City of Edmond Annual Comprehensive Financial Report 2021

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CIT Y OF

ED M O N D, O KL A H O M A

ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE FISCAL YE AR ENDED JUNE 30, 2021


CITY OF EDMOND, OKLAHOMA ANNUAL COMPREHENSIVE FINANCIAL REPORT AND ACCOMPANYING INDEPENDENT AUDITOR’S REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2021

Prepared by: Financial Services Department Kathy Panas Finance Director



CITY OF EDMOND, OKLAHOMA COMPREHENSIVE ANNUAL FINANCIAL REPORT AND ACCOMPANYING INDEPENDENT AUDITOR’S REPORT For the fiscal year ended June 30, 2021 TABLE OF CONTENTS

Page INTRODUCTION SECTION: Letter of Transmittal

1-4

List of Principal Officials

5

City Governmental Organization Chart

6

Certificate of Achievement for Excellence in Financial Reporting

7

FINANCIAL SECTION: INDEPENDENT AUDITOR’S REPORT

9-10

MANAGEMENT DISCUSSION AND ANALYSIS

11-26

BASIC FINANCIAL STATEMENTS: Statement of Net Position

27

Statement of Activities

28

Balance Sheet – Governmental Funds

29-30

Statement of Revenues, Expenditures and Changes In Fund Balance – Governmental Funds

31-32

Statement of Net Position – Proprietary Funds

33

Statement of Revenues, Expenses and Changes In Fund Net Position– Proprietary Funds

34

Statement of Cash Flows – Proprietary Funds

35

Statement of Fiduciary Net Position – Fiduciary Funds

36

Statement of Changes in Fiduciary Net Position – Fiduciary Funds

37

Notes to Basic Financial Statements

39-85

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CITY OF EDMOND, OKLAHOMA COMPREHENSIVE ANNUAL FINANCIAL REPORT AND ACCOMPANYING INDEPENDENT AUDITOR’S REPORT For the fiscal year ended June 30, 2021 TABLE OF CONTENTS Page REQUIRED SUPPLEMENTARY INFORMATION: Budgetary Comparison Schedule –(Non-GAAP Budgetary Basis) - General Fund

87-89

Budgetary Comparison Schedule- (Non-GAAP Budgetary Basis) – Major Special Revenue Funds

90-91

Notes to Budgetary Comparison Schedules

92-93

Schedule of Share of Net Pension Liability (Asset) – Police Pension & Schedule of City Contributions – Police Pension & Retirement System

94

Schedule of Share of Net Pension Liability – Firefighter’s System & Schedule of City Contributions – Firefighter’s Pension & Retirement

95

Single-Employer Defined Benefit Schedule of Changes in Net Pension Liability and Related Ratios

96

Pension Fund Schedule of City’s Contributions-Last Ten Years

97

Pension Fund Schedule of Investment Returns

98

OPEB Schedule

99

OTHER SUPPLEMENTARY INFORMATION: GENERAL FUND COMBINING SCHEDULES: General Fund Account Descriptions

101

Combining Balance Sheet – General Fund Accounts

102

Combining Schedule of Revenues, Expenditures and Changes in Fund Balance – General Fund Accounts

103

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual (Non-GAAP Budgetary Basis) – General Fund Accounts

104-105

NONMAJOR GOVERNMENTAL FUNDS: Fund Descriptions

106-107

Combining Balance Sheet – Nonmajor Governmental Funds

108-109

Combining Statement of Revenues, Expenditures and Changes in Fund Balance – Nonmajor Governmental Funds

110-111

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CITY OF EDMOND, OKLAHOMA COMPREHENSIVE ANNUAL FINANCIAL REPORT AND ACCOMPANYING INDEPENDENT AUDITOR’S REPORT For the fiscal year ended June 30, 2021 TABLE OF CONTENTS Page Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual (Non-GAAP Budgetary Basis) - Nonmajor Governmental Funds

112-119

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual (Non-GAAP Budgetary Basis) - Major Governmental Capital Project Funds

120

NONMAJOR ENTERPRISE FUNDS: Fund Descriptions

121

Combining Statement of Net Position – Nonmajor Enterprise Funds

122

Combining Statement of Revenues, Expenses and Changes In Fund Net Position – Nonmajor Enterprise Funds

123

Combining Statement of Cash Flows – Nonmajor Enterprise Funds

124

INTERNAL SERVICE FUNDS: Fund Descriptions

125

Combining Statement of Net Position - Internal Service Funds

126

Combining Statement of Revenues, Expenses and Changes in Fund Net Position – Internal Service Funds

127

Combining Statement of Cash Flows – Internal Service Funds

128

REVENUE BOND/NOTE COVENANT SCHEDULES: Schedule Descriptions

129

Schedule of Revenue Bond/Note Debt Service Coverage

130

Schedule of Reserve Account Balances

131

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CITY OF EDMOND, OKLAHOMA COMPREHENSIVE ANNUAL FINANCIAL REPORT AND ACCOMPANYING INDEPENDENT AUDITOR’S REPORT For the fiscal year ended June 30, 2021 TABLE OF CONTENTS Page DISCRETELY PRESENTED COMPONENT UNIT: Fund Description

132

Balance Sheet – Discretely Presented Component Unit

133

Statement of Revenues, Expenditures, and Changes in Fund Balance – Discretely Presented Component Unit

134

STATISTICAL SECTION: Statistical Section Narrative

Table 135

Net Position by Component - Last Ten Fiscal Years

1

136

Changes in Net Position - Last Ten Fiscal Years

2

137-138

Fund Balances, Governmental Funds – Last Ten Fiscal Years

3

139

Changes in Fund Balances, Governmental Funds – Last Ten Fiscal Years

4

140

Governmental Activities Tax Revenues by Source – Last Ten Fiscal Years

5

141

Electricity Revenue by Customer Type - Last Ten Fiscal Years

6

142

Top Ten Electric Customers – Last Ten Years

7

143

Electricity Rate Structure – Last Ten Fiscal Years

8

144-148

Historical Utility Customers – Last Ten Fiscal Years

9

149

Largest Water and Wastewater Customers

10

150

Sales Tax Rates of Direct and Overlapping Governments – Last Ten Fiscal Years

11

151

Taxable Sales by Category - Last Ten Fiscal Years

12

152

Monthly Sales Tax Revenue Comparison – Last Three Fiscal Years

13

153

Historical Sales Tax Revenue – Last Ten Fiscal Years

14

154

Ratio for Outstanding Debt by Type – Last Ten Fiscal Years

15

155

Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt per Capita – Last Ten Fiscal Years

16

156

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CITY OF EDMOND, OKLAHOMA COMPREHENSIVE ANNUAL FINANCIAL REPORT AND ACCOMPANYING INDEPENDENT AUDITOR’S REPORT For the fiscal year ended June 30, 2021 TABLE OF CONTENTS STATISTICAL SECTION:

Table

Page

Computation of Direct and Overlapping Debt

17

157

Legal Debt Margin Information – Last Ten Fiscal Years

18

158

The Edmond Public Works Authority Utility Systems Division Pledged Revenue Coverage – Last Ten Fiscal Years

19

159

Demographic and Economic Statistics – Last Ten Calendar Years

20

160

Principal Employers – Current and Ten Years Ago

21

161

Full-Time Equivalent Budgeted City Government Employees by Function/Program – Last Ten Fiscal Years

22

162

Capital Asset Statistics by Function/Program – Last Ten Fiscal Years

23

163

Operation Indicators by Function/Program – Last Ten Fiscal Years

24

164

Construction Permits – Last Ten Fiscal Years

25

165

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INTRODUCTION SECTION



December 27, 2021 Mayor Davis The Edmond City Council, and Citizens of Edmond, Oklahoma: We are pleased to provide the Annual Comprehensive Financial Report (ACFR) of the City of Edmond for the fiscal year ended June 30, 2021. This report is published annually as the official annual financial report as mandated by the city charter and state statutes. Within six months of the close of each fiscal year, the City is required to publish a complete set of financial statements presented in conformance with generally accepted accounting principles (GAAP) and audited by licensed certified public accountants (CPAs) in accordance with generally accepted auditing standards (GAAS). The Financial Services Department of the City is responsible for both the accuracy of the data and the completeness and fairness of the presentation, including all related disclosures. The City operates under a system of comprehensive internal controls designed to safeguard city assets and compile reliable financial records. The definition of accounting control assumes reasonable, but not absolute assurance that the financial statements will be free from material misstatement. The concept of reasonable assurance recognizes that the cost of internal control should not exceed the benefits expected to be derived from those controls. We believe the information, as presented, is accurate in all material respects and is reported in a manner that presents fairly the financial position and results of operations of the various funds and component units of the City of Edmond. Disclosures necessary to enable the reader to gain an understanding of the City of Edmond’s activities have been included. The City’s financial statements have been audited by the licensed CPA firm of HSPG & Associates, PC in accordance with GAAS to provide reasonable assurance that the financial statements of the City are free of material misstatement. The independent auditor’s report includes the auditor’s opinion with respect to the City’s financial statements and is presented as the first component of the financial section of this report. In addition to the independent audit of the financial statements, the City is required to undergo an annual single audit in conformity with the provisions of the Office of Management and Budget’s (OMBs) Uniform Guidance. This guidance is an authoritative set of rules and requirements for Federal awards. It requires the auditor to report on the government’s internal controls and compliance in the administration of major federal grant awards received by the city. These reports are designed to meet the special needs of federal grantor agencies and are available in the City of Edmond’s separately issued Single Audit Report. GAAP requires City management to provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This transmittal letter is designed to complement the MD&A and should be read in conjunction with it. The City’s MD&A can be found immediately following the report of the independent auditors.

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Profile of our City Government: Incorporated in 1890, Edmond is the fifth largest city in the state of Oklahoma (after Oklahoma City, Tulsa, Norman & Broken Arrow) and the 338th largest city in the United States. Edmond covers approximately 88 square miles of central Oklahoma contiguous with the northern boundary of Oklahoma City. Edmond has almost doubled in population since 1990 with a population of 52,315 to a 2020 US Census population estimate of 94,428. Edmond is growing faster than 70% of similarly sized cities since 2000. Edmond has adopted a charter and operates under a Council‐Manager form of government. The legislative authority of the City is vested in a five‐member elected council consisting of one council member from each of four wards and the mayor who serves as council member at large. Council members serve four‐year staggered terms with two council members elected every two years. The mayor is elected to serve a two‐year term. The City Council members are also the Trustees of the Edmond Public Works Authority. The Mayor and Council appoint the City Manager, who as the Chief Executive Officer of the City, is responsible for the administration of all City services, budget preparation and employee management. The city provides a wide range of municipal services, including police and fire protection, planning and zoning, street maintenance and construction, parks, cultural and recreational events, and general administrative services. The City operates enterprise funds for electric, water, wastewater, stormwater management, and solid waste management to its residents under the legal entity of the Edmond Public Works Authority (EPWA). EPWA is a public trust created under applicable Oklahoma statutes on October 6, 1970, with the city as the named beneficiary. EPWA’s financial operations are blended with the City’s financial statements. This report includes all funds, agencies, and boards and commissions that are controlled by, or dependent on, the City’s executive and legislative departments. Included as blended component units are two legally separate units: Edmond Economic Development Authority and the Edmond Historic Preservation Trust. Both units are reported separately within the City’s financial statements. Additional information on these units may be found in the notes to the financial statements. The city prepares a five‐year strategic business plan and operating budget to support those plans. The City Manager issues executive guidelines that establish priorities and specific economic factors for the City for the upcoming budget year. Budgets are then developed at a departmental level for all five years. The City Manager’s recommended budget is required to be submitted to the City Council no later than June 1 of each year. The City Council holds required public hearings on the budget by June 15 of each year. The City Council officially adopts the budget no later than seven days prior to the beginning of the next fiscal year which is July 1. The appropriated budget is prepared by fund, department, and object level/category. Department heads may make transfers of appropriations within an object category. City Council must approve any transfers between object categories of a department or fund. City Council must approve budget supplements. Budget supplemental appropriations must also be filed with the Office of the State Auditor and Inspector.

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Local Economy: The City of Edmond has had steady growth in its annual sales/use tax revenues for more than two decades. This is due in large part to the steady growth in Edmond’s population. Incorporated in 1890 with a population of 294, Edmond now boasts a US Census 2020 population of over 94,000. Edmond’s award‐winning public‐school system and quality of life draw new residents each year. Citizen support of tax initiatives to earmark investments in the local economy allow the city to make continuous improvements to infrastructure, commercial developments, and recreational venues throughout the city. Edmond voters have approved dedicated sales tax initiatives specifically for Capital Improvement, Fire, Police and Park Funds. These funds are expended exclusively for support of our Public Safety and improvements to our community. The result is a community known to be a safe place to live with outstanding community events, plentiful parks, exceptional competitive sport venues, and beautiful public art on almost every corner. The City of Edmond has made a conscious decision in developing the visual arts aspect of this community. Located on scenic Route 66, Edmond places you just minutes from international attractions such as the National Cowboy and Western Heritage Museum, Remington Park horse racing, and the Lazy E Arena. Additionally, Edmond is a suburb of Oklahoma City and the many benefits offered with a larger metropolitan area. Edmonds key industries include light manufacturing, information, finance and insurance, professional, scientific, and technical services, and management of companies and enterprises. Additionally, the energy industry is a large contributor to the tax base in Oklahoma. The major employers in Edmond are education institutions, local government, healthcare facilities, e‐commerce, and manufacturing. The Edmond Police Department is dedicated to keeping citizens informed and involved through crime prevention and personal safety education, school resource officers, an annual Citizens Police Academy, and an ongoing commitment to community relations. The Edmond Police Department values and encourages citizens who share the crime prevention responsibility that contributes to the quality of life in our city. In the past ten years, while Edmond’s population has increased 20%, for the same time period, Edmond’s overall crime rate has dropped 4.5%.

Capital Improvements: Edmond invests heavily in continuous improvements to infrastructure and community quality of life projects. Recent and planned investments include improvements to our park and recreation venues, utilities services, traffic, downtown streetscape, and public safety. Improvements and additions to our park and recreation venues include an extensive trail system, upgrades to our public sports complexes, improvements to other public gathering places, and a major investment in our public golf facilities. A partnership with the Edmond Public Schools supports a state‐of‐the‐art Tennis Center. Long term water utility improvements are outlined in the City of Edmond Water Master Plan. Traffic improvements include intersection enhancements, street widening, street maintenance and intelligent traffic light systems. Downtown and city streetscape improvements include a railway Quiet Zone, ADA improvements, improved security, on‐street parking, trees, and landscape.

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CITY OF EDMOND, OKLAHOMA PRINCIPAL OFFICIALS AND FINANCE COMMITTEE MEMBERS JUNE 30, 2021 ELECTED OFFICIALS Darrell A. Davis David Chapman Josh Moore-Mayor Pro Tem Christin Mugg Stacie A. Peterson

Mayor Councilmember-Ward 1 Councilmember-Ward 2 Councilmember-Ward 3 Councilmember-Ward 4

Exp. May 2023 Exp. May 2023 Exp. May 2023 Exp. May 2025 Exp. May 2025

FINANCE COMMITTEE MEMBERS Stephen Schaus Mayor Darrell A. Davis Christin Mugg

Chairperson Member Member ADMINISTRATION

Larry Stevens Stephen Murdock Stephen Schaus Andy Conyers Jim Smith Cinda Covel Chris Goodwin J.D. Younger Lisa Goodpasture Diane L. Slayton

City Manager City Attorney City Treasurer Assistant City Manager-Administration Assistant City Manager-Operations City Clerk Fire Chief Police Chief Human Resource Director Municipal Judge FINANCE STAFF

Kathy Panas Sheila Briesch Brenda Mayer

Finance Director Controller Purchasing Manager

5


6


Government Finance Officers Association

Certificate of Achievement for Excellence in Financial Reporting Presented to

City of Edmond Oklahoma For its Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2020

Executive Director/CEO

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INDEPENDENT AUDITOR’S REPORT



INDEPENDENT AUDITOR’S REPORT

To the Honorable Mayor and Members of the City Council City of Edmond, Oklahoma Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the City of Edmond, Oklahoma (the “City”) as of and for the year ended June 30, 2021, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the financial statements of the Edmond Economic Development Authority (EEDA), a discretely presented component unit. Those statements were audited by other auditors whose report has been furnished to us, and our opinion, insofar as it relates to the amounts included for EEDA, is based solely on the report of the other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

9


Opinions In our opinion, based on our audit and the report of other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2021, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, budgetary comparison information, and the pension plan and other post-employment benefit schedules, as listed in the table of contents, be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The introductory section, other supplementary information, and statistical section are presented for purposes of additional analysis and are not a required part of the basic financial statements. The other supplementary information, as listed in the table of contents, is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the other supplementary information is fairly stated in all material respects in relation to the basic financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 27, 2021, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.

December 27, 2021 10


MANAGEMENT’S DISCUSSION AND ANALYSIS



CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

Our discussion and analysis of the City of Edmond’s financial performance provides an overview of the City’s financial activities for the fiscal year ended June 30, 2021. Please read it in conjunction with the City’s financial statements, which follow this section. FINANCIAL HIGHLIGHTS  For the fiscal year ended June 30, 2021, the City’s total net position increased by $37 million.  The City recorded combined net pension liabilities of $85,519,619 for the year related to the Oklahoma Police Pension and Retirement System, the Oklahoma Fire Fighters Pension and Retirement System and the City’s Employee Pension and Retirement System.  During the year, the City’s expenses for governmental activities were $118.9 million and were funded by program revenues of $25.1 million and further funded with taxes and other general revenues and transfers that totaled $100.4 million.  In the City’s business-type activities, such as utilities, lake, golf course, and transportation operations, program revenues exceeded expenses by $34.5 million.  At June 30, 2021, the General Fund reported a deficit unassigned fund balance of $1.5 million.  For budgetary reporting purposes, the General Fund and major special revenue funds reported actual revenues above estimates of $11.3 million or 16%, while expenditures were under the final appropriations by $6.7 million or 11.32%. OVERVIEW OF THE FINANCIAL STATEMENTS The financial statements presented herein include all of the activities of the City of Edmond (the “City”) and its component units using the integrated approach as prescribed by GASB Statements No. 14, 34, 39, and 61. Included in this report are governmental-wide statements for each of two categories of activities – governmental and business-type, along with two discretely-presented component units. The government wide financial statements present the complete financial picture of the City from the economic resources measurement focus using the accrual basis of accounting. They present governmental activities and business type activities separately and combined. These statements include all assets of the City (including infrastructure capital assets) and deferred outflows as well as all liabilities (including all long-term debt) and deferred inflows. Reporting the City as a Whole The Statement of Net Position and the Statement of Activities One of the most frequently asked questions about the City’s finances is, “Has the City’s overall financial condition improved, declined or remained steady over the past year?” The Statement of Net Position and the Statement of Activities report information about the City as a whole and about its activities in a way that helps answer this question. These statements include all assets, deferred outflows, liabilities, and deferred inflows using the accrual basis of accounting, which is similar to the accounting used by the private-sector companies. All of the current period’s revenues and expenses are taken into account regardless of when cash is received or paid. These two government-wide statements report the City’s net position and changes in them from the prior year. You can think of the City’s net position – the difference between assets, deferred outflows, liabilities, and deferred inflows – as one way to measure the City’s financial condition. Over time, increases or decreases in the City’s net position are one indicator of whether its financial health is improving,

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CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

deteriorating, or remaining steady. However, you must consider other nonfinancial factors, such as changes in the City’s sales tax base, the condition of the City’s roads, and the quality of services to assess the overall health and performance of the City. As mentioned above, in the Statement of Net Position and the Statement of Activities, we divide the City into three kinds of activities: 

Governmental activities -- Most of the City’s basic services are reported here, including the police, fire, general administration, streets, and parks. Sales taxes, franchise fees, fines, and state and federal grants finance most of these activities.

Business-type activities -- The City charges a fee to customers to help cover all or most of the cost of certain services it provides. The City’s electric, water, wastewater, sanitation, lake, drainage, and golf course activities are reported here.

Discretely-presented component units – These account for activities of the City’s reporting entity that do not meet the criteria for blending, specifically the Historic Preservation Trust and the Edmond Economic Development Authority.

Reporting the City’s Most Significant Funds Fund Financial Statements The fund financial statements provide detailed information about the most significant funds – not the City as a whole. Some funds are required to be established by State law and by bond covenants. However, management establishes many other funds to help it control and manage money for particular purposes or to show that it is meeting legal responsibilities for using certain taxes, grants and other money. The City’s three fund categories-governmental, and proprietary, and fiduciary use different accounting approaches. Governmental funds - Most of the City’s basic services are reported in governmental funds, which focus on how money flows into and out of those funds and the balances left at year-end that are available for spending. These funds are reported using an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be converted to cash. The governmental fund statements provide a detailed short-term view of the City’s general government operations and the basic service it provides. Governmental fund information helps determine whether there are more or fewer financial resources that can be spent in the near future to finance the City’s programs. We illustrate the relationship (or differences) between governmental activities (reported in the Statement of Net Position and the Statement of Activities) and the governmental funds with reconciliation at the bottom of the fund financial statements. Proprietary funds - When the City charges customers for the services it provides – whether to outside customers or to other units of the City – these services are generally reported in proprietary funds. Proprietary funds are reported in the same way that all activities are reported in the Statement of Net Position, the Statement of Revenues, Expenses and Changes in Fund Net Position and Statement of Cash Flows. In fact, the City’s enterprise funds are the essentially the same as the business-type activities we report in the government-wide statements but provide more detail and additional information, such as cash flows.

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CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

Fiduciary funds - When the City is responsible for assets that – because of a trust arrangement or other fiduciary requirement – can be used only for trust beneficiaries or others parties, these activities are reported as fiduciary funds, such as the Employee Retirement Trust Fund. The City is responsible for ensuring that the assets reported in these funds are used for their intended purpose. All of the City’s fiduciary activities are reported in a separate statement of fiduciary net position and a statement of changes in fiduciary net position. We exclude these activities from the City’s government-wide financial statements because the City cannot use these assets to finance operations. A FINANCIAL ANALYSIS OF THE CITY AS A WHOLE Net Position As noted earlier, net position may serve over time as a useful indicator of a government’s financial position. In the case of the City, assets and deferred outflows exceeded liabilities and deferred inflows by $853,711,167 at the close of the most recent fiscal year. TABLE 1 NET POSITION (In Thousands)

Governmental Activities 2021 2020 Current assets Capital assets, net Other non‐current assets Total assets Deferred Outflows Current liabilities Non‐current liabilities Total liabilities Deferred Inflows Net position Net investment in capital assets Restricted Unrestricted (deficit) Total net position

Business‐Type Activities 2021 2020

% Inc. (Dec.)

$ 129,690 353,204 5,179 488,073

$ 124,879 340,545 8,801 474,225

4% 4% ‐41% 3%

29,654

23,856

36,089 102,175 138,264

$

% Inc. (Dec.)

% Inc. (Dec.)

Total 2021

2020

266,703 492,259 20,701 779,663

$ 241,194 450,143 43,106 734,443

11% 9% ‐52% 6%

$ 396,393 845,463 25,880 1,267,736

$ 366,073 790,688 51,907 1,208,668

8% 7% ‐50% 5%

24%

4,565

3,565

28%

34,219

27,421

25%

28,451 93,816 122,267

27% 9% 13%

38,229 266,040 304,269

30,138 258,428 288,566

27% 3% 5%

74,318 368,215 442,533

58,589 352,244 410,833

27% 5% 8%

4,998

7,847

‐36%

713

654

9%

5,711

8,501

‐33%

335,350 85,557 (46,442)

313,549 72,384 (17,966)

7% 18% 158%

262,729 22,181 194,336

236,841 24,019 187,930

11% ‐8% 3%

598,079 107,738 147,894

550,390 96,403 169,964

9% 12% ‐13%

$ 374,465

$ 367,967

2%

479,246

$ 448,790

7%

$ 853,711

$ 816,757

5%

$

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CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

Net Position (in Thousands) $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Governmental $248,599 $273,750 $294,918 $271,156 $287,017 $302,954 $321,689 $339,959 $367,967 $374,465 Business Type $214,648 $229,461 $244,283 $273,388 $313,588 $349,994 $383,776 $415,477 $448,790 $479,246

The largest portion of the City’s net position reflects its net investment in capital assets (e.g., land, buildings, machinery, and equipment); less any related debt used to acquire those assets that is still outstanding. For 2021, this net investment in capital assets amounted to $598,079,537. The City uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City’s investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. A major portion of the City’s net position, $107,738,642, also represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position, $147,892,988, may be used to meet the government’s ongoing obligations to citizens and creditors. At the end of the current fiscal year, the City is able to report positive balances in all categories of net position, both for the government as a whole, as well as for its separate governmental and business-type activities with the exception of governmental unrestricted net position which had a deficit balance of $46,441,931. Changes in Net Position For the year ended June 30, 2021, net position of the primary government changed as follows:

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CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

TABLE 2 CHANGES IN NET POSITION (In Thousands)

Governmental Activities 2021 Revenues Program revenue: Charges for service Operating grants and contributions Capital grants and contributions General Revenue: Taxes Intergovernmental revenue Investment income Miscellaneous Total Revenues Expenses General Government Public Safety Streets & highways Culture, parks and recreation Health and welfare Interest on long‐term debt Electric Water Wastewater Sanitation Lake Drainage Golf Course Cooperative purchasing service Transportation operations Total Expenses Excess before transfers Transfers Increase in net position Beginning net position Ending net position

$

9,742 8,094 7,226

% Inc. (Dec.)

Business‐Type Activities

2020

$

2021

2020

% Inc. (Dec.)

% Inc. (Dec.)

Total 2021

2020

10,617 13,179 2,831

‐8% ‐39% 155%

$ 165,801 1,478 6,872

$ 164,082 1,453 2,911

1% 2% 136%

$ 175,543 9,572 14,098

$ 174,699 14,632 5,742

0% ‐35% 146%

92,152 1,299 407 1,381

84,827 1,176 2,308 1,185

9% 10% ‐82% 17%

‐ ‐ 1,079 2

‐ ‐ 6,322 ‐

0% 0% ‐83% 100%

92,152 1,299 1,486 1,383

84,827 1,176 8,630 1,185

9% 10% ‐83% 17%

120,301

116,123

4%

175,232

174,768

0%

295,533

290,891

2%

12,297 66,035 30,425 8,001 1,692 498 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

12,991 58,007 17,457 8,050 1,638 914 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐

‐5% 14% 74% ‐1% 3% ‐46%

‐ ‐ ‐ ‐ ‐ ‐ 82,221 22,436 19,390 8,644 1,711 944 2,152 108 2,025

‐ ‐ ‐ ‐ ‐ ‐ 77,298 21,231 17,041 8,288 1,629 868 2,058 54 2,046

6% 6% 14% 4% 5% 9% 5% 100% ‐1%

12,297 66,035 30,425 8,001 1,692 498 82,221 22,436 19,390 8,644 1,711 944 2,152 108 2,025

12,991 58,007 17,457 8,050 1,638 914 77,298 21,231 17,041 8,288 1,629 868 2,058 54 2,046

‐5% 14% 74% ‐1% 3% ‐46% 6% 6% 14% 4% 5% 9% 5% 100% ‐1%

118,948 1,353 5,145 6,498 367,967 $ 374,465

99,057 17,066 10,942 28,008 339,959 $ 367,967

20% ‐92% ‐53% ‐77%

258,579 36,954 ‐ 36,954 816,757 $ 853,711

229,570 61,321 ‐ 61,321 755,436 $ 816,757

13% ‐40% ‐ ‐40%

139,631 35,601 (5,145) 30,456 448,790 $ 479,246

130,513 44,255 (10,942) 33,313 415,477 $ 448,790

7% ‐20% ‐53% ‐9%

The City’s governmental activities’ increase in net position of $6.5 million represents a 77% decrease from the prior year’s change in net position and is primarily the result of an increase in capital grants and contributions related to streets and an increase in sales and use tax. In addition, expenses increased by 20% and operating grants and contributions decreased 39%. The business-type activities’ increase in net position of $30.5 million represents an 9% decrease from the prior year’s change in net position which is largely attributable to the increase in expenses and an increase in capital grants and contributions. The results indicate the City, as a whole, experienced an increase in total net position of $37 million which was a combination of revenues exceeding expenses. Governmental Activities To aid in the understanding of the Statement of Activities some additional explanation is given. Of particular interest is the format that is significantly different than a typical Statement of Revenues, Expenses, and Changes in Fund Balance. You will notice that expenses are listed in the first column with revenues from that particular program reported to the right. The result is a Net (Expense)/Revenue. The reason for this kind of format is to highlight the relative financial burden of each of the functions on the City’s taxpayers. It also identifies how much each function draws from the general revenues or if it is selffinancing through fees and grants or contributions. All other governmental revenues are reported as general. It is important to note all taxes are classified as general revenue even if restricted for a specific purpose. For the year ended June 30, 2021, the City’s governmental activities were funded as follows:

15


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

Governmental Activities Uses 1% 0% Public Safety General Government

26%

Culture, parks and recreation

7%

Streets and Highways

56% 10%

Health and Welfare Interest on Long‐Term Debt

Governmental Activities Sources 1% 13% Sales Tax 8%

Other Taxes

3%

Charges for Service Grants 75%

Other

For the year ended June 30, 2021, total expenses for governmental activities amounted to $118.9 million. Of these total expenses, taxes, net transfers and other general revenues funded $100.4 million, while those directly benefiting from the program funded $15 million in grants and other contributions and $9.7 million from charges for services. Besides an increase in sales tax other notable changes for governmental activities include an increase in expenses related to public safety and highways and street operations.

16


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

Governmental-type Activities

General Government Public Safety Streets & Highways Culture, parks and recreation Health and Welfare Interest on long‐term debt TOTAL

TABLE 3 Net Revenue (Expense) of Governmental Activities (In Thousands) % Inc. Net Revenue (Expense) of (Dec.) Total Expense of Services Services 2021 2020 2021 2020 $ 12,297 $ 12,991 ‐5% $ (3,873) $ (4,194) 66,035 58,007 14% (58,523) (45,312) 30,425 17,457 74% (22,544) (14,824) 8,001 8,050 ‐1% (7,649) (6,433) 1,692 1,638 3% (799) (755) 498 914 ‐46% (498) (913) $ 118,948

$ 99,057

20%

$ (93,886)

% Inc. (Dec.) ‐8% 29% 52% 19% 6% ‐45%

$ (72,431)

30%

Business-type Activities

Electric Water Wastewater Sanitation Lake Drainage Golf Cooperative purchasing services Transportation

TOTAL

TABLE 4 Net Revenue (Expense) of Business‐Type Activities (In Thousands) % Inc. Net Revenue (Expense) of (Dec.) Total Expense of Services Services 2021 2020 2021 2020 $ 82,221 $ 77,298 6% $ 10,463 $ 18,151 22,436 21,231 6% 14,611 12,654 19,390 17,041 14% 6,988 4,591 8,644 8,288 4% 2,221 2,390 1,711 1,629 5% (302) (280) 944 868 9% 985 1,009 2,152 2,058 5% 185 (195) 108 54 100% (30) 31 2,025 2,046 ‐1% (601) (417)

$

139,631

$

130,513

7%

$

34,520

$

% Inc. (Dec.)

37,934

The City’s business-type activities include utility services, lake and golf course operations, the operative purchasing program and operations of the transit system. In reviewing the business-type activities net (expense)/revenue, the following highlights should be noted:  

Total business-type activities reported net revenues of $34.5 million for the year ended June 30, 2021. All individual activities reported net revenue for the year ended June 30, 2021 with the exception of lake, cooperative purchasing services and transportation operations.

17

‐42% 15% 52% ‐7% 8% ‐2% ‐195% ‐197% 44%

‐9%


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

A FINANCIAL ANALYSIS OF THE CITY’S FUNDS As the City completed its 2021 fiscal year, the governmental funds reported a combined total fund balance of $87.3 million or a 4.7% decrease from 2020. The enterprise funds reported combined total net position of $467.5 million or a 6.7% increase from 2020. The fund balance constraints and net position restrictions are listed below: Governmental Funds: Fund Balance: Restricted Committed Assigned

$

83,209,058 98,555 5,644,208

Total Fund Balance Constraints Enterprise Funds: Net Position Restrictions: Restricted for debt service $ 22,181,357 Restricted for scholarships 1,601 Restricted for economic development 58,453 Total Enterprise Fund Net Position Restrictions

$

88,951,821

$

22,241,411

Other fund highlights include:  For the year ended June 30, 2021, the General Fund’s total fund balance decreased by $13,586,841 due to an increase in expenditures related to streets and transfers out related to restricted sales tax.  The 2000 Capital Improvement Tax Fund’s total fund balance decreased by $10,404,262 due to an decrease in transfers in from other funds.  The Fire Public Safety Limited Tax Fund’s total fund balance increased by $6,264,220 due to an increase in transfers in.  The Police Public Safety Limited Tax Fund’s total fund balance increased by $5,675,628 due to an increase in transfers in.  All enterprise funds reported an increase in net position, after transfers, for the year ended June 30, 2021 with the exception of Lake, Yourgovshop and CityLink. In each of the enterprise funds mentioned above, charges for services covered operational costs with the exception of Lake.  The employee pension trust fund posted an increase in net position of the fund of $26.8 million. The increase is due to an increase in the investment yields in the market. General Fund Budgetary Highlights Over the course of the year, the City Council revised the General Fund budget various times. Actual revenues and transfers were above final estimates by $6,070,975 or 7.52% which was a result of an increase in sales and use tax collections and transfers in, while expenditures and transfers were under final appropriations by $2,894,949 or 2.80%.

18


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

CAPITAL ASSET AND DEBT ADMINISTRATION Capital Assets At the end of June 30, 2021, the City had $845 million invested in capital assets, net of depreciation, including police and fire equipment, buildings, park facilities, water lines and sewer lines. (See table below). This represents a net increase of $54.8 million or 6.9% over last year. TABLE 5 Primary Government Capital Assets (In Thousands) (Net of accumulated depreciation) Governmental Activities

Land Buildings Imp. Other than buildings Equipment Intangible water rights Utility property Infrastructure Construction in progress Totals

2021 17,743 83,626 19,958 28,096 ‐ ‐ 170,141 33,640

2020 $ 17,743 83,007 20,612 28,153 ‐ ‐ 169,549 21,481

$ 353,204

$ 340,545

$

Business‐Type Activities

$

2021 2,571 22,487 9,274 3,671 10,973 207,931 ‐ 235,352

$ 492,259

$

2020 2,571 23,619 9,357 3,687 11,617 177,564 ‐ 221,730

$ 450,145

Total

$

2021 20,314 106,113 29,232 31,767 10,973 207,931 170,141 268,992

$ 845,463

$

2020 20,314 106,626 29,969 31,840 11,617 177,564 169,549 243,211

$ 790,690

This year’s more significant capital asset additions included: $4.3M $34.3M $18.9M $2.7M $13.4M

Electric Utility improvements Water Utility improvements Wastewater Utility improvements Fleet improvements Street improvements

See Note 3.D. to the financial statements for more detail information on the City’s capital assets and changes therein. Long- Term Debt At year-end, the City had $266 million in long-term debt outstanding which represents a decrease of $1.4 million or 0.5% from the prior year. The City’s changes in long-term debt by type of debt are as follows:

19


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

Primary Government Long‐Term Debt (In Thousands)

Governmental Activities 2021 Accrued absences Revenue bonds Notes payable Totals

$

5,168 13,265 6,015

$ 24,448

Business‐Type Activities

2020 $

4,668 28,406 ‐

$ 33,074

2021 $

Total

2020

898 205,095 35,835

$ 241,828

$

860 216,044 17,742

$ 234,646

Total Percentage Change

2021 $

6,066 218,360 41,850

$ 266,276

2020 $

5,528 244,450 17,742

10% ‐11% 136%

$ 267,720

‐1%

See Note 3.E. to the financial statements for more detail information on the City’s long-term debt and changes therein. ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES State of Oklahoma – Conditions/Projections Combined gross receipts for the past 12 months (November 2020 through October 2021) showed gross revenue totals of $14.7 billion which is $1.48 billion, or 11.2 percent above collections from the previous 12-month period. The medical marijuana industry continues to grow with $66.3 million generated in taxes, up by $13.9 million or 26.5 percent from prior period collections. All major revenue sources increased over the past twelve months. Gross income tax collections of $5.12 billion are up $368.7 million or 7.8 percent. Combined sales and use taxes generated $6.09 billion an increase of $633.6 million or 11.6 percent. Oil and gas gross production tax collections generated $993.8 million, up by $308.6 million or 45 percent. Motor vehicle collections total $852.2 million, an increase of $76.2 million or 9.8 percent. Other sources generated $1.64 billion, up by $96.6 million or 6.3 percent. Per the October 2021 Economic Report from the Oklahoma State Treasurer’s office, since August of 2021 oil prices have risen 20 percent and natural gas prices have risen 35 percent. During the last twelve months, the number of active rigs has increased by more than 238 percent from 13 to 44 as of December 3, 2021. The September Oklahoma unemployment rate was reported at 3.0 percent by the U.S. Bureau of Labor Statistics. The state’s jobless rate was down from 3.3 percent in August and from 5.7 percent in September 2020. The U.S. unemployment rate was 4.8 percent in August. The Oklahoma Business Conditions Index in October indicates anticipated economic growth in the coming months. The October index was set at 63.0, up from 58.6 in September. Numbers above 50 suggest economic expansion is expected during the next three to six months.

20


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

City of Edmond Economic Highlights:

Local Sales and Use Tax City sales and use tax collections are the main source of revenue for the general operations of the City of Edmond. Following are summaries of collections committed to the General Fund by type for the FY 20-21 and year to date (YTD) for FY 21-22. Sales Tax: Sales tax collections for FY 20-21 were up, ending the fiscal year at an overall net increase of 6.61% over the prior year. YTD collections (through November 2021) for FY 21-22 are up from FY 20-21 by 7.40%.

GENERAL SALES TAX COLLECTIONS DATA Year-to-Date Comparison FY 19-20 Actuals

FY 20-21 Actuals

NOVEMBER '20 DECEMBER JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER '21 TOTAL

$2,966,605 $3,198,525 $3,101,447 $2,718,985 $2,812,807 $3,194,367 $3,152,644 $3,104,384 $2,978,302 $3,090,389 $3,154,393 $2,831,629 $36,304,477

$3,297,490 $3,275,486 $3,328,503 $2,850,827 $2,833,415 $3,095,772 $2,939,865 $3,229,310 $3,195,713 $3,229,060 $3,389,629 $3,146,192 $37,811,263

$3,290,003 $3,487,684 $3,359,555 $3,202,314 $2,900,502 $3,655,777 $3,546,565 $3,353,130 $3,460,518 $3,309,487 $3,407,002 $3,336,648 $40,309,186

% Change from previous year

MONTHS

FY 18-19 Actuals

Series1

FY 21-22 Actuals

YTD Change % Change (FY 22) 6.05% ‐0.23% 6.48% 0.93% 12.33% 2.37% 18.09% 20.64% 8.76% 3.92% 9.98% 7.84% 6.64%

$3,646,951 $3,596,078 $3,639,769 $3,674,216 $3,558,086 $18,115,100

Cumulative YTD Change 7.40%

SALES TAX COLLECTIONS 18.09%

20.64%

12.33%

9.98%

8.76%

7.84%

6.48%

6.05%

0.93%

6.64%

3.92%

2.37%

‐0.23% NOVEMBER '20

DECEMBER

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER '21

6.05%

‐0.23%

6.48%

0.93%

12.33%

2.37%

18.09%

20.64%

8.76%

3.92%

9.98%

7.84%

6.64%

Months

21


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

Use Tax: Use tax collections for FY 20-21 were strong, ending the fiscal year at an overall net increase of 24.63% over the prior year. YTD collections (through November 2021) for FY 21-22 are up from FY 20-21 by 14.78%.

Combined Sales and Use Tax: Combined sales and use tax for FY 20-21 ended with total collections of $53,383,974 which was an overall net increase of 10.52% over the prior year. YTD combined collections (through November 2021) for FY 21-22 are up from FY 20-21 by 9.09%.

22


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

City of Edmond’s FY 21-22 Budget The City’s FY 21-22 direct cost budget is $364,637,696, an increase of $43,566,925 or 13.57% from FY 20-21. The increase is primarily due to recovery from and return to more normal economic activity after the COVID-19 pandemic. Budget historical highlights: Three sales taxes were approved by voters in 2000. They included designated sales tax to Public Safety and capital projects. The Fire Department receives a quarter-cent tax, the Police department receives a oneeighth-cent tax and capital improvements receive a three-quarter-cent tax. The net result is almost twothirds of the General Fund revenue is automatically allocated to fire and police operations. Edmond total sales tax rate remains at 8.25%. This rate is comprised of 3.75% local tax and 4.5% state tax. Of the four largest cities in the Oklahoma City metro area, Edmond has the lowest combined sales tax rate. In November of 2021, voters approved a temporary 0.25% sales tax to purchase land adjacent to and south of Hafer Park. This temporary sales tax will be effective January 1, 2022 through December 31, 2022. During that period, the Edmond total sales tax rate will be 8.50%.

23


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

In April 2016, voters approved two sales tax extensions through March 31, 2027. A one percent General Fund Sales Tax Extension and a one-half percent Public Safety Center Tax that was extended for Capital Improvements. The City Council created a Capital Improvements Advisory Tax Force to examine the funding of major capital projects. Effective April 1, 2017, a 0.5% sales tax rate began collecting funds for the 2017 Capital Improvement Fund. In October of 2017, the Edmond Public Works Authority (EPWA) issued $167,025,000 in Sales Tax and Utility System Revenue bonds. Improvements to be funded by this project primarily consist of a new Wastewater Treatment Recovery Facility that will allow the City to serve expected growth for a 20-year period and to satisfy permit requirements established by the Oklahoma Department of Environmental Quality. Water and wastewater systems are dealing with the need for significant improvements which are outlined in the Master Plan document which can be found online at the link listed below. http://edmondok.com/DocumentCenter/View/2241 The EPWA has planned the construction of a new water treatment facility at a cost of approximately $200 million. Funding is through the Oklahoma Water Resources Board (OWRB) State Revolving Fund (SRF) program that provides low interest loans to communities. The new facility is intended to eventually allow the City to provide an ample, safe water supply to Edmond residents while no longer relying on the purchase of water from Oklahoma City. Interim plans for additional water wells are in place to supplement the local City water supply. Plans are in place to begin the construction of the new water facility and the drilling of additional wells in the near future. The latest details of City water improvement plans can be found at https://www.edmondok.com/DocumentCenter/View/5887/Water-System-Master-Plan-Update---March2021 Capital Improvement Funds: The City has two primary Capital Improvement Funds: the 2000 Capital Improvement Project (CIP) fund and the 2017 Capital Improvement Project (CIP) fund. Recently Completed Projects: The Gracelawn Cemetery Expansion was completed in the Fall of 2021. This project was the first phase of the master plan developed in 2017 at a total cost of $3.3 million. The expansion provides a columbaria and burial plot needs for the next 20 years. The Route 66 Trail is a 2.44 mile ODOT-led project that runs from Midwest Blvd to Post Rd near Route 66. In addition to the trail, two parking lots are open as of October, 2021. ITS Phase II consisted of installing fiber optic cable and replacing the traffic signal cabinets and controllers and associated signal equipment at 22 intersections on portions of Broadway, Danforth, Covell and Santa Fe. These intersections connect to the existing traffic Management Center via fiber optics and wireless communication network to improve mobility and safety. This project is complete in the Winter of 2021.

24


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

2000 CIP Fund: The 2000 CIP fund continues to provide the primary financing for capital improvements in Edmond. This three-quarter-cent tax was initially approved by voters in 1996 and indefinitely extended in 2000. The total capital projects budget for FY 21-22 in this fund is approximately $47 million. When we conduct citizen surveys, traffic is the highest-ranking priority. Our budget priority designates substantial resources to traffic alleviation. For FY 21-22 over $29 million is budgeted. Approximately $18 million is budgeted from the 2000 CIP fund and an additional $11 million from the 2017 CIP fund. Reconstruction of streets, improvements to intersections, streets, and traffic signals are part of this ongoing project of continuous improvement. The work includes increasing the traffic capacity of some of highvolume intersections, street widening and building out our Intelligent Traffic System. (This work involves the installation of fiber optic cable to connect our traffic light equipment with a central control center.) This project will improve traffic safety and mobility during congested periods, constructions activities, traffic collisions, and other emergencies. Almost a complete reconstruction will occur at Kickingbird Golf Course. This project is anticipated to cost a total of $18 million, with $14 million to replace the 50-year-old clubhouse, build new meeting facilities that include a banquet room and full-service restaurant, expand a short game practice area, provide a new indoor teaching facility, and expand parking. An additional $4 million will go to reconstruction of the golf greens and to the replacement of the irrigation system. This project was initiated during the summer of 2021. Resources have been set aside to work with our newly established Tax Increment Financing District to fund infrastructure construction or development assistance for improvement projects in Downtown Edmond. FY 21-22 has $4 million budgeted for these activities. FY 21-22 funds of approximately $6 million are budgeted for the expansion of our Cross Timbers Facility. Growth in our population has caused similar growth in support services needed to address the increased demand on our Public Works department. 2017 CIP Fund: The total capital projects budget for FY 21-22 for this fund is approximately $25.5 million. Park improvements of approximately $8.9 million are planned. Stephenson Park upgrades to provide more open space to Edmond residents include an amphitheater, picnic tables and an improved pavilion at a budgeted FY 21-22 cost of $1.8 million. Improvements to the Service-Blake Soccer Complex include upgrades to improve traffic flow, concession facilities, restrooms, lighting, pedestrian walkways, spectator shade, turf, and fencing at a budgeted FY 21-22 cost of $2.8 million. (The Soccer Complex improvements are a multi-year plan and additional funds are budgeted in future years to complete.) Hafer Park/ AC Caplinger Baseball Fields: Renovations of these fields to tournament quality are planned to allow the City to participate in the tournament market and provide a higher quality facility for our recreational league. The

25


CITY OF EDMOND, OKLAHOMA MANAGEMENT’S DISCUSSION & ANALYSIS June 30, 2021

construction will occur in 3 phases to allow play to continue. The first phase will begin in January of 2022 and include adding new parking; all 3 phases are anticipated to be complete by prior to the 2023 season. Budgeted FY 21-22 costs are $3.3 million. FY 21-22 funds of $5 million have been budgeted to begin design and land acquisition for a Second Library to be located along the I-35 corridor. This will be a partnered project with the YMCA and the County Library System.

