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City of Lubbock, Texas Bond Rating Presentation March 2016

LubbockCity of

Bond Issuance Timeline………………………………………...………………1

City of Lubbock Organizational Chart …………………………..………….. 2

Selected Management Biographies………………………………………………….....3

Project Funding Summary by Issue……………………………………………………………..5

Bond Project Listing………………………………………...……………… 7

Capital Projects………………..………………………………………..……..14

Economic Overview……………………………………………………………..47

Policies on Fund Balance and Net Position Policies…………………………………………..64

General Fund…………………………………………………………………..65

Water Fund……………………………………………………………………..77

Wastewater Fund……………………………………………………………..88

Solid Waste Fund……………………………………………………………..94

Storm Water Fund…………………………………………………………..100

Airport Fund……………………………………………………………………106

Cemetery Fund…………………………………………………………………..124

Civic Centers Fund……………………………………………………………129

Internal Service Funds……………………………………………………….135

North Overton TIF…………………………………………………………..153

Central Business District TIF………………………..………………………..163

Lubbock Business Park TIF…………………………………...……………..171

Investment Report……………………………...………………………………..179

Table of Contents

S M T W T F S S M T W T F S S M T W T F S S M T W T F S

1 2 1 2 3 4 5 6 1 2 3 4 5 1 2

3 4 5 6 7 8 9 7 8 9 10 11 12 13 6 7 8 9 10 11 12 3 4 5 6 7 8 9

10 11 12 13 14 15 16 14 15 16 17 18 19 20 13 14 15 16 17 18 19 10 11 12 13 14 15 16

17 18 19 20 21 22 23 21 22 23 24 25 26 27 20 21 22 23 24 25 26 17 18 19 20 21 22 23

24 25 26 27 28 29 30 28 29 27 28 29 30 31 24 25 26 27 28 29 30

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Financing City of Lubbock, Texas ‐ Issuer 1 Holiday 1 Notice Ads

Team RBC Capital Markets, LLC ‐ Financial Advisor 1 City Council

Members Andrews Kurth LLP ‐ Bond Counsel 1 Debt Sale Activity

Action Responsibility

RBCCM

City, RBCCM

CITY, AK

CITY

CITY

CITY

CITY

CITY, RBC

All Parties

CITY

CITY, RBC

CITY

All Parties

CITY, RBC

CITY

All Parties

CITY, RBC

All Parties

All Parties

RBC

AK

All Parties

All Parties

City, RBCCM

*Preliminary, subject to change. As of March 2, 2016.

16‐Mar‐16 RBC Receive Comments on Draft POS

08‐Mar‐16 Publish LP&L Notice of Intent for fourth time

15‐Mar‐16 Publish LP&L Notice of Intent for fifth time

08‐Mar‐16 Conference Call Meetings with Credit Rating Agencies

Distribute Draft FOS for Comments

Pricing Certificate Executed by Designated City Representative (Interest

Rates Locked)

06‐Apr‐16

05‐Apr‐16 Negotiated Sale ‐ Pricing of Obligations

Publish LP&L Notice of Intent for third time

Distribute POS to Potential Purchasers

Distribute Draft POS for Comments

22‐Mar‐16 Receive Ratings

Council Meeting ‐ Adopt Notice of Intent

16‐Feb‐16 Publish CO & LP&L Notices of Intent for first time

02‐Mar‐16

Publish CO & LP&L Notices of Intent for second time

Council Meeting ‐ BKD Presents CAFR to City Council

01‐Mar‐16

Send Draft POS and Credit Information to Credit Rating Agencies

26‐Jan‐16 Request Information for Offering Documents (POS and FOS)

10‐Feb‐16 City Return Request for Information to RBCCM

02‐Mar‐16

Date

24‐Mar‐16

12‐Apr‐16 Receive Comments, Finalize & Distribute FOS

08‐Apr‐16 Submit Documents to Attorney General for Approval

23‐Feb‐16

RBC Receive FINAL Comments on Draft POS

11‐Feb‐16

City of Lubbock, Texas

AprilMarchJanuary

Timetable*

2016

February

General Obligation Refunding Bonds, Series 2016Tax and Waterworks System Surplus Revenue Certificates of Obligation, Series 2016

28‐Apr‐16 City Council Meeting ‐ Final Sales Results Presented

Electric Light and Power System Revenue Bonds, Series 2016

27‐Apr‐16 Closing ‐ Transfer of Funds ‐ Obligations Delivered

Council Meeting ‐ Action Item: Approve Parameters Ordinance Authorizing

Issuance of Obligations

05‐Apr‐16

28‐Mar‐16

15‐Mar‐16

25‐Feb‐16

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City of Lubbock, TX Rating Agency Presentation

Selected Management Biographies

James W. Loomis, City Manager

James W. Loomis, A.A.E., serves as City Manager for the City of Lubbock. In this role he provides oversight and direction for all city departments. One of the City Manager's biggest functions is preparing and submitting a balanced budget to the City Council. The City Manager's Office also assists the City Council in the development and formulation of policies, goals, and objectives. James has been with the City of Lubbock since 2004.

Prior to becoming City Manager in July 2013, he was the Executive Director of Aviation. Before coming to Lubbock, James served in managerial positions at the

East Texas Regional Airport and airports in Illinois, Alabama, Kansas, and Houston.

James has a master's degree in public administration from Central Michigan University and a bachelor's degree from Troy State University (Alabama). He served in the U.S. Army from 1969 to 1983.

Linda Cuellar, Acting Executive Director of Finance, CPA

Linda Cuellar, CPA, is Acting Executive Director of Finance for the City of Lubbock. In this role she is responsible for overseeing accounting, reporting, treasury, and debt for the City. She has been with the City of Lubbock for almost 18 years. She began her career with the City as a staff accountant. She was later promoted to senior accountant and then later was named Accounting Supervisor. Linda was formerly the controller for a small business in Levelland, Texas. She has over 23 years of accounting experience.

Linda graduated from Texas Tech University with a Bachelor of Business Administration degree in Accounting. She is a certified public accountant in Texas. She is a past board member of Catholic Charities and the Lubbock Fire Pension Fund. She is a member of the National Government Finance Officers Association, Government Finance Officers Association of Texas, West Texas Women Certified Public Accountants and the South Plains chapter of the Texas Society of Certified Public Accountants. She is also active in her church.

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City of Lubbock, TX Rating Agency Presentation

Selected Management Biographies

Cheryl Brock, Executive Director of Budget

Cheryl worked in accounting in her early career in retail and economic development. She began her 24-year career with the City of Lubbock in April 1992 as a Business Development Specialist handling TIFs and PIDs, economic and demographic statistics, City tax abatement program, and working with businesses interested in expanding or relocating to Lubbock. She continued in that position, until she was promoted to Senior Financial Analyst in October 2005.

In May 2007, Cheryl moved to the Fiscal Policy Department (Budget) as the Capital Program Manager, where she was responsible for managing the City of Lubbock’s

$700 million capital program. In March 2012, Cheryl was promoted to Executive Director of Budget. She is responsible for managing the Fiscal Policy Department as well as the preparation of the annual budget of $711 million, revenue forecasting, financial analysis, monitoring budgets throughout the year, management of all special districts, preparation and management of the Utility rate models, and monthly financial reports to the City Council.

Cheryl graduated from South Plains College with an Associate in Applied Science Degree in Computer Information Systems in May, 1987. She received her Bachelor of Science in Occupational Education, with a Business Administration major, from Wayland Baptist University in October 2004. Cheryl is a member of the National Government Finance Officers Association and Government Finance Officers Association of Texas.

Kevin Rule, Debt and Investment Analyst

Kevin Rule brings extensive knowledge in the financial services sector to his role as the Debt and Investment Analyst. He spent the first 19 years of his career working in the private sector. He started his career working for regional broker dealers in the Retirement Services area. He then transitioned to a Financial Advisor and eventually the Manager of a Wealth Management Department for a community bank in the Lubbock area. Prior to joining the City, he also spent 3 years as a small business owner in Mount Pleasant, South Carolina where he ran a family owned coffee house.

Kevin returned to Lubbock in 2014 and joined the City’s Finance Department where he is responsible for planning, directing, coordinating and administering activities related to the oversight of capital financing for the City along with overseeing the treasury and investment functions for the City. He is currently a board member of the Lubbock Fire Pension Fund.

Kevin received his Bachelor of Science in Family Financial Planning from Texas Tech University.

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Cost Funding Fund Project Estimate Term

Administrative Services Municipal Facilities Replacements/Renovations 52,800,000$ 20 year

Airport Terminal Building Remodel - Design Only 283,605 20 year

Central Business District TIF Underground Utilities 750,000 20 yearGateways - Revenue 1,500,000 20 year

Internal Service Upgrade 800 MHZ Radio System to P25 Compliance 3,335,000 10 year

North Overton TIF North Overton TIF Public Improvements 1,500,000 10 year

Public Safety Emergency Operations Center 6,070,000 20 year

Streets Street Maintenance Program 3,071,837 10 yearErskine Street - Indiana Avenue to Quaker Avenue 1,478,515 20 yearCommunication System Expansion 350,000 20 year

Solid Waste Cell VI Final Expansion at 69 536,767 7 yearLandfill 69 Gas Collection System Replacement 352,550 7 yearCell 5 Development 2252 4,985,182 10 year

Wastewater Water Reclamation Plant Replacements 500,000 10 yearSEWRP Emergency Generator and Switch Gear 250,000 10 yearSewer Line Replacement 204,391 20 yearSewer Lines Ahead of Street Paving 300,000 20 yearNorthwest Water Reclamation Plant 18,500,000 20 yearDrying Bed Rehabilitation 655,000 20 year

Water Water Treatment Plant Improvements 6,000,000 10 yearWater Lines Ahead of Street Pavings 1,300,000 20 yearBailey County Wellfield Supply Line/Pumping System 9,467,915 20 year

Total Funding 114,190,762$

City of Lubbock, TX

Tax and Waterworks System Surplus Revenue Certificates of Obligation, Series 2016

Finance DepartmentRating Agency Presentation

Project Funding Summary by Issue

5

Cost Funding Fund Project Estimate Term

City of Lubbock, TXFinance Department

Rating Agency PresentationProject Funding Summary by Issue

Lubbock Power and Light Downtown Redevelopment Underground 510,500$ 10 year15kV System Reconductor or Rebuild 255,250 10 yearSubstation Battery Replacement 120,000 10 yearSubstation RTU Replacement 150,000 10 yearMassengale Station - Medium Term 1,000,000 10 yearChalker Capacity Upgrade 4,500,000 20 year69 kV Line Rebuild - Thompson to Vicksburg 120,000 30 year115kV Line Construction - Northwest to Mackenzie 750,000 30 year69 kV Line Rebuild - Chalker to Thompson 225,000 30 year69 kV Line Rebuild - Chalker to Oliver 225,000 30 yearSoutheast Substation Autotransformer 150,000 30 year69kV Capacitor Upgrade - Vicksburg 50,000 30 year69kV Capacitor Upgrade - Chalker 50,000 30 year69kV Capacitor Upgrade - Slaton 50,000 30 year

Total Funding 8,155,750$


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City of Lubbock, TX Finance Department

Rating Agencies Presentation Tax and Waterworks System Surplus Revenue Certificates of Obligation, Series 2016

Projects Funded by this Issue

ADMINISTRATIVE SERVICES

Municipal Facilities Replacement/Renovations Funded by 2016 CO: $52,800,000 Purchase of land or building acquisition; construction of new facilities; and renovations and/or upgrades to existing facilities including the property located at 1206 14th Street, City Hall, and other buildings as funding allows. All costs related to the design, engineering, and professional services as related to acquisition, remodeling, construction, renovations, and upgrades are included in the project.

AIRPORT

Terminal Building Remodel – Design Only Funded by 2016 CO: $283,605 Address airport facilities areas of concern such as security inspection space, checked baggage screening, existing window system, and handicap accessibility issues to meet the requirements of the FAA. Terminal building re-roofing and HVAC improvements will also be included in the project.

CBD TIF

Underground Utilities Funded by 2016 CO: $750,000 Design, relocation, and upgrade of public utility infrastructure in downtown Lubbock as recommended by the Downtown Redevelopment Plan.

Gateways Funded by 2016 CO: $1,500,000 Construct gateways and green spaces in the Central Business District TIF.

INTERNAL SERVICES

Upgrade 800 MHZ Radio System to P25 Compliance - Funded by 2016 CO: $3,335,000 10 Year Upgrade the City radio system to P25 compliance. Phase IV consists of adding six C3 radio dispatch consoles, ten master V channels to the primary site, four master V channels to the west tower, changing 565 non-P25 compliant radios to P25 compliant radios, and upgrading 273 radios to P25 compliance.

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NORTH OVERTON TIF

North Overton TIF Public Improvements - 10 Year Funded by 2016 CO: $1,500,000 Construction of public improvements in the right-of-way for the remaining undeveloped tracts. Also included in the project is the repair or replacement of public improvements in the right-of-way for already developed areas and any other replacement of original construction that is needed.

PUBLIC SAFETY

Emergency Operations Center Funded by 2016 CO: $6,070,000 Construction of a new Emergency Operations Center at the Fire Administration Complex. TheEmergency Operations Center will be approximately 12,000 square feet to accommodate a full and sustained activation of the City’s Emergency Management Program during catastrophic events.

PUBLIC WORKS

Erskine Street – Indiana Avenue to Quaker Avenue Funded by 2016 CO: $1,478,515 Construction of full width paving on an 88-foot wide T-2 designated thoroughfare on Erskine Street from Indiana Avenue to Quaker Avenue, with three traffic lanes in each direction and a continuous left turn lane.

Street Maintenance Program – 10 Year Funded by 2016 CO: $3,071,837 Micro-surfacing, asphalt rejuvenation, asphalt milling, asphalt milling and overlay, full or partial depth pavement repair, total reconstruction, patching, crack sealing, concrete joint sealing, and brick street repair.

Communication System Expansion Funded by 2016 CO: $350,000 Expand the fiber communications for approximately 40 miles, and improve detection at 96 signalized intersections. The extension of the fiber communication will provide bandwidth for other city department facilities.

SOLID WASTE

Cell 5 Development 2252 – 10 Year Funded by 2016 CO: $4,985,182 Excavation of soil from a 17.8 acre area for a fifth cell at the landfill. The cell will be 1,550 feet long, 500 feet wide, and average 58 feet in depth. Once excavation is complete, a geocomposite liner and leachate system will be installed and covered with 2 feet of soil. The cell development will also include construction of litter fencing to control and manage windblown litter,

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installation of a concrete pad at the fuel site, seeding of excavated soil stockpile, and installation of an additional leachate evaporation pond.

Cell VI Final Expansion at 69 – 7 Year Funded by 2016 CO: $536,767 Completion of excavation and lining of an area immediately east of the existing lined cell area. The new cell will provide an additional three years of space for construction and demolition material.

Landfill 69 Gas Collection System Replacement – 7 Year Funded by 2016 CO: $352,550 Excavate the methane gas lines that collect gas from the eastern portion of the landfill and either replace or regrade the lines to maximize methane gas flow to the flare.

WASTEWATER

Sewer Line Replacement Funded by 2016 CO: $204,391 Replacement of deteriorated or damaged sanitary sewer lines and manholes.

Sewer Lines Ahead of Street Paving Funded by 2016 CO: $300,000 Installation of sewer lines ahead of municipal, county, and state paving projects including but not limited to Gateway Paving Projects.

Water Reclamation Plant Replacements – 10 Year Funded by 2016 CO: $500,000 Purchase and install new equipment; modify and/or rehabilitate existing equipment, facility, and piping system; and other major maintenance activities.

Northwest Water Reclamation Plant Funded by 2016 CO: $18,500,000 Design and construction of a new Northwest Water Reclamation Plant. The reclamation plant will handle wastewater flow from Northwest Lubbock. The new plant will handle five million gallons of wastewater a day with the ability to expand to fifteen million gallons. The new plant will produce stream quality effluent that may be discharged into the North Fork of the Double Mountain Fork of the Brazos River for potential reuse.

SEWRP Emergency Generator and Switch Gear – 10 Year Funded by 2016 CO: $250,000 Design and construct a generator facility to ensure electrical power to Lift Station 48 prior to the headworks and the Plant 4 intermediate lift station to maintain pump capacity during power outages. Design and install automatic switch gear on effluent pump station 2 to ensure automatic start of effluent pumps during power outages.

Drying Bed Rehabilitation Funded by 2016 CO: $655,000 Rehabilitation of the drying beds located at the Southeast Water Reclamation Plant.

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WATER

Water Treatment Plant Improvements – 10 Year Funded by 2016 CO: $6,000,000 Purchase and install new equipment; modify existing equipment, facility and treatment system, and other major maintenance activities at the North Water Treatment Plant.

Water Lines Ahead of Street Pavings Funded by 2016 CO: $1,300,000 Relocate and install water lines ahead of municipal, county, and state paving projects and future development including but not limited to the Gateway Paving Project.

Bailey County Well Field Supply Line/Pumping System Funded by 2016 CO: $9,467,915 This project will add a new branch to the Bailey County Well Field (BCWF) supply line to relocate the main system connection directly to pump station No. 7. This will by-pass the aged Low Head B pump station which will be demolished. Pump station No. 7 will either be relocated or rehabilitated, and pump station No. 9 will be rehabilitated.

Total 2016 Certificates of Obligation $114,190,762

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Rating Agencies Presentation Electric Light and Power System Revenue Bonds, Series 2016

Projects Funded by this Issue


Downtown Redevelopment Underground – 10 Year Funded by LP&L Rev Bonds: $510,500 LP&L currently serves the downtown with an overhead power system. LP&L will move all overhead facilities into an underground duct bank. These funds will be used to purchase and install pad mounted 15kV switches, enclosures, power cables and transformers in the area before removing all existing overhead facilities.

15 kV System Re-conductor / Rebuild – 10 Year Funded by LP&L Rev Bonds: $255,250 Re-conductor or rebuild distribution lines within the LP&L service territory. Re-conductor is the term used when a line has its existing wires (conductors) taken down and replaced with new, larger wires. A re-conductor job is different than a rebuild job as a re-conductor job does not require the poles (structures) to be replaced where as a rebuild is usually a complete tear down and replace. In the case of distribution, a re-conductor must be performed while the lines are still energized, and rebuilds must be performed with minimal outage time to customers.

Chalker Capacity Upgrade – 20 Year Funded by LP&L Rev Bonds: $4,500,000 Purchase and install two (2) new 30/40/50 MVA substation power transformers, re-insulate the substation to meet 115kV design requirements, and convert the substation to a 115kV ring bus design. This project will include the procurement and installation of the transformers, associated bus, breaker, and relay upgrades that will accommodate the larger capacity transformers. The project will include removing four (4) existing 10 MVA power transformers and upgrading the substation buses for increased capacity.

69kV Line Rebuild – Thompson to Vicksburg – Funded by LP&L Rev Bonds: $120,000 30 Year Rebuild 1.25 miles of a 69kV transmission line from the Thompson Substation to the Vicksburg Substation. The transmission line is primarily constructed of 70-75 foot wood poles with single-circuit or double-circuit distribution under-build for most of the line. The new transmission line will be 795 aluminum conductor steel reinforced (ACSR) with an optical ground wire (OPGW) static neutral wire. The line will be re-insulated for 115kV. The project includes the engineering, material, and construction costs associated with rebuilding the transmission line. The initial funding will primarily fund design and engineering of this project.

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115kV Line Construction–NW to Mackenzie–30 Yr Funded by LP&L Rev Bonds: $750,000 Build approximately five miles of new 115kV transmission line from the Northwest Substation to the Mackenzie Substation. The new transmission line will be 795 aluminum conductor steel reinforced (ACSR) with an optical ground wire (OPGW) static neutral wire. The new transmission line will be insulated for 115kV. The project will include the routing, permitting, engineering, materials, and construction cost associated with building the transmission line. The initial funding will primarily fund design and engineering of this project.

69kV Line Rebuild–Chalker to Thompson–30 Year Funded by LP&L Rev Bonds: $225,000 Rebuild two miles of a 69kV transmission line from the Chalker Substation to the Thompson Substation. The transmission line is primarily constructed of 70-75 foot wood poles with single-circuit or double-circuit distribution under-build for most of the line. The new transmission line will be 795 aluminum conductor steel reinforced (ACSR) with an optical ground wire (OPGW) static neutral wire. The line will be re-insulated for 115kV. This project includes the engineering, material, and construction costs associated with rebuilding the transmission line. The initial funding will primarily fund design and engineering of this project.

69kV Line Rebuild – Chalker to Oliver – 30 Year Funded by LP&L Rev Bonds: $225,000 Rebuild two miles of a 69kV transmission line from the Chalker Substation to the Oliver Substation. The transmission line is primarily constructed of 70-75 foot wood poles with single-circuit or double-circuit distribution under-build for most of the line. The new transmission line will be 795 aluminum conductor steel reinforced (ACSR) with an optical ground wire (OPGW) static neutral wire. The line will be re-insulated for 115kV. This project includes the engineering, material, and construction costs associated with rebuilding the transmission line. The initial funding will primarily fund design and engineering of this project.

Southeast Substation Autotransformer – 30 Year Funded by LP&L Rev Bonds: $150,000 Connect 230/69kV 100MVA auto transformer to existing 69kV and 230kV buses. This includes the engineering design to physically connect the transformer to the high voltage buses and the electrical design to properly operate and protect the transformer being installed. The physical design will include the bus, structure, conduit, grounding, steel, and foundation designs required to connect to the buses. The electrical design will include integrating the transformer protection with the existing protection schemes and systems already at the substation. The project includes the engineering, material, and construction costs associated with installing the transformer. The initial funding will primarily fund design and engineering of this project.

69kV Capacitor Upgrade – Vicksburg – 30 Year Funded by LP&L Rev Bonds: $50,000 Upgrade existing 69kV capacitor banks, 69kV breakers, and relay protection for Vicksburg Substation. Capacitor banks are typically purchased as a package. This would include the capacitor banks, metering equipment, and all of the protection associated with protecting the capacitor bank.

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69kV Capacitor Upgrade – Chalker – 30 Year Funded by LP&L Rev Bonds: $50,000 Upgrade existing 69kV capacitor banks, 69kV breakers, and relay protection for Chalker Substation. Capacitor banks are typically purchased as a package. This would include the capacitor banks, metering equipment, and all of the protection associated with protecting the capacitor bank.

69kV Capacitor Upgrade – Slaton – 30 Year Funded by LP&L Rev Bonds: $50,000 Upgrade existing 69kV capacitor banks, 69kV breakers, and relay protection for Slaton Substation. Capacitor banks are typically purchased as a package. This would include the capacitor banks, metering equipment, and all of the protection associated with protecting the capacitor bank.

Substation Battery Replacement – 10 Year Funded by LP&L Rev Bonds: $120,000 Purchase eight (8) sets of batteries used in substations to provide 24 Volt (V), 48V, or 125V direct current (DC) power. All critical components inside substations such as circuit breakers, relays, control circuits, and SCADA units rely on DC power for operation. The DC system inside any substation is the most critical system. It is used to power relays that detect faults and by circuit breakers to trip/operate to clear faults.

Substation RTU Replacement – 10 Year Funded by LP&L Rev Bonds: $150,000 Purchase and install new remote terminal units (RTUs) in 5 existing substations. Supervisory Control and Data Acquisition (SCADA) is a term used to describe the process of two devices communicating to gather data. There is a local master unit that is set up at a central location or distribution control center. There is also a RTU that is placed in the field (substation). The RTU allows the operators at the control center to remotely control equipment (breakers, reclosers, tap changers) and meter the power flow (Amps, Watts, VARS, Volts) through the substation.

Massengale Station – Medium Term – 10 Year Funded by LP&L Rev Bonds: $1,000,000 Medium-Term upgrades, refurbishments, and replacements at Massengale Station. Projects include automatic generator control; steam overhaul; pump, motor, and compressor overhauls; hot section overhaul; and cooling tower refurbishment.

TOTAL 2016 REVENUE BONDS $8,155,750

13

Project Name North Overton TIF Public Improvements Project Number 92254

Managing Department

Project Manager

Project Classification

Project Status

Project Scope

Business Development

Melissa Trevino

Infrastructure Improvements

Approved

Construction of public improvements in the right-of-way for the remaining undeveloped tracts. Also included in the project is the repair

or replacement of public improvements in the right of way for already developed areas, such as the relocation and replacement of

bollards on Glenna Goodacre Boulevard and any other replacement of the original construction that is needed.

Project JustificationThe project is part of the ongoing redevelopment in the North Overton TIF to replace 70-year old infrastructure.

Project History

$65,485 was appropriated in FY 2010-11 Budget Amendment No. 1, Ord. No. 2010-O0080, October 28, 2010.

$161,765 was appropriated in FY 2010-11, Budget Amendment No. 5, Ord. No. 2011-O0010, February 10, 2011.

$519,782 was appropriated in FY 2010-11, Budget Amendment No. 12, Ord. No. 2011-O0059, July 14, 2011.

$1.5 million was appropriated in FY 2015-16, Budget Amendment No. 9, Ord. NO. 2015-O0122, 12/17/2015.

Unappropriated Planning Years

Appropriation Detail

Appropriation to

Date

Total Project

AmountFY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21

Construction 747,031 1,500,000 0 0 0 0 0 2,247,031

Total Project Appropriation 747,031 1,500,000 0 0 0 0 0 2,247,031


Funding to

Date

Total

FundingFunding DetailFY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21

FY 2007 TIF Revenue CO's 29,175 0 0 0 0 0 0 29,175



FY 2010 TIF Revenue CO's 20 0 0 0 0 0 0 20

FY 2016 10-Year TIF Revenue

CO's

0 1,500,000 0 0 0 0 0 1,500,000

Total Funding Sources 747,031 1,500,000 0 0 0 0 0 2,247,031

21

Project Name Street Maintenance Program Project Number 92248

Managing Department

Project Manager


Project Status

Project Scope

Paved Streets

Kevin Lair

Infrastructure Improvements

Approved

Micro-surfacing, asphalt rejuvenation, asphalt milling, asphalt milling and overlay, full or partial depth pavement repair, total

reconstruction, patching, crack sealing, concrete joint sealing, and brick street repair.

Project Justification

The project is a preventive maintenance program to help preserve and maintain our street infrastructure. The maintenance program is an

essential tool to help extend the useful life of the pavement. Used early in a pavement's life, preventative maintenance corrects small

problems before they become big problems, saves money, and improves safety and rideability. At some point, all roads require total

rehabilitation as they near the end of their useful life. Total rehabilitation is completed when funding is available.

Project History

This project replaced CIP 92125 that funded street maintenance through FY 2009-10.

$9,201,970 was appropriated in the FY 2010-11 Budget, Ord. No. 2010-O0070, September 16, 2010.


$9,480,099 was appropriated in FY 2012-13 Budget, Ord. No. 2012-O0100, September 13, 2012. (General Fund Debt)

$9,622,300 was appropriated in the FY 2013-14 Budget, Ord. No. 2013-O0087, September 10, 2013. (General Fund Debt)





Appropriation to

Date

Total Project


Construction 54,324,138 10,061,832 10,212,759 10,365,950 10,521,439 10,679,261 0 106,165,379

Total Project Appropriation 54,324,138 10,061,832 10,212,759 10,365,950 10,521,439 10,679,261 0 106,165,379

25

Project Name Street Maintenance Program Project Number 92248


Funding to

Date

Total


FY 2008 Tax Supported Revenue

CO's

75,959 0 0 0 0 0 0 75,959

FY 2011 10-Year Certificates of

Obligation

9,201,970 0 0 0 0 0 0 9,201,970


CO's

79,425 0 0 0 0 0 0 79,425

FY 2012 10-Year Certificates of

Obligation

9,339,999 0 0 0 0 0 0 9,339,999


CO's

20,643 0 0 0 0 0 0 20,643

FY 2013 10-Year Tax Revenue

CO's

9,304,072 0 0 0 0 0 0 9,304,072


CO's

9,622,300 0 0 0 0 0 0 9,622,300


CO's

6,324,815 0 0 0 0 0 0 6,324,815

FY 2015 General Fund

Pay-As-You-Go

441,820 0 0 0 0 0 0 441,820


CO's

3,071,837 0 0 0 0 0 0 3,071,837

FY 2016 General Fund

Pay-As-You-Go

6,841,298 0 0 0 0 0 0 6,841,298


CO's

0 10,061,832 0 0 0 0 0 10,061,832


CO's

0 0 10,212,759 0 0 0 0 10,212,759


CO's

0 0 0 10,365,950 0 0 0 10,365,950


CO's

0 0 0 0 10,521,439 0 0 10,521,439


CO's

0 0 0 0 0 10,679,261 0 10,679,261

Total Funding Sources 54,324,138 10,061,832 10,212,759 10,365,950 10,521,439 10,679,261 0 106,165,379

26

Project Name Cell 5 Development 2252 Project Number 92390

Managing Department

Project Manager


Project Status

Project Scope

Solid Waste Disposal

Catrennia Williamson

New Facility

Approved

Excavation of soil from a 17.8 acre area for a fifth cell at the landfill. The cell will be 1,550 feet long, 500 feet wide and average 58 feet

in depth. Once excavation is complete, a geocomposite liner and leachate collection system will be installed and covered with two feet

of protective soil cover. Following Texas Commisssion on Environmental Quality (TCEQ) approval of the cell liner report, the cell will

be permitted to accept waste. The cell development will also include construction of litter fencing to control and manage windblown

litter, installation of a concrete pad at the fuel site, seeding of excavated soil stockpile and an installation of an additional leachate

evaporation pond.


The West Texas Region Disposal Facility, TCEQ permit 2252, has been approved by the TCEQ for a total of 30 cells. Cell 4 began

accepting waste in November 2011. Cells 1, 2, and 3 are already filled with waste to ground surface level. Usable space below ground

surface in cell 4 has been filled. The development of a new cell will take one year and six months. Therefore, the design and bid

development will begin in FY 2014-15. Construction of the cell will begin in FY 15-16.

Project History





Appropriation to

Date

Total Project


Construction 6,091,700 0 0 0 0 0 0 6,091,700

Design and Engineering 287,500 0 0 0 0 0 0 287,500

Total Project Appropriation 6,379,200 0 0 0 0 0 0 6,379,200


Funding to

Date

Total


FY 2010 Solid Waste Revenue

CO's

151 0 0 0 0 0 0 151

FY 2011 Solid Waste Revenue

CO's

1,393,867 0 0 0 0 0 0 1,393,867

FY 2016 10-Year Solid Waste

Revenue CO's

4,985,182 0 0 0 0 0 0 4,985,182

Total Funding Sources 6,379,200 0 0 0 0 0 0 6,379,200

29

Project Name Sewer Line Replacement Project Number 91038

Managing Department

Project Manager


Project Status

Project Scope

Wastewater Collection

Mary Gonzales

Upgrade/Major Maintenance

Approved

Replacement of deteriorated or damaged sanitary sewer lines and manholes.

Project JustificationReplacing aging infrastructure reduces emergency maintenance expenditures, system failures, and customer complaints.

Project History

The project is an annual replacement program that ensures continuous and reliable sewer service.

$119,331 was used to purchase a replacement CCTV system to identify line replacement projects.

$600,000 was appropriated in FY 2004-05, Ord. No. 2005-00031, March 24, 2005.

$300,000 was appropriated in FY 2006-07 Budget in Ord. No. 2006-00098, September 13, 2006.

$320,000 was appropriated in the FY 2007-08 budget in Ord. No. 2007-00091, September 13, 2007.

$340,000 was appropriated in FY 2008-09 Budget, Ord. No. 2008-O0077, September 11, 2008.

Reduced funding by $700,000 in the FY 2009-10 Budget, Ord. No. 2009-O0073, August 27, 2009.

$150,000 was appropriated in the FY 2010-11 Budget, Ord. No. 2010-O0070, September 16, 2010.





Reduced funding by $400,000 in FY 2014-15 Budget Amendment No. 11, Ord. No. 2015-O0015, 2/26/15.




Appropriation to

Date

Total Project


Construction 2,430,000 400,000 400,000 400,000 400,000 400,000 0 4,430,000

Total Project Appropriation 2,430,000 400,000 400,000 400,000 400,000 400,000 0 4,430,000

32

Project Name Sewer Line Replacement Project Number 91038


Funding to

Date

Total


2005 Wastewater Revenue CO's 267,417 0 0 0 0 0 0 267,417

FY 2008 Wastewater Revenue

CO's

260,000 0 0 0 0 0 0 260,000


CO's

332,583 0 0 0 0 0 0 332,583


CO's

345,609 0 0 0 0 0 0 345,609


CO's

250,000 0 0 0 0 0 0 250,000


CO's

380,000 0 0 0 0 0 0 380,000


CO's

390,000 0 0 0 0 0 0 390,000


CO's

204,391 0 0 0 0 0 0 204,391


CO's

0 400,000 0 0 0 0 0 400,000


CO's

0 0 400,000 0 0 0 0 400,000


CO's

0 0 0 400,000 0 0 0 400,000


CO's

0 0 0 0 400,000 0 0 400,000


CO's

0 0 0 0 0 400,000 0 400,000

Total Funding Sources 2,430,000 400,000 400,000 400,000 400,000 400,000 0 4,430,000

33

Project Name BCWF Supply Line/Pumping System Project Number 92255

Managing Department

Project Manager


Project Status

Project Scope

Pumping & Control

John Turpin

Replacement Infrastructure

Approved

The following work will be performed with this project as supported by a recent engineering evaluation of the Low Head B pump

station, pump station No. 9, pump station No. 7 and the Bailey County Well Field (BCWF) supply line.

1. Add a new branch to the BCWF supply line to relocate the main system connection directly to pump station No. 7 and by-pass the

aged Low Head B pump station.

2. Demolish the Low Head B pump station.

3. Rehabilitate or Relocate and replace pump station No. 7

4. Rehabilitate pump station No. 9


Replacing aging infrastructure insures reliable continuous water service to Lubbock citizens and reduces annual maintenance costs,

system failures, and utility expenses.

Project History

$1.0 million was appropriated in FY 2010-11 Budget Amendment No. 7, Ord. No. 2011-O0035, April 14, 2011.

$9.5 million was appropriated in the FY 2011-12 Budget, Ord. No. 2011-O0080, September 8, 2011.

$16.0 was appropriated in the FY 2013-14 Budget, Ord. No. 2013-O0087, September 10, 2013.

$13.0 million was appropriated in the FY 2015-16 Budget, Ord. No. 2015-O0094, September 10, 2015.

$2.5 million was appropriated in FY 2015-16 Budget Amendment No. 8, Ord. No. 2015-O0120, December 3, 2015.



