HomeMy WebLinkAboutCAFR - FY 1994-95CITY OF DIAMOND BAR
Diamond Bar, California
I
Comprehensive Annual Financial Report
Year ended June 30, 1995
Prepared by
FINANCE DEPARTMENT
(This page intentionally left blank)
A
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
Year ended June .30, 1995
TABLE OF CONTENTS
INTRODUCTORY SECI10N:
Exhibit Page
Table of Contents
Letter of Transmittal
v
Officials of the City of Diamond Bar
xiv
Organization Chart
xv
FINANCIAL SECTION:
'Independent Auditor's Report
I
General Purpose Financial Statements:
• Combined Balance Sheet - All Fund Types and Account Groups
AA 2
• Combined Statement of Revenues, Expenditures and Changes
BB 5
in Fund Balances - All Governmental Fund Types•
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual - All Governmental
cc 6
Fund Types
• Combined Statement of Revenues, Expenses and Changes
DD 8
in Retained Earnings - Proprietary Fund Type
Combined Statement o . f Cash Flows - Proprietary Fund Type
EE 9
• Notes to Financial Statements
11
Supplemental Data:
General Fund:
• Comparative Balance Sheet A-1 28
Comparative Statement of Revenues, Expenditures and
Changes in Fund Balances A-2 29
e Revenue Detail - Budget and Actual A-3 30
9 Expenditure Detail - Budget and Actual A-4 31
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
.(Continued)
TABLE OF CONTENTS, (CONTINUED)
Exhibit Page
Special Revenue Funds:
®
Combining Balance Sheet
B-1
®
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
B-2
®
Traffic Safety Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-3
®
State Gas Tax Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-4
®
Proposition A Transit Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-5
®
Proposition C Transit Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-6
®
Solid Waste Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-7
®
Air Quality Improvement Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-8
®
Park Fees Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-9
34
36
38
39
EN
4.1
42
43
44
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS (CONTINUEDI
• Proposition A Safe Parks Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• Community Development Block Grant Fund:
Statement of Revenues, Expenditures and Changes
- in Fund Balances - Budget and Actual
• Landscape Maintenance Districts Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• AB 821 Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
Capital Projects Funds:
• Combining Balance Sheet
• Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
• Grand Avenue Capital Project Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• Traffic Mitigation Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• Capital Improvement Fund:
Statement of Revenues, Expenditures and Changes
i in Fund Balances - Budget and Actual
-iii-
Exhibit
Page
B-10
45
B-11
46
B-12 47
B-13 48
C-1 50
C-2 51
C-3 52
C-4 53
C-5 54
CITY OF DIAMOND BAR t,
Comprehensive Annual Financial Report
(Continued) 1
1
TABLE OF CONTENTS. (CONTINUED)
Exhibit Page
Agency Fund:
e Statement of Changes in Assets and Liabilities. D-1 56
General Fixed Assets Account Group:
e Comparative Schedule of General Fixed Assets - by Source E-1 58
e Schedule of General Fixed Assets - by Function and Activity E-2 59
-iv-
Table No.
STATISTICAL SECTION:
General Governmental Expenditures by Function
1
61
General Govenrmental Revenues by Source
2
62
Secured Property Tax Levies and Collections
3
63
Assessed Value of Secured and Unsecured Property
4
64
Property Tax Rates - All Direct and Overlapping Governments
5
65
Principal Taxpayers
6
66
Computation of Legal Debt Margin
7
67
Computation of Direct and Overlapping Debt
8
68
Schedule of Insurance in Force
9
69
Demographic and Miscellaneous Statistical Information
10
70
Residential and Commercial Construction
11
71
Ratio - Unreserved General Fund Balance to Annual General
Fund Expenditures
12
72
Schedule of Credits
13
73
-iv-
December 4, 1995
WWIjilim
'11 All't, 0,
21660 E. Copley Drive, Suite 100 - Diamond Bar, CA 91765-4177
(909) 860-2489 - Fax (909) 861-3117
Honorable Mayor and Members of the City Council
City of Diamond Bar
Diamond Bar, California
It is a pleasure to submit the Comprehensive Annual Financial Report of the City
of Diamond Bar for the Fiscal Year ended June 30, 1995. Responsibility for both
the accuracy of the presented data and the completeness and fairness of -the
presentation, including all disclosures, rests with the City. We believe the data
presented is accurate in all material aspects; that it is presented in a manner
designed to fairly set forth the financial position and results of operations of the
City as measured by the financial activity of its various funds and account groups;
and that all disclosures necessary to enable the reader to gain a full understanding
of the City's financial affairs have been included.
The Comprehensive Annual Financial Report is presented in three sections;
introductory, financial and statistical. The introductory section includes this
transmittal letter, the City's organizational chart and a list of principle officials.
The financial section includes general purpose financial statements and schedules,
the independent auditor's report, and the notes to the financial statements. The
statistical section includes selected financial and demographic information on a
multi-year basis.
In addition to the financial audit, the City is legally required to also conduct an
annual single audit in conformity with the provisions of the Single Audit Act of
1984 and the US Office of Management and Budget Circular A-128, Audits of
State and Local Governments. Information related to this single audit, including
the schedule of federal financial assistance, findings and recommendations, and
auditor's reports on the internal control structure and compliance with applicable
laws and regulations, are not included with this report and are issued as a separate
document.
-v-
Recycled paper
REPORTING
1 ITS SERVICES
This Comprehensive Annual Financial Report includes all funds and accountou
the City. The City directly provides a limited range of services and contracts forseveral
v
other services. The City's significant reliance on contracted services has the benefit of
reducing expenses to the citizens of the City of Diamond Bar while simultaneously
providing the City with a high degree of flexibility in responding to changing economic
conditions. Contracted services include police protection, building and safety, street
maintenance, recreation services, park maintenance, capital improvement projects,
animal control, attorney services and engineering. Staffprovided services include t
customer service, community development (which includes planning, building and safety
management, and code enforcement), public works (which includes engineering, capital
projects administration, street maintenance contract management, traffic and
transportation matters, engineering contract management, and subsidized transit ticket
sales), community services (which includes senior services, park maintenance, recreation
contract management and landscape maintenance), economic development, community
relations, grant administration, financial management and administrative management.
Allof these activities are included in this report.
Fire protection is provided by the Los Angeles County Fire District which is independent
of the City. Funds are collected through property tax bills and are disbursed directly to
the Los Angeles County Fire District by the Los Angeles County Tax Collector's Office.
Water services for the City are provided by the Walnut Valley Water District. Refuse
collection is provided by private waste collection companies. Additionally, schools are
provided by both the Walnut Valley Unified School District and the Pomona Unified
School District. Accordingly, none of these activities are included in this report.
' 1 1 1 t 1 11 .�
Located at the junction of the 57 and 60 freeways, the City of Diamond Bar is at the hub
of the Los Angeles basin transportation network. A twenty-five mile radius
encompasses Pasadena, downtown Los Angeles, Long Beach, Irvine and Riverside.
Diamond Bar is a relatively young residential community of about 56,000, situated
among the meandering hills and valleys of Brea Canyon. Many desired services can be
found in Diamond Bar's shopping and business centers. Recreational opportunities !
within the City include more than 80 acres of park facilities and an 18 hole public golf
course.
During the past few years, the City of Diamond Bar has been affected as have many
other areas of southern California by a general down turn in the economy. This past
year the economy has seen a slight rebound. This has been reflected in Diamond Bar, in
the building and sales of exclusive, upscale single-family homes. As the economy
continues to improve, it is anticipated that vacancies which exist in commercial areas
should be significantly reduced through business retention and attraction activities.
TIT
To help the City capitalize on the rebounding economy, the City's newly adopted General
Plan requires the creation of an Economic Development Strategic Plan. This plan will
concentrate on a variety of methods to enhance the City's revenue base.
MAJOR INITIATIVES
For the Year. In the FY94-95 budget, the City of Diamond Bar identified .several major
programs and projects necessary to meet increased service levels and to prepare the City
for the future requirements of its residents. The following is a list of the significant
activities which were accomplished this fiscal year.
The largest project completed this year was the reconstruction and rehabilitation of
Diamond Bar Boulevard which is one of the major thoroughfares in the City . The
section improved was an approximate two mile stretch from Brea Canyon Road to
Grand Avenue. The project was unique because it took an environmental approach by
using recycled old pavement for the road base and recycled rubber and asphalt for the
surface.
The Golden Springs Drive Landscape Medians Project was completed this. year. New.
medians were installed from the westerly city limits to Lemon Avenue. As part of the
City's plan for a uniform entry theme, the medians were constructed and landscaped to
match median work which has been previously installed on other portions of Golden
Springs Drive.
Transportation and traffic have been major sources of concern for the City. This year
the City implemented two programs in an effort to address these concerns and to serve
its citizens. The first program implemented by the City Council was the transit subsidy
program. This program offer's a 20% to 50% discount to citizens on transit passes for
Foothill Transit, Metrolink, and the MTA. The other extremely popular program
implemented by the City is the Dial -a -Cab program which offers senior and handicapped
citizens taxicab transportation at a nominal rate. Both of these programs have been
funded by Proposition A Transit Funds.
The City has implemented an ongoing traffic signal program, which is designed to place
signals at several warranted locations throughout the community. Traffic signals
installed this year include Diamond Bar Boulevard at the intersections of Fountain
Springs and Shadow Canyon, and Golden Springs at the intersections of Prospectors,
Golden Prados, & Carpio.
Faced by funding cuts and decreased hours of operation at the Diamond Bar Los
Angeles County Library Branch, the City Council voted to provide funding to the library
in an effort to maintain service levels. The City funded two additional days of service
per week and identified materials which were to be purchased and used specifically by
the Diamond Bar branch of the County Library.
-VU-
For the Future - The accompanying financial statements reflect an excellent financial
condition. This has been accomplished through a combination of sound leadership and
management; and a conservative financial approach.
Reserves have been built in anticipation of a funding loss which is anticipated to occur in
FY97-98. The City has received State subventions based upon an incorporation
population of 74,115. By law, starting in FY97-98, these subventions will be based on
the actual population which is estimated to be 56,000. The estimated loss in the General
Fund revenue could be as much as $800,000 and the loss in Gas Tax revenue could be as
much as $300,000. While programs to retain, attract and assist businesses in existing
commercial areas are beneficial, full occupancy in those commercial areas are not going
to significantly expand revenue as compared to the projected revenue shortfall.
Comparative revenue expansion, in the form of new retail commercial development is
being seriously considered. It is anticipated that the revenue shortfall will be primarily
closed through revenue expansion policies and not solely through service reduction
policies.
Fiscal Year. 1995-96 budget has addressed the issue of economic development by
allocating 100,000 to fund economic development activities, which would include a
feasibility study of a potential redevelopment agency which may further increase
economic growth opportunities within the City.
121 Q W4100)
Internal Control Structures
Management of the City is responsible for establishing and maintaining an internal
control structure designed to ensure that the assets of the City are protected from loss,
theft, or misuse and to ensure that adequate accounting data is compiled to allow for the
preparation of financial statements in conformity with generally accepted accounting
principles. The internal control structure is designed to provide reasonable, but not
absolute, assurance that these objectives are met. The concept of reasonable assurance
recognizes that (1) the cost of a control should not exceed the benefits likely to be
derived; (2) the valuation of costs and benefits requires estimates and judgements by
management.
Budgetary Controls
The City maintains budgetary controls to ensure compliance with legal provisions
embodied in the annual appropriated budget approved by the City Council. Activities of
the General Fund, Special Revenue Funds, Capital Projects Funds and Internal Service
Funds are included in the annual appropriated budget. The level of budgetary control
(that is the level at which expenditures cannot legally exceed the appropriated amount) is
established by function and activity within an -individual fund. The City also maintains an
encumbrance accounting system as on technique of budgetary control. Encumbered
amounts lapse at year-end. However, some encumbrances may be reappropriated as a
part of the following year's budget.
As demonstrated by the statements and schedules included in the Financial section of this
Report, the City meets its responsibility for sound financial management.
Accounting System
The City's accounting records for general government operations are maintained on a
modified accrual basis. Accordingly, revenues are recognized when measurable and
available, and expenditures are recognized when goods and services are received.
Accounting for the City's internal service operations are maintained on the accrual basis.
In addition, the City maintains a General Fixed Assets Account Group to account for
fixed assets acquired by the City which are not a part of the internal service funds. The
City also maintains a General Long Term Debt Account Group to record the City's long
term debt obligations including accumulated employee vacation and sick time.
General Government Functions
The following schedule presents a summary of general fund, special revenue funds, and
capital projects funds, fund revenues for the fiscal year ended June 30, 1995 and the
amount and percentage of increases or decreases in relation to prior year revenues.
INCREASE PERCENT
REVENUES
AMOUNT
PERCENT
OF TOTAL
(DECREASE)
FROM 1993-94
INCREASE
(DECREASE)
Taxes
$4,964,207
37.56%
$(17,028)
-0.34%
Special Assessments
476,148
3.60%
(22,882)
-4.81%
Licenses, Permits & Fees
881,588
6.67%
(74,247)
-8.42%
Intergovernmental
5,640,400
42.68%
131,354
2.33%
Fines and Forfeitures
253,824
1.92%
66,394
26.16%
Charges for Services
210,136
1.59%
130,521
62.11%
Interest
732,693
5.54%
266,484
36.37%
Other Revenue
56,399
0.43%
18,027
31.96%
TOTAL
$13,215.395
100.00%
$498.623
The largest revenue source for the City is intergovernmental revenue. This- category
increased this fiscal year primarily due to the exchange of Proposition A Transit funds
with another city for general fund revenues. The funds received, $207,000, have been
reserved or used in providing funding to the City's County Library branch. In addition,
this fiscal year the City received $116,100 in State grant funds for the improvements
I made to Diamond Bar Boulevard.
i Interest revenues increased due to the general increase in the City's cash balances. At the
end of FY93-94, the City's investable cash balancesvere $12,469,428 by the end of
FY94-95, the balance had increased to $14,960,154. This is an increase of $2,490,726.
FY94-95, the balance had increased to $14,960,154. This is an increase of $2,490,726.
This in addition to higher investment yields contributed to this substantial increase in
interest revenue.
