Comprehensive Annual Financial ReportCITY SECRETARY
OFFICIAL FILE COPY
Comprehensive
Annual
Financial
Report
For Fiscal Year Ended
September 30, 1999
CITY OF ALLEN
City of Allen
Allen, Texas
AM
CITY OF ALLEN
TO: PETER H. VARGAS, ITY MANAGER
FROM: LINDA VAUGH , INANCE DIRECTOR
SUBJECT: RESPONSE TO KPMG MANAGEMENT LETTER
DATE: FEBRUARY 29, 2000
The management letter we have been given by our auditors, KPMG, addressed two areas
and the following is my response to the points they made.
Bank Reconciliations: We are currently working to try to balance the City's main
operating bank account. For the past few months, the cash balance shown on our books
has exceeded the balance shown by the bank. However, other reconciliations we do with
our property taxes, investments, and utility billing show all receipts in our books are
accurate. We have one staff member who is spending approximately 50% of her time
working with our cash issue so it can be resolved as quickly as possible.
Changes in the Government Reporting Model: We are aware that there are several major
changes in the government reporting model that have been approved by the Government
Accounting Standards Board (GASB). Based on our level of revenues, we will be
required to implement this for our fiscal year 2002-2003. However, we should not wait
until then to begin preparing our financial records for this transition. There are several
new requirements that me a part of this reporting model which have been noted by
KPMG. Effects of this will be seen in future budget dollars needed for necessary staff to
handle the new requirements and possibly additional assistance needed from our external
auditors.
If you have further questions regarding the auditors' letter please let me know.
ONEBUTLERCIRCLE ALLEN, TEXAS 75013
972r727-0100 • FAX 972/727-0165
EMAIL: coa@ci.aIIen.tx.us
KPMG
200 Cau m Court
SUM 300
Dallas, TX 75201-1885
December 22, 1999
Honorable Mayor, City Council and City Manager
City of Allen, Texas
Allen, Texas
Ladies and Gentlemen:
We have audited the financial statements of the City of Allen (the City) for the year ended September 30,
1999, and have issued our report thereon dated December 22, 1999. In planning and performing our audit
of the financial statements of the City, we considered internal control in order to detemnine our auditing
procedures for the purpose of expressing our opinion on the financial statements. An audit does not include
examining the effectiveness of internal control and does not provide assurance on internal control. We
have not considered internal control since the date of our report. Furthermore, our audit was not designed
to, and does not, provide any assurance that a Year 2000 issue which may exist will be identified, on the
adequacy of the City's remediation plans related to Year 2000 financial or operational issues, or on whether
the City is or will become Year 2000 compliant on a timely basis. Year 2000 compliance is the
responsibility of management.
During our audit, we noted certain matters involving internal control and other operational matters that are
presented for your consideration. These comments and recommendations, all of which have been discussed
with the appropriate members of management, are intended to improve internal control or result in other
operating efficiencies and are summarized as follows:
BANK RECONCILIATIONS
While conducting testwork relating to cash accounts, it was noted that some bank reconciliations did not
reconcile. The general operating account in particular carried unresolved reconciling items for more than a
one-month period. We recommend the City adopt a practice of reconciling all bank accounts on a monthly
basis, and that efforts be taken to strengthen the review process. This adherence to the process of
reconciliations will help the City maintain better control to monitor its cash activity.
Honorable Mayor, City Council and City Manager
City of Allen, Texas
December 22, 1999
Page 2
CHANGES IN THE GOVERNMENT REPORTING MODEL
After years of study and consideration of the needs of users of government financial statements, the
Governmental Accounting Standards Board (GASB) issued its revolutionary new reporting model in lune
1999. The new model dramatically changes the presentation of governments' external financial statements.
In the GASB's view, the objective of the new model is to enhance the clarity and usefulness of government
financial statements to the citizenry, oversight bodies, investors and creditors. It will substantially affect
the City's financial data accumulation and financial statement presentation processes. Some of the key
aspects of the changes follow:
Management's Discussion and Analysis (MD&A) — A comprehensive MD&A will now be
included as required supplementary information. The MD&A will introduce the financial
statements by presenting an analysis of the government's financial performance for the year
and its financial position at year-end. The MD&A will be in addition to the transmittal letter
currently required for Government Finance Officers Association (GFOA) award candidates,
such as your City, but we expect that the GFOA will make changes in its requirements so as to
avoid any duplication between the two documents.
Government -wide Reporting — The City will be required to report financial operations and net
assets, not only at the fund perspective for governmental activities, but will also have to prepare
statements at the government -wide level. This level will distinguish between government and
business type activities. All information at the government -wide level will be reported using
the economic resources measurement focus and accrual basis of accounting, as enterprise funds
do under the current model. Fiduciary activities will be excluded from the government -wide
level of reporting. General government fixed assets, including infrastructure, and long-term
liabilities of the government will need to be reported with all other governmental assets and
liabilities.
Statement of Activities — Governments will now be required to use a "net program cost"
format fm the govemment-wide statements instead of a traditional operating statement. This
new format groups revenues and expenses by functional categories (such as public safety,
public works, etc.). The purpose of the new statement is to inform readers about the cost of
specific functions and the extent to which they are financed with program revenues or general
revenues of the government. Governments will have the option of reporting both direct and
indirect program costs. Depreciation expense will now generally be reflected as a cost in the
statement of activities.
Infrastructure Reporting — Historically, the City has not been required to record
infrastructure assets in its financial statements. Under the new standard, the City most report
infrastructure assets acquired within the last twenty-five years at historical cost. The standard
provides several alternatives for determining historical cost of infrastructure assets. Although
the standard generally requires depreciation of infnstmcture assets, the City may not be
required to depreciate these assets if it can demonstrate that it is preserving its infrastructure at
approximately (or above) a disclosed condition level established by the City.
Ir
Honorable Mayor, City Council and City Manager
City of Allen, Texas
December 22, 1999
Page 3
Fund Level Repotting — Fund level financial statements will still be required and will provide
information about the City's fund types, including fiduciary funds and blended component
units. General capital assets and general long-term liabilities will only be reported at the
government -wide level. Fund level reporting will continue to focus on fiscal accountability and
reflect the flows and balances of current financial resources. The modified accrual basis of
accounting will continue to be used at the fund level, except for proprietary and fiduciary funds
which would continue reporting based on economic resources and the accrual method of
accounting. A reconciliation between the fund and the government -wide statements will be
required on the face of the fund statements. Finally, proprietary fund cash flow statements
must be presented using the direct method.
presentation of Budgetary Information — The standard requires budgetary statements for the
general fund and certain other governmental funds as required supplementary information. The
original adopted budget of the City as well as the final revised budget must be presented.
Actual results on a budgetary basis will need to be reconciled to the GAAP (generally accepted
accounting principles) basis on the face of the statements.
The effective date of the new pronouncement will inquire implementation by the City for its year ending
September 30, 2003. The magnitude of these changes and the time required to prepare for implementation
should not be underestimated. We recommend that the City begin to look at its systems and processes to
ensure that the required information will be available to ensure timely implementation. Further, we
recommend that the City consider the cost of required changes to its systems and processes to ensure
availability of necessary funds in its upcoming budget.
Our audit procedures are designed primarily to enable as to form an opinion on the financial statements
and, therefore, may not bring to light all weaknesses in policies or procedures that may exist. We ainy
however, to use our knowledge of the City's organization gained during our work to make comments and
suggestions that we hope will be useful to you.
We would be pleased to discuss these comments and recommendations with you at any time.
This report is intended solely for the information and use of the city council, audit committee and
management and is not intended to be and should not be used by anyone other than these specified parties.
Very truly yours,
K,pwtG LLP
1 CITY SECRETARY
1 OFFICIAL FILE COPY
1
1
1 CITY OF ALLEN, TEXAS
1 COMPREHENSIVE ANNUAL FINANCIAL REPORT
FISCAL YEAR ENDED
SEPTEMBER 30, 1999
J
1
AS PREPARED BY THE
1 FINANCE DEPARTMENT
1
CITY OF ALLEN, TEXAS
Comprehensive Annual Financial Report
Year ended September 30, 1999
Table of Contents
Exhibit Page
Introductory Section
Letter of Transmittal
i
Government Finance Officers Association
Certificate of Achievement
A
Organization Chart
xii
City Officials
xiii
Financial Section
Independent Auditors' Report
I
Combined Financial Statements Overview
(General Purpose Financial Statements):
Combined Balance Sheet - All Fund Types, Account
Groups and Discretely Presented Component Units
A-1
4
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances -All Governmental Fund
Types, Expendable Trust Funds, and Discretely
Presented Component Units
A-2
8
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget (GAAP Basis)
and Actual - Gengral and Debt Service Funds
A-3
10
Combined Statement of Revenues, Expenses and
Changes in Fund Equity - All Proprietary Fund
Types and Similar Trust Fund
A-4
12
Combined Statement of Cash Flows - All Proprietary
Fund Types and Similar Trust Fund
A-5
14
Notes to General Purpose Financial Statements
16
CITY OF ALLEN, TEXAS
Comprehensive Annual Financial Report
Year ended September 30, 1999
Table of Contents
Exhibit
Page
Required Supplementary Information
Texas Municipal Retirement System - Analysis
of Funding Progress
37
Year 2000 Issues
38
Combining, Individual Fund and Account Group
Financial Statements and Schedules:
Governmental Fund Types:
General Fund:
41
Comparative Balance Sheets
B-1
42
Statement of Revenues, Expenditures and
Changes in Fund Balances -
Budget and Actual
B-2
43
Special Revenue Funds:
45
Combining Balance Sheet
C-1
46
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
C-2
48
Debt Service Fund:
51
Comparative Balance Sheet
D-1
52
Comparative Statements of Revenues, Expenditures
and Changes in Fund Balances
D-2
53
Statement of Comparative Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
D-3
54
CITY OF ALLEN, TEXAS
Comprehensive Annual Financial Report
Year ended September 30, 1999
Table of Contents
Exhibit
Page
Capital Project Funds:
55
Combining Balance Sheets
E-1
56
Combining Statement of Revenues, Expenditures
and Changes in Fund Balance
E-2
58
Proprietary Fund Types:
Enterprise Funds:
61
Combining Balance Sheet
F-1
62
Combining Statement of Revenues, Retained
Earnings and Changes in Fund Equity
F-2
64
Combining Statement of Cash Flows
F-3
66
Water and Sewer Fund:
Comparative Balance Sheets
F-4
68
Comparative Statements of Revenues, Expenses
and Changes in Retained Earnings
F-5
69
Comparative Statements of Cash Flows
F-6
70
Solid Waste Fund:
Comparative Balance Sheets
F-7
71
Comparative Statements of Revenues, Expenses
and Changes in Retained Earnings
F-8
72
Comparative Statements of Cash Flows
F-9
73
CITY OF ALLEN, TEXAS
Comprehensive Annual Financial Report
Year ended September 30, 1999
Table of Contents
Development Fees Fund
Exhibit Page
Comparative Balance Sheets
F-10
74
Comparative Statements of Revenues, Expenses
and Changes in Retained Earnings
F-11
75
Comparative Statements of Cash Flows
F-12
76
Drainage Enterprise Fond:
Comparative Balance Sheets
F-13
77
Comparative Statements of Revenues, Expenses
and Changes in Retained Earnings
F-14
78
Comparative Statements of Cash Flows
F-15
79
Parks and Recreation Enterprise Fund:
Comparative Balance Sheets
F-16
80
Comparative Statements of Revenues, Expenses
and Changes in Retained Earnings
F-17
81
Comparative Statements of Cash Flows
F-18
82
Internal Service Fund:
83
Comparative Balance Sheets
G-1
84
Comparative Statements of Revenues, Retained
Eamings and Changes in Fund Equity
G-2
85
Comparative Statements of Cash Flows
G-3
86
CITY OF ALLEN, TEXAS
Comprehensive Annual Financial Report
Year ended September 30, 1999
Table of Contents
Exhibit
Page
Fiduciary Fund Types:
87
Combining Balance Sheet
H-1
88
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances - Expendable
Trust Funds
H-2
90
Comparative Balance Sheets - Nonexpendable
Trust Fund
H-3
92
Statement of Revenues, Expenses and Changes in
Fund Balance - Nonexpendable Trust Fund
H-4
93
Statement of Cash Flows - Nonexpendable
Trust Fund
H-5
94
General Fixed Assets Account Group
95
Comparative Schedule of General Fixed Assets -
1-1
96
By Source
Discretely Presented Component Units:
97
AEDC - Combining Balance Sheet
J-1
98
AEDC - Comparative Statement of Revenues, Expenditures
and Changes in Fund Balances
J-2
100
CDC - Combining Balance Sheet
J-3
102
CDC - Comparative Statement of Revenues, Expenditures
and Changes in Fund Balances
J-4
104
CITY OF ALLEN, TEXAS
Comprehensive Annual Financial Report
Year ended September 30, 1999
Table of Contents
Statistical Section (Unaudited)
Table
Page
General Governmental Expenditures by Function
1
106
General Governmental Revenues by Source
2
108
Property Tax Levies and Collections
3
110
Assessed and Estimated Actual Value of
Taxable Property
4
112
Property Tax Rates and Tax Levies - All Direct
and Overlapping Governments
5
113
Ratio of Net General Bonded Debt to Assessed
Value and Net Bonded Debt Per Capita
6
114
Computation of Legal Debt Margin
7
116
Computation of Direct and Estimated Overlapping
Bonded Debt Payable
8
117
Ratio of Annual Debt Service Expenditures To
General Governmental Expenditures
9
118
Construction Activity and Property Value
10
119
Principal Taxpayers
11
120
Miscellaneous Statistical Data
12
121
Demographic Statistics
13
122
government and to differentiate their financial position, results of operations and cash
flows from those of the primary government. The Allen Economic Development
Corporation (AFDC) and the Community Development Corporation (CDC) are discretely
presented component units in the combined financial statements because they are legally
separate from the City.
ECONOMIC CONDITION AND OUTLOOK
The City of Allen is located in Collin County, which is in north central Texas. It is
approximately 20 miles north of Interstate 635 on U.S. 75. Allen is completely surround-
ed by incorporated cities. To the north lies the City of McKinney; to the south, the City
of Plano; to the east, the Town of Lucas; and, to the west, the City of Plano.
Allen was settled in the early 1850's from land grants given by the Republic of Texas as
an inducement for settlers to come to the frontier. The railroad and telegraph came to
Allen in 1872 and in future years made substantial contributions to the economy of the
City. The town was officially incorporated in 1953 with a Council/Manager form of
government. Similar in importance to the construction of the railroad almost a century
before was the completion of U.S. 75 through Allen in 1960. Citizens could work at
nearby companies because of the access and convenience of the highway. The relocation
of high technology companies to the North Dallas and Richardson areas in the 1960's
drastically increased employment opportunities for Allen's citizens, and the population
rose to 1,940. It continued to increase to 8,324 in 1980, 19,198 in 1990, 43,686 in 1999,
and is estimated to surpass 85,000 by the year 2010.
Allen is 25 miles north of downtown Dallas, on U.S. Highway 75. It is in the midst of
the growth emanating from Dallas and its northern suburbs. The City has established a
reputation in the Dallas/Fort Worth Metroplex and in the state of Texas for being at the
forefront of development and is promoting commercial and residential growth in ways
that will aid in having a balanced community. Important transportation routes serving the
city include U.S. 75, which bisects the city in a north/south direction in the center of the
city and provides an important link to adjacent cities. F.M. 2170 runs in an east/west
direction in the center of the city. S.H. 5, which formerly was the main north/south thor-
oughfare, lies roughly parallel to U.S. 75.
As development expanded outward from Dallas and growth spread northward, the City
Council created the Allen Economic Development Corporation (AFDC) to receive and
disperse the one-half cent sales tax approved by voters in 1992 for economic
development. Since the inception of the AFDC, Allen has made its mark in the
development community. The AEDC has recruited over 2.7 million square feet of new
manufacturing and office space with an increase of 3,957 new manufacturing/office jobs
and capital investment over $364 million. Major retail ventures including the Allen
Premium Outlets, Allen Central Market and Twin Creeks Village add another 1.3 million
square feet of shopping space and $132.2 million in capital investment onto the local tax
rolls. The community has greatly benefitted from a number of other service and retail
establishments and restaurants moving into the area
I
' Millennium Technology Park, Enterprise Business Park, and Millennium Corporate
Center have become major draws for technology companies. Allen is now home to world
' recognized companies including AT&T, Ball Semiconductor, Dey Laboratories, Digital
Techniques, Experian, FSI International, ICBS, Micrografx, Millipore, Okmetic, Peerless
Group, Photronics, Quest Medical/Atrion, RCL/Lyrick Corporation, Sage Telecom,
' Saraide, and Sunbelt Telecommunication.
Current AEDC projects include the development of Millennium Corporate Center, a 55 -
acre corporate center reserved for mid -rise, upscale corporate offices; completion of
Presbyterian Medical Center and office complex; and completion of a five -story Hilton
Hotel -
A growing residential base of corporate executives, engineers and skilled employees is
proving that prime office and high -finish space can be sustained in the northern corridor
' of Dallas. Allen, alone, sports an average household income of $71,000 with most
residents having a college education.
' A GROWING ECONOMY
' ASSESSED PROPERTY VALUATIONS
(le lA9i bel
1993 1994 1995 1996 1997 1998
For the past four consecutive years, Allen has been selected by "Outlook Magazine" as
one of the top 10 Texas Star Cities based on its pro-business climate and its ability to
promote growth, while making the community a good place to live.
MAJOR INITIATIVES
' Current Year Projects. The City of Allen 1998-99 Budget for operations and debt
service was a 24.2% increase from the 1997-98 Budget. This Budget reflects growth for
inflationary cost increases, as well as increases for service level enhancements,
infrastructure maintenance, and purchases of capital equipment. The budget increase was
funded by increases in revenues resulting from the growing economy of the City. At the
' same time the City Council has continued lowering the property tax rate for the sixth
iii
consecutive year from a level of $.58058 per $100 value in 1997-98 to a level of $.57500
per $100 value in 1998-99. Key accomplishments for the 1998-99 fiscal year include:
Acquisition of more than 200 acres of land to be used for future parks
McDermott Drive West was completed as a six -lane divided thoroughfare with
six new signals
Sidewalks were installed on Rivercrest Drive and Roaming Road
Development of a five-year Capital Improvement Program which addresses future
park, public safety, and street and drainage projects
Future Projects. In June of 1999 residents of the City of Allen approved a $52.5 million
bond package. Future Projects included in the bond package are as follows:
Expansion of the Police and Courts building
Construction of a new Central Fire Station / Administration Offices
Construction of the Donald P. Rodenbaugh Natatorium
Drainage system construction and improvements
Construction and Extension of several roads including Bethany Drive east to FM
2551 and west to Alma Drive, Extension of SH 5 to Stacy, Extension of Exchange
Parkway East, Construction of Exchange Parkway West to its intersection with
SH 121, Extension of Alma Drive North to SH 121, Extension of FM 2551 from
Main Street to Stacy Road, and Extension of Stacy Road West to SH 121
FINANCIAL INFORMATION
The City's accounting records for general governmental operations are maintained on a
modified accrual basis, with the revenues being recorded when measurable and available
and expenditures being recorded when the services or goods are received and the
liabilities are incurred. Accounting records for the City's utilities and other proprietary
activities are maintained on the accrual basis.
Management of the City is responsible for establishing and maintaining an internal
control structure designed to ensure that the assets of the government are protected from
loss, theft, or misuse and to ensue that adequate accounting data is compiled to allow for
the preparation of financial statements in conformity with generally accepted accounting
principles. The internal control structure is designed to provide reasonable, but not
absolute, assurance that these objectives are met. The concept of reasonable assurance
recognizes that: (1) the cost of a control should not exceed the benefits likely to be
I
' derived; and (2) the valuation of costs and benefits requires estimates and judgments by
management.
' All internal control evaluations occur within the above framework. We believe that the
City's internal accounting controls adequately safeguard assets and provide reasonable
' assurance of proper recording of financial transactions.
Budgeting Controls. As set forth in the City Charter, Article IV, Sections 4.01 to 4.10,
' the City Council adopts an annual budget prepared by City Management. This budget is
reviewed by the City Council and is formally adopted by the passage of a budget
ordinance. The City Manager is authorized to transfer budgeted amounts between
' departments within any fund; however, any revisions that alter the total expenditures of
any fund must be approved by the City Council.
' Budgetary control has been established at the individual fund level. Financial reports are
produced showing budget and actual expenditures by line item, and are distributed
monthly to City department managers and to others upon request. Individual line items
' are reviewed and analyzed for budgetary compliance, and revenue budgets are reviewed
monthly.
' General Government Functions. The following schedule presents a summary of the
General Fund, Special Revenue Funds, Debt Service Fund, and Capital Project Funds
' revenues for the year ended September 30, 1999, and the amount and percent of increase
in relation to prior year's revenues. For a description of each fund, see Note 1 in Notes to
General Purpose Financial Statements.
1
Increase
Percent
Percent
(Decrease)
of Increase
'
Revenues
Amount
of Total
from 1998
(Decrease)
Ad valorem taxes
$11,111,363
--36 069
$1,817,501
19.56%
Intergovemmemal revenue
0
0%
(6,035,975)
(100.00%)
'
Sales tax
3,597,647
11.63/
600,030
20.02%
Licenses and permits
2,006,937
7.15%
164,334
8.92
Franchise taxes
1,898,119
6.549/4
212,947
12.640%
'
Interest earned
1,419,164
6.26%
(193,150)
(11.98%)
Gifts and contributions
254,693
2.66%
(430,524)
(62.83%)
Charges for services
753,775
2.08%
217,295
40.505/6
Fines
671,934
1.81%
206,178
44.27%
'
Miscellaneous
653,506
1.78%
193,681
42.12%
Special assessments
2,753
0.61%
(153,642)
(98.24%)
'
Total Revenue
$22,369,891
-1-00 -00%
$(3,401,325)
t Intergovernmental Revenues decrease by 100% was due to the fact that last year's
revenues were one-time amounts made up of County bond money to be used for
' McDermott Road West and a grant from Texas Parks and Wildlife to be used for
V
construction of Allen Station Park. These projects have been completed and no
additional revenues were realized in 1998-99. This is the reason that revenues show a
$3,401,325 decrease from the prior year. Excluding this category, revenues were up
13.35% over 1997-98. This increase in revenue is primarily due to continued growth in
the state and regional economy. Increased sales tax revenue of 20.02% reflects this
continued economic growth. The increased residential and commercial construction in
Allen is evidenced by the increase in ad valorem property taxes and licenses and permits.
The property tax collection rate for fiscal year 1999 was 99.43%. Additionally, assessed
taxable valuations at year-end totaled $1,882,324,508, which is a 20.2% increase from
the preceding year. Allocations of property tax levy by purpose for 1999 and the
preceding year are as follows (amounts per $100 assessed value):
Pis
1999
1998
General Fund
$.35005
$.34867
Debt Service
.22495
.23191
Total Tax
$.57500
$.58058
Franchise tax revenue as well as charges for services increased primarily due to a
growing population. The increase in fines can be attributed to increased municipal court
activity. Special assessment revenue decreased because in 1997-98 additional property
assessments for street improvements were paid in full. The decrease in interest earnings
is primarily due to decrease in overall revenue and corresponding cash balances.
The following schedule presents a summary of General Fund, Special Revenue Funds,
Debt Service Funds, and Capital Project Funds expenditures for the year ended
September 30, 1999, and the amount and percentage of increases and decreases in
relation to prior year's expenditures.
Increase
Percent
Percent
(Decrease)
of Increase
Expenditures
Amount
of Total
from 1998
(Decrease)
Current:
General government
$2,640,755
8.48%
$514,312
24.19%
Public safety
8,006,330
25.71%
1,095,205
15.85%
Public works
854,907
2.75%
179,828
26.64%
Culture and recreation
2,913,149
9.35%
371,641
14.62%
Community development
618,812
1.990/0
(129,698)
(17.33%)
Capital outlay
11,638,490
37.37%
692,965
6.33%
Debt service:
Principal retirement
2,161,370
6.94%
233,390
12.11%
Interest
2,306,686
7.41%
591,611
34.49%
Total expenditures
$31,140,499
100.00%
$3,549,254
I
' Increases in general government activities are primarily related to staff additions and
increased operational costs. The General Fund budget for 1999 increased by the
' equivalent of 39.50 full-time positions. The decrease in the Community Development
activities is due to a reorganization that moved the code enforcement division from
Community Development to Pubic Safety. The increase in capital outlay expenditures is
' predominantly due to the continued spending of bond funds on new park and public
facilities and street improvements.
