Texas Department of Banking Annual Financial Report: 2011 Page: 5
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UNAUDITED
NOTE 3: DEPOSITS, INVESTMENTS, AND REPURCHASE AGREEMENTS
The Department is authorized by statute to make investments following the "prudent person rule." There were no
violations of legal provisions during the period.
Deposits of Cash in Bank
Governmental Type Activities: As of August 31, 2011, the carrying amount of deposits was $193,118.32. This amount
consists of cash in local banks and the Texas Treasury Safekeeping Trust Company. The bank balance is not exposed to
custodial credit risks.
Fiduciary Fund Types: As of August 31, 2011, a portion of the Prepaid Funeral Guaranty Funds consisted of $246,088.84
in money market accounts and $750,000 in certificates of deposits at state banks.
Short Term Investments
Governmental Fund Type: As of August 31, 2011, the Department had $4,953,532.65 in overnight repurchase agreements
with the Texas Treasury Safekeeping Trust..
Fiduciary Fund Type: As of August 31, 2011, a portion of the Prepaid Funeral Guaranty Fund consisted of $303,289.11 in
overnight repurchase agreements with the Texas Treasury Safekeeping Trust.
All overnight repurchase agreements with the Texas Treasury Safekeeping Trust are rated AA+ by Standard & Poor's.
NOTE 4: SHORT TERM DEBT - NOT APPLICABLE
NOTE 5: LONG-TERM LIABILITIES
Changes in General Long-Term Liabilities
During the fiscal year ended August 31, 2011, the following changes occurred in liabilities.
Governmental Balance Addition s Dedu ctions Balance Amounts Amounts
Activities 911/2010 8131/2011 Due Within Due
_- __ _. . ._. _ _ - - One Year Thereafter
C om pensable
Leave $1,886,637.84 $1,506,950.15 $1,394,209.49 $1,999,378.50 $1,068,710.91 $930,667.59
Employees' Compensable Leave
If a state employee has had continuous employment with the state for at least six months, the state employee is entitled to
be paid for all unused vacation time accrued in the event of the employee's resignation, dismissal or separation from state
employment. Expenditures for accumulated annual leave balances are recognized in the period paid or taken in
governmental fund types. For these funds types, the liability for unpaid benefits is recorded in the statement of net assets.
Both an expense and a liability for business-type activities are recorded in the proprietary funds as the benefits accrue to
employees. No liability is recorded for non-vesting accumulating rights to receive sick pay benefits. This obligation is
usually paid from the same funding source(s) from which the employee's salary or wage compensation was paid.
NOTE 6: BONDED INDEBTEDNESS - NOT APPLICABLE
NOTE 7: DERIVATIVE INSTRUMENTS - NOT APPLICABLE
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Texas. Department of Banking. Texas Department of Banking Annual Financial Report: 2011, report, September 30, 2011; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth303618/m1/11/?q=%222010-09-01%2F2011-08-31%22: accessed June 25, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.