HomeMy WebLinkAboutCAFR - FY 2004-05CITY OF DIAMOND BAR, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED
JUNE 30, 2005
Prepared by:
FINANCE DEPARTMENT
Linda C. Magnuson
Director of Finance
CITY OF DIAMOND BAR
TABLE OF CONTENTS
June 30, 2005
Page
Number
INTRODUCTORY SECTION:
Letter of Transmittal
i - vi
CSMFO Certificate of Award for Outstanding Financial Reporting
vii
GFOA Certificate of Achievement for Excellence in Financial Reporting
viii
Organization Chart
ix
List of Principal Officials
x
FINANCIAL SECTION:
Independent Auditors' Report
1 - 2
Management's Discussion and Analysis (Required Supplementary Information)
3-11
Basic Financial Statements:
Government -wide Financial Statements:
Statement of Net Assets
15
Statement of Activities
16
Fund Financial Statements:
Governmental Funds:
17
Balance Sheet
18 -19
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Assets
21
Statement of Revenues, Expenditures and Changes in Fund Balances
22 - 23
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures and Changes in Fund Balances to the Statement of Activities
24
Proprietary Funds:
Statement of Net Assets
25
Statement of Revenues, Expenses and Changes in Fund Net Assets
26
Statement of Cash Flows
27
Notes to Basic Financial Statements
28-50
CITY OF DIAMOND BAR
TABLE OF CONTENTS
(CONTIN'UED)
June 30, 2005 .
Page
FINANCIAL SECTION (CONTINUED):
Number
Required Supplementary Information:
Budgetary Comparison Schedules:
53
General Fund
54
Proposition A Transit Special Revenue Fund
55
Intermodal Surface Transportation Enhancement
Act (ISTEA) Special Revenue Fund
56
Note to Required Supplementary Information
57
Supplementary Information:
Nonmajor Governmental Funds:
Combining Balance Sheet
60
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
61
Nonmajor Special Revenue Funds:
62-63
Combining Balance Sheet
64-65
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
66-67
Schedules of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual:
State Gas Tax Fund
68
Proposition C Transit Fund
69
Integrated Waste Management Fund
70
Air Quality Improvement Fund
71
California Law Enforcement Equipment Program. (CLEEP) Fund
72
Park and Facility Development Fund
73
Community Development Block Grant (CDBG) Fund
74
Citizens Option for Public Safety (COPS) Fund
75
Asset Seizure Fund
76
Landscape Maintenance District Fund
77
Nonmajor Debt Service Fund:
79
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual:
Public Financing Authority Fund
80
CITY OF DIAMOND BAR
TABLE OF CONTENTS
(CONTMTED)
June 30, 2005
FINANCIAL SECTION (CONTINUED):
Supplementary Schedules (Continued):
Nonmajor and Major Capital Projects Funds:
Combining Balance Sheet
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
Schedules of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual:
Public Financing Authority Fund
Grand Avenue Construction Fund
Capital Improvement Fund
Internal Service Funds:
Combining Statement of Net Assets
Combining Statement of Revenues, Expenses and
Changes in Fund Net Assets
Combining Statement of Cash Flows
STATISTICAL SECTION:
Government -wide Expenses by Function
Government -wide Revenues by Source
General Governmental Expenditures by Function
General Governmental Revenues by Source
Secured Property Tax Levies and Collections
Assessed and Estimated Actual Values of Taxable Property
Property Tax Rates - All Direct and Overlapping Governments
Computation of Legal Debt Margin
Computation of Direct and Overlapping Debt
Residential and Commercial Construction and Bank Deposits
Principal Property Taxpayers
Schedule of Insurance
Demographic and Miscellaneous Statistical Information
Schedule of Credits
Page
Number
81
82
83
84
85
86
87
88
89
90
91
Table
1
92
2
93
3
94
4
95
5
96
6
97
7
98
8
99
9
100
10
101
11
102
12
103
13
104
14
105
December 19, 2005
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; 2005. This
year the City's annual financial report has been formatted to comply with
the new financial reporting model developed by the Governmental
Accounting Standards Board (GASB) Statement 34. The new financial
reporting model changes the format of the City's financial statements. It
is intended to improve financial reporting by including significant
additional information not previously available in local government
financial statements.
This report consists of management's representations concerning the.
finances of the City. Consequently, responsibility for both the accuracy
of the presented data and the completeness and fairness of the
presentation, including all disclosures, rests with the City's management.
To provide a reasonable basis for snaking these representations;
management of the City has established a comprehensive internal control
framework that is designed both to protect the City's assets from loss,.
theft, or misuse and to compile sufficient reliable information for the
preparation of the City's financial statements in conformance with
GAAP. Because the cost of internal controls should not outweigh their
benefits, the City's comprehensive framework of internal controls has
been designed to provide reasonable rather than absolute assurance that
the financial statements will be free from material misstatement. As
management, we assert that; to the best of our knowledge and belief, this
financial report is complete and reliable in all material aspects.
The City's financial statements have been.audited by Diehl, Evans and
Company L.L.P., a firm of certified public, accountants. The goal of the
independent audit was to provided reasonable assurance that the financial
statements of the City for fiscal year ended June 30, 200$, are
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free of material misstatement. The independent audit, involved examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements; assessing the
accounting principles. used and significant estimates made by management; and evaluating
the overall financial statement presentation. The independent auditor concluded based
upon the audit that there was a reasonable basis for rendering an unqualified opinion that
the City's financial statements for the fiscal year ended June 30, 2005, were fairly
presented in conformity with GAAP. The independent auditor's report is presented as the
first component of the financial section of this report.
The independent audit of the financial statements of the City of Diamond Bar was part of a
broader, federally mandated "Single Audit" designed to meet the special needs of federal
grantor agencies. The standards governing Single Audit engagements require the
independent auditor to report not only on the fair presentation of the financial statement;
but also on the audited City's internal controls and legal requirements involving the
administration of federal awards. These reports are available in the City's separately issued
Single Audit Report.
GAAP requires that management provide a narrative introduction, overview, and analysis,
to accompany the basic financial statements in the form of Management's Discussion and
Analysis (MD&A). This letter of transmittal is designed to complement MD&A and
should be read in conjunction with it. The City's MD&A can be. found immediately
following the report of the independent auditors.
I W Zkol W 111 W03 0 V .1 �0► 101 f
The City, incorporated in 1989, is located at the junction of the 57 and 60 freeways. As
a result, the City of Diamond Bar is at the hub of the Los Angeles basin transportation
network. A twenty-five mile radius .encompasses Pasadena, downtown Los Angeles,
Long Beach, Irvine and Riverside. Diamond Bar is a relatively young residential
community of about 59,000, situated among the meandering hills and valleys of Brea
Canyon. Many desired services can be found.in Diamond Bar's shopping and business
centers. Recreational opportunities within the City include more than 70 acres of
developed park facilities, a new community center, an 18 -hole public golf course and
370 acres of undeveloped publicly owned open space.
The City has operated under the council-manager form of government since
incorporation. Policy making and legislative authority are vested in a five member City
Council. The City Council is responsible, among other things, for passing ordinances,
adopting the budget, appointing'committees and task forces, and hiring both the City
Manager and City Attorney. The City Manager is responsible for overseeing the day -to
day operations of the City, and for appointing the heads of the various departments. The
Council is elected on anon -partisan basis. Council members serve four-year staggered
terms, with elections held every other year. Each December, the City Council selects a
mayor and mayor pro tem from its membership.
The City of Diamond Bar is a contract city and as such contracts for many of its
services. This includes police services, building and safety services, engineering; road
maintenance and landscape maintenance.
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
During the last few years, the City of Diamond Bar's economy has seen a slight
improvement. This fiscal year was no exception as illustrated by higher sales tax
revenues and transient occupancy tax revenues. Now, with the shifts in State revenue
and the anticipated loss of two major sales tax producers, the future is not as stable as it
once was. The Cityhas, however, built General Fund reserves to fill in any gaps created
by the economy or the State. A careful analysis of the FY 05-06 budget will be done
mid -year to adjust anticipated revenues as well as appropriations.
The City continues to market opportunities for business expansion and business
attraction. As a result of these efforts, the City is starting to realize some of the fruit of
its labor. In fiscal year. 2003-2004 a major economic development opportunity
presented itself. Lewis Development proposed a residential and retail project called the
Village at Diamond Bar which is located at the intersection of Grand Avenue and
Golden Springs Drive. The anchor of this shopping center will be a Target department
store which will contribute a great deal to the City's sales tax base. This location is
considered one of the prime retail locations in the City. In addition, the Country Hills
Town Center is being redesigned and a new grocery store is being sought. In FY05-06,
the City will continue to explore opportunities to expand its sales tax and property tax
p pp commercial areas. These include the
base with new development opportunities in its
Walnut Valley Trailer Park site; L.A. County Golf Course site; and the K -Mart
Property.
Of major concern, are efforts by the State to reduce municipal revenue resources such as
motor vehicle license fees and gas tax revenues. The City.of Diamond Bar continues to
join forces with other cities via various organizations to monitor State activities and
possible threats to City revenue sources.
AWARDS
The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the City
of Diamond Bar for its comprehensive annual financial report for the fiscal year ended
June 30, 2004. 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 ten consecutive
years (fiscal years ended 1995 through 2004 ). 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 ten consecutive years..
REPORTING ENTITY AND ITS SERVICES
This Comprehensive Annual. Financial Report includes all funds 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 neighborhood
improvement), 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.
Cash Management
The City invests temporarily idle funds in accordance with the Government Code and
the investment policy approved annually by the City Council. During FY04-05, 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
Money Market Mutual Fund accounts that are in accordance with the City's investment
policy. 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:
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 other member agencies. The City 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 belongs to the CJPIA's Workers' Compensation Insurance Program. The
administration of the workers' compensation program is similar to that of the authority's
liability program. The City is charged for the first $50,000 of each claim. Costs from
$50,001 to $100,000 per claim are pooled based on the member's losses under its
retention lever. Costs between $100,001 & $500,000 are pooled based on payroll.
Costs.in excess of $500,000 are paid by excess insurance purchased by the CJPIA. The
excess insurance provides coverage to statutory limits.
Additionally, the City has all risk property insurance through the Authority. The City's
property is currently insured according to a schedule of covered property submitted to
the Authority by the City. Total all-risk property insurance overage is $100,000,000 per
occurrence. There is a $5,000 per loss deductible. Premiums for the coverage are paid
annually.
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, 2005 was
$1,712,615.04.
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 varies from year to year
and is computed as part of an actuarial valuation. For the three years ended June 30,
2003, 2004, and 2005 the total contribution to PERS was 11.66%, 12.70% and 15.06%
respectively, of the annual covered payroll. The City's total contribution to the system
was $364,838 for FY004-05. The total contribution paid by the City included employer
contributions as well as member contributions for which the City is contractually
obligated to pay on behalf of its employees.
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, Diehl, Evans and Company 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,
lUA-
Linda C. Lowry
City Manager
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CITY OF' DIAMOND A
ELECTED ADMINISTRATIVE OFFII L
Mayor
Wen Chang
Mayor Pro Tem
Deborah H. O'Connor
Councilmember
Carol Herrera
Councilmember
Jack Tanaka
Councilmember
Robert Zirbes
City Manager
Linda C. Lowry
Deputy City Manager
James DeStefano
Deputy.City Manager
David A. Doyle
Director of:
Community Services
Bob Rose
Finance
Linda G. Magnuson
Public Works
David G. Liu
DIEHL, EVANS & COMPANY; L LLP
CERTIFIED PUBLIC ACCOUNTANTS & CONSULTANTS
MICHAEL R LUDIN, CPA
CRAIG W. SPRAKER. CPA
A PARTNERSHIP INCLUDING ACCOUNTANCY CORPORATIONS NITIN P. PATEL. CPA
ROBERT I. CALLAN AN. CPA
-PHILIP H. HOLTKAMP, CPA
2121 ALTON PARKWAY; SUITE 100 -THOMAS M. PERLOWSKL CPA
IRVINE, CALIFORNIA 92606-4956 -HARVEY J. SCHROEDER, CPA
-(949) 399-0600 •FAX (949) 399-0610 ' KENNETH I- AMES, CPA
www.dieh)eyans.Com •A PROFESSIONAL CORPORATION
November 9, 2005.
INDEPENDENT AUDITORS' REPORT
The Honorable Mayor and City
Council of the City of Diamond.Bar;
Diamond Bar, California
We have audited the. accompanying financial statementsof the Cit o governmental, Diamond B �Californiaaas of ch major
fund, and the aggregate remaining fund ,information y d
for the year ended June 30, 2005, which collectively comprise the City's basic financial statements as
listed in the table of contents. These financial statements are the responsibility of the City of Diamond
Bar's management. Our responsibility, is to express opinions on these 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. 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
opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, each major fund, and the aggregate
remaining fund information of the City of Diamond Bar, California, as of June 30, 2005, and the
respective changes in financial position and cash flows, where applicable, thereof for the year then
ended in conformity with accounting principles generally accepted in the United States of America.
OTHER OFFICES AT:2965 ROOSEVELT STREET 613 W. VALLEY PARKWAY. SUITE 330
CARLSBAD, CALIFORNIA 92005-2389 ESCONDIDO. CALIFORNIA 9202.5-2598
(760) 729-2343 FAX (760) 729_2234(760) 741-3141 • FAX (760) 741-9890
In accordance with Government Auditing Standards, we have also issued our report dated
November 9, 2005 on our consideration of the City of Diamond Bar's internal control over financial
reporting and our tests of its compliance with certain provisions of laws, regulations, contractsand
grant agreements and other matters. The purpose of that report is to describe the scope of our testing
of internal control over financial reporting and compliance and the results of that testing, and not to
provide an opinion on the internal control over financial reporting or on compliance. That report is an
integral part of an audit performed in accordance with Government Auditing; Standards and should be
considered in assessing the results of our audit.
The management's discussion and analysis and the required supplementary information are not a
required part of the basic financial statements but are supplementary information required by the:
accounting principles generally accepted in the United States of America. We have applied certain
limited procedures, which consisted principally of inquiries of management regarding the methods of
measurement and presentation of the required supplementary information. However, we did not audit
the information. and express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City of Diamond Bar's basic financial statements. The introductory, section,
other supplementary information and statistical section as listed in the table of contents are presented
for purposes of additional analysis and are not a required part of the basic financial statements. The
other supplementary information has been subjected to the auditing procedures. applied in the audit of
the basic financial statements and, in our opinion is fairly stated in all material respects in relation to
the basic financial statements taken as a whole. The introductory section and statistical section have
not been subjected to the auditing procedures applied in the audit of the basic financial statements and,
accordingly, we express no opinion on them.
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CITY OF DIAMOND BAR
Management's Discussion and Analysis
June 30, 2005
As management of the City of Diamond Bar, we offer readers of the City of Diamond Bar's financial
statements this narrative overview and analysis of the financial activities of the City of Diamond Bar
for the fiscal year ended June 30, 2005. We encourage readers to consider the information presented
here in conjunction with additional information that we have furnished in our letter of transmittal.
Financial I3igh1ights
® During the fiscal years to more accurately show the . limitations placed on various special
revenue fund assets, these assetshave been reclassified from. unrestricted assets to restricted
assets. As a result, the City's total net assets increased by $3;813,399 while the composition of
the net assets `changed from having'74% to 65% in unrestricted net assets.`
• The4otal revenues from all,sources equaled $22,537,562.
m The total cost of all City programs equaled $18;724,163:
• The assets of the City of Diamond Bar exceeded its liabilities at the close of the fiscal year by
$46,131,800 (net assets). Of ibis amount,: $30,019,734 (unrestricted net assets) may be used to
meet the City's ongoing obligations to citizens and creditors.
• At the end of the current fiscal year, unreserved fund balance for the general fund was
$24,809,721, or one and four fifths the amount of general fund expenditures.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City of Diamond Bar's basic
financial... statements. The City of Diamond Bar's basic financial statements comprise three
components: 1) government -wide financial statements, 2) fund financial statements, and 3) notes to the
basic financial statements. This report also contains other supplementary information in addition to the
basic financial statements themselves:
Government -wide financial statements - The government =wide financial statements are designed to
provide readers with a broad overview of the City of Diamond Ban's finances, in a'manner similar to a
private -sector business:
f p all of the City of Diamond Bar's assets and
The statement o net assets resents information on
liabilities, with the difference between the two reported as net assets. Over time, increases or
decreases in new assets may serve as a useful indicator of whether the financial position of the City of
Diamond Bar is 'improving or deteriorating: .
