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Home My WebLink AboutCAFR - FY 1990-91Year Ended June 30, 1991 THOMAS, BYRNE & SMITH AN ACCOUNTANCY CORPORATION CERTIFIED PUBLIC ACCOUNTANTS RIVERSIDE, CALIFORNIA Donald L. Thomas, C.P.A. D. Richard Byrne, C.P.A. V. C. Smith, Jr., C.P.A. Jerry D. Bigbie, C.P.A. City Council City of Diamond Bar Diamond Bar, California THOMAS, BYRNE & SMITH AN ACCOUNTANCY CORPORATION CERTIFIED PUBLIC ACCOUNTANTS Compliance Report Based on, an Audit of General Purpose Financial Statements Performed in Accordance With Government Auditing Standards 4201 Brockton Avenue, Suite 100 Riverside, California 92501 Telephone (714) 682-4851 Telecopier (714) 682-6569 We have audited the general purpose financial statements of the City of Diamond Bar, California, as of and for the year ended June 30, 1991, and have issued our report thereon dated September 25, 1991. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. Compliance with laws, regulations, contracts, and grants applicable to the City of Diamond Bar, California, is the responsibility of the City's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the City's compliance with certain provisions of laws, regulations, contracts, and grants. However, our objective was not to provide an opinion on overall compliance with such provisions. The results of our tests indicate that, with respect to the items tested, the City of Diamond Bar, California, complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the City had not complied, in all material respects, with those provisions. This report is intended for the information of management. This restriction is not intended to limit the distribution of this report, which is a matter of public record. September 25, 1991 For all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk. Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. However, we noted certain matters involving the internal control structure and its operation that we have reported to the management of the City of Diamond Bar, California, in a separate communication dated September 25, 1991. This report is intended for the information of management. This restriction is not intended to limit the distribution of this report, which is a matter of public record. September 25, 1991 CITY OF DIAMOND BAR CALIFORNIA ANNUAL AUDIT REPORT Year Ended June 30, 1991 TABLE OF CONTENTS I. Independent Auditors' Report II. 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 III. 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 Number 3 4 5 6 - 17 18 19 20 21 22 23 Donald L. Thomas, CPA D. Richard Byrne, CPA V. C. Smith, Jr., CPA Jerry D. Bigbie, CPA City Council City of Diamond Bar Diamond Bar, California THOMAS, BYRNE & SMITH AN ACCOUNTANCY CORPORATION CERTIFIED PUBLIC ACCOUNTANTS INDEPENDENT AUDITORS' REPORT 4201 Brockton Avenue, Suite 100 Riverside, California 92501 (714) 682-4851 Fax (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, 1991, 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, 1991, 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 financial 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 25, 1991 Assets and Other,Debits d Cash (Notes 1 and 3) Accounts Receivable Interest Receivable Due From Other Funds (Note 4) Due From Other Governments Fixed Assets (Notes 1 and 5) Other Debits Resources Available for Long -Term Obligations Total Assets and Other Debits Liabilities. Equity and Other Credits Liabilities Accounts Payable Interest Payable Accrued Liabilities Due To Other Funds (Note 4) Deposits (Note 11) Claims And Judgements Payable (Note 6) Deferred Revenue Tax And Revenue Anticipation Notes Payable Long -Term Obligations (Notes 7, 8, and 9) Total Liabilities Equity and Other Credits Investment in General Fixed Assets Retained Earnings Unreserved - Undesignated