CONTACTING THE CITY’S FINANCIAL MANAGEMENT TEAM: This financial report is designed to provide our citizens, customers and creditors with a general overview of the City’s finances and to provide transparency and accountability for the revenues received by the City. If you have questions or require additional explanation regarding information provided in this report, please contact the Finance office at 7 N Broadway Edmond, OK 73034, P.O. Box 2970, Edmond, OK 730832970 or call the Finance office at 405-359-4521. We are happy to discuss any comments or concerns you may have.

26


BASIC FINANCIAL STATEMENTS



CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021 City of Edmond, Oklahoma Statement of Net Position June 30, 2021 Primary Government Governmental Activities ASSETS Current Assets: Cash and equivalents Investments Restricted assets: Cash and equivalents Investments Accrued interest receivable Accounts receivable, net of allowance Internal balances Notes receivable Due from other governments Inventory Total Current Assets Non-current Assets: Restricted assets: Cash and equivalents Investments Capital Assets: Non-depreciable Depreciable, net of depreciation Total Non-current Assets

$

$

8,936,762 1,557,529 367,516 1,513,243 (27,317,402) 14,112,538 1,197,897 129,690,093

Total Assets DEFERRED OUTFLOWS OF RESOURCES Deferred amount on refunding Deferred amounts related to pension Deferred amounts related to OPEB Total deferred outflow of resources LIABILITIES Current Liabilities: Accounts payable and other accrued expenses Accrued interest payable Amounts held in escrow Matured revenue bonds payable Meter deposit liability Unearned revenue Current portion: Notes payable Revenue bonds payable Compensated absences Estimated liability for claims Total Current Liabilities Non-current Liabilities: Compensated absences Meter deposit liability Total OPEB liability Net pension liability Revenue bonds payable, net Notes payable Claims and judgments Total Non-current Liabilities Total Liabilities DEFERRED INFLOWS Deferred amount on refunding Deferred amounts related to pension Deferred amounts related to OPEB Total deferred inflow of resources NET POSITION Net investment in capital assets Restricted by: Enabling legislation Statutory requirements External contracts Unrestricted (deficit) Total Net Position

17,263,969 112,058,041

Business-type Activities

$

23,631,851 149,310,141

Component Units Historic Economic Preservation Development Trust Authority

Total

$

40,895,820 261,368,182

$

40,278 -

$

467,569 -

34,842,878 5,736,877 534,294 21,335,488 27,317,402 325,599 3,668,354 266,702,884

43,779,640 7,294,406 901,810 22,848,731 14,438,137 4,866,251 396,392,977

40,278

41,683 658 110,917 620,827

3,789,150 1,389,828

14,701,369 5,999,720

18,490,519 7,389,548

-

-

51,383,178 301,820,950 358,383,106

237,922,904 254,336,034 512,960,027

289,306,082 556,156,984 871,343,133

100,450 17,167 117,617

11,256 11,256

488,073,199

779,662,911

1,267,736,110

157,895

632,083

253,241 28,026,682 1,373,897 29,653,820

136,486 4,114,286 314,524 4,565,296

389,727 32,140,968 1,688,421 34,219,116

-

247,587 39,058 286,645

14,703,483 345,756 706,585 5,389,496 6,387,510

23,218,272 4,616,798 968,067 115,877

37,921,755 4,962,554 706,585 5,389,496 968,067 6,503,387

-

6,176 -

3,333,323 3,375,000 516,803 1,331,224 36,089,180

3,284,035 5,936,035 89,807 38,228,891

6,617,358 9,311,035 606,610 1,331,224 74,318,071

-

4,010 10,186

4,651,195 6,458,459 76,091,184 10,881,578 2,681,480 1,411,076 102,174,972

808,254 5,004,883 1,545,733 9,428,435 216,702,407 32,550,966 266,040,678

5,459,449 5,004,883 8,004,192 85,519,619 227,583,985 35,232,446 1,411,076 368,215,650

-

36,089 41,047 341,008 418,144

138,264,152

304,269,569

442,533,721

-

428,330

310,864 4,025,856 660,731 4,997,451

145,301 439,063 128,523 712,887

456,165 4,464,919 789,254 5,710,338

-

87,039 4,278 91,317

335,350,062

262,729,475

598,079,537

117,617

11,256

8,361,373 2,863,453 74,332,459 (46,441,931) 374,465,416

22,181,357 194,334,919 479,245,751

8,361,373 2,863,453 96,513,816 147,892,988 853,711,167

40,278 157,895

41,683 346,142 399,081

$

$

See accompanying notes to the basic financial statements.

27

$

$


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

City of Edmond, Oklahoma Statement of Activities For the Year Ended June 30, 2021

Functions/Programs Primary government Governmental Activities General government Public safety Streets and highways Cultural, parks and recreation Health and welfare Interest on long-term debt Total governmental activities

$

Business-type activities Electric operations Water operations Wastewater operations Sanitation operations Lake operations Drainage operations Golf course operations Cooperative purchasing services Transportation operations Total business-type activities Total primary government Component Units Cultural, parks and recreation Economic development Total component units

Charges for Services

Expenses

12,296,879 66,034,587 30,424,648 8,001,352 1,692,397 498,068 118,947,931

$

82,220,622 22,436,008 19,390,094 8,644,569 1,711,494 943,544 2,152,214 107,883 2,024,757 139,631,185

7,425,298 1,312,023 10,897 100,800 893,145 9,742,163

Program Revenue Operating Grants and Contributions

$

92,536,791 33,456,401 23,181,608 10,865,397 1,405,474 1,928,640 2,337,159 77,812 12,000 165,801,282

998,488 6,145,028 922,033 28,528 8,094,077

Capital Grants and Contributions

Governmental Activities

$

$

55,369 6,947,942 222,592 7,225,903

146,985 219 3,675 1,326,694 1,477,573

258,579,116

$

175,543,445

$

9,571,650

$

14,098,316

$

36,211 879,568 915,779

$

14,901 14,901

$

150,000 150,000

$

-

$

$

$

(3,873,093) (58,522,167) (22,543,776) (7,649,432) (799,252) (498,068) (93,885,788)

3,590,340 3,196,595 85,478 6,872,413

$

$

Net (Expense) Revenue and Changes in Net Position Component Units Primary Government Historic Economic Business-type Preservation Development Activities Total Trust Authority

$

(93,885,788)

General revenues: Taxes: Sales and use taxes Sales and use taxes - Restricted for public safety Sales and use taxes - Restricted for park and recreation Sales and use taxes - Restricted for capital improvements Hotel/motel taxes Franchise taxes Payment from City of Edmond Taxes not restricted to specific programs Unrestricted investment earnings Miscellaneous Transfers Total general revenues and transfers Change in net position Net position - beginning

54,024,096 17,806,528 2,543,858 15,263,151 487,155 2,027,462 1,299,274 406,854 1,380,056 5,145,627 100,384,061 6,498,273 367,967,143

Net position - ending

$

374,465,416

See accompanying notes to the basic financial statements.

28

-

$

10,463,154 14,610,952 6,988,109 2,220,828 (302,345) 985,096 184,945 (30,071) (600,585) 34,520,083

10,463,154 14,610,952 6,988,109 2,220,828 (302,345) 985,096 184,945 (30,071) (600,585) 34,520,083

34,520,083

(59,365,705)

1,078,913 2,000 (5,145,627) (4,064,714) 30,455,369 448,790,382 $

(3,873,093) (58,522,167) (22,543,776) (7,649,432) (799,252) (498,068) (93,885,788)

479,245,751

$

853,711,167

$

-

54,024,096 17,806,528 2,543,858 15,263,151 487,155 2,027,462 1,299,274 1,485,767 1,382,056 96,319,347 36,953,642 816,757,525 $

-

$

-

-

(36,211) (36,211)

(714,667) (714,667)

22,917 27 2,468 25,412 (10,799) 168,694

639,835 4,303 644,138 (70,529) 469,610

157,895

$

399,081


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

City of Edmond, Oklahoma Balance Sheet Governmental Funds June 30, 2021

General Fund ASSETS Cash and cash equivalents Investments Due from other funds Due from other governments Accrued interest receivable Other receivables Interfund loan receivable Total assets

$

$

LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES Liabilities: Accounts payable $ Due to other funds Unearned revenue Matured revenue bonds payable Amounts held in escrow Total liabilities Deferred Inflows of Resources: Unavailable revenue Total deferred inflows of resources Fund balances: Restricted Committed Assigned Unassigned (deficit) Total fund balances Total liabilities, deferred inflows and fund balances

856,763 1,295,675 747 8,395,932 4,462 1,105,992 11,659,571

$

1,303,454 7,509,537 16,852 706,585 9,536,428

$

$

564,915 564,915

$

3,014,106 (1,455,878) 1,558,228 11,659,571

Police Public Safety Limited Tax Fund

Fire Public Safety Limited Tax Fund

$

2,821,927 18,470,173 783,664 63,609 22,139,373

1,054,979 1,054,979

$

$

$

1,995,797 13,062,957 433,352 44,988 213 15,537,307

1,684,343 747 1,685,090

2000 Capital Improvement Tax Fund $

$

$

14,386,803 13,818,331 2,350,991 42,802 30,598,927

$

2,766,279 8,000,000 5,735,252 16,501,531

$

33,184 33,184

21,956 21,956

20,890 20,890

19,388,310 1,662,900 21,051,210 22,139,373

11,246,141 2,584,120 13,830,261 15,537,307

14,076,506 14,076,506 30,598,927

$

See accompanying notes to the basic financial statements.

29

$

Other Governmental Funds

$

Total Governmental Funds

4,973,628 37,090,248 73,470 1,959,159 84,918 99,850 44,281,273

$

926,109 115,826 6,370,658 7,412,593

$

$

50,475 50,475

$

35,483,995 98,555 1,397,188 (161,533) 36,818,205 44,281,273

25,034,918 83,737,384 74,217 13,923,098 240,779 1,205,842 213 124,216,451

7,735,164 15,626,110 6,387,510 5,735,252 706,585 36,190,621

691,420 691,420

$

83,209,058 98,555 5,644,208 (1,617,411) 87,334,410 124,216,451


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021 City of Edmond, Oklahoma Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position June 30, 2021 Total fund balance, governmental funds

$

87,334,410

Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets used in governmental activities are not current financial resources and therefore are not reported in the funds, net of accumulated depreciation of $295,682,866

330,092,778

Certain other long-term assets are not available to pay current fund liabilities and therefore they, along with deferred outflows, are deferred or not reported in the funds: Accrued interest receivable Other receivables, net of allowance Pension related deferred outflows OPEB related deferred outflows Deferred amount on refunding

128,683 562,737 20,926,862 723,533 253,241

Certain long-term liabilities are not due and payable from current financial resources and therefore they, along with deferred inflows, are not reported in the funds: Revenue bonds payable Notes payable Accrued compensated absences Unamortized debt premium Net pension liability Pension related deferred inflows Total OPEB liablity OPEB related deferred inflows Advance rental Deferred amount on refunding

(13,265,000) (6,014,803) (3,796,600) (991,578) (60,564,579) (2,956,313) (3,773,771) (315,259) (3,923,838) (310,864)

Internal service funds are used by management to charge costs of certain activities that benefit multiple funds, such as self-insurance, vehicle maintenance, and other such costs, to individual funds. The assets and liabilities of certain of these internal service funds are reported in governmental activities in the Statement of Net Position: Internal service funds' net position Internal service fund interfund balance resulting from net revenues reported in business-type activities

Net Position of Governmental Activities in the Statement of Net Position

42,121,286 (11,765,509)

$

See accompanying notes to the basic financial statements.

30

374,465,416


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

City of Edmond, Oklahoma Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds For the Year Ended June 30, 2021 Fire Public Safety Limited Tax Fund

General Fund REVENUES Sales and use taxes Franchise and public service taxes Hotel/motel taxes Intergovernmental Charges for services Fines and forfeitures Licenses and permits Investment income Miscellaneous Total revenues

$

EXPENDITURES Current: General government Public safety Health and sanitation Culture, parks and recreation Streets and highways Debt Service: Principal Interest and other charges Capital Outlay Total Expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Proceeds from long-term debt Transfer to escrow agent Transfers in Transfers out Total other financing sources and uses Net change in fund balances Fund balances - beginning Fund balances - ending

$

54,024,096 2,027,462 2,352,820 6,204,792 1,260,602 1,268,230 9,033 196,706 67,343,741

$

5,087,717 6,653,074 19,670 78,270 44,916 11,883,647

Police Public Safety Limited Tax Fund $

2,543,858 3,664,298 47,250 457,560 6,712,966

2000 Capital Improvement Tax Fund $

15,263,151 212,083 408,383 15,883,617

Other Governmental Funds

Total Governmental Funds

$

$

12,718,811 487,155 899,768 952,006 57,853 385,173 15,500,766

89,637,633 2,027,462 487,155 13,569,960 7,176,468 1,260,602 1,268,230 404,489 1,492,738 117,324,737

7,446,257 3,529,081 779,538 4,163,828 18,317,409

26,846,011 -

27,131,099 -

631,737 -

701,318 224,057 700,813 1,263,791 -

8,779,312 57,730,248 1,480,351 5,427,619 18,317,409

1,359,626 35,595,739

130,770 26,976,781

1,050,859 28,181,958

5,389,496 843,076 14,731,507 21,595,816

7,853,299 10,743,278

5,389,496 843,076 25,126,061 123,093,572

31,748,002

(15,093,134)

(21,468,992)

(5,712,199)

4,757,488

(5,768,835)

19,996,877 (65,331,720) (45,334,843) (13,586,841)

21,357,354 21,357,354 6,264,220

989,267 26,198,353 (43,000) 27,144,620 5,675,628

5,610,032 (10,302,095) (4,692,063) (10,404,262)

3,610,824 (643,061) 2,967,763 7,725,251

6,599,299 (10,302,095) 71,163,408 (66,017,781) 1,442,831 (4,326,004)

15,145,069

14,786,990

8,154,633

24,480,768

1,558,228

$

21,051,210

$

13,830,261

$

See accompanying notes to the basic financial statements.

31

14,076,506

29,092,954 $

36,818,205

91,660,414 $

87,334,410


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

City of Edmond, Oklahoma Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities For the Year Ended June 30, 2021

Net change in fund balances - total governmental funds:

$

(4,326,004)

Amounts reported for Governmental Activities in the Statement of Activities are different because: Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense to allocate those expenditures over the life of the assets: Capital asset purchases capitalized Capital assets donated Depreciation expense Disposal of capital assets

24,763,411 6,947,942 (19,036,885) (42,291)

In the Statement of Activities, the cost of pension benefits earned net of employee contributions is reported as an element of pension expense. The fund financial statements report pension contributions as expenditures.

(6,989,031)

Governmental funds report bond premiums as revenue while governmental activities report amortization those expenditures over the term of the bonds: Amortization expense

345,008

Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds: Advance Grants Court Interest

311,828 (5,606,402) (145,412) 2,365

Bond proceeds provide current financial resources to governmental funds, but issuing debt increases long-term liabilities in the Statement of Net Position. Repayment of debt principal is an expenditure in the governmental funds, but the repayment reduces long-term liabilities in the Statement of Net Position: Debt principal payment Note proceeds Note proceeds transferred to escrow agent

5,389,496 (6,599,299) 10,302,095

Some expenses reported in the statement of activities do not require the use of current financial resources and these are not reported as expenditures in governmental funds: Accrued compensated absences change Total OPEB liability change

(379,132) (211,379)

Internal service fund activity is reported as a proprietary fund in the fund financial statements, but certain net revenues are reported in governmental activities on the statement of Activities: Total change in net position for internal service funds Net revenues of internal service funds reported in business-type activities Change in net position of governmental activities See accompanying notes to the basic financial statements.

32

2,818,632 (1,046,669) $

6,498,273


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

City of Edmond, Oklahoma Statement of Net Position Proprietary Funds June 30, 2021 Edmond Public Works Authority (EPWA) Enterprise Funds

Electric Fund ASSETS Current assets: Cash and cash equivalents $ 6,938,982 Investments 39,742,513 Restricted assets: Cash and cash equivalents Investments 5,530,069 Receivables: Accrued interest receivable 155,744 Utility billing, net of allowance for uncollectible accounts 13,420,582 Due from other governments Other receivables 503,056 Due from other funds 15,945,515 Inventories 3,646,573 Total current assets 85,883,034 Non-current assets: Restricted assets: Cash and cash equivalents 12,890 Investments Capital Assets: Nondepreciable 1,458,767 Depreciable, net of accumulated depreciation 45,657,388 Total non-current assets 47,129,045 Total assets 133,012,079 DEFERRED OUTFLOWS OF RESOURCES Deferred amount on refunding Deferred amounts related to pensions Deferred amounts related to OPEB Total deferred outflows of resources LIABILITIES Current Liabilities: Accounts payable Salaries payable Accrued interest payable Due to other funds Current portion: Compensated absences Claims and judgments Notes payable Revenue bonds payable Unearned revenue Meter deposit liability Total current liabilities Non-current liabilities: Compensated absences Meter deposit liability Claims and judgments Total OPEB liability Net pension liability Notes payable Revenue bonds payable, net Total non-current liabilities Total liabilities DEFERRED INFLOW OF RESOURCES Deferred amounts related to pensions Deferred amounts related to OPEB Deferred amounts on refunding Total deferred inflow of resources NET POSITION Net investment in capital assets Restricted for debt service Restricted for scholarships Restricted for other purposes Unrestricted Total net position

$

Wastewater Fund

Water Fund

$

9,954,938 65,157,398

$

3,211,662 21,021,084

Other Enterprise Funds

$

3,526,269 23,389,146

Total

$

23,631,851 149,310,141

Internal Service Funds

$

4,694,836 29,732,648

4,579,881 194,888

29,701,184 11,920

561,813 -

34,842,878 5,736,877

-

224,959 3,511,511 132,447 83,756,022

72,499 2,470,997 85,211 56,574,557

81,092 1,372,979 325,599 56,363 53,363 21,781 29,388,405

534,294 20,776,069 325,599 559,419 16,216,536 3,668,354 255,602,018

107,759 189,440 326,379 1,197,684 36,248,746

2,085,424 -

12,257,527 5,999,720

345,528 -

14,701,369 5,999,720

237,964 1,557,529

54,271,981 102,428,349 158,785,754 242,541,776

180,158,835 95,404,101 293,820,183 350,394,740

2,033,321 10,846,196 13,225,045 42,613,450

237,922,904 254,336,034 512,960,027 768,562,045

797,315 22,314,035 24,906,843 61,155,589

2,279 1,832,466 111,040 1,945,785

113,433 817,370 66,333 997,136

402,481 32,898 435,379

20,774 1,061,969 104,253 1,186,996

136,486 4,114,286 314,524 4,565,296

7,099,820 650,364 7,750,184

7,058,701 294,522 3,461 -

8,016,453 134,612 506,211 -

6,606,754 63,315 4,077,363 -

838,956 204,959 29,763 664,643

22,520,864 697,408 4,616,798 664,643

1,865,980 1,178,501 -

40,676 33,851 22,916 967,567 8,421,694

16,755 3,148,743 1,510,983 13,333,757

9,829 78,861 4,097,932 14,934,054

22,547 22,580 304,204 115,877 500 2,204,029

89,807 3,284,035 5,936,035 115,877 968,067 38,893,534

137,143 1,331,224 4,512,848

366,080 5,004,883 570,555 4,300,237 56,905 114,867 10,413,527 18,835,221

150,790 330,429 1,809,509 32,323,533 8,872,944 43,487,205 56,820,962

88,457 151,874 875,727 132,570 206,763,075 208,011,703 222,945,757

202,927 492,875 2,442,962 37,958 951,521 4,128,243 6,332,272

808,254 5,004,883 1,545,733 9,428,435 32,550,966 216,702,407 266,040,678 304,934,212

1,234,255 1,411,076 2,684,688 15,526,605 20,856,624 25,369,472

123,245 42,308 5,835 171,388

104,236 28,192 121,979 254,407

33,788 13,392 13,595 60,775

177,794 44,631 3,892 226,317

439,063 128,523 145,301 712,887

1,069,543 345,472 1,415,015

46,884,010 4,216 58,453 69,004,576 115,951,255

111,906,712 5,275,466 69,281,365 186,463,543

92,358,617 15,988,930 19,476,040 127,823,587

11,580,136 912,745 1,601 24,747,375 37,241,857

$

262,729,475 22,181,357 1,601 58,453 182,509,356 467,480,242

23,112,070 1,995,784 17,013,432 42,121,286

$

479,245,751

$

$

$

Some amounts reported for business-type activities in the Statement of Net Position are different because certain internal service fund balances are included with business-type activities and reported as interfund balances Total net position per Government-Wide financial statements See accompanying notes to the basic financial statements.

33

11,765,509

$


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

City of Edmond, Oklahoma Statement of Revenues, Expenses and Changes in Fund Net Position Proprietary Funds For the Year Ended June 30, 2021 Edmond Public Works Authority (EPWA) Enterprise Funds

Electric Fund OPERATING REVENUES Charges for services Permits and other fees Operating grants and contributions Miscellaneous Total operating revenues

$

OPERATING EXPENSES Personal services Materials and supplies Wholesale electricity purchases Maintenance, operations and contractual services Insurance premium expense Claims expense Depreciation Total Operating Expenses Operating income

92,533,246 15,416 13,071 92,561,733

Wastewater Fund

Water Fund $

32,042,501 1,290,237 219 122,849 33,455,806

$

22,226,490 743,870 22,970,360

Other Enterprise Funds $

16,421,985 1,415,073 205,193 18,042,251

Total $

163,224,222 2,034,107 1,430,708 341,113 167,030,150

Internal Service Funds $

72,413,727 927,503 255,024 73,596,254

6,293,281 1,709,724 59,004,060 11,598,603 3,630,201 82,235,869 10,325,864

2,750,327 791,834 10,067,104 7,926,773 21,536,038 11,919,768

1,349,755 287,847 6,437,433 3,845,375 11,920,410 11,049,950

4,144,134 1,262,043 10,726,214 311,212 16,443,603 1,598,648

14,537,497 4,051,448 59,004,060 38,829,354 15,713,561 132,135,920 34,894,230

23,569,733 3,482,185 28,740,183 1,985,925 10,516,919 2,720,016 71,014,961 2,581,293

317,752 122,043 (4,538) 435,257 10,761,121 920,843 (4,067,935) 7,614,029 108,337,226 115,951,255

480,888 210,140 (994,043) (303,015) 11,616,753 3,590,340 15,117,285 (16,563,754) 13,760,624 172,702,919 186,463,543

199,998 1,922 (7,506,710) (7,304,790) 3,745,160 3,196,595 83 (924,207) 6,017,631 121,805,956 127,823,587

80,275 2,078 (8,075) (28,568) 45,710 1,644,358 748,508 (376,450) 2,016,416 35,225,441 37,241,857

$

1,078,913 336,183 (8,075) (8,533,859) (7,126,838) 27,767,392 6,786,935 16,786,719 (21,932,346) 29,408,700 438,071,542 467,480,242

129,136 170,727 (62,524) 237,339 2,818,632 2,818,632 39,302,654 42,121,286

Change in net position, per above Some amounts reported for business-type activities in the Statement of Activities are different because the net revenue of certain internal service funds is reported with business-type activities

$

29,408,700

Change in Business-Type Activities in Net Position per Government-Wide Financial Statements

$

NON-OPERATING REVENUES (EXPENSES) Interest and investment revenue Miscellaneous revenue Gain (Loss) on capital asset disposal Interest expense Total non-operating revenue (expenses) Income before contributions and transfers Capital contributions Transfers in Transfers out Change in net position Total net position - beginning Total net position - ending

$

$

$

See accompanying notes to the basic financial statements.

34

$

1,046,669 30,455,369

$


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

City of Edmond, Oklahoma Statement of Cash Flows Proprietary Funds For the Year Ended June 30, 2021 Edmond Public Works Authority (EPWA) Enterprise Funds

Electric Fund CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers Payments to suppliers Payments to employees Receipts of customer meter deposits Payment of customer meter deposits Claims and judgments paid Interfund payments Interfund receipts Net cash provided by operating activities

$

93,270,745 (71,237,959) (5,758,505) 1,664,456 (842,928) (7,580,342) 9,515,467

Wastewater Fund

Water Fund $

34,322,768 (4,623,687) (2,507,800) (32,311) 4,063 27,163,033

$

22,741,602 (6,977,378) (1,211,705) (7,347) 14,545,172

Other Enterprise Funds

Total Enterprise Funds

Internal Service Funds

$

$

$

18,057,047 (11,798,653) (3,867,687) (3,563) 68,431 2,455,575

168,392,162 (94,637,677) (13,345,697) 1,664,456 (842,928) (7,623,563) 72,494 53,679,247

74,138,540 (33,351,796) (21,480,561) (10,689,096) 8,617,087

CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers from other funds Transfer to other funds Net cash provided by (used in) noncapital financing activities

920,843 (4,067,935) (3,147,092)

15,117,285 (16,563,754) (1,446,469)

83 (924,207) (924,124)

748,508 (376,450) 372,058

16,786,719 (21,932,346) (5,145,627)

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase of capital assets Proceeds from sale of capital assets Proceeds from issuance of capital debt Transfer to escrow agent for refunded debt Principal paid on capital debt Interest paid on capital debt Net cash provided by (used in) capital and related financing activities

(4,282,534) 90,756 (177,690) (71,303) (18,331) (4,459,102)

(30,669,537) 19,656,713 (3,714,602) (4,281,363) (1,241,282) (20,250,071)

(15,773,823) 211,431 (413,960) (4,076,945) (8,247,509) (28,300,806)

(324,579) 60,538 (118,526) (281,722) (54,745) (719,034)

(51,050,473) 20,019,438 (4,424,778) (8,711,333) (9,561,867) (53,729,013)

(2,958,687) 149,630 (2,809,057)

CASH FLOWS FROM INVESTING ACTIVITIES Purchases of investments Sale of investments Interest and dividends Net cash provided by (used in) investing activities

(7,708,399) 959,826 (6,748,573)

(14,155,445) 1,355,269 (12,800,176)

20,605,602 993,741 21,599,343

(5,022,059) 246,616 394,388 (4,381,055)

(26,885,903) 20,852,218 3,703,224 (2,330,461)

(1,774,366) (6,829,032) 506,725 (8,096,673) (2,288,643)

Net increase (decrease) in cash and cash equivalents Balances-beginning of year Balances-end of year

Reconciliation to Combining Statement of Net Position: Cash and cash equivalents Restricted cash and cash equivalents Restricted cash and cash equivalents, non-current Total cash and cash equivalents, end of year

(7,333,683)

6,919,585

(2,272,456)

(7,525,854)

23,953,926

38,250,788

6,706,066

80,701,952

7,221,443

$

6,951,872

$

16,620,243

$

45,170,373

$

4,433,610

$

73,176,098

$

4,932,800

$

6,938,982 12,890 6,951,872

$

$

$

23,631,851 34,842,878 14,701,369 73,176,098

$

$

3,526,269 561,813 345,528 4,433,610

$

$

3,211,662 29,701,184 12,257,527 45,170,373

$

$

9,954,938 4,579,881 2,085,424 16,620,243

$

4,694,836 237,964 4,932,800

10,325,864

$

11,919,768

$

11,049,950

$

1,598,648

$

34,894,230

$

2,581,293

$

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 expense Miscellaneous non-operating revenue (expense) Change in assets and liabilities: Receivables, net Other receivable Inventories Due from other governments Due from other funds Deferred outflows related to pension Deferred outflows related to OPEB Accounts and other payables Due to other funds Customer meter deposits payable Unearned revenue Claims liability Total OPEB liability Net Pension liability Deferred inflows related to pension Deferred inflows related to OPEB Accrued compensated absences $ Net cash provided by operating activities Non-cash Activities: Capital assets donated Change in fair value of investments Total Non-cash Activities

(4,839,300) 11,791,172

-

$ $

3,630,201 122,043

7,926,773 210,140

3,845,375 1,922

311,212 2,078

15,713,561 336,183

2,720,016 170,727

483,240 49,932 (13,072) 53,797 (7,580,342) (489,272) (60,783) 1,109,649 821,528 101,563 870,155 82,932 (7,941) 15,973 9,515,467

655,115 1,707 4,063 (158,610) (34,007) 6,247,927 (32,311) 58,139 273,424 89,543 (5,255) 6,617 27,163,033

(230,680) (7,347) (79,527) (17,966) (246,941) 29,043 162,892 22,723 (2,135) 17,863 14,545,172

$

(33,571) 981 60,652 680 (3,563) (238,391) (58,136) 130,522 68,431 44,628 88,905 403,070 83,875 (2,324) (2,122) 2,455,575

$

874,104 50,913 47,580 56,184 (7,587,189) (965,800) (170,892) 7,241,157 36,120 821,528 44,628 277,650 1,709,541 279,073 (17,655) 38,331 53,679,247

$

63,719 2,998 307,840 (2,139,691) (396,142) 1,012,965 (172,177) 454,655 3,025,713 766,865 97,710 120,596 8,617,087

3,196,595 787,053 3,983,648

$

325,999 325,999

$

6,786,935 2,681,459 9,468,394

$

658,274 658,274

$

$ $

3,590,340 910,133 4,500,473

$

$ $

See accompanying notes to the basic financial statements.

35

$

$

$

400,963 400,963


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

City of Edmond, Oklahoma Statement of Fiduciary Net Position Fiduciary Funds June 30, 2021

Pension Trust Fund ASSETS Cash and cash equivalents Accrued interest Total cash and cash equivalents Investments at fair value: Common stock Pooled equity funds Pooled fixed income funds Alternative-open end mutual funds Total investments Total assets

$

LIABILITIES Due to other governments Refunds payable and others Total liabilities NET POSITION Net position restricted for pension

$

1,186,150 47,726 1,233,876

Custodial Fund $

2,861,851 74,728,989 15,812,168 9,173,577 102,576,585 103,810,461

32,147

1,000 1,000

32,147 32,147

103,809,461

$

See accompanying notes to the basic financial statements.

36

32,147 32,147

-


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

City of Edmond, Oklahoma Statement of Changes in Fiduciary Net Position Fiduciary Funds For the Year Ended June 30, 2021

Pension Trust Fund ADDITIONS Contributions: Employer Plan Members Total contributions Investment earnings: Investment income Investment activity expense Total net investment earnings Other Additions: Court fees collected for other governments Total other additions Total additions

$

3,479,255 1,776,378 5,255,633

Custodial Fund

$

26,893,689 (176,057) 26,717,632

DEDUCTIONS Benefits Refunds of contributions Administrative Payment of court fees to other governments Total deductions Change in net position Net position - beginning Net position - ending

$

-

31,973,265

205,746 205,746 205,746

3,797,173 1,305,430 3,214 5,105,817

205,746 205,746

26,867,448

-

76,942,013 103,809,461

-

See accompanying notes to the basic financial statements.

37

-

$


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

THIS PAGE INTENTIONALLY LEFT BLANK

38


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. FINANCIAL REPORTING ENTITY B. BASIS OF PRESENTATION C. MEASUREMENT FOCUS AND BASIS OF ACCOUNTING D. ASSETS, LIABILITIES, DEFERRED OUTFLOWS/INFLOWS OF RESOURCES AND NET POSITION/FUND BALANCE E. INTERNAL AND INTERFUND BALANCES AND ACTIVITIES F. REVENUES, EXPENDITURES AND EXPENSES G. USE OF ESTIMATES H. NEW PRONOUNCEMENTS

NOTE 2. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY A. FUND BALANCES AND NET POSITION B. DEPOSITS AND INVESTMENTS REQUIREMENTS C. DEBT RESTRICTIONS AND COVENANTS

NOTE 3. DETAIL NOTES - TRANSACTION CLASSES/ACCOUNTS A. DEPOSIT AND INVESTMENT RISKS B. RECEIVABLES C. RESTRICTED ASSETS D. CAPITAL ASSETS E. LONG-TERM DEBT F. INTERFUND BALANCES AND ACTIVITIES G. FUND BALANCES AND NET POSITION

NOTE 4. OTHER NOTES A. EMPLOYEE PENSION AND OTHER BENEFIT PLANS B. RISK MANAGEMENT C. COMMITMENTS AND CONTINGENCIES D. ECONOMIC DEVELOPMENT E. TAX ABATEMENTS F. SUBSEQUENT EVENTS

39


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City of Edmond’s (the City) accounting and financial reporting policies conform to accounting principles generally accepted in the United States of America (GAAP). GAAP includes all relevant Governmental Accounting Standards Board (GASB) pronouncements. The accounting and reporting framework and the more significant accounting policies are discussed in subsequent subsections of this Note. 1.A. FINANCIAL REPORTING ENTITY The City’s financial reporting entity comprises the following: Primary Government:

City of Edmond

Blended Component Unit:

Edmond Public Works Authority

Discretely Presented Component Units: Edmond Economic Development Authority Edmond Historic Preservation Trust In determining the financial reporting entity, the City complies with the provisions of Governmental Accounting Standards Board Statement No. 14, 34, 39, and 61 and includes all component units of which the City is fiscally accountable. Each of these component units are Public Trusts established pursuant to Title 60 of Oklahoma State law. Public Trusts (Authorities) have no taxing power. The Authorities are generally created to finance City services through issuance of revenue bonds or other non-general obligation debt and to enable the City Council to delegate certain functions to the governing body (Trustees) of the Authority. The Authorities generally retain title to assets which are acquired or constructed with Authority debt or other Authority generated resources. In addition, the City has leased certain existing assets at the creation of the Authorities to the Trustees on a long-term basis. The City, as beneficiary of the Public Trusts, receives title to any residual assets when a Public Trust is dissolved. BLENDED COMPONENT UNITS Blended component units are separate legal entities that meet the GASB 14, 39 and 61 component unit criteria and whose governing body is the same or substantially the same as the City Council or the component unit provides services entirely to the City. These component units’ funds are blended into the City’s by appropriate fund type to comprise part of the primary government presentation. One component unit is blended into the primary government’s fund types as presented below: Brief Description/Inclusion Criteria

Component Unit Edmond Public Works Authority

(EPWA)

Created October 6, 1970, to finance, develop and operate the water, sewer, garbage, electric, lake and drainage facilities. Also, the Authority operates and maintains the City’s golf course facility. The current City Council serves as the governing body (Trustees) of the EPWA and the city is responsible for daily operations. The City is able to impose its will on the EPWA because, by state law, all EPWA issuances of debt require a two-thirds approval of the City Council. The EPWA funds are reported as enterprise funds within the primary government presentation.

40


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

DISCRETELY PRESENTED COMPONENT UNITS Discretely presented component units are separate legal entities that meet the GASB 14 component unit criteria but do not meet the criteria for blending. The City has two component units that are discretely presented in the City’s report as presented below: Edmond Economic Development Authority Created June 17, 1969, to promote and encourage the general (EEDA) economic and social development within or near the City of Edmond, Oklahoma. The Authority provides financing to businesses for the purpose of acquiring facilities for industrial, manufacturing, and charitable enterprises in or near the City. The EEDA governing body is appointed by the full City Council. All issuances of debt require a two-thirds approval of the City Council and the EEDA Trustees. Complete financial statements of the Economic Development Authority component unit can be obtained from: Edmond Economic Development Authority 825 E. 2nd, Suite 200 Edmond, OK 73034 Edmond Historic Preservation Trust (EHPT)

Created November 15, 1982 to preserve the qualities relating to the history of the City in order to promote the economic and general welfare of the people of the City of Edmond and to ensure the harmonious, orderly and efficient growth and development of the municipality. The EHPT governing body is appointed by the current City Council. The City is able to impose its will on the EHPT because, pursuant to state law, all issuance of EHPT debt requires a two-thirds approval of the City Council. The EHPT component unit does not issue separate financial statements.

1.B. BASIS OF PRESENTATION Government-Wide Financial Statements: The statement of net position and statement of activities display information about the City as a whole including component units. They include all financial activities of the reporting entity except for fiduciary activities. Eliminations have been made to minimize the double reporting of transactions involving internal activities. Individual funds are not displayed in these statements. Instead, the statements distinguish between governmental and business-type activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other non-exchange revenues. Business-type activities are financed in whole or in part by fees charged to external parties for goods or services. The statement of activities presents a comparison between the expenses and program revenues directly associated with the different governmental functions and business-type activities to arrive at the net revenue or expense of the function or activity prior to the use of taxes and other general revenues. Program revenues include (1) fees, fines, and service charges generated by the program or activity, (2) operating grants and contributions that are restricted to meeting the operational requirements of the program or activity, and (3) capital grants and contributions that are restricted to meeting the capital requirements of the program or activity.

41


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Fund Financial Statements: Fund financial statements of the reporting entity are organized into funds, each of which is considered to be separate accounting entities. Each fund is accounted for by providing a separate set of self-balancing accounts which constitute its assets, deferred outflows, liabilities, deferred inflows, fund equity, revenues, and expenditures/expenses. Separate financial statements are presented for the three major fund categories: governmental, proprietary and fiduciary. An emphasis of the fund financial statements is placed on major governmental and enterprise funds. A fund is considered major if it is the primary operating fund of the City or meets the following criteria: a.

Total assets and deferred outflows, liabilities, and deferred inflows, revenues or expenditures/expenses of that individual governmental or enterprise fund are at least 10 percent of the corresponding total for all funds of that category or type, and

b.

Total assets and deferred outflows, liabilities and deferred inflows, revenues or expenditures/expenses of the individual governmental fund or enterprise fund are at least 5 percent of the corresponding total for all governmental and enterprise funds combined.

c.

A fund not meeting the criteria of (a) and (b), however management has elected to report the fund as a major fund due to its significance to users of the financial statements.

All remaining governmental and enterprise funds not meeting the above criteria are aggregated and reported as nonmajor funds. The funds of the financial reporting entity are described below: Governmental Funds The City reports four major governmental funds: General Fund Fire Public Safety Limited Tax Fund Police Public Safety Limited Tax Fund 2000 Capital Improvement Tax Fund General Fund The General Fund is the primary operating fund of the City. It is used to account for all activities except those legally or administratively required to be accounted for in other funds. The General Fund is reported as a major governmental fund. The General Fund main sources of revenue include sales tax, franchise and public services taxes, and charge for services related to governmental activities. For financial reporting purposes, the General Fund also includes the activity of the Edmond Electric Economic Development sub -fund and the Park Special Events sub-fund and the Real Property Fund sub-fund. In fiscal year 2021, the Sidewalk and Driveway Escrow was moved to an account of the General Fund because it did not meet the definition of a Custodial Fund under GASB Statement 84. Special Revenue Funds Special Revenue Funds are used to account for and report the proceeds of specific revenue sources that are legally or administratively restricted to expenditures for certain purposes. The reporting entity includes the following special revenue funds:

42


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Major Funds: Fire Public Safety Limited Tax Fund – used to account for restricted taxes and other dedicated revenues used to finance the operations of the City’s fire department Police Public Safety Limited Tax Fund – used to account for restricted taxes and other dedicated revenues used to finance the operations of the City’s police department and other capital projects Nonmajor Funds: CDBG Entitlement Fund Asset Forfeiture Fund Senior Center Fund Convention & Visitors Bureau Fund Hospital Sale Trust Fund Ambulatory Service Fund Capital Project Funds Capital Project Funds are used to account for resources restricted for the acquisition or construction of specific capital projects or items. The reporting entity includes the following capital project funds: Major Fund: 2000 Capital Improvement Tax Fund – used to account for the proceeds of a voter-restricted limited purpose sales tax to be used for capital improvements Nonmajor Funds: Cemetery Care Fund Cemetery Perpetual Care American Rescue Plan Fund Park Sales Tax Fund Art in Public Places Fund Capital Improvement Fund Roadway Improvement Fund 1996 Capital Improvement Tax Fund 2012 Public Safety Center Tax Fund 2017 Capital Improvement Fund Proprietary Funds Proprietary funds include both enterprise funds and internal service funds. Enterprise funds are used to account for business-like activities provided to the general public. Internal service funds are used to account for business-like activities provided and charged to other funds or entities within the reporting entity. Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Nonoperating revenues of the proprietary funds include such items as investment earnings, interest expense and subsidies. The reporting entity includes the following enterprise funds and internal service funds: Enterprise Funds The City reports three major enterprise funds: Electric Fund – used to account for the operation and maintenance of the City electric utility services Water Fund – used to account for the operation and maintenance of the City water utility services Wastewater Fund - used to account for the operation and maintenance of the City wastewater utility services

43


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Nonmajor enterprise funds include: Sanitation Fund Arcadia Lake Fund Drainage Fund Kickingbird Golf Course Fund YourGovShop Fund Transportation Fund (CityLink) Internal Service Funds Internal service funds include: Employee Group Insurance Fund Vehicle Maintenance Fund Liability/Tort Claim Fund Fleet Management Fund Field Services Fund Administrative Support Services Fund Fiduciary Funds The City’s fiduciary funds are used to report net position and changes therein of assets held by the City in a trustee or fiduciary capacity. This net position is not available for operations of the City. The City reports two types of fiduciary funds: Pension Trust Fund and Custodial Funds. Pension Trust Fund – used to account for the assets and changes therein of the Edmond Employee Retirement System Custodial Funds – used to account for assets held on behalf of others include the C.L.E.E.T. Penalty Assessment Fund 1.C. MEASUREMENT FOCUS AND BASIS OF ACCOUNTING Measurement focus is a term used to describe how transactions are recorded within the financial statements. Basis of accounting refers to when transactions are recorded regardless of the measurement focus applied. Measurement Focus On the government-wide Statement of Net Position and the Statement of Activities both governmental and businesslike activities are presented using the economic resources measurement focus as defined in item b. below. In the fund financial statements, the “current financial resources” measurement focus or the “economic resources” measurement focus is used as appropriate: a.

All governmental funds utilize a “current financial resources” measurement focus. Only current financial assets, liabilities, deferred outflows and inflows are generally included on their balance sheets. Their operating statements present sources and uses of available spendable financial resources during a given period. These funds use fund balance as their measure of available spendable financial resources at the end of the period.

b.

The proprietary fund utilizes an “economic resources” measurement focus. The accounting objectives of this measurement focus are the determination of operating income, changes in net position (or cost recovery), financial position, and cash flows. All assets, liabilities (whether current or noncurrent), deferred outflows and inflows associated with their activities are reported. Proprietary fund equity is classified as net position.

44


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Basis of Accounting Government-wide, Proprietary and Fiduciary Fund Financial Statements In the government-wide Statement of Net Position and Statement of Activities, and the proprietary fund financial statements the accrual basis of accounting is applied. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset used. Revenues, expenses, gains, losses, assets and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place. Governmental Fund Financial Statements In the governmental fund financial statements, the modified accrual basis of accounting is applied. Under this modified accrual basis of accounting, revenues are recognized when “measurable and available”. Measurable means knowing or being able to reasonably estimate the amount. Available means collectible within the current period or soon enough thereafter to pay current liabilities. The City has defined “available” as collected within 60 days after year end. Sales and use taxes, franchise taxes, hotel/motel taxes, court fines and interest are considered susceptible to accrual. Expenditures (including capital outlay) are recorded when the related fund liability is incurred, except for general long-term debt principal and interest, claims and judgments, and accrued compensated absences, which are recorded as expenditures to the extent they have matured. Proceeds of general long-term debt and capital leases are reported as other financial sources. 1.D. ASSETS, LIABILITIES, DEFERRED OUTFLOWS/INFLOWS OF RESOURCES, AND NET POSITION/FUND BALANCE. Cash and Cash Equivalents Cash and cash equivalents include all demand accounts, savings accounts, money market investment in trust accounts, certificates of deposit and short-term investments with an original maturity of three months or less. Investments in open-ended mutual fund shares are also considered cash equivalents and are reported at the funds’ current share prices. Investments Investments are reported at fair value using selected bases. Securities traded on a national or international exchange are valued at the last reported sales price at current exchange rates. Investments that do not have an established market are reported at estimated fair value as estimated by a broker/dealer. Investments of the pension trust fund are also carried at fair value. Securities of the pension trust fund traded on a national or international exchange are valued at the last reported sales price at current exchange rates. All non-negotiable long-term certificates of deposit are carried at cost. Additional cash and investment disclosures are presented in Note 2.B. and Note 3.A. Receivables In the government-wide statements, receivables consist of all revenues earned at period-end and not yet received. Allowances for uncollectible accounts receivable are based upon historical trends and the periodic aging of accounts receivable. Major receivable balances for the governmental activities include sales and use taxes, franchise taxes, grants, police fines, ambulance fees. Business-type activities report utilities as its major receivables. In the fund financial statements, material receivables in governmental funds include revenue accruals such as sales tax, franchise tax, tax increment revenue, and grants and other similar intergovernmental revenues since they are usually both measurable and available. Non-exchange transactions collectible but not available are deferred in the fund financial statements in accordance with modified accrual, but not deferred in the government-wide financial statements in accordance with the accrual basis. Interest and investment earnings are recorded when earned on if paid within 60 days since they would be considered both measurable and available. Proprietary fund material receivables consist of all revenues earned at period-end and not yet received. Utility accounts receivable (such as electric, water, wastewater, sanitation and drainage revenues) comprise the majority of proprietary fund receivables. Allowances for uncollectible accounts receivable are based upon historical trends and the periodic aging of accounts receivable. 45


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Inventories Inventories are valued at the lower of cost and net realizable value. The cost of governmental funds inventories are recorded as expenditures when consumed rather than when purchased because they are immaterial. Restricted Assets Restricted assets include current assets of enterprise funds and business-type activities that are legally restricted as to their use. The primary restricted assets are related to revenue bond and promissory note trustee accounts restricted for debt service and deposits held for refund. Restricted assets of the component unit consist of program income from revolving grants restricted as to use. Capital Assets and Depreciation The accounting treatment of property, plant and equipment (capital assets) depends on whether the assets are used in governmental fund type or proprietary fund operations and whether they are reported in the government-wide or fund financial statements. Government-Wide Statements In the government-wide financial statements, property, plant and equipment are accounted for as capital assets. The City’s capitalization threshold is $7,500. All capital assets are valued at historical cost, or estimated historical cost if actual is unavailable, except for donated capital assets, donated works of art and similar items which are recorded at their acquisition value at the date of donation. General infrastructure assets (such as roads, bridges, and traffic systems) acquired prior to July 1, 2002, are reported at estimated historical cost using deflated replacement costs. The cost of normal maintenance and repairs to these assets that do not add materially to the value of the asset or materially extend the assets’ useful lives are not capitalized Depreciation of all exhaustible capital assets is recorded as an operating expense in proprietary fund financial statements and an allocated expense in the Statement of Activities, with accumulated depreciation reflected in the Statement of Net Position. Depreciation is provided over the assets’ estimated useful lives using the straight-line method of depreciation. The range of estimated useful lives by type of asset is as follows: Buildings Other Improvements Infrastructure Equipment and vehicles Water rights

15 - 50 years 5 - 50 years 50-100 years 2 - 40 years 25-50 years

In the governmental fund financial statements, capital assets acquired are accounted for as capital outlay expenditures. Long-Term Debt Accounting treatment of long-term debt varies depending upon the source of repayment and the measurement focus applied and whether the debt is reported in the government-wide or fund financial statements. All long-term debt to be repaid from governmental activities, business-type activities, proprietary fund and component unit resources are reported as liabilities as incurred. The long-term debt consists primarily of accrued compensated absences, general obligation bonds payable, and revenue bonds payable. This long-term debt is reported net of unamortized premiums and discounts. Amounts deferred from refundings are shown as deferred inflows or outflows. Long-term debt of governmental funds is not reported as liabilities in the fund financial statements. The debt proceeds are reported as other financing sources and payment of principal and interest reported as expenditures.

