The URL can be used to link to this page

Home My WebLink AboutFY Ended September 30, 1984TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 FINANCIAL STATEMENTS AND SUPPLEMENTARY SCHEDULES YEAR ENDED SEPTEMBER 30, 1984 with REPORT OF CERTIFIED PUBLIC ACCOUNTANTS TABLE OF CONTENTS Page - ~epdrt of certified public account ants 1 Financial section Combined balance sheet - all funcl types and account groups 2- 3 Combined statement of revenues, espenditures, and changes in fund balances - all governmental fund types 4- 5 Combined statement of revenues, expenditures and changes in fund balance - budget and actual - General Water and Sewer Fund Notes to combinecl financial statements 8-14 Supplemen-taiy sclieclules Analysis of changes in cash and temporary investments - all. funds General. long-term debt service requirements - by years Analysis 01 changes in general long-term debt Schedule of tc;nporary investmelits Analysis of taxes receivable Analysis of orgnnizational costs Sc11eclul.e of notes payable Analysis 01 changes in general fixed assets Comparative statement of revenues and espenditures - period and three years Insurance coveragc Board members, key administrative personnel and consultants Questionnaire to be completed by auditor Certificate of the Board of Directors CERTIFIED PUBLIC ACCOUNTANTS 3015 WEST FIFTH STREET FORT WORTH,TEXAS 76107 817/338-0061 Board of Directors Trophy Club Municipal Utility District No. 1 Roanoke, Texas We have examined the accompanying combined financial statements of Trophy Club Municipal Utility District No. 1 at September 30, 1984, and for the year then ended listed in the foregoing table of contents under the caption "Financial Section." Our examination mas made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we con- sidered necessary in the circumstances. In our opinion, the combined financial statements re- ferred to above present fairly the financial position of Trophy Club Municipal Utility District No. 1 at September 30, 1984, and the results of its operations for the year then ended, in con- formity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Our examination was made for the purpose of forming an opinion on the combined financial statements, taken as a whole. The accompanying supplementary schedules listed in the table of contents, pages 15 through 32 are presented for purposes of additional analysis and are not a required part of the combined financial statements. Such information has been subjected to the auditing procedures applied in the esamination of the combined financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole. TROPHY CLUB hlUNICIPAL UTILITY DISTRICT NO. 1 COhlBINED BALANCE SIIEET - ALL FUND TYPES AND ACCOUNT GROUPS September 30, 1884 ASSETS CO~PC"~ assets Cnsb : Unrcstricrcd cash Restricted cash RestricLed rcmporary investments, nt cost Total cash and temporary iavestmcsts ilccouats receivable and nccrued revenue Prepaid insurance Interiund receivables Gcircrnl fixed assets (Notes 3, 4 and 8) Iliti~n~iblc nnd otlier asscrs Provision lor llonded debt Aliloutit av~lliiblc for rctll.cmerit oi gcncrnl long-term debt Amorlnt to bc provlded lor rctlrenicllt of gcncral 1oo~-term debt Governmanin1 iund types dcfount E~OUPS General Debt C;ipital General Geiieral l\':~ter and Scrvice P~mjccts iiscd long-term Puod Sewer Fund - Fund nsaets dcbi TROPliY CLUB blUNICIPAL UTILITY DISTRICT X0. 1 COhlBImD BALANCE SIlCET - ALL FUND TYPES AND ACCOUNT GROUPS September 30, 1988 (Continued) LIABILI'PIES Co~.i.cnt liiibilitics iiccounts pnpnble niid nccrued e:ipceses Reiundnblc deposits 11) Lerfunrl pnynbles noiiris due within onc scar (Note 5) Total current linbiliries Notes piiynl,lc Deferred income Bondcd dcbL posz~blo (Notc 5) Total liubilities Commitments (Noic 7) FUND EQUITY Investment in general fined nssets Fund balances: Rescvved for customer deposits Reserved fur debt service Unrestricted Totnl fund bnlvnccs Total fund equity Totnl linbiliries and fund equirg Tottils Governmcnivl fund igpcs Account groups (incrnarnndum ooly) Gcncrnl Dcbt Cupitnl Gcnernl Gciier;~l Sear cnded Pei'iod ended rater and Scraicc Proje,:ts Cised 10s~-tsris ScpZcrnbcr 30, Selltciiiller 30, Scmcr Fund __ Fund assers debt l98*! I983 iiU"ll ___ 30.970 - 74,721 - - 105,GLll R?, 118 - 1,648,1'17 - - . 