Fund Balances (Note 10) Reserved For Encumbrances Reserved For Debt Service Unreserved - Undesignated Total Equity and Other Credits Total Liabilities. Equity and Other Credits $ 849,519 $ 90,352 $ 69,320 $ $ $ 56,549 6,380 127,795 26,051 24,087 71,621 1.066,294 114,439 69.320 -0- 71,621 2,486,894 239,835 138,752 6,962 554,236 2,200,322 2,323,366 915,898 2,893,310 2,323,366 922,860 239,835 -0- 2,486,894 $ $ 1,009,191 $ 899,784 CITY OF DIAMOND BAR CALIFORNIA 158,309 56,549 26,336 24,087 255,861 COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS 20,972 127,795 EXHIBIT 1 26,051 June 30, 1991 Fiduciary Proprietary Fund Totals - Governmental Fund Types Fund Types Types Account Groups (Memorandum Only) Special Capital Liability Trust And General Long -Term June 30 General Revenue Proiect Insurance Agency Fixed Assets Obligations 1991 1990 $ 3,376,121 $ 2,282,110 $ 992,180 $ 237,720 $ 71,621 $ $ $ 6,959,752 $ 7,123,514 52,562 6,656 59,218 80,972 77,908 56,545 2,115 136,568 154,342 24,087 24,087 255,861 428,926 92,494 521,420 775,020 2,486,894 2,486,894 2,272,734 554.236 554,236 527.815 $ 3.959,604 $ 2.437,805 $ 992,180 $ 239,835 S 71.621 S 2,486,894 $ 554.236 $ 10.742.175 $ 11.190.258 $ 849,519 $ 90,352 $ 69,320 $ $ $ 56,549 6,380 127,795 26,051 24,087 71,621 1.066,294 114,439 69.320 -0- 71,621 2,486,894 239,835 138,752 6,962 554,236 2,200,322 2,323,366 915,898 2,893,310 2,323,366 922,860 239,835 -0- 2,486,894 $ $ 1,009,191 $ 899,784 158,309 56,549 26,336 24,087 255,861 78,001 20,972 127,795 50,100 26,051 3,000,000 554,236 554.236 527.815 554.236 1,875,910 4,939,177 2,486,894 2,272,734 - 239,835 129,812 145,714 78,529 554,236 527,815 5,439,586 3,242,191 8,866,265 6,251,081 $ 3,959,604 S 2.437,805 $ 992,180 $ 239,835 $ 71,621 $ 2,486,894 $ 554.236 $ 10,742,175 $ 11,190,258 The accompanying notes are an integral part of this statement. - 1 - CITY OF DIAMOND BAR, CALIFORNIA COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES Year Ended June 30, 1991 Revenues Taxes Special Assessments Licenses and Permits Intergovernmental Fines And Forfeits Use Of Money And Property Miscellaneous Total Revenues Expenditures General Government - Departmental General Government - Nondepartmental Public Safety Public Works Parks, Recreation and Culture Capital Outlay Debt Service: Principal Retirement 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 EXHIBIT 2 _ 519.787 982,316 1,910,994 $ 2,893,310 (698.849) 999,809 1,323,557 $ 2,323,366 The accompanying notes are an integral part of this statement. - 2 - 79.062 308,876 613.984 $ 922.860 (100,000) 2,291,001 3,848,535 $ 6,139,536 (125,000) 2,173,479 1,675.056 $ 3,848,535 Totals - (Memorandum Only) Special Capital Year Ended June 30, General Revenue Pro ect 1991 1990 $ 4,369,617 $ 39,685 $ $ 4,409,302 $ 3,497,401 409,454 422,038 422,038 841,525 597,771597,771 3,124,661 2,006,097 862,523 5,993,281 5,271,606 193,852 62,263 219,628 6,429 281,891 506,081 440,520 309,762 189,890 25,020 55,307 8,313 30,287 8,494,361 2,877,338 893,972 12,265,671 10,662,671 2,105,451 1,412,517 2,105,451 515,418 701,884 1,217,302 1,096,923 3,500,879 3,235,362 3,600,879 976,169 367,480 53,852 1,397,501 1,143,795 603,997 357,604 603,997 229,918 109,316 610,306 949,540 1,027,049 90,842 8,031,832 1,178,680 664,158 9,874,670 8,364,192 462,529 1,698,658 229,814 2,391,001 2,298,479 _ 519.787 982,316 1,910,994 $ 2,893,310 (698.849) 999,809 1,323,557 $ 2,323,366 The accompanying notes are an integral part of this statement. - 2 - 79.062 308,876 613.984 $ 922.860 (100,000) 2,291,001 3,848,535 $ 6,139,536 (125,000) 2,173,479 1,675.056 $ 3,848,535 The accompanying notes are an integral part of this statement. - 3 - CITY OF DIAMOND BAR CALIFORNIA STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - EXHIBIT 3 COMBINED GENERAL SPECIAL REVENUE AND CAPITAL PROJECT FUND TYPES - Year Ended June 30, 1991 Special Revenue Funds Capital Prosect Funds General Fund Variances - Variances - Variances - Favorable Favorable Actual Favorable (Unfavorable)Budget Actual SUn£avorable) Budget Actual (U nfa___�,v__orable) Budget Revenues$ $ 3,950,000 $ 4,369,617 $ 419,617 $ 64,300 $ S (23,217) $ $ Taxes 445,255 422,038 - Special Assessments Levied Licenses and Permits 383,000 597,771 214,771 2,301,013 2,006,097 (294,916) 1,100,000 862,523 (237,477) - Intergovernmental 2,826,000 3,124,661 62,263 298,661 12,263 120,000 219,628 99,628 6,429 6,429 Fines and Forfeits 50 000 350,000 309,762 (40,238) 39,000 189,890 150,890 25,020 25.020 Use of Money and Property 1.100 30.287 29.187 -- Miscellaneous 2,877.338 (92,230) 1,100.000 893.972 (206.028) 7,560,100 8.494.361 934,261 2,969.568 Total Revenue Expenditures - General Government - 2,248,925 2,105,451 143,474 Departmental _ General Government - 452,696 515,418 (62,722) 204,241701,884 (497,643 Nondepartmental Public Safety 4,011,759 3,600,879 410,880 457,575 367,480 90,095 51,324 53,852 (2,528) Public Works Parks, Recreation and Culture 1,184,950 551,828 976,169 603,997 208,781 (52,169) 109.316 270.684 1,348,676 610.306 738.3 Capital Outlay 127.700 229,918 (10270 ,218) 380.000 546.026 1,041.816 1.178,680 (136,864) 1.400,000 664.158 735.842 Total Expenditures 8,577.858 8,031.832 _ Excess of Revenues Over529,814 462,529 1,480,287 1,927,752 1,698,658 (229,094) (300,000) 229,814 i SUnder) Expenditures (1,017,758) Other Financing Sources (Uses) 519.787 (757,346) 52,707,133) 698.849) 2,008,284 1,330,000 79.062 (1.250.938) - Operating Transfers In (Out) 1,277.133 Excess of Revenues and Other Sources $ 1,030.000 308,876 $ (721.1247 Over (Under) Expenditures and S 259.375 982,316 S 722,941 $ (779,381) 999,809 $ 1 779,190 _ Other Uses 1.323.557_ 613.984 - Fund Balances-Beginning of Year 1,910,994 - $ 2.323.366 $ 922.860 Fund Balances - End of Year $ 2,893.310 The accompanying notes are an integral part of this statement. - 3 - RM CITY OF DIAMOND BAR CALIFORNIA STATEMENT OF REVENUES EXPENSES AND CHANGES IN RETAINED EARNINGS ALL PROPRIETARY FUND TYPES Year Ended June 30, 1991 Operating Revenues Charges for Services Total Operating Revenues Operating Expenses Contractual Services Total Operating Expenses Operating Income Non Operating Revenues (Expenses) Interest Revenue Income Before Operating Transfers Operating Transfers In (Out) Net Income RetainedEarnings — Beginning of Year Retained'Earnings - End of Year The accompanying; notes are an integral part of this statement. - 4 - Internal Service Year Ended June 30 1991 1990 -0- -0- -0- -0- -0- -0- 10,023 4,812 10,023 4,812 100,000 125.000 110,023 129,812 129,812 -0- $_239,835 $ 129,812 EXHIBIT 4 CITY OF DIAMOND BAR,_ CALIFORNIA STATEMENT OF CASH FLOWS ALL PROPRIETARY FUND TYPES Year Ended June 30, 1991 Cash Flows From Operating Activities Net Cash Provided by Operating Activities Cash Flows From Noncapital Financing Activities Operating Transfers In Net Cash Provided By Noncapital Financing Activities Cash Flows from Investing Activities_ Interest On Investments Net Cash Provided By Investing Activities Net Increase In Cash and Cash Equivalents Cash and Cash Equivalents - Beginning of Year Cash and Cash Equivalents - End of Year Reconciliation of Net Operating Income to Net Cash Provided by Operating Activities Net Operating Income Net Cash Provided by Operating Activities Internal Service Year Ended June 30 1991 1990 $-0- 100.000 125.000 100.000 125,000 7,908 4.812 7.908 4.812 107,908 129,812 129,812 -0 $ 237.720 $ 129,812 EXHIBIT 5 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. - 5 - f« CITY OF DIAMOND BAR CALIFORNIA NOTES TO FINANCIAL STATEMENTS IN ORDER OF PRESENTATION Year Ended June 30, 1991 Note Description Page Number 1 Summary of Signifigant Accounting Policies 7 - 