HomeMy WebLinkAboutCAFR - FY 1999-00I W Loa PV'M 6r We I I
Comprehensive Annual Financial Report
Year ended June 30, 2000
Prepared by
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
Year ended June 30, 2000
TABLE OF. CONTENTS
EXHIBIT Page
INTRODUCTORY SECTION:
Letter of Transmittal i
Officials of the City of Diamond Bar xiii
Organization Chart xiv
Certificate of Award for Outstanding Financial Reporting (CSMFO) xv
Certificate of Achievement for Excellence in Financial Reporting (GFOA) xvi
FINANCIAL SECTION:
Independent Auditors' Report 1
General Purpose Financial Statements:
® Combined Balance Sheet - All Fund Types and Account Groups AA 2
® Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types BB 4
® Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual - All Governmental
Fund Types cc 5
® Combined Statement of Revenues, Expenses and Changes
in Retained Earnings - Proprietary Fund Type DD 7
® Combined Statement of Cash Flows - Proprietary Fund Type EE 8
® Notes to the Financial Statements 9
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
Supplemental Data:
General Fund:
• Comparative Balance Sheets
• Schedule of Revenue - Budget and Actual,
• Schedule of Expenditure - Budget and Actual
Special Revenue Funds:
• Combining Balance Sheet
• Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
• State Gas Tax Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• Proposition A Transit Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• Proposition C Transit Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• Intermodal Surface Transportation Efficiency Act (ISTEA) Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
A-1
A-2
A-3
27
28
29
B-1
31
B-2
33
B-3
35
B-4 36
B-5 37
B-6 38
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
® Integrated Waste Management Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Air Quality Improvement Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Bicycle and Pedestrian Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Park Fees Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• Park and Facility Development 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
® Citizens Option for Public Safety (COPS) Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Asset Seizure Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual _
EXHIBIT
Page
B-7
39
B-8
40
B-9
41
B-10
42
B-11
43
B-12
44
B-13
45
B-14
46
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
EXHIBIT Page
• Landscape Maintenance Districts Funds:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual B-15 47
Capital Projects Funds:
• Combining Balance Sheet
• Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
• Grand Avenue Construction Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• Capital Improvement Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• Redevelopment Agency Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
Internal Service Funds:
• Combining Balance Sheet
• Combining Statement of Revenues, Expenses and Changes
in Retained Earnings
• Combining Statement of Cash Flows
C-1 49
C-2 50
C-3 51
C-4
52
C-5
53
D-1
55
D-2
56
D-3
57
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
(C
EXHIBIT Page
General Fixed Assets Account Group:
® Comparative Schedule of General Fixed Assets by Source
® Schedule of General Fixed Assets by Function and Activity
® Schedule of Changes in General Fixed Assets by Function and Activity
STATISTICAL SECTION:
General Governmental Expenditures by Function
General Governmental Revenues by Source
Secured Property Tax Levies and Collections
Assessed and Estimated Actual Values of Taxable Property
Property Tax Rates - All Direct and Overlapping Governments
Principal Taxpayers
Computation of Legal Debt Margin
Computation of Direct and Overlapping Debt
Schedule of Insurance in Force
Demographic and Miscellaneous Statistical Information
Residential and Commercial Construction
Ratio - Unreserved General Fund Balance to Annual
General Fund Expenditures
Schedule of Credits
E-1
59
E-2
60
E-3
.61
Table No.
1
62
2
63
3
64
4
65
5
66
6
67
7
68
8
69
9
70
10
71
11
72
12 73
13 74
Deborah H. O'Connor
Mayor
Eileen R. Ansari
Mayor Pro Tem
Wen Chang
Council Member
Carol Herrera
Council Member
Robert S. Huff
Council Member
Recycled paper
City of Diamond•
21660 E. Copley Drive, Suite 100 - Diamond Bar, CA 91765-4177
November 30, 2000
(909) 860-2489 - Fax (909) 861-3117
. www.CityofDiamondBar.com
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, 2000. 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 respects; 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 (CAFR) 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 principal 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-133, Audits of
States Local Governments. and Non -Profit Organizations. Information related to
this single audit, including the schedule of federal financial assistance, findings and
recommendations, and auditors' 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.
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AWARDS
The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the City
of Diamond Bar for its comprehensive annual financial report for the fiscal year ended
June 30, 1999. The Certificate of Achievement is a prestigious national award
recognizing conformance with the highest standards for preparation of state and local
f financial reports.
In order to be awarded a Certificate of Achievement, a government unit must publish an
easily readable and efficiently organized comprehensive annual financial report, whose
contents conform to program standards. The CAFR must satisfy both generally accepted
accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. The City of
Diamond Bar has received the Certificate of Achievement for the last five consecutive
years (fiscal years ended 1995, 1996, 1997, 1998 and 1999). We believe our current
report continues to meet the Certificate of Achievement Program's requirements and we
are submitting it to GFOA to determine its eligibility for another certificate.
The City of Diamond Bar has also been awarded the Certificate of Award for
Outstanding Financial Reporting by the California Society of Municipal Finance Officers
for its comprehensive annual financial report for the last five consecutive years.
REPORTING ENTITY AND ITS SERVICES
This Comprehensive Annual Financial Report includes all funds and account groups of
the City. The City directly provides a limited range of services and contracts for several
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, park maintenance, capital improvement projects, animal control, attorney
services and engineering. Staff provided services include: 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 services and landscape
maintenance), economic development, redevelopment, community relations, grant
administration, financial management, and administrative management. All of these
activities are included in this report.
The Los Angeles County Fire District provides fire protection, 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.
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 59,000, 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 70 acres of developed park facilities and an 18 hole public golf course.
During the last few years, the City of Diamond Bar's economy has seen a marked
improvement. This fiscal year was no exception as illustrated by higher sales tax
revenues, new business starts and a slight reduction in office vacancy rates. In addition,
this year saw the approval and start of construction of a new housing development. Last
fiscal year's construction of four new office buildings has been a catalyst to create
interest and the construction of other vacant properties located within the City. This, in
addition to several new business commitments, is a signal that the economy in Diamond
Bar is improving and will continue to grow.
The City's Community Redevelopment Agency saw the implementation of the
Redevelopment Plan for the Economic Revitalization Project Area. By investing in the
community, the Redevelopment Agency was working to remove blighting conditions
within the city's commercial areas and to improve traffic flow on the City's major
thoroughfares. Unfortunately, the Redevelopment Agency's Economic Revitalization
Project Area plan came under attack by a small number of citizens. It was challenged in
court and the plan was upheld. The court's decision was appealed and the favorable
ruling was overturned. The City attempted to have the State Supreme Court hear the
case. Early in Fiscal Year 2000-2001, the City received the bad news that the Supreme
Court would not hear the case, virtually shutting down redevelopment agency activities.
For the Year. In the FY99-00 budget, the City of Diamond Bar identified several major
programs and projects necessary to meet increased service levels and to prepare the City
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for the future requirements of its residents. The following is a list of the significant
activities accomplished this fiscal year.
The City Council honored its pledge to improve communications with all citizens and
sought public input on several key projects and issues. The City Council appointed
citizen advisory task forces on the development of a Community/Civic Center, and the
study of the proposed expansion and/or change in client base by the State of California
to the Lanterman Developmental Center. These groups held several meetings throughout
the year and periodically submitted their findings and recommendations to the City
Council for review and possible action.
In its continuing effort to serve the citizens of Diamond Bar, the City has been striving to
improve and enhance civic and recreational opportunities within the City. As a result,
the Community/Civic Center Task Force was formed. The task force with the aid of an
architectural firm explored various aspects of creating such a center. After a great
amount of consideration, the City Council approved Sycamore Canyon Park as the
location for the Community/Civic Center facility. Facilities considered for the future
community/civic center include a senior service element, a library, a sports complex with
a gymnasium and swimming pool, a city hall and a performing arts center. The first
phase to be designed and constructed is a Community/Senior Center. It is .anticipated
that this facility will provide much needed supplemental meeting and activity space for
the City's active senior citizen organizations as well as provide space for the City's
recreational activities. In addition, staff will be pursuing a funding mechanism for the
second phase, the library facility.
The City's Capital Improvement Program for FY 99-00 included several street
rehabilitation and maintenance projects. This included the rehabilitation of two sections
of Golden Springs Drive. This included the sections between Brea Canyon Road and the
Westerly City Limits and between Grand Avenue and Torito Lane. Water seepage on
some of the City's streets has been an ongoing problem. This fiscal year, water seepage
problems were addressed and eliminated on Meadowglen Road and Ambushers Street.
Design of a project to eliminate seepage on Chinook and San Leandro was initiated. As a
part of the ongoing street maintenance program, the City's pavement management plan
divided the City into seven slurry seal areas. This fiscal year the cycle was started once
again with the slurry sealing of area number one.
Transportation and traffic continue to be major sources of concern for the City. The
City has continued its popular transit subsidy and Dial -a -Cab programs. The transit
subsidy program offers 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. These programs are being funded by Proposition A
Transit Funds.
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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 the intersections of Lemon at Lycoming, Golden Springs at
Rapidview and Brea Canyon Road at the intersections of Glenbrook, Diamond. Crest and
Silver Bullet. The Diamond -Bar Redevelopment Agency contributed to the design of
signal improvements for aft additional nine intersections. It is anticipated that these
improvements will be made in the near future.
This fiscal year saw the approval of a new upscale residential project, which will contain
127 homes on 65 acres. As a part of the development agreement, the City received
$1,200,000 from the developer. These funds have been deposited in the City's Parks and
Facility Development Fund and will be used to partially fund the development of the
Community/Senior Center. The City also received a total of 360 acres in designated
open space land as a part of the developer agreement. It is anticipated that this new
residential development will be of a great economic benefit to the City through increased
property tax valuation, local sales and population.
The City Council is extremely interested in addressing the needs and wants of its citizens.
Several years ago, the City implemented a parks master plan. One of the components of
this master plan was the creation of a skateboard park. This fiscal year, the City
conducted several public meetings and received valuable input on desirability, location
and design of a new skateboard park. As a result of lots of hard work by the Skateboard
Park Committee, the Diamond Bar Skateboard Park was designed and constructed this
fiscal year. The dedication and grand opening of the park was attended by more than
three hundred people on July 15, 2000.
This fiscal year a new Sheriff's Service Center was. opened. The Service Center is
conveniently located in the heart of the City provides community information, volunteer
opportunities, children's fingerprinting services and law enforcement services. It also
provides a convenient place for the Diamond Bar deputies to prepare reports, allowing
them to return to the field more quickly.
Every ten years, the Federal Government performs a census count. Since 2000 was a
census year, there was a special effort made in the City of Diamond Bar to get an
accurate population count. Town hall meetings were held, links set up on the City's
internet web site, advertising done and discussions at the City Council meetings to
promote Census Day 2000. The census was vitally important to the City since many of
the State revenue subventions are based on population.
The City continued its implementation of an aggressive economic development program.
The mainstay of this program has been the marketing of Diamond Bar. The City has
and will continue to participate in trade shows in an effort to draw attention to the City's
business friendly environment. In addition, another marketing tool being used is the
internet. The City's World Wide Web site has a vast amount of useful information about
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the City, ranging from a community calendar to a site selection area, which has pictures,
maps and availability of commercial sites within the City. This fiscal year saw the
completion and occupancy of four new office buildings in the Gateway Corporate Center
and the addition of several new retail establishments.
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 was 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 were to be based
on the actual population, which is estimated to be 59,000. With changes in the State law,
the City was able to receive its State subventions based on its incorporation population
until December 1999. As a result, the City has incorporated a conservative operating
budget to compensate for the anticipated lose in revenues. The goal is to implement
revenue enhancement activities and expenditure reduction decisions that will continue to
mitigate the impact of this "shortfall".
Of major concern, are efforts by the State to reduce municipal revenue resources. These
include motor vehicle license fees and gas tax revenues. This along with the taking of
revenue that was to "backfill" shortages in property tax revenues lost through
Proposition 13, is of a major concern to most California cities. The City of Diamond Bar
has joined forces with other cities via various organizations to watch and lobby the State
legislature to preserve their future revenue resources.
The City Council has selected as its number one goal for FY00-01, the completion and
implementation of an Economic Development Strategic Plan. Such a plan will provide a
blueprint for how the City hopes to enhance the economic stability of the community,
and would include measures for attracting new businesses, retaining existing businesses
and providing necessary business assistance. It is anticipated that the plan will also
include revitalization ideas for existing commercial development.
Internal. Control Structures
Management of the City is responsible for establishing and maintaining an internal
control structure designed to ensure 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
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derived; (2) the valuation of costs and benefits requires estimates and judgements by
management.
Budgetary Controls
The City adopts an annual budget prepared on the modified accrual basis for all of its
governmental funds. Revisions that alter the total appropriations of any funds are
approved by the City Council. Prior year appropriations lapse unless they are re -
appropriated 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 $3,864,098.
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 and agency funds 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 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, special revenue, and capital
project fund revenues for the fiscal year ended June 30, 2000 and the amount and
percentage of increases or decreases in relation to prior year revenues.
INCREASE
PERCENT
PERCENT
(DECREASE)
INCREASE
REVENUES
AMOUNT
OF TOTAL
FROM 1998-99
(DECREASE)
Taxes
6,294,104
31.56%
• 415,728
7.07%
Special Assessments
547,041
2.74%
(6,402)
-1.16%
Licenses, Permits, and Fees
1,666,726
8.36%
(480,469)
-22.38%
Intergovernmental
7,713,344
38.67%
1,177,532.
18.02%
Fines & Forfeitures
556,527
2.79%
(16,922)
-2.95%
Charges for Services
1,712,737
8.59%
1,231,489
355.89%
Proceeds from Sale of Prop
0
0.00%
(6,095,931)
-100.00%
Investment Income
1,395,785
7.00%
204,480
17.16%
Other Revenue
59,443
0.30%
(3,866)
-6.10%
TOTAL
19,945,707
100.00%
(3,574,361)
Revenues for the 1998-99 fiscal year were $23,520,068 as compared with $19,945,707
for the 1999-00 fiscal year, a decrease of $3,574,361 or 15.2 percent. Although these
numbers show a decrease in revenues from the prior fiscal year, in both fiscal years there
were extraordinary revenue occurrences. By eliminating these one-time fluctuations,
revenues actually increased by $1,321,570 or 7.6 percent. The following paragraphs
discuss the changes in each category.