Appropriation to

Date

Total Project


Construction 42,000,000 500,000 750,000 0 0 0 0 43,250,000

Total Project Appropriation 42,000,000 500,000 750,000 0 0 0 0 43,250,000

45

Project Name BCWF Supply Line/Pumping System Project Number 92255


Funding to

Date

Total


FY 2008 Water Revenue CO's 923,845 0 0 0 0 0 0 923,845

FY 2009 Water Revenue CO's 668,985 0 0 0 0 0 0 668,985

FY 2010 Water Revenue CO's 17,787,293 0 0 0 0 0 0 17,787,293

FY 2011 10-year Water Revenue

CO's

1,000,000 0 0 0 0 0 0 1,000,000




FY 2017 Water Revenue CO's 0 500,000 0 0 0 0 0 500,000

FY 2018 Water Revenue CO's 0 0 750,000 0 0 0 0 750,000

Total Funding Sources 42,000,000 500,000 750,000 0 0 0 0 43,250,000

46

City of Lubbock, Tx Finance Department

Rating Agencies Presentation December/ 4th Quarter/ Annual 2015

February 10, 2016

The Lubbock economy was a growth economy in 2016, with the Lubbock Economic Index finishing the year at 147.7, an increase of 3.0% compared to the year-end (December) 2014 LEI of 143.3. The December increase marks the tenth straight month of improvement in the Lubbock Economic Index, and extends the general pattern of expansion in the Lubbock economy to 52 months. The index increased at an annualized rate of 2.3% in the fourth quarter of 2015.

The monthly improvement in December was slight – only 2/10 of a point – compared to the November index of 145.5. Record building permit activity in December (and in fact in the fourth quarter and for the year as a whole) pushed the index upward for the month, along with year-over-year increases in new housing permits for the month, quarter, and year. Home sales activity in 2015 was also the highest on record, as were the December totals. General spending and auto spending were down for the month and quarter; however, employment growth remained steady in the 2% year-over-year range.

CONCURRENT trends in two broad measures of the Lubbock economy best represent its current and ongoing health and status, and these are general consumer spending (retail sales) and payroll employment.

- General real (inflation-adjusted) taxable spending per December sales tax receipts in Lubbock was down by over 8% compared to December of a year ago; however, the December 2014 taxable spending total was up by nearly 14% compared to December of the previous year. Fourth quarter general spending was down as well, posting a 2.5% decline relative to the fourth quarter of 2014. For the year as a whole, real spending was up by a very modest 1.5% compared to the annual total for 2014.

- The rate of year-over-year job growth in Lubbock was very consistent throughout 2015, averaging 2% through the first half of the year, and averaging 2.1% for the entire year. And at year-end, the December monthly employment estimate of 142,000 payroll jobs in Lubbock was up by 2.2% compared to December of 2014, an increase of 3,000 over the year. That is very much in line with historical rates of employment growth in Lubbock, and in fact is slightly higher than the post-recession (2009-2010) average employment growth rate of about 1.8%.

- The unemployment rate continued its steady decline throughout most of 2015, but leveled off at year-end and the December unemployment rate of 3.1% was slightly higher than the December 2014 unemployment rate of 3.0%. That’s good enough for the third-lowest metro area unemployment rate in the state, behind only Amarillo and Austin-Round Rock. The annual average unemployment rate of 3.4% is the lowest since the 3.0% annual average in 1999.

After five years of extraordinary growth in automobile sales in Lubbock, vehicle sales activity slowed in 2015 with inflation-adjusted spending on new and used autos down by 2.5% compared to the 2014 annual total, which in turn was up by over 13% compared to the prior year. December real auto spending was down sharply, falling by 12.5% compared to December 2014, and the fourth quarter total was down by less

47

than a percent compared to the fourth quarter of 2014, which in turn was up by over 8% compared to the fourth quarter of the previous year. Real auto sales activity in 2015 was the second-highest on record on the heels of the record total from 2014.

The $664 million in building permits issued in 2015 is easily a record, and outpaced the 2014 permit valuation total (the previous record) by over 30%. The fourth quarter total building permit valuation was also a nominal (unadjusted for inflation) record, and was up by over 48% compared to the fourth quarter 2014. The December monthly total was not a record for the month of December, but it did surpass permit valuations in 2014 by over 80%.

The home building numbers were also improved in 2015 with the number of new single-family residence construction permits up by about 9% for the year compared to a bit of a down year in 2014. The fourth quarter permit total was up by over 12% compared to the fourth quarter of a year ago, which in turn was down by 23% compared to the fourth quarter 2013. The 50 permits issued in December is the highest December monthly total since 2009, and outpaced the December 2014 new housing permit total by 56%.

The Lubbock residential real estate market set new records in 2015 in all respects – the number of sales, the average price of those sales, and the inflation-adjusted total dollar volume of residential housing activity. The 3,984 closed sales for the year is the highest on record, and was over 5% improved compared to the 2014 annual sales total. The fourth quarter total was actually lower compared to 2014, but sales in December set a new December record, and outpaced December 2014 by over 10%. The 2015 average sale price of those homes was up by a solid 3.5% compared to 2014, which in turn was up by about 5% compared to the previous year. The December and fourth quarter sale price averages were up sharply, posting year-over-year increases of 5.8% and 6.5%, respectively.

With sales and prices at record levels, it certainly stands to reason that the total dollar volume of sales activity (adjusted for inflation) is also the highest on record and indeed that is the case with the 2015 total surpassing 2014 by 6.5%. The fourth quarter total was down a bit compared to the fourth quarter of 2014, again because the number of sales was lower. The December monthly total established a new December record, however, and was up by over 14% compared to December 2014.

The performance of the Lubbock economy was impressive in 2015 with new records established in the levels of spending, employment, construction, housing, and the Lubbock Economic Index itself. The economy has now improved for over four straight years after finally bottoming out in 2011 on the heels of the recession year in 2009.

The Texas Workforce Commission will revise Lubbock metro area employment data for 2015 (and perhaps 2014) in early March, and set new benchmarks for monthly employment estimates in 2016. When that process is complete we will consider the prospects for continued economic growth in the balance of the coming year.

Lubbock Consumer Price Index

Falling energy prices continue to keep overall price growth rates in check through year-end 2015, with the Lubbock Consumer Price Index rising at a 1.4% year-over-year growth rate, compared to 1.5% in November. In December of a year ago, the rate of year-over-year increase in the Lubbock CPI was 2.4%.

48

The rate of price increase in the food and grocery sector of the Lubbock Consumer Price Index declined steadily all year and finished the year at 2.1% for December down from 2.3% in November, and 3.2% in December of a year ago.

The housing sector of the Lubbock CPI is one of only two broad components of the consumer price index calculation in which the rate of year-over-year change did not decline in 2015. The housing portion of the Lubbock Consumer Price Index increased at a rate of 3.8% in December, compared to 3.7% in November and 3.7% in December 2014.

The rate of price increase in the energy/utilities sector remains sharply on the decline, falling yet again to -3.0% in December compared to -2.1% in November. The national “fuels & utilities” CPI is down by 3.3% year-over-year in December, compared to -2.2% in November.

The health care sector of the Lubbock CPI increased by a rate of 2.8% in December, up from a 2.6% pace of year-over-year increase in November. The rate of increase in the US national health care CPI declined again in December to 2.6%, compared to 2.9% in November.

The rate of year-over-year price increase for various miscellaneous goods and services was unchanged from November to December at 1.1%.

The national CPI-U (the US Consumer Price Index, a broad measure of price change over time) increased at a rate of .7% in December. The “core CPI”, the Consumer Price Index minus food and energy, posted a 2.1% rate of year-over-year increase in December.

The CPI for the southern region of the US (which includes Texas), increased at a .5% rate in December compared to December 2014, up from .3% in November.

The Dallas-Fort Worth metro area CPI was last updated in November and climbed up to 0.0, compared to -.9% in September. The Houston metro area CPI was newly updated in December and climbed out of the cellar into positive territory at a .4% rate of year-over-year increase, compared to -.1 in October. The Dallas-Fort Worth and Houston metro area CPI values are calculated every other month on off months from one another.

49

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015Economic Index 130.4 131.0 132.8 124.9 124.1 123.3 131.5 139.5 143.3 147.7

% Annual Growth 3.2% 0.5% 0.9% -5.9% -0.6% -0.6% 6.7% 6.1% 2.7% 3.0%

The Lubbock Economic Index at year-end was 147.7, a 3.0% increase from the year-end 2014 index.

Source: Ingham Economic Reporting

City of Lubbock, TX

Rating Agencies PresentationLubbock Economic Index Trends

Finance Department

100.0

110.0

120.0

130.0

140.0

150.0

160.0

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Economic IndexDecember 2006 to December 2015

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

3.2%

0.5% 0.9%

-5.9%

-0.6% -0.6%

6.7% 6.1%

2.7% 3.0%

Percent of Annual Economic Growth

50


Rating Agencies PresentationUnemployment / Wage Salary Employment

Lubbock MSA Texas U.S. Lubbock MSA Annual %% Annual Avg. % Annual Avg. % Annual Avg. Wage/Salary Change in

Year Unemployment Unemployment Unemployment Employment** Wage/Salary

2009 5.4 7.6 9.3 139,439 3.02010 6.3 8.1 9.6 139,954 0.42011 6.1 7.8 8.9 142,599 1.92012 5.4 6.7 8.1 143,425 0.62013 4.9 6.2 7.4 146,093 1.92014 3.9 5.1 6.2 148,315 1.5

2015* 3.4 4.4 5.3 148,129 -0.1

* 2015 figures are preliminary.** Average Annual Lubbock MSA Wage/Salary EmploymentSource: Texas Workforce Commission

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

2009 2010 2011 2012 2013 2014 2015*

Annual Average Unemployment Rate

Lubbock MSA U.S. Texas

-0.50.00.51.01.52.02.53.03.5

2009 2010 2011 2012 2013 2014 2015*

% Change in Wage and Salary Employment

51


Rating Agencies PresentationTotal Payroll Trends

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014Total Payroll (Millions) 3,598$ 3,888 4,017 4,204 4,228 4,433 4,553 4,788 4,995 5,263

Source: Texas Workforce Commission, "Covered Employment and Wages" Lubbock County

Company Name Type of Business Employment

Texas Tech University University 5,453 Covenant Health System General Medical and Surgical Hospital 4,393 United Supermarkets Supermarkets 3,803 Texas Tech University Health Sciences Center Health Sciences Center (University) 3,703 Lubbock Independent School District Elementary and Secondary Schools 3,532 University Medical Center General Medical and Surgical Hospital 3,208 City of Lubbock City Government 2,245 Lubbock County County Government 1,278 Frenship ISD Independent School District 1,060 Lubbock State Supported Living Center Residential and Mental Care 766

Top 10 EmployersCity of Lubbock

$3,000

$3,500

$4,000

$4,500

$5,000

$5,500

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Mill

ions

Total Payroll

Total Payroll (Millions)

52

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60%

5.22

%6.

77%

8.63

%3.

86%

5.24

%1.

84%

Gen

eral

Fun

d M

onth

ly R

ecei

pts

Oct

ober

Dec

embe

r3,

685,

954

3,46

5,64

9

3,

471,

803

3,77

4,86

7

4,

482,

320

4,41

3,51

7

5,

096,

700

4,80

9,43

9

4,

809,

439

7.43

%4,

719,

047

1.92

%90

,392

-5.6

4%(2

87,2

61)

N

ovem

ber

Janu

ary

3,46

6,14

7

3,

471,

484

3,65

1,01

3

3,

885,

130

4,21

1,57

5

4,

268,

297

4,58

0,82

6

4,

635,

879

9,44

5,31

8

7.

40%

4,69

7,62

5

-1

.31%

(61,

746)

1.19

%55

,053

Dec

embe

rFe

brua

ry5,

291,

646

5,13

5,76

1

5,

492,

011

5,58

9,27

4

6,

180,

791

6,49

3,08

4

6,

838,

169

6,63

3,10

7

16

,078

,426

10

.99%

6,97

9,97

8

-4

.97%

(346

,870

)

-3.0

9%(2

05,0

62)

Ja

nuar

yM

arch

3,33

0,88

8

3,

277,

686

3,55

4,43

5

3,

705,

194

4,06

7,65

0

4,

226,

285

4,37

0,59

2

-

-

7.

18%

4,55

9,25

2

n/

an/

an/

an/

aFe

brua

ryA

pril

3,47

6,62

5

3,

299,

064

3,41

4,03

7

3,

808,

438

4,15

1,94

9

4,

263,

684

4,43

7,76

1

-

-

7.

15%

4,54

2,66

4

n/

an/

an/

an/

aM

arch

May

4,45

0,70

8

4,

757,

653

4,93

9,51

9

5,

125,

619

5,38

6,94

8

5,

628,

144

6,12

5,47

2

-

-

9.

81%

6,22

8,43

8

n/

an/

an/

an/

aA

pril

June

3,36

3,49

8

3,

447,

450

3,56

6,96

6

3,

801,

125

4,21

1,25

9

4,

541,

502

4,76

6,27

6

-

-

7.

36%

4,67

7,00

1

n/

an/

an/

an/

aM

ayJu

ly3,

426,

423

3,51

4,87

6

3,

659,

749

4,15

7,92

3

4,

302,

732

4,49

7,24

8

4,

428,

231

-

-

7.51

%4,

769,

154

n/a

n/a

n/a

n/a

June

Aug

ust

4,45

3,72

0

4,

595,

768

4,67

2,34

7

5,

090,

754

5,29

6,57

5

5,

589,

814

5,99

2,46

6

-

-

9.

63%

6,11

3,90

8

n/

an/

an/

an/

aJu

lySe

ptem

ber

3,63

8,46

1

3,

566,

993

3,81

6,49

7

4,

191,

921

4,41

0,01

8

4,

815,

149

4,95

1,14

7

-

-

7.

84%

4,98

1,31

0

n/

an/

an/

an/

aA

ugus

tO

ctob

er3,

681,

114

3,86

9,94

8

4,

244,

240

4,40

1,95

0

4,

873,

766

4,89

0,87

6

4,

830,

090

-

-

8.25

%5,

239,

138

n/a

n/a

n/a

n/a

Sept

embe

rN

ovem

ber

4,21

4,67

7

4,

355,

354

4,71

7,42

2

4,

996,

283

5,48

7,04

4

5,

635,

759

5,94

9,83

2

-

-

9.

46%

6,00

8,18

5

n/

an/

an/

an/

aT

OT

AL

46,4

79,8

60

46

,757

,685

49,2

00,0

39

52

,528

,476

57,0

62,6

27

59,2

63,3

59

62

,367

,562

16,0

78,4

26

100.

00%

63,5

15,6

98

-1

.94%

(318

,224

)

-2.6

5%(4

37,2

70)

LE

DA

Mon

thly

Rec

eipt

sO

ctob

erD

ecem

ber

335,

087

31

5,05

9

315,

615

34

3,17

0

407,

484

40

1,22

9

463,

336

43

7,22

2

437,

222

7.

43%

429,

004

1.

92%

8,21

8

-5.6

4%(2

6,11

5)

N

ovem

ber

Janu

ary

315,

104

31

5,58

9

331,

910

35

3,19

4

382,

870

38

8,02

7

416,

439

42

1,44

4

858,

665

7.

40%

427,

057

-1

.31%

(5,6

13)

1.20

%5,

005

D

ecem

ber

Febr

uary

481,

059

46

6,88

7

499,

274

50

8,11

6

561,

890

59

0,28

0

621,

652

60

3,01

0

1,46

1,67

5

10

.99%

634,

543

-4

.97%

(31,

534)

-3.0

0%(1

8,64

2)

Ja

nuar

yM

arch

302,

808

29

7,97

1

323,

130

33

6,83

6

369,

786

38

4,20

8

397,

327

-

-

7.

18%

414,

477

n/

an/

an/

an/

aFe

brua

ryA

pril

316,

057

29

9,91

5

310,

367

34

6,22

2

377,

450

38

7,60

8

403,

433

-

-

7.

15%

412,

969

n/

an/

an/

an/

aM

arch

May

404,

610

43

2,51

4

449,

047

46

5,96

5

489,

723

51

1,64

9

556,

861

-

-

9.

81%

566,

222

n/

an/

an/

an/

aA

pril

June

305,

773

31

3,40

5

324,

270

34

5,55

7

382,

842

41

2,86

4

433,

298

-

-

7.

36%

425,

182

n/

an/

an/

an/

aM

ayJu

ly31

1,49

3

319,

534

33

2,70

4

377,

993

39

1,15

7

408,

841

40

2,56

6

-

-

7.51

%43

3,55

9

n/a

n/a

n/a

n/a

June

Aug

ust

404,

884

41

7,79

7

424,

759

46

2,79

6

481,

507

50

8,16

5

544,

770

-

-

9.

63%

555,

810

n/

an/

an/

an/

aJu

lySe

ptem

ber

330,

769

32

4,27

2

346,

954

38

1,08

4

400,

911

43

7,74

1

450,

104

-

-

7.

84%

452,

846

n/

an/

an/

an/

aA

ugus

tO

ctob

er33

4,64

7

351,

813

38

5,84

0

400,

177

44

3,07

0

444,

625

43

9,09

9

-

-

8.25

%47

6,28

5

n/a

n/a

n/a

n/a

Sept

embe

rN

ovem

ber

383,

152

39

5,94

1

428,

857

45

4,20

8

498,

822

51

2,34

2

540,

894

-

-

9.

46%

546,

199

n/

an/

an/

an/

aT

OT

AL

4,22

5,44

2

4,

250,

699

4,47

2,72

8

4,

775,

316

5,18

7,51

2

5,

387,

578

5,66

9,77

8

1,

461,

675

100.

00%

5,77

4,15

4

-1

.94%

(28,

929)

-2.6

5%(3

9,75

2)

54

Cit

y of

Lu

bb

ock,

TX

Fin

ance

Dep

artm

ent

His

tori

c Sc

hed

ule

of S

ales

Tax

Rec

eip

tsR

atin

g A

gen

cies

Pre

sen

tati

onA

ccru

al B

asis

(B

ud

get

Bas

is)

Oct

ober

200

8 th

rou

gh D

ecem

ber

201

5

1.52

2.53

3.54

4.55

5.56

2001

-02

2002

-03

2003

-04

2004

-05

2005

-06

2006

-07

2007

-08

(millions)O

ctob

er-J

anua

ry S

ales

Tax

Rec

eipt

s

Oct

ober

Nov

embe

rD

ecem

ber

Janu

ary

1.52

2.53

3.54

4.55

5.5

2001

-02

2002

-03

2003

-04

2004

-05

2005

-06

2006

-07

2007

-08

(millions)

Febr

uary

-May

Sal

es T

ax R

ecei

pts

Febr

uary

Mar

chA

rpil

May

1.52

2.53

3.54

4.55

5.5

2001

-02

2002

-03

2003

-04

2004

-05

2005

-06

2006

-07

2007

-08

(millions)

June

-Sep

tem

ber

Sale

s Tax

Rec

eipt

s

June

July

Aug

ust

Sept

embe

r

0123456

Oct

ober

Nov

embe

rD

ecem

ber

Janu

ary

Febr

uary

Mar

chA

pril

May

June

July

Aug

ust

Sept

embe

r

(millions)

Mon

thly

Sal

es T

ax R

ecei

pts

Act

ual 2

004-

05A

ctua

l 200

5-06

Act

ual 2

006-

07A

ctua

l 200

7-08

3.64

1.5

2.5

3.5

4.5

5.5

7-Ye

ar S

ales

Tax

Tre

nd

1.5

2.5

3.5

4.5

5.5

6.5

7.5

2005

-062

006-

0720

08-0

9200

9-10

2010

-112

011-

1220

12-1

3201

3-14

2014

-15

(millions)O

ctob

er-J

anua

ry S

ales

Tax

Rec

eipt

s

Oct

ober

Nov

embe

rD

ecem

ber

Janu

ary

1.52

2.53

3.54

4.55

5.56

6.5

2005

-06

2006

-07

2007

-08

2009

-10

2010

-11

2011

-12

2012

-13

2013

-14

2014

-15

(millions)

Febr

uary

-May

Sal

es T

ax R

ecei

pts

Febr

uary

Mar

chA

pril

May

1.52

2.53

3.54

4.55

5.56

6.5

2005

-06

2006

-07

2007

-08

2008

-09

2009

-10

2010

-11

2011

-12

2012

-13

2013

-14

2014

-15

(millions)

June

-Sep

tem

ber

Sale

s Tax

Rec

eipt

s

June

July

Aug

ust

Sept

embe

r

012345678

Oct

ober

Nov

embe

rD

ecem

ber

Janu

ary

Febr

uary

Mar

chA

pril

May

June

July

Aug

ust

Sept

embe

r

(millions)

Mon

thly

Sal

es T

ax R

ecei

pts

Act

ual 2

007-

08A

ctua

l 200

8-09

Act

ual 2

009-

10A

ctua

l 201

0-11

Act

ual 2

011-

12A

ctua

l 201

2-13

Act

ual 2

013-

14A

ctua

l 201

4-15

Budg

et 2

014-

15

012345678

38687

38749

38808

38869

38930

38991

39052

39114

39173

39234

39295

39356

39417

39479

39539

39600

39661

39722

39783

39845

39904

39965

40026

40087

40148

40210

40269

40330

40391

40452

40513

40575

40634

40695

40756

40817

40878

40940

41000

41061

41122

41183

41244

41306

41365

41426

41487

41548

41609

41671

41730

41791

41852

41913

41974

(millions)

10-Y

ear S

ales

Tax

Tre

nd

2

2.53

3.54

4.55

5.56

6.57

7.5

2005

-06

2006

-07

2007

-08

2008

-09

2009

-10

2010

-11

2011

-12

2012

-13

2013

-14

2014

-15

(millions)O

ctob

er-J

anua

ry S

ales

Tax

Rec

eipt

s

Oct

ober

Nov

embe

rD

ecem

ber

Janu

ary

2

2.53

3.54

4.55

5.56

6.57

2005

-06

2006

-07

2007

-08

2008

-09

2009

-10

2010

-11

2011

-12

2012

-13

2013

-14

2014

-15

(millions)

Febr

uary

-May

Sal

es T

ax R

ecei

pts

Febr

uary

Mar

chA

pril

May

2

2.53

3.54

4.55

5.56

6.57

2005

-06

2006

-07

2007

-08

2008

-09

2009

-10

2010

-11

2011

-12

2012

-13

2013

-14

2014

-15

(millions)

June

-Sep

tem

ber

Sale

s Tax

Rec

eipt

s

June

July

Aug

ust

Sept

embe

r

012345678

Oct

ober

Nov

embe

rD

ecem

ber

Janu

ary

Febr

uary

Mar

chA

pril

May

June

July

Aug

ust

Sept

embe

r

(millions)

Mon

thly

Sal

es T

ax R

ecei

pts

Act

ual 2

007-

08A

ctua

l 200

8-09

Act

ual 2

009-

10A

ctua

l 201

0-11

Act

ual 2

011-

12A

ctua

l 201

2-13

Act

ual 2

013-

14A

ctua

l 201

4-15

Budg

et 2

014-

15

012345678

38961

39022

39083

39142

39203

39264

39326

39387

39448

39508

39569

39630

39692

39753

39814

39873

39934

39995

40057

40118

40179

40238

40299

40360

40422

40483

40544

40603

40664

40725

40787

40848

40909

40969

41030

41091

41153

41214

41275

41334

41395

41456

41518

41579

41640

41699

41760

41821

41883

41944

42005

42064

42125

42186

42248

(millions)

10-Y

ear S

ales

Tax

Tre

nd

2.5

0

3.0

0

3.5

0

4.0

0

4.5

0

5.0

0

5.5

0

6.0

0

6.5

0

7.0

0

7.5

0

8.0

0

2008

-09

2009

-10

2010

-11

2011

-12

2012

-13

2013

-14

2014

-15

2015

-16

(millions)O

ctob

er-J

anua

ry S

ales

Tax

Rec

eipt

s

Oct

ober

Nov

embe

rD

ecem

ber

Janu

ary

2.5

0

3.0

0

3.5

0

4.0

0

4.5

0

5.0

0

5.5

0

6.0

0

6.5

0

7.0

0

7.5

0

2008

-09

2009

-10

2010

-11

2011

-12

2012

-13

2013

-14

2014

-15

2015

-16

(millions)

Febr

uary

-May

Sal

es T

ax R

ecei

pts

Febr

uary

Mar

chA

pril

May

2.5

0

3.0

0

3.5

0

4.0

0

4.5

0

5.0

0

5.5

0

6.0

0

6.5

0

7.0

0

7.5

0

2008

-09

2009

-10

2010

-11

2011

-12

2012

-13

2013

-14

2014

-15

2015

-16

(millions)

June

-Sep

tem

ber

Sale

s Tax

Rec

eipt

s

June

July

Aug

ust

Sept

embe

r

- 1

.00

2.0

0 3

.00

4.0

0 5

.00

6.0

0 7

.00

8.0

0

Oct

ober

Nov

embe

rD

ecem

ber

Janu

ary

Febr

uary

Mar

chA

pril

May

June

July

Aug

ust

Sept

embe

r

(millions)

Mon

thly

Sal

es T

ax R

ecei

pts

Act

ual 2

008-

09A

ctua

l 200

9-10

Act

ual 2

010-

11A

ctua

l 201

1-12

Act

ual 2

012-

13A

ctua

l 201

3-14

Act

ual 2

014-

15A

ctua

l 201

5-16

Bud

get 2

015-

16

- 1

.00

2.0

0 3

.00

4.0

0 5

.00

6.0

0 7

.00

8.0

0

Dec-06

Feb-07

Apr-07

Jun-07

Aug-07

Oct-07

Dec-07

Feb-08

Apr-08

Jun-08

Aug-08

Oct-08

Dec-08

Feb-09

Apr-09

Jun-09

Aug-09

Oct-09

Dec-09

Feb-10

Apr-10

Jun-10

Aug-10

Oct-10

Dec-10

Feb-11

Apr-11

Jun-11

Aug-11

Oct-11

Dec-11

Feb-12

Apr-12

Jun-12

Aug-12

Oct-12

Dec-12

Feb-13

Apr-13

Jun-13

Aug-13

Oct-13

Dec-13

Feb-14

Apr-14

Jun-14

Aug-14

Oct-14

Dec-14

Feb-15

Apr-15

Jun-15

Aug-15

Oct-15

Dec-15

(millions)

10-Y

ear S

ales

Tax

Tre

nd

55


Rating Agencies PresentationRetail / Industry Sales

Per Actual Capita All Retail % Retail Industry %

Year Sales Change Sales Sales Change

2005 3,906,948,039$ 3.8 19,083 9,362,203,007 7.1 2006 4,123,723,462 5.5 19,990 10,180,477,899 8.7 2007 4,317,776,201 4.7 20,647 10,578,232,405 3.9 2008 4,439,494,000 2.8 21,022 11,445,496,429 8.2 2009 4,148,636,785 (6.6) 19,535 10,584,868,732 (7.5) 2010 4,364,545,135 5.2 20,315 11,026,947,643 4.2 2011 4,697,578,809 7.6 21,516 11,978,114,050 8.6 2012 5,132,085,498 9.2 21,965 12,987,825,227 8.4 2013 5,513,253,210 7.4 23,421 14,081,838,867 8.4 2014 5,970,552,681 8.3 25,012 14,755,035,734 4.8

Source: Texas Comptroller of Public Accounts - State Sales and Use Tax Analysis Report

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Thousands

Retail Sales

$-

$5

$10

$15

$20

$25

$30

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Thousands

Per Capita Retail Sales

$-

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Thousands

All Industry Sales

56

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015Lubbock MSA Bank Deposits (Millions) * 4,621 4,844 5,148 5,356 5,729 6,056 6,331 6,768 7,387 7,677

MLS Home Sales * 3,362 3,483 3,245 3,354 3,026 2,972 3,510 4,175 4,106 4,294

MLS Dollar Volume (Millions)* 419.3 445.7 433.8 450.4 418.9 422.1 519.6 636.1 671.1 718.4

*Bank deposits are based on the FDIC's fiscal year ending in June.*MLS Home Sales and Dollar Volume are based on December 2015 FiguresSources: FDIC & Lubbock Association of REALTORS


Rating Agencies PresentationBank Deposits, MLS Sales and Dollar Volume Trends

2,400

3,400

4,400

5,400

6,400

7,400

8,400

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Mill

ions

($)

Lubbock MSA Bank Deposits

-

1,000

2,000

3,000

4,000

5,000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Num

ber o

f Hom

es

MLS Home Sales Trends

150.0

250.0

350.0

450.0

550.0

650.0

750.0

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Mill

ions

($)

MLS Home Sales Dollar Volume Trends

57

City of Lubbock, TX

Lubbock Economic Indicators

Economic Indicators Base Year One Year Ago This Year % ChangeDec-15 1996 2014 2015 2014-2015

Retail Sales - December ($000s - Per Sales Tax Rebates in 1995$) 160,739$ 243,186 223,404 (8.1)Retail Sales - Year-To-Date 2,002,762$ 2,870,636 2,912,519 1.5Dollars Spent on Auto Purchases - December ($000s in 1995$) 34,233$ 60,739 53,140 (12.5)Dollars Spent on Auto Purchases YTD 439,697$ 826,206 805,189 (2.5)Lodging Tax Receipts - YTD 2,071,843$ 6,407,951 6,577,004 2.6Airline Boardings - December 53,056 38,016 38,195 0.5Airline Boardings - YTD 615,023 465,737 462,798 (0.6)Value All Construction Permits - December 9,820,668$ 25,337,574 46,721,656 84.4Value All Construction Permits - YTD 162,924,623$ 508,342,758 663,963,278 30.6New Home Permits - December 51 32 50 56.3New Home Permits - YTD 571 815 887 8.8Number of Home Sales - December 152 281 310 10.3Number of Home Sales - YTD 2,111 3,801 3,984 4.8Average Home Sale Price - December 93,687$ 159,656 168,846 5.8Average Home Sale Price - YTD 85,771$ 162,645 168,261 3.5

Employment Wage and Salary Employment - Month 112,800 139,000 142,000 2.2Wage and Salary Employment - YTD Average 110,685 136,900 139,735 2.1Unemployment Rate - December 3.3% 3.0% 3.1% 3.3Unemployment Rate - YTD Avg 4.1% 3.9% 3.4% (12.8)

Oil and Gas (Regional)Oil Price/Barrel - December (WT Int. Crude) 23.37$ 55.52 33.77 (39.2)Rig Count - December * 19 31 14 (54.8)Oil Production - YTD * 148,220 104,783 105,663 0.8Value of Oil Production - YTD * 2,679,236$ 9,384,140 4,790,676 (48.9)

Agriculture (Regional)Cotton Price - December (cents/pound) + 69.83 58.78 59.64 1.5Fat Cattle Price - December ($/hd. Wt.) $66.27 $163.42 $124.98 (23.5)Value Cattle Marketed - YTD ($000's) ++ 308,460$ 415,755 365,864 (12.0)

INDEX - December (Base=100 January 1996) 102.5 143.3 147.7 3.0

* Texas Railroad Commission District 8A (Lubbock Area)+ Spot Price for 41,4,34; mxd lots, net wt, compressed, FOB Car/Truck"++" Texas South Plains

Producer Price Index Industry Data One Year Ago This Year % ChangeDec-15 2014 2015 2014-2015Rolled Steel Shape Manufacturing 194.1 165.5 14.7Cement Manufacturing 217.3 224.5 (3.3)

Consumer Price Index 12 Months 12 MonthsDec-15 Ending in 12/14 Ending in 12/15US 0.8 0.7Lubbock 2.4 1.7 Food/Groceries 3.2 2.3 Housing 3.7 3.8 Energy 1.0 -3.0 Health Care 2.8 2.8 Other Good and Services 1.2 1.1

Rating Agencies Presentation

Finance Department

December 2015

58


Rating Agencies PresentationDemographics

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Population (1) 211,187 212,365 214,847 218,327 229,573 232,035 233,651 235,398 238,706 241,322

Annual % Change in Population 1.0 0.6 1.2 1.6 5.2 1.1 0.7 0.7 1.4 1.1

Per Capita Income (2) 29,248$ 30,821 32,589 31,957 32,936 34,105 36,070 36,568 37,434 N/A

Annual % Change in Per Capita Income 1.9 5.4 5.7 (1.9) 3.1 3.5 5.8 1.4 2.4 N/A

Source: City of Lubbock - Planning Department(1) Census Bureau(2) Lubbock MSA Per Capita Income - Bureau of Economic Analysis

205,000 210,000 215,000 220,000 225,000 230,000 235,000 240,000 245,000

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Population

$15,000

$20,000

$25,000

$30,000

$35,000

$40,000

2006

2008

2009

2010

2011

2012

2013

2014

Per Capita Income

0

1

2

3

4

5

6

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Annual % Change in Population

-2

0

2

4

6

8

10

2006

2007

2008

2009

2010

2011

2012

2013

2014

Annual % Change in Per Capita Income

59


Rating Agencies PresentationDemographics

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Median Family Income (City)* 46,565 47,729 49,089 50,316 51,322 54,185 51,497 53,080 55,989 56,808

Inflation:Lubbock** -2.4% 3.6% 4.0% 2.5% 0.7% 3.2% 2.4% 2.3% 2.4% 1.4%

U.S.*** 2.5% 4.1% 0.1% 2.7% 1.5% 3.0% 1.7% 1.5% 0.8% 0.7%

Sources:* U.S. Census Bureau - American Community Survey 1-Year Estimates**Ingham Economic Reporting ***US Department of Labor Bureau of Labor Statistics

25,000

30,000

35,000

40,000

45,000

50,000

55,000

60,000

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Income

Median Family Income (City)*

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Inflation Rates

Lubbock** U.S.***

60

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015Permit TypeNew Residential 1,178 916 930 748 810 631 727 1,025 934 969New Commercial 186 187 89 82 60 55 63 70 93 126

New Commercial only includes Office/Bank/Professional and Stores/Mercantile

Source: City of Lubbock - Building Inspection Department


Rating Agencies Presentation Building Permit Trends

100

300

500

700

900

1,100

1,300

1,500

1,700

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

New Residential Permits

-

50

100

150

200

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

New Commercial Permits

61

City

of L

ubbo

ck, T

XFi

nanc

e D

epar

tmen

tR

atin

g A

genc

ies P

rese

ntat

ion

Bui

ldin

g Pe

rmits

- 10

Yea

r T

rend

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

NEW

RES

IDEN

TIA

L1-

Fam

ily R

esid

ence

1,12

3

88

0

887

72

7

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2

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2-Fa

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67 42

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or m

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T

otal

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tial

1,17

8

91

6

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74

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63

1

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1,

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934

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NEW

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Hot

els/

Mot

els*

- -

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1 1

4 5

Am

usem

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14 14

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Chu

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ages

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tions

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ages

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Hos

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ank/

Prof

essi

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98 72

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Publ

ic W

orks

/Util

ities

10 2

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atio

nal

4 3

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Stor

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88 11

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Oth

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91

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66

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Tot

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2,02

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1,

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1,54

5

1,

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1,48

7

1,

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1,77

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1,96

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AD

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S/A

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127

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68

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3,

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1,61

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978

1,

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248

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1

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7

227

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1,25

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987

3,

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1,88

9

96

0

1,30

1

2,

100

1,29

6

1,

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Tot

al C

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3,27

5

2,

739

2,53

2

5,

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3,37

6

2,

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3,07

2

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3,26

0

3,

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*H

otel

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mot

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ere

orig

inal

ly in

clud

ed in

resi

dent

ial,

but i

n 20

09, a

new

cat

egor

y w

as c

reat

ed.

