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Home My WebLink AboutCAFR - FY 1991-92Year Ended June 30, 1992 THOMAS, BYRNE & SMITH AN ACCOUNTANCY CORPORATION CERTIFIED PUBLIC ACCOUNTANTS RIVERSIDE, CALIFORNIA Year Ended June 30, 1992 THOMAS, BYRNE & SNQ M AN ACCOUNTANCY CORPORATION CERT ED PUBLIC ACCOUNTANTS RIVERSIDE, CALIFORNIA "11 CITY OF DIAMOND BAR, CALIFORNIA ANNUAL AUDIT REPORT Year Ended June 30, 1992 TABLE OF CONTENTS Independent Auditors' Report General Purpose financial Statements Exhibit 1 - Combined Balance Sheet - All Fund Types and Account Groups Exhibit 2 - Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types Exhibit 3 - Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General, Special Revenue and Capital Project Fund Types Exhibit 4 - Statement of Revenues, Expenses and Changes in Retained Earnings - All Proprietary Fund Types Exhibit 5 - Statement of Cash Flows - All Proprietary Fund Types Notes to Financial Statements Supplemental Information Schedule 1 - General Fund - Statement of Revenues - Budget and Actual Schedule 2 - General Fund - Statement of Expenditures - Budget and Actual Schedule 3 - Combining Balance Sheet - All Special Revenue Funds Schedule 4 - Combining Statement of Revenues, Expenditures and Changes in Fund Balances - All Special Revenue Funds Schedule 5 - Combining Balance Sheet - All Capital Project Funds Schedule 6 - Combining Statement of Revenues, Expenditures and Changes in Fund Balances - All Capital Project Funds PAGE 1 2 3 4 5 6 7-23 24 25 26-27 28-29 30 31 THROMAS,B E & SARTH DONALD L. THOMAS, CPA (RETIRED) AN ACCOUNTANCY CORPORATION 4201 BROCKTON AVENUE, SUITE 100 D. RICHARD BYRNE, CPA (RETIRED) CERTIFIED PUBLIC ACCOUNTANTS RIVERSIDE, CALIFORNIA 92501 V. C. SMITH, JR., CPA JERRY D. BIGBIE, CPA RICHARD A. TEAMAN, CPA City Council City of Diamond Bar Diamond Bar, California TELEPHONE (714) 682-4851 TELECOPIER (714) 682-6569 We have audited the accompanying general purpose financial statements of the City of Diamond Bar, California, as of and for the year ended June 30, 1992, as listed in the table of contents. These financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. 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 includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Diamond Bar, California, as of June 30, 1992, and the results of its operations and the cash flows of its proprietary fund types for the year then ended in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The supplemental information listed in the table of contents is presented for purposes of additional analysis and is not a required part of the general purpose fmancial statements of the City of Diamond Bar, California. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole. September 1, 1992 CITY OF BAR COMBINED BALANCE SHEET FUND,TYPES CALIFORNIAANDACCOUNT GROUPS EDIT 1 June 30, 1992 - The accompanying notes are an integral part of this statement. -2- Fiduciary Proprietary Fund Totals - _ Governmental Fund T es Fund Tomes es Account Groups (Memorandum Only) Specie api ilr ternal T.-Dt An General Long -Term June 30 General Revenue Proiect Service Agency Fixed Assets Obligations 1992 - 1991 ASSETS AND OTHER DEBITS ASSETS Cash (Notes i and 3) $ 4,538,303 $ 3,281,540 $ 921,876 $ 352,647 $ 128,433 $ $ $ 9,222,799 $ 6,959,752 Accounts Receivable 43,759 171,782 215,541 59,218 Interest Receivable 143,248' 146 143,394 136,568 - Due From Other Funds (Note 4) 19,7084 19,084 24,087 Due From Other Governments 171,40 641,245 812,652 521,420 Fixed Assets (Notes 1 and 5) 2,586,578 2,586,578 2,486,894 OTHER DEBITS _ Resources Available For Long Term Obligations 550.133 550.133 554.236 - TOTAL ASSETS AND OTHER DEBITS 1___4,915.801 S 4.094.713 1_921 876 $ 352,64? 128,433 $ 2.58b,578 $ 550.133 $ 13.550.181 $ 10.742.175 LIABILITIES, EQUITY AND OTHER CREDITS LIABILITIES Accounts Payable $ 1,034,912 $ 80,045 $ 68,963 $ $ $ $ $ 1,183,920 $ 1,009,191 Accrued Liabilities 60,198 864 49 61,111 56,549 Due To Other Funds (Note 4) 19,084 19,084 24,087 Deposits (Note 11) 51,923 128,433 180,356 78,001 Claims And Judgements Payable (Note 6) 92,050 92,050 127,795 Deferred Revenue 26,051 Long Term Obligations (Notes 7, 8, and 9) 550.133 550.133 554.236 TOTAL LIABILITIES 1,239,083 99.993 69.012 -0- 128.433 550,133 2.086,654 1,875.910 EQUITY AND OTHER CREDITS Investment in General Fixed Assets 2,586,578 2,586,578 2,486,894 Retained Earnings Unreserved- Undesignated 352,647 352,647 239,835 Fund Balances (Note 10) Reserved For Encumbrances 106,733 200,170 31,537 338,440 145,714 Reserved For Debt Service 550,133 550,133 554,236 Unreserved - Undesignated 3.019.852 3.794.550 821.327 7,635,729 5.439.586 TOTAL EQUITY AND OTHER CREDITS 3.676,718 3,994.120 852.864 352.647 - 0 - 2.586.578 11.463,527 8,866,265 TOTAL LIABILITIES, EQUITY AND OTHER CREDITS $ 4.915.801 J____4.094.713 $ 921.876 $ 352,647$ 128,433 $ 2.586,578 $ 550.133 $ 13.550.181 $ 10.742.175 - The accompanying notes are an integral part of this statement. -2- CITY OF DIAMOND BAR CALIFORNIA COMBINED STATEMENT OF REVENUES EXPENDITIh&S AND CHANGES IN FUND BALANCES - ALL WWW MDENTAL FUND TYPES Year Ended June 30, 1992 EXHIBIT 2 The accompanying notes are an integral part of this statement. -3- Totals - (Memorandum Only) Year Ended June 30 Special Capital General Revenue Project 1992 1991 REVENUES Takes $ 4,510,552 $ 83,238 $ $ 4,593,790 $ 4,409,302 Special Assessments Licenses and Permits 864,260 466,369 466,369 864,260 422,038 597,771 Intergovernmental 2,645,337 2,421,972 5,067,309 5,993,281 Fines And Forfeits 23,669 74,061 97,730 281,891 Use Of Money And Property 380,915 184,504 12,921 578,340 506,081 Developer Fees Miscellaneous 43,399 179,679 50,000 179,679 93,399 55,307 TOTAL REVENUES 8,468,132 3,409,823 62,921 11,940,876 12,265,671 EXPENDITURES General Government - Departmental 1,897,681 1,897,681 2,105,451 General "Government - Nondepartmental 471,645 553,880 1,025,525 1,217,302 Public Safety Public Works 3,794,887 1,227,455 423,747 21,942 3,794,887 1,673,144 3,600,879 1,397,501 Parks, Recreation and Culture Capital Outlay 740,687 75,916 89,257 194,758 740,687 359,931 603,997 949.540 TOTAL EXPENDITURES 8,208,271 1,066,884 216,700 9,491,855 9,874,670 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES 259,861 2,342,939 (153,779) 2,449,021 2,391,001 OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) 487,802 (671,585) 83,783 (100,000) (100,000) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES 747,663 1,671,354 (69,996) 2,349,021 2,291,001 FUND BALANCES - BEGINNING OF YEAR 2,893,310 2,323,366 922,860 6,139,536 3,848,535 PRIOR PERIOD ADJUSTMENT (NOTE M 35,745 35,745 FUND BALANCES - BEGINNING OF YEAR AS RESTATED 2,929,055 2,323,366 922,860 6,175,281 3,848,535 FUND BALANCES - END OF YEAR $ 3,676,718 3,994,720 $ 852,864 $ 8,524,302 $ 6,139,536 The accompanying notes are an integral part of this