HomeMy WebLinkAboutCAFR - FY 2000-01CITY OF DIAMOND BAR
Diamond Bar, California
Comprehensive Annual Financial Report
Year ended June 30, 2001
Prepared by
FINANCE DEPARTMENT
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
Year ended June 30, 2001
TABLE OF CONTENTS
INTRODUCTORY SECTION:
Letter of Transmittal
Officials of the City of Diamond Bar
Organization Chart
Certificate of Award for Outstanding Financial Reporting (CSMFO)
Certificate of Achievement for Excellence in Financial Reporting (GFOA)
FINANCIAL SECTION:
Independent Auditors' Report
General Purpose Financial Statements:
® Combined Balance Sheet - All Fund Types and Account Groups
• Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types
® Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual - All Governmental
Fund Types
• Combined Statement of Revenues, Expenses and Changes
in Retained Earnings - Proprietary Fund Type
® Combined Statement of Cash Flows - Proprietary Fund Type
® Notes to the Financial Statements
EXHIBIT Page
I
AA 2
CC 5
DD 7
EE 8
9
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
Supplemental Data:
General Fund:
® Comparative Balance Sheets
® Schedule of Revenue - Budget and Actual
j 0 Schedule of Expenditure - Budget and Actual
Special Revenue Funds:
® Combining Balance Sheet
® Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
® State Gas Tax Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Proposition A Transit Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Proposition C Transit Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Traffic Congestion Relief Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
A-1
27
A-2
28
A-3
29
B-1
31
B-2
33
B-3
35
B-4
36
B-5 37
B-6 38
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
EXHIBIT Page
Integrated Waste Management Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual B-7 39
Air Quality Improvement Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual B-8 40
Bicycle and Pedestrian Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual B-9 41
California Law Enforcement Equipment Program (CLEEP) Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual B-10 42
Park and Facility Development Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual B-11 43
Community Development Block Grant Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual B-12 44
Citizens Option for Public Safety (COPS) Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual B-13 45
Asset Seizure Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual B-14 46
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
, (Continued)
TABLE OF CONTENTS, (CONTINUED)
Landscape Maintenance Districts Funds:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
Capital Projects Funds:
® Combining Balance Sheet
® Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
® Grand Avenue Construction Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Capital Improvement Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Redevelopment Agency Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
Internal Service Funds:
Combining Balance Sheet
Combining Statement of Revenues, Expenses and Changes
in Retained Earnings
Combining Statement of Cash Flows
EXHIBIT
Page
B-15
47
C-1
49
C-2 50
C-3 51
C-4 52
C-5 53
D-1 55
D-2 56
D-3 57
*101111KION 10 115,11 55[s] "10 'I"T, -14'
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
General Fixed Assets Account Group:
® Comparative Schedule of General Fixed Assets by Source E-1 59
® Schedule of General Fixed Assets by Function and Activity E-2 60
®- Schedule of Changes in General Fixed Assets by Function and Activity E-3 61
Table No.
STATISTICAL SECTION:
General Governmental Expenditures by Function
1
62
General Governmental Revenues by Source
2
63
Secured Property Tax Levies and Collections
3
64
Assessed and Estimated Actual Values of Taxable Property
4
65
Property Tax Rates - All Direct and Overlapping Governments
5
66
Principal Taxpayers
6
67
Computation of Legal Debt Margin
7
68
Computation of Direct and Overlapping Debt
8
69
Schedule of Insurance in Force
9
70
Demographic and Miscellaneous Statistical Information
10
71
Residential and Commercial Construction
11
72
Ratio - Unreserved General Fund Balance to Annual
General, Fund Expenditures
12
73
Schedule of Credits
13
74
Robert S. Huff
Mayor
Carol Herrera
Mayor Pro Tem
Eileen R. Ansari
Council Member
Wen Chang
Council Member
Deborah H. O'Connor
Council Member
Recycled paper
WTV MR. MUIRT����
21825 E. Copley Drive • Diamond Bar, CA 91765-4178
November 26, 2001
(909) 860-2489 • Fax (909) 861-3117
www.CityofDiamondBar.com
Honorable Mayor and Members of the City Council
City of Diamond Bar
Diamond Bar, California
It is a pleasure to submit the Comprehensive Annual Financial Report of
the City of Diamond Bar for the fiscal year ended June 30, 2001.
Responsibility for both the accuracy of the presented data and the
completeness and fairness of the presentation, including all disclosures,
rests with the City. We believe the data presented is accurate in all
material respects; that it is presented in a manner designed to fairly set
forth the financial position and results of operations of the City as
measured by the financial activity of its various funds and account
groups; and that all disclosures necessary to enable the reader to gain a
full understanding of the City's financial affairs have been included.
The Comprehensive Annual Financial Report (CAFR) is presented in
three sections: introductory, financial and statistical. The introductory
section includes this transmittal letter, the City's organizational chart and
a list of principal officials. The financial section includes general purpose
financial statements and schedules, the independent auditor's report, and
the notes to the financial statements. The statistical section includes
selected financial and demographic information on a multi-year basis.
This fiscal year, the City was not required to conduct an annual single
audit in conformity with the provisions of the Single Audit Act of 1984
and the US Office of Management and Budget Circular A-133, Audits of
States Local Governments and Non -Profit Organizations. The
requirement for a Single Audit only pertains if an agency expends more
than $300,000 in Federal funds. This fiscal year the City of Diamond
Bar spent less in Federal funds.
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AWARDS
The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the City
of Diamond Bar for its comprehensive annual financial report for the fiscal year ended
June 30, 2000. 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 six consecutive
.years (fiscal years ended 1995 through 2000 ). 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 six consecutive years.
REPORTING ENTITY AND ITS SERVICES
This Comprehensive Annual Financial Report includes all funds and account groups of
the City. The City directly provides a limited range of services and contracts for several
other services. The City's significant reliance on contracted services has the benefit of
reducing expenses to the citizens of the City of Diamond Bar while simultaneously
providing the City with a high degree of flexibility in responding to changing economic
conditions. Contracted services include police protection, building and safety, street
maintenance, park maintenance, capital improvement projects, animal control, attorney
services and engineering. Staff provided services include: community development
(which includes planning, economic development, building and safety management, and
code enforcement), public works (which includes engineering, capital projects
administration, street maintenance contract management, traffic and transportation
matters, engineering contract management, solid waste contract management and
subsidized transit ticket sales), community services (which includes senior services,
park maintenance, recreation services and landscape maintenance), community
relations, grant administration, financial management, and administrative management.
All of these activities are included in this report.
The Los Angeles County Fire District provides fire protection, which is independent of
the City. Funds are collected through property tax bills and are disbursed directly to the
Los Angeles County Fire District by the Los Angeles County Tax Collector's Office.
Water services for the City are provided by the Walnut Valley Water District. Refuse
collection is provided by private waste collection companies. Additionally, schools are
provided by both the Walnut Valley Unified School District and the Pomona Unified
School District. Accordingly, none of these activities are included in this report.
Located at the junction of the 57 and 60 freeways, the City of Diamond Bar is at the hub
of the Los Angeles basin transportation network. A twenty-five mile radius
encompasses Pasadena, downtown Los Angeles, Long Beach, Irvine and Riverside.
Diamond Bar is a relatively young residential community of about 56,000, situated
among the meandering hills and valleys of Brea Canyon. Many desired services can be
found in Diamond Bar's
shopping and business centers. Recreational opportunities within the City include more
than 70 acres of developed park facilities and an 18 hole public golf course.
During the last few years, the City of Diamond Bar's economy has seen a marked
improvement. This fiscal year was no exception as illustrated by higher sales tax
revenues, and new home sales. Now, with the slow down in the economy and possible
shifts in State revenue, the future is not as stable as it once was. The City has, however,
built General Fund reserves to fill in any gaps created by the economy or the State. A
careful analysis of the FY 01-02 budget will be done mid -year to adjust anticipated
revenues as well as appropriations.
It was anticipated that the City's Community Redevelopment Agency's implementation
of its redevelopment plan would work to diminish blighted conditions within the city's
commercial areas. Unfortunately, the Redevelopment Agency's Economic
Revitalization Project Area plan came under attack by a small group of citizens. It was
challenged in court and the plan was upheld. The court's decision was appealed and the
favorable ruling was overturned. The City attempted to have the State Supreme Court
hear the case. Early in Fiscal Year 2000-2001, the City received the bad news that the
Supreme Court would not hear the case, virtually shutting down redevelopment agency
activities. As a result the City had to write-off the debt incurred by the Agency this
fiscal year. The City is now considering other mechanisms to encourage further
economic development.
MAJOR INITIATIVES
For the Year. In the FY00-01 budget, the City of Diamond Bar identified several major
programs and projects necessary to meet increased service levels and to prepare the City
for the future requirements of its residents. The following is a list of the significant
activities accomplished this fiscal year.
In its continuing effort to serve the citizens of Diamond Bar, the City has been striving
to improve and enhance civic and recreational opportunities within the City. The major
component of this plan has been to build a Community Senior Center and Library.