62

City

of L

ubbo

ck, T

XFi

nanc

e D

epar

tmen

tR

atin

g A

genc

ies P

rese

ntat

ion

Bui

ldin

g Pe

rmit

Val

uatio

ns -

10 Y

ear

Tre

nd

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

NEW

RES

IDEN

TIA

L1-

Fam

ily R

esid

ence

184,

550,

770

$

16

0,23

2,85

9

154,

264,

293

14

7,39

1,05

8

147,

253,

408

11

6,05

3,14

2

155,

031,

392

213,

051,

754

205,

645,

978

229,

125,

684

2-Fa

mily

Res

iden

ce3,

485,

000

1,41

0,50

0

7,

571,

841

2,06

8,00

0

15

,128

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8,

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000

8,29

2,25

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6,

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000

6,58

8,00

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3,99

8,00

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mor

e R

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entia

l17

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,000

50,5

12,0

00

67,1

91,4

78

18,8

60,0

00

49,3

69,4

75

39,0

53,4

64

44,1

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54

55,5

65,8

11

47,4

78,7

19

56,9

45,7

70

T

otal

New

Res

iden

tial

205,

385,

770

21

2,15

5,35

9

229,

027,

612

16

8,31

9,05

8

211,

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056

16

3,19

6,60

6

207,

455,

696

274,

671,

565

259,

712,

697

290,

069,

454

NEW

NO

N-R

ESID

ENTI

AL

Hot

els/

Mot

els *

- -

- 5,

500,

000

- 16

4,06

5

4,40

0,00

0

6,

700,

000

31,5

85,0

00

23,7

00,0

00

Am

usem

ent/R

ecre

atio

nal

1,39

8,43

1

15

,150

,894

6,

181,

100

4,15

1,01

1

3,

474,

700

7,96

0,10

0

5,

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11,3

29,4

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6,01

2,51

5

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3,00

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6,45

1,47

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7,17

6

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- 6,

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9,

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527,

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9,

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Gar

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493,

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46

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-

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-

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1,

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149,

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1,

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25,1

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-

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Off

ice/

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50,8

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32,8

49,8

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30,8

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Tot

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377,

496,

403

39

7,16

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1

395,

418,

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29

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316,

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AD

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35

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453,

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$

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4,71

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mot

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inal

ly in

clud

ed in

resi

dent

ial,

but i

n 20

09, a

new

cat

egor

y w

as c

reat

ed.

Sour

ce:

City

of L

ubbo

ck, B

uild

ing

Insp

ectio

n D

ept.

"Bui

ldin

g In

spec

tion

Stat

istic

al R

epor

t"

63


Rating Agencies Presentation Policy on General Fund Unrestricted Fund Balance

and Appropriable Net Position Policy

GENERAL FUND. The City targets an unrestricted fund balance in an amount equal to at least 20 percent of regular General Fund operating revenues to meet unanticipated contingencies and fluctuations in revenue. Staff develops a General Fund rate model that is used to forecast fiscal year-end balances. Staff develops this model by compiling all projected resources, General Fund disbursements, general capital needs and operating transfers. If the rate model indicates an impending deficit, contingency plans are developed for City Council approval to relieve those deficits.

WATER AND WASTEWATER FUNDS. The City targets appropriable net position in the Water and Wastewater funds in an amount equal to 25 percent of regular operating revenues. Five-year rate models are maintained in the Water Fund and Wastewater Funds to indentify all sources and uses of funds and to provide a planning tool for rate setting. The rate model is a model where all projected revenues, operating and capital disbursements, debt service requirements, and transfers in/out are compiled to determine the rate necessary to yield the targeted ending balance. When the model predicts the need for a rate increase, further intensive review is performed to determine if capital project construction timelines can be adjusted in order to smooth the rate. At a minimum, the rolling five-year rate models are updated and analyzed as part of the budget preparation process and again mid-fiscal year, once prior year financial statements are issued.

SOLID WASTE, AIRPORT AND STORM WATER FUNDS. The City targets appropriable net position in the Solid Waste, Airport, and Storm Water funds in an amount equal to 15 percent of regular operating revenues. Five-year rate models are maintained in the Solid Waste Fund, Airport Fund and Storm Water Fund to identify all sources and uses of funds and to provide a planning tool for rate setting. The rate model is a model where all projected revenues, operating and capital disbursements, debt service requirements, and transfers in/out are compiled to determine the rate necessary to yield the targeted ending balance. When the model predicts the need for a rate increase, further intensive review is performed to determine if capital project construction timelines can be adjusted in order to smooth the rate. At a minimum, the rolling five-year rate models are updated and analyzed as part of the budget preparedness process and again mid-fiscal year, once prior year financial statements are issued. In the Solid Waste Fund, funds are designated in landfill closure and post closure care reserves for the purpose of covering the City’s landfill sites when they stop accepting waste and to perform certain maintenance and monitoring functions at the sites for thirty years after closure.

INTERNAL SERVICE FUNDS. The City targets appropriable net position in the Internal Service Funds in an amount equal to eight percent of regular operating revenues.

64


Rating Agencies PresentationGeneral Fund Model

AdoptedFY 15-16 FY 16-17 FY 17-18 FY 18-19 FY 19-20 FY 20-21

RevenuesTotal Taxes 119,876,488 123,185,087 128,090,834 133,218,546 139,073,666 144,739,125 Total Franchise Fees/Right Of Way 4,864,407 5,101,740 5,200,327 5,305,069 5,416,118 5,533,639 Total Fees For Services 3,080,420 3,116,788 3,154,009 3,192,113 3,231,132 3,271,099 Total Fees And Fines 5,929,901 6,101,522 6,281,647 6,470,754 6,669,348 6,877,966 Total Other Revenues 1,421,434 1,421,993 1,420,462 1,419,333 1,416,102 1,413,259 Total Transfers 30,884,365 32,107,479 33,672,041 35,205,069 36,567,898 37,668,097

Total Revenue Sources 166,057,015 171,034,610 177,819,320 184,810,884 192,374,264 199,503,186

ExpendituresTotal Salaries 86,692,299 89,431,698 92,262,021 95,186,524 98,208,592 101,331,747 Total Benefits 36,760,989 38,425,781 40,182,019 42,035,420 43,992,087 46,058,541 Total Supplies 6,267,169 6,658,200 7,086,424 7,555,978 8,071,490 8,638,142 Total Maintenance 6,221,358 6,379,334 6,541,488 6,707,932 6,878,784 7,054,165 Total Professional Services & Training 6,047,611 6,209,969 6,377,512 6,550,436 6,728,946 6,913,255 Total Scheduled Charges 9,834,917 10,394,062 10,991,261 11,629,336 12,311,329 13,040,516 Total Other Charges 2,030,884 2,087,683 2,146,426 2,207,194 2,270,070 2,335,139 Total Capital Outlay 501,880 507,398 512,980 518,629 524,345 530,128 Total Reimbursements - - - - - -

Operating & Maintenance Subtotal 154,357,107 160,094,125 166,100,131 172,391,449 178,985,644 185,901,633

Total Transfers & Other Adjustments 3,766,373 3,864,175 3,964,606 4,067,741 4,173,654 4,282,421 Total Pay-As-You-Go Funding in CIP 5,449,485 4,959,907 2,468,554 3,480,572 1,310,000 950,000 Total Master Lease 5,213,414 5,927,474 6,462,325 6,775,536 6,994,951 7,947,148

Fund Level Subtotal 14,429,272 14,751,556 12,895,485 14,323,849 12,478,605 13,179,569

Total Expenditures 168,786,380 174,845,681 178,995,617 186,715,298 191,464,249 199,081,202

Total Expenditures (Over)/Under Revenues (2,729,365) (3,811,072) (1,176,296) (1,904,414) 910,016 421,984

General Fund Net Asset CalculationAppropriable Net Assets: 37,611,308 33,800,237 32,623,941 30,719,527 31,629,542 33,001,526

Less: Appropriable Net Asset Policy (27,034,530) (27,785,426) (28,829,456) (29,921,163) (31,161,273) (32,367,018)

Total Appropriable Net Assets 10,576,778 6,014,811 3,794,485 798,363 468,269 634,508

Debt Service Fund

Total I&S Tax Revenue 17,163,914 21,775,527 24,535,324 27,347,746 30,046,712 32,049,895

Total Existing Debt Service Net of BABs Subsidy 16,906,517 15,788,560 16,044,125 15,957,089 15,847,531 15,104,856 Less Interest Earnings on Bond Proceeds - (150,001) (126,400) (86,916) (87,367) (79,528)

Total New Debt Service - 5,853,793 8,331,593 11,155,735 13,938,946 16,671,067 Fiscal Agent Fees 6,840 6,908 6,977 7,047 7,118 7,189 Bond Sale Charges 273,531 276,266 279,029 281,819 284,637 287,484 Total Debt Service Expense 17,186,888 21,775,527 24,535,324 27,314,774 29,990,865 31,991,068

Total Expenditures (Over)/Under Revenues (22,974) 0 (0) 32,972 55,848 58,827

Debt Service Fund Balance 1,694,062 1,694,062 1,694,062 1,727,034 1,782,882 1,841,709

2015 2016 2017 2018 2019 2020Tax Rate Calculation

Operations & Maintenance (O&M) Tax Rate 39.220 39.220 39.220 39.220 39.220 39.555 Plus: Cost of Additional Expense in Pennies - - 0.335 -

Operations & Maintenance Tax Rate Subtotal 39.220 39.220 39.220 39.220 39.555 39.555

Interest & Sinking (I&S) Fund Tax Rate for Existing Debt Service 12.267 11.182 11.009 10.630 10.224 9.300 Plus: Cost of New Debt in Pennies - 4.229 5.873 7.661 9.314 10.937

Interest & Sinking Fund Tax Rate Subtotal 12.267 15.411 16.882 18.291 19.538 20.237

Economic Development Tax Rate 2.315 2.315 2.315 2.315 2.315 2.315

Tax Rate Grand Total 53.802 56.946 58.417 59.826 61.408 62.107

-----------------------------------------------------Forecast--------------------------------------------------------

65


Rating Agency PresentationGeneral Fund Appropriable Net Fund Balance Calculation

Current AssetsTotal Assets 48,661,591$ Less: Cash Funded Capital Projects - Less: Prepaid Expenses - Less: Inventories (118,303)

Total Net Current Assets 48,543,288

Current LiabilitiesAccounts Payable 3,932,016 Less: Accounts Payable Retainage - Accrued Liabilities 4,270,599 Accrued Interest Payable - Customer Deposits - Due to Other Funds -

Total Current Liabilities 8,202,615

Cashflow CalculationsCurrent Assets Less Current Liabilities 40,340,673 Add: Restricted Cash Reserved for Debt Service -

Total Available Cash at September 30, 2015 40,340,673$

September 30, 2015Target Net Fund Balance Policy Target Net Fund Balance by Policy @ 20.0% of Operating Revenues 26,658,076$

Available for Reallocation 13,682,597 Percentage of Net Fund Balance Policy 151%

FY 2015-16 BudgetOperating Revenues 135,172,650$ Non-Operating Revenues 30,884,365 Expenses (168,786,380)

Revenue Over/(Under) Expenses (2,729,365)


Estimated September 30, 2016Target Net Fund Balance Policy Target Net Fund Balance @ 20.0% of Operating Revenues 27,034,530$ Projected Available for Reallocation 10,576,778 Percentage of Net Fund Balance Policy 139.1%

66

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Net

Ass

et C

alcu

latio

nA

ppro

pria

ble

Net

Pos

ition

:47

,037

,967

46

,086

,547

44

,811

,469

44

,856

,824

49

,714

,150

56

,187

,241

Le

ss: R

eser

ve fo

r RC

WF

Tran

smiss

ion

Line

- -

- (1

,147

,621

)

(5,2

65,4

06)

(1

1,54

2,65

4)

Le

ss: A

ppro

pria

ble

Net

Pos

ition

Pol

icy

(20,

314,

191)

(20,

885,

653)

(21,

701,

981)

(22,

556,

895)

(23,

448,

789)

(24,

386,

683)

Tot

al A

ppro

pria

ble

Net

Pos

ition

26,7

23,7

76

25

,200

,894

23,1

09,4

88

21

,152

,308

20,9

99,9

56

20

,257

,903

Cov

erag

e1.

251.

251.

231.

261.

391.

43Ba

se ra

te a

s a %

of d

ebt s

ervi

ce62

.78%

58.6

3%55

.61%

54.6

2%57

.68%

57.2

8%

Rat

e A

naly

sis

Dec

embe

rD

ecem

ber

Dec

embe

rD

ecem

ber

Dec

embe

rD

ecem

ber

Base

Rat

e16

.00

16.0

016

.00

16.0

016

.00

16.0

0Ti

er 1

5.16

%4.

00%

4.00

%4.

00%

4.00

%4.

00%

Tier

25.

16%

4.00

%4.

00%

4.00

%4.

00%

4.00

%Ti

er 3

5.16

%4.

00%

4.00

%4.

00%

4.00

%4.

00%

The

prop

osed

rate

stru

ctur

e in

corp

orat

ed in

this

mod

el is

subj

ect t

o ch

ange

dep

endi

ng o

n m

any

varia

bles

. So

me

of th

ese

varia

bles

may

incl

ude:

wat

er v

olum

es, i

nter

est r

ates

, com

mod

itypr

ices

, inf

latio

n ra

tes,

the

oper

atio

nal i

mpa

ct o

f new

faci

litie

s, an

d ch

ange

s in

the

cost

or p

riorit

y of

cap

ital p

roje

cts.

------

------

------

------

------

------

-For

ecas

t-----

------

------

------

------

------

------

77


Rating Agency PresentationWater Appropriable Net Position Calculation

Current AssetsTotal Current Assets 43,917,073$ Less: Cash Funded Capital Projects (2,142,493) Less: Inventories (260,379)


Current LiabilitiesAccounts Payable 3,391,953 Less: Accounts Payable Retainage (223.3097) (380,985) Accrued Liabilities 280,304 Customer Deposits 246,423 Due to Other Funds -


Cashflow CalculationsCurrent Assets Less Current Liabilities 37,976,506 Add: Restricted Cash reserved for Debt Service 11,241,521


September 30, 2015Target Net Position Policy 25.00%Target Net Position by Policy 19,191,835$ Available for Reallocation 30,026,192 Percentage of Net Position Policy 256.5%

FY 2015-16 Budget - ReforecastedOperating Revenues 81,256,766$ Non-Operating Revenues 236,233 Expenses (83,673,059)

Revenue Over/(Under) Expenses (2,180,059)


Estimated September 30, 2016Target Net Position Policy 25.00%Target Net Position by Policy 20,314,191$ Available for Reallocation 26,723,776 Percentage of Net Position Policy 231.6%

78

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Cas

h an

d ca

sh e

quiv

alen

ts6,

167,

041

$

12

5,43

8$

24,0

93$

24,9

06$

14,3

62$

923,

353

$

3,

972,

494

$

5,

409,

530

$

5,

812,

646

$

3,

953,

788

$

In

vest

men

ts5,

362,

050

9,

045,

220

2,

950,

033

4,

798,

965

17

,177

,713

35

,568

,944

20

,666

,753

23

,023

,724

29

,081

,891

29

,542

,310

A

ccou

nts r

ecei

vabl

e, (n

et)

4,29

2,45

3

4,90

0,49

0

4,99

8,56

3

7,57

7,09

5

7,64

4,37

3

9,18

9,29

6

8,73

7,59

4

9,77

4,22

7

8,14

7,85

8

10,0

47,5

59

Inte

rest

rece

ivab

le25

,851

54

,896

54

,542

27

,077

5,

580

27

,315

34

,934

54

,299

71

,441

60

,343

D

ue fr

om o

ther

fund

s70

,919

-

- 38

,659

47

,087

58

,305

91

8

3,30

2

2,81

1

3,14

7

Due

from

oth

er g

over

nmen

ts-

33,7

14

33,9

01

80,9

61

2,40

5

22,0

78

40,7

68

43,5

85

62,1

92

49,5

47

Prep

aid

expe

nses

- -

- -

- 19

2,45

0

- -

- -

Inve

ntor

ies

273,

979

22

1,43

0

226,

079

26

4,08

1

296,

165

14

5,43

4

195,

485

16

8,12

9

240,

380

26

0,37

9

Tot

al c

urre

nt a

sset

s16

,192

,293

14

,381

,188

8,

287,

211

12

,811

,744

25

,187

,685

46

,127

,175

33

,648

,946

38

,476

,796

43

,419

,219

43

,917

,073

Res

trict

ed A

sset

s:27

,193

,256

31

,591

,963

68

,834

,543

55

,037

,694

15

6,57

6,95

5

123,

337,

401

91

,438

,003

80

,283

,464

68

,917

,922

50

,040

,557

T

otal

rest

ricte

d as

sets

27,1

93,2

56

31,5

91,9

63

68,8

34,5

43

55,0

37,6

94

156,

576,

955

12

3,33

7,40

1

91,4

38,0

03

80,2

83,4

64

68,9

17,9

22

50,0

40,5

57

Adv

ance

to o

ther

fund

s-

- -

- -

- -

- -

-

Cap

ital A

sset

s:La

nd12

,724

,350

12

,724

,350

12

,724

,350

12

,767

,350

17

,665

,931

19

,062

,367

19

,168

,004

19

,011

,283

19

,082

,390

20

,321

,133

C

onst

ruct

ion

in p

rogr

ess

32,0

78,5

99

19,9

89,4

16

27,6

00,8

24

38,6

33,4

83

47,6

52,1

74

164,

294,

292

6,

748,

127

8,

435,

799

24

,623

,463

9,

846,

184

Bu

ildin

gs21

,640

,589

22

,240

,589

22

,240

,589

25

,073

,351

25

,982

,002

26

,831

,154

74

,237

,247

75

,246

,789

77

,068

,575

79

,404

,060

Im

prov

emen

ts o

ther

than

bui

ldin

gs26

1,57

8,56

1

287,

819,

541

29

1,96

9,45

4

307,

619,

424

33

7,52

9,61

8

342,

769,

467

53

5,57

8,71

1

545,

370,

683

55

2,81

3,31

2

584,

739,

371

M

achi

nery

and

equ

ipm

ent

31,3

42,1

38

33,0

60,0

70

34,6

81,9

32

35,4

26,3

61

35,9

60,4

69

38,1

16,5

54

38,5

37,4

10

39,2

14,5

34

39,0

23,7

02

40,7

25,5

13

Allo

wan

ce fo

r dep

reci

atio

n(9

0,02

4,38

7)

(97,

702,

198)

(1

04,8

98,8

91)

(113

,803

,905

)

(1

22,9

19,2

37)

(133

,610

,420

)

(1

47,9

47,2

46)

(162

,142

,905

)

(1

76,8

30,8

15)

(187

,876

,749

)

N

et p

rope

rty, p

lant

and

equ

ipm

ent

269,

339,

850

27

8,13

1,76

8

284,

318,

258

30

5,71

6,06

4

341,

870,

957

45

7,46

3,41

4

526,

322,

253

52

5,13

6,18

3

535,

780,

627

54

7,15

9,51

2

Tota

l ass

ets

312,

725,

399

32

4,10

4,91

9

361,

440,

012

37

3,56

5,50

2

523,

635,

597

62

6,92

7,99

0

651,

409,

202

64

3,89

6,44

3

648,

117,

768

64

1,11

7,14

2

Def

ferre

d O

utflo

ws o

f Res

ourc

es

Def

erre

d ch

arge

on

refu

ndin

g-

- -

- -

- -

4,22

3,79

8

4,24

6,72

0

5,62

8,52

3

Def

erre

d ou

tflow

s fro

m p

ensio

ns-

- -

- -

- -

- -

1,27

1,85

8

Tota

l def

erre

d ou

tflow

s of r

esou

rces

- -

- -

- -

- 4,

223,

798

4,

246,

720

6,

900,

381

City

of L

ubbo

ck, T

XW

ater

Fun

dB

alan

ce S

heet

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

79

Liab

ilitie

s and

Net

Pos

ition

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

liab

ilitie

s:A

ccou

nts p

ayab

le2,

635,

560

2,

071,

279

2,

402,

156

3,

586,

859

7,

767,

578

21

,295

,903

5,

736,

011

3,

055,

569

7,

585,

991

3,

391,

953

A

crru

ed li

abili

ties

165,

716

27

9,47

5

361,

733

37

9,67

9

344,

454

13

7,98

3

166,

309

19

9,99

4

243,

211

28

0,30

4

Acc

rued

inte

rest

pay

able

1,75

0,10

7

1,09

8,62

1

1,19

3,54

4

1,17

7,31

8

2,14

4,71

8

2,20

7,33

5

2,14

7,65

5

1,89

8,02

5

1,92

5,85

3

1,74

3,97

1

Cus

tom

er d

epos

its58

,710

62

,315

80

,340

11

9,19

2

138,

178

15

0,64

8

175,

368

19

2,31

8

217,

038

24

6,42

3

Leas

es p

ayab

le-

391,

881

67

5,29

0

863,

442

79

3,97

4

726,

638

69

4,87

6

677,

496

57

9,48

1

545,

049

Bo

nds p

ayab

le7,

503,

179

8,

673,

559

10

,350

,270

10

,916

,473

14

,658

,812

19

,160

,073

21

,957

,745

23

,511

,119

24

,339

,888

24

,940

,764

T

otal

cur

rent

liab

ilitie

s12

,113

,272

12

,577

,130

15

,063

,333

17

,042

,963

25

,847

,714

43

,678

,580

30

,877

,964

29

,534

,521

34

,891

,462

31

,148

,464

Lo

ng-te

rm li

abili

ties:

Com

pens

ated

abs

esce

s96

3,96

1

1,04

8,18

7

1,02

2,04

4

1,05

7,08

4

938,

941

92

1,27

8

1,00

1,48

5

1,09

8,58

3

1,18

4,99

6

1,10

8,39

1

Reb

atab

le a

rbitr

age

15,6

69

161,

546

16

3,96

5

67,9

97

27,2

38

- -

- -

- Po

st e

mpl

oym

ent b

enef

its-

- 30

2,77

8

549,

261

95

2,71

9

1,36

9,40

5

2,01

5,38

4

2,71

7,48

2

3,38

7,09

0

4,09

2,29

0

Net

pen

sion

oblig

atio

n-

- -

188,

857

44

3,32

1

705,

368

75

9,72

9

766,

471

77

2,24

0

6,46

4,85

0

Leas

es p

ayab

le1,

020,

101

1,

391,

079

2,

583,

912

2,

971,

037

2,

353,

916

2,

378,

996

1,

980,

043

2,

543,

024

2,

067,

108

1,

976,

406

Bo

nds p

ayab

le14

8,94

8,25

2

158,

246,

275

18

9,84

9,75

1

187,

851,

822

31

4,62

2,01

9

374,

513,

443

39

9,93

6,41

1

382,

014,

188

36

3,04

9,74

6

339,

018,

952

T

otal

long

-term

liab

ilitie

s15

0,94

7,98

3

160,

847,

087

19

3,92

2,45

0

192,

686,

058

31

9,33

8,15

4

379,

888,

490

40

5,69

3,05

2

389,

139,

748

37

0,46

1,18

0

352,

660,

889

To

tal l

iabi

litie

s16

3,06

1,25

5

173,

424,

217

20

8,98

5,78

3

209,

729,

021

34

5,18

5,86

8

423,

567,

070

43

6,57

1,01

6

418,

674,

269

40

5,35

2,64

2

383,

809,

353

Def

erre

d In

flow

s of R

esou

rces

Def

erre

d in

flow

from

pen

sions

- -

- -

- -

- -

- 30

7,48

4

Tota

l def

erre

d in

flow

of r

esou

rces

- -

- -

- -

- -

- 30

7,48

4

Net

pos

ition

Net

inve

stm

ent i

n ca

pita

l ass

ets

132,

649,

091

$

10

9,42

8,97

4$

143,

586,

818

$

15

1,92

4,58

5$

154,

323,

145

$

17

3,91

6,64

7$

180,

966,

096

$

18

9,42

2,77

0$

198,

313,

648

$

21

6,88

6,94

4$

Res

trict

ed fo

r: C

apita

l pro

ject

s-

26,0

63,2

15

- -

- -

- -

- -

D

ebt S

ervi

ce6,

136,

977

5,

525,

055

6,

103,

451

6,

226,

400

11

,696

,047

10

,105

,018

10

,651

,445

11

,474

,848

16

,348

,678

16

,869

,168

U

nres

trict

ed10

,878

,076

9,

663,

458

2,

763,

960

5,

685,

496

12

,430

,537

19

,339

,255

23

,220

,645

28

,548

,354

32

,349

,520

30

,144

,574

Tot

al n

et p

ositi

on14

9,66

4,14

4$

150,

680,

702

$

15

2,45

4,22

9$

163,

836,

481

$

17

8,44

9,72

9$

203,

360,

920

$

21

4,83

8,18

6$

229,

445,

972

$

24

7,01

1,84

6$

263,

900,

686

$

City

of L

ubbo

ck, T

XW

ater

Fun

dB

alan

ce S

heet

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

80

2006

2007

2008

2009

2010

2011

2012

2013

**20

1420

15**

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces (

net)

37,3

30,9

53$

35

,454

,426

$

42,5

27,4

45$

51

,989

,393

$

59,4

74,5

60$

74

,184

,937

$

73,0

13,4

04$

80

,899

,076

$

78,0

27,1

15$

76

,767

,339

$

Tot

al o

pera

ting

reve

nues

37,3

30,9

53

35,4

54,4

26

42,5

27,4

45

51,9

89,3

93

59,4

74,5

60

74,1

84,9

37

73,0

13,4

04

80,8

99,0

76

78,0

27,1

15

76,7

67,3

39

Ope

ratin

g ex

pens

es:

Pers

onal

serv

ices

5,91

0,86

1

6,

814,

703

7,79

3,45

4

8,

167,

394

7,53

7,07

9

7,

234,

575

8,35

6,43

7

9,

039,

225

9,38

1,55

0

9,

657,

396

Supp

lies

1,21

0,72

9

1,

302,

892

1,67

4,78

4

1,

722,

763

1,43

0,71

9

1,

519,

478

1,46

6,37

9

1,

637,

562

1,63

4,48

8

1,

626,

960

Mai

nten

ance

2,45

8,35

7

1,

839,

067

2,30

9,43

4

2,

563,

885

2,32

2,31

6

2,

945,

359

2,44

4,53

4

2,

529,

098

2,69

9,60

9

2,

898,

762

Col

lect

ion

expe

nse

1,48

2,00

0

-

1,74

2,59

0

1,

828,

144

2,23

2,83

9

2,

471,

010

2,56

6,95

9

2,

566,

959

1,88

4,39

3

1,

904,

524

Oth

er se

rvic

es a

nd c

harg

es9,

658,

448

8,82

4,91

8

10

,023

,600

8,

751,

915

9,05

9,34

2

9,

848,

720

9,93

3,45

3

12

,052

,074

11

,516

,298

11

,352

,243

D

epre

ciat

ion

and

amor

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City

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ntat

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82

City of Lubbock, TXWater Department

Rating Agencies PresentationMonthly Water Use Report

December 31, 2015

FISCAL FISCAL FISCAL CURRENT5-YEAR YEAR YEAR YEAR FISCAL

AVERAGE 2012-13 2013-14 2014-15 YEARMONTHLY INFORMATION

Water Use - Gallons 840,869,040 869,217,200 855,398,000 770,109,000 832,598,000

Gallons Per Capita Daily 114 118 115 102 109

Peak Day - Gallons 33,381,000 33,727,000 33,065,000 30,751,000 31,974,000

YEAR TO DATE INFORMATION

Water Supplied From CRMWA - Gallons 1,898,524,720 1,871,734,400 1,971,916,200 1,810,489,000 1,905,232,000

Water Supplied From Bailey County - Gallons 731,012,480 872,116,800 555,686,600 324,702,000 536,208,000

Water Supplied From Lake Alan Henry - Gallons 182,889,600 151,488,000 356,510,000 406,450,000 247,000,000

Total Water Usage - Gallons 2,812,426,800 2,895,339,200 2,884,112,800 2,541,641,000 2,688,440,000

Total Water Usage - Billion Gallons (Bg) 2.812 2.895 2.884 2.542 2.688

Total Water Usage - Acre Feet (Af) 8,631 8,885 8,851 7,800 8,251

Gallons Per Capita Daily 128 132 131 114 119 Lubbock Plus Wholesale Population Served 238,404 238,478 239,535 242,843 245,459 Current Fiscal Year Minus Fiscal Year 2014-15 - Gallons 146,799,000

Current Fiscal Year To Fiscal Year 2014-15 Percentage 105.8%

Current Fiscal Year Minus Fiscal Year 2013-14 - Gallons (195,672,800)

Current Fiscal Year To Fiscal Year 2013-14 Percentage 93.2%

Current Fiscal Year Minus Fiscal Year 2012-13 - Gallons (206,899,200)

Current Fiscal Year To Fiscal Year 2012-13 Average Percentage 92.9%

Current Fiscal Year Minus 5-Year Average - Gallons (123,986,800)

Current Fiscal Year To 5-Year Average Percentage 95.6%

700,000,000

900,000,000

1,100,000,000

1,300,000,000

1,500,000,000

1,700,000,000

1,900,000,000

OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP

GA

LL

ON

S

MONTH

MONTHLY WATER USAGE TREND(THIS CHART IS UPDATED MONTHLY)

FISCAL YEAR 2012-13 FISCAL YEAR 2013-14 FISCAL YEAR 2014-15 CURRENT FISCAL YEAR 5-YEAR AVERAGE

0

100,000,000

200,000,000

300,000,000

400,000,000

500,000,000

600,000,000

700,000,000

800,000,000

900,000,000

GA

LL

ON

S

THIS MONTH WATER USAGE

5-YEAR AVERAGE FISCAL YEAR 2012-13 FISCAL YEAR 2013-14

FISCAL YEAR 2014-15 CURRENT FISCAL YEAR

0

500,000,000

1,000,000,000

1,500,000,000

2,000,000,000

2,500,000,000

3,000,000,000

GA

LL

ON

S

FISCAL YEAR TO DATE WATER USAGE

5-YEAR AVERAGE FISCAL YEAR 2012-13FISCAL YEAR 2013-14 FISCAL YEAR 2014-15CURRENT FISCAL YEAR

83

0102030405060708090

0102030405060708090

12

34

56

78

910

1112

1314

1516

1718

1920

2122

2324

2526

2728

2930

31

DAILY USAGE IN MILLION GALLONS

DA

TE

CR

MW

A W

ATE

R SU

PPLY

BC

WF

WA

TER

SU

PPLY

LAK

E A

LAN

HEN

RY

SU

PPLY

TOTA

L M

AX

IMU

M S

UPP

LY A

VA

ILA

BLE

DA

ILY

WA

TE

R U

SAG

E V

S. M

AX

IMU

M D

AIL

Y W

AT

ER

AV

AIL

AB

LE

Dec

embe

r20

15

84

0.00

10.0

0

20.0

0

30.0

0

40.0

0

50.0

0

60.0

0

70.0

0

80.0

0

90.0

0

100.

