Audit Report Cover 2005 Final 2 2006

Annual Financial Report For Fiscal Year ending September 30, 2005 Brownsville PUB’s mission is to create value for our customers and the community as the provider of choice for utility services. On the Cover: In 2002, the BPUB purchased a LM 6000 General Electric generator for $10.7 million. The unit arrived at the Port of Brownsville in early 2003 and was transported to the Silas Ray Power Plant. Silas Ray Unit 10 went into commercial operation in December 2004 just in time to generate elec-tricity for the city on Christmas Day during Brownsville’s first snow fall in 100 years . The 48-megawatt gas turbine unit allows BPUB to meet capacity peak requirements. PUBLIC UTILITIES BOARD OF THE CITY OF BROWNSVILLE, TEXAS (A Component Unit of the City of Brownsville, Texas) Basic Financial Statements September 30, 2005 and 2004 PUBLIC UTILITIES BOARD OF THE CITY OF BROWNSVILLE, TEXAS (A Component Unit of the City of Brownsville, Texas) Table of Contents Page Management’s Discussion & Analysis i Independent Auditors’ Report 1 Financial Statements: Balnce Shets 3 Statements of Revenues, Expenses, and Changes in Fund Net Assets 5 Staemnts ofCash Flows 6 Notes to Basic Financial Statements 8 Required Supplementary Information: Texas Municipal Retirement System Schedule of Funding Progress 33 Independent Auditors’ Report on Internal Control Over Financial Reporting ...