Summitridge Park was selected as the site of the new facilities. A conceptual design
was completed. The first phase to be built will be the Community/Senior Center. The
new Center will feature a large banquet room, meeting rooms, crafts rooms and
indoor/outdoor children's play areas. It is anticipated that this facility will provide
much needed supplemental meeting and activity space for the City's active senior
citizen organizations as well as provide space for the City's recreational activities. In
addition, staff will be continuing to pursue a funding mechanism for the second phase,
the library facility.
The proposed expansion and/or change in client base by the State to the Lanterman
Developmental Center continues to be of a concern to the City. The City has
established a City Lanterman Monitoring Committee. The committee meets on a
periodic basis and advises the City Council on issues regarding Lanterman.
Most Cities face the problem of records retention and management. The City of
Diamond Bar is no different. For the past few years the sheer volume of records and
space to store them has become an issue. This fiscal year, the City contracted with a
firm to assist staff in scanning documents into the City's computerized imaging system.
The main emphasis was to scan the historical engineering maps, drawings and building
permits into the system.
The City's Capital Improvement Program for FY 00-01 included several street
rehabilitation and maintenance projects. This included the rehabilitation and
streetscaping of Brea Canyon Road between Golden Springs Drive and Pathfinder Rd.
Water seepage on some of the City's streets has been an ongoing problem. This fiscal
year, water seepage problems were addressed and eliminated on Chinook Place and San
Leandro Drive. As a part of the ongoing street maintenance program, the City's
pavement management plan divided the City into five slurry seal areas. Area number
one was completed this fiscal year.
Transportation and traffic continue to be major sources of concern for the City. The
City has continued its popular transit subsidy and Dial -a -Cab programs. The transit
subsidy program offers a 20% to 50% discount to citizens on transit passes for Foothill
Transit, Metrolink, and the MTA. The other extremely popular program implemented
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by the City is the Dial -a -Cab program, which offers senior and handicapped citizens
taxicab transportation at a nominal rate. These programs are being funded by
Proposition A Transit Funds.
For several years, the City has been working through the dilemma of waste reduction
and monitoring which is required as a result of AB939. To -that end, the City searched
for input from its citizenry in the form of surveys and the formation of a solid waste task
force. This fiscal year saw the plan come to fruition with the award of exclusive
contracts for the collection of solid waste. Separate contracts were awarded, one for
residential and one for commercial. The residential contract includes an automated
curbside refuse and recycling program. As a result, the City launched a publicity
campaign to educate users. New trash containers were provided and everyone has been
encouraged to participate. The program has been extremely successful and recognized
statewide for its innovation.
The City has implemented an ongoing traffic signal program, which is designed to place
signals at several warranted locations throughout the community. Traffic signals and
improvements designed this year and encumbered include the intersections of Gateway
@ Valley Vista and Bridgegate at Lot 16 in the Gateway Corporate Center. In addition
improvements to the signal located at Grand and Golden Springs were designed.
The City Council has been and continues to be extremely interested in addressing the
needs and wants of its citizens. Of special interest has been the expansion of
recreational opportunities within the City. To this end a Trails Master Plan was
completed this year. The plan identifies and sets priorities for recreational hiking trails
and bike trails to be located thorough out the City.
The City continued its implementation of an aggressive economic development
program. The mainstay of this program has been the marketing of Diamond Bar. The
City has and will continue to participate in trade shows in an effort to draw attention to
the City's business friendly environment. Additionally, the City has also focused on
business retention activities. This year in partnership with the Chamber of Commerce,
the City implemented a plan to visit all commercial centers within the City. The
purpose of the visits is to talk to the tenants and find out what challenges they are facing
and what improvements could be made to make their businesses more successful.
For the Future - The accompanying financial statements reflect an excellent financial
condition. This has been accomplished through a combination of sound leadership and
management and a conservative financial approach.
'Of major concern, are efforts by the State to reduce municipal revenue resources. These
include motor vehicle license fees and gas tax revenues. This along with the taking of
revenue that was to "backfill" shortages in property tax revenues lost through
Proposition 13, is of a major concern to most California cities. The City of Diamond
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Bar has joined forces with other cities via various organizations to watch and lobby the
State legislature to preserve their future revenue resources.
The City Council had selected as its number one goal for FY00-01, the completion and
implementation of an Economic Development Strategic Plan. It was anticipated that the
Redevelopment Agency's activities would provide much needed resources to attract
businesses and revitalize the commercial areas of the City. With the invalidation of the
Diamond Bar Economic Revitalization Project Area, new alternatives must be
researched. It is anticipated that the Economic Development Strategic Plan will be
revised to show the City's new reality. In addition, it is anticipated a five-year financial
forecast will be done to assist staff in planning for the future.
FINANCIAL INFORMATION
Internal Control Structures
The management of the City is responsible for establishing and maintaining an internal
control structure designed to ensure that the assets of the City are protected from loss,
theft, or misuse and to ensure that adequate accounting data is compiled to allow for the
preparation of financial statements in conformity with generally accepted accounting
principles. The internal control structure is designed to provide reasonable, but not
absolute, assurance that these objectives are met. The concept of reasonable assurance
recognizes that (1) the cost of a control should not exceed the benefits likely to be
derived; (2) the valuation of costs and benefits requires estimates and judgements by
management.
Budgetary Controls
The City adopts an annual budget prepared on the modified accrual basis for all of its
governmental funds. Revisions that alter the total appropriations of any funds are
approved by the City Council. Prior year appropriations lapse unless they are re -
appropriated through the formal budget process. Expenditures may not legally exceed
appropriations at the fund level. During the year, there were supplemental budgetary
appropriations amounting to $1,552,850.
As demonstrated by the statements and schedules included in the Financial section of
this Report, the City meets its responsibility for sound financial management.
Accounting System
The City's accounting records for general government operations and agency funds are
maintained on a modified accrual basis. Accordingly, revenues are recognized when
measurable and available, and expenditures are recognized when goods and services are
received. Accounting for the City's internal service operations are maintained on the
accrual basis. In addition, the City maintains a General Fixed Assets Account Group to
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account for fixed assets acquired by the City which are not part of the internal service
funds. The City also maintains a General Long Term Debt Account Group to record the
City's long term debt obligations including accumulated employee vacation and sick
leave.
General Government Functions
The following schedule presents a summary of general, special revenue, and capital
project fund revenues for the fiscal year ended June 30, 2001 and the amount and
percentage of increases or decreases in relation to prior year revenues.
REVENUES
AMOUNT
PERCENT
OF TOTAL
INCREASE
(DECREASE)
FROM 1999-00
PERCENT
INCREASE
(DECREASE)
Taxes
6,579,488
34.28%
285,384
4.53%
Special Assessments
547,407
2.85%
366
0.07%
Licenses, Permits, and Fees
2,012,263
10.48%
345,537
20.73%
Intergovernmental
7,131,505
37.16%
(581,839)
-7.54%
Fines & Forfeitures
509,676
2.66%
(46,851)
-8.42%
Charges for Services
649,654
3.38%
(1,063,083)
-62.07%
Investment Income
1,672,384
8.71%
276,599
19.82%
Other Revenue
92,227
0.48%
32,784
55.15%
TOTAL
19,194,604
100.00%
(751,103)
Revenues for the 1999-00 fiscal year were $19,945,707 as compared with $19,194,604
for the 2000-01 fiscal year, a decrease of $751,103 or 3.91 percent. The following
paragraphs discuss the major changes in each category.
There were increases in several of the tax categories. The major increases were in Sales
Tax, Transient Occupancy Tax and Property Tax. The increase in Sales Tax is a sign of
the improving economy, and a result of the City's aggressive economic development
activities. The improving economy also fueled higher occupancy rates in the City's
hotels. Property taxes increased due to higher assessment valuations as well as the
reflection of new homes on the property tax rolls.
The Licenses, Permits and Fees category shows a 20.73 percent increase. This is mostly
due to an increase in building, planning and engineering fees. The reason for the
increase is due to the construction of a new housing tract and a new office building.
There was a $43,387 increase in Recreation Program revenues as well.
There was an overall decrease in Intergovernmental Revenues of $581,839 this fiscal
year. During FY00-01 the City received Federal transportation funds as a
reimbursement for costs related to improvements made to Golden Springs Drive. This
fiscal year the City received no Federal transportation funds. The City did however,
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exchange Proposition A -Transit money with another City. The related revenue was
$511,500. This revenue will be used to help fund the City's Community/Senior Center
project. There was just a slight variation in State revenues. Transit tax revenue
received from the County was up slightly due to an improved economy.
There was a decrease in Fines and Forfeiture Revenue this fiscal year. Impound.Fees
Revenue showed a small increase of $1,380. All other Fine and Forfeiture revenue
categories showed decreases.
The significant decrease in the Charges for Services Category is due to a developer
contribution of $1,200,000, which was received during FY00-01. This event was
unique to FY00-01 and as such there is no similar revenue received this fiscal year.
Investment Income continues to grow as a result of increased cash reserves held by the
City of Diamond Bar.
The major component of the increase in Other Revenues was an increase of $23,247 in
Rents and Concessions revenue. The City realized revenue from the lease of cell sites
as well as a full year's concession from drink vending machines that were placed in the
various parks throughout the City.
The following schedule presents a summary of general, special revenue, and capital
project fund expenditures for the fiscal year ended June 30, 2001 and the amount and
percentage of increases and decreases in relation to prior year's expenditures.