General Fund Balance. The total fund balance of the General Fund of $4,577,854
reflects an increase of $1,036,104, or 29.25%. This is $828,606 more than projected in
the 1999 fiscal year revised budget. This increase is primarily due to revenue sources,
such as sales taxes and licenses and permits, doing better than anticipated and
expenditures being less than the budgeted amount. The ending fund balance represents
81.2 days of operational costs for the 1999-2000 fiscal year General Fund budget. The
current policy requires the City to maintain a fund balance equal to 60 days of operational
costs in the General Fund.
REVENUES AND EXPENDITURES FOR THE YEAR ENDED SEPTEMBER 30,
1999 FOR THE GENERAL FUND, SPECIAL REVENUE FUNDS, DEBT
SERVICE FUND, AND CAPITAL PROJECT FUNDS
REVENUES EXPENDITURES
ALxtllenaau MVJomm
3.93% A6),6
—
1 flmtl[ssWw
OM Y
CmW OW[Y
]f )T{
Convuxtl Cc+tlWmrn�
ie»c
C1JIurt @
Rmmon
9I5%
wart.W.
FuNrt SQay
359%
mmpu
n6
69N4
1d
Tai%
Proprietary Fund Types. The Proprietary Fund types are those funds that are self-
supporting and are comprised of the Enterprise and Internal Service Funds. The
operating revenues of the Enterprise Funds are generated by the sale of water and
wastewater related services, solid waste services, and by drainage service fees and
recreation fees. The City's Water and Wastewater system showed an increase in
Vii
operating revenues of $399,436. This increase is primarily due to growth of the system
in terms of both residential and commercial customers and also the continued drought
conditions effecting the region. Comparative data for the past two fiscal years depicting
net revenues available for debt service coverage is shown next.
1999 1998
Gross Operating Revenues
(Including Interest Income) $10,095,427 $9,825,271
Operating Expenses
(Net of Depreciation) 7,129,451 4,952,415
Net Revenues Available for
Debt Service 2,965,976 4,872,856
Annual Debt Service 1,359,158 1,167,694
Coverage (Income available
For Debt Service divided by
Annual debt service) 2.18 4.17
The Internal Service Fund is used to account for the financing of goods provided by one
department to other departments of the City, on a cost-reimbursemem basis. Fiscal
information on the Internal Service Fund is shown in the general purpose financial
statements.
Debt Administration. As of September 30, 1999, the City had $67,968,873 outstanding
bond indebtedness. Of this amount $49,608,921 were general obligation bonds and
$18,359,952 were revenue bonds. All debt is scheduled to be retired by 2019. The City
issued $13,340,000 in general obligation bonds in 1999. Of this amount, $6,475,000 was
for street projects, $5,770,000 was for parks and recreation projects, $550,000 was for the
police and court building expansion, $350,000 was for the new central fire station, and
$195,000 was for drainage projects. In addition, the City also issued $12,545,000 in
Water and Sewer System Revenue Refunding and Improvement Bonds in 1999. The
$9,000,000 of this which was new money was for two two -million gallon elevated water
storage tanks and a six -million gallon ground water storage tank. The government
maintained its ratings with Moody's Investors Service of an A2 and Standard & Poor's
Corporation of an A-. Article V, Sections 5.01 to 5.06 of the City Charter authorizes the
City to issue bonds when authorized by the taxpaying voters, for any public purpose that
is not prohibited by the constitution and laws of the State of Texas. The City may not use
bond proceeds for any purpose other than that for which the bonds were sold. There is no
limit on the amount of outstanding general obligation or revenue bonds.
In addition, the government has $44,190,000 in authorized but unissued general
obligation bonds and $1,512,000 in authorized but unissued revenue bonds.
Cash Management. Cash temporarily idle during the year was invested in demand
deposits, investment pools, certificates of deposit, and obligations of the U.S. Treasury.
viii
I
' Safety, liquidity, yield, and public trust are the program goals. Safety of the City's funds
is of primary importance in all investment activities, with staff following policies and
t laws when placing any money so as to avoid capital losses. Accordingly, deposits were
either insured by federal depository insurance or collateralized. All collateral on deposits
was held by the Federal Home Loan Bank of Dallas, an agent of the City's financial
institution. Interest income generated for the year for all funds was $2,816,662. Interest
is an important non -tax revenue for the City; all interest earned by each fund is allocated
to that fund.
Insurance & Risk Management. The City of Allen purchases coverage for health
insurance benefits from an independent provider. The City participates in the Texas
' Municipal League Joint Self -Insurance Fund ("TM.IF") for general liability and property
insurance. The City has a self-insured retention for property and liability of $10,000 per
occurrence. Claims over the self-insured retention are covered by TMLIF.
' OTHER INFORMATION
Independent Audit. The Charter of the City of Allen per Article II, Section 2.20, requires
that the City Council shall designate qualified certified public accountants who, as of the
' end of the fiscal year, shall make an independent audit of accounts and other evidences of
financial transactions by the City and submit their report to the Council and the City
Manager. This requirement has been complied with and the independent auditors'
' opinion has been included in this report. No single audit was performed due to the fact
that the City did not meet the threshold of expenditures required in the Federal Single
Audit Act of 1984 and related OMB Circular A-133. Additionally, the City of Allen has
' established an Audit Committee as a subcommittee of the City Council which meets with
the auditors as necessary.
' Awards. The Government Finance Officers Association of the United States and Canada
(GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to
the City of Allen for its comprehensive annual financial report for the fiscal year ended
' September 30, 1998. This was the fust year that the government has achieved this
prestigious award. In order to be awarded a Certificate of Achievement, a government
must publish an easily readable and efficiently organized comprehensive annual financial
t report. This report must satisfy both generally accepted accounting principles and
applicable legal requirements.
' A Certificate of Achievement is valid for a period of one year only. We believe that our
current comprehensive annual financial report continues to meet the Certificate of
Achievement Program's requirements and we are submitting it to the GFOA to determine
' its eligibility for another certificate.
Acknowledgments. The preparation of this report on a timely basis could not have been
' accomplished without the efficient and dedicated services of the entire staff of the
Finance Department. Appreciation is expressed to those employees and other City
employees throughout the organization, especially those employees who were
1
instrumental in the successful completion of this report. Certain individuals worked
many hours and exhibited extraordinary effort in ensuring the accuracy and timeliness of
this report, and their contribution to this effort is greatly appreciated. These individuals
are:
Joanne Stoehr, Accounting Manager
Jason L. Foster, Budget Analyst
Joyce Blankenship, Accountant
Debbie Sumrow, Finance Secretary
We would like to thank the City Manager's office and the members of the City Council
for their interest and support in planning and conducting the financial operations of the
City in a responsible and progressive manner.
Acknowledgment is also given to the representatives of KPMG LLP for their invaluable
assistance in producing the final document.
Respectfully submitted,
Linda Vaughan
Finance Director, CGFO
X
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Allen,
Texas
' For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
' September 30, 1998
A Certificate of Achievement for Excellence in Financial
' Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
' reports ICAFRs) achieve the highest
standards in government accounting
and financial reporting.
1
Off /�}p
�N'rfrto na / �2w'
Wro I`/
. President
' 3 star
Executive Director
H
' xi
City of Allen
Organizational Chart
Boards and Commissions
City Attorney
Citizens of Allen
City Council
City Secretary
Municipal Court
Municipal Judge
City Manager
Assistant City Manager
1 Community Development
Finance
Fire
Library
Parks and Recreation
Personnel
Planning
Police
Public Information Officer
Public Works
xii
CITY OF ALLEN, TEXAS
CITY OFFICIALS
CITY COUNCIL
Stephen Terrell, Mayor
David Kerr, Mayor Pro Tem
Lonnie Thomas
Doug Gallagher
Susan Bartlemay
Kenneth Fulk
Melissa Owen
CITY MANAGER
Peter H. Vargas
FINANCE DIRECTOR
Linda Vaughan
CITY OF ALLEN
.iv
1
1
1
1
1 COMBINED FINANCIAL
1
1
1
i
1
1
1
1
1
1
1
1
1
1
STATEMENTS
KPMG
200 Crescent can
Suite 300
Dalley TX 75201-1885
Independent Auditors' Report
The Honorable Mayor, City Council
and City Manager
City of Allen, Texas:
We have audited the accompanying general purpose financial statements of the City of Allen, Texas (the
City), as of and for the year ended September 30, 1999, as listed in the accompanying table of contents.
These general purpose financial statements are the responsibility of the City's management. Our
responsibility is to express an opinion on these general purpose financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards and the standards
applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the general purpose financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall general purpose financial
statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above present fairly, in all material
respects, the financial position of the City, as of September 30, 1999, and the results of its operations and
the cash flows of its proprietary and similar fund types for the year then ended in conformity with
generally accepted accounting principles.
The schedule of funding progress and employer contributions and the year 2000 information on pages 37
and 38, respectively, are not a required part of the general purpose financial statements, but are
supplementary information required by the Governmental Accounting Standards Board, and we did not
audit and do not express an opinion on such information. We have applied to the schedules of funding
progress and employer contributions certain limited procedures prescribed by professional standards,
which consisted principally of inquiries of management regarding the methods of measurement and
presentation of the schedules. We were unable to apply certain of these limited procedures to the year
2000 information because of the nature of the subject matter underlying the disclosure requirements and
because sufficiently specific criteria regarding the matters to be disclosed have not been established. In
addition, we do not provide assurance that the City's year 2000 remediation efforts will be successful in
whole or in part, or that parties with which the City does business are or will become year 2000 compliant.
C
I
Our audit was performed for the purpose of forming an opinion on the general purpose financial statements
1 of the City, taken as a whole. The combining statements and other schedules listed in the table of contents
are presented for purposes of additional analysis and are not a required part of the general purpose
financial statements. Such information, except for that portion marked unaudited on which we express no
1 opinion, has been subjected to the auditing procedures applied in the audit of the general purpose financial
statements and, in our opinion, is fairly stated, in all material respects, in relation to the general purpose
financial statements taken as a whole.
1►1'(G LCP
1 December 22, 1999
1
1
1
1
1
1
1
1
1
1
1
1
1
' GENERAL PURPOSE FINANCIAL STATEMENTS
1
t
1
1 3
CITY OF ALLEN, TEXAS
Combined Balance Sheet
All Fund Types, Account Groups and Discretely Presented Component Units
September 30, 1999
(With comparative memorandum totals for September 30, 1998)
See accompanying notes to genehl purpose Dnencial stmement.
4
Governmentd fund type
Proprietary fund types
Special
Debt
CaPital
Internal
Asset and Other Debits
Geoenl
revenue
service
project
Enterprise
serviee
Cash end cash equivalent S
1,000,304
1,457,401
51,457
11,796,973
4,909,955
636,987
Investment
3,367,671
3,114,512
874,022
15,343,508
13,691,098
1,118,422
Receivable, net of allowances for
uncollectibles'
Property fixes
51,801
—
—
—
—
—
Sele Mes
710,905
—
—
—
—
—
Accounts
—
—
—
—
1,368,365
—
Accrued interest
30,026
35,614
11,907
71,173
110,734
10,453
Other
1,084,697
—
—
—
23,654
—
Speciel assessment
—
—
—
275,220
—
—
Resuicted asset:
Cash and cash equivalents
—
—
—
—
1,935219
—
Fixed asset, net where applicable
of accumulated depreciation
—
—
—
—
53,426,036
284,668
Oher asset, 9 cost
—
—
—
—
56,000
—
Ober debit:
Amount available in debt service
Pond
—
—
—
—
—
—
Amount to be provided for
retimmem of general long.
m debt
Tool asset end
ober debits $
6,245,404
4,607,527
937,386
27,486,874
75,521,061
2,050,530
See accompanying notes to genehl purpose Dnencial stmement.
4
Exhibit A-1
— 937,386 937,386
937,386 2,021,652
—
Aeeountgroups
Total primary
49,704,004
2,981,996
Totals
Fund types
General
General
government
Component units
reporting entity
Trust and
fixed
lim,nerm
(memorandum
Eeonomie
Community
(memorandum only)
agency
assets
debt
only)
development
development
1999 1998
304,823
—
—
20,157,900
887,336
2,375,179
23,420,415 20,410,564
566,383
—
—
38,075,616
279,000
2,124,648
40,479,264 24,861,299
—
—
—
51,801
—
—
51,801 60,640
—
—
—
710,905
354,943
355,453
1,421,301 1,286,527
—
—
—
1,368,365
—
—
1,368,365 1,427,462
5,49
—
—
275,356
—
23,050
298,406 262,339
—
—
—
I,IOU51
—
—
1,108,351 241,877
—
—
—
275,220
—
—
275,220 277,973
—
—
—
1,935,219
—
—
1,935,219 2,693,224
—
73,335,708
—
127,046,412
8,441,629
9,399,478
144,887,519 117,663,105
—
—
—
56,000
—
—
56,000 94,800
— 937,386 937,386
937,386 2,021,652
—
49,704,004
49,704,004
2,981,996
10,190,000
62,876,000
47,402,902
876,655
73,335,708
50,641,390
241,702,535
12,94,904
24,467,808
279,115,247
218,654,364
5 (Continued)
CITY OF ALLEN, TEXAS
Combined Balance Sheet
All Fund Types, Account Groups and Discretely Presented Component Units
September 30, 1999
(With comparative memorandum totals for September 30, 1998)
Equity and cher credits
Cmmbmed capital
—
Governmental fund".
—
Pmpnetary ru"type
I MIide, E9uif,
—
spa41 Debt
Cap141
Imernal
aM Other Credi4
Gmenl
reretu. terythe
Proleeb
Enlerei4
Wbil0ic'
A.re, payaMe $
1,237,102
105,732 —
1,782,077
2,676,550 —
Acauedliabi6dcs
378,647
— —
—
28,363 —
A —cd mmpesmed ab..
—
— —
—
95,]]4 —
Re4inagepayable
—
5,670 —
7954M
207,016 —
Payable from resmaW asseu:
2050,530
Fund Mlate.
Curren ponI. of revenue
Reserved for ecum4unces
bonen pyable
—
— —
—
945,000 —
Aamedittte spYable
_
—
—
1,141,311 —
Udlitydepmitt
—
— —
—
681,281 —
Defm rem enue
51.01
2,420.71 —
1069,568
— —
Cm payable
—
— —
—
1,126,134 —
RevenmbmdsPsyable
—
— —
—
17,414,952 —
Gae4lpbligadmbmdspyable
—
— —
—
— —
Naepayable
—
—
—
T"Ilabdilie
1,667.350
2,532,279 —
3,647,1"
24}16,411 —
Equity and cher credits
Cmmbmed capital
—
—
—
—
40,D17,631
—
Mve6nal in Ben" feed—
Rnamd urnings:
Reserved for menet bond
principl" imereet
—
—
—
—
103,]59
—
Unmserved
—
—
—
—
11,083,260
2050,530
Fund Mlate.
Reserved for ecum4unces
—
—
—
5,025.570
—
—
Re—d fa deM umce
—
—
937,386
—
—
—
uvrrts d:
Deeipmld fire e..tim
—
—
—
1,166,267
—
—
Undee.,.a
4,5]].854
2.05,248
47.647,908
—
—
Taal retained
earring, and
fund balances
4,577,854
205,348
937,386
D.839,745
11,187,019
2,050,530
Taal fund equiy
and aha eredita
4,577,954
2,075,248
937,386
23,839,745
51,204,650
2.0501530
Cdnmimlm4 and emlingeecie
Taal l.thffiies,
equity and
cuter uetlils $
6.245.404
4.607,527
937,386
27,486,874
75.521061
2,050.530
see xmmpayin9 mte to eenmal pum0u fnmcid nmemmta
[i
Exhibit A-1
Fiduciary
Aeeountgroup
Totals primary
— — — 13,133,390
— — 13,133.390
lotat,
— — — 5,05310
fund typm
Gmeml
Geoetal
govmment
Compmmnt umb
te"rbng endq
Trust and
fined
bnNetm
(mt annduv
Eeon m
Community
(memorandum
only)
Worry999 ry
aveb
debt
only)
development
development
1
1998
_
—
—
5,801,461
6),54]
220]%3
6,089,291
2,854,168
_
—
—
407,010
148,935
—
555,915
348.234
—
—
1,020]1]
1,116,491
—
—
1,116,491
905,911
_
IMw
—
152.120
1,10jZo
436,016
945,000
—
—
945,000
585,000
1,141,311
—
—
1,141311
1,032343
_
—
—
681,281
—
—
681,281
585,623
—
—
—
3,542,246
—
—
3342,246
1.08.059
_
—
—
1,126,134
—
—
1,126,134
I,IM,134
_
—
—
11,414,952
—
10,190,000
23,604,952
14,031,532
—
—
49,60$921
49.604921
—
—
49,08,921
38,413,921
11 .752
11,152
2,981.996
2.993,141
4,90,391
—
—
50,641,390
82,804,359
3,198,438
10,562,603
94565,840
63,626,154
_
—
—
40,011,631
—
—
10,013,631
36,651,534
—
33,335,T18
—
33335]08
8,441,629
9399,438
91,116/15
31,816,105
— — — 101,359
— — 103,359
623,812
— — — 13,133,390
— — 13,133.390
8,939320
— — — 5,05310
— 4,391,351 9,416,921
10,343,953
— — — 933386
— — 933336
1,013,694
_ _ _ 1,166,20
— — 1,164243
933,30
836,05 25,133,665
1,304,393 114.336 26,594838
20.253332
836,655
45,541 433
1304,10
4.105.777
51354.961
42,559,931
336,655
33)35]08
158.891,336
9,346,426
13,905,M5
182,549,401
151,023,610
976,655 33,335.309 50,641,390 241,702,535 12,944,904 24,463,808 219,115,243 218,654 364
FA
CITY OF ALLEN, TEXAS
Combined Statement of Revenues, Expenditures and Changes in Fund Balances
All Governmental Fund Types, Expendable Trust Fund
and Discretely Presented Component Units
Year ended September 30, 1999
(With comparative memorandum totals for year ended September 30, 1998)
Revenues:
Ad valorem razes
Franchise saves
Sales taxes
Licerees and permits
Charges for services
Fines
Gifts and contributions
Intergovernmental revenue
Special assessments
Interest earned
Miscellaneous
Total revenues
Expenditures:
Cunene
General Government
Public mky
Public works
Culture and recreation
Community, development
Capital outlay
Debt service:
Principal retirement
Interest
Total expenditures
Excem(deficiency) of revenues
ever u. flue) expenditures
Other finncing sources:
Proceeds from sale ofbonds
Loan and lease proceeds
Sale fland
Operating trmtters out to primary, government
Operating banskr in knm component unit
Operming transkrs in
Operating transfers out
Total other financing sources
Excess(deficiency) ofrevenues and
other financing sources over expenditures
and other financing uses
Fund balances at beginning ofyear
Residual equity transfer
Fund balances at end ofyear
Covernmeotal fund types
2,640,755
Sperial
Debt
Capiul
General
revenue
service
projects
E 6,886,564
—
4,224.799
—
1,852,246
45,873
—
—
3,597,647
—
—
—
2,006,937
—
—
—
358,597
—
—
395,178
671,934
—
—
-
-
254,693
—
—
—
—
—
2,753
179,315
152,746
146,579
940,524
520,295
133,211
16,073,535
586,523
4,371,378
1,338,455
2,640,755
—
—
—
8,006330
—
—
—
750,725
104,182
—
—
2,913,149
—
—
—
618,812
—
—
-
-
254,693
—
1093,797
16,370
—
2,145,000
—
2,306,686
14,946,141
358,875
4,451,686
11,383,797
1,127,394
227,648
(80308)
(10,045342)
13,340,000
60,000 140,000 — —
1,009,209 — — 1,446,204
(1,175,151) (107,848) (318,834)
(105,942) 32,152 14,467370
1,021,452
259,800
(80,308)
4,422,028
3,541,750
1,815,448
1,017,694
19,417,717
14,652
E 4,577,854
2,075,248
937,386
23,839,745
See accompanying notes to general purpose financial sudement.
8
Exhibit A-2
Fidueinry
ToUls primary
2,794,461
321,567
Towls
3,134,594
fund type
government
Component unit
reporting entity
-
Expendable
(memorandum
Economic
Community
(memonndnm only)
bust fund
only)
development
development
1999
1998
-
(24,000)
2,913,849
26,199,963
(68,000)
-
11,111,363
-
-
11,111,363
9,293,862
-
1,898,119
-
-
1,898,119
1,685,172
-
3,597,647
1,798,923
1,798,823
7,195,393
5,995,233
-
2,006,937
-
-
2,006,937
1,842,603
-
753,775
-
-
753,775
536,480
-
671,934
-
-
671,934
465,756
5,665
260,358
-
-
260,358
702,275
-
-
-
-
-
6,035,975
-
2,753
-
-
2,753
156,395
25,800
1,444,964
164,022
271,161
1,880,147
2,015,654
501,258
1,154,764
35
1,154,799
620,253
532,723
22,902,614
1,962,980
2,069,984
26,935,578
29,349,658
'
=
153,7N
2,794,461
321,567
18,566
3,134,594
2,491,051
-
8,006,330
-
-
8,006,330
6,911,125
' -954,907
-
559,186
-
1,414,093
1,126,362
460,133
00
7,913,849
-
(24,000)
2,913,849
26,199,963
(68,000)
-
618,812
-
62,148
680,960
766,227
48,000
-
11,638,490
2,314,413
6,519,672
20,472,575
14,999,789
'
(1,601,833)
(1,601,833)
-
2,161,370
1,959,677
160,000
4,281,047
211,307
22,011,459
3,111
2,309,797
305,087
219,190
2,894,074
2,360,145
5,149,515
157,517
31,298,016
5,459,930
7,039,576
43,797,522
55,065,969
'
375,206
(8,395,402)
(3,49,950)
(4,969,592)
(16,861,944)
(25,716,311)
13,340,0005,125,M
18,465,000
10,000,000
,084,532
-
-
2,722,879
-
2,722,879
460,133
-
(24,000)
(231,100)
(255,100)
(68,000)
25,100
225,100
225,110
48,000
2,455,413
2,455,413
1,461,353
(1,601,833)
(1,601,833)
(857,503)
25,100
14,418,680
2,698,879
4,893,900
22,011,459
12,128,515
'
400,306
6,023,278
(798,071)
(75,692)
5,149,515
8,092,204
'
421,536
26,214,145
2,102,868
4,581,419
32,898,432
25,138,750
14,652
14,652
(332,522)
821,842
32,252,075
1,304,797
4,505,727
38,062,599
32,898,432
9
r
CITY OF ALLEN, TEXAS
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget (GAAP Basis) and Actual
General and Debt Service Funds
Year ended September 30, 1999
Revenues:
Ad valorem nixes
Franchise tones
Sales taxes
Licenses and permits
Charges for services
Fines
Interest eamed
Miscellaneous
Total revenues
Expenditures:
Current:
General Government
Public safety
Public works
Culture and recreation
Community development
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess of revenues over expenditures
Other financing sources (uses):
Operating transfers in from component units
Operating transfers in
Operating transfers out
Total other financing sources (uses)
Excess of revenues and other
financing sources over expenditures
and other financing uses
Fund balances al beginning of year
Residual equity transfer out
Fund balances at end of year
General fund
favorable
Budget Actual (unfavorable)
S 6,749,211
6,886,564
137,353
1,748,467
1,852,246
103,779
3,597,361
3,597,647
286
1,902,136
2,006,937
104,801
364,857
358,597
(6,260)
586,552
671,934
85,382
145,000
179,315
34,315
568,334
520,295
(48,039)
15,661,918
16,073,535
411,617
2,687,362
2,640,755
46,607
8,151,911
8,006,330
145,581
810,030
750,725
59,305
3,032,033
2,913,149
118,884
879,514
618,812
260,702
16,370
16,370
-
15,577,220
14,946,141
631,079
84,698
1,127,394
1,042,696
60,000
60,000
-
996,910
1,009,209
12,299
(934,110)
(1,175,151)
(241,041)
122,800
(105,942)
(228,742)
207,498
1,021,452
813,954
3,541,750
3,541,750
-
14,652
14,652
$ 3,749,248
4,577,854
828,606
Sce accompanying notes to general purpose financial statements.
10
Exhibit A-3
Debt service fund
2,145,000
2,145,000
Variance -
2,308,434
2,306,686
favorable
Budget
Actual
(unfavorable)
4,206,825
4,224,799
17,974
103,740
746,579
42,839
4,310,565
4,371,378
60,813
2,145,000
2,145,000
—
2,308,434
2,306,686
1,748
4,453,434
4,451,686
1,748
(142,869)
(80,308)
62,561
(142,869)
62,561
(80,308)
1,017,694
1,017,694
—
874,825
937,386
62,561
r
Exhibit A-4
CITY OF ALLEN, TEXAS
Combined Statement of Revenues, Expenses
and Changes in Fund Equity -
All Proprietary Fund Types and Similar Trust Fund
Year ended September 30, 1999
(With comparative memorandum totals for the year ended September 30, 1998)
Operating revenues:
Wmersales
server charges
Counedion fees
Garbage collections
Service charges
Drainage fees
Recrestion fees
Miscellaneous
Total operating revenues
Operating expenses.
