CAFR Report - 1999-2000 1
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City of Tigard Oregon
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C omprehensive Annual
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1 For the Fiscal Year ended
I June 30, 2000
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A Short History of Tigard '
It is hard to imagine that Tigard was once a rural farming area. This community
was founded by several families whose names are well recognized in Tigard
today. These family names can be found scattered throughout the City on
streets such as Sattler Road and Scheckla Drive. However, no family is as well
known as the City's namesake — the Tigard Family.
In 1852, Wilson M. Tigard arrived in the area known as East Butte. It was here
that Mr. Tigard settled with his family and started the Tigard family's involvement
in the community by assisting in the organization of the East Butte School. Mr.
Tigard's son, Charles F. Tigard, continued in his father's civic footsteps by
building a general store, a meeting hall and serving in the Oregon Legislature.
The general store became the home for the area's post office, which prompted
the renaming of East Butte to Tigardville by Charles F. Tigard in honor of his
father.
Tigardville remained a small farming community until the arrival of the Oregon
Electric Railroad (OERR) in 1910. The OERR not only triggered the
development of Main Street, but also shortened Tigardville to Tigard to
distinguish it from Wilsonville. Tigard continued to grow and prosper and '
officially became a city in 1961.
Although the farms that once covered Tigard are now distant memories, part of '
the past still remains. The John Tigard House has been preserved for all to
enjoy. John Tigard, son of Wilson M. Tigard, constructed the house in 1880 at
the corner of what is now Pacific Highway and Gaarde Street. The house was
threatened with demolition in the late 1970's, but due to the efforts of the Tigard
Area Historical and Preservation Association, the house was restored. In 1979,
the house was entered in the National Register of Historic Places. The house
now resides at the corner of SW Canterbury Lane and SW 103 in Tigard.
— by Kevin Sweet, Tigard
Front Cover: The John Tigard House original art y and g
High School Student, and cover design by Nancy Lof, City of Tigard Staff.
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CITY OF TIGARD, OREGON
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COMPREHENSIVE ANNUAL FINANCIAL REPORT
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for the fiscal year ended June 30, 2000
' Prepared by:
City of Tigard — Finance Department
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City of Tigard, Oregon
Table of Contents
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INTRODUCTORY SECTION:
Letter of Transmittal I ,
Mayor and City Council Members XI
Organization Chart XII
Certificate of Achievement for Excellence in Financial Reporting XIII
FINANCIAL SECTION:
Report of Independent Accountants 1
GENERAL PURPOSE FINANCIAL STATEMENTS
( "Liftable" Financial Statements):
Combined Balance Sheet - All Fund Types and Account Groups 2
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental 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 - All Enterprise Fund Types 5
Combined Statement of Cash Flows - All Enterprise Funds 6
Statement of Plan Net Assets - Pension Trust Fund 7
Statement of Changes in Plan Net Assets - Pension Trust Fund 7
Notes to General Purpose Financial Statements 8
SUPPLEMENTARY DATA (Combining and Individual Fund and
Account Group Statements and Other Financial Schedules):
General Fund:
Schedule of Revenues and Expenditures - Budget and Actual 24
Special Revenue Funds:
Combining Balance Sheet 25
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances 26
Schedules of Revenues and Expenditures - Budget and Actual:
Forfeitures From Criminal Activity Fund 27
State Tax Street Fund 28
Parks SDC Fund 29
County Gas Tax Fund 30
Traffic Impact Fund 31
Electrical Inspection Fund 32
Underground Utility Fund 33
Workers' Compensation Fund 34
Building Fund 35
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City of Tigard, Oregon
Table of Contents
Page
FINANCIAL SECTION, Continued:
SUPPLEMENTARY DATA (Combining and Individual Fund and Account
I Group Statements and Other Financial Schedules), Continued:
Special Revenue Funds, Continued:
I Schedules of Revenues and Expenditures - Budget and Actual:
Continued:
Urban Services Fund - TIF Fund 36
I Urban Services 37
Tree Replacement Fund 38
I Debt Service Funds:
Combining Balance Sheet 39
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances 40
I Schedules of Revenues and Expenditures - Budget and Actual:
General Obligation Bond Debt Service Fund 41
Bancroft Bond Debt Service Fund 42
I Capital Projects Funds:
Combining Balance Sheet 43
Combining Statement of Revenues, Expenditures and
I Changes in Fund Balances 44
Schedules of Revenues and Expenditures - Budget and Actual:
Local Improvement Capital Projects Fund - SW 69th Avenue 45
I Local Improvement Capital Projects Fund - Dartmouth
Metro Greenspaces Fund 46
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Park Levy Capital Improvement Fund 48
Facility Fund 49
I Enterprise Funds:
Combining Balance Sheet 50
I Combining Statement of Revenues, Expenses and Changes
in Retained Earnings 51
Combining Statement of Cash Flows 52
I Schedules of Revenues and Expenditures - Budget and Actual:
Sewer Fund 53
Storm Drainage Fund 54
Water Quality & Quantity Fund 55
I Water General Fund 56
Water Systems Development Fund 57
Water Capital Projects Fund 58
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City of Tigard, Oregon
Table of Contents Page 1
FINANCIAL SECTION, Continued:
SUPPLEMENTARY DATA (Combining and Individual Fund and Account
Group Statements and Other Financial Schedules), Continued:
General Fixed Assets Account Group:
Schedule of General Fixed Assets - By Sources 59
Schedule of General Fixed Assets - By Function and Activity 60
Schedule of Changes in General Fixed Assets - By Function and Activity 61
Other Schedules:
Schedule of Property Tax Transactions and Outstanding Balances 62
Schedule of Bond and Bond Interest Transactions 63
Schedule of Future Debt Service Requirements of
Bancroft Improvement Bonds 64
Schedule of Future Debt Service Requirements of
General Obligation Bonds 65
STATISTICAL SECTION:
General Governmental Expenditures By Function - Budgetary Basis -
for the last ten fiscal years 66
General Governmental Revenues By Sources - Budgetary Basis -
for the last ten fiscal years 67
Property Tax Levies and Collections - for the last ten fiscal years 68
Market Value and Assessed Value of Taxable Property -
for the last ten years 69
Special Assessment Collections - for the last ten fiscal years 70
Property Tax Rates - Direct and Overlapping Governments -
for the last ten fiscal years 71
Ratio of Net General Bonded Debt to Assessed Value and
Net Bonded Debt Per Capita - for the last ten fiscal years 72
Computation of Legal Debt Margin - June 30, 2000 73
Computation of Overlapping General Obligation Debt - June 30, 2000 74
Ratio of Annual Debt Service Expenditures for Long -Term Debt to
Total General Governmental Expenditures
for the last ten years 75
Property Value, Construction - for the last ten fiscal years 76
Principal Taxpayers - June 30, 2000 77
Demographic Statistics - for the last ten fiscal years 78
Miscellaneous Statistical Data - June 30, 2000 79 1
AUDIT COMMENTS AND DISCLOSURES REQUIRED BY
STATE REGULATIONS:
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Auditors' Comments and Disclosures
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UN N r EN ON r NO r NI N NO MI MN NM ON r r EN NW
1 December 12, 2000
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C OF
Citizens of Tigard
a
Honorable Mayor±
Members of the City Council EGON
r It is our pleasure to submit to you the Comprehensive Annual Financial Report of the
City of Tigard, Oregon, for the fiscal year ended June 30, 2000.
' This report was prepared by the City's Finance Department. Responsibility for both the
accuracy of presented data and the completeness and fairness of presentation, including
all disclosures, rests with the City. To the best of our knowledge and belief, the enclosed
data is presented accurately in all material respects, along with disclosures necessary to
ensure that the reader may gain maximum understanding of the City's financial position
' and results of operations of the various funds and account groups of the City.
The Comprehensive Annual Financial Report is presented in four sections:
1. Introductory — Includes the table of contents, a list of the City's principal officials,
the City organization chart, and this transmittal letter.
' 2. Financial — Includes the report of independent accountants, general purpose financial
statements, including notes to the financial statements, detailed combining and
individual fund and account group financial statements and schedules, and any
required supplementary schedules.
3. Statistical Tables — Includes selected general and financial information presented on
a multi -year, comparative basis.
4. Audit Comments and Disclosures Section — Includes the independent accountants'
comments and disclosure, as required by State regulations.
The report includes all funds and account groups of the City under the direction of the
City Council. Tigard/Tualatin School District, Tualatin Valley Water District, and
' Tualatin Valley Fire and Rescue District operate within the City limits but do not meet
the established criteria for inclusion in this reporting entity and, accordingly, are excluded
from this report.
Organization Overview
The City of Tigard is located in eastern Washington County just 12 miles southwest of
downtown Portland, Oregon. Tigard has continued to be one of the fastest growing cities
in Washington County and, with a population of approximately 39,672, is the eleventh
largest city in the State.
13125 SW Hall Blvd., Tigard, OR 97223 (503) 639 -4171 TDD (503) 684 -2772
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Incorporated in 1961, the City of Tigard is governed by an elected Mayor and four ,
council members who comprise the City Council. The City's Charter established the
Council /Manager form of government.
Each member of the City Council is elected at -large to serve a four -year term. The
Mayor presides at Council meetings and is elected at -large for a four -year term. The
Mayor and Council provide community leadership, develop policies to guide the City in
delivering services and achieving community goals, and encourage citizen awareness and
involvement.
The City Council appoints the City Manager, administrative head of the City government.
The City Manager is responsible for ensuring Council policies are implemented using
resources appropriated by the Council to achieve desired service results in the
community.
The City provides the following direct services: !
• Police
• Library
• Road and street maintenance and construction
• Park facilities and maintenance
• Community development activities, including the following:
♦ Planning I
♦ Building Inspection
♦ Engineering
• Street Lights
• Water
• Municipal Court
The City also maintains the wastewater and stoiin drainage system within the City limits
under an agreement with the Unified Sewerage Agency.
Economic Outlook
Tigard's location in the Portland metropolitan area provides its citizens with many
diverse employment opportunities. Over 54,000 jobs are located within a five - minute
drive from Tigard. The unemployment rate in the Portland metropolitan area averaged
just less than 4.10% during the year, representing a decline of .40% from the previous
year. ,
Tigard's assessed value for 1999/00 was $3,033,029,082. Up until June 30, 1997,
assessed value was required to be market value. A property tax limitation known as
Measure 50, which disconnected assessed value from market value for purposes of
distributing property tax levies, was passed by the voters state -wide in May 1997.
Measure 50 reduced assessed value for 1997/98 to the 1995/96 market value, less 10 %,
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plus the value of new construction. Assessed value grows each year by the rate of
increase in real market value or 3 %, whichever is less, plus a pro -rata share of new
construction and annexations.
Tigard's real property market value for 1999/00 was $3,938,205,819, which represents a
9.4% increase over the previous year. With the implementation of Measure 50 future
growth in assessed value, however, is limited to 3% per year plus new construction. In
1999/00, however, new construction was valued at $92,446,907 which gave the City the
third year in a row where new construction produced additional property tax dollars.
With Measure 50, however, Tigard's taxing authority is limited to its permanent rate of
$2.51 per thousand dollars of assessed value.
The results of the first quarter for Fiscal Year 2001 are showing building activity
increasing dramatically over 1999. Residential permits alone increased from 26 to 102
with commercial activity showing a slight decrease from 14 to 10 permits issued.
Financial Plan
The City has operated since 1980 using a five -year financial plan. Each plan sets forth
' the activities and services that will be provided to citizens over the coming five -year
period. Along with the services to be provided, the plan calls for a certain level of
property taxation to support those services.
City management and elected officials use the five -year plan to evaluate annual financial
decisions and their future impacts. Each budget presented to the Budget Committee
' includes a comparison to the plan to ensure that the intent of the plan is continued from
year to year.
The financial plan as adjusted at this time provides funding for City operations through
the year 2005.
The City's five -year financial plan shows that, overall, the City's financial condition is
good. The Plan does identify two problem areas that require immediate attention: the
Development Funds (Building and Electrical Inspection Funds) and the Road Funds
(State Gas Tax, County Gas Tax, Traffic Impact Fee Funds). The City has already begun
corrective measures in the Development Funds. The condition of the Road Funds in
general, and the State Gas Tax Fund in particular, are largely dependent upon State or
' County actions. The City continues to work with those entities to address these issues.
The financial plan projects declining balances in the General Fund and Water Funds
L (Water, SDC and Water CIP Funds) fund balances. However, these funds currently
contain strong fund balances. The financial plan suggests continued diligence in
controlling expenditures, combined with efforts to address revenue needs.
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Major Initiatives
On May 17, 2000, almost 1,100 new residents were added to Tigard's population
resulting from the City Council's February 2000 action to approve 16 separate
annexations of unincorporated islands in the Walnut Avenue area. This major step to
create more uniform City boundaries will provide the City with an opportunity to work
cooperatively with the new residents to address the problem of failing septic systems that
has adversely affected individuals within the area. Through the use of the City's
successful neighborhood sewer reimbursement program, the City hopes to systematically
extend service into the area. At the same time, City police service will be provided to the
area, as well as other City services. 1
An issue that the City still faces, and continues to aggressively work on, is obtaining a
long -term source of drinking water for City residents. The City currently purchases the ,
majority of its water supply from the City of Portland through a contract that extends
through 2007. The City is currently reviewing the options that are available to meet the
future needs of this area.
Generous bequests to the City library totaling in excess of $850,000 in 1999 has provided
the opportunity to establish a construction reserve to expand or replace the existing
library. Presently, a committee comprised of citizens, staff, and Council is evaluating
options and likely will be presenting a recommendation during this next budget year.
The City will continue to support development of the Washington Square Regional
Center Plan. Further work on the need to coordinate the improvement of infrastructure at
the time of development will be completed during this next year. The Washington
Square area is one of three regional centers in Washington County and one of eight in the
metropolitan region. Estimates from a recently completed study show that this regional
center can accommodate 10,100 new jobs and 2,067 new housing units.
Financial Information /Condition
Management of the City is responsible for establishing and maintaining an internal
control system designed to ensure that the assets of the City are protected from loss, theft
or misuse and to ensure that adequate accounting data is compiled to allow for the
preparation of financial statements in conformity with generally accepted accounting
principles. The internal control system is designed to provide reasonable, but not
absolute, assurance that these objectives are met. The concept of reasonable assurance
recognizes that: (1) the cost of a control should not exceed the benefits likely to be
derived; and (2) the valuation of costs and benefits requires estimates and judgments by
management.
The City of Tigard finished 1999/00 in a strong financial position. Tigard faired better
than most communities with the implementation of Measure 50 because voters had
passed an increased tax base in 1994 that was not levied until 1996/97. Because of the
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timing of the levy, it was recognized by Measure 50 and included in the permanent rate
calculation. Ending fund balances for most funds remain strong. All of these things
taken together make Tigard one of the most financially stable communities in the State
and more able to deal with growth and limitations on funding sources.
Fiscal Policies
The City of Tigard has an important responsibility to its citizens to carefully account for
public funds, manage municipal finances wisely, and plan adequate funding of services
and facilities desired and needed by the public.
In support of this effort, the City has established a set of fiscal policies to ensure that the
public's trust is upheld. With such fiscal policies, the City has established the framework
under which it will conduct its fiscal affairs, ensuring that it is and will continue to be
capable of funding and providing outstanding local government services.
The goals of Tigard's fiscal policies are:
• To enhance the City Council's policy- making ability by providing accurate
information on program and operating costs.
• To assist sound management of the city government by providing accurate and timely
information on current and anticipated financial conditions.
• To provide sound principles to guide important decisions of the Council and
management which have significant fiscal impact.
• To set forth operational principles, which minimize the cost and financial risk of local
government consistent with services, desired by the public.
• To employ revenue policies, which prevent undue or unbalanced reliance on any one
source, distribute the cost of municipal services fairly and provide adequate funds to
operate desired programs.
• To provide and maintain essential public facilities, utilities, infrastructure, and capital
equipment.
• To protect and enhance the City's credit rating.
• To insure that all surplus cash is prudently invested in accordance with the investment
policy adopted by the Council to protect City funds and realize a reasonable rate of
return.
Budgeting Controls
In addition, the City maintains budgetary controls, the objective of which is to ensure
compliance with legal provision in the annual appropriated budget adopted by the Tigard
' City Council. Activities of all funds are included in the annual adopted budget. The
level of budgetary control (that is, the level at which expenditures cannot legally exceed
the appropriated amount) is established by program within each individual fund.
As demonstrated by the statements and schedules included in the financial section of this
report, the city continues to meet its responsibility for sound financial management.
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General Governmental Functions
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The revenues and other financing sources for general governmental functions (all
governmental funds) on a generally accepted accounting principles basis totaled I
$23,581,734 in fiscal year 2000. Revenues from various sources and changes from last
year are shown below:
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Increase/
I Amount (Decrease) Percent
Fiscal Year Percent from Fiscal Increase/
Functions 2000 of Total Year 1999 (Decrease)
Taxes $ 7,876,219 33.40% $ (741,591) (8.61 %)
Franchise Fees 1,960,768 8.31% (9,972) (0.51 %)
Special
Assessments 952,816 4.04% (1,103,489) (53.66 %)
Licenses and
Permits 2,271,148 9.63% (509,631) (18.33 %)
Intergovernmental
Revenues 4,658,795 19.75% (56,591) (1.20 %)
Charges for
Services 675,323 2.87% 225,326 50.08%
Fines and
Forfeitures 371,594 1.58% (19,373) (4.96 %) 1
Miscellaneous
Revenues 2,451,342 10.40% 425,014 20.97%
Other Financing I
Sources 2,363,709 10.02% (2,394,545) (50.32 %)
Total $23,581,734 100.00% $(4,184,852) (15.07 %)
Property tax revenue decreased in the debt service funds reflecting the reduction in debt
service requirements. Because of the lower debt service requirements the City was able
to reduce the debt service levy. The substantial reduction in special assessments is a
result of final assessment and collections from the Dartmouth LID that were collected last
year and not required during FY 99/00. Due to a reduction in building activity during
periods of last year, revenues collected for licenses and permits were at lower levels.
