weaitO1? OneeRhFRAGLEN CRP ssuerauis Ta po ese GOLDEN E CORPORATION ‘3506 N Ben Wilson, Suite C Victoria, Texas 77901 Phone: 361-878-1421 Fax: 361-572-8115 a Date _S) 2.1200 For _Aacala-Boha Bess Number S\Z ARO > cage From _“\siue eines Solita Te tee ee [Number of pages faxed (including cover) Viereria County Drama Ser Wo 8 Panvel Lracraiel ero Jone “SO, 700%weal 0-2 FRAUEN comromiCn severe vais pan pate VICTORIA COUNTY DRAINAGE DISTRICT NO. 3 ANNUAL FINANGIAL REPORT For tho fiscal year ended June 30, 2007WeelQT RAL abt capo sisaii8 Tau pon pam VICTORIA COUNTY DRAINAGE DISTRICT NO, 3 REPORT nee aes Tasorcanens oa. en ee te hi a eres I: ier ee ea : Palette netsh eiGometh ft been 7 he taneatennn * ‘Required Supptementary Information Ie erent rc teehee tener om ‘ 2m nnn {a saletorvntoaoia nis 128 reer on ‘04 Tanne 185 Laptenbolneteionetnnnnns MM 188 Guorninetentretts nn wn TSH: Conparaie Stutio of Revruns and penton Carrs Find =e Vere S18: Board Member, Key Personnel nd Const nme 28wet? O:e2R FRAUEN coRPORTION severaiis TH poe FM FINANCIAL SECTIONai-t0iT ote FRO oLEN & czaITON sais Tos pone ste ANNUAL FILING AFFIDAVIT ‘THE STATE OF TEXAS COUNTY OF WicTORIA VICTORIA COUNTY DRAINAGE LISTRICT NO, 3 I aaa a othe Vitra County Dreieze Ott No.3 hereby swear, or afi, thatthe Dist named above hat cevewed end approved et @ meeting of the Deets Board of Deecirs on the ye ‘2207, aval uct report for te Asal parod ned June $0 2007 and thet copies of the annual aut ropert have besa led inthe Distt ofce, lected at 107 Tones 7005, ‘The fing aftdevt end the ataced copy of the suet rpert wil be ssmited to the Texas Commision on Environmental Quay to satis he anual fing requirements of Texas Water Code Seon 48.194. Date__3.2aias 21099 —— a ore re om TOEQO723 (Rev. 1072003)salt e:22RLPAELI CPTI surat Tan pase “Tha page tantonaly tt inkWreai-aiT o1-Ru CL coONTON amisrais Tia por ea HARRISON, WALDROP & UHEREK, L November 20,2007 To the Commisslonors Veeria County Drainage Distt No. 3 Vectoe, Texas 77001, In planning snd pertrming our auto he franc statements of Vola County Drainage Dstt No, 3 (the “Distt as of and fot te year ended June 30, 2007, secordanee with aoding siandarce general _ccopledn tha Une Slates of America, we conldoed he Dis nema conl over financial oper (etgma conto) 3 basa fr designing ox auting procedures forthe purpose of expressing out optic fn tha fnoncla statement, tut na forthe purpose ef expressing an opinion er be etochvness of he Diatiete internal cont” According, we do not exress en opinion onthe afetreness of be Dit eter eo. (Our consizeraton of rtemal contol was for the ited purpose described nth pracangparsgragh and would net necessary lcertly af deficeeies In tera con bat meght be sevice eller: oF ‘ater wesknesses. However, ae dscussed below wo Weriied deter i eral conto he we onsler tbe moteral veaknets A cntol defienoy exists whan the design operation of contol dose nat slow management oF ‘employees, oth normal course of performing thet ssigned funcions lo preven dla mssaloments ona tne basis. A sigan defence a corto defiancy, a combinalon of eon defences, al fdversly fects the ety ably ft, autora, cer, process, or rept fant das ret 9 ‘cordance wih ganerly accented accountng prncfles such Int tere more un 8 remte Hksineod {hal a mieitement of the eltys frandol Saloons that's more thon ieansequenta wil nol be ‘revered or detected by the uty rma earl. Wa cersitr tne folowing deen io bea egrcant Setsaneynrteral conto, ‘A maliial waskness iso siicantdefeiency, ofa combina of egiicart detdecies, that resus In tore hen @ renee ethood Inala rater mitten cf the nena statement vl ot be preven ‘or dotecad by the ents rire! contal. Wo bale tal Ye folowng Sion conbtes ® melas ‘reakness, ‘During he course of aur engagement we prepared materi eustmens to the Dies franca records ‘res for bw financial sinters to ben sccoreance wih generalyscceped accouing princes no UUnted Stses of America. This ka very conan ston enon eis oth ia and vepomonting Me euived corte may ol be cost elec for te Das\We-2II0IT O12 ELEN coe suisiiis TH pan Hae Tepe cam J2 Comer Sn Pie Ott 3 2\WheI-MT OLQaRd FROIN €ctROTICN saisra18 Ts roe rate HARRISON, WALDROP & UNEREK, LLP. INDEPENDENT AUDITOR'S REPORT ‘othe recore Vetora County Drainage Dist No.3 Velri,Tenan 700% Wie have ausied tn accompanying hance stsloments of the governmental achilles and mejor fund of the Veeria County Drainage Disc! No, 3 the “DieeY) a8 of and forthe yeer ended dune’ 80, 2007, which calecvaly comprise the Distr’ base franca ststomerts as Istod Inthe ible of contanla. Thee financial Btatements are the responstly of fhe District's management. Our responsbiy i io express an opinion on ‘hese financial sialomens based on our sud. Wie conducted our aut in aecordance wth ausing slondards generat scepted inthe Une Sle of America. ‘Those standards requre thal we plan end perform the wu fo obi reasonabe ascurance about whether tho ‘ane! stalements ae re of mele! misstatement. An aud includes examining ona eat bis, evidence supporting the enouns end dlscloures In to fancllslalamante, An aut ao Inchdes atecseing the ‘secoumtng pris used and sigan! eelimates mado by manegemert, a8 wol ee evaluating the ovest ‘nancial lalamert preseaiaton. We befeve that our ust powdes@ ressonabe bel or our opinion. In our oplnon, the fas! stotemenis referred to above present fay, a all malral respects, te respective financial poston ofthe goverment aetvles and moj fund of the Disticl ex of June 20, 2007, and the respecive changes Infancia poston, where applicable, therect for be year then ended in confor wth ‘sccourtng princiles gararaly scooped ine Unted States of Americ, ‘The management's dcussion and ana}yls and budgetary comparison inormaton on pages 3 tough 8 snd 47 ‘trough 18 re not 8 roqured pat of he basi nancial sateents but ae suplemeniary inoraton requ by sccouning pinchles general accepied in the United Sites of America. We have applied certain lied procedures, wich corsisie prindpely of Ingues of management regarding the methods of measurement and Preseniation of fe requis sipelamanar nformalion. However, we ot Sud the Information end express ‘pion on it “The Texas Commisson on Envionmaral ually reques distil to include certain formation fa thee Anne! Fini! Report n eorlrmiy wn lve and ropuaina ofthe Elte of Texas: Thin fermaton ie dowiglaed a ‘upplemertal formation inthe table of eorents and is ineided heren es exible TS? trough TSH8. These “chodulos have ean subjected to the ating procedures appid In the ula ho besic nance sietermens ‘nd. In our opinion, are fait saled, all materia especs, in rlaton to he bate franca stalemate taken 82 © Sin blah 20 November 4, 2007weal-0i7 al2aRd ROSELLE craROTION eran Ta pat peste This page ntntonety le bakweeaieutT o:eapk Faecal € commeATion aersrns Tao pon eat VICTORIA COUNTY DRAINAGE DISTRICT NO. 3 [MANAGEMENT'S DISCUSSION AND ANALYSIS. shure 30, 2007 In tis socton of tha Annual Financial Resort we, the managers of Vetoia County Drainage Dieict No. 2 (theater, discuss and anaiyze he Dist’ rsncal pertrmance fo lhe fecal yeer end Lune 60, 2007. Praase reac I In conjunction win the independent audios report on page 2 and te Diss basis hana Slatomont, which begin on pape 7. Acomparaivaenlyls is posonod EPORT “Thi annual repr consis of» earls financial ttemets, The goverment wide fence sttemenis include the Statement of Net Assos andthe Satament of Actes (on