00

0102030405060708090100

FEET

Wat

er D

epth

Fro

m L

owes

t Gat

e To

Stre

ambe

d (F

eet)

Wat

er D

epth

To

Low

est G

ate

(Fee

t)C

rest

of S

pillw

ay (F

eet)

LA

KE

AL

AN

HE

NR

Y W

AT

ER

LE

VE

LD

ecem

ber

2015

85

6,000,000,000

7,000,000,000

8,000,000,000

9,000,000,000

10,000,000,000

11,000,000,000

12,000,000,000

13,000,000,000

14,000,000,000

15,000,000,000

16,000,000,000

2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17

ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL PROJECTED PROJECTED

GA

LL

ON

S

FISCAL YEAR

WATER SUPPLY SOURCES

CRMWA SUPPLY BAILEY COUNTY WELL FIELD SUPPLY LAKE ALAN HENRY SUPPLY

0

5

10

15

20

25

30

35

40

45

50

55

60

65

70

75

80

85

90

95

6,000,000,000

7,000,000,000

8,000,000,000

9,000,000,000

10,000,000,000

11,000,000,000

12,000,000,000

13,000,000,000

14,000,000,000

15,000,000,000

16,000,000,000

2010-11 2011-12 2012-13 2013-14 2014-15 2015-16

ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL PROJECTED

INC

HES

AN

D D

EG F

GA

LL

ON

S

ANNUAL USAGE VS RAINFALL VS MAXIMUM AVERAGE TEMPERATURE

ANNUAL WATER USAGE RAINFALL (INCHES) MAXIMUM AVERAGE TEMPERATURE (DEG. F)

86

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

200,000

205,000

210,000

215,000

220,000

225,000

230,000

235,000

240,000

245,000

250,000

2010-11 2011-12 2012-13 2013-14 2014-15 2015-16

ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL PROJECTED

GA

LL

ON

S

POPU

LA

TIO

N

ANNUAL WATER USAGE PER CAPITA COMPARED TO POPULATION

POPULATION ANNUAL WATER USAGE PER CAPITA

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$8.00

$9.00

$10.00

DO

LLA

RS

PER

1,0

00 G

ALL

ON

S

WATER SUPPLY COST

LAH WATER COST COMBINED WATER SUPPLY COST CRMWA WATER COST BCWF WATER COST

87

City

of L

ubbo

ck, T

XFi

nanc

e D

epar

tmen

tR

atin

g A

genc

y Pr

esen

tatio

nW

aste

wat

er R

ate

Mod

el

Ado

pted

FY 2

015-

16FY

201

6-17

FY 2

017-

18FY

201

8-19

FY 2

019-

20FY

202

0-21

Rev

enue

sLi

cens

e an

d Pe

rmits

6,30

0

6,

489

6,68

4

6,

884

7,09

1

7,

303

Ente

rpris

e Fu

nd F

ees

373,

000

38

0,46

0

388,

069

39

5,83

1

403,

747

41

1,82

2

In

tere

st R

even

ues

-

11

1,32

6

140,

969

19

5,07

6

248,

130

34

8,43

5

R

even

ue F

rom

Jun

k Sa

les

25,0

00

25

,000

25,0

00

25

,000

25,0

00

25

,000

R

even

ue F

rom

Met

ered

Ser

vice

s37

,160

,647

41

,378

,321

44

,068

,234

44

,833

,122

45

,282

,336

45

,736

,052

R

even

ue fr

om D

ept O

pera

tions

1,12

3,50

0

1,

135,

570

1,14

7,77

7

1,

160,

124

1,17

2,61

1

1,

185,

241

Tr

ansf

ers F

rom

Oth

er F

unds

59,5

00

60

,690

61,9

04

63

,142

64,4

05

65

,693

O

ther

Rev

enue

-

-

-

-

-

-

T

otal

Fun

ding

Sou

rces

38,7

47,9

47

43

,097

,856

45,8

38,6

37

46

,679

,178

47,2

03,3

21

47

,779

,546

Expe

nditu

res

Tota

l Sal

arie

s3,

470,

418

3,

539,

826

3,

610,

623

3,

682,

835

3,

756,

492

3,

831,

622

To

tal B

enef

its1,

671,

603

1,

765,

411

1,

867,

132

1,

977,

530

2,

097,

441

2,

227,

786

To

tal S

uppl

ies

980,

997

1,00

0,61

6

1,02

0,62

9

1,04

1,04

1

1,06

1,86

2

1,08

3,09

9

Tota

l Mai

nten

ance

1,24

8,17

2

1,

273,

136

1,29

8,59

9

1,

324,

571

1,35

1,06

2

1,

378,

083

To

tal P

rofe

ssio

nal S

ervi

ces /

Tra

inin

g74

9,87

1

764,

868

78

0,16

6

795,

769

81

1,68

4

827,

918

Tota

l Oth

er C

harg

es84

,634

86

,327

88

,053

89

,814

91

,611

93

,443

Tota

l Sch

edul

ed C

harg

es3,

996,

941

4,

053,

947

4,

111,

841

4,

170,

638

4,

230,

355

4,

291,

005

To

tal C

apita

l Out

lay

182,

500

186,

150

189,

873

193,

670

197,

544

201,

495

Tota

l Bon

d A

djus

tmen

ts a

nd C

harg

es6,

499

6,

629

6,

762

6,

897

7,

035

7,

175

To

tal R

eim

burs

emen

ts-

-

-

-

-

-

Tota

l Tra

nsfe

rs5,

779,

784

6,

112,

551

6,

368,

320

6,

532,

639

6,

684,

806

6,

843,

357

To

tal O

ther

Exp

endi

ture

s-

-

-

-

-

-

Pay-

As-

You

-Go

Fund

ing

in C

IP41

6,26

4

30

0,00

0

55

0,00

0

80

0,00

0

80

0,00

0

30

0,00

0

Ex

istin

g D

ebt S

ervi

ce22

,573

,607

22,5

78,3

55

21

,739

, 080

21,8

88,4

75

21

,762

,316

21,3

98,1

32

Le

ss:

Inte

rest

Ear

ning

s on

Bon

d Pr

ocee

ds(7

0,99

6)

(4

9,13

1)

(2

6,89

0)

(3

,075

)

(6,5

00)

(2

7,00

0)

Le

ss:

Bui

ld A

mer

ica

Bon

d Su

bsid

y(4

7,77

5)

(4

7,77

5)

(4

5,87

8)

(4

1,97

7)

(3

7,82

8)

(3

4,38

8)

To

tal N

ew D

ebt S

ervi

ce-

1,

677,

283

2,

054,

148

2,

449,

659

2,

685,

466

3,

160,

830

To

tal E

xist

ing

Mas

ter L

ease

534,

911

596,

216

717,

031

834,

755

830,

254

763,

388

Tota

l Exp

endi

ture

s41

,577

,430

43,8

44,4

09

44

,329

,488

45,7

43,2

43

46

,323

,600

46,3

45,9

46

Tota

l Exp

endi

ture

s (O

ver)

/Und

er R

even

ues

(2,8

29,4

83)

(7

46,5

53)

1,50

9,15

0

935,

935

879,

721

1,43

3,60

1

Net

Ass

et C

alcu

latio

nA

ppro

pria

ble

Net

Pos

ition

14,8

43,4

97

14

,096

,944

15,6

06,0

94

16

,542

,030

17,4

21,7

50

18

,855

,351

Less

: App

ropr

iabl

e N

et P

ositi

on P

olic

y(9

,665

,862

)

(10,

725,

210)

(11,

402,

691)

(11,

598,

990)

(11,

716,

446)

(11,

835,

105)

T

otal

App

ropr

iabl

e N

et P

ositi

on5,

177,

635

3,

371,

734

4,

203,

403

4,

943,

039

5,

705,

304

7,

020,

246

Cov

erag

e1.

16

1.

19

1.

31

1.

28

1.

29

1.

38

Bas

e ra

te a

s a %

of d

ebt s

ervi

ce71

.92%

76.2

4%79

.98%

78.1

9%78

.62%

79.0

5%

Rat

e A

naly

sisD

ecem

ber

Dec

embe

rD

ecem

ber

Dec

embe

rD

ecem

ber

Dec

embe

rB

ase

Rat

e16

.00

18

.00

18

.00

18

.00

18

.00

18

.00

V

olum

e C

harg

e8.

75%

8.75

%8.

75%

0.00

%0.

00%

0.00

%

----

----

----

----

----

----

----

----

----

----

----

----

----

----

---F

orec

ast-

----

----

----

----

----

----

----

----

----

----

----

----

----

---

88


Rating Agency Presentation Wastewater Appropriable Net Asset Calculation

Current AssetsTotal Current Assets 15,082,891$ Less: Cash Funded Capital Projects (3,007,045)


Current LiabilitiesAccounts Payable 12,663,500 Less: Capital Not Drawn Down (11,682,304) Accrued Liabilities 147,725 Accrued Interest Payable - Customer Deposits - Due to Other Funds -


Cashflow CalculationsCurrent Assets Less Current Liabilities 10,946,925 Add: Restricted Cash Reserved for Debt Service 7,986,928

Total Available Cash at September 30, 2015 18,933,853

September 30, 2015Target Net Assets Policy 25.00%Target Net Assets by Policy 8,740,403$ Available for Reallocation 10,193,450 Percentage of Net Asset Policy 216.6%

FY 2015-16 BudgetRevenues 38,663,447 Non-Operating Revenues 84,500 Expenses (41,577,430)

Revenue Over/(Under) Expenditures (2,829,483)

Total Available Cash at September 30, 2016 16,104,370

Estimated September 30, 2016Target Net Assets Policy 25.00%Target Net Assets by Policy 9,665,862$ Available for Reallocation 6,438,508 Percentage of Net Asset Policy 166.6%

Note: 1. Revenue Over/(Under) Expenditures is inclued in Budgeted Use of Available Cash Line2. Revenue over expenditures shows as a negative in the budgeted use of available cash line

89

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Cas

h an

d ca

sh e

quiv

alen

ts4,

990,

325

$

11

3,87

0$

60,4

67$

37,6

08$

17,4

20$

925,

414

$

2,

019,

182

$

2,

715,

306

$

2,

339,

231

$

1,

307,

452

$

In

vest

men

ts4,

338,

932

8,

211,

077

7,

403,

649

7,

246,

505

9,

824,

014

10

,734

,986

10

,504

,721

11

,556

,723

11

,703

,665

9,

769,

155

A

ccou

nts r

ecei

vabl

e, (n

et)

2,25

7,67

4

2,34

9,33

7

2,29

7,83

4

3,06

9,47

8

2,95

3,82

9

3,20

0,12

8

3,29

1,53

9

3,50

1,03

4

3,38

1,42

3

3,86

9,72

9

Inte

rest

rece

ivab

le17

,612

58

,956

16

5,33

0

58,3

84

4,23

5

3,00

0

5,92

5

37,6

38

68,2

99

84,5

73

Due

from

oth

er g

over

nmen

ts-

118,

296

16

1,95

8

19,2

14

47,4

01

69,3

68

71,3

88

61,6

48

124,

526

-

Due

from

oth

er fu

nds

145,

322

-

- 41

1,05

6

68,3

99

29,3

77

39,9

17

2,21

6

98,2

53

51,9

82

Tot

al c

urre

nt a

sset

s11

,749

,865

10

,851

,536

10

,089

,238

10

,842

,245

12

,915

,298

14

,962

,273

15

,932

,672

17

,874

,565

17

,715

,397

15

,082

,891

Res

trict

ed A

sset

s:19

,396

,489

16

,592

,638

65

,862

,511

39

,012

,371

24

,569

,486

60

,953

,267

48

,607

,853

67

,187

,048

91

,554

,366

12

5,00

6,28

9

Tot

al re

stric

ted

asse

ts19

,396

,489

16

,592

,638

65

,862

,511

39

,012

,371

24

,569

,486

60

,953

,267

48

,607

,853

67

,187

,048

91

,554

,366

12

5,00

6,28

9

Cap

ital A

sset

s:La

nd12

,578

,775

12

,578

,774

12

,578

,774

12

,593

,774

12

,935

,722

12

,976

,784

13

,070

,718

13

,180

,650

16

,676

,067

16

,842

,159

C

onst

ruct

ion

in p

rogr

ess

8,37

7,60

3

11,1

70,8

84

21,6

54,1

74

38,6

41,8

76

56,3

30,0

26

69,8

22,0

00

35,9

47,3

93

50,6

62,8

68

33,3

82,9

56

84,1

87,8

28

Build

ings

24,0

13,1

70

24,0

13,1

70

24,0

18,8

14

24,0

59,4

40

24,0

59,4

40

24,0

59,4

40

25,0

73,9

78

25,3

35,1

24

25,6

04,8

19

26,2

23,5

05

Impr

ovem

ents

oth

er th

an b

uild

ings

114,

818,

170

12

3,29

2,69

6

127,

470,

376

14

1,79

1,56

8

145,

302,

080

14

8,48

9,01

7

193,

651,

029

19

8,52

5,07

0

217,

681,

499

22

7,56

2,51

6

Mac

hine

ry a

nd e

quip

men

t17

,684

,958

17

,565

,261

18

,054

,744

18

,320

,717

18

,761

,888

19

,242

,691

30

,103

,386

26

,889

,252

38

,030

,483

39

,126

,272

A

llow

ance

for d

epre

ciat

ion

(63,

919,

720)

(6

8,60

7,59

5)

(73,

516,

931)

(7

8,74

3,13

9)

(83,

831,

670)

(8

8,82

4,03

9)

(94,

255,

123)

(9

6,46

4,40

1)

(103

,017

,691

)

(1

11,3

97,1

11)

Net

pro

perty

, pla

nt a

nd e

quip

men

t11

3,55

2,95

6

120,

013,

190

13

0,25

9,95

1

156,

664,

236

17

3,55

7,48

6

185,

765,

893

20

3,59

1,38

1

218,

128,

563

22

8,35

8,13

3

282,

545,

169

Tota

l ass

ets

144,

699,

310

14

7,45

7,36

4

206,

211,

700

20

6,51

8,85

2

211,

042,

270

26

1,68

1,43

3

268,

131,

906

30

3,19

0,17

6

337,

627,

896

42

2,63

4,34

9

Def

ferre

d O

utflo

ws o

f Res

ourc

es

Def

erre

d ch

arge

on

refu

ndin

g-

- -

- -

- -

478,

830

90

5,90

9

2,46

8,31

3

Def

erre

d ou

tflow

s fro

m p

ensio

ns-

- -

- -

- -

- -

631,

594

Tota

l def

erre

d ou

tflow

s of r

esou

rces

- -

- -

- -

- 47

8,83

0

905,

909

3,

099,

907

City

of L

ubbo

ck, T

XW

aste

wat

er F

und

Bal

ance

She

etFo

r Fisc

al Y

ears

End

ed S

epte

mbe

r 30

90

Liab

ilitie

s and

Net

Pos

ition

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

liab

ilitie

s:A

ccou

nts p

ayab

le1,

066,

886

1,

361,

699

2,

760,

545

1,

863,

040

2,

355,

350

3,

423,

204

2,

966,

817

1,

267,

873

4,

964,

812

12

,663

,500

A

ccru

ed li

abili

ties

129,

143

17

5,69

9

200,

251

21

0,05

5

232,

466

99

,667

81

,676

11

2,16

7

128,

067

14

7,72

5

Acc

rued

inte

rest

pay

able

473,

697

35

7,31

1

654,

239

65

7,48

2

593,

360

1,

052,

726

83

2,81

5

923,

410

1,

466,

274

1,

756,

567

Le

ase

paya

ble

509,

081

36

4,07

1

473,

734

52

8,87

0

433,

453

20

5,51

7

305,

629

45

0,90

4

441,

025

46

4,58

8

Bond

s pay

able

4,46

0,68

8

4,81

4,66

3

6,62

0,94

2

6,25

2,63

6

6,71

7,24

8

7,64

4,11

3

8,73

3,34

6

9,89

9,41

2

9,56

3,23

9

10,8

48,1

46

Tot

al c

urre

nt li

abili

ties

6,63

9,49

5

7,07

3,44

3

10,7

09,7

11

9,51

2,08

3

10,3

31,8

77

12,4

25,2

27

12,9

20,2

83

12,6

53,7

66

16,5

63,4

17

25,8

80,5

26

Long

-term

liab

ilitie

s:C

ompe

nsat

ed a

bsen

ces

479,

164

50

4,54

0

499,

231

52

9,59

4

554,

789

56

6,77

3

526,

395

56

1,02

2

536,

238

53

2,06

0

Reb

atab

le a

rbitr

age

31,8

06

183,

482

18

4,35

1

97,1

52

54,4

75

- -

- -

- Po

st e

mpl

oym

ent b

enef

its-

- 13

0,08

2

244,

856

45

2,98

9

635,

116

90

4,63

0

1,26

4,79

8

1,57

5,53

1

1,86

7,49

3

Net

pen

sion

oblig

atio

n-

- -

103,

402

26

2,79

1

441,

461

47

7,47

2

481,

052

48

4,13

0

3,21

0,39

1

Leas

es p

ayab

le1,

187,

000

1,

001,

256

1,

114,

259

90

0,17

4

623,

281

98

7,40

1

1,66

7,53

2

2,32

7,56

0

2,27

9,67

2

2,28

7,92

4

Bond

s pay

able

54,3

15,1

10

54,0

75,1

35

106,

454,

669

99

,814

,731

97

,118

,616

13

4,92

1,26

0

135,

512,

921

16

1,22

8,19

5

193,

539,

869

25

7,23

6,98

6

Tot

al lo

ng-te

rm li

abili

ties

56,0

13,0

80

55,7

64,4

13

108,

382,

592

10

1,68

9,90

9

99,0

66,9

41

137,

552,

011

13

9,08

8,95

0

165,

862,

627

19

8,41

5,44

0

265,

134,

854

To

tal l

iabi

litie

s62

,652

,575

62

,837

,856

11

9,09

2,30

3

111,

201,

992

10

9,39

8,81

8

149,

977,

238

15

2,00

9,23

3

178,

516,

393

21

4,97

8,85

7

291,

015,

380

Def

erre

d In

flow

s of R

esou

rces

Def

erre

d in

flow

from

pen

sions

- -

- -

- -

- -

- 15

2,69

4

Tota

l def

erre

d in

flow

of r

esou

rces

- -

- -

- -

- -

- 15

2,69

4

Net

pos

ition

Net

inve

stm

ent i

n ca

pita

l ass

ets

69,5

16,4

62$

59,7

58,0

65$

76,7

84,5

10$

84,0

68,3

87$

88,9

60,5

90$

97,2

42,5

50$

100,

492,

309

$

10

5,31

8,44

0$

107,

435,

685

$

11

9,51

2,89

5$

Res

trict

ed fo

r: C

apita

l pro

ject

s-

13,5

82,1

76

- -

- -

-

-

-

-

D

ebt S

ervi

ce2,

937,

014

3,

008,

905

4,

506,

302

4,

111,

808

4,

273,

783

5,

718,

319

5,

487,

497

6,

569,

930

6,

653,

009

7,

986,

928

U

nres

trict

ed9,

593,

259

8,

270,

362

5,

828,

585

7,

136,

665

8,

409,

079

8,

743,

326

10

,142

,867

13

,264

,243

9,

466,

254

7,

066,

359

T

otal

net

pos

ition

82,0

46,7

35$

84,6

19,5

08$

87,1

19,3

97$

95,3

16,8

60$

101,

643,

452

$

11

1,70

4,19

5$

116,

122,

673

$

12

5,15

2,61

3$

123,

554,

948

$

13

4,56

6,18

2$

City

of L

ubbo

ck, T

XW

aste

wat

er F

und

Bal

ance

She

etFo

r Fisc

al Y

ears

End

ed S

epte

mbe

r 30

91

2006

2007

2008

2009

2010

2011

2012

2013

**20

1420

15**

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces (

net)

21,0

87,3

64$

19

,841

,503

$

21,0

95,7

45$

24

,479

,551

$

26,7

20,7

57$

29

,942

,844

$

31,6

26,5

39$

33

,578

,597

$

33,7

03,9

45$

34

,961

,611

$

Tot

al o

pera

ting

reve

nues

21,0

87,3

64

19

,841

,503

21,0

95,7

45

24

,479

,551

26,7

20,7

57

29

,942

,844

31,6

26,5

39

33

,578

,597

33,7

03,9

45

34

,961

,611

Ope

ratin

g ex

pens

es:

Pers

onal

serv

ices

3,81

6,41

4

3,93

0,39

7

4,12

0,42

2

3,99

8,14

5

4,27

0,92

2

4,33

2,36

6

4,42

7,65

4

4,68

1,02

4

4,77

2,84

6

4,70

1,54

9

Supp

lies

972,

075

911,

261

1,02

8,57

2

950,

832

852,

697

814,

666

1,02

6,95

8

899,

321

840,

080

825,

025

Mai

nten

ance

1,17

6,30

2

1,44

6,73

5

1,29

0,05

0

1,35

5,28

2

1,22

5,65

3

1,26

1,49

4

1,28

4,67

4

1,01

7,27

9

1,11

1,41

4

1,30

2,61

2

Col

lect

ion

expe

nse

926,

172

- 1,

074,

669

1,

127,

431

1,

145,

930

1,

106,

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1,

150,

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1,

150,

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1,

884,

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1,

904,

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O

ther

serv

ices

and

cha

rges

6,88

7,39

4

4,41

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9

4,19

1,44

3

3,70

6,99

3

3,68

5,76

6

3,73

2,76

9

6,18

0,78

9

4,02

5,73

4

6,09

8,69

5

4,69

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1

Dep

reci

atio

n an

d am

ortiz

atio

n5,

462,

027

5,

441,

892

5,

432,

048

5,

371,

971

5,

494,

099

5,

163,

373

6,

837,

420

6,

783,

000

7,

258,

311

8,

475,

569

T

otal

ope

ratin

g ex

pens

es19

,240

,384

16,1

45,4

24

17

,137

,204

16,5

10,6

54

16

,675

,067

16,4

11,5

25

20

,908

,410

18,5

57,2

73

21

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21,9

08,0

80

Ope

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g in

com

e (lo

ss)

1,84

6,98

0

3,69

6,07

9

3,95

8,54

1

7,96

8,89

7

10,0

45,6

90

13

,531

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10,7

18,1

29

15

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11,7

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06

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Non

-ope

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g re

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:In

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4,02

0

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167,

249

1,

837,

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1,

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252

1,

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48

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28

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14

5,27

2

25

3,74

4

Fe

dera

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- -

- 28

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47

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11

6,49

7

93

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21

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46

1,16

6

-

Dis

posi

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of P

rope

rties

92,2

21

84,2

86

9,39

3

7,67

0

21,1

77

9,19

7

(62,

527)

(286

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16

1,00

6

61

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M

isce

llane

ous

128,

000

289,

910

107,

762

106,

160

78,8

68

79,5

86

84,2

53

72,9

87

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85

97,3

35

IRS

Bui

ld A

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78,8

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15

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)

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55)

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)

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)

(1,4

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otal

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(1,1

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(4

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Tota

l net

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ition

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$

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$

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$

125,

152,

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$

123,

554,

948

$

134,

566,

182

$

**N

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on -

beg

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rest

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For F

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tem

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ent o

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s, Ex

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nd C

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Fun

d N

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onW

aste

wat

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und

City

of L

ubbo

ck, T

X

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Fund

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Am

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f Bud

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93


Rating Agency PresentationSolid Waste Fund Model

BudgetFY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021

RevenuesLandfill Fees 5,538,555 5,908,496 6,285,282 6,669,013 6,735,703 6,803,060 Interest Revenues - 2,762 2,612 3,600 4,032 43,570 Revenue from Rentals 1,500 1,500 1,500 1,500 1,500 1,500 Refunds and Recoveries - - - - - -Revenue From Junk Sales 415,000 435,750 457,538 480,414 504,435 529,657 Revenue From Recycling 150,000 151,500 153,015 154,545 156,091 157,652 Revenue from Dept Operations 15,089,344 16,232,962 16,896,618 17,065,584 17,236,240 17,408,603 Transfers From Other Funds - - - -

Total Funding Sources 21,194,399 22,732,971 23,796,564 24,374,657 24,638,001 24,944,041

ExpendituresTotal Salaries 4,978,312 5,077,879 5,179,436 5,283,025 5,388,685 5,496,459 Total Benefits 2,520,412 2,659,655 2,810,566 2,974,266 3,151,990 3,345,092 Total Supplies 1,901,297 1,939,323 1,978,110 2,017,672 2,058,026 2,099,186 Total Maintenance 2,451,705 2,500,739 2,550,754 2,601,769 2,411,990 2,460,230 Total Professional Services / Training 482,337 491,984 501,824 511,860 522,097 532,539 Total Other Charges 220,529 224,939 229,438 234,027 238,708 243,482 Total Scheduled Charges 443,051 451,912 460,950 470,169 479,573 489,164 Total Capital Outlay 193,540 193,540 193,540 193,540 193,540 193,540 Total Transfers 3,350,679 3,488,767 3,604,780 3,698,238 3,777,737 3,861,199 Total Other Expenditures 358 362 365 369 373 376 Pay-As-You-Go Funding in CIP 256,603 500,000 - - - - Existing Debt Service 1,777,671 1,763,589 1,748,351 1,571,535 1,528,362 1,459,521

Less: Interest Earnings on Bond Proceeds (3,144) (2,125) (956) (38) - - Less: Build America Bond Subsidy (8,630) (8,630) (8,412) (7,965) (7,489) (6,979)

Total New Debt Service - 780,617 825,400 825,379 822,658 824,179 Total Master Lease 3,912,579 3,803,214 4,355,029 4,768,857 3,746,668 3,843,909


Total Expenditures (Over)/Under Revenues (1,282,900) (1,132,794) (632,610) (768,048) 325,083 102,144

Net Asset CalculationAppropriable Net Position 4,604,031 4,352,972 4,799,992 4,031,945 4,357,028 4,459,172 Due From Other Fund (North Overton TIF) 881,735 1,079,630Less: Appropriable Net Position Policy (3,094,185) (3,321,219) (3,477,285) (3,560,190) (3,595,791) (3,631,749)

Total Appropriable Net Position 2,391,581 2,111,383 1,322,707 471,755 761,236 827,422

Coverage 1.44 1.50 1.52 1.52 1.01

Rate AnalysisTipping Fees 32.00 34.00 36.00 38.00 38.00 38.00 Residential Rate 15.25 16.25 16.75 16.75 16.75 16.75

.

The proposed rate structure incorporated in this model is subject to change depending on many variables. Some of these variables may include: competition with smaller arid exempt landfills,interest rates, commodity prices, inflation rates, and changes in the cost or priority of capital projects.

-----------------------------------------------Forecast----------------------------------------------

94

Total Current Assets 11,066,750$ Less: Cash Funded Capital Projects (417,476) Less: Due from other Funds (1,988,152) Less: Inventories -


Current LiabilitiesAccounts Payable 273,205 Less: Accounts Payable Retainage (243.3097) - Accrued Liabilities 262,625 Customer Deposits 9,572 Due to Other Funds -

Total Current Liabilities 545,402

Cashflow CalculationsCurrent Assets Less Current Liabilities 8,115,720 Add: Restricted Cash Reserved for Debt Service (241.1058) 703,181



FY 2015-16 BudgetOperating Revenues 20,627,899$ Non-Operating Revenues 1,448,235 Expenses (22,477,299)

Revenue Over/(Under) Expenses (401,165)



95

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Cas

h an

d ca

sh e

quiv

alen

ts2,

737,

646

$

118,

621

$

83,4

18$

42

,563

$

9,21

7$

72

7,20

1$

98

4,61

5$

1,

125,

695

$

927,

660

$

856,

757

$

Inve

stm

ents

2,38

0,29

8

8,

553,

673

10,2

13,7

60

8,20

1,11

2

6,

529,

464

7,88

0,60

6

5,

122,

421

4,79

1,11

5

4,

641,

279

6,40

1,61

3

A

ccou

nts r

ecei

vabl

e, (n

et)

1,70

8,69

9

2,

025,

363

2,15

6,60

6

1,

762,

577

1,64

9,66

1

1,

826,

945

2,07

6,06

1

1,

777,

956

1,76

7,65

2

1,

816,

456

Inte

rest

rece

ivab

le9,

665

13

,124

39

,636

23

,740

1,

783

1,

512

1,

327

3,

566

2,

793

3,

772

D

ue fr

om o

ther

fund

s1,

540,

853

1,10

0,00

0

51

1,99

6

1,92

5,12

4

2,

571,

784

2,91

8,89

3

3,

419,

341

3,40

4,88

6

2,

754,

592

1,98

8,15

2

T

otal

cur

rent

ass

ets

8,37

7,16

1

11

,810

,781

13

,005

,416

11

,955

,116

10

,761

,909

13

,355

,157

11

,603

,765

11

,103

,218

10

,093

,976

11

,066

,750

Res

trict

ed A

sset

s:7,

320,

509

4,73

7,39

5

3,

133,

240

2,73

8,88

7

2,

683,

885

3,50

9,53

6

2,

343,

130

2,05

4,06

2

2,

350,

897

2,36

2,94

8

Tot

al re

stric

ted

asse

ts7,

320,

509

4,73

7,39

5

3,

133,

240

2,73

8,88

7

2,

683,

885

3,50

9,53

6

2,

343,

130

2,05

4,06

2

2,

350,

897

2,36

2,94

8

Cap

ital A

sset

s:La

nd1,

607,

932

1,60

7,93

2

1,

607,

932

1,60

7,93

2

1,

607,

932

1,60

7,93

2

1,

607,

932

1,60

7,93

2

1,

607,

932

1,60

7,93

2

C

onst

ruct

ion

in p

rogr

ess

991,

100

3,

762,

050

589,

113

2,

297,

003

2,02

3,53

8

5,

432,

958

7,11

2,72

7

2,

021

2,

021

65

,961

Bu

ildin

gs1,

596,

858

1,59

6,85

8

1,

596,

858

1,63

4,57

4

1,

634,

574

1,63

4,57

4

1,

634,

574

1,63

4,57

4

1,

634,

574

1,63

4,57

4

Im

prov

emen

ts o

ther

than

bui

ldin

gs20

,599

,958

20

,646

,551

26

,271

,526

26

,794

,234

27

,463

,935

27

,425

,771

27

,671

,381

35

,063

,732

35

,163

,732

34

,919

,651

M

achi

nery

and

equ

ipm

ent

23,7

57,2

51

25,2

22,2

11

27,4

27,1

05

32,1

14,8

43

31,3

34,3

68

32,8

47,4

93

34,0

55,5

96

38,2

93,1

48

37,6

42,0

81

39,0

57,9

98

Allo

wan

ce fo

r dep

reci

atio

n(3

2,66

3,07

8)

(34,

252,

633)

(3

6,21

1,03

6)

(41,

094,

028)

(4

2,93

4,63

4)

(45,

401,

233)

(4

8,12

5,71

9)

(50,

685,

379)

(5

1,01

5,28

3)

(53,

617,

074)

N

et p

rope

rty, p

lant

and

equ

ipm

ent

15,8

90,0

21

18,5

82,9

69

21,2

81,4

98

23,3

54,5

58

21,1

29,7

13

23,5

47,4

95

23,9

56,4

91

25,9

16,0

28

25,0

35,0

57

23,6

69,0

42

Tota

l ass

ets

31,5

87,6

91

35,1

31,1

45

37,4

20,1

54

38,0

48,5

61

34,5

75,5

07

40,4

12,1

88

37,9

03,3

86

39,0

73,3

08

37,4

79,9

30

37,0

98,7

40

Def

ferr

ed O

utflo

ws o

f Res

ourc

es

Def

erre

d ch

arge

on

refu

ndin

g-

- -

- -

- -

62,6

82

179,

350

26

5,58

6

Def

erre

d ou

tflow

s fro

m p

ensi

ons

- -

- -

- -

- -

- 74

6,99

2

Tota

l def

erre

d ou

tflow

s of r

esou

rces

- -

- -

- -

- 62

,682

17

9,35

0

1,01

2,57

8

City

of L

ubbo

ck, T

XSo

lid W

aste

Fun

dB

alan

ce S

heet

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

96

Liab

ilitie

s and

Net

Pos

ition

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

liab

ilitie

s:A

ccou

nts p

ayab

le35

4,73

7

153,

382

10

7,49

0

141,

577

33

1,63

1

1,59

6,78

4

41

5,07

0

266,

169

23

2,47

7

273,

205

A

ccru

ed li

abili

ties

196,

537

25

9,47

0

299,

676

33

1,53

7

344,

679

18

8,29

3

200,

642

21

9,66

4

250,

787

26

2,62

5

Acc

rued

inte

rest

pay

able

146,

129

10

1,18

5

118,

244

11

9,46

3

120,

567

18

3,11

0

129,

972

11

7,19

3

130,

269

92

,638

C

usto

mer

dep

osits

7,07

2

7,37

2

7,77

2

8,17

2

8,67

2

8,67

2

9,07

2

9,37

2

9,57

2

9,57

2

Leas

e pa

yabl

e70

5,85

4

1,16

1,12

3

1,

845,

507

3,37

6,65

9

4,

170,

808

4,51

2,48

6

3,

642,

755

3,42

2,11

2

3,

648,

946

3,51

6,47

6

Bo

nds p

ayab

le50

8,33

8

647,

257

56

2,34

3

683,

940

71

5,27

8

851,

732

98

1,61

3

1,04

2,77

2

1,

069,

915

1,12

6,53

3

T

otal

cur

rent

liab

ilitie

s1,

918,

667

2,32

9,78

9

2,

941,

032

4,66

1,34

8

5,

691,

635

7,34

1,07

7

5,

379,

124

5,07

7,28

2

5,

341,

966

5,28

1,04

9

Lo

ng-te

rm li

abili

ties:

Land

fill c

losu

re/P

ostc

losu

re c

are

cost

s3,

299,

131

3,53

1,61

1

3,

770,

566

3,96

7,29

0

4,

886,

726

5,06

7,01

8

5,

050,

212

5,07

9,34

9

5,

271,

506

5,44

0,17

3

C

ompe

nsat

ed a

bsen

ces

490,

662

53

5,32

4

555,

800

67

1,20

9

662,

581

57

3,94

6

641,

523

66

4,79

6

712,

580

73

1,54

9

Post

em

ploy

men

t ben

efits

- -

222,

037

41

7,71

8

766,

741

1,

050,

970

1,50

4,43

9

1,

960,

346

2,37

6,11

6

2,

802,

829

Net

pen

sion

obl

igat

ion

- -

- 11

2,65

5

287,

326

47

3,85

7

509,

871

51

4,01

2

517,

588

3,

796,

961

Reb

atab

le A

rbitr

age

- 34

,875

35

,848

9,

711

-

- -

- -

- N

otes

pay

able

2,46

5,83

8

4,

842,

840

7,09

9,94

4

9,

482,

831

8,77

0,31

0

6,

281,

764

5,46

6,48

9

8,

403,

901

8,04

3,53

7

8,

049,

810

Bond

s pay

able

11,6

80,3

34

12,3

73,7

33

13,1

11,7

67

12,8

39,8

75

12,7

55,7

53

18,6

28,2

02

17,5

83,4

03

16,6

52,2

96

15,8

93,0

98

14,7

18,2

43

Tot

al lo

ng-te

rm li

abili

ties

17,9

35,9

65

21,3

18,3

83

24,7

95,9

62

27,5

01,2

89

28,1

29,4

37

32,0

75,7

57

30,7

55,9

37

33,2

74,7

00

32,8

14,4

25

35,5

39,5

65

Tota

l lia

bilit

ies

19,8

54,6

32

23,6

48,1

72

27,7

36,9

94

32,1

62,6

37

33,8

21,0

72

39,4

16,8

34

36,1

35,0

61

38,3

51,9

82

38,1

56,3

91

40,8

20,6

14

Def

erre

d In

flow

s of R

esou

rces

Def

erre

d in

flow

from

pen

sion

s-

- -

- -

- -

- -

180,

593

Tota

l def

erre

d in

flow

of r

esou

rces

- -

- -

- -

- -

- 18

0,59

3

Net

pos

ition

Net

inve

stm

ent i

n ca

pita

l ass

ets

7,46

6,70

3$

(4

41,9

84)

$

1,38

0,90

5$

(7

46,5

19)

$

(3,0

68,1

57)

$

(3

,893

,815

)$

(1,9

76,9

49)

$

(2

,147

,961

)$

(1,9

50,7

60)

$

(1

,836

,851

)$

Res

trict

ed fo

r:

Cap

ital p

roje

cts

- 4,

296,

688

- -

- -

- -

- -

D

ebt S

ervi

ce37

9,13

5

425,

946

40

0,07

7

456,

658

46

9,60

5

676,

662

60

2,30

8

659,

652

68

1,21

8

703,

181

U

nres

trict

ed3,

887,

221

7,20

2,32

3

7,

902,

178

6,17

5,78

5

3,

352,

987

4,21

2,50

7

3,

142,

966

2,27

2,31

7

77

2,43

1

(1,7

56,2

19)

To

tal n

et p

ositi

on11

,733

,059

$

11

,482

,973

$

9,

683,

160

$

5,88

5,92

4$

75

4,43

5$

99

5,35

4$

1,

768,

325

$

784,

008

$

(497

,111

)$

(2

,889

,889

)$

City

of L

ubbo

ck, T

XSo

lid W

aste

Fun

dB

alan

ce S

heet

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

97

2006

2007

2008

2009

2010

2011

2012

2013

**20

1420

15**

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces (

net)

13,9

48,8

61$

16,8

85,0

42$

16,7

54,4

38$

16,9

79,9

75$

17,0

37,5

06$

18,8

07,5

31$

19,4

83,0

45$

19,5

38,6

78$

19,7

16,6

06$

20,6

62,2

31$

Tot

al o

pera

ting

reve

nues

13,9

48,8

61

16,8

85,0

42

16,7

54,4

38

16,9

79,9

75

17,0

37,5

06

18,8

07,5

31

19,4

83,0

45

19,5

38,6

78

19,7

16,6

06

20,6

62,2

31

Ope

ratin

g ex

pens

es:

