HomeMy WebLinkAbout1980 12 31 Annual Comprehensive Financial Report - Gulf Coast Waste Disposal Authority GULF COAST WASTE DISPOSAL AUTHORITY
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Year Ended December 31, 1980
TABLE OF CONTENTS
Page
INTRODUCTORY SECTION
Directors
Officers and Consultants
Letter of Transmittal
FINANCIAL SECTION
Auditors' Opinion
Combined Statements - Overview (General Purpose Financial Statements) :
Combined Balance Sheet - All Fund Types and Account Groups 1
II Combined Statement of Revenue, Expenditures, and Changes in Fund Balance -
All Governmental Fund Types 3
Combined Statement of Revenues, Expenses, and Changes in Retained Earnings/
Fund Balances - All Proprietary Fund Types and Similar Trust Funds 4
Combined Statement of Changes in Financial Position - All Proprietary Fund
Types and Similar Trust Funds 5
Notes to the Financial Statements 6
Financial Statements of Individual Funds:
General Fund:
Comparative Balance Sheet 15
Comparative Statement of Revenues, Expenditures and Changes in Fund Balances 16
Special Revenue Funds:
Combining Balance Sheet 17
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 19
Capital Projects Funds:
Combining Balance Sheet 21
Combining Statement of Revenues, Expenditures and Changes in Fund Balances 22
Combining Balance Sheet - Industrial Projects 23
Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
Industrial Projects 25
Combining Balance Sheet - Municipal Projects 27
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances -
Municipal Projects 27
Enterprise Funds:
Combining Balance Sheet 29
Combining Statement of Revenues, Expenses, and Changes in Retained Earnings 30
Combining Statement of Changes in Financial Position 3]
Bayport Area System Revenue Fund:
Comparative Balance Sheet 32
Comparative Statement of Revenues, Expenses, and Changes in Retained Earnings 33
Comparative Statement of Changes in Financial Position 34
Equipment Services Fund:
Comparative Balance Sheet 35
Comparative Statement of Revenues, Expenses and Changes in Retained Earnings 36
Comparative Statement of Changes in Financial Position 37
Fiduciary Funds:
Pension Trust Fund:
Employees' Pension Plan:
Comparative Balance Sheet 38
Comparative Statement of Revenues, Expenses and Changes in Fund Balance 39
Comparative Statement of Changes in Financial Position 40
Unexpendable Trust Fund:
Texas City Landfill Perpetual Maintenance Fund:
Comparative Balance Sheet 4]
Comparative Statement of Revenues, Expenses and Changes in Fund Balance 4]
Comparative Statement of Changes in Financial Position 42
General Fixed Assets:
Schedule of General Fixed Assets By Functions and Activities 43
Schedule of Changes in General Fixed Assets - By Functions 44
Schedule of Changes in General Fixed Assets - By Source 45
SUPPLEMENTARY DATA SECTION
Pollution Control Revenue Bonds Issued and Outstanding - Industrial Projects 47
Pollution Control Revenue Bonds Issued and Outstanding - Municipal Projects 49
DIRECTORS
Arthur M. Alpert, Chairman *
Chairman of the Executive Committee, United States National Bank
Chairman of the Board and Chief Executive Officer,
United States National Bancshares, Galveston
W. Tom Arnold, M.D. *
Private practice in Gastroenterology, Diagnostic Clinic;
Professor, University of Texas Graduate School
of Biomedical Sciences and Baylor College of Medicine;
Member of the Development Board of
the University of Texas Medical School;
Chairman of the Board of American Homes International;
former Chief of Staff of Diagnostic Center Hospital
William D. Bush
Retired, formerly with Humble Oil&Refining Co.
Frank M. Fisher, Jr., Ph.D.
Chairman, Department of Biology, Rice University
David Jenkins
Rice Farmer
Len W. Robbie, Treasurer
Retired, formerly with Texas City Refining Company
Mark Schultz
Rice Farmer
John Widlenthal,Vice Chairman
Municipal Court Judge, City of Houston
Veta Winick, Secretary
Director of the O'Kane Art Gallery,
University of Houston Downtown College;
Former National Director, League of Women Voters,
Chairperson, Public Relations
* Two changes in the membership of the Board of Directors occured in the
first quarter of 1981. John G. Unbehagen of Galveston was appointed by the
Governor to replace Arther M. Alpert, whose term expired. W. Tom Arnold,
M.D. was elected by the Board to serve as Chairman.
OFFICERS
L. Jack Davis
General Manager
Joe P. Teller
Deputy General Manager-Hazardous Waste
Paul I. Davis
Deputy General Manager-Industrial and Governmental Relations
Jerry R. Dunn
Deputy General Manager-Administration and Finance
Jim F. Thornton
Deputy General Manager-Municipal Operations
GENERAL COUNSEL
Olson & Olson, Houston, Texas
BOND COUNSEL
McCall, Parkhurst& Horton, Dallas, Texas
FINANCIAL ADVISOR
Underwood, Neuhaus &Co., Houston, Texas
AUDITORS
LaFrance, Walker, Jackley & Saville, Certified Public Accountants
Houston, Texas
{ GENERAL OFFICES
910 Bay Area Boulevard, Houston, Texas 77058
Gulf Coast Waste Disposal Authority
910 Bay Area Boulevard Houston. Texas 77058 71.3/488-4115
W. Tom Arnold, M.D. , Chairman
and Members of the Board of Directors
Gulf Coast Waste Disposal Authority
We are pleased to submit to you the Comprehensive Annual Financial
Report of Gulf Coast Waste Disposal Authority for the year ended
December 31, 1980, together with the opinion thereon of the independent
certified public accountants.
This year' s report is in a different format from that used in prior
years. It incorporates the changes contained in Statement 1, Govern-
mental Accounting and Financial Reporting Principles, issued in 1979 by
the National Council on Governmental Accounting. The newly approved
concept for combined financial reports is intended to improve the under-
standability and functional effectiveness of the traditional governmental
accounting and financial reporting.
In compliance with this concept, the various funds of the Authority
have been combined by types of funds . These are presented in Combined
Statements-Overview, giving a broad perspective of the financial position
and results of operations. In order to provide full disclosure, the
footnotes are an integral part of these general purpose financial state-
ments (GPFS) .
Following the GPFS, to provide detail information, the individual
funds of the Authority are presented in Combining Statements by Fund
Types .
We believe that 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 Authority as
measured by the financial activity of the various funds; and that all
disclosures necessary to enable the reader to gain the maximum under-
standing of the Authority' s financial affairs have been included.
Sicerely,
IF
l-ack 'Davi
ral Manager
r►., rt.ari
Betty H." Forsten, C.P.A.
Director of Finance
LAFRANCE, WALKER, tJACKLEY & SAVILLE
CERTIFIED PUBLIC ACCOUNTANTS
112 O NASA RD-ONE • HOUSTON, TEXAS 77058
OFFICES IN PRINCIPAL CITIES-TORSION AFFILIATES
713/488-8324
March 31, 1981
Board of Directors
Gulf Coast Waste Disposal Authority
We have examined the combined financial statements of Gulf Coast
Waste Disposal Authority and its combining and individual fund finan-
cial statements as of and for the year ended December 31, 1980 , as
listed in the table of contents . Our examination was made in accordance
with generally accepted auditing standards and, accordingly, included
such tests of the accounting records and such other auditing procedures
as we considered necessary in the circumstances .
In our opinion, the combined financial statements referred to
above present fairly the financial position of Gulf Coast Waste Disposal
Authority at December 31, 1980 , and the results of its operations and
the changes in financial position of its proprietary fund types and
similar Trust Funds for the year then ended, in conformity with generally
accepted accounting
g principles applied on a basis consistent with that
of the preceding year. Also, in our opinion, the combining and indi-
vidual fund financial statements referred to above present fairly the
financial position of the individual funds of Gulf Coast Waste Disposal
Authority at December 31, 1980 , their results of operations , and the
changes in financial position of individual proprietary funds for the
year then ended, in conformity with generally accepted accounting prin-
ciples applied on a basis consistent with that of the preceding year.
Our examination was made for the purpose of forming an opinion on the
combined financial statements taken as a whole and on the combining and
individual fund financial statements. The accompanying financial infor-
mation listed as supplemental data in the table of contents is presented
for purposes of additional analysis and is not a required part of the
combined financial statements of Gulf Coast Waste Disposal Authority.
The information has been subjected to the auditing procedures applied in
the examination of the combined, combining, and individual fund financial
statements and, in our opinion, is fairly stated in all material respects
in relation to the combined financial statements taken as a whole.
(„4„,„ 7>luci—LAJ
OF
GULF COAST WASTE DISPOSAL AUTHORITY
COMBINING BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
December 31, 1980
Governmental Fund Types Proprietary
Special Capital Fund Type
General Revenues Projects Enterprise
Assets
Cash $ 66,231 $ 78,239 $ 37,126 $ 17,892
Time deposits 1,155,890 335,000 5,447,043 1,075,000
U.S. government securities, at cost - 165,000 5,170,419 135,000
Investments, less unamortized discount - - - -
Accounts receivable 50,117 2,050,841 830,103 510,094
Due from other funds (note 12) 329,164 5,115 - 5,494
Accrued interest receivable 44,325 1,146 179,605 45,521
Prepaid expense 12,435 50,267 - 20,067
Current portion, long-term installment
notes receivable (note 3) 33,628 - 24,000 -
Long-term installment notes receivable,
less current portion (note 3) 263,145 - 48,000 -
Advance to other funds 10 - - -
Risk insurance premium deposit 1,317 36,956 - 12,890
Restricted assets:
Deferred compensation plan:
Cash and U.S. government securities,
at cost 70,000 - - -
Debt service cash - - - -
Employee savings accounts - - - -
Planning Fund cash - - - -
Construction Fund net assets (note 4) - - - 621,803
Contingency Fund: (note 4)
Cash, U.S. government securities,
and accrued interest - - - 200,000
Revenue Bonds Reserve Fund: (note 4)
Cash and accrued interest - - - 1,059,115
Property, plant and equipment, net of
accumulated depreciation (note 5) - - - 12,531,991
Unamortized bond discount and issue costs - - - 351,979
Cash surrender value of life insurance policies - - - -
Amount to be provided for retirement of general
long-term debt - - - -
Other assets 10,273 - - -
Total assets $2,036,535 $2,722,564 $11,736,296 $16,586,846
Liabilities
Accounts payable $ 31,801 $ 768,715 $ 1,059,777 $ 141,170
Due to other funds (note 12) - 316,948 1,843 24,204
Due to terminated employees - - - - -
Current maturity - long-term note payable (note 6) - - - 33,628
Accrued interest 9,184 - - -
Accrued payroll taxes 27,300 - -Advance reimbursement of expenses - 1,356,186 - -
Refundable deposit - - - 1,500
Payable from restricted assets:
Accrued bond interest - - - 221,530
Current portion of revenue bonds (note 6) - - - 170,000
Advances for working capital - 356,081 - -
Long-term note payable, less current portion (note 6) - - - 263,145
Revenue bonds payable, less current portion (note 6) - - - 13,065,000
Building revenue bonds payable (note 6) - - - -
Capitalized lease payable (note 6) - - - -
Deferred revenue - - _ - -
Total liabilities 68,285 2,797,930 1,061,620 13,920,177
Fund Equity
Contributed capital - - - 25,000
Investment in general fixed assets - - - -
Retained earnings:
Reserve for revenue bond indenture - - - 867,585
Unreserved - - - 1,774,084
Fund balance: (note 10)
Reserved for planning - - - -
Reserved for deferred compensation plan 70,000 - - -
Reserved for long-term receivable 263,145 - 48,000 -
Reserved for employee's retirement fund - - - -
Reserved for perpetual maintenance - - - -
Unreserved 1,635,105 (75,366) 10,626,676 -
Total fund equity 1,968,250 (75,366) 10,674,676 2,666,669
Total liabilities and fund equity $2,036,535 $2,722,564 $11,736,296 $16,586,846
1
Account Groups
Fiduciary Fund Types General General Totals
Pension Nonexpend- Fixed Long-term (Memorandum Only)
Trust able Trust Assets Debt 1980 1979
$ 5,597 $ 102 $ - $ - $ 205,187 $ 1,636,888
478,143 - - - 8,491,076 8,718,965
- - - - 5,470,419 26,221,748
410,156 - - - 410,156 304,952
- - - - 3,441,155 2,046,176
- 3,222 - - 342,995 104,755
41,597 - - - 312,194 297,253
- - - - 82,769 76,422
- - - - 57,628 55,241
- - - - 311,145 368,773
- - - - 10 -
- - - - 51,163 39,148
- - - - 70,000 80,000
- - - - - 66
- - - - - 2,577
- - - - - 16,125
- - - - 621,803 4,452,368
- - - 200,000 193,588
- - - - 1,059,115 858,521
- - 109,199,124 - 121,731,115 111,620,610
- - - - 351,979 373,678
118,215 - - - 118,215 123,598
- - - 557,085 557,085 609,502
- - - - 10,273 9,137
$1,053,708 $3,324 $109,199,124 $557,085 $143,895,482 $158,210,091
$ 9,057 $ - $ - $ - $ 2,010,520 $ 2,150,142
- 342,995 104,755
4,774 4,774 4,927
- - - - 33,628 31,241
- - - - 9,184 9,605
- - - - 27,300 63,084
- - - - 1,356,186 173,799
- - - - 1,500 285
- - - - 221,530 223,879
} - - - - 170,000 160,000
- - - - 356,081 237,760
- - - - 263,145 296,773
- - - - 13,065,000 13,235,000
- - - 395,000 395,000 415,000
- - - 162,085 162,085 194,502
- - - - - 12,500
13,831 - - 557,085 18,418,928 17,313,252
/ - - - - 25,000 25,000
- - 109,199,124 - 109,199,124 104,057,206
- - - - 867,585 668,230
- - - - 1,774,084 1,420,916
- - - - - 16,125
- - - - 70,000 80,000
- - - - 311,145 368,773
1,039,877 - - - 1,039,877 696,548
- 3,324 - - 3,324 98
1 - - - - 12,186,415 33,563,943
1,039,877 3,324 109,199,124 125,476,554 140,896,839
$1,053,708 $3,324 $109,199,124 $557,085 $143,895,482 $158,210,091
See notes to the financial statements.
