HomeMy WebLinkAboutCAFR - FY 2001-02C
COMPREHENSIVE
ANNUAL
.F[.----" NAN C IAL
CITY OFDIAMONDBAR, CALIFORNIA
YEAR ENDED JUNE30, 11A
CITY OF DIAMOND BAR
Diamond Bar, California
Comprehensive Annual Financial Report
Year ended June 30, 2002
Prepared by
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CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
Year ended June 30, 2002
TABLE OF CONTENTS
INTRODUCTORY SECTION:
EXHIBIT Page
Letter of Transmittal i
Officials of the City of Diamond Bar xiv
Organization Chart xv
Certificate of Award for Outstanding Financial Reporting (CSMFO) xvi
Certificate of Achievement for Excellence in Financial Reporting (GFOA) xvii
FINANCIAL SECTION:
Independent Auditors' Report
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
ISTEA Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances — Budget and Actual
EXHIBIT Page
A-1
A-2
A-3
27
28
29
B-1 31
B-2 33
B -3 35
B-4 36
B-5 37
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
* Traffic Congestion Relief Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
C)
• 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
• California Law Enforcement Equipment Program (CLEEP) 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
EXHIBIT Page
B-7 39
B-8 40
B-9 41
B-10 42
B-11 43
B-12 44
B-13 45
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
• Asset Seizure Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
• Landscape Maintenance Districts Funds:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
Capital Projects Funds:
• Combining Balance Sheet
• Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
• Grand Avenue 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
Internal Service Funds:
• Combining Balance Sheet
EXHIBIT
Page
B-15
47
B-16
48
C-1 50
C-2 51
C -n
52
C-4 53
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED
lomulav��
• Combining Statement of Revenues, Expenses and Changes
in Retained Earnings
0 Combining Statement of Cash Flows
General Fixed Assets Account Group:
• Comparative Schedule of General Fixed Assets by Source
• Schedule of General Fixed Assets by Function and Activity
0 Schedule of Changes in General Fixed Assets by Function and Activity
Hll��Tll
D-3) 57
E-1 59
E-2 60
E-31 61
Table No.
STATISTICAL SECTION:
General Govern -mental Expenditures by Function
1
62
General Governmental Revenues by Source
2
63
Secured Property Tax Levies and Collections
3
64
Assessed and Estimated Actual Values of Taxable Property
4
65
Property Tax Rates - All Direct and Overlapping Governments
5
66
Principal Taxpayers
6
67
Computation of Legal Debt Margin
7
68
Computation of Direct and Overlapping Debt
8
69
Schedule of Insurance in Force
9
70
Demographic and Miscellaneous Statistical Information
10
71
Residential and Commercial Construction
11
72
Ratio - Unreserved General Fund Balance to Annual
General Fund Expenditures
12
73
Schedule of Credits
I
74
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71171ff Itimt-
21825 E. Copley Drive - Diamond Bar, CA 91765-4178
860-2489 - Fax (909) 861-3117
www.CityofDiamondBar.com
December 4, 2002
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, 2002.
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.
Wen P. Chang
Mayor
The Comprehensive Annual Financial Report (CAFR) is presented in
three sections: introductory, financial and statistical. The introductory
Deborah H. O'Connor
section includes this transmittal letter, the City's organizational chart and
0
Mayor Pro Tem
a list of principal officials. The financial section includes general purpose
Carol Herrera
financial statements and schedules, the independent auditor's report, and
Council Member
the notes to the financial statements. The statistical section includes
selected financial and demographic information on a multi-year basis.
Robert S. Huff
Council Member
In addition to the financial audit, the City is legally required to also
Robert P. Zirbes
conduct an annual single audit in conformity with the provisions of the
Council Member
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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Recycled paper
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, 2001. The Certificate of Achievement is a prestigious national award
recognizing conformance with the highest standards for preparation of state and local
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, with
contents that 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 seven consecutive
years (fiscal years ended 1995 through 2001 ). 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 seven 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, economic development, 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, solid waste contract management and
subsidized transit ticket sales), community services (which includes senior services,
park maintenance, recreation services and landscape maintenance), community
relations, grant administration, financial management, and administrative management.
All of these activities are included in this report.
Dia
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.
ECONOMIC CONDITION AND OUTLOOK
Located at the junction of the 57 and 60 freeways, the City of Diamond Bar is at the hub
of the Los Angeles basin transportation network. A twenty-five mile radius
encompasses Pasadena, downtown Los Angeles, Long Beach, Irvine and Riverside.
Diamond Bar is a relatively young residential community of about 56,000, situated
among the meandering hills and valleys of Brea Canyon. Many desired services can be
found in Diamond Bar's shopping and business centers. Recreational opportunities
within the City include more than 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, and property tax revenues. Now, with the threat of diminishing sales tax
revenue and possible shifts in State revenue, the future is not as stable as it once was.
The City has, however, built General Fund reserves to fill in any gaps created by the
economy or the State. A careful analysis of the FY 02-03 budget will be done mid -year
to adjust anticipated revenues as well as appropriations.
MAJOR INITIATIVES
For the Year. In the FY01-02 budget, the City of Diamond Bar identified several major
programs and projects necessary to meet increased service levels and to prepare the City
for the future requirements of its residents. The following is a list of the significant
activities accomplished this fiscal year.
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. The major
component of this plan has been to build a Community/Senior Center located in
Summitridge Park. The new Center will feature a large banquet room, meeting rooms,
crafts rooms and dedicated Senior Center. 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. After many
years of planning and design, contracts were solicited this fiscal year and the grading of
the site commenced in July 2002. It is anticipated that the facility will be completed and
ready for business in December 2003.
-1v-
In addition to the Community Senior Center, the City is also exploring the possibilities
of expanding library services within the City. The design of the Community/Senior
Center included a conceptual design of a possible library at the same site. City staff is
exploring funding mechanisms for the construction and future operation of an expanded
facility.
Most Cities face the problem of records retention and management. The City of
Diamond Bar is no different. For the past few years the sheer volume of records and
space to store them has become an issue. This fiscal year, the City continued its
contract with a firm that is assisting staff in scanning documents into the City's
computerized imaging system. The main emphasis has and continues to be to scan the
historical engineering maps, drawings and building permits into the system.
The City's Capital Improvement Program for FY 01-02 included several street
rehabilitation and maintenance projects. This included the rehabilitation and street-
scaping of Brea Canyon Road between Pathfinder Road and the southerly City limit.
This improvement has greatly enhanced the southern entry into the City. The portion of
Golden Springs that is located between Torito Lane and Temple Avenue at the northern
City limit was also rehabilitated. As a part of the ongoing street maintenance program,
the City's pavement management plan divided the City's major thoroughfares into five
slurry seal areas. In addition the associated neighborhood streets have been split up in
to five areas. Slurry Seal and Neighborhood Improvement areas number three were
completed this fiscal year.
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.
The City has implemented an ongoing traffic signal program, which is designed to place
signals at several warranted locations throughout the community. Traffic signals and
improvements completed this year include the intersections of Gateway at Valley Vista,
Bridgegate at Lot 16 in the Gateway Corporate Center, Golden Springs at Lemon and
Diamond Bar Boulevard at Sunset Crossing — left turn improvements. In addition
improvements were designed for an additional four signals.
The City Council has been and continues to be extremely interested in addressing the
needs and wants of its citizens. The improvement and expansion of recreational
opportunities within the City has been of special interest. For several years, the City has
had field drainage problem at one of its premiere parks, Peterson Park. It has been
difficult to maintain the turf in optimal condition due to poor design. This problem was
-v-
corrected this year and the playing fields are much improved.
-vi-
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 will continue to participate in business trade shows in an effort to draw attention to
the City's favorable location and business friendly environment. Additionally, the City
has focused on business retention activities. This year the City faced the real possibility
of losing one of its major sales tax producers to another City. After many months of
negotiations as noted in the Notes to the Financial Statements — Note 12, the City
entered into a business retention agreement. The agreement guarantees that the business
will remain in Diamond Bar for at least the next three years.
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.
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 Citv Council had selected as one of its main goals FY02-03 the implementation of
an Economic Development Strategic Plan. In the past, it was anticipated that the
Redevelopment Agency's activities would provide much needed resources to attract
businesses and revitalize the commercial areas of the City. With the invalidation of the
Diamond Bar Economic Revitalization Project Area, new alternatives must be
researched. It is anticipated that the Economic Development Strategic Plan will be
revised to identify opportunities for an expansion of the City's economy. The creation
of an Economic Development Corporation is proposed to assist in the retention and
expansion of City business and the attraction of new high sales tax producing business.
FINANCIAL INFORMATION
Internal Control Structures
The management of the City is responsible for establishing and maintaining an internal.
control structure designed to ensure that the assets of the City are protected from loss,
theft, or misuse and to ensure that adequate accounting data is compiled to allow for the
preparation of financial statements in conformity with generally accepted accounting
principles. The internal control structure is designed to provide reasonable, but not
absolute, assurance that these objectives are met. The concept of reasonable assurance
recognizes that (1) the cost of a control should not exceed the benefits likely to be
derived; (2) the valuation of costs and benefits requires estimates and judgements by
management.
-vii-
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 theformal budget process. Expenditures may not legally exceed.
appropriations at the fund level. During the year, there were supplemental budgetary
appropriations amounting to $4,699,905.
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
leave.
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, 2002 and the amount and
percentage of increases or decreases in relation to prior year revenues.
REVENUES
AMOUNT
PERCENT
OF TOTAL
INCREASE
(DECREASE)
FROM 2000-01
PERCENT
INCREASE
(DECREASE)
Taxes
7,010,691
38.69%
431,203
6.55%
Special Assessments
546,662
3.02%
(745)
-0.14%
Licenses, Permits, and Fees
1,786,971
9.86%
(225,292)
-11.20%
Intergovernmental
6,534,225
36.06%
(597,280)
-8.38%
Fines & Forfeitures
529,921
2.92%
20,245
3.97%
Charges for Services
655,279
3.62%
5,625
0.87%'
Investment Income
964,038
5.32%
(708,346)
-42.36%
Other Revenue
92,094
0.51%
(133)
-0.14%
TOTAL
18,119,881
100.00%
(1,074,723)
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Revenues for the 2000-01 fiscal year were $19,194,604 as compared with $18,119,881
for the 2001-02 fiscal year, a decrease of $1,074,723 or 5.6 percent. The following
paragraphs discuss the major changes in each category.
There were increases in several of the tax categories. The major increases occurred in
Sales Tax and Property Tax. The increase in Sales Tax is a sign of the improving
economy, and a result of the City's aggressive economic development activities.
Property taxes increased due to higher assessment valuations as well as the reflection of
new homes on the property tax rolls. There is however a decrease in Transient
Occupancy Tax due to lower occupancy as a direct result of the September 11'' tragedy.
The Licenses, Permits and Fees category shows an 11.2 percent decrease. This is due to
a decrease in building, planning and engineering fees. Last fiscal year, these revenues
were higher than usual due to the construction of a new housing tract and a new office
building.
There was an overall decrease in Intergovernmental Revenues of $597,280 this fiscal
year. Part of this reduction is due to the FY O1 exchange of Proposition A -Transit
money with another City. The City exchanged $775,000 in transit funds for $511,500 in
unrestricted general funds which was used toward the construction of the Community
Senior Center. There was no exchange this fiscal year. There was an increase in Motor
Vehicle in Lieu revenues of $135,417 that was offset by the reduction in State ERAF
Revenue of $179,106. Prop A and C Transit Revenues were up slightly this year. There
was a reduction reflected in Gas Tax due to a timing difference that is a result of the
State's budget impasse.
There was an increase in Fines and Forfeiture Revenue this fiscal year. Vehicle Code
and General Fines increased significantly, while Parking Fines and Impound Fees
Revenue showed a slight decrease.
By far the largest decrease in revenues is due to the reduction in Investment Income.
This is due to the change in the national economy and the downturn in the stock market.
