising from Bonds Retired $ 14,000.00
Arising from Revenues Invested in
Fixed Assets 140,465.17
Arising from Contributions 70,849.65
IIUnappropriated Surplus 12,523.48 51,516.
Total Surplus S 237,838.30 51,51 .
Grand T_o"al $1, 502,718.85 $ 59,495.
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CITY OF FRIENDSWOOD, 'TEXAS
11 ANALYSIS OF CHANGES IN UNAPPROPRIATED SURPLUS
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1967
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I General Fire
Truck Utility
Total Fund Fund Fund
IBalance - January 1, 1967 $ 8,949. 55 $ 41, 561.95 $(13,307.46) $(19,304.94)
Additions
II Excess of Revenues over Operating
Expenditures $ 38,619.93 $ 19,006.72 $ 19,613.21
Sale of Fixed Assets 120.00 120.00
11 Contributions Received 12,019.91 5,700.00 $ 6,319.91
Interest Earned on Social
Security Reserve 131.60 131.60
Reduction of Note - Alvin State Bank 2,873.45 2,873.45
11 Total Additions $ 53,761 .89 S 27,831.77 $ 6,319.91 S 19,613.21
Total to be Accounted For $ 62,714.44 $ 69,393.72 $ (6,987.55) $ 308.27
Deductions
' Capital Outlay $ 38,126.87 $ 17,876.87 $ 20,250.00
Appropriations in 1968
Budget (adopted 12-18-67) to
cover excess expenditures
through Construction Fund 10,432.09 10,432.09
Interest paid on indebtedness
for Fire Fighter donated to
Friendswood Voluntary
Fire Department in 1965 432.00 $ 432.00
Transfer to Bond Reserve Account 1,200.00 1,200.00
Total Deductions $ 50,190.96 $ 17,876.87 $ 432.00 $ 31,882.09
Balance - December 31, 1967 $ 12,523.48 $ 51,516.85 $ (7,419. 55) $(31,573.82)
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CITY OF FRIINDSWOOD, TEXAS
SCHEDULE ON RESERVE FOR RETIREMENT OF SINKING FUND BONDSII
AS OF DECEMBER 31, 1967
II
Interest
1957 1958
Total Series SeriesII
Cash Balance in Fund - December 31, 1967 $ 73,215.63 $ 21,824. 58 $ 3,374. 50I
Additions
II
Taxes Receivable
1967 Tax Roll $ 14,952.08 $ 4,934.19 $ 448. 56
1966 Tax Roll 734. 53 308. 51 29.38
1965 Tax Roll 361.87 151.99 14.47II
1964 Tax Roll 140.75 68.97 7.04
1963 Tax Roll 158.60 79.30 7.93
1962 Tax Roll 19.80 13.06 1.19
1961 Tax Roll 19.80 18.21 1. 59
1960 and Prior Years 89.90 82.71 7.19
Total Taxes Receivable $ 16,477.33 $ 5,656.94 $ 517.35
II
Maximum Funds Available $ 89,692.96 $ 27,481. 52 $ 3,891.85II
Deductions
Bond InterestII
Payment due 3-1-68 $ 21,842.50 $ 6,000.00 $ 625.00
Payment due 9-1-68 17,422. 50 5,900.00 625.00
Total $ 39,265.00 $ 11,900.00 $ 1,250.00
II
Funds Available for Retirement
of Sinking Fund Bonds $ 50,427.96 $ 15,581. 52 $ 2,641.85 11
II
II
II
II
17il
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II
1
And Sinking Fund Bond Reserve Account
I 1962 1963 1967 1957 1958
Series Series Series Series Series
II $ 11,977.09 $ 12,814.84 $ 10,782.43 $ 11,313.32 $ 1,128.87
11
$ 2,093.29 $ 3,438.98 $ 4,037.06
II 154.25 242.39
75.99 119.42
32.37 32.37
36.47 34.90
II 5.55
IIs 2,397.92 $ 3,868.06 $ 4,037.06
1 $ i4,375•01 $ 16,682.90 $ 14,819.49 $ 11,313.32 $ 1,128.87
II $ 3,375•00 $ 3,342. 5o $ 8,500.00
3,375•00 3,272. 5o 4,250.00
IIs 6,750.00 $ 6,615.00 $ 12,750.00
II
7 625.01 $ 10,067.90 $ 2,069.49 $ 11,313.32 $ 1,128.87
1
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IE18
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II CITY OF FRIENDSWOOD, TEXAS
SCHEDULE OF GENERAL FIXED ASSETS
as of DECEMBER 31, 1967
II Balance Balance
1-1-67 Additions Deletions 12-31-67
Buildings
IICity Hall $ 76,500.00 $ 76,500.00
Furniture, Fixtures and Office Equipment
I File Cabinets $ 186.95 $ 186.95
Furniture (Desks, Tables, Chairs) 852.13 852.13
Clary Adding Machine 160.00 160.00
IBM Electric Typewriter 250.00 250.00
II Mimeograph Machine & Stand 730.00 730.00
Sony Tape Recorder & Stand 307.30 307.30
SCM Photo Copier & Stand 1,210.00 1,210.00
1 Furniture & Carpet - Mayor's Office 842.80 842.80