2
GULF COAST WASTE DISPOSAL AUTHORITY
COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE - ALL GOVERNMENTAL FUND TYPES
Year Ended December 31, 1980
Totals
Special Capital (Memorandum Only)
General Revenue Projects 1980 1979
Revenue:
Services to municipalties $ 142,780 $ - $ - $ 142,780 $ 109,645
Services to industries 1,172,807 - - 1,172,807 1,236,928
Reimbursement of operating expenses - 10,227,287 - 10,227,287 8,795,219
Outside contracts and special
charges - 1,056,414 - 1,056,414 686,284
Interest earned 186,853 55,995 3,088,028 3,330,876 3,616,622
Computer fees 46,900 - - 46,900 -
Recovery of prior year's sales tax 20,000 - - 20,000 20,000
Rental income 32,531 - - 32,531 30,261
Other 145 13,217 - 13,362 4,690
Total revenues 1,602,016 11,352,913 3,088,028 16,042,957 14,499,649
Expenditures:
Personnel costs 1,023,218 2,221,491 - 3,244,709 2,657,240
Materials and supplies 73,959 1,181,554 - 1,255,513 824,940
Electricity - 1,344,131 - 1,344,131 1,171,390
Repairs and maintenance - 2,073,212 - 2,073,212 1,640,804
Building and occupancy cost 42,990 - - 42,990 35,122
Contractual services 58,769 192,787 - 251,556 164,009
Other operating expenses 304,813 3,781,722 - 4,086,535 3,554,444
Capital outlay 74,658 467,107 - 541,765 308,762
Extraordinary repairs and
replacements - - - - 449,310
Project development costs - 433,781 - 433,781 20,049
Land option - 113,000 - 113,000 -
Debt service:
Principal retirement 20,000 - - 20,000 20,000
Interest and fiscal charges 22,632 - - 22,632 23,636
Capital lease payments 32,417 - - 32,417 -
Capital projects:
Authority owned projects - - 4,604,486 4,604,486 8,686,354
Industry owned projects - - 34,618,755 34,618,755 54,968,071
Transfer to industry debt service - - 5,393,673 5,393,673 1,100,053
Total expenditures 1,653,456 11,808,758 44,616,914 58,079,155 75,624,184
Excess (deficiency) of revenues
over expenditures (51,440) (455,872) (41,528,886) (42,036,198) (61,124,535)
Other financing sources (uses) :
Operating transfers in - 25,000 - 25,000 -
Operating transfers out (25,000) - (49,300) (74,800) (67,817)
Revenue bonds issued - - 18,400,000 18,400,000 43,455,000
Bond issue and discount cost - - (259,475) (259,475) (909,374)
Contributions from industry - 120,400 2,635,403 2,755,803 7,339,901
Return of contribution - - (272,611) (272,611) (93,840)
Sale of surplus equipment - - 1,000 1,000 111,200
Lease/sale of land - - - - 120,000
Proceeds from insurance claim - - - - 1,200,000
Total other financing sources
(uses) (25,000) 145,400 20,454,517 20,574,917 51,155,070
Excess (deficiency) of revenues and
other financing sources over
expenditures and other uses (76,440) (310,472) (21,074,369) (21,461,281) (9,969,465)
Fund balance at beginning of year 2,126,669 153,127 31,749,045 34,028,841 43,998,306
Equity transfer in - 81,979 - 81,979 -
Equity transfer out (81,979) - - (81,979)
Fund balance at end of year $1,968,250 $ (75,366) $10,674,676 $12,567,560 $34,028,841
See notes to the financial statements.
3
GULF COAST WASTE DISPOSAL AUTHORITY
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN
RETAINED EARNINGS/ FUND BALANCES - ALL PROPRIETARY FUND
TYPES AND SIMILAR TRUST FUNDS
Year Ended December 31, 1980
Proprietary Fiduciary Fund Types Totals
Fund Tyne Pension Nonexpend- (Memorandum Only)
Enterprise Trust able Trust 1980 1979
Operating revenues:
Charges for services $3,612,011 $ - $ - $3,612,011 $3,630,678
Penalties and other revenues 3,869 - - 3,869 9,835
Contributions - 283,614 3,222 286,836 234,468
Interest - 75,592 4 75,596 40,211
Net increase in cash surrender value
of life insurance policies - 4,259 - 4,259 -
Total operating revenues 3,615,880 363,465 3,226 3,982,571 3,915,192
Operating expenses:
Personnel costs 702,809 - - 702,809 577,589
Materials and supplies 515,836 - - 515,836 239,678
Electricity 480,347 - - 480,347 373,497
Maintenance and repairs 300,844 - - 300,844 181,898
Contractual services 55,001 - - 55,001 41,512
Other operating expenses 459,618 - - 459,618 392,768
Depreciation 456,336 - - 456,336 437,237
Refunds to terminated employees - 2,125 - 2,125 24,183
Net Insurance expense - 1,264 - 1,264 34,322
Consulting and actuary fees - 14,389 - 14,389 11,936
Administrative expenses - 2,358 - 2,358 1,258
Total operating expenses 2,970,791 20,136 - 2,990,927 2,315,878
Operating income 645,089 343,329 3,226 991,644 1,599,314
Non-operating revenues (expenses) :
Interest earned 791,325 - - 791,325 609,191
Recovery of prior year's expense 52,500 - - 52,500 -
Sale of fixed assets 2,500 - - 2,500 -
Amortization of bond discount and
issue cost (21,699) - - (21,699) (20,136)
Bond interest expense (893,166) - - (893,166) (790,117)
Interest on interfund debt (24,026) - - (24,026) (26,244)
Total non-operating revenues
(expenses) (92,566) - - (92,566) (227,306)
Net income (note 9) 552,523 343,329 3,226 899,078 1,372,008
Retained earnings/ fund balances
at beginning of year 2,089,146 696,548 98 2,785,792 1,413,784
Retained earnings/ fund balances
at end of year $2,641,699 $1,039,877 $3,324 $3,684,870 $2,785,792
See notes to the financial statements.
4
GULF COAST WASTE DISPOSAL AUTHORITY
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION -
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
Year Ended December 31, 1980
Proprietary Fiduciary Fund Types Totals
Fund Type Pension Nonexpend- (Memorandum Only)
Enterprise Trust able Trust 1980 1979
SOURCES OF WORKING CAPITAL:
Operations:
Net income $ 552,523 $343,329 $3,226 $ 899,078 $1,372,008
Add items not requiring
(providing) working capital:
Depreciation 456,336 - - 456,336 437,237
Amortization of bond dis-
count and issue costs 21,699 - - 21,699 20,L36
Loss on disposal of equip-
ment - - - - 335
Discount amortization - (174) - (174) (242)
(Increase)/decrease in
cash surrender value of
life insurance - 5,383 - 5,383 (18,544)
Working capital provided
from operations 1,030,558 348,538 3,226 1,382,322 1,810,930
Net increase in current liabilities
payable from restricted assets 7,651 - - 7,651 -
Increase in long-term debt - - - - 6,731,216
Decrease in restricted assets:
Construction Fund net assets 3,830,565 - - 3,830,565 -
Investment principal received - 4,970 - 4,970 6,726
Total sources of working
capital 4,868,774 353,508 3,226 5,225,508 8,548,872
APPLICATIONS OF WORKING CAPITAL:
Investment in fixed assets 5,424,923 - - 5,424,923 1,091,933
Decrease in long-term debt 203,628 - - 203,628 31,241
Bond discount and issue costs - - - - 169,962
Increase in restricted assets:
Contingency Fund 6,412 - - 6,412 63,567
Construction Fund net assets - - - - 4,407,368
Revenue Bonds Reserve Fund 200,594 - - 200,594 398,521
Increase in risk insurance prem-
ium deposit 1,716 - - 1,716 11,174
Purchase of securities - 110,000 - 110,000 -
Net increase in current liabilities
payable from restricted assets - - - - 1,300,004
Total applications of working
capital 5,837,273 110,000 - 5,947,273 7,473,770
INCREASE/(DECREASE) IN WORKING CAPITAL $ (968,499) $243,508 $3,226 $ (721,765) $1,075,102
INCREASE/(DECREASE) IN WORKING
CAPITAL RESULTED FROM CHANGES IN:
Cash in bank $ (176,287) $(13,804) $ 4 $ (190,087) $ 102,626
Time deposits (664,000) 263,143 - (400,857) 676,000
U.S. government securities (189,892) - - (189,892) 324,892
Accounts receivable 125,640 - - 125,640 (115,219)
Due from other funds 5,494 (34,987) 3,222 (26,271) 34,987
Accrued interest receivable 18,336 34,331 - 52,667 17,845
Prepaid expense 628 - - 628 11,514
Accounts payable (88,712) (5,502) - (94,214) (8,558) .
Due to terminated employees - 153 - 153 (4,927)
Due to other funds 4,181 174 - 4,355 (11,840)
Current maturities of long-term
debt (2,387) - - (2,387) (2,218)
Provision for deposit to Con-
struction Fund - - - - 50,000
Refundable deposit (1,500) - - (1,500) -
INCREASE/(DECREASE) IN WORKING CAPITAL $ (968,499) $243,508 $3,226 $ (721,765) $1,075,102
See notes to the financial statements.
5
GULF COAST WASTE DISPOSAL AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS
December 31, 1980
Note 1: Organization
Gulf Coast Waste Disposal Authority is a political subdivision of the State of Texas, estab-
lished by the State Legislature in 1969 under Article XVI, Section 59 of the Texas Constitution.
It operates as a conservation and reclamation district pursuant to Chapter 409, Acts of the 61st
Legislature of the State of Texas, Regular Session, 1969, as amended. It was created as a
regional agency for the primary purpose of controlling water pollution and providing waste
treatment and disposal systems in Harris, Galveston, and Chambers Counties, Texas.
The Authority is governed by a nine member Board of Directors, comprised of appointees from the
three counties in the Authority's jurisdiction. One director from each county is appointed by
the Governor of the State of Texas; one from each county is appointed by the Commissioners' Court;
and one is appointed by the Mayors of the cities within each county.
The Authority has extensive powers in the area of waste management and water pollution control.
It may acquire, construct, operate, or sell waste treatment facilities located within or without
the three-county area, and may issue bonds to finance such facilities. It may contract with
owners of other systems to operate their plants, or for treatment of waste in the Authority's
facilities, or for training of operating employees.
Note 2: Summary of Significant Accounting Policies
The accounting policies of the Authority conform to generally accepted accounting principles as
applicable to governments. The following is a summary of the more significant policies:
A. Fund Accounting •
The accounts of the Authority are organized on the basis of funds and account groups,
each of which is accounted for with a separate set of self-balancing accounts that
comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses as
appropriate. The various funds are grouped, in the financial statements in this report,
into six generic fund types and three broad fund categories as follows:
GOVERNMENTAL FUNDS
General Fund
The General Fund is the general operating fund of the Authority. It is used to account
for all financial resources except those required to be accounted for in another fund.
These resources include, among other things,revenues received from (1) management and
service fees, (2) financing fees for certain types of bond issues, (3) supervision and.
technical assistance fees, and (4) project management fees.
Special Revenue Funds
Special revenue funds are used to account for the proceeds of specific revenue sources
(other than major capital projects) that are restricted by agreement to expenditures
for specified purposes. Operations of the following projects are accounted for in
special revenue funds:
1. Washburn Tunnel Wastewater Treatment Plant
2. Forty Acres Wastewater Treatment Plant
3. American Wastewater Treatment Plant
4. Blackhawk Wastewater Treatment Plant
5. Texas City Industrial Solid Waste Landfill
Revenues to operate these facilities are provided by the industries, municipalities or
special districts with which the Authority has written contracts for pollution control
services. The agreements provide for the reimbursement of actual costs through budgeted
revenues and periodic variance adjustments.
6. Municipal Operations
Written agreements with municipalities and special districts served by the Authority
provide for negotiated charges for the operation of nineteen municipal wastewater
treatment plants.
7. Hazardous Waste Management Center
Planning, research and permit application activities related to a proposed Hazardous
Waste Management Center have been undertaken by the Authority. Part of the expen-
ditures in this project are expected to be reimbursed by the industries to be involved
in the operations. A partial reimbursement was received in 1980.
8. Bellaire Solid Waste Transfer Station
Planning, research and permit application activities related to a proposed Solid Waste
Transfer Station have been jointly undertaken by the Authority and the City of Bellaire.
The capacity for handling solid waste at this facility contemplates use by the City of
Bellaire and well as other municipal and private users.
9. Glen Forest Pollution Control District
)
This Pollution Control District was created at the request of the citizens in the local
subdivision.
6
1
GULF COAST WASTE DISPOSAL AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS
December 31, 1980
Note 2: Summary of Significant Accounting Policies (Continued)
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) . Such resources are derived principally from proceeds of special
obligation bond issues (see note 7) and contributions received from municipalities and
industries.
PROPRIETARY FUNDS
Enterprise Funds
Enterprise funds are used to account for operations that are financed and operated in
a manner similar to private business enterprises. The intent of the Authority is that
the costs (expenses, including depreciation) of providing services to industries,
municipalities or special districts be financed or recovered through user charges. The
following operations are accounted for in enterprise funds:
1. Bayport Area System Revenue Fund
Revenues of the Bayport Area System Revenue Fund result from metered charges
for wastewater treatment for industries in the Bayport Industrial Complex.
2. Equipment Services Fund
Revenues of the Equipment Services Fund consist of rental and operation fees
received from Authority operated waste water treatment plants and other indus-
tries, municipalities and special districts for a mobile sludge unit, a mudcat
dredge, trucks and other equipment.
FIDUCIARY FUNDS
Trust Funds
Trust funds are used to account for assets held by the Authority in a trustee capacity.