There were increases in several of the tax categories. The major increases were in Sales
Tax, Transient Occupancy Tax and Real Estate Transfer Tax. The increase in Sales Tax
is a sign of an improving economy, and a result of the City's aggressive economic
development activities. The improving economy also fueled higher occupancy rates in
the City's hotels. Real Estate Transfer Tax increase was due to an improving real estate
market as well as the sale of several newly constructed homes.
The Licenses, Permits and Fees category shows a significant decrease. This is due
primarily to a $563,826 decrease in building, planning and engineering fees. The reason
for this decrease was due to the construction of four new office buildings and a new
housing tract consisting of 134 houses last fiscal year. There was also a slight decrease in
Recreation Program revenues.
There was a significant overall increase in Intergovernmental Revenues of $1,177,532.
The major component of this increase was the receipt of Federal "transportation funds in
the amount of $752,327. These funds were received as a reimbursement for money
spent rehabilitating a section of Golden Springs Drive. Transit tax revenue received from
the County was up slightly due to an improved economy. Revenues amounting to
$475,700 were received as a result of an exchange of Proposition A -Transit money with
another City. These funds were used to provide funding for the Community/Civic
Center and the creation of a skateboarding facility at Peterson Park.
There was a slight overall decrease in Fines and Forfeiture Revenue this fiscal year.
Traffic Fines showed a small increase due the emphasis on traffic safety and the issuance
of citations within the City. Parking Fines, Impound Fees and False Alarm Fees showed
decreases totaling $35,046.
The increase in the Charges for Services Category is due to the developer contribution of
$1,200,000 mentioned earlier. In addition the City also received traffic mitigation fees
from developers as a result of the project approval process.
Last fiscal year another category was added to the revenue summary. This category,
Proceeds from Sale of Property, was created to account for activities related to the two
development and disposition agreements entered into by the Diamond Bar
Redevelopment Agency. These two agreements provided that the Redevelopment
Age . ncy purchase and resale land to developersThese events were unique to FY98-99
and as such there is no similar revenue received this fiscal year.
Investment Income continues to grow as a result of increased cash reserves held by the
City of Diamond Bar.
The following schedule presents a summary of general, special revenue, and capital
project fund expenditures for the fiscal year ended June 30, 2000 and the amount and
percentage of increases and decreases in relation to prior year's expenditures.
Expenditures for the 1998-99 fiscal year were $22,737,038 as compared with
$19,912,848 for the 1999-00 fiscal year, a decrease of $2,824,190, or 12.4 percent.
Although these numbers show a decrease, if the extraordinary item from FY98-99 was
removed there would be an over all increase of $6,637,823 or a 50% increase. This
considerable increase is due to significant capital improvement project activities that
occurred during FY99-00. The following paragraphs discuss the changes in each
category.
The increase in the General Government category was as a result of various increases
and decreases between the various divisions within this category. There was an increase
of $134,599 in City Attorney expenditures. This was due to litigation against the City
related to the Redevelopment Agency as well as litigation brought against the State of
California to halt the proposed expansion of the Lanterman Developmental Facility. In
addition to higher legal expenditures due to the proposed Lanterman Developmental
Facility expansion, there were also related increases in supplies, various operating .
expenditures and professional services. There was a reduction in salaries and benefits in
the City Manager's division due to staffing vacancies. The City had a municipal election
in 1999 causing an increase in the City Clerk's division. Salaries and benefits in the
Finance Division showed an increase due to an increase in staffing levels.
INCREASE
PERCENT
PERCENT
(DECREASE)
INCREASE
EXPENDITURES
AMOUNT
OF TOTAL
FROM 1998-99
(DECREASE)
General Government
2,868,907
14.41%
370,002
14.81%
Public Safety
4,654,187
23.37%
(84,188)
-1.78%
Highway and Streets
909,642
4.57%
(277,623)
-23.38%
Public Works
1,769,956
8.89%
117,432
7.11%.
Community Development
1,202,285
6.04%
805,204
302.78%
Parks, Recreation & Culture
1,805,489
9.07%
315,781
21.20%
Capital Outlay
6,397,292
32.13%
5,192,565
531.02%
Cost of Property Sold
0
0.00%
(9,462,013)
-100.00%
Debt Service
305,090
1.53%
198,650
286.63%
TOTAL
19,912,848
100.00%
(2,824,190)
Expenditures for the 1998-99 fiscal year were $22,737,038 as compared with
$19,912,848 for the 1999-00 fiscal year, a decrease of $2,824,190, or 12.4 percent.
Although these numbers show a decrease, if the extraordinary item from FY98-99 was
removed there would be an over all increase of $6,637,823 or a 50% increase. This
considerable increase is due to significant capital improvement project activities that
occurred during FY99-00. The following paragraphs discuss the changes in each
category.
The increase in the General Government category was as a result of various increases
and decreases between the various divisions within this category. There was an increase
of $134,599 in City Attorney expenditures. This was due to litigation against the City
related to the Redevelopment Agency as well as litigation brought against the State of
California to halt the proposed expansion of the Lanterman Developmental Facility. In
addition to higher legal expenditures due to the proposed Lanterman Developmental
Facility expansion, there were also related increases in supplies, various operating .
expenditures and professional services. There was a reduction in salaries and benefits in
the City Manager's division due to staffing vacancies. The City had a municipal election
in 1999 causing an increase in the City Clerk's division. Salaries and benefits in the
Finance Division showed an increase due to an increase in staffing levels.
Even though there was a decrease in Public Safety expenditures, the City Council
continued its emphasis on traffic safety issues and crime prevention. The traffic safety
emphasis consisted of instituting traffic checkpoints and increased enforcement around
the City's schools. The Sheriff's Department's contract costs actually showed an
increase of $216,910 due to increased contract rates. Last fiscal year saw a tremendous
increase in Building and Safety activity due to the construction of a housing tract and the
construction of four office buildings. This fiscal year the Building and Safety activity
normalized and therefore showed a decrease of $299,424. This decrease is offset by a
corresponding decrease in related revenues.
During FY98-99, the City's street and public works expenditures were lower than FY
99-00 due to the timing of several construction projects. Last fiscal year, even though
there were several projects budgeted, the timing was such that the contracts did not get
awarded until very late in the year. Therefore most of the work was accomplished this
fiscal year.
The Community Development category was significantly higher this fiscal year for
several reasons. The primary increase is due to a $670,000 exchange of Proposition A -
Transit Funds for general fund money. The increase was also due an increase in the
expenditure of Community Block Grant Funds.
Increases in Parks, Recreation, and Culture were due to several different factors. The
main reason for the increase was the decision by the City Council to bring the recreation
services function in-house. Previously, the City contracted with the City of Brea for
recreation services. Expenditures were higher this fiscal year as a result of the transition
and initial setup costs. This fiscal year this division also started to create its own
recreation activity newsletters and brochures resulting in a related increase in personnel
and printing costs. Reflected in this category is the City Millennium Celebration at a cost
of $95,134. Park utility and maintenance costs were also higher this fiscal year.
As reflected in the numbers, the City's Capital Improvement Program made great strides
this fiscal year. As. stated earlier, the City completed several major road improvement
projects, traffic signal projects, as well as constructing a skateboard park. Major capital
outlay items for FY99-00 included the purchase of two vehicles, upgrade to the
document imaging system and equipping new City staff with computers and
miscellaneous equipment.
Last fiscal year another category was added to the expenditure summary. This category,
Cost of Property Sold, was an offset to the Proceeds from Sale of Property category in
the revenue summary. It was set up to account for activities related two development
and disposition agreements entered into by the Diamond Bar Redevelopment Agency.
As such, this expenditure was unique to last fiscal year.
Debt Service requirements were increased as a result of the City redevelopment agency's
increased indebtedness.
Fund Balances
The General Fund ended the 1999-00 fiscal year with a fund balance of $19,055,968. t
This is an increase of $2,838,768 or approximately 17.5% increase from the balance at
June 30, 1999. Of this, $193,323 is reserved for encumbrances. There is $5,693,462
reserved for Advances to the Diamond Bar Redevelopment Agency. In addition, there is
$114,104 designated for specific projects and programs, including $101,424 for library
service enhancement. This leaves an undesignated fund balance of $13,055,079.
Cash Management
The City invests temporarily idle funds in accordance with the Government Code and the
investment policy approved by the City Council. During FY99-00, funds were invested
in the Local Agency Investment Fund (LAIF), which is administered by the State
Treasurer's Office and a Money Market Mutual Fund account with Well's Fargo Bank.
The City invested in LAIF to the maximum balance of $30,000,000, any available cash
over and above the LAN account is invested in the Money Market Mutual Fund. The
City manages all of its cash and investments on a pooled basis. 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 5.7%.
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, 1998. The total over -funded pension
obligation applicable to the City employees was $545,541 at June 30, 1998. The City's
contribution to the system based on actuarially determined requirements was $218,050
for FY99-00.
For the three years ended June 30, 1998, 1999 and 2000 the total contribution to PERS
was 13.65%, 13.16% and 10.95% 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, 2000, the City of Diamond Bar had no outstanding general obligation
bonds.. In fiscal year 1994-95, the City entered into a lease agreement for financing the
acquisition of a telephone system in the amount of $22,356 to be paid in sixty monthly
installments that ended in March 2000.
Risk Management
The City of Diamond Bar is a member of the California Joint Powers Insurance
Authority (CJPIA) for the purpose of pooling its general liability losses and claims with
the approximately 83 other member agencies. Each member agency retains the first
$20,000 of each claim. Claims above $20,000 are shared by all the member agencies up
to a maximum of $50,000,000 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 CJPIA. The City Council established a
policy of annually transferring $100,000 to the fund to. create a self-insurance reserve.
Policy states that when the reserve reaches $1,000,000, the reserves are deemed to be
sufficient. No transfer was necessary this fiscal year, since the reserves reached that
milestone in fiscal year 1998-99. The self-insurance. reserve at June 30, 2000 was
$1,214,932.
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 L.L.P., for its
expertise and advice in the preparation of the City's 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,
James DeStefa o
Interim City Manager
&W
WFFICIAILS OF THE CITY OF DIAMOND BAR
June 30, 2000
Deborah H. O'Connor, Mayor
Eileen R. Ansari, Mayor Pro Tem
Wen Chang, Council member
Carol Herrera, Council member
Robert S. Huff, Council member
Terrence L. Belanger, City Manager
James DeStefano, Deputy City Manager
David A. Doyle, Deputy City Manager
Michael Jenkins, City Attorney
Lynda Burgess, City Clerk
Bob Rose, Community Services Director
David G. Liu, Deputy Public Works Director
Linda G. Magnuson, Finance Director
Lo
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Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Diamond Bar,
California
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1999
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
OF
NWMB STA
CANADA President
COVOPAMN
STAL
Executive Director
(This page intentionally left blank)
,F
r�4OF,
{� Y
x
l he Dig it nand L ul-
CONRADAND CERTIFIED PUBLIC ACCOUNTANTS
ASSOCIATES, L.L.P. 1100 MAIN STREET, SUITE C
IRVINE, CALIFORNIA 92614
(949) 474-2020
Fax (949) 263-5520
Honorable Mayor and City Council
City of Diamond Bar
i 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, 2000, 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 and the
t standards applicable to financial audits contained in Government Auditing Standards, issued by
the Comptroller General of the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
In our opinion, the general purpose financial statements referred to above present fairly, in all
material respects, the financial position of the City of Diamond Bar, California as of June 30,
2000, and the results of its operations and the cash flows of its proprietary fund type for the year
then ended in conformity with generally accepted accounting principles.
Our audit was performed 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.
In accordance with Government Auditing Standards, we have also issued our report dated
September 22, 2000 on our consideration of the City of Diamond Bar's internal control over
financial reporting and our tests of its compliance with certain provision of laws, regulations,
contracts and grants. That report is an integral part of an audit performed in accordance with
Government Auditing Standards and should be read in conjunction with this report in
considering the results of our audit.
iso -c . �.
September 22, 2000
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
June 30, 2000
Governmental Fund T - es
peci apita
Assets and other debits General Revenue kiokcts
Assets:
Cash and investments (note 2)
Accounts receivable
$15,176,278
170,054
Interest receivable
Due from employees
Due from other funds 10)
377,860
1891
,
(note
Due from other governments
Prepaid ex enses
-
1,029,524
Advances to other funds (note 6)
-
'5,693,462
Fixed assets (note 3)
Other debits:
Amount to be provided for
retirement of general long-term
debt
Total assets
449.069
Liabilities, equity and other credits
Liabilities:
Accounts payable
Accrued payroll
$ 1,261,998
119667
Retentions payable
,
-
Deferred revenue
Due to other funds (note 10)
440,236
828,268
Deposits
Due to other governments
Compensated -absences
742932
,
-
pa able (note
Obligations under capitdI ease
4)
(notes 4 and 5)
Advances from other funds
(notes 4 and 6)
Total liabilities
3,393,101
Equity and other credits:
investment in general fixed assets
Retained earnings:
-
Unreserved
Fund balances (note 8):,-
Reserved
Unreserved - designated
5,886,785
114,104..
Unreserved - undesignated
13,055,079
Total equity and other credits
- 19,055,968
Total liabilities, equity
and other credits
22 449,069
9,592,247
1,841
655,909
10,249,997
997
212,775
6,915
15,200
464,619
699,500
.6 9,926
9,480,562
9 550 48�8
1--0,2-4-94,9-97
1,403,138
.11,921
1,292,887
22-07,946
480,459
249,575
1,683,041
144,844
Proprietary
Tv e
ntemal—
Service
1,129,247
141,046
i,612
32,822
17,795
2,557,919 17,795
76664
139'131
. . ...... (65!'Y768
150,027
2,707,946
See accompanying notes to the financial statements.