Fines and Forfeiture Revenue increased significantly due to a full year's implementation
of the recovery of false alarm fees. Additionally, an increased enforcement of parking
regulations and parking fine collection resulted in an increase in parking fine revenue of
$39,647 or 82%.
The decrease in Licenses, Permits, and Fees revenue during fiscal year 1994-1995
reflects the relatively flat economy of southern California. In fiscal year 1993-94, the
City processed two multifamily residential development projects. These projects
consisted of a 32 unit condominium complex and a 54 unit apartment/condominium
conversion project. Building permits were issued in the latter part of fiscal year 1993-94
for both projects. The level of new single family residential activity has remained
consistent for the past two years. Commercial and industrial development and permit
activity, has remained low. The condominium projects referenced during fiscal year 1993-
94 created a Building Permit revenue which was higher than normal.
The following schedule presents a summary of general funds, special revenue funds, and
capital projects funds expenditures for the fiscal year ended June 30, 1995 and the
amount and percentage of increases and decreases in relation to prior years expenditures.
INCREASE PERCENT
EXPENDITURES
AMOUNT
PERCENT
OF TOTAL
(DECREASE)
FROM 1993-94
INCREASE
(DECREASE)
General Government
$1,922,452
16.08%
(533,604)
-27.76%
Public Safety
4,099,515
34.29%
279,791
6.82%
Highways and Streets
1,608,178
13.45%
1,608,178
100.00%
Public Works
2,678,261
22.40%
367,948
13.74%
Community Development
347,710
2.91%
347,710
100.00%
Parks, Recreation & Culture
1,072,288
8.97%
95,331
8.89%
Capital Outlay
117,889
.99%
(1,520,520)
-1289.79%
Debt Service
108,780
0.91%
(456,010)
-419.20%
TOTAL
$119-55-073
100.00%
188.824
Expenditures for the 1993-94 fiscal year were $11,766,249 as compared with
$11,955,073 for the 1994-95 fiscal year, an increase of $188,824, or 1.6 percent.
Included within the General Government category is the City Attorney contract services.
During the previous fiscal years, the City had been involved in several lawsuits. Fiscal
year 1993-94, saw the settlement and dismissal of most of the litigation to which the City
had been a party. As a result, City Attorney costs in fiscal year 1994-95 were $132,500,
a reduction of $272,500 from fiscal year 93-94.
a
The City contracts with the Los Angeles County Sheriffs Department for police services.
The rates for these contract services increased by 2.1% from FY93-94 to FY94-95. This
accounts for most of the increase in Public Safety expenditures in FY94-95. This fiscal
year the City implemented the Community Volunteer Patrol to supplement sheriffs
department activities. A 10% increase in the cost of animal control services which are
provided by the Pomona Valley Humane Society was another component of the increase
in Public Safety increases in the year..
In fiscal year 1993-94, the City and the County of Los Angeles settled a property tax
allocation lawsuit. Part of this lawsuit stated that the City should not pay for services
rendered (in FY88-89) by the County. This was due to the fact that the County didn't
remit revenues due the City for the same time period. The debt for the contract services
was forgiven as a part of the lawsuit settlement. Since this was a one time reduction in
the City's debt, this fiscal year's debt service requirement was much less. This fiscal year,
the City made its third payment of $100,000 plus interest for the lease purchase .
agreement with the Walnut Valley Water District for land.
Previously, the City had recorded all capital improvement projects within the Capital
Outlay category. This fiscal year street and highway improvements have been
segregated. This year the City completed one of its largest capital improvement projects
to date. This was the rehabilitation of Diamond Bar Boulevard at a cost of $1,237,293.
Fund Balances
The General Fund ended the 1994-95 fiscal year with a fund balance of $8,178,014.
This an increase of $1,294,252 or approximately an 18.8% increase from the balance at
June 30, 1994. Of this, $309,666 is reserved for encumbrances, debt service and special
programs. In addition, there is $156,894 designated for library service enhancement.
This leaves an undesignated fund balance of $7,711,454.
Agency Fund
The agency fund accounts for assets held by the City as trustee or agent. The City
presently has a deferred compensation fund which is set up to account for contributions
for employee participation in an income deferral program.
Cash Management
The City invests temporarily idle funds in accordance with the Government Code and the
investment policy approved by the City Council. During FY94-95, funds were invested
in the Local Agency Investment Fund, which is administered by the State Treasurer's
Office. The City manages all of its cash and investments on a pooled basis with the
exception of the Deferred Compensation Funds which are managed by the appointed
fiscal agents. Interest earnings are allocated to the various funds based on their share of
cash and investment balances. The average yield on investments managed by the City
was 5.52%o.
Defined Benefit Pension Plan
The City has contracted with the California Public Employees Retirement__ System __ .
(PERS) to provide retirement, disability, death and survivor benefits for all eligible full
and part-time City employees. The pension benefit obligation was computed as part of
an actuarial valuation performed as of June 30, 1994. Neither an actuarial nor an annual
update as of June 30, 1995 is available at this time. The total over -funded pension
obligation applicable to the City employees was $190,116. The City's contribution to the
system based on actuarially determined requirements was $161,644 for FY9445.
For the three years ended June 30, 1993, 1994 and 1995, the total contribution to PERS
was 13.68%, 13.34%, and 13.31%, respectively, of the annual covered payroll. The
total contribution paid by the City included employer contributions as well as member
contribution for which the City is contractually obligated to pay on behalf of its
employees.
Debt Administration
As of June 30, 1995, the City of Diamond Bar had no outstanding general obligation
bonds. In July 1992, the City entered into a land lease purchase agreement with the
Walnut Valley Water District. The term of the lease is four annual payments of
$100,000 plus interest with the option to buy at the end of the lease for $1. During
FY94-95, the third of the four payments was made. The total paid was $108,780 from
General Fund Reserves.
In fiscal year 1994-95, the City entered into a lease agreement for financing the
acquisition of a telephone system in the amouaof $22,356 to be paid in sixty monthly
installments ending in March 2000.
Risk Management
The City of Diamond Bar is a member of the Southern California Joint Powers Insurance
Authority (SCJPIA) for the purpose of pooling its general liability losses and claims with
the approximately 78 other member cities. Each member city retains the first $20,000 of
each claim. Claims above $20,000 are shared by all the member cities up to a maximum
of $10,000,000 per occurrence.
The City has also established a self insurance internal service fund to cover the City's
share of any potential losses not covered by the SCJPIA. The City Council established a
policy of annually transferring $100,000 to the fund to create a self-insurance reserve.
When the reserve reaches $1,000,000, the reserves will be deemed to be sufficient. The
self insurance reserve at June 30, 1995 was $649,314.
Acknowledgements
The preparation of this Comprehensive Annual Financial Report on a timely basis was
made possible by the dedicated service of the City's Finance Department staff, and
through the cooperation of the entire City staff. Each staff member has my sincere
appreciation for the contributions made in the preparation of this Report.
.I would also like to thank our independent auditor, Conrad & Associates, for its
expertise and advice in the preparation of the City's first -Comprehensive Annual
Financial Report.
In closing, without the leadership and support of the City Council of the City of
Diamond Bar, the preparation of this Report would not have been possible.
Sincerely,
Terrence L. Belanger
City Manager
OFFICIALS OF THE CITY OF DIAMOND BAR
__June_3.0,_1995
CITY COUNCIL
Phyllis E. Papen, Mayor
Gary H. Werner, Mayor Pro Tern
Eileen R. Ansari, Councilmember
Clair W. Harmony, Councilmember
CITY OFFICIALS
Terrence L. Belanger, City Manager
Frank M. Usher, Assistant City Manager
Michael Jenkins, City Attorney
Lynda Burgess, City Clerk
James DeStefano, Community Development Director .
Bob Rose, Community Services Director
George A. Wentz, PublicWorks Director/City Engineer
David G. Liu, Deputy Director of Public Works
Linda G. Magnuson, Accounting Manager
-xiv-
T
V N
Cc:
c
N
CD
.-0c
-
W
co
co
U
�
u
49
u
0
U
N
U
r
Q
L
�Lr
. ®
V
mo
U
U
ro
on
w
a- N
'G
91
w
w
N
�
N
y�
W
4c
•
'>
L
O
_
L
w
2
N U
y
�
�
o
U
�V)
V
U
W
�.
.=
o
�
o
,E
a)
(U
5
>1
C
= U
QE
i.+
L
cua
U
%4-
0
>.
•
a
E
W
>
W
JE
cn
U
ua2! uC
C
00
E0
cu
0
0—
U
m
U
w
c9
GL
O
(This page intentionally left blank)
l
t
f.
CERTIFIED PUBLIC ACCOUNTANTS
i
4ASSOCIATES , L.L.P. IRVINE, CALIFORNIA 92714
A PARTNERSHIP INCLUDING PROFESSIONAL CORPORATIONS (714) 474"2020
The Honorable Mayor and City Council
City of Diamond Bar
Diamond Bar, California
Independent Auditors' Report
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, 1995, as listed in the table of
contents. These general purpose financial statements are the responsibility of .the
management of the City of Diamond Bar, California. Our responsibility is. to express an
opinion on these general purpose financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards;
Government Auditing Standards, issued by the Comptroller General of the United States; and
the provisions of Office of Management and Budget Circular A-128, "Audits of State and
Local Governments." 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 aforementioned 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, 1995, and the results of its operations for the year then ended in
conformity with generally accepted accounting principles.
In accordance with Government Auditing Stand issued by the Comptroller General of'the
United States, we have also issued a report dated September 1, 1995 on our consideration of
the City's internal control structure and a report dated September 1, 1995 on its compliance
with laws and regulations.
Our audit was made for the purpose of forming an opinion on the general purpose financial
statements taken as a whole. The combining and individual fund financial statements listed
in the table of contents are presented for purposes of additional analysis and are 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.
The scope of our audit did not include the supplemental statistical schedules listed in the
table of contents and we do not express an opinion on them.
,.,-'Nw4 td/.4.
September 1, 1995
-1-
MEMBERS OF AICPA AND.CALIFORNIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS
MEMBER OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS PRIVATE COMPANIES PRACTICE SECTION
CITY OF
DIAMOND BAR
Combined Balance Sheet - All
Fund Types
and Account Groups
t
June
30, 1995
l
Proprietary
Governmental Fund
Types
Fund Types
Special
Capital
Internal
i
General
Revenue
Projects
Service
t
Assets and other debits
Assets:
Cash and investments (note 2)
$7,967,594
5,972,660
540,435
479,465'
Accounts receivable
181,919
3,210
-
-
Interest receivable
217,738
-
Due from other funds (note 9)
142,193
60,686
539,031
-
Due from other governments
1,266,036
334,575
-
-
Prepaid expenses
-
-
-
169,849
Fixed assets (note 3)
-
-
-
-
Other debits:
Amount to be provided for retirement
of general long-term debt
-
-
-
-
Total assets and other debits
$9.775.480
.371.131
x,079.466
644,314.
Liabilities equity and other credits
�.
Liabilities:
Accounts payable
$1,152,678
119,593
386,387
-
Accrued expenses
62,922.
3,298
310
-
Retentions payable
6,659
2,098
161,031
-
Deferred revenue
112,723
-
-
-
'Due to other funds (note 9)
10,991
729;694
1,225
- {
Deposits
251,493
-
-
-
Compensated absences payable (note 4)
-
-
-
-
Lease payable (notes 4 and 5)
-
-
-
-
Deferred compensation payable (note 7)
-
-
-
-
Total liabilities
1,597,466
854,683
548.953.
-
Equity and other credits:
Investment in general fixed assets
-
-
-
-
Retained earnings:
Reserved
-
-
-
169,849
Unreserved
-
-
-
479,465
Fund balances (note 6):.
Reserved for.
Debt service
225,687
-
-
-
Encumbrances
78,979
440,284
395,061
-
Specific projects and programs
.5,000
349,772
135,452
-
Unreserved:
Designated for:
Specfic projects and programs
156,894
4,726,392
Undesignated
7,711,454
-
-
-
Total equity and other credits
8,178,014
5,516,448
530,513
649.314
Total liabilities, equity
and other credits
$9.775.480
6.371,31
1.079,46614
See accompanying notes
to the financial statements.
-2-
Fiduciary Fund Type
A enc
325,131
325.131
325,131.
Account Groups
General General
Fixed Asset Lona -Term Debt
4,084,540
4,084,540
4,084..540
���
225.687
225.6$7-
103,922
121,765
225.687
-3-
225,681
Exhibit AA
Totals
(Memorandum Only)
1995 1994
15,285,285
12,703,441
185,129
133,514
217,738
135,950
741,910
150,118
1,600,611
2,326,958
169,849
163,416
4,084,540
4,007,664
225,687 289.384
22.510.749 19,91 ,445
1,658,658
1,239,661
66,530
106,977
169,788
-
112,723
-
741,910
150,118
251,493
105,129
103,922
89,384
121,765
200,000
325,131
234.013
3 551.920
2,125,282
4,084,540
4,007.664
169.,849
575,732
479,465
-
225,687
289,384
914,324
289,333
490,224
.405.137
4,883,286
823;605
7,711,454
11.324j
18 958.829
17.785.14
22,510,749
12.910_$aS
(This page intentionally left blank)
MIM
Exhibit BB
CITY OF DIAMOND BAR
Combined Statement of Revenues, Expenditures and Changes in. Fund Balances -
All Governmental Fund Types
Year ended June 30, 1995
r
Expenditures:
General government
Public safety
Highways and streets
Public works
Community development
j Parks; recreation and
culture
Capital outlay
Debt service:
1 Principal
Interest
Total expenditures
Excess (deficiency)
of revenues over
expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Proceeds of capital lease
1,922,452 - - 1,922;452 2,456,056
4,099,515 - - 4,099,515 3,819,724
327,168 1,281,010 1,608,178 -
1,123,633 701,265 853,363 2,678,261 2,310,313
- 111,141. 236,569 347,710 -
1,027,979 44,309
67,884 8,712
8,241,463 1,192,595
1,072,288 97.6,957
41,293 117,889 1,638,409
100,000 100,000 550,000
8,780 8.780 14,790
2,521, 11 955.073 11 766.249
905,389 2 691.503 (2,336,. 1,260,322 950,523
750,186 10,992 2,332,488 3,093,666 1,520,722
(383,679) (2,969,457) - (3,323,136) (1,668,117)
22.356 - - -
Total other financing
sources (uses) 388,863 (2,958.4 2,332,488 (237.114) (147,395)
Excess (deficiency) of
I revenues over expenditures
and other financing
sources (uses) 1,294,252 (266,962) (4,082) 1,.023,208 803,128
Fund balances at beginning
of year 6,883,762 5,783,410 534.595 13 201.767 12 398.639
Fund balances at end of year $8.178,014.516.4.4 -�M 14,224 975 13,201.767
See accompanying notes to the financial statements.