10 2 Property Tax Calendar 10 3 Composition of Cash 10 - 11 4 Interfund Receivables and Payables 11 5 General Fixed Assets 12 6 Claims and Judgements Payable 12 7 Long -Term Obligations 12 8 Compensated Absences 12 9 Advances - County of Los Angeles 13 10 Fund Balance/Retained Earnings Reserves 13 it Deposits 13 12 Joint Venture 14 13 City Employees Retirement Plan 15 - 16 14 Expenditures in Excess of Appropriations 16 15 Federal -Aid Urban Agreement 17 16 Contingencies 17 17 Subsequent Event 17 - 6 - CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 1) Summary of Significant Accounting Policies 1989 as a General Law City. The City operates under a Council -Manager form of government aenerovides The City of Diamond Bar, California was incorporated April 18, ity development (planning, building, zoning) and gene the following services: public safety (police), highways and street, parks, public improvements, communral 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 agenciesfinancially for these on the agencies iCity, and he City within the scope does not have the ability to significantly influence their management or operations. Consequently, financial informaof 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 rise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, fund are accounted for with a separate set of self -balancing accounts that comp 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: 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. - 7 - CITY OF DIAMOND BAR CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 1) Summary of Significant Accounting Policies (Continued) 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 fixed assets are valued at their estimated fair value on the date donated. 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 twoaccount 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 donot 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. All proprietary 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 governmental 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. - 8 - CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 1) Summary of Significant Accounting Policies (Continued) D) Basis of Accounting (Continued) 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. 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 XIIIB 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, 1991, 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. H) 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 C50.110, which requires that expenditures for claims c a recognms are recordzed ed it as is probable that the liability has been incurred at year end and the amount of the loss can be reasonably estimated. Accordingly, such liabilities in the financial statements. J) 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. - 9 - CITY OF DIAMOND BAR CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 1) Summary of Significant Accounting Policies (Continued) K) 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. 2) Property Tax Calendar ' Property taxes are assessed and collected each fiscal year according to the following property tax calendar: Lien date March 01 Market Category Levy date July 01 to June 30 1 2 3 Due date November 01 - 1st installment Demand Accounts* March 01 - 2nd installment Delinquent date December 10 - 1st installment State of California - LAIF April 10 - 2nd installment Under California law, property taxes are assessed and collected by the counties up to ix 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. 3) Composition of Cash 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, 1991, consisted of the following: 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. 