The Authority uses the following trust funds:
Pension Trust Fund
The Employees' Pension Fund accounts for the transactions, assets, liabilities, and
fund equity of the Authority's defined benefit retirement plan.
Unexpendable Trust Fund
The Texas City Landfill Perpetual Maintenance Fund was created by contractual agree-
ment with the participants in the Texas City Solid Waste Disposal Landfill to comply
with the Texas Solid Waste Disposal Act and regulations of the Texas Department of
Water Resources. A percentage of the annual operating costs of the landfill are
held in trust for the perpetual maintenance of the site when it is no longer used
for the disposal of wastes.
B. Basis of Accounting
All governmental funds are accounted for using the modified accrual basis of accounting.
Their revenues are recognized when they become measurable and available as net current
assets. Expenditures and liabilities are recognized when obligations are incurred as a
result of receipt of goods and services, with the following exceptions: (1) accumulated
employee unpaid vacation and sick pay; and (2) principal and interest on general long-term
debt, which is recognized when due.
All proprietary funds and the pension trust and the unexpendable trust funds are accounted
for using the accrual basis of accounting. Their revenues are recognized when earned and
their expenses are recognized when incurred.
C. Budgets
Although the Authority is not required by law to adopt an annual budget for the General
Fund, an estimate of annual revenues and expenditures is presented to the Board of Directors
at the beginning of each year. Agreements with the participants in the waste water treat-
ment plants and industrial solid waste landfill operated by the Authority require the
preparation of annual operating budgets, to be approved by the participants. The budgets
are the basis of monthly or quarterly billings for operating costs. Any variances of actual
cost from budgeted revenue are adjusted as receivables or payables at the end of each year.
The Authority prepares an annual budget for the operations of the Bayport Area System. Prior
to its adoption, the budget is provided to users of the system for their comments. To the
fullest extent possible, the Authority operates within the annual budget.
Because there is no statutury requirement that budgets be intergrated into the accounts of
the Authority, no budgetary data is reflected in these financial statements.
7
GULF COAST WASTE DISPOSAL AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS
December 31, 1980
Note 2: Summary of Significant Accounting Policies (Continued)
D. Investments
Investments are stated at cost, which approximates market in all funds except the
Employees' Pension Fund. The market value of investments held in that fund approximates
$346,913 in relation to amortized cost of approximately $413,577.
E. Inventories
Inventories of materials and supplies are recorded as expenditures when purchased.
F. Long-Term Notes Receivable
The non-current portion of long-term notes receivable reported as assets are equally offset
by fund balance reserve accounts. This special reporting treatment indicates that these
receivables do not constitute available spendable resources, since they are not components
of net current assets. (See Note 3.)
G. Fixed Assets
Capital expenditures for the acquisition, construction, or improvement of fixed assets are
reported as capital outlay in governmental type funds. Those assets that the Authority
owns are capitalized in the General Fixed Asset Account Group at cost. No provision is
made for depreciation.
Expenditures for property, plant, and equipment are recorded as assets in proprietary type
funds at cost. Maintenance and repairs which do not extend the useful lives of the assets
or materially increase their value are expensed when incurred.
Depreciation is provided on Bayport Area System Revenue Fund fixed assets over the average
estimated useful life of plant and equipment, on the asset group method. The straight-lime
method at group rates of 5% to 10% is used.
Depreciation is provided on Equipment Services Fund fixed assets over the estimated usefuL
life of each asset, using the straight-line method at rates of 10% to 33-1/2%.
H. Long-Term Debt
Unmatured long-term liabilities of the Authority related to governmental type funds are
reported in the General Long-Term Debt Account Group. Expenditures for principal and
interest are shown as debt service in the governmental funds. In proprietary type funds,
all long-term debt is shown on the balance sheets of the funds.
I. Total Columns on Combined Statements
Total columns on the combined statements are captioned Memorandum Only to indicate that
they are presented only to facilitate analysis. Data in these columns do not present
financial position, results of operations, or changes in financial position 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.
Note 3: Long-Term Notes Receivable
In 1976 the General Fund advanced to the Equipment Services Fund (an enterprise fund) $300,000
to finance the cost of construction of a mobile sludge dewatering unit. In 1977 it advanced an
additional $84,000 for the purchase of a dredge and other equipment. These advances are payable
from the revenues of the Equipment Services Fund in semi-annual installments of $27,633, includ-
ing interest at 7-1/2%, over a ten year period.
In 1979 the Authority entered into a land lease/ installment sale agreement with the City of Texas
City. The sum of $120,000 is receivable in annual installments of $24,000 each.
The following is a summary of long-term notes receivable transactions of the Authority for the
year ended December 31, 1980:
Interfund Land Lease/
Note Installment
Receivable Sale Total
Balance at beginning of year $328,014 $96,000 $424,014
Payments received 31,241 24,000 55,241
Balance at end of year $296,773 $72,000 $368,773
Current portion $ 33,628 $24,000 $ 57,628
Long-term portion 263,145 48,000 311,145
Total $296,773 $72,000 $368,773
8
GULF COAST WASTE DISPOSAL AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS
December 31, 1980
Note 4: Bayport Area System Revenue Fund Restricted Assets
Construction Fund Net Assets
The proceeds of the Bayport Area System Revenue Bonds, Series 1979 and legally authorized
expenditures from these proceeds are accounted for in a subsidiary group of accounts called
the "Construction Fund". The most significant expenditures from these proceeds have been to
refund the Junior Lein Bonds, Series 1976 and to improve and expand the wastewater treat-
ment facilities of the Bayport Area System. During 1980, by resolution of the Board of
Directors, the Bayport Area System Revenue Fund made operating transfers of $1,060,000 to the
Construction Fund to provide for additional capital improvements of the system.
The capital expenditures of the Construction Fund are recorded in the Bayport Area System
Revenue Fund (an enterprise fund) as additions to fixed assets and as reductions of restricted
Construction Fund net assets.
A summary of the Construction Fund net assets at December 31, 1980 and 1979 is shown below:
1980 1979
Assets:
Cash $ 5,103 $ 86,173
Time deposits 1,085,000 3,731,000
U.S. government securities, at cost 210,000 666,061
Accrued interest receivable 20,130 200,480
Liabilities:
Accounts payable (324,099) (190,676)
Contracts payable - retained
percentage (374,331) (40,670)
Net assets $ 621,803 $4,452,368
Revenue Bond Resolution Restricted Assets
The Bayport Area System Revenue Bonds, Series 1979 Resolution requires that the "Net Revenues
of the System" shall be deposited into the (1) Interest and Redemption Fund, (2) The Reserve
Fund, and (3) The Contingency Fund as follows:
Interest and Redemption Fund
The Authority is required to deposit semiannually with the trustee to the credit of the
Interest and Redemption Fund such amounts as will be sufficient to pay the debt service
requirements of the bonds.
Reserve Fund
The System is required to maintain a reserve fund in an amount equal to the greatest
annual debt service requirements of all the outstanding bonds. Whenever the fund
contains less than the required amount, the System shall transfer monthly from the
Revenue Fund, a sum of at least 1/60th of the deficiency in the required amount until
the Reserve Fund requirement is attained. At December 31, 1980 the Revenue Fund balance
was $1,059,115 which was equal to the required amount.
Contingency Fund
The Contingency Fund is restricted for the purposes of paying (1) the cost of unexpec-
ted or extraordinary repairs and replacements of the System for which other funds are
not available, (2) unexpected or extraordinary expenses of operation and maintenance of
the System for which other funds are not available and (3) the principal, redemption
premium, if any, and interest on any outstanding bonds when and to the extent the In-
terest and Redemption Fund and the Reserve Fund are insufficient for such purposes. The
Bond Resolution requires that an aggregate amount of $200,000 be deposited in the Con-
tingency Fund and whenever the fund contains less than the required amount, deposits of
$5,000 monthly are to be made until the required amount is restored. At December 31,
1980 the Contingency Fund balance was $200,000.
Note 5: Changes in General Fixed Assets
A summary of changes in General Fixed Assets for the year ended December 31, 1980 follows:
Balance Balance
12/31/79 Additions Deductions 12/31/80
Office building $ 614,224 $ 43,252 $ - $ 657,476
Wastewater treatment plants 90,618,705 11,419,194 - 102,037,899
Furniture, fixtures and equipment 198,928 15,940 - 214,868
Computer 162,085 17,076 - 179,161
Work in progress 12,463,264 4,581,367 10,934,911 6,109,720
Total $104,057,206 $16,076,829 $10,934,911 $109,199,124
9
GULF COAST WASTE DISPOSAL AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS
December 31, 1980
Note 5: Changes in General Fixed Assets (Continued)
Construction in progress is composed of the following:
Expended to
December 31, 1980
Industrial projects:
Forty Acres Landfarm $2,065,761
4\ Municipal projects:
Backhawk Central Plant 1,840,381
1 White Oak Bayou Plant-Phase II 1,580,797
Metro Central Plant 182,758
Spring/Cypress Plant-Phase III 975
Beltway Central Plant-Phase III 439,048
Total $6,109,720
Note 6: Long-Term Debt
Bayport Revenue Bonds, Series 1976 and 1979
The bonds outstanding are special obligations of the Authority which are secured by a first lien
on the "Net Revenues of the System", as defined below. The Bonds also are secured by all monies
in the Interest and Redemption Fund, the Construction Fund, the Contingency Fund, and the Revenue
Fund, subject to the use of such funds for the purposes specified in the Bond Resolution. The
holder of the bonds shall never have the right to demand payment of the bonds from monies derived
or to be derived from taxation or any other revenues except those revenues pledged. Neither the
facilities owned by the Authority nor any other property of the Authority is encumbered by any
lien for the benefit of the holder of the bonds; the bonds are payable solely from revenues
pledged to their payment and shall not be considered as general obligations of the Authority, the
governing body of the Authority, or the State of Texas.
The "Net Revenues of the System" is defined as the "Gross Revenues of the System" less the
"Current Expenses of the System".
The "Gross Revenues of the System" includes all of the revenues of every nature derived from the
operation of the System including all investment income for any fund created by the Bond Res-
olution to the extent such income is c:Ledited to the "Gross Revenues of the System" as required
by the Bond Resolution.
The "Current Expenses of the System" includes all necessary current operating and maintenance
expenses, and the Authority's actual overhead and management costs relating to the System, but
does not include depreciation and debt service of the bonds.
Interfund Note Payable
In 1976 and 1977 the General Fund advanced a total of $384,000 to the Equipment Services Fund
for the construction and purchase of equipment as explained in note 3.
General Long-Term Debt
Office building bonds in the principal amount of $515,000 were issued in 1973 to finance the
cost of acquisition of a two-story building to house the Authority's general offices. The
bonds are a direct obligation of the Authority and are secured by a (1) first lien on the
building, (2) first lien on the "net revenues" of the building, and (3) pledge of certain
management fees earned by the General Fund.
1 In 1979, the Authority entered into a capital lease agreement covering computer equipment for
a term of five years at a monthly rental of $3,241.70, with an option to purchase the equip-
ment at the end of the lease term at a nominal price. The fair value of the equipment is
included in the General Fixed Assets Account Group and the lease obligation is included in
the General Long-Term Debt Account Group.
The following is a summary of long-term debt transactions of the Authority for the year ended
December 31, 1980:
Bayport
Area Office
System Interfund Building Capital
Revenue Note Revenue Lease
Bonds Payable Bonds Agreement Total
Balance, December 31, 1979 $13,395,000 $328,014 $415,000 $194,502 $14,332,516
Debt reduction 160,000 31,241 20,000 32,417 243,658
Balance, December 31, 1980 $13,235,000 $296,773 $395,000 $162,085 $14,088,858
10
GULF COAST WASTE DISPOSAL AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS
December 31, 1980
Note 6: Long-Term Debt (Continued)
Bayport Area System revenue bonds payable at December 31, 1980 are comprised of the following k
issues:
Amount Balance
Issue Issued 12/31/80
1976 $4,550,000 $ 4,310,000
1979 $9,000,000 8,925,000
$13,235,000
POIV
The annual requirements to amortize all debt outstanding as of December 31, 1980 including
interest payments are as follows:
Bayport
Area Office
System Interfund Building Capital
Year Ending Revenue Note Revenue Lease
December 31 Bonds Payable Bonds Agreement Total
1981 $ 1,056,120 $ 55,267 $ 42,043 $ 38,900 $ 1,192,330
1982 1,056,105 55,267 41,022 38,900 1,191,294
1983 1,055,405 55,267 44,992 38,900 1,194,564
1984 1,059,115 55,267 43,693 38,900 1,196,975
1985 1,056,960 55,267 42,380 6,485 1,161,092
1986-1990 5,270,486 110,538 270,570 - 5,651,594
1991-2009 20,011,766 - 134,160 - 20,145,926
$30,565,957 $386,873 $618,860 $162,085 $31,733,775
Note 7: Pollution Control Revenue Bonds
To accomplish its purposes, the Authority is empowered to issue bonds to finance the construction
or acquisition of water, air, environmental, and solid waste pollution control facilities. The
bonds so issued are special obligations of the Authority and debt service on the bonds, as to
principal and interest when due, is secured and paid from revenues from agreements made by the
Authority with whomever the pollution control facilities serve. The holders of the bonds shall
never have the right to demand payment of the bonds fran monies derived or to be derived by tax-
ation or any other revenues of the Authority except those revenues pledged, constituting debt
service charges or payments made under the Guaranty Agreements, as defined. Neither the fac-
ilities owned by the Authority nor other property of the Authority is encumbered by any lien for
the benefit of the holders of the bonds; the bonds are payable solely from revenues pledged to
their payment and shall not be considered as general obligations of the Authority, the governing
body of the Authority, or the State of Texas. Therefore, these bonds are not included in the
general long-term group.
Schedules of bonds issued for industrial and municipal projects are shown as supplemental data on
pages 47 through 50.
