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Home My WebLink AboutCAFR - FY 1993-94Year Ended June 30, 1994 CITY OF DIAMOND BAR, CALIFORNIA ANNUAL AUDIT REPORT Year Ended June 30, 1994 TABLE OF CONTENTS I Me", I. INDEPENDENT AUDITORS' REPORT 1 H. GENERAL PURPOSE FINANCIAL STATEMENTS Exhibit 1 - Combined Balance Sheet - All Fund Types and Account Groups 2 Exhibit 2 - Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types 3 Exhibit 3 - Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General, Special Revenue and Capital Project Fund Types 4 Exhibit 4 - Statement of Revenues, Expenses and Changes in Retained Earnings - All Proprietary Fund Types 5 Exhibit 5 - Statement of Cash Flows - All Proprietary Fund Types 6 Notes to Financial Statements 7-24 III. SUPPLEMENTAL INFORMATION Schedule 1 - General Fund - Statement of Revenues - Budget and Actual 25 Schedule 2 - General Fund - Statement of Expenditures - Budget and Actual 26 Schedule 3 - Combining Balance Sheet - All Special Revenue Funds 27-28 Schedule 4 - Combining Statement of Revenues, Expenditures and Changes in Fund Balances - All Special Revenue Funds 29-30 Schedule 5 - Combining Balance Sheet - All Capital Project Funds 31 Schedule 6 - Combining Statement of Revenues, Expenditures and Changes in Fund Balances - All Capital Project Funds 32 Thomas, Mfr}': 'r� hms3 v,,,``l,Smith An Accountancy Corporation Certified Public Accountants I QI II ' MI a City Council City of Diamond Bar Diamond Bar, California Donald L. Thomas, CPA (Retired) V.C. Smith, Jr., CPA Jerry D. Bigbie, CPA Richard A. Teaman, CPA We have audited the accompanying general purpose financial statements of the City of Diamond Bar, California, as of and for the year ended June 30, 1994, as listed in the table of contents. These financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Diamond Bar, California, as of June 30, 1994, and the results of its operations and the cash flows of its proprietary fund types for the year then ended in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The supplemental information listed in the table of contents is presented for purposes of additional analysis and is not a required part of the general purpose financial statements of the City of Diamond Bar, California. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole. JJ""' '-'0' 1 - � - I I October 7, 1994 4201 Brockton Avenue, Suite 100 e Riverside, California 92501 a Telephone (909) 682-4851 e Facsimile (909) 682-6569 ASSETS Cash (Notes 1 and 3) Accounts Receivable Interest Receivable Due from Other Funds (Note 4) Due from Other Governments (Note 5) Prepaid Expenditures Fixed Assets (Notes 1 and 6) OTHER DEBITS Resources Available for Long Term Obligations TOTAL ASSETS AND OTHER DEBITS LIABILITIES Accounts Payable Accred Liabilities Compensated Absences Payable - Short Term Due to Other Funds (Note 4) Deposits (Note 11) Claims and Judgements Payable Long Term Obligations (Notes 7, 8, and 9) TOTAL LIABILITIES EQUITY AND OTHER CREDITS Investment in General Fixed Assets Retained Earnings Unreserved - Undesignated Fund Balances (Note 10) Reserved for Receivable Reserved for Prepaid Expenditures Reserved for Encumbrances Reserved for Debt Service Reserved for Specific Projects and Programs Unreserved - Undesignated TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, EQUITY AND OTHER CREDITS CITY OF DIAMOND EAR, CALIFORNIA COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS June 30, 1994 Fiduciary 31,346 Proprietary Governmental Fund Types Totals - Fund Tvoes Account Groups Special Capital Internal General Revenue Proiect Service $ 234,013 ASSETS AND OTHER DEBITS $ 5,746,990 $ 5,765,120 $ 545,002 $ 412,316 128,441 5,073 135,950 2,326,958 857,880 60,953 89,165 2,091,251 235,707 289.384 289.384 910.482 163,416 Fiduciary 31,346 Fund 289,333 Totals - Tvoes Account Groups (Memorandum Only) Trust And General Long Term June 30 Agency Fixed Assets Obligations 1994 1993 $ 234,013 $ $ $ 12,703,441 $ 11,294,851 133,514 55,639 135,950 119,516 150,118 384,068 2,326,958 857,880 163,416 84,752 4,007,664 4,007,664 3,594,835 289.384 289.384 910.482 8 163 585 6005 900 634 167 575 732 234 013 4007 664 289 384 19 910 445 17 302 023 LIABILITIES, EQUITY AND OTHER CREDITS $ 1,081,870 $ 59,530 $ 95,713 $ $ $ $ $ 1,237,113 $ 1,429,961 90,276 12,842 3,859 106,977 85,432 2,548 2,548 150,118 150,118 384,068 105,129 234,013 339,142 257,332 327,982 289.384 289.384 910.482 1.279.823 222.490 99.572 -0- 234.013 289.384 2.125.282 3.395.257 575,732 823,605 88,154 192,029 9,150 289,384 5,000 275,733 124,404 5.677.619 5.315.648 401.041 4,007,664 6.883.762 5.783.410 534.595 575.732 -0- 4.007.664 4,007,664 3,594,835 575,732 460,655 823,605 31,346 84,752 289,333 190,231 289,384 910,482 405,137 11.394.308 8.634.465 17.785.163 13.906.766 8 163 585. 6005 900 634 167 575 732 234 013 4007 664 289 384 19 910 445 17 302 023 The accompanying notes are an integral part of this statement. -2- CITY OF DIAMOND BAR, CALIFORNIA COMBINED STATEMENT OF REVENUES, EXPEENDITURES AND CHANGES IN FUND BALANCES - EXHIBIT 2 ALL GOVERNMENTAL FUND TYPES Year Ended June 30, 1994 Totals - (Memorandum Only) Special. Capital Year Ended June 30 General Revenue Project 1994 1993 VENUES Taxes Special Assessments Licenses, Permits and Fees Intergovernmental Fines and Forfeits Use of Money and Property Other Revenues TOTAL REVENUES EXPENDITURES General Government Departmental General Government - Nondepartmental Public Safety Public Works Parks, Recreation andCulture Capital Outlay Debt Service: Principal'; Retirement Interest TOTAL EXPENDITURES, EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) Proceeds from Capital Lease EXCESS OF REVENUESAND®THER O SOURCES OVER (UNDER) USES FUND BALANCES - BEGINNING OF YEAR PRIOR PERIOD ADJUST (Note 1J) FUND BALANCES - BEGINNING OF YEAR - AS RESTATED FUND BALANCES - OF YEAR The accompanying notes; are an integral part of this statement. $ 4,981,235 $ 79,615 $ $ 5,060,850 $ 4,494,173 499,030 499,030 469,671 740,308 93,132 132,395 965,835 724,694 2,926,724 2,612,322 5,539,046 5,910,715 88,137 99,293 187,430 123,242 242,248 221,952 2,009 466,209 451,077 37.492 880 38.372 101.305 9.016.144 3.606.224 134.404 12.756.772 12,274,877 2,032,369 2,032,369 1,750,558 283,684 140,003 423,687 1,213,410 3,819,724 3,819,724 3,478,006 1,735,770 560,649 13,894 2,310,313 2,094,910 976,957 976,957 822,559 30,927 107,348 1,500,134 19638,409 1,876,098 450,000 100,000 550,000 100,000 14.790 14.790 9.329.431 808.000 1.628.818 11.766.249 11.335.541 (313,287) 2,798,224 (1,494,414) 990,523 939,336 219,792 (1,708,117) 1,300,930 (187,395) (�:9W) (93.495) 1,090.107 193 484 801128 1.239.336 4,454,255 4,668,942 728,079 