Tad annual financial report by oconnorassociate

TARRANT APPRAISAL DISTRICT FORT WORTH, TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2014

PREPARED BY FINANCE DEPARTMENT

TARRANT APPRAISAL DISTRICT TABLE OF CONTENTS Page INTRODUCTORY SECTION Transmittal Letter .......................................................................................................................... i Organizational Chart ..................................................................................................................... v List of Principal Officials ............................................................................................................... vi GFOA Certificate of Achievement for Excellence in Financial Reporting ....................................vii

FINANCIAL SECTION Independent Auditor’s Report ....................................................................................................... 1 Management’s Discussion and Analysis (unaudited) ................................................................... 3 Basic Financial Statements Government-wide Financial Statements Statement of Net Position .............................................................................................. 10 Statement of Activities .......................................................................................................... 11 Fund Financial Statements Balance Sheet - Governmental Fund ............................................................................. 12 Reconciliation of the Governmental Fund Balance Sheet to the Statement of Net Position .................................................................... 13 Statement of Revenues, Expenditures and Changes in Fund Balance – Governmental Fund .................................................................................................. 14 Reconciliation of the Statement of Revenues, Expenditures and Changes In Fund Balance of the Governmental Fund to the Statement of Activities .............. 15 Notes to Basic Financial Statements ................................................................................... 16 Required Supplementary Information Schedule of Funding Progress for Texas County and District Retirement System ....................................................................................... 29 Schedule of Funding Progress for Other Postemployment Benefits ............................................................................................... 30 General Fund – Budgetary Comparison Schedule .............................................................. 31

TARRANT APPRAISAL DISTRICT TABLE OF CONTENTS Page Individual Fund Schedules General Fund - Schedule of Certificates of Deposit .............................................................. 32 General Fund - Schedule of Expenditures by Department .................................................. 33

STATISTICAL SECTION (Unaudited) Net Position by Component Last Ten Fiscal Years............................................................... 36 Changes in Net Position Last Ten Fiscal Years .................................................................... 37 Fund Balances – Governmental Funds Last Ten Fiscal Years ............................................. 39 Changes in Fund Balances – Governmental Funds Last Ten Fiscal Years.......................... 41 Assessments to Taxing Entities Last Ten Fiscal Years ........................................................ 43 Appraised Values by Taxing Entity Last Ten Fiscal Years.................................................... 47 Tax Rates by Taxing Entity Last Ten Fiscal Years ............................................................... 51 Property Tax Levies By Taxing Entity ................................................................................... 55 Principal Property Taxpayers Fiscal Years 2005 and 2014 .................................................. 59 Demographic and Economic Statistics Last Ten Fiscal Years .............................................. 60 Principal Employers Fiscal Years 2005 and 2014................................................................. 61 Full-Time Equivalent Appraisal District Employees by Function/Program Last Ten Fiscal Years ................................................................... 62 Operating Indicators by Function/Program Last Ten Fiscal Years........................................ 63 Capital Assets Statistics by Function/Program Last Ten Fiscal Years.................................. 65 Outstanding Debt by Type Last Ten Fiscal Years................................................................. 66

INTRODUCTORY SECTION

April 17 2015

Tarrant County Taxpayers, Tarrant Appraisal District Board of Directors, and Mr. Jeff Law, Executive Director/Chief Appraiser, Tarrant Appraisal District: The Comprehensive Annual Financial Report of the Tarrant Appraisal District for the fiscal year which ended December 31, 2014 is herewith submitted. This report complies with State law which requires all local governments publish, within six months of the close of each fiscal year, a complete set of financial statements presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and audited in accordance with auditing standards generally accepted in the United States of America by a firm of licensed certified public accountants. Responsibility for both the accuracy of the data and the completeness and fairness of presentation, including all disclosures, rests with the District. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to fairly present the financial position and results of operations of the District. All disclosures necessary to enable the reader to gain an understanding of the District’s financial activities have been included.

THE ANNUAL FINANCIAL REPORT

The District’s basic financial statements have been audited by Weaver & Tidwell, L.L.P., a firm of licensed certified public accountants. The goal of the independent audit was to provide reasonable assurance that the basic financial statements of the District, for the fiscal year which ended December 31, 2014, are free of material misstatement. The independent audit involved examining, on a test basis, evidence and documentation supporting the amounts and disclosures in the basic financial statements, assessing the accounting principles used, and evaluating the overall financial statement presentation. The independent auditor’s report is presented as the first component of the financial section of this report. Based on financial accountability criteria set forth under U.S. generally accepted accounting principles for state and local governments, there are no entities which are potential component units of the District. Additionally, the District is not required to undergo a single audit since it does not receive any federal funds.

TARRANT APPRAISAL DISTRICT PROFILE

The Tarrant Appraisal District was created under the Texas Property Tax Code by the Texas Legislature in 1979. It is a political subdivision of the State of Texas and governed by a five-member Board of Directors (plus a sixth statutorilydesignated non-voting member who is the county tax assessor-collector). The five voting members of the District’s Board of Directors are elected every two years by the taxing entities which financially support the District. The District formally began operations in 1980, pursuing its mission to appraise and establish fair market values for real and business personal property subject to ad valorem taxation. As stipulated under the Texas Property Tax Code, the District serves the citizens and taxpayers of Tarrant County and the 70 taxing entities which lie within Tarrant County, including 41 cities, 21 school districts, and 8 special districts. Tarrant County is located in North Central Texas and is a major part of the rapidly growing Fort Worth-Dallas Metroplex. Most recent Census Bureau data showed Tarrant County with an estimated population of 1,945,360, up 1.6% from 2013. The District continually reviews the way it provides service and strives to make the functions and services as “user friendly” as possible. Over the past several years, more on-line functionality has been adopted to speed distribution i

of service to the taxpayer and tax entities that support the District. District employees serve in a number of statewide offices and roles in support of the ad valorem tax industry. In the unique position of reliance on the governmental entities that we serve for the bulk of its finances, the District pays special attention to the budgetary concerns and limitations of those bodies while setting its budget. Budgetary scrutiny begins early on with the Tarrant Appraisal District’s submission of its proposed budget, per the requirements of the Texas Property Tax Code, to all the taxing entities which financially support the District. A public hearing is subsequently conducted to obtain public and taxing entity input regarding the proposed budget. Contingent upon that input and at the discretion of the District’s Board of Directors, changes to the proposed budget may be made, with final budget adoption being statutorily required by or before September 15th of each year. With the January 1st implementation of the adopted budget, a number of measures are employed to assure that expenditures comply with both approved appropriations and established District policies and procedures. These measures include preauthorization and approval of all purchases, expenditures, and personnel actions. The Chief Appraiser is authorized to transfer funds between departments and line items within the General Fund. Any revisions, however, which alter total General Fund expenditures, must be approved by the District’s Board of Directors and taxing entities. To maintain proper budgetary control and oversight, monthly budget reports are prepared for management use and Board review. ACCOUNTING BASIS AND CONTROLS Accounting Basis: The District utilizes a modified accrual basis of accounting to record financial transactions and maintain financial records. Under this approach, revenues are recognized when they become available and measurable and expenditures are recognized when the related fund liability (if measurable) is incurred, except for unmatured interest on general long-term debt and certain similar accrued obligations, which are recognized when due. Internal Controls: Management of the District is responsible for establishing and maintaining internal controls which both protect the District’s assets from loss, theft, abuse, or misuse and assure that adequate accounting data and information are compiled to enable preparation of financial statements which conform with U.S. generally accepted accounting principles. Internal controls afford reasonable but not absolute assurance that these objectives are achieved. The concept of “reasonable assurance” recognizes that the costs of control should not exceed the benefits likely to be derived and the valuation of costs and benefits requires estimates and judgments by management.

FACTORS AFFECTING FINANCIAL CONDITION Local Economy: Anchored by the cities of Fort Worth and Arlington, Tarrant County is a significant and growing part of the “Metroplex” area of North Central Texas. Its economy is a diversified mixture of manufacturing and assembly companies (with Lockheed Martin Aeronautics, Bell Helicopter Textron, and General Motors), healthcare services and products (with Texas Health Resources, Alcon, Cook Children’s Health Care System, and the JPS Health Network), transportation (with American Airlines and Burlington Northern Santa Fe), extensive natural gas exploration and production (with XTO Energy, Chesapeake Energy, and Quicksilver Resources) and major retailers (with RadioShack and Pier 1 corporate headquarters). In December, 2014, Tarrant County experienced an average annual civilian labor force seasonally-unadjusted unemployment rate of 4.0%, down from 5.1% in December of 2013. Natural gas drilling and production, which somewhat insulated the economy in past years, have slowed considerably. However, new housing starts, retail sales and new commercial construction have all shown continued signs of life. Area economists remain guardedly optimistic that the recovery will continue to be felt in these same sectors of the economy. Noted strengths that bolster that opinion are based on Tarrant County’s diversified economy, affordable cost-of-living, attractive and available industrial sites, and skilled workforce which should enable it to withstand the economic doldrums and to continue on its path of positive growth and development. Long-Range Financial Planning: As part of its annual budget, the District sets forth contemplated major projects and capital expenditures for three years beyond the budget year. This “planning budget” is adjusted and extended each year to reflect changing circumstances and needs and to update cost estimates. ii

To provide for substantial, unanticipated expenditures and/or costly capital projects, the District maintains a Contingency Reserve. Under policy established by the District’s Board of Directors, the reserve changed in 2013 to 16.7% of the then current annual budget. Funds for the Contingency Reserve come from revenues earned by the District from the sale of informational materials and products and other non-assessment sources and from year-end surpluses as recommended by the Government Finance Officers Association (GFOA). DISTRICT GOALS AND OBJECTIVES The District’s mission, as a political subdivision of the State of Texas, is to establish market values for ad valorem tax purposes for all taxable property within Tarrant County, to provide additional value-related services as required by law, and to cost-effectively and timely furnish accurate information and quality services to Tarrant County taxing entities, the public, and the State of Texas. The District’s primary responsibilities include: 

Compliance - State law defines the appraisal approaches the District must employ, appraisal value roll production dates, and many other facets of the valuation process. This District is accountable for working within established rules of the Property Tax Division of the Comptroller’s Office and within the statutory parameters of the Texas Property Tax Code.



Accuracy - Valid information is essential to insure the quality of property appraisals. A computerized database is maintained to provide correct valuations of property for taxing entities and other interested parties.



Equity - Each taxpayer is subject to the same property taxation rulings and treatment. Controls and procedures to enhance successful equalization of values are in force to insure that this occurs. Taxpayer protests are handled by citizen Appraisal Review Board panels and, upon appeal, through a statutorilyestablished arbitration process.



Timeliness - The tax community depends on the District for property value information. Taxpayers review property values for accuracy while taxing entities use them in arriving at tax rates and assessments. The District is charged with providing this information, in a useable and understandable format, to taxing entities and taxpayers in a timeframe sufficient to clarify questions and respond to applicable statutes and other needs and requirements.



Service - The District serves and supports both Tarrant County taxing entities and taxpayers. A major component of the District’s strategic plan encompasses effective delivery of its services and products in a manner which facilitates and promotes public understanding and basic knowledge of the property tax system and the District’s statutorily-mandated responsibilities.

MAJOR INITIATIVES Continued progress in implementation of the District’s Strategic Plan occurred in 2014, entailing the following:   

The District continues in the conversion of its enterprise software, moving from a mainframe platform to a web-server based platform. The final acceptance and “go live” date was achieved in October, 2014; TAD Board of Directors committed additional payments to the pension plan to continue reducing its unfunded liability; TAD Board of Directors voted to transfer funds to the Building Maintenance Committed Fund in anticipation of further deferred maintenance replacement projects.

The Tarrant Appraisal District is constantly seeking ways to improve its services and products while concurrently reducing its costs. These objectives are actively pursued on an ongoing basis. iii

OTHER INFORMATION Independent Audit: The independent auditorâ&#x20AC;&#x2122;s report is included in the financial section of this comprehensive annual financial report. The firm of Weaver and Tidwell, L.L.P. was selected by the Board of Directors to perform the 2014 audit. The independent auditorsâ&#x20AC;&#x2122; report on the basic financial statements and supplemental statements and schedules is included in the financial section of this report. Certificate of Achievement: The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Tarrant Appraisal District for its comprehensive annual financial report for the fiscal year which ended December 31, 2013. This was the 26th consecutive year that the District has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Programâ&#x20AC;&#x2122;s requirements, and we are submitting it to the GFOA to determine its eligibility for another certificate. Acknowledgments: The preparation of this report could not have been accomplished on a timely basis without the hard work and dedicated efforts of the entire staff of the Administration Department and our independent auditors. I wish to express my sincerest appreciation to our Administration Department staff, particularly Terrisa Shelton who contributed to its preparation. Additionally, I would like to thank the Board of Directors, District Executive Director and Chief Appraiser Jeff Law, and the department directors and managers for their support in planning and administering the financial operations of the District in a responsible and constructive manner. Respectfully submitted,

Jeff Craig Director of Administration

Organization Chart

*The Appraisal Review Board is an entity separate from the Appraisal District, but funded through the District’s budget.

Tarrant Appraisal District List of Principal Officials December 31, 2014 Board of Directors: Chairman

Joe Potthoff

Secretary

John Molyneaux

Director

Johnny Bennett

Director

John Eubanks

Director

Mike Oâ&#x20AC;&#x2122;Donnell

Non-Voting Director

Ron Wright

Staff: Executive Director and Chief Appraiser

Jeff Law

Director of Administration

Jeff Craig

Director of Commercial and Special Properties Appraisal Director of Residential Appraisal

David Law Randy Armstrong

Director of Support Services

Donna Perlick

Director of Information Systems

DJ Whitehead

Director of BPP/Utilities/Minerals

Brad Patrick

vii

FINANCIAL SECTION

INDEPENDENT AUDITOR’S REPORT The Board of Directors Tarrant Appraisal District We have audited the accompanying financial statements of the governmental activities and major fund of Tarrant Appraisal District (the District) as of and for the year ended December 31, 2014, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents. Management’s Responsibility for the Financial Statements The District’s 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 an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of 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. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and the major fund of Tarrant Appraisal District, as of December 31, 2014, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

AN INDEPENDENT MEMBER OF BAKER TILLY INTERNATIONAL

WEAVER AND TIDWELL, L.L.P. CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS

2821 WEST SEVENTH STREET, SUITE 700, FORT WORTH, TX 76107 P: 817.332.7905 F: 817.429.5936

The Board of Directors Tarrant Appraisal District Page 2

Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the managementâ&#x20AC;&#x2122;s discussion and analysis, schedules of funding progress and budgetary comparison information on pages 3 through 9, and 29 through 31 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 managementâ&#x20AC;&#x2122;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 an opinion on the financial statements that collectively comprise Tarrant Appraisal Districtâ&#x20AC;&#x2122;s basic financial statements. The introductory section, individual fund schedules and statistical section are presented for purposes of additional analysis and are not a required part of the basic financial statements. The individual fund schedules are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the 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.