46


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Compensated Absences Under terms of union contracts and City personnel policies, City employees are granted vacation and sick leave in varying amounts. In the event of termination, a civilian employee is paid for accumulated vacation up to 300 hours earned. Upon retirement, 33-1/3% of accumulated sick leave up to a maximum of 300 hours is converted to vacation time for non-union employees, subject to certain limitations. For firemen, sick leave hours are converted three to one to vacation hours not to exceed 400 hours at retirement plus 480 maximum vacation (suppression) and 288 maximum vacation (non-suppression). For police officers, sick leave hours are converted two to one with a maximum of 400 hours plus maximum of 320 vacation hours at retirement. The estimated liabilities for vested benefits also include salary-related payments such as employment taxes. Compensated absences are reported as accrued in the government-wide, proprietary, fiduciary and component unit financial statements. Governmental funds report only the matured compensated absences payable to currently terminating employees; however, the compensated absences obligation is reported as a fund balance reserve in compliance with the State Constitution. Deferred Outflow/Inflows of Resources In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. At the government fund level, the City does not recognizes any deferred outflows. At the enterprise fund level and government-wide level, the City recognizes deferred outflows related to debt refunding, pensions, and OPEB. In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period (s) and so will not be recognized as an inflow of resources (revenue) until that time. The government has at the fund level only one type of item, which arises only under a modified accrual basis of accounting that qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from two sources: interest and miscellaneous accounts receivable. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available. At the government wide level and proprietary fund level, deferred inflows are for reporting amounts related to debt refunding, pensions, and OPEB. Equity Classifications Government-Wide and Proprietary Fund Financial Statements: Equity is classified as net position and displayed in three components: a.

b. c.

Net investment in capital assets - Consists of capital assets including restricted capital assets and bond construction proceeds, net of accumulated depreciation and reduced by the outstanding balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction, or improvement of those assets. Restricted net position - Consists of net position with constraints placed on the use either by 1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments, or 2) law through constitutional provisions or enabling legislation. Unrestricted net position - All other net position that does not meet the definition of “restricted” or “net investment in capital assets”.

It is the City’s policy to first use restricted net position prior to the use of unrestricted net position when an expense is incurred for purposes for which both restricted and unrestricted net position are available.

47


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Governmental Fund Financial Statements: Governmental fund equity is classified as fund balance. Fund balance is further classified as nonspendable, restricted, committed, assigned and unassigned. These classifications are defined as: a)

Nonspendable-includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact. b) Restricted-consists of fund balance with constraints placed on the use of resources either by (1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments, or (2) laws through constitutional provisions or enabling legislation. c) Committed-included amounts that can only be used for specific purposed pursuant to constraints imposed by formal action of the city’s highest level of decision-making authority. The City’s highest level of decision-making authority is made by ordinance. City Council adopts an ordinance that establishes this constraint. d) Assigned-includes amounts that are constrained by the City’s intent to be used for specific purposed but are neither restricted nor committed. Assignments of fund balance may be made by city council action or management decision when the city council has delegated that authority. Assignments for transfers and interest income for governmental funds are made through budgetary process. e) Unassigned-represents fund balance that not been assigned to other funds and has not been restricted, committed, or assigned to specific purposes within the general fund. The general fund is the only fund that may report a positive unassigned fund balance, in accordance with GASB 54.

It is the City’s policy that expenditures for which more than one category of fund balance could be used, that the order of use is: restricted, committed, assigned and unassigned. The City Council adopted the budget which designates the amount to the specific categories. In an effort to ensure the continuance of sound financial management of public resources, the City of Edmond’s Unassigned Fund Balance within the General Fund will be maintained to provide the City with sufficient working capital and a comfortable margin of safety to address emergencies, sudden loss of revenue or operating needs, and unexpected downturns. This policy established the amounts the City will strive to maintain in its General Fund unassigned balance, the conditions under which fund balance may be spent, and the method by which fund balance will be restored. These amounts are expressed as goals, recognizing that fund balance levels can fluctuate from year to year in the normal course of operations for any local government. The City will strive to maintain an Unassigned Fund Balance in the General Fund of (10%). This is determined by adding all new budgeted revenues, plus the Edmond Public Works Authority’s transfers-in, divided by the Unassigned Fund Balance. It is management’s express intent to identify a “not-to-exceed” amount of $1,000,000 as part of the 10% minimum fund balance for unexpected, large-scale events where damage in excess of $250,000 is incurred and immediate, remedial action must be taken to protect the health and safety of residents (e.g. floods, fires, storm damage). Of the $1,000,000 part of the General Fund’s Unassigned Fund Balance, it is management’s intent to not use any portion of this balance unless such emergencies occur. During fiscal year 2021, several natural disasters occurred that caused the City to use the emergency amounts. The City expects a portion of the funds to be reimbursed by FEMA. It is the goal of the City to limit use of any Unassigned Fund balances less than 10% to address non-recurring needs, otherwise approved by the City Council. Unassigned Fund balances of less than the 10% minimum as described above shall not normally be applied to recurring annual operating expenditures. Unassigned balances within the General Fund may, however, be used to allow time for the city to restructure its operations in a deliberate manner, but such use will only take place in the context of long-term financial planning. 1.E. INTERNAL AND INTERFUND BALANCES AND ACTIVITIES In the process of aggregating the financial information for the government-wide financial, some amounts reported as interfund activity and balances in the fund financial statements have been eliminated or reclassified. 48


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Government-Wide Financial Statements: Interfund activity and balances, if any, are eliminated or reclassified in the government-wide financial statement as follows: a. Internal balances - amounts reported in the fund financial statements as interfund receivables and payables are eliminated in the governmental and business-type activities columns of the statement of net position, except for the net residual amounts due between governmental and business-type activities, which are reported as Internal Balances. b.

Internal activities - amounts reported as interfund transfers in the fund financial statements are eliminated in the government-wide statement of activities except for the net amount of transfers between governmental and business-type activities, which are reported as Transfers - Internal Activities. The effects of interfund services between funds are not eliminated in the statement of activities.

c.

Primary government and component unit activity and balances - resource flows between the primary government (the City and EPWA) and the discretely-presented component units (the Historical Preservation Trust and EEDA) are reported as if they were external transactions.

Fund Financial Statements: Interfund activity, if any, within and among the governmental, proprietary fund and fiduciary categories is reported as follows in the fund financial statements: 1.

Interfund loans - amounts provided with a requirement for repayment are reported as interfund receivables and payables.

2.

Interfund services - sales or purchases of goods and services between funds are reported as revenues and expenditures/expenses.

3.

Interfund reimbursements - repayments from funds responsible for certain expenditures/expenses to the funds that initially paid for them are not reported as reimbursements but as adjustments to expenditures/expenses in the respective funds.

4.

Interfund transfers - flow of assets from one fund to another where repayment is not expected are reported as transfers in and out.

1.F. REVENUES, EXPENDITURES AND EXPENSES Sales Tax The City levies a three and three-fourth cent sales tax on taxable sales within the City. The sales tax is collected by the Oklahoma Tax Commission and remitted to the City in the month following receipt by the Tax Commission. The sales tax is recorded as follows: 2 cents recorded as revenue within the General Fund then transfers .75 of one cent to the Water Enterprise Fund as required by the bond indenture for debt service. Any unused portion is transferred back to the General Fund. 1/8 cent recorded as revenue within the Park Sales Tax Fund to account for operations and facility improvement costs of the City’s park and recreation system. 3/4 cent recorded as revenue within the 2000 Capital Improvement Tax Fund to account for capital improvements as recommended to the City Council by the Capital Financing Task Force.

49


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

1/4 cent recorded as revenue within the Fire Public Safety Limited Tax Fund to account for improvements to the fire department per voter approval. 1/8 cent recorded as revenue within the Police Public Safety Limited Tax Fund to account for improvements to the police department per voter approval. 1/2 cent recorded as revenue within the 2017 Capital Improvement Fund to account for capital projects approved by Capital Improvement Project Advisory Board.

Sales tax resulting from sales occurring prior to year-end and received by the City after year end have been accrued and is included under the caption Due from Other Governments because they represent taxes on sales occurring during the reporting period. Police and Fire Public Safety Funds Revenue An ordinance passed and approved by the citizens of Edmond requires that 30% of General Fund revenues (defined as taxes, licenses and permits, fines and forfeitures, charges for services, interest and miscellaneous revenues) be used for funding fire department operations and that 36.8% of these same General Fund revenues be used for funding police department operations. Effective July 1, 2001 all fire and police expenditures were accounted for in the limited purpose sales tax special revenue funds. The special revenue funds also receive sales tax (approved in the same ordinance referenced above) of one-fourth percent for the fire department and one-eighth percent for the police department. Those sales taxes can only be expended for additional personnel and equipment for additional personnel, additional equipment for firefighting and law enforcement purposes, and also for competitive compensation and benefits for existing and retired firefighters and officers. The ordinance further states that expenditures will not be charged against the sales tax revenues until the General Fund revenues have first been used or encumbered. Hospital Sales Trust Fund Principal and Income In 1981, the City sold the Edmond Memorial Hospital for approximately $7,200,000. The majority of the proceeds are invested in a trust account. According to trust agreement terms, the earnings and interest of the trust funds can be used by the City for capital improvements. The principal of the trust must also be used for capital improvements, but its use must first be approved by a vote of the citizens of the City. Edmond voters approved a half-cent sales tax on October 11, 2011 and allowed the City to loan itself money out of the $7.2 million Hospital Trust Fund, but is contingent upon paying the borrowed funds back with interest. Pension Contributions For purposes of measuring the net pension liability, deferred outflows or resources and deferred inflows of resources related to pensions, and pension expense, amounts and disclosures have been prepared using the accrual basis of accounting. Employee and employer contributions are recognized as System revenues in the period in which they are due to the plan. Benefits and refunds are recognized when due and payable pursuant to plan provisions. Investments are reported at fair value. Property Tax Under State law municipalities are limited in their ability to levy a property tax. Such tax may only be levied to repay principal and interest on general obligation bonded debt approved by voters and any court-assessed judgments. At the present time the City levies a property tax for court-assessed judgments only. There are currently no court assessed judgments against the City. Article 10, Section 26 of the Constitution of the State of Oklahoma limits municipal debt to be repaid with property tax to 10% of the net assessed valuation of property. The City currently has no debt outstanding under this provision.

50


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Pledge of Future Revenues Sales Tax Pledge - The City has pledged three-fourth cents (or 20%) of future sales tax revenues to repay $291,750,000 of Series 2013, 2014B, 2015, 2016, 2017, and 2021 Sales Tax and Utility System Bonds. Proceeds from the bonds provided financing for capital assets. The bonds are payable from pledged sales tax revenues and further secured by net electric, water, wastewater, and sanitation revenues. The bonds are payable through 2023, 2026, 2024, 2047, 2048, and 2023 respectively. The total principal and interest payable for the remainder of the life of these bonds is $358,272,543. Pledged sales taxes received in the current year were $15,115,945 for the bonds and the net utility revenues were $39,949,895. Debt service payments for the bonds of $19,030,371 for the current fiscal year were 126% of the pledged sales taxes and 35% of both pledged sales taxes and utility revenues. Utility Net Revenues Pledge – The City has also pledged future net electric, water, wastewater, and sanitation revenues to repay $229,285,000 of 2015, 2016, and 2017 Series Utility System Revenue Bonds and $3,726,484 of 2005 OWRB Notes Payable, $16,085,000 on the General Sales Revenue Note with Bank of America, $19,000,000 of 2018 OWRB Note Payable and $40,000,000 of the 2020C OWRB Note Payable. Proceeds from the bonds and notes provided financing for utility system capital assets. The bonds are payable through 2048 while the notes are payable through 2024, 2026, 2041, and 2052. The total principal and interest payable for the remainder of the life of these bonds and notes is $390,625,170. The bonds are payable from the above-mentioned utility net revenues and are additionally secured with .75 of one cent (or 20%) of future sales tax revenues. If the net utility revenues are sufficient to service the debt, the pledged sales taxes are transferred back to the General Fund. The total pledged sales taxes for the current fiscal year of $15,115,945 were returned to the General Fund. The debt service payments on the bonds and notes this year were $17,190,478 which was 33.4% of pledged net utility revenues of $51,450,372 and 25.8% of both pledged utility revenues and pledged sales taxes. Expenditures and Expenses In the government-wide statement of activities, expenses, including depreciation of capital assets, are reported by function or activity. In the governmental fund financial statements, expenditures are reported by class as current (further reported by function), capital outlay and debt service. In proprietary fund financial statements, expenses are reported by object or activity. Fiduciary funds report additions and deductions to net position. 1.G. USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures; accordingly, actual results could differ from those estimates. 1.H. NEW PRONOUNCEMENTS IMPLEMENTED DURING THE YEAR The City implemented GASB Statement 84, Fiduciary Activities. Implementation moved a former Agency fund to an account of the General Fund and left the CLEET Fund as an Custodial Fund. NOTE 2. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY By its nature as a local government unit, the City and its component units are subject to various federal, state and local laws and contractual regulations. An analysis of the City’s compliance with significant laws and regulations and demonstrations of its stewardship over City resources follows. 2.A. DEFICIT FUND BALANCES OR NET POSITION Title 11, Section 17-211 of the Oklahoma Statutes prohibits the creation of a deficit fund balance in any individual fund of the City (excluding public trusts). At June 30, 2021, due to timing issues caused by generally accepted accounting principles, the City reported a deficit in the CDBG Entitlement Fund and the American Rescue Plan Fund.

51


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

2.B. DEPOSITS AND INVESTMENTS REQUIREMENTS The Treasurer is authorized to invest funds in such securities as provided by Oklahoma State Statutes. The City’s General/Operating and Public Works Authority Funds Investment Policy may be more restrictive than that allowed by state statute. The securities authorized by the approval of this policy shall be: a.

Direct obligations of the United States Government, its agencies or instrumentalities to the payment of which the full faith and credit of the Government of the United States is pledged or obligations to the payment of which the full faith and credit of the State of Oklahoma is pledged; or

b.

Collateralized or insured certificates of deposits of savings and loan associations, banks, savings banks and credit unions located in this state, when the certificates of deposit are secured by acceptable collateral as provided in Oklahoma State Title 62, Section 517.5 or fully insured certificates of deposit at banks, savings banks, savings and loan associations and credit unions located out of state; or

c.

Savings accounts or saving certificates of savings and loan associations, banks, and credit unions, to the extent that the accounts or certificates are fully insured by the Federal Deposit Insurance Corporation; or

d.

Investments as authorized by Oklahoma State Title 62, Section 348.3 which are fully collateralized in investments specified in paragraphs 1 through 3 of this section, and where the collateral has been deposited with a trustee or custodian bank in an irrevocable trust or escrow account established of such purposes; or

e.

County, municipal or school district direct debt obligations for which an ad valorem tax may be levied or bond and revenue anticipation notes, money judgments against such county, municipality or school district ordered by a court of record or bonds or bond and revenue anticipations notes issued by a public trust for which such county, municipality or school district is a beneficiary thereof. All collateral pledged to secure public funds shall be valued at no more than market value. The income received from the investment may be place in the general fund of the governmental subdivision to be used for general governmental operations, the sinking fund, the building fund, or the fund from which the investment was made.

f.

Obligations of the United States government, its agencies and instrumentalities;

g.

Collateralized or insured certificates of deposits and other evidences of deposit at banks, saving banks, savings and loan associations and credit unions located within the state; or full insured certificates of deposit and banks, savings banks, savings and loan associations and credit unions located out of state;

h.

Negotiable certificates of deposit issued by a nationally or state-charted bank, savings bank, a savings and loan association or a state-licensed branch of a foreign bank. Purchases of negotiable certificates of deposits shall not exceed ten percent (10%) of the surplus funds of the city or county which may be invested pursuant to this section. Not more than one-half (1/2) of the ten percent (10%) limit shall be invested in any one financial institution specified in this paragraph;

i.

Prime banker’s acceptances which are eligible for purchase by the Federal Reserve System and which do not exceed two hundred seventy (270) days’ maturity. Purchases of prime banker’s acceptances shall not exceed ten percent (10%) of the surplus funds of the city or county which may be invested pursuant to this section. Not more than one-half (1/2) of the ten percent (10%) limit shall be invested in any one commercial bank pursuant to this paragraph;

j.

Prime commercial paper which shall not have a maturity that exceeds one hundred eighty (180) days nor represent more than ten percent (10%) of the outstanding paper of an issuing corporation. Purchases of prime commercial paper shall not exceed seven and one-half percent (7 ½ %) of the surplus funds of the city or county which many be invested pursuant to this section; and

k.

Repurchase agreements that have underlying collateral consisting of those items specified in paragraphs a through e of this subsection.

l.

Money market funds regulated by the Securities and Exchange Commission and which investments consist of those items and those restrictions in paragraphs 1 through 6 of this subsection. 52


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Public trusts created under O.S. Title 60 and pension trust funds are not subject to the above noted investment limitations and are primarily governed by any restrictions in their trust or bond indentures. 2.C. DEBT RESTRICTIONS AND COVENANTS Notes Payable The loan agreement with the Oklahoma Water Resources Board relating to the interim construction note payable of the Edmond Public Works Authority contains a number of financial restrictions or covenants. These include covenants requiring a flow of funds through special accounts and a note payable debt service coverage requirement. The note agreement requires net revenues of the system plus pledged and transferred sales tax to be at least 125% of maximum annual debt service. The Note indenture relating to the 2013 General Sales Tax Revenue note payable of the Edmond Public Works contains a number of financial restrictions or covenants. Revenue Bond Debt The bond indentures relating to the revenue and sales tax bond issues of the Edmond Public Works Authority and the City contain a number of financial restrictions or covenants. These include covenants requiring a flow of funds through special accounts, required reserve account balances and revenue bond debt service coverage requirement. The 2010, 2013, 2014B, 2015, 2016, and 2017 series sales tax and utility revenue bond indentures require (1) a reserve account balance $19,794,474 and (2) net revenues plus pledged and transferred sales tax to be at least 100% of the maximum annual debt service requirements. The City complied with these covenants for the fiscal year ended June 30, 2021.

NOTE 3. DETAIL NOTES - TRANSACTION CLASSES/ACCOUNTS The following notes present detail information to support the amounts reported in the basic financial statements for its various assets, liabilities, equity, revenues and expenditures/expenses. 3.A. DEPOSIT AND INVESTMENT RISKS Primary Government: The City of Edmond, including its blended component unit held the following deposits and investments at June 30, 2021.

53


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

F a ir Va lue F a ir Va lue

Type De m a nd a c c o unts

$

R a ting

C a te go ry (3)

40,926,077

n/a

n/a

Tim e de po s its

35,302,418

n/a

n/a

M a turitie s in Ye a rs De m a nd $ 40,926,077

Le s s Tha n One $

-

-

35,302,418

1- 5 $

6 - 10 -

-

-

-

M o ne y m a rke t funds

63,322,872

**

n/a

-

63,322,872

119,341,004

(1)

Le ve l I

-

32,638,643

86,702,361

U.S . Go ve rnm e nt s po ns o re d e nte rpris e s

121,543,225

(2)

Le ve l II

-

29,314,741

92,228,484

**

Le ve l I

-

15,812,168

S ub-to ta l

396,247,764

$ 40,926,077

$

160,578,674

-

$

-

-

U.S . Tre a s ury Obliga tio ns

M utua l F unds -fixe d inc o m e

$

178,930,845

15,812,168 $

15,812,168

M utua l F unds : Alte rna tive Equity F unds S ub-to ta l M utua l F unds

9,173,577

n/a

Le ve l I

74,729,805

n/a

Le ve l I

n/a

Le ve l I

83,903,382

C o m m o n a nd pre fe rre d s to c k To ta l Inve s tm e nts

2,861,851 $

483,012,997

R e c o nc ilia tio n to S ta te m e nt o f Ne t P o s itio n: C a s h a nd c a s h e quiva le nts

$

40,895,820

Inve s tm e nts

261,368,182

C urre nt re s tric te d c a s h a nd c a s h e quiva le nts

43,779,640

C urre nt re s tric te d inve s tm e nts

7,294,406

No nc urre nt re s tric te d c a s h a nd c a s h e quiva le nts

18,490,519

No nc urre nt re s tric te d inve s tm e nts

7,389,548

P e ns io n re tire m e nt fund a s s e ts

103,762,735

Age nc y fund c a s h a nd inve s tm e nts

32,147 $

483,012,997

** Unra te d

(1) U.S. obligations include Treasury bills, Treasury notes, and Treasury bonds. U.S. obligations are backed by the full power of the United States government and are guaranteed by the full faith and credit of the United States government. (2) U.S. government sponsored enterprise (GSE) securities are debt issued by a financial intermediary established by the federal government to fund loans for a public purpose. GSE’s lack the explicit backing of the U.S. government, but are federally chartered entities. GSE securities are listed below with the corresponding credit ratings: GSE Name  Federal National Mortgage Association (FNMA or “Fannie Mae”)  Federal Home Loan Bank (FHLB)  Federal Farm Credit Banks (FFCB)

S & P Rating AA+

Moody Rating Aaa

AA+ AAA

Aaa Aaa

(3) The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. a. b. c.

Level 1 Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; Level 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset and liability, either directly or indirectly, for substantially the full term of the financial instrument; Level 3 Inputs to the valuation methodology are unobservable. An entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities are used for determining the fair value of the assets or liabilities.

54


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Custodial Credit Risk – Exposure to custodial credit risk related to deposits exists when the City holds deposits that are uninsured and uncollateralized; collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the City’s name; or collateralized without a written or approved collateral agreement. Exposure to custodial credit risk related to investments exists when the City holds investments that are uninsured and unregistered, with securities held by the counterparty or by its trust department or agent but not in the City’s name. The City’s policy as it relates to custodial credit risk is to secure its uninsured deposits with collateral, valued at no more than market value, at least at a level of 102% of the uninsured deposits and accrued interest thereon. The investment policy also limits acceptable collateral to U.S. Treasury securities and direct debt obligations of municipalities, counties, and school districts in the state of Oklahoma. As required by Federal 12 U.S.C. Section 1823(e), all financial institutions pledging collateral to the City must have a written collateral agreement approved by the board of directors or loan committee. At June 30, 2021, the City was not exposed to custodial credit risk as defined above. Investment Credit Risk – The City’s investment policy limits investments to those with a maturity no more than five years from the date of purchase. These investment limitations are described in Note 2B. Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. The City has no formal policy limiting investments based on credit rating, but discloses any such credit risk associated with their investments by reporting the credit quality ratings of investments in debt securities as determined by nationally recognized statistical rating organizations—rating agencies—as of the year end. Unless there is information to the contrary, obligations of the U.S. government or obligations explicitly guaranteed by the U.S. government are not considered to have credit risk and do not require disclosure of credit quality. The credit ratings of other City investments are listed in the schedule above. The fair value of the City’s forward sales agreements are fully exposed to credit risk. The forward sales agreements require the counterparty to notify the trustee, EPWA, and the bond insurer if any of the long-term unsecured outstanding debt of the guarantor falls below A- by S&P and below A3 by Moody’s or is unrated by either rating agency. Upon such notice, the trustee or EPWA may (1) direct the counterparty to either assign the agreements to an acceptable transferee, (2) provide a guaranty issued by an acceptable guarantor, or (3) terminate the agreements without penalty. Investment Interest Rate Risk – Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. The City’s investment policy limits investments to those with a maturity no more than five years from the date of purchase, except for reserve and pension trust funds, as a means of managing exposure to fair value losses arising from increasing interest rates. The City discloses its exposure to interest rate risk by disclosing the maturity dates of its various investments. Concentration of Investment Credit Risk - Exposure to concentration of credit risk is considered to exist when investments in any one issuer represent a significant percent of total investments of the City (any over 5% are disclosed). Investments issued or explicitly guaranteed by the U.S. government and investments in mutual funds, external investment pools, and other pooled investments are excluded from this consideration. At June 30, 2021, the City had a total portfolio concentration of credit risk in the following investments: FFCB 12.47%, FHLB 18.4%, FHLMC 12.85% and FNMA 6.73%. Pension Plan Investments: The Plan policy provides that assets be invested to provide for total return. The plan shall be invested in a diversified portfolio, consisting primarily of common stocks, bonds, cash equivalents, and other investments, which may reflect varying rates of return. The overall rate of return objective of the portfolio is a reasonable “real” rate, consistent with the risk levels established by the Pension Board. The minimum acceptable long-term rate of return over a full market cycle (3 to 5 years) is that which equals or exceeds the actuarial assumptions. The Pension Board has also established an annual target return objective, which may be changed from time to time, but is currently 7.25 %, net of fees. This return objective currently meets the actuarial assumption of 7.25%. 55


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Asset allocation guidelines for the Plan are as follows: Class Fixed Income Large Cap Equities Small Cap Equities International Equities Emerging Market Equities Real Estate Commodities

Target Pe rcent 22% 22% 7% 17% 10% 5% 4%

June 2021 Percent 18% 29% 10% 22% 11% 6% 0%

Master Limited Partnerships

10%

4%

Other

3%

0%

Rate of return. For the year ended June 30, 2021, the annual money-weighted rate of return on pension plan investments, net of pension plan investment expense, was 34.69% percent. The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested. Component Units: Total bank deposits of the EEDA component unit were $509,252 at June 30, 2021 and were properly insured and collateralized. In addition, deposits of the Historical Preservation Trust of $40,278 were fully collateralized. 3.B. RECEIVABLES Accounts Receivable Accounts receivable of the business-type activities consist of customers utilities services provided, both billed and unbilled, due at year end, reported net of allowance for uncollectible amounts. The governmental activities receivables include fines, other taxes, and miscellaneous receivables as follows: Business-T ype Activities:

Electric Fund Utilities Receivable

$ 14,949,377

Less: allowance for uncollectible accounts Utilities receivable, net of allowance

(1,528,640) $ 13,420,737

Water Fund $ 3,812,172 (301,516) $ 3,510,656

Wastewater Fund

Sanitation Fund

$ 2,818,713

$ 1,317,915

(347,716) $ 2,470,997

Fines Receivable

Other receivables, net of allowance

2,675,340

Other T axes Receivable

Miscellaneous Receivables

T otal

$ 336,519

$ 500,492

$ 3,512,351

(1,999,108) $

$

212,432

(38,705)

T otal $ 23,149,314 (2,374,026) $ 20,775,288

$ 21,335,488

Governmental Activities:

Less: allowance for uncollectible accounts

251,137

560,200

T otal Accounts Receivable-Business-T ype Activities

$

$

(157,449) $ 1,160,466

Other Receivables-Business-T ype Activities

Other receivables

Drainage Fund

676,232

$ 336,519

56

$ 500,492

(1,999,108) $ 1,513,243


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

3.C. RESTRICTED ASSETS The amounts reported as restricted assets of the business-type activities are comprised of assets held by the trustee bank on behalf of the EPWA related to their required revenue note and bond accounts, deposits held for refund and EEDA restricted accounts related to revolving loan program income. Governmental activity restricted assets are comprised of assets held by a trustee bank on behalf of the City related to required revenue bond accounts. Current Cash and cash equivalents

Noncurrent Cash and cash equivalent s Invest ment s

Investments

T otal

Primary Government Governmental Act ivities: Revenue bond t rustee accounts

$

Workers' compensation escrow T otal Governmental Act ivities

8,698,798

$

237,964

-

$

3,789,150

1,557,529

$

8,936,762

$

$

11,903,489

$

$

-

1,557,529

$

3,789,150

206,808

$

14,701,369

1,389,828

$

13,877,776

$

15,673,269

$

26,811,666

$

1,389,828

1,795,493

Business-type Activit ies: Revenue bond t rustee accounts Deposit s held for refund

-

Deposit s held for const ruction T otal Business-type Activit ies

5,530,069

22,939,389 $

34,842,878

$

5,736,877

-

-

-

$

5,530,069

5,999,720

14,701,369

$

5,999,720

28,939,109 $

61,280,844

Component Unit: The Edmond Economic Development Authority (EEDA) restricted assets at year-end included the following: Current Cash and cash equivalents, program income Total

$

41,683

$

41,683

3.D. CAPITAL ASSETS Capital asset activity for the fiscal year ended June 30, 2021 was as follows:

57


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

B a la nc e a t J uly 1, 2020

Additio ns

De duc tio ns

B a la nc e a t J une 30, 2021

G o v e rn m e n t a l a c t iv it ie s : No n-de pre c ia ble : La nd C o ns truc tio n-in-pro gre s s

$

To ta l no n-de pre c ia ble a s s e ts a t his to ric a l c o s t

17,742,953 21,481,000

$

24,013,435

$

(11,854,210)

$

17,742,953 33,640,225

39,223,953

24,013,435

(11,854,210)

51,383,178

B uildings

115,107,417

3,982,865

(54,450)

119,035,832

Im pro ve m e nts

53,020,341

1,081,483

(31,378)

54,070,446

M a c hine ry a nd e quipm e nt

64,815,273

4,798,648

(1,565,153)

371,173,682

12,637,778

604,116,713

22,500,774

De pre c ia ble :

Infra s truc ture To ta l de pre c ia ble a s s e ts a t his to ric a l c o s t

68,048,768

-

383,811,460

(1,650,981)

624,966,506

Le s s a c c um ula te d de pre c ia tio n B uildings

(32,099,381)

(3,381,253)

70,935

Im pro ve m e nts

(32,408,471)

(2,975,159)

1,271,637

(34,111,993)

M a c hine ry a nd e quipm e nt

(36,663,107)

(3,353,959)

64,005

(39,953,061)

(201,624,274)

(12,046,529)

-

(213,670,803)

(302,795,233)

(21,756,900)

Infra s truc ture To ta l a c c um ula te d de pre c ia tio n Ne t de pre c ia ble a s s e ts Go ve rnm e nta l a c tivitie s c a pita l a s s e ts , ne t

301,321,480 $

743,874

340,545,433

$

2,571,192

$

24,757,309

$

(35,409,699)

1,406,577

(323,145,556)

(244,404)

301,820,950

(12,098,614)

$

353,204,128

B u s in e s s - t yp e a c t iv it ie s No n-de pre c ia ble : La nd

$

C o ns truc tio n-in-pro gre s s To ta l no n-de pre c ia ble a s s e ts a t his to ric a l c o s t

-

$

-

$

2,571,192

221,730,016

47,950,540

(34,328,844)

235,351,712

224,301,208

47,950,540

(34,328,844)

237,922,904

De pre c ia ble : B uildings

37,108,863

-

-

37,108,863

Im pro ve m e nts

16,087,047

-

-

16,087,047

M a c hine ry a nd e quipm e nt

10,628,671

Inta ngible wa te r rights

488,031

30,954,585

Utility pro pe rty To ta ls de pre c ia ble a s s e ts a t his to ric a l c o s t

(21,390)

-

11,095,312

-

30,954,585

371,486,209

43,727,681

-

415,213,890

466,265,375

44,215,712

(21,390)

510,459,697

Le s s a c c um ula te d de pre c ia tio n (13,490,336)

(1,131,863)

-

Im pro ve m e nts

B uildings

(6,731,470)

(81,773)

-

(6,813,243)

M a c hine ry a nd e quipm e nt

(6,942,127)

(495,275)

13,315

(7,424,087)

Inta ngible wa te r rights Utility pro pe rty To ta l a c c um ula te d de pre c ia tio n Ne t de pre c ia ble a s s e ts B us ine s s -type c a pita l a s s e ts , ne t

$

(14,622,199)

(19,337,646)

(644,232)

-

(19,981,878)

(193,921,838)

(13,360,418)

-

(207,282,256)

(240,423,417)

(15,713,561)

13,315

(256,123,663)

225,841,958

28,502,151

(8,075)

254,336,034

450,143,166

$

58

76,452,691

$

(34,336,919)

$

492,258,938


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

B a la nc e a t J uly 1, 2020 C o m p o n e n t Un it s : His to ric a l P re s e rva tio n Trus t: No n-de pre c ia ble : La nd C a pita l a s s e ts , no n-de pre c ia ble De pre c ia ble : B uildings To ta ls a t his to ric a l c o s t Le s s a c c um ula te d de pre c ia tio n: M a c hine ry a nd e quipm e nt To ta ls a c c um ula te d de pre c ia tio n C a pita l a s s e ts , de pre c ia ble ne t C a pita l a s s e ts , ne t Edm o nd Ec o no m ic De ve lo pm e nt Autho rity: De pre c ia ble : M a c hine ry a nd e quipm e nt To ta ls a t his to ric a l c o s t Le s s a c c um ula te d de pre c ia tio n: M a c hine ry a nd e quipm e nt

$

De duc tio ns

B a la nc e a t J une 30, 2021

$

$

$

-

-

100,450 100,450

343,915 343,915

-

-

343,915 343,915

(324,742) (324,742) 19,173

(2,006) (2,006) (2,006)

-

(326,748) (326,748) 17,167

-

$

117,617

-

$

50,301 50,301

$

119,623

$

(2,006)

$

47,766 47,766

$

2,535 2,535

To ta l a c c um ula te d de pre c ia tio n C a pita l a s s e ts , ne t

100,450 100,450

Additio ns

$

(35,586)

(3,459)

-

(35,586)

(3,459)

-

$

12,180

$

(924)

$

(39,045) (39,045)

-

$

11,256

Depreciation expense was charged to functions in the statement of activities as follows: Depreciation expense charged to governmental activities: General government Public safety Streets and highways Culture and recreation Health and welfare

$

In addition, depreciation on capital assets held by the City's internal service funds is charged to the various functions based on their usage of the assets T otal governmental activities depreciation expense

1,508,863 2,196,702 12,727,540 2,391,733 212,046 2,720,016

$

21,756,900

Electric Water Sanitation Wastewater Arcadia Lake Drainage Golf Course

$

3,630,201 7,926,773 14,764 3,845,375 192,972 64,221 39,255

T otal business-type activities depreciation expense

$

15,713,561

Depreciation expense charged to business-type activities:

59


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

3.E. LONG-TERM DEBT The reporting entity's long-term debt is segregated by the amounts involving governmental activities, business-type activities and component units. Governmental Activities Long-Term Debt As of June 30, 2021, the governmental activities long-term debt consisted of the following: Accrued Compensated Absences: Accrued compensated absences reported in the governmental activities are comprised of accrued vacation leave. Current portion Non-current portion Total Accrued Compensated Absences

$ $

516,803 4,651,195 5,167,998

Note Payable (direct placement): 2021 Series Refunding Sales Tax Note, dated April 1, 2021, issued by the Edmond Public Works Authority, secured by pledged sales tax, interest rates at 0.94%, final maturity July 1, 2023. The bond’s debt service is currently paid with the restricted sales tax. In the event of default, the lender may: 1) file suit for specific performance of covenants contained in the indenture; 2) accelerate maturity; or 3) file suit to enforce or enjoin action or inaction of arties under provisions of the indenture, security agreement or the lease agreement. Motorola Note Payable, dated August 2020, issued by the City of Edmond secured by equipment, interest rates at 2.470%, final maturity September 1, 2023. In the event of default, the lender may: 1) declare all amounts immediately due, the indenture; 2) request discontinued use of equipment and return of equipment, or 3) sell or subleases the equipment, or 4) demand equipment be returned

$ 5,025,536

989,267

Total Notes Payable Add: Deferred amount on Refunding Total Notes Payable (Net)

$ 6,014,803 310,864 $ 6,325,667

Current portion, net Non-current portion, net Deferred Inflow Total Notes Payable, net

$ 3,333,323 2,681,480 310,864 $ 6,325,667

Revenue Bonds Payable: 2013 Series Sales Tax and Utility System Bonds, dated May 14, 2013, issued by the Edmond Public Works Authority, secured by utility revenues and pledged sales tax, interest rates at 1.68%, final maturity July 1, 2023. The bond’s debt service is currently paid with the restricted sales tax. 2014B Refunding Series Sales Tax and Utility System Bonds, dated December 9, 2014 issued by the Edmond Public Works Authority, secured by utility revenues and pledged sales tax, interest rate at 2.25%, final maturity July 1, 2026. The bond’s debt service is currently paid with restricted sales tax. 60

$ 3,030,000

10,235,000


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Total Revenue Bonds Payable Add: Unamortized Bond Premium Less: Deferred amount on Refunding Total Revenue Bonds Payable (Net)

$ 13,265,000 991,578 (253,241) $ 14,003,337

Current portion, net Non-current portion, net Deferred Outflow Total Revenues Bonds Payable, net

$

3,375,000 10,881,578 (253,241) $ 14,003,337

Business-type Activities Long-Term Debt As of June 30, 2021, the long-term debt payable from enterprise fund resources consisted of the following: Revenue Bonds Payable: 2015 Refunding Series Sales Tax and Utility System Bonds, dated April 2, 2015, issued by the Edmond Public Works Authority, secured by utility revenues and pledged sales tax, interest rates at 1.87%, final maturity July 1, 2023.

$7,785,000

2016 Series Sales Tax and Utility System Bonds, dated July 5, 2016, issued by the Edmond Public Works Authority, secured by utility revenues and pledged sales tax, interest rates at 3.00% to 5.00%, final maturity July 1, 2046.

38,815,000

2017 Series Sales Tax and Utility System Bonds, dated October 19, 2017, issued by the Edmond Public Works Authority, secured by utility revenues and pledged sales tax, interest rates at 3.00% to 5.00%, final maturity July 1, 2047.

158,495,000

Total Revenues Bonds Payable Plus: Unamortized Premium Less: Unamortized Discount Deferred amount on refunding Total Revenues Bonds Payable (Net of unamortized discount) Current portion, net Non-current portion, net Deferred Outflow Total Revenues Bonds Payable, net

$205,095,000 17,994,022 (450,580) (136,486) $ 222,501,956 $ 5,936,035 216,702,407 (136,486) $ 222,501,956

Notes Payable (Direct borrowings): 2005 C Series Construction Drinking Water SRF Promissory Note to Oklahoma Water Resources Board, original issue amount of $3,726,484, secured by utility revenues and pledged sales tax, administrative fee of .5%, final maturity September 15, 2024. In the event of default, the lender may: 1) file suit for specific performance of covenants contained in the indenture; 2) accelerate maturity; 3) gain control of operations through temporary trustees; or 4) file suit to enforce or enjoin action or inaction of arties under provisions of the agreement. (direct borrowing) 2013 Refunding General Sales Tax Revenue Note to Bank of America, original issue amount of $16,085,000 secured by utility revenues and pledged sales tax, interest rate of 2.86%, final maturity of July 1, 2026. In the event of default, 61

$668,856


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

the lender may: 1) file suit for specific performance of covenants contained in the indenture; 2) accelerate maturity; 3) gain control of operations through temporary trustees; or 4) file suit to enforce or enjoin action or inaction of arties under provisions of the indenture, security agreement or lease agreement. (private placement)

7,435,000

2018 Series Construction Drinking Water SRF Promissory Note to Oklahoma Water Resources Board, original issue amount of $19,000,000, secured by utility revenues and pledged sales tax, administrative fee of .5%, interest rate of 2.36%, final maturity September 15, 2040. In the event of default, the lender may: 1) file suit for specific performance of covenants contained in the indenture; 2) accelerate maturity; 3) gain control of operations through temporary trustees; or 4) file suit to enforce or enjoin action or inaction of arties under provisions of the indenture, security agreement or lease agreement. (direct borrowing)

11,977,752

2020C Series Construction Drinking Water SRF Promissory Note to Oklahoma Water Resources Board, original issue amount up to $40,000,000, secured by utility revenues and pledged sales tax, administrative fee of .5%, interest rate of 1.47%, final maturity March 15, 2052. In the event of default, the lender may: 1) file suit for specific performance of covenants contained in the indenture; 2) accelerate maturity; 3) gain control of operations through temporary trustees; or 4) file suit to enforce or enjoin action or inaction of arties under provisions of the indenture, security agreement or lease agreement. (direct borrowing)

13,493,426

2021 Series Refunding Sales Tax Note, dated April 1, 2021, issued by the Edmond Public Works Authority, secured by pledged sales tax, interest rates at 0.94%, final maturity July 1, 2023. The bond’s debt service is currently paid with the restricted sales tax. In the event of default, the lender may: 1) file suit for specific performance of covenants contained in the indenture; 2) accelerate maturity; or 3) file suit to enforce or enjoin action or inaction of arties under provisions of the indenture, security agreement or the lease agreement. Total Notes Payable

2,259,967 $35,835,001

Current portion Non-current portion Total Note Payable

$3,284,035 32,550,966 $35,835,001

Accrued Compensated Absences: Accrued compensated absences reported in the business-type activities are comprised of accrued vacation leave: Current portion Non-current portion Total Accrued Compensated Absences

$ 89,807 808,254 $898,061

Component Unit Long-Term Debt Accrued Compensated Absences: Accrued compensated absences reported as a fund liability within the EEDA component unit statement of net position at June 30, 2021, are as follows: Current portion Non-current portion Total Accrued Compensated Absences

$4,010 36,089 $40,099 62


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Changes in Long-Term Debt - Primary Government The following is a summary of changes in long-term debt for the year ended June 30, 2021: B a la nc e J uly 1, 2020

Additio ns

De duc tio ns

B a la nc e J une 30, 2021

Am o unt due in o ne ye a r

$

13,265,000

$ 3,375,000

G o v e rn m e n t a l A c t iv it ie s : R e ve nue B o nds P a ya ble

$

No te P a ya ble (dire c t pla c e m e nt) Ac c rue d C o m pe ns a te d Abs e nc e s

26,891,145

$

-

$

13,626,145

1,515,000

6,599,299

2,099,496

6,014,803

3,333,323

4,668,270

3,465,414

2,965,686

5,167,998

516,803

$

33,074,415

$

10,064,713

$

18,691,327

$

24,447,801

$

7,225,126

$

17,741,664

$

20,019,439

$

1,926,102

$

35,835,001

$ 3,284,035

10,949,086

205,095,000

5,905,000

568,863

898,061

89,807

13,444,051

$ 241,828,062

$ 9,278,842

B u s in e s s - t yp e A c t iv it ie s : No te P a ya ble (dire c t bo rro wings ) R e ve nue B o nds P a ya ble

216,044,086

Ac c rue d C o m pe ns a te d Abs e nc e s

-

859,730

607,194

$ 234,645,480

$ 20,626,633

$

Accrued compensated absences liability is liquidated by the General Fund, Police Public Safety Limited Tax Fund, and the Fire Public Safety Limited Tax Fund. Debt Service Requirements to Maturity - Primary Government The annual debt service requirements to maturity for long-term debt as of June 30, 2020 are as follows: Gove rnme ntal-Type Activities Revenue Bonds Payable Year Ending June 30,

Principal

2022

$

Note Payable (direct placement)

Interest

3,375,000

$

Principal

537,425

$

Interest

3,333,323

$

59,971

2023

3,470,000

437,600

2,343,346

42,485

2024

2,035,000

310,000

338,134

13,068

2025

2,140,000

208,250

-

-

2026

2,245,000

101,250

-

-

2027-2030

T otal

$

-

13,265,000

63

$

1,594,525

$

6,014,803

$

115,524


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Busine ss-Type Activitie s Notes Payable (direct borrowings) Year Ending June 30, 2022

Principal $

Revenue Bonds Payable

Interest

Principal $

Interest

3,284,034

$ 1,518,775

2023

4,826,815

1,449,328

5,905,000 6,140,000

$

8,600,475 8,369,825

2024

4,259,387

1,354,310

8,665,000

8,111,425

2025

3,798,884

1,258,244

4,645,000

7,709,750

2026

3,743,333

1,163,665

4,835,000

7,510,525

2027-2031

11,951,667

4,791,010

27,460,000

34,187,775

2032-2036

11,416,667

3,447,413

34,005,000

27,563,975

2037-2041

10,941,667

2,111,496

41,240,000

20,127,051

2042-2046

6,666,667

1,149,167

51,015,000

10,150,824

2047-2050

6,666,667

492,500

21,185,000

894,600

2051

1,333,333

19,700

-

-

less amount not drawn

(33,054,120)

