03-31-1995 district #1
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ANNUAL FINANCIAL REPORT
AND SUPPLEMENTAL INFORMATION
GUADCO MUNICIPAL UTILITY
DISTRICT NO. 1
)
GUADALUPE AND
CO MAL COUNTIES, TEXAS
YEAR ENDED MARCH 31, 1995
~ ...- ""'"
8
NORTH TOWER
800 N.W. LOOP 410, SUITE 300
SAN ANffiNIO, TEXAS 78216-<5611
210/341-2<)81
fAX 210/J41-2i5B8
Thompson.
Williams.
Biediger,
Kastor
'&?
Young,
Le.
CERTIFIED PUBLIC ACCOUNTANTS
MEMBERS AMERICAN INSTITUTEOF
CERTIFlED PUBLIC ACCOUNTANTS
The Board of Directors
Guadco Municipal Utility District No. 1
Guadalupe and Comal Counties, Texas
As part of our examination of your financial statements at March 31, 1995, we
reviewed and tested the District's system of internal accounting control to the
extent we considered necessary to evaluate the system as required by generally
accepted auditing standards. Under these standards the purpose of such evaluations
is to establish a basis for reliance thereon in determining the nature, timing, and
extent of other auditing procedures that are necessary for expressing an opinion
on the financial statements.
The objective of internal accounting control is to provide reasonable, but not
absolute, assurance as to the safeguarding of assets against loss from unauthorized
use or disposition, and the reliability of financial records for preparing
financial statements and maintaining accountability for assets. The concept of
reasonable assurance recognizes that the cost of a system of internal accounting
control should not exceed the benefits derived and also recognizes that the
evaluation of these factors necessarily requires estimates and judgements by
management.
There are inherent limitations that should be recognized in considering the
potential effectiveness of any system of internal accounting control. In the
performance of most control procedures, errors can result from misunderstanding of
instructions, mistakes of judgement, carelessness, or other personal factors.
Control procedures whose effectiveness depend upon segregation of duties can be
circumvented by collusion. Similarly, control procedures can be circumvented
intentionally by management either with respect to the estimates and judgements
required in the preparation of financial statements. Further, projection of any
evaluation of internal accounting control to future periods is subject to the risk
that procedures may become inadequate because of changes in conditions, and that
the degree of compliance with the procedures may deteriorate.
RLARRYTHOMPSON,C,P'A. I PAULE.WILLIAMS,C.RA I JAMESL.BIEDlGER,JR.,C.P.A./ C.TEDKASTOR,C.P.A./ CHAm.JEE.YOUNG,JR..C.P.A.
JOHNLEIF.C P.A. I H LEFSCHWARTZMAN,C.P.A. I F.GLENNCRAVEY,C,P'A. f FREDJ. TIMMONS.C,RA. I JOHNWGREEN,C.P.A.
JAMES T. McCARTY, CR A. (RETIRED)
. .
Our study and evaluation disclosed no condition that we believe to be a
material weakness, but did disclose the following conditions on which we believe
some corrective action should be taken.
Insurance Coverage
We observed that the District maintained insurance coverage for liability with
Ohio Casualty Insurance Company.
We did verify coverage and amounts; however, our examination did not include
the confirming of this entity's financial condition, which is not considered a part
of the examination of your financial statements.
Segregation of Duties
We found that the number of personnel employed by the contracted management
company was not sufficient to permit the segregation of duties and responsibilities
in such a manner as to effect adequate internal control over operations at the
office. We therefore applied more extensive auditing procedures to those areas of
weakness to satisfy ourselves as to the fairness of financial information.
This report is intended solely for the use of the management and the Texas
Natural Resource Conservation Commission and should not be used for any other
purpose.
The foregoing conditions were considered in determining the nature, timing,
and extent of the audit tests to be applied in our examination of the financial
statements, and this report of such conditions does not modify our report dated
May 31, 1995, on such financial statements.
~rtjJ4/nj()~~~~ o/fJm& ctt,
Certified Public Accountants
San Antonio, Texas
May 31, 1995
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ANNUAL FINANCIAL REPORT
OF THE
GUADCO MUNICIPAL UTILITY DISTRICT NO.1
YEAR ENDED MARCH 31, 1995
President
Vice President
Secretary/Treasurer
Assistant Secretary/Treasurer
Treasurer
Vance A. Opsahl
Charles R. Thompson
Billy M. Miller
William T. Kitts
William woeckner
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~Q'!!l'.]'.!!l'.&
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PAGE
NUMBER
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INDEPENDENT AUDITOR'S REPORT
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GENERAL PURPOSE FINANCIAL STATEMENTS
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COMBINED BALANCE SHEET - ALL GOVERNMENTAL FUND TYPES
AND ACCOUNT GROUPS
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COMBINED STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES - ALL
GOVERNMENTAL FUND TYPES
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STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND
ACTUAL - GENERAL FUND
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NOTES TO FINANCIAL STATEMENTS
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SUPPLEMENTAL INFORMATION
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SUPPLEMENTAL SCHEDULES INCLUDED WITHIN THIS REPORT
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E. SCHEDULE OF SERVICES AND RATES
F. SCHEDULE OF GENERAL FUND EXPENDITURES
G. SCHEDULE OF TEMPORARY INVESTMENTS
H. ANALYSIS OF TAXES RECEIVABLE
I. ANALYSIS OF CHANGES IN GENERAL FIXED
ASSETS AND ORGANIZATIONAL COSTS
J. GENERAL LONG-TERM DEBT SERVICE
REQUIREMENTS - BY YEARS
K. ANALYSIS OF CHANGES IN GENERAL
LONG-TERM DEBT
L. COMPARATIVE SCHEDULE OF REVENUES AND
EXPENDITURES, GENERAL FUND AND DEBT
SERVICE FUND - FIVE YEARS ENDED
MARCH 31, 1995
M. INSURANCE COVERAGE
N. BOARD MEMBERS, KEY ADMINISTRATIVE
PERSONNEL, AND CONSULTANTS
O. ANNUAL FILING AFFIDAVIT
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25
26
28
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~ NORTH TOWER
800 N.W. LOOP 410. SUITE 300
SAN ANTONIO, TEXAS 78216.66H
210/341-2581
FAX 210/341-2588
Thompson,
Williams.
Biediger,
Kastor
'&?
Young,
L.c.
CERTIFIED PUBLIC ACCOUNTANTS
MEMBERS AMERICAN INSTITUTE OF
CERTIFIED PUBLIC ACCOUNTANTS
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Board of Directors
Guadco Municipal Utility District No. 1
Guadalupe and Comal Counties, Texas
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Independent Auditor's Report
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We have audited the accompanying general purpose financial statements of the
Guadco Municipal Utility District No. 1 as of March 31, 1995, aud for the year then
ended as listed in the table of contents. These general purpose financial
statements are the responsibility of the Guadco Municipal Utility District No. 1
management. Our responsibility is to express an opinion on these financial
statements based on our audit.
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We conducted our audit in accordance with generally accepted auditing
standards and generally accepted government auditing standards. Those standards
require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our
audit provides a reasonable basis for our opinion.