WEAVER AND TIDWELL, L.L.P. Fort Worth, Texas April 8, 2015

TARRANT APPRAISAL DISTRICT MANAGEMENT’S DISCUSSION AND ANALYSIS This discussion and analysis of the Tarrant Appraisal District’s financial performance provides an overview of the District’s financial activities for the fiscal year ended December 31, 2014. It should be read in conjunction with the accompanying letter of transmittal, the basic financial statements, and the notes to those financial statements.

FINANCIAL HIGHLIGHTS   



The District under spent its amended fiscal year 2014 budget by $473,443, with expenditures for the year totaling $21,032,430 versus $21,505,873 in budgeted resources. On a budgetary basis, a total of $21,167,495 in revenues were realized, 100.51% of the originally budgeted $21,059,373. While assets of $13,856,296 exceeded liabilities of $7,539,882 and deferred inflows of resources of $2,691,051 by $3,625,363 for the fiscal year ended December 31, 2014, there was a $543,521 change in total net position when FY 2013 and FY 2014 year-end total net position figures are compared. In FY 2014, revenues exceeded expenses. In FY 2014, the District expended 99.9% of its budget. In FY 2013, 92.1% of the District’s budgeted funds were spent. The District’s net capital assets (net of depreciation) increased by 37.2% from $2,181,523 in the prior fiscal year to $2,992,476 at the 2014 fiscal year end. This increase was basically due to current (FY 2014) capital assets plus additions, including CAMA Software work in process, less accumulated depreciation for the 2014 fiscal year. At the end of the 2014 fiscal year, the District had a $7,322,904 total fund balance in its General Fund, representing a 1.9% increase above the $7,187,839 fund balance in the previous fiscal year. Of the $7,322,904 fund balance, $4,856,597 is unreserved and undesignated, constituting 23.1% of the $21,032,430 in General Fund expenditures for the 2014 fiscal year. A significant portion of the fund balance is attributable to the District’s Board-established contingency reserve which stood at $3,516,915 at December 31, 2014. The District’s outstanding long-term capital debt decreased in principal by $18,820, from $72,115 in the previous fiscal year to $53,295 in FY 2014.

OVERVIEW OF THE FINANCIAL STATEMENTS This discussion and analysis are intended to serve as an introduction to Tarrant Appraisal District’s basic financial statements. The District’s basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. Government-wide Financial Statements: The government-wide financial statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to a private-sector business. The Statement of Net Position presents information on all of Tarrant Appraisal District’s assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating. The Statement of Activities presents information showing how the District’s net position changed during the fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected assessments and earned but unused compensated absences). With many other governmental entities, the aforementioned government-wide financial statements normally identify and distinguish between either governmental activities supported by general revenues or business-type activities which are typically self-supported by user fees and charges. The District has no business-type activities. Pursuant to the Texas Property Tax Code, the Tarrant Appraisal District’s special purpose is to establish fair market values and administer associated lawful exemptions for all real and business personal property in Tarrant County, Texas. To accomplish this, the governmental activities of the District are organized into four primary 3

functional areas, including appraisal services encompassing the Residential Appraisal Department, the Commercial/Special Appraisal Department, and the Business Personal Property, Utilities & Minerals Division; Support Services which incorporates the Exemptions, Deed Records, and Customer Services; Information Systems which includes the Applications Programming, Network Operations/Management, Computer Center, and Mapping/GIS Divisions; and Administration/General Operations consisting of the Human Resources, Purchasing, Budget/Accounting, Office Services, Appraisal Review Board Divisions, and Building Service operations. All the revenues received by the District are used to financially support the District’s established special purpose and these governmental activities. The government-wide financial statements can be found on pages 10-11 of this report. Fund Financial Statements: A fund is a grouping of related accounts used to maintain control over resources that have been segregated for specific activities or objectives. Depending upon their reporting needs and requirements, governmental entities utilize three types of funds, including governmental funds, proprietary funds, and fiduciary funds. Tarrant Appraisal District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Since the District has no legitimate need or requirement to have either proprietary or fiduciary funds, all of its funds are maintained and reported as governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, the reader may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The District currently maintains one governmental fund. For control purposes, this fund is further delineated into 3 restricted funds and one unrestricted fund. The General Fund is used to account for the acquisition and use of the District’s spendable financial resources and the related liabilities. The Board established Committed Funds dedicated to the purchase of Computer Assisted Mass Approval (CAMA) software, Building Maintenance, and Technology. At the end of the 2014, monies were placed in the CAMA and Building Maintenance funds. All Committed Funds require action from the Board for deposits and withdrawals. Both governmental funds financial statements can be found on pages 12-15 of this report. The District adopts an annual appropriated budget for its General Fund. A budgetary comparison statement has been provided for the General Fund to demonstrate compliance with this budget. It can be found under the “Required Supplementary Information” section of this report. Notes to the Basic Financial Statements: The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 16-28 of this report. Other Information: In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information entailing the District’s progress in funding its employee pension obligations under the Texas County and District Retirement System and budget versus actual revenue and expenditure comparisons for the fiscal year ended December 31, 2014. Required supplementary information can be found on pages 29-31 of this report.

GOVERNMENT-WIDE FINANCIAL ANALYSIS Net Position: As noted earlier, net assets may serve over time as a useful indicator of a government’s financial position. As of December 31, 2014, the Tarrant Appraisal District’s assets exceeded liabilities by $3,625,363. For FY 2014, $13,856,296 in total assets was recorded. Current and other assets (deposits [cash and certificates of deposit], receivables, and prepaid expenses) represented 78% and capital assets (land, building, and equipment) constituted 22% of the total recorded assets. Total liabilities totaled $7,539,882. Of that amount, 89% fell under non-current or long-term liabilities attributable to the District’s capital leases and employee leave obligations. The other remaining liabilities included accounts payable (invoices received by the District after December 31, 2014 for goods and/or services received in 2014), and accrued liabilities. Deferred inflows of resources totaled $2,691,051, representing 2015 revenues collected in 2014. With $13,856,296 in total assets offset by $10,230,933 in total liabilities, the District ended the 2014 fiscal year with $3,625,363 in total net position, a $543,521 increase above the $3,081,842 figure reported in the 2013 fiscal year. As depicted in the table which follows, it should be noted that $(1,306,586) of the $3,625,363 in total net position at December 31, 2014 were in unrestricted net position. Unrestricted net position may be used to meet the District’s ongoing financial obligations and responsibilities.

Net Position - Governmental Activities 2014 Assets: Current and other assets Capital assets (net of depreciation)

10,863,820 2,992,476 13,856,296

Total assets $ Liabilities: Current and other liabilities Long-term liabilities

2013 $ $

Total liabilities $

849,883 6,689,999 7,539,882

Total deferred inflows of resources $ Total net position $ Net position by category: Net investment in capital assets $ Restricted for software purchase Restricted for building maintenance Restricted for technology updates Unrestricted (deficit) Total net position $

10,618,410 2,181,523 12,799,933

Increase (Decrease) $

245,410 810,953 $ 1,056,363

652,201 6,287,496 6,939,697

197,682 402,503 600,185

2,691,051

2,778,394

(87,343)

3,625,363

3,081,842

543,521

2,939,181 1,642,768 200,000 150,000 (1,306,586) 3,625,363

2,109,408 2,114,268 175,000 150,000 (1,466,834) 3,081,842

829,773 (471,500) 25,000 160,248 543,521

Governmental Activities: As indicated below, the District experienced a $543,521 positive change in net position between FY 2013 and FY 2014. When added to the beginning balance or net position at January 1, 2014, the District ended the 2014 fiscal year with a positive $3,625,363 net position balance. As expressed in the “Financial Highlights” section above, FY 2014 revenues met forecasts if anticipated budgeted $150,000 contingency item is excluded, as this revenue was not required due to the fact that expenses fell below budgeted levels, resulting in an increase or positive change in net assets. 5

FINANCIAL ANALYSIS OF GOVERNMENTAL FUNDS 2014

2013

Increase (Decrease)

Program revenues: Fees, fines, and charges for services: $ General revenues: Interest income Total revenues $

21,148,611

20,200,753

947,858

18,884 21,167,495

25,877 20,226,630

(6,993) 940,865

Expenses by governmental activity: Appraisal services $ Interest on long-term debt Total expenses $

20,619,770 4,204 20,623,974

Change in net assets Net position - beginning Net position - ending

$ $

543,521 3,081,842 3,625,363

$ $ $ $

18,947,524 8,545 18,956,069 1,270,561 1,811,281 3,081,842

$ $ $ $

1,672,246 (4,341) 1,667,905 (727,040) 1,270,561 543,521

Governmental Funds: The focus of Tarrant Appraisal District’s governmental funds is to provide information on near-term inflows and balances of spendable resources. Such information is useful in assessing the District’s financing and budgetary requirements. General Fund Budgetary Highlights: There were two amendments required to accommodate the transfer of committed funds to make a milestone payment on the CAMA software and one to fund a roof replacement. However these fund transfers required no additional revenue, in essence not affecting revenue sources. The Texas Property Tax Code, which statutorily governs appraisal districts and their budgets, requires that taxing entities (i.e., cities, school districts, special districts, and the county government) financially support appraisal districts through assessments based on each taxing entity’s proportionate share of the total taxes imposed appraisal district-wide. The Property Tax Code further stipulates that assessments not spent or obligated during the fiscal year must subsequently be credited or refunded to the taxing entities on the same proportionate basis as originally paid. For FY 2014, actual Tarrant Appraisal District revenues, on a budgetary basis, were $21,167,495 or 100.5% of the total revenues forecast for the year. As shown below, the following occurred relative to FY 2014 revenues:   

 

98.1% or $20,669,173 of the originally budgeted revenues came from taxing entity assessments, representing 100.0% collections in this revenue category ; Interest income was 188.8% above FY 2014 budget forecasts and 27.0% below FY 2013 interest earnings. The District has tried to react to all-time low interest rates by changing its investment policies to allow for longer-term investment; Miscellaneous income, exclusive of Thomson Reuters payment noted below, was 88.5% of projected FY 2014 revenues in this category and 61.9% below those earned in FY 2013. As with FY 2013, the Tarrant County 9-1-1 District made its contractually-required FY 2014 payments to the Appraisal District for use of digital aerial Pictometry products; Rendition penalties have proven to be an unpredictable source of revenue. Rendition penalties for FY2014 were 15.0% below FY2013; As compared to the previous year, overall FY 2014 revenues increased 4.7%. An unusual item that contributed to the increased revenue was a one-time payment of $793,936 paid by Thomson Reuters as a penalty for the delay in “go-live” of the enterprise software. The penalty was intended to mitigate certain expenses related to the continued utilization of a mainframe computer that the software was intended to replace.

Government Fund - Revenues by Source

Taxing entity assessments $ Less refunds Interest income Public information materials sales and miscellaneous income 9-1-1 District contract payment Rendition penalty payments $

2014 20,669,173 (600,457) 18,884 798,536 150,000 131,359 21,167,495

2013 19,888,857 25,877

Increase (Decrease) $ 780,316 (600,457) (6,993)

Percent Change 3.9% 0.0% -27.0%

7,431 150,000 154,465 20,226,630

791,105 (23,106) 940,865

10646.0% 0.0% -15.0% 4.7%

Actual expenditures for the fiscal year ended December 31, 2014 were $21,032,430, that being $473,443 or 2.2% less than the $21,505,873 amended budget for the year. As shown on the Budgetary Comparison Schedule found on page 31 of the Required Supplementary Information contained in this report, under-expenditures occurred in most expenditure categories, with the most significant under-expenditures occurring in these areas:   

Some delayed purchases related to software conversion delays; Legislative mandated hearing provisions were budgeted, yet relatively few materialized; The District actively engaged in efforts to reduce mailing expenses, plus a lower volume of mailings.

When compared with FY 2013, a 12.6% increase in expenditures occurred in FY 2014, primarily due to a payment of $1,825,000 to reduce the unfunded liability to the pension fund compared to $750,000 in 2013. The previously discussed overall under-expenditure of budgeted resources and with revenues basically meeting budgetary expectations, on an accounting basis, FY 2014 revenues exceeded expenditures by $135,065. When combined with the $7,187,839 beginning balance, the total FY 2014 year-end fund balance is $7,322,904. This is an increase of 1.9% from the District’s FY 2013 fund balance. Comparative Revenues, Expenditures, and Fund Balances Increase 2014 2013 (Decrease) Revenues $ 21,167,495 $ 20,226,630 $ 940,865 Expenditures 21,032,430 18,675,341 2,357,089 Excess revenues over expenditures $ 135,065 $ 1,551,289 $ (1,416,224) Fund balance - beginning of year 7,187,839 5,636,550 1,551,289 Fund balance - end of year $ 7,322,904 $ 7,187,839 $ 135,065

Percent Change 4.7% 12.6% -91.3% 27.5% 1.9%

Of the $7,322,904 fund balance, $4,856,597 is unreserved and undesignated and must, in part, be refunded to the District’s supporting taxing entities, with the remainder being available for use in satisfying District obligations and/or maintaining the District’s Contingency Reserve.

CAPITAL ASSET AND DEBT ADMINISTRATION Capital Assets: The District’s investment in capital assets for its governmental activities as of December 31, 2014 amounted to $2,992,476 (net of accumulated depreciation). This represents a net $810,953 increase from the previous fiscal year. The table below portrays the District’s capital asset mix for both fiscal years 2013 and 2014. Added capital asset activity information can be found in the Notes to the Basic Financial Statements, Note 3, on page 21 of this report. Capital Assets - Governmental Activities 2014 Non-depreciated assets: Land CAMA - Work in Process Depreciated assets: Building and improvements Furniture and equipment Computers and software

2013

301,409 1,851,912

748,185 81,105 9,865 $ 2,992,476

301,409 980,589

762,541 112,031 24,953 $ 2,181,523

Increase (Decrease) $

871,323 (14,356) (30,926) (15,088) 810,953

Debt Administration: At the 2014 fiscal year end, the District had $57,937 in outstanding long-term capital debt (including $53,295 in principal and $4,642 in interest payments), representing a $23,031 reduction from the prior fiscal year’s $80,968 in outstanding capital debt. The District’s current outstanding long-term debt is in two capital leases. The lease for the District’s office building was retired in 2013. One lease was entered into at the end of 2011 for a folder/inserter machine and another lease was entered into in 2012 for two production printers. Additional information concerning the District’s long-term debt activity can be found in the Notes to the Basic Financial Statements, Note 4, on page 22 of this report. In reviewing the long-term debt activity presented in this report, it should be noted that Texas appraisal districts are statutorily prohibited from incurring bonded indebtedness. As such, a “full, faith, and credit” pledge is not applicable. The collateral for the District’s capital lease on its office building is the leased property and improvements. The collateral for the District’s capital leases on Furniture and Equipment is the folder/inserter mail machine and production printers. ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND ASSESSMENTS The District’s annual budget is driven by two basic factors, its needs and requirements to efficiently and effectively carry out its lawfully-mandated responsibilities in establishing fair market values for real and business personal property in Tarrant County, Texas and the financial condition and wherewithal of the taxing entities which financially support the District. It was on this basis that the District’s FY 2015 budget was prepared and ultimately adopted. It includes the following:  



$21,507,531 in proposed General Fund expenditures, representing a 2.13% overall increase in proposed expenditures when compared with the FY 2014 budget; Funding for: o 4.0% overall employee merit pay adjustments; o The continued contract use of updated Pictometry digital aerial images; o The purchase of replacement laptops and additional cost of offices supplies; o Escalating group medical insurance costs and potential postal rate hikes; Anticipated total revenues of $21,507,531, of which $21,082,331 or 98.0% is forecast to come from taxing entity assessments and the balance from a combination of interest earnings, data sales, Tarrant County 9-1-1 District payments (for use of Pictometry products), rendition penalty payments, and use of contingency reserve resources.