Personal services
Contractual servicrs
Maintenance
Supplies
Depreciation end amodization
Bud debt expense
Other
Total operating expenses
Operating income (loss)
N000penring revenues (expenses):
Interest income
Interest expense on revenue bonds
Tool ..Perusing
revenues (expenses)
Income (loss) before
operating transfers
Operating transfers in
Operating transfers in from component unit
Operating transfers out
Net income
Add depreciation on contributed assets
Fiduciary
Proprietary fund types fund type TOlab
Internal Nonespendablr (memorandum only)
Ente,priae service bust 1999 1998
S 6,304,831 -
- 6,304,831
6,280,467
2,37$260 -
- 2,378,260
2,050,238
187,152 -
- 187,152
163,597
1,786,007 -
- 1,786,007
1,518,495
259,596 -
- 259,596
265,790
464,013 -
- 464,013
415,778
378,479 -
- 378,479
353,096
471,609 -
- 471,609
415,746
12,229,947 - - 12,229,947 11,463,207
1,822,601
-
- 1,822,601
1,526,197
5,381,651
-
- 5,381,651
4,575,167
203,025
-
- 203,025
234,756
7010
-
- 78,310
56,559
1,872,068
115,100
- 1,987,168
1,689,630
64,039
-
- 64,039
12,256
888,179
366,775
888,179
652,951
10,309,873
115,100
11,313,152
8,747,516
1,920,074
(115,100)
1,804,974
2,715,691
868,369 67,700
(988,663)
M6 936,515 565,781
(988,663) (625,792)
(120,294)
67,700
M6 (52,148)
(60,011)
1,799,780
(47,400)
446 1,752,826
2,655,680
144,397
414,175
- 558,572
470,621
30,000
-
- 30,OOD
20,000
(1,412,151)
(1,412,151)
(741,949)
562,026
366,775
446 929,247
2,404,352
998,529
998,529
968,207
12 (Continued)
1
1
1
I
1
Exhibit A4
CITY OF ALLEN, TEXAS
Combined Statement of Revenues, Expenses
and Changes in Fund Equity -
All Proprietary Fund Types and Similar Trust Fund
Year ended September 30, 1999
(With comparative memorandum totals for the year ended September 30, 1998)
Fiduciary
Proprfelary fund types fund type Totab
Internal Norimpendable (memorandum only)
Enterprise service bust 1999 1998
locma in retained
eaming/fund balance
5 1,560,555
366,775
446
1,927,776
3,372,559
Retained earnings fund balance
M beginning of year
9,626,4"
1,683,755
54,367
11,364,586
7,992,027
Retained eamings/fund Monte
M end of year
11,187,019
2,050,530
54,813
13,292,362
11,3",586
Contributed capital et beginning ofyear
34,948,487
—
—
34,948,487
26,130,216
Capital convibutions
6,082,325
—
—
6,082,325
9,786,478
Depreciation transfected from
retained comings
(998,529)
—
—
(998,529)
(969,207)
Residual equity trmsfm
(14,652)
(14,652)
Contributed capital at end ofyear
40,017,631
—
—
40,017,631
34,948,487
Fund equity et end ofycer
E 51,204,650
2,050,530
54,813
53,309,993
46,313,073
See accompanying nems to general purpose financial st umnents
13
Exhibit A-5
CITY OF ALLEN, TEXAS
Combined Statement of Cash Flows
All Proprietary Fund Types and Similar Trust Fund
Year ended September 30, 1999
(With comparative memorandum totals for the year ended September 30, 1998)
14 (Continued)
Pduckry
ProDnenry in" yon
full ype
Tnab
].ternI
zie-pendibl,
(dm9nMunfly)
Enterysve
trust
1999
1998
Cash flows fiun opens ing ac9vitin:
ODedung in9me(lou) 5
1,920,074
(115,100)
—
1,804,914
2,715,691
Adryslmmis to aconcile uprating
me.,,(I.),.. eash p ikled
by operetine aetivilim:
oeddmion and ammndin expense
1,88,066
115,100
—
1,987,168
1,689,630
Lime—in... tc«i-bl,
59,09]
—
—
59,09]
(561,408)
Innene in dAd receivable
70,625
—
—
70,625
(42,660)
Increase in dhd aims
(11,200)
—
—
(11.200)
—
Incrcarelnamadunyable
1,956,668
—
—
1,95608
(41.956)
Increase in aecrued habililin
8,304
—
—
8,544
(44,001)
Increare in iex M compensated ahmnen
5,632
—
—
5,632
11,270
Indeax in diliy depouu
95,654
—
—
95,650
66,930
lncreee in rtuinee F yaMc
192,472
192,472
66,930
Taal adluaunene,
4,249,360
115,100
4,364.460
1,150,695
No ei sh provided by operning
acnvitin
6,169,434
6,169,434
3.866,386
Cash flows from nonnDiW Onndng anvirie:
0peenine.1ifere fide olhv funds
174,397
414,175
—
588,572
158,099
0,icredng fere nal kdbe, fulls
(1.412,151)
—
—
(1,412,151)
(741.949)
Residual equity tran1
(14,652)
(14,652)
332,622
Nn cnh (used in) provided by
n.Wt.1 financings Iimi.
(1,252,406)
414.175
(838,231)
(251.228)
Cash flows fide capful and relined Nwneing
am tics:
Conuibutiana from developer
11089,656
—
—
1,089,656
162,411
Pmt firm nuance ofievenue bonds
12,545,000
—
—
12,545,000
—
Pndipalpaid mmmuebondmnnintice
(3,976,580)
—
—
(3,976,580)
(533,710)
1mdnl paid
(879,600)
—
—
(879,600)
(761,536)
".nilin and cdwncnn of ndlel ese65
(0,752,477)
(105,72(1
(4,858.201)
(1,938,515)
Net ends Wovided by (used in)
wpiul and relncd iindwing
xtnrities
4,025,999
(105,84)
3,920.215
(2,144(128)
14 (Continued)
Exhibit A-5
CITY OF ALLEN, TEXAS
Combined Statement of Cash Flows
All Proprietary Fund Types and Similar Trust Fund
Year ended September 30, 1999
(With comparative memorandum totals for the year ended September 30, 1998)
Cash now. 6om hii, amiNka.
Pu w ofinvdmm( ucunnes
Peareeds flan mamnry of
mvannant sanrnie.
W.. racivm
Na cash (uud in)1nowdd
by m e ung aaivilics
Na inaeax (dmanae) in cash and cash
quimlant.
Cash and cash equsolena m dm
beginning M. year
Caeh and coh equivalems m the
and offt year
Cmmbmima of Oaed assaa
fr9m dnnad p n
4,158,521
FSJuuary
54}01 5,325,458 5,286,600
P.,n., fund typo
fund type
Tutak
S 6,845,124
Intennl
Nan-,dable
(memorandum only)
Enterprise
1.
1999
1".
$ (33,494,057)
(2,562,828)
—
(36,036,985)
(15,481,599)
26,458,67
1,620,982
—
28,IM,609
13,488,656
79,056
57,246
512
832,314
555,545
(6,256,324)
(E34,100)
512
(2,089,%2)
(1,417,3%)
2,686,653
(525,649)
512
2,161,516
(411,146)
4,158,521
1,162,636
54}01 5,325,458 5,286,600
S 6,845,124
636,982
54,813 2,536,924 5,325,458
E 6,082,325
See azwmpanymg nines(. general p . Menial naannaii ,
15
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
(1) General Statement and Summary of Significant Accounting Policies
(a) General Statement
The City of Allen (City) was incorporated in 1953 under the provisions of Chapter 11 Title 28,
Texas Revised Civil Statutes of 1925. In 1979, the City adopted a charter making it a home
rule city operating under a Council -Manager form of government. The City provides such
services as are authorized by its charter to advance the welfare, health, comfort, safety and
convenience of the City and its inhabitants.
(b) Summary of SignifrcantAccounting Policies
The accounting and reporting policies of the City relating to the funds and account groups
included in the accompanying general purpose financial statements conform to generally
accepted accounting principles for local governmental units as promulgated by the
Governmental Accounting Standards Board (GASB). The following represent the more
significant accounting and reporting policies and practices used by the City.
(c) Reporting Entity
The accompanying general purpose financial statements include all the accounts of all City
operations. As required by generally accepted accounting principles, these financial
statements present the City and its component units, entities for which the City is considered
to be financially accountable. Blended component units, although legally separate entities are,
in substance, part of a government's operations and data from these units are therefore
combined with data of the primary government. The City has no blended component units.
The discretely presented component units, on the other hand, are reported in a separate column
in the combined financial statements to emphasize they are legally separate from the City,
which is the primary government.
The City's reporting entity includes two discretely presented component units, the Allen
Economic Development Corporation (AEDC) and the Community Development Corporation
(CDC), which have September30 fiscal year -ends. AEDC is responsible for aiding,
promoting and furthering economic development within the City. CDC is responsible for
supporting the improvements in community parks and recreation, streets and sidewalks, public
safety and the community library. The members of both AEDC's and CDC's Boards of
Directors are appointed by the City Council. Both AEDC and CDC are fiscally dependent
upon the City as the City Council approves their budgets and must approve any debt issuances.
However, the component units do not qualify for blending because the component unit
services directly benefit the community rather than the City itself AEDC and CDC are
presented as governmental fund types and do not issue separate financial statements.
(d) Basis of Presentation - Fund Accounting
The accounts of the City are organized on the basis of funds and account groups, each of
which is considered a separate accounting entity. The operations of each fund are accounted '
for with a separate set of self -balancing accounts that comprise its assets, liabilities, fund
balance/retained earnings, revenues and expenditures/expenses. Account groups are a
16 (Continued)
1
1
1
1
1
1
1
1
1
1
t
1
1
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
reporting device to account for certain assets and liabilities of the governmental funds not
recorded directly in those funds. The various funds are summarized by type in the general
purpose financial statements. The following fund types and account groups are used by the
City:
GOVERNMENTAL FUND TYPES
Governmental funds are used to account for the City's general government activities.
Governmental fund types use the flow of current financial resources measurement focus.
Generally, only current assets and current liabilities will be included on the balance sheet. The
operating statements for these funds represent changes in net current assets. These funds
follow the modified accrual basis of accounting. Under such modified accrual basis of
accounting, where revenues are recognized when susceptible to accrual (i.e., when they are
measurable and available). "Measurable" means the amount of the transaction can be
determined and "available" means collectible within the current period or soon enough
thereafter to pay liabilities of the current period. The City considers all revenues available if
they are collected within 60 days after year-end. Expenditures are recorded when the related
fund liability is incurred, except for unmatured interest on general long-term debt which is
recognized when due, and certain compensated absences and claims and judgments which are
recognized when the obligations are expected to be liquidated with expendable available
financial resources.
Property taxes, franchise taxes and interest are susceptible to accrual. Sales taxes collected
and held by the state at year-end on behalf of the City are also recognized as revenue. Other
receipts (special assessments) become measumble and available when cash is received by the
City and are recognized as revenue at that time. The following are the City's governmental
fund types:
General Fund - The General Fund is the general operating fund of the City. It is used to
account for all financial resources except those required to be accounted for in another fund.
All general tax revenues and other receipts that am not allocated by law or contractual
agreement to other funds are accounted for in this fund.
Special Revenue Funds - The Special Revenue Funds account for the proceeds of specific
revenue sources (other than expendable trusts or major capital projects) that are legally
restricted to expenditures for specified purposes.
Debt Service Fund - The Debt Service Fund accounts for the accumulation of resources for,
and the payment of, general long -tens debt principal, interest and related costs.
Capital Projects Funds - The Capital Projects Funds account for financial resources to be
used for the acquisition or constrnction of major capital facilities, other than those financed by
the proprietary fund types.
17 (Continued)
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
PROPRIETARY FUND TYPES
Proprietary Funds are accounted for on the flow of economic resources measurement focus
and use the accrual basis of accounting. Under this method, revenues are recorded when
earned and expenses are recorded at the time liabilities are incurred. The balance sheets of
these funds present all assets and liabilities associated with the funds and segregate fund
equity into contributed capital and retained earnings. The operating statements for these funds
present changes in net total assets. In accordance with paragraph 7 of GASB Statement
No. 20, Accounting and Financial Reporting for Proprietary Funds and Other Governmental
Entities That Use Proprietary Fund Accounting, the City applies all FASB statements issued
on or before November 30, 1989, unless it conflicts with or contradicts GASB
pronouncements, and has chosen not to follow FASB statements issued subsequent to that
date. Proprietary funds of the City include the following fund types:
Enterprise Funds - The Enterprise Funds are used to account for operations (a) that are
financed and operated in a manner similar to private business enterprises where the intent of
the governing body is that the costs (expenses, including depreciation) of providing goods or
services to the general public on a continuing basis be financed or recovered primarily through
user charges; or (b) where the governing body has decided that periodic determination of
revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance,
public policy, management control, accountability or other purposes.
Internal Service Fund - The Internal Service Fund is used to account for the financing of
goods or services provided by one department or agency to other departments or agencies of
the City, or to other governmental units, on a cost -reimbursement basis.
FIDUCIARY FUND TYPES
Fiduciary funds account for assets held by the government in a trustee capacity or as an agent
on behalf of others. Trust funds account for assets held by the government under the terms of
a formal trust agreement.
Expendable Trust Funds - Expendable Trust Funds are accounted for and reported in
essentially the same manner as governmental funds, using the same measurement focus and
basis of accounting. Expendable trust funds account for assets where both the principal and
interest may be spent.
Nonexpendable Trust Fund - The Cemetery Trust Fund is the City's sole nonexpendable
trust fund and is accounted for and reported in essentially the same manner as proprietary fund
types using the same measurement focus and basis of accounting. The trust corpus or
principal of the Cemetery Trust Fund cannot be spent.
18 (Continued)
'
CITY OF ALLEN, TEXAS
'
Notes to General Purpose Financial Statements
September 30, 1999
'
ACCOUNT
GROUPS
Account groups are used to establish accounting control and accountability for the City's
'
general fixed assets and general long-term liabilities that are not accounted for in proprietary
or trust funds. The following are the City's account groups:
General Fixed Assets Account Group - This account group is established to account for all
fixed assets of the City, other than those accounted for in the proprietary fund types.
General Long-term Debt Account Group - This account group is established to account for
'
all long-term liabilities of the City, except those accounted for in the proprietary fund types.
(e) Cash, Cash Equivalents and Investments
State statutes and policy as established by the City Council authorize the City to invest in
certificates of deposit, direct obligations of the U.S Treasury, investment pools consisting of
such U.S Treasury obligations, repurchase agreements, commercial paper and mutual funds.
'
Investments are stated at cost or amortized cost which approximates market. Substantially all
operating cash and cash equivalents are maintained in pooled cash and time deposit accounts.
Interest income relating to pooled deposits is allocated to the individual funds based on each
tfund's
pro rata share of total pooled deposits.
For purposes of the statement of cash flows, the proprietary and nonexpendable trust funds
consider all highly liquid investments (including restricted assets) with an original maturity of
'
three months or less when purchased to be cash equivalents. Investments in Texpool are also
considered cash equivalents, as they are available for withdrawal on demand.
'
(n Budget
The City Council adheres to the following procedures in establishing the budgets reflected in
'B
the accompanyingeneral u ose financial statements:
PrP
1. Each year the City Manager is required to submit to the City Council a proposed budget
for the fiscal year beginning on the following October 1. The operating budget includes
'
proposed expenditures and the means of financing them.
2. Public hearings are conducted to obtain taxpayer comments.
'
3. Prior to October 1, the budget is legally enacted by the City Council through passage of an
ordinance.
'
4. Annual budgets are legally adopted for the General Fund and Debt Service Fund on a basis
consistent with generally accepted accounting principles. Formal budgetary integration is
not employed for proprietary funds. However, the City does adopt an annual budget for
'
those funds for managerial control. Additionally, formal budgetary integration is
employed as a management control device in the Special Revenue Funds and Capital
Project Funds for the life of the related grants or projects.
t19
(Continued)
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
5. The City Manager is authorized to adjust budgeted amounts; however, such revisions may
not result in total expenditures (appropriations) in excess of budgeted revenues at the fund
level without approval of the City Council. Therefore, the legal level of budgetary control
is the fund level.
6. Annual budgets am prepared in accordance with generally accepted accounting principles
(GAAP) and are legally adopted for the General Fund and Debt Service Fund. Budgets for
the Special Revenue Funds and Capital Project Funds are normally established pursuant to
the terms of the related Federal and state grant awards or to the term of the related bond
indentures; that is, on a program or project basis. Accordingly, budgetary data for the
Special Revenue Funds and Capital Project Funds has not been presented in the combined
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual.
Such statement presents only comparison of budgetary data to actual results of operations
for the government funds for which annual operating budgets are legally adopted.
Budgeted amounts are as originally adopted, or as legally amended. The City Council may
amend the budget by passing a budget appropriation ordinance. In fiscal year 1999, a budget
amendment totaling $538,924 for the General Fund was approved by the City Council.
(g) Investments
Investments are accounted for in accordance with GASB 31, Accounting for Financial
Reporting for Certain Investments and for External Investment Pools. Investments are
recorded at cost, as the original maturities of the City's investments are less than one year.
(k) Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other commitments for
the expenditure of funds are recorded in order to reserve that portion of the applicable
appropriation, is utilized in the governmental funds. Under the City's budgetary process,
appropriations lapse at fiscal year-end. Encumbrances are reported as reservations of fund
balances because they do not constitute expenditures or liabilities.
(t) Transactions Between Funds
Advances between funds are accounted for in the appropriate interfund receivable and payable
accounts. All legally authorized transfers are appropriately treated as operating transfers and
are included in the results of operations of both governmental and proprietary funds.
Nonrecurring or nonroutine transfers of equity between funds - for example, contribution of
capital assets to a proprietary fund or transfers of residual balances of discontinued funds to
other funds - are accounted for as residual equity transfers.
20 (Continued)
1
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1
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
(j) Special Assessments
The City has the authority to make special assessments to property owners as part of the
financing of capital improvements. Such assessments are recorded in the capital projects fund
as receivables when assessed and are recognized as revenue when both the measurable and
available criteria have been met (generally when collected).
(k) General FixedAssers
General fixed assets that have been acquired for general governmental purposes are recorded
as expenditures in the governmental funds and capitalized at cost or at estimated historical
cost if purchased or constructed in the general fixed assets account group. Contributed fixed
assets are recorded in general fixed assets at estimated fair market value at the time received.
No depreciation has been provided on general fixed assets, nor has interest been capitalized.
Public domain (infrastructure) general fixed assets contributed by subdividers or other
contractors consisting of certain improvements other than buildings, including roads, bridges,
curbs and gutters, streets and sidewalks, drainage systems, and lighting systems, are not
capitalized. Such assets normally are immovable and of value only to the City; therefore, the
purpose of stewardship for these items is satisfied without recording these assets.
The cost of normal maintenance and repairs that do not add to the value of the asset or
materially extend assets' lives are not included in the general fixed asset account group or
capitalized in the proprietary funds.
(l) Proprietary Funds - Property, Plant and Equipment
Property, plant and equipment owned by the proprietary funds is stated at cost or estimated
fair market value at the date contributed. Depreciation has been provided on a straight-line
basis over the estimated useful lives of the assets. The estimated useful lives are as follows:
Utility plant in service
40 years
Pump station
40 years
Machinery and equipment
6 years
Vehicles
2 years
Maintenance, repairs and minor renewals are charged to operating expense; major property
replacements are capitalized.
Depreciation on contributed assets is recorded as an expense in the statement of operations,
and then charged to the related contributed equity account.
Capitalization of interest related to proprietary funds constructed assets, other than those
contributed by subdividers, during the year ended September 30, 1999 was not material, and
therefore, was not recorded in the accompanying general purpose financial statements.
21 (Continued)
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
(m) Vacation and Sick Leave
City employees earn vacation and sick leave which may either be taken or accumulated, up to
certain amounts, until paid upon retirement or termination. Upon termination or retirement, an
employee is reimbursed up to a maximum of 200 hours of vacation pay and 24 hours of sick
leave for each year of service. Compensated absences pay and related salary payments are
accrued when incurred in proprietary funds and reported as a fund liability. Amounts that are
expected to be liquidated with expendable available financial resources are reported as an
expenditure and a fund liability of the governmental fund that will pay it. Amounts not
expected to be liquidated with expendable available financial resources are reported in the
general long -teen debt account group. No expenditure is reported for these amounts.
(n) Intergovernmental Revenues
Intergovernmental revenues and related receivables arise through funding received from
Federal and state grants. Grant revenues are recognized when the expenditures are made and
other related requirements are met.
(o) Fund Deficits
The Development Fees Fund has a retained earnings deficit of $654,501.
(p) Fund Equity
Contributed capital is recorded in proprietary funds that have received capital grants or
contributions from developers, customers or other funds. Reserves represent those portions of
fund equity not appropriable for expenditures or legally segregated for a specific future use.
Designated fund balances represent tentative plans for future use of financial resources.
(q) Bond Issuance Costs
Bond issuance costs for governmental fund type debt are recognized in the current period. In
proprietary fund types, these costs are recorded as deferred charges and amortized over the
term of the bonds using the effective interest method.
(r) Comparative Data
Comparative total data for the prior year have been presented in selected sections of the
accompanying general purpose financial statements in order to provide an understanding of
the changes in the government's financial position and operations.
22 (Continued)
' The City may challenge appraised values established by the appraisal district through various
appeals and, if necessary, legal action. Under this system, the City sets tax rates on City property.
However, if the effective tax rate, excluding tax rates for bonds and other contractual obligations,
' adjusted for new improvements, exceeds the rate for the previous year by 8%, qualified voters of the
City may petition for an election to determine whether to limit the tax rate to no more than 8%
above the tax rate of the previous year.
d
1
23 (Continued)
'
CITY OF ALLEN, TEXAS
'
Notes to General Purpose Financial Statements
September 30, 1999
Memorandum
(s) Only - Total Columns
The total columns presented in the general purpose financial statements are captioned
"Memorandum
'
Only" to indicate that they are presented only to facilitate financial analysis.
No consolidating entries or other eliminations were made in the aggregation of the totals; thus,
they do not present consolidated information and do not purport to present financial position,
t
results of operations or cash flows in conformity with generally accepted accounting
principles.
'
(2) Property Tax
The City's property tax is levied each October 1 on the assessed value listed as of the prior January 1
for all real and certain personal property located in the City. Appraised values are established by the
'
Central Appraisal District of Collin County at 100% of estimated market value and certified by the
Appraisal Review Board. The assessed value upon which the 1999 levy was based was
$1,882,324,508
'
Taxes are due on October 1 and are delinquent after the following January 31. Current tax
collections for the year ended September 30, 1999 were 99.5% of the current tax levy.
'
Property taxes levied for 1999 are recorded as receivables, net of estimated uncollectibles. Tax
receivables collected during the current period have been recognized as revenues in 1999. The
remaining receivables are reflected as deferred revenue at September 30, 1999. Taxes estimated to
be collectible within 60 days following the close of the fiscal year are not material to the general
'
purpose financial statements and are therefore not recognized as revenue.
The City is permitted by Article XI, Section 5, of the State of Texas Constitution to levy taxes up to
$2.50 per $100 of assessed valuation for general governmental services including the payment of
principal and interest on general obligation long-term debt. The combined tax rate to finance
general governmental services including the payment of principal and interest on long-term debt for
'
the year ended September 30, 1999 was $.5750•per $100 of assessed valuation.
In Texas, countywide central appraisal districts are required to assess all property within the
appraisal district on the basis of 100% of its appraised value and are prohibited from applying any
'
assessment ratios. The value of property within the appraisal district must be reviewed every five
years; however, the City may, at its own expense, require annual reviews of appraised values.
' The City may challenge appraised values established by the appraisal district through various
appeals and, if necessary, legal action. Under this system, the City sets tax rates on City property.
However, if the effective tax rate, excluding tax rates for bonds and other contractual obligations,
' adjusted for new improvements, exceeds the rate for the previous year by 8%, qualified voters of the
City may petition for an election to determine whether to limit the tax rate to no more than 8%
above the tax rate of the previous year.
d
1
23 (Continued)
I
CITY OF ALLEN, TEXAS '
Notes to General Purpose Financial Statements
September 30, 1999 ,
(3) Deposits, Investments and Investment Policies '
Deposits - State statutes require that all deposits be fully collateralized by U.S. Government
obligations or obligations of Texas and its agencies that have a market value of not less than the '
principal amount of the deposits.