1,G1R,1,17 1,69?,R00 176.397 - - - - 156,397 3'1,518 See nccompanying notes. -3- TROPIIY CLUB LIUNICIPAL UTILITY DISTRICT NO. 1 CObl8INED STATEhlENT OF REWNUES, ESPEhVITURES. AND CllANGES IN FUND BALANCES - ATIL GO\Wt?IIIENTAL FUND TYPES Ycnr ended September 30, 1984 Tot R~S Garcrnscntnl fund types (memorandum only) General Dcbt CapiLtil Year ended Period ended YIarer nnd Service Projects Scptcmi>fr 30, Scptesbcr 30, Seiiwr Fund Fund lirilld 1884 1883 RCI.CI~UCS Service revenues (Note 6) Tnp cannfcLiall rclrciiuos TRS revenues (?lotc 8) Peii;!lty rcvennc Esponse rclznburscii~cc~Ls hliscc1l:lnco"s Payroll esponses Emplopec benefits ProTcssionnl fees Capitnl oilrlny Utilities Recurring opcraLing espcnscs Tos nssessor-collector Iliscollaneaus Dcbr servicc: Principal rctiremeiir Interest and fiscal cliorges Total expenditures Esccss (dcflclency) of revenues over cspenditurcs TROPIIY CLUB LliiNICIPAL UTILITY DISTRICT NO. 1 COSIBINED STATLLIENT OF RZVENUES, EXPENDITURES, ,\NO CIIBNGES IN FUND BALANCES - i\LL GOVERNhIENTAL FUND TYPES Ycar ended Scptcmber 30, 1984 (Conrii~ocd) T~tals Governmcnral fund typcs (mcmar;indum only) General Debt Capital Ycar ended Period cndctl ; d Service P~.nJccls Septclnber 30, Septernbcr 30, F0,ld Scl!ver Fund ___ Fund 108'1 1983 Orlier linilnciug sources (uses): l'rocccds of geiiefs~l ablie.?cion bond issuc S - S - S - 4 . S 3,165,767 Inicrcst on rernporary iiivestrnenti: 6,662 147,971 8,457 103,090 68,039 O[ici.iltiiig trnnsLers in 32,825 - - 32,825 602,401 Opcrnting transiera out - (32.925) - (32,925) (510,79'1 TOLL^^ ozlicr iliiilrlcing sources (uses) 30,567 ll5,0'!6 8,457 163,000 3,336,526 Escess (deficiency) of revenues and other financing sourccs over c.il~enditul.U iiild otlicf USES Fund balanccs at beginning af pc:ir 50,372 1,682,800 66,264 1.809,.136 1,?B0, 4.19 See Rccompnnyinp notes -5- TROPHY CLUB RTUNICIPAL UTILITY DISTRICT NO. 1 CORIBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL WATER AND SEWER FUND Year ended September 30, 1984 General \\later and Sewer Fund Variance favorable - Budget Actual (unfavorable) Revenues : Water and sewer service (Note 6) Inspection and tap fees Miscellaneous Total revenues Espenditures : Water and Sewer Department: Salaries, wages, benefits and tases Water purchases and power (!slater, sewer, utilities and telephone) Consumable supplies Maintenance and repairs Other espenses Total Water and Sewer Department Administrative: Salaries, wages, benefits and tases Professional fees: Legal Auditor Engineering Maintenance Printing and off ice supplies Postage Utilities and telephone Insurance and bonds Travel and seminars Other expenses Total administrative TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. I COtvlB IhqD STATERlENT OF REVENUES, EXPENDITURES AKD CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL WATER AND SEII'ER FUh9 Pear endecl September 30, 1984 (Continued) General. llater and Sewer Fund Variance favorable - Budget Actual (unfavorable) Expenditures: (continued) Fire Department: Professional fees - legal 3 - $ 1,134 $ (1,134) Fuel and supplies 6, GOO 1,352 5,248 Maintenance and repairs 3,120 5,161 (2,041) Insurance and bonds 3,600 3,258 342 Capital iml>rovement s 16,100 14, 864 1,236 Other expenses 2,660 975 1,685 Total Fire Department 32,080 26,744 5,336 Total expenditures 441,288 547,891 (106,603) Excess (deficit) of revenues over expenditures (24,396) 38,433 62,829 Other financing sources: Reimbursement of expenditures 83,494 85,636 2,142 Transfers in 32,080 32,926 8 46 To-tal other financing sources 115,574 118,562 2,988 Excess (deficiency) of revenues and other financing sources over expenditures and other uses 91,178 156,995 65,817 Fund balance at beginning of gear 50,372 50,372 - Fund balance (deficit) at end of year S 141,550 $ 207,367 S 65,817 See