Note 8: Ownership of Wastewater Treatment Plants
Generally, the Authority becomes the owner of the industrial wastewater treatment plants it
constructs or acquires from the proceeds of bonds issued. Municipal wastewater treatment plants
owned by the Authority are financed through contributions received from municipalities and land
developers as well as bond issues. The ownership of the industrial wastewater treatment plants
remains with the Authority until the bonds issued for their construction are retired, at which
time the ownership of these plants revert to industry, with the exception of the Forty Acres Plant,
the Rohm & Haas Plant, and the Washburn Tunnel Plant. The ownership of air and environmental
pollution control facilities financed from the proceeds of revenue bonds are conveyed to industry
upon completion of construction or acquisition.
The construction of the Forty Acres Plant was financed through the issuance of Union Carbide
Corporation Project revenue bonds and through additional contributions made by Union Carbide.
Under the Facilities Agreement, Union Carbide has the option of purchasing the facility at
appraised values, as defined. However, Union Carbide may not exercise its option to purchase if
other corporations are also using the facilities. The ownership of the Rohm & Haas Plant and the
Washburn Tunnel Plant remains with the Authority as long as they are used for waste water treatment.
Note 9: Pledged Revenues - Bayport Area System Revenue Fund
As explained in note 6, Bayport Area System Revenue Bonds are secured by a pledge of the "Net
Revenues of the System". "Net Revenues of the System" are also pledged to the required deposits
in the Interest and Redemption Fund, the Reserve Fund and the Contingency Fund, as discussed in
note 4. Any surplus revenues are to be used for paying semi-annually, on each interest payment
date, one-half of the annual management fee of $77,925 to the General Fund. An aggregate amount
of $50,000 may be accumulated from surplus revenues and placed in the Construction Fund to be
used for improving the System. Any remaining surplus revenues may be used by the System for any
lawful purpose.
11
GULF COAST WASTE DISPOSAL AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS
December 31, 1980
Note 10: Deficit Fund Balance
Expenditures exceed revenues for the year ended December 31, 1980 in the Hazardous Waste Nana-
, gement Center Fund of $268,231, in the Bellaire Solid Waste Transfer System Fund of $39,943, and
the Glen Forest Pollution Control Distruct of $11,228.
Note 11: Segment Information for Enterprise Funds
The Authority maintains two enterprise funds as explained in note 2. Segment information for the
year ended December 31, 1980 was as follows:
Bayport Equipment
Area Services
System Fund Total
Operating revenues $ 3,209,389 $406,491 $ 3,615,880
Depreciation and amortization
expense 416,979 61,056 478,035
Operating income 533,531 111,558 645,089
Net income 456,845 95,678 552,523
Property, plant and equipment
additions 5,339,822 85,101 5,424,923
Net working capital 1,543,466 65,100 1,608,566
Total assets 16,109,181 477,665 16,586,846
Bonds and other long-term
liabilities - payable from
operating revenues 13,235,000 296,773 13,531,773
Total equity 2,495,834 170,835 2,666,669
Note 12: Individual Fund Interfund Receivable and Payable Balances
A detail of individual fund interfund receivable and payable balances at December 31, 1980 is
shown below:
Interfund Interfund
Receivables Payables
General Fund $329,164 $ -
Special Revenue Funds:
Washburn Tunnel Plant 1,843 9,589
Forty Acres Plant 228 199
American Plant - 426
Texas City Landfill - 3,619
Municipal Operations 3,044 2,874
Hazardous Waste Management Center - 252,876
Bellaire Solid Waste Transfer
Station - 36,137
Glen Forest Pollution Control District - 11,228
Capital Projects Funds:
Champion International Corp.
Project - 1,843
Enterprise Funds:
Bayport Area System Revenue
Fund 106 21,160
Equipment Services Fund 5,388 3,044
Fiduciary Funds:
Texas City Landfill Perpetual
Maintenance Fund 3,222 -
Totals $342,995 $342,995
12
GULF COAST WASTE DISPOSAL AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS
December 31, 1980
Note 13: Employees' Pension Plan
The pension plan of Gulf Coast Waste Disposal Authority is a defined benefit plan that covers
all eligible employees. It is accounted for as a separate Pension Trust Fund. The Authority
is making contributions in amounts sufficient to annually fund the plan's current service cost
and to amortize the unfunded past service cost over twenty years.
Information regarding the plan agreement and the vesting and benefit provisions is contained
in the booklet Employees' Pension Plan. Copies of the booklet are available from the personnel
department of the Authority.
An actuary from A. S. Hansen, Inc. annually determines the actuarial present value of the accu-
mulated plan benefit liability. This liability as of the valuation date, January 1, 1980, was
as follows:
Amount
Vested benefits:
Retired participants $ 4,774
Beneficiaries (in-service
death benefit) -
Terminated participants 11,662
Active participants 231,305
247,741
Unvested benefits:
Active participants 122,996
Total liability $370,737
Significant assumptions underlying the actuarial calculations are:
Investment return 6-1/2% per annum, compounded annually
Retirement age Age 65, or present age if greater
Mortality basis:
Active participants and non-
disabled pensioners 1975 Group Annuity Mortality Table
Disabled pensioners 1965 Railroad Retirement Board Totally
Disabled Annuitants Mortality Table
Earnings progression Percentage increase at specified age
Note 14: Legal Matters
The Authority was plaintiff in a suit brought by the taxing authorities of Harris County and
Pasadena Independent School District seeking to collect back taxes from the date of the Author-
ity's aquisition of the Washburn Tunnel facilities to the present time. The matter was pre-
viously appealed to the Supreme Court of Texas where a decision was rendered to the effect that
the Authority is not the "sole owner" of such facilities and that the property, at least to some
unspecified extent, would be subject to tax payments by the Authority or by the industrial users
of such facilities. The Supreme Court remanded the case for trial in the District Court of
Harris County for a determination of what portion of the value of the facilities is subject to
taxation and to determine the parties liable therefor. The Authority is currently vigorously
contesting that any portion of the value of the facilities are taxable to it and it is the
opinion of legal counsel that any taxes determined to be payable by the Authority will be passed
through to the industrial concerns having their waste treated at the facilities pursuant to an
existing contractual arrangement between the Authority and those parties.
The Authority was one of several named defendants in a suit brought by the United States of
America for civil penalties under the Federal Water Pollution Control Act, as amended by the
Clean Water Act of 1977. The Authority has entered into an agreement with the United States to
settle the action for a total sum of $20,000. Legal counsel is in the process of preparing a
final judgement to reflect this agreement.
13
Financial Statements
Of
Individual Funds
14
GULF COAST WASTE DISPOSAL AUTHORITY
GENERAL FUND
COMPARATIVE BALANCE SHEETS
December 31, 1980 and 1979
1980 1979
Assets
Cash $ 66 ,231 $ 323,623
Time deposits 1,155,890 1,107 ,750
U.S. government securities, at cost - 265,805 ►a
Accounts receivable 50,117 78,760
Due from other funds 329,164 19,481
Accrued interest receivable 44,325 43,282
Prepaid expense 12,435 8,494
Current portion of note receivable
from Equipment Services Fund 33,628 31,241
Long-term portion of note receivable,
Equipment Services Fund 263,145 296,773
Advance to other funds 10 -
Restricted assets:
Deferred Compensation Plan:
Cash 350 531
U.S. government securities 69,650 79,469
Debt service cash - 66
Employee savings accounts - 2,577
Risk insurance deposit 1,317 1,317
Other assets 10,273 9,137
Total assets $2,036,535 $2,268,306
Liabilities and Fund Balance
Liabilities:
Accounts payable $ 31,801 $ 51,011
Due to other funds - 5,152
Accrued interest, building bonds 9,184 9,605
Accrued payroll taxes 27 ,300 63,084
Refundable deposits - 285
Deferred revenues - 12,500
Total liabilities 68,285 141,637
Fund balance:
Reserved for deferred compensation 70,000 80,000
Reserved for long-term receivable 263,145 296,773
Unreserved 1,635,105 1,749,896
Total fund balance 1,968,250 2,126,669
Total liabilities and fund balance $2,036,535 $2,268,306
See notes to the financial statements.
15
GULF COAST WASTE DISPOSAL AUTHORITY
GENERAL FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
Year Ended December 31, 1980
1980 1979
Revenues:
Services to municipalities:
Management fees $ 34,496 $ 24,882
Financing fees 22,141 20,981
Accounting fees 26,436 21,072
Project administration 59,707 41,853
Other - 857
Total services to municipalities 142,780 109,645
Services to industries:
Management fees 512,903 459,621
Financing fees 95,886 266,629
Technical assistance fees 320,891 289,274
Administrative fees 223,127 221,404
Accounting fees 20,000 -
Total services to industries 1,172,807 1,236,928
Other revenues:
Interest earned 186,853 168,192
Computer fees 46,900 Recovery of sales tax, prior years 20,000 20,000
Rental income 32,531 30,261
Other 145 -
Total other revenues 286,429 218,453
Total revenues 1,602,016 1,565,026
Expenditures:
Personnel services 1,023,218 842,667
Materials and supplies 73,959 55,600
Building and occupancy cost 42,990 35,122
Contractual services 58,769 100,031
Other operating expenses 304,813 292,380
Capital outlay 74,658 77,206
Hazardous Waste Study costs - 20,049
Debt service:
Bond interest 22,632 23,636
Bond principal payments 20,000 20,000
Capital lease payments 32,417 -
Total expenditures 1,653,456 1,466,691
Excess (deficiency) of revenues over expenditures (51,440) 98,335
Other financing sources (uses) :
Operating transfers out (25,000) (18,017)
Excess (deficiency) of revenues and other
financing sources over expenditures and other uses (76,440) 80,318
Fund balance at beginning of year 2,126,669 2,046,351
Equity transfer out (81,979) -
Fund balance at end of year $1,968,250 $2,126,669
See notes to the financial statements.
16
GULF COAST WASTE DISPOSAL AUTHORITY
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
December 31, 1980
Washburn Forty Texas
Tunnel Acres American Blackhawk City
Plant Plant Plant Plant Landfill
Assets
Cash $ 962 $ 57,783 $ 1,520 $ 3,425 $ 3,007
Time deposits - - - 110,000 125,000
U.S. government securities, at cost 58,000 - 27,000 - 55,000
Accounts receivable 960,702 282,363 582,037 61,829 20,720 t
Due from other funds 1,843 228 - - -
Accrued interest receivable - - - 45 620
Prepaid expense 27,518 7,199 171 1,053 1,418
Risk insurance premium deposit 19,940 6,190 - - -
Restricted asset:
Cash - planning fund - - - - -
Total assets $1,068,965 $353,763 $610,728 $176,352 $205,765
Liabilities and Fund Balance
Liabilities:
Accounts payable $ 453,700 $ 34,468 $160,357 $ 58,041 $ 22,496
Due to other funds 9,589 199 426 - 3,619
Advance reimbursement of expenses 605,676 319,096 302,945 - 88,890
Advance for working capital - - 147,000 118,311 90,760
Total liabilities 1,068,965 353,763 610,728 176,352 205,765
Fund balance:
Reserved for planning - - - - -
Unreserved - - - - -
Total fund balance - - - - -
Total liabilities and
fund balance $1,068,965 $353,763 $610,728 $176,352 $205,765
17
Hazardous Bellaire Glen Forest
Waste Solid Waste Pollution
Municipal Management Transfer Control Totals
Operations Center Station District 1980 1979
$ 11,095 $ 437 $ 10 $ - $ 78,239 $ 825,328
100,000 - - - 335,000 -
25,000 - - - 165,000 -
143,190 - - - 2,050,841 265,122
3,044 - - - 5,115 206
481 - - - 1,146 -
12,908 - - - 50,267 48,489
10,826 - - - 36,956 26,657
- - - - - 16,125
$306,544 $ 437 $ 10 $ - $2,722,564 $1,181,927
$ 20,055 $ 15,792 $ 3,806 $ - $ 768,715 $ 546,197
2,874 252,876 36,137 11,228 316,948 71,044
39,579 - - - 1,356,186 173,799
- - 10 - 356,081 237,760
62,508 268,668 39,953 11,228 2,797,930 1,028,800
- - - - - 16,125
244,036 (268,231) (39,943) (11,228) (75,366) 137,002
244,036 (268,231) (39,943) 11,228) (75,366) 153,127
$306,544 $ 437 $ 10 $ - $2,722,564 $1,181,927
See notes to the financial statements,
i 18
GULF COAST WASTE DISPOSAL AUTHORITY
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
Year Ended December 31, 1980
Washburn Forty Texas
Tunnel Acres American Blackhawk City
Plant Plant Plant Plant Landfill
Revenues:
Reimbursement of operating expenses $6,539,563 $485,743 $2,309,487 $95,589 $301,849
Outside contracts and special charges 212,166 146,097 30,920 3,000 20,923
Interest earned 9,808 13,652 2,665 45 20,373
Other - - - - -
Total revenues 6,761,537 645,492 2,343,072 98,634 343,145
Expenditures:
Personnel costs 1,093,414 357,093 243,635 48,862 94,810
Materials and supplies 167,706 52,805 772,749 21,398 20,001 _`
Electricity 567,954 313 565,109 17,290 2,753
Repairs and maintenance 1,360,025 117,902 410,787 720 49,339
Contractual services 157,269 10,619 20,254 - 4,645
Other operating expenses 3,164,120 71,885 187,548 10,364 135,013
Capital outlay 251,049 34,875 142,990 - 36,584
Extraordinary repairs and replacements - - - - -
Project development costs - - - - -
Land option - - - - -
Total expenditures 6,761,537 645,492 2,343,072 98,634 343,145
Excess (deficiency) of revenues
over expenditures - - - - -
Other financing sources:
Contributions - - - - -
Operating transfers in - - - - -
Operating transfers out - - - - -
Total other financing sources (uses) - - - - -
Excess (deficiency) of revenues and other
financing sources over expenditures and
other uses - - - - -
Fund balance at beginning of year - - - - -
Equity transfer in - - - - -
Fund balance at end of year $ - $ - $ - $ - $ -
19
Hazardous Bellaire Glen Forest
Waste Solid Waste Pollution
Municipal Management Transfer Control Totals
Operations Center Station District 1980 1979
$ 495,056 $ - $ - $ - $10,227,287 $8,795,219
643,308 - - - 1,056,414 686,284
9,452 - - - 55,995 49,172
13,217 - - - 13,217 3,530
1,161,033 - - - 11,352,913 9,534,205
383,677 - - - 2,221,491 1,814,573
146,895 - - - 1,181,554 769,340
190,712 - - - 1,344,131 1,171,390
134,439 - - - 2,073,212 1,640,804
- - - - 192,787 63,978
212,792 - - - 3,781,722 3,262,064
1,609 - - - 467,107 231,556
- - - - - 449,310
- 362,210 60,343 11,228 433,781 -
- 113,000 - - 113,000 -
1,070,124 475,210 60,343 11,228 11,808,785 9,403,015
90,909 (475,210) (60,343) (11,228) (455,872) 131,190
- 100,000 20,400 - 120,400 -
- 25,000 - - 25,000 -
- - - - - (49,800)
- 125,000 20,400 - 145,400 (49,800)
90,909 (350,210) (39,943) (11,228) (310,472) 81,390
153,127 - - - 153,127 71,737
- 81,979 - - 81,979 -
$ 244,036 $(268,231) $(39,943) $(11,228) $ (75,366) $ 153,127
See notes to the financial statements.