The City's demand deposits and certificates of deposit were fully insured or collateralized at ,
September 30, 1999 with collateral required by the State statutes. At year-end, the carrying amount
of the City's deposits was $2,640,819 and the bank balance was $2,177,603. Of the bank balance,
$200,000 was covered by Federal Depository Insurance and the remainder was covered by collateral '
held by the pledging financial institution's agent in the City's name. The City's petty cash balance
at September 30, 1999 was $4,230.
The carrying amount of deposits for AEDC and CDC, discretely presented component units, were '
$7,972 and $1,045,906, respectively, with no corresponding bank balances as they are pooled with
the City's deposits.
Investments - State statutes authorize the City to invest in U.S. Government obligations, obligations '
of Texas and its agencies and fully collateralized repurchase agreements. Investments are recorded
at cost, as the original maturities of the City's investments are less than one year and the difference '
from fair value is immaterial.
Investments are categorized into three categories as defined by GASB Statement No. 3 to give an
indication of the level of risk assumed by the entity at year-end: Category 1 includes investments
that are insured or registered or for which the securities are held by the City or its agents in the
'
City's name. Category 2 includes uninsured and unregistered investments for which the securities
are held by the cmunterparty's trust department or agent in the City's name. Category 3 includes
uninsured and unregistered investments for which the securities are held by the counterparty, or by
'
its trust department or agent but not in the City's name. At September 30, 1999 the City had no
Category 2 or 3 investments.
by
'
The City, AEDC and CDC invest in the Texpool which is an investment fund authorized the
Texas Legislature and administered by the Texas State Treasury. The Texas Treasury Safekeeping
Trust Company is trustee of Texpool and is a limited purpose trust company authorized pursuant to
Texas Government Code. The purpose of the Texpool is to allow for the pooling of public funds to
,
provide a higher yield on the pooled investment than would be possible with the investment of the
individual public entity's funds. Texpool investments are subject to the same investment policies
maintained by the State Treasury for all state funds. The Legislature has authorized only certain
,
investment instruments for public funds, including repurchase agreements, U.S. Treasury bills and
bonds, securities of other U.S. government agencies, commercial paper and other safe instruments.
The investment in Texpool and any accrued interest may be redeemed at the City's discretion.
'
1
so
24 (Continued)
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
Amounts invested in Texpool, by the City, AEDC and CDC, respectively, are not categorized in
accordance with GASB No. 3 because they are not evidenced by securities that exist in physical or
book entry form. At September 30, 1999, the City's investment balances were as follows:
25 (Continued)
Category
Carrying
Fair
1
amount
value
U.S. Treasury Bills
$ 5,896,000
5,896,000
5,806,852
Other Government Agency Securities
32,179,616
32,179,616
32,502,169
Texpool
—
19,448,070
19,448,070
$ 38,075,616
57,523,686
57,757,091
At year-end, AEDC's investment balances were as follows:
Category
Carrying
Fair
1
amount
value
Other Government Agency Securities
279,000
279,000
282,137
Texpool
—
879,364
879,364
$ 279,000
1,158,364
1,161,501
At year-end, CDC's investment balances
were as follows:
Category
Carrying
Fair
1
amount
value
Other Government Agency Securities
2,124,618
2,124,648
2,144,818
Texpool
—
1,329,273
1,329,273
$ 2,124,618
3,453,921
3,474,091
25 (Continued)
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
(4) Fixed Assets
A summary of changes in general fixed assets follows:
Balance at
Balance at
October 1,
September 30,
1998 Additions
Deletions 1999
Land $ 7,694,917 147,182
— 7,842,099
Buildings and
—
improvements 8,973,267 30,648
— 9,003,915
Improvements other than
—
buildings 24,202,897 12,466,795
— 36,669,692
Machinery and equipment 9,422,918 809,114
— 10,232,032
Construction in progress 10,661,558 11,375,324
(12,448,912) 9,587,970
$ 60,955,557 24,8296063
(12,448,912) 736335,708
At September 30, 1999, construction in progress consisted of utilities construction, street paving and
park improvement projects for which total contract
commitments of $5,025,570 have been
encumbered. Future expenditures for capital projects
will be funded from unexpended bond
proceeds and additional general obligation bonds. Authorintion to issue additional bonds may be
requested from the qualified voters of the City.
A summary of proprietary fund type property, plant and equipment at September 30, 1999 is as
follows:
Land
Utility plant in service
Pump station
Machinery and equipment
Construction in progress
Vehicles
Less accumulated depreciation
26 (Continued)
Internal
Enterprise
service
$ 601,840
—
60,117,044
—
2,528,832
—
1,371,538
71,203
3,756,554
—
602,977
68,375,808
674,180
(14,949,772)
(389,512)
$_53,426 ,O36
284,668
26 (Continued)
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
Activity in the general fixed assets account group for the AEDC for the year ended September 30,
1999 follows:
Balance at Balance at
October 1, September 30,
1998(1) Additions Deletions 1999
Land 8 4,199,544 — (1,524,654) 2,674,890
Improvements other than
building 2,548,865 3,484,667 (339,395) 5,694,237
Machinery and equipment 59,002 5,381 — 64,383
Construction in progress 1,180,754 2,312,032 (3,484,667) 8,119
1_ 7,988,1655,802,080 5,348,616 8,441,629
(1) Balance of October 1, 1998 was restated to include the cost for 55 acres of land purchased in
May 1997 which was never reflected in the general fixed assets account group for the AEDC.
Activity in the general fixed asset group for the CDC for the year ended September 30, 1999
follows:
Balance at Balance at
October 1, September 30,
1998 Additions Deletions 1999
Land $ — 4,854,697 — 4,854,697
Buildings and
improvements 521,902 — — 521,902
Improvements other than
buildings 2,317,881 838,108 — 3,155,989
Machinery and equipment 32,600 621,941 — 654,541
Construction in progress — 1,040,157 (827,808) 212,349
8 2,872,383 7,354,903 827,808 9,399,478
(5) Long-term Debt
A summary of long-term debt transactions, including current portion, for the year ended
September 30, 1999 is as follows:
proprietary
General lone -term debt fund types AEDC CDC
Accrued General a.). on.
mmpenwted obligation Lea. Revenge Notes revenue
observes bond, payable hoods payable bonds
Amounts payable a
beginningofye.(1) $ 815,839 39,277,40D 28,122 9,791,532 4,941,673 5,225,000
Addams 204,878 13,521,849 — 12,545,000 — 5,125,000
Reductions — (2,145,000) (16,37D) (3,976,580) (1,959,677) (160,000)
Amounn payable
a end of year S 1,020,717 50,654,249 11,752 18,359,952 2,981,996 10,190,000
(1) General obligation bonds at the beginning of the year were restated to reflect the cumulative
accretion value on the 1992 G.O. Bonds not previously reflected.
27 (Continued)
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
Long-term debt at September 30, 1999 is composed of the following individual issues:
General Obligation Bonds:
$8,545,000 Series 1992 Bonds due in annual installments of $95,000 to
$100,000 Series 1966 Bonds due in annual installments of $5,000
$705,000 through June 1, 2012; interest at 3.25% to 6.4%
to $15,000 beginning November 1, 1995 through November 1,
$4,100,000 Series 1995 Bonds due in annual installments of $115,000
2004; interest at 5.75%
$ 65,000
$16,053,921 Series 1992 Bonds due in annual installments of $30,000
$12,545,000 Series 1999 Bonds due in annual installments of $330,000
to $2,135,000 through September 1, 2007; interest at 3% to 6.35%
14,759,249
$7,015,000 Series 1994 Bonds due in annual installments of $165,000
Unamortized Bond Discount
to $565,000 through September 1, 2015; interest at 5.5% to 8%
6,045,000
$7,100,000 Series 1996 Bonds due in annual installments of $130,000
$3,947,595 due in monthly principal and interest installments of $47,064
to $585,000 through September 1, 2016; interest at 5% to 7%
6,540,000
$10,000,000 Series 1998 Bonds due in annual installments of $95,000
will be adjusted based on the note agreement $
to $795,000 through September 1, 2018; interest at 4.5% to 6.5%
9,905,000
$13,340,000 Series 1999 Bonds due in annual installments of $320,000
to $1,055,000 through September 1, 2019; interest at 4.875% to
6.375%
13,340,000
$ 50,654,249
Lease Payable
$ 11,752
Revenue Bonds:
$8,545,000 Series 1992 Bonds due in annual installments of $95,000 to
$705,000 through June 1, 2012; interest at 3.25% to 6.4%
$ 2,455,000
$4,100,000 Series 1995 Bonds due in annual installments of $115,000
5,065,000
to $335,000 through June 1, 2015; interest at 5.125% to 7.125%
3,605,000
$12,545,000 Series 1999 Bonds due in annual installments of $330,000
5,125,000
to $950,000 through lune 1, 2019; interest at 3.55% to 5%
12,545,000
Unamortized Bond Discount
(245,048)
Notes Payable:
$ 182359,952
CDC
Sales Tax Revenue Bonds:
$5,350,000 Series 1997 Bonds due in annual installments of $125,000
to $435,000 through September 1, 2017; interest at 4.63% to 6.63% $
5,065,000
$5,125,000 Series 1999 Bonds due in annual installments of $55,000 to
$400,000 through September 1, 2019; interest at 4.5% to 6%
5,125,000
$
10,190,000
ABDC
Notes Payable:
$3,947,595 due in monthly principal and interest installments of $47,064
through May 1, 2013; interest at 7.75% through 2002 at which time rate
will be adjusted based on the note agreement $
2,981,996
28 (Continued)
I
'
CITY OF ALLEN, TEXAS
'
Notes to General Purpose Financial Statements
September 30, 1999
The annual requirements to amortize all debt outstanding as of September 30, 1999 are as follows:
General Sel.Tax
t
Years ending Obligation Leu, Revenue Not. Revenue
S,psember30 Bonds Payable Bonds Payable Bonds Tohl
'
2000 $ 5,541,217 12,262 1,859,299 569,765 866,517 8,840,060
2001 5,540,974 1,861,484 564,765 857,270 8,824,493
2002 5,533,014 1,854,609 564,765 860,776 8,813,164
2003 5,520,555 — 1,859,091 564,765 857,689 8,802,100
1
2004 5,499,702 — 1,857,806 564,765 848,339 8,770,612
Subsequent 49,636,228 17,890,879 1,023,512 11,913,930 80,464,549
Less applicable intent (26,617,441) (510) (8,578,168) (865,341) (6,014,521) (42,08,981)
Unamortl=d bond discount — (245,048) (295,1198)
Principal due $ 50,654,299 11753® 16,359,952 2,981,996 10,190,000 82,19],999
The annual requirements to amortize the $1,126,134 contract payable of the Water and Sewer
Enterprise Fund are not determinable due to the variable means of payment and are not included in
'
the above table (see note 9).
At September30, 1999, the City had $44,190,000 in General Obligation Bonds which were
'
authorized and unissued and $1,512,000 in revenue bonds.
(a) General Obligation Bonds
'
The City is required by ordinance to create from ad valorem tax revenues a sinking fund
sufficient to pay the current interest and principal installments as they become due. The Debt
Service Fund has $937,386 available to service the general obligation debt at September 30,
1999. There are a number of limitations and restrictions contained in the various general
'
obligation bond indentures. The City is in compliance with all significant limitations and
restrictions at September 30, 1999.
'
(b) Revenue Bonds
In 1999, the City issued $12,545,000 of waterworks and sewer system revenue refunding and
improvement bonds. A portion of the bonds were used to currently refund $3,285,000 of
'
Waterworks and Sewer System Revenue Refunding and Improvement Bonds, Series 1992.
This amount is being netted against the new debt amortized over the new debt's life. This
transaction resulted in an economic gain of $145,813 and a reduction of $179,394 in future
'
debt service payments.
The City is required by the applicable revenue bond indentures to pledge the net revenues of
'
the Water and Sewer Enterprise Fund for the retirement of its outstanding revenue bonds,
including interest thereon, and is required to maintain debt service funds and bond reserve
funds for all such bonds outstanding.
'
Funds aggregating $408,938 at September 30, 1999 are restricted within the Water and Sewer
Enterprise Fund for servicing of the debt. The respective bond indentures require the City to
make equal monthly payments to the restricted accounts to accumulate the annual principal
'
and interest requirements as they become due.
t29
(Continued)
(c)
CITY OF ALLEN,. TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
The ordinances authorizing the Revenue Bonds stipulate that the City will deposit, in addition
to principal and interest requirements, certain amounts in a reserve fwd. Amounts in the
reserve fund are to be used to pay principal and interest on outstanding bonds at any time
sufficient funds are not available 'in the bond interest and redemption Pond. The bond
indentures require that the City accumulate reserves to an amount equal to the average annual
principal and interest requirements of all outstanding bonds secured by the net revenues of the
system. Such reserves are funded up to the required level in equal monthly installments over a
maximum five-year period, as defined in the indentures. Amounts in the reserve fund at
September 30, 1999 of $945,000 are adequate to meet the reserve requirements.
At September 30, 1999 restricted assets, which include Revenue Bond Debt Service and
Reserve Funds, were as follows:
Revenue bond debt service $ 408,938
Revenue bond reserve fund 945,000
Utility deposits 681.281
$ 2,035,219
The amount of retained earnings reserved for revenue bond retirement is detailed as follows:
Restricted assets, revenue bond debt
Fund Type
service and reserve funds
$ 1,353,938
Less:
Accrued interest, payable from restricted assets
(305,179)
Current maturities of revenue bonds,
$ 11,752
payable from restricted assets
(945,000)
Reserved for revenue bond principal and interest
$ 103,759
The City is in compliance with the various requirements of the bond ordinances. This
covenant requires that operating revenues, as defined, cover the current debt requirement ,
including principal and interest by a minimum of 1.2 times. Such coverage at September 30,
1999 was 2.18 times.
Capital Leases '
The City has entered into agreements for the lease/purchase of various machinery and
equipment used by the City. The City recorded these capital leases as assets and the related '
obligations at the present value of the minimum lease payments which approximated the fair
value of the leased equipment.
The following is a schedule of future minimum lease payments under the capital leases '
together with the present value of the net minimum lease payments as of September 30, 1999:
Fiscal year 1999
Future minimum lease payments
Less amount representing interest
Present value of future minimum lease payments
30
Governmental
Fund Type
,
$ 11,752
12,262
510
,
$ 11,752
(Continued)
,
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
(6) Retirement Plan
The City provides pension benefits for all of its full-time employees through a nontraditional, joint
contributory, defined contribution plan in the state-wide Texas Municipal Retirement System
(TMRS), one of 700 administered by TMRS, an agent multiple -employer public employee
retirement system.
Benefits depend upon the sum of the employee's contributions to the plan, with interest, and the
City -financed monetary credits, with interest. At the date the plan began, the City granted monetary
credits for service rendered before the plan began of a theoretical amount equal to two times what
would have been contributed by the employee, with interest, prior to establishment of the plan.
Monetary credits for service since the plan began are a percent (100%, 150% or 200%) of the
employee's accumulated contributions. In addition, the City can grant as often as annually another
type of monetary credit referred to as an updated service credit, a theoretical amount which, when
added to the employee's accumulated contributions and the monetary credits for service since the
plan began, would be the total monetary credits and employee contributions accumulated with
interest if the current employee contribution rate and City matching percent had always been in
existence and if the employee's salary had always been the average of his salary in the last three
years that are one year before the effective date. At retirement, the benefit is calculated as if the sum
of the employce's accumulated contributions with interest and the employer -financed monetary
credits with interest were used to purchase an annuity.
Members can retire at ages 60 and above with ten or more years of service or with 20 yews of
service regardless of age. A member is vested after ten years. The plan provisions are adopted by
the City Council, within the options available in the state statutes governing TMRS and within the
actuarial constraints also in the statutes.
The pension plan does not issue separate reports on the pension plan. However, TMRS does issue a
publicly available report that includes financial statements and supplementary information for the
plan m a whole, but not for individual employers. That report can be obtained from Texas
Municipal Retirement System, 1200 North Interstate 35, Austin, Texas 75711-9153.
Contributions
The contribution rate for the employees is 7%, and the City matching percent is currently 2 to 1,
both as adopted by the City Council. Under the state law governing TMRS, the City contribution
rate is annually determined by an actuary. This rate consists of the normal cost contribution rate and
the prior service contribution rate, both of which are calculated to be a level percent of payroll from
year-to-year. The normal cost contribution rate finances the currently accruing monetary credits due
to the City matching percent, which are the obligation of the City as of an employee's retirement
date, not at the time the employee's contributions are made. The normal cost contribution rate is the
actuarially determined percent of payroll necessary to satisfy the obligation of the City to each
employee at the time his retirement becomes effective. The prior service contribution rate amortizes
the unfunded (overfunded) actuarial liability (asset) over the remainder of the plan's 25 -year
amortization period.
31 (Continued)
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
When the City annually adopts updated service credits and increases annuities in effect, the
increased unfunded actuarial liability is to be amortized over a new 25 -year period. Currently, the
unfunded actuarial liability is being amortized over the 25 -year period which began January 1997.
The unit credit actuarial cost method is used for determining the City contribution rate.
Contributions are made monthly by both the employees and the City. Since the City needs to know
its contribution rate in advance to budget for it, there is a one-year lag between the actuarial
valuation that is the basis for the rate and the calendar year when the rate goes into effect (i.e.,
December 31, 1997 valuation is effective for rates beginning January 1999).
Schedule of Actuarial Liabilities and Funding Progress
Actuarial valuation date
12/31/98
t
Actuarial value of assets
$
11,599,541
Actuarial accrued liability
$
15,473,031
Percentage funded
75.0%
'
Unfunded (overfunded) Actuarial Accrued Liability (UAAL)
$
3,873,490
Annual covered payroll
$
8,986,968
UAAL as a percentage of covered payroll
43.1%
,
Net Pension Obligation (NPO) at the beginning of period
$
—
Annual pension cost:
Annual Required Contribution (ARC) $1,040,079
t
Interest on NPO —
Adjustment to the ARC
Contributions made
Increase in NPO
$
1,040,079
—
'
NPO at the end of the period
$
—
Annual City TMR pension cost and related information for the last three
years is as follows:
'
1999 1998
1997
,
Annual required contribution
(ARC) $ 1,040,079 834,500
706,429
Actual contribution 1,040,079 834,500
706,429
,
Net pension obligation — —
—
Actuarial cost method Unit Credit Unit Credit
Unit Credit
Amortization method Level %of payroll Level %of payroll
Level %of payroll
Asset valuation method Market Market
Market
1
Amortization period 25 years 25 years
25 years
Actuarial assumptions:
Investment rate of return 8% 8%
8%
'
Inflation rate none none
none
Projected salary increases none none
none
COA adjustments none none
none
t
32
(Continued)
I
CITY OF ALLEN, TEXAS
' Notes to General Purpose Financial Statements
September 30, 1999
(7) Deferred Compensation
' As a result of legislative changes, all amounts of compensation deferred, all property and rights
purchased, and all income, property or rights are (until paid or made available to the employee or
other beneficiary) held in trust for the exclusive benefit of the participants and their beneficiaries,
whereas, prior to these legislative changes, these amounts were solely the property and rights of the
City subject only to the claims of the City's general creditors. As a result, at September 30, 1999,
the deferred compensation investments are no longer reported in the City's financial statements.
' (8) Water and Sewer Contracts
In 1972, the City entered into a forty -year contract with the North Texas Municipal Water District
(District) for the purchase of water. Under the terms of this contract, the City is obligated to make a
' minimum annual payment (adjusted annually) in return for a minimum volume of gallons of water
per year. During 1999, the cost of water purchased under this contract was $1,789,570.
In 1978, the City entered into a contract with the District for the transportation, treatment and
disposal of sanitary sewage and other waste. The contract will continue in force at least until all
bonds issued by the District pursuant to the contract have been paid in full and will remain in force
thereafter throughout the useful life of the District's sanitary sewer system. The contract requires
the City to pay varying amounts based on the costs associated with sewage transported and/or
treated and disposed of The cost includes the City's proportionate share of the District's operating
and maintenance expenses and related debt service costs. During 1999, the cost for transportation,
treatment and disposal of sewage and other wastes was $1,730,935.
(9) Contract Payable
The City entered into an agreement to repay Betz Corporation (Betz) for the cost of construction of
utilities required to service a factory outlet mall constructed by Fick Construction of the utilities
was completed in 1984 at a total cost of approximately $1,297,000. At September 30, 1999, the
recorded amount payable under this contract was $1,126,134. The obligation bore an interest rate of
12.5% through 1987 when it converted to a variable rate of prime plus 2%. Interest accrued on
outstanding principal plus unpaid interest until June 17, 1991, at which time no further interest
accrued on the remaining outstanding obligation. The City will repay this obligation out of Water
and Sewer Enterprise Fund operations in an amount not to exceed (1) all connection fees paid by
developers to the City for connecting with the aforementioned utilities and (2) future sales taxes
collected by the City from the operations of the mall which commenced operations during 1984.
The aforementioned utilities and incremental sales taxes have been pledged as security on the
agreement.
The mall ceased operations during fiscal 1988 and, since fiscal year 1988, no developers have
connected with the aforementioned utilities. In the absence of revenue streams mentioned in (1) and
(2) above, no payment on the obligation is currently due and interest ceased to accrue after June 17,
1991 as described above.
33 (Continued)
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
(10) Segment Disclosure
The City maintains five Enterprise Funds. The Water and Sewer Fund accounts for water and
wastewater treatment service to the City. The Solid Waste Fund accounts for the collection and
disposal of refuse. The Development Fees Fund accounts for completion of development in new
subdivisions. The Drainage Fund accounts for the City's storm water management program. The
Parks and Recreation Fund accounts for the City's recreational facilities. Key financial information
as of and for the year ended September 30, 1999 for these funds is found below:
Operating revenues
Operating expenses (excluding
depreciation)
Depreciation and amodizmion
Operating income (loss)
Operating trensfees in
Operating transfers out
Net income (loss)
Current malls
Current liabilities
Networking capital
Total assels
Current capital -contributions
Net property, plant and
equipment
Plant, property and equipment -
additions
Bonds and other lung4erm
liabilities -payable from
operating revenues
Tom[ equity
Water
solid
Dev,Iimmrnt
NO. and
and sewer
waste
Fen
Drainage
Recreation
Fund
Fund
Fund
Fund
Fund
Total
5 9,376,457
1,786,007
-
635,807
431,676
12,229,947
6,077,421
1,675,581
-
289,358
395,M5
8,437,805
1,604,886
-
224,887
32,402
9,893
1,872,068
1,694,150
110,426
(224,887)
314,047
26,338
1,920,074
129,397
-
-
-
45,000
174,397
(1,181,427)
(71,443)
-
(159,281)
-
(1,412,151)
372,427
49,800
(128,304)
186,536
81,567
562,026
18,274,840
438,872
2,455,843
635,034
234,436
22,039,025
4,640,172
126,772
115,288
23,043
33,918
4,939,193
13,634,668
312,100
2,330,555
611,991
200,518
17,099,832
69,413,478
438,872
4,543,638
849,005
276,067
75,521,061
4,992,669
-
1,089,656
-
-
6,082,325
51,082,638
-
2,087,795
213,98
41,631
53,426,036
4,003,318
-
653,908
98,725
18,783
4,774,734
18,359,952 - - -
8 45,496,088 312,100 4,428J50 825,963
- 18,359,952
242,149 51,304,650
(11) Insurance and Risk Management
The City participates in the Texas Municipal League Joint Self -Insurance Fund (TMLIF) to provide
general liability, workers' compensation claims and property insurance. The City, along with other
participating entities, contributes annual amounts determined by TMLIF management. As claims
arise they are submitted to and paid by TMLIF. The City has a self-insured retention for property
and liability of $10,000 per occurrence. Any claims over the self-insured retention are covered by
TMLIF. During 1999, the City contributed $265,441 to the fund for property, general liability, and
workers comp.
There were no significant reductions in insurance coverage from the prior year. There have been no
claim settlements in excess of insurance coverage in the last four years.
