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CITY'OF TIGARD; OREGON- _
COMPREHENSIVE ANNUAL FINANCIAL REPORT
` 1w6i'Year-Ended June 30,'1092
: 'prepared by the C,ity:of:'Tigard .Departmerit of --Finance
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CITY OF TT GARD, OREGON
-TABLE .OF.. CONTENTS
F'
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INTRODUCTORY SECTION:
Letter'of`.Transmitt 'I - I-vIT'
'Ma or and C
i
y ty. Cou ncil, Members`
Or9anizat Z~ZL"em ion:ix.:llencn Financial Re
- ortrn
FINANCIAL"SECTION:
t
Re ort:of In
dee
` n • ntc ` A`
de counfants i . =t
;GENERAL- PUR06 tfINANCIAL STATEMENTS ' "Liftable" Firiancial-Statements)
Com Balance:,. (bmed heet:.- AlI :Fund Types and Account Groups: 2
b Combined'Statement:„of Revenues; Ex enditures and~•.- - TJ
Changes in Fund Balances =Alb G pvernmentat Fund Types 3:: T'
v
;combined Statement of Revenues;<Expendit`ures and.
h, n.e
C a P in: F i
s and B
g a a ces - Budget and;Actual :AII.Governmental.Fund Types'- 4' _
Conibined.Statement of Revenues; Expenses and -
(Changes-in RetainedF Earnings*/, und' Balances ,All f?ropnetar~ -.fundTypes
as
4. 4 5 . .
Trust Funds` i
Combined,State.ment of-.~Cash Flows--AII Prop rieta Fund Type
' =
. h! Y
Enter rise Funds
6
-Notes to'General'Purpose Financial Sfatemen't's _
• 7-20,
S.UPPLEMENTARY'DATA, (combining .and-Individual' F,, d and Account -
Group Statements and. other FinanciaiSchedules) `
-Gene'
Schedule of Revenues a4.60,enditures ; :Budget and Actual" r ; 21-
Spe 'ial.RevenueFunds „ .
(Combining Balance Sheet - 22
Gombinind.Statement-of'Revenues,`'Expenditure''s 'and Changes in'Fund:.Balances 23
• , r Schedules'of -Revenues':and, 6p"entlitures4==Bud et and: Actual- `
-Forfeitures from`Crriminal Activity,Fund` ' 9
State_Tax:Street,Fund y, 25,.
- ,Streets'SDC:Fund'
P
.arks SDC:Fund::'F
GountY• Road Lev Fund , '
Y 28
Y •
,Gou rn Gas -Tax 'Fund = 1' '
Trafficam •act_Fund
Water Quali &.QuantitX
: Fund
31.
_:Debt,Seniice FuncJs:
Combinin Balance Sheet
9. 32«.
4Combining,:Statemeni7of'Revenues,=Expenditures and :Changes in:Fund Balances' 33
-Schedule of'Revenues and Expenditure§,-- Budget'and Actual',.
r h fi
'Bond: Debt Service Fund: T34i
'Certificate of• Partici `ation.`'Debt:Service Fund'.:
I?. 35
Ba' h r
c off_,Bond Debt rvi ,-F
$e ce, and 36•'.'.
_ Capital. Projects Fund:'
. s 37`.
:Combihin96 Balance Sheet
Combinin Statement:of Revenuet Ez
9. s; pendilb -,.and .Changes in Fund Balances' 38
Schedule'oVRevenues;and-'Expenditures.: Budget'and Actual:
.LO`cal•Improvement Caital,Pro'ects`Fund' -39
Road:1m rovement Bond Fund'
Park L'
e Caoital: lrhbrovembn `F ri
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CI fY OF TIGARD;-OREGON
.TABLE OF'CONTENTS'•- continued
.a Pane
FINANCIAL- SECTION;_continued
'SUPPLEMENTARY DATA (Combining, and Individual Furitl and'-
Account Group Statements -and Other Financial Schedules,' Continued)`
Ente'rpnse .Funds:: ;
Combining, 13alanc6~Sheet 42
.;Combining Statement of °Revenues;:Expensesand Changes in:,Retained. Earnings. 43.
Combining Statement of Cash. Flows 44
Schedule of Revenues and, Expenditures Budget and'Actual:
Sewer. Fund` 45
' , Storm: Drainage';Fund 46,
FiduciaryFunds:
Combining balance Sheet 47: -
' Statement-of`Cha'nges in Assets'and;.Liabiiities.-
Agency,:Fund -.,Deferred.Cb mpensation Fund 48
General Fized,Assets Accounf,Grou: f .
. Schedule` of 'General Fixed: As"sets .By Sources
Schedule of Changes in General Fixed; Assets - By Sources° = 49 .
Schedule of.General_Fixed Assets -;By Function and.Actiwty. 50
Schedule of; Changes in,General-Fixed,'Assets "By Functionarib Activity, •51
Other Schedules::
Schedule of Property Tax Transactions and Outstanding Balances. ,52-,..
Schedule of•Bond ,and, Bond Interest Transactions 53
Schedule-of' Future.Debt Service.-Requirements of Bancroft' Improvement Bonds " 54'...- f. '
Schedule of.Future'.Debt Service Requirements-of:General Obligation Bonds 55
..:STATISTICAL SECTION-'
General Governmental Expenditures by,Function,-
_ Budgetary Basis for';th& last ten .fiiscal; years. 56 `
General Governmental Revenues by. Source' -
P
Budgetary'Basis- fo.rµthe last ten, fiscal ,years 57
Property Tax Levies and C61lectiohsw- for the last ten fiscal-;years 58
Assessed ,and Estimated :Actual Value ,of Taxable
Property - for-the last-;ten fiscal years' ~ 59
t 'I roperty`Taz Rates,- Direct;and Overlapping-Governments
-r• „ for. the =last-ten fiscal, years i .60
Special,Assessment Collections'- for the last ten fiscal years 61 ;
Ratio of.Net General Bonded Debt'to Assessed Value and
Net l3onded Debt.Per Capita for,the last ten fiscal years
Computation of. Legal Debt Margin. 63
Cornputation of .Overly 'in °General .Obli atiin', Debt. _ `64•'
PP 9: 9 _
Ratio:of,Annual'Del t Service Expenditures.forLong=Ter
r Debt to Total General 'Governrnental', Expenditures
for.the last ten fiscal years ,65
r .
Property .V,alue,:'Construction. and Bank Deposits ; ;for the, last ten fiscai years 66
` Principal' Taxpayers - Y 67,:
Demographic • Statistics: 68
Miscellaneous Statistical :Data. ; 69
AUDIT COMMENTS;AND DISCLOSURES REQUIRED' BY STATE !REGULATIONS-':
Introductory;Comments 70 4
Internal Control. Structure _ 71
Other C.omments.,and Disclosures 72
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I CITY OF TIGARD
OREGON
_ Octotier.l ,1992 ~ . - r`.. - • . •
Wonorable'Mayor'and`Members'of the CityrCouncil.
. City' of 'Tigard; :Oregon
Submitted herewith is the Comprehensive Annual'•F'inancial Reportof the'City of Tigard.'(the.Cityj for`.the--
-fiscal`year:.ended.June.'30,, 1992: This report was prepared'; by;'the . City's Finance department.=
J -Responsibility'.for both the. accura " of • the presented: data and,'the< com Pleteness • drid'faimess- of
~v
presentation, including all:dsclosures, rests:with thie .City., 1Ne'believe the data, as presented; is accurate'
in all material respects and is presented in a'rriariner designed to:fairly set forth the financial position.and .
M f results of=operations of'the various funds and account groups of the City. _All;disclosures,aecessary to
enable•the reader. to gain:the maxirnum understanding of the City's financial activities have be
en included;,
The Comprehensiye'.Annual Financial,Report;is presented: in -three- sections'. introductor Jinancia,; and:"
statistical ,The introductory section includes this transmittal letter, the City s'organizational:'chart and a list
= = of principal off icials. The finaricial• section includes the. general purpose financial. statements-and the.'
' , . `:corTibining and,, individual:fund .'And 'account group:f inancial_statements,and~ schedules' The;statistica['
section includes, selected,financial and`demographic information;.generally presented on'a.multi=year basis.
This:report 'includes ,all•.turids. and. account groups of-the' City under the direction i,of the City: Council: -The
City ;provides'a full range.of services including police`protection; sewer, storm drainage, streets and pafks
repair, and maintenance; community planning and .building, inspection;, and infrastructure' improvements.
Tigard/Tualatin,School District, Tigard Water District, Tualatin ValleyWater District, and the Tualatin Valley,
Fire, and, Rescue: District have not met'th'. -blished criteria for inclusion in this, reporting entity,'and' ; 'esta Accordingly are` excluded` from this report. -
ECONOMIC CONDITION AND. OUTLOOK
The City,ofFTigard is located in' easterri=Washington Countyjust•12-rriiles:southwest-of do ' htown Portland;
Oregon.. Tigari has. been one',otthe~fastest:growing cities in Washington'County•and;;.with apopulation-
:r of approxirnately 33;000, is.ahe eleventh largest city i
n;the State: ,
,
-Over ,the, pastaeyeraI'years com, hie , rciaI and residential development has tieen'steadyrand strong. The'
current fiscal year however`saw;:a decline'in.developrOent activity.due.to the..Gu.f'war.and"the:ensuing
recessionary, economy. -There Were 218'single and multi=family'residential.permits issued in 19.91%92 along
with:37 commercia industrial permits.with a total value`of'$55;758;075:'Although:residential development;
was 'down' significantly. from last year; commercial development activity, continued •to be-strong
13125 SW Hall BNd ; P.O., Box 23397, Tigdrd, Oregon •97,223 •(503) 639-4171
vJ' ,
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Tigard's proximity to`ttie' Poitland MetropolftIn:area., provides _its citizens with:many- diverse employment `
opportunities:. Over:74;0,00 jobs are,located w~thm aten minute.drive:frorrt'.Tigard The:unemployment`rate,`
' m.,the'Portland;Metropolitan area average6'6.2..percent during the, fiscal year.
Tigard's'assessed-value of $1;910;326;000-is':tW,ice.-the'amount.itw'as.just seven yeas ago... •This`dramatic
-
growth in values tog ether with :prodent fiscal. management has allowed the City . to p..,- rovide 4uali :services "r ,
- , . , tY .
9
at 'a very low tax, rate, The
total rate resufting,from,city levies in:1991192 wds,$2.76/1,600 assessed
The economic,outlook -for the City'of;Tigard remains•,good.. The`City:,has cdhtinued-to 'experience'growth i,
:in most, areas including-the local economy., population', assessed value., and commercial development., The;
recessions national -econom has, si nificantd : slowed residential develop ment and is ex ected to, have
ry y. g Y P
asimilar-effect on commercial development in'the'coming,fiscal-year.,
fiAAJOR INITIATIVES :
Tigari voters, m,November 1+988" approved a,tax suppoited.local, bond issue.in the amounfot $8,500,0001 V
to' fund cons ruction of a variety of. road and traffic improvements within,the City. over a three year period: ' , . s
The current:fisca Y I ear,was the.third-~of the three`years Over;$2,500000 was,spent during the;,year."on
,
related road=im roveme`nt`pro.1•e6fs.
.
P r
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` v 'five iiI 1 f r ea t' f
In'"September-1989;;the'voters of'Tigard appro ed a eFyea sea evy o $350,000.pe- y
' specific park ,land:;acquisition's•.and improvements: The City,sold.Certificates of-Participation in.theLLamount
of $1;260;000 in May 1990.01edging•tlie park seriallevy;for" repayment..'The pr'oceeds'of~the, Certificates'
of Participation will .fund tfie.Park.Im'"rovements'seheduled~,tor:be.com leted' Within: three, ears:-,-.Over _
p .fund p y
$400;000' was. pent :during aFie .year dn. 'sped is Park. a ` ital' I mproVemenf'Projects.;
The' Pacrfic Corporate, Center: Local ` Improvement District 'project, Which.-:be gan last. 'fiscal; year; .was
'sale of`$2,244,000
'completed in June 1990-`The-interimrfinancing„was paid off'bythe:proceeds of the
Bancroft Bonds, The'project included, the construction of',street,'sew,er,,,and storm deainase improvements . ' _
between-Bornta and,Carm,en Drive adjacent to Interstate 5 and 72nd,'Avenue. `The improvements allow the
development.of approxirnately,40.acres of commercially zoned land:'::The development is slated to:include .
`a, hotel., athletic club,:medical facilities,: re§taurants; :and'a:varietya of:other commercial facilities: ''The first`
phase`of commercial'office! development:was completed•and.occupied during the fiscal year:.
' The Lincoln/L"ocust Street Local, lmprovement District was forrned''an&bdMd anticipation notes'were-issued. _
ti in :May'1990 fin the:amount-of $300;000 to-fund certain'street: improvements=adjacent.:to:an office building ; '
constructed by Trammel Crow. The.improvements were completed in 1991 Special;as$essment bonds
Jn'the amount"of $405,000 were issued rn=Septemb_er 1991r
' .Fiiscaf,yea~.1992'.wasahe'first fiscal yearof the five'year`financial plan which began,witl the voter approved;`-
taz'base-in,1990. A ballot'measu"re was:placedbefore.the.citizens of Tigard` h'N6vember,1990 to increase
the tax: base by<$860;000. to. provide"contjnued' funding. for the non4ee, services for the .next. five '-year.
financial; plan ,period.' -The 'ballot'measure. passed-with a.52% vote..
..On the 'same November, 1990'.ballot; Oregon`voters"passed a"-property tax limiton measure referred to•
• -as.Measure 5 This measure ,limits<non-school property;taxes to"one,Percent of assessed value beginning
July 1,:-1991. ` Afthbugh the aimitation' .Will, not in tially` affect t6rd'salready, low tax rates, the-.1992/93,` -
a 'budget includes ho: new positions;_oF'programs: , Some state .shaved `revenu'es could' be reduced in'•future `
,years:
` •,The:Dartmouth Street Local•.Improvement District prbject•has reached the'cbntract'bid stage> ~.This,Local :
Improvement .District-was formed in the early;1980s;. however; "due'to several lawsuits by: propertj owners,
improvements have. yet to be made:.' 'The legai' obstacles have," been `removed • and" it ' appears ''that.
construction could begin-'as soon as Spring'1993.; The•road-improvement ii1mportarit because it will.-
link-Interstate 5 with Highway 99 and will provide. access to over 300 acres of undeveloped commercially zoned '
property in the City: ;
- FINANCIAL INFORMATION
' .Maria g e'ment of "the~Cit ` is res `nsible for`establishin 'and maintaining an internal controls stein.desi ned
to-ensure that ,the"assets`of,the Cifyare p"rotected,from loss; theft o_ r misuse'and to ensurethat:adequate,
accounting data:istcompiled to allow for the•preparation of financial statements inconformity with generally
accepted' accounting-.principles._ "The;-internal control system is designed'to-provide reasonable; but not.` „
absolut6,- assurance that these objectives are met::. The~concept of reasonable assurance recxignizes that:
(1), the cosf o' f `a'`controi should•'nofexeeed the benefitsaikely.to- be derived; and (2) ttie valuatior of costs" r`
'and, benefits: requires"estimates an, judgments by management.;'.'.
BUDGETING `CONTROLS -
I`n additiori, the City maintains budgetary controls, the:objective of,which'_~'is to ensure corripli'ance with'legal` ;
provisions'in the. annual appropriated budget adopted' by the Tigard City, Council.` Activities of all'funds are
included- ih;Ahe 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:` The City, also :maintains an-encumbrance accounting system:-as one technique of
enhancing.budgetary•control., Encumbered amounts lapse at year end. However; encumbrances generally
are`reappropriated as part\of the following;year's budget:' _
;As demonstrated,'by the. statements and schedules included in thelfinanciaf secti6wof this'report,'the City'',
contiriu6s.to meet its respons'ibility'for_sound financial management:
GENERAL GOVERNMENT FUNCTIONS
iRevenues for gene ral'governmental <functions'(all-governmentalfundsj on; a;generally accepted'accounting`."
principles, basis, totaled., $1'2,850,850`"in fiscal' 'year,'1992, •,an• increase.",18 'P
. ercent :over last:Year.', The
increase,over last:yea,results-primarilyfrom'inereases in.tax revenues, f'ranchise` fees,tdeveloprnent'fees
and intergovernmental:.. revenues' netted- against: lower° revenues 'from; ~special_` assessments' and
miscellaneousa '`Revenues from various sources.and.changes from lasf'year are shown-below
of Inc(Dec) X 11=e66e;:
` Function Amount Total from F/Y199.1.'(D`ecrease)
Taxes` .$4,963,329 38.6%'. $ 802;539 19.3'/°
Franchise fees' '1,287,794 10:0 1`07,961;.: 9:2
Special assessments 288,574 2'.2 (8,894)
Licenses. and. permits.; 1;659,542. 12:9.. 452,622
Intergovernmental"revenues. 3;050;675 , 23:7.. = • 671,244 28.2.
' Charges for'services - ;102,081 22,711 - 28.6° T'
Fines and.forfeitures. 322;618 .2.5. 63121 24.3
Miscellaneous revenues - 1,176;237 9.3 ( 153'970 1.1.6
.S'.'
$ i'2'650 i5O 100.0% $1',957,334 .18.0%
Fes' ' l ~ } , r I n, tf 2 ' I
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Pr'opertyYtax `revenue, increased A9:3%.,ov-e'r'last''year. The faz base: levy, was'39:5%`.'higher•ihdm.the:'
previous .year's levy idue to'an $860,000 voter approved, increase.,,
Intergovernmental -,revenues; increased 28;:2% due.Ao, increased' .state gasoline':,tax. "distHtiutions,. '-and
"increases:in'vther state';revenues.tied'to population including"cigarette tax, liquor fax; and sta1e' revenue
sharing. ' Tlii increase can`aiso be 'attributed,to•higher hotel/motel tax-distributions:
.Miscellaneou5 revenues, consist largely of, interesYear`nings. Earnings were jets than}thee.previousyear du' O,, fo declining: balances. in the` Road-,Irriprovenient'Bond'Funtl`.as projects were comptetedaand declining
interest.rates.'A portion".of•such earn'ings' are-for future- rebate ao the Federal Government 6 accordance _
with the Tax Reform Act of -.1986
The following schedule presents a .summary of Program Facpenditures across all governmental funds `
including debt -service -for the :fiscal ,year,ended~ June 30; 1992, and the percentage: of incre
se: a
'and',:
ti l K
r i;.decrease in relation to the prior,,y:
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Dec)',
..o
Function Amount Total from F/Y 1991" (Decrease)
17,
Community services $4,520;483: .30,6%:. - ` 173,145 . 4.0%'-" Communit `develo • merit 2;466;774 16:7,• ~ • 911.6b x•3.6
r
Policy-ahd,admini I tion ;157;205 876025,. _311.6
• :f;. TCity wide support-functions,`- 265474 ;(118;554)' (31).9) -
Capital projects 3,736,0'48 25.3:Y (3,096,262). (45 3)`'
.Debt_•servic6, 2;643;1'T4 17:9, .(1•,5.14,785): 36.4
r % :$14;789-1.58•+ 1A0.0%. 3272191. `20:3
t : T:'
otal expendituresWdecreased over ttie:previous year, Nowever,:most decreases are atti&tabie to
ddclinin '.ex `enditures'•for ca Rai' im rovements in the'R'oad 'Bond and Park; : Ce. . Ca+ ital'Im rovement
9 P F P.. Levy P- P
..9, Pe es:, , . ~ ,
funds, and,declinin Debt Service ex n ditur
T~. i
.:t
e ncrease:-in'fhe-Policy--and; Administration -Program', is -,theresult'•of the reorganization of..sev-eraI
functions among; the 'operating :programs .The. Policy-'and Administration. Program now:',includes he
2 4
- ;'Departments of' 'Finance. and 'Administrative 3e'rvices: which.. were 'previously included m' Commurnty
_ Services. n _
;FUND BALANCES
.s
Total unreserved,fund.balances;of''the.City;were $7;066,207'-at'June.'30,-1992;"_.consisting-6f•_$1;991,782 -
in.the General'Fund, $1;428,974 in theSpecial Revenue Funds,,.$620,597 in the•Debt Senncb:Funds,; and
` - $3;024;854' in :the. Capital.-Projects Funds.
w'
The t _
~JI ;rota "s !rve•e ed'.an nr , rv~
d u d:tia a ce;i the Gene'ral:F.und`of,$2 210 835'-increased $345505;
from,
i 1..
4
t•
ENTERPRISE. OPERATIONS
The City's enterprise activities include. sanitary , sewer and storm'sewer operations. Although' the. Un'rfied
Sewerage Age, ncy (USA) owns:and" operates'sewageareatment:plants and sets the sewer rates, the City ; .
bills sewer accounis"and maintains all sewer lines;within the City,. The City also maintains the storm sewer
system throughout the City; and.charg6s' a.monthly~surfaces;Water'fee, each `'month at'a,- rate set by .fhe
ter, Management:Agency a'regional_entity"affiliated.witti USA:
Regional'Surface Wa
Sewer :'operating revenues ,derivod, from, _service charges amounted to `$969,,295.: Operating. expenses
aotaled'$912,902. resulting in-net income of $60,579 after'non ;operating interest revenues and operating
,
` transfers out.
;
Storm-drainage.reVenues,amounted-to $5.63;883.. St&rh,drAinag& operating expenses.'totalled,$634,468,`
resulting in. a'net loss of $69;925 after;non-operating;interest revenues; and operating`transfers,out.
':PENS109N TRUST''FUNDS`, .
Y ersonnel, mcludmgboth,
'
The CitY P'rd ides' a} retirement plan for, 'each' emP, "toYee 9' roup,:. Non=police p
,
management .and, non-management,-are -covered"by,an ICMA money. purchase plan:' •Effective'July 1,..,' _
1989, 'police personnel Were included in the State of Oregon, Public-Employes Retirement System.:ln '
` addition,`al'I employees have.theoption-to contribute:to An_ICMA deferred compensation program: The.
- ;money purchase plan is ' account. ed.,for. in - a 'pension, trust •fund`."'The deferred ' compensation;; Dian.. is.
Lr] , ,accounted 'for in an agency fund.
CA,'SH MANAGEMENT „
ing
Temporarily idle cash dur the.year was invested, in 'accordance with'the touncif approved investment
sitanker's.Acceptances; Commercial` Paper, U:S:.Treasury Notes, ' and the
policy`in Certrf'icates of Depo
State'of Oregon Local, Government Investment Pool: Pension trust funds are 'invested by the agents with
` which investment funds; have . been 'deposited acid- are therefore-. riot- included in the City's: investment ' .
-
activities
Results of investment activity,for. the fiscal year are shown'belowan comparison.with theprevious`•year:
1992 41991
Investment Income'
General .rund 131,341 ` $ .214,953'. -
Special Revenue'kFunds `59,947. 51.;302' =
Capital °Proiects "Funds 176,831 508,721
Debt Seniice..Funds 53,847 325,931
'Enterprise-Furids 119;546 ' 114,027
Pension Trust Fund 108,74'4. 84,260
650,256.'