Pers

onal

serv

ices

4,55

4,46

3

5,03

8,71

6

5,36

9,67

6

5,82

9,35

4

5,84

6,67

1

5,82

3,89

7

6,27

7,24

6

6,43

1,86

6

6,61

7,48

6

6,64

0,67

3

Supp

lies

1,44

9,48

0

1,47

8,19

4

2,01

6,34

0

1,22

3,42

4

1,49

6,73

7

1,60

3,31

3

1,64

8,74

5

1,97

6,91

8

1,99

7,87

8

2,01

9,89

6

Mai

nten

ance

2,32

6,45

4

2,55

0,97

9

2,30

6,08

6

2,79

2,51

3

2,53

7,27

5

2,27

4,26

6

2,74

1,92

3

2,66

5,91

7

2,35

5,08

8

2,54

1,83

5

Col

lect

ion

expe

nse

512,

832

-

694,

832

72

8,94

5

579,

743

58

7,41

2

610,

487

61

0,48

7

779,

108

82

2,44

6

Oth

er se

rvic

es a

nd c

harg

es1,

888,

246

1,

673,

189

1,

733,

035

1,

779,

374

3,

185,

242

1,

375,

680

1,

091,

090

1,

103,

641

1,

226,

877

1,

392,

298

D

epre

ciat

ion

and

amor

tizat

ion

3,87

5,81

9

3,89

6,00

5

4,23

3,67

5

5,41

4,39

4

5,35

2,12

2

4,32

5,00

3

4,27

9,11

7

4,83

3,42

1

4,82

7,98

4

3,92

7,06

7

Tot

al o

pera

ting

expe

nses

14,6

07,2

94

14,6

37,0

83

16,3

53,6

44

17,7

68,0

04

18,9

97,7

90

15,9

89,5

71

16,6

48,6

08

17,6

22,2

50

17,8

04,4

21

17,3

44,2

15

Ope

ratin

g in

com

e (lo

ss)

(658

,433

)

2,

247,

959

40

0,79

4

(788

,029

)

(1

,960

,284

)

2,81

7,96

0

2,83

4,43

7

1,91

6,42

8

1,91

2,18

5

3,31

8,01

6

Non

-ope

ratin

g re

venu

es (e

xpen

ses)

:In

tere

st47

3,78

7

527,

690

45

9,97

9

180,

239

28

,738

9,

134

17

,576

4,

754

20

,645

47

,556

D

ispo

sitio

n of

Pro

perti

es18

,372

58

2,01

6

384,

663

78

,095

22

5,61

4

256,

618

49

6,70

5

412,

691

93

,516

27

5,17

4

Mis

cella

neou

s20

4,42

3

162,

401

20

2,25

3

100,

047

15

3,35

9

271,

019

56

5,91

7

150,

600

16

8,10

3

231,

744

IR

S B

uild

Am

eric

a B

ond

Subs

idy

- -

- -

- 14

,249

9,

337

8,

931

8,

640

8,

630

In

tere

st o

n bo

nds a

nd n

otes

(340

,723

)

(6

47,8

22)

(532

,402

)

(5

55,1

29)

(976

,320

)

(7

99,8

71)

(781

,994

)

(9

68,1

79)

(835

,008

)

(7

65,7

15)

Tot

al n

on-o

pera

ting

reve

nues

(exp

ense

s)35

5,85

9

624,

285

51

4,49

3

(196

,748

)

(5

68,6

09)

(248

,851

)

30

7,54

1

(391

,203

)

(5

44,1

04)

(202

,611

)

Inc

ome

(loss

) bef

ore

oper

atin

g tra

nsfe

rs(3

02,5

74)

2,87

2,24

4

915,

287

(9

84,7

77)

(2,5

28,8

93)

2,

569,

109

3,

141,

978

1,

525,

225

1,

368,

081

3,

115,

405

Cap

ital C

ontri

butio

ns21

,633

25

,007

8,

555

37

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-

- -

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4

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3,41

5

Tran

sfer

s in

- -

35,0

00

- -

- -

- -

- Tr

ansf

ers (

out)

(1,8

71,0

84)

(3

,147

,337

)

(2,7

58,6

55)

(2

,850

,175

)

(2,6

02,5

96)

(2

,328

,190

)

(2,3

69,0

07)

(2

,389

,578

)

(2,7

25,6

48)

(2

,688

,063

)

Cha

nge

in n

et p

ositi

on(2

,152

,025

)

(250

,086

)

(1

,799

,813

)

(3,7

97,2

36)

(5

,131

,489

)

240,

919

77

2,97

1

(857

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(1

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)

430,

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To

tal n

et p

ositi

on -

begi

nnin

g of

yea

r13

,885

,084

11

,733

,059

11

,482

,973

9,

683,

160

5,

885,

924

75

4,43

5

995,

354

1,

641,

327

78

4,00

8

(3,3

20,6

46)

To

tal n

et p

ositi

on -

endi

ng11

,733

,059

$

11

,482

,973

$

9,

683,

160

$

5,

885,

924

$

75

4,43

5$

99

5,35

4$

1,

768,

325

$

78

4,00

8$

(4

97,1

11)

$

(2,8

89,8

89)

$

**N

et p

ositi

on -

beg

inni

ng o

f yea

r was

rest

ated

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0St

atem

ent o

f Rev

enue

s, Ex

pens

es, a

nd C

hang

es in

Fun

d N

et P

ositi

onSo

lid W

aste

Fun

dC

ity o

f Lub

bock

, TX

98

Fund

ing

Am

ount

Exp

Oct

ober

Nov

embe

rD

ecem

ber

Proj

ect t

oFu

nds

% F

unds

% o

f Bud

get

Orig

Dat

e of

Clo

sed

Proj

ect N

umbe

r/Nam

eTo

Dat

eA

s of 9

/30/

2015

2015

2015

2015

Dat

e To

tal

Rem

aini

ngR

emai

ning

Spen

tA

ppro

pria

tion

9230

8La

ndfil

l Im

prov

emen

ts75

,000

$

- -

--

- 75

,000

10

0.00

-

9/13

/201

292

350

Sout

hsid

e O

ffic

e B

uild

ing

Expa

nsio

n27

5,38

0

17,1

12

3,32

8

--

20,4

40

254,

940

92

.58

7.

42

9/10

/201

392

390

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l 5 D

evel

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ent 2

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6,37

9,20

0

13

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(3

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)-

- 10

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l 69

Shop

Ren

ovat

ion

312,

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-

-14

,960

-

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9/11

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l VI F

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t 69

571,

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9,

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-

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-

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fill 6

9 G

as C

olle

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stem

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lace

men

t35

2,55

0

- -

--

- 35

2,55

0

100.

00

- 9/

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aste

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icle

Rep

lace

men

t FY

201

5-16

256,

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-

--

- -

256,

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10

0.00

-

9/10

/201

5To

tal

8,22

3,00

0$

39

,469

25

4

15,7

65

- 55

,488

8,

167,

512

99.3

3

0.67

Fina

nce

Dep

artm

ent

Rat

ing

Age

ncie

s Pre

sent

atio

nSo

lid W

aste

Cap

ital P

roje

cts

As o

f Dec

embe

r 31

, 201

5

City

of L

ubbo

ck, T

X

99


Rating Agency PresentationStorm Water Fund Model

BudgetFY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021

RevenuesInterest Revenues - 13,884 31,169 21,869 15,497 22,849 Revenue From Junk Sales 25,000 25,000 25,000 25,000 25,000 25,000 Revenue from Dept Operations 23,327,417 23,443,986 23,561,137 23,678,875 23,797,201 23,916,119 Transfers From Other Funds - - - - - -

Total Funding Sources 23,352,417 23,482,870 23,617,307 23,725,744 23,837,698 23,963,968

ExpendituresTotal Salaries 1,451,445 1,480,474 1,510,083 1,540,285 1,571,091 1,602,513 Total Benefits 792,945 838,677 888,312 942,225 1,000,831 1,064,585 Total Supplies 168,261 171,626 175,058 178,559 182,131 185,773 Total Maintenance 333,324 339,990 346,790 353,726 360,800 368,016 Total Other Charges 246,473 251,402 256,430 261,559 266,790 272,126 Total Capital Outlay - - - - - -Total Reimbursements - - - - - -Total Transfers 3,448,025 3,756,743 3,834,275 3,913,958 3,995,854 4,080,030 Total Other Expenditures 3,281 3,379 3,481 3,585 3,693 3,804Pay-As-You-Go Funding in CIP 2,050,000 1,050,000 550,000 950,000 450,000 200,000 Total Debt Service Annually 8,982,668 9,017,678 9,346,353 9,299,548 8,969,466 8,599,966 Transfer to Debt Service Fund 5,303,870 5,308,446 5,309,594 4,237,029 3,174,598 2,116,722

Less: Interest Income (1,634) (14,513) (9,675) (8,955) (2,745) (1,373) Less: Build America Bond Subsidy (19,904) (19,904) (19,401) (18,369) (17,271) (16,096)

Future Storm Water Project Debt Service - - 2,575,248 2,575,248 3,305,900 3,305,900 Total Master Lease 546,656 618,597 710,726 771,795 629,433 576,533


Total Expenditures (Over)/Under Revenues 47,008 680,273 (1,859,968) (1,274,447) (52,872) 1,605,469

Net Position CalculationAppropriable Net Position 5,553,545 6,233,818 4,373,850 3,099,402 3,046,531 4,651,999 Less: Policy Level Reserve (3,499,113) (3,516,598) (3,534,171) (3,551,831) (3,569,580) (3,587,418)

Reserve for Future Projects 2,054,432 2,717,220 839,679 (452,429) (523,050) 1,064,582 % Reserve for Future Projects 8.80%

% of Policy Level 159% 177% 124% 87% 85% 130%Coverage 1.49 1.48 1.11 1.20 1.25 1.38

Possible Needed Rate Increase As a % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%Value of Rate Increase in $ - - - - - -

110% 110% 110% 110% 110% 110%Rate Analysis

Residential Rate - Monthly (Tier 1) 8.80 8.80 8.80 8.80 8.80 8.80Residential Rate - Monthly (Tier 2) 13.48 13.48 13.48 13.48 13.48 13.48Residential Rate - Monthly (Tier 3) 17.05 17.05 17.05 17.05 17.05 17.05Residential Rate - Monthly (Tier 4) 25.58 25.58 25.58 25.58 25.58 25.58

Commercial Rate - Monthly *per ERU as of January 2015 25.58 25.58 25.58 25.58 25.58 25.58

This model incorporates the original debt associated with the Street Maintenance Program. The proposed rate structure incorporated in this model is subject to change depending on many variables.Some of these variables may include: interest rates, commodity prices, inflation rates, and changes in the cost or priority of capital projects.

--------------------------------------------------Forecast--------------------------------------------------

100


Rating Agencies PresentationStorm Water Appropriable Net Position Calculation

Current AssetsTotal Current Assets 3,900,170$ Less: Cash Funded Capital Projects (831,244)


Current LiabilitiesAccounts Payable 522,711 Accrued Liabilities 48,622


Cashflow CalculationsCurrent Assets Less Current Liabilities 2,497,593

Less: Negative Unrestricted - Add: Restricted Cash Reserved for Debt Service (included in 2015 expenses) 3,008,944



FY 2015-16 ForecastOperating Revenues 23,327,417$ Non-Operating Revenues 25,000 Expenses (23,305,409)

Revenue Over/(Under) Expenses 47,008



101

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Cas

h an

d ca

sh e

quiv

alen

ts6,

013,

928

$

13

9,93

6$

56,8

78$

25,5

14$

3,13

9$

496,

968

$

56

9,17

2$

136,

364

$

35

,627

$

15

4,40

6$

Inve

stm

ents

5,22

8,92

2

10

,090

,619

6,

964,

191

4,91

6,11

6

2,

329,

988

2,55

9,67

5

2,

961,

098

1,84

6,35

5

17

8,24

8

1,15

3,70

8

A

ccou

nts r

ecei

vabl

e, (n

et)

689,

268

75

9,59

6

825,

365

1,

016,

469

1,34

5,30

6

1,

647,

102

1,93

2,62

8

1,

910,

869

1,96

6,94

5

2,

581,

032

Inte

rest

rece

ivab

le4,

529

23

,349

65

,631

17

,426

1,

381

-

- 16

,622

14

,379

11

,024

T

otal

cur

rent

ass

ets

11,9

36,6

47

11,0

13,5

00

7,91

2,06

5

5,

975,

525

3,67

9,81

4

4,

703,

745

5,46

2,89

8

3,

910,

210

2,19

5,19

9

3,

900,

170

Res

trict

ed A

sset

s:22

,877

,972

15

,933

,371

15

,278

,471

9,

431,

775

9,68

8,47

4

10

,538

,324

39

,312

,900

22

,849

,521

11

,607

,414

6,

334,

838

Tot

al re

stric

ted

asse

ts22

,877

,972

15

,933

,371

15

,278

,471

9,

431,

775

9,68

8,47

4

10

,538

,324

39

,312

,900

22

,849

,521

11

,607

,414

6,

334,

838

Cap

ital A

sset

s:La

nd28

3,33

7

283,

337

28

3,33

7

545,

250

2,

267,

200

2,32

3,79

4

2,

822,

611

5,37

7,73

3

7,

447,

821

9,30

0,54

8

C

onst

ruct

ion

in p

rogr

ess

65,6

36,7

71

41,1

71,6

76

50,1

27,2

79

1,33

1,16

1

4,

238,

900

2,48

8,93

0

9,

738,

750

32,4

99,3

18

46,6

46,1

38

8,46

1,11

5

B

uild

ings

64,5

80

64,5

80

64,5

80

64,5

80

64,5

80

64,5

80

64,5

80

64,5

80

64,5

80

64,5

80

Impr

ovem

ents

oth

er th

an b

uild

ings

8,35

3,59

1

47

,823

,806

47

,834

,412

10

5,43

8,07

1

10

5,91

8,90

2

11

3,83

6,48

9

11

4,36

3,46

2

11

5,35

6,62

8

11

5,81

1,21

4

15

5,84

7,89

6

M

achi

nery

and

equ

ipm

ent

2,83

2,45

8

3,

447,

648

4,12

6,31

4

4,

796,

155

5,46

6,35

0

5,

603,

914

5,51

6,81

3

6,

161,

061

5,55

0,16

4

5,

728,

357

Allo

wan

ce fo

r dep

reci

atio

n(9

,252

,045

)

(10,

085,

396)

(11,

614,

025)

(12,

528,

082)

(15,

293,

200)

(17,

898,

036)

(20,

698,

418)

(23,

206,

373)

(25,

425,

440)

(28,

440,

164)

Net

pro

perty

, pla

nt a

nd e

quip

men

t67

,918

,692

82

,705

,651

90

,821

,897

99

,647

,135

10

2,66

2,73

2

10

6,41

9,67

1

11

1,80

7,79

8

13

6,25

2,94

7

15

0,09

4,47

7

15

0,96

2,33

2

Tota

l ass

ets

102,

733,

311

109,

652,

522

114,

012,

433

115,

054,

435

116,

031,

020

121,

661,

740

156,

583,

596

163,

012,

678

163,

897,

090

161,

197,

340

Def

ferr

ed O

utflo

ws o

f Res

ourc

esD

efer

red

char

ge o

n re

fund

ing

- -

- -

- -

- 2,

808,

943

2,79

8,97

0

3,

966,

214

Def

erre

d ou

tflow

s fro

m p

ensi

ons

- -

- -

- -

- -

- 22

1,33

2

Tota

l def

erre

d ou

tflow

s of r

esou

rces

- -

- -

- -

- 2,

808,

943

2,79

8,97

0

4,

187,

546

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0B

alan

ce S

heet

Stor

m W

ater

Fun

dC

ity o

f Lub

bock

, TX

102

Liab

ilitie

s and

Net

Pos

ition

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

liab

ilitie

s:A

ccou

nts p

ayab

le1,

146,

437

1,15

3,48

2

61

9,99

0

956,

905

16

0,46

4

473,

699

1,

326,

170

2,53

7,88

3

2,

425,

918

522,

711

A

ccru

ed li

abili

ties

27,2

37

44,5

68

69,4

44

79,5

39

84,9

19

32,3

27

36,2

50

41,3

65

47,1

63

48,6

22

Acc

rued

inte

rest

pay

able

666,

542

51

6,77

1

574,

084

54

1,32

8

535,

178

54

9,02

5

807,

089

69

1,75

8

668,

404

56

7,04

7

Leas

es p

ayab

le21

,145

38

,175

76

,176

33

4,60

4

386,

153

40

3,48

5

453,

675

56

4,57

4

400,

847

43

8,93

9

Bon

ds p

ayab

le1,

540,

083

1,95

2,50

7

2,

177,

520

2,33

8,88

4

2,

496,

765

2,68

0,27

4

3,

513,

339

4,36

0,70

4

4,

524,

721

4,55

5,61

6

T

otal

cur

rent

liab

ilitie

s3,

401,

444

3,70

5,50

3

3,

517,

214

4,25

1,26

0

3,

663,

479

4,13

8,81

0

6,

136,

523

8,19

6,28

4

8,

067,

053

6,13

2,93

5

Long

-term

liab

ilitie

s:C

ompe

nsat

ed sa

besc

es89

,685

10

9,22

1

184,

950

16

5,54

6

164,

539

17

2,92

3

166,

964

18

1,94

9

170,

157

15

1,31

8

Reb

atab

le A

rbitr

age

- 62

,312

64

,050

16

,184

-

- -

- -

- Po

st e

mpl

oym

ent b

enef

its-

- 82

,021

13

6,58

6

216,

637

30

7,70

1

453,

153

58

5,36

6

712,

286

83

8,05

3

Net

pen

sion

obl

igat

ion

- -

- 42

,893

10

2,43

4

162,

551

17

4,97

9

176,

427

17

7,59

3

1,12

5,03

2

Le

ases

pay

able

81,0

20

225,

945

56

6,82

9

2,19

9,56

5

2,

481,

906

2,25

7,18

2

2,

205,

147

2,56

3,88

9

2,

180,

162

1,96

6,28

5

B

onds

pay

able

76,8

04,3

39

79,9

67,6

02

85,2

16,9

81

84,8

75,0

11

83,9

89,8

48

84,3

56,7

01

114,

921,

349

119,

235,

130

114,

604,

856

109,

010,

953

Tot

al lo

ng-te

rm li

abili

ties

76,9

75,0

44

80,3

65,0

80

86,1

14,8

31

87,4

35,7

85

86,9

55,3

64

87,2

57,0

58

117,

921,

592

122,

742,

761

117,

845,

054

113,

091,

641

Tota

l lia

bilit

ies

80,3

76,4

88

84,0

70,5

83

89,6

32,0

45

91,6

87,0

45

90,6

18,8

43

91,3

95,8

68

124,

058,

115

130,

939,

045

125,

912,

107

119,

224,

576

Def

erre

d In

flow

s of R

esou

rces

Def

erre

d in

flow

from

pen

sion

s-

- -

- -

- -

- -

53,5

09

Tota

l def

erre

d in

flow

of r

esou

rces

- -

- -

- -

- -

- 53

,509

Net

pos

ition

Net

inve

stm

ent i

n ca

pita

l ass

ets

10,9

76,1

38$

521,

422

$

16

,321

,372

$

17

,206

,353

$

19

,807

,552

$

25

,092

,712

$

27

,202

,883

$

32

,321

,041

$

36

,964

,296

$

42

,243

,729

$

R

estri

cted

for:

Cap

ital p

roje

cts

- 14

,277

,499

-

- -

- -

- -

-

Deb

t Ser

vice

1,35

8,77

0

1,

625,

014

1,74

1,49

0

2,

124,

492

3,18

8,98

3

2,

167,

641

2,82

4,30

7

2,

866,

073

3,02

7,00

9

3,

008,

944

Unr

estri

cted

10,0

21,9

15

9,15

8,00

4

6,

317,

526

4,03

6,54

5

2,

415,

642

3,00

5,51

9

2,

498,

291

(304

,538

)

792,

648

85

4,12

8

Tot

al n

et p

ositi

on22

,356

,823

$

25

,581

,939

$

24

,380

,388

$

23

,367

,390

$

25

,412

,177

$

30

,265

,872

$

32

,525

,481

$

34

,882

,576

$

40

,783

,953

$

46

,106

,801

$

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

City

of L

ubbo

ck, T

XSt

orm

Wat

er F

und

Bal

ance

She

et

103

2006

2007

2008

2009

2010

2011

2012

2013

**20

1420

15**

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces (

net)

6,34

8,46

1$

6,51

9,65

8$

6,63

3,25

5$

8,10

8,04

0$

12,1

18,7

01$

16

,195

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$

19,0

43,6

11$

19

,285

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$

19,6

06,9

04$

23

,119

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$

Tot

al o

pera

ting

reve

nues

6,34

8,46

1

6,51

9,65

8

6,63

3,25

5

8,10

8,04

0

12,1

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16

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19,0

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19

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19,6

06,9

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23

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Ope

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pens

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Pers

onal

serv

ices

868,

480

1,08

0,63

7

1,59

4,51

1

1,85

4,66

2

1,76

9,86

9

1,75

0,01

3

1,97

4,27

1

2,03

0,56

1

1,94

5,27

2

1,77

1,99

7

Supp

lies

80,5

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91,3

37

130,

597

98,8

22

137,

422

159,

832

171,

827

190,

273

175,

821

177,

994

Mai

nten

ance

5,68

0

250,

922

254,

116

280,

169

256,

202

251,

890

276,

628

304,

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324,

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366,

445

Col

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expe

nse

504,

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- 62

9,30

2

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5,50

2

68

9,35

8

71

4,79

7

71

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7

77

9,10

8

82

2,44

6

O

ther

serv

ices

and

cha

rges

212,

115

548,

082

1,72

9,22

8

1,07

4,87

1

303,

903

760,

139

1,01

5,77

7

1,52

4,47

2

1,44

2,30

2

1,45

3,55

2

Dep

reci

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n an

d am

ortiz

atio

n38

4,51

4

86

2,71

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1,

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2,

466,

072

2,

842,

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3,

157,

348

3,

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2,

725,

484

2,

802,

674

3,

085,

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T

otal

ope

ratin

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056,

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2,

833,

693

5,

612,

473

6,

434,

794

5,

955,

797

6,

768,

580

7,

243,

158

7,

489,

625

7,

469,

922

7,

678,

318

Ope

ratin

g in

com

e (lo

ss)

4,29

2,36

8

3,68

5,96

5

1,02

0,78

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1,67

3,24

6

6,16

2,90

4

9,42

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11

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12,1

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15

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Non

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1,

314,

578

95

0,33

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11

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16

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21

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21

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D

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Pro

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9,40

6

1,56

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78,9

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23,9

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94,3

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(55,

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1,66

3

Mis

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0,35

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636

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17,0

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11,0

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9,78

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32,8

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T

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Cap

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Tota

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Tota

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Net

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1,52

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9,44

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9

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1,52

9,81

1

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457,

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3,40

3,19

2

4,

269,

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5,05

7,83

7

5,

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539

107

City

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genc

y Pr

esen

tatio

nA

irpo

rt C

FC F

und

Mod

el

Ado

pted

FY 2

016

FY 2

017

FY 2

018

FY 2

019

FY 2

020

FY 2

021

Rev

enue

sIn

tere

st-

815

1,

182

1,

170

1,93

6

1,

929

CFC

Rev

enue

605,

122

61

1,17

4

617,

285

62

3,45

8

62

9,69

3

63

5,99

0

To

tal F

undi

ng S

ourc

es60

5,12

2

611,

989

618,

468

624,

628

63

1,62

9

637,

918

Exp

endi

ture

sTr

ansf

er to

Airp

ort C

apita

l - C

FC P

ay-A

s-Y

ou-G

o-

- -

- -

- Tr

ansf

er -

CFC

Deb

t Ser

vice

Ann

ually

- -

638,

821

638,

821

63

8,82

1

638,

821

To

tal E

xpen

ditu

res

- -

638,

821

638,

821

63

8,82

1

638,

821

Tota

l Exp

endi

ture

s Ove

r/(U

nder

) Rev

enue

s60

5,12

261

1,98

9

(20,

354)

(1

4,19

3)(7

,193

)(9

03)

Net

Ass

et C

alcu

latio

nA

ppro

pria

ble

Net

Ass

ets

1,35

8,57

0

1,97

0,55

8

1,95

0,20

5

1,93

6,01

2

1,

928,

819

1,92

7,91

6

To

tal R

estri

cted

Net

Ass

ests

1,35

8,57

0

1,

970,

558

1,95

0,20

5

1,

936,

012

1,92

8,81

9

1,

927,

916

----

----

----

----

----

----

----

----

----

----

----

----

----

--Fo

reca

st--

----

----

----

----

----

----

----

----

----

----

----

----

----

--

108


Rating Agency PresentationAirport Appropriable Net Position Calculation

Airport PFC CFC TotalCurrent Assets

Total Current Assets 15,815,580$ 414,333 753,448 16,983,360 Less: Cash Funded Capital Projects (3,041,571) - - (3,041,571) Less: Inventories - - - -

Total Net Current Assets 12,774,008 414,333 753,448 13,941,789

Current LiabilitiesAccounts Payable 4,755,024 - - 4,755,024 Accrued Liabilities 105,529 - - 105,529 Accrued Interest Payable - - - - Post Closure Landfill Cost - - - - Restricted PFC Funds - - - - Customer Deposits - - - - Due to Other Funds - - - -

Total Current Liabilities 4,860,553 - - 4,860,553

Cashflow CalculationsCurrent Assets Less Current Liabilities 7,913,456 414,333 753,448 9,081,236

Pay-as-you-go Capital Projects - - - - Add: Restricted Cash Reserved for Debt Service 119,051 546,037 665,088

Total Available Cash at September 30, 2015 8,032,506$ 960,370 753,448 9,746,324

September 30, 2015Target Net Position Policy 15.00% 15.00% 15.00% 15.00%Target Net Position by Policy 1,362,311$ 258,286 87,831 1,708,429 Available for Reallocation 6,670,196 702,083 665,616 8,037,895 Percentage of Net Position Policy 589.6% 371.8% 857.8% 570.5%

FY 2015-16 BudgetOperating Revenues 9,940,907$ 1,793,862 605,122 12,339,891 Non-Operating Revenues 864,421 - - 864,421 Expenses (10,530,667) (1,224,421) - (11,755,087)

Revenue Over/(Under) Expenses 274,661 569,442 605,122 1,449,225

Total Available Cash at September 30, 2016 8,307,167$ 1,529,811 1,358,570 11,195,549

Estimated September 30, 2016Target Net Position Policy 15.00% 15.00% 15.00% 15.00%Target Net Position by Policy 1,491,136$ 269,079 90,768 1,850,984 Available for Reallocation 6,816,031 1,260,732 1,267,801 9,344,565 Percentage of Net Position Policy 557.1% 568.5% 1496.7% 604.8%

109

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Cas

h an

d ca

sh e

quiv

alen

ts59

5,22

3$

21,7

04$

28,2

54$

19,4

06$

6,68

6$

424,

937

$

1,

289,

163

$

1,

436,

374

$

1,

703,

630

$

1,

563,

164

$

In

vest

men

ts51

7,52

8

1,56

5,06

6

3,45

9,43

4

3,73

9,24

0

5,23

7,10

0

4,45

8,49

7

6,70

6,81

9

6,11

3,41

0

8,52

3,61

9

11,6

79,8

04

Acc

ount

s rec

eiva

ble,

(net

)38

2,62

5

327,

118

30

7,94

3

395,

582

44

6,86

4

419,

966

54

4,35

8

506,

655

41

2,50

6

486,

093

In

tere

st re

ceiv

able

- 69

,675

-

15,6

28

1,85

3

1,21

3

1,99

1

3,51

1

7,18

9

8,49

1

Due

from

oth

ers

- 1,

196,

533

28

8,83

7

202,

451

16

3,00

7

172,

658

25

5,40

4

154,

298

16

1,02

7

231,

773

D

ue fr

om o

ther

gov

ernm

ents

- -

- 38

4,33

1

455,

325

88

4,75

6

1,78

6,55

4

249,

987

11

0,54

1

3,01

4,03

5

Inve

ntor

ies

- -

- -

- -

- -

- -

Tot

al c

urre

nt a

sset

s1,

495,

376

3,

180,

096

4,

084,

468

4,

756,

638

6,

310,

835

6,

362,

027

10

,584

,289

8,

464,

235

10

,918

,512

16

,983

,360

Res

trict

ed A

sset

s:6,

096,

097

2,

589,

490

8,

833,

348

4,

836,

946

4,

041,

844

5,

181,

605

2,

273,

267

2,

502,

798

5,

187,

289

8,

782,

438

T

otal

rest

ricte

d as

sets

6,09

6,09

7

2,58

9,49

0

8,83

3,34

8

4,83

6,94

6

4,04

1,84

4

5,18

1,60

5

2,27

3,26

7

2,50

2,79

8

5,18

7,28

9

8,78

2,43

8

Cap

ital A

sset

s:La

nd3,

679,

064

3,

679,

064

3,

589,

941

3,

589,

941

3,

589,

941

3,

589,

941

3,

589,

941

3,

589,

941

3,

589,

941

3,

608,

781

C

onst

ruct

ion

in p

rogr

ess

20,0

92,7

79

3,47

3,11

0

13,1

10,4

67

9,88

4,47

8

9,50

6,18

2

26,2

65,7

49

47,0

48,6

01

1,91

3,10

6

4,65

4,10

8

14,1

19,6

27

Build

ings

36,2

21,7

96

36,0

27,4

89

36,8

87,4

89

39,1

68,5

19

39,1

68,5

19

39,1

98,2

74

39,4

36,9

30

39,4

36,9

30

38,7

42,4

01

39,4

57,7

00

Impr

ovem

ents

oth

er th

an b

uild

ings

76,7

02,7

84

97,2

07,0

71

95,6

08,8

31

98,8

72,7

58

103,

508,

555

10

3,54

9,36

3

103,

479,

227

15

2,00

4,89

1

148,

231,

523

14

9,85

2,50

2

Mac

hine

ry a

nd e

quip

men

t7,

939,

128

9,

293,

972

9,

906,

148

13

,297

,034

14

,219

,004

14

,247

,179

18

,398

,890

19

,391

,918

19

,414

,567

19

,500

,336

A

llow

ance

for d

epre

ciat

ion

(66,

188,

237)

(6

9,11

5,37

6)

(72,

759,

939)

(7

7,19

2,73

7)

(82,

301,

240)

(8

5,98

1,88

9)

(90,

830,

517)

(9

8,26

4,32

9)

(101

,693

,924

)

(1

09,5

22,1

39)

Net

pro

perty

, pla

nt a

nd e

quip

men

t78

,447

,314

80

,565

,330

86

,342

,937

87

,619

,993

87

,690

,961

10

0,86

8,61

7

121,

123,

072

11

8,07

2,45

7

112,

938,

616

11

7,01

6,80

7

Tota

l ass

ets

86,0

38,7

87

86,3

34,9

16

99,2

60,7

53

97,2

13,5

77

98,0

43,6

40

112,

412,

249

13

3,98

0,62

8

129,

039,

490

12

9,04

4,41

7

142,

782,

605

Def

ferre

d O

utflo

ws o

f Res

ourc

es

Def

erre

d ch

arge

on

refu

ndin

g-

- -

- -

- -

88,8

50

157,

509

16

5,08

4

Def

erre

d ou

tflow

s fro

m p

ensio

ns-

- -

- -

- -

- -

348,

308

Tota

l def

erre

d ou

tflow

s of r

esou

rces

- -

- -

- -

- 88

,850

15

7,50

9

513,

392

Airp

ort F

und

City

of L

ubbo

ck, T

X

For F

iscal

Yea

rs E

nded

Sep

tem

ber 3

0B

alan

ce S

heet

110

Liab

ilitie

s and

Net

Pos

ition

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

liab

ilitie

s:A

ccou

nts p

ayab

le1,

479,

102

1,

118,

951

2,

018,

475

63

4,92

4

699,

808

1,

691,

661

3,

376,

417

59

2,60

7

260,

445

4,

755,

024

A

ccru

ed li

abili

ties

647,

213

18

8,03

6

207,

606

15

9,07

9

153,

535

56

,863

57

,530

67

,755

85

,897

10

5,52

9

Acc

rued

inte

rest

pay

able

67,3

46

89,1

96

188,

339

79

,472

68

,382

10

9,36

4

79,1

15

60,7

05

96,1

15

123,

787

Le

ases

pay

able

390

40

3

11,6

82

11,9

22

28,0

71

30,4

08

38,6

06

36,1

32

37,0

68

34,1

50

Bond

s pay

able

417,

285

48

8,38

7

1,60

7,44

6

1,78

6,57

4

1,86

6,25

9

2,26

8,81

5

2,59

1,57

7

1,53

3,65

8

1,64

9,08

5

937,

842

T

otal

cur

rent

liab

ilitie

s2,

611,

336

1,

884,

973

4,

033,

548

2,

671,

971

2,

816,

055

4,

157,

111

6,

143,

245

2,

290,

857

2,

128,

610

5,

956,

332

Long

-term

liab

ilitie

s:C

ompe

nsat

ed a

bsen

ces

214,

211

22

8,83

9

249,

708

23

9,79

3

255,

759

23

3,63

3

231,

368

22

8,22

4

252,

066

26

3,21

2

Une

arne

d re

venu

e - o

ther

- -

- -

- 4,

019

-

5,70

2

546

-

Reb

atab

le a

rbitr

age

12,3

78

46,8

16

46,4

61

30,3

63

20,4

28

- -

- -

- Po

st e

mpl

oym

ent b

enef

its-

- 10

3,16

9

185,

957

32

6,84

7

442,

746

63

5,25

6

826,

738

1,

006,

175

1,

208,

303

N

et p

ensio

n ob

ligat

ion

- -

- 49

,844

12

4,94

0

206,

276

22

2,84

3

224,

689

22

6,14

3

1,77

0,45

3

Not

es a

nd le

ases

pay

able

1,24

7

845

48

,171

36

,250

17

2,07

7

182,

844

18

4,59

5

221,

624

18

4,55

6

150,

406

Bo

nds p

ayab

le6,

383,

006

6,

305,

270

14

,280

,023

12

,466

,370

10

,573

,031

13

,188

,443

11

,776

,773

10

,251

,636

11

,227

,710

16

,434

,276

T

otal

long

-term

liab

ilitie

s6,

610,

842

6,

581,

770

14

,727

,532

13

,008

,577

11

,473

,082

14

,257

,961

13

,050

,835

11

,758

,613

12

,897

,196

19

,826

,650

Tota

l lia

bilit

ies

9,22

2,17

8

8,46

6,74

3

18,7

61,0

80

15,6

80,5

48

14,2

89,1

37

18,4

15,0

72

19,1

94,0

80

14,0

49,4

70

15,0

25,8

06

25,7

82,9

82

Def

erre

d In

flow

s of R

esou

rces

Def

erre

d in

flow

from

pen

sions

- -

- -

- -

- -

- 84

,207

Tota

l def

erre

d in

flow

of r

esou

rces

- -

- -

- -

- -

- 84

,207

Net

pos

ition

Net

inve

stm

ent i

n ca

pita

l ass

ets

74,0

79,1

84$

73,7

70,4

25$

76,8

35,1

96$

75,5

85,6

77$

76,5

63,7

53$

87,6

83,7

47$

106,

697,

952

$

10

7,11

9,50

0$

102,

695,

127

$

10

6,48

2,90

6$

Res

trict

ed fo

r: C

apita

l pro

ject

s-

456,

912

-

- -

- -

-

-

-

P

asse

nger

faci

lity

char

ges

3,63

0,62

5

1,82

8,62

4

2,31

8,72

3

1,52

2,26

2

1,41

4,25

5

1,25

5,05

0

645,

223

59

3,89

9

1,30

9,62

4

875,

959

D

ebt S

ervi

ce17

,326

30

3,95

4

182,

573

1,

047,

886

1,

115,

360

1,

440,

915

1,

461,

614

90

7,65

6

1,02

2,73

5

665,

088

U

nres

trict

ed(9

10,5

26)

1,

508,

258

1,

163,

181

3,

377,

204

4,

661,

135

3,

617,

465

5,

981,

759

6,

457,

815

9,

148,

634

9,

404,

855

Tot

al n

et p

ositi

on76

,816

,609

$

77

,868

,173

$

80

,499

,673

$

81

,533

,029

$

83

,754

,503

$

93

,997

,177

$

11

4,78

6,54

8$

115,

078,

870

$

11

4,17

6,12

0$

117,

428,

808

$

For F

iscal

Yea

rs E

nded

Sep

tem

ber 3

0B

alan

ce S

heet

Airp

ort F

und

City

of L

ubbo

ck, T

X

111

2006

2007

2008

2009

2010

2011

2012

2013

**20

1420

15**

Ope

ratin

g re

venu

es:

Ope

ratin

g fe

es (n

et)

5,42

4,01

6$

6,27

6,41

6$

6,79

3,82

9$

6,92

6,64

3$

7,12

9,25

7$

7,48

3,75

0$

7,67

7,53

8$

7,78

0,68

0$

8,47

1,83

3$

9,08

2,07

2$

T

otal

ope

ratin

g re

venu

es5,

424,

016

6,

276,

416

6,

793,

829

6,

926,

643

7,

129,

257

7,

483,

750

7,

677,

538

7,

780,

680

8,

471,

833

9,

082,

072

Ope

ratin

g ex

pens

es:

Pers

onal

serv

ices

2,12

0,91

0

2,14

7,05

2

2,22

2,91

2

2,28

7,83

3

2,37

1,12

3

2,36

2,08

1

2,64

4,62

2

2,59

7,22

4

2,53

6,21

0

2,80

4,89

7

Su

pplie

s12

1,68

0

15

9,31

5

12

9,45

2

15

9,26

3

17

6,75

5

10

6,59

9

16

0,16

6

19

3,52

6

18

2,62

2

27

4,09

7

Mai

nten

ance

377,

813

473,

418

387,

059

526,

682

482,

173

736,

885

740,

698

525,

493

430,

762

505,

574

O

ther

serv

ices

and

cha

rges

1,99

1,66

0

1,79

2,45

3

1,89

1,19

1

1,91

5,69

5

1,83

6,74

0

2,18

9,43

2

2,33

2,85

9

2,53

9,37

1

2,00

1,62

2

3,64

0,83

7

D

epre

ciat

ion

and

amor

tizat

ion

3,28

1,31

7

3,73

4,08

5

4,20

5,46

1

4,45

1,04

8

5,32

2,65

2

5,28

5,95

6

5,36

7,78

2

7,81

5,10

4

7,79

2,90

9

7,84

9,73

6

T

otal

ope

ratin

g ex

pens

es7,

893,

380

8,

306,

323

8,

836,

075

9,

340,

521

10

,189

,443

10

,680

,953

11

,246

,127

13

,670

,718

12

,944

,125

15

,075

,141

Ope

ratin

g in

com

e (lo

ss)

(2,4

69,3

64)

(2

,029

,907

)

(2,0

42,2

46)

(2

,413

,878

)

(3,0

60,1

86)

(3

,197

,203

)

(3,5

68,5

89)

(5

,890

,038

)

(4,4

72,2

92)

(5

,993

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0

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2011

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Passenger enplanements

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114

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2013

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5332

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6040

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1741

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2014

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3432

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38,8

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39,5

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38,3

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2015

31,8

9231

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35,9

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2011

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116

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Aircraft Operations

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Gen

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Per

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Dec

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40

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60

,000

80

,000

10

0,0

00 2

012

20

13

20

14

Aircraft Operations

Ann

ual A

ircr

aft O

pera

tions

MA

FL

BB

AM

A

120

A

irlin

e20

1020

1120

1220

1320

1420

1420

15%

cha

nge

2014

2015

% c

hang

e

Sout

hwes

t 31

4,80

429

9,13

029

0,71

325

8,97

224

0,51

524

0,51

523

4,90

4-2

.3%

20,7

4720

,597

-0.7

%A

mer

ican

Eag

le12

1,99

011

2,39

311

6,66

213

4,47

314

1,91

814

1,91

814

8,42

04.