20
GULF COAST WASTE DISPOSAL AUTHORITY
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
December 31, 1980
Industrial Municipal Totals
Projects Projects 1980 1979
Assets
Cash in bank $ 36,023 $ 1,103 $ 37,126 $ 274,259
Time deposits 4,107,020 1,340,023 5,447,043 5,657,215
U.S. government securities,
at cost 5,170,419 - 5,170,419 25,631,051
Accounts receivable 4,473 825,630 830,103 1,317,839
Accrued interest receivable 169,408 10,197 179,605 219,520
Current portion of long-term
installment receivable 24,000 - 24,000 24,000
Due from other funds - - - 50,082
Long-term installment receivable
lease/sale of land, less current
portion 48,000 - 48,000 72,000
Total assets $9,559,343 $2,176,953 $11,736,296 $33,245,966
Liabilities and Fund Balances
Liabilities:
Accounts payable $ 287,533 $ 772,244 $ 1,059,777 $ 1,496,921
Due to other funds 1,843 - 1,843 -
Total liabilities 289,376 772,244 1,061,620 1,496,921
Fund balance:
Reserved for long-term receivable 48,000 - 48,000 72,000
Unreserved 9,221,967 1,404,709 10,626,676 31,677,045
Total fund balance 9,269,967 1,404,709 10,674,676 31,749,045
Total liabilities and
fund balance $9,559,343 $2,176,953 $11,736,296 $33,245,966
See notes to the financial statements.
21
GULF COAST WASTE DISPOSAL AUTHORITY
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
Year Ended December 31, 1980
Industrial Municipal Totals
Projects Projects 1980 1979
Revenues:
Interest $ 2,800,681 $ 287,437 $ 3,088,028 $ 3,399,258
Other - - - 1,160
Total revenues 2,800,681 287,347 3,088,028 3,400,418
Expenditures:
Construction Costs:
Authority owned projects 1,765,445 2,839,041 4,604,486 8,686,354
Non-Authority owned projects 34,557,011 61,744 34,618,755 54,968,071
j Transfer to debt service 5,385,522 8,151 5,393,673 1,100,053
Total expenditures 41,707,978 2,908,936 44,616,914 64,754,478
Excess (deficiency) of revenues
over expenditures (38,907,297) (2,621,589) (41,528,886) (61,354,060)
Other financing sources (uses) :
Revenue bonds issued 18,400,000 - 18,400,000 43,455,000
Bond issue and discount cost (259,475) - (259,475) (909,374)
Contributions 7,500 2,627,903 2,635,403 7,339,901
Return of contributions - (272,611) (272,611) (93,840)
Sale of surplus equipment 1,000 - 1,000 111,200
Lease/sale of land - - - 120,000
Proceeds from insurance claim - - - 1,200,000
Transfers out (49,800) - (49,800) -
Total other financing
sources (uses) 18,099,225 2,355,292 20,454,517 51,222,887
Excess (deficiency) of revenues
and other financing sources
over expenditures and other uses (20,808,072) (266,297) (21,074,369) (10,131,173)
Fund balance at beginning of year 30,078,039 1,671,006 31,749,045 41,880,218
Fund balance at end of year $ 9,269,967 $1,404,709 $10,674,676 $31,749,045
See notes to the financial statements.
f 22
a
GULF COAST WASTE DISPOSAL AUTHORITY
CAPITAL PROJECTS FUNDS - INDUSTRIAL
COMBINING BALANCE SHEET
December 31, 1980
Diamond
Champion United States Steel Exxon Corporation *Texas City Forty Acres *FMC Shamrock Ur
Int'l Corp. Corporation Projects Projects Landfill Landfarm Corp. Corporation
Project 1976 1978 *1976 1979 Project Project Project Project 11
Assets
Cash in bank $ 20,276 $ 922 $ 183 $ - $ 4,536 $ 147 $ 1,000 $ - $3,314 $
Time deposits - 1,694,000 235,000 - - - 364,493 - -
U.S. government securities,
at cost 1,846,817 - - - 304,340 - - - -
Accounts receivable - - - - - 1,892 2,581 - -
Current portion of long-
term installment receivable - - - - - - 24,000 - -
Accrued interest receivable 11,784 39,130 6,534 - 11,430 - 1,813 - -
Due from other funds - - - - - - - - -
Long-term installment
receivable, lease/sale of
land,less current portion - - - - - - 48,000 - -
Total assets $1,878,877 $1,734,052 $241,717 $ - $320,306 $2,039 $441,887 $ - $3,314 $
Liabilities and
Fund Balances
Liabilities:
Accounts payable $ - $ - $ - $ - $ - $ - $ 47,586 $ - $ - $
Due to other funds 1,843 - - - - - - - -
Total liabilities 1,843 - - - - - 47,586 - -
Fund balance:
Reserved for long-term
receivable - - - - - - 48,000 - -
Unreserved 1,877,034 1,734,052 241,717 - 320,306 2,039 346,301 - 3,314
Total fund balance 1,877,034 1,734,052 241,717 - 320,306 2,039 394,301 - 31.314
-
Total liabilities and
fund balances $1,878,877 $1,734,052 $241,717 $ - $320,306 $2,039 $441,887 $ - $3,314 $
*Fund closed during year.
,
S
23
Amoco Oil American *Houston
'ion Carbide Corp. Amoco Chem- Hoechst Quaker Oats Monsanto Company Lighting & ICI Americas, Inc.
Projects icals Corp. Corporation Company Projects Power Co. Projects Totals
.979 1979 *Project *Project Project 1977 *1980 Project 1980 1980 1980 1979
_ $ - $ - $ - $ - $ - $ - $ - $ 4,709 $ 936 $ 36,023 $ 127,894
- 854,604 774,286 - - 184,637 - - - - 4,107,020 5,657,215
- _ _ - - - 2,327,754 691,508 5,170,419 23,756,135
- - - - - - - - - - 4,473 658,669
- - _ - - - - - - 24,000 24,000
35,780 51,101 - - 3,005 - - 6,808 2,023 169,408 194,692
_ _ _ - - - - - - - - 50,082
_ - _ _ - - - - - 48,000 72,000
$890,384 $825,387 $ - $ - $187,642 $ - $ - $2,339,271 $694,467 $9,559,343 $30,540,687
- $ - $239,947 $ - $ - $ - $ - $ - $ - $ - $ 287,533 $ 462,648
- - - - - - - - - 1,843 -
- 239,947 - - - - - - - 289,376 462,648
- - - - - - - - 48,000 72,000
- 890,384 585,440 - - 187,642 - - 2,339,271 694,467 9,221,967 30,006,039
890,384 585,440 - - 187,642 - - 2,339,271 694,467 9,269,967 30,078,039
- $890,384 $825,387 $ - $ - $187,642 $ - $ - $2,339,271 $694,467 $9,559,343 $30,540,687
See notes to the financial statements.
24
GULF COAST WASTE DISPOSAL AUTHORITY
CAPITAL PROJECTS FUNDS - INDUSTRIAL
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
Year Ended December 31, 1980
Diamond
Champion United States Steel Exxon Corporation Texas City Forty Acres FMC Shamrock
Int'l Corp. Corporation Projects Projects Landfill Landfarm Corp. Corporation
Project 976 1978 1976 1979 Project Project Project Project
Revenues:
Interest $ 182,366 $ 184,527 $ 26,361 $ 743,039 $ 69,243 $ 26,908 $ 98,214 $ 31,064 $ 23,592
Other - - - - - - - - -
Total revenues 182,366 184,527 26,361 743,039 69,243 26,908 _ 98,214 31,064 23,592
Expenditures:
Construction costs:
Authority owned projects 23,119 - - - - 513,626 1,228,700 - -
Industry owned projects - 93,336 - 3,219,066 899,468 - - 484,190 1,165,869
Transfers to debt service _ - - - 4,379,669 53,060 - - 124,677 142,918
Total expenditures 23,119 93,336 - 7,598,735 952,528 513,626 1,228,700 608,86f 1,308,787
Excess (deficiency) of
revenues over expenditures 159,247 91,191 26,361 (6,855,696) (883,285) (486,718) (1,130,486) (577,803) (1,285,195)
Other financing sources (uses):
Revenue bonds issued - - - - - - - - -
Bond issue and discount costs - - - - - - - - -
Contribution - - - - - 7,500 - - -
Sale of surplus equipment 1,000 - - - - - - - -
Lease/sale of land - - - - - - - - -
Proceeds from insurance claim - - - - - - - - -
Transfers out - - - - - - (49,800) - -
Total other financing
sources (uses) 1,000 - - - - 7,500 (49,800) - -
Excess (deficiency) of
revenues and other financing
sources over expenditures
and other uses 160,247 91,191 26,361 (6,855,696) (883,285) (479,216) (1,180,286) (577,803) (1,285,195)
Fund balance at beginning of
year 1,716,787 1,642,861 215,356 6,855,696 1,203,591 481,257 1,574,587 577,803 1,288,509
Fund balance at end of year $1,877,034 $1,734,052 $241,717 $ - $ 320,306 $ 2,039 $ 394,301 $ - $ 3,314
25
Amoco Oil American Houston
Union Carbide Corp. Amoco Chem- Hoechst Quaker Oats Monsanto Company Lighting & ICI Americas, Inc.
Projects icals Corp. Corporation Company Projects Power Co. Projects Totals
1979 1979 Project Project Project 1977 1980 Project 1980 1980 1980 1979
$ 192,175 $ 96,223 $ 506,053 $ 207,355 $ 7,344 $ 20,707 $ 19,602 $ 13,750 $ 301,132 $ 51,026 $ 2,800,681 $ 3,028,121
- - - - - - - - - - - 1,160
192,175 96,223 506,053 207,355 7,344 20,707 19,602 13,750 301,132 51,026 2,800,681 3,029,281
- - - - - - - - - - 1,765,445 1,170,882
2,902,251 180,085 5,493,569 4,530,648 141,199 - 1,960,220 4,990,500 8,163,861 332,749 34,557,011 54,551,714
- - - 596,750 6,386 21,536 19,602 13,750 24,614 2,560 5,385,522 1,083,720
2,902,251 180,085 5,493,569 5,127,398 147,585 21,536 1,979,822 5,004,250 8,188,475 335,309 41,707,978 56,806,316
(2,710,076) (83,862) (4,987,516) (4,920,043) (140,241) (829) (1,960,220) (4,990,500) (7,807,343) (284,283) (38,907,297) (53,777,035)
- - - - - - 2,000,000 5,000,000 10,400,000 1,000,000 18,400,000 43,455,000
- - (15,559) - - - (39,780) (9,500) (173,386) (21,250) (259,475) (909,374)
- - - - - - - - - - 7,500 3,095,623
- - - - - - - - - - 1,000 111,200
- - - - 120,000
- - 1,200,000
-
- - - - - - (49,800) -
- - (15,559) - - - 1,960,220 4,990,500 10,226,614 978,750 18,099,225 47,072,449
(2,710,076) (83,862) (5,003,075) (4,920,043) (140,241) (829) - - 2,339,271 694,467 (20,808,072) (6,704,586)
2,710,076 974,246 5,588,515 4,920,043 140,241 188,471 - - - - 30,078,039 36,782,625
$ - $890,384 $ 585,440 $ - $ - $187,642 $ - $ - $ 2,339,271 $ 694,467 $ 9,269,967 $30,078,039
See notes to the financial statements.