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In our opinion, the general purpose financial statements referred to above
present fairly, in all material respects, the financial position of the Guadco
Municipal Utility District No. 1 as of March 31, 1995, and the results of its
operations and changes in fund balances for the year then ended in conformity with
generally accepted accounting principles.
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Our audit was made for the purpose of forming an opinion on the general
purpose financial statements taken as a whole. The accompanying financial
information listed as supplemental information is presented for purposes of
additional analysis and is not a required part of the general purpose financial
statements of the Guadco Municipal Utility District No.1. The information in
these schedules has been subjected to the auditing procedures applied in the audit
of the general purpose financial statements and, in' our opinion, is fairly stated
in all material respects in relation to the general purpose financial statements
taken as a whole.
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JjUo/1MnlJd~~~ cfM )f.~,
Certified Public Accountants
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San Antonio, Texas
May 31, 1995
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R.LARRYTHOMP~ON,C.P.A. / PAULE.WILLIAMS,C.RA / JAME.SLBIEDIGER,JR.,C.PA./ C.TEDKASTOR,C.P.A / CHARLIEE.YOUNG,JR.,C.P.A.
JOHNLEIF,G.P.A./ HLEESCHWARTZMAN,G.P.A. I F.GLENNCRAVEY,C.PA. I FREDJ.TIMMONS,C.P.A / JOHNWGRl-:EN,C.P.A. 1
JAMES T McCARTY, C.PA (RETIRED)
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> 'l ;0.'i'd<,O:\, \\'!r.LL\.;.,:-:', 'jll.T)jGCP :-:J'.:::"J)i) ~_;) YDi3,c.; .'
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ASSETS
ASSETS
Cash
Temporary Cash Investments, at Cost
Receivables
Taxes
Accounts
Accrued Interest
Due from Other Funds
Prepaid Expenses
Restricted Assets
Temporary Cash Investments, at Cost
Property, Plant, and Equipment
Amount Available in Debt Service Fund
Amount to be Provided for Retirement
of General Long-Term Debt
Other
TOTAL ASSETS
LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts Payable
Advances from Developer
Payable from Restricted Assets
Accrued Interest
Deposits
Due to Other Funds
Deferred Revenues
General Obligations Bonds Payable
Total Liabilities
FUND EQUITY
Investment in General Fixed Assets
Fund Balances
Reserved
Unreserved
Undesignated
Total Fund Equity
GUADCO MUNICIPAL UTILITY DISTRICT NO.1
COMBINED BALANCE SHEET - ALL GOVERNMENTAL FUND TYPES AND ACCOUNT GROUPS
MARCH 31, 1995
GOVERNMENTAL FUND TYPES
ACCOUNT
GENERAL
FIXED
ASSETS
GROUPS
GENERAL
LONG-TERM
DEBT
TOTALS
(MEMORANDUM
1995
GENERAL
DEBT
SERVICE
CAPITAL
PROJECTS
ONLY)
1994
$135,839 $ 90,662 $12,871 $ $ $ 239,372 $ 257,877
58,840 384,933 14,780 458,553 489,877
38,388 38,388 39,157
17,782 17,782 18,069
672 1,911 73 2,656 1,606
2,057 40,000 42,057 23,283
3,035 3,035 2,958
76,513 76,513 50,480
3,714,878 3,714,878 3,710,909
461,445 461,445 527,128
1,643,555 1,643,555 1,752,872
35,939 35,939 39,421
$292,681 $553,890 $67,724 $3,714,878 $2,105,000 $6,734,173 $6,913,637
$ 16,403 $ 1,631 $ $ $ $ 18,034 $ 19,822
41,550 41,550 41,550
12,428 12,428 13,653
51,400 51,400 49,465
2,057 40,000 42,057 23,283
38,388 38,388 39,157
2,105,000 2,105,000 2,280,000
$111,410 $ 92,447 $ -0- $ -0- $2,105,000 $2,308,857 $2,466,930
$ $ $ $3,714,878 $ $3,714,878 $3,710,909
461,443 67,724 529,167 592,420
181. 271 181.271 143,378
$181,271 $461,443 $67 , 724 $3,714,878 $ -0- $4,425,316 $4,446,707
$292,681 $553,890 $67 ,724 $3,714,878 $2,105,000 $6,734,173 $6,913,637
TOTAL LIABILITIES AND FUND EQUITY
(See Accompanying Notes to Financial statements)
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
COMBINED STATEMENT OF REVENUES. EXPENDITURES. AND
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CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES
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YEAR ENDED MARCH 31. 1995
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GOVERNMENTAL FUND
DEBT
GENERAL SERVICE
TYPES
CAPITAL
PROJECTS
TOTALS
(MEMORANDUM ONLY)
1995 1994
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(See Accompanying Notes to Financial Statements)
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
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STATEMENT OF REVENUES. EXPENDITURES. AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL -
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GENERAL FUND
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YEAR ENDED MARCH 31, 1995
GENERAL FUND
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BUDGET
ACTUAL
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REVENUES
Water Service
Sewer Service
Maintenance Tax
Late Charges
Tap Connection Fees
Interest on Time Deposits
Total Revenues
$229,337 $242,760
146,949 132,609
48,000 42,943
5,879 3,084
48,540 16,745
4.560 7,550
$483.265 $445,691
$107,903 $102,747
68,129 70,940
1,740 4,593
6,847 5,991
81,075 86,345
3,546 17,320
3.000 2,600
14,400 10,762
6,600 6,600
65,869 72,513
60 99
10,080 11,088
300 168
3,492 3,148
900 960
2,040 2,058
7,840 5,897
20,000 3.969
$403,821 ll.Q..7 . 798
$ 79,444 $ 37.893
143,378 143 , 378
$222,822 $181,271
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EXPENDITURES
Purchased Water
Water Maintenance and Repairs
Water Pump Station Repairs
Electric Utility
Sewer Treatment
Sewer Maintenance and Repairs
Director Fees
Legal Fees
Audit Fees
Management Fees
Legal Notices
Data Processing
Telephone
Insurance
Printing and Office Supplies
Postage
Miscellaneous
Capital Expenditures
Total Expenditures
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Excess of Revenues Over Expenditures
FUND BALANCE AT BEGINNING OF YEAR
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FUND BALANCE AT END OF YEAR
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(See Accompanying Notes to Financial statements)
VARIANCE-
FAVORABLE
(UNFAVORABLE)
$ 13,423
(14,340)
(5,057)
(2,795)
(31,795)
2,990
$137,574)
$ 5,156
(2,811)
(2,853)
856
(5,270)
(13,774)
400
3,638
(6,644)
(39)
(1.008)
132
344
(60)
(18)
1,943
16,031
$ 13,977)
$(41,551)
$141,551)
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
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NOTES TO FINANCIAL STATEMENTS
MARCH 31. 1995
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NOTE I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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A. Reoortinq Entitv
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All significant activities and groups on which the District exercises oversight
responsibility have been included in the general purpose financial statements. The
following criteria regarding manifestation of oversight were considered by the
District in its evaluation of District organizations and activities:
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Financial Interdependencv - The District is responsible for its debts and
entitled to surpluses. No separate agency receives a financial benefit nor
imposes a financial burden on the District.