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. - 10 - Carrying Market Category Amount Value 1 2 3 Fiscal Agent Investments $ 71,621 $ 71,621 $ $ $ 71,621 Demand Accounts* (543,469) (543,469) (543,469) (471,848) (471,848) $ (543,469) $ -0- $ 71,621 State of California - LAIF 7,431,000 7,431,000 Petty Cash 600 600 Total Cash and Investments $ 6,959,752 $ 6,959,752 * 100 Percent Insured or Collateralized The amounts of cash and investments are classified in these three categories of credit risk: 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. 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. - 10 - CITY OF DIAMOND BAR CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 3) Composition of Cash (Continued) 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 LAIF is a special fund of the California State Treasury through which local governments may pool investments. Each city may invest up to $10,000,000 in the fund ($15,000,000 as of October 1, 1991). 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 11OX of the city's deposits. California law also allows financial institutions to secure city 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 discretion, may waive the 110% collateral requirement for deposits which are insured up to $100,000 by the FDIC. 4) Interfund Receivables and Payables - $24,087 The balances due from and due to other funds as of June 30, 1991 are as follows: Due From: Due To: Traffic Safety Fund $ 24.087 General Fund $ 24.087 $ 24.087 $ 24,087 CITY OF DIAMOND BAR CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 5) General Fixed Assets -$2.486,894 Beginning New Matured Authorized Balance Activities relating to the general fixed assets are presented as follows: N/A $ 7,962 $ 26,421 $ $ 34,383 N/A Beginning Balance Additions Deletions Ending Balance General Government $ -0- $ 554,236 Furniture and Fixtures $ 63,869 $ 46,528 $ 9,912 $ 100,485 Machinery and Equipment 131,830 127,866 259,696 Total General Government 195,699 174,394 9,912 360,181 Community Services Land 1,560,000 1,560,000 d.. Improvements 517,035 49,678* 566,713 Total Community Services 2,077,035 49,678 -0- 2,126,713 Total General Fixed Assets $ 2,272,734 $ 224,072 $ 9,912 $ 2,486,894 *Includes $9,912 of reclassified assets from Furniture & Fixtures 6) Claims and Judgements Payable - $127.795 These amounts represent estimates for liability claims from Colen and Lee and 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, 1991 as determined by Colen and Lee and Carl Warren & Co., is $127,795. 7) Long -Term Obligations -,$554,236 Activities relating to long-term obligations are presented as follows: Date of Description Issue Compensated Absences Payable (Note 8) N/A Advances - County of L. A. (Note 9) 4-18-89 Totals * - Los Angeles County Treasury Pool Rate ** - As Monies Become available 8) Compensated Absences - $34.383 Years of Maturity Rates of Interest N/A N/A ** * Amount Beginning New Matured Authorized Balance Indebtedness During Year Ending Balance N/A $ 7,962 $ 26,421 $ $ 34,383 N/A 519.853 519.853 $ 527.815 $ 26,421 $ -0- $ 554,236 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. - 12 - CITY OF DIAMOND BAR CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 9) 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, 1991 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. 10) Fund Balance/Retained Earnings Reserves Reserves and designations segregate portions of fund balance and retained earnings that are not available spendable resources. The various reserves and designations established as of June 30, 1991 are described below and tabulated as follows: Reserved For: Encumbrances Debt Service Total General Capital Project Fund Funds $ 138,752 $ 6,962 554.236 $ 692.988 $ 6.962 Reserve 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, 1991. 