Investment & Finance Committee Meeting Agenda

Investment & Finance Committee Meeting Agenda
Friday, January 13, 2012
Via Conference Call
9:00 a.m.
Members of the Public may attend the meeting at:
TexAmericas Center
Board Room
107 Chapel Lane
New Boston, TX 75570
AGENDA
1. Approve Minutes From November 17, 2011 Meeting.
2. Approve FY 11 Audit Report & Annual Financials
3. Hear HLC Presentation on Pledged Securities Report
4. Approve 1 st Quarter FY12 Investment Report
5. Approve 1 st Quarter FY12 Financials
6. Hear Staff Presentation on Guaranty Bond Bank Transition
7. Hear Staff Presentation on Revised OEA Grant
8. Hear Staff Update on Army Contract Renegotiation
9. Hear Staff Presentation Request for Lease Abatement from Texarkana College for 10 James
Carlow Drive

INVESTMENT & FINANCE COMMITTEE MINUTES
November 17, 2011
9:00 A.M.
The TexAmericas Center Investment & Finance Committee met at TexAmericas Center 107
Chapel Lane New Boston, TX 75570 on Thursday, November 17, 2011.
Committee Members, Staff and Others in attendance were:
Denis Washington Wayne Cranfill Boyd Sartin Bill Cork
Scott Norton Faith Phillips Cyd Collins Jamie Shipley
Deana Landreth Bill Cox
HLC Accounting
Committee Members, Staff and Others in attendance via conference call were:
Don Morriss Mike Carter Mike Ashford
Committee Members, Staff and Others absent:
Pat McCoy Dick Long Tom Ross Bill Koch
Valley View Investment Valley View Investment Valley View Investment
1. Bill Cork called the meeting to order at 9:06 a.m.
2. Consider and take action to review and approve Board Minutes from September 9, 2011
meeting. A motion was made by Don Morriss and seconded by Mike Ashford. Motion
carried unanimously by voice vote.
3. Faith Phillips presented a list of FY12 meetings and main topics.
4. Bill Cork presented an update on the transition from Wells Fargo to Guaranty Bond
Bank.
5. Faith Phillips presented the annual investment report. A motion to approve the annual
investment report was made by Wayne Cranfill and seconded by Denis Washington.
Motion carried unanimously by voice vote.
6. Bill Cox of Holliday, Lemons, & Cox presented their findings regarding collateralization of
our bank and investment accounts.
7. Bill Cox of Holliday, Lemons, & Cox presented the 4th Quarter financials. A motion to
approve the 4 th Quarter financials was made by Don Morriss and seconded by Mike
Ashford. Motion carried unanimously by voice vote.
8. Scott Norton, Faith Phillips and Bill Cork presented the preliminary results of the annual
Army Settlement.
9. Scott Norton, Faith Phillips and Bill Cork presented the preliminary results of the D&Z
Settlement.
10. Scott Norton, Faith Phillips and Bill Cork presented an update on the Army Contract
Renegotiation.
With no other actions to be taken a motion was made by Wayne Cranfill, seconded by Denis
Washington and meeting was adjourned at 11:16 a.m.
n:\tac\committees\investment and finance committee\20120113 investment-finance cmte mtg\20111117 investment finance cmte minutes.docx

January 10, 2012
Chairman, Audit Committee
TEXAMERICAS CENTER
107 Chapel Lane
New Boston, TX 75570
Subject: Management recommendations
In planning and performing our audit of the financial statements of the TexAmericas
Center for the year ended September 30, 2011, we considered the organization’s internal
control structure to determine our auditing procedures for the purpose of expressing an
opinion on the audited financial statements and not to provide assurance on the internal
control structure.
However, during our audit we became aware of various matters that are an opportunity to
strengthen internal controls and operating efficiency.
1. Comment
We noted the organization does not have an asset impairment policy that outlines
the procedures to identify and track unexpected declines in the service utility of a
capital asset. We believe the internal controls over fixed assets are strong however
it is our opinion that a written policy outlining the procedures the organization
follows to identify potential declines in capital asset values would strengthen the
present internal controls as well as establish a history of monitoring asset values.
Recommendation
We recommend the TexAmericas Center consider establishing a policy consistent
with GASB Statement No. 42 which outlines the guidance for the accounting and
reporting for the impairment of capital assets. Criteria to be included in the policy
would outline the procedure to identify potential significant events that would have
generally prompted discussion by the board of directors, management, or media.
Common types of impairment include:
Physical damage
Enactment or approval of laws or regulations or other changes in
environmental factors
Change in manner or expected duration of use
Construction stoppage
The organization should review this recommendation and consider establishing a
policy that can be timely enacted as circumstances dictate.

This letter does not affect our report dated January 10, 2012 on the financial
statements of the TexAmericas Center. These recommendations should in no way
be construed as derogatory. No matters that are required to be reported under
professional standards were noted. We will review the status of these comments and
recommendations during our next audit engagement. We have already discussed
these matters with management and will be pleased to discuss it in further detail
with you at your convenience.
Sincerely,
Dallas, Texas
Page 2

Pledged Collateral Report
12/31/11
Regions
Type Fund Description Account Amount
Restricted Cash Enterprise Construction 10110 174,607.16 TB
Restricted Cash Enterprise Bond Reserve 10120 28,604.69 TB
Restricted Cash Enterprise I&S Reserve 10130 134,806.43 TB
Restricted Cash Enterprise Repair & Replacement 10140 2,713.41 TB
Restricted Cash Enterprise Bond Proceeds Money Market 10310 3,113,094.43 TB
Total 3,453,826.12
Less Deposit in Transit -
Adjusted Total 3,453,826.12
FDIC Coverage 250,000.00 $
Pledged Securities @ 12/31/11 3,508,193.11 @
% Coverage 109%
Wells Fargo
Type Fund Description Account Amount
Checking Enterprise Checking 10010 796,241.80 TB
Checking General Checking 10015 314,961.97 TB
Money Market General Money Market 10025 231,337.19 TB
Total 1,342,540.96
FDIC Coverage 250,000.00 $
Pledged Securities @ 12/31/11 5,398,746.68 @
% Coverage 421%
Guaranty Bond
Type Fund Description Account Amount
Checking Enterprise Checking 10000 2,352,435.15 TB
Restricted CD Enterprise Bond Reserve 10220 652,131.64 TB
Restricted CD Enterprise Repair & Replacement 10240 150,491.92 TB
Restricted CD Enterprise Bond Proceeds 10402 1,004,865.75 TB
Restricted CD Enterprise Bond Proceeds 10403 1,006,082.19 TB
Restricted CD Enterprise Bond Proceeds 10404 1,006,386.30 TB
Checking General Checking 10010 417,452.51 TB
Money Market General Money Market 10020 231,337.19 TB
Total 6,821,182.65
FDIC Coverage 250,000.00 $
Pledged Securities @ 12/31/11 8,648,411.20 @
% Coverage 130%
Capital One
Type Fund Description Account Amount
Checking General Checking 13,430.37 TB
FDIC Coverage 250,000.00 $
% Coverage 1861%
TB Agrees to 12/31/11 trial balance
@ agrees to pledged report examined
$ Agrees to 2011 FDIC Coverage limits

INVESTMENT PORTFOLIO SUMMARY
For the Quarter Ended
December 31, 2011
Prepared by
Valley View Consulting, L.L.C.
The investment portfolio of the Red River Redevelopment Authority is in compliance with the Public
Funds Investment Act and the Investment Policy.
Executive Director
Controller

Strategy Summary:
The Federal Open Market Committee (FOMC) maintained the Fed Funds target range between 0.00% and 0.25% (actual Fed Funds
traded below 10bps). The European Union crisis has been the main market focus. Continuing deterioration and uncertainty of
individual country credit ratings, and the political and financial costs of stabilization, dampened any positive domestic news. The FOMC
initiated Operation Twist in a attempt to reduce longer-term interest rates by selling shorter securities and buying longer securities.
There is also discussion of a potential QE3. Overnight yields provide limited earnings. Projecting cash flows and laddering, where
appropriate, still provides the best earnings opportunity.
Quarter End Results by Investment Category:
December 31, 2011 September 30, 2011
Asset Type Ave. Yield Book Value Market Value Book Value Market Value
DDA/MMA/NOW 0.04% $ 8,581,036.58 $ 8,581,036.58 $ 8,951,674.20 $ 8,951,674.20
CD/Security/ TexasTERM 0.90% 3,819,957.80 3,819,957.80 3,811,362.74 3,811,362.74
Totals $ 12,400,994.38 $ 12,400,994.38 $ 12,763,036.94 $ 12,763,036.94
Quarterly Portfolio Performance
Yearly Portfolio Performance
Average Quarterly Yield 0.30% Average Quarter End Yield 0.30%
Rolling Three Mo. Treas. Yield 0.02% Rolling Three Mo. Treas. Yield 0.02%
Rolling Six Mo. Treas. Yield 0.06% Rolling Six Mo. Treas. Yield 0.06%
Average Quarter End TexPool Yield 0.08%
Quarterly Interest Earnings (Reported Separately)
Note: Average yields calculated using quarter end report average yield and adjusted book value, but do not include adviser fees and realized and unrealized gains or losses.
Valley View Consulting, L.L.C.
Page 1.