The City's average investment yield tumbled from the FY01 average yield of 6.05% to
this year's average of 3.35%.
The following schedule presents a summary of general, special revenue, and capital
project fund expenditures for the fiscal year ended June 30, 2002 and the amount and
percentage of increases and decreases in relation to prior year's expenditures.
INCREASE PERCENT
PERCENT (DECREASE) INCREASE
EXPENDITURES AMOUNT OF TOTAL FROM 2000-01 (DECREASE)
General Government
3,148,538
16.34%
(160,068)
(4.84%)
Public Safety
4,933,713
25.61%
(26,804)
(0.54%)
Highway and Streets
1,005,497
5.22%
57,575
6.0717b.-
.07% _Public
PublicWorks
1,981,587
10.29%
249,817
14.43%
Community Development
82,790
.43%
(767,996)
(90.27%)
Parks, Recreation & Culture
1,737,357
9.02%
(160,730)
(8.47%)
Capital Outlay
6,375,957
33.09%
3,244,488
103.61%
Bad Debt
0
0.00%
(3,447,929)
(100.00%)
Debt Service
0
0.00%
(78,531)
(100.00%)
TOTAL
19,265,439
100.00%
(1,090,178)
Expenditures for the 2001-01 fiscal year were $20,355,617 as compared with
$19,265,439 for the 2001-02 fiscal year, a decrease of $1,090,178, or 5.36 percent.
There were varying degrees of change in all categories. The following paragraphs
discuss the changes in each category.
There was an overall decrease in General Government, however there were both
increases and decreases in the various categories. The City Attorney's expenditures
were down significantly. Last fiscal year, the City was involved in a major lawsuit
regarding the expansion of the Lanterman Developmental Center by the State. This
lawsuit was settled in the City's favor. Expenditures in the City Clerk's category were
higher due to the records imaging project. The Finance Division's expenditures were
also higher due to increased personnel costs. Last fiscal year, the non -departmental
General Government division expenditures were higher due to the costs of relocating
and re -furnishing City Hall. Since this was a one-time expenditure, the costs are lower
this fiscal year. Communications and Marketing expenditures are lower this fiscal year
due to a staff reorganization and the purchase of capital equipment in FY00-02.
There was a slight decrease in Public Safety expenditures this fiscal year. This is mostly
due to the elimination of the services provided by a contracted Emergency Preparedness
Coordinator. This service is now being provided by the Sheriff's Department and is
being absorbed within that contract. Building and Safety activity was down this year, as
reflected in the offsetting revenues. Although there was an overall decrease in Public
Safety expenditures, there was however, an increase in the law enforcement contract
rates causing a $34,434 increase in law enforcement costs.
This fiscal year, the Streets and Highway expenditures increase due to the increased
participation in the City's transit related expenditures. There were increases particularly
in the popular transit subsidy and dial -a -cab programs that provide discounted public
transportation to the citizens of the City of Diamond Bar.
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Public Works expenditures increased in FY02 by $249,817 or 14.43%. This is partially
due to a change in how expenditures for the Integrated Waste Management Fund are
categorized. Last fiscal year expenditures of $157,913 were erroneously recorded as
Parks, Recreation and Culture when they should have been in Public Works. The
balance of the increase is due to the emphasis on street and median maintenance and
beautification of the City.
The significant decrease in Community Development expenditures is due to the fact that
last fiscal year, the City traded Proposition A -Transit funds amounting to $775,000 for
the purpose of building the Community Senior Center. This trade was reflected within
this category.
As mentioned under the discussion of the Public Works expenditures, last fiscal year
there was an error in the classification of the expenditures relating to the activities of the
Integrated Waste Management Fund. The expenditures of $157,913 had been included
in the Parks, Recreation, and Culture category erroneously. When this is taken out of
this category, the actual expenditures for Parks, Recreation, and Culture only decreased
$2,817 which is less than 1%. Although there is this slight decrease the City is
continuing to provide quality programs to the citizens of Diamond Bar including the
annual City Birthday Party, Concerts in the Park series, Halloween Haunted House, Fall
Fun Festival, and Winter Snow Fest.
As reflected in the numbers, the City's Capital Outlay was significantly higher from the
previous year. There -were several capital improvement projects included in these
expenditures. $735,990�was expended toward the development of the
Community/Senior Center which will be located�in_Summitridge Park. Major road
improvement and maintenance projects totaled $4,045,869 -and included improvements
to Brea Canyon and Golden Springs Roads. There were four traffic signals constructed
and numerous others were either completed or designed. Capital outlay also included
ADA retrofitting of sidewalks on Golden Springs Road near and around the country
club golf course.
Last fiscal year the City wrote off the bad debt associated with the City's
Redevelopment Agency. This along with the associated debt service was a one-time
occurrence and as such is not reflected this fiscal year.
Fund Balances
The General Fund ended the 2001-2002 fiscal year with a fund balance of $20,052,139.
This is an increase of $2,293,294 or approximately 12.91% increase to the balance at
June 30, 2002. Of this, $120,762 is reserved for encumbrances and $13,851 is reserved
for prepaid expenditures. In addition, there is $88,066 designated for specific projects
and programs, including $85,540 for library service enhancement. This leaves an
undesignated fund balance of $19,829,460.
Cash Management
The City invests temporarily idle funds in accordance with the Government Code and
the investment policy approved by the City Council. During FY01-02, most of the City
funds were invested in the Local Agency Investment Fund (LAIF), which is - - - -- - -
administered by the State Treasurer's Office. In addition to LAIF, the City maintains a
Money Market Mutual Fund account with Well's Fargo Bank. This account is termed a
"Sweep Account" in which excess bank balances are "swept" into the Money Market
Mutual Fund on a daily basis for overnight investment. 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 3.35%.
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, 2000. The total over -funded pension
obligation applicable to the City employees was $668,223 at June 30, 2000. The City's
contribution to the system based on actuarially determined requirements was $148,228
for FY01-02.
For the three years ended June 30, 2000, 2001 and 2002 the total contribution to PERS
was 10.95%, 11.05% and 11.05% 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, 2002, the City of Diamond Bar had no outstanding general obligation
bonds. The City's only long-term debt obligation at June 30, 2002 consists of
Compensated Absences Payable. The balance is a little higher this fiscal year due to
higher employee accrued leave balances.
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 89 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, 2002 was
$1,293,919.
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,
(!---
SC. Lowry
City Manager
OFFICIALS OF THE CITY OF DIAMOND BAR
June 30, 2002
CITY COUNCIL
Wen Chan-, Mayor
0
Deborah H. O'Connor, Mayor Pro Tern
Carol Herrera, Council Member
Robert S. Huff, Council Member
Robert Zirbes, Council Member
CITY OFFICIALS
Linda C. Lowry, 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, Public Works Director
Linda G. Magnuson, Finance Director
xiv
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xv
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, 2001
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.
0
OFTHE
ig� OHREO STATES
A"/--�
CANADA Pr sident
CORPORATION
SEAL roti
CHIC& �
Executive Director
Xvii
(This page intentionally left blank.)
,e** A P/ace to Ca// Home
Breathtaking views and rolling hills
provide beautiful surroundings for
Diamond Bar's residents and visitors.
From its executive living to its stylish
townhomes and apartments,
Diamond Bar continues to
incorporate its heritage into
modem services and amenities,
Diamond Bar is also served by award-
winning schools which include seven
elementary schools, three middle
schools, and two high schools,
I
ASSOCIATES, L.L.P.
Honorable Mayor and City Council
City of Diamond Bar
Diamond Bar, California
Independent Auditors' Report
CERTIFIED PUBLIC ACCOUNTANTS
1100 MAIN STREET, SUITE C
IRVINE, CALIFORNIA 92614
(949) 474-2020
Fax (949) 263-5520
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, 2002, 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 auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States of
America. 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,
2002, and the results of its operations and the cash flows of its proprietary fund type for the year
then ended in conformity with accounting principles generally accepted in the United States of
America.
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 August
29, 2002 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.
August 29, 2002
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, 2002
Assets and other debits
Assets:
Cash and investments (note 2)
Accounts receivable
Interest receivable
Due from other funds (note 8)
Due from other governments
Prepaid expenditures
Fixed assets (note 3)
Other debits:
Amount to be provided for
retirement of general long-term
debt
Total assets
Liabilities, equity and other credits
Liabilities:
Accounts payable
Accrued payroll
Retentions payable
Deferred revenue
Due to other funds (note 8)
Deposits
Compensated absences payable
(note 4)
Total liabilities
Equity and other credits:
Investment in general fixed assets
Retained earnings:
Unreserved
Fund balances (note 6):
Reserved
Unreserved - designated
Unreserved - undesignated
Total equity and other credits
Total liabilities, equity
and other credits
$1,163,839
159,666
601,062 -
Proprietary
Governmental Fund Types
- -
Fund Type
(1,622,587)
Special
Capital—Internal
1,622,591
General
Revenue
Projects
Service
$20,321,597
7,043,859
131,901
1,252,713
165,658
38,495
-
72,838
193,257
-
-
-
615,454
-
1,634,276
-
945,964
1,740,033
-
-
13,851
-
-
156,249
-
-
-
47,694
$22,255,781
1,766,177
8,822.387
1,529,494
$1,163,839
159,666
601,062 -
144,741
8,639
- -
-
(1,622,587)
241,487 -
-
1,622,591
- -
$22,255,781
1,634,276
615,454 -
895,062
-
- -
2,203,642
3,425,172
1,458,003 -
1,529,494
134,61379,619
1,471,413 -
88,066
6,940,183
131,901 -
19,829,460
(1,622,587)
(1,295,140) -
20,052,139
5,397,215
308,174 1,529,494
$22,255,781
8,822,387
1.766.177 1,529,494
See accompanying notes to the financial statements.
2
Account Groups
1,146,516
Totals
General enera
(Memorandum Only)
Fixed Assets Long-Term Debt
2002
2001
- -
28,750,070
28,954,897
- -
276,991
387,444
- -
193,257
374,092
- -
2,249,730
9,
- -
2 685,997
1,163,056
9,060,423
170,100
15,759
11,183,747 -
11,231,441
11,167,466
- 149,283
149,283
135,079
11,183,747 149,283
45,706,869
42,207,557
- - 1,924,567
1,146,516
- - 153,380
187,210
- - 241,487
14,142
- - 1,622,591
123,932
- - 2,249,730
9,764
- - 895,062
844,047
- 149,283 149,283
135,079
- 149.283 7,236,100
2,460,690
11,183,747 - 11,183,747
11,119,843
- - 1,529,494
1,465,993
- - 1,685,645
1,372,996
- - 7,160,150
9,060,423
- - 16,911,733
16,727,612
11,183,747 - 38,470,769
39,746,867
11,183,747 149,283 45,706,869
42,207,557
(This page intentionally left blank.)
See accompanying notes to the financial statements.
