CAFR Report - 1984-1985 T
CITY OF TIGARD
1985
CE-DO NOT CIRCULATE
CITY
OF
TIGARD, OREGON
COMPREHENSIVE ANNUAL FINANCIAL REPORT
fiscal year ended June 30, 1985
TK ARU.PUBLIC LIBRARY
13125 S W HALL BLVD
TIGARD OR 97223
684-6537
Coopers
REFERENCE &Lyprand
ANNUAL .I:.L:'L.I..1.3
REFERENCE-DO NOT CIRCULATE
CITY OF TIGARD, OREGON
COMPREHENSIVE ANNUAL FINANCIAL REPORT
fiscal year ended June 30, 1985
prepared by the City of Tigard - Department of Finance
Jerri L. Widner, Director of Finance
TIGARD PUBLIC LIBRARY
13125 S W HALL BLVD
TIGARD OR 97223
634-6537
.r
CITY OF TIGARD, OREGON
TABLE OF CONTENTS
Page
INTRODUCTORY SECTION:
Letter of Transmittal i-vii
Mayor and City Council Members viii
Organization Chart ix
Certificate of Conformance in Financial
Reporting x
FINANCIAL SECTION:
ACCOUNTANTS ' REPORT 1
COMBINED FINANCIAL STATEMENTS (General Purpose
Financial Statements) :
Combined Balance Sheet - All Fund Types and
Account Groups 2
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances - All Govern-
mental Fund Types 3
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances - Budget and
Actual - All Governmental Fund Types 4
Combined Statement of Revenues, Expenses and
Changes in Retained Earnings/Fund Balance -
All Proprietary Fund Types and Similar
Trust Fund 5
Combined Statement of Changes in Financial
Position - All Proprietary Fund Types
and Similar Trust Fund 6
+ Notes to Combined Financial Statements 7
SUPPLEMENTARY DATA (Combining and Individual
Fund and Account Group Statements and Other
Financial Schedules) :
General Fund:
40 Statement of Revenues and Expenditures -
Budget and Actual 23
Special Revenue Funds:
Combining Balance Sheet 24
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances - Generally
Accepted Accounting Principles Basis 25
Statements of Revenues and Expenditures -
Budget and Actual:
Federal Revenue Sharing Fund 26
State Tax Street Fund 27
Streets SDC Fund 28
Parks SDC Fund 29
County Road Levy Fund 30
County Gas Tax Fund 31
CITY OF TIGARD, OREGON
TABLE OF CONTENTS, Continued
Page
FINANCIAL SECTION, Continued:
SUPPLEMENTARY DATA (Combining and Individual
Fund and Account Group Statements and Other
Financial Schedules) , Continued:
Special Assessments Fund:
Statement of Revenues and Expenditures -
Budget and Actual 32
Enterprise Funds:
Combining Balance Sheet 33
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings 34
Combining Statement of Changes in Financial
Position 35
Statements of Revenues and Expenses - Budget
and Actual:
Sewer Fund 36
Storm Drainage Fund 37
General Fixed Assets Account Group:
Statement of General Fixed Assets - By Sources 38
Statement of Changes in General Fixed Assets -
By Sources 39
Statement of General Fixed Assets - By Function
and Activity 40
Statement of Changes in General Fixed Assets -
By Function and Activity 41
Other Schedules:
Schedule of Property Tax Transactions and
Outstanding Balances 42
Schedule of Bond and Bond Interest Transactions 43
Schedule of Future Debt Service Requirements
of Bancroft Improvement Bonds 44
Schedule of Future Debt Service Requirements
of General Obligation Bonds 45
STATISTICAL SECTION:
General Governmental Expenditures By Function -
Budgetary Basis - for the last ten fiscal
years 46
General Governmental Revenues By Source -
Budgetary Basis - for the last ten fiscal
years 47
Property Tax Levies and Collections - for the
last ten fiscal years 48
Assessed and Estimated Actual Value of Taxable
Property - for the last ten fiscal years 49
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CITY OF TIGARD, OREGON
TABLE OF CONTENTS, Continued
w
Page
STATISTICAL SECTION, Continued:
Property Tax Rates - All Overlapping
w Governments - for the last ten fiscal years 50
Special Assessment Collections - for the last
ten fiscal years 51
Ratio of Net General Bonded Debt to Assessed
Value and Net Bonded Debt Per Capita -
for the last ten fiscal years 52
+ Computation of Legal Debt Margin 53
Computation of Overlapping General Obligation
Debt 54
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General
Expenditures - for the last ten fiscal
+► years 55
Property Value, Construction and Bank Deposits -
for the last ten fiscal years 56
Principal Taxpayers 57
Demographic Statistics S8
Miscellaneous Statistical Data 59
A.
AUDIT COMMENTS AND DISCLOSURES REQUIRED BY
STATE REGULATIONS :
Introductory Comments 60
Internal Accounting Control 61
Accounting Records 62
.. Compliance with Legal Requirements :
Budgeting and Tax Levies 62
Indebtedness 62
Adequacy of Collateral Securing Depository
Balances 62
Programs Funded from Outside Sources :
Ar Federal and State Grants 63
Federal Revenue Sharing 64
Insurance and Fidelity Bond Coverage 64
Cost Accounting System 64
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INTRODUCTORY SECTION
MI
IF
7
CITYOF TIGARD
WASHINGTON COUNTY,OREGON
September 30, 1985
Mayor John Cook and Members
of the City Council
We are pleased to submit the Comprehensive Annual Financial
Report of the City of Tigard, Oregon for the fiscal year ended
June 30, 1985 . This report was prepared by the City' s Department
of Finance. Responsibility for the accuracy of the presented data
and the completeness and fairness of the presentation, including
all disclosures, rests with the City. We believe the data, as
presented, is accurate in all material aspects, and is presented
in a manner designed to fairly set forth the financial position
and results of operations of the City as measured by the financial
activity of its various funds, and all disclosures necessary to
enable the reader to gain the maximum understanding of the City' s
financial affairs have been included.
This report has been prepared in accordance with generally
accepted accounting principles and follows guidelines recommended
by the Government Finance Officers Association of the United
+rr States and Canada.
ACCOUNTING SYSTEM AND BUDGETARY CONTROL
The City' s general governmental operations are maintained on
a modified accrual basis, with revenues being recorded when
my measurable and available and expenditures being recorded when the
goods or services are received. The City' s enterprise funds and
pension trust fund are maintained on the accrual basis .
In the development, evaluation and the necessary modification
of the City' s accounting system, consideration has been given to
wr the adequacy of internal accounting controls . Internal accounting
controls are designed to provide reasonable, but not absolute,
assurance regarding:
the safeguarding of assets against loss from unautho-
rized use or disposition and
wr
i
12755 S.W.ASH P.O. BOX 23397 TIGARD,OREGON 97223 PH:639-4171
0
• 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 control should not exceed the benefits
likely to be derived and
the evaluation of costs and benefits requires estimates
and judgments by management.
All internal control evaluations occur within the above
framework. We believe the City' s internal accounting controls
adequately safeguard assets and provide reasonable assurance of
0 proper recording of financial transactions.
The City is required by state law to budget all funds except
the Pension Trust Fund and the Special Assessments Fund (the City
elects to budget the Special Assessments Fund, however) . The
budgeting process includes citizen input through various stages of
0 preparation, public hearings and approval of the original budget
by the City Council . Additional resources not anticipated in the
original budget may be added through the use of a supplemental
budget. A supplemental budget requires hearings before the
public, publications in newspapers and approval by the City
Council . Original and supplemental budgets may be modified by the
use of appropriation transfers between the cost categories . Such
transfers require approval by the City Council .
Budgetary control is maintained at the program level by
comparison of estimated purchase amounts with adopted appropria-
tions prior to the release of purchase orders to vendors. Pur-
", chase orders which could result in an overrun of program balances
are not released until additional appropriations are made avail-
able.
THE REPORTING ENTITY AND ITS SERVICES
0 This report includes all of the funds and account groups
of the City as well as all organizations which meet the criteria
for inclusion in the report as set forth in National Council on
Governmental Accounting (NCGA) Statement No. 3 , Defining the
Governmental Entity.
The City provides a range of services as authorized in its
Charter. This includes police protection, street construction
and maintenance, sanitary sewers and storm drainages, library and
parks, land use planning and zoning, public improvements and
administrative services .
40
ii
General Governmental Functions
Revenues for general governmental functions (all govern-
"` mental funds) on a generally accepted accounting principles basis
totaled $4,814, 010 in fiscal year 1985, an increase of 25.2% over
last year. The increase over last year was due to substantial
increases in all revenue sources, except taxes and special
assessments which showed a slight decrease. The amount of
revenues from various sources and changes from last year are as
follows :
Increase
Percent (Decrease)
of From
Revenue Source Amount Total Fiscal 1984
Taxes $ 897,843 18 .6% $ (6, 395 )
Franchise fees 591, 246 12 .3 123,226
Special assessments 467, 195 9. 7 (2, 769)
Licenses and permits 524, 059 10.9 237, 741
Intergovernmental revenues 1, 058, 600 22 . 0 136, 987
Charges for services 413 , 124 8. 6 170, 022
Fines and forfeitures 134, 040 2 .8 63, 615
Miscellaneous revenues 727, 903 15 .1 245, 379
$4.814. 010 100. 0% $967. 806
Taxes consist of property taxes on commercial and
residential real and personal property within the City. A loss
of revenues associated with a special 1984 one-year levy for
police protection and community services for senior citizens was
partially offset by a $156, 000 levy for bonded indebtedness in
1985.
Assessed property valuations increased $76.7 million, repre-
senting an increase of 9.9% over last year. This increase is
mainly attributable to continuing construction of commercial
property in the City, annexations and demand for residential
property as well as inflationary increases. Current tax collec-
tions were 89.82% of the current tax levy, up .9% from last year.
The total collections (current and delinquent) to the current tax
levy were 99.24%.
Licenses and permits revenue, which consist primarily of
building permits and charges for services, which consist primarily
of system development charges, were up 83% and 70%, respectively.
These increases were due primarily to significant increases in
building activity and land development within the City.
iii
Intergovernmental revenues consist primarily of state and
county gas taxes, shared cigarette and liquor taxes and Federal
and State Revenue Sharing entitlements. Intergovernmental reve-
nues increased by 14. 9% over last year because of the adoption of
a one year County levy to fund library activities.
Expenditures for general governmental purposes on a
generally accepted accounting principles basis totaled $4,449, 782
in fiscal year 1985, an increase of 2 .0% over last year. This
"` change is due to increased expenditures over the prior year for
debt service. These increases were partially offset by a reduc-
tion of special assessment project expenditures of $799,458 from
the prior year.
Total unreserved fund balances of the City were $1,265, 159
at June 30, 1985, consisting of a $2, 041,290 deficit in the
Special Assessments Fund, $1, 611,289 in the Capital Projects Fund
for construction of certain facilities and combined balances in
the remaining funds of $1, 695, 160. The deficit in the Special
Assessments Fund arose because of the application of generally
accepted accounting principles to financial reporting for the
0 fund. Revenues are recognized only to the extent that individual
installments are considered current assets. The deficit is
expected to be reduced and eliminated as deferred special assess-
ment installments, which are subject to lien, become current
assets and are collected.
ENTERPRISE OPERATIONS
The Enterprise Funds are used to finance and account for the
acquisition, operation and maintenance of City sewer and storm
drainage facilities . The operations of these funds are accounted
for in such a manner as to show a profit or loss similar to
comparable private enterprises .
Sewer Fund
Operating revenues amounting to $531, 973 were derived from
service charges during fiscal year 1985 . Operating expenses
totaled $501,390. Net income was $47,438 after nonoperating
interest revenues were considered for the fiscal year.
Storm Drainage Fund
This fund was established during fiscal 1983 to separate
W sewer service activities from storm drainage activities . Oper-
ating revenues amounting to $162, 961 were derived from storm
drainage service charges. Net loss, including depreciation of
$106,291, was $125, 395 .
0
iv
0
RETIREMENT PROGRAMS
The City has three retirement options for employees. All
nonpolice personnel can choose between an IRA and/or the ICMA
Deferred Compensation program. Police personnel have a defined
benefit and defined contribution pension plan through Banker' s
Life Insurance Company. Banker' s Life acts as administrator of
the pension plan. The police pension plans are accounted for in
the Pension Trust Fund.
POOLED CASH AND INVESTMENTS
For the purpose of maximizing yields on short-term invest-
ments, temporary excess cash of all funds is pooled. Results of
investment activity for the fiscal year are shown below in com-
parison with the previous year:
Investment Income 1985 1984
General Fund $ 91, 980 $ 38, 012
Special Revenue Funds 68, 778 80,279
00 Capital Projects Fund 204, 658 20, 727
Special Assessments Fund 67, 975 65, 017
Enterprise Funds 19, 573 18, 896
Pension Trust Fund 164,785 81, 644
$617 , 749 $304, 575
Investments at the end of fiscal year 1985 totaled $4, 527, 367
at cost. City investments are approved by the State Treasurer in
accordance with the Oregon Revised Statutes. Automatic deposits
of shared revenues from other governmental agencies are trans-
mitted directly to the state administered local government
investment pool. However, due to noncompetitive interest rates
offered by the pool during fiscal year 1985, the City utilized the
pool' s services only as a clearing account for these direct
deposits and for investments with very short terms .
