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CITY OF LA PORTE, TEXAS, TEXAS
<br />MANAGEMENTÓS DISCUSSION AND ANALYSIS (continued)
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<br />Construction in progress at year-end represents ongoing projects; to include various water and sewer projects.
<br />Additional information on capital assets activity can be found on pages 52 - 53 in the notes to the financial
<br />statements.
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<br />LONG-TERM DEBT
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<br />At the end of the current fiscal year, the City had total debt outstanding of $33.0 million. This amount is backed by
<br />the full faith and credit of the City.
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<br />The City maintains an ÐAA+Ñ with Standard and PoorÓs for general obligation debt.
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<br />Additional information on long-term debt activity can be found on pages 54 - 56 in the notes to the financial
<br />statements.
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<br />SCHEDULE OF LONG-TERM LIABILITIES
<br />GovernmentalBusiness-typeTotal
<br />ActivitiesActivitiesActivities
<br />202020192020201920202019
<br />General Obligation Bonds16,650,000$ 16,425,000$ -$ -$ 16,650,000$ 16,425,000$
<br />Certificates of Obligation15,185,00019,405,000- - 15,185,000 19,405,000
<br />Premium on Issuance1,190,4721,068,378- - 1,190,472 1,068,378
<br />Developer Agreements4,994,4072,624,661- - 4,994,407 2,624,661
<br />Compensated Absences3,489,4613,214,517163,152 129,050 3,652,613 3,343,567
<br />Net Pension Liability - TMRS11,140,51021,333,8341,208,499 2,303,674 12,349,009 23,637,508
<br />Net Pension Liability - TESRS261,913136,398- - 261,913 136,398
<br />Total OPEB Liability - SDBF1,140,134951,774123,700107,0231,263,834 1,058,797
<br />Total OPEB Liability - RHCP51,716,85143,658,9167,068,1005,913,67158,784,951 49,572,587
<br />Totals105,768,748$ 108,818,478$ 8,563,451$ 8,453,418$ 114,332,199$ 117,271,896$
<br />ECONOMIC FACTORS AND NEXT YEARÓS BUDGETS AND RATES
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<br />During the upcoming year, the will have no increase in property tax rate and no utility fund rate increase. The fiscal
<br />year 2020-2021 budget includes the following highlights:
<br /> Merit increases for non-civil service employees - $663,105
<br /> Meeting and conference increases for civil service employees - $280,000
<br /> No change in employee contribution for health insurance
<br /> Capital projects of approximately $21.6 million (including $3.2 million from Street Maintenance Sales Tax
<br />Funding) and $7.8 million from grant funding
<br /> Vehicle replacement of $1,826,111
<br /> Transfer of $8.4 million from the General Fund for CIP
<br /> Transfer of $4.0 million from General Fund for the Insurance Fund
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<br />Draft 3-12-21
<br /> 15 Fiscal Year 2020 Annual Report
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