4
EXHIBIT BB
CITY OF
DIAMOND
BAR
Combined Statement of Revenues, Expenditures and Changes in
Fund Balances -
All Governmental Fund
Types
Year ended June 30, 2002
Totals
Special
Capital
(Memorandum Only)
General
Revenue
Projects
2002
2001
Revenues:
Taxes
$7,010,691
-
7,010,691
6,579,488
Special assessments
-
546,662
-
546,662
547,407
Licenses, permits and fees
1704259
-
82,712
1,786,971
2,012,263
Intergovernmental
3,281,198
3,253,027
-
6,534,225
7,131,505
Fines and forfeits
529,921
529,921
509,676
Charges for services
-
655,279
-
655,279
649,654
Investment income
656,675
304,266
3,097
964,038
1,672,384
Other revenues
86,120
5,974
-
9 2094
92,227
Total revenues
13,268,864
4,765,208
85,809
18,119,881
19,194,604
Expenditures:
Current:
General government
3,148,538
-
-
3,148,538
3,308,606
Public saTety
4:836,091
97622
-
4,933,713
4,960,517
Highway and streets
-
1,005:497
-
947922
Public works
1,307,307
674,280
-
11,005,497
' ,981,587
1,731:770
Community development
-
82,790
-
82,790
850,786
Parks, recreation and
culture
1,737,357
-
-
1,737357
1,898,087
Capital outlay
98,522
62,250
6,215,185
6,375:957
3,131,469
Bad debt
-
-
-
-
3,447,929Debt
service:
Payment of advances
78,531
Total expenditures
11,127,815
1,922,439
6,215,185
19,265,439
20,355,617
Excess (deficiency) of
revenues over (under)
expenditures
2,141,049
2,842,769
(6,129,376)
(1,145,558)
(1,161,013
Other financing sources (uses):
Operating transfers in
717,520
-
5,882,933
6,600,453
3,441,069
Operating transfers out (565,275)
(6,285,893)
(7,230)
(6,858,398)
( 3 , 690 , 556)
Total other financing
sources (uses)
152,245
(6,285,893
5,875,703(257,945)
(249,487
Excess (deficiency) of revenues
and other financing sources
over (under) expenditures and
other financing uses
2,293,294
(3,443,124)
(253,673)
(1,403,503)
(1,410,500)
Fund balances at beginning
of year
17,758,845
8,840,339
561,847
27,161,031
28,571,531
Fund balances at end of year $20,052,139
5,397.215
308,174
25.757,528
27,161,031
See accompanying notes to the financial statements.
4
CITY OF DIAMOND BAR
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances - Budget and Actual
All Governmental Fund Types
Revenues:
Taxes
Special assessments
Licenses, permits and fees
Intergovernmental
Fines and forfeits
Charges for services
Investment income
Other revenues
Total revenues
Expenditures:
Current:
General government
Public saTety
Highways and streets
Public works
Community development
Parks, recreation and culture
Capital outlay
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Year ended June 30, 2002
General
3,781,235 3,148,538 632,697
5,048,468 4,836,091 212,377
2,033,225 1,307,307 725,918
2,003,867 1,737,357 266,510
110,736 98,522 12,214
12,977,531 11,127, 815 1,849,716
(457,216) 2,141,049 2,598,265
Other financing sources (uses):
Operating transfers in 1,278,775
Operating transfers out (4,095,033)
Total other financing sources (uses) (2,816,258)
Excess (deficiency) of revenues
and other financing sources over
(under) expenditures and other
financing uses (3,273,474)
Fund balances at beginning of year 17,758,845
Fund balances (deficit) at end of year $14,485,371
717,520 (561,255)
(565,275) 3,529,758
152,245 2,968.503
2,293,294 5,566,768
17,758,845 -
20,052,139 5,566,768
See accompanying notes to the financial statements.
5
v ariance
Favorable
Budget
Actual
(Unfavorable)
$ 6,269,000
7,010,691
741,691
1,937,115
1,704,259
(232;856)
2,933,500
3,281,198
347,698
431,500
529,921
98;421
881,000
656,675
(224,325)
68,200
86,120
17,920
12.520,315
13,268,864
748,549
3,781,235 3,148,538 632,697
5,048,468 4,836,091 212,377
2,033,225 1,307,307 725,918
2,003,867 1,737,357 266,510
110,736 98,522 12,214
12,977,531 11,127, 815 1,849,716
(457,216) 2,141,049 2,598,265
Other financing sources (uses):
Operating transfers in 1,278,775
Operating transfers out (4,095,033)
Total other financing sources (uses) (2,816,258)
Excess (deficiency) of revenues
and other financing sources over
(under) expenditures and other
financing uses (3,273,474)
Fund balances at beginning of year 17,758,845
Fund balances (deficit) at end of year $14,485,371
717,520 (561,255)
(565,275) 3,529,758
152,245 2,968.503
2,293,294 5,566,768
17,758,845 -
20,052,139 5,566,768
See accompanying notes to the financial statements.
5
Special Revenue
TI TT TTT TT !'
Capital Projects
arlance
_ Favorable
Budge Actual (Unfavorable) e)
82,712 82,712
3,097 3,097
85,809 85,809
107,839
97,622
v anance
Favorable
Budge
-
Actual
(Unfavorabl
548,630
546,662
(1,968)
4,373,496
3,253,027
(1,120,469)
700,000
655,279
(44,721)
549,000
304'974
(244'974)
102,684
82,790
19,894
6,171,126
4,765,208
(1,405,918)
TI TT TTT TT !'
Capital Projects
arlance
_ Favorable
Budge Actual (Unfavorable) e)
82,712 82,712
3,097 3,097
85,809 85,809
107,839
97,622
10,217
-
-
-
1,123,410
1,005,497
117,913
-
-
-
992,401
674,280
318,121
-
-
-
102,684
82,790
19,894
-
-
-
150,198
62,250
87,948
14,865,285
6,215,185
8,650,100
2,476,532
1,922,439
554,093
14,865,285
6,215,185
8,650,100
3,694,594
2,842,76985(
1,825)
(14,865,285)
(6,129,376)
8,735,909
--
-
13,508,944
5,882,933
(7,626,011)
(10,881,885)
(6,285,893)
4,595,992
(30,000)
(7,230)
22,770
(10,881,885)
(6,285,893)
4,595,992
13,478,944
5,875,703
(7,603,241)
(7,187,291)
(3,443,124)
3,744,167
(1,386,341)
(253,673)
1;132,668
8,840,339
8,840,339
-
561,847
561,847
-
1,653,048
5,397,215
3,744,167
_ (824,494
308,174
1,132,668
6
Flud-ort
CITY OF DIAMOND BAR
Combined Statement of Revenues, Expenses, and Changes in Retained Earnings -
Internal Service Fund Type
Year ended June 30, 2002
Operating revenues:
Insurance deposits
Total operating revenues
Operating expenses:
Insurance premiums
Depreciation
Maintenance
Total operating expenses
Operating income (loss)
Non-operating revenues:
Investment income
Total non-operating revenues
Income (loss) before operating transfers
Operating transfers:
Operating transfer in
Total operating transfers
Net income
Retained earnings at beginning of year
Retained earnings at end of year
2002
2001
69,037
64,778
69,037
64,778
277,359
191,513
13,435
10,863
10,030
-
300,824
202,376
(231,787)
(137,598)
37,343 61,172
37,343 61,172
(194,444) 76,426)
257,945 249,487
257,945 249,487
63,501 173,061
1,465,993 1,292,932
$1,529,494 1,465,993
See accompanying notes to the financial statements.
7
EXHIBIT EE
Combined Statement of Cash Flows — Internal Service Fund Type
Year ended June 30, 2002
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 2002, there were no noncash investing, capital or financing
activities.
See accompanying notes to the financial statements.
2002
2001
Cash flows from operating activities:
Insurance deposits
$ 119,149,
82,874
Insurance payments
(433,608)
(183,901)
Cash paid for operating expenses
10,030
Net cash provided by (used for) operating activities
324 489
101,027
Cash flows from noncapital financing activities:
Cash transferred from other funds
257,945
249,487
Net cash provided by noncapital financing activities
257,945
249,487
Cash flows from investing activities:
Interest received from investment
37,343
61,172
Purchase of equipment
13,506
_11:3,459
Net cash provided by investing activities
23,837
17,713
Net increase (decrease) in cash and cash equivalents
(42,707)
166,173
Cash and cash equivalents at beginning of year
1,295,420
1,129,247
Cash and cash equivalents at end of year
$1,252,713
1,295,420
Reconciliation of net operating income (loss) to net
cash provided by (used for) operating activities:
Operating income (loss)
$(231,787)
(137,598)
Adjustments to reconcile operating income to net
cash provided by (used for) operating activities:
Depreciation
13,435
10,863
(Increase) decrease in accounts receivable
50,112
18,096
(Increase) decrease in prepaid insurance
_ (156,249
7,612
Net cash provided by (used for) operating activities
324.489
1,027)
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 2002, there were no noncash investing, capital or financing
activities.
See accompanying notes to the financial statements.
(This page intentionally left blank.)
❖ Centralized Business Location
Rated one of the top business locations in NX,
California, Diamond Bar provides an attractive3�ac e':.i as=ter
corporate environment that is conveniently
t `Y
located at the center of Los Angeles, Orange, r
and San Bernardino counties.
— �* ��•.ME
-� 7t► Ex�(Qn AESTQURAt1T CAflTifiA
Rlo, - - I
CITY OF DIAMOND BAR
Notes to the Financial Statements
Year ended June 30, 2002
(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 accounting principles generally
accepted in the United States of America as applicable to governments. As
required by accounting principles generally accepted in the United States of
America, 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 pians for improvements, rehabilitation and redevelopment of blighted areas
within the territorial limits of the City of Diamond Bar. However, according to the
California Supreme Court's decision on August 9, 2000, the Agency's
Redevelopment Plan was invalid. No activities were made during the year ended
June 30, 2002. Accordingly, no financial statements of the Agency were issued.
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
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 find. 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.
PROPRIETARY FUNDS
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, 1989, 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:
mi
Notes to the Financial Statements
(Continued)
(1) 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 Grou
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.
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 ser -vices" 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.
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, pen -nits, 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
C,
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 $4,699,905.
12
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
C,
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
$656,675 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
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, 2002.
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 $149,283 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 (other than pension benefits)
for its employees.
(n) Property Taxes
Under California law, property taxes are assessed and collected by the counties up
to I% 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)
(1) Summary of Significant Accounting Policies, (Continued)
(n) Property Taxes, (Continued)
The property tax calendar is as follows:
Lien Date:
Levy Date:
Due Date:
Delinquent Date:
March 1
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. l
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 useful lives of the related fixed
assets, as applicable.
Public domain ("infrastructure") general fixed assets consisting of roads, bridges,
curbs and gutters, streets and sidewalks, drainage systems and lighting systems
are not capitalized, as these assets are immovable and of value only to the
government.
Assets in the general fixed assets account group are not depreciated.
(p) Proprietary Funds Fixed Assets
Fixed assets of the City's proprietary funds (i.e., Equipment and Computer
Replacement Funds) are recorded at historical cost or estimated fair market value
at the date of contribution.
15
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:
Machinery and 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.
(2) Cash and Investments
Cash and investments held by the City at June 30, 2002 consisted of the following:
Imprest cash on hand $ 300
Deposits 216,989
State Treasurer's investment pool 28,275,112
Money market mutual fund 257,669
Total $28,750,070
IV
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
X # VA EQ 2 9�U 0L �12- Mit,
Notes to the Financial Statements
(Continued)
(2) Cash and Investments, (Continued)
Deposits held by the City as of June 30, 2002 are classified in risk categories as follows:
Category Bank Carrying
Form of Deposit 1 -2 3 Balance Amount
Demand deposits $72,747 - - 72,747 216,989
Total deposits $12,747 72,747 216,989
Investments held by the City as of June 30, 2002 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 $28,275,112
Money market mutual fund 257,669
Total investments $28,532,781
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 treasurer's 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
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(3) Fixed Assets
A summary of changes in general fixed assets follows:
Balance at
July 1, 2001
Additions
Land
$ 5,169,898
-
Buildings
1,159,345
-
Improvements other than
buildings
3,271,475
-
Vehicles and equipment
1,279,791
60,362
Furniture and fixtures
239,334
17,555
Total
$11,119,843
77,917
Balance at
Deletions June 30, 2002
5,169,898
- 1,159,345/
- 3,271,475Z
14,013 1,326,140
- 256,889
14,013 11,183,747
A summary of proprietary type fixed assets at June 30, 2002 follows:
Internal Service
Machinery and equipment $73,992
Less accumulated depreciation 26,298
Total $47,694
(4) General Long -Term Debt
Changes in general long-term debt for the year ended June 30, 2002 were as follows:
Balance at Balance at
July 1, 2001 Additions Deletions June 30, 2002
Compensated absences payable 135 079 14,204 - 149,283
19
Notes to the Financial Statements
(Continued)
(5) Obligations Under Operating Leases
The City leases building and office facilities under noncancelable operating leases. The
total costs for such leases were $320,894 for the year ended June 30, 2002. The future
minimurn lease payments for the lease of building and office facilities are as follows:
Year endinc, June 30
2003
$ 254,617
2004
254,617
2005
252,167
2006
239,917
2007-2011
1,119,613
Total $2.120931
(6) 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, 2002 consisted of the following reserves and designations:
M
Special
Capital
Total
General Fund
Revenue
Projects
(Memorandum Only)
Reserved for:
Prepaid expenditures
$ 13,851
-
-
13,851
Encumbrances
120,762
79,619
1,471,413
1,671,794
134,613
79,619
1,471,413
1,685,645
Unreserved:
Designated for:
Specific projects and programs
88,066
6,940,183
131,901
7,160,150
Undesignated
19,829,460
(1,622,587)
(1,295,140)
16,911,733
19,917,526
5,317,596
(1,163,239)
24,071,883
Total fund balances
$ZQ,5 �21 3 9
St397a�1
308,174
25,757.528
M
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(7) 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.