3.50
Treasury Yield Curves
3.00
2.50
Percentage
2.00
1.50
1.00
0.50
0.00
December 31, 2010 September 30, 2011 December 30, 2011
Valley View Consulting, L.L.C.
Page 2.

Percentage
7.50
7.00
6.50
6.00
5.50
5.00
4.50
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
US Treasury Historical Yields
Six Month T-Bill Two Year T-Note Ten Year T-Note
Valley View Consulting, L.L.C.
Page 3.

1,750
S&P 500
1,500
1,250
1,000
750
500
250
0
Valley View Consulting, L.L.C.
Page 4.

Detail of Investment Holdings
December 31, 2011
Coupon/ Maturity Settlement Original Face\ Book Market Market Life
Description Rating Discount Date Date Par Value Value Price Value (Days) Yield
WF DDA - Enterprise 0.05% 1/1/2012 12/31/2011 $ 796,241.80 $ 796,241.80 1.00 $ 796,241.80 1 0.05%
WF DDA - Operating 0.04% 1/1/2012 12/31/2011 314,961.97 314,961.97 1.00 314,961.97 1 0.04%
Wells Fargo MMA 0.08% 1/1/2012 12/31/2011 231,337.19 231,337.19 1.00 231,337.19 1 0.08%
Regions Bank DDA 0.05% 1/1/2012 12/31/2011 340,731.69 340,731.69 1.00 340,731.69 1 0.05%
Regions Bank MMA 0.05% 1/1/2012 12/31/2011 3,113,094.43 3,113,094.43 1.00 3,113,094.43 1 0.05%
Capital One DDA 0.00% 1/1/2012 12/31/2011 13,430.37 13,430.37 1.00 13,430.37 1 0.00%
Guaranty Bond Checking 0.00% 1/1/2012 12/31/2011 2,769,887.66 2,769,887.66 1.00 2,769,887.66 1 0.00%
Guaranty Bond MMA 0.06% 1/1/2012 12/31/2011 1,001,351.47 1,001,351.47 1.00 1,001,351.47 1 0.06%
Guaranty Bond CD 0.80% 2/17/2012 5/23/2011 1,004,865.75 1,004,865.75 100.00 1,004,865.75 48 0.80%
Guaranty Bond CD 1.00% 5/23/2012 5/23/2011 1,006,082.19 1,006,082.19 100.00 1,006,082.19 144 1.00%
Guaranty Bond CD 1.05% 11/23/2012 5/23/2011 1,006,386.30 1,006,386.30 100.00 1,006,386.30 328 1.05%
Guaranty Bond CD 0.70% 1/13/2012 7/13/2011 652,131.64 652,131.64 100.00 652,131.64 13 0.70%
Guaranty Bond CD 0.70% 1/13/2012 7/13/2011 150,491.92 150,491.92 100.00 150,491.92 13 0.70%
(1) Weighted average life - Pools, Money Market Funds, and Bank Deposits are assumed to have a one day maturity.
$ 12,400,994.38 $ 12,400,994.38
$ 12,400,994.38 44 0.30%
(1) (2)
(2) Weighted average yield to maturity - The weighted average yield to maturity is based on Book Value, adviser fees and realized and unrealized gains/losses are not considered. The Bank Deposit,
Pool, and Money Market Fund yields are the average for the last month of the quarter.
Valley View Consulting, L.L.C.
Page 5.

$15,000,000
$14,500,000
$14,000,000
$13,500,000
$13,000,000
$12,500,000
$12,000,000
$11,500,000
$11,000,000
$10,500,000
$10,000,000
Total Portfolio
Quarter End Book Value
Valley View Consulting, L.L.C.
Page 6.

Portfolio Composition
CD/Security/
TexasTERM
DDA/MMA/NOW
Valley View Consulting, L.L.C.
Page 7.

Book Value Comparison
September 30, 2011
December 31, 2011
Coupon/ Maturity Purchases/ Sales/Adjust/
Description Discount Date Par Value Book Value Adjustments Maturities Par Value Book Value
WF DDA - Enterprise 0.05% 1/1/2012 $ 3,123,110.49 $ 3,123,110.49 $ - $ (2,326,868.69) $ 796,241.80 $ 796,241.80
WF DDA - Operating 0.04% 1/1/2012 1,272,417.24 1,272,417.24 - (957,455.27) 314,961.97 314,961.97
Wells Fargo MMA 0.08% 1/1/2012 1,147,555.72 1,147,555.72 - (916,218.53) 231,337.19 231,337.19
Regions Bank DDA 0.05% 1/1/2012 282,453.98 282,453.98 58,277.71 - 340,731.69 340,731.69
Regions Bank MMA 0.05% 1/1/2012 3,112,706.40 3,112,706.40 388.03 - 3,113,094.43 3,113,094.43
Capital One DDA 0.00% 1/1/2012 13,430.37 13,430.37 - - 13,430.37 13,430.37
Guaranty Bond Checking 0.00% 1/1/2012 - - 2,769,887.66 - 2,769,887.66 2,769,887.66
Guaranty Bond MMA 0.06% 1/1/2012 - - 1,001,351.47 - 1,001,351.47 1,001,351.47
Guaranty Bond CD 0.80% 2/17/2012 1,002,849.32 1,002,849.32 2,016.43 - 1,004,865.75 1,004,865.75
Guaranty Bond CD 1.00% 5/23/2012 1,003,561.64 1,003,561.64 2,520.55 - 1,006,082.19 1,006,082.19
Guaranty Bond CD 1.05% 11/23/2012 1,003,739.73 1,003,739.73 2,646.57 - 1,006,386.30 1,006,386.30
Guaranty Bond CD 0.70% 1/13/2012 650,984.79 650,984.79 1,146.85 - 652,131.64 652,131.64
Guaranty Bond CD 0.70% 1/13/2012 150,227.26 150,227.26 264.66 - 150,491.92 150,491.92
TOTAL $ 12,763,036.94 $ 12,763,036.94 $ 3,838,499.93 $ (4,200,542.49) $ 12,400,994.38 $ 12,400,994.38
Valley View Consulting, L.L.C.
Page 8.

Market Value Comparison
September 30, 2011 December 31, 2011
Maturity Market Qtr to Qtr Market
Description Date Par Value Price Market Value Change Par Value Price Market Value
WF DDA - Enterprise 1/1/2012 $ 3,123,110.49 1.00 $ 3,123,110.49 $ (2,326,868.69) $ 796,241.80 1.00 $ 796,241.80
WF DDA - Operating 1/1/2012 1,272,417.24 1.00 1,272,417.24 (957,455.27) 314,961.97 1.00 314,961.97
Wells Fargo MMA 1/1/2012 1,147,555.72 1.00 1,147,555.72 (916,218.53) 231,337.19 1.00 231,337.19
Regions Bank DDA 1/1/2012 282,453.98 1.00 282,453.98 58,277.71 340,731.69 1.00 340,731.69
Regions Bank MMA 1/1/2012 3,112,706.40 1.00 3,112,706.40 388.03 3,113,094.43 1.00 3,113,094.43
Capital One DDA 1/1/2012 13,430.37 1.00 13,430.37 - 13,430.37 1.00 13,430.37
Guaranty Bond Checking 1/1/2012 - 1.00 - 2,769,887.66 2,769,887.66 1.00 2,769,887.66
Guaranty Bond MMA 1/1/2012 - 1.00 - 1,001,351.47 1,001,351.47 1.00 1,001,351.47
Guaranty Bond CD 2/17/2012 1,002,849.32 100.00 1,002,849.32 2,016.43 1,004,865.75 100.00 1,004,865.75
Guaranty Bond CD 5/23/2012 1,003,561.64 100.00 1,003,561.64 2,520.55 1,006,082.19 100.00 1,006,082.19
Guaranty Bond CD 11/23/2012 1,003,739.73 100.00 1,003,739.73 2,646.57 1,006,386.30 100.00 1,006,386.30
Guaranty Bond CD 1/13/2012 650,984.79 100.00 650,984.79 1,146.85 652,131.64 100.00 652,131.64
Guaranty Bond CD 1/13/2012 150,227.26 100.00 150,227.26 264.66 150,491.92 100.00 150,491.92
$ 12,763,036.94
$ 12,763,036.94 $ (362,042.56) $ 12,400,994.38
$ 12,400,994.38
Valley View Consulting, L.L.C.
Page 9.