The interest earnings of investments are allocated to par-
*, ticipating funds on the basis of the monthly average of their
equities in the pooled accounts.
BONDED INDEBTEDNESS
The City' s total outstanding bonded debt at June 30, 1985 was
$5, 207, 000 of which $3, 007, 000 were Bancroft improvement bonds .
Bancroft improvement bonds are not subject to the debt limitations
described in the following paragraph. The City issued $492, 000
in Bancroft improvements bonds during fiscal 1985.
v
The State of Oregon mandates a general obligation debt limit
of 3 percent of true cash value of taxable property within the
City boundaries. This limit totaled $26, 688, 566 at June 30,
1985 . The City' s net debt subject to this limitation was
$2,200, 000, leaving the amount available for future indebtedness
at $24,488, 566.
CONCLUSION
In recent years many advancements in financial management
policies and procedures have been made by the City in an effort to
achieve a sound financial system. According to the Government
Finance Officers Association (GFOA) , "The Certificate of
Conformance is the highest form of recognition in the area of
governmental financial reporting, and its attainment represents a
significant accomplishment by a governmental unit and its manage-
ment" . It is our opinion that this report conforms to these
standards.
The overall financial condition of the City of Tigard as of
June 30, 1985 is excellent given the current recessionary economic
climate. The City continues to provide services to its citizens
well within its resources. However, as inflation and recession
continue at rates greater than revenues, the City' s management is
continually searching for ways to increase resources and implement
cost reduction programs. Both areas are under constant review,
and all areas of opportunity are being thoroughly explored so that
basic City services are not adversely affected by these economic
factors.
The future of the City of Tigard' s economic vitality appears
to be very good. The City continues to grow in spite of a gen-
erally depressed economy in the State of Oregon.
INDEPENDENT AUDIT
The State of Oregon (ORS 297 .405 to 297 .555 ) requires an
annual audit of the fiscal affairs of the City by independent
public accountants selected by the City Council. This requirement
has been complied with and the auditor' s opinion has been included
in this report.
vi
ACKNOWLEDGMENTS
We would like to express our sincere gratitude to the person-
` nel of the Finance Department who assisted and contributed to
the preparation of this report. Appreciation is also extended
to the Mayor, City Council and many City department managers,
whose continuing support is vital to the financial health of the
City of Tigard, Oregon.
Respectfully submitted,
I Jerri L. Widner
Finance Director
Po C
Rober 'W. Jean
City inistrator
0
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vii
CITY OF TIGARD, OREGON
014
MAYOR AND COUNCIL MEMBERS AS OF JUNE 30, 1985
Name Term Expires
Mayor John E. Cook December 31, 1986
10455 S .W. Johnson Street
Tigard, Oregon 97223
40 Councilman Tom Brian (President) December 31, 1988
7630 S .W. Fir Street
Tigard, Oregon 97223
Councilman Phillip R. Edin December 31, 1988
13110 S .W. Ash Drive
441, Tigard, Oregon 97223
Councilwoman Ima Scott December 31, 1986
14873 S.W. 106th
Tigard, Oregon 97223
"' Councilman Gerald R. Edwards December 31, 1986
10390 S.W. Meadow
Tigard, Oregon 97223
Robert W. Jean, City Administrator
Jerri L. Widner, Director of Finance
40
LEGAL COUNSEL
O'Donnell & Ramis
1727 N. W. Hoyt
Portland, Oregon 97209
viii
! t t t t t 4 t t t t
I.
Citizens
of
Tigard
I
MUNICIPAL MAYOR BOARDS AND d.#3 1
- COURT _ AND COMMITTEES
COUNCIL CITY OF TI RD
OREGON
CITY
ATTORNEY
CITY
ADMINISTRATIG
k (29) f 5) (11) I (10.75' 1 (18.5)
POLICE e LIBRARY FINANCE & PLANNING & PUBLIC
DEPARTMENT =DEPARTMENT SERVICES -DEVELOPMENT WORKS
1
CITY 1 1 1 I 1
If .. , p1'(,1.I,.
1 I ! 1 I n ,-rs
1
Certificate
of
Conformance
in Financial
Reporting
Presented to
City of
Tigard, Oregon
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1984
A Certificate of Conformance in Financial Reporting is
presented by the Government Finance Officers Association
of the United States and Canada to governmental units
and public employee retirement systems whose comprehensive
annual financial reports (CAFR's) are judged to substantially
conform to program standards.
pN�E Oppc t!��r W"
F�� OF THE Py
2 UNITED STATES s
AND I •resident
Aly {1i
CORPORATICANADA
Zs\ ON fa
Nast?Os
I_A/ Ill f`C�
v✓� J v�I
Executive Director
x
FINANCIAL SECTION
certified public accountants
Coopers
&Lybrand
Honorable Mayor and Council Members
City of Tigard
Tigard, Oregon
We have examined the combined financial statements of
the City of Tigard, Oregon as of and for the year ended June 30,
1985, as listed in the table of contents. Our examination was
made in accordance with generally accepted auditing standards
and the Minimum Standards for Audits of Oregon Municipal Corpora-
tions and, accordingly, included such tests of the accounting
records and such other auditing procedures as we considered
necessary in the circumstances.
In our opinion, the combined financial statements re-
ferred to above present fairly the financial position of the City
of Tigard, Oregon as of June 30, 1985, and the results of its
operations and the changes in financial position of its Enterprise
Funds and Pension Trust Fund for the year then ended, in conform-
ity with generally accepted accounting principles applied on a
basis consistent with that of the preceding year after giving
retroactive effect to the change, with which we concur, in account-
ing for Storm Drainage Fund depreciation as described in Note 16
to the combined financial statements .
Our examination was made for the purpose of forming an
opinion on the combined financial statements taken as a whole.
The combining, individual fund, and account group financial
statements and schedules listed as supplementary data in the table
of contents are presented for purposes of additional analysis and
are not a required part of the combined financial statements of
the City of Tigard, Oregon. The information has been subjected to
the auditing procedures applied in the examination of the combined
financial statements and, in our opinion, is fairly stated in all
material respects in relation to the combined financial statements
taken as a whole.
The other data included in this report, designated as
the statistical section in the table of contents, has not been
audited by us and, accordingly, we express no opinion on such
data.
COOPERS & LYBRAND
By JoAvm S.ItdbronNorn,
John L. Dethman, a partner
Portland, Oregon
September 11, 1985
1
COMBINED FINANCIAL STATEMENTS
(General Purpose Financial Statements )
I (This page intentionally left blank. )
r►
CITY OF TIGARD, OREGON
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 1985
Governmental
Special Debt
ASSETS General Revenue Service
Assets:
Cash and investments $1,299,393 $861,338 $ 2,409
Accounts receivable 28,116 25,610
Property taxes receivable 142,499 13,322
Interest receivable 9,445 4,220
Contract receivable 86,653
Assessment liens receivable
Due from other funds 260,617
Inventory of gasoline 3,591
Fixed assets, net
Amount available for bonded debt service
Amount to be provided for retirement of
general long-term debt
Total assets $1.830.314 $891,168 $15.731
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable and accrued liabilities $ 195,516
Deposits 29,247
Accrued bond coupon interest
Due to other funds 52,011 $161,751 $ 1,194 16,
Deferred revenues:
Account receivable 28,116
Property taxes 142,499 13,322
Contract receivable 86,653
Assessment liens receivable
Accrued vacation pay
Deferred compensation payable 331,744
Vf+
Bonds payable
Total liabilities 865,786 161,751 14,516
Fund equity:
Contributed capital
Investment in general fixed assets
Retained earnings
Fund balances (deficit):
Reserved for employee retirement benefits
Unreserved 964,528 729,417 1,215
Total fund equity 964,528 729,417 1,215
Total liabilities and fund equity $1.830.314 $891.168 $15,731
The accompanying notes are an integral
part of the combined financial statements.
2
S
Fund Types Proprietary Fiduciary Account Groups Total
Capital Special Fund Type Fund Type General General Long- (Memorandum
. Projects Assessment Enterprise Pension Trust Fixed Assets Term Debt Only)
$1,697,609 $ 896,395 $ 405,251 $1,295,914 $ 6,458,309
59,006 112,732
8,737 164,558
11,352 4,170 931 30,118
86,653
2,552,458 2,552,458
52,011 312,628
3,591
6,632,986 $2,763,726 9,396,712
$ 1,215 1,215
2,306,329 2,306,329
w $1.708.961 $3.453,023 $7.158.922 $1.295.914 $2.763.726 $2.307.544 $21.425.303
$ 6,941 $ 114,589 $ 317,046
11,427 40,674
2,965 2,965
sr $ 97,672 312,628
28,116
155,821
86,653
2,477,407 2,477,407
2,563 $ 107,544 110,107
to
331,744
3,007,000
2,200,000 5,207,000
97,672 5,494,313 128,579 2,307,544 9,070,161
6,469,592 6,469,592
$2,763,726 2,763,726
v 560,751 560,751
$1,295,914 1,295,914
1,611,289 (2,041,290) 1,265,159
1,611,289 (2,041,290) 7,030,343 1,295,914 2,763,726 12,355,142
$1,708.961 $3.453.023 $7.158.922 $1.295.914 $2.763.726 $2.307.544 $21.425.303
CITY OF TIGARD, OREGON
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES
for the fiscal year ended June 30, 1985
ar
air
Total
Special Debt Capital Special (Memorandum
General Revenue Service Projects Assessments Only)
Revenues:
Taxes $ 757,797 $140,046 $ 897,843
Franchise fees 591,246 591,246
arr Special assessments $ 467,195 467,195
Licenses and permits 502,030 $ 22,029 524,059
Intergovernmental revenues 515,417 543,183 1,058,600
Charges for services 53,447 359,677 413,124
Fines and forfeitures 134,040 134,040
Miscellaneous revenues,
primarily interest 151,690 69,609 $ 204,658 301,946 727,903
dr Total revenues 2,705,667 994,498 140,046 204,658 769,141 4,814,010
Expenditures:
Current:
Community services 1,543,314 49,005 1,592,319
Community development 372,548 445,193 817,741
Policy and administration 66,269 28,904 19,614 114,787
City-wide support func-
tions 90,095 169,186 259,281
Capital projects 25,497 271,737 695,914 162,140 1,155,288
Debt service:
Interest 138,831 97,672 273,863 510,366
Total expenditures 2,097,723 964,025 138,831 813,200 436,003 4,449,782
Excess of revenues
over (under)
expenditures 607,944 30,473 1,215 (608,542) 333,138 364,228
Fund balances (deficit) -
beginning of year 356,584 698,944 2,219,831 (2,374,428) 900,931
Fund balances (deficit) -
end of year $ 964.528 $729.417 $ 1.215 $1.611.289 $(2.041.290) 81.265.159
air
mr
my
The accompanying notes are an integral
part of the combined financial statements.
it 3
8
CITY OF TIGARD, OREGON
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL - ALL GOVERNMENTAL FUND TYPES
for the fiscal year ended June 30, 1985
4
General Fund Special Revenue Funds Debt Service
Variance Variance
Favorable Favorable
(Unfavor- (Unfavor-
Budget Actual able) Budget Actual able) Budget Actual
10
Revenues:
Taxes $ 727,383 $ 757,797 $ 30,414 $138,831 $140,046
Franchise fees 506,300 591,246 84,946
Special assessments
Licenses and permits 290,500 502,030 211,530 $ 4,000 $ 22,029 $ 18,029
Intergovernmental revenues 536,589 515,417 (21,172) 491,500 543,183 51,683
Charges for services 130,253 53,447 (76,806) 176,500 359,677 183,177
Fines and forfeitures 72,250 134,040 61,790 4
Miscellaneous revenues,
primarily interest 167,500 151,690 (15,810) 22,500 69,609 47,109
Total revenues 2,430,775 2,705,667 274,892 694,500 994,498 299,998 138,831 140,046
Expenditures:
Current:
Community services 1,852,324 1,543,314 309,010 62,500 49,005 13,495 10
Community development 413,120 372,548 40,572 467,682 445,193 22,489
Policy and administration 69,172 66,269 2,903 29,500 28,904 596
City-wide support functions 102,519 90,095 12,424 181,946 169,186 12,760
Contingency 140,224 140,224
Capital projects 210,000 25,497 184,503 651,816 271,737 380,079
Debt service:
Principal retirement
Interest 138,831 138,831 8
Total expenditures 2,787,359 2,097,723 689,636 1,393,444 964,025 429,419 138,831 138,831
Excess of revenues over
(under) expenditures (356,584) 607,944 964,528 (698,944) 30,473 729,417 - 1,215
Other financing sources:
Operating transfers in 8
Excess of revenues and
other sources over
(under) expenditures (356,584) 607,944 964,528 (698,944) 30,473 729,417 1,215
Fund balances - budgetary basis,
beginning of year 409,655 409,655 698,944 698,944
Fund balances - budgetary basis,
end of year $ 53.071 1,017,599 $964,528 $ - 729,417 $729.417 $ - 1,215
Adjustments from budgetary basis to
generally accepted accounting
principles:
Cumulative effect of differences 8
between budgetary basis and
generally accepted accounting
principles basis of reporting
fund balance (53,071)
Bond principal payments budgeted
as expenditures
Fund balances (deficit) - generally 40-
accepted
accepted accounting principles
basis, end of year $ 964.528 $729.417 $ 1,215
The accompanying notes are an integral
part of the combined financial statements.