accorn],a~lying notes. ,- -1- TROPI-IY CLUB hlUNICIPAL UTILITY DISTRICT NO. 1 NOTES TO COBiBINED FINANCIAL STATEMENTS September 30, 1984 1. Summary of accounting policies a. Descri.ption of funds - The District has established a number of funds, in conformance with generally accepted accounting prin- cj 11l.e~ and the recommenclatioi~s of the National Couilcil on Governmelltal Acco~u~ting, for the purpose of a.ccounting for transactions in compliance with legal requirements. Funds and account groups in use by the District in accounting for its financial activities are as follo!!rs: Governnient a1 funds General Water and Server Fund - To account for all of the genei-a1 water and senrer revenue of the District not specifi- cally levied or collected for other District funds, ancl for expenditures rel.ated to the ma.il~tenance of operations. Debt Service Fund - To account for the source and disposition of funds for paying interest ancl principal. 011 general loi?g-terin debt. Capital Pi-ojects Fund - To account Ior tl~c acquisition of capital facilities being f inanced from bond proceeds. Account groups General Fixed Assets Accounts - To account for property and equipment of the District. General Long-term Debt Accounts - To account for the unmatured principal of outstanding bonds. TROPHY CLUB bIUNICIPAL UTILITY DISTRICT NO. 1 NOTES TO COMBINED FINANCIAL STATEMENTS September 30, 19S4 1. Summary of accounting policies (continued) b. Basis of accounting - The District maintains its accounting records on the modified accrual basis whereby revenues and expenditures are recognized jn the accounting period in which they are earned or incurred with the exception of interest on general long-term debt and tax revenues which are recognized when due. c. Property, plant ancl equipment - Property, plant and equipment is recorded at cost when acquired. General fixed assets are recordecl as expenditures in the General Water and Sewer Fund and Capital Pro,jects Fund at the time of purchase ancl are capitalized in the General Fixed Assets Account group. Costs related to repairs and maintenance are recorded as expenditures. Significant renovations ancl improvements are capitalized. cl. Investments - Investments are carried st cost ~vhich approsirnates market. The District's i.nten-t is to hold these investments until maturity. e. Total colulnns on coinbined statenlellts - Total colutnns on the combined statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or changes in financial position in conformity with generally acceptecl accounting principles. Neither is such data comparable to a consoli- dation. Interfund eliminations have not been made in the aggregation of this data. TROPHY CLUB h1UNICIPAL UTILITY DISTRICT NO. 1 NOTES TO COMBINED FINANCIAL STATEMENTS September 30, 1984 1. Summary of accounting policies (continued) f. Retirement plan - The District adopted a defined contribution retirement plan in 19S4. Under the terms of the plan, a certain percent of eligib1.e salaries is contributed to the plan. 2. Creation of district - Trophy Club Municipal Utility District No. 1 was created by an order of the Texas Water Rights Commission on March 4, 1975, and confirmed by the electorate of Trophy Club Municipal Utility District No. 1 at a confirmation election held on October 7, 1975. The Board of Directors held its first meeting on April 24, 1975, ancl the first bonds were sold on June S, 1976. 3. Bond interest - In accordance with the bond resolution da-Led October 29, 1975, a portion of the bond proceeds was deposited into tile Debt Seroi.ce Fund for the payment of bond interest cluring the construe-tion period. This bond interest has been capitalized as an organizatiollal cost for the construction period. 