Also, during last year, bond anticipation notes were sold for the 69 Avenue LID that is
no longer reflected in other financing sources. I
The following schedule presents a summary of program expenditures for all
governmental funds, including debt service, for the fiscal year ended June 30, 2000, and
the changes from the prior year:
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Increase/
I Amount Percent (Decrease)from Percent
Fiscal Year of Fiscal Year Increase/
Functions 2000 Total 1999 (Decrease)
I Community
Services $ 8,322,224 37.91% $543,891 6.99%
Public Works
I and Community
Development 4,738,142 21.59% 261,578 5.84%
Policy and
I Administration 2,287,819 10.42% 186,990 8.90%
City -wide
Support
I Function 202,851 0.92% (58,211) (22.30 %)
Capital
Improvements 3,699,868 16.86% (388,255) (9.50 %)
I Debt Service 2,699,338 12.30% (4,151,184) (60.60 %)
Total $21,950,242 100.00% ($3,605,191) (14.11 %)
Total expenditures decreased 14.11%. This decrease was due primarily from the
reduction in the scheduled debt service requirements. Some capital improvement projects
I were rescheduled or redesigned resulting in a reduction of expenditures over last year.
I Governmental Fund Balances
Total governmental fund balances of the City were $16,030,142 at June 30, 2000,
I consisting of $7,043,094 in the General Fund, $6,341,228 in the Special Revenue Funds,
$1,492,891 in the Debt Funds, and $1,152,929 in the Capital Projects Funds.
I Enterprise Operations
I The City's enterprise activities include sanitary sewer, storm sewer and water operations.
Although the Unified Sewerage Agency (USA) owns and operates sewage treatment
plants and sets the sewer rates, the City bills sewer accounts and maintains all sewer lines
I within the city. The City also maintains the storm sewer system, and charges a monthly
surface water fee at a rate set by the Regional Surface Water Management Agency, a
regional entity affiliated with USA.
I Sanitary sewer operating revenues derived primarily from service charges amounted to
$1,872,747. Operating expenses totaled $1,129,641 resulting in net income of
I $1,089,921 after non - operating interest revenues totaling $346,815.
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Storm sewer operating revenues amounted to $1,358,007. Storm sewer operating
expenses totaled $1,253,824 resulting in net income of $214,765 after non - operating
interest revenues totaling $110,582.
Water operating revenues derived from user charges amounted to $4,500,936. Operating
expenses totaled $5,847,884 resulting in a net loss of ($882,613) after non - operating
interest of $464,335.
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Pension Trust Funds
The City provides a retirement plan for each employee rou . Non-police personnel,
Yp p g P p P
including both management and non - management, are covered by ICMA money
purchase plans. Effective July 1, 1989, police personnel were included in the State of
Oregon Public Employees Retirement System. In addition, all employees have the option
to contribute to an ICMA deferred compensation program. The money purchase plans
are accounted for in a pension trust fund.
Cash Management
Temporarily idle cash during the year with invested in accordance with the investment
policy approved by the City Council in certificates of deposit, banker's acceptances,
commercial paper, U.S. Treasury Agencies and Notes, and the State of Oregon Local
Government Investment Pool. Pension trust funds are invested by the agents with whom
investment funds have been deposited and are, therefore, not included in the city's
investment activities.
Results of investment activity for the fiscal year are shown below in comparison with the
previous year:
Investment Income 2000 1999
General Fund $ 405,537 $ 347,866
Special Revenue Funds 346,998 372,545
Capital Projects Fund 62,186 27,753
Debt Service Funds 38,247 79,228
Enterprise Funds 921,732 926,761 1
Pension Trust Fund 941,410 845,481
Total $2,716,110 $2,599,634
The objective of the City's investment policy is to provide for the preservation of City
assets, to ensure such assets are available to meet obligations and to provide for a
reasonable rate of return on those assets.
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Risk Management
' The City has initiated a Risk Management Program to include regular risk categories
such as property and liability as well as workers' compensation. Such risks are currently
being insured by third party insurance companies, however, participation in insurance
pools and/or self - insurance is being discussed.
Debt Management
At June 30, 2000, the City has the following debt issues outstanding:
' General Obligation Bonds — 1993 Series A $ 695 000
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' General Obligation Bonds —1993 Series B 390,000
Limited Tax Improvement Bonds — Series 1998 1,747,075
Bond Anticipation Notes 3,663,178
Total $6,495,253
The State of Oregon mandates a general obligation debt limit of 3 percent of true cash
value of taxable property within the city boundaries. The limit totaled $118,146,175 at
June 30, 2000. The City's debt subject to this limit was $695,000. Bancroft Bonds,
Limited Tax Improvement bonds and Bond Anticipation Notes are not subject to the
limitation. Therefore, $117,451,175 is available for future indebtedness.
' The City has an Al bond rating from Moody's Investment Services on its general
obligation bonds.
1 Independent Audit
Oregon State Law requires every municipal corporation to submit an annual financial
report to the Secretary of State and to have its combined financial statements audited by
an independent certified public accountant in accordance with generally accepted
auditing standards and the Minimum Standards for Audits of Oregon Municipal
Corporations as prescribed by the Secretary of State. The independent auditors' opinion
has been included in this report.
Awards
For the last seventeen consecutive years, the City has received the Certificate of
Achievement for Excellence in Financial Reporting from the Government Finance
Officers Association of the United States and Canada (GFOA). In order to be awarded a
Certificate of Achievement for Excellence, a governmental unit must publish an easily
readable and efficiently organized comprehensive annual financial report, which
conforms to program standards. Such reports must satisfy both generally accepted
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accounting principles and applicable legal requirements. In our opinion, this report '
conforms to these standards.
A Certificate of Achievement is valid for a period of one year only. We believe that fur '
current comprehensive annual financial report continues to meet the Certificate of
Achievement Program's requirements, and we are submitting to the GFOA to determine
its eligibility for another certificate. 1
In addition, the City also received the GFOA's Award for Distinguished Budget
Presentation for its last eleven adopted budgets. In order to qualify for the Distinguished
Budget Presentation Award, the City's budget document was judged to be proficient in
several categories including policy document, financial plan, operations guide and
communications device.
Acknowledgements
The preparation of the comprehensive annual financial report was made possible by the
dedicated service of the entire staff of the Finance Department and our auditors, Pauly,
Rogers and Co., P.C. Each member of the Department has our sincere appreciation for
the contributions made in the preparation of this report. .
In closing, without the leadership and support of the City Council of the City of Tigard, 1
preparation of this report would not have been possible.
Sincerely, 1
William A. Monahan Craig Prosser
City Manager Finance Director
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City of Tigard, Oregon
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MAYOR AND COUNCIL MEMBERS AS OF JUNE 30, 2000
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Name Term Expires
Mayor James Nicoli * December 31, 2002
Councilor Paul Hunt December 31, 2000
Councilor Brian Moore December 31, 2000
Councilor Joyce Patton December 31, 2002
Councilor Ken Scheckla December 31, 2002
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William A. Monahan, City Manager
Crai g Prosser, Finance Director
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LEGAL COUNSEL
Ramis, Crew, Corrigan & Bachrach
1727 NW Hoyt Street
Portland, OR 97209
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* Mayor Nicoli died on June 30, 2000. On September 11, 2000, James Griffith was
appointed Mayor for the City of Tigard until a special election is held in March, 2001.
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ORGANIZATION CHART I
City of Tigard, Oregon
Citizens I
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Mayor & City
City Council .; Attorney ,
gi i' 1
City Manager
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A3 a- Community : ::;.1 City 1 ".:
Police Library Public Works J7 Development Engineering Administration Finance w
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Administration Administration Administration Administration Engineering City Finance
Department Management Department
Operations Readers Services Sanitary Sewer Building Inspection Street Lights /Signals Mayor & Financial
Council Operations
Support Technical Services Storm Sewer Current Human Resources Office Services
' Services Planning
Circulation Water Long Range Risk Management Records
Planning
Street Network Services Municipal Court I
Maintenance
Fleet Maintenance I
Property Mgmt.
Parks and I
Grounds
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Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Tigard,
Oregon
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1999
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
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� \� pN OFH ' E � F ` ie � e\ (
'� UNITED STATES
AND y /L."0'4?
2 CANADA
CORPORATION JS President
CHICAGO 4
Executive Director
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-�I
erer_ao ���
City of Tigard, Oregon
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MIN OW r NW rr IOW NO NO r OW — WO OW — r r rr ONO r
PAULY, ROGERS AND CO., C
® CERTIFIED PUBLIC ACCOUNTANTS
I • 12700 SW 72ND AVENUE • TIGARD, OREGON 97223 October 17, 2000
• (503) 620 -2632 • FAX (503) 684 -7523
To the Honorable Mayor and
Members of the City Council
City of Tigard, Oregon
INDEPENDENT AUDITORS' REPORT
We have audited the general purpose financial statements of the City of Tigard, Oregon, as of
and for the year ended June 30, 2000 as listed in the table of contents. The general purpose
financial statements are the responsibility of the City's management. Our responsibility is to
express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards. Those
I standards require that we plan and perform the audit to obtain reasonable assurance about
whether the general purpose financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the
general purpose financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the
general purpose financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above present fairly, in all
material respects, the financial position of the City of Tigard, Oregon, as of June 30, 2000, and
the results of its operations, and the cash flows of its enterprise fund type for the year then
ended, in conformity with generally accepted accounting principles.
Our audit was conducted for the purpose of forming an opinion on the general purpose
financial statements taken as a whole. The supplementary data of combining and individual
fund and account group statements and other financial schedules, as listed in the table of
contents is presented for purposes of additional analysis and is not a required part of the
general purpose financial statements. Such information has been subjected to the auditing
procedures applied in the audit of the general purpose financial statements and, in our opinion,
is fairly stated in all material respects in relation to the general purpose financial statements
taken as a whole.
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.
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PAULY, ROGERS AND CO., P.C.
CERTIFIED PUBLIC ACCOUNTANTS
TIGARD, OREGON 97223 1
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General Purpose Financial Statements
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CITY OF TIGARD, OREGON
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COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 2000 I
Governmental
Fund Types
Special
ASSETS AND OTHER DEBITS General Revenue
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Assets:
Cash and investments $ 7,967,858 $ 6,759,877
Restricted cash and investments - -
Accounts receivable 111,574 249,486
Due from other funds
Property taxes receivable 361,908 -
Assessment liens receivable - 179,192
Accrued interest on delinquent assessments - -
Prepaid insurance 17,759 -
Inventory 23,176
Fixed assets, net - -
Other Debits:
Amount available for retirement of general long -term debt - -
Amount to be provided for retirement of
general long -term debt - -
Total Assets and Other Debts $ 8,482,275 $ 7,188,555
LIABILITIES, FUND EQUITY AND OTHER CREDITS
Liabilities
Accounts payable and accrued liabilities $ 980,345 $ 302,712
Due to other funds - 59,036
Customer deposits 159,123 328,969
Deferred revenues:
Property taxes 299,713 -
Assessment liens receivable - 156,610
Accrued interest on delinquent assessments - -
Accrued vacation payable - -
Bond anticipation notes payable - -
III
Bonds payable - -
Special assessment bonded debt
with government commitment - - '
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Total Liabilities 1,439,181 847,327
Equity and Other Credits:
Contributed capital - -
Investment in general fixed assets - -
Retained earnings - -
Fund balances:
Reserved for prepaid insurance 17,759 -
Reserved for inventory 23,176 -
Reserved for employee retirement benefits - -
Unreserved and undesignated 7,002,159 6,341,228
Total Equity and Other Credits 7,043,094 6,341,228
Total Liabilities, Equity and Other Credits $ 8,482,275 $ 7,188,555 I
The accompanying notes are an intergral part of the general purpose financial statements.
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I CITY OF TIGARD, OREGON
COMBINED BALANCE SHEET
I ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 2000
I Governmental Proprietary Fiduciary
Fund Types Fund Type Fund Type Account Groups
General Totals
I Debt Capital Pension General Long -term (Memorandum
Service Projects Enterprise Trust Fixed Assets Debt Only)
111 $ 744,984 $ 1,095,906 $ 13,514,039 $ 9,108,553 $ - $ - $ 39,191,217
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4,199,377 4,199,377
7,092 2,056,407 2,424,559
59,036 59,036
33,186 164 103 - - - 395,361
3,582,252 - - - - - 3,761,444
2,629 - - - - - 2,629
- - - - - - 17,759
/ -
- 150,880
- - - 174,056
42,714,483 15,177,264 57,891,747
- - - - - 1,492,891 1,492,891
I - - - - - 5,160,884 5,160,884
$ 4,363,051 $ 1,162,198 $ 62,635,289 $ 9,108,553 $ 15,177,264 $ 6,653,775 $ 114,770,960
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$ - $ 9,105 $ 1,443,090 $ _ $ - $ _ $ 2,735,252
- - 59,036
- - 145,320 - - - 633,412
I 27,920 164 - 327,797
2,839,611 102 2,996,323
2,629 - - - - - 2,629
- - - 105,299 _ - 548,522 653,821
- 3,663,178 3,663,178
- - - - - 695,000 695,000
- - - - 1,747,075 1,747,075
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2,870,160 9,269 1,693,811 - - 6,653,775 13,513,523
1 - - 47,767,994 - - - 47,767,994
- - - - 15,177,264 - 15,177,264
- - 13,173,484 - - - 13,173,484
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- - = 23,176 -
9,108,553 9,108,553 -
1,492,891 1,152,929 15,989,207
1,492,891 1,152,929 60,941,478 9,108,553 15,177,264 - 101,257,437
$ 4,363,051 $ 1,162,198 $ 62,635,289 $ 9,108,553 $ 15,177,264 $ 6,653,775 $ 114,770,960
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City of Tigard, Oregon
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1 CITY OF TIGARD, OREGON
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
II, IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES
for the fiscal year ended June 30, 2000
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I Totals
Special Debt Capital (Memorandum
Revenues: General Revenue Service Projects Only)
Taxes $ 7,603,377 $ - $ 272,766 $ 76 $ 7,876,219
I Franchise fees 1,960,768 _
1,960,768
Special assessments 952,816 952,816.
Licenses and permits 36,735 2,234,413 - - 2,271,148
Intergovernmental revenues 2,305,345 2,345,509 - 7,941 4,658,795
I Charges for services 380,386 294,937 675,323
Fines and forfeitures 371,594 371,594
Interest earnings 405,537 346,998 38,247 62,186 852,968
Miscellaneous 199,504 201,744 157,693 1,039,453 1,598,394
Total revenues 13,263,246 5,423,601 1,421,522 1,109,656 21,218,025
I Expenditures:
Current
Community services 8,298,998 23,226 - - 8,322,224
Public works 440,687 925,204 - - 1,365,891
1 Development services 1,613,350 1,758,901 3,372,251
Policy and administration 1,874,194 413,625 2,287,819
City - wide support function 156,849 46,002 - - 202,851
Capital projects 313,259 1,939,477 - 1,447,132 3,699,868
I Debt service - 2,699,338 - 2,699,338
Total expenditures 12,697,337 5,106,435 2,699,338 1,447,132 21,950,242
I Changes in fund balance
before other financing sources (uses) 565,909 317,166 (1,277,816) (337,476) (732,217)
I Other financing sources (uses):
Proceeds from issuance of bond
anticipation notes - - 1,948,178 415,531 2,363,709
Operating transfers in - 150,000 30,000 - 180,000
I Operating transfers (out) (180,000) - (180,000)
Total other financing sources (uses) 180,000 150 000 1 978 178
(uses) ( 180,000) 415,531 2,363,709
I Changes in fund balance 385,909 467,166 700,362 78,055 1,631,492
Fund Balance - Beginning of year 6,657,185 5,874,062 792,529 1,074,874 14,398,650
I Fund Balance - End of year $ 7,043,094 $ 6,341,228 $ 1,492,891 $ 1,152,929 $ 16,030,142
The accompanying notes are an integral part of the general purpose financial statement
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CITY OF TIGARD, OREGON
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COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL - ALL GOVERNMENTAL FUND TYPES
for the fiscal year ended June 30, 2000
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General Fund Special Revenue Funds i
Variance Variance
Revised Favorable/ Revised Favorable/
Revenues: Budget Actual (Unfavorable) Budget Actual (Unfavorable)
Taxes $ 7,596,627 $ 7,603,377 $ 6,750 $ - $ - $ i-
Franchisefees 1,951,000 1,960,768 9,768 - - -
Special assessments - - - - - -
Licenses and permits 30,200 36,735 6,535 2,000,254 2,234,413 234,159
Intergovernmental revenues 2,493,325 2,305,345 (187,980) 2,448,445 2,345,509 (102,936)
Charges for services 463,200 380,386 (82,814) 1,634,013 294,937 (1,339,076)
Fines and forfeitures 400,500 371,594 (28,906) - - -
Interest earnings 321,750 405,537 83,787 454,500 346,998 (107,502)
Miscellaneous 144,550 199,504 54,954 80,000 201,744 121,744
Total revenues 13,401,152 13,263,246 (137,906) 6,617,212 5,423,601 (1,193,611)
Expenditures:
Current
Community services 8,623,440 8,298,998 324,442 27,629 23,226 4,403
Public works 542,138 440,687 101,451 1,102,661 925,204 177,457
Development services 1,728,393 1,613,350 115,043 2,081,163 1,758,901 322,262
Policy and administration 2,011,126 1,874,194 136,932 443,246 413,625 29,621
City - wide support function 160,181 156,849 3,332 46,949 46,002 947
Contingency 243,743 - 243,743 500,000 - 500,000
Capital projects 314,960 313,259 1,701 7,155,000 1,939,477 5,215,523
Debt service - - - - - -
Total expenditures 13,623,981 12,697,337 926,644 11,356,648 5,106,435 6,250,213
Changes in fund balance
before other financing sources (uses) (222,829) 565,909 788,738 (4,739,436) 317,166 5,056,602
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Other financing sources (uses):
Proceeds from issuance of bond
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anticipation notes - - - - - -
Operating transfers in - - - 150,000 150,000
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Operating transfers (out) (215,000) (180,000) 35,000 - - -
Total other financing sources (uses) (215,000) (180,000) 35,000 150,000 150,000 -
Changes in fund balance (437,829) 385,909 823,738 (4,589,436) 467,166 5,056,602
Undesignated, Unreserved - Fund Balance
Beginning of year 6,307,655 6,657,185 349,530 5,352,186 5,874,062 521,876
Undesignated, Unreserved - Fund Balance
End of year $ 5,869,826 $ 7,043,094 $ 1,173,268 $ 762,750 $ 6,341,228 $ 5,578,478
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The accompanying notes are an intergral part of the general purpose financial statements.
