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"Paradoxically though it may seem, it is none the less true that life imitates art far more than art imitates life."

Oscar Wilde, Irish poet, playwright and novelist

COMPONENT UNITS

Component Units

(Governmental and Business-type)

Component units are legally separate organizations that the City of Houston must include as a part of its financial reporting entity for fair presentation. Governmental ­ This category is primarily comprised of advisory boards and redevelopment authorities: · · · · · · · · · · · · · City Park Redevelopment Authority Cultural Arts Council of Houston/Harris County East Downtown Redevelopment Authority Fourth Ward Redevelopment Authority Greater Greenspoint Redevelopment Authority Gulfgate Redevelopment Authority HALAN Fund Houston Library Board Houston Parks Board Houston Small Business Development Corporation Lamar Terrace Public Improvement District Main Street Market Square Redevelopment Authority Memorial City Redevelopment Authority · · · · · · · · · · Memorial Heights Redevelopment Authority Midtown Redevelopment Authority Old Sixth Ward Redevelopment Authority OST/Almeda Corridors Redevelopment Authority Saint George Place Redevelopment Authority Sharpstown Economic Redevelopment Authority South Post Oak Redevelopment Authority Southwest Houston Redevelopment Authority Upper Kirby Redevelopment Authority Uptown Development Authority

Business-type ­ This category is comprised of: · · · Houston Convention Center Hotel Corporation Houston Housing Finance Corporation Houston Zoo Inc.

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CITY OF HOUSTON, TEXAS DISCRETELY PRESENTED COMPONENT UNITS - GOVERNMENTAL Combining Statement of Net Assets June 30, 2004 amounts expressed in thousands

City Park Redevelopment Authority Assets Cash Equity in pooled cash and investments Receivables, net of allowances Accounts receivable Property taxes receivable, net Special assessments receivable Accrued interest and other Due from primary government Prepaid items Total current assets Noncurrent Assets Restricted assets Amounts held by other governments Receivable and deposits Other debits Deferred charges for issuance cost Amount available for debt service Total noncurrent restricted assets Capital assets Land Buildings, improvements and equipment Plants, lines and rights Construction in progress Total capital assets Less accumulated depreciation Buildings, improvements and equipment Accumulated depreciation Net capital assets Total noncurrent assets Total assets

Cultural Arts Council of Houston/Harris County

East Downtown Redevelopment Authority

Fourth Ward Redevelopment Authority

$

298 298

1,224 792 273 12 2,301

$

669 669

$

764 764

-

-

-

4 4

1,200

1,200

726 726

315 315

558 8 566

1,200 1,200 1,498

(672)

(672) 54 54 2,355

315 315 984

566 570 1,334

Liabilities Current Liabilities Accounts payable Accrued interest payable Contracts and retainages payable Notes payable Due to other governments Other liabilities Deferred revenue Current liabilities payable from restricted assets Revenue bonds payable Accrued interest payable Advances and deposits Construction billings and retainages Total current liabilities Long-term liabilities Notes payable Revenue bonds payable Due to City of Houston Compensated absences Contracts payable Other long-term liabilities 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 (deficit)

9 59 4,148 218 4,434

41 41

11 27 2,528 2,566

63 63

1,531 1,531 5,965

1,016 1,016 1,057

395 395 2,961

63

(4,467) (4,467)

594 704 1,298

(1,977) (1,977)

566 705 1,271

$

$

$

$

(Continued)

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Greater Greenspoint Redevelopment Authority

Gulfgate Redevelopment Authority

HALAN

Houston Library Board

Houston Parks Board

Houston Small Business Development Corporation

$

9,671 11,421 923 22,015

$ $

398 582 980

$

3,288 2 3,290

$

804 16,467 77 17,348

$

3,864 3,359 100 7,323

$

1,181 10,018 11,199

-

-

-

-

2,594 2,594

-

-

5,417 5,417

-

50 50

6,869 6,869

4,661 4,661

22,015

5,417 5,417 6,397

3,290

(9)

