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HomeMy WebLinkAboutFY 2010-Consolidated TCMUD 1 Approved BudgetTROPHY CLUB MUNICIPAL UTILITY DISTRICTTROPHY CLUB MUNICIPAL UTILITY DISTRICT No. 1No. 1 ANNUAL PROGRAM OF SERVICESANNUAL PROGRAM OF SERVICES ––FISCAL YEAR 2009FISCAL YEAR 2009--1010 “A GREAT PLACE TO CALL HOME” TROPHY CLUB MUNICIPAL UTILITY DISTRICTS, TEXAS ANNUAL PROGRAM OF SERVICES “A GREAT PLACE TO CALL HOME” MUNICIPAL UTILITY DISTRICT NO. 1 ELECTED OFFICIALS Joint President Jim Budarf Joint President Dean Henry Joint Vice President Gary Cantrell Joint Vice President Kevin Carr Joint Secretary Jim Hase Joint Secretary James C. Thomas Director Joseph Boclair Director Robert Fair Director Steven Kohs Director Neil Twomey KEY STAFF District Manager Robert Scott Fire Chief Danny Thomas Director of Finance Kathy DuBose Information Systems Manager Mike Pastor Utility Billing Administrator Dana Gillock MUD Secretary Mary Moore Senior Accountant Renae Gonzales TROPHY CLUB MUNICIPAL UTILITY DISTRICTS, TEXAS ANNUAL PROGRAM OF SERVICES “A GREAT PLACE TO CALL HOME” TOWN OF TROPHY CLUB DALLAS / FORT WORTH REGION ••" 4 I .. '4 i ...- r* y. i i ' ): 1._ N S . P --....„, r- l'F: 0 0 TCMUC NO. 1 0 TROPHY CLUB TROPHY CLUB MUNICIPAL UTILITY DISTRICTS, TEXAS ANNUAL PROGRAM OF SERVICES READER’S GUIDE “A GREAT PLACE TO CALL HOME” The Reader's Guide provides an overview of the Trophy Club Municipal Utility District No. 1’s budget organization and policies. The Trophy Club Municipal Utility District No. 1 has prepared a budget designed to meet general standards of performance in municipal budgeting. As a result of the May 9, 2009 election, voters approved the consolidation of Trophy Club Municipal District No. 1 (MUD 1) and Trophy Club Municipal District No. 2 (MUD 2). The consolidation also incorporated and dissolved the Trophy Club Master District Joint Venture, which was a joint venture of the two municipal utility districts’ water and wastewater operations. While each of the three entities budgeted and reported financial information independently previous to the election results, state law required that the consolidation be completed within 90 days of the election. As of August 1, 2009, all budgets and financial data for the three entities were combined as Trophy Club Municipal Utility District Number 1 (Consolidated). All contracts, debt instruments, and official documents of the three entities were revised and/or reauthorized to be that of the consolidated Trophy Club Municipal Utility District Number 1. The 2009-2010 budget reflects prior year’s information in consolidated format. FINANCIAL STRUCTURE The financial structure of the budget is organized by funds. A fund is generally defined as a fiscal and accounting entity which has its own self-balancing set of accounts for recording cash and other financial resources, as well as any liabilities or residual equities or balances. Normally, funds are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations. However, when appropriate, funds are made up of departments. Generally, there are two types of funds: Governmental and Proprietary. Proprietary normally includes water, wastewater, sewer and electric services. Governmental Funds include general Operating & Maintenance and Interest & Sinking Funds. Each of the above-mentioned funds operates separately and independently from one another; therefore, they are budgeted separately and include separate financial statements. BUDGETED FUNDS The Trophy Club Municipal Utility Districts consists of various funds. Each fund represents a specific function and maintains individual objectives. They include the following funds: Operating & Maintenance Funds – This contains the control and fiscal accounting for general service operations, such as water and fire services. The two major revenue sources are water sales and ad valorem taxes. Interest & Sinking Fund – The Interest & Sinking Fund is used to record and control the accumulation of resources for payment of general long-term debt principal and interest. The Trophy Club Municipal Utility Districts issues debt to acquire or construct capital assets for the general benefit of Trophy Club citizens. Resources include an applicable portion of the ad valorem tax levy and related interest income usable from debt service. BUDGET BASIS The budget for the Operating & Maintenance and Interest & Sinking Funds are prepared on the modified accrual basis of accounting. Under this basis of accounting, revenues are recognized when they become both "measurable" and "available" to finance expenditures of the current period except where the accrual basis is specified by generally accepted accounting principles. Expenditures are recognized when the related fund liability is incurred, except for (1) inventories of material and supplies which may be considered expenditures either when purchased or when used; (2) prepaid insurance and similar items which need not be reported; (3) accumulated unpaid vacation, sick pay, and other employee benefit amounts which need not be recognized in TROPHY CLUB MUNICIPAL UTILITY DISTRICTS, TEXAS ANNUAL PROGRAM OF SERVICES READER’S GUIDE “A GREAT PLACE TO CALL HOME” the current period; (4) interest on special assessment indebtedness which may be recorded when due rather than accrued, if approximately offset by interest earnings on special assessment levies; and (5) principal and interest on long-term debts which are generally recognized when due. ORGANIZATIONAL RELATIONSHIPS A department is a major administrative segment of Municipal Utility District, which indicates overall management responsibility for an operation or a group of related operations within a functional area (e.g., Fire Department, Water Department, Information Services Department, etc.). The