EXPENDITURES
AMOUNT
PERCENT
OF TOTAL
INCREASE
(DECREASE)
FROM 1999-00
PERCENT
INCREASE
(DECREASE)
General Government
3,308,606
16.25%
439,699
15.33%
Public Safety
4,960,517
24.37%
306,330
6.58%
Highway and Streets
947,922
4.66%
38,280
4.21%
Public Works
1,731,770
8.51%
(38,186)
-2.16%
Community Development
850,786
4.18%
(351,499)
-29.24%
Parks, Recreation & Culture
1,898,087
9.32%
92,598
5.13%
Capital Outlay
3,131,469
15.38%
(3,265,823)
-51.05%
Bad Debt
3,447,929
16.94%
3,447,929
-----
Debt Service
78,531
0.39%
(226,559)
-74.26%
TOTAL
20,355,617
100.00%
442,769
Expenditures for the 1999-00 fiscal year were $19,912,848 as compared with
$20,355,617 for the 2000-01 fiscal year, an increase of $442,769, or 2.22 percent. There
were varying degrees of change in all categories. The following paragraphs discuss the
changes in each category.
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The increase in the General Government category is due to several factors. There was an
increase in personnel costs within the City Manager's Division due to a reduction of
vacancies within the division including the City Manager position. The City Clerk's
Division showed a slight reduction due a staffing vacancy. General Government's
increase was also due to the commencement of a comprehensive E -Government study,
the creation of new City aerial photographs, as well as costs related to the relocation of
City Hall.
The increase in Public Safety expenditures shows the City Council continued emphasis
on traffic safety issues and crime prevention. The traffic safety emphasis consisted of
instituting traffic checkpoints and increased enforcement around the City's schools. The
Sheriff's Department's contract costs showed an increase of $49,063 due to increased
contract rates. This fiscal year saw an increase in Building and Safety activity due to the
construction of a housing tract and the construction of an office building amounting to
$223,678. This increase is offset by a corresponding increase in related revenues.
This fiscal year, the City participated with Southern California Edison in the retrofitting
of traffic signals with LED lights. This is the reason for the increase in Highways and
Streets expenditures in FY 00-01. It is anticipated that this improvement will reduce
energy costs in the long run.
The Community Development category was higher than average last fiscal year. This
fiscal year reduction in expenditures was also due to less being spent in Community
Development Block Grant Funds (CDBG). It is anticipated that future CDBG funds
will assist in the development of the Community/Senior Center and allocations are
being preserved in anticipation. Another component of the reduction in Community
Development category was lower personnel costs due to a staffing vacancy.
The increase in Parks, Recreation, and Culture was due primarily to an increase in
personnel costs. Last fiscal year the City Council made the decision to bring the
recreation services function in-house. Previously, the City contracted with the City of
Brea for recreation services. Personnel expenditures were higher this fiscal year as a
result of the full year implementation. In addition, this fiscal year the division brought
new and creative activities to the citizens of Diamond Bar. This included two Tiny Tot
programs, a Halloween Haunted House, Fall Festival and a larger City Birthday Party
commemorating the City's twelfth anniversary.
As reflected in the numbers, the City's Capital Improvement Program was significantly
lower from the previous year. There were, however, two major street improvement
projects completed this fiscal year and tenant improvements made in the City's newly
leased office space. Major capital outlay items for FY00-01 included the purchase of
furniture and equipment for the new City offices, one vehicle, and software and
equipment to eventually implement the City's cable TV channel (scheduled for FY01-
02).
Reflected this fiscal year is the write off of the bad debt associated with the City's
Redevelopment Agency. As stated in notes to the Financial Statements — Note 5, the
City of Diamond Bar's Redevelopment Agency project area was challenged in court.
Through a series of court actions, the project area was deemed invalid. As a result, the
Redevelopment Agency will receive no tax increment and therefore has no means of
repaying the debt of $3,447,929 owed to the City.
Fund Balances
The General Fund ended the 2000-2001 fiscal year with a fund balance of $17,758,845.
This is a decrease of $1,112,171 or approximately 5.89% decrease from the balance at
June 30, 2000. Of this, $421,722 is reserved for encumbrances. In addition, there is
$114,597 designated for specific projects and programs, including $99,390 for library
service enhancement. This leaves an undesignated fund balance of $17,221,276.
Cash Management
The City invests temporarily idle funds in accordance with the Government Code and
the investment policy approved by the City Council. During FY00-01, funds were
invested in the Local Agency Investment Fund (LAIF), which is administered by the
State Treasurer's Office and a Money Market Mutual Fund account with Well's Fargo
Bank. The.City invested in LAIF to the maximum balance of $30,000,000, any
available cash over and above the LAIF account is invested in the Money Market
Mutual Fund. The City manages all of its cash and investments on a pooled basis.
Interest earnings are allocated to the various funds based on their share of cash and
investment balances. The average yield on investments managed by the City was
6.05%.
Defined Benefit Pension Plan
The City has contracted with the California Public Employees Retirement System
(PERS) to provide retirement, disability, death and survivor benefits for all eligible full
and part-time City employees. The pension benefit obligation was computed as part of
an actuarial valuation performed as of June 30, 1999. The total over -funded pension
obligation applicable to the City employees was $609,320 at June 30, 1999. The City's
contribution to the system based on actuarially determined requirements was $215,521
for FY00-01.
For the three years ended June 30, 1999, 2000 and 2001 the total contribution to PERS
was 13.16%, 10.95%, and 11.05% respectively, of the annual covered payroll. The total
contribution paid by the City included employer contributions as well as member
contribution for which the City is contractually obligated to pay on behalf of its
employees.
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Debt Administration
As of June 30, 2001; the City of Diamond Bar had no outstanding general obligation
bonds. The City's only long-term debt obligation at June 30, 2001 was Compensated
Absences Payable. There was a reduction in this obligation due to the departure of
several long-term employees, including the former City Manager.
Risk Management
The City of Diamond Bar is a member of the California Joint Powers Insurance
Authority (CJPIA) for the purpose of pooling its general liability losses and claims with
the approximately 83 other member agencies. Each member agency retains the first
$30,000 of each claim. Claims above $30,000 are shared by all the member agencies up
to a maximum of $50,000,000 per occurrence.
The City has also established a self-insurance internal service fund to cover the City's
share of any potential losses not covered by the CJPIA. The City Council established a
policy of annually transferring $100,000 to the fund to create a self-insurance reserve.
Policy states that when the reserve reaches $1,000,000, the reserves are deemed to be
sufficient. No transfer was necessary this fiscal year, since the reserves reached that
milestone in fiscal year 1998-99. The self-insurance reserve at June 30, 2001 was
$1,313,569.
Acknowledgements
The preparation of this Comprehensive Annual Financial Report on a timely basis was
made possible by the dedicated service of the City's Finance Department staff, and
through the cooperation of the entire City staff. Each staff member has my sincere
appreciation for the contributions made in the preparation of this Report.
I would also like to thank our independent auditor, Conrad & Associates L.L.P., for its
expertise and advice in the preparation of the City's Comprehensive Annual Financial
Report.
In closing, without the leadership and support of the City Council of the City of
Diamond Bar, the preparation of this Report would not have been possible.
Sincerely,
Linda C. Low
City Manager
June 30, 2001
Robert S. Huff, Mayor
Carol Herrera, Mayor Pro Tem
Eileen R. Ansari, Council Member
Wen Chang, Council Member
Deborah H. O'Connor, Council Member
Linda C. Lowry, City Manager
James DeStefano, Deputy City Manager
David A. Doyle, Deputy City Manager
Michael Jenkins, City Attorney
Lynda Burgess, City Clerk
Bob Rose, Community Services Director
David G. Liu, Public Works Director
Linda G. Magnuson, Finance Director
xii
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CITY OF DIAMOND BAR
Combined Balance Sheet - All Fund Types and Account Groups
June 30, 2001
Governmental Fund Types
pecial Capital
General Revenue Projects
Assets and other debits
Assets:
Cash and investments (note 2)
$18,122,750
Accounts receivable
216,319
Interest receivable
374,092
Due from employees
Due from other funds (note 9)
-
9,764
Due from other governments
897,586
Prepaid expenditures
Advances to other funds (note 5)
2,250
-
Fixed assets (note 3)
-
Other debits:
Amount to be provided for
retirement of general long-term
debt
-
Total assets
$19,622,761
Liabilities, equity and other credits
Liabilities:
Accounts payable
$ 830,888
Accrued payroll
182,961
Retentions payable
6,020
Deferred revenue
-
Due to other funds (note 9)
-
Deposits
844,047
Due to other governments
-
Compensated absences payable (note
4) -
Advances from other funds
(notes 4 and 5)
-
Total liabilities
1,863,916
Equity and other credits:
in fixed
investment general assets
-
Retained earnings:
Unreserved
-
Fund balances (note 7):
Reserved
422,972
Unreserved - designated
114,597
Unreserved - undesignated
17,221,276
Total equity and other credits
17,758,845
Total liabilities, equity
and other credits
$19,622,761
Proprietary
Fund Type
ntI ernal
Service
8,815,131 721,596 1,295,420
44,783 3,392 122,950
265,470 - -
13,509 - -
47,623
9,138,893 724,988 1,465,993
160,609 155,019 -
4,249 - -
8,122 -
123,932 -
9,764
298,554 163,141 -
1,465,993
8,806, -
37,144 912,880-
3 500 490'164 -
8,840,339 561,847 1,465,993
9,138,893 724,988 1,465,993
See accompanying notes to the financial statements.