(9) 41 41 17,389

6,869 9,463 16,786

4,661 4,661 15,860

101 1 660 308 1,070

348 86 5,628 525 100 1,125 7,812

7 71 78

75 75

59 692 751

287 287

18,480 18,480 19,550

7,812

78

75

751

7,339 7,339 7,626

2,853 (388) 2,465

(1,415) (1,415)

3,212 3,212

41 15,643 1,630 17,314

4,635 9,780 1,620 16,035

5,853 2,381 8,234

$

$

$

$

$

$

(Continued)

- 159 -

CITY OF HOUSTON, TEXAS DISCRETELY PRESENTED COMPONENT UNITS - GOVERNMENTAL Combining Statement of Net Assets June 30, 2004 amounts expressed in thousands

Lamar Terrace Public Improvement District Assets Cash Equity in pooled cash and investments Receivables, net of allowances Accounts receivable Property taxes receivable, net Special assessments receivable Accrued interest and other Due from primary government Prepaid items Total current assets Noncurrent Assets Restricted assets Amounts held by other governments Receivable and deposits Other debits Deferred charges for issuance cost Amount available for debt service Total noncurrent restricted assets Capital assets Land Buildings, improvements and equipment Plants, lines and rights Construction in progress Total capital assets Less accumulated depreciation Buildings, improvements and equipment Accumulated depreciation Net capital assets Total noncurrent assets Total assets

Main Street Market Square Redevelopment Authority

Memorial City Redevelopment Authority

MemorialHeights Redevelopment Authority

$

44 48 1 93

$

3,067 3,718 556 7,341

$

39 807 846

$

2,216 513 2,729

-

489 489

-

-

-

-

-

-

93

489 7,830

846

2,729

Liabilities Current Liabilities Accounts payable Accrued interest payable Contracts and retainages payable Notes payable Due to other governments Other liabilities Deferred revenue Current liabilities payable from restricted assets Revenue bonds payable Accrued interest payable Advances and deposits Construction billings and retainages Total current liabilities Long-term liabilities Notes payable Revenue bonds payable Claims and judgments Compensated absences Contracts payable Other long-term liabilities 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 (deficit)

11 77 88

1,966 117 440 2,523

77 77

295 7,088 7,383

35 35 123

11,920 3,492 15,412 17,935

77

7,383

(30) (30)

1,683 (11,788) (10,105)

769 769

(4,654) (4,654)

$

$

$

$

(Continued)

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Midtown Redevelopment Authority

Old Sixth Ward Redevelpoment

OST/Almeda Corridors Redevelopment Authority

Saint George Place Redevelopment Authority

Sharps Town Economic Redevelopment Authority

South Post Oak Redevelopment Authority

$

5,233 16,292

35 1,610 -

$

206 247 453

$

19 6,110 591 264 6,984

$

436 637 1,094 2,167

$ -

8

$

480 113 593

-

23,170

470 13 491

139 1,534

-

581 581

282 282

-

-

1,673

4,202 6,870 11,072

-

2,305 10 2,315

-

-

-

11,072 12,745 35,915

453

2,315 2,896 9,880

282 2,449

491

593

615 1,000 1,285 2,900

21 29 77 127

119 1,735 310 2,164

27 1,425 626 2,078

14 14

997 997

3,855 36,451 40,306 43,206

923 923 1,050

517 7,590 8,107 10,271

2,810 4,112 6,922 9,000

111 111 125

5,700 4 5,704 6,701

6,612 (13,903) (7,291)

(597) (597)

2,314 1,342 (4,047) (391)

636 303 (7,490) (6,551)

366 366

(6,108) (6,108)

$

$

$

$

$

$

(Continued)

- 161 -

CITY OF HOUSTON, TEXAS DISCRETELY PRESENTED COMPONENT UNITS - GOVERNMENTAL Combining Statement of Net Assets June 30, 2004 amounts expressed in thousands