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II CITY OF TIGARD, OREGON
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
I IN FUND BALANCES - BUDGET AND ACTUAL - ALL GOVERNMENTAL FUND TYPES
for the fiscal year ended June 30, 2000
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I Debt Service Funds Capital Projects Funds Totals Memorandum Only)
Y)
Variance Variance Variance
I Revised Favorable/ Revised Favorable/ Revised Favorable/
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 258,938 $ 272,766 $ 13,828 $ $ 76 $ 76 $ 7,855,565 $ 7,876,219 $ 20,654
- - - - 1,951,000 1,960,768 9,768
296,206 952,816 656,610 - - - 296,206 952,816 656,610
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2,030,454 2,271,148 240,694
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247,000 7,941 (239,059) 5,188,770 4,658,795 (529,975)
- - - - - - 2,097,213 675,323 (1,421,890)
- - - - 400,500 371,594 (28,906)
I 15,000 38,247 23,247 23,346 62,186 38,840 814,596 852,968 38,372
180,421 157,693
(22,728) 150,000 1,039,453 889,453 554,971 1,598,394 1,043,423
750,565 1,421,522 670,957 420,346 1,109,656 689,310 21,189,275 21,218,025 28,750
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8,651,069 8,322,224 328,845
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- -
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1,644, 799 1,365,891 278,908
_ _
- - 3,809,556 3,372,251
- 2,287,819 437,305
2,454,372 166,553
- - - 207,130 202,851 4,279
- - - - - 743,743 - 743,743
- -
2,141,530 1,447,132 694,398 9,611,490 3,699,868 5,911,622
4,108,620 2,699,338 1,409,282 4,108,620 2,699,338 1,409,282
4,108,620 2,699,338 1,409,282 2,141,530 1,447,132 694,398 31,230,779 21,950,242 9,280,537
i (3,358,055) (1,277,816) 2,080,239 (1,721,184) (337,476) 1,383,708 (10,041,504) (732,217) 9,309,287
3,440,000 1,948,178 (1,491,822) 70,000 415,531 345,531 3,510,000 2,363,709 (1,146,291)
30,000 30,000 510,000 (510,000) 690,000 180,000 (510,000)
- - - - - (215,000) (180,000) 35,000
I 3,470,000 1,978,178 (1,491,822) 580,000 415,531 (164,469) 3,985,000 2,363,709 (1,621,291)
111,945 700,362 588,417 (1,141,184) 78,055 1,219,239 (6,056,504) 1,631,492 7,687,996
I 4,830 792,529 787,699 1,143,117 1,074,874 (68,243) 12,807,788 14,398,650 1,590,862
$ 116,775 $ 1,492,891 $ 1,376,116 $ 1,933 $ 1,152,929 $ 1,150,996 $ 6,751,284 $ 16,030,142 $ 9,278,858
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CITY OF TIGARD, OREGON
COMBINED STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS
ALL ENTERPRISE FUNDS
for the fiscal year ended June 30, 2000
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Operating revenues: `
Service charge $ 7,418,171
Miscellaneous 313,519
Total operating revenues 7,731,690
Operating expenses:
Salaries, wages and benefits 2,219,976
Contracted services 108,386
General, administrative and other 4,552,128
Depreciation p 1,350,859
Total operating expenses 8,231,349
Operating loss (499,659)
Nonoperating revenues - Interest 921,732
Net Income 422,073
Add depreciation on fixed assets donated or acquired from capital
contributions that reduce contributed capital 905,406
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Increase in retained earnings 1,327,479
Retained earnings - beginning of year 11,846,005 1
Retained earnings - end of year $ 13,173,484
The accompanying notes are an integral part of the general purpose financial
g p g p p statement.
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CITY OF TIGARD, OREGON
COMBINED STATEMENT OF CASH FLOWS
ALL ENTERPRISE FUNDS
for the fiscal year ended June 30, 2000
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Cash flows from operating activities:
Operating loss $ (499,659)
Adjustments to reconcile operating loss
to net cash provided by operating activities:
Depreciation 1,350,859
Increase in accounts receivable 642,689
Decrease in inventory 73,158
Increase in customer deposits 74,187
Increase in accounts payable and accrued liabilities (1,168,730)
Increase in accrued vacation payable 30,648
Decrease in deferred revenue (39)
Net cash provided by operating activities 503,113
Cash flows from capital and related financing activities:
Capital contributions 413,280
Acquisition of fixed assets (1,868,923)
Net cash used by capital and related financing activities (1,455,643)
Cash flows from investing activities -
Interest earnings 921,732
Net decrease in cash and cash equivalents (30,798)
Cash and cash equivalents - beginning of year 17,744,214
Cash and cash equivalents - end of year $ 17,713,416
Cash and cash equivalents are displayed on the balance sheet as follows:
Cash and investments $ 13,514,039
Restricted cash and investments 4,199,377
$ 17,713,416
Supplemental schedule of noncash investing, capital and related financing activities:
Contributed sewer, storm and water lines $ 2,114,222
The accompanying notes are an integral part of the general purpose financial statement.
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CITY OF TIGARD, OREGON I
STATEMENT OF PLAN NET ASSETS
PENSION TRUST FUND
June 30, 2000
Cash and investments $ 9,108,553 1
Net assets held in trust for pension benefits $ 9,108,553 1
STATEMENT OF CHANGES IN PLAN NET E ASSETS
PENSION TRUST FUND
for the fiscal year ended June 30, 2000
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Additions:
Contributions $ 733,511
Interest 941,410
Deductions:
Benefit payments and withdrawals (271,676)
Increase in net assets 1,403,245
Net assets held in trust for pension benefits:
Beginning of year 7,705,308
End of year $ 9,108,553
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The accompanying notes are an integral part of the general purpose financial statement.
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Notes to General Purpose Financial Statements
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City of Tigard, Oregon I
Notes to General Purpose Financial Statements
1. Summary of Significant Accounting Policies: ,1
The City of Tigard, under its Charter of 1962, is governed by an elected mayor and four
council members who comprise the City Council. The City has no component units.
Measurement Focus
The financial statements of the Governmental Fund Types are accounted for using a current 1
financial resources measurement focus. With this measurement focus, only current assets
and current liabilities generally are included on the combined balance sheet.
Operating statements of governmental funds present increases (revenues and other
financing sources) and decreases (expenditures and other financing uses) in net current
assets. Agency funds do not present operating results.
The Proprietary Fund Type (Enterprise Funds) and Pension Trust Fund are accounted for
using a flow of economic resources measurement focus. With this measurement focus, all
assets and all liabilities associated with the operation of these funds are included on the
combined balance sheet.
Bases of Accounting
The Governmental Fund Types and Agency Fund are maintained on the modified accrual
basis of accounting. Under the modified accrual basis of accounting, revenues are recorded
in the accounting period in which they become measurable and available and expenditures
are recorded in the time liabilities are incurred.
Revenues which were measurable and available at year -end under the modified accrual
basis of accounting were as follows:
* State, county, and local shared revenues for cigarette tax, liquor tax and other.
* Property tax revenues and assessment liens principal installments which are
collected within sixty days following year -end.
The accrual basis of accounting is utilized by the Proprietary Fund Type and Pension Trust ,
Fund. Under this method, revenues are recorded when earned and expenses are recorded
at the time liabilities are incurred. The proprietary funds have applied all Financial
Accounting Standards Board (FASB) Statements and Interpretations, Accounting Principles
Board Opinions and Accounting Research Bulletins of the Committee and Accounting
Procedure issued on or before November 30, 1989, unless those pronouncements conflict
with or contradict Governmental Accounting Standards Board (GASB) pronouncements. I
The basis of accounting described above are in accordance with generally accepted
accounting principles.
Receivables
Receivables for state, county and local shared revenues are recorded as revenue in the
Governmental Funds when they are determined to be measurable and available.
Receivables of the Enterprise Funds are recorded as revenue when earned.
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City of Tigard, Oregon
Notes to General Purpose Financial Statements
1. Summary of Significant Accounting Policies, Continued:
Substantially all accounts receivable for sewer and water service are either current or less
than 30 days delinquent and are considered collectible. Therefore, an allowance for
uncollectible accounts has not been provided. All accounts receivable balances are due
from customers within the City's boundaries.
Property taxes receivable for the Governmental Fund Types which have been collected
within sixty days subsequent to year -end are considered measurable and available and are
recognized as revenues. All other property taxes are offset by deferred property tax
revenues and, accordingly, have not been recorded as revenue. Property taxes become a
lien and are levied on July 1. Collection dates are November 15, February 15, and May 15
following the lien date. Discounts are allowed if the amount due is received by November
15. Taxes unpaid and outstanding on May 16 are considered delinquent. All property taxes
received are due from property owners within the County.
Assessments in the governmental funds are recognized as receivables at the time property
owners are assessed for property improvements. Assessments receivable collected within
sixty days after year -end are considered measurable and available and are recognized as
revenue. All other assessments receivable are recorded as deferred revenue and,
accordingly, have not been recorded as revenue.
Accrued interest on delinquent assessments which has been collected within sixty days
subsequent to year -end is considered measurable and available is recognized as revenue.
The remaining accrued interest on delinquent accounts is offset by a deferred revenue
account and, accordingly, has not been recorded as revenue.
Inventories
Inventories of parts, materials and supplies are stated at cost on the first -in, first -out basis
and are charged to expenditures as used.
Restricted Cash and Investments
Cash and investments which may only be used for construction of fixed assets in
accordance with applicable laws and regulations have been reported as restricted cash and
investments on the combined balance sheet
Investments
Investments included in cash and investments are stated at fair value. Investments in the
pension trust fund are stated at market.
For purposes of the statement of cash flows, the City considers the Enterprise Funds' cash
and investments with initial maturities to the City of three months or less, and the Oregon
State Treasurer's Investment Pool, to be cash.
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City of Tigard, Oregon 1
Notes to General Purpose Financial Statements
1. Summary of Significant Accounting Policies, Continued:
Enterprise Fund Fixed Assets
Purchased fixed assets are stated at historical cost or estimated historical cost when
historical cost is not available. Donated assets are recorded at fair market value on the date
of donation. Estimated fair market value of donated assets is determined based on the
engineering estimates of current cost or price indexed cost. Depreciation is computed on
assets in service, using the straight -line method over their estimated useful lives:
Buildings 40 years ,
Sewer Systems 40 years
Storm Drainage System 40 years
Water System 50 years
Equipment 5 to 10 years
Autos and Trucks 6 years
Depreciation expense on fixed assets donated or acquired from capital contributions is
recognized as a reduction of contributed capital and an increase in retained earnings.
Normal maintenance and repairs are charged to operations as incurred. 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 cost when 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. As fixed assets are disposed of, the historical cost or
estimated 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.
Expenditures for public domain fixed assets (streets, sidewalks, curbs and gutters, lighting 1
systems and similar assets) that are immovable and of value only to the City as a
governmental unit are reported as expenditures as incurred and are not capitalized in the
General Fixed Assets Account Group.
Long -term Debt
All unmatured long -term debt is recorded in the General Long -term Debt Account Group.
Periodic principal and interest repayments on bonded debt are made from special
assessments and property tax levies and are recorded in the Debt Service Funds. Bond
anticipation notes are expected to be repaid by rolling over the bonds to new bond
anticipation notes or by issuing long -term Bancroft Bonds. The accrued vacation liability will
be paid from the various governmental funds. The City has no long -term debt in its
Enterprise Funds. 1
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City of Tigard, Oregon
Notes to General Purpose Financial Statements
1. Summary of Significant Accounting Policies, Continued:
Accrued Vacation Payable
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, which does not vest, is recorded in all funds when leave is taken.
Contributed Capital
Contributed capital in the Enterprise Funds represents the accumulation 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 transactions 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 construction of fixed assets.
• Transfers from retained earnings for depreciation on fixed assets donated or
acquired by contributed capital resources.
• Meter installation and waterline hookup fees from customers and pipe
installations by developers.
Budget
A budget is prepared for each fund except for the Pension Trust Fund, essentially in
accordance with the modified accrual basis of accounting for governmental funds, in
accordance with the legal requirements set forth in Oregon Local Budget Law.
The resolution authorizing appropriations sets the maximum level of expenditures for each
fund. Expenditure appropriations may not be legally overexpended. Appropriations lapse
at the end of each fiscal year. Appropriations are made at the major program level for each
fund, for example, Community Services, Public Works, Development Services, Policy and
Administration, Nondepartmental, Debt Service, Capital Improvements and Contingency.
The detail budget document, however, is required to contain more detailed information for
the above - mentioned expenditure categories. 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 budgeted appropriations if an
occurrence, condition, or need exists which had not been ascertained at the time the budget
was adopted. 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 appropriations transfers between the levels of control. Such transfers •
require approval by the City Council. Management may not amend the budget without
Council approval. During the fiscal year ended June 30, 2000, several appropriation
transfers were made along with a supplemental budget for the 69 Ave. Local Improvement
District Fund.
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City of Tigard, Oregon I
Notes to General Purpose Financial Statements
1. Summary of Significant Accounting Policies, Continued: I
Budget, Continued
The budgets for each of the funds include capital outlay expenditures in each program for
capital outlays applicable to that program. Capital outlay expenditures benefiting the City
generally, and not an identifiable program, are reported separately. Debt service is also
budgeted separately.
Totals (Memorandum Only) Column on Combined Financial Statements
The "Totals (Memorandum Only)" column on the combined financial statements represents
an aggregate of the columnar statements by fund type and account group; it does not
represent consolidated financial information. Interfund eliminations have not been made in
the aggregation of this data
2. Fund Types and Account Groups:
The City's financial operations are accounted for in the following funds and account s: rou
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Governmental Fund Types I
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:
Criminal Forfeiture Fund - This fund accounts for funds and property
seized from criminals in connection with crimes committed.
State Gas Tax 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.
Parks SDC Fund - This fund accounts for system development charges for
major improvements to recreational facilities within the City.
County Gas Tax Fund - This fund accounts for road tax monies received
from Washington County for the maintenance and operation of roads.
Traffic Impact Fund - This fund accounts for traffic impact fees charged for
new development. This voter approved county -wide fee takes the place of
the City's Street SDC Fund. Funds will be used for highway and transit
capital improvements approved by the County that provide additional
capacity to the major transportation system.
Electrical Inspection Fund - This fund accounts for fees charged for
permits and inspection of electrical improvements.
Underground Utility Fund - This fund accounts for monies received from I
developers for future underground utility improvements.
Workers' Compensation Fund - This fund accounts for payments made I
for the workers' compensation insurance plan.
Building Fund - This fund accounts for fees charged for building inspection
and plan review activities.
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City of Tigard, Oregon
Notes to General Purpose Financial Statements
2. Fund Types and Account Groups, Continued:
Governmental Fund Types, Continued
Special Revenue Funds, Continued:
Traffic Impact Fee, Urban Services Fund - This Fund accounts for traffic
impact fees collected in the unincorporated Bull Mountain area. Funds will
be used for highway and transit capital improvements approved by the
Washington County that provide additional capacity to the major
transportation system.
Urban Services Fund - This fund accounts for all revenues and '
1 expenditures related to services provided in the unincorporated Bull
Mountain area. The City of Tigard began providing services to this area
after signing an intergovernmental agreement with Washington County.
Tree Replacement Fund - This fund accounts for fees charged to
developers in lieu of saving existing trees.
Debt Service Funds:
General Obligation Debt Service Fund - This fund accounts for payment
of general obligation bond principal and interest. The principal source of
revenue is from property taxes.
Bancroft Bond Debt Service Fund - This fund accounts for payment of
Bancroft improvement bond principal and interest. The principal source of
revenue is the collection of assessments against benefited property, interest
and contributions from other funds for their share of costs.
Capital Projects Funds:
69 Ave. Local Improvement District Fund - This fund accounts for
construction of Local Improvement District projects from the sale of
bond anticipation notes and certain other debt.
SW Dartmouth Local Improvement District /CIP Fund - This fund
accounts for construction of Local Improvement District projects from the
sale of bond anticipation notes and certain other debt.
Park Levy Capital Improvement Fund - This fund accounts for proceeds
from the sale of certificates of participation and improvements to the City's
park system.
Facility Fund - This fund accounts for monies set aside for future City
facility improvements.