popes tough 6) These sslements provide lnformoton about te ails of the Discs 2 whcle ad presenta longer-term view of the sits property ‘2g other nancial mates. They rete! te fw of eal economic rasurees ine manner sia othe rane! ‘reports of business enerrse, Fund fiance ettements (ato on pages 7 trough 8) report the Dist operations In meve dela than the govemmentide statements by proveng Inforaton about the Olecrs most sonfeart tunes." Fot ‘Governmental ectvtes,thece sltenerts tal how sericea were fenced inthe tortor 8 Wel os Whet ‘eseurces remain for Mure apendng. Tey eect the fow of curen inal revoir and nal The bad ot taxlevles and the speropratons Buse ‘The noles fo the ancl eatemenis (tang on page 10) provide nara explanations cr eddie! data ‘needed fr fl isclosurein te goverment. wide sltemeants orthe fund tance satrnena, ‘Raparting he Dish a3 2 Waals The Stiamont of Not Assets and the Statement of Actes ‘Tho snayao of the Discs overs fharcisl concen and operations & on pages 7 trough 8. is primery Purpose I to show whaler the Osicte fandal conten improved or dined oa result f Une yours ‘ctv. ‘The Slaioment of Nat Assos nudes al the Dist’ sels and labios et the end of eyes, whe ‘he Statomont of Actvis includes al the revenues and expenses generated bythe Davis cperatons eng the yoar. Those stems apy the acca baw of accountng, whieh i te Basi used fy pve Sect companion, ‘At ofthe current yeers revenues and expanaes aro takon ino account regardless of when cash a recived or al, All ofthe Distt eoets are pared wheter toy serve tie cure eer or fre years. Llsbiies re ‘Considered regards of wheter they must be pat inthe Gran yor or uur years ‘These two statomenis report the Distt net exsels and changes in them. The Ditlete net abtets (he atfecnce botwoan steels and Ttilies) prove one Mossure ef tha Osets feanca’ hel, oF taal, paion. Over tne, inresses or decesses Inthe Disrrs net asses re one instr of what ke franca! haiti improving or deciing. To fly aesess tho overall heath ofthe Dau, however, one tou consider ‘oncnancil acer 0 wel, such 8 hang nthe Ov ts propery lx bse and ho cohaoona the Deets {nthe Statement of Net Asses and te Sitamant cf Acivles, we dtclore the Distt one ype of actly: Governmental acts «A ofthe Distt asic senices ee ported here, Property tates nd unveil Invesiment earings tnence moat ot hess seliiiesweal: FRG comronTion seuss Tsu pee p81 {USING THIS ANNUAL REPORT (Continued) ot Sionicant Fond Financial Statements “The fund financial ttomonts jo ae Included on pages 7 through ® end grovide deta inermaton abou he ‘ott sigcant unde = not he Oise ea a hola, Lawe and conraca faqs te Disvet to establish some ‘ands. The Disvete administrator can extash ob Lunds, auch 08 debt nrvice end captal project, 0 help ‘conta and manege money fr parlor purposes. The Dstict has only one fund, the Generel Fund, whieh a ‘overwnenta Governmental unde - A ofthe Ditie’s base sericas ara copotad in governmental funds, whlch use modified ‘sciral accounting (a method that measures the recall and dsbursemert of cash and al ther lanl! saeets that can be reedly converted to cash) and report balences thet ore ease for ure apanding. The {Governmental fund etatements provi a dolaled shorter view ofthe Oke gener operatons an the basic Sovioes I provides. We secre te dilrancer bebe goverrenaral achites{rperied Inthe Steterent of Net Assets end the Statement of Actes) ane goverment funde In adustmenta described in tye franca ‘Satoment (CIAL ANALY 8 ut nccato ofa governan's franca postion, The assets Sxceeded ellis at Ue love. of the fecal year ended ‘Aaoted esrr, not assets sve over of Vigora, County Dralnage Dit ‘Sune 30,2007 by $2:18,608 of wnich $1,816,478 wos avalabeto meel