Flag Set 79.00 79.00
Civil Defense Antenna 81.20 81.20
II Water Cooler 196.00 196.00
Total Furniture, Fixtures
and Office Equipment $ 4,895.38 $ 4,895.38
II Police Department Expenses
1965 Ford Police Car $ 2,487.42 $ 2,487.42
Radio Equipment 1,374.65 $ 2,758.31 $ 498.65 3,634.31
1 Emergency Warning Lights 65.00 65.00
Radar Unit 732.85 732.85
Miscellaneous Police Equipment 148.40 148.40
II Office Furniture & Equipment 60.18 45.00 105.18
Total Police Department Expenses $ 4,868. 50 S 7,173.16
Streets and Bridges
II Street Improvement $ 28.80 $ 28.80
Street Signs 2,601.66 1,279.24 3,880.90
Right-O-Ways 4,356.50 415.00 4,771.50
II Castlewood Bridge 5,100.71 5,100.71
Equipment:
International Tractor with Mowers 3,302.00 3,302.00
11 1967 Ford 2 Ton Dump Truck 3,979.32 3,979.32
Used Caterpillar Grader 9,200.00 9,200.00
Miscellaneous Other Equipment 200.00 200.00
Total Streets and Bridges S 15,389.67 $ 30,463.23
11 Other
Jail (Bunks) $ 492.49 $ 492.49
II Dog Pound 314.50 314.50
Total Other $ 806.99 $ 806.99
11 Total General Fixed Assets $102,460. 54 $ 17,876.87 $ 498.65 $119,838.76
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II CITY OF FRIENDSWOOD, TEXAS
WATER AND SEWER SYSTEM
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
as of DECEMBER 31, 1967
II
Balance Balance
II1-1-67 Additions Deletions 12-31-67
Land $ 27,587.95 $ 27,567.95
IITotal Land $ 27,587.95 $ 27,587.95
Structures and Improvements
Water Plants $136,744.10 $ 6,600.00 $ 143,344.10
IIWater Distribution 271,150.64 271,150.64
Sewage Collection System 184,736.32 184,736.32
Sewage Plants 190,556.01 190,556.01
II Laboratory 6,519.55 6,519.55
Total Structures and Improvements S789,706.62 S 796,306.62
1 Construction in Progress $ 335.92 265,322.09 $ 265,658.01
Total Construction in Progress $ 335.92 $ 265,658.01
Other
1
Office Furniture and Fixtures $ 3,637.48 $ 3,637.48
Machinery and Equipment
Trucks 5,680.42 5,680.42
1 Tools 1,333.73 1,333.73
Link Belt Ditching Machine 15,200.00 15,200.00
Backhoe 6,050.00 6,050.00
Is 10,651�3 $ 31,901.63
Less: Bonds Matured Prior
to acquisition 4,000.00 4,000.00
Total Other $ 6,651.63 $ 27,901.63
I
Total Property, Plant and Equipment $824,282.12 $293,172.09 $1,117,454.21
IISource of Funds
From Bonds Assumed $ 596,000.00
II From General Obligation Bonds Issued 200,000.00
From Maintenance and Operating Account 91,476.06
From Contribution by Land Owners 11,767.87
From Federal Agencies 218,210.28
I/
Total $1,117,454.21
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II CITY OF FRIENDSWOOD, TEXAS
STATEMENT OF BONDS PAYABLE
December 31, 1967
IIAmount Maturity
of Interest Bonds
IIName of Issue Issue Date Rate Amount Outstanding
WATER AND SEWER SYSTEM
II
Galveston County Water Control
11 & Improvement District #15 Bonds-
dated July 1, 1957
Bonds assumed under City
Ordinance #51A as of 12-1-64 $246,000 $ 240,000.00
11
3-1-68 5.00% $ 4,000
Bonds maturing March 1,1976 3-1-69 5.00 4,000
and thereafter, are redeemable 3-1-70 5.00 4,000
11 in whole or in part in inverse 3-1-71 5.00 4,000
numeeical order, on March 1, 1975 3-1-72 5.00 5,000
or any interest payment date 3-1-73 5.00 5,000
thereafter at par and accrued 3-1-74 5.00 5,000
11 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
3-1-8o 5.00 7,000
411 3-1-81 5.00 8,000
3-1-82 5.00 8,000
3-1-83 5.00 10,000
4110 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
A3-1-88 5.00 12,000
3-1-89 5.00 13,000
3-1-90 5.00 14,000
4, 3-1-91 5.00 15,000
A 3-1-92 5.00 20,000
3-1-93 5•00 25,000
ow
Galveston County Water Control
& Improvement District #15 Bonds-
dated July 1, 1958
410 Bonds assumed under City
Ordinance #51A as of 12-1-64 $25,000 25,000.00
3-1-94 5.00 25,000
410 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
ge
accrued interest.