(_ -5-
Totals
Special
Capital
(Memorandum Only
General
Revenue
Projects
1995
1994
Revenues:
$4,964,207
-
-
4,964,207
4,981,235
Taxes
Special assessments
-
748,198
476,148
74,190
-
59,200
476,148
881,588
499,030
955,835
Licenses, permits and fees
Intergovernmental
2,859,755
2,664,545
.116_100
5,640,400
5,509,046
Fines and forfeits
130,253
-
123,571
210,136
253,824
210,136
187,430
79,615
Charges for services
393,439
330,109
9,145
732,693
466,209.
Interest
51,000
5.399
-
56,399
38.372
Other revenue
Total revenues
9,146.85
3 884,098
184:445
13.215,,
12,716.772
r
Expenditures:
General government
Public safety
Highways and streets
Public works
Community development
j Parks; recreation and
culture
Capital outlay
Debt service:
1 Principal
Interest
Total expenditures
Excess (deficiency)
of revenues over
expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Proceeds of capital lease
1,922,452 - - 1,922;452 2,456,056
4,099,515 - - 4,099,515 3,819,724
327,168 1,281,010 1,608,178 -
1,123,633 701,265 853,363 2,678,261 2,310,313
- 111,141. 236,569 347,710 -
1,027,979 44,309
67,884 8,712
8,241,463 1,192,595
1,072,288 97.6,957
41,293 117,889 1,638,409
100,000 100,000 550,000
8,780 8.780 14,790
2,521, 11 955.073 11 766.249
905,389 2 691.503 (2,336,. 1,260,322 950,523
750,186 10,992 2,332,488 3,093,666 1,520,722
(383,679) (2,969,457) - (3,323,136) (1,668,117)
22.356 - - -
Total other financing
sources (uses) 388,863 (2,958.4 2,332,488 (237.114) (147,395)
Excess (deficiency) of
I revenues over expenditures
and other financing
sources (uses) 1,294,252 (266,962) (4,082) 1,.023,208 803,128
Fund balances at beginning
of year 6,883,762 5,783,410 534.595 13 201.767 12 398.639
Fund balances at end of year $8.178,014.516.4.4 -�M 14,224 975 13,201.767
See accompanying notes to the financial statements.
(_ -5-
X I VAli�11 i,' a
Combined Statement of Revenues, Expenditures and Changes in Fund Balance -
Budget and Actual
All Governmental Fund Types
Year ended June 30, 1995
Revenues:
Taxes
Special assessments
Licenses, permits and fees
Intergovernmental
Fines and forfeits'
Charges for services
Interest
Other revenues
Total revenues
Expenditures:
General government
Public safety
Highways and streets
Public works
Community development
Parks, recreation and culture
Capital outlay
Debt service:
Principal
Interest
Total expenditures
'Excess (deficiency) of
revenues over (under)
expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Proceeds of capital lease
Total other financing
sources (uses)
General
2,122,865 1,922,452 200,413
4,143,130 4,099,515 43,615
1,395,974 1,123,633 272,341
1,243,805 1,027,979 215,826
93,735 67,884 25,851
8,999,509 8,241,463 758,046
617,791 905,389 287.,598
767,915 750,186 (17,729)
(383,416) (383,679) (263)
22,356 22,356
384,499 388,863 4,364
Excess (deficiency) of
revenues and other
financing sources over
(under) expenditures
and other financing uses 1,002,290 1,294,252 291,962
Fund balances at beginning of year 6,883,762 6,883,762
Fund balances at end of.year $7,886,052
- 8,178.014 291.92
See accompanying notes to the financial statements.
-6-
Variance
Favorable
Budget
Actual
(Unfavorable)
$5,751,000
4,964,207
(786,193)
771,100
748,198
(22,902)
2,657,700
2,859,755
202,055
124,000
130,253
6,253'
280,000
393,439
113,439
33,500
51,000
17,500
9,617,360
9,146,852
(470,448)
2,122,865 1,922,452 200,413
4,143,130 4,099,515 43,615
1,395,974 1,123,633 272,341
1,243,805 1,027,979 215,826
93,735 67,884 25,851
8,999,509 8,241,463 758,046
617,791 905,389 287.,598
767,915 750,186 (17,729)
(383,416) (383,679) (263)
22,356 22,356
384,499 388,863 4,364
Excess (deficiency) of
revenues and other
financing sources over
(under) expenditures
and other financing uses 1,002,290 1,294,252 291,962
Fund balances at beginning of year 6,883,762 6,883,762
Fund balances at end of.year $7,886,052
- 8,178.014 291.92
See accompanying notes to the financial statements.
-6-
I
Budget
|
Actu
--
avorable-I
Budget
Actual.
(Unfavorable)
478,966
`
93 OOO
4�6 I48
,
74 lgO
`
(2,0I0)
`0 8lO'
(18,810)
,l , )
-
G5 �0O
,
-
59 3OO
,
-
(6,300)
| `
� 4,@6O,5O6
3,664,545
(2,Iq5,96l,)
116,100
116 ,100
-
75,008
- 123,571
48,571
-
-
-
|
|
27!�OUO
"
l�Q 03O
`
�I�,l3�
33� l09
,
(65,864)
`�I 259'
l ~~`~~^
-
-
-
9 I4�
,
-
9 l45
,
_
,3�9
___-�=
_
_
______�
_____
�
________
(2,068,)
181,600
184A45
2,845
� 3IO OO�
3Z7 l60
`
(l7,I60
`'
��727,3OI
I,301,010
446,291
"
687,650
70I �G�
`
�3
( ,6l�)
--
�I3 467
2, ,
0�� 3G�
,
l 76O 104
" ^
/ `
151,230
111,141
40,089
549 �lO
,
236 569
,
3�� , 94l
/
122,000
l6`079
� ,
.44 ,309
0`7I�
'
77,691
�,l67
-
I,92O,293
-
4l,293
-
I,gI6,l0O
| | -
-
_
100,000
lOO
-
-
8^780
8,-�80
`
�
| 4,664,563
2,691.,503
\
( ,
( l
`1��=1��L��.
(2,336, \
��u
���}}".
10,992
10,992
6,025,920
2,332,480
(3,693.440)
` (6,446,260)
(2,969,457)
3,476,803
- ^
-
-
( )
� |
�.'
(2,958.46\
3"487,795
6,1�
��2,332,..488(3,693,440)��
| |
\ |
'^
(1, 781,697)
(266,962)
�1,5I4,735
(7II,023)
(4,002)
787,74l
|
| �
� | =~=-�~-�
-
__5J4^���
-----�---
--53t�595
--------
�
1,514.7
(177,2
53 ..Sn
.~m
|
� ' |
-7-
Exhibit DD
CITY OF DIAMOND BAR
Combined Statement of Revenues, Expenses and Changes in Retained Earnings -
Proprietary Fund Type
Year ended June 30, 1995
Retained earnings at end of year
See accompanying notes to the financial statements.
-8-
Internal
Service
1995
1994
Operating expenses:
Insurance premiums
$208,467
89,000
Total operating expenses
208,467
89,000
Operating income (loss)
(208,467)
(89,000)
Nonoperating revenues (expenses):
Nonoperating revenues:
Interest revenue
22,579
16,682
Total nonoperating revenues (expenses).
22,579
16,682
Income (loss) before operating transfers
(185,888)
(72,318)
Transfer from other funds:
General fund
259,470
187,395
Net income
73,582
115,077
Retained earnings at beginning of year
.575,732
460,655
Retained earnings at end of year
See accompanying notes to the financial statements.
-8-
Exhibit EE
CITY OF DIAMOND BAR
Combined Statement of Cash Flows - Proprietary Fund Type
Year ended June 30, 1995
Internal Service
1995 1994
Cash flows from operating activities:
Insurance payments
$(214,900)
(252,416)
Net cash provided by (used for)
operating activities
214 900)
-(252,416)
Cash flows from noncapital financing activities:
Transfer from other fund
259,470
187,395
Net cash provided by non -capital
financing activities
259,470
187,395
Cash flows from investing activities:
Interest earned on investments
22,579
16,682
Net cash provided by investing activities
22,579
16,682
Net increase (decrease) in cash and cash equivalents
67,149
(48,339)
Cash and cash equivalents at beginning of year
412,316
460,655
Cash and cash equivalents'at end of year
$479,465
412,316
Reconciliation of net operating income to
net cash provided by (used for) operating
activities:
Operating income (loss)
208,467)
(89,000)
Adjustments to reconcile operating income
to net cash provided by (used for)
operating activities:
Increase in prepaid insurance
-
(163,416)
Decrease in accounts payable
(6,433)
Net cash provided by (used for)
operating activities
$(24,900)
(�)
See accompanying notes to the financial statements.
i
-9-
(This page intentionally left blank)
-10-
CITY OF DIAMOND BAR
Notes to Financial Statements
Year ended June 30, 1995
(1) Summary of Significant Accounting Policies
(a) Description of the Reporting Entit
The City of Diamond Bar was incorporated April 18, 1989 under the general laws
of the State of California. The City operates under the Council - Manager form
of government and provides the following services as authorized by its general
laws: Public Safety (police), Highways and Streets, Park Facilities, Public
Improvements, Community Development (planning, building, zoning) and General
Administrative Services.
As required by generally accepted accounting principles, these financial
statements present only the City of Diamond Bar, which has no component units.
The City is considered to be financially accountable for an organization if the
City appoints a voting majority of that organization's governing body and the
City is able to impose its will on that organization or there is a potential for that
organization to improve specific financial benefits to or impose specific financial
burdens on the City. The City is also considered to be financially accountable for
an organization if that organization is fiscally dependent (i.e., it is unable to
adopt its budget, levy taxes, set rates or charges, or issue bonded debt without
approval from the City). In certain cases, other organizations are included as
component units if the nature and significance of their relationship with the City
are such that their exclusion would cause the City's financial statements to be
misleading or incomplete.
(b) Fund Accounting
The basic accounting and reporting entity is a "fund." A fund is defined as an
independent fiscal and accounting entity h a self -balancing set of accounts,
recording resources, related liabilities, obligations, reserves and equities.
with
segregated for the purpose of carrying out specific activities or attaining certain
objectives in accordance with special regulations, restrictions or limitations.
The accounting records of the City are organized on the basis of. funds and
account groups classified for reporting purposes as follows:
GOVERNMENTAL FUNDS
General Fund
The General Fund is the general operating fund of the City. All general tax
revenues and other receipts that are not allocated by law or contractual
agreement to some other fund are accounted for in this fund. Expenditures of
this fund include the general operating expenses and capital improvement costs
which are not paid through other funds.
-11-
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
Summary of Significant Accounting Policies, (Continued)
Special Revenue Funds
The Special Revenue Funds are used to account for proceeds of specific revenue
sources that are restricted by law or administrative action for specific purposes.
Capital Project Funds
Capital Project Funds are used to account for financial resources to be used for
the acquisition, construction or improvements of major capital facilities and
infrastructure.
PROPRIETARY FUNDS
Internal Service Fund
The Internal Service Fund is used to account for goods and services provided by
one department to other departments on a cost reimbursement basis.
FIDUCIARY FUNDS
Agency Funds
Agency Funds are custodial in nature and account for assets that the City holds
for others in an agency capacity.
ACCOUNT GROUPS
General Fixed Assets Account Group
The General Fixed Assets Account Group is used to account for the costs of fixed
assets acquired to perform general government functions.
Assets purchased are recorded as expenditures in the governmental funds and
capitalized at cost in the general fixed assets account group. Contributed fixed
assets are recorded in general fixed assets at fair market value when received.
Fixed assets acquired under a capital lease are recorded at the net present value
of future lease payments.
-12-
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
11 Summary of Significant Accounting�Policies (Continued
Fixed assets consisting of certain improvements other than buildings, including
roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and
lighting systems, have not been capitalized. Such assets normally are immovable
and of value only to the City. Therefore, the purpose of stewardship for capital
expenditures is satisfied without recording these assets.
No depreciation has been.provided on general fixed assets.
General Lone Term Debt Account Grouu
The General Long -Term Debt Account Group is used to account for all long-term
debt of the City, except that accounted for in the proprietary funds.
(c) Measurement Focus and Basis of Accounting
Governmental (general, special revenue, and capital projects) fund types are
accounted for on a "spending" measurement focus. Accordingly, only current
assets and current liabilities are included on their balance sheets. The reported
fund balance provides an indication of available, spendable resources. Operating
statements for governmental fund types report increases (revenues) and
decreases (expenditures) in available spendable resources.
Agency funds are custodial in nature (assets equal liabilities) and do not involve
measurement of results of operations.
The modified accrual basis of accounting is followed by the governmental and
agency funds. Under the modified accrual basis of accounting, revenues are
susceptible to accrual when they become both measurable and available.
Available means collectible within the current period or soon enough thereafter
to be used to pay liabilities of the current period. Expenditures, other than
interest on long-term debt, are recorded when a current liability is incurred.
Liabilities are considered current when they are normally expected to be
liquidated with expendable available financial resources.
Taxes, subventions, entitlements, and taxpayer -assessed tax revenues held at
year-end by an intermediary collecting government are recognized as revenue
under the modified accrual basis of accounting. Reimbursement grant revenues
are recognized when the related expenditures are incurred: Revenues from the
use of money and property are recorded when earned.
Licenses, permits, fines, forfeitures, charges for services, and miscellaneous
revenues are recorded as governmental fund revenues when received in cash
because they are generally not measurable until actually received.