See independent' auditors' report.
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CITE' OF DIAMOND BAR
Management's Discussion and Analysis
(Continued)
June 30, 2005
Overview of the Financial Statements (Continued)
Government -wide financial statements (Continued)
The statement of activities presents information showing how the City's net assets changed during the
most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving
rise to the change occurs, regardless of the timing of related cashflows. Thus, revenues and expenses
are reported in this statement for some items that will only result in cash flows in future fiscal periods
(e.g., uncollected taxes and earned but unused vacation leave).
Both of the government -wide financial statements distinguish functions of the City of Diamond Bar
that are principally supported by taxes and intergovernmental revenues (governmental activities) from
other functions that are intended to recover all or a significant portion of their costs through user fees
and charges (business -type activities). The governmental activities of. the City of Diamond Bar include
general government, public safety, highways and streets, community development, and parks and
recreation. The City of Diamond Bar currently has no business -type activities.
The government -wide financial statements include not only the City of Diamond Bar itself,, but also a
legally separate financing authority. Although legally separate, the _Diamond Bar Financing Authority
is included because the City is financially accountable for it.
Fund financial statements — A fund is a grouping of related accounts that is used to maintain control
over resources that have been segregated for specific activities or objectives. The City of Diamond
Bar, like other state and local governments, uses fund accounting to ensure and demonstrate
compliance with finance -related legal requirements. All of the funds of the City can be divided into
two categories: governmental funds, and proprietary funds.
Governmental Funds - Governmental funds are used to account for essentially the same functions
g
reported as governmental activities in the government -wide financial statements. However, unlike the
P
government -wide financial statements, governmental fund financial statements focuson near-term
inflows and outflows of spendable resources, available at the end of the fiscal year. This information
helps to determine whether there are, more or fewer financial resources that can be spent in the near
future to finance the City's programs.
Because the focus of governmental funds is narrower than that of the government -wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for- governmental activities in the government -wide financial statements. By
doing so,. readers may better understand the . long-term impacts of the City's. near-term financing
decisions. , Both the governmental fund balance sheet and the governmental fund, statement of
revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this
comparison between governmental funds and governmental activities.
See independent' auditors' report.
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CITY OF DIAMOND BAR
Management's Discussion and Analysis
(Continued)
June 30, 2005
Overview of the Financial Statements (Continued)
Fund financial statements (Continued)
Governmental Funds (Continued) - The City of Diamond Bar adopts an annual appropriated budget
for its general fund. A. budgetary comparison statement has been provided for the general fund to
demonstrate compliance with this budget.
Proprietary Funds — The type of proprietary funds that the City maintains are internal service funds
that .are used to allocate costs internally among the various functions of the City. The City of Diamond
Bar uses these funds to account for its liability insurance costs and vehicle and computer replacement
costs. Because these services predominantly benefit governmental rather than business -type functions,
they have been included within governmental activities within the government -wide financial
statements:
Notes to the Basic Financial Statements The notes provide additional information that is essential to
a full understanding of the data provided in the government -wide and fund financial statements.
Other Information — In addition to the basic financial statements and accompanying notes, this report
also presents certain required supplementary information concerning the City'. s budgetary control and
accounting and expenditures in excess of appropriations.
Government -wide Financial. Analysis
As mentioned earlier, net assets may serve over time as a `useful indicator of the City's financial
position. The City of Diamond Bar's assets exceeded liabilities by $46,131,800 at the close of 2005,.
(See Table 1).
In in the net assets of the City of Diamond Bar is its investment in capital assets (e.g., land,
buildings, machinery, construction in progress and equipment), less the related outstanding .debt used
to acquire those assets: The City of DiamondBar uses these capital assets to provide services to its
citizens; ` consequently, these assets are not available. for future spending.. Although the City's
_reported net of related debt, it should be noted that the resources
investment in its capital assets is
needed to repay this debt must be provided from other sources, since the ' capital assets themselves
cannot be used to liquidate these liabilities.
See independent auditors' report.
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CITY OF DIAMOND BAR
Management's Discussion and Analysis
(Continued)
June 30, 2005
Government -wide Financial Analysis (Continued)
Table 1
City of Diamond Bar's
Condensed Statements of Net. Assets
Governmental Activities
2005 2004
Current and other assets $ 39,547,890 $ 35,763,758
Capital assets 23,729,680 23,422,324
Total Assets 63,277,570 59,186,082
Long-term debt outstanding 13,558,447 13,530,722
Other Liabilities 3,587,323 3,336,959`
Total Liabilities 17,145,770 16,867,681
Net assets:
Invested- in capital assets, net of debt 10,103,060 10,844,807
Restricted 6,009,006 241,767
Unrestricted 30,019,734 31,231,827
Total Net Assets $ 46,131,800 $ 42,318,401
The City's total revenues were $22,537,562, while the total cost of all programs and services were
$18,724,163. Revenues this fiscal year were 23.1 % higher than those of the prior year. There were
increases in most of :the revenue categories. The following are highlights of some of the major
differences:
® Charges for Services were higher this year due to increased building and construction activity.
The increase was also due to the addition of new recreation programs.
Sales tax, transient occupancy tax and franchise taxes were all higher this year due to a growing
economy.
® The significant increase in Motor vehicle in lieu revenue is primarily due to the State's
payment of nearly one million dollars to 'replace funds that had been taken from the City in
2003. In' addition, due to the State's fiscal crisis, the City didn't receive its. full allocation of
Motor vehicle in lieu fees during the first quarter of fiscal year 2003-2004.
® Investment Income was higher due to the rising investment yields and higher cash balances.
® Other Revenue category includes Rents and Concessions. This, fiscal year Rents and
Concessions. nearly tripled due to the first full year's rental of space in the Diamond Bar
Center. -
See independent auditors' report.
-6-
CITY OF DIAMOND BAIL
Management's Discussion and Analysis
(Continued)
June 30 2005
Government -wide Financial Analysis (Continued)
Table 2
City of Diamond Bar's .
Changes in Net Assets
2005
:2004
Revenues:
Program revenues:
Charges. for services $
4,129,802 $
3,033,645
Operating grants and contributions
4,040,785
4,068,446
Capital grants and contributions
261,994.
General Revenues
Property taxes
3,155,723:
2,682,$72
Transient occupancy taxes -
717,879
628,564 .,
Sales taxes
2,645,096
3,167,901
Property taxes in lieu of sales taxes
863,245
Franchise taxes
941,319
912,531
Motor vehicle in lieu
4,386,800
2,716,134
Property transfer tax
413,247
367,464
Other taxes
35,283
35,077 ,
Investment income
532,091
182,069
_. Other
676,292
250,250
`Total revenues
22,537,562
18,306,947
Expenses:
General Government
3,997,319
3,713,530 -
Public Safety
4,969,183
4,875,823
Highways and Streets
4,622,014
1,365,737 `
Community Development
1,050,025
5,724,606
Parks, Recreation and Culture
3,8.14,887
2,580,454
Interest and fiscal charges
270,735
171,223
Total expenses
18,724,163
18,431,373
Change in net assets
3,813,399
(124,426).
Net assets - beginning of year
42,318,401
42,442,827
Net assets - end of year $
46,131,800 $
42,318,401
Expenditures were slightly higher (1.6%) this fiscal year as well. The increase is primarily due to
increased services to the community. This year there is a change in the categorization of some of the
expenditures. The expenditures for. Highways and Streets,
and Community Development have been
corrected this year. Previously most of the expenditures for Highways and Streets had been
erroneously categorized as Community Development and visa versa.
See independent auditors' report.
-7-
CITY OF DIAMOND BAIL
Management's Discussion and Analysis
(Continued)
June 30, 2005
Government-wide Financial Analysis (Continued)
General Government was higher this year due primarily to changes made in the City's Information
Technology Division. This Division has been responsible for-implementation of several new computer
systems this year.
The large increase in Parks, Recreation and Culture is mostly due to the Diamond Bar Center being
fully staffed and operated for the whole year.
Rising interest rates on the outstanding variable rate lease revenue bonds caused an increase in Interest
and Fiscal Charges.
Financial Analysis of the City's Funds
As noted earlier the City of Diamond Bar uses fund accounting to ensure and demonstrate compliance
with finance-related legal requirements.
Governmental funds. The focus of the City of Diamond Bar's governmental funds is to provide
information on near:-term inflows, outflows, and balances of spendable resources. Such information is
useful in assessing the City's financing requirements. In particular, unreserved fund balance may
serve as a useful measure of a City's net resources available for spending at the end of the fiscal year.
As of the end of the current fiscal year, the City of Diamond Bar's governmental funds reported
combined ending fund balances .of $32,433,946, an increase of $2,873,549 in comparison with the
prior year. There is $5,496,591 of the $32,433,946 reserved to liquidate contracts and purchase orders
outstanding at the end of the year.
The general fund is the chief operating fund of the City of Diamond Bar. At the end of the current
fiscal year, unreserved fund balance of the general fund was $24,809,721, while the total fund balance
reached $25,935,639. As a measure of the general fund's liquidity, it may be useful to compare both
unreserved fund balance and total fund balance to total fund expenditures:. Unreserved fund balance
represents 182.1% of total general fund expenditures, while total fund balance represents 190.4% of
the same amount.
See, independent auditors' report.
-8-
CITY OF DIAMOND BAR
Management's Discussion and Analysis
(Continued)
June 30, 2005
Financial Analysis of the City's Funds (Continued)
During the currentyear, the fund balance of the City of Diamond Bar's general fund increased by
$3,272,137. Since the City's incorporation, the City has been fiscally conservative. Other factors
contributing to this growth are as follows:
• Property, tax revenue increased due the unprecedented rise in property values within the
Southern California region and a favorable real estate market:
An increase in transient occupancy tax as a result of improved. travel business.
Sales tax increased as a result of a growing economy.
® There was a vast increase in the Motor. Vehicle in Lieu revenue as a result of the State's
payment of funds that had been withheld in prior years.
® Transit Taxes (Proposition A) were exchanged for General Fund money.
® There was an increase in building activity.
Investment revenue from higher interest rates and higher cash balances in the General Fund
contributed to the growth of the General Fund as well.
General Fund Budgetary Highlights
Original revenue budget projections were increased during the year by 5%. This increase is reflected
in the inter overnmental revenues. During
the
unrestricted cal year, lfunds. t was decided
The ober hanger the amount of
Proposition A transit funds to b g
to the General
Fund revenue estimates were as a result of the ever changing State revenue allocations.
During the yearthere was a $416,952 increase in appropriations . between the original and final
amended' budget. These budget amendments and supplemental appropriations were made during the
year to prevent budget overruns, and Some these exincrease penditures did not materialize n for unanticipated expenditures after
adoption of the original budget. Som p and as a result the
actual expenditures actually remained lower than the original budget.
.Capital Asset and Debt Administration
Capital assets The City of Diamond Bar's` investment in capital assets for its governmental activities
as of June 30, 2005 amounts to $23,729,680 (net of accumulated depreciation). This investment in
capital assets includes land, buildings and improvements, furniture and fixtures, vehicles and
equipment, some infrastructure and construction in progress. The total' "increase in the City's
investment in capital assets was 1.3% from the previous year. (Table 3)
See independent auditors' report.
-9-
CITY OF DIAMOND BAR
Management's Discussion and Analysis
(Continued)
June 30 200
Capital Asset and Debt Administration (Continued)
Capital assets (Continued)
At this time, the City has not valued its infrastructure and therefore only the infrastructure
improvements constructed since fiscal year 2002-2003 have been included at this time.
The increase in Furniture and Fixtures was due to the purchase of additional, furniture for the Diamond
Bar Center and the purchase of office equipment for newly hired staff.
The change in Vehicles and Equipment is a result of the activities of the Information Technoloo,
1.y
Division. During the year, this Division implemented several new programs that required additional
computer equipment. The City, also replaced two copiers which had been in use for twelve years.
Capitalized infrastructure increased due to the completion of two street related projects. The most
costly improvement was the completion of a traffic signal located on Grand Avenue and the Diamond
Bar Center. The other project completed during the year was the construction of a new ADA
accessible sidewalk on Golden Springs Road near the golf course.
Construction in progress at the end of the year included seventeen projects in various stages of
construction. There were four park improvement projects in progress totaling $344,403. There were a
variety of traffic signal improvements and parkway improvements either in the design, phase or under
construction at the end of the year. These projects totaled $370,902 at the end of the year. Theonly
street improvement project in progress at the end of the year was the Grand Avenue - Beautification
and Betterment project. This project is one of the, major projects to be completed in fiscal
year 2005-2006.
Table 3
City of Diamond Bar's
Capital Assets
(net of accumulated depreciation)
2005 2004 (Restated)
Land $ 5,252,465 5,252,465
Buildings and improvements 15,440,854 15,762,883
Furniture and fixtures 12t275 3,887
Vehicles and equipment 4138,4120, 391,8421,
Infrastructure 1,686,888 1,275,166
Construction in progress 898,778 736,081
$ 23,729,680 $ 23,422,324
Additional information on the City's capital assets can be found in note 4.
See independent auditors' report.
-10-
CITY OF DIAMOND BAR
Management's Discussion and Analysis
(Continued)
June 30, 2005
Capital Asset and Debt Administration (Continued)
Long-term debt — At the end of the current fiscal year, the City of Diamond Bar's total long-term debt
equaled $13,876,861. The following table shows the breakdown of the debt outstanding.
Table 4
City of Diamond Bar's
Outstanding Long Term Debt at Year-end
Variable Rate Lease Revenue Bonds
(backed by the Public Financing
Authority) $ 13,755,000
Unamoritzed discount (128,380)
Compensated absences (backed by the
City) 250,241
$ 13,876,861
Additional information on the City's long-term debt can be found in note 5.
Economic Factors and Next Year's Budgets and Rates
While the City maintains a diverse and upscale housing stock, the City's economy is equally dependent
on commercial and retail. revenues. The City's concentration on maintaining and. attracting new
businesses is of utmost importance:
The City's 2005-2006 budget is a fiscally conservative budget. Anticipated revenues and expenditures
in the General Fund have increased by approximately 5% which is a reflection of the cost of living
increases in the region. The City has made a conscientious decision to use some general fund balance
reserves for economic development purposes. As a result, the fiscal year 2005-2006 budget includes
an appropriation for economic development. It is anticipated that these efforts will continue to be
rewarded in the near future with the development of new retail spaces:
-Contacting the City's Financial Management
This financial report is designed to provide our citizens,` taxpayers, customers, and creditors. with a
general overview of the City of Diamond Bar's finances and to show the City's accountability for the
money it receives. If you, have questions about this report or need additional financial information,
contact the City's Finance Department, at the City of Diamond Bar, 21825 Copley Drive,
Diamond Bar; California 91765.
See independent auditors' report.
-11-
CITY OF DIAMOND BAR
STATEMENT OF NET ASSETS
June 30, 2005
Governmental
Activities
ASSETS.
Cash and investments(Note 2)
$ 34,018,170
Accounts receivable
406,723
Interest receivable
235,183
Due from other governments
3,778,630
Notes receivable
94,160
Unamortized issuance costs
589,634
Restricted assets:
Cash and investments with fiscal agents (Note 2)
425,390
Capital assets, not depreciated (Note 4)
6,151,243
Capital assets, depreciated, net (Note 4)
17,578 437
-TOTAL ASSETS
63,277,570 .
LIABILITIES:
Accounts payable
1,806,367
Accrued payroll _
138,713
Interest payable
28,663
Deposits payable
1,026,460
Retentions payable
56,594
Advance from other governments
212,112
Noncurrent liabilities (Note 5):
Due within one year
318,414
Due in more than one year
13,558,447
TOTAL LIABILITIES
17,145,770
NET ASSETS:
_ Invested in capital assets, net of related debt
10' 1 03,060
Restricted for:
Debt service
1835,397
Capital projects
3,775,552
Other purposes
1,398,057
Unrestricted
30,019,734
TOTAL NET ASSETS
$ : 46,131,800
See independent auditors' report and notes to basic financial' statements.