Southwest Houston Redevelopment Authority ASSETS Cash Equity in pooled cash and investments Receivables, net of allowances Accounts receivable Property taxes receivable, net Special assessments receivable Accrued interest and other Due from primary government Prepaid items Total current assets Noncurrent Assets Restricted assets Amounts held by other governments Receivable and deposits Other debits Deferred charges for issuance cost Amount available for debt service Total noncurrent restricted assets Capital assets Land Buildings, improvements and equipment Plants, lines and rights Construction in progress Total property, plant & equipment Less accumulated depreciation and Buildings, improvements and equipment Accumulated depreciation Net capital assets Total noncurrent assets Total assets

Upper Kirby Redevelopment Authority

Uptown Redevelopment Authority

Total

$

8 10,407 4 10,419

$

4,676 4,676

$

2,880 8,405 734 12,019

$

38,141 81,747 12,606 1,821 2,752 341 734 26 138,168

876 876

-

-

2,594 4 2,367 1,534 6,499

-

-

-

19,666 5,455 6,870 1,200

33,191

876 11,295

4,676

-

(681)

(681) 32,510

12,019

39,009 177,177

LIABILITIES Current Liabilities Accounts payable Accrued interest payable Contracts and retainages payable Notes payable Due to other governments Other liabilities - current Deferred revenue Current liabilities payable from restricted assets Revenue bonds payable Accrued interest payable Advances and deposits Construction billings and retainages Total current liabilities Long-term liabilities Notes payable Revenue bonds payable Claims and judgments Compensated absences Contracts payable Other long-term liabilities Total long-term liabilities Total liabilities NET ASSETS Investment 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

143 450 185 5,914 6,692

51 51

482 2,218 790 493 3,983

4,516 2,952 6,844 5,705 2,219 4,167 803 3,935 2,111 7,088 5,914 46,254

12,899 12,899 19,591

51

35,340 35,340 39,323

21,255 122,680 4,147 1,016 5,422 154,520 200,774

1,064 7,069 (16,429) (8,296)

4,625 4,625

5,769 (33,073) (27,304)

2,880 19,959 344 6,447 11,704 25,423 (90,354) (23,597)

$

$

$

$

- 162 -

CITY OF HOUSTON, TEXAS

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- 163 -

CITY OF HOUSTON, TEXAS DISCRETELY PRESENTED COMPONENT UNITS - GOVERNMENTAL Combining Statement of Activities For the Year Ended June 30, 2004 amounts expressed in thousands

Net (Expense) Revenue and Change in Net Assets

Functions/Programs

Expenses

Charges for Services

Operating Grants and Contributions

City Park Redevelopment Authority

Cultural Arts Council of Houston/Harris County

Component Units City Park Redevelopment Authority Cultural Arts Council of Houston/Harris County East Downtown Redevelopment Authority Fourth Ward Greater Greenspoint Redevelopment Authority Gulfgate Redevelopment Authority HALAN Houston Library Board Houston Parks Board Houston Small Business Development Corporation Lamar Terrace Public Improvement District Main Street Market Square Redevelopment Authority Memorial City Redevelopment Authority Memorial-Heights Redevelopment Authority Midtown Redevelopment Authority Old Sixth Ward Redevelopment OST/Almeda Corridors Redevelopment Authority Saint George Place Redevelopment Authority Sharps Town Economic Redevelopment Authority South Post Oak Redevelopment Authority Southwest Houston Redevelopment Authority Upper Kirby Redevelopment Authority Uptown Development Authority Total component units

$

$

809 9,417 202 287 1,412 364 1,201 2,097 1,969 3,028 370 7,234 152 441 6,519 1,185 2,808 696 256 473 961 86 4,439 46,406

$

$

1,183 1,183

$

$

339 1,540 3,959 181 6,019

$

(809) (809)

$

(8,234) (8,234)

General Revenues: Taxes Property Taxes - general purposes Industrial assessments tax Contributions Unrestricted investment earnings (loss) Other Special Items - Loss on sale of assets Transfers Total general revenues, special items, and transfers Change in net assets Net Assets (deficit) beginning New Component Unit & Restatement Net Assets (deficit) ending