statement. -3- CITY OF DIAMOND BAR CALIFORNIA COMBINED STATEMENT OF REVENUES EXPENDITURES AND CRAG -ES IN FUND BALANCES - BUDGET AND ACTUAL - GENERAL, SPWIAL REVENUE AND CAPITAL PROJECT FUND TYPES Year Ended June 30, 1992 EDIT 3 The accompanying notes are an integral part of this statement. Special Revenue Funds General Fund Proiect Funds Variances - Variances - Favorable Budget Actual (Unfavorable) REVENUES Taxes $ 4,162,500 $ 4,510,552 $ 348,052 Special Assessments Actual (Unfavorable) Licenses and Permits 576,450 864.260 287,810 Intergovernmental 2,673,750 2,645,337 (28,413) Fines and Forfeits 47,500 23,669 (23,831) Use of Money and Property 332,500 380,915 48,415 Developer Fees 114,000 74,061 Miscellaneous 1.995 43.399 41.404 TOTAL REVENUE 7.794.695 8.468.132 673.437 EXPENDITURES 12,921 179,679 General Government- Departmental 1,849,156 1,897,681 (48,525) General Government- Nondegartmental 499,950 471,645 28,305 Public Safety 3,910,682 3,794,887 115,795 Public Works 1,250,400 1,227,455 22,945 Parka, Recreation and Culture 685,492 740,687 (55,195) Capital outlay 47.500 75.916 (28.416) TOTAL EXPENDITURES 8,243.180 8.208.271 34,909 EXCESS OF REVENUES OVER 109.500 89.257 20.243 (UNDER) EXPENDITURES (448,485) 259,861 708,346 OTHER FINANCING SOURCES (61,834) 2.512,700 216.700 (USES) 1,631,763 2,342,939 Operating Transfers is (Out) 515.050 487.802 (27,248) EXCESS OF REVENUES AND OTHER (671.585) 1,155. 1,420,100 SOURCES OVER (UNDER) (1.336.317) EXPENDITURES AND OTHER USES $ 66.565 747,663 681,098 FUND BALANCES - (69,996) $ 962,954 BEGINNING OF YEAR 2,893,310 PRIOR PERIOD ADJUSTMENT 922,860 35.745 FUND BALANCES - BEGINNING OF YEAR AS RESTATED 2.929,055 FUND BALANCES - END OF YEAR $ 3.676,718 The accompanying notes are an integral part of this statement. -4- 2,323,366 922,860 S 3,994,720 S 852,864 Special Revenue Funds Capital Proiect Funds Variances - Variances - Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 78,472 $ 83,238 $ 4,766 $ $ $ 599,563 466,369 (133,194) 1,837,778 2,421,972 584,194 114,000 74,061 (39,939) 7,000 184,504 177,504 12,921 12,921 179,679 179,679 59.650 50.000 (9.650) 2.636,813 3.409.823 773.010 59,650 62,921 3.271 149,900 553,880 (403,980) 745,650 423,747 321,903 20,100 21,942 (1,842) 109.500 89.257 20.243 2.492.600 194.758 2,297,842 1.005.050 1.066.884 (61,834) 2.512,700 216.700 2.296.000 1,631,763 2,342,939 711,176 (2,453,050) (153,779) 2,299,271 (1.826,650) (671.585) 1,155. 1,420,100 83.783 (1.336.317) S (194.887) 1.671.354 S 1,86b,241 S (1.032,950) (69,996) $ 962,954 2,323,366 922,860 -4- 2,323,366 922,860 S 3,994,720 S 852,864 CITY OF DIAMOND BAR, CALIFORNIA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS ALL PROPRIETARY FUND TYPES Year Ended June 30, 1992 OPERATING REVENUES Charges for Services TOTAL OPERATING REVENUES OPERATING EXPENSES Contractual Services TOTAL OPERATING EXPENSES NON OPERATING REVENUES (EXPENSES) Interest Revenue INCOME BEFORE OPERATING TRANSFERS Operating Transfers In (Out) NET INCOME RETAINED EARNINGS - BEGINNING OF YEAR RETAINED EARNINGS - END OF YEAR The accompanying notes are an integral part of this statement. -5- Internal Service Year Ended June 30,.- 1992 1991 $ 0- -0- -0- 2,500 -0- 2,500 0-2,500 -0- (2,500) -0- 15,312 0- 15,312 10,023 12,812 10,023 100,000 100,000 112,812 110,023 239,835 129,812 352,647 239,835 Mo1111: M CITY OF DIAMOND BAR, CALIFORNIA STATEMENT OF CASH FLOWS ALL PROPRIETARY FUND TYPES Year Ended June 30, 1992 NET CASH PROVIDED BY OPERATING ACTIVITIES 2 500) Cash and cash equivalents includes all cash accounts as well as short-term investments with a maturity date within three months of the date acquired by the City. The accompanying notes are an integral part of this statement. -6- Internal Service _ Year Ended June 30, 1992 1991 CASH FLOWS FROM OPERATING ACTIVITIES Claims and Judgements Payment $(,2,500) $ -0 - — NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (2,500) -0- 0 -CASH CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES -- Operating Transfers In 100,000 100,000 NET CASH PROVIDED (USED) BY NONCAPITAL FINANCING ACTIVITIES 100,000 100,000 — CASH FLOWS FROM INVESTING ACTIVITIES Interest On Investments 17,427 7,908 — NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES 17,427 7,908 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 114,927 107,908 CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 237,720 129,812 CASH AND CASH EQUIVALENTS - END OF YEAR 352 647 237 720 RECONCILIATION OF NET OPERATING INCOME TO NET - CASH PROVIDED BY OPERATING ACTIVITIES Net Operating Income $ (2,5 $ 0 NET CASH PROVIDED BY OPERATING ACTIVITIES 2 500) Cash and cash equivalents includes all cash accounts as well as short-term investments with a maturity date within three months of the date acquired by the City. The accompanying notes are an integral part of this statement. -6- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS IN ORDER OF PRESENTATION Year Ended June 30, 1992 NOTE DESCRIl''I'ION PAGE 1 Summary of Significant Accounting Policies 8-12 2 Property Tax Calendar 12 3 Composition of Cash 13-14 4 Interfund Receivables and Payables 15 5 General Fixed Assets 15 6 Claims and Judgements Payable 15 7 Long -Term Obligations 16 8 Compensated Absences Payable 16 9 Advances - County of Los Angeles 16 10 Fund Balance/Retained Earnings Reserves 17 11 Deposits 17-18 12 Joint Venture 18-19 13 City Employees' Retirement Plan (Defined Benefit Pension Plan) 20-22 14 Expenditures in Excess of Appropriations 23 15 Federal -Aid Urban Agreement 23 16 Contingencies 23 17 Subsequent Event 23 -7- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City of Diamond Bar, California was incorporated April 18, 1989 as a General Law City. The City operates under a Council -Manager form of government and provides the following services: public safety (police), highways and street, parks, public improvements, community development (planning, building, zoning) and general administrative services. The financial statements of the City of Diamond Bar, California have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the government's accounting policies reflected in these financial statements are summarized as follows: A) Description of Entity Included within the financial reporting entity City of Diamond Bar, is solely the City of Diamond Bar. Other governmental agencies providing services either to the City in its entirety, or to a portion thereof included: State of California County of Los Angeles Tri- Valley Water District Walnut Valley Water District Pomona Unified School District Walnut Valley Unified School District Mount San Antonio Community College District California Polytechnic University Consolidated Fire Protection District The City of Diamond Bar does not exercise oversight responsibility over any of the above entities. Each of these agencies is governed by an independently - elected governing