-

-

-

T otal

$

35,835,001

$ 18,755,608

$

205,095,000

$ 133,226,225

Refunding On April 1, 2021 the City issued $7,870,000 EPWA Sales Tax Revenue Note, Refunding Series 2021 with interest rates at 0.94% to current refund $4,280,000 Sales Tax and Utility System Revenue Refunding Bonds Series 2012 and advance $10,220,000 Sales Tax and Utility System Revenue Refunding Bonds, Series 2014. The net proceeds of $7,687,566 plus an additional $7,039,307 taken from the original revenue bond reserves and debt service were transferred to the escrow agent to refund the debt. The 2012 Series Bonds were paid in full by June 30, 2021 the 2014 Bonds had $7,815,000 defeased that will be called on July 1, 2021. The City completed the refunding to reduce its total debt service payments over the next 4 years by $7,854,896 and to obtain an economic gain (the difference between the present values of the old and new debt service payments) of $415,921. The current refunding resulted in a difference between the reacquisition price and the net carrying amount of the old debt of unamortized gain of $511,794. This difference, reported in the accompanying financial statements as deferred inflow of resources, is being charged to operations through the year 2024 using the straight line method. Defeased Bonds Outstanding The City, through its various public trusts, has in substance defeased a number of outstanding bond issues by placing deposits in irrevocable trusts (escrow accounts) for the purchase of U.S. government securities to pay the principal and interest on the refunded bonds as they become due and payable. For financial reporting purposes, both the defeased bonds outstanding and the escrowed securities have been excluded from the financial statements. At year-end, the remaining outstanding defeased bonds were as follows: Outstanding at June 30, 2021 Primary Government: Utility System Revenue Bonds, Series 2003B $440,000 Utility System Revenue Bonds, Series 2004 4,245,000 Sales Tax and Utility Revenue Bonds, Series 2004 5,530,000 Sales Tax and Utility Revenue Bonds, Series 2005 13,775,000 Utility System Revenue Bonds, Series 2005 9,300,000 Sales Tax and Utility System Revenue Refunding Bonds, Series 2014 7,815,000 Total Outstanding Defeased Bonds $41,105,000

64


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Component Unit - Conduit Debt The Edmond Economic Development Authority (EEDA) has issued bonds for various industrial development projects. The following bonds were outstanding at June 30, 2021: Outstanding Original Issue June 30, 2021 EEDA - Student Housing Revenue Bonds 2001A (UCO Student Housing Foundation) $8,305,000 $4,900,000 EEDA - Revenue Note 2000 (UCO Music Lab Project) (UCO Foundation)

1,135,000 $9,440,000

315,994 $5,215,994

The bonds and notes payable comprising the Authority’s indebtedness are not indebtedness of the State of Oklahoma, nor of the City of Edmond, nor is it a personal obligation of the Edmond Economic Development Authority trustees. These bonds are a limited obligation of the Authority payable solely from a portion of the Trust Estate consisting of the Authority bond and related Financing Agreement and other security outlined in the Mortgage or Loan Indentures. This debt is considered non-commitment (conduit) debt to the City and Authority since the debt payments are made solely from the notes receivable or financing agreement proceeds from Collegiate Foundation and UCO. Payments are made directly by the Collegiate Foundation and UCO to trustee banks who pay the bondholders. In the event of default by the Collegiate Foundation and UCO, the City or Authority has no obligation, in substance, to make any payments on the debt since the notes receivable, financing agreements and mortgages on the property with the industrial occupant are the only security for the debt. As a result of the non-commitment determination, the Authority’s indebtedness and related receivables from industrial occupants are not recorded in the financial statements. 3.F. INTERFUND BALANCES AND ACTIVITIES Internal Balances: Due From

Due To

General Fund

2000 Capital Improvement Tax Fund

General Fund Police Public Safety Limited Tax Fund 2000 Capital Improvement Fund Nonmajor Governmental Fund Other Enterprise Fund Total Due From

$

747 -

$

$

747

$

-

Nonmajor Governmental Funds $

$

73,470 73,470

65

Electric Fund $

$

7,435,243 8,000,000 115,826 394,446 15,945,515

Water Fund

Wastewater Fund

$

$

$

132,447 132,447

$

85,211 85,211

Other Enterprise Funds $

$

824 52,539 53,363

Internal Service Fund

Total Due To

$

$

$

-

$

7,509,537 747 8,000,000 115,826 664,643 16,290,753


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Receivable Fund

Payable Fund

Amount $

Nature of Interfund Balance

General Fund

Police Public Safety Limited Tax Fund

Art in Public Places

General Fund

73,470

747

Electric Fund

General Fund

7,435,243

Negative pooled cash

Electric Fund

CDBG Fund

115,826

Negative pooled cash

8,000,000

Negative pooled cash Matching cost

Electric Fund

2000 CIF

Electric Fund

Drainage Fund

394,446

Utility allocation

Water Fund

Drainage Fund

132,447

Utility allocation

Wastewater Fund

Drainage Fund

85,211

Utility allocation

Santiation Fund

Drainage Fund

44,183

Utility allocation

Arcadia Lake

Geneal Fund

824

Utility allocation

Arcadia Lake

Golf

8,356

Utility allocation

$

Capital funding

16,290,753

Reconciliation to Fund Financial Statements: Due From Governmental Funds

Due to

$

74,217

Proprietary Funds

$

16,216,536 $

Net Interfund Balances

15,626,110

$

(15,551,893)

664,643

16,290,753

$

16,290,753

15,551,893 $

-

Reconciliation to Government-wide Financial Statements: Net Interfund Balance

15,551,893

Internal Service Fund Allocation

11,765,509 $

27,317,402

Interfund transfers for the year ended June 30, 2021 were as follows: Transfers In

Transfers Out

General Fund

General Fund Police Public Safety Limited Tax Fund Nonmajor Governmental Fund Electric Fund Water Fund Wastewater Fund Other Enterprise Fund Total Transfer In

$

$

438,000 4,066,482 15,115,945 376,450 19,996,877

Police Public Fire Public Safety Limited Safety Limited Tax Fund Tax Fund $ 21,357,354 $ 21,357,354

$

$

26,198,353 26,198,353

Nonmajor Governmental Funds

Electric Fund

$

$

$

66

1,195,808 43,000 1,447,809 924,207 3,610,824

920,843 -

Water Fund

920,843

Other Enterprise Funds

Total Transfer Out

$

15,115,945 1,340 -

$

83 -

$

543,417 205,061 30 -

$

$

15,117,285

$

83

$

748,508

$

-

$

Wastewater Fund

65,331,720 43,000 643,061 4,067,935 16,563,754 924,207 376,450 87,950,127


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Transfer from PWA Electric PWA Water PWA Sanitation General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund Public Safety Limited T ax Fund Convention and Visitors Bureau PWA Electric PWA Electric PWA Electric PWA Electric PWA Electric PWA Water PWA Waastewater Hospital Sale T rust Fund Park Sales T ax

Transfe r to General Fund General Fund General Fund Art in Public Places Capital Improvement Fund Fire Public Safety Limited T ax Police Public Safety Limited T ax Convention and Visitors Bureau PWA Arcadia Lake Citilink Fund PWA Water PWA Electric 2017 Capital Improvement Fund PWA Electric Edmond Economic Development PWA Water PWA Waastewater PWA Sanitation PWA Arcadia Lake 2017 Capital Improvement Fund 2017 Capital Improvement Fund General Fund Golf Fund

Amount 3,966,482 15,115,945 376,450 455,808 675,000 21,357,354 26,198,353 65,000 248,478 400,000 15,115,945 815,782 43,000 105,061 100,000 1,340 83 29 1 1,447,809 924,207 438,000 100,000 $ 87,950,127

$

Nature of Interfund Balance Budgeted annual transfer Return of pledged sales tax Budgeted annual transfer Funding for public art Budgeted annual transfer Dedicated sales tax- ordinance Dedicated sales tax- ordinance Budgeted annual funding Budgeted annual transfer Budgeted annual transfer Pledged sales tax- bond indenture Economic development transfer Budgeted annual transfer Economic development transfer Budgeted annual transfer Budgeted annual transfer Budgeted annual transfer Budgeted annual transfer Budgeted annual transfer Budgeted annual transfer Budgeted annual transfer Budgeted annual transfer Capital funding

Re conciliation to Fund Financial Statements: Transfe r In Governmental Funds

$

Proprietary Funds

Transfe r O ut 71,163,408

$

16,786,719 $

87,950,127

66,017,781

Net Inte rfund Balances $

21,932,346 $

87,950,127

5,145,627 (5,145,627)

$

-

Transfers between the primary government and component units for the year ended June 30, 2021 were as follows: Transfe r From

Transfe r To

General Fund

EEDA

$

Amount

Nature of Transfe r

639,835

Operating subsidy

3.G. FUND BALANCES AND NET POSITION The following table shows the net position restricted for other purposes shown on the Statement of Net Position:

67


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Fund

Restricted By

Amount

Hospital T rust Ambulatory Fund

Enabling legislation Enabling legislation

$

7,246,025 1,115,348 8,361,373

$ Asset Forfeiture Cemetery Care Fund Cemetery Perpetual Care Fund Workers' comp escrow

Statutory Statutory Statutory Statutory

requirements requirements requirements requirements

$

559,262 135,375 173,032 1,995,784 2,863,453

$ General Fund Fire Public Safety Limited T ax Fund Police Public Safety Limited T ax Fund 2000 Capital Improvement T ax Fund 2012 Public Safety Center T ax Fund 2017 Capital Improvement Fund Senior Center Fund Park Sales T ax Fund Art in Public Places Fund Roadway Improvement Fund 1996 Capital Improvement Fund Convention and Visitors Bureau Fund

External contracts External contracts External contracts External contracts External contracts External contracts External contracts External contracts External contracts External contracts External contracts External contracts

$

3,014,106 19,388,310 11,246,141 14,428,949 78 22,480,981 191,520 3,293,198 94,491 10,197 11,173 173,315 74,332,459

$

The following table shows the fund balance classifications as shown on the Governmental Funds Balance Sheet: M a jo r Go ve rnm e nta l F unds

Ge ne ra l F und

F ire P ublic S a fe ty Ta x

2000 C a pita l P o lic e P ublic Im pro ve m e nt S a fe ty Ta x Ta x

Othe r Go ve rnm e nta l F unds To ta l

F und B a la nc e R e s tric te d F o r: P o lic e o pe ra tio ns

$

-

F ire o pe ra tio ns

-

Ho s pita l s a le trus t

-

Am bula nc e s e rvic e s

-

Ec o no m ic de ve lo pm e nt C a pita l im pro ve m e nts

$

19,388,310

$

11,246,141

$

-

$

-

11,246,141

-

-

-

-

7,246,025

7,246,025

-

-

-

1,115,348

1,115,348

-

-

-

-

173,315

173,315

-

-

-

22,492,230

36,568,736

14,076,506

-

$

-

19,388,310

S tre e t im pro ve m e nts

-

-

-

-

10,197

10,197

Art in public pla c e s

-

-

-

-

94,491

94,491

C ulture a nd re c pro gra m s

-

-

-

-

3,293,198

3,293,198

C e m e te ry im pro ve m e nts

-

-

-

-

308,407

308,407

S e nio r c e nte r pro gra m s

-

-

-

-

191,522

191,522

P o lic e -drug pro gra m s

-

-

-

-

559,262

559,262

J uve nile c o urt pro gra m s S tre e t a nd a lle y o pe ra tio ns Tra ns po rta tio n R o a dwa y wide ning S ub-to ta l re s tric te d

593,540

-

-

-

-

593,540

1,789,980

-

-

-

-

1,789,980

1,190

-

-

-

-

1,190

629,396

-

-

-

-

629,396

3,014,106

19,388,310

11,246,141

14,076,506

35,483,995

83,209,058

C o m m itte d fo r: S e nio r c e nte r pro gra m s

-

-

-

-

98,555

98,555

S ub-to ta l c o m m itte d

-

-

-

-

98,555

98,555

As s igne d fo r: C a pita l im pro ve m e nts

-

-

-

-

589,199

589,199

C ulture a nd re c pro gra m s

-

-

-

-

556,133

556,133

C e m e te ry im pro ve m e nts

-

-

-

-

19,538

19,538

Art in public pla c e s

-

-

-

-

12,560

12,560

-

1,587

-

-

2,584,120 1,662,900

S tre e t im pro ve m e nts

-

-

P o lic e o pe ra tio ns

-

-

F ire o pe ra tio ns

-

-

-

-

Ec o no m ic de ve lo pm e nt

-

-

-

-

27,900

27,900

P o lic e -drug pro gra m s

-

-

-

-

88,423

88,423

S e nio r c e nte r pro gra m s

-

-

-

-

31,061

31,061

Am bula nc e s e rvic e s

-

-

-

-

70,787

70,787

-

1,397,188

5,644,208

S ub-to ta l a s s igne d Una s s igne d (de fic it): TOTAL F UND B ALANC E

-

1,662,900

1,662,900

(1,455,878) $ 1,558,228

$ 21,051,210

68

2,584,120

2,584,120 $ 13,830,261

$

14,076,506

(161,533) $ 36,818,205

1,587

(1,617,411) $ 87,334,410


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

NOTE 4. OTHER NOTES 4.A. EMPLOYEE PENSION AND OTHER BENEFIT PLANS The City participates in three employee pension systems as follows: Name of Plan/System

Type of Plan

Oklahoma Police Pension and Retirement Fund

Cost Sharing Multiple Employer - Defined Benefit Plan

Oklahoma Firefighters Pension and Retirement Fund

Cost Sharing Multiple Employer - Defined Benefit Plan

City of Edmond Employees' Retirement System

Single Employer - Defined Benefit Plan

The aggregate net pension liability, deferred inflows, deferred outflows and pension expense for the plans at June 30, 2021: Deferred Outflow Police Pension

$

Fire Pension

1,195,737 $

10,970,363

Single Employer Plan Totals

Deferred Inflow

6,901,720 $

$

Net Pension Liability 4,056,072 $

1,517,558

49,539,163

14,516,472

1,838,663

32,265,392

32,388,555 $

4,551,958 $

85,860,627 $

28,026,682 $

4,025,856 $

76,091,184

Pension Expense 4,783,682 10,416,588 6,890,306 22,090,576

Reconciliation to government-wide financials; Governmental

$

Bussiness-type

4,114,286

439,063

Component unit

247,587

87,039

32,388,555 $

4,551,958 $

$

9,428,435 341,008 85,860,627

Oklahoma Police and Firefighter's Pension and Retirement Systems The City of Edmond, as the employer, participates in two statewide cost-sharing multiple employer defined benefit plans on behalf of the police officers and firefighters. The systems are funded by contributions from participants, employers, insurance premium taxes, and state appropriations, as necessary. The following is a summary of eligibility factors, contribution methods, and benefit provisions.

Oklahoma Police Pension and Retirement System Plan description - The City of Edmond, as the employer, participates in the Oklahoma Police Pension and Retirement Plan—a cost-sharing multiple-employer defined benefit pension plan administered by the Oklahoma Police Pension and Retirement System (OPPRS). Title 11 of the Oklahoma State Statutes, through the Oklahoma Legislature, grants the authority to establish and amend the benefit terms to the OPPRS. OPPRS issues a publicly available financial report that can be obtained at www.ok.gov/OPPRS Benefits provided - OPPRS provides retirement, disability, and death benefits to members of the plan. The normal retirement date under the Plan is the date upon which the participant completes 20 years of credited service, regardless of age. Participants become vested upon completing 10 years of credited service as a contributing participant of the Plan. No vesting occurs prior to completing 10 years of credited service. Participants’ contributions are refundable, without interest, upon termination prior to normal retirement. Participants who have completed 10 years of credited service may elect a vested benefit in lieu of having their accumulated contributions refunded. If the vested benefit is elected, the participant is entitled to a monthly retirement benefit commencing on the date the participant reaches 50 years of age or the date the participant would have had 20 years of credited service had employment continued uninterrupted, whichever is later. Monthly retirement benefits are calculated at 2.5% of the final average salary (defined as the average paid base salary of the officer over the highest 30 consecutive months of the last 60 months of credited service) multiplied by the years of credited service, with a maximum of 30 years of credited service considered. 69


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Monthly benefits for participants due to permanent disability incurred in the line of duty are 2.5% of the participants’ final average salary multiplied by 20 years. This disability benefit is reduced by stated percentages for partial disability based on the percentage of impairment. After 10 years of credited service, participants who retire due to disability incurred from any cause are eligible for a monthly benefit based on 2.5% of their final average salary multiplied by the years of service. This disability benefit is also reduced by stated percentages for partial disability based on the percentage of impairment. Effective July 1, 1998, once a disability benefit is granted to a participant, that participant is no longer allowed to apply for an increase in the dollar amount of the benefit at a subsequent date. Survivor’s benefits are payable in full to the participant’s beneficiary upon the death of a retired participant. The beneficiary of any active participant killed in the line of duty is entitled to a pension benefit. Contributions - The contributions requirements of the Plan are at an established rate determine by Oklahoma Statute and are not based on actuarial calculations. Employees are required to contribute 8% percent of their annual pay. Participating cities are required to contribute 13% of the employees’ annual pay. Contributions to the pension plan from the City were $1,545,752. The State of Oklahoma also made on-behalf contributions to OPPRS in the amount of $997,927 during the calendar year and this is reported as both expense and revenue in the General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance. In the government-wide Statement of Activities, revenue is recognized for the state’s on-behalf contributions on an accrual basis of $1,545,752. These on-behalf payments did not meet the criteria of a special funding situation. Pension Net Liability, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions - At June 30, 2021, the City reported a liability of $4,056,072 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2020, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2020. The City’s proportion of the net pension liability was based on the City’s contributions received by the pension plan relative to the total contributions received by pension plan for all participating employers as of June 30, 2020. Based upon this information, the City’s proportion was 3.531%. For the year ended June 30, 2021, the City recognized pension expense of $4,783,682. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Outflows

Deferred Inflows

of Resources

of Resources

Difference between expected and actual experience

$

Changes of assumptions

104,933

$ 1,101,522

416,677

-

4,785,532

-

Net difference between projected and actual earnings on pension plan investments Changes in proportion City contributions during measurement date

48,826

25,425

-

68,790

City contributions subsequent to the measure date

1,545,752

Total

$

6,901,720

$ 1,195,737

In the year ending June 30, 2021, $1,545,752 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the subsequent year. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

70


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Year ended June 30: 2022

$

584,191

2023

1,199,557

2024

1,549,908

2025

900,323

2026

(73,748) $

4,160,231

Actuarial Assumptions-The total pension liability was determined by an actuarial valuation as of July 1, 2020, using the following actuarial assumptions, applied to all prior periods included in the measurement: Inflation:

2.75%

Salary increases:

3.5% to 12% average, including inflation

Investment rate of return:

7 5% net of pension plan investment expense

Cost-of-living adjustments: Police officers eligible to receive increased benefits according to repealed Section 50-120 of Title 11 of the Oklahoma Statutes pursuant to a court order receive an adjustment of 1/3 to 1/2 of the increase or decrease of any adjustment to the base salary of a regular police officer, based on an increase in base salary of 3.5% (wage inflation). Mortality rates:

Active employees (pre-retirement) RP-2000 Blue Collar Healthy Combined table with age set back 4 years with fully generational improvement using Scale AA. Active employees (post-retirement) and nondisabled pensioners: RP-2000 Blue Collar Healthy Combined table with fully generational improvement using scale AA. Disabled pensioners: RP-2000 Blue Collar Healthy Combined table with age set forward 4 years.

The actuarial assumptions used in the July 1, 2020, valuation were based on the results of an actuarial experience study for the period July 1, 2012, to June 30, 2017. The long-term expected rate of return on pension plan investments was determined using a building block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense, and inflation) are developed for each major asset class. These ranges are combined to produce the longterm expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Best estimates of arithmetic real rates of return for each major asset class included in the pension plan's target asset allocation as of June 30, 2020, are summarized in the following table: Long-Term Expected Asset Class

Real Rate of Return

Fixed income

5.11%

Domestic equity

6.80%

International equity

11.45%

Real estate

8.60%

Private equity

11.58%

Commodities

0.00%

71


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

The current allocation policy is that approximately 60% of assets in equity instruments, including public equity, long-short hedge, venture capital, and private equity strategies; approximately 25% of assets in fixed income to include investment grade bonds, high yield and non-dollar denominated bonds, convertible bonds, and low volatility hedge fund strategies; and 15% of assets in real assets to include real estate, commodities, and other strategies. Discount Rate-The discount rate used to measure the total pension liability was 7.5%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current contribution rate and that contributions from employers will be made at contractually required rates, determined by State statutes. Projected cash flows also assume the State of Oklahoma will continue contributing 14% of the insurance premium, as established by statute. Based on these assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Sensitivity of the Net Pension Liability (Asset) to Changes in the Discount Rate-The following presents the net pension liability (asset) of the employers calculated using the discount rate of 7.5%, as well as what the Plan's net pension liability (asset) would be if it were calculated using a discount rate that is 1-percentage point lower (6.5%) or 1-percentage-point higher (8.5%) than the current rate:

Police Pension net pension liability (asset)

$

1% Decrease

Current Discount

1% Increase

(6.5%)

Rate (7.5%)

(8.5%)

14,328,464

$

4,056,072

$

(4,632,211)

Pension plan fiduciary net position - Detailed information about the pension plan’s fiduciary net position is available in the separately issued financial report of the OPPRS; which can be located at www.ok.gov/OPPRS.

Oklahoma Firefighter’s Pension and Retirement System Plan description - The City of Edmond, as the employer, participates in the Firefighters Pension & retirement—a cost-sharing multiple-employer defined benefit pension plan administered by the Oklahoma Firefighters Pension & Retirement System (FPRS). Title 11 of the Oklahoma State Statutes grants the authority to establish and amend the benefit terms to the FPRS. FPRS issues a publicly available financial report that can be obtained at www.ok.gov/fprs Benefits provided - FPRS provides defined retirement benefits based on members’ final average compensation, age, and term of service. In addition, the retirement program provides for benefits upon disability and to survivors upon death of eligible members. The Plan’s benefits are established and amended by Oklahoma statute. Retirement provisions are as follows: Normal Retirement: 

Hired Prior to November 1, 2013 Normal retirement is attained upon completing 20 years of service. The normal retirement benefit is equal to 50% of the member’s final average compensation. Final average compensation is defined as the monthly average of the highest 30 consecutive months of the last 60 months of participating service. For volunteer firefighters, the monthly pension benefit for normal retirement is $150.60 per month.

Hired After November 1, 2013 Normal retirement is attained upon completing 22 years of service. The normal retirement benefit is equal to 55% of the member’s final average compensation. Final average compensation is defined as the monthly average of the highest 30 consecutive months of the last 60 months of participating service. Also participants must be age 50 to begin receiving benefits. For volunteer firefighters, the monthly pension benefit for normal retirement is $165.66 per month. 72


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

All firefighters are eligible for immediate disability benefits. For paid firefighters, the disability in-the-line-of-duty benefit for firefighters with less than 20 years of service is equal to 50% of final average monthly compensation, based on the most recent 30 months of service. For firefighters with over 20 years of service, a disability in the line of duty is calculated based on 2.5% of final average monthly compensation, based on the most recent 30 months, per year of service, with a maximum of 30 years of service. For disabilities not in the line of duty, the benefit is limited to only those with less than 20 years of service and is 50% of final average monthly compensation, based on the most recent 60-month salary as opposed to 30 months. For volunteer firefighters, the not-in-the-line-of-duty disability is also limited to only those with less than 20 years of service and is $7.53 per year of service. For volunteer firefighters, the in-the-line-of-duty pension is $150.60 with less than 20 years of service or $7.53 per year of service, with a maximum of 30 years. A $5,000 lump sum death benefit is payable to the qualified spouse or designated recipient upon the participant’s death. The $5,000 death benefit does not apply to members electing the vested benefit-. Contributions - The contributions requirements of the Plan are at an established rate determined by Oklahoma Statute and are not based on actuarial calculations. Employees are required to contribute 9% percent of their annual pay. Participating cities are required to contribute 14% of the employees’ annual pay. Contributions to the pension plan from the City were $1,839,213. The State of Oklahoma also made on-behalf contributions to FPRS in the amount of $3,125,434 during the calendar year and this is reported as both expense and revenue in the General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance. In the government-wide Statement of Activities, revenue is recognized for the state’s on-behalf contributions on an accrual basis of $4,165,750. These on-behalf payments did not meet the criteria of a special funding situation. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions - At June 30, 2021, the City reported a liability of $49,539,163 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2020, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2020. The City’s proportion of the net pension liability was based on the City’s contributions received by the pension plan relative to the total contributions received by pension plan for all participating employers as of June 30, 2020. Based upon this information, the City’s proportion was 4.0213%. For the year ended June 30, 2021, the City recognized pension expense of $10,416,588. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Outflows

Deferred Inflows

of Resources

of Resources

Difference between expected and actual experience

$

Changes of assumptions

6,313,783

$

-

664,694 839,492

Net difference between projected and actual earnings on pension plan investments

728,168

Changes in proportion

-

2,088,424

City contributions during measurement date

-

775

13,372

City contributions subsequent to the measure date

1,839,213

Total

$

10,970,363

$

1,517,558

In the year ending June 30, 2021, $1,839,213 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the subsequent year. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: 73


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Year ended June 30: 2022

$

1,901,082

2023

2,629,885

2024

1,973,072

2025

1,109,553 $

7,613,592

Actuarial Assumptions- The total pension liability was determined by an actuarial valuation as of July 1, 2020, using the following actuarial assumptions, applied to all prior periods included in the measurement: Inflation: Salary increases: Investment rate of return: Inflation: Cost-of-living adjustments:

3.0% 2.75% to 10.5% average, including inflation 7 .5% net of pension plan investment expense 2.75% Paid firefighters with 20 years of service prior to May 26, 1983, receive an increase of half of the dollar amount of a 2.75% assumed increase in base pay. No COLA is assumed for members not eligible for this increase.

Mortality rates were based on the following:   

Active members—Pub-2010 Public Safety Table with generational mortality improvement using MP2018. Retired members—Pub-2010 Public Safety Below Median Table with generational mortality improvement using Scale MP-2018. Disabled members—Pub-2010 Public Safety Disabled Table set forward 2 years

The actuarial assumptions used in the July 1, 2020, valuation were based on the results of an actuarial experience study for the period July 1, 2013, to June 30, 2018. The long-term expected rate of return on pension plan investments was determined using a building block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense, and inflation) are developed for each major asset class. These ranges are combined to produce the longterm expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Best estimates of arithmetic real rates of return for each major asset class included in the pension plan's target asset allocation as of June 30, 2020, are summarized in the following table: Asset Class

Target

Long-Term Expected

Allocation

Real Rate of Return

Fixed income

20%

4.38%

Domestic equity

47%

7.41%

International equity

15%

9.82%

Real estate

10%

7.70%

Other assets

8%

5.67%

Discount Rate- The discount rate used to measure the total pension liability was 7.5%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current contribution rate and that contributions from employers will be made at contractually required rates, determined by State statutes. Projected cash flows also assume the State of Oklahoma will continue contributing 36% of the insurance premium, as established by statute. Based on these assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. 74


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Sensitivity of the Net Pension Liability to Changes in the Discount Rate-The following presents the net pension liability of the employers calculated using the discount rate of 7.5%, as well as what the Plan's net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower (6.5%) or 1-percentage-point higher (8.5%) than the current rate:

Fire Pension net pension liability

$

1% Decrease

Current Discount

1% Increase

(6.5%)

Rate (7.5%)

(8.5%)

64,335,731

$

49,539,163

$

37,159,484

Pension plan fiduciary net position - Detailed information about the pension plan’s fiduciary net position is available in the separately issued financial report of the FPRS which can be located at www.ok.gov/FPRS .

Edmond Employees Retirement System - Single-Employer, Defined Benefit Pension Plan Plan Description, Contribution Information, and Funding Policies The City contributes to the City of Edmond Employees' Retirement System (the "System"), which is a single employer defined benefit pension plan administered by the City of Edmond Administrative Committee. All nonunion full-time City employees are eligible to participate in the System. The City’s retirement ordinance requires that actuarial valuations be performed in each even-numbered year to determine if the City’s fixed contribution rate is adequate to fund the actuarially determined contribution requirement. The System does not issue separate annual financial statements. The System and the City have a June 30th year-end. The City has elected to use the preceding year-end of the System as its measurement date; therefore, net pension liability and related deferred inflows are reported as of June 30, 2020. The System’s pension liability was based on an actuarial valuation as of June 30, 2020. Pension payments made by the City from the measurement date to June 30, 2021 are reported as deferred outflows. Summary of Significant Accounting Policies For purposes of measuring the net pension liability, deferred outflows or resources and deferred inflows of resources related to pensions, and pension expense, amounts and disclosures have been prepared using the accrual basis of accounting. Employee and employer contributions are recognized as System revenues in the period in which they are due to the plan. Benefits and refunds are recognized when due and payable pursuant to plan provisions. Investments are reported at fair value. Method Used to Value Investments - Values of System assets are reported at fair value market. As of June 30, 2021, the System held no related party investments or individual investments (other than U.S. government and U.S. government guaranteed securities) whose market value exceeds five percent or more of the net position available for benefits. Eligibility Factors and Benefit Provisions Year established and governing authority

1966; City Council Ordinance

Determination of Contribution requirements

City Ordinance; actuarially determined

Employer

11.50%

Plan members

5.25% 75


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Funding of administrative costs

Investment earnings

Period required to vest

7 years

Eligibility for distribution

Age 65, or age 55 with seven years credited service

Provisions for: Disability benefits Death benefits Benefits paid:

Yes Yes Calculated on the average gross salary of a participant’s earnings during the highest 30 consecutive months of the last five years of credited service. Gross salary does not include payment of accumulated sick or annual leave upon termination of employment.

The City is required to contribute 11.50% of covered payroll to the System. These amounts were actuarially determined. System participants of the City contributed $1,754,557 during fiscal year 2021, and the City contributed $3,692,735. The Component Unit (EEDA) is also required to contribute 11.50% of covered payroll to the System. These amounts were actuarially determined. System participants of EEDA contributed $18,822 during fiscal year 2021, and EEDA contributed their portion of $36,824. The plan was amended to change the employee contribution rate to 6% and the employer rate to 11% effective January 1, 2021. Plan Membership Non-vested active members Fully vested active members

231 285

Total Active members

516

Non-active retired, beneficiaries, disabled and deferred vested participants Total Plan Participants

221 737

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions At June 30, 2021, the City reported a liability of $31,924,384 and the EEDA component unit $341,008 for their proportionate shares of the net pension liability. The net pension liability was measured as of June 30, 2020, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2020. There were no changes in assumptions or changes in benefit terms that affected measurement of the total pension liability. There were also no changes between the measurement date of July 1, 2020 and the City’s report ending date of June 30, 2021, that would have had a significant impact on the net pension liability. The following table reports the components of changes in net pension liability:

76


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Balances at beginning of year, 7/1/2019

$

Total Pension

Plan Net

Net Pension

Liability

Position

Liability

104,288,038

$

78,442,418

$

25,845,620

Changes for the year: Service cost

3,298,476

-

3,298,476

Interest expense

7,498,258

-

7,498,258

Contributions – employer

-

3,001,783

(3,001,783)

Contributions – employee

-

1,606,610

(1,606,610)

(1,046,792)

1,046,792

Net investment income

-

Benefits paid

(5,056,825)

Difference between actual and expected experience

(536,523)

Change in actuarial assumptions

(284,766)

Plan administrative expenses Net changes Balances at end of year, 7/1/2020

$

(5,056,825)

-

-

(536,523)

-

(284,766)

-

(5,928)

5,928

4,918,620

(1,501,152)

6,419,772

109,206,658

$

76,941,266

$

32,265,392

For the year ended June 30, 2021, the City recognized pension expense of $6,890,306 and EEDA recognized pension expense of $75,924. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: City

Component Unit

Deferred Outflows

Deferred Inflows

Deferred Outflows

Deferred Inflows

of Resources

of Resources

of Resources

of Resources

Difference between expected and actual experience

$

951,774

Changes in assumptions

2,796,675

Net difference between projected and actual earnings on pension plan investments

6,012,582

$

449,544

$

238,609

-

10,167

$

4,803

29,873

2,549

64,224

-

Change in proportion

867,784

895,530

94,759

64,762

City contributions during the measurement period

192,693

167,941

11,740

14,925

City contributions subsequent to the measurement date Total

$

3,447,377 14,268,885

$

1,751,624

$

36,824 247,587

$

87,039

The City’s $3,447,377 and EEDA’s $36,824 reported as deferred outflows of resources related to pensions resulting from contributions subsequent to the measurement date will be recognized as a decrease of the net pension liability in the year ended June 30, 2021. Other amounts will be reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Year ended June 30: 2022

$

City

Component Unit

2,173,320

$

25,566

2023

2,539,706

30,071

2024

2,195,884

28,262

2025

1,935,259

24,877

2026

299,281

9,263

(73,566)

5,685

thereafter $

77

9,069,884

$

123,724


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Actuarial Assumptions Key assumptions used in the plan actuarial valuation were: Discount Rate

7.25%

Long-term expected rate of return M easurement date

7.25% 7/1/2020

Inflation

2.50%

Projected salary increase*

2011 experience study

M ortality

M P 2019 projection

Retirement rates*

2011 experience study

Turnover*

2011 experience study

Actuarial cost method

Entry Age Normal

* In 2011 a detailed study was completed of the Retirement System’s demographic experience over the proceeding seven years. As a result, the Actuary recommended and the System’s Administrative Committee approved new assumptions based on actuarial experience. The assumption changes included a revised schedule of age-related retirement rates, age-related assumed pay increases replaced the 5% pay increase assumption and a new turnover assumption based on both age and employee years of service was implemented. These updates represent an ongoing and continuing process of refining prior assumptions. No changes in assumptions were made during fiscal year 2021. The City has adopted a funding method that is designed to fund all benefits payable to participants over the course of their working careers. Any differences between actual and expected experience are funded over a fixed period to ensure all funds necessary to pay benefits have been contributed to the trust before those benefits are payable. Therefore, the sufficiency of pension plan assets was made without a separate projection of cash flows. The long-term expected rate of return on pension plan investments was determined using a building block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense, and inflation) are developed for each major asset class. These ranges are combined to produce the longterm expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation (2.5%) and deducting expenses. Best estimates of arithmetic real rates of return for each major asset class included in the pension plan's target asset allocation as of June 30, 2020, are summarized in the following table:

Asset Class

Target

Long-Term Expected

Allocation

Real Rate of Return

Domestic equity

20%

6.0%

International equity

23%

6.2%

Fixed income

29%

2.5%

28%

6.3%

Real estate, commodities and partnerships

Discount Rate The discount rate used to measure the total pension liability was 7.25%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the actuarially determined contribution amounts. Based on the assumption, the pension plan’s fiduciary net position was projected 78


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return was adjusted to all periods of projected benefit payments to determine the total pension liability. Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the employers calculated using the discount rate of 7.25%, as well as what the Plan's net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower (6.25%) or 1-percentage-point higher (8.25%) than the current rate: 1%

Current

1%

Decrease

Discount

Increase

(6.25%)

Rate (7.25%)

(8.25%)

Employer's Total Pension Liability Employer's Net Pension Liability - FY 2020

$

46,885,730

$

32,265,392

$

20,098,564

Employer's Net Pension Liability - FY 2021

$

26,570,464

$

11,447,936

$

(1,144,733)

The components of the net pension liability of the City June 30, 2020 and 2021, were as follows: 2020 Total Net Pension Liability

$

Plan fiduciary Net Position

2021

109,206,656

$

76,941,264

Net Pension Liability

$

Plan Fiduciary Net Position as a percentage of

32,265,392 70.45%

115,257,397 103,809,461

$

11,447,936 90.07%

the total pension liability

Other Post-Employment Benefits Plan Description: City offers post-retirement benefit options for health care, prescription drug, dental and vision benefits for retired employees and their dependents that elect to make required contributions. The benefits are provided in accordance with State law, police and firefighter's union contracts and the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). The relationship for these benefits is not formalized in a contract or plan document, only a few sentences in the administrative policy. These benefits are considered for accounting purposes to be provided in accordance with a single employer substantive plan. A substantive plan is one in which the plan terms are understood by the city and plan members. This understanding is based on communications between the employers and plan member and the historical pattern of practice with regard to the sharing of benefit costs. Substantially all of the government's employees may become eligible for those post-retirement benefits if they reach normal retirement age while working for the City. Benefits cease the month prior to the date the retiree or spouse reaches age 65. Benefits provided - The Plan covers all current retirees of the City who elected postretirement medical coverage through the City Health Plan and future retired employees of the City fully self-insured health plan. In accordance with administrative policy, the benefit levels are the same as those afforded to active employees; this creates an implicit rate subsidy. The benefits offered by the City to retirees include health, RX, and dental and vision benefits. The retiree retains coverage with the City, by making an election within 30 days of termination of service and have 7+ years of creditable service in with the City and are at least 55 years old at the time of termination. Police and Fire employees must have 20 years of service. The amount of benefit payments during fiscal year June 30, 2021 were $278,374. 79


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Employees Covered by Benefit Terms Active Employees Inactive not yet receiving benefits Inactive or beneficiaries receiving benefits Total

752 0 51 803

Total OPEB Liability – The total OPEB liability was determined based on actuarial valuation performed as of June 30, 2020 which is also the measurement date. Actuarial Assumptions- The total OPEB liability in the June 30, 2020 valuation, was determined using the following actuarial assumptions:  Actuarial Cost Method - Entry Age Normal  Discount Rate – 2.21% based on the 20 year municipal bond yield  Retirement Age – Civilians - 55 with 7 years of service, Police and Fire 20 years of service  Medical Trend Rates

Year 2019 2020 2030 2035 2040 2045 2050 2060

Rate 6.02% 5.99% 5.99% 5.87% 5.33% 5.15% 5.03% 4.87%

Changes in Total OPEB Liability – Total OPEB Liability $

Balances at Beginning of Year

6,639,763

Changes for the Year: Service cost

396,676

Interest expense

246,275

Differences in expected and actual experience

19,955

Change in assumptions

1,020,944

Benefits paid

(278,374)

Net Changes

1,405,476 $

Balances End of Year

8,045,239

OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB - For the year ended June 30, 2021, the City recognized an OPEB benefit of $278,374. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

80


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

City Deferred Outflows of Resources Differences between expected and actual experience Changes of assumptions Net difference between projected and actual earnings on OPEB plan investments Changes in porportion City contributions during the measurement period City Contributions subsequent to the measurement date Total

$

Deferred Inflows of Resources

184,125 1,092,897

$

160,879 7,433 243,087 1,688,421

$

$

10,401 578,933 193,736 6,184 789,254

Component Unit Deferred Outflows Deferred Inflows of Resources of Resources $

$

944 5,605 31,262 1,247 39,058

$

$

53 2,969 1,256 4,278

The $243,087 reported as deferred outflows of resources related to OPEB resulting from City benefit payments subsequent to the measurement date will be recognized as a reduction of the OPEB liability in the year ended June 30, 2022. Any other amounts reported as deferred outflows or resources and deferred inflows of resources related to OPEB will be recognized in pension expense as follows: City Year Ended June 30: 2022 2023 2024 2025 2026 Thereafter

$

55,714 55,714 55,714 55,714 74,847 358,377 656,080

$

Component Unit $

$

4,234 4,234 4,234 4,234 4,332 12,265 33,533

Sensitivity of the City’s total OPEB liability to changes in the discount rate- The following presents the City’s total OPEB liability, as well as what the City’s total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (1.21 percent) or 1-percentage-point higher (3.21 percent) than the current discount rate: 1% Decrease (1.21%) Employers' total OPEB liability

$

8,965,955

Current Discount Rate (2.21%) $

8,045,239

1% Increase (3.21%) $

7,238,800

Sensitivity of the City’s total OPEB liability to changes in the healthcare cost trend rates - The following presents the City’s total OPEB liability, as well as what the City’s total OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower (4.99 percent decreasing to 3.87 percent) or 1percentage-point higher (6.99 percent decreasing to 5.87 percent) than the current healthcare cost trend rates: 1% Decrease (4.99 % decreasing to 3.87%) Employers' total OPEB liability

$

7,065,828

81

Current Discount Rate (5.99% decreasing to 4.87%) $

8,045,239

1% Increase ( 6.99% decreasing to5.87%) $

9,244,308


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

4.B. RISK MANAGEMENT The City is exposed to various risks of loss related to torts, theft of, damage to, or destruction of assets; errors and omissions; injuries to employees; employee’s health and life; and natural disasters. The City manages these various risks of loss as follows: Type of Loss

Method Managed

Risk of Loss Retained

a. General Liability: - Torts - Errors and omissions - Police liability - Vehicle

City has insurance coverage for General Liability coverage. All claims are submitted to a third party administrator for determination of liability. Claims below the self-insured retention (SIR) are accounted for within the Liability Tort Claim Fund.

City retains risk of losses up to $100,000 or $250,00 SIR per occurrence with excess coverage up to $5,000,000

b. Physical Property: - Theft - Damage to assets - Natural disasters

City has insurance coverage for Property & Contents and Boiler & Machinery. Claims for losses are submitted to insurance provider for reimbursement of losses.

City retains risk of loss up to the deductible amount of $10,000 for property and $10,000 for B & M. Coverage amounts vary by type of loss.

c. Workers Compensation: - Employee injuries

Self-insured with third-party administration of the claims process. Liability Tort Claim Fund used to account for activities with participating funds charged through an estimated annual claim cost for each fund. Administered by Cannon Cochran Management Services, Inc.

City retains risk of loss for first $450,000 or $750,000 of damage per occurrence depending on job classification. Stop loss insurance carried for damages above the City deductible up to a maximum aggregate of $2,000,000 per occurrence.

d. Health and Life: - Medical - Dental - Vision - Life and ADD - LTD

Self-insured with City paying a portion of health care premiums, and all of life, ADD and LTD premiums. Administered by Aetna, Delta Dental, VSP and Mutual of Omaha.

Claims up to $200,000 per individual self-funded with stop-loss insurance up to $1,000,000 per person.

The City maintains a stop-loss policy for plans to limit risk associated with the plans. For insured programs, there have been no significant reductions in insurance coverage. Settlement amounts have not exceeded insurance coverage for the current year or the four prior years. Claims Liability Analysis The claims liabilities related to the above noted risks of loss that are retained are determined in accordance with the requirements of Statement of Financial Accounting Standards No. 5., which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. The City has elected to report its estimated claim liability at the discounted net present value of future payments. For the internal service self-insurance funds, changes in the claims liability for the City from July 1, 2019 to June 30, 2021, are as follows:

82


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

Workers' Compensation Claim liability, June 30, 2019 Claims and changes in estimates Claims payments Claim liability, June 30, 2020 Claims and changes in estimates Claims payments Claim liability, June 30, 2021

$

$

$

1,596,000 727,214 (632,214) 1,691,000 842,397 (882,397) 1,651,000

Reconciliation to Statement of Net Position: Current portion

Health Care $

$

$

455,514 9,704,171 (9,546,208) 613,477 9,292,072 (9,181,249) 724,300

T ort $ 667,000 84,144 (141,144) $ 610,000 (253,853) 10,853 $ 367,000

T otal 2,718,514 10,515,529 (10,319,566) $ 2,914,477 9,880,616 (10,052,793) $ 2,742,300 $

$

Noncurrent portion

1,331,224 1,411,076

T otal

$

2,742,300

4.C. COMMITMENTS AND CONTINGENCIES Construction Commitments At June 30, 2021, the City had awarded construction contracts totaling $281,391,658 for various City and EPWA projects and of this amount, $101,881,773 was outstanding and payable from various funds. Contingencies Grant Program Involvement In the normal course of operations, the City participates in various federal or state grant/loan programs from year to year. The grant/loan programs are often subject to additional audits by agents of the granting or loaning agency to ensure compliance with specific provisions of the grant or loan. Any liability or reimbursement which may arise as a result of these audits cannot be reasonably determined at this time, although it is believed the amount, if any, would not be material. Litigation The City is a party to various legal proceedings which normally occur in the course of governmental operations. The financial statements do not include accrual or provisions for loss contingencies that may result from these proceedings. State statutes provide for the levy of an ad valorem tax over a three-year period by a City Sinking Fund for the payment of any court assessed judgment rendered against the City. This statutory taxing ability is not available to the City’s public trusts (Authorities). While the outcome of the above noted proceedings cannot be predicted, due to the insurance coverage maintained by the City and the State statute relating to judgments, the City feels that any settlement or judgment not covered by insurance would not have a material adverse effect on the financial condition of the City. 4.D. ECONOMIC DEVELOPMENT The City is party to multiple agreements for the purpose of developing the Interstate 35 corridor within its city limits. In fiscal 2012, the City purchased land along the corridor for $2.2 million for the development of a hotel and conference center. Subsequently, the City entered into a development agreement and committed to lend $4.8 million towards the cost of constructing the conference center. The developer financed the cost of the related hotel and expenditures for the Conference Center that exceed $4.8 million. Rental payments to the City for the use of the underlying land are one dollar a year. The hotel is privately owned and managed. Based on terms of the contract, the developer may purchase the land and conference center from the City for $7 million at any time. If the developer elects to not purchase the land and conference center, the City will lease the land to the developer at a market based rate, including escalators. Alternatively, the City has a contractual commitment from the developer to begin paying back the loan starting in the 10th year from commencing operations of the facility over a term of 25 years. It is 83


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

anticipated sometime during the 2022 calendar year that a request will be made to extend the start date of this payment to reflect the adverse impact placed on the hospitality industry as result of the Covid virus. Many banks and real estate leases have been restructured as a result of the virus. This request to extend the lease payment would be similar to those restructurings. Management of the conference center has been contracted to a third party. In return, the City pays the hotel manager a monthly management fee and office space rental for Visit Edmond which is equal to the monthly hotel tax collected at this facility only. The initial infrastructure improvements which included streets, storm sewer connected with the streets, water and sewer extensions were funded by the City up to $2 million with the developer paying the cost which exceeded the $2 million limit. An additional agreement was established which constructed an enclosed storm sewer through the property that was previously an open drainage way. Making this improvement, at this time, allowed for expansion of the Conference Center in the future. Pursuant to the agreement the City paid the additional expense of the storm sewer pipe not to exceed $1 million. Additionally, the City previously purchased additional land along the corridor in a separate transaction for $2 million for the purpose of developing a sports complex. A ground lease agreement was entered into with a tenant, who will construct the facilities. The tenant has paid the City monthly rentals of $5,000 since as required by the agreement. The tenant has the right to purchase the land for $2 million at any time, if certain conditions are met as stated in the agreement. Alternatively, the City has the right to require the tenant to purchase the land for $2 million on the fifteenth anniversary date of its opening. Both projects have terms that are not within the normal and customary practices of the City, and therefore other than normal credit risks are involved, the City will classify these agreements as operating leases and no additional provisions have been recorded in the accompanying financial statements because of these agreements. In May 2020, the City entered into an agreement with a developer for the development/redevelopment of property in the area of 2nd Street and Santa Fe Drive. The City has agreed to provide infrastructure improvements (consisting of the parking lot with associated lighting and landscaping, alley paving and sidewalk improvements in the rightof-way) up to a cost of $700,000. All cost in excess of the $700,000 shall be paid by the developer. The project is being funded by the Edmond Electric Development Fund. The portion of the cost of the improvements which is attributable to the cost to pave the alley (estimated at approximately $150,000) is being provided in anticipation of being recouped in sales tax generated by the Project. If the project does not generate $5,000,000 annually in local retail sales for six consecutive years, the Developer shall be required to reimburse the City the percentage of the amount uncollected. In July 2020, the City entered into an agreement with a developer for the development of property in the area of West First Street. The City has agreed to provide infrastructure improvements (consisting of streetscape, lighting, utilities, drainage/stormwater, sewer, and landscaping) not to exceed $2,000,000. All cost in excess of $2,000,000 shall be paid by the developer. The project is being funded by the City’s Capital Improvement Project Sales Tax funds. In addition, the EPWA and City will work with other taxing jurisdictions to prepare and consider approval of an increment district under the Local Development Act, 62 O.S. § 850 that will include sufficient authorizations to reimburse or replenish the City’s Capital Improvement Project Sales Tax Funds. 4.E. Tax Abatements The City enters into sales tax rebate agreements with local businesses as allowed in the Oklahoma State Constitution, Article 10, Section 14. Under this law, the City may establish economic development programs and provide sales tax increments for development as part of its economic development plan. The sales tax rebate program allows a developer to receive rebated sales tax in varying amounts. To be eligible for this program, the project area should be occupied by occupants operating a new business of a requisite quality. The sales tax rebate period varies with each agreement. Due to confidentiality laws in Oklahoma statutes Title 68, Section 1354.11, the amounts of sales taxes rebated will not be disclosed. The following businesses had sales tax rebate agreements with the City as of June 30, 2021:

84


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

In November 2017, the City/EPWA entered into an agreement with a developer for the development of an entertainment complex. The complex opened in December 2018 and contains a movie theater and bowling alley. Under the terms of the agreement the EPWA will provide financing assistance not to exceed $4.8 million. The payment will be from the two cents sales tax the complex generates and will be paid quarterly. Taxes of $40,782 were rebated in fiscal year 2021. The agreement terminates in December 2038. In addition, the City has entered into an agreement with a developer for the construction of a hotel/conference center along the I-35 corridor. Under the terms of the agreement the City has agreed to rebate any Hotel Tax collected from the hotel for a period of fifteen years from the anniversary date of the Certificate of Occupancy. Taxes of $110,199 were abated in fiscal year 2021. 4.F. Subsequent Events The citizens passed a .25% sales and use tax increase effective January 1, 2022 to fund parks.