"the objective of the City's investmenYpolicy,is to provide for the preservation of City, assets, to ensure that
. ;
;
such assets are Available to 'meet obligations. and to provide . for>a' reasonable rate :of -return on those
assets: _ ;
:RISK. MANAGEMENT_
~Thd.Cit'Y has tinitiated,.'a Risk Mana "emant.P' ram to include 're9•'ular-risk"cate9ories'such-as property ertY and '
9 9
liability ;as well as`Yllorker's Compensatioh'. Such eisks•are currently being insured by'third party insurance-
' r" companies; however, participation in, insurance..poos l and/or self,insurance is'. being;`discussed
;DEBT'MANAGEMENT
'-At. June.30, 1992 the.,C•ity, had the following:•Debi issues;outstanding; "
'General Obligation Bonds-
,$9,230,000:
_
' t
Bancroft; Improvement'Bonds 3;365;000 "
r
Certcates.of, Participation; 2 9641 05,000'•
B'n Ani i ati
o d t c on No
tes
c '
!k
$16,144
23"
5
The Certrficates.of:Participation'are foi park ':improvements and-are scheduled-to b6,repaid~over.a`five year.
' penod..frorn a parks serial levy:
The'State of- Oregon.mandates a"general obligatioh.d'ebt.,limif of 3 percent of lh,! cash yalue-of taxable ,
property within"the-City boundaries The limif totalled $57,309,7,93 at June 30,;1992: The`;City's'net'debt
subject to,ahis limit was $9;230,000r Bancroft Bonds are not subjectato the limitation $48,079793is.=
available: for future mdebtedne"ss ; f
The .C°qty I-bo b `ndrat' ing,frM ' s
- y om oody's Investment: Services on, its
`general obligation bonds-:was upgraded.
to Aprior to the issuance of.certaingeneral obligation .bonds.in. May_ 1989: " .
` -INDEPENDENT AUDIT
-Oregon State Law'requires,every municipatcorporation to submit an annual-financial report to, the Secretary
of State; to have itscom6ined financial:statements'ezamined 6y:anAndependent;certified put lic.accountant:: .
in'accordance:with enerall acce ted aud'itin'standards and Minimum`Standards:for Audits of `O`re on
9 Y_ P 9 9
Municipal•.Corporations as prescribed by the Secretary ofState in cooperation with the Oregon State Board,
.of. Accouritancyand to.have.an intlependent'auditor--express an opi n
ion.upon`the f,inancial posdion, results;
_ of o erations and cash:flows as re orted bY the rriuniciPal corpo ration forahe period under audit. The Cq'ty
P. P
is in full "cothpliance' With the aforementioned;requirements; and the' auditor's'.op_inion; has been .included...
in this report.: t
• AWARDS DS
F r,
o th ,I ` -•ni
east n n 1 i 1
e.co secut va r• h' 'h, e~ s:t e!Citas~received'the Certificate,`of~A•chievemeritIfor'Excellence:in
Financial dportiri from the Govemnient, Finance,Officers Association ofthe lJnited' States~'and•Canada.
. 9•
: .
In order to 'be awarded,a Certificate; of'Actiievement for Excellence,•a :governmental -u,h must publish an ,
" BasilYreadable,and.efficientl or anized ,coin' retiensiVe annual.financial're rt,I at"confor to ro ram
Y 9 P Po P 9
r- standards: Such-reports musf satisfy ,both generally accepted accounting principles and:applicable legal
requirements # Ih our•opinion,"this reportconforms to these standards.
,f .
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A •Certificate•,.of Achievemerit 7 is - valid` for a ' eriod 'of one: ear. onl INe 1` believe that . `
P . X Y;.: our.'currentt
comprehensive •annuaf, financial:.report continues -to'meet: ahe ,'Certificate of Achievement,'Program's: , .
requirements and`we are. submitting it, to the GFOA'to determine its eligibility' for' another certificate: ;
In addition;,the-City also.:received'the,GFOA's Award for Distinguish`ed'Budgef Presentation for its,Ias' five; - ,r-, ' .
adopted budget's:, :In orderto'qualify.for'the,bistinguislied. Budget,Prese 'Dion Award, .the government s
- . budget document-Was Judged to be prof icient.in several,categor es including,policydocument. financial:pian, ,
operations guide and communications.device: •
1, °
r, ACKNOWLEDGEMENTS N -
..V ..t ~i .5` , b, l
= The (preps"ration of the comprehensive a nnualefinancial rep_ ort was made potssible;by the'dedicated service, , -
of:;-the entire :Staff of . the Finance' Department:' °Each "member of the: Department- as• ourr'sincere,
appreciation for the contributions made in•the*preparation of this report µ
In'closing,:without'the'.leadership.and.support•of the'City`Council of the City ,of:Tigard preparation of-this.`
report would.nothave been".possi6le. _
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'Sincere) - _ . .
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, - Patric J Billy % s - Lowry.
;:City A ministrator.., Finance-Director' . "
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CITY 'OF:WARD.- OREGON
MAYOR'AND 'COUNCIL_,MEMBERS AS'.'OF. JUNE 30, 1992
.Name - Term 'Expires
Mayoe:Gerald R: Edwards December,'3`1994,
10390 SVN. Meadow.. r -
.Tigard; Oregon ':97223 _
r ,
Councilman Joe'Kasten.- Decem6ee.31,'1992
-9685,SW Ventura' Court' .
Tian ' Oregon 9.7,223
Councilwoman Judy Fessler 'December 31, 1;994 ; y
11'180 •SW. Former ` ' - 1 , •
Tigard,, Oregon `97223
. Councilwoman Valerie Johnson December, 31, 1992
12265,SW Walnut'
-.'Tigard, Ore gon, : 97223
' Councilman J6hri:SchWartz December 31, 1994' .
15900 SW 76th
Tigard, Oregon 97224..
Patrick-J: Reilly,; City Administrator
1Nayne'Lowry; Director of;Finance
Ma• °E.` Gruss' -Accouritin Maria' er
~Y 9. 9
' LEGAL COUNSEL '
- 0'Donnell,'Ramis;.C~ew;'&'Corrigan;
1727 N.W.,Hoyt
Portland, Oregon: 97209
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Certlf icate of.:
-Ach-levement'
:Ex i1 ,-1 .5
for ce e ce
1n.- Flnanclal,; r
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Presented: to
Clty_• of Tigard;
Ore •on_
For :its -omprehensive.Annual' " y
:Financial Report
forFiscal Year 'Ended
r Juhe"' 30'1.991 "
.A .Ce'rtificafe of Achievemen_tlor Excellence in Financial':
Reporting is presented;byahe,Government' Finance; Officers=
Association.of'the United States and. Canada to,
'government units and public employee retirement
systems,wliose comprehensive annual .financial.'
reports (CAFRs) achieve .the highest`
standards in government accounting
' _ and=:financial reporting.
IM STATU
AN f
g CORrPORAi11N . s President . `
S]EdII oti
Executive Director
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.REPORT OF INDEPENDENT ACCOUNTANTS'
Honorable' Mayor and Council Members':
:City, of Tigard
Tigarci, Oregon :
We • have a'u'dited. the general..purpose financial, statements of: the :City of',Tigard Oregon:,as.'of and; for the year ` a
ended June 30;''1992;, as listed in the table of -contents: These generalypurpose'financial statements are the
responsibility of the Citys management: Our.responsibility, is to express -an opinion on, these general purpose
inancial;statements:based ro•ri our-audit.
We:conducted'ouraudit in accordance with generally`accepted auditing :standards.and the,Minimum Standards for
Audits for Oregon ..MunicipaF Corporations: Those standards require1 at we plan' and perform ttie '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, in the "general
purpose financial- statements.' An ,audit 'also includes assessing;the; accounting principles used and sighfficant
estimates made by,management;-as.weli.as evaluating the overall general purpose financial statement presentation: "
We believe that ouraudit .provides areasonable basis ,for, our:opinion;
In-our,opinion, the generalpurpose;financial statements.referred to 'above present,fairly;:in all.material;respecis,
the fmancial.posttion of the.City of.Tigard,'Oregon as of June,30, 1.992,;a6d`the results. of its operatioris.and cash: .
flows. of its Ente rise Funds for-the yeat then ended in'conformftywith 9. eneralfy P 'acre ted accountin rinci les.
rP 9P P
Our audit was made for the purpose`of forming an:opinion,on•the•general purpose financial,statements referred
to above'. `The combiningand individual fund and.account,group financialstatements and otherfinancial"schedules . ;
listed as supplementary data in'the table of contents are presented forpurfioses.of additional analysis and are,not
a. required part ofthe -general purpose financial statements of the City'of Tig'ard,- Oregon. Such information:has'-
, been subjected to_the auditing procedures applied`in the audit of the generalpurpose;financial statements and, in ,
out,opinion, is.fairly presented in all material- respects, in-relation to,the general purpose financial.statements taken;
As al.WhoW,,
The'otherdata included in this report ; 'designated as the. statistical, section in thetable.,of contents; has not been
audited by iis;and, accordingly, we. express no opinion on-such_data.-,
YBRANDY.
r cooPERs &I
• _ •
, , JohnI; -Dethman, a'.partner
Portland,: Oregon -
September 16, 1992: except for Note 8
as to which.the date is October30, .1992:.
- 1^ ' f j
Dt 'a•' ~ .
CITY OF TIGAR
COMBINED BALANCE SHEET' `
t' - :ALL-FUND'TYPE$'AND ACCOUNT GROUt?S'
June 30,1992''
Governmental Fund•Types
- Special = Debt
ASSETS - ' General 'Revenue, "
.,ti. `Service:
Assets.
Cash
and InVeStments
47$19;3g5
'1'488
OYO
• -585 7` 4
Restncted cash & investments: 4
Accounts receivable
93119,430
ProP,enry taxes, receivable 276'
843
.t ;13.1.848
_
merit liens• receiva h
ASS@SS
b
.2,890873 ,
Accrued ,interest on delinquent asssrrients' 52;498'
Pie aid insurance:
P 80;623
Inventory of gasorine'and 'parts _ :18;430
Flxedtass@tS' net
Amount available.for;bonded,debtaervice
< 'Amount to be. provided. or retirement of, -
eneraflon =term=debt"
9 9_
Total Assets - '$3',188,931' $1; t' .$3,660,9607,440 89'
LIABILITIES; FUND EQUITY'AND'OTHER.CREDITS.t.' }
r.r
- - -Llaliilities. '
Accounts 'and accrued liabilities = 699'892' 61,7 t9 - `"2
_ payable 044.'.
Deposits, 67; 284
' - -
`Defe _
rred revenues: ,
L
a f• _
iProperty taxes 2.10,920' 104,309
'Assessmentlions receivable ;116,747 ' 2,884;007• j'
Accnied:interest on.delinqu`ent'' -
r
assessments
50 026
Certificates of.'I?articipation" Y.=
Acc Ued.vacatlon payable
Deferred 'compensation payable
: Bond anticipation notes payable '
Bonds payable
Bond arbitrage 'rebate liability .
.Speaal assessment bonded debt f'
with 'government commitment .r
Total Irabilities• 978,096-
178466 .
3040,386
Fund.Equity and ou,er Credits:, -
Contributed, capital
Investment in"general fixed assets T' -
,-Refained earnings 'Fund balances:
Resew
ea for °e
pr paid~insurarice • .`80623
Reserved for inventory
f 8430
,
Reserved for`lib o tioris^ ~t .
Y, p 120000.;
i ' Reserved for employee retirement benefits
Unreserved'and. designated for, debt` '"entice . - `
`Unreserved 620,597
and undesignated. 1,99U;782`, ,1;428;974-
To
' ,
tai fund E u
- 1 ••'and,.Other Credits -
q tY. `2,2]0,83`5.1,428;974 620;597.
Total Liabilities, Fund. Equity aand. Other 'Credits
, $3,188 931 • $?1,607,440 ; $3,660,983':
The'accompanying notes`are,an integral part
:,of the: general purpose financial state'ment'":
ProprietaryFlduclary.:. .
Fund Types' Fund Types . Account Gioups. Totel
Capital - Trust General` :General Long- (Memorandum ,
Prolecta Enterprise and Agency Flxed'Assets Term Debt, OnIY).'
$3;094;304•,, : $ . 876,785 $2;512
,660 $ $11,276;918 !
1,590;312 1,590,3x12
79 383,459 596,608
_ 408;691
9;479 ! ' 2,900,352
52,498.
=.80.623
_ 18,430
- 8,979,245. 8,208,120 17,187,365. •
f , 620,597, 620;597
- 15,923,933• 15,923;933
$3,094383, $11„839;280 $2,512,660" $8;208,120 $16,544,530 $50,656;327
n'. '777777
69,529'' `$;:;631,399 $ $ $1464583
67,284, .
~ 315,229
r 6;814 ' 3;007,568
50,026
905;000 905,000
14031 " .284007
298,038 '
898,065 898,065 ,
` ' % 4644;523 - 2,644,523
" 9,230,000 9,230,000
' 1.16,000 r: 116,000
3365 000 3' 00
365 0
:69;529 652,244 898;065 , 16,544,530• 22,361;316
9,362,854._ 9,362;854
8,208;.120,: 8208,120
1824;182 1;824,182
80,623.
18,43,0
120;000
1,614,595. 1,614,595
620,597,'
3 024;854 ; 6:445,610
3 024,854'.'% 1 1"187;036 1,6.14595 8,208,120 28;295,011
$3,094,383 $11,839,280 $2,512;660; `$8,208,120 $16,544,530 $50,656;327.
,
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w~ :CITY OF TIGARD, OREGON
COMBINED STATEMENT OF. REVENUES, EXPENDITURES AND CHANGES
."IN FUND:BALANCES=:ALL•GOVERNMENT FUND.TYRES
for the fiscal 'year 'ended June 30; 1992' " . -
Total
Spatial-- Debts' • - Capital (Memorandum'..
_f General Revenue Service Projects Only)
` Revenues:
Taxes' =$3;446,324 $ $1,517,005 $4;963,329
Franchise foes 1287,794, 1,287,794
Special assessments. 288,574 288,574
Licenses•and permits 812;322' 847,220 1,659,542
Y
lriter'govemmental revenues' 1;587,773_` 1;422,2.03' 40,699 3,050,675'
Charges for services 85,936 16,145. •102,081 ,
Fines and forfeitures, 322,618. 322,618 }
. Miscellaneous revenues;
pnmanly interest 284,276-, 115,722 310,276 465,963- •1;176,237
Total revenues `7 827043- 2 401,290,
2115,855 506,662, 12,850,850
Expenditures: = . .
Current;
Community services = 4 517,483. 3,000 4,520,483
Community development. 1,431,750 973,586,, 61,438 2,466,T14
Policy and administration: ' 1, 072,616_. 84;589' ' 1157,205
City-wide support functions- '.227,869' „ 37,605 265,4.74•.
:Capital: projects" 231,820 458,432 3,045 796. 3;736,048:
Debt service:
Principal 1,664;000. 1;664',000
Interesf . 979,174 979:J 74
Total expenditures,,' 7,481,538 1 ^1,557,212 2,643,174 3,107,234 14,789,158
7
.Excess. of r'evenues' over,
(under) expenditures 345,505 „ 844,078 52( 7,319) 2 600 572) 1,638,308
Other financing sources,(uses): '
Bond anti cipation note proceeds, 2;644,523., 2,644,523 ,
' Bancroft bond proceeds 324,662',,' •8.0,138' '405,000'
:.Operating transfers in r 4781004 478004
Operating transfers'out 7( 0,300) 2( 93,004) ('363,304
Total other financing sources (uses) . 70 300 d,-.*~-_ 802,866 2,431,657 3;164;223
Excess of'revenues and ` - '
other.sources over ,(under), • i
;expenditures and other uses ~ 345,505 773,778' 275,547 (168,915) 1-,225,915 `
Fund balances.- beginningof year 1,865;330'F 655,196 f .V -345,050 '3,193769 6,059,345'
Residual-equity transfers in ! 11',440' 1.1;440
Residual equity transfers out b( 1,440) 1( 1,440
Fund balances _ end of. year $2,210,835 $1,428,974 $ 620;597 °.$3,024,854 $7;285,260';Y
The accompanying notes are an integral part`
of the. general purpose.financial statements. _
i.
I .OF•TIGARD
• C TY OREGON ` -
COMBINED STATEMENT OF•REVENUES. EXPENDITURES AND CHANGES
IN FUND BALANCES = BUDGE*-'AND ACTUAL ALL, GOVERNMENTAL FUND: TYPES • ' , v: r.'
for the fiscafyear-ended J66e.30, 1992
y J^ :GeneraLFund' Speclal:Revenue`Funds' - > Y
;Variance Varianc4
av
E orable
'F
avoretile
f`' "Budget ;'Actual `•(Unfavorable) Bud et'~ Actual. Unfavorable
9 (
Revenues.'
Taxes' $3;487 000 $3;446,324 $t"•(40;676) $ - $
Franchise fees 1,264000 1„287,794,. 23,794
,S- al assessments;
pea
s
:4
nses'and permits,: 840,400'' 812,322 28,078), 735;000 847,220.. - 1:12220.
66e.Intergovemmental~revenues 1,480,880' 1;587;773• 106;893 .1,456,005'• ' 1422,203; (33;802),- _
"Chargesforservices s 112,275" 85,936 (26;339) 162,000' 16,145` (145,855)
Fines and forfeitures. 250,800 322,618 7.1;81.8
4Miscellaneous revenues;
pnmarily,interest' 41.1;000 214',2'76:` t2( 6;724) 69,900: ' 115;722 45822
•'n5' v
Total: revenues'
-7,846,355 7,827;043 11,312. _ ',721422,905= 2;401,290 21615
: Y
:Expenditures:.
;r.t .
'CUrient: _ -
t-M
Community services: 41590,806. A. 17;483 73,323 6,083 3;000: 3,083.'
Community development..': -1630,25'2 1431,750.' 198,502..' J 007;656., . 973.586,
Policy and administration 1,,124800 1,072 616 ; 52 18.4 85 360, :84589; r 771
City-wide support functions , 257 045, ' 227 869 ` 29 ,176' `42 419. 37,,605 ; ' 4;814 M'
Contingency 492,000' 492,000, 226;349. 226,349. '
projects, 202;589 ={231,820. (29,231:). 1,822,66
2"' Capital - - _ -44432' ,1,364;230''.,',
Debt service:
Bond principal
Note<pnn6ipal.-
Certificates of
y t''
art iciP
y ation ring ' I'
P . P Pa ;
,
•J~I
lnte - . .
rest-
'Tota(ex nditures. 8.297'492 7481538 815
"
tie - , ;954 ;3„190;529 1;557;212,. 1;633317
Ezcess.of revenues'over
(under-) expenditures 45( 1,137) .:'345,505 796,642 (•-767,624)'_ 844,078 } 1,611,702
Otfier financin g sources (uses): -
Bond,anticipation note: proceeds- f..
Bancroft bond proceeds"
Operating transfers in=
Operating transfers out 70300 70 300
~
Total other finanan
:sources'(Uses) g :7( 0,300) 70-300
-777 -
Excess; of • ~ -
reV@nU
@S' ,
'y -
and•other sources'''
over. (Under). expend_ itures` F
' "and oiher'uses451',13 345,505 796 642 767624 =773 778`' 1' 541: 402'
Fund b"alanoes beginning of year 1,536,477 1,865,330, 328;853 761,624" 655,196 (112 428)
Residual equity transfer in
11;440 - 11,440
Residu''aj.equity transfer'out- , r > ~,S• a 11 446
( A.1 440
Fund. b; an
ces - end;of '"ear $1,085,340, $1,125,495'
31 Y , $2,210,835-.-, $•1;428;974: $ 1,428,974 The accompanying notes are an integral part
of the general purpose',financial statements,-
'4
1 .
`tip F.,•, ~ - ,
Debf Service Furida Capital
- 'Pro(ects`Funds Tota13(Memorandum OnIY)
Variance Variance Valance -
Favorable Favorable Favorable
Budget Actual'." '(Unfavorable), Budget' Actual.' (Unfavorable) Budget Actual.' Y(Unfavoratiley
$1,545;484: $1;517,005 (28,4,77) $ $ $5;032484' :$4;963,329. $ (69,155) _
11.1
.1,264bob' .1,287,794 23,794
?P7,473., ' 288,574 $1,101 202,473 `288,574 81,101
-1.'575,400 :.-,',.'l-,659;542..: 84;142
63,483'40,699! t (22,784) _ 3;000,368 3,050;675 50,307'
• ' F 274;275 102,081 (172,194)
250, 800: 322,61&
71, 818
278,79031.0276 W 31 480 `168,350 - 465,963 397;613 928040 1 17.6;237, 248,197:. '
2,031,747 .2;1=15;655 _ 84,104 .23]'833 506;662 274;829)* 12,532,840', ° = 12;850,850, 318;010'
4,596,889. 4,520463 , x76406
65,020 61;438 3',582 2;702,928 2;466;774': • 236,154
1,210,160 1157,205 52,955
299,464 265,474 33,990
AM; 19732 738;081 • . 738,081'
6,315,813' 3,045;796: 3,27,1,017,• 8,342,064-` 3,736;048 4,606,016 ;
1 152 000'• 1,•1.14000 38000 1 152,000 1,114;000 38,000 .
300;000_ 300,000 300,000: 300,000'.
250,000 ?50'000 250,000 250;000
996;615 ' 979 174 17 445 996,615 979;174 17441
2,718,347• 2;643;174', 75,:177; =.63818333107;234' 3,274,599 20,588,201 r;: 14789,158 '5;799,043.
'6( 86,600) 52( 7,319) 159;28.1.' (6; 50,0002 6( 00,572) 3,549;428 (:8,055,361,)' 1;938,308) - 6,117;053
2 500 000 2 644 523 144 23+ 00 0 3
5 c: 2;5 00 2,644;52 144,385.
'325;000. 324,862` - :"(138)' , 80;138_:`':
80,138 , 325,000 405;000`: 000
165;600, 478,904 292,404: '185,600 '4781004 292,404.
2( 93,0042( 93;400) 363,304 . ' 363,31
510,600 802;866; . ; 292;266.; 2;500,000 2;431,,657 r ; 6( 8;343): 3,010600 r 3;164,223 153,623 ' .
76,000) 275 547 ' : ;451 547 (3,650,000) 3,481 6,270,676
' , (168,915)-. ,085; , (5,044;761:) -1,225,915..
176,000:.° ` '345,050' ol6660 6 3,650,000 3,193,769: (;456,231) < :`:6;130;101. •6,059,345;••-: 70,756)
- 11;440 11 440•
1( 1:440). 1( 1,440)
%
$ $ 620,597 $..620,597 _ $ -.13,024,854' $3,024;854:.: $1,085,340 $7,285,260.',; ,'•$6,199,920 '
r it . 11 m .1 ^i ' ,
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Y
.
CITY OF.TIGARD,,OREGON `
.1 . , . . , . ~ I , .
COMBINED STATEMENT OF'REVENUES;,EXPENSES AND Y_b
CHANGES IN:RETAINED-EARNINGS/FUND BALANCES; - .
r?; 1;{' :ALL PROPRIETARY fUND.TYP.ES'AND SIMILAR TRIISl FUNDS PG: : .
, -
- -for the flscal.year ended Jurie=30,.1992. 3 .
