1971-04-06
46
i
A G E N D A
COUNCIL MEETING APRIL 6, 1971
I. Oaths of Office Administered to
New Mayor and Councilmen.
II. Police Report
III. Fire Department Report
IV. Presentation of 1970 Audit Report
V. Approval of Bills
47
REGULAR MEETING OF THE CITY COUNCIL
APRIL ~.6, 1971
The City Council of the City of Southlake met in regular
session in the Council Chamber of City Hall on Tuesday,
April 6, 1971, with the following members present:
J. L. Clow, Mayor
Wade Booker, Mayor Pro Tem
Thurman Hearn, Councilman
Buddy Brown, Councilman
Ralph Polson, Councilman
Absent: Billy Joe Knox, Councilman ,
Also present: William D. Campbell, City Attorney
Mayor Clow called the meeting to order at 7:30 p.m. The in- '
vocation was given by City Chaplain Gene Tyson.
The minutes of the last regular meeting were approved as read.
® The minutes of the special meeting were approved as read.
Mayor Clow gave a vote of thanks to the Council for working '
with him and for the rich experience gained by him in serving
this community. He then turned th+eeting over to the City
Attorney, William D. Campbell, who swore in the new mayor,
Wade Booker. Mayor Booker administered the oaths of office
to the new Councilman, R. D. Drummond, Place 2, and W. 0.
Nunn, Place 1. Mayor Booker expressed his appreciation on
behalf of Southlake citizens for the efforts put forth by '
J. L. Clow and Buddy Brown during their tenure of office.
Police Report was iven by Capt. Dan Cordes. Councilman '
Polson moved that '150 be spent for a good used radio for
the 1971 patrol car; seconded by Councilman Hearn. Motion
carried unanimously. Councilman Polson also moved to promote '
Officer Gaddy to "Corporal"; seconded by Councilman Nunn.
Motion carried unanimously.
Fire Department Reports for February and March were given by
Chief Steele. He informed the Council that one tanker has been
retired from service and the remaining tanker is now Unit No.
3001. He also reported #3002 and #3008 are serviceable.
The 1970 Annual Audit was presented (copy attached and made a
part hereof). The Council had no questions at this time.
48
Councilman Polson moved that the bills presented be approved
for payment; seconded by Councilman Drummond. Motion carried
unanimously. (The following bills were presented: R. W.
Mussina for audit-$700.00; Grapevine Sun for legal notices-
$10-35; North Texas State University for workshop-$25-00;
Stafford-Lowden Company for election printing- 24.63; National
Bldg. Centers, Inc. for shelving in city hall-$31.88; Fleming
Sign Company for patrol car decals-$15.00; Fred Oakley Motors
for '70 patrol car repair-'$192.47; Fort Worth Generator &
Starter Service for repair of 167 Ford patrol car-$22.50;
Bell Communications Service for radar repair-$78.80; Thompson
Printing Service for Police Department printing-$20.50; Uni-
versal Fire Equipment Company for recharging fire extinguishers
-$18.oo.)
' There being no further business, the meeting adjourned.
Mayor
ATTEST :
City Secretary
Council _ Mtg.4/6/71-Page 2
49
OATH OF OFFICE t
■
STATE OF TEXAS )
COUNTY OF TARRANT )
CITY OF SOUTHLAKE )
I, Wade Booker, do solemnly swear that I will faith-
fully execute the duties of the OFFICE OF MAYOR of the City
of Southlake, Texas, and will to the best of my ability
i
preserve, protect, and defend the Constitution and Laws
of the United States and of this State and of this City;
and I furthermore do solemnly swear that I have not dir-
ectly or indirectly paid, offered, or promised to pay,
contributed, nor promised to contribute any money, or
valuable thing, or promised any public office or employ-
ment, as a reward for the giving or withholding a vote at
the election at which I was elected.
So help me God.
Wade Booker
SUBSCRIBED AND SWORN to before me, this the 6th day of
April, 1 971 .
Aliceanne Z. W lace
Notary Public n and for
Tarrant County, Texas.
