Page 1
GENERAL OFFICE COASTAL BEND DIVISIONFirst State Bank Bldg., Suite 206 400 Mann Street, Suite 1002
200 E. Nopal • P.O. Box 349 Corpus Christi, Texas 78401Uvalde. Texas 78802-0349 Tel: (361) 653-2110• Fax: (361) 653-2115
Tel: (830) 278-6810 Fax: (830) 278-2025
July 28, 2015
NUECES RIVER AUTHORITYBOARD OF DIRECTORS
Re: Financial Report and Report of Investment Officer
Ladies and Gentlemen:
The Texas Public Funds Investment Act requires a formal report to be presented to the governingbody by the Investment Officer, at least quarterly, covering specific subjects listed in the Act.This report is submitted to you, monthly.
Report of the Investment Officer of the Nueces River Authority Board of DirectorsDescribing the Authority’s Investment Position on
June 30, 2015
The Authority has the following broadly defined funds: a General Fund and a Leakey CapitalProject Fund.
GENERAL FUND
I. In vestment Strategy
Funds within the General Fund needed for operations require ultimate liquidity to allow theAuthority to meet its financial obligations and should be kept in demand deposits in federallyinsured institutions for safety of the principal. Marketability and yield are not issues with regardto these funds, however, as much of the funds as possible should be kept in interest bearingchecking accounts.
Unlike the investment of operating funds, the primary objective of investing the savings portionof the General Fund is to achieve maximum yield while investing for absolute security ofprincipal. These funds do not require as much liquidity and may be invested for longer periods.Approximately equal amounts should mature in 1,3,5,7 and 10 years, subject to advice of theAuthority’s professional investment manager who is Phillip Plant, Herndon Plant Oakley, Ltd.,Corpus Christi. Investments allowed include Certificates of Deposit, U.S. Treasuries. U.S.Agency backed obligations and Commercial Paper rated A-i or P-l or better. Investments inCommercial Paper shall be for no longer than 270 days. All of these investments are to be held tomaturity and, unless otherwise instructed by the Board of Directors, the principal is to bereinvested.
http://www.nueces-ra.org
Page 2
Included with this report is the June 2015 Account Statement from Herndon Plant Oakley, Ltd.This shows the book value, market value, maturity date, and yield of each security owned by theAuthority and the status of the money market account
2. Position as of Date of Report
The checking accounts with First State Bank of Uvalde and the money market portion of theAuthority’s investments with Herndon Plant Oakley, Ltd. make up the General Fund. TheHerndon Plant Oakley, Ltd. money market account exists only to cover investment expenses, ifand as needed.
The general checking account with First State Bank of Uvalde is used as the operating account forthe General Office and the Coastal Bend Division. In addition, there are two interest-earningchecking accounts with First State Bank of Uvalde. The “Super First Account” is the account inwhich as much of the Authority’s operating funds as possible are kept. The “SB 1 State Account”is the account into which funds from Texas Water Development Board are deposited to pay forregional water planning professional services on behalf of the Coastal Bend Regional WaterPlanning Group. The “SEP” (Supplemental Environmental Project) account containscontributions from entities that are fined by the Texas Commission on Environmental Quality forenvironmental permit violations and take the option of contributing to environmental protectionprojects in lieu of paying the fine. Such projects are to be conducted by NRA when sufficientfunds have been received.
Because funds on deposit at First State Bank of Uvalde usually exceed $250,000, the amount ofFDIC insurance available, the bank pledges securities to further secure the Authority’s funds.The par value of securities pledged at this report is $600,000. Funds on deposit at this reportamounted to $388,059.
LEAKEY CAPITAL PROJECT FUND
1. Investment Strategy
The Leakey Capital Project Fund is used to account for revenues and expenses related toconstruction of the Nueces River Authority Leakey Regional Wastewater System. In Fiscal Year2010, NRA was awarded a grant from Texas Water Development Board (TWDB) forapproximately $2,200,000 to be used for land acquisition related to the wastewater treatmentplant. That Land was acquired during fiscal year 2010. During fiscal year 2012, TWDB awardedNRA $11,043,460 in financial assistance consisting of a $9,961,460 loan, with up to 100%principal forgiveness, and a $1 ,082,000 grant to finance planning, design and construction costsfor the wastewater project. The loan funds were placed in a trust account under NRA’s name, butTWDB holds the rights to those funds and they are only distributed to NRA as the funds areexpensed. Funds from the grant, also, are only disbursed by TWDB to NRA as funds areexpensed. Accordingly, these funds are not under NRA’s investment control and are notconsidered as NRA banking deposits.
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This report is submitted in compliance with the NRA investment policy and the Texas PublicFunds In vestment Act (Chapter 2256, Government Code).
