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Comprehensive Annual Financial Report City of Austin, Texas

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Comprehensive Annual Financial Report City of Austin, Texas Comprehensive Annual Financial Report City of Austin, Texas For the year ended September 30, 2000 Preparedby: FinancialServices Department John Stephens, CPA Director Barbara Nickle, CPA Controller City Council Kirk Watson Mayor Jackie Goodman Mayor Pro Tem Councilmembers Raul Alvarez Beverly Griffith Daryl Slusher Danny Thomas Will Wynn Jesus Garza City Manager CITY OF AUSTIN, TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended September 30, 2000 TABLE OF CONTENTS INTRODUCTION Exhibit Page -- i Letter of Transmittal -- xiv Certificate of Achievement -- xv City Organization Chart FINANCIAL SECTION Independent Auditors' Report xvii GENERAL PURPOSE FINANCIAL STATEMENTS 2 All Fund Types and Account Groups - Combined Balance Sheet A-1 All Governmental Fund Types and Expendable Trust Funds - Combined Statement of Revenues, Expenditures and Changes in Fund Balances A-2 8 General Fund, Special Revenue Funds and Debt Service Fund - Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual-Budget Basis A-3 10 All Proprietary Fund Types and Similar Trust Funds - Combined Statement of Revenues, Expenses and Changes in Retained Earnings/Fund Balances A-4 12 All Proprietary Fund Types and Similar Trust Funds - Combined Statement of Cash Flows A-5 14 Notes to Combined Financial Statements: Note 1 Reporting Entity 18 Note 2 Significant Accounting Policies 18 Note 3 Budget Basis Reporting 27 Note 4 Deficits in Fund Balance and Retained Earnings 30 Note 5 Pooled Investments and Cash 31 Note 6 Investments and Deposits 31 Note 7 Property Taxes 33 Note 8 Fixed Assets 34 Note 9 Retirement Plans 35 Note 10 Selected Revenues 38 Note 11 General Long-Term Debt 39 Note 12 Enterprise Funds -- Revenue Bonds and Other Long-Term Debt 42 Note 13 Conduit Debt 48 Note 14 Debt Service Requirements 50 Note 15 Interfund Receivables and Payables 56 Note 16 Interfund Transfers 58 Note 17 Segment Information 60 Note 18 Joint Operations 61 Note 19 Litigation 63 Note 20 Commitments and Contingencies 63 Note 21 Other Post-Employment Benefits 69 Note 22 Subsequent Events 70 CITY OF AUSTIN, TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended September 30, 2000 TABLE OF CONTENTS FINANCIAL SECTION, Continued Exhibit Page SUPPLEMENTAL INFORMATION GOVERNMENTAL FUNDS General Fund Balance Sheet B-1 71 Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual-Budget Basis B-2 72 Schedule of Revenues - Budget and Actual-Budget Basis B-3 73 Schedule of Expenditures - Budget and Actual-Budget Basis B-4 74 Schedule of Transfers - Budget and Actual-Budget Basis B-5 77 Special Revenue Funds Combining Balance Sheet C-1 79 Combining Statement of Revenues, Expenditures and Changes in Fund Balances C-2 80 Combining Balance Sheet - All Special Revenue Grants C-3 81 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - All Special Revenue Grants C-4 82 Combining Schedule of Expenditures - All Special Revenue Grants C-5 83 Enterprise Related - Combining Balance Sheet C-6 84 Enterprise Related - Combining Schedule of Expenditures C-7 85 Other - Combining Balance Sheet C-8 86 Other - Combining Statement of Revenues, Expenditures and Changes in Fund Balances C-9 88 Other - Combining Schedule of Revenues, Expenditures and Transfers - Budget and Actual-Budget Basis C-10 90 Debt Service Fund Combining Balance Sheet D-1 93 Combining Statement of Revenues, Expenditures and Changes in Fund Balances D-2 94 Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual-Budget Basis D-3 95 Capital Projects Funds Combining Balance Sheet E-1 98 Combining Statement of Revenues, Expenditures and Changes in Fund Balances E-2 99 Combining Balance Sheet E-3 100 Combining Statement of Revenues, Expenditures and Changes in Fund Balances E-4 106 CITY OF AUSTIN, TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended September 30, 2000 TABLE OF CONTENTS FINANCIAL SECTION, Continued Exhibit Page PROPRIETARY FUNDS Enterprise Funds Combining Balance Sheet F-1 114 Combining Statement of Revenues, Expenses and Changes in Retained Earnings F-2 120 Combining Statement of Cash Flows F-3 122 Combining Schedule of Changes in Fixed Assets and Accumulated Depreciation F-4 128 Internal Service Funds Combining Balance Sheet G-1 134 Combining Statement of Revenues, Expenses and Changes in Retained Earnings G-2 136 Combining Statement of Cash Flows G-3 138 Combining Schedule of Changes in Fixed Assets and Accumulated Depreciation G-4 142 FIDUCIARY FUNDS Trust and Agency Funds Combining Balance Sheet H-1 146 Expendable Trust Funds Combining Balance Sheet H-2 147 Combining