board other than the City Council of the City of Diamond Bar. These agencies are not financially dependent on the City, and the City does not have the ability to significantly influence their management or operations. Consequently, financial information for these agencies is not included within the scope of this financial report. As recommended by GASB Code Section J50.103, financial data for joint ventures which do not meet the criteria for inclusion within the reporting entity have been reported in the footnotes. B) Basis of Presentation - Fund Accounting The accounts of the City are organized on the basis of funds and account groups each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self -balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into five generic fund types and three broad fund categories as follows: -8- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued Governmental Funds General Fund - The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of specific revenue resources (other than major projects) that are legally restricted to expenditures for specific purposes. Capital Project Funds - Capital Project Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by Proprietary and Trust Funds). Proprietary Funds Internal Service Funds - Internal Service Funds are used to account for goods or services provided by one department to other departments on a cost reimbursement basis. The Internal Service Fund of the City of Diamond Bar consists solely of the Self Insurance Fund. Fiduciary Funds Trust and Agency Funds - Trust and Agency Funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governments, and/or other funds. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. C) Fixed Assets and Long -Term Liabilities The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund are determined by its measurement focus. All governmental funds are accounted for on a spending or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance (net current assets) is considered a measurement of "Available Spendable Resources". Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources of "available spendable resources" during a period. Fixed assets used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than intergovernmental funds. Public domain ("infrastructure") general fixed assets consisting of certain improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems, are not capitalized as general fixed assets. No depreciation has been provided on general fixed assets. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fined assets are valued at their estimated fair value on the date donated. CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued C) Fixed Assets and Long -Term Liabilities - Continued Long-term liabilities expected to be financed from governmental funds are accounted for in the General Long -Term Obligation Account Group, not in the governmental funds. The two account groups are not "funds". They are concerned only with the measurement of financial position. They are not involved with measurement of results of operations. Noncurrent portions of long-term receivables due to governmental funds are reported on their balance sheets, in spite of their spending measurement focus. Special reporting treatments are used to indicate, however, that they should not be considered "available spendable resources", since they do not represent net current assets. Recognition of governmental fund type revenues represented by noncurrent receivables is deferred until they become current receivables. Noncurrent portions of long-term loans receivable are offset by fund balance reserve accounts. Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by non-current liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund expenditures or fund liabilities. They are �instead reported as liabilities in the General Long -Term Obligation Account Group. Al1proprietary fund types are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Their reported fund equity (net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net total assets. D) Basis of Accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. All jgovernmental funds are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become measurable and available as net current assets. The primary revenue sources susceptible to accrual are sales taxes, property taxes, special assessments, fines and forfeitures which are considered "measurable" when in the hands of intermediary collection governments and are recognized as revenue at that time. Anticipated refunds of such taxes are recorded as liabilities and reductions of revenues when they are measurable and their validity seems certain. Expenditures are generally recognized under the accrual basis of accounting. Exceptions to this general rule are (1) principal and interest on general long-term debt which is recorded as expenditure on its due date (2) disbursements for inventory type items are considered expenditures at the time of purchase and (3) expenditures are not divided between years by recording of prepaid expenses. All proprietary funds are accounted for using the accrual basis of accounting. Their revenues are recognized when they are earned, and their expenses are recognized when they are incurred. -10- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued E) Budgets and Budgetary Accounting The City uses the following procedures in establishing the budgetary data reflected in the financial statements. 1) Before the beginning of the fiscal year the City Manager submits to the City Council a proposed budget for the year commencing the following July 1. 2) Public hearings are conducted to obtain taxpayer comments. 3) The budget is subsequently adopted through passage of a resolution. 4) All appropriated amounts are as originally adopted or as amended by the City Council and lapse at year end. 5) Encumbrances and Continuing Appropriations are rebudgeted on July 1 by Council action. 6) Original appropriations are modified by supplementary appropriation and transfers among budget categories. The City Council approves all significant changes. 7) Formal budgetary integration is employed as a management control device during the year for the General, Special Revenue and Capital Project Funds. 