Points of Interest
We borrow water - we do not consume it.  We borrow it as it flows through its hydrological cycle.
 
The funds and account groups of the Authority consist of Governmental Fund Types (General, Special, Revenue and Debt Service), Proprietary Fund Types (Enterprise and Internal Service), and Account Groups (General, Fixed, Assets and General Long-Term Debt). The majority of the Authority’s services are devoted to financing, constructing, and operating independent enterprise operations. These enterprise operations serve various cities and the general public within the Trinity River Watershed. Since most of the enterprise funds that serve these customers are economically and geographically independent from each other, the Authority presents separate financial statements and footnotes for each enterprise fund.

• Annual Report
• Budget Letter of Transmittal
 


The Authority’s accounting records for general governmental operations are maintained on modified accrual basis, with the revenues being recorded when they become measurable and available as net current assets and expenditures being recorded when the services or goods are received and the liabilities are incurred. Accounting records for the Authority’s proprietary funds are maintained on the accrual basis. 

In developing and maintaining the Authority’s accounting system, consideration is given to the adequacy of internal accounting controls. Budgetary control over operating expenditures is achieved through the adoption of an Annual Budget by the Board of Directors. All operating expenditures and expenses are governed by the Annual Budget. This budget constitutes a maximum authorization to expend for each project, function, and object therein. Once the Annual Budget is adopted, any adjustments or revisions, which do not increase the total appropriations of any given budget, are at the discretion of management.

The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All Governmental Fund Types are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets.

All Proprietary Fund Types are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with this measurement focus, all assets and liabilities associated with the operation of these funds are included on the balance sheet.

Fund Equity (i.e., net total assets) is segregated into contributed captial and retained earnings components. Proprietary Fund Type operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets.

The Authority applies all captial GASB pronouncements as well as Financial Accounting Standards Board pronouncements issued on or before November 30, 1989, unless those pronouncements conflict with or contradict GASB pronouncements.

All governmental fund types use the modified accrual basis of accounting. The proprietary fund types utilize the accrual basis of accounting. The authority does not use the encumbrance method of accounting.