- _15
Net (Expense)
Revenue and
Changes in
'
Program Revenues
Net Assets
Charges Operating Capital.
for Grants and Grants and
Governmental
Functions/programs
Expenses
Services Contributions Contributions
Activities
Governmental activities:
General government
$ 3,997,319
$ 486,925 $ 8,714 $ -
$ (3,501,680)
Public safety
4,969,183
1,159,264 171,191 -
(3,638,728)
Highways and streets
4,622,014
1,328,637 2,956,747 . -
(336,630)
Community development
1,050,025
7,888 609,338 - `
(432,799)
.Parks, recreation
and culture
3,814,887
1,147,088 294,795 -
(2,373,004)
Interest on long-term debt
270,735
- - -
(270,735)
Total governmental
activities
$ 18,724,163
$ 4,129,802 $ 4,040,785 $ -
(10,553,576)
General revenues:
Taxes:
Property taxes
3,155,723
Transient occupancy taxes
717,879
Sales taxes
2,645,096
Property taxes in lieu of sales taxes
863,245
Franchise taxes
941,319
Motor vehicle in lieu
4,386,800
Property transfer tax
413,247
Other taxes
35,283
Investment income
532,091
Other revenue
676,292
Total general revenues
14,366,975
Change in net assets
3,813,399
NET ASSETS - BEGINNING OF YEAR,
AS RESTATED (NOTE 12)
42,318,401
NET ASSETS - END OF YEAR
$ 46,131,800
See independent auditors' report and notes to basic financial statements.
-16-
GOVERNMENTAL FUNDS
GENERAL FUND
The General Fund has been classified as a major fund and is used to account for resources traditionally
associated with government, which are not legally or by sound financial management to be accounted
for in another fund.
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for the proceeds of specific revenue sources .that are
restricted by law or administrative action for a specified purpose. The following Special. Revenue
Funds have been classified as major funds in the accompanying financial statements:
Proposition A Transit Fund - This fund is used to account for the receipt and expenditure of the City's
share of the �/z cent sales tax levied in Los Angeles County for local transit purposes.
The Intermodal Surface Transportation Enhancement Act (ISTEA) Fund - This. fund is used to account
for transport related receipts and expenditures.
CAPITAL PROJECTS FUND
The Capital Projects Fund is used to account for the acquisition and construction of major capital
facilities. The following Capital Projects Fund has been classified as major funds in the accompanying
financial statements:.
Capital Improvement -Fund -.This fund is used 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.
_17
CITY OF DIAMOND BAR
BALANCE SHEET
GOVERNMENTAL FUNDS
June 30, 2005
Special Revenue Funds
General
Prop A Transit
. ISTEA
Fund
Fund
Fund
ASSETS.
ASSETS:
Cash and investments. $
24,873,457
$ 1,457,435
$ -
Cash and investments with fiscal agent
-
-
Accounts receivable
153,855;
-
-
Interest receivable
234,117
-
Due from other funds (Note 3)
720,732
-
-
Due from other governments
2,470,531
-
559,870
Notes receivable
TOTAL ASSETS $
28,452,692
$ 1,457,435
$ 559,870
LIABILITIES AND FUND BALANCES
LIABILITIES:
Accounts payable $
803,837
$ 538,033
$ -
Accrued payroll
137,284
466
-
Deposits payable
1,026,460
-
-
Due to other funds (Note 3)
-
-
559,870
Deferred revenue
431,520
-
559,870
Retentions payable
Advance from other governments
117,952
-
-
TOTAL LIABILITIES
2,517,053
538,499
1,119,740
_FUND BALANCES (DEFICITS):
Reserved for:
Encumbrances
431,055
11,215
-
Improvements
2,207
Bond retirement
692,656
-
-
Notes receivable
Unreserved, Reported in:
General Fund
24,809,721
-
-
Special Revenue Funds
-
907,721
(559,870)
Debt Service Fund
Capital Projects Funds
TOTAL FUND BALANCES (DEFICITS)
25,935,639
918,936
(559,870)
TOTAL LIABILITIES AND FUND BALANCES $
28,452,692
$ 1,457,435
$ . 559,870
See independent auditors' report and notes to. basic financial statements.
Capital
Projects Fund
Other
Total
Capital
Governmental
Governmental
Improvement.
Funds
Funds
$ -
$ 5,920,318
$ 32,251,210
_
425,390
425,390
_
45,244
199,099
1,066
235,183
636,681
-
1,357,413
437,072
311,157
3,778,630
_
94,160
94,160 '
$ 1,073,753
$ 6,797,335
$ 38,341;085
$ 298,647
$ 165,850
$ 1,806,367
963
138,713
_
1,026,460
709,688
87,855
1,357,413
185,095
132,995
1,309,480
56,594
-
56,594
_
94,160
212,112
1,250,024
481,823
5,907,139
5,022,776
31,545
5,496,591
396,292
_
398,499
-
692,656
_
94,160
94,160
r
-
24,809,721
-
5,763,351.
6,111,202
_
274,426
274,426
(5,595,339)
152,030
(5,443,309)
(176,271)
6,315,512
32,433,946
$ 1,073,753
$ 6,797,335
$ 38,341,085
e
-19-
CITY OF DIAMOND BAR
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET
TO THE STATEMENT OF NET ASSETS
June 30, 2005
Fund balances for governmental funds
$ 32,433,946
Amounts reported for governmental activities in the Statement of Net Assets are different because:
Capital assets, net of depreciation, have not been included as financial resources
in governmental fund activity.
23,715,291
Long-term liabilities applicable to the City governmental activities are not due and
payable in the current period and accordingly are not reported as fund liabilities. Also,
bond issuance costs do not provide current financial resources and are not reported
in the governmental funds. All liabilities, both current and long-term, are reported in
the Statement of Net Assets. Balances at June 30, 2005, are:
Bonds payable
$ (13,755,000)
Deferred charges for issuance costs
589,634
Bond discount
128,380
Compensated absences
(250,241) (13,287,227)
Accrued interest payable from the current portion of interest due on bonds payable
has not been reported in the governmental funds:
(28,663)
Long-term assets that are not available for current use. Amounts are recorded
as deferred revenue under the modified accrual basis of accounting.
1,309,480 .
Internal service funds are used by management to charge the costs of certain activities,
such as equipment management, to individual funds. The assets and liabilities of
the internal service funds must be added to the statement of net assets.
1,988,973
Net assets of governmental activities
$ 46,131,800
See independent auditors' report and notes to basic financialstatements.
-21-
CITY OF DIAMOND BAR
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
For the year ended June 30, 2005
Special Revenue Funds
General
Prop A Transit
ISTEA
Fund
Fund
Fund
REVENUES:
Taxes $
8,632,837
Special assessments
-
-
intergovernmental revenues
4,823,265
859,748
-
Charges for services
-
554,340
-
Fines and forfeitures
713,201
-
-
Licenses, permits and fees
1,732,555
-
-
Investment income
484,857
30,242
-
Other revenues
480,740
-
TOTAL REVENUES
16,867,455
1,444,330
-
EXPENDITURES:
Current:
General government
3,785,940
-
-
Public safety
4,906,999
-
-
Highway and streets
1,716,917
1,980,638
Parks, recreation and culture
2,750,815
_
Community development
464,073
-
-
Capital outlay
_
Debt service:
Interest and fiscal charges
-
-
-
TOTAL EXPENDITURES
13,624,744
1,980,638
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
3,242,711
(536,308)
-
OTHER FINANCING SOURCES (USES):
Transfers in
1,090,264
-
-
Transfers out
(1,060,838)
TOTAL OTHER FINANCING SOURCES (USES)
29,426
-
-
NET CHANGE IN FUND BALANCES
3,272,137
(536,308)
-
FUND BALANCES (DEFICITS) - BEGINNING OF YEAR
22,663,502
1,455,244
(559,870)
FUND BALANCES (DEFICITS) - END OF YEAR $
25,935,639
$ 918,936
$ (559,870)
See independent auditors' report and notes to basic financial statements.
- -22-
Capital
Projects Fund
Other
Total
Capital
Governmental
Governmental
Improvement
Funds
Funds
$ _
$ -
$ 8,632,837.
-
593,778
593,778 .
251,976
2,371,568
8,306,557
_
206,700
761,040
713,201
-
1,732,555
_
1.38,967
654,066
_
-
480,740
251,976
3,311,013
21,874,774
_
1,065
3,787,005
47,631
4,954,630
-
603,591
4,301,146
_
2,750,815
585,952
1,050,025
1,682,830
1,682,830
237,487
237,487
1,682,830
1,475,726
18,763,938
(1,430,854)
1,835,287
3,110,836
1,273,103
_
2,363,367
-
(1;539,816)
(2,600,654) `
1,273,103
(1,539,816)
(237,287)
(157,751)
295,471
2,873,549
(18,520)
6,020,041
29,560,397
$ (176,271)
$ 6,315,512
$ 32,433,946
-23-
CITY OF DIAMOND BAR
RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF
REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
TO THE STATEMENT OF ACTIVITIES
For the year ended June 30, 2005
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances - total governmental funds
$ 2,873,549
Governmental funds report capital outlays as expenditures. However,
in the statement of activities, the cost of those assets is allocated over
the estimated useful lives as depreciation expense. This is the amount`
by which depreciation exceeded capital expense in the current period:
Capital expenditures
$ 1,554,286
Depreciation expense
(1,229,790) 324,496
The issuance of long term debt provides current financial resources to
governmental funds, while the repayment of the principal of long-term
debt consumes the current financial resources of governmental funds.
Neither transaction, however, has any effect on net assets. Also,
governmental funds report the effect of issuance costs, premiums,
discounts and similar items when the debt is first issued, whereas
these amounts are deferred and amortized in the Statement of Activities,
These amounts are the net effect of these differences in the treatment
of long-term debt and related items:
Amortization of bond discount
(4,585)
Amortization of issuance costs
(21,058)
Compensated absences
(34,710) (60,353)
Some expenses reported in the statement of activities do not require the
use of current financial resources and therefore are not reported as
expenditures in the governmental funds:
Interest expense
(28,663)
Some revenues reported in the statement of activities are not considered
to be available to finance current expenditures and therefore are not
reported as revenues in the governmental funds
577,793
Internal service funds are used by management to charge the costs of
certain activities, such as equipment management, to individual funds.
The net revenues (expenses) of the internal service funds is reported
- with governmental activities.
126,577
Change in net assets of governmental activities
$ 3,813,399
See independent auditors' report and notes to basic financial statements.
_24-
CTT'Y OF DIAMOND BAR
STATEMENT OF NET ASSETS
PROPRIETARY FUNDS
June 30, 2005
Internal
Service
Funds
ASSETS
CURRENT ASSETS: .
Cash and investments
$ 1,766,960
Accounts receivable
207,624
. TOTAL CURRENT ASSETS
1,974,584
NONCURRENT ASSETS:
Capital assets:
Machinery and equipment
97,278
Less accumulated depreciation
(82,889)
TOTAL NONCURRENT ASSETS
14,389 '
TOTAL ASSETS
1,988,973
NET ASSETS
Invested in capital assets, net of related debt
14,389
Unrestricted
1;974,584
TOTAL NET ASSETS
$ . 1,988,973. .
See independent auditors' report and notes to basic financial statements.
-25-
'
CITY OF DIAMOND BAR
STATEMENT OF REVENUES,. EXPENSES AND CHANGES IN NET ASSETS
PROPRIETARY FUNDS
For the year ended June 30, 2005
Internal
Service
Funds
OPERATING REVENUES:
Insurance deposits
$ 48,148
TOTAL OPERATING REVENUES
48,148
OPERATING EXPENSES:
Insurance premiums
174,837
Depreciation _
20,868
TOTAL OPERATING EXPENSES
195,705
OPERATING LOSS
(147,557)
NONOPERATING REVENUES:
Gain on disposal of capital asset
3,728
Investment income
33,119
TOTAL NONOPERATING REVENUES
36,847
LOSS BEFORE TRANSFERS
(110,710)
TRANSFERS IN
237,287
CHANGE IN NET ASSETS
126,577
TOTAL NET ASSETS - BEGINNING OF YEAR
1,862,396
TOTAL NET ASSETS - END OF YEAR
$ 1,988,973
See independent auditors' report and notes to basic financial statements.
P P
-26-
CITY OF DIAMOND BAR
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
For the year ended June 30, 2005
Internal
Service
'
Funds
CASH FLOWS FROM OPERATING ACTIVITIES:
Insurance payments
$ (174,837)
Cash paid for operating expenses
(4,062)
NET CASH USED BY OPERATING ACTIVITIES
(178,899)
CASHFROM FINANCING ACTIVITIES:
FLOWSransfers
other udONCAPTTAL
237,287
NET CASH PROVIDED BY NONCAPITAL FINANCING ACTIVITIES
237,287
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment income
33,120
NET CASH PROVIDED BY INVESTING ACTIVITIES
33,120
NET INCREASE IN CASH AND CASH EQUIVALENTS
91,508
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR
1,675,452
CASH AND CASH EQUIVALENTS - END OF YEAR
$ 1,766,960
RECONCILIATION OF OPERATING LOSS TO
NET CASH USED BY OPERATING ACTIVITIES:
Operating loss
$ (147,557)
Adjustments to reconcile operating loss to
net cash used by operating activities:
Depreciation
20,868
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivables
(48,148)
Increase (decrease) in accounts payable
(666)
Increase (decrease) in due to other funds
(3,396)
TOTAL ADJUSTMENTS -
- (31,342)
NET CASH USED BY OPERATING ACTIVITIES
$ (178,899)
See independent auditors' report and notes to basic financial statements.
-27-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2005
1. REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES:
a. Description of Reporting Entity:
The City of Diamond Bar (the City) was incorporated April 18, 1989 as a "General Law" City
governed by an elected five -member city council. As required by accounting principles
generally accepted in the United States of America, these financial statements present the City
of Diamond Bar (the primary government) and its component units. The component units
discussed below are included in the City's reporting entity because of the significance of their
operational or financial relationship with the City. These entities are legally separate from each
other. However, the City of Diamond Bar's elected officials have a continuing full or partial
accountability for fiscal matters of the other entities. The financial reporting entity consists of:
(1) the City (2) organizations for which the City is financially accountable; and,
(3) organizations for which the nature and significance of their relationship with the City are
such that exclusion would cause the City's financial statements to be misleading or incomplete.
An organization is fiscally dependent on the primary government if it is unable to adopt its
budget, levy taxes or set rates or charges, or issue bonded debt without approval by the primary
government. In a blended presentation, a component unit's balances and transactions are
reported in a manner similar to the balances and transactions of the City. Component units are
presented on a blended basis when the component unit's governing body is substantially the
same as the City's or the component unit provides services almost entirely to the City.
Blended Component Units:
The Diamond Bar Community Redevelopment Agency (the Agency) was established
February 6, 1996, pursuant to the State of California Health and Safety Code, Section 33000,
entitled "Community Redevelopment Law". Although it is a legally separate entity from the
City, the Agency is reported as if it were part of the City because of its purpose to prepare and
execute plans for improvement, rehabilitation and redevelopment of blighted areas within the
territorial limits of the City. According to the California Supreme Court's decision on
August 9, 2000, the Agency's Redevelopment Plan was deemed invalid: No activities occurred
during the year ended June 30, 2005. Accordingly, no financial statements of the Agency were
issued.
The Diamond Bar Public Financing Authority (the Authority) was formed on
November 19, 2002. The purpose of the Authority is to issue debt to finance public
improvements and. other capital purchases for the City and Agency. The activity. of the
Authority is reported in a debt service fund.
See independent auditors' report.
-28-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
1. REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):
b. Government -Wide and Fund Financial Statements:
g •' t'on on all of the nonfiduci assets and the statement of
The government -wide financial statements i.e., the statement of net
changes in net assets report information. ary activities of the City. For
the most part;` the effect of interfundactivity has been removed from these statements.
Governmental activities, which normally are supported by taxes and intergovernmental
revenues, are reported separately from business --type activities, which rely' to a significant
extent on fees and charges for support. The City has no business -type activities.
The statement of activities demonstrates the degree to which the direct expenses of a given
function or segment are offset by program revenues. Direct expenses are those that are clearly
re
segment. Program revenues include .1) charges to
usto ns : orvllfapplicantswho purchase,' use, or directly benefit from. goods, services, or
th a P.
privileges provided by a given function or segment and 2) grants and contributions that are
restricted to meeting the operational or capital requirements of a particular function or segmenta
Taxes and other items not properly included among program revenues are reported instead as
general revenues.