85


CITY OF EDMOND, OKLAHOMA ANNUAL FINANCIAL REPORT June 30, 2021

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86


REQUIRED SUPPLEMENTARY INFORMATION



CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA BUDGETARY COMPARISON SCHEDULE GENERAL FUND For the fiscal year ended June 30, 2021

ORIGINAL BUDGET

FINAL BUDGET

ACTUAL BUDGETARY BASIS

$

$

VARIANCE WITH FINAL BUDGET POSITIVE (NEGATIVE)

REVENUES TAXES: Sales tax

$

Use tax

37,810,479

37,810,479

40,702,216

$

2,891,737

11,008,539

11,008,539

13,321,880

Franchise

2,012,044

2,012,044

1,844,741

Liquor tax

45,000

45,000

182,721

137,721

50,876,062

50,876,062

56,051,558

5,175,496

131,515

131,515

Total Taxes

2,313,341 (167,303)

INTERGOVERNMENTAL: Grant revenues

-

-

Alcoholic beverage

185,000

185,000

241,782

56,782

Cigarette tax

725,000

725,000

699,351

(25,649)

Vehicle tax

689,749

689,749

758,453

68,704

-

-

358,141

358,141

178,481

178,481

163,580

(14,901)

1,778,230

1,778,230

2,352,822

Property resale Gasoline tax

Total Intergovernmental

574,592

CHARGES FOR SERVICES: Recreational program fees Right-of-Way fees

60,000

60,000

24,258

(35,742)

5,840,559

5,840,559

5,630,172

(210,387) (5,834)

Cemetery fees

133,000

133,000

127,166

Curb cut fees

11,000

11,000

10,410

(590)

Animal w elfare fees

50,000

50,000

10,368

(39,632)

Filing fees

65,000

65,000

54,063

(10,937)

911 fees

125,000

125,000

243,147

118,147

5,000

5,000

75,103

70,103

6,289,559

6,289,559

6,174,687

(114,872)

FINES AND FORFEITURES

2,170,000

2,170,000

1,260,602

(909,398)

LICENSES AND PERMITS

1,587,850

1,587,850

1,310,063

(277,787)

INVESTMENT INCOME

150,000

150,000

4,049

(145,951)

MISCELLANEOUS

129,500

129,500

184,754

55,254

62,981,201

62,981,201

67,338,535

4,357,334

17,745,236

17,745,236

19,458,877

1,713,641

17,745,236

17,745,236

19,458,877

1,713,641

Miscellaneous charges

Total Charges for Services

TOTAL REVENUES

OTHER FINANCING SOURCES: Transfers from other funds Total Other Financing Sources TOTAL REVENUES AND OTHER FINANCING SOURCES

$

80,726,437

$

80,726,437

$

86,797,412

$

6,070,975 (Continued)

87


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA BUDGETARY COMPARISON SCHEDULE GENERAL FUND For the fiscal year ended June 30, 2021

ORIGINAL BUDGET

FINAL BUDGET

ACTUAL BUDGETARY BASIS

$

$

VARIANCE WITH FINAL BUDGET POSITIVE (NEGATIVE)

EXPENDITURES General Governm ent: General: Materials and supplies Other services and charges Total General

$

-

936

936

$

-

228,000

287,902

70,682

217,220

228,000

288,838

71,618

217,220

24,545

24,545

23,582

963

8,750

10,193

10,193

-

193,000

213,557

140,657

72,900

226,295

248,295

174,432

73,863

734,896

734,896

701,678

33,218

49,500

49,500

43,916

5,584

191,425

451,512

349,921

101,591

975,821

1,235,908

1,095,515

140,393

200,000

200,000

114,120

85,880

City Council: Personal services Materials and supplies Other services and charges Total City Council Municipal Court: Personal services Materials and supplies Other services and charges Total Judicial

Edmond-Guthrie Regional Airport Other services and charges Cemetery: Personal services

237,038

237,038

180,883

56,155

Materials and supplies

13,918

13,918

12,897

1,021

Other services and charges

63,415

63,415

56,586

6,829

314,371

314,371

250,366

64,005

783,053

783,053

768,740

14,313

13,550

13,550

7,207

6,343

Other services and charges

283,700

283,700

18,552

265,148

Total Planning and Zoning

1,080,303

1,080,303

794,499

285,804

Personal services

94,864

94,864

75,691

19,173

Materials and supplies

11,696

11,696

428

11,268

Total Cemetery Planning and Zoning: Personal services Materials and supplies

Dow ntow n Community Center:

Other services and charges

64,639

64,639

29,279

35,360

171,199

171,199

105,398

65,801

3,195,989

3,538,914

2,605,948

932,966

Personal services

931,583

931,583

855,685

75,898

Materials and supplies

110,950

110,950

62,865

48,085

Other services and charges

505,270

546,491

438,948

107,543

Capital outlay

130,000

132,345

Total Community Image

1,677,803

1,721,369

1,357,498

TOTAL ECONOMIC DEVELOPMENT

1,677,803

1,721,369

1,357,498

Dow ntow n Community Center TOTAL GENERAL GOVERNMENT ECONOMIC DEVELOPMENT: Community Image:

-

132,345 363,871 363,871 (Continued)

88


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA BUDGETARY COMPARISON SCHEDULE GENERAL FUND For the fiscal year ended June 30, 2021

ORIGINAL BUDGET

FINAL BUDGET

VARIANCE WITH FINAL BUDGET POSITIVE (NEGATIVE)

ACTUAL BUDGETARY BASIS

PUBLIC SAFETY: Emergency Management: Personal services

$

Materials and supplies

201,138

$

201,138

$

198,158

$

2,980

44,382

44,382

19,426

24,956

Other services and charges

81,750

81,750

65,457

16,293

Capital outlay

65,000

65,000

-

392,270

392,270

283,041

1,397,365

1,397,365

1,333,621

63,744

60,400

60,400

35,039

25,361

Total Emergency Management

65,000 109,229

Building Department: Personal services Materials and supplies Other services and charges

77,750

102,750

86,892

15,858

Total Building Department

1,535,515

1,560,515

1,455,552

104,963

TOTAL PUBLIC SAFETY

1,927,785

1,952,785

1,738,593

214,192

1,770,000

1,858,000

1,359,626

498,374

1,770,000

1,858,000

1,359,626

498,374

Other services and charges

869,000

878,955

877,705

1,250

TOTAL OUTSIDE AGENCIES

869,000

878,955

877,705

1,250

1,267,285

1,267,285

1,210,731

56,554

211,782

226,782

168,952

57,830

Other services and charges

1,195,600

1,180,600

776,633

403,967

Total Parks and Recreation

2,674,667

2,674,667

2,156,316

518,351

91,673

STREETS AND HIGHWAYS: Capital outlay TOTAL STREETS AND HIGHWAYS OUTSIDE AGENCIES:

PARKS AND RECREATION: Parks and Recreation: Personal services Material and supplies

Senior Center: 385,523

385,523

293,850

Materials and supplies

Personal services

30,988

30,988

24,646

6,342

Other services and charges

70,144

70,144

52,824

17,320

486,655

486,655

371,320

115,335

20,831

20,831

20,503

328

4,165

7,165

6,646

519

Total Senior Citizens Festival Marketplace: Personal services Materials and supplies Other services and charges

46,100

43,100

22,443

20,657

Total Festival Marketplace

71,096

71,096

49,592

21,504

Historical Society: Materials and supplies

750

750

Other services and charges

282,750

307,102

307,102

-

Total Historical Society

283,500

307,852

307,102

750

3,515,918

3,540,270

2,884,330

655,940

12,956,495

13,490,293

10,823,700

2,666,593

Transfers to other funds

(66,517,731)

(89,915,674)

(89,687,318)

228,356

Total Other Financing Uses

(66,517,731)

(89,915,674)

(89,687,318)

228,356

79,474,226

103,405,967

100,511,018

1,252,211

$ (22,679,530)

TOTAL PARKS AND RECREATION TOTAL EXPENDITURES

-

750

OTHER FINANCING SOURCES (USES)

TOTAL EXPENDITURES AND OTHER FINANCING USES REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES

$

89

$

(13,713,606)

2,894,949

$

8,965,924


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

Cit y o f Edm ond, O kla homa Budge tary Comparison Schedule Major Special Revenue Fund - Police Public Safety Limited Tax Fund For the year ended June 30, 2021

Police Public Safety Limited Tax Fund

Original Budget REVENUES Taxes Intergovernmental Charges for services Investment income Miscellaneous Total revenues

$

2,363,142 150,000 3,000 35,000 25,000 2,576,142

ACTUAL BUDGETARY BASIS

Final Budget

$

2,363,142 268,992 3,000 35,000 25,000 2,695,134

$

2,543,858 2,666,371 47,246 456,814 5,714,289

Variance with Final Budget Positive (Negative)

$

180,716 2,397,379 (3,000) 12,246 431,814 3,019,155

EXPENDITURES Current: Public Safety Personal services Materials and supplies Other services and charges Capital outlay Total Expenditures Excess (deficiency) of revenues over expenditures

20,923,124 1,442,330 824,192 23,189,646

20,952,924 2,126,429 925,834 71,817 24,077,004

19,881,592 1,167,867 600,133 71,817 21,721,409

1,071,332 958,562 325,701 2,355,595

(20,613,504)

(21,381,870)

(16,007,120)

5,374,750

OTHER FINANCING SOURCES (USES) Transfers in Transfers out Total other financing sources and uses

23,236,883 (4,573,156) 18,663,727

23,236,883 (4,573,156) 18,663,727

26,198,353 (4,516,354) 21,681,999

2,961,470 (56,802) 2,904,668

Net change in fund balance

$

(1,949,777)

90

$

(2,718,143)

$

5,674,879

$

8,393,022


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

City of Edmond, Oklahoma Budgetary Comparison Schedule Major Special Revenue Fund - Fire Public Safety Limited Tax Fund For the year ended June 30, 2021

Fire Public Safety Limited Tax Fund

Original Budget REVENUES Taxes Intergovernmental Charges for services Investment income Miscellaneous Total revenues

$

4,726,750 6,000 65,000 41,151 4,838,901

ACTUAL BUDGETARY BASIS

Final Budget

$

4,726,750 6,000 65,000 41,151 4,838,901

$

5,087,717 3,527,640 19,670 78,270 44,916 8,758,213

Variance with Final Budget Positive (Negative)

$

360,967 3,527,640 13,670 13,270 3,765 3,919,312

EXPENDITURES Current: Public Safety Personal services Materials and supplies Other services and charges Capital outlay Total Expenditures Excess (deficiency) of revenues over expenditures

19,316,193 998,800 1,147,500 71,000 21,533,493

19,316,793 1,149,115 1,219,051 202,709 21,887,668

18,374,245 975,154 701,320 130,770 20,181,489

942,548 173,961 517,731 71,939 1,706,179

(16,694,592)

(17,048,767)

(11,423,276)

5,625,491

OTHER FINANCING SOURCES (USES) Transfers in Transfers out Total other financing sources and uses

18,943,112 (3,775,608) 15,167,504

18,943,112 (3,775,608) 15,167,504

21,357,354 (3,678,157) 17,679,197

2,414,242 97,451 2,511,693

Net change in fund balances

$

(1,527,088)

91

$

(1,881,263)

$

6,255,921

$

8,137,184


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

NOTES TO BUDGETARY COMPARISON SCHEDULES BUDGETARY ACCOUNTING AND CONTROL Budget Law The City prepares its annual operating budget under the provisions of the Oklahoma Municipal Budget Act of 1979 (the "Budget Act"). In accordance with those provisions, the following process is used to adopt the annual budget: a.

Prior to June 1, the City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following July 1. The operating budget includes proposed expenditures and the means of financing them.

b.

Public hearings are conducted to obtain taxpayer comments. Public hearings are held no later than 15 days prior to the beginning of the budget year.

c.

Subsequent to the public hearings but no later than seven days prior to July 1, the budget is legally enacted through the passage of a resolution by the City Council.

d.

Subsequent to City Council enactment, the adopted budget is filed with the office of the State Auditor and Inspector.

The legal level of control at which expenditures may not legally exceed appropriations is the department level within a fund. The City Manager may only transfer appropriations within expenditure categories within a department without City council approval. Transfers between expenditure categories of a department or fund and budget supplements made during the year are recommended by the City Manager and must be approved by the City Council. Supplemental appropriations must also be filed with the Office of State Auditor and Inspector. Budgetary Accounting The City prepares its budgets for all governmental fund types on a budgetary basis of accounting which differs from the modified accrual basis of accounting in the following areas: Grants that do not result in cash flow and the related expenditures are not budgeted. Internal service fund charges for services are recorded as transfers in the budgetary basis.

92


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

The following is a reconciliation of those differences: City of Edmond, Oklahoma Notes to Budgetary Comparison Schedule Reconciliation of Budgetary Basis to Modified Accrual Basis For the year ended June 30, 2021

General Fund: Total Revenues Transfers In Total Revenues and Other Financing Sources

Per Statement of Revenues, Expenditures, and Changes in Fund Balance

Internal Service Fund Transfers

$

$

Total Expenditures Transfers Out Total Expenditures and Other Financing Uses Net Changes in Fund Balance

Fire Public Safety Limited Tax Fund: Total Revenues Transfers In Total Revenues and Other Financing Sources Total Expenditures Transfers Out Total Expenditures and Other Financing Uses Net Changes in Fund Balance

Police Public Safety Limited Tax Fund: Total Revenues Proceeds of long-term debt Transfers In Total Revenues and Other Financing Sources Total Expenditures Transfers Out Total Expenditures and Other Financing Uses Net Changes in Fund Balance

67,343,741 19,996,877 87,340,618 35,595,739 65,331,720 100,927,459

-

Non-Cash Activity

$

(24,355,598) 24,355,598 -

(13,586,841)

$

-

$

$

11,883,647 21,357,354 33,241,001

$

-

$

$

$

$

6,712,966 989,267 26,198,353 33,900,586 28,181,958 43,000 28,224,958 5,675,628

-

$

$

-

$

Per Budgetary Comparison Schedule

$

$

(8) (8)

$

26,976,781 26,976,781 6,264,220

704 704

Fund Combined for Reporting Purposes

$

$

$

712

(6,169,358) 4,840,999 (1,328,359) (5,255,372) 4,516,354 (739,018) (589,341)

2,045,247 (4,840,999) (2,795,752) (7,011,202) 3,635,157 (3,376,045) 580,293

(5,910) (538,000) (543,910) (416,433) (416,433)

$

$

$

$

$

(127,477)

-

-

67,338,535 19,458,877 86,797,412 10,823,700 89,687,318 100,511,018

$

(13,713,606)

$

5,714,289 26,198,353 31,912,642

$

$

$

21,721,409 4,516,354 26,237,763 5,674,879

8,758,213 989,267 21,357,354 31,104,834 21,170,756 3,678,157 24,848,913 6,255,921

All governmental funds of the city are required to have annual budgets. The City utilized encumbrances accounting under which purchase orders, contracts and other commitments for the expenditure funds are recorded in order to reserve a portion of the applicable appropriation. Encumbered appropriations at year end are lapsed and encumbrances to be honored are re-appropriated in the following budget year.

93


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

Schedules of Required Supplementary Information SCHEDULE OF THE CITY OF EDMOND'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY (ASSET) OKLAHOMA POLICE PENSION & RETIREMENT SYSTEM Last 10 Fiscal Years* For the year June 30, 2015

2016

2017

2018

2019

2020

2021

City's proportion of the net pension liability (asset)

3.0197%

3.1355%

3.4051%

3.4811%

3.5208%

3.5979%

3.5318%

City's proportionate share of the net pension liability (asset)

$ (1,016,693)

$

127,846

$ 5,214,739

$

267,765

$

(1,677,156)

$

(229,691)

City's covered payroll

$

$ 8,831,635

$ 9,974,924

$

10,264,440

$

10,598,091

$

11,700,155

8,445,211

$

4,056,072

$ 11,804,550

City's proportionate share of the net pension liability (asset) as a percentage of its covered payroll

12.04%

1.45%

52.28%

2.61%

15.83%

1.96%

34.36%

Plan fiduciary net position as a percentage of the total pension liability

101.53%

99.82%

93.50%

99.68%

101.89%

100.24%

95.80%

2020

2021

Notes to Schedule: Only seven fiscal years are presented because 10-year data is not yet available.

SCHEDULE OF CITY CONTRIBUTIONS OKLAHOMA POLICE PENSION & RETIREMENT SYSTEM Last 10 Fiscal Years *

2015 Statutorily required contribution

$

Contributions in relation to the statutorily required contribution

1,152,006

$

1,152,006

Contribution deficiency (excess)

$

City's covered payroll

$

Contributions as a percentage of covered payroll

2016

8,831,635

2017

1,305,813

$

1,349,366

1,305,813 $ $

9,974,924

13%

2018 $

1,349,366 $ $

10,264,440

13%

13%

Notes to Schedule: Only seven fiscal years are presented because 10-year data is not yet available.

94

2019

1,380,245

$

1,380,245 $ $

10,598,091

13%

1,469,019

$

1,469,019 $ $

11,700,155

13%

1,537,710

$

1,537,710 $ $

11,804,550

13%

1,470,898

1,470,898 $ $

11,314,601

13%


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

Schedules of Required Supplementary Information SCHEDULE OF THE CITY OF EDMOND'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY OKLAHOMA FIREFIGHTERS PENSION & RETIREMENT SYSTEM Last 10 Fiscal Years* For the year June 30,

City's proportion of the net pension liability

2015

2016

2017

2018

2019

2020

2021

3.5619241%

3.566186%

3.764069%

3.774118%

3.801623%

3.958970%

4.021319%

City's proportionate share of the net pension liability

$

36,628,970

$

37,851,799

$

45,986,170

$

47,467,983

$

42,792,838

$

41,833,083

$

49,539,163

City's covered payroll

$

9,729,108

$

9,743,764

$

10,528,981

$

10,727,533

$

11,215,029

$

12,190,179

$

12,908,239

City's proportionate share of the net pension liability as a percentage of its covered payroll

376.49%

388.47%

436.76%

442.49%

381.57%

343.17%

383.78%

Plan fiduciary net position as a percentage of the total pension liability

68.12%

68.27%

64.87%

66.61%

70.73%

72.85%

69.98%

Notes to Schedule: Only seven fiscal years are presented because 10-year data is not yet available.

SCHEDULE OF CITY CONTRIBUTIONS OKLAHOMA FIREFIGHTERS PENSION & RETIREMENT SYSTEM Last 10 Fiscal Years

2015 Statutorily required contribution

$

Contributions in relation to the statutorily required contribution

1,364,114

$

1,364,114

Contribution deficiency (excess)

$

City's covered payroll

$

Contributions as a percentage of covered payroll

2016

9,743,764

2017

1,474,042

$

1,474,042 $ $

14%

10,528,981

2018

1,501,841

$

1,501,841 $ $

14%

10,727,533

14%

Notes to Schedule: Only seven fiscal years are presented because 10-year data is not yet available.

95

2019

1,570,090

$

1,570,090 $ $

11,215,029

14%

2020

1,717,405

$

1,717,405 $ $

12,190,179

14%

2021

1,807,139

$

1,807,139 $ $

12,908,239

14%

1,839,213

1,839,213 $ $

12,585,149

14%


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

SCHEDULE OF CHANGES IN THE CITY'S NET PENSION LIABILITY AND RELATED RATIOS SINGLE-EMPLOYER DEFINED BENEFIT PENSION PLAN Last 10 Fiscal Years* For the year June 30. 2015 Total pension liability Service cost Interest Changes of benefit terms Difference between expected and actual experience Changes of assumptions Benefit payments, including refunds of member contributions Net change in total pension liability Total pension liability-beginning Total pension liability-ending (a) Plan fiduciary net position Contributions-employer Contributions-member Net investment income Benefit payments, including refunds of member contributions Administrative expense Net change in plan fiduciary net position Plan fiduciary net position-beginning Plan fiduciary net position-ending (b) City's net pension liability - ending (a)-(b)

$

$

$

City's net pension liability as a percentage of covered employee payroll

2,465,096 4,803,663 1,229,173 700,579 (2,164,180) 7,034,331 64,855,477 71,889,808

$

$

$

$

1,965,953 1,264,678 8,331,083 (2,164,180) (38,377) 9,359,157 56,730,705 66,089,862

$

5,799,946

Plan fiduciary net position as a percentage of the total pension liability Covered payroll

2016

2,619,414 5,193,616 584,011 (3,135,897) 5,261,144 71,889,808 77,150,952

23,801,107

$

$

$

$

2,108,839 1,338,561 (2,627,009) (3,135,897) (30,748) (2,346,254) 66,089,862 63,743,608

$

13,407,344

91.93% $

2017

25,382,314

24.37%

52.82%

Notes to Schedule: Only seven fiscal years are presented because 10-year data is not yet available.

96

$

$

$

$

2,292,339 1,400,380 (1,060,450) (3,610,999) (27,211) (1,005,941) 63,743,608 62,737,667

$

19,919,368

82.62% $

2,822,532 5,565,362 729,188 (3,610,999) 5,506,083 77,150,952 82,657,035

2018

26,613,450 74.85%

$

$

$

$

2,465,138 1,458,953 6,935,917 (3,163,789) (12,050) 7,684,169 62,737,667 70,421,836

$

18,051,070

75.90% $

2,909,090 5,983,564 87,006 (3,163,789) 5,815,871 82,657,035 88,472,906

2019

27,957,092 64.57%

$

$

$

$

2,621,560 1,478,406 3,803,053 (4,529,684) (3,050) 3,370,285 70,421,837 73,792,122

$

19,833,265

79.60% $

2,973,834 6,358,873 349,458 (4,529,684) 5,152,481 88,472,906 93,625,387

2020

29,150,410 68.04%

3,080,463 6,758,728 671,204 4,050,122 (3,897,867) 10,662,650 93,625,387 104,288,037

$

$

3,298,476 7,498,258 (536,523) (284,766) (5,056,825) 4,918,620 104,288,038 109,206,658

$

$

2,755,222 1,534,738 4,264,543 (3,897,867) (6,336) 4,650,300 73,792,118 78,442,418

$

3,001,783 1,606,610 (1,046,792) (5,056,825) (5,928) (1,501,152) 78,442,418 76,941,266

$

25,845,619

$

32,265,392

$

31,780,757

78.82% $

2021

75.22% $

30,797,305 83.92%

70.45%

101.52%


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

SCHEDULE OF EMPLOYER CONTRIBUTIONS SINGLE-EMPLOYER DEFINED BENEFIT PENSION PLAN Last 10 Fiscal Years For the year June 30. 2017 Actuarially determined contribution Contributions in relation to the actuarially determined contribution Contribution deficiency (excess)

$

Covered payroll

2018 $

$

2,569,913 2,441,134 128,779

$

27,194,847

$

Contributions as a percentage of covered payroll

2019

2,672,395 2,738,281 (65,886)

$

28,160,118

9.45%

$

2020 $

$

2,870,691 2,665,048 205,643

$

29,233,107

9.49%

2021 $

$

3,574,326 2,987,489 586,837

$

30,602,103

$

9.82%

3,484,201 3,692,735 (208,534)

$

29,606,306

9.76%

12.47%

SCHEDULE OF EMPLOYER CONTRIBUTIONS (Continued) SINGLE-EMPLOYER DEFINED BENEFIT PENSION PLAN Last 10 Fiscal Years For the year June 30. 2012 Actuarially determined contribution Contributions in relation to the actuarially determined contribution Contribution deficiency (excess)

$

Covered payroll

2013 $

$

1,803,629 1,886,892 (83,263)

$

22,630,229

Contributions as a percentage of covered payroll

2014 $

$

1,846,314 1,822,720 23,594

$

22,598,708

7.97%

$

$

2,004,213 1,965,953 38,260

$

24,089,104

8.17%

Notes to Schedule: Valuation date: Actuarially determined contribution rates are calculated as of June 30, one year prior to the end of the fiscal year in which contributions are reported. Methods and assumptions used to determine contribution rates: Actuarial cost method

Entry Age Normal

Amortization method

Level dollar

Remaining amortization period

30 years rolling

Asset valuation method

Market value

Inflation

2.5%

Salary Increases

5.0% average including inflation plus age-scale

Investment rate of return

7.25% per annum

Retirement age

Plan experience as last measured in 2011

Mortality

PubG-2010 63-37 with cohort projection by Scale MP2020

97

2015

8.32%

2016 $

$

2,195,239 2,108,839 86,400

$

2,397,984 2,292,339 105,645

$

25,496,393

$

26,673,905

8.61%

8.99%


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

PENSION FUND - SCHEDULE OF INVESTMENT RETURNS Last 10 Fiscal Years * Year Ended June 30. 2015

Annual money-weighted rate of return, net of investment expense

Year Ended June 30. 2016

Year Ended June 30. 2017

-3.97%

-1.66%

14.55%

Notes to Schedule: Only seven fiscal years are presented because 10-year data is not yet available.

98

Year Ended June 30. 2018

5.42%

Year Ended June 30. 2019

5.76%

Year Ended June 30. 2020

-1.34%

Year Ended June 30. 2021

34.69%


CITY OF EDMOND, OKLAHOMA REQUIRED SUPPLEMENTARY INFORMATION June 30, 2021

Schedule of Changes Total OPEB Liability and Related Ratios Postemployment Health Insurance Implicit Rate Subsidy Plan

2018 Total OPEB Liability Service cost Interest Difference between expected and actual experience Changes in assumptions Benefits paid Net change in total OPEB liability

$

2019

347,426 166,825 (365,447) (187,469) (38,665)

$

323,640 229,895 (16,169) (599,130) (201,139) (262,903)

2020

$

302,450 237,525 217,852 254,676 (207,852) 804,651

2021

$

396,676 246,275 19,955 1,020,944 (278,374) 1,405,476

Balances at Beginning of Year Balances End of Year

$

6,136,680 6,098,015

$

6,098,015 5,835,112

$

5,835,112 6,639,763

$

6,639,763 8,045,239

Covered employee payroll

$

39,000,000

$

44,770,000

$

52,556,000

$

53,641,000

Total OPEB liability as a percentage of coveredemployee payroll

15.64%

Notes to Schedule: Only four year's of data is presented because 10-year data is not yet available

99

13.03%

12.63%

15.00%


THIS PAGE INTENTIONALLY LEFT BLANK

100


OTHER SUPPLEMENTARY INFORMATION



CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

GENERAL FUND Under GASB Statement 54 certain funds no longer met the definition to be presented as Special Revenue Funds. Those funds became sub-funds of the General Fund for reporting purpose. For reporting purposes, the General Fund contains the following sub-funds: GENERAL FUND - The primary operating fund of the City. The General Fund is reported as a major governmental fund. It is used to account for all activities except those legally or administratively required to be accounted for in other funds. REAL PROPERTY SUB-FUND - The Real Property Sub-Fund has been established to accumulate resources for future real property acquisitions of the City. Financing is provided by transfers of investment earnings from the Hospital Sale Trust Fund. EDMOND ELECTRIC ECONOMIC DEVELOPMENT S U B - FUND – The Economic Development S u b Fund has been established to stimulate the growth of Edmond's economy by offering services that facilitate the growth and expansion of new and existing businesses and generating opportunities to increase the sales tax base of the City of Edmond. PARK SPECIAL EVENTS SUB-FUND – The Park Special Events Sub-Fund has been established to account for donations and fees related to culture and recreation events. SIDEWALK AND DRIVEWAY ESCROW SUB-FUND – The Sidewalk and Driveway Escrow Sub-Fund has been established to account for contractor performance deposits held by the City on various City construction projects. The deposits are refunded after the projects have been satisfactorily completed.

101


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

City of Edmond, Oklahoma Balance Sheet General Fund Accounts June 30, 2021

ASSETS Cash and cash equivalents Investments Due from other funds Due from other governments Accrued interest receivable Other receivables Total assets

LIABILITIES, DEFERRED INFLOWS, AND FUND BALANCES Liabilities: Accounts payable Due to other funds Unearned revenue Amounts held in escrow Total liabilities

$

$

$

DEFERRED INFLOWS OF RESOURCES Unavailable revenue Total deferred inflows of resources Fund balances: Restricted Unassigned Total fund balances Total liabilities, deferred inflows of resources and fund balances

251,278 747 8,395,932 1,105,992 9,753,949

$

1,076,409 7,509,537 16,852 299,058 8,901,856

$

$

75,170 492,002 1,694 568,866

$

-

$

562,737 562,737

$

3,014,106 (2,724,750) 289,356 9,753,949

Edmond Electric Economic Development

Real Property Fund

General Fund

$

$

Park Special Events

111,819 731,880 2,521 846,220

$

227,045 227,045

$

$

Sidewalk and Driveway Escrow

10,969 71,793 247 83,009

$

-

$

826 826

1,231 1,231

121 121

568,040 568,040 568,866

617,944 617,944 846,220

82,888 82,888 83,009

102

$

$

$

Total General Fund

407,527 407,527

$

407,527 407,527

$

$

#

$

1,303,454 7,509,537 16,852 706,585 9,536,428

564,915 564,915

-

407,527

856,763 1,295,675 747 8,395,932 4,462 1,105,992 11,659,571

$

3,014,106 (1,455,878) 1,558,228 11,659,571


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

City of Edmond, Oklahoma Statement of Revenues, Expenditures and Changes in Fund Balances General Fund Accounts For the Year Ended June 30, 2021

Real Property Fund

General Fund REVENUES Sales and use taxes Franchise and public service taxes Intergovernmental Charges for services Fines and forfeitures Licenses and permits Investment income Miscellaneous Total revenues

$

EXPENDITURES Current: General government Public safety Health and sanitation Culture, parks and recreation Streets and highways Capital Outlay Total Expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Total other financing sources and uses Net change in fund balances

$

23 23

32,158,525

1,903

438,000 438,000 439,903

14,003,674 $

1,926 1,926

7,029,831 3,529,081 779,538 4,163,821 18,317,409 1,359,626 35,179,306

19,458,877 (65,331,720) (45,872,843) (13,714,318)

Fund balances - beginning Fund balances - ending

54,024,096 2,027,462 2,352,820 6,204,684 1,260,602 1,268,230 4,056 195,881 67,337,831

289,356

Edmond Electric Economic Development

Park Special Events

$

$

416,403 416,403

128,137 $

568,040

103

2,802 2,802

$

Total General Fund -

$

54,024,096 2,027,462 2,352,820 6,204,792 1,260,602 1,268,230 9,033 196,706 67,343,741

7 7

-

7,446,257 3,529,081 779,538 4,163,828 18,317,409 1,359,626 35,595,739

(413,601)

1,175

-

31,748,002

100,000 100,000 (313,601)

1,175

-

19,996,877 (65,331,720) (45,334,843) (13,586,841)

931,545 $

108 249 825 1,182

Sidewalk and Driveway Escrow Fund

617,944

81,713 $

82,888

$

-

15,145,069 $

1,558,228


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

City of Edmond, Oklahoma Schedule of Revenues, Expenditures and Changes in Fund Balance-Budgetary Basis Budget and Actual - General Fund Sub-Funds For the year ended June 30, 2021

EDMOND ELECTRIC ECONOMIC DEVELOPMENT

Budget

PARKS SPECIAL EVENTS FUND

Variance Positive (Negative)

Actual

Budget

Variance Positive (Negative)

Actual

Revenues: Charges for services

$

Investment income Miscellaneous Total Revenues

$

-

$

-

6,000

2,802

-

-

6,000

$

-

$

$

-

$

(3,198) -

2,802

$

-

$

(3,198)

$

17,000

$

108

$

(16,892)

250

249

(1)

4,500

825

(3,675)

21,750

$

-

$

1,182

$

-

$

(20,568)

Expenditures: General Government: Personal services

$

Materials and supplies

-

$

-

-

-

-

-

-

-

250

82

168

-

-

-

Capital outlay

700,000

416,321

283,679

-

-

-

Debt service

-

-

-

-

-

-

Other services and charges

Total General Government

$

700,250

$

416,403

$

283,847

$

$

$

-

$

-

$

Other service and charges

-

Capital outlay

-

-

$

-

$

-

$

-

$

-

Parks and Recreation: Personal services Materials and supplies

Total Parks and Recreation

Total Expenditures Revenues over (under) expenditures

-

-

-

1,000

-

1,000

17,350

7

17,343

-

-

-

$

-

$

-

$

-

$

18,350

$

7

$

18,343

$

700,250

$

416,403

$

283,847

$

18,350

$

7

$

18,343

$

(694,250)

$

(413,601)

$

280,649

$

3,400

$

1,175

$

(2,225)

Other financing sources (uses): Transfers from other funds Total of other financing resources Revenues and other sources over (under) expenditures and other uses

100,000

-

-

-

-

100,000

100,000

-

-

-

-

(594,250)

(313,601)

280,649

3,400

1,175

931,545

Fund Balance-beginning of year Fund Balance -end of year

100,000

$

337,295

931,545 $

617,944

104

$

280,649

81,713 $

85,113

(2,225)

81,713 $

82,888

$

(2,225)


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

City of Edmond, Oklahoma Schedule of Revenues, Expenditures and Changes in Fund Balance-Budgetary Basis Budget and Actual - General Fund Sub-Funds For the year ended June 30, 2021 (Continued)

REAL PROPERTY FUND

Budget

Variance Positive (Negative)

Actual

Revenues: Charges for services

$

Investment income Miscellaneous Total Revenues

$

-

$

-

$

-

1,300

1,926

626

-

-

-

1,300

$

-

$

1,926

$

-

$

626

Expenditures: General Government: Personal services

$

Materials and supplies Other services and charges

-

-

-

1,500

23

1,477

Capital outlay

438,000

-

438,000

Debt service

-

-

-

Total General Government

$

439,500

$

23

$

439,477

$

$

-

$

Other service and charges

-

-

Capital outlay

-

Parks and Recreation: Personal services Materials and supplies

Total Parks and Recreation

Total Expenditures Revenues over (under) expenditures

-

-

$

-

$

-

$

-

$

439,500

$

23

$

439,477

$

(438,200)

$

1,903

$

440,103

Other financing sources (uses): Transfers from other funds Total of other financing resources Revenues and other sources over (under) expenditures and other uses

438,000

-

-

-

-

439,903

440,103

128,137

-

(200) 128,137

Fund Balance-beginning of year Fund Balance -end of year

438,000

$

105

127,937

$

568,040

$

440,103


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

NONMAJOR GOVERNMENTAL FUNDS Special Revenue Funds Special Revenue Funds are used to account for the proceeds of specific revenue sources that are normally restricted to expenditures for specified purposes. CDBG ENTITLEMENT - This fund was established by the City to account for the grants received from the Federal government through the Oklahoma Department of Commerce under various Community Development Block Grant programs. ASSET FORFEITURE FUND - The Asset Forfeiture Fund has been established to account for assets that are equitably distributed by the Drug Enforcement Administration to state and local agencies that directly participate in the law enforcement effort that leads to the seizure of assets used in illegal drug activities. The assets received must be for only law enforcement purposes such as enhancements to future investigations, law enforcement training, equipment, operations and overtime for enforcement activities. SENIOR CITIZENS FUND - This fund was established to account for dedicated revenues received for the benefit of senior citizens, including grants, donations and other resources. The expenditures of the fund are administratively restricted for the benefit of senior citizens' activities or programs. CONVENTION & VISITORS BUREAU – The Convention & Visitors Bureau Fund accounts for the Hotel/Motel tax revenues that the City collects. It is restricted for tourism, conventions, and visitors’ bureau. HOSPITAL SALE TRUST FUND –The Hospital Sale Trust Fund was established in 1981 to account for the proceeds of approximately $7,200,000 received from the sale of the Edmond Memorial Hospital to the Hospital Corporation of America. Use of the trust principal must first be approved by a vote of the citizens of the City. Investment earnings from the trust may be appropriated without voter approval but are restricted to capital improvements. AMBULATORY SERVICE FUND – The Ambulatory Service Fund provides funding of the City of Edmond’s Ambulance Services through the regional Emergency Medical Services Authority (EMSA). It primarily covers those citizens who have elected to participate in the TotalCare Program which is a monthly fee of $3.00 paid through utility billing which began in FY 09-10. Capital Project Funds The Capital Project Funds have been established to account for all major capital improvements, except those accounted for in proprietary type funds, which are financed by the City's sales tax revenue bond issues, General Fund transfers, and other designated sources. CEMETERY PERPETUAL CARE FUND - The Cemetery Perpetual Care Fund has been established to account for 20% of all monies received from the sale of lots and interments as established by City Council. Monies received must be used for making capital improvements. AMERICAN RESCUE PLAN FUND – The American Rescue Plan Fund has been established to account for monies received from the federal government under the American Rescue Plan Act.

(continued)

106


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CEMETERY CARE FUND - The Cemetery Care Fund has been established to account for 12.5% of all monies received from the sale of lots and interments in accordance with state law. Monies received must be used to purchase lands for cemeteries and for making capital improvements. Interest earned may be used for improving, caring for, and embellishing cemetery property. PARK SALES TAX FUND - The Park Sales Tax Fund has been established to account for operations and facility improvement costs of the City’s park and recreation system. Financing is provided by a permanent one-eighth cent sales tax approved by the voters in September 1992 and expanded in 2000 to include all city parks. ART IN PUBLIC PLACES FUND – The Art in Public Places Fund has been established to account for art acquisitions by the City. Financing is provided by donations, investment earnings and other City funds as determined by the City Council. CAPITAL IMPROVEMENT FUND - The Capital Improvement Fund was established to account for major capital improvements that are financed by the General Fund and other designated sources which are outlined in the City's five year Capital Improvements program. The fund is funded primarily from General Fund transfers. ROADWAY IMPROVEMENT FUND - The Roadway Improvement Fund has been established to account for street construction and improvement projects as approved by the voters on May 10, 1994. The improvements are financed by a temporary seven-eighths cent sales tax which ended in FY1995. The remainder of funds are planned to be expended on street improvements. 1996 CAPITAL IMPROVEMENT TAX FUND - The 1996 Capital Improvements Tax Fund has been established to account for various capital improvements as recommended by the Citizens Capital Improvements Planning Committee and approved by the voters on August 27, 1996. The improvements are being financed by a three-fourths cent sales tax for a five year period beginning November 1, 1996. Funded from the tax are street improvements, radio communication system and computer aided dispatch, water treatment plant expansion, library expansion, senior citizens center, and a city wide sidewalk project. 2012 PUBLIC SAFETY CENTER TAX FUND – used to account for the proceeds of a five year half cent voter-restricted limited purpose sales tax to be used for the development of the City’s Public Safety Center and other capital project as approved by the voters. 2017 CAPITAL IMPROVEMENT FUND - The 2017 Capital Improvements Fund has been established to account for various capital improvements as recommended by the Capital Improvement Project Advisory Board. Their recommendations are forwarded to the City Council for their approval. This fund replaces the 2012 Public Safety Center-Capital Improvements Tax Fund, established to account for the capital construction cost of a new Public Safety Center and other capital improvements. The improvements are being financed by a 10 year one-half cent sales tax approved by voters on April 2016 and commenced on April 1, 2017 and will run for ten years, unless extended by the voters.