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
N-1-ar ended June 30, 2002, the amount contributed by the City on behalf of the employees
was $148,228. The City is required to contribute at an actuarially determined rate
calculated as a percentage of covered payroll. The employer contribution rate for the year
ended June 30, 2002 was 4.047% 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, 2002, the City's annual pension cost (employer contribution)
of $85,696 for miscellaneous employees was equal to the City's required and actual
contributions. The required contribution was determined as part of the June 30, 2000,
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, 2001 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.
21
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(7) City Employees Retirement Plan, (Continued)
Miscellaneous Employees
Three -Year Trend Information
Annual Pension Cost
Percentage of
Net Pension
Fiscal Year (Employer Contribution)
APC Contributed
Obligation
6/30/00 77,221
100%
0
6/30/01 75,170
100%
0
6/30/02 85,696
100%
0
Required Supplementary Information
Entry Age
Normal Actuarial
Unfunded
Annual UAAL as
Actuarial Accrued Value
Liability/ Funded
Covered a % of
Valuation Date Liabili of Assets
(Excess Assets) Status
Payroll Payroll
6/30/98 $1,661,909 $2,207,450
$(545,541) 132.8%
$1,392,605 (39.174%)
6/30/99 2,161,899 2,771,219
(609,320) 128.2%
1,581,092 (38.538%)
6/30/00 2,587,205 3,255,428
(668,223) 125.8%
1,867,943 (35.773%)
(8) Due From and To Other Funds
Current interfund receivables and payables balances at June 30, 2002 are as follows:
Due
Due
from
to
Other Funds Other Funds
General fund
$ 615,454
-
Special revenue funds:
Community development block grant
ISTEA
Capital projects funds:
Capital improvement
Total
22
322,276
- 1,312,000
1,634,276 615,454
$2,249,730 2,249,730
Notes to the Financial Statements
(Continued)
(9) Claims and Judgments
The City is a member of the California Joint Powers Insurance Authority (Authority).
The Authority is composed of 89 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 claims
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.
(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 member's 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
$50,000,000 per occurrence and $50,000,000 annual aggregate.
Workers' Compensation
The City participates in the workers' compensation pool administered by the
Authority. Pool deposits and retrospective adjustments are valued in a manner
similar to the General Liability pool. The City is charged for the first $50,000 of
each claim. Costs are pooled above that level to $50,000. Costs from $50,001 to
$100,000 per claim are pooled based on the member's losses under its retention
level. Costs between $100,001 and $500,000 per claim are pooled based on
payroll. Costs in excess of $500,000 are paid by excess insurance purchased by
the Authority. The excess insurance provides coverage to statutory limits.
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.
23
Notes to the Financial Statements
(Continued)
(9) Claims and Judgments, (Continued)
(a) City's Participation in Self -Insurance Programs of the Authority, (Continued)
Fidelity Bonds
The City purchases blanket fidelity bond coverage in the amount of $1,000,000
with a $2,500 deductible. The fidelity coverage is provided through the
Authority. Premiums are paid annually and are not subject to retroactive
adjustments.
(b) 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.
(10) Individual Fund Disclosures
(A) Expenditures exceeded appropriations in individual funds for the year ended June
30, 2002 as follows:
Excess
Budget Actual Expenditures
Special Revenue Funds:
Asset Seizure Fund S13,551 13,867 6
(B) Deficit fund balances at June 30, 2002 were as follows:
Fund Balance Deficit
Special Revenue Funds:
Community Development Block Grant Fund $ 310,587
ISTEA Fund . 1,312,000
Total
$1,622,587
The deficit in the Community Development Block Grant Fund will be funded by future
year allocations from Los Angeles County and that in the ISTEA Fund will be
reimbursed through California Department of Transportation.
24
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued) .
(11) 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.
(12) Commitments
SIGMA -Internet, Inc. (SIGMAnet)
In May 2002, the city entered into an agreement with SIGMAnet. Under this agreement,
for a period of three years commencing with the 1" quarter of calendar year 2002 and
ending with the 4th quarter of year 2004, the City shall pay to SIGMAnet, each half-year
period that the City receives tax receipts from sales generated by SIGMAnet in excess of
$100,000, an amount each half-year period equal to 45% for the two half-year periods
during 2002 and 50% for the four half-year periods in 2003 and 2004, of all sales tax
receipts generated by SIGMAnet and remitted to the City by the State Board of
Equalization.
(13) Subsequent Event
The City has entered into a contract with L.T. Excavating, Inc. to furnish all necessary
labor, tools, materials, appliances, and equipment for and do the work for the
Community/Senior Center Grading Improvement Project at Summitridge Park in the
amount of $1,199,700. The Center will be funded in various sources including the
Community Development Block Grant (CDBG) and CDBG Section 108 loan. The total
budgeted cost of the Center will be about $12.5 million.
25
(This page intentionally left blank.)
..-_. � .ate . '..-•. f` ....
•,*• Fun &Friendly Community
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.
26
CITY OF DIAMOND BAR
General Fund
Comparative Balance Sheets
June 30, 2002
Assets
Cash and investments
Accounts receivable
Interest receivable
Due from other funds
Due from other governments
Prepaid expenditures
Total assets
Liabilities and fund equity
Liabilities:
Accounts payable
Accrued payroll
Retentions payable
Deposits
Total liabilities
Fund equity:
Reserved for:
Prepaid Expenditures
Encumbrances
Unreserved:
Designated for:
Specific projects and programs
Undesignated
Total fund equity
Total liabilities and fund equity
27
2002
$20,321,597
165,658
193,257
615,454
945,964
13,851
$22,255,781
$ 1,163,839
144,741
895,062
2,203,642
13,851
120,762
88,066
19,829,460
20,052,139
$22,255,781
EXHIBIT A-1
2001
18,122,750
216,319
74,092
9,764
897,586
2.250
19,62�2761
8-310,888
182,961
6,020
844,047
1,863,916
2,250
420,722
114,597
17,221,276
17,758,845
19,622,761
CITY OF DIAMOND BAR
General Fund
Schedule of Revenues - Budget and Actual
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
Year ended June 30, 2002
28
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
$ 180,000
310,455
130,455
229,193
2,700,000
2,947,710
247,710
2,918,415
650,000
908,633
258,633
664,273
480,000
503,457
23,457
553,022
2,259,000
2,340,436
81,436
2,214,585
6,269,000
7,010,691
741,691
6,579,488
1,937,115
1,704,2592(
32,856
2,012,263
2,900,000
3,238,110
338,110
3,102,693
30,000
32,890
2,890
32,469
1,200
1,496
296
1,221
2,300
8,702
6,402
179,106
2,933,500
3,281,198
347,698
3,315,489
431,500
529,921
98,421
509,676
881,000
656,675
224,325
1,072,675
52,200
51,978
(222)
63,684
3,000
1,840
(1,160)
1,290
13,000
32,302
19,302
12,253
68,200
86,120
17,920
77,227
$12.520,315
13,268,864
748,549
13,566,818
28
EXHIBIT A-3
CITY OF DIAMOND BAR
General Fund
Schedule of Expenditure - Budget and Actual
Year ended June 30, 2002
29
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
General government:
City Council
190,400
184,103
6,297
180,619
City Manager
587,000
552,356
334,644
548,614
City Clerk
374,511
272,555
101,956
215,518
Finance
338,400
312,319
26,081
293,359
City Attorney
243,393
102'856
140,537
407,458
Planning
656,913
572,149
84,764
434,204
Community development
730
610
120
25,715
General government
947,333
806,038
141,295
736,022
Communication and marketing
442,555
345,552
97,003
467,097
Total general government
3,781,235
3,148,538
632,697
3,308,606
Public safety:
Law enforcement
4,333,658
4,178,965
154,693
4,151,365
Fire
7,360
7,359
1
7,359
Building and safety
628,900
573,677
55,223
671,628
Animal control
72,250
71,485
765
70,244
Emergency preparation
6,300
4,605
1,695
21,460
Total public safety
5,048,468
4,8' ) 6,091
212,377
4,921,756
Public works
2,033,225
1,307,307
725,918
1,288,795
Parks, recreation, and culture
2,003,867
1,737,357
266,510
1,710,226
Capital outlay
110,736
98,522
12,214
468,673
Bad debt
-
-
-
3,447,929
Total expenditures
$12,977.5321
11,127,815
1.849,716
15,145 ,985
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 fourteen 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.
Proposition A Transit Fund - To account for the receipt and expenditure of the City's share of the
V2 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.
ISTEA Fund - The Intermodal Surface Transportation Enhancement Act (ISTEA) Fund accounts
for transport related receipts and expenditures.
Traffic Congestion Relief Fund - To account for revenues and expenditures for the City's street
or road maintenance or reconstruction pursuant to AB2928.
Integrated Waste Management Fund - To account for revenues and expenditures related to the
City's waste reduction efforts as related to AB939.
Air Quali-,%, 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.
California Law Enforcement Equipment Program Fund (CLEEP) - To account for revenues
received from the California CLEEP fund and expenditures made for the purchase of high-
technology equipment.