REQUEST FOR INFORMATION This financial report is designed to provide the citizens, taxpayers, customers, supporting taxing entities, creditors, and Tarrant Appraisal District Board of Directors with a general overview of the Districtâ&#x20AC;&#x2122;s finances and to show the Districtâ&#x20AC;&#x2122;s accountability for the money it receives. If you have questions about this report or need additional financial information, please contact the Administration Department at the Tarrant Appraisal District, 2500 Handley-Ederville Road, Fort Worth, Texas 76118-6909. Respectfully submitted,

Jeff Craig Director of Administration

TARRANT APPRAISAL DISTRICT STATEMENT OF NET POSITION DECEMBER 31, 2014

Primary Government Governmental Activities ASSETS Deposits Prepaid items Capital assets Land Software in progress Other capital assets, net of accumulated depreciation

$ 10,390,281 473,539 301,409 1,851,912 839,155 13,856,296

TOTAL ASSETS LIABILITIES Accounts payable Accrued liabilities Noncurrent liabilities Due within one year Due in more than one year

1,198,223 5,491,776

TOTAL LIABILITIES

7,539,882

DEFERRED INFLOWS OF RESOURCES

2,691,051

244,017 605,866

NET POSITION Net investment in capital assets Restricted for software purchase Restricted for building maintenance Restricted for technology Unrestricted deficit

2,939,181 1,642,768 200,000 150,000 (1,306,586) $

TOTAL NET POSITION

The Notes to Basic Financial Statements are an integral part of this statement.

3,625,363

TARRANT APPRAISAL DISTRICT STATEMENT OF ACTIVITIES YEAR ENDED DECEMBER 31, 2014

Net (Expenses) Revenue and Changes in Program Revenues

Program Activities

Net Position

Fees, Fines

Operating

Capital Grants

and Charges

Grants and

and

Expenses

for Services

$ 20,619,770

$ 21,148,611

Governmental

Contributions Contributions

Activities

GOVERNMENTAL ACTIVITIES Appraisal services Interest on long-term debt

4,204

TOTAL PRIMARY GOVERNMENT

20,623,974

21,148,611

$ 20,623,974

$ 21,148,611

Total governmental activities

528,841

524,637

(4,204)

General revenues Interest income

18,884 Total general revenues

18,884

Change in net position

543,521 3,081,842

Net position - beginning of year Net position - end of year

The Notes to Basic Financial Statements are an integral part of this statement.

3,625,363

TARRANT APPRAISAL DISTRICT BALANCE SHEET â&#x20AC;&#x201C; GOVERNMENTAL FUND DECEMBER 31, 2014

General Fund ASSETS Deposits Prepaid items

$ 10,390,281 473,539 10,863,820

TOTAL ASSETS LIABILITIES Accounts payable Accrued liabilities

244,017 605,848 849,865

Total liabilities DEFERRED INFLOWS OF RESOURCES

2,691,051

FUND BALANCES Nonspendable for prepaid items Committed for software purchase Committed for technology Committed for building maintenance Unassigned

473,539 1,642,768 150,000 200,000 4,856,597 7,322,904

Total fund balances TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES

The Notes to Basic Financial Statements are an integral part of this statement.

$ 10,863,820

TARRANT APPRAISAL DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUND BALANCE SHEET TO THE STATEMENT OF NET POSITION DECEMBER 31, 2014

Total fund balances - governmental fund

7,322,904

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 governmental fund balance sheet.

2,992,476

Long-term liabilities, including capital lease obligations, other postemployment benefits and compensated absences are not due and payable in the current period and therefore are not reported in the fund financial statements.

(6,689,999)

Interest payable on long term debt does not require current financial resources, therefore interest payable is not reported as a liability in the governmental fund balance sheet.

(18)

Net position of governmental activities

The Notes to Basic Financial Statements are an integral part of this statement.

3,625,363

TARRANT APPRAISAL DISTRICT STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE GOVERNMENTAL FUND YEAR ENDED DECEMBER 31, 2014

General Fund REVENUES Assessments Less refunds

$ 20,669,173 (600,457) 20,068,716

Interest income 911 district contract payment Rendition penalty payments Sale of public information materials and miscellaneous income

18,884 150,000 131,359 798,536 21,167,495

Total revenues EXPENDITURES Current Appraisal services Salaries and related benefits Materials and supplies Professional services Rents and leases Utilities Postage Repairs and maintenance Printing Software fees Other Debt service Principal retirement Interest charges Capital outlay

16,572,903 164,722 1,968,341 10,177 242,711 368,999 139,119 14,987 356,722 154,595 18,820 4,210 1,016,124 21,032,430

Total expenditures

135,065

Excess of revenues over expenditures

7,187,839

FUND BALANCE, beginning of year $

FUND BALANCE, end of year

The Notes to Basic Financial Statements are an integral part of this statement.

7,322,904

TARRANT APPRAISAL DISTRICT RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE OF THE GOVERNMENTAL FUND TO THE STATEMENT OF ACTIVITIES YEAR ENDED DECEMBER 31, 2014

Net change in fund balance - total governmental fund

135,065

Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount of capital assets recorded in the current period.

1,016,123

Depreciation expense on capital assets is reported in the statement of activities, but does not require the use of current financial resources. Therefore, depreciation expense is not reported as expenditures in the governmental funds.

(205,170)

Current year long-term debt principal payments on capital leases are expenditures in the fund financial statements, but are shown as reductions in long-term debt in the government-wide financial statements.

18,820

Current year changes in accrued interest payable do not require the use of current financial resources; therefore, are not reported as expenditures in governmental funds.

Current year changes in long-term liability for compensated absences and other postemployment benefits do not require the use of current financial resources; therefore, are not reported as expenditures in governmental funds. Change in net position of governmental activities

The Notes to Basic Financial Statements are an integral part of this statement.

(421,323) $

543,521

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General The Act creating the Tarrant Appraisal District (the District) was enacted as a provision of the Property Tax Code by the 66th Texas State Legislature in 1979. The District is responsible for the appraisal of property subject to ad valorem taxation in Tarrant County, Texas. The District began operation on January 4, 1980. The District is governed by a board of five directors serving two-year terms, plus a sixth statutorily designated non-voting member who is the County Tax Assessor-Collector. The directors are appointed by a vote of the taxing entities within Tarrant County. Reporting Entity For financial reporting purposes, management has considered all potential component units. The decision to include a potential component unit in the reporting entity was made by applying the criteria set forth in U.S. Generally Accepted Accounting Principles. The criteria used are as follows: Financial Accountability - The primary government is deemed to be financially accountable if it appoints a voting majority of the organization's governing body and (1) it is able to impose its will on that organization or (2) there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on, the primary government. Additionally, the primary government may be financially accountable if an organization is fiscally dependent on the primary government regardless of whether the organization has a separately elected governing board, a governing board appointed by a higher level of government or a jointly appointed board. There are no entities that are potential component units based upon the above criteria. Basis of Presentation The government-wide financial statements (the statement of net position and the statement of activities) report information on all of the activities of the District. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. The statement of activities demonstrates the degree to which the direct expenses of a given program are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific program. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given program and 2) operating or capital grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Other items not properly included among program revenues are reported instead as general revenues. 16

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED Basis of Presentation – Continued Fund Financial Statements The District segregates transactions related to certain functions or activities in separate funds in order to aid financial management and to demonstrate legal compliance. Separate statements are presented for governmental and proprietary activities. These statements present each major fund as a separate column on the fund financial statements; all non-major funds are aggregated and presented in a single column. The District has no proprietary activities, or non-major funds. Governmental funds are those funds through which most governmental functions typically are financed. The measurement focus of governmental funds is on the sources, uses and balance of current financial resources. The District has presented the following major governmental fund: General Fund The General Fund is the main operating fund of the District. This fund is used to account for the acquisition and use of the District’s expendable financial resources and the related liabilities. The measurement focus is based upon determination of changes in financial position rather than upon net income determination. Measurement Focus/Basis of Accounting Measurement focus refers to what is being measured; basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurement made, regardless of the measurement focus applied. The government-wide statements are reported using the economic resources measurement focus and the accrual basis of accounting. The economic resources measurement focus means all assets and liabilities (whether current or non-current) are included on the statement of net position and the operating statements present increases (revenues) and decreases (expenses) in net total assets. Under the accrual basis of accounting, revenues are recognized when earned. Expenses are recognized at the time the liability is incurred. Governmental fund financial statements are reported using the current financial resources measurement focus and are accounted for using the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual; i.e., when they become both measurable and available. “Measurable” means the amount of the transaction can be determined and “available” means collectible within the current period or soon enough thereafter (sixty days) to be used to pay liabilities of the current period. Expenditures are recorded when the related fund liability is incurred. However, debt service expenditures, as well as expenditures related to compensated absences are recorded only when payment is due.

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES â&#x20AC;&#x201C; CONTINUED Measurement Focus/Basis of Accounting â&#x20AC;&#x201C; Continued Assessments and sales of public information materials are recognized under the susceptible to accrual concept. Interest income is recorded as earned, since it is measurable and available. Budgetary Data The District uses the following procedures in establishing the budget reflected in the basic financial statements: 1. Prior to September 15, the Board of Directors is presented with a proposed budget for the fiscal year beginning on the following January 1. The budget includes proposed expenditures and the means of financing them. The budget also serves as a basis for determining the annual assessments due from the taxing jurisdictions. The budget is legally enacted through passage of a resolution. 2. Public hearings are conducted to obtain citizen's comments. 3. An annual budget is legally adopted for the General Fund. The budget is adopted on a basis consistent with accounting principles generally accepted in the United States of America. 4. The Chief Appraiser is authorized to transfer amounts between departments within the General Fund; however, revisions that alter total General Fund expenditures must be approved by the Board of Directors and the taxing jurisdictions. The fund level is the legal level of budgetary control. Appropriations lapse at year-end. 5. Budgeted amounts presented in the budgetary comparison schedule are as originally adopted by the Board of Directors on August 23, 2013. On December 31, 2014, supplementary appropriations were approved by the Board of Directors. Assessments If the District accumulates unassigned excess funds, the Board of Directors may refund the excess to the taxing entities. In addition, state law requires the District to credit the taxing entities for the excess of their payments over the amount actually spent or obligated to be spent during the fiscal year for which payments were made. During the year ended December 31, 2014, the District refunded $600,457.

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES â&#x20AC;&#x201C; CONTINUED Capital Assets Capital assets, which include land, buildings and improvements, furniture and equipment and computers and software, are reported in the government-wide financial statements. All capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated assets are valued at their fair market value on the date donated. Repairs and maintenance are recorded as expenses. Renewals and betterments are capitalized. Assets capitalized have an original cost of $5,000 or more and over one year of useful life. Depreciation has been calculated on each class of depreciable property using the straight-line method. Estimated useful lives are as follows:

Buildings and improvements Furniture and equipment Computers and software

3 - 20 years 3 - 5 years 3 - 5 years

Capital Lease Obligations Assets acquired under the terms of capital leases are capitalized in the government-wide statement of net position at the present value of net minimum lease payments at inception of the lease. In the year of acquisition, these obligations/assets are recorded as other financing sources and as expenditures in the General Fund. Lease payments representing both principal and interest are recorded as expenditures in the General Fund when due, with appropriate reductions of principal recorded in the governmentwide statement of net position. Compensated Absences All full-time employees are granted vacation and sick leave benefits in varying amounts. Salaried employees earn compensatory time for overtime worked. In the event of termination, an employee is entitled to receive accumulated vacation pay and vested accumulated sick pay in a lump sum cash payment. Salaried employees are entitled to receive accumulated compensation pay in a lump sum payment upon termination. Accumulated vacation pay and vested sick pay for all full-time employees and compensatory pay for salaried employees are recorded in the government-wide statement of net position. Prepaid Items Prepaid balances are for payments made by the District in the current year to provide services in the subsequent fiscal year. The District uses the consumption method to account for prepaid items.

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES â&#x20AC;&#x201C; CONTINUED Net Position Net position represents the difference between assets and liabilities. Net investment in capital assets consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowing used for the acquisition, construction or improvement of those assets, and adding back unspent proceeds. Net position is reported as restricted when there are limitations imposed on their use either through the enabling legislation adopted by the District or through external restrictions imposed by creditors, grantors or laws or regulations of other governments. Fund Balance Classification Policies and Procedures For committed fund balances, the Districtâ&#x20AC;&#x2122;s highest level of decision-making authority is the Board of Directors. The formal action that is required to be taken to establish a fund balance commitment is approval by the Board of Directors. When an expenditure is incurred for which both restricted and unrestricted fund balance is available, management first applies unrestricted resources, unless the individual expenditure exceeds the amount of unrestricted resources budgeted for that item. Similarly, management applies unassigned and assigned amounts before applying committed amounts when an expenditure is incurred for which amounts in any of these unrestricted fund balance classifications could be used. This minimizes the need for frequent changes to fund balance. At December 31, 2014, the committed fund balance in the general fund is made up of $1,642,768 for the future purchase of appraisal software, $150,000 for technology and $200,000 for future building maintenance. New Accounting Pronouncements The GASB issued Statement No. 68, Accounting and Financial Reporting for Pensions, which will be effective for periods after June 15, 2014. The objective of this Statement is to improve accounting and financial reporting of state and local governmental pension plans. The Statements applies to all state and governmental entities and replaces Statements 27 and 50. The District will evaluate the impact of the standard on its financial statements and will take the necessary steps to implement it. NOTE 2. DEPOSITS The components of the District's deposits at December 31, 2014, are as follows:

Cash Money market funds Certificates of deposit

2,283,761 6,614,520 1,492,000

$ 10,390,281 20

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 2. DEPOSITS – CONTINUED Custodial Credit Risk Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. At December 31, 2014, the carrying amount of the District’s cash on hand and deposits were $10,390,281 and the bank balance was $10,878,473. Of the bank balance, $2,250,000 was covered by federal depository insurance, while the remaining $8,628,473 was secured with securities held by the pledging financial institution’s trust department or agent in the District’s name. Statutes of the State of Texas and policies mandated by the District Board of Directors authorize the District to invest in certificates of deposit and money market funds issued by federally insured banks or savings and loans in Tarrant County, and obligations of the U.S. Treasury. During 2014, the District invested only in certificates of deposit and money market funds.