Metro Greenspace Fund - This fund accounts for monies received
from Washington County to be used for greenspace property
acquisition and improvements.
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City of Tigard, Oregon ,
Notes to General Purpose Financial Statements
2. Fund Types and Account Groups, Continued:
Governmental Fund Types, Continued
Enterprise Funds:
Sanitary Sewer Fund - This fund accounts for the City's sewer utility
operations.
Storm Sewer Fund - This fund accounts for the City's storm drainage
operations.
Storm Sewer Fund (budgetary basis financial statements only)
Water Quality and Quantity Fund (budgetary basis financial
statements only)
Water Fund - This fund accounts for the City's water operations.
Water Fund (budgetary basis financial statements only)
Water SDC Fund (budgetary basis financial statements only)
Water CIP Fund (budgetary basis financial statements only)
Fiduciary Fund Type:
Pension Trust Fund - This fund accounts for the City's General
and Water Fund employee defined contribution plans.
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Account Groups
General Fixed Assets - This account group displays the City's investment
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in fixed assets, with the exception of those assets recorded in the
Enterprise Funds.
General Long -term Debt - This account group displays general long -term
indebtedness of the City.
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City of Tigard, Oregon
Notes to General Purpose Financial Statements
3. Cash and Investments:
The City maintains a cash and investment pool that is available for use by all funds, except
the Pension Trust Funds. Each fund type's portion of this pool is displayed on the combined
balance sheet as "cash and investments '. The investments of the Pension Trust Fund are
held separately from those of other City funds.
Cash and investments are comprised of the following at June 30, 2000:
Cash on hand $ 8,904
Cash held by Department of Finance, Washington County 35,025
Deposits with financial institutions 369,964
Investments 42,976,701
$ 43,390,594
Cash and investments are displayed on balance sheet as follows:
Cash and investments $ 39,191,217
Restricted cash and investments 4,199,377
$ 43.390.594
Deposits
Deposits with financial institutions include bank demand deposits and time deposit accounts.
The total bank balance is $1,215,693 (book balance is $369,964). Of these deposits,
$100,000 was covered by federal depository insurance and $1,115,693 was collateralized
with securities held by collateral pool managers. Oregon Revised statutes require the
depository institution to maintain on deposit, with a collateral pool manager, securities
having a value not less than 25 percent of the outstanding certificates of collateral issued by
the poll manager. The City's deposits are fully collaterlized in accordance with state law.
Investments
State statutes authorize the City to invest primarily in general obligations of the U.S.
government and its agencies, certain bonded obligations of Oregon municipalities, bank
repurchase agreements, bankers' acceptances, certain commercial paper and the state
Treasurer's Investment pool, among others.
' The City participates in the Oregon State Treasurer's Local Government Investment Pool
(LGIP), an open- ended; no -load diversified portfolio created under ORS 294.805 to 294.895.
The LGIP is administered by the State Treasurer and the Oregon Investment Council with
the advice of the Oregon Short Term Fund Board. The Oregon State Treasurer's Office has
calculated the fair value of the underlying investments of the LGIP and the City's share of
fair value is reflected below.
The City's investments are categorized below to give an indication of the level of credit risk
assumed by the City at June 30, 2000. Category 1 includes uninsured investments for
which the securities are held in the City's name by the trust department of the financial
institution selling the security to the City. Category 3 includes uninsuranced investments for
which the securities are held by the financial institution selling the security to the City or by
its trust department, but not in the City" name. The City does not use brokers or dealers for
its investments.
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City of Tigard, Oregon I
Notes to General Purpose Financial Statements
3. Cash and Investments, Continued: 1
Category 1 2 3 Amount
U.S. Government Securities $ 25,581,956 $ 25,581,956
Held by custodians I
under pension plans -
mutual fund investments 9,108,553
State Treasurer's Investment Pool 8,286,192
Total Investments $ 42,976,701
4. Assessment Liens Receivable:
Assessment liens receivable represent the uncollected amounts levied against benefited
property for the cost of local improvements. Because the assessments are liens against the 1
benefited property, an allowance for uncollectible amounts is not deemed necessary.
Substantially all assessments are payable over a period of 10 to 20 years. Assessments
bear interest to 7 to 13 percent. At June 30, 2000, the portion of the assessments
receivable balance that represents delinquent accounts is approximately $4,525.
5. Due To /Due From Other Funds:
Amounts are comprised of the following:
Fund Interfund Interfund
Receivables Payables
Capital Projects Fund:
Facility Fund $ 59,036 $ -
Special Revenue Fund:
Urban Services Fund - 59,036
$ 59,036 $ 59,036
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I City of Tigard, Oregon
Notes to General Purpose Financial Statements
I 6. Fixed Assets:
I Changes in fixed assets and accumulated depreciation by major classes in the Enterprise
Funds for the year ended June 30, 2000, are as follows:
Balances Balances
I June, 30 June, 30
1999 Adjustments Additions Retirements 2000
Land $ 1,331,457 $ - $ 30,351 $ - $ 1,361,808
I Building 1,052,255 - 1,052,255
Sewer system 10,202,915 (35,807) 1,120,029 11,287,137
Storm drainage system 9,487,793 - 615,197 - 10,102,990
I Water system 34,730,827 - 2,090,645 36,821,472
Equipment 1,106,519 86,936 (9,617) 1,183,838
Autos and trucks 810,677 - 39,987 - 850,664
1 58,722,443 (35,807) $ 3,983,145 $ (9,617) 62,660,164
Less accumulated
I depreciation (18,639,870) $ 35,807 $ (1,350,859) $ 9,241 (19,945,681)
$ 40,082,573 $ 42,714,483
Changes in fixed assets in the General Fixed Asset Account e ccount Group for the year ended June
30, 2000, are as follows:
I Balances Balances
June 30,1999 Additions Retirements June 30, 2000
I Land $ 4,491,061 $ 536,720 $ (295,462) $ 4,732,319
Buildings 5,510,445 260,749 (112,700) 5,658,494
Equipment 1,144,097 260,266 (2,442) 1,401,921
Autos and trucks 1,308,310 241,733 (58,831) 1,491,212
Office equipment 1,775,820 240,528 (123,030) 1,893,318
I $ 14,229,733 $ 1,539,996 $ (592,465) $ 15,177,264
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City of Tigard, Oregon I
Notes to General Purpose Financial Statements
7. Long -term Debt: I
Bonds payable
Bond transactions for the year ended June 30, 2000, and future maturities of bond principal
and interest, are as follows:
General Obligation bond issues — Interest rates from 3.4% to 4.75% 1
Fiscal Year Outstanding Paid Outstanding
Due June 30,1999 During Year June 30, 2000 Interest
2000 $ 210,000 $ (210,000) $ - $ -
2001 225,000 - 225,000 26,994 1
2002 225,000 - 225,000 16,813
2003 245,000 - 245,000 5,819
$ 905,000 $ (210,000) $ 695,000 $ 49,626 1
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Bancroft Improvement Bonds:
Bancroft improvement bond issues — Interest rates from 3.75% to 11.75 %; payable first from I
assessments to benefited properties and second, from the general credit of the City.
Paid and
Outstanding Paid Called Outstanding
Fiscal Year June 30, During During June 30,
Due 1999 Year Year 2000 Interest
1997 $ 10,000 $ - $ (10,000) $ - $ -
1998 - - - - -
1999 - - - - -
2000 189,174 (189,174) - - -
2001 134,907 - - 134,907 77,171
2002 205,894 - (65,000) 140,894 71,184
2003 257,147 - - 257,147 62,400
2004 153,678 - - 153,678 53,340
2005 -2010 1,135,449 - (75,000) 1,060,449 109,132
$ 2,086,249 $ (189,174) $ (150,000) $ 1,747,075 $ 373,227 1
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I City of Tigard, Oregon
Notes to General Purpose Financial Statements
I 7. Long -term Debt, Continued:
I Other Long -term Debt
Other long -term debt recorded in the General Long -term Debt Account Group and the
changes thereto during the year ended June 30, 2000, are as follows:
I Balance Balance
June 30, June 30,
1999 Additions Retirements 2000
Accrued vacation payable $ 398,138 $ 548,522 $ (398,138) $ 548,522
I Bond anticipation notes due
May 1, 2000; interest rate 4.15% $ 1,947,678 $ - $ (1,947,678) $ -
I October 1, 2000; interest rate 4.15% 1,245,000 -
1 (1,245,000) -
January 2, 2001; interest rate 5.1% 1,715,000 1,715,000
May 1, 2001; interest rate 5.33% - 1,948,178 - 1,948,178
I Total bond anticipation note due $ 3,192,678 $ 3,663,178 $ (3,192,678) $ 3,663,178
Note: It is the intention of the City to roll over each issue of the bond anticipation notes until bonds
I are sold.
8. Contributed Capital:
I The changes in contributed capital for the year ended June 30, 2000, were as follows:
Balance - Beginning of year $ 46,146,272
I Contributions from customers - cash 413,280
11 Contributions from customers - non -cash 2,114,222
Non -cash from deletion of fixed asset (374)
Transfer of depreciation on certain contributed fixed assets from
retained earnings (905,406)
I Balance - End of year $ 47,767,994
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City of Tigard, Oregon
Notes to General Purpose Financial Statements
9. Retirement Plans: 1
The City contributes to retirement plans on behalf of all eligible employees. At June 30,
2000, the following employee groups were covered by the following retirement plans:
Group Retirement Plan
Management/Professional Staff (Nonunion) International City Managers Association
Retirement Corp. (ICMARC) Money
Purchase Plan
Oregon Public Employees Union Employees ICMARC Money Purchase Plan
Tigard Water Fund Employees Ameritus I
Tigard Police Officers State of Oregon Public Employees
Retirement System (PERS)
Oregon Public Employees Retirement Systems (OPERS)
Plan Description 1
The City is a participating employer in the Oregon Public Employees Retirement System
(OPERS), an agent multiple - employer public employee retirement system, established
under Oregon Revised Statutes 238.600, that acts as a common investment and
administrative agent for public employers in the State of Oregon. Substantially all full -time
police employees are participants in PERS. The plan provides retirement, death and
disability benefits to participants or their beneficiaries. Benefits are established by State
Statute, and employer contributions are made at an actuarially determined rate as adopted
by the OPERS Retirement Board. OPERS, a component unit of the State of Oregon, issues
a comprehensive annual financial report, which may be obtained by writing to Oregon Public
Employees Retirement System, P.O. Box 23700, Tigard, Oregon 97281 -3700.
Funding Policy
The City's annual required contribution rate, as of July 1, 1999, is 6.99% of covered payroll. I
The next scheduled valuation date is December 31, 1999. This valuation has not been
completed.
The City is required by State Statute to contribute its current employer rate of 6.99% of
covered plus employee contributions of 6% of covered payroll.
Annual Pension Cost • 1
Because all OPERS participating employers are required by law to submit the contributions
as adopted by the OPERS Retirement Board, there is no net pension obligation to report
and the annual contributions are equal to the annual pension cost. For the fiscal years
ended June 30, 2000, 1999 and 1998, the City's annual pension cost was approximately
$202,000, $328,000 and $299,000, respectively.
The City's pension liability and the annual required contribution rate were determined as part
of the December 31, 1997 actuarial valuation using the entry age actuarial cost method.
The unfunded actuarial accrued liability in amortized as a level percentage of covered
payroll over a 30 -year period. The actuarial assumptions include a rate of return on
investment of present and future assets of 8% per year, projected salary increase of 5% per
year, and cost of living adjustments of 2% per year for post- retirement benefits.
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' City of Tigard; Oregon
Notes to General Purpose Financial Statements
9. Retirement Plans, Continued:
The following table presents a schedule of funding progress for the City's multiple - employer
pension plan:
Overfunded
Actuarial
Overfunded Liability as a
I Actuarial Actuarial Actuarial Percent of
Actuarial Value of Accrued Accrued Funded Covered Covered
Valuation Date Assets Liability Liability Ratio Payroll Payroll
1 December31, 1993 $ 5,846,165 $ 5,738,843 $ (107,332) 102% $ 1,918,181 -6%
December 31, 1995 7,946,463 7,616,462 (330,001) 104% 2,353,479 -14%
December 31, 1997 9,664,661 7,952,478 (1,712,183) 122% 2,360,045 -73%
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ICMARC Plans
The City contributes to defined contribution, single employer retirement plans at a specified
percent of gross salary depending on the employment group, for all employees who are not
covered under the Police Pension Plan. Employees do not make contributions to these
plans. The City is required to make contributions to these plans under authority of City
Council resolution and the plan documents.
e Employees become eligible to participate in the plans after six months of service and vest
immediately. Employees may withdraw funds upon retirement or termination of
employment.
' Contributions to the plans are made to a fiduciary. Since the plans are administered by the
City, the assets, equity and operations of the plans are accounted for in the General
Employees Pension Plan Fund, a pension trust fund. The Plans invests in various money
' market and equity mutual funds.
Required and actual contributions to the plan were $694,049 for the year ended June 30,
2000. Covered payroll was $6,309,536, for the year ended June 30, 2000.
Contributions as a percentage of payroll was 11 percent for all eligible employees
participating in the plans.
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City of Tigard, Oregon
Notes to General Purpose Financial Statements
9. Retirement Plans, Continued: I
Deferred Compensation Plans
The City offers certain employees deferred compensation plans created in accordance with
Internal Revenue Code Section 457. The plans permit employees to defer a portion of their
salary until future years. Contributions for the plans are made to fiduciaries who hold the I
funds in trust for the plans' participants. The Deferred Compensation Plans are not
considered City funds and are excluded from the Combined Balance Sheets.
10. Transactions with Unified Sewerage Agency of Washington County:
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The City 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 21.4
percent of sewer service charges collected and 20 percent of connection charges collected,
in accordance with an agreement between the City and USA dated June 25, 1991.
Payments of $4,802,159 were made to USA during 2000 under this agreement.
The City has a similar agreement with the Regional Surface Water Management Agency,
which is an affiliate of USA for storm water systems. Payments made to the Agency during
2000 under the agreement were $372,262. I
The net amount retained by the City is reported as revenue in the Enterprise Funds in the
Combined Statement of Revenues, Expenses and Changes in Retained Earnings /Fund
Balance - All Proprietary Fund Types - Enterprise Funds. Revenues are reported net
because the City acts in a fiduciary capacity on behalf of USA.
11. Segment Information for Enterprise Funds: I
The City's Sewer Fund and Storm Drainage Fund account for the acquisition,
operation, and maintenance of sewer and storm drainage systems which are supported by
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user charges. The City's Water Fund accounts for the operation and maintenance of the
City's water system and is supported through user charges. Segment information as of and
for the year ended June 30, 2000, is as follows:
Sanitary Sewer Storm Sewer Water I
Fund Fund Fund Total
Operating revenue $ 1,872,747 $ 1,358,007 $ 4,500,936 $ 7,731,690 1
Depreciation 286,867 270,530 793,462 1,350,859
Operating income (loss) 743,106 104,183 (1,346,948) (499,659) I
Net income (loss) 1,089,921 214,765 (882,613) 422,073
Current capital contributions 410,848 407,338 1,709,316 2,527,502
Fixed asset additions 733,563 210,058 925,302 1,868,923
I Networking capital 3,518,814 1,412,556 9,096,247 14,027,617
Total assets 15,446,513 10,470,631 36,718,145 62,635,289
Total equity 14,635,019 10,362,692 35,943,767 60,941,478
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City of Tigard, Oregon
Notes to General Purpose Financial Statements
' 12. Constitutional Property Tax Limitations:
In November 1990, the Oregon voters approved a State constitutional limit on property taxes
for schools and nonschool government operations. Under the provisions of the limitation,
tax revenues are separated into those for the public school system and those for local
' government operations other than the public school system. The limitation specifies $10.00
is the maximum allowable tax for each $1,000 of property real market value imposed by
local governments other than the public school system.
' The limitation applies to all state and local taxes and charges on property except for the
following:
1. Incurred charges for goods or services received at the owner's option;
2. assessments for capital construction that provide a special benefit to the property
and that can be paid off over at lease ten years;
3. taxes to repay bonded debt authorized by the state constitution;
4. taxes to repay existing bonded debt for capital construction, and
5. taxes to repay new bonded debt for capital construction if approved by voters.
During May 1997, Oregon voters approved Measure 50 which limits taxes on each property
by reducing the 1997 -98 assessed value of each property to 90% of its 1995 -96 value.
Measure 50 also limits future growth of the taxable value of each property to 3% per year
with certain exceptions. Measure 50 also establishes permanent tax rates for Oregon's
I local taxing districts, which replace the former tax base amounts of the districts. Tigard's
taxing authority is limited to its permanent rate of $2.51 per thousand dollars of assessed
value.
13. Deficit Fund Balance:
' At June 30, 2000, the SW Dartmouth Local Improvement District/CIP Fund, one of the funds
in the Capital Projects fund type, had a deficit fund balance of $5,145. Management has
budgeted activities for this fund for the year ending June 30, 2001, which are intended to
bring the fund balance into a positive position by June 30, 2001.
14. Risk Management
' The City is exposed to various risks of loss related to torts; theft of, damage to, and
destruction of assets; errors and omissions; injuries to employees and others; and natural
disasters. The City purchases commercial insurance to deal with substantially all these risks
with nominal deductibles. Settled claims resulting from these risks have not exceeded
' commercial insurance coverage in any of the past three fiscal years.
15. Overexpenditures of Appropriations:
For the Year ended June 30, 2000, the following fund had an over expenditure of
appropriations:
Electrical Inspection Fund Development services $1,677
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City of Tigard, Oregon
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I Supplementary Data
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City of Tigard, Oregon
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' General Fund.