2
1,292,932
,292,932
1,310,727
Account Grows
Ueneral Ueneral
Fixed Assets Long -Term Debt
11,134,620
11,134,620
11,134,620
11,134,620
11,134,620
5,845,8
5.845,879
152,417
5,693,462
5,845,879
5,845,879
01
Totals
emorandum Onl
27,300,910
26,257,407
284,982
09 982
389,781
083
1,292,887
1,177,314
1,685,433
1,809,565
5,693;462
4,556,753
11,167,442
7,008,196
5,845,879 4,703,853
53,698,238 46,116.643
1,973,027
126,582
264,775
440,236
1,292,887
2,425,973
144,844
152,417
5,693,462
12,514,203
11,134,620
1,292,932
6,033,375
9,733,797
12,989,311
41.184,035
53,698.238
1,572,221
122,670
17,126
250,752
1,177,314
2,231,483
151,474
143,049
4,051
4.556,753
10,226,893
7,008,196
1,100,520
5,269,654
11,175,416
11,335,964
35,889,750
46,116,643
lKalso
Combined Statement of Revenues, Expenditures and Changes in Fund Balances -
All Governmental Fund Types
Year ended June 30, 2000
Special
Capital(Memorandum
Totals
Onl
General
Revenue
Projects
2000---f91
Revenues:
Taxes $
Special assessments
6,294,104
-
-
547,041
-
-6,294,104
547,041
5,878,376
553,443
Licenses, permits and fees
1,575,501
-
91225
1,666,726
2,147,195
Intergovernmental
3,629,212
3,884,132
200:000
7,713,344
6,535,812
Fines and forfeits
556,527
-
-
556,527
573,449
Charges for se�i es
-
1,712,737
1,712,737
481,248
Proceeds from ,e of property -
-
-
-
6,095,931
Investment income
760,874
570,064
64,847
1,395,785
1,191,305
Other revenues
- 54,443
-
5,000
. .... ..... . , 59,443
63,309
Total revenues
12,870,661
6,713,974
361,012
19,945,707
23,520,068
Expenditures:
Current:
Generalgovernment
Public safety.
2,868907
4,638:999
-
15,188
-
-
2,868,907
4,654,187
2,498,905
4,738,375
Highway and streets
909642
-
909,642
1,187,265
Public works
Community development
1,188,335
581:621
859,818
-1,769,956
342,467
1,202,285
1,652,524
397,081
Parks, recreation and
culture
Capital outlay
1,713,011
137,287
92,478
299,623
-
5,960,382
1,805:489
6,3972 92
1,489,708
1,204,727
Cost of property sold
-
-
-
-
9,462,013
Debt service:
Interest
-
-
305,090
305,090
106,440
Total expenditures
10,546,539
2,758,370
6,607,939
19,912,848
22,737,038
Excess (deficiency) of
revenues over (under)
expenditures
2,324,122
3,955,604
(6,246,867
32,859
783,030
Other financing sources (uses):
Operating transfers in
Operating transfers out
868,722
(354,076)
-
(5,472,150)
4,825,014
5,693,736
(5,826,226)
2,076,231
(2,235,696)
Proceeds of advances
-
1,13 709
1,136,709
3,815,227
Total other financing
sources (uses)
514,646
(5,472,150)
5,961,723
1,004,219
3,655,762
Excess (deficiency) of revenues
and other financing sources
over (under) expeflditures and
other financing uses
2,838,768
(1,516,546)
(285,144)
1,037,078
4,438,792
Fund balances at be* *
of year, as restated note I2)
16,217,200
11,067,034
435,171
27,719,405
23,342,242
Fund balances at end of year $19,055,968
9,550,488
150,027
28,756,483
27.781,034
See accompanying notes to the f
mancial statements.
4
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances - Budgef and Actual
Revenues:
Taxes
Special assessments
Licenses, permits and fees
Intergovernmental
Fines and forfeits
Charges for services
Proceeds from sale of property
Investment income
Other revenues
Total revenues
Expenditures:
Current:
Generalovernment
Public saety
Highways and streets
Public works
Community development
Parks, recreation and culture
Capital outlay
Cost of property sold
Debt service:
Interest
Total expenditures
Excess (deficiency of
revenues over (un er)
expenditures
Other financing sources (uses):
All Governmental Fund Types
Year ended June 30, 2000
General
Budget
Actual
v anance
Favorable
(Unfavorable)
$ 5,799,000
6,294,104
495,104
1,539,480
3,028,830
.1,575,501
3,629,212
36,021
600,382
377,500
556,527
179,027
656,000
49,415
760,874
54,443
104,874
5,028
11,450,225
12,870,661
1,420,436
3,273,819
4,709,175
2,868,907
4,638_999
404,912
70,176
1,645,216
1,188,335
456,881
1,992,303
1,713,011
279,292
227,301
137,287
90,014
11,847,814
10,546,539
1,301,275
(397,589)
2,324,122
2,721,711
Operating transfers in 1,092,600
Operating transfers out (1,144,000)
Proceeds of advances -
Total other financing sources (uses) (51,400)
Excess (deficiency) of revenues
and other financing sources over
(under) expenditures and other
financing uses (448,989)
Fund balances at beinning of year,
as restated (note 1 16,217,200
Fund balances (deficit) at end of year $15,768,211
868,722 (223,878)
(354_076) 789,924
514,646 566,046
2,838,768 3,287,757
16,217,200
1,9055:968 3.287,757
See accompanying notes to the financial statements.
W
Special Revenue
EXHIBIT CC
Capital Proiects
15,188
909;642
ananc
Favorable
Budget
Actual
(Unfavorable)
548,652
547,041
(1,611)
4,181,319
3,884,132
(297,187)
1,732,000
1,712,737
(19,263)
517,500
570,064
52,564
6,979,471
6,713,974
2§1497)
EXHIBIT CC
Capital Proiects
33,865
932,310
15,188
909;642
v anance
Favorable
Budget
Actual
(Unfavorable)
565,000
91,225
(473,775)
200,000
200,000
_
167,740
419,650
65,000
65,000
-
5,960_382
5,730_249
765,000
361,0724(
03,92
33,865
932,310
15,188
909;642
18,677
22,668
-
-
-
-
-
-
607,252
846,974
581,621
859,818
25,631
(12,844)
-
572,920
-
342,467
-
230,453
167,740
419,650
92,478
299,623
75,262
120,027
11,690_631
5,960_382
5,730_249
_
-
-
305,090
305 090
3,007,791
2,758 ,370
249,421
12,263,551
6 607,939.
5655,612
3 971 , 680
3 955 604
,
(16'076
(11,498,551)
( 6 ,246,867,
5251,68-4
-
9,044,032
4,825,014
(4,219,018)
(9,281_632)
(5,472,150)
3,809_482
1,592,306
1,136,709
455 597 .
9 2, 81,632
X5,472,150
3,809,482
10,636,338
5,961,723
4 65 , 74,615
i
l
(5,309,952)
(1,516,546)
3,793,406
(862,213)
(285,144)
577,069
11,067,034
11,067,034
-
435,171
435,171
-
5,757,082
9,550,488
3,793,406
- 427,04
150,027
577,069
6
CITY OF DIAMOND BAR EXHIBIT DD
Combined Statement of Revenues, Expenses, and Changes in Retained Earnings -
Internal Service Fund Type
Year ended June 30, 2000
Operating revenues:
Insurance deposits
Total operating revenues
Operating expenses:
Insurance premiums
Depreciation
Total operating expenses
Operating income (loss)
Non-operating revenues:
Investment income
Total non-operating revenues
Income (loss) before operating transfers
Operating transfer in
Total operating transfers
Net income (loss)
Retained earnings at beginning of year
Retained earnings at end of year
2000
1999
$ 61,790
_61,790
52,491
284,400
20
,_00
-
54,491
284,400
7,299
_J284 400
52,623.
49,604
_52,623
49,604
59,922-J23
�796
132,490
159,465
132,490
159,465
192,412
(75,331)
1,100520
1,175 ,851
1 292 932
1,100 520
See accompanying notes to the financial statements.
7
CITY OF DIAMOND BAR
Combined Statement of Cash Flows — Internal Service Fund Type
Year ended June 30, 2000
I`
�. See accompanying notes to the financial statements.
8
2000
1999
Cash flows from operating activities:
Insurance deposits
$ 61,790
-
Insurance payments2(
26,9181(
53,27
Net cash provided by (used for) operating activities1_
( 65,128,
_ (153,276)
Cash flows from noncapital financing activities:
Cash transferred from other funds
132,490
159,465
(! Net cash provided by noncapital financing activities
132,490
159,465
Cash flows from investing activities:
Interest received from investment
52,623
49,604
Purchase of equipment
17 027
-
Net cash provided by investing activities
35,596
49004
i
Net increase in cash and cash equivalents
2,958
55,793
Cash and cash equivalents at beginning of year
1,126,289
1,070,496
Cash and cash equivalents at end of year
$1,129,247
1,126.289
Reconciliation of net operating income to net
cash provided by (used for) operating activities:
Operating income (loss)
$ 7,299
(284,400)
Adjustments to reconcile operating income to net
cash provided by (used for) operating activities:
Depreciation
j (Increase) decrease in accounts receivable
2,000
(141,046)
(Increase) decrease in prepaid insurance
(7,612)
107,096
(Decrease) increase in accounts payable
(25,7
24,028
Net cash provided by (used for) operating activities165.128)
153 27
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 2000, there were no noncash investing, capital or financing
activities.
I`
�. See accompanying notes to the financial statements.
8
Notes to the Financial Statements
Year ended June 30, 2000
(1) Summary of Significant Accounting Policies
(a) Description of the Reporting Entity
The City of Diamond Bar (City) 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.
The accounting policies of the City conform to generally accepted accounting
principles as applicable to governments. As required by generally accepted
accounting principles, these financial statements present the government and its
component units, entities for which the government is considered to be financially
accountable. 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 provide specific financial benefits to or
impose specific financial burdens on the City. The City is also considered to be
financially accountable if an 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.
All of the City's component units are considered to be blended component units.
Blended component units, although legally separate entities, are, in substance,
part of the government's operations and so data from these units are reported with
the interfund data of the primary government. The following organization is
considered to be a component unit of the City:
Diamond Bar Redevelopment Agency
The Diamond Bar Redevelopment Agency (Agency) was established on February
6, 1996 pursuant to the State of California Health and Safety Code Section 33000
entitled "Community Redevelopment Law". Its purpose is to prepare and carry
out plans for improvements, rehabilitation and redevelopment of blighted areas
within the territorial limits of the City of Diamond Bar. Even though it is legally
separate, it is reported as if it were part of the City because the City Council also
serves as the governing board of the Agency. Upon completion, separate
financial statements of the Agency can be obtained at City Hall.
9
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
(b) Fund Accounting '
The basic accounting and reporting entity is a "fund." A fund is defined as an
independent fiscal and accounting entity with a self -balancing set of accounts,
recording resources, related liabilities, obligations, reserves and equities
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.
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.
luge-JUNIN• ; 1►I�
The City applies all applicable GASB pronouncements in accounting and
reporting for its proprietary operations as well as the following pronouncements
issued on or before November 30, 1.989, unless these pronouncements conflict
with or contradict GASB pronouncements: Financial.; Accounting Standards
Board (FASB) Statements and Interpretations, Accounting. Principles Board
(APB) Opinions, and Accounting Research Bulletins (ARBs) of the Committee
on Accounting Procedures. Proprietary funds include the following fund type:
10
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
Summary of Significant Accounting Policies, (Continued)
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.
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 the general fixed assets account group at their estimated fair
market value when received. Fixed assets acquired under a capital lease are
recorded at the net present value of the future minimum lease payments.
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 Long -Term Debt Account Group
The General Long -Term Debt Account Group is used to account for all long-term
debt of the City, except debt 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.
11
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
The proprietary (internal service) fund types are accounted for on an "income
determination" or "cost of services" measurement focus. Accordingly, all assets
and liabilities are included on the balance sheet, and the reported fund equity
provides an indication of the economic net worth of the fund. Operating
statements for proprietary fund types report increases (revenues) and decreases
(expenses) in total economic net worth.
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.
The accrual basis of accounting is utilized by the proprietary funds. Revenues are
recognized when they are earned and expenses are recorded when the related
liability is incurred. Unbilled service receivables, if material, have been reflected
in the financial statements.
(d) Budgetary Data
The City adopts an annual budget prepared on the modified accrual basis for all of
its governmental funds. Revisions that alter the total appropriations of any funds
must be 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 $3,864,098.
12
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
(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
balances for governmental fund types.
(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) Cash and Investments
Investments are reported in the accompanying balance sheet at fair value.
Changes in fair value that occur during a fiscal year are recognized as investment
income reported for that fiscal year. Investment income includes interest earnings,
changes in fair value, and any gains or losses realized upon the liquidation or sale
of investments.
The City pools cash and investments of all funds. Each fund's share in this pool
is displayed in the accompanying financial statements as cash and investments.
Investment income earned by the pooled investments is allocated to the various
funds based on each fund's average cash and investment balance, except for
$760,874 of investment income (associated with funds not legally required to
receive pooled investment income) that has been assigned .to and recorded as
revenue of the general fund, as provided by California Government Code Section
53647.
(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, and have an original
maturity date of 3 months or less. Cash equivalents also represent the proprietary
funds' share in the cash and investment pool of the City of Diamond Bar.
13
CITY OF DIAMOND BAR
Notes to the 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, 2000.
The County of Los Angeles assesses, bills, and collects property taxes for the
City.
0) 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. In governmental fund types, the cost of vacation and sick leave
benefits is recognized when payments are made to employees. A long-term
liability of $152,417 of accrued benefits has been recorded by using the vesting
method in the long-term debt account group representing the City's commitment
to fund such costs from future operations.
(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) Postemployment Benefits
The City does not provide postemployment benefits
for its employees. (other than pension benefits)
(n) Property Taxes
Under California law,property taxes are assessed and collected by the counties up
to 1% of assessed value, plus other increases approved by the voters. The
property taxes go into a pool, and are then allocated to the cities based on
complex formulas. Accordingly, the City of Diamond Bar accrues only those
taxes which are received within 60 days after year end.