NOTE 3. CAPITAL ASSETS Balance December 31, 2013 Governmental activities Capital assets not being depreciated Land $ Software in progress Total capital assets not being depreciated Capital assets being depreciated Building and improvements Furniture and equipment Computers and software Total capital assets being depreciated Less accumulated depreciation Building and improvements Furniture and equipment Computers and software Total accumulated depreciation Total capital assets being depreciated, net Governmental activities capital assets, net

301,409 980,589

Additions

301,409 1,851,912

1,281,998

871,323

2,153,321

3,069,183 367,325 3,214,875

144,800 -

3,213,983 367,325 3,214,875

6,651,383

144,800

6,796,183

2,306,642 255,294 3,189,922

159,156 30,926 15,088

2,465,798 286,220 3,205,010

5,751,858

205,170

5,957,028

(60,370)

839,155

899,525 $

871,323

Retirements

Balance December 31, 2014

2,181,523

810,953

2,992,476

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 4. LONG-TERM DEBT The following is a summary of long-term debt transactions of the District for the year ended December 31, 2014: Balance

Balance

Due

Beginning

End

Within

of Year

One Year

of Year

Increase

Decrease

Governmental type activities Capital leases

72,115

18,820

53,295

20,117

Other postemployment benefits Compensated absences Total governmentwide activities

4,641,024

381,837

1,574,357

1,511,291

1,471,805

1,613,843

5,022,861

1,178,106

$ 6,287,496

$ 1,893,128

$ 1,490,625

$ 6,689,999

$ 1,198,223

The District is obligated under capital leases for printers, and a mail folder/inserter machine. The District has the option to purchase the mail folder/inserter machine and printers. Amortization of assets under capital lease is included in depreciation expense. At December 31, 2014, the net costs of leased assets are as follows:

Printers and mail machine (accumulated depreciation of $49,115)

49,131

The aggregate annual maturities for capital leases for years subsequent to December 31, 2014 are as follows:

Principal 2015 2016 2017

Governmental Activities Interest

Total

20,117 21,516 11,662

2,913 1,513 216

23,030 23,029 11,878

53,295

4,642

57,937

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 5. EMPLOYEES' RETIREMENT SYSTEM Plan Description The District provides retirement, disability, and death benefits for all of its full-time employees through a nontraditional defined benefit pension plan in the statewide Texas County and District Retirement System (TCDRS). The Board of Trustees of TCDRS is responsible for the administration of the statewide agent multiple-employer public employee retirement system consisting of 641 nontraditional defined benefit pension plans. TCDRS in the aggregate issues a comprehensive annual financial report (CAFR) on a calendar year basis. The CAFR is available upon written request from the TCDRS Board of Trustees at P.O. Box 2034, Austin, Texas 78768-2034. The plan provisions are adopted by the governing body of the District, within the options available in the Texas state statutes governing TCDRS (TCDRS Act). Members can retire at ages 60 and above with 8 or more years of service or with 30 years of service regardless of age or when the sum of their age and years of service equals 75 or more. A member is vested after 8 years, but he/she must leave his/her accumulated contributions in the plan to receive any employer-financed benefit. If a member withdraws his/her personal contributions in a lump sum, he/she is not entitled to any amounts contributed by the employer. Benefit amounts are determined by the sum of the employee’s contributions to the plan, with interest, and employer-financed monetary credits. The level of these monetary credits is adopted by the governing body of the District within the actuarial constraints imposed by the TCDRS Act so that the resulting benefits can be expected to be adequately financed by the employer’s commitment to contribute. At retirement, death, or disability, the benefit is calculated by converting the sum of the employee’s accumulated contributions and the employer-financed monetary credits to a monthly annuity using annuity purchase rates prescribed by the TCDRS Act. Funding Policy The District has elected the annually determined contribution rate (ADCR) plan provisions of the TCDRS Act. The plan is funded by monthly contributions from both employee members and the employer based on the covered payroll of employee members. Under the TCDRS Act, the contribution rate of the employer is actuarially determined annually and was 13.89% for calendar year 2014. The contribution rate payable by the employee is the rate of 7% as adopted by the governing body of the District. The employee contribution rate and the employer contribution rate may be changed by the governing body of the District within the options available in the TCDRS Act.

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 5. EMPLOYEES' RETIREMENT SYSTEM – CONTINUED Annual Pension Cost For the District’s accounting year ended December 31, 2014 the annual pension cost for the TCDRS plan for its employees was $3,071,450 and the actual contributions were $3,071,450. The annual required contributions were actuarially determined as a percent of the covered payroll of the participating employees, and were in compliance with GASB Statement No. 50 parameters based on the actuarial valuation as of December 31, 2013, the basis for determining the contribution rate for calendar year 2014. The December 31, 2013 actuarial valuation is the most recent valuation. Actuarial Information Actuarial Valuation Date

12/31/2013

Actuarial Cost Method

Entry Age

Amortization Method

Level Percentage of Payroll, Closed

Amortization Period in Years

20.0

Asset Valuation Method

SAF: 5-year Smoothed Value ESF: Fund Value

Assumptions Investment Return Projected Salary Increases Inflation Cost of Living Adjustments

8.00% 4.90% 3.00% 0.00%

Schedule of Actuarial Liabilities and Funding Progress Actuarial Valuation Date

12/31/13

Actuarial Value of Assets

$41,794,113

Actuarial Accrued Liability

$46,669,721

Percentage Funded

89.55%

Unfunded Actuarial Accrued Liability (UAAL) Annual Covered Payroll

$4,875,608 $11,185,667

UAAL as a Percentage of Covered Payroll 24

43.59%

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 5. EMPLOYEES' RETIREMENT SYSTEM â&#x20AC;&#x201C; CONTINUED Schedule of Actuarial Liabilities and Funding Progress â&#x20AC;&#x201C; Continued

Net Pension Obligation (NPO) at the beginning of period

Annual Required Contribution (ARC) Interest on NPO Adjustment to the ARC Total annual pension cost Contributions made Increase in NPO

3,071,450 3,071,450 (3,071,450) -

NPO at the end of the period

Trend information for the past three years for TCDRS is as follows:

Accounting Year Ending 12/31/12 12/31/13 12/31/14

Annual Pension Cost (APC) $

2,414,862 2,229,484 3,071,450

Percentage of APC Contributed 100% 100% 100%

Net Pension Obligation $

The schedule of funding progress, presented as Required Supplementary Information immediately following the notes to the financial statements, presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits.

NOTE 6. OTHER POSTEMPLOYMENT BENEFITS Plan Description The District provides postemployment medical benefits to eligible retirees and dependents qualifying as one of the eligible classes of dependents as described in the Plan provisions. To be eligible for coverage under the Plan, an employee must retire with the District and be eligible for retirement through the Plan provisions. Employees can retire at ages 60 with 8 or more years of service or with 30 years of service regardless of age or when the sum of their age and years of service equals 75 or more.

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 6. OTHER POSTEMPLOYMENT BENEFITS – CONTINUED Plan Description – Continued Eligible retirees can elect to participate in the coverage provided by the District or receive a monthly payment from the District not to exceed a cap set by the Board of Directors. The Plan is a single-employer defined benefit healthcare plan administered by the Chief Appraiser, his/her successor, or his/her designee. Separate financial statements for the Plan are not issued, but rather are included in the financial statements of the District. Funding Policy and Annual OPEB Cost and Net OPEB Obligation The District’s annual other postemployment benefits (OPEB) cost is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement No. 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and to amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The District had its OPEB actuarial valuation performed for the fiscal year beginning January 1, 2013 as required by GASB. The District’s annual OPEB cost for the current year is as follows:

Annual required contribution Interest on OPEB obligation Adjustment to ARC

Annual OPEB cost (expense) end of year Net employer contributions

571,948 169,393 (264,961) 476,380 (94,543)

Increase in net OPEB obligation (NOO) Net OPEB obligation - as of beginning of the year

381,837 4,616,660

Net OPEB obligation (asset) - as of end of the year

4,998,497

Trend information for the past three years is as follows:

Accounting Year Ending 12/31/12 12/31/13 12/31/14

Annual OPEB Cost $

967,877 476,380 476,380

Percentage of OPEB Contributed 9.2% 19.8% 19.8%

Net OPEB Obligation $

4,243,823 4,616,660 4,998,497

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 6. OTHER POSTEMPLOYMENT BENEFITS – CONTINUED Funding Status and Funding Progress The funded status of the District’s retiree healthcare plan, under GASB Statement No. 45, as of December 31, 2014 is as follows: Actuarial Valuation

Date January 1, 2012 January 1, 2013 January 1, 2014

Acturial Value of Assets (a)

Discount Rate

4.00% 4.00% 4.00%

Actuarial Accrued Liability (AAL) (b)

Unfunded AAL (UAAL) (b - a)

$ 8,529,638 $ 4,806,975 * 4,806,975 *

8,529,638 4,806,975 4,806,975

Funded Ratio (a / b) -

Under the reporting parameters, the District’s retiree healthcare plan is 0% funded with an estimated actuarial accrued liability exceeding actuarial assets by $4,806,975 at December 31, 2014. The annual covered payroll is $11,185,667 at December 31, 2014. The District had their last valuation done as of January 1, 2013 for the year ended December 31, 2013 and is not required to obtain another valuation until the year ending December 31, 2015. Actuarial Methods and Assumptions The Projected Unit Credit actuarial cost method is used to calculate the GASB ARC for the District’s retiree healthcare plan. Using the plan benefits, the present healthcare premiums and a set of actuarial assumptions, the anticipated future payments are projected. The Projected Unit Credit method then provides for a systematic funding for these anticipated payments. The yearly ARC is computed to cover the cost of benefits being earned by covered members, as well as to amortize a portion of the unfunded accrued liability. Projections of health benefits are based on the plan as understood by the District and include the types of benefits in force at the valuation date and the pattern of sharing benefits costs between the District and the District’s employees to that point. Actuarial calculations reflect a long-term perspective and employ methods and assumptions that are designed to reduce short-term volatility in actuarial accrued liabilities and the actuarial value of assets. The unit credit actuarial cost method is used over a closed period of 30 years; as such, salary scale was not one of the inputs. The assumed interest rate was 4%. The assumed medical inflation rate was 5.4% for 2014 and steadily declining to 4.5% for 2083 and thereafter; general inflation did not factor into the projections. Post-retirement benefits were expected to increase steadily from approximately $173,000 in 2014 to $420,000 in 2032. Projected salary changes did not factor into the projections. Actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability of events in the future. Amounts determined regarding the funded status and the annual required contributions of the District’s retiree healthcare plan are subject to continual revision as actual results are compared to past expectations and new estimates are made about the future. 27

TARRANT APPRAISAL DISTRICT NOTES TO BASIC FINANCIAL STATEMENTS

NOTE 6. OTHER POSTEMPLOYMENT BENEFITS – CONTINUED Actuarial Methods and Assumptions – Continued The required schedule of funding progress, presented as Required Supplementary Information immediately following the notes to the financial statements, provides multiyear trend information that shows whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits.

NOTE 7. LITIGATION The District and Appraisal Review Board are defendants in a number of property owner appeals pursuant to Chapter 42 of the State Tax Code. Such legal proceedings allege that the appraised values placed on taxpayers' properties are excessive. The potential liability to the District in each of these appeals is for recovery of attorney's fees and court costs. The District believes that any ultimate liability on these appeals will not materially affect its financial position. No provision for any liability that might result from these appeals has been recorded in the basic financial statements.

NOTE 8. RISK MANAGEMENT Third party insurance is currently maintained to cover significant claims or losses such as property loss, business interruption, general liability, workers’ compensation, and employee fidelity bond. The District changed providers during the year, but all coverage limits remained the same. At December 31, 2014, the District was participating in an intergovernmental self-insurance pool: the Texas Association Counties (TAC) Risk Management Pool for its general liability, workers’ compensation insurance, and professional liability insurance. The District had no significant reductions in insurance coverage for the year ended December 31, 2014. Settlement amounts have neither exceeded insurance coverage for the year ended December 31, 2014 nor for the preceding three years. The District’s coverage with TAC provides general liability coverage up to $1,000,000 per occurrence with a $25,000 deductible and professional liability insurance coverage up to $2,000,000 per occurrence with a $1,000 deductible. In addition to the aforementioned coverage, the District maintains third party group medical, dental, long-term disability and term life insurance for its active employees and group medical insurance or premiumequivalent payments for its eligible retirees.

REQUIRED SUPPLEMENTARY INFORMATION

TARRANT APPRAISAL DISTRICT SCHEDULE OF FUNDING PROGRESS FOR TEXAS COUNTY AND DISTRICT RETIREMENT SYSTEM DECEMBER 31, 2014 (Unaudited)

Unfunded Actuarial Accrued Liability Unfunded

as a

Actuarial

Annual

Percentage

Valuation

Value of

Accrued

Percentage

Accrued

Covered

of Covered

Date

Assets

Liability

Funded

Liability

Payroll

12/31/2011

36,032,777

42,256,536

85.27%

6,223,759

10,580,486

58.82%

12/31/2012

39,220,526

45,241,593

86.69%

6,021,067

11,022,939

54.62%

12/31/2013

41,794,113

46,669,721

89.55%

4,875,608

11,185,667

43.59%

The Schedule of Funding Progress summarizes the actuarial value of the plan’s assets and actuarial accrued liability as of December 31, 2013 and each of the two preceding calendar years. The data presented in the schedule were obtained annually from TCDRS and were based upon the annual actuarial valuation for the years represented. The District is financially responsible for its own portion of the plan. Therefore, the numbers shown above reflect only the condition of the District’s plan. The schedule is presented to provide a consistent basis for measuring the plan’s annual progress toward funding its actuarial accrued liability in accordance with its actuarial funding method. The primary measure of funding progress is the plan’s funded ratio (i.e. actuarial value of assets expressed as a percentage of the actuarial accrued liability). An increase in the funded ratio indicates improvement in the plan’s ability to pay all projected benefits as they come due. The plan is fully funded if the funded ratio is greater than or equal to 100%. During the year ended December 31, 2014, the plan’s funded ratio increased to 89.55%. The Schedule of Funding Progress also discloses the relationship between the plan’s covered payroll (i.e. all elements included in compensation paid to active members on which contributions are based) and the unfunded actuarial accrued liability (“UAAL”). This relationship, expressed as a ratio, is a measure of the significance of the UAAL relative to the capacity to pay all contributions required to fund the liability. During the year ended December 31, 2014, the plan’s ratio of the UAAL to its covered payroll decreased to 43.59%.