4 40
.r
mo
Fund Capital Projects Funds Special Assessments Fund Total (Memorandum Only)
Variance Variance Variance Variance
Favorable Favorable Favorable Favorable
(Unfavor- (Unfavor- (Unfavor- (Unfavor-
able) Budget Actual able) Budget Actual able) Budget Actual able)
mr
$1,215 $ 866,214 $ 897,843 $ 31,629
506,300 591,246 84,946
$ 403,000 $ 467,195 $ 64,195 403,000 467,195 64,195
294,500 524,059 229,559
1,028,089 1,058,600 30,511
306,753 413,124 106,371
or 72,250 134,040 61,790
$ 100,000 $ 204,658 $ 104,658 301,946 301,946 290,000 727,903 437,903
1,215 100,000 204,658 104,658 403,000 769,141 366,141 3,767,106 4,814,010 1,046,904
rr 35,000 35,000 1,949,824 1,592,319 357,505
10,000 10,000 890,802 817,741 73,061
20,000 19,614 386 118,672 114,787 3,885
284,465 259,281 25,184
140,224 140,224
2,157,159 695,914 1,461,245 1,356,877 162,140 1,194,737 4,375,852 1,155,288 3,220,564
200,000 200,000 200,000 200,000
40 97,672 97,672 251,000 273,863 (22,863) 487,503 510,366 (22,863)
2,319,831 813,200 1,506,631 1,807,877 636,003 1,171,874 8,447,342 4,649,782 3,797,560
1,215 (2,219,831) (608,542) 1,611,289 (1,404,877) 133,138 1,538,015 (4,680,236) 164,228 4,844,464
4r" 48,000 (48,000) 48,000 (48,000)
1,215 (2,219,831) (608,542) 1,611,289 (1,356,877) 133,138 1,490,015 (4,632,236) 164,228 4,796,464
2,219,831 2,219,831 1,356,877 1,356,877 4,685,307 4,685,307
r
$1.215 $ - 1,611,289 $1.611.289 $ - 1,490,015 $1.490.015 $ 53.071 4,849,535 $4.796.464
AV
(3,731,305) (3,784,376)
200,000 200,000
•
$1.611.289 $(2.041.290) $1.265.159
err
w
CITY OF TIGARD, OREGON
COMBINED STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS/FUND BALANCE -
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUND
w for the fiscal year ended June 30, 1985
41,
Proprietary Fiduciary Total
Fund Type Fund Type (Memorandum
Enterprise Pension Trust Only)
OPERATING REVENUES:
Service charges $694,934 $ 694,934
Pension contributions $ 135,095 135,095
Total operating revenues 694,934 135,095 830,029
OPERATING EXPENSES:
Salaries, wages and fringe benefits 379,674 379,674
Contracted services 54,813 54,813
General and administrative and other 142,672 142,672
Depreciation 215,305 215,305
Benefit payments and withdrawals 4,586 4,586
Contract charges 5,268 5,268
Total operating expenses 792,464 9,854 802,318
Operating income (loss) (97,530) 125,241 27,711
,w
NONOPERATING REVENUE - Interest 19,573 164,785 184,358
Net income (loss) (77,957) 290,026 212,069
Add: Depreciation on fixed assets donated
or acquired from capital contri-
butions that reduces contributed
w capital 187,316 187,316
Increase in retained earnings/fund
balance 109,359 290,026 399,385
RETAINED EARNINGS/FUND BALANCE - beginning
of year, as restated (Note 16) 451,392 1,005,888 1,457,280
0 RETAINED EARNINGS - end of year $560.751 $1.295.914 $1.856.665
wr
wr
The accompanying notes are an integral
part of the combined financial statements.
Ar 5
ev
CITY OF TIGARD, OREGON
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION -
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUND
for the fiscal year ended June 30, 1985
Proprietary Fiduciary Total
Fund Type Fund Type (Memorandum
Enterprise Pension Trust Only)
Working capital provided (used):
In operations:
Net income (loss) $(77,957) $290,026 $212,069
Charges to operations not requiring
outlay of working capital in the
current period - depreciation 215,305 215,305
Working capital provided from
operations 137,348 290,026 427,374
Capital contributions, net of donated
fixed assets of $511,507 92,500 92,500
Increase in working capital $229,848 $290.026 $519.874
Changes in components which increased
(decreased) working capital:
,r, Cash and investments $244,361 $290,026 S534,387
Accounts receivable (342,080) (342,080)
Property taxes receivable 1,670 1,670
Interest receivable 375 375
Due from other funds 28,664 28,664
Accounts payable and accrued
liabilities 295,999 295,999
Deferred revenue 11,000 11,000
Customer deposits (11,427) (11,427)
Accrued vacation pay 1,286 1,286
Increase in working capital $229.848 $290.026 $519.874
.d,
sr
The accompanying notes are an integral
part of the combined financial statements.
W' 6
NOTES TO COMBINED FINANCIAL STATEMENTS
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS
1 . Summary of Significant Accounting Policies:
Governmental Entities Included in the Combined Financial
Statements
All significant activities and organizations with which the City
exercises oversight responsibility have been included in the
City' s combined financial statements for the year ended June 30,
1985. The following criteria regarding manifestation of
oversight were considered by the City in its evaluation of City
0 organizations and activities :
Financial interdependency - whether the City receives
financial support or provides financial benefit to the
organization; is responsible for or has directly or
indirectly guaranteed the organization' s debts.
0
Authoritative appointment of governing authority -
whether the City Council appoints the organization' s
governing authority and maintains a significant
continuing relationship with the governing authority
pertaining to the public functions of the organization.
w
There are many governmental agencies including Washington County
and certain school districts and various service districts which
provide services within the City. These agencies have indepen-
dently elected governing boards and the City does not manifest any
oversight responsibility. Therefore, financial information for
• these agencies is not included in the accompanying combined finan-
cial statements .
Bases of Accounting
The Governmental Fund Types are maintained on the modified accrual
^r' basis of accounting. Under the modified accrual basis of account-
ing revenues are recorded in the accounting period in which they
become measurable and available and expenditures are recorded at
the time liabilities are incurred, except for:
• Interfund transactions for services which are recorded
on the accrual basis.
• Interest on general obligation bonds which is recorded
on its due date.
Earned but unpaid vacations which are recorded as
0 expenditures to the extent they are expected to be liq-
uidated with expendable available financial resources.
7
40
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
40
1 . Summary of Significant Accounting Policies, Continued:
Bases of Accounting, Continued
414 Significant revenues which were measurable and available at June 30,
1985 under the modified accrual basis of accounting were as follows:
Federal and state grants (to the extent that revenues
are recorded as eligible expenditures are incurred) .
Federal revenue sharing entitlements.
State, county and local shared revenues for cigarette
tax, liquor tax and other.
Assessment liens receivable installments due within
sixty days following year end.
The Enterprise Funds and Pension Trust Fund are accounted for
utilizing the accrual basis of accounting. Under the accrual
basis of accounting, revenues are recorded at the time they are
earned and expenses are recorded at the time liabilities are
00, incurred.
The bases of accounting described above are in accordance with
generally accepted accounting principles.
Total (Memorandum Only) Columns
The Total (Memorandum Only) columns on the combined financial
statements represent an aggregate of the columnar statements by
fund type and account group; they do not represent consolidated
financial information.
Investments
Investments, included in cash and investments, are carried at cost
which approximates market.
Receivables
Receivables for federal and state grants, federal revenue sharing
entitlements and state, county and local shared revenues, included
in accounts receivable, are recorded as revenue in the governmental
funds as earned.
8
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
1 . Summary of Significant Accounting Policies, Continued:
Receivables, Continued
Receivables of the Enterprise Funds are recorded as revenue as
earned, including services earned but not billed.
Property taxes receivable in the General Fund are offset by a
deferred revenue account in the liability section of the combined
balance sheet and, accordingly, are not recognized as revenues.
Property taxes receivable collected within sixty days following
year end are not considered material for recognition as revenues .
Property taxes become a lien on January 1 for personal property
and on July 1 for real property. All taxes are levied on July 1 .
Collection dates are November 15, February 15, and May 15. Dis-
counts are allowed if the amount due is received by November 15.
Taxes unpaid and outstanding on May 16 are considered delinquent.
Assessments are recognized as receivables at the time property
owners are assessed for property improvements. Assessments
receivable expected to be collected within sixty days after year
�► end are considered measurable and available and are recognized as
revenues . All other assessments receivable are offset by a deferred
revenue account and, accordingly, have not been recorded as
revenue.
Contract receivable due from Unified Sewerage Agency in the General
Fund is offset by a deferred revenue account. Revenue is recognized
when payments on the receivable are made.
Inventory of Gasoline
Inventory of gasoline is stated on the first-in, first-out basis
and is charged to expenditures as used.
Enterprise Fund Fixed Assets
Purchased fixed assets are stated at historical cost or estimated
historical cost when historical cost is not available. The total
�► amount of fixed assets valued at estimated historical cost is not
available. Donated assets are recorded at estimated appraised
value at date of donation. Estimated appraised value of donated
assets is determined based on engineering estimates of current
9
rr
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
1 . Summary of Significant Accounting Policies, Continued:
Enterprise Fund Fixed Assets, Continued
• cost or price indexed cost. The total amount of fixed assets
donated is not available. Depreciation is computed on assets in
service, using the straight-line method over their estimated use-
ful lives :
Building 40 years
Sewer system 40 years
Storm Drainage system 40 years
Equipment 5 to 10 years
Autos and trucks 3 years
0 Depreciation expense on fixed assets donated or acquired from
capital contributions is recognized as a reduction of contributed
capital. Such reduction is recorded by a transfer from retained
earnings.
Normal maintenance and repairs are charged to operations as in-
#., curred. Major additions, improvements and replacements are
capitalized. Gains or losses from sales or retirements of fixed
assets are included in operations .
General Fixed Assets
General fixed assets are stated at historical cost or estimated
historical cost when historical cost is not available. The total
amount of fixed assets valued at estimated historical cost is not
available. Fixed assets are charged to expenditures in the
Governmental Fund Types as purchased and capitalized in the
General Fixed Assets Account Group. Maintenance and repairs of
„ fixed assets are charged to expenditures in the Governmental Fund
Types as incurred and are not capitalized.
Expenditures for street and bridge construction, bike path, side-
walk and lighting systems are not capitalized as fixed assets .
As fixed assets are disposed of, the estimated historical cost or
historical cost is removed from this account group; proceeds from
sales of general fixed assets are recorded as General Fund revenue.
Depreciation is not computed on general fixed assets .
10
0
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
1 . Summary of Significant Accounting Policies, Continued:
Long-Term Debt
Long-term debt directly related and expected to be paid from the
Enterprise Funds or Special Assessments Fund is recorded in these
funds. All other unmatured long-term debt is recorded in the
General Long-Term Debt Account Group. Repayment of general
bonded debt recorded in the General Long-Term Debt Account Group
will be made from the Debt Service Fund. Payment of vacation
liabilities in the General Long-Term Debt Account Group will be
made from the General Fund.
Accrued Vacation Pay
Accumulated vested vacation pay is accrued in the Enterprise Funds
as it is earned by employees. In Governmental Fund Types the
amounts, if any, expected to be liquidated with expendable available
resources are accrued as liabilities of the funds and the amount
payable from future resources is recorded in the General Long-Term
Debt Account Group. Sick pay is recorded in all funds when leave
is taken.
Contributed Capital
Contributed capital in the Enterprise Funds represents the accumu-
lation of contributions in the form of cash or other assets which
generally do not have to be returned to the contributor. Such
contributions are recorded directly to contributed capital and,
accordingly, are not recognized as revenue. The following trans-
actions are recorded in contributed capital in the Enterprise
Funds:
Receipts of federal and state grants for acquisition of
fixed assets.
• Fixed assets contributed from other funds or the General
Fixed Assets Account Group.
Contributions from others for the acquisition or con-
struction of fixed assets.
• Transfers from retained earnings for depreciation on
fixed assets donated or acquired by contributed capital
resources.
11
0
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
1 . Summary of Significant Accounting Policies, Continued:
Budget
a+ A budget is prepared for each fund except for the Pension Trust
Fund in accordance with the modified accrual basis of accounting
for governmental funds with certain modifications as explained in
Note 3, the accrual basis of accounting for enterprise funds, and
in accordance with the legal requirements set forth in the Oregon
Local Budget Law. Appropriations are made at the major program
# level for each fund. Appropriations may not be legally overex-
pended. Appropriations lapse at the end of each fiscal year.
Budget amounts include original approved amounts and all subsequent
appropriations transfers approved by the City Council . After
budget approval, the City Council may approve supplemental appro-
priations if an occurrence, condition, or need exists which had
* not been ascertained at the time the budget was adopted. During
the fiscal year ended June 30, 1985, several appropriations
transfers were made as well as two supplemental budget appropria-
tions .