-13-
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
(d) Budgetary tory Data
The City adopts an annual budget prepared on the modified accrual basis for all
of its governmental funds. The City Manager or his designee is authorized to
transfer budgeted amounts between the accounts of any department. Revisions
that alter the total appropriations of any department or fund and adjustments
greater than $10,000 are approved by City Council. Prior year appropriations
lapse unless they are reappropriated through the formal budget process.
Expenditures may not legally exceed appropriations at the fund level. During the
year, there were supplemental budgetary appropriations amounting to $924,607.
(e) Interfund Transfers
Nonrecurring transfers of equity between funds are reported as an adjustment to
beginning fund balance. Operating transfers are reported as other sources and
uses of funds in the statement of revenues, expenditures, and changes in fund
balance.
(f) 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 control in the governmental funds. Encumbrances outstanding at
year-end do not constitute expenditures or liabilities, but are reported as
reservations of fund balance.
(g) Investments
Investments are valued at cost. An estimated loss is accrued for an impairment
of investment market value when it is probable that the loss will become realized
and the amount of loss can be reasonably estimated.
(h) Cash Equivalents
For purposes of the statement of cash flows, cash equivalents are defined as
short-term, highly liquid investments that are both readily convertible to known
amounts of cash or so near their maturity that they present insignificant risk of
changes in value because of changes in interest rates. Cash equivalents also
represent the proprietary funds' share in the cash and investment pool of the City
of Diamond Bar.
-14-
z
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies (Continued)
(i) Due from Other Governments
The amounts recorded as a receivable due from other governments include sales
taxes, property taxes, and grant revenues, collected or provided by Federal,
State, County, and City Governments and unremitted to the City as of June 30,
1995. The County of Los Angeles assesses, bills, and collects property taxes for
the City.
(j) Employee Leave Benefits
Vacation and sick leave time begin to accumulate as of the first day of
employment to a maximum of 160 hours. Employees who accumulate sick leave
in excess of 160 hours are paid for the excess annually at one half the -employee's
current wage rate.
(k) Claims and Judgments
The City records a liability for material litigation, judgments, and claims
(including incurred but not reported losses) when it is probable that an asset has
been impaired or a material liability has been incurred prior to year end and the
probable amount of loss (net of any insurance coverage) can be reasonably
estimated.
(1) Capital Projects
Capital projects expenditures include public domain or infrastructure projects
which are not capitalized as additions to general fixed assets.
(m) Postemplovment Benefits
The City does not provide postemployment benefits (other than pension benefits)
for its employees.
(n) Property Tax Calendar
The County of Los Angeles assesses, levies, and collects property taxes for the
City. Property taxes levied for the year ended June 30, 1995 were
due and
payable in two installments on November 1, 1994 and February 1, 1995 and
became delinquent on December 10; 1994 and April 10, 1995, respectively.
-15-
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies. (Continued)
(o) Fixed Assets
Fixed assets are not capitalized in the funds used to acquire or construct them.
Instead,. capital acquisition and construction are reflected as expenditures in
governmental funds, and 'ihe related assets are reported in the'-gerieral fixed
assets account group. All purchased fixed assets are valued at cost where
historical records are available and at an estimated historical cost where no
historical records exist. Donated fixed assets are valued at their estimated fair
market value on the date received.
The costs of normal maintenance and repairs that do not add to the value of the
asset or materially extend asset lives are not capitalized. Improvements are
capitalized and depreciated over the remaining useful lives of the related fixed
assets, as applicable.
Public domain ("infrastructure") general fixed assets consisting of roads, bridges,
curbs and gutters, streets and sidewalks, drainage systems and lighting systems
are not capitalized, as these assets are immovable and of value only to the
government.
Assets in the general fixed assets account group are not depreciated.
(p) 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. Certain minor reclassifications of prior year data
have been made in order to enhance their comparability with current year figures.
(q) Memorandum Only Totals
Columns in the accompanying financial statements captioned "Totals
(Memorandum Only)" are not necessary for a fair presentation of the financial
statements in accordance with generally accepted accounting principles, but are
presented as additional analytical data. Interfund balances and transactions have
not been eliminated and the columns do not present consolidated financial
information.
(2) Cash and Investments
Cash and investments held by the City at June 30, 1995 consisted of the following:
Petty cash
Deposits
Investments
Total
-16-
Carrvina Amount
$ 675
192,775
15.091,835
15.285.285
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
(2) Cash and Investments (Continued)
The City is generally authorized under Section 53601 of the California Government
Code and the City's investment policy to invest in the following types of investments:
Demand deposits with financial institutions
Savings accounts
Certificates of deposit
U.S. Treasury Securities
Bankers' acceptances
Commercial paper
California Local Agency Investment Fund
Repurchase Agreements
Deferred compensation investments held it
include investments legally, authorized for
funds.
a fiduciary capacity for City employees
the City as well as investments in mutual
Under the California Government Code, a financial institution is required to secure
deposits made by state or local governmental units by pledging securities held in the
form of an undivided collateral pool. The market value of the pledged securities in the
collateral pool must equal at least 110% of the total amount deposited by the public
agencies. California law also allows financial institutions to secure City . deposits by
pledging first trust deed mortgage notes having a value of 150% of the secured public
deposits.
Deposits of cities and other state or local governments are classified in three
categories to give an indication of the level of credit risk assumed by the City.
Category 1 - includes deposits that are insured or collateralized with securities
held by the City or its agent in the City's name.
Category 2 - includes deposits collateralized with securities held by the pledging
financial institutions trust department or agent in the City's name.
Category 2 also includes deposits collateralized by an interest in an
undivided collateral pool held by an authorized Agent or Depository
and subject to certain regulatory requirements under State law.
Category 3 - includes deposits collateralized with securities held by the pledging
financial institution, or by its trust department or agent but not in the
City's name. Category 3 also includes any uncollateralized deposits.
Category Bank Carrying
Form of Deposit 1 2 3 Balance Amount
Demand deposits $100.000 140.482 = 240.482 192,775
Total deposits $100,900 4 — 240.4 192,
-17-
Notes to Financial Statements
(Continued)
(2) Cash and Investments. (Continued)
The investments below are not classified by custodial risk because they do not
represent a direct investment in securities.
Mutual Funds - deferred compensation
Local Agency Investment Fund
Total investments
Carrying Market
Amount Value
$ 325,131 325,131
14,766,704 14,904,404
15.091.835 151229,535
At June 30, 1995 the management of the State of California Pooled Money Investment
Account generally referred to as LAIF has calculated the market value of LAIF to be
$27,116,056,206. The City's proportionate share of that value is $14,904,404. Included
in LAIF's investment portfolio are certain market risk senstive investments including
Federal Agency and Corporate and Federal Agency Asset and Mortgage backed pools
and collateralized mortgage obligations. Information related to LAIF's exposure to
credit and legal risk is not available.
(3) Fixed Assets
A summary of changes in general fixed assets follows:
Balance at Balance at
July 1. 1994 Additions Retirements June 30, 1995
Land $1,961,615 - - 1,961,615
Buildings 854,908 4,438 - 859,346
Improvements 579,301 - - 579,301
Vehicles and equipment 456,779 49,065 3,210 502,634
Furniture and fixtures 155,061 27,292 709 181.644
Total 00:�4,084,
-18-
CITY OF DIAMOND, BAR
Notes to Financial Statements
(Continued)
(4) General Long -Term, Debt
Changes in general long-term debt for the year ended June 30, 1995 were as follows:
Balance at Balance at
July 1,,1994 Additions Retirements June 30,_199
Compensated absences $ 89,384 14,538 - 103,922
payable
obligations under
capital lease 200.000 22.3.56 100,52-1 121,765
Total 36,82-4 22S.687
(5) Obligations Under Capital Leases
Reservoir Site
The City has entered into a lease agreement as lessee for financing the acquisition of a
reservoir site in the amount of $400,000. Payments of principal and interest are
payable in annual installments commencing July 1, 1992. The, interest payments are
based on the average annual percentage interest paid on public investments made
through the Local Agency Investment Fund of the State of California.
Telephone System
The City has entered into a lease agreement as lessee for financing the acquisition of a
telephone system in the amount of $22,356 to be paid in sixty monthly installments
ending in March 2000. The balance to be paid is $27,074 including $5j309 in interest.
These lease agreements qualify as capital leases for accounting purposes and,
therefore, have been recorded at the present value of the future minimum lease
payments as of the inception date in the general fixed assets account group.. Payments
of principal and interest are made from the General Fund.
The future minimum lease obligations and the net present value of these minimum
lease payments as of June 30, 1995 were as follows:
Year Ending
Reservoir
Site
Telephone
System
Tota
June 30.
$104,930
5,601
110,531
1996
-
5,601
5,601
19975,601
5,601
1998
5,601
5,601
1999
4.670
4,670
2000
Total minimum lease payments
—
104,930
27,074
132,004
Less amount representing interest
(4,93
(5,309)
1(0.239)
Present value of minimum lease payments
.
UK =
21,765
121,M
-19-
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
(6) Reserves and Designation of Fund Equity
The City established "reserves" of fund equity to segregate fund balances which are not
appropriable for expenditure in future periods, or which are legally set aside for
specific future use. Fund "designations" also may be established to indicate tentative
plans for financial resource utilization in future periods.
Fund balances at June 30, 1995 consisted of the following reserves and designations
(7) Deferred Compensation
The City has made available to its employees a deferred compensation plan, created in
accordance with Internal Revenue Code Section 457, whereby employees authorize the
City to defer a portion of their salary to be deposited in individual investment
accounts. Funds may be withdrawn by participants upon termination of employment or
retirement. The City makes no contribution under the plan. As of� June 30,' 1995, the
deferred compensation liability included in an Agency Fund was $325,131 carried at
market value.
All amounts of compensation deferred under the plan, all property and rights purchased
with those amounts, and all income attributable to those amounts, property, or rights,
are solely the property and rights of the City, subject only to the claims of the. City's
general creditors. Because the City handles these funds in a fiduciary capacity, the
Deferred Compensation Fund is reported as an Agency Fund in the accompanying
financial statements.
mom
Total
Special
Capital
(Memorandum
General Fund
Revenue
Projects
Only_
Reserved for:
Debt service
$ 225,687
-
-
225,687
Encumbrances
78,979
440,284
395,061
914,324
Specific projects and
programs
5,000
349,772
135,452
490,224
Unreserved:
Designated for:
Specific projects and
programs
156,894
4,726,392
-
4,883,286
Undesignated
7,711,454
-
-
7,711,454
Total fund equity
$8,178,014
5,516,448
530.5
14.224.975
(7) Deferred Compensation
The City has made available to its employees a deferred compensation plan, created in
accordance with Internal Revenue Code Section 457, whereby employees authorize the
City to defer a portion of their salary to be deposited in individual investment
accounts. Funds may be withdrawn by participants upon termination of employment or
retirement. The City makes no contribution under the plan. As of� June 30,' 1995, the
deferred compensation liability included in an Agency Fund was $325,131 carried at
market value.
All amounts of compensation deferred under the plan, all property and rights purchased
with those amounts, and all income attributable to those amounts, property, or rights,
are solely the property and rights of the City, subject only to the claims of the. City's
general creditors. Because the City handles these funds in a fiduciary capacity, the
Deferred Compensation Fund is reported as an Agency Fund in the accompanying
financial statements.
mom
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
(8) City Employees Retirement Plan (Defined Benefit Pension Plan)
Plan Description
The City of Diamond Bar contributed to the California Public Employees Retirement
System (PERS), 'an agent multiple -employer defined pension plan that acts as a
common investment and administrative agent for participating public entities within
the State of California. The City's payroll for employees covered by PERS for the
year ended June 30, ' 1995 was $1,214,921. The total payroll for the year was
$1,298,633.
All full-time and part-time benefitted City employees are eligible to participate in
PERS. Part-time hourly non -benefitted employees do not participate in PERS.
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 equal to the average monthly pay rate for the
last twelve consecutive months. PERS 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
Contributions required of City employees are paid by the City on behalf of the
employees. The rates are set by statute and therefore remain unchanged from year to
year. The present rates are:
Member Rates as a
Category Percentage of Wages
Local miscellaneous members
7%
The City is required to contribute the remaining amounts necessary to fund the
benefits for its members, using the actuarial bases 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. 1',e
measure is intended to help assess the funding status of PERS on a going -concern bans.
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 PERS.
-21-
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
(8) Cid Employees Retirement Plan (Defined Benefit Pension Plan). (Continued)
Funding Status and Progress. (Continued)
The pension benefit obligation was computed as part of an actuarial valuation
performed as of June 30, 1994. Neither an actuarial valuation nor an annual update as
of June 30, 1995 is available at this time. 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 4.5 percent a
year compounded annually, attributable to inflation, (c) no additional projected salary
increases attributable to seniority/merit, and (d) no post retirement benefit increases.
The total overfunded pension obligation applicable to the City employees was $190,116
at June 30, 1994, as follows:
Pension benefit obligation:
Retirees and beneficiaries currently receiving
benefits and terminated employees not yet
receiving benefits
Current employees:
Accumulated employee contribution including
allocated investment earnings
Employer -financed vested
Employer -financed non -vested
Total pension benefit obligation
Net assets available for benefits at cost
(Market value is $741,255)
Overfunded pension benefit obligation
Changes in the pension benefit obligation from
last year resulted from the following:
Changes in benefit provisions
Changes in actuarial assumptions
Total
-22-
$ 39,677
309,036
71,145
133.511
553,369
743.485
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
(8) City Employees Retirement Plan (Defined Benefit Pension Plan)
PERS used 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 in
the year 2000 for prior service benefits and current service benefits.
The significant actuarial assumptions used to compute the actuarially determined
contribution requirement are the same as those used to compute the pension benefit
f
obligation, as previously described.
The contribution to PERS for the year ended June 30, 1995 of $161,644 was made in
accordance with actuarially determined requirements computed through an actuarial
valuation performed as of June 30, 1993. The contribution consisted of the following:
Percent of
Covered
Amount Payroll
Normal cost $162,386 13.37%
Amortization of unfunded (overfunded)
actuarial accrued liability) .(.06)%
Total contribution $161,644 13.31%
Contribution:
Employer $ 76,600 6.31%
Employee 85.044 7.00%
Total contribution $161 13.31%
The actual employer contributions paid were reduced by $15,283 due to permitted
use of surplus assets.