11 w - • ,f .1
i
!To:tal
fi;
' Pension (Memorandum
- i Enterbrise. Trust' _Only)
.0perating -'revenues: .
I
S@NICe - es
t
1532741'-
i<
ar9 s' $ $ 1532 741-!.
.
',ti'
tiOr1S = ' ° r
I ,l ' ;,366;099.' 366 099
T', 'ntn . 'u
. nterest _ 108,744 •'108.744
la _
Miscel neous. ' 4371 ,437'
Total 'o
ratin' .revenues- 4
Pe 9 533,1:78`= 474;843, 2,008,021
.
O 'eratin ' Ex nses:
P. 9 Pe .
' i' '
f.:
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' -sand
wa9e.. ,
e~'n OS 257' xy: t•'805.'
-
257.
.
1
Contra d'services '14429 ~ 4'4 1"6.
. : 29 ; ,
Gene~al'and'administrativecand other ; .328,907', , 328,907.
Depreciation 398;777.4 : 398,777' ' -
Benefit a ts;and-withdrawal s - .
P Ymen • 73,593. 73,593:
~
' _ -h
Total `
operating=expenses 1';547;320 - 73 fi93 `V 620 963' F.
Operating income•(loss) (14 192), 401 250 ~u 387058.
is F 1
- Nonb ratin 'revenues ?
PQ 9 - ''t '.I .3
Interest 1.19.546 ; - 1'19 546
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Income before o 'ratin transfer'
P.. 9. 105;354;' 401;250 ,`506+,604 ,
Operating transfer`out 114 700 11( 4,700)
- _ - ,
•
_ ' Nefincome (loss),' - (9,346)' 401;250^ Y - `_'391:,904 '
if f,,.
P
Add de reaation on.fixed-,assets;donated "
or w
red from ca ital'contnbuti r
acq p ons
I. .1 . that reduces contributed capital • . - 235;068.. ` _ -235;068 ' -
'Increase"in retained earnings-` ;j ; .225,722'
: ' -401,250 626,972. `
.
-.ti , '
Retained jearnings,: beg. ' 4 i` _
• innin9 ofYear , 1;598;460i' '1.;213,345 f 2;811;805,
" ,t' :t
Retained earnings - end'of;year - $1;824;.182 $1;61'4,595 $3,438,777 ' '
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,CITY-OF ~TIGARD; OREGON' ,
COMBINED STATEMENT OF CASH FLOWS'
ALL'PROPRIETARY FUND TYPES= ENTERPRISE FUNDS
for the fiscal year ended' June 30, 1992'
•Cash.flows from operating activities:',-
0 =
perating'ioss ..(Y4,192).
Adjustments to reconcile operating loss „
to nei'cash'provided by operating activities:.
De reciation 3
98 777
Incr'ease,in'accounts receivable (117,919)
Decrease in due. from otfier funds 125;387
w- Increase in- accounts'payabl""rid accrued,liabilities 198,655
Decrease in• accrued vacation.' payable " ;(12,567)
Increase:in assessments receivable'
Increase in,deferred revenue 6 814 r
Net cash, provided by opeliatingractivities 575;476, -
- Cash flows' used in noncapital financing activities, l
`Operating transfers out `.114760
Cash flows from used in) i- Y
( ; cap tal and related financing`actnnties.
• .Capital contributions' -171,257
Acquisition. of fixed assets: , 275&917
Net casFi•used.in capital'and related fnariang activities: - , 1(4,660
Cash. flows' from. in vesting activities -
=lnterest:earnings ,119,546
Nef increase in cash,and cash equivalents 475,662
Cash and cash equivalents 'beginning of year, 1,991 435 .
Cash and cash. equivalents --end-of year $2467,097
The:accom`panying'notes are an integra1,part
ofthe general purpose financial statements
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' .7 NOTES TO GENERAL;PURPOSE' FINANCIAL-' STATEMENTS ` 1 s
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CITY OF TIGARD; OREGON.
NOTES,, TO,;GENERAL.PURPOSE',FINANCIAL STA3EMENTS
1. Summary'of:Slgnificant Accountind Policies:'.,*
,
Governmental Entities Included In the,t:ombined Financial Statements
The Cityis-the lowest levelof government exercising RoGersight responsibility for;all general governmental operations within .
As" 'a, result, -aI1'sign ficant.'activities and organizations. have- been ;included in `the combined :financial '
statements ,The following,criteiia,were established;to evaluate', the manf6station of oversigh(responsibility at the-lowest "
level -of legislative authority:
Financial interdependency The.Cit' ..responsible for its debts ',.and is'entitled to, surpluses. No=separate agency
receives a financial°benefftlnor imposes.a financial burden on.the,City
1 Election of the governing authority: The•locally'elected di' Council-is excI swely responsible•forfall public decisions
and accountable•for,the'decisions•its makes.
' . Designation of'managernpnt - The City nts the: manageme'i of the.-City: The.activities under ttie purview'.-.
i'
of,management'are within the scope. of°,tlie reporting entity :andahe management' is'accountable to the,City:Council
for the activities being managed. '
y:
revisions of the' .
Abilit to si n'rficantl , influence o' erations -,.,The-:C it Council has the statute 'authorit Y. under the.P.
g Y P Y. ry
Oregon:Revised,Statutes.to-signficantly influence:-operations.-.. This authority includes,:buf is'nd't;Iimitedto, adoption ;
of the budget, control over-;all assets, including facilities and properties, short-term borrowing, signing. contracts, and-.
developing.the programs to`.be.provided:
Accountabil Y for fiscal.matters= The:.responsibility and.accountability.over.-all funds is vested with,City Council.:-
There are, many, governmental, agencies including' Washington- County and ,certainschool, districts ahd:.,various'service
districts which provide. services'within the City.~These, agencies have`independently elected.goveming boards:and the City,
does`not'manifest"any''oversight.responsibility. ,Therefore; financial information-,for these ;agencies' is'not:included imthe, ,
accompanying:general`purpose•financial, statements: r
Basls-of Accounting t•
The =financial statements, of, the -Governmental Fund. Types'. are accounted.'ior'•`using 'a 'current financial resources . `
measurement.foduit. With this measurement' focus,, only.'currentassets and current-liabilities generally areincluded~on..the
combined balance -sheet: ` 'Qperating: statements of:'goverrimental funds prese_nt1 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 (Eriterprise'_.Furids)~'and'•Pension.-Trust•Fund','are accounted`for'!using `a; flow of-'economic''.
resources,:measurement focus...•;With this 'measurementipcus, all,assets;and, all liabilities.associated with the,bperation of:,.
these,funds are included,.on the combined aalance sheet
The Govemmental'Fund Types;and.Agency Fund are. maintained:on he'modified accrual basis of accounting. Under-the
m A fied.accrual basis,of~accounting,-re venues arereco rded; inth eaccounting period in which :they:become measurable. -
and:available, and'expendituresare.recorded at the time liabilities are. incurred,,`except'for
Interfund'transactions•for'_services.which'are recorded on the accrual basis. " x
- ; Interest on bonds payabld4hich is recorded on- its-.due date..'
Earned but-unpaid vacations which',are; recorded as expenditures to"the.extent they are expected 'to be liquidated with
' expendable•'available financial,-resources:
,CITY OF=TIGARD', OREGON'
t
NOTES•.TO.~GENERAL, PURPOSErPINANCIA( .STATEMENTS; (continued):
1. Surimmarv:of-Significant Accountind Policies cohtin-U'ed)1---_:',,',1,
Basis of,Accountln continued `
' . Revenues', which were measurable and av,.ailable :at June'•30, 1992 under the modified accrual basis of accounting were ash '
follows: „
State; county, and local ahared`~evenues for cigarette: tax; 'liquor: tax "and other.,
R",
rope
rt ytaz`revenues,-and.assessment;lien principal, installments which `are .collected'within'sizty,days followin.'g veall
end: h'
The Enterprise Funds and,PensionTrust Fund:are `accounted,for''utiliiing .the,accrual basis of-accounting. Under the '
accrual basis.of ,accounting,, revenues, are? recorded. at the'time they are -earned 'and; expenses are recorded at the, time
liabilities are incurred.
The. bases' of. accountin ` :;described above` are ci,accordance with.'9eneraii
p fed accountin9 PrinciPJ l.es:. _4
Y•acce
Total. (Memorandum,Onlvj Columns
e T ; otal' M m •r n ` rn nl ` I mn n ` min f' ' ' n r - f
7r . h mn r
( e o a du O y) co u s'o th e co b ed financial statements, represe t an agg egate-o t e co u a '
f ' statements by fund-type and accountygroup; they do:not, represent consolidated financial ;.f
information. r `
Investments`
' 4.
rket::
Investments,,,included rn unrestricted'and restrict Id:cash:and investments; are Carried at cost which"aroximates 'ma
r•. beferrred;Compensation Fund investments are:carried ,at-market Value:ti
_ZX
-Cash Eguivaients
r
4'.
For purposes-ofI e`combined:statement ofca8h.f64% all.•proprietary fund..types'.-Enterprises Funds, cash equivalents :are
` short, term investments with original:maturities: of ,.less.than.'three months:
Recelvables, .
Receivables"for.state, county;,and`local'shared revenues are"recorded as•revenue in-'thiD,Goyemrr4ritaf Funds earn.
Receivables,of'the_:Enterphse:Funds'are',recorded.;as-revenue:.as earned, including services: earned but not.-billed:
Property taxes receivable:forthe'Governmentai•,Fund-Types which hayerbeen collected_within sixty days subsequent.to"year
end, ;are; considered: measurat;le;and, available,<and -'are recognized.,at reveriues.::rAll other property-'taxes' are offset by `
deferred property tax revenues and; accor`dingly;4,tiave:not beer recorded:as..revenue.; Property:taxes become'a lien,and
. are levied on July, 1 Collection.datesare:November 15; February'. and.-May-15.- 'Discounts.areYallowed 'rf'the amount-
We is. received by November15.j;Taxiunpaid. and outstanding on,,May :16 are',consh red:delinquent: ,All propertyaaxes '
't ,
' . receivatile,are, due,- from property "owners within the•City: ;
ssessm
A ents ih'the 9governme'ntal,fur)dp' a' recd9,nized as receivables(at.'the,time`Fp
ropP"eiiyowners,are assessed for
.
'property.improyements. 'Assessments,receivabie.expected;to be collected within.sixty'days.after-year end. are considered
measurable and 'available 'andare `recognized as re,Venues:., All other assessments receivable are ,offset` by a deferred
revenue account and; accordingly; have not b
, een recorded:as revenue.
•~,Accrued-interesf -n'delinquent,aSS@ssmeht§ is.recOrded as 1 receiVable'and entirely offset by.a -deferredrevenue'account;-
and accordingly; has Ynot:,beerr recorded'as revenue,.. £
b,. a 8 `
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s' f~ITY'OF: TIGAf~DREGON
NOTES. TO, GENERAL.FURPOSE FINANCIAL STATEMENTS;,.(continued)z;
' . 1. ,Summa 'of'sl nlflcant Accountlri Pollcles: continued)
rv' ( . =
Inv n R
ent Iln 'a d
orv of Gaso a arts
Inventory: of gasoline and: parts Js stated 'at cost on. -first-in, first-out basis, and is charged,to expenditures as used.
Restrlcted Cash`and Investments
Cash and investments which may only be. used for construction'of;fixed `assets in,,.aecordance with. applicable' iaws and
:regulations_have been segregated from'unre'stnct'ed cash and. investments on'thecombined, balance sheet:=...;
Enterprlse'Fund FlxedAssefs:
, Purchased-,;fixed assets are, stated..'af historical cost or, =historicai. cost when historical, cost` is not.!availabl'e:
Donated, asset s; are re corded,atj air,market-Value :at,date.,of donation.' Estimated fair,.market''Value of donated assets is';
dd.based,.on engineering csti ates v, urre!yt'cost ra° price',indeked `cost:. I~e~reciation ~s computed on assets in."':
service; using the straight=line. method ,over their estimated:usetul: lives:,
Building` t "40 years
-Sewer System 40 years
Storm Drainage -System 4
. . 0: years
Equ'ipment 5 to 10 years , .
Autos and:;Trucks 3 years.
-.,Depreciation expense, on Iixed'assets donated or acquired from'-capital contributions is recognized as a reduction. of•
contributed' capital. Such reduction' is. recorded by a',.transfer from..retained earnings
• l♦° ` .r , ` rd 1.
.,Normal maintenance. and'repairs are charged to operations•as.,incurred. Major additions, improvements-and replacements`
are capitalized.' Gains`.or losses from sales or refiremerits'of fixed assets are included in operations:'
General Fixed Assets'
Gene
ral-fixed'assets are•stated, at'historical cost•or.estimated hi. ohcal.cost'when•histo'rical:'cost is,not-,available.- Fixed
assets. are chargedto' expenditures in, the Governmental FundTypes as purcha'ied and `capitalized,-in the General Fixed
Assets.Account.Group. Maihteriance:and repairs of fixed'assets a're'charged'toexperiddures in.the'Gdvernmental Fund.'.
Types as incurred. and are nof.capitaiized. As fixed:assets'are.d"isposed of, the estimatedihi"stoncal'cost or;historical cost
' is removed from'tfiis account. group;, proceeds from sales of. gerneraffixed assets.are recoirded`as General Fund'revenue.
Depreciation is not computed on genera l;fixed•'assets. ;
Expenditures for public domain fixed assets (streets; sidewalks; Curtis and gutters, lightingsystems and;`s'imilar.assets) that
"',are`immovable and'of,value only'to the City as a governmental unit are reported as expenditures'as:incutred and are not
capitalized.
r
_ ono-Term Debt
` , , l° ,.fir, n tf• "
.,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 an - property"tax: levies-and, are` recorded. in the debt-' ,
:'service funds~,.Certificates of participation will. bepaid, for by property taxes levied beginnino-in,fiscal.,1'991,and: payment..
will:be made from a debt:service fund.:Th`bond;arbitrage rebate.liabiiity will•be paid from a'caprtal:projects.fund., Bond.
anticipation'notes are expected to be paid from general obligation bond proceedswhen due.: Theaccniedvacation''lialiility
"will; tie paid :.from the-various-.goVernmental,funds:: The=.CiiV has no'long=term':delit in ,its enterprise.funds.'
- 0
w'ClTY'OF TIGARD,OREGON
NOTES TO'GENERAL"PURPOSE FINANCIAL STATEMENTS; (continued)
F
n
' 1. Summary.of-Slaniflcant'Accountinc Policles:, ,(continued) _
Accrued Vacct` lo y
ri.Pa ible
Accumulated.vested vacation pay°is accrued in tn'e' Enterprise'.Furids':as it is.earned"by employees:= In Governmental Fund""
Types the amount ;,'rf any expected to, be liquidated with,expendable.Available, resources-are, accruedas'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.notvest, is recorded in all funds~',when:leave.is,.taken.`'
Contributed-CaI 'l
- a,
r,
Cohtfibut6d'capitdCin.,the=Enterprise-Funds represents the'accumulation.of'cgntributions'in'the form of cash.o,r•other .,assets-~ '
which generally do.'ot have to be returned.to"the contributor.. Such contributions'are'•recordeddirectly to contributed capital' t,, ;
and,, accordingly; are•:n ' recognized as tevenue':: Ttie:following transaction's =are' recorded ~in'.contributed °capital=inahe,' '
Enterpr
ise Funds:
TReceipts of `federal and`stM& grantsior;;;acqujsitions•.nf,' fixed assets:
Fixed as'sets'contributed from other fundsor the. General Fixad.lssets'Account'Grou
p.
Contributions from others for th'e'acquitdion:or construction of fixed assets`.
:;Transfers,from.retained=earnings-fordepreciation on,fined asse.ts.donated or:acquited'by,contributed capital resources
t° Budget _
A bud et is ared'for.each•furid''exce t'for.;tfie. Fiducial Fund,`:Tes; in,accordance with the'. modified accruah;basis of
g. , P rep, , . P . ry . , yp
accounting, or,governmental funds,-theraccrual basis of accounting _for, Enterprise Funds, and in accordarice.with the legal
requirements set.#orth m,the ;Oregon Local'Budget,Law..:The`,o-rdinance authorizing 'appropriations for-.each'fund sets'the t
level by which -expenditures; cannot legally exceed-appropriations:,; Al prophations,are made, at.the major program Wel.for
each-fund: Appropriations lapse at the.end'of, each fiscal year The`,ptail';budget document;-'however, is required,fo contain,''~.'
more' specific: detailed'.inforrnation .for the, above=mentioned'..expenditureY categories:; Budget amounts, include ;,original:.: ;
Approved, amounts and all subsequent;appropriatjons,transfers approved by; the-City Council After budget approval, the
City•Council may; ;approve supplemental appropriations rf' an occurrence, condition, or''ne'e exists whichs, had.`not been.
- Iascertarned•at,thetfime the tiudget'was adopted:: Management maynot amend`tiie`budget,with out Council;approvaL; During.: .
",the' iscal>year ended:June 30,`1.992, several=appropriations,transfers.were made.
r
Thetbudgets for.each of°the governmental,funds~include capital 'outiay-expenditures::in each'' program'forcapital''outlay':J ,
applicable,.to thaf..program.,:Capital outlay expenditures benefiting the City and;not an. ident'rfiable program are reported
separately ;
" . , `
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' F TIGARD 'OREGON
_ ciTY r
`NOTES TO GENERAL-PURPOSE FINANCIAL STATEMENTS;"(continued) ,
2 Organization and Operatlon: ;
' The-6y'of• Tigard,,under its.Charter'of 1962`,'is•governed by-an,eiected mayor and four council-members who comprise
the City Council::The:City's financial operations are accounted for,in the following :funds and account-groups,'
Governmental. Fund. Types
General Funs fund accounts for the: City's general 'operations.' It is used to account for,all transactions not
ecif ically ;related to the City s other funds. - , Y
Special Revenue Funds: " z
Forteltures`.From CClminal.ActlVlty.Fund`.-This-#und accounts for.funds and property seized from-criminals
in..connection with:the. crimes committed:
: State Tax Street Fund'- This fund -acc~scnts; for revenue, > rF C , ,,ed ,from state gasolirin taxes which are lo' be
gon,,Artzcle IX,.Section•3.•
expended as.specfied`in1he Constitution of the.:State'of E?re
Streets SDC Fund ' This, fund accounts for, system development char s, tolie used for major repair and;
' .'improvement to extra capacity-str'eet facilities. ;
Parks SDCFund -This fund accounts foe's stem :develop meet charges for ma'or4im rovements, to. recreational '
.
f ili ie ,_witliin theCity •
' ac• t s -
County Road`Levy~Fund Tt is:fund accounts•fora special, one; time propert y,taz levy from.lNashington.County
for the maintenance and repair of` roads:.. This fund was closed during fiscal year 1991-92
County Gas. Tax Fund ,:This fund accounts"for road-"tax;. monies ~received'from`Washingtorf County for the,.
maintenance and operation of roads
Trafficlmpact.Fund =Thisfuntl accounts for traffic pact, fees charged for new development." .This-voter
'approved 'county=wide fee~takes the place of.the City's Street SDCFunds will be used for-highway and transits,
capital improvements'.approved: by the County that provide-additional capacity.to the ,major transportation-, ' .
• -system: • - = - . .
water .Quali'tYA& 6L'antitlFund'- This fund•accounts forfees charged on certain developments in lieu of on-site'': ;
surface water im rovements. Funds ;can be used. for surface water,drainae'im rovements.
p 9 P
Debt Service Funds: ;
Bond' Debt Servlce:Fund --this fund accounts for payment' of general obligation. bond principal and interest.
The principal source of revenue it fr0 in property. axes
Certificate of Partlcf ation Debt Seniice Fund -,This`fund accounts `for payment:of cent'rficate.of,participation'
principal-and interest: ,The.principal source- of'revenue isA m,propert y taxes .from a Parks serial levy.'`
Bancfoft Bond. Debt Service Fund This fund accounts for payment'of Bancroiimprovementibond principal
.'and interest The:principal'source of revenue'is`from'collections o'assessments~ag'ainst,benefitt6o property;':
interest, `and co ntnbutions,'from `other funds for their share of -costs:.
:CITY'=OF:'TIGARD OREGON
-
NOTES'TO GENERAL-PURPOSE FINANCIAL STATEMENTS, (continued)
2 Organlzatlon'and ~Ooe'ration: (continued)
Governmental-Fund Types:.continued "
r'• 1
Caaltal; Proiects -Funds:
Local Improvement: Capital Pr ' iecis Funds - This-fund.accounts forconstruction'of Local'Improvement District
projects from the sale .of. Bond- Anticipation Notes. and •certairi• other debt.
RoadY mprovemenf Bond:Fund = This:'fund'accounts for.the 'p'roceeds of t66 sale of bonds issued, in.1989 to
' fund,improVements to"segments of -tenm ajor streets:in`the City:.
Levy: f
'Capital Improve ment' Fund -This fund. accounts.'for4',proceeds from the sale of C
Park ertificates.of :
Participation and improvements to';Tidard's'park system:,:.
• s.
P'r_ ri`
o ` eta •Fund'T
- p N. YpeS'..
Enterprise 'Funds: .
$ewer Fund Th'is` fundaccounts for ttie'City,'s `sewerrutility`operatio,os.
Storm Drainage Fund - This fund accounts focthe di s storm drainage operations::'
Fiduciary% and Types: Y
Deferred Compensation Fund - This agency fund accounts'for monies,withheld from employees under deferred .
comOrisation' lans'and earnin s'on, investment of•those-funds
s
Pension'' Trust*. Fund, .This fund..acc'ounts for•theCi 's 'erieral. em to ' ee'defined contribution lans.:~
Account Groups'' -
General Fiked Assets'- This account group accounts fo'r the Oft 's investment in`fixed~assets' With, the exception of
_ - those assets: held.by. the Enterprise Furids.. .
General' Long-Term`' Debt :This account group -accounts for: general long-term indebtedness •of the City.'
3 .Cash and' Investments
Th6''bity; maintains. a cash -and investment ;Pool'' that is `available. for, use, by :Alf funds;.,:except 'th& Deferred: Compensation', - j
fbnd•ahd Pension,Trust` Fund:, Each.fund'type's;portion of this pool is displayed on the:combined, balance-sfieet:as "cash,
and:investments:"' The inv_estments•'of the` Deferred Cempensation F_und'and Pension-Trusi,F6nd are.heid= eparately from,'
.,those of other City funds.
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i
Cash and nvestments are-compM p Wised- of, the following at,-June 30 1992:
' Cash,on band Q@ 7982,
Cash -Weld by'Department of Finance, •Washingtoh=County,' S ' - 34,539
' Deposits, with financial' institutions = t 54;7,749;
- ; ; Investments;: :..x. 12276;960;
s. i2 672 '
A2`
~I
CITY .OF31GAR ; QPECON,
NOTES,, O GENERAL PURPOSE FINANCIAL STATEMENT$,.(continued) . : , .