smallest organizational unit budgeted is the program. The program indicates responsibility for one functional area, and in many cases these functional areas are put together to demonstrate a broader responsibility. When this is done, the programs are combined to make up a department. TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES OPERATIONS AND MAINTENANCE SUMMARY MUD 1 MUD 1 MUD 1 MUD 1 CONSOLIDATED CONSOLIDATED CONSOLIDATED CONSOLIDATED 2007-08 2008-09 2008-09 2009-10 OPERATIONS AND MAINTENANCE ACTUAL BUDGET ESTIMATE ADOPTED UTILITY OPERATIONS REVENUES Property Tax 1,002,608 1,249,201 1,278,147 277,854 Rate Revenue 3,701,863 4,219,916 3,702,318 4,271,056 General Revenue 838,252 2,314,674 1,879,574 121,024 TOTAL REVENUES 5,542,723$7,783,791$6,860,039$4,669,934$ EXPENDITURES Water Operations 1,934,791 2,010,858 1,957,746 2,258,197 Wastewater Operations 492,145 1,009,869 646,648 821,117 Systems Collections 409,946 437,503 314,351 362,560 Board of Directors 1,080,533 3,337,482 3,337,482 91,833 Administration * 809,783 - - - Manager's Office - 964,623 348,811 366,396 Utility Billing - 163,958 163,958 179,196 Finance - 197,482 235,957 228,363 Information Systems 187,911 214,252 214,252 234,346 Human Resources - 39,125 39,125 40,813 Facilities Management - 90,053 90,053 87,113 TOTAL EXPENDITURES 4,915,109$8,465,205$7,348,383$4,669,934$ TOTAL UTILITY REVENUES OVER (UNDER) EXPENDITURES 627,614$(681,414)$(488,344)$-$ FIRE OPERATIONS REVENUES Property Tax 912,010 1,129,937 1,129,937 1,175,479 Denton and Tarrant County Pledge 13,750 13,750 13,750 13,750 Other Revenue 1,000 25,700 25,700 1,200 TOTAL REVENUES 926,760$1,169,387$1,169,387$1,190,429$ EXPENDITURES Personal Services 554,746 588,891 588,891 610,832 Professional and Contract Services 193,850 68,775 68,775 74,400 Operations 50,527 371,657 371,657 382,558 Consumable Supplies 19,333 37,408 37,408 36,951 Capital Expenses 80,952 102,656 102,656 85,688 TOTAL EXPENDITURES 899,408$1,169,387$1,169,387$1,190,429$ TOTAL FIRE REVENUES OVER EXPENDITURES 27,352$ -$ -$ -$ TOTAL COMBINED REVENUES OVER (UNDER) EXPENDITURES 654,966$(681,414)$(488,344)$-$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES INTEREST AND SINKING FUND SUMMARY MUD 1 MUD 1 MUD 1 MUD 1 CONSOLIDATED CONSOLIDATED CONSOLIDATED CONSOLIDATED 2007-08 2008-09 2008-09 2009-10 INTEREST AND SINKING FUND ACTUAL BUDGET ESTIMATE ADOPTED REVENUES Property Tax 1,302,763 1,084,648 1,112,305 712,310 Transfers 29,379 157,548 383,009 - Interest Income 23,325 25,000 4,106 2,000 Fire Rent - - - 308,000 PID Connection Fees - - - 345,000 TOTAL REVENUES 1,355,467$1,267,196$1,499,420$1,367,310$ EXPENDITURES Paying Agent Fees 3,369 2,760 2,760 4,000 Bond Interest Expense 387,195 349,436 349,435 308,310 Bond Prinicipal Payment 975,000 1,025,000 1,025,000 1,055,000 TOTAL EXPENDITURES 1,365,564$1,377,196$1,377,195$1,367,310$ TOTAL REVENUES OVER (UNDER) EXPENDITURES (10,097)$ (110,000)$ 122,225$ -$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL WATER OPERATIONS 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED PERSONNEL SERVICES Salaries & Wages 250,920 264,289 323,020 159,774 Overtime 17,940 14,409 24,701 8,814 Longevity 3,458 3,105 3,105 1,910 Certification 1,200 1,950 3,343 1,500 Retirement 33,503 34,902 43,014 22,360 Medical Insurance 29,490 34,114 58,481 23,135 Dental Insurance 2,038 2,230 3,823 1,569 Vision Insurance 529 557 955 282 Life Insurance & Other 1,518 1,985 3,403 1,125 Social Security Taxes 15,739 16,517 21,958 10,616 Medicare Taxes 3,681 3,863 21,958 2,483 Unemployment Taxes 622 1,944 3,333 270 Workers' Compensation 4,458 9,910 19,820 5,496 Pre-employment Physicals/Testing - 200 - 200 Employee Relations 153 350 - 350 TOTAL PERSONNEL SERVICES 365,249$ 390,325$ 530,914$ 239,884$ PROFESSIONAL SERVICES Engineering 4,514 1,500 2,500 1,500 Independent Labor - 750 500 - Maintenance & Repairs 8,304 28,500 20,000 26,000 Vehicle Maintenance 2,163 3,180 1,650 3,180 Building Maintenance 500 750 600 750 Maintenance-Backhoe/SkidLoader 247 2,900 1,200 2,900 Lab Analysis 3,754 3,350 2,850 3,350 TOTAL PROFESSIONAL SERVICES 19,483$ 40,930$ 29,300$ 37,680$ OPERATING EXPENDITURES Communications/Pagers/Mobiles 3,508 3,096 2,600 2,016 Electricity 181,270 195,000 178,000 195,000 Postage - 100 100 100 Bad Debt Expense (28,719) 4,200 4,200 4,200 Publications/Books/Subscriptions - 50 50 50 Dues & Memberships - 150 150 150 Schools & Training 1,644 1,914 1,960 2,800 Safety Program - 500 500 500 Travel & Per Diem 3,358 3,200 2,200 3,200 Rent/Lease Equipment 31 500 200 500 Annual Permit Fee 1,713 2,250 1,991 6,600 Bulk Water 900,460 1,077,340 850,000 1,410,000 Miscellaneous Expenses 343 - - Property Maintenance 4,015 4,200 2,100 4,200 Lawn Equipment & Maintenance 1,242 2,000 1,100 2,000 Furniture/Equipment < $5000 - - - TOTAL OPERATING EXPENDITURES 1,068,865$ 1,294,500$ 1,045,151$ 1,631,316$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL WATER OPERATIONS 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED CONSUMABLE SUPPLIES Fuel & Lube 15,571 15,216 12,500 15,216 Uniforms 1,845 3,590 3,100 3,690 Chemicals 4,744 5,200 3,850 5,200 Small Tools 1,374 2,500 1,500 2,500 Safety Equipment 502 2,500 1,500 2,500 Meter Expense 70,413 75,000 80,000 75,000 Hardware 548 1,000 750 1,000 Maintenance Supplies 26,378 35,000 32,500 30,000 Copies 17 50 50 50 Printing 165 150 150 150 TOTAL CONSUMABLE SUPPLIES 121,557$ 140,206$ 135,900$ 135,306$ CAPITAL EXPENDITURES Capital Expenses 258,020 60,000 60,000 38,500 GASB34 Reserve for Replacement 8,206 30,000 30,000 30,000 Capital Repairs - 67,700 17,000 9,000 Capital Repairs - Ground Storage 83,392 97,742 97,741 124,771 Unexpected Maintenance - 250 250 250 Capital Leases 10,021 11,490 11,490 11,490$ TOTAL CAPITAL EXPENDITURES 359,639$ 267,182$ 216,481$ 214,011$ TOTAL