4. Organiza-tionnl. costs - Tile District, in conformance with require- ~nents of the Texas \\later Rigl~ts Commission, capitalized and charged -to organization costs for the creation period all costs incurred in the creation of the District allo~ved by statute. The Texas Water Rights Comt~iission also requires capitalization as organizational costs for the construction period all costs incurred in the issue and sale of bonds, bond interest and amor-tized bond premium and discount, 1.osses on sales of investments, accrued interest on investments purchased, attorney fees ancl some acllninistrative expenses until construction and acceptance or use of the first revenue producing facility has occurred. As -the District purchased its facilities already completed by the developer, only those costs funded by bond proceeds were capitalized. TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. I NOTES TO COMBINED FINANCIAL STATEMENTS September 30, 1984 5. General long-term debt - At September 30, 1984, the District's 1-ong-term debt consisted of: Range of General interest long-tarn Current Long-tenn hlatw-ity rates del~t maturities mat~u-it ies Water rr01-k~ and sewer system combination unlimited ta~ and Serially revenue bnds tlwough 8.75 - series 1976 2006 9.25 $1,450,000 S 20,000 $1,460,000 Water ~\orlis ancl setver system combination unlimited tax md Serially revenue lmnds tlrough 8.60 - series 1980 2007 9.50 2,010,000 30,000 1,9SO,OOO \\'at er trorlis ancl sewer sj7stwn combination Serially revenue bnds througl~ 8.00 - series 1983 2002 10.00 3,200,000 65,000 3,135,000 A schedule of bond maturities for the nest five years is as follows: Tax and revenue bonds Year series 1976 - 1985 $ 152,425 1986 155,456 1987 153,269 1988 155,863 1989 153,238 Thereafter 2,656,523 Less interest 1,946,779 Principal $ 1,4S0,OOOO - - Tax and 'evenue bonds series 1980 Tax and revenue bonds series 1983 Tot a1 $ 360,383 $ 729,498 364,782 734,213 363,583 732,859 366,782 735,415 369,183 736,703 4,915,177 11,458,785 TROPIIP CLUB MUNICIPAL UTILITY DISTRICT NO. 1 NOTES TO COMBINED FINANCIAL STATEMENTS September 30, 1984 5. General long-term debt (continued) Tax and revenue bonds authorized and unissued as of September 30, 1984, amounted to $5,579,217. The bonds are payable from the proceeds of an ad valorem tax levied upon all property subject to taxation within the District, without limitation as to rate or amount, and are further payable from ancl secured by a lien on and pledge of the net revenues to be received from the operation of the District's waterworks and sanitary sewer system. The provisions of the bond resolutions 'elating to clebt service have been met ancl the cash allocated for these purposes is sufficient to meet clebt service requirements for the fiscal year ending September 30, 1985. The outstanding bonds are callable for 'edemption prior to ~uaturity at the option of the District. The bonds may be cal.led in whole or in part for the purpose of retirement or refuncling, or both, at par in addition to unpaid accrued interest. TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 NOTES TO COh,lBINED FINANCIAL STATEMENTS September 30, 1984 G. Water and sewer service rates - The Trophy Club klunicipal Utility District No. 1 has established the following water and sewer service rates: Tap fee $325.00 Semer inspection fee 15.00 Water service only: Treated water: First 4,000 gallons of water used - minimum bill Nest 10,000 gallons of water used - each 1,000 gallons Each 1,000 gallons of water used thereafter Untreated water: First 4,000 gal.lons of wa-ter used - minimum bill Each 1,000 gallons of water used thereafter Standby fee per month G.00 Setver charge per month - ~nini~iium bill 7.50 7. Com~nitments - The District has an agreeme~~t vith a developer whereby the developer awards contracts and makes progress payments to independent contractors for the construction of works, improve- ments, facilities, plants, equipment and appliances necessary to provide a v~aterworlcs system, sanitary sewer system, storm sewer and drainage system within said District. Upon the completion of a project and the authorization of a bond issue, the District is obligated to reimburse a percentage of the total cost of the project plus accrued interest from the date of the progress payments to the developer. Construction of an administrative complex