Separate financial statements are provided for governmental funds and proprietary funds. Major
individual governmental funds are reported as separate columns in the fund financial
statements:
C. Measurement Focus, Basis of Accounting,' and Financial Statement Presentation:
The basic financial statements of the City are composed of the following:
® Government -wide financial statements
d Fund financial statements
® Notes to the basic financial statements
Financial reporting for the government -wide financial statements is based upon all GASB
pronouncements, as well as the FASB Statements and Interpretations,' APB Opinions, and
Accounting Research Bulletins that were issued on or before November 30, 1989 that do not
conflict with or contradict, GASB pronouncements. FASB pronouncements issued after
November 30, 1989 are not followed in preparation of the accompanying financial statements.
See independent auditors' report:
29-
_
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
L REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):
c. Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued):
The government -wide financial statements and proprietary. fund financial statements are
reported using the economic resources measurement focus and the accrual basis of accounting.
Under the economic resources measurement focus, all assets and liabilities, (current and
long-term) are. reported. Under the accrual basis of accounting, revenues are recorded when
earned and expenses are recorded when a liability is incurred, regardless of the timing of
related cash flows. Property taxes are recognized as revenues in the fiscal year, which the taxes
are levied. Revenue from grants, entitlements, and donations is recognized in the fiscal year in
which all the eligibility requirements imposed by the provider have been met.
Proprietary funds distinguish operating revenues and expenses from nonoperating items.
Operating revenues and expenses generally result from providing services and producing and
delivering goods in connection with a proprietary fund's principal ongoing operations. The
principal operating revenues of the City's internal service funds are charges to customers for
services. Operating . expenses for the proprietary funds include the cost of services,
administrative expenses, and depreciation on capital assets. All revenues, and expenses not
meeting this definition are reported as nonoperating revenues and expenses.
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Under the current financial
resources measurement focus, generally only current assets and liabilities are reported in the
governmental funds. Governmental fund operating statements present increases (revenues and
other financing sources) and decreases (expenditures and other financing uses) in net current
assets. Under. the modified accrual basis of accounting, revenues are recognized as soon as
they are both measurable and available. Revenues are considered to be available when they are
collectible within the current period or soon enough thereafter to pay liabilities of the current
period. For this purpose, the government considers revenues to be available if they are collected
within 60 days of the end of the current fiscal period. Expenditures generally are recorded when
a liability is incurred, except for principal and interest on general long-term liabilities, claims
and judgments, and compensated absences which are recognized as expenditures only when
payment is due:
See independent auditors' report.
-30-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
1. REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):
c. Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued):
Property taxes, taxpayer -assessed taxes, such as sales taxes, gas taxes, and transient occupancy
taxes, and interest associated with the current fiscal period are all considered to be susceptible
to accrual and so have been recognized as revenues of the current fiscalperiod. Only the
portion of special assessments receivable due within the current fiscal period is considered to
be susceptible to accrual as revenue of the, current period. All other. revenue items are
considered to be measurable and available only when cash is received by the government.
The accounts of the City are organized and operated on the basis of funds, each of which is
considered a separate accounting entity with a self -balancing set of accounts, established for the
purpose of carrying on specific activities or attaining certain objectives in accordance with
special regulations, restrictions or limitations.
When both restricted and unrestricted. resources are combined in a fund, expenses are
considered to be paid first from restricted resources, and then from unrestricted resources.
d. Fund Classifications:
The City reports the following major governmental funds:
The General Fund is the primary operating fund of the City and is used to account for all
revenues and expenditures of . the City not legally restricted as to use. A broad range of
municipal activities. are provided through this fund including City Manager, City Attorney,
Finance, City Clerk, Public Works, Building and Safety, and Parks and Recreation.
This fund is used to account for the receipt and
Proposition A Transit Special' Revenue Fund
expenditure of the City's share of the 1/z cent` sales tax levied in Los Angeles County for local
transit purposes.
The Intermodal' Surface 'Transportation Enhancement Act (ISTEA) Special Revenue Fund
This fund is used to account for transport related receipts and expenditures.
{ The Capital Improvement Capital Proiects Fundis used 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:
See independent auditors' report.
1. REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTRITUED):
d. Fund Classifications (Continued):
The City's fund structure also includes the following fund types:
GOVERNMENTAL FUNDS
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are
restricted by law or administrative action for a specified purpose.
Debt Service Fund is used primarily to account for the accumulation of resources for the
payment of principal and interest on long-term liabilities of the City.
Capital Projects Funds are used to account for financial resources to be used for the acquisition
or construction of major capital facilities (other than those financed by Special Revenue
Funds).
PROPRIETARY FUNDS
Internal Service Funds have been established to finance and account for goods and services
provided by one City department to other City departments or agencies.
e. Investments:
For financial reporting purposes, investments are. stated 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, except for assets held by fiscal agents. 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 balances.
See independent auditors' report.
32
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
1. REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):
f. Cash and Cash Equivalents:
For ` purposes of the 'statement of cash flows, cash and 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 (an original maturity date of three months or less from the date of
purchase) that they present insignificant°risk of changes in value because of changes in interest
rates. Cash and cash equivalents also represent the proprietary funds' share in the cash and
investment pool of the City. All cash and investments of the proprietary (internal service) funds
are pooled with the City's pooledcash and investments and are therefore considered cash
equivalents for purposes of the statement of cash flows.
g. Capital Assets:
Capital assets (including infrastructure) are recorded at cost where historical records are
available and at an estimated original cost where no historical` records exist. Contributed
capital assets are valued at their estimated fair market value at the date of contribution. Capital
asset purchases (other than infrastructure) in excess of $1,500 are capitalized if they have an
expected useful life of three years or more:
Capital assets include additions to public- domain (infrastructure), certain improvements
including roads, 'streets, sidewalks, medians and storm drains within the City; ; Public domain
assets` acquired prior, to July 1, 2002 have not been included in the accompanying financial
statements. The City expects to value and record all infrastructure :asset data in its entirety by
the fiscal year. ending June 30, 2007.
CaPital assets used ino
erations`are depreciated. ovtheir
esefullives using the
straight-line method in the Government-wideProprietary
d.dPrpiary�Fund useful
Statements.
Depreciation is charged as an expense against operations and accumulated; depreciation is
reported on the respective balance sheet. The lives used for depreciation purposes of each
capital asset class are:
Buildings and improvements 10 - 20 years
Furniture and fixtures 3 - 5 years
Vehicles and equipment S years
Infrastructure 10 50 years
See independent auditors' report:
-33-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
1. REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):
h. 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.
i. Compensated Absences:
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.
A liability is recorded for unused vacation and similar compensatory leave balances since the
employees' entitlement to these balances are attributable to services already rendered and it is
probable that virtually all of these balances will be liquidated by either, paid time off or
payments upon termination or retirement.
A liability is recorded for unused sick leave balances only to the extent that it's probable that
the unused balances will result in termination payments., This is estimated by including in the
liability the unused balances of employees currently entitled to receive termination payments,
as well as those who are expected to become eligible to receive termination benefits as a result
of continuing their employment with the City.
If an employee terminates with a minimum of one year.of service, the employee is entitled to
receive 10% of the value of his unused sick leave. The percentage increases to 50% for two to
three years of service and 100% of the value of his unused sick leave upon the completion of
more than three years of continuous employment.
See independent auditors' report.
_34-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL: STATEMENTS
(CONTINUED)
June 30, 2005 .
1. REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):
�. Property Taxes:
Under California law, property taxes are assessed and collected by the counties up to:1% of
assessed value, plus other increases approved by the voters. The property taxes go into a pool,
and are then allocated to the cities based on complex formulas. Accordingly; the City accrues
only -those taxes which are received from the County within 60 days after year end.
Property taxes are assessed and collected each fiscal year according to the
following_ property
tax calendar:
Lien date January 1
Levy date July 1
Due dates November 1 - lst. installment .
February 1 - 2' installment
Collection dates December 10 lst installment,
April 10 - 2nd installment
Delinquentdates December 11 - lst installment
April 11 - 2°d installment
k. Use of Estimates:
The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosure of.
contingent assets and liabilities at the date of the financial statements and the. reported amounts
of revenues and expenditures during the reporting period. Actual results could differ from
those estimates.
I.
See independent auditors' report.
-35-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED):
June 30, 2005
2. CASH AND INVESTMENTS:
Cash and Investments:
Cash and investments at June 30, 2005 consisted of the following:
Statement of Net Assets:
Cash and investments
$ 34,018,170
Cash and investments with fiscal agents
425,390
$ 34;443,560
Cash and investments held by the City at June 30, 2005 consisted of
the following:
Imprest cash on hand
$ 700
Demand deposits (overdraft)
(226,326)
Cash held by Bond Trustee
263,663
Local Agency Investment Fund
34,243,797
Investments held by Bond Trustee:
Money Market Mutual Funds
11,418
Local Agency Investment Fund -
150,308
$ 34,443,560
See independent auditors' report.
-36-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
2. CASH AND INVESTMENTS (CONTINUED):
Investment Authorized by the California Government Code and the City's Investment Policy:
The table below identifies the investment types that are authorized for the City by the California
Government Code (or the City's investment policy, where more restrictive). The table also
identifies certain provisions of the California Government Code (or, the City's investment policy,
where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk.
This table does not address investments of debt proceeds held by bond trustee that are governed by
the provisions of debt agreements of the City, rather than the general provisions of .the California
Government Code or the City's investment policy.
Maximum Maximum
Maximum. Percentage Investment
Authorized Investment Type Maturity. of Portfolio* in One Issuer
United States (U.S.) Treasury Obligations 5 years None None
U.S. Government Sponsored
ears 20% None
Enterprise Securities 5 y
Banker's Acceptances 180 days 40% 30%
Time Certificate of Deposits 5 years None None
Commercial Paper 270 days 25% 10%
Negotiable Certificates of Deposit 5 years 30% None
Money Market Mutual Funds N/A 15% None
Repurchase Agreements 1' year None None
Medium -Term Corporate Notes (1) 5 years 30% None
Local, Agency Investment Fund (LAIF) N/A None $ 40,000,000
* -Excluding amounts held by bond trustee that are not subject to California Government Code
restrictions.
(1) Notes must be rated "A" or better.
N/A - Not Applicable
See"independent auditors' report: ,
37
Investments Authorized by Debt Agreements:
Investments of debt proceeds held by bond trustee are governed by provisions of the debt
agreements, rather than the general provisions of the California Government Code or the City's
investment policy. The table below identifies the investment types that are authorized for
investments held by bond trustee. The table also identifies certain provisions of these debt
agreements that address interest rate risk, credit risk, and concentration of credit risk.
Maximum
Percentage/ Maximum
Maximum Amount Investment
Authorized Investment Type Maturity Allowed in One Issuer
U.S. Treasury Obligations None None None
U.S. Government Sponsored
Enterprise Securities
None 10% None
Banker's Acceptances
1 year None None
Time Certificate of Deposits
None None None
Local Agency Investment Fund
None None None
Money Market Funds
None None None
Repurchase Obligations
Tax Exempt
30 days None None
Taxable Government Money
Market Portfolios
None Equal to six None
months of
principal and
interest on
the bonds
Disclosures Relating to Interest Rate Risk:
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value
of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of
its fair value to changes in market interest rates. One of the ways that the City manages its
exposure to interest rate risk is by purchasing.
a combination of shorter term and longer term
investments and by timing cash flows from maturities so that a portion of the portfolio is maturing
or coming close to maturity evenly over. time as
necessary to provide the cash flow and liquidity
needed for operations.
See independent auditors' report.
-38-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
2. CASH AND INVESTMENTS (CONTINUED):
Disclosures Relating to Custodial Credit Risk:
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial
institution, a government will not be able to recover its. deposits or will not, be able to recover
collateral securities that are in the possession of an outside party.. The custodial credit. risk for
investments is the risk that, in the event of the failure of the counterparty (e.g., broker-dealer) to a
transaction, a government will not be able to recover the value of its investment or collateral
securities that are in the possession of another party. The California Government Code, and the
City's investment policy do not contain legal or policy requirements that would limit the exposure
to custodial credit risk for deposits or investments, other than the following provision for deposits:
The California Government.Code requires that a financial institution secure deposits made by state
or local governmental units by pledging securities in an undivided collateral pool held by a
depository regulated under state law (unless so waived by the governmental unit). 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. The City does not accept 150% of the secured public totals. At June 30, 2005, the City
deposits (bank balances) were insured by the Federal Depository Insurance Corporation up to
$100,000 and the remaining balance of the deposits of $507,310 were collateralized 'under
California Law. The difference between the bank balances and deposits represent deposits in
transit and outstanding checks.
Investment in State Investment Pool:
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) 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 provided by
LAIF for 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.
See independent auditors' report.
-40-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTIl�TUED)
June 30, 2005
3. INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS:
The composition of interfund balances as of June 30, 2005, is as follows:
Due To/From Other Funds:
-Receivable Fund Payable Fund Amount
General Fund Capital Improvement Fund 709,688
Other Governmental Funds 11,044
Capital Improvement Fund ISTEA Fund 559,870
Other Governmental. Funds 76,811
$ 1.357,413
The amounts loaned from the General Fund to the Capital Improvement Fund and Other
Governmental Funds are to provide a short-term loan to fund temporary cash shortfalls.
The amount loaned for the Capitalp Governmental
IiiZ rovement Fund to the ISTEA Fund and Other.
Funds are to provide a short-term loan to fund construction project expenditures.
Interfund Transfers:
Transfers In Transfers Out Amount '
General Fund Other Governmental Funds $ 1,090,264
Capital Improvement Fund General Fund Other Governmental F 823,551
Funds 449,552
Internal Service Funds General Fund 237,287
$ 2,600,654
Transfers from the General Fund to the Other Governmental Funds were made to reimburse the
various capital projects.
Transfers to the Capital Improvement Fund from (1) the General Fund, were made to provide
capital projects funds with the funding necessary to accomplish those projects approved by the City
Council; from (2) the Other Governmental Funds to transfer the funding for reimbursement of
various capital projects.
See independent auditors'. report.
-41
June 30; 2005
4. CAPITALASSETS:
A summary of changes in the Governmental Activities capital assets at June 30, 2005 is as follows:
Balance at
July 1, 2004
(Restated
Balance at
Note 13)
Additions
Deletions
June 30, 2005
Capital assets, not being depreciated: -
Land
$ 5,252,465
$ -
$ -
$ 5,252,465
Construction in progress
736,081
632,893
(470,196)
898,778
Total capital assets,
not being depreciated
5,988,546
632,893
(470,196)
6,151,243
Capital assets, being depreciated:
Building and improvements
18,49.3,158
752,148 .
-
19,245,306
Furniture and fixtures
62,963
10,284
(2,008)
71,239
Vehicles and equipment
1,088,394
151,958
(19,650)
1,220,702
Infrastructures
1,302,500
477,198
-
1,779,698
Total capital assets
being depreciated
20,947,015,
1,391,588
(21,658)
22,316,945
Less accumulated depreciation for:
Building and improvements
(2,730,275)
(1,074,177)
-
(3,804,452)
Furniture and fixtures
(59,076)
(1,896)
.2,008
(58,964)
Vehicles and equipment
(696,552)
(109,109)
23,379
(782,282)
Infrastructures
(27,334)
(65,476)
-
(92,810)
Total accumulated depreciation
(3,513,237)
(1,250,658)
25,387
(4,738,508)
Total capital assets
being depreciated, net
17,433,778
140,930
3,729
17,578,437
Total Governmental Activities
capital assets, net
$ 23.422;324
$ 773,8Q
$ (466.467)
$ 23.729,680
Depreciation expense was charged
to functions in the
Statement of Activities as follows:.
General government
$ 75,277
Public safety.
14,553
Highways and streets `
76,194
Parks, recreation and culture
1,084,634
$ 1.250.658
See independent auditors' report.
-
-42-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
5. LONG-TERM LIABILITIES:
Long-term liability activity for the year ended June 30, 2005; was as follows:
BeginningEnding Due Within
Balance Additions Retirements Balance One Year
Bonds payable:
Revenue bonds $13,755,000 $ - $ - $13,755,000 $ 235,000
Unamortized discount (132,965) 4,585 (128,380)` -
Compensated absences 215,531 160,647 (125,937) 250,241 83,414
Total $13,837366 160647 $ (121,352) . $13.876.861" $ 318,414
Bonds Payable:
In December 2002,` the Diamond Bar Public Financing Authority issued $139755,000 of
2002 Series A Variable Rate Lease Revenue Bonds to finance the construction of a
community/senior center project and other public improvements within the City. The bonds are
special limited obligations of the Authority payable solely from revenues, consisting primarily of
base rental payments paid by the City. The City purchased a 10 year 4.5% interest rate cap. After
ten years, the interest rate will be set at the market rate. As of June 30, 2005, $13,755,000 of the
bonds are outstanding.