The budget for the funds includes capital outlay expenditures in
each program for capital outlay applicable to that program.
Capital outlay expenditures benefiting the City and not an
identifiable program are reported separately.
2 . Organization and Operation:
The City of Tigard, under its Charter of 1962, is governed by an
elected mayor and four councilmembers who comprise the City Council.
The City' s financial operations are accounted for in the following
funds and account groups:
Governmental Fund Types
General Fund: This fund accounts for the City' s general
operations. It is used to account for all transactions
not specifically related to the City' s other funds.
# Special Revenue Funds:
Federal Revenue Sharing Fund: This fund accounts for
Federal Revenue Sharing entitlements.
12
40
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
40
2 . Organization and Operation, Continued:
Governmental Fund Types, Continued
Special Revenue Funds, Continued:
State Tax Street Fund: This fund accounts for revenues
received from state gasoline taxes which are to be
expended as specified in the Constitution of the State
of Oregon, Article IX, Section 3 .
40
Streets SDC Fund: This fund accounts for system develop-
ment charges to be used for major repair and improvement
to extracapacity street facilities .
Parks SDC Fund: This fund accounts for system develop-
ment charges for major improvements to recreational
facilities within the City.
County Road Levy Fund: This fund accounts for a spe-
cial, one-time property tax levy from Washington County
for the maintenance and repair of roads.
County Gas Fund: This fund accounts for road tax monies
received from Washington County for the maintenance and
operation of roads.
Debt Service Fund: This fund accounts for payment of general
4" obligation bond principal and interest. The principal source
of revenue is from property taxes .
Capital Projects Fund: This fund accounts for the costs of
constructing a city building, including library, city hall
and police facilities . The estimated cost of the building
($2 , 500, 000 ) is being financed by general obligation bond
proceeds ( $2,200, 000) and interest earnings. The expected
completion date is December 1985.
Special Assessments Fund: This fund accounts for construc-
tion and financing of specific street and sanitary sewer and
' storm drainage projects which benefit property owners . The
fund' s primary financing sources are assessments against
owners of benefited property and contributions from other
funds for their share of costs.
13
40
40,
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
2 . Organization and Operation, Continued:
Enterprise Funds
Sewer Fund: This fund accounts for the City' s sewer utility
operations.
Storm Drainage Fund: This fund accounts for the City' s storm
drainage operations.
Fiduciary Fund Type
Pension Trust Fund: This fund accounts for the police em-
ployees pension plans (Note 11 ) .
Account Groups
General Fixed Assets: This account group accounts for the
City' s investment in fixed assets, with the exception of
those assets held by the Enterprise Funds.
General Long-Term Debt: This account group accounts for
long-term indebtedness not recorded in the Enterprise Funds
and Special Assessments Fund.
3 . Reconciliation of Generally Accepted Accounting Principles
Basis to Budgetary Basis :
The budget for the Special Assessments Fund of the City is prepared
differently from generally accepted accounting principles. There-
" fore, the Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual - All Governmental Fund Types
is presented on the budgetary basis and is adjusted to the
Combined Statement of Revenues, Expenditures and Changes in Fund
Balances - All Governmental Fund Types presented on the generally
accepted accounting principles basis. The following is a recon-
ciliation of the differences between the budgetary basis and
generally accepted accounting principles basis for the excess of
revenues and other sources over expenditures for the aforementioned
combined financial statements:
Excess of revenues over expenditures -
�. generally accepted accounting
principles basis $333 , 138
Expenditures:
Bond principal payments budgeted as
expenditures (200, 000 )
Excess of revenues and other sources over
expenditures - budgetary basis $133 . 138
14
r
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
4. Cash and Investments:
The amounts at June 30, 1985 comprised:
Cash on hand $ 650
Cash held by Department of Finance,
Washington County 13,854
Cash in bank demand deposit accounts 288, 780
Cash with fiduciaries (insurance companies
for retirement plans) 1, 627, 658
Bank time certificates of deposit, at cost 3, 930, 290
Cash on deposit with Oregon State
Treasurer's Short-term Investment Pool 597, 077
Total $6,458, 309
The interest rate on bank time certificates of deposits is 9%
with maturities to July 3, 1985.
5 . Contract Receivable:
This represents the balance due to the City from the Unified
Sewerage Agency of Washington County resulting from the sale of
certain sewage treatment and collection facilities to the
Agency in 1970. This contract is recorded in the General Fund
because at the time of sale of the facilities, the City' s sewer
operations were accounted for in the General Fund. Amounts due at
June 30, 1985 comprise:
Total receivable $101, 819
Less unearned interest 15, 166
$ 86 . 653
The contract requires annual payments of $14,442 plus 5% interest
on the unpaid balance to July 1, 1991 .
6. Assessment Liens Receivable:
w
Assessment liens receivable represent the uncollected amounts
levied against benefited property for the cost of local improve-
ments. Because the assessments are liens against the benefited
property, an allowance for uncollectible amounts is not deemed
necessary. Substantially all assessments are payable over a
�► period of ten to twenty years . Assessments bear 7% to 10.8%
interest.
15
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
7. Interfund Receivables and Payables:
Interfund receivables and payables at June 30, 1985 are:
Special Debt Capital Enter-
General Revenue Service Projects prise
Fund Funds Fund Fund Funds Total
Due from other funds:
General $52,011 $ 52,011
Federal Revenue
Sharing $ 17,488 17,488
Streets SDC 98,000 98,000
County Road Levy 46,263 46,263
Debt Service 1,194 1 ,194
Capital Projects 97,672 97,672
$260.617 $52.011 $312.628
Due to other funds:
General $161,751 $1,194 $97,672 $260,617
Sewer $ 52,011 52,011
$ 52,011 $161 .751, $1 .194 $97.672 $312.628
40
40
w•
16
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
8. Fixed Assets:
Fixed assets and related changes therein are as follows :
ENTERPRISE FUNDS
Balance Balance
June 30, June 30,
1984 Additions 1985
Land $ 2,484 $ 2,484
Building 53,540 53,540
Sewer system 4,020,922 $323,294 4,344,216
Storm drainage system 4,748,496 188,215 4,936,711
Equipment 122,088 122,088
Autos and trucks 28,710 28,710
8,976,240 511,509 9,487,749
Less accumulated
depreciation 2,639,458 215,305 2,854,763
$6.336.782 $296,204 $6,632.986
GENERAL FIXED ASSETS ACCOUNT GROUP
Balance Balance
June 30, Dele- June 30,
1984 Additions tions 1985
Land $ 371,430 $542,051 $ 913,481
Buildings 708,536 157,201 865,737
Equipment 323,934 61,907 $14,611 371,230
Autos and trucks 162,031 7,423 4,064 165,390
Office equipment 190,289 5,561 195,850
Library books 206,183 45,855 252,038
$1.962.403 $819.998 $18.675 $2,763.726
17
wr
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
9. Long-Term Debt:
Bonds payable transactions for the year and future maturities of bond principal and interest
at June 30, 1985 are as follows:
Principal
Outstanding Issued Matured Outstanding
40June 30, During the During June 30,
1984 Year Year 1985 Interest
General Obligation Bonds:
General obligation city build-
ing bonds with interest
rates from 9.7% to 18%
(original amount $2,200,000):
Fiscal year:
top
1986 $ 40,000 $ 40,000 $ 236,503
1987 45,000 45,000 229,302
1988 50,000 50,000 221,203
1989 55,000 55,000 215,202
1990 60,000 60,000 208,603
1991-1995 410,000 410,000 937,183
1996-2000 685,000 685,000 680,500
2001-2004 855,000 855,000 237,440
$2.200.000 $2,200,000 $2.965,936
Bancroft Improvement Bonds:
Eight general obligation
improvement bond issues
with interest rates from
6% to 16.75% (original
amounts $3,463,149):
Fiscal year:
1985 $ 200,000 $200,000
1986 218,000 $ 32,000 $ 250,000 $ 270,651
1987 243,000 35,000 278,000 242,951
1988 273,000 35,000 308,000 215,932
1989 288,000 40,000 328,000 187,955
1990 318,000 45,000 363,000 156,929
1991-1995 1,095,000 305,000 1,400,000 282,303
1996-2000 50,000 50,000 31,175
2001-2003 30,000 30,000 5,170
$2,715.00Q $492.000 $200,000 $3.007.000 $1,393,066
During fiscal 1985, accrued vacation pay recorded in the General Long-Term Debt Account
Group decreased from $109,087 at June 30, 1984 to $107,544 at June 30, 1985, a decrease of
$1,543. The accrual represents a normal accumulation of vested benefits at year end.
10. Contributed Capital:
The changes in contributed capital were as follows:
Balance, beginning of year, as restated (Note 16) $6,052,901
Contributions of sewer system fixed assets from others 323,294
Contributions of storm drainage fixed assets from others 188,213
Transfer of depreciation on certain contributed fixed assets from
retained earnings (187,316)
Contributions from customers of Storm Drainage Fund 92,500
Balance, end of year $6,469,592
18
r
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
11. Retirement Plans:
The City contributes 8 percent of basic monthly earnings to an
Individual Retirement Account or a deferred compensation plan
for participating employees. Eligible participants include all
employees except police employees. Contributions for both plans
are made to fiduciaries. The fiduciaries hold the funds in trust
and make distributions to retired employees . The amount deferred
under the deferred compensation plan since the inception of the
plan and investment earnings thereon total $331, 744 at June 30,
1985 and is included in cash and investments and offset by a
corresponding liability in the General Fund. Such amount
reflects a general liability of the City to its employees whose
rights are equal to but not greater than the rights of other
general creditors with respect to such amount. Expenditures by
the City for the Individual Retirement Accounts were $45,343 and
$32,236 for the deferred compensation plan for the year ended
June 30, 1985 .
Full-time police employees who have completed six months of
service are participants in a city sponsored pension program
consisting of a defined benefit plan and a defined contribution
plan. Required employer contributions are accounted for in a
defined benefit plan and required employee contributions, which
are also paid by the City, are accounted for in a defined contri-
bution plan.
The cost of the defined contribution plan is accrued and funded
currently. The cost of the defined benefit plan, including
amortization of the unfunded prior service cost over forty years
and normal cost, is also accrued and funded currently. Due to
the unitary nature of the police pension program, these two plans
have been accounted for in one pension trust fund. Pension
contributions made to this fund by the City for the year ended
June 30, 1985 were $135, 095. There are no unfunded accrued
liabilities for these plans.
A comparison of accumulated plan benefits and plan net assets for
the police employees' defined benefit plan as of July 1, 1984, the
latest actuarial valuation study, is presented below:
Actuarial present value of accumulated plan benefits:
Vested $381, 880
Nonvested 47, 604
$429 .484
Net assets available for benefits $673 . 503
19
0
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
V
11 . Retirement Plans, Continued:
Actuarial assumptions related to interest and salary scale were
updated in the July 1, 1984 actuarial valuation. The assumed
rate of return used in determining the actuarial present value of
accumulated plan benefits increased from 6 .5% to 7 . 5%. The
assumed yearly salary scale increase changed from 4 .5% to 6%.
These changes caused the present value of vested and nonvested
benefits to decrease $84,435 and $5, 983, respectively, and
decreased contributions by approximately $1, 600.
12 . Transactions with Unified Sewerage Agency of Washington County:
The City of Tigard collects charges for treatment of City sewage
on behalf of the Unified Sewerage Agency of Washington County (USA)
«• and remits all collections to USA except for 30% of sewer service
charges collected and 20% of connection charges collected, in
accordance with an agreement between the City and USA dated Janu-
ary 18, 1972 . Payments of $1, 345, 783 were made to USA during
1985 under this agreement.
The net amount retained by the City is reported as revenues in the
enterprise funds in the Combined Statement of Revenues, Expenses
and Changes in Retained Earnings/Fund Balance - All Proprietary
Fund Types and Similar Trust Fund. Revenues are reported net
because the City acts in a fiduciary capacity on behalf of USA.
13 . Commitments and Contingencies:
The City has a contingent liability against its full faith and
credit for Bancroft improvement bonds recorded in the Special
Assessments Fund in the amount of $3 , 007, 000. The City' s general
credit is obligated on these bonds only to the extent that liens
foreclosed against properties involved in the assessment districts
and collections of related assessments and interest are insuffi-
cient to retire outstanding bonds and pay bond interest.
The City is a defendant in several legal actions currently pending.
Although their outcome cannot be determined, it is the opinion of
management that settlement of these matters will not have a
material effect on the combined financial position and results
of operations of the City.
At June 30, 1985 the City had contractual commitments of approxi-
. mately $1,800, 000 primarily for the construction of a City
building.