260 1 -

8,490 246 -

261 (548) (3,919) $ (4,467) $

8,736 502 796 1,298

(Continued)

- 164 -

Net (Expense) Revenue and Change in Net Assets

East Downtown Redevelopment Authority

Fourth Ward Redevelopment Authority

Greater Greenspoint Redevelopment Authority

Gulfgate Redevelopment Authority

HALAN

Houston Library Board

Houston Parks Board

$

(202) (202)

$

52 52

$

(1,412) (1,412)

$

(364) (364)

$

339 339

$

(2,097) (2,097)

$

1,990 1,990

657 1 1 -

616 1 -

4,517 191 -

760 113

83 -

1,711 1,816 128 50

86 48 (33) 223

659 457 (2,434) $ (1,977) $

617 669 602 1,271 $

4,708 3,296 (831) 2,465 $

873 509 (1,924) (1,415) $

83 422 2,790 3,212 $

3,705 1,608 15,706 17,314 $

324 2,314 13,721 16,035

(Continued)

- 165 -

CITY OF HOUSTON, TEXAS DISCRETELY PRESENTED COMPONENT UNITS - GOVERNMENTAL Combining Statement of Activities For the Year Ended June 30, 2004 amounts expressed in thousands

Net (Expense) Revenue and Change in net Assets

Functions/Programs

Houston Small Business Development Corporation

Lamar Terrace Public Improvement District

Main Street Market Square Redevelopment Authority

Memorial City Redevelopment Authority

Component Units City Park Redevelopment Authority Cultural Arts Council of Houston/Harris County East Downtown Redevelopment Authority Fourth Ward Greater Greenspoint Redevelopment Authority Gulfgate Redevelopment Authority HALAN Houston Library Board Houston Parks Board Houston Small Business Development Corporation Lamar Terrace Public Improvement District Main Street Market Square Redevelopment Authority Memorial City Redevelopment Authority Memorial-Heights Redevelopment Authority Midtown Redevelopment Authority Old Sixth Ward Redvelopment OST/Almeda Corridors Redevelopment Authority Saint George Place Redevelopment Authority Sharps Town Economic Redevelopment Authority South Post Oak Redevelopment Authority Southwest Houston Redevelopment Authority Upper Kirby Redevelopment Authority Uptown Development Authority Total component units

$

(3,028) (3,028)

$

(189) (189)

$

(7,234) (7,234)

$

(152) (152)

General Revenues: Taxes Property Taxes- general purposes Industrial assessments tax Contributions Unrestricted investment earnings (loss) Other Special Items - Loss on sale of assets Transfers Total general revenues, special items, and transfers Change in net assets Net Assets (deficit) beginning New Component Unit & Restatement Net Assets (deficit) ending

3,824 -

5 -

3,559 23 40 -

426 9 (134)

3,824 796 7,438 8,234

5 (184) 154 $ (30) $

3,622 (3,612) (6,493) (10,105) $

301 149 620 769

$

(Continued)

- 166 -

Net (Expense) Revenue and Change in Net Assets

MemorialHeights Redevelopment Authority

Midtown Redevelopment Authority

Old Sixth Ward Redevelpoment

OST/Almeda Corridors Redevelopment Authority

Sharps Town Saint George Economic Place Redevelopment Redevelopment Authority Authority

South Post Oak Redevelopment Authority

$

(441) (441)

$

(6,519) (6,519)

$

(1,185) (1,185)

$

(2,808) (2,808)

$

(696) (696)

$

(256) (256)

$

(473) (473)

1,685 5 -

5,762 115 268 -

586 2 -

2,467 38 -

803 919 46 1 -

470 -

485 1 -

1,690 1,249 (5,903) $ (4,654) $

6,145 (374) (6,917) (7,291) $

588 (597) (597) $

2,505 (303) (88) (391) $

1,769 1,073 (7,992) 368 (6,551)

470 214 152 $ 366 $

486 13 (6,121) (6,108)

(Continued)