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. Reserve 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 - $78.001 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. The following is a summary of the increases and decreases of the fund for the year ended June 30, 1991. Fund Assets, Beginning of Year $ 16,697 Deposits 51,625 Interest 3,718 Administrative Expenses (419) Fund Assets, End of Year $ 71.621 - 13 - CITY OF DIAMOND BAR CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 12) Joint Venture 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 J50.103: 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 ommissions 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. C) Condensed Financial Information of the Authority Noted below is the condensed audited balance sheet of the Authority as of June 30, 1989 and 1990: 1989 1990 Assets $38.111,067 $53,928,645 Liabilities to member cities (all current) $38,111,067 $47,028,069 Fund Equity - Reserved for Insurance Claims and Losses 6.900,576 $38,111,067 $53,928,645 As a result of operations for the year ended June 30, 1990, fund equity, reserved, increased by $6,900,576. Noted below is the condensed audited statement of revenues, expenditures, and changes in fund equity of the Authority for the year ended June 30, 1989 and 1990: 1988-89 1989-90 Revenues $ 15,639,611 $ 20,006,461 Expenditures 15,639,611 15,663,130 Excess of Revenues Over Expenditures -0- 4.343,331 Fund Equity - July 1 -0- -0- Prior Period Adjustment -0- 2,557,245 Fund Equity - June 30 $ -0- $ 6,900,576 The Authority has no long-term debt. June 30, 1991 information was not available at the date of this report. The aforementioned information is not included in the accompanying financial statements. - 14 - CITY OF DIAMOND BAR CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 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, 1991 was $703,650. The total payroll for the year was $839,777. 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 ofemployee 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, 1990. Significant actuarial assumptions used in the valuation include (a) a rate of return on the investment of present and future assets of 8.5 percent a year compounded annually, (b) projected salary increases of 5.50 percent a year compounded annually, attributable to inflation, and across the board real salary increases, (c) additional projected salary increases of 1.50 percent a year, attributable to seniority/merit, and (d) no post-retirement benefit increases. The total unfunded pension benefit obligation applicable to the City employees was $3,817 at June 30, 1990, as follows: Pension Benefit Obligation: Retirees and Beneficiaries Currently Receiving Benefits and Terminated Employees Not Yet Receiving Benefits $ 488 Current Employees: Accumulated Employee Contributions Including Allocated Investment Earnings 12,114 Employer -Financed Vested -0- Employer-Financed Non Vested 16.286 Total Pension Benefit Obligation 28,888 Net Assets Available For Benefits At Cost (Market Value = $ 28,431) 25.071 Unfunded Pension Benefit Obligation $ 3,817 Changes In The Pension Benefit Obligation From Last Year Due To: Changes in Benefit Provisions -0- Changes in Actuarial Assumptions 1,739 - 15 - CITY OF DIAMOND BAR CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 13) City Employees Retirement Plan (Defined Benefit Pension Plan) - (Continued) 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. The contribution to the system for 1991 of $97,498 was made in accordance with actuarially determined requirements computed through an actuarial valuation performed as of August 30, 1990. The contribution consisted of (a) $96,604 normal cost (13.729 percent of current covered payroll) and (b) $894 amortization of the unfunded actuarial accrued liability (0.127 percent of current covered payroll). The contributions were paid entirely by the City. Trend Information Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. Ten year trend information may be found in the California Public Employees Retirement System Annual Report. Until ten years of data are available, as many years as are available will be presented. Within the City's financial statement, three years of historical trend information are required. Until three years of data are available, as many years as are available should be presented. 