R)
Account Groups
----
General enera
Fixed Assets Long-Term Debt
Totals
(Memorandum Only)
2001 2000
- - 28,954,897
27,300,910
- - 387444
312,941
- - 374,092
389,781
- -
1,891
- - 9,764
1,292,887
- - 1,163,056
1,685,433
- - 15,759
7,612
135,079 135,079
5,693,462
11,119,843 - 11,167,466
11,132,620
- 135,079 135,079
5,845,879
11,119,843 135,079 42,207,557
53,663,416
- 1,146,516
1,973,027
- 187,210
126,582
- 14,142
264,775
- 123,932
440,236
- 9,764
1,292,887
- 844,047
2,425,973
11,119,843 - 39,746,867
144,844
135,079 135,079
152,417
G�'x'I�'l.L►a
- 135,079 2,460,690
12,514,203
11,119,843 - 11,119,843
11,099,798
- - 1,465,993
1,292,932
- - 1,372,996
6,033,375
- - 9,060,423
9,733,797.
- - 16,727,612
12,989,311
11,119,843 - 39,746,867
41,149,213
11,119,843 135,079 42,207,557
53,663,416
9
(This page intentionally left blank)
10414 my I 1 003 V 0 0.1
Combined Statement of Revenues, Expenditures and Changes in Fund Balances -
All Governmental Fund Types
Year ended June 30, 2001
See accompanying notes to the financial statements.
.19
Totals
Special
Capital
(Memorandum Only)
General
Revenue
Projects
2001
2000
Revenues:
Taxes
$6,579,488
-
6,579,488
6,294,104
Special assessments
-
547,407
547,407
547,04.1
Licenses, permits and fees
2,012'263
-
-
2,012,263
1,666,726
Intergovernmental
3,315,489,
3,304,516
511,500
7,131,505
7,713,344
Fines and forfeits
509,676
509,676
556,527
Charges for services
649,654
-
649,654
1,712,737
Investment income
1,072,675
597,842
1,867
1,672,384
1,395,785
Other revenues
77,227
15,000
92,227
59,443
Total revenues
13,566,818
5,114,419
513,367
19,194,604 1,
19,945,707
Expenditures:
Current:
Generalgovernment
3,308,606
-
3,308,606
2,868,907
Public safety
4,921,756
38,761
4,960,517-
4,654,187
Highway and streets
-
947,922
947,922
909,642
Public works
1,288,795
442,975
1,731,770
1769,956
Community development
-
850,740
46
850,786
1:202,285
Parks recreation and
culture
1,710226
187,861
-
1,898,087-
1,805489
Capital outlay
468,673
62,088
2,600,708
3,131,469
6,397292
Baa debt (note 5)
3,447,929
3,447,929
Debt service:
Payment of advances (note 5) -
78,531
78,531
Interest
-
-
-
-
305,090
Total expenditures
15,145,985
2,530,347
2,679,285
20,355,617
19,912,848
Excess (deficiency) of
revenues over (under)
expenditures
(1,579,167
2,584,072
(2,165,918
(1,161,013)
32,859
Other financing sources (uses):
Operating transfers in
863,331
2,577,738
3,441,069
5,693,736
Operating transfers out
(396,335)
(3,294,221)
-
(3,690,556)
(5,826,226)
Proceeds of advances
-
1,136,709
Total other financing
sources (uses)
466,996
(3,294,221
2,577,738
(249,487)
1,004,21
Excess (deficiency) of revenues
and other financing sources
over (under) expenditures and
other financing uses
(1,112,171)
(710,149)
411,820
(1,410,500)
1,037,078
Fund balances at beginning
of year, as restated note 11)
18,871,016
9,550,488
150,027
28,571,531
27,719,405
Fund balances at end of year $17,758,845
8,840,339
561,847
27,161,031
28,756,483
See accompanying notes to the financial statements.
.19
CITY OF DIAMOND BAR
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances - Budgef and Actual
All Governmental Fund Types
Year ended June 30, 2001
Revenues:
Taxes
Special assessments
Licenses, permits and fees
Intergovernmental
Fines and forfeits
Charges for services
Investment income
Other revenues
Total revenues
Expenditures:
Current:
General government
Public saTety
Highways and streets
Public works
Community development
Parks, recreation and culture
Capital outlay
Bad debt
Debt service:
Payment of advances
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Proceeds of advances
General
12,610,190
13,566,818
v ariance
Budget
Actual
(Unfavoorable)
$ 6,069,000
6,579,488
510,488
2,123,850
2,012,263
(111,587)
3,099,840
3,315,489
215,649
381,500
509,676
128,176
875,000
1,072,675
197,675
61,000
77.227
16.227
12,610,190
13,566,818
956,628
3,866,064
3,308,606
557,458
5,054,465
4,921,756
132,709
1,932,323
1,288,795
643,528
1,996,524
1,710,226
286,298
545,336
47,929)
3,447,929
(3,463
13,394,712
15,145,985
(1,751,273)
(784,522
(1,579,167
(794,645)
1,213,300 863,331 (349,969)
(3,622,304) (396,335) 3,225,969
Total other financing sources (uses) (2,409,004) 2,876,000
Excess (deficiency) of revenues
and other financing sources over
(under) expenditures and other
financing uses
(3,193,526)
Fund balances at beof year,
R
as restated (note 1 18,871,016
Fund balances (deficit) at end of year $15,677,490
(1,112,171) 2,081,355
18,871,016 -
17,758,845 2081,355
See accompanying notes to the financial statements.
5
W
a
EXHIBIT CC
Cabital Proiects
Special Revenue
Budget Actual
(Unfavorable)
-
V ariance
Favorable
Budget
Actual
(Unfavorable)
500,000 513,367
548,652
547,407
(1,245)
4,137,627
3,304,516
(833,111)
510,000
649,654
139,654
537,500
597,842
60,342
-
15,000
15,000
5,733,779
5,114,419
(619,360)
EXHIBIT CC
Cabital Proiects
60,150
v ariance
Favorable
Budget Actual
(Unfavorable)
-
500,000 511,500
11,500
- 1,867
1,867
500,000 513,367
13,367
60,150
38,761
21,389
-
-
-
987, 550
150,027 -
28
-
-
-
572, 035
442;975
129;060
-
-
-
854,490
850,740
3,750
444,173
46
444,127
239,091
187,861
51,230
-
-
-
124,325
62,088
62,237
13,709,693
2,600,708
11,108,985
_
_
-
-
78,531
(78,531)
2,837,641
2,530,347
307,294
14,153,866
2,679,285
11,474,581
2,896,138
2,584,0723(
12,066,
(13,653,866)2(
,165,918
11,487,948
-
-
11,468,329
2,577,738
(8,890,591)
(9,332,298)
(3,294,221)
6,038,077
-
-
-
-
-
-
549,255
-
(549,255)
9 3(, 32,29
(3,294,221 94,221)
6,038,077
12,017,584
2,577,738
(9,439,846)
(6,436,160)
(710,149)
5,726,011 (1,636,282)
411,820 2,048,102
9,550,488
9,550,488
- 150,027
150,027 -
3,114,328
8,840,339
5,726,0111.4��
56, 847 2,048,102
C
CITY OF DIAMOND BAR
Combined Statement of Revenues, Expenses, and Changes in Retained Earnings -
Internal Service Fund Type
Year ended June 30, 2001
See accompanying notes to the financial statements.
7
2001
2000
Operating revenues:
Insurance deposits
$ 64,778
61,790
Total operating revenues
64,778
61,790
Operating expenses:
Insurance premiums
191,513
52,491
Depreciation
10,863
2,000
Total operating expenses
202,376
54,491
Operating income (loss)
(137,598)
7,299
Non-operating revenues:
Investment income
61,172
52,623
Total non-operating revenues
61,172
52,623
Income (loss) before operating transfers
(76,426)
59,922
Operating transfer in
249,487
132,490
Total operating transfers
249,487
132,490
Net income
173,061
192,412
Retained earnings at beginning of year
1,292,932
1,100,520
Retained earnings at end of year
JIA�65993
1,292,932
See accompanying notes to the financial statements.
7
EXHIBIT EE
CITY OF DIAMOND BAR
Combined Statement of Cash Flows — Internal Service Fund Type
Year ended June 30, 2001
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 2001, there were no noncash investing, capital or financing
activities.
See accompanying notes to the financial statements.