Trend Information
For the three years ended June 30, 1993, 1994 and 1995, the total contribution to
PERS was 13.68%, 13.34% and 13.31%, respectively, of the annual covered payroll.
The total contribution paid by the City included the employer contributions as well
as the member contribution for which the City is contractually obligated to pay on
behalf of its employees. The total contributions paid by the City was based upon
actuarially determined requirements.
-23-
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
(8) CitEmployees Retirement Plan (Defined Benefit Pension Plan)
Trend Information, (Continued)
Since the required ten-year information for the City of Diamond Bar alone is not
displayed in the California PERS annual report, this information must be disclosed in
the financial statements of the City. This ten-year historical trend information
gives an indication of the progress made in accumulating sufficient assets to pay
benefits when due.. However, the year ended June 30, 1990 is the first year the City
participated in PERS. Moreover, such information for the year ended June 30, 1995
is not yet .available. Until ten years of data are available, as many years as are
available will be presented. Showing unfunded pension benefit obligation as a
percentage of annual covered payroll approximately adjusts for the effects of
inflation, thereby enhancing comparability for trend analysis purposes. Available
trend information (in hundreds) is summarized as follows:
(6) t
(4)
Unfunded Pension
Actuarial (1) (2)
(3)
Unfunded (5)
Benefit Obligation
Valuation Net Assets Pension
Percentage
Pension Benefit Annual
as a Percentage
as of Available Benefit
Funded
Obligation Covered
of Covered Payroll
June 30 for Benefits Obligation
(1)/(2)
(2)=(1) Payroll
(4)/(5)
1990 250.7 288.8
86.8
38.1 3,122.1
1.2
1991 1,318.0 1,220.6
108.0
(97.5) 9,360.3
(1.0)
1992 3,106.8 2,632.3
118.0
(474.6) 11,060.5
(4.3)
1993 4,743.9 3,839.9
123.5
(904.1) 10,098.5
(9.0)
1994 7,434.8 5,533.6
134.4
(1,901.2) 14,408.0
(13.2)
(9) Due From and To Other Funds
Current interfund receivables and payables
balances at June 30, 1995
are as follows:
Current
Current
Interfund
Interfund
Receivables
Payables
General fund
$142,193
10,991
Special revenue funds:
Traffic safety
-
14,031
State gas tax
-
312,948
Proposition A
49,694
8,234 f
Proposition C
-
177,120 l
Park fees
-
546
Safe parks.
-
53,166
Community development block
grant
-
139,017
Assessment districts
10,992
24,632
Capital projects funds:
Traffic mitigation
1,249
1,225
Capital improvement
537,782
-
Total
.214
2?Q
-24-
i.
CITY OF DIAMOND BAR
Notes to Financial Statements
(Continued)
(10) Expenditures in Excess of Appropriations
Expenditures and transfers out for the year ended June 30, 1995 exceeded the
appropriations for expenditures and transfers out of the following funds:
Capital projects funds:
Traffic mitigation
Budget Actual Variance
$ - 1,249 (1,249)
Management's explanation for the expenditures in excess of appropriations is
summarized as follows:
The project was completed in the previous year and the fund was closed. Subsequently,
it was determined that a portion of the work was substandard and the City hired a
consultant to evaluate the work. In order to track subsequent costs incurred, the City
reopened the fund and recorded the costs to the project, which was not budgeted for in
the current year.
(11) Risk Management - Coverage
The City participates in the Southern California Joint Powers Insurance Authority.
The purpose of this organization is to reduce the cost of liability insurance coverage by
having the member cities act as self insurers among themselves. The City's
self-insurance retention level for Comprehensive General Liability claims is $20,000
with a pro rata sharing of all member incurred losses up to $10,000,000 per ocurrence.
The membership of SCJPIA consists of approximately 78 cities with similar interests
and needs regarding general liability insurance. Premiums are based upon the losses
incurred by the insured and rebates are possible if the losses are minimal. The Board
of Directors sets the premiums, and each member city is represented on the Board.
(12) Contingent •Liabilities
The City is a defendant in various litigation arising in the normal course of operations.
In the opinion of management and counsel, the outcome is not expected to materially
adversely affect the financial position of the City.
-25-
(This page intentionally left blank)
-26-
GENERAL FUND
To account for all the general revenue of the City not specifically levied or collected for the
other City funds and for expenditures related to the rendering of general services by the
City.
-27-
CITY OF DIAMOND BAR
General Fund
Comparative Balance Sheets
June 30, 1995 and 1994
Assets
Cash and investments
Accounts receivable
Interest receivable
Due from other funds
Due from other governments
Total assets
Liabilities and fund eauit
Liabilities:
Accounts payable
Accrued expenses
Retentions payable
Deferred revenue
Due to other funds
Deposits
Total liabilities
Fund balances:
Reserved for:
Receivable
Encumbrances
Debt service
Specific projects and programs
Unreserved:
Designated for:
Specific projects and programs
Undesignated
Total fund balances
Total liabilities and fund balances
-28-
Exhibit A-1
1995 1994
$7,967,594 5,746,990
181,919 128,441
217,738 135,950
142,193 60,953
1.266,036 2,091,251
9.775.480 8,163,585
$1,152,678 1,084,418
62,922 90,276
6,659 -
112,723 -
10,991 -
251,_493 105.129
1.597.466 1,279.823
- 823,605
78,979 88,154
225,687 289,384
5,000 5,000
156,894 -
7,711,454 5,677,619
8,178,014 6,883,762
9.775,480 8,163,S8U5
Exhibit A-2
CITY OF DIAMOND BAR
Comparative Statement of Revenues, Expenditures and Changes in Fund Balances
General Fund
For the fiscal years ended June 30, 1995 and 1994
-29-
19941995 ,
Revenues:
$4,964,207
4,981,235
Taxes
Licenses, permits and fees
748,198
2,859,755
740,308
2,926724
Intergovernmental
130,253
88,137
Fines and forfeits
393,439
242,248
Interest
51,000
37,492
Other revenues
Total revenues
9,146,852
9, 016,144
Expenditures:
1,922,452
2,316,053
General government
4,099,515
31819,724
Public safety
1,123,633
1,735,770
Public works
Parks, recreation and culture
1,027,979
976,957
30,927
Capital outlay
67,884
Debt service:
450,000
Principal
Total expenditures
8,24.1,463
9,329,43,
Excess (deficiency)
of revenues over
expenditures
905.3 1 89
(313,,,287)
Other financing sources (uses):
750,186
219,792
Operating transfers in
(383,679)
Operating transfers out
22,356
Proceeds of capital lease
Total other financing sources (uses)
388,863
219..,792
Excess (deficiency) of
revenues over expenditures
and other financing,
1,294,252
(93,495)
sources (uses)
Fund balances*at beginning of year
.6 ,883,762
6,977.257
Fund balances at end of year
6,883,762
-29-
CITY OF DIAMOND BAR
Revenue Detail - Budget and Actual
General Fund
Year ended June 30, 1995
Taxes:
Real estate transfer tax
Sales and use tax
Franchise fees
Transient occupancy tax
Property tax allocation
Total taxes
Intergovernmental:
Motor vehicle in lieu tax
Library services
Homeowners exemption
Off highway tax
Grants
Total intergovernmental
Licenses, permits and fees
Fines, forfeitures and penalties,
and court fines
Interest earned on investments
Other:
Rental income
Donations
Miscellaneous
Total other revenue
Total revenues
Exhibit A-3
t.
-30-
1995
Over/(Under)
1994
Budget
Actual
Budget
Actual
$ 95,000
113,394
18,394
123,772
2,150,000
2,173,979
.23,979
2,102:567
615,000
647,518
32,518
652,108
180,000
152,341
(27,659)
220,988
2,711,000
1,876,975
(834,025)
1,881,800
5,751.000
4,964,207
(786,793)
4,981,235
2,436,000
2,601,163
165,163
2,494,055
200,000
207,000
7,000
-
20,000
35,711
15-,711
35,273
1,700
411
(1,289)
1,219
15'.470
15,470
396,666
2,657,700
2,859,755
202,055
2,927,213
771,100
748,198
(22,902)
740,308
124,000
130,253
6,253
88,137
280,000
393,439
113,439
242,248
25,000
26,149
1,149
11,389
1,100
1,585
485
7,697
7,400
23,266
15,866
17,917
33,500
51,000
17,500.
37,003
$9,617,300
9,146.852
(470 .-44-8)
9-016_144
-30-
CITY OF DIAMOND BAR
Expenditure Detail - Budget and Actual
General Fund
Year ended June 30, 1995
General government:
City Council
City Manager
City Clerk
Finance
City Attorney
Planning
General government
Promotion
i
Total general government
Public safety:
Law enforcement
Fire
Building and safety
Animal control
Emergency preparation
Total public safety
Public works
Parks, recreation, and culture
Principal retirement
Capital outlay
Total expenditures
1995
Budget Actual
$ 105,735
89,213
373,800
398,839
190,150
189,862
218,100
210,890
185,000
132,474
488,530
428,643
390,500
346,307
171,050
126.224
2.1 2,865 1922,
3,865,500 3,855,221
7,530 7,359
200,000 170,088
52,500 54,169
17.600 12.678
4,143,130
4,099.5
1,395.97
1,123.63
1,243.8.
1,027.97
-31-
67.884
8,241.4�t.3.
Over/(Under)
Budget
16,522
(25,039)
288
7,210
52,526
50,887
44,193
44,826
200.413
10,279
171
29,912
(1,669)
4.922
43.615
272.341
215.826
25.851
758.0
Exhibit A-4
1994
Actual
92,956
327,585
237,448
185,537
405,012
473,026
283,684
92,830
1 1 .
3,762,539
7,359
194,975
49,826
23,000
4.037,E
1,735..770
976,957
450.000
30,927
2-329-411
(This page intentionally left blank)
MID
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for specific revenues that are legally restricted
to expenditure for particular purposes.
The City of Diamond Bar has eleven -Special Revenue Funds:
Traffic Safety Fund — To account for fines collected.on Vehicle Code violations which can be
expended only for traffic safety purposes.
Gas Tax Fund - To account for state gasoline taxes received under Sections 2105, 2106,
2107, and 2107.5 of the Streets and Highways Code. State law requires that these revenues
be utilized solely for street related purposes.
Proposition A Transit Fund - To account for the receipt and expenditure of the City's share
of the 1/2 cent sales tax levied in Los Angeles County for local transit purposes.
Proposition C Transit Fund - To account for the receipt and expenditure of Proposition C
funds from the Los Angeles County Metropolitan Transportation Authority for the City's
transit and transit -related improvement projects.
Integrated Waste Management Fund - To account for revenues and expenditures related to
the City's waste reduction efforts as related to AB939.
Air Quality Improvement Fund - To account for motor vehicle registration fees received
from the South Coast Air Quality Management District to reduce air pollution from motor
vehicles pursuant to the California Clean Air Act of 1988.
Park Fees Fund - To account for revenues received and expenditures made for park
development and improvement. nder the State of alifornia's Quimby Actpark development fees
collected from developers
Proposition A Safe Parks Act Fund - To account for funds received and expended as a result
of the approval of the Los Angeles County Safe Neighborhood Parks Act passed in 1992. This
Act provides funds to cities to improve, preserve, and restore parks.
Community Development Block Grant Fund - To account for the City's allotment of CDBG
funds from the federal government via the Los Angeles Community Development
Commission. These funds are used to fund community development programs and projects
benefiting low and moderate income citizens.
SB 821 Fund - To account for
�keures related to the and pedest pedestrian pathsreceipt of state funds
allocated for the purpose of the construction of b
Landscape Maintenance Districts Funds - To account for revenues and expenditures related
to the special property tax assessments which were set up in accordance with the Landscape
and Lighting Act of 1972. The purpose of these districts is to improve the landscaping of
City owned medians and hillsides.
-33-
CITY OF DIAMOND BAR
Special Revenue Funds
Combining Balance Sheet
i
June 30, 1995
Traffic State Prop. A Prop. C Solid Air Quality
Safety Gas Tax Transit Transit Waste Improvement Park Fees
Assets
Cash and investments $ 358 2,589,373 1,040,245 1,413,871 63,945 85,411 365,950
Accounts receivable - - - - 3,210 - -
Due from other funds - - 49,694 - - - _
Due from other governments 14:031 - 44,754 37.714 - 16,130 f
Total assets 14 2.589,373 1,134,693 1.451.585 x,155 1 41 3rQ 1(
Liabilities and Fund Balance
Liabilities:
Accounts payable
$ -
-
34,219
-
15,460
1,656
-
Accrued expenses
-
378
751
-
719
240
-
Retentions payable
-
-
-
-
Due to other funds
14,031
312,948
8,234
177,120
-
546
Total liabilities
14,031
313,326
43,204
177,120
16,179
1,896
546
Fund balances
Reserved for:
r
Encumbrances
-
128,476
-
294,302
1,360
-
15,632 I
Specific projects and
programs
-
-
-
-
-
-
349,772
Unreserved:
Designated for:
Specific projects and
programs
358
2,147,571
1,091,489
980,163
49,616
99,645
-
Total fund balances
358
2,276,047
1,091,489
1,274,465
50,976
99,645
365.404
Total liabilities
and fund balance
$14:__389
2.589.373
1.134.693
1.451.585
67,155
101,541
365,950 '
-34-
Exhibit B=1
Community
Landscape
Totals
59,530
Prop. A Development
Maintenance
(Memorandum
Only)
1994
Safe Parks Block Grant'
Districts AB 821
1995
-
53.166 139.017
271,303 142,204
5,972,660
5,765,120
53.166 156.577
-
3,210
5,073
_
109992 -
60,686
-
-
,j 53.166 156.577
156.577
03
12.2 -
cL4 142.20
334.575
6,371,131
235.707
6 005.900
16,418
51,840
_ 119,593
59,530
_ 1,142
68
- 3,298
12,842
_
2,098
- 2,098
-
53.166 139.017
24.632
- 729.694
150.118
53.166 156.577
78.638
854.683
222.490
514
- 440,284
192,029
,I
349,772
275,733
215.346
142.204 4,726,392
5,315
f6.371.131
�1�(z 156,577
i
215.860
294,498
142.204 5,516'.