26
GULF COAST WASTE DISPOSAL AUTHORITY
CAPITAL PROJECTS FUNDS - MUNICIPAL
COMBINING BALANCE SHEET
December 31, 1980
White Oak Treschwig Beltway Metro
Alief Blackhawk Bayou Central Central Central
Central Central Phase II Phase II Phase II Plant
Assets
Cash in bank $ 732 $ 10 $ 10 $ - $ 10 $ 10
Time deposits 29,000 224,654 635,427 - 417,724 7,167
U.S. government securities
at cost - - - - - -
Accounts receivable - 77,123 - - 31,453 -
Accrued interest receivable 377 1,790 6,272 - 1,432 68
Total assets $ 30,109 $303,577 $ 641,709 $ - $450,619 $7,245
Liabilities and
Fund Balances
Liabilities:
Accounts payable $ - $ 87,046 $ 246,155 $ - $ - $ -
Due to other funds - - - - - -
Total liabilities - 87,046 246,155 - - -
Fund balances 30,109 216,531 395,554 - 450,619 7,245
Total liabilities and
fund balances $ 30,109 $303,577 $ 641,709 $ - $450,619 $7,245
GULF COAST WASTE DISPOSAL AUTHORITY
CAPITAL PROJECTS FUNDS - MUNICIPAL
COMBINING STATEMENT OF REVENUES,
EXPENDITURES, AND CHANGES IN
FUND BALANCES
Year Ended December 31, 1980
White Oak Treschwig Beltway Metro
Alief Blackhawk Bayou Central Central Central
Central Central Phase II Phase II Phase II Plant
Revenues:
Interest $ 9,097 $ 34,150 $ 158,487 $ 1,791 $ 58,465 $ 961
Total revenue 9,097 34,150 158,487 1,791 58,465 --961
Expenditures:
Construction costs -
Authority owned projects 47,166 668,196 1,439,861 (8,485) 148,743 -
Municipality owned projects - - - - - -
Transfers to debt service - - - - - -
Total expenditures 47,166 668,196 1,439,861 (8,485) 148,743 -
Excess (deficiency) of revenues
over expenditures (38,069) (634,046) (1,281,374) 10,276 (90,278) 961
Other financing sources (uses) :
Contributions - 45,961 1,774,683 - - -
Return of contributions (47,328) - (98,454) (11,836) - -
Total other financing
sources (uses) (47,328) 45,961 1,676,229 (11,836) - -
Excess (deficiency) of revenues
and other financing sources
over expenditures and other
uses (85,397) (588,085) 394,855 (1,560) ,90,278) 961
Fund balance at beginning of year 115,506 804,616 699 1,560 540,897 6,284
Fund balance at end of year $ 30,109 $216,531 $ 395,554 $ - $450,619 $7,245
27
Spring/
Kleinwood Cedar Bayou Cypress Beltway
Central Park Utility Road Phase Totals
Phase II District Plant III 1980 1979
$ - $ 108 $218 $ 5 $ 1,103 $ 146,365
- 12,940 - 13,111 1,340,023 -
- - - - - 1,874,916
- - - 717,054 825,630 659,170
- 168 - 90 10,197 24,828
$ - $13,216 $218 $730,260 $2,176,953 $2,705,279
$ - $ - $- $439,043 $ 772,244 $1,034,273
- - - 439,043 77 ,244 1,034,273
- 13,216 218 291,217 1,404,709 1,671,006
$ - $13,216 $218 $730,260 $2,176,953 $2,705,279
Spring/
Kleinwood Cedar Bayou Cypress Beltway
Central Park Utility Road Phase Totals
Phase II District Plant III 1980 1979
$ 19,209 $ 4,951 $ 5 $ 231 $ 287,347 $ 371,137
19,209 4,951 5 231 287,347 371,137
104,512 - - 439,048 2,839,041 7,515,472
- 61,744 - - 61,744 416,357
- 8,151 - - 8,151 16,333
104,512 69,895 - 439,048 2,908,936 7,948,162
(85,303) (64,944) 5 (438,817) (2,621,589) (7,577,025)
45,483 31,742 - 730,034 2,627,903 4,244,278
(114,993) - - - (272,611) (93,840)
(69,510) 31,742 - 730,034 2,355,292 4,150,438
(154,813) (33,202) 5 291,217 (266,297) (3,426,587)
154,813 46,418 213 - 1,671,006 5,097,593
$ - $13,216 $218 $291,217 $1,404,709 $1,671,006
See notes to the financial statements.
28
GULF COAST WASTE DISPOSAL AUTHORITY
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
December 31, 1980
Bayport
Area Equipment Totals
System Services 1980 1979
Assets
Current assets:
Cash in banks $ 12,038 $ 5,854 $ 17,892 $ 194,179
Time deposits 1,000,000 75,000 1,075,000 1,739,000
U.S. government securities,
at cost 135,000 - 135,000 324,892
Accounts receivable 493,165 16,929 510,094 384,454
Due from other funds 106 5,388 5,494 -
Accrued interest receivable 45,160 361 45,521 27,185
Prepaid expense 14,814 5,253 20,067 19,439
Total current assets 1,700,283 108,785 1,809,068 2,689,149
Restricted assets:
Construction Fund net assets 621,803 - 621,803 4,452,368
Revenue Bond Contingency Fund:
Cash, U.S. government securities
and accrued interest 200,000 - 200,000 193,588
Revenue Bond Reserve Fund:
Cash and accrued interest 1,059,115 - 1,059,115 858,521
Total restricted assets 1,880,918 - 1,880,918 5,504,477
Property, Plant and Equipment:
Land 907,489 - 907,489 907,489
Buildings and equipment 12,870,209 210,251 13,080,460 6,563,036
Mobil sludge dewatering unit - 312,421 312,421 312,421
Construction in progress - - - 1,092,501
13,777,698 522,672 14,300,370 8,875,447
Less accumulated depreciation (1,614,587) (153,792) (1,768,379) (1,312,043)
Net fixed assets 12,163,111 368,880 12,531,991 7,563,404
Other assets:
Unamortized bond discount and
issue costs 351,979 - 351,979 373,678
Risk insurance premium deposit 12,890 - 12,890 11,174
Total other assets 364,869 - 364,869 384,852
Total assets $16,109,181 $477,665 $16,586,846 $16,141,882
Liabilities and Fund Equity
Liabilities:
Current liabilities (payable from
current assets) :
Accounts payable $ 134,157 $ 7,013 $ 141,170 $ 52,458
Due to other funds 21,160 3,044 24,204 28,385
Refundable deposit 1,500 - 1,500 -
Current maturities, long-term debt - 33,628 33,628 31,241
Total current liabilities 156,817 43,685 200,502 112,084
Current liabilities (payable from
restricted assets) :
Accrued revenue bond interest 221,530 - 221,530 223,879
Current portion of revenue bonds 170,000 - 170,000 160,000
Total current liabilities (payable
from restricted assets ) 391,530 - 391,530 383,879
Long-term liabilities:
Note payable to General Fund (net of
current portion) - 263,145 263,145 296,773
Revenue Bonds (net of current portion) 13,065,000 - 13,065,000 13,235,000
Total long-term liabilities 13,065,000 263,145 13,328,145 13,531,773
Total liabilities 13,613,347 306,830 13,920,177 14,027,736
Fund equity:
Contributed capital -
General Fund - 25,000 25,000 25,000
Retained Earnings:
Reserved for Revenue Bond indenture 867,585 - 867,585 668,230
Unreserved 1,628,249 145,835 1,774,084 1,420,916
Total retained earnings 2,495,834 145,835 2,641,669 2,089,146
Total fund equity 2,495,834 170,835 2,666,6E9 2,114,146
Total liabilities and fund equity $16,109,181 $477,665 $16,586,846 $16,141,882
See notes to the financial statements.
29
GULF COAST WASTE DISPOSAL AUTHORITY
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS
Year Ended December 31, 1980
Bayport
Area Equipment Totals
System Services 1980 1979
Operating revenues:
Charges for services $3,205,520 $406,491 $3,612,011 $3,630,678
Penalties and other revenues 3,869 - 3,869 9,835
Total operating revenues 3,209,389 406,491 3,615,880 3,640,513
Operating expenses:
Personnel costs 618,153 84,656 702,809 577,589
Materials and supplies 464,663 51,173 515,836 239,678
Electricity 480,347 - 480,347 373,497
Maintenance and repairs 229,739 71,105 300,844 181,898
Contractual services 55,001 - 55,001 41,512
1 Other operating expenses 432,675 26,943 459,618 392,768
Depreciation 395,280 61,056 456,336 437,237
Total operating expenses 2,675,858 294,933 2,970,791 2,244,179
Operating income 533,531 111,558 645,089 1,396,334
Non-operating revenues (expenses) :
Interest earned 785,679 5,646 791,325 609,191
Recovery of prior year's expense 52,500 - 52,500 -
Sale of fixed assets - 2,500 2,500 -
Amortization of bond discount and
issue cost (21,699) - (21,699) (20,136)
Bond interest expense (893,166) - (893,166) (790,117)
Interest on inter-fund debt - (24,026) (24,026) (26,244)
Total non-operating revenues
(expenses) (76,686) (15,880) (92,566) (227,306)
Net income 456,845 95,678 552,523 1,169,028
Retained earnings at beginning of year 2,038,989 50,157 2,089,146 920,118
Retained earnings at end of year $2,495,834 $145,835 $2,641,669 $2,089,146
See notes to the financial statements.
30
GULF COAST WASTE DISPOSAL AUTHORITY
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
Year Ended December 31, 1980
4
Bayport
Area Equipment Totals
System Services 1980 1979
SOURCES OF WORKING CAPITAL:
Operations:
Net income $ 456,845 $ 95,678 $ 552,523 $1,169,028
Add items not requiring working
capital:
Depreciation 395,280 61,056 456,336 437,237
Amortization of bond discount
and issue costs 21,699 - 21,699 20,136 1
Loss on disposal of equipment - - - 335
Working capital provided from
operations 873,824 156,734 1,030,558 1,626,736
Net increase in current liabilities
payable from restricted assets 7,651 - 7,651 - 1,
Increase in long-term debt - - - 6,731,216
Decrease in restricted assets: E
Construction Fund net assets 3,830,565 - 3,830,565 -
Total sources of working 1
capital 4,712,040 156,734 4,868,774 8,357,952
APPLICATIONS OF WORKING CAPITAL: 1
Investment in fixed assets 5,339,822 85,101 5,424,923 1,091,933 1
Decrease in long-term debt 170,000 33,628 203,628 31,241
Bond discount and issue costs - - - 169,962
Increase in restricted assets:
Contingency Fund 6,412 - 6,412 63,567
Construction Fund net assets - - - 4,407,368
Revenue Bonds Reserve Fund 200,594 - 200,594 398,521
Increase in risk insurance premium
deposit 1,716 - 1,716 11,174
Net increase in current liabilities
payable from restricted assets - - - 1,300,004
Total applications of working
capital 5,718,544 118,729 5,837,273 7,473,770
e
INCREASE/(DECREASE) IN WORKING CAPITAL $(1,006,504) $ 38,005 $ (958,499) $ 884,182
I
INCREASE/(DECREASE) IN WORKING
CAPITAL RESULTED FROM CHANGES IN:
Cash in bank $ (152,698) $(23,589) $ (176,287) $ 111,804
Time deposits (739,000) 75,000 (664,000) 511,000
U.S. government securities (189,892) - (189,892) 324,892
Accounts receivable 140,789 (15,149) 125,640 (115,219)
Due from other funds 106 5,388 5,494 -
Accrued interest receivable 17,975 361 18,336 11,316
Prepaid expense (2,820) 3,448 628 11,514
Accounts payable (85,551) (3,161) (88,712) (5,003)
Due to other funds 6,087 (1,906) 4,181 (13,904)
Current maturities of long-term debt - (2,387) (2,387) (2,218)
Provision for deposit to Construction
Fund - - - 50,000
Refundable deposit (1,500) - (1,500) -
INCREASE/(DECREASE) IN WORKING CAPITAL $(1,006,504) $ 38,005 $ (968,499) $ 884,182
See notes to the financial statements.
31
GULF COAST WASTE DISPOSAL AUTHORITY
BAYPORT AREA SYSTEM REVENUE FUND
COMPARATIVE BALANCE SHEETS
December 31, 1980 and 1979
1980 1979
Assets
Current assets:
Cash in banks $ 12,038 $ 164,736
Time deposits 1,000,000 1,739,000
U.S. government securities - at cost 135,000 324,892
Accounts receivable 493,165 352,376
Due from other funds 106 -
Accrued interest receivable 45,160 27,185
Prepaid expense 14,814 17,634
Total current assets 1,700,283 2,625,823
Restricted assets:
Construction Fund net assets 621,803 4,452,368
-. Revenue Bond Contingency Fund:
Cash, U.S. government securities and
accrued interest 200,000 193,588
Revenue Bond Reserve Fund:
Cash and accrued interest 1,059,115 858,521
Total restricted assets 1,880,918 5,504,477
Property, plant and equipment:
Land 907,489 907,489
Buildings and equipment 12,870,209 6,437,886
Construction in progress - 1,092,501
13,777,698 8,437,876
Less accumulated depreciation 1,614,587 1,219,307
Net property, plant and equipment 12,163,111 7,218,569
Other assets:
Unamortized bond discount and issue cost 351,979 373,678
Risk insurance premium deposit 12,890 11,174
Total other assets 364,869 384,852
Total assets $16,109,181 $15,733,721
Liabilities and Retained Earnings
Liabilities:
Current liabilities (payable from current assets) :
Accounts payable $ 134,157 $ 48,606
Due to other funds 21,160 27,247
Refundable deposit 1,500 -
Total current liabilities (payable from
current assets) 156,817 75,853
Current liabilities (payable from restricted assets) :
Accrued revenue bond interest 221,530 223,879
Current portion of revenue bonds 170,000 160,000
Total current liabilities (payable from
restricted assets) 391,530 383,879
Long-term liabilities:
Revenue bonds payable (net of current portion) :
6.2% - 6.9%, Series 1976 4,215,000 4,310,000
5.5% - 7%, Series 1979 8,850,000 8,925,000
Total long-term liabilities 13,065,000 13,235,000
Total liabilities 13,613,347 13,694,732
Retained earnings:
Reserved for revenue bohd indenture 867,585 668,230
Unreserved 1,628,249 1,370,759
Total retained earnings 2,495,834 2,038,989
Total liabilities and retained earnings $16,109,181 $15,733,721
See notes to the financial statements.
32
GULF COAST WASTE DISPOSAL AUTHORITY
BAYPORT AREA SYSTEM REVENUE FUND
COMPARATIVE STATEMENT OF REVENUES,
EXPENSES AND CHANGES IN RETAINED EARNINGS
Years Ended December 31, 1980 and 1979
1980 1979
Operating revenues:
Charges for services $3 ,205, 520 $3 ,359, 578
Penalties and other revenues 3 ,869 9,835
Total income 3 ,209 ,389 3 ,369 ,413
Operating expenses :
Personnel costs 618 ,153 506 ,126
Materials and supplies 464,663 209,062 .g
Electricity 480,347 373 ,497
Maintenance and repairs 229 ,739 144 ,626
Contractual services 55,001 40 ,319
Other operating expenses 432 ,675 370 ,291
Depreciation 395 ,280 392 ,653
Total operating expenses 2 ,675,858 2 ,036 ,574
Net operating income 533 ,531 1,332 ,839
Non-operating revenues (expenses) :
Interest earned 785 ,679 604 ,921
Recovery of prior year' s expense 52 ,500 -
Amortization of bond discount
and issue costs (21,699) (20 ,136)
Bond interest expense (893, 166) (790,117)
Total (76 ,686) (205,332)
Net income - pledged 456 ,845 1,127 ,507
Retained earnings at beginning of year 2,038 ,989 911,482
Retained earnings at end of year $2 ,495,834 $2 ,038,989
See notes to the financial statements .