EXPENDITURES 1,934,792$ 2,133,143$ 1,957,746$ 2,258,197$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL WASTEWATER OPERATIONS 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED PERSONNEL SERVICES Salaries & Wages 93,029 95,154 152,988 171,607 Overtime 5,537 6,229 10,678 10,166 Longevity 1,913 2,093 2,093 3,153 Certification 900 1,800 3,086 2,550 Retirement 12,402 12,949 20,528 24,372 Medical Insurance 12,316 13,943 23,902 27,503 Dental Insurance 867 929 1,593 1,983 Vision Insurance 211 218 374 357 Life Insurance & Other 619 763 1,308 1,198 Social Security Taxes 5,311 5,649 10,468 9,936 Medicare Taxes 1,242 1,321 10,468 2,324 Unemployment Taxes 197 648 1,111 270 Workers' Compensation 2,535 3,677 7,354 5,991 Employee Relations 92 250 - 250 TOTAL PERSONNEL SERVICES 137,171$ 145,623$ 245,951$ 261,660$ PROFESSIONAL & CONTRACTUAL SERVICES Engineering - 1,500 1,500 1,500 Independent Labor 1,774 750 750 750 Maintenance & Repairs 17,500 14,050 14,050 20,250 Vehicle Maintenance 754 2,182 2,100 2,292 Building Maintenance 509 1,500 950 1,400 Maintenance-Backhoe 2,885 3,250 2,100 2,950 Dumpster Services 18,250 24,000 24,000 28,000 Lab Analysis 21,046 21,300 21,000 20,750 TOTAL PROF & CONTRACTUAL SERVICES 62,718$ 68,532$ 66,450$ 77,892$ OPERATING EXPENDITURES Communications/Pagers/Mobiles 2,828 2,256 2,000 3,276 Electricity 227,764 230,000 230,000 230,000 Water 699 2,000 1,000 1,600 Postage - 100 100 120 Publications/Books/Subscriptions 111 500 250 500 Schools & Training 1,374 1,322 1,322 1,320 Safety Program - 200 150 200 Travel & Per Diem 1,054 1,250 1,100 1,250 Rent/Lease Equipment - 200 200 200 Annual Permit Fee 7,065 9,309 7,170 7,500 Miscellaneous Expenses 588 500 300 525 Lawn Equipment & Maintenance 386 500 500 525 TOTAL OPERATING EXPENDITURES 241,869$ 248,137$ 244,092$ 247,016$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL WASTEWATER OPERATIONS 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED CONSUMABLE SUPPLIES Fuel & Lube 4,697 3,475 3,200 3,775 Uniforms 1,668 2,205 2,205 2,205 Chemicals 4,598 8,460 6,500 9,900 Small Tools 779 1,200 1,200 1,260 Safety Equipment 383 515 350 540 Lab Supplies 5,432 4,500 4,500 6,085 Hardware 56 500 500 525 Office Supplies 150 200 200 400 Maintenance Supplies 5,327 9,460 7,500 13,260 Other Consumables - 100 - 110 TOTAL CONSUMABLE SUPPLIES 23,090$ 30,615$ 26,155$ 38,060$ CAPITAL EXPENDITURES Capital Expenses 16,398 414,500 36,500 144,689 Capital Repairs 10,899 34,500 27,500 51,800 TOTAL CAPITAL EXPENDITURES 27,297$ 449,000$ 64,000$ 196,489$ TOTAL EXPENDITURES 492,145$ 941,907$ 646,648$ 821,117$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB,TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL WASTEWATER COLLECTIONS 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED PERSONNEL SERVICES Salaries & Wages 154,740 158,166 147,413 132,345 Overtime 12,614 16,066 10,414 14,145 Longevity 2,925 3,333 3,340 2,888 Certification 2,880 1,500 2,811 1,200 Retirement 21,201 22,025 20,203 19,575 Medical Insurance 18,673 20,504 20,467 18,043 Dental Insurance 1,403 1,487 1,469 1,426 Vision Insurance 346 352 327 206 Life Insurance & Other 1,020 1,265 1,020 914 Social Security Taxes 10,318 10,805 10,167 8,396 Medicare Taxes 2,413 2,527 10,167 1,964 Unemployment Taxes 397 1,296 303 203 Workers' Compensation 3,310 3,939 5,144 3,147 Employee Relations 49 250 250 250 TOTAL PERSONNEL SERVICES 232,288$ 243,515$ 233,495$ 204,702$ PROFESSIONAL & CONTRACTUAL SERVICES Engineering - 1,500 1,500 1,500 Independent Labor - 200 - 200 Maintenance & Repairs 13,366 13,500 9,750 10,000 Vehicle Maintenance 1,425 3,168 3,000 2,068 Building Maintenance 192 750 500 750 TOTAL PROF & CONTRACTUAL SERVICES 14,983$ 19,118$ 14,750$ 14,518$ OPERATING EXPENDITURES Communications/Pagers/Mobiles 1,061 2,256 1,600 2,112 Electricity 17,738 22,250 19,000 22,250 Water 135 1,150 650 750 Postage - 150 150 150 Dues & Memberships - 255 255 255 Schools & Training 1,180 2,818 2,250 2,818 Safety Program - 750 500 750 Travel & Per Diem 780 1,500 950 1,500 Rent/Lease Equipment 38,086 39,000 3,900 39,000 Miscellaneous Expenses - 100 100 100 Property Maintenance 779 1,000 - 1,000 TOTAL OPERATING EXPENDITURES 59,759$ 71,229$ 29,355$ 70,685$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB,TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL WASTEWATER COLLECTIONS 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED CONSUMABLE SUPPLIES Fuel & Lube 9,929 10,700 7,800 10,700 Uniforms 2,076 2,505 2,250 2,505 Chemicals 9,402 12,800 8,250 10,000 Small Tools 2,684 1,500 1,500 1,500 Safety Equipment 59 1,150 750 1,150 Hardware 187 750 500 750 Maintenance Supplies 8,080 17,550 - 16,050 TOTAL CONSUMABLE SUPPLIES 32,417$ 46,955$ 21,050$ 42,655$ CAPITAL EXPENDITURES Capital Expenses 30,500 53,000 7,500 10,000 Capital Repairs - 27,000 8,200 20,000 Lift Station #1 Rehab 40,000 - - - TOTAL CAPITAL EXPENDITURES 70,500$ 80,000$ 15,700$ 30,000$ TOTAL EXPENDITURES 409,947$ 460,817$ 314,350$ 362,560$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB,TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL BOARD OF DIRECTORS 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED PERSONNEL SERVICES Salaries & Wages 13,200 20,800 20,800 15,000 Social Security Taxes 818 1,290 1,290 1,290 Medicare Taxes 191 301 301 302 Unemployment Taxes 133 376 376 375 Workers' Compensation 37 120 120 120 TOTAL PERSONNEL SERVICES 14,379$ 22,887$ 22,887$ 17,087$ PROFESSIONAL & CONTRACTUAL SERVICES Legal 27,304 291,100 291,100 32,500 Auditing 10,081 24,358 24,358 - Appraisal - - - 18,874 Tax Admin Fees 11,131 25,857 25,857 2,380 Professional Outside Services 15,000 - - - TOTAL PROF & CONTRACTUAL SERVICES 63,516$ 341,315$ 341,315$ 53,754$ OPERATING EXPENDITURES Publications/Books/Subscriptions - - - 54 Dues & Memberships 585 1,150 