the Det ongoin Caisson, Tatler ‘Vetola County Drainage District No.2 NET ASSETS Covernmentl Actes “Total % 207, 206) Change ASSETS Current assets 5 1geaasy $ yengzee—as0H% Copia ase ret) 34757 345.608 048% Total assate 2.101.608 +194 02 LuasnmEs ‘Curent abates 2sor2 0115 -4370% “Total abies 2sar2 3015 NET ASSETS: Invested in copa essets saris 948.008 048% Unresticed net aust 1918879 4573138 s560% Total net assots Eases = Fawra-207 2a een common Ti isa ee ‘GOVERNMENT WIDE FMANCIAL ANALYSIS - (Continued) Tabi ‘Victoria County Drainage District No.3 (CHANGES IN NET ASSETS Governmental Actes otal % 2007 2006, hangs REVENUES Ganeral revenues “Taxcoleciors S s8as7 §st3aTa 734% Penaty apd treat 6,120, et 28% Investment Income es.ea7 os aS13% Micataneovs income : 7488 -10000% ‘otal revenues 2728, EXPENSES. General goverment tt Total expences 434,745 (Change inet assets 52500 1.00% Net assets - July 18.747 1708247 88% Net sets - June 30 Ease | F_aaerer “Tha Distro revenues inerousad $50,120 over he prior yer. This nreaeo In revenues is @ result of tho lneease In property tax revenues duo fo an Increase in assessed valvalons end an Inreaae investment Inoue due fo favorable marelcendions ‘The Dietiets ota expenses decressed aporoxnately 8% rom te prot yar. Thi e duet the combination of @ decrease in truth and weed conrol by $18,209 o” 01%, and 3 lack of need for partime hep resulting & ‘Grease of $141522o 100%, ern the provous yea. ‘Tig pisTRICT’s FUNDS ‘A une 90, 2007, the Distit's governments funds reported an ening tnd balance of $1,789,963, which fs en "rmase of $249.29 in comparieon wih io per year. This ene fund bate le urveserved and a therefore ‘valable for spending, subject lo regulary, stator, and bodpotry resto, (CAPITAL ASSETS ‘The Disc had $247,157, net of acounuistod deprecation, invested In capa asset, which Incudes land, vehicles, and machinery and equlpment. The amount ropresens ane reste ot $1,650 irom their year More detaled inormaticn about the Disa’ cal ease pretntad n Nolet the fancial tatemenis.Wetter ota seakstn E cmemiion eras Tia point pate ECONOMIC FACTORS AND NEXT VEAR'S BUOGET ‘The Distlots Board of Directs considered many factors wien sling the fiscal yea 2008 budget ane tax rat. ‘Some of thee factors related le latory presses especial the coat of ul and equipment mantenanc. ‘ther factors were elated to employee expenses, Thess induded cost of fvng rakes, antciptodInooases lo ‘employee heath Insuranoe promlums, and coniufons to the empnyees'retremert plan. The Board has ‘Sonsdored accelerating he undng of pat current, and fuure benefis sccussYo Wis plan by making an ‘edltenaloptonalconrauten othe Dite's account ato sdbdision socumstt Rnd. CConsieraton was ato gvan 1 cons that may be incured due to the enactment of regulations by the Texas ‘Gonmiston on Envronmentl Guay regerding complence wi ne Federal Clean Water Act. Many of te Distre's down eis, culverts, lw water crossings, and bridges have delatosted due to abnormal ‘abfal, erosion, and 3p6. Thay may nod lo ba rplaced bi iscal para, CONTACTING THE DISTRICTS FINANCIAL MANAGEMENT “This nancial report is deslgne to provide cur eizons, taxpayers, cusomers, investors, and creore with @ {general overviw ofthe Discs franeas end Lo show tha Dslr sccounabiy forthe money & receives "Youhave quectone about hie apo or pees adaonel hanes iron, conta! he Dart busines oce, ‘Bt Vieloria County Drainage Disc No 8, 1070 Bayer Road East, Vetor, Taras T7005,weerzarT 2 RUE ctr aeisrans ua poveise Fone BASIC FINANCIAL STATEMENTSWsI-b1T 124bL aii cove seisrais THis pase Fare VICTORIA COUNTY DRAINAGE DISTRICT NO. 3 [STATEMENT OF NET ASSETS AND GOVERNMENTAL FUNDS BALANCE SHEET tune 30, 207 General Slaoment of Fund _Adusiments_ “Net Arete ASSETS (Caron aisels (Cath ard cash equvaons S 100285 $s +S 1.800.265 epost 00 : ‘00 “Texas rcovabe (nt) 35.086 : 35088 Ccaplalasets (et) 47,187 sa187 Total asset sass MMrasT __2.101,608 waBiLTies CCuront iebsoe ‘Accounts payable 3801 Salalespayatie 500 ‘Acctusdoompeneated absences ois Deteredrevenve 26,008 ‘otal abies 61.088 FUND BALANCESINET ASSETS Fund blarces UUnveseris, tesinstad 52,000 (2,000) E Unesened, undoelgated 1731393 __.f31 309 Total fund batance 4.783368 (4.783369) : ‘otal abilities and fund bla 3 spes4ss, Not asta Invested in capi xsets seas7 Unvesticed nel oseots 1.318479 ‘otal nat assets £_2165,096 ‘Amounts reprted for governmental ocities in the sllemant of net ‘assets ae diferent ton Ie governmental lds beeauee: Capt assets ute in govermantal scien are not arc resoutces ‘nd, therefore, ee nol pote inthe ns. 38787 Property ts reosivabe wil be callecte this yaar, but are nt avatable '00n enough o pay forthe cent pere's exbendree and, therefore, deterred in ho goverment nds S__35,006 ‘Te accompanying notes ar an niga partf hie satement. 7weit Fach CoRR VICTORIA COUNTY DRAINAGE DISTRICT NO. 3 ‘STATEMENT OF ACTIVITES AND GOVERNMENTAL FUNDS REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE For the year snded Juno 3, 2007 setsranis a Pores Fa EXPENDITURES. ‘Curent ‘Soles Directors Employees Longeviy Payrol taxes Retrement conbutons Insurerce eats Werkmen's compensation ‘Ober ris en supeos Repol and mantonance Fost Civerts ane gravel Macetaneout Rent Telephone Logal ard wecourting Proessire! seviees Brush ard woud con Maerina hie Commissions and feos Capa ostey ‘Equpnent purchases Depreciation ‘otal expendtures REVENUES ‘General evensoe "Tax cobecons Penaiy and interest Irvestnent ncome ‘Tota revenues Excess (defidancy) of revenues over expenditures Change in net ansets FUND BALANCEINET ASSETS. Beginning year Ed of yoo Genera! Fund 5 tg2s 137097 2035 ropa 16785 23045 5220 3810 7487 asst 39.088 15423 01.401 120 26/47 ea248 249,223 4.0170 $1,789.09 “The eocompanying noi ara an inlagra part of he talerent. 3 (eas) 61768, (1.580 ane 200 (23,223) 248,09 sms 0 53.507 6120 4.304 215.800 sgrerar ‘$_2365,690eaI-17 9-2URE ROGER & crTION sueTat8 Tso pawn Fate Ameuntsreporied for government ecttes inthe statement of actiiies ar diferent ‘hom the goverment urd bolonees becaute: Governmental tunes repo captlouays ax expendures. Howeve nthe saterent of actvils the cot of those assets Is locsted over the esinad Uselil Ives and reported as deprecation expensa. This isthe amount by which caplaloulayexceoded ‘Sepreiaton nie esr pio. ‘Some propery axes wil rot be coleced for severe months afer the Dies fiscal year fonds end, therefore, are nol conldered “avalble"revenuea and ore dlered In te goverment fs te 1.550WERT 6:2 SRO CORPO rae Tea panne Fae ‘This page intron af bankAnish OR Lin covonTio sara aa poten Fate VICTORIA COUNTY DRAINAGE DISTRICT NO. 3 NOTES TO FINANGAL STATEMENTS June 90, 2007 Drainage Disirct No, 9 (the “Distt operates under a Board of Ohectors ramen and provides drainage serves othe residents a he Dstic. The of the eletrate of Viola County on June 23, 1018, unde the Water Code, Chapter 58. ‘The Board is elected by th pubic and has suthorly to make decions,sppoin administrators land managers, and slgnifeany iuence operations ka has the primary countably for facl mates. In evaluating now to dine the government fr franca reporting purpose, te District's Board has conaldared a poientl component ris. The decision io Include & poenial component unt In the reporing ently was made by appyeg the eiteia set forth Wh the ‘Goverrnenal Accounting Standards Boord"GASS") Stlement No.1, The Financial Reporting Eni, ends erences y GASB