Executive DirectorInvestment Officer
Cc: Joel Perez, Jr., Padgett Stratemann & Co.
Con Mims
Page 4
Nueces River AuthorityBalance Sheet
As of June 30, 2015
Jun 30, 15
ASSETSCurrent Assets
Checking/SavingsDam Rauscher Cash/Money MarketFirst State Bank-CheckingFirst State Bank-SavingsFirst State Bank-SB1 State1008.00. First State Bank-SEP Contract
Total Checking/Savings
Accounts Receivable199.59. Due from Capital Project FundAccounts ReceivableAccrued Interest ReceivablePurchased Interest Receivable
Total Accounts Receivable
Total Current Assets
Other AssetsInvestments-Original CostAccumulated Accretion DiscountAccumulated Amort. of PremiumAccumulated Investment FeesInvestments-Valuation Allowance
Total Other Assets
TOTAL ASSETS
LIABILITIES & EQUITYLiabilities
Current LiabilitiesAccounts Payable
Accounts Payable
Total Accounts Payable
Other Current LiabilitiesDef Rev-SEP ContractDef Rev-Devils River ConservancDef Rev-Evergreen UWCD Special7106.00. Def Rev-Ed Rachal Foundation7105.00. Def Rev - Wintergarden GCD SpecDef Rev-Digital Riparian NetworDeferred Rev-Friend FundDeferred Rev.-GCD PoolDeferred Rev.-Educ ContributDeferred Rev.-SB1 -LocalDeferred Rev.-SB1-StatePayroll Liabilities
Total Other Current Liabilities
Total Current Liabilities
Total Liabilities
EquityRetained EarningsNet Income
Total Equity
TOTAL LIABILITIES & EQUITY
61679.284,502.34
364,103.0110,452.259,001.52
449,738.40
72,397.45238,320.57
4,915.006,036.96
- 321,669.98
771,408.38
1,177,375.716,379.75
8.0015.00
4,845.97
1,188,624.43
1,960,032.81
25,386.77
25,386.77
9,001.5238,437.643,990.293,666.59
12,413.639,552.567,035.04
26,384.419,155.03
27,908.5063,622.2417,540.70
228,708.15
254,094.92
254,094.92
1,720,938.32-15,000.43
1,705,937.89
1,960,032.81
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Page 5
NUECES RIVER AUTHORITYSTATUS OF CAPITAL ASSETS FOR FY2015
$ 2,547,117
Balance at
Land - Leakey
Furniture & Equipment
Total Capital Assets
Balance atAdditions Deletions June 30, 2015September 1, 2014
$ 2,336,749
136,437
$ 2,473,186
$ 73,931 $ - $ 2,410,680
-
- $ 136,437
$ 73,931 $ -
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Nueces River Authority
Revenues & Expenses - Combined OperationsJune 2015
Jun15 Sep14 - Jun15
IncomeContracts-City of CC 8,333.00 83,329.67Contracts-Clean Rivers Program 20,938.64 225,219.474500.09. Contracts-CRP Urban Riparian 3,092.60 3,092.60Contracts-LNRA 458.33 4,583.33Contracts-SB1 -Local Revenues 5,000.00 49,999.98Contracts-SB1 -State 7,427.97 210,432.684562.00. Contracts-TSSWCBIWPP 9,866.44 88,746.514563.00. Contracts-TSSWCBIWWP Contractua 0.00 27,881.974564.00. Contracts-San Miguel Creek 9,562.99 45,670.194500.15. Contracts-Petronila Creek 4,726.44 26,852.14Contracts-Choke Canyon 8,333.33 83,333.33Public Education Program 20,871.51 242,760.47Reimbursement-Audit 0.00 3,000.00Interest on Checking & MM Accts 67.52 801.77Interest on Invested Funds 2,678.64 24,007.57UNREALIZED Gain/Loss-lnvstmnts -3,453.42 -6,359.11
Total Income 97,903.99 1,113,352.57
ExpenseSalaries-Full Time 39,511.68 389,031.76Payroll Taxes-Full Time 3,022.65 30,002.82Employee Benefits-Med Insurance 4,382.42 42,930.44Employee Benefits-Retirement 2,549.98 26,039.73Director Fees of Office 0.00 2,800.00Payroll Taxes-Directors 0.00 214.20CRP Expenses 6,510.78 61,869.36CRP Urban Riparian 1,046.21 1,046.21Petronila Creek 2,011.81 6,860.52San Miguel Creek 484.77 667.03SB1-Local 149.30 5,380.188373.00. TSSWCB-WPP 890.30 6,081.948373.01 . TSSWCB-WPP Contractual 0.00 27,881.97Public Education Program Exp. 13,677.00 189,102.13Staff Travel & Conferences 1,338.55 15,012.91Directors Travel & Conferences 0.00 7,920.19Binding,Printing & Reproduction 152.89 2,194.36Dues & Subscriptions 50.00 2,562.92Insurance & Bonds 8,681.00 8,681.00Office Supplies 151.05 2,666.00Postage & Delivery 251 .33 -74.99Professional Services 8,302.97 240,274.76Rental of Equip & Facilities 3,476.11 34,473.70Repair & Maintenance of Equip 0.00 150.00Telephone & Fax 830.59 10,344.32Edwards Aquifer RIP 0.00 1,000.008345.00. SCTRWPG-Reg L 0.00 292.79Miscellaneous 0.00 2,047.84Special Project 1,845.98 10,898.91