1,150 1,096 Meetings 90 600 600 600 Schools & Training 1,590 5,775 5,775 5,775 Travel & Per Diem 3,673 12,148 12,148 12,147 Elections 2,557 5,610 5,610 - Advertising 777 820 820 820 Miscellaneous Expenses - 300 300 300 Interfund Trans Out (MUD1 I&S) - 153,169 153,169 - Intergov Trans Out (Fire Construction) - 1,650,500 1,650,500 Intergov Trans Out (Fire Dept) 515,293 1,113,629 1,113,629 - TOTAL OPERATING EXPENDITURES 524,565$ 2,943,701$ 2,943,701$ 20,792$ CONSUMABLE SUPPLIES Office Supplies - 200 200 200 TOTAL CONSUMABLE SUPPLIES -$ 200$ 200$ 200$ CAPITAL EXPENDITURES To MUD2 Water Plant Renovation 29,379 29,379 29,379 - TOTAL CAPITAL EXPENDITURES 29,379$ 29,379$ 29,379$ -$ TOTAL EXPENDITURES 631,839$ 3,337,482$ 3,337,482$ 91,833$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL MANAGERS OFFICE 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED PERSONNEL SERVICES Salaries & Wages - 127,229 127,229 249,499 Salary Adjustments - 36,330 36,330 - Overtime - 1,750 1,750 1,750 Longevity - 1,268 1,268 3,056 Retirement - 16,020 16,020 32,982 Medical Insurance - 13,360 13,360 22,317 Dental Insurance - 883 883 1,446 Vision Insurance - 224 224 269 Life Insurance & Other - 965 965 1,501 Social Security Taxes - 7,796 7,796 15,459 Medicare Taxes - 1,823 1,823 3,615 Unemployment Taxes - 810 810 304 Workers' Compensation - 358 358 671 Employee Relations - 838 838 838 TOTAL PERSONNEL SERVICES -$ 209,654$ 209,654$ 333,707$ PROFESSIONAL & CONTRACTUAL SERVICES Legal - 37,800 37,800 - Independent Labor - 79,400 79,400 720 Records Management - 1,020 1,020 100 Professional Outside Services - - - 1,000 TOTAL PROF & CONTRACTUAL SERVICES -$ 118,220$ 118,220$ 1,820$ OPERATING EXPENSES Telephone - 315 315 265 Communications/Pagers/Mobiles - 1,338 1,338 2,775 Postage - 1,071 1,071 1,071 Newsletter/Year in Review - 1,902 1,902 - Publications/Books/Subscriptions - 154 154 350 Dues & Memberships - 1,612 1,612 1,673 Meetings - 871 871 961 Schools & Training - 600 600 2,715 Travel & Per Diem - 1,114 1,114 2,094 Elections - - - 3,500 Advertising - 650 650 650 Miscellaneous Expenses - 100 100 100 4th of July Celebration - 10,000 10,000 10,000 Furniture/Equipment - - - 1,750 TOTAL OPERATING EXPENSES -$ 19,727$ 19,727$ 27,904$ CONSUMABLE SUPPLIES Office Supplies - 695 695 2,450 Printing - 515 515 515 TOTAL CONSUMABLE SUPPLIES -$ 1,210$ 1,210$ 2,965$ TOTAL EXPENDITURES -$ 348,811$ 348,811$ 366,396$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL UTILITY BILLING 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED PERSONNEL SERVICES Salaries & Wages - 74,256 74,256 79,238 Overtime - 750 750 750 Longevity - 125 125 185 Retirement - 9,241 9,241 10,422 Medical Insurance - 9,662 9,662 10,675 Dental Insurance - 743 743 826 Vision Insurance - 199 199 133 Life Insurance & Other - 597 597 558 Social Security Taxes - 4,615 4,615 4,920 Medicare Taxes - 1,079 1,079 1,151 Unemployment Taxes - 648 648 135 Workers' Compensation - 207 207 212 TOTAL PERSONNEL SERVICES -$ 102,122$ 102,122$ 109,205$ PROFESSIONAL SERVICES Independent Labor - 800 800 800 Utility Billing Contract - 10,200 10,200 11,000 TOTAL PROFESSIONAL SERVICES -$ 11,000$ 11,000$ 11,800$ OPERATING EXPENDITURES Telephone - 240 240 75 Communications/Pagers/Mobiles - - - 420 Postage - 16,100 16,100 15,820 Service Charges & Fees - 10,000 10,000 15,000 Dues & Memberships - 54 54 71 Schools & Training - 800 800 800 Travel & Per Diem - 860 860 605 Reg Assessment Fees (5%) - 21,032 21,032 20,000 Miscellaneous Expenses - 200 200 200 TOTAL OPERATING EXPENDITURES -$ 49,286$ 49,286$ 52,991$ CONSUMABLE SUPPLIES Office Supplies - 700 700 700 Printing - 850 850 4,500 TOTAL CONSUMABLE SERVICES -$ 1,550$ 1,550$ 5,200$ TOTAL EXPENDITURES -$ 163,958$ 163,958$ 179,196$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL FINANCE 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED PERSONNEL SERVICES Salaries & Wages - 128,485 128,485 135,172 Overtime - 3,500 3,500 2,000 Longevity - 1,169 1,169 1,259 Retirement - 16,378 16,378 17,996 Medical Insurance - 10,944 10,944 10,550 Dental Insurance - 688 688 765 Vision Insurance - 176 176 127 Life Insurance & Other - 903 903 830 Social Security Taxes - 7,989 7,989 8,265 Medicare Taxes - 1,868 1,868 1,933 Unemployment Taxes - 648 648 135 Workers' Compensation - 366 366 365 Pre-Employment Physicals/Testing - - - - TOTAL PERSONNEL SERVICES $ - $ 173,114 $ 173,114 $ 179,397 Auditing - 16,145 16,145 40,000 TOTAL PROF & CONTRACTUAL SERVICES $ - $ 16,145 $ 16,145 $ 40,000 OPERATING EXPENSES Telephone - 125 125 103 Communications/Pagers/Mobiles - 498 498 506 Postage - 1,000 1,000 900 Service Charges & Fees - 200 200 75 Publications/Books/Subscriptions - 250 250 250 Dues & Memberships - 430 430 1,361 Meetings - 200 200 66 Schools & Training - 1,438 1,438 1,370 Travel & Per Diem - 2,332 2,332 1,635 Advertising - - - 1,000 Miscellaneous Expenses - 200 200 - TOTAL OPERATING EXPENSES $ - $ 6,673 $ 6,673 $ 7,266 CONSUMABLE SUPPLIES Office Supplies - 1,050 1,050 800 Printing - 500 500 900 TOTAL CONSUMABLE SUPPLIES $ - $ 1,550 $ 1,550 $ 1,700 CAPITAL EXPENDITURES Variable Speed Pump - 38,475 38,475 - TOTAL CAPITAL EXPENDITURES $ - $ 38,475 $ 38,475 $ - TOTAL EXPENDITURES $ - $ 235,957 $ 235,957 $ 228,363 PROFESSIONAL & CONTRACTUAL SERVICES "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL INFORMATION SYSTEMS 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED PERSONNEL Salaries & Wages 50,601 56,708 56,708 58,883 Longevity 125 233 233 278 Retirement 6,211 7,004 7,004 7,691 Medical Insurance 3,762 4,831 4,831 4,928 Dental Insurance 216 279 279 310 Vision Insurance 62 76 76 60 Life Insurance & Other 111 416 416 384 Social Security Taxes 3,111 3,530 3,530 3,668 Medicare Taxes 727 826 826 858 Unemployment Taxes 99 324 324 68 Workers' Compensation 139 157 157 