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					ENTERPRISE FUNDS

Enterprise Funds
Enterprise funds are established to account for City operations that are financed and operated in a manner similar to private business enterprises where the cost of providing goods or services to the general public is financed primarily through user charges. Airport System — This fund is used to account for the operations of the City’s Airport System. The system is comprised of George Bush Intercontinental Airport, William P. Hobby Airport and Ellington Field. Convention and Entertainment Facilities — This fund is used to account for the operation of the City’s four major entertainment centers and two City-owned parking garages. These centers include the following: Jesse H. Jones Hall; Bayou Place; Gus S. Wortham Center; George R. Brown Convention Center and the Tranquility Park and Theater District parking garages. Water and Sewer System — This fund is used to account for the production and transmission of water and the treatment of wastewater for City residents and businesses as well as for other governmental entities located in the Houston area. Nonmajor Enterprise Funds – The Houston Area Water Corporation fund did not meet the established criteria for major fund status. The Houston Area Water Corporation was organized to provide water to the City of Houston for resale to customers located wholly or partially in Area Three of the Harris-Galveston Coastal Subsidence District.

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CITY OF HOUSTON, TEXAS AIRPORT SYSTEM Statement of Net Assets June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

2003 Assets Cash Equity in pooled cash and investments Receivables, net of allowances Accounts receivable Due from other funds Due from other governments Inventory Prepaid items Total current assets Noncurrent Assets Restricted assets Investments Due from other governments - grants Total restricted assets Other assets, net of depreciation Other receivables Total other assets Capital assets Land Buildings, improvements and equipment Construction in progress Total capital assets Less accumulated depreciation Net capital assets Total noncurrent assets Total assets $ $ $

2002

-

14,772 16,040 22 3,565 1,163 35,562

10,431 17,565 208 350 3,620 886 33,060

1,083,298 3,421 1,086,719

716,047 7,264 723,311

870 870

-

130,959 2,140,240 742,295
3,013,494 (756,208) 2,257,286 3,344,875 3,380,437 $

129,409 1,766,574 647,910
2,543,893 (697,819) 1,846,074 2,569,385 2,602,445 (Continued)

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CITY OF HOUSTON, TEXAS AIRPORT SYSTEM Statement of Net Assets June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

2003 Liabilities Current Liabilities Accounts payable Accrued payroll liabilities Contracts and retainages payable Due to other funds Advances and deposits Claims and judgments Compensated absences Total current liabilities Current liabilities payable from restricted assets Revenue bonds payable Accrued interest payable Advances and deposits Construction billings and retainages Total current liabilities payable from restricted assets Long-term liabilities Revenue bonds payable, net Compensated absences Commercial paper Arbitrage rebate Net pension liability Total long-term liabilities Total liabilities Net assets Invested in capital assets, net of related debt Restricted net assets Restricted for debt service Restricted for renewal and replacement Restricted for maintenance and operations Restricted for capital improvements Other restricted Unrestricted Total net assets $

2002

$

5,994 1,905 192 344 2,018 6,708 105 17,266

$

3,119 1,681 190 834 2,428 5,921 65 14,238

17,985 49,072 271 94,786 162,114

4,380 37,170 261 74,083 115,894

2,149,737 6,363 5,626 7,970 2,169,696 2,349,076

1,455,094 6,076 20,000 11,110 4,859 1,497,139 1,627,271

648,027 84,529 13,572 28,123 251,061 2,092 3,957 1,031,361 $

688,392 32,281 13,819 28,035 202,808 1,952 7,887 975,174

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CITY OF HOUSTON, TEXAS AIRPORT SYSTEM Statement of Revenues, Expenses and Changes in Net Assets For the Year Ended June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

2003

2002

Operating Revenues Landing area fees Rentals, building and ground area Parking Concession Other Total operating revenue Operating Expenses Maintenance and operating Depreciation and amortization Total operating expenses Operating income Nonoperating revenue (expenses) Investment income Other revenue Loss on disposal of assets Other expenses Interest on long-term debt Arbitrage expense recovery Total Nonoperating revenues (expenses) Income before contributions Contributions

$

51,162 91,801 50,103 45,167 2,534 240,767

$

50,826 84,752 46,955 42,604 2,318 227,455

154,541 61,720 216,261 24,506

142,950 60,088 203,038 24,417

30,278 681 (616) (49,678) 5,489 (13,846) 10,660 45,527

37,629 942 (17) (44,931) 783 (5,594) 18,823 51,286

Change in net assets Total net assets, July 1 (As Restated - see Note 2C) Total net assets, June 30 $