Total Expense 99,317.37 1,128,353.00
Net Income -1,413.38 -15,000.43
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Nueces River Authority
Profit & Loss Budget vs. ActualSeptember 2014 through June 2015
Sep’14-Junl5 Budget
IncomeContracts-City of CC 83,329.67 99,996.00Contracts-Clean Rivers Program 225,219.47 265,612.004500.09 Contracts-CRP Urban Riparian 3,092.60 9,978.00Contracts-LNRA 4,583.33 5,500.00Contracts-SB1 -Local Revenues 49,999.98 60,000.00Contracts-SB1 -State 210,432.68 202,835.004562.00. Contracts-TSSWCB,WPP 88,746.51 120,681.004563.00. Contracts-TSSWCB/WWP Contr... 27,881 .97 29,982.004564.00. Contracts-San Miguel Creek 45,670.19 53,946.004500.15. Contracts-Petronila Creek 26,852.14 35,725.00Contracts-Choke Canyon 83,333.33 100,000.00Public Education Program 242,760.47 394,161.00Reimbursement-Audit 3,000.00 3,000.00Interest on Checking & MM Accts 801 .77 1,008.00Interest on Invested Funds 24,007.57 33,600.00UNREALIZED Gain/Loss-Invstmnts -6,359.11 0.00
Total Income 1,113,352.57 1,416,024.00
ExpenseSalaries-Full Time 389,031 .76 468,054.00Payroll Taxes-Full Time 30,002.82 35,998.00Employee Benefits-Med Insurance 42,930.44 51,695.00Employee Benefits-Retirement 26,039.73 31,390.00Director Fees of Office 2,800.00 6,300.00Payroll Taxes-Directors 214.20 500.00CRP Expenses 61,869.36 73,976.00CRP Urban Riparian 1,046.21 5,100.00Petronila Creek 6,860.52 8,305.00San Miguel Creek 667.03 2,682.00SB1 -Local 5,380.18 6,000.008373.00 TSSWCB-WPP 6,081.94 15,476.008373.01 . TSSWCB-WPP Contractual 27,881 .97 29,982.00Public Education Program Exp. 189,102.13 317,225.00Staff Travel & Conferences 15,012.91 16,774.00Directors Travel & Conferences 7,920.19 14,000.00Binding,Printing & Reproduction 2,194.36 2,353.00Dues & Subscriptions 2,562.92 3,600.00Insurance & Bonds 8,681.00 8,000.00Office Supplies 2,666.00 3,300.00Postage & Delivery -74.99 1,100.00Professional Services 240,274.76 234,835.00Rental of Equip & Facilities 34,473.70 42,078.00Repair & Maintenance of Equip 150.00 600.00Telephone & Fax 10,344.32 12,672.00Edwards Aquifer RIP 1,000.00 1,000.008345.00. SCTRWPG-Reg L 292.79 1,000.00Miscellaneous 2,047.84 2,400.00Special Project 10,898.91 18,630.00
Total Expense 1,128,353.00 1,415,025.00
Net Income -15,000.43 999.00
Page 1
Page 8
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vean
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clud
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ten
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t.W
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rmat
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inyo
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orif
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ts,
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stat
emen
t,in
clud
ing
the
posi
lion
san
dba
lanc
esin
your
acco
unt,
may
bedi
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edto
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stC
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ent
Ser
vic
esat
AT
TN
:H
0005
-087
,1
N.
Jeff
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St.
Lou
is,
MD
6310
3,(8
66)
786-
4879
.Al
lot
her
inqu
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sor
com
plai
nts
rega
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the
activ
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est.