107


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

SPECIAL REVENUE FUNDS CDBG Entitlement Fund ASSETS Cash and cash equivalents Investments Due from other funds Due from other governments Accrued interest receivable Other receivable Total assets

$

$

Asset Forfeiture Fund -

-

$

LIABILITIES, DEFERRED INFLOW AND FUND BALANCES Liabilities: Accounts payable $ 37,180 Due to other funds 115,826 Unearned revenue Total liabilities 153,006 DEFERRED INFLOWS OF RESOURCES Unavailable revenue Total deferred inflows of resources

Fund balances: Restricted Committed Assigned Unassigned (deficit) Total fund balances Total liabilities, deferred inflows of resources and fund balances

$

$

-

(153,006) (153,006) $

-

$

Senior Center Fund

91,371 598,042 2,059 691,472

$

42,782 42,782

$

$

CAPTIAL PROJECT FUND

Convention and Visitor's Bureau Fund

42,902 280,806 967 324,675

$

3,067 3,067

$

$

Hospital Sale Trust Fund

22,825 149,397 514 45,874 218,610

$

17,143 17,143

$

$

Ambulatory Service Fund

185,524 7,060,028 473 7,246,025

$

-

$

$

152,332 997,047 3,434 34,998 1,187,811

$

-

$

$

17,914 117,255 404 135,573

$

-

$

1,005 1,005

472 472

252 252

-

1,676 1,676

198 198

559,262 88,423 647,685

191,520 98,555 31,061 321,136

173,315 27,900 201,215

7,246,025 7,246,025

1,115,348 70,787 1,186,135

135,375 135,375

691,472

$

324,675

108

$

218,610

$

7,246,025

$

American Rescue Plan Fund

Cemetery Perpetual Care

1,187,811

$

135,573

$

841,911 5,510,504 18,978 6,371,393

6,370,658 6,370,658

9,262 9,262

(8,527) (8,527) $

6,371,393 (Continued)


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CAPITAL PROJECT FUNDS

ASSETS Cash and cash equivalents Investments Due from other funds Due from other governments Accrued interest receivable Other receivable Total assets

LIABILITIES AND FUND BALANCES Liabilities: Accounts payable Due to other funds Deferred revenue Total liabilities

Cemetery Care

Park Sales Tax Fund

$

25,483 166,792 575 192,850

$

-

$

$

$

DEFERRED INFLOWS OF RESOURCES Unavailable revenue Total deferred inflows of resources

Fund balances: Restricted Committed Assigned Unassigned (deficit) Total fund balances Total liabilities, deferred inflows of resources and fund balances

$

$

Art in Public Places Fund

655,405 2,980,734 391,832 10,268 4,038,239

$

183,898 183,898

$

$

Capital Improvement Fund

5,712 37,383 73,470 128 116,693

$

9,580 9,580

$

$

Roadway Improvement Fund

79,596 520,972 1,795 602,363

$

65,301 65,301

$

$

2012 Public Safety Center Tax Fund

1996 CIP Tax Fund

1,559 10,207 35 11,801

$

-

$

$

8,494 55,595 191 64,280

$

-

$

$

2017 Capital Improvement Fund

10 68 78

$

-

$

$

2,842,590 18,605,418 1,567,327 64,075 23,079,410

$

567,158 567,158

$

280 280

5,010 5,010

62 62

876 876

17 17

94 94

-

31,271 31,271

173,032 19,538 192,570

3,293,198 556,133 3,849,331

94,491 12,560 107,051

536,186 536,186

10,197 1,587 11,784

11,173 53,013 64,186

78 78

22,480,981 22,480,981

192,850

$

4,038,239

$

116,693

$

109

602,363

$

11,801

$

64,280

$

78

$

Total Governmental Funds

23,079,410

$

4,973,628 37,090,248 73,470 1,959,159 84,918 99,850 44,281,273

926,109 115,826 6,370,658 7,412,593

50,475 50,475

35,483,995 98,555 1,397,188 (161,533) 36,818,205 $

44,281,273


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

SPECIAL REVENUE FUNDS CDBG Entitlement Fund REVENUES Sales and use taxes Hotel/motel taxes Intergovernmental Charges for services Investment earnings Investment earnings on interfund loans Miscellaneous Total revenues

$

EXPENDITURES Current: General government Public Safety Health and welfare Culture, parks and recreation Capital Outlay Total Expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out

899,768 1,020 900,788

$

Fund balances - beginning $

1,164 5,940 7,104

Convention and Visitor's Bureau Fund

Senior Center Fund $

52 980 33,870 34,902

$

487,155 414 17,026 504,595

Hospital Sale Trust Fund $

(36,357) (2,315) (38,672)

Ambulatory Service Fund $

Cemetery Perpetual Care

893,145 3,854 896,999

$

American Rescue Plan Fund

36,190 (1,309) 34,881

118,951 834,796 953,747

224,057 54,842 278,899

31,111 31,111

432,840 432,840

2,200 2,200

700,813 700,813

-

(52,959)

(271,795)

3,791

71,755

(40,872)

196,186

34,881

-

65,000 (105,061)

(438,000)

-

-

3,791

(40,061) 31,694

(438,000) (478,872)

196,186

34,881

989,949

100,494

-

Total other financing sources and uses Net change in fund balances

Fund balances - ending

Asset Forfeiture Fund

CAPTIAL PROJECT FUND

-

(52,959)

(271,795)

(100,047)

919,480

(153,006)

$

647,685

317,345 $

321,136

110

169,521 $

201,215

7,724,897 $

7,246,025

$

1,186,135

$

135,375 -

$

(8,527) (8,527)

(8,527)

(8,527) $

(8,527) (Continued)


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CAPITAL PROJECT FUNDS

REVENUES Sales and use taxes Hotel/motel taxes Intergovernmental Charges for services Investment earnings Investment earnings on interfund loans Miscellaneous Total revenues

Cemetery Care

Park Sales Tax Fund

$

$

EXPENDITURES Current: General government Public Safety Health and welfare Culture, parks and recreation Capital Outlay Total Expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Total other financing sources and uses Net change in fund balances Fund balances - beginning Fund balances - ending

22,619 2,475 25,094

$

(758) 225,855 225,097

Capital Improvement Fund $

774 774

Roadway Improvement Fund $

2012 Public Safety Center Tax Fund

1996 CIP Tax Fund

12 12

$

66 66

$

2017 Capital Improvement Fund

(1) (1)

$

10,174,953 84,957 10,259,910

Total-Other Governmental Funds $

12,718,811 487,155 899,768 952,006 57,853 385,173 15,500,766

1,968 1,968

1,219,403 570,474 1,789,877

13,277 657,371 670,648

39 364,330 364,369

1 1

5 5

-

145,314 5,371,486 5,516,800

701,318 224,057 700,813 1,263,791 7,853,299 10,743,278

23,126

867,867

(445,551)

(363,595)

11

61

(1)

4,743,110

4,757,488

-

(100,000)

455,808 -

675,000 -

-

-

-

2,415,016 -

3,610,824 (643,061)

23,126

(100,000) 767,867

455,808 10,257

675,000 311,405

11

61

(1)

2,415,016 7,158,126

2,967,763 7,725,251

96,794

224,781

11,773

64,125

79

15,322,855

29,092,954

169,444 $

2,543,858 10,109 103,777 2,657,744

Art in Public Places Fund

192,570

3,081,464 $

3,849,331

$

107,051

$

111

536,186

$

11,784

$

64,186

$

78

$

22,480,981

$

36,818,205


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE-BUDGETARY BASIS BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS For the fiscal year ended June 30, 2021 SPECIAL REVENUE FUNDS CDBG ENTITLEMENT

Budget

ASSET FORFEITURE FUND Variance Positive (Negative)

Actual

Budget

Variance Positive (Negative)

Actual

Revenues: Taxes

$

Intergovernmental

-

$

1,182,752

-

$

899,769

-

$

(282,983)

-

$

-

-

$

-

-

Charges for services

-

-

-

-

-

Investment income

-

-

-

2,000

1,164

Miscellaneous

-

1,018

1,018

-

5,940

5,940

1,182,752

900,787

2,000

7,104

5,104

Total Revenues

(281,965)

(836)

General Government: Personal services

-

-

-

-

1,950

1,215

735

-

-

-

1,244,416

59,535

870,516

373,900

-

-

-

Capital outlay

-

-

-

-

-

-

Debt service

-

-

-

-

-

-

1,305,901

931,266

374,635

-

-

-

Materials and supplies Other services and charges

Total General Government

59,535

Public Safety: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

233,681

185,962

47,719

Other services and charges

-

-

-

64,836

18,768

46,068

Capital outlay

-

-

-

153,367

74,169

79,198

-

-

-

451,884

278,899

172,985

Total Public Safety Parks and Recreation: Personal services

-

-

-

-

-

-

Material and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Parks and Recreation Health & Welfare: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Health & Welfare Economic Development & Opp. Personal services

-

-

-

-

Materials and supplies

-

-

-

-

Other services and charges

-

-

-

-

Capital outlay Total Economic Development & Opp

-

-

-

-

-

-

-

-

-

-

-

-

Street: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

Total Street Total Expenditures Revenues over (under) expenditures

$

-

-

-

-

-

-

1,305,901

931,266

374,635

451,884

278,899

172,985

(123,149)

$

(30,479)

$

92,670

$

(449,884)

$

(271,795)

$

178,089

Other financing sources (uses): Transfers from other funds

-

-

-

-

(22,481)

-

(22,481)

-

-

-

-

Revenues and other sources over (under) expenditures and other uses

(145,630)

(52,960)

92,670

Fund Balance-beginning of year

(100,047)

(100,047)

-

Transfers to other funds

Fund Balance -end of year

$

(245,677)

-

$

(153,007)

$

92,670

$

(449,884)

(271,795)

919,480

919,480

469,596

$

647,685

178,089 $

178,089 (continued)

112


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE-BUDGETARY BASIS BUDGET AND ACTUAL - NONMAJOR GOVERNEMNTAL FUNDS For the fiscal year ended June 30, 2021 SPECIAL REVENUE FUNDS SENIOR CENTER FUND

Budget

CONVENTION AND VISITOR'S BUREAU FUND Variance Positive (Negative)

Actual

Budget

Variance Positive (Negative)

Actual

Revenues: Taxes

$

Intergovernmental Charges for services Investment income Miscellaneous Total Revenues

-

$

-

-

-

1,415

52

$

-

$

(1,363)

575,000

$

487,155

$

(87,845)

-

-

-

-

-

-

1,803

979

(824)

500

415

(85)

64,426

33,871

(30,555)

20,000

17,026

(2,974)

67,644

34,902

(32,742)

595,500

504,596

(90,904)

General Government: Personal services

-

-

-

295,215

295,215

-

Materials and supplies

-

-

-

4,200

1,126

3,074

Other services and charges

-

-

-

121,782

78,445

43,337

Capital outlay

-

-

-

-

-

-

Debt service

-

-

-

-

-

-

-

-

-

421,197

374,786

46,411

Total General Government Public Safety: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Public Safety Parks and Recreation: Personal services

-

-

-

-

-

-

Material and supplies

23,860

19,630

4,230

-

-

-

Other services and charges

48,110

11,481

36,629

-

-

-

-

-

-

-

-

71,970

31,111

40,859

-

-

-

Capital outlay Total Parks and Recreation Health & Welfare: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Health & Welfare Economic Development & Opp. Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Economic Development & Opp Street: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

Total Street Total Expenditures Revenues over (under) expenditures

$

-

-

-

-

-

-

71,970

31,111

40,859

421,197

374,786

46,411

(4,326)

$

3,791

$

8,117

$

174,303

$

129,810

$

(44,493)

Other financing sources (uses): Transfers from other funds

-

-

-

100,000

65,000

(35,000)

Transfers to other funds

-

-

-

(168,054)

(163,115)

4,939

3,791

8,117

106,249

31,695

(74,554)

317,345

-

169,521

169,521

Revenues and other sources over (under) expenditures and other uses

(4,326) 317,345

Fund Balance-beginning of year Fund Balance -end of year

$

313,019

$

321,136

$

8,117

$

275,770

$

201,216

$

(74,554) (continued)

113


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE-BUDGETARY BASIS BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS For the fiscal year ended June 30, 2021 SPECIAL REVENUE FUNDS HOSPITAL SALES TRUST FUND

Budget

AMBULATORY SERVICE FUND Variance Positive (Negative)

Actual

Budget

Variance Positive (Negative)

Actual

Revenues: Taxes

$

Intergovernmental

-

$

-

Charges for services

-

Investment income Miscellaneous Total Revenues

-

$

-

-

$

-

$

-

$

-

-

-

-

-

-

825,000

893,145

68,145

10,000

(36,357)

(46,357)

3,500

3,855

355

-

(2,315)

(2,315)

-

-

-

10,000

(38,672)

(48,672)

828,500

897,000

68,500

General Government: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

2,200

2,200

-

-

-

Capital outlay

Other services and charges

-

-

-

-

-

-

Debt service

-

-

-

-

-

-

2,200

2,200

-

-

-

-

Total General Government Public Safety: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Public Safety Parks and Recreation: Personal services

-

-

-

-

-

-

Material and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Parks and Recreation Health & Welfare: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

12,000

9,496

2,504 -

Other services and charges

-

-

-

660,110

660,110

Capital outlay

-

-

-

-

-

-

-

-

-

672,110

669,606

2,504

Total Health & Welfare Economic Development & Opp. Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Economic Development & Opp Street:

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

Personal services

-

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

Total Street Total Expenditures Revenues over (under) expenditures

$

-

-

-

-

-

-

-

-

-

2,200

2,200

-

672,110

669,606

2,504

7,800

$

(40,872)

$

(48,672)

$

156,390

$

227,394

$

71,004

Other financing sources (uses): Transfers from other funds

-

Transfers to other funds Revenues and other sources over (under) expenditures and other uses

(430,200)

$

7,294,697

-

(438,000)

(48,672)

7,724,897 $

7,246,025

-

-

(478,872)

7,724,897

Fund Balance-beginning of year Fund Balance -end of year

-

(438,000)

$

(48,672)

$

-

-

(31,207)

(31,207)

125,183

196,187

71,004

989,949

989,949

-

1,115,132

$

1,186,136

-

$

71,004 (continued)

114


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA VENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE-BUDGETARY BASIS BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS For the fiscal year ended June 30, 2021 CEMETERY PERPETUAL CARE

Budget

Variance Positive (Negative)

Actual

Revenues: Taxes

$

-

Intergovernmental Charges for services Investment income

$

Total Revenues

$

-

-

33,000

36,190

3,190

(1,309)

(1,609)

300

Miscellaneous

-

-

-

-

-

-

33,300

34,881

1,581

General Government: Personal services

-

-

-

Materials and supplies

500

-

500

Other services and charges

100

-

100

Capital outlay

-

-

-

Debt service

-

-

-

600

-

600

Personal services

-

-

-

Materials and supplies

-

-

-

Other services and charges

-

-

-

Capital outlay

-

-

-

-

-

-

Personal services

-

-

-

Material and supplies

-

-

-

Total General Government Public Safety:

Total Public Safety Parks and Recreation:

Other services and charges

-

-

Capital outlay

-

-

-

-

-

-

Personal services

-

-

-

Materials and supplies

-

-

-

Other services and charges

-

-

-

Capital outlay

-

-

-

-

-

-

Personal services

-

-

-

Materials and supplies

-

-

-

Other services and charges

-

-

-

Capital outlay

-

-

-

-

-

-

Total Parks and Recreation Health & Welfare:

Total Health & Welfare Economic Development & Opp.

Total Economic Development & Opp Street: Personal services

-

-

-

Materials and supplies

-

-

-

Other services and charges

-

-

-

Capital outlay

-

-

-

Total Street Total Expenditures Revenues over (under) expenditures

$

$

34,881

$

2,181

-

-

-

-

-

32,700

34,881

2,181

100,494

100,494

-

Revenues and other sources over (under) expenditures and other uses

$

600

-

Transfers to other funds

Fund Balance -end of year

-

32,700

Other financing sources (uses): Transfers from other funds

Fund Balance-beginning of year

600

133,194

$

135,375

$

2,181 (continued)

115


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE-BUDGETARY BASIS BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS For the fiscal year ended June 30, 2021 CAPITAL PROJECT FUNDS PARK SALES TAX FUNDS

CEMETERY CARE

Budget

Variance Positive (Negative)

Actual

Budget

Variance Positive (Negative)

Actual

Revenues: Taxes

$

Intergovernmental

-

$

-

$

-

$

2,363,142

$

2,543,858

$

180,716

-

-

-

-

-

-

21,675

22,619

944

-

-

-

500

2,477

1,977

10,000

10,108

-

-

-

105,266

103,777

22,175

25,096

2,921

2,478,408

2,657,743

179,335

Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

3,000

1,968

1,032

-

-

-

Charges for services Investment income Miscellaneous Total Revenues

108 (1,489)

General Government:

Other services and charges Capital outlay

-

-

-

-

-

Debt service

-

-

-

-

-

-

3,000

1,968

1,032

-

-

-

Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Total General Government Public Safety:

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Personal services

-

-

-

497,974

460,692

37,282

Material and supplies

-

-

-

56,043

55,936

107

Other services and charges

-

-

855,980

627,043

228,937

Capital outlay

-

-

-

2,026,393

570,474

1,455,919

-

-

-

3,436,390

1,714,145

1,722,245

Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

Total Public Safety Parks and Recreation:

Total Parks and Recreation Health & Welfare:

Total Health & Welfare Economic Development & Opp.

Total Economic Development & Opp Street:

Total Street Total Expenditures Revenues over (under) expenditures

$

-

-

-

-

-

-

3,000

1,968

1,032

3,436,390

1,714,145

1,722,245

19,175

$

23,128

$

3,953

$

(957,982)

$

943,598

$

1,901,580

Other financing sources (uses): Transfers from other funds

-

-

-

Transfers to other funds

-

-

-

(187,541)

19,175

23,128

3,953

(1,145,523)

169,444

169,444

-

Revenues and other sources over (under) expenditures and other uses Fund Balance-beginning of year Fund Balance -end of year

$

188,619

$

192,572

$

3,953

-

-

3,081,464 $

1,935,941

-

(175,732)

$

11,809

767,866

1,913,389

3,081,464

-

3,849,330

$

1,913,389 (continued)

116


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE-BUDGETARY BASIS BUDGET AND ACTUAL - NONMAJOR GOVERNEMNTAL FUNDS For the fiscal year ended June 30, 2021 CAPITAL PROJECT FUNDS ART IN PUBLIC PLACES FUND

Budget

CAPITAL IMPROVEMENT FUND Variance Positive (Negative)

Actual

Budget

Variance Positive (Negative)

Actual

Revenues: Taxes

$

Intergovernmental

-

$

-

Charges for services

-

Investment income

Total Revenues

$

-

$

-

-

1,000

Miscellaneous

-

-

(758)

-

$

108,500

-

$

-

-

-

(1,758)

5,000

763

254,500

225,854

(28,646)

-

-

255,500

225,096

(30,404)

113,500

763

(108,500) (4,237) (112,737)

General Government: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

100

39

61

Capital outlay

-

-

-

1,029,064

364,329

664,735

Debt service

-

-

-

-

-

-

-

-

-

1,029,164

364,368

664,796

Total General Government Public Safety: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Public Safety Parks and Recreation: Personal services

-

-

-

-

-

-

Material and supplies

-

-

-

-

-

-

Other services and charges Capital outlay Total Parks and Recreation

16,500

7,276

9,224

-

-

683,500

657,371

26,129

-

-

-

700,000

664,647

35,353

-

-

-

Health & Welfare: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Health & Welfare Economic Development & Opp. Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Economic Development & Opp Street: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

Total Street

-

-

-

-

-

-

700,000

664,647

35,353

1,029,164

364,368

664,796

Total Expenditures Revenues over (under) expenditures

$

(444,500)

$

(439,551)

$

4,949

$

(915,664)

$

(363,605)

$

552,059

Other financing sources (uses): Transfers from other funds

419,000

Transfers to other funds Revenues and other sources over (under) expenditures and other uses Fund Balance-beginning of year Fund Balance -end of year

$

455,808

36,808

675,000

675,000

-

-

-

-

-

(240,664)

311,395

552,059

224,781

224,781

-

(6,000)

(6,000)

(31,500)

10,257

41,757

96,794

96,794

-

65,294

$

107,051

117

$

41,757

$

(15,883)

$

536,176

$

552,059 (continued)


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE-BUDGETARY BASIS BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS For the fiscal year ended June 30, 2021 CAPITAL PROJECT FUNDS ROADWAY IMPROVEMENT FUND

Budget

1996 CIP TAX FUND

Variance Positive (Negative)

Actual

Budget

Variance Positive (Negative)

Actual

Revenues: Taxes

$

-

$

-

$

-

$

-

$

-

$

-

Intergovernmental

-

-

-

-

-

-

Charges for services

-

-

-

-

-

-

Investment income

-

12

12

-

66

66

Miscellaneous

-

-

-

-

-

-

-

12

12

-

66

66

Total Revenues General Government: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

5

5

-

Capital outlay

-

-

-

-

-

-

Debt service

-

-

-

-

-

-

-

-

-

5

5

-

Total General Government Public Safety: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Public Safety Parks and Recreation: Personal services

-

-

-

-

-

-

Material and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Parks and Recreation Health & Welfare: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Health & Welfare Economic Development & Opp. Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

-

-

-

-

-

-

Capital outlay

-

-

-

-

-

-

-

-

-

-

-

-

Total Economic Development & Opp Street: Personal services

-

-

-

-

-

-

Materials and supplies

-

-

-

-

-

-

Other services and charges

1

1

-

-

-

-

Capital outlay

-

-

-

-

-

-

Total Street Total Expenditures Revenues over (under) expenditures

$

1

1

-

-

-

-

1

1

-

5

5

-

(1)

$

11

$

12

$

(5)

$

61

$

66

Other financing sources (uses): Transfers from other funds

-

-

-

-

-

-

Transfers to other funds

-

-

-

-

-

-

11

12

61

66

11,773

-

64,125

-

Revenues and other sources over (under) expenditures and other uses

(1) 11,773

Fund Balance-beginning of year Fund Balance -end of year

$

11,772

$

11,784

$

12

(5) 64,125 $

64,120

$

64,186

$

66 (continued)

118


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE-BUDGETARY BASIS BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS For the fiscal year ended June 30, 2021 CAPITAL PROJECT FUNDS 2017 CAPITAL IMPROVEMENT TAX FUND

Budget

Variance Positive (Negative)

Actual

Revenues: Taxes

$

9,452,691

$

10,174,953

$

722,262

Intergovernmental

-

-

Charges for services

-

-

-

25,000

84,957

59,957

-

-

-

9,477,691

10,259,910

782,219

-

-

-

2,500

-

2,500

Investment income Miscellaneous Total Revenues

-

General Government: Personal services Materials and supplies Other services and charges Capital outlay Debt service Total General Government

2,500

1,499

1,001

3,734,282

3,181,739

552,543

-

-

-

3,739,282

3,183,238

556,044

Public Safety: Personal services

-

-

-

Materials and supplies

-

-

-

Other services and charges

-

-

-

1,032,369

376,984

655,385

1,032,369

376,984

655,385

Personal services

-

-

-

Material and supplies

-

-

-

Other services and charges

-

-

-

7,234,039

1,725,804

5,508,235

7,234,039

1,725,804

5,508,235

Personal services

-

-

-

Materials and supplies

-

-

-

Other services and charges

-

-

-

Capital outlay

-

-

-

-

-

-

-

Capital outlay Total Public Safety Parks and Recreation:

Capital outlay Total Parks and Recreation Health & Welfare:

Total Health & Welfare Economic Development & Opp. Personal services

-

-

Materials and supplies

-

-

-

Other services and charges

-

-

-

Capital outlay

-

-

-

-

-

-

Total Economic Development & Opp Street: Personal services

-

-

-

Materials and supplies

-

-

-

Other services and charges

-

-

-

Capital outlay

10,636,696

86,959

10,549,737

Total Street

10,636,696

86,959

10,549,737

22,642,386

5,372,985

17,269,401

Total Expenditures Revenues over (under) expenditures

$

(13,164,695)

$

4,886,925

$

18,051,620

Other financing sources (uses): Transfers from other funds

1,447,809

Transfers to other funds Revenues and other sources over (under) expenditures and other uses

15,322,855 $

3,397,154

967,207

(143,815)

(11,925,701)

Fund Balance-beginning of year Fund Balance -end of year

2,415,016

(208,815)

$

65,000

7,158,126

19,083,827

15,322,855

-

22,480,981

$

19,083,827 (continued)

119


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE-BUDGETARY BASIS BUDGET AND ACTUAL - MAJOR GOVERNMENTAL CAPITAL PROJECT FUND For the fiscal year ended June 30, 2021

Capital Project Funds 2000 Capital Im provement Tax Fund

Budget REVENUES Taxes Intergovernmental Investment income Miscellaneous Total revenues

$

Variance Positive (Negative)

Actual

14,180,249 200,000 60,000 14,440,249

$

15,263,151 212,087 408,383 15,883,621

$

1,082,902 12,087 348,383 1,443,372

EXPENDITURES General Government: Materials and supplies Other services and charges Capital outlay Debt service Total General Government

200 67,776 559,579 16,660,626 17,288,181

62,917 121,623 17,013,069 17,197,609

200 4,859 437,956 (352,443) 90,572

Parks and Recreation: Other services and charges Capital outlay Total Parks and Recreation

4,859 3,055,534 3,060,393

4,859 76,808 81,667

2,978,726 2,978,726

Economic Development & Opp: Capital outlay Total Economic Development & Opp

3,145,260 3,145,260

264,955 264,955

2,880,305 2,880,305

Community Development: Capital outlay Total Community Development

-

-

-

Street: Capital outlay

23,474,503

14,263,265

9,211,238

Total Street

23,474,503

14,263,265

9,211,238

46,968,337

31,807,496

15,160,841

(32,528,088)

(15,923,875)

16,604,213

(8,355,419)

5,610,032 (90,419)

8,265,000

(8,355,419)

5,519,613

13,875,032

(40,883,507)

(10,404,262)

30,479,245

24,480,768

24,480,768

Total Expenditures Revenues over (under) expenditures Other financing sources (uses): Proceeds from debt issuance Transfers to other funds Total of other financing resources

Revenues and other sources over (under) expenditures and other uses Fund Balance-beginning of year Fund Balance -end of year

$

120

(16,402,739)

$

14,076,506

$

30,479,245


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

NONMAJOR ENTERPRISE FUNDS The City operates eight enterprise funds under the legal entity of the Edmond Public Works Authority ("EPWA"), a public trust created under applicable Oklahoma statutes on October 6, 1970, with the City named as the beneficiary thereof. The Electric, Water and Wastewater enterprise funds are reported as Major funds. The remaining five enterprise funds are reported as nonmajor and include the following: SANITATION - Established to acquire and furnish sanitation services to the citizens, receive all revenues generated, pay debt service requirements on the debt issued related to the sanitation facility, pay all operating expenses, and finance future sanitation improvements. ARCADIA LAKE - Established to account for revenues and expenses related to the operations of the Arcadia Lake and Recreation Facility. DRAINAGE - Established to account for a fee assessed on each customer’s utility bill for construction and further improvements to the City’s drainage system. KICKINGBIRD GOLF COURSE - The Golf Course Fund accounts for the costs of operating and maintaining the City’s 18-hole municipal golf course. Revenues are generated through green fees, cart rentals, driving range fees and restaurant operations. YOURGOVSHOP - The YourGovShop Fund is a cooperative purchasing service, operated by the City, which provides its partners and members the lowest competitive prices for good and services, as well as a reduction in the administrative costs of purchasing. Financing is provided by revenues generated from rebates, membership fees and General Fund transfers. CityLink – The CityLink Fund is for the costs of operating and maintaining Edmond’s public transportation service through a reliable, affordable, customer-friendly transportation service to the residents of Edmond for access to employment, shopping, medical, education and social destinations. The General Fund along with sponsorship funds the operations of this service.

121


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

City of Edmond, Oklahoma Combining Statement of Net Position Nonmajor Enterprise Funds June 30, 2021 PWA Sanitation Fund ASSETS Current assets: Cash and cash equivalents Investments Restricted assets: Cash and cash equivalents Receivables: Accrued interest receivable Utility receivables, net of allowance for uncollectible accounts Due from other governments Other receivables Due from other funds Inventories Total current assets Non-current assets: Restricted assets: Cash and cash equivalents Capital Assets: Nondepreciable Depreciable, net of accumulated depreciation Total non-current assets Total assets

$

DEFERRED OUTFLOWS OF RESOURCES Deferred amount on refunding Deferred amounts related to pensions Deferred amounts related to OPEB Total deferred outflows of resources LIABILITIES Current liabilities: Accounts payable Accrued wages payable Accrued interest payable Due to other funds Unearned revenue Compensated absences Meter deposit liability Notes payable Revenue bonds payable Total current liabilities Non-current liabilities: Compensated absences Total OPEB liability Net pension liability Notes payable Revenue bonds payable, net Total non-current liabilities Total liabilities DEFERRED INFLOW OF RESOURCES Deferred amounts related to pensions Deferred amounts related to OPEB Deferred amount on refunding Total deferred inflows of resources NET POSITION Net investment in capital assets Restricted for debt service Restricted for scholarships Unrestricted (deficit) Total net position

$

1,566,263 10,527,756

PWA Arcadia Lake Fund

$

37,271

PWA Drainage Fund

Kickingbird Golf Course Fund

$

$

1,753,627 11,477,902

-

463,362

-

36,225 1,160,466 1,800 44,183 13,336,693

702 9,180 510,515

39,529 212,513 13,483,571

110,153 716,394

Yourgovshop Fund

$

98,451 2,467 2,114 (81) 21,781 951,279

CityLink

44,020 288,123

$

Total

52,206 341,700

$

3,526,269 23,389,146

-

-

561,813

992 54,644 387,779

1,177 323,485 718,568

81,092 1,372,979 325,599 56,363 53,363 21,781 29,388,405

4,087

258,578

-

82,863

-

-

345,528

297,869 301,956 13,638,649

495,278 2,705,957 3,459,813 3,970,328

996,872 6,979,331 7,976,203 21,459,774

541,171 863,039 1,487,073 2,438,352

387,779

718,568

2,033,321 10,846,196 13,225,045 42,613,450

246 475,437 44,011 519,694

15,546 166,733 15,858 198,137

149,427 19,045 168,472

4,982 239,529 21,674 266,185

11,487 592 12,079

19,356 3,073 22,429

20,774 1,061,969 104,253 1,186,996

710,397 79,503 491 7,708 22,580 3,132 823,811

1,859 45,767 22,168 115,877 3,955 500 228,006 418,132

36,976 21,249 656,287 3,792 718,304

56,778 54,262 7,104 8,356 6,550 73,066 206,116

1,746 415 2,161

32,946 2,432 127 35,505

838,956 204,959 29,763 664,643 115,877 22,547 500 22,580 304,204 2,204,029

69,371 229,146 1,110,694 37,958 11,719 1,458,888 2,282,699

35,595 82,094 373,781 711,725 1,203,195 1,621,327

34,127 61,571 348,278 443,976 1,162,280

58,950 112,880 552,555 228,077 952,462 1,158,578

3,739 3,079 27,180 33,998 36,159

1,145 4,105 30,474 35,724 71,229

202,927 492,875 2,442,962 37,958 951,521 4,128,243 6,332,272

73,192 19,729 3,892 96,813

28,429 6,942 35,371

15,276 5,027 20,303

48,811 9,568 58,379

1,493 315 1,808

10,593 3,050 13,643

177,794 44,631 3,892 226,317

218,834 11,559,997 11,778,831

2,277,050 729,748 (495,031) 2,511,767

7,976,203 12,469,460 20,445,663

1,108,049 182,997 1,601 194,933 1,487,580

361,891 361,891

656,125 656,125

11,580,136 912,745 1,601 24,747,375 37,241,857

$

$

122

$

$

$

$


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

City of Edmond, Oklahoma Combining Statement of Revenues, Expenses and Changes in Fund Net Position Nonmajor Enterprise Funds For the Year Ended June 30, 2021 PWA Sanitation Fund REVENUES Charges for services Operating grants and contributions Miscellaneous Total operating revenues

$

OPERATING EXPENSES Personal services Materials and supplies Maintenance, operations and contractual services Depreciation Total Operating Expenses Operating income (loss)

$

1,680,710 368,658 7,474,987 14,764 9,539,119 1,326,278

NON-OPERATING REVENUES (EXPENSES) Interest and investment revenue Miscellaneous revenue Gain (loss) on capital asset disposal Interest expense Total non-operating revenue (expenses)

39,328 (1,235) 38,093

Income (loss) before transfers

1,364,371

Transfers in Transfers out Change in net position

30 (376,450) 987,951

Total net position - beginning Total net position - ending

10,865,397 10,865,397

PWA Arcadia Lake Fund

10,790,880 $

11,778,831

1,404,910 2,901 1,338 1,409,149

PWA Drainage Fund

Kickingbird Golf Course Fund

$

$

2,211,116 126,043 2,337,159

$

$

12,000 1,412,172 1,424,172

(301,082)

1,020,833

191,038

(29,149)

(601,653)

1,644,358

248,478 (52,604)

1,020,833

100,000 291,038

(29,149)

400,000 (201,653)

748,508 (376,450) 2,016,416

19,424,830

1,196,542

391,040

857,778

20,445,663

123

$

1,487,580

$

922 922

(1,068) (1,068)

16,421,985 1,415,073 205,193 18,042,251

35,737 78 35,815

$

46,483 108,945 1,869,329 2,024,757 (600,585)

$

1,263 (21,851) (20,588)

4,093 2,000 (8,075) (5,482) (7,464)

37,079 70,804 107,883 (30,071)

Total

508,298 231,806 139,219 64,221 943,544 985,018

2,511,767

1,113,999 449,264 536,139 39,255 2,138,657 198,502

77,812 77,812

CityLink

757,565 103,370 635,736 192,972 1,689,643 (280,494)

2,564,371 $

1,928,562 1,928,562

Yourgovshop Fund

361,891

$

656,125

4,144,134 1,262,043 10,726,214 311,212 16,443,603 1,598,648

80,275 2,078 (8,075) (28,568) 45,710

35,225,441 $

37,241,857


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

City of Edmond, Oklahoma Combining Statement of Cash Flows Nonmajor Enterprise Funds For the Year Ended June 30, 2021 PWA Sanitation Fund CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers Payments to suppliers Payments to employees Interfund payments Interfund receipts Net cash provided by (used in) operating activities

$

10,895,280 (7,628,712) (1,568,047) (3,563) 1,694,958

PWA Arcadia Lake Fund $

1,453,777 (753,461) (713,590) (13,274)

PWA Drainage Fund

Kickingbird Golf Course Fund

$

$

1,932,971 (334,049) (455,967) 68,431 1,211,386

2,339,920 (936,102) (1,053,093) 350,725

Yourgovshop Fund $

CityLink

102,788 (70,804) (33,841) (1,857)

$

Total

1,332,311 (2,075,525) (43,149) (786,363)

$

18,057,047 (11,798,653) (3,867,687) (3,563) 68,431 2,455,575

CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers from other funds Transfer to other funds Net cash provided by (used in) noncapital financing activities

30 (376,450) (376,420)

248,478 248,478

-

100,000 100,000

-

400,000 400,000

748,508 (376,450) 372,058

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase of capital assets Proceeds from issuance of debt Transfer to escrow agent for refunding Principal paid on capital debt Interest paid on capital debt Net cash provided by (used in) capital and related financing activities

60,538 (118,526) (32,058) (9,310) (99,356)

(189,074) (35,559) (224,633)

(275,619) (275,619)

(48,960) (60,590) (9,876) (119,426)

-

-

-

-

(324,579) 60,538 (118,526) (281,722) (54,745) (719,034)

(2,389,132) 178,624 (2,210,508)

(6,447) 1,779 (4,668)

(2,250,961) 193,667 (2,057,294)

(342,441) 10,424 (332,017)

(33,078) 862 (32,216)

246,616 9,032 255,648

(5,022,059) 246,616 394,388 (4,381,055)

5,903

(1,121,527)

(718)

(34,073)

(130,715)

(2,272,456)

78,093

182,921

6,706,066

CASH FLOWS FROM INVESTING ACTIVITIES Purchases of investments Sale of investments Interest and dividends Net cash provided by (used in) investing activities Net increase (decrease) in cash and cash equivalents

(991,326)

Balances-beginning of year Balances-end of year

Reconciliation to Combining Statement of Net Position: Cash and cash equivalents Restricted cash and cash equivalents Restricted cash and cash equivalents, non-current Total cash and cash equivalents, end of year

2,561,676

716,037

2,875,154

292,185

$

1,570,350

$

721,940

$

1,753,627

$

291,467

$

44,020

$

52,206

$

4,433,610

$

1,566,263 4,087 1,570,350

$

463,362 258,578 721,940

$

1,753,627 1,753,627

$

110,153 98,451 82,863 291,467

$

$

$

52,206 52,206

$

$

44,020 44,020

$

3,526,269 561,813 345,528 4,433,610

$

(30,071)

$

(600,585)

$

1,598,648

$

$

$

$

Reconciliation of Operating Income (Loss) to Net Cash Provided by (used in) Operating Activities: Operating income (loss) Adjustments to reconcile operating income (loss) to net cash provided by (used in) operating activities: Depreciation expense Miscellaneous non-operating revenue (expense) Change in assets and liabilities: Receivables, net Other receivable Inventories Due from other governments Due from other funds Deferred outflows related to pension Deferred outflows related to OPEB Accounts and other payables

$

1,326,278

$

(280,494)

$

985,018

$

198,502

14,764 -

192,972 -

64,221 78

39,255 2,000

-

-

311,212 2,078

28,983 900 (3,563) (111,738) (23,447) 222,019

(33,991) (8,384) (17,308)

4,331 (37,178) (14,435) 39,904

81 60,652 680 (53,943) (11,551) (17,325)

24,976 (2,847) (314) 127

(91,861) 1,306 (5) (96,895)

(33,571) 981 60,652 680 (3,563) (238,391) (58,136) 130,522

$

44,628 13,377 57,641 16,162 (389) 2,512 (13,274)

18,394 93,833 14,201 (540) 6,486 350,725

$

502 4,732 894 (24) 168 (1,857)

$

669 (6,291) 7,203 (429) 525 (786,363)

68,431 44,628 88,905 403,070 83,875 (2,324) (2,122) 2,455,575

$ $

1,100 1,100

$ $

-

$ $

Due to other funds Unearned revenue Total OPEB liability Net Pension liability Deferred inflows related to pension Deferred inflows related to OPEB Accrued compensated absences Net cash provided by (used in) operating activities

$

37,340 186,646 38,025 (1,152) (20,097) 1,694,958

Non-cash Activities: Change in fair value of investments Total Non-cash Activities

$ $

145,252 145,252

124

$

68,431 18,623 66,509 7,390 210 8,284 1,211,386

$

$ $

163,139 163,139

$ $

7,415 7,415

9,093 9,093

$ $

325,999 325,999


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2020

INTERNAL SERVICE FUNDS The Internal Service Funds are used to account for the financing of administrative services provided by one department or function to other departments or functions of the City on a cost reimbursement basis. EMPLOYEE GROUP INSURANCE FUND - The Employee Group Insurance Fund has been established to account for the direct and indirect costs of administering a self-funded group health insurance plan. Financing is provided by the City, the Edmond Public Works Authority, City employees, and interest earnings on fund investments. Costs associated with the plan include the payment of employee and dependent health and dental claims, third party administrative costs, insurance premium payments for catastrophic claims, fully insured life, accidental death and dismemberment, and long term disability insurance. LIABILITY/TORT CLAIM FUND - The Liability/Tort Claim Fund has been established to account for direct and indirect costs for the payment of judgments and settled claims relating to torts and worker’s compensation. Financing is provided through billings to user departments. VEHICLE MAINTENANCE FUND - The Vehicle Maintenance Fund has been established to account for expenditures necessary to maintain City vehicles. Financing is provided through billings to user departments. FLEET MANAGEMENT FUND - The Fleet Management Fund has been established to accumulate resources for the replacement of vehicles and other equipment on a systematic basis. Financing is provided by fleet lease assessments to the General Fund, Park Sales Tax Fund, Administrative Support Services Fund, Edmond Public Works Authority, Fire Public Safety Limited Tax Fund and the Police Public Safety Limited Tax Fund. FIELD SERVICES FUND – The Field Services Fund has been established to provide street maintenance, water/wastewater line maintenance and traffic control systems maintenance. Financing is provided by the General Fund, Water and Wastewater Fund based upon applicable cost accounting methods. ADMINISTRATIVE SUPPORT SERVICES FUND - The Administrative Support Services Fund has been established to account for and allocate administrative overhead costs to user departments of the City. Financing is provided through billings to user departments based upon applicable cost accounting methods.

125


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2020

City of Edmond, Oklahoma Combining Statement of Net Position Internal Service Funds June 30, 2021

Group Insurance Fund ASSETS Current assets: Cash and cash equivalents Investments Receivables: Accrued interest Due from other governments Other receivables Inventories Total current assets Non-current assets: Restricted assets: Cash and cash equivalents Investments Capital Assets: Nondepreciable Depreciable, net of accumulated depreciation Total non-current assets Total assets

$

DEFERRED OUTFLOWS OF RESOURCES Deferred amounts related to pensions Deferred amounts related to OPEB Total deferred outflow of resources LIABILITIES Current Liabilities: Accounts payable Salaries payable Compensated absences Claims and judgments Total current liabilities Non-current liabilities: Compensated absences Total OPEB liability Net pension liability Claims and judgments Total non-current liabilities Total liabilities DEFERRED INFLOW OF RESOURCES Deferred amounts related to pensions Deferred amounts related to OPEB Total deferred inflow of resources NET POSITION Net investment in capital assets Restricted for other purposes Unrestricted (deficit) Total Net Position

$

536,555 3,511,880

Vehicle Maintenance Fund

$

Fleet Management Fund

Liability/Tort Claim Fund

10,778 70,547

$

475,731 2,131,983

$

2,208,405 14,454,526

Field Services Fund

Administrative Support Services Fund

$

$

762,738 4,992,295

700,629 4,571,417

Total

$

4,694,836 29,732,648

12,094 80,281 4,140,810

243 246,098 121,722 449,388

12,707 2,620,421

49,779 16,712,710

17,193 189,440 997,605 6,959,271

15,743 78,357 5,366,146

107,759 189,440 326,379 1,197,684 36,248,746

-

-

237,964 1,557,529

-

-

-

237,964 1,557,529

4,140,810

449,388

1,795,493 4,415,914

19,560,082 19,560,082 36,272,792

6,959,271

797,315 2,753,953 3,551,268 8,917,414

797,315 22,314,035 24,906,843 61,155,589

-

322,390 24,066 346,456

97,597 5,913 103,510

23,416 1,101 24,517

2,338,683 284,214 2,622,897

4,317,734 335,070 4,652,804

7,099,820 650,364 7,750,184

240,877 543,224 784,101

83,670 54,185 8,366 146,221

88,842 17,290 2,406 788,000 896,538

603,488 3,854 731 608,073

143,047 331,466 37,787 512,300

706,056 771,706 87,853 1,565,615

1,865,980 1,178,501 137,143 1,331,224 4,512,848

181,076 181,076 965,177

75,679 124,989 750,664 951,332 1,097,553

21,148 30,785 225,215 1,230,000 1,507,148 2,403,686

6,554 5,028 54,987 66,569 674,642

340,082 872,252 4,602,407 5,814,741 6,327,041

790,792 1,651,634 9,893,332 12,335,758 13,901,373

1,234,255 2,684,688 15,526,605 1,411,076 20,856,624 25,369,472

-

35,957 10,565 46,522

9,763 2,723 12,486

2,863 431 3,294

227,470 69,256 296,726

793,490 262,497 1,055,987

1,069,543 345,472 1,415,015

1,995,784 107,468 2,103,252

19,560,802 16,058,571 35,619,373

2,958,401 2,958,401

3,551,268 (4,938,410) (1,387,142)

23,112,070 1,995,784 17,013,432 42,121,286

3,175,633 3,175,633

$

(348,231) (348,231)

$

126

$

$

$

$


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2020

City of Edmond, Oklahoma Combining Statement of Revenues, Expenses and Changes in Fund Net Position Internal Service Funds For the Year Ended June 30, 2021

Group Insurance Fund OPERATING REVENUES Charges for services Operating grants and contributions Miscellaneous Total operating revenues

$

OPERATING EXPENSES Personal services Materials and supplies Other services and charges Insurance premium expense Claims expense Depreciation Total operating expenses Operating income (loss) NON-OPERATING REVENUES (EXPENSES) Interest and investment revenue Gain on sale of capital assets Miscellaneous revenue Total non-operating revenue (expenses) Change in net position Total net position - beginning Total net position - ending

$

12,464,286 24,000 12,488,286

Vehicle Maintenance Fund $

3,122,428 3,122,428

Liability/Tort Claim Fund $

1,672,138 2,976 253,524 1,928,638

Fleet Management Fund $

6,246,575 6,246,575

Field Services Fund

Administrative Support Services Fund

$

$

24,086,174 6,554 1,500 24,094,228

24,822,126 893,973 25,716,099

Total $

72,413,727 927,503 255,024 73,596,254

668 1,389,888 1,106,387 9,645,375 12,142,318 345,968

1,124,714 1,573,570 581,563 3,279,847 (157,419)

353,106 10,545 335,685 879,538 871,544 2,450,418 (521,780)

80,014 183,274 2,319,531 2,582,819 3,663,756

7,146,451 1,139,105 15,478,352 23,763,908 330,320

14,865,448 758,297 10,771,421 400,485 26,795,651 (1,079,552)

23,569,733 3,482,185 28,740,183 1,985,925 10,516,919 2,720,016 71,014,961 2,581,293

10,366 10,366 356,334

222 8,652 8,874 (148,545)

3,011 3,011 (518,769)

76,585 (53,953) 35,880 58,512 3,722,268

36,638 36,638 366,958

2,314 (8,571) 126,195 119,938 (959,614)

129,136 (62,524) 170,727 237,339 2,818,632

2,819,299

(199,686)

31,897,105

2,591,443

(427,528)

39,302,654

3,175,633

$

(348,231)

2,622,021 $

127

2,103,252

$

35,619,373

$

2,958,401

$

(1,387,142)

$

42,121,286


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2020

City of Edmond, Oklahoma Combining Statement of Cash Flows Internal Service Funds For the Year Ended June 30, 2021

Group Insurance Fund CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers Payments to suppliers Payments to employees Claims and judgments paid Net cash provided by (used in) operating activities

$

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase of capital assets Proceeds from sale of capital assets Net cash provided by (used in) capital and related financing activities

Net increase in cash and cash equivalents Balances-beginning of year

Reconciliation to Combining Statement of Net Position: Cash and cash equivalents Cash and cash equivalents, non-restricted Total cash and cash equivalents, end of year

$

$

1,943,260 (1,202,712) (322,218) (1,154,544) (736,214)

$

6,282,455 321,536 (72,291) 6,531,700

-

-

(2,688,262) 149,630 (2,538,632)

(827,158) 56,305 (770,853)

36,507 2,059 38,566

74,293 57,019 131,312

(4,978,687) 238,573 (4,740,114)

(300,192)

(22,516)

836,747

33,294

(604,902)

Field Services Fund

Administrative Support Services Fund

$

$

-

(1,774,366) 91,643 (1,682,723)

(747,046)

1,318,597

24,382,239 (16,525,936) (6,414,579) 1,441,724

(240,999)

2,955,451

1,003,737

25,928,460 (11,305,877) (13,652,285) 970,298

Total $

74,138,540 (33,351,796) (21,480,561) (10,689,096) 8,617,087

(270,425) (270,425)

(2,958,687) 149,630 (2,809,057)

(1,133,987) 61,126 (1,072,861)

(1,774,366) (6,829,032) 506,725 (8,096,673)

(372,988)

(2,288,643)

1,073,617

7,221,443

$

536,555

$

10,778

$

713,695

$

2,208,405

$

762,738

$

700,629

$

4,932,800

$

536,555 536,555

$

10,778 10,778

$

$

$

700,629 700,629

$

$

762,738 762,738

$

$

2,208,405 2,208,405

$

$

475,731 237,964 713,695

$

4,694,836 237,964 4,932,800

(157,419)

$

(521,780)

$

3,663,756

$

330,320

$

(1,079,552)

$

2,581,293

$

$

Reconciliation of Operating Income (Loss) to Net Cash Provided by (used in) Operating Activities: Operating income (loss) $ 345,968 $ Adjustments to reconcile operating income (loss) to net cash provided by (used in) operating activities: Depreciation expense Miscellaneous non-operating revenue Change in assets and liabilities: Other receivable Inventories Due from other governments Deferred outflows related to pension Deferred outflows related to OPEB Accounts and other payables 13,870 Claims liability 110,823 Total OPEB liability Net Pension liability Deferred inflows related to pension Deferred inflows related to OPEB Accrued compensated absences $ 470,661 $ Net cash provided by (used in) operating activities Non-cash Activities: Change in fair value of investments Total Non-cash Activities

Fleet Management Fund

Liability/Tort Claim Fund

3,113,840 (2,155,734) (1,019,188) (61,082)

-

CASH FLOWS FROM INVESTING ACTIVITIES Purchases of investments Sale of investments Interest and dividends Net cash provided by (used in) investing activities

Balances-end of year

12,488,286 (2,483,073) (9,534,552) 470,661

Vehicle Maintenance Fund

$ $

48,045 48,045

$ $

8,652 (26,771) (8,251) 9,531 (77,617) (12,978) 12,636 20,368 138,599 18,962 (594) 13,800 (61,082)

1,683 1,683

128

-

$

14,622 (23,603) (3,149) 25,121 (283,000) 5,016 42,813 (168) 4,438 3,476 (736,214)

$ $

52,765 52,765

2,319,531 35,880

-

$

(5,675) (491) 505,077 819 9,589 1,829 (24) 1,409 6,531,700

$

$ $

176,488 176,488

$ $

90,490 16,954 197,521 (1,150,517) (220,704) 107,594 279,569 1,554,457 145,618 5,721 84,701 1,441,724

60,216 60,216

$

$ $

400,485 126,195

2,720,016 170,727

(5,705) 86,166 (882,279) (158,820) 348,667 148,883 1,280,255 600,624 88,169 17,210 970,298

63,719 2,998 307,840 (2,139,691) (396,142) 1,012,965 (172,177) 454,655 3,025,713 766,865 97,710 120,596 8,617,087

61,766 61,766

$

$ $

400,963 400,963


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

REVENUE BOND/NOTE COVENANT SCHEDULES The revenue bond and note agreements and indentures contain certain financial related covenants dealing with minimum requirements for net pledged revenue and minimum reserve account balance requirements. The following schedules are presented to indicate the level of compliance by the City or its public trusts with these covenants. Schedule of Revenue Bond/Note Debt Service Coverage This schedule compares the net revenues generated from revenues sources pledged for the payment of principal and interest of revenue bond and notes to the maximum annual debt service requirements on the debt. Schedule of Reserve Account Balances This schedule compares the amount of assets held in trust as reserve accounts related to revenue bonds and notes to the required balances to be maintained in these accounts as required by the debt covenants.