OATH OF OFFICE
r
STATE OF TEXAS
a
COUNTY OF TARRANT )
)
CITY OF SOUTHLAKE )
I, W. 0. (Bill) Nunn, do solemnly swear that I will
faithfully execute the duties of the OFFICE OF COUNCILMAN
PIACE 1 of the City of Southlake, Texas, and will to the
best of my ability preserve, protect, and defend the Con-
stitution and Laws of the United States and of this State
and of this City;.and I furthermore do solemnly swear that
I have not directly or indirectly paid, offered, or prom-
iced to pay, contributed, nor promised to contribute any
money, or valuable thing, or promised any public office
or employment, as a reward for the giving or withholding
a vote at the election at which I was elected.
So help me God.
W. 0. Bill Nunn
SUBSCRIBED AND SWORN to before me, this the 6th day of
April, 1 971 .
Aliceanne Z. lace
Notary Public -in and for
Tarrant County, Texas.
OATH OF OFFICE
STATE OF TEXAS )
COUNTY OF TARRANT )
CITY OF SOUTHLAKE )
I, R. D. (Dick) Drummond, do solemnly swear that I
will faithfully execute the duties of the OFFICE OF COUNCIL-
MAN PLACE 2 of the City of Southlake, Texas, and will to
the best of my ability preserve, protect, and defend the
Constitution and Laws of the United States and of this State
and,of this City; and I furthermore do solemnly swear that
® I have not directly or indirectly paid, offered, or prom-
ised to pay, contributed, nor promised to contribute any
money, or valuable thing, or promised any public office or
employment, as.a reward for the
giving or withholding a
vote at the election at which I was elected.
So help me God.
R. D. Dick Drummond
SUBSCRIBED AND SWORN to before me, this the 6th day of April,
1971.
Aliceanne Z. lace
Notary Public in and for
Tarrant County, Texas.
CITY of SOUTHLAKE
INCORPORATED 1956
PHONE 289-2200
P. O. BOX 868
- SOUTHLAKE. TEXAS 76051
April 1, 1971
j
Honorable Mayor and City Council.
Police Department report for the month of March, 1971
i
Tickets issued in February 105 (One Hundred and Five)
Tickets issued in March 100 (One Hundred)
Tickets unpaid 60 (Sixty)
Fines Written in March 2,434.00
Fines Paid in March 1715.00
Fines paid by Highway Patrol 30.00
Bonds refunded in February 00.00
Bonds refunded in March 90.00
i
Traffic Accidents in.February 9 (Nine)
Traffic Accidents in March 10 (Ten)
Number.of Calls in February 124 (One Hundred and Twenty Four)
Number of Calls in March 191 (One Hundred and Ninety One)
Persons in jail in February 9 (Nine) j
Persons in jail in March 9 (Nine)
Miles driven in February 5,784 miles
Miles driven in March 7,034"miles
Speedometer reading on Unit 3052 59,665
(1970 Ply)
5.
Speedometer reading on Unit 3051 136,223
(1967 Ford)
Respectf701'r y submitted,
CGS!
Dan. F. de 8, Captain
I IDFC;nb
k
1 FIRE DEPARTI~^.i NT
j PHONS - 289-2123
I
R. P. STEELS
FILRE CHIEF
> FIDE DEPAH'TYMT SU1 TARY
SOU'THLAK-W FIM DNJ?AH'1'kitXT
NlON7.'H OF February 9-11-
TOTAL '1OTAL CALLS 1 L
• RAS3 ..~I15 -~------------------------~-----r- 0 i
1
3. STRUCTURE FIRES 1
0
' { t~.. • AUTO FIRES
5. AUTO ACCITr1r= STAND-BY 0
MUTUAL AID ALARMS r-------------------------------rrr----r 0
6. I
_I FALSE ALARM --------r---------------r-------------------
8. Ftc:3CUSCI'l,~.t'tib CALLS 0
I
9. AMBULANCE CALLS 0
ON CALL
10. TOTAL HUAMR OF MAN HOURS r;1CPMTDED
11. TOTAL NUXUR OF MAN HOURS r?,X?jMD&D ON CIVIC PROJECTS
i nTxwn rmAty FIRE DEPARTYIeNT OPERATIONS NONE
~ i
12. APPROXIMATELY 'TOTAL MAN HOURS CHECKING AND MAINTINANCE
OF FIRE DEPARTMiMT F4UIPMWT--------- ----r-------- 18 hours ~
I
NUMBER OF DRILLS DURING MONTH ---rw------------------------ 2 I'
28
' NUMBER OF MAN HOURS ON DRILLS
j
NUMBER OF MEN ATTENDING MEETINGS FOR MONTH--------- 48
*DOES NOT INCLUDE ANYTHING BUT ACTUAL FIRE DEPARTMOT DRILLS. {
SPECIAL REPORT: Men responding:
Pinson - 1 R. Bridgewater - (1)
Poison - (1) D. Gaddy - (1)
Alexander (1) N. Frank - (1)
Booker (1) D. Cordes - (1)
Capps (1) i
I _
j
....»1 a vV... i. i...