14
Notes to the Financial Statements
(Continued)
Summary of Significant Accounting Policies, (Continued)
gm c
-
(n) Property Taxes, (Continued)
The property tax calendar is as follows:
Lien Date:
Levy Date:
Due Date:
Delinquent Date:
March I
July 1
First Installment - November 1
Second Installment - February 1
First Installment - December 11
Second -Installment - April 11
Taxes are collected by Los Angeles County and are remitted to the City
periodically. Dates and percentages are as follows:
-December 10 30% Advance
January 16 Collection No. I
April 10 10% Advance
May 15 Collection No. 2
July 31 Collection No. 3
(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 the related assets are reported in the general 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 us I eiful 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) Proprietary Funds Fixed Assets
Fixed assets of the City's proprietary funds (i.e., Equipment Replacement Fund)
are recorded at historical cost or estimated fair market value at the date of
contribution.
15
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
(p) Proprietary Funds Fixed Assets, (Continued)
Depreciation has been provided over the estimated useful life using the straight-
line method. The estimated useful lives are as follows:
Automobile Equipment 5 Years
(q) 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.
(r) 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. t
(2) Cash and Investments
Cash and investments held by the City at June 30, 2000 consisted of the following:
Imprest cash on hand $ 300
Deposits 1,417,227
State Treasurers investment pool 24,912,483
Money market mutual fund 97090 l
Total $27,300,910
16
CITY OF DIAMOND BAR.
Notes to the 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:
Medium term corporate notes.
Demand deposits with financial institutions
Passbook savings accounts
Certificates of deposit .
U.S. Treasury bills and notes
Bankers' acceptances
Commercial paper
State Treasurer's Investment Pool
Repurchase Agreements
Negotiable certificates of deposit
Money market funds
Federal Agency Securities
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 institution's 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.
;17
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(2) Cash and Investments, (Continued)
Deposits held by the City as of June 30, 2000 are classified in risk categories as follows:
Category Bank
Form of Deposit 1 2 3 Balance Amount
Demand deposits $100,000 201,510 - 301,510 353,176
Certificate of deposit ' 100,000 964,051 - 1,064,051 1,064.051
Total deposits &200,000 1,165,561 - 1,365,561 1.417.227
Investments held by the City as of June 30, 2000 are not classified by custodial risk
because they do not represent a direct investment in securities.
Carrying
Amount
Investments held by City not subject to categorization:
Investment in State Treasurer's Investment Pool $24,912,483
Money market mutual fund 970,900
Total investments $25.883,383
The carrying amount of all investments in the above table is at fair value.
The City is a voluntary participant in the Local Agency Investment Fund (LAIF), which
is the state treasurers investment pool, that is regulated by California Government Code
Section 16429 under the oversight of the Treasurer of the State of California. The fair
value of the City's investment in this pool is reported in the -accompanying financial
statements at amounts based upon the City's pro -rata share of the fair value of the entire
LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available
for withdrawal is based on the accounting records maintained by LAIF, which are
recorded on an amortized cost basis. Included in LAIF's investment portfolio are
collateralized mortgage obligations, mortgage=backed securities, other asset-backed
securities, loans to certain state funds, and floating rate securities issued by federal
agencies, government-sponsored enterprises, and corporations.
18
Notes to the Financial Statements
(Continued)
(3) Fixed Assets
Internal Service
Machinery and equipment
A summary of changes in
general fixed assets follows:
Less accumulated depreciation
(2,000
Balance at
Balance at
(4) General Long -Term Debt
July 1, 1999
Additions Deletions
June 30, 2000
Land
$1,569,898.
3,600,000
5,169,898
Buildings
1,159,345
City:
1,159,345
Improvements other than
Compensated absences payable
$ 143,049
9,368 - .152,417
buildings
2,915,351
- 4,051 -
2,915,351
Vehicles and equipment
1,164,874
164,141
.1,329,015
Furniture and fixtures
198,728
26,963
225,691
Construction in progress
-
335,320
335,320
Total
$7,008 l96
4,126,42.
11,134,62-0-
A summary of proprietary type fixed assets at June 30, 2000 follows:
19
Internal Service
Machinery and equipment
$ 34,822
Less accumulated depreciation
(2,000
Total
32 822
(4) General Long -Term Debt
Changes in general long-term debt for the year ended June 30, 2000 were as follows:
Balance at
Balance at
July l,1999
Additions -Retirements June 30,2000
City:
Compensated absences payable
$ 143,049
9,368 - .152,417
Obligations under capital lease
4,051
- 4,051 -
Redevelopment Agency:
Advances from other funds
41556,753
1,136,709 5,693,462
Total
4,051 5,845,879
19
AUW• • � C M-1
Notes to the Financial Statements
(Continued)
(5) Obligations Under Capital Lease
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 ended
in March 2000.
This lease agreement qualifies as a capital lease for accounting purposes and, therefore,
has 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.
(6) Advances From/to Other Funds
During the fiscal year ended June 30, 2000, the General Fund has advanced a total of
$1,136,709 to the Redevelopment Agency Capital Projects Fund for various start up
costs. The following represents a summary of these transactions:
Balances at Balances at
July 1, 1999 Proceeds Repayments June 30, 2000
Agency expenditures
incurred by the City $4,556,753, 1,136,709
Repayment of advances is not required until funds become available to the Agency.
Interest accrues on advances at the average daily rate earned on investments held in the
State Treasurer's investment pool.
(7) Obligations Under Operating Leases
The City leases building and office facilities under noncancelable operating leases. The
total costs for such leases were $251,588 for the year ended June 30, 2000. The future
minimum lease payments for the lease of building and office facilities are as follows:
Year ending June 30
2001
$248,288
2002
260,915
2003
14,700
2004
14,700
2005
12,250
Total
S550853
20
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
8) Reserves and Designations of Fund Balances
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, 2000 consisted of the following reserves and designations:
Special Capital Total
General Fund Revenue Projects (Memorandum Only)
Reserved for:
Encumbrances $ 193,323 69,926 76,664 339,913
Advances to the Diamond Bar
Redevelopment Agency 5,693,462 5,693,462.
5,886,785 69,926 76,664 6,033,375
Unreserved:
Designated for:
Specific projects and programs 114,104 9,480,562 139,131 9,733,797
Undesignated 13,055,079 (65,768 12,989,311
13,169,183 9,480,562 73,363 22,723,108
Total fund balances$19,055,968 2.5� 1�0 027 28
(9) City Employees Retirement Plan
Plan Description
The City of Diamond Bar contributes to the California Public Employees Retirement
System (PERS), an agent multiple -employer public employee defined benefit pension
plan. PERS provides retirement, disability benefits, and death benefits to plan members
and beneficiaries. PERS acts as a common investment and administrative agent for
participating public entities within the State of California. Copies of PERS' annual
financial report may be obtained from its executive office: 400 "P" Street, Sacramento,
California 95814.
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
9) City Employees Retirement Plan, (Continued
Funding Policy
Participants are required to contribute 7% of their annual covered salary. The City makes
the contributions required of City employees on their behalf.and for their account. For
the year ended June 30, 2000, the amount contributed by the City on behalf of the
employees was $140,829. The City is required to contribute at an actuarially determined
rate calculated as a percentage of coveredpayroll. The employer contribution rate for the
year ended June 30, 2000 was 3.954% for miscellaneous employees. Police and fire
protection services are contracted services from outside agencies. Accordingly, no
contribution is required for police and fire protection services. Benefit provisions and all
other requirements are established by state statute and city contract with employee
bargaining groups.
Annual Pension Cost (APC)
For the year ended June 30, 2000, the City's annual pension cost (employer contribution)
of $77,221 for miscellaneous employees was equal to the City's required and actual
contributions. The required contribution was determined as part of the June 30, 1998,
actuarial valuation using the entry age normal actuarial cost method. Paragraph 9 of
GASB No. 27 requires that the annual required contribution reported for the current year
should be based on the results of an actuarial valuation performed as of a date not more
than 24 months before the beginning of the employer's fiscal year. Paragraph 22 of
GASB Statement No. 27 requires that agent employers also disclose actuarial information
for the most recent actuarial valuation. An actuarial valuation as of June 30, 1999 has not
yet been completed and made available by PERS to the City. The actuarial assumptions
included (a) 8.25% investment rate of return (net of administrative expenses), (b)
projected annual salary increases that vary by duration of .service, and (c) 2% per year
cost -of -living adjustments. Both (a) and (b) included an inflation component of 3.5%.
The actuarial value of PERS assets was determined using techniques that smooth the
effects of short-term volatility in the market value of investments over a four-year period
(smoothed market value). PERS' unfunded actuarial accrued liability is being amortized
as a level percentage of projected payroll on a closed basis. PERS has combined the
prior service unfunded liability and the current service unfunded liability into a single
initial unfunded liability. The single funding horizon for this initial unfunded liability is
June 30, 2019.
Miscellaneous Employees
Three -Year Trend Information
Annual Pension Cost Percentage of Net Pension
Fiscal Year Annual
Contribution) APC Contributed Obligation
6/30/98 $95,149 100% $0
6/30/99 92,239 100% 0
6/30/00 77,221 100% 0
22
Notes to the Financial Statements
(Continued)
(9) City Employees Retirement Plan, (Continued)
Required Supplementary Information
Entry Age
Normal Actuarial Unfunded
Annual
UAAL as
Actuarial Accrued Value Liability/
Funded Covered
a% of
Valuation Date Liability of Assets (Excess Assets)
Status Payroll
Payroll
6/30/96 $1,149,112 $1,260,660 $(111,548)
109.7% $1,306,702
(8.5370/.)
6/30/97 1,334,707 1,656,895 (322,188)
124.1% 1,411,740
(22.822%)
6/30/98 1,661,909 2,207,450 (545,541)
132.8% 1,392,605
(39.174%)
(10) Due From and To Other Funds
Current interfund receivables and payables balances at
June 30, 2000 are as follows:
Due
Due
from
to
Other Funds Other Funds
General fund
$ -
828,268
Special revenue funds:
State gas tax
-
32,164
ISTEA
-
394,936
Park and facility development
-
3,541
Community development block grant
-
33,978
Capital projects funds:
Capital improvement
561,106
-
Redevelopment agency
731,781
-
Total
$1,292,887
1,292,887
(11) Claims and Judgments
The City is a member of the California Joint Powers Insurance Authority (Authority).
The Authority is composed of 84 California public entities and is organized under a joint
powers agreement pursuant to California Government Code Section 6500 et seq. The
purpose of the Authority is to arrange and administer programs for the pooling of self-
insured losses, to purchase excess insurance or reinsurance, and to arrange for group -
purchased insurance for property and other coverages. The Authority's pool began
covering claims of its members in 1978. Each member government has an elected
official as its representative on the Board of Directors. The Board operates through a 9 -
member Executive Committee.
23
Notes to the Financial Statements
(Continued)
(11) Claims and Judgments, (Continued)
(a) City's Participation in Self -Insurance Programs of the Authority
General Liability
The City pays a primary deposit to cover estimated losses for a fiscal year
(claims year). Six months after the close of a fiscal year, outstanding claims are
valued. A retrospective deposit computation is then made for each open claims
year. Costs are spread to members as follows: the first $20,000 of each
occurrence is charged directly to the City; costs from $20,001 to $500,000 are
pooled based on a members share of costs under $20,000; costs from $500,001 to
$5,000,000 are pooled based on payroll. Costs of covered claims above
$5,000,000 are currently paid by reinsurance. The protection for the City is
$50,0.00,000 per occurrence and $50,000,000 annual aggregate.
Property Insurance
The City participates in the all-risk property protection program of the Authority.
This insurance protection is underwritten by several insurance companies. The
City's property is currently insured according to a schedule of covered property
submitted by the City to the Authority. Total all-risk property insurance
coverage is $100,000,000 per occurrence. There is a $5,000 per loss deductible.
Premiums for the coverage are paid annually and are not subject to retroactive
adjustments.
Fidelity Bonds
The City purchases blanket fidelity bond coverage in the amount 'of $1,000,000
with a $5,000 deductible. The fidelity coverage is provided through the
Authority. Premiums are paid annually and are not subject to retroactive
adjustments.
(c) Adequacy of Protection
During the past three fiscal (claims) years none of the above programs of
protection have had settlements or judgments that exceeded pooled or insured
coverage. There have been no significant reductions in pooled or insured
liability coverage from coverage in the prior year.
24
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(12) Restatement of Beginning Fund Balances
The accompanying financial statements reflect an adjustment which resulted in a
restatement of beginning fund balance of the COPS Fund in the Special Revenue Fund.
(a) The City has decreased its beginning COPS fund balance (a special revenue fund)
for the over -accrual of revenue for the Local Law Enforcement Block Grant.
Special Revenue
Fund Type
Fund balance as previously reported, June 30, 1999 $11,128,663
(a) Adjustment to the over -accrual of revenue (61,629)
Fund balance as restated, July 1, 1999 $11.067,034
(13) Individual Fund Disclosures
(A) Expenditures exceeded appropriations in individual funds for the year ended June
30, 2000 as follows:
Excess
Budget Actual Expenditures
Special Revenue Funds:
Community Development
Block Grant Fund176,974 189,818 1.844
(B) Deficit fund balances at June 30, 2000 were as follows:
Fund Balance Deficit
Capital Projects Funds:
Capital Improvement Fund 65 768
The deficit in the Capital Improvement Fund will be funded by future year allocations
from Los Angeles County.
(14) 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.
i
25
(This page intentionally left blank)
GENERAL FUND
To account for all of the general revenue of the City not specifically levied or collected for other
City funds and for expenditures related to rendering the general services provided by the City.