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 District Fund - 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, 2002
State Prop. A
Gas Tax Transit
Assets
Traffic Integrated Air
Prop. C Congestion Waste Quality
Transit ISTEA Relief Mana_ement Improvement
Cash and investments
$203,412
1,116,471
1,197,297
-
142,599
429,395
243,964
Accounts receivable
-
-
-
-
-
38,495
-
Due from other governments
-
67,555
-
1,312,000
-
-
15,900
Prepaid expenditure
-
-
-
-
-
-
-
Total assets
$203,412
1,184,026
1,197,297
1,312,000
142,599
467,890
259,864
Liabilities and fund balances
Liabilities:
Accounts payable
$ -
86,684
-
-
-
20,569
304
Accrued payroll
-
2,027
-
-
-
1,152
-
Deferred revenue
-
-
-
1,312,000
-
-
-
Due to other funds
-
-
-
1,312,000
-
-
-
Totalliabilities
-
88,711
-
2,624,000
-
21,721
304
Fund balances:
Reserved for:
Prepaid expenditures
-
-
-
-
-
-
-
Encumbrances
-
-
-
-
-
-
53,080
Unreserved:
Designated for:
_
Specific projects
and programs
203,412
1,095,315
1,197,297
-
142,599
446,169
206,480
Undesignated
-
-
-
(1,312,000)
-
-
-
Total fund balances (deficit)
203,412
1,095,315
1,197,297
(1,312,000)
142,599
446,169
259,560
Total liabilities and
fund balances $203,412 1,184,026 1,197,297 1,312,000 142,599 467,890 259,864
31
EXHIBIT B-1
Bicycle Park and
Community
160,609
Landscape
2,805 8,639
4,249
and Facility
Development
Asset
Maintenance
Totals
9,764
Pedestrian CLEEP Development
Block Grant COPS
Seizure
District
2002
2001
- 118,162 1,792,532
689 285,809
350,385
1,163,144
7,043,859
8,815,131
- - -
- -
-
-
38,495
44,783
- - -
332,773 -
-
11,805
1,740,033
265,470
- - -
- -
-
-
-
13,509
- 118,162 1,792,532
333,462 285,809
350,385
1,174,949
8,822,387
9,138,893
- - - 8,527 2,526 -
41,056 159,666
160,609
- - - 2,655 - -
2,805 8,639
4,249
- - - 310,591 - -
- 1,622,591
123,932
- - - 322,276 - -
- 1,634,276
9,764
- - - 644,049 2,526 -
43,861 3,425,172
298,554
- - - - - - 13,509
25,159 - 1,380 79,619 23,635
118,162 1,792,532 - 258,124 350,385 1,129,708 6,940,183 8,806,695
- - (310,587) - - - (1,622,587) (3,500)
118,162 1,792,532 (310,587) 283,283 350,385 1,131,088 5,397,215 8,840,339
118,162 1,792,532 333,462 285,809 350,385 1,174,949 8,822,387 9,138,893
32
33
CITY OF DIAMOND BAR
Special Revenue Funds
Combining Statement
of Revenues,
Expenditures and Changes in Fund Balances
Year ended June 30, 2002
Traffic
Integrated
Air
State
Prop. A
Prop. C
Congestion
Waste
Quality
Gas Tax
Transit
Transit ISTEA
Relief
Management Improvement
Revenues:
Special assessments
$ -
-
- -
-
-
-
Intergovernmental
957,351
666,322
677,193 -
130,934
33,146
63,608
Charges for services
-
466,664
- -
-
188,615
-
Investment income
21,943
37,711
63,332 -
11,668
13,097
7,372
Other revenues
-
5,974
- -
-
-
-
Total revenues
979,294
1,176,671
740,525 -
142,602
234,858
70,980
Expenditures:
Current:
Public safety
-
-
- -
-
-
-
Highways and streets
-
1,005,497
- -
-
-
-
Public works
-
-
- -
-
182,900
31,380
Community development
-
-
- -
-
-
-
Parks, recreation and
culture
-
-
- -
-
-
-
Capital outlay
-
-
- -
-
-
-
Total expenditures
-
1,005,497
- -
-
182,900
31,380
Excess (deficiency) of
revenues over (under)
expenditures
979,294
171,174
740,525 -
142,602
51,958
39,600
Other financing sources (uses):
Operating transfers out
(1,321,849)
(50,000)
(1,583,190) (1,312,000)
(438,985)
-
-
Total other financing
sources (uses)
(1,321,849)
(50,000)
(1,583,190) (1,312,000)
(438,985)
-
-
Excess deficiency of
revenues and other
financing sources over
(under) expenditures
and other financing
uses
(342,555)
121,174
(842,665) (1,312,000)
(296,383)
51,958
39,600
Fund balances (deficit) at
beginning of year
545,967
974,141
2,039,962 -
438,982
394,211
219,960
Fund balances (deficit) at
end of year
$ 203,412
1,095,315
1,197,297 (1,312,000)
142,599
446,169
259,560
33
EXHIBIT B-2
Bicycle
Park and
Community
Landscape
and
Facility
Development
Asset Maintenance Totals
Pedestrian
CLEEP Development
Block Grant COPS
Seizure District 2002 2001
113,454 168,182
271 4,790
113,725 172,972
271,892 170,945 -
78,999 - 11,152 11,860
78,999 271,892 182,097 11,860
60,215 - 37,407 -
- 82,790 - -
- - - - 12,830 13,867
60,215 - 82,790 50,237 13,867
546,662 546,662
547,407
- 3,253,027
3,304,516
- 655,279
649,654
42,071 304,266
597,842
- 5,974
15,000
588,733 4,765,208 5,114,419
- 97,622
38,761
- 1,005,497
947,922
460,000 674,280
442,975
- 82,790
850,740
- - 187,861
35,553 62,250 62,088
495,553 1,922,439 2,530,347
113,725 112,757
78,999
189,102
131,860 (2,007)
93,180
2,842,769
2,584,072
(113,725) -
(623,209)
(496,189)
(97,728) -
(249,018)
(6,285,893)
(3,294,221)
.13,725) -
(623,209)
(496,189)
(97,728) -
(249,018)
(6,285,893)
(3,294,221)
- 112,757
(544,210)
(307,087)
34,132
(2,007)
(155,838)
(3,443,124)
(710,149)
- 5,405
2,336,742
(3,500)
249,151
352,392
1,286,926
8,840,339
9,550,488
- 118,162
1,792,532
(310,587)
283,283
350,385
1,131,088
5,397,215
8,840,339
34
CITY OF DIAMOND BAR
State Gas Tax Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
35
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$1,078,500
957,351
(121,149)
1,063,844
Investment income
80,000
21,943
58,057
98,162
Total revenues
1,158,500
979;294
_ 179,206)
1,162,006
Excess of revenues over
expenditures
1,158,500
979,2941(
79,206
1,162,006
Other financing sources (uses):
Operating transfers out
(2,435,038)
(1,321,849)
1,113,189
2,751,195
Total other financing sources (uses)
(2,435,038)
(1,321,849)
1,113,189
(2,751,195)
Excess (deficiency) of revenues
over (under) expenditures and
other financing uses
(1,276,538)
(342,555)
933,983
(1,589,189)
Fund balances at beginning of year
545,967
545,967
-
2,135,156
Fund balances (deficit) at end of year730,5n
203,412
933,983
545,967
35
CITY OF DIAMOND BAR
Proposition A Transit Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
36
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 750,420
666,322
(84,098)
758,010
Charges for services
500,000
466,664
(33,336)
443,540
Investment income
100,000
37,711
(62,289)
91,512
Other revenues
-
5,974
5,974_
-
Total revenues
1,350,420
1,176,6711(
73,74
1,293,062
Expenditures:
Current:
Highways and streets
1,123,410
1,005,497
117,913
947,922
Parks, recreation and culture
-.
-
-
29,948
Community development
-
-
-
775,000
Total expenditures
1,123,410
1,005,497
117,913
1,752,870
Excess (deficiency) of revenues
over (under) expenditures
227,010
171.174
55,8364(
59,808)
Other financing sources (uses)
Operating transfers out
275,680
_5( 0.000)
225,680
-
Total other financing sources (uses)
_ 275,680
50,000
225,680
-
Excess (deficiency) of revenues over
(under) expenditures and other
financing uses
(48,670)
121,174
169,844
(459,808)
Fund balances at beginning of year
974,141
974,141
-
1,433,949
Fund balances at end of yearX925,471
1,095,315
169,844
974,141
36
CITY OF DIAMOND BAR
Proposition C Transit Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
37
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 622,350
677,193
54,843
629,513
Investment income
100,000
63,3323(
6,668)
101,495
Total revenues
722,350
740,525
18,175
731,008
Excess of revenues over expenditures
722,350
740,525
18,175
731,008
Other financing sources (uses)
Operating transfers out
(2,397,151)
(1,583,190)
813,9618(
2,141
Total other financing sources (uses)
(2,397,151
(1,583,190
813,961
(82,141
Excess (deficiency) of revenues
over (under) expenditures and
other financing uses
(1,674,801)
(842,665)
832,136
648,867
Fund balances at beginning of year
2,039,962
2,039,962
-
1,391,095
Fund balances (deficit) at end of year
365 161
1,197,297
832,136
2,039,962
37
I : C 0
CITY OF DIAMOND BAR
ISTEA Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
38
Variance -
Favorable 2001
Budget .
Actual (Unfavorable) Actual
Revenues:
Intergovernmental
$ -
- - -
Investment income
-
- - -
Total revenues
-
- - -
Excess of revenues over
expenditures
-
- - -
Other financing sources (uses):
Operating transfers outX1,312,000)(1,312,000
- -
Total other financing sources (uses)
(1,312,000)
(1,312,000) - -
Excess (deficiency) of revenues over
(under) expenditures and other
financing uses
(1,312,000)
(1,312,000) - -
Fund balances at beginning of year
-
- - -
Fund balances (deficit) at end of year
$(1,312,000)
fl_aI24 00 - -
38
CITY OF DIAMOND BAR
Traffic Congestion Relief Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
Variance -
Favorable 2001
Budget Actual (Unfavorable) Actual
Revenues:
Intergovernmental
$180,000
130,934
Investment income
18,000
11,668
Total revenues
198,000
142,602
Excess of revenues
over expenditures
198,000
142,602
Other financing sources (uses):
Operating transfers out62(
0,000)
43( 8,985)
Total other financing sources (uses)
620,00043(
8,985)
Excess (deficiency) of revenues
over (under) expenditures
and other financing uses
(422,000)
(296,383)
Fund balances at beginning of year
438,982
438,982
Fund balances at end of year
jjk982
142,599
was
(49,066)
421,260
(6,332)
17,722
(55,398
438,982
(55,398 ) 438,982
181,015 -
181,015 -
125,617 438,982
125,617 438,982
CITY OF DIAMOND BAR
Integrated Waste Management Fund
Statement of Revenues, Expenditures and. Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
Variance -
Favorable 2001
Budget Actual (Unfavorable) Actual
Revenues:
Intergovernmental
$ 37,000
33,146
(3,854)
52,277
Charges for services
200,000
188,615
(11,385)
206,114
Investment income
16,000
13,097
(2,903)
18,357
Other revenues
-
-
-
15,000
Total revenues
253,000
234,858
18,142
291,748
Expenditures:
Current:
Public works
369,350
182,900
186,450
-
Parks, recreation and culture
-
-
-
157,913
Total expenditures
369,350
182,900
186,450
157,913
Excess (deficiency) of
revenues over (under)
expenditures
(116,350)
51,958
168,308
133,835
Fund balances at beginning of year
394,211
394,211
-
260,376
Fund balances at end of year
$277,861
446,169
168,308
394,211
40
CITY OF DIAMOND BAR
Air Quality Improvement Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
41
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 60,000
63,608
3,608
65,661
Investment income
12,000
7,372
(4,628)
10,274
Total revenues
72,000
70,980
(1,020
75,935
Expenditures:
Current:
Public works
112,020
31,380
80,640
21,722
Capital Outlay
-
-
3,881
Total expenditures
112,020
31,380
80.640
_25,603
Excess (deficiency) of
revenues over (under)
expenditures
(40,020)
39,600
79,620
50,3332
Fund balances at beginning of year
219,960
219,960
-
169,628
Fund balances at end of year
117E940
259.560
:79,620
219,960
41
CITY OF DIAMOND BAR
Bicycle and Pedestrian Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
42
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$141,082
113,454
(27,628)
44,689
Investment income
-
271
271
290
Total revenues
141,082
113,725(_7,357)
44,979
Excess of revenues over expenditures
141,082
113,725(_7,357)
44,979
Other financing sources (uses):
Operating transfers out
113,4454
113,725
(271)
44,979
Total other financing sources (uses)113,454
113,725
271
44,979
Excess of revenues over
expenditures and other
financing uses
27,628
-
(27,628)
-
Fund balances at beginning of year
-
-
-
-
Fund balances at end of year
UD628
42
EXHIBIT B-11
CITY OF DIAMOND BAR
CLEEP Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year. ended June 30, 2002
43
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ -
168,182
168,182
-
Investment income
10.000
4,790
(5,210
5,405
Total revenues
10,000
172,972
.162,972
5,405
Expenditures:
Current:
Public safety
60,215
60,215
- --
-
Total expenditures
60,215
60,215
- -
-
Excess (deficiency) of revenues
over (under) expenditures
(50,215)
112,757
162,972
5,405
Fund balances at beginning of year
5,405
5,405
-
-
Fund balances (deficit) at end of year
R44M
118,162
�162972
5,.405
43
EXHIBIT B-12
CITY OF DIAMOND BAR
Park and Facility Development Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
44
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
Revenues:
Investment income
$ 125,000
78,999
46,001
141,490
Total revenues
125,000
78,999
46,001
141,490
Expenditures:
Capital outlay
Total expenditures
-
-
-
-
Excess of revenues over
expenditures