PlRl+; 'DEPARTI-I&d'r 54,-
PHONE - 289-2123
R. P. ST,EELE
i ~ PIRL CFiI
j FIRE DE;PAR KEN`P SUP2,1ARY
SOUTHLAK.E F'ifW Dk;PARTF1P21T
M01VTfi OF March I9 1
{
1. TOTAL CALLS - 10
r.Il~' ~ 6
{ 3. STRUCTURd FIRES 1
4. AUTO FIRES 0
5;. AUTO ACOMI XT STAND-BY 0
6. MUTUAL AID ALARMS - 3
7. PALSS ALAP.4S 0
B. Kr;3CU~CI'i"~rUb CALLS 0
9. AMBULANCE CALLS 0
10. TOTAL klUY13ER OF MN HOURS r; CE&NDED ---01-GALL---------- 190.5 i r
F
11. TOTAL NUF3SR OF PW HOURS EXPENDED ON CIVIC PROJEC',23
n PRAP rMIN FIRE DEPARTY10T OPERATIONS NM
' 12. APPROXIMATELY TOTAL )LAN HOURS CHECKING AND MAINTINANCE ~
OF FIRE DEPARTMOT 1kUIPMENT- . 22 Houvs
NUMBER OF DRILLS DURING MONTH 2
NUMBER OF MAN HOURS ON DRILLS 30
NUMBER OF NIM ATTENDING MEETINGS FOR MONTH----------------- 48
*DOES NOT -INCLUDE ANYTHING BUT ACTUAL FIRE DEPARTN.aT DRILLS.
SPECIAL REPORT:
Men responding. I
E. Kinchen (5) J. Joyce - (3) J. Weddle (3)
W. Booker (3)` T. Sanguinet - (4) N. Frank - (2)
' B. Steele - (111 E. Sadler - (2) D. Steele --(t5)
J. Alexander (5) R. Poison - ( ) J. Clifton
B. Burris - (7) R. Shannon -3) J. Capps - (3)
D. Johnson (1) J. Strait - (4) C. Pinner - (1)
D. Cordes -'(1) W. Stricker - (3) G. Tyson - (1)
R. Bridgewater - (1) D. Gaddy (2) f
i
- r ,
d
{
j AUDITED FINANCIAL STATEMENTS
1 CITY OF SOUTHLAKEs TEXAS
CONTENTS
{
AUDITED FINANCIAL STATEMENTS
ACCOUNTANTS REPORT
f coon ED STATEMENTS - ALL DEPARTMENTS
BALANCE SHEET
STATEMENT OF INCOME
STATEMENT OF SOURCE AND APPLICATION
OF FUNDS
GENERAL FUNDS
BALANCE SHEET
STATEMENT OF INCOME
STATEMENT OF SOURCE AND APPLICATION OF FONDS
` MATER SYSTEM
BALANCE SHEET
STATEMENT OF INCOME
STATEMENT OF SOURCE AND APPLICATION
OF FUNDS
Ro=mnw W.2ffaeenr. .