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Election of the Governinq Authoritv The locally elected Board of
Directors is exclusively responsible for all decisions and accountable for
the decisions it makes.
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Desiqnation of Manaqement - The Board of Directors hires the management
company. The activities under the purview of management are within the
scope of the reporting entity and management is accountable to the Board of
Directors for the activities being managed.
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Abilitv to Siqnificantlv Influence Operations - The Board of Directors has
the statutory authority under provision of state law, and specifically the
Texas Water Code, to significantly influence operations. This authority
includes,. but is not limited to, adoption of the budget, control over
assets, including facilities and properties, short-term borrowings, signing
contracts, and developing programs to be provided by the District.
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Accountabilitv of Fiscal Matters - The responsibility and accountability
over all funds is vested in the District's management.
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Purchases and sales of water are provided through an interconnect shared by Guadco
Municipal Utility District No. 1 and another district, Guadeo Municipal utility
District No.2. Both districts are managed by Cortes Contracting, Ine. and
administrative costs are allocated to each district. There is no oversight
relationShip among any of the previously described entities, as each is controlled
and directed by its own independently elected governing body.
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B. Description of Funds
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The District has established several funds, in conformance with generally accepted
accounting principles, for the purpose of accounting for transactions in compliance
with legal requirements. Funds and account groups in use by the District in
accounting for its financial activities are as follows:
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
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NOTES TO FINANCIAL STATEMENTS (CONTINUED)
MARCH 31. 1995
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NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
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Governmental Funds
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General Fund - To account for all of the general water and sewer revenue of the
District and other revenue not specifically levied or collected for other District
funds, and for expenditures related to the maintenance of operations.
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Debt Service Fund - To account for the source and disposition of funds for paying
interest and principal on general long-term debt and fiscal agents' expenses.
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Capital Proiects Fund - To account for the acquisition of capital facilities being
financed from bond proceeds.
Account Groups
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General Fixed Assets Accounts - To account for property, plant, and equipment of the
District.
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General Lonq-Term Debt Accounts
outstanding bonds~
To account for the unmatured principal of
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c. Basis of Accountinq
The District maintains its accounting records on the modified accrual basis. The
modified accrual basis recognizes revenues that are susceptible to accrual when
measurable and available, and generally recognizes expenditures when incurred
including expenses that norm.ally may qualify as prepaid expenses. "Measurable"
means the amount of the transaction can be determined, and "available" means
collectible within the current period or soon enough thereafter to be used to pay
liabilities of the current periOd. Property taxes remaining uncollected at year end
are reported as deferred revenues, since they are not considered to be available.
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Cash includes amounts in demand deposits, and interest-bearing deposits held by the
District. Cash in excess of current requirements is invested in various interest-
bearing instruments and disclosed as part of investments, primarily in u. s.
obligations~ These deposits and u.s. Obligations were authorized by legal
provisions.
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E.
Investments
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All investments during the fiscal year consisted of short-term U.S. Treasury Bills
held in the District's name and carried at cost. It is the policy and practice of
the District to hold all treasury bills to maturity. (See Page 18.)
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GUADCO MUNICIPAL UTILITY DISTRICT NO.1
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NOTES TO FINANCIAL STATEMENTS (CONTINUED)
MARCH 31. 1995
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NOTE 1, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
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F. Receivables
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All receivables are reported at gross
uncollectible amounts in the customer water
proven to be adequate to cover liabilities
values. There is no estimate
and sewer accounts as the deposits
except in non-material amounts.
for
have
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G. Interest Receivable
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Interest on investments is recorded as revenue in the year the interest is earned
and is available to pay liabilities of the current period.
H. Property. Plant. and Eauipment
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Property, plant, and equipment, including infrastructure assets, are recorded at
cost when acquired.. General fixed assets are recorded as expenditures in the
general fund and capital projects fund at the time of purchase and are capitalized
in the General Fixed Assets Account Group. No depreciation is provided for on the
general fixed assets of the District.
Costs related to repairs and maintenance are recorded as expenditures. Significant
renovations and improvements are capitalized when incurred. Interest costs are not
capitalized on projects financed by government grants, third-party donations, or on
assets that will be reported in the General Fixed Assets Account Group.
I I. Emplovee Salaries~ Taxes, and Pension Plans
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The District has engaged a management firm to oversee the monthly operations in a
manner dictated by the Board of Directors. Thus, the District has no employees and
is not required to pay salaries, payroll taxes, or amounts to pension plans.
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J. Budqets
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The District follows these procedures in establishing the budgetary data reflected
in the financial statements:
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1. Formal budgetary integration is employed as a management control service during
the year for the general fund and is presented to directors monthly in the
internal accounting information.
2.
The manager prepares
meeting. The budget
meeting.
the budget for
is discussed,
Board review usually
any changes made, and
at the
passed
December
at March
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3. The Board approves total budget appropriations.
4. Any unused appropriations of the bUdget lapse at the end of the fiscal year.
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5. The budget amounts reflected in the financial statements are the final
authorized amounts after any mid-year revisions are made to the budget.
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
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NOTES TO FINANCIAL STATEMENTS (CONTINUED)
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MARCH 31. 1995
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NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {CONTINUED}
K. Comparative Data
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Comparative totals for the prior year have been presented in the accompanying
financial statements in order to provide an understanding of changes in the
District's financial position and operations. However, comparative data by fund
type has not been presented in each of the statements since their inclusion would
make the statements unduly complex and difficult to read.
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L. Total Columns on combined statements
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Total columns on the combined statements are captioned Memorandum Only to indicate
that they are presented only to facilitate financial analysis. Data in these
columns does not present financial position, results of operations, or changes in
financial position in conformity with generally accepted accounting principles.
Neither is such data comparable to a consolidation. Interfund eliminations have not
been made in the aggregation of this data.
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NOTE 2: STEWARDSHIP. COMPLIANCE. AND ACCOUNTABILITY
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A.
Compliance with Bond Covenants - The annual debt service requirements
1995, of all bonds, is $277,191, and the balance of the interest and
at March 31, 1995, is $475,595. The District met or exceeded
requirements of all bond issues on a timely basis. Expenditures and
the interest and sinking fund were all of an authorized nature.
at March 31,
sinking fund
the funding
resources of
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B. Deposits with Financial Institutions - All investments, demand deposits, and savings
of the District were sufficiently covered through either FDIC insurance amounts,
collateralized deposits in the District's name, held by other banks, or by the
nature of the investment (purchase of u.s. Treasury Bills). Throughout the fiscal
year, the District's only investments were in the form of u.s. Treasury Notes and
Bills.