8
2001
2000
Cash flows from operating activities:
f Insurance deposits
$ 82,874
61,790
Insurance payments
(183,901)
(226,918
Net cash provided by (used for) operating activities
(101,027)
(165,128)
Cash flows from noncapital financing activities:
Cash transferred from other fiords
249,487
132,490
Net cash provided by noncapital financing activities
249,487
132,490
Cash flows from investing activities:
Interest received from investment
61,172
52,623
Purchase of equipment
(43,459)
(17,027)
Net cash provided by investing activities
17,713
35,596
Net increase in cash and cash equivalents
166,173
2,958
Cash and cash equivalents at beginning of year
1,129,247
1,126,289
Cash and cash equivalents at end of year
$1,295,420
1,129,247
Reconciliation of net operating income (loss) to net
cash provided by (used for) operating activities:
Operating income (loss)
$ (137,598)
7,299
Adjustments to reconcile operating income to net
cash provided by (used for) operating activities:
Depreciation
10,863
2,000
(Increase) decrease in accounts receivable
18,096
(141,046)
(Increase) decrease in prepaid insurance
7,612
(7,612)
(Decrease) increase in accounts payable
-
(25,769)
' Net cash provided by (used for) operating activities
101 027)
(165,128)
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 2001, there were no noncash investing, capital or financing
activities.
See accompanying notes to the financial statements.
8
(This page intentionally left blank)
CITY OF DIAMOND BAR
Notes to the Financial Statements
Year ended June 30, 2001
(1) Summary of Significant Accounting Policies
(a) Description of the Reporting Entity
The City of Diamond Bar (City) was incorporated April 18, 1989 under the
general laws of the State of California. The City operates under the Council -
Manager form of government and provides the following services as authorized
by its general laws: Public Safety (police), Highways and Streets, Park Facilities,
Public Improvements, Community Development (planning, building, zoning) and
General Administrative Services.
The accounting policies of the City conform to generally accepted accounting
principles as applicable to governments. As required by generally accepted
accounting principles, these financial statements present the government and its
component units, entities for which the government is considered to be financially
accountable. The City is considered to be financially accountable for an
organization if the City appoints a voting majority of that organization's
governing body and the City is able to impose its will on that organization or
there is a potential for that organization to provide specific financial benefits to or
impose specific financial burdens on the City. The City is also considered to be
financially accountable if an organization is fiscally dependent (i.e., it is unable to
adopt its budget, levy taxes, set rates or charges, or issue bonded debt without
approval from the City). In certain cases, other organizations are included as
component units if the nature and significance of their relationship with the City
are such that their exclusion would cause the City's financial statements to be
misleading or incomplete.
All of the City's component units are considered to be blended component units.
Blended component units, although legally separate entities, are, in substance,
part of the government's operations and so data from these units are reported with
the interfund data of the primary government. The following organization is
considered to be a component unit of the City:
Diamond Bar Redevelopment Agency
The Diamond Bar Redevelopment Agency (Agency) was established on February
6, 1996 pursuant to the State of California Health and Safety Code Section 33000
entitled "Community Redevelopment Law". Its purpose is to prepare and carry
out plans for improvements, rehabilitation and redevelopment of blighted areas
within the territorial limits of the City of Diamond Bar. Even though it is legally
separate, it is reported as if it were part of the City because the City Council also
serves as the governing board of the Agency. Upon completion, separate
financial statements of the Agency can be obtained at City Hall.
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
(b) Fund Accounting
The basic accounting and reporting entity is a "find." A fund is defined as an
independent fiscal and accounting entity with a self -balancing set of accounts,
recording resources, related liabilities, obligations, reserves and equities
segregated for the purpose of carrying out specific activities or attaining certain
objectives in accordance with special regulations, restrictions or limitations.
The accounting records of the City are organized on the basis of fiends and
account groups classified for reporting purposes as follows:
GOVERNMENTAL FUNDS
General Fund
The General Fund is the general operating fund of the City. All general tax
revenues and other receipts that are not allocated by law or contractual agreement
to some other fund are accounted for in this Rind. Expenditures of this fiend
include the general operating expenses and capital improvement costs which are
not paid through other funds.
Special Revenue Funds
The Special Revenue Funds are used to account for proceeds of specific revenue
sources that are restricted by law or administrative action for specific purposes.
Capital Project Funds
Capital Project Funds are used to account for financial resources to be used for the
acquisition, construction or improvements of major capital facilities and
infrastructure.
.. #.. 1'&4 1717
The City applies all applicable GASB pronouncements in accounting and
reporting for its proprietary operations as well as the following pronouncements
issued on or before November 30, 1989, unless these pronouncements conflict
with or contradict GASB pronouncements: Financial Accounting Standards
Board (FASB) Statements and Interpretations, Accounting Principles Board
(APB) Opinions, and Accounting Research Bulletins (ARBs) of the Committee
on Accounting Procedures. Proprietary funds include the following fund type:
10
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
Internal Service Fund
The Internal Service Fund is used to account for goods and services provided by
one department to other departments on a cost reimbursement basis.
ACCOUNT GROUPS
General Fixed Assets Account Grou
The General Fixed Assets Account Group is used to account for the costs of fixed
assets acquired to perform general government functions.
Assets purchased are recorded as expenditures in the governmental Rinds and
capitalized at cost in the general fixed assets account group. Contributed fixed
assets are recorded in the general fixed assets account group at their estimated fair
market value when received. Fixed assets acquired, under a capital lease are
recorded at the net present value of the future minimum lease payments.
Fixed assets consisting of certain improvements other than buildings, including
roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and
lighting systems, have not been capitalized. Such assets normally are immovable
and of value only to the City. Therefore, the purpose of stewardship for capital
expenditures is satisfied without recording these assets.
No depreciation has been provided on general fixed assets.
General Long -Term Debt Account Group
The General Long -Term Debt Account Group is used to account for all long-term
debt of the City, except debt accounted for in the proprietary Rinds.
(c) Measurement Focus and Basis of Accounting
Governmental (general, special revenue, and capital projects) fund types are
accounted for on a "spending" measurement focus. Accordingly, only current
assets and current liabilities are included on their balance sheets. The reported
fund balance provides an indication of available, spendable resources. Operating
statements for governmental fund types report increases (revenues) and decreases
(expenditures) in available spendable resources.
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
The proprietary (internal service) fund types are accounted for on an "income
determination" or "cost of services" measurement focus. Accordingly, all assets
and liabilities are included on the balance sheet, and the reported fiend equity
provides an indication of the economic net worth of the fund. Operating
statements for proprietary fund types report increases (revenues) and decreases
(expenses) in total economic net worth.
Agency funds are custodial in nature (assets equal liabilities) and do not involve
measurement of results of operations.
The modified accrual basis of accounting is followed by the governmental and
agency funds. Under the modified accrual basis of accounting, revenues are
susceptible to accrual when they become both measurable and available.
Available means collectible within the current period or soon enough thereafter to
be used to pay liabilities of the current period. Expenditures, other than interest
on long-term debt, are recorded when a current liability is incurred. Liabilities are
considered current when they are normally expected to be liquidated with
expendable available financial resources.
Taxes, subventions, entitlements, and taxpayer -assessed tax revenues held at year-
end by an intermediary collecting government are recognized as revenue under
the modified accrual basis of accounting. Reimbursement grant revenues are
recognized when the related expenditures are incurred. Revenues from the use of
money and property are recorded when earned.
Licenses, permits, fines, forfeitures, charges for services, and miscellaneous
revenues are recorded as governmental fund revenues when received in cash
because they are generally not measurable until actually received.
The accrual basis of accounting is utilized by the proprietary funds. Revenues are
recognized when they are earned and expenses are recorded when the related
liability is incurred. Unbilled service receivables, if material, have been reflected
in the financial statements.
(d) Budgetary Data
The City adopts an annual budget prepared on the modified accrual basis for all of
its governmental funds. Revisions that alter the total appropriations of any funds
must be approved by City Council. Prior year appropriations lapse unless they are
reappropriated through the formal budget process. Expenditures may not legally
exceed appropriations at the fund level. During the year, there were supplemental
budgetary appropriations amounting to $1,552,850.
12
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
(e) Interfund Transfers
Nonrecurring transfers of equity between Rmds are reported as an adjustment to
beginning fiend balance. Operating transfers are reported as other sources and
uses of funds in the statement of revenues, expenditures, and changes in fund
balances for governmental fund types.
(f) Encumbrances
Encumbrance accounting, tinder which purchase orders, contracts and other
commitments for the expenditure of monies are recorded in order to reserve that
portion of the applicable appropriation, is employed as an extension of formal
budgetary control in the governmental funds. Encumbrances outstanding at year-
end do not constitute expenditures or liabilities, but are reported as reservations of
fund balance.
(g) Cash and Investments
Investments are reported in the accompanying balance 'sheet at fair value.
Changes in fair value that occur during a fiscal year are recognized as investment
income reported for that fiscal year. Investment income includes interest earnings,
changes in fair value, and any gains or losses realized upon the liquidation or sale
of investments.
The City pools cash and investments of all funds. Each fund's share in this pool
is displayed in the accompanying financial statements as cash and investments.
Investment income earned by the pooled investments is allocated to the various
funds based on each fund's average cash and investment balance, except for
$1,072,675 of investment income (associated with funds not legally required to
receive pooled investment income) that has been assigned to and recorded as
revenue of the general fund, as provided by California Government Code Section
53647.
(h) Cash Equivalents
For purposes of the statement of cash flows, cash equivalents are defined as short-
term, highly liquid investments that are both readily convertible to known
amounts of cash or so near their maturity that they present insignificant risk of
changes in value because of changes in interest rates, and have an original
maturity date of 3 months or less. Cash equivalents also represent the proprietary
fiends' share in the cash and investment pool of the City of Diamond Bar.