TARRANT APPRAISAL DISTRICT SCHEDULE OF FUNDING PROGRESS FOR OTHER POSTEMPLOYMENT BENEFITS DECEMBER 31, 2014 (Unaudited)

Actuarial Valuation Date

Actuarial Value of Assets

Actuarial Accrued Liability

Percentage Funded

Unfunded Actuarial Accrued Liability

Annual Covered Payroll

Unfunded Actuarial Accrued Liability As A Percentage of Covered Payroll

1/1/2012

8,529,638

0.00%

8,529,638

10,580,486

80.62%

1/1/2013

4,806,975 *

0.00%

4,806,975

11,022,939

43.61%

1/1/2014

4,806,975 *

0.00%

4,806,975

11,185,667

42.97%

The Schedule of Funding Progress summarizes the actuarial value of the plan’s assets and actuarial accrued liability as of January 1, 2014 and each of the two preceding calendar years. The data presented in the schedule were based upon the annual actuarial valuation for the years represented. The schedule is presented to provide a consistent basis for measuring the plan’s annual progress toward funding its actuarial accrued liability in accordance with its actuarial funding method. The primary measure of funding progress is the plan’s funded ratio (i.e. actuarial value of assets expressed as a percentage of the actuarial accrued liability). An increase in the funded ratio indicates improvement in the plan’s ability to pay all projected benefits as they come due. The plan is fully funded if the funded ratio is greater than or equal to 100%. During the year ended December 31, 2014, the plan was not funded. The District had their last valuation done as of January 1, 2013 for the year ended December 31, 2013 and is not required to obtain another valuation until the year ending December 31, 2015.

TARRANT APPRAISAL DISTRICT GENERAL FUND â&#x20AC;&#x201C; BUDGETARY COMPARISON SCHEDULE YEAR ENDED DECEMBER 31, 2014 (Unaudited)

Actual Amounts

Budgeted Amounts Original Final Revenues Assessments Less refunds

$ 20,669,173 -

20,669,173

20,068,716

10,000 150,000 150,000 75,000

18,884 150,000 131,359

8,884 (150,000) 56,359

5,200

798,536

793,336

21,059,373

21,167,495

108,122

16,178,733 294,936 2,312,451 10,175 281,491 550,428 190,828 45,672 528,373 100,000 324,784

16,572,903 164,722 1,968,341 10,177 242,711 368,999 139,119 14,987 356,722 154,595

(394,170) 130,214 344,110 (2) 38,780 181,429 51,709 30,685 171,651 100,000 170,189

49,751 4,751 187,000

49,751 4,751 633,500

18,820 4,210 1,016,124

30,931 541 (382,624)

21,059,373

21,505,873

21,032,430

473,443

Interest income 911 district contract payment Contingencies Rendition penalty payments Sale of public information materials and miscellaneous income Total revenues Expenditures Current Appraisal services Salaries and related benefits Materials and supplies Professional services Rents and leases Utilities Postage Repairs and maintenance Printing Software fees Contingencies Other Debt service Principal retirement Interest charges Capital outlay Total expenditures

$ 20,669,173 (600,457)

Variance With Final Budget Positive (Negative) $

600,457 600,457

Excess of revenues over expenditures

(446,500)

135,065

(311,435)

Use of committed funds

446,500

FUND BALANCES, beginning of year FUND BALANCES, end of year

7,187,839 $

7,187,839

7,187,839 $

Note: The basis of accounting for budgetary purposes is the same as GAAP.

7,187,839

7,187,839 $

7,322,904

135,065

INDIVIDUAL FUND SCHEDULES

TARRANT APPRAISAL DISTRICT GENERAL FUND â&#x20AC;&#x201C; SCHEDULE OF CERTIFICATES OF DEPOSIT DECEMBER 31, 2014

Issue Date Bank of Texas - Fort Worth, Texas Worthington National Bank - Fort Worth, Texas Northstar Bank - Texas BBVA - Texas EECU - Texas

10/19/2010 6/21/2010 5/11/2011 5/17/2011 10/31/2014

Maturity Date 4/13/2016 6/21/2015 2/19/2015 5/17/2016 10/31/2015

Interest Rate 0.60% 0.35% 0.45% 2.03% 1.15%

Principal Amount $

248,000 248,000 500,000 248,000 248,000

$ 1,492,000

TARRANT APPRAISAL DISTRICT GENERAL FUND â&#x20AC;&#x201C; SCHEDULE OF EXPENDITURES BY DEPARTMENT YEAR ENDED DECEMBER 31, 2014

Residential Appraisal CURRENT Salaries and related benefits Salaries Employee benefits - pensions Employee benefits - insurance Auto allowances

Total salaries and related benefits Materials and supplies Office supplies Computer supplies Mapping supplies Janitorial supplies Total materials and supplies Professional services Legal fees and litigation charges Board of review fees Other

Personal Property Appraisal

Commercial and Special

2,453,738 738,974 373,221 206,203

Information Systems

2,590,223 763,155 379,223 261,261

$ 1,331,386 378,168 200,974 100,543

1,605,782 412,550 183,983 2,510

3,993,862

2,011,071

3,772,136

2,204,825

8,503 -

1,936 -

4,163 -

70,660 -

8,503

1,936

4,163

70,660

249,050

43,581

Total professional services

249,050

43,581

Rents and leases Building leases Furniture and equipment rental

100

Postage Repairs and maintenance Printing Software fees

6,296 1,772 145 -

4,738 3,098 55 -

2,166 3,454 580 -

3,219 59,606 355,942

Other Travel, training and tuition Reproduction costs Dues and subscriptions Advertising Insurance

6,804 4,706 -

6,050 5,494 -

13,044 44,334 -

8,738 1,993 -

11,510

11,544

57,378

10,731

Debt service Capital lease - principal retirement Capital lease - interest charges

Capital outlay

Total rents and leases Utilities Electricity Telephone Total utilities

Total other

Total expenditures

4,022,088

$ 2,281,492

3,839,877

2,748,664

Support Services

$ 1,144,558 310,874 214,170 2,510

Land Management

Appraisal Review Board

Administration

980,341 266,946 130,096 15,042

General Operations

130,952 357,572 132,273 3,104

Total

611,841 168,211 110,664 -

$ 11,855 -

10,860,676 3,396,450 1,724,604 591,173

1,672,112

890,716

11,855

1,392,425

623,901

16,572,903

1,549 -

237 1,220 -

3,942 -

7,541 -

21,993 28,068 14,910

120,524 28,068 1,220 14,910

1,549

1,457

3,942

7,541

64,971

164,722

47,040 14,023

255,206

7,456 507,780 -

38,315 2,399

650,894 152,597

743,705 507,780 716,856

61,063

255,206

515,236

40,714

803,491

1,968,341

9,309 768

9,309 868

10,077

10,177

93,675 149,036

242,711

33,529 16,454 920 -

4,841 780

120,148 2,871 4,636 -

3,042 480 525 -

195,861 46,543 8,126 -

368,999 139,119 14,987 356,722

5,409 194 8,757 -

305 1,163 47 -

7,933 25 -

11,120 2,763 1,615 124

4,024 2,642 17,311

59,403 5,187 62,198 10,372 17,435

14,360

1,515

7,958

15,622

23,977

154,595

18,820 4,210

1,016,124

$ 1,799,987

1,154,515

$ 666,646

$ 1,460,349

$ 3,058,812

21,032,430

THIS PAGE INTENTIONALLY BLANK

STATISTICAL SECTION (Unaudited)

TARRANT APPRAISAL DISTRICT STATISTICAL SECTION (Unaudited)

This section of the Tarrant Appraisal District’s Comprehensive Annual Financial Report is intended to serve as background context for the financial statements, note disclosures, and required supplementary information contained elsewhere in this report. Tarrant Appraisal District Financial Trends Tables 1 through 5 present multi-year financial data encompassing the District’s net position, General Fund balances, and revenues and expenditures. In reviewing this, it should be noted that the District is statutorily prohibited from incurring bonded indebtedness, with its only currently outstanding debt being a capital lease for its office building and a capital lease for machinery. Table 5 depicts the annual assessments or funds paid, pursuant to the Texas Property Tax Code, by the various taxing entities in Tarrant County to fund the District’s annual budget. Tarrant County Taxing Entity Trends Tables 6 through 8 provide multi-year financial data regarding appraised values, property tax rates, and property tax levies for each of the taxing entities the District serves. Demographic and Economic Information Tables 9 through 11 identify changes which have occurred, over time, in both the top ten property values and employers as well as county-wide population, school enrollment, per capita income, and other trends. Tarrant Appraisal District Operating Information Tables 12 through 14 contain information about the District’s staffing, workload, and capital assets. Tarrant Appraisal District Debt Information Table 15 provides information about the District’s only outstanding debt, a capital lease for an office building and a capital lease for a folder/inserter machine.

TARRANT APPRAISAL DISTRICT NET POSITION BY COMPONENT LAST TEN FISCAL YEARS (ACCRUAL BASIS OF ACCOUNTING) (UNAUDITED)

TABLE 1

(As Restated) 2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

$ 1,054,191

$ 1,660,882

$ 2,118,497

$ 2,109,408

$ 2,939,181

785,333

1,264,268

1,814,268

2,114,268

1,642,768

150,000

175,000

200,000

150,000

Governmental Activities Net Investment in Capital Assets

910,081

960,119

812,386

$ 1,089,958

$ 1,080,870

Restricted for Software Purchase

Restricted for Building Maintenance

Restricted for Technology Upgrade

Unrestricted (Deficit)

(191,697)

1,658,524

2,185,243

Total Governmental Activities Net Position (Deficit)

$ 2,035,977

$ 2,618,643

$ 2,997,629

898,261

(16,883)

809,066

$ 1,496,099

$ 1,811,281

$ 3,081,842

$ 3,625,363

Total Primary Government Net Position (Deficit)

$ 2,035,977

$ 2,618,643

$ 2,997,629

898,261

(16,883)

809,066

$ 1,496,099

$ 1,811,281

$ 3,081,842

$ 3,625,363

(1,030,458)

(1,579,051)

(2,421,484)

(1,466,834)

150,000

1,125,896

Source: Comprehensive Annual Financial Reports

(1,097,753)

(1,306,586)

TARRANT APPRAISAL DISTRICT CHANGES IN NET POSITION LAST TEN FISCAL YEARS (ACCRUAL BASIS OF ACCOUNTING) (UNAUDITED)

(As Restated) 2005

2006

2007

2008

Expenses Governmental Activities Appraisal services

14,703,257

Interest on long-term debt

15,400,736

15,805,824

18,225,314

167,217

100,200

87,786

75,394

14,870,474

15,500,936

15,893,610

18,300,708

Total Governmental Activities Expenses Total Primary Government Expenses

14,870,474

15,500,936

15,893,610

18,300,708

15,415,384

15,866,739

16,016,805

16,037,071

Program Revenues Governmental Activities Fees, fines, and charges for services Operating grants and contributions

Capital grants and contributuions

Total Governmental Activities Program Revenues

15,415,384

15,866,739

16,016,805

16,037,071

Total Primary Government Program Revenues Net Revenue (Expense)

15,415,384

15,866,739

16,016,805

16,037,071

544,910

365,803

123,195

(2,263,637)

Interest Income

112,838

216,863

255,791

Change in net position

657,748

582,666

378,986

1,378,229

2,035,977

2,618,643

Net position - beginning of year Net position (deficit) - end of year

2,035,977

Source: Comprehensive Annual Financial Reports

2,618,643

2,997,629

164,269 (2,099,368) 2,997,629 $

898,261

TABLE 2

2009

2010

2011

2012

2013

2014

$ 19,072,663

$ 17,727,120

$ 18,576,287

$ 19,517,045

$ 18,947,524

$ 20,619,770

62,224

48,351

33,722

22,158

8,545

4,204

19,134,887

17,775,471

18,610,009

19,539,203

18,956,069

20,623,974

$ 19,134,887

$ 17,775,471

$ 18,610,009

$ 19,539,203

$ 18,956,069

$ 20,623,974

$ 18,206,291

$ 18,588,347

$ 19,278,295

$ 19,825,981

$ 20,200,753

$ 21,148,611

18,206,291

18,588,347

19,278,295

19,825,981

20,200,753

21,148,611

$ 18,206,291

$ 18,588,347

$ 19,278,295

$ 19,825,981

$ 20,200,753

$ 21,148,611

(928,596)

668,286

286,778

1,244,684

524,637

13,452

13,073

18,747

28,404

25,877

18,884

(915,144)

825,949

687,033

315,182

1,270,561

543,521

(16,883)

809,066

1,496,099

1,811,281

3,081,842

898,261 $

812,876

(16,883)

809,066

1,496,099

1,811,281

3,081,842

3,625,363

TARRANT APPRAISAL DISTRICT FUND BALANCES â&#x20AC;&#x201C; GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS (MODIFIED ACCRUAL BASIS OF ACCOUNTING) (UNAUDITED)

2005

2006

2007

2008

General Fund Nonspendable for prepaid expenditures

39,482

132,196

20,844

38,700

Committed for software purchase

Committed for building maintenance

Committed for technology

Unassigned Total General Fund

2,425,917

2,953,598

3,598,951

2,126,424

$ 2,465,399

$ 3,085,794

$ 3,619,795

$ 2,165,124

Source: Comprehensive Annual Financial Reports

*For 2011, 2012, 2013, and 2014 the amounts included in reserved on this table have been classified as committed on the balance sheet for governmental funds due to the adoption of GASB54 in 2011.