9,851,276 8,524,302 2.523.002 24.361 2.547.363 87.638 6.977,257 4.693,303 728.079 12.398.639 8,611,940 6 883 762 5183 410 534 595 13 201 767 $9,851,276 -3- CITY OF DIAMOND BAR, CALIFORNIA - COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - EXHIBIT 3 BUDGET AND ACTUAL - GENERAL, SPECIAL REVENUE AND CAPITAL PROJECT FUND TYPES Year Ended June 30, 1994 -_ General Fund Special Revenue Funds Capital Proiect Funds -- Variances- Variances- Variances- Favorable Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable) REVENUES Taxes $ 5,226,600 $ 4,981,235 $ (245,365) $ 75,000 $ 79,615 $ 4,615 $ $ $ Special Assessments Licenses, Permits and Fees 812,800 740,308 (12,492) 469,435 100,000 499,030 93,132 29,595 (6,868) 127,400 132,395 4,995 Intergovernmental Fines Forfeits 3,035,000 2,926,724 (108,276) 4,868,920 2,612,322 (2,256,598) - and Use of Money and Property 60,500 200,000 88,137 242,248 27,637 42,248 75,000 97,800 99,293 221,952 24,293 124,152 2,009 2,009 Other Revenues 15.300 37.492 22.192 880 880 TOTAL REVENUES 9.350.200 9.016.144 (334.056) 5.686.155 3.606.224 (2,079.93D 127.400 134.404 7.004 EXPENDITURES - General Government- Departmental 2,124,350 2,032,369 91,981 General Government- Nondepartmental 326,650 283,684 42,966 192,350 140,003 52,347 Public Safety 3,853,275 3,819,724 33,551 - Public Works Parks, Recreation and Culture 2,111,229 950,610 1,735,770 976,957 375,459 (26,347) 689,208 560,649 128,559 13,894 (13,894) -- Capital Outlay Debt Service: 41,400 30,927 10,473 292,015 107,348 184,667 6,136,721 1,500,134 4,636,587 Principal Retirement Interest 450,000 (450,000) 182,980 100,000 82,980 14.790 (14.7901 TOTAL EXPENDITURES 9.407.514 9.329.431 78.083 1.173.573 808.000 365.573 6.319.701 1.628.818 4.690.883 -- EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (57,314) (313,287) (255,973) 4,512,582 2,798,224 (1,714,358) (6,192,301) (1,494,414) 4,697,887 OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) 485.546 219.792 (265.754) (6,235.148 (1,708.11 4.527.031 5.558.603 1.300.930 (4.257.673) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES 428 232 (93,495) S (521.T2?) 1722 566) 1.090.107 2 812 673 633 698) 19( 3,484) 440 214 FUND BALANCES - BEGINNING OF YEAR 4,454,255 4,668,942 728,079 PRIOR PERIOD ADJUSTMENT 2.523.002 24.361 FUND BALANCES - BEGINNING OF YEAR AS RESTATED 0 6.977.257 4.693.303 728.079 FUND BALANCES - END OF YEAR 15,783,410 534 595 The accompanying notes are an integral part of this statement. -4- d CITY OF DIAMOND -BAR, CALIFORNIA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES Year Ended June 30, 1994 OPERATING REVENUES Charges for Services TOTAL OPERATING REVENUES OPERATING ESES Contractual Services TOTAL OPERATING ESES OPERATING INCOME NON OPERATING REVENUES (EXPENSES) Interest Revenue INCOME BEFORE OPERATING TRANSFERS OPERATING TRANSFERS IN (OUT) NET INCOME RETAINEDEARNINGS - BEGINNING OF YEAR RETAINEDEARNINGS - END OF YEAR The accompanying notes are an integral part of this statement. EDIT 4 Internal Service Year Ended June 30 1994 1993 $ -0- $ -0- -0- -0- - 89,000 8.573 — 89,000 8,573 (89, 000) (8,573 16,682 16,581 — (72,318) 8,008 187,395 100,000 115,077 108,008 460,655 352,647 575 732 460 655 — -5- CITY OF DIAMOND BAR, CALIFORNIA STATEMENT OF CASH FLOWS - ALL PROPRIETARY FUND TYPES Year Ended June 30, 1994 �C11: Y The accompanying notes are an integral part of this statement. -6- Internal Service Year Ended June 30 1994 1993 CASH FLOWS FROM OPERATING ACTIVITIES Insurance Payments $(252.41 (8,573 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (252,416) (8.573) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Operating Transfers In 187,395 100,000 NET CASH PROVIDED (USED) BY NONCAPITAL FINANCING ACTIVITIES 187,395 100.000 CASH FLOWS FROM INVESTING ACTIVITIES Interest On Investments 16,682 16,581 NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES 16,682 16,581 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (48,339) 108,008 CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 460,655 352,647 CASH AND CASH EQUIVALENTS - END OF YEAR 412 316 460 655 RECONCILIATION OF NET OPERATING INCOME TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES Net Operating Income (Loss) $ (89,000) $ (8,573) Adjustments to Reconcile Net Operating Income to Net Cash Provided (Used) By Operating Activities: Change in Assets and Liabilities: (Increase) in Prepaid Insurance 163 416 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 252 416 8 573) Cash and cash equivalents includes all cash accounts as well as short-term investments with a maturity date within three months of the date acquired by the City. The accompanying notes are an integral part of this statement. -6- -7- CITY OF DIAMOND BAIL, CALIFORNIA — NOTES TO FINANCIAL STATEN EENTS IN ORDER OF PRESENTATION Year Ended June 30, 1994 — NOTE DESCRIPTION PAGE 1 Summary of Significant Accounting Policies 8-12 2 Property Tax Calendar 13 3 Composition of Cash 13-15 — 4 Interfund Receivables and Payables 15 5 Due from Other Governments 16 6 General Fixed Assets 16 7 Long -Term Obligations 16-17 8 Compensated Absences Payable 17 — 9 Lease Payable 17 10 Fund Balance/Retained Earnings Reserves 17-18 11 Deposits 18-19 12 Joint Venture 19-20 13 City Employees' Retirement Plan (Defined Benefit Pension Plan) 21-23 — 14 Expenditures in Excess of Appropriations 24 15 Contingencies 24 — -7- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City of Diamond Bar, California was incorporated April 18, 1989 as a General Law City. The City operates under a Council -Manager form of government and provides the following services: public safety (police), highways and street, parks, public improvements, community development (planning, building, zoning) and general administrative services. The financial statements of the City of Diamond Bar, California have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the government's accounting policies reflected in these financial statements are summarized as follows: A) Description of Entity Included within the financial reporting entity City of Diamond Bar, is solely the City of Diamond Bar. Other governmental agencies providing services either to the City in its entirety, or to a portion thereof included: State of California County of Los Angeles Tri- Valley Water District Walnut Valley Water District Pomona Unified School District Walnut Valley Unified School District Mount San Antonio Community College District California Polytechnic University Consolidated Fire Protection District The City of Diamond Bar does not exercise oversight responsibility over any of the above entities. Each of these agencies is governed by an independently - elected governing