129


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA SCHEDULE OF REVENUE BOND/NOTE DEBT SERVICE COVERAGE For the fiscal year ended June 30, 2021 Sales Tax and Utility Revenue Bonds Series 2013 2014B, and 2021

OWRB/Bank of America Notes Payable Series 2013 and 2021 General Sales Revenue Note GROSS REVENUES OF THE SYSTEM: Charges for services Investment income Miscellaneous income

$

Total Gross Revenues of the System

159,853,296 1,037,966 373,433

$

159,853,296 1,037,966 373,433

Utility Revenue Bonds Series 2015, 2016 2017 and 2021

$

159,853,296 1,037,966 373,433

161,264,695

161,264,695

161,264,695

12,074,073 3,158,063 94,582,187 -

12,074,073 3,158,063 94,582,187 11,500,477

12,074,073 3,158,063 94,582,187 -

109,814,323

121,314,800

109,814,323

Total Gross Revenues of the System in Excess of Total Operation and Maintenance Expenses

51,450,372

39,949,895

51,450,372

Add: Pledged sales tax revenue

40,309,667

15,115,945

15,115,945

OPERATION AND MAINTENANCE EXPENSES: Personal services Materials and supplies Maintenance, operations and contractual services Debt service on prior lien utility system revenue bonds Total Operation and Maintenance Expenses

Net Revenues of the System plus pledged sales tax revenue

$

91,760,039

$

55,065,840

$

66,566,317

Maximum Debt Service Requirements on Liabilities

$

5,464,966

$

7,816,791

$

21,983,267

Computed Coverage Coverage Requirement

1679%

704%

303%

125%

125%

125%

NOTE: Revenues and expenses include only amounts related to the electric, water, wastewater, and sanitation funds. Operating expenses exclude depreciation, amortization and other non-cash items, in accordance with the terms of the applicable bond indentures. Maximum Debt Service Requirements on Liabilities is based on the following: Sales Tax and Utility System Revenue Bonds total debt service for the 2013 2014B and 2021 series bonds in fiscal year 2022. Utility System Revenue Bonds total debt service for the 2015, 2016, and 2017, series bonds and OWRB notes payable in fiscal year 2024.

130


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

RESERVE BALANCE JUNE 30, 2021

REQUIRED RESERVES Required Balance: Series 2010 Sales Tax and Utility Revenue Bonds Series 2013 Sales Tax and Utility Revenue Bonds Series 2014B Sales Tax and Utility Revenue Bonds Series 2015 Utility Revenue Bonds Series 2016 Sales Tax and Utility Revenue Bonds Series 2017 Sales Tax and Utility Revenue Bonds

$

1,390,000 1,434,939 2,245,000 2,269,935 2,360,100 10,094,500

131

$

1,421,583 1,435,119 2,322,263 2,270,221 2,360,397 10,095,770

EXCESS BALANCE OVER REQUIRED RESERVES

$

31,583 180 77,263 286 297 1,270


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

DISCRETELY PRESENTED COMPONENT UNIT Additional information for the discretely presented component unit referred to in the notes to the financial statements is provided. HISTORIC PRESERVATION TRUST Created November 15, 1982 to preserve the qualities relating to the history of the City in order to promote the economic and general welfare of the people of the City of Edmond and to ensure the harmonious, orderly and efficient growth and development of the municipality. The EHPT governing body is appointed by the current City Council. The City is able to impose its will on the EHPT because, pursuant to state law, all issuance of EHPT debt requires a two-thirds approval of the City Council. The EHPT component unit does not issue separate financial statements.

132


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA BALANCE SHEET DISCRETELY PRESENTED COMPONENT UNIT June 30, 2021 HISTORIC PRESERVATION TRUST ASSETS Cash and cash equivalents

$

40,278

$

40,278

Unassigned

$

40,278

Total liabilities and fund balances

$

40,278

$

40,278

Total assets LIABILITIES AND FUND BALANCES Fund Balances:

Reconciliation to Statement of Net Position: Fund balance Amounts reported for the discretely presented component unit in the statement of net position are different because: Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. Net position of component unit

117,617 $

133

157,895


CITY OF EDMOND, OKLAHOMA OTHER SUPPLEMENTARY INFORMATION June 30, 2021

CITY OF EDMOND, OKLAHOMA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE DISCRETELY PRESENTED COMPONENT UNIT FOR THE FISCAL YEAR ENDED June 30, 2020 HISTORIC PRESERVATION TRUST Revenues: Investment income

$

Miscellaneous

27 2,468

Total Revenues

2,495

Expenditures: Current: Culture, parks and recreation Total Expenditures

34,205 34,205

Revenues over (under) expenditures

(31,710)

Other financing sources: Payment from the City of Edmond

22,917

Net change in fund balance

(8,793)

Fund balances - beginning Fund balances - ending

$

49,071 40,278

$

(8,793)

Reconciliation to Statement of Activities: Net Change in fund balance

Amounts reported for the discretely presented component unit in the Statement of Activities are difference because: Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense to allocate those expenditures over the life of the assets: Depreciation expense

(2,006)

Capital asset purchases capitalized

-

Change in net position - component unit

$

134

(10,799)


STATISTICAL SECTION



STATISTICAL SECTION This part of the City of Edmond’s comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the city’s overall financial health Such statistical information includes: FINANCIAL TRENDS – These schedules contain trend information to help the reader understand how the city’s financial performance and well-being have changed over time REVENUE CAPACITY – These schedules contain information to help the reader assess the city’s most significant local revenue sources, gas and sales tax revenues. DEBT CAPACITY –These schedules present information to help the reader assess the affordability of the city’s current levels of outstanding debt and the city’s ability to issue additional debt in the future. DEMOGRAPHIC AND ECONOMIC INFORMATION – These schedules offer demographic and economic indicators to help the reader understand the environment within which the city’s financial activities take place OPERATING INFORMATION – These schedules contain service and infrastructure data to help the reader understand how the information in the city’s financial report relates to the services the city provides and the activities it performs.

135


CITY OF EDMOND, OKLAHOMA NET POSITION BY COMPONENT Last Ten Fiscal Years TABLE 1

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

$ 165,301,769

$ 179,081,790

$ 200,795,158

$ 250,995,878

$ 255,086,502

65,438,617

77,480,959

74,547,850

72,918,625

62,143,563

297,762,184

$ 286,812,679

$ 302,958,928

52,414,977

64,158,270

54,829,829

72,384,371

17,858,558

17,186,870

19,574,722

(52,758,763)

(30,213,326)

85,557,285

(45,256,242)

(29,282,105)

(17,829,598)

(17,966,287)

(46,441,931)

$ 248,598,944

$ 273,749,619

$ 294,917,730

$ 271,155,740

$ 287,016,739

$

304,920,919

$ 321,688,844

$ 339,959,159

$

367,967,143

$ 374,465,416

$ 139,272,090

$ 152,656,891

$ 166,264,500

$ 178,128,755

$ 186,486,477

$

200,607,566

$ 212,908,949

$ 230,309,413

$

236,841,065

$ 262,729,475

12,737,861

13,161,823

12,665,793

10,164,237

11,122,065

12,555,515

23,678,437

23,727,004

24,018,937

22,181,357

62,638,338

63,641,836

65,352,440

85,095,133

115,979,906

137,187,395

147,188,629

161,440,516

187,930,380

194,334,919

$ 214,648,289

$ 229,460,550

$ 244,282,733

$ 273,388,125

$ 313,588,448

$

350,350,476

$ 383,776,015

$ 415,476,933

$

448,790,382

$ 479,245,751

$ 304,573,859

$ 331,738,681

$ 367,059,658

$ 429,124,633

$ 441,572,979

$

498,369,750

$ 499,721,628

$ 533,268,341

$

550,390,124

$ 598,079,537

78,176,478

90,642,782

87,213,643

83,082,862

73,265,628

64,970,492

87,836,707

78,556,833

96,403,308

107,738,642

80,496,896

80,828,706

84,927,162

32,336,370

85,766,580

91,931,153

117,906,524

143,610,918

169,964,093

147,892,988

$ 463,247,233

$ 503,210,169

$ 539,200,463

$ 544,543,865

$ 600,605,187

655,271,395

$ 705,464,859

$ 755,436,092

816,757,525

$ 853,711,167

Governmental activities Net investment in capital assets Restricted Unrestricted Total governmental activities net assets

$

$

313,549,059

$ 335,350,062

Business-type activities Net investment in capital assets Restricted Unrestricted Total business-type activities net assets

Primary government Net investment in capital assets Restricted Unrestricted Total primary government net assets

136

$

$


CITY OF EDMOND, OKLAHOMA CHANGES IN NET POSITION Last Ten Fiscal Years TABLE 2

2012 Expenses Government activities: General government Public safety Streets and highways Cultural, parks and recreation Health and welfare Economic development Interest on long-term debt Total governmental activities expenses Business-type activities: Electric operations Water operations Wastewater operations Sanitation operations Lake operations Drainage operations Golf course operations Cooperative purchasing services Transportation operations Economic development (payment to EEDA) Total business-type activities expenses Total primary government expenses Program Revenues Government activities: Charges for services: General government Public Safety Streets and highways Cultural, parks and recreation Health and welfare Operating grants and contributions Capital grants and contributions Total governmental activities program revenues

$

7,354,958 38,482,564 10,413,380 5,163,602 3,154,842 107,884 2,825,422 67,502,652

2013

$

7,931,878 41,599,381 10,787,542 4,742,925 3,173,294 72,066 2,478,720 70,785,806

2014

$

6,356,170 43,468,774 12,768,311 5,986,917 1,629,424 603,679 2,316,938 73,130,213

2015

$

6,284,407 43,371,086 13,111,395 8,532,349 1,510,407 644,296 1,527,392 74,981,332

2016

$

9,167,431 47,309,195 15,151,636 7,067,735 1,639,425 576,728 1,828,757 82,740,907

2017

$

8,005,753 52,798,820 15,148,413 8,080,826 1,681,699 1,669,226 87,384,737

2018

$

6,888,698 52,589,259 16,312,414 7,861,311 1,915,800 1,261,914 86,829,396

2019

$

2020

2021

8,172,549 49,828,001 16,597,738 14,772,879 1,617,932 1,160,057 92,149,156

$ 12,991,002 58,007,128 17,457,954 8,050,323 1,637,687 913,814 99,057,908

$ 12,296,879 66,034,587 30,424,648 8,001,352 1,692,397 498,068 118,947,931

68,889,466 16,769,702 5,719,033 6,953,312 1,271,935 1,020,667 1,907,157 64,757 440,000 103,036,029 $ 170,538,681

72,308,154 16,804,561 6,495,234 6,797,466 1,289,412 887,642 1,928,258 62,844 470,000 107,043,571 $ 177,829,377

74,045,803 19,668,782 6,766,403 7,101,930 1,332,453 827,838 1,970,350 62,210 1,568,426 113,344,195 $ 186,474,408

75,458,152 19,838,405 7,138,969 6,876,040 1,351,272 916,310 2,079,169 63,641 1,594,042 115,316,000 $ 190,297,332

75,312,602 17,495,184 7,224,538 7,052,119 1,364,701 903,578 2,318,656 50,083 1,296,604 113,018,065 $ 195,758,972

80,292,128 18,724,132 9,664,933 7,157,872 1,453,667 1,034,170 2,201,686 50,897 1,692,550 122,272,035 $ 209,656,772

83,960,339 19,607,242 15,607,025 7,046,014 1,469,855 880,609 2,070,410 74,898 1,391,561 132,107,953 $ 218,937,349

82,237,525 20,437,191 16,641,334 7,869,423 1,516,853 875,983 1,988,581 52,254 1,859,743 133,478,887 $ 225,628,043

77,298,321 21,231,254 17,041,462 8,288,157 1,629,078 867,583 2,057,579 54,043 2,045,885 130,513,362 $ 229,571,270

82,220,622 22,436,008 19,390,094 8,644,569 1,711,494 943,544 2,152,214 107,883 2,024,757 139,631,185 $ 258,579,116

$

$

$

$

$

$

$

$

$

$

7,353,230 1,220,778 84,870 528,606 1,140,753 5,475,330 5,232,894 21,036,461

7,421,872 1,246,610 11,670 536,743 1,135,962 5,682,716 10,668,747 26,704,320

7,934,422 1,267,798 10,200 518,039 931,947 5,498,584 7,002,940 23,163,930

7,945,577 1,213,991 101,877 410,001 916,854 5,867,612 10,227,919 26,683,831

7,259,773 1,188,473 23,422 161,863 869,997 6,040,401 10,189,610 25,733,539

9,352,670 1,115,725 13,140 127,378 859,838 6,552,097 10,309,777 28,330,625

7,828,234 1,384,049 11,010 149,433 861,021 5,965,300 8,034,550 24,233,597

8,543,748 1,262,975 251,746 140,669 871,623 7,143,120 4,333,470 22,547,351

8,240,851 1,370,013 10,350 112,864 883,108 13,179,067 2,830,664 26,626,917

7,425,298 1,312,023 10,897 100,800 893,145 8,094,077 7,225,903 25,062,143

(Continued)

137


CITY OF EDMOND, OKLAHOMA TABLE 2 (Continued)

2012 Business-type activities: Charges for services: Electric operations Water operations Wastewater operations Sanitation operations Lake operations Drainage operations Golf course operations Cooperative purchasing service Transportation operationsⁱ Operating grants and contributions Capital grants and contributions Total business-type activities program revenues Total primary government program revenues

$

2013

$

2014

$

2015

$

2016

$

2017

$

2018

$

2019

2020

2021

$ 92,536,791 33,456,401 23,181,608 10,865,397 1,405,474 1,928,640 2,337,159 77,812 12,000

71,935,412 22,701,466 8,554,554 7,577,025 880,719 1,758,988 1,997,414 80,190 72,975 1,665,577 117,224,320 $ 138,260,781

70,744,562 22,891,181 9,923,751 7,813,513 846,471 1,684,899 2,012,055 82,326 921,297 6,989,454 123,909,509 $ 150,613,829

76,674,353 22,931,346 11,423,965 8,065,999 963,845 1,703,753 1,997,086 74,389 290,470 328,568 4,189,645 128,643,419 $ 151,807,349

87,756,233 22,666,769 12,531,903 8,955,701 942,661 1,769,513 2,024,187 89,516 226,136 258,503 8,610,407 145,831,529 $ 172,515,360

91,957,403 25,066,076 13,377,584 9,128,560 1,078,431 1,876,533 2,018,439 63,524 262,869 308,943 6,492,648 151,631,010 $ 177,364,549

96,627,510 28,766,025 15,752,873 9,199,752 1,108,201 1,791,313 1,988,412 91,286 282,098 1,167,903 4,640,646 161,416,019 $ 189,746,644

96,084,847 28,945,349 18,329,678 9,341,779 1,072,563 1,823,590 1,976,462 92,670 325,498 1,259,751 8,111,664 167,363,851 $ 191,597,448

$

92,617,522 26,439,295 19,757,067 10,304,500 884,775 1,885,531 1,860,050 93,712 337,241 681,098 4,291,191 159,151,982 $ 181,699,333

$ 95,266,537 32,010,388 20,595,066 10,678,199 1,348,254 1,876,169 1,856,866 85,188 365,681 1,453,389 2,911,413 168,447,150 $ 195,074,067

1,477,573 6,872,413 174,151,268 $ 199,213,411

$ (46,466,191) 14,188,291 $ (32,277,900)

$ (44,081,486) 16,865,938 $ (27,215,548)

$ (49,966,283) 15,299,224 $ (34,667,059)

$ (48,297,501) 30,515,529 $ (17,781,972)

$ (57,007,368) 38,612,945 $ (18,394,423)

$ (59,054,112) 39,143,984 $ (19,910,128)

$ (62,595,799) 35,255,898 $ (27,339,901)

$ (69,601,805) 25,673,095 $ (43,928,710)

$ (72,430,991) 37,933,788 $ (34,497,203)

$ (93,885,788) 34,520,083 $ (59,365,705)

$

$

$

$

$

$

$

46,328,395 16,007,631 2,286,751 13,720,509 2,121,326 548,394 1,015,817 2,159,392 871,305 2,812,600 87,872,120

$ 48,939,746 16,681,098 2,383,014 14,298,084 2,075,062 449,831 1,176,698 2,307,769 1,185,245 10,942,428 100,438,975

$ 54,024,096 17,806,528 2,543,858 15,263,151 2,027,462 487,155 1,299,274 406,854 1,380,056 5,145,627 100,384,061

8,822,828 17,595 (2,812,600) 6,027,823 93,899,943

6,322,089 (10,942,428) (4,620,339) $ 95,818,636

1,078,913 2,000 (5,145,627) (4,064,714) $ 96,319,347

18,270,315 31,700,918 49,971,233

$ 28,007,984 33,313,449 $ 61,321,433

$

Net (Expense)/Revenue Government activities Business-type activities Total primary government net expense

General Revenues and Other Changes in Net Position Government activities: Taxes: Sales and use taxes - General government $ 31,299,351 Sales and use taxes - Public safety 5,366,325 Sales and use taxes - Park and recreation 1,788,775 Sales and use taxes - Capital improvements 12,798,391 Franchise and public service taxes 2,106,551 Hotel/motel taxes 391,664 894,306 Intergovernmental revenue not restricted to spe Investment income 822,610 Miscellaneous 293,668 Transfers-Internal activity 3,475,226 Total governmental activities 59,236,867 Business-type activities: Investment earnings 780,709 Miscellaneous 506,071 Transfers - Internal activity (3,475,226) Total business-type activities (2,188,446) Total primary government $ 57,048,421 Change in Net Position Government activities Business-type activities Total primary government

$ $

12,770,676 11,999,845 24,770,521

$

$ $

34,403,578 5,870,777 1,956,926 19,569,255 2,157,871 421,979 1,101,004 608,693 346,998 2,795,080 69,232,161 481,283 260,120 (2,795,080) (2,053,677) 67,178,484

25,150,675 14,812,261 39,962,936

$

$ $

36,065,782 6,094,618 2,031,539 20,315,394 2,269,717 443,663 1,078,777 825,927 450,357 1,558,620 71,134,394 797,046 284,533 (1,558,620) (477,041) 70,657,353

21,168,111 14,822,183 35,990,294

$

$ $

37,777,579 6,318,872 2,106,291 21,062,907 2,327,317 453,376 1,158,392 815,222 727,652 501,074 73,248,682 659,037 171,402 (501,074) 329,365 73,578,047

24,951,181 30,844,894 55,796,075

* 2014 Transportation operations was established as a BTA instead of Governmental Activity

138

$

$ $

38,186,535 6,341,907 2,113,969 21,139,690 2,281,490 464,362 1,060,789 933,373 1,015,926 (669,672) 72,868,369 917,706 669,672 1,587,378 74,455,747

15,861,001 40,200,323 56,061,324

$

$ $

38,693,158 8,631,688 2,107,465 18,765,363 2,142,557 464,292 1,118,273 626,649 1,097,844 3,311,003 76,958,292 929,047 (3,311,003) (2,381,956) 74,576,336

17,904,180 36,762,028 54,666,208

$

$ $

41,601,211 15,175,675 2,167,676 13,006,050 2,178,428 520,259 1,056,904 838,366 829,258 3,956,561 81,330,388 2,479,408 3,514 (3,956,561) (1,473,639) 79,856,749

18,734,589 33,782,259 52,516,848

$

$ $

6,498,273 30,455,369 $ 36,953,642


CITY OF EDMOND, OKLAHOMA FUND BALANCES, GOVERNMENTAL FUNDS Last Ten Fiscal Years TABLE 3

2012 General Fund Restricted Committed Assigend Unassigned Total general fund All Other Governmental Funds Restricted Committed Assigned Unassigned Total all other governmental funds

GRAND TOTAL

$

2013

2,107,217 1,643,231 5,904,708 9,655,156

2,644,344 1,822,138 6,770,667 $ 11,237,149

$

$ 74,827,114 7,352 3,593,792 $ 78,428,258

$

$

63,331,400 3,613 1,905,771 65,240,784

$

74,895,940

$ 89,665,407

$

$

$

2014

2015

3,197,753 578,249 1,434,645 7,375,504 12,586,151

$

$

$

71,339,026 11,733 4,706,939 76,057,698

$

88,643,849

$

2016

2,962,254 1,947,137 6,056,058 10,965,449

$

$

$

61,708,614 11,530 5,077,958 66,798,102

$

77,763,551

$

2017

2,889,481 1,120,870 3,142,639 7,152,990

$

$

$

59,241,768 8,902 5,867,853 (1,999,113) 63,119,410

$

70,272,400

$

NOTE: Beginning in FY 2011 the City implemented GASB Statement 54, changing the categories of Fund Balance

139

2018

2,660,047 1,462,779 5,419,733 9,542,559

$

$

$

53,097,413 3,444 6,909,158 (50,046) 59,959,969

$

69,502,528

$

2019

2020

3,364,662 2,720,331 6,731,159 12,816,152

$

3,467,816 4,069,136 7,900,989 $ 15,437,941

$

$ 49,422,691 61,059 8,994,482 (86,168) $ 58,392,064

$

$

59,247,663 3,175 7,684,589 (128,156) 66,807,271

$

79,623,423

$ 73,830,005

$

2021

3,660,040 4,117,327 7,367,702 15,145,069

$

$

$

66,755,124 83,452 9,776,816 (100,047) 76,515,345

$

80,194,952 98,555 5,644,208 (161,533) 85,776,182

$

91,660,414

$

87,334,410

$

$

3,014,106 (1,455,878) 1,558,228


CITY OF EDMOND, OKLAHOMA CHANGES IN FUND BALANCES, GOVERNMENTAL FUNDS Last Ten Fiscal Years TABLE 4

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

51,252,842 391,664 10,805,328 6,633,164 2,068,170 1,525,110 823,014 593,336 76,199,179

$ 61,800,536 421,979 14,086,717 6,816,347 2,053,931 1,389,282 675,831 747,326 $ 90,191,437

$ 64,507,333 443,663 10,904,286 6,801,451 2,099,735 1,608,680 799,873 708,441 $ 90,184,612

$ 67,265,649 453,376 9,686,171 6,871,742 1,809,016 1,769,355 778,705 30,640 1,021,236 $ 92,057,640

$ 67,782,101 464,362 7,450,843 6,311,280 1,641,283 1,412,552 845,306 85,876 1,488,927 $ 89,764,020

$ 68,197,674 464,292 7,805,686 7,663,884 2,267,734 1,452,924 583,258 61,930 1,107,010 $ 91,746,949

$ 71,950,612 520,256 7,262,029 6,981,728 1,628,740 1,446,443 768,467 823,154 $ 93,554,497

78,343,286 548,394 8,232,953 7,409,618 1,854,649 1,544,064 2,162,265 953,514 $ 103,170,069

$ 82,301,942 449,831 8,188,527 7,128,160 1,653,304 1,625,110 2,289,689 2,689,856 $ 108,401,481

$

5,239,393 37,732,090 2,897,088 4,494,049 4,164,797 296,685 19,112,591

$

$

$

$

$

$

$

$

$

4,495,000 2,458,647 $ 94,088,737

5,988,514 2,509,629 $ 94,240,843

5,328,286 2,363,880 $ 104,930,101

6,364,851 2,164,759 $ 96,585,499

6,529,309 2,005,000 $ 95,827,824

6,701,397 1,597,915 $ 87,390,166

6,956,637 1,496,059 $ 111,776,087

7,194,769 1,249,817 $ 101,513,500

5,389,496 843,076 $ 123,093,572

$

$

(4,056,231)

$ (12,872,461)

$

$

$

$

$

$

Revenues Sales and use taxes Ad valorem taxes Hotel/motel taxes Intergovernmental Charges for services Fines and forfeitures Licenses and permits Investment income Interest earning on interfund loan Miscellaneous Total Revenues

$

$

$

89,637,633 487,155 13,569,960 7,176,468 1,260,602 1,268,230 404,489 1,492,738 $ 117,324,737

Expenditures: General government Public safety Streets and highways Cultural, Parks and Recreation Health and welfare Economic development Capital Outlay Debt service: Principal Interest and fiscal charges Total Expenditures

$

4,095,000 2,852,354 80,884,047

Excess of revenues over(under) expenditures

$

(4,684,868)

Transfers in Transfers out Transfer to escrow agent Bond premium

$

$

$ 69,839,503 (66,985,905) (12,477,058) 1,325,224 26,965,000 $ 18,666,764

$ 68,979,432 (67,435,112) (12,376,172) 1,221,619 12,644,906 $ 3,034,673

$ 75,715,179 (75,214,105) (21,731,628) 2,467,717 20,755,000 $ 1,992,163

$ 52,673,556 (53,343,228) $ (669,672)

$ 54,126,365 (50,815,362) $ 3,311,003

$ 58,879,082 (54,922,521) $ 3,956,561

$

Total other financing sources(uses)

62,738,138 (59,347,356) 3,390,782

59,149,775 (56,337,175) $ 2,812,600

$ 71,195,783 (60,253,355) $ 10,942,428

71,163,408 (66,017,781) (10,302,095) 6,599,299 $ 1,442,831

Net change in fund balances

$

(1,294,086)

$ 14,769,464

$

(1,021,558)

$ (10,880,298)

$

$

$ 10,120,892

$

$ 17,830,409

$

13.8%

9.9%

$

6,339,565 40,600,947 2,909,278 4,858,017 4,350,720 28,076,563

(3,897,300)

6,170,708 42,576,993 1,374,487 5,152,798 4,436,186 26,031,528

6,812,288 45,697,743 1,255,580 5,235,819 4,843,989 33,392,516

5,937,535 49,182,140 6,354,224 4,696,132 1,384,677 576,728 19,924,453

(6,821,479)

6,111,202 49,487,104 5,377,604 5,047,946 1,426,948 19,842,711

(4,080,875)

6,317,255 51,433,553 1,661,448 5,122,238 5,488,301 9,068,059

6,164,331

7,188,375 55,538,847 1,386,878 5,212,135 6,280,570 27,716,586

(8,606,018)

8,039,099 54,673,635 1,415,896 5,447,007 6,343,809 17,149,468

6,887,981

8,779,312 57,730,248 18,317,409 5,427,619 1,480,351 25,126,061

(5,768,835)

Other financing sources(uses)

Proceeds from long-term debt

Debt service as a percentage of noncapital expenditures

11.2%

8.9%

140

(7,491,151)

11.1%

(769,872)

11.2%

10.6%

(5,793,418)

9.2%

10.0%

$

(4,326,004)

6.3%


CITY OF EDMOND, OKLAHOMA GOVERNMENTAL ACTIVITIES TAX REVENUES BY SOURCE Last Ten Fiscal Years TABLE 5

Use Tax

Sales Tax

2012

$48,573,889

2013

58,707,772

3,092,764

2,116,254

41,617

421,979

64,380,386

2014

60,946,182

3,561,151

2,228,284

41,433

443,663

67,220,713

2015

63,188,721

4,076,928

2,282,884

44,433

453,376

70,046,342

2016

63,419,072

4,363,029

2,231,857

49,633

464,362

70,527,953

2017

62,905,560

4,602,444

2,086,557

60,000

464,292

70,118,853

2018*

65,030,252

6,920,359

2,116,876

56,192

520,259

74,643,938

2019

68,602,544

9,740,742

1,921,645

199,681

548,394

81,013,006

2020

71,490,418**

10,811,523

1,922,300

152,762

449,831

86,250,136

2021

76,315,753

13,321,880

1,844,741

182,721

487,155

92,152,250

$

2,678,953

Franchise Tax

Hotel/ Motel Tax

Fiscal Year

$

2,066,159

Liquor Tax $

40,392

*2018 Sales Tax number was adjusted to actual amount; was originally figured on accrual basis. ** 2020 Sales Tax number adjusted, previously printed amount was incorrect.

141

$

391,664

Totals $

53,751,057


CITY OF EDMOND, OKLAHOMA ELECTRICITY REVENUE BY CUSTOMER TYPE LAST TEN FISCAL YEARS TABLE 6

2012 Residential $ Commercial Large Commercial & Industrial Other

Totals

$

2013

2014

2015

2016

44,917,923 20,110,914 879,907 6,029,794

$ 42,678,657 19,814,031 855,677 5,806,358

$ 45,419,073 21,837,857 920,361 6,578,831

$ 49,882,043 20,854,463 779,163 6,619,510

$54,344,401 26,186,761 1,136,853 8,267,848

$

57,601,509 27,314,591 1,256,929 8,797,452

$

56,980,187 27,173,997 1,192,418 8,530,719

$

71,938,538

$ 69,154,723

$ 74,756,122

$ 78,135,179

$ 89,935,863

$

94,970,481

$

93,877,321

$

Source: City of Edmond Utility Customer Service Department

142

2017

2018

2019

2020

2021

54,782,535 26,132,873 1,039,152 8,628,662

$ 56,350,635 26,518,095 1,017,380 8,849,524

$ 54,575,536 25,993,972 740,706 8,626,611

90,583,222

$ 92,735,634

$ 89,936,825


CITY OF EDMOND, OKLAHOMA TOP TEN ELECTRIC CUSTOMERS LAST TEN YEARS TABLE 7

2012

% of Total

Value

% of Total

Value

% of Total

Value

% of Total

2021

Value

% of Total

Rank

Value

Rank

% of Total

2020

2019

Rank

Value

2018

Rank

% of Total

2017

Rank

Value

2016

Rank

% of Total

2015

Rank

Value

2014

Rank

% of Total

Value

Rank

Rank

Taxpayer

2013

Value

% of Total

University of Central Oklahoma

3

$

1,789,302

2.4%

3

$

1,719,861

2.2%

3

$

1,078,747

1.2%

3

$

1,825,544

1.9%

3

$

1,851,218

2.0% 3

$

1,377,662

1.5%

3

$

2,064,566

2.2%

3

$ 2,292,888

2.5%

3

$

2,424,474

2.7%

1

$

2,480,989

2.8%

City of Edmond

1

$

2,076,083

2.8%

1

$

1,993,673

2.6%

1

$

2,307,101

2.6%

2

$

2,265,985

2.4%

2

$

2,480,011

2.6% 2

$

2,265,360

2.5%

1

$

2,600,226

2.8%

2

$ 2,471,991

2.7%

1

$

2,695,813

3.0%

2

$

2,700,283

3.0%

Edmond Public Schools

2

$

1,957,444

2.6%

2

$

1,847,810

2.4%

2

$

2,161,015

2.4%

1

$

2,437,296

2.6%

1

$

2,577,853

2.7% 1

$

2,490,373

2.7%

2

$

2,577,610

2.8%

1

$ 2,551,565

2.8%

2

$

2,454,767

2.7%

3

$

2,437,435

2.7%

Integris Health Edmond

8

$

349,842

0.5%

5

$

479,408

0.6%

5

$

511,748

0.6%

6

$

494,264

0.5%

9

$

310,761

0.3% 10

$

355,621

0.4%

6

$

579,351

0.6%

6

$

609,388

0.7%

6

$

715,895

0.8%

4

$

999,617

1.1%

Walmart

4

$

851,814

1.1%

4

$

779,495

1.0%

4

$

806,165

0.9%

4

$

1,046,622

1.1%

4

$

811,535

0.9% 4

$

822,461

0.9%

4

$

1,139,731

1.2%

4

$ 1,006,943

1.1%

4

$

967,127

1.1%

5

$

814,922

0.9%

$

-

0.0%

$

-

0.0%

$

-

0.0%

5

OU Medical Center

6

$

373,020

0.5%

6

$

360,258

0.5%

6

$

438,975

0.5%

Crest Foods

5

$

375,621

0.5%

7

$

359,406

0.5%

7

$

389,113

0.4%

Mercy Health

10

$

833,125

0.9%

5

$

674,400

0.7% 5

$

700,892

0.8%

5

$

889,319

1.0%

5

$

878,889

1.0%

5

$

839,491

0.9%

6

$

706,033

0.8%

$

-

0.0%

10

$

291,105

0.3%

$

-

0.0%

7

$

419,144

0.5%

10

$

436,584

0.5%

8

$

451,525

0.5%

7

$

459,753

0.5%

$

447,974

0.5%

$

-

0.0% 9

$

358,587

0.4%

8

$

487,583

0.5%

8

$

456,414

0.5%

7

$

461,075

0.5%

8

$

441,966

0.5%

9

$

430,421

0.5%

0.5% 10 $

381,486

0.4%

9,371,916

0.0% 0.0% 0.0% 0.0% 10.4%

City of Oklahoma City Lowe's

Edmond YMCA Homeland Stores Oak Tree Partners LLC Henderson Hills Baptist Church Totals Total Electric Revenue (see Table 6)

7

9 10

$

363,185

0.5%

$ $ $ $ $

306,271 278,929 6,932,209

0.0% 0.4% 0.4% 0.0% 9.3%

$

71,938,538

8

9 10

$

342,856

$ $ $ $ $

292,138 276,202 6,731,246

$

69,154,723

0.4%

8

$

373,712

0.4%

8

$

452,313

0.5%

0.0% $ 0.4% 9 $ 0.4% 10 $ 0.0% $ 8.6% $

363,000 310,054 7,660,883

0.0% 0.4% 0.3% 0.0% 8.5%

9 7

$ $ $ $ $

448,296 491,979 8,917,855

0.5% 0.5% 0.0% 0.0% 9.4%

$ 74,756,124

$ 78,135,179

8

$

355,156

0.4% 8

$

362,301

0.4%

7

$ $ $ $ $

379,453 393,246 8,273,520

0.4% 7 0.4% 6 0.0% 0.0% 8.8%

$ $ $ $ $

388,111 396,914 8,140,620

0.4% 0.4% 0.0% 0.0% 9.0%

6

$ 89,935,863

Source: City of Edmond Utility Customer Service Department

143

$ 94,970,481

9

$

498,967

0.5%

7

10 $

460,090 9,652,021

0.5% 0.0% 0.0% 0.0% 10.4%

9

$ $ $

$ 93,877,321

$

475,887

$

443,055

$ $ $ 9,330,716 $ 90,583,222

0.5%

9

$

431,664

0.5% 10 $ 0.0% 0.0% $ 0.0% $ 10.4% $

426,877 9,444,236

$ 92,735,634

0.5% 0.0% 0.0% 0.0% 10.5%

$ $ $

$ 89,936,825


CITY OF EDMOND, OKLAHOMA ELECTRICITY RATES LAST TEN YEARS TABLE 8

Rate Code E01

Rate Schedule

Units

Edm Elec 01/01/201111/01/13

$/mo

12.48

13.50

14.00

14.00

14.00

14.00

$/kWh $/kWh

0.0806 0.0806

0.0822 0.0822

0.0843 0.0843

0.0851 0.0851

0.0851 0.0851

0.0851 0.0851

$/kWh $/kWh

0.0806 0.0833

0.0822 0.0849

0.0843 0.0870

0.0851 0.0957

0.0851 0.0957

0.0851 0.0957

$/kWh $/kWh

0.0806 0.0806

0.0822 0.0822

0.0843 0.0843

0.0851 0.0851

0.0851 0.0851

0.0851 0.0851

$/kWh $/kWh

0.0806 0.0452

0.0822 0.0468

0.0843 0.048

0.0851 0.0485

0.0851 0.0485

0.0851 0.0485

Edm Elec Edm Elec 11/01/201311/1/2014 11/01/2014-11/1/2015

Edm Elec 11/01/201511/1/2017

Edm Elec 11/01/201711/1/2018

Edm Elec 11/01/201811/1/2021

R -1 Residential Customer Charge Energy Charge Shoulder - May First 600 kWh Add'l kWh over 600 Summer (Jun-Sep) First 1,400 kWh Add'l kWh over 1,400 Shoulder - Oct First 600 kWh Add'l kWh over 600 Winter (Nov-Apr) First 600 kWh Add'l kWh over 600

E01

R -DG Residential with Distributed Generation** Customer Charge

$/mo

30.00

$/kWh $/kWh

0.0851 0.0851

$/kWh $/kWh

0.0851 0.0957

$/kWh $/kWh

0.0851 0.0485

Energy Charge

Shoulder - May & Oct First 600 kWh Add'l kWh over 600 Summer (Jun-Sep) First 1,400 kWh Add'l kWh over 1,400 Winter (Nov-Apr) First 600 kWh Add'l kWh over 600 LIHEAP-1 Low Income Home Energy Assistance Program Rider Customer Charge Energy Charge Summer (Jun-Sept) First 600 kWh Add'l kWh over 600 Winter (Nov-Apr) First 600 kWh Add'l kWh over 600 Summer & Shoulder (May-Oct) Acceptance requires quaification by DHS prior to annual participation.

$/mo

2.06

3.08

3.58

3.58

3.58

3.58

$/kWh $/kWh

0.0806 0.0833

0.0822 0.0849

0.0843 0.0870

0.0851 0.0957

0.0851 0.0957

0.0851 0.0957

$/kWh $/kWh $/kWh

0.0806 0.0452 same as R-1

0.0822 0.0468 same as R-2

0.0843 0.048 same as R-2

0.0851 0.0485 same as R-2

0.0851 0.0485 same as R-2

0.0851 0.0485 same as R-2 (Continued)

144


CITY OF EDMOND, OKLAHOMA ELECTRICITY RATES LAST TEN YEARS TABLE 8

Rate Code E02

Rate Schedule GS-1 General Service Customer Charge Energy Charge Summer (Jun-Oct) All kWh Winter (Nov-May) First 1000 kWh Add'l kWh over 1000 GS-DG General Service with Distributed Generation** Customer Charge Energy Charge Summer (Jun-Oct) All kWh Winter (Nov-May) First 1000 kWh Add'l kWh over 1000

E09*

GS-M General Service Medium * Customer Charge Capacity Charge Summer (Jun-Oct) Maximum Demand Winter (Nov-May) Maximum Demand Energy Charge Summer (Jun-Oct) All kWh Winter (Nov-May) All kWh

E03

GS-TOU General Service Time-of-Use Customer Charge TOU Meter Charge (Jun-Oct) Energy Charge Summer On-Peak Hours (2p-8p) Summer Off-Peak Hours Winter First 1000 kWh Add'l kWh over 1000

E08

PL-1 Power & Light Customer Charge Capacity Charge (new 25% ratchet) Summer (Jn-Oct) Winter (Nov-May) Energy Charge First 1,000,000 kWh All Add'l kWh

Units

Edm Elec 01/01/201111/01/13

$/mo

23.04

30.00

30.00

30.00

30.00

30.00

$/kWh

0.1003

0.1004

0.1029

0.1055

0.1055

0.1055

$/kWh $/kWh

0.0864 0.0480

0.0865 0.0481

0.0886 0.0493

0.0908 0.0505

0.0908 0.0505

0.0908 0.0505

Edm Elec Edm Elec 11/01/201311/1/2014 11/01/2014-11/1/2015

Edm Elec 11/01/201511/1/2017

Edm Elec 11/01/201711/1/2018

Edm Elec 11/01/201811/1/2021

$/mo

65.00

$/kWh

0.1055

$/kWh $/kWh

0.0908 0.0505

$/mo

50.00

50.00

50.00

$/kWh $/kWh $/kWh $/kWh

12.00 4.50

12.00 4.50

12.00 4.50

0.0525

0.0525

0.0525

0.0525

0.0525

0.0525

$/kWh $/kWh

$/mo $/mo

23.04 0

35.00 0

35.00 0

35.00 0

35.00 0

35.00 0

$/kWh $/kWh

0.2880 0.0480

0.3350 0.0481

0.3434 0.0491

0.3520 0.0503

0.3520 0.0503

0.3520 0.0503

$/kWh $/kWh

0.0864 0.0480

0.0865 0.0481

0.0882 0.0491

0.0904 0.0503

0.0904 0.0503

0.0904 0.0503

$/mo

72.00

80.00

80.00

80.00

80.00

80.00

$/kW $/kW

11.76 6.10

13.04 8.00

13.37 8.20

13.7 8.40

13.7 8.40

13.7 8.40

$/kWh $/kWh

0.0403 0.0403

0.0403 0.0403

0.0413 0.0413

0.0423 0.0423

0.0423 0.0423

0.0423 0.0423 (Continued)

145


CITY OF EDMOND, OKLAHOMA ELECTRICITY RATES LAST TEN YEARS TABLE 8

Rate Code E06

E07

E04

Rate Schedule PL-TOU Power & Light Time-of-Use Customer Charge TOU Meter Charge (Summer) Capacity Charge Summer Max Billing Demand On-Peak Hrs Demand Winter Winter (Nov-May) Energy Charge First 2,000,000 kWh/month All Additional kWh/month LPL-TOU Large Power & Light Time-of-Use Customer Charge Capacity Charge (new 25% ratchet) Summer (Jun-Oct) mo. Max. Demand On-Peak 2p-8p (except Sun.*) Winter (Nov-May) Energy Charge First 2,000,000 kWh/month All Additional kWh/month * for OG&E summer On-Peak, all weekends and 3 holidays are exempt. On Peak kWh/mo (June 1-Sept 30, 2-7:00 pm) Off-Peak kWh/mo Winter Season: All kWh PS-ND-1 Public Schools Non Demand Customer Charge Energy Charge Summer (Jun-Oct) All kWh Winter (Nov-May) First 1000 kWh Add'l kWh over 1000 *GPWR Green Power Wind Rider (for all standard rates) Wind Selection Charge

Units

Edm Elec 01/01/201111/01/13

$/mo $/mo

72.00 0

100.00 0

100.00 0

100.00 0

100.00 0

100.00 0

$/kW $/kW

1.21 10.71

1.52 13.5

1.54 13.64

1.58 13.68

1.58 13.68

1.58 13.68

$/mo

73.50

600.00

650.00

650.00

650.00

650.00

$/kW $/kW $/kW

5.21 0 5.21

6.5 0 6.50

6.63 0 6.63

6.79 0 6.79

6.79 0 6.79

6.79 0 6.79

$/kWh $/kWh

0 0

0 0

0 0

0 0

0 0

0 0

$/kWh $/kWh $/kWh

0.1150 0.0343 0.0343

0.1302 0.0325 0.0325

0.1328 0.0332 0.0332

0.1361 0.034 0.034

0.1361 0.034 0.034

0.1361 0.034 0.034

$/mo

12.29

50.00

55.00

55.00

55.00

55.00

$/kWh

0.1003

0.1003

0.1028

0.1054

0.1054

0.1054

$/kWh $/kWh

0.0874 0.0518

0.0874 0.0577

0.0896 0.0591

0.0918 0.0606

0.0918 0.0606

0.0918 0.0606

0.0027

0.0027

0.0027

0.00556

0.00842

0.00842

0.01700

0.01700

0.01700

Monthly KWH

Monthly KWH

Monthly KWH

Monthly KWH

8.49 6.86 13.91 9.06 12.62

8.49 6.86 13.91 9.06 12.62

8.49 6.86 13.91 9.06 12.62

8.49 6.86 13.91 9.06 12.62

Edm Elec Edm Elec 11/01/201311/1/2014 11/01/2014-11/1/2015

Edm Elec 11/01/201511/1/2017

Edm Elec 11/01/201711/1/2018

Edm Elec 11/01/201811/1/2021

$/kW $/kWh $/kWh

$/kWh (Customer selects 100% or fixed 100kWh blocks subject to WSC. This WSC rate is added to, and monthly FCA is subtracted from, the standard rate calculation for customer's selected quantity of wind power kWh.) *New Customers to GPWR as of 4/1/2017 As of 4/1/17 customers will be 100% kWh. Max of 100,000,000 kWh annual sales per year. Existing Wood Pole OAL-1 Outdoor Security Lighting Base Charge 7,000 Mercury Vapor * (71kWh/mo) 8.49 9,500 High Pressure Sodium (41kWh/mo) 6.86 14,000 Metal Halide - Directional 13.91 15,500 High Pressure Sodium 9.06 25,000 High Pressure Sodium 12.62 *Not available for new installations

Monthly KWH 7.49 5.86 12.91 8.06 11.62

8.49 6.86 13.91 9.06 12.62

(Continued)

146


CITY OF EDMOND, OKLAHOMA ELECTRICITY RATES LAST TEN YEARS TABLE 8

Rate Code

E05

Rate Schedule Additional Charges Extension of Secondary Circuit and Wood Pole 30 foot pole 35 foot pole 40 foot pole 45 foot pole 50 foot pole *with wiring requirement of 150 feet or less Underground wiring additional *If pole has to be hand set additional charge Ornamental Lighting Fixtures Base Charge 9,500 High Pressure Sodium on 24 foot fiberglass pole (41 kWh/mo) PM-1 Municipal Water Pumping Customer Charge Energy Charge Summer (Jun-Oct) Winter (Nov-May) TSL-LED-1 Traffic Signal Lights Customer Charge Energy Charge Per intersection (250 kWh/mo) OWD-1 Outdoor Warning Device (7-1-08) Customer Charge Energy Charge LM-1 Municipal Roadway & Area Lighting Base Charge 7,000 Lumens-MV Lamps *(71kWh/mo) 20,000 Lumens-MV Lamps *(161kWh/mo) 40,000 Lumens-MV Lamps *(272kWh/mo) 9,500 Lumens-High Pressure Sodium (41kWh/mo) 15,500 Lumens-High Pressure Sodium (71kWh/mo) 25,000 Lumens-HPS (Directional) (107kWh/mo) 25,000 Lumens-High Pressure Sodium (107kWh/mo) 14,000 Lumens-HMLamps (Directional) (71kWh/mo)

Units

Edm Elec 01/01/201111/01/13

5.37 7.24 8.01 8.97 9.93

4.37 6.24 7.01 7.97 8.93

5.37 7.24 8.01 8.97 9.93

5.37 7.24 8.01 8.97 9.93

5.37 7.24 8.01 8.97 9.93

5.37 7.24 8.01 8.97 9.93

5.37 7.24 8.01 8.97 9.93

0 0.00

3.46 354

0 0

0 0

0 0

0 0

0 0

22.84

18.84 41

22.84 41

22.84 41

22.84 41

22.84 41

22.84 41

$/mo

23.04

50.00

50.00

50.00

50.00

50.00

$/kW $/kW

0.0634 0.0480

0.0662 0.0500

0.0679 0.0513

0.0696 0.0526

0.0696 0.0526

0.0696 0.0526

$/mo

10.2 Monthly KWH 19.98

10.2 Monthly KWH 19.98

10.5 Monthly KWH 21.00

10.5 Monthly KWH 21.00

10.5 Monthly KWH 21.00

10.5 Monthly KWH 21.00

11.16 n/c

11.16 n/c

11.16 n/c

11.16 n/c

11.16 n/c

11.16 n/c

5.76 11.62 14.5 4.90 6.82 10.85 9.89 9.50

5.76 11.62 14.5 4.90 6.82 10.85 9.89 9.50

5.76 11.62 14.5 4.90 6.82 10.85 9.89 9.50

5.76 11.62 14.5 4.9 6.82 10.85 9.89 9.5

5.76 11.62 14.5 4.9 6.82 10.85 9.89 9.5

5.76 11.62 14.5 4.9 6.82 10.85 9.89 9.5 (Continued)

19.98

Edm Elec Edm Elec 11/01/201311/1/2014 11/01/2014-11/1/2015

147

Edm Elec 11/01/201511/1/2017

Edm Elec 11/01/201711/1/2018

Edm Elec 11/01/201811/1/2021


CITY OF EDMOND, OKLAHOMA ELECTRICITY RATES LAST TEN YEARS TABLE 8

Rate Code

Rate Schedule Sign & Underpass Lighting Fixtures 7,000 Mercury Vapor *** (71 kWh/mo) 9,500 High Pressure Sodium (41 kWh/mo) *Not available for new installations **When installed on High Mast Lighting System ***These are available for new installations only as sign lighting Additional Charges Standard Wood Pole Extention of Secondary Circuit and Wood Pole 30 foot pole 35 foot pole 40 foot pole 45 foot pole 50 foot pole *with wiring requirement of 150 feet or less Each additional 5 feet Standard Pole other than Wood 15 to 19 foot 20 to 24 foot 25 to 27 foot 28 to 32 foot 33 to 37 foot 38 to 42 foot 43 to 47 foot Ornamental Type Fixtures *7,000 Lumen MV w 19' Steel Pole (71 kWh/mo) 9,500 HPS w 19' Steel Pole (41 kWh/mo) 20,000 Lumen MV w 24' Steel Pole (161 kWh/mo) 25,000 Lumen HPS w 24' Steel Pole (107 kWh/mo)

Units

Edm Elec 01/01/201111/01/13

Edm Elec Edm Elec 11/01/201311/1/2014 11/01/2014-11/1/2015

Edm Elec 11/01/201511/1/2017

Edm Elec 11/01/201711/1/2018

Edm Elec 11/01/201811/1/2021

7.01 7.01

7.01 7.01

7.01 7.01

7.01 7.01

7.01 7.01

7.01 7.01

3.17 4.70 5.47 6.14 6.72

3.17 4.70 5.47 6.14 6.72

3.17 4.70 5.47 6.14 6.72

3.17 4.70 5.47 6.14 6.72

3.17 4.70 5.47 6.14 6.72

3.17 4.70 5.47 6.14 6.72

3.36

3.36

3.36

3.36

3.36

3.36

5.09 5.47 6.82 7.58 11.52 16.22 21.31

5.09 5.47 6.82 7.58 11.52 16.22 21.31

5.09 5.47 6.82 7.58 11.52 16.22 21.31

5.09 5.47 6.82 7.58 11.52 16.22 21.31

5.09 5.47 6.82 7.58 11.52 16.22 21.31

5.09 5.47 6.82 7.58 11.52 16.22 21.31

11.96 11.52 19.26 18.82

11.96 11.52 19.26 18.82

11.96 11.52 19.26 18.82

11.96 11.52 19.26 18.82

11.96 11.52 19.26 18.82

11.96 11.52 19.26 18.82

Note: Data is presented only for years including and subsequent to implementation of GASB 44. Note: Rate codes changed with system upgrade as of 12/2014.