156 Pre-Employment Physicals/Testing 35 - - - TOTAL PERSONNEL 65,199$ 74,384$ 74,384$ 77,284$ PROFESSIONAL & CONTRACTUAL SERVICES Software & Support 44,457 53,579 53,579 56,190 Independent Labor 838 1,464 1,464 1,464 TOTAL PROF & CONTRACTUAL SERVICES 45,295$ 55,043$ 55,043$ 57,654$ OPERATING EXPENDITURES Telephone 12,394 20,520 20,520 20,520 Communications/Pagers/Mobiles 715 918 918 1,081 Postage 29 100 100 100 Publications/Books/SubscriptIONSs 20 63 63 63 Dues & Memberships 144 177 177 177 Meetings - 75 75 75 Schools & Training 1,272 1,738 1,738 1,738 Travel & Per Diem 946 1,464 1,464 1,464 Advertising 223 - - - Security 1,355 1,847 1,847 1,902 Furniture/Equipment < $5000 968 - - - TOTAL OPERATING EXPENDITURES 18,066$ 26,902$ 26,902$ 27,120$ CONSUMABLE SUPPLIES Hardware 48,970 22,317 22,317 36,682 Office Supplies 340 300 300 300 Printer Supplies & Maintenance 6,845 4,845 4,845 4,845 Printing 24 100 100 100 TOTAL CONSUMABLE SUPPLIES 56,179$ 27,562$ 27,562$ 41,927$ CAPITAL EXPENDITURES Copier Lease Installments 3,172 3,450 3,450 3,450 GASB34/Reserve For Replacement - 26,911 26,911 26,911 TOTAL CAPITAL EXPENDITURES 3,172$ 30,361$ 30,361$ 30,361$ TOTAL EXPENDITURES 187,911$ 214,252$ 214,252$ 234,346$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL HUMAN RESOURCES 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED PERSONNEL SERVICES Salaries & Wages - 23,807 23,807 25,698 Longevity - 68 68 98 Retirement - 2,937 2,937 3,353 Medical Insurance - 2,416 2,416 2,669 Dental Insurance - 195 195 155 Vision Insurance - 38 38 30 Life Insurance & Other - 2,950 2,950 184 Social Security Taxes - 1,470 1,470 1,587 Medicare Taxes - 344 344 371 Unemployment Taxes - 162 162 34 Worker's Compensation - 66 66 68 Employee Relations - 1,200 1,200 1,625 Tuition Reimbursement - - - 1,500 TOTAL PERSONNEL SERVICES $ - $ 35,653 $ 35,653 $ 37,372 OPERATING EXPENSES Telephone - 30 30 26 Communications/Pagers/Mobiles - 210 210 210 Postage - 100 100 102 Publications/Books/Subscriptions - 440 440 440 Dues & Memberships - 475 475 504 Meetings - 130 130 130 Schools & Training - 850 850 539 Travel & Per Diem - 77 77 8 Physicals/Testing - 650 650 960 TOTAL OPERATING EXPENSES $ - $ 2,962 $ 2,962 $ 2,919 CONSUMABLE SUPPLIES Office Supplies - 400 400 412 Printing - 110 110 110 TOTAL CONSUMABLE SUPPLIES $ - $ 510 $ 510 $ 522 TOTAL EXPENDITURES $ - $ 39,125 $ 39,125 $ 40,813 "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL FACILITIES MANAGEMENT 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED PROFESSIONAL & CONTRACTUAL SERVICES Building Maintenance - 16,400 16,400 11,400 Cleaning Services - 7,920 7,920 9,000 TOTAL PROF & CONTRACTUAL SERVICES -$ 24,320$ 24,320$ 20,400$ OPERATING EXPENSES Electricity - 19,000 19,000 19,900 Water - 1,000 1,000 1,030 Annex Mortgage - 13,182 13,182 13,182 Insurance - 28,191 28,191 29,601 TOTAL OPERATING EXPENSES -$ 61,373$ 61,373$ 63,713$ CONSUMABLE SUPPLIES Maintenance Supplies - 3,400 3,400 2,000 Vending Machine Supplies - 960 960 1,000 TOTAL CONSUMABLE SUPPLIES -$ 4,360$ 4,360$ 3,000$ TOTAL EXPENDITURES -$ 90,053$ 90,053$ 87,113$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL FIRE OPERATIONS FUND 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED REVENUES Denton/Tarrant Cty Pledge - Fire 13,750 13,750 13,750 13,750 Intergov Trans In (MUD1 Fire) 515,293 603,648 603,648 1,117,013 Intergov Trans In (MUD2 Fire) 387,060 503,481 503,481 - Intergov Trans In (PID Fire) 9,657 16,308 16,308 51,966 Intergov Trans In (P&I) - 6,500 6,500 6,500 Fire Grants - - - - Misc Fire Revenue 1,000 1,200 1,200 1,200 Loan Proceeds - 17,500 17,500 - Interest Income - 7,000 7,000 - TOTAL REVENUES 926,760$ 1,169,387$ 1,169,387$ 1,190,429$ PERSONNEL SERVICES Salaries & Wages 358,891 381,988 381,988 398,849 Overtime 38,812 42,573 42,573 40,298 DPS Holiday Pay 10,396 10,822 10,822 11,329 Longevity/Certification - - - - Longevity 1,782 2,204 2,204 2,704 Certification 4,798 3,366 3,366 5,356 Retirement 49,061 54,114 54,114 59,532 Medical Insurance 38,717 42,357 42,357 42,897 Dental Insurance 2,439 2,651 2,651 3,052 Vision Insurance 582 625 625 493 Life Insurance & Other 1,974 2,846 2,846 2,582 Social Security Taxes 23,504 25,729 25,729 26,516 Medicare Taxes 5,497 6,017 6,017 6,201 Unemployment Taxes 863 2,637 2,637 549 Workers' Compensation 16,970 10,287 10,287 9,799 Pre-Employment Physicals/Testing 460 675 675 675 TOTAL PERSONNEL SERVICES 554,746$ 588,891$ 588,891$ 610,832$ PROFESSIONAL & CONTRACTUAL SERVICES Maintenance & Repairs 2,000 5,400 5,400 5,400 Vehicle Maintenance 5,350 7,800 7,800 13,500 Equipment Maintenance 2,000 3,000 3,000 3,500 Building Maintenance 10,000 11,000 11,000 11,000 Maintenance-Radios 1,000 1,575 1,575 1,000 Professional Outside Services 173,500 40,000 40,000 40,000 TOTAL PROF & CONTRACTUAL SERVICES 193,850$ 68,775$ 68,775$ 74,400$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL FIRE OPERATIONS FUND 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED OPERATING EXPENSES Telephone 80 150 150 100 Communications/Pagers/Mobiles 1,204 2,123 2,123 2,477 Electricity 11,400 13,371 13,371 16,571 Water 2,628 2,100 2,100 3,100 Rent And/Or Usage - 308,000 308,000 308,000 Postage 25 93 93 93 Insurance 10,633 12,404 12,404 19,024 Publications/Books/Subscriptions 126 364 364 364 Dues & Memberships 6,400 7,960 7,960 7,960 Meetings 80 - - 300 Schools & Training 6,200 7,800 7,800 6,300 Emergency Management 1,475 1,000 1,000 1,000 Travel & Per Diem 3,331 6,769 6,769 6,769 Physicals/Tests 54 1,843 1,843 1,843 Advertising 40 150 150 150 Programs & Special Projects 3,800 4,000 4,000 4,000 Fire Inspection/Enforcement 420 1,550 1,550 1,000 Flags & Repair 2,500 1,780 1,780 2,307 Miscellaneous Expenses 131 200 200 1,200 TOTAL OPERATING EXPENSES 50,527$ 371,657$ 371,657$ 382,558$ CONSUMABLE SUPPLIES Fuel & Lube 8,100 15,795 15,795 15,795 Uniforms 3,353 4,230 4,230 4,230 Protective Clothing 1,400 4,600 4,600 4,600 Chemicals 940 1,500 1,500 1,500 Small Tools 3,000 7,890 7,890 7,890 Office Supplies 500 310 310 310 Maintenance Supplies 2,040 2,526 2,526 2,526 Printing - 557 557 100 TOTAL CONSUMABLE SUPPLIES 19,333$ 37,408$ 37,408$ 36,951$ CAPITAL EXPENSES Grant Match 3,211 3,000 3,000 3,000 Vehicles - 21,500 21,500 7,500 Radios 2,496 2,500 2,500 - Brush 681 Payment - - - - Engine 681 Payment 73,000 73,411 73,411 72,943 Airpacks 2,245 2,245 2,245 2,245 TOTAL CAPITAL EXPENSES 80,952$ 102,656$ 102,656$ 85,688$ TOTAL EXPENDITURES 899,408$ 1,169,387$ 1,169,387$ 1,190,429$ REVENUES OVER EXPENDITURES 27,352$ -$ -$ -$ "A GREAT PLACE TO CALL HOME" TROPHY CLUB, TEXAS CONSOLIDATED MUNICIPAL UTILITY DISTRICT NO. 1 ANNUAL PROGRAM OF SERVICES LINE ITEM DETAIL INTEREST & SINKING FUND Combined MUD Combined MUD Combined MUD 2007-08 2008-09 2008-09 2009-10 DESCRIPTION ACTUAL BUDGET ESTIMATE ADOPTED REVENUES Property Taxes (1,292,703) (1,075,595) (1,100,081) (703,310) Property Taxes/P & I (10,060) (9,053) (12,224) (9,000) Interest Income (23,325) (25,000) (4,106) (2,000) Prior Year Reserves -(110,000)-- From M1- Water Plant Renovation (29,379) (29,379) (29,379) - Fire Rent - - - (308,000) PID Connection Fees - - - (345,000) Interfund Trans In (MUD1 O&M) - (90,169) (290,669) - Interfund Trans In (MUD2 O&M) - (38,000) (62,961) - TOTAL REVENUES (1,355,467)$ (1,377,196)$ (1,499,420)$ (1,367,310)$ EXPENDITURES Paying Agent Fees 3,369 2,760 2,760 4,000 Bond Interest Expense 387,195 349,436 349,435 308,310 Bond Principal Payment 975,000 1,025,000 1,025,000 1,055,000 TOTAL EXPENDITURES 1,365,564$ 1,377,196$ 1,377,195$ 1,367,310$ TOTAL REVENUES OVER (UNDER) EXPENDITURES (10,097)$-$122,225$-$ In May 2009 the voters approved the consolidation of the two Municipal Utility Districts, MUD No.1 and MUD No.2. This MUD consolidation also eliminated the need for the MUD Master District. The amounts listed above reflect the consolidation of the three previous entities. "A GREAT PLACE TO CALL HOME" TROPHY CLUB MUNICIPAL UTILITY DISTRICTS, TEXAS ANNUAL PROGRAM OF SERVICES “A GREAT PLACE TO CALL HOME” GLOSSARY Account:A six-digit numerical code of which the first character defines the specific classification of dollar values in the financial records, i.e., assets, liabilities, equities, revenues and expenditures/expense. The remaining digits provide a further breakdown of account types into specific character and object groupings. Accrual Accounting:A basis of accounting in which revenues are recognized in the period in which they are earned and become measurable, and expenses are recognized in the period incurred instead of when cash is actually received or spent. For example, in accrual accounting, revenue that was earned between April 1 and June 30, but for which payment was not received until July 10, is recorded as being received on June 30 rather than July 10. Appropriation:A legal authorization made by the Town Council that permits the Town to make expenditures and to incur obligations for specific purposes. An appropriation is usually limited in amount and the time in which it may be expended. Appropriation Ordinance:The official enactment by the Town Council to establish legal authority for Town officials to obligate and expend resources. Assessed Valuation:A value that is established for real or personal property for use as a basis for levying property taxes. (Note: Property values are established by the Denton County Appraisal District.) Audit:A comprehensive examination of how an organization’s resources were actually utilized, concluding in a written report of the findings. A financial audit is a review of the accounting system and financial information to determine how government funds were spent and whether expenditures were in compliance with the legislative body's appropriations. A performance audit consists of a review of how well the organization met its stated goals. Authorized Position (A.P.):A position included in the proposed budget document, authorized by the Town Council as part of the total authorized strength of a department. Positions are specifically approved by designated classification titles and corresponding salary level, based on an analysis by the Human Resources Department of the tasks to be performed. Balance Sheet:A financial statement that discloses the assets, liabilities, and equity of a specific governmental fund as of a specific date. Bond:An interest-bearing certificate of debt; a written contract by an issuer to pay to the lender a fixed principal amount on a stated future date, and a series of interest payments on the principal amount until it is paid. TROPHY CLUB MUNICIPAL UTILITY DISTRICTS, TEXAS ANNUAL PROGRAM OF SERVICES “A GREAT PLACE TO CALL HOME” Budget:A financial plan for a specified period of time (fiscal year) that includes all planned expenditures for various municipal services and the proposed means of financing them. Budget Adjustment:A legal procedure utilized during the fiscal year by the Town staff and Town Council to revise a budget appropriation. The Town of Trophy Club’s Town Charter requires Town Council approval through the adoption of a supplemental appropriation ordinance (which specifies both the source of revenue and the appropriate expenditure account) for any interdepartmental or interfund adjustments. Town staff has the prerogative to adjust expenditures within a departmental budget. Budget Calendar:The schedule of key dates or milestones, which the Town departments follow in the preparation, adoption, and administration of the budget. Budget Document:The instrument used by the Town staff to present a comprehensive financial program to the Town Council. Budget Message:The