- 167 -

Net (Expense) Revenue and Change in Net Assets

Functions/Programs

Southwest Houston Redevelopment Authority

Upper Kirby Redevelopment Authority

Uptown Redevelopment Authority

Total

Component Units City Park Redevelopment Authority Cultural Arts Council of Houston/Harris County East Downtown Redevelopment Authority Fourth Ward Greater Greenspoint Redevelopment Authority Gulfgate Redevelopment Authority HALAN Houston Library Board Houston Parks Board Houston Small Business Development Corporation Lamar Terrace Public Improvement District Main Street Market Square Redevelopment Authority Memorial City Redevelopment Authority Memorial-Heights Redevelopment Authority Midtown Redevelopment Authority Old Sixth Ward Redevelpoment OST/Almeda Corridors Redevelopment Authority Saint George Place Redevelopment Authority Sharps Town Economic Redevelopment Authority South Post Oak Redevelopment Authority Southwest Houston Redevelopment Authority Upper Kirby Redevelopment Authority Uptown Development Authority Total component units

$

(961) (961)

$

(86) (86)

$

(4,439) (4,439)

$

(809) (8,234) (202) 52 (1,412) (364) 339 (2,097) 1,990 (3,028) (189) (7,234) (152) (441) (6,519) (1,185) (2,808) (696) (256) (473) (961) (86) (4,439) (39,204)

General Revenues: Taxes Property Taxes - general purposes Industrial assessments tax Contributions Unrestricted investment earnings Other Special Items - Loss on sale of assets Transfers

1,442 53 8 (302)

1,754 34 (184)

7,037 37 40 (6,447)

45,600 919 1,711 2,545 782 (33) (6,681)

Total general revenues, special items, and transfers Change in net assets Net Assets ending New Component Unit & Restatement Net Assets ending

1,201 240 (8,536) $ (8,296) $

1,604 1,518 3,107 4,625 $

667 (3,772) (23,532) (27,304) $

44,843 5,639 (37,042) 7,806 (23,597)

- 168 -

CITY OF HOUSTON, TEXAS DISCRETELY PRESENTED COMPONENT UNITS - BUSINESS TYPE Combining Statement of Net Assets June 30, 2004 amounts expressed in thousands

Houston Convention Center Hotel Corp. Assets Cash Investments Receivables, net of allowances Accounts receivable Accrued interest and other Inventory Prepaid items Total current assets Noncurrent Assets Restricted assets Investments Accrued interest receivable Amounts held by other governments Receivable and deposits Amount available for debt service Other long-term receivables Total noncurrent restricted assets Capital assets Buildings, improvements and equipment Infrastructure Assets Total capital assets Less accumulated depreciation Buildings, improvements and equipment Accumulated depreciation Net capital assets Total noncurrent assets Total assets Liabilities Current Liabilities Accounts payable Accrued payroll liabilities Accrued interest payable Contracts and retainages payable Notes payable Deferred revenue Total current liabilities Long-term liabilities Notes payable Revenue bonds payable Due to City Of Houston Compensated absences Contracts payable General tax obligation debt Commercial paper Arbitrage rebate Other long-term liabilities Total long-term liabilities Total liabilities Net assets Investment in capital assets, net of related debt Restricted net assets Restricted for debt service Restricted for maintenance and operations Restricted for capital improvements Unrestricted (deficit) Total net assets (deficit)

Houston Housing Finance Corp

Houston Zoo Inc.

Total

$

5,312 6,186 380 3,594 15,472

$

606 14,356 1,326 59 16,347

$

4,577 1,752 3,087 51 9,467

$

10,495 16,108 10,599 59 380 3,645 41,286

29,031 29,031

222 1,053 580 5,094 4,563 11,512

2,814 2,814

222 1,053 580 29,031 5,094 2,814 4,563 43,357

284,242 3,942 288,184

-

8,917 8,917

293,159 3,942 297,101

288,184 317,215 332,687

11,512 27,859

(1,017) (1,017)

7,900 10,714 20,181

(1,017) (1,017)