1989-90 was the first year the City participated in PERS. Actuarial information for 1990-91 is unavailable. Therefore, the trend information for 1989-90 and 1990-91 is summarized as follows: 1989 - 90 1990 - 91 Net assets available for benefits expressed as a percentage of the pension benefit obligation 86.8% Unfunded (assets in excess of) pension benefit obligation, expressed as a percentage of annual covered payroll 1.92 Employer contributions expressed as a percentage of annual covered payroll. These contributions were made in accordance with actuarially determined requirements 13.8562 13.856% *Unavailable 14) Expenditures in Excess of Appropriations Excess of expenditures over appropriations in individual funds are as follows: Fund Excess Prop. A Transit Fund $ 534,514 State Park Grant Fund 1,888 Capital Improvement Fund 79,062 These were financed through beginning fund balances and revenues in excess of budget. - 16 - CITY OF DIAMOND BAR CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1991 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, 1991, 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 Event In July, 1991, $1,700,00 of Tax and Revenue Anticipation Notes were issued, with an interest rate of 5.30%. Principal of and interest on the Notes will be payable upon maturity at June 30, 1992. - 17 - Property Taxes Sales Tax Transient Occupancy Taxes Franchises Real Property Transfer Taxes Licenses and Permits Fines and Forfeits Interest Motor Vehicle In Lieu Fees Mobil Home In Lieu Fees Homeowners' Property Tax Relief Cigarette Taxes Miscellaneous Revenue From Other Governments Other Revenues Total CITY OF DIAMOND BAR CALIFORNIA GENERAL FUND STATEMENT OF REVENUES - BUDGET AND ACTUAL Year Ended June 30, 1991 - 18 - Budget Actual $ 1,200,000 $ 1,122,530 2,150,000 2,378,316 150,000 214,479 370,000 554,442 80,000 99,850 383,000 597,771 50,000 62,263 350,000 309,762 2,700,000 2,616,777 2,712 35,000 23,573 90,000 89,695 1,000 391,904 11100 30,287 $__7 560,100 $ 8,494,361 SCHEDULE 1 City Council City Attorney City Manager City Clerk Finance Community Promotion Planning Building and Safety Engineering General Government Insurance Police Fire Animal Control Public Works Community Services Parks Capital Outlay Total CITY OF DIAMOND BAR CALIFORNIA GENERAL FUND STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL Year Ended June 30, 1991 - 19 - Budget Actual $ 123,948 $ 95,586 275,000 148,851 328,750 324,945 131,430 155,381 150,337 142,594 52,916 66,760 708,260 578,019 240,000 315,378 238,284 277,937 252,696 266,853 200,000 248,565 3,814,996 3,583,520 186,763 7,359 10,000 10,000 1,184,950 976,169 961 551,828 603,036 127.700 229.918 $ 8,577,858 $ 8,031.832 SCHEDULE 2 CITY OF DIAMOND BAR CALIFORNIA COMBINING BALANCE SHEET ALL SPECIAL REVENUE FUNDS SCHEDULE 3 June 30, 1991 - 20 - Traffic Gas Prop. A State Park Totals - June 30 Assets Safety Tax Transit Solid Waste Grant SB 821 A.D. No.38 A.D. No. 39 A.D. No.41 1991 1990 Cash $ $1,490,292 $ 391,096 $ 460 $ 21,500 $ 18,771 $ 42,694 $ 225,989 $ 91,308 $2,282,110 $ 1,794,483 Accounts Receivable 6,656 6,656 Interest Receivable 2,518 33,640 12,769 347 1,019 4,415 1,837 56,545 Due From Other Governments 21.569 11.607 54.515 1.958 1.046 1.799 92.494 26.908 Total Assets $ 24.087 $1.535,539 $ 458.380 $ 7.116 $ 21.500 S 19.118 S 45,671 $ 231.450 $ 94.944 $2.437,805 $ 