The following schedule summarizes the debt service to maturity requirements (using an interest
g 30, 2005:
-,rate of 2.4% for overnmental activities bonds outstanding as of June
Year Ending
June 30, Principal Interest Total
2006 $ 235,000 $ 324,480 $ 559.,480
2007 240,000 318,720 558,720
2008 255,000 312,600 567,6.00
2009 265,000 306,240 571,240
2010 280,000 299,520 579,520
2011 2015 1;600;000 1;386,000; 2,986,000
2016-2020 2,010,000 1,165,320' 3,175;320
2021-2025 2,535,000 887;520 31422,520
'2026-2030 3,195,000 537,360 3,732;360
'2031.- 2034 3,140;000 117,480 3,257,480
Totals $ 13.755.000 $ '5,655,240 $ 19.410.240
See independent auditors'- report.
_43-
Compensated Absences:
The City's policies relating to compensated absences are described. in Note 1. This liability,
amounting to $250,241 at June 30, 2005 is expected to be paid in future years from future
resources, typically liquidated from the General Fund.
6. LIABILITY, PROPERTY AND WORKERS' COMPENSATION PROTECTION:
The City is a member of the California Joint Powers Insurance Authority (Authority). The
Authority is composed of 91 California public entities and is, organized under a joint powers
agreement pursuant to California Government Code Section 6500 et seq. The purpose of the
Authority is to arrange and administer programs for the pooling of self-insured losses, to purchase
excess insurance or reinsurance, and to arrange for group -purchased insurance for property and
other coverages. The Authority's pool began covering claims of its members in 1978. Each
member government has an elected off'ici'al as its representative on the Board of Directors. The
Board operates through a 9 -member Executive Committee.
a. 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 $30,000 of each occurrence is charged directly to the City; costs from $30,001 to
$750,000 are pooled based on a member's share of costs under $30,000; costs from $750,001 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 $2,000,000 per claim are pooled
based on payroll. Costs between $2,000,000 and $5,000,000 are paid by excess insurance
purchased by the Authority. Costs in excess of $5,000,000 are pooled by the members based
on payroll:'
See independent auditors' report:
-. 44 -
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
6, LIABILITY, PROPERTY AND WORKERS' COMPENSATION PROTECTION (CONTINUED)
a. Self -Insurance Programs of the Authority (Continued):
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.-
Environmental Liability
The City participates in the pollution legal liability and remediation legal liability insurance'
which is available through the Authority:This policy covers sudden and gradual pollution of
scheduled property, streets, and storm, drains owned by, the City. Coverage is on a
claims -made. basis. There is a $50,000 deductible. The Authority has a limit of $120,000,000
for the 3 -year, period from July 1, 2002 through June 30, 2005. Each member of the. Authority
has a $10,000;000 limit during the 3 -year term of the policy.
Fidelity Bonds
The City participates in the Blanket Fidelity Bond issued by the Authority to protect the City
from employee dishonesty, faithful performance, depositor's forgery, computer fraud,
crime -money and securities. This bond covers all employees, the Treasurer, City Clerk and/or
Tax Collector and any employee required by law to be individually bonded. The bond's limit
is $1,000,000 and the deductible is $2,500 per occurrence.
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.
There were no significant outstanding claims at June 30, 2005.
See independent auditors' report.
-45-
Deficit Fund Balances
The following funds reported deficit fund balances at June 30, 2005:
ISTEA Special Revenue Fund $ (559,870)
Capital Improvement Capital Projects Fund (176,271)
Community Development Block Grant Special Revenue Fund (132,922)
The ISTEA Special Revenue Fund deficit will be reimbursed through the California Department of
Transportation.
The Capital Improvement Capital Projects Fund deficit will be funded with various government
grants in future years.
The Community Development Block Grant Special Revenue Fund deficit will be funded by future
year allocations from Los Angeles County.
Expenditures Exceeded Appropriations
Expenditures for the year ended June 30, 2005 exceeded appropriations of the following
funds/departments as follows:
Budget_ Actual Variance
Debt Service Fund:
Public Financing.Authority $ $ 238,550 $ (238,550)
Capital Projects Fund:
Public Financing Authority - 2 (2)
8. PENSION PLAN:
Plan Description:
The City contributes
utes to the California Public Employees Retirement System (PERS), an agent
multiple -employer public employee defined benefit pension plan. PERS provides retirement and
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.
Benefit provisions and all other requirements are established by state statute and city ordinance.
Copies of PERS' annual financial report may be obtained from their executive office: 400 P Street,
Sacramento, CA 95814.
See independent auditors' report.
46
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
8. PENSION PLAN (CONTINUED):
Funding Eglicy:
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. Benefit provisions
and all other requirements are established by state statute and city contract with employee
bargaining groups.
Annual Pension Cost:
Under GASB 27, the City reports an annual pension cost (APC) equal to the annual required
contribution (ARC) plus an adjustment for the cumulative difference between the APC and the
employer's actual plan contributions for the year. The cumulative difference is called the "net
pension obligation (NPO)". The ARC for the, period July 1, 2004 to June 30, 2005 has been
determined by an actuarial valuation of the plans as of June 30, 2002. The contribution rate
indicated for the period is 8.061% of payroll for the Retirement. Program. In order to calculate the
dollar value of the ARC for inclusion in financial statements~ prepared as of June 30; 2005, this
contribution rate, as modified by any amendments for the year,'would be multiplied by the payroll
of covered employees that were actually paid dunng theperiod July 1, 2004 to June 30, 2005. The
employer is responsible for determining the NPO and the APC.
A summary of principle assumptions and methods used to determine the ARC is shown below.
Retirement Program
Valuation Date: June 30, 2002
Actuarial Cost Method: Entry Age Actuarial Cost Method
Amortization Method: Level Percent of Payroll
Average Remaining Pool: 16 years as of the Valuation Date
Asset Valuation Method: 3 year Smoothed Market
Actuarial Assumptions:
Investment Rate of Return 8.25% (net of administrative expenses)
Projected Salary Increases 3.75% to 14.20% depending on Age,
Service and Type of Employment
Inflation 3.50%
Payroll Growth 3.75%
Individual Salary Growth A merit scale varying by duration of
employment coupled with an
assumed annual inflation component
of 3.5% and an annual production
growth of 0.2591o.
See independent auditors' report.
-47-
CITY OF DIAMOND BAR
NOTES TO BASIC FINANCIAL STATEMENTS
(CONTINUED)
June 30, 2005
8. PENSION PLAN (CONTINUED):
Annual Pension Cost (Continued):
Initial unfunded liabilities are amortized, over a closed period that depends on the plan's date of
entry into PERS. Subsequent plan amendments are amortized as a level percentage of pay over a
closed 20 -year period. Gains and losses that occur in the operation of the plan are amortized over a
rolling period, which results in an amortization of 10% of unamortized gains and losses each year.
If the plan's accrued liability exceeds the actuarial value of plan assets, then the amortization
payment on. the total unfunded liability may not be lower than the payment calculated " over a
30 year amortization period.
For the miscellaneous plan, the unfunded actuarial liability is amortized over a period ending
June 30, 2019. Police and fire protection services are contracted services from outside agencies.
Accordingly, no contribution is required for police and fire protection services.
The Schedule of Funding Progress below shows the recent history of the actuarial value of assets,
actuarial accrued liability, their relationship, and the relationship of the unfunded actuarial liability
to payroll. The most recent PERS information isnot available.
Three -Year Trend Information For PERS
Fiscal Annual Pension Percentage of Net Pension
Year Cost (APC) APC Contributed Obligation
6/30/2003 $ 100,464 100% $ . -
6/30/2004 134,451 100% -
6/30/2005 195,270 100% _
Schedule of Funding Progress For PERS
Actuarial
Accrued UAAL as a
Actuarial Actuarial Liability Unfunded % of
Valuation Value of (AAL) AAL Funded Covered Covered
Date Assets Entree (UAAL) Ratio Payroll Payroll
(A) . (B) (B -A) (A/B) (C) [(B-A)/C]
6/30/01 $ 3,606,037 $ 2,999,675 $ (606,362) 120.2 % $2,110,121 (28.700) %
6/30/02 3,682,236 3,602,219 (80,017) 102.2 % 2,078,905 (3.800)
6/30/03 4,053,990 4,610,042 556,052 87.9 % 2,218,437. 25.065%
See independent auditors', report.
-48,-
9. CONTINGENCIES:
The City is presently involved in other matters of litigation that have arisen in the normal course of
the City's business. City management believes,
based upon. consultation with the City Attorney,
that these cases, in the aggregate, are not expected to have a material adverse. financial
impact on
the City.
10. CONSTRUCTION COMMITMENTS:
The following material construction commitments
existed at June 30, 2005:
Expenditures as of .
Remaining
Project Name
June 30, 2005
Commitments
Sycamore Canyon Park - ADA Retrofit
$ 433,067
$ 79,301
Parkway/Medians:
Pathfinder/Evergreen Springs
23,709
121,865
Gemdal/BCR & Adel, Golden Springs
19,097
245,311
Parkway Improvements - DBB South of
Mountain Laurel
17,696
121,507
Pantera Picnic Shelter
14,901
126,557
Sycamore Canyon Trailhead Improvements
41,771
460,293
Slope Improvements - BCR/Fallowfield to
Westerly City Limits
31,532
118,953
Grand Avenue. Betterment/Beautification -
WCL to ECL
247,512
2,265,822
Slurry Seal - Area 1
16,690
583,384
Traffic. Signals:
Pathfinder @ Peaceful Hills
8,272
238,346
Diamond Bar Boulevard @ MaplehiIl
7,995
151,158
Left Turn- Diamond Bar Boulevard
@ Cold Spring
6,995
212,313
$ 869,237
$ 4,724,810
See independent auditors' report.
_49-
CITY OF DIAMOND BAR
NOTES TO. BASIC FINANCIAL STATEMENTS
(CONTRsTUED)
June 30, 2005
CITY OF DIAMOND BAR
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
For the year ended June 30, 2005
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
REVENUES:
Taxes
$ 7,541,400
$ 7,541,400
$ 8,632,837
$ 1,091,437
Intergovernmental revenue
3,373,800
4,098,456
4,823,265
724,869
Fines and forfeitures
717,000
717,000
713201
(3,799)
Licenses, permits and fees
2,142,460
2,142,460
1,732,555
(409,905)
Investment income
300,000
300,000
484,857
184,857
Other revenue
395,200
395,200
480,740
85,540
TOTAL REVENUES
14,469,860
15,194,516
16,867,455
1,672,939
EXPENDITURES:
Current:
General government:
City Council
180,550
167,830
139,817
28,013
City Manager
883,875
933,375
770,844
162,531
City Clerk
-
-
-
-
City Attorney
90,000
90,000
65,302
24,698
Finance
416,620
416,120
332,346
83,774
Human resources
229,540
296,540
237,980
58,560
Information systems
497,220
515,455
511,316
4,139
General government
838,400
957,674
887,541
70,133
Public information
414,200
412,600
343,059
69,541
Planning
708,575
692,215
497,735
194,480
Public safety:
Law enforcement
4,473,150
4,473,150
4,334,584
138,566
Fire protection
7,360
7,360
7,359.
1
Animal control
89,900
89,900
86,958
2,942
Emergency preparedness
10,450
31,450
31,065
385
Building and safety
685,200
685,200
447,033
238,167
Highways and streets
2,436,360
2,482,167 _
1,716,917
765,250
Parks, recreation and culture
2,694,005
2,785,131
2,750,815
34,316
Community development
929,795
965,985
464,073
501,912
TOTAL EXPENDITURES
15,585,200
16,002,152
13,624,744
2,377,408
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
(1,115,340)
(807,636)
3,242,711
4,050,347
OTHER FINANCING SOURCES. (USES):
Transfers in
1,291,420
1,291,420
1,090,264
(201,156)
Transfers out ,
(11360,760)
(3,750,520)
(1,060,838)
2,689,682
TOTAL OTHER
FINANCING SOURCES (USES)
(69,340)
(2,459,100)
29,426
2,488,526
NET CHANGE IN FUND BALANCE
(1,184,680)
(3,266,736)
3,272,137
6,538,873
FUND BALANCE - BEGINNING OF YEAR
22,663,502
22,663,502
22,663,502
-
FUND BALANCE - END OF YEAR
$ 21,478,822
$ 19,396,766
$ 25,935,639
$ 6,538,873
See independent auditors' report and note to required supplementary information.
-54-
CITY OF DIAMOND BAR
BUDGETARY COMPARISON SCHEDULE
PROPOSITION A TRANSIT SPECIAL, REVENUE FUND
For the year ended June 30, 2005
Variance with
Final Budget
Budgeted Amounts
Positive
Original
Final
Actual
(Negative)
REVENUES:
Intergovernmental revenue
$ 835,400
$ 835,400
$ 859,748
$ 24,348
Charges for services
560,000
560,000
554,340
(5,660)
Investment income
15,000
15,000
30,242
15,242
TOTAL REVENUES
1,410,400
1,410,400
1,444,330
33,930
EXPENDITURES:
Current: .
` Highway and streets
1,572,370
2,097,370
1,980,638
116;732
TOTAL EXPENDITURES
1,572,370
2,097,370
1,980,638
116,732
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
(161,970)
(686,970)
(536,308)
150,662
FUND BALANCE - BEGINNING OF YEAR
1,455,244
1,455,244
1,455,244
FUND BALANCE - END OF YEAR
$ 1,293,274
$ 768,274
$ 918,936
$ 150,662
See independent auditors' report and note to required supplementary information. -
-55-
mr the year enaea lune su, auuD
Variance with
Final Budget
Budgeted Amounts
Positive
Original Final
Actual (Negative)
REVENUES:
Intergovernmental revenue
$ 760,160 $ -
$ - $
TOTAL REVENUES
760,160 -
- -
OTHER FINANCING USES:
Transfers out
(760,160)
TOTAL OTHER FINANCING USES
(760,160) -
- -
NET CHANGE IN FUND BALANCE
- -
- -
FUND BALANCE (DEFICIT) -
BEGINNING OF YEAR
(559,870) (559,870)
(559,870) -
FUND BALANCE (DEFICIT) - END OF YEAR
$ (559,870) $ (559,870)
$ (559,870) $ -
See independent auditors' report and note to required supplementaryinformation.
-56-
CITY OF DIAMOND BAR
NOTE TO REQUIRED SUPPLEMENTARY INFORMATION
June 30, 2005
1. BUDGETS AND BUDGETARY ACCOUNTING:
The City adheres to the following general procedures in establishing its annual budget, which is
reflected in the accompanying basic financial statements:
a. The annual budget adopted by the City Council provides for the general operation of the City.
It includes proposed expenditures and the means of financing them. Budgeted appropriations
lapse at the end of the year.
b. The City Council approves total budgeted appropriations and amendments to appropriations
throughout the year. The City Council must approve budget appropriation transfers between
departments within a fund. The departments of the General Fund are considered to be
departments for purposes of this requirement. Actual expenditures may not legally, exceed
budgeted appropriations at the fund level.
c. Annual budgets are adopted for the General and certain Special Revenue Funds on a basis
substantially consistent with accounting principles generally accepted in the United States of
America. Accordingly, actual revenues and expenditures can be compared with related
budgeted amounts without any significant reconciling items. No budgetary comparisons are.
presented for the City's Debt Service, Capital Projects and Proprietary Funds as the City is not
legally required to adopt budgets or the budges are primarily "long-term" budgets which
emphasize capital outlay plans extending over one year.
d. The budgetary information shown- for revenues and expenditures represents the original
adopted budget adjusted for any changes made by the City Council. For the year ended
June 30, 2005, supplemental appropriations in the amount of $7,366,047 were made.
e. Formal budgetary integration is employed as a management control. device. Commitments for
materials and services, such as purchase orders and contracts, are recorded during the year as
encumbrances to assist in controlling expenditures. Appropriations which are encumbered at
year end lapse, and then are added to the following year's budgeted appropriations. However,
encumbrances at year-end are reported as reservations of fund balance.
CITY OF DIAMOND BAR
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
June 30, 2005
Debt
Service Fund
Total' .