125,000
78,999_(4§,001)
141,490
Other financing sources (uses):
Operating transfers out
(1,454,627)
623,209
831,418
235,860
Total other financing sources (uses)
1,454,627
623,209)
831,418
235,860
Excess (deficiency) of revenues over
(under) expenditures and other
financing uses
(1,329,627)
(544,210)
785,417
(94,370)
Fund balances at beginning of year
2,336,742
2,336,742
-
2,431,112
Fund balances at end of year
$1,007,115
1,792,532
785,417
2,336,742
44
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, 2002
45
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$1,318,894
271,892
(1,047,002)
84,893
Total revenues
1,318,894
271,892
(1,047,002)
84,893
Expenditures:
Current:
Community development
102,684
82,790
19,894
75,740
Total expenditures
102,684
82,790
19,894
75,740
Excess of revenues over
expenditures
1,216,210
189,102
(1,027,108)
9,153
Other financing sources (uses):
Operating transfers out
(1,716,210)
496,189
1,220,0211(
2,653)
Total other financing sources (uses)
(1,716 210)
49( 6,189)
1,220,0211(
2,653)
Excess (deficiency) of
revenues over (under)
expenditures and other
financing uses
(500,000)
(307,087)
192,913
(3,500)
Fund balances (deficit) at
beginning of year
(3,500)
_ 3,500
-
-
Fund balances (deficit) at end of year
J. 503 500
310,587)
192,913X3,500)
45
1 com
CITY OF DIAMOND BAR
COPS Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
Revenues:
Intergovernmental
Investment income
Total revenues
Expenditures:
Current:
Public safety
Capital outlay
Total expenditures
F,;cess of revenues over
c .-�'-penditures
Oth-1-r financing sources (uses):
Opl-mting0 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
(76,246) 334,132
249,151 249,151
$112,905 283,283
46
110,378 3,097
- 246,054
110,378 249,151
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
$185,250
170,945
(14,305)
184,369
15,000
11,152
(3,848
20,174
200,250
182,097(18,153)
204,543
47,624
37,407
10,217
38,761
53,047
12,830
40,217
1,798
100,671
50,237
50,434
40,559
99,579
131,860
32,281
163,984
(175,825)
97,728
78,097
(160,887
(175,825)
97,728
78,097(160,887
(76,246) 334,132
249,151 249,151
$112,905 283,283
46
110,378 3,097
- 246,054
110,378 249,151
EXHIBIT B-15
CITY OF DIAMOND BAR
Asset Seizure Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
47
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
Revenues:
Investment income
$ 20,000
11,8608(
140)
20,697
Total revenues
20,000
11,860
(8,140
20,697
Expenditures:
Capital outlay
13,551
13,867
316
-
Total expenditures
13,551
13,867
316
-
Excess (deficiency) of revenues
over (under) expenditures
6,449
(2,007)8(
456)
20,697
Other financing sources (uses):
Operating transfers out
-
-
-(6,500)
Total other financing sources (uses)
-
-
-
_6( 500)
Excess (deficiency) of revenues
over (under) expenditures
and other financing uses
6,449
(2,007)
(8,456)
14,197
Fund balances at beginning of year
352,392
352,392
-
338,195
Fund balances at end of year
1351841
350,3858�)
352,392
47
EXHIBIT B-16
CITY OF DIAMOND BAR
Landscape Maintenance District Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
Revenues:
Special assessments
Investment income
Total revenues
Expenditures:
Current:
Public works
Capital outlay
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
48
Variance -
Favorable
2001
Budget
Actual
(Unfavorable)
Actual
$ 548,630
546,662
(1,968)
547,407
53,000
42,071
10,929
72,264
601,630
588,73-3(12,897)
619,671
511,031
460,000
51,031
421,253
83,600
35,553
48,047
.56,409
594,631
495,553
99,078
477,662
6,999
93,180
86,181
142,009
(381,900)
24( 9,018)
132,882
(381,900)
24( 9,018)
132,882
(6)
(374,901)
(155,838)
219,063
142,003
1,286,926
1,286,926
-
1,144,923
$--212.025
1,131,088
219,063
1.286 926
48
(This page intentionally left blank.)
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 two 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 interfund transfers from the Special
Revenue Funds and the General Fund.
49
EXHIBIT C-1
CITY OF DIAMOND BAR
Capital Projects Funds
Combining Balance Sheet
June 30, 2002
Grand
50
Avenue
Capital
Totals
Construction
Improvement
2002
2001
Assets
Cash and investments
$131,901
131,901
721,596
Accounts receivable
-
3,392
Due from other funds
--
115634,276
12634,276
-
Total assets
$131,901
1,6�34276
1,766.177
�724 988
Liabilities and fund balances
Liabilities:
Accounts payable
$ -
601,062
601,062
155,019
Retentions payable
-
241,487
241,487
8,122
Due to other funds
-
615,454
615,454
-
Total liabilities
-
1,458,003
1,458,003
163,141
Fund balances:
Reserved for:
Encumbrances
-
1,471,413
1,471,413
912,880
Unreserved:
Designated for:
Specific projects
and programs
131,901
-
131,901
09,131
Undesignated
(1,2 5,140)
(1,295,140
.(490,164)
Total fund balances
131,901
176,273
308,174
561,847
Total liabilities
and fund balances
$131,901
1,634,276
1,766,177
724,988
50
CITY OF DIAMOND BAR
Capital Projects Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Year ended June 30, 2002
Revenues:
Licenses, permits
and fees
Intergovernmental
Investment income
Total revenues
Expenditures:
Current:
Community development
Capital outlay
Debt service:
Payment of advances
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Total other financing
Sources (uses)
Excess (deficiency) of
revenues and other
financing sources over
(under) expenditures
Fund balances at
beginning of year
Fund balances at
end of year
EXHIBIT C-2
Grand
Avenue
Capital
Totals
Construction
Improvement
2002
2001
82,712
82,712
-
-
-
511,500
—3,097
3,097
1,867
85,809
85,809
513,367
-
-
46
6,215,185
6,215,185
2,600;708
-
-
78,531
6,215,185
6,215,185
2,679,285
(6,129,376)
(6,129,376)
(2,165,918
-
5,882,933
5,882,933
2,577,738
(7,230)
-
(7,230)
-
(7230)
5,882,933
5,875,703
2,577,738
(7,230) (246,443) (253,673) 411,820
139,131 422,716 561,847 150,027
SUL9017 6�273
1 --208.174 561,847
A -
9E
CITY OF DIAMOND BAR EXHIBIT C-3
Grand Avenue Construction Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2002
Budget Actual
Expenditures:
Current:
Highways and streets
Total expenditures
Excess of revenues over
expenditures
Other financing sources (uses):
Operating transfers out
(30,090) (7,230)
Total other financing sources (uses)
30 000 7,230)
Excess (deficiency) over (under)
expenditures and other financing
uses
(30,000) (7,230)
Fund balances at beginning of year
139,131 139,131
Fund balances at end of year
$109,131 131,901
52
Variance -
Favorable 2001
(Unfavorable) Actual
22,770
22,770
22,770
- 139,131
2,770 139.131
CITY OF DIAMOND BAR
Capital Improvement Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 0, 2002
Variance -
Favorable 2001
Budget Actual (Unfavorable) Actual
Revenues:
Intergovernmental
-
-
511,500
Licenses, permits and fees
82,712
82,712
-
Investment income
3,097
3,097
-
Total revenues
85,809
85,809
511,500
Expenditures:
Current:
Community development
-
-
-
46
Capital outlay
14,865,285
6,215j 85
8,650,100
2,600,708
Total expenditures
14,865,285
6,215,185
8,650,100
2,600,754
Excess (deficiency) of
revenues over (under)
expenditures
(14,865,285)
(6,129,376)
8,735,909
(2,089,254
Other financing sources:
Operating transfers in
13,508,944
5,882,933
(7,626,011)
2,577,738
Total other financing sources
13,508,944
5.882,933
(7,626,011)
2,577,738
Excess (deficiency) of
revenues and other financing
sources over (under) expenditures
(1,356,341)
(246,443)
1,109,898
488,484
Fund balances (deficit) at
beginning of year
422,716
422,716
-
(65,768
Fund balances (deficit) at end of year
$=j2Z33=z.:625
176.273
1,109,898
422,716
53
(This page intentionally left blank.)
INTERNAL SERVICE FUNDS
Internal Service Funds are used to account for the internal services within the City.
The City of Diamond Bar has three 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.
Computer Replacement Fund — To account for the replacement and/or enhancements of the
City's computer-related equipment.
54
Assets
Current assets:
Cash and investments
Accounts receivable
Prepaid expenditures
Total current assets
Property, plant and equipment:
Machinery and equipment
Less accumulated depreciation
Net property, plant and
equipment 36,594
Total assets $1,293,919 224,475
CITY OF DIAMOND BAR
Internal Service Funds
Combining Balance Sheet
June 30, 2002
EXHIBIT D-1
Self- Equipment Computer Totals
Insurance Replacement Replacement 2002 2001
$1,064,832
187,881
1,252,713)
1,295,420
72,838
-
72,838
122,950
156,249
-
156,249
-
1,293,919
187,881
1,481,800
1,418,370
60,486
13,506 73,992
60,486
(23,892
�406 (26,298)
L12,8633)
Liabilities and Fund Equity
Current liabilities:
Accounts payable
Total liabilities
Fund equity:
Retained earnings 1,293,919
Total retained earnings 1,293,919
Total liabilities and fund
equity $1.,293,919
w
224,475
224,475
11,100 47,694 47,623
11,100 1,529,,494 1,465,993
11,100 1,529,494 1,465,993
11,100 1,529,494 1,465,993
224,475 11,100 1,52�9494 1,465,993
EXHIBIT D-2
CITY OF DIAMOND BAR
Internal Service Funds
Combining Statement of Revenues, Expenses and Changes in Retained Earnings
Year ended June 30, 2002
Self- Equipment Computer Totals
Insurance
Operating revenues:
Insurance deposits
69,037
Total operating revenues
69,037
Operating expenses:
Insurance premiums
277,359
Depreciation
-
Maintenance
Total operating expenses
277,359
Operating income (loss)
208,322
Non-operating revenues:
Investment income
334,263
Total non-operating
revenues
34,263
Income (loss) before
operating transfers(174,059)
Operating transfers:
Operating transfers in
154,409
Total operating transfers
154,409
Net income (loss)
(19,650)
Retained earnings, July 1
1,313,569
Retained earnings, June 30
$1,293,919
Replacement Replacement 2002 2001
_69,037 64,778
69,037 64,778
277,359 191,5 13
11,029 2,406 13,435 10,863
10,030 10,0310
11,029 12,436 300,824 202,376
(11,029) 12,436 (231,787 (137,598
3,080 - 37,343 61,172
3,080 37,343 61,172
(7,949 _Cj.2,�436(194,444) 76,426
80,000 _23,536. 257,945 249,487
80,000 23,536 257,945 249,487
72,051 11,100 63,501 17.3 3,061
152,424 - .1,465,993 1,292,932
�224475 11,100 00 1,465,993
56
(7,949 _Cj.2,�436(194,444) 76,426
80,000 _23,536. 257,945 249,487
80,000 23,536 257,945 249,487
72,051 11,100 63,501 17.3 3,061
152,424 - .1,465,993 1,292,932
�224475 11,100 00 1,465,993
56
56
CITY OF DIAMOND BAR EXHIBIT D-3
Internal Service Funds
Combining Statement of Cash Flows
Year ended June -30' 2002
Self- Equipment Computer Totals
Insurance Replacement Replacement 2002 2001
Cash flows from operating activities:
Insurance deposits
$ 119,149
- -
119,149
82,874
Insurance payments
(433,608)
- -
(433,608)
(183,901)
Cash paid for operating expenses
-
- (10,030)
10,030)
Net cash provided by (used for)
operating activities
_ 314 459
-(10,030)
324,489)10(
1,027)
Cash flows from noncapital financing
activities:
Cash transferred from other funds
154,409
80,000 .23,536
257,945
249,487
Net cash provided by noncapital
financing activities
154,409
80,000 23,536
257,945
249,487
Cash flows from investing activities:
Interest received from investments
34,263
3,080 -
37,343
61,172
Purchase of equipment
-
-(13,506)(13,506)(43,459)
Net cash provided by (used for)
investing activities
34,263
3,080 13,506)
23,837
17,713
Net increase (decrease) in cash
and cash equivalents
(125,787)
83,080 -
(42,707)
166,173
Cash and cash equivalents at beginning
of year
1,190,619
104,801 -
1,295,420
1,129,247
Cash and cash equivalents at end of year
$1,064,832
-187,881 _
1,252.,713
1,295,420
Reconciliation of net operating income (loss)
to net cash provided by (used for)
operating activities:
Operating income (loss)
$(208,322)
(11,029) (12,436)
(231,787)
(137,598)
Adjustments to reconcile operating
income to net cash provided by
(used for) operating activities:
Depreciation
-
11,029 2,406
13,435
10,863
(Increase) decrease in accounts receivable
50,112
- -
50,112
18,096
(Increase) decrease in prepaid insurance
(156,249)
- -
156,249)
7,612
Net cash provided by (used for)
operating activities
$0314,459)
_ - =x,030)
(324y489)
(lOAI 00
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 2002, there were no noncash investing, capital or financing
activities.