34 (Continued)
CITY OF ALLEN, TEXAS
Notes to General Purpose Financial Statements
September 30, 1999
(12) Interfund Operating and Residual Equity Transfers
Individual fund operating transfers for fiscal year 1999 were as follows:
Primary Component
Government Unit
Transfer Transfer Transfer
Fund In Out Out
General Fund:
Water and Sewer Fund
Waste Fond
Drainage Fund
Community Development Fund (component unit)
Economic Development Fund (component unit)
Vehicle Replacement Fund
City Hall Fund
Special Revenue Fund:
Parks and Recreation Fund
Capital Projects Fund
Allen Arts Alliance Fund (component unit)
Capital Projects Fund:
Pro Rata Fund
Fire Station Fund
Street Improvements Fund
Public Safety Fund
City Hall Fund:
Special Revenue Fund
General Fund
Drainage Fund
Water and Sewer
Enterprise Fund:
Water and Sewer Fund:
General Fund
Solid Waste Fund
Vehicle Replacement Fund
City Hall Fund
Drainage Fund
Solid Waste Fund:
General Fund
Water and Sewer Fund
Drainage Fund:
General Fund
Vehicle Replacement Fund
Water and Sewer Fund
City Hall Fund
$ 959,321
66,041 -
16,019
- -
33,869
36,000
- -
24,000
- -
-
356,797 -
-
752,313 -
-
15,000 -
-
92,848 -
140,000
- -
156,100
22,734
76,100
- 140,000 -
92,848 - -
752,313 - -
100,000 - -
182,209 - -
66,041 959,321 -
55,424 - -
- 39,898 -
- 182,209 -
7,932 - -
- 16,019 -
- 55,424 -
- 33,869 -
- 17,480 -
- 7,932 -
- 100,000 -
35 (Continued)
Drainage Fund:
General Fund
(13) Contingent Liabilities
14,652
$ 14,652 14,652
Amounts received or receivable from grant agencies are subject to audit and adjustment by grantor
agencies, principally the federal government. Any disallowed claims, including amounts already
collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures
which may be disallowed by the grantor cannot be determined at this time although the City expects
such amounts, if any, to be immaterial.
The City is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently
determinable, it is the opinion of the City's counsel that resolution of these matters will not have a
material adverse effect on the financial condition of the City.
36 (Continued)
if
CITY OF ALLEN, TEXAS
'
Notes to General Purpose Financial Statements
t
September 30, 1999
Primary
Component
'
Government
Unit
Transfer Transfer
Transfer
Fund In Out
Out
'
Parks and Recreation Fund:
Special Revenue $ 15,000
Community Development Fund (component unit) 30,000 —
—
'
Parks and Dedication Trust Fund:
Community Development Fund (component unit) 25,000 —
—
Vehicle Replacement Fund:
'
General Fund 356,797 —
—
Water and Sewer Fund 39,898 —
—
Vehicle Replacement Fund 17,480 —
—
'
Community Development Fund (component unit):
General Fund — —
36,000
Parks and Recreation Fund — —
30,000
,
Special Revenue Fund — —
140,000
Parks Dedication Trust Fund
25,100
Economic Development Fund (component unit):
'
General Fund
24,000
$ 2,950,251 2,695,151
255,100
fund for fiscal 1999 follows:
'
Individual residual equity transfers year were as
Transfer
Transfer
Fund to
Out
'
General Fund:
Drainage Fund $ 14,652
—
Drainage Fund:
General Fund
(13) Contingent Liabilities
14,652
$ 14,652 14,652
Amounts received or receivable from grant agencies are subject to audit and adjustment by grantor
agencies, principally the federal government. Any disallowed claims, including amounts already
collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures
which may be disallowed by the grantor cannot be determined at this time although the City expects
such amounts, if any, to be immaterial.
The City is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently
determinable, it is the opinion of the City's counsel that resolution of these matters will not have a
material adverse effect on the financial condition of the City.
36 (Continued)
if
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Schedule2
CITY OF ALLEN, TEXAS
Required Supplementary Information
Year 2000 Issues
(Unaudited)
The City of Allen, Texas is in the process of Y2K readiness program with the objective of having all
systems compliant by December 31, 1999.
As of September 30, 1999 we are still in our remediation or replacement phase of computer systems, or
embedded chip systems. The City has set a priority to remediate or replace mission critical systems and
public safety equipment that have failed Y2K testing with all other systems falling behind these items.
The City is also preparing a Y2K Contingency Plan for January 1, 2000 and is confident that all the phases
of this project will be completed by December 1, 1999.
As of December 22, 1999 the City had completed all Y2K testing and Contingency Planning and was fully
Y2K compliant as of that time.
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$13,340,000 - AMBAC INSURED
CITY OF ALLEN, TEXAS
GENERAL OBLIGATION BONDS, SERIES 1999
Debt Service Schedule
Date Principal Capon Interest Period Total Fiscal Total
9/ l/ 0 320,000.00 6.375000 775,364.69 1,095,364.69 1,095,364.69
9/ 1/ 1 400,000.00 6.375000 695,321.25 1,095,321.25 1,095,321.25
9/ 1/ 2 425,000.00 6.375000 669,821.25 1,094,821.25 1,094,821.25
9/ 1/ 3 450,000.00 6.375000 642,727.50 1,092,727.50 1,092,727.50
9/ 1/ 4 475,000.00 6.375000 614,040.00 1,DB9,040.00 1,089,040.00
9/ 1/ 5 505,000.00 6.375000 583,758.75 1,088,758.75 1,088,758.75
9/ 1/ 6 535,000.00 6.375000 551,565.00 1,086,565.00 1,086,565.00
9/ 1/ 7 565,000.00 6.200000 517,458.75 1,082,458.75 1,082,458.75
9/ 1/ 8 600,000.00 4.875000 482,428.75 1,082,428.75 1,082,428.75
9/ 1/ 9 630,000.00 4.875000 453,178.75 1,083,178.75 1,083,178.75
9/ 1/10 665,000.00 4.875000 422,466.25 1,087,466.25 1,087,466.25
9/ 1/11 695,000.00 4.900000 390,047.50 1,085,047.50 1,085,047.50
9/ 1/12 735,000.00 4.950000 355,992.50 1,090,992.50 1,090,992.50
9/ 1/13 770,000.00 5.000000 319,610.00 1,089,610.00 1,089,610.00
9/ 1/14 810,000.00 5.050000 281,110.00 1,091,110.00 1,091,110.00
9/ 1/15 855,000.00 5.100000 240,205.00 1,095,205.00 1,095,205.00
9/ 1/16 900,DOO.00 5.150000 196,600.00 1,096,600.OD 1,096,600.00
9/ 1/17 950,000.00 5.000000 150,250.00 1,100,250.00 1,100,250.00
9/ 1/18 1,000,000.00 5.000000 102,750.00 1,102,750.00 1,102,750.00
9/ 1/19 110551000.00 5.000000 52,750.00 1,107,750.00 1,107,750.00
-------------- ___.......--- --------.-----
13,340,000.00 8,497,445.94 21,837,445.94
ACCRUED 31,809.83 31,809.83
13,340,000.00 8,465,636.11 21,805,636.11
Dated 8/ 1/99 with Delivery of 8/17/99
Bad Years 164,996.667
Average Capon 5.150071
Average Life 12.368566
B I C % 5.150071 % using IDO.000OOOD
Band Insurance:
0.203778 X of (Total Debt Service Only) = 44,500.00
Prepared by Southwest Securities
Micro -Muni Debt Date: 02-24-2000 8 09:49:39 Filename: ALLEN Key: 99GOFINAL
PROPOSED $11,100,000
CITY OF ALLEN, TEXAS
GENERAL OBLIGATION BONDS, SERIES 2000
Coffbined Debt Service
Dated 5/ 1/ 0 with Delivery of 5/ 9/ 0
Bond Years 142,730.000
Average Capon 5.750000
Average Life 12.858559
N I C % 5.750000 % Usin 100.0000000
Prepared by Southwest Securities
Micro -Muni Debt Date: 03-09-2000 8 08:58:42 Filename: ALLEN Key: DOGOPOS
Period
Fiscal
Prior
Combined
Date
primipsl
Coupon
Interest
Total
Total
Debt Service
Fiscal Total
9/
1/ 1
115,000.00
5.750000
651,000.00
966,000.00
966,000.00
5,540,973.75
6,506,973.75
9/
1/ 2
335,000.00
5.750000
631,637.50
966,637.50
966,637.50
5,533,013.75
6,499,651.25
9/
1/ 3
355,000.00
5.750000
612,375.00
967,375.00
967,375.00
5,520,555.00
6,487,930.00
9/
1/ 4
375,000.00
5.750000
591,962.50
966,%2.50
966,962.50
5,499,702.50
6,466,665.00
9/
1/ 5
395,000.00
5.750000
570,400.00
965,400.00
965,400.00
5,480,940.00
6,446,340.00
9/
1/ 6
415,000.00
5.750000
547,687.50
962,687.50
962,687.50
5,472,672.50
6,435,360.00
9/
1/ 7
440,000.00
5.750000
523,825.00
963,825.00
963,825.00
5,326,853.75
6,290,678.75
9/
1/ 8
465,000.00
5.750000
498,525.00
963,525.00
963,525.00
3,068,758.75
4,032,253.75
9/
1/ 9
495,000.00
5.750000
471,787.50
966,787.50
966,787.50
3,076,028.75
4,042,816.25
9/
1/10
520,000.00
5.750000
443,325.00
963,325.00
963,325.00
3,086,816.25
4,052,141.25
9/
1/11
550,000.00
5.750000
413,425.00
963,425.00
%3,425.00
3,0%,537.50
4,053,962.50
9/
1/12
585,000.00
5.750000
381,800.00
966,800.00
966,800.00
3,108,367.50
4,075,167.50
9/
1/13
615,000.00
5.750000
348,162.50
963,162.50
963,162.50
3,113,360.00
4,076,522.50
9/
1/14
655,000.00
5.750000
312,800.00
967,800.00
967,800.00
3,119,360.00
4,087,160.00
9/
1/15
690,000.00
5.750000
275,137.50
%5,137.50
965,137.50
3,128,105.00
4,093,242.50
9/
1/16
730,000.00
5.750000
235,462.50
%5,462.50
965,462.50
2,539,100.00
3,504,562.50
9/
1/17
770,000.00
5.750000
193,487.50
963,487.50
963,487.50
1,932,750.00
2,896,237.50
9/
1/18
815,000.00
5.750000
149,212.50
964,212.50
964,212.50
1,937,500.00
2,901,712.50
9/
1/19
865,000.00
5.750000
102,350.00
967,350.00
967,350.00
1,107,750.00
2,075,100.00
9/
1/20
915,000.00
5.750000
52,612.50
%7,612.50
%7,612.50
..............
%7,612.50
_.------------
..............
11,100,DDO.DD
..............
8,206,975.00
.......... .---
19,306,975.00
70,685,145.00
89,992,120.00
ACCRUED
14,183.33
14,183.33
14,183.33
11,100,000.00
8,192,791.67
19,292,791.67
70,685,145.00
89,977,936.67
Dated 5/ 1/ 0 with Delivery of 5/ 9/ 0
Bond Years 142,730.000
Average Capon 5.750000
Average Life 12.858559
N I C % 5.750000 % Usin 100.0000000
Prepared by Southwest Securities
Micro -Muni Debt Date: 03-09-2000 8 08:58:42 Filename: ALLEN Key: DOGOPOS
PROPOSED $13,440,000
CITY OF ALLEN, TERAS
GENERAL OBLIGATION BONDS, SERIES 2001
Debt Service Schedule
Date Principal coupon Interest Period Total Fiscal Total
9/ 1/ 2 365,000.00 6.000000 806,400.00 1,171,400.00 1,171,400.00
9/ 1/ 3 385,000.00 6.000000 784,500.00 1,169,500.00 1,169,500.00
9/ 1/ 4 410,000.00 6.000000 761,400.00 1,171,400.00 1,171, 400. GO
9/ 1/ 5 435,000.00 6.000000 736,800.00 1,171,80D.00 1,171,810.00
9/ 1/ 6 460,000.00 6.000000 710,700.00 1,170,700.00 1,170,700.00
9/ 1/ 7 490,000.00 6.000000 683,100.00 1,173,100.00 1,173,100.00
9/ 1/ 8 520,000.00 6.000000 653,700.00 1,173,700.00 1,1n 700.00
9/ 1/ 9 550,000.00 6.000000 622,500.00 1,172,500.00 1,172,500.00
9/ 1/1D 580,000.00 6.DDD000 589,500.00 1,169,500.00 1,169,500.00
9/ 1/11 615,000.00 6.000000 554,700.00 1,169,700.00 1,169,700.00
9/ 1/12 655,000.00 6.000000 517,800.00 1,172,800.00 1,1n 800.00
9/ 1/13 695,000.00 6.000000 478,500.00 1,173,500.00 1,173,500.00
9/ 1/14 735,000.00 6.000000 436,800.00 1,171,800.00 1,171,800.00
9/ 1/15 780,000.00 6.000000 392,700.00 1,172,700.00 1,172,700.00
9/ 1/16 825,000.00 6.000000 345,900.00 1,170,900.00 1,170,900.00
9/ 1/17 875,000.00 6.000000 296,400.00 1,171,400.00 1,171,400.00
9/ 1/18 930,000.00 6.000000 243,900.00 1,173,900.00 1,173,900.00
9/ 1/19 985,000.00 6.000000 188,100.00 1,173,100.00 1,173,100.00
9/ 1/20 1,045,000.00 6.000000 129,000.00 1,174,000.00 1,174,000.00
9/ 1/21 1,105,000.00 6.000000 66,300.00 1,171,30D.00 1,171,300.00
13,440,000.00 9,998,700.00 23,438,700.00
ACCRUED
13,440,000.00 9,998,700.00 23,438,700.00
Dated 9/ 1/ 1 with Delivery of 9/ 1/ 1
Band Years 166,645.000
Average Coupon 6.000000
Average Life 12.399182
N 1 C % 6.000000 % Using 100.0000000
Prepared by Southwest Securities
Micro -Muni Debt Date: 02-24-2000 B 09:50:49 Filename: ALLEN Key: OIGO
PROPOSED $10,705,000
CITY OF ALLEN, TEXAS
GENERAL OBLIGATION BONDS, SERIES 20D2
Debt Service�Schedule
Date Principal Coupon Interest Period Total Fiaod Total
9/ 1/ 3 285,000.00 6.250000 669,062.50 954,062.50 954,062.50
9/ 1/ 4 300,000.00 6.250000 651,250.00 951,250.00 951,250.00
9/ 1/ 5 320,000.00 6.250000 632,500.00 952,500.00 952,500.0
9/ 1/ 6 340,000.00 6.250000 612,500.00 952,500.00 952,500.0
9/ 1/ 7 360,000.00 6.250000 591,250.00 951,250.00 951,250.00
9/ 1/ 8 385,000.00 6.250000 568,750.00 953,750.00 953,750.00
9/ 1/ 9 405,000.00 6.250000 544,687.50 949,687.50 949,687.50
9/ 1/10 435,000.00 6.250000 519,375.00 954,375.00 954,375.00
9/ 1/11 460,000.00 6.250000 492,187.50 952,187.50 952,187.50
9/ 1/12 490,000.00 6.250000 463,437.50 953,437.50 953,437.50
9/ 1/13 520,000.00 6.250000 432,812.50 952,812.50 952,812.50
9/ 1/14 550,000.00 6.250000 400,312.50 950,312.50 950,312.50
9/ 1/15 585,000.00 6.250000 365,937.50 950,937.50 950,937.50
9/ 1/16 625,000.00 6.250000 329,375.00 934,375.00 954,375.00
9/ 1/17 660,000.00 6.250000 290,312.50 950,312.50 950,312.50
9/ 1/18 705,000.00 6.250000 249,062.50 954,062.50 954,062.50
9/ 1/19 745, GD0.00 6.250000 205,000.00 950,000.00 950,000.00
9/ 1/20 795,000.00 6.250000 158,437.50 953,437.50 953,437.50
9/ 1/21 845,000.00 6.250000 108,750.00 953,750.00 953,750.00
9/ 1/22 895,000.00 6.250000 55,937.50 950,937.50 950,937.50
..............
10,705,000.00 8,340,937.50 19,045,937.50
ACCRUED
10,705,000.00 8,340,937.50 19,045,937.50
Dated 9/ 1/ 2 with Delivery of 9/ 1/ 2
Bond Years 133,455.000
Average Coupon 6.250000
Average Life 12.466604
N I C % 6.250000 % Using 100.0000000
Prepared by Southwest Securities
Micro -Muni Debt Date: 03-01-2000 8 13:45:50 Manage: ALLEN Key: 02G0
PROPOSED $6,550,000
CITY OF ALLEN, TENONS
GENERAL OBLIGATION BONDS, SERIES 2003
Date Principal
9/ 1/ 4 175,000.00
9/ 1/ 5 185,000.00
9/ 1/ 6 195,000.00
9/ 1/ 7 21D,OOO.W
9/ 1/ 8 220,000.00
9/ 1/ 9 235,000.00
9/ 1/10 250,000.00
9/ 1/11 265,000.00
9/ 1/12 280,000.00
9/ 1/13 300,000.00
9/ 1/14 320,000.00
9/ 1/15 335,000.00
9/ 1/16 360,000.00
9/ 1/17 380,000.00
9/ 1/18 405,000.00
9/ 1/19 430,000.00
9/ 1/20 455,000.00
9/ 1/21 485,000.00
9/ 1/22 515,000.00
9/ 1/23 550,000.00
6,550,000.00
ACCRUED
6,550,000.00
Debt Service Schedule
Coupon Interest Period Total Fiscal Total
6.250000 409,375.00 584,375.00 584,375.00
6.250000 398,437.50 583,437.50 583,437.50
6.250000 386,875.00 581,875.00 581,875.00
6.25W00 374,687.50 584,687.50 584,687.50
6.2500DD 361,562.50 581,562.50 581,562.50
6.250000 347,812.50 582,812.50 582,812.50
6.250000 333,125.00 583,125.00 583,125.00
6.250000 317,500.00 582,500.00 582,500.00
6.250000 300,937.50 580,937.50 580,937.50
6.250000 283,437.50 583,437.50 583,437.50
6.250000 264,687.50 584,687.50 584,687.50
6.250000 244,687.50 579,687.50 579,687.50
6.250000 223,750.00 583,750.00 583,750.00
6.250000 201,250.00 581,250.00 581,250.00
6.250WD 177,500.00 582,500.00 582,500.00
6.250000 152,187.50 582,187.50 582,187.50
6.250000 125,312.50 500,312.50 580,312.50
6.250000 96,875.00 581,875.00 581,875.00
6.250000 66,562.50 581,562.50 581,562.50
6.250000 34,375.00 584,375.00 584,375.00
............................
5,100,937.50 11,650,937.50
5,100,937.50 11,650,937.50
Dated 9/ 1/ 3 Nith Delivery of 9/ 1/ 3
Bond Years 81,615.000
Average Coupon 6.250000
Average Life 12.460305
N I C X 6.250000 % Using 100.0000000
Prepared by SouthNest Securities
Micro -hunt Debt Date: 03-01-2000 B 13:46:21 Filename: ALLEN Key: 0360
1
1
1
1
1 FINANCIAL STATEMENTS
1 OF INDIVIDUAL FUNDS
1
1
1
1
1
1
1
1
1
1
1
1
1
COMBINING, INDWIDUAL FUND AND
ACCOUNT GROUP FINANCIAL STATEMENTS
AND SCHEDULES
39
CITY OF ALLEN
40
I
I
GENERALFUND
The General Fund is used to account for resources associated with traditional governmental functions
' which are not required to be accounted for in another fund.
1
1
1
1
1
1
41
CITY OF ALLEN, TEXAS
General Fund
Comparative Balance Sheets
September 30, 1999
(With comparative totals for the year ended September 30, 1998)
Cash and cash equivalents
Investments
Receivables:
Property taxes, net
Sales tax
Accrued interest
Other
Total assets
Liabilities and Fund Balance
Liabilities:
Accounts payable
Accrued liabilities
Deferred revenue
Total liabilities
Fund balance:
Unreserved - undesignated
Total liabilities and fund balance
42
Exhibit B-1
1999
1998
$ 1,000,304
1,948,992
3,367,671
2,233,991
51,801
60,640
710,905
643,263
30,026
23,199
1,084,697
135,598
$ 6,245,404
5,045,683
$ 1,237,102
1,117,565
378,647
325,728
51,801
60,640
1,667,550
1,503,933
4,577,854 3,541,750
$ 6,245,404 5,045,683
Exhibit B-2
CITY OF ALLEN, TEXAS
General Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
For the year ended September 30, 1999
( With comparative totals for the year ended September 30, 1998)
43
1999
1998
Variance -
favorable
Budget
Actual
(unfavorable)
Actual
Revenues:
Ad valorem tax 8
6,749,211
6,886,564
137,353
5,662,292
Franchise fees
1,748,467
1,852,246
103,779
1,640,527
Sales tax
3,597,361
3,597,647
286
2,997,617
Licenses and permits
1,902,136
2,006,937
104,801
1,842,603
Charges for service
364,857
358,597
(6,260)
286,941
Fines
586,552
671,934
85,382
465,756
Interest
145,000
179,315
34,315
251,467
Other
568,334
520,295
(48,039)
257,371
Total revenues
15,661,918
16,073,535
411,617
13,404,574
Expenditures:
Current:
General Government
2,687,362
2,640,755
46,607
2,126,443
Public Safety
8,151,911
8,006,330
145,581
6,911,125
Public Works
810,030
750,725
59,305
654,562
Culture and recreation
3,032,033
2,913,149
118,884
2,541,508
Community development
879,514
618,812
260,702
748,510
Debt service - principal
16,370
16,370
17,980
Total expenditures
15,577,220
14,946,141
631,079
13,000,128
Excess ofrevenues over expenditures
84,698
1,127,394
1,042,696
404,446
Other financing sources (uses):
Lease proceeds
-
-
-
32,127
Operating bursters in
996,910
1,009,209
12,299
675,622
Operating transfer in -
component units
60,000
60,000
-
48,000
Operating bansf. out
(934,110)
(1,175,151)
(241,041)
(362,116)
Total other financing sources (uses)
122,800
(105,942)
(228,742)
393,633
Excess of revenues and other sources
over expenditures and other uses
207,498
1,021,452
813,954
798,079
Fund balance, beginning ofyear
3,541,750
3,541,750
-
2,743,671
Residual equity transfers
14,652
14,652
Fund balance, end ofyear S
3,749,248
4,577,854
828,606
3,541,750
43
CITY OF ALLEN
44
SPECIAL REVENUE FUNDS
The Special Revenue Funds account for the proceeds of specific revenue sources (other than expendable
trust or major capital projects) that are legally restricted to expenditures for specific purposes.
Capital Improvement Fund - To account for funds received and expended for capital items for the City.
Hotel Occupancy Tax Fund - To account for funds received from hotel occupancy tax and expend as
allowed by state law.
Cable Television Fund - To account for funds received that are to be expended to improve the City's
cable television channel.
Asset Forfeiture Fund - To account for activities associated with assets legally seized and forfeited.
Civic Plaza Fund - To account for contributions given to the City to be expended on a Civic Plaza.
Law Enforcement Education Grant - To account for funds received that are to be expended for specific
law enforcement training purposes.
Rose/Sheltou Estate Fund - To account for specific use of funds received from the Viola Rose and
Minnie Rose Shelton estates.
Allen Arts Fund - To account for funds received and expended to promote, nurture and support the arts in
Allen.
Facilities Agreement Fund - To account for funds received from builders and developers used on specific
facility agreements such as neighborhood parks, paving and assessments in new developments.
45
CITY OF ALLEN TEXAS
Combining Balance Sheet - Special Revenue Funds
September 30, 1999
(With comparative totals for September 30, 1998)
46
Hotel
Capnal
oecepancy
Cable
Anel
Aaveb
Improvement
ba
hlevisloo
forfeimrc
Civic plea
Cash and cash equivalents
5
6,230
17,546
1,978
6,006
155,954
Investments
391,037
36,000
—
—
3,623
Accrued interest receivable
5,411
392
—
—
40
Olber accomis receivable
Total assets
f
402,678
53,938
1,978
6,006
159,617
Liabilities end Fund Bal.at.
Liabilities:
Acmunts payable
5
—
4,137
—
750
—
Retsinagepayable
—
—
—
—
—
Mferred menue
Total liabilities
4,137
750
Fund balances.
Unreserved - undesignated
402,678
49,801
1,978
5,256
159,617
Total liabilities
and fund balances
5
402,678
53,938
1,978
6,006
159,617
46
Exhibit C-1
Lew
enforcement
Rose/Sbelton
Allen
FaciliBa
Total.
grant
estate
nM
agreements
1999
1998
776
28,155
59,129
1,181,627
1,457,401
1,518,050
—
—
—
2,683,852
3,114,512
1,061,519
—
—
—
29,771
35,614
4,214
—
12,000
776
28,155
59,129
3,895,250
4,607,527
2,595,783
—
—
639
100,206
105,732
15,238
—
—
5,670
—
5,670
-
-
2,42D,877
2,420,877
765,097
6,309
2,521,083
2,532,279
780,335
776
28,155
52,820
1,374,167
2,075,248
1,815,448
776
28,155
59,129
3,895,250
4,607,527
2,595,783
47
CITY OF ALLEN, TEXAS
Combining Statements of Revenues, Expenditures
and Changes in Fund Balances - Special Revenue Funds
September 30, 1999
(With comparative totals for the year ended September 30, 1998)
Hotel
48
Capital
oeculmney
Cable
Amet
Civic
improvement
rex
television
forfeiture
pie.