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elo
ssof
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reat
ww
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rst
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For
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age
acco
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upto
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rst
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arin
gag
greg
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limit
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and
the
addi
tion
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dono
tin
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the
qual
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inve
stm
ents
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ains
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valu
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ecr
edit
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ree
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may
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busi
ness
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cord
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ws
and
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ssop
erat
ions
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bjec
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mit
men
tsin
any
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any
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risk
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fina
ncia
lsi
tuat
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NU
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NU
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NU
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NU
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Page 16
Pag
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NU
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Pag
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NU
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Page
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NU
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.13
Page 19
Pag
e10
of10
NU
EC
ES
RIV
ER
AU
TH
OR
ITY
HE
RN
DO
NP
LA
NT
OA
KL
EY
LT
DJU
NE
1,2
01
5-
JUN
E30
,20
15A
CC
OU
NT
NU
MB
ER
:10
79-1
168
Spe
cifi
cin
stru
ctio
ns
and
dis
closu
res
Inco
me
onn
on
-rep
ort
able
acco
unts
You
rin
com
esu
mm
ary
isca
tego
rize
din
tota
xabt
ean
dta
x-ex
empt
inco
me
base
dup
onth
ese
curi
ties
that
you
hold
.P
leas
ebe
awar
eth
at,
sinc
eth
isis
a10
99no
n-re
port
able
acco
unt,
this
inco
me
will
NO
Tbe
repo
rted
toth
eIR
S,bu
tis
bein
gpr
ovid
edto
you
for
info
rmat
iona
lpu
rpos
eson
ly.
Cal
labl
eb
onds
and
pre
ferr
edst
ock
Bon
dsan
dpr
efer
red
stoc
kth
atar
esu
bjec
tto
apa
rtia
lca
llw
illbe
sele
cted
byan
impa
rtia
llo
ttery
proc
ess
inw
hich
the
prob
abili
tyof
your
secu
riti
esbe
ing
sele
cted
for
rede
mpt
ion
ispr
opor
tion
alto
the
hold
ings
ofal
lsh
areh
olde
rsof
such
secu
riti
eshe
ldin
stre
etna
me.
IIa
secu
rity
isca
lled
prio
rto
mat
urity
itm
ayaf
fect
the
yiel
dyo
ure
ceiv
e.A
dditi
onat
info
rmat
ion
isav
aila
ble
atw
ww
.tirs
tcle
arin
clllc
.com
.
Cos
tba
sis
-T
oad
dor
upda
tein
form
atio
nor
mod
ify
your
report
ing
op
tio
ns,
ple
ase
conta
ctY
our
Fin
anci
alA
dv
iso
r.T
his
stat
emen
tpr
esen
tses
tim
ated
unre
aliz
edor
real
ized
gain
sor
loss
esfo
ryo
urin
form
atio
non
ly.
Ifac
quis
itio
nor
othe
rin
form
atio
nis
not
avai
labl
e,th
ega
in/l
oss
info
rmat
ion
may
not
bedi
spla
yed
and
sect
ion
and
sum
mar
yto
tals
may
not
refl
ect
your
com
plet
epo
rtfo
lioC
ost
basi
sin
form
atio
nis
not
veri
fied
byFC
Cor
You
rIn
trod
ucin
gFi
rman
dsh
ould
not
bere
lied
upon
for
lega
lor
tax
purp
oses
.R
evis
ions
toth
isin
form
atio
n(d
ueto
corp
orat
em
erge
rs,
tend
ers
and
othe
rre
orga
niza
tion
s)m
aybe
requ
ired
from
tim
eto
time.
Cos
tba
sis
for
fact
ored
bond
s(G
NM
A,
CM
O,
etc.
)w
illbe
adju
sted
for
payd
own
ofpr
inci
pal.
Sys
tem
atic
inve
stm
ents
inm
utua
lfu
nds
and
rein
vest
eddi
vide
nds
for
mut
ual
fund
san
dst
ocks
have
been
cons
olid
ated
for
each
posi
tion.
Uni
tco
stda
tafo
rsy
stem
atic
inve
stm
ents
and
divi
dend
rein
vest
men
tse
curi
ties
ispr
ovid
edfo
rin
form
atio
nal
purp
oses
only
and
isa
non-
wei
ghte
dav
erag
e.
You
rac
coun
tst
atem
ent
shou
ldno
tbe
used
for
tax
prep
arat
ion
with
out
assi
stan
cefr
omyo
urta
xco
nsul
tant
.W
edo
not
repo
rtca
pita
lga
ins
orlo
sses
for
non-
cove
red
secu
riti
esto
the
IRS.
Cos
tba
sis
opti
ons
Unl
ess
spec
ific
tax
lots
are
sele
cted
attr
ade
time,
sale
sof
tax
lots
will
occu
rus
ing
the
cost
basi
sel
ecti
onre
flec
ted
inth
eA
ccou
ntpr
ofile
sect
ion.
I HII11
11IIII
IIINI I
1HIIIH
III20
2C
CC
CCC
O4