TABLE 3

2009

2010

123,644 -

2011

331,445 785,333

2012

160,077

191,459

2013

224,356

2014

473,539

1,264,268

1,814,268

2,114,268

1,642,768

150,000

175,000

200,000

150,000

2,034,380

2,695,423

3,323,195

3,330,823

4,524,215

4,856,597

$ 2,158,024

$ 3,812,201

$ 4,897,540

$ 5,636,550

$ 7,187,839

$ 7,322,904

TARRANT APPRAISAL DISTRICT CHANGES IN FUND BALANCES â&#x20AC;&#x201C; GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS (MODIFIED ACCRUAL BASIS OF ACCOUNTING) (UNAUDITED)

Revenues Assessments Less refunds

2005

2006

2007

2008

$ 15,810,745 (839,767)

$ 16,679,879 (1,072,487)

$ 17,276,557 (1,529,193)

$ 17,918,738 (2,145,696)

14,970,978 112,838 125,000

15,607,392 216,863 125,000

15,747,364 255,791 125,000

15,773,042 164,269 125,000

288,192

97,741

127,719

128,960

31,214

36,606

16,722

10,069

15,528,222

16,083,602

16,272,596

16,201,340

11,059,148 142,751 1,478,697

11,567,933 149,769 1,497,187

12,418,065 136,282 1,102,853

13,411,866 143,960 1,521,593

517,101 14,649 138,280 303,445 134,821

462,569 12,718 157,732 343,356 198,494

478,638 12,119 198,191 353,192 207,811

457,503 10,892 221,957 398,444 186,734

Interest income 911 District contract payment Rendition penalty payments Sale of public information and miscellaneous income Total Revenues Expenditures Appraisal services Salaries and related benefits Materials and supplies Professional services Software fees Rents and leases Utilities Postage Repairs and maintenance Printing Contingencies Other Debt service Capital lease - principal retirement

30,592 218,098

30,872 190,537

25,833 191,913

44,355 200,000 203,700

420,162

321,640

228,233

240,630

Capital lease - interest charges Capital outlay

122,772 319,772

102,837 427,563

89,392 296,073

77,006 537,371

14,900,288

15,463,207

15,738,595

17,656,011

627,934

620,395

534,001

Total Expenditures Excess (Deficiency) of Revenues

(1,454,671)

Over (Under) Expenditures Other Financing Sources Capital lease proceeds Net Change in Fund Balances

627,934

620,395

534,001

($1,454,671)

Debt Service as a Percentage of Non-capital Expenditures

3.8%

Source: Comprehensive Annual Financial Reports

2.8%

2.1%

1.9%

TABLE 4

2009

2010

2011

2012

2013

2014

$ 18,533,157 (606,156)

$ 18,565,065 (293,283)

$ 19,315,813 (320,015)

$ 19,538,983 -

$ 19,888,857 -

$ 20,669,173 (600,457)

17,927,001

18,271,782

19,538,983

19,888,857

20,068,716

13,452

13,073

18,747

28,404

25,877

18,884

150,000

109,591

138,581

125,710

127,544

154,465

131,359

19,699

27,984

6,787

9,454

7,431

798,536

18,219,743

18,601,420

19,297,042

19,854,385

20,226,630

21,167,495

14,140,203

13,477,609

14,223,669

15,164,729

15,174,395

16,572,903

177,903

140,304

148,221

173,253

162,225

164,722

1,756,427

1,643,454

1,666,229

1,801,630

1,834,303

1,968,341

377,313

346,167

331,670

423,157

403,015

10,177

11,648

11,706

12,335

10,255

10,253

242,711

210,087

211,217

196,729

215,294

246,586

415,092 174,580

341,745 171,280

270,821 181,649

266,397 125,758

270,243 136,221

368,972 139,110

30,770

39,698

25,028

46,264

19,340

200,000

15,023 356,722 -

191,391

142,809

147,388

154,532

166,772

154,595

253,701

267,481

282,010

305,871

172,256

18,820

63,924

50,143

35,614

24,120

9,586

4,210

223,804

103,630

708,840

483,863

70,146

1,016,124

18,226,843

16,947,243

18,230,203

19,195,123

18,675,341

21,032,430

1,654,177

1,066,839

659,262

1,551,289

135,065

18,500

79,748

(7,100)

18,995,798

(7,100)

1.8%

$ 1,654,177

1.9%

1,085,339

739,010

1.8%

1,551,289

1.0%

135,065

0.1%

TARRANT APPRAISAL DISTRICT ASSESSMENTS TO TAXING ENTITIES LAST TEN FISCAL YEARS (UNAUDITED)

TAXING ENTITY

2005

2006

2007

2008

SCHOOL DISTRICTS ALEDO ARLINGTON

4,643

1,942,250

1,935,896

1,840,296

AZLE

125,060

136,850

150,956

84,816

BIRDVILLE

600,862

622,092

622,473

606,971

BURLESON CARROLL CASTLEBERRY

445,968

470,871

470,380

1,587,187

77,180 448,391

37,527

39,678

39,214

34,460

CROWLEY

350,940

384,178

394,164

375,584

EAGLE MOUNTAIN/SAGINAW

338,904

395,788

457,693

463,351

66,858

71,993

71,040

75,614

1,859,039

1,962,264

1,969,220

1,738,638

EVERMAN FORT WORTH GODLEY

2,499

GRAPEVINE/COLLEYVILLE

900,345

917,475

866,040

800,296

HURST/EULESS/BEDFORD

763,941

783,472

746,138

663,925

KELLER

698,944

782,936

815,087

806,121

KENNEDALE

82,604

87,527

85,107

76,953

LAKE WORTH

52,310

58,624

65,215

70,798

LEWISVILLE MANSFIELD

576,154

NORTHWEST WHITE SETTLEMENT TOTAL SCHOOLS

660,440

703,660 -

9,007 679,693 271,929

90,436

82,116

120,535

119,536

8,932,142

9,392,200

9,417,218

8,997,592

715,250

CITIES ARLINGTON

628,209

642,737

659,190

AZLE

20,358

20,666

22,425

20,273

BEDFORD

68,320

77,419

78,140

82,766

BENBROOK

48,935

50,109

51,421

56,437

2,375

2,408

2,550

2,781

17,686

BLUE MOUND BURLESON COLLEYVILLE

56,929

60,892

64,718

75,207

CROWLEY

15,981

17,565

19,090

22,556

DALWORTHINGTON GARDENS

4,020

4,159

4,340

4,722

EDGECLIFF VILLAGE

2,783

2,991

3,016

3,297

67,969

69,016

72,691

76,978

6,883

7,106

7,370

8,011

3,023

19,635

20,651

21,532

23,563

1,478,636

1,591,510

1,784,474

2,001,274

EULESS EVERMAN FLOWER MOUND FOREST HILL FORT WORTH GRAND PRAIRIE GRAPEVINE HALTOM CITY

183,098

120,340

120,348

119,161

132,018 59,438

47,454

49,590

52,701

HASLET

6,366

6,874

7,714

8,547

HURST

61,466

65,493

69,179

76,821

KELLER

73,284

78,878

83,690

95,934

TABLE 5 (1 OF 2)

2009 $

8,515 1,569,242

2010 $

10,799 1,507,756

2011 $

11,926 1,574,159

2012 $

2013

11,194 1,528,003

11,584

2014 $

12,407

1,553,779

1,629,073 101,073

91,817

97,987

104,675

103,314

97,318

614,605

598,973

604,707

604,526

615,829

641,204

97,502

110,379

108,229

107,926

104,789

103,424

451,471

454,100

483,507

478,071

482,652

502,363

34,643

34,345

39,476

39,064

39,999

39,938

414,821

416,190

420,539

423,185

462,300

472,013

526,226

543,115

548,366

565,451

561,794

591,127

80,636

79,806

85,171

82,621

91,871

98,304

1,894,214

1,973,295

2,046,981

2,077,361

2,127,996

2,223,398

3,586

3,687

5,326

5,890

5,203

4,748

806,546

797,958

818,557

832,059

850,166

879,466

657,681

646,837

667,258

721,349

728,436

752,212

879,466

934,966

1,022,944

1,041,189

1,054,175

1,123,387

82,800

84,063

90,150

91,212

90,576

91,734

70,999

69,171

70,807

71,565

71,442

71,880

11,092

8,579

8,614

7,351

7,419

8,020

714,576

719,510

794,266

805,383

834,931

853,890

325,256

348,741

373,613

385,336

381,603

392,884

126,611

136,040

139,416

144,187

156,902

141,863

9,462,305

9,576,297

10,018,689

10,126,237

10,330,763

10,734,409

706,715

684,850

689,354

684,172

698,885

721,355

20,656

20,013

20,713

20,239

20,168

21,262

80,576

79,758

86,912

88,029

88,568

89,936

57,933

55,707

59,925

59,979

63,291

64,170

2,838

2,959

3,003

3,145

3,170

3,325

19,487

20,069

21,661

21,528

21,997

22,286

76,718

76,877

82,349

80,475

81,600

84,739

23,737

25,421

29,059

28,371

28,837

31,469

4,702

4,666

4,930

4,901

5,263

5,231

3,339

2,904

3,075

3,451

3,203

3,207

76,825

72,756

74,108

76,612

79,471

83,466

7,251

6,961

7,883

7,829

8,086

9,123

3,641

2,762

2,745

2,344

2,322

2,488

23,638

23,503

22,534

22,095

21,500

22,007

2,062,072

2,054,241

2,126,723

2,148,652

2,184,303

2,276,091

194,311

186,164

191,149

196,647

197,174

214,129

129,379

127,055

128,682

128,796

129,172

132,543

59,833

58,186

60,121

62,003

63,787

68,634

8,587

8,219

28,057

9,773

9,398

8,730

75,175

71,861

77,513

76,346

81,075

84,083

99,116

100,774

108,154

107,762

110,605

115,104

TARRANT APPRAISAL DISTRICT ASSESSMENTS TO TAXING ENTITIES LAST TEN FISCAL YEARS (UNAUDITED)

TAXING ENTITY

2005

2006

2007

2008

CITIES - CONTINUED KENNEDALE

15,163

16,049

17,054

19,981

LAKESIDE

1,128

1,232

1,540

1,710

LAKE WORTH

5,242

5,490

6,790

8,014

MANSFIELD

120,295

131,220

144,821

158,924

NORTH RICHLAND HILLS

111,427

115,394

118,021

127,787

PANTEGO

5,197

5,447

5,394

5,746

PELICAN BAY

1,080

1,325

1,355

1,409

10,698

10,884

11,253

12,033 11,170

RENO RICHLAND HILLS RIVER OAKS

132

9,294

9,743

10,282

ROANOKE

1,162

SAGINAW

26,819

28,773

30,663

32,399

SANSOM PARK SOUTHLAKE

2,468

2,658

2,946

3,275

105,103

111,522

121,818

138,670

TROPHY CLUB WATAUGA

2,054

34,021

35,282

35,235

37,184

WESTLAKE WESTOVER HILLS WESTWORTH VILLAGE

8,289

8,473

8,420

9,052

1,298

1,798

2,645

4,545

17,205

18,111

19,837

22,238

3,204,670

3,391,813

3,661,476

4,267,165

1,523,022

1,615,199

1,735,786

1,917,440

11,728

13,746

16,578

18,192

HOSPITAL DISTRICT

1,315,650

1,395,277

1,504,977

1,659,534

COLLEGE DISTRICT

785,154

831,796

896,063

1,004,538

37,240

39,848

44,462

50,551 -

WHITE SETTLEMENT TOTAL CITIES OTHER TARRANT COUNTY EMERGENCY SERVICES DISTRICT #1

REGIONAL WATER DISTRICT FRESH WATER SUPPLY DISTRICT

1,139

LIVE OAK CREEK MUD

TROPHY CLUB MUD

3,724

VIRIDIAN MGMT DISTRICT

TOTAL OTHER TOTAL ALL

3,673,933

3,895,866

4,197,866

4,653,979

$ 15,810,745

$ 16,679,879

$ 17,276,560

$ 17,918,736

TABLE 5 (2 OF 2)

2009

2010

2011

2012

2013

2014

21,028

22,364

23,255

24,210

23,888

25,220

1,834

1,952

2,377

2,334

2,327

2,380

7,993

9,849

11,211

10,699

10,947

11,026

167,144

165,260

179,101

181,065

186,448

195,181

128,560

124,133

128,185

126,167

137,905

143,306

5,730

5,503

5,614

6,055

6,147

6,265

1,321

1,339

1,740

1,499

1,481

1,500

189

149

167

182

191

195

12,114

12,259

17,967

17,639

17,464

18,483

11,078

11,080

11,448

11,331

11,332

11,553

2,092

2,145

1,883

1,924

1,805

1,899

31,151

31,244

33,647

35,008

34,959

38,458

3,579

3,653

3,932

4,277

4,271

4,374

145,307

145,767

155,358

153,696

158,393

164,240

2,195

2,129

2,413

2,374

2,323

2,508

36,021

34,592

35,271

34,809

34,881

35,179

7,974

8,781

7,959

8,379

9,358

9,251

9,865

10,616

10,831

10,996

4,281

4,535

4,647

4,409

4,707

5,251

21,065

24,101

21,468

23,204

23,087

23,732

4,348,569

4,297,011

4,486,173

4,493,428

4,583,221

4,773,503

1,944,069

1,929,513

1,989,634

1,993,474

2,016,376

2,087,270

21,149

24,092

23,775

23,276

21,630

23,935

1,683,909

1,673,892

1,718,705

1,722,619

1,743,607

1,807,396

1,017,467

1,008,286

1,038,200

1,120,354

1,133,306

1,179,425

52,088

51,838

53,293

53,789

54,516

56,717

498

772

1,129

1,494

1,977

3,507

3,639

3,537

3,061

2,261

2,416

1,617

1,683

2,126

4,722,281

4,691,758

4,827,916

4,919,319

4,974,873

5,161,262

$ 18,533,155

$ 18,565,066

$ 19,332,776

$ 19,538,983

$ 19,888,857

$ 20,669,173

TARRANT APPRAISAL DISTRICT APPRAISED VALUES BY TAXING ENTITIES LAST TEN FISCAL YEARS IN MILLIONS OF DOLLARS (UNAUDITED)

TAXING ENTITY

2005

2006

2007

2008

SCHOOL DISTRICTS ALEDO ARLINGTON

114

20,597

21,349

22,348

AZLE

1,691

1,965

2,265

1,503

BIRDVILLE

7,148

7,413

7,723

8,225

BURLESON CARROLL CASTLEBERRY

23,368

1,258

4,257

4,627

5,168

5,746

501

535

571

601

CROWLEY

4,200

4,618

5,036

5,385

EAGLE MOUNTAIN/SAGINAW

4,725

5,750

6,482

7,101

928

1,012

1,181

1,249

22,859

25,037

26,969

29,323

EVERMAN FORT WORTH GODLEY GRAPEVINE/COLLEYVILLE

10,152

10,453

11,647

80 11,688

HURST/EULESS/BEDFORD

8,404

8,820

9,153

9,746

KELLER

8,227

9,239

10,322

11,439

KENNEDALE

918

958

1,032

1,094

LAKE WORTH

594

718

824

838

LEWISVILLE

MANSFIELD

6,928

7,776

8,828

9,326

NORTHWEST WHITE SETTLEMENT TOTAL SCHOOLS

258

5,701

1,166

1,356

1,510

1,671

103,295

111,626

121,059

135,714

19,628

20,345

21,233

22,042

518

586

649

568

CITIES ARLINGTON AZLE BEDFORD

2,970

3,034

3,124

3,227

BENBROOK

1,215

1,290

1,392

1,557

BLUE MOUND BURLESON COLLEYVILLE

2,968

3,185

3,500

76 485 3,788

CROWLEY

506

588

669

745

DALWORTHINGTON GARDENS

268

284

300

320

EDGECLIFF VILLAGE EULESS EVERMAN

149

158

174

186

2,615

2,772

2,930

3,108

146

158

164

158

FLOWER MOUND

259

FOREST HILL

376

396

424

449

37,109

41,932

46,075

49,086

5,573

GRAPEVINE

6,416

6,426

7,020

7,300

HALTOM CITY

1,723

1,772

1,822

1,971

FORT WORTH GRAND PRAIRIE

507

589

654

699

HURST

HASLET

2,504

2,574

2,674

2,769

KELLER

3,050

3,358

3,697

4,054

TABLE 6 (1 OF 2)