142�Q
5,783,
6 .• U_o�2S24
-35-
CITY OF DIAMOND BAR
Special Revenue Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Year ended June 30, 1995
-36-
Traffic
State
Prop. A
Prop. C
Solid
Air Quality
Safety
Gas Tax
Transit
Transit
Waste
Improvement
Revenues:
Special assessments
$ -
-
-
-
-
-
Licenses, permits and fees
-
-
-
-
-
-
Intergovernmental
-
1,290,357
539,951
526,676
19,421
60,377
Fines and forfeits
1239'571
-
-
-
-
-
Charges for services
-
-
137,966
-
72,170
-
Interest
1,400
150,170
50,966
77,851
2,582
3,684
Other revenues
-
-
2,999
-
-
Total revenues
124,971
1,440,527
731,882
604,527
94,173
64,061
Expenditures:
Highways and streets
-
19,610
307,299
259
-
-
Public works
-
-
202,858
-
83,748
-
Community development
-
-
-
-
-
27,031
Parks, recreation and culture
-
-
44,309
-
-
-
Capital outlay
-
-
-
-
-
4,760
Total expenditures
-
19,610
554,466
259
83.,748
31,791
Excess (deficiency)
of revenues over
(under) expenditures
124,971
1,420,917
177,416
604,268
10,425
32,270
Other financing sources (uses):
Operating transfers in
-
-
-
-
-
-
Operating transfers out
(124,613)
(1,620,231)
(45,287)
(708,788)
-
-
Total other financing
sources (uses)
(124,613)
(1,620,231)
(45,287)
(708,788)
-
-
Excess (deficiency)
of revenues over
(under) expenditures
and other financing
sources (uses)
358
(199,314)
132,129
(104,520)
10,425
32,270
Fund balances at beginning
of year
-
2,475,361
959,360
1,378,985
40,551
67,375
Fund balances at end of year
5_ _358
2 �Z�,Q42
1,09.1,489
1.274,465
50 976
99 �
-36-
Exhibit B-2
jCommunity
Landscape
Totals
Prop. A
Development
Maintenance
(Memorandum
Onlyl
Park Fees
Safe Parks
Block Grant
Districts
AB 821
1995
1994
476.,148
-
476,148
499,030
-
_
_
74,190
93,132
74,190
_
18,333
-
188,039
-
21,391
2,664,545
2,572,322 •
_
_
123,571
99,293
-
_
_
210,136
79,615
I
15,994
8,410
330,109
221,952
19,052
-
-
5.399
880
2.400
-
-
93,242
18,333
190:439
492.142
29,801
3,884,
3,566,224
_
_
327,168
140,003
if _
_
_
_
414,659
-
701,265
560,649
_
84,110
-
-
111,141
-
_
_
44,309
-
_
2.880
1.072
-
8.712
107,348
86.990
415.731
-
1,192.59
808,000
93.242
18,333
103,449
76,411
29.801
2.691.503
2,758.224
10,992
-
10,992
-
(3,571)
_
(18,333)
(103.449)
(295.185)
5( 0,000)
(2,969, 457)
(1.668.117)
I
(3,571)
(18,333)
(103,449)
(284.193)
5( 0,000)
(2,958,
(1,668.117)
89,671 - - (207,782) (20,199) (266,962) 1,090,107
275.733 - - 423,642 162,403 5,783,410 4,693.303
-65 _ _ 215.860 142,x4Q 5.516.448 5,783,410
-37-
Exhibit B-3
CITY OF DIAMOND BAR
.Special Revenue Funds
Traffic Safety Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1995
Other financing sources (uses):
Operating transfers out (75,600) (124.613) (49,013)
Total other financing
sources (uses) (75,600) (124.613) (49.013)
Excess (deficiency) of
revenues, over (under)
expenditures and
other financing
sources (uses) - 358 358
Fund balances at beginning of year - - -
Fund balances at end of year $ - 358 35g
-38-
Variance
Favorable
Budget
Actual
(Unfavorable)
Revenues:
Fines and forfeits
$75,000
123,571
48,571
Interest
600
1.400
800
Total revenues
75,600
124.971
49.371
Excess (deficiency)
of revenues over
(under) expenditures
75.600
124,971
49.371
Other financing sources (uses):
Operating transfers out (75,600) (124.613) (49,013)
Total other financing
sources (uses) (75,600) (124.613) (49.013)
Excess (deficiency) of
revenues, over (under)
expenditures and
other financing
sources (uses) - 358 358
Fund balances at beginning of year - - -
Fund balances at end of year $ - 358 35g
-38-
...............................
Exhibit B-4
CITY OF DIAMOND BAR
Special Revenue Funds
State Gas Tax Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1995
Revenues:
Intergovernmental
Interest
Total revenues
Expenditures:
Highways and streets
Total expenditures
Excess (deficiency)
of revenues over
(under) expenditures
Other financing sources (uses):
Operating transfers out
Total other financing
sources (uses)
Excess (deficiency) of
revenues over (under)
expenditures and
other financing.
sources (uses)
Fund balances at beginning of year
Fund balances at end of year
Budget Actual
$1,275,950
- 100.000
1.3 75-9-50
1,290,357
150.170
1.440.527
19.610
19.610
1 375,950 1,420,
(2,819 .420) (-1,6-2-0-.- 231 )
(2 839 ,420) (1.620,231)
(1,463,470)
2 475.361
!1.01.1.891
-39-
(199,314)
2 475.361
2�76_S-47-
Variance
Favorable
(Unfavorable)
14,407
50.170
64.577
(19,610)
(19,610)
44,967
1,219,1
1,219,189
1,264,156
Exhibit B-5
CITY OF DIAMOND BAR
Special Revenue Funds
Proposition A Transit Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1995
Revenues:
Intergovernmental
Charges for services
Interest
Other revenues
Total revenues
Expenditures:
Highways and streets
Public works
Parks, recreation and culture
Total expenditures
Excess (deficiency)
of revenues over
(under) expenditures
Other financing sources (uses):
Operating transfers out
Total other financing
sources (uses')
Excess (deficiency) of
revenues over (under)
expenditures and
other financing
sources'(uses)
Fund balances at beginning of year
Fund balances.at end of year
(60,900) 132,129 193,029
959,360 959,360
�898.4�i4 1.091.489 1�Q:�2
-40-
Variance
Favorable
Budget
Actual
(Unfavorable)
$538,600
539,951
1,351
195,000
137,966
(57,034)
15,000
50,966
35,966
-
2,999
2,999
748,600
731382
(16,718)
310,000
307,299
2,701
132,500
202,858
(70,358)
122,000
44,309
77,691
564,500
554,466
10,034
184,100
177,416
(6,684)
(245,000)
(45,287)
199,713
(245,000)
(45,287)
199,713
(60,900) 132,129 193,029
959,360 959,360
�898.4�i4 1.091.489 1�Q:�2
-40-
Exhibit B-6
CITY OF DIAMOND BAR
Special Revenue Funds
Proposition C Transit Fund
Statement of Revenues, Expenditures and Changes in Fund Balances
-
Budget and Actual
Year ended June 30, 1995
I
Variance
Favorable
'i Budget
Actual.
(Unfavorable)
Revenues: ' 438,150
Intergovernmental
526,676
88,526
47.851
30.000
77.851
Interest
Total revenues 468.150
604.527
136.377
Expenditures:
2590
Highways and,streets -
259
?59)
Total expenditures -
Excess (deficiency)
of revenues over
(under) expenditures 468.150
604,268
136.118
Other financing sources (uses): (900.000)
Operating transfers out
(708.788)
191.212
Total other financing
(uses) (900,000)
(708.788)
191.21'
sources
Excess (deficiency) of
revenues over (under)
expenditures and
other financing (431,850)
(uses)
(104,520)
327,330
sources
Fund balances at beginning of year 1,378,985
1,378,98
-
Fund balances ' at end of year 947.1354_x.1..3!
4
I
i
-41-
L
-42-
Exhibit B-7 j
CITY OF DIAMOND BAR
Special Revenue Funds
Solid Waste Fund
i
Statement of Revenues,
Expenditures and Changes
in Fund
Balances -
Budget and Actual
Year
ended June 30, 1995
Variance �.
Favorable
Budget
Actual
(Unfavorable)
Revenues:
Intergovernmental
$ 22,427
19,421
(3,006)
Charges for services
81,000
72,170
(8,830)
Interest
500
2.582
2.082 t
Total revenues
103.927
94.173
(9,754)
Expenditures:
Public works
96,500
83,748
12.752
Total expenditures
96,500
83,748
12.752 {
Excess (deficiency)
of revenues over
(under) expenditures
7,427
10,425
2,998
Fund balances at beginning of
year 40.551
40.551
-
Fund balances at end of year42,..Q�$
-42-
Exhibit B-8
CITY OF DIAMOND BAR
Special Revenue Funds.
Air Quality Improvement Fund
Statement of Revenues, Expenditures nges in Fund Balances
Budget and Actual -
i
Year ended June 30, 1995
Variance
Favorable
Budget
Actual
(Unfavorable)
Revenues:
Intergovernmental
$40,000
60,377
20,377
1,934
1,750
3,684
Interest
Total revenues
41.750
64,061
22,311
Expenditures:
41,01.0
27,031
13,979
Community development
9,500
4,760
4,740
Capital outlay
Total expenditures
50,510
31.791
18.719
Excess (deficiency)
of revenues over
(under) expenditures
8,760)
32,270
41,030
Fund balances at beginning of year
67.375
67,375
-
Fund balances at end of year
Exhibit B-9
CITY OF DIAMOND BAR
Special Revenue Funds
Park Fees Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1995
Fund balances at end'of year
-44-
Variance
Favorable
Budget
Actual
(Unfavorable)
Revenues:
Licenses, permits and.fees
$ 93,000
74,190
(18,810)
Interest
7.000
19.052
12.052
Total revenues
100.000
93.242
(6,758)
Excess (deficiency)
of revenues over
(under) expenditures
100.000
93.242
(6,758)
Other financing sources (uses):
Operating transfers out
80 130)'
-(3,571)
76.559
Total other financing
sources (uses)
80 130)
(3,571)
76.559
Excess (deficiency) of
revenues over (under)
expenditures and
other financing
sources (uses)
19,870
89,671
69,801
Fund balances at beginning of year
275.733
275.733
-
Fund balances at end'of year
-44-
Exhibit B-10
CITY OF DIAMOND BAR
Special Revenue Funds
Proposition A Safe Parks.Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1995
-45-
Variance
Favorable
Budget
Actual
(•Unfavorable)
Revenues:
Intergovernmental
$2 020.000
18.333
(2 001,667)
2,020,000
18,333
(2,00L.
Total revenues
Excess (deficiency)
of revenues over
(under) expenditures
2,020.0
18.333
�2 001,667)
Other financing sources (uses):
Operating transfers out
(1 590,000)
(18.333)
1 571,667
Total other financing
(uses)
(i 590.000)
(18,333)
1 571,667
sources
Excess (deficiency) of
revenues over (under)
expenditures and
other financing
430,000
-
(430,000)
sources (uses)
Fund balances at beginning of year
-
-
-
(430,000)
Fund balances at end of year
430.004
-45-
Exhibit B-11
CITY OF DIAMOND BAR
Special Revenue Funds
Community Development Block Grant Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1995
Fund balances at beginning of year
Fund balances at end of year
-46-
Variance
Favorable
Budget_
Actual
(Unfavorable)
Revenues:
Intergovernmental
$507,379
188,039
(319,340)
Other revenues
-
2:400
2,400
Total revenues
507,379
190,439
(316,940)
Expenditures:
Community development
110,220
84,110
26,110
Capital outlay
7,379
_ 2,880
4,499
Total expenditures
117,599
86,990
30,609
Excess (deficiency)
of revenues over
(under) expenditures
389,780
103,449
(286,331)
Other financing sources (uses):
Operating transfers out
1386,110)
(103,449)
282,661
Total other financing
sources (uses)
386 110)
(103,449)
282,661
Excess (deficiency) of
revenues over (under)
expenditures and
other financing
sources (uses)
3,670
-
(3,670)
Fund balances at beginning of year
Fund balances at end of year
-46-
Exhibit B-12
CITY OF DIAMOND BAR
Special Revenue Funds
Landscape -Maintenance Districts Fund
Statement of Revenues, Expenditures Actual in Fund Balances -
Budgetand A
Year ended June 30, 1995
Revenues:
Special assessments
Interest
Total revenues
Expenditures:
public works
Capital outlay
Total expenditures
Excess (deficiency)
of revenues over
(under) expenditures
Other financing sources (uses):
Operating transfers in
-Operating transfers out
Total other financing
sources (uses)
Excess (deficiency) of
revenues over (under)
expenditures and
other financing
sources (uses)
Fund balances at beginning of year
Fund balances at end of year
(228,684) (207,782) 20,902
423,642_ 423,642 -
$194, 958
-47-
Variance
Favorable
Budget
Actual
(Unfavorable)
$478,966
476,148
(2,818)
11.000
15.994
4.994
489.966
492.142
2,176
458,650
414,659
43,991
1.072
(1,072)
458.650
415.731
42.919
31.316
76.411
45,095
-
10,992
10,992
26�)
(295.185)
(35.185)
(260.0 00)
(284.193).
(24,19
(228,684) (207,782) 20,902
423,642_ 423,642 -
$194, 958
-47-
-48-
Exhibit B-13
CITY OF DIAMOND BAR
Special Revenue Funds
AB 821 Fund
Statement of Revenues,
Expenditures and Changes.in Fund
Balances -
Budget and Actual
Year ended June 30, 1995
Variance
Favorable
_Budget
Actual
(Unfavorable)
Revenues:
Intergovernmental
$ 18,000
21,391
3,391
Interest
3,000
8.410
5,410
Total revenues
21.000
29,801
8.801
Excess (deficiency)
of revenues over
(under) expenditures
21.000
29.801
8,801
Other financing sources (uses):
Operating transfers out
(70,000)(50
000)'
20.000
Total other financing
sources (uses)
(70,000)
(50,000)
20.000
Excess (deficiency) of
revenues over (under)
expenditures and,
other financing
sources (uses)
(49,000)
(20,199)
28,801
Fund balances at beginning of
year 162.403.