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Deposits
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At March 31, 1995, the bank balance of the District's
entire amount was covered by $100,000 federal
collateralized deposits held in the District's name.
deposits was
depository
$239,539.
insurance
This
and
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The collateral for the District's deposits is categorized to give an indication of
the level of risk assumed by the District at year end. Category 1 includes deposits
that are insured or registered or for which the securities are held by the District
or its agent in the District's name. Category 2 includes uninsured and unregistered
deposits for which the securities are held by the counterparty's trust department
or agent in" the District's name. Category 3 includes uninsured and unregistered
deposits for which the securities are held by the counterparty's trust department
or agent, but not in the District's name.
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
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MARCH 31. 1995
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NOTE 2: STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY (CONTINUED)
B. Deposits with Financial Institutions 'Continued)
II Deposits (Continued)
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BANK COLLATERAL
DEPOSITS CATEGORY BANK MARKET
COVERED BY 1 2 3 BALANCE VALUE
Collateralized Deposits $139,372 $ $ $139,372 $139,539
FDIC Insurance 100,000 100.000 100,000
TOTALS $239,372 ,L;;.Q.;;. $ -0- $239.372 $239,539
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The District is allowed to invest in (1) obligations of the United States or its
agencies and instrumentalities; (2) direct obligations of the state of Texas or its
agencies; (3) other obligations, the principal of and interest on which are
unconditionally guaranteed or insured by the state of Texas or the United states;
(4) obligations of states, agencies, counties, cities, and other political
subdivisions of any state having been rated as to investment quality by a nationally
recognized investment rating firm and having received a rating of not less than ftAA"
or its equivalent; (5) certificates of deposits issued by state and national banks
domiciled in Texas that are guaranteed or insured by the Federal Deposit Insurance
Corporation or its successor, or secured by obligations mentioned above; and (6)
fully collateralized direct repurchase agreements having a defined termination date.
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For fiscal year 1995, the District invested only in the U. S. Treasury bills and
notes. The District records all interest revenue related to investment activities
in the respective funds in which they are earned.
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Investments
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The District's investments are categorized to give an indication of level of risk
assumed by the District at year end. Category 1 includes investments that are
insured or registered or for which the securities are held by the District or its
agent in the District's name. Category 2 includes uninsured and unregistered
investments for which the securities are held by the counterparty's trust department
or agent in the District's name. Category 3 includes uninsured and unregistered
investments favor which the securities are held by the counterparty's trust
department or agent, but not in the District's name.
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
MARCH 31. 1995
NOTE 2: STEWARDSHIP. COMPLIANCE. AND ACCOUNTABILITY (CONTINUED)
I B. Deposits with Financial Institutions (Continued)
Investments (Continued)
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Investments are stated at cost, and all investment activities are conducted through
the depository bank. During 1994, the District did not invest through any security
brokers or dealers. Treasury bills are bought and held at the depository bank in
safekeeping.
DESCRIPTION
1
CATEGORY
2
CARRYING
AMOUNT
MARKET
VALUE
3
$535.066 ~ ~ $535.066 $547.901
Treasury Notes
I NOTE 3: CREATION OF DISTRICT
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Guadco Municipal utility District No. 1 was created by an order of the Texas Water
Rights Commission on October 28, 1975 and confirmed by the electorate of Guadco
Municipal Utility District No.1 at a confirmation election held on December 17. 1975.
The District is operating pursuant to the provisions of Chapter 54, Texas Water Code,
as amended. The Board of Directors, consisting of five elected property owners, held
its first meeting on December 22, 1975, and the first bonds were sold on March 1, 1977.
NOTE 4; ACCOUNTS RECEIVABLE
At March 31, 1995, the District's accounts
following;
receivable balance consisted of the
Water and Sewer Service Receivables
Other Accounts Receivable
$13,621
4.161
TOTAL
$17.782
NOTE 5; GENERAL LONG-TERM DEBT
A summary of changes in general long-term debt follows:
TAX AND REVENUE BONDS
SERIES 1977 SERIES 1978 SERIES 1984 SERIES 1987
TOTAL
Bonds Payable
at April 1, 1994 $1,145,000 $520.000 $ 70,000 $545,000 $2,280,000
Add Bonds Issued
Less Bonds Retired 55.000 25.000 70.000 25.000 175.000
BONDS PAYABLE AT
MARCH 31, 1995 $1. 090.000 $495.000 $ -0- $520.000 $2.105.000
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
MARCH 31. 1995
NOTE 5:
GENERAL LONG-TERM DEBT (CONTINUED)
II At March 31, 1995, the District's long-term debt consisted of:
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MATURITY
RANGE OF
INTEREST
RATES
GENERAL
LONG-TERM
DEBT
CURRENT
MATURITIES
LONG-TERM
MATURITIES
Water Works and Sewer
System Combination Serially
Unlimited Tax and Revenue through 6.70% -
Bonds Series 1977 2005 7.00% $1,090,000 $60,000 $1,030,000
Water Works and Sewer
System Combination Serially
Unlimited Tax and Revenue through 6.25% -
Bonds Series 1978 2005 7.50% 495,000 30,000 465,000
Water Works and Sewer Beginning
System Combination in 1990
Unlimited Tax and Revenue Serially 7.80% -
Bonds Series 1987 to 2005 10.00% 520,000 50.000 470,000
TOTALS $2,1051'000 $140.000 $1,965,000
II A schedule of bond maturities for the next five (5) years is as follows:
TAX AllD REVENUE BONDS
SERIES 1977 SERIES 1978 SERIES 1987
1996 $ 134,070 $ 61,538 $ 93,530
1997 139,615 59,542 89,530
1998 134,750 62,365 85,530
1999 139,500 60,020 81,480
2000 138,725 62,507 77 ,380
Thereafter 893.175 394.791 341,053
TOTALS $1.579.835 $700.763 $768,503
Principal $1,090,000 $495,000 $520,000
Interest 489,835 205.763 248.503
TOTALS $1.579,835 $700.763 $768.503
TOTAL
$ 289,138
288,687
2B2,645
281,000
278,612
1. 629.019
$3.049.101
$2,105,000
944.101
$3,049,101
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
MARCH 31, 1995
II NOTE 5: GENERAL LONG-TERM DEBT (CONTINUED)
Tax and revenue bonds authorized and unissued as of March 31, 1995, amounted to
$1,280,000.
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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 and secured by a lien on the pledge of the net revenues to be
received from the operation of the District's waterworks and sanitary sewer system.
outstanding bonds which mature in the years 1994 to 2005 for 1977 Series, 1994 to 2005
for 1978 Series, or 1999 to 2005 for 1987 Series are callable for redemption at any
interest payment due date at the option of the District. The bonds may be called in
whole or in part for the purpose of retirement or refunding, or both... at par in addition
to unpaid accrued interest.