opening section of the budget that provides the Town Council and the public with a general summary of the most important aspects of the budget, changes from the current and previous fiscal years, and the views and recommendations of the Town Manager. The Budget Message is also referred to as the Town Manager's Message. Budgetary Control:The control or management of a governmental unit or enterprise in accordance with an approved budget for the purpose of keeping expenditures within the limitations of available appropriations and available revenues. Budgeted Funds:Funds that are planned for certain uses but have not yet been formally or legally appropriated by the legislative body. The budget document that is submitted for Town Council approval is comprised of budgeted funds. Capital Equipment Budget:The portion of the annual operating budget that appropriates funds for the purchase of capital equipment items. These expenditures are often separated from regular operating items, such as salaries, services, and supplies. The Capital Equipment Budget includes funds for capital equipment purchases, which are usually distinguished from operating items according to their value and projected useful life. Examples include vehicles, minor equipment, furniture, machinery, building improvements, and special tools. The dollar value varies according to the policy established by each jurisdiction. Capital Improvement Program:A plan for capital expenditures to provide long-lasting physical improvements to be acquired over a fixed period of years. TROPHY CLUB MUNICIPAL UTILITY DISTRICTS, TEXAS ANNUAL PROGRAM OF SERVICES “A GREAT PLACE TO CALL HOME” Capital Improvement Program Budget:A Capital Improvement Program (CIP) Budget is a separate budget from the operating budget. Items in the CIP are usually construction projects designed to improve the value of government assets. Examples of capital improvement projects include new roads, sewer lines, buildings, recreational facilities, and large scale remodeling. Cash Accounting:A basis of accounting in which transactions are recorded when cash is either received or expended for goods and services. Cash Balance:Cash on hand and cash equivalents at any point in time, net of inflows and outflows. Cash Management:The management of cash necessary to pay for government services while investing temporary cash excesses in order to earn interest revenue. Cash management refers to the activities of forecasting the inflows and outflows of cash, mobilizing cash to improve its availability for investment, establishing and maintaining banking relationships, and investing funds in order to achieve the highest interest and return available for temporary cash balances. Commitment:The pledge of appropriated funds to purchase an item or service. Funds are committed when a requisition is issued through the Purchasing Division of the Town. Current Taxes:Taxes that are levied and due within one year. Debt Service:The Town's obligation to pay the principal and interest of all bonds and other debt instruments according to a pre-determined payment schedule. Delinquent Taxes:Taxes that remain unpaid on and after the date due, on which a penalty for nonpayment is attached. Department:A major administrative division of the Town that indicates overall management responsibility for an operation or group of related operations within a functional area. Depreciation:The process of estimating and recording the lost usefulness or expired useful life from a fixed asset that cannot or will not be restored by repair and will be replaced. The cost of the fixed asset's lost usefulness is the depreciation or the cost to reserve in order to replace the item at the end of its useful life. Disbursement:Payment for goods and services in cash or by check. Encumbrance:The commitment of appropriated funds to purchase an item or service. Committed funds become encumbered when a purchasing requisition becomes an actual purchase order. TROPHY CLUB MUNICIPAL UTILITY DISTRICTS, TEXAS ANNUAL PROGRAM OF SERVICES “A GREAT PLACE TO CALL HOME” Enterprise Fund:A governmental accounting fund used to account for operations that are financed and operated in a manner similar to private business enterprises, where the intent of the governing body is to recover the cost of providing goods through user fees. Expenditure:Decreases in the use of net financial resources other than through interfund transfer. Expenses:Outflows or other depletion of assets or incurrence of liabilities during a specific period of time, which result from the delivery or production of goods, rendering of services, or carrying out of other activities that constitute the entity's ongoing major central operations. Fiscal Year:The twelve-month period to which the annual operating budget applies and at the end of which a government determines its financial position and the results of it operations. The Town of Trophy Club’s fiscal year is October 1 through September 30. Fixed Assets:Assets of long-term character that are intended to continue to be held or used, such as land, buildings, machinery, furniture, and other equipment. Full Faith and Credit:A pledge of the general taxing power of a government to repay debt obligations (typically used in reference to bonds). Function:A group of related programs crossing organizational (departmental) boundaries and aimed at accomplishing a broad goal or major service. Fund:A fiscal and accounting entity with a self-balancing set of accounts that records all financial transactions for specific activities of government functions. Seven major fund types and two account groups are commonly used: general fund, special revenue funds, debt service funds, capital project funds, enterprise funds, trust and agency funds, internal