20
40
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
14. Segment Information for Enterprise Funds :
The City' s two enterprise funds account for the acquisition,
operation, and maintenance of sewer and storm drainage systems
0 which are supported by user charges. Segment information for the
year ended June 30, 1985 is as follows:
Sewer Storm Drainage
Operations Operations Total
Operating revenues $ 531, 973 $ 162 , 961 $ 694, 934
40 Depreciation 109, 014 106,291 215, 305
Operating income (loss) 30, 583 (128, 113 ) (97, 530)
Net income (loss) 47,438 (125,395) (77, 957)
Current capital contri-
butions 323,294 280,713 604, 007
Fixed assets:
40 Additions 323 ,294 188 ,215 511, 509
Net working capital 263, 718 133 , 639 397, 357
Total assets 3,808, 168 3 ,350, 754 7, 158, 922
Total equity 3 , 679, 589 3,350, 754 7, 030, 343
15 . Deficit Fund Balance:
The deficit of $2, 041,290 in the Special Assessments Fund at
June 30, 1985 arises because of the application of generally
accepted accounting principles to the financial reporting for the
fund. Bond proceeds used to finance construction of special
0 assessment projects are not recognized as an "other financing
source" because the liabilities for special assessment bonds
payable are accounted for in the Special Assessments Fund. Special
assessments are recognized as revenue only to the extent that
individual installments are collected within sixty days following
year end.
16. Accounting Change and Restatement:
Storm Drainage Fund Depreciation:
• In fiscal 1985 the City adopted the method of charging deprecia-
tion expense related to Storm Drainage Fund fixed assets con-
tributed by others to contributed capital . Depreciation expense
related to these assets was previously charged to retained earn-
ings. The change was made to more properly offset the usage of
the fixed assets against the resources used to acquire the assets.
Accordingly, at June 30, 1984 contributed capital has been de-
creased by $1, 613 , 092 and retained earnings have been increased
by a corresponding amount.
21
0
0
CITY OF TIGARD, OREGON
NOTES TO COMBINED FINANCIAL STATEMENTS, Continued
0
16. Accounting Change and Restatement, Continued:
Pension Trust Fund
0 Retained earnings as of June 30, 1984 in the Pension Trust Fund
has been increased by $264,265 as a result of the inclusion of
financial information which was not correct in prior years. The
effect of this change was to increase fiscal 1984 revenues by
$94, 043 and expenses by $18,821 .
.r
r
,,
22
SUPPLEMENTARY DATA
(Combining and Individual Fund and Account Group Statements
and Other Financial Schedules )
40
GENERAL FUND
This fund accounts for the financial operations of the
City which are not accounted for in any other fund. Principal
resources are property taxes, franchise fees, intergovernmental
revenues, licenses and permits, and operating transfers from other
funds. Primary expenditures in the General Fund are made for
police protection and community development.
40
yr
40
CITY OF TIGARD, OREGON
GENERAL FUND
STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 1985
ar
ar
Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
Property taxes:
Current year $ 663,909 $ 671,594 $ 7,685
Prior years 61,474 85,794 24,320
Other 2,000 409 (1,591)
Franchise fees 506,300 591,246 84,946
Licenses and permits 290,500 502,030 211,530
Intergovernmental revenues 536,589 515,417 (21,172)
Charges for current services 130,253 53,447 (76,806)
Fines and forfeitures 72,250 134,040 61,790
Use of money and property 20,000 103,773 83,773
Nonrevenue receipts 2,500 27,189 24,689
Recovered expenditures and other 145,000 20,728 (124,272)
Total revenues 2,430,775 2,705,667 274,892
BEGINNING FUND BALANCE AVAILABLE FOR
APPROPRIATION 409,655 409,655
Total $2.840.430 $3.115,322 $274,892
EXPENDITURES:
Community services $1,852,324 $1,543,314 $309,010
Community development 413,120 372,548 40,572
Policy and administration 69,172 66,269 2,903
City-wide support function 102,519 90,095 12,424
Contingency 140,224 140,224
Capital projects 210,000 25,497 184,503
2,787,359 $2.097.723 $689.636
UNAPPROPRIATED ENDING FUND BALANCE 53,071
$2.840,430
23
40
oar
SPECIAL REVENUE FUNDS
The Special Revenue Funds account for revenue derived
from specific tax or other earmarked revenue sources, including
federal and state grant awards, which are legally restricted to
* finance particular functions or activities . Funds included in
this fund category are:
Federal Revenue Sharing
4' State Tax Street
Streets SDC
Parks SDC
County Road Levy
0 County Gas Tax
r
4,4
44
40
a�w
CITY OF TIGARD, OREGON
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
June 30, 1985
qr
•
Federal State County
Revenue Tax Streets Parks Road County
Sharing Street SDC SDC Levy Gas Tax Total
ASSETS
Cash and investments $165,801 $379,711 $145,394 $160,365 $10,067 $861,338
Accounts receivable $25,610 25,610
Interest receivable 2,507 880 257 246 330 4,220
Due from other funds
Total assets $25.610 $168.308 $380.591 $145.651 $160.611 $10.397 $891.168
LIABILITIES AND
FUND BALANCES
Liabilities - due to other
funds $17,488 $ 98,000 $ 46,263 $161,751
to, Fund balances - unreserved 8,122 $168,308 282,591 $145,651 114,348 $10,397 729,417
Total liabilities
and fund balances $25,610 $168.308 $380.591 $145.651 $160,611 $10.397 $891.168
Apr
V
24
CITY OF TIGARD, OREGON
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
air (GENERALLY ACCEPTED ACCOUNTING PRINCIPLES BASIS)
for the fiscal year ended June 30, 1985
yr
Federal State County
Revenue Tax Streets Parks Road County
Sharing Street SDC SDC Levy Gas Tax Total
REVENUES:
Licenses and permits $ 22,029 $ 22,029
Intergovernmental
revenues $109,731 326,009 $ 26,080 $ 81,363 543,183
Charges for services $285,897 $ 73,780 359,677
Miscellaneous revenues 20,421 13,506 14,061 16,617 5,004 69,609
Total revenues 109,731 368,459 299,403 87,841 42,697 86,367 994,498
EXPENDITURES:
Community services 49,005 49,005
Community development 181,184 53,298 29,598 72,395 108,718 445,193
Policy and administra-
tion 24,985 3,919 28,904
City-wide support
ler functions 124,555 37,195 7,436 169,186
Capital projects 21,761 162,377 7,186 80,413 271,737
Total expendi-
tures 124,555 314,130 215,675 36,784 152,808 120,073 964,025
Excess of revenues
over (under)
expenditures (14,824) 54,329 83,728 51,057 (110,111) (33,706) 30,473
FUND BALANCES - beginning
of year 22,946 113,979 198,863 94,594 224,459 44,103 698,944
FUND BALANCES - end of
year $ 8.122 $168.308 $282.591 $145.651 $214.348 $ 10.397 $729.417
25
CITY OF TIGARD, OREGON
FEDERAL REVENUE SHARING FUND
STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 1985
wr
Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
Federal revenue sharing entitlements $110,500 $109,731 $ (769)
Interest 500 (500)
Total revenues 111,000 109,731 (1,269)
BEGINNING FUND BALANCE AVAILABLE FOR
APPROPRIATION 22,946 22,946
Total $233.946 $132.677 $( ,.269)
Variance
wr Revised Favorable
Appropriations Actual (Unfavorable)
EXPENDITURES:
City wide support functions $133.946 $224.555 $9.391
.r
rr
26
yr
CITY OF TIGARD, OREGON
STATE TAX STREET FUND
STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 1985
Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
State gas tax $301,000 $326,009 $ 25,009
Interest 5,000 20,421 15,421
Lighting Subdivisions 4,000 22,029 18,029
Total revenues 310,000 368,459 58,459
BEGINNING FUND BALANCE AVAILABLE
FOR APPROPRIATION 113,979 113,979
wit Total $423.979 $482.438 $ 58.459
Variance
Revised Favorable
Appropriations Actual (Unfavorable)
EXPENDITURES:
Community services $ 62,500 $ 49,005 $ 13,495
Community development 193,397 181,184 12,213
Policy and administration 25,500 24,985 515
City wide support functions 40,000 37,195 2,805
Capital projects 102,582 21,761 80,821
Total $423.979 $314.130 $109,849
ar
rrr
w
27
CITY OF TIGARD, OREGON
STREETS SDC FUND
STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 1985
•
Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
System development charges $156,500 $285,897 $129,397
rr Interest 5,000 13,057 8,057
Miscellaneous 449 449
Total revenues 161,500 299,403 137,903
BEGINNING FUND BALANCE AVAILABLE
FOR APPROPRIATION 198,863 198,863
arr Total $360.363 $498.266 $137.903
Variance
V' Revised Favorable
Appropriations Actual (Unfavorable)
EXPENDITURES:
Community development $ 56,732 $ 53,298 $ 3,434
Capital projects 303,631 162,377 141,254
Total $360.363 $215.675 $144.688
rw
28
•
CITY OF TIGARD, OREGON
PARKS SDC FUND
STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 1985
or
Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
s
System development charges $ 20,000 $ 73,780 $53,780
Interest 2,000 14,061 12,061
Total revenues 22,000 87,841 65,841
BEGINNING FUND BALANCE AVAILABLE
FOR APPROPRIATION 94,594 94,594
Total $ ,16.594 $182.435 $65.841
Variance
Revised Favorable
Appropriations Actual (Unfavorable)
EXPENDITURES:
Community development $ 32,000 $ 29,598 $ 2,402
Capital projects 84,594 7,186 77,408
Total $ ,16,594 $ 36.784 $79.810
w•
r�r
29
40
CITY OF TIGARD, OREGON
COUNTY ROAD LEVY FUND
STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 1985
Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
County maintenance and repair tax $ 5,000 $ 26,080 $21,080
ar
Interest 5,000 16,617 11,617
Total revenues 10,000 42,697 32,697
BEGINNING FUND BALANCE AVAILABLE
FOR APPROPRIATION 224,459 224,459
Total $234.459 $267.156 $32.697
Variance
Revised Favorable
Appropriations Actual (Unfavorable)
EXPENDITURES:
Community development $ 73,450 $ 72,395 $ 1,055
er
Capital projects 161,009 80,413 80,596
Total $234.459 $252.808 $81.651
air
dr
30
r
CITY OF TIGARD, OREGON
COUNTY GAS TAX FUND
STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 1985
ar
Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
County road tax $ 75,000 $ 81,363 $6,363
Interest 5,000 5,004 4
Total revenues 80,000 86,367 6,367
BEGINNING FUND BALANCE AVAILABLE
FOR APPROPRIATION 44,103 44,103
Total $124.103 $130.470 $6.367
Variance
Revised Favorable
Appropriations Actual (Unfavorable)
EXPENDITURES:
Community development $112,103 $108,718 $3,385
Policy and administration 4,000 3,919 81
City wide support functions 8,000 7,436 564
Total $224,103 $120,073 $4.030
err
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31
r
AYE
SPECIAL ASSESSMENTS FUND
The Special Assessments Fund accounts for the construc-
tion and financing of specific street and sanitary sewer projects
which benefit property owners. The fund' s primary financing
sources are assessments against owners of benefited property.
Assessments, which become a lien against the benefited property,
are levied based upon the estimated cost of the projects. The
benefited property owner may elect to pay the assessment over a
# period of ten years (or twenty years for parking facilities and
for assessments levied after September 1971) in semi-annual
installments. Upon completion of the project, general obligation
ten-year and twenty-year serial coupon bonds are sold in an amount
equal to the unpaid assessments .
W
IV
aw
CITY OF TIGARD, OREGON
SPECIAL ASSESSMENTS FUND
STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 1985
9A
Variance
Revised Favorable
w Budget Actual (Unfavorable)
REVENUES:
Collection of bonded assessments $ 403,000 $ 467,195 $ 64,195
Interest on assessments 233,495 233,495
Interest on investments 68,451 68,451
Total revenues 403,000 769,141 366,141
OTHER FINANCING SOURCES:
Operating transfers in 48,000 (48,000)
Total revenues and other sources 451,000 769,141 318,141
BEGINNING FUND BALANCE AVAILABLE
r,. FOR APPROPRIATION 1,356,877 1,356,877
Total $1.807.877 $2.126.018 $ 318.141
EXPENDITURES:
Capital projects $1,356,877 $ 162,140 $1,194,737
Bond principal:
Bancroft #10 2,000 2,000
w 11 3,000 3,000
12 15,000 15,000
13 25,000 25,000
14 5,000 5,000
15 60,000 60,000
16 90,000 90,000
Total bond principal 200,000 200,000
rw
Bond interest:
Bancroft #10 120 120
11 2,141 2,141
12 5,696 5,696
13 37,958 37,958
14 19,471 19,471
15 73,005 73,005
w 16 112,609 112,609
17 22,863 (22,863)
Total bond interest 251,000 273,863 (22,863)
Total expenditures $1.807.877 $ 636.003 $1.171.874
r
rw
32
ENTERPRISE FUNDS
0
These funds are used to finance and account for the
acquisition, operation and maintenance of sewer and storm drainage
facilities which are supported by user charges . Funds included in
0 this fund category are:
Sewer Fund
Storm Drainage Fund
r
0
or
CITY OF TIGARD, OREGON
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
June 30, 1985
®r.