NOTE 6; WATER AND SEWER SERVICE RATES
The Guadco Municipal Utility District No. 1 has established the following water and
sewer service rates for residential or multi-family customers:
Water Service Only, 5/8" Line
First 3,000 Gallons of Water Used -
Minimum Bill $ 17 .58
Each 1,000 Gallons of Water Used From 3,001 to 18,000 1.85
Each 1,000 Gallons of Water Used From 18,001 to 30,000 2.93
Each 1,000 Gallons of Water Used From 30,001 to 45,000 4.01
Each 1,000 Gallons of Water Used From 45,001 to 60,000 5.21
Each 1,000 Gallons of Water Over 60,001 .32
Sewer Service Only
First 5,000 Gallons of Water Used -
Minimum Bill
Each 1,000 Gallons of Water Used Thereafter
$ 13.85
.55
Deposits
Refundable Deposit - Owner
Refundable Deposit - Renter
$ 75.00
150.00
Tap Fees
Standard Home
$1,315.00
The rates above have not been sufficient to fund operating costs. At a regular meeting
held on October 19, 1994, a maintenance tax of $0.09 per $100.00 valuation was approved
to help defray part of the cost of operations. This levy provided the District $42,943
during the fiscal year.
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
MARCH 31. 1995
NOTE 7: CHANGES IN FIXED ASSETS
A summary of changes in general fixed assets and organizational costs follows:
BALANCE
APRIL 1,
1994
BALANCE
MARCH 31,
1995
NET
ADDITIONS
(DELETIONS)
Land
Water System.
Sewage System
Drainage System
Engineering Fees
Organizational Costs
$ 31,176
1,110,523
1,072,329
541.945
301,433
653.503
$
$ 31,176
1,114,492
1,072,329
541,945
301,433
653.503
3,969
TOTALS
$3.710,909
$3.714,878
$ 3.969
The District, in conformance with requirements of the Texas Natural Resource
Conservation Commission, capitalized and charged to organization costs for the creation
period all costs incurred in the creation of the District allowed by statute. The
Texas Water Commission also requires capitalization as organizational costs for the
construction period all costs incurred in the issued and sale of bonds, bond interest
and amortized bond premium and discount, losses on sales of investments, accrued
interest on investments purchased, attorney fees and some administrative expenses until
construction and acceptance or use of the first revenue prOducing facility has
occurred.
Investment interest earnings and gains on sales of investments were capitalized as a
reduction to organizational costs for the construction period.
NOTE 8: INTERFUND RECEIVABLES AND PAYABLES
The following is a summary of amounts due from and due to other funds:
DUE FROM DUE TO
General Fund
Debt Service Fund
Debt Service Fund
General Fund
Capital Projects Fnnd
Debt Service Fund
$ $ 2,057
2,057 40,000
40.000
TOTAL ALL FUNDS
$42.057 $42.057
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GUADCO MUNICIPAL UTILITY DISTRICT NO.1
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
MARCH 31. 1995
NOTE 9:
PROPERTY TAXES
Property taxes attach as an enforceable lien on property as of January I, are due
October 1, and become delinquent on February 1. Property taxes for the District are
not limi.ted as to rate or amount. The District's current tax rate is $0.68 per $100.00
of assessed valuation and assessed valuation is approximately 100% of actual value.
Of the $O.6B per $100.00 of assessed valuation, $0.59 is designated for debt service
and $0.09 is designated for maintenance.
NOTE 10: FUND EOUITY RESERVES
The District records one (1) general type of reserve. The one (1) type is used to
indicate that a portion of the fund equity is legally restricted for a specific future
use.
Following is a list of all reserves used by the District and a description of each:
Reserved for Debt service - An account used to indicate that certain assets
are legally restricted by the bond indenture to be used for specific purposes.
Reserved for Capital proiects - An account used to indicate that certain
assets are legally restricted to be used for specific purpose.
NOTE 11:
EXCESS OF EXPENDITURES OVER REVENUES
During the current and
expenditures in excess of
the next few years until
approved.
the prior fiscal years the debt service fund incurred
revenues it earned. This excess is expected to continue for
either property values increase or a tax rate increase is
The surpluses, accumulated in past years when interest rates were very high, in the
debt service fund are adequate to fund this practice and meet principal and interest
payments when due.
NOTE 12: COMMITMENTS
The District purchases its water supply from the city of Schertz, Texas, under a
contract dated May, 1975. The contract is for a term of 30 years, at which time it is
renewable for a maximum of 15 years.
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SUPPLEMENTAL INFORMATION
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YES 1'!2-
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-1L
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-1L
-1L
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-1L
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-1L
-1L
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-1L
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-1L
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-1L
-1L
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-1L
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GUADCO MUNICIPAL UTILITY DISTRICT NO.1
SUPPLEMENTAL SCHEDULES INCLUDED WITHIN THIS REPORT
YEAR ENDED MARCH 31, 1995
PAGE
NUMBER
D. NOTES REQUIRED BY THE WATER DISTRICT ACCOUNTING
MANUAL - ALL NOTES REQUIRED BY THE WATER DISTRICT
ACCOUNTING MANUAL HAVE BEEN FULLY DISCLOSED IN THE
GENERAL PURPOSE FINANCIAL STATEMENTS
E. SCHEDULE OF SERVICES AND RATES
F. SCHEDULE OF GENERAL FUND EXPENDITURES
G. SCHEDULE OF TEMPORARY INVESTMENTS
H. ANALYSIS OF TAXES RECEIVABLE
I. ANALYSIS OF CHANGES IN GENERAL FIXED
ASSETS AND ORGANIZATIONAL COSTS
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J. GENERAL LONG-TERM DEBT SERVICE
REQUIREMENTS - BY YEARS
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K. ANALYSIS OF CHANGES IN GENERAL
LONG-TERM DEBT
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L. COMPARATIVE SCHEDULE OF REVENUES AND
EXPENDITURES, GENERAL FUND AND DEBT
SERVICE FUND - FIVE YEARS ENDED
MARCH 31, 1995
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M. INSURANCE COVERAGE
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N. BOARD MEMBERS, KEY ADMINISTRATIVE
PERSONNEL, AND CONSULTANTS
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O. ANNUAL FILING AFFIDAVIT
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
E. SCHEDULE OF SERVICES AND RATES
YEAR ENDED MARCH 31, 1995
1.
Services Provided by the District:
x
X
Retail Water Wholesale Water
Retail Wastewater Wholesale Wastewater
Parks/Recreation Fire Protection
Solid Waste/Garbage Flood Control
Participates in Joint Venture, Regional System
(Other Than Emergency Interconnect)
Other (Specify)
_ Drainage
Irrigation
_ Security
Roads
and/or Wastewater Service
2. Retail Rates Based on 5/811 Meter N/A Retail Rates Not Applicable
Based on Rate Order Dated: April 20. 1994
The Most Prevalent Type of Meter (if not a 5/8"): N/A
FLAT RATE PER 1,000
MINIMUM MINIMUM RATE GALLONS OVER
CHARGE USAGE U!L MINIMUM USAGE LEVELS
WATER $17.58 3,000 Gallons N $1. 85 3,001 to
18,000
WASTEWATER $13.85 5,000 Gallons N $ .55 3,001 to
Thereafter
SURCHARGE $ -0- 0
District Employs Winter Averaging for Wastewater Usage?
Yes
No
X
Total Water and Wastewater Charges per 10,000 Gallons
Usage (Including Surcharges)
$47.13
3.
standby Fees: Does the District Assess Standby Fees?
If Yes, Specify Amount and Basis of the Assessment.