6%9,

572

11,2

1217

.1%

Uni

ted

55,3

5672

,566

74,1

4474

,934

79,2

2779

,227

77,0

180.

0%7,

611

6,25

2-1

7.9%

Oth

er33

,252

37,5

8910

,554

2,19

14,

077

4,07

72,

456

-39.

8%86

134

55.8

% T

otal

enp

lane

men

ts52

5,40

252

1,67

849

2,07

347

0,57

046

5,73

746

5,73

746

2,79

8-0

.6%

38,0

1638

,195

0.5%

Ann

ual p

erce

nt c

hang

e-0

.7%

-5.7

%-4

.4%

-1.0

%

CO

MPA

RIS

ON

Mid

land

Inte

rnat

iona

l T

otal

enp

lane

men

ts44

2,54

347

0,77

850

1,51

751

3,47

455

4,13

655

4,13

652

2,75

0-5

.7%

48,4

0342

,926

-11.

3% A

nnua

l per

cent

cha

nge

6.4%

6.5%

2.4%

7.9%

Am

arill

o In

tern

atio

nal

Tot

al e

npla

nem

ents

409,

028

410,

545

401,

200

380,

828

371,

681

371,

681

337,

116

-9.3

%30

,918

27,6

62-1

0.5%

Ann

ual p

erce

nt c

hang

e0.

4%-2

.3%

-5.1

%-2

.4%

For m

ore

info

rmat

ion,

con

tact

Lub

bock

Pre

ston

Sm

ith In

tern

atio

nal A

irpor

t, (8

06) 7

75-3

126.

City

of L

ubbo

ck, T

X

Lub

bock

Pre

ston

Sm

ith In

tern

atio

nal A

irpo

rtSu

mm

ary

of P

asse

nger

Enp

lane

men

tsT

hrou

gh D

ecem

ber

2015

YT

D (J

an-D

ec)

Mon

th o

f Dec

embe

r

121

Air

craf

t cat

egor

y20

1020

1120

1220

1320

1420

1420

15%

cha

nge

2014

2015

% c

hang

e

Air

carr

ier

10,9

929,

653

8,94

79,

617

9,68

49,

684

11,9

1523

.0%

930

973

4.6%

Air

taxi

20,6

6022

,820

22,9

2922

,068

21,1

9921

,199

18,3

63-1

3.4%

1,62

71,

464

-10.

0%

Gen

eral

avi

atio

n36

,317

32,2

9428

,655

34,4

0937

,796

37,7

9631

,073

-17.

8%3,

326

2,06

6-3

7.9%

Mili

tary

10,4

378,

104

7,38

813

,189

16,2

6316

,263

8,07

9-5

0.3%

627

513

-18.

2% T

otal

ope

ratio

ns78

,406

72,8

7167

,919

79,2

8384

,942

84,9

4269

,430

-18.

3%6,

510

5,01

6-2

2.9%

Ann

ual p

erce

nt c

hang

e-7

.1%

-6.8

%16

.7%

7.1%

CO

MPA

RIS

ON

Mid

land

Inte

rnat

iona

l T

otal

ope

ratio

ns70

,566

74,8

9668

,245

72,5

6476

,677

76,6

7770

,385

-8.2

%6,

330

5,30

2-1

6.2%

Ann

ual p

erce

nt c

hang

e6.

1%-8

.9%

6.3%

5.7%

Am

arill

o In

tern

atio

nal

Tot

al o

pera

tions

78,6

6870

,943

68,0

6759

,422

60,7

5360

,753

58,3

85-3

.9%

4,67

24,

406

-5.7

% A

nnua

l per

cent

cha

nge

-9.8

%-4

.1%

-12.

7%2.

2%

For m

ore

info

rmat

ion,

con

tact

Lub

bock

Pre

ston

Sm

ith In

tern

atio

nal A

irpor

t, (8

06) 7

75-3

126.

Thr

ough

Dec

embe

r 20

15

YT

D (J

an-D

ec)

Mon

th o

f Dec

embe

r

City

of L

ubbo

ck, T

X

Lub

bock

Pre

ston

Sm

ith In

tern

atio

nal A

irpo

rtSu

mm

ary

of A

ircr

aft O

pera

tions

122

Air

craf

t cat

egor

y20

1020

1120

1220

1320

1420

1420

15%

cha

nge

Air

carr

ier

10,9

929,

653

8,94

79,

617

9,68

49,

684

11,9

1523

.0%

Air

taxi

20,6

6022

,820

22,9

2922

,068

21,1

9921

,199

18,3

63-1

3.4%

Gen

eral

avi

atio

n36

,317

32,2

9428

,655

34,4

0937

,796

37,7

9631

,073

-17.

8%

Mili

tary

10,4

378,

104

7,38

813

,189

16,2

6316

,263

8,07

9-5

0.3%

Tot

al o

pera

tions

78,4

0672

,871

67,9

1979

,283

84,9

4284

,942

69,4

30-1

8.3%

Ann

ual p

erce

nt c

hang

e-7

.1%

-6.8

%16

.7%

7.1%

City

of L

ubbo

ck, T

X

Ann

ual A

ircr

aft O

pera

tions

Lub

bock

Pre

ston

Sm

ith In

tern

atio

nal A

irpo

rt

YT

D (J

an-D

ec)

0

10,0

00

20,0

00

30,0

00

40,0

00

50,0

00

60,0

00

70,0

00

80,0

00

90,0

00 2

01

02

01

12

01

22

01

32

01

4

Aircraft Operations

Ge

ne

ral av

iati

on

Air

ca

rrie

rA

ir t

axi

Mil

ita

ry

123


Rating Agency PresentationCemetery Appropriable Net Position Calculation

Current AssetsTotal Current Assets 264,806$

Less: Cash Funded Capital Projects (22,055) Less: Inventories - Less: Due From Others - Less: Prepaid Espenses -

Total Net Current Assets 242,751

Current LiabilitiesAccounts Payable 15,097 Accrued Liabilities 12,142 Customer Deposits - Due to other Funds -


Cashflow CalculationsCurrent Assets Less Current Liabilities 215,512 Add: Restricted Cash Reserved for Debt Service 21,384

Total Available Cash at September 30, 2015 236,896$

September 30, 2015Target Net Position Policy 8.00%Target Net Position by Policy 38,092

Available for Reallocation 198,804$ Percentage of Net Position Policy 621.9%

FY 2015-16 Budget:Operating Revenues 423,000$ Non-Operating Revenues 350,181 Less: Expenses (782,499)

Revenue Over/(Under) Expenditures (9,318)


Estimated September 30, 2016Target Net Position Policy 8.00%Target Net Position by Policy 33,840

Available for Appropriation at September 30, 2016 193,738$ Percentage of Net Position Policy 672.5%

124

Ass

ets

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Cas

h an

d ca

sh e

quiv

alen

ts1

$

30

$

-

$

31

2$

27,6

36$

50,5

57$

29,4

52$

33,2

31$

25,1

62$

Inve

stm

ents

44 3,

725

59

219,

952

26

2,43

0

263,

022

12

5,35

3

166,

259

18

8,01

0

Acc

ount

s rec

eiva

ble,

(net

)52

,465

49

,913

55

,850

46

,115

46

,555

29

,293

49

,580

63

,055

51

,534

In

tere

st re

ceiv

able

263

-

40 61

73 70

50 88

100

D

ue fr

om o

ther

s-

- 16

5

- -

- -

- -

Tot

al c

urre

nt a

sset

s52

,773

53

,668

56

,114

26

6,44

0

336,

694

34

2,94

2

204,

435

26

2,63

3

264,

806

Res

trict

ed A

sset

s:21

7,25

5

122,

247

73

,060

18

,274

18

,158

23

,453

18

,136

18

,744

21

,395

T

otal

rest

ricte

d as

sets

217,

255

12

2,24

7

73,0

60

18,2

74

18,1

58

23,4

53

18,1

36

18,7

44

21,3

95

Adv

ance

to o

ther

fund

s

Cap

ital A

sset

s:La

nd14

,097

14

,097

14

,097

14

,097

14

,097

14

,097

14

,097

14

,097

14

,097

C

onst

ruct

ion

in p

rogr

ess

653,

166

37

7,18

1

428,

091

95

,314

-

- 1,

492

1,

492

49

,320

Bu

ildin

gs45

,588

55

5,58

8

555,

588

81

9,12

2

846,

652

84

6,65

2

846,

652

84

6,65

2

846,

652

Im

prov

emen

ts o

ther

than

bui

ldin

gs22

,251

22

,251

-

22,2

51

77,8

58

77,8

58

77,8

58

77,8

58

77,8

58

Mac

hine

ry a

nd e

quip

men

t28

4,03

0

330,

059

33

7,34

9

461,

809

48

1,52

9

561,

989

62

2,18

2

619,

531

70

0,53

1

Allo

wan

ce fo

r dep

reci

atio

n(2

90,5

58)

(3

46,0

98)

(3

63,0

21)

(3

79,1

92)

(4

09,1

21)

(4

43,2

77)

(4

80,3

38)

(4

87,0

22)

(5

26,1

31)

N

et p

rope

rty, p

lant

and

equ

ipm

ent

728,

574

95

3,07

8

972,

104

1,

033,

401

1,

011,

015

1,

057,

319

1,

081,

943

1,

072,

608

1,

162,

327

Tota

l ass

ets

998,

602

1,

128,

993

1,

101,

278

1,

318,

115

1,

365,

867

1,

423,

714

1,

304,

514

1,

353,

985

1,

448,

528

Def

ferre

d O

utflo

ws o

f Res

ourc

es

Def

erre

d ch

arge

on

refu

ndin

g-

- -

- -

- 8,

193

29

,379

34

,864

D

efer

red

outfl

ows f

rom

pen

sions

- -

- -

- -

- -

46,6

18

Tota

l def

erre

d ou

tflow

s of r

esou

rces

- -

- -

- -

8,19

3

29,3

79

81,4

82

City

of L

ubbo

ck, T

XC

emet

ery

Fund

Bal

ance

She

etFo

r Fisc

al Y

ears

End

ed S

epte

mbe

r 30

125

Liab

ilitie

s and

Net

Pos

ition

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

liab

ilitie

s:A

ccou

nts p

ayab

le9,

765

11,1

22

7,

189

7,38

1

11

,316

15,1

76

5,

696

24,0

78

15

,097

Acc

rued

liab

ilitie

s13

,895

17,2

09

18

,715

17,9

37

7,

109

7,60

1

9,

523

6,85

4

12

,142

Acc

rued

inte

rest

pay

able

5,12

6

4,

056

3,93

5

3,

794

3,63

3

3,

513

3,56

7

4,

856

3,09

2

D

ue to

oth

er fu

nds

5,61

6

24

5,00

0

107,

100

-

-

-

-

-

-

U

near

ned

reve

nue

79,6

94

81

,621

3,22

0

3,

220

3,22

0

3,

220

3,22

0

3,

220

3,22

0

Le

ases

pay

able

-

-

-

-

-

7,19

4

12

,902

13,1

15

13

,468

Bond

s pay

able

21,9

12

22

,948

23,9

28

25

,037

26,3

09

27

,680

27,9

20

28

,334

33,7

48

T

otal

cur

rent

liab

ilitie

s13

6,00

8

381,

956

16

4,08

7

57,3

69

51

,587

64,3

84

62

,828

80,4

57

80

,767

Long

-term

liab

ilitie

s:C

ompe

nsat

ed a

bsen

ces

50,9

96

54

,575

55,7

75

58

,120

57,0

70

58

,483

57,8

26

14

,823

20,8

33

Po

st e

mpl

oym

ent b

enef

its-

23

,923

37,0

94

62

,710

82,0

27

11

1,97

3

143,

887

17

0,14

6

201,

588

N

et p

ensio

n ob

ligat

ion

-

-

9,04

1

22

,069

35,1

09

37

,829

38,1

04

38

,347

236,

960

R

ebat

able

arb

itrag

e3,

791

3,89

7

1,

618

-

-

-

-

-

-

Leas

es p

ayab

le-

-

-

-

-

73

,266

112,

009

98

,894

85,4

27

Bo

nds p

ayab

le66

3,58

9

640,

473

61

6,38

3

591,

184

56

4,71

3

536,

871

51

5,37

1

504,

154

47

4,92

7

Tot

al lo

ng-te

rm li

abili

ties

718,

376

72

2,86

8

719,

911

73

4,08

3

738,

919

81

8,42

2

867,

197

82

6,36

4

1,01

9,73

5

To

tal l

iabi

litie

s85

4,38

4

1,10

4,82

4

88

3,99

8

791,

452

79

0,50

6

882,

806

93

0,02

5

906,

821

1,

100,

502

Def

erre

d In

flow

s of R

esou

rces

Def

erre

d in

flow

from

pen

sions

-

-

-

-

-

-

-

-

11,2

70

Tota

l def

erre

d in

flow

of r

esou

rces

-

-

-

-

-

-

-

-

11,2

70

Net

pos

ition

Net

inve

stm

ent i

n ca

pita

l ass

ets

43,0

73$

39

6,00

3$

388,

487

$

41

8,56

7$

420,

663

$

41

7,59

9$

421,

934

$

42

8,11

1$

500,

534

$

R

estri

cted

for:

C

apita

l pro

ject

s20

0,48

8

-

-

-

-

-

-

-

-

D

ebt S

ervi

ce16

,767

15,8

85

16

,366

16,8

87

17

,488

18,1

62

18

,136

18,7

44

21

,384

Unr

estri

cted

(116

,110

)

(387

,719

)

(187

,573

)

91,2

09

13

7,21

0

105,

147

(5

7,38

8)

29,6

88

(1

03,6

80)

To

tal n

et p

ositi

on14

4,21

8$

24,1

69$

21

7,28

0$

526,

663

$

57

5,36

1$

540,

908

$

38

2,68

2$

476,

543

$

41

8,23

8$

Bal

ance

She

etFo

r Fisc

al Y

ears

End

ed S

epte

mbe

r 30

City

of L

ubbo

ck, T

XC

emet

ery

Fund

126

2007

2008

2009

2010

2011

2012

2013

**20

1420

15**

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces (

net)

287,

622

$

335,

884

$

462,

333

$

436,

534

$

438,

741

$

410,

604

$

434,

993

$

450,

267

$

476,

144

$

Tot

al o

pera

ting

reve

nues

287,

622

33

5,88

4

462,

333

43

6,53

4

438,

741

41

0,60

4

434,

993

45

0,26

7

476,

144

Ope

ratin

g ex

pens

es:

Pers

onal

serv

ices

366,

041

40

6,03

8

407,

392

42

1,65

8

400,

968

44

2,46

1

404,

678

36

7,09

1

419,

159

Su

pplie

s25

,359

58

,808

42

,018

44

,672

53

,701

56

,253

28

,521

35

,582

49

,023

M

aint

enan

ce23

,459

47

,504

34

,021

25

,378

42

,499

28

,005

28

,880

28

,877

38

,700

O

ther

serv

ices

and

cha

rges

179,

960

18

5,31

3

170,

051

14

8,70

2

153,

538

16

8,98

9

159,

266

16

9,13

8

157,

781

D

epre

ciat

ion

and

amor

tizat

ion

2,18

1

18,0

55

19,0

90

26,1

92

23,1

03

34,1

57

31,5

91

36,1

47

39,1

10

Tot

al o

pera

ting

expe

nses

597,

000

71

5,71

8

672,

572

66

6,60

2

673,

809

72

9,86

5

652,

936

63

6,83

5

703,

773

Ope

ratin

g in

com

e (lo

ss)

(309

,378

)

(379

,834

)

(210

,239

)

(230

,068

)

(235

,068

)

(319

,261

)

(217

,943

)

(186

,568

)

(227

,629

)

Non

-ope

ratin

g re

venu

es (e

xpen

ses)

:In

tere

st1,

238

5,

446

53

0

- 3,

004

4,

591

68

3

2,10

3

4,70

1

Dis

posi

tion

of P

rope

rties

1,24

7

- 3,

297

-

22,4

91

21,4

71

3,37

3

4,20

0

- In

tere

st e

xpen

se(3

9,71

7)

(18,

602)

(1

4,00

8)

(9,5

54)

(2

9,88

8)

(28,

606)

(2

6,76

6)

(24,

891)

(1

9,83

0)

Tot

al n

on-o

pera

ting

reve

nues

(exp

ense

s)(3

7,23

2)

(13,

156)

(1

0,18

1)

(9,5

54)

(4

,393

)

(2,5

44)

(2

2,71

0)

(18,

588)

(1

5,12

9)

Inc

ome

(loss

) bef

ore

oper

atin

g tra

nsfe

rs(3

46,6

10)

(3

92,9

90)

(2

20,4

20)

(2

39,6

22)

(2

39,4

61)

(3

21,8

05)

(2

40,6

53)

(2

05,1

56)

(2

42,7

58)

C

apita

l Con

tribu

tions

193,

331

8,

544

-

- -

- 3,

076

26

,812

-

Tran

sfer

s in

297,

497

26

4,39

7

413,

531

54

9,00

5

288,

159

28

7,35

2

80,2

34

272,

205

35

4,61

8

Tran

sfer

s (ou

t)-

- -

- -

- -

- -

Cha

nge

in n

et p

ositi

on14

4,21

8

(120

,049

)

193,

111

30

9,38

3

48,6

98

(34,

453)

(1

57,3

43)

93

,861

11

1,86

0

Tota

l net

pos

ition

- be

ginn

ing

of y

ear

- 14

4,21

8

24,1

69

217,

280

52

6,66

3

575,

361

54

0,02

5

382,

682

30

6,37

8

Tota

l net

pos

ition

- en

ding

144,

218

$

24,1

69$

21

7,28

0$

52

6,66

3$

57

5,36

1$

54

0,90

8$

38

2,68

2$

47

6,54

3$

41

8,23

8$

**N

et p

ositi

on -

beg

inni

ng o

f yea

r was

rest

ated

GA

SB 3

4 fo

rmat

of p

rese

ntin

g ne

t ass

ets

City

of L

ubbo

ck, T

XC

emet

ery

Fund

For

Fisc

al Y

ears

End

ed S

epte

mbe

r 30

Sta

tem

ent o

f Rev

enue

s, E

xpen

ses,

and

Cha

nges

in F

und

Net

Pos

ition

127

Fund

ing

Am

ount

Exp

Oct

ober

Nov

embe

rD

ecem

ber

Proj

ect t

oFu

nds

% F

unds

% o

f Bud

get

Orig

Dat

e of

Clo

sed

Proj

ect N

umbe

r/Nam

eTo

Dat

eA

s of 9

/30/

2015

2015

2015

2015

Dat

e To

tal

Rem

aini

ngR

emai

ning

Spen

tA

ppro

pria

tion

9226

2C

emet

ery

Perm

anen

t Im

prov

emen

ts71

,375

$

49,3

20

--

- 49

,320

22

,055

30

.90

69

.10

9/

8/20

11To

tal

71,3

75$

49

,320

-

--

49,3

20

22,0

55

30.9

0

69.1

0

Cem

eter

y C

apita

l Pro

ject

sA

s of D

ecem

ber

31, 2

015

City

of L

ubbo

ck, T

XFi

nanc

e D

epar

tmen

tR

atin

g A

genc

ies P

rese

ntat

ion

128


Rating Agency PresentationCivic Center Appropriable Net Position Calculation

Current AssetsTotal Current Assets 4,999,625$

Less: Cash Funded Capital Projects (3,590,706) Total Net Current Assets 1,408,919

Current LiabilitiesAccounts Payable 960,277 Accrued Liabilities 41,332 Customer Deposits 140,304 Due to other Funds -


Cashflow CalculationsCurrent Assets Less Current Liabilities 267,006 Add: Restricted Cash Reserved for Debt Service 178,342


September 30, 2015Target Net Position Policy 8.00%Target Net Position by Policy 55,874

Available for Reallocation 389,474$ Percentage of Net Position Policy 797.1%

FY 2015-16 Budget:Operating Revenues 614,900$ Non-Operating Revenues 2,918,971 Less: Expenses (3,561,762)

Revenue Over/(Under) Expenses (27,891)


Estimated September 30, 2016Target Net Position Policy 8.00%Target Net Position by Policy 49,192

Available for Appropriation at September 30, 2016 368,265$ Percentage of Net Position Policy 848.6%

129

City

of L

ubbo

ck, T

X H

ealth

Ben

efits

Fun

dSt

atem

ent o

f Rev

enue

s, Ex

pens

es, a

nd C

hang

es in

Net

Pos

ition

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces

16,8

27,2

89$

21

,419

,274

$

22,2

50,1

77$

22

,702

,270

$

21,9

85,2

30$

21

,553

,236

$

28,9

18,8

86$

29

,020

,459

$

29,1

66,7

38$

29

,647

,308

$

Tot

al o

pera

ting

reve

nues

16,8

27,2

89

21,4

19,2

74

22,2

50,1

77

22,7

02,2

70

21,9

85,2

30

21,5

53,2

36

28,9

18,8

86

29,0

20,4

59

29,1

66,7

38

29,6

47,3

08

Ope

ratin

g ex

pens

es:

Pers

onal

serv

ices

143,

532

15

1,01

2

168,

687

18

4,78

8

177,

652

19

3,21

1

214,

651

21

8,48

7

221,

241

23

0,82

4

Insu

ranc

e ex

pens

e19

,060

,956

17

,307

,683

19

,333

,090

21

,088

,133

23

,795

,792

27

,204

,210

26

,355

,546

27

,037

,884

29

,730

,263

30

,566

,300

Su

pplie

s9,

498

9,

835

5,

909

8,

158

6,

365

6,

658

6,

143

7,

791

7,

392

7,

415

M

aint

enan

ce7,

692

-

- -

- -

- -

- -

Oth

er se

rvic

es a

nd c

harg

es38

,317

14

7,83

2

107,

684

57

,750

12

8,36

1

123,

161

13

2,56

6

116,

503

46

6,03

9

412,

321

D

epre

ciat

ion

- -

- -

- -

- -

- -

Tot

al o

pera

ting

expe

nses

19,2

59,9

95

17,6

16,3

62

19,6

15,3

70

21,3

38,8

29

24,1

08,1

70

27,5

27,2

40

26,7

08,9

06

27,3

80,6

65

30,4

24,9

35

31,2

16,8

60

Ope

ratin

g in

com

e (lo

ss)

(2,4

32,7

06)

3,

802,

912

2,

634,

807

1,

363,

441

(2

,122

,940

)

(5,9

74,0

04)

2,

209,

980

1,

639,

794

(1

,258

,197

)

(1,5

69,5

52)

Non

-ope

ratin

g re

venu

es (e

xpen

ses)

:In

tere

st ea

rnin

gs18

2,94

8

233,

302

36

8,19

7

187,

637

18

,228

4,

488

10

,703

7,

071

36

,051

78

,186

D

ispos

ition

of p

rope

rties

- -

- -

- -

- -

- -

Misc

ella

neou

s-

- 12

3,17

2

185,

378

58

6,28

5

170,

205

4,

335,

464

33

5,58

2

239,

302

40

8,25

6

Tot

al n

on-o

pera

ting

reve

nues

(exp

ense

s)18

2,94

8

233,

302

49

1,36

9

373,

015

60

4,51

3

174,

693

4,

346,

167

34

2,65

3

275,

353

48

6,44

2

Inc

ome

(loss

) bef

ore

cont

ribut

ions

and

tran

sfer

s(2

,249

,758

)

4,03

6,21

4

3,12

6,17

6

1,73

6,45

6

(1,5

18,4

27)

(5

,799

,311

)

6,55

6,14

7

1,98

2,44

7

(982

,844

)

(1,0

83,1

10)

Con

tribu

tions

and

tran

sfer

s:Tr

ansf

ers i

n-

- -

- -

- -

3,00

0,00

0

- -

Tran

sfer

s out

- -

- -

- -

- -

- -

Cha

nge

in n

et p

ositi

on(2

,249

,758

)

4,03

6,21

4

3,12

6,17

6

1,73

6,45

6

(1,5

18,4

27)

(5

,799

,311

)

6,55

6,14

7

4,98

2,44

7

(982

,844

)

(1,0

83,1

10)

To

tal n

et p

ositi

on -

begi

nnin

g of

yea

r**

2,05

0,87

4

(198

,884

)

3,83

7,33

0

6,96

3,50

6

8,69

9,96

2

7,18

1,53

5

1,38

2,22

4

7,93

8,37

1

12,9

20,8

18

11,8

28,7

05

Tota

l net

pos

ition

- en

ding

(198

,884

)$

3,

837,

330

$

6,

963,

506

$

8,

699,

962

$

7,

181,

535

$

1,

382,

224

$

7,

938,

371

$

12

,920

,818

$

11,9

37,9

74$

10

,745

,595

$

** T

he c

umul

ativ

e ef

fect

of a

pply

ing

GA

SB S

tate

men

t No.

68,

"Acc

ount

ing

and

Fina

ncia

l Rep

ortin

g fo

r Pen

sion

s" re

sulte

d in

beg

inni

ng st

atem

ent o

f net

pos

ition

for F

Y 2

015

bein

g re

stat

ed.