Revenues:
Hotellmotel texas
$ -
45,873
-
-
-
Gifts and contributions
-
-
-
-
-
Interest
13,484
1,535
3,228
51
7,745
Charges for services
-
-
-
-
bisection.
120,629
-
2,331
-
Total revenues
134,113
47,408
3,228
2,382
7,745
Expenditures:
public Works
-
16,136
-
1,312
-
Capitol Outlay
-
-
-
-
-
Totalexpcndduses
16,136
-
1,312
-
Excesa(deficiency)ofrevenues
over o,.t..a
134,113
31,28
3,228
1,070
7,745
Other financing sources (uses)'
Operating transfers in from
component unit
-
-
-
-
-
Ope®ting transfers out
-
(15,000)
(92,848)
-
-
Tolal other financing
.are.(uses)
(15,000)
(92,948)
-
-
Excess(deficiency)ofmcnucs
and other sources over
expenditures and other uses
134,113
16,272
(89,620)
1,070
7,745
Fund balances, beginning ofycm
268,565
33,529
91,598
4,186
151,672
Residual equity transfer
-
-
-
-
-
Fund balusters, end ofyew
s 402,678
49,801
1,978
5,256
159,617
48
Exhibit C-2
Lew
enforcement
Ron Shelton
Allen
F.6flotn
Totab
grant
.nate
arta
agreements
1999
1998
-
-
-
-
45,873
44,645
-
-
-
254,693
254,693
685,217
-
1,939
317
124,447
152,746
97,171
-
-
-
-
-
79
-
(3,639)
13,890
133,211
202,454
-
1,939
(3,322)
393,030
586,523
1,029,566
-
-
86,734
-
104,182
20,517
-
254,693
254,693
678,761
-
86,734
254,693
358,875
699,278
-
1,939
(90,056)
138,337
227,648
330288
-
-
140,000
-
140,000
-
-
-
(1071848)
(801,201)
-
-
140,000
32,152
(801,201)
-
1,939
49,944
138,337
259,800
(470,913)
776
26,216
2,876
1,235,830
1,815,448
2,313,069
-
-
(26,708)
776
28,155
52,820
1,374,167
2,075,248
1,815,448
E, 1411
CITY OF ALLEN
50
I
I
DEBT SERVICE FUND
The Debt Service Fund is used to account for the accumulation of resources for and the payment of general
' obligation bond principal and interest from governmental resources.
1
1
1
1
1
1
51
CITY OF ALLEN, TEXAS
Debt Service Fund
Comparative Balance Sheet
September30, 1999
(With comparative totals for September 30, 1998)
Assets
Cash and cash equivalents
Investments
Accrued interest receivable
Total assets
Liabilities and Fund Balance
Fund balance - reserved for debt service
Total liabilities and fund balance
52
Exhibit D-1 '
1999
Mill
$ 51,457
369,253
874,022
642,268
11,907
6,173
$ 937,386
1,017,694
$ 937,386
1,017,694
$ 937,386
1,017,694
CITY OF ALLEN, TEXAS
Debt Service Fund
Comparative Statements of Revenues, Expenditures
and Changes in Fund Balances
For the fiscal years ended September 30, 1999 and 1998
Revenues:
Ad valorem tax
Interest
Total revenues
Expenditures:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess of revenues over
expenditures
Fund balance, beginning of year
Fund balance, end of year
53
Exhibit D-2
1999 1998
$ 4,224,799
3,631,570
146,579
172,513
4,371,378
3,804,083
2,145,000
1,910,000
2,306,686
1,715,075
4,451,686
3,625,075
(80,308)
179,008
1,017,694
838,686
$ 937,386
1,017,694
Exhibit D-3
CITY OF ALLEN, TEXAS
Debt Service Fund
Comparative Statements of Revenues, Expenditures
and Changes in Fund Balances - Budget and Actual
Year ended September 30, 1999
( With comparative totals for the year ended September 30, 1998)
54
M
Favorable
Budget
Actual
(unfavorable)
1998
Revenues:
Ad valorem tax $
4,206,825
4,224,799
17,974
3,631,570
Interest
103,740
146,579
42,839
172,513
Total revenues
4,310,565
4,371,378
60,813
3,804,083
Expenditures:
Principal retirement
2,145,000
2,145,000
—
1,910,000
Interest and fiscal charges
2,308,434
2,3069686
1,748
1,715,075
Total expenditures
4,453,434
4,451,686
1,748
3,625,075
Excess of revenues over
expenditures
(142,869)
(80,308)
62,561
179,008
Fund balance, beginning of year
1,017,694
1,017,694
—
838,686
Fund balance, end of year $
874,825
937,386
62,561
1,017,694
54
M
1 Street Improvements Fund - To account for the financing and construction of improvements to and the
extension of the City's streets. The construction is financed primarily by the proceeds of general
obligation bonds and interest on investments.
Park Improvements Fund - To account for the financing of and improvements and enlargements of the
City's parks. These improvements and enlargements are funded by general obligation bond proceeds, state
' grants and interest on investments.
Public Safety Fund - To account for the financing and purchase of public safety equipment. The
' proceeds of general obligation bonds and interest on investments are used to finance the improvements.
City Hall Fund - To account for the financing, construction and furnishing of the new city hall with the
' proceeds of general obligation bonds and interest on investments.
Library Fund - To account for the financing, construction and furnishing of library facilities with the
ProRata Fund — To account for funds received and later expended for the construction of streetlights,
irrigation items
1
and other of this nature.
CAPITAL PROJECTS FUNDS
'
improvements the City performed which increased their property value.
The Capital Projects Funds account for all resources used for the acquisition and/or construction of capital
'
facilities by the City, except those financed by proprietary and trust funds.
Capital Projects Fund — To account for resources used for the acquisition and/or construction of capital
1
facilities by the City, except those financed by proprietary and trust funds and not accounted for by the
'
other capital project funds.
1 Street Improvements Fund - To account for the financing and construction of improvements to and the
extension of the City's streets. The construction is financed primarily by the proceeds of general
obligation bonds and interest on investments.
Park Improvements Fund - To account for the financing of and improvements and enlargements of the
City's parks. These improvements and enlargements are funded by general obligation bond proceeds, state
' grants and interest on investments.
Public Safety Fund - To account for the financing and purchase of public safety equipment. The
' proceeds of general obligation bonds and interest on investments are used to finance the improvements.
City Hall Fund - To account for the financing, construction and furnishing of the new city hall with the
' proceeds of general obligation bonds and interest on investments.
Library Fund - To account for the financing, construction and furnishing of library facilities with the
ProRata Fund — To account for funds received and later expended for the construction of streetlights,
irrigation items
'
and other of this nature.
Special Assessment Fund - To account for funds received from property owners who were assessed for
'
improvements the City performed which increased their property value.
Fire Station Fund - To account for the financing of construction and renovation of fire stations and the
'
acquisition of fire fighting equipment. General fund revenues, general obligation bond proceeds and
interest on investments are the sources of financing for building renovation and equipment purchases.
1 Street Improvements Fund - To account for the financing and construction of improvements to and the
extension of the City's streets. The construction is financed primarily by the proceeds of general
obligation bonds and interest on investments.
Park Improvements Fund - To account for the financing of and improvements and enlargements of the
City's parks. These improvements and enlargements are funded by general obligation bond proceeds, state
' grants and interest on investments.
Public Safety Fund - To account for the financing and purchase of public safety equipment. The
' proceeds of general obligation bonds and interest on investments are used to finance the improvements.
City Hall Fund - To account for the financing, construction and furnishing of the new city hall with the
' proceeds of general obligation bonds and interest on investments.
Library Fund - To account for the financing, construction and furnishing of library facilities with the
11
1 55
proceeds of general obligation bonds and interest on investments.
Police and Court Building Fund - To account for the financing of construction and renovation to the
Police and Court Building. The construction is financed primarily by the proceeds of general obligation
'
bonds and interest on investments.
Drainage Improvements Fund - To account for the financing and construction of improvements to and
1
the extension of the City's drainage system. The construction is financed primarily by the proceeds of
general obligation bonds and interest on investments.
1
11
1 55
CITY OF ALLEN, TEXAS
Capital Projects Funds
Combining Balance Sheet
September 30, 1999
(With comparative totals for year ended September 30, 1998)
56
Capital
Special
Fire
Servet
Marc,;
project,
Pro rata
amewment
'nation
lmprovemcnt,
Cash and cash equivalents
5
253,545
906,841
1,913,143
350,998
3,454,017
Investments
—
260,000
—
—
6,687,167
Accrued ineerest revivable
—
1,740
—
—
34,915
Special msetereats revivable
—
—
275,220
—
—
Toralassees
S
253,545
1,168,581
2,188,363
350,998
10,176,099
Liabilifies and Fund Balance
Liabilities.
Amounts payable
S
—
875
—
—
132,243
Retainage payable
38,423
1,439
—
—
548,801
Deferred revenue
280,543
789,025
Total liabilities
38,423
2,314
280,543
1,470,069
Fund balance.
Reserved fica,mombtances
—
—
—
274,500
3,069,519
Unreserved
Desipeacd for capital projects
—
1,166,267
—
—
—
Undesign ded
215,122
—
1,907,820
76,498
5,636,511
Total fund balance
215,122
1,166,267
1,907,820
350,998
8,70,030
Total liabdlbes
f
253,545
1,168,581
2,188,363
350,998
10,176,099
and fund balance
56
Exhibit E-1
Park
Public
1,601,200
-
Polies uud
Dninuge
Tomb
794,841
improvement
mfety
CI1y He11
Library
Boum building
improvement
1999
1998
868,276
208,851
3,173,943
221,597
250,472
195,290
11,796,973
12,039,528
6,44,107
-
1,652234
-
30,000
-
15,343,508
9,158,921
21,074
-
13,127
-
317
-
71,173
167,541
-
-
-
-
285,318
10,300
275,220
277,973
7,333,457
208,851
4,839,304
221,597
550,789
195,290
27,486,874
21,643,963
3,667
44,092
1,601,200
-
-
-
1,782,077
794,841
4,533
-
202288
-
-
-
795,484
359,083
-
-
-
1,069,568
1,072,322
8,200
44,092
1,803,488
3,647,129
2,226,246
271,983
-
1,090,106
23,844
285,318
10,300
5,025,570
7,092,537
-
-
-
-
-
-
1,166267
933,380
7,053,274
164,759
1,945,710
197,753
265,471
184,990
17,647,908
11,391,800
7,325,257
164,759
3,035,816
221,597
550,789
195,290
23,839,745
19,417,717
7,333,457
208,851
4,839,304
221,597
550,789
195290
27,486,874
21,643,963
57
CITY OF ALLEN, TEXAS
Capital Projects Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balance
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
58
Capital
Special
Fire
Street
projects
Prorsta
assessment
amtioo
improvements
Revenues:
Special assessments
E -
-
2,753
-
-
hocrgovemmen d
-
-
-
-
-
Interest
22,246
53,198
78,377
3,237
334,886
Developers' fees
-
395,178
-
-
-
Total revenues
22,246
448,376
81,130
3,237
334,886
Expenditures -capital outlays
16,051
59,319
-
1,679
4,788,841
Excess (deficiency) of
revenues over expenditures
6,195
388,987
81,130
1,558
(4,453,955)
Other financing sources:
Operating transfers in
-
-
-
-
76,100
Operating tronsfers ora
-
(156,100)
-
(22,734)
-
P odds from sale of bonds
350,000
6,475,Oo0
Total other sources
(156,100)
327,266
6,551,100
Excess(deficiency) ofrevenues
and other sources over
6,195
232,887
81,130
328,824
2,097,145
expenditures
Fund balances, beginning fyear
208,927
933,380
1,826,690
22,174
6,608,885
Fund balances, end of year
E 215,122
1,166,267
1,907,820
350,998
8,706,030
58
Exhibit E-2
I
59
Park
Public
Pull. and
Drainage
Tum1s
'
improvcmenb
"rely
City Bull
Library
court building
improvements
1999
1998
_
=
2,753
156,395
6,035,975
121,307
24,011
287,330
11,276
3,430
1,226
940,520
1,091,163
-
-
-
-
395,178
249,460
'
121,307
24,011
287,330
11,276
3,430
1,226
1,338,455
7,532,993
551,703
261,016
5,682,981
18,560
2,641
936
11,383,797
10,26,764
(430,396)
(237,005)
(5,395,651)
(7,284)
789
290
(10,045,342)
(2,733,771)
-
-
1}]0,104
-
-
-
1,446,204
785,731
-
(10,000)
-
-
(318,834)
-
5,7]0,000-
-
550,000
195,000
13,340,000
10,000,000
5,770,000
(140,000)
1,370,104
550,000
195,000
14,467,370
10,785,731
5,339,604
(377,005)
(4,025,547)
(7,284)
550,789
195,290
4,422,028
8,051,960
1,985,653
541,764
7,061,363
228,881
-
-
19,417,717
11,365,757
7,325,257
164,759
3,035,816
221,597
550,789
195,290
23,839,745
19,417,717
I
59
CITY OF ALLEN
M
ENTERPRISE FUNDS
The Enterprise Funds are used to account for operations which are financed and operated in a manner
similar to private business enterprises where the intent is that the costs of providing goods or services to
the general public on a continuing basis be financed or recovered primarily through user charges.
Water and Sewer Fund - accounts for the provision of water and sewer services to the residents of the
City.
Solid Waste Fund - accounts for the provision of solid waste services to the residents of the City.
Development Fees Fund - accounts for fee receipts and corresponding expenditures for additional impact
on water and sewer system from new development.
Drainage Fund - accounts for the provision of developing and maintaining proper training services to the
residents of the City.
Parks and Recreation Fund - accounts for the provision of recreation services to the residents of the
City.
61
CITY OF ALLEN, TEXAS
Enterprise Funds'
Combining Balance Sheet
September 30, 1999
(With comparative totals for September 30, 1998)
62
Water mud
Solid
Development
Assets
sewer
waste
fen
Current assets.
Cwh and cosh equivalents
s
3,707,109
51,552
970,692
Investments
11,243,018
319,638
1,474,983
Receivable, net of mllowmnces for
uncollecmble mccounts:
Accounts
1,298,268
44,312
—
Accrued interest
91,226
1,045
10,168
011ier
—
22,325
—
Restsided ceh and cash equivalents
1,935,219
—
—
ToWcurrentmsrets
18,274,840
438.872
2,455,843
Fixed assets, net accumulated depreciation
51,082,638
—
2,087,795
Other assets, at cost
56,000
—
—
Totalassct;
s
69,413,478
438,872
4,543,638
Liabilities and Fund Equity
Currentliabilities:
Accounts payable
$
2,404,251
126,772
95,866
Accrued liabditm
24,525
—
—
Accrued compensated absences
92.312
—
—
Retainage payable
187,624
—
19,422
2,708,712
126,772
115,288
Payable Oom restricted assets'
Revenue bonds payable
945•
—
Accrued interestpayable
305,179
—
—
Utiliydeposits
681,281
—
—
Total current liabilitin
4,640,172
126,772
115,288
Accrued interest payable
836,132
—
—
ContmclpaYed,le
1,126,134
—
—
Revenue bonds Mable
17,414,952
—
—
Totalliabilities
24,017,390
126,772
115,288
Equity and oNer credits
Contributed capital
34,934,780
—
5,082,851
Retained earnings:
Reserved for revenue bond principal and interest
103,759
—
—
Umesmed
10,357,549
312,100
(654,501)
Total retained earnings
10,461,308
312,100
(654,501)
Total fund equity and other credits
45,396,088
312,100
4,428,350
Total liabilities and fund equity
$
69,413,478
438,872
4,543,638
62
Exhibit F-1
W
e.r .ne
Tolls
D .in.g.
reorca6on
1999
1998
130,366
50,236
4,909,955
2,163,966
472,361
181,098
13,691,098
6,65508
25,785
-
1,368,365
1,427,462
6,522
1,773
110,734
21,423
-
1,329
23,654
94,279
1,935,219
1,994,555
635,034
234,436
22,039,025
12,357,353
213,972
41,631
53,426,036
45,552,956
56,000
44,800
849,006
276,067
75,521,061
57,955,109
17,736
31,925
2,676,550
719,882
1,845
1,993
28,363
20,019
3,462
-
95,774
90,142
207,046
14,574
23,043
33,918
3,007,733
944,617
-
-
945,000
585,000
-
-
305,199
196,116
681,281
585,627
23,043
33,918
4,939,193
2,211,360
-
-
836,132
836,132
-
-
1,962,266
1,126,134
17,414,952
9,206,532
23,043
33,918
24,316,411
13780,158
-
-
40,017,631
34,923,441
-
-
103,759
627,812
825,963
242,149
11,083,260
9,023,698
825,963
242,149
11,187,019
9,651,510
825,963
242,149
51,204,650
44,574,951
849,006
276,067
75,521,061
57,955,109
W
CITY OF ALLEN, TEXAS
Enterprise Funds
Combining Statement of Revenues, Retained
Earnings and Changes in Fund Equity
Year ended September 30, 1999
(With comparative totals for year ended September 30, 1998)
64
Wstwsmd
Solid
Development
sewer
wash
fees
Operating revenues:
Water sales
$ 6,304,831
—
—
Sewerchaages
2,378,260
—
Connection fees
187,152
—
—
Garbage collections
—
1,786,007
S.M. charges
259,5%
—
—
Drainage fees
—
—
Reco atioa fees
—
—
Miscclleneous
246,618
—
—
Total upending revenues
9,376,457
1)86,007
—
Operating mis ws:
Personal services
1,526,782
—
—
Command services
3,708,001
1,652,668
—
Maintenance
100,411
—
—
SupPlres
65,933
—
—
Deprecidion and amortitation
1,604,886
—
224,887
Bad debt expense
53,628
6,958
—
Oft,
622,666
15,955
—
Told operating expenses
7,682,307
1,675,581
224,887
Operating income (loss)
1,694,150
110,426
(224,887)
Nonoperating revenues(exPenses):
Interest income
718,970
10,817
96,583
Interest expense
(988,663)
—
—
Total mumperating revenue (expenses)
(269,693)
10,817
9,583
Income (loss) before operating transfers
1,424,457
121,243
(128,304)
Operating transfers in
129,397
—
—
Opemting transfers in from compo..[ unit
—
—
—
Operatingtransfersout
(1,181,427)
(71,463)
—
Netincome(lues)
372,427
49,800
(128,304)
Add deprecidion on contributed assets
998,529
—
—
Increase (decrease) in retained earnings
070,956
49,800
(128,304)
Retained comings(deficit) at beginning ofyear
9,090,352
262,300
(526,197)
Retained amems(deficit) d end of yew
10,461,308
312,100
(654,501)
Contributed capital 9 beginning of yew
30,955,292
—
3,993,195
Capital contributions
4,992,669
—
1,089,656
Depreciation vansfened from retained comings
(998,529)
—
—
Residual equity toesSfers
(14,652)
—
—
Comunmeed capitd d and ofyeer
34,934,780
—
5,082,851
Fund equity at end ofyew
E 45,396,088
312,100
4,428,350
64
Exhibit F-2
Parks and
Totals
Dreioagr
rccreaHon
1999
1998
-
-
6,304,831
6,280,467
-
-
2,378,260
2,050,238
-
-
187,152
163,597
-
-
1,786,007
1,518,495
-
-
259,596
265,790
464,013
-
464,013
415,778
-
378,479
378,479
353,096
171,794
53,197
471,609
379,380
635,807
431,676
12,229,947
11,426,841
140,782
155,037
1,822,601
1,526,197
19,882
1,100
5,381,651
4,575,167
102,614
-
203,025
234,756
10,484
1,893
78,310
56,559
32,402
9,893
1,872,068
1,556,744
3,453
-
64,039
12,256
12,143
237,415
888,179
652,951
321,760
405,339
10,309,873
8,614,630
314,047
26,338
1,920,074
2,812,211
31,770
10,229
868,369
514,006
(988,663)
(625,792)
31,770
10,229
(120,294)
(111,786)
345,817
36,567
1,799,780
2,700,425
-
15,000
144397
123,026
-
30,000
30,000
20,000
(159,281)
(1,412,151)
(766,995)
186,536
81,567
562,026
2,076,456
998,529
%9,2D7
186,536
81,567
1,560,555
3,044,663
639,427
160,582
9,626,464
6,581,801
825,963
242,149
11,187,019
9,626,464
-
-
34,948,487
26,130,216
-
-
6,082,325
9,786,478
-
-
(998,529)
(968207)
14,652)
40,017,631
34,948,487
825,963
242,149
51,204.650
44,574,951
65
CITY OF ALLEN, TEXAS
Enterprise Funds
Combining Statement of Cash Flows
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
Cash Flows from noncapital financing activities
Operming transfers from other funds
Water and
Solid
Development
opeMingtransferstootherfunds
sewer
waste
fees
Cash flow fiom operating activities:
(14,652)
—
—
Ommting income( loss)
S 1,694,150
110,426
(224,887)
Adjustments to Muscile operating income (loss) to
net cash provided by operating activities:
—
—
1,069,656
Depreciation and mum-flealion expense
1,604,886
—
224,887
Change in assets and liabilities.