21
II
II
1 STATEMENT OF BONDS PAYABLE
- continued -
1
Galveston County Water Control
1 & Improvement District #15 Bonds-
dated October 1, 1962
Bonds assumed under City
II Ordinance #51A as of 12-1-64 $150,000 $ 150,000.00
3-1-95 4.504 $30,000
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•So 35,000
and accrued interest. 3-1-99 4.50 25,000
II Galveston County Water Control
& Improvement District #15 Bonds-
dated October 1, 1963
ll Bonds assumed under City
Ordinance #51A s of 12-1-64 $175,000 167,000.00
3-1-68 3.5o 4,000
3-i-69 3.5o 4,000
II 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
11 interest. 3-1-76 3.50 6,000
3-1-77 3.50 6,000
3-1-78 3.50 6,000
3-1-79 4.25 6,000
II 3-1-8o 4.25 6,000
3-1-81 4.25 7,000
3-1-82 4.25 7,000
li 3-1-83 4.25 7,000
3-1-84 4.25 7,000
3-1-85 4.25 7,000
P3-1-86 4.25 8,000
3-1-87 4.25 8,000
3-1-88 4.25 9,000
3-1-89 4.25 lo,000
11 3-1-90 4.25 10,000
3-1-91 4.25 lo,000
3-1-92 4.25 lo,000
11 City of Friendswood Sewer
Improvement Bonds
dated March 1, 1967 $200,000 200,000.00
7! 3-1-71 5.00 5,000
3-1-72 5.00 5,000
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1
STATEMENT OF BONDS PAYABTF
- 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
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
11 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
11 3-1-87 4.20 15,000
3-1-88 4.20 15,000
11
Total Bonds Payable $782,000.00
11
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II CITY OF FRIENDSWOOD, TEXAS
STATEMENT OF BOND MATURITIES AND INTEREST REQUIREMENTS
IITotal Total Total
Fiscal Year Bond Interest Principal and
IIEnding Maturities Requirements Interest Requirements
12-31-68 $ 8,000.00 $ 39,265.00 $ 47,265.0o
12-31-69 8,000.00 34,675.0o 42,615.00
ll 12-31-70 8,000.00 34,335.00 �2,J35.00
12-31-71 14,000.00 33,852.50 47,852. 5o
12-31-72 15,000.00 33,202. 5o 48,202. 50
11 12-31-73 15,000.00 32,527.50 47,527. 50
12-31-74 15,000.00 31,852. 50 46,852.50
12-31-75 21,000.00 31,072.50 52,072.50
11 12-31-76 22,000.00 30,170.00 52,170.00
12-31-77 23,000.00 29,225.00 52,225.00
12-31-78 23,000.00 28,255.00 51,255.00
12-31-79 23,000.00 27,262. 50 50,262.50
11 12-31-80 23,000.00 26,247.50 49,247.50
12-31-81 30,000.00 25,076.25 55,076.25
12-31-82 30,000.00 23,748.75 53,748.75
11 12-31-83 32,000.00 22,371.25 54,371 25
12-31-84 32,000.00 20,943.75 52,943.75
12-31-85 33,000.00 19,491.25 52,491.25
12-31-86 34,000.00 17,992.50 51,992. 50
12-31-87 35,000.00 16,447. 50 51,447.50
12-31-88 36,000.00 14,856.25 50,856.25
12-31-89 23,000.00 13,512. 50 36,512. 50
12-31-90 24,000.00 12,412.50 36,412. 50
12-31-91 25,000.00 11,262.50 36,262. 50
12-31-92 30,000.00 9,962. 50 39,962. 50
12-31-93 25,000.00 8,625.00 33,625.00
12-31-94 25,000.00 7,375•00 32,375•00
12-31-95 30,000.00 6,075.00 36,075.00
111 12-31-96 30,000.00 4,725.00 34,725.00
12-31-97 30,000.00 3,375•00 33,375.0o
12-31-98 35,000.00 1,912. 50 36,912. 50
12-31-99 25,000.00 562.50 25,562.50
4111
$782,000.00 $652,670.00 $1,434,670.00
441
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II
II CITY OF FRIENDSWOOD, 'TEXAS
SCHEDULE OF INSURANCE IN FORCE
DECEMBER 31, 1967
A
Aetna Insurance Company
II Policy Number Term 6155979 BC
April 25, 1967 to April 25, 1968
Kind Tax Assessor - Collector's Bond
11 Premium $50.00
Person Covered Laurence Byron Cline (Tax Assessor)
Amount of Coverage $10,000.00
II Policy Number 6159185 BC
Term May 8, 1967 to May 8, 1968