Allocation
Book & Market Value
December 31, 2011
Total General Construction Enterprise
Water & Sewer
Escrow I&S Reserve
Required
Reserve
Replacement
Reserve
WF DDA - Enterprise $ 796,241.80 $ - $ - $ 796,241.80 $ - $ - $ - $ -
WF DDA - Operating 314,961.97 314,961.97
Wells Fargo MMA 231,337.19 231,337.19
Regions Bank DDA 340,731.69 174,607.16 134,806.43 28,604.69 2,713.41
Regions Bank MMA 3,113,094.43 3,113,094.43
Capital One Checking 13,430.37 13,430.37
Guaranty Bond Checking 2,769,887.66 417,452.51 2,352,435.15
Guaranty Bond MMA 1,001,351.47 1,001,351.47
2/17/2012 1,004,865.75 1,004,865.75
5/23/2012 1,006,082.19 1,006,082.19
11/23/2012 1,006,386.30 1,006,386.30
1/13/2012 652,131.64 652,131.64
1/13/2012 150,491.92 150,491.92
Totals $ 12,400,994.38 $ 1,978,533.51 $ 174,607.16 $ 3,148,676.95 $ 6,130,428.67 $ 134,806.43 $ 680,736.33 $ 153,205.33
Valley View Consulting, L.L.C.
Page 10.

Allocation
Book & Market Value
Total General Construction Enterprise
Water & Sewer
Escrow
I&S Reserve
September 30, 2011
Required
Reserve
Replacement
Reserve
WF DDA - Enterprise $ 3,123,110.49 $ - $ - $ 3,123,110.49 $ - $ - $ - $ -
WF DDA - Operating 1,272,417.24 1,272,417.24
Wells Fargo MMA 1,147,555.72 1,147,555.72
Regions Bank DDA 282,453.98 197,210.21 53,929.57 28,601.12 2,713.08
Regions Bank MMA 3,112,706.40 3,112,706.40
Capital One Checking 13,430.37 13,430.37
2/17/2012 1,002,849.32 1,002,849.32
5/23/2012 1,003,561.64 1,003,561.64
11/23/2012 1,003,739.73 1,003,739.73
1/13/2012 650,984.79 650,984.79
1/13/2012 150,227.26 150,227.26
Totals $ 12,763,036.94 $ 2,433,403.33 $ 197,210.21 $ 3,123,110.49 $ 6,122,857.09 $ 53,929.57 $ 679,585.91 $ 152,940.34
Page 11.

Disclaimer
This report was compiled using information provided by the Red River Redevelopment
Authority. No procedures were performed to test the accuracy or completeness of this
information. The market values included in these reports were obtained by Valley View
Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation.
Due to market fluctuations these levels are not necessarily reflective of current liquidation
values. Yield calculations are not determined using standard performance formulas, are not
representative of total return yields, and do not account for investment adviser fees.
Page 12.

TexAmericas Center
Governmental Fund Type - General Fund
Balance Sheet
As of December 31, 2011 and 2010
ASSETS
Current Assets
Cash
Dec 31, 2011 Dec 31, 2010
Cash - Checking $ 959,101 $ 28,190
Cash - MM 1,232,689 896,957
Cash - CDs - 500,427
Total Cash 2,191,790 1,425,574
Accounts Receivable
Accounts Receivable 47,934 17,498
Total Accounts Receivable 47,934 17,498
Other Current Assets
Prepaid Expenditures 11,137 26,925
Due from Enterprise Fund 599,731 183,915
Due from OEA 66,698 280,061
Due from DEAAG - 800
Total Other Current Assets 677,566 491,701
Total Current Assets 2,917,290 1,934,773
TOTAL ASSETS $ 2,917,290 $ 1,934,773
LIABILITIES
Accounts Payable
Accounts Payable $ 214,058 $ 99,837
Total Accounts Payable 214,058 99,837
Other Current Liabilities
Accrued Liabilities 29,580 29,834
Unearned Revenue 10,000 23,265
Other Current Liabilities-Customer Prepayments 57,781 15,237
Lease Deposit 45,384 35,218
Payroll Liabilities 1,084 12,736
Total Other Current Liabilities 143,829 116,290
Total Liabilities 357,887 216,127
Fund Balances
Unreserved 2,419,163 1,591,950
Net Change in Fund Balance 140,240 126,696
Total Fund Balance 2,559,403 1,718,646
TOTAL LIABILITIES & FUND BALANCE $ 2,917,290 $ 1,934,773
See Accountants' compilation report. Page 1 of 11

TexAmericas Center
Governmental Fund Type - General Fund
Statement of Revenues & Expenditures
Actual and Current Annual Budget
For the Three Months Ended December 31, 2011 and 2010
Revenues
Current Year to Date Prior Year to Date Annual Budget
Lease Revenue $ 390,914 $ 428,469 $ 1,571,171
Franchise Fees 15,489 13,963 50,000
Interest Revenue 1,485 1,102 8,000
Hunting & Timber Revenue 36,932 40,277 1,241,500
Personal Property Sales 13,681 14,069 200,000
Army M&R Revenue 505,000 - 650,000
Grants 182,429 108,121 844,244
ESCA - - 591,756
Other Income - 395 50,000
Total Revenues 1,145,930 606,396 5,206,671
Expenditures - Current
Salaries & Wages 143,647 86,017 894,230
Health Insurance 11,000 5,031 99,173
Pension 13,489 8,243 111,780
Payroll Taxes 8,709 4,621 70,717
Cell Phone 1,944 - 13,233
Workers Compensation - - 11,161
Training & Education 1,712 - 10,011
Uniforms 746 - 6,535
Other Employment Costs 127 - 3,105
Temporary Labor 3,987 - 24,000
Conferences - - 20,800
Dues & Memberships 5,550 5,100 20,395
Travel 3,558 626 74,450
Board Meetings, Special Events, & Community 4,995 12,013 32,500
Small Tools & Equipment 4,218 - 12,000
Equipment Maintenance 1,820 - 10,500
Vehicle Repairs & Maintenance 1,810 261 8,250
Fuel 3,356 460 54,880
Cost of Sales & Leases 12,847 124,886 350,000
Cost of Personal Property Sales - - 80,000
Insurance 38,214 31,299 157,010
Building & Infrastructure Repairs 457,053 2,100 855,000
Contractual Lawn Services 12,320 15,838 98,000
Contractual Maintenance & Repairs - - 10,000
Grounds Maintenance - - 27,500
Forestry 5 3,783 53,909
Hunting 1,592 14,455 9,763
Auditing 20,000 - 22,000
Accounting 13,010 14,847 40,000
Consulting 32,962 23,066 485,260
Marketing 30,616 30,209 137,008
Legal 40,267 24,296 185,000
Custodial 1,038 865 4,360
Computer, Reproduction & Maintenance 9,386 8,234 56,385
Office Supplies 3,139 1,077 10,500
Postage 435 792 2,500
Telephone & Internet 2,539 3,195 9,200
Utilities 3,148 2,088 12,500
Waste Management 783 724 4,000
Advertising - 2,257 5,000
Miscellaneous 404 - 5,000
Bad Debt - - 15,000
Capital Outlay 66,385 - 465,000
See Accountants' Compilation Report. Page 2 of 11