board other than the City Council of the City of Diamond Bar. These agencies are not financially dependent on the City, and the City does not have the ability to significantly influence their management or operations. Consequently, financial information for these agencies is not included within the scope of this financial report. _- As recommended by GASB Code Section J50.103, financial data for joint ventures which do not meet the criteria for inclusion within the reporting entity have been reported in the footnotes. B) Basis of Presentation - Fund Accounting The accounts of the City are organized on the basis of funds and account groups each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self -balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate. -8- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued B) Basis: of Presentation - Fund Accounting - Continued Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into five generic fund types and three broad fund categories as follows: Governmental Funds General Fund - The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in, another fund. Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of specific revenue resources (other than major projects) that are legally restricted to expenditures for specific purposes. Capital Project Funds - Capital Project Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by Proprietary and Trust Funds). Proprietary Funds Internal Service Funds - Internal Service Funds are used to account for goods or services provided: by one department to other departments on a cost reimbursement basis. The Internal Service Fund of the City of Diamond Bar consists solely of the Self -Insurance Fund. Fiduciary Funds Trust and Agency: Funds - Trust and Agency Funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governments, and/or other funds. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. - C) FixediAssets and Long -Term Liabilities The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund are determined by its measurement focus. All governmental funds are accounted for on a spending or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance (net current assets) is considered a measurement of "available spendable resources". Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources of "available spendable resources" during a period. -9- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued C) Fixed Assets and Long -Term Liabilities - Continued Fixed assets used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than intergovernmental funds. Public domain ("infrastructure") general fixed assets consisting of certain improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems, are not capitalized as general fixed assets. No depreciation has been provided on general fixed assets. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at their estimated fair value on the date donated. Long-term liabilities expected to be financed from governmental funds are accounted for in the General Long -Term Obligation Account Group, not in the governmental funds. The two account groups are not "funds". They are concerned only with the measurement of financial position. They are not involved with measurement of results of operations. Noncurrent portions of long-term receivables due to governmental funds are reported on their balance sheets, in spite of their spending measurement focus. Special reporting treatments are used to indicate, however, that they should not be considered "available spendable resources", since they do not represent net current assets. Recognition of governmental fund type revenues represented by noncurrent receivables is deferred until they become current receivables. Noncurrent portions of long-term loans receivable are offset by fund balance reserve accounts. Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by non-current liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund expenditures or fund liabilities. They are instead reported as liabilities in the General Long -Term Obligation Account Group. All proprietary fund types are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Their reported fund equity (net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net total assets. D) Basis of Accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. 50 CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 1) SiTAMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued D) Basis of Accounting - Continued All governmental funds are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become measurable and available as net current assets. The primary revenue sources susceptible to accrual are sales taxes, property taxes, special assessments, fines and forfeitures which are considered "measurable" when in the hands of intermediary collection governments and are recognized as revenue at that time. Anticipated refunds of such taxes are'' recorded as liabilities and reductions of revenues when they are measurable and their validity seems certain. Expenditures are generally recognized under the accrual basis of accounting. Exceptions to this general rule are (I) principal and interest on general long-term debt which is recorded as expenditure on its due date (2) disbursements for inventory type items are considered expenditures at the time of purchase and (3) expenditures are not divided between years by recording of prepaid expenses. All proprietary funds are accounted for using the accrual basis of accounting. recognized when they are incurred. E) Budgets and Budgetary Accounting Their revenues are recognized when they are earned, and their expenses are The City uses the following procedures in establishing the budgetary data reflected in the financial statements. 1) Before the beginning of the fiscal year the City Manager submits to the City Council a proposed budget for the. year commencing the following duly 1. 2) Public hearings are conducted to obtain taxpayer comments. 3) The budget is subsequently adopted through passage of a resolution. 4) All appropriated amounts are as originally adopted or as amended by the City Council and lapse at year end. 5) Encumbrances, and Continuing Appropriations are rebudgeted on July 1 by Council action. 6) Original appropriations are modified by supplementary appropriation and transfers among budget categories. The City Council approves all significant changes. 7) Formal budgetary integration is employed as a management control device during the year for the General, Special Revenue and Capital Project Funds. 