13
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
(i) Due from Other Governments
The amounts recorded as a receivable due from other governments include sales
taxes, property taxes, and grant revenues, collected or provided by Federal, State,
County, and City Governments and unremitted to the City as of June 30, 2001.
The County of Los Angeles assesses, bills, and collects property taxes for the
City.
0) Employee Leave Benefits
Vacation and sick leave time begin to accumulate as of the first day of
employment to a maximum of 160 hours. Employees who accumulate sick leave
in excess of 160 hours are paid for the excess annually at one half the employee's
current wage rate. In governmental fiend types, the cost of vacation and sick leave
benefits is recognized when payments are made to employees. A long-term
liability of $135,079 of accrued benefits has been recorded by using the vesting
method in the long-term debt account group representing the City's commitment
to fiord such costs from future operations.
(k) Claims and Judgments
The City records a liability for material litigation, judgments, and claims
(including incurred but not reported losses) when it is probable that an asset has
been impaired or a material liability has been incurred prior to year end and the
probable amount of loss (net of any insurance coverage) can be reasonably
estimated.
(1) Capital Projects
Capital projects expenditures include public domain or infrastructure projects
which are not capitalized as additions to general fixed assets.
(m) Postemployment Benefits
The City does not provide postemployment benefits (other than pension benefits)
for its employees.
(n) Property Taxes
Under California law, property taxes are assessed and collected by the counties up
to 1% of assessed value, plus other increases approved by the voters. The
property taxes go into a pool, and are then allocated to the cities based on
complex formulas. Accordingly, the City of Diamond Bar accrues only those
taxes which are received within 60 days after year end.
14
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
(n) Property Taxes, (Continued)
The property tax calendar is as follows:
Lien Date:
Levy Date:
Due Date:
Delinquent Date:
March 1
July 1
First Installment - November 1
Second Installment - February 1
First Installment - December 11
Second Installment - April 11
Taxes are collected by Los Angeles County and are remitted to the City
periodically. Dates and percentages are as follows:
December 10
January 16
April 10
May 15
July 31
(o) Fixed Assets
30% Advance
Collection No. 1
10% Advance
Collection No. 2
Collection No. 3
Fixed assets are not capitalized in the fiends used to acquire or construct them.
Instead, capital acquisition and construction are reflected as expenditures in
governmental Rinds, and the related assets are reported in the general fixed assets
account group. All purchased fixed assets are valued at cost where historical
records are available and at an estimated historical cost where no historical
records exist. Donated fixed assets are valued at their estimated fair market value
on the date received.
The costs of normal maintenance and repairs that do not add to the value of the
asset or materially extend asset lives are not capitalized. Improvements are
capitalized and depreciated over the remaining useful lives of the related fixed
assets, as applicable.
lPublic domain ("infrastructure") general fixed assets consisting of roads, bridges,
curbs and gutters, streets and sidewalks, drainage systems and lighting systems
are not capitalized, as these assets are immovable and of value only to the
government.
Assets in the general fixed assets account group are not depreciated.
(p) Proprietary Funds Fixed Assets
Fixed assets of the City's proprietary fiends (i.e., Equipment Replacement Fund)
are recorded at historical cost or estimated fair market value at the date of
contribution.
15
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
(p) Proprietary Funds Fixed Assets, (Continued)
Depreciation has been provided over the estimated useful life using the straight-
line method. The estimated useful lives are as follows:
Automobile Equipment 5 Years
(q) Comparative Data
Comparative total data for the prior year have been presented in the
accompanying financial statements in order to provide an understanding of
changes in the City's financial position and operations. However, comparative
(i.e., presentation of prior year totals by fund type) data have not been presented
in each of the statements since their inclusion would make the statements unduly
complex and difficult to read. Certain minor reclassifications of prior year data
have been made in order to enhance their comparability with current year figures.
(r) Memorandum Only Totals
Columns in the accompanying financial statements captioned "Totals
(Memorandum Only)" are not necessary for a fair presentation of the financial
statements in accordance with generally accepted accounting principles, but are
presented as additional analytical data. Interfund balances and transactions have
not been eliminated and the columns do not present consolidated financial
information.
(2) Cash and Investments
Cash and investments held by the City at June 30, 2001 consisted of the following:
Imprest cash on hand $ 300
Deposits (513,888)
State Treasurer's investment pool 28,506,345
Money market mutual fund 962,140
Total $28.954,897
16
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(2) Cash and Investments, (Continued)
The City is generally authorized under Section 53601 of the California Government Code
and the City's investment policy to invest in the following types of investments:
Medium term corporate notes
Demand deposits with financial institutions
Passbook savings accounts
Certificates of deposit
U.S. Treasury bills and notes
Bankers' acceptances
Commercial paper
State Treasurer's Investment Pool
Repurchase Agreements
Negotiable certificates of deposit
Money market fiinds
Federal Agency Securities
Under the California Government Code, a financial institution is required to secure
deposits made by state or local governmental units by pledging securities held in the form
of an undivided collateral pool. The market value of the pledged securities in the
collateral pool must equal at least 110% of the total amount deposited by the public
agencies. California law also allows financial institutions to secure City deposits by
pledging first trust deed mortgage notes having a value of 150% of the secured public
deposits.
Deposits of cities and other state or local governments are classified in three categories to
give an indication of the level of credit risk assumed by the City.
Category 1 - includes deposits that are insured or collateralized with securities held by
the City or its agent in the City's name.
Category 2 - includes deposits collateralized with securities held by the pledging
financial institution's trust department or agent in the City's name. Category 2 also
includes deposits collateralized by an interest in an undivided collateral pool held by an
authorized Agent or Depository and subject to certain regulatory requirements under
State law.
Category 3 - includes deposits collateralized with securities held by the pledging
financial institution, or by its trust department or agent but not in the City's name.
Category 3 also incudes any uncollateralized deposits.
17
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(2) Cash and Investments, (Continued)
Deposits held by the City as of June 30, 2001 are classified in risk categories as follows:
Category Bank Carrying
Form of Deposit 1 2 3 Balance Amount
Demand deposits $100,000 34,520 - 134,520 (513,888
Total deposits 11D,0000 34,520 - 134,520 f513 888
Investments held by the City as of June 30, 2001 are not classified by custodial risk
because they do not represent a direct investment in securities.
Carrying
Amount
Investments held by City not subject to categorization:
Investment in State Treasurer's Investment Pool $28,506,345
Money market mutual fund 962,140
Total investments $29,468,485
The carrying amount of all investments in the above table is at fair value.
The City is a voluntary participant in the Local Agency Investment Fund (LAIF), which
is the state treasurer's investment pool, that is regulated by California Government Code
Section 16429 under the oversight of the Treasurer of the State of California. The fair
value of the City's investment in this pool is reported in the accompanying financial
statements at amounts based upon the City's pro -rata share of the fair value of the entire
LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available
for withdrawal is based on the accounting records maintained by LAIF, which are
recorded on an amortized cost basis. Included in LAIF's investment portfolio are
collateralized mortgage obligations, mortgage-backed securities, other asset-backed
securities, loans to certain state funds, and floating rate securities issued by federal
agencies, government-sponsored enterprises, and corporations.
18
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(3) Fixed Assets
Changes in general long-term debt for the year ended June 30, 2001 were as follows:
A summary of changes in general fixed assets follows:
Balance at
Balance at
Balance at
July 1, 2000
Additions Deletions
Balance at
City:
July 1, 2000
Additions
Deletions
June 30, 2001
Land
$5,169,898
135,079
Redevelopment Agency:
5,169,898
Buildings
1,159,345
-
5,693,462
1,159,345
Improvements other than
Total
$5,845,879
- 57108003
1 5,079
buildings
2,915,351
356,124
-
3,271,475
Vehicles and equipment
1,294,193
73,829
88,231
1,279,791
Furniture and fixtures
225,691
15,110
1,467
239,334
Construction in progress
335,320
-
335,320
-
Total
$11,099,798
�445063
�425O 18
11
,119,843
A summary of proprietary type fixed assets at June 30, 2001 follows:
Internal .Service
Machinery and equipment $60,486
Less accumulated depreciation (12,863
Total $47 �623
(4) General Long -Term Debt
Changes in general long-term debt for the year ended June 30, 2001 were as follows:
Balance at
Balance at
July 1, 2000
Additions Deletions
June 30, 2001
City:
Compensated absences payable
$ 152,417
- .17,338
135,079
Redevelopment Agency:
Advances from other funds
5,693,462
- 5,693,462
-
Total
$5,845,879
- 57108003
1 5,079
19
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
.. ...... ......
(5) Advances From/to Other Funds and Bad Debt
The General Fund has advanced a total of $5,693,462 to the Redevelopment Agency
Capital Projects Fund for various start up costs. The following represents a summary of
these transactions:
Balances at Balances at
July 1, 2000 Proceeds Deletions June 30, 2001
Agency expenditures
incurred by the City $5,693,462 - 5,693,462
Repayment of advances is not required until funds become available to the Agency.
Interest accrues on advances at the average daily rate earned on investments held in the
State Treasurer's investment pool. According to the California Supreme Court's decision
on August 9, 2000, the Agency's Redevelopment Plan was invalid. Accordingly, the
advances from the General Fund were written off as of June 30, 2001.