was in progress at September 30, 1984. The District had funded their portion with excess funds from the last revenue bond sale. TROPHY CLUB k1UNICIPAL UTILITY DISTRICT NO. 1 NOTES TO COMBINED FINANCIAL STATEMENTS September 30, 1984 S. Changes in general fised assets - A summary of changes in general fised assets follows: Land Buildings Water system Sewage system Drainage system Machinery and equipment Autos and trucks Furniture and fixtures Engineering fees Capitalized construction period costs Construction in progress *Espenditures f ro~n general Balance September 30, 1983 water and sewer Additions (deletions) $ - - - - - 14, 627* GO, SOS* - - $ 75,435 fund Balance 9. Property taxes - Property taxes attach as an enforceable lien on property as of January 1, are due October 1, and become delinquent on February 1. Property taxes for the District are not limited as to rate or amount. The District's current tax rate is $.59S per $100 of assessed valuation and assessed valu- ation is approximately 100% actual value. 10. Retirement plan - The District contributed $6,800 to the newly established pension plan. As the plan was established in 1984, actuarial valuations are not available. SUPPLEMENTARY SCHEDULES OEG'9 SIT ST - - 9TT 'ST ~~9'81'3 SZE 'GZ - - SZE'SZ LsL'S~T'E - - - - SZE'GSE $ ZSO'SLZ'T$ LSP'S $ 622'989 $ 99ELESS$ - s7.r ESGT PSGT P und Puns puns ahl la^ 'OE .raqma$da~ 'o& xaqma~das sTaaCoq aayA-TaS PUB -TaTe,\\ papna por~ad papua zea~ ~erl.rde3 rl.qaa ~e.rauaf) (LTUO mnpueJomam) ST-eTOL $SGT 'OE JaC SaNIld ??V - SLNBWLSBANI A8880c T -ON L~I~LSI~ ALITI TROPIIY CLUB LIUNICIPAL UTILITY DISTRICT NO. 1 ANALYSIS OP CIIBNGES IN CASll AND TELIPORARY INVESThIENTS - ALL FUNDS Year ended Septeniber 30, 1984 General llater and Seii,eI- Fund Sources of cnsli nnd temporary invcstilients Cctsh receipts irom rcrcnucs 5583,366 Procccds from band salcs - Casil transfers from other funds 25,325 Refundable deposits 15,116 Total casii and 1 enlporary invcstmcn ts proi'ided 623,807 Bpplicntions oI cash and tenlllorary invcstlilcnts Cash disburseinents lor current espenditurcs .191,318 Cosh trnnsicrs to ocher funds - Pnyaciit oi bond principal - Reiuiid oi custoiner deposits 8,900 nciund of tas overpayments - Purcbasc ai fixed i~sset.5 by Generiil IV~ter and Sewer Fund - Total cash and ten!porilrl, investments applied 500,218 Incrcnse (decrcnse) in cnsh 2nd temporary invcstlncnts 123,589 Cash nnd temporary investment bnlai~ccs, bccinning oi yenr 64,266 Cosh and temporary investment baliinces, end a1 ycnr -- S-1- Dcbt Cnpitnl Year ended Period ended Service Projects Scptcmber 30, Scptcmbcr 30, Funti Fund 198.1 1983 TROPllY CLUB LlUAICIPAli UTILITY DISTnICT NO. 1 GENERAL LONG-TERM DEBT SERVICE REWIREIIENTS - BY YEARS Year ended Scptclnber 30, 1984 Scrics 1976 Series 1980 Series 1083 Due during fiscnl yenr.5 Princillal Interest Principal Intcrcst Principal Interest Totzil annu:ll cnding due due due due due due rcquiresents September 30. Llorch 1 September 1 Totnl Ilarch 1 September 1 % Ilnrch 1 Scpiember 1 irll series Z.l.,L648 &&I 2;3A!LD &!L!LL&O &Laod, SLl!s60.8& SL3rn000 3,538.8991 'iG222=~LE L1-5,127:,4173 Cmsb llnd Lsmpol.ni.p iaricsl:meoL l>nlniices ni September 30, 1983: Debt Service Fund ~SL,:l.'l 9L762 Cnsb and temporary ilivestinent balnnces at Septcmbcr 30, 1984: Debt Service Fund Sl1,1!?1H2Z% TBOPIIY CLUB 1,IUNICIPAL UTI1,ITY DISTRICT NO. 1 ANALYSIS OF CHANGES IN GENERAL LONG-TERM DEBT Year ended Scpternber 30, 198'1 Serics Sel'ics Serics I976 1980 12183 l'otnl - - - - Interest rate 8.75% 8.851 8.00% to 9.25;! LO 9.50% LO 10.00% Dntes intercst pnpnblc 311; 911 311; 911. 311; 911 Maturity dnres 311182 31118'1 311185 to 311106 lo 311107 LO 311102 Balirls outsrnnding ut beginning or current year S1,500,000 S2,035,000 S3,200,000 SB.735,000 Bonds sold during CUr1.Cllt ,.em,. - - . - Bonds outsiandinc nt end or cilrrent year 1,480,000 2,010,000 3,200,000 G.G90,000 Retirements: Interest 134,175 189, 1541 297,983 621,311 Pi~yiilg ngcnt'r nnmc and addrcss Series 1976: InicrFirst Orlnlrll'ori ii'orlli For1 li'orth, Tcxns Series 1980: Inrerrirst B:~nk/ForL ii'arLh \?