130

Ass

ets

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Cas

h an

d ca

sh e

quiv

alen

ts2,

933

$

4,03

0$

1,

136

$

94,0

62$

57

9,42

4$

74

9,51

7$

73

7,97

8$

58

1,62

0$

In

vest

men

ts35

9,16

2

776,

423

84

9,63

3

893,

207

3,

014,

434

3,

190,

048

3,

692,

259

4,

345,

808

A

ccou

nts r

ecei

vabl

e, (n

et)

99,2

66

105,

107

12

4,71

9

87,3

40

100,

565

89

,756

95

,778

68

,921

In

tere

st R

ecei

vabl

e-

- 25

5

1,77

4

1,78

2

3,22

8

4,09

2

3,27

6

Due

from

oth

ers

- 21

,813

-

11,6

25

- -

- -

Tot

al c

urre

nt a

sset

s46

1,36

1

907,

373

97

5,74

3

1,08

8,00

8

3,69

6,20

5

4,03

2,54

9

4,53

0,10

7

4,99

9,62

5

Res

trict

ed A

sset

s:-

442,

680

6,

287,

301

5,

869,

715

5,

143,

340

4,

817,

188

2,

945,

975

1,

355,

220

T

otal

rest

ricte

d as

sets

- 44

2,68

0

6,28

7,30

1

5,86

9,71

5

5,14

3,34

0

4,81

7,18

8

2,94

5,97

5

1,35

5,22

0

Cap

ital A

sset

s:La

nd1,

238,

454

1,

238,

454

1,

238,

454

1,

238,

454

1,

238,

454

1,

238,

454

1,

238,

454

1,

238,

454

C

onst

ruct

ion

in p

rogr

ess

- 83

,507

44

8,44

0

1,55

3,96

6

2,16

8,85

4

2,20

1,73

4

267,

293

27

9,66

6

Bui

ldin

gs21

,317

,202

21

,885

,776

21

,860

,776

21

,860

,776

21

,860

,776

21

,908

,276

22

,398

,764

22

,279

,024

Im

prov

emen

ts o

ther

than

bui

ldin

gs2,

609,

599

2,

767,

894

2,

755,

901

2,

755,

901

3,

133,

671

3,

471,

808

5,

274,

449

6,

126,

962

M

achi

nery

and

equ

ipm

ent

5,24

6,61

7

5,29

3,73

2

5,28

1,66

0

5,24

8,17

1

6,46

6,82

2

6,80

0,31

8

6,77

0,68

1

7,22

3,58

5

Allo

wan

ce fo

r dep

reci

atio

n(1

8,81

3,39

2)

(20,

197,

348)

(2

1,31

1,39

1)

(22,

321,

967)

(2

2,85

9,33

1)

(23,

814,

867)

(2

3,35

9,71

8)

(24,

426,

165)

N

et p

rope

rty, p

lant

and

equ

ipm

ent

11,5

98,4

80

11,0

72,0

15

10,2

73,8

40

10,3

35,3

01

12,0

09,2

46

11,8

05,7

23

12,5

89,9

23

12,7

21,5

26

Tota

l ass

ets

12,0

59,8

41

12,4

22,0

68

17,5

36,8

84

17,2

93,0

24

20,8

48,7

91

20,6

55,4

60

20,0

66,0

05

19,0

76,3

71

Def

ferre

d O

utflo

ws o

f Res

ourc

es

Def

erre

d ou

tflow

s fro

m p

ensi

ons

- -

- -

- -

- 15

1,81

2

Tota

l def

erre

d ou

tflow

s of r

esou

rces

- -

- -

- -

- 15

1,81

2

City

of L

ubbo

ck, T

XC

ivic

Cen

ters

Fun

dB

alan

ce S

heet

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

131

Liab

ilitie

s and

Net

Pos

ition

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

liab

ilitie

s:A

ccou

nts p

ayab

le70

,703

32

,558

84

,331

24

9,02

7

78,3

08

249,

346

30

3,04

5

960,

277

A

ccru

ed li

abili

ties

59,9

90

65,4

70

70,7

80

26,7

93

25,6

19

32,3

82

42,5

48

41,3

32

Acc

rued

inte

rest

pay

able

136

4,

592

54

,960

36

,302

35

,473

34

,476

33

,383

32

,181

C

usto

mer

dep

osits

67,6

17

59,7

77

53,4

48

59,9

33

107,

261

93

,782

80

,441

14

0,30

4

Com

pens

ated

abs

ence

s11

1,57

4

119,

316

10

8,38

8

106,

008

10

3,34

5

110,

399

84

,086

10

6,86

2

Leas

es p

ayab

le-

- -

- -

2,25

0

6,99

7

7,00

6

Bon

ds p

ayab

le-

8,50

7

125,

941

24

1,20

6

248,

621

25

4,96

0

263,

454

27

3,16

1

Tot

al c

urre

nt li

abili

ties

310,

020

29

0,22

0

497,

848

71

9,26

9

598,

627

77

7,59

5

813,

954

1,

561,

123

Lo

ng-te

rm li

abili

ties:

Com

pens

ated

abs

ence

s11

9,17

7

137,

399

11

2,62

1

91,7

82

98,4

03

113,

740

69

,807

63

,476

Po

st e

mpl

oym

ent b

enef

its88

,857

13

7,77

7

224,

232

29

3,22

0

395,

892

51

8,98

7

632,

777

74

5,07

0

Net

pen

sion

obl

igat

ion

- 26

,614

62

,460

10

1,55

4

108,

395

10

9,20

1

109,

926

77

1,65

8

Leas

es p

ayab

le-

- -

- -

22,0

25

66,6

53

59,6

47

Bon

ds p

ayab

le-

492,

447

6,

336,

066

6,

093,

185

5,

842,

889

5,

622,

598

5,

355,

317

5,

078,

329

T

otal

long

-term

liab

ilitie

s20

8,03

4

794,

237

6,

735,

379

6,

579,

741

6,

445,

579

6,

386,

551

6,

234,

480

6,

718,

180

To

tal l

iabi

litie

s51

8,05

4

1,08

4,45

7

7,23

3,22

7

7,29

9,01

0

7,04

4,20

6

7,16

4,14

6

7,04

8,43

4

8,27

9,30

3

Def

erre

d In

flow

s of R

esou

rces

Def

erre

d in

flow

from

pen

sion

s-

- -

- -

- -

36,7

02

Tota

l def

erre

d in

flow

of r

esou

rces

- -

- -

- -

- 36

,702

Net

pos

ition

Net

inve

stm

ent i

n ca

pita

l ass

ets

11,5

98,4

80$

10

,996

,671

$

9,90

5,08

0$

9,

736,

779

$

10,9

12,4

31$

10

,537

,913

$

9,66

9,62

5$

8,

480,

261

$

Res

trict

ed fo

r:

Deb

t Ser

vice

- 17

,071

19

4,05

4

133,

846

14

8,64

5

183,

165

17

3,85

2

178,

342

U

nres

trict

ed(5

6,69

3)

323,

869

20

4,52

3

123,

389

2,

743,

509

2,

770,

236

3,

174,

094

2,

253,

575

T

otal

net

pos

ition

11,5

41,7

87$

11

,337

,611

$

10,3

03,6

57$

9,

994,

014

$

13,8

04,5

85$

13

,491

,314

$

13,0

17,5

71$

10

,912

,178

$

City

of L

ubbo

ck, T

XC

ivic

Cen

ters

Fun

dB

alan

ce S

heet

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

132

2008

2009

2010

2011

2012

2013

**20

1420

15**

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces (

net)

717,

494

$

693,

798

$

640,

228

$

693,

467

$

663,

415

$

701,

855

$

691,

871

$

698,

421

$

Tot

al o

pera

ting

reve

nues

717,

494

69

3,79

8

640,

228

69

3,46

7

663,

415

70

1,85

5

691,

871

69

8,42

1

Ope

ratin

g ex

pens

es:

Pers

onal

serv

ices

1,74

0,28

8

1,72

3,92

4

1,60

4,39

3

1,58

0,27

6

1,66

5,10

3

1,71

4,25

7

1,69

2,79

7

1,81

2,55

3

Supp

lies

70,7

01

79,0

18

84,0

82

78,3

63

71,4

74

99,0

36

105,

403

83

,817

M

aint

enan

ce37

1,87

9

318,

493

28

7,57

2

372,

385

30

6,38

8

241,

810

23

5,84

9

317,

513

O

ther

serv

ices

and

cha

rges

1,11

5,19

9

767,

460

82

9,32

6

738,

251

77

3,64

0

773,

088

1,

292,

530

1,

564,

569

D

epre

ciat

ion

and

amor

tizat

ion

813,

674

1,

383,

956

1,

163,

108

1,

044,

065

1,

075,

117

1,

107,

549

1,

119,

431

1,

294,

698

T

otal

ope

ratin

g ex

pens

es4,

111,

741

4,

272,

851

3,

968,

481

3,

813,

340

3,

891,

722

3,

935,

740

4,

446,

010

5,

073,

150

Ope

ratin

g in

com

e (lo

ss)

(3,3

94,2

47)

(3

,579

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)

(3,3

28,2

53)

(3

,119

,873

)

(3,2

28,3

07)

(3

,233

,885

)

(3,7

54,1

39)

(4

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)

Non

-ope

ratin

g re

venu

es (e

xpen

ses)

:In

tere

st37

9

13,5

04

8,60

0

8,08

0

10,9

21

2,34

8

9,67

0

24,8

87

Mis

cella

neou

s-

5,24

9

5,38

7

419

43

3,18

2

- 81

3

4,66

8

Inte

rest

exp

ense

- -

(14,

593)

(4

8,36

2)

(39,

328)

(6

6,36

3)

(17,

423)

(1

7,07

8)

Tot

al n

on-o

pera

ting

reve

nues

(exp

ense

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9

18,7

53

(606

)

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863)

40

4,77

5

(64,

015)

(6

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)

12,4

77

Inc

ome

(loss

) bef

ore

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atin

g tra

nsfe

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)

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60,3

00)

(3

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)

(3,1

59,7

36)

(2

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)

(3,2

97,9

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(3

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)

(4,3

62,2

52)

C

apita

l Con

tribu

tions

12,2

99,6

92

793,

966

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109,

900

12

1,79

0

130,

000

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Tran

sfer

s in

2,63

5,96

3

2,56

2,15

8

2,29

4,90

5

2,85

0,09

3

4,52

4,20

3

2,90

1,33

5

3,15

7,33

6

2,82

5,95

1

Tran

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s (ou

t)-

- -

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-

C

hang

e in

net

pos

ition

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41,7

87

(204

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)

(1,0

33,9

54)

(3

09,6

43)

3,

810,

571

(2

74,7

75)

(4

73,7

43)

(1

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)

Tota

l net

pos

ition

- be

ginn

ing

of y

ear

- 11

,541

,787

11

,337

,611

10

,303

,657

9,

994,

014

13

,766

,089

13

,491

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12

,448

,479

To

tal n

et p

ositi

on -

endi

ng11

,541

,787

$

11

,337

,611

$

10

,303

,657

$

9,

994,

014

$

13,8

04,5

85$

13,4

91,3

14$

13,0

17,5

71$

10,9

12,1

78$

**N

et p

ositi

on -

beg

inni

ng o

f yea

r was

rest

ated

City

of L

ubbo

ck, T

XC

ivic

Cen

ters

Fun

d S

tate

men

t of R

even

ues,

Exp

ense

s, an

d C

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es in

Fun

d N

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r Fi

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Sep

tem

ber

30

133

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ount

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2015

Dat

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91,1

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100.

00

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ter R

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ns9,

126,

853

5,41

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0

37

0,39

6

181,

703

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091

6,

392,

850

2,73

4,00

3

29

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0

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--

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2,00

0

100.

00

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10/2

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l9,

649,

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$

5,41

7,66

0

37

0,39

6

181,

703

423,

091

6,

392,

850

3,25

7,14

4

33

.75

66

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Art

s and

Ent

erta

inm

ent F

acili

ties C

apita

l Pro

ject

sA

s of D

ecem

ber

31, 2

015

Rat

ing

Age

ncie

s Pre

sent

atio

n

City

of L

ubbo

ck, T

XFi

nanc

e D

epar

tmen

t

134

City

of L

ubbo

ck, T

XFl

eet M

aint

enan

ce F

und

Stat

emen

t of N

et P

ositi

on

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Pool

ed c

ash

and

cash

equ

ival

ents

-$

3,86

4$

4,

347

$

4,37

3$

1,

346

$

75,8

31$

17

7,92

8$

227,

727

$

13

9,92

5$

101,

235

$

In

vest

men

ts-

27

8,66

2

532,

190

84

2,54

6

948,

634

72

0,08

7

925,

665

96

9,23

9

700,

074

75

6,41

9

Due

from

oth

er fu

nds

-

-

-

-

-

-

-

-

-

-

Due

from

oth

ers

-

-

-

524

-

-

-

-

-

-

In

tere

st re

ceiv

able

412

-

2,

082

2,09

1

24

3

-

342

68

8

541

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1

Inve

ntor

y, a

t cos

t42

1,91

7

343,

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40

4,10

4

196,

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26

2,43

8

210,

753

18

8,64

2

205,

773

24

1,21

4

221,

749

T

otal

cur

rent

ass

ets

422,

329

62

5,68

7

942,

723

1,

046,

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1,21

2,66

1

1,

006,

671

1,29

2,57

7

1,

403,

427

1,08

1,75

4

1,

079,

974

Res

trict

ed A

sset

s:R

estri

cted

inve

stm

ents

275,

431

54

5,52

4

681,

109

12

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12,9

99

Tot

al re

stric

ted

asse

ts-

-

-

-

-

27

5,43

1

545,

524

68

1,10

9

12,6

83

12

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Prop

erty

, pla

nt a

nd e

quip

men

t:La

ndB

uild

ings

1,46

9,76

5

1,

469,

765

1,46

9,76

5

1,

469,

765

1,46

9,76

5

1,

469,

765

1,46

9,76

5

1,

469,

765

1,46

9,76

5

1,

469,

765

Impr

ovem

ents

oth

er th

an b

uild

ings

-

-

-

-

-

-

10,6

50

10

,650

10,6

50

89

8,61

4

Mac

hine

ry a

nd e

quip

men

t52

8,17

8

542,

027

62

5,33

5

603,

642

71

4,45

1

1,16

7,90

8

1,

057,

858

1,26

5,53

9

1,

138,

328

1,29

6,11

3

C

onst

ruct

ion

in p

rogr

ess

-

-

-

-

-

-

-

34,4

37

88

5,52

0

-

A

llow

ance

for d

epre

ciat

ion

(1,1

20,0

86)

(1,1

79,9

34)

(1,3

05,9

62)

(1,2

87,8

96)

(1,3

05,3

39)

(1,5

37,9

97)

(1,4

63,1

95)

(1,6

95,3

18)

(1,6

31,6

89)

(1,8

37,4

08)

Net

pro

perty

, pla

nt a

nd e

quip

men

t87

7,85

7

831,

858

78

9,13

8

785,

511

87

8,87

7

1,09

9,67

6

1,

075,

078

1,08

5,07

3

1,

872,

574

1,82

7,08

4

Tota

l ass

ets

1,30

0,18

6

1,

457,

545

1,73

1,86

1

1,

831,

569

2,09

1,53

8

2,

381,

778

2,91

3,17

9

3,

169,

609

2,96

7,01

1

2,

920,

057

Def

erre

d O

utflo

ws o

f Res

ourc

esD

efer

red

outfl

ows f

rom

pen

sion

s-

-

-

-

-

-

-

-

-

134,

219

Tota

l def

erre

d ou

tflow

s of r

esou

rces

-

-

-

-

-

-

-

-

-

13

4,21

9

135

City

of L

ubbo

ck, T

XFl

eet M

aint

enan

ce F

und

Stat

emen

t of N

et P

ositi

on

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

Liab

ilitie

s, D

efer

red

Inflo

ws o

f Res

ourc

es20

0620

0720

0820

0920

1020

1120

1220

1320

1420

15an

d N

et P

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onC

urre

nt li

abili

ties:

Acc

ount

s and

vou

cher

s pay

able

318,

844

47

2,79

5

392,

051

39

4,04

8

389,

924

26

8,91

1

547,

472

90

3,37

2

385,

464

27

4,88

8

Due

to o

ther

fund

s38

,885

- -

- -

- -

- -

- A

ccru

ed li

abili

ties

27,3

60

35

,340

29,2

27

40

,058

41,9

00

12

,130

13,3

35

21

,783

23,7

80

26

,381

Acc

rued

inte

rest

pay

able

- 74

7

- -

- 3,

011

3,

775

2,

868

2,

869

2,

758

C

ompe

nsat

ed a

bsen

ces

64,9

40

60

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37,9

04

32

,518

31,2

52

21

,862

20,0

59

62

,137

53,5

24

57

,698

Leas

es p

ayab

le-

- -

- -

- 3,

841

7,

067

7,

164

7,

365

B

onds

pay

able

- -

- -

- 3,

930

13

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17,3

71

17

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18,6

19

T

otal

cur

rent

liab

ilitie

s45

0,02

9

569,

279

45

9,18

2

466,

624

46

3,07

6

309,

844

60

2,02

6

1,01

4,59

8

49

0,73

9

387,

709

Long

-term

liab

ilitie

s:A

dvan

ce fr

om o

ther

fund

s-

- -

- -

- -

- -

- A

ccru

ed in

sura

nce

clai

ms

- -

- -

- -

- -

- -

Com

pens

ated

abs

ence

s83

,626

73,2

57

40

,488

37,4

46

32

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18,9

28

19

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64,0

17

44

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34,2

73

Po

st e

mpl

oym

ent b

enef

its-

- 51

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83,2

49

13

4,48

2

173,

115

24

1,56

3

323,

627

38

9,27

4

456,

651

N

et p

ensi

on li

abili

ty-

- -

18,8

09

46

,070

75,2

34

79

,798

80,5

53

81

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682,

236

Le

ases

Pay

able

- -

- -

- -

39,1

24

67

,159

59,9

95

52

,630

Bon

ds p

ayab

le-

- -

- -

263,

868

51

4,11

5

498,

776

47

8,68

4

457,

911

T

otal

long

-term

liab

ilitie

s83

,626

73,2

57

91

,751

139,

504

21

3,02

5

531,

145

89

3,69

9

1,03

4,13

2

1,

053,

574

1,68

3,70

1

Tota

l lia

bilit

ies

533,

655

64

2,53

6

550,

933

60

6,12

8

676,

101

84

0,98

9

1,49

5,72

5

2,

048,

730

1,54

4,31

3

2,

071,

410

Def

erre

d In

flow

s of R

esou

rces

Def

erre

d in

flow

s fro

m p

ensi

ons

- -

- -

- -

- -

- 32

,449

Tota

l def

erre

d in

flow

s of r

esou

rces

- -

- -

- -

- -

- 32

,449

Net

Pos

ition

Inv

estm

ent i

n ca

pita

l ass

ets

877,

857

83

1,85

8

789,

138

78

5,51

1

878,

877

1,

099,

199

1,03

7,55

4

1,

014,

827

1,30

9,38

5

1,

291,

150

Res

trict

ed fo

r deb

t ser

vice

- -

- -

- 8,

111

12

,424

160,

982

12

,092

12,4

08

U

nres

trict

ed(1

11,3

26)

(1

6,84

9)

391,

790

43

9,93

0

536,

560

43

3,47

9

367,

476

(5

4,93

0)

101,

221

(3

53,1

41)

T

otal

net

pos

ition

766,

531

$

81

5,00

9$

1,18

0,92

8$

1,

225,

441

$

1,41

5,43

7$

1,

540,

789

$

1,41

7,45

4$

1,

120,

879

$

1,42

2,69

8$

95

0,41

7$

136

City

of L

ubbo

ck, T

XFl

eet M

aint

enan

ce F

und

Stat

emen

t of R

even

ues,

Expe

nses

, and

Cha

nges

in N

et P

ositi

on

For F

iscal

Yea

rs E

nded

Sep

tem

ber 3

0

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces

7,73

7,57

9$

7,95

9,45

8$

9,26

0,37

8$

7,97

1,74

6$

8,68

1,59

0$

9,08

8,61

4$

10,0

68,2

99$

10,6

35,8

60$

10,5

99,4

85$

11,1

99,0

91$

Adm

inist

rativ

e ch

arge

s-

- -

- -

- -

- -

- T

otal

ope

ratin

g re

venu

es7,

737,

579

7,

959,

458

9,

260,

378

7,

971,

746

8,

681,

590

9,

088,

614

10

,068

,299

10

,635

,860

10

,599

,485

11

,199

,091

Ope

ratin

g ex

pens

es:

Pers

onal

serv

ices

1,07

9,32

0

1,02

5,76

4

903,

954

92

8,39

1

938,

099

87

5,31

4

780,

845

1,

156,

766

1,

016,

568

1,

083,

577

Su

pplie

s36

,016

39

,460

33

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50

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f net

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g re

stat

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137

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ent o

f Net

Pos

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For F

isca

l Yea

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nded

Sep

tem

ber 3

0

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Pool

ed c

ash

and

cash

equ

ival

ents

359,

269

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Allo

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Tota

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243,

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Net

Pos

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pos

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1,94

0,48

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1,92

7,80

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1,61

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3$

1,45

5,63

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1,52

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8$

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9,22

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Prin

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p an

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Stat

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in N

et P

ositi

on

For F

iscal

Yea

rs E

nded

Sep

tem

ber 3

0

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces

3,98

2,94

4$

3,82

5,97

8$

3,92

8,90

9$

4,05

7,47

8$

3,86

3,79

9$

3,11

4,73

6$

4,29

9,10

2$

3,98

1,13

2$

3,75

2,80

1$

3,81

6,38

0$

Tot

al o

pera

ting

reve

nues

3,98

2,94

4

3,

825,

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3,92

8,90

9

4,

057,

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3,86

3,79

9

3,

114,

736

4,29

9,10

2

3,

981,

132

3,75

2,80

1

3,81

6,38

0

Ope

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serv

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262,

830

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7,65

2

294,

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Supp

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20,8

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3,28

2,13

8

3,

437,

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9,75

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3,

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2

3,

574,

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14

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O

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45,8

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19

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192,

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8

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4,46

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3

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D

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34,5

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3,91

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Ope

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107,

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Non

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Dis

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Junk

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Misc

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- -

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Inte

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- -

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Tot

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(exp

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(574

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(281

)

1,05

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213

1,

371

6,

463

Inc

ome

(loss

) bef

ore

cont

ribut

ions

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tran

sfer

s12

4,93

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(12,

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4,72

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70,9

70

70,3

54

87,3

54

49,3

56

Con

tribu

tions

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tran

sfer

s:C

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l con

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tions

- -

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- -

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- 8,

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Tr

ansf

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n-

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229,

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-

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C

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net

pos

ition

124,

938

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(120

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70,9

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57

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To

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7

1,

639,

884

1,61

1,27

4

1,

576,

553

1,45

5,63

8

1,

526,

608

1,82

6,14

4

1,77

1,52

7

Tota

l net

pos

ition

- en

ding

1,94

0,48

8$

1,92

7,80

7$

1,63

9,88

4$

1,61

1,27

4$

1,57

6,55

3$

1,45

5,63

8$

1,52

6,60

8$

1,82

6,14

4$

1,91

3,49

8$

1,82

9,22

1$

*G

ASB

34

form

at o

f pre

sent

ing

net a

sset

s

** T

he c

umul

ativ

e ef

fect

of a

pply

ing

GA

SB S

tate

men

t No.

68,

"Acc

ount

ing

and

Fina

ncia

l Rep

ortin

g fo

r Pen

sions

" res

ulte

d in

beg

inni

ng st

atem

ent o

f net

pos

ition

for F

Y 2

015

bein

g re

stat

ed.

City

of L

ubbo

ck, T

X

140

City

of L

ubbo

ck, T

XIn

form

atio

n Te

chno

logy

Stat

emen

t of N

et P

ositi

on

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Pool

ed c

ash

and

cash

equ

ival

ents

1,74

7,14

9$

66,0

19$

22,1

89$

13,8

37$

1,80

9$

111,

014

$

20

5,27

6$

288,

921

$

34

7,41

5$

251,

148

$

In

vest

men

ts1,

519,

092

4,

760,

592

2,

716,

890

2,

666,

231

1,

275,

038

1,

054,

177

1,

067,

940

1,

229,

685

1,

738,

191

1,

876,

557

In

tere

st re

ceiv

able

9,00

1

32,8

02

32,9

83

6,61

8

326

19

6

206

1,

600

4,

247

5,

107

D

ue fr

om o

ther

s18

4,36

8

118,

737

97

,391

62

,686

44

,274

17

,184

8,

122

10

1,64

7

6,22

4

92,7

72

Prep

aid

expe

nses

- -

68,7

27

94,4

30

- 19

,137

-

- -

- In

vent

ory,

at c

ost

119,

517

15

9,13

0

36,7

97

14,6

68

15,2

59

13,7

27

20,1

12

12,7

46

6,74

4

9,97

0

Tot

al c

urre

nt a

sset

s3,

579,

127

5,

137,

280

2,

974,

977

2,

858,

470

1,

336,

706

1,

215,

435

1,

301,

656

1,

634,

599

2,

102,

821

2,

235,

554

Res

trict

ed A

sset

s:R

estri

cted

inve

stm

ents

- -

- -

- -

- 1,

773,

644

39

0,19

6

539,

426

T

otal

rest

ricte

d as

sets

- -

- -

- -

- 1,

773,

644

39

0,19

6

539,

426

Prop

erty

, pla

nt a

nd e

quip

men

t:La

nd65

,343

65

,343

65

,343

65

,343

65

,343

65

,343

65

,343

65

,343

65

,343

65

,343

Bu

ildin

gs-

- 28

,436

28

,436

88

,436

88

,436

88

,436

60

,000

60

,000

60

,000

Im

prov

emen

ts o

ther

than

bui

ldin

gs64

9,86

8

649,

868

64

9,86

8

680,

935

92

0,68

5

842,

855

1,

013,

148

1,

234,

689

1,

417,

365

1,

643,

964

M

achi

nery

and

equ

ipm

ent

6,78

1,80

6

7,70

5,33

1

8,49

9,69

9

8,31

8,74

3

9,67

8,21

8

9,18

0,13

0

9,97

2,42

0

12,1

13,9

38

16,4

97,8

56

20,0

73,5

08

Con

stru

ctio

n in

pro

gres

s65

5,07

6

- 18

0,94

2

439,

685

-

- 62

,498

91

5,54

0

109,

273

17

,686

A

llow

ance

for d

epre

ciat

ion

(6,3

20,9

96)

(6

,574

,858

)

(7,2

19,5

78)

(7

,331

,515

)

(7,6

87,9

51)

(7

,454

,014

)

(8,7

22,6

75)

(9

,363

,957

)

(10,

503,

637)

(12,

017,

078)

Net

pro

perty

, pla

nt a

nd e

quip

men

t1,

831,

097

1,

845,

684

2,

204,

710

2,

201,

627

3,

064,

731

2,

722,

750

2,

479,

170

5,

025,

553

7,

646,

200

9,

843,

423

Tota

l ass

ets

5,41

0,22

4

6,98

2,96

4

5,17

9,68

7

5,06

0,09

7

4,40

1,43

7

3,93

8,18

5

3,78

0,82

6

8,43

3,79

6

10,1

39,2

17

12,6

18,4

03

Def

erre

d O

utflo

ws o

f Res

ourc

esD

efer

red

outfl

ows f

rom

pen

sions

- -

- -

- -

- -

- 47

7,45

2

Tota

l def

erre

d ou

tflow

s of r

esou

rces

- -

- -

- -

- -

- 47

7,45

2

141

City

of L

ubbo

ck, T

XIn

form

atio

n Te

chno

logy

Stat

emen

t of N

et P

ositi

on

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

Liab

ilitie

s, D

efer

red

Inflo

ws o

f Res

ourc

es20

0620

0720

0820

0920

1020

1120

1220

1320

1420

15an

d N

et P

ositi

onC

urre

nt li

abili

ties:

Acc

ount

s and

vou

cher

s pay

able

239,

351

39

8,75

2

227,

709

33

7,04

2

300,

979

14

2,06

7

330,

514

2,

357,

523

54

2,04

3

649,

816

D

ue to

oth

er fu

nds

- -

- -

- -

- -

- -

Acc

rued

liab

ilitie

s73

,147

99

,210

13

3,24

4

148,

908

14

9,18

5

69,2

18

80,6

54

93,4

82

93,0

50

106,

210

A

ccru

ed in

tere

st p

ayab

le-

- 3,

306

2,

515

1,

063

1,

034

2,

612

15

,857

57

,065

62

,447

C

ompe

nsat

ed a

bsen

ces

135,

228

13

9,85

0

150,

807

16

7,96

7

188,

603

20

7,57

1

257,

131

23

6,43

9

238,

586

24

3,54

8

Leas

es p

ayab

le15

4,62

7

408,

382

44

6,77

0

384,

545

14

7,31

6

154,

242

26

8,61

5

310,

568

66

7,00

3

741,

295

Bo

nds p

ayab

le-

- -

- -

- -

205,

000

45

0,00

0

695,

000

T

otal

cur

rent

liab

ilitie

s60

2,35

3

1,04

6,19

4

961,

836

1,

040,

977

78

7,14

6

574,

132

93

9,52

6

3,21

8,86

9

2,04

7,74

7

2,49

8,31

6

Long

-term

liab

ilitie

s:A

dvan

ce fr

om o

ther

fund

s-

- -

- -

- -

- -

- Le

ases

pay

able

327,

803

68

3,76

5

663,

355

28

2,23

9

248,

647

67

2,46

3

803,

093

73

7,30

6

1,22

6,68

7

1,17

9,10

4

Bond

s pay

able

- -

- -

- -

- 2,

613,

477

5,

631,

453

8,

252,

292

C

ompe

nsat

ed a

bsen

ces

174,

140

17

5,21

7

246,

388

30

1,67

7

351,

408

40

9,08

1

508,

549

48

2,25

9

472,

147

46

8,33

5

Post

em

ploy

men

t ben

efits

- -

116,

197

18

7,69

5

306,

170

41

1,03

1

642,

043

88

3,67

5

1,10

2,50

0

1,28

2,17

0

Net

pen

sion

liabi

lity

- -

- 70

,153

18

0,70

7

303,

974

33

2,64

8

335,

912

33

8,60

7

2,42

6,88

9

Tot

al lo

ng-te

rm li

abili

ties

501,

943

85

8,98

2

1,02

5,94

0

841,

764

1,

086,

932

1,

796,

549

2,

286,

333

5,

052,

629

8,

771,

394

13

,608

,790

Tota

l lia

bilit

ies

1,10

4,29

6

1,90

5,17

6

1,98

7,77

6

1,88

2,74

1

1,87

4,07

8

2,37

0,68

1

3,22

5,85

9

8,27

1,49

8

10,8

19,1

41

16,1

07,1

06

Def

erre

d In

flow

s of R

esou

rces

Def

erre

d in

flow

s fro

m p

ensio

ns-

- -

- -

- -

- -

115,

429

Tota

l def

erre

d in

flow

s of r

esou

rces

- -

- -

- -

- -

- 11

5,42

9

Net

Pos

ition

Inv

estm

ent i

n ca

pita

l ass

ets

1,50

3,29

4

1,16

1,91

9

1,09

4,58

5

1,53

4,84

3

2,66

8,76

8

1,89

6,04

5

1,40

7,46

2

2,93

2,84

6

(252

,287

)

(949

,869

)

Res

trict

ed fo

r deb

t ser

vice

- -

- -

- -

- -

313,

540

46

5,02

7

Unr

estri

cted

2,95

7,26

1

4,32

4,25

1

2,09

7,32

6

1,64

2,51

3

(141

,409

)

(328

,541

)

(852

,495

)

(2,7

70,5

48)

(7

41,1

77)

(2

,641

,838

)

Tot

al n

et p

ositi

on4,

460,

555

$

5,

486,

170

$

3,

191,

911

$

3,

177,

356

$

2,

527,

359

$

1,

567,

504

$

55

4,96

7$

162,

298

$

(6

79,9

24)

$

(3

,126

,680

)$

142

City

of L

ubbo

ck, T

XIn

form

atio

n Te

chno

logy

Stat

emen

t of R

even

ues,

Expe

nses

, and

Cha

nges

in N

et P

ositi

on

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces

6,42

3,92

1$

7,01

2,69

0$

7,15

1,47

8$

7,19

4,70

3$

6,97

9,20

4$

7,49

7,94

1$

8,23

0,22

9$

9,45

4,97

5$

10,2

17,3

17$

11,1

12,8

00$

Tot

al o

pera

ting

reve

nues

6,42

3,92

1

7,01

2,69

0

7,15

1,47

8

7,19

4,70

3

6,97

9,20

4

7,49

7,94

1

8,23

0,22

9

9,45

4,97

5

10,2

17,3

17

11,1

12,8

00

Ope

ratin

g ex

pens

es:

Pers

onal

serv

ices

2,52

2,79

1

2,63

1,14

1

3,16

6,51

1

3,10

9,67

3

3,27

6,21

0

3,43

3,74

2

4,34

1,35

4

4,24

5,23

0

4,23

5,94

1

3,58

5,20

0

Supp

lies

33,0

48

27,4

25

56,5

01

93,2

76

48,5

98

38,3

56

49,1

89

46,5

87

54,2

58

41,4

89

Mat

eria

ls16

6,81

9

11

2,41

1

141,

354

24

5,10

3

148,

819

22

3,55

6

86,5

92

61,7

57

56,2

68

51,5

60

Mai

nten

ance

1,91

5,51

7

1,71

0,51

0

2,05

6,96

8

2,13

4,52

1

2,37

3,17

0

2,16

4,79

2

2,33

3,16

0

2,76

3,58

1

3,01

7,76

6

3,59

8,70

5

Oth

er se

rvic

es a

nd c

harg

es2,

050,

547

1,

705,

550

1,

564,

661

1,

303,

637

1,

397,

248

1,

983,

750

1,

846,

015

2,

025,

696

2,

643,

978

2,

689,

508

D

epre

ciat

ion

236,

153

253,

863

26

5,77

9

323,

480

39

2,06

6

613,

394

60

6,66

8

677,

413

1,

194,

034

1,

613,

876

T

otal

ope

ratin

g ex

pens

es6,

924,

875

6,

440,

900

7,

251,

774

7,

209,

690

7,

636,

111

8,

457,

590

9,

262,

978

9,

820,

264

11

,202

,245

11

,580

,338

Ope

ratin

g in

com

e (lo

ss)

(500

,954

)

57

1,79

0

(100

,296

)

(1

4,98

7)

(656

,907

)

(9

59,6

49)

(1,0

32,7

49)

(3

65,2

89)

(984

,928

)

(4

67,5

38)

Non

-ope

ratin

g re

venu

es (e

xpen

ses)

:In

tere

st e

arni

ngs

138,

043

202,

549

21

9,33

8

33,6

92

5,15

4

673

1,

570

66

7

10,4

55

29,9

42

Disp

ositi

on o

f pro

perti

es70

,646

10

,709

23

,698

(5

,138

)

11,6

75

7,16

9

16,0

15

4,99

3

2,55

4

2,99

8

Junk

sale

s-

- 39

9

169

5,

812

2,

005

-

- -

- Fe

dera

l gra

nts

32,1

45

- -

- -

- -

- -

- M

iscel

lane

ous

- -

- -

- -

- -

4,80

0

3,84

8

Inte

rest

exp

ense

- (1

3,18

8)

(34,

107)

(2

8,29

1)

(15,

731)

(1

0,05

3)

(22,

246)

(3

3,04

0)

(156

,288

)

(2

19,0

81)

Tot

al n

on-o

pera

ting

reve

nues

(exp

ense

s)24

0,83

4

20

0,07

0

209,

328

43

2

6,91

0

(206

)

(4,6

61)

(2

7,38

0)

(138

,479

)

(1

82,2

93)

Inc

ome

(loss

) bef

ore

cont

ribut

ions

and

tran

sfer

s(2

60,1

20)

771,

860

10

9,03

2

(14,

555)

(6

49,9

97)

(959

,855

)

(1

,037

,410

)

(392

,669

)

(1

,123

,407

)

(649

,831

)

Con

tribu

tions

and

tran

sfer

s:C

apita

l Con

tribu

tions

- -

200,

289

-

- -

24,8

73

- 31

,185

-

Tran

sfer

s in

- -

- -

- -

- -

250,

000

-

Tran

sfer

s out

- -

(2,1

95,1

98)

-

- -

- -

- -

C

hang

e in

net

pos

ition

(260

,120

)

77

1,86

0

(1,8

85,8

77)

(1

4,55

5)

(649

,997

)

(9

59,8

55)

(1,0

12,5

37)

(3

92,6

69)

(842

,222

)

(6

49,8

31)

Tota

l net

pos

ition

- be

ginn

ing

of y

ear*

*4,

566,

048

4,

305,

928

5,

077,

788

3,

191,

911

3,

177,

356

2,

527,

359

1,

567,

504

55

4,96

7

162,

298

(2

,476

,849

)

Tota

l net

pos

ition

- en

ding

4,30

5,92

8$

5,07

7,78

8$

3,19

1,91

1$

3,17

7,35

6$

2,52

7,35

9$

1,56

7,50

4$

554,

967

$

16

2,29

8$

(679

,924

)$

(3,1

26,6

80)

$

** T

he c

umul

ativ

e ef

fect

of a

pply

ing

GA

SB S

tate

men

t No.

68,

"Acc

ount

ing

and

Fina

ncia

l Rep

ortin

g fo

r Pen

sions

" res

ulte

d in

beg

inni

ng st

atem

ent o

f net

pos

ition

for F

Y 2

015

bein

g re

stat

ed.