TexAmericas Center
Governmental Fund Type - General Fund
Statement of Revenues & Expenditures
Actual and Current Annual Budget
For the Three Months Ended December 31, 2011 and 2010
Current Year to Date Prior Year to Date Annual Budget
Debt Service 53,317 213,276
Principal 136,928 - -
Interest 7,622 - -
Total Expenditures 1,101,361 479,700 4,790,891
Excess (Deficiency) of Revenues Over Expenditures 44,569 126,696 415,780
Other Financing Sources (Uses)
Proceeds from Line of Credit 95,671 - -
Total Other Financing Sources (Uses) 95,671 - -
Net Change in Fund Balance 140,240 126,696 415,780
Fund Balance at the beginning of year 2,419,163 1,591,950 2,419,163
Fund Balance at the end of period $ 2,559,403 $ 1,718,646 $ 2,834,943
See Accountants' Compilation Report. Page 3 of 11

TexAmericas Center
Proprietary Fund Type - Enterprise Fund
Statement of Net Assets
As of December 31, 2011 and 2010
Dec 30, 2011 Dec 30, 2010
ASSETS
Current Assets
Bank Accounts
Cash $ 1,245,566 $ 1,080,550
Total Bank Accounts 1,245,566 1,080,550
Accounts Receivable
Accounts Receivable 859,014 328,656
Due (to) from General Fund (599,731) (183,915)
Total Accounts Receivable 259,283 144,741
Other Current Assets
Prepaid Expenses 6,450 18,197
Total Other Current Assets 6,450 18,197
Total Current Assets 1,511,299 1,243,488
Restricted Cash
Restricted Cash - FC - Water 622,445 897,498
Restricted Cash - FC - Wastewater 1,402,547 1,385,100
Restricted Cash - FC - Industrial Wastewater (120,752) (184,101)
Restricted Cash - 2005 Rev Bonds 1,143,356 1,373,093
Restricted CD - 2005 Rev Bonds - -
Restricted Cash - 2005 Rev Bonds - Bond Proceeds 3,113,094 6,096,253
Restricted CD - 2005 Rev Bonds - Bond Proceeds 3,017,334 -
Total Restricted Cash 9,178,024 9,567,843
Fixed Assets
Construction in Progress 980,324 436,295
Fixed Assets 12,022,849 11,679,117
Accumulated Depreciation (2,901,491) (2,364,644)
Total Fixed Assets 10,101,682 9,750,768
Other Assets
Unamortized Bond Issuance Costs 111,999 122,665
Total Other Assets 111,999 122,665
TOTAL ASSETS $ 20,903,004 $ 20,684,764
See Accountants' Compilation Report Page 4 of 11

TexAmericas Center
Proprietary Fund Type - Enterprise Fund
Statement of Net Assets
As of December 31, 2011 and 2010
Dec 30, 2011 Dec 30, 2010
LIABILITIES AND NET ASSETS
Liabilities
Current Liabilities
Accounts Payable
Accounts Payable $ 32,057 $
75,449
Total Accounts Payable 32,057 75,449
Other Current Liabilities
Accrued Liabilities 51,692 57,025
Accrued Compensated Absences - Current 4,552 16,089
Current Portion Bonds Payable 410,000 390,000
Accrued Interest Payable- Bonds 134,777 142,415
Total Other Current Liabilities 601,021 605,529
Total Current Liabilities 633,078 680,978
Long Term Liabilities
Accrued Compensated Absences - Long Term 15,896 -
2005 Revenue Bonds Payable 5,515,000 5,925,000
Total Long Term Liabilities 5,530,896 5,925,000
Total Liabilities 6,163,974 6,605,978
Net Assets
Restricted for Cap Improv- FC- W 622,445 897,498
Restricted for Cap Improv- FC- WW 1,402,547 1,385,100
Restricted for Cap Improv- FC- IWW (120,752) (184,101)
Restricted for Required TWDB Reserve 680,736 676,960
Restricted for Debt Service 29 28,691
Restricted for Repairs and Replacement 153,205 152,304
Restricted for Construction 6,301,591 6,423,147
Net Assets Invested in Capital Assets, Net of Debt 4,176,682 3,435,768
Net Assets - Unrestricted 1,375,904 1,149,974
Change in Net Assets 146,643 113,445
Total Net Assets 14,739,030 14,078,786
TOTAL LIABILITIES AND NET ASSETS $ 20,903,004 $ 20,684,764
See Accountants' Compilation Report Page 5 of 11

TexAmericas Center
Proprietary Fund Type - Enterprise Fund
Statement of Revenues & Expenses - Actual & Budgetary Basis
For the Three Month Period Ended December 31, 2011
Actual
Budgetary Basis
Oct - Dec 11 Adjustments Oct - Dec 11
Operating Revenues
Army Revenue $ 627,701 $ - $ 627,701
Residential & Commercial Revenue 11,239 - 11,239
Total Income 638,940 - 638,940
Cost of Goods Sold
Labor 155,734 - 155,734
Analytical 24,873 - 24,873
Repair 78,557 - 78,557
Maintenance 350 - 350
Materials 72,842 - 72,842
Supplies 11,987 - 11,987
Permits 16,729 - 16,729
Equipment Maintenance/Repairs/Fuel 7,633 - 7,633
Utilities 22,618 - 22,618
Waste Disposal 47,697 - 47,697
Equipment Rental 1,428 - 1,428
Consulting 20,358 - 20,358
Total Cost of Goods Sold 460,806 - 460,806
Gross Profit 178,134 - 178,134
Operating Expenses
Office Labor 58,752 - 58,752
Travel 891 - 891
Meals & Meetings 1,027 - 1,027
Insurance 9,731 - 9,731
Accounting 4,025 - 4,025
Legal 4,689 - 4,689
Computer , Reproduction & Maintenance 570 - 570
Office Supplies 2,343 - 2,343
Postage 495 - 495
Licenses & Fees 60 - 60
Advertising 355 - 355
Total Operating Expenses 82,938 - 82,938
Net Operating Revenues (Expenses) 95,196 - 95,196
See Accountants' Compilation Report Page 6 of 11

TexAmericas Center
Proprietary Fund Type - Enterprise Fund
Statement of Revenues & Expenses - Actual & Budgetary Basis
For the Three Month Period Ended December 31, 2011
Actual
Budgetary Basis
Oct - Dec 11 Adjustments Oct - Dec 11
Nonoperating Revenues (Expenses)
Interest Income 9,140 - 9,140
Depreciation (136,955) 136,955 -
Capital Expenditures - Bond - (20,267) (20,267)
Capital Expenditures - Non Bond - (112,979) (112,979)
Amortization Expense (2,667) 2,667 -
Interest Expense (80,866) - (80,866)
Total Nonoperating Revenues (Expenses) (211,348) 6,376 (204,972)
Income (loss) before capital contributions (116,152) 6,376 (109,776)
Facility Charges 262,795 - 262,795
Facility Charge Carryover from Previous Years - - -
Restricted Cash Bond Proceeds Carryover - 20,267 20,267
Change in Net Assets 146,643 $ 26,643 $ 173,286
Total Net Assets, Beginning of Year 14,592,387
Total Net Assets, End of Period $ 14,739,030
See Accountants' Compilation Report Page 7 of 11

TexAmericas Center
Proprietary Fund Type - Enterprise Fund
Statement of Revenues & Expenses
Actual Adjusted to Budgetary Basis and Current Annual Budget
For the Three Month Period Ended December 31, 2011
Budgetary Basis Budgetary Basis Annual
Oct - Dec 11 Oct - Dec 10 Budget
Operating Revenues
Army Revenue $ 627,701 $ 619,254 $ 2,477,016
Residential & Commercial Revenue 11,239 14,892 53,284
Total Income 638,940 634,146 2,530,300
Cost of Goods Sold
Labor 155,734 159,599 1,024,105
Analytical 24,873 28,345 115,300
Repair 78,557 23,363 325,000
Maintenance 350 6,001 27,000
Materials 72,842 38,582 313,000
Supplies 11,987 8,119 29,400
Permits 16,729 4,828 21,000
Equipment Maintenance/Repairs/Fuel 7,633 7,026 42,000
Utilities 22,618 22,031 119,440
Waste Disposal 47,697 4,702 165,000
Equipment Rental 1,428 1,205 16,000
Consulting 20,358 58,753 182,197
Total Cost of Goods Sold 460,806 362,554 2,379,442
Gross Profit 178,134 271,592 150,858
Operating Expenses
Office Labor 58,752 47,314 250,973
Travel 891 - 4,000
Meals & Meetings 1,027 - 5,200
Insurance 9,731 16,968 41,550
Accounting 4,025 10,821 30,000
Legal 4,689 - -
Computer , Reproduction & Maintenance 570 - 15,192
Office Supplies 2,343 249 2,500
Postage 495 378 2,500
Waste Management - - 3,500
Licenses & Fees 60 - 1,000
Advertising 355 - 500
Bad Debt - - 250
Total Operating Expenses 82,938 75,730 357,165
Net Operating Revenues (Expenses) 95,196 195,862 (206,307)
See Accountants' Compilation Report Page 8 of 11