~rtli, 'T~Zi15 Series 1983: InterFirsl Bniikll~orl Worl.ii Fort C'orth, l'esns Bonds votcd: $12,344,217 Bonds npproved: S 6,765,000 TllOPllY CLUB LIUNICIPAL UTIIIITY DISTRICT NO. 1 SCHEDULE OF TEhlPORARY IEIil3SThlENTS Year ended September 30, 1984 Identiiication Bolnnccs or Certificiitc Interest hli~ruriiy ikt end Funds number rate dnLc 01 yenr Debt Service Fund Ceriiiicvte of deposit 71188 0.75% 02-28-85 S 750,000 Ccncr;il llnrer nnd Sewer Fund Cerrilicote oi deposit. 30463 11.00 01-18-87 12,500 S.1,,362_,30_0 .... ~ - ~~ Accrued interest rcceivablc nt. end oi gem. TROPIIY CI.UB LlUNICIPilL UTILITY DISTRICT NO. 1 ~oinl LO lhc nccountcd 103. 5115,866 Leas callcctioiis: Current yon* Prior ycsirs Tnscs receivable by ycnrs: 1978 S 2 .I 1.970 1.360 1980 3,GlO 1981 *I, 133 1982 3,820 1983 9,211 S 22,158 . ~ Propcr~y ruluntions: Five pears eodril Seviesi~el. 30.- (in Ll>ousnods) l9S4 19R3 _- 1982 - 1981 - 1980 - Tax rnre pci. $100 valuntioli SpL= LO S0.3 SO,% ,$_O.Uq 'Tnr ros 1 s -- S.rrrG,_rnG7 Slil?,%fi? (11 (11. 1~1) -- For Ll,c paar clldcd Scprcmbcr. 30, 1984: dill L:LZL!S PCTCL-BL 01 current tascs collected to cul.reaL Lases lcvicd 98:. PC~.CCIII 01 CLII.I.C~I~ ilnd dcliilqueiit Li~xes COIICCLC~ 1.0 CUTI.CI~~ nnrl dclinqtlclit t:iscs ouLstnndinfi :it bc~ioning of Lox ycnr -"' ( J ,. (1) TIIC audits Ior 1081-1982 mere jn-ep;lred by otlicr :iiirlitoi's ;and i.1li.s iiiIoi.~sntion i$wls Tiat incli~ded in rbc i.cpoi.1~; cooscrjucotly, il, is not provided. -19- 'SIIOPIIY cLun LIUNICIPAL UTILI'SY DISTRICT NO. 1 ANALYSIS OF 0RCANIZATION:AL COSTS Yenr ended September 30, 1084 B~lililce~ at beginning ai ve:n. Or~~lii~:it.i~niil costs - creation period Additions (decl~e;iscsI ~iiing ices, licenses; leg01 notices and permits 2,6110 Lerul Sees 13,725 . Dlrcctoi. Ices nnl-l pcr dieti) 400 Orher costs 361 Toi~l orgnnizntionnl costs - creation pcriorl Legiil fees Fit~ancinl consulting leas Operating cxpcnscs Band inrarcst expense Ariiortized bond discount Tolal orRai,iz;irionnl costs ilmo~nts proiricied: Far district orgnniz.arion:il custs - crcntioli pcriod by constri~ction fund For districr orgnnisotionnl costs - ~onstl~uction Iiel.iod: By Capital Pi'ajccts Fulid By Debt Service Fond Totnl disrrict orr:;~ni:~,~~iin~iiil costs - CU~SII-UCL~U~ 11~l.iod TROPIIY CLUB LIUNICIPAL UTII.ITY DISTRICT NO. 1 lZ?lALYSIS OF CIIANGES IN GENERAL FIXED ASSETS Ycnr endccl Sfptcrnbcr 30, 198.1 Bal nnccs Iia~anccs :tt beginning Additions at clid of yenr (delelions1 oI i2cin. Gcncral fixed asscrs: Lnnd Buildings Ililter system SC>VBGC System Drnionge system Llochincrg and cquijlllletlt Auros and trucks FUriiiiuPC and ~~X~UICS Engineering fees Construction in progress . 332.110,.03A - S_7_7L335 ~~ ZGt,IS2,L!Q ~irldilioos provided by: Debt Service Fund $5,165,1211 S - $5,165,124 Coi~iributions by dcuelo],er 850,7111 - 850,711 Conrributioris by Geiler~il ITiitei. and Scivel. Fund 84,169 - 75,435 169.60~ 1 . 3% S=L!~,&%ii ?GaE5~2;452 - mmm I I o ~mmmi I I m imm " m*mn hOi +em? ---- m o r/ 0 m , m, -1 - - 'n " 21 C w P-o I ti m mi0 100- r -1.10 m m wmm mrio n =I1 if n If Em. o.: Y: :ore. *!I * m nt- 3 1 wrm mn 01 m8 0, m r -2.1 m. r >>r u -1 n i n j' G w -1: 0 - E JO - C OD P LI * Ci QO n I-- "W m i C *" - am 0 J I1 El J c C 0- uam =m * mi " u Cl C. *$ "I 3 C 0 A em imm mr or 01 I me .- -. mm mo wm mn~ ? "3 Ci .+ 3 3 ir c c CI " U 3 2 C U Lt ). iil J J C 2 C L. 0 0 m Lr i mu m dul C5 "i. 3 -0 k 01 u '-i 0, .ir 0, Ii m > .n d I i -2 J i .i * "C s "P 30 mm 0 CS B C. CiCi GI C% LOf urn U 0 01 L m U - i = 2 YI Ci J i L: 7 z m r c " I 3 J m c c. v a, a I , C > ~1 7 m - ~1 w L9 m u 1( = "i > Z P G 9 " C c Wd U UJ EY I OC .E: urn > 0 % i-3 C -C W .i1 CI h% r m uu :..fj2 C :i did .;; uin- o zo m>cm *&'.A" n Clin iUOF. r: JY amcu r -2 U .hi 0 (I mi*= C mo *a&- YIP 0" > 1 c.1 0, 3 "? -1, w 3 i Cam -2 'h TZ Oiw-3 3 (0 W % U m 0 2 c =J LI C > i: C Ern * + uim 0 L 0 U 0 W Yi%i C) m CI WW LC V1 *J LO eciu :,a&. uhms ?.m 2 0 i J I13 CI .A iw U IU m~ .n "4 > LYI * U OCI m cc "' "" .*.