143

City

of L

ubbo

ck, T

XR

isk

Man

agem

ent F

und

Stat

emen

t of N

et P

ositi

on

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Cas

h an

d ca

sh e

quiv

alen

ts-

$

-

$

-

$

41

,471

$

11

,134

$

93

9,40

3$

1,70

7,28

2$

1,66

7,72

8$

1,64

2,88

8$

1,30

0,94

1$

Inve

stmen

ts-

- -

7,99

0,79

8

7,

849,

062

8,92

0,49

5

8,

882,

071

7,09

8,08

4

8,

219,

715

9,72

0,50

3

In

tere

st re

ceiv

able

- -

- 19

,113

2,

009

2,

219

2,

627

3,

720

5,

294

4,

845

D

ue fr

om o

ther

s-

- -

12,9

79

65,7

06

6,78

7

49,2

96

- -

- In

tere

st re

ceiv

able

- -

- -

- -

- -

- -

Prep

aid

expe

nses

- -

- -

- -

- -

- -

Tot

al c

urre

nt a

sset

s-

- -

8,06

4,36

1

7,

927,

911

9,86

8,90

4

10

,641

,276

8,

769,

532

9,86

7,89

7

11

,026

,289

Res

trict

ed A

sset

s:Po

oled

cas

h an

d ca

sh e

quiv

alen

ts-

- -

- -

- -

- -

- In

vestm

ents

8,65

0,34

0

7,

392,

515

7,75

9,46

1

-

- -

- -

- -

Acc

ount

s and

not

es re

ceiv

able

(net

)-

25,4

40

34,4

97

- -

- -

- -

- D

ue fr

om o

ther

fund

s-

- -

- -

- -

- -

- In

tere

st re

ceiv

able

20,8

24

65,8

58

45,1

21

- -

- -

- -

- T

otal

restr

icte

d as

sets

8,67

1,16

4

7,

483,

813

7,83

9,07

9

-

- -

- -

- -

Prop

erty

, pla

nt a

nd e

quip

men

t:La

nd-

- -

- -

- -

- -

- B

uild

ings

- -

- -

- -

- -

- -

Impr

ovem

ents

othe

r tha

n bu

ildin

gs-

- -

- -

- -

- -

- M

achi

nery

and

equ

ipm

ent

17,2

27

17,2

27

17,2

27

17,2

27

17,2

27

17,2

27

17,2

27

17,2

27

17,2

27

24,2

91

Con

struc

tion

in p

rogr

ess

- -

- -

- -

- -

- -

Allo

wan

ce fo

r dep

reci

atio

n(1

0,52

8)

(13,

399)

(1

6,27

0)

(17,

227)

(1

7,22

7)

(17,

227)

(1

7,22

7)

(17,

227)

(1

7,22

7)

(811

)

Net

pro

perty

, pla

nt a

nd e

quip

men

t6,

699

3,

828

95

7

- -

- -

- -

23,4

80

Tota

l ass

ets

8,67

7,86

3

7,

487,

641

7,84

0,03

6

8,

064,

361

7,92

7,91

1

9,

868,

904

10,6

41,2

76

8,76

9,53

2

9,

867,

897

11,0

49,7

69

Def

erre

d O

utflo

ws o

f Res

ourc

esD

efer

red

outfl

ows f

rom

pen

sions

- -

- -

- -

- -

- 81

,695

Tota

l def

erre

d ou

tflow

s of r

esou

rces

- -

- -

- -

- -

- 81

,695

144

City

of L

ubbo

ck, T

XR

isk

Man

agem

ent F

und

Stat

emen

t of N

et P

ositi

on

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

Liab

ilitie

s, D

efer

red

Inflo

ws o

f Res

ourc

es20

0620

0720

0820

0920

1020

1120

1220

1320

1420

15an

d N

et P

ositi

onC

urre

nt li

abili

ties:

Acc

ount

s and

vou

cher

s pay

able

4,70

0

90,2

81

28,5

07

13,4

11

6,82

0

4,33

5

69,2

60

588

62

,012

13

8,79

9

Due

to o

ther

fund

s-

- -

- -

- -

- -

- A

ccru

ed li

abili

ties

5,47

9

6,55

3

10,5

63

11,5

41

10,9

55

5,76

2

6,37

2

6,24

2

13,8

21

20,4

79

Acc

rued

inte

rest

paya

ble

- -

- -

- -

- -

- 1

Com

pens

ated

abs

ence

s4,

115

3,

626

5,

237

6,

892

6,

823

5,

490

5,

883

4,

107

5,

016

9,

650

Le

ases

pay

able

- -

- -

- -

- -

- 3,

341

A

ccru

ed in

sura

nce

clai

ms

- -

- 1,

685,

551

2,16

1,51

7

1,

998,

202

1,48

7,15

4

2,

380,

790

1,01

0,02

4

80

8,52

6

Tot

al c

urre

nt li

abili

ties

14,2

94

100,

460

44

,307

1,

717,

395

2,18

6,11

5

2,

013,

789

1,56

8,66

9

2,

391,

727

1,09

0,87

3

98

0,79

6

Liab

ilitie

s pay

able

from

restr

icte

d as

sets:

Self

insu

ranc

e - r

isk m

anag

emen

t: A

ccou

nts p

ayab

le-

- -

- -

- -

- -

- A

ccru

ed li

abili

ties

- -

- -

- -

- -

- -

Acc

rued

insu

ranc

e cl

aim

s2,

444,

632

2,10

8,27

0

1,

420,

757

- -

- -

- -

- T

otal

liab

ilitie

s (pa

yabl

e fr

om r

estri

cted

ass

ets)

2,44

4,63

2

2,

108,

270

1,42

0,75

7

-

- -

- -

- -

Long

-term

liab

ilitie

s:Le

ases

pay

able

- -

- -

- -

- -

- 20

,950

A

ccru

ed in

sura

nce

clai

ms

2,81

6,34

4

1,

150,

518

1,42

4,92

2

1,

685,

900

2,73

7,61

5

2,

413,

003

2,09

2,49

2

1,

421,

439

2,04

9,58

2

1,

332,

505

Com

pens

ated

abs

ence

s5,

298

4,

398

5,

594

7,

936

3,

972

4,

753

5,

602

4,

231

4,

164

5,

732

Po

st em

ploy

men

t ben

efits

- -

13,6

70

21,1

96

30,8

02

41,8

40

63,2

30

86,0

25

107,

908

13

4,85

8

Net

pen

sion

liabi

lity

- -

- 5,

681

13

,088

23

,642

25

,835

26

,090

26

,389

41

5,25

4

Tot

al lo

ng-te

rm li

abili

ties

2,82

1,64

2

1,

154,

916

1,44

4,18

6

1,

720,

713

2,78

5,47

7

2,

483,

238

2,18

7,15

9

1,

537,

785

2,18

8,04

3

1,

909,

299

Tota

l lia

bilit

ies

5,28

0,56

8

3,

363,

646

2,90

9,25

0

3,

438,

108

4,97

1,59

2

4,

497,

027

3,75

5,82

8

3,

929,

512

3,27

8,91

6

2,

890,

095

Def

erre

d In

flow

s of R

esou

rces

Def

erre

d in

flow

s fro

m p

ensio

ns-

- -

- -

- -

- -

19,7

51

Tota

l def

erre

d in

flow

s of r

esou

rces

- -

- -

- -

- -

- 19

,751

Net

Pos

ition

Inv

estm

ent i

n ca

pita

l ass

ets

6,69

9

3,82

8

957

-

- -

- -

- (8

11)

R

estri

cted

for i

nsur

ance

cla

ims

3,39

0,59

6

4,

120,

167

4,92

9,82

9

-

- -

- -

- -

Unr

estri

cted

- -

- 4,

626,

253

2,95

9,31

9

5,

371,

877

6,88

5,44

8

4,

840,

020

6,58

8,98

1

8,

222,

429

Tot

al n

et p

ositi

on3,

397,

295

$

4,

123,

995

$

4,

930,

786

$

4,

626,

253

$

2,

959,

319

$

5,

371,

877

$

6,

885,

448

$

4,

840,

020

$

6,

588,

981

$

8,

221,

618

$

145

City

of L

ubbo

ck, T

XR

isk

Man

agem

ent F

und

Stat

emen

t of R

even

ues,

Expe

nses

, and

Cha

nges

in N

et P

ositi

on

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces

4,48

8,55

1$

3,53

2,73

1$

5,35

4,71

6$

5,20

3,55

4$

5,38

6,19

0$

5,59

7,06

6$

6,07

1,55

8$

5,97

9,58

0$

5,50

9,23

4$

6,03

0,09

2$

Tot

al o

pera

ting

reve

nues

4,48

8,55

1

3,53

2,73

1

5,35

4,71

6

5,20

3,55

4

5,38

6,19

0

5,59

7,06

6

6,07

1,55

8

5,97

9,58

0

5,50

9,23

4

6,03

0,09

2

Ope

ratin

g ex

pens

es:

Pers

onal

serv

ices

190,

796

20

9,33

7

225,

959

25

4,67

9

214,

488

29

4,95

2

340,

114

34

1,84

0

480,

120

60

3,27

9

Insu

ranc

e ex

pens

e3,

235,

231

2,

907,

050

4,

443,

470

5,

682,

283

6,

798,

991

4,

144,

031

4,

118,

047

4,

401,

410

3,

142,

656

2,

588,

071

Su

pplie

s4,

602

3,

547

4,

948

4,

292

9,

284

5,

272

6,

102

7,

070

6,

274

6,

149

M

aint

enan

ce9,

937

42

0

3,68

4

1,20

9

1,38

7

1,38

7

1,10

2

3,22

3

1,37

2

3,69

1

Oth

er se

rvic

es a

nd c

harg

es10

3,57

9

169,

075

19

5,15

6

101,

993

10

8,97

1

135,

641

10

7,15

6

120,

389

13

2,50

9

225,

184

D

epre

ciat

ion

2,87

1

2,87

1

2,87

1

957

-

- -

- -

811

T

otal

ope

ratin

g ex

pens

es3,

547,

016

3,

292,

300

4,

876,

088

6,

045,

413

7,

133,

121

4,

581,

283

4,

572,

521

4,

873,

932

3,

762,

931

3,

427,

185

Ope

ratin

g in

com

e (lo

ss)

941,

535

24

0,43

1

478,

628

(8

41,8

59)

(1

,746

,931

)

1,

015,

783

1,

499,

037

1,

105,

648

1,

746,

303

2,

602,

907

Non

-ope

ratin

g re

venu

es (e

xpen

ses)

:In

tere

st e

arni

ngs

307,

302

42

3,09

4

319,

877

13

3,40

6

6,77

5

2,64

6

15,4

95

4,47

1

20,0

07

52,7

93

Dis

posi

tion

of p

rope

rties

- -

- -

- -

- -

- -

Junk

sale

s-

- -

- -

- -

- -

- M

isce

llane

ous

427,

286

63

,175

8,

286

40

3,92

0

73,2

22

1,43

4,60

6

(961

)

73,6

35

(17,

349)

31

5,95

0

Inte

rest

exp

ense

- -

- -

- -

- -

- (1

)

Tot

al n

on-o

pera

ting

reve

nues

(exp

ense

s)73

4,58

8

486,

269

32

8,16

3

537,

326

79

,997

1,

437,

252

14

,534

78

,106

2,

658

36

8,74

2

Inc

ome

(loss

) bef

ore

cont

ribut

ions

and

tran

sfer

s1,

676,

123

72

6,70

0

806,

791

(3

04,5

33)

(1

,666

,934

)

2,

453,

035

1,

513,

571

1,

183,

754

1,

748,

961

2,

971,

649

Con

tribu

tions

and

tran

sfer

s:Tr

ansf

ers i

n32

,915

-

- -

- -

- -

- -

Tran

sfer

s out

- -

- -

- (4

0,47

7)

- (3

,229

,182

)

-

(1,0

00,0

00)

Cha

nge

in n

et p

ositi

on1,

709,

038

72

6,70

0

806,

791

(3

04,5

33)

(1

,666

,934

)

2,

412,

558

1,

513,

571

(2

,045

,428

)

1,

748,

961

1,

971,

649

To

tal n

et p

ositi

on -

begi

nnin

g of

yea

r**

1,68

8,25

7

3,39

7,29

5

4,12

3,99

5

4,93

0,78

6

4,62

6,25

3

2,95

9,31

9

5,37

1,87

7

6,88

5,44

8

4,84

0,02

0

6,24

9,96

9

Tota

l net

pos

ition

- en

ding

3,39

7,29

5$

4,12

3,99

5$

4,93

0,78

6$

4,62

6,25

3$

2,95

9,31

9$

5,37

1,87

7$

6,88

5,44

8$

4,84

0,02

0$

6,58

8,98

1$

8,22

1,61

8$

** T

he c

umul

ativ

e ef

fect

of a

pply

ing

GA

SB S

tate

men

t No.

68,

"Acc

ount

ing

and

Fina

ncia

l Rep

ortin

g fo

r Pen

sion

s" re

sulte

d in

beg

inni

ng st

atem

ent o

f net

pos

ition

for F

Y 2

015

bein

g re

stat

ed.

146

City

of L

ubbo

ck, T

XH

ealth

Ben

efits

Fun

dSt

atem

ent o

f Net

Pos

ition

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Pool

ed c

ash

and

cash

equ

ival

ents

-$

-$

-$

56,1

62$

13,8

88$

362,

019

$

1,

682,

468

$

2,

872,

381

$

2,

385,

276

$

1,

582,

920

$

In

vestm

ents

- -

- 10

,821

,384

9,

790,

469

3,43

7,70

1

8,

752,

974

12,2

25,2

60

11,9

34,0

39

11,8

27,4

20

Inte

rest

rece

ivab

le-

- -

23,3

82

2,50

6

855

2,

589

6,

407

7,

687

5,

890

D

ue fr

om o

ther

s-

- -

70,5

63

166,

686

91

,515

77

,470

37

9,22

9

- -

Tot

al c

urre

nt a

sset

s-

- -

10,9

71,4

91

9,97

3,54

9

3,

892,

090

10,5

15,5

01

15,4

83,2

77

14,3

27,0

02

13,4

16,2

30

Res

trict

ed A

sset

s:Po

oled

cas

h an

d ca

sh e

quiv

alen

ts-

- -

- -

- -

- -

- In

vestm

ents

2,55

6,68

8

6,

675,

562

9,49

2,45

6

-

- -

- -

- -

Acc

ount

s and

not

es re

ceiv

able

(net

)11

5,16

8

92,7

23

123,

875

-

- -

- -

- -

Inte

rest

rece

ivab

le9,

526

41

,492

54

,696

-

- -

- -

- -

Tot

al re

stric

ted

asse

ts2,

681,

382

6,80

9,77

7

9,

671,

027

- -

- -

- -

-

Prop

erty

, pla

nt a

nd e

quip

men

t:La

nd-

- -

- -

- -

- -

- B

uild

ings

- -

- -

- -

- -

- -

Impr

ovem

ents

othe

r tha

n bu

ildin

gs-

- -

- -

- -

- -

- M

achi

nery

and

equ

ipm

ent

5,56

8

5,56

8

5,56

8

5,56

8

5,56

8

5,56

8

5,56

8

5,56

8

5,56

8

5,56

8

Con

struc

tion

in p

rogr

ess

- -

- -

- -

- -

- -

Allo

wan

ce fo

r dep

reci

atio

n(5

,568

)

(5,5

68)

(5

,568

)

(5,5

68)

(5

,568

)

(5,5

68)

(5

,568

)

(5,5

68)

(5

,568

)

(5,5

68)

N

et p

rope

rty, p

lant

and

equ

ipm

ent

- -

- -

- -

- -

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ets

2,68

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Liab

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2,

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- -

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5,82

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l lia

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509,

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8

2,

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6,96

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1,

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7,93

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11

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otal

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7,93

8,37

1$

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20,8

18$

11,9

37,9

74$

10,7

45,5

95$

148

City

of L

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t Poo

l Fun

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ent o

f Net

Pos

ition

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isca

l Yea

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Sep

tem

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0

Ass

ets

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Cur

rent

Ass

ets:

Pool

ed c

ash

and

cash

equ

ival

ents

5,32

8$

980

$

81

$

71

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3$

3,37

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9,17

7$

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stmen

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612

70

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9,

919

13

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9,

986

9,

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11

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8,

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16

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68

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otal

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rent

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00

13,7

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69

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Prop

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- -

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- 12

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- -

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- 12

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149

City

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Pos

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Liab

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Inflo

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- 58

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otal

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- 62

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- 60

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- -

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otal

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pos

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9,94

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1,92

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150

City

of L

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XIn

vest

men

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l Fun

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nd C

hang

es in

Net

Pos

ition

For F

isca

l Yea

rs E

nded

Sep

tem

ber 3

0

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Ope

ratin

g re

venu

es:

Cha

rges

for s

ervi

ces

-$

-$

-$

-$

-$

-$

-$

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-$

-$

Tot

al o

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ting

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nues

- -

- -

- -

- -

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Ope

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Pers

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- 41

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74

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75

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83

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2,82

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89,6

69

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3,67

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945

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0

988

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Mat

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163,

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25

9,03

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200,

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5,89

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24

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D

epre

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- -

- -

- -

- -

- -

Tot

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166,

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30

1,42

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238,

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0,18

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178,

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5,17

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8,83

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80

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874

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)

(301

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(238

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(290

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)

(178

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)

(115

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)

(108

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)

(138

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380)

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318

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2,98

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229,

502

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5,91

9

172,

480

11

7,22

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114,

404

13

7,71

6

98,5

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174,

648

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9,50

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117,

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As o

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5In

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apita

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City

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XFi

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atin

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genc

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rese

ntat

ion

152

North Overton Tax Increment Financing Reinvestment Zone

Annual Report

October 1, 2014 - September 30, 2015

153

City of Lubbock, TX North Overton

Tax Increment Financing Reinvestment Zone Annual Report

October 1, 2014 – September 30, 2015

Table of Contents

Introduction ..................................................................................................................................... 2

Financial Report .............................................................................................................................. 3

Appraised Values ............................................................................................................................ 3

Tax Increment Fund Revenue ......................................................................................................... 3

Performance Report ........................................................................................................................ 4

Board of Directors........................................................................................................................... 7

Maps ................................................................................................................................................ 8

154




Page 2

Introduction

The Lubbock City Council established the North Overton Tax Increment Financing Reinvestment Zone (Zone) by ordinance on March 14, 2002 to promote the development of the North Overton area. The Zone was initiated by a petition of owners of more than 50 percent of the appraised value of land in the Zone. The petition was received on October 31, 2001. The Zone was enacted after written notice and formal presentations to the governing body of each taxing unit that levies real taxes in the Zone, and after a properly advertised public hearing for public comments on the creation of the Zone.

According to the Texas Tax Increment Finance Act Section 311.016, the City must submit an annual report to the chief executive officer of each taxing unit that levies taxes on property within a zone. The report must be provided within 150 days of the end of the City’s fiscal year (September 30), and a copy must be sent to the Texas Comptroller of Public Accounts.

The Texas Tax Increment Finance Act specifies that the report must include:

Amount and source of revenue in the Tax Increment Fund established for the Zone, Amount and purpose of expenditures from the Fund, Amount of principal and interest due on outstanding bonded indebtedness, Tax increment base and current captured appraised value retained by the Zone, Captured appraised value shared by the City and other taxing units, Total amount of tax increments received, and Any additional information necessary to demonstrate compliance with the Tax Increment

Financing Plan adopted by the City.

Distribution of this annual report was approved by resolution of the City Council on January 14, 2016 upon the recommendation of the North Overton Tax Increment Financing Reinvestment Zone Board of Directors (Board) on December 17, 2015.

Glen C. Robertson, Mayor Jack Driskill, Chairman City of Lubbock North Overton TIF Board of Directors

155




Page 3

Financial Report

As set by the Lubbock Central Appraisal District (LCAD), the appraised value of the Zone increased $333,303,075 in value since the 2002 base year for each taxing jurisdiction. However, exemptions and abatements by the City and other taxing jurisdictions lower the net taxable amount available to the Tax Increment Fund as indicated on this page.

Appraised Values

Zone 2015 Appraised Value (before abatements and exemptions) $ 360,243,679

Less: 2002 Base Value 26,940,604

Current Captured Appraised Value Retained and Shared (before abatements)* $ 333,303,075

*The captured appraised value of taxable real property is the total appraised value of all real property taxable by thetaxing unit and located in a reinvestment zone for that year, less the tax increment base of the taxing unit. Texas Tax Increment Finance Act Section 311.012(b).

Tax Increment Fund Revenue

Taxing Jurisdiction 2015 Tax Rate

2002 Appraised

Value 2015 Net

Taxable Value

2015 Incremental Net Taxable

Value

Projected TIF Fund Revenue

(100% Collection)

City of Lubbock $0.538020 26,940,604 360,183,579 333,242,975 $ 1,792,914

Lubbock County 0.358158 26,940,604 360,194,179 333,253,575 1,193,574

Lubbock County Hospital District 0.115010 26,940,604 360,194,179 333,253,575 383,275

High Plains Underground Water Conservation District #1 0.008026 26,940,604 360,194,179 333,253,575 26,747

Total Fund Revenue $ 3,396,510

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Page 4

Performance Report

The Board and City Council are operating with the Fifth Amended Project and Finance Plans approved by the Board on December 10, 2009 and approved by the City Council on February 25, 2010. The Plans outline the financial strategy to accomplish the goal of the Zone. The Financing Plan provides projections of the amount of revenue that may be received in the future and the potential project financing that revenue may support. The Project Plan describes the types of projects anticipated to occur in the Zone.

Revenues For the year ended September 30, 2015, the Zone received $3,286,427 in property tax revenues for the 2014 tax year. Any variance in the actual amount from the amount reported in the FY 2013-14 annual report can be attributed to uncollected taxes and/or exemptions. The Zone received $608,820 in hotel motel tax revenue for debt service on the conference center, $103,008 in revenue from the one percent of net revenue from the Overton Hotel and $65,527 in incentive rent from the Overton Hotel. The Zone also earned $283 in interest.

Expenditures and Projects The City Council has issued eight series of Certificates of Obligation to fund public improvement projects for the Zone. They were issued as follows:

July 15, 2003 $ 3,795,000 August 15, 2005 9,290,000 April, 15, 2006 6,307,749 August 15, 2007 4,111,341 January 17, 2008 11,805,000 May 23, 2008 1,943,758 April 8, 2009 961,386 January 20, 2010 1,982,958

All expenditures are made as defined in the Texas Tax Increment Finance Act Section 311.002(1): “Project costs means the expenditures made or estimated to be made and monetary obligations incurred or estimated to be incurred by the municipality or county establishing a reinvestment zone that are listed in the project plan as costs of public works or public improvements in the zone, plus other costs incidental to those expenditures and obligations.”

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Page 5

FY 2014-15Expenditures

To DateCapital ProjectsNorth Overton Phase I -$ 909,192 The Centre, Phase I Project - 1,959,363 Dinerstein II, Phase I Project - 1,581,407 Tract #3 - 1,158,251 Tract #5 - 1,004,141 Tract #6 - 526,414 Tract #7 - 904,271 Dinerstein III - 1,022,627 Walmart - 2,521,914 Tract 11 - Condo I - 163,364 Tract 12 and Tract 13 - Condo II & III - 215,690 Single Family - 4,986,859 Pioneer Park Improvements - 8,268 North Overton TIF Public Facilities** - 22,652,438 Tract 1A - 84,411 ROW Acquire Glenna Goodacre Blvd. - 3,253,991 Tract 1B - 124,633 Tract 18 Commercial - 762,433 ULOFT - 86,049 Tract 1-B-3 - 68,867 Glenna Goodacre Blvd. East - 2,973,448 Tract 20 - Water Utilities North Overton TIF - 148,910 North Overton TIF Electric Utility - 322,374 Capstone - 2,312,571 Wastewater Utilities North Overton TIF - 125,574 North Overton TIF Street Reconstruction - 871,062 Landscaping in the Parkway - 89,281 North Overton TIF Public Improvements - 376,271

Total Capital Project Expenditures -$ 51,214,075

Current AdministrativeAdministrative Costs $ 20,907 286,077 Office Supplies 1,047 5,855 Professional Services 5,934 70,050 LCAD Collections Charges 1,638 14,689

North Overton Zoning - 14,194 North Overton TIF Creation - 45,312 North Overton TIF Board Administration - 8,154

Total Administrative Expenditures 29,527 444,331

Interest Expense 3,163 335,789 Bond Sale Charges - 260,812 Capital Outlay - 31,539

Total Expenditures $ 32,690 1,072,470

Transfer to Debt Service 3,186,321$ 27,346,587

** This project is funded with $11.4 million in bonds and $11 million in grants fromthe CH Foundation and the Moody Foundation

*Unaudited

North Overton TIF Expenditures

Administrative/Bond Issuance Expenditures

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FISCAL TOTALYEAR PRINCIPAL INTEREST REQUIREMENTS

2015-16 1,990,027.87 1,062,778.31 3,052,806.17 2016-17 2,073,424.54 980,694.57 3,054,119.12 2017-18 2,110,214.08 903,261.13 3,013,475.21 2018-19 2,222,807.80 827,973.32 3,050,781.12 2019-20 2,292,852.37 744,668.35 3,037,520.72 2020-21 2,343,462.56 656,036.83 2,999,499.39 2021-22 2,444,402.79 561,023.85 3,005,426.64 2022-23 2,545,673.08 458,205.83 3,003,878.91 2023-24 2,657,377.08 347,678.54 3,005,055.62 2024-25 2,544,562.05 235,750.39 2,780,312.44 2025-26 1,937,407.12 140,343.88 2,077,751.00 2026-27 1,545,506.78 69,002.47 1,614,509.25 2027-28 333,832.80 29,055.59 362,888.39 2028-29 207,592.55 14,179.78 221,772.34 2029-30 137,709.57 4,153.32 141,862.90 2030-31 - - - 2031-32 - - - 2032-33 - - - 2033-34 - - - 2034-35 - - -

29,389,291.38 8,244,421.91 37,633,713.29

NORTH OVERTON TIF ALLOCATIONSBUDGET

ALL CERTIFICATES & BOND ISSUES

DEBT SERVICE SCHEDULECITY OF LUBBOCK, TEXAS

This debt service schedule does not reflect the Build America Bonds subsidy from the IRS on the interest for the 2010 bonds issued.

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Page 7

Board of Directors

Because the Zone was initiated by a petition of the property owners, by statute the board must consist of nine members. The City Council appoints six board members, who must be at least 18 years of age and owners, or a representative of owners, of real property in the Zone or employees or agents of someone who owns property in the Zone. The State Senator and State Representative for the Zone, or their designees, are also board members, as is the representative of Lubbock County. The Board is responsible for administering the Zone throughout its life span and for recommending projects to be financed with the approval of the City Council.

City Council Representative: Jack Driskill, Chair

McWhorter Cobb & Johnson LLP Term: 03/01/14 – 03/01/16

City Council Representative: Kurt Metcalf

Overton Hotel Term: 03/01/15 – 03/01/17

City Council Representative: Patrick Murfee

Murfee and Sons, Inc. Term: 03/01/15 – 03/01/17

City Council Representative: Howard Thrash

H. G. Thrash Term: 03/01/15 – 03/01/17

State Senator:

Honorable Charles Perry, State Senator

State Representative: Honorable John Frullo, State Representative

Lubbock County Representative:

Bubba Sedeno, Lubbock County Commissioners Appointee

Lubbock County Hospital District Representative: David Allison, Chief Executive Officer; Designee: Jeff Dane

High Plains Underground Water District Representative:

Jason Coleman, High Plains Underground Water District Appointee

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Page 8

Overton Park Master Plan

Reinvestment Zone Boundary Map

161

Central Business District Tax Increment Financing Reinvestment Zone

Annual Report

October 1, 2014 - September 30, 2015

162

City of Lubbock, TX Central Business District



Table of Contents Introduction ..................................................................................................................................... 2

Financial Report .............................................................................................................................. 3

Appraised Values ............................................................................................................................ 3

Tax Increment Fund Revenue ......................................................................................................... 3

Performance Report ........................................................................................................................ 4

Board of Directors........................................................................................................................... 7

Maps ................................................................................................................................................ 8

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October 1, 2014– September 30, 2015

Page 2

Introduction

The Lubbock City Council established the Central Business District (CBD) Tax Increment Financing Reinvestment Zone (Zone) by ordinance on December 3, 2001 in order to promote the development of the CBD. The Zone was created after written notice and formal presentations to the governing body of each taxing unit that levies real taxes in the Zone, and after a properly advertised public hearing regarding the creation of the zone.

According to the Texas Tax Increment Finance Act Section 311.016, the City must submit an annual report to the chief executive officer of each taxing unit that levies taxes on property within a zone. The report must be provided within 150 days of the end of the City’s fiscal year (September 30), and a copy must be submitted to the Texas Comptroller of Public Accounts.

The Texas Tax Increment Finance Act specifies that the report must include:

Amount and source of revenue in the Tax Increment Fund established for the Zone, Amount and purpose of expenditures from the Fund, Amount of principal and interest due on outstanding bonded indebtedness, Tax increment base and current captured appraised value retained by the Zone, Captured appraised value shared by the City and other taxing units, Total amount of tax increments received, and Any additional information necessary to demonstrate compliance with the Tax Increment

Financing Plan adopted by the City.

Distribution of this annual report was approved by resolution of the City Council on January 14, 2016 upon the recommendation of the Central Business District Tax Increment Financing Reinvestment Zone Board of Directors (Board) on December 2, 2015.

Glen C. Robertson, Mayor Robert Taylor, Chairman City of Lubbock Central Business District TIF Board of Directors

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Page 3

Financial Report As set by the Lubbock Central Appraisal District (LCAD), the appraised value of the Zone increased $97,027,005 in value since the 2001 base year for each taxing jurisdiction. However, exemptions and abatements by the City and other taxing jurisdictions lower the net taxable amount available to the Tax Increment Fund as indicated on this page.

Appraised Values

Zone 2015 Appraised Value (before abatements and exemptions) $202,885,256

Less: 2001 Base Value 105,858,251

Current Captured Appraised Value Retained and Shared (before abatements)* $ 97,027,005

*The captured appraised value of taxable real property is the total appraised value of all real property taxable by the taxing unit and located in a reinvestment zone for that year, less the tax increment base of the taxing unit. Texas Tax Increment Finance Act Section 311.012(b).

Tax Increment Fund Revenue

Taxing Jurisdiction/ Tax Rate

2015 Tax Rate

2001 Appraised

Value 2015 Net

Taxable Value

2015 Net Tax Increment

Value

Projected TIF Fund Revenue

(100% Collections)

City of Lubbock $0.538020 105,858,251 202,359,028 96,500,777 $ 519,193

Lubbock County

0.358158 105,858,251 202,443,828 96,585,577 345,929

Lubbock County Hospital District

0.115010 105,858,251 202,443,828 96,585,577 111,083

High Plains Underground Water Conservation District #1

0.008026 105,858,251 202,443,828 96,585,577 7,752

Total Fund Revenue $ 983,957

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Page 4

Performance Report

The Board and the City Council are operating with the Fourth Amended Project and Finance Plans approved by the Board on August 25, 2009 and approved by the City Council on September 24, 2009. The Plans outline the financial strategy to accomplish the goal of the Zone. The Financing Plan provides projections of the amount of revenue that may be received in the future. The Project Plan describes the types of projects anticipated to occur in the district.

Revenues

In FY 2014-15, the Zone received $794,410 in revenues for value earned in 2014, and $6,751 in interest earned. Any variance in the actual amount from the amount reported in the FY 2013-14 Annual Report can be attributed to uncollected taxes and/or exemptions. The City Council approved the transfer of the 25 percent of Oil and Gas Revenue that is deposited into the North and East Lubbock Neighborhood and Infrastructure Fund for Downtown Redevelopment and it will continue to be transferred to the CBD TIF each year. In 2014, the City Council approved the transfer of $181,132 from the North and East Lubbock Neighborhood and Infrastructure Fund to the CBD TIF for downtown redevelopment.

Expenditures and Projects

The City Council has issued four series of Certificates of Obligation to fund public improvement projects for the Zone. The principal amount of Certificates of Obligation is as follows:

February 4, 2010 $ 247,564 March 15, 2011 1,404,380 May 1, 2014 2,165,000 April 28, 2015 2,690,000

All expenditures are as defined in the Texas Tax Increment Finance Act Section 311.002(1): Project costs means the expenditures made or estimated to be made and monetary obligations incurred or estimated to be incurred by the municipality or county establishing a reinvestment zone that are listed in the project plan as costs of public works or public improvements in the zone, plus other costs incidental to those expenditures and obligations.

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Page 5

FY 2014-15Expenditures

To-DateCapital ProjectsPublic Utility Engineering and Coordination -$ 222,148 Underground Utilities 1,532,512 1,784,943 EDA Grant - 2,245,614 Glenna Goodacre Boulevard Extension 13,025 27,364

Total Capital Project Expenditures 1,545,538 4,280,070

AdministrativeAdministrative Costs 31,372 264,269 Office Supplies 1,628 6,749 Professional Services 4,172 45,515 LCAD Collections Charges 2,085 21,213

Subtotal Adminstrative Expenses 39,257 337,746

Special ProjectsDowntown Redevelopment Plan - 100,000 Schrader & Cline - Project and Finance Plan - 75,547 Civic Lubbock Guitar Project - 8,500 Fiber Optic Line Relocation - 25,254 SGS Engineering - 8,396 McDougal Master Development Agreement 200,121 2,161,669 ROW Acquisition - GGB & Avenue Q - 342,619 Civic Center Hotel Feasibility Study 44,061 44,061 Misc. Projects - 37,631 Transfer to Capital Project Fund - 800,000

Subtotal Special Projects 244,182 3,603,676

Bond Sale Charges 23,718 59,727 Capital Outlay - 58,101

Total Expenditures 307,158 4,059,249

Transfer to Debt Service 300,691$ 712,915

Central Business District TIF Expenditures

Administrative/Bond Issuance Expenditures

* Unaudited

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Page 6

FISCAL TOTALYEAR PRINCIPAL INTEREST REQUIREMENTS

2015-16 173,573.02 328,861.39 502,434.40 2016-17 221,536.99 285,089.87 506,626.86 2017-18 234,569.32 274,340.21 508,909.54 2018-19 247,553.82 262,649.91 510,203.73 2019-20 265,411.16 250,488.71 515,899.87 2020-21 273,755.21 237,348.36 511,103.57 2021-22 287,517.62 223,323.81 510,841.43 2022-23 301,542.53 208,581.65 510,124.18 2023-24 315,751.99 193,109.46 508,861.45 2024-25 330,243.09 176,861.87 507,104.96 2025-26 349,947.45 160,381.03 510,328.49 2026-27 364,904.74 143,027.64 507,932.38 2027-28 385,124.52 124,113.54 509,238.06 2028-29 400,528.87 104,302.28 504,831.15 2029-30 426,264.07 84,280.71 510,544.78 2030-31 429,180.23 64,504.51 493,684.74 2031-32 335,000.00 47,175.00 382,175.00 2032-33 345,000.00 32,000.00 377,000.00 2033-34 365,000.00 16,150.00 381,150.00 2034-35 200,000.00 4,000.00 204,000.00

6,252,404.65 3,220,589.94 9,472,994.59

CENTRAL BUSINESS DISTRICT TIFBUDGET

ALL CERTIFICATES & BOND ISSUES

DEBT SERVICE SCHEDULECITY OF LUBBOCK, TEXAS

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Page 7

Board of Directors

The Zone consists of one representative from each of the jurisdictions that levy taxes within the zone and representatives appointed by the municipality. In establishing the Board, the City Council specified nine members with five members appointed by the City Council. City Council appointed Board representatives must be qualified voters of the municipality or at least 18 years of age. The Board is responsible for administering the Zone throughout its life span and for recommending projects to be financed with the approval of the City Council.

Council Appointee: Robert Taylor, Chair United Supermarkets – Corporate Office

Term: 1/01/14 – 1/01/16

Council Appointee: Currently Vacant

Term: TBD

Council Appointee: Vacant

Term: TBD

Council Appointee: Dan Pope Benchmark Business Solutions

Term: 1/01/14 – 1/01/16

Council Appointee: Henry Patel Prem Industries LLC

Term: 1/24/14 – 1/01/16

Lubbock Independent School District Appointee: Berhl Robertson, Superintendent

High Plains Underground Water Conservation District Appointee: Jason Coleman, Manager

Lubbock County Hospital District Appointee and Designee: David Allison, Chief Executive Officer; Designee: Jeff Dane

Lubbock County Commissioners Court Appointee: Honorable Tom Head, County Judge

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Page 8

CBD TIF Preferred Plan

Reinvestment Zone Boundary Map

170