This fund accounts for the financial operations of the City which are
p Y
not accounted for in any other fund. Principal resources are property
taxes, franchise fees, intergovernmental revenues, and licenses and
permits. Expenditures in the General Fund are made primarily for
police protection, community development and administration.
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CITY OF TIGARD, OREGON I
GENERAL FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
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for the fiscal year ended June 30, 2000
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Variance
Revised Favorable/
REVENUES: Budget Actual (Unfavorable)
Taxes $ 7,596,627 $ 7,603,377 $ 6,750 '
Franchise fees 1,951,000 1,960,768V 9,768
Licenses and permits 30,200 36,735 6,535
Intergovernmental revenues 2,493,325 2,305,345 (187,980)
Charges for services 463,200 380,386 (82,814)
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Fines and forfeitures 400,500 371,594 (28,906)
Interest earnings 321,750 405,537 83,787
Miscellaneous 144,550 199,504 / 54,954 '
Total revenues 13,401,152 13,263,246,/ (137,906)
EXPENDITURES
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Community services 8,623,440 8,298,998 324,442
I Public works 542,138 440,687 101,451
Development services 1,728,393 1,613,350 115,043
Policy and administration 2,011,126 1,874,194 136,932
City -wide support function 160,181 156,849 3,332
Contingency 243,743 - 243,743
Capital projects 314,960 313,259 1,701
Total expenditures 13,623,981 12,697,337 926,644 1
Change in fund balance
I before other financing (uses) (222,829) 565,909 788,738
Other financing (uses):
Operating transfer out (215,000) (180,000) 35,000 1
Change in fund balance (437,829) 385,909 823,738
UNDESIGNATED, UNRESERVED - FUND BALANCE I
BEGINNING OF YEAR 6,307,655 6,657,185 ✓ 349,530
UNDESIGNATED, UNRESERVED - FUND BALANCE I
END OF YEAR $ 5,869,826 $ 7,043,094 $ 1,173,268
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Special Revenue Funds
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' The Special Revenue Funds account for revenue derived from
specific taxes or other earmarked revenue sources which are legally
restricted to finance particular functions or activities. Funds included
in the fund type are:
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' ® Forfeitures From Criminal Activity Fund
' ® State Tax Street Fund
.1 ® Parks SDC
® County Gas Tax Fund
® Traffic Impact Fund
® Electrical Inspection Fund
• Underground Utility Fund
' ® Worker's Compensation Fund
• Building Fund
® Traffic Impact Fee Urban Services Fund
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• Urban Services
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® Tree Replacement Fund
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CITY OF TIGARD, OREGON
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2000
State County Traffic
Criminal Gas Parks Gas Traffic Electrical Underground Workers' Impact Fee Urban Tree
Forfeiture Tax SDC Tax Impact Inspection Utility Compensation Building Urban Service Services Replacement
Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Total
ASSETS:
Cash and investments $ 65,583 $ 426,973 $ 978,947 $ 60,006 $ 3,089,941 $ 126,341 $ 387,224 $ 364,101 $ 220,086 $ 636,624 $ 197,457 $ 206,594 $ 6,759,877
Accounts receivable - 166,800 - - - - - - - - 82,686 - 249,486
Assessment liens receivable - - - - 179,192 - - - - - - - 179,192
Total assets $ 65,583 $ 593,773 $ 978,947 $ 60,006 $ 3,269,133 $ 126,341 $ 387,224 $ 364,101 $ 220,086 $ 636,624 $ 280,143 $ 206,594 $ 7,188,555
LIABILITIES AND FUND BALANCES:
LIABILITIES:
Accounts payable $ - $ 51,911 $ 61,830 $ - $ 168,289 $ 48 $ - $ - $ - $ - $ 20,634 $ - $ 302,712
Due to other funds - - - - - - - - - - 59,036 - 59,036
Customer deposits - 127,024 - - - 5,397 - - - - 196,548 I - 328,969
Deferred revenues - - - - 156,610 - - - - - - - 156,610
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CT1 Total liabilities - 178,935 61,830 - 324,899 5,445 - - - - 276,218 - 847,327
FUND BALANCE UNRESERVED 65,583 414,838 917,117 60,006 2,944,234 120,896 387,224 364,101 220,086 636,624 3,925 206,594 6,341,228
Total liabilities and fund
balances $ 65,583 $ 593,773 $ 978,947 $ 60,006 $ 3,269,133 $ 126,341 $ 387,224 $ 364,101 $ 220,086 $ 636,624 $ 280,143 $ 206,594 $ 7,188,555
all MS • ale In ewe an IIIIII - 11011 1111111 eye r - 1111111 111. MI all
- -®® SW 1 MN M
MN MO MI e NM MS w NM MI - N
CITY OF TIGARD, OREGON
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
for the fiscal year ended June 30, 2000
State County Traffic
Criminal Gas Parks Gas Traffic Electrical Underground Workers' Impact Fee Urban Tree
Forfeiture Tax SDC Tax Impact Inspection Utility Compensation Building Urban Service Services Replacement
Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund Total
REVENUES
Licenses and permits $ - $ - $ - $ - $ 732,582 $ 168,277 $ - $ - $ 888,849 $ 129,309 $ 315,396 $ - $ 2,234,413
Intergovernmental revenues - 1,831,263 - 181,560 - - - - - - 332,686 - 2,345,509
Charges for services - - 235,325 - - - 48,915 - 7,120 - 3,577 - 294,937
Interest earnings 5,905 23,673 46,104 - 178,415 7,349 18,119 14,473 2,727 29,025 11,363 9,845 346,998
Miscellaneous revenues 16,942 8,191 - 2,258 - - - 123,249 20 - 12,012 39,072 201,744
Total revenues 22,847 1,863,127 281,429 183,818 910,997 175,626 67,034 137,722 898,716 158,334 675,034 48,917 5,423,601
EXPENDITURES.
Community services 11,660 - - - - - - - - - - 11,566 23,226
Public works - 611,394 - 132,191 - 871 - - 17,216 - 163,532 - 925,204
Development services - 400,235 3,640 - 70,171 163,348 - - 667,137 30,895 423,475 - 1,758,901
Policy and administration - 170,905 - - - 26,295 - - 141,556 - 74,869 - 413,625
City - wide support functions - 21,015 - - - 3,944 - - 11,775 - 9,268 - 46,002
N Capital projects - 563,895 194,286 - 1,166,927 - - - - - - 14,369 1,939,477
Total expenditures 11,660 1,767,444 197,926 132,191 1,237,098 194,458 - - 837,684 30,895 671,144 25,935 5,106,435
Changes in fund balance
before other financing sources 11,187 95,683 83,503 51,627 (326,101) (18,832) 67,034 137,722 61,032 127,439 3,890 22,982 317,166
Other financing sources:
Interfund transfer from the General Fund - - - - - - - - 150,000 - - - 150,000
Changes in fund balance 11,187 95,683 83,503 51,627 (326,101) (18,832) 67,034 137,722 211,032 127,439 3,890 22,982 467,166
FUND BALANCE - beginning of year 54,396 319,155 833,614 8,379 3,270,335 139,728 320,190 226,379 9,054 509,185 35 183,612 5,874,062
FUND BALANCE - end of year $ 65,583 $ 414,838 $ 917,117 $ 60,006 $ 2,944,234 $ 120,896 $ 387,224 $ 364,101 $ 220,086 $ 636,624 $ 3,925 $ 206,594 $ 6,341,228
CITY OF TIGARD, OREGON
I
CRIMINAL FORFEITURE FUND
SCHEDULE OF REVENUES AND EXPENDITURES- BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
I
Variance
I Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
I
Interest earnings $ 5,600 $ 5,905 $ 305
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Miscellaneous 5,000 16,942 11,942
Total revenues 10,600 22,847 12,247
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EXPENDITURES: ,
Community services 16,000 11,660 4,340
Change in fund balance (5,400) 11,187 16,587 1
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 37,628 54,396 16,768
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UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 32,228 $ 65,583 $ 33,355
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1 CITY OF TIGARD, OREGON
STATE GAS TAX FUND
I SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
I
I Revised Variance
Favorable/
Budget Actual (Unfavorable)
I I REVENUES:
Federal grants $ - $ 166,800 166,800
I State gas tax 2,170,245 1,654,580 (515,665)
Street lighting fees 8,200 9,883 1,683
Interest earnings 28,000 23,673 (4,327)
I Miscellaneous - 8,191 8,191
Total revenues 2,206,445 1,863,127 (343,318)
EXPENDITURES:
I Public works 749,931 611,394 1 38,537
Development services 510,844 400,235 110,609
Policy and administration 181,361 170,905 10,456
City -wide support functions 21,462 21,015 447
I Contingency 50,000 50,000
Capital projects 945,000 563,895 381,105
Total expenditures 2,458,598 1,767,444 691,154
Change in fund balance (252,153) 95,683 347,836
1 UN DESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 255,356 319,155 63,799
I UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 3,203 $ 414,838 $ 411,635
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CITY OF TIGARD, OREGON I
PARKS SDC FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
I
for the fiscal year ended June 30, 2000
I
I
Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
System development charges $ 381,480 $ 235,325 $ (146,155)
Interest earnings 68,000 46,104 (21,896)
1
Total revenues 449,480 281,429 (168,051)
EXPENDITURES: I
Development services 3,891 3,640 251
I Capital projects 910,000 194,286 715,714
Total expenditures 913,891 197,926 715,965
Change in fund balance (464,411) 83,503 547,914 I
UNDESIGNATED, UNRESERVED - FUND BALANCE
I
BEGINNING OF YEAR 465,336 833,614 368,278
UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 925 $ 917,117 $ 916,192
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CITY OF TIGARD, OREGON
COUNTY GAS TAX FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
1
I
Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
County gas taxes $ 150,000 $ 181,560 $ 31,560
Interest earnings 2,400 2,258 (142)
Total revenues 152,400 183,818 31,418
EXPENDITURES:
Public works 151,743 132,191 19,552
Change in fund balance 657 51,627 50,970
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 62 8,379 8,317
UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 719 $ 60,006 $ 59,287
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CITY OF TIGARD, OREGON ,
TRAFFIC IMPACT FEE FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL '
for the fiscal year ended June 30, 2000
1
Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
System development charges $ 980,340 $ 732,582 $ (247,758)
Interest earnings 250,000 178,415 (71,585)
Total revenues 1,230,340 910,997 (319,343)
EXPENDITURES:
Development services 70,742 70,171 571
Capital projects 3,800,000 1,166,927 2,633,073
Contingency 300,000 - 300,000
Total expenditures 4,170,742 1,237,098 2,933,644
Change in fund balance (2,940,402) (326,101) 2,614,301
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 2,963,789 3,270,335 306,546
UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 23,387 $ 2,944,234 $ 2,920,847
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I CITY OF TIGARD, OREGON
ELECTRICAL INSPECTION FUND
I SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
I
I Revised Variance
Favorable/
Budget Actual (Unfavorable)
I REVENUES:
Electrical permit fees $ 178,057 $ 155,940 $ (22,117)
Electrical plan check fees 14,511 12,337 (2,174)
II Interest earnings 20,000 7,349 (12,651)
Total revenues 212,568 175,626 (36,942)
I EXPENDITURES:
Public works 966 871 95
Development services 161,671 163,348 (1,677)
Policy and administration 27,955 26,295 1,660
I City -wide support function 4,024 3,944 80
Contingency 50,000 50,000
Total expenditures 244,616 194,458 50,158
I Change in fund balance (32,048) (18,832) 13,216
I UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 159,274 139,728 (19,546)
I UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 127,226 $ 120,896 $ (6,330)
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CITY OF TIGARD, OREGON ,
UNDERGROUND UTILITY FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
1
Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
Charges for services $ 58,000 $ 48,915 $ (9,085)
Interest earnings 16,000 18,119 2,119
Total revenues 74,000 67,034 (6,966)
EXPENDITURES:
Capital projects 373,000 - 373,000
Change in fund balance (299,000) 67,034 366,034 '
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 299,205 320,190 20,985 1
UN DESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 205 $ 387,224 $ 387,019 1
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t CITY OF TIGARD, OREGON
WORKERS' COMPENSATION FUND
' SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
1
I Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
Interest earnings $ 12,000 $ 14,473 $ 2,473
Miscellaneous 40,000 123,249 83,249
I Total revenues 52,000 137,722 85,722
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 215,121 226,379 11,258
' UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 267,121 $ 364,101 $ 96,980
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CITY OF TIGARD, OREGON I
BUILDING FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
I
for the fiscal year ended June 30, 2000
I
i I
Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
Licenses and permits $ 981,138 $ 888,849 $ (92,289) II
Charges for services 11,125 7,120 (4,005)
Interest earnings 6,500 2,727 (3,773)
Miscellaneous - 20 20
Total revenues 998,763 898,716 (100,047) I
EXPENDITURES:
Public works 20,085 17,216 2,869
I
Development services 768,620 667,137 101,483
Policy and administration 152,886 141,556 11,330
City -wide support functions 12,012 11,775 237
Contingency 50,000 - 50,000
Total expenditures 1,003,603 837,684 165,919 1
Change in fund balance
before other financing sources (4,840) 61,032 65,872
1
Other financing sources:
Interfund transfer from the General Fund 150,000 150,000 -
Change in fund balance 145,160 211,032 65,872
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 66,030 0 9,054 (56,976)
UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 211,190 $ 220,086 $ 8,896
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I CITY OF TIGARD, OREGON
TRAFFIC IMPACT FEE URBAN SERVICES FUND
I SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
I
I Variance
Revised Favorable/
Budget Actual (Unfavorable)
I REVENUES:
Licenses and permits $ 389,130 $ 129,309 $ (259,821)
Interest earnings 20,000 29,025 9,025
I Total revenues 409,130 158,334 (250,796)
I EXPENDITURES:
Development services 31,159 30,895 264
I Capital projects 900,000 - 900,000
Total expenditures 931,159 30,895 900,264
III Change in fund balance (522,029) 127,439 649,468
UN DESIGNATED, UNRESERVED - FUND BALANCE
I BEGINNING OF YEAR 525,232 509,185 (16,047)
UNDESIGNATED, UNRESERVED - FUND BALANCE
I END OF YEAR $ 3,203 $ 636,624 $ 633,421
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CITY OF TIGARD, OREGON I
URBAN SERVICES FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
I
Variance
Revised Favorable/
I
Budget Actual (Unfavorable)
REVENUES:
Intergovernmental revenues $ 120,000 $ 332,686 $ 212,686 I
Licenses and permits 629,986 315,396 (314,590)
Charges for services 10,500 3,577 (6,923)
Interest earnings 13,000 11,363 (1,637)
Miscellaneous - 12,012 12,012
Total revenues 773,486 675,034 (98,452) 1
EXPENDITURES:
Public works 179,936 163,532 16,404
Development services 522,607 423,475 99,132
Policy and administration 81,044 74,869 6,175 1
City -wide support functions 9,451 9,268 183
Contingency 50,000 - 50,000
Total expenditures 843,038 671,144 171,894 i
Change in fund balance (69,552) 3,890 73,442
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 173,887 35 (173,852)
UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 104,335 $ 3,925 $ (100,410)
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CITY OF TIGARD, OREGON
TREE REPLACEMENT FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
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I
Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
Tree replacement revenue $ 35,000 $ 39,072 $ 4,072
Interest earnings 13,000 9,845 (3,155)
Total revenues 48,000 48,917 917
EXPENDITURES:
Community services 11,629 11,566 63
Capital projects 227,000 14,369 212,631
Total expenditures 238,629 25,935 212,694
Change in fund balance (190,629) 22,982 213,611
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 191,266 183,612 (7,654)
UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 637 $ 206,594 $ 205,957
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City of Tigard, Oregon
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Debt Service Funds
■ The Debt Service Funds account for the payment of debt principal
f and interest. The City's debt service funds consist of .
I
• General Obligation Bond Debt Service Fund
® Bancroft Bond Debt Service Fund
Principal sources of revenues are property taxes for the General
Obligation Bond Debt Service Fund and special assessment
collections and interest earnings for the Bancroft Bond Debt Service
Fund.