33
GULF COAST WASTE DISPOSAL AUTHORITY
BAYPORT AREA SYSTEM REVENUE FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
Years Ended December 31, 1980 and 1979
1980 1979
SOURCES OF WORKING CAPITAL:
Operations:
Net income $ 456,845 $1,127,507
Add items included in operations
not requiring application of
working capital:
Depreciation 395,280 392,653
Amortization of bond discount
and issue costs 21,699 20,136
Working capital provided from
operations 873,824 1,540,296
Net increase in current liabilities
payable from restricted assets 7,651
Increase in long-term debt - 6,731,216
Decrease in restricted assets:
Construction Fund net assets 3,830,565 -
Total sources of working capital 4,712,040 8,271,512
APPLICATIONS OF WORKING CAPITAL:
Investment in fixed assets 5,339,822 1,021,212
Decrease in long-term debt 170,000 -
Bond discount and issue costs - 169,962
Increase in restricted assets:
Contingency Fund 6,412 63 ,567
Construction Fund net assets - 4,407 ,368
Revenue Bonds Reserve Fund 200,594 398,521
Increase in risk insurance premium
deposit 1,716 11,174
Net increase in current liabilities
payable from restricted assets - 1,300,004
Total applications of working
capital 5,718,544 7,371,808
INCREASE/(DECREASE) IN WORKING CAPITAL $ (1,006,504) $ 899,704
INCREASE/(DECREASE) IN WORKING CAPITAL
RESULTED FROM CHANGES IN:
Cash in bank $ (152,698) $ 94,495
Time deposits (739,000) 559,000
U.S. government securities (189,892) 324,892
Accounts receivable 140,789 (129,345)
Accrued interest 17,975 11,344
Prepaid expense (2,820) 14,937
Due from other funds 106 -
Accounts payable (85,551) (12,853)
Due to other funds 6,087 (12,766)
Deposit to Construction Fund - 50,000
Refundable deposit (1,500) -
INCREASE/(DECREASE) IN WORKING CAPITAL $ (1,006,504) $ 899,704
See notes to the financial statements.
34
GULF COAST WASTE DISPOSAL AUTHORITY
EQUIPMENT SERVICES FUND
COMPARATIVE BALANCE SHEETS
December 31, 1980 and 1979
1980 1979
Assets
Current assets :
Cash in bank $ 5,854 $ 29 ,443
Time deposits 75 ,000 -
Accounts receivable 16 ,929 32,078
Accrued interest 361 -
Prepaid expense 5,253 1,805
Due from other funds 5,388 -
Total current assets 108 ,785 63 ,326
Fixed assets (at cost) :
Mobile sludge dewatering unit 312 ,421 312 ,421
Other equipment 210 ,251 125,150
522 ,672 437 ,571
Less accumulated depreciation 153,792 92,736
Net fixed assets 368 ,880 344 ,835
Total assets $477 ,665 $408 ,161
Liabilities and Fund Equity
Current liabilities :
Accounts payable $ 7 ,013 $ 3 ,852
Current maturities , long-term debt 33 ,628 31,241
Due to other funds 3 ,044 1,138
Total current liabilities 43 ,685 36 ,231
Long-term debt, less current maturities -
General Fund 263 ,145 296 ,773
Total liabilities 306 ,830 333 ,004
Fund equity:
Contributed capital - General Fund 25,000 25,000
Retained earnings 145 ,835 50 ,157
Total fund equity 170 ,835 75,157
Total liabilities and fund equity $477 ,665 $408 ,161
See notes to the financial statements .
35
GULF COAST WASTE DISPOSAL AUTHORITY
EQUIPMENT SERVICES FUND
COMPARATIVE STATEMENT OF REVENUES,
EXPENSES AND CHANGES IN RETAINED EARNINGS
Years Ended December 31, 1980 and 1979
1980 1979
Operating revenues :
Charges for services $406 ,491 $271,100
Operating expenses :
Personnel costs 84 ,656 71,463
Materials and supplies 51,173 30 ,616
Maintenance and repairs 71,105 37 ,272
Contractual services - 1,193
Other operating expenses 26 ,943 22 ,477
Depreciation 61,056 44 ,584
Total operating expenses 294 ,933 207 ,605
Operating income 111,558 63 ,495
Non-operating revenues (expenses) :
Interest earned 5,646 4 ,270
Gain on sale of fixed assets 2 ,500 -
Interest expense on interfund debt (24 ,026) (26 ,244)
Total (15 ,880) (21,974)
Net income 95 ,678 41,521
Retained earnings at beginning of year 50 ,157 8 ,636
Retained earnings at end of year $145,835 $ 50 ,157
See notes to the financial statements.
36
GULF COAST WASTE DISPOSAL AUTHORITY
EQUIPMENT SERVICES FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
Years Ended December 31, 1980 and 1979
1980 1979
SOURCES OF WORKING CAPITAL:
Operations :
Net income $ 95, 678 $ 41,521
Add items included in operations
not requiring application of
working capital -
Depreciation 61,056 44 ,584
Loss on disposal of equipment - 335
Total sources of working capital 156 ,734 86 ,440
APPLICATIONS OF WORKING CAPITAL:
Investment in fixed assets 85 ,101 70 ,721
Decrease in long-term debt 33,628 31,241
Total applications of working capital 118 ,729 101,962
INCREASE/ (DECREASE) IN WORKING CAPITAL $ 38 ,005 $ (15,522)
INCREASE/ (DECREASE) IN WORKING CAPITAL
RESULTED FROM CHANGES IN:
Cash in bank $ (23 ,589) $ 17 ,309
Time deposits 75 ,000 (48 ,000)
Accounts receivable (15,149) 14 ,126
Accrued interest 361 (28)
Prepaid expense 3 ,448 (3 ,423)
Due from other funds 5,388 -
Accounts payable (3 ,161) 7 ,850
Current maturities , long-term debt (2 ,387) (2 ,218)
Due to other funds (1,906) (1,138)
INCREASE/ (DECREASE) IN WORKING CAPITAL $ 38 ,005 $ (15 ,522)
See notes to the financial statements.
37
GULF COAST WASTE DISPOSAL AUTHORITY
EMPLOYEES' PENSION PLAN
COMPARATIVE BALANCE SHEET
December 31, 1980 and 1979
1980 1979
Assets
Cash $ 5 ,597 $ 19 ,401
Time deposits 478 ,143 215 ,000
Investments , less unamortized
discount 410 ,156 304 ,952
Cash surrender value of life
insurance policies 118 ,215 123 ,598
Accrued interest receivable 41,597 7 ,266
Due from other funds - 34 ,987
Total assets $1,053 ,708 $705 ,204
Liabilities and Fund Balance
Liabilities :
Accounts payable $ 9 ,057 $ 3 ,555
Due to terminated employees 4 ,774 4 ,927
Due to other funds - 174
Total liabilities 13 ,831 8 ,656
Fund balance:
Reserved for employees ' retirement fund 1,039 ,877 696 ,548
Total liabilities and fund
balance $1,053 ,708 $705,204
See notes to the financial statements .
38
GULF COAST WASTE DISPOSAL AUTHORITY
EMPLOYEES' PENSION PLAN
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN FUND BALANCE
Years Ended December 31, 1980 and 1979
1980 1979
Operating revenues :
Employer' s contributions $ 283 ,614 $234 ,370
Interest 75 ,592 40 ,211
Net increase in cash surrender
value of life insurance policies 4,259 -
Total operating revenues 363 ,465 274 ,581
Operating expenses :
Refunds to terminated employees 2,125 24 ,183
Net insurance expense 1,264 34 ,322
Consulting and actuary fees 14,389 11,936
Administrative expenses 2 ,358 1,258
Total operating expenses 20 ,136 71,699
Net income 343 ,329 202 ,882
Fund balance at beginning of year 696 ,548 493 ,666
Fund balance at end of year $1,039 ,877 $696 ,548
See notes to the financial statements .
39
GULF COAST WASTE DISPOSAL AUTHORITY
EMPLOYEES ' PENSION PLAN
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
Years Ended December 31, 1980 and 1979
1980 1979
SOURCES OF WORKING CAPITAL:
Operations :
Net income $343 ,329 $202,882
Deduct income not providing
working capital:
• Discount amortization (174) (242)
(Increase) /decrease in cash
surrender value of life insurance 5 ,383 (18 ,544)
Working capital provided from
operations 348 ,538 184 ,096
Investment principal received 4 ,970 6 ,726
Total sources of working capital 353 ,508 190 ,822
APPLICATIONS OF WORKING CAPITAL:
Purchase of securities (110 ,000) -
INCREASE/(DECREASE) IN WORKING CAPITAL $243 ,508 $190 ,822
INCREASE/(DECREASE) IN WORKING CAPITAL
RESULTED FROM CHANGES IN:
Cash $ (13 ,804) $ (9 ,276)
Time deposits 263 ,143 165,000
Accrued interest receivable 34 ,331 6 ,529
Due from other funds (34 ,987) 34 ,987
Accounts payable (5 ,502) (3 ,555)
Due to terminated employees 153 (4 ,927)
Due to other funds 174 2 ,064
INCREASE/ (DECREASE) IN WORKING CAPITAL $243 ,508 $190,822
See notes to the financial statements .
40
GULF COAST WASTE DISPOSAL AUTHORITY
TEXAS CITY LANDFILL PERPETUAL MAINTENANCE FUND
COMPARATIVE BALANCE SHEET
December 31, 1980 and 1979
1980 1979
Assets
Cash $ 102 $98
Due from Texas City Landfill
Special Revenue Fund 3 ,222 -
Total assets $3 ,324 $98
Fund Balance
Reserve for perpetual maintenance $3 ,324 $98
GULF COAST WASTE DISPOSAL AUTHORITY
TEXAS CITY LANDFILL PERPETUAL MAINTENANCE FUND
COMPARATIVE STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN FUND BALANCE
Years Ended December 31, 1980 and 1979
1980 1979
Operating revenues :
Contribution from Texas City Landfill
Special Revenue Fund $3 ,222 $98
Interest 4 -
Total operating revenues 3 ,226 98
Net income 3 ,226 98
Fund balance at beginning of year 98
Fund balance at end of year $3,324 $98
See notes to the financial statements.
41
GULF COAST WASTE DISPOSAL AUTHORITY
TEXAS CITY LANDFILL PERPETUAL MAINTENANCE FUND
COMPARATIVE STATEMENT OF CHANGES IN FINANCIAL POSITION
Years Ended December 31, 1980 and 1979
1980 1979
SOURCES OF WORKING CAPITAL:
Operations :
Net income $3 ,226 $98
INCREASE IN WORKING CAPITAL $3 ,226 $98
INCREASE IN WORKING CAPITAL RESULTED
FROM CHANGES IN:
Cash $ 4 $98
Due from Texas City Landfill
Special Revenue Fund 3 ,222 -
INCREASE IN WORKING CAPITAL $3 ,226 $98
See notes to the financial statements .
42
GULF COAST WASTE DISPOSAL AUTHORITY
SCHEDULE OF GENERAL FIXED ASSETS
BY FUNCTIONS AND ACTIVITIES
December 31, 1980
Furniture
Waste Fixtures
Office Treatment and Work in
Total Building Plants Equipment Computer Progress
Administration $ 1,039,156 $657,476 $ - $202,519 $179,161 $ -
Industrial operations:
Washburn Tunnel Plant 26,298,627 - 26,289,375 9,252 - -
American Plant 8,689,051 - 8,689,051 - - -
Forty Acres Plant 10,408,550 - 10,407,062 1,488 - -
Texas City Landfill 2,412,332 - 2,412,332 - - -
Forty Acres Landfarm 2,065,761 - - - - 2,065,761
49,874,321 - 47,797,820 10,740 - 2,065,761
Waste treatment plants not
operated by the Authority:
Houston Lighting & Power
Co. Plant 17,610,000 - 17,610,000 - - -
Tenneco Plant 1,715,096 - 1,715,096 - - -
Rohm & Haas Plant 20,141,300 - 20,141,300 - - -
39,466,396 - 39,466,396 - - -
Total industrial plants 89,340,717 - 87,264,216 10,740 - 2,065,761
Municipal operations:
General 49,053 - 47,444 1,609 - -
Municipal plants:
Kleinwood Central Plant-Phase I 787,199 - 787,199 - - -
Kleinwood Central Plant-Phase II 2,288,782 - 2,288,782 - - -
Treschwig Central Plant-Phase I 1,197,545 - 1,197,545 - - -
Treschwig Central Plant-Phase II 622,773 - 622,773 - - -
Northbelt Central Plant 423,356 - 423,356 - - -
Blackhawk Central Plant 1,890,256 - 49,875 - - 1,840,381
White Oak Bayou Plant-Phase I 616,409 - 616,409 - - -
White Oak Bayou Plant-Phase II 1,580,797 - - - - 1,580,797
City of Galveston Project 1,289,840 - 1,289,840 - - -
Beltway Central Plant-Phase I 1,802,852 - 1,802,852 - - -
Beltway Central Plant-Phase II 4,081,184 - 4,081,184 - - -
Beltway Central Plant-Phase III 439,048 - - - - 439,048
Alief Central Plant 1,566,424 - 1,566,424 - - -
Metro Central Plant 182,758 - - - - 182,758
Spring/Cypress Road Plant 975 - - - - 975
Total municipal plants 18,770,198 - 14,726,239 - - 4,043,959
Total municipal operations 18,819,251 - 14,773,633 1,609 - 4,043,959
Total assets $109,199,124 $657,476 $102,037,899 $214,868 $179,161 $6,109,720
See notes to the financial statements.