Sialement No. 3, Determining Whether Certain Organzvone ‘7 Gompone’t Unis. Under inese gasses tho reparing enlky condi of the pinay ‘government (al funds of the Distt organizations fr whieh the primary goverment le financial” sccounatie, organtzatons for which the primary government ert fnarcily ‘sezountaie,oganizaons thet ralse end held economic ecources forthe avet bene ef Ie Dimery goverment, and any cher rpanzaton for which the nalute and igrifeence of the felaonsip wih the fimary goverment Is such fat excuson could eauee tha Dies financial slatements to be misieedng or complete. Under these guidelines tere are not any eres hat tra conscared'm be component una 8, Sovenmeneite and Fund nancial Statements “The governmartvde fine stlemens (Le, the statement of pet ssuais and the statement of changes Inet assole report infermatin en a nani scivies ofthe Oise. For the most Dat the elect of itfund scaly has been removed Irom these altements, Goverrerial ‘cts, whch normally are supported by taxes, and hlargavernmentalrevonves, ae reported ‘Separately rom businee.iype actos, which rly o sipveanl extent on fos and charge or Suppor. The Osc had ro busese ype acviles dung the Year enced une 90, 2007, The Siatement of acvites demonsals the degre fo which Un dre! exoerecs of even furcon SF sognent are ols by progam revenues. Ovedl expenses ee tees Ul sre Cary ‘onifeble win » specie funcion ar segment. Program revenues Incude 1) charges 10 ‘usiomers of apaoanis who puchese, use, o rectly Senet fom goods, services, or prviegee Provided by agen fincion or segment and 2) rants and conan that ee festa 10 ‘oatng the eperaional or eaptl requirements of partular Runcon or seginen. Tanos ar ‘ber lems net properly Ieuded among progam revenues are reported inslead a general ©. Mansurement Focus, Bass of Accounting. and Financial Statement Presaniaton ‘The govemmertvide fnanclel stelemenis. are report’ using the economic resources ‘measurement focus andthe scorn bls of eccouning. Ravanue are recorded whon earned land expenses ae recorded when a labiy is eure, roparsiess othe ting of related cash owe. Property taxes re recognized aa fevenuas in tha year fr which they 8 levied. Graris tnd sme fere are rocogod os revenue as soon a8 a ebgihy requirements ryposee by the providerhave been mat 0Wwaal-20T7 0:25 PAEOLE cmon seuss Tete Panam Foe Ry. WE - (Continued) C. Measurement Focus. Bass of Accounting, and Financial Statement Presentation -(Contaved) Government fund financial statements are repored using the curen fhancal resources measurement focus and the madd acenel bass of acccuiing, evens are recognized st ‘S90n ab ay are bolhmcasurble and avalabe. Revenues are corsierad tobe evalatle when thay are colecite win the exerant perod oF oon enough terete fo pay labile of tho ‘urent paree. Fer this purpowe, Ine Distt considers revenues 10 be avafase ¥ hay are ‘lected win €0 days ofthe end ofthe curent period. Expendtures gonerally are carded when lablty is incurred, asunder accrual accounting. However. debt sence expendires, 28 wells expendtresrelsted to clams end judgmers, are recorded ony when payment iscue, Property totes and intrest assocoled withthe curent prod are al conired to be susceptible {o-ecrua end soihave been recorizod os roveruos of fe cuven Tse pros. Al ober ‘ever lloms are coridredio be measurable and valuta nl win ca is received byte Gert ‘The Distt reves the flowing mejor govenmeea und: “The Gavel Fund Is the Diets primary operating fund, Ht accounts for all financial resources of the general govertment, exeopt those roqued lo be ‘esourted er none nd ‘The Ditret reports ro other fund types. . doa and Budetary Accounting ‘The Boa propares and voles on the adopted budget. Budge