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CITY OF TIGARD, OREGON I
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
June 30, 2000
I
General
Obligation Bancroft
Debt Bond Debt
I
Service Fund Service Fund Total
ASSETS:
Cash and investments $ 37,275 $ 707,709 $ 744,984 III
Property taxes receivable 33,186 - 33,186
Assessment liens receivable - 3,582,252 3,582,252
Accrued interest on delinquent assessments - 2,629 2,629
Total assets $ 70,461 $ 4,292,590 $ 4,363,051
LIABILITIES AND FUND BALANCES: I
LIABILITIES:
Deferred revenues:
Property taxes $ 27,920 $ - $ 27,920
Assessment liens receivable - 2,839,611 2,839,611
Accrued interest on delinquent
assessments 2,629 2,629
Total liabilities 27,920 2,842,240 2,870,160
FUND BALANCES -
DESIGNATED FOR DEBT SERVICE 42,541 1,450,350 1,492,891
Total liabilities and
fund balances $ 70,461 $ 4,292,590 $ 4,363,051
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I CITY OF TIGARD, OREGON
DEBT SERVICE FUNDS
I COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
I for the fiscal year ended June 30, 2000
I General
Obligation Bancroft
Debt Bond Debt
I Service Fund Service Fund Total
REVENUES:
I Taxes $ 272,766 $ $ 272,766
Collection of Bonded Assessments 952,816 952,816
Miscellaneous earnings - 157,693 157,693
I Interest earnings 6,539 31,708 38,247
Total revenues 279,305 1,142,217 1,421,522
I EXPENDITURES:
Debt service 251,030 2,448,308 2,699,338
I Change in fund balance
before other financing sources 28,275 (1,306,091) (1,277,816)
I Other financing sources:
Proceeds from issuance of bond
anticipation notes - 1,948,178 1,948,178
Interfund transfer from the General Fund 30,000 - 30,000
I Change in fund balance 58,275 642,087 700,362
I DESIGNATED - FUND BALANCE (DEFICIT)
BEGINNING OF YEAR (15,734) 808,263 792,529
I DESIGNATED - FUND BALANCE
END OF YEAR $ 42,541 $ 1,450,350 $ 1,492,891
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CITY OF TIGARD, OREGON ,
GENERAL OBLIGATION DEBT SERVICE FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
Taxes 258 258,938 272
$ 8 $ 272,766 $ 13,828
Interest earnings 5,000 6,539 1,539
Total revenues 263,938 279,305 15,367
EXPENDITURES:
Debt service 251,030 251,030 -
Change in fund balance
1
before other financing sources 12,908 28,275 15,367
Other financing sources: I
Interfund transfer from the General Fund 30,000 30,000 -
Change in fund balance 42,908 58,275 15,367 1
DESIGNATED - FUND BALANCE (DEFICIT)
BEGINNING OF YEAR (42,908) (15,734) 27,174
DESIGNATED - FUND
BALANCE - END OF YEAR $ - $ 42,541 $ 42,541
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i CITY OF TIGARD, OREGON
BANCROFT BOND DEBT SERVICE FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
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I Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
Collection of bonded assessments $ 296,206 $ 952,816 $ 656,610
Miscellaneous 180,421 157,693 (22,728)
Interest earnings 10,000 31,708 21,708
Total revenues 486,627 1,142,217 655,590
EXPENDITURES:
Debt service 3,857,590 2,448,308 1,409,282
Change in fund balance
before other financing sources (3,370,963) (1,306,091) 2,064,872
Other financing sources:
Proceeds from issuance of bond
anticipation notes 3,440,000 1,948,178 (1,491,822)
Change in fund balance 69,037 642,087 573,050
i DESIGNATED - FUND BALANCE
BEGINNING OF YEAR 47,738 808,263 760,525
DESIGNATED - FUND BALANCE
END OF YEAR $ 116,775 $ 1,450,350 $ 1,333,575
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City of Tigard, Oregon
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Capital Projects Funds
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The Capital Projects Funds are used to account for the construction
t of major capital projects and include:
e 69 Ave Local Improvement District Fund — funded by
proceeds from the sale of bond anticipation notes and other
short-term debt.
I . SW Dartmouth Local Improvement District /CIP Fund — funded
by proceeds from the sale of bond anticipation notes and other
short -term debt.
® Metro Greenspace Fund — accounts for monies received from
Washington County to be used for greenspace property
acquisition and improvements.
I
® Park Levy Improvement Fund — Revenue from Certificates of
Participation may only be used to fund specific park system
improvements. The Park Levy ended in 1994/95. Continuing
delinquent collections provide limited funds for ongoing
improvements.
• Facility Fund — accounts for monies set aside for future City
facility improvements.
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CITY OF TIGARD, OREGON I
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
June 30, 2000
I
69th Avenue SW Dartmouth I
Local Local
Improvement Improvement Metro Park Levy
I
District District /CIP Greenspace Improvement Facility
Fund Fund Fund Fund Fund Total
ASSETS:
Cash and investments $ 73,667 $ (2,753) $ (7,092) $ 219,053 $ 813,031 $ 1,095,906
Accounts receivable - - 7,092 - - 7,092
Due from other funds - - - - 59,036 59,036
Property taxes receivable - - - 164 - 164
Total assets $ 73,667 $ (2,753) $ - $ 219,217 $ 872,067 $ 1,162,198
LIABILITIES AND FUND BALANCES: I
LIABILITIES:
Accounts payable and accrued liabilities $ 2,438 $ 2,392 $ - $ 3,367 $ 908 $ 9,105
Deferred revenues - - - 164 - 164
Total Liabilities 2,438 2,392 - 3,531 908 9,269
FUND BALANCES (DEFICIT) - I
UNRESERVED 71,229 (5,145) - 215,686 871,159 1,152,929
Total liabilities and fund balances $ 73,667 $ (2,753) $ - $ 219,217 $ 872,067 $ 1,162,198
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I CITY OF TIGARD, OREGON
CAPITAL PROJECTS FUNDS
I COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
for the fiscal year ended June 30, 2000
I
I 69th Avenue SW Dartmouth
Local Local
Improvement Improvement Metro Park Levy
I District District/CIP Greenspace Improvement Facility
Fund Fund Fund Fund Fund Total
REVENUES:
Property taxes $ - $ - $ _ $ 76 $ - $ 76
I Intergovernmental revenues 7,941 7,941
Miscellaneous 1,726 1,037,727 1,039,453
Interest earnings 10,837 530 - 11,317 39,502 62,186
I Total revenues 12,563 530 7.941 11,393 1,077,229 1,109,656
EXPENDITURES:
Capital projects 1,185,395 28,120 7,941 19,462 206,214 1,447,132
I Change in fund balance
before other financing sources (1,172,832) (27,590) - (8,069) 871,015 (337,476)
Other financing sources:
I Proceeds from issuance of bond
anticipation notes 415,531 - - - - 415,531
Change in fund balance (757,301) (27,590) - (8,069) 871,015 78,055
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 828,530 22,445 223,755 144 1,074,874
UNDESIGNATED, UNRESERVED - FUND BALANCE
(DEFICIT) END OF YEAR $ 71,229 $ (5,145) $ $ 215,686 $ 871,159 $1,152,929
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CITY OF TIGARD, OREGON
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69th AVE. LOCAL IMPROVEMENT DISTRICT FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL I
for the fiscal year ended June 30, 2000
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Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
Miscellaneous 1,726 1,726
Interest Earnings 1,000 10,837 9,837
Total revenues 1,000 12,563 11,563 I
EXPENDITURES: II
II
Capital projects 1,304,530 1,185,395 119,135
Change in fund balance
g I
before other financing sources (1,303,530) (1,172,832) 130,698
Other financing sources : I
Interfund Transfer 475,000 - (475,000)
Bond proceeds - 415,531 415,531 1
Change in fund balance (828,530) (757,301) 71,229
UN DESIGNATED, UNRESERVED - FUND BALANCE I
BEGINNING OF YEAR 828,530 828,530 -
UNDESIGNATED, UNRESERVED - FUND BALANCE I
END OF YEAR $ - $ 71,229 $ 71,229
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CITY OF TIGARD, OREGON
SW DARTMOUTH LOCAL IMPROVEMENT DISTRICT /CIP FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
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Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
Interest Earnings $ - $ 530 $ 530
EXPENDITURES:
Capital projects 70,000 28,120 41,880
Change in fund balance
before other financing sources 70,000 27,590 42,410
Other financing sources :
Bond proceeds 70,000 - $ (70,000)
Change in fund balance - 27,590 (27,590)
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 900 22,445 21,545
UNDESIGNATED, UNRESERVED - FUND BALANCE
(DEFICIT) END OF YEAR $ 900 $(5,145) $ (6,045)
I
I
I
I
1
I
46
CITY OF TIGARD, OREGON t
METRO GREENSPACE FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
I
Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
Intergovernmental revenues $ 247,000 $ 7,941 $ (239,059)
EXPENDITURES:
Capital projects 247,000 7,941 239,059
Change in fund balance - - - 1
UN DESIGNATED, UNRESERVED (DEFICIT) - FUND
BALANCE BEGINNING OF YEAR 130 - (130)
UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 130 $ - $ (130)
1
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I
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I
1
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I
47
i
CITY OF TIGARD, OREGON
PARK LEVY IMPROVEMENT FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
I
I Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
Property taxes $ - $ 76 L ' $ 76
Interest earnings 12,700 11,317'' (1,383)
Total revenues 12,700 11,393— (1,307)
EXPENDITURES:
Capital projects 218,000 19,462 198,538
Change in fund balance (205,300) (8,069) 197,231
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 205,866 223,755 17,889
UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 566 $ 215,686 $ 215,120
I
I
I
1
I
1
48
CITY OF TIGARD, OREGON t
FACILITY FUND
SCHEDULE OF. REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
I
Variance
Revised Favorable
Budget Actual (Unfavorable)
REVENUES:
Miscellaneous $ 150,000 $ 1,037,727 $ 887,727
Interest earnings 9,646 39,502 29,856
Total revenues 159,646 1,077,229 917,583
EXPENDITURES:
projects
Capital ects 302 000 206,214 95,786
P P
Change in fund balance
before other financing sources (142,354) 871,015 1,013,369
Other financing sources:
Interfund transfer 35,000 - (35,000)
Change in fund balance (107,354) 871,015 978,369 1
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 107,691 144 (107,547)
UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 337 $ 871,159 $ 870,822
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1
I
49
I
I
I
I
Enterprise Funds
The Sanitary Sewer and Storm Sewer Funds are used to account for
the acquisition and maintenance of sewer and storm drainage facilities
which are supported by user charges. The Water Fund is used to
account for the operations and maintenance of the water system and is
supported through user charges. For financial reporting and operating
purposes, management considers the activities of the Storm Sewer
Fund and the Water Fund as unitary enterprises. However, for
budgetary and legal purposes these activities are accounted for in the
® funds listed below. Budget to actual schedules for these funds,
■ prepared on the accrual basis of accounting, are included in this
subsection.
Funds included in this fund category are:
® Sanitary Sewer Fund
® Storm Sewer Fund
® Storm Sewer Fund
• Water Quality and Quantity Fund
® Water Fund
® Water General Fund
• Water SDC Fund
• Water CIP Fund
I
i
CITY OF TIGARD, OREGON I
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
June 30, 2000
1
I
Storm
Sanitary Sewer Sewer Water
Fund Fund Fund Total
ASSETS:
Current assets: I
Cash and investments $ 3,381,257 $ 1,259,135 $ 8,873,647 $ 13,514,039
Accounts receivable 949,051 261,360 845,996 2,056,407
Property taxes receivable 1 - 102 103
Inventory - - 150,880 150,880
Total current assets 4,330,309 1,520,495 9,870,625 15,721,429
Noncurrent assets:
Restricted cash and investments 3,206,288 993,089 - 4,199,377
Fixed assets, net 7,909,916 7,957,047 26,847,520 42,714,483
1
Total noncurrent assets 11,116,204 8,950,136 26,847,520 46,913,860
Total assets $ 15,446,513 $ 10,470,631 $ 36,718,145 $ 62,635,289 1
LIABILITIES AND FUND EQUITY: I
LIABILITIES:
Accounts payable and accrued I
liabilities $ 784,645 $ 76,886 $ 581,559 $ 1,443,090
Customer deposits - 2,118 143,202 145,320
I
Deferred revenue - - 102 102
Accrued vacation payable 26,849 28,935 49,515 105,299
Total liabilities 811,494 107,939 774,378 1,693,811
I
FUND EQUITY:
Contributed capital 7,176,880 8,049,057 32,542,057 47,767,994
1
Retained earnings 7,458,139 2,313,635 3,401,710 13,173,484
Total fund equity 14,635,019 10,362,692 35,943,767 60,941,478
1
Total liabilities and fund equity $ 15,446,513 $ 10,470,631 $ 36,718,145 $ 62,635,289
I
1
50
I
I CITY OF TIGARD, OREGON
ENTERPRISE FUNDS
I COMBINING STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
for the fiscal year ended June 30, 2000
I
Storm
Sanitary Sewer Sewer Water
Fund Fund Fund Total
OPERATING REVENUES:
I Service charges $ 1,678,732 $ 1,271,105 $ 4,468,334 $ 7,418,171
Miscellaneous 194,015 86,902 32,602 313,519
I Total operating revenues 1,872,747 1,358,007 4,500,936 7,731,690
OPERATING EXPENSES:
I Salaries and wages 524,821 595,016 1,100,139 2,219,976
Contracted services 7,470 36,267 64,649 108,386
General, administrative and other 310,483 352,011 3,889,634 4,552,128
I Depreciation 286,867 270,530 793,462 1,350,859
Total operating expenses 1,129,641 1,253,824 5,847,884 8,231,349
I Operating income (loss) 743,106 104,183 (1,346,948) (499,659)
I NONOPERATING REVENUE:
Interest revenue 346,815 110,582 464,335 921,732
I Net income (Loss) 1,089,921 214,765 (882,613) 422,073
RECLASSIFICATION:
I Add depreciation on fixed assets donated or
acquired from capital contributions that
I reduces contributed capital 198,962 194,317 512,127 905,406
Increase (decrease) in retained earning: 1,288,883 409,082 (370,486) 1,327,479
I RETAINED EARNINGS - beginning of year 6,169,256 1,904,553 3,772,196 11,846,005
RETAINED EARNINGS - end of year $ 7,458,139 $ 2,313,635 $ 3,401,710 $ 13,173,484
I
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I
51
I
CITY OF TIGARD, OREGON I
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
for the fiscal year ended June 30, 2000 1
Storm I
Sewer Drainage Water •
Fund Fund Fund Totals I
Cash flows from operating activities:
Operating income (loss) $ 743,106 $ 104,183 $ (1,346,948) $ (499,659)
Adjustments to reconcile operating
I
income (loss) to net cash provided
by (used by) operating activities:
Depreciation Expense 286,867 270,530 793,462 1,350,859
Decrease in accounts receivable 319,788 29,971 292,930 642,689
Decrease in inventory - - 73,158 73,158
Increase in customer deposits - 2,118 72,069 74,187
Increase (decrease) in accounts payable and
accrued liabilities (1,176,046) (68,125) 75,441 (1,168,730)
Increase in accrued vacation payable 7,246 10,566 12,836 30,648
(Decrease) in deferred revenues - - (39) (39)
Net cash provided (used by)
operating activities 180,961 349,243 (27,091) 503,113
Cash flows from capital and related 1
financing activities:
Capital contributions - - 413,280 413,280
Acquisition of fixed assets (733,563) (210,058) (925,302) (1,868,923)
Net cash (used by) capital
and related financing activities (733,563) (210,058) (512,022) (1,455,643)
Cash flows from investing activities -
Interest earnings 346,815 110,582 464,335 921,732
Net increase (decrease) in cash
and cash equivalents (205,787) 249,767 (74,778) (30,798)
Cash and cash equivalents - beginning of year 6,793,332 2,002,457 8,948,425 17,744,214
Cash and cash equivalents - end of year $6,587,545 $ 2,252,224 $ 8,873,647 $ 17,713,416
Cash and cash equivalents are displayed on the
balance sheet as follows:
I
Cash and investments $3,381,257 $ 1,259,135 $ 8,873,647 $ 13,514,039
Restricted cash and investments 3,206,288 993,089 4,199,377
$6,587,545 $ 2,252,224 $ 8,873,647 $ 17,713,416
Supplemental Schedule of Nonfat I
Capital and Related Financing Activities:
Contributed sewer, storm and water lines $ 410,848 $ 407,338 $ 1,296,036 $ 2,114,222
I
I
52
i
I CITY OF TIGARD, OREGON
SANITARY SEWER FUND
I SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
1
I Variance
Revised Favorable
Budget Actual (Unfavorable)
I REVENUES:
Service charge $ 1,339,980 $ 1,678,732 $ 338,752
Miscellaneous - 194,015 194,015
I Interest earnings 300,000 346,815 46,815
Total revenues 1,639,980 2,219,562 579,582
1 EXPENDITURES:
I Public works 662,009 471,983 190,026
Development services 73,100 71,031 2,069
Policy and administration 303,522 290,613 12,909
I City -wide support function 26,829 26,282 547
Contingency 200,000 200,000
Capital projects 3,000,000 709,183 2;290,817
I Total expenditures 4,265,460 1,569,092 2,696,368
Change in fund balance (2,625,480) 650,470 3,275,950
I UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 5,985,647 6,101,481 115,834
I UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 3,360,167 $ 6,751,951 $ 3,391,784
1
I
I
I
I
i 53
CITY OF TIGARD, OREGON I
STORM SEWER FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
1
I
Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
Service charge $ 893,813 $ 1,080,666 $ 186,853 I
Miscellaneous - 44,412 44,412
Interest earnings 36,500 34,433 (2,067)
I
Total revenues 930,313 1,159,511 229,198
EXPENDITURES: I
Public works 758,827 589,587 169,240
Development services 67,264 65,598 1,666 I
Policy and administration 286,657 275,643 11,014
City -wide support function 26,829 26,282 547
Contingency 50,000 - 50,000
I
Capital projects 900,000 207,859 692,141
Total expenditures 2,089,577 1,164,969 924,608
I
Change in fund balance (1,159,264) (5,458) 1,153,806
UNDESIGNATED, UNRESERVED - FUND BALANCE I
BEGINNING OF YEAR 1,191,881 783,436 (408,445)
UNDESIGNATED, UNRESERVED - FUND BALANCE
I
END OF YEAR $ 32,617 $ 777,978 $ 745,361
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I
I
1
54
I CITY OF TIGARD, OREGON
WATER QUALITY /QUANTITY FUND
I SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
I
I
I Revised Variance
Favorable/
Budget Actual (Unfavorable)
REVENUES:
I
Service charge $121,170 $ 190,439 $ 69,269
Interest earnings 80,000 76,149 (3,851)
I Miscellaneous - 42,490 42,490
Total revenues 201,170 309,078 107,908
I EXPENDITURES:
I Development services 1,945
88 1,793 152
Capital projects 882,000 16,023 865,977
I Total expenditures 883,945 17,816 866,129
Change in fund balance (682,775) 291,262 974,037
I UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 683,418 1,365,340 681,922
I UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 643 $ 1,656,602 $ 1,655,959
I
I
I
I
I
I
55
CITY OF TIGARD, OREGON
I
WATER FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
I
for the fiscal year ended June 30, 2000
I
I
Variance
I
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
Service charge $4,096,650 $ 4,468,334 $ 371,684 1
System development charges 308,000 544,015 236,015
Interest earnings 400,000 244,756 (155,244) I
Miscellaneous 41,900 28,814 (13,086)
Total revenues 4,846,550 5,285,919 439,369
I
EXPENDITURES:
Public works 5,062,422 4,725,587 336,835
I
Policy and administration 374,169 353,245 20,924
City -wide support function 26,829 26,282 547
Contingency 488,228 - 488,228
I
Capital projects 1,110,800 764,723 346,077
Total expenditures 7,062,448 5,869,837 1,192,611
I
Change in fund balance (2,215,898) (583,918) 1,631,980
UNDESIGNATED, UNRESERVED - FUND BALANCE
I
BEGINNING OF YEAR 4,528,579 5,304,991 776,412
UNDESIGNATED, UNRESERVED - FUND BALANCE
I
END OF YEAR $ 2,312,681 $ 4,721,073 $ 2,408,392
I
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I
I
1
56
' CITY OF TIGARD, OREGON
WATER SDC FUND
1 SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
1
i
1 Variance
Revised Favorable/
Budget Actual (Unfavorable)
1 REVENUES:
System development charges $192,510 $ 233,610 $ 41,100
Interest 20,000 25,007 5,007
Total revenues 212,510 258,617 46,107
EXPENDITURES:
Capital projects 943,000 279,645 663,355
1 Change in fund balance (730,490) (21,028) (617,248)
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 731,402 398,858 (332,544)
UNDESIGNATED, UNRESERVED - FUND BALANCE
END OF YEAR $ 912 $ 377,830 $ (949,792)
1
I
1
i
1
1
1
' 57
CITY OF TIGARD, OREGON 1
WATER CIP FUND
SCHEDULE OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL
for the fiscal year ended June 30, 2000
i
1
Variance
Revised Favorable/
Budget Actual (Unfavorable)
REVENUES:
Interest earnings $ 220,000 $ 194,572 $ (25,428)
Miscellaneous - 4,163 4,163
Total revenues 220,000 198,735 (21,265) 1
EXPENDITURES:
Capital projects 4,000,000 108,847 3,891,153
Change in fund balance (3,780,000) 89,888 3,869,888
UNDESIGNATED, UNRESERVED - FUND BALANCE
BEGINNING OF YEAR 3,788,461 3,806,091 17,630
UNDESIGNATED, UNRESERVED - FUND BALANCE 1
END OF YEAR $ 8,461 $ 3,895,979 $ 3,887,518
1
1
1
1
1
1
1
1
58
1
I
I
I
I
I General Fixed. Assets Account Group
I
This account group accounts for the City's investment in fixed
I assets, with the exception of those assets in the Enterprise Funds.