TexAmericas Center
Proprietary Fund Type - Enterprise Fund
Statement of Revenues & Expenses
Actual Adjusted to Budgetary Basis and Current Annual Budget
For the Three Month Period Ended December 31, 2011
Budgetary Basis Budgetary Basis Annual
Oct - Dec 11 Oct - Dec 10 Budget
Nonoperating Revenues (Expenses)
Interest Income 9,140 13,574 25,000
Gain (Loss) on Sale of Asset - 20,670 -
Capital Expenditures - Bond (20,267) (125,657) -
Capital Expenditures - Non Bond (112,979) (1,321) -
Capital Expenditures - O&M - (24,471) -
Interest Expense (80,866) (85,449) (500,000)
Total Nonoperating Revenues (Expenses) (204,972) (202,654) (475,000)
Income (loss) before capital contributions (109,776) (6,792) (681,307)
Facility Charges 262,795 260,618 1,042,370
Facility Charge Carryover from Previous Years - - -
Restricted Cash Bond Proceeds Carryover 20,267 125,657 -
Change in Net Assets $ 173,286 $ 379,483 $ 361,063
See Accountants' Compilation Report Page 9 of 11

TexAmericas Center
Governmental Fund Type - Special Revenue - 2011 OEA Grant
Balance Sheet
As of December 31, 2011
ASSETS
Current Assets
Sept 30, 2011
Due from OEA $ 66,698
Total Current Assets 66,698
TOTAL ASSETS $ 66,698
LIABILITIES
Due to General Fund $ 66,698
Total Liabilities 66,698
FUND BALANCE
Unreserved -
Net Change in Fund Balance -
Total Fund Balance -
TOTAL LIABILITIES & FUND BALANCE $ 66,698
See Accountants' Compilation Report.
Page 10 of 11

TexAmericas Center
Governmental Fund Type - Special Revenue - 2011 OEA Grant
Statement of Revenues & Expenditures
Actual and Budget
For the Fifteen Month Period Ended December 31, 2011
Revenues
Actual
Available
Oct 10 - Dec 11 Budget Budget
OEA Grant Revenue $ 1,032,306 $ 1,235,501 $ 203,195
Total Revenues 1,032,306 1,235,501 203,195
Expenditure
Accounting Services 41,836 56,667 14,831
Advertising 2,011 4,661 2,650
Auditing 20,000 20,000 -
Computer/Reproduction/Maint 49,004 56,239 7,235
Conferences 2,665 5,625 2,960
Consulting 221,413 228,750 7,337
Capital Outlay 8,761 10,000 1,239
Dues/Memberships 1,200 1,446 246
Employee Ins/ Worker's Comp 37,809 74,025 36,216
Insurance 1,200 2,400 1,200
Legal 75,000 75,000 -
Office Supplies 10,820 10,820 -
Payroll Taxes 38,249 50,873 12,624
Pension Expense 45,159 79,717 34,558
Postage 2,550 2,705 155
Salary & Wages 543,949 637,735 93,786
Telephone 17,047 18,350 1,303
Travel 18,287 27,718 9,431
Utilities 10,047 10,047 -
Total Expenditures 1,147,007 1,372,778 225,771
Excess (deficiency) of Revenues Over Expenditures (114,701) (137,277) (22,576)
Other Financing Sources (Uses)
Transfer In - General Fund 114,701 137,277 22,576
Total Other Financing Sources (Uses) 114,701 137,277 22,576
Net Change in Fund Balance - - $ -
Fund Balance at the beginning of the year - -
Fund Balance at the end of the year $ - $
-
See Accountants' compilation report.
Page 11 of 11