Special
Public
Capital
Nonmajor
Revenue
Financing
Projects
Governmental
Funds
Authority
Funds
Funds
ASSETS
Cash and investments
$ 5,920,318
$ -
$ -
$ 5,920,318
Cash and investments with fiscal agents
-
2.74,426
150,964
425,390
Accounts receivable
45,244
-
-
45,244
Interest receivable
-
-
1,066
1,066
Due from other governments
311,157
-
-
311,157
Notes receivable
94,160
-
-
94,160
TOTAL ASSETS
$ 6,370,879
$ 274,426
$ 152,030
$ 6,797,335
LIABILITIES AND FUND BALANCES
LIABILITIES:
Accounts payable
$ 165,850
$ -
$ -
$ 165,850
Accrued payroll
963
-
-
963
Deferred revenue
132,995
-
-
132,995
Due to other funds
87,855
-
-
87,855
Advance to other governments
94,160
-
-
94,160
TOTAL LIABILITIES
481,823.
-
-
481,823
FUND BALANCES:
Reserved for:
Encumbrances
31,545
-
- .
31,545
Notes receivable
941160
-
-
94,160
Unreserved reported in:
Special revenue funds
5,763,351
-
-
5,763,351
Debt service funds
-
274,426
-
274,426
Capital projects funds
152,030
152,030
TOTAL FUND BALANCES
5,889,056
274,426
152;030
6,315,512'
TOTAL LIABILITIES
AND FUND BALANCES
$ 6,370,879
$ 274,426
$ 152,030
$ 6,797,335
See independent auditors' report.
-60-
CITY OF DIAMOND BAR
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANCES IN FUND BALANCES - NONMAJOR GOVERNMENTAL FUNDS
For the year ended June 30, 2005
Debt ,
Service Fund
Total
Special
Public
Capital
Nonmajor
Revenue"
Financing
Projects
Governmental
Funds
Authority
Funds
Funds
REVENUES:
Special assessments
$ 593,778
$ -
$ -
$ 593,778
Intergovernmental revenue
2,371,568
Charges for services
206,700
Investment income
128,581
7,061
3,325
138,967
TOTAL REVENUES
3,300,627
7,061
3,325
3,311,013
EXPENDITURES:
Current:
General government
-
1,065
-
1,065
Public safety
47,631
-
-
47,631
Highways and streets
603,591
-
-
603,591
Community development
585,952
_ '
-
585,952
Debt service:
Interest and fiscal charges
-
237,485
2
237,487
TOTAL EXPENDITURES
1,237,174
238,550
2
1,475,726
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
2,063,453
(231,489)
3,323
1,835,287
OTHER FINANCING USES:
Transfers out
(1,428,236)
-
(111,580)
(1,539,816)
TOTAL OTHER FINANCING USES
(1,428,236)
-
(111,580) .
(1,539,816)
NET CHANGE IN.FUND BALANCES
635,217
(231,489)
(108,257)
295,471
FUND BALANCES - BEGINNING OF YEAR
5,253,839
505,915
260,287
6,020,041
FUND BALANCES - END OF YEAR
$ 5,889,056
$ . 274,426
$ 152,030
$ 6,315,512 .
r. See independent auditors' report.
-61-
NONMAJOR SPECIAL REVENUE FUNDS
The following Special Revenue Funds have been classified as normajor governmental funds in the
accompanying financial statements:
State Gas Tax Fund - This fund is used 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 C Transit Fund - This fund is used to account for the receipt and expenditure of
Proposition C funds from the Los Angeles County Metropolitan Transportation Authority for the City's
transit and transit -related improvement projects.
Integrated Waste Management Fund - This fund is used to account for revenues and expenditures
related to the City's waste reduction efforts as related to AB939.
Air Quality Improvement Fund - This fund is used 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.
California Law Enforcement Equipment Program (CLEEP) Fund - This fund is used 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 - This fund is used to account for the development and
enhancement of the City's parks.
Community Development Block Grant (CDBG) Fund - This fund is used 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 (COPS) Fund - This fund is used to account for COPS grants
received from both the state and federal government. The purpose of these funds is to enhance the
City's public safety budget and to fund special public safety related projects.
-62-
CITY OF DIAMOND BAR
COMBINING BALANCE SHEET
NONMAJOR SPECIAL REVENUE FUNDS
June. 30, 2005
Proposition
Integrated
Air
State
C
Waste
Quality
Gas Tax
Transit
Management
Improvement
CLEEP
ASSETS
Cash and investments
$
484,109
$ 1,174,308
$ 536,681
$
110,625
$
72,387
Accounts receivable
-
-
45,244
- "
-
Due from other governments
101,189
-
-
19,588
Notes receivable
-
-
-
-
-
TOTAL ASSETS
$
585,298
$ 1,174,308
$ 581,925
$
130,213
$
72,387
LIABILITIES AND FUND BALANCES
LIABILITIES:
Accounts payable
$
-
$ -
$ 17,675
$
10,065
$
-
Accrued payroll
-
-
474
228
-
Deferred revenue
-
-
-
-
Due to other funds
-
-
-
-
Advance to other governments
-
-
-
-
-
TOTALLIABIL]TIES
-
-
18,149
10,293
-
FUND BALANCES (DEFICIT):
Reserved for:
Encumbrances
-
-
18,176
3,657
-
Notes receivable
-
-
-
-
Unreserved
585,298
1,174,308
545,600
116,263
72,387
TOTAL FUND
BALANCES (DEFICIT)
585,298
1,174,308
563,776.
119,920
72,387
TOTAL LIABILITIES AND
FUND BALANCES
$
585,298
$ 1,174,308
$ 581,925
$
130,213
$
72,387
See independent auditors' report.
_
-64-
-651-
Total
Park and
Landscape
Nonmajor
Facility
Asset
Maintenance
Special
Development
CDBG
COPS
Seizure
District
Revenue Funds
$ 1,898,284
$ -
$ 189,466
$ 319,845
$ 1,134,613
$ 5,920,318
45,244
2,016
132,995
-
-
55,369
311,157
-
94,160
- -
-
-
94,160
$ 1,900,300
$ 227,155
$ 189,466
$ 319,845
$ 1,189,982
$ 6,370,879
45,067
$ 332
$
$ 92,711
$ 165,850
-
261
963
132,995
132,995
-
87,855
_
-
87,855
-
94,160
_
-
94,160
360,077
332
_
92,972
481,823
9,712
31,545
_
94,160
-
94,160
1,900,300
(227,082)
189,134
319,845
1,087,298
5,763,351
1,900,300
(132,922)
189,134
319,845
1,097,010
5,889,056
$ 1,900,300
$ 227,155
$ 189,466
$ 319,845
$ 1,189,982
$ 6,370,879
-651-
CITY OF DIAMOND BAR
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - NONMAJOR SPECIAL REVENUE FUNDS
For the year ended June 30, 2005
Proposition
Integrated
Air
State
C
Waste
Quality
Gas Tax
Transit
Management
Improvement
CLEEP
REVENUES:
Special assessments
$ -
$ -
$ -
$ -
$ _
Intergovernmental revenue
1,091,727.
713,316
52,388
72,092
-
Charges for services
-
-
206,700
-
Investment income
14,317
19,790
12,138
3,938
1,574
TOTAL REVENUES
1,106,044
733,106
271,226
76,030
1,574
EXPENDITURES:
Current:
Public safety
-
-
-
-
15,031
Highways and streets
-
-
Community development
-
-
268,340
119,109
-
TOTAL EXPENDITURES
-
-
268,340
119,109
15,031
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
1,106,044
733,106
2,886
(43,079)
(13,457)
OTHER FINANCING USES:
Transfers out
(983,689)
(140,129)
-
(7,800)
-
TOTAL OTHER
FINANCING USES
(983,689)
(140,129)
-
(7,800)
-
NET CHANGE IN
FUND BALANCES
122,355
592,977
2,886
(50,879)
(13,457)
FUND BALANCES (DEFICIT)
BEGINNING OF YEAR
462,943
- 581,331
560,890
170,799
85,844
FUND BALANCES (DEFICIT) -
END OF YEAR .
$ 585,298
$ 1,174,308
$ 563,776
$ 119,920
$ 72,387
See independent auditors' report.
-66-
;67-
Total
Park and
Landscape
Nonmajor
Facility
Asset
Maintenance
Special
Development
CDBG
COPS
Seizure
District
Revenue Funds
$ .
$` _
$ -
$ -
$ 593,778
$ _ 593,778
2,016
329,687
110,342
-
-
2,371,568
-
_
206,700.
40,802
5,534
6,820
23,668
128,581
42,818
329,687
115,876
6,820
617,446
3,300,627
-
32,600
47,631
-
-
_
603,591
603,591;
198,503.
585,952
-
198,503
32,600
-
603,591
1,237,174
42,818
131,184
83,276
6,820
13,855
2,063,453
(15,841)
(139,545)
(115,464)
-
(25,768)
(1,428,236)
(15,841)
(139,545)
(115,464)
-
(25,768)
(1,428,236)
26,977
(8,361)
(32,188)
6,820
(11,913)
635,217
1,873,323
(124,561)
221,322
313,025
1,108,923
5,253,839
$ 1,900,300
$ (132,922)
$ 189,134
$ 319,845
$ 1,097,010
$ 5,889,056
;67-
CITY OF DIAMOND BAR
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN
FUND BALANCE -BUDGET AND ACTUAL
STATE
GAS TAX SPECIAL REVENUE FUND
For the year ended June 30, 2005
Variance with . .
Final Budget
Budgeted Amounts
Positive
Original Final
Actual
(Negative)
REVENUES:
Intergovernmental revenue .
$ 1,047,470 $ 1,047,470 $
1,091,727
$ 44,257.
Investment income
3,500 3,500
14,317
10,817
TOTAL REVENUES
1,050,970 1,050,970
1,106,044
55,074
OTHER FINANCING USES:
Transfers out
(1,385,150) (1,385,150)
(983,689)
401,461
TOTAL OTHER FINANCING USES
(1,385,150) (1,385,150)
(983,689)
401,461 .
NET CHANGE IN FUND BALANCE
(334,180) (334,180)
122,355
-456,535
FUND BALANCE - BEGINNING OF YEAR
462,943 462,943
462,943
-
FUND BALANCE - END ORYEAR
$ 128,763 $ 128,763 $
585,298
$ . 456,535
See independent auditors' report.
-68-
CITY OF DIAMOND BAR
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
PROPOSITION C TRANSIT SPECIAL REVENUE FUND
For the year ended June 30, 2005 '
Variance with
Final Budget
Budgeted Amounts
Positive
Original Final
Actual
(Negative)
REVENUES:
Intergovernmental revenue $ 692,900 $ 692,900 $
713,316
$ 20,416
.Investment income 15,000 15,000
19,790
4,790
TOTAL REVENUES -707,900 707;900
733,106
25,206
OTHER FINANCING USES:
Transfers out (615,000) (845,000)
(140,129)
704,871
TOTAL OTHER FINANCING USES (615,000) (845,000)
(140,129)
704,871
NET CHANGE IN FUND BALANCE, 92,900' (137,100)
592,977.
730,077
FUND BALANCE- BEGINNING OF YEAR 581,331 581,331
581,331..
-
FUND BALANCE - END OF YEAR $ 6741231 $ 444,231 $
1,174,308 ',
$ 730,077
See independent auditors' report.
.-69
CITY OF DIAMOND BAR
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL
.
INTEGRATED WASTE MANAGEMENT SPECIAL REVENUE FUND.
For the year ended June 30, 2005
Variance with
Final Budget
Budgeted Amounts
Positive
Original
Final
Actual
(Negative)
REVENUES:
Intergovernmental revenue
$ . 85,000 $
85,000 $
52,388
$ (32,612)
Charges for services
200,000
200,000
206,700
6,700
Investment income
10,000
10,000
12,138
2,138
TOTAL REVENUES
295,000
295,000
271,226
(23,774)
EXPENDITURES:
.
Current:
Community development
367,650
367,650
268,340
99,310
TOTAL EXPENDITURES
367,650
367,650
268,340
99,310
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
(72,650)
(72,650)
2,886
75,536
FUND BALANCE - BEGINNING OF YEAR
560,890
560,890
560,890
-
FUND BALANCE - END OF YEAR
$ 488,240 $
488,240 $
563,776
$ 75,536.
See independent auditors' report.
-70-
CITY OF DIAMOND BAR
SCHEDULE
OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE -BUDGET AND ACTUAL
AIR QUALITY Il movEMENT SPECIAL REVENUE FUND
For the year ended June 30, 2005
Variance with
Final Budget
Budgeted Amounts
Positive
Original
Final
Actual
(Negative)
REVENUES:
Intergovernmental revenue
$ 65,000 $
65,000 $
72,092
$ 7,092
Investment income
3,000.
3,000
3,938
938
TOTAL REVENUES
68,000
68,000
76,030
8,030
EXPENDITURES:
,
Current:
Community development
205,50 0
220,683
119,109
101,574
TOTAL EXPENDITURES
205,500
220,683
119,109 _
101,574
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
(137,500)
(152,683)
(43,079)
109,604
OTHER FINANCING USES:
Transfers out
;(7;800)
(7,800)
(7,800)
-
TOTAL OTHER FINANCING USES
(7,800)
(7,800)
(7,800)
NET CHANGE IN FUND BALANCE
(145,300)
(160,483)
(50,879)
109,604
FUND BALANCE - BEGINNING OF YEAR
170,799
170,799
170,799
-
FUND BALANCE - END OF YEAR
$ 25,499 $
10,316 $
119,920
$ .109,604
i
L
See independent auditors' report.
-
-71-
CITY OF DIAMOND BAR
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
CLEEP SPECIAL REVENUE FUND
For the year ended June 30, 2005
Variance with .
Final Budget
Budgeted Amounts
Positive
Original Final
Actual
(Negative)
REVENUES:
Investment income $ 1,000 $ 1,000 $
1,574
$ 574
TOTAL REVENUES 1,000 1,000
1,574
574
EXPENDITURES:
Current:
Public safety 40,000 40,000
15,031
24,969
TOTAL EXPENDITURES 40,000 40,000
15,031
24,969
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES (39,000) (39,000)
(13,457)
25,543
FUND BALANCE - BEGINNING OF YEAR' 85,844 85,844
85,844
FUND BALANCE - END OF YEAR $ 46,844 $ 46,844 $
72,387
$ 25,543
CITY OF DIAMOND BAR
SCHEDULE OF REVENUES, EXPENDITURES AND .. `
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
PARK AND FACILITY DEVELOPMENT SPECIAL REVENUE FUND
For the year ended June 30, 2005
Variance with
Final Budget
Budgeted
Amounts
Positive
Original
Final
Actual
(Negative)
REVENUES:
Intergovernmental revenue
$ , 69,000
$ 766,585
$ 2,016
$ (764,569)
Investment income
40,000
40,000
40,802
802
TOTAL REVENUES
109,000
806,585
42,818
(763,767)'
OTHER FINANCING USES:
Transfers out
.(109,400)
(1;109,379)
(15,841)
1,093,538
TOTAL OTHER FINANCING USES
(109,400)
(1,109,379)
(151841)
1,093,538
NET CHANGE IN FUND BALANCE
(400)
(302,794)
26,977
329,771
FUND BALANCE -BEGINNING OF YEAR
1,873;323
1,873,323
1,873,323.
-
FUND BALANCE - END OF YEAR
$' 1,872,923
$ 1,570,529
$ . 1,900,300
$ 329,771
See independent auditors' report.
-73-
CITY OF DIAMOND BAR .
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
CDBG SPECIAL REVENUE FUND
For the year ended June 30, 2005
Variance with
Final Budget
Budgeted
Amounts
Positive
.
Original
Final
Actual
(Negative)
REVENUES:
Intergovernmental revenue
$ 510,885
$ 627,163
$ 329,687
$ (297,476)
TOTAL REVENUES
510,885
627,163
329,687
(297,476)
EXPENDITURES:
Current:
Community development
239,970
261,303
198,503
62,800
TOTAL EXPENDITURES
239,970
261,303
198,503
62,800
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
270,915
365,860
131,184
(234,676)
OTHER FINANCING USES:
Transfers out
(270,915)
(387,193)
(139,545)
247,648
TOTAL OTHER FINANCING USES
(270,915)
(387,193)
(139,545)
247,648
NET CHANGE IN FUND BALANCE
-
(21,333)
(8,361)
12,972
FUND BALANCE (DEFICIT) -
BEGINNING OF YEAR
(124,561)
(124,561)
(124,561)
-
FUND BALANCE (DEFICIT) - END OF YEAR
$ (124,561)
$ (145,894)
$ (132,922)
$ 12,972
See independent auditors' report. .