ODD9I7211D "MraG AOOOIIIIVA"
TAZA9
i
TOs Mayor J. L. Claw
Mayor Pro Tea Wade Booker
Councilman Thurman Hearn
Councilman Billy Joe Knout
Councilman W. B. Brown
Councilman Ralph Polson
City of Southlake, Texas I
I`
We have examined the balance sheet of the City of
Scroth3ake as of December 310 19700 and the related
t statements of income and surplus and cash flaw for
the twelve month period then ended. Our examination
f° was made in accordance with generally accepted audit-
ing standards, with the exception that the accounts
receivable, fines receivable, and property taxes re-
ceivable, were not confirmed by direct communication
with the debtors. Our examination included such tests
of the accounting records and such other audit pro-
cedures as we considered necessary in the circumstances.
In our opinion the acoompaning balance sheet and
statements of income and surplus and cash flow present
fairly the financial position'of the City of Southlake
as of December 31, 19709 and the results of its oper-
ations for the twelve month period then ended, in
' conformity with generally accepted accounting prin
ciples applied on a basis consistent with that of
the preceding year.
Certified Public Acoountaut.
Rossswr W. Xu*=w.
OD='1'ISIDD lIIDLiO ~OOOIIX'l~IM~
BOVTHLASN. TIDZA9'
City of Southlake, Texas
All Funds Combined
6
Balance Sheet
December 311 1969 and 2970
I
DECEMBER 31 011' MI: 11 1 31
1970 1969
Assets
Current Assets
Cash in Banks $ 93,057.53 8fis19fi.17
Combined Receivables 34,086.35 220827.69
Leas: Allowance for Uncollectible ( 4,050055) ( 1,243.46) iI
Inventory of Supplies +..1.471=6h. 41 ~ 708.41
Total Current Assets 1
,~24,,_:s89 Ss
Faxed Assets:
office Furniture and fixtures 1059o.89 10590.89
cCii= tyy Building 1,9 .55 18,977.55
410702.16 40582.45
r water System 368:404.52 3650739.33
Fire Department 15,005.00 40100.00
Y. j . Police Department 6;806.11 06.11 5j 202 04
Total Fixed Assets 452,480.23 400,192.26
Lesss Allowance for Depreciation 491022.46 6 a$
Net Fixed Assets 403,4„ 7.77 363,735.08
~~3v
Total Assets $ 528,022.51 473.224.89
Liabilities and Surplus
" -Current Liabilities t
Accrued Payroll Tares $ 419•30
Accounts Payable - Suppliers 525.70
6,145.40 2)515-75
Notes Payable - Banks '19435.10 _3,o00.OQ
Accrued Interest Payable 50$23.88 50375.00
Bonds Payable - Due in One Year 50000.00
Total Current Liabilities $ ,36,923.68 "6A _ E31.85
.Fined Liabilitiess
Bands Payable -Due After One Year 33470000,.00 _ 'pW.00
Total Liabilities 370=923.68 955,531.$5
t
EMUS
Balance Beginning of Period 1170693.04 920123.21
Surplus Adjustment for Prior Periods 6,go2.72 952.81)
Net Isec~nse for the Period 32,,%3.07 2_6,522
Balances End of Period 157,498.83 117 693 04
Total Liabilities and Surplus 8 022.51 $473 2m24.89
ROSRRT W., XUNM rA .
.siriaw svsra. Aco*uNrAxT
' . BODTR7AJM. TEXAS' .
jl
i •
City of Southlaks.rrrrrrr Texas
. ~.•~rr~r~IrLrl~r
All Funds Combined
Net Income
For the Years Ended December 3~1, 1969 wW 970
DECEMBER 31 DECEMBER 31
1970 1969
Water Department Sales - Water and Taps $ 56,929.25 $ 56,120.28
Utility Franchises 6,199.5h ho713 h6
"..Building Permits 996.00 1s055.30
Traffic Fines 38,411.89 23:616.83
Property Taxes 29,02843
j 26
Interest !79.17
h,223.36 3,063.61
Planning and Zoning 19039.70 883.85
Contributions from Tarrant County h 200.00 h j,000.00
Fire Department 1,363.93 1;271.30
Police Department 16O.9h 380.
