THIS PAGE LEFT BLANK INTENTIONALLY
CITY OF RED OAK, TEXAS STATEMENT OF NET POSITION SEPTEMBER 30, <strong>2020</strong> Primary Government Governmental Business-Type Activities Activities Total ASSETS Cash and cash equivalents $ 3,889,719 $ 598,360 $ 4,488,079 Investments 20,019,042 2,346,500 22,365,542 Accounts receivable (net) 2,085,551 1,137,785 3,223,336 Inventory 4,182 23,768 27,950 Restricted assets: Cash 549,916 1,363,261 1,913,177 Investments 4,302,659 368,721 4,671,380 Land held for resale 10,524,304 - 10,524,304 Capital assets, net of accumulated depreciation: Non-depreciable 4,824,040 1,646,232 6,470,272 Depreciable 19,543,657 14,970,442 34,514,099 Total Assets 65,743,070 22,455,069 88,198,139 DEFERRED OUTFLOWS OF RESOURCES Deferred charge on refunding - 510,771 510,771 Pension related 464,434 67,224 531,658 OPEB related 42,356 3,180 45,536 Total Deferred Outflows of Resources 506,790 581,175 1,087,965 LIABILITIES Accounts payable 1,124,384 112,593 1,236,977 Accrued liabilities 471,076 68,751 539,827 Accrued interest payable 156,371 60,898 217,269 Customer deposits payable 3,800 338,869 342,669 Noncurrent liabilities: Due within one year Long-term debt 2,022,744 1,398,218 3,420,962 Due in more than one year Long-term debt 29,249,767 15,781,308 45,031,075 Net pension liability 998,157 166,668 1,164,825 Total OPEB liability 183,671 30,668 214,339 Total Liabilities 34,209,970 17,957,973 52,167,943 DEFERRED INFLOWS OF RESOURCES Pension related 283,766 47,382 331,148 OPEB related 11,497 1,694 13,191 Total Deferred Inflows of Resources 295,263 49,076 344,339 NET POSITION Net investment in capital assets 3,113,430 833,237 3,946,667 Restricted for: Court security 34,519 - 34,519 Court technology 3,293 - 3,293 Public safety 73,534 - 73,534 Culture and recreation 395,547 - 395,547 Industrial development 12,424,092 - 12,424,092 Economic development 10,143,107 - 10,143,107 Capital projects 256,527 553,249 809,776 Unrestricted 5,300,578 3,642,709 8,943,287 Total Net Position $ 31,744,627 $ 5,029,195 $ 36,773,822 The notes to the financial statements are an integral part of these financial statements. 11
- Page 1 and 2: City of Red Oak, Texas Comprehensiv
- Page 3 and 4: Required Supplementary Information
- Page 5 and 6: THIS PAGE LEFT BLANK INTENTIONALLY
- Page 7 and 8: THIS PAGE LEFT BLANK INTENTIONALLY
- Page 9 and 10: THE CITY The City of Red Oak (the
- Page 11 and 12: INDUSTRY During 2020, Compass Datac
- Page 13 and 14: In order to be awarded a Certificat
- Page 15 and 16: Government Finance Officers Associa
- Page 18 and 19: THIS PAGE LEFT BLANK INTENTIONALLY
- Page 20 and 21: THIS PAGE LEFT BLANK INTENTIONALLY
- Page 22 and 23: Other Matters Required Supplementar
- Page 24 and 25: Both of the government-wide financi
- Page 26 and 27: Changes in Net Position Governmenta
- Page 28 and 29: Governmental Activities Business-ty
- Page 30 and 31: Capital Projects Capital project fu
- Page 34 and 35: CITY OF RED OAK, TEXAS STATEMENT OF
- Page 36 and 37: CITY OF RED OAK, TEXAS BALANCE SHEE
- Page 38 and 39: THIS PAGE LEFT BLANK INTENTIONALLY
- Page 40 and 41: CITY OF RED OAK, TEXAS STATEMENT OF
- Page 42 and 43: CITY OF RED OAK, TEXAS RECONCILIATI
- Page 44 and 45: CITY OF RED OAK, TEXAS STATEMENT OF
- Page 46 and 47: CITY OF RED OAK, TEXAS STATEMENT OF
- Page 48 and 49: Governmental fund financial stateme
- Page 50 and 51: The costs of normal maintenance and
- Page 52 and 53: Committed fund balance includes fun
- Page 54 and 55: V. CAPITAL ASSETS Capital asset act
- Page 56 and 57: VII. LONG-TERM DEBT Long-term debt
- Page 58 and 59: Bonds payable currently outstanding
- Page 60 and 61: Revenue Bonds - Governmental Activi
- Page 62 and 63: The actuarial assumptions were deve
- Page 64 and 65: The City reported $384,378 as defer
- Page 66 and 67: OPEB Expense, Deferred Outflows, an
- Page 68 and 69: THIS PAGE LEFT BLANK INTENTIONALLY
- Page 70 and 71: CITY OF RED OAK, TEXAS SCHEDULE OF
- Page 72 and 73: THIS PAGE LEFT BLANK INTENTIONALLY
- Page 74 and 75: CITY OF RED OAK, TEXAS SCHEDULE OF
- Page 76 and 77: CITY OF RED OAK, TEXAS SCHEDULE OF
- Page 78 and 79: CITY OF RED OAK, TEXAS SCHEDULE OF
- Page 80 and 81: THIS PAGE LEFT BLANK INTENTIONALLY
- Page 82 and 83:
CITY OF RED OAK, TEXAS COMBINING BA
- Page 84 and 85:
CITY OF RED OAK, TEXAS SCHEDULE OF
- Page 86 and 87:
THIS PAGE LEFT BLANK INTENTIONALLY
- Page 88 and 89:
THIS PAGE LEFT BLANK INTENTIONALLY
- Page 90 and 91:
CITY OF RED OAK, TEXAS NET POSITION
- Page 92 and 93:
CITY OF RED OAK, TEXAS CHANGES IN N
- Page 94 and 95:
CITY OF RED OAK, TEXAS CHANGES IN N
- Page 96 and 97:
CITY OF RED OAK, TEXAS FUND BALANCE
- Page 98 and 99:
CITY OF RED OAK, TEXAS CHANGES IN F
- Page 100 and 101:
CITY OF RED OAK, TEXAS ASSESSED VAL
- Page 102 and 103:
CITY OF RED OAK, TEXAS DIRECT AND O
- Page 104 and 105:
THIS PAGE LEFT BLANK INTENTIONALLY
- Page 106 and 107:
CITY OF RED OAK, TEXAS RATIOS OF GE
- Page 108 and 109:
THIS PAGE LEFT BLANK INTENTIONALLY
- Page 110 and 111:
CITY OF RED OAK, TEXAS RATIOS OF GE
- Page 112 and 113:
CITY OF RED OAK, TEXAS DIRECT AND O
- Page 114 and 115:
CITY OF RED OAK, TEXAS PLEDGE-REVEN
- Page 116 and 117:
THIS PAGE LEFT BLANK INTENTIONALLY
- Page 118 and 119:
CITY OF RED OAK, TEXAS FULL-TIME EQ
- Page 120 and 121:
CITY OF RED OAK, TEXAS OPERATING IN
- Page 122 and 123:
THIS PAGE LEFT BLANK INTENTIONALLY
- Page 124 and 125:
THIS PAGE LEFT BLANK INTENTIONALLY
- Page 126 and 127:
Compliance and Other Matters As par
- Page 128:
THIS PAGE LEFT BLANK INTENTIONALLY