2009 $

2010 147

2011 151

2012 145

2013 151

2014 159

182

25,655

24,017

24,286

24,763

25,873

26,984

2,005

1,996

1,987

1,891

1,907

1,943

8,846

8,303

8,346

8,555

8,754

9,156

1,547

1,466

1,457

1,412

1,406

1,498

6,294

6,169

6,234

6,398

6,646

7,067

659

593

594

599

604

627

5,973

5,624

5,731

5,798

5,841

6,162

7,922

7,409

7,609

7,645

8,037

8,651

1,368

1,279

1,270

1,320

1,329

1,330

34,471

33,521

34,561

35,879

36,974

38,278

108

100

14,967

14,201

14,014

14,196

14,621

15,344

10,728

10,315

10,378

10,554

10,886

11,491

12,528

12,552

12,813

13,097

13,642

14,580

1,197

1,143

1,192

1,184

1,215

1,295

945

911

930

936

952

1,002

236

225

133

121

128

10,271

10,104

10,469

10,711

10,934

11,641

6,584

5,900

6,507

6,547

6,409

7,107

1,872

1,788

1,862

2,001

1,828

1,982

154,300

147,766

150,626

153,857

158,235

166,548

24,564

23,236

23,404

23,898

24,639

25,775

648

625

617

610

622

639

3,421

3,285

3,334

3,395

3,457

3,578

1,665

1,645

1,667

1,745

1,763

1,812

534

520

544

556

559

610

4,069

4,013

4,040

4,092

4,232

4,419

864

830

819

818

853

885

341

333

337

359

356

361

175

178

205

194

187

185

3,833

3,534

3,568

3,658

3,808

4,004

158

141

142

148

145

150

273

262

170

158

166

165

441

407

404

407

414

442

56,422

54,348

56,414

58,091

59,734

63,253

5,666

5,315

5,646

5,669

6,156

6,560

9,906

9,445

9,263

9,361

9,650

10,141

2,132

1,973

1,972

1,999

2,021

2,101

784

708

729

710

717

806

2,987

2,817

2,807

2,839

2,911

3,018

4,374

4,315

4,395

4,506

4,669

4,950

TARRANT APPRAISAL DISTRICT APPRAISED VALUES BY TAXING ENTITIES LAST TEN FISCAL YEARS IN MILLIONS OF DOLLARS (UNAUDITED)

TAXING ENTITY CITIES - CONTINUED

2005

KENNEDALE

2006 408

LAKESIDE LAKE WORTH MANSFIELD NEWARK NORTH RICHLAND HILLS PANTEGO

2007 435

2008 487

540

102

114

302

375

429

443

3,390

3,772

4,254

4,360

3,733

3,860

4,929

4,294

263

275

288

304

PELICAN BAY RENO

RICHLAND HILLS

440

459

467

493

RIVER OAKS

215

228

238

249

ROANOKE

SAGINAW

1,005

1,118

1,236

SANSOM PARK SOUTHLAKE TROPHY CLUB WATAUGA

109 1,322

107

115

125

4,194

4,594

5,141

5,580

1,025

1,036

1,055

83 1,084

WESTLAKE

WESTOVER HILLS

312

332

351

406

WESTWORTH VILLAGE WHITE SETTLEMENT TOTAL CITIES

104

166

558

614

657

696

98,851

106,948

116,521

128,820

106,589

115,538

125,284

135,715

3,696

4,402

4,980

6,046

OTHER TARRANT COUNTY TARRANT COUNTY: EMERGENCY SERVICES DISTRICT #1 HOSPITAL DISTRICT

106,589

115,538

125,284

135,715

COLLEGE DISTRICT

106,589

115,538

125,284

135,715

36,474

48,589

40,952

44,721

FRESH WATER SUPPLY DISTRICT

REGIONAL WATER DISTRICT

104

LIVE OAK CREEK MUD

TROPHY CLUB MUD

272

VIVIDIAN MGMT DISTRICT

TOTAL OTHER TOTAL ALL

360,041 $

562,187

391,968 $

610,542

425,553 $

663,133

462,052 $

726,586

TABLE 6 (2 OF 2)

2009

2010

2012

2013

2014

622

585

616

617

630

646

123

120

122

126

471

444

454

464

460

480

4,854

4,789

4,985

5,254

5,403

5,778

4,567

4,390

4,419

4,532

4,677

4,934

310

296

294

297

295

300

517

484

454

484

487

499

275

251

253

252

256

266

125

100

102

110

1,403

1,305

1,388

1,391

1,479

1,582

128

118

116

114

116

124

6,140

6,020

6,090

6,280

6,524

6,956

1,130

1,073

1,068

1,064

1,072

1,124

1,021

1,026

1,091

1,210

1,228

1,257

437

464

478

491

513

530

258

251

233

253

271

284

752

662

712

875

716

818

146,592

140,513

143,541

147,198

151,609

159,884

154,314

147,782

150,625

153,865

158,238

166,550

7,720

7,285

7,093

6,677

5,976

6,628

154,314

147,782

150,625

153,865

158,238

166,550

154,314

147,782

150,625

153,865

158,238

166,550

56,160

53,940

55,848

57,414

58,941

62,049

162

161

155

314

300

295

291

304

146

527,306 $

2011

828,198

505,103 $

793,382

515,351 $

809,518

526,070 $

827,125

540,052 $

849,896

568,818 $

895,250

TARRANT APPRAISAL DISTRICT TAX RATES BY TAXING ENTITY LAST TEN FISCAL YEARS (PER $100 OF ASSESSED VALUE) (UNAUDITED)

TAXING ENTITY SCHOOL DISTRICTS ALEDO ARLINGTON

2005 $

2006 -

2007 -

2008 -

1.425200

1.745460

1.610000

1.278000

1.272000

AZLE

1.600000

1.524000

1.190000

BIRDVILLE

1.617000

1.565000

1.405000

1.410000

BURLESON

1.468800

CARROLL

1.935000

1.795000

1.465000

1.415000

CASTLEBERRY

1.669400

1.536000

1.203250

1.199750

CROWLEY

1.789000

1.671000

1.409850

1.535000

EAGLE MOUNTAIN/SAGINAW

1.634500

1.535000

1.330100

1.465800

EVERMAN

1.596000

1.466000

1.250000

1.360000

FORT WORTH

1.654000

1.514000

1.190000

1.257000

GODLEY

1.081800

GRAPEVINE/COLLEYVILLE

1.700000

1.574300

1.290000

HURST/EULESS/BEDFORD

1.723000

1.597590

1.303711

1.295453

KELLER

1.715800

1.608000

1.357400

1.416900

KENNEDALE

1.804252

1.720362

1.358610

1.488610

LAKE WORTH

1.843600

1.769900

1.535000

1.665000

LEWISVILLE MANSFIELD NORTHWEST WHITE SETTLEMENT

1.772000 -

1.687500 -

1.450000 1.466000

1.380000 1.450000 1.335000

1.790000

1.768000

1.498400

ARLINGTON

0.648000

AZLE

0.677700

0.656000

0.636000

0.631000

BEDFORD

0.446882

BENBROOK

0.742500

0.722500

0.697500

0.677500

BLUE MOUND

0.590000

0.580000

0.592500

0.645000

CITIES

BURLESON

0.000000

0.694000

COLLEYVILLE

0.347400

0.355900

CROWLEY

0.615352

0.575500

DALWORTHINGTON GARDENS

0.262739

EDGECLIFF VILLAGE

0.328408

0.318408

0.304112

EULESS

0.491777

0.489500

0.470000

EVERMAN

0.886599

0.854127

FLOWER MOUND

0.000000

0.449700

FOREST HILL

0.970000

0.950000

FORT WORTH

0.865000

0.860000

0.855000

GRAND PRAIRIE GRAPEVINE

0.000000

0.669998

0.362500

0.350000

HALTOM CITY

0.557600

0.566600

0.598300

HASLET

0.303250

0.290311

0.279164

HURST

0.499000

0.518000

0.535000

KELLER

0.444130

0.432190

TABLE 7 (1 OF 2)

2009 $

1.425200

2010 $

1.425200

2011 $

1.425200

2012 $

1.425200

2013 $

1.425200

2014 $

1.425200

1.272000

1.335000

1.305500

1.301000

1.292170

1.348110

1.190000

1.230000

1.203000

1.405000

1.425000

1.435000

1.540000

1.415000

1.400000

1.213300

1.453300

1.415500

1.399700

1.535000

1.670000

1.650000

1.465800

1.495800

1.530000

1.540000

1.360000

1.292500

1.277500

1.395000

1.490000

1.510000

1.322000

1.071481

1.122390

1.137090

1.128700

1.172752

1.195500

1.290000

1.310000

1.320100

1.295453

1.288189

1.414000

1.407500

1.387500

1.375000

1.486300

1.530600

1.540000

1.488610

1.544821

1.512068

1.492068

1.514717

1.670000

1.407870

1.426700

1.426000

1.453000

1.477000

1.450000

1.496000

1.540000

1.527100

1.355000

1.375000

1.452500

1.540000

0.648000

0.631000

0.063600

0.643800

0.649500

0.659500

0.668000

0.463348

0.491609

0.504329

0.499115

0.494830

0.657500

0.638000

0.680000

0.750000

0.694000

0.710000

0.690000

0.740000

0.355900

0.575500

0.640000

0.669019

0.696829

0.262739

0.294112

0.285934

0.294000

0.299000

0.305216

0.470000

0.467500

0.904127

1.105413

1.255205

0.449700

0.439000

1.060000

0.996054

0.855000

0.669998

0.350000

0.348000

0.345695

0.342500

0.332439

0.598300

0.646371

0.651740

0.671740

0.699990

0.267197

0.304645

0.320869

0.292785

0.535000

0.578000

0.608498

0.606000

0.442190

0.437190

TARRANT APPRAISAL DISTRICT TAX RATES BY TAXING ENTITY LAST TEN FISCAL YEARS (PER $100 OF ASSESSED VALUE) (UNAUDITED)

TAXING ENTITY

2005

2006

2007

2008

CITIES KENNEDALE

0.722500

0.722250

LAKESIDE

0.298000

0.298017

LAKE WORTH

0.313297

0.314029

0.318720

MANSFIELD

0.690000

0.710000

NORTH RICHLAND HILLS

0.570000

PANTEGO

0.398834

0.382880

0.373270

PELICAN BAY

0.898137

0.898499

0.000000

0.420000

RICHLAND HILLS

RENO

0.435898

0.442094

0.450670

0.459202

RIVER OAKS

0.782700

ROANOKE SAGINAW

0.510000

0.487000

0.000000

0.375120

0.456000

0.446000

SANSOM PARK

0.500000

0.535000

SOUTHLAKE

0.462000

TROPHY CLUB WATAUGA WESTLAKE

0.580763 -

0.000000

0.455510

0.580763

0.000000

WESTOVER HILLS

0.444910

0.420119

0.415570

0.388800

WESTWORTH VILLAGE

0.500000

WHITE SETTLEMENT

0.613000

0.613726

OTHER TARRANT COUNTY

0.272500

0.271500

0.266500

0.264000

EMERGENCY SERVICES DISTRICT #1

0.069350

0.069000

0.064000

HOSPITAL DISTRICT

0.235397

0.230397

0.227897

COLLEGE DISTRICT

0.139380

0.137960

REGIONAL WATER DISTRICT

0.020000

FRESH WATER SUPPLY DISTRICT

LIVE OAK CREEK MUD

TROPHY CLUB MUD

VIRIDIAN MUD

0.225000 -

TABLE 7 (2 OF 2)

2009

2010

2011

2012

2013

2014

0.722500

0.747500

0.323516

0.372940

0.379248

0.379260

0.428590

0.492512

0.466419

0.474411

0.482083

0.467828

0.710000

0.570000

0.610000

0.373270

0.410000

0.420000

0.898499

0.420000

0.453000

0.492700

0.499600

0.499900

0.473042

0.518012

0.551757

0.528094

0.820000

0.860000

0.853006

0.856519

0.850351

0.375120

0.449115

0.484000

0.480000

0.490000

0.510000

0.571627

0.627401

0.719518

0.737215

0.733655

0.704741

0.462000

0.470000

0.515000

0.530000

0.518543

0.499300

0.490000

0.580763

0.589001

0.591216

0.000000

0.160100

0.156840

0.156340

0.366739

0.351894

0.365806

0.360238

0.350500

0.347400

0.500000

0.492000

0.686037

0.742135

0.614715

0.670653

0.690660

0.264000

0.064000

0.080000

0.227897

0.137670

0.137640

0.148970

0.149500

0.020000

0.990000

0.205000

0.195000

0.175000

0.133390

0.448100

TARRANT APPRAISAL DISTRICT PROPERTY TAX LEVIES BY TAXING ENTITY IN THOUSANDS OF DOLLARS (UNAUDITED)

TAXING ENTITY SCHOOL DISTRICTS ALEDO ARLINGTON AZLE BIRDVILLE BURLESON CARROLL CASTLEBERRY

2005 $

2006 -

317,338

2007 -

304,981

2008 -

252,494

1,437 264,828

22,433

25,017

13,493

15,495

101,975

103,159

96,558

103,722

16,455

77,187

77,953

71,331

76,191

6,504

6,499

5,482

5,846

62,976

65,322

59,749

75,971

EAGLE MOUNTAIN/SAGINAW

64,879

75,851

73,711

88,807

EVERMAN

11,801

11,773

12,029

13,608

321,660

326,347

276,587

319,671

CROWLEY

FORT WORTH GODLEY

605

GRAPEVINE/COLLEYVILLE

150,395

143,523

127,313

136,114

HURST/EULESS/BEDFORD

128,429

123,653

105,619

110,992

KELLER

128,341

135,079

128,240

148,420

14,348

14,104

12,242

13,974

9,610

10,808

11,263

11,982

KENNEDALE LAKE WORTH LEWISVILLE MANSFIELD NORTHWEST WHITE SETTLEMENT TOTAL SCHOOLS

108,261

116,613

1,872

108,127

120,593

54,891

13,461

19,976

19,016

21,367

1,539,598

1,560,658

1,373,254

1,602,841

105,359

109,243

113,784

119,267

3,388

3,716

3,225

3,486

12,691

12,950

13,167

13,598 9,777

CITIES ARLINGTON AZLE BEDFORD BENBROOK

8,214

8,522

8,978

BLUE MOUND

395

423

442

479

BURLESON

3,289

COLLEYVILLE

9,982

10,725

11,964

12,947

CROWLEY

2,879

3,164

3,588

4,006

DALWORTHINGTON GARDENS

682

719

751

794

EDGECLIFF VILLAGE

490

500

525

563

11,313

12,047

12,246

12,965

1,165

1,221

1,274

1,224

3,385 260,885

EULESS EVERMAN FLOWER MOUND FOREST HILL FORT WORTH GRAND PRAIRIE GRAPEVINE

614

3,568

3,748

3,989

295,730

318,368

347,999

19,728

19,748

32,792

21,001

21,834

HALTOM CITY

8,129

8,734

9,456

10,098

HASLET

1,127

1,278

1,360

1,449

HURST

10,736

11,465

12,221

12,687

KELLER

12,930

13,869

15,261

16,727

TABLE 8 (1 OF 2)