162,403
Fund balances at end of year
$113 4Q
I`42,20�
2 .SOI
-48-
CAPITAL PROJECTS FUNDS
Capital Projects Funds are used to acpro
ount for the purchase or construction of major capital
facilities which are not financed by Proprietary Funds or Trust Funds. Capital Projects
Funds are ordinarily not used to account for the acquisition. of furniture, fixtures, machinery,
equipment and other relatively minor or comparatively short-lived -general fixed assets.
The City of Diamond Bar has three Capital Projects Funds:
Grand Avenue Construction Fund - To account for the expenditure of funds received from
the County of San Bernardino in settlement of the Grand Avenue litigation. These funds are
used for street and traffic improvements along Grand Avenue.
Traffic Mitigation F - To account for the expenditure of traffic mitigation fees which
were transferred by the Los Angeles County to the City upon incorporation. These fees were
to be used for street and signal improvements around the Gateway Corporate Center. These
funds were used for the rehabilitation of Golden Springs.
Fund - To account for the costs of constructing street
Capital Improvement Project other ublic improvements not normally included
improvements, park improvements, and p
within the other Capital' Projectpr
s funds. Financing is ovideby developer fees and
interfund transfers from the Special Revenue Funds and the General
l Fund.
-49-
-50-
Exhibit C-1
CITY OF
DIAMOND BAR
Capital
Projects Fund
Combining
Balance Sheet
June
30, 1995
Totals
`
Grand
Traffic
Capital
(Memorandum
Only)
Avenue
Mitigation
Improvement
1995
1994
Assets
Cash and investments
$397,671
-
142,764
540,435
545,002
Due from other funds
-
1,249
537.782
539,031
89,165
Total assets
Z 1
L2A2
5$4 4
1,079�,466466
, 4
Liabilities and fund balance
j
Liabilities:
Accounts payable
$ 2,369
24
383,994
386,387
95,713 j
Accrued expenses
241
-
69
310
38S9
Retentions payable
-
-
161,031
161,031
,
Due to other funds
-
1,225
-
1,225
Total liabilities
2,610
1,249
545,094
548,953
99,S72
Fund balances:
Reserved for:
Encumbrances
395,061
-
-
395,061
9,150
Specific projects and
I
programs
Unreserved
-
-
135,452
135,452
124,404
-
-
-
-
401,041
Total fund balance
395,061
-
135,452
530,513
534,595 1
Total liabilities
and fund balance
249
Si$545
1.079.466
t 14.162
-50-
Exhibit C-2
CITY OF DIAMOND BAR
Capital Projects Fund
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Year ended June 30, 1995
-51-
Totals
Grand
Traffic
Capital
(Memorandum
Only)
1994
Avenue_
Miti�
Improvement
1995
Revenues:
$
_
59,200
59,200
122,395
Licenses,.permits and fees
_
116,100
116,100
10,000
Intergovernmental
_
3.846
9.145
2.009
Interest
5,299
-
5.299
-
179,146
184,445
134,40 4
Total revenues
Expenditures:
_
1,281,010
1,281,010
1-,
Highways and streets
_
20,429
1,224
831,710
853,363
13,894
Public works
236,569
236,569
Community development
-
25
41,268
41;293 1,500,134
Capital outlay
-
Debt service:
100,000
100,000
100,000
Principal
-
_
_
8,780
8.780
14.790
Interest
-
20,429
1,249
2 499,337
2,521,01
1.628,818
Total expenditures
Excess (deficiency)
of revenues over
(under) expenditures1(
5,130)
(1,249)
2,320.191)
(2 336.570)
(1,494,41
Other financing sources (uses):
L249
2 331.239
2, 332.488
1 304,930
Operating transfers in
-
Total other financing
1.249
2,331,239
2,332,48
1,300,930
sources (uses)
-
Excess (deficiency) of
I revenues over (under)
expenditures and other
financing sources
(15,130)
-
11,048
(4,082)
(193.484)
(uses)
Fund balances at beginning
410,191
-
124.404
534,595
of year
-
4�2
-
Fund balances at end of year
$ 951
_�
-51-
Exhibit C-3
CITY OF DIAMOND BAR
Capital Projects Funds
Grand Avenue Capital Project Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1995
Fund balances at end of year
-52-
Variance
Favorable
Budget
Actual
(Unfavorable)
Revenues:
Interest
$
5,299
5,299
Total revenues
-
5,299
5:299
Expenditures:
Public works
724,300
20.429
703,871
Total expenditures
724,300
20,429
703,871
Excess (deficiency)
of revenues over
(under) expenditures
(724,300)
15 130)
709,170
Other financing sources (uses):
Operating transfers in
320,000
-
(320,000)
Total other financing
sources (uses)
320,000
-
(320.000)
Excess (deficiency) of
revenues over (under)
expenditures and
other financing
sources (uses)
(404,300)
(15,130)
389,170
Fund balances at beginning of year
410,191
410,191
-
Fund balances at end of year
-52-
Exhibit C-4
CITY OF DIAMOND BAR
Capital Projects Funds
Traffic Mitigation Capital Projects Fund
Statement of Revenues, Expendituresand and Changes in Fund Balances -
Budget
Year ended June 30, 1995
Expenditures:
Public works
Capital outlay
Total expenditures
Excess (deficiency)
of revenues over
(under) expenditures
Other financing sources (uses):
Operating transfers in
Total other financing
sources (uses)
Excess (deficiency) of
revenues over (under)
expenditures and
other financing
sources (uses)
Fund balances at beginning of year
Fund balances at end of year
Budget
-51-
Variance
Favorable
Actual (Unfavorable)
1,224 (1,224)
25 25)
1 249 (1,249)
(1,249)
(1,249).
1,249
1,249
1,249
1,249
CITY OF DIAMOND BAR Exhibit C-5 (
l
Capital Projects Funds
Capital Improvement Fund f
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1995
Variance
Favorable
_
Budget _ Actual (Unfavorable)
Revenues:
`
Licenses, permits and fees
$ 65,500
59,200
(6,300)
Intergovernmental
116,100
116,100
_
Interest
-
3.846
3.846
Total revenues
181.60.0
179.146
(2,454)
Expenditures:
Highways and streets
1,727,301
1,281,010
446,291
Public works
1,889,167
831,710
1,057,457
Community development
549,510
236,569
312,941
Capital outlay
1,920,293
41,268
1,879,025
Debt service:
Principal
100,000
100,000
_
Interest
8.780
8.780
Total expenditures
6,195.051
2.499.337
3,695,714
Excess (deficiency)
of revenues over
(under) expenditures
(6.013.451)
(2.320.191)
3.693.260
Other financing sources (uses):
Operating transfers in
5.705.928
2.331.239
(3.374.689)
Total other financing
sources (uses)
5.705,928
2.3311,239
(3.374.689)
Excess (deficiency) of
revenues over (under),
expenditures and
other financing
sources (uses)
(307,523)
11,048
318,571.
Fund balances at beginning
of year
124.404
124,404
_
Fund balances at end of year
-54-
AGENCY FUNDS
Agency Funds. are used to account for assets held by a government as an agent for
individuals, private organizations, other governments and/or other funds
The City of Diamond Bar has one Agency Fund:
Deferred Compensation Agency Fund - To account for monies held in trust by the City f . or
employees who elect to defer a portion of their salary until retirement.
-55-
Exhibit D-1
CITY OF DIAMOND BAR
Agency Funds
Statement of Changes in Assets and Liabilities
Year ended June 30, 1995
Balance at Balance at
July 1, 1994 Additions Deductions June 30 1995
DEFERRED COMPENSATION FUND
Assets
Cash and investments $234,013 21-116 5.5a
Liabilities
Deferred compensation payable X4,013 2Lfdfi 55-$ 325.1,3
-56-
GENERAL FIXED ASSETS ACCOUNT GROUP
-57-
Exhibit E-1
CITY OF DIAMOND BAR
Comparative Schedule of General Fixed Assets - By Source
June 30, 1995 and 1994
General fixed assets:
Land
Buildings
Improvements
Furniture and equipment
.Total general fixed assets
Investment in general fixed assets by source:
General Fund
Donations
Federal and state governments
Assessment districts
Total investment in general fixed assets
-58-
1995 1994
$1,961,615 1,961,615
859,345 854,908
579,301 579,301
684,279 611,840
$4,084,540 4.007.664
$3,002,922 2,931,969
98,649 98,154
970,381 964,953
12,588 12,588
$4,084, 4 07
CITY OF DIAMOND BAR
Schedule of General Fixed Assets - By Function and Activity
June 30, 1995
Functionand-Activi
General Government:
City Council
Administration
City Clerk
Community Development
Finance
Other
Total General
Government
Public Safety:
Sheriff
Emergency Preparedness
Total public Safety
Public Works
Culture and Recreation
Total general fixed
assets
Exhibit E-2
-59-
6&4,—M —1—.0—M-5-4111
Furniture
and
Land Buildinas Improvements
Equipment
Total
$-
8,969
8,969
-
422,777
422,777
-
16,381
16,381
-
15,328
15,328
-
59,158
59,158
401"
11,000
412,615
401.,.615
533,61.3
935,228.
13,775
13,775
25,882
25.882
39,657
39,657
19,735
19,735
1.560,000 859,345 579,301
91,274
3,089, 920
-59-
6&4,—M —1—.0—M-5-4111
I
(This page intentionally left blank)
L
t
f
-60-
I Total General Fund Expenditures I
14
12
10
8
C:
.0
6
4
2
1988-89 1989-90 1990-91 1991-92 1992-93 1993-94 1994-95
Fiscal Year
(1) includes General, Special Revenue and Capital Project Funds.
*Note: Capital Outlay includes Street &Highways Expenditures
Source: City Finance Department
-61-
City of Diamond Bar
Table 1
General Governmental Expenditures .by Function (1)
Since Incorporation in April, 1989
(unaudited)
Fiscal
General
Public Public Culture &
Capital
Debt
Year
Government
Safety Works Recreation
Outlay*
Service
i9ladi
1968-89
$249,482
$438,805 $90,927 $31,296
$0
$6;325
$816,835
1989-90
$2,509,540
$3,235,362 $1,143,795 $357,604
$1,027,049
$90,842
$8,3614,192
1990-91
$3,322,753
$3,600,879 $1,397,501 $603,997
$949,540
$0
$9,874,670
1991-92
$2,923,206
$3,794,887 $1,673,144 $740,687
$359,931
$0
$9,491,855
1992-93
$2,963,968
$3,478,006 $2,094,910 $822,559
$1,876,098
$100,000
$11,335,541
1993-94
$2,456,056
$3,819,724 $2,310,313 $976,957
$1,638,409
$564,790
$11,766,249
1994-95
$2,270,162
$4,099,515 $2,678,261 $1,072,288
$1,726,067
$108,780
$11,955,073
I Total General Fund Expenditures I
14
12
10
8
C:
.0
6
4
2
1988-89 1989-90 1990-91 1991-92 1992-93 1993-94 1994-95
Fiscal Year
(1) includes General, Special Revenue and Capital Project Funds.
*Note: Capital Outlay includes Street &Highways Expenditures
Source: City Finance Department
-61-
City of Diamond Bar
General Governmental Revenues by Source (1)
Since Incorporation in April, 1989
(unaudited)
Fiscal
Special
Licenses &
Inter-
Fines &
Use of Money
Year
Taxes*
Assessments
Permits
Governmental
Forfeitures
& Properly
1988-89
$21,093
$0
$112,578
$1,371,326
$1,946
$1,650
1989-90
$3,497,401
$409;454
$841,525
$5,271,606
$193,852
$440,520
1990-91
$4,409,302
$422,038
$597,771
$5,993,281
$281,891
$506,081
1991-92
$4,593,790
$466,369
$864,260
$5,067,309
$97,730
$578,340
1992-93
$4,494,173
$469,671
$724,694
$5,910,715
$123,242
$4511077
1993-94
$5,060,850
$499,030
$965,835
$5,539,046
$187,430
$466,209
1994-95
$5,174,343
$476,148
$881,588
$5,640,400
$253,824
$732,693
Table 2
Other
Revenue
Total
$46,625
$1,555,218
$8,313
$10,662,671
$55,307
$12,265,671
$273,078
$11,940,876
$101,305
$12,274,877
$38,372
$12,756,772
$56,399
$13,215,395
Total General Governmental Revenues
14
12
10
0 8
c
0
6 IZ
4
2
0
1988-89 1989-90 1990-91 1991-92 1992-93 1993-94 1994-95
Fiscal Year
(1) Includes General, Special Revenue and Capital Project Funds
Note: 1991-1992 "Other Revenue" includes $179,679 of developer fees collected in the Special Revenue Fund
" Note: Taxes category includes Charges for Services.
Source: City Finance Department
-62-
City of `~^~, —' — ' ''— —
Secured Property Tax Levies and Collections
Since Incorporation April 1989
. (unaudited)
Total Current
Total Current
Percent of Levy
Deliqumn Tax
LP -V -Y
Collections
Codhected .
Reqeivadbl��
Not Available
Not Available
Not Available
Not Available
$908.401
$835.873
92.02%
$72.529
$1.089.679
$1.013.572
93.02Y6
$76.107
s1.232.348
$1.144.019
92.8396
$88,327
$1.117.482
%1.025.382
91.76Y6
$92.101
$1.180.435
$818.467
69.34Y6
$361.068
$1.804.068
$1.625.911
90.1296
$28.672
O
| 1S8o-8g. 1889'90 1990-91 1991-92 1992-93 1993 -9419g4 -9S
Fiscal Year
ofO�n�ond8ern���da tax lawsuit .that rasuhed{n
Note: The City property ~_..�
} � oddNono\proper�tax poyme�stobaU|ng$1.O82.78� The funds were r000��
received in (' payments AuQuat18�4en�Augu��1 5. These omou�oare not �cudedinthe
� ' --
.
above fiQu�easthey
' wereassociated with the initial property tax transfer at the date of incorporation.