'CasKand, nve'stments: '(cunt riuedj''
• Deposits . - - ` - ;
Deposits with ..financial institutions: include bank demand~deposiii and'tirrie~deposit accounts.; the 'totii bank balance~is "
:.$358,970.(book•balance is •$547,749), -Of these deposits, $100,000 was covered by federat"depositoryinsurance, and
',$258,970 was fully collateralized with`. securities held.by financial institutions•acting,as custodians for the City in they _ ity s.:" '
name: Oregon Revised Statutes require `the depository-institution'to maintam,ori:deposit;-with'~a collateral pool manager; ' ;
securities having :a,value not less than.25 percent of'the outstanding cert`rficates of participation issued:by. the:pooi manager. ` : ;
' .Investments - , • . -
State'statut es" uthorizeahe.,City to`invest primarilyin...general,obligations of'the'U S.Government;and its agencies,:certan
bonded obligations of Oregon municipalities;•bank repurchase agreements, bankers `cr'epianc& -r, ~rtain comrnerdial,paper,
'
' andahe. State'Treasurer's Investment Poolamong'others.-
Th6bity" investmentsare categorized below'to;give an indication of the-level of risk assumed-by:the City at June 30,`1992.
Catego'ry' 1rt includes investments thaf ,are',finsured or for which the. securities .are. held~byatie City in the: City s=name:
Category2-includes uninsured investments for.which,the.securi ties.are held in the, City's:name by the trust deparfinent.of,
the-financial institution selling'the•security~to the City...Categoy.3, includes uninsured investments-for which.the: securities
are-held by"the"financial institution seliing the se'curity'to.the Cny or by.itstrust department,~but-.not iri the City's name. The
City does not. use brokers'or dealersfor its investments: ;
Category. Car.rYIn9. l-, I -.t
1 2 3' Amount. Value
'7 -7
US Goverriment:Securities $480;665 $ , 480,665 ' $ 480;665
Held by custodians under . ,f
t deferred compensation,-and' ,
pension, plans- mutual ,
fund. investments ,2,512,660 2,512,660
State Treasurer's` Investment: `
P00 l; 9;283,635'' 9,283;635 -
'Total lrivestrrients °$12,276,960 $12276;960
4. Assessmeint'Llens,'Recelva'ble
Assessment ,iiens,.receivable representdhe uncollected ..amount. levied against, benefitted property for the `cost' of local
improvements. Be'cause.t. assessments are liens.a' ainst:,the be _
'g " ` nefitted property, aallowa'nce.for'uncolle'ctible amounts;
is-not deemed-necessary: Substantially all .as
, are payable over, d period'of* 20 years..Assessmenfs bear ;
Y. interest at.7., percent''4o-13-percent.=.. -he- portion of assessments -receivable balance"at -June 30;.£;1992,`.that'represent,
' delinquent accounts is $76,478. x
.r ` - J f0. a
13 _
CITY OF''TIGARD,.OREGON
NOTES TO GENERAL •PURPOSE FINANCIAL STATEMENTS; (continued) N'
- 5. Fixed .Assets
J
_ , Mfr
t`
..:Fixed'asset& in the En" e' Funds at, June '30; 1~992,;are•as follows::"
Land ; ` 2,484
'Building 5401-
53 -
Sewer,s in, 6 893 055
Y• z.'.. a. "
Storm drainsge•s`stem' 6321 39
, Y ,
t`
Equipment `105;283. -
ryr;
Aufos :and' trucks' ti . 458,82213,834,574
Less accumulated:dep•reciation: (;'-4;855,3291
r
:$_,8,979245.'
' s.
-Ji , -
Chan`es infixed assets n the General'Fixed`Asset-Account.Ge6u p for the ear.ended''June 30 1992 arej'as'fol~ows .
9 P X n '
Balan'ces' Balances "
June`30' 199.1 Additions Retirements June. 30, 1992'
Land 2:062 820 2 088`-> $ 2 064 908:: -
''Buildin
gs' ;3;449,220'' 279,374 3,728,594
:E u i t;m,.
V f•:
.107 e
67,737, t' S ` . 024 47 007 -627,754
-Auto, ~:and_ fiucks a- :825;484: 120,27_8. 14;802 930,960
?
Office,"equipment` 179;057 94:,920 .18073 855;904
$7684,318:` ``$603,684' 79882 $ 8;208,120.;•' ;
y
~y
•r
6. `Lone=Tenri-Debt. -
' 'B nd ~ P • . .
o s a stile
v
Bonds-payable'tr'ansactions for fhe.yearended June `30; 1992' and future maturities of:bond'`principal'and interest at June; '
30, .1992 are as
follows: `
. , '.Outstanding. Matured. Outstanding `
{ June:'30, and'Paid .4 June.30'`
1991 Durln' ::Year;=`r 1992.. interest
General. Obligation Bonds:
General obligation; bonds; interest _
rates.5:95%o to.:;10:60:' J z
Fsea( Year:Y., ;1992 1'15 600. $•:115`000
1993'695 0.00 "575 000.:` -120000 ` `619 845•
4- -
1994 83Q;000 ;830;000 5.68,770,
1995 945 000 -945 000; 508,`91'0
r
199fi- 1,055,000. `1';055;000 445598
1997=2000 =
5;37.5;000.'. 5375,000 986,414 t ',al
2001-2004'
905;000 905,000. 1°39,500
9.;920,000 $ 690,000 $q 230'000' : $3,269 037'.
~f•
'fir
CITY-OF TIGARDI'DREGON•
NOTES TO GENERAL PURPOSE. FINANCIAL,-STATEMENTS; (continued).
6. 'Long-Term Debta (continued) -
' Outstanding During , Pald,During Outstanding
June-30„1991 Year' Year, r''June 30,:1992 Interesti
' Bancroft ImprovementzBonds
General obligation:improvement bond'
issues; interest rates from:60/6 `to'16%;:
payable first'from assessments lto benefitted
, .'-properties'and. second, from 'the general'. ~ • _ . ,
credit if the City'
1992 $ 0000' $ $ (424,000)., •6,000 $
408,000 4081,000 209,59T
1994 203,000 2o
3,000 185635
1995 218,000' ' 218;000 170,507;
1996: 145;000 145,000" 158,005
1997: 1551000` 155;000 14g,44g
1998-20.02 . ' 810,000; .405,000 1;215;000's 570,684
,
2 03-2 6' 1' 1 1 1 22 212
QOM 00 • 0 5,000' ,0 51000:
$3384,000 $ 405;000:+ 424 000 : $3;365,000: , ,$1,672;082 '
During fiscal year" 1992, the.City issued. .$405;000 in special Assessment Bonds.beahng-a 6%, interest rate: The bonds were, used to'repay interim
financing issued to-finance the Lincoln arid Locust Street Local: Improyement•District.,
fiscal year 1987I 'the-City issued $2;215,000:in General Obligation Bonds to advance refund $1,640,000.of outstanding 1984 .Series bonds The
net proceeds ;were deposited in an;irrevocable trust,with an escrow; agent to'proyi•de for future. debt service.payments on the 1984 Series bonds., As.
a result,. the 1984 Series bonds' are considered defeased and the liability forthose' bonds has been removed from;:and not included in, the, General `
' 'Long-Term, Debt Account•Group.'•'At June 30;,1992; the outstanding balance on the 1984, Series bonds'is $1•,640;000..
Other•'Lonc-Term Debt `
..,Other, long-term debtrecorded,in the.General:Long Term Debt-'Account Group and the changes,thereto for,the"year ended.Junei30, 1992<are,as'
follows: ;
` . Balance ` Balance
June 30, 1991: Additions • Deletions. June 30, 1992
'Certificates of participation, interest. Y'
; rates of 6:625%; ,annual ~ payments to be' ' -
made ;solely from. a social° ;
five year parks"serial levy ' $1;15 - $ $250000 905000
Arbitrage rebate ,liability,
' due°in fiscal.year-1994 $ 155,000 39,000: 116,000.
' Accrued vacation payable. $220'990 284 007 'x 220 990 284 007
$ $
Bond" Anticipation Notes,, due fiscal
' year:1994; interest rate .4.b% 300;000: $2644 523 $300 000< ,:$2,644,523
The bond arbitrage rebate liability;repre"sents amounts:due to the ;federal government as.require. by.Internal Revenue Service'regulations'from interest'.:
earnings. on the proceeds of"$8;500,000: general'-obligation bonds issued:in May 1989.in:excess ofahe effective yield on the bonds.
- .
• :
_ :I; -
.
Y'
-
-
C17Y.OF TIGARD, OREGON.`_ - _
p . • .t
} ^ NOTES` TO ;GENERAL. PURPOSE-FINANCIAL STATEMENTS,: (,co ' ntinued)
1.11 • - - - - -
6. • Long-Term Debt: (continued
. - 4.
_
Future' maturities of'ofhbr-long-term:debt recorded in, the Long ;Term Debt, Account Group. and.related'inte - , at June 30, 11 I _
1992 are: , _
. •
Certfflcates` Arbitra' a Accrued B n
_ g o d v
I I
Fiscal of Retiate Vacation Anticl flo :
n
- _ Pa
. Year Participation . Llabllity' Payable' Notes
Y
'tr \
4': `7,
1993
334 956 8 00
f .
d' $2 f
5..
1.994. 346,7-37` - 1.16 000' F' 2 890 000` ' -
_ - , - .
995' ` '3.46;541'
,
1.
11.
' 'Y .
Total 1;;028,234_ 11:6;000_ 284;00.7 a :2,890,000 - _
m,:
-
`y°
s
ess`a ount
representing'
interest J' - ' 123'234' ' ` 245,477- 11 - _r
$ $ , `
-
otaI $ 905 _$2644 523 05,000 11`
T 284`007 '
6'000.
. l;
"
. o
``I / _ ,
:1
Con ri
t buted'CapAito1'
. ,
y
;T,. changes in contributed`capital-were as follows: ,
1.
Balance
Bace ~.tieginnrng,of `
.year : $9,402;700
J , .y _ _
Transfer of :depreciation. on' certain; contributed . . - "
=fined assets from-`retairied'earn'in'•s- - 235 068
Transfer of fixed"assets from General'Fixed: Asset-Accounf . ' , ' . , I", 7:, I r ~ - , t,
r ~ - r'
.G ou to', , , , , Fund, ' - `I23•965
P
Contributions`fro. omens - - -
-71 ;2 57
i .1
, xt.i.
Balance - °end of year, `$9,362,854`
r
y_ „
`t
qr:' , _
8. Retirement-Plans:;, ~ , , , , - . I ~ , , ~ . ~
. : , _ ~ I " ~ . I
I 11~ . - , .
. : ; , I , . , , . I - - , ~ . I .1 _
, ~
y,
Ttie City: contributes to retirement plans on behalf ;of':all eligible employees At, June 30, 1992, the` following,einployee:.'=-
groups were covered by the following; retirement:plans: _
' +
rou
p'
G ~
R
etirem nt. PI` n
ea
Man, ageinent/Professional Staff. Internafiorial Ciry`'Manag'ers
Non'v n ion -
( ) . Association'Retiremerit
Gorporation'•
- ICIvk ' ' one yPurc hase"Plan'
- ( Y
.I,
Ore Public EmJ to :ees Union,; , '\ICMARC`: -
P .
N _ ,:1 . .i ~t1:
' " . ' - ,3 ` - , Y
T9i" `ati':
d'F li
o ce i
:Off A
ce.rs ssociatiori
F: _ `State of Ore9~on' 1Pubhic ,Em •PtoY- ees
k - i:. _ Retirement. S stem' (PERS) . I
Y,. _ .
, .
3.
f - - -
• ;j g j;
j b,•
t?% . • -
.,f
- - t )
~
t ' -t ei•,
- _ _
- SF'.
- - _ -
d' - . '
CITY OF TIGARD, OREGON. -
fyOTES,TO GENERAL PURPOSE FINANCIALSTATEMENTS, (continued), '
8. Retirement Plans:` (continued)
ICMARC:Plans: r:
The,_City contributes,to,'defined contribution single employer plans at aspecrfied percent, of gross•sal, depending-on `the':. -
employment group;. for a, W employees, Who :are~ not. covered. under the police pension,plan:; Employees.do_:not"make:
contributions to,these. plans. _ The.City`is:required.to .ma ke`contributions to'these'plans under authority of Gity _Councib
resolution and the'plan documents :Employees-become•eligible to participate Iinahe plans after'six months"of;service 'and ,
west immediately.,, Employees may withdraw funds upon ref irement or termination of:employment: Contributions. to. the plans -
are made to°a fiduciary. The fiduciary holds.the funds in trust and' makes'.distributions;as.p'rovided;bythe-plan s: Required'
and actual expenditures' by the City for the-plans,were $366,099 for the. •year. ended June 30, 1992.. , Cu"rre"nt .year' covered .
' payroll amounted to.$3;107,436. Required,-and actual,expendnures as a.percentage.of.covered payroll was approximately..:' '
12, percent:
Substantially, all, ,fuli-timeP:olice:,empioyees are-participaiits' in thd.State`.of.Oregon Public.Employees Retirement,'System
(PERS), an agent multiple-employer public employee•retirement sysfem; The City's payroll for.employees.covered•byRERS ' .
for the year<ended•June 30; 1992-was ,$1,660,787; the City's total,payroll;was $4,840;819.. ,
PERS.be' !its-vest after five ~yearsof continuous',.serv,ice.,,• Retirement is allowed at-either age' 58 for general employees'
and 55 for fire and: police personnel,with' unreduced benefits; but •retirerent .is generally-available after age 55 for general
employees.and 50 for,fire:and.police'personnl with reduced benefits. Retirement benefitsare'' based on,salary and length
of service, are calculated using A, fb,rmdlaand-are. payable-in aiump:sum.or monthly using several' payment options:: PERS ,
also.*provides death and disability benefits These benefit proyisions and other requirements are established by: state.-.
statutes
'The' eate•.of employer: contributions to PERS-is determined periodically by PERS_ ,based`•on actuarial valuations. It:is.the '
'City's policy;to.recognize"pension expenditures'or expenses as currently funded. The City's required employer contribution
.rate-is.. ..51%, of. covered., employees, salanesAo. PERS.' The required employee..contribution :of ''6%,•of covered,-,.
f coin ensation-is` aid b tthe Ci in conformance_with its labor:contract.
The°amount shown on page- 20;. as` the "pension benefit obligation" is a standardized'disclosure', measure of the present
value of pension' benefits;wadjusted for the effects of projected salary..increases`estimat edfo:be,payable in`the future'as;
4.4s61t of "employee service,to date: 'The measure is intended to help users assess the funding status`of PERS on a going
concern,basis, assess .progress made' in_ accurhulating sufficient assets to pay benefits when,due; and make- comparisons,'`. '
among employers.. The measure is the actuarial present ,value'of credited projected benefits,,and_'Js independent, of:'the
' funding method used to determine contributions to PERS ;
Th'e pension beneift,bbligation;was computed`as part`of-the'most`recent actuarial,valuation'performed.as;of;December3l,
199`1:. Significant,actuarial-assumptions used in-the, valuation,include. (a) a rate•of,return on the investment bf. present and
future assets of 8%; (b) projected salary increases of 6% peryea~ attributable to .general wage adjustments with additional
sala increases `due, to'. romotions,:and Ion evil than"va b a e. and` service cro ected~ automatic st-retirement
ry P 9 Y ry Y 9 . P 1 Po
benefit increase's,of 9% Per year. (ttie;maximum allowabte);;an`d (d) demographic-assumptionsthat-have. beemchosen,to
reflect our•.best.estirrate of.emerging, experieace.of the members.in PERS:' No--obligation for,retireeS is attributed to,the•
r City as PERS pools the risk related to::retir'ed employees'among all:.empioyers: ,PERS assumes the obligation for,benefits ` . '
from the individual entity when benefits.becorrie payable:; Accordingly, the "pension benefit obligation" covers .only-cxirrent-
ployees ' `
em
•i ~ r
t ,
S; CITY-OF TIGARD,-OREGON' r.
- NOTES TO GENERAL PURPOSE FINANCIAL- STATEMENTS, (continued_)
:8: Retirement P18n3: ,.(continued)
a }
Asset`s.in excess.of-the.pensionbenefit obligationat December;31; 1991'are as ,follows:
Net- assets' available for benefits ,(at. market value)- $2261,317,
Pension benefit obli anon.= current emP"loyees -
Mernb'er account balance 505355- ,
V
ested accrued benefits 4't5;838':
Nonvested accrued' benefits = ,1.16,885 _
T'
ota
-1' 038'0 8 -
;Assets-in excess of pension benefitr'obligatiorl - $1,223 239
S'
:City, contributions to PERS for;the last tyro years, since police employees became members of the plan;,which were made+ -
in accordance wdh';actuarially determined requirements, -follow
1992 1991 1990..`
_ ;
Em "lo er's.p ` rtion • $281.267 - 242,'954' . :t25,,235'.
'
Em.P..l rl.
oYee pick up 93994 72 9 209
, y. 1.83, 6"
'Iotal employer cost $375;26`1 ,1326680 34,4.44'
Employer and employee
contribution' as- a= percentage F
of ,covered payroll" 23% 19% f 2A
The amounts intended to:cover, normal,costs"and,to :amortize any unfunded actuarial accrued liability 'are not available:from:;'
the actuary: All.contr'ibutions were made in a:66rdance'with:actuanaliy determined"requiremerrts
'PERS, policy provides'•foractuariaily.determined. periodic `contributions that are, sufficient ~to-pay benefits when due The
- " - `contribution 'rate for normal cost ;is determined using,the. 'entry': age actuarial cost method" A thirty ,year amortization is
-used to amortize the costs: `of.'the unfunded actuarialaiabilities..Any benefit increases are funded over.30 years.. '
Actuahal'^valuations, are-made'by PERS for.all 'employers every•two years. 'Police employees became `subject,to the PERS'
plan in.1989. valuationor ttie City".was made.as"of' December'31',•1989.;because •as of,-thaf date PERS did not have
"the.City's.information',avaiiatile,r".7The first;'valuation. perto~med-.by PERS16r, theCity`was'as of"'Decembe'r 31; :1991:
Accordingly; certain trend-information is'available.orily~as`of that date.... As ofDecember 31;::199;1nef assets available for>
`'benefits as a ,percentage': of the ;.pension benefit .`obligation; and assets in excess of pension ;benefit:(obligation as: a
percentage. of annual covered.payroll;was 218% ah8 73%; respectively.'; _
.18.
CITY OF-TIGARD, OREGON, .
NOTES TO GENERAL PURPOSE FINANCIAL -STATEMENTS,,
8. Retirement'Plans:.(continued). "
Deferred. Compensation Plan:
, _
The City;offers certain 'employees:a'deferred compensation,plan'created irraccordance with, Internal Revenue Code Section
45.7.. The .plan; ' available -to all City employees;. permits tt " to defer a - portion of tiieir' salaryuntil . future 'years.. ,
Contributions for:"'the :plan 'are madei to 'fiduciaries who bold the funds' in trust for, the ,plan participants.: .The deferred.
'
' 9"pensationhis not available to employees until;termination,,retirement, death;'or unforeseeable emergency.
All amounts,of compensation deferred underahe,plan;.all:property and rights purchased with those;amounts; andall income.'''
attributable to those amounts, property',- 6 rights :are.(until. paid or made, available to the; employee or,other,beneficiary)
solelyrthe property and rights of the City"(without being restricted to the provisions of benefits ander-the''plan),".subject only'
:tor the' claim's of'th6tCity's:gene al creditors Participants' rights under the plan,-are`.equal to: those of geneYal.creditors of,
the; City in 'arr amount equal to the fairrnarket value _of the.deferted:account for,each participant..,The City believes that,,
it is unlikely that it',4rill use the 'assetsrto s~fy the ciairns'',of general creditors in the future
.Expenditures* by, the. Cityforthe deferred compensation Plan-wore $29;673,for*the year-ended"June 30, 1992.''
' 9: Transactlons with Unlfled Sewerage. Agency of Washington .County:
The'C.ify.of:Tigard collectscharges fog treatment of City'sewage on. behalf of the Unified Sew•erage.Agency gf`Vllashington .
County (USA),and remits all collections -to USA except for 30 percent•of sewerrservice.chargescollected and 20-percent
of connection chaeges'coliected'and,a.ceriain amount for reveriue,bond.debt service; in:accordance with.an-agreemept-,
-between the City and USA.dated, June 25 199.1•. Payments of $2,433,376 `were. made -to; USA-.during 1992':under this .
agreement'
f
The City has'a similar agreement with:the.' Regional °Suriac`e:lNater Management°Agency; which is "an aff, iliate of;-USA':for,'
storm water systems Payments made-to-the Agency during 1992'under the agreement were $258;602.
The: net amount retained -by. the. City. is. reported as' reveiaues in. the Enterprise.,Funds -in. the 'Combined '-,Statement-:of'
Revenues; ,Expenses and'.:Changes in,Retained Earnings/Fund Balance-- All iroprietary',Fund. Types-Enterprise Funds.
' Revenues-are reported net•because'the',City'acts in'a fiduciary capacity on, behalf of ,USA
' " t0. Segment-Information for Enterprise Funds: i
fit., - - - r „d, _ .t
The` City's two' Enterprise Funds., account. .for:the',auisition; operation, .<and`'ma'intenance of,aewer arid' storm: drainage:
systems.which.are supported by user charges. Segment informationJor the year ended June. 30,1992 is as follows:
' Sewer Storm Drainage
Fund` Fund Total
Operating revenue ,;969,295. .$563,883 $1,533;17.8
' 'Depreciation 232,568- 166,209. 398;777
Operating income...(Ioss) '56,39 3: i (70,585) (14,192)
Operating transfers out , 70,300. 44400 114,700
Net-income (lossj ` 60,579 -.(69,925)'; (9,346)
r Current capital contributions 17.1,257'.= - 171,257
Fixed' asset,additions''' ` 271,992 3925 ' 275,9,17
' Net working capital ; . ; ; 307,556`'» ' 300;444 fi08;000
".Total:asset87;000,919: 4,838,361 , 11;839,280
Total equity -6,417,422:; 4;769,614. 11,:187,036
19
. r
, , -
A- TY OF`TIGARD;''.OREGON .
-NOTES TO `GENERAL. PURROSE FINANCIAL' STATEMENTS', :(continued) ,
. ~ . . • :
y r
11. ~OVerex6enditure•of Appropriation`and'Deficit`Fund,Balance:. - -
" ' .
. - -
'For ' .
,fi
seal` r' 1 2 the' Gen'er;
.yea 99 aFFun&appropriationfor.'capftal;projects:was overez ended tiy.$29;231:f
. _.P' -.t. II
r;, The.Steeets-SDC,Fund,(a special'- - - - e fund .had a fund'deficit'of $307 at'June-'301992:• The deficit is:ez0acted' " tobe"
eliminated through,,,future collections of,,SDC. ch.arges: r~
, :r
firrienti:t- - -
- .11
t- _
rtm nr 'fi-r ca
,Comm
e is o lan
co idt i onr""o
ruct 'ect•r'.h"e
s ina ,Cit~ 'amounted ,to~~:~a •roxi,matel- .000~~ at~J-une ~30 I -1992': .