Miscellaneous
200.00 11-75
~ Total Revenues $ ihhs753.04 $ 1219625.69
E
EXPENSE'S
Water Department before Depreciation $ 32,266.8h $ 250918.ho
• Carroll School Library 20000.00 20000.00
Police Department and Corporation Court h1,6h2.37 359586.26
City Office 8,636.51 h,75o.7h
Fire Department 59302.42 7,108.20
City Hall Expense 923.91 1,0743
Tax Department 4715.50 1,310..00
Planning and Zoning 340.5 $18.12.
City Attorney 21,178.00 1,0339.00
Election 104.25 _
City Hall Repairs and Improvements - 19175-56
Total Expenses before Hon-Cash
Changes 95,110.3h 81,033.7,1.
Net Income before Nan-Cash Charges "Tj 40 32.9U
Non-Cash Charges to Income 17,13_9.63 13,609
Net Income for the Period $ 321503 07 $ 26,522.64
8ossar W. Musaw'L
City of Southlake, Texas
All F`vnds
Statement of Source and Application of Fends
. ; For the Years Ended December 31, 1969 and 1970
December 31 Decesber 31
1970 1969
SOURCE 7 FUNDS:
Not Income for the Year $ 320503.07 $ 260522.64 ,
Non-Cash Barges Added to Net Income 171139.63 _23 :609.34
Funds Provided by Net Income 490642.70 40,131.98
Decrease in Working Capital 2,509.81
Total Funds Available $ 52,152.51 $ 409131.98
APPLICATION OF FUNDS:
Increase in Fixed Assets $ 45,750.23 $ 159016.58
Increase in Working Capital - 19,148.73
Decrease in Long-Term Debt 52000-00 5 000.00
Surplus Adjustments 1,402.28 966.67
Total Funds Applied $ 52,152.51: $40431.98
Statement of Working Capital
Current Assets $ 128,615.29 $ 110,733.27
Current Liabilities 36,923.E 16,531.85
Working Capital $ 91,691.61 $ 94,201.42
BOBART W. 3FUMMMWA
' .~!'1'Ili~D lO~L=. A0000!'1'A7M!
®OVTHLAHM. T XA6'
i
City of Southlakel Texas
Balance Sheet
December 31, 1969 and 1970
I
1 Decetder 31 December 31
'Assets 1970 1969
.
I CURRRt T ASSETS:
Cash in Banks $ 19,151.23 $ 20,860.05
Fines Receivable 10,291.50 19815.00
Less: Allowance for Uncoliectibies- ( 2,080 ( 363~)
Net Fines Receivable "-U2 "-'1 452-00'
Due from Water System 1356.27 2,69h.11
Franchise Taxes Receivable 1,936.30 10802.59
Property Taxes Receivable 19,681.47 17,609.23
Least Allowance for Uncollectibles 1,968.15) 88046)
Net Property Taxes Receivable 17,
Inventory of Supplies 70.86 108.58
Total Current Assets $ 51,737.08 $ b3:61t6;10
FIXID AS'SETSt
Office Furniture and Fixtures $ 948.89 $ 948.89
Fire Department Equipment 15,005.00 1,100.00
Pblice Department Equipment 6,800.11 59202.0~
Total Equipment 22,754.00 109250.93
Less: Allowance for Depreciation 11,828.36 2,,95o.95
Total Net Fixed Assets 17,925.64 7,299.98
Total Assets $ 692,662.72 9l,6 08
Liabilities and Surplus
CUM MT LIABILITIESt
Accrued Payroll Taxes $ 367.80 $ 91.90
Accounts Payable - Suppliers 1014.80 2A47.30
Notes Payable 2z5354101 31000-00
Total Liabilities _ lt2h7-7O 5,2.20
SURPLUS:
Balance Beginning of Period 26,297.98 22,897.21
Adjustments for Prior Periods ( 502.28) ( 355.52)
Assumption of Fire Department 7,105.00 ( 612..00)
Net Income for the Period 13,108.12 4068.26
Transferred from Water System 219176.10 21,176.40
Transferred to Water System 2,_ 07) 2 070.rdp)
Net Surplus 65,!x15.02 _15,403.88
Total Liabilities and Surplus $ 69 6662 72 $ 50,916.08
1 - .
3M*nmxr W. Mbeenr.