8) Budgets for General, Special Revenue and Capital Project Funds are adopted on a basis consistent with generally accepted accounting principles. F) Appropriations Limit Under Article XMB of the California Constitution (the Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed. appropriations, the excess must either be refunded to the State Controller or returned to the taxpayers through revised tax rates, revised fee schedules or other refund arrangements. For the fiscal year ended June 30, 1992, proceeds of taxes did not exceed appropriations. G) Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary integration in the Governmental Fund Types. Encumbrances outstanding at year-end are reported as reservations of fund balance since they do not constitute expenditures or liabilities. -il- CITY OF DIAMOND BAR, CALL ORNL& NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued ED Investments Investments are stated at cost (see Note 3), except that assets of the deferred compensation plan agency fund are reported at fair market value rather than cost, in accordance with GASB, Statement 2. If market values decline below cost, no loss is recorded if such declines are considered temporary. I) Claims and Judgments Claims and judgments are accounted for in accordance with GASB Codification Section 050.110, which requires that expenditures for claims be recognized when it is probable that the liability has been incurred at year end and the amount of the loss can be reasonably estimated. Accordingly, such claims are recorded as liabilities in the financial_ statements. J) Prior Period Adjustment Included in the General Fund is a prior period adjustment of $35,745 that represents an adjustment to the claims and judgements liability. Prior years' estimates proved to be higher than actual occurrences. I) Comparative Data Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the City's financial position and operations. However, comparative (i.e., presentation of prior year totals by fund type) data have not been presented in each of the statements since their inclusion would make the statements unduly complex and difficult to read. L) Total Columns on Combined Statements - Overview Total columns on the Combined Statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Rum N Property taxes are assessed and collected each fiscal year according to the following property tax calendar: Lien date March 01 Levy date July 01 to June 30 Due date November 01 - 1st installment March 01 - 2nd installment Delinquent date December 10 - 1st installment April 10 - 2nd installment Under California law, property taxes are assessed and collected by the counties up to 1 % of assessed value, plus other increases approved by the voters. The property taxes go into a pool, and are then allocated to the cities based on complex formulas prescribed by the state statutes. -12- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 3) COMPOSITION OF CASH - $9,222,799 The City of Diamond Bar maintains a cash and investment pool that is available for use for all funds. Each fund type's position in the pool is reflected in the combined balance sheet as cash. Cash and investments by credit risk, carrying amount and market value of investments at June 30, 1992, consisted of the following: Carrying Market Category Amount Value 1 2 3 Fiscal Agent Investments $ 128,433 $ 128,433 $ $ $ 128,433 Demand Accounts* 100,677 100,677 100,677 229,110 229,110 $ 100,677 $ - 0 - $ 128,433 State of California - LAIF 8,996,405 8,996,405 Petty Cash 700 700 Total Cash and Investments (Bank Balances) 9,226,215 9,226,215 Outstanding Checks (3,416) (3,416) Total Cash and Investments (Book Balances) $ 9,222,799 $ 9,222,799 * 100 Percent Insured or Collateralized Classification of Deposits and Investments by Credit Risk GASB statement 3 requires that deposits and investments be classified into three categories of credit risk. These categories are as follows: Deposits: Category 1 - Deposits which are insured or collateralized with securities held by the City or by it's agent in the City's name. Category 2 - Deposits which are collateralized with securities held by the pledging financial institutions trust department or agent in the City's name. Category 3 - Deposits which are uncollateralized, or collateralized with securities held by the pledging financial institution or by its trust department or agent but not in the City's name. Investments: Category 1 - Includes investments that are insured or registered or for which the securities are held by the City or its agent in the City's name. - 13 - CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 3) COMPOSITION OF CASH - Continued Classification of Deposits and Investments by Credit Risk - Continued Category 2 - Includes uninsured and unregistered investments for which the securities are held by the broker's or dealer's trust department or agent in the City's name. Category 3 Includes uninsured and unregistered investments for which the securities are held by the broker or dealer or by its trust department or agent but not in the City's name. The following disclosures are made in accordance with Statement Number 3 of the Governmental Accounting Standards Board: Authorized Investments Under provisions of the City's Investment Policy the City Treasurer may deposit funds in the following investment media to the extent permitted by applicable law: (1) Securities of the U.S. Government or by its agencies; (2) certificates of deposit or time deposits placed with commercial banks or savings and loan companies; (3) bankers acceptances; (4) negotiable certificates of deposit; (5) commercial paper; (6) Local Agency Investment Fund; (7) repurchase agreements; (8) passbook savings deposits; (9) money market funds; (10) investment agreements or contracts representing unconditional obligations; (11) Tax-exempt obligations. The City selects its investments based on safety, liquidity and yield. Local Agency Investment Fund (LAIF) The LAW is a special fund of the California State Treasury through which local governments may pool investments. Each city may invest up to $15,000,000 in the fund. Investments in LAIF are highly liquid, as deposits can be converted to cash within twenty-four hours without loss of interest. Investments with LAIF are secured by the full faith and credit of the State of California. Collateral for Deposits Under the provisions of the California Government Code, California banks and savings and loan associations are required to secure a city's deposits by pledging government securities as collateral. The market value of the pledged securities must equal at least 110 % of the city's deposits. California law also allows financial institutions to securecity deposits by pledging first trust deed mortgage notes having a value of 150% of a city's total deposits. The collateral for certificates of deposit is generally held in safekeeping by the Federal Home Loan Bank in San Francisco as the third party trustee. The securities are physically held in an undivided pool for all California public agency depositors. The State Public Administrative Office for public agencies and the Federal Home Loan Bank maintain detailed records of the security pool which are coordinated and updated weekly. The City Treasurer, at his or her discretion, may waive the 110% collateral requirement for deposits which are insured up to $100,000 by the FDIC. -14- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 