2012 Recap of Restricted Cash and Reserved Funds
FY 2010 October November December January February March April May June July August September
Cumulative Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected
Bond Funds
Bond Proceeds - All Other 6,122,880.90 6,125,409.82 6,127,880.20 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67
Bond Proceeds - Construction 197,210.84 182,582.44 174,599.94 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16
Bond - Required Reserve 679,585.91 679,973.56 680,348.72 680,736.33 680,736.33 680,736.33 680,736.33 680,736.33 680,736.33 680,736.33 680,736.33 680,736.33 680,736.33
Bond - I & S Reserve 53,929.57 80,887.50 107,846.28 134,806.43 134,806.43 134,806.43 134,806.43 134,806.43 134,806.43 134,806.43 134,806.43 134,806.43 134,806.43
Bond - Replacement Reserve 152,940.34 153,029.63 153,116.04 153,205.33 153,205.33 153,205.33 153,205.33 153,205.33 153,205.33 153,205.33 153,205.33 153,205.33 153,205.33
Total Bond Proceed Balance 7,206,547.56 7,221,882.95 7,243,791.18 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92
Facility Charge Funds
Reserved for Water 759,757.56 656,381.82 633,680.68 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29
Reserved for Waste Water 1,351,636.93 1,371,236.14 1,383,151.34 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71
Reserved for Industrial Waste Water (140,550.55) (133,953.02) (127,352.53) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04)
Total Facility Charge Cash Balance 1,970,843.94 1,893,664.94 1,889,479.49 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96
Total Restricted Cash 9,177,391.50 9,115,547.89 9,133,270.67 9,178,023.88 9,178,023.88 9,178,023.88 9,178,023.88 9,178,023.88 9,178,023.88 9,178,023.88 9,178,023.88 9,178,023.88 9,178,023.88
Total Enterprise fund Cash 3,123,110.49 2,965,375.70 2,996,082.00 3,148,676.95
Total Bond Cash 7,206,547.56 7,221,882.95 7,243,791.18 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92
10,329,658.05 10,187,258.65 10,239,873.18 10,422,460.87 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92
Enterprise Fund - Unrestricted Cash 1,152,266.55 1,071,710.76 1,106,602.51 1,244,436.99 (1,904,239.96) (1,904,239.96) (1,904,239.96) (1,904,239.96) (1,904,239.96) (1,904,239.96) (1,904,239.96) (1,904,239.96) (1,904,239.96)
Due From Army for O&M 206,418.01 415,651.89 437,828.83 647,062.71 647,062.71 647,062.71 647,062.71 647,062.71 647,062.71 647,062.71 647,062.71 647,062.71 647,062.71
Due From Army - Settlement (53,192.15) (48,759.47) (44,326.79) (39,894.11) (39,894.11) (39,894.11) (39,894.11) (39,894.11) (39,894.11) (39,894.11) (39,894.11) (39,894.11) 14,596.87
Total Due from Army 153,225.86 366,892.42 393,502.04 607,168.60 607,168.60 607,168.60 607,168.60 607,168.60 607,168.60 607,168.60 607,168.60 607,168.60 661,659.58
Total Unrestricted Cash & Army Rec 1,305,492.41 1,438,603.18 1,500,104.55 1,851,605.59 (1,297,071.36) (1,297,071.36) (1,297,071.36) (1,297,071.36) (1,297,071.36) (1,297,071.36) (1,297,071.36) (1,297,071.36) (1,242,580.38)
Water Settle-up Collected (4,432.68) (4,432.68) (4,432.68)
O&M Income Collected 187,056.94
Total Collected (4,432.68) 182,624.26 (4,432.68) - - - - - - - - -
O&M Income for Month 209,233.88 209,233.88 209,233.88 - - - - - - - - -
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2012 Wet Utilities Revenue
Army Revenue
October November December January February March April May June July August September Settlement Total
Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Actual
Potable Water System
Water Facility Charge 46,230.65 46,230.65 46,230.65 138,691.95
Capex Charge (includes CIP Mods and Interest Adj) 1,491.86 1,491.86 1,491.86 4,475.58
FC Credit Pending Rate Change Approval by Army -
Subtotal Facility Charge 47,722.51 47,722.51 47,722.51 - - - - - - - - - - 143,167.53
Water Fixed Volumetric Charge 56,743.11 56,743.11 56,743.11 170,229.33
Water Variable Volumetric Charge 7,159.24 7,159.24 7,159.24 21,477.72
Subtotal Volumetric Charge 63,902.35 63,902.35 63,902.35 - - - - - - - - - - 191,707.05
Total Water System Revenue 111,624.86 111,624.86 111,624.86 - - - - - - - - - - 334,874.58
Waste Water System
Waste Water Facility Charge 32,850.95 32,850.95 32,850.95 98,552.85
Capex Charge (includes CIP Mods and Interest Adj) (1,078.41) (1,078.41) (1,078.41) (3,235.23)
FC Credit Pending Rate Change Approval by Army -
Subtotal Facility Charge 31,772.54 31,772.54 31,772.54 - - - - - - - - - - 95,317.62
Waste Water Fixed Volumetric Charge 47,774.16 47,774.16 47,774.16 143,322.48
Waste Water Variable Volumetric Charge 2,103.47 2,103.47 2,103.47 6,310.41
Subtotal Volumetric Charge 49,877.63 49,877.63 49,877.63 - - - - - - - - - - 149,632.89
Total Waste Water System Revenue 81,650.17 81,650.17 81,650.17 - - - - - - - - - - 244,950.51
Industrial Waste Water System
Industrial Waste Water Facility Charge 6,652.51 6,652.51 6,652.51 19,957.53
Capex Credit (includes CIP Mods and Interest Adj) (52.02) (52.02) (52.02) (156.06)
FC Credit Pending Rate Change Approval by Army -
Subtotal Facility Charge 6,600.49 6,600.49 6,600.49 - - - - - - - - - - 19,801.47
Industrial Waste Water Fixed Volumetric Charge 88,697.33 88,697.33 88,697.33 266,091.99
Industrial Waste Water Variable Volumetric Charge 6,756.57 6,756.57 6,756.57 20,269.71
Subtotal Volumetric Charge 95,453.90 95,453.90 95,453.90 - - - - - - - - - - 286,361.70
Total Industrial Waste Water System Revenue 102,054.39 102,054.39 102,054.39 - - - - - - - - - - 306,163.17
Extraordinary Items - - - - - - - - - - - - - -
Annual Settlement - - - - - - - - - - -
Total Army Invoice 295,329.42 295,329.42 295,329.42 - - - - - - - - - - 885,988.26
Total Contract Revenue 295,329.42 295,329.42 295,329.42 - - - - - - - - - - 885,988.26
Residential and Commercial Facility Charge
Potable Water Volumetric Charge 4,777.22 1,443.10 949.90 7,170.22
Potable Water Facility Charge 1,691.10 588.18 511.54 2,790.82
Waste Water Volumetric Charge 1,835.69 1,159.57 1,073.71 4,068.97
Waste Water Facility Charge 669.73 519.68 528.24 1,717.65
Industrial Waste Water Volumetric Charge -
Industrial Waste Water Facility Charge -
Total Commercial Customer Revenue 8,973.74 3,710.53 3,063.39 - - - - - - - - - - 15,747.66
Reimbursable Service Work -
Incentives -
Total Revenue 304,303.16 299,039.95 298,392.81 - - - - - - - - - - 901,735.92
Facility Charge 88,456.37 87,203.40 87,135.32 - - - - - - - - - - 262,795.09
Reimbursable Service Work - - - - - - - - - - - - - -
Operating Revenue 215,846.79 211,836.55 211,257.49 - - - - - - - - - - 638,940.83
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2012 Wet Utilities Operating Expenses
October November December January February March April May June July August September Total
Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected Actual
RRRA Expenses
Labor 44,282.17 53,141.72 58,309.98 155,733.87
Analytical 12,006.00 9,292.00 3,575.00 24,873.00
Repairs 21,816.59 28,337.57 28,403.14 78,557.30
Maintenance - 350.00 - 350.00
Materials 30,645.62 13,537.42 28,659.38 72,842.42
Supplies 7,057.73 2,290.23 2,639.53 11,987.49
Permits 16,001.50 727.80 - 16,729.30
Equipment Maintenance/Repairs/Fuel 2,435.02 3,031.81 2,166.04 7,632.87
Utilities 7,548.93 7,356.72 7,711.95 22,617.60
Waste Disposal 45,572.53 1,861.88 262.35 47,696.76
Equipment Rental 827.24 - 600.44 1,427.68
Consulting 9,371.00 3,074.25 7,913.16 20,358.41
Overhead 25,571.11 28,483.04 28,883.78 82,937.93
Total O&M Expenses 223,135.44 151,484.44 169,124.75 - - - - - - - - - 543,744.63
O&M Net Margin Summary
Total Operating Revenue (excludes FC's and FC Adj.) 215,846.79 211,836.55 211,257.49 - - - - - - - - - 638,940.83
less O&M Expenses (223,135.44) (151,484.44) (169,124.75) - - - - - - - - - (543,744.63)
less O&M Construction In Progress -
equals Gross Margin (7,288.65) 60,352.11 42,132.74 - - - - - - - - - 95,196.20
Gross Margin as a percentage of Total Operating Revenue -3.38% 28.49% 19.94% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 14.90%
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2012 Wet Utilities Capital Program