CITY OF DIAMOND BAR
General Fund
Comparative Balance Sheets
June 30, 2000
la.m.11:311M
Liabilities and fund eaui
Liabilities:
Accounts payable
2000
1999
Assets
Accrued payroll
119,667
Cash and investments
$15,176,278
12,766,083
Accounts receivable
170,054
259,729
Interest receivable
377,860
304,685
Due from employees
1,891
9,490
Due from other funds
-76,635
548,442
Due from other governments
1,029,524
1,126,947
Advances to other funds
-- 5,693,462
4,556,753
Total assets
22 449,069
,322
191,00 —
Liabilities and fund eaui
Liabilities:
Accounts payable
$ 1,261,998
1,220,177
Accrued payroll
119,667
117,106
Retentions payable
-
300
Deferred revenue
440,236
144,824
Due to other funds
828,268
852,273
Deposits
--- 742,932
548,442
Total liabilities
3,393,101
2,883,122
Fund equity:
Reserved for:
Debt service
-
4,051
Encumbrances
193,323
209,713
Advances to the Diamond Bar
Redevelopment Agency
5,693,462
4,556,753
Unreserved:
Designated for:
Specific projects and programs
114,104
110,719
Undesignated
13,055,079
11,335,964
Total fund equity
19,055,968
16,217,200
Total liabilities and fund equity
S22,449,069
19.100,322
�-27
CITY OF DIAMOND BAR
General Fund
Schedule of Revenues - Budget and Actual
Year ended June 30, 2000
Taxes:
Real estate transfer tax
Sales and use tax
Franchise fees
Transient occupancy tax
Property tax allocation
Total taxes
Licenses, permits and fees
Intergovernmental:
Motor vehicle in lieu tax
Homeowners exemption
-Off highway tax
Grants
Total intergovernmental
Fines and forfeits
Investment income
Other revenues:
Rental income
Donations
Miscellaneous
Total other revenues
Total revenues
Budget Actual
$ 190,000 269,390
2,500,000 2,814,441
650,000 684,684
380,000 480,160
2.079,000 2,045.429
5.799,000 6,294,104
1,539,480 1,575,501
2,550,000.
3,142,078
30,000
33,341
1,800
1,148
447,030
452,645
3,028 830
3,629,212
377,500
556,527
656,000
760,874
30,000
40,438
3,915
4,240
15,500
9,765
49.415
54.443
$11,450,225 12,870,661
28
.A M 9M
Variance -
Favorable 1999
(Unfavorable) Actual
79,390
215,153
314,441
2,666,743
34,684
667,268
100,160
338,725
(33,571)
1,990,487
495,104
5,878,376
36,021-
2,145,623
592,078
3,309,862
3,341
34,171
(652)
2,074
5,615
-
600,382
3,346,107
179,027
573,449
104,874
596,019
10,438
27,796
325
4,149
(5,735
29,364'
5,028
61,309
1,420,436
12,600,883
10.14:11
CITY OF DIAMOND BAR
General Fund
Schedule of Expenditure- Budget and Actual
Year ended June 30, 2000
29
Variance -
Favorable
1999
Budget
Actual
(Unfavorable)
Actual
General government:
City Council
$ 158,570
155,273
3,297
155,767
City Manager
372,040
371,652
388
419,538
City Clerk
270,850
245,429
25,421
202,118
Finance
287,100
265,045
22,055
224,212
City Attorney
464,348
397,537
66,811
262,938
Planning
486,987
445,476
41,511
378,279
Community development
62,950
43,671
19,279
General government,
762,554
643,053
119,501
516,787
Communication and marketing
408,420
301,771
106,649
339,266
Total general government
3,273,819
2,868,907
404,912
2,498,905
Public safety:
Law enforcement
4,169,300
4,090,001
79,299
3,872174
Fire
7,360
7,359
1
71,359
Building and safety
428,000
448,101
(20,101)
747,374
Animal control
66,000
65,244
756
61,927
Emergency preparation
38,515
28,294
10,221
26,512
Total public safety
4,709,175
4,638,999
70,176
4,715,346
Public works
1,645,216
1,188,335
456,881
1,224,045
Parks, recreation, and culture
1,992,303
1,713,011
279,292,
1,464,357
Capital outlay
227,301
137,287
90,014
361,018
Total expenditures
$11,847,814
10,54609
1,301,275
10,263,671
29
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 thirteen Special Revenue Funds:
State 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.
j Proposition A Transit Fund - To account for the receipt and expenditure of the City's share of the
%z 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.
Intermodal Surface Transportation Efficiency Act (ISTEA) Fund - To account for the receipt and
disbursement of funds received under the Federal Intermodal Surface Transportation Efficiency
Act (ISTEA) of 1991 program. This program is administered by the State of California
Department of Transportation for improvement of streets and roadways.
Integrated Waste Management Fund - To account for revenues and expenditures related to the
j City's waste reduction efforts as related to AB939.
I'
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.
Bicycle and Pedestrian Fund - To account for revenues and expenditures related to the receipt of
state funds allocated for the purpose of the construction of bike and pedestrian paths.
Park Fees Fund - To account for revenues received and expenditures made for park development
and improvement. The primary source of revenue is park development fees collected from
developers under the State of California's Quimby Act.
Park and Facility Development Fund - To account for the development and enhancement of the
City's parks.
Community Development Block Grant Fund - To account for the City's allotment of CDBG
funds from the federal government via the County of Los Angeles Community Development
Commission. These funds are used to fund community development programs and projects
benefiting low and moderate income citizens.
Citizens Option for Public Safety Fund (COPS) - To account for COPS grants received from
both the state and federal government. The purpose of these funds are to enhance the City's
public safety budget and to fund special public safety related projects.
Asset Seizure Fund - To account for Narcotics Asset Forfeiture funds received from the federal
government. It is required that these funds be used to enhance drug and law enforcement
activities.
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.
30
CITY OF DIAMOND BAR
Special Revenue Funds
Combining Balance Sheet
June 30, 2000
Integrated
Bicycle
State
Prop. A
Prop. C
Waste
Air Quality and
Gas Tax
Transit
Transit
1STEA
Management
Improvement Pedestrian
Assets
Cash and investments
$2,065,072
1,542,295
1,391,095
-
273,027
153,748 -
Accounts receivable
-
-
-
-
1,841
l
Due from other
governments
102,248
-
-
394,936
16,602
Total assets
_$2:167.Q
_1?� 4224�93�
—�
170 X54
Liabilities and fund balances
Liabilities:
Accounts payable
$ -
106,094
-
-
13,348
722 -
Accrued payroll
-
2,252
-
_
1,144
_
Retentions payable
Due to other funds
32,164
-
-
394,936
Due to other
governments
Total liabilities
32,164
108,346
394,936
14,492
722
Fund balances:
Reserved for:
Encumbrances
-
-
-
15,441
26,163 -
Unreserved:
Designated for:
Specific projects
and programs
2,135,156
1,433,949
1,391,095
244,935
143,465
Total fund balances
2,135,156
1,433,949
1,391,095
260,376
l
169,628
Total liabilities and
(
fund balances
$21Q
j 5
QQ
394.93„¢�
170.350 l
EXHIBIT B-1
Park and Community Landscape
Park Facility Development Asset Maintenance Totals
Fees Development Block Grant COPS Seizure District 2000 1999
- 2,434,653
-
185,819 338,195
1,208,343
9,592,247
10,901,601
_ -
-
- -
-
1,841
25,253
11.609.42
62,466
65,026
14,631
655,909
682,618
4 5
"
?
_��
J1
-
11,038
4,791 -
76,782
212,775
133,896
2,250
- -
1,269
6,915
5,564
_ -
15,200
- -
-
15,200
-
- 3,541
33,978
- -
-
464,619
325,041
16,308
3,541
62,466
4,791
78,051
699,509
480,809
- - - 28,322 69,926 203,097
2,431,112 ...
246,054 338,195 1,116,601
9,480,562
10,925,566
2,431,112
246,054 338,195 1,144,923
9,550,488
11,128,663
l
"_�
0� .249.922
11.609.42
.:32
CITY OF DIAMOND BAR
Special Revenue Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Year ended June 30, 2000
33
Integrated
Bicycle
State
Prop. A
Prop. C
Waste
Air Quality
and
Gas Tax •
Transit
Transit
ISTEA
Management
Improvement
Pedestrian
Revenues:
Special assessments
$ - -
Intergovernmental
1,165,503
698,687
581,145
752,327
41,270
64,382
20,417
Charges for services
-
436,530
-
-
69,201
-
_
Investment income
167,296
88,294
101,710
-
13,343
8,659
1,330
Other revenues
Total revenues
1,332,799
1,223,511
682,855
752,327
123,814
73,041
21,747
Expenditures:
Current:
Public safety
Highways and streets
-
909,642
-
_
_
_
_
Public works
-
-
-
-
18,947
-
Community development
-
670,000
Parks, recreation and
culture
-
19,927
-
-
72,551
Capital outlay
85,161
Total expenditures
1,599,569
-
72,551
104,108
Excess (deficiency) of
revenues over (under)
expenditures
1,332,799
(376,058
682,855
752,327
-51,263
(31,067
21,747
Other financing sources (uses):
Operating transfers out
(2,611,283)
141 8611
331 763
752 3273(
6,261)
Total other financing
sources (uses)
(2,611,283
(141,861
1 331763
752 3273(
6,261)
Excess (deficiency) of
revenues and other
financing sources over
(under) expenditures
and other financing uses
(1,278,484)
(517,919)
(648,908)
-
51,263
(31,067)
(14,514)
Fund balances at beginning
of year, as restated
3,413,640
1,951,868
2,040,003
209,113
200,695
14,514
Fund balances at end of year
2 3
4
1.39 .095
260.376
169.628
33
Park and Community
Park Facility Development
Fees Development Block Grant COPS
- 365,914 194,487
7,006 1,200,000 - -
4,228 93,094 - 13,277
11,234 1,293,094 365,914 207,764
12,651
189,818 -
196,000 18,462
196,000 189,818 31,113
Landscape
Asset Maintenance
Seizure Districts
547,041
18,501 60,332
18,501 607,373
2,537 -
562,674
2,537 562,674
EXHIBIT B-2
Totals
2000
1999
547,041
553,443
3,884,132
3,189,705
1,712,737
481,248
570,064
560,103
(139,19
2,000
6,713,974
4,786,499
15,188
23,029
909,642
752,555
581,621
425,746
859,818
136,980
92,478
25,351
299,623
36,808
2,758,370 1,400,469
11,234
1,097,094
176,096
176,651
15,964
44,699 3,955,604
3,386,030
182 3899(
6,994)
(176,09
(139,19
(3,982
(5,472,150
1 945 338
(182,389)
(96,994
(176,096
(139,19
(3,982)
- (5,472,150)
(1,945,338)
(171,155) 1,000,100 - 37,457 11,982 44,699 (1,516,546) 1,440,692
171,155 1,431,012 208,597 326,213 1,100,224 11,067,034 9,687,971
34
35
CITY OF DIAMOND BAR
EXHIBIT B-3
State Gas Tax Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
Variance -
Budget Actual
Favorable
(Unfavorable)
1999
Actual
Revenues:
Intergovernmental
Investment income
$1,351,105 1,165,503
(185,602)
1,339,479
150,000 167,296
17,296
164,402
Total revenues
1,501,105 1,332,799
(168,306
1,503,881
Excess of revenues over
expenditures
1,501,105 1,332,799
J168,306
1,503,881
Other financing sources (uses):
Operating transfers out
(3,968,800 (2,611,283
1,357,517
791 541
Total other financing sources (uses) _Q,2§8 8.00) 2611,283
1,357,517
(791,541)
Excess (deficiency) of revenues
over (under) expenditures and
other financing uses
(2,467,695) (1,278,484)
1,189,211
712,340
Fund balances at beginning of year
3,413,640 3,413,640
-
2,701,300
Fund balances at end of year
$945,945 2 135,156
1,189,211
3,413,640
35
36
EXHIBIT B-4
CITY OF DIAMOND BAR.
Proposition A Transit Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
Variance -
Favorable
1999
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 668,100
698,687
30,587
637,016
Charges for services ...
427,000
436,530
9,530
393,824
Investment income
90,000
88,294
(1,70
96,676
Total revenues
1,185,100
1,223,511
38,411
1,127,516
Expenditures:
Current:
Highways and streets
932,310
909,642
22,668
752,555
Public works
-
-
-
1,945
Parks, recreation and culture
53,340
19,927
33,413
24,988
Community development
670,000
670,000
-
-
Total expenditures
1,655,650
1,599,569
56,081
779,488
Excess (deficiency) of revenues
over (under) expenditures
(470,550)
((376,058
94;492
348,028
Other financing sources (uses)
Operating transfers out
(315,000)
(141,861
173,139
(30,422_
Total other financing sources (uses)3(
15,000)
_((141,861)
173,139
(30,422
Excess (deficiency) of revenues over
(under) expenditures and other
financing uses
(785,550)
(517,919)
267,631
317,606
Fund balances at beginning of year
1,951,868
1,951,868
-
1,634,262
Fund balances at end of year1
166 318
1.433,949
267,631
1,951.868
36
CITY OF DIAMOND BAR EXHIBIT B-5
Proposition C Transit Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
Fund balances (deficit) at end of year L 3961.97 11 3
37
Variance -
Favorable 1999
(Unfavorable) Actual
26,345
Budget
Actual
Revenues:
28,055
646,827
Intergovernmental
$ 554,800
581,145
Investment income
100,000
101,710
Total revenues
_ 654,800
682,855
Excess of revenues over expenditures
654,800
682,855
Other financing sources (uses)
Operating transfers out
(3,091,000
9,121,763
Total other financing sources (uses)
000)(1,331,763
-(LQ2-1,000
Excess (deficiency) of revenues
over (under) expenditures and
other financing uses
(2,436,200)
(648,908)
Fund balances at beginning of year
2,040,003
2,040,003
Fund balances (deficit) at end of year L 3961.97 11 3
37
Variance -
Favorable 1999
(Unfavorable) Actual
26,345
532,230
1,710
114,597
28,055
646,827
28,055
646,827
L759,237
563 679
11759,237
(563,679)
1,787,292 83,148
1,956,855
1,787.292 2,040.003
15.94111:311W.