296,084 339,441 380,727

2,022 5,829 737 8,588

288 300 588

738 905 0 315 1,958

2,760 905 288 6,144 300 737 11,134

4,636 314,200 17,977 336,813 345,401

2,945 337 3,282 3,870

1,958

7,581 314,200 18,314 340,095 351,229

(8,023) 9,711 (14,402) (12,714)

1,207 83 22,699 23,989

1,819 7,763 8,641 18,223

(8,023) 10,918 1,819 7,846 16,938 29,498

$

$

$

$

- 169 -

CITY OF HOUSTON, TEXAS DISCRETELY PRESENTED COMPONENT UNITS - BUSINESS-TYPE Combining Statement of Activities For the Year Ended June 30, 2004 amounts expressed in thousands

Functions/Programs Component Units Houston Convention Center Hotel Corp. Houston Housing Finance Corp. Houston Zoo Inc. Totals

Expenses

Charges for Services

Operating Grants and Contributions

$

$

44,019 7,074 16,817 67,910

$

$

30,422 4,498 14,953 49,873

$

$

5,015 9,414 14,429

General Revenues: Taxes Property Taxes levied for general purposes Unrestricted investment earnings Other Total general revenues, special items, and transfers Change in net assets Net Assets (deficit) beginning Net Assets (deficit) ending (Continued)

- 170 -

Net (Expense) Revenue and Change in Net Assets Houston Convention Center Hotel Houston Housing Finance Corp. Houston Zoo Inc.

Total

$

(13,597) (13,597)

$

2,439 2,439

$

7,550 7,550

$

(13,597) 2,439 7,550 (3,608)

$

1,418 3,252 4,670 (8,927) (3,787) (12,714)

$

750 516 1,266 3,705 20,284 23,989

$

73 73 7,623 10,600 18,223

$

750 2,007 3,252 6,009 2,401 27,097 29,498

- 171 -

CITY OF HOUSTON, TEXAS Discretely Presented Component Units - Business-Type Statement of Cash Flows For the Year Ended June 30, 2004 amounts expressed in thousands

Houston Convention Center Hotel Corporation Cash flows from operating activities Receipts from customers Payments to employees Payments to suppliers Other revenues 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 Collection of long-term receivables Net cash provided by investing activities Cash flows from capital and related financing activities Contributed capital Acquisition of property, plant and equipment Net cash provided by (used for) capital and related financing activities Cash flows from noncapital financing activities Excess funds from Series 1988 and Series 1990 Bond Series Payments on notes payable 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 Non cash transactions Capitalized interest expense Total non cash transactions Reconciliation of operating income to net cash provided (used) by operating activities Operating income (Loss) Depreciation and amortization Bad debt expense Other revenues Other expenses Changes in assets and liabilities: Accounts receivable Inventory Other assets Accounts payable Accrued payroll liabilities Advances and deposits Accrued interest on contracts payable Net cash provided by (used for) operating activities $ $ 24,385 (22,080) 2,305

Houston Housing Finance Corp. $ 10,999 (5,015) (1,128) 4,856 $

Houston Zoo Inc. 220 313 280 959 (12) 1,760 $

Total Component Units 35,604 313 (4,735) 959 (23,220) 8,921

1,240 6,000 105,008 112,248

(53,422) 50,123 (601) (3,900)

(6,098) (6,098)

1,240 (53,520) 155,131 (601) 102,250

(109,455) (109,455)

-

5,543 5,543

5,543 (109,455) (103,912)

5,098 214 5,312 $

(547) (280) (827) 129 699 828 $

1,205 3,372 4,577 $

(547) (280) (827) 6,432 4,285 10,717

$

1,376 1,376

$

-

$

-

$

1,376 1,376

$

(3,093) 7,408 (197) 1,058 (6,186) (380) (36) 574 5,829 (2,672) 2,305

$

4,253 249 180 131 98 (55) 4,856

$

7,623 651 62 (7,377) 72 137 280 312 1,760

8,783 8,308 180 (135) (6,319) (5,983) (380) 101 854 6,239 (2,672) (55) 8,921

$

$

$

$

-172 -

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