-74-
CITY OF DIAMOND BAR
SCHEDULE
OF REVENUES, EXPENDITURES
AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
COPS SPECIAL REVENUE FUND
For the year ended June 30, 2005
Variance with
Final Budget
Budgeted Amounts
Positive
Original
Final
Actual
(Negative)
REVENUES:
Intergovernmental revenue
$ 120,000 $
120,000 $ .
110,342
$ (9,658)
Investment income
2,000
2,000
5,534
3,534
TOTAL REVENUES
122,000
122,000
115,876
(6,124)
EXPENDITURES:
Current:
Public safety
56,450
56,450
32,600
23,850
TOTAL EXPENDITURES
56,450
56,450
32,600
23,850
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
65,550
65,550
83,276
17,726
OTHER FINANCING USES:
Transfers out
(178,470)
(178,470)
(115,464)
63,006
TOTAL OTHER FINANCING USES
(178,470)
(178,470)
(1.15,464)
63,006
NET CHANGE IN FUND BALANCE
(112,920)
(112,920)
(32,188)
80,732
FUND BALANCE - BEGINNING OF YEAR
221,322
221,322
221,322
-
FUND BALANCE - END OF YEAR
$ 108,402 $
108,402 $
189,134
$ 80,732
See independent auditors' report.
-75-
CITY OF DIAMOND BAR
SCHEDULE
OF REVENUES, EXPENDITURES
AND
CHANGES IN FUND
BALANCE - BUDGET AND ACTUAL
LANDSCAPE MAINTENANCE DISTRICT SPECIAL REVENUE FUND
For the year ended June 30, 2005
Variance with
Final Budget
Budgeted Amounts
Positive
Original
Final
Actual
(Negative)
REVENUES:
Special assessments
$ 552,247 $
558,057 $
593,778
$ ` 35,721
Investment income
14,000
15,000
23,668
8,668
TOTAL REVENUES
566,247
573,057
617,446
44,389
EXPENDITURES:
Current:
Highways and streets
1,390,370
809,049
603,591.
205,458
TOTAL EXPENDITURES
1,390,370
809,049
603,591
205,458
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
(824,123)
(235,992)
13,855
249,847
OTHER FINANCING USES:
Transfers out
-
(756,560)
(25,768)
730,792
TOTAL OTHER FINANCING USES
-
(756,560)
(25,768)
730;792
NET CHANGE IN FUND BALANCE
(824,123)
(992,552)
(1.1,913)
980,639
FUND BALANCE- BEGINNING OF YEAR
1;108,923
1,108,923
1,108,923
'
FUND BALANCE - END OF YEAR
$ 284,800 $
116,371 $
1,097,010.
$ 980,639
See independent auditors' report.
-77-
NONMAJOR DEBT SERVICE FUND
CITY OF DIAMOND BAR
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
PUBLIC FINANCING AUTHORITY DEBT SERVICE FUND
For the year ended lune 30, 2005
Variance with .
_
Final Budget
Budgeted Amounts
Positive
Original Final
Actual
(Negative)
REVENUES:
Investment income $ - $ - $
7,061
$ 7,061
TOTAL REVENUES
7,061
7,061
EXPENDITURES:
Current:
General government - -
1,065
(1,065)
Debt service:
Interest and fiscal charges - -
237,485
(237,485)
TOTAL EXPENDITURES -
238,550
(238,550)
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES . - -
(231,489)
(231,489)
FUND BALANCE - BEGINNING OF YEAR 505,915 505,915
505,915
-
FUND BALANCE - END OF YEAR $ 505,915 $ 505,915 $
274,426
$ (231,489)
See independent auditors' report.
-80-
NONMAJOR AND MAJOR CAPITAL PROJECTS FUNDS
Capital Projects Funds are established to account for financial resources to be used for the acquisition
or construction of major capital facilities (other than those financed by Special Revenue Funds).
NONMAJOR FUNDS:
Public Financing Authority Fund This fund is used to account for the financing of public
improvements and other capital purchases for the City.
Grand Avenue Construction Fund - This fund is used 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.
MAJOR FUND:
Capital Improvement Fund This fund is used 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.
-81-
CITY
COMM
NONMAJOR
ASSETS
Cash and investments with fiscal agents
Interest receivable
TOTAL ASSETS
LIABILITIES AND FUND BALANCES
LIABILITIES:
TOTAL LIABILITIES
FUND BALANCES:
Unreserved reported in:
Capital projects funds
TOTAL FUND BALANCES
TOTAL LIABILITIES
AND FUND BALANCES
)ND BAR
NCE SHEET
ROJECTS FUNDS
)OS
Total
Nonmajor
Public
Grand
Capital
Financing
Avenue
Projects
Authority
Construction
Funds
$ 150,964
$ -
$ 150,964
1,066
-
1,066
$ 152,030
$ -
$ 152,030
.152,030
-
152,030
152,030
-
152,030
$ 152,030
$ -
$ 152,030
CITY OF DIAMOND BAR
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANCES IN FUND BALANCES- NONMAJOR CAPITAL PROJECTS FUNDS
For the year ended June. 30, 2005
Total
Nonmajor
Public
Grand
Capital
Financing
Avenue
Projects .
Authority
Construction
Funds
REVENUES:
Investment income
$ 3,325
$ -
$ 3,325
TOTAL REVENUES
. 3,325
- .
3,325
EXPENDITURES:
Debt service:
Interest and fiscal charges..
_ 2
- .
2
TOTAL EXPENDITURES
2
2
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
3,323
-
3,323
OTHER FINANCING USES:
Transfers out
-
(111,580)
(111,580)
TOTAL OTHER FINANCING USES
-
(111,580)
(111,580)
NET CHANGE IN FUND BALANCES
3,323
(111,580)
(108,257)
FUND BALANCES -BEGINNING OF YEAR
148,707
11.1,580
260,287
FUND BALANCES -END OF YEAR
$ 152,030
$
$ 152,030
See independent auditors' report:
-83=
CITY OF DIAMOND BAR
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND
BALANCE - BUDGET AND ACTUAL
CAPITAL RopROVEMENT CAPITAL PROJECTS FUND
For the
year ended June 30, 2005
_.
Variance with.
Final Budget
Budgeted Amounts
Positive
Original
Final
Actual
(Negative)
REVENUES:
Intergovernmental revenue
$ '2,530,080 $
1,751,549 $
251,976
$ (1,499,573)
Licenses, permits and fees
674,200
424,200
-
(424,200)
TOTAL REVENUES
3,204,280
2,175,749
251,976
(1,923,773)
EXPENDITURES:
Capital outlay
7,147,395
9,686,293
1,682,830
8,003,463
TOTAL EXPENDITURES
7,147,395
9,686,293
1,682,830
8,003,463
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
(3,943,115)
(7,510,544)
(1,430,854)
6,079,690
OTHER FINANCING SOURCES:
Transfers in
3,943,115
6,987,632
1,273,103
(5,714,529)
TOTAL OTHER FINANCING SOURCES
3,943,115
6,987,632
1,273,103
(5,714,529)
NET CHANGE IN FUND BALANCE
-
(522,912)
(157,751)
365,161
FUND BALANCE (DEFICIT) -
BEGINNING OF YEAR
(18,520)
(18,520)
FUND BALANCE (DEFICIT) - END OF YEAR
$ (18,520) $
(541,432) $
(176,271)
$ 365,161
See independent auditors' report.
-86-
INTERNAL SERVICE FUNDS
CITY OF DIAMOND BAR
COMBINING STATEMENT OF NET ASSETS
INTERNAL SERVICE FUNDS
June 30, 2005
..Self-
- Equipment. _
_. Computer
Insurance
Replacement
Replacement
Totals
ASSETS
CURRENT. ASSETS:
Cash and investments
$ 1,504;994
$ 230,528
$ 31,438
$ 1,766,960
Accounts receivable
207,624
-
-
207,624
TOTAL CURRENT ASSETS
1,712,618
230,528
31,438
1,974,584
NONCURRENT ASSETS:
Capital assets:
Machinery and equipment
-
84,817
12,461
97,278
Less accumulated depreciation
-
(73,889)
(9,000)
(82,889)
TOTAL NONCURRENT ASSETS
-
10,928
3,461
14,389
TOTAL ASSETS
1,712,618
241,456
34,899
1,988,973
NET ASSETS
Invested in capital assets, net of related debt
-
10,928
3,461
14,389
Unrestricted
1,712,618
230,528
31,438
1,974,584
TOTAL NET ASSETS
$ 1,712,618
$ 241,456
$ 34,899
$ 1,988,973
CITY OF DIAMOND BAR
COMBINING STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN FUND NET ASSETS - INTERNAL SERVICE FUNDS
For the year ended June 30, 2005
Self-
Equipment
Computer
Insurance
Replacement
Replacement
Totals
OPERATINGREVENUES:
deposits
$ , 48,148
$ -
$ -
$ 48,148
TOTAL OPERATING REVENUES
48,148
-
-
48,148
OPERATING EXPENSES:
Insurance premiums
174,837
-
-
174,837
`
Depreciation
-
18,504
2,364
20,868
TOTAL OPERATING EXPENSES
174,837
18,504
2,364
195,705
OPERATING LOSS
(126,689)
(18,504)
(2,364)
(147,557)
NONOPERATING REVENUES:
Gain on disposal of capital asset
-
-
3,728
3,728
Investment income
28,888
4,231
-
33,119
TOTAL NONOPERATING REVENUES
28,888
4,231
3,728
36,847
INCOME(LOSS) BEFORE TRANSFERS
(97,801)
(14,273) `
1,364
(110,710)
TRANSFERS IN
169,687
32,100 -
35,500
237,287
CHANGE IN NET. ASSETS .
71,886
17,827
36,864
126,577
TOTAL NET ASSETS (DEFICIT)
BEGINNING OF YEAR
1,640,732
223,629
(1,965)
1,862,396
TOTAL NET ASSETS - END OF YEAR
$ 1,712,618
$ 241,456
$ 34,899 '
$ 11988,973
CITY OF DIAMOND BAR
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
For the year ended June 30, 2005
Self-
Equipment
Computer
Insurance
Replacement
Replacement
Totals
CASH FLOWS FROM OPERATING ACTIVITIES:
Insurance payments
$ (174,837)
$ -
$ -
$ (174,837)
Cash paid for operating expenses
-
-
(4,062)
(4,062)
NET CASH USED
BY OPERATING ACTIVITIES
(174,837)
-
(4,062)
(178,899)
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:
Transfers from other funds
169,687
32,100
35,500
237,287
NET CASH PROVIDED BY NONCAPITAL
FINANCING ACTIVITIES
169,687
32,100
35,500
237,287
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment income
28,888
4,232 .
-
33,120
NET CASH PROVIDED BY
INVESTING ACTIVITIES
28,888
4,232
-
33,120
NET INCREASE IN CASH
AND CASH EQUIVALENTS
23,738
36,332
31,438
91,508
CASH AND CASH EQUIVALENTS -
BEGINNING OF YEAR
1,481,256
194,196
-
1,675,452
CASH AND CASH EQUIVALENTS -
END OF YEAR
$ 1,504,994
$ 230,528
$ 31,438
$ 1,766,960
RECONCILIATION OF OPERATING LOSS TO
NET CASH USED BY OPERATING ACTIVITIES:
Operating loss
$ (126,689)
$ (18,504)
$ (2,364)
$ (147,557)
Adjustments to reconcile operating loss to net cash
used by operating activities:
Depreciation
-
18,504
2,364
20,868
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivables
(48,148)
-
-
(48,148)
Increase (decrease) in accounts payable
-
-
(666)
(666)
Increase (decrease) in due to other funds
-
-
(3,396)
(3,396)
TOTAL ADJUSTMENTS
(48,148)
18,504
(1,698)
(31,342)
NET CASH USED BY
OPERATING ACTIVITIES
$ (174,837)
$ -
$ (4,062)
$ (178,899)
See independent auditors' report.
-90-
Government -Wide Expenses by Function
Fiscal Year 200405
$6,000,000
$5,000,000
$4,000,000
o $3,000,000
$2,000,000
$1,000,000
yup
A
Table 1
City of Diamond Bar
. C
Nss';.
1_oil�
ON
Government -wide Expenses by Function
(unaudited)
Fiscal Year
Fiscal Year
Fiscal Year
Expenses by Function
2002-03
2003-04
2004-05
General government
$ 3,315,082
$ 3,713,530
$ 3,997,319
Public safety
4,988,449
4,875,823
4,969,183
Highways and streets
1,006,768
1,365,737
4,622,014
Community development
3,370,116
5,724,606
1,050,025
Parks, recreation & culture
2,309,150
2,580,454
3,814,887
Interest and fiscal charges
535,752
171,223
270,735
$ 15,525,317
$ 18,431,373
$ 18,724,163
Government -Wide Expenses by Function
Fiscal Year 200405
$6,000,000
$5,000,000
$4,000,000
o $3,000,000
$2,000,000
$1,000,000
yup
A
. C
Nss';.
1_oil�
ON
t �,
It
Table 2
City of Diamond Bar
Government-wide Revenues by Source
(unaudited)
FY 2002-03
FY 2003-04
FY 2004-05
General revenues
$ 10,837,951 $
10,510,543
$ 13,158,592
Taxes
Investment income
439,455
182,069
532,091
Other
84,795
250,250
676,292
11,362,201
10,942,862
14,366,975
Program revenues
Charges for services
2,872,909
3,033,645
4,129,802
Operating grants and contributions
4,390,722
4,068,446
4,040,785 .
Capital grants and contributions
1,779,510
261,994`
. -
9,043,141
7,364,085
8,170,587
Total government-wide revenues:
$ 20,405,342 $
18,306,947
$ 22,537,562
This is the third year to show this information since the implementation of GASB 34
Source: City Finance Department
-93-
Total General Fund Expenditures
$28,000,000
$26,000,000
$24,000,000
$22,000,000
$20,000,000
$18,000,000
c $16,000,000
$14,000,000RENO
$12,000,000
$10,000,000
$8,000,000 '�f
$6,000,000
$4,000,000Mi
$2,000,000
$-
1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 . 2004-05
Fiscal Year
Table 3
City of Diamond Bar
General Government Expenditures by Function (1)
Last Ten Fiscal Years
(unaudited)
Fiscal
General
Public
Public Culture &
Capital
Debt
�jf�;�.
�
..z�`'3
m ��
Year
Government*
Safety
Works Recreation
Outlay*
Service
Total
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
1.0,666,740
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
-
19,265,439
2002-03
3,299,041
4,973,248
3,679,856 1,946,025
8,057,482
535,752
22,491,404'
2003-04
3,663,055
4,857,179
., 4,785,593 2,114,090
9,261,289
145,580
24,826,786
2004-05
4,837,030
4,954,630
4,301,146 2,750,815
1,682,830
237;487
18,763,938
Total General Fund Expenditures
$28,000,000
$26,000,000
$24,000,000
$22,000,000
$20,000,000
$18,000,000
c $16,000,000
$14,000,000RENO
$12,000,000
$10,000,000
$8,000,000 '�f
$6,000,000
$4,000,000Mi
$2,000,000
$-
1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 . 2004-05
Fiscal Year
(1) Includes General, Special Revenue, Capital Project and Debt Service Funds.
S„yr �•;
�L�'Y�
1311R, C
u"15i�+;��i'Zf
f<' �{i
� °} �
`�isL�il
rpt y�
['�
�. } a:
a��{
`7
f% N�
�•+. 2
•ij�
Fwrr�
�jf�;�.
�
..z�`'3
m ��
�'i
ae e
�`�''
¢r:}.�:;
z• �-�;
tks r-
�;t�.`'-�
�f�:
f 3 i r•
1 4�L�f
�t:x,.•_
(1) Includes General, Special Revenue, Capital Project and Debt Service Funds.
Table 4
City of Diamond Bar
PiYeC9�..
General Government Revenues by Source (1)
p.!SE`;""�,,''}iy�iY
IN
-�'j°��
Last Ten Fiscal
Years
E'k:Ff
jE
'10V E"` '�
Yh-^'+
K
(
t%
(unaudited)
t �t't
fa .S.ik
Lei
Fiscal
Special
.Licenses
Inter-
Fines &
Use of Money
Other**
Year
Taxes*
Assessments
& Permits
Governmental
Forfeitures
& Property
Revenue
Total
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
2 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
23,520,069
1999-00
8,006,841
547,041
1,666,726
7,713,344
556,527
1,395,785
59,443
19,945,707:
2000-01
1,229,142
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
998,283
95,190
18,157,222
2002-03
8,138,712
557,601
1,467,127
- 8,602,856
813,617
658,922
74,818
20,313,653
2003-04:.