Statement of Revenues, Expenditures and Changes in Fund Balances H-3 148 Agency Funds Combining Balance Sheet H-4 150 Combining Statement of Changes in Assets and Liabilities H-5 151 ACCOUNT GROUPS General Fixed Assets Schedule of Changes in General Fixed Assets I-1 153 General Long-Term Debt Schedule of Changes in General Long-Term Debt 1-2 154 SUPPLEMENTAL SCHEDULES Schedule of General Obligation Bonds Authorized and Unissued J-1 155 Schedule of Revenue Bonds Authorized, Deauthorized and Unissued J-2 156 CITY OF AUSTIN, TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT Year Ended September 30, 2000 TABLE OF CONTENTS STATISTICAL SECTION - UNAUDITED Exhibit Page General Government Total Expenditures and Expenditures Per Capita 1 160 General Obligation Net Debt and Net Debt Per Capita 2 161 City of Austin Employees Per Capita 3 162 Ratio of General Fund Unreserved Ending Balance to General Government Annual Expenditures 4 163 Table Page General Government Expenditures by Function 1 164 General Government Expenditures by Function (Constant Dollars) 2 166 General Fund Revenues and Other Financing Sources by Source 3 167 Assessed Valuation, Estimated Market Value, Tax Rates, Tax Levies, and Tax Collections 4 168 Principal Taxpayers 5 169 Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita 6 170 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Fund Expenditures 7 171 Computation of Legal Debt Margin 8 172 Computation of Direct and Overlapping Debt 9 173 Property Tax Rates and Tax Levies for Direct and Overlapping Governments with Applicable Percentages Over 10% 10 174 City Sales Tax - Tax Levied Effective January 1, 1968 11 175 Electric Fund and Water and Wastewater Fund - Miscellaneous Statistics 12 176 Electric Fund and Water and Wastewater Fund - Five-Year Comparative Operating Statement 13 177 Electric Fund and Water and Wastewater Fund - Plant Cost and Equity in Utility Systems 14 179 Schedule of Combined Utility Systems Revenue Bond Coverage 15 180 Transfers from Electric Fund and Water and Wastewater Fund to General Fund 16 181 Electric Fund and Water and Wastewater Fund - Statistical Data 17 182 Electric Fund and Water and Wastewater Fund - Large Customers 18 183 Schedule of Insurance in Force 19 184 Hotel-Motel Occupancy Tax - Tax Levied Effective January 1, 1971 20 186 Miscellaneous Statistical Data 21 187 Miscellaneous Statistical Data - Economic and Growth Indicators 22 188 Miscellaneous Statistical Data - Employment Characteristics 23 189 Elements of Budget Fund Balance for Selected Operating Funds 24 190 INTRODUCTION City of Austin 0•"Founded by Congress, Republic of Texas, 1839 Municipal Building, Eighth at Colorado, P.O. Box 1088, Austin, Texas 78767 March 7, 2001 Honorable Mayor and Councilmembers City of Austin, Texas We are pleased to submit to you the 2000 Comprehensive Annual Financial Report of the City of Austin, Texas. The report was prepared by the Controller's Office of the Financial Services Department. The combined financial statements and related notes have been jointly audited by the independent firms of Certified Public Accountants, KPMG LLP, and Richard Mendoza, CPA, whose report is included herein. This audit satisfies Article VII, Section 16 of the City Charter, which requires an annual audit of all accounts of the City by an independent Certified Public Accountant. The Federal awards received by the City directly from Federal agencies or passed through by the State of Texas or other governmental entities during fiscal year 2000 are being audited under the provisions of the Single Audit Act of 1996, as amended, and State awards are being audited under the provisions of the State of Texas Single Audit Circular. The reports (the "Single Audit Reports") will be available under separate cover. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentations, including all disclosures, rests with the City. We believe the data, as presented, are accurate in all material respects and are presented in a manner which fairly sets forth the financial position and results of operations of the City. Furthermore, we believe that all disclosures necessary to enable the reader to gain an understanding of the City's financial activity have been included. These financial statements have been prepared in accordance with generally accepted accounting principles for local governments as prescribed by the Governmental Accounting Standards Board (GASB) and the American Institute of Certified Public Accountants (AICPA). The City received a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for its 1999 Comprehensive Annual Financial Report (CAFR). A Certificate of Achievement is valid for a period of one year only. City management
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