The deletions indicated above included the repayment of advances of $78,531, which was
part of the advances from the City. Pursuant to the California Supreme Court's decision
pertaining to the invalidity of the Agency's Redevelopment Plan, no tax increments could
be generated from the County. Accordingly, the Agency would not be able to pay the
advances back to the City. The General Fund recognized the unpaid advances as bad debt
expense in the amount of $3,447,929.
(6) Obligations Under Operating Leases
The City leases building and office facilities under noncancelable operating leases. The
total costs for such leases were $248,288 for the year ended June 30, 2001. The future
minimum lease payments for the lease of building and office facilities are as follows:
Year ending June 30
2002
$320,894
2003
256,434
2004
261,887
2005
261,254
2006-2011
1,506349
Total $2,607,218
20
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(7) Reserves and Designations of Fund Balances
The City established "reserves" of fund equity to segregate fund balances which are not
appropriable for expenditure in future periods, or which are legally set aside for specific
future use. Fund "designations" also may be established to indicate tentative plans for
financial resource utilization in future periods.
Fund balances at June 30, 2001 consisted of the following reserves and designations:
Special Capital Total
General Fund Revenue Projects (Memorandum Only)
Reserved for:
Prepaid expenditures $ 2,250 13,509 - 15,759
Encumbrances 420,722 23,635 912,880 1,357,237
422,972 37,144 912,880 1,372,996
Unreserved:
Designated for:
Specific projects and programs 114,597 8,806,695 139,131 9,060,423
Undesignated 17,221,276 (3,500) (490,164 16,727,612
17,335,873 8,803,195 (351,033 25,788,035
Total fund balances $17,758,845 &840,339 561,847 27,161,031
(8) City Employees Retirement Plan
Plan Description
The City of Diamond Bar contributes to the California Public Employees Retirement
System (PERS), an agent multiple -employer public employee defined benefit pension
plan. PERS provides retirement, disability benefits, and death benefits to plan members
and beneficiaries. PERS acts as a common investment and administrative agent for
participating public entities within the State of California. Copies of PERS' annual
financial report may be obtained from its executive office: 400 "P" Street, Sacramento,
California 95814.
21
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(8) City Employees Retirement Plan, (Continued)
Funding Policy
Participants are required to contribute 7% of their annual covered salary. The City makes
the contributions required of City employees on their behalf and for their account. For
the year ended June 30, 2001, the amount contributed by the City on behalf of the
employees was $140,351. The City is required to contribute at an actuarially determined
rate calculated as a percentage of covered payroll. The employer contribution rate for the
year ended June 30, 2001 was 4.047% for miscellaneous employees. Police and fire
protection services are contracted services from outside agencies. Accordingly, no
contribution is required for police and fire protection services. Benefit provisions and all
other requirements are established by state statute and city contract with employee
bargaining groups.
Annual Pension Cost (APC)
For the year ended June 30, 2001, the City's annual pension cost (employer contribution)
of $75,170 for miscellaneous employees was equal to the City's required and actual
contributions. The required contribution was determined as part of the June 30, 1999,
actuarial valuation using the entry age normal actuarial cost method. Paragraph 9 of
GASB No. 27 requires that the annual required contribution reported for the current year
should be based on the results of an actuarial valuation performed as of a date not more
than 24 months before the beginning of the employer's fiscal year. Paragraph 22 of
GASB Statement No. 27 requires that agent employers also disclose actuarial information
for the most recent actuarial valuation. An actuarial valuation as of June 30, 2000 has not
yet been completed and made available by PERS to the City. The actuarial assumptions
included (a) 8.25% investment rate of return (net of administrative expenses), (b)
projected annual salary increases that vary by duration of service, and (c) 2% per year
cost -of -living adjustments. Both (a) and (b) included an inflation `component of 3.5%.
The actuarial value of PERS assets was determined using techniques that smooth the
effects of short-term volatility in the market value of investments over a four-year period
(smoothed market value). PERS' unfunded actuarial accrued liability is being amortized
as a level percentage of projected payroll on a closed basis. PERS has combined the
prior service unfunded liability and the current service unfunded liability into a single
initial unfunded liability. The single funding horizon for this initial unfiunded liability is
June 30, 2019.
Miscellaneous Employees
Three -Year Trend Information
Annual Pension Cost
Percentage of
Net Pension
Fiscal Year
(Employer Contribution)
APC Contributed
Obligation
6/30/99
$92,239
100%
0
6/30/00
77,221
100%
0
6/30/01
75,170
100%
0
22
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(8) City Employees Retirement Plan, (Continued)
Required Supplementary Information
(9) Due From and To Other Funds
Current interfiind receivables and payables balances at June 30, 2001 are as follows:
Due Due
from to
Other Funds Other Funds
L,
(, General fund $9,764 -
Special revenue fiends:
Community development block grant - 9,764
Total $9,764 9,764
(10) Claims and Judgments
The City is a member of the California Joint Powers Insurance Authority (Authority).
The Authority is composed of 84 California public entities and is organized under a joint
powers agreement pursuant to California Government Code Section 6500 et seq. The
purpose of the Authority is to arrange and administer programs for the pooling of self-
insured losses, to purchase excess insurance or reinsurance, and to arrange for group -
purchased insurance for property and other coverages. The Authority's pool began
covering claims of its members in 1978. Each member government has an elected
official as its representative on the Board of Directors. The Board operates through a 9-
j member Executive Committee.
23
Entry Age
Normal
Actuarial
Unfunded
Annual
UAAL as
Actuarial
Accrued
Value
Liability/
Funded
Covered
a % of
Valuation Date
Liability
of Assets
(Excess Assets)
Status
Payroll
Payroll
lI 6/30/97
$1,334,707
$1,656,895
$(322,188)
124.1%
$1,411,740
(22.822%)
6/30/98
1,661,909
2,207,450
(545,541)
132.8%
1,392,605
(39.174%)
6/30/99
2,161,899
2,771,219_._
(609,320)
128.2%
1,581,092
(38.538%)
(9) Due From and To Other Funds
Current interfiind receivables and payables balances at June 30, 2001 are as follows:
Due Due
from to
Other Funds Other Funds
L,
(, General fund $9,764 -
Special revenue fiends:
Community development block grant - 9,764
Total $9,764 9,764
(10) Claims and Judgments
The City is a member of the California Joint Powers Insurance Authority (Authority).
The Authority is composed of 84 California public entities and is organized under a joint
powers agreement pursuant to California Government Code Section 6500 et seq. The
purpose of the Authority is to arrange and administer programs for the pooling of self-
insured losses, to purchase excess insurance or reinsurance, and to arrange for group -
purchased insurance for property and other coverages. The Authority's pool began
covering claims of its members in 1978. Each member government has an elected
official as its representative on the Board of Directors. The Board operates through a 9-
j member Executive Committee.
23
• 6 [631FRIFIMM,
Notes to the Financial Statements
(Continued)
(10) Claims and Judgments, (Continued)
(a) City's Participation in Self -Insurance Programs of the Authority
General Liability
The City pays a primary deposit to cover estimated losses for a fiscal year
(claims year). Six months after the close of a fiscal year, outstanding claims are
valued. A retrospective deposit computation is then made for each open claims
year. Costs are spread to members as follows: the first $20,000 of each
occurrence is charged directly to the City; costs from $20,001 to $500,000 are
pooled based on a member's share of costs under $20,000; costs from $500,001
to $5,000,000 are pooled based on payroll. Costs of covered claims above
$5,000,000 are currently paid by reinsurance. The protection for the City is
$50,000,000 per occurrence and $50,000,000 annual aggregate.
Property Insurance
The City participates in the all-risk property protection program of the Authority.
This insurance protection is underwritten by several insurance companies. The
City's property is currently insured according to a schedule of covered property
submitted by the City to the Authority. Total all-risk property insurance
coverage is $100,000,000 per occurrence. There is a $5,000 per loss deductible.
Premiums for the coverage are paid annually and are not subject to retroactive
adjustments.
Fidelity Bonds
The City purchases blanket fidelity bond coverage in the amount of $1,000,000
with a $5,000 deductible. The fidelity coverage is provided through the
Authority. Premiums are paid annually and are not subject to retroactive
adjustments.
(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.
24
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
Restatement of Beginning Fund Balances
The accompanying financial statements reflect an adjustment which resulted in a
restatement of beginning fund balance of the General Fund.
(a) The City has decreased its beginning General fund balance for the over -accrual of
revenue for the California Environmental Enforcement and Mitigation Program.
General
Fund Type
Fund balance as previously reported, June 30, 2000 $19,055,968
(a) Adjustment to the over -accrual of revenue (184,952)
Fund balance as restated, July 1, 2000 $18,871,016
(12) Individual Fund Disclosures
(A) Expenditures exceeded appropriations in individual funds for the year ended June
30, 2001 as follows:
Excess
Budget Actual Expenditures
General Fund $13,394,712 15,�145985 f1,751,273
(B) Deficit fund balances at June 30, 2001 were as follows:
Fund Balance Deficit
Special Revenue Funds:
Community Development Block Grant Fund $1500
The deficit in the Community Development Block Grant Fund will be funded by future
year allocations from Los Angeles County.
