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<br /> FINANCIAL INFORMATION
<br /> Table 6 - Condemed Statement of Operations (1) -
<br /> For Fiscal Year Ended September 30.
<br /> Revenues 1995(2) 1994 1993 1992 1991
<br /> Charges for Services S 6,912,967 S 6,453,916 S 6,664,517 S 4,796,240 S 4,717,306
<br /> Interc:st Income and Other 1.081.350 671.039 936.938 1.063.457 1.213.057
<br /> Total S 7.994.317 S 7.124.955 S 7.601.455 S 5.859.697 S 5.930.363
<br /> Exœnses S 519,400 S 477,219 S 466,293 S 370,322 . S o
<br /> F raru:hise Taxes 1,147,617 1,045,427 1,014,659 1,171,390 1,090,292
<br /> Personnel Services 1,859,167 1,523,465 1,184,256 816,127 579,536
<br /> Contracted Services 528,455 527,071 462,371 480,532 417,991
<br /> Materials and Supplies 1.920.288 1.599.406 1.365.146 769.679 563.024
<br /> Other Charges S 5.974.927 S 5.172.588 S 4.492.725 S 3.608.050 S 2.650.843
<br /> Total
<br /> Net Available far Debt Service $2019390 S 1 952 367 $ 3108730 S 2 251 647 S 3 279 520
<br /> Metered Water Customers 6,144 6,030 5,929 5,921 5,848
<br /> Metered Sewer Customers 5,807 5,710 5,616 5,593 5,560
<br /> (1) Excludes depreciation expenses and debt service costs.
<br /> (2) Unaudited.
<br /> Table 7 - Coverage snd Fund Balances (1)
<br /> Average Annual Principal and Interest Require:m.ents, 1996-2009..................................................................... S 1,243,011
<br /> Coverage of Average Requirements by 1995 Net Income ..........................,.......,................,...........~,................, 1.62 Times
<br /> M.a.ximum Principal and Interest Requirements, 2005....................................................................................... S 2,132,922
<br /> Coverage of Maximum Requirements by 1995 Net Income ............................................................................... 0.94 Times
<br /> Water and Sewer System Revenue Bonds Outstanding after the Issuance of Bonds ........................................... S 16,810,000
<br /> Interest and Sinking Fund, 2-31-96....,.....,......",..,...................,.....,..........,...,....","""""""""""""""""""" '" S 525,000
<br /> Reserve FUDd, 2-31-96 ....,..............................................................................,........,,................................... ... S (2)
<br /> (1) Estimated, includes the Bonds and the revenue bonds being issued through the Texas Water Development Board's SRF
<br /> program.
<br /> ¡ (2) CUITent reserve requirement satisfied with a surety policy.
<br /> Financial Administration. . . The financial administration of the City is vested in the Department of Finance. The department
<br /> of Finance operates under the Direct of Finance, who is appointed by the City Manager. Required activities of the Department
<br /> of Finance are control, custody and disbursement of City funds, as...,."..."."""t and collection of taxes and issuance of licenses.
<br /> Other activities of the Department of Finance include municipal court, utility billing and collections, internal service fund
<br /> operation, annual budget preparation and interim and annual financial reports.
<br /> Financial Policies
<br /> Basis of Accounting. . . The City's accounting records of the governmental fund revenues and expenditures are recognized on
<br /> the nwdified ~ basis. Revenues are recognized in the accounting period in which they are available and measurable.
<br /> Expenditures are reCognized in the accounting period in which the fund liability occurred, if measurable, except for umnatured
<br /> interest on genera11ong-term debt
<br /> Proprietary Fund revenues and expenses are recognized on the full accrual basis, Revenues are recognized in the accounting
<br /> period in which they are earned and berome measurable. Expenses are recognized in the accounting period in which they are
<br /> incurred.
<br /> Fund Balances . . . It is the City's policy regarding the GenemI. Fund and Enterprise Funds that working capital resources
<br /> should be maintBined at a minimum of 120/0-15% of the Funds' operating expenditure budget The City maintß.ÌDs its various
<br /> debt service funds in accordance with the covenants of the bond ordirumc.es.
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