1 !
| `-`
Source: Los Angeles County Auditor/Controller
City of Diamond Bar Table 4
Assessed Value of Secured and Unsecured Property
Since Incorporation in April, 1989
(unaudited)
Tax
Secured Gross
Unsecured Gross
Annual Percent
Year
Assessed Value
Assessed Value
_ Publi_ c_Utility
Exemptions Net
Assessed Value
NAV Increase
1988-89*
$2,345,946,185
$0
$0
$0
$2,345,946,185
Not Applicable
1989-90*
$2,663,648,618
$0
$0
$0
$2,663,648,618
13.54%
1990-91
$2,926,368,105
$0
$827,618
$5,409,199
$2,921,786,524
9.69%
1991-92
$3,285,467,698
$40,698,263
$692,390
$10,921,667
$3,315,936,684
13.49%
1992-93
$3,493,803,851
$45,032,160
$0**
$27,932,643
$3,510,903,368
5.88%
1993-94
$3,536,453,242
$49,709,273
$844,313
$25,119,688
$3,561,887,140
1.45%
1994-95
$3,619,436,021
$57,158,841
$820,862
$33,523,553
$3,643,892,171
2.30%
I Net Assessed Value (in millions
4,000
1
3,500
N
C
3,000
M
2,500
2,000 '
.1988-89* 1989-90* 1990-91 1991-92
Fiscal Year
1992-93 1993-94 . 1994-95
*1988-89 and 1989-90 estimated by using the combined unincorporated areas of Pomona Unified School and Walnut Valley
Unified School District - Source: California Municipal Statistics
** Los Angeles County Auditor/Controller reported no Public Utility Valuations
Source: Los Angeles County Auditor/Controller
MMM
2.000
1.750
1.500
1.250
1.000
0.750
0.500
0.250
0.000
1988-89
1989-90 1990-91 1991-92 1992-93 1993-94
Fiscal Year
Note: Property tax rates based on a typical tax rate area.
Source: California Municipal Statistics, Inc.
I
i
-65-
1994-95
City of Diamond Bar
Table 5
Property Tax Rates - All Direct and Overlapping
Governments
(Per $100 of Assessed Valuation)
Since Incorporation in April, 1989
(unaudited)
Fiscal
General
Los Angeles
Walnut Valley Walnut Valley L.A. County
L.A. County
Metropolitan
Year
Lew
Coun
School District Water District Flood Control
Sanitation
Water District.
Total
1988-89
-
- - -
-
-
Not Available
1989-90
-
-
- _ -
-
-
Not Available
1990-91
1.0000000
0.0021040
0.1597230 0.0578770 0.0057860
0.0007470
0.0097000
1.2359370
1991-92
1.0000000
0.0018880
0.0404290 0.0516750 0.0053760
0.0002090
0.0089000
1.1084770
1992-93
1.0000000
0.0014090
0.0974170 0.0481650 0.0033970
0.0002060
0.0089000
1.1594940
1993-94
1.0000000
0.0017130
0.0863570 0.0448070 0.0042120
0.0000000
0.0089000
1.1459890
1994-95
I,
1.0000000
0.0019930
0.0649030 0.0000000 0.0060410
0.0000000
0.0089000
1.0818370
Typical Property Tax Rates
(Percent of Assessed Value)
2.000
1.750
1.500
1.250
1.000
0.750
0.500
0.250
0.000
1988-89
1989-90 1990-91 1991-92 1992-93 1993-94
Fiscal Year
Note: Property tax rates based on a typical tax rate area.
Source: California Municipal Statistics, Inc.
I
i
-65-
1994-95
���x x����^ ^� ��
=.��=. =U�00���==��
City Table 6
Principal Taxpayers ------
June 30, 1995
$164,943,610 4.53%
Source: L.A.Aoeaaoo 1S84/85Secured & Unsecured Tax Rolls
-66-
1994-1995
Percentage of Total
Taxpayer
Primary Use
Assessed Valuation
Net AF;sessed Valuation
Diamond Bar Business Associate
Connmnenoio|
$31.014.838
0.85Y6
LandoingPacific Fund
Connrnaroia|
$25.804,408
0.71%
Martin BrottrudProperties.
Commercial
$20'587.853
0.5796
Hidden Manna Corporation
Commercial
$18.588.559
0.51Y6
Nikko Capital Corporation
Commercial
$12.855.569
0.35Y6
JFShea Company, Inc.
Industrial
$12/444.848
0.84%
Margaret M.Tam Trust
Residential
$11.818'350
0.32%
Lincoln Emerald Pointe
Residential
'
$11.818.187
0.32Y6
Nugit Maple Santee Partnership
Connnneouia|
$10.045.029
0.289&
TCEP 11 Properties Joint Venture
Commercial
$9,965,989
0.27%
$164,943,610 4.53%
Source: L.A.Aoeaaoo 1S84/85Secured & Unsecured Tax Rolls
-66-
City of Diamond Bar
Computation of Legal Debt Margin
June 30, 1995
(unaudited)
Assessed Valuations:
Assessed Value
Add Back: Exempt Property
Total Assessed Value
Legal Debt Margin:
Debt Limitation - 15% of Total Assessed Value*
Debt Applicable to Limit
Total Bonded Debt
Less: Special Assessment Bonds
Revenue Bonds
Available for Repayment of General Obligation Bonds
Total Debt Applicable to Limitation
Legal Debt Margin
The City of Diamond Bar has no bonded indebtedness.
Section 43605 of the California Government Code
Source: City Finance Department, Los Angeles County Auditor/Controller
-67-
Table 7
$3,643,892,171
$33,523,553
$3,677,415,724
$551,612,359
$0
$0
$0
$0
$0
$551,612,359
���x ^�� Diamond ��
="K�=. =U8�00���= Bar
Computation of Direct and Overlapping Debt
June 30, 1995
(unaudited)
Go8er0men
Loa
Loa Angeles County General Fund Obligations
Los Angeles County Pension Obligations
Los Angeles County Superintendent of Schoos Certificates of Participation
Los Angeles County Flood Control District
Los Angeles County Flood Control District Certificates ofParticipation
Matno|po|ibanWater District
Mount San Antonio Community College District Certificates of Participation
Pomona Unified School District
Pomona Unified School District Certificates ofParticipation
Walnut Valley Unified School District
Los Angeles County Sanitation District #21Authority
Walnut Valley Water District General Fund Obligations
Walnut Valley Water District, I.D. #3
City of Diamond Bar
TOTAL GROSS DIRECT AND OVERLAPPING 0]NDEDDEBT
% Applicable Debt 01 6/30/95
Less: Loo Angeles County Certificates of Participation (1OOY6self supporting
from leasehold revenue on properties in Marina Del Rev
Walnut Valley Water District General Fund Obligations
TOTAL NET DIRECT AND OVERLAPPING BONDED DEBT
0J98Y6
$583.348
0.798Y6
$16.827.154
0.798Y6
$20.324.064
0J88Y6
$108.370
0.83296
$581.734
0.832Y6
$1.873.622
0.451%
$2.827.342
13.559Y6
$1.129,485
26.99296
$14.170.800
26.992%
$4.131.128
76.859%
$38.057'781
23.471%
$7.558.974
64.282%
$15.379.469
99.221Y6
$3.105.617
100.000Y6
$
$1.27,434,846 1
$1,075.584
$15.379.469
$110.979.793
(1\Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax allocation bonds and non -bonded
capital lease obligations
Ratios to Assessed Valuation:
Direct Debt 0.0096
Total Gross Debt 3.50%
Total Debt 3.05%
State School Building Repayable eaofO8/3O/B5: $5,759
.. Source: California Municipal Statistics, Inc.
City of Diamond Bar
Schedule of Insurance In Force
June 30, 1995 -
!ype of Coverage Limits/Deductibles Insurer Polipy Period
�
Liability:
'
General Liability, Automobile $10.000.000 combined single Unlit Self Insured 07/l/94 -07/l/95
Liability, Bodily Injury, Property limit each occurrence, $26.000.000 Southern California Joint
�
Damage, Personal Injury aggregate. $20,000 self-insured PovveroInsurance Authohty
retention
)
Special Liability:
Errors and Ommissions.Employ-
$1.00.00each occureme.
Self Insured 07/1/94-07/1/95
�PraoUcee Injury, Contractual
men rg .
�2D000OOaggrogoha Retained
. . '
Southern Co|��niaJoint
1 Liabi|ityInjury, Bnoadcoet/Pub|icaUon
loss of$2O.UO0per oonunanooand
Powers Insurance Authority
Publication I'ury.Emp|oyeaBenefiba.
2OY6copayment
'Administration Injury, DiooininoUon
| Injury
} yUl-Risk.including buildings,
$1,972,095 limit, deductible of,
Zurich Insurance O1/O1/95'O1/O1/S8
contents, garaged vehicles,
$5.U0Oper occurrence
contractor's equipment, fine arts,
`
/ rental income and other mis-
cellaneous extensions ofcoverage
Automobile Physical Damage $S3,521limit, deductible of Zurich Insurance O1/O1/85-01/O1/9O
$1.000per occurrence
Crime:
Public Employee Honesty Blanket $25,000 limit Western Surety 0001/94-0801/95
~~~
Public Official Bond (Mayor, City $100,000 limit (except City Clerk) Western Surety [8/01/94-{8/01/95
Manager/Treasurer, City Clerk, $25,0O0limit - City Clerk `
Workers'Accounting Manager
_Compensation:`_
Work-related injury/illness claims California statutory limit; State Compensation 10/01/94- 10/01/95
for temporary and permanent $1,000,000 employer's liability Insurance Fund
disability
i
'
Source: City Finance Department
|
| -69-
CITY OF DIAMOND BAR Table 10
DEMOGRAPHIC AND MISCELLANEOUS STATISTICAL INFORMATION
JUNE 30, 1995
Date of Incorporation...............................................................................................April 18, 1989
Form of Government........................................................................:.................Council-Manager
Area.........................:........................................................................................14.9 Square Miles
Milesof Streets.......................................................................................................................137
Employees(full-time)................................................................................................................26
Fire Protection (Los Angeles County Consolidated Fire Protection District):
Numberof Stations...............::.......:..........................................................................................3
Number of Firemen and Officers.......................................................:.....................................40
Police Protection (Contract with Los Angeles County):
Numberof Stations.........................................................................................................:.......:.1
Numberof Officers..................................................................................................................27
Sewers:
SanitarySewers...............................................................................................................146.88
StormSewers..................................................................................................:.................31.95
Recreation and Culture:
CommunityCenters..............................................................................................................1
Parks.......................................................................................................................................10
Park Acreage (developed)............................................,.........................................:............45.4
Park Acreage (undeveloped)...................................................................................................97
Education:
ElementarySchools(K-6).........................................................................................................7
MiddleSchools(6-8)................................................................................................................. 2
Jr. High Schools(7-8)...............................................................................................................1
HighSchools(9-12).............................................................................:......................:.............1
Population:*
Percentage
Date
Population
Increase
1989
60,000**
-
1990
53,672
-10.55
1991
53,596
- 0.14
1992
53,576
- 0.04
1993
54,315
1*.32
1994
54,507
0.35
1995
54,284
- 0.41
** Estimate Only
* Source: State of California, Department of Finance
WEI
City of Diamond Bar Table 11
Residential and Commercial Construction
Since Incorporation in April, 1989
(Unaudited)
Bank
Deposits
1988-89
$321,853,000
New Construction
$343,605,000
Fiscal
Residential (1)
Commercial
Year
Units
Value
Units
Value
1994,95
Not Available
1988-89
Not Available
Not Available
1989-90
39
$12,246,600
6
$269,372
1990-91
24
$6,989,816
17
$1,528,280
1991-92
26
$13,566,000
1
$500,000
1992-93
11
$6,757,000
2
$558,000
1993-94
10
$6,053,000
0
$0
1994-95
8
$4,619,400
0
$0
Alterations and Additions
Fiscal
Residential (1)
Commercial
Year
Unft
Value
Units
YAJM9
1988-89
Not Available
Not Available
1989-90
437
$4,085,588
212
$4,036,302
199*0-91
744
$8,868,435
83
$11,361,825
1991-92
638
$10,799,186
68
$3,585,038
1992-93
600
$6,894,000
94
$6,259,900
1993-94
570
$5,781,300
95
$4,839,400.
1994-95
487
$5,649,500
81
$2,454,800
Bank
Deposits
1988-89
$321,853,000
1989-90
$343,605,000
1990-91
$377,224,000
1991-92
$381,710,000
1992-93
$371,506,000
1993-94
$379,581,000
1994,95
Not Available
(1) Includes multiple dwellings
Source: City's Contract Building & Safety Provider, Findley Reports
-71-
I City of Diamond Bar Table 12
Ratio - Unreserved General Fund Balance to Annual General Fund Expenditures
Since Incorporation in April, 1989
(unaudited)
General Fund Ratio
1988-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
0.6
Unreserved General Fund
0.4
0.2
Balance
$50,915
$1,375,030
$2,200,322
$3,019,852
$3,305,067
$5,677,619
$7,711,454
Annual General Fund
Expenditures
$798,947
$6,600,559
$8,031,832
$8,208,271
$8,232,941
$9,329,431
$8,241,463
Ratio
0.064
0.208
0.274
0.368
0.401
0.609
0.936
General Fund Ratio
0.8
0.6
0.4
0.2
0
1988-89 1989-90 1990-91 1991-92 1992-93 1993-94 1994-95
Fiscal Year
Source: City Finance Department
-72-
Schedule of Credits
June 30, 1995
Name
Terrence L. Belanger, City Manager
Linda G. Magnuson, Accounting Manager
Joann M. Gitmed, Senior Accountant
Conrad and Associates, C.P.A.
Source: City of Diamond Bar
Area of Contribution
General Overview
Letter of Transmittal
General Overview
Letter of Transmittal
Statistical Tables
Statistical Tables
Financial Statements
Notes to Financial Statements
-73-
Table 13
(This page intentionally left blank)
-74-