4) INTERFUND RECEIVABLES AND PAYABLES - $19,084 The balances due from and due to other funds as of June 30, 1992 are as follows: Due From: Due To: OTS Fund $19,084 General Fund $19,084 112.084 IIE084 5) GENERAL FIND ASSETS - $2,586,578 Activities relating to the general fixed assets are presented as follows: Beginning Balance Additions Deletions Ending Balance General Government Furniture and Fixtures $ 100,485 $ 12,939 $ $ 113,424 Machinery and Equipment 259.696 38.398 - 0 - 298.094 Total General Government 360.181 51,337 - 0 - 411.518 Community Services Land 1,560,000 1,560,000 Improvements 566,713 12,588 579,301 Construction In Progress - 0 - 35.759 35.759 Total Community Services 2.126,713 48.347 - 0 - 2.175,060 Total General Fixed Assets $ 2,486,894 99 684 $ - 0 - $ 2,586,578 6) CLAIMS AND JUDGEMENTS PAYABLE - $92,050 These amounts represent estimates for liability claims from Carl Warren & Co., the City's Claim Administrators, for which the liability is probable. City staff concurred that these are the City's best estimates. The estimated liability at June 30, 1992 as determined by Carl Warren & Co., is $92,050 (Also see Note 1J). -15- 7) 0 9) CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 LONG-TERM OBLIGATIONS - $550,133 Activities relating to long-term obligations are presented as follows: * - Los Angeles County Treasury Pool Rate ** - As Monies Become Available COMPENSATED ABSENCES PAYABLE - $30,280 After twelve months continuous service with the City, full time employees receive from ten (10) to twenty (20) days vacation each year depending upon length of service. Vacation can be accumulated up to a maximum of 20 days. Unused vacation may be cashed in upon leaving employment with the City. City employees receive 3.08 hours of sick leave per pay period and can be accumulated up to a maximum of 144 hours. Unused sick leave may be cashed in upon leaving employment at the rate of 1/2 the employee's current rate of pay. The liability for compensated absences will be funded, when required, from future City operations. ADVANCES - COUNTY OF LOS ANGELES - $519,853 The City incorporated on April 18, 1989. All services within the City continued to be provided by the County of Los Angeles. The cost of those services are to be reimbursed by the City over a period not to exceed five years. The County is required to give the City credit for any revenue which the County retained that was generated within the City limits during the period of time the services were provided. The cost of reimbursement shall bear interest at a rate equivalent to the Los Angeles County treasury pool earnings rate. The outstanding balance of $519,853 at June 30, 1992 is currently in dispute. The ultimate disposition of the advance is not known at this time. However, pursuant to GASB statement 1 it is reflected as a liability inasmuch as it is both estimatable and probable. -16- Date of Years of Amount Beginning New Matured Ending Description Issue Maturity Rates of Interest Authorized Balance Indebtedness During Year Balance Compensated Absences Payable (Note 8) N/A N/A N/A N/A $ 34,383 $ $ 4,103 $ 30,280 Advances - County of L. A. (Note 9) 4-18-89 N/A 519.853 519,853 Totals 554 $ 4.103 550,133 * - Los Angeles County Treasury Pool Rate ** - As Monies Become Available COMPENSATED ABSENCES PAYABLE - $30,280 After twelve months continuous service with the City, full time employees receive from ten (10) to twenty (20) days vacation each year depending upon length of service. Vacation can be accumulated up to a maximum of 20 days. Unused vacation may be cashed in upon leaving employment with the City. City employees receive 3.08 hours of sick leave per pay period and can be accumulated up to a maximum of 144 hours. Unused sick leave may be cashed in upon leaving employment at the rate of 1/2 the employee's current rate of pay. The liability for compensated absences will be funded, when required, from future City operations. ADVANCES - COUNTY OF LOS ANGELES - $519,853 The City incorporated on April 18, 1989. All services within the City continued to be provided by the County of Los Angeles. The cost of those services are to be reimbursed by the City over a period not to exceed five years. The County is required to give the City credit for any revenue which the County retained that was generated within the City limits during the period of time the services were provided. The cost of reimbursement shall bear interest at a rate equivalent to the Los Angeles County treasury pool earnings rate. The outstanding balance of $519,853 at June 30, 1992 is currently in dispute. The ultimate disposition of the advance is not known at this time. However, pursuant to GASB statement 1 it is reflected as a liability inasmuch as it is both estimatable and probable. -16- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 10) FUND BALANCE/RETAINED EARNINGS RESERVES Reserves segregate portions of fund balance and retained earnings that are not available spendable resources. The various reserves established as of June 30, 1992 are described below and tabulated as follows: Reserved For: Encumbrances Debt Service Total General Fund $106,733 550.133 656 866 Special Revenue Capital Project Funds Funds $ 200,170 $ 200,170 $ 31,537 $ 31,537 Reserved for Encumbrances - These reserves represent the portion of purchase orders awarded for which the goods or services had not yet been received at June 30, 1992. Although all appropriations lapse at year-end even if encumbered, the City intends either to honor the contracts in progress or to cancel them. Reserve for encumbrances are rebudgeted on July 1, by Council action. Reserved for Debt Service - These reserves for Debt Service represent reserves accumulated by the City of Diamond Bar that are legally restricted to the payment of long-term debt principal and interest amounts that mature in future years. 11) DEPOSITS - $180,356 Included in this amount is Deferred Compensation as follows: The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all City employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under this plan, all property and rights purchased with these amounts and all income attributable to those amounts, property or rights are (until made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the Plan), subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the City in the amount equal to the fair market value of the deferred account for each participant. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. -17- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 11) DEPOSITS - $180,356 - Continued The following is a summary of the increases and decreases of the fund for the year ended June 30, 1992. Fund Assets, Beginning of Year Deposits Interest Administrative Expenses Disbursements Fund Assets, End of Year 12) JOINT VENTURE $ 71,621 57,755 11,842 (423) (12,362) $ 128,433 The City is a member of the Southern California Joint Powers Insurance Authority (Authority). The following joint venture disclosures are made in compliance with GASB Code Section 150.103: A) Description of Joint Powers Authority The Authority is comprised of 65 members and is organized under a Joint powers Agreement pursuant to the California Government Code. The purpose of the Authority is to arrange and administer programs of insurance for the pooling of self-insured losses and to purchase excess insurance coverage. Each member city has a representative on the Board of Directors. Officers of the Authority are elected annually by the Board members. B) Self -Insurance Programs of the Authority General Liability Insurance: Annual deposits are paid by member cities and are adjusted retrospectively to cover costs. Each member city, including Diamond Bar, self -insures for the first $10,000 of each loss. Participating cities then share in the next $10,000 to $500,000 per loss occurrence. Specific coverage includes comprehensive and general automotive liability, personal injury, contractual liability, errors and omissions and certain other coverage. Beginning with fiscal year 1987, the Authority became fully self-insured. Separate deposits are collected from member cities to cover claims between $500,000 and $10,000,000. These deposits are also subject to retrospective adjustment. Workers' Compensation: Periodic deposits are paid by member cities and are adjusted retrospectively to cover costs. Each member city has a specific retention level. Member cities do not share or pay losses of other cities under $50,000. Losses of $50,000 to $250,000 are prorated among all participating cities on a payroll basis. Losses in excess of $250,000 are covered by excess insurance purchased by the participating cities, as a part of the pool, to a limit of $10 million. The City of Diamond Bar does not participate in the Authority's Workers' Compensation Program. Property Protection: The City of Diamond Bar participates in the All Risks Property Protection Program, which is primarily underwritten by a casualty insurance company. The annual deposits paid by participating member cities are based upon deductibility levels and are not subject to retroactive adjustments. -18- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 12) JOINT VENTURE - Continued C) Condensed Financial Information of the Authority Noted below is the condensed audited balance sheet of the Authority as of June 30, 1990 and 1991: 1990 1991 Assets $ 53,928,645 $ 59,754,150 Liabilities to member cities (all current) $ 47,028,069 $ 53,548,249 Fund Equity - Reserved for Insurance Claims and Losses 6,900,576 6,205,901 $ 53,928,645 $ 59,754,150 As a result of operations for the year ended June 30, 1991, fund equity, reserved, decreased by $694,675. Noted below is the condensed audited statement of revenues, expenditures, and changes in fund equity of the Authority for the year ended June 30, 1990 and 1991: 1989-90 1990-91 Revenues $ 20,006,461 $ 18,118,314 Expenditures 15,663,130 18, 812,989 Excess of Revenues Over Expenditures 4,343,331 (694,675) Fund Equity - July 1 - 0 - 6,900,576 Prior Period Adjustment 2,557,245 - 0 - Fund Equity - June 30 $ 6,900,576 $_6105,901 The Authority has no long-term debt. June 30, 1992 information was not available at the date of this report. The aforementioned information is not included in the accompanying financial statements. -19- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 13) CITY EMPLOYEES' RETIREMENT PLAN (Defined Benefit Pension Plan) Plan Description The City of Diamond Bar contributes to the California Public Employees Retirement System (PERS), an agent multiple -employer public employee retirement system that acts as a common investment and administrative agent for participating public entities within the State of California. The total covered payroll for employees participating in the System for the year ended June 30, 1992 was $983,905. The total payroll for the year was $1,052,951. All full-time and part-time benefitted City employees are eligible to participate in the System. Part-time non benefitted hourly employees do not participate in the system. Benefits vest after five years of service. City employees who retire at or after age fifty with five years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount that varies from 1.092 percent at age fifty to a maximum of 2.418 percent at age sixty-three of the three highest years' salary for non -safety employees for each year of credited service. The system also provides death and survivor's benefits. These benefit provisions and all other requirements are established by State statute and City ordinance. Employee and Employer Contribution Obligations The City makes the contributions required. of City employees on their behalf and for their account. The rate is set by statute and therefore remains unchanged from year to year. The present rate for local miscellaneous members is 7 % of their annual wages. The City is required to contribute the remaining amounts necessary to fund the benefits for its members, using the actuarial basis recommended by the PERS actuaries and actuarial consultants and adopted by the Board of Administration. Funding Status and Progress The amount shown below as the "pension benefit obligation" is a standardized measure of the present value of pension benefits, adjusted for the effects of step -rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help assess the funding status of the system on a going -concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure is the actuarial present value of credited projected benefits and is independent of the funding method used to determine contributions to the System. The pension benefit obligation was computed as part of an actuarial valuation performed as of June 30, 1991. Significant actuarial assumptions used in the valuation include (a) a rate of return on the investment of present and future assets of 8.75 percent a year compounded annually, (b) projected salary increases of 5.25 percent a year compounded annually, attributable to inflation, and across the board real salary increases, (c) additional projected salary increases of 1.75 percent a year, attributable to seniority/merit, and (d) no post-retirement benefit increases. CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 13) CITY EMPLOYEES' RETIREMENT PLAN (Defined Benefit Pension Plan) - Continued The total unfunded pension benefit obligation applicable to the City employees was $(9,742) at June 30, 1991, as follows: Pension Benefit Obligation: Retirees and Beneficiaries Currently Receiving Benefits and Terminated Employees Not Yet Receiving Benefits $ 1,059 Current Employees: Accumulated Employee Contributions Including Allocated Investment Earnings 65,759 Employer -Financed Vested -0- Employer-Financed Non Vested 55.246 Total Pension Benefit Obligation 122,064 Net Assets Available For Benefits At Cost (Market Value = $ 146,173) 131.806 Unfunded Pension Benefit Obligation (9,742 Changes In The Pension Benefit Obligation From Last Year Due To: Changes in Benefit Provisions -0- Changes 0 - Changes in Actuarial Assumptions (5,560) Actuarial information relating to the plan was not available from PERS at June 30, 1992. Actuarially Determined Contribution Requirements and Contribution Made PERS uses the Entry Age Normal Actuarial Cost Method which is a projected benefit cost method. That is, it takes into account those benefits that are expected to be earned in the future as well as those already accrued. According to this cost method, the normal cost for an employee is the level amount which would fund the projected benefit if it were paid annually from date of employment until retirement. PERS uses a modification of the Entry Age Cost method in which the employer's total normal cost is expressed as a level percent of payroll. PERS also uses the level percentage of payroll method to amortize any unfunded actuarial liabilities. The amortization period of the unfunded actuarial liability ends on June 30, 2019. The significant actuarial assumptions used to compute the actuarially determined contribution requirement are the same as those used to compute the pension benefit obligation, as previously described. -21- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 13) CITY EMPLOYEES' RETIREMENT PLAN (Defined Benefit Pension PIan) - Continued The contribution to the system for 1992 of $142,271 was made in accordance with actuarially determined requirements computed through an actuarial valuation performed as of June 30, 1991. The contribution consisted of (a) 146,346 normal cost (14.874 percent of current covered payroll) and (b) $925 amortization of the unfunded actuarial accrued liability (0.094 percent of current covered payroll). The contributions were paid entirely by the City. Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. System wide ten year trend information may be found in the California Public Employees' Retirement System Annual Report. Ten year trend information for the City of Diamond Bar is not provided in this report. Therefore, within the City's financial statement, ten years of historical trend information are required since the annual report for PERS does not reflect information for individual agencies. 1989-90 was the first year the City participated in PERS. Until ten years of data are available, as many years as are available should be presented. Therefore, the trend information for 1989-90 through 1991-92 is summarized as follows: 'Not yet available **Thesecontributions were made in accordance with actuarially determined requirements. There were no post employment benefits provided to City employees' other than the pension plan. -22- (7) Employer Contributions Expressed As A Percentage of Annual Covered Payroll 13.856% 13.856% 14.874% (5) (6) (4) Estimated Unfunded Pension Fiscal (1) Unfunded Annual Covered Benefit Obligation Year Net Assets (2) (3) Pension Benefit Payroll For As a Percentage Ending Available Pension Benefit Percentage Funded Obligation The Succeeding of Covered Payroll June 30 For Benefits Obligation (1)/(2) (2)41) Fiscal Year (4)/(5) 1990 $ 25,070 $ 28,880 86.8% $ 3,810 $ 312,210 1.2% 1991 131,800 122,060 108.0% (9,740) 936,030 -1.0% 1992 'Not yet available **Thesecontributions were made in accordance with actuarially determined requirements. There were no post employment benefits provided to City employees' other than the pension plan. -22- (7) Employer Contributions Expressed As A Percentage of Annual Covered Payroll 13.856% 13.856% 14.874% CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1992 14) EXPENDITURES IN EXCESS OF APPROPRIATIONS Excess of expenditures over appropriations in individual funds are as follows: Fund Excess Prop. A Transit Fund $ 132,930 Solid Waste Fund 21,469 Grand Ave Construction Fund 1,963 These were financed through beginning fund balances and revenues in excess of budget. 15) FEDERAL -AID URBAN AGREEMENT In March, 1991, the City entered into a cooperative agreement with the County of Los Angeles for certain bridge and bridge roadway improvements, wherein the City agreed to assign Regional Federal -Aid Urban (FAU) funds allocated by LACTC and other available FAU funds to the County to administer the project. Inasmuch as the City's allocation was administered by the County, the lead agency, who received the FAU funds directly from the remitting agency, the aforementioned funds and costs of the project are not reflected in the accompanying financial statements. 16) CONTINGENCIES As of June 30, 1992, in the opinion of the City Administration, there are no outstanding matters which have a significant effect on the financial position of the funds of the City. 17) SUBSEQUENT EVENTS On July 1, 1992 the City entered into an agreement to lease a parcel of real property from the Walnut Valley Water District, with the option to purchase. The term of the lease commenced on July 1, 1992 and will end on June 30, 1996. Rental payments of $100,000 are to be made on or before the first day of July of each calendar year during the term of the lease. Additional rent equal to the average annual percentage interest paid on public investments made through the Local Agency Investment Fund of the State of California, shall be due and owing commencing on the rent payment due on July 1, 1993, and each succeeding July 1 during the term of the lease. On Wednesday, September 2, 1992, the 64 -day state budget stalemate ended. The budget closed a gap of $10.7 billion between spending and revenues. The local government portion of the budget includes a $200 million cut to cities, a $200 million cut to redevelopment agencies, a $375 million cut to special districts and $525 million less for counties. The $200 million cut to cities will be a 9 percent across the board shift of general city property taxes based on 1991-92 property tax revenues. The cut applies to all cities that received property taxes in 1990-91, including no- and low -property tax cities. This reduction will be permanent. There are several trailer bills still not signed which may have an effect on the aforementioned budget cuts. It is still uncertain what the ultimate impact will be on the financial condition of the City. -23 - CITY OF DIAMOND BAR, CALIFORNIA GENERAL FUND STATEMENT OF REVENUES - BUDGET AND ACTUAL Year Ended June 30, 1992 SCHEDULEI Budge t Actual Property Taxes $1,300,000 $1,338,255 Sales Tax 2,100,000 2,266,118 Transient Occupancy Taxes 142,500 185,724 Franchises 550,000 575,632 Real Property Transfer Taxes 70,000 144,823 Licenses and Permits 576,450 864,260 Fines and Forfeits 47,500 23,669 Interest 332,500 380,915 