Pifa P, 1 y,.- PP, y $97E r r13.:.Passaae'of Constitutional l-roperty Taz: Limitation: iT vi
The Oregon-voters ap""proved a State constitutional limit-'on property taxes for schools-andnonschool government:operations::
lJnderth provision-of'the,limitation, taz'revenues are,c ted,into those forthe public school system a11, ndth' foraocal I
-gc1~~mrient:operaiions~other"ihan tine public school system. The limitation specifies$10 OO.is the -maximum allowable tax.:
J t for' each=$1:;000, of property .-real "marfcE. value -'imposed-fon" local governments_, therthan the; public ~ school'-systeiri
beginningwith the 199.1-92 fiscal:'year. , . ti" ;
: -
f
e m i
Tt itat on. a' liesao alI`'state and °loeal fazes and`cha` es on, Yo` art ' 'ezce t for'the` followin
li PP , C9 P _ P_ Y. P . , 9 r.
P
. 1 ,u'. or services:receivedatahe,owners ~o" tion
2:.: assessments.for.capital,constructioril at.peov'ide~:a'speciai,benefit'.to'the:.p'roperty'and'that can:be`Paid'off .
over at leasf ten:years;-'` '
r ,.3. -:taxes -to repay bo , ed debt ,authorize' i,by, the,`state: constitution; . -
4. fazes to'repay.;existing`-bonded..debt for capital constitictio'n; and#, . . '
5. ` ".fazes i, repay new _:bonded debt for capital construction •rf: approved by ;voters r '
' -
'i. _1 F- :i. -
At'tfie present:time,the financial effect of the.limitation.:on'the,City's`future years' o eratio ' s-IS~not e`z "acted to; be . „ ~ '
significant.,: - ,.P P :r.'
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Lo. SUPPL-EMENTARY'DATA. ,L
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(Combining',and.Individual'Fund and.Account. Group Statementsy x
µ ,.r r F' and Other Finsncial Schedules):-,;' 1
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AL FUNfl. rrncipat•res
GENER they fend P n the Gene a
ary exy~end►tures
orou ntedtlor`~n any,
th G~ty..which nd 1 lenses and P~errriits•
e
financial opera eT merital revenmueS
ent and adr~inistratio
?ntergpv develop
fortthe
fund. accounts frahc~'iselees; n inunitY
r.: This " taxes•k rotect►o
erty for poiicep , .
are prop ade
d ace,:mi '
Fun
.1 z
ITY': F: Tl 'ARD
C O G ORE ^Nr-.
GENERAL-FUND.'
-SCHEDULE-OF:REVENUES,-AND EXPENDITURES BUDGET'AND'.ACTUAL' .
for.the:flscal'year ended "June 30; 1992 -l
it
-
Variance Revised , Favorable."
Bud 'et -A I.
g ctua (Unfa o~ab e)
REVEN
UES'
Taxe's $:3,487;000' :.J 446'324:' - 40676
Franchise fees - X1,264,000" 1`'287`794• " 23 794 .
, ,
Licenses and: permits 840,40,0,<<' " =e12;322 • =(28;078) "
`'Inter9overrimental* revenues' 1l 480"880 1 7 77 1
,58 3" 06,893
Ghar es. for services: 1:12275, (26r
36 ' 9- - , - 339).
- es<a d forfeitures. 250,80.0- : '322618•' - , - 71;818: `
Miscellaneous revenues.pr_imanly:interest.' 411,000 284,276' ;ti 126724
i`
.2
1'9=3
Total 'revenues" 7-827-,043-C,
BEGINNING`FUND BALANCE.-AVAILABLE... "
FOR,APPROPR`ATI ON- r. 71',,:-.%l 536;477
1.;865;330 328453,
Total :9 382 832 9 692,373
' 09541
Y 3
Revised
Vafdance
Bud eted Favorable T;
g
t•
i
I o -rlat o s
A •A !
ctuaI Unfavorab°le
p .
- prop d )
1
' EXPENDITURES:,'.,.*. -
Community"servic'es' $4,517,483 $ 73,323
' Community development 1',630,252`" , -1;431;750; 198,502,
' Policy, and .administration, 1,124,800, 1,,072;616 52;184
City-wide:suppotl unctions a 257045. , 227;869 29,176
Contingenc - 492400 492 000
'
'.',-202,589:,231-820-
a it a ',2 231
ro1ects 9
C P
3
P
Tot al,ex"enditures
p 8.,297 ,492 .<$7,48,1,538< $8954 "
, Unappropriated ending Fund Balance 1085,340
Total'
$9;382,832, 4' s !
rf
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1M
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Al.
SPECIAL REVENUE FUNDS ,
The Special Reverue'Funds' account for revencie, derived from'spec'rfid;Wes'-or other,.earmarkedrevenue ,-sources whiich,are,
legally. restricted •to.finance particular functions or activities. Funds' included in this fund catego y are: ,;j
"Forfeitures'fr6m'Qriminal'ActiJity.Fund
• State Tax Street Fund ;
a
• St eets~S C Furid 1 ,
Parks`SDC Fund '
~s County`Roadl evy. Fund :(closed `duringyfiscal year 1991-=92
f `
County Gas lax.'Fund`
J. V,
' Traff ic lm act Fund
9Nater.Quality-&'Quaiitity Fund
4
CITY-^ F O .710414D-OREGON
SPECIAL REVENUE;FUNDS`
_ - ` MB
CO IN NG: 'AL'ANCE.SHEET _
u.
June:30j1992 r
F o rfeftur
o esr'
From.
.Stat
o
n -
~Cou
t
W r _
- ate
Y_
rlmin I.
C a Tax
Streets:? Parks Gas ,.Traffic. : Quallt &
i_
Act vR
'r :Sfr t. .
_ ee SDC. .:SDC ..Tax Imp ac _p ct Quantlt -
n
Fu d°
.F n -
',Fund,
~ Fund
u d •Total
Furid•. ~Funil'
. .
7777777
'ASSET
S:
ash anci.investmentsw'
$ .16,333:`; $ 454 496 307 180r 258 ~2Z 7
( ) $ $ ,30 $ _747,360. $ 62;563 $1,48801.0'
A
ccoun r ivabI
is ece e -
- :1'19;430x-' 119430
T
ota
assets
6 333 454'496'
•180;258;: _ 27;307 ,866790': 62.563 1 '607440
=LIABILITIES AND FUND: BALANCES= DEFI IT _
...A.
LI
BILITIES
S: -
Accounts payable $ 5,094 ' 12,302. `61=719
:Deferred revenues 116,747 .-116,7
47 ,
1
TI ilit i
otali
ab I 6s _ 44 2
3 3,'_ 5 094 1
- 9;049' 178'466
FUND-BALANCES(DEFICIT) - ;
. ,
UNRESERVED, 16;333.=:. 41,0,173.
`j . (307) 75164 Z27,801 737;741 62563, 1,428,97.4
a I n. ~n
T
ofl ab~ il•ies:.'ad f'ud
-
l;..n.
ba a ces A 6 333'' ` ~454 4
(deficit) :$9,'-n 307 $.:180;258 27,307 $ 866790;. .62,563 $1;607,440
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. CITY. OF TIGARD, OREGON
' ' SPECIAL REVENUE FUNDS
COMBINING STATEMENT'OF:REVENUES,-EXPENDITURES.
a -
AND CHANGES 1N FUND BALANCES -
N _ forthe.fiscal yearerided Jurie10`,1992
%
Forfejturea. -
?Water
-
From. State County
Criminal" ;Tex Sireal. Streets ' Parks -Road'..: .,County Gas . Traffic Quality &
•Actiyfty Fund Fund'. SDC Furid 'SDC Fund Levy Fund- Tait Fund .Impact Fund Quantity Fund Total,
-
Licenses and permits , $ $ $100,000. $ $747,220 $ 847,220
_
" . Intergovernmental."
`'revenues'> 1,219,821 1'54,317 48065 .1,422203
CHarges forservices 16,145 _ j 16,145
Miscellaneous revenues" • '1.1;469' J8,010 4,185 - 5,878. 1,897 11,410 2;873 115,722
Total revenues 11 469 1;3.13;976. 4,185 .105878 156;214:- 758,630..' "50,938 ';2;401:,290.: _
-EXPENDITURES:,..
Communityseniices'. 3000. 3,000 :
Community'developrrment 793,209° . 133459 46918 973,586 .
Policy=and admini-
stration : -64392 20197 84`589
City-wide support
functions ' 30,628 6;977 '37,605:. r
N Capital projects - 331,824 21,870- 4,885 99,853` .458;432
w . -
Total.
;expenditures: .3;0001 1;220053.. 21,870.'.:., 4,885 160;633 -146,.771 1,557212...'- -
"Excess of revenues over.
(under):expe'nditures ',8,469 93,923 (17,685). ; . 100,993 (4.419) 611;859. 50,938 ; 844,078. .
Otherfinancing'uses - y • -
Operating.transfers out• 70, 7( 0,300)
~ Excess of•revenues,over.(under)
expenditures and othe'r,uses 8;469;. 23,623 - (17,685)-100,993 (4',419) 611;859. 50,938 - 773,778
:.I .
FUND BALANCES - =
begiriningofyear 7,864:.. 386,550` 17,378'- 74,171. ;11;,440 20;286` 125,882 11,625655,196,
1144C' 1.1440
Residual'equity transfer in
Residual equity. trari'sfer out'. (11,440 •11 440
FUND. BALANCES; (DEFICIT).-
year- 62563 :$1;428,974
$ 410,173 :r•:`; 307 $175,164 $ 27,307. $737741
. erid of V $.16,333 ,
oi,
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- Y! I . I. CITY O.
TIGARD; 'OREGON': a' • . t;
. "FORFEITURES FROM CRIMINAL ACTIVITY-FUND-,-l'. k '
,SCHEDUL' E OF' REVENUES ANDI EXPENDITURES " BUDGET'AND ACTUAL
;w
for the.°fiscal year ended'June: 30;• 1992'::` . . ~ ,
: ; t :
. . - y." - t; . "
. . .111.1 .1 , s - - _ _ -
^ yr. _
. -
- , n: Variance... -
. I . y ^ ` , 1. Budget ` I Actual' Favorable:
-.r 1' . - , .r,
REVENUES'- ' - • ,
_ , .
MisceIIaneous .
}
11
69 11 .
4 40q
t•
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1_ k
BEG NNING, FUND BAL'ANCE.AV,AILABLE
"
FOR APPROPRIATION: 6;083.
f . ;1;781 ` -
. K`,:~-. ,
=Tot al 6 083' I 19 333''-,_ '3. ?2
- $:I $ $1, 50.
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" ' : , :Appropriations ' Actual' Favorable
' = - .
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.
EX
RENDITURES '4 i
I
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1•
Community services 6,083 $ 3,000 s,; ,$.3,083
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CITY -OF TIGARD, OREGON'. _
STATE TAX STREET FUND 4
SCHEDULE.OF•REVENUES=AND;EXPENDITURES BUDGET AWYACTUAL.;
for the fiscal year'ended June,30,`1992:.
-
Variance,
:Favorable
Budget Actual (Unfavorable) _
REVENUES: -
State1 gas,tax • $1,276,005. $1,219,821 $ (56;174)
Lighting subdivisions -12,000-
16 ,145 4,146
Interest 31;200 - 33,401' 2;201
.Miscellaneous 44,609 44;609:~ ;
Total:.revenus 1;319,205 1,,31"3;976, (5,224)
BEGINNING FUND'I3ALANCE-AVAILAB~:i: I'll
r
-FOR APPROPRIATION - 386,550 : .'(51,621
' . total $1;757,376 $1;700,526 $ 56,850
' Revised Variance
Budgeted • f Favorable_
Appropriations Actual '(Unfavorable)
EXPENDITURES:
. Community-development 817,249 ' $ 793,209 '-24;040
olic and administrat ion _ 474
P'64,392
' 64' 866 ' Citywide support'functions_ 34;549' 30,628 • • • 3,921.. ,
Contin ri 17 1.2 •17 12
,
Capital, projects 662,592 33'1,824 330,768;
To tal`expenditu^res 1;757;376 ; ' •4. };220;053'.: _ 537;323
' OTHER FINANCING USES
-
Operating't`ransfers out 70,300 70,300)
'
Total..: $1;757,376 ; $1,290,353, ' $ 467;023
•
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, CITY OF- TIGARD, OREGON`,
. % - °STREETVSD.C.FUND . .
- SCHEDULE,OF REVENUES AND. EXPENDITURES BUDGET,' AND *ACTUAL'.',_ `
S-•
• _ for the;flscal Year ended,•J ' ' 30, 1992: '
m, I 1: 'y fir. r.: . -
7' _ ti '
-.f 'Variance , '
' : _ Favorable:
` -Actual Unfavorable
1'1,:_,
1 ,
. REVENUES-- 3 " _ =
• P - 1 ` ,
I
Interest , '500: i; - . _ 4;185 $ ..3:685
ota e e ues - _
4_ -
- - s•
.
BEGINNING'FUND"BALANCEFAVAILABLE
F.OR'APPROPRIATION. 21`;370? 1"7,37& 3 99- '
, 1. i, ,2J
Total ~'P,8i0 $ 2'1;563 30 -
`.t.
-
. - . - -
udgeted'
B, ,
_ Appropeiatlons. Actual ' Variance, _
URES - , 4
EXPEN T
DI
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.
Capital projects 1 $ 21;870: $ 21,870. Y' $
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CITY.:OF TIGARD, OREGON
.•PARKS:SDC,FUND _ .
SCHEDULE''OF- REVENUES- AND EXPENDITURES -=..BUDGET, AND A, CTUAL.
v for the fiscal year ended June 30, 1992' _
Variance .
r = -..Favorable
Budoet Actual (Unfavorable).
REVENUES: i.
System development charges . - 150;000 $ 100 00b (
50;000)
Interest 5,000 5,878 878 s:
f Total revenues' 155000105,87.8' , (49;122)
BEGINNING' FUND BALANCE.AVAILABLE~ - .
:FOR;'APPROPRIAT.ION 82;000. 74;171.: { `r7 829
-
Total ' 237;000 $ 180,049' $ (56.951).-
Budgeted ' V
ar ance , .
Appropriations Actual Favorable
-EXPENDITURES -
Capital. projects $,,237'000 $ ' "4 885
232,115. ;
t
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CITY-OF.TIGARD ,OREGON _
. NTTROAD LEV,Y'_FUND' -
'
I
T;.
,rIL
SCIiEDU E' ` OF)
REVENUES COU:~AND';EXPENDIT,URES BUDGET.:AND ~ACTUAL'
' - - ifor•:the:fiscal:`year, ended(Jurie• 30,-1'992 -l
r, Va"glance' .
.
f z ,
.Favorable-
11, . J_ f`. _
_ . - Bud et,' Acfual (Unfavorable)
- .
-
BEGINNING.FUND> BALANCE AVAILABLE .
11-44.
Y
FOR APRR P I
O .R AT►ON' $ Or
$ Y. r;
1 1 440 .
f ,
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,
. Residual=equity •transfer_out ; (1`1 440 11 440 . '
1"' (
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Totah • _ a.
- $
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CITY,DF.TIGARD; "OREGON
COUNTY. GAS TAX, FUND - ; .
`SCHEDULE OF REVENUES. AND:EXPENDITURESf •.BUDGET' AND. ACTUAL-.','.'-,..
for the fIscal.yesir ended June 30.".1992;,.
Variance:
` Budget `Actual :(Unfavorable)
;,,".,REVENUES:
County gas taxes $ 140;000 $ 154.317`. $ 14,317
• Interest 4,000 1 897 2 103 ,
:Total°revenues ' 14-4;000- 156,21`,4 12,214
' +6EGINNING FUND, BALANCE'AVAILABLE w
FOR ,APPROPRIATIO.N 26;1)00 20;286 5,714) : ' -
Residua! equity transfer in 11,440 11,440
Total $ 170,000 $ 187,940:. x' $ '17,946
Budgefed' Variance
Appropriations Actual Favorable
tXPENDITURES:I `
community'dev.elopment $,,140',773 . $ • 459 7,314
Rolicy and administration- ~20,494 . ; . 197:'. 297 `
City-wide support functions 7,870 , 6,977,,_' 893 .
Contingency 863 •863 ;
y. ;
Total: 1'70;000 $ 1'60,633:.
$ 9,367
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' ' CITY OF TIGARD,, OREGON`' ` . , . - ,
- r TRAFFIC-IMPACT FUND ' ' ~ . -
. , - _ S'CHEDULE' OF REVENUES AND-'EXP,.ENDITURES ,=-.BUDGET AND ACTUAL
i forahe;rfiscai Year-ended June',30- 1992' , F -
C
~ ` .
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. - 5 .
Favorable` ;
t Budcet,' Actual " (Unfavorable)
REVENUES .I . - t , . , .
.
. - _
. -
rrm
a c iact fe
es, 7?
7r ffi 735,,,000: ~,747,2207
$ $ ~ : 12'220
, - +
nterest 28,000: 11,410,. . ( I ~f ,
16590
. + I , .
4„ }
Total revenues,- - 763 000' 758,630: *4 37011
:
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_.::8t-FUND BALANCE.AVAILABLE- a` , 11 {
F6R'APPROPRIATION, _ 184::00:' 125,882 581•:18 .
.
Total: 1 947,000 - 884 512 "62 `488
_ _ _ .
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Bud -'eted:. ' Variance }
`Appropriations Actual' Favorable
_ EXPENDITURES: - ,
.
.
Community development_ ,49,634` $ 46,918. ' 2,716
:i
-'Contingency." :47;366 '47,,366
r `
Ca ital. ro'
P ;p, leas`' :850,000.' 99,853 750;1.47
Total - , ,
, p' $'A47;000.. .1.46,771 = . $ ,800;229
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CITY, OF TIGARD,, OREGON,'
WATER 'QUALITY QUANTITY "FUN D" - .
SCHEDULE OF,REVENUES.AND EXPENDITURES BUDGET'AND ACTUAL
for'th6 flscAlmoar ended June 30,1992',
Variance
Bud a et: Actual Favorable
_ REVENUES: - • • . - - . > . -
Water quality & quantity fees- 40,000 48,065 $ 8,0.65
" Interest 1,200, 2,873. 1;673
Total. revenues '41;200` 50,938 9;738 :
BEGINNING FUND bALANCE•AVAILABLE
FOR APPROPRIATION 10;000• !11,625 1,625
+ .Total•. $ '51 '200 $ '62 53'. $ :11 J68'
.
Budgeted Variance
Appropriations Actual Favorable
EXPENDITURES -
.Capital'projecfs' $ 51 200, - $ $ 5.1200
r _ 31,
- 'pEgT SERV.ICE'FUN~ c , , -
$debt
a1 and interest The GitY
Brat obl~9ation bond prmc►p
ou tlor ttie payment of9en
Debt:Service Fundfa~ _
Three funds corisist o
Se SeNice Fund,- _
gored Debt. , ..bt $eice..Fund
f Participation De l n
Ce'rfiCate o Partiicipatio
' Bond Debt Service, Fund -Fund and the Certcrid e Service . .
Bancroft , nd Debt Service . , - for the Bancroft
s
tot the s are property taxesAect onnd interest eam!ng
e . ` co
:Principal sources of` ar►d special assessment
ow Service' Fund;
-Fund. .
f
51,
• r' 4
C
f CITY OF TIGARD, OREGON. - "
DEBT "SERVICE-, k NDB`
' COMBINING"BALAN CESHEET
• 1 • 1
u e'30`•'19
M
`r 4 •
Certlflcate of
` Partici ation ° Bancroft
P.. ;
Bond>'Debt ' ,QObt`Service': Bond-Debt-'
Service Fund Fund Service Fund- Total
ASSETS: - - - -_'f: ~ ,
Casli and irivestmerits. $ .;(616): $ `29,253`:. _ ;557,127. ' $ '585,7.64:
Property: taxes areceiVable 107,505 24•343 .131-,848 `
Assessment liens` receivable.:' ' t 2" 7
,890;8 3 2;890,873.
s Aed-;inferest on delinquent
assessments -52,498:'' . T, 52;498
T
of as
aI: sets: ,$106;889 53;596&--'
$3;50.0;498 983
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LIABILITIE .AND.F A
S l1ND BLANCES:
L•'IABILITI
:A
ccounts" a abl .anti- a
e accru d", • , - ,
:liabilities. 044 2;044:.'
'D•efei•r• n
ed te.vaues'
Propertyaazes „ 85;141 19,168±__ 104,309.-.A
A'ssess'ment liens receivable.. - 884,007' 2;884,007`
: _cciued interest'on delinquent> -
assessments : 50'026 50,026"
026'.,
_0
.85,141- 19;168 .2;936,077 3,040,386,.
FUND:BALAMCE;UNRESERVED 21';7..48'. 34,428:, 56,4;421`, `620;59.7-
Total: liabilities' and
fund balances'.; $1:06,889 535
96.. :$3;500;498 $3,660,983,
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CIT1f, OF
TIGARD, OREGON
,
DEBT SERVICE FUNDS
~COMBINING. STATEMENT OFD REVENUES,.,EXPENDITURES; ; .
AND CHANGES'IN FUND, BALANCES'
• for-the .fiscal;.year ended-JbneM. 1992
Certificate' of
• ~ Participation Bancroft.°
'Bond Debt Debt Service Bond Debt
Ser'v'ice Fund Fund Service Fund; " Total.
, REVENUES:
Taxes $1,•188,515 328490 ' $ $1.,51!7,005 A . ,
Special assessments' r 288;574' .288;574
Miscellaneous revenues, a
pr imanly.'`interest' 31',078 8 160' 271.038
' Total revenues :'1:;21'9;593 336,650559;612: 2,115,855
EXPENDITURES:
Debt Service:
Bond principal 690,000' 424;000 1,1140001
tv. Note principal' 300,000 300,000
. -Certif icates of participationrpnncipal °250000 250;000 ;
Interest 648034 76,137 255;003 979,174
:Total expenditures `1338;034: 326;137.'_ -979,003 `2;643,174
',Ex ` •
cess of'rev!nu-es over:
e
- (under) expenditure"$ :1,1.8441 10 513 419391 `527 319
Other'financing'sourc'es:
Bancroft bondproceeds 324862. 324;862
Operating transfers inr 478 004 478,004
Total.ot . er financing `
sources 862 802;866
Excess':of. revenues. and other .
sources=over (under):expenditures- - 11844,1' _10,513'r 383;475275547
FUND BALANCES-- beginning of
year . 140;1.89 23,915 < :186646 345050
-'t
'FUND BALANCES end of year $ 21 748 $ 34 428 $ 564 421 $ :620 597
_ - 33 .
CITY-OF TIGARD, -OREGON
CERTIFICATE- OF_ PARTICIPATION DEBT' SERVICE FUND, ;
SCHEDULE OF REVENUES:AND.EXPENDITURES'- BUDGET,_AND,ACTUAL
for the fiscal year ended.June 30,:1992 .
Variance:' -
Budget - Actual, (UnfaVorab
REVENUES:
Taxes; $`333 750 $ .328490., - $ - (5;260)... .
.'Interest 2,500'. - .8;160 5,660
` Total revenues. - 336;250:: 336,650. _ -400
BEGINNING`' FUND BALANCE,AVAILABLE
FOR. APPROPRIATI,ON.' 10;004 23,91`5 13,915
Total $ 346' 250 5 - $-'360'565 - $ 14,315
BUdgeted Variance "
App orations
"Actual; Favorable,
: .