8) Budgets for General, Special Revenue and Capital Project Funds are adopted on a basis consistent with generally accepted accounting principles. -11- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued - F) Appropriations Limit Under Article XUIB of the California Constitution (the Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller or returned to - the taxpayers through revised tax rates, revised fee schedules or other refund arrangements. For the fiscal year ended June 30, 1994, proceeds of taxes did not exceed appropriations. G) Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary integration in the Governmental Fund Types. Encumbrances outstanding at year-end are reported as reservations of fund balance since they do not constitute expenditures or liabilities. H) Investments - Investments are stated at cost (see Note 3), except that assets of the deferred compensation plan agency fund are reported at fair market value rather than cost, in accordance with GASB, Statement 2. If market values decline below cost, no loss is recorded if such declines are considered temporary. I) Claims and Judgments Claims and judgments are accounted for in accordance with GASB Codification Section C50.I lo, which requires that expenditures for claims be recognized when it is probable that the liability has been incurred at year end and the amount of the loss can be reasonably estimated. J) Prior Period Adjustment Included in the General Fund is a prior period adjustment increasing fund balance by $2,523,002 for $2,332,789 in prior years' property tax revenue relating to the settlement with the County of Los Angeles, and $190,213 reversal of prior years' claims and judgements expenditures. Included in the Traffic Safety Fund is a prior period adjustment of $24,361 increasing fund balance for prior year revenues. 1K) Comparative Data Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the City's financial position and operations. However, comparative (i.e., presentation of prior year totals by fund type) data have not been presented in each of the statements since their inclusion would make the statements unduly complex and difficult to read. L) Total Columns on Combined Statements Overview Total columns on the Combined Statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. -12- CITY OF DIAMOND DAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 2) PROPERTY TAIL CALENDAR Property taxes are assessed and collected each fiscal year according to the following property tax calendar: Lien date March 01 Levy Date July 01 to June 30 Due date November 01 - 1st installment March 01 - 2nd installment Delinquent date December 10 - 1st installment April 10 - 2nd installment Under California law, property taxes are assessed and collected by the counties up to I % of assessed value, plus other increases approved by the voters. The property taxes go into a pool, and are then allocated to the cities based on complex formulas prescribed by the state statutes. 3) COMPOSITION OF CASH - $12,703,441 The City of Diamond Bar maintains a cash and investment pool that is available for use for all funds. Each fund type's position in the pool is reflected in the combinedbalance sheet as cash. Cash and investments by credit risk, carrying amount and market value of investments at June 30, 1994, consisted of the following: Carrying Market Category Amount Value 1 2 3 Fiscal Agent Investments - Mutual Funds ** $ 233,274 $ 233,274 $ $ $ Demand Accounts* 232.736 232.736 232.736 466,010 466,014 232 736 State of California - LAIF 12,373,251 12,373,251 Petty Cash 775 775 Total Cash and Investments (Bank Balances) 12,840,036 12,840,036 Outstanding Checks (136.595) (136.595) Total Cash and Investments (Book Balances) $ 12.703.441 12,703.441 * 100 Percent Insured or Collateralized ** Not Subject to 'categorization. -13- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 3) COMPOSITION OF CASH - $12,703,441- Continued Classification of Deposits and Investments by Credit Risk GASB statement 3 requires that deposits and investments be classified into three categories of credit risk. These categories are as follows: Deposits: Category 1 - Deposits which are insured or collateralized with securities held by the City or by its agent in the City's name. Category 2 - Deposits which are collateralized with securities held by the pledging financial institution's trust department or agent in the City's name. Category 3 - Deposits which are uncollateralized, or collateralized with securities held by the pledging financial institution or by its trust department or agent but not in the City's name. Investments: Category 1 - Includes investments that are insured or registered or for which the securities are held by the City or its agent in the City's name. Category 2 - Includes uninsured and unregistered investments for which the securities are held by the broker's or dealer's trust department or agent in the City's name. Category 3 - Includes uninsured and unregistered investments for which the securities are held by the broker or dealer or by its trust department or agent but not in the City's name. The following disclosures are made in accordance with Statement Number 3 of the Governmental Accounting Standards Board: Authorized Investments Under provisions of the City's Investment Policy the City Treasurer may deposit funds in the following investment media to the extent permitted by applicable law: (1) Securities of the U.S. Government or by its agencies; (2) certificates of deposit or time deposits placed with commercial banks or savings and loan companies; (3) bankers acceptances; (4) negotiable certificates of deposit; (S) commercial paper, (6) Local Agency Investment Fund; (7) repurchase agreements; (8) passbook savings deposits; (9) money market funds; (10) investment agreements or contracts representing unconditional obligations; (11) Tax-exempt obligations. The City selects its investments based on safety, liquidity and yield. -14- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 3) COMPOSITION OFC - $12,703,441- Continued Local Agency Investment Fund (LAIF) The LAIF is a special fund of the California State Treasury through which local governments may pool investments. Each city may invest up to $20,000,000 in the fund. Investments in LAIF are highly liquid, as deposits can be converted to cash within twenty-four hours without loss of interest. Investments with LAW are secured by the full faith and credit of the State of California. Collateral for Deposits Under the provisions of the California. Government Code, California banks and savings and loan associations are required to secure a city's deposits by pledging government securities as collateral. The market value of the pledged securities must equal at least 110 % of the city's