Cumulative October November December January February March April May June July August September
Thru 30 Sept 10 Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected
Bond Proceeds - All Other
Principal Balance 8,000,000.00 6,122,880.90 6,125,409.82 6,127,880.20 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67
less Create Bond Construction Account (44,877.23)
less Bond Issuance Costs (155,122.77)
less Water Program Expenditures (129,124.44)
less Waste Water Program Expenditures (129,124.44)
plus Interest Earned on Unspent Balance 790,378.56 2,552.73 2,493.38 2,571.47
less Fees (38,954.87) (23.81) (23.00) (23.00)
less Transfer to Construction Account (2,170,293.91)
Bond Proceeds - All Other 6,122,880.90 6,125,409.82 6,127,880.20 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67 6,130,428.67
Bond Proceeds - Construction Account
Beginning Balance - Transferred from Bond Proceeds 44,877.23 197,210.84 182,582.44 174,599.94 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16
add Refund of Bond Issuance Costs 649.21 - - - - - - - - - - - -
less Bond Issuance Costs (26,857.25) - - - - - - - - - - - -
less Water Program Expenditures (978,626.35) - - - - - - - - - - - -
less Waste Water Program Expenditures (840,634.64) (15,542.58) (1,280.00) (3,444.50) - - - - - - - - -
less Industrial Waste Water Program Expenditures - - - - - - - - - - - - -
Add: Interest less Fees 789.72 7.60 7.50 7.22
add Transfers from Morgan Keegan Trust 2,170,293.91 - - - - - - - - - - -
Due from Enterprise Fund (invoice paid by Ent cash) 133,489.38 3,676.58 7,341.00 1,280.00 - - - - - - - - -
Due to Vendor - Bond (current bond invoice less current pmt) (306,770.37) (2,770.00) (14,051.00) 2,164.50 - - - - - - - - -
Bond Proceeds - Construction 197,210.84 182,582.44 174,599.94 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16 174,607.16
Ending Bond Proceed Reserve 6,320,091.74 6,307,992.26 6,302,480.14 6,305,035.83 6,305,035.83 6,305,035.83 6,305,035.83 6,305,035.83 6,305,035.83 6,305,035.83 6,305,035.83 6,305,035.83 6,305,035.83
Bond Debt Service Reserve Schedule
Beginning Carryover Balance 886,455.82 913,890.69 941,311.04 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09
Bond - Required Reserve 679,585.91 387.65 375.16 387.61
Bond - I & S Reserve 53,929.57 26,957.93 26,958.78 26,960.15
Bond - Replacement Reserve 152,940.34 89.29 86.41 89.29
Bond Payment - - - - - - - - - - -
Ending Debt Service Reserves 886,455.82 913,890.69 941,311.04 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09 968,748.09
Total Restricted Cash - Bond Funds 7,206,547.56 7,221,882.95 7,243,791.18 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92 7,273,783.92
Bond Debt Service and Reserve Schedule
Debt Service
Principal Balance 8,000,000.00 5,925,000.00 5,925,000.00 5,925,000.00 5,925,000.00 5,925,000.00 5,925,000.00 5,925,000.00 5,925,000.00 5,925,000.00 5,925,000.00 5,925,000.00 5,925,000.00
plus Interest Balance 4,529,568.94 2,162,835.00 2,162,835.00 2,162,835.00 2,162,835.00 2,162,835.00 2,162,835.00 2,162,835.00 2,162,835.00 2,162,835.00 2,162,835.00 2,162,835.00 2,162,835.00
less Principal Paid (2,075,000.00)
less Interest Paid (2,366,733.94)
Bond Payoff Balance 8,087,835.00 8,087,835.00 8,087,835.00 8,087,835.00 8,087,835.00 8,087,835.00 8,087,835.00 8,087,835.00 8,087,835.00 8,087,835.00 8,087,835.00 8,087,835.00 8,087,835.00
Reserved for Capital All Systems
Reserved for Capital Carried Forward 1,970,843.94 1,893,664.94 1,889,479.49 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96
Facilities Charges 9,663,619.05 86,095.54 86,095.54 86,095.54 - - - - - - - - -
Commercial WTP Facility Charge 313,696.81 2,360.83 1,107.86 1,039.78 - - - - - - - - -
Undercollected capital funded by Ent and URS 176,765.00
Plus Bond Proceeds Paid for Bond Projects 2,258,840.68 15,542.58 1,280.00 3,444.50 - - - - - - - - -
Less Capital Project Invoices (Bond and Non-Bond) (5,985,576.26) (86,271.80) (42,969.45) (4,004.50) - - - - - - - - -
Less Bond Payments (Principal and Interest) (4,441,733.94) - - - - - - - - - - - -
Less Required Payment Reserves and I&S Reserves (406,946.48) (27,345.58) (27,333.94) (27,347.76) - - - - - - - - -
Plus Interest Earned on Sinking Fund 220,018.08 41.56 - - - - - - - - - - -
Due to Vendor Non-bond Cap (Current Inv less current pmt) 1,090,069.30 70,729.22 41,689.45 560.00 - - - - - - - - -
Current Pmt to Vendor (917,908.30) (138,331.35) (64,054.91) (45,027.09) - - - - - - - - -
Reserved for Capital 1,970,843.94 1,893,664.94 1,889,479.49 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96
Reserved for Water
Reserved for Water Carried Forward - 759,757.56 656,381.82 633,680.68 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29
Facilities Charges 5,287,118.08 47,722.51 47,722.51 47,722.51 - - - - - - - - -
Commercial WTP Facility Charge 108,753.23 1,691.10 588.18 511.54 - - - - - - - - -
Undercollected capital funded by Ent and URS 177,395.00
Plus Bond Proceeds Paid for Bond Projects 1,198,416.19 - - - - - - - - - - - -
Less Capital Project Invoices (Bond and Non-Bond) (2,865,031.42) (63,229.22) (41,689.45) (560.00) - - - - - - - - -
Less Bond Payments (Principal and Interest) (3,113,367.55) - - - - - - - - - - - -
Less Required Payment Reserves and I&S Reserves (339,860.69) (14,474.02) (14,456.92) (14,442.35) - - - - - - - - -
Plus Interest Earned on Sinking Fund 92,459.84 16.02 - - - - - - - - - - -
Due to Vendor for Current Invoice 663,008.22 63,229.22 41,689.45 560.00 - - - - - - - - -
Current Pmt to Vendor - Non-Bond Capital (449,133.34) (138,331.35) (56,554.91) (45,027.09) - - - - - - - - -
Reserved for Water 759,757.56 656,381.82 633,680.68 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29
Reserved for Waste Water
Reserved for Waste Water Carried Forward - 1,351,636.93 1,371,236.14 1,383,151.34 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71
Facilities Charges 3,645,777.78 31,772.54 31,772.54 31,772.54 - - - - - - - - -
Commercial WWTP Facility Charge 68,422.78 669.73 519.68 528.24 - - - - - - - - -
Undercollected capital funded by Ent and URS 64,927.00
Plus Bond Proceeds Paid for Bond Projects 1,060,424.49 15,542.58 1,280.00 3,444.50 - - - - - - - - -
Less Capital Project Invoices (Bond and Non-Bond) (2,143,106.57) (23,042.58) (1,280.00) (3,444.50) - - - - - - - - -
Less Bond Payments (Principal and Interest) (1,328,366.39) - - - - - - - - - - - -
Less Required Payment Reserves and I&S Reserves (67,085.79) (12,871.56) (12,877.02) (12,905.41) - - - - - - - - -
Plus Interest Earned 94,138.40 28.50 - - - - - - - - - - -
Due to Vendor (Current Invoice less current pmt) 230,916.25 7,500.00 - - - - - - - - - - -
Current Pmt to Vendor (274,411.02) - (7,500.00) - - - - - - - - - -
Reserved for Waste Water 1,351,636.93 1,371,236.14 1,383,151.34 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71
Reserved for Industrial Waste Water
Industrial Waste Balance Carried Forward (140,550.55) (133,953.02) (127,352.53) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04)
IWWTP FC 730,723.19 6,600.49 6,600.49 6,600.49 - - - - - - - - -
Commercial IWWTP Facility Charge 136,520.80 - - - - - - - - - - - -
Undercollected capital funded by Ent and URS (65,557.00)
Plus Bond Proceeds Paid for Bond Projects - - - - - - - - - - - - -
Less Capital Project Invoices (Bond and Non-Bond) (977,438.27) - - - - - - - - - - - -
Less Bond Payments (Principal and Interest) - - - - - - - - - - - - -
Less Required Payment Reserves and I&S Reserves - - - - - - - - - - - - -
Plus Interest Earned 33,419.84 (2.96) - - - - - - - - - - -
Due to Vendor (Current Invoice less current pmt) 196,144.83 - - - - - - - - - - - -
Current Pmt to Vendor - Non Bond Capital (194,363.94) - - - - - - - - - - - -
Reserved for Industrial Waste Water (140,550.55) (133,953.02) (127,352.53) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04)
Total Restricted Cash Reserved for Cap Systems 1,970,843.94 1,893,664.94 1,889,479.49 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96
Difference - - - - - - - - - - - - -