EXPENDITURES:' - ;
Debt service: } , t
_ t Certrficate' rinc'i al .,,-$-260`000 ` 250 000 $
I?. P
Interest• 76;518 76137._ 4 381
'Codtingency: 19:732: 19,732.`
Total 346;250. $ 326;137" $ 20,1'13
x rf'
' - "35
CITY:;OF TIGARD OREGON
BANCROF~'.BOND DEBTSERVICE'FUND'
SCHEDULE OF REVENUES.AND-'EXPENDITURES - BUDGET-'AND ACTUAL-,
for the fiscal :year ended June 30, 1992
' Varlance°
-d 4
~F v r 'I•
.i .
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- *Budctua nfavor"abIU e
C011e6tion of`' bonded
s smants- 73-
a les
- 1 h1.r
-2674' 2
• : $ 88,574,.,'.'271,038 Interest: 237,990" r . 33,048
T I'`r vI n`
ota e e ues" -4
44563 559812~ '114r149}'
'OTHER FINANCING%SOURCES:
Bond`is'suance proeeeds. _.25,00fii: 324,862 { 138)
Operating transfers :in -1'85;600 292404
77
R-
- `t
:Total^other.financin"9;sources 510 600. 82
0 866 292 266
.
Total revenuea and other sources `956,063 .1;362;,478 _ ,-406,415
BEGINNING FUND BALANCE"AVAILABLE
FOR,APPROFRIATION.: s' 78;000 180946' 102946
'!v
Total, $1;034063 $1,543;424 $ 509;361.: t
yt .
r' Burl -eted' ` ' Variance.
Appropriations" Actual Favorable
-EXPENDITURES;; Bond principal $ +462;000 00" 38;000
'No#e`principaC 300,000 300,000
Interests '272063 255003. 17;060
I'
To
t
a -
1 X034 063:: $ ~'.9., 9,003 55b60
$
.x~
~y. f 'airy' 'r,T - l
CAPITAL PROJECTS FUNDS ;
`The Capital Projects, ,Funds'are used to account for the construction of major capftal projects: Capital`:Projects
F,unds.:mclude: ,
Local ,Im roverient Ca itaL Projects. Fund,
P p
Road. Imptovement;Bond Fund'
-Park L• a ,Ca ital: Im • •rovement Fund
Sources of revenues for L'ocal';Improvement District `apital'Projects'~Fund lnctuder•proceeds frorrrthe sale,of Bond
Anticipation'Note.s and other short term debt `
Road Improvement Bond' Fund isr!unded by proceeds from ' Ihe•,sale of General .Obligation:. Bonds: Such projects
are expected to be -completed`1thin a three year period. :
Park.L&Yr' CapitaI Improvement' Fund is, funded by proceeds,from•thesale' of, Certificates of Part icipation; `Such
improvements .are expected `to be`:completed 'within' a three year period
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- . . CI TY-OFTIGARD;OREGON' -
- • • - CAPITAL"PROJECTS,FUND. • _ '
I
- COMBINING BALAN E .
CO C SHEET,.',,,-
. (f
J une 30" 1992
_ , 'r t
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, - - ' ~I
- I, . Local ,
T.+. ,Improvement Road: Park'Levy, ,
Ca rital . Improvement , Ca ital '1`
p. . P _
. . • 7• l~ ro ecs Bond _i Im ,r.-V - y'
• _ . 1 t p o ement
• ` . - Fund i Fund Fund - :Total
y. - -
A I
- . •
SSETS: - '
. '
r; c;
Cash°and Investment s''=. $2 282 131:•`• $ '435 0.66 $:-`3,771.07 094 ;304
> $3, -
.
.Accounts'receivable: . 79 ' ~ 4: - .79''
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aotal,`,assets j
$2,2.82',210 438 666 $':377107., - $3;094,383
> 3, _ - .1
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LIABILITIES AND FUND'BALANCES -
.
_ - I.
. . ,
LIABILITIES`- _
. `
. , _
_
v
-
Accourits PaYatile• aril 'accrue 1
d
ab iliti .
Ai
" $ 6 509 69`52(,,
es ,6'870 -i .1`50 try
- , ,
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` ~im i
S. - 1
A`
Y '3,024;85'4. -
FUND BALANCES- .UNRESERVED ,`2;275;340 . 433;91.6 , T' - • 315,598 .
,
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ab t es a d
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;fund-: balances L i?$2'282 -210': << 435V66! 377-'1}07 094383:
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CITY OF TIG OREGON
CAPITAL'PROJECTS. FUND
COMBINING,STATEMENT,OF REVENUES, EXPENDITURES
' - AND" CHANGES, IN: FUND BALANCES
- : '
foctfie fiscal year-ended June.3'0, 1992`
= Local
Improvement :Road ; Park'.Levy ,
r' Capital Improvement Capital...
Projects': 'Bond Improvement.. ; . ,
Fund Fund Fund Total
REVENUES: -
Intergovernmental 'revenues $ 40,699 699 -
Miscellaneous 5437 279,235 ' 289;132 '
Interest r 41',70.7 103;839: 31;285 17 -83.1
Total revenues 47,:144 _ 383,074;` 76444- F 506,662'
.EXPENDITURES:
' Community development' 61;438 61,438
Capital protects • 137,369' 2,500 276 408,151 3,0451796.'
1 Total'expendftures 137369 2;561 714 408,151 3,107,234
Revenues under' expenditures, ` 90,28) (2;178;640331 2
-70 600 572
, . u
OTHER FINANCING SOURCES- USES
' SBond' anticipation'.,note proceeds 2;644;523: 644;523.
Bancroft bond proceeds 80.,138' •80,138
-Operating'tr'ansfers-out ('1293;004}- (-293;004]
t Total other financing: sources 2;431,657 .2,431;657-
' 'Revenues and other sources .
over "(under.)-`expenditures '
an"d other uses 2,341 432. 2 178 640 : 33x1 707 168 915
FUND ;BALANCES (DEFICIT) beginning of:
':year '66092 2612;556 647;305' .3,193,769
' FUND BALANCES:- end-ofyear-j. $2275;340`.`,'; $ ,433,916 $ 3Y5;598 $3,024;854
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, CIT OF TIGARD` ,.OREGON . : c ,
- - - .
, 7 - LOCAL. IMPROVfMEWT CAPITAL PROJECTS; FUND','.
' ;aL SCHEDULE OF_REVENUE §',AN6'EXPENDITURES ' BUDGET:AND ACTUAL. -
- for the flsc_al-year ended June 30, 1.992-`. -
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a
ance
I'_
. , _ ; t: Favorable •
• .Bud et' = Actual - `(Unfavorable) :
REVENUES: - . , . - .
I - . f - : $ - ' - _ -
Miscellaneous.- - 6,437 S 437..
A.
-'Interost r 45,0 -00 41;207 _ . {'3293
)
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. -
.
Total-r60nues 45,0001,, 47;144 - 2;144:
OTHER FINANCING~SO -URCE ' ' . .
Sa ,
-
-
_ Bondanticipation noteproceeds ;
2,500,000 2;644,523 144,523
-Bancroft bond proceeds-; - 4
1 _ } 80.138 , < 80,13$
1. -
•
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i'
Tota I:other finari 'in :so r
c g u ces: 2 500,000 2';724,66'1:: . 224;661.
' -'4:' a !
BE INN
G ING:,F1UND DEFICIT:AVAILABLE
:F,Q . _RORRIATIQN 66 092 . 66 092: s
T =
otal- ® 2' 545° 000
2 705 713 ` 160.713
'
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arlance
. Bu 9
dl eted.,. - > Favorable
' Appropriations Actual - (Unfavorable)
:EXPENDITURES- 3', ,
t. .
Capital 'Protects '$2,545,000, ° .137'.369 -$2,407,631 - _ .
,..i it - • I.'-
.
'-OTHER:FINANCING,USES. . , _ C - I
era tin g -transfer • -transfer ou • _ , -
P ~ - 293;004 293'004•
I ` l - - - _
_1'
; Total 2,545 - .
,,000 '$.`430'373`•. $2,114,627 .
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CITY OF TIGARD; OREGON :
ROAD, :IMPROVEMENT. BOND FUND
.,SCHEDULE OF.REVENUES'AND EXPENDITURES BUDGET.AND'ACTUAL•
` ;for-the . fiscal. year ended June 30,• 1992 Ia,
;Variance.
Favorable' .
Budget : ' Actual (Unfavorable) Y.
"REVENUES:
Miscellaneous'` , , $ 10,200 • `27.9;235 ' 269;035
Interest 93` 1
,000 03,839 10;839
r, Total `revenues: 103,200 383;074 :27%87*
BEGINNING FUND BALANCE"AVAILABLE
^FOR APPROPRIATION 3;000;000 2,612,556 (387:444
s Total $3;1.03200 :$2;995,630 $(10:7;570)
'Variance'.
Bud eted Favorable
Appropriations ' Actual ' (Unfavorable)
EXPENDITURES: -
Community development ; - $ 65,020-,,;',4:.':611438 $ 3,582.y
Capital:protects 3 038,180 2,500,276 537,904`
14
l Total $3,103;200 $2,561,7,14r
$ 541`,4861
'
%
4 01
,
CITY OF TIGARfD; OREGON''
PARK LEVY-CAPITAL:IMPROVEMENT FUND y--Q'
SCHEDULE ;OF ,REVENUES,ANDI EXPENSES =-'BUDGET AND; ACTUAL,
e:.3p, 1992
for atie fiscal yeas erided Jun -
. .
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, . _ . ,
, .
-
I .
. :Variance- -
, .
. - " x,-.
- ; y. Favorable 1
' Bu' dget ; ' Actual;; (Unfavo'rable)
_ REVENUES: .
• 3
, - f
o e e t, a eriu 63483,
ri r
to v rnm' n r v'
9. , $..40,699 ,$"22,784
C
.I
Miscellaneous . " , 4',. 460 4 46U
-
- , . .
InCerest .
' e 20r;15b x 31,285. 11. ,
i -
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S;
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T Irv ( '
ota e, ' " u . * , , '83;633. • 76-,444 _ 7,1 J lv' F 89);'
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INNIN `F
G G UND:BALANCE} AIL
AVABLE I"
x, FOFi APPROPRIATION - ;650 0'00 { 647;305 Y' ti`2 695
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736'6'63 $ 723',749.'."'' .4
9" 88.
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' ,
- Budgeted:.. F v - t , .;Variance
• Appropriations- • .Actual' I -Favorable," ` . . , 'J.
r ' i..
_ _ _
EXPENDITURES'- • _ - ' -
2
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~Ca ita r 11 o'ects
33'•6 3' r .
3 -4 ~ 1. 1' $
P P J $ 08 5 325`482'
$,408'1'51';t:,
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` ENTERPRISE" FUNDS
These:funds'are used to finance and account for ih6 acquisition and rhaint6hance o.,sewer'and storm drainage ,
ges:F ri` `in I i ,h' i.f `n r
facilities•wh-are su rtedb u' er.char
ppo y s u ds . c uded n t is u d category.:a .e:
• Sewer: Fund j ' . .
'Storm.Drainage ,Fund,
_ CITY OF.TIGARD,'OREGON.
`ENTERPRISE°F.UNDS,'
COMBINING 'BALANCE' SHEET _
June''30;'1992 ' .
:Storm.
- - , . ySewer Drainage ,
M1 _ Fund",,: 'Fund- Tota
:ASSETS: _ Y
T
• ''Current assets:
Cash and' in3estments;- $ 581,276 295;509. $,.:876;7p5
=
:Accounfs'~eceivable _ 309;777 73,682 `383,459°
".Total Curren V L
t assets 891,053 369,.191'. 1,260,244,
Noncurrent- assets
R ri
est cted h inV
cgsand, e in n
st . e is '937,062 - 653 250 11590:612.
Assessmen r iv
ts ee ab e' 9;4.79 479
Fixed assets';`net 5163;325 38.15,920 8,979;245'
Total noncurrent-assets 6109,866 4,469,170 10;579,036
Total assets : J
$7;000919. $4;838;361' $11;839;280.
'LIABILIT
IES'AND,Et:1IVD:EQl11TY: -
LIABILITIE8`.
'i
Accounts.'Payable and accrued
liabilities $ 569,289 631,399.
:Deferred'-revenues 6;814 6;814 ;
Accrued-vacati on ae 7,394 • 6;637 •14,031'
P Vabl
N t Total liabilities., 4: 583, . 97
68;747 652,244'.
_ FUND-EQUITY.
Contrib ted;capital 4;770;524 4,592,330 9,362,85,4
Retained- earnings 1,646,898 177,284 _1,824;182
n ;Total.fund- aquitY: ;.6,417.,422` 4,769;614 11;187036. f'
F'
Total` liabilities .and .fund a 'ui :$7000,919 838'36'1 11 839 280
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`42'
"CITY ,OF TnGARD;~ OREGON
ENTERPRISE'FUNDS ;
COMBINING STATEMENT OF REVENUES, EXPENSES.AND
CHANGES,IN• RETAINED EARNIN. GS
foc.the.fIscaI year`d ded June30;1992-
r ;
'Storiii
Sewer Drainage
- Fund Fund 'Total:.
OPERATING V`ENUES:'.:
a" Service charges $ 968;911. $ , 563,830: $1,532,741
Miscellaneous, 384' 53 '437
.,Total,b eratin' revenues 969;295 563 883 1.533 178
OPERATING EXPENSES ;5.
' Salaries and :wages _ 474,893 330,364• 805,257':
Contracted, services " 11,471 2;958 14,429"
General, and>administrafive and.other_ 193;970 134,937 328,907
Depreciatiom_, 166;209 398;777
232;568
::rota: operating' expenses'° 912,902> 634468 1,547,370
:Operating income-(loss) 564393• (70,585) (14,192) .
NOINOPERATING`REVEN UES -
Interest. 74;486 45'060 11q;546,-.'
.a Income -before operating transfer 130,879 ,(25,525) 105;354
Operating-transfer-out' ` 7( 0;300)" 44400; 114"7b0':` T J
Net:income(loss)
' 60,579 (69,925j. (9,346)
Add depreciation on-:fixed assets''
:donated or ir' ro
'
acqu ed f m ca ital ,
contributions-that 'reduces
contributed capital " 121;707 11'3;361' - 235,068
Increase:in reiaiiie&,earnings 182;286. _ .43;436: 225,722
%
RETAINED EARNINGS = beginning of year _ ;1,464;6'12 133'848: 1,598,"460
RETAINED EARNINGS, end of 'year $1,646,898 s , $ 177,284 $1,824.182
r `'1
" .Z'• - n ,jam - - 11 ,
.CITY OF T.1GARD,' OREGON`
' ENTERPRISE F•.UNDS
COMBINING'.STATEMENT OF.CASH FLOWS „
forthe=fiscal.year,'ended Jurie,30.1992.'
.`7•Jtorm.
Sewer„ 'Drainage k
r. ,
SFurid' Fund T taI
0
Cash'flows fro in operating•activities:
Q eratiri income loss)'- ' -56;393 x 70,585 $ .
P 9. ( ( (14,1§2)
Ad1'ustments to;recoricile:o e,ratin
to net cash'' rovided
in I
comaoss
( P
b -o erating . activities; . '
Y P 9 _ k
Depreciation 1 232;568 166,209 398,777
(Increase):decrease',in accounts.:keceivable' (119;240) n 1,321.` {11.7,919}
_ Decrease in due from - r
` from other..funds. l 101=818 23,569 ys 125,387
,
IncseaseAn- accounts payable
and
accrued' liabilities 185;936 -12,71,9 198,655`
Decrease-'in accrued vacation a _
a `able t; 8,759 3808 12567
In •r
c ea a in' mn
s assess me tsp.
I
eceivab es 9
47 ,47
9 9, 9•fiIn r in f` -
c ease d'e erred revenues :6 814 6 8,
14.
7 77
Net, cash Provided`. by
operating activities - 446,051 129;425. : 575;476
• _ Cash flows-from noncaPital _financing:activites-'
' bperatingararisfers'out '70,30.0 44'400 114 700
y
'Ca'sh-flows from
caP-dal~andrelated.y
fin rci in - =
a activities:
:
Cap ital n triii 1'n co t but o s 171;25,7.' 171257
r A uisition of.fixed a e 271' 7
cq ss is 99'2 3 925 '275 91
Net cash provided by (used in)-capital ;
,and r'elated:financin9`activities 342292 122;932.F 219-360)'
( :Cash flows,from ihvesting activities
_ Interest-eaming s: 74,486: 45 060 119;546`
g
4.1' T
.C r`-
f w
N 'incr
et ease in •cash'-and cash - ,
ei uivalents 178,245 "2 „q . 97,41T'
475,662
jt•'
Cash'and cash equivalent's'=:beginning of.
Year 1340;093 651;342_ 1,99] ,435
Cash •and.-cash;eq`~uivalehts-end of yea .$1-5, $
948759 2467097;
1:. V
44
CITY, OF TIGARD, "OREGON' '
SEWER'fUND -
} SCHEDULE OF REVENUES, AND EXPENDITURES --BUDGET AND-ACTUAL w ;
a. for,the.fiscal year ended June 30,+1992- r,
. c . Varlance'
Favorable
Budget.,' sActual (Unfavorable)
REVENUES:
Service, charges .;,:,$-J-,056,500,'
$'1-;056,500:• $ ..968,911. $ (87,589)' `
Interest 56,250 ' 74;486 :18,236
Miscellaneous 384 384
77
` Totai revenues 112 750 1",043,781"., (68;969):
"BEGINNING WORKING CAPITAL` AV'AILABLE'
.
, 1:;187;603. 1;250,302 ' :6269' FOR' APPROPRIATION,-,
r,
27,
~2:24• 6 0
/T otal, 2300353.` 9 083,Revlsed Variance
Budgeted' Favorabie`
Appropriations. Actual '(Unfavorable)
le.EXPENDITURES--Communfty.develo
pmeet... $-'.'437;681 425;627 $ 12,054
"
Policy-and administration . 253;026 , )46,389. . 6,637,
City-wide support function`. 61382 J 54;415 ° 6;967,
Contingency 396,000 ' 396;000
- Capital projects 1 -152364'• 236;003 916;261
,Total-expenditures'' , 2;300,353•: 962,434,-4,337,919
' OTHER FINANCING USES - -
r Ope`rating_transfers out 70,300 70,300)
$1,267,61.9
'Total `$2300,353 $1,032,734
N7
-CITY',OF, .TIGARD; OREGON-
- ' . - - ;STORM DRAINAGEFUND;' - _ - - :4
• = SCHEDULE'OP REVENUES AND"EXPENDITURES - BUDGET.AND ACTUAL..:.
r for•the•fiscal year ended June 36.,l bk.
Variance.,
:Favorable
Bud of Actual (Unfavorable)
REVENUE
'S. c' h"
eYc
ar es
86 Q00
NI V735.087` i - 50.913•
Interest `43,750 -45;060 ' 1;310=r'
.Miscellaneous Y
z, 53.- :53.
L _
Total revenues 829;750; 780,;200L 49 550
BEGINNING WORKING CAPITAL AVAI
L LABLE.
.5
rt
FOR:.APPROPRIATION''
`,676,806 ~ , 690,074 268•~;~
i•
Totaf
_ 1''`506'556` "'-$1-470,274.:
.
Variance
Bud
e
d get
9et
=Fav
r'
5
Appro riations ACtu 1=
p a (Unfavorable)
.f
EXPENDITURES:-
;.Community development, ' 333;396` $,✓285,960:, $ 47 436
Policy and administration 124679 120 20,430 . 4,249.
City-wide„support function 23;033" 20,418 2;615=
Contin ge 27 r Y270,000
ncy 0000
Capital, projects 755,449 49,096 706,352.-,.
`Total.ekoenditures . _ 1,506,556 i:.r, :475;904 1:,030,652
OTHER FINANCING USES:- =
Operating .transfers out 44,400 44400
T r
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- '506.556.
S2
0,304. $ 986;252.
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FIDUCIARY. FUNDS
These. funds'account for resources received and:held by,the City iwa'fiduciary.capacity,, D,isbursementsfrorhlhbse'I unds'are
made-in'accordance wfth,the:trust'agreement or.cbaditions•of the'trust forthe particular fund. .'Funds included in this category
i are:.
Agency Fund:- Deferred Compensation•Fund
Pension'Trust_ Fund. = Gb L eral`Employees Pension ,Plan -
CITY .OF TIGARD, 'OREGON;
AGENCY`.FU,ND,-' DEFERRED COMPENSATION FUND
STATEMENT°OF_,CH' NGES'IN.ASSETS AND1IABILITIES
for the fiscal year ended June 30, 1992
Balance Balance
June 30; June 30,
1991 Additions- Deletions 1992
J
ASSETS -
Cash and investments. _ $ 7.4;7,201 $ .180,537 29,673. $ ; 898;065
LIABILITIES -
,Deferred borripensatiori
payable; $ 747,201 180,537 ,29',673 $x,898,065:
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GENERAL FIXED'ASSETS'ACCOUNT GROUP
This ou group accounts
other.thari'.those recorded iri'the Enter cise`Funds:.-'
acc nt :fdr,th6jixed assets.of the0tY P.
.
CITY OF .TIGARD,:OREGON'.
SCHEDULE OF.`,GENERAL'FIXED. AS8ET3 BY SOURCES; '
"June 20, :1992
'f•
GENERALFIXED ASSETS ,
.$2;064008:-'Land'
-Buildin
F
9 8;59
Equipments 627,754:
Autos and trucks 930',960
-Off icg equipment _ 855,904`
w.
Total investment in,;general:fixed,`as'sets 208,120
{ $8,
INVESTMENT, IN GENERAL FIXED, ASSETS
BaI-anc
ce beginrnng-of year: ;$7,684,318
Additions were provided: by -
s'
Gen Y - I F.
` -
e a und~
Retirements 79,882
a a ce:-:end'of year (;$&,208,120
CHANGES:IN',GENERA L.FIXED;ASSS...
=Autos'and' :Office
Land ' Buildings;: Equipment : Trucks Equipment Total
.Balance beginning b ,
year ' $2,`062;820 ,$3,449;220 $ 567.737 ;$,'825 484 779'057 7684 318
• a
-
Additions from'
{ General Fund 2 088 279;374 -107,024 "-126;27820 `;9" • 603;'684
peduct
' Retirements. ( `47,0 7) 0. 14"802 1.8,073) ( .79'882)
Balance erid-of
ear. 2 ; -
y ,064;908` 3 728-5
94 ' 627 t4`,: $ -930;960 855904 $8'208;Y20
49
CITY.OF'TIGARD
SCHEDULE'OF GENERAL FIXED`ASSET$ "
' BYTUNCTION N-AND ACTIVITY-
June ' 30,•'1992
Machinery,
Equipment `
' 'Function and Activity Total an Buildings and Other
Community services: $Police:
;673,120 $ $ '.673,120
Finance
8,061 8,061
Computer service`s 31,073 _ 31,073_'. counting. 32;657. 32,657r
AdfninNnsk - '4729, 4729
i_
Off, ice services ` 48;537 48,537 '
Records _3460'6 34,606
Court
7,754. 7,754
Library, " 26871'8'-:,268,718
Total community Services 1,109,'255 1109,255
Community; development-
' CD-Dev serv, admin 43;420 .420, Building 43,64 .9 43 649
Planning 23 437 ;23 437,...