CITY OF DIAMOND BAR
. ISTEA Fund .
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
38
Variance -
Favorable 1999
(Unfavorable) Actual
(239,173
(239,173
(239,173
239,173
239,173
Budget
Actual
Revenues:
Intergovernmental
$991,500
752,327
Total revenues
991,500
752,327
Excess of revenues
over expenditures
991,500
752,327
Other financing sources (uses):
Operating transfers out
(991,500
(752,327
Total other financing sources (uses)
(991,500
(752,327
Excess of revenues over expenditures
and other financing uses
-
-
Fund balances at beginning of year
Fund balances at end of year
38
Variance -
Favorable 1999
(Unfavorable) Actual
(239,173
(239,173
(239,173
239,173
239,173
CITY OF DIAMOND BAR EXHIBIT B-7
Integrated Waste Management Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
Revenues:
Intergovernmental
Charges for services
Investment income
Total revenues
Expenditures:
Current:
Parks, recreation and culture
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Fund balances at beginning of year
Fund balances at end of year -
Budget Actual
$ 19,000 41,270
80,000 69,201
12,000 13,343
111,000 123,814
114,400
72551
114,400
72,551
(3,400)
51,263
209,113
209,113
$205,713
260,376
39
Variance -
Favorable 1999
(Unfavorable) Actual
22,270
(10,799) 87,424
---1,343 - 9,347
12,814 96,771
41,849 75,992
41,849 75,992
54,663 20,779
- 188,334
'54,663 209.113
1 WA *I 11 -0.3
CITY OF DIAMOND BAR
Air Quality Improvement Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
40
Variance -
Favorable
1999
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 45,000
64,382
19,382
61,640
Investment income
12,000
8,659
(3,341
8,011
Total revenues
57,000
73,041
16,041
69,651
Expenditures:
Current:
Public works
18,159
18,947
(788)
29
Community development
-
-
-
19,010
Capital Outlay
121,000
85,161
35,839
-
Total expenditures
139,159
104,108
35,051
19,039
Excess (deficiency) of
revenues over (under)
expenditures
(82,159)
(31,067)
51,092
50,612
Fund balances at beginning of year
200,695
200,695
-
150,083
Fund balances at end of year
118 536
169,628
51.,092
200.695
40
CITY OF DIAMOND BAR EXHIBIT B-9
Bicycle and Pedestrian Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
41
Variance -
Favorable
1999
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 75,800
20,417
(55,383)
-
Investment income
1,500
1,330
(170
1,563
Total revenues
77,300
21,747
(55,553
1,563
Excess of revenues over expenditures
77,300
21,747
(55,553
.1,563
Other financing sources (uses):
Operating transfers out
J126,632
Q36,261
90,371
Total other financing sources (uses)
J126,632
(36,261
90,371
Excess (deficiency) of revenues over
(under) expenditures and other
financing uses
(49,332)
(14,514)
34,818
Fund balances at beginning of year
14,514
14,514
-
12,951
Fund balances (deficit) at end of year
34 818
34,818
14.514
41
No.,4100-11Wo
CITY OF DIAMOND BAR
Park Fees Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
Budget Actual
Revenues:
Charges for services
$ 25,000
7,006
Investment income
5,000
4,228
Total revenues
30,000
11,234
Excess of revenues over expenditures
30,000
11,234
Other financing sources (uses):
10,956
22,611
Operating transfers out
(205,000
(182,389
Total other financing sources (uses)(205,000.
(182,389
Excess (deficiency) of
revenues over (under)
expenditures and other
financing uses
(175,000)
(171,155)
Fund balances at beginning of year
171,155,
171,155
Fund balances (deficit) at end of year
42
Variance -
Favorable
1999
(Unfavorable)
Actual
(17,994)
(772
10,956
(18,766
10,956
(18,766)
10,956
22,611
(45,232
22,611
(45,232
3,845 (34,276)
.205,431
3,845 171,155
CITY OF DIAMOND BAR I? EXHIBIT B-11
.C -.LL
Park and Facility Development Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
Variance -
Favorable 1999
Budget Actual (Unfavorable) Actual
Revenues:
Charges for services
$1,200,000
1,200,000
-
Investment income
70,000
93,094
23,094
72,571
Other revenues
-
-
2,000
Total revenues
1,270,000
1,293,094 1,293,094
23,094
'74,571
Expenditures:
Capital outlay
196,000
196L0 00
.
Total expenditures
196,000
196,000
Excess of revenues over
expenditures
1,0�74000
1097,094
23,094
74,571
Other financing sources (uses):
Operating transfers out
—1215,000
(96,994
218,006
Total other financing sources (uses)
__(315,000
(96,994
218,006
Excess of revenues over expenditures
and other financing uses
759,000
1,000,100
241,100
74,571
Fund balances at beginning of year
--1,4-3-1,012
1,431,01
-
1,356,441
Fund balances at end of year
2 190 012
2, 43
==I=,l 12241.100
1,431,012
43
W.0110-31 I.
CITY OF DIAMOND BAR
Community Development Block Grant Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
Revenues:
Intergovernmental
Total revenues
Expenditures:
Current:
Community development
Total expenditures
Excess of revenues over
expenditures
Other financing sources (uses):
Operating transfers out
Total other financing sources (uses)
Excess (deficiency) of
revenues over (under)
expenditures and other
financing uses
Fund balances at beginning of year
Fund balances at end of year
Budget Actual
$ 283,874 365,914
283,874 365,914
176,974 189,818
176,974 189,818
106,900 176,096
5106,900 (176,096
(106,900 (176,096
44
Variance -
117,970
Favorable
1999
(Unfavorable)
Actual
82,040
423,284
82,040
423,284
(12,844
117,970
(12,844)
117,970
69,196
305,314
(69,19
(305,401
69196
305 401
CITY OF DIAMOND BAR EXHIBIT B-13
COPS Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
Budget
Revenues:
2,347
Intergovernmental
$192,140
Investment income
25,000
Total revenues
- 217,140
Expenditures:
12,651
Current:
13,029
Public safety
31,165
Capital outlay
102,650
Total expenditures
- 133,815
Excess of revenues over
93,326
expenditures
- 83,325
Other financing sources (uses):
209 063
Operating transfers out
051,300
Total other financing sources (uses)
_J151 300
Excess (deficiency) of revenues
(45,801)
over (under) expenditures and
-
other financing uses
(67,975)
Fund balances at beginning of year,
270,226
as restated
208,597
Fund balances at end of year
_ 140 622
45
Variance -
Favorable 1999
Actual (Unfavorable) Actual
194,487
2,347
196,056
13,277
01,723
17,043
207,764
A9,376
213,099
12,651
18,514
13,029
18,462
84,188
36,808
31,113
102,702
49,837
176,651
93,326
163,262
(139,194)
-12,106
209 063
MLI 9-4)
12,106
(209,063)
37,457
105,432
(45,801)
208,597
-
316,027
246,054
105,432
270,226
I .t:1 0.3 18 O -B E
CITY OF DIAMOND BAR
Asset Seizure Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
Budget
Revenues:
Variance -
Favorable 1999
Actual (Unfavorable) Actual
Investment income
$ 22,000
18,501
otal revenues
Total
22,000
18,501
Expenditures:
Public safety
2,700
2,537
Total expenditures
2,700
2,537
Excess of revenues
over expenditures
19,300
15,964
Other financing sources (uses):
Operating transfers out
(10,500
(3,982
Total other financing sources (uses)
10 500
(3,982
Excess of revenues over expenditures
and other financing uses
8,800
11,982
Fund balances at beginning of year
326,213
326,213
Fund balances at end of year
J335 013
338,195
46
(3,499 16,705
(3,499 16,705
163 10,000
163 10,000
(3,336 6,705
6,518
6,518
3,182 6,705
- 319,508
3.182 326,213
CITY OF DIAMOND BAR EXHIBIT B-15
Landscape Maintenance Districts Funds
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
Revenues:
Special assessments
Investment income
Total revenues
Expenditures:
Current:
Public works
Park, recreation and culture
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Fund balances of beginning of year
Fund balances at end of year
Budget Actual
$ 548,652 547,041
30,000 60,332
578,652 607,373
589,093 562,674
.589,093 562,674
(10,441)
44,699
1,100,224
1100,224-
100,224-1,144,923
28,721
1,144,923
,47
Variance -
Favorable 1999
(Unfavorable) Actual
(1,611)
553,443
30,332
48,232
28,721
601,675
26,419
347,780
-
363
26,419
348,143
55,140 253,532
- 846,692
55,140 1 100,224
CAPITAL PROJECTS FUNDS
Capital Projects Funds are used to account 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.
Capital Improvement Fund - To account for the costs of constructing street improvements, park
improvements, and other public improvements not normally included within the other Capital
Projects funds. Financing is provided by developer fees and interfLmd transfers from the. Special
Revenue Funds and the General Fund.
Redevelopment Agency Fund - To account for general fund monies transferred to the
Redevelopment Agency for approved capital projects and administrative costs.
48
EXHIBIT C-1
CITY OF DIAMOND BAR
Capital Projects Funds
Combining Balance Sheet
June_30,.2000
Grand
Avenue Capital Redevelopment Totals
Construction Improvement Agency 2000 1999
Assets
Cash and investments
Interest receivable
Due from other funds
Total assets
Liabilities and fund balance
Liabilities:
Accounts payable
Retentions payable
Deferred revenue
Deposits
Due to other
governments
Total liabilities
Fund balances:
Reserved for:
Encumbrances
Unreserved:
Designated for:
Specific projects
and programs
Undesignated
Total fund balances
Total liabilities
and fund balances
$139,131 56,200
s
1,207,807
1,403,138
1,463,434
-
11,921
11,921
4,398
- 561,106
731,781
1,292,887
1100,679
X139 617,306
1951,509
2,707,946
2,568,511
$ - 433,499
46,960
480,459
192,379
- 249,575
-
249,575
16,826
' -
-
-
105,928
- -
1,683,041
1,683,041
1,683,041
- -
144,844
144,844
135,166
- 683,074
1,874,845
2,557,919
2,133,340
- 76,664 76,664 296,040
139,131 - - 139,131 139,131
65 768 - (65,768)-
139,131 (65,768 76,664 150,027 435,171
139,131 617,306 1,951,509 2,707.946 2,568,511
X49
CITY OF DIAMOND BAR
Capital Projects Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Year ended June 30, 2000
Grand
Avenue Capital Redevelopment
Totals
Construction Improvement Agency
2000
ice
Revenues:
Licenses, permits
and fees
$ 91,225 _
91,225
1_572
Intergovernmental
_
200,000
200,000
Proceeds from sale
-
-
6,095,931
(i
l
of property.
Investment income
-
- 10,629 54,218
64,847
35,183
Other income
- 5,000 -
5,000
-
Total revenues
- 306,854 54,218
361,072
6,132,686
Expenditures:
Current:
Highways and streets
Public
- _ _
-
_
_
434,710
2,733
works
Community development - 4,468 337,999
Capital outlay. - .5,457,083 503,299
342,467
5,960,382
260,101
806,901
Cost of property sold
- - -
-
9,462,013
Debt service:
Interest
- - 305,090
305,090
106,440
Total expenditures
- 5,461,551 1,146,388
6,607,939
11,072,898
Excess (deficiency) of
j revenues over (under)
expenditures
(1,092,170(6,246,867
- (5,154,697 --�
_t412±0,212)
Other financing sources:
Operating transfers in
- 4,825,014 -
4,825,014
1,148,611
Proceeds of advances
- - 1,136,709
1,136,709
3,815,227
Total other financing
sources
- 4,825,014 1,136,709
5,961,723
4,963,838
Excess (deficiency) of
revenues and other
financing sources over
(under) expenditures
- (329,683) 44,539
(285,144)
23,626
Fund balances at
beginning of year
139,131 263,915 32,125
435,171
411,545
Fund balances (deficit) at
end of year
$139:131 (65,168) 76
150,027
435,171
I
50
EXH
CITY OF DIAMOND BAR [BIT C-3
Grand Avenue Construction Fund
Statement of Revenues, Expenditures and Changes in Fund Balances
Budget and Actual
Year ended June 30, 2000
Variance -
Favorable et Actual Favorable 1999
(Unfavorable) Actual
Expenditures:
Current:
Highways and streets
Total expenditures
Excess of revenues over
expenditures
Other financing sources:
Operating transfers in
Total other financing sources
Excess of revenues and other
financing sources over
expenditures
Fund balances at beginning of year
Fund balances at end of year139131 139,131 - 139,131
139,131 139,131 139,131
51
CITY OF DIAMOND BAR
Capital Improvement Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2000
.52
Variance -
Favorable
1999
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 200,000
200,000
-
-
1
Licenses, permits and fees
565,000
91,225
(473,775)
1,572
Investment income_
10,629
10,629
3,022
Other income
5,000
5,000
Total revenues
765,000
306,854
_ (458,146)
4,594
I Expenditures:
Current:
Highways and streets_
_
_
434,710
Public works
2,733
Community development
28,500
4,468
24,032
406
Capital outlay
10,205,495
5,457,083
4,748,412
723,855
Total expenditures
10,233,995
5,461,551
4,772,444
1,161,704
Excess (deficiency) of
revenues over (under)
expenditures
(9,468,995)
5( ,154,697
4,314,2981(
,157,110
Other financing sources:
Operating transfers in
9,044,032
4,825,014
(4,219,018)
1,148,611
Total other financing sources
9,044,032
4,825,014
(4,219,018
1,148,611
Excess (deficiency) of
revenues and other financing
sources over (under) expenditures
(424,963)
(329,683)
95,280
(8,499)
Fund balances at beginning of year
263,915
263,915
-
272,414
Fund balances (deficit) at end of year
$ (161,048)
_ 65 768)
,
263,915
.52
CITY OF DIAMOND BAR
EMBIT C-5
Redevelopment Agency Fund
Statement of Revenues, Expenditures and Changes in Fund
Balances
Budget and Actual
-
Year ended June 30, 2000
Variance -
Revenues:
Budget Actual
Favorable 1999
TR avorable) Actual
Proceeds from sale of property
$ - -
-
6,095,931
Investment income
- _ 54,218
54,218
, __L32 161
Total revenues
- 54,218
54,218
` 611285092
Expenditures:
Current:
Community development
Capital outlay
544,420 337,999
206,421
259,695
Cost of property sold
1,485,136 503,299
-
981,837
83,046
Debt service:
-
-
9,462,013
Interest
- __3051090
(305,090
106,440
Total expenditures
2,029,556 1,146,388
883,168
9,911,194
Excess (deficiency) of
revenues over (under)
expenditures
(2,029,556) (1,092,170
937,386
(3,783,102
Other financing sources:
Proceeds of advances
1,592,306 1,136,709
(455,597
3,815,227
Total other financing sources
1,592,306 1,136,709
1455,597
3,815,227
Excess (deficiency) of revenues and
other financing sources over (under)
expenditures
(437,250) 44,539
481,789
32,125
Fund balances at beginning of year
32,125 32,125
Fund balances (deficit) at end of year
��125 _'76 664
481,789
32.125
_'S3
I I z 10: 3 ti, N041 MI 0 .3 kyj
Internal Service Funds are used to account for the internal services within the City.