to
Storm
Sewer Drainage
Fund Fund Total
ASSETS:
Current assets:
Cash and investments $ 296,181 $ 109,070 $ 405,251
"r Accounts receivable 35,416 23,590 59,006
Property taxes receivable 7,776 961 8,737
Interest receivable 913 18 931
Due from other funds 52,011 52,011
Total current assets 392,297 133,639 525,936
Fixed assets, net 3,415,871 3,217,115 6,632,986
$3.808.168 $3,350.754 $7,158,922
LIABILITIES AND FUND EQUITY:
Current liabilities:
Accounts payable and accrued liabilities $ 114,589 $ 114,589
Customer deposits 11,427 11,427
Accrued vacation pay 2,563 2,563
Total current liabilities 128,579 128,579
Fund equity:
Contributed capital 3,159,977 $3,309,615 6,469,592
Retained earnings 519,612 41,139 560,751
wr Total fund equity 3,679,589 3,350,754 7,030,343
$3.808.168 $3.350.754 $7,158.922
ow
.r
tor
33
CITY OF TIGARD, OREGON
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS
,,, for the fiscal year ended June 30, 1985
Storm
Sewer Drainage
Fund Fund Total
OPERATING REVENUES:
Service charges $531,973 $162,961 $694,934
ww
OPERATING EXPENSES:
Salaries, wages and employee benefits 260,669 119,005 379,674
Contracted services 42,207 12,606 54,813
General and administrative and other 89,500 53,172 142,672
Depreciation 109,014 106,291 215,305
+► Total operating expenses 501,390 291,074 792,464
Operating income (loss) 30,583 (128,113) (97,530)
NONOPERATING REVENUE - Interest 16,855 2,718 19,573
Net income (loss) 47,438 (125,395) (77,957)
Add: Depreciation on fixed assets donated or
acquired from capital contributions that
reduces contributed capital 81,025 106,291 187,316
Increase (decrease) in retained
earnings 128,463 (19,104) 109,359
RETAINED EARNINGS - beginning of year,
as restated 391,149 60,243 451,392
RETAINED EARNINGS - end of year $519.612 $ 41,139 $560.751
ar
wr
34
wr
CITY OF TIGARD, OREGON
ENTERPRISE FUNDS
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
for the fiscal year ended June 30, 1985
,rr
Storm
Sewer Drainage
Fund Fund Total
Working capital provided (used):
In operations:
Net income (loss) $ 47,438 $(125,395) $(77,957)
Charges to operations not requiring outlay
of working capital in the current period -
depreciation 109,014 106,291 215,305
working capital provided from (used in)
operations 156,452 (19,104) 137,348
„r, Capital contributions, net of donated
fixed assets of $323,294 and $188,213,
respectively 92,500 92,500
Increase in working capital $256.452 $ 73,396 $229,848
Changes in components which increased (decreased)
working capital:
ar Cash and investments $135,291 $109,070 $244,361
Accounts receivable (318,592) (23,488) (342,080)
Property taxes receivable 1,433 237 1,670
Interest receivable 451 (76) 375
Due from other funds 52,011 (23,347) 28,664
Accounts payable and accrued liabilities 295,999 295,999
Deferred revenue 11,000 11,000
Customer deposits (11,427) (11,427)
=e+ Accrued vacation pay 1,286 1,286
Increase in working capital $256.452 $ 73.396 $229,848
err
u�+
35
411r
CITY OF TIGARD, OREGON
SEWER FUND
STATEMENT OF REVENUES AND EXPENSES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 1985
4.0
Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
Sewer service charges $456,000 $531,973 $ 75,973
wr
Interest 25,000 16,855 (8,145)
Total revenues 481,000 548,828 67,828
BEGINNING FUND BALANCE AVAILABLE FOR
APPROPRIATION 107,270 107,270
'r' Total $588,270 $656.098 $ 67,828
Variance
Revised Favorable
Appropriations Actual (Unfavorable)
EXPENDITURES:
Community services $122,000 $ 95,800 $ 26,200
Community development 303,840 172,491 131,349
Policy and administration 37,828 37,064 764
City wide support function 93,535 87,021 6,514
Capital projects 31,067 31,067
Total $588.270 $392.376 $195.894
Total expenditures, as reported above $392,376
Add depreciation 109,014
Total expenses as reported in the Combining
Statement of Revenues, Expenses and
Changes in Retained Earnings (page 34) $501.390
Oar
err
36
or
CITY OF TIGARD, OREGON
STORM DRAINAGE FUND
STATEMENT OF REVENUES AND EXPENSES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 1985
Variance
Original Favorable
Budget Actual (Unfavorable)
REVENUES:
wit
Service charges $225,500 $162,961 $(62,539)
Interest 2,000 2,718 718
Other 5,000
(5,000)
Total revenues 232,500 165,679 (66,821)
BEGINNING FUND BALANCE AVAILABLE FOR
APPROPRIATION 60,243 60,243
Total $292.743 $225.922 $(66.821)
Variance
Revised Favorable
Appropriations Actual (Unfavorable)
EXPENDITURES:
Community services $ 47,000 $ 37,721 $ 9,279
Community development 129,431 111,038 18,393
.to Policy and administration 12,000 11,758 242
City wide support function 24,000 21,468 2,532
Capital projects 80,312 2,798 77,514
Total $292.743 $184.783 $107.960
Total Expenditures, as reported above $184,783
Add depreciation 106,291
.�r
Total expenses as reported in the
Combining Statement of Revenues,
Expenses and Changes in Retained
Earnings (page 34) $291.074
ar
ar
41P37
aP
GENERAL FIXED ASSETS ACCOUNT GROUP
This account group accounts for the fixed assets of the
City other than those recorded in the Enterprise Funds.
CITY OF TIGARD, OREGON
STATEMENT OF GENERAL FIXED ASSETS - BY SOURCES
June 30, 1985
®r
•rr
GENERAL FIXED ASSETS
Land
Buildings $ 913,481
Equipment 865,737
371,230
Autos and trucks 165,390
Office equipment 195,850
14, Library books 252,038
Total general fixed assets $2.763.726
INVESTMENT IN GENERAL FIXED ASSETS
Balance, beginning of year $1,962,403
qmo
Additions were provided by:
General Fund 120,746
Capital Projects Fund 699,252
819,998
yr 2,782,401
Retirements (18,675)
Total investment in general fixed assets $2.763.726
wr
r
38
CITY OF TIGARD, OREGON
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY SOURCES
for the fiscal year ended June 30, 1985
ar
Autos and Office Library
Land Buildings Equipment Trucks Equipment Books Total
Balance, beginning
of year $371,430 $708,536 $323,934 $162,031 $190,289 $206,183 $1,962,403
Add:
Additions from:
* General Fund 61,907 7,423 5,561 45,855 120,746
Capital
Projects
Fund 542,051 157,201 699,252
542,051 157,201 61,907 7,423 5,561 45,855 819,998
Deduct:
• Retirements (14,611) (4,064) (18,675)
Balance, end of
year $913,481 $865.737 $371,230 $165.390 $195.850 $252,038 $2,763,726
sr
is.
V
39
r
V
CITY OF TIGARD, OREGON
STATEMENT OF GENERAL FIXED ASSETS -
BY FUNCTION AND ACTIVITY
June 30, 1985
4110Machinery,
Equipment
Function and Activity Total Land Buildings and Other
General Government:
Control:
Legislative $ 3,626 $ 3,626
'` Executive 16,666 16,666
Judicial 5,750 5,750
Total control 26,042 26,042
Staff Agencies:
Finance 66,803 66,803
411
Recording and reporting 37,381 37,381
Administrative officers and boards 13,879 13,879
Planning and zoning 12,490 12,490
Research and investigation 61,111 61,111
General government buildings 1,241,565 $597,130 $644,435
Total staff agencies 1,433,229 597,130 644,435 191,664
Total general government 1,459,271 597,130 644,435 217,706
Public safety:
Police protection 285,464 1,171 75,224 209,069
Protective inspection 22,097 22,097
Total public safety 307,561 1,171 75,224 231,166
aw
Highways 252,721 2,300 39,286 211,135
Libraries 283,343 283,343
Recreation 460,830 312,880 106,792 41,158
Total general fixed assets $2.763.726 $913.481 $865,737 $984.508
wr
er
40
CITY OF TIGARD, OREGON
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS -
BY FUNCTION AND ACTIVITY
June 30, 1985
u..
av
General General
Fixed Assets Fixed Assets
Function and Activity June 30, 1984 Additions Deletions June 30, 1985
General Government:
Control:
Legislative $ 3,626 $ 3,626
Executive 16,666 16,666
Judicial 5,750 5,750
Total control 26,042 26,042
Staff agencies:
Finance 66,803 66,803
Recording and reporting 37,381 37,381
Administrative officers and boards 13,879 13,879
Planning and zoning 6,929 $ 5,561 12,490
Research and investigation 47,831 17,344 $ 4,064 61,111
General government buildings 542,313 699,252 1,241,565
Total staff agencies 715,136 722,157 4,064 1,433,229
Total general government 741,178 722,157 4,064 1,459,271
Public safety:
Police protection 261,978 23,486 285,464
Protective inspection 22,097 22,097
Total public safety 284,075 23,486 307,561
�,. Highways 252,721 252,721
Libraries 252,099 45,855 14,611 283,343
Recreation 432,330 28,500 460,830
Total general fixed assets 51,962,403 $819.998 $18.675 $2.763.726
r
41
w
OTHER SCHEDULES
Schedules included in this section are:
Property tax transactions and outstanding balances
Bond and bond interest transactions - Bancroft improve-
ment bonds
Future debt service requirements of Bancroft improvement
bonds
CITY OF TIGARD, OREGON
SCHEDULE OF PROPERTY TAX TRANSACTIONS
AND OUTSTANDING BALANCES
for the fiscal year ended June 30, 1985
er
Property* Add Add Property
Taxes Levy as (Deduct) Taxes
Receivable Extended Corrections Deduct Deduct Receivable
June 30, By and Cash Add Discounts June 30,
1984 Assessor Adjustments Collections Interest Allowed 1985
1984-85 $962,280 $32 $864,334 $ 794 $16,727 $ 82,045
1983-84 $ 92,804 (34) 49,303 4,246 47,713
ar.
1982-83 42,293 (27) 22,613 4,115 23,768
1981-82 20,843 (2) 14,206 3,678 10,313
1980-81 3,403 6 4,487 1,420 342
1979-80
�++ and prior 410 2 78 43 377
$159.753 $962.280 $(2,2) $955.021 $14.296 $16.727 $164.558
Distributed as follows:
General Fund:
Current $671,594 $ 63,684
Prior years' levies 86,203 78,815
Total General Fund 757,797 142,499
Debt Service Fund 140,046 13,322
Sewer Fund (sewer charges collected
on tax roll and included in sewer
service charges) 51,603 7,776
80 Storm Drainage Fund (storm drainage
charges collected on tax roll and
included in storm drainage service
charges) 5,575 961
Total $955.021 $164.558
*Included in this amount is $1,708 of property tax receivable attributable to the Tigard Urban
Renewal Agency Fund which has been closed.