OS='iIfIwD l IT.26 A000"TA1f!
i
City of Southlake, Texas
General Fund
Statement of Net Income
For the Years Ended December 31, 1969 and 1970
December 31 December 31
1970 1969.
1110 E:
Utility Franchises $ 6,199.54 $ ,M.46
.Building Permits 996.00 08530
Corporation Court 38,h22.8i 233616.83
Ad',Valorem Taxes 29,02843 26,479.17
wr Interest 803.25 509.88
Planning and Zoning 1,039.70 883.85
Contribution from Tarrant County-Library 2,000.00 20000.00
-Fire Dept. 2,200.00 1,000.00
Fire Department Income and Donations 1'363.93 1,271.30
Police and Police Reserve Donations 16o.94 380.1h
Miscellaneous 2oO.o0 11.7
j Total Income $ 82,403.68 $ 62,951.68
ERP'ENSE:
Carroll School Library Fund $ 20000.00 $ 29000.00
Police Dept. and Corporation Court 41,6h2.37 35,586.26
City Hall Repairs and Improvements 4175.56
City Office 8,636.51 4,750.74
Fire Department 5002.42 7,108.20
City Hall Expense 923.91 1,487.43
Tax Department 1,715.50 1010.00
Planning and Zoning 340.54 818.12
City Attorney 2,178.00 1039.00
Election 104.25
Net Cash Expenses 62t8h3.5055,575.31
Net Income Before Non-Cash
Charges 19,560.18 7,376.37
NON-CASH CHA ES TO INCCMEt
Allowance for Uncollectible Fines 4719.40 363.00
Depreciation Expense-Police Department l,ih9.28 1,251.76
-Fire Department 1,500.50 410.00
-City Office 94.89 102.89
Allowance for Uneollectible Taxes 1,087.69 880.46
Loss on Sale of Fire Truck 900.00
Total Non-Cash Charges 6,451.76 3,008.11
Net Income $ 13,108.h2 $ 4,368.26
Eounwr W. Mumnrs
0St=IFINf WVXZX0 AOOOVNWAI
801MMAMM. TAZA6
~I
City of Southlake, Texas
Water System
Source and Application of Funds
For the Years Ended December 31, 1969 and 1970
December 31 December 51
' 1970 1969
SMRM OF FUNDS:
Net Income for the Year $ 19,391.65 $ 22,15h,38
Depreciation Charges(Not Involving Cash) 10,687.87 10,601.23
30,082.52 32,755.61
Decrease in Working Capital x,702.38
I
Total Source of Funds $4h,,78490 $ 32,755.61
APPLICATION CF FUNDS:
Increase in Fixed Assets $ 39,784.90 $ 7,671.65
Decrease in Long Term Debt 5s000.00
50000.00
Increase in Working Capital - 11,083.96
Transfer of Funds to the City of
Southlake - 9,000.00
Total Application of Funds $ 44,784.90 $ 32,755.61
NOM This statement reflects among rather changes,
the principal change effected by the purchase
of land for a new storage tank and pump house..;
This change decreased the cash in banks by
$20,119.71 and added a Note Payable in the
amount of $17,000.00.
i Statement of Working Capital
Net Current Assets $ 77,183.93 $ 680537.82
Net Current Liabilities 37:032.25 13,683.76
* Working Capital $ h0,151.68 $ 5408511.06
■
■
ROUMMM W. Mu"MMA
O~=RZ.i~D iO~Lt. ~OOOV3~S~1fT
®OV 48M.&I A, TUSA ,
I
(
City of Southlake~Texass
~ Water J stem
Batuice Meets
December 69 and 1970
December 31 December .31 1
1970 1969
Assets
Current Assets
-'"ZaE- Banks $ 73, 606.30 $ 66, 337.12
Accounts Receivable-Water Users 782.65 675.15:,
Interest Receivable-Time Deposits l..A .43 925.72
Inventory of
Supplies.