+% Y : ZJCZ 2 C ~EO_O o o ir: - o Ci id 7 .r( >*,An O > miu3 c r *i*U 0 O via clv w % cr m CI i Yi ?LY 'Li im 0 r: ,: ua, GI I B -2Gi LIU -0 > nco l mmn rmm mom cmq m m r -. mor "01 mmi n-I 3 0, Ui Ci 3 KC w d " m 7 r L1 c o m PI r 5" C,i 3, in C. C r U c - "1 0m 0 m' 9 or( m 0' P- om u? mi - -- - r m3m n, rn o mi 0i.m m ^O z C:g",i.rt 7 i: i m d ?= 3 e * torum 3 o +i CJ see, 50.d.oUI Ci.i ES C >+J.iO &I L1 OUc~~ o "J IOC~C u 5 d i i: CiC>Yr. e F ooUY13 .I"-cEI 0 I > dm0 C d i.c.TCVI LI CCIO+ - r> L-+UO~ "A : 2" = "0 dY-CCn, c -+m BCseOYO U 03 zc 2;s u i= JUOJUOC YO O .'UC . - 0) Ul-mm.+-i C 50 d+~id~ld~ "ir TOWTrYUI 0 ur.ru,.iu C m-2 C>.Oi.YCm VIC c " : C o o -i ). i U iil 'popynozd %ou ST li c6~7~~nba~~~~ !Sl.lOd~.r 341 Ui pOpn1JUT 10o sna uorluu.roJur srg~ pun s~o%rpnu .seqlo dq pa~odo~d S1a.o 2861-X861 10~ sxrpnn sqJ, (1) (1) (1) IEG'GL ICE'S8 XSZ'SL padund Jo3n.u o? pa~liq "alub, $0 aYalua~=sd (1) (1) IES'ZSI SPP'LOI ZOI'OSZ (SUOI~Y so spiiosnoi[7 rrr) ualshs o2uy padund .raqcn jo lunooc 1eloL (I) (I) SIG'IZX SGB'PG L(JL'OIZ (suo~~az JO spuusnocl? ui) sssmoxsna ox pal~iq zelcm 20 lunouc 1nlo.t (1) (1) OSL PLL IliG mad JO pua 7T SUOTIJBULIOJ .rams puc lilxne lo JoqulnN 96'0 S0.T LO'I CI'O LG'O SSO'OGE GSis'SSE PCZ'GGE TTC'OO~ 0r8'rED JJy".*"S 793p ,luJ so.TnSypuadSa JJoJaq pUnd aa!AloS 7~130 put: pimj LOJ~)LIJ~ mo.q sanoona.i ssaara GCS'OLES 919'1LE$ ZOG'ZLES 'LO1S68S 91LrDSB S ISJIOJUT pun Ird?nor.zrl p?adon .to& 2onuls.i~nba.~ aarnJas lqap tvnutn: aJi~rs,i~ --- - - - 1861 ZSGI ESGT EBGX 1-SGI XSGI 28GT ESGI ESGS DBGI '0s ~aqua7des 'OE .taqlua?das - 'OE laqaaldos 'OE .Isqua?dos 'IC ~l~-~W P*Piia J"aA pap,la porlad papuo iiia.1 'IE qaJCIV Papua .IcaA l,apue poj~ad papua znab anuan3.t pun,, 10 loaaiod ~LI~OUII (panurluoa) EsG~ 11s qazq~ papus s.rr?aA oalql pua ESGI 'OE zaqueldas papua porlod Pus 3861 'OE aoqmaldos pepua nah SZU~LIONBLY)(II ~NV samanau ~o .LN~IV~LVLS B~ILVUV~VOS 1 'ON L3IULSIO ALIlILn 1VdI3INfllY 8013 hHd0U.l TROPIIY CLUB hlUNICIPAL UTILITY DISTRICT NO. 1 BOARD \IEhlBCRS, KEY ADhIINISTRATIVE PERSONNEL AND CONSULTAEITS September 30, 1984 Complerc district mnilinfi address: P. 0. Bas 130, Ro:lnolie, l'czus 76262 Districr business telephone number: (817) 430-1911 Nitme :md address Term of Bees oiiice clecrcd and expense Rcsidca t and cspires or rcilnllursemcnt of date llirctl 09-30-84 Titlc at yenr-cnd District.? 08-02-83108-02-85 Per dlcm Prcsldcet Yo5 John Pcters 402 llilltop Ronnoke , Tos:>s 76262 04-02-83104-02-85 Per diem Vice-PresidonL Yes Coililie \?liiic 11s Trollhy Club Drive Ronil~ke, TBS~S 76262 01-02-6310'1-02-85 Per dicru Sccretnry-Trc:lsurer Ye4 IYayiic Steclmtu, 110 Invcrnesa Drive Ro;lnolie, Texas iG262 06-07-84/04-07-88 Per dicm Dil~ector Yes Tlleresil Kunkel 6 hluirfielri Court Raonolic, Texas 76262 08-07-84104-07-88 Pcr diem Director Ycs Ices administrative personnel IXicb:lrd Ferber P. 0. Box 1411 hluenster, Texas 16252 Consulzonts Denton Counl:y Appraisal District P. 0. Bos 281G Dcnton, Terns 04-01-81 S 8,516 Bsscssor-Collector No Phillips, ii'elcb, Di1lai.d & Roborson, P.C. 3015 Nest Fifth Strcet Fort Il'orth. TCSRS 76107 Ccrtiiied Public 03-31-83 % 7.110 AccouzlLiint No Note: Eta direcr~r 110s :my business or Ininilp relotionsliips Ins dcfised by ibe Tcs:ls IYirter Code) !,viti> major 1:undaivncrs in rbc District, with thc Disirict's dcireloper 01. with :ioy of tlic District's consullnnts. -26- TROPIIY CLUB hIUNICIPAL UTILITY DISTRICT NO. 1 QUESTIONNAIRE TO BE COhlPLLTED BY AUDITOR Ycnr ended Scpternbcr 30, 1984 1. 