42
4 4 4 4 4 4 4 4 4
CITY OF TIGARD, OREGON
SCHEDULE OF BOND AND BOND INTEREST TRANSACTIONS
for the fiscal year ended June 30, 1985
Bond Transactions Interest Transactions
Out- Out- Out- Out-
standing standing standing standing
Original June 30, June 30, June 30, June 30,
Bancroft Bonds Issue 1984 Issued Matured Paid 1985 1984 Matured Paid 1985
Issued May 1, 1975 $ 15,968 $ 2,000 $ 2,000 $ 2,000 $ 120 $ 120
Issued August 1, 1975 57,840 33,000 3,000 3,000 $ 30,000 2,141 2,141
Issued November 1,
1979 128,082 90,000 15,000 15,000 75,000 $ 673 5,696 5,696 $ 673
Issued November 1,
1981 374,795 330,000 25,000 25,000 305,000 1,625 37,957 37,957 1,625
Issued September 1,
1982 184,664 180,000 5,000 5,000 175,000 19,473 19,473
Issued October 1,
1982 838,600 790,000 60,000 60,000 730,000 73,005 73,005
Issued October 1,
1982 1,371,200 1,290,000 90,000 90,000 1,200,000 667 112,705 112,705 667
Issued September 1,
1984 492,000 $492,000 492,000 22,766 22,766
$2.715.000 $492.000 $200.000 $200.000 $3.007.000 $2.965 $273.863 $273.863 $2.965
General Obligation
Bonds
Issued June 1, 1984 2,200,000 $2.200.000 $ - $ - $ - $2.200.000 $ - $236.503 $236.503 $ -
e ! 4 4 4 4 4 4
CITY OF TIGARD, OREGON
SCHEDULE OF FUTURE DEBT SERVICE REQUIREMENTS
OF BANCROFT IMPROVEMENT BONDS
as of June 30, 1985
Year Issued Issued Issued Issued Issued Issued Issued
of August 1, 1975, November 1, 1979, November 1, 1981, September 1, 1982, October 1, 1982, October 1, 1982, September 1, 1984,
Matur- Total Requirements 6% to 7% 6% to 7-9/10% 11-1/4% to 13% 10-1/4% to 11-3/4% 8-1/2% to 13-1/4% 8-2/10% to 16-3/4% 7.6% to 16%
ity Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest
1985-
86 $ 250,000 $ 270,651 $ 3,000 $ 1,954 $15,000 $ 4,575 $ 30,000 $ 34,382 $ 5,000 $ 18,884 $ 65,000 $ 65,465 $ 100,000 $102,418 $ 32,000 $ 42,973
1986-
87 278,000 242,951 3,000 1,759 15,000 3,532 35,000 30,158 10,000 18,003 70,000 58,850 110,000 92,468 35,000 38,181
1987-
88 308,000 215,932 3,000 1,556 15,000 2,527 40,000 25,633 10,000 16,828 80,000 52,375 125,000 82,393 35,000 34,620
1988-
89 328,000 187,955 3,000 1,354 15,000 1,519 40,000 21,102 10,000 15,690 85,000 45,050 135,000 71,530 40,000 31,710
1989-
90 363,000 156,929 3,000 1,151 15,000 506 45,000 16,213 10,000 14,640 90,000 37,062 155,000 59,050 45,000 28,307
1990-
91 388,000 122,257 3,000 945 55,000 10,370 10,000 13,640 100,000 28,150 170,000 44,742 50,000 24,410
1991-
92 433,000 83,269 3,000 735 60,000 3,570 10,000 12,640 115,000 17,794 190,000 28,532 55,000 19,998
1992-
93 413,000 43,255 3,000 525 10,000 11,628 125,000 6,094 215,000 9,943 60,000 15,065
1993-
94 78,000 20,515 3,000 315 10,000 10,590 65,000 9,610
1994-
95 88,000 13,007 3,000 105 10,000 9,527 75,000 3,375
1995-
96 10,000 8,445 10,000 8,445
1996-
97 10,000 7,350 10,000 7,350
1997-
98 10,000 6,245 10,000 6,245
1998-
99 10,000 5,130 10,000 5,130
1999-
2000 10,000 4,005 10,000 4,005
2000-
2001 10,000 2,870 10,000 2,870
2001-
2002 10,000 1,725 10,000 1,725
2002-
2003 10,000 575 10,000 575
To-
tals $3.007.000 $1.393.066 $30.000 $10.399 $75.000 $12.659 $305.000 $141.428 $175.000 $178.415 $730.000 $310.840 $1.200.000 $491,076 $492,000 $248.249
w
CITY OF TIGARD, OREGON
SCHEDULE OF FUTURE DEBT SERVICE REQUIREMENTS
OF GENERAL OBLIGATION BONDS
as of June 30, 1985
vir
vat
Issued
June 6, 1984
Year of 9.7% to 18%
Maturity Principal Interest
1985-86 $ 40,000 $ 236,503
1986-87 45,000 229,302
1987-88 50,000 221,203
1988-89 55,000 215,202
1989-90 60,000 208,603
1990-91 65,000 202,153
1991-92 75,000 195,490
1992-93 80,000 187,990
1993-94 90,000 180,230
my 1994-95 100,000 171,320
1995-96 110,000 161,320
1996-97 125,000 150,210
1997-98 135,000 137,460
1998-99 150,000 123,555
1999-2000 165,000 107,955
2000-01 185,000 90,630
2001-02 200,000 71,020
wr 2002-03 225,000 49,820
2003-04 245,000 25,970
$2.200,000 $2.965.936
yr
r
0
,
45
STATISTICAL SECTION
CITY OF TIGARD, OREGON
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION -
BUDGETARY BASIS
for the last ten fiscal years
City-Wide
Support
Functions
Fiscal and
Year Ended Community Community Policy and Capital Debt
June 30 Services Development Administration Outlay Service Total
1976 $ 549,436 $ 299,757 $ 82,114 $ 117,791 $ 66,924 $1,116,022
1977 631,725 267,107 88,400 105,608 69,774 1,162,614
1978 924,720 444,111 123,769 136,830 60,762 1,690,192
1979 984,687 328,701 143,343 135,088 54,598 1,646,417
1980 1,231,631 510,098 190,308 232,502 50,348 2,214,887
1981 1,398,867 871,638 208,062 638,894 61,827 3,179,288
1982 1,591,208 1,113,210 282,349 551,917 75,425 3,614,109
1983 1,527,913 1,126,758 154,184 367,684 212,282 3,388,821
1984 1,680,374 1,507,879 237,028 241,984 449,545 4,116,810
1985 1,592,319 817,741 114,787 1,414,569 710,366 4,649, 782
Information derived from Comprehensive Annual Financial Reports for all governmental fund
types.
46
CITY OF TIGARD, OREGON
GENERAL GOVERNMENTAL REVENUES BY SOURCE - BUDGETARY BASIS
for the last ten fiscal years
Fiscal
Year Licenses Inter- Charges
Ended Franchise and Governmental for Fines and Miscellaneous
June 30 Taxes Fees Permits Revenues Services Forfeitures Revenues* Total
1976 $156,704 $109,755 $112,323 $ 465,117 $ 23,181 $ 26,305 $ 105,577 $ 998,962
1977 308,484 162,828 211,053 489,211 46,808 22,615 92,328 1,333,327
1978 198,159 166,236 359,524 658,901 65,989 32,880 120,466 1,602,155
1979 215,764 205,572 502,113 716,085 114,603 57,410 170,672 1,982,219
1980 256,366 275,861 362,818 893,586 51,074 57,000 329,716 2,226,421
1981 287,157 348,596 379,121 1,179,130 65,612 56,177 261,328 2,577,121
1982 690,118 390,637 267,598 1,381,121 67,286 57,343 491,988 3,346,091
1983 728,641 449,778 347,798 1,456,325 43,460 55,651 1,235,048 4,316,701
1984 904,238 468,020 286,318 921,613 243,102 70,425 932,657 3,826,373
1985 897,843 591,246 524,059 1,058,600 413,124 134,040 1,195,098 4,814,010
*Includes special assessment collections.
Information derived from Comprehensive Annual Financial Reports for all governmental fund types.
47
CITY OF TIGARD, OREGON
PROPERTY TAX LEVIES AND COLLECTIONS
for the last ten fiscal years
Percent of Percent of
Total Tax Delinquent
Fiscal Year Percent Delinquent Total Collections Outstanding Taxes
Ended Total Current Tax of Levy Tax Tax to Tax Delinquent to Tax
June 30 Tax Levy Collections Collections Collections Collections Levy Taxes Levy
1976 $155,806 $138,839 89.11% $19,551 $158,390 101.66% $ 21,837 14.02%
1977 327,288 293,516 89.68 16,623 310,139 94.76 33,550 10.25
1978 192,345 174,074 90.50 27,656 201,730 104.88 21,179 11.01
1979 227,357 201,349 88.56 17,123 218,472 96.09 27,790 12.22
1980 279,241 245,353 87.86 21,819 267,172 95.68 35,635 12.76
1981 308,904 271,649 87.94 26,884 298,533 96.64 41,516 13.44
1982 756,116 675,712 89.37 19,150 694,862 91.90 85,411 11.30
1983 817,642 722,215 88.33 42,635 764,850 93.54 130,010 15.90
1984 985,234 876,215 88.93 71,058 947,273 96.15 158,045 16.04
1985 962,280 864,334 89.82 90,687 955,021 99.24 164,558 17.10
Effective July 1, 1980, taxes are levied as of July 1 each year and are payable in three installments, without
interest, on November 15, February 15 and May 15. Interest is charged at the rate of 1% per month on delinquent
taxes. Tax liens are foreclosed after three years' delinquencies. Taxpayers receive a discount of 3% for payment
in full by November 15 and 2% for payment of two-thirds of the total taxes due.
Prior to July 1, 1980, taxes were levied as of July 1 each year and were payable quarterly, without interest, on
November 15, February 15, May 15 and August 15.
Property tax collections do not agree to tax revenues on the schedule of general governmental revenues by source -
budgetary basis for the last ten fiscal years due primarily to delinquent sewer charges of the City's Sewer Fund
and Storm Drainage Fund which are collected through the tax rolls and included in tax collections above.
Information derived from Comprehensive Annual Financial Reports for all governmental fund types.
48
CITY OF TIGARD, OREGON
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
for the last ten fiscal years
Ratio of
Total •
Public Assessed
Fiscal Real Property Personal Property Utility Property Total to Total
Year Estimated Estimated Estimated Estimated Estimated
Ended Assessed Actual Assessed Actual Assessed Actual Assessed Actual Actual
June 30, Value Value Value Value Value Value Value Value Value
1976 $160,424,482 $160,424,482 $16,038,701 $16,038,701 $10,904,959 $10,904,959 $187,368,142 $187,368,142 100%
1977 194,968,099 194,968,099 17,145,211 17,145,211 11,422,836 11,422,836 223,536,146 223,536,146 100
1978 234,272,679 234,272,679 18,733,299 18,733,299 13,091,905 13,091,905 266,097,883 266,097,883 100
1979 289,512,146 289,512,146 20,361,151 20,361,151 15,384,874 15,384,874 325,258,171 325,258,171 100
1980 384,440,292 384,440,292 21,065,797 21,065,797 14,968,913 14,968,913 420,475,002 420,475,002 100
1981 452,209,070 481,071,400 22,605,561 25,281,960 15,544,626 20,345,534 490,359,257 526,698,894 93
1982 566,426,435 693,465,000 31,197,001 33,662,670 20,139,054 26,271,473 617,762,490 753,399,143 82
1983 630,046,800 745,709,900 33,540,700 39,470,220 22,611,500 26,570,277 686,199,000 811,750,397 85
1984 712,347,200 786,812,100 37,192,100 40,973,590 26,504,200 29,153,338 776,043,500 856,939,028 91
1985 779,545,300 813,339,300 44,855,600 46,750,700 28,347,800 29,528,863 852,748,700 889,618,863 96
All property is assessed as of January 1, preceding the fiscal year beginning the following July 1. Prior to July 1, 1980, all
property was required by State of Oregon statute to be assessed at 100% of its true cash value.
Effective July 1, 1980, the true cash value of assessment concept was replaced by a system whereby the assessed value of indi-
vidual property may not increase more than 5% annually calculated on a statewide basis.
Source: Washington County Department of Assessment and Taxation.
CITY OF TIGARD, OREGON
PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS
(Per $1,000 of Assessed Value)
for the last ten fiscal years
Washington
Fiscal Washington County
Year Beaverton Tigard Unified Tualatin County Portland Education
Ended City of Washington Tigard School School Water Sewerage Rural Fire Rural Fire Community Service Other
June 30, Tigard County District #23 District #48 District Agency District District #1 College District Municipalities Total
1976 $ .82 $1.34 $14.83 $20.63 $.25 $.66 $2.58 $ .11 $.65 $.49 $ .49 $42.85
1977 1.45 1.52 14.51 18.55 .28 .73 3.01 .15 .62 .45 .57 41.84
1978 .71 1.36 12.71 15.75 .29 .75 2.79 .22 .58 .41 .84 36.41
1979 .68 1.18 10.79 13.41 .33 .61 2.84 .25 .52 .37 .70 31.68
1980 .63 1.04 9.93 11.38 .30 .34 2.66 .22 .44 .30 .38 27.62
1981 .60 1.65 10.81 12.73 .34 .36 3.08 .30 .43 .28 .38 30.96
1982 1.19 4.23 11.34 14.95 .33 .35 2.86 .35 .58 .26 .80 37.24
1983 1.12 4.02 13.01 14.76 .51 .55 3.28 2.70 .57 .26 1.23 42.01
1984 1.18 1.88 12.67 13.97 .36 .61 3.15 2.70 .57 .26 1.48 38.83
0
1985 1.06 1.97 12.12 13.76 .37 .49 3.12 2.71 .57 .26 1.62 38.05
Tax rates, expressed in dollars and cents per $1,000 of assessed value of taxable property in each taxing district, are required by the State Constitution
to be uniform throughout the district.
Taxes levied may be composed of three types of levies: (1) a base operating levy, (2) a special operating levy approved by the voters in the district and
(3) a debt service levy. The operating levy may be increased annually to 106% of the highest levy in the prior three years. Levy increases are permitted
in the year following expansion of a district's boundaries. Special operating levies may be approved for periods not exceeding 10 years. Each district
with outstanding general obligation bonded debt is required to levy taxes sufficient, with other available funds, to meet principal and interest payments
when due.
Assessment and tax rolls are prepared and maintained by Washington County for all taxing districts with territory in the county. The county collects all
taxes against property in the county (except assessments for improvements charged to benefited property) and distributes taxes collected at least monthly.
No charges are made to the taxing districts for these services.
Source: Washington County Department of Assessment and Taxation.
1
I
CITY OF TIGARD, OREGON
SPECIAL ASSESSMENT COLLECTIONS
for the last ten fiscal years
Fiscal Year Current Ratio of Total
Ended Assessments Assessments Collections Outstanding
June 30 Due (1) Collected (2) to Amount Due Assessments
1976 $ 30,000 $ 28,141 87.9% $ 113,014
1977 33,448 22,944 68.6 90,070
1978 25,000 26,328 105.3 63,741
1979 24,000 37,435 155.9 26,306
1980 29,000 19,374 66.8 224,101
1981 37,082 46,405 125.1 374,788
1982 32,000 61,068 190.8 2,067,732
1983 34,795 775,749 2,229.5 2,751,376
1984 174,464 469,969 269.4 2,417,184
1985 200,000 467,195 233.6 2,552,458
(1) This amount is equal to the principal due on Bancroft improvement bonds.