2009 $

2010

1,858

2011

1,908

2012

1,840

2013

1,890

2014

2,018

2,350

259,518

251,881

251,144

253,530

264,942

16,865

16,749

16,981

15,879

16,438

289,739 16,841

103,096

96,759

99,360

100,485

104,281

109,576

18,998

17,318

17,739

17,098

16,820

18,329

78,160

77,366

78,576

78,754

81,701

87,805

5,911

6,317

6,421

6,527

6,495

6,783

71,635

67,291

69,555

75,433

76,765

80,861

93,482

87,744

92,938

91,668

96,137

104,767

13,736

13,628

13,580

14,991

15,988

16,433

339,647

327,538

341,437

347,225

361,599

377,077

634

852

968

849

772

909

137,346

130,977

136,758

138,721

143,031

149,916

111,335

106,768

118,561

118,859

122,335

129,588

160,928

163,681

171,131

172,009

182,701

197,889

14,469

14,425

14,992

14,779

14,919

16,203

11,905

11,330

11,763

11,657

11,690

12,529

1,476

1,378

1,208

1,211

1,304

1,335

123,843

127,091

132,373

136,235

138,871

148,600

60,026

59,782

63,334

62,266

63,896

70,659

23,415

22,308

23,698

25,602

23,072

25,207

1,648,283

1,603,091

1,664,357

1,685,668

1,745,775

1,863,396

117,877

110,304

112,451

114,037

117,317

122,613

3,444

3,314

3,327

3,291

3,458

3,605

13,728

13,907

14,468

14,452

14,627

15,177

9,588

9,858

10,327

10,436

10,756

509

481

517

541

584

3,454

3,466

3,538

3,589

3,624

4,223

13,232

13,177

13,227

13,315

13,781

14,449

4,375

4,650

4,663

4,705

5,118

5,433

803

789

805

859

851

859

500

492

567

523

522

533

12,523

11,858

12,592

12,967

13,574

14,386

1,198

1,261

1,287

1,319

1,484

1,556

475

439

385

379

405

403

4,045

3,606

3,632

3,508

3,579

3,648

353,580

340,297

353,154

356,412

370,169

393,884

32,042

30,586

32,321

32,173

34,825

37,362

21,870

20,590

21,169

21,077

21,556

21,790

10,015

9,620

10,191

10,408

11,162

11,688

1,414

4,489

1,606

1,533

1,420

1,655

12,369

12,403

12,548

13,229

13,675

14,228

17,345

17,306

17,712

18,047

18,720

19,753

TARRANT APPRAISAL DISTRICT PROPERTY TAX LEVIES BY TAXING ENTITY IN THOUSANDS OF DOLLARS (UNAUDITED)

TAXING ENTITY CITIES

2005

KENNEDALE

2006

2007

2008

2,631

2,826

3,179

LAKESIDE

202

255

272

3,549 310

LAKE WORTH

900

1,125

1,275

1,349

MANSFIELD

21,510

24,000

25,282

28,208

NORTH RICHLAND HILLS

18,916

19,559

20,329

21,696

PANTEGO

893

894

914

967

PELICAN BAY

217

224

223

RENO

RICHLAND HILLS

1,784

RIVER OAKS

1,597

1,865

1,914

2,044

1,704

1,777

1,870

ROANOKE

SAGINAW

4,717

5,082

SANSOM PARK

353

5,154

5,257

436

488

520

604

18,281

20,188

22,060

24,522

370

WATAUGA

5,784

5,839

5,915

6,079

WESTLAKE

1,389

1,395

SOUTHLAKE TROPHY CLUB

WESTOVER HILLS WESTWORTH VILLAGE

1,440

1,579

295

438

723

722

2,969

3,287

3,538

3,555

555,999

606,791

645,875

733,873

264,768

287,661

305,031

328,085

2,253

2,747

2,894

3,569

HOSPITAL DISTRICT

228,718

249,410

264,002

284,180

COLLEGE DISTRICT

136,350

148,499

159,804

171,710

6,532

7,368

8,042

8,790

LIVE OAK CREEK MUD

TROPHY CLUB MUD

592

VIRIDIAN MUD

WHITE SETTLEMENT TOTAL CITIES OTHER TARRANT COUNTY EMERGENCY SERVICES DISTRICT #1

REGIONAL WATER DISTRICT

TOTAL OTHER TOTAL ALL

638,621 $

2,734,218

695,685 $

2,863,134

739,773 $

2,758,902

796,926 $

3,133,640

TABLE 8 (2 OF 2)

2009

2010

2012

2013

2014

3,849

3,721

3,979

3,898

4,102

335

380

384

380

387

403

1,695

1,794

1,759

1,786

1,793

1,841

28,445

28,658

29,760

30,423

31,743

33,833

21,366

20,511

20,737

22,502

23,306

24,596

947

898

995

1,003

1,019

1,038

230

278

246

242

244

278

2,110

2,875

2,899

2,850

3,006

3,096

1,907

1,832

1,862

1,849

1,879

1,963

4,241

369

301

316

294

309

333

5,378

5,384

5,754

5,704

6,254

6,523

629

703

697

711

746

25,090

24,859

25,262

25,845

26,711

26,957

366

386

390

379

408

430

5,954

5,644

5,721

5,691

5,721

6,032

1,276

1,443

1,299

1,363

1,406

1,592

1,579

1,745

1,767

1,788

1,834

780

743

725

768

854

909

4,148

3,435

3,814

3,767

3,860

4,553

739,601

717,833

738,542

747,842

776,334

819,628

332,112

318,362

327,649

329,011

339,460

358,794

4,146

3,804

3,826

3,529

3,893

4,419

288,144

275,010

283,131

284,504

293,943

310,855

173,548

166,123

184,142

184,921

191,814

203,042

8,922

8,527

8,841

8,895

9,224

9,746

123

185

244

321

402

626

566

503

369

393

266

275

346

617

808,543

811,748

839,394

888,268

807,498 $

2011

3,195,382

772,515 $

3,093,439

3,211,442

3,245,258

3,361,503

3,571,292

TARRANT APPRAISAL DISTRICT PRINCIPAL PROPERTY TAXPAYERS FISCAL YEARS 2005 AND 2014 (UNAUDITED)

FISCAL YEAR: 2014

TABLE 9

PERCENTAGE OF TOTAL TARRANT COUNTY

TAXPAYER

RANK

Oncor Electric Delivery Co LLC

XTO Energy Inc Walmart Real Estate Bus Trust/Stores

TAXABLE VALUE $

TAXABLE VALUE

996,541,431

0.74%

691,815,632

0.51%

474,104,104

0.35%

Cheasapeake Operating

472,698,380

0.35%

American Airlines Inc

415,466,631

0.31%

Barnett Gathering LP

400,981,515

0.30%

Bell Helicopter Textron Inc

368,852,302

0.27%

Devon Energy Prod Co

322,885,510

0.24%

General Motors LLC

305,558,069

0.23%

Opryland Hotel

252,604,271

0.19%

4,701,507,845

3.47%

TOTAL

FISCAL YEAR: 2005

PERCENTAGE OF TOTAL TARRANT COUNTY

TAXPAYER

RANK

TAXABLE VALUE $

TAXABLE VALUE

TXU Electric Delivery

831,870,983

0.84%

Southwestern Bell

543,295,213

0.55%

American Airlines Inc

457,699,736

0.46%

Opryland Hotel

294,334,545

0.30%

Albertsons Inc

254,106,622

0.26%

Wal-Mart Stores Texas LP

216,493,522

0.22%

CAE Simuflite Inc

179,428,518

0.18%

Textron Inc

178,588,708

0.18%

Alcon Laboratories Inc

175,258,683

0.18%

Grapevine Mills Ltd Prtnshp

164,625,000

0.17%

3,295,701,530

3.33%

TOTAL

Source: Tarrant Appraisal District

TARRANT APPRAISAL DISTRICT DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN FISCAL YEARS (UNAUDITED)

Fiscal Year

Tarrant County Population (1)

Tarrant County

Personal

Per Capita

Income (In Thousands) (2)

Personal Income (2)

55,513,808

TABLE 10

Tarrant County

Unadjusted

Total Outstanding

Public School Enrollment (3)

Unemployment Rate (4)

Debt Per Capita (5)

34,275

300,688

5.1%

2005

1,618,151

2006

1,668,541

61,138,590

36,642

309,399

4.8%

2007

1,717,435

INA

314,695

4.3%

2008

1,750,091

INA

319,848

4.9%

2009

1,807,750

INA

39,380

330,385

7.7%

2010

1,829,400

70,095,625

38,581

419,303 *

8.2%

2011

1,849,815

75,776,982

40,965

342,813 *

6.9%

264

2012

1,880,153

80,929,107

43,044

373,070 *

6.8%

242

2013

1,911,541

84,905,643

44,417

353,806

5.9%

222

2014

1,945,360

INA

341,536

4.0%

236

Sources: (1) U.S. Census Bureau (2) U.S. Department of Commerce Bureau of Economic Analysis (3) Texas Education Agency (4) US Bureau of Labor Statistics (5) TX Bond Review Board INA = Information Not Available *For split ISD's, entire school population included.

TARRANT APPRAISAL DISTRICT PRINCIPAL EMPLOYERS FISCAL YEARS 2005 AND 2014 (UNAUDITED)

TABLE 11

FISCAL YEAR: 2014

PERCENTAGE OF TOTAL

EMPLOYER (1)

NUMBER EMPLOYEES (1)

RANK (1)

TARRANT COUNTY EMPLOYMENT (2)

Lockheed Martin Aeronatics Company

12,700

1.32%

Texas Health Resources

12,418

1.29%

NAS FW Joint Naval Base

11,350

1.18%

Fort Worth Independent School District

11,000

1.14%

Arlington Independent School District

8,126

0.84%

Bell Helicopter

7,000

0.73%

City of Fort Worth

6,341

0.66%

JPS Health Network / John Peter Smith

6,000

0.62%

Cook Children's Health Care System

5,401

0.56%

JPMorgan Chase

5,000

0.52%

FISCAL YEAR: 2005

PERCENTAGE OF TOTAL

EMPLOYER (3)

NUMBER EMPLOYEES (3)

RANK (3)

TARRANT COUNTY EMPLOYMENT (2)

Lockhead Martin

16,800

2.07%

AMR Corporation/American Airlines Fort Worth Independent School District

14,608 10,366

2 3

1.80% 1.28%

Arlington Independent School District

7,831

0.96%

University of North Texas Texas Health Resources

7,719 7,422

5 6

0.96% 0.95%

D.R. Horton Inc City of Fort Worth

5,770 5,606

7 8

0.69% 0.60%

Bell Helicopter Textron SBC Southwestern Bell

4,900 4,443

9 10

0.91% 0.71%

Source: (1) Book of Lists 2014 / Fort Worth Edition (2) Texas Workforce Commission (3) Book of Lists 2005 / Fort Worth Edition

TARRANT APPRAISAL DISTRICT FULL-TIME EQUIVALENT APPRAISAL DISTRICT EMPLOYEES BY FUNCTION/PROGRAM LAST TEN FISCAL YEARS (UNAUDITED)

TABLE 12

Function/Program

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Appraisal

103

104

111

112

114

Support Services

Information Systems

Administration/General Operations

202

201

210

211

207

205

204

200

197

Total Source: Tarrant Appraisal District

TARRANT APPRAISAL DISTRICT OPERATING INDICATORS BY FUNCTION/PROGRAM LAST TEN FISCAL YEARS (UNAUDITED)

TABLE 13

2005

2006

2007

2008

2009

607,233 47,606 403,391

624,959 47,634 433,696

642,334 57,023 467,043

651,269 44,272 475,360

716,678 45,262 465,628

6,016 336,546 10,180 69,014 7,217 843 25,260 2 130 151 37 9 119

6,170 341,759 10,415 71,014 7,054 789 25,894 2 163 176 42 10 119

5,985 348,814 10,530 72,578 7,204 807 26,680 2 445 440 42 12 137

4,604 334,423 10,392 73,350 7,606 466 17,336 3 260 214 40 9 122

4,968 367,201 11,075 81,246 8,802 803 17,925 3 448 368 71 11 133

Appraisal Review Board final orders issued

16,322

15,571

15,701

27,064

37,887

Inbound exemptions-related customer calls

148,822

147,010

154,000

142,851

133,906

524 29 302 508 2,363 160,861 189,089

490 42 388 352 2,135 163,850 192,266

735 37 379 332 2,279 151,707 218,502

341 29 348 300 2,078 139,574 210,286

793 34 254 416 2,125 134,353 204,424

Function/Program Appraisal Real property and mineral lease accounts Business personal property accounts Value notices mailed Support Services Exemptions granted Agricultural deferrals Texas homestead Disabled veteran Over age 65 Disability Freeport inventory Charitable/non-profit Solar/wind power Abatements Historic site Scenic deferral Airport deferral Foreign trade zones Pollution control

Information Systems The work performed in this function/program area entails applications software development and maintenance, network and computer operations maintenance, data entry, document imaging, and geographic information systems. By and large, it does not readily lend itself to quantifiable measurement. Administration/General Operations Employment applications processed New hires/promotions processed Competitive bids/proposals/quotes obtained Purchase orders issued Accounts payable checks issued Inbound mail processed Outbound mail processed Source: Tarrant Appraisal District INA = Information Not Available * Change in policy requiring competitve bids from $1,000 to $3,000

TABLE 13

2010

2011

2012

777,290 45,601 466,740

876,535 46,030 412,718

$908,073 47,039 369,140

5,071 365,205 11,269 69,162 8,145 865 17,960 8 228 205 68 11 130

5,039 371,462 11,706 85,456 8,214 837 20,297 10 219 212 68 11 136

22,989

2013 $

2014

1,038,209 47,951 462,469

1,412,349 47,040 553,048

5,021 368,523 11,563 84,021 7,537 830 21,061 9 206 191 68 17 108

4,956 365,014 11,773 86,489 7,207 823 19,697 12 190 182 68 24 100

4,925 359,522 12,358 89,757 6,912 855 23,892 15 165 164 68 24 89

21,111

21,430

24,085

27,844

135,629

97,979

129,807

124,691

113,586

197 30 170 283 2,209 105,159 186,508

221 10 193 * 310 1,992 100,406 176,437

173 27 148 * 348 1,877 92,898 206,087

142 16 101 339 1,921 101,163 176,493

289 46 83 330 1,895 90,956 166,883

TARRANT APPRAISAL DISTRICT CAPITAL ASSETS STATISTICS BY FUNCTION/PROGRAM LAST TEN FISCAL YEARS (UNAUDITED)

Function/Program

TABLE 14

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Appraisal

Support Services

Folder/Inserter Machine

Production Printers

Information Systems Mainframe computer Administration/General Operations Office building

NA = Not Applicable

TARRANT APPRAISAL DISTRICT OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS (UNAUDITED)

TABLE 15

Governmental Activities Capital Lease

Fiscal Year 2005

2,045,767

Total Primary Government $

2,045,767

2006

1,724,127

2007

1,495,817

2008

1,255,187

2009

1,001,486

2010

734,005

2011

470,493

2012

244,370

2013

72,115

2014

53,295

Source: Comprehensive Annual Financial Reports