YES
X
NO
$_._ Per Lot $_._ Per Acre
Other or Non-Uniform Rates
(Check One)
Per Year
Per Quarter
Per Month
Percent Allocated to:
General Fund ____%
Debt Service Fund ____%
Have standby Fees Been Approved by the Texas Water Commission?
Yes
No
Have Standby Fees Been Levied in Accordance with Water Code Section 50.056, Thereby
Constituting a Lien on Property?
Yes No
(See Accompanying Notes to Financial statements)
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
E. SCHEDULE OF SERVICES AND RATES (CONTINUED)
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YEAR ENDED MARCH 31, 1995
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4. Total Water Consumption (rounded to the nearest 1,000) During the Fiscal Year:
Gallons Pumped into System
79,617,157
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Gallons Billed to Customers
73,315,074
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S. Number of retail water and/or wastewater* connections within the District as of
fiscal year ended March 31, 1995:
CONNECTIONS
ACTIVE CONNECTIONS
INACTIVE CONNECTIONS>>
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Single Family
MUlti-Family
Commercial
Other - Recreational Centers,
Government, and VFD
667
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TOTALS
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* Number of connections relates to water service if provided. otherwise, number of
wastewater connections should be provided.
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** "Inactive" means that water and wastewater connections were made, but service is not
being provided.
6. Anticipated sources of funds to be used for debt service payments in the District's
following fiscal year:
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AMOUNT
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a. Debt Service Tax Receipts
b. Surplus Construction Funds
c. Water and/or Wastewater Revenue
d. Standby Fees
e. Beginning Debt Service Fund Balances
f. Interest Revenues
g. Other (Descrihe)
$270,449
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18,689
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TOTAL ANTICIPATED FUNDS TO BE USED>
$289.138
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> This total should equal the District's total annual debt service for the fiscal year
following the fiscal year reported or in the audited financial statements.
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(See Accompanying Notes to Financial Statements)
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
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F. SCHEDULE OF GENERAL FUND EXPENDITURES
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YEAR ENDED MARCH 31. 1995
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CURRENT
Personnel (Including Benefits)
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PROFESSIONAL FEES
Auditing
Legal
Engineering
Financial Advisor
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PURCHASED SERVICES FOR RESALE
Bulk Water and Sewer Service Purchases
Tap Connection Expenses
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CONTRACTED SERVICES
Bookkeeping
General Manager
Appraisal District
Tax Collector
Other Contracted Services
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UTILITIES
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REPAIRS AND MAINTENANCE
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ADMINISTRATIVE EXPENDITURES
Directors' Fees
Office Supplies
Insurance
Other Administrative Expenses (Data Processing)
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CAPITAL OUTLAY
Acquisition of Fixed Assets
SOLID WASTE DISPOSAL (Sewer Only Not Garbage)
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PARKS AND RECREATION
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OTHER EXPENDITURES
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TOTAL EXPENDITURES
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Number of persons employed by the District.
(Do not include independent contractors or consultants)
All Services in District Provided by Contractors or
I Management Company.
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(See Accompanying Notes to Financial Statements)
$
6,600
10,762
189,091
4,008
72,513
6,159
93,306
2,600
3,017
3,148
11,088
3,969
1.537
$407.798
Full-Time
Part-Time
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
G. SCHEDULE OF TEMPORARY INVESTMENTS
YEAR ENDED MARCH 31, 1995
FUNDS
IDENTIFICATION
NUMBER
GENERAL FUND -
RESTRICTED ASSETS
U.S. Treasury Bill
#912794T20
GENERAL FUND -
UNRESTRICTED ASSETS
U.S. Treasury Bill
#912794T20
,
DEBT SERVICE FUND
U.S. Treasury Bill
#91p94T20
CAPITAL PROJECTS FUND
U.S. Treasury Bill
#912794T20
TOTAL - ALL FUNDS
(See Accompanying Notes to Financia1 Statements)
INTEREST
RATE
5.972%
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5.972%
5.972%
5.972%
MATURITY
DATE
OB-25-95
08-25-95
08-25-95
08-25-95
COST
BALANCES AT
END OF YEAR
$ 76,513
58,840
384,933
14,780
$535,066
MARKET
BALANCES AT
END OF YEAR
$ 78,348
60,251
394,167
15,135
$547,901
ACCRUED
INTEREST
RECEIVABLE
AT END
OF YEAR
$ 380
292
1,911
73
$2,656
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$ 83 $ 536
292 1,885
234 1,357
346 1,792
452 2,158
401 1,891
401 1,891
574 2,708
2.832 18.555
$5~615 $32.773
1991 1990
GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
H. ANALYSIS OF TAXES RECEIVABLE
YEAR ENDED MARCH 31. 1995
MAINTENANCE
TAXES
Taxes Receivable at April 1, 1994
1994 Year Original Roll
Total to be Accounted for
$ 6,645
41.913
$48.558
DEBT
SERVICE
TAXES
$ 32,512
274.653
$307.165
$256,097
18.295
$274.392
$ 32.773
PROPERTY VALUATIONS