(2) Represents collections of current assessments for payment of Bancroft improvement bonds
as well as assessment collections on projects for which such bonds have not been issued.
Source: City assessment records.
51
CITY OF TIGARD, OREGON
RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE AND
NET BONDED DEBT PER CAPITA
for the last ten fiscal years
Gross
General Ratio of
Fiscal Obligation Less Debt Net Bonded
Year Bonded Service Net Debt to Net Bonded
Ended Assessed Debt Out- Monies Bonded Assessed Debt Per
June 30, Population Value standing Available Debt Value Capita
1976 10,226 $187,368,142 $ 96,000 $19,729 $ 76,271 .04 $ 7.46
1977 11,114 223,536,146 74,000 21,030 52,970 .02 4.77
1978 11,899 266,097,883 50,000 22,445 27,555 .01 2.32
1979 13,697 325,258,171 29,000 24,601 4,399 .32
1980 14,855 420,475,002 20,000 27,698 (7,698)
1981 14,690 490,359,257 10,000 10,000
1982 * * * * * * *
1983 * * * * * * *
1984 18,287 776,043,500 2,200,000 - 2,200,000 .28 120.30
1985 19,113 852,748,700 2,200,000 - 2,200,000 .26 115.10
Excludes Bancroft improvement bonds since these bonds are repaid from assessments against
benefited property owners.
*There was no outstanding general obligation bonded debt in 1983 and 1984.
Sources: City budget documents, Comprehensive Annual Financial Reports of the City and
Washington County Department of Assessment and Taxation.
52
CITY OF TIGARD, OREGON
COMPUTATION OF LEGAL DEBT MARGIN
June 30, 1985
ORS 287.004 provides a debt limit of 3% of the true cash value of all taxable property within
the City boundaries:
True cash value (1984-85) (1) $889,618,863
General obligation debt limit x3%
26,688,566
Gross bonded debt $5,207,000
Excludable debt - Bancroft improvement bonds (3,007,000)
Debt subject to limitation 2,200,000
Legal debt margin - amount available for future indebtedness $ 24,488,566
(1 ) From Washington County Department of Assessment and Taxation.
53
CITY OF TIGARD, OREGON
COMPUTATION OF OVERLAPPING GENERAL OBLIGATION DEBT
June 30, 1985
Percent
Applicable Amount Appli-
Net Debt Inside City cable Inside
Jurisdiction Outstanding of Tigard City of Tigard
Port of Portland $146,820,000 2.45% $ 3,597,090
Washington County 12,150,000 10.10 118,675
Unified Sewerage Agency 28,205,000 12.52 3,032,344
U.S.A. Metzger 546,000 23.76 128,304
Metzger Water District 119,366 52.09 62,178
Metzger Combined Water District 4,934,860 33.75 1,665,515
Tigard Water District 1,675,000 74.85 1,253,738
Tualatin Rural Fire District 620,000 33.76 209,312
Washington County Fire District #1 4,035,000 3.15 127,103
Tigard School District #23-J 15,863,000 49.31 7,822,045
Beaverton School District #48 23,570,000 1.68 395,976
$238,538,226 $18.412,280
Source: Oregon Municipal Debt Advisory Commission.
54
CITY OF TIGARD, OREGON
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES
FOR GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES
for the last ten fiscal years
Percent of Debt
Fiscal Year Total Total Service to
Ended Debt General Total General
June 30 Principal Interest Service Expenditures Expenditures
1976 $ 52,000 $ 14,924 $ 66,924 $1,116,022 6.0
1977 55,448 14,326 69,774 1,162,614 6.0
1978 49,000 11,762 60,762 1,690,192 3.6
1979 45,000 9,598 54,598 1,646,417 3.3
1980 38,000 12,348 50,348 2,214,887 2.3
1981 47,082 14,745 61,827 3,179,288 1.9
1982 42,000 33,425 75,425 3,614,109 2.1
1983 34,795 177,487 212,282 3,388,821 6.3
1984 174,464 275,081 449,545 4,116,810 10.9
1985 200,000 510,366 710,366 4,649,782 15.3
Note: Includes Special Assessment Debt.
Source: Comprehensive Annual Financial Reports of the City.
55
CITY OF TIGARD, OREGON
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
for the last ten fiscal years
Commercial Residential
Fiscal Year Construction(1) Construction(1)
Ended Number of Number of Bank Deposits
June 30 Permits Value Permits Value (in thousands)(2)
1976 38 $ 2,804,650 390 $ 9,708,691 $ 54,231
1977 112 6,879,656 582 16,107,157 64,929
1978 106 8,095,118 379 15,031,551 77,314
1979 69 10,877,291 657 24,000,387 90,305
1980 131 15,619,615 387 14,861,284 101,799
1981 131 8,013,746 289 18,343,452 101,520
1982 85 2,918,475 196 11,679,358 98,558
1983 102 3,940,579 244 13,281,694 102,314
1984 25 4,079,306 214 14,006,305 118,124
1985 33 9,890,600 231 16,948,338 129,152
(1) From City of Tigard Building Department.
(2) From State of Oregon Department of Commerce, Oregon Banking Division.
56
CITY OF TIGARD, OREGON
PRINCIPAL TAXPAYERS
June 30, 1985
Percentage
of Total
Assessed Assessed
Taxpayer Type of Business Valuation Valuation
Crow-Spieker-Hosford Business Center $21,267,600 2.49%
Pacific Realty Trust Real estate brokers 15,071,000 1.77
Fringe Land Ore Ltd Real estate 9,099,000 1.07
F.I.G. Holding Company Insurance 6,620,800 .78
Duane Co. (Fred Meyer) Shopping Center 6,150,700 .72
Williams Air Control Manufacturing 5,863,200 .69
Lamb Weston Food Processing 5,130,200 .60
Sunset Terrace/Verdugo Parkview
Apartments Apartments 4,919,900 .58
Coast Finance Finance 4,825,600 .57
Farwest Assoc. Summerfield
Tanglewood Assoc. Real estate 4,664,900 .55
Source: Washington County Department of Assessment and Taxation, based on April 1985 assessed
valuation.
57
CITY OF TIGARD, OREGON
DEMOGRAPHIC STATISTICS
for the last ten fiscal years
(2) (2)
Per Capita Unemployment
Income (3) Rate
(1) (Washington School (Portland
Fiscal Year Population County) Enrollment Metro. Area)
1976 10,226 6,907 5,691 8.7
1977 11,114 7,784 5,654 6.8
1978 11,899 8,800 5,643 5.2
1979 13,697 9,649 5,966 5.4
1980 14,855 10,935 6,256 6.3
1981 14,690 N/A 6,422 8.0
1982 17,700 N/A 6,491 N/A
1983 18,000 N/A 6,561 9.9(est. )
1984 18,287 N/A 6,358 8.1
1985 19,113 N/A 6,387 8.0
Sources of information:
(1) Portland State University, Population Research & Census Center.
(2) U. S. Bureau of Labor Statistics.
(3) Tigard School District 23J.
Information regarding the Median Age and Education Level of the City population is not
available.
N/A - Not available.
58
CITY OF TIGARD, OREGON
MISCELLANEOUS STATISTICAL DATA
June 30, 1985
Date of incorporation 1961
Form of government Council - Mayor - Administrator
Area 8.6 square miles
Miles of streets 93.38 miles
Number of street lights 1,393
Police protection:
Number of stations 1
Number of policemen and officers 22
Elementary Junior High High School
Education (elementary only):
Attendance centers 9 2 1
Number of classrooms 204 102 86
Number of teachers 205 97 94
Number of students 3,416 1,581 1,390
Sanitary sewers 69.55 miles
Building permits issued 528 permits were issued during fiscal
year 1985
Recreation and culture:
Number of parks Nine parks, totaling 60 acres
Number of libraries 1 library
Number of volumes Approximately 27,000 volumes
Employees:
Classified service 52
Exempt 32
Information obtained from the various departments of the City of Tigard, Oregon.
59
AUDIT COMMENTS AND DISCLOSURES
REQUIRED BY STATE REGULATIONS
40
40
AUDIT COMMENTS AND DISCLOSURES
REQUIRED BY STATE REGULATIONS
Oregon Administrative Rules 165-30-100 through 165-30-
295 of the Minimum Standards for Audits of Oregon Municipal
Corporations, prescribed by the Secretary of State in cooperation
with the Oregon State Board of Accountancy, enumerate the finan-
cial statements, schedules, comments and disclosures required in
audit reports. The required statements and schedules are set
forth in the preceding sections of this report. Required comments
and disclosures related to our examination of such statements and
schedules are set forth following.
60
wr
AUDIT COMMENTS AND DISCLOSURES
440
I . Internal Accounting Control:
We have examined the combined financial statements of
*i. the City of Tigard, Oregon for the year ended June 30, 1985 and
our report thereon, dated September 11, 1985, is included in a
preceding section of this report. As part of our examination, we
have obtained an understanding of accounting systems and controls
00 incorporated therein as required by generally accepted auditing
standards. The purpose of gaining such an understanding is to
assist the auditor in planning the nature and scope of the exami-
nation of the combined financial statements. The process of
40 obtaining such an understanding is more limited than a study and
evaluation necessary to express an opinion on the system of
internal accounting control taken as a whole. Based on our
understanding, we determined that our examination could be more
40 efficiently conducted without placing significant reliance on
internal accounting controls and, therefore, we did not directly
evaluate and test them. The nature and extent of our other
auditing procedures were adjusted accordingly.
40
Our examination of the combined financial statements
would not necessarily disclose all weaknesses in the system
because it was based on selective tests of accounting records and
,,0 related data. Accordingly, we do not express an opinion on the
system of internal accounting control of the City of Tigard,
Oregon taken as a whole. However, based solely on the procedures
described above, nothing came to our attention during our examina-
,, tion that indicated the existence of a material weakness . For
this purpose, a weakness is considered material if it results in
more than a relatively low risk that errors or irregularities in
amounts that would be material in relation to the combined finan-
40 cial statements of the City of Tigard, Oregon may occur and not be
detected within a timely period.
4,
61
AUDIT COMMENTS AND DISCLOSURES, Continued
I . Internal Accounting Control , Continued:
This report is intended solely for the use of management
and the State of Oregon, Secretary of State, Division of Audits
and should not be used for any other purpose.
II . Accounting Records:
In general we found the condition of the accounting
records adequate for audit purposes.
III . Compliance with Leaal Requirements :
A. Budgeting and Tax Levies:
The City has complied with the Local Budget Law (ORS
294.305 to 294. 520) in the preparation and adoption of
its budget and tax levies for the fiscal years ended
June 30, 1985 and 1986 .
B. Indebtedness:
The bonded debt of the City is in compliance with the
limitations imposed by ORS 287.004 and 223 .295.
C. Adequacy of Collateral Securing Depository Balances:
ORS Chapter 295 provides that each depository, through-
out the period of its possession of public fund depos-
its, shall maintain on deposit with its custodians, at
its own expense, securities having a value not less than
25% of the certificates of participation issued by the
pool manager for funds in excess of those insured by the
federal insurers.
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AUDIT COMMENTS AND DISCLOSURES, Continued
III . Compliance with Legal Requirements, Continued:
C. Adequacy of Collateral Securing Depository Balances,
Continued:
We reviewed the records of the City for compliance with
the requirements of ORS 295 regarding collateral secur-
ing depository balances. During the year ended June 30,
1985, the City was out of compliance with the require-
ments of ORS 895 for the months of July and August of
1984. The depository balance exceeded the collateral by
the amount of matured interest earnings accruing to the
principal balance. The deficiency was corrected in
September 1984. No other instances of noncompliance
were noted.
IV. Programs Funded from Outside Sources:
A. Federal and State Grants:
We reviewed and tested, to the extent deemed appropri-
ate, transactions and reports of the federal and state
programs in which the City participates. We did not
consider the scope of our audit engagement as requiring
us to make a complete audit examination of each project
and our audit opinion on the City' s combined financial
statements does not cover each individual grant. Each
grant is subject to audit by the grantor agency and any
adjustments may become a liability of the apppropriate
fund.
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AUDIT COMMENTS AND DISCLOSURES, Continued
IV. Programs Funded from Outside Sources, Continued:
A. Federal and State Grants, Continued:
Based on our tests of the accounting records and exam-
ination of reports to grantor agencies, we were, in
general, satisfied as to the propriety of accounting for
such revenues and expenditures for the fiscal year ended
June 30, 1985, subject to any adjustments subsequently
required as a result of audits performed by the grantor
agencies .
B. Federal Revenue Sharing:
We reviewed and tested the City' s participation in the
Federal Revenue Sharing Program for financial compliance
as prescribed in the audit guide issued by the Office of
Revenue Sharing. The review disclosed no conditions
which we considered to be matters of noncompliance.
V. Insurance and Fidelity Bond Coverage:
We examined the City' s insurance and fidelity bond
coverage at June 30, 1985 . We ascertained that such policies
appeared to be in force. We are not competent by training to
state whether the insurance policies covering City-owned property
in force at June 30, 1985 are adequate.
VI . Cost Accounting System:
Our review of the City' s cost accounting system dis-
closed no substantial noncompliance with the Cost Accounting
Guidelines developed by the State of Oregon Executive Department.
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