deposits. California law also allows financial institutions to secure city deposits by pledging first trust deed mortgage notes having a value of 150 % of a city's total deposits. The collateral for certificates of deposit is generally held in safekeeping by the Federal Home Loan Bank in San Francisco as the third. -party trustee. The securities are physically held in an undivided pool for all California public agency ,depositors. The State Public Administrative Office for public agencies and the Federal Home Loan Bank maintain detailed records of the security pool which are coordinated and updated weekly. The City Treasurer, at his or her discretion, may waive the 110 % collateral requirement for deposits which are insured up to $100,000 by the FDIC. 4) INTERFUND RECEIVABLES AND PAYABLES - $150,118 The balances due from and due to other funds as of June 30, 1994 are as follows: Due From: Gas Tax $ 2,500 Prop. C - Transit 49,573 Community Development Block Grant 52,059 Prop. A - Safe Parks 34,833 Traffic Safety 11.153 -15- Due To: General Fund $ 60,953 Capital Improvement Fund 89,165 CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 5) DUE FROM OTHER GOVERNMENTS - $2,326,958 Included in due from other governments is $1,592,913 due from the County of Los Angeles in accordance with the settlement agreement between the City and the County. 6) GENERAL FIXED ASSETS - $4,007,664 Activities relating to the general fixed assets are presented as follows: Beginning Balance Additions Deletions Ending Balance General Government Furniture and Fixtures $ 117,265 $ 37,796 $ $ 155,061 Vehicles and Equipment 340.641 129,068 12.930 456,779 Total General Government 457.906 166.864 12,930 611,840 Community Services New Matured Indebtedness During Year Ending Balance Compensated Absences Payable N/A N/A NIA Land Buildings 1,961,615 65,025 789,883 $ 89,384 1,961,615 854,908 Improvements 579,301 579,301 Construction In Progress 530.988 N/A 530,988 (1) -0- Total Community Services 3.136,929 789.883 530,988 3.395.824 Total General Fixed Assets $ 3,594,835 956,747 543,918 $ 4,007,664 (1) The deletion in Construction In Progress represents constructed assets completed and placed in service and has been included with the additions to Buildings. 7) LONG-TERM OBLIGATIONS - $289,384 Activities relating to long-term obligations are presented as follows: Date of Years of Description Issue Maturity Rates of Interest Amount Authorized Beginning Balance New Matured Indebtedness During Year Ending Balance Compensated Absences Payable N/A N/A NIA $ N/A $ 90,629 $ $ 1,245 $ 89,384 (Note 7) Advances - County of L.A. 4/18/89 ** * N/A 519,853 519,853(l) -0- Lease Payable (Note 8) 7-1-92 1992-1995 Variable 400,000 300.000 100.000 200,000 Totals 910 482 -0- 621 048 289 384 Los Angeles County Treasury Pool Rate ** - As Monies Become Available (1) This amount represents principal retirement of $450,000 and a prior period adjustment of $69,853. -16- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 7) LONG-TERM OBLIGATIONS - $289,384 - Continued The future debt requirements are presented below: Lease Payable Year Principal Interest 1995 $ 100,000 $ 9,860 1996 100.000 4.930 200 000 L__14.,790 8) CONTENSATED ABSENCES PAYABLE - $89,384 _ After twelve months continuous service with the City, full time employees receive from ten (10) to twenty (20) days vacation each year depending upon length of service. Vacation can be accumulated up to a maximum of 20 days. Unused vacation may be cashed in upon leaving employment with the City. City -employees receive 3.08 hours of sick leave per pay period and can be accumulated up to a maximum of 144 hours. Unused sick leave may be cashed in upon leaving employment at the rate of 1/2 the employee's current rate of pay. Other than $2,548 considered short-term, the liability for compensated absences will be funded, when required, from future City operations. 9) LEASE PAYABLE: - $200,000 The City; has entered into a lease agreement as lessee for financing the acquisition of a reservoir site. This agreement qualifies as a capital lease for accounting purposes and, therefore, the lease has been recorded at the present value of the future minimum lease payments. Payments of principal and interest are payable in annual installments commencing July 1, 1992. The interest payments are based on the average annual percentage interest paid on public investments made through the Local Agency Investment Fund of the State of California. 10) FUND BALANCE/RETAINEDBALANCE/RETAINED EARNINGS RESERVES Reserves segregate portions of fund balance and retained earnings that are not available spendable resources. The various reserves established as of June 30, 1994 are described below and tabulated as follows: Reserved For: Receivable Encumbrances Debt Service Specific Projects and Programs Total General Special Revenue Capital Project Fund Funds Funds $ 823,605 $ $ 88,154 192,029 9,150 289,384 5.000 275.733 124.404 L1206,143 S 467.762 $ 133.554 -17- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 10) FUND BALANCE/RETAINED EARNINGS RESERVES - Continued Reserved for Receivable - These reserves represent the noncurrent portion of the City's receivables which are not available spendable resources. Reserved for Encumbrances - These reserves represent the portion of purchase orders awarded for which the goods or services had not yet been received at June 30, 1994. Although all appropriations lapse at year-end even if encumbered, the City intends either to honor the contracts in progress or to cancel them. Reserve for encumbrances are rebudgeted on July 1, by Council action. Reserved for Debt Service - These reserves for Debt Service represent reserves accumulated by the City of Diamond Bar that are legally restricted to the payment of long-term debt principal and interest amounts that mature in future years. Reserved for Specific Projects and Programs - These reserves represent specific projects and programs for which Council has made commitment toward completion. 11) DEPOSITS - $339,142 Included in this amount is Deferred Compensation as follows: The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all City employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under this plan, all property and rights purchased with these amounts and all income attributable to those amounts, property or rights are (until made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the Plan), subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the City in the amount equal to the fair market value of the deferred account for each participant. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. -18- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 11) DEPOSITS - $339,142 - Continued The following is a summary of the increases and decreases of the fund for the year ended June 30, 1994. 12) JOINT VENTURE Fund Assets, Beginning of Year $ 178,845 Deposits 54,069 Interest 9,458 Administrative Expenses (491) Disbursements (7.868) Fund Assets, End of Year L2L4,013 The City is a member of the Southern California Joint Powers Insurance Authority (Authority). The following joint venture disclosures are made in compliance with GASB Code Section J50.103: A) Description of Joint Powers Authority The Authority is comprised of 65 members and is organized under a Joint powers Agreement pursuant to the California Government Code. The purpose of the Authority is to arrange and administer programs of insurance for the pooling of self-insured losses and to purchase excess insurance coverage. Each member city has a representative on the Board of Directors. Officers of the Authority are elected annually by the Board members. B) Self -Insurance Programs of the Authority General Liability Insurance: Annual deposits are paid by member cities and are adjusted retrospectively to cover costs. Each member city, including Diamond Bar, self -insures for the fust $10,000 of each loss. Participating cities then share in the next $10,000 to $500,000 per loss occurrence. Specific coverage includes comprehensive and general automotive liability, personal injury, contractual liability, errors and omissions and certain other coverage. Beginning with fiscal ;year 1987, the Authority became fully self-insured. Separate deposits are collected from member cities to cover claims between $500,000 and $10,000,000. These deposits are also subject to retrospective adjustment. Workers' Compensation: Periodic deposits are paid by member cities and are adjusted retrospectively to cover costs. Each member city has a specific retention level. Member cities do not share or pay losses of other cities under $50,000. Losses of $50,000 to $250,000 are prorated among all participating cities on a payroll basis. Losses in excess of $250,000 are covered by excess insurance purchased by the participating cities, as apart of the pool, to a limit of $10 _ million. The City of Diamond Bar does not participate in the Authority's Workers' Compensation Program. Property Protection: The City of Diamond Bar participates in the All Risks Property Protection Program, which is primarily underwritten by a casualty insurance company. The annual deposits paid by participating member cities are based upon deductibility levels and are not subject to retroactive adjustments. _ -19- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 12) JOINT VENTURE - Continued C) Condensed Financial Information of the Authority Noted below is the condensed audited balance sheet of the Authority as of June 30, 1992 and 1993: 1992 1993 —. Assets 70 844 475 $ j6,086,530 Liabilities to Member Cities (All Current) $ 63,816,905 $ 58,310,507 Fund Equity - Reserved for Insurance Claims and Losses 7,027,570 17,776,023 $ 70,844,475 $ 76,086,530 As a result of operations for the year ended June 30, 1993, fund equity, reserved, increased by $10,748,453. Noted below is the condensed audited statement of revenues, expenditures, and changes in fund equity of the Authority for the year ended June 30, 1992 and 1993: 1991-92 1992-93 Revenues $ 26,962,103 $ 22,588,167 Expenditures 26,140.434 11,839,714 Excess of Revenues Over Expenditures 821,669 10,748,453 Fund Equity - July 1 6,205,901 7,027.570 Fund Equity - June 30 7027 570 $ 17,776,023 The Authority has no long-term debt. June 30, 1994 information was not available at the date of this report. The aforementioned information is not included in the accompanying financial statements. Separate financial statements of the Insurance Authority may be obtained at 4952 La Palma Avenue, La Palma, California 90623. -20- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 13) CITY E ' RETIREMENT PLAN (Defined Benefit Pension Plan) Plan Description The City of Diamond Bar contributes to the California Public Employees Retirement System (PERS), an agent multiple -employer public employee retirement system that acts as a common investment and administrative agent for participating public entities within the State of California. The total covered payroll for employees participating in the System for the year ended June 30, 1994 was $1,152,693. The total payroll for the year was $1,187,346. All full-time and part-time benefitted City employees are eligible to participate in the System. Part-time non -benefitted hourly employees do not participate in the system. Benefits vest after five years of service. City employees who retire at or after age fifty with five years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount that varies from 1.092 percent at age fifty to a maximum of 2.418 percent at age sixty-three of the three highest years' salary for non -safety employees for each year of credited service. The system also provides death and survivor's benefits. These benefit provisions and all other requirements are established by State statute and City ordinance. Employee and Employer Contribution Obligations The City makes the contributions required of City employees on their behalf and for their account. The rate is set by statute and therefore remains unchanged from year to year. The present rate for local miscellaneous members is 7 % of their annual wages. The City is required to contribute the remaining amounts necessary to fund the benefits for its members, using the actuarial basis recommended by the PERS actuaries and actuarial consultants and adopted by the Board of Administration. Funding Status and Progress The amount shown below as the "pension benefit obligation" is a standardized measure of the present value of pension benefits, adjusted for the effects of step -rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help assess the funding status of the system on a going -concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure is the actuarial present value of credited projected benefits and is independent of the funding method used to determine contributions to the System. The pension benefit obligation was computed as part of an actuarial valuation performed as of June 30, 1993. Significant actuarial assumptions used in the valuation include (a) a rate of return on the investment of present and future assets of 8.75 percent a year compounded annually, (b) projected salary increases of 5.25 percent a year compounded annually, attributable to inflation, and across the board real salary increases, (c) additional projected salary increases of 1.75 percent