(3,976,580)
—
Decrease (increase) in account, receivable
110,123
(42,677)
—
Do.. (increase) in other receivables
58,363
13,539
—
Increase (decrease) in accounts payable
1,780,507
63,902
89,658
Increase (decrease) in accraed liabilities
6,674
—
—
inctease to compaasmed absents
5,910
—
—
Increase in utility deposits
95,654
—
—
Inemese (decrease) morease in omam ge payable
180,203
—
12,269
Increase in other assets
(11,200)
—
—
TOW adjustments
3,8312120
34,764
326,814
Net cash provided by operming activities
5,525370
145,190
101,927
Cash Flows from noncapital financing activities
Operming transfers from other funds
129.397
—
—
opeMingtransferstootherfunds
(1,181,427)
(71,443)
—
Residualequityuansfers
(14,652)
—
—
Netcash(used in) provided by noncepital financing amiv
(1,066,682)
(71,443)
—
Cmh flows from capital and mimed financing activities:
Contributions from developers
—
—
1,069,656
pmoneds hom issuance ofrevenue bonds
12,545,000
—
—
Principm paid on revenue bond mmunta s
(3,976,580)
—
Interest paid
(879,600)
—
—
Acquisitio,ofcapiWassea
(3,981,060)
—
(653,909)
Net cash provided by (used in) capital and mimed
financial activities
3,707,760
—
435,747
Cash fl. from investing =Win-
Purchase of investment securities
(28,499,718)
(861,064)
(2,343,727)
Proceeds from the sale and commute, of investment
securities
22,666,452
732,312
1373,703
Interest on investments
640,379
10,567
89,069
Net cash provided by (used for)
investing activities
(5,192,887)
(118,185)
(980,955)
Net increase (decrease) in cab and cmh equivalent,
2,973,461
(44,438)
(443381)
Cash and cash equivalents, beginning of year
2,668,867
95,990
1,413,973
Cash and rash equivments, end ofyear $
5,642,328
51,552
970,692
Noncash financing activities S
4,992,669
—
1,089,656
66
Exhibit F-3
67
Pnrke and
Tomb
Dnivnge
rrcrentiev
1999
1998
314,047
2038
1,920,074
2,812,211
32,402
9,893
1,872,068
1,556,744
(8,349)
-
59,097
(561,448)
-
(1,277)
70,625
(42,660)
(178)
22,779
1,956,668
(38,277)
217
1,453
8,344
(44,OD1)
(278)
-
5,632
17,270
-
-
95,654
66,930
-
-
192,472
(44,626)
1,200)
23,814
32,848
4,249,360
909,932
337,861
59,186
6,169,434
3,722,143
-
45,000
174,397
143,026
(159,281)
-
(1,412,151)
(741,949)
(14,652)
(25,046)
(159,281)
45,000
(1,252,406)
(623,969)
-
-
1,089,656
762,411
-
-
12,545,000
-
-
-
(3,976,580)
(533,710)
-
-
(879,600)
(767,536)
(98,725)
(18,783)
(4,752,477)
(1,892,175)
(98,725)
(18,783)
4,025,999
(2,456,056)
(1,222,281)
(567,267)
(33,494,057)
(14,593,698)
1,159,626
626,534
26,458,627
12,755,306
28,474
10,567
779,056
509,325
(34,181)
69,834
(6,256,374)
(1,334,067)
45,674
155,237
2,696,653
(666,903)
84,692
(105,001)
4,158,521
4,825,424
130,366
50,236
6,845,174
4,158,521
6,082,325
9,024,067
67
Exhibit F-4
CITY OF ALLEN, TEXAS
Comparative Water and Sewer Enterprise Fund
Balance Sheets
September 30, 1999
(With comparative totals for September 30, 1998)
Assets
1999
1998
Current assets'
f 3,607,109
674,312
Cash and cash equivalents
11,213,016
5,409,752
Investmems
Receivables, net of allowance for uncollectible:
1,298,268
1,408,391
Accounts
91,226
12,635
Accrued interest
58,363
Oft,—
Rcsbicted cash and cash equivalents
2,035,219
1,994,555
Total current assets
18,274,840
9,558,008
Fixed assets:
341,850
341,850
Ind
59,113,888
51,814,580
Utility plant and service
2,528,832
2,528,832
Pump station
1,130,142
945,473
Machinery and equipment
2,584,331
1,087.380
Construction in pmeress
65,699,043
56,714,115
U. accumulated depreciation
04,616,405)
(13,000,320)
Total fixed assets, net
51,082,638
43,713,795
Ulher assets - bond issue costs
56,000
44,800
Toll assets
f 69,413,478
53,316,603
Liabilities and Fund Equity
Current liabilities:
f 2,404,251
623,744
Accounts payable
24,525
17,851
Accrued liabilities
92,312
86,102
ate
Accrued compensd absences
187,624
7,421
Retainage payable
Payable from restricted Teats:
945,000
585,000
Revenue bonds payable
305,179
196,116
Accrued intete o payable
Utility deposits
691,281
585,627
Total current liabilities
4,640,172
2,102.161
Accrued interest payable
836,132
836,132
Contract Payable
1,126,134
1,126,134
Revenue bonds payable
17,414,952
9306.532
Total liabilities
24,017,390
13370,959
Fund equity:
34,934.780
30,930346
Contributed capital
Retained earrings:
103,759
627,812
Reserved for revenue bond principal and interest
Unreserved
10,357,549
8,487,586
Total fund equity
45,396,088
40,045,644
Tocol liabilities and fund equity
f 69,413,478
53,316,603
68
Exhibit F-5
CITY OF ALLEN, TEXAS
Water and Sewer Enterprise Fund
Comparative Statements of Revenues, Expenses
and Changes in Retained Earnings
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
M
1999
1998
Operating revenues:
water sales
$ 6,104,831
6,280,467
Sewer changes
2,378,260
2,050,238
Connection kes
187,152
163,597
Service charges
259,596
265,790
Miscellaneous
246,618
216,929
Tota operating revenues
9,376,457
8,977,021
Operating expenses:
Personal services
1,526,782
1,292,171
Contractual and caber services
3,708,001
3,085,466
Maintenance
100,411
IOg705
Supplies
65,933
50,783
Depreciation and amortization
1,604,886
1,527,365
Bad debt expense
53,628
12,256
Other
622,666
411,034
ToW operating expenses
7,682,307
6,479,780
Operating income
1,694,150
2,497741
Nonoperating menues (expenses):
Interest income
718,970
386,135
huaestexpense
(988,663)
(625,792
TOW non"erating revenue (expenses)
(269,693)
(239,657)
Income before opemting transfers
1,424,457
2,257,584
Operating transfers in
129,397
87,456
Operating transfers in - component unit
_
20,000
Operating transfers out
(1,181,427)
(616,197)
Net income
372,427
1,748,843
Add depreciation on conmbuted assets
998,529
968,207
Increase in retained earnings
1,370,956
2,717,050
Retained eamings v beginning ofyear
9,090,352
6,373,302
Retained earnings at end of year
10,461,308
9,090,352
Contributed capita m beginning ofyear
30,955,292
22,899,432
Capita contributioru
4,992,669
9,024,067
Depreciation trensfened horn retained earnings
(998,529)
(968,207)
Residual equity transfers
(14,652)
Contdbuted capita at end of year
34,934,780
30,955,292
Fund equity m end of year
S 45,396,088
40,045,644
M
Exhibit F-6
MY OF ALLEN, TEXAS
Water and Sewer Enterprise Fund
Comparative Statements of Cash Flows
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
filo
1999
1998
Cash flow from operating activities:
S 1,694,150
2,497,241
Operating income
Adjustments to reconcile operating income to net cash
provided by operating activities:
1,604,886
1,527,365
Depreciation and ammtii ion
Change in assets and liabilities:
Decrease,(increase) in accounts receivable
110,123
(582,212)
Decrease: (increase) in other receivable
58,363
(27,769)
Increase in accounts payable
1,780,507
152,331
Increase (decrease) increase in accrued liabilities
6,674
(39,620)
Increase in compensated absences
5,910
15,361
Increase in utility deposits
95,654
66,930
Increase in retainage payable
180,203
—
Increaseinotherassets
(11,200)
—
Total adjustments
3,831,120
1,112,386
Net cash provided by operating activities
5,525,270
3,609,627
Cash flows from noncapiml financing activities:
Operating transfers from other funds
129,397
107,456
Operating transfers to other funds
(1,181,427)
(591,151)
Residual equity transfers
(14,652)
(25,046)
Net cash used in noncapital financing activities
(1,066,682)
(508,741)
Cash flows from capital and related financing activities:
Proceeds from issuance of revenue bonds
12,545,000
—
Principal paid on revenue bond maturities
(3,976,580)
(533,710)
Interest paid
(879,600)
(767,536)
Acquisition of capital assets
(3,981,060)
(1,382,823)
Net cash provided by (used in) capital and related
financing activities
3,707,760
(2,684,069)
Cash flows from investing activities:
Purchase of investment securities
(28,499,718)
(11,735,197)
proceeds from the sale and maturities of investment securities
22,666,452
10,536,639
Interest on investments
640,379
381,604
Net cash used for investing activities
(5,192,887)
(816,954)
Net increase (decrease) in cash and cash equivalents
2973.461
(000,137)
Cash and cash equivalents, beginning of year
2,668,867
3,069,004
Cash and cash equivalents, end of year
$ 5,642,328
2,668,867
Non cash financing activities:
Contributions of fixed assets from developers
$ 4,992,669
9,024,067
filo
Exhibit F-7
CITY OF ALLEN, TEXAS
Solid Waste Enterprise Fund
Comparative Balance Sheets
September 30, 1999
( With comparative totals for September 30, 1998)
Assets
1999
1998
Current assets:
Cash and cash equivalents
$
51,552
95,990
Investments
319,638
190,886
Receivables, net of allowance for uncollectibles:
Accounts
44,312
1,635
Accrued interest
1,045
795
Other
22,325
35,864
Total current assets
438,872
325,170
Total assets
$
438,872
325,170
Liabilities and Fund Equity
Accounts payable
$
126,772
62,870
Total liabilities
126,772
62,870
Fund equity:
Retained earnings - unreserved
312,100
262,300
Total fund equity
312,100
262,300
Total liabilities and fund equity
$
438,872
325,170
Vil
Exhibit F-8
CITY OF ALLEN, TEXAS
Solid Waste Enterprise Fund
Comparative Statements of Revenues, Expenses
and Changes in Retained Earnings
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
1999 1998
Operating revenues:
Garbage collections
$ 1,786,007
1,518,495
Total operating revenues
1,786,007
1,518,495
Operating expenses:
Contractual and other services
1,652,668
1,459,457
Other
22,913
19,693
Total operating expenses
1,675,581
1,479,150
Operating income
110,426
39,345
Nonoperating revenues - interest income
10,817
12,457
Total nonoperating revenue
10,817
12,457
Income before operating transfers
121,243
51,802
Operating transfers out
(71,443)
(45,815)
Net income
49,800
5,987
Increase in retained earnings
49,800
5,987
Retained earnings at beginning of year
262,300
256,313
Retained earnings at end of year
$ 312,100
262,300
72
1
1
1
1
1
CITY OF ALLEN, TEXAS
Solid Waste Enterprise Fund
Comparative Statements of Cash Flows
Year ended September 30, 1999
( With comparative totals for the year ended September 30, 1998)
Cash flow from operating activities:
Operating income
Adjustments to reconcile operating income to net cash
provided by operating activities:
Change in assets and liabilities:
(Increase) decrease in accounts receivable
Decrease (increase) in other receivables
Increase (decrease) in accounts payable
Total adjustments
Net cash provided by operating activities
Cash flows from noncapital financing activities -
operating transfers out
Cash flows from investing activities:
Purchase of investment securities
Proceeds from the sale and maturities of investment securities
Interest on investments
Net cash (used for) provided by investing activities
' Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents, beginning of year
' Cash and cash equivalents, end of year
73
Exhibit F-9
1999 1998
$ 110,426 39,345
(42,677)
26,463
13,539
(14,839)
63,902
(21,812)
34,764
(10,188)
145,190
29,157
(71,443) (45,815)
(861,064) (415,758)
732,312
446,832
10,567
12,390
(118,185)
43,464
(44,438)
26,806
95,990
69,184
$ 51,552
95,990
CITY OF ALLEN, TEXAS
Development Fees Enterprise Fund
Comparative Balance Sheets
September 30, 1999
(With comparative totals for September 30, 1998)
Assets
Current assets:
Cash and cash equivalents
Investments
Accrued interest receivable
Total current assets
Fixed assets:
Land
Utility plant in service
Construction in progress
Less: accumulated depreciation
Total fixed assets, net
Total assets
Liabilities and Fund Equity
Current liabilities:
Accounts payable
Retainage payable
Total curtent liabilities
Fund equity:
Contributed capital
Deficit
Total fund equity
Total liabilities and fund equity
Exhibit F-10
1999 1998
$ 970,692
1,413,973
1,474,983
404,959
10,168
2,654
2,455,843
1,821,586
259,990
259,990
920,679
266,771
1,172,223
1,172,223
2,352,892
1,698,984
(265,097)
(40,211)
2,087,795
1,658,773
$ 4,543,638
3,480,359
$ 95,866
6,208
19,422
7,153
115,288
13,361
5,082,851
3,993,195
(654,501)
(526,197)
4,428,350
3,466,998
$ 4,543,638
3,480,359
CITY OF ALLEN, TEXAS
Development Fees Enterprise Fund
Comparative Statements of Revenues, Expenses
and Changes in Retained Earnings
Year ended September 30, 1999
( With comparative totals for the year ended September 30, 1998)
Operating revenues
Operating expenses:
Depreciation
Other
Total operating expenses
Operating loss
Nonoperating revenues - interest income
Net (loss) income
Decrease (increase) in retained earnings
Deficit at beginning of year
Deficit at end of year
Contributed capital at beginning of year
Capital contributions
Contributed capital at end of year
Fund equity at end of year
75
Exhibit F-11
1999 1998
224,887
6,669
—
782
224,887
7,451
(224,887)
(7,451)
96,583
85,839
(128,304)
78,388
(128,304)
78,388
(526,197)
(604,585)
(654,501)
(526,197)
3,993,195
3,230,784
1,089,656
762,411
5,082,851
3,993,195
$ 4,428,350
3,466,998
CITY OF ALLEN, TEXAS
Development Fees Enterprise Fund
Comparative Statements of Cash Flows
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
Cash flow from operating activities:
Operating loss
Adjustments to reconcile operating income to net cash
provided by (used in) operating activities:
Depreciation
Change in assets and liabilities:
Increase (decrease) in accounts payable
Increase (decrease) in retainage payable
Total adjustments
Net cash provided by (used in) operating activities
Cash flows from capital and related financing activities:
Contributions from developers
Acquisition of capital assets
Net cash provided by capital and related
financing activities
Cash flows from investing activities:
Purchase of investment securities
Proceeds from the sale and maturities of investment securities
Interest on investments
Net cash used for investing activities
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
Non cash financing activities - contributions of fixed
assets from developers
76
Exhibit F-12
1999
1998
1,273,703
805,294
$ (224,887)
(7,451)
224,887
6,669
89,658
(53,809)
12,269
(44,626)
326,814
(91,766)
101,927
(99,217)
1,089,656
762,411
(653,909)
(426,875)
435,747
335,536
(2,343,727)
(1,110,473)
1,273,703
805,294
89,069
83,336
(980,955)
(221,843)
(443,281)
14,476
1,413,973
1,399,497
$ 970,692
1,413,973
$ 1,089,656 762,411
CITY OF ALLEN, TEXAS
Drainage Enterprise Fund
Comparative Balance Sheets
September 30, 1999
(With comparative totals for September 30, 1998)
Assets
Current assets:
Cash and cash equivalents
Investments
Accounts receivable
Accrued interest receivable
Total current assets
Fixed assets:
Utility plant in service
Machinery and equipment
Less: accumulated depreciation
Total assets
Liabilities and Fund Equity
Current liabilities:
Accounts payable
Accrued liabilities
Accrued compensated absences
Total current liabilities
Fund equity:
Retained earnings - unreserved
Total fund equity
Total liabilities and fund equity
77
Exhibit F-13
1999 1998
$ 130,366
84,692
472,361
409,706
25,785
17,436
6,522
3,228
635,034
515,062
825,963
82,477
82,477
182,040
83,315
264,517
165,792
(50,545)
(18,145)
213,972
147,647
$ 849,006
662,709
$ 17,736
17,914
1,845
1,628
3,462
3,740
23,043
23,282
825,963
639,427
825,963
639,427
$ 849,006
662,709
CITY OF ALLEN, TEXAS
Drainage Enterprise Fund
Comparative Statements of Revenues, Expenses
and Changes in Retained Earnings
For the years ended September 30, 1999 and 1998
Exhibit F-14
1999 1998
Operating revenues:
Drainage fees
$ 464,013
415,778
Miscellaneous
171,794
131,527
Total operating revenues
635,807
547,305
Operating expenses:
personal services
140,782
129,072
Contractual and other services
19,882
21,696
Maintenance
102,614
134,051
Supplies
10,484
5,776
Depreciation
32,402
15,948
Other
15,596
10,113
Total operating expenses
321,760
316,656
Operating income
314,047
230,649
Nonoperating revenues - interest income
31,770
23,207
Income before operating transfers
345,817
253,856
Operating transfers out
(159,281)
(42,862)
Net income
186,536
210,994
Increase in retained earnings
186,536
210,994
Retained earnings at beginning of year
639,427
428,433
Retained earnings at end of year
$ 825,963
639,427
78
CITY OF ALLEN, TEXAS
Drainage Enterprise Fund
Comparative Statements of Cash Flows
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
Cash flow from operating activities:
Operating income
Adjustments to reconcile operating income to net cash
provided by operating activities:
Depreciation
Change in assets and liabilities:
Increase in accounts receivable
Decrease in accounts payable
Increase (decrease) in accrued liabilities
(Decrease) increase in compensated absences
Total adjustments
Net cash provided by operating activities
Cash flows from noncapital financing activities - operating
transfers to other funds
Cash flows from capital and related financing activities -
acquisition of capital assets
Cash flows from investing activities:
purchase of investment securities
proceeds from the sale and maturities of investment securities
Interest on investments
Net cash used for investing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
79
Exhibit F-15
1999 1998
$ 314,047 230,649
32,402 15,948
(8,349)
(5,699)
(178)
(81,795)
217
(4,921)
(278)
1,909
23,814
(74,558)
337,861
156,091
(159,281) (42,862)
(98,725) (82,477)
(1,222,281) (904,838)
1,159,626
733,017
28,474
22,586
(34,181)
(149,235)
45,674
(118,483)
84,692
203,175
$ 130,366
84,692
CITY OF ALLEN, TEXAS
Parks and Recreation Enterprise Fund
Comparative Balance Sheets
September 30, 1999
(With comparative totals for September 30, 1998)
Assets
Current assets:
Cash and cash equivalents
Investments
Accmed interest receivable
other receivable
Total current assets
Machinery and equipment
Less: accumulated depreciation
Total assets
Liabilities and Fund Equity
Current liabilities:
Accounts payable
Accrued liabilities
Total current liabilities
Fund equity:
Retained earnings - unreserved
Total fund equity
Total liabilities and fund equity
80
Exhibit F-16
1999 1998
$ 50,236
(105,001)
181,098
240,365
1,773
2,111
1,329
52
234,436
137,527
59,356
40,573
(17,725)
(7,832)
41,631
32,741
$ 276,067
170,268
$ 31,925
9,146
1,993
540
33,918
9,686
242,149
160,582
242,149
160,582
$ 276,067
170,268
Exhibit F-17
CITY OF ALLEN, TEXAS
Parks and Recreation Enterprise Fund
Comparative Statements of Revenues, Expenses
and Changes in Retained Earnings
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
81
1999
1998
Operating revenues:
Recreation fees
$ 378,479
353,096
Miscellaneous
53,197
30,924
Total operating revenues
431,676
384,020
Operating expenses:
Personal services
155,037
104,954
Contractual and other services
1,100
8,548
Depreciation
9,893
6,762
Other
239,308
211,329
Total operating expenses
405,338
331,593
Operating income
26,338
52,427
Nonoperating revenues - interest income
10,229
6,368
Income before operating transfers
36,567
58,795
Operating transfers in
15,000
35,570
Operating transfers in from component unit
30,000
-
Operating transfers out
-
(62,121)
Net income
81,567
32,244
Increase in retained earnings
81,567
32,244
Retained earnings at beginning of year
160,582
128,338
Retained earnings at end of year
$ 242,149
160,582
81
CITY OF ALLEN, TEXAS
Parks and Recreation Enterprise Fund
Comparative Statements of Cash Flows
For the year ended September 30, 1999
(With comparative totals for September 30, 1998)
Cash flow from operating activities:
Operating income
Adjustments to reconcile operating income to net cash
provided by operating activities:
Depreciation
Change in assets and liabilities:
Increase in other accounts receivable
Increase (decrease) in accounts payable
Increase in accrued liabilities
Total adjustments
Net cash provided by operating activities
Crib flows from noncapital financing activities:
Operating transfers from other funds
Operating transfers to other funds
Net cash provided by (used in) noncapiml
financial activities
Cash flows from capital and related financing activities -
acquisition of capital assets
Cash flows from investing activities:
Purchase of investment securities
Proceeds from the sale and maturities of investment securities
Interest on investments
Net cash provided by (used for) investing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
82
Exhibit F-18
1999 1998
$ 26,338 52,427
9,893 6,762
(1,277)
(52)
22,779
(33,192)
1,453
540
32,848
(25,942)
59,186
26,485
45,000 35,570
— (62,121)
45,000 (26,551)
(18,783) —
(567,267)
(427,432)
626,534
233,524
10,567
4,409
69,834
(189,499)
155,237
(189,565)
(105,001)
84,564
S 50,236
(105,001)
INTERNAL SERVICE FOND
The Internal Service Fund is used to account for financing of services provided by one department to other
departments of the City on a cost -reimbursement basis.
The Vehicle Replacement Fund accounts for the costs associated with the acquisition of vehicles through
the rental of such vehicles to other departments.
83
CITY OF ALLEN, TEXAS
Vehicle Replacement Fund
Comparative Balance Sheets
September 30, 1999
(With comparative totals for September 30, 1998)
Assets
Current assets:
Cash and cash equivalents
Investments
Accrued interest receivable
Total current assets
Property, plant and equipment:
Machinery and equipment
Vehicles
Less accumulated depreciation
Net property, plant and equipment
Total assets
Fund Equity
Equity:
Retained earnings - unreserved
Total fund equity
84
Exhibit G1
1999 1998
$ 636,987 1,162,636
1,118,422 226,576
10,453 499
1,765,862 1,389,711
71,203
30,279
602,977
538,177
(389,512)
(274,412)
284,668
294,044
$ 2,050,530 1,683,755
S 2,050,530 1,683,755
$ 2,050,530 1,683,755
CITY OF ALLEN, TEXAS
Vehicle Replacement Fund
Comparative Statements of Revenues, Expenses and
Changes in Retained Earnings
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
Operating revenues - other income
Operating expenses - depreciation
Operating loss
Nonoperating revenues - interest income
Loss before operating transfers
Operating transfers in
Net income
Increase in retained earnings
Retained earnings, beginning of year
Retained earnings, end of year
85
Exhibit GI
1999 1995
$ —
6,016
115,100
132,886
(115,100)
(126,870)
67,700
51,709
(47,400)
(75,161)
414,175
372,641
366,775
297,480
366,775
297,480
1,683,755
1,386,275
$ 2,050,530
1,683,755
CITY OF ALLEN, TEXAS
Vehicle Replacement Fund
Comparative Statements of Cash Flows
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
Exhibit G3 t
1
86
1999
1998
Cash flows from operating activities:
Operating loss
$ (115,100)
(126,870)
Adjustments to reconcile operating income to net cash
provided by operating activities:
Depreciation expense
115,100
132,886
Change in assets and liabilities:
Decrease in accounts payable
—
(3,679)
Total adjustments
115,100
129,207
Net cash provided by operating activities
—
2,337
Cash flows from noncapital financing activities -
operating transfers from other funds
414,175
15,073
Cash flows from capital and related financing activities:
Acquisition of capital assets
(105,724)
(46,340)
Residual equity transfers
—
357,668
Net cash (used in) provided by capital and
related financing activities
(105,724)
311,328
Cash flows from investing activities:
Purchase of investment securities
(2,562,828)
(887,901)
Proceeds from the sale and maturities of investment securities
1,670,982
733,350
Interest received
57,746
51,220
Net cash used in investing activities
(834,100)
(103,331)
Net (decrease) increase in cash and cash equivalents
(525,649)
225,407
Cash and cash equivalents, beginning of year
1,162,636
937,229
Cash and cash equivalents, end of year
$ 636,987
1,162,636
86
FIDUCIARY FUND TYPES
' The Fiduciary Fund Types are used to account for assets held by the City in a trustee or agency capacity
for individuals, private organization, other governmental units and/or other funds.
1 Expendable Trust Funds - To account for assets held by the City in a trustee or agency capacity in which
both principal and interest may be expended for designated purposes.
Library Acquisition Fund - To account for funds received and expended for the acquisition of
library books and other resources.
' Park Dedication Fund - To account for funds received and expended for the acquisition of
additional park land for and development of neighborhood parks.
' City of Allen Swim Team Fund - To account for funds received and expended for City of Allen
swim team activities.
' Nonexpendable Trust Fund - To account for assets held by the City in a trustee or agency capacity in
which the principal must be preserved intact.
' Cemetery Trust Fund - To account for funds received and expended for providing City cemetery
services.
I
1
1
1
1
1
1
87
CITY OF ALLEN, TEXAS
Trust Funds
Combining Balance Sheet
September 30, 1999
( With comparative totals for the year ended September 30, 1998)
Assets
Cash and cash equivalents
Investments
Interest receivable, investments
Total assets
Liabilities and Fund Balances
Liabilities:
Accounts payable
Fund balances:
Unreserved - undesignated
Total liabilities and fund balances
88
Expendable trust
Library
Park
Allen
acquisition
dedication
swim team
$ 156,174
89,772
4,064
—
566,383
-
-
5,449
—
$ 156,174
661,604
4,064
156,174 661,604 4,064
$ 156,174 661,604 4,064
Non -
expendable
Cemetery
Totals
trust
1999
1998
54,813
304,823
239,954
—
566,383
234,841
—
5,449
3,097
54,813
876,655
477,892
1,989
54,813 876,655 475,903
54,813 876,655 477,892
89
Exhibit H-1
CITY OF ALLEN, TEXAS
Trust Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance - Expendable Trust Funds
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
Revenues:
Gifts and contributions
Interest
Miscellaneous
Total revenues
Expenditures:
Library purchases
General items
Miscellaneous
Total expenditures
Excess of revenues over expenditures
Operating transfers in from component unit
Net income
Fund balances, beginning of year
Fund balances, end of year
90
Library Park
acquisition dedication
$ 5,665 —
8,533 17,267
— 487,918
14,198 505,185
700 -
- 145,467
700
145,467
13,498
359,718
—
25,100
13,498
384,818
142,676
276,786
$ 156,174
661,604
Totals
Allen
swim team 1999 1998
Exhibit H-2
-
5,665
17,058
-
25,800
20,678
13,340
501,258
127,538
13,340
532,723
165,274
-
700
78,455
8,239
153,706
8,492
3,111
3,111
14,406
. 11,350
157,517
101,353
1,990
375,206
63,921
-
25,100
-
1,990
400,306
63,921
2,074
421,536
357,615
4,064
821,842
421,536
91
Cash and cash equivalents
Accrued interest
Total assets
Exhibit H-3 ,
CITY OF ALLEN, TEXAS
Nonexpendable Cemetery Trust Fund
Comparative Balance Sheets
September 30, 1999
(With comparative totals for September 30, 1998)
Assets 1999 1998
$ 54,813 54,301
— 66
$ 54,813 54,367
Fund Balances
Fund balances - unreserved, undesignated
Total fund balances
M
$ 54,813 54,367
$ 54,813 54,367
1
CITY OF ALLEN, TEXAS
Nonexpendable Cemetery Trust Fund
Comparative Statement of Revenues, Expenses and
Changes in Fund Balances
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
Operating revenues - sale of lots
Operating income
Nonoperating revenues - interest income
Net income
Fund balance, beginning of year
Fund balance, end of year
93
Exhibit H-4
1999
1998
$ —
30,350
—
30,350
446
66
446
30,416
54,367
23,951
$ 54,813
54,367
CITY OF ALLEN, TEXAS
Nonexpendable Cemetery Trust Fund
Comparative Statements of Cash Flows
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
Cash flows from operating activities - operating income
Cash flow from investing activities - interest received
Net increase in cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
94
Exhibit A-5
1999
1998
$ —
30,350
512
-
-
30,350
54,301
23,951
$ 54,813
54,301
I
I
GENERAL FIXED ASSETS ACCOUNT GROUP
' The General Fixed Assets Account Group accounts for fixed assets purchased with general governmental
resources which are used for general governmental purposes. Purchased assets are recorded at cost, and
' donated assets are recorded at fair market value on the date donated. No depreciation is recognized on
these assets.