for the General Fund are ‘adopied on'a basis coralcant win gonaaly accopled ecrouning prncies (GAAP). The ‘gine! badge was amended during the year by unanimeus consent of the Board Bath the ‘tginl and ral amended budgets are used nthe report The Distt does net erpay he Use ‘of encumbrances ins budgetary accounting, ©, Oar Accountine Poles Pepoxis and vestments ‘Cash and cath equrelns include amounts in pty cash, amand deposi, tine deposts, and ‘ry Invosmen purchased wih an egial mau dota of nel dave or ee, ‘The Distt may Invest ts excess funds in any Incbumenis autborized by the Puble Funds ris agencies end insrumertalies ect ‘oblgatons of fe State of Texas 0” Hs aganies and helnimertattes colsterateed megane ‘blgasons crecty issued by-a federal agency or Inavumentlly ofthe Unted Sates, to Lnderying secur fer which a guorensed by an agency or nsurmertaty of tho Unite States, ‘tier sogaionn, he prin! afd rest of vescn are onconaionoty guafaieea or sued o), ‘or backed by ful ah and creat of, te Sata of Texas ofthe Unted Stes or fet respeetve 1 Feces! epost Iasrance {Carporation (FDIC) or oherwice secured nd corain repurchase aareeriens, “The Disret nas aon a writen Investment poley regarding the Investment oft fds ten Cpl asst, being cepecited Tents “rn “Tote capital eset being dpracitd, rat overrmerial acti sap esse, net Desrecation exoens of 87,768 was charged to he goer goverment unetonproram in 2007 (MOTE.G. DESIGNATION OF FUND BALANCE using the 1009 fiscal your, the Dste's Board of Decors designated 852.000 bn fund balance for engineering servieas raion o improvement of erskslcsledtwoughoul tne Dist,WealtiT ERE Rabanne crroion isra8 rss Pant “This page iteonally let lnk,WEi201T ORE recacen& comronrion sie Ta pate FT REQUIRED SUPPLEMENTARY INFORMATIONVRQ Utes comcein seisrais VICTORIA COUNTY DRAINAGE DISTRICT NO. 3 MAJOR GOVERNMENTAL FUNDS - GENERAL FUND 0 ‘SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET (GAAP BUDGETARY BASIS) AND ACTUAL pens pate For the year enced June 90, 2007 Verionco Orginal Fiat Poste —Budnet_ _Budeet__Acusl___(Negtivo)_ REVENUES “Taxreveruee “Tex eaectons S s22000 $ s2z000 $ setae $ za.4at Penalty nd irtret 8,000 ‘8000 ero (1.880) Investment emo 3000 S300 gata a7 lgesoneocs 2.000 2000 2,000 “otal revenues 585.000 585000 644248 50,248 EXPENDITURES ‘Curent ‘Salorea Direoters e675 Employers (tor, Parttine "7900 Longevity 2285 Pyros 11658 Ratrart contains 8 Irauronce Haan (2948) ‘Workers compeneaten ™ Ober 2360 Parte and supos 33 13.988 10918 MST? Macotaneoa (6.705), Rent A Telephone 252 Legal end ezountng 5850 Professionaloerios 44370 Brush and weed contol 23081 ‘Machine hire 13308 ‘Commisins and foot omgi2 ‘Bonk charges 200, Cresk improvements 2 ss0}000 Copia eutay Equipment perchates 20000 __es18 _220,982 Total expenditures 11928.500 __ 401025 __ 627476 Excess (efloney| of rvanuee over (nde) ‘expences (GAAP budgetary bas) (422000) (449.900) 243223enm.723 Fund balance at bagining f year 1540,17 _1,540470 _ 4510370 Fund balance at ond of year 110.170 $.100887 $1783.09 $_6s8723RIT: 26PA RAL como stan THis Pass eae VICTORIA COUNTY DRAINAGE DISTRICT NO. 3 [NOTES TO REQUIRED SUPPLEMENTARY INFORMATION shane 30,2007 NOTE: iM 04 “The Doi annus adopts bugs that ae prepared using the modliled aces bess of eccountn, wich is cenit wath general sccepied secountng princes. Non Bs For th faa yar ended June 30, 2007, te Dac complied with budpotry resto atl neon Teves except. dt in fe fliowing le Fund Funton Expenditure Varonce Genel Fund Employee elas s 1.007 Heath surance 2005 Mscelanoour 78 8t-t7 OLE cowen common seuss Tu pias rs ‘TEXAS SUPPLEMENTARY INFORMATION.Wetita'T 0:27AM LEN E cmon seisTa8 Tus Pann bse VICTORIA COUNTY DRAINAGE