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2012 Wet Utilities Capital Program
October November December January February March April May June July August September Total
Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected Actual
FACILITY CHARGE
CONTRACT REVENUE
Water 47,722.51 47,722.51 47,722.51 - - - - - - - - - -
Waste Water 31,772.54 31,772.54 31,772.54 - - - - - - - - - -
Industrial Waste Water 6,600.49 6,600.49 6,600.49 - - - - - - - - - -
Monthly Facility Charge Income 86,095.54 86,095.54 86,095.54 - - - - - - - - - -
INVOICES
COMMERCIAL REVENUE
Water 1,691.10 588.18 511.54 - - - - - - - - - -
Waste Water 669.73 519.68 528.24 - - - - - - - - - -
Industrial Waste Water - - - - - - - - - - - - -
Monthly Commercial Income 2,360.83 1,107.86 1,039.78 - - - - - - - - - -
BOND CAPITAL INVOICE
Water -
Waste Water 15,542.58 1,280.00 3,444.50 -
Industrial Waste Water -
Total Monthly Capital Bond - Invoice 15,542.58 1,280.00 3,444.50 - - - - - - - - - -
NON- BOND CAPITAL INVOICE
Water 63,229.22 41,689.45 560.00 -
Waste Water 7,500.00 -
Industrial Waste Water -
Current URS Invoice - Non- Bond 70,729.22 41,689.45 560.00 - - - - - - - - - -
PAYMENTS
TOTAL BOND & NON-BOND CAPITAL SPENDING 86,271.80 42,969.45 4,004.50 - - - - - - - - - -
BOND CONSTRUCTION ACCOUNT - BOND CAPITAL INVOICE
Water -
Waste Water 14,636.00 7,990.00 -
Industrial Waste Water -
Current Payments From Constr. Cash 14,636.00 7,990.00 - - - - - - - - - - -
ENTERPRISE ACCOUNT - NON-BOND AND BOND CAPITAL INVOICE
Non- Bond Capital Pmts
Water 138,331.35 56,554.91 45,027.09 -
Waste Water 7,500.00 -
Industrial Waste Water -
Current Payments From Enterprise Cash 138,331.35 64,054.91 45,027.09 - - - - - - - - - -
Bond Capital Pmts
Water -
Waste Water 3,676.58 7,341.00 1,280.00 -
Industrial Waste Water -
Current Payments From Enterprise Cash 3,676.58 7,341.00 1,280.00 - - - - - - - - - -
TOTAL BOND & NON-BOND PAYMENTS 156,643.93 79,385.91 46,307.09 - - - - - - - - - -
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2012 Bond Invoices Paid by System
Cumulative October November December January February March April May June July August September Total
Thru 30 Sept 10 Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected
Monthly Expenditures by Program
Water Program
Expenditures from Bond Proceeds - Morgan Keegan (129,124.44) - - - - - - - - - - - - (129,124.44)
Expenditures from Bond Proceeds - Construction (978,626.35) - - - - - - - - - - - - (978,626.35)
Total Water Expenditures (1,107,750.79) - - - - - - - - - - - - (1,107,750.79)
Waste Water Program
Expenditures from Bond Proceeds - Morgan Keegan (129,124.44) - - - - - - - - - - - - (129,124.44)
Expenditures from Bond Proceeds - Construction (840,634.64) (15,542.58) (1,280.00) (3,444.50) - - - - - - - - - (860,901.72)
Total Waste Water Expenditures (969,759.08) (15,542.58) (1,280.00) (3,444.50) - - - - - - - - - (990,026.16)
Industrial Waste Water Program
Expenditures from Bond Proceeds - Morgan Keegan - - - - - - - - - - - - - -
Expenditures from Bond Proceeds - Construction - - - - - - - - - - - - - -
Total Industrial Waste Water Expenditures - - - - - - - - - - - - - -
Total Program Expenditures (2,077,509.87) (15,542.58) (1,280.00) (3,444.50) - - - - - - - - - (2,097,776.95)
Cumulative To date balance
Water Program Expenditures (1,107,750.79) (1,107,750.79) (1,107,750.79) (1,107,750.79) (1,107,750.79) (1,107,750.79) (1,107,750.79) (1,107,750.79) (1,107,750.79) (1,107,750.79) (1,107,750.79) (1,107,750.79) (1,107,750.79)
Waste Water Program Expenditures (969,759.08) (985,301.66) (986,581.66) (990,026.16) (990,026.16) (990,026.16) (990,026.16) (990,026.16) (990,026.16) (990,026.16) (990,026.16) (990,026.16) (990,026.16)
IWW Program Expenditures - - - - - - - - - - - - -
Total Cumulative Expenditures (2,077,509.87) (2,093,052.45) (2,094,332.45) (2,097,776.95) (2,097,776.95) (2,097,776.95) (2,097,776.95) (2,097,776.95) (2,097,776.95) (2,097,776.95) (2,097,776.95) (2,097,776.95) (2,097,776.95)
Percentage of Expenditures
Water Program Expenditures 53.32% 52.93% 52.89% 52.81% 52.81% 52.81% 52.81% 52.81% 52.81% 52.81% 52.81% 52.81% 52.81%
Waste Water Program Expenditures 46.68% 47.07% 47.11% 47.19% 47.19% 47.19% 47.19% 47.19% 47.19% 47.19% 47.19% 47.19% 47.19%
IWW Program Expenditures 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
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2012 Interest Earned on FC Balance
Cumulative October November December January February March April May June July August September
Thru 30 Sept 10 Actual Actual Actual Projected Projected Projected Projected Projected Projected Projected Projected Projected
APY Earned 0.0253% 0.0000% 0.0000%
FC Cash Balance
Water 759,757.56 656,381.82 633,680.68 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29 622,445.29
Waste Water 1,351,636.93 1,371,236.14 1,383,151.34 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71 1,402,546.71
Industrial Waste Water (140,550.55) (133,953.02) (127,352.53) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04) (120,752.04)
Total Cash Balance 1,970,843.94 1,893,664.94 1,889,479.49 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96 1,904,239.96
Interest Earned
Water 16.02 - - - - - - - - - - -
Waste Water 28.50 - - - - - - - - - - -
Industrial Waste Water (2.96) - - - - - - - - - - -
Monthly Interest Earned on FC 41.56 - - - - - - - - - - -
Interest Per Bank Statement 100.07 6.55 12.51
Accrued Interest
Total Interest 100.07 6.55 12.51 - - - - - - - - -
Interest to Enterprise Unrestricted Cash 58.51 6.55 12.51 - - - - - - - - -
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$8,000,000
Red River Redevelopment
Water and Sewer System Revenue
Taxable Series 2004
Debt Service Schedule
Date Principal Coupon Interest Total P+I
Principal
Balance
8/1/2005 99,816.44 99,816.44 8,000,000.00
2/1/2006 204,170.00 204,170.00 8,000,000.00
8/1/2006 305,000.00 3.25% 204,170.00 509,170.00 7,695,000.00
2/1/2007 199,213.75 199,213.75 7,695,000.00
8/1/2007 320,000.00 3.65% 199,213.75 519,213.75 7,375,000.00
2/1/2008 193,373.75 193,373.75 7,375,000.00
8/1/2008 335,000.00 4.00% 193,373.75 528,373.75 7,040,000.00
2/1/2009 186,673.75 186,673.75 7,040,000.00
8/1/2009 355,000.00 4.25% 186,673.75 541,673.75 6,685,000.00
2/1/2010 179,130.00 179,130.00 6,685,000.00
8/1/2010 370,000.00 4.45% 179,130.00 549,130.00 6,315,000.00
2/1/2011 170,897.50 170,897.50 6,315,000.00
8/1/2011 390,000.00 4.70% 170,897.50 560,897.50 5,925,000.00
2/1/2012 161,732.50 161,732.50 5,925,000.00
8/1/2012 410,000.00 4.85% 161,732.50 571,732.50 5,515,000.00
2/1/2013 151,790.00 151,790.00 5,515,000.00
8/1/2013 435,000.00 5.00% 151,790.00 586,790.00 5,080,000.00
2/1/2014 140,915.00 140,915.00 5,080,000.00
8/1/2014 455,000.00 5.10% 140,915.00 595,915.00 4,625,000.00
2/1/2015 129,312.50 129,312.50 4,625,000.00
8/1/2015 480,000.00 5.25% 129,312.50 609,312.50 4,145,000.00
2/1/2016 116,712.50 116,712.50 4,145,000.00
8/1/2016 505,000.00 5.35% 116,712.50 621,712.50 3,640,000.00
2/1/2017 103,203.75 103,203.75 3,640,000.00
8/1/2017 530,000.00 5.45% 103,203.75 633,203.75 3,110,000.00
2/1/2018 88,761.25 88,761.25 3,110,000.00
8/1/2018 560,000.00 5.55% 88,761.25 648,761.25 2,550,000.00
2/1/2019 73,221.25 73,221.25 2,550,000.00
8/1/2019 590,000.00 5.60% 73,221.25 663,221.25 1,960,000.00
2/1/2020 56,701.25 56,701.25 1,960,000.00
8/1/2020 620,000.00 5.70% 56,701.25 676,701.25 1,340,000.00
2/1/2021 39,031.25 39,031.25 1,340,000.00
8/1/2021 655,000.00 5.80% 39,031.25 694,031.25 685,000.00
2/1/2022 20,036.25 20,036.25 685,000.00
8/1/2022 685,000.00 5.85% 20,036.25 705,036.25 -
Total 8,000,000.00 4,529,568.94 12,529,568.94
Yield Statistics
Bond Year Dollars 83,640.56
Average Life
10.455 Years
Average Coupon 5.4155175%
Net Interest Cost (NIC) 5.4155175%
True Interest Cost (TIC) 5.3719911%
Bond Yield for Arbitrage Purposes 5.3719911%
All Inclusive Cost (AIC) 5.3719911%
IRS Form 8038
Net Interest Cost (NIC) 5.4155175%
Weighted Average Maturity
10.455 Years
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