1
1
1
1
1
1
95
CITY OF ALLEN, TEXAS
General Fixed Assets
Comparative Schedule of General Fixed Assets by Source
September 30, 1999 and 1998
General fixed assets:
Land
Buildings and improvements
Improvements other than buildings
Machinery and equipment
Construction in progress
Total general fixed assets
Investment in general fixed assets from:
General fund:
Balance at beginning of year
Current operations
Total investment in general fixed assets
96
Exhibit 1-1
1999 1998
$ 7,842,099
7,694,917
9,003,915
8,973,267
36,669,692
24,202,897
10,232,032
9,422,918
9,587,970
10,661,558
$ 73,335,708
60,955,557
$ 60,955,557
49,526,202
12,380,151
11,429,355
$ 73,335,708
60,955,557
I
' DISCRETELY PRESENTED COMPONENT UNITS
1
1
1
1
1
1
1
1
1
1
Allen Economic Development Corporation - AEDC is a legally separate entity from the City responsible
for aiding, promoting and furthering economic development within the city.
Community Development Corporation - CDC is a legally separate entity from the City and is
responsible for supporting the improvements in community parks and recreation, streets and sidewalks,
public safety and the community library.
97
MY OF ALLEN, TEXAS
Allen Economic Development Corporation
Combining Balance Sheet
September 30, 1999
(With comparative totals for September 30, 1998)
Liabilities:
Accounts payable
Accrued and other liabilities
Notes payable
Total liabilities
Fund balance and other credits:
Investment in general fixed assets
Unreserved - undesignated
Total fund equity and other credits
Total liabilities and fund balances
98
$ 67,547 —
148,935 -
- 2,981,996
216,482 2,981,996
1,304,797 —
1,304,797 —
$ 1,521,279 2,981,996
General
Economic
long-term
Assets
development
debt
Current assets:
Cash and cash equivalents
$ 887,336
—
Investments
279,000
Sales tax receivable
354,943
—
Accrued interest receivable
—
—
Total current assets
1,521,279
—
Fixed assets
Amount available in debt service fund
—
—
Amount to be provided for long term debt
—
2,981,996
Total assets
$ 1,521,279
2,981,996
Liabilities and Fund Balances
Liabilities:
Accounts payable
Accrued and other liabilities
Notes payable
Total liabilities
Fund balance and other credits:
Investment in general fixed assets
Unreserved - undesignated
Total fund equity and other credits
Total liabilities and fund balances
98
$ 67,547 —
148,935 -
- 2,981,996
216,482 2,981,996
1,304,797 —
1,304,797 —
$ 1,521,279 2,981,996
General
fixed Totals
assets 1999 1998
Exhibit J-1
— 887,336
441,579
— 279,000
1,394,111
— 354,943
321,632
— —
13,226
— 1,521,279
2,170,548
8,441,629 8,441,629
7,988,165
2,102,868
564,768
— 2,981,996
4,376,905
8,441,629 12,944,904 15,100,386
— 67,547
65,153
— 148,935
2,527
— 2,981,996
4,941,673
— 3,198,478
5,009,353
8,441,629 8,441,629
7,988,165
— 1,304,797
2,102,868
8,441,629 9,746,426
10,091,033
8,441,629 12,944,904
15,100,386
M
Exhibit J-2
CITY OF ALLEN, TEXAS
Allen Economic Development Corporation
Comparative Statement of Revenues, Expenditures
and Changes in Fund Balances
Year ended September 30, 1999
i
(With comparative totals for the year ended September
30, 1998)
1999
1998
Revenues:
Sales taxes $
1,798,923
1,498,808
Interest
164,022
105,371
Miscellaneous
35
15,523
Total revenues
1,962,980
1,619,702
Expenditures:
General government
321,567
354,815
Capital outlay
2,314,413
1,181,881
Miscellaneous
559,186
436,877
Principal retirement
1,959,677
58,327
Interest
305,087
333,643
Total expenditures
5,459,930
2,365,543
Excess (deficiency) of revenues
over expenses
(3,496,950)
(745,841)
Other financing sources:
Operating transfers in
—
—
Operating transfers out to primary government
(24,000)
(24,000)
Loan proceeds
—
1,052,405
Sale of land
2,722,879
460,133
Total other financing sources
2,698,879
1,488,538
Excess (deficiency) of revenues
and other sources over expenditures
(798,071)
742,697
Fund balances, beginning of year
2,102,868
1,360,171
Fund balances, end of year $
1,304,797
2,102,868
100
mm
f V_
CITY OF ALLEN
101
CITY OF ALLEN, TEXAS
Community Development Corporation
Combining Balance Sheet
September 30, 1999
(With comparative totals for September 30, 1998)
102
General
Community
long-term
Assets
development
debt
Current assets:
Cash and cash equivalents
$
2,375,179
—
Investments
2,124,648
—
Sales tax receivable
355,453
—
Accrued interest receivable
23,050
—
Restricted cash and cash equivalents
—
—
Total current assets
4,878,330
—
Fixed assets, net accumulated depreciation
—
—
Amount available in debt service fund
—
—
Amount to be provided for long tern debt
—
10,190,000
Total assets
$
4,878,330
10,190,000
Liabilities and Fund Balances
Liabilities:
Accounts payable
$
220,283
—
Reminage payable
152,320
—
Revenue bond payable
—
10,190,000
Total liabilities
372,603
10,190,000
Fund balance and other credits:
Investment in General Fixed Assets
—
—
Reserved for encumbrances
4,391,351
—
Unreserved - undesignated
114,376
—
Total fund equity and other credits
4,505,727
—
Total liabilities and fund balances
$
4,878,330
10,190,000
102
General
fixed
Totals
1999 1998
— 2,375,179
1,403,491
— 2,124,648
2,376,519
— 355,453
321,632
— 23,050
22,967
698,669
— 4,878,330
4,823,278
9,399,478 9,399,478
2,872,383
439,190
— 10,190,000
4,785,810
9,399,478 24,467,808 12,920,661
— 220,283
139,500
— 152,320
102,359
— 10,190,000
5,225,000
— 10,562,603
5,466,859
9,399,478 9,399,478 2,872,383
— 4,391,351 3,655,416
Y,Jri,4 to u,vu3,zu3 1,433,EVL
9,399,478 24,467,808 12,920,661
103
Exhibit J-3
Exhibit J4 '
CITY OF ALLEN, TEXAS
Community Development Corporation -
Comparative Statement of Revenues, Expenditures
and Changes in Fund Balances
Year ended September 30, 1999
(With comparative totals for the year ended September 30, 1998)
0.1
1
1999
1998
Revenues:
Salestaxes
$ 1,798,823
1,498,808
Interest
271,161
277,291
Miscellaneous
—
17,367
Total revenues
2,069,984
1,793,466
Expenditures:
General Items
18,566
1,301
Community development
62,148
17,717
Capital outlay
6,519,672
2,872,383
Principal retirement
160,000
125,000
Interest
279,190
311,427
Total expenditures
7,039,576
3,327,828
Excess (deficiency) of revenues over expenses
(4,969,592)
(1,534,362)
Other financing sources:
Operating transfers in
—
167,692
Operating transfers out to primary government
(231,100)
(211,692)
Bond proceeds
5,125,000
—
Total other financing sources
4,893,900
(44,000)
Excess (deficiency) of revenues and other
sources over expenditures
(75,692)
(1,578,362)
Fund balances, beginning of year
4,581,489
6,159,781
Fund balances, end of year
$ 4,505,797
4,581,419
0.1
1
1
1
1
1
1 STATISTICAL SECTION
1
1
1
1
1
1
1
1
1
1
1
1
1
1
STATISTICAL SECTION
(UNAUDITED)
105
CITY OF ALLEN, TEXAS
General Governmental Expenditures by Function (Note A)
(Unaudited)
Last Ten Fiscal Years
Fiscal
General
Public
Public
Culture and
Community
year
government
safety
works
recreation
development
1990
$ 715,958
2,664,337
392,944
934,565
333,245
1991
862,415
2,918,733
359,739
1,092,266
339,926
1992
815,243
2,974,389
354,775
1,092,446
395,062
1993
848,349
3,116,234
445,708
1,206,176
410,828
1994
892,067
33,524,883
499,867
1,143,493
456,149
1995
1,534,808
4,028,945
541,827
1,465,860
545,331
1996
1,257,365
4,339,685
542,141
17,648,576
587,059
1997
1,788,174
5,620,122
585,179
2,133,283
674,604
1998
2,126,443
6,911,125
675,079
2,541,508
748,510
1999
2,657,125
8,006,330
854,907
2,913,149
618,812
Source: Current year and prior year combined financial statements
Note:
(A) Includes General, Special Revenue and Debt Service Funds
106
Table 1
Capital
Debt
outlay
service
Total
5,201
2,404,593
7,450,843
60,555
2,403,238
8,036,872
1,443,876
2,399,566
9,475,357
389,939
2,801,470
9,218,704
—
2,403,619
38,920,078
158,959
3,005,147
11,280,877
758,278
3,007,485
28,140,589
980,289
3,620,852
15,402,503
678,761
3,643,055
17,324,481
254,693
4,451,686
19,756,702
107
CITY OF ALLEN, TEXAS
General Governmental Revenues by Source (Note A)
(Unaudited)
Last Ten Fiscal Years
Fiscal
Licenses
Inter-
Charges for
Fines and
year
Taxes (B)
and permits
governmental
services
forfeitures
1990 $
6,619,013
162,788
3,055
148,778
131,337
1991
67,048
207,765
-
162,024
147,777
1992
7,201,152
356,249
42,069
154,597
144,938
1993
7,953,560
555,143
57,137
207,154
175,066
1994
8,563,016
706,120
28,121
92,418
177,323
1995
9,200,266
615,891
-
9,293
202,345
1996
10,757,710
922,138
-
112,972
310,318
1997
12,002,526
1,026,175
-
243,417
332,385
1998
13,976,651
1,842,603
-
287,020
465,756
1999
16,607,129
2,006,937
-
358,597
671,934
Note:
(A) Includes General, Special Revenue and Debt Service Funds.
(B) Includes ad valorem, penalty and interest, franchise and sales tax. General and Debt Service Funds
(C) Includes gifts and contributions.
108
Table 2
Gifts and
contributions
Interest
Miscellaneous
Total
—
213,901
123,721
7,402,593
—
191,869
279,654
1,056,137
—
147,550
154,953
8,201,508
—
151,747
388,154
9,487,961
—
209,376
711,445
10,487,819
—
420,387
866,113
11,314,295
473,570
510,363
13,087,071
—
451,499
909,111
14,965,113
685,217
521,151
459,825
18,238,223
254,693
478,640
653,506
21,031,436
109
CITY OF ALLEN, TEXAS
Ad Valorem Tax Levies and Collections
(Unaudited)
Last Ten Fiscal Years
Fiscal
Total
Current tax
year
tax levy
collections
1990
$ 5,536,801
5,203,816
1991
5,267,589
5,266,395
1992
5,423,882
5,483,917
1993
5,578,141
5,578,440
1994
5,770,930
5,770,699
1995
6,380,680
6,363,231
1996
7,139,479
7,142,679
1997
8,092,555
8,056,575
1998
9,107,745
9,102,700
1999
10,823,366
10,762,014
Percent
Delinquent
of levy
tax
Total tax
collected
collections
collections (1)
93.99%$
227,817
5,431,633
99.98%
101,184
5,367,579
101.11%
190,813
5,674,730
100.01%
31,752
5,610,192
100.00%
14,349
5,785,048
99.73%
19,016
6,382,247
100.04%
50,451
7,193,130
99.56%
80,355
8,136,930
99.94%
27,067
9,129,767
99.43%
68,580
10,830,594
(1) Includes penalty and interest collections. Such amounts are recorded with
ad valorem tax revenue in the combined financial statements.
110
Table 3
'
Percent of
Percent of
outstanding
total tax
Outstanding
delinquent
'
collections
delinquent
taxes to
to tax levy
taxes
tax levy
'98.10%$
13,883
0.25%
101.90%
14,856
0.28%
'
104.62%
14,065
0.26%
100.57%
7,957
0.14%
'
100.24%
6,349
0.11%
100.02%
4,626
0.07%
'
100.75%
8,158
0.11%
100.55%
12,131
0.15%
'
100.24%
38,701
0.42%
'
100.07%
72,467
0.67%
CITY OF ALLEN, TEXAS
Assessed and Estimated Actual Value of Taxable Property
(Unaudited)
Last Ten Fiscal Years
Total
(1) Represents total assessed value before expiration.
Source: City of Allen
112
Estimated
actual value
806,715,952
765,415,407
741,981,113
728,216,890
779,885,438
891,654,515
1,073,605,805
1,248,851,016
1,566,233,175
1,882,324,508
Table 4
Ratio of total
assessed to
total estimated
actual value
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
Real and
personal
Property
assessed
Fiscal year
value (1)
1990 $
806,715,952
1991
765,415,407
1992
741,981,113
1993
728,216,890
1994
779,885,438
1995
891,654,515
1996
1,073,605,805
1997
1,248,851,016
1998
1,566,233,175
1999
1,882,324,508
(1) Represents total assessed value before expiration.
Source: City of Allen
112
Estimated
actual value
806,715,952
765,415,407
741,981,113
728,216,890
779,885,438
891,654,515
1,073,605,805
1,248,851,016
1,566,233,175
1,882,324,508
Table 4
Ratio of total
assessed to
total estimated
actual value
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
Fiscal
Geweral
year
food
1990 f
0.370894
1991
0.3759%
1992
0410900
1993
0.437900
1994
0431200
1995
0.378050
19%
0383710
1997
0.358430
1998
0348670
1999
0.350050
Table 5
CITY OF ALLEN, TEXAS
Property Tax Rates - Direct and Overlapping Governments
(Unaudited)
Last Ten Fiscal Years
' Note. Rmes are based per SI00 vdumion.
In 1992, a new maing entity (County Education disuict) was established by the State of Texas. County education district lakes were initidly
levied and collected during fiscal year 1993. The legislation which created County education districts wm declared unconstitutional by the
' Texas Supreme Court, and a new State Ponding method was enacted for fiscal yew 1995.
Source: City of Allan
1
1
1
1
1
1
113
Collin County
Debt
Community
rzrvitt
Alleo
Collin
College
food
Total
LS.D.
Canny
District
Total
0.297206
0.66810
1.4400
0.2038
008500
2.39690
0.312180
0.68817
1.54011
02172
0.09138
2.53675
0.320100
0.73100
14900
0.2209
0.09138
2.53328
0.328100
076600
1.5500
02600
0.09855
267455
0308800
0.74000
1.6686
02600
0.09855
2.76715
0.337550
0.715M
16686
0.2600
0.09855
2.74275
0.2812%
0.66500
16050
0.2600
0.09855
2.62855
0.289570
0.64800
16900
02600
009855
2.69655
0.231910
0.58058
I.Mil
0.2600
0.09855
2.60023
0.224950
0.57500
1.7369
0 2500
009855
2 66045
' Note. Rmes are based per SI00 vdumion.
In 1992, a new maing entity (County Education disuict) was established by the State of Texas. County education district lakes were initidly
levied and collected during fiscal year 1993. The legislation which created County education districts wm declared unconstitutional by the
' Texas Supreme Court, and a new State Ponding method was enacted for fiscal yew 1995.
Source: City of Allan
1
1
1
1
1
1
113
CITY OF ALLEN, TEXAS
Ratio of Net General Bonded Debt to Taxable Value
and Net Bonded Debt Per Capita
(Unaudited)
Last Ten Fiscal Years
(1) Source: Census results/North Central Texas Council of Governments.
(2) Includes all general obligation bonds.
(3) Represents assessed value less exemptions.
(4) Source: Current and prior year financial statements.
• Information not available
114
Gross
Less
general
debt
Net
Fiscal
Estimated
Taxable
bonded
service
bonded
year
population (I)
value (3)
debt (2)
fund
debt
1990
18,964 $
806,715,952
18,500,000
238,285
18,261,715
1991
19,939
765,415,407
17,690,000
288,013
17,401,987
1992
21,098
741,981,113
16,800,000
301,934
16,498,066
1993
22,728
728,216,890
21,903,921
401,949
21,501,972
1994
24,493
779,885,438
20,798,921
469,120
20,329,801
1995
27,219
891,654,515
26,398,921
594,510
25,804,411
1996
29,468
1,073,605,805
32,033,921
765,253
31,268,668
1997
32,539
1,248,851,016
30,323,921
838,686
29,485,235
1998
35,744
1,566,233,175
38,413,921
1,017,694
37,396,227
1999
43,686
1,882,324,508
49,608,921
937,386
48,671,535
(1) Source: Census results/North Central Texas Council of Governments.
(2) Includes all general obligation bonds.
(3) Represents assessed value less exemptions.
(4) Source: Current and prior year financial statements.
• Information not available
114
Ratio of
net bouded
Net bonded
debt to
debt
taxable value
per capita
0.02264
962.97
0.02274
872.76
0.02224
781.97
0.02953
946.06
0.02607
830.02
0.02894
948.03
0.02912
1061.11
0.02361
906.15
0.02388
1046.22
0.02585
1114.12
115
Table 6
CITY OF ALLEN, TEXAS
Table 7 11
Computation of Legal Debt Margin
t
(Unaudited)
September 30, 1999
'
Article XL Section 5 of the Texas Constitution, applicable to cities of more than 5,000 population: $2.50 '
per $100.00 assessed valuation. The City Charter of the City of Allen, Texas, does not provide for a debt
limit. The City tax rate of $0.57500 per $100.00 assessed valuation is 23.22% of the constitutional limit '
for operation and debt service.
116 1
Table 8
CITY OF ALLEN, TEXAS
Computation of Direct and Overlapping Debt
(Unaudited)
September 30, 1999
(1) Includes all general obligation debt which is to be repaid through property taxes.
Percentage
Amount
(1)
applicable to
applicable to
Gross debt
City of
City of
outstanding
Allen
Allen
City of Allen
$ 49,608,921
100%
49,608,921
Allen I.S.D.
159,351,976
100%
159,351,976
Collin County
149,431,666
6.95%
10,385,501
Collin County Community
25,437,762
6.95%
1,767,924
Total direct and overlapping debt
$ 383,830,325
221,114,322
Average debt per capita
$ 8,786
(1) Includes all general obligation debt which is to be repaid through property taxes.
Table 9
CITY OF ALLEN, TEXAS
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General
Governmental Expenditures
(Unaudited)
Last Ten Fiscal Years
Table includes General and Debt Service Funds.
118
Ratio of
debt service
Total general
to general
Fiscal
Total debt
governmental
governmental
year
Principal
Interest
service
expenditures
expenditures
1990 $
739,000
1,656,287
2,395,287
7,450,843
0.32148
1991
810,000
1,582,907
2,392,907
8,036,872
0.29774
1992
890,000
1,502,339
2,392,339
9,475,357
0.25248
1993
980,000
1,412,589
2,392,589
9,218,704
0.25954
1994
1,105,000
1,294,973
2,399,973
8,920,078
0.26905
1995
1,195,000
1,204,232
2,399,232
11,260,877
0.21306
1996
1,465,000
1,539,912
3,004,912
12,256,870
0.24516
1997
1,710,000
1,906,985
3,616,985
15,402,503
0.23483
1998
1,927,980
1,715,075
3,643,055
17,324,481
0.21028
1999
2,145,000
2,306,686
4,451,686
19,756,702
0.22520
Table includes General and Debt Service Funds.
118
I
Table 10
'
Commercial
Total
CITY OF ALLEN, TEXAS
Fiscal
Property Values, Construction end Bank Deposits
Permits
(Unaudited)
Value
Last Ten Fiscal Years
'
Commercial
Total
Residential
Fiscal
Assessed
Permits
year
Value
'
1990 $
806,715,952
22
1991
765,415,407
45,816,464
233
2,339,304
1,175
1992
741,981,113
'
1993
728,216,890
332
1994
779,885,438
119,699,855
1995
891,654,515
2,259
1996
1,073,605,805
'
1997
1,248,851,016
386
1998
1,566,233,175
'
1999
1,882,324,508
Construction (1)
Number
Commercial
Number
Residential
Permits
Value
Permits
Value (2)
167
$ 2,080,077
844 $
36,937,538
22
5,024,426
887
45,816,464
233
2,339,304
1,175
57,715,269
321
23,820,557
1,514
74,697,229
332
9,239,371
2,411
119,699,855
333
13,491,728
2,259
104,305,165
319
36,369,959
2,803
164,855,137
386
75,998,593
2,487
158,480,566
468
56,481,429
3,360
209,691,408
133
116,245,279
1,298
209,732,070
(1) Source: City of Allen - Building Inspections (includes all permits)
(2) Includes new construction, alterations, add-ons and improvements.
119
Table 11
CITY OF ALLEN, TEXAS
Principal Taxpayers
(Unaudited)
September 30, 1999
Source: City of Allen
120
Percentage
1998
of Taxable
Assessed
Assessed
Taxpayer
Type of Business
Valuation
Valuation
Allen Office Inv. Ltd. Partners
Developers $
27,254,016
1.45%
Janice Brittingham
Individual
24,565,655
1.31%
Windsor Settlers Gate Ltd. PSP
Apartment Complex
23,407,247
1.24%
Texas Utilities Electric Co.
Electric Utilities
17,783,106
.94%
Southwestern Bell
Telephone Utilities
17,542,490
.93%
Lyric
Entertainment Production Co.
15,532,986
.83%
Photronics-Toppan TX Inc.
Semiconductor Manufacture
11,515,546
.61%
Cumberland Windsong Partners
Apartment Complex
11,495,210
.61%
Twin Creeks Partnership LP
Developers
8,300,496
.44%
FSI International Inc.
Semiconductor Manufacture
7,766,823
.41%
Total
$
165,163,575
8.77%
Source: City of Allen
120
Table 12
CITY OF ALLEN, TEXAS
Miscellaneous Statistical Facts
(Unaudited)
September 30, 1999
Date of incorporation
July 1, 1953
Form of government
Council/Manager
Area
27.1059 square miles
Miles of street
175 center line miles
Population estimate (1999)
43,686
Fire protection:
Number of stations
4
Number of personnel
66
Number of fire hydrants
2,150
Police protection:
Number of stations
1
Number of personnel
89
Water service:
Supplier
North Texas Municipal Water District
Number of consumers
13,181
Average daily consumption
N/A
Miles of water lines
199 linear miles
Sewer service:
Sanitary sewer lines
170 linear miles
Storm sewer lines
58 linear miles
Building permits issued
1,431
Parks:
Number
32
Area
587 acres
Municipal employees:
Full-time
292
Part-time
21
Temporary
89
Public education:
Number of colleges
0
Number of public schools
8 elementary, 2 middle schools,
I freshman center, 1 high school
Number of private schools
0
121
Table 13
CITY OF ALLEN, TEXAS
Demographic Statistics
Last Ten Fiscal Years
Fiscal
Estimated
Per Capita
School
Year
Population
Income
Enrollment (1)
1990
18,964
$ 16,040
5,234
1991
19,939
16,040
5,539
1992
21,098
16,040
5,914
1993
22,728
16,040
6,248
1994
24,493.
16,040
6,895
1995
27,219
16,040
7,531
1996
29,468
16,040
8,199
1997
32,539
16,040
8,781
1998
35,744
16,040
9,453
1999
43,686
16,040
9,940
(1) Source: Allen Independent School District
(2) Source: North Dallas Chamber of Commerce/North Central Texas Council of Governments
(3) Estimates by City, review of available census data and review of various City records.
122