43
GULF COAST WASTE DISPOSAL AUTHORITY
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTIONS
Year Ended December 31, 1980
Balance Balance
12/31/79 Additions Deductions 12/31/80
Administration $ 964,497 $ 74,659 $ - $ 1,039,156
Municipal operations - general 47,444 1,609 - 49,053
Completed industrial projects:
Washburn Tunnel Plant 26,028,793 269,834 - 26,298,627
Tenneco Plant 1,715,096 - - 1,715,096
American Plant 8,546,061 142,990 - 8,689,051
Houston Lighting & Power Plant 17,610,000 - - 17,610,000
Forty Acres Plant 10,373,675 34,875 - 10,408,550
Rohm & Haas Plant 20,141,300 - - 20,141,300
Texas City Landfill - 2,412,332 - 2,412,332
84,414,925 2,860,031 - 87,274,956
Completed municipal projects:
Kleinwood Central Plant-Phase I 787,199 - - 787,199
Treschwig Central Plant-Phase I 1,197,545 - - 1,197,545
Blackhawk Central Plant 49,875 - - 49,875
City of Galveston Project 1,289,840 - - 1,289,840
Northbelt Central Plant 423,356 - - 423,356
White Oak Bayou Plant-Phase I 616,409 - - 616,409
Beltway Central Plant-Phase I 1,802,852 - - 1,802,852
Treschwig Central Plant-Phase II - 622,773 - 622,773
Alief Central Plant-Phase II - 1,566,424 - 1,566,424
Beltway Central Plant-Phase II - 4,081,184 - 4,081,184
Kleinwood Central Plant-Phase II - 2,288,782 - 2,288,782
6,167,076 8,559,163 - 14,726,239
Work in progress:
Industrial projects -
Texas City Landfill 1,862,122 513,626 2,375,748 -
Forty Acres Landfarm 837,061 1,228,700 - 2,065,761
Total industrial projects 2,699,183 1,742,326 2,375,748 2,065,761
Municipal projects -
Treschwig Central Plant-Phase II 631,258 (8,485) 622,773 -
Alief Central Plant 1,519,259 47,165 1,566,424 -
Beltway Central Plant-Phase II 3,932,440 148,744 4,081,184 -
Blackhawk Central Plant 1,172,185 668,196 - 1,840,381
White Oak Bayou Plant-Phase II 140,936 1,439,861 - 1,580,797
Metro Central Plant 182,758 - - 182,758
Kleinwood Central Plant-Phase II 2,184,270 104,512 2,288,782 -
Spring/Cypress Road Plant 975 - - 975
Beltway Central Plant-Phase III - 439,048 - 439,048
Total municipal projects 9,764,081 2,839,041 8,559,163 4,043,959
Total assets $104,057,206 $16,076,829 $10,934,911 $109,199,124
See notes to the financial statements.
44
GULF COAST WASTE DISPOSAL AUTHORITY
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS -
BY SOURCE
Year Ended December 31, 1980
Furniture,
Waste Fixtures
Office Treatment and Work in
Total Building Facilities Equipment Computer Progress
Balance at beginning of year $104,057,206 $614,224 $ 90,618,705 $198,928 $162,085 $12,463,264
Add expenditures from -
General fund 74,659 43,252 - 14,331 17,076 - 1
Special revenue funds:
Municipal operations 1,609 - - 1,609 - -
Washburn Tunnel Plant 246,714 - 246,714 - - -
Forty Acres Plant 34,875 - 34,875 - - -
American Plant 142,990 - 142,990 - - -
Texas City Landfill 36,584 - 36,584 - - -
Capital project funds:
Industrial projects 1,765,446 - 23,120 - - 1,742,326
Municipal projects 2,839,041 - - - - 2,839,041
Work in progress
completed 10,934,911 - 10,934,911 - - -
Total additions 16,076,829 43,252 11,419,194 15,940 17,076 4,581,367
Total 120,134,035 657,476 102,037,899 214,868 179,161 17,044,631
Deduct -
Work in progress trans-
ferred to completed
projects 10,934,911 - - - - 10,934,911
Balance at end of year $109,199,124 $657,476 $102,037,899 $214,868 $179,161 $ 6,109,720
See notes to the financial statements.
45
96
Ic.fq.uaWaIddng
1
i
i
GULF COAST WASTE DISPOSAL AUTHORITY
POLLUTION CONTROL REVENUE BONDS ISSUED AND OUTSTANDING
INDUSTRIAL PROJECTS
December 31, 1980
Final Interest
Series Dated Maturity Rate
Forty Acres Treatment Plant - !
Union Carbide Coropration Project 1971 12/1/71 1996 3.25%-5.625%
Washburn Tunnel Treatment Plant -
Air Products and Chemicals Co., Inc.
Project 1972 10/1/72 1987 5.5%
Champion International Corporation,
Atlantic Richfield Company Project 1973 5/1/73 1998 5%-5.8%
General American Transportation
Corporation Projects 1974A 12/1/74 1996 8%
1974B 12/1/74 1996 8%
Total - Washburn Tunnel Treatment Plant
Olin Corporation Project 1974 2/1/74 1998 6%-6.125%
Tenneco Treatment Plant -
Tenneco Chemicals, Inc. Project 1974 8/1/74 1994 7.5%-8%
Houston Lighting & Power Treatment
Plant - Houston Lighting & Power
Company Project 1974 8/1/74 2004 7.375%
Champion International Corporation Project 1974B 11/1/74 1999 6.25%-8.l%
Diamond Shamrock Corporation Projects 1975A 4/1/75 2000 7.375%
1975B 4/1/75 2000 7.375%
1975C 4/1/75 2000 7.375%
Crown Central Petroleum Corporation Project Varying-not
1975 4/30/75 1983 to exceed 10%
Charter International Oil Corporation Projects 1975A 7/1/75 1995 7.5%-9.5%
1975B 10/1/75 1995 8%-9.5%
Armco Steel Corporation Projects 1975 8/15/75 2005 6.5%-8.125%
1975 8/15/75 2005 8.125%
Amoco Oil Company Projects 1975A 11/1/75 2005 7%
1975C 11/1/75 2005 7%
American Treatment Plant -
Amoco Oil Company Project 1975B 11/1/75 2005 7%
Atlantic Richfield Company Project 1976 2/1/76 2006 6.5% `
Quaker Oats Company Project 1976 5/1/76 2006 5.5%-6.5%
Shell Oil Company Project 1976 8/1/76 2006 6.2%
United States Steel Corporation Project 1976 4/15/76 2001 6.2%
Exxon Corporation Project 1976 12/1/76 2006 5.8%
Monsanto Company Project 1976 12/1/76 2006 5.8%
Diamond Shamrock Corporation Project 1977A 2/1/77 2007 6%
Rohm & Haas Texas Incorporated Project 1977 3/1/77 2002 6.25%
Charter International Oil Company Project 1977 6/1/77 1992 7.5%
Pennwalt Corporation Project 1977 9/1/77 2007 5.9%
Shell Oil Company Projects 1977 11/1/77 2007 5.5%
1977 11/1/77 2007 5.5%
Monsanto Company Project 1977 12/1/77 2007 5.75%
United States Steel Corporation Project 1978 4/1/78 1988 5.2%
Tenneco Chemicals, Inc. Project 1978 6/1/78 1997 6%
Houston Lighting & Power Company Project 1978 6/1/78 1998 4.78%-9.5%
Olin Corporation Project 1978 8/1/78 2008 6.9%
Diamond Shamrock Corporation Project 1979 6/1/79 2009 6.75%
Union Carbide Corporation Projects 1979 6/1/79 2009 6.375%
1979 6/1/79 2009 6.375%
Quaker Oats Company Project 1979 8/1/79 2009 6.625%
FMC Corporation Project 1979 10/1/79 2009 7.05%
Exxon Corporation Project 1979 10/1/79 2009 6€
Amoco Oil Company - Amoco Chemicals
Corporation Project 1979 11/1/79 2009 6.7%
American Hoechst Corporation Project 1979 11/1/79 2004 7.75%
Houston Lighting & Power Company Project Varying-not
1980T 3/1/80 1998 to exceed 9.9%
ICI Americas, Inc. Projects 1980 6/1/80 2005 8.375%
1980 6/1/80 2005 8.375%
Monsanto Company Project 1980 10/1/80 2000 9
Total - (memorandum only)
47
Amount Authorized and Issued
Water Pollution Control
Facilities Facilities Air Solid
Owned By Conveyed Pollution Environmental Waste Amount Amount
the Authority to Industry Control Improvement Disposal Total Retired Outstanding
$10,500,000 $ - $ - $ - $ - $ 10,500,000 $2,300,000 $ 8,200,000
, 750,000 - - - - 750,000 330,000 420,000
25,000,000 - - - - 25,000,000 - 25,000,000
1,350,000 - - - - 1,350,000 - 1,350,000
1,000,000 - - - - 1,000,000 - 1,000,000
28,100,000 - - - - 28,100,000 330,000 27,770,000
- - 820,000 - - 820,000 - 820f
1,800,000 - - - - 1,800,000 - 1,800,000
18,000,000 - - - - 18,000,000 - 18,000,000
- - 6,400,000 - - 6,400,000 - 6,400,000
- - - 1,000,000 - 1,000,000 - 1,000,000
- - - 1,000,000 - 1,000,000 - 1,000,000
- - 920,000 - - 920,000 - 920,000
- - 2,300,000 - - 2,300,000 1,512,000 788,000
- - 5,000,000 - - 5,000,000 - 5,000,000
- 1,694,000 1,331,000 - - 3,025,000 - 3,025,000
- - 21,000,000 - - 21,000,000 - 21,000,000
- - - 1,000,000 - 1,000,000 - 1,000,000
- - 14,575,000 - - 14,575,000 - 14,575,000
- - - 1,000,000 - 1,000,000 - 1,000,000
8,765,000 - - - - 8,765,000 - 8,765,000
- 13,427,147 13,672,853 - - 27,100,000 - 27,100,000
- - - - 15,000,000 15,000,000 - 15,000,000
- 60,000,000 - - - 60,000,000 - 60,000,000
- - 17,500,000 - - 17,500,000 - 17,500,000
- 36,089,000 18,811,000 - - 54,900,000 - 54,900,000
- 4,375,000 - - - 4,375,000 - 4,375,000
- 12,210,000 11,090,000 - - 23,300,000 - 23,300,000
20,600,535 3,499,465 - - - 24,100,000 - 24,100,000
- - 7,000,000 - - 7,000,000 - 7,000,000
- 3,225,000 - - - 3,225,000 - 3,225,000
- 12,290,000 23,160,000 - - 35,450,000 - 35,450,000
- - - 1,000,000 - 1,000,000 - 1,000,000
- 3,550,000 - - - 3,550,000 - 3,550,000
- - 950,000 - - 950,000 - 950,000
- 6,500,000 - - - 6,500,000 305,000 6,195,000
- 19,200,000 - - - 19,200,000 - 19,200,000
- 10,281,000 1,219,000 - - 11,500,000 - 11,500,000
- 4,825,000 1,850,000 - 2,075,000 8,750,000 - 8,750,000
- - 2,630,000 - - 2,630,000 - 2,630,000
- - - 950,000 - 950,000 - 950,000
- - - - 2,050,000 2,050,000 - 2,050,000
- 2,132,000 468,000 - - 2,600,000 - 2,600,000
- - 5,225,000 - - 5,225,000 - 5,225,000
5,850,000 - - - - 5,850,000 - 5,850,000
- 10,615,755 4,784,245 - - 15,400,000 - 15,400,000
- 5,000,000 - - - 5,000,000 - 5,000,000
- 9,522,800 877,200 - - 10,400,000 - 10,400,000
- - - 1,000,000 - 1,000,000 - 1,000,000
- - 2,000,000 - - 2,000,000 - 2,000,000
$93,615,535 $218,436,167 $163,583,298 $6,950,000 $19,125,000 $501,710,000 $4,447,000 $497,263,000
See notes to the financial statements.
48
GULF COAST WASTE DISPOSAL AUTHORITY
POLLUTION CONTROL REVENUE BONDS ISSUED AND OUTSTANDING
MUNICIPAL PROJECTS
December 31, 1980
Final Interest
Series Dated Maturity Rate
City of Houston Sewer System
Contract Revenue Bonds 1971A 9/1/71 1986 4. 2%-5%
1973 3/1/73 1989 4.75%
1974 1/1/74 1988 4.15%-4 .75% 1
City of Galveston Sewer System
Contract Revenue Bonds 1972 5/1/72 1987 4 .7%-5. 3%
1974 3/1/74 1990 4 .65%-6 .5%
1974A 9/1/74 1990 7. 5%-7 . 1%
1976 6/1/76 1990 5. 2%-6 . 5%
City of Columbus Waste Disposal
Contract Revenue Bonds 1973 3/1/73 1982 4. 5%
City of League City Sewer System
Contract Revenue Bonds 1972 6/1/72 1982 4. 58%
City of LaMarque Waste Disposal
Contract Revenue Bonds 1973 9/1/73 1993 6%-5 . 5%
1976 6/1/76 1991 6%
Cedar Bayou Park Utility District
Sewer System Contract Revenue
Bonds 1978 11/1/78 2008 7 . 5%
Totals - (memorandum only)
49
Amount
Authorized Amount Amount
and Issued Retired Outstanding
$ 3 ,600 ,000 $2 ,160 ,000 $1,440 ,000
1,000 ,000 455,000 545 ,000
4 ,000 ,000 3 ,200 ,000 800 ,000
1,420 ,000 720 ,000 700 ,000
1,500 ,000 205,000 1,295 ,000
430 ,000 90 ,000 340 ,000
1,325,000 75,000 1,250 ,000
95 ,000 55 ,000 40 ,000
195 ,000 155 ,000 40 ,000
475,000 115,000 360 ,000
315 ,000 55 ,000 260 ,000
320 ,000 - 320 ,000
$14 ,675,000 $7 ,285,000 $7 ,390 ,000
See notes to the financial statements .
50