57
GENERAL FIXED ASSETS ACCOUNT GROUP
58
CITY OF DIAMOND BAR
Comparative Schedule of General Fixed Assets by Source
June 30, 2002
General fixed assets:
Land
Buildings
Improvements other than buildings
Furniture and equipment
Total general fixed assets
Investment in general fixed assets by source:
General fund
Donations
Federal and state governments
Assessment districts
Total investment in general fixed assets
59
2002
$ 5,169,898
1,159,345
.),271,475
1,583,029
111,183,747
$ 4,204,336
3,734,906
3,231,917
12,588
$11,183,747
EXHIBIT E-1
2001
5,169,898
1,159,345
3.271,475
1.519,125
11. 119 ,843
4,152,408
3,73)4,906
3,219,941
12,588
11. 119 ,8433
CITY OF DIAMOND BAR
Schedule of General Fixed Assets by Function and Activity
June 30, 2002
Improvements
Furniture
Other than
and
Function and Activity
Land
Buildings Buildings
Equipment
Total
General government:
City council
-
- -
19,223
19,223
Administration
-
- -
883,047
883,047
City clerk
-
- -
67,566
67,566
Community development
-
- -
32,650
32,650
Finance
-
-
65,560
65,560
Other
3,609,898
- -
11,000
3,620,898
Total general government
3,609.898
- -
1,079,046
4,688,944
Public safety:
Sheriff
-
- -
170,159
170,159
Emergency preparedness
-
- -
37,463
37,463
Total public safety
-
- -
207,622
207,622
Public works
-
- -
37,384
37,384
Culture and recreation
1,560,000
1,159,345 3,271,475
215,525
6,206,345
Library
-
- -
43,452
43,452
Total general fixed assets$5
169 898
1,159 345 �_,27I 475
1_,583;029
11,183,747
CITY OF DIAMOND BAR
Schedule of Changes in General Fixed Assets by Function and Activity
Year ended June 30, 2002
EXHIBIT E-3
Public safety:
Sheriff
Balance at
25,484
- 170,159
Balance at
Function and Activity
June 30, 2001
Additions
Deletions
June 30, 2002
General government:
- 207,622
Public works
31,136
6,248
City council
$ 19,199
529
505
19,223
Administration
880,032
16,523
13,508
883,047
City clerk
66,743
823
-
67,566
Community development
32,650
-
-
32,650
Finance
65,560
-
-
65,560
Other
3,620,898
-
-
3,620,898
Total general government
_ 4,685,082
17,875
14,013
4,688,944
Public safety:
Sheriff
144,675
25,484
- 170,159
Emergency preparedness
37,463
-
- 37,463
Total public safety
182,138
25,484
- 207,622
Public works
31,136
6,248
- 37,3$4
Culture and recreation
6,189,655
16,690
- 6,206,345
Library
_ 31,832
11,620
- 43,452
Total general fixed assets
$ Ll, 19
77,917
14 O =1' 1.1183 747
W
Coming soon...
A'77* -10'
Whether you're up for a
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fhin- Nrymnnrl Re-ir ('-r)mmi inIfv1.qt=-n1r-jr
Table 1
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
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
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
2000-01
4,159,392
4,960,517
2,679,692
1,898,087
3,131,469
3,526,460
20,355,617
2001-02
3,231,328
4,933,713
2,987,084
1,737,357
6,375,957
0
19,265,439
(1) Includes General, Special Revenue and Capital Project Funds.
*Note: General Government includes Community Development Expenditures
Capital Outlay includes Cost of Property sold.
Source: City Finance Department
62
Total General Fund Expenditures
24,000,000
22,000,000
20,000,000
_
18,000,000
16,000,000
14,000,000
F:
12,000,000
77.
,,
2 10,000,000
8,000,000
?
`'
6,000,000`
G
4,000,000
e
2,000,000'
0
1990-91
1991-92
1992-93 1993-94 1994-95 1995-96 1996-97 1997-98
1998-99,1999-00
2000-01 2001-02
Fiscal Year
(1) Includes General, Special Revenue and Capital Project Funds.
*Note: General Government includes Community Development Expenditures
Capital Outlay includes Cost of Property sold.
Source: City Finance Department
62
Table 2
City of • d Bar
RevenuesGeneral Government by •
Since Incorporation in April, 1989
(unaudited)
Fiscal
Year
Taxes*
Special
Assessments
Licenses
& Permits
Inter- __
Governmental
Fines &
Forfeitures
Use of Money -
& Property
Other
Revenue
- -
Total
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
1,6661726
7,713,344
556,527
1,395,785
59,443
19,945,707
2000-01
7,229,142
547,407
2,012,263
7,131,505
509,676
1,672,384
92,227
19,194,604
2001-02
7,665,970
546,662
1,786,971
6,534,225
529,921
964,038
92,094
18,119,881
(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
Total General Fund Revenues
24,000,000
22,000,000
20,000,000
f
18,000,000
4
h`
16,000,000
14,000,000,r
y
: J
1,
G f(
c
_0 12,000,000
_
2 10,000,000
1 "Y
, i
k
a
r
ts.
1,
8,000,000 sy
6,000,000
4,000,000
2,000,000
O
1990-91
1991-92
1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02
Fiscal Year
(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
�����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
' 1990'91
1.089,679
1.013,573
93.02%
76'107
1891'92
1.232.346
1'144'019
92.83%
88.327
1982'93
1.117.482
1.025.382
91.76%
92.100 '
1993-84
1.180'435
818.467
69.34%
361.988
1994-95
1.804.068
1.825.911
90.12%
178.157
1995'96
1,796.593
1.711.983'
85.29% '
84'610
' 1998-87
' 1.809.197
89.83%
183.945
1937-98
' 1J81.264
` �1.G8O'81G
94.36Y&
100/448
` 1998-89
1.810,266
1'758.764
97'16%
' 51,502
1993-00
' 1.904.915
1.013.904
95l2%
91.011
2000-01
1.954.530
1,847.817
34.54%
108,713
2001-02
2.129.310
1.505.636
70.71%
623,674
°Notg:The Cdvc�Dian�ondBoro���dapnopedytax |avvaudw�hLos Angeles Counb/that
' payments �1882�l�S The funds were rece�edin
reou\tedinaddiUona|pnopedyta�paymne totalling ' .
three (3) payments dated February 1994, August 1994 and,August 1995. These amounts are
�
not included inthe above figures aathey vvereassociated with the mma/propeutransfer
/u//u /
at the dote of incorporation.
Source: Los Angeles County Auditor/Controller.
64
Total Property Tax Collections
2,000,000
1,800,000
1,600,000
77
1,400,000
1,200,000
1,000,000
800,000
600000
400,000
tv
200,000
0
1990-
91
1991-
92
1992- 1993- 1994- 1995- 1996- 1997- 1998- 1999- 2000- 2001-
93 94 95 96 97 98 99 00 01 02
Fiscal Year
°Notg:The Cdvc�Dian�ondBoro���dapnopedytax |avvaudw�hLos Angeles Counb/that
' payments �1882�l�S The funds were rece�edin
reou\tedinaddiUona|pnopedyta�paymne totalling ' .
three (3) payments dated February 1994, August 1994 and,August 1995. These amounts are
�
not included inthe above figures aathey vvereassociated with the mma/propeutransfer
/u//u /
at the dote of incorporation.
Source: Los Angeles County Auditor/Controller.
64
0
°°19B2-S3LosAngeles Auditor/Controller reported noPublic Utility Valuations.
Source: Los Angeles County Audhoc8ContnoUer,HcUCoran&Cone
G�
Net Assessed Value
Table 4
City of Diamond
Bar
5,000,000,000
Assessed and Estimated Actual Values
of Taxable
Property
Since Incorporation in
April, 1989
'
(unaudited)
Fiscal
Secured
Unsecured Public -
Percentage
GrossYear
4,500,000,000
1990-81
2]328.368.105
O 827,618
5/409'199
2,9X21,7l86.524
9.69%
1991-92
3,2U85.467.698
40.898.283 692.390
10.821,667
3.315.938.884
13.43%
1992-93
3.493.803,851
45'032.180 O
27,932.043
3,510.903'388
5.88%
1993-94
3'538.458.242
49,709.273 844.313
25.119.688
3.561.887,140
1.45%
1994'95
3,819.438'021
57.158'841 820.862
33.523'553
3.643.832.171
2.30%
1995-96
3.859.337.878
60'689.091 825.138
35.979,540
3.684.872.565
1.12Y&
1386-97
3'880.223.979
84,187.086 828.863
27.479'616
3.697,780.412
0.35%
1997-98
3,645.934.575
67.863,390 884.347
37.731.129
3.677.011.183
-0.56%
1898'99
3'730.370,102
74'441.058 876'688
38,373.708
3.767.314.142
2'46%
1999-00
3.873.275.738
68.844.054 125.921
36.484.583
3,900,751.190
3.54%
2000-01
4'098.200.125
67.438'047 116.405
40'088,848
4.125,665.829
5.77%
2001-02
4.327.911.837
71.622'089 127.441
41.889,703
4,357.791'864
11.72%
°°19B2-S3LosAngeles Auditor/Controller reported noPublic Utility Valuations.
Source: Los Angeles County Audhoc8ContnoUer,HcUCoran&Cone
G�
Net Assessed Value
5,000,000,000
4,500,000,000
4,000,000,000
3,500,000,000
2,000,000,000
1,500,000,000
11000,000,000
M
500,000,000
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01 2001-02
Fiscal Year
°°19B2-S3LosAngeles Auditor/Controller reported noPublic Utility Valuations.