The City of Diamond Bar has two Internal Service Funds:
Self -Insurance Fund — To account for payments made for the City's general liability insurance
premium.
Equipment Replacement Fund — To account for the replacement of the City's rolling equipment
stock or vehicles.
54
CITY OF DIAMOND BAR
Internal Service Funds
Combing Balance Sheet
Year ended June 30, 2000
10004118.3
55
Self-
Equipment
Totals
Insurance
Replacement
2000
1999
Assets
Current assets:
Cash and investments
$1,066,274
62,973
1,129,247
1,126,289
Accounts receivable
141,046
.
-
141,046
Prepaid expenditures
7,612
-
7,612
Total current assets
1,214,932
62,973
1,277,905
1,126,289
Property, plant and equipment:
Machinery and equipment
34,822
34,822
Less accumulated depreciation
(2,000
(2,000
Net property, plant and
equipment
32,822
32,822
Total assets
1 214 932
95,795
1,310,727
I.J26 289
Liabilities and Fund Equity
Current liabilities:
Accounts payable
17,795
17,795
25,769
Total liabilities
17,795
17,795
25,769
Fund equity:
Retained earnings
1,214932
78,000
1,292,932
1,100,520
Total retained earnings
1,214,932
78,000
1,292,932
1,100,520
Total liabilities and fund
equity
1214.932
95.795
1,310,727
1,126,289
55
56
CITY OF DIAMOND BAR.
Internal Service Funds
Combining Statement of Revenues, Expenses and Changes in
Retained Earnings
Year ended June 30, 2000
Self-
Equipment
Totals
Insurance
Replacement.
2000
1999
Operating revenues:
Insurance deposits
$ 61,790
-
61,790
-
Total operating revenues
61,790
-
61,790
-
Operating expenses:
Insurance premiums
52,491
-
52,491
284,400
Depreciation
-
2,000
2,000
-
Total operating expenses
52,491
2,000
54,491
284,400
Operating income (loss)
9,299
(2,000
7,2992(
84,40
Non-operating revenues:
Investment income
52,623
-
52,623
49,604
Total non-operating
-
revenues
52,623
-
52,623
49,604
Income (loss) before
operating transfers
61,922
(2,000)
59,922
(234,7
Operating transfers:
Operating transfers in
52,490
80,000
132,490
159,465
Total operating transfers
52,490
80,000
132,490
159,465
Net income (loss)
114,412
78,000
192,412
(75,331)
Retained earnings, July 1
1,100,520
-
1,100,520
1,175,851
Retained earnings, June 30
$1,214,932
78,000
1.292,932
1 100,520
56
CITY OF DIAMOND BAR EXHIBIT D-3
Internal Service Funds
Combining Statement of Cash Flows
Year ended June -30, 2000
Self- Equipment Totals
Insurance Replacement 2000 1999 .
Cash flows from operating activities:
Insurance deposits $ 61,790 - 61,790
Insurance payments 226918 - 226 918 (153.276
Net cash provided by (used for)
operating activities 165 128165 1128)—(153,276
Cash flows from noncapital financing
activities:
Cash transferred from other funds .:
52,490
80,000
132,490
159,465
Net cash provided by noncapital
financing activities
_ 52.490
80,000
132,490
159,465
Cash flows from investing activities:
Interest received from investments
Purchase of equipment
52,623
-
52,623
49,604
-
JLJ027
17 027
-
Net cash provided by (used for)
investing activities
52,623
17 027
35,596
49,604
Net increase (decrease) in cash
and cash equivalents
(60,015)
62,973
2,958
55,793
Cash and cash equivalents at beginning
of year
_ 1,126,289
-1,126,289
1,070,496
Cash and cash equivalents at end of year
_1 0666274
62.973
1 129,247
1.126.289
Reconciliation of net operating income
to net cash provided by (used for)
operating activities:
Operating income (loss)
Adjustments to reconcile operating
$ 9,299
(2,000)
7,299
(284,400)
income to net cash provided by
(used for) operating activities:
Depreciation
(Increase) decrease in accounts receivable
(141,046)
2,000
-
2,000
(141,046)
(Increase) decrease in prepaid insurance
(Decrease) increase in accounts payable
(7,612)
25769)
-
(7,612)
107,096
-
__(2,5,769)
24,028
Net cash provided by (used for) .
operating activities
165 128)
-165
=J 28)
=a 53 276
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 2000, there were no noncash
activities.
investing, capital or financing
57
r58
CITY OF DIAMOND BAR EXHIBIT E-1
Comparative Schedule. of General Fixed Assets by Source
June 30, 2000
General fixed assets:
Land
Buildings
Improvements other than buildings
Furniture and equipment
Construction in progress
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
59
2000 1999
$ 5,169,898
1,569,898
1,159,345
1,159,345
2,915,351
2,915,351
1,554,706
1,363,602
535.320
-
$-11,134,620 7 008.196
$ 4,118,881
3,646,438
3,767,949
162,949
3,235,202
3,186,221
12,588
12.588
$-1.1,134,620 7,008.196
EXHIBIT E-2
CITY OF DIAMOND BAR
Schedule of General Fixed Assets by Function and Activity
June 30, 2000
60
Improvements
Furniture
Other than
and
Construction
Function and Activity
Land
Buildings Buildings
Equipment
in Progress
Total
General government:
City council
$ -
- -
12,900
-
12,900
Administration
-
- -
934,871
-
934,871
City clerk -
-
- -
65,618
-
65,618
Community development
-
- -
32650
-
32,650
Finance
-
- -
66,678
-
66,678
Other
3,609,898
- -
11,000
-
3,620,898
Total general government
3,609,898
-
1,123,717
-
4,733,615
Public safety:
Sheriff
-
- -
143,703
-
143,703
Emergency preparedness
-
35,939
-
35,939
Total public safety
-
- -
179,642
. -
179,642
Public works
-
29,211
-
29,211
Culture and recreation
1,560,000
1,159,345 2,915,351
189,709
335,320
6,159,725
Library
-
-
32,427
-
32,427
Total general fixed assets
5 16
11 145 2 15 351
1 554.706
335.320
11,134.620
60
CITY OF DIAMOND BAR EXHIBIT E-3
Schedule of Changes in General Fixed Assets by Function and Activity
Year ended June 30, 2000
Function and Activity
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
Library
Total general fixed assets
Balance at
Balance at
June 30, 1999
Additions
Deletions June 30, 2000
$ 8,969
3,931
- 12,900
823,138
111,733
- 934,871
22,696
42,922
- 65,618
30,959
1,691
- 32,650
66678
-
- 66,678
20,898
3,600,000
- 3,620,898
973.338
3,760,277
- 4,733,615
128,519
15,184
- 143,703
33,233
2,706
- 35,939
161,752
17,890
- 179,642
27,981
1,230
- 29,211
5,812,698
347,027
- 6,159,725
32,427
- 32,427
008196
4,126.424
11.134.620
61
City of Diamond Bar
General Government Expenditures by Function (1)
Since Incorporation in April, 1989
(unaudited)
Fiscal
Year
General
Government*
Public
Safety
Public
Works
Culture &
Recreation
Capital
Outlay*
Debt
Service
Total
1988-89
$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
8,364,192
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
l 1995-96
2,319,801
4,110,104
2,372,404
1,127,136
1,579,421
104,930
11,613,796
1996-97
2,615,272
4,095,518
2,279,731
1,270,617
1,541,307
10,320
11,812,765
1997-98
3,145,257
4,094,401
2,402,426
1,666,198
5,189,027
28,064
16,525,373
1998-99
2,895,986
4,738,375
2,839,789
1,489,708
10,666,740
106,440
22,737,038
1999-00
4,071,192
4,654,187
2,679,598
1,805,489
6,397,292
305,090
19,912,848.
• III III
III III "�i�
. 1lil III dytC
111 111
• III 111 � iar � -L;,�1 - � -�,K.
1 111 III � • � � ...z v r ( fs
(1) Includes General, Special Revenue and Capital Project Funds.
*Note: General Government includes Community Development Expenditures
i Capital Outlay includes Cost of Property sold.
Source: City Finance Department
62
City of Diamond Bar
General Government Revenues by Source
Since Incorporation in ApHI, 1989
(unaudited)
Fiscal
Year
Taxes*
Special
Assessments
Licenses
& Permits
Inter-
Governmental
Fines &
Forfeitures
Use of Money
& Property
Other
Revenue
Total
1988-89
$21,093
$0
$112,578
$1,371,326
$1,946
$1,650
$46,625
$1,555,218
1989-90
3,497,401
409,454
841,525
5,271,606
193,852
440,520
8,313
10,662,671
1990-91
4,409,302
422,038
597,771
5,993,281
281,891
506,081
55,307
12,265,671
1991-92
4,593,790
466,369
864,260
5,067,309
97,730
578,340
27,078
11,694,876
1992-93
4,494,173
469,671
724,694
5,910,715
123,242
451,077
101,305
12,274,877
1993-94
5,060,850
499,030
965,835
5,539,046
187,430
466,209
38,372
12,756,772
1994-95
5,174,343
476,148
881,588
5,640,400
253,824
732,693'
- 56,399
13,215,395
1995-96
5,538,406
538,896
1,066,475
5.735,096
261,138
863,855
50,787
14,054,653
1996-97
5,708,*029
530,375
1,417,073
6,354,150
176,267
1,005,683
42,856
15,234,433
1997-98
5,943,775
561,772
1,247,155
9,178,049
219,075
1,166,554
1,329,957
19,646,337
1998-99
6,359,624
553,443
2,147,195
6,535,812
573,449
1,191,305
6,159,240
23,520,068
1999-00
8,006,841
547,041
1,666,726
7,713,344
556,527
1,395,7.85
59,443
19,945,707
• 111 111
111 111 tw 'r;'? �"�� `�. = .•.� =�.,F. i. -� r�k -�,.�.�� - �1 ��?� ■
M:
11
(1) Includes General, Special Revenue and Capital Project Funds.
Note: 1991-1992 "Other Revenue includes &179,679 developer fees collected in the Special Revenue Fund.
*Note: Taxes category includes Charges for Services.
"Note: Other Revenue includes proceeds from sale of property.
Source: City Finance Department
63
City of Diamond Bar
Secured Property Tax Levies and Collections
Since Incorporation in April, 1989
(unaudited)
Fiscal
Total
Total Current
Percentage of
Deliquent Tax
Year
Current Levy
Collections
Levy Collected
Receivables
1988.;89
Not Available
Not Available
Not Available
Not Available
1989-90
$908,401
$835,873
92.02%
$72,528
1990-91
1,089,679
1,013,572
93.02%
76,107
1991-92
1,232,346
1,144,019
92.83%
88,327
1992-93
1,117,482
1,025,382
91.76%
92,100
1993-94
1,180,435
818,467
69.34%
361,968
1994-95
1,804,068
1,625,911
90.12%
178,157-
1995-96
1,796,593
1,711,983
95.29%
84,610
1996-97
1,809,197
1,625,252
89.83%
183,945
1997-98
1,781,264
1,680,816
94.36%
100,448
1998-99
1,810,266
1,758,764
97.16%
51,502
1999-00
1,904,915
1,813,904
95.22%
91,011
111 111
M M NA
0M M!, !, ®
11 1110 tY'M
W -M-1-10 M Mkc,�,M
WOMM 111111115"
_M:1- MMMMR W ti
*Note: The City of Diamond Bar settled a property tax lawsuit with Los Angeles County that
resulted in additional property tax payments totalling $1,882,789. The funds were received in
three (3) payments dated February 1994, August 1994 and August 1995. These amounts are
not included in the above figures as they were associated with the initial property tax transfer
at the date of incorporation.
Source: Los Angeles County Auditor/Controller.
a
0# too 111
• lot oil 111
of Oil I
■
oil
it too I -M. M
*1988-89 and 1989-90 estimated by using the combined unincorporated areas of Pomona Unified
School and Walnut Valley Unified School District -Source: California Muncipal Statistics
Los Angeles County Auditor/Controller reported no Public Utility Valuations.
Source: Los Angeles County Auditor/Controller, Hdl Coren & Cone'
I
City of Diamond Bar
Table 4
Assessed
and Estimated Actual Values
of Taxable Property
Since Incorporation in
April, 1989
(unaudited)
Fiscal
Secured
Unsecured Public
Percentage
Year
Gross Value
Gross Value Utility
Exemptions
Total
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%
1995-96
3,659,337,876
60,689,091 825,138
35,979,540
3,684,872,565
1.12%
1996-97
3,660,223,979
64,187,086 828,963
27,479,616
3,697,760,412
0.35%
1997-98
3,645,994 575
67,863,390 884,347
37,731,129
3,677,011,183
-0.56%
1998-99
3,730,370 102
74,441,058 876,688
38,373,706
3,767,314,142
2.46%
1999-00
3,873,275,798
63,844,054 125,921-
36,494,583
3,900,751,190
3.54%
0# too 111
• lot oil 111
of Oil I
■
oil
it too I -M. M
*1988-89 and 1989-90 estimated by using the combined unincorporated areas of Pomona Unified
School and Walnut Valley Unified School District -Source: California Muncipal Statistics
Los Angeles County Auditor/Controller reported no Public Utility Valuations.