56,187 975,174 1,031,361 $

70,109 905,065 975,174

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CITY OF HOUSTON, TEXAS AIRPORT SYSTEM Statement of Cash Flows For the Year Ended June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands 2003 Cash flows from operating activities Receipts from customers Payments to employees Payments to suppliers Internal activity-payments to other funds Claims paid Other revenues Net cash provided by operating activates Cash flows from investing activities Interest income on investments Purchase of investments Proceeds from sale of investments Net cash provided by (used for) investing activities Cash flows from capital and related financing activities Retirement of revenue bonds Refunded bonds Proceeds from issuance of revenue bonds Retirement of commercial paper Proceeds from issuance of commercial paper Interest expense on revenue bonds Advances and deposits on construction Contributed capital Acquisition of property, plant and equipment Net cash provided by (used for) capital and related financing activities Net increase in cash and cash equivalents Cash and cash equivalents, July 1 Cash and cash equivalents, June 30 Non cash transactions Unrealized gain on investments Contributions Capitalized interest expense Loss on disposal of assets Total non cash transactions Reconciliation of operating income to net cash provided by operating activities Operating income Adjustments to reconcile operating income to net cash provided by operating activities Depreciation and amortization Other revenues Changes in assets and liabilities Accounts receivable Due from other funds Inventory Accounts payable Accrued payroll liabilities Due to other funds Advances and deposits Claims for workers' compensation Compensated absences Other long-term liabilities Net cash provided by operating activities $ $ 240,514 (48,852) (60,028) (35,892) (1,601) 681 94,822 $ 2002 228,163 (45,503) (55,311) (37,312) (1,410) 942 89,569

29,006 (899,392) 533,414 (336,972)

39,593 (270,437) 554,444 323,600

(4,380) 710,894 (30,000) 10,000 (87,853) 10 42,791 (394,971) 246,491 4,341 10,431 14,772 $

(19,460) (64,467) 63,757 20,000 (81,479) 13 48,407 (378,061) (411,290) 1,879 8,552 10,431

$

(1,272) 6,929 (50,077) (616) (45,036)

$

1,964 (31,413) (17) (29,466)

$

24,506

$

24,417

61,720 681 1,525 186 (222) 2,877 224 (490) (410) 787 327 3,111 94,822

60,088 942 55 (208) (540) (656) 150 (174) 721 9 (94) 4,859 89,569

$

$

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CITY OF HOUSTON, TEXAS CONVENTION & ENTERTAINMENT Statement of Net Assets June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

2003 Assets Equity in pooled cash and investments Receivables, net of allowances Accounts receivable Hotel occupancy tax receivable Due from other funds Total current assets Noncurrent Assets Restricted cash and cash equivalents Amounts due from component units Investments Deferred charges for issuance cost Total restricted assets Other assets Garage Rights Total other assets Capital assets Land Buildings, improvements and equipment Construction in progress Total capital assets Less accumulated depreciation Net capital assets Total Noncurrent assets Total assets $

2002

$

23,676 130 10,845 178 34,829

$

28,408 1,357 10,075 34 39,874

315,493 228,772 4,963 549,228

315,773 441,997 5,081 762,851

13,144 13,144

13,144 13,144

99,091 272,741 171,917
543,749 (99,023) 444,726 1,007,098 1,041,927 $

65,694 272,741 61,640
400,075 (93,312) 306,763 1,082,758 1,122,632 (Continued)

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CITY OF HOUSTON, TEXAS CONVENTION & ENTERTAINMENT Statement of Net Assets June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

2003 Liabilities Current Liabilities Accounts payable Accrued payroll liabilities Due to other funds Due to other governments Advances and deposits Claims and judgments Compensated absences Total current liabilities Current liabilities payable from restricted assets Accounts payable Revenue bonds payable Accrued interest payable Advances and deposits Construction billings and retainages Due to other funds Due to Component Units Total current liabilities payable from restricted assets Long-term liabilities Revenue bonds payable Commercial paper Net pension liability Deferred Revenue Total long-term liabilities Total liabilities Net Assets Invested in capital assets, net of related debt Restricted net assets Restricted for debt service Restricted for renewal and replacement Restricted for maintenance and operations Restricted for capital improvements Other restricted Unrestricted (deficit) Total net assets