Motor Vehicle In Lieu Fees 2,600,000 2,298,114 Mobile Home In Lieu Fees 5,706 Homeowners' Property Tax Relief 33,250 39,880 Cigarette Taxes 40,500 41,637 Miscellaneous Revenue From Other Governments 260,000 Other Revenues 1,995 43,399 TOTAL IL124,695 8 468 132 -24- CITY OF DIAMOND BAR, CALIFORNIA GENERAL FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL Year Ended June 30, 1992 SCHEDULE 2 -25- Budget Actual City Council $ 114,950 $ 113,483 City Attorney 165,000 161,672 City Manager 299,300 347,139 City Clerk 183,250 174,316 Finance 170,750 172,877 Community Promotion 60,500 86,469 Planning 547,006 563,075 Building and Safety 280,000 257,273 Emergency Preparation 28,400 21,377 General Government 289,950 347,586 Insurance 210,000 124,059 Police 3,853,156 3,737,884 Fire 7,526 7,359 Animal Control 50,000 49,644 Public Works 1,250,400 1,227,455 Community Services 369,550 401,435 Parks 315,942 339,252 Capital Outlay 47,500 75,916 TOTAL $8,243,180 271 $&2Q8.271 -25- ASSETS Cash Accounts Receivable Interest Receivable Due From Other Governments TOTAL ASSETS LL&BILITIES Accounts Payable Accrued Liabilities Due to Other Funds TOTAL LL&BILITIES FUND BALANCES Reserved for Encumbrances Unreserved- Designated TOTAL FUND BALANCES TOTAL LIABILITIES AND FUND BALANCES CITY OF DIAMOND BAR, CALIFORNIA COMBINING BALANCE SKEET ALL SPECIAL REVENUE FUNDS June 30, 1992 SCHEDULE 3 Page 1 Traffic Gas Prop. A Park Fees Safety Tax Transit Solid Waste Fund SB821 A.D. No.38 ASSETS $ $ 2,299,359 $ 500,548 $ 8,121 $ 15,744 $ 20,270 $ 114,186 7,449 164,333 146 43,341 111,507 4,945 544,035 15,570 180,077 112L777 $ 119,131 LIABILITIES AND FUND BALANCES $ $ $ 13,228 $ 830 $ $ $ 21,721 76 16 454 116 - 0 - 76 13,244 1,284 - 0 - - 0 - 21,837 177,607 22,563 2.121,676 508.228 14,286 180.077 131.777 97.294 - 0 - 2.299,283 530.791 14,286 180.077 131,777 97.294 L544,035 15 570 180 077 112L777 $119,131 WRE ASSETS Cash Accounts Receivable Interest Receivable Due From Other Governments TOTAL ASSETS LIABILITIES Accounts Payable Accrued Liabilities Due to Other Funds TOTAL LIABILITIES FUND BALANCES Reserved for Encumbrances Unreserved -Undesignated TOTAL FUND BALANCES TOTAL LIABILITIES AND FUND BALANCES CITY OF DIAMOND BAR, CALIFORNIA COMBINING BALANCE SHEET ALL SPECIAL REVENUE FUNDS June 30, 1992 SCHEDULE 3 Page -2- Prop. Prop. C OTS Air Quality Totals - June 30, A.D. No. 39 A.D. No. 41 Transit Fund Improvement 1992 1991 ASSETS $ 192,203 $ 111,055 $ $ $ 20,054 $3,281,540 $2,282,110 171,782 6,656 146 56,545 2.244 3.204 456,920 19.084 641.245 92.494 194 447114 259 456 920 19 084 20 054 094 713 2 437 805 LIABILITIES AND FUND BALANCES $ 29,931 $ 9,435 $ $ $ 4,900 $ 80,045 $ 90,352 116 86 864 19,084 19,084 24,087 30,047 9,521 - 0 - 19,084 4,900 99,993 114,439 200,170 164.400 104,738 456,920 15,154 3,794,550 2,323,366 164,400 104.738 456,920 - 0 - 15,154 3,994,720 2,323,366 1_124,.447 114 259456 920 19,084 20,054 $4,094,713 $2,437,805 -27- CITY OF DIAMOND BAR, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS Year Ended June 30, 1992 REVENUES Franchises Special Assessments Intergovernmental Revenues Fines and' Forfeits Use of Money and Property Developer Fees TOTAL REVENUES. EXPENDITURES General Government - Nondepartmental Public Works Capital Outlay TOTAL EXPENDITURES EXCESS OF REVENUES OVER (UNDER), EXPENDITURES OTHER FINANCINGSOURCES (USES) Operating Transfers In (Out) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCES -BEGINNING OF YEAR FUND BALANCES -END OF YEAR SCHEDULE 4 Page 1 Traffic Gas Prop. A 7,116 Park Fees 19,118 957 Safety Tax Transit Solid Waste Fund SB821 A.D. No.38 $ $ $ $ 83,238 $ $ $ 237,445 1,239,150 513,125 111,507 74,061 2,754 125,858 33,416 602 398 1,152 2,998 179.679 76.815 1,365.008 546,541 83,840 180.077 112,659 240.443 14,840 474,130 55,110 21,560 135,760 - 0 - 14.840 474.130 76.670 - 0 - - 0 - 135.760 76,815 1,350,168 72,411 (76,81 5) (586,424) - 0 - 763,744 72,411 7,170 180,077 112,659 104,683 (8.346) 7,170 180,077 112,659 96,337 - 0 - 1,535,539 458,380 7,116 - 0 - 19,118 957 $ - 0 - $ 2,299,283 530 791 14,286 180,077 131 777 $____E7,294 MA -0 CITY OF DIAMOND BAR, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS Year Ended June 30, 1992 Franchises Special Assessments Intergovernmental Revenues Fines and Forfeits Use of Money and Property Developer Fees TOTAL REVENUES EXPENDITURES General Government - Nondepartmental Public Works Capital Outlay TOTAL EXPENDITURES EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCES -BEGINNING OF YEAR SCHEDULE 4 Page 2 -29- Prop. C OTS Air Quality Totals - Year Ended June 30 A.D. No. 39 A.D. No. 41 Transit Fund Improvement 1992 1991 $ $ $ $ $ $ 83,238 $ 39,685 101,383 127,541 466,369 422,038 456,920 76,669 24,601 2,421,972 2,006,097 74,061 219,628 11,881 5,092 353 184,504 189,890 179.679 113,264 132,633 456.920 76,669 24,954 3,409,823 2,877,338 9,800 553,880 701,884 153,357 113,070 423,747 367,480 12.588 76,669 89,257 109,316 165,945 113,070 - 0 - 76,669 9,800 1,066,884 1,178,680 (52,681) 19,563 456,920 - 0 - 15,154 2,342,939 1,698,658 (671,585) (698,849) (52,681) 19,563 456,920 - 0 - 15,154 1,671,354 999,809 217,081 85,175 - 0 - - 0 - - 0 - 2,323,366 1,323,557 164,400 $ 104,738 $ 456,920 $ -0 - $ 15,154 $ 3,994,720 $ 2,323,366 -29- CITY OF DIAMOND BAR, CALIFORNIA COMBINING BALANCE SHEET ALL CAPITAL PROJECT FUNDS June 30, 1992 SCHEDULE 5 Grand Traffic Capital Totals - June 30 Avenue Miti ation Improvement 1992 1991 ASSETS ASSETS Cash $497,269 $ 339,482 $ 85,125,876 921 ,180 $ $ 992 TOTAL ASSETS 142Z,269 $ 339,482 $ 85,1 $921,876 $992,180 LL&BILITIES Accounts Payable Accrued Liabilities TOTAL LL&BILITIES' FUND BALANCES Reserved for Encumbrances Unreserved 7 Undesignated TOTAL FUND BALANCES TOTAL LIABILITIES AND FUND BALANCES LIABILITIES AND FUND BALANCES $ 9,831 $ 26,928 $ 32,204 $ 68,963 $ 69,320 49 49 9,880 26,928 32,204 69,012 69.320 31,537 31,537 6,962 487,389 281,017 52,921 821,327 915,898 487,389 312,554 52,921 852,864 922.860 497 269 $ 339,482 $ 85,125921 876 992 180 — -30- CITY OF DIAMOND BAR, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL CAPITAL PROJECT FUNDS Year Ended June 30, 1992 REVENUES Intergovernmental Revenues Use of Money and Property Other Revenues TOTAL REVENUES EXPENDITURES Public Works Capital Outlay TOTAL EXPENDITURES EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCES - BEGINNING OF YEAR FUND BALANCES - END OF YEAR so 101 Ulff Grand Traffic Capital Totals - Year Ended June 30 Avenue Mitigation Improvement 1992 1991 $ $ $ $ $ 862,523 10,000 2,921 12,921 6,429 50,000 50,000 25,020 - 0 - 10,000 52,921 62,921 893,972 21,942 21,942 53,852 81,122 29,853 83,783 194,758 610,306 103,064 29,853 83,783 216,700 664,158 (103,064) (19,853) (30,862) (153,779) 229,814 83,783 83,783 79,062 (103,064) (19,853) 52,921 (69,996) 308,876 590,453 332,407 -0- 922,860 613,984 487 389 $ 312,554 $ 52,921 $ 852,864 $ 922,860 -31-