I
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1
I
I
I
I
I
I
CITY OF TIGARD, OREGON ,
SCHEDULE OF GENERAL FIXED ASSETS
BY SOURCE
June 30, 2000
1
GENERAL FIXED ASSETS
Land $ 4,732,319
Building 5,658,494
Office equipment 1,893,318
Equipment 1,401,921
Autos and trucks 1,491,212
Total general fixed assets $ 15,177,264 1
INVESTMENT IN GENERAL FIXED ASSETS BY SOURCE:
General fund $ 11,200,010
Special revenue funds 1,465,892
Capital projects funds 1,391,984
Donations 1,119,378 1
Total investment in general fixed assets $ 15,177,264
1 I
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i
1
59
I CITY OF TIGARD, OREGON
SCHEDULE OF GENERAL FIXED ASSETS
I BY FUNCTION AND ACTIVITY
June 30, 2000
I
I
Machinery,
I Equipment,
Function and Activity Total Land Buildings and Other
Community services:
I Police $ 1,739,188 $ $ $1,739,188
Library 453,054 453,054
Parks 506,347 506,347
I Total community services 2,698,589 2,698,589
1 Community development:
Administration 98,604 98,604
Building 171,170 171,170
Planning 45,819 45,819
I Engineering 266,351 266,351
Operations /admin. 78,219 78,219
Operations /shops 52,595 52,595
I Streets 513,189 513,189
Operations /management 30,172 30,172
I Total community development 1,256,119 1,256,119
Policy and administration:
Mayor and city council 20,564 20,564
I City administration 57,171 57,171
Finance 77,782 77,782
Computer services 351,067 351,067
I Accounting 55,779 55,779
Office services 45,687 45,687
Records 41,752 41,752
I Court 11,892 11,892
Total policy and administration 661,694 661,694
I General government 10,560,862 4,732,320 5,658,494 170,048
Total investment in general fixed assets $15,177,264 $4,732,320 $5,658,494 $4,786,450
I
I
1
60
1
CITY OF TIGARD, OREGON
I
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
111
for the fiscal year ended June 30, 2000
I
General General
I
Fixed Assets Transfers/ Fixed Assets
Function and Activity June 30, 1999 Additions Retirements June 30, 2000
Community services: I
Police $ 1,585,021 $ 233,238 $ (79,071) $ 1,739,188
Library 455,354 29,324 (31,624) 453,054
Parks 394,995 111,352 - 506,347
Total community services 2,435,370 373,914 (110,695) 2,698,589 I
Community services:
Administration 95,694 2,910 - 98,604
Building 174,133 3,520 (6,483) 171,170
Planning 47,433 3,751 (5,365) 45,819
Engineering 245,840 40,164 (19,653) 266,351 I
Operations /admin. 52,071 26,997 (849) 78,219
Operations /shops 50,218 2,377 - 52,595
Streets 461,606 53,264 (1,681) 513,189
Operations /management 25,556 4,616 - 30,172
Total community development 1,152,551 137,599 (34,031) 1,256,119
Policy and administration:
II
Mayor and city council 20,564 - - 20,564
City administration 61,808 1,953 (6,590) 57,171
Finance 75,315 2,467 - 77,782
Computer services 225,614 151,491 (26,038) 351,067
Accounting 50,414 8,965 (3,600) 55,779
Office services 46,383 2,653 (3,349) 45,687
Records 38,176 3,576 - 41,752
Court 11,127 765 - 11,892
Total policy and administration 529,401 171,870 (39,577) 661,694
General government 10,112,411 856,613 (408,162) 10,560,862
Total investment in general fixed assets $ 14,229,733 $1,539,996 $ (592,465) $ 15,177,264
III
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1
61
1
1
1
1
Other Schedules
1 Schedules included in this section are:
1 • Property Tax Transactions and Outstanding Balances
1 • Bond and Bond Interest Transactions
1 • Future Debt Service Requirements of Bancroft Improvement
Bonds
Future Debt Service Requirements of General Obligation
1 Bonds
1
1
1
1
1
1
1
1
CITY OF TIGARD, OREGON
1
SCHEDULE OF PROPERTY TAX TRANSACTIONS AND OUTSTANDING BALANCES
for the fiscal year ended June 30, 2000
1
Property Add Property
Taxes Levy as Taxes
Receivable Extended Deduct Add Receivable
June 30, by Discounts (Deduct) Add Deduct June 30,
1999 Assessor Allowed Adjustments Interest Collections 2000 I
1999 - 2000 $ - $ 7,881,754 $ (193,421) $ (40,793) $ 2,825 $ (7,385,015) $ 265,350
1998 - 1999 302,702 - 180 (42,588) 12,679 (193,509) 79,464
1997 - 1998 76,584 - 5 (1,543) 5,978 (44,074) 36,950 I
1996 - 1997 28,270 - 19 (680) 5,042 (23,349) 9,302
I 1995 -1996 6,804 - (13) 309 1,589 (7,215) 1,474 1
1994 -1995 1,569 - (1) 22 377 (1,232) 735
1993 - 1994 & Prior 2,555 - (2) (87) 346 (790) 2,022
1
$ 418,484 $ 7,881,754 $ (193,233) $ (85,360) $ 28,836 $ (7,655,184) $ 395,297
Property Taxes
Cash Receivable
Distributed as follows: Collections June 30, 2000
General Fund:
I
Current $ 7,209,184 $ 336,773
Prior years' levies 173,099 25,135
Total General Fund 7,382,283 361,908
Enterprise Funds:
Prior Years' levies 59 39 I
Total Enterprise Funds 59 39
Debt Service Funds
Current 232,191 27,611
I
Prior years' levies 40,575 5,575
Total Debt Service Funds 272,766 33,186
Capital Projects Funds:
Prior years' levies 76 164
Total Capital Projects Funds 76 164
I
Total $ 7,655,184 $ 395,297
1
1
I
. 1
62
1 CITY OF TIGARD, OREGON
SCHEDULE OF BOND AND BOND INTEREST TRANSACTIONS
1 for the fiscal year ended June 30, 2000
1
I Bond Transactions Interest Transactions
I Outstanding Outstanding
Original June 30, Matured/ June 30,
Bancroft Bonds Issue 1999 Called Paid 2000 Matured Paid
I Issued September 1, 1982 $ 184,664 $ 10,000 $ - $ (10,000) $ - $ - $ -
Issued August 1, 1991 405,000 65,000 65,000 (65,000) - 3,900 (3,900)
I Issued May 1, 1983 660,000 525,000 135,000 (135,000) 390,000 22,165 (22,165)
Issued November 30, 1998 1,565,576 1,486,249 129,174 (129,174) 1,357,075 64,062 (64,062)
1 $ 2,086,249 $ 329,174 $ (339,174) $1,747,075 $ 90,127 $(90,127)
General Obliqation Bonds
1 Issued May 1, 1993 $ 6,935,000 $ 905,000 $ 210,000 $ (210,000) $ 695,000 $ 41,030 (41,030)
1
1
1
1
1
1
1
1
1
63
1
CITY OF TIGARD, OREGON 1
SCHEDULE OF FUTURE DEBT SERVICE REQUIREMENTS
OF BANCROFT IMPROVEMENT BONDS
June 30, 2000
1
Issued Issued 111 May 1, 1993 December 1, 1998
Year of Total Requirements 4.10 % to 5.00% 4.39%
Maturity Principal Interest Principal Interest Principal Interest
2000 -2001 $ 134,907 $ 77,171 $ - $ 19,060 $ 134,907 $ 58,111
2001 -2002 140,894 71,184 - 19,060 140,894 52,124
2002 -2003 257,147 62,401 110,000 16,530 147,147 45,871
2003-2004 153,678 53,340 14,000 153,678 39,340 1
1
2004 -2005 160,499 46,519 - 14,000 160,499 32,519
2005 -2006 447,622 32,396 280,000 7,000 167,622 25,396 1
2006 -2007 175,061 17,957 - - 175,061 17,957
2007 -2008 182,831 10,187 - - 182,831 10,187 1
2008 -2009 94,436 2,073 - - 94,436 2,073
Totals $ 1,747,075 $ 373,228 $ 390,000 $ 89,650 $ 1,357,075 $ 283,578 1
1
1
1
1
1
1
1
1
64
1
CITY OF TIGARD, OREGON
SCHEDULE OF FUTURE DEBT SERVICE REQUIREMENTS
OF GENERAL OBLIGATION BONDS
June 30, 2000
1
1
Series 1993A
Issued: May 1,1993
Year of 3.00% to 4.75%
Maturity Principal Interest
2001 -2002 $ 225,000 $ 26,994
2002 -2003 225,000 16,813
2003 -2004 245,000 5,819
$ 695,000 $ 49,626
1
1
1
1
1
1
1
1 65
1
1
1
1
1
1
11 1 11 06
1
1
Vie° _ mamma
1
City of Tigard, Oregon
1
1
1
1
1
1
1
1
1
1
1
1 STATISTICAL
1 SECTION
1
1
1
1
1
1
1
1
1
1
1
1
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I
1
1
1 CITY OF TIGARD, OREGON
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION -
I BUDGETARY BASIS
for the last ten fiscal years
1
I City -Wide
Support
Public Works Functions,
Fiscal and Capital
I Year Ended Community Community Policy and Projects Debt
June 30 Services Development Administration and Other Service Total
I 1991 $ 4,347,338 $ 2,558,534 $ 281,180 $ 7,216,338 $ 4,157,959 $ 18,561,349
1992 4,520,483 2,466,774 1,157,205 4,001,522 2,643,174 14,789,158
I 1993 4,755,049 2,459,618 1,223,269 2,449,617 2,652,428 13,539,981
1994 5,088,712 2,641,694 1,317,972 3,604,930 5,647,732 18,301,040
1 1995 5,656,128 2,745,236 1,332,630 2,148,786 2,388,061 14,270,841
1996 6,073,218 3,230,316 1,482,194 2,895,552 5,152,515 18,833,795
1 1997 6,537,097 3,507,919 1,699,813 3,182,818 2,117,957 17,045,604
1998 6,973,417 4,072,109 1,914,207 5,084,190 2,171,542 20,215,465
1999 7,778,333 4,476,564 2,100,829 4,349,185 6,850,522 25,555,433
2000 8,322,224 4,738,142 2,287,819 3,902,719 2,699,338 21,950,242
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CITY OF TIGARD, OREGON
1
GENERAL GOVERNMENTAL REVENUES BY SOURCES -
BUDGETARY BASIS
1 for the last ten fiscal years
Fiscal Licenses Inter- Charges I
Year Ended Franchise and governmental For Fines and Miscellaneous
June 30 Taxes Fees Permits Revenues Services Forfeitures Revenues * Total
1991 $ 4,160,790 $ 1,179,833 $ 1,206,920 $ 2,379,431 $ 79,370 $ 259,497 $ 1,627,675 $ 10,893,516
1992 4,963,329 1,287,794 1,659,542 3,050,675 102,081 322,618 1,464,811 12,850,850
I 1993 5,493,516 1,320,686 1,682,341 3,073,728 301,569 316,947 1,599,480 13,788,267
1994 5,894,241 1,447,668 2,554,752 3,105,356 393,349 307,982 1,576,679 15,280,027
1995 6,107,116 1,592,707 2,344,386 3,350,614 418,965 325,970 851,444 14,991,202 1
1996 5,860,948 1,669,784 2,555,271 3,717,655 357,571 304,246 1,534,205 15,999,680
1997 7,699,435 1,736,933 3,746,604 3,834,114 798,129 397,637 1,632,664 19,845,516
1998 8,255,173 1,755,719 2,823,031 4,085,789 375,890 378,145 1,522,273 19,196,020
1999 8,617,809 1,970,740 2,780,779 4,715,386 449,997 390,967 4,082,654 23,008,332
2000 7,876,219 1,960,768 2,271,148 4,658,795 675,323 371,594 3,404,178 21,218,025
* Includes special assessments collections and private donations.
Information derived from Comprehensive Annual Financial Reports for all Governmental Fund Types
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t CITY OF TIGARD, OREGON •
PROPERTY TAX LEVIES AND COLLECTIONS
I for the last ten fiscal years
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Percent Percent
Total Tax Delinquent
Fiscal Total Percent Delinquent Total Collections Outstanding Taxes
Year Ended Tax Current Tax of Levy Tax Tax To Tax Delinquent To Tax
I June 30 Levy Collections Collections Collections Collections Levy Taxes Levy
1991 $ 4,266,155 3,918,774 91.86% $ 224,988 $ 4,143,762 97.13% $ 372,918 8.74%
1992 5,148,022 4,717,610 91.64% 228,047 4,945,657 96.07% 408,691 7.94%
1993 5,548,159 5,213,266 93.96% 260,368 5,473,634 98.66% 391,447 7.06%
I 1994 5,984,204 5,622,050 93.95% 272,191 5,894,241 98.50% 333,198 5.57%
1995 6,212,684 5,864,693 94.40% 242,923 6,107,616 98.31% 285,651 4.60%
1996 5,982,372 5,671,785 94.81% 198,054 5,869,839 98.12% 245,387 4.10%
I 1997 7,924,163 7,511,237 94.79% 167,262 7,678,499 96.90% 284,176 3.59%
1998 8,470,116 8,119,848 95.86% 135,325 8,255,173 97.46% 318,590 3.76%
I 1999 8,915,821 8,400,875 94.22% 227,801 8,628,676 96.78% 418,484 4.69%
2000 7,881,754 7,385,015 93.70% 270,169 7,655,184 97.13% 395,297 5.02%
1
Taxes are levied as of July 1 each year and are payable in three installments, without interest, on November 15, February 15, and May
I 15. Interest is charged at the rate of 1% per month on delinquent taxes. Tax liens are foreclosed after three year's 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.
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CITY OF TIGARD, OREGON 1
MARKET VALUE AND ASSESSED VALUE OF TAXABLE PROPERTY
for the last ten fiscal years
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Market Value
Fiscal
Year Public
Ended Real Personal Utility Total
June 30 Property Property Property Total Assessed Value
1991 $ 1,435,394,724 $ 115,983,044 $ 36,707,073 $ 1,588,084,841 $ 1,588,084,841 1
1992 1,755,342,623 114,457,543 40,526,271 1,910,326,437 1,910,326,437 •
1993 1,820,521,857 139,064,986 50,197,374 2,009,784,217 2,009,784,217 1
1994 1,972,696,888 142,496,210 60,467,981 2,175,661,079 2,175,661,079
1995 2,229,444,147 156,419,813 72,874,589 2,458,738,549 2,458,738,549 1
1996 2,499,277,057 164,967,611 70,968,422 2,735,213,090 2,735,213,090
1997 2,870,072,277 165,084,982 76,231,065 3,111,388,324 3,111,388,324 III
1998 3,122,530,514 205,073,620 97,363,138 3,424,967,272 2,711,669,298
1999 3,277,118,168 214,501,804 109,989,369 3,601,609,341 2,869,660,834
2000 3,592,171,408 225,516,583 120,517,828 3,938,205,819 3,033,029,082
All property is assessed as of July 1.