2002

$

2,114 215 41 12 395 53 557 3,387

$

4,257 183 2,427 16 552 38 533 8,006

17,430 6,265 6,338 238 5,747 440 133,729 170,187

2,828 5,955 6,478 238 1,793 873 268,779 286,944

637,081 22,500 893 11,875 672,349 845,923

636,347 545 636,892 931,842

87,741 30,201 186,014 (107,952) 196,004

(72,544) 20,457 550 9,118 287,504 193 (54,488) 190,790

$

$

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CITY OF HOUSTON, TEXAS CONVENTION & ENTERTAINMENT Statement of Revenue, Expenses and Changes in Net Assets For the Year Ended June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

2003 Operating Revenues Parking Concession Rental Total operating revenue Operating Expenses Maintenance and operating Depreciation and amortization Total operating expenses Operating (loss) Nonoperating revenue (expenses) Investment income Hotel occupancy tax Other revenue Other expenses Interest on long-term debt Total Nonoperating revenues (expenses) Income (loss) before transfers Transfers in Total transfers Change in net assets Total net assets, July 1 (As Restated - see Note 2C) Total net assets, June 30 $

2002

$

10,052 2,178 4,780 17,010

$

7,834 2,350 5,337 15,521

24,830 13,274 38,104 (21,094)

21,721 12,406 34,127 (18,606)

14,311 43,169 713 (19,305) (19,347) 19,541 (1,553) 6,767 6,767 5,214 190,790 196,004 $

23,766 43,452 (24,193) (28,410) 14,615 (3,991)

5,623
5,623 1,632 189,158 190,790

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CITY OF HOUSTON, TEXAS CONVENTION & ENTERTAINMENT Statement of Cash Flows For the Year Ended June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands 2003 Cash flows from operating activities Receipts from customers Payments to employees Payments to suppliers Internal activity-payments to other funds Claims paid Due from other governments Other revenues Other expenses Payments to component units Net cash used for operating activities Cash flows from investing activities Interest income on investments Purchase of investments Proceeds from sale of investments Net cash provided by investing activities Cash flows from capital and related financing activities Retirement of revenue bonds Proceeds from issuance of commercial paper Interest expense on revenue bonds Interest expense on commercial paper Acquisition of property, plant and equipment Net cash used for capital and related financing activities Cash flows from noncapital financing activities Promotional contract paid from hotel occupancy tax revenues to component units Transfers Payments to Hotel Corporation Hotel occupancy tax revenue Net cash provided by noncapital financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, July 1 Cash and cash equivalents, June 30 $ $ 18,085 (5,123) (2,493) (3,313) (39) (4) 713 (11,257) (2,172) (5,603) $ 2002 15,481 (4,196) (6,981) 555 (52) (1,568) (15,739) (2,172) (14,672)

15,306 (102,262) 314,492 227,536

22,753 (465,942) 544,626 101,437

(5,955) 22,500 (19,369) (148) (131,800) (134,772)

(24,151) (39,843) (63,994)

(7,900) 6,767 (133,159) 42,399 (91,893) (4,732) 28,408 23,676 $

(8,454) (10,183) (36,629) 45,196 (10,070) 12,701 15,707 28,408 (Continued)

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CITY OF HOUSTON, TEXAS CONVENTION & ENTERTAINMENT Statement of Cash Flows For the Year Ended June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands 2003 Non cash transactions Contributions of capital assets Capitalized interest expense Unrealized gain (loss) on investments Total non cash transactions Reconciliation of operating income to net cash used by operating activities Operating loss Adjustments to reconcile operating income to net cash provided by operating activities Depreciation and amortization Other revenues Other expenses Changes in assets and liabilities Accounts receivable Due from other funds Accounts payable Accrued payroll liabilities Due to other funds Due to other governments Advances and deposits Construction and retainages payable Claims for workers' compensation Compensated absences Due to component units Other long-term liabilities Net cash used in operating activities 11,875 (2,253) (995) 8,627 2002 1,013 1,013

$

$

$

(21,094)

$

(18,606)

13,274 713 (11,257) 1,227 (145) 12,459 30 (2,819) (4) (157) 3,954 15 24 (2,172) 349 (5,603)

12,406 (15,739) 125 968 3,750 12 (69) (1,568) (172) 1,558 27 (80) 2,172 544 (14,672)

$

$

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CITY OF HOUSTON, TEXAS

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CITY OF HOUSTON, TEXAS WATER AND SEWER SYSTEM FUND Statement of Net Assets June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

2003 Assets Equity in pooled cash and investments Receivables, net of allowances Accounts receivable Due from other funds Inventory Total current assets Noncurrent Assets Restricted cash and cash equivalents Investments Assessments receivable Amounts held by other governments Deferred charges for issuance cost Total restricted assets Other assets Water rights, net of depreciation Total other assets Capital assets Land Buildings, improvements and equipment Plants, lines and rights Construction in progress Total capital assets Less accumulated depreciation Plants, lines and rights Less accumulated depreciation Net capital assets Total noncurrent assets Total assets $