8,468,342
555,232
1,457,345
6,353,152
733,903
395,929
234,951
18,198,854
2004-05
9,393,877
593,778
1,732,555
8,306,557
713,201
654,066
` 480,740
21,874,774
PiYeC9�..
p.!SE`;""�,,''}iy�iY
IN
-�'j°��
E'k:Ff
jE
'10V E"` '�
Yh-^'+
K
(
t%
�fi F! rJ (c:C•* 6{Y4t
5 n �Y' �iyu�i4 GyyJ
Nr
t �t't
fa .S.ik
Lei
Total Secured Property Tax Collections
$3,000,000
$2,500,000
N $2,000,000
C
CO
�}r`�/j��Ci,}tur�
yy�r �"rti ^rad
tiv
��,�.+
$1,500,000
w
~ $1,000,000
$500,000
N_
S �L" i JiY
F C
i..
d71i
WON
Table 5
City of Diamond Bar
Secured Property Tax Levies and Collections
Last Ten Fiscal Years
(unaudited)
Fiscal
Total
Total Current
Percentage of
Deliquent Tax
Year
Current Levy '
Collections
Levy Collected
Receivables
1995-96
$ 1,796,593-
- $ 1,711,983:__ . _ .
- ._ 95.29% _ ..
$ 84,6.10
1996-97
1,809,197
1,625,252
89.83%
183,945
1997-98
1,781,264
1,680,816
94.36%
100,448
1998-99
1,810,266
1,758,764
97.16%
51,502
1999-00
1,904,915
1,813,904
95.22%
91,011
2000-01
1,954,530
1,847,817
94.54%
106,713
2001-02
2,129,310
2,017,399
94.74%
111,911
2002-03
2,301,716
2,211,793
96.09%
89,923 -
2003-04
2,504,974
2,390,554
95.43%
114,420 '
2004-05
2,698,515
2,568,064
95.17%
130,450 .
Total Secured Property Tax Collections
$3,000,000
$2,500,000
N $2,000,000
C
CO
�}r`�/j��Ci,}tur�
yy�r �"rti ^rad
tiv
��,�.+
$1,500,000
w
~ $1,000,000
$500,000
N_
S �L" i JiY
F C
i..
d71i
WON
�}r`�/j��Ci,}tur�
yy�r �"rti ^rad
tiv
��,�.+
$1,500,000
w
~ $1,000,000
$500,000
N_
S �L" i JiY
F C
i..
d71i
WON
$1,500,000
w
~ $1,000,000
$500,000
N_
S �L" i JiY
F C
i..
d71i
WON
Table 6
City of Diamond Sar
Assessed
and Estimated Actual Values of
Taxable Property
Last Ten Fiscal Years
(unaudited)
Fiscal
Secured
Unsecured
Public
Total
Percentage
Year
Net Value
Net Value
Utility
Exemptions
Net Values
Increase
1995-96
$ 3,659,337,876 $
60,689,091
$ 825,138 $
.. 35,979,540 $
3,684,872,565
1.12%
1996-97
3,660,223,979
64,187,086
828,963
27,479,616
3,697,760,412
0.35%
1997-98
3,645,994,575
67,863;390
884,347
37,731,129
3,677,011,183
-0.56%
1999-99
3,730,370,102' `
` 747441,058
876,688
38,373,706
3,767,314,142
2.46%
1999-00
3,873,275,798
63,844,054
125,921
36,494,583
3,900,751,190
3.54%
2000-01
4,098,200,125
67,438,047
116,405
40,088,648
4,125,665,929
5.77%
2001-02
4,327,911,837
71,622,089
127,441.
41,869,703.
4,357,791,664
5.63%
2002-03
4,574,521,268'
69,971,865
122,697
44,188,829
4,688,804,659
7.60%
8.36%
2003-04
,.5,051,058,871
77,407,924
140,122
47,621,182
5,080,985,735
7.20%
2004-05
i
5;410,300,487
76,173,121
174,846
39,831,091
5,446,817,363
Table 7
City of Diamond Bar
Property Tax Rates -All Direct and Overlapping Governments
(Per$100 of Assessed Valuation)
Last Ten Fiscal Years
(unaudited)
Fiscal General Los Angeles Walnut ValleyWalnut Valley L.A County L.A County Metropolitan
Year Levy County - School-Districl Water District Flood Control --Sanitation Water District Total
1995-96 1.0000000 0.0018140 0.0089866 0.0000000 0.0009630 0.0000000 0.0089000 1.0206636
1996-97 1.0000000 0.0016040 0.0850380 0.0000000 0.0019910 0.0000000 0.0089000 1.0975330
1997-98 1.0000000 .0.0015840 0.1025300 0.0000600 0.0021970 0.0000000 0.0089000 1.1152110
1998-99 1.0000000 0.0014510 0.0694610 0.0000000 0.0019530 0.0000000 0.0089000 1.0817650
1999-00 1.0000000 0.0014220 0.0784890 0.0000000 0.0017650 0.0000000 0.0089000 1.0905760
2000-01 1.0000000 0.0013140 0.0884030 0.0000000 0.0015520 0.0000000 0.0088000 1.1000690
2001-02 1.0000000 0.0011280 0.0916300 0.0000000 0.0004730 0.0006000 0.0077000 1.1009310
2002-03 1.0000000 0.0010330 0.1008580 0.0000000 0.0008810 0.0000000 0.0067000 1.1094720
2003-04 1.0000000 0.0009920 0.0966020 0.0000000 0.0004620 0.0000000 0.0061000 1.1041560
2004-05 1.0000000 0.0009230 0.0951540 0.0000000 0.0002450 0.0000000 0.0058000 1.1021220
Typical Property Tax Rates
(Percent of Assessed Value)
2.0000000
1.7500000-
1.5000000-
1.2500000-
1.0000000
.75000001.50000001.25000001.0000000
0.7500000
0.5000000 f1
0.2500000
IR
V-
1995-96
0.0000000
1995-96 1996-97 1997-98 1998-99' 1999-00 ' .2000-01 2001-02 2002-03 2003-04 2004-05
Fiscal Year
' j"3d�3�! Ct, fF � j Jiv t{CT SC `-'L��•-fi � Yh
t�' `��'?
�}'x4°i m {i
=--�5
d 'mss.
� INA
i[wLL$y
[il"'7j`/�
��'r...*�+
^fil't��
rtf�'f�'�
�j'FL4 Gt.
,3�
yti�M.rv•`{{;�i:{
Table 8
City of Diamond Bar
Computation of Legal Debt Margin
June 30, 2005
(unaudited),
Assessed Valuations:
$ 5,446,817,363
Assessed Value
39,831,091
Add Back: Exempt Property
$ 5,486,648,454
TotalAssessed Value
Legal Debt Margin:
$ 822,997,268
Debt limitations -15% of Total Assessed Value*
Debt Applicable to Limit $
Total Bonded Debt
Less: Special Assessment Bonds -
13,755,000
Revenue Bonds
Available for Repayment of General Obligation Bonds _
Total Debt Applicable to Limitation .
$ 809,242,268
Legal Debt Margin
*Section 43605 of the California Government Code
'. Source: City Finance Department, Hdl. Coren & Cone
-99-'
Table 9
City
of Diamond Bar
Computation of Direct and Overlapping Debt
June 30, 2005
(unaudited)
Gross Bonded % Applicable
Net Bonded
Government
Debt Balance To City
Debt
Los Angeles County Detention Facilities 1987 Debt Svc
$ 16,205,000
0.805
$ 130,525
LA Co Flood Control (Storm Drain Bond No 4) DS
1,990,000
0.817
16,249
Flood Control Ref. Bonds 1993 Debt Service
275,000
0.817
2;246
*Metropolitan Water District Three Valley Area 1112
419,390,000
0.775
3,249,962
Mt San Antonio Com Col Dis 2001 Ser B 04
75,000,000
13.866
10,399,719
Mt San Antomio Com Col Dis 2001 Ser A
27,795,000
13.831
3,844,333
Pomona Unified School District Refund. Ser 1997A DS
43,370,000
28.980
12,568,746
Pomona Unified School District 2002 Ser C DS
15,000,000
28.980
4,347,041
Pomona Unified SD Refund 2000 Series A Debt Service
19,675,000
28.980
5,701,869
Pomona Unified SD 1998 Series D Debt Service
9,595,000
28.980
2,780,658
Pomona Unified SD Refunding 2001 Ser A Debt Service
21,365,000
28.980
6,191,636
Pomona Unified SD 2002 Ser A Debt Service
9,535,000
28.980
2,763,269
Pomona Unified School District 2002 Ser B DS
14,750,000
28.980
4,274,591
Walnut Valley Unified SD Refund Series 1997 A DS
37,847,718
75.952
28,746,062 :
Walnut Valley Unified SD 2000 Series A DS
1,150,000
75.952
873,447
Walnut Valley Unified SD 2000 Series B DS
945,000
75.952
717,745 .
Walnut Valley Unified SD 2000 Series C DS
7,760,000
75.952
5,893,868
Walnut Valley Unified SD 2000 Series D DS
21,998,114
75.952
16,707,986
Total Gross Direct and Overlapping Bonded Debt
$ 109,209,952
2004/05 Assessed Valuation: $ 5,446,817,363
Debt to Assessed Valuation Ratios:
Direct Debt
0.00%
Overlapping Debt
2.01%
Total Debt
2.01%
Report reflects, general obligation debt which is being repaid through voter -approved indebtness.
It excludes, mortgage revenue, tax allocation bonds, interim financing obligations, non -bonded
`capital lease obligations and certificates of participation.
This fund is a portion of a larger agency, and is responsible for debt in areas outside the city:
Source: City Finance Department, Hdl Coren & Cone
:
_100-
Table 10
City of Diamond Bar
Residential and Commercial Construction and Bank Deposits
Last Ten Fiscal Years
(unaudited)
New Construction
Fiscal
Residential (1)
Commercial
Year
Units
Value
Units
Value
1995-96
26
$ 16,715,000.
0
$ -
1996-97
15
9,516,000
1
4,300,000
1997-98
66
32,539,000
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
2002-03
16
12,370,771
1
1,733,000-
2003-04
15
12,166,000
0
-
2004-05
19
16,751,000
0
-
Alterations and
Additions
Fiscal
Residential (1)
Commercial
Year
Units
Value
Units
Value -
1995 -96.
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
2002-03
847
13,388,981
59
3,022,200
2003-04
877
12,093,300
61
1,914,750
2004-05
698
11,210,690
66
3,519,790
Bank Deposits
06/30/96
$ 480,610,000
472,071,000
06/30/97
532,1.47,000
_ 06/30/98
557,969,000
06/30/99
636,590,000
06/30/00
744,419,000
06/30/01
898,305,000
06/30/02
1,076,100,000
06/30/03
.
1,225,541,000
06/30/04
1,374,808,000
06/30/05
(1) Includes multiple dwellings
Source: City's Contract Building
& Safety Provider,
Findley Reports
-101-
Table 11
City of Diamond Bar
Principal Property Taxpayers
Fiscal Year 2004105
(unaudited) .
2004-05
Percentage of Total
Taxpayer
Primary Use Assessed Valuation
Net Assessed Valuation
Opus Real Estate California
Commercial $
28,864,519
0.525%
Gem Gateway Limited Inc.
Commercial
25,515,268
0.464%
1022 South Grand Avenue Apartment
Residential
23,050,379
0.419%
Hidden Manna Corporation
Commercial
22,197,739
0.403%
Country Hills DB LLC
Commercial
21,118,272
0.384%
Muller Gateway LLC
Commercial
19,100,061
0.347%
Bridge Gate Partners LP
Commercial
18,810,650
0.342%
Martin Brattrud Properties
Commercial
15,914,689
0.289%
Margaret M. Tam Trust, Et. Al.
Residential
15,611,248
0.284%
J F Shea Company Inc.
Industrial
15,539,852
0.282%
$
205,722,677
3.739%
Source: City Finance Department
- 102 -:
Table 12
City of Diamond Bar .
Schedule of Insurance
June 30, 2005
(unaudited)
Type of Coverage
Limits/Deductibles
Insurer Policy period
Liability:
General Liability, Automobile Liability,
$50,000,000 limit each occurrence,
Self Insured Program/ 07/l/02 -Until
Bodily Injury, Property Damage,
$50,000,000 annual aggregate.
California Joint Powers suspended or
Insurance Authority. terminated.
Personal Injury.
Retained loss of $30,000 per
occurrence.
Special Liability:
Errors and ommissions, Employment
$50,000,000 limit each occurrence,
Self Insured Program/ 07/1/02 -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/ 07/01/04-06/30/06
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. 12/31/04-12/31/06
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. - 12/31/04-12/31/06
deductible of $1,000 per occurrence
Crime:
Public Employee Blanket
Fidelity Bond -
Faithful Performance Bond
$1,000,000 limit, deductible of
Robert F. Driver. Assoc. 01/01/04-04/01/06
Coverage 'O'
$2,500 per occurrence
Depositor's Forgery
$1,000,000 limit, deductible of
Robert R Driver Assoc. 01/01/04-04/01/06
Coverage 'B'
$2,500 per occurrence
Crime- Money & Securities
$1,000,000 limit, deductible of
Robert F. Driver Assoc. 01/01/04-04/01/06
Coverage 'C'
$2,500 per occurrence
Computer Fraud
$1,000,000 limit, deductible of
Robert F. Driver Assoc. 01/01/04-04/01/06
Coverage 'F
$2,500 per occurrence
Worker's Compensation:
Work related injury/illness claims for
$50,000_ Self Insured Program/ 10/01/04-10/01/06
temporary and permanent disability.
employers liability incl defending costs California Joint Powers
Insurance Authority.
Special Events:
Tenants/Users for Property
$1,000,000 per occurrence and
RobertF. Driver Assoc. 04/01/04-04/1/06
damage/bodily injury
aggregate per event. $5,000 medical
expense limit.
Source: City Finance Department
= 103
Table 13
City of Diamond Bar
Demographic and Miscellaneous Statistical Information
J 30 2002
une ,
(unaudited)
Date of Incorporation
...................................:....................................._ ...... April 18, 1989
Form of Government
..............................
................................................ :... Council -Manager
Area..........................
......:.....::::....:.:...............
.............-...-14.9 Square miles
Miles of Streets
.. ......:...........C.:........:.
.......................................... 137
Employees(full-time)
...............................................................................49
Employees(part-time)
............................
.............. ................. ..................... 48
Fire Protection
(Los Angeles County Consolidated Fire protection District)
Number of Stations
.........................................................................
.....,: 3
Numberof Officers
...... ........................
..................................................... 39
Sewers:
Sanitary Sewers
........:.:....:........:......................................................146.88
StormSewers
........ ......................
.................................................... 31.95
Recreation & Culture:
CommunityCenters
..............................
..................................................... 2
Parks...............................................................................11
Park Acreage (developed)
....:...........................................................................
62.7
Park Acreage (undeveloped)
........................................................................
........ 439
Education:
ElemantarySchools
............... .... ...........
..................................................... 9
MiddleSchools
........................................:.............................:.........3
HighSchools
...............................................................................2
Population of past ten years:*
Year
Population
Percentage Increase
1995
54,284
-0.41%
1996
56,003
3.17%
1997
56,659
1.17%
1998
57,271
1.08%
1999
58,300
1.80%
2000
59,100
1.37%
2001.
: 56,287
-4.76%
2002
58,100
3.22%q
2003
57,469
-1.09%
2004
59,487
3.51% .
2005
59,953
0.78%
*Source: State of California, San
Gabriel Valley Council of Governments
`
-104-
i able 14
City of Diamond Bar .
Schedule of Credits
Year Ended June 30, 2005
Name
Area of Contribution
Linda C. Lowry, City Manager
General Overview
Letter of Transmittal
Management Discussion & Analysis
David A. Doyle, Assistant City Manager
General Overview
Letter of Transmittal
Management Discussion & Analysis
Linda G. Magnuson, Finance Director
General Overview
Letter of Transmittal
Management Discussion & Analysis
Statistical Tables
Diehl, Evans & Company, L.L.P.
Financial Statements
Notes to Financial Statements
Marsha Roa, Public Information Manager
Cover and Divider Page Design
Source: City of Diamond Bar
-105-