Land $ 8,429,310 $ 8,842,560 $ 8,909,700 $ 8,930,560 $ 9,932,560
Improvements 37,430,050 31,540,900 30,515,130 30,652.530 31,619,930
Personal Property 694.539 754.121 814.221 413.794 490.490
TOTAL PROPERTY
VALUATIONS $46.553.899 $41.137 .581 $40.239.051 $39.996.884 $42.042.980
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Tax Collections
Current Year
Delinquent Years
Total Collections
$39,082
3.861
$42.943
TAXES RECEIVABLE AT MARCH 31, 1995
$ 5,615
TAXES RECEIVABLE
BY YEARS
1986
1987
1988
1989
1990
1991
1992
1993
1994
TOTALS
1995
1994
1992
(See Accompanying Notes to Financial Statements)
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GUADCO MUNICIPAL UTILITY DISTRICT NO.1
R. ANALYSIS OF TAXES RECEIVABLE (CONTINUED)
YEAR ENDED MARCH 31, 1995
1995 1994 1993 1992 1991
TAX RATES PER $100
VALUATION
Debt Service Tax
Rates
Maintenance Tax
Rates
$ .59 $ .66 $ .66 $ .66 $ .645
.09 .14 .14 .14 .135
TOTAL TAX RATE
PER $100
VALUATION
$ .68 $ .80 $ .80 $ .80 $ .78
TAX ROLLS
$316,566 $329.089 $321.912 $319.975 $327,936
FOR THE YEAR ENDED MARCH 31. 1995
ALL TAXES
Percent of Current Taxes Collected
to Current Taxes Levied
93.2%
Percent of Current and Delinquent Taxes
Collected to Current Taxes Levied and
Delinquent Taxes Outstanding at the
Beginning of the Year
89.2%
(See Accompanying Notes to Financial statements)
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
I. ANALYSIS OF CHANGES IN GENERAL FIXED ASSETS AND ORGANIZATIONAL COSTS
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YEAR ENDED MARCH 31. 1995
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BALANCES
APRIL 1, 1994 ADDITIONS
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Land
Water System
Sewer System
Drainage System
Engineering Fees
Capitalized Construction
Period Costs
653.503
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$ 31,176
1.110,523
1,072,329
541.945
301,433
$
3,969
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TOTALS
$3,710.909
$3,969
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Additions Provided by
Operations
Construction Fund
Contribution from
Developer
$ 283,421
2,447,726
$3,969
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979,762
TOTALS
$3.710.909
$3.969
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(See Accompanying Notes to Financial Statements)
BALANCES
(DELETIONS) MARCH 31. 1995
$
$ 31,176
1,114,492
1,072,329
541,945
301,433
653,503
$ -0-
$3.714. 878
$
$ 287,390
2,447.726
979,762
$ -0-
$3,714.878
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GUADCO MUNICIPAL UTILITY DISTRICT NO.1
J. GENERAL LONG-TERM DEBT SERVICE REQUIREMENTS - BY YEARS
YEAR ENDED MARCH 31. 1995
Cash and Temporary Investment Balances at March 31, 1995
Debt Service Fund $475.595
(See Accompanying Notes to Financial statements)
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
K. ANALYSIS OF CHANGES IN GENERAL LONG-TERM DEBT
YEAR ENDED MARCH 31. 1995
SERIES
1977
BOND ISSUES
SERIES
1984
SERIES
1978
SERIES
1987
TOTALS
Interest Rate
6.7 - 7%
6.25 - 7.5%
8 - 10%
7.8 - 10%
Dates Interest Payable
3-1; 9-1
3-11 9-1
3-1; 9-1
3-1; 9-1
Maturity Dates
9-1-84 to
9-1-05
9-1-84 to
9-1-05
3-1-84 to
3-1-95
3-1-90 to
3-1-05
Bonds Outstanding at
Beginning of Current Year $1,145,000 $520,000 $ 70,000 $545,000 $2,280,000
Bonds Sold During the
Current Year
Retirements - Principal 55.000 25.000 70.000 25.000 175.000
Bonds Outstanding at End
of Current Year $1.090.000 $495.000 $ -0- $520.000 $2.105.000
Retirements - Interest $ 77 . 954 $ 33.352 $ 7,000 $ 45.530 $ 163.836
PAYING AGENT'S NAME AND ADDRESS
Series 1977 NationsBank of Texas, Post Office Box 830254, Dallas, Texas,
75283-0254
Series 1978 NationsBank of Texas, Post Office Box 830254, Dallas, Texas,
75283-0254
Series 1984 Texas Commerce Bank, Post Offioe Box 2558, Houston, Texas, 77252
Series 1987 Texas Commerce Bank, Post Office Box 2558, Houston, Texas, 77252
BOND AUTHORITY
TAX BONDS
OTHER BONDS REFUNDING BONDS
Amount Authorized by Voters
$4,650,000
$ -
$ -
Amount Issued
3,370,000
Remaining to be Issued
1,280,000
(See Accompanying Notes to Financial Statements)
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I GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
L. COMPARATIVE SCHEDULE OF REVENUES AND EXPENDITURES
GENERAL FUND AND DEBT SERVICE FUND
I FIVE YEARS ENDED MARCH 31, 1995
AMOUNTS PERCENT OF FUND TOTAL REVENUES
1995 1994 1993 1992 1991 1995 1994 1993 1992 1991
I GENERAL FUND REVENUES
Property Taxes $ 42,943 $ 58,284 $ 53,459 $ 55,701 $ 58,554 9.6 % 13.5 % 13.3 % 14.5 % 15.7 %
I Water Services 242,760 215,691 203,834 189,679 176,199 54.5 50.0 50.8 49.5 47.2
Sewer Services 132,609 135,072 129,731 126,358 125,515 29.8 31.3 32.3 32.9 33.6
Penalty and Interest 3,084 5,443 5,464 5,453 4,827 .7 1.3 1.4 1.4 1.3
Tap Connection Fees 16,745 13,025 2,400 3.8 3.0 .6
I Interest on Time Deposits 7,550 3,638 4,533 6,529 8,504 1.6 .9 1.1 1.7 2.2
Miscellaneous 1,778 ---:2. .0 --=...Q.
Total Revenues $445,691 $431,153 $401,199 $383,72Q. $373,599 100.0 % 100.0 % 100.0 % 100.0 % 100.0 %
I EXPENDITURES
Purchased Water and Sewer Services $189,091 $187,045 $180,605 $172,119 $168,296 42.4 % 43.4 % 45.0 % 44.9 % 45.0 %
Professional Fees 19,962 22,136 21,850 20,224 22,675 4.5 5.4 5.4 5.3 6.1
I Engineering 4,080 1.0
Contracted Services 83,601 68,718 66,983 67,500 67,536 18.B 15.9 16.7 17.6 18.1
Utilities 6,159 6,478 7,580 6,422 8,787 1.4 1.5 .9 1.7 2.4
Material and Supplies 3,017 3,876 2,789 2,782 3,309 .7 .9 .7 .7 1.9
I Repairs and Maintenance 93,306 59,529 59,404 75,723 57,12B 20.9 13.8 14.8 19.7 15.3
Insurance 3,148 3,208 3,715 3,654 3,140 .7 .7 .9 1.0 .8
Other Expenditures 5,545 2,185 1,733 1,194 1,923 1.2 .5 .4 .2 .5
Capital Outlay 3,969 53,013 15,029 44,004 .9 12 .1 3.9 .0 ....!h!!.