upplies 1 55 599.83
Total Current Assets 77,163-93 68s53 -
Fixed Assets
qty Sufiding 18,977.55 18,977.55 I~
Land 41,702.16 h 582.45-
Well and Pump 41,804.00 41,8011.00
Distribution.System 326,600.52 323,935.33
Office Equipment 642.00 642.00
Total Fixed Assets
Less: Allowance for Depreciation 1,!1,194.10 33,506.23
Net Fixed Assets 3059532-13 356L4
Total Assets
j Liabilities and Equity
Current Liabilities:
Accounts Payable - Suppliers $ h,800.60 : $ 193.85
Bond Interest Payable- Accrued 5,296.88 5,375.00
Bank Interest Payable - Accrued 527.00 -
Payroll Taxes Payable 51.50 420.80
Due to City of Southlake 4056.27 2,694.11
Note Payable - Bank 17,000.00 -
Bonds Payable-tin. H. A.-Due in One Year 5000-00 5 000.00
Total Current Liabilities 37,032.25 ,13,_683.76
Fixed Liabilities
-Bonds Payable - Fm. H. A. -Due After
One Year 334 3399000.00
Total Liabilities 371,032.25 352,683.76
City of Southlake 25,627.68 25,612.97
Transfer from Natural Gas Fund - 14.71
Transfers from City of Southlake 2,070.50 20070.50
Retained Earnings 85 162.03 65,767-38
Total 112, .21 93A •
Less: Transfers to'City of Southlake 21,176.40 21,176.h0
Net Equity 9 683-81 72,,28§.
Total Liabilities and Equity $ L62,716.06 $ 424,972.92
Notes All Bonds Payable held by The Farmers Home Administration
8ONMRW W. MUMMWA
oan:xsxas ]FUNWO ACCOV ANW
BOIITBLA M. TMXAB,' .
City of SouthlakeL Texas
i
Water System +
i
Statement of Net Income,
For the Years Ended December 31, 1969 and 1970
December 31 December 31
1 1970 1969
i
INCCOMs.
Sale of Water $ 53089.25 $ 49,033,20
Sale of New Taps 5,540.00 7,087.08
' Interact Income 3,420.11 2,553.73
Total Income $ 62,349.36 $ 58,6711.01
EXFENSEs
Salaries $ 8,310.Q0 $ 6,075.00
Truck 97.50
Maintenance 50273.98 10014.49
Power 4,122.43 2,911.62
_
Postage
00
Interest 250.
'
130118.88 12,943.75
. Office 2s523.%
' Legal and Professional Fees 500.00
Miscellaneous 577.75
Insurance 36.00 200.00
' Total Expenses before
Depreciation $ 321266.84 $ 25,918.46
Net Income before Depreciation 30,082.52 32,755.61.
Depreciation 10,687.87 10,601.23
Net Income $ 19,394.65 $ 22,1% .38
Notes Sale of New Taps" represents amunts
collected from hater users for new
connections. The cost of installing
these new connections, $6,347.46 in
1969, and $3,095.61 in 1970, is added
to the investment in the distribution
system.
409 Taps as of December 34 1969
428 Taps as of December 31s 1970
ROHDRT W. Mawemr.
eovasn.aa, a~ase
City of Southlake, Texas
Water System I
Source and Application of Funds
For the Years Ended December 31, 1969 and 1970
December 32 December 31
'
1970 1969
SQIIaCE Or FUNDSs
Net Income for the Year $ 19,394.65 $ 222154.38
Depreciation Charges(Not Involving Cash) 10,687.87 1023
300082.52 32,755.61
Decrease in Working Capital 1112702.38
i
Total Source of Funds $ 4h1784.90 $ 32,7 1
i
APPLICATION CF FUNDS:
Increase in Fixed Assets $ 39,78h.90 $ 70671.65
Decrease in Long Term Debt 5,000.00 5,000000
Increase in Working Capital _ 14083.96
Transfer of Funds to the City of
Southlake 99000.00
Total Application of Funds $ 4hL784.90. $ 32:755.61
NOM This statement reflects among other changes.,
the principal change effected by the purchase
of land for a new storage tank and pump houses-.
This change decreased the cash in banks by
$202119.71 and added a Note Payable in the
amount of $17,000.00.
Statement of Working 921tal
Net Current Assets $ 77,183.93 $ 68537.82
Net Current Liabilities 37 032,25 13:
3.76
Working Capital $ 1x0,151.68 "48%.06
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