Annual Comprehensive Financial Report 2021

More documents

Recommendations

Info

2018 2019 2020 $ 823,175 $ 921,228 $ 949,953 613,494 690,759 784,454 147,850 - - ( 33,117) 105,672 ( 154,487) - 10,591 - ( 263,334) ( 352,505) ( 356,560) 1,288,068 1,375,745 1,223,360 8,661,033 9,949,101 11,324,846 $ 9,949,101 $ 11,324,846 $ 12,548,206 $ 409,733 $ 516,348 $ 540,005 401,432 503,403 532,399 ( 237,587) 1,274,464 773,124 ( 263,334) ( 352,505) ( 356,560) ( 4,585) ( 7,186) ( 4,990) ( 240) ( 215) ( 195) 305,419 1,934,309 1,483,783 7,920,293 8,225,712 10,160,021 $ 8,225,712 $ 10,160,021 $ 11,643,804 $ 1,723,389 $ 1,164,825 $ 904,402 82.68% 89.71% 92.79% $ 6,386,149 $ 7,191,473 $ 7,605,707 26.99% 16.20% 11.89% 48
CITY OF RED OAK, TEXAS SCHEDULE OF EMPLOYER CONTRIBUTIONS TEXAS MUNICIPAL RETIREMENT SYSTEM (TMRS) FOR THE YEAR ENDED SEPTEMBER 30, <strong>2021</strong> Fiscal year ended September 30, 2015 2016 2017 Actuarially determined contribution $ 220,318 $ 270,906 $ 325,033 Contribution in relation to the actuarially determined contribution 220,318 270,906 325,033 Contribution deficiency - - - Covered payroll $ 4,719,828 $ 5,113,962 $ 5,631,270 Contributions as a percentage of covered payroll 4.67% 5.30% 5.77% Notes to Schedule Valuation date Actuarially determined contribution rates are calculated Methods and assumptions used to determine contribution rates: Actuarial Cost Method Amortization Method Remaining Amortization Period Asset Valuation Method Inflation Salary increases Investment rate of return Retirement Age Entry age normal Level percentage of payroll, closed 24 years 10 year smoothed market: 12% soft corridor 2.5% 3.50% to 11.5% including inflation 6.75% Experienced-based table of rates that are specific to the City's plan of benefits. Last updated for the 2019 valuation pursuant to an experience study of the period 2014-2018. Mortality Other information: Notes Post-retirement:2019 Municipal Retirees of Texas Mortality Tables. The rates are projected on a fully generational basis with scale UMP. Pre-retirement: PUB(10) mortality tables, with the Public Safety table used for males and General Employee table used for females. The rates are projected on a fully generational basis with scale UMP. There were no benefit changes during the year. 49
Page 1:
City of Red Oak, Texas Annual Compr
Page 4 and 5:
Required Supplementary Information
Page 6 and 7:
THIS PAGE LEFT BLANK INTENTIONALLY
Page 8 and 9:
Page 10 and 11:
THE CITY The City of Red Oak (the
Page 12 and 13:
at the intersection of State Highwa
Page 14 and 15:
OTHER INFORMATION Independent Audit
Page 16:
CITIZENS City Attorney Robert Hager
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Other Matters Required Supplementar
Page 25 and 26: Both of the government-wide financi
Page 27 and 28: Changes in Net Position Governmenta
Page 29 and 30: Governmental Activities Business-ty
Page 31 and 32: This requirement was met, and excee
Page 33 and 34: THIS PAGE LEFT BLANK INTENTIONALLY
Page 35 and 36: CITY OF RED OAK, TEXAS STATEMENT OF
Page 37 and 38: CITY OF RED OAK, TEXAS BALANCE SHEE
Page 43 and 44: CITY OF RED OAK, TEXAS RECONCILIATI
Page 51 and 52: Governmental fund financial stateme
Page 53 and 54: The costs of normal maintenance and
Page 55 and 56: In the fund financial statements, g
Page 57 and 58: IV. RECEIVABLES The City’s receiv
Page 59 and 60: Bond Reserve Fund For the Industria
Page 61 and 62: Annual debt service requirements fo
Page 63 and 64: A summary of plan provisions for th
Page 65 and 66: The City’s net pension liability
Page 67 and 68: Discount Rate The SDBF program is t
Page 69 and 70: XII. TAX ABATEMENTS The city enters
Page 73 and 74: CITY OF RED OAK, TEXAS SCHEDULE OF
Page 75: CITY OF RED OAK, TEXAS SCHEDULE OF
Page 81 and 82: CITY OF RED OAK, TEXAS COMBINING BA
Page 83 and 84: CITY OF RED OAK, TEXAS COMBINING ST
Page 91 and 92: CITY OF RED OAK, TEXAS NET POSITION
Page 93 and 94: CITY OF RED OAK, TEXAS CHANGES IN N
Page 95 and 96: CITY OF RED OAK, TEXAS CHANGES IN N
Page 97 and 98: CITY OF RED OAK, TEXAS FUND BALANCE
Page 99 and 100: CITY OF RED OAK, TEXAS CHANGES IN F
Page 101 and 102: CITY OF RED OAK, TEXAS ASSESSED VAL
Page 103 and 104: CITY OF RED OAK, TEXAS DIRECT AND O
Page 107 and 108: CITY OF RED OAK, TEXAS RATIOS OF GE
Page 111 and 112: CITY OF RED OAK, TEXAS RATIOS OF GE
Page 113 and 114: CITY OF RED OAK, TEXAS DIRECT AND O
Page 115 and 116: CITY OF RED OAK, TEXAS PLEDGE-REVEN
Page 119 and 120: CITY OF RED OAK, TEXAS FULL-TIME EQ
Page 121 and 122: CITY OF RED OAK, TEXAS OPERATING IN
Page 123 and 124: CITY OF RED OAK, TEXAS CAPITAL ASSE
Page 127 and 128:
Compliance and Other Matters As par
Page 129:
show all

Annual Comprehensive Financial Report 2021

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?