I Total Expenditures $407,798 $406,18B $363,768 $349,618 $376,798 91.5 % 94.2 % ..J!Q.:1. % 91.1 % .!.Q.Q..,,2, %
EXCESS REVENUES (EXPENDITURES) $ 37,893 $ 24,965 $ 37,431 $ 34,102 $ (3,199) 8.5 % 5.8 % 9.3 % 8.9 % .......L:.2.)%
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I DEBT SERVICE FUND REVENUES
Property Taxes $274,392 $274,777 $252,263 $262,984 $282,833 90.9 % 91.8 % 90.5 % 87.0 % B2.0%
Penalty and Interest 8,918 9,138 5,238 5,937 8,993 3.0 3.1 1.9 2.0 2.6
I Interest on Time Deposi~s 18,689 15 , 4 70 21,236 33,328 52,987 6.1 5.1 7.6 11.0 15.4
Total Revenues $301,999 $299,385 $278,737 $302,249 $344,813 100.0 % 100.0 % 100.0 % 100.0 % 1.Q.Q..:...Q. %
EXPENDITURES
I Tax Collection Services $ 31,407 $ 26,641 $ 19,544 $ 19,146 $ 21,116 10.4 % 8.9 % 7.0 % 6.3 % 6.1 %
Debt Service, Interest and Fees 336,277 341,306 347,033 343,22~. 338,512 111. 4 114.0 124.5 113.6 ....2U
Total Expenditures $367,684 $367,947 $366,577 $362,375. $359,628 121. 8 % 122.9 % .!l!..,2, % 119.9 % 104.3 %
I EXCESS REVENUES (EXPENDITURES) $(65,685) $(68,562) $(87,840) $(60,126) $(14,815) (21.8)% (22.9)% .I..ll.:.1) % (19.9)% ~)%
Average Annual Debt Service Requirement
I for Unpaid Principal and Interest $277,191 $282,328 $286,952 $290,728 $293,755
Excess Revenues from General Fund and Debt Service
Fund before Expenditures for Debt Service $308,485 $297,709 $296,624 $317,205 $320,498
I Coverage (Excess Revenues as Adjusted,
Divided by Annual Debt Service Requirement) 1.11 1.05 1.03 1. 09 1.09
I Number of Water and Sewer Connections at End of Year 667 653 638 621 611
Total Amount of Water Billed to Customers
(in Thousands of Gallons) 73,316 81,027 77,676 68,244 74,772
I Total Amount of Water Pumped into System
(in Thousands of Gallons) 79,618 88,655 85,805 84,536 96,630
I Percentage of Water Billed to Water Pumped 92.1% 91.4% 90.5% 80.7% 77.4%
(See Accompanying Notes to Financial Statements) 24
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Director Fidelity Bond - 5 Directors'
Employee Dishonesty Bond -
3 staff Persons (Management Company)
Fire and Lightning
Building
Fence
Tank 3550 Morning Drive
Tank 9800 Morning Drive
Fence
,
Liabili ty
Automotive
Property Damage
Bodily Injury
Comprehensive
General
Products Completed
Personal Injury
Fire
Medical
Umbrella
(See Accompanying Notes to Financial statements)
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
N. BOARD MEMBERS. KEY ADMINISTRATIVE PERSONNEL. AND CONSULTANTS
YEAR ENDED MARCH 31. 1995
Complete District Mailing Address: Post Office Box 18348
San Antonio, Texas 78218
District Business Telephone Number: (210) 656-1310
NAME AND ADDRESS
TERM OF
OFFICE
ELECTED AND
EXPIRES
OR DATE
HIRED
FEES AND
EXPENSE
REIMBURSE-
MENTS
MARCH 31,
1995
TITLE AT
YEAR END
RESIDENT
OF
DISTRICT?
BOARD MEMBERS
Vance A. Opsahl
3816 Overlook 05-92 -
cibolo, Texas 78108 05-96 $600.00 President Yes
Gerald Oliver
16585 Blanco Road, No. 706 05-92 -
San Antonio, Texas 78232 06-94 150.00 Director No
Charles R. Thompson
3624 Scenic Drive 05-92 -
eihoIo, Texas 78108 05-96 600.00 Vice-President Yes
Billy M. Miller
5713 Fairways Drive 05-94 -
Cibolo, Texas 78108 05-98 300.00 Secretary/ Yes
Treasurer
William T. Kitts
3421 Sherwin 05-94 -
eihoIo, Texas 78108 05-98 500.00 Assistant Yes
Secretary/
Treasurer
William Woeckner
5001 Crestwood 08-94 -
Cibolo, Texas 78108 05-98 350.00 Treasurer Yes
John Cobb
3326 Wimbledon 05-94 -
eihoIo, Texas 78108 06-94 100.00 Director Yes
KEY ADMINISTRATIVE PERSONNEL
Louis A. Cortes
4827 Whirlwind General
San Antonio, Texas 78217 04-78 $ -0- Manager No
(See Accompanying Notes to Financial Statements) 26
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GUADCO MUNICIPAL UTILITY DISTRICT NO.1
N. BOARD MEMBERS, KEY ADMINISTRATIVE PERSONNEL, AND CONSULTANTS (CONTINUED)
YEAR ENDED MARCH 31, 1995
NAME AND ADDRESS
TERM OF
OFFICE
ELECTED AND
EXPIRES
OR DATE
HIRED
FEES AND
EXPENSE
REIMBURSE-
MENTS
MARCH 31,
1995
TITLE AT
YEAR END
RESIDENT
OF
DISTRICT?
CONSULTANTS
Ralph Brown
2008 Northwest Military Highway
San Antonio, Texas 78213 06-84 $12,676 Attorney No
Raul Garcia
Pat Wright
Garcia & Wright
407 West Rhapsody Project
San Antonio, Texas 78216 01-82 $ 3,969 Engineer No
R. Craig Rathman
Rauscher, Pierce, Refsnes, Inc~
1001 Fannin street, #700 Financial
Houston, Texas 77002 09-91 $ 719 Advisor No
Bob Leared Interests
lllll Katy Freeway, #725 Tax Assessor-
Houston, Texas 77079 06-86 $ll,307 Collector No
cortes Contracting, Inc~
4827 Whirlwind
San Antonio, Texas 78217 04-78 $72,513 Operator No
Comal County Appraisal District Central
Post Office Box 1222 Appraisal
New Braunfels, Texas 78130 11-80 $ 4,849 District No
John W. Green
Thompson, Williams, Biediger,
Kastor & Young, L.C.
800 N.W. Loop 410, Suite 300N
San Antonio, Texas 78216-56ll 02-93 $ 6,600 Auditor No
(See Accompanying Notes to Financial Statements)
27
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GUADCO MUNICIPAL UTILITY DISTRICT NO. 1
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O.
ANNUAL FILING AFFIDAVIT
MARCH 31, 1995
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THE STATE OF TEXAS
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GUADALUPE AND COMAL COUNTIES
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I, VANCE A. OPSAHL of the GUADCO MUNICIPAL UTILITY DISTRICT NO. 1 hereby swear, or
affirm, that the District named above has filed copies of its annual audit report of
the fiscal year or period ended March 31, 1995, in the district office and with the
city or county listed below.
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This annual filing affidavit and the attached copy of the annual audit report are being
submitted to the Commission in satisfaction of all annual filing requirements within
Section 50.374 of the Texas Water Code.
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Guadco Municipal utility District No.1, Guadalupe and Comal Counties, Texas
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Date.
il . .)J
r/.;'"'.(:! ~/
, 1995
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(Signature of Distriot Official)
\ ./ '/'/" !;"
Ii ,"}' ,A,,;,) l('<<.Ibl-/pLI
I' ;x....J~.L_"_" .'c/O" ..c.'''ji-- '"l:- ,(
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Vance A.
opsahl/__)"
(. ,/
\...." j:;/-1</<-:;'1...--<.-_/
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/.',' !
Sworn to and subscribed to before me this .-/.;..jr' day of
1995.
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JEAN S. CORTES
NOTARY PUBLIC
State of Texas
Com,,!. exp, 02-12.97
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\.-
L' ',.- //1 //
/' /1' / /- /"\ I?:'
<c/"Y1/,'/(/ ><, I (,--
- . .
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(Sign/tU:re of Notary)
. ~ \i ('; _L
. /1/ ,,' , ,','
lc- t?~/9 i i \ ' '----.::-O/{Z / c5'~--;,
(Printed Name" of Notary)
I
My Commission
Notary Public
Texas.
/I I /7 /).7
Expires on:: ,:::;{ -' ,/ -/6 -~ '-} 0/
in and for the state of
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