* Rate code E09 and GPWR for new customers became effective on 4/1/2017. **Distributed Generation rate codes became effective on 1/13/2020. Source: City of Edmond Utility Customer Service Department

148


CITY OF EDMOND, OKLAHOMA HISTORICAL UTILITY CUSTOMERS LAST TEN FISCAL YEARS TABLE 9 FYE June 30, 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012

Electric 41,919 41,224 40,558 40,024 39,018 38,468 37,953 38,110 37,665 36,785

Water 32,298 31,585 31,049 30,619 29,798 29,286 28,770 28,747 28,137 27,551

Wastewater 32,999 32,339 31,808 31,346 30,584 30,112 29,983 29,958 29,260 28,793

149


CITY OF EDMOND, OKLAHOMA TEN LARGEST WATER and WASTEWATER CUSTOMERS LAST FIVE YEARS Table 10 2017

0.39

8

10,703

78,247

0.3

5 7 9

14,769 11,668 10,622

96,569 79,236 65,556

0.37 0.31 0.25

Revenue $492,323 345,946

2020

1 2

Usage (gallons) 52,125 30,010

Revenue $501,421 330,949

% of Total Revenue 1.97 1.30

3

27,584

316,868

1.25

3

36,084

342,917

1.25

5

15,349

118,725

0.43 8

10,291

78,619

0.31

4

22,839

164,096

0.60

4

21,108

156,153

0.61

9 6 7 10

9,584 11,701 10,570 8993

74,750 89,940 73,928 63919

0.27 0.33 0.27 0.23

5 6 7 9 10

13,462 12,826 11,706 8685 8,657

110,951 103,053 94,431 100579 68,413

0.44 0.41 0.37 0.40 0.27

8

10,062

78,257

0.28

1 7 6

Usage (gallons) 37,079 17,343 20,487

Revenue $244,102 92,775 94,569

% of Total Revenue 1.40 0.53 0.54

1 4 2

Usage (gallons) 26,169 18,834 28,798

Revenue $208,063 108,276 136,853

% of Total Revenue 1.10 0.57 0.72

8 5

10,337 13,540

62,940 102,434

0.33 0.54

9 7 6 3 10

5,286 6,150 12,196 14,958 12,604

59,186 65,086 75,252 126,810 58,138

0.31 0.34 0.40 0.67 0.31

2021

1 3 5 4 2 6 9

Usage (gallons) 60,539 28,042 17,582 18,277 31,019 15,703 12,864

Revenue $597,141 341,033 131,871 138,311 373,901 122,909 108,806

% of Total Revenue 2.02 1.15 0.45 0.47 1.26 0.41 0.37

8 7 10

14,219 14,870 11,463

107,003 120,132 85,202

0.36 0.41 0.29

1 3 2 7 5 6 4 9

Usage (gallons) 47,502 29,580 39,963 19,300 21,594 19,714 23,002 15,000

Revenue $330,926 101,517 113,366 94,492 117,776 76,716 177,057 91,543

% of Total Revenue 1.69 0.52 0.58 0.48 0.6 0.39 0.9 0.47

10 8

14,913 17,958

86,651 143,270

0.44 0.73

1 2 3 4 5 6 7 8 9 10

Usage (gallons) 46,641 23,993 22,805 21,617 20,735 14,439 14,371 13,089 12,846 12,689

Revenue $517,740 332,143 185,465 164,132 314,001 117,320 123,501 147,832 118,862 99,130

% of Total Revenue 1.60% 1.03% 0.57% 0.51% 0.97% 0.36% 0.38% 0.46% 0.37% 0.31%

1 2 3 4 5 6 7 8 9 10

Usage (gallons) 39,259 35,868 28,073 26,520 20,778 19,614 18,894 15,920 15,443 15,053

Revenue $317,728 126,217 95,696 144,338 126,922 83,693 173,635 102,250 98,696 94,836

% of Total Revenue 1.45% 0.58% 0.44% 0.66% 0.58% 0.38% 0.79% 0.47% 0.45% 0.43%

Rank

100,250

2019 % of Total Revenue 1.79 1.26

Rank

13,713

1 2

Usage (gallons) 57,464 37,034

Rank

4

Rank

1 2 10 6 3

Revenue $523,507 325,414 63,933 94,870 289,509

% of Total Revenue 2.03 1.26 0.25 0.37 1.12

Rank

WATER CUSTOMERS University of Central Oklahoma Edmond Public Schools Kickingbird Hills LLC Rolling Green Apts City of Edmond YES Companies, WFC LLC Edmond Medical (OU Medical Ctr) Integris Health City of Oklahoma City BVP Bryant Place Oscar Renda Contracting Inc. IRT OKC Portfolio Owner LLC TCG Edmond YMCA The Greens Villas at Stonebridge North Holcomb III Freedom Plaza BRE Silver MF Second OK Apple Village MH Est DW Wynn LLC

2018

Usage (gallons) 68,899 38,704 10,175 15,288 33,206

Comparisons to ten year prior were not available. City began tracking data in FY 17.

WASTEWATER CUSTOMERS University of Central Oklahoma Rolling Green Apts BVP Bryant Place City Heights on 2nd Rolling Hills LLC The Greens CCL Covell Drive Edmond Public Schools Olympic Club Apts Villas at Stonebridge II Villas at Stonebridge I City of Edmond BRE Silver MF Second OK Edmond Medical (OU Medical Ctr) BRE Silver MF Second OK Integris Health Edmond AE Sunset LLC Enclave Apartments Covell Village LLC SL Copper Lake Estates, LLC

1 5

Usage (gallons) 31,967 15,288

Revenue $186,842 61,383

% of Total Revenue 1.27 0.42

2

28,583

132,284

0.9

4

13,989

85,483

0.58

6 3 7 8 9 10

11,213 14,769 8,132 4,475 4,063 5,015

40,967 91,479 39,491 36,740 35,762 31,156

0.28 0.62 0.27 0.25 0.24 0.21

5

11,368

104,703

0.60

2 8 9 10 3 4

25,563 10,871 7,407 7,433 20,727 14,404

172,819 87,559 73,149 70,354 130,147 114,703

0.99 0.50 0.42 0.40 0.75 0.66

Comparisons to ten year prior were not available. City began tracking data in FY 17.

150


CITY OF EDMOND, OKLAHOMA SALES TAX RATES OF DIRECT AND OVERLAPPING GOVERNMENTS Last Ten Fiscal Years TABLE 11 2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

City Oklahoma County State of Oklahoma

3.75% 0.00% 4.50%

3.75% 0.00% 4.50%

3.75% 0.00% 4.50%

3.75% 0.00% 4.50%

3.75% 0.00% 4.50%

3.75% 0.00% 4.50%

3.75% 0.00% 4.50%

3.75% 0.00% 4.50%

3.75% 0.00% 4.50%

3.75% 0.00% 4.50%

Total

8.25%

8.25%

8.25%

8.25%

8.25%

8.25%

8.25%

8.25%

8.25%

8.25%

151


CITY OF EDMOND, OKLAHOMA TAXABLE SALES BY CATEGORY LAST TEN FISCAL YEARS TABLE 12 2012 $

Agri, forestry, fishing hunting Mining, oil and gas extraction Utilities Construction Mfg‐foods, textile, tobacco Mfg‐building, books, glass, brick, concrete Mfg‐iron,steel,sign,construction equipment, hardware Wholesale trade‐Automobiles, tires Wholesale trade‐Furniture, home furnishings Wholesale trade‐Lumber, brick, roofing, siding Wholesale trade‐Office & medical equipment, hardware, electrical appliances Wholesale trade‐Heat & Air, plumbing, farm, garden, transportation, industrial equipment Wholesale trade‐Sporting goods, office supplies, drugs, apparel Wholesale trade‐Grocery, meat, fish, fruit, dairy Wholesale trade‐Chemical, plastics, paint, books, florists, farm supplies Retail trade‐cars, boats, tire, parts Retail trade‐furn, household, computer, cameras Retail trade‐hardware, building materials, paint, nursery Retail trade‐grocery Retail trade‐wine, beer, liquor stores Retail trade‐health, pharmacies, Retail trade‐gasoline with conv. Stores Retail trade‐clothing, shoes, jewelry Retail trade‐sporting goods, hobby, sewing, musical Retail trade‐dept stores, gen merchandise Retail trade‐florist, office supplies, pet, art, vending, used merch. Transportation and warehousing‐towing, freight, trucking Transportation and warehousing‐warehousing and storage Information‐newspaper, cable, wireless Finance and insurance Real estate and rental and leasing Professional, scientific, and technical services Adm. & support and waste mangement and remediation services Educational services Health care and social assistance‐doctors, chiropractors, eye, family services Arts, Entertainment, and Recreation‐golf, fitness, bowling, museums Accommodation and Food Services ‐Hotels Accommodation and Food Services ‐Restaurants, Bars Other Services (Auto, Electronic repairs, Salons, funeral Public Administration‐Regulation of Transportation Programs Unclassified

2013*

56,292 66,585 2,969,951 69,507 303,993

$

-

$

28,889 6,252 3,609,167 75,608 254,580 1,170,308 568,332 69,034 115,615 199,677

2015 $

30,001 4,025 3,844,159 70,085 261,041 1,260,151 568,108 89,854 55,968 232,700

2016 $

60,000 23,069 4,303,732 93,837 170,026 1,241,830 472,631 57,888 52,671 306,025

2017 $

29,640 4,398 4,185,086 76,133 135,775 1,212,959 546,054 65,600 52,147 419,681

2018 $

16,591 9,501 4,206,823 82,632 129,840 1,113,894 460,297 63,201 67,191 443,578

2019 $

13,599 32,496 4,277,152 538,213 140,954 1,060,687 546,525 60,144 58,328 378,746

2020 $

16,323 11,520 4,069,894 85,809 170,860 1,257,964 503,246 74,780 63,536 559,128

2021 $

33,573 21,351 4,136,575 145,387 204,966 1,336,393 395,475 108,540 65,383 583,153

631,941

708,417

643,930

658,976

627,313

813,222

723,602

769,842

936,230

1,918,186 224,288 119,956

2,229,790 228,999 111,759

2,171,456 346,309 113,885

2,062,887 377,292 125,520

2,208,374 379,660 100,506

2,487,528 425,503 92,258

2,955,947 460,706 84,125

3,109,257 463,714 81,540

3,252,174 536,791 83,276

3,105,063 4,967,601 4,475,165 6,193,801 5,197,419 1,085,814 1,631,106 8,974,710 62,873 2,116,694 11,467 633,883 25,149 -

179,414 1,180,533 3,667,788 7,274,378 5,730,617 917,293 1,447,945 316,627 2,213,029 1,751,700 11,359,340 1,975,995 168,612 19,378 2,267,040 51,315 950,089 440,391 39,309 42,272

214,533 1,094,582 2,972,839 7,228,993 5,680,279 838,136 1,391,971 477,195 2,135,798 1,721,282 12,471,298 2,145,195 179,183 26,904 2,149,341 108,285 951,448 282,425 33,548 36,647

204,729 1,208,563 3,660,727 6,395,382 6,175,940 902,803 1,352,040 640,540 2,138,160 1,777,882 13,097,434 2,054,285 337,113 20,387 2,185,157 23,316 957,366 227,880 40,869 42,600

186,588 1,310,926 3,241,497 6,613,579 6,197,197 982,101 1,529,810 577,858 2,099,602 1,674,319 13,351,178 1,991,553 25,110 15,928 2,128,055 24,089 1,109,411 161,879 62,411 23,418

179,617 1,260,293 2,335,148 7,199,258 5,882,182 1,064,510 1,676,903 557,585 2,131,216 1,486,384 13,398,886 1,970,945 33,528 14,079 2,015,693 19,850 964,881 151,350 61,858 18,908

187,204 1,245,663 3,118,045 6,709,847 6,010,389 1,078,925 1,834,304 532,878 2,201,179 1,442,871 13,984,416 2,003,809 39,149 36,409 1,917,041 33,361 769,007 861,636 59,464 43,774

204,585 1,284,839 3,001,765 6,828,344 6,344,999 901,373 1,929,079 564,228 2,350,809 1,367,583 14,952,042 2,116,861 70,967 123,226 2,073,822 28,429 914,346 154,374 72,921 39,964

242,898 1,241,154 2,772,591 8,923,751 6,881,476 921,442 1,977,766 588,889 1,996,216 1,393,785 15,858,142 2,328,457 34,349 311,854 1,952,414 29,263 869,415 177,005 89,298 34,878

223,524 1,301,303 3,644,343 9,288,024 6,991,474 1,032,761 2,137,061 766,095 1,932,091 1,640,474 16,219,471 2,578,518 59,229 570,424 1,875,389 28,977 819,709 188,222 85,122 27,886

272,925

23,351

21,599

15,736

15,840

22,207

32,915

36,070

47,060

58,363

865,127 1,410,566 6,901,495 707,734 138 429,028 63,464,669

1,009,240 903,853 7,565,202 793,278 562,687 64,162,993

947,246 463,927 8,346,711 831,390 88 63,077,969

975,814 521,934 8,831,233 861,636 560 65,745,524

870,859 541,565 9,117,252 884,157 5,860 50,432 71,379,642

995,267 575,450 10,230,348 1,007,699 7,352 277,546 76,401,393

3,149,901 -

117,573 358,175 929,140 472,940

$

20,050 5,204 2,185,463 50,217 110,738 1,075,374 759,798 62,456 49,323 215,711

2014

677,950 47,925,677

$

448,675 476,835 7,718,137 692,889 (13) (20,517) 58,761,128

764,894 611,217 7,092,658 702,250 (139) 667,328 61,376,116

980,644 623,016 9,214,074 934,202 (308) 98,993 68,542,472

(1) The source for taxable sales by category is the Oklahoma Tax Commission. This amount is the gross amount before the State retains portion for revolving fund. Note: in FY 2013, the Oklahoma Tax Commission changed their SIC codes and now use NAICS codes. These new codes have more categories than in previous years. We matched previous years as best that we could to match to the new codes descriptions.

152


CITY OF EDMOND MONTHLY SALES TAX REVENUES COMPARISON LAST SIX FISCAL YEARS TABLE 13

2016 Month July August September October November December January February March April May June TOTAL

Sales Tax Rate 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75%

$

$

2017 Sales Tax Revenues 5,270,209 5,830,639 5,394,795 5,615,741 5,358,088 5,256,228 5,392,339 5,491,711 4,893,519 4,930,408 5,312,763 5,065,937 63,812,377

Sales Tax Rate 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75%

$

$

2018 Sales Tax Revenues 5,348,556 5,249,321 5,401,153 5,458,570 5,267,714 5,313,129 5,386,949 5,367,870 4,925,300 4,777,946 5,228,042 5,257,846 62,982,396

Sales Tax Rate 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75%

$

$

2019 Sales Tax Revenues 5,525,826 5,402,310 5,477,654 5,524,910 5,336,174 5,327,875 5,666,647 5,610,186 5,007,835 4,867,821 5,575,678 5,321,730 64,644,646

Sales Tax Rate 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75%

$

$

Source: Oklahoma Tax Commission

153

2020 Sales Tax Revenues 5,825,577 5,589,307 5,800,551 5,920,637 5,313,641 5,567,723 6,003,639 5,821,576 5,102,775 5,279,681 5,995,000 5,918,697 68,138,804

Sales Tax Rate 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75%

$

$

2021 Sales Tax Revenues 6,062,071 5,998,124 6,061,932 6,362,637 5,905,968 6,189,019 6,147,600 6,247,826 5,350,831 5,317,952 5,810,512 5,517,419 70,971,892

Sales Tax Rate 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75%

$

$

Sales Tax Revenues 6,291,999 6,494,808 6,210,854 6,392,948 6,261,326 6,173,272 6,543,962 6,303,251 6,007,094 5,441,413 6,858,150 6,653,702 75,632,778


CITY OF EDMOND HISTORICAL SALES TAX REVENUES LAST TEN FISCAL YEARS TABLE 14

Fiscal Year Ended June 30, 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012

Sales Tax Rate Revenues (1) 3.75% $75,632,778 3.75% 70,971,892 3.75% 68,138,804 3.75% 64,644,646 3.75% 62,982,395 3.75% 63,812,377 3.75% 63,028,977 3.75% 60,431,416 3.75% 58,759,119 3.25%, 3.75% (3) 46,164,747 (1)

3/4 Cent $15,115,945 14,179,329 13,627,761 12,928,929 12,596,479 12,762,475 12,605,795 12,086,283 11,751,824 10,389,380

(1) Source: Oklahoma Tax Commission. Sales Tax Revenues returned to the City consist of Sales Tax Collections plus earned interest less monies allocated to the Revolving Fund. (2) Calculated Sales Tax Revenues available for the appropriation by the City to the Authority as security for the Bonds. See "SECURITY FOR THE BONDS - Pledge of Revenues" herein. (3) Sales Tax Rates were 3.25% for 10 months then 3.75% for 2 months.

154

(2)

Percentage Increase 6.61% 5.58% 5.41% 2.64% -1.30% 1.24% 4.30% 2.85% 13.11% 5.84%


CITY OF EDMOND, OKLAHOMA RATIO FOR OUTSTANDING DEBT BY TYPE Last Ten Fiscal Years TABLE 15

Governmental Activities Revenue Fiscal Bonds Notes Year Payable Payable 2012

$

62,750,000

-

Business-Type Activities Revenue Bonds Notes Payable Payable $ 46,625,000

$ 19,010,890

Total Primary Government $

% of Personal Income

Total Debt Per Capita*

128,385,890

3.96%

$

1,536

2013

73,260,000

-

42,400,000

17,891,382

133,551,382

3.97%

$

1,582

2014

67,821,392

-

37,895,094

17,521,569

123,238,055

3.79%

$

1,447

2015

62,153,107

-

30,443,608

16,275,467

108,872,182

3.18%

$

1,239

2016

55,788,256

-

28,716,894

14,999,365

99,504,515

2.91%

$

1,132

2017

49,258,947

-

66,101,745

13,688,263

129,048,955

3.77%

$

1,469

2018

42,557,550

-

227,866,052

12,347,134

282,770,736

7.15%

$

3,066

2019

35,600,913

-

222,557,449

14,288,126

272,446,488

6.89%

$

2,911

2020

28,406,145

-

216,044,086

17,741,666

254,191,897

6.07%

$

2,673

2021

13,265,000

5,336,400

205,095,000

35,835,001

259,531,401

5.77%

$

2,660

* Population is calculated at calender year end prior to fiscal year. See Table 16

155


CITY OF EDMOND, OKLAHOMA RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA Last Ten Fiscal Years TABLE 16

Fiscal Year

Net * Assessed Value

Population

Less Debt Service Funds

Gross Bonded Debt

Net Bonded Debt

Ratio of Net Bonded Debt to Assessed Value

Net Bonded Debt Per Capita

2012

83,591

(2)

824,050,837

-

-

-

0.00%

-

2013

84,404

(2)

854,180,987

-

-

-

0.00%

-

2014

85,190

(2)

902,595,017

-

-

-

0.00%

-

2015

87,877

(2)

961,313,411

-

-

-

0.00%

-

2016

89,065

(2)

1,017,637,106

-

-

-

0.00%

-

2017

89,431

(2)

1,060,520,613

-

-

-

0.00%

-

2018

92,232

(2)

1,089,893,199

-

-

-

0.00%

-

2019

93,598

(2)

1,140,544,725

-

-

-

0.00%

-

2020

95,110

(2)

1,188,273,094

-

-

-

0.00%

-

2021

97,585

(2)

1,234,169,171

-

-

-

0.00%

-

Note: *

Details regarding the city's outstanding debt can be found in the notes to the financial statements Oklahoma County Assessor's Report

(2) City of Edmond Planning Department, estimate based on the 2010 Census, current Building Permits, the Edmond Economic Development Authority Average House Hold (HH) size, and the American Community Survey Occupancy Rate

156


CITY OF EDMOND, OKLAHOMA COMPUTATION OF DIRECT AND OVERLAPPING DEBT June 30, 2020 TABLE 17

Jurisdiction

Net (1) Debt Outstanding

Percentage (2) Applicable to City of Edmond

Amount Applicable to City of Edmond

Direct - City of Edmond Direct Debt Subtotal

$ $

18,290,536 18,290,536

100.00%

$18,290,536 $18,290,536

Overlapping Edmond School District Oklahoma County Overlapping Debt Subtotal

193,455,000 17,348,245 $ 210,803,245

56.85% 14.59%

109,982,102 2,531,140 112,513,242

Grand Total of Direct and Overlapping Debt

$ 229,093,781

$

$130,803,778

(1) City of Edmond does not have any GO Bonds. Amount shown is direct debt for governmental activities. (2) Determined by ratio of assessed valuation of property subject to taxation in overlapping unit to valuation of property subject to taxation in the City of Edmond.

157


CITY OF EDMOND, OKLAHOMA LEGAL DEBT MARGIN INFORMATION Last Ten Fiscal Years TABLE 18

Debt limit

$

Total net debt applicable to limit Legal debt margin Total net debt applicable to the limit as a percentage of debt limit

$

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

82,405,084

$ 85,418,099

$ 90,259,502

$ 96,131,341

$1,017,637,106

$ 1,060,520,613

$ 1,089,893,199

$ 1,140,544,725

$ 1,188,273,094

$ 1,234,169,171

-

-

-

-

-

-

-

-

-

-

82,405,084

$ 85,418,099

$ 90,259,502

$ 96,131,341

$1,017,637,106

$ 1,060,520,613

$ 1,089,893,199

$ 1,140,544,725

$ 1,188,273,094

$ 1,234,169,171

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

Legal Debt Margin Calculation for Fiscal Year 2021 Net assessed valuation

$ 1,234,169,171

Debt limit (10% of total assess value) Debt applicable to limit: General obligation bonds Less: Street bonds outstanding Total net debt applicable to limit Legal debt margin

$ 123,416,917 $

$ 123,416,917

Note: Article 10, Section 26 of the Constitution of the State of Oklahoma limits municipal debt to 10% of net assessed valauation. Article 10, Section 27 of the Constitution of the State of Oklahoma limits municipal debt to non-utility or non-street purposes.

158


CITY OF EDMOND, OKLAHOMA THE EDMOND PUBLIC WORKS AUTHORITY UTILITY SYSTEMS DIVISION - PLEDGED REVENUE COVERAGE Last Ten Fiscal Years TABLE 19

Eligible Revenues

Eligible Expenses1

Net Revenue Available for Debt Service

Maximum Annual Debt Service

Revenue Bond Coverage

2012 Sales Tax and Utility Revenue Bonds Series 2001, 2003, 2004, 2005, 2010 Utility Revenue Bonds Series 1998, 1999, 2003, 2004, 2005 OWRB Series 2005, 2006

111,304,738 127,646,147 127,646,147

91,610,054 83,031,312 83,031,312

19,694,684 44,614,835 44,614,835

6,990,269 8,443,233 8,443,233

2.82 5.28 5.28

2013 Sales Tax and Utility Revenue Bonds Series 2004, 2005, 2010, 2012, 2013 Utility Revenue Bonds Series 2003, 2004, 2005 OWRB Series 2005, 2006

124,463,512 144,078,716 144,078,716

109,885,068 90,796,258 90,795,258

14,578,444 53,282,458 53,282,458

8,552,264 8,443,233 8,443,233

1.70 6.31 6.31

2014 Sales Tax and Utility Revenue Bonds Series 2005, 2010, 2012, 2013, 2014 Utility Revenue Bonds Series 2005, 2014 OWRB Series 2005C, 2013 General Sales Revenue Note

131,616,376 152,179,138 152,179,138

115,686,623 94,999,819 94,999,819

14,578,444 53,282,458 53,282,458

8,552,264 8,399,737 8,399,737

1.70 6.34 6.34

2015 Sales Tax and Utility Revenue Bonds Series 2010, 2012, 2013, 2014 and 2014B Utility Revenue Bonds Series 2014 and 2015 OWRB Series 2005C, 2013 General Sales Revenue Note

143,118,338 164,070,328 164,070,328

125,701,219 97,069,562 97,069,562

17,417,119 67,000,766 67,000,766

7,455,266 6,954,274 6,954,274

2.34 9.63 9.63

2016 Sales Tax and Utility Revenue Bonds Series 2010, 2012, 2013, 2014 and 2014B Utility Revenue Bonds Series 2014 and 2015 OWRB Series 2005C, 2013 General Sales Revenue Note

138,403,411 138,403,411 138,403,411

103,214,885 94,663,331 94,663,331

35,188,526 43,740,080 43,740,080

7,455,266 6,594,274 6,594,274

4.72 6.63 6.63

2017 Sales Tax and Utility Revenue Bonds Series 2010, 2012, 2013, 2014 and 2014B Utility Revenue Bonds Series 2014 and 2015 OWRB Series 2005C, 2013 General Sales Revenue Note

149,288,469 149,288,469 149,288,469

108,783,722 100,087,120 100,087,120

53,091,867 61,788,469 82,767,002

7,455,266 8,079,527 6,954,274

7.12 7.65 11.90

2018 Sales Tax and Utility Revenue Bonds Series 2010, 2012, 2013, 2014, and 2014B Utility Revenue Bonds Series 2014, 2015, 2016, and 2017 OWRB Series 2005C, 2013 General Sales Revenue Note

153,239,493 153,239,493 153,239,493

115,008,242 106,484,620 106,484,620

50,818,371 59,341,993 80,320,526

7,455,266 18,244,923 6,954,274

6.82 3.25 11.55

2019 Sales Tax and Utility Revenue Bonds Series 2010, 2012, 2013, 2014, and 2014B Utility Revenue Bonds Series 2014, 2015, 2016, and 2017 OWRB Series 2005C, 2013 General Sales Revenue Note

157,795,659 157,795,659 157,795,659

115,630,414 105,769,653 105,769,653

42,165,245 52,026,006 52,026,006

7,455,266 18,244,923 6,954,274

5.66 2.85 7.48

2020 Sales Tax and Utility Revenue Bonds Series 2010, 2012, 2013, 2014, and 2014B Utility Revenue Bonds Series 2014, 2015, 2016, and 2017 OWRB Series 2005C, 2013 General Sales Revenue Note

164,742,050 164,742,050 164,742,050

112,180,894 102,472,796 102,472,796

52,561,156 62,269,254 62,269,254

7,455,266 18,244,923 6,954,274

7.05 3.41 8.95

2021 Sales Tax and Utility Revenue Bonds Series 2010, 2012, 2013, 2014, and 2014B Utility Revenue Bonds Series 2014, 2015, 2016, and 2017 OWRB Series 2005C, 2013 General Sales Revenue Note

161,264,695 161,264,695 161,264,695

109,814,323 121,314,800 109,814,323

40,309,667 15,115,945 15,115,945

5,464,966 7,816,791 21,983,267

7.38 1.93 0.69

1

Excludes depreciation and amortization expense.

159


CITY OF EDMOND, OKLAHOMA DEMOGRAPHIC AND ECONOMIC STATISTICS Last Ten Calendar Years TABLE 20

Calendar Year

Population (1)*

Personal Income (in thousands) (2)

Per Capita Personal Income

Median Age of Population (2)

Percent with College Degree or Higher (5)

School Enrollment (3)

Unemployment Rate (4)

2011

81,405

3,157,944,165

38,793

34.2

47.3

22,472

4.0%

2012

83,591

3,327,924,892

39,812

35.2

46.6

23,089

4.4%

2013

84,404

3,217,818,096

38,124

35.0

46.5

23,484

3.7%

2014

85,190

3,319,598,730

38,967

34.9

49.4

23,965

3.5%

2015

87,877

3,715,132,785

40,495

35.7

51.2

24,407

4.4%

2016

89,065

3,783,199,593

42,303

36.1

53.3

24,269

4.1%

2017

92,232

3,955,105,710

41,845

36.2

54.7

25,242

3.5%

2018

93,598

3,953,579,520

42,240

36.3

55.7

25,577

3.1%

2019

95,110

4,186,837,310

44,021

36.3

55.3

23,729

3.0%

2020

97,585

4,501,010,540

46,124

36.7

55.4

25,490

2.9%

Sources: (1) City of Edmond, GIS/Planning Department 2001-2011 Based on the American Community Survey Avg HH, and Building Permits to date * Based on 2010 Census Bureau data (2) Edmond Economic Development Authority (EEDA (3) Edmond School District (4) www.bls.gov (5) Edmond Economic Development Authority (EEDA

160


CITY OF EDMOND, OKLHAOMA PRINCIPAL EMPLOYERS Current and Ten Years Ago TABLE 21

2011

Employer

Product/Business

Rank Employees

2021

% of Total

Rank

Employees

% of Total

Edmond Public Schools

Public Education

1

2,526

40.2%

1

2338

34.0%

University of Central Oklahoma

Higher Education

2

1,191

18.9%

2

1406

20.5%

City of Edmond

Local Municipality

3

660

10.5%

3

749

10.9%

INTEGRIS Health Edmond

Hospital

-

4

500

7.3%

5

442

6.4%

-

6

427

6.2%

-

7

358

5.2%

OU Medical Center

1

Hospital

5

450

Mercy Edmond I-35

Clinic and Wellness Center

Crest Foods

Grocery Store Chain

Petra Industries

Electronic Distribution

7

265

4.2%

8

235

3.4%

Adfitech

Quality Control for Mortgage Industry

4

497

7.9%

9

211

3.1%

Summit Medical Center

Hospital

10

204

3.0%

Pelco Products

Traffic, Decorative, & Utility Hardware

9

133

2.1%

-

-

Innovative Healthcare Systems

Healthcare Billing

10

89

1.4%

-

-

Remy International

Auto Parts Manufacturing

6

300

4.8%

-

-

Cox Communications

Communication Services

8

180

2.9%

-

-

6,291

100%

6,870

2

-

7.2%

-

-

Totals

-

Source: Edmond Economic Development Authority 1

Formerly Edmond Medical Center Formerly Unit Parts NOTE: In 2009, Unit Parts and Remy International were listed individually by Rank as 5 & 7 in the CAFR.

2

161

100%


CITY OF EDMOND, OKLAHOMA FULL-TIME EQUIVALENT BUDGETED CITY GOVERNMENT EMPLOYEES BY FUNCTION/PROGRAM Last Ten Fiscal Years TABLE 22 Fiscal Year 2012

Fiscal Year 2013

Fiscal Year 2014

Fiscal Year 2015

Fiscal Year 2016

Fiscal Year 2017

Fiscal Fiscal Fiscal Fiscal Year Year Year Year 2018 2019 2020 2021

5 4 8 2 7 16 8 26 14 6 1 15 5 2 2 121

5 4 8 2 7 16 8 30 14 7 1 15 6 2 1 126

5 2 8 1 6 17 8 32 17 7 1 15 6 2 1 128

5 2 8 1 5 17 7 32 18 7 1 16 9 3 1 132

6 2 8 1 5 17 6 32 18 7 1 16 10 3 1 133

6 2 8 0 7 18 7 31 16 6 1 19 11 4 1 137

6 2 7 0 8 19 4 33 23 7 1 16 14 4 1 145

6 2 7 0 7 19 4 36 22 9 1 15 14 4 1 147

6 3 7 0 8 20 4 37 24 8 1 16 10 4 1 149

6 3 7 0 8 20 4 37 24 7 1 16 10 4 1 148

114 22 10

114 23 9

114 23 9

123 25 9

120 30 7

120 31 9

122 31 9

122 31 10

121 33 9

125 29 9

115 7 2 24 8 302

115 7 2 24 8 302

115 10 2 24 8 305

117 5 2 24 8 313

117 5 2 24 7 312

119 5 2 26 9 321

120 5 2 31 9 329

123 5 2 29 9 331

121 7 2 26 9 328

129 5 2 26 9 334

25 5 12 42

25 5 13 43

25 5 13 43

25 6 12 43

25 7 11 43

25 7 10 42

25 8 10 43

25 8 10 43

26 8 10 44

26 8 10 44

42 42

42 42

42 42

42 42

42 42

46 46

46 46

46 46

41 41

49 49

Utilities: Electric Water Solid Waste Wastewater Drainage Utility Customer Service Central Warehousing Total Public Works

49 42 20 22 5 38 3 179

49 42 20 22 5 39 3 180

49 42 20 24 5 39 3 182

50 44 20 22 5 42 3 186

50 44 19 26 5 43 3 190

49 50 22 31 5 46 3 206

54 46 22 31 5 47 3 208

54 46 22 31 5 45 3 206

55 60 22 31 6 46 3 223

56 54 22 29 6 46 3 216

Total Full-Time Budgeted Employees by Function/Program

686

693

700

716

720

752

771

773

785

791

Function/Program General Government: Managament Services City Clerk/Governmental Relations Finance Treasurer Human Resources IT Legal Other Engineering Planning CDBG Building Community Image Visit Edmond Downtown Community Center Total General Government Public Safety and Judiciary: Police: Officers Civilians Animal Welfare Fire: Firefighters & Officers Civilians Emergency Management Central Communications/EM Municipal Court Total Public Safety and Judiciary Transportation: Streets Traffic Public Works Administration Cultural, Parks and Recreation: Parks and Recreations Total Cultural, Parks and Recreation

Other includes, Urban Forestry, Vehicle Maintenance, Marketing and Facility Maintenance Source: City of Edmond Human Resource Dept. NOTE: Data is presented only for years including and subsequent to issuance of GASB 44

162


CITY OF EDMOND, OKLAHOMA Capital Asset Statistics by Function/Program Last Ten Fiscal Years TABLE 23

FY 2012** FY 2013** FY 2014** FY 2015** FY 2016** FY 2017** FY 2018

FY 2019

FY 2020

FY 2021

Function/Program Police: Stations Patrol units Fire : Stations Engines Quint Vehicles Refuse Collection: Collection trucks Street miles 1 Streetlights Traffic signals Parks and Recreation: Acreage Playgrounds Baseball/softball diamonds Soccer/football fields Community Center Pool Golf course Disc Golf courses Splash Pad Public Transportation:2 Buses Vans Cemetery: Plots Maintained 3 Vehicles & Machinery Water: Water mains (miles) Fire hydrants Storage capacity (thousands of gallons) Clearwells and Tower Arcadia Lake Wastewater: Sanitary sewers (miles) Force Main Sanitary sewers (miles) Gravity Main Storm sewers (miles) Treatment capacity (thousands of gallons)

1 147

1 147

1 148

1 152

1 152

1 152

1 155

1 157

1 157

1 157

5 5 2 29

5 5 2 29

5 5 2 35

5 5 2 35

5 5 2 44

5 5 2 44

5 5 2 44

5 5 2 43

5 5 2 45

5 5 2 45

25

24

24

24

25

25

25

25

25

26

487 5,542 99

487 5,652 99

494 6,123 99

484* 6,190 100

485 6,339 99

486 6,232 102

489 6,310 103

492 6,315 103

491 6,422 103

495 6,519 103

4,960 23 24 16 1 1 1 3

4,960 23 24 16 1 1 1 3

5,108 24 31 16 1 1 1 3 1

5,108 24 31 16 1 1 1 3 1

5,108 24 31 16 1 1 1 3 1

5,108 24 31 16 1 1 1 3 1

5,108 24 31 16 1 1 1 3 1

5,108 24 31 16 1 1 1 3 1

5,108 24 31 16 1 1 1 3 1

5,108 24 31 16 1 1 1 3 1

12 -

12 -

12 -

12 -

12 -

12 -

12 2

12 2

12 2

15,599 4

15,599 4

15,599 4

15,599 4

15,654 4

15,654 4

15,654 4

15,654 4

15,654 4

15,654 4

500 4,392

502 4,388

507 4,473

516 4,659

523 4827

526 4879

526 5108

545 5174

562 5256

562 5369

20,000 11,000

20,000 11,000

22,000 11,000

22,000 11,000

22,000 11,000

24,000 11,000

22 438 133 9,000

22 449 136 9,000

22 449 144 9,000

22 454 146 9,000

22 549 152 9,000

22 467 157 9,000

12 -

20,000 11,000 22 423 115 9,000

20,000 11,000 22 424 118 9,000

20,000 11,000 22 429 118 9,000

20,000 11,000 22 431 128 9,000

Source: City of Edmond Departments (1) Street miles included private roads for years prior to 2012 (2) Edmond's Public Transportation began July, 1, 2009, COTPA owns the buses, Edmond maintains them (2)Starting with CAFR 2019, removed Trolley category and began tracking Vans. (3) Amounts have been restated to reflect number of plots maintained * GIS dept updated their way of tracking mileage and counted 1 side of street rather than both sides on a few unmarked streets

163


CITY OF EDMOND, OKLAHOMA Operating Indicators by Function/Program Last Ten Fiscal Years TABLE 24 Function/Program

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Police Physical Arrests Parking Violations Traffic Violations

2,728 1,230 14,196

2,931 984 14,151

2,336 747 13,311

2,220 1,008 10,751

2,527 1,063 11,152

2,966 861 11,460

2,756 1,132 8,205

2,774 1,073 9,579

3,209 634 6,758

2,540 427 7,253

6,793 304 1,096

5,984 223 904

6,810 202 1,062

7,375 232 3,144

8,101 259 1,577

8,188 227 1,371

8,277 345 1,641

8,367 179 1,806

8,555 378 1,649

8,844 422 1,143

Solid Waste Collected (Tons Per Day) Recyclables Collected (Tons Per Day)

242 8

218 8

241 18

223 24

196 17

193 18

189 17

193 16

197 16

208 14

Potholes Repaired: Asphalt Patching (Tons) Concrete Patching (Cubic Yards) Asphalt Repairs (Tons) Concrete Repairs (Cubic Yards)

385 140 446 203

214 128 1,105 298

320 89 689 281

279 73 619 400

370 432 714 307

653 72 991 277

967 362 1,186 351

1,276 58 1,127 56

1,503 20 4,765 469

1,054 75 138 32

20 16 1 7 1 2 4 14

20 16 1 7 1 2 4 14

20 16 1 7 1 2 4 14

20 16 1 7 1 2 4 14

20 16 1 7 1 2 4 14

20 16 1 7 1 2 4 14

20 16 1 7 1 2 4 14 -

20 16 1 7 1 2 4 14 -

20 16 1 7 1 2 4 30 4

Fire Emergency Responses Fires Extinguished Inspections Solid Waste Collection

Other Public Works

Parks & Recreation Athletic Field-Agreements EASI (# of Fields Used) Edmond Soccer Club (# of Fields Used) Miracle League of Edmond (# of Fields Used) YMCA (# of Fields Used) Edmond Round Up Arena Edmond Rugby Club (# of Fields Used) Edmond Lacrosse Club (# of Fields Used) B & B Tennis (# of Courts Used) Adult Softball Community Center-MAC Program Participants MAC-Special Event Participants1 (MAC-Multi-Use Activity Center) Classes⁴ Senior Center-Program Participants -Sr. Center Lunch Program

20 16 1 7 1 1 4 30 4

-

-

-

-

-

-

2,332 3,338

4,332 4,034

42,240 9,669

42,753 9,541

1,570 2,348 3,394 45,256 8,618

1,864 915 7,058 48,545 9,686

4,596 5,756 1,032 51,091 9,803

4,596 5,756 1,032 55,560 11,321

2,056 12,960 738 51,221 8,817

2,800 10,950 6,354 53,761 10,214

3,306 8,124 3,931 32,588 6,961

7,838 14,586 6,432 13,964 9,156

491 45 11,409

598 58 10,712

539 53 9,704

589 48 10,400

552 51 11,497

534 56 11,300

570 39 9,706

306 49 8,340

564 47 11,800

564 50 9,900

21,906

22,097

19,815

18,400

19,889

19,080

18,902

18,600

19,400

19,200

7,400

7,000

7,300

7,300

7,680

7,150

6,900

7,600

8,574

7,600

279,388 235,005

283,188 265,000

283,175 277,475

271,341 290,939

266,060 274,074

266,710 248,738

271,539 210,485*

285,918 211,638

279,836 185,355

281,936 111,793

Water New Water Connections Water Main Breaks Average Daily Produced (Thousands of Gallons) Peak Daily Produced (Thousands of Gallons) Wastewater Average Daily Sewage Treatment (Millions of Gallons) Transit Citylink Bus Service-Revenue Mileage Total Route Miles - Passengers2,3

1

2008, tracking of Progams and Special Events are being tracked separately Source: Various City Departments Transit Information provided by McDonald Transit & Associates 2010, Edmond's Transit began July 1, 2009 3 Starting with 2019, changed Citylink verbage to remove trolleys, as well as Broncho Link, which is not counted separately. Total includes fixed, commuter, and para counts. * Citylink Total Route Miles Passengers for 2018 amount was revised in 2019 CAFR after an audit with McDonald Transit was conducted. ⁴Starting with 2014, Class participation has its own category instead of being merged with programs as in the past. 2

164


CITY OF EDMOND, OKLAHOMA CONSTRUCTION PERMITS Last Ten Fiscal Years TABLE 25

Number of Permits

Construction Costs

Building Permit by Fiscal Year

Construction Cost by Fiscal Year 300,000,000

800 700

250,000,000

600

200,000,000

500 400

150,000,000

Residential

Residential

Commercial

300

Commercial

100,000,000

200

50,000,000

100 0

0

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Residential Construction Fiscal year 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012

Number of Permits 719 539 464 539 551 501 601 561 638 506

Commercial Construction

Construction Cost

Fiscal year

Number of Permits

284,362,598 188,964,669 167,703,981 177,327,598 174,282,232 175,957,069 192,714,809 174,720,033 193,540,217 147,731,866

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012

25 31 42 61 52 68 45 39 33 64

Source: City of Edmond Public Works Department Fiscal building permit reports

165

Construction Cost 34,977,887 125,668,175 53,187,000 141,505,949 41,133,249 90,524,820 68,355,573 78,136,825 41,123,830 181,906,271


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