Source: Los Angeles County Audhoc8ContnoUer,HcUCoran&Cone
G�
���� ' ��~�00���� Bar
~�~~� �� Diamond _
Property Tax UN Direct and Overlapping Governments
��������� °�� ����V���iK���
�" �o�"=� =" =����=~� Valuation)
'-'
Since Incorporation in April, 1989
(unaudited)
FiscalGeneral
Year
--Water
Levy
LooAng �
County
VVamdVaUay
School District
VVomkVaUey
Water District
LACoun�
Flood Control
LAOoun�
Sanitation
. U�m
District
Total
1990-91
1.0000000
0.0021040
0.1597230
0.0578770
0.0057860O.0007470
0.0097000
1.2359370
1991-92
1 �-OOOOOO
D.0018880
0.0404290
0.0516750
0.0053760
0.0002090
0.0089000
1.1084770
1992-93
1'--000000
O.0014090
0.0974170
0.0481650
0.0033970
0.0002060
0.0089000
1.1594940
1993'94
1'-000000
0.0017130
0.0863570
0.0448070
0.0042120
0.0000000
0.0089000
1.1459890
1994-95
1'--00000
0.0019930
0.0649030
0.0000000
0.0080410
0.0000000
0.0089000
1.0818370
1995'96
1-000000
' 0.0018140
0.0089866
0.0000000
0.0009630
0.0000000
0.0089000
1.0206636
1996-37
1'--00000
0.0016040
0.0850380
0.0000000
0.0019910
0.0000000
0.0089000
1.0975330
1997-98
1'~000000
0'0015840
0.1025300
0.0000000
0.0021970
0.0000000
0.0089000
1.1152110
1998-99
1-000000
00014510
0.0694610
0.0000000
0.0019530
0.0000000
0.0089000
1.0817650
1999'00
1'0000000
0.0014220
0.0784890
__O.08OOO8O
0.0017650
0.0000000
O.0089000
1.090E760
2000-01
1'0000000
0.0013140
0.0884030
0.0000000
0.0015520
0.0000000
0.0088000
1.1000630
2001-02
100000
0.0011280
0.0916300
0.0000000
0.0004730
0.0000000
0.0077000
1.1009310
*Note: Property tax rates based on a typical tax rate area.
Source: Los Angeles County Auditor/Controller, Hdl Coren & Cone
M
Typical Property Tax Rates
(Percent of Assessed Value)
1.7500000 -
1.5000000
1.2500000
1.0000000
0.7500000 -
0.2500000
0.0000000 - -
1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98
1998-99 1999-00 2000-01 2001-02
Fiscal Year
*Note: Property tax rates based on a typical tax rate area.
Source: Los Angeles County Auditor/Controller, Hdl Coren & Cone
M
Table 6
City of
Diamond_ Bar
Principal Taxpayers
'
'
June 30, 2001
��� '
^ -i -_^ '
07
200-02
Percentage of Total
Taxpayer
Primary Use
Assessed Valuation
Net Assessed Valuation
Opus Rea/ Estate California
Commercial
$25.729.717
0.583%
[RPM Muller Associates [LC
Commercial
22.056.480
0.500%
Hidden Manna Corporation
Commercial
20.944.741
0.474%
K8&HRealty Partners U
` Commercial
19,873.998
0.446%
Martin BrattrudPropertieo
Commercial
14.681.041
0.333'%
HRBarn)oFamily Limited Partnership
Con)nleoja|
13.941.356
0.316%
Lakeview Village Corporation
Commercial
12,750.172
0.28B9%
Shea Homes Limited Partnership
Commercial
12.064.282
0.273%
Arden Realty Finance III LLC
Commercial
10.861.701
0.248%
1O22South Grand Avenue
Residential
10.845.782
0.246%
163,549,265
3.705%
07
City of Diamond Bar
Computation of Legal Debt Margin
June 30, 2001
(unaudited)
Assessed Valuations:
Assessed Value
Add Back: Exempt Property
Total Assessed Value
Legal Debt Margin:
Debt limitations -15% of Total Assessed Value*
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
Legal Debt Margin
The City of Diamond Bar has no bonded indebtness.
*Section 43605 of the California Government Code
Source: City Finance Department, HdI Coren & Cone
68
$ 4,125,665,929
40,088,648
$ 4,165,754,577
$ 624,863,187
0
$ 624,863,187
Table 7
City of Diamond Bar
Computation of Direct and Overlapping Debt
June 30, 2001
Government
Loo Angeles County Detention Facilities 1S87Debt Svc
LA Co Flood Control Drain Bond No4)D8
Flood Control Ref. Bonds 1BS3Debt Service
*Metropolitan Water District Three Valley Area 1112
Pomona Unified School District Ref Ser 1998DOG
Pomona Unified GD2DO1Refund Series A OebtGen/ic
Pomona Unified 8D1SB7Series A Debt Service
Pomona Unified BDRefunding 2OOOSer ADebt 8en/ic/
Walnut Valley Unified SD2OOO8orieaBOG
Walnut Valley Unified GORefund Series 18B7AD8
Walnut Valley Unified SD 2000 Series O8
Total Gross Direct and Overlapping Bonded Debt
Gross Bonded
Debt Balance
2UO1-2OO2Assessed Valuation: $4.357.781,6G4
Debt toAssessed Valuation Ratios: Direct Debt
Overlapping Debt
Total Debt
% Applicable Debt @
To City 06/30/2002
0.788
0.800 109'780
OJ]OO 135.800
0.833 4,190.615
27.388 2'736.800
27.368 6.234.430
27'368 13.039.484
27.388 5.654.229
76.348 5.844,360
76.348 32.075.871
76.348 5260377
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 isaportion ofnlarger agency, and is responsible for debt in areas outside the city.
Source: City Finance Department, Hd|Coren&Cone
R9
Type of Coverage
City of Diamond Bar
Schedule of Insurance
June 30, 2001
(unaudited)
Limits/Deductibles
Insurer
Policy period
Liability:
General Liability, Automobile Liability,
$50,000,000 limit each occurrence,
Self Insured Program
07/1/01 -Until
Bodily Injury, Property Damage,
$50,000,000 annual aggregate.
California Joint Powers
suspended or
Personal Injury.
Retained loss of $30,000 per
Insurance Authority.
terminated.
occurrence.
Special Liability:
Errors and ommissions, Employment
$50,000,000 limit each occurrence,
Self Insured Program
07/1/01 -Until
Practices injury, Contractual Liability
$50,000,000 annual aggregate.
California Joint Powers
suspended or
injury, Broadcast/Publication injury
Retained loss of $50,000 per
Insurance Authority.
terminated.
Employee Benefits, Administration
occurrence.
injury, Discrimination injury.
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,
$100,000,000 per occurence,
Robert F. Driver Assoc.
12/31/00-12/31/01
garaged vehicles, contractor's equip-
deductible of $5,000 per occurrence.
ment, fine arts, rental income and other
miscellaneous extentions of coverage.
Automobile:
Automobile Physical Damage
$100,000,000 per occurence,
Robert F. Driver Assoc.
12/31/00-12/31/01
deductible of $1,000 per occurrence
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
$1,000,000 limit, deductible of
$2,500 per occurrence
$1,000,000 limit, deductible of
$2,500 per occurrence
$1,000,000 limit, deductible of
$2,500 per occurrence
$1,000,000 limit, deductible of
$2,500 per occurrence
Robert F. Driver Assoc. 01/01/01-04/01/02
Robert F. Driver Assoc. 01/01/01-04/01/02
Robert F. Driver Assoc. 01/01/01-04/01/02
Robert F. Driver Assoc. 01/01/01-04/01/02
$50,000 Self Insured Program 10/01/00-10/01/01
employers liability incl defending costs. California Joint Powers
Insurance Authority.
$1,000,000 per occurrence and
aggregate per event. $5,000 medical
expense limit.
Source: City Finance Department 70
Robert F. Driver Assoc. 04/01/01-04/1/02
Table 10
City of Diamond
`m~d Bar
Demographic and Miscellaneous Statistical Information
June 30, 2001
(unaudited)
Form of Government
^^—^'~—''~^^''-^^^^---^~'^''—.—._..--..... ager
Area -----.----.—....--.—..-------..—.—.—.14.98quarernUeo
Miles ofStreets ------.—.------------.--------. 137
l -time) ..~..—'_—.'....—,.....—......—....—..._.—... 41
—'—'''''—'--'—'—'--'---'---.—.----.—.— 53
Fire Protection
(Los Angeles County Consolidated Fire protection District)
Number ofStations —.—...--------..—.------....—.--.--- 3
Number cfOfficers --.—.--.-----.--.-.....---..-----..--. 38
Sewers:
Sanitary Sewers ---.-----.—.---.------..—.------ 146.88
Recreation QCulture:
Community Centers --.—.._.....--.....-----.—...---.--.. 1
Parks--..--.....--....--.----..._.----.. 10
Park---.---------.--.----..----..--- 60.9
Park ----.—..-----,--------------.. 81'5
Education:
Ben)anbarySchools /K -G\ .--~.—....---...—.—.---...--.—.---- 7
Middle Schools /G'8\ .--...--._~.---.—..------.—.--.— 3
JrHigh Schools (7-8) .~..--...—~...^.—_.-...,.....-----....—.. 3
Population: -_ *
/
Date
Population
Percentage Increase
1891
53,596
-0.14%
1992
53,576
-0.04%
1393
54,315
1.3B8% .
1994
, 54.507
0.35%
1995
54,284
-0.41%
1996
58.003
3.17%
1997
56.859
1.17%
1988
57,271
1.08%
1999
58.300
1.80%
2000
53.100
1.37%
2001
56,287
-4.76%
2002
58.100
3.22%
Note: 1g8Sand 2OO2 population numbers are estimates.
*Source: State of California, Department of Finance
71
Table 11
(1) Includes multiple dwellings
Source: City's Contract Building & Safety Provider, Findley Reports
72
City of Diamond Bar
Residential
and Commercial Construction
Since Incorporation
in April, 1989
(unaudited)
New Construction
Fiscal
Residential (1)
Commercial
Year
Units
Value
Units
Value
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
1999-00
28
18,274,000
2
1,706,000
2000-01
92
42,558,001
3
8,431,000
2001-02
73
37,849,631
1
6,621,000
Alterations and Additions
Fiscal
Residential (1)
Commercial
Year
Units
Value
Units
Value
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
2000-01
716
10,069,605
57
4,614,427
2001-02
784
8,227,250
54
9,737,510
Bank Deposits
06/30/1990
343,605,000
06/30/1991
377,224,000
06/30/1992
381,710,000
06/30/1993
371,506,000
06/30/1994
379,581,000
06/30/1995
423,640,000
06/30/1996
480,610,000
06/30/1997
472,071,000
06/30/1998
532,147,000
06/30/1999
533,242,000
06/30/2000
607,018,000
06/30/2001
716,167,000
(1) Includes multiple dwellings
Source: City's Contract Building & Safety Provider, Findley Reports
72
Table 12
City of Diamond Ear
Ratio -Unreserved General Fund Balance to Annual General Fund
Expenditures
Since Incorporation in April, 1989
(unaudited)
Unreserved Annual
Fiscal General Fund General Fund
Year Balance Expenditures Ratio
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
2000-01
17,335,873
15,145,985
1.1446
2001-02
19,917,526
11,127,815
1.7899
Source: City Finance Department
73
General Fund Ratio
2.0000-
.00001.80001.6000
1.8000-
�
t6000
.4000
1.4000-
J
1.2000
1.2000
1 .0000
. 1
'!
'•i"v
it N,
Sxt
{.1 ':
77
0.8000
=i
0.6000
r
0.4000
it
a;
0.2000
u,
0.0000
1990-91 1991-92
1992-93 1993-94
1994-95 1995-96 1996.97 1997-98 1998-99 1999-00 2000-01 2001-02
Fiscal Year
Source: City Finance Department
73
of -low
City of Diamond Bar
Schedule of Credits
Year Ended June 30, 2002
Linda C. Lowry, City Manager
David A. Doyle, Deputy City Manager
Linda G. Magnuson,Finance Director
Conrad and Associates, C.P.A., L.L.P.
April Blakey
Public Information Manager
Source: City of Diamond Bar
74
General Overview
Letter of Transmittal
General Overview
Letter of Transmittal
General Overview
Letter of Transmittal
Statistical Tables
Financial Statements
Notes to Financial Statements
Cover and Divider Page Design
(This page intentionally left blank.)
DEMOIND BAR
Fill
Im"'we M -N
1* i
625 E. Copley Drive s, Diamond Bar, CalifOrnia & 91765-4178