Engineering 1 fi2;006 162,00:6.:
Operations/.admin'
. 55,351' 55',351
Operations/shops: 61,421. 61,421
Streets - 6;.489,792, 489;792
Parks 237,1,16
Operations /managemen 237 116
t 4973 4:973
Tofal community development 1,,121,165 - 11121,16
5
Policy and administration:.
a, L*
" M V' Or.and. ,city -council 8,809', 8 809
City administration 19;362 19,362
'TTotal policy and'; _ ; • - ,
. administration 28;171. •28,1'71
General government. 5;949,529 2;064,908; ` 3,728,594 1°56;027.
Total investment'in general fixed assets '$8,208;120 $2,064;908 $3 728,594 $2 414 618
' 50
tw
'.Cl-NYb ,TIGARD ;
:SCHEDULE OF.CHANGES`IN GENERAL FIXED ASSETS-
BY FUNCTION,AND:ACTIVITY
for ttie.fiscaI .ear, ended"June.30 1992 4■
General. - - General
F
Wed. . Assets: Fixed Assets.
Functton'and Acttvity5.. June 30, 1991 Addltlons li6ilrdments June 3071992•.
Co mmu`nityservices:
Police L $ ' '596186 127;135; .50;201) $ r 671120
Finance =6,711 1;350` 8,061
Computer services: 20,762 19;7,1,0 . (9,399), i' 31;,073 } i
1. f
Accounting y 479. - . 1;178`,'. 32,657
Admin/risk 916 4,729':
Office=services. 39,284.:, - 9,253 48,537-
' 'Records. ; • : t 34,606 w: 34;606
COU rl
- - '•7 754
7,754-,,
Library. 242'425-`-,- 26;293 '268,7.18<
T' i<
ota communty:services` 983020;A~ 185;835 59`800 1,1'09,255--
`Communitdevelo -merit: - - ~CD,-'Dev: serv:.admin:` _ 41;695 1,725 43,420
,,Building"_ : :42,353 1';296. 43;649.` ?s
;Planrnn.1.3'699 9 738 23 437 '
, ,
Engineering- ,146;652' t ' 16185 (831) 162,006
Operations/admin a 53;291 2;060 ;55,,351`
i' n
O at o s/sh
o S.
'S4988.
per ..P:. - , . ' 6;433 ` • 61,421 ' : • .
Streets " 44,0 500, 56'394°° ' 7102 489 792
Parks
193,258 53`363'" 9"505 '23711`6
OP' aratio' ns/ma, n
s mn
-e a t'• 4*
8: • '-'475 ••4,7
9 - 9.3
Total•communi develop nt 99 4 '
community. pme 90,93 147;669- 7,438 1 „121,165
Policy.and administration:
May or. and,ci `council.,
y ty, 8;809 8,809
56 S
City administration 19
1`3'450 44`
. 8
Tofal policy and'adm'i'msitation :17;565 r 1$,450 28;171-'Jr _
'
nr
Ge
a aL. overnmentI 5 692 799'•
256 g,730--- ~ • 646 62i
:Total- investment1n. general
fined'°assets' 7'684'318: '
$ .$_:"603;684 $ 79882 2081:20
v,
.M
Y•
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•2
puLES'
S this'sedtion are. t
ed in
ehedu.les includ Balances _ ,
"and Outstand
.
actionsptopedy- Tax-Trans
rest: Transaction`s>' ds ,
on,
nd "Infe. en Bon
.and ..Bo ncroft:
Req ►mprovem
uirements of Ba
Future; Debt SeNice' . ; dal pbligation Bonds
Requ►rements of .Gene f
Future Debt Service
( •f ' ire * ✓
: I - - ' - z ' ' - r - , 11* ' . ~ - . " I.. . - : I . : - , - ~ : - " , . . . ~ , , . I --i , , . I . , ~ * ' ' ' . - , I ~ , I . . . , - : , ~ . ii~'
N,
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" TIGAR
° CITY ,OF
, OREGON-' ' _
Y
. -
t' ' `SCHEDULE OF:PROPERTY TAX:TRANSACTIONS ,
• AND- OUTSTANDING'BALANCES, ` ,
:1 il -1 ,
;.for. the fiscalgyear~ende-d June'30, 1992
• . - : A.a Pro ?Add:,' _ I z 't -
perry r` `
Pi'
t.:.' gperty`,
s.
Taxes, Levy. asa . ' - -Taxes-
Receivable. Extended .Deduct: :Receivable
,
June' 30;:' I3- ~ a Dlscount§ Deduct- ' 'Add , Deduct: -June 30; -1
s
.1991 "Assessor -Allowed s ' t Adjustments Interest _ =Collections .1 z
'1992 '
- _ _ ,.1 - .
r. ,
.C , . _
•k
- .'^L
1991-92' $ $5;1.48;022 4:(.110;574) _ (74,282) 4+ ;024:; $(4;71 ];610) 249;580,
E'r r . f ; x I .1
.'f'.' _ S -
t .
1 _
990 X91 22 ~44
8 2
51`
60 -1 :1' 7 . 69 144,943
90 036. .
4
1989-90;_ 9,1,,340 ~ (9,779) (8;647-.: :(39,903) 50305
. - - ti
13 714':
1988 89. , 35;496 (1,305) 7,152 (g7,,629)-_,.-,,_,.
.
-J.' .r - _
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' - . - t
1987_88 12 24' '
,0 ,094) 13,;M2 12 485 µ 2`707' t:
_ -
- i- _ . - -
1986-87- .5;616 - J1`391 ;1: 211 3087 2'349' r'
a',
-a d` "prior, '
" - <
, t:
'
- $372,918 $5;148,022 ' $"('11.0^574 (92"42j1 $36;403 $(4 945 657 $ 408,691
" t
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. -
- •
- - -
Property ,Taxes `
-Cash, .Receivable •_•x.
9 ; ` -
l . `~Colle'c'tlons.~ :f'. June;30, 1992 ,
, f. -
^
bi ri
o 11 ows: r
st bute as f
, d
' , - General%Fund: s_ <n .
c' Cu ent,.' Y` j266 945. - 172 83,4-
Pi
r ' r vi
or.,Yeas'l e vi
153 461 104 009
t ,
Total General Fund : ti 3 420,406` `276;843 _
.y. - - .i -
f`..
fi
I
Debt Servide•F6nds° . 1''
.Current , . t '1'4561'66... 76.746 •
f Prior. ears' levies -74,586' 55 102,
't=
M
.v.
, I, r
fotai Debt Service f - 1,525;251 131_;848.
1 r 'r .r
Total $4,945.,657.; 440869.
' ,
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CITY OF TIGARD OREGON =
• SCHEDULE OF,BOND•AND BOND INTEREST TRANSACTIONS
for the fiscal; year, ended June 30,•1992
Bond Transactions ' Interest Transactions '
,Out Out- Out
Out
standing " standing • standing'' " standin
Original June 30, " . June 30 June 30 g
„ June 30,
Bancroft Bonds Issue :1991,- Issued' Matured`.
Pald 1992 1991 Matured' Paid` 1992
: Issued:August=J," 1975 57,840$5,000.., $ '_3.000 $ 15;000 . i 735; $ 735 < $
Issued November-l,. 374;795-': : '60000 ,60 000': .60 000
586 3;570 3,570 _ 586
Issued September 1; 1982" 184,664' 120,000 21.0,000 10,000. 110,000- 835. 72,640 13,206 ' 269 _
, , _ AYr
Issued October 1, 1982". _•"-1,371,200' 405,000 ° 190,000 190,000, 215,000 705 28,532.. 25,526... 3,711 .
Issued September 1;°1984.w 492,000, ",'255,000'58,"6k- :..'55,000 200000'' :-1'457 19`998 11 168' 10287'' +
Issued _Decemberl; 1989 :340,000, 285,000.: 20;000 = 20,000 265,000 16,540 16,540' !
' •ISSU@d August 1990 2,244;000 2,244;000 89,000 89,000 ` 2955;000" 138,415 138,415
n 'Issued. Au ust, 1.,' 1991:, 405;000 405,000, t ,
9. 405,000 12150 .12,150 j
"'$3;384,000 $405,000 $ 427,000 424,000 : • $3,365,000 $ 3;583 $ 232,580 $ 221;310 $ 14,853
'f - - _ - - -
General-Obligation Bonds..
lssued:June 6,; 1984= $2;200,000 245;000;.:', 75;000- $ 75;000 $ .170,000
$ ".24;170 24,170 $
Issued February 24, 1987 2,215,000 2,045,000,' ; 40,000 40;000 2,005,000 118;193 118,193
Issued.'May 9; ;1989: 8,500,000`-•- 7,630;000 575,000 575,000 7,055,000 520870 505,671' 15;201,
$9,920,000 $ 690,000 $ `690,000, 1 $9;230,000.: $ $'663,2W,.' $•.648;034 : $ :15,201 "
_ •
_ - • CRY OF TIGARD ~ 69t6ON"
SCHEDULE OF FUTURE DEBT SERVICE'REGUIREMENTS '
OF, BANCROFT.IMPROVEMENT 60ND8
i'
As of'.lune 30`1992
issued: Issued Issued issued Issued Issued . <Issued
August 1; 1975, September 1,.1982' October 1, 1982 < ;'Septemberl; 1984 December 1, 1989 August 1; 1990Au usf 1~ 1991 .
a 9
:Yea~:of; Total•Requlrements .6%to,7% 10-1 A4° i '114/4% '-;..8-2/10%to13-114%7.6%to16%•' ' 5-3/4°%-to6-1/5% 6%to,6:5°Ge.•: 6% 7
"Maturity ` Principal Interest- .:Principal.. -Anterest` ".'Principal : Interest : Principal ''Interest '_Principal' InterestPrincipal.- -Interest, Principal Interest- Principal ' Interest
•1992-93' ` 414,000` `$;209;591 $ 9,000. $ 525 ' 'i$ 10,000 • $411;628 $215,000 $:9'943=: $ 80,000 $1 06 5- $ 20,000- ':4,15,385' 'y $100'000.".$132 745:'- 24,306
1993-94.. - 2031000 185,635, 3000 315 `10,000 ' 10,590' 65;000 9;610'._ 20,000 14,225• 105,000 126;595 24,300
t.
-
r,
1994-95.1 1
`2 8,000 170,507 's 3;000. :105 " 10,000 9;527 75;000: 3;325:. 20,000^ = . 13,055 110,000 120 145•` 24'300
1995-96 ;-:145,000. 158;005 10,000, 6,445 20,000 14,665' 115,000 113 395 3 Q4'300 -
1996W. :155,000 , " 148,448"• - 10,000 20;000 ' 10,665 1 `•125,000. 106 133 24 300
,
` rJ.' Y
1997-98 - 145 000 138'812. ,10'000. 6,245 10,065 135,000
- ;'98'202 ~ 24;300
1998-99. ,155;000 129,085 - - 10,000, 5,130' 10,065 '145,000 89,590 ~24,300
19-200 68,000:,".
0`+, ;325. 0 113 745 10 0004 005 5,6q2: 150 000 BO'408':
99 24 300
•2600-01 ' 175.000, 97,692-
.10,000, 2,P70,- . 165000 70522 4
_ 2 ,300 > _ t
2001 02 415000- 91 350: 10 000 1 725 65 325 4
05,000 : :24;300, -
x.
•2002-03. 10,000 65,900 .10;000 575 _ 65,325-
y-
2003-04 ` - • 65 325 ' , 65 325
2004-05 65;325. a r 65,325.
s
#
2005-06 d 005 000 32,662 • i'_,005,000 - 32 662. '
7777 777
T 082-" 15 0 0 1, -215' 000 - -$,,9,943, < 0 28050' 265 000 , ' 4 5- _
$ $'90,357.:,$2,155,000--.'$1,231,697,, $ 0 ,000' $249,000.
orals, $3;365;000,' $1,67 , $ 0 $ 9a5 $1.10,000 $68;b 90 $ $200,0
- -
CITY OF TIGARD9 OREGON
SCHEDULE OF FUTURE DEBT,SERVICE REQUIREMENTS
.•OF GENERAL OBLIGATION BONDS
as of June 30, 1992 ;
Issued : I Issued + Issued
June 6, 1984 February, 24, 1987 Mey ],,1989
Year of Total' 9:7% to 10.60% ' 5.95% to 6.40% to 6:7096 '
MaturiPririoipal, Interests; P_rincipai' Interest :Principal ,Interest Principal, ' Interest
1992=93 $.-120,000 '$,6191845 . $80,000 $ 16;670.- $ ` 40;000 ;.;.r$ 116;192x' 486,983- .
•1993-94:. .i . '830;000 568,770 = 90,000 ' 8,910 45,000; : 114 ,1.52_ 695;000 ,445,708
1994'95. ` 945;' 000 ; 508,910 . 145,000 ' - .1 790 800,000 397,120 -
199596 1055;000` 445,598x, 155-,000 104,178. 900,000 341,420
.t
1496-97 1166000 74`1 '
3 3
2 165
00 95,653' 1,0W060 278 470'
1997-98' '..`:+.1,270,000 .294;783 U..` . ` ' 170,000 86,413..'-;` 1;100,000: 208,370
1'99&90 1,415;000 206 953 185 000 76'638. , 4 230 000 :'130 315'
1999-200b 1`,525,000 , 110`,555 ^195,000 ' 66,000 • ' . 1,330,000 •,44,555
2000-01 ' 210.000 54 300 •210,000 k300
200102. 215;000 i 4,1';700 215,000 Al 700
2002-03 235 000 28 800
235,000-1 28,800
_ 2003-04 ,245;000-- ' . 14,700' 245,000 14,700
9 230 000 3697 0+-0
$ $ ,2 ,03 $-,:17 00 $ 25,580` $2;005;000' $ 910,516` $7,055,000 $2,332,941
55
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. CITY OF TIGARD, OREGON
GENERAL GOVERNMENTAL' EXPENDITURES BY FUNCTION
.BUDGETARY , BASIS ^
.
ast -teri' fiscal years.
for the I -
.City=Wide.
Su rt
ppo
Functions,, ;
Fiscal' Capital'
Year Ended.. Community Community Policy ands'' Projects. .Debt..;"
June 30 Seces Development ' Administration and Other Service •Total ;
1983 1;527;913.c 1,126;758 1.54,184. 367,684. 212;283;388,821_., '
:1984.; 1;;680,374 1,507;879 237,028 .241,984. ` 449,545 4,116,810
1985: 1-;592;319 ; :817;741 114,787; ',1414,569; ,71'0;366. 4;649;782
1986 2,'157,622' 968,778 1,32;846 3;010;368` 797;154- 7,'06,6;768:-,
7 '71
1987 -2,450;459_• t . 462;456 111,909, `1;183;467" 808,888•_ 6;61.7;179`
1988' ' 3;042;321 - '1,764;513 12];016 - 1,452,-149;.' 785,234, 65233
1`989 3,357;664 ' 1;980,927 112966 ' : 3,1.7,7147 1,772;739 9;4011*,443,.:
1990 3539;680: 2,096,431 253,593... 4;977,930 •3,;481,870;:: 14,349,504--,--
,
1991 4 347 338.I' 2'558'534 ; 281 X180. / . - 7216 336 4157 959 :18`561 349" .
1992,.. 4;520;483_ 2,466,,774 1•,;157;205, 4;001,521'. 2;,643,174 14,789;15$
Information derived from Comprehensive;Annu`al.Financial Reports.for all Governmental Fund Types
r
- .
r,
.
. !
I
t CITY OF.TIGARD,,OREGON
w - -`j ."'GENERAL GOVERNMENTAL REVENUES BY.SOURCE' BUDGETARY, BASIS, • ; • - . ;
r 'r• ,for,the'last ten flscIa years` . , ' • 1-1 I . . 4,, -i
,
Flacal'
`Year, -
i 'ter-'cna' '
Licenses n r
9es
,
_
Ended Franchise' and -Governmental f, . ,Fines:and: Miscellaneous. . _
June 30 Taxes Fees" Permits' - ..'Revenues. Seivice"s , Forfeitures' Revenues'' 'Total- -
' '
1983` . _ "728641, .449'7.78.',:: : ti' : 4
347;798 1,,456;325..'.44 3,460;,' •55,651. 1,235,04 8: 4,316701
. I ~ _ . , . I ~ I . ~ , . ~ , . . 't.
. _ ,
1984 ` 904;238'. ; ''468,020 '286,318 921;613 ,243;102'' - 701425 : 932,657' ;:3;826,373
- _ "
1985 89T
843 591.,246 524,059: : T,058,600 413 .124' 134'040:\' 1 195 098` A;814 010 -
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1986' - 1,226,373 , ^.941,26,4" ' 548;689^ , 1;371:,804, 3' . 2, - - ;167,610. 903;175: " `:•5;534,897;" - 11 '1987- 1•,807,800- 745,520x= 650961 _ -1;246,8.40' 382;384 1,44,559 'J,127693 - 6;105,757 .
. - _ - . I . _
1988. 2,152,792 849,844. 1 031;018 '1,220;779; 514,048 254;154' -i. ,1,160;39.1. 7,183,026,'
. 1989 2,408,59.7.; `.1,031',791` :1;059,725' 1,517,777,, °599,002 240,849 ` '..1•;1,13,'184 : 7,970,925 .
- r: - I
1990 3;246,834`. 1;100;181,' 1';445,011° ''2,040;71.1'q 39;818" 232,332' 2,j83!,1) , ,`10;788,093,'.;
- , r
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,x` '1,287,794,; 1;659;542 .'3,050;675 102;081', 322;ti18 1;464,811.,'_' .°12,850,850.
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CITY. OF.'TIGARD; OREGON. ;
' PROPERTY TAX LEVIES AND, COLLECTIONS, .
for-the last ten fiscal ye'ars•`
Percent-_: Percent ,
fiscal Total Tax Delinquent.
Year Percent -Dellnquent°_, ' • Total C®Ilectlons .Outstanding-..• Taxes
Ended "'Total : Current-Tax of ;LevyTax' Taz " To Taz Detlnquent to Tax-•'
" June 30: ' Tax Levy Collectlonss, Coil'ectlons, 'Collections- - Collections Levy Taxes Levy
s i ,1983 817'642 722 ..88:33 :•w y42 635:: 764,856 ' ,93.54 , :130` 01.0 15'.90`
1984.' 985;234 876,2T5 -'88,93 71;058 947273 96:15 • 158,045 ; 16.04
' 1985 "962,'280 ' 864,334.: 89.82 Y90'687 955,021. 99.24 164;558 12:10 .
1986 1;283;7:11 1,159;480 , . ' '.90.32..,,.. 98,222 "1;257702• ' 97.97 181,944 14:17
1987 1,946,727. 1,773;229 . -91.09 114,319 - 887;548 - '96:96 ` ~ 21.6,864'.' 11.14
,1988 2,229,.786. ' -2;023;790 90:76 12.4;62,1=48;449' -96.35 - 254,595 11.42
1989, 2,455,9.1'4:: 2;240508 ; 91:23 ; 150;51.1}' ` . 2,391,019 97.36 • 289;212-. 11;78: w'
1990. 3;812090 _3,520,898 -:'92:36 ' - 193,334 -.3,71"4,232`. 97:43. :332;144: 8:71 , .
1991 41266;155 3;918,774 91:86 224;988 4;143762: 97.13,: 372,918, ..,8174,-
'
1992 5'148;022 4717610;_ .91:64' 228;047 4',945,657, 96.07. 408,691 7.94
T•z " I 1 -ch'. ear,and:are a able in three installments,'without interest on Novemkier_15 Fetinia ,15 and Ma 15.. %IMerest is'char ed
a es are levied .as of -Ju y ea Y P Y. _ , !Y Y , 9.
at the •rate,of.1%permonth on-delinquent taxes: Tax. liens are foreclosed after tFiree.year 's delinquencies Taxpayers receive.a"discount°of 3%'for payment m'
.-full by November'15 and 2% or payment`of,two-thirds of the total taxes`due: -
Information der'ived.from Comprehensive Annual Financial Report
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'CITY.OF'T111 A RD . -ORE G ON
. -
ASSESSED AND. ESTIMATED ACTUAL' VALUE-OF. TAXABLE PROPERTY,, =
or the'isstY e , _ _
„ f ten. fiscal: are:
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. ' - Retlo of , .
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- - Total''
- -
Public Assessed .
Y Pro - ,Total:.' - to Total
party
Fiscal' ,Real ProPertY' Peisorial Pro PeCt Y r Utlllt
Year Estimated - Estimated ; Estimated y , Estlrtieted Estimated.' -
. - - - E
tu ,Assessed'. ' t
. Ended Assessed" Actual Assessed"` Ac el Ac ual Assessed` Actual.; Actual
June 30` -,'Value Value Value - Value Value` Value °
i Value- Value value-.. = '
"c -
. ``;;a'='22 611'500 '26 57 r 0 .y: 611 03'7 .
46,800 7 4 5;70 : 33,540 '700':--:,39,470'2!,O
1983, 630;09,900" 0,277. 686;199,00 ,75 9
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1984 712347 200 786812I100*-,-, '37,192„100 -„40;973;59b~, ' "26,504,200` ,29'153338*, `776:043,500 856,939;028 91
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_1985. 779,545,300 813;339,300 44;855,600; 46;750;700 28,347,800!" 29,528;963 852,748,700,'. ,'889,61$,963 - 96
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40 .10 32 222 :1 " 32,222 8 927'-.' ' 100
x1986 824,906;'100,, 624,906;100' 49,240,710- 49;2 ,7 .1 ,'117= 906;368,927 906;36 •
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F
868: ' '95Z 116`868 ' 100
9 '867 279 500' 667,'279_,500, '81 379 940 .6137 9 940` 28 457 428 ' 28 45T428` : 957 1164 .
1 87
1988' .1,057,575,500';- ~1,057;515,500 • ,86,7,33,050 - -86,733;050 , -_32,526,302- 32,526,302• '1,1J6 74852 ;1;.176;774,852 . - 100,-
' Jr. ` •1 100. "
-_,200,591,600 } , 93,401,270: 93;401,270 32;T31,292 , 3. 2, .31.,292 .1,326;b14,467 ;,1,326,114,462 . ,
1989 1;200,581,900 " -1
cn . ,
1990 - •:'.1;278,1,28,284_' 1,278;128,284 v; 106,268,976. 106;268,9764': `,,'38738;512 ; 38,738,512' . "1;423;135,772 ='1,423,135;772...':; - ,100, 1
7,. '
I- -
394 724' ' 115 983 044 •11 .5 983 64j*_:' ' 36 707-073: .`36 707 073 1 X588 0.84'841' `1 588 084°841 ''t 100
1991 , . - :,1,435,394,724• 1;435,
1992 ' 1' 755 342 623 ' ~`1f.L 3446i3 • - : 1,14 457 543 '114 457 543. '40;526,27.1 - 40;526,271= M1 -1;910,326 437 1' 910'326,437 . ~4' 1
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All ro ;is assessed as;of Jariuary.l',"precedirig the,fis a y g g y. °;x
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ent'o' Asses
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CITY OF'TIGARD; OREGON
PROPERTY TAX RATES =DIRECT-AND OVERLAPPING GOVERNMENTS.