2002

$

67,552 62,478 51 6,694 136,775

$

71,182 62,039 1,331 8,083 142,635

512,480 101 8,268 34,359 555,208

548,743 103 8,368 35,133 592,347

207,315 207,315

206,900 206,900

98,842 208,438 6,360,112 704,315
7,371,707

87,744 200,546 5,853,802 865,003
7,007,095

(3,099,175)
(3,099,175) 4,272,532 5,035,055 5,171,830 $

(2,916,433)
(2,916,433) 4,090,662 4,889,909

5,032,544 (Continued)

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CITY OF HOUSTON, TEXAS WATER AND SEWER SYSTEM FUND Statement of Net Assets June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

2003 Liabilities Current Liabilities Accounts payable Accrued payroll liabilities Accrued interest payable Contracts and retainages payable Due to other funds Due to other governments Claims and judgments Compensated absences Total current liabilities Current liabilities payable from restricted assets Revenue bonds payable Accrued interest payable Advances and deposits Construction billings and retainages Due to other funds Total current liabilities payable from restricted assets Long-term liabilities Revenue bonds payable Compensated absences Contracts payable Commercial paper Net pension liability Total long-term liabilities Total liabilities Net Assets Invested in capital assets, net of related debt Restricted net assets Restricted for debt service Restricted for renewal and replacement Restricted for maintenance and operations Restricted for capital improvements Unrestricted (deficit) Total net assets

2002

$

27,952 4,295 801 16,504 631 340 4,545 3,090 58,158

$

9,004 3,604 852 15,097 8,682 5,478 437 43,154

54,528 14,128 23,621 39,829 229 132,335

43,183 14,390 21,840 38,239 3,514 121,166

3,509,688 18,605 245,287 415,250 15,282 4,204,112 4,394,605

3,557,000 21,666 237,853 120,000 9,317 3,945,836 4,110,156

332,794 35,436 349,864 25,796 33,335 777,225

616,121 29,083 363,436 23,983 87,943 (198,178) 922,388

$

$

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CITY OF HOUSTON, TEXAS WATER AND SEWER SYSTEM FUND Statement of Revenues, Expenses and Changes in Net Assets For the Year Ended June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

2003 Operating Revenues Water/Sewer Billing Total operating revenue Operating Expenses Maintenance and operating Depreciation and amortization Total operating expenses Operating income Nonoperating revenue (expenses) Investment income Other revenue Loss on disposal of assets Other expenses Interest on long-term debt Total Nonoperating revenues (expenses) Income (loss) before contributions and transfers Contributions Transfers out other funds Transfers out debt service Total transfers Change in net assets Total net assets, July 1 (As Restated - see Note 2C) Total net assets, June 30 $ $ 539,317 539,317 250,226 233,401 483,627 55,690 24,043 26,894 (722) (165,509) (115,294) (59,604) 7,791 (69,539) (23,811) (93,350) (145,163) 922,388 777,225 $ $

2002 543,396 543,396 245,943 228,147 474,090 69,306 33,703 32,368 (9,708) (164,482) (108,119) (38,813) 27,001 (68,961) (36,479) (105,440) (117,252) 1,039,640 922,388

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CITY OF HOUSTON, TEXAS WATER AND SEWER SYSTEM FUND Statement of Cash Flows For the Year Ended June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands 2003 Cash flows from operating activities Receipts from customers Payments to employees Payments to suppliers Internal activity-payments to other funds Claims paid Other revenues Net cash provided by operating activates Cash flows from investing activities Interest income on investments Purchase of investments Proceeds from sale of investments Net cash provided by investing activities Cash flows from capital and related financing activities Retirement of revenue bonds Proceeds received - Allen's Creek Proceeds from issuance of revenue bonds Retirement of commercial paper Proceeds of commercial paper Interest expense on revenue bonds Interest expense on commercial paper Interest expense on contracts payable Retirement of contractual obligations Contributed capital Acquisition of property, plant and equipment Net cash used for capital and related financing activities Cash flows from noncapital financing activities Transfers to debt service fund Transfers to other funds Net cash used in noncapital financing activities Net decrease in cash and cash equivalents Cash and cash equivalents, July 1 Cash and cash equivalents, June 30 Non cash transactions Transfer to other funds Unrealized gain on investments Contributions Capitalized interest expense Loss on disposal of assets Total non cash transactions Reconciliation of operating income to net cash provided by operating activities Operating income Adjustments to reconcile operating income to net cash provided by operating activities Depreciation and amortization Other revenues Due to other fund non-cash transfer Changes in assets and liabilities Accounts receivable Due from other funds Due from other governments Inventory Accounts payable Accrued payroll liabilities Due to other funds Advances and deposits Claims for workers' compensation Compensated absences Other long-term liabilities Net cash provided by operating activities $ 14,630 (613,096) 669,568 71,102 33,703 (621,441) 659,371 71,633 $ 540,659 (103,878) (106,524) (17,190) (3,314) 26,894 336,647 $ 2002 542,100 (90,556) (118,981) (11,708) (1,896) 32,368 351,327