Kind Public Employees Blanket Bond
II Premium $122.00
Persons Covered City Employees
Amount of Coverage $10,000.00
11 Policy Number 6156804 BC
Term January 5, 1967 to January 5, 1968
Kind Supervisors Bonds - Draiinage District
11 Premium $18.00
Person Covered James B. Shore
Amount of Coverage $5,000.00
11 Policy Number 6155100 BC
Term January 25, 1967 to January 25, 1968
li Kind Supervisors Bond - Drainage District
Premium $18.00
Person Covered Myron B. Worden
Amount of Coverage $5,000.00
401 Policy Number 61510070; 61S10071; 61810072
Term January 26, 1967 to January 26, 1968
40! Kind Supervisors Bond - Drainage District
Premium $54.00
Persons Covered Frazier Coffie; Robert B. Young, Jr;
Kenneth Truman
4.! Amount of Coverage $5,000.00 each
United States Fidelity and Guaranty Company
Policy Number J 234602
Term October 1, 1967 to October 1, 1968
41 Kind Workmen's Compensation and Employer's Liabilit:
Premium $716.57 (Estimated)
Persons Covered Waterworks Operations; Sewage Disposal Plant
Operations; Clerical Office Employees; Police-
4111,
' men; Street or Road Construction or Reconstruc-
4 tion; Irrigation or Drainage System
Construction; Municipal, County or State
'v Employees Engaged in Construction Work.
25
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SCHEDULE OF INSURANCE IN FORCE
- continued -
IIUnited States Fidelity and Guaranty Company
Policy Number 1 CC 102464
Term October 1, 1967 to October 1, 1968
Kind Comprehensive General - Automobile Liability
Policy
Premium $1,263.00
Amount of Coverage Bodily Injury Liability - Automobile
1965 Ford: $10,000.00 each person
$20,000.00 each accident
1964 Chevrolet 2 Ton Pick up:
$50,000.00 each person
$100,000.00 each accident
1966 Ford 1 Ton Flat Bed Truck:
$50,000.00 each person
$100,000.00 each accident
1967 Ford 2 Ton Dump Truck:
$50,000.00 each person
$100,000.00 each accident
Non-ownership and Hired Car
Coverage : $50,000.00 each person
$100,000.00 each accident
Basic Medical ($500.00 each person) on 1964
Chevrolet Pick-up; 1966 Ford Flat Bed
Truck; and 1967 Ford Dump Truck
Property Damage Liability - Automobile
$5,000.00 each accident
11 Automobile Physical Damage
1965 Ford $250.00 Deductible
1964 Chevrolet Pick-up 50.00 Deductible
1! 1966 Ford Flat Bed Truck 50.00 Deductible
1967 Ford Dump Truck 50.00 Deductible
Bodily Injury Liability - Except Automobile
1! $100,000.00 Each person
$200,000.00 each accident
$200,000.00 aggregate
Property Damage Liability - Except Automobile
ql $5,000.00 each accident
$25,000.00 aggregate
Fidelity and Guaranty Insurance Underwriters, Inc.
Policy Number OF 2627
Term October 1, 1965 to October 1, 1970
Kind Fire, Lightning, Extended Coverage, Vandalism
and Malicious Mischief
41 Premium $1,928.00
Amount of Coverage 1. $90,000.00 (90% Co-Insurance)
All buildings including City Hall, All
Steel Water Tank and Tower, Chlorination
mm Building, Outside Electrical Panel and
outside Site Improvements
26
II
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11 SCHEDULE OF INSURANCE IN FORCE
- continued -
II
2. $5,000.00 - Contents, City Hall and Fire
1 Department
3. $500.00 - Contents, Chlorination Building
1 Blue Cross and Blue Shield
Kind Hospital Insurance
II
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1!
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411
414
I.
44111
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