Source: Los Angeles County Auditor/Controller, Hdl Coren & Cone'
I
City of Diamond Bar
2.0000000
1.7500000
1.5000000
1.2500000
1.0000000
0.7500000
0.5000000
0.2500000
0.00000ao
Typical Property Tax Rates
(Percent of Assessed Value)
1988.89 1989-90 1990-91 1991-92 1992-93 1993-94 1994-95 .1995.98 1998-97 1997-98 1998-99 1999-00
Fiscal Year
`Note: Property tax rates based on a typical tax rate area.
Source: Los Angeles County Auditor/Controller, Hdl Coren & Cone
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
LA County
L.A County
Metropolitan
j Year
I
Levy
County
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
_i 1994-95
1.0000000
0.0019930
0.0649030
0.0000000
0.0060410
0.0000000
0.0089000
1.0818370
1995-96
1.0000000
0.0018140
0.0089866
0.0000000
0.0009630
0.0000000
0.0089000
1.0206636
1996-97
1.0000000
0.0016040
0.0850380
0.0000000
0.0019910
0.0000000
0.0089000
1.0975330
1997-98
1.0000000
0.0015840
0.1025300
0.0000000
0.0021970
0.0000000
0.0089000
1.1152110
1998-99
1.0000000
0.0014510
0.0694610
0.0000000
0.0019530
0.0000000
0.0089000
1.0817650
1999-00
1.0000000
0.0014220
0.0784890
0.0000000
0.0017650
0.0000000
0.0089000
1.0905760
2.0000000
1.7500000
1.5000000
1.2500000
1.0000000
0.7500000
0.5000000
0.2500000
0.00000ao
Typical Property Tax Rates
(Percent of Assessed Value)
1988.89 1989-90 1990-91 1991-92 1992-93 1993-94 1994-95 .1995.98 1998-97 1997-98 1998-99 1999-00
Fiscal Year
`Note: Property tax rates based on a typical tax rate area.
Source: Los Angeles County Auditor/Controller, Hdl Coren & Cone
City of Diamond Bar
Principal Taxpayers
June.30, 2000
(unaudited)
67
1998-1999
Percentage of Total
Taxpayer
Primary Use
Assessed Valuation
Net Assessed Valuation
IRPM Muller Associates LLC ...-.
Commercial
$21,661,076
0.548%
M & H Realty Partners II
Commercial
18,698,143
0.473%
Martin Brattrud Properties
Commercial
13,888,672
0.351%
Shea Homes Limited Partnership
Industrial
11,595,814
0.293%
Arden Realty Limited Partnership
Commercial
10,439,931
0.264%
Nikko Capital Corporation
Commercial
10,188,664
0.258% f
Lakeview Village Corporation
Commercial
8,632,125
0.218% •
Mark R Tournat Company Trust
Commercial
8,334,630
0.211%
Diamond Bar Hotel Fund Limited
Commercial
8,247,554
0.209% t
Inter Community Health
Commercial
7,390,000
0.187%
119,076,609.
l
3.013'% .
f
67
City of Diamond Bar
Computation of Legal Debt Margin
June 30, 2000
(unaudited)
Assessed Valuations:
Assessed Value
$
3,900,751,190
Add Back: Exempt Property
36,494,583
Total Assessed Value
$
3,937,245,773
Legal Debt Margin:
Debt limitations -15% of Total Assessed Value*
$
590,586,866
Debt Applicable to Limit
Total Bonded Debt
0
Less: Special Assessment Bonds
0
Revenue Bonds
0'
Available for Repayment of General Obligation Bonds
0
Total Debt Applicable to Limitation
0
Legal Debt Margin
$
590,586,866
The City of Diamond Bar has no bonded indebtness.
*Section 43605 of the California Government Code
Source: City Finance Department, Hdl Coren & Cone
I
68
City of Diamond Bar.
Computation of Direct and Overlapping
Debt
June 30, 2000
(unaudited)
Gross Bonded
Govemmen Debt Balance
% Applicable
IQL4
Debt @
6/30/00
Los AngelesCounty Facilities 1987 Debt Service $47,865,000
0.720
$344,62'
LA Co Flood Control (Storm Drain Bond No 4) 21,540,000
0.728
156,811
Flood Control Ref. Bonds 1993 Debt Service 9,620,000
*Metropolitan
0.728
70,034
Water District Area 1112 Debt Service 549,615,000
*Three
0.556
3,055,859
Valley MWD Orig Area 549,615,000
0.556
3,055,859
Pomona Unified SD 1998 Series C Debt Service 15,000,000
25.556 -•
3,833,400
Pomona Unified SD 2000 Refund Series A Debt Servic 21,485,000
25.556
5,490,707.:
Pomona Unified SD 1997 Refund Series A Debt Servic 49,700,600
25.556
12,701,332
Pomona Unified SD 1991 Series G Debt Service 9,620,000
25-556
2,458,487
Walnut Valley Unified SD Refund Series 1997 A DS 44,752,719
72.691.
32,531,199.
Total Gross Direct and Overlapping Bonded Debt
$ 63,698,316
1999/2000 Assessed Valuation: $ 3,471,424,756
Debt to Assessed Valuation Ratios: Direct Debt 0.00%
Overlapping Debt 1.83
Total Debt 1.83
Report reflects general obligation debt which is being repaid through voter -approved indebtness.
It excludes, mortgage revenue, tax allocation bonds, interim financing obligations, non -bonded
capital lease obligations and certificates of participation.
This fund is a portion of a larger agency, and is responsible for debt in areas outside t . he city.
Source; City Finance Department, HdI Coren & Cone
69
Type of Coverage
Liability:
General Liability, Automobile Liability,
Bodily Injury, Property Damage,
Personal Injury.
Special Liability:
Errors and ommissions, Employment
Practices injury, Contractual Liability
injury, Broadcast/Publication injury
Employee Benefits, Administration
injury, Discrimination injury.
City of Diamond Bar
Schedule of Insurance
June 30, 2000
(unaudited)
Limits/Deductibles
$50,000,000 limit each occurrence,
$50,000,000 annual aggregate.
Retained loss of $20,000 per
occurrence.
$50,000,000 limit each occurrence,
$50,000,000 annual aggregate.
Retained loss of $20,000 per
occurrence.
Insurer Policy period
Self Insured Program/ 07/1/00 -Until
California Joint Powers suspended or
Insurance Authority. terminated.
Self Insured Program/
07/1/00 -Until
California Joint Powers
suspended or
Insurance Authority.
terminated.
i
Pollution & Remediation Legal Liability:
Scheduled property, streets, storm CJPIA Limit $50,000,000 for 3 years. Self Insured Program/ 07/01/00-07/01/03
drains, approved underground tanks & $10,000,000 per member. Self insur- California Joint Powers
non -owned disposal sites. ed retention $50,000 per occurrence. Insurance Authority.
Property:
All -Risk, including buildings, contents,
garaged vehicles, contractor's equip-
ment, fine arts, rental income and other
miscellaneous extentions of coverage.
Automobile:
Automobile Physical Damage
Crime:
Public Employee Blanket
Fidelity Bond -
Faithful Performance Bond
Coverage'O'
Depositor's Forgery
Coverage 'B'
Crime- Money & Securities
Coverage -'C'
Computer Fraud
Coverage'F' .
Worker's Compensation:
Work related injury/illness claims for
temporary and permanent disability.
Special Events:
Tenants/Users for Property
damagelbodily injury
$100,000,000 per occurence,
deductible of $5,000 per occurrence.
$100,000,000 per occurence,
deductible of $1,000 per occurrence
$1,000,000 limit, deductible of
$5,000 per occurrence
$1,000,000 limit, deductible of
$5,000 per occurrence
$1,000,000 limit, deductible of
$5,000 per occurrence
$1,000,000 limit, deductible of
$5,000 per occurrence
California Statutory limit; $1,000,000
employers liability incl defending costs.
Robert F. Driver Assoc. 12/31./99-12/31100
Robert F. Driver Assoc. 12/31/00-12/31101
Robert F. Driver Assoc. 01/01/00-01/01/01
Robert F. Driver Assoc. 01/01/00-01/01/01
Robert F. Driver Assoc. 01/01/00-01/01/01
Robert F. Driver Assoc. 01/01/00-01/01/01
State Compensation 10/01/00-10/01/01
Insurance Fund
$1,000,000 per occurrence and Robert F. Driver Assoc. 04/01/00-0411/01
aggregate per event. $5,000 medical
expense limit.
Source: City Finance Department 70
City of Diamond ar
Table 14
Demographic and Miscellaneous Statistical Information
June 30, 2000
(unaudited)
Dateof Incorporation.................................................................................... April 18, 1989
Form of Government ............
:...................................:.............................. Council -Manager
Area..................................................................:................................ 14.9 Square miles
Milesof Streets.................................................................:........................................ 137
Employees(full-time)...................................................................................................
46
Employees(part-time).................................................................................:................
23
Fire Protection
-11.79%
(Los Angeles County Consolidated Fire protection District)
-0.14%
Numberof Stations.....................................................................................................
3
Numberof Officers............................................................................. .................
36
Sewers:
Sanitary Sewers ............... . 146.88
StormSewers..................................................................................................... 31.95
Recreation & Culture:
CommunityCenters..............................................................................:.:......:...:....... 1
Parks..............................................................................................................:...... 10
ParkAcreage (developed)....................................................................................... 60.9
ParkAcreage (undeveloped)................................................................................... 81.5
Education:
ElemantarySchools (K-6)........................................................................................... 7
MiddleSchools (6-8)................................................................................................. 3
JrHigh Schools (7-8).......................................................................................:........ 3
HighSchools (9-12).................................................................................................. 2
Population:'
Date
1989
1990
1991
1992
1993
1994
1995
1996
.1997
1998
1999
2000
Population
Percentage Increase
60,000
--
53,672
-11.79%
53,596
-0.14%
53,576
-0.04%
54,315
1.36%
54,507
0.35%
54,284. ..
-0.41%
56,003
3.07%
56,6591.16%
57,271 ..
1.07%
58,300
1.77%'
59,100
1.35%
Note: 1989 population numbers are an estimate.
*Source: State of California, Department of Finance
City of Diamond Bar
Residential and Commercial Construction
437
Since Incorporation in April, 1989
212
$ 4,036,302
1990-91
(unaudited)
8,868,435
83
11,361,825
1991-92
New Construction
10,799,186
Fiscal
Residential (1)
Commercial
Year
Units
Value
Units
Value
1988-89
5,781,300
95
4,839,400
1994-95
1989-90
39
$ 12,246,600
'6 $
269,372
1990-91
24
6,989,816
17
1,528,280
1991-92
26
13,596,000
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
1995-96
26
16,715,000
.0
0
1996-97
15
9,516,000
1
4,300,000
1997-98
66
32,539,000
0
0
1998-99
88
36,303,000
5
21,516,000
199900
28
18,274,000
2
1,706,000
Alterations and Additions
Fiscal
Residential (1)
'Commercial
Year
Units
Value
Units
Value
�-- - V
1989-90
437
$ 4,085,588
212
$ 4,036,302
1990-91
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
1995-96
651
7,285,100
52
2,460,200
1996-97
595
12,150,400
58
3,826,800
.1997-98
639
8,618,400
52
2,453,000
1998-99
751
19,163,240
53
10,099,900
1999-00
632
8,255,650
99
8,324,100
Bank Deposits
6/30/89
321,853,000
6/30/90
343,605,000
6/30/91
377,224,000
6/30192
381,710,000
6/30/93
371,506,000
6/30/94
379,581,000
6/30/95
423,640,000
6/30/96
480,610,000
6/30/97
472,071,000
6/30/98 532,147,000
6/30/99 533,242,000
(1) Includes multiple dwellings
Source: City's Contract Building & Safety Provider, Findley Reports
72
1.4000
1.2000
1.0000
0.8000
0.6000
0.4000
0.2000
0.0000
General Fund Ratio
Baca na WOU-50 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00
Fiscal Year
73
City of Diamond Bar
Ratio®Unreserved General Fund Balance to Annual
General Fund
Expenditures
Since Incorporation in April, 1999
(unaudited)
Unreserved Annual .
Fiscal
General Fund General Fund
Year
Balance Expenditures
Ratio
1988-89
$ 50,915 $ 798,947
0.0637
1989-90
1,375,030 9,600,559
0.1432
1990-91
2,200,322 8,031,932
0.2739
1991-92
3,019,852 8,208,271
0.3679
1992-93
3,305,067 8,232,941
0.4014
1993-94
5,677,619 9,329,431
0.6086
1994-95
7,711,454 8,241,463
0.9357-
1995-96
9,600,649 8,446,432
1.1367
1996-97
10,755,111 8,777,410
1.2253
1997-98
12,392,358 9,401,308
1.3182
1998-99
11,446,683 10,554,029
1.0846
1999-00
13,169,183 10,900,615
1.2081 .
1.4000
1.2000
1.0000
0.8000
0.6000
0.4000
0.2000
0.0000
General Fund Ratio
Baca na WOU-50 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00
Fiscal Year
73
City of Diamond Bar
Schedule of Credits
Year Ended June 30, 2000
Name
James DeStefano, Interim City Manager
David A. Doyle, Deputy City Manager
Linda G. Magnuson,Finance Director
Gina M. Tharani,Accountant 11
Conrad and Associates, C.P.A., L.L.P.
Teresa Montgomery
Communications and Marketing Coordinator
Source: City of Diamond Bar
74
Area of Contribution
General Overview
Letter of Transmittal
General Overview
Letter of Transmittal
General Overview
Letter of Transmittal
Statistical Tables
Statistical Tables
Financial Statements
Notes to Financial Statements
Cover and Divider Page Design
(This page intentionally left blank)