service funds, general fixed asset account group, and general long-term debt account group. Fund Balance:The difference between a fund's assets and its liabilities. Portions of the fund balance may be reserved for various purposes, such as contingencies or encumbrances. General Fund:The largest fund within the Town that accounts for all financial resources of the government except for those required to be accounted for in another fund. General Fund revenues include property taxes, licenses and permits, local taxes, service charges, and other types of revenue. This fund usually includes most of the basic operating services, such as fire and police protection, finance, public health, parks and community services, libraries, public works and general administration. General Ledger:A file that contains a listing of the various accounts necessary to reflect the financial position and results of governmental operations. TROPHY CLUB MUNICIPAL UTILITY DISTRICTS, TEXAS ANNUAL PROGRAM OF SERVICES “A GREAT PLACE TO CALL HOME” General Obligation Bonds:Bonds that finance a variety of public projects such as streets, buildings, and improvements. The repayment of these bonds is usually made from the General Fund, and these bonds are backed by the full faith and credit of the issuing government. Grant:A contribution by a government or other organization to support a particular function. Grants may be classified as either categorical or block depending upon the amount of discretion allowed to the grantee. Intergovernmental Revenue:Revenue received from another governmental entity for a specified purpose. In the Town of Trophy Club, these are funds from Denton County, the State of Texas, and through recovery of indirect costs from federal and state agencies. Internal Service Fund:A fund used to account for the financing of goods or services provided by one department to another department on a cost reimbursement basis. Inventory:A detailed listing of property currently held by the government showing quantities, descriptions and values of the property, units of measure, and unit prices. Invoice:A bill requesting payment for goods or services by a vendor or other governmental unit. Levy:To impose taxes, special assessments, or service charges for the support of Town activities. Line-Item Budget:A budget that lists each expenditure category (salary, materials, telephone service, travel, etc.) separately along with the dollar amount budgeted for each specified category. Long-Term Debt:Any unmatured debt that is not a fund liability and at the same time has a maturity of more than one year. Modified Accrual Accounting:A basis of accounting in which revenues should be recognized in the accounting period in which they become available and measurable and expenditures are recorded in the accounting period that they are incurred. Since this type of accounting basis is a conservative financial approach, it is recommended as the standard for most governmental funds. Operating Budget:The portion of the budget that pertains to daily operations, which provide basic governmental services. The operating budget contains appropriations for such expenditures as personnel, supplies, utilities, materials, travel, and fuel and the proposed means of financing them. TROPHY CLUB MUNICIPAL UTILITY DISTRICTS, TEXAS ANNUAL PROGRAM OF SERVICES “A GREAT PLACE TO CALL HOME” Operating Fund:A fund restricted to a fiscal budget year. Performance Budget:A budget that focuses upon activities rather than line items. Workload and unit cost data are collected in order to assess the efficiency of services. Typical data collected might include miles of streets paved per year, cost of paved streets per mile, tons of garbage collected per employee hour, or cost per employee hour of garbage collection. Performance Measures:Specific quantitative and qualitative measures of work performed as an objective of the department. Program Budget:A budget that focuses upon the goal and objectives of an agency or jurisdiction rather than upon its organizational budget units or object classes or expenditures. Reconciliation:A detailed analysis of changes in revenue or expenditure balances within a fund. Requisition:A written request from a department to the purchasing office for specific goods or services. This action precedes the authorization of a purchase order. Reserve:An account used to indicate that a portion of a fund's balance is legally restricted for a specific purpose and is, therefore, not available for general appropriations. Retained Earnings:The difference between assets and liabilities for enterprise and internal service funds. Revenue:Increases in the net current assets of a governmental fund type from other than expenditure refunds and residual equity transfers, and increases in net total assets of a proprietary fund type from other than expense refunds, capital contributions and residual equity transfers. Included are such items as tax payments, fees from specific services, receipts from other governments, fines, forfeitures, grants, shared revenues, and interest income. Revenue Bonds:Bonds usually sold for constructing a project that will produce revenue for the government. All or part of the revenue is used to pay the principle and interest of the bond. Risk Management:An organized attempt to protect a government's assets against accidental loss, utilizing the most economical methods. Source of Revenue:Revenues are classified according to their source or point of origin. Unencumbered Balance:The amount of an appropriation that is neither expended nor encumbered. It is essentially the amount of money still available for future purchases. Voucher:A document indicating that a transaction has occurred. It usually specifies the accounts related to the transaction.