DISTRICT NO. 3 ‘TSI2: SCHEDULE OF GENERAL FUND EXPENDITURES Fer the year ended June 30,2007 Personnel expencitures (including bench)" S 195035 Professional fees: ‘aang 5450 (tor professional feet ‘0 Contracted sorvices Bootksering ‘Appralaal atet ‘Taxcolector Other conected serine Repairs a ‘Administrative expenditures: Directors fone Ineurance Other smbisvatve expenditures maintenance ‘Capital outa ‘apinized ansta ‘Total expenditures * Number of persons employed by the Distet_4_ Ful:Time 0. Part-TimeWetitOIT O2TRM Robo comm VICTORIA COUNTY DRAINAGE DISTRICT NO. 3 Ti: TAXES LEVIED AND RECEIVABLE saisrais Tn Forth yor ended Sine, 2007 Taxes recat a begining of yet 5s sees 200 Cg tay 607715 Adjustments ase “oll beeen 90408 “Taceotetors urentyear 599,700 Poor yeae 12778 “oat Bast “Toon resol at ard tyne ose “Tanesrecevbi by ey eae ‘67 ender 5 7a80 1608 465 1860 ier 200 108 ot 137 aoe tere cs 2103 ot 200 05 313 208 18005 + “axes resonable a and clyeor S__sasee * Amount dues cureniyear nies cease rofbacks ‘SSESSED VALUATION SUMMARY te _ 2005. 2006 Property vausbons: tn $ masoo7ss —§ zerze1e4 © § 96.70190 trprovermanie sseosaeos —* Teraesoso © * Hr anoaae Pavan property osiii7 —fentcasao fan aso Miers "2508000 tses0 31 "500850 tee! Adusinentsexerptone sors201) _108.2en.as0) — _ 108.205 181 “Total propery volte Tiaeaeos200 — Thows.sisa — Fi.ga0s10.900 Tarra per $100 vater Waintanence tx rea Soom: § ooo § _o.0so0 Sor § aos § 0.0800 OFeinatxtory a ee ee Percnt of aoe coleced Totnes teed 970% 59.09% 055% ”wn2ito1?obaTPL PRL enn sisrais TG pwns VICTORIA COUNTY DRAINAGE DISTRICT NO. 3 TSI-7: COMPARATIVE SCHEDULE OF REVENUES AND EXPENDITURES - GENERAL FUND Fe years ensee June 30, om REVENUES Property inxes S arso02 Pena and itrost 5083 Investment income 11880 Miscetanoaus income 282 ‘otal revenues aa2.107 EXPENDITURES Current ‘Sales Directors 119100 42.000 Employees weszs1 123,848 Partie 7 "12051 Longevity rs 4505 rol taxa tai0 A872 Retrerea’centutont 84385108 Ineurance ‘Hee m988, Workers compensation ‘3208 Other 8407 ‘Pans and supolos 5097 ‘Ropats and manisnence 828 Fas! 1759 Culverts and gavel vag Miscellaneous ‘703 Ron 1300 Telephone ti408 Logal ad accountng Bais Professional envicos ‘08 Brush and weed contro 143583 Machine he 4335 ‘lecion expen san Commissions and oo 13787 Bank chorgos ‘8, Creek improvements ror capa oatey Eguprent purchases 125716 ‘Total expeneitures a7677 [EXCESS REVENUES OVER (UNDER) EXPENDITURES $_s4s0 aWiet-tiT oiaTPL Pecan ccoton aeisas TH FNM HT Person of Tol Revenue 2m 08205 204 eso erage 195 437 ‘at 121 sas 1038 a7 24 —= —22 __om __om ___. atco ——Ten00 ——yon00 ——iooo0 ——70000 178 269 134 225 24s vm aot 25 85888 " 2a 156 149 248 046 090 oss 096 09 108 2a 208 240 238 ast ata $36 0 to 388 413 205 813 04 ost 48 $48 05 oss O86 088 om an 152 138 ‘08 tor iz ose 387 173 10 te 368 807 804 sae 340 313 239 338 221 oz : a73 033 033 O44 020wnai-2017 0:27PM FRMAGLEN coRPRATION sure ots Pontes pate VICTORIA COUNTY DRAINAGE DISTRICT NO. 9 {TS1-8: BOARD MEMBERS, KEY PERSONNEL AND CONSULTANTS Forte your ordod June 90,2007 (Complete District MalingAdrest;_1070 Baer Road Eas Visor, Toxay 77006 Distict Business Telphane Nunber:_(3et) 495-1802 ‘Submision Dato ofthe most recat Die! Region Form (TWE Sections 6.054 ena 48.054): —azmyigg Linton Fees of Ofc that Dtecor may receive duly fee yaar (Gat by Board Resolaion- TW Section 40.060). 98.000 Temetofice Fees ot Expense (Gected or Ofte Reimbue- Agponied) Pais ‘menle Names: exBaletired (FYE 007) _(FYES/30OT Board Members: Thomas A. Cartwright (Beoes) $520 $ 0 Preident 04-5108 Velor Neteor (Elected) «$4728 Ss = Vie President 04 508 Just Lata (Agpoimod) «$4350 £0 Secrotay ‘or 56 ‘ney nemnvawatve Porvonn None ‘Consuitanta: Nene 2