(Per. $1,000 of Assessed Value)
. for the;last ten fiscal years
Washington, Washing, ow
;Fiscal , Metzger Tigard `Beaverton = County County
Year. F Metzger, Water:. 1 School- ' School . Tigard ;Unified" Tualatin Fiural-Fire Portland , Education , :Other'
Ended -Water District. City of ;Washington District District :Wstar `i - .°Metzger' Sewerage ` Rural fire Distrlct `Community Service- Jaxing
June 30 District Coinbined' :Tigard',-, . County No. 23 • No..48 • District • Sanitary Agency. ' =",District:' No: 1 : Coble a District Agencies = ;
1983 1.12'. ` 4:02:. 13.01.. 14.76 51 : 55 3.28 2.70: .57. 26 1.23
1984 ; 1':18 " 1.88 12.67: 13.97 36 _ 61 3.15. 2 70 ' 57 26 t' 48
_
1985' :1'.06' 1,97• . : ;.12.12 13.76 :37`.' ' 49.• 3712 " . 2.7:1 +
57 .26 1.62
1986 1.35 1:93 11:55 13.25 32 :.36 2,60 2.65 58 " .25 1.48
.
.1987,:. 1.94• 282 11.36 - 13.40 271 2:99 2.61. 85 " .25 - 1.66
1988 , ' .03 2.03 2.81 12.10 13.13 19 _ 24':. 36 2.70 2.65 " 89' : 26`_ > 63
• .1989 02':.':.' .59 1;98 2.95: 14.46 - 16.49 . ° 15' 36 . 2:49: 2.62 92 26 7,3
1990. -.02' :.61.. 2:79. 2:02.°' Y.14.54 16.ti713„. ;
:27 2:52- 94 26- 1:69
1991 .02 : .53 . ` 276 2.94 14:60: 15.82 .25 2.41 91 25 - 57 `
1992' .02, . `48 2'76 1.41 ' 1613 )09 19 - ` 1.99 .81 .21 - " .49. "
b
Tax rates, expres"sed in"dollars and cents'per.$1 ;000 of assessed value of'tazable'property in each taxing district, are required by the. State Constitution to:be uniform throughout the district. -
Taxes- levied'rriay be composed of throe.types.of levies: (1) a base-operating levy, (2) a special operatirig levy approved 69 the voters in the district and (3) a debt service levy.' The,opera6ng levy may-
bel ncreased annuallycto 106% of ttie- highest levy in.the prior three years,' 'Levy'in`creases: are . permitted,, in the year following expansion of a.district s boundaries; :Special operating levies "may. be approved
for periods not exceeding 10 years. _Each district with outstanding.general obligation bonded debtis required to levy taxes sufficient,.with other. available funds, to meetprincipal and interest payments when
due.+
Assessment and tax rolls .are.'prepared,,and'maintained'by Washington -County.for,all taxing" districts with territory' in:the County.. The "County collects all taxes`against property,im;the,County (except.
assessments,for•improvements chargeiiao-benefitted`propertyj and distributes taxes;collected ataeasf monthly: _No. charges are made-ta,the.taxing districts for.these services. '
NOTE: Not all t'axin districts rates are char ed on each parcel of, to
ert , actual rates on tax bills, Eire a combination of the."above .de "endin` up on the location'ofthe 'arcel- and the school district and
9 g P P Y p, 9 P
sewer and water:district:boundaries. Total-overlapping tax'rates for property in Tigard-in .19924anged from $22.30/1000 to $26.49/1000..
Source: _Washington,County Department, of Assessment and Taxation: _ ;
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.5' I CITY `OF IG R , O EGON"
[ - SPECIAL;ASSESSMENT:;COLLECTIONS ' ,
for the last ten. flscal'years 11.I
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r , 'Fiscal Year. Current Ratlo of otal
Ended ' : Assessments': " -Assess`me'nts ?Collections • Ou Ttstanding.'
June 30, Due 1 Collected (2)' ,to Amount•-Due- Assessments.
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.
1983 . - 34;795 ',775,749 _ 2`,229,5 2,75.1;37
6:.;°
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, .1984. - • -1'74,464 469,9'69- _ 269:4; 2;41'7;1.84
' 1985 ,200 000*~ 467;195 233 6 2552,;458
I .
:1.986:= 250,000 361;268 '144:5,1. 1 X945,334
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98 - 278000 547106 ,196.8: ':1•;56t-,03-6`-,
565 036
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1988: s. _308=000 } 532224[,; :.172:8 '1 218 351
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1989 328'000. ..372584• • \ ,:113.6, ",828 5'75
. . .
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1990 , 69 3- 00 < . '1'
0 ,8;8,094 , 18.1 89 , oo-;,
h 2'7
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1991 343 Q00 279 468.' , 81':5` < 3 181:495 -
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99 00 288 574 6T6' : 2 2
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(j)7 .s.: r . 1, nt.is equal to the matured ,principal ron. Bancroft improvement .bonds
~
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2 ,-:r;}Rep' resents:collections,of current assessments for- ~ Pa yment,of -Bancroft. im rI : 6ment, bonds as well ~as..assessment
O Y , . p
colt ctions . I projects for.whict such bond§`have not been issued: - - I I
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CITY OF TIGARD, OREGON' a
RATIO" OF =NET GENERAL BONDED DEBT. TO• ASSESSED VALUE AND
r NET BONDED DEBT, PER CAPITA
.for:-the'1aist -ten fiscal years` .
' Gross, -
General Ratio' of
r"
Fiscal . Obligation Less''Debt r Net, Bonded.
Year Bonded Service Net Debt toNet Bonded,"
Ended Assessed Debt Out- Monies ,Bonded Assessed Debt',Per:
June 30PopulationValue.- sfandin Available Debt Valuer Capita
1983 .
-1:8;287 - 776,043,500 , . 2,200000: - .2;200;000.• '.28' 120.30
198 1 t3'7: :'852,748;706'.' .2 2V 1 21 1 7 ~f.. 2.,
1
5• • 9, 00O.OQ5 2,.98, 85 6 1.15.Q4
,•20,250:• 906,368'927 w2';160;000,? 125,.133 2;034;867', `.22;: `•T00:49
1987:. 22,000 957,11.6828::.' 2665,000 38;85& 2;626,142' 27 11.9.37-_
1988 d 24,782 176,774;852 2,580;000 17,871 ,.,2,562129 ..21 103.39 '
•1.989' 25,602 1;326,1>14;462 10;990;000 ' , ' 45;028 1.0944;972 427.50
` 1990 27;050 1423,135772`--:11,990 ,000" 165664`' 1V1°,824;336 83.` :437.13
1991; ~ . • .
29;652 1;588,084,841=, 13',304,000"•..- :;345;050' ' 12,958,950 :82 ` 437.03;
• 1992 32,835 1,91`0;326;437 ' r 12,595,000"' ,620,597 11,974;403 ' ~ 63 . 364.68 ,
. There:wasno-outstandinggeneral obligation bonded'debt.in 1983:'..`
" Exclude's bond anticipation .notes payable ;
Soyrces '..City.`budget; ,documents;,. Comprehensive" Anriual Financial- Reports of, the'City..,and Washington {County
Department of Assessment and Taxation.: ;
62 {
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F f . CITY OF TIGARD; OR..,
- COMPUTATION OF LEGAL.DEBfifNARGIN'_. ` ,
June 30E7 1992 , `
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' :ORS'287.004-provides a`debt.limit.of 3%,of',the•true'cash•value'of'all taxable' property withinfthetCityboundaries:
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I ;,True cash value (1991=92) (1). . . $,1-,91 Q,326,437
General obli9ation'.debt:`limit-- k3./c
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57 93'
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• Gross~;bonded'debt 12 595'000
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Excludable debt -''Bancroft :improvement- bonds - (3;365;000) ` ; * w ' ' . i,, '
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Debt. subject to,:limitatiom - 9,230,00.0 ,j
-
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L'ega-,debt•margin amounf vailableafor future indebtedriess $ ',48;079;793 ,'r, _
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CI E~LArsp1NG 2 R
99
p~ pf pV dune 30:'.
CpMpVTA_, _ ut►t Appllc=
psr a 1e a Insid ,r \
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' - Ans d
t Debt, o{.Tl a 274
pNandln gi 06°~ 635
3 . 36, .
Isdlctlon 0 12;0615 ti 500 X370
juC 12,74() 0, 6 g » 435
o 4f°`p land
ct 0 0 1 2,463
10,245, 3:74611; 77
Vyashin9ton Count f ?60to~0, 22
era9a Agency 65, 10 gg1 421,748
Unified ,9909 , , - ~5 X47.' ' , . .
pist 73- 43
.Metro Service _ e:"pistr~ct F - , . 570,~d~ .118, _ - 9,464 Y,
~alfey Wat r 18 22,38
Tiaalat► Strict y 2,405,~~~. 53 5505 1 231 573
' Y;gard''Water 41,814,,404
04
oral Fire :District' 2.7930
' . Tualatin R . t 095 6
00
j .District it,
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avertcn"Scnooi ols 40
Oission
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Source ; , Oregon
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RATIO-OF. ANNUAL' DEBT SERVICE "EXPENDITURES;"
- 'r FOR LONG-TERM DEBT TO TOTAL'GENERAL.GOVERNMENTAL ,EX PENDITURES .
- for the last•ten fls' I years,, z ~
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FI - .Total 4 Percent :of Debt _
'
seal Year „ Total General Service to.
- -
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- En h
ded _ Debt , Goverrimental -Total General ' . •
J6ne.30, - ;Principal Interest Service r Expenditures: ;Expenditures. , `
-
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.1983:' 34,795 r 1.77,487_ 212;282 - 3,388,821 -6:3
;1
1;984:. 174'464 '275;081' 449 545 - 4 1.16^81:0 .1~ '
-
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1985 =20.0;000 51:0;366 r 710,366; 4.;649;782: .1.5.3
A ' .r.
x.1986 '290 OO0.I 7 1 4'
: > 50 5, 797154 7 66-67,68' •11:3' ,
, . ,
,
` ?987° . - - ' 348'000;•' ' `460 888 '808'888 7 17
6,O .1 y,.. 9 . 13:4:
- - 1988 ' `ti
' ,
39310.0.0 390,369 783,369, 7,165,233 10:9
- _ - r _
. 1 1989'. . 418;o' R : `354;739' J72,739, 9;401',443' 8.2
1990 " ' 2 383+000 - ' -X1''098 870 ` - '3"481,;870 )14' 349504 24:3'= . .
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1 3 03. 60 1 , 8;56 1'23 199 '.4;1,.57 ,3.
,.:4
- 1992' ; . ,1'664:000'•. ' .979 174'' - '2V64.3 174, 1.4 7
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ouce Comprehensive , Annual; Financial Reports of the _ Gity:
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r CITY OF TIGARD, OREGON
PROPERTY VALUE; .CONSTRUCTION AND. BANK DEPOSITS' '
n' ..for, the_ last'_ten fiscal years
Commercial, Residential
Fiscal Year' Coristruction(1 j / Construction(1)
Ended " Number; of Number 'of Bank,Deposlts
i June 30 Permits Value ` Permits' Value (in'thousands).(2)'
1983 ° 102: 3;940579: 244. 13,281;694 102,314
1984: 25,
4,079,306, 21
4 14,006,305 ° 118,124
1985' , 33 9;890;600 231 16,948;338 t F 129,152
1986 175,:, ' 12,746,938 432''. 26920.,055 1'42;031
1987. t69' 10,717,21-9'::'- 442 44,412;105 • 1.75;236' .
1988
228" 34
,991-,735 fi33 •32,524,988.` 165;107
1989. . 212 21,;.189 454` . 604 35 826 025 N/A'
1990 :32Q 27,495,457 749 .,40,729,414 N/A*„
1991 z: 62 27,985;499 '2 28;160,790. •N/A'
1992 37 31,498,832 218 24,259,243 NlA'
(1)"'From City''of Tigard Building`Department
(2) From State of Oregon'Department'of'.Commerc& Division of_Finance'and Corporate`Securities-'.:
.information' not available
i y
- ~ 'CITY.OF .TIGARD; OREGON;
PRINCIPAL_TAXPAYERS
-June 30,_1992..
7. ` • . Percentage'
r ' OfTotal'
r: Assessed, Assessed,'-,
Taxpayer Type of. Business Valuation: Valuation'.;.
Seiyu International Liricoln''CeriterkOffice..'Park' $ 54,042,;400 %
Nesbitt Partners; Embassy Suites, Hotel r 'r ..40;307,800
S r• L
qua a and Co.,,Ltd. Shopping Center 26,003,800 1;36,
.
GTE Northwest C mmyuni
. o cations _ '18,109,490, 's- 95_ -
acrf i
c'`I3I
P B • •iri *•Pa
ea '
us ess `rk'`t
- tY C6.'_,-
,15 902'470
.83 t~
Real.Estat6 !Equities Commercial Real Estate: 1'1;321,750 .59
•R6binson,:Chester L: -K61l'Business Center ''•1:0;435;8,00 :55 -
D rh
u am Park-',"
hoin
:S ',Center.: 9.495,900 - 50
1 i 1 79,2 z..
-Portland YGeneeAhElectric Power.0 erations".., 9
P r ,0 00,= , :48
VPFI
Sunflower Limited
arta ts-[:7.992 400•'; :'41.
• Am` n
Total Principal Taxpayers,. '202;69.1.,010'. ~1Q.61,
Ali-'
Qtti, er'Tax a ers 1;70 63
7 5 427=- :89:39'
Total' $1,910;326;432- 100:00 '
Source:[ Cit
Y of Ti9ard'Plannin9' DeRartment: • r `
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11scayeah -
pEN10 ten' s-- .
'the last - - ,
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unetoploymen
essed - P rt and)
,..y ; A afue ~3~ N1etr0' Area
af•YaXabl Soh meet'
property' En'ro 9-$
` - _ hj per Ce ita 6,56
Po.u 3$:,122 s 6s
6,3
iaCal Year 17 _ $50 ;42 qg6 , 7:
-1983, 18 , 616- ,
44,
z ti
6,47`1 5:^3
198A 20,250 ?59.' 064,
7 >050 4'.5
198 41,
% - 36 41,
1987 24 782 7"940",
1988 25 ,602 2 611 4 9
t - 5 •8,795 6:? -
'19$94 27 ,050 `53,?57
' 19g0 29 6 ; 58,15
32,835
:199A
, CensUS Center
format+on :Reseal
gources of in Qoputat►on.
:State. t 1n+vers+ty
1~, Po L bor Statistics:
S ureau °i a 1
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D+sti+ct
+jalatin sch i
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. _ . - ~ CITY .OF TIGARD;' OREGON : - •
- ~ ..MISCELLANEOUS STATISTICAL ~DdTA>•~~ ' •
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- Date bf:incorporation•' ~ ~ ~ -<1961., ~ - - - -
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'Form.of overriment~~ ~ : _ ~ ~ ~ • Council:-: Ma~ or~-.Admiriistratoc "
9 _ _ _ .Y..
`Area. • , _ - - ~ • 10.4.4`s uare •miles ~ - -
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t eets~ ~ z; ,104:miles
Number, ofstreet•;li ~ tit`s' - i - _
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Police protection ~ . .
- ~ - Y~ - P. - _ ,
Number.~of~stations. _ •~1
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_ Atteniiance ~ceriters- . - - ~ _ X12
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- 'Numbe,r ofi'teactie~s~ - . _
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Number of- students - ~ x•8,965 -
ry e s- _ •-109.5 ~mile~s -
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`Building ~permits!issued.(1992)' ~,255~. ermits -
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- Number of,~parRs ~ - . ~ - 1.5:• - : ~ - - -
- .Number of libraries• ~ - - = ~ ~-1 ~ ~ ~ - ~ -
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u ber 'f v• 1~ m
0 o u s ~im
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Informatiori obta'iried from the _various:degartmenfs of the:.GitY of•tTigard;~ Oregon;.and Tigard/Tualati`n;School District;,,,„
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I.., " t`ti AUjDIT COMMENT,S AND:DISCLOSURES `
t _r
~ - :REQUIRED; BY STATE REGULATIONS` ; ~ - , I
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1, ,
h
MENTS ANO DfSC1 OSURE
pupIT:.COM T S
aY` STATE .REGULA ION?
` REQUIRE.
1 of
edits
' Standards for a the . .
ation with
rate the.Minimum, er se s
r 20' incorp°. in'.coop, lo 18210-3 of State', disc re
the-Secretary ` comments and of .this
resc~ibed:by
162A' 0-050 ttifough schedules,=. receding Seions
tative,Rules These ncial staternents'standards, p. re set~fodh, in'the. P
t s
Oregon "Adrr►►n4s erat
aj Corporations . e'tf1e .fina ch'staternent and schedules are set ;
pregon,Municip , ; , . enum, and schedules a ,
u►red statements _ ACCO Oregon State, Board :ohs The req Y , our examination of su
d es related.to.:
fired in audit,rep° sand disclosur
requ, R quire comment _
report,, a -f _
forth •followm9 , , , , ' . _ ` ~ • F ,
.~r ' 7 x.70 , . ' . '
AUDIT''COMMENTS:-AND, DISCLOSURES
rl': n rol: Stru,y,..
tu
Intern
ail Cot c re:
We Have "audited the generrail• purpose financial•statements:ofi the Cft of ~Ti ard; Ore9.on as•.of and for-the Xear
Y 9
ended,June 30, 1992;and;have issued.our;report-,thereon-d_ated'September.,16,:'1992';lezcept for,Note'8'as to which
the date1is 061:86er:30 19,92
' a.
1
s We conducted.our audit :in,;accordance wifli r•generally accepted.:auditing standards and Government Auc(ifing
. Standards, issued by`the Comptroller'Generaf:of'.t1ie lJnited. States,Those standards`'requice :thaf we;plan."and
perform;the;audit.to obfain:reasonable, assurance.about wFiether the general purpose' financial''statements are free :
of; -material misstatement.
} In lannin 'anderformm 1our::audit.ofr th'e genera. - u §e financial statements:of theaCi of Ti and Ore on for
p 9. . p 9 ge P !Po tY 9 „g,
Ythe year endedJune'30,..1992, we. considered As'internal control.structure.Jri"order'fo determine.: our audifing'.r'
rocedures for,tfie''purpose'ofexpressing: ,our, opinion: on the general purpose: financial<statements: and=.not to:: •..y;
provide' assurance. on'the internal control structure.
_ ,-'The:.managerhent of the,.,City of.Tigard,:Oregon, is responsible for establishing-,and'mainta'ining:an internal co,ntroi1',. '
structure ; In' fulfilling this` responsibility,-;estimates., And judgments, by management are. required to: assess-,the.:'
ex pected..benefits:and• related costs of'~intemal'control stricture-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 loss: from unauthorized use or• disposition; and :that transactions are;ezecuted•-in accordance
° with' management's authorization and recorded`•pYoperly to, permit ;the preparation'ofgenetal'purpose financial
statements.in;accordance-witfi generally,:accepted:accounting, principles..Because• of inherent-limitafions, in any ; r
internal':coritiol structure, errors.,or•irregulardies`maynevertheless occur, and' not be. detected, ~Al'so,_ projection of
any. evaluation°-of fhe.structure to future,'Periods is subject to ..the risk, that procedures may, become,inadequate-..,
because of changes, in conditions•orthat.the eff ectiveness,of,-thedesign and operation of policies And procedures
t may d"eteriorate + h
,f
For the purpose of *this, report,we. have class'rfied the_ sign'rficant internal. confrof structure policies ,and procedures;
in the. following "'categories: - ' -
Revenue/receiP.is
Rurcfiases/disbursements
`Payroll
S
r`For:all;.of the:,66rnal,control.structure'categories;listed;above;,we:obtaihed an''understandin9.ofthe?desig of
.
relevant~policies-and, procedures and whether they have been placed in$operation, and weia""ssessed control risk
;Our.consideration of.the.internal.control structure would.not`:necessarily disclose•alf matters,'in:tfie:internal controC,
tstructure 'that might tie material weaknesses•under standards`established by the American Institute of Cert'rfied - ,
f?ublic Accountants A material weakness': s condition;, n which ^the.design:or. operation of one ormore.of th'e:' ;
;internal control;structure elements.•doesrnot.reduce to-'a :relat'ivelylow, level-the risk .t ha terrors and irregularities-in .
amounts that would be material -in 'relation to -the, general purposq,prianciaistatements being audited `may:occur'. '
and; not be:detected within a. timely period, by :employees in` the:'normal course 'of_.pertorming their assigned
functions ,-W,e noted no, matters involving the;internat control structure'and;its operation's that'.we consider to be:
material weaknesses as defined. above r
Howev6r,:we noted.ceitainmatters involving..the-internal control `structure and its operation that.': have reported
to the management of •t . e' City ofTigard, Oregon;-- in'a separate lette~'dated September:16, 1992: .
±`.r . This. reports intended for'the information,'of management, the State of Oregon,Secretary of.,State,' Divisionof
^ Audits:: However; threport is a;matter<ot public record and .its distribution is not limited:
. • . .
71.
,S.
s
1
:AUDIT- COMMENTS AND, DISCLOSURES,'(cont:) . ,
II. Other Comments and Disclosures:
• 6 e have audited ,the general purpose' fin'ancial' statements of, the, City of ,Tigard; :Oregon as of .and for the year
ended, June,.'30,.1992,• and.oue report.thereon Iis' included on Page 1. of this.,report. Our audit-.was conducted in
accordance with generally accepted auditirig standards and the Minimum:Standards:for Audits of Oregon Municipal
Corporations:.
In-connection'with our:audit,'nothing,came toour attention that caused us to believethe City t.
was no irncompliance:`.
,.with'
OR8'294.305 to 294;520 in the.preparati6h-and,adoption,of,it`s.budget•andlax*Vies forthe fiscaLyears ended
June 30;.1'992' and: June 30, 1993,
the legal' requirements:relating.to debt, .
•:'the -.appropriate law; :rules, and regulations- pertaining to pro grams funded':wholly 'or :partially, by other
governmental; agencies,
' i'the cost accounting` guile lines developed by the State.of,Oregon Executive: epartm6ntwith'regardto;the.City's '
.cost,accounting.`'system' .
• QRS 294.035.in the investment of -public monies,;
the-collateral requirements for public fund deposits•,$pecrfied in ORS-Chapter 295
• ORS Chapter 271 in the:awarding of public contracts, and-the 'construction -of:pub'lic"improvements, ;
,except; the,Oeneral Fund'-appropriation for capital,projects.was'bverexpended by°$29,231`:
r. ,
However;,. it should' be '.noted ?our-• ezaminafion`, was., not , directed 'primarily toward' obtaining knowledge of
noncompliance with. such 'requirements: ;
Additionally; we make the following other comments:
,••`.W,e-found the City's accounting records to be adequate:for:audit purposes:,'. '
We, reviewed the-City's,insurance-and fidelity'bond,cove rage at'June 30;-1992 and'ascertaihed'such policies
appeared to be in force. we, are note competent -by_training to state whether the ;insurance policies covering-, City-owned property, in force at:June 30, 1992, are adequate.; '
' CQOPERS & -YBRAND
1 _ . :By j
John L. Dethrrian; a partner
Portland,-=' September Oregon'
16,-1992
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