1.821,391 Liabilities and Fund Balances Accounts Payable $ $ $ $ $ 21,500 $ $ 44,714 $ 14,369 $ 9,769 $ 90,352 $ 241,973 Due to Other Funds 24.087 24.087 255.861 Total Liabilities 24.087 -0- -0- -0- 21.500 -0- 44.714 14.369 9.769 114,439 497.834 Fund Balances Reserved for Encumbrances Unreserved - Designated 1.535,539 458.380 7,116 19,118 957 217.081 85,175 2.323.366 20,891 1,302,666 Total Fund Balances -0- 1.535.539 458,380 7,116 -0- 19.118 957 217.081 85.175 2.323,366 1.323,557 Total Liabilities and Fund Balances $ 24.087 $1.535,539 $ 458.380 $ 7.116 S 21.500 $ 19.118 S 45.671 $ 231.450 $ 94,944 52.437,805 $ 1.821,391 - 20 - CITY OF DIAMOND BAR CALIFORNIA COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS Year Ended June 30, 1991 SCHEDULE 4 21 - Totals - Traffic Gas Prop, A State Park Year Ended June 30, Revenues Safety Tax Transit Solid Waste Grant SB 821 A.D. No.38 A.D. No.39 A.D. No.41 1991 1990 Franchises $ $ $ $ 39,685 $ $ $ $ $ $ 39,685 $ 201,327 96,733 123,978 422,038 409,454 Special Assessments Intergovernmental Revenues 1,115,577 709,266 162,545 18,709 2,006,097 2,172,836 219,628 144,253 Fines and Forfeits 219,628 Use of Money and 6.090 108,840 47,452 409 3.279 17.961 5.859 189,890 123.2 27 Property Total Revenues 225.718 1,224,417 756.718 39,685 162,545 191118 204.606 114,694 129,837 2,877,338 2,849.770 Expenditures General Government - Nondepartmental 5,614 651,231 20,768 7,495 8,811 7,965 701,884 549,797 Public Works 21,801 109,617 130,781 105,281 367,480 299,814 Capital Outlay 1,888 107,428 109,316 802,028 Total Expenditures -0- 5,614 651,231 42,569 1,888 -0- 224.540 139,592 113.246 1,178,680 1,651.639 Excess of Revenues Over (Under) Expenditures 225,718 1,218,803 105,487 (2,884) 160,657 19,118 (19,934) (24,898) 16,591 1,698,658 1,198,131 Other Financing Sources (Uses) Operating Transfers In (Out) (225,718) (566,906) 10,000 83.775 (698,849) (562,042) Excess of Revenues and Other Sources Over (Under) -0- 651,897 105,487 7,116 244,432 19,118 (19,934) (24,898) 16,591 999,809 636,089 Expenditures and Other Uses Fund Balances -Beginning of Year -0- 883,642 352.893 -0- (244,432) -0- 20,891 241.979 68,584 1,323,557 687,468 Fund Balances -End of Year $ -0- $1,535,539 $ 458,380 S 7,116 $ -0- S 19,118 $ 957 $ 217,081 S 85,175 $2,323,366 $=1,323.557 21 - CITY OF DIAMOND BAR CALIFORNIA COMBINING BALANCE SHEET ALL CAPITAL PROJECT FUNDS June 30, 1991 SCHEDULE 5 - 22 - Grand Chino Hills Traffic Capital Totals - June 30, - Assets Avenue Parkway Mitigation Improvement 1991 1990 Cash $ 655,371 $ $ 332,407 $ 4,402 $ 992,180 $ 312,529 Due From Other Governments 325,978 Total Assets $ 655,371 $ -0- $ 332,407 $ 4,402 $ 992,180 S 638,507 Liabilities and Fund Balance Liabilities _ Accounts Payable $ 64,918 S S $ 4,402 $ 69,320 S 24,523 Total Liabilities 64,918 -0- -0- 4,402 69,320 24,523 Fund Balance Reserved for Encumbrances 6,962 6,962 49,489 Unreserved - Undesignated 583,491 332,407 915,898 564,495 Total Fund Balances 590,453 -0- 332,407 -0- 922,860 613,984 Total Liabilities and Yund Balances $ 655,371 $ -0- $ 332,407 $ 4,402 $ 992.180 S 638,507 - 22 - CITY OF DIAMOND BAR CALIFORNIA COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCE -- ALL CAPITAL PROJECT FUNDS Year Ended June 30, 1991 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 Grand Chino Hills Avenue Parkway $ 862,523 $ 25,020 887,543 -0- 48,682 5,170 527,441 3,803 576,123 8,973 311,420 (8,973) 229,544 (229,544) 540,964 (238,517) 49,489 238,517 S 590,453 $ -0- -23 - Traffic Capital Mitigation Improvement 6,429 6,429 79,062 -0- 79,062 6,429 (79,062) 79,062 6,429 -0- 325,978 -0- $ 332,407 $ -0- SCHEDULE 6 Totals - Year Ended June 30 1991 1990 $ 862,523 $ 400,000 6,429 25,020 893,972 400,000 53,852 87,210 610,306 24,784 664,158 111,994 229,814 288,006 79,062 308,875 288,006 613,984 325,978 $ 922,860 $ 613,984