031 the following cbnrl, provide ihc npprop~intc checlr oiirrlis for cncb listed nccounling recortl. Under ilia "USED?" blocli Ior each rccord indiciite either "NO" (it is not used) or "YES" (it is used). Undcr the "IlOlY ICEPT?" blocli indicnte if records arc m:iintaincd monualll~, by hand, nr iI daLu arc il?l>uL Lo il computer. Ulidcr Lhe "1i'IlEN UPDATED?" bloclc show llow ol'tcn entries mre nl;idc to c:rch record. If eiitries arc made less oitcil tlinn in~nil~lp, writc in tlic Irc- quency under "llom Often?". Indicntc wlio provided ilie informntion lor Lhc iablc bcloir: Sherry Johnson USED'! IIOlV I(EPT? 1SIlEN UPDATED? BY DY liOli' RECORD NO YCS IIANU COhlPUTER DAIIiV lSEEI<LY hlONTllLY OTTEN? - --- D~scription or nccounts Chart of occouots Gcncrnl journal Cash receipts joul.nn1 Cash disborsemcors jom.nill Check re~istcr Geour:~i ledger Customcr subsidiarr lcdger Fixed iisseLs ledger Bnnlc rcconcilintion Trial bitlance x -- 2. Does thc disLrict use double entry xccounLing? YES NO 3. lllioi: is tho usunl locntiun oC i.he nccounting racnl.da? 100 li'arerplant Road, Trophy Club, Tcms '1. Did you identify, during the caursc of pour csnminntioii oI the financial statciseots of Lbc water district. :an" areas ncrt:tinisc to accountinc , - matters in mliicl~ nction slibuld bc tilrcn by Llie Board of Directors of the mntcr district? X -- YES NO IT Ycs is chcclred far Question '1, lhnve tlicsc Lapics been discuascd in a hlunaecmcnt Lcttcr to the antar district's Board 01 Directors? TROPiiY CLUB hiUNICIPAIi UTILITY DISTIIICT NO. 1 QUESTIONNAIRE PO BE COhlPLETED BY AUDITOR Pear ended SegLcisber 30, IDS4 (Continued) 5. Did you obtain rcprcsentvrioo from the Bosrd oi Disccturs of the water district Lhnt ;ill rccorrls 01 tile water district ircrc m:ldc :nvnilnble to you lor your csnminaiiun? G. Did Lbc JraLer dislrict: :a. Use the Cvpiinl ProjccLs Fund and Debt Service Fund only for purposes ~utborizcd by the Board 01 Dil.ccio~.s of the ivnrer district nhdior within the provisions of Lhc opplicnblc bond rcsolurions? . ~ ns jprescribcd by rile Tcsas 1Y:~lcr Comrnissioii or disburse riic escl.nii'ed crisii iiccording ro ilic tc1.m~ p~~~s~~ibetl by Li2~ Tcxiis IIIILCI. Corllrtlissi~~~~? d. Obscrvc Llie condirioos for iibt:~inisg grnnts, gifts, ctc., 01. ~bsel.i,e ng~.celll~nls i\'i~I1 ~ovel-rlrl)enl:~I aCCnCieS Iol. Lili' plll.llos~ 01 Securing iulids 01. seririces? 0. ilni,c a coiiirnct lor Soci:il Sccurity covci'nge Ioi. iis cinployccs svith tiic Tcl-:,s Esplo]~ccs Retirement System? according Lo the tcrms oi the contr:lct lor Social Securiry coverage mitil liie Socinl Sefuritv Division of the Tcxns Emllloaccs Retirement System? 11. Dr:ie cbcclis only on Iunds approved by the Bowd of Directors and signed by :~uLhorizcd personnel? S - - YES KO S -- YES El0 S .-- - YES 1;O (I1 - - YES NO S -- - YES NO X -- YES NO S -- YES NO TROPIIY CLUB hRiNICIPAL UTILITY DISTIIICT NO. 1 QUESTIONNAIRE TO BE COhIPLETED BY AUDITOR Ycnr coded SepLcr!~l>er 30, 198.1 (ConLlnued) a. Tlic dnfe oi ibc most i.c:cenL rr~:~nageiricnl lctlci 1v1.n~ Novcml>c~ 30, 1!)Sdl. b. \\'ere rccaliintc~idations csplnjned Lu and discussed with odministrntivo oiiicinls oi ibc !vntsr disrricl? c. Is illcre evidence indicnting th:it rhc previous yeor's reconi~ncndatiocls IIBIZC been or ore llcilig implemcntcd? to t11c epcciiic mni.cr districi, rlid tlle depositors bailii provide ndcqilntc security oi the correct type? Plensc iodictlte for dcpasitol.~: a. Tlie zli~ine oi rlic dcposi.l.ory bank - Nol'LIm\8wsL Bniik 11. Anlount of F.D. I.C. coizcragc (if n,cinbcr 13:lnlr) c. Amount oi lboiid or uibcr sccu1.it.y plcdgcd ;IS oi rlie end ni ilic fisc:il periutl (pnr \,cllue) d. LI?I.~CSI cilsh 112I;~n~e e. Dnic of 1:ir:csC cu511 bvlancc I. The nsuunt of bond or security ~pledgcd nt tl?~ tiine of tlic largest cnsli hnlnnce (c:icludio~ F.D.I.C. cover:lge) S - -- YES NO S - - YES NO TROPllY CLUB IIUNICIPAL UTILITY DISTRICT NO. 1 QUESTIONNAIRE TO BE COLIPLETLD BY AUDITOR Year ended SepLcinber 30, 19S'l (Continued) 13. '?ere local tns revcnues (including dclinqucnt tnscs and intcrcst and penr~ltics an tuscs) properly S - - separated lor debt scrvicc? YIIS NO 1'1. Ivns rlic water district in coinplinnce tvitll :~ppljcnbl.r bond resolutions, with the general or specinl 1cgisl:~lion under iuliich thc district wns created nnd with tlic specific st:ctutes excerpted nnd includcd in the Lcgel Cornplinncc Guidelines in Section 70-03-1 of the X liiater District Accounting tlanunl? yx-$ 15. Full and complete csplunntions and/or rcl'ercnces to notes, scbcdules (or coinrnonts in the auditor's report letter) for responses mariced (*).