(411,910) 14,000 329,936 (4,750) 300,000 (147,736) (1,879) (16,208) (16,170) 8,132 (371,444) (318,029)

(331,487) 717,376 (360,000) 180,000 (140,562) (8,131) (17,547) (15,662) 23,852 (380,841) (333,002) (36,479) (58,544) (95,023) (5,065) 76,247 $ 71,182

(23,811) (69,539) (93,350) (3,630) 71,182 67,552

$

1,439 (13,062) (722) (12,345)

$

7,974 (9,708) (1,734)

$

55,690

$

69,306

233,401 26,894 (439) 1,280 99 1,389 18,948 691 (7,711) 1,781 (933) (408) 5,965 336,647

228,147 32,368 (10,417) (2,121) 10,170 13,281 985 386 1,325 (840) 826 692 (2,098) 9,317 351,327

$

$

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CITY OF HOUSTON, TEXAS Houston Area Water Corporation Statement of Net Assets June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

$ Assets Restricted cash and cash equivalents Investments Deferred charges for issuance cost Total restricted assets

2,003

$

2,002

$ $ $

45,360 1,747 47,107

$ $ $

104,707 1,793 106,500

Capital assets Construction in progress Total capital assets Less accumulated depreciation Net capital assets Total noncurrent assets Total assets Liabilities Current liabilities payable from restricted assets Accounts payable Revenue bonds payable Accrued interest payable Construction billings and retainages assets Long-term liabilities Revenue bonds payable Total long-term liabilities Total liabilities Net assets Unrestricted (deficit) Total net assets (deficit)

$ $
$ $ $ $

97,007 97,007
97,007 144,114 144,114

$ $
$ $ $ $

25,365 25,365
25,365 131,865 131,865

$ $ $ $ $ $ $ $ $ $

9,398 2,224 3,341 14,963 129,381 129,381 144,344 (230) (230)

$ $ $ $ $ $ $ $ $ $

1,061 407 878 246 2,592 129,350 129,350 131,942 (77) (77)

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CITY OF HOUSTON, TEXAS Houston Area Water Corporation Statement of Revenues, Expenses and Changes in Net Assets For the Year Ended June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands

2003 Operating Revenues Water/Sewer Billing Total operating revenue Operating Expenses Administrative costs Depreciation and amortization Total operating expenses Operating loss Loss Change in net assets Total net assets (deficit), July 1 Total net assets (deficit), June 30 $ $ 61 92 153 (153) (153) (153) (77) (230) $ $

2002 6 11 17 (17) (17) (17) (60) (77)

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CITY OF HOUSTON, TEXAS Houston Area Water Corporation Statement of Cash Flows For the Year Ended June 30, 2003 (With comparative amounts for 2002) amounts expressed in thousands 2003 Cash flows from operating activities Other expenses Net cash provided by operating activates Cash flows from investing activities Interest income on investments Purchase of investments Proceeds from sale of investments Net cash provided by (used for) investing activities Cash flows from capital and related financing activities Retirement of notes payable Proceeds from issuance of revenue bonds Net proceeds from issuance of commercial paper Interest expense on revenue bonds Interest expense on contracts payable Acquisition of property, plant and equipment Net cash provided by (used for) capital and related financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, July 1 Cash and cash equivalents, June 30 Non cash transactions Amortization expense Capitalized interest expense Total non cash transactions Reconciliation of operating income to net cash provided (used) by operating activities Operating income (loss) Adjustments to reconcile operating income to net cash provided by operating activities Depreciation and amortization Net cash used for operating activities $ $ (61) (61) $ 2002 (6) (6)

2,557 (45,360) 104,706 61,903

547 (104,706) 337 (103,822)

(5,752) (36) (56,054) (61,842) $

(19,000) 129,346 18,000 (1,394) (160) (22,964) 103,828 -

$

92 4,156 4,248

$

11 464 475

$

(153)

$

(17)

92 (61)

11 (6)

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