a year, attributable to seniority/merit, and (d) no post-retirement benefit increases. -21- CITY OF DIAMOND BAR, CALIF ORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 13) CITY EMPLOYEES' RETIREMENT PLAN (Defined Benefit Pension Plan) - Continued The total unfunded pension benefit obligation applicable to the City employees was $(90,405) at June 30, 1993, as follows: Pension Benefit Obligation: Retirees and Beneficiaries Currently Receiving Benefits and Terminated Employees Not Yet Receiving Benefits $ 17,624 Current Employees: Accumulated Employee Contributions Including Allocated Investment Earnings 222,777 Employer -Financed Vested -0- Employer-Financed. Non Vested 143.590 Total Pension Benefit Obligation 383,991 Net Assets Available for Benefits At Cost (Market Value = $564,065) 474.396 Unfunded pension Benefit Obligation 90 405) Changes In The Pension Benefit Obligation From Last Year Due To: Changes in Benefit Provisions Changes in Actuarial Assumptions 2 53S Actuarial information relating to the plan was not available from PERS at June 30, 1994. Actuarially Determined Contribution Requirements and Contribution Made PERS uses the Entry Age Normal Actuarial Cost Method which is a projected benefit cost method. That is, it takes into account those benefits that are expected to be earned in the future as well as those already accrued. According to this cost method, the normal cost for an employee is the level amount which would fund the projected benefit if it were paid annually from date - - of employment until retirement. PERS uses a modification of the Entry Age Cost method in which the employer's total normal cost is expressed as a level percent of payroll. PERS also uses the level percentage of payroll method to amortize any unfunded actuarial liabilities. The amortization period of the unfunded actuarial liability ends on June 30, 2019. The significant actuarial assumptions used to compute the actuarially determined contribution requirement are the same as those used to compute the pension benefit obligation, as previously described. -22- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 13) CITY EMPLOYEES' RETIREMENT PLAN (Defined Benefit Pension flan) - Continued The contribution to the system for 1994 of $153,735 was made in accordance with actuarially determined requirements computed through an actuarial valuation performed as of June 30, 1993. The contribution consisted of (a) $153,746 normal cost (13.338 percent of current covered payroll) and (b) ($11) amortization of the unfunded actuarial accrued liability (-0.001 percent of current covered payroll). The contributions were paid entirely by the City. �►� r= '0111 11431EN 911W, Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. System wide ten year trend information may be found in the California Public Employees' Retirement System Annual Report. Ten year trend information for theCityof Diamond Bar is not provided in this report. Therefore, within the City's financial statement, ten years of historical trend information are required since the annual report for PERS does not reflect information for individual agencies. 1989-90 was the first year the City participated in PERS. Until ten years of data are available, as many years as are available should be presented Therefore, the trend information for 1989-90 through 1993-94 is summarized as follows: *Not yet ,available **These contributions were made in accordance with actuarially determined requirements. There were no post employment benefits provided to City employees other than the pension plan. -23- (5) (6) (7) (4) Estimated Unfunded Pension Employer Contributions (1) (2) Unfunded Annual Covered Benefit Obligation Expressed, As Fiscal Year Net Assets Pension (3) Pension Benefit Payroll For As A Percentage A Percentage Of Annual Ending Available For Benefit Percentage Funded Obligation The Succeeding Of Covered Payroll Covered Payroll June 30 BenefitsObli a¢ tion (1)/(2) (2)-(l) Fiscal Year (4)/(5) ** 1990 $ 25,070 $ 28,880 86.8% $ 3,810 $ 312,210 1.2% 13.856% 1991 131,800 122,060 108.0% (9,740) 936,030 -1.0% 13.856% 1992 310,680 263,230 118.0% (47,460) 1,106,050 -4.3% 14.874% 1993 474,390 383,990 123.5% (90,410) 1,009,850 A.0% 13.602% 1994 * * *- 13.337% *Not yet ,available **These contributions were made in accordance with actuarially determined requirements. There were no post employment benefits provided to City employees other than the pension plan. -23- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1994 14) EXPENDITURES IN EXCESS OF APPROPRIATIONS Excess of expenditures over appropriations in individual funds are as follows: Fund Excess Gas Tax Fund $ 16,348 These were financed through beginning fund balances and revenues in excess of estimated revenues. 15) CONTINGENCIES As of June 30, 1994, in the opinion of the City Administration, there are no outstanding matters which have a significant effect on the financial position of the funds of the City. -24- Property Taxes Sales Tax Transient Occupancy Taxes Franchises Real Property Transfer Taxes Licenses and Permits Fines and Forfeits Interest Motor Vehicle in Lieu Fees Mobile Home in Lieu Fees Homeowners' Property Tax Relief Miscellaneous Revenue from Other Governments Refunds and Reimbursements Other Revenues CITY OF DIAMOND BAR, CALIFORNIA GENERAL FUND - STATEMENT OF REVENUES - BUDGET AND ACTUAL Year Ended June 30, 1994 192 Budget $ 2,201,600 2,200,000 150,000 615,000 60,000 812,800 60,500 200,000 2,500,000 7,000 25,000 503,000 15.300 9 350 200 Actual $ 1,881,800 2,102,567 220,988 652,108 123,772 740,308 88,137 242,248 2,494,055 731 35,273 396,665 366 37.126 9 016 144 City Council City Attorney City Manager City Clerk Finance Community Promotion Planning Building and Safety Emergency Preparation General Government Insurance Police Fire Animal Control Public Works Community Services Parks Capital Outlay Principal Retirement TOTAL CITY OF DIAMOND BAR, CALIFORNIA GENERAL FUND - SCHEDULE 2 STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL Year Ended June 30, 1994 -26- Budget Actual $ 93,910 $ 92,956 420,000 405,012 336,000 327,585 238,440 237,448 196,750 185,537 119,650 92,830 473,900 473,026 220,000 194,975 25,700 23,000 326,650 283,122 562 3,795,749 3,762,539 7,526 7,359 50,000 49,826 2,111,229 1,735,770 621,100 632,453 329,510 344,504 41,400 30,927 450.000 $ 9.407.514 9 329 431 CITY OF DIAMOND BAR, CALIFORNIA COMBINING BALANCE SHEET - ALL SPECIAL REVENUE FUNDS June 30, 1994 SCHEDULE 3 Page 1 Community Traffic Gas Prop. A Solid Park Fees A.D. Development Safety Tax Transit Waste Fund SB 821 No. 38 Block Grant Cash $ $ 2,478,797 $ 917,535 $ 45,149 $ 275,733 $ 162,403 $ 251,121 $ Accounts Receivable 5,073 Due from Other Governments 11.153 48.074 8.814 62.765 TOTAL ASSETS 11 153 2 478 797 965 609 50 222 275 733 162 403 9 $ 62,765 LIABILITIES AND FUND BALANCES i�r Accounts Payable $ $ $ 6,188 $ 6,909 $ $ $ 20,752 $ 9,590 Accrued Liabilities 936 61 2,762 7,092 1,116 Due to Other Funds 11,153 2.500 52,059 TOTAL LIABILITIES 11.153 3.436 6.249 9.671 -0- -0- 27.844 62,765. FUND BALANCES Reserved for Encumbrances 121,747 Reserved for Specific Projects and Programs 275,733 Unreserved - Undesignated 2,353,614 959.360 40,551 162,403 232.091 TOTAL FBALANCES -0- 2,475.361 959.360 40.551 275.733 162.403 232,091 -0- TOTAL LIABILITIES AND FUND BALANCES 11 153 LI&78 797 965 609 50 222 275 733 162 403 259 935 =1765 L..62 -27- CITY OF DIAMOND BAIL, CALIFORNIA COMBINING BALANCE SHEET - SCHEDULE 3 ALL SPECIAL REVENUE FUNDS Page 2 June 30, 1994 A.D. A. D. Prop. C Air Quality Park Grant Prop. A Totals - June 30 No. 39 No. 41 Transit Improvement Fund Safe Parks 1994 1993 ASSETS _. Cash $ 42,524 $ 150,413 $1,381,608 $ 59,837 $ $ $ 5,765,120 $4,713,733 Accounts Receivable 5,073 6,160 Due from Other Governments 2,909 4,881 46,950 15,328 34,833 235,707 317,569 :- TOTAL ASSETS 45 433 155 294 1 428 5581 75,165 -0- 34 833 6,005,900 5 037 462 - LIABILITIES AND FUND BALANCES LIABILITIES _ Accounts Payable $ 1,108 $ 7,783 $ $ 7,200 $ $ $ 59,530 $ 114,422 Accrued Liabilities 285 590 12,842 1,571 Due to Other Funds 49,573 34.833 150.118 252,527 "- TOTAL LIABILITIES 1,108 8,068 49,573 7,790 -0- 34.833 222.490 368.520 FUND BALANCES Reserved for Encumbrances 3,818 192,029 52,925 Reserved for Specific Projects and Programs 275,733 Unreserved - Undesignated 44.325 147,226 1,375.167 67,375 5,315,648 4,616.017 TOTAL FUND BALANCES 44.325 147.226 1.378,985 67,375 -0- -0- 5,783,410 4.668,942 TOTAL LIABILITIES AND FUND BALANCES 45 433 155 294 1 428,5581 75,165 -0- 1__L4.,833 6005 900 5 037 462 -28- -29- CITY OF DIAMOND BAR, CALIFORNIA COMBINING STAMI ENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - SCHEDULE 4 ALL SPECIAL REVENUE FUNDS Page 1 Year Ended June 30, 1994 — Community Traffic Gas Prop. A Solid Park Fees A. D. Development Safety Tax Transit Waste Fund SB 821 No. 38 _ Block Grant REVENUES Franchises $ $ $ $ 79,615 $ $ $ $ Special Assessments 276,914 Licenses, Permits and Fees 93,132 Intergovernmental 1,288,588 517,536 5,218 19,761 135,443 Fines and Forfeits 99,293 Use of Money and Property 775 109,261 29,507 1,280 8,774 6,417 8,647 Other Revenues 880 TOTAL REVENUES 100.068 1.397.849 547.043 86.113 ' 101.906 26.178 285.561 136.323 — EXPENDITURES General Government - Nondepartmental 16,348 45,105 42,062 - Public Works 28,606 23,260 172,555 57,943 Capital Outlay 5.802 54.560 32.750 TOTAL EXPENDITURES -0- 16.348 79.513 65.322 40- -0- 227.115 90.693 — EXCESS OF REVENUES OVER (UNDER) EXPENDITURES 100,068 1,381,501 467,530 20,791 101,906 26,178 58,446 45,630 OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) (124.429) (1.349.535) (2.000) (14.360) (20.000) (45.630) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES (24.361) 31.966 465.530 20.791 87.546 6.178 58.446 -0- FUNDBALANCES - BEGINNING OF YEAR 2,443,395 493,830 19,760 188,187 156,225 173,645 PRIOR PERIOD ADJUSTMENT 24.361 FUND BALANCES - BEGINNING OF YEAR - AS RESTATED 24.361 2.443.395 493.830 19.760 188.18? 156.225 173.645 -0- FUNDBALANCES - ENDOF YEAR 2,475,361 -959 360 40 551 275 733 162 403 232 091 -29- CITY OF DIAMOND BAR, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL SPECIAL REVENUE FUNDS Year Ended June 30, 1994 REVENUES Franchises Special Assessments — Licenses, Permits and Fees Intergovernmental Fines and Forfeits _ Use of Money and Property Other Revenues TOTAL REVENUES General Government - Nondepartmental Public Works Capital Outlay TOTAL EXPENDITURES EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCES - BEGINNING OF YEAR PRIOR PERIOD ADJUSTMENT FUND BALANCES - BEGINNING OF YEAR - AS RESTATED FUND BALANCES - END OF YEAR SCHEDULE 4 Page 2 A. D. A. D. Prop. C Air Quality Park Grant Prop. A Totals -Year Ended June 30 No. 39 No. 41 Transit Improvement Fund Safe Parks 1994 1993 $ $ $ $ $ $ $ 79,615 $ 82,245 96,720 125,396 499,030 469,671 93,132 496,228 74,715 40,000 34,833 2,612,322 2,618,515 99,293 98,927 3,203 5,480 46,658 1,950 221,952 198,418 880 99.923 130.876 542.886 76.665 40.000 34.833 3.606.224 3.467.776 36,488 140,003 620,715 160,871 117,414 560,649 514,453 14.236 107.348 67.629 160.871 117.414 -0- 50.724 -0- -0- 808.000 1.202.797 (60,948) 13,462 542,886 25,941 40,000 34,833 2,798,224 2,264,979 (77.330) (40.000) (34.833) (1.708.117) (1.590.757) (60.948) 13.462 465.556 25.941 -0- -0- 1.090.107 674.222 105,273 133,764 913,429 41,434 4,668,942 3,994,720 24.361 105.273 133.764 913.429 41.434 4)- -0- 4.693.303 3.994.720 44 325147 226 1 378 985 67 375 $ 4) 5 783 410 4 668 942 -30- ASSETS Cash Due from Other Funds TOTAL ASSETS LIABILITIES Accounts Payable Accrued Liabilities TOTAL LIABILITIES FUND BALANCES Reserved for Encumbrances Reserved for Specific Projects and Programs Unreserved Undesignated TOTAL FUND BALANCES TOTAL LIABILlTIES AND FUND BALANCES CITY OF DIAMOND BAR, CALIFORNIA COMBINING BALANCE SHEET - ALL CAPITAL PROJECT FUNDS June 30, 1994 Grand Traffic Capital Totals - June 30 Avenue Mitigation Improvement 1994 1993 $ 413,720 $ $ 131,282 $ 545,002 $ 753,304 89.165 89.165 132.561 413 720 -0- 220 447 .634 167 885 865 LIABILITIES AND FUND BALANCES $ 3,050 $ $ 92,663 $ 959713 $ 157,744 479 3.380 3.859 42 3.529 -0- 96.043 99.572 157.786 9,150 9,150 14,698 124,404 124,404 401.041 401.041 713.381 410.191 -0- 124.404 534.595 728.079 413 720 -0- 220 447 634 167 885 865 -31- CITY OF DIAMOND BAR, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL CAPITAL PROJECT FUNDS Year Ended June 30, 1994 REVENUES Licenses, Permits and Fees Use of Money and Property TOTAL REVENUES EXPENDITURES Public Works Capital Outlay Debt Service: Principal Retirement Interest TOTAL EXPENDITURES EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) Proceeds from Capital Lease EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCES - BEGINNING OF YEAR FUND BALANCES - END OF YEAR -32- [�AHDIIIIJP Totals - Grand Traffic Capital Year Ended June 30. Avenue Mitigation Improvement 1994 1993 $ $ 10,000 $ 122,395 $ 132,395 $ 2,009 2,009 7,545 -0- 10,000 124,404 134,404 7,545 10,971 21,679 748,620 32.650 748.620 (32,650) (738,620) 453,382 2,923 13,894 7,776 729,835 1,500,134 1,792,027 100,000 100,000 100,000 14,790 14.790 124 404 847.548 1.628.818 1.899.803 (723,144) (1,494,414) (1,892,258) 847,548 1,300,930 1,367,473 400.000 (32,650) (285,238) 124,404 (193,484) (124,785) 442.841 285.238 -0- 728,079 852.864 410,191 124 404 534 595 7281079