Assessed value, up until June 30, 1997, was defined as market value. A new property tax limitation known as I
Measure 50 passed in May 1997 which disconnected assessed value from market value for purposes of distributing
property tax levies. Measure 50 reduced assessed value for 1997/98 to the 1995/96 market value less 10% plus new
construction. According to the 1998/99 Washington County summary of assessment and tax roll, assessed values
for most properties are now about 80% of market value.
Source: Washington County Department of Assessment and Taxation.
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1 CITY OF TIGARD, OREGON
SPECIAL ASSESSMENT COLLECTIONS
1 for the last ten fiscal years
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Fiscal Year Current Ratio of Total
1 • Ended Assessments Assessments
Due (1) Collected (2) Collections Outstanding
June 30 to Amount Due Assessments
1991 $ 343,000 $ 279,468 81.48% $ 892,780
I 1992 427,000 288,574 67.58% 3,181,495
1 1993 408,000 688,664 168.79% 2,900,352
1994 193,000 186,036 96.39% 2,380,059
1 1995 208,000 146,548 70.46% 2,250,041
1996 135,000 218,667 161.98% 2,088,745
I 1997 145,000 353,977 244.12% 1,846,910
1 1998 275,000 173,947 63.25% 6,046,590
1999 1,565,576 2,056,305 131.34% 4,613,840
2000 329,174 971,414 295.11% 3,761,444
I (1) This amount is equal to the matured principal on Bancroft improvement bonds.
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1 (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.
I Source: City assessment records
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CITY OF TIGARD, OREGON
PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS
(Dollars per $1,000 of Assessed Value rounded to the nearest cent)
for the last ten fiscal years
Tigard/ Washington Washington
Fiscal Metzger Tualatin Beaverton Tualatin County County
Year Water School School Tigard Unified Rural Fire Rural Fire Portland Education Other
Ended District City of Washington District District Water Sewerage Protection District Community Service Taxing
June 30 Combined Tigard County No. 23 -J No. 48 District Agency District No. 2 College District Agencies Total
1991 0.55 2.76 2.94 14.60 15.82 0.11 0.25 2.41 0.91 0.25 0.57 41.17
1992 0.50 2.76 1.41 16.73 13.44 0.09 0.19 1.99 0.81 0.21 0.49 38.62
1993 0.48 2.80 1.42 15.95 14.16 0.08 0.18 1.98 0.90 0.21 0.43 38.59
1994 0.42 2.77 1.36 15.58 13.39 0.08 0.12 1.88 0.87 0.20 0 37.04
1995 0.25 2.51 1.27 13.88 12.41 0.07 0.07 1.76 0.82 0.19 0.38 33.61
y 1996 0.25 2.18 1.52 14.01 12.07 0.06 0.09 1.66 0.79 0.18 0.38 33.19
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1997 0.23 2.54 1.35 12.85 11.41 0.05 1.52 0.73 0.30 0.83 31.81
1998 0.27 3.12 2.60 6.60 6.16 1.54 0.37 0.78 21.44
1999 0.28 3.10 2.57 6.65 6.17 1.53 1.15 0.35 0.81 22.61
2000 0.21 2.59 2.54 6.31 6.19 1.56 1.29 0.36 0.70 21.75
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. 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.
All operating levies were converted to a permanent rate by the passage of measure 50 in 1997. Permanent rates can not be changed. Prior to Measure 50, rates were dependent on both the levy and assessed
value.
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.
NOTE: - Not all taxing districts are charged on each parcel of property, actual rates on tax bills are a combination of the above depending upon the location of the parcel and the school district and sewer and water
district boundaries. Total overlapping tax rates for property in Tigard in 2000 ranged from $13.63/$1,000 to $14.03/$1,000.
Source: Washington County Department of Assessment and Taxation.
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1 CITY OF TIGARD, OREGON
RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE AND
I NET BONDED DEBT PER CAPITA
for the last ten fiscal years
1
1 Gross
General Ratio of
Obligation Less Debt Net Bonded
I Fiscal 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
1991 29,652 $ 1,588,084,841 $ 13,304,000 ** $ 345,050 $ 12,958,950 0.82% $ 437.03
1992 30,835 1,910,326,437 12,595,000 ** 620,597 11,974,403 0.63% 388.34
I 1993 31,271 2,009,784,217 11,671,000 ** 830,080 10,840,920 0.54% 346.68
1994 33,802 2,175,661,079 9,878,000 ** 611,481 9,266,519 0.43% 274.14
1 1995 33,744 2,458,738,549 8,385,000 ** 422,107 7,962,893 0.32% 235.98
1996 35,021 2,735,213,090 6,795,000 ** 387,102 6,407,898 0.23% 182.97
t 1997 35,925 3,111,388,324 5,125,000 ** 4,514,054 6,407,898 0.21% 178.37
1998 36,680 2,711,669,298 3,360,000 ** 206,712 3,153,288 0.12% 85.97
t 1999 37,200 2,869,660,834 2,991,249 ** 792,529 2,198,720 0.08% 59.11
2000 39,672 3,033,029,082 2,442,075 ** 1,492,889 949,186 0.03% 23.93
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1 ** Excludes bond anticipation notes payable.
Sources: City budget documents, Comprehensive Annual Financial Reports of the City and Washington County Department of
Assessment and Taxation.
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CITY OF TIGARD, OREGON
COMPUTATION OF LEGAL DEBT MARGIN
June 30, 2000
1
ORS 287.004 1
0 provides a debt limit of 3 /o of the true cash value of all taxable property
within the city boundaries:
True cash value (1999 -2000) $ 3,938,205,819 •
General obligation debt limit X 3%
118,146,175
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Gross bonded debt $ 2,442,075
Excludable debt - Bancroft improvement bonds (1,747,075)
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Debt subject to limitation 695,000
Legal debt margin amount available for future indebtedness $ 117,451,175
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Source: Washington County Department of Assessment and Taxation
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1 CITY OF TIGARD, OREGON
COMPUTATION OF DIRECT AND OVERLAPPING GENERAL OBLIGATION DEBT
1 June 30, 2000
I Percent Amount
Applicable Applicable
Net Debt Inside City Inside City
1 Jurisdiction Outstanding of Tigard of Tigard
Tigard /Tualatin School District #23 -J $ 31,877,958 51.3250% $ 16,361,362
1 Tri- Metropolitan Transportation District 5,839,350 3.7133% 216,833
Port of Portland 571,120 3.3967% 19,399
I Metro 7,314,492 3.7447% 273,906 .
1 Beaverton School District #48 7,892,063 3.7500% 295,952
Portland Community College 2,253,690 4.8494% 109,290
1 Washington County 8,441,116 11.0987% 936,854
I Unified Sewerage Agency 82,715 11.9015% 9,844
Tualatin Valley Fire & Rescue District 1,305,877 13.5254% 176,625
1 Tualatin Valley Water (Metzger Bond) 1,352,513 60.9240% 824,005
City of Tigard 2,442,075 100.0000% 2,442,075
I $ 69,372,969 $ 21,666,146
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Source: Oregon State Treasury Debt Management Division
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CITY OF TIGARD, OREGON 1
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR LONG -TERM DEBT TO TOTAL
GENERAL GOVERNMENTAL EXPENDITURES
for the last ten fiscal years I
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Total Percent of Debt
Fiscal Year Total General Service to
Ended Debt Governmental Total General
June 30 Principal Interest Service Expenditures Expenditures
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1991 $ 3,034,760 $ 1,123,199 $ 4,157,959 $ 14,349,504 28.98%
1992 1,664,000 979,174 2,643,174 18,561,349 14.24% 1
1993 1,939,000 713,428 2,652,428 14,789,158 17.93% 1
1994 4,742,523 905,209 5,647,732 13,539,981 41.71%
1995 1,828,000 560,061 2,388,061 18,301,040 13.05% 1
1996 4,385,000 767,516 5,152,516 14,270,841 36.11%
1997 5,755,000 447,957 6,202,957 21,130,604 29.36% I
1998 6,390,000 406,542 6,796,542 20,215,465 33.62% 1
1999 6,190,576 659,946 6,850,522 25,555,433 26.81%
2000 2,487,352 211,986 2,699,338 21,950,242 12.30% 1
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Source: Comprehensive Annual Financial Reports of the City.
(1) Includes bond anticipation notes principal and interest. I
(2) Includes bond anticipation notes interest and certificates of participation principal and interest 1
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1 CITY OF TIGARD, OREGON
PROPERTY VALUE AND CONSTRUCTION
I for the last ten fiscal years
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t Commercial Residential
Fiscal Year Construction (1) Construction (1)
I Ended Number of Number of
June 30 Permits Value Permits
•
Value
I 1991 62 $ 27,985,499 268 $ 28,160,790
1992 37 31,498,832 218 24,259,243
1 1993 28 25,685,703 408 43,687,254
1994 40 63,946,411 683 62,765,587
1 1995 24 31,873,570 452 63,699,561
I 1996 37 34,644,201 496 65,935,382
1997 22 44,227,644 355 59,581,425
1998 28 45,381,833 147 30,720,243
1999 18 26,772,534 229 37,876,657
1 2000 22 55,244,410 198 (2) 37,202,497
1 (1) From City of Tigard Building Department. Multi- family permits are included in the
number of permits issued for residential construction.
I (2) Residential totals for permits and value include amounts from
Urban /Washington County as well as City of Tigard
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CITY OF TIGARD, OREGON 1
PRINCIPAL TAXPAYERS
June 30, 2000 1
1
Percentage
of Total
Assessed Assessed
Taxpayer Type of Business Valuation Valuation
Pacific Realty Associates Oregon Business Park $ 113,111,340 3.73% I
Washington Square, Inc. Washington Square Shopping Mali 83,555,010 2.75%
Knickerbocker Property, Inc XXIV Lincoln Center Office Park 60,712,100 2.00%
GTE Northwest Inc. Utility - Communications 46,030,230 1.52%
Spieker Properties Park 217 retail office center and
Nelson Business Park 26,977,160 0.89%
Portland General Electric Utility - Power Operations 19,505,400 0.64%
Portland Hotel Associates Embassy Suites Hotel 19,459,810 0.64%
Robinson Trust Scholls Business center 17,473,240 0.58%
The May Department Stores Co. Meier & Frank Department Store 16,293,210 0.54% 1
Sprint Spectrum Utility - Communications 16,200,080 0.53%
Total Principal Taxpayers 419,317,580 13.83% 1
All Other Taxpayers 2,613,711,502 86.17%
Total $ 3,033,029,082 100.00% 1
Source: City of Tigard Planning Department, estimated from Washington County Assessment & Taxation records. 1
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1 CITY OF TIGARD, OREGON
DEMOGRAPHICS STATISTICS
III for the last ten fiscal years
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Assessed (2)
Value Unemployment
I of Taxable (3) Rate
Fiscal Year (1) Property School Portland
Ended June 30 Population Per Capita Enrollment Metro Area
1 1991 29,652 $ 53,557 7,940 4.90%
1992 30,835 61,953 8,795 6.20%
1 1993 31,271 64,270 8,965 5.80%
1 1994 33,802 64,365 9,427 4.80%
1995 33,744 72,864 9,644 4.70%
I 1996 35,021 78,102 10,579 4.20%
1997 35,925 86,608 10,829 3.90%
I 1998 36,680 73,928 11,071 4.30%
1 1999 37,200 74,537 11,080 4.50%
2000 39,672 76,453 11,145 4.10%
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I Sources of Information:
(1) State of Oregon, Department of Administrative Services
1 (2) U.S. Bureau of Labor Statistics
(3) Tigard /Tualatin School District #23 -J - City student totals not available
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CITY OF TIGARD, OREGON
MISCELLANEOUS STATISTICAL DATA
TA
June 30, 2000
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Date of Incorporation 1961
Form of government Council - Mayor - Manager
Area (Square Miles - Incorporated Area) 10.92
Miles of streets 129.0 1
Population 39,672
Drinking Water:
Water Mains 200 Miles
Reservoirs 13
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Police protection:
Number of stations 1
Number of sworn police officers 53 1
Education:
Attendance Centers 15
Number of teachers 641
Number of students 11,145
Sanitary sewers 776,160 ft.
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Storm lines 496,320 ft
Building Permits issued (1997 -98) 220
Recreation and culture:
Number of parks 11, totaling 160.8 acres
Greenways 132.7 acres
Number of libraries 1
Number of volumes (estimated) 109,579
Employees:
Classified service (union) 198
Unclassified (non- union) 65
Information obtained from the various departments of the City of Tigard,
Oregon, and Tigard /Tualatin School District #23 -J - City student totals not available
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1
I AUDIT COMMENTS AND
DISCLOSURE REQUIRED BY
STATE REGULATIONS
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PAULY ROGERS AND CO., P.C.
w �= ® CERTIFIED PUBLIC ACCOUNTANTS
I • 12700 SW 72ND AVENUE • TIGARD, OREGON 97223
• (503) 620 -2632 • FAX (503) 684 -7523
October 17, 2000
1
AUDITORS' COMMENTS AND DISCLOSURES
Oregon Administrative Rules 162 -10 -000 through 162 -16 -000, the Minimum Standards
9 g
for Audits of Oregon Municipal Corporations, prescribed by the Secretary of State in
cooperation with the Oregon State Board of Accountancy, enumerate the financial
statements, schedules, comments and disclosures required in audit reports. Certain
required disclosures, statements and schedules are set forth in preceding pages of
this report. Additional required comments and disclosures related to our audit of such
statements and schedules are set forth as follows:
1 REPORT ON INTERNAL ACCOUNTING CONTROL
We have audited the general purpose financial statements of the City of Tigard,
Oregon, as of and for the year ended June 30, 2000, and have issued our report
thereon dated October 17, 2000.
The management of the City of Tigard, Oregon, is responsible for establishing and
maintaining an internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. The objectives of an
internal control structure are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against Toss from unauthorized use
or disposition and that transactions are executed in accordance with management's
authorization and recorded properly to permit the preparation of general purpose
financial statements in accordance with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or irregularities
may nevertheless occur and not be detected. Also, projection of any evaluation of the
structure to future periods is subject to the risk that procedures may become
�. inadequate because of changes in conditions or that the effectiveness of the design
and operation of policies and procedures may deteriorate.
In planning and performing our audit of the general purpose financial statements of the
City of Tigard, Oregon, for the year ended June 30, 2000, we considered its internal
control structure in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and not to provide assurance on the
internal control structure. Our consideration of the internal control structure would not
necessarily disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which the design or operation of
1 one or more of the specific internal control structure elements does not reduce to a
relatively low level the risk that errors and irregularities in amounts that would be
1 80
AUDITORS' COMMENTS AND DISCLOSURES (CONTINUED) 1
material in relation to the financial statements being audited may occur and not be
detected within a timely period by employees in the normal course of performing their
assigned functions. We noted no matters involving the internal control structure and its
operation that we consider to be material weaknesses as defined above.
This report is intended for the information of management, the Mayor, City Council,
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and the State of Oregon, Secretary of State, Audits Division. However, this report is a
matter of public record and its distribution is not limited. !
ACCOUNTING RECORDS
The City's accounting records were adequate for audit.
BUDGET TRANSACTIONS
Expenditures were within the authorized appropriation levels for the year ended June
30, 2000. However, the SW Dartmouth Local Improvement District/CIP Fund had a
deficit fund balance of $5,145 at June 30, 2000.
1999 -2000 and 2000 -2001 BUDGETS
The budgets adopted by the City for the current and ensuing fiscal year were reviewed
during the audit. Budget preparation and adoption procedures followed by the City
appeared to be in compliance with the Oregon Local Budget Law.
STATE HIGHWAY FUNDS 1
The City's compliance with requirements of Article IX, Section 3a of the Oregon
Constitution and ORS 294 and 373 was reviewed and the City appears to have
complied with the restrictions on the use of revenue from taxes on motor vehicle use
and fuel. 1
COLLATERAL SECURING BANK DEPOSITS
Collateral pledged by the depositories appears to have been adequate to meet
requirements of Oregon Law at all times during the year. Each depository is required
by ORS Chapter 295 to maintain securities having a value of not Tess than 25% of the
face amount of the collateral certificate issued by the pool manager, for funds
deposited in the depository in excess of the amounts insured by the Federal Deposit
Insurance Corporation. Deposits in the State Local Government Investment Pool are
not required to be collateralized.
INVESTMENTS 1
The City's investments for the year ending June 30, 2000 were reviewed and
appeared to have been in compliance with the legal requirements pertaining to the
investment of public funds contained in ORS 294.035.
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1 AUDITORS' COMMENTS AND DISCLOSURES (CONTINUED)
PUBLIC CONTRACTS AND PURCHASING
The City's procedures for awarding public contracts were reviewed and appeared to
have been in compliance with ORS Chapter 279.
INSURANCE AND FIDELITY BONDS
Details concerning insurance and fidelity bond coverage were reviewed during the
audit. The coverage provided appears to have met legal requirements. We do not
have the professional expertise to state whether the insurance coverage is adequate.
STATUTORY BONDED DEBT LIMITATION
The City's bonded debt outstanding was well within the limitation established by
Oregon Law.
OUTSTANDING WARRANTS
The City did not have y a e any outstanding endorsed warrants at June 30, 2000.
1 PROGRAMS FUNDED FROM OUTSIDE SOURCES
We reviewed and tested, to the extent we considered necessary in the circumstances,
transactions and reports relative to federal and state grant programs. The City
appeared to have appropriate procedures for making expenditures on behalf of, and
reporting for, such programs.
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41800 S10.1141
City of Tigard, Oregon
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