(13) Contingent Liabilities
The City is a defendant in various litigation arising in the normal course of operations. In
the opinion of management and counsel, the outcome is not expected to materially
adversely affect the financial position of the City.
25
(This page intentionally left blank)
46
WY
✓ }� I� A/
s
r
y� 1
WY
✓ }� I� A/
y� 1
To account for all of the general revenue of the City not specifically levied or collected for other
City funds and for expenditures related to rendering the general services provided by the City.
26
CITY OF DIAMOND BAR
General Fund
Comparative Balance Sheets
June 30, 2001
Assets
Cash and investments
$18,122,750
15,176,278
Accounts receivable
216,319
170,054
Interest receivable
374,092
377,860
Due from employees
-
1,891
Due from other funds
9,764
-
Due from other governments
897,586
1,029,524
Prepaid expenses
2,250
-
Advances to other funds
-
5.693.462
Total assets $19,622,761 22,449,069
Liabilities and fund eauitv
Liabilities:
Accounts payable
$ 830,888
1,261,998
Accrued payroll
182,961
119,667
Retentions payable
6,020
-
Deferred revenue
-
440,236
Due to other funds
-
828,268
Deposits
844,047
742,932
Total liabilities
1,863,916
3,393,101
Fund equity:
Reserved for:
Prepaid Expenditures
2,250
-
Encumbrances
420,722
193,323
Advances to the Diamond Bar
Redevelopment Agency
-
5,693,462
Unreserved:
Designated for:
Specific projects and programs
114,597
114,104
Undesignated
17,221,276
13,055,079
Total fund equity
17,758,845
19,055,968
Total liabilities and fund equity
$19,622,761
22,449,069
27 1
28
EXHIBIT A-2
CITY OF DIAMOND BAR
General Fund
Schedule of Revenues - Budget and Actual
Year ended June
30, 2001
Variance -
Favorable
2000
Budget
Actual
(Unfavorable)
Actual
Taxes:
Real estate transfer tax
$ 180,000
229,193
49,193
269,390
j Sales and use tax
2,600,000
2,918,415
318,415
2,814,441
Franchise fees
650,000
664,273
14,273
684,684
Transient occupancy tax
380,000
553,022
173,022
480,160
Property tax allocation
2,259,000
2,214,585 ✓4(
4,415)
2,045,429
j Total taxes
6,069,000
6,579,488
510,488
6,294,104
/Licenses, permits and fees
2,123,850
2,012,263
(111,587)
1,575,501
lIntergovernmental:
Motor vehicle in lieu tax
2,888,640
3,102,693
214,053
3,142,078
Homeowners exemption
30,000
32,469
2,469
33,341
Off highway tax
1,200
1,221
21
1,148
Grants
180,000
179,106
894
452,645
Total intergovernmental
3,099,840
3,315,489
215,649
3,629,212
Fines and forfeits
381,500
509,676
128,176
556,527
'i Investment income
875,000
1,072,675
197,675
760,874
Other revenues:
Rental income
45,000
63,684
18,684
40,438
Donations
3,000
1,290
(1,710)
4,240
_ Miscellaneous
13,000
12,253
(747)
9,765
f
Total other revenues
61,000
77,227
16,227
54,443
Total revenues
$12,610,190
13,566,818
956,628
12,870,661
28
CITY OF DIAMOND BAR.
General Fund
Schedule of Expenditure - Budget and Actual
Year ended June 30, 2001
General government:
City Council
City Manager
City Clerk
Finance
City Attorney
Planning
Community development
General government
Communication and marketing
Total general government
Public safety:
Law enforcement
Fire
Building and safety
Animal control
Emergency preparation
Total public safety
Public works
Parks, recreation, and culture
Capital outlay
Bad debt
Total expenditures
EXHIBIT A-3
29
Variance -
Favorable
2000
Budget
Actual
(Unfavorable)
Actual
$ 178,300
180,619
(2,319)
155,273
517,100
548,614
(31,514)
371,652
314,560
215,518
99,042
245,429
298,200
293,359
4,841
265,045
504,458
407,458
97,000
397,537
573,132
434,204
138,928
445,476
26,792
25,715
1,077
43,671
883,497
736,022
147,475
643,053
570,025
467,097
102,928
301,771
3,866,064
3,308,606
557,458 _
2,868,907
4,210,500
4,151,365
59,135
4,090,001
7,360
7,359
1
7,359
730,000
671,628
58,372
.448,101
69,000
70,244
(1,244)
65,244
37,605
21,160
16,445
28,294
5,054,465
4,921,756
132,709
4,638,999
1,932,323
1,288,795
643,528
1,188,335
1,996,524
1,710,226
286,298
1,713,011
545,336
468,673
76,663
137,287
-
3,447,929
(3,447,929)
-
$13,394,712
15,145,985
(1,751,273)
10,546,539
29
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for specific revenues that are legally restricted to
expenditure for particular purposes.
The City of Diamond Bar has thirteen Special Revenue Funds:
State Gas Tax Fund - To account for state gasoline taxes received under Sections 2105, 2106,
2107 and 2107.5 of the Streets and Highways Code. State law requires that these revenues be
utilized solely for street related purposes.
Proposition A Transit Fund - To account for the receipt and expenditure of the City's share of the
V2 cent sales tax levied in Los Angeles County for local transit purposes.
Proposition C Transit Fund - To account for the receipt and expenditure of Proposition C funds
from the Los Angeles County Metropolitan Transportation Authority for the City's transit and
transit -related improvement projects.
Traffic Congestion Relief Fund — To account for revenues and expenditures for the City's street
or road maintenance or reconstruction pursuant to AB2928.
Integrated Waste Management Fund - To account for revenues and expenditures related to the
City's waste reduction efforts as related to AB939.
Air Quality Improvement Fund - To account for motor vehicle registration fees received from the
South Coast Air Quality Management District to reduce air pollution from motor vehicles
pursuant to the California Clean Air Act of 1988.
Bicycle and Pedestrian Fund - To account for revenues and expenditures related to the receipt of
state funds allocated for the purpose of the construction of bike and pedestrian paths.
California Law Enforcement Equipment Program Fund (CLEEP) - To account for revenues
received from the California CLEEP fund and expenditures made for the purchase of high-
technology equipment.
Park and Facility Development Fund - To account for the development and enhancement of the
City's parks.
Community Development Block Grant Fund - To account for the City's allotment of CDBG
funds from the federal government via the County of Los Angeles Community Development
Commission. These funds are used to Rind community development programs and projects
benefiting low and moderate income citizens.
Citizens Option for Public Safety Fund (COPS) - To account for COPS grants received from
both the state and federal government. The purpose of these fiends are to enhance the City's
public safety budget and to fund special public safety related projects.
Asset Seizure Fund - To account for Narcotics Asset Forfeiture funds received from the federal
government. It is required that these funds be used to enhance drug and law enforcement
activities.
Landscape Maintenance District Fund - To account for revenues and expenditures related to the
special property tax assessments which were set up in accordance with the Landscape and
Lighting Act of 1972. The purpose of these districts is to improve the landscaping of City owned
medians and hillsides.
9
Assets
Cash and investments
Accounts receivable
Due from other
governments
Prepaid expenditure
Total assets
Liabilities and fund balances
Liabilities:
Accounts payable
Accrued payroll
Retentions payable
Deferred revenue
Due to other funds
Total liabilities
Fund balances:
Reserved for:
Prepaid expenditures
Encumbrances
Unreserved:
Designated for:
Specific projects
and programs
Undesignated
Total fund balances
Total liabilities and
fund balances
CITY OF DIAMOND BAR
Special Revenue Funds
Combining Balance Sheet
June 30, 2001
$ - 81,364 -
1,727 -
83,091
7,507 1,942 -
922 - -
8,429 1,942
- 6,755 - - -
6,754 -
545,967 967,386 2,039,962 438,982 394,211
213,206 -
545,967 974,141 2,039,962 438,982 394,211
219,960 -
s-�
221.902 -
Traffic
Integrated
Bicycle
State
Prop. A
Prop. C
Congestion
Waste
Air Quality
and
Gas Tax
Transit
Transit
Relief
Management
Improvement
Pedestrian
$445,048
984,260
1,985,030
438,982
357,857
197,855
-
-
-
-
-
44,783
-
-
100,919
66,217
54,932
-
-
17,293
-
6,755
6,754
$545.967
1 057,232
22 03� 962
438.982
402.640
221 X02
-
$ - 81,364 -
1,727 -
83,091
7,507 1,942 -
922 - -
8,429 1,942
- 6,755 - - -
6,754 -
545,967 967,386 2,039,962 438,982 394,211
213,206 -
545,967 974,141 2,039,962 438,982 394,211
219,960 -
MA5.910 Q57,232 2.QV-962 438 982 402 640
221.902 -
31
Park and Community Landscape
Facility Development Asset Maintenance Totals
CLEEP Development Block Grant COPS Seizure District 2001 2000
125,835 2,336,742 - 251,569 352,392 1,339,561 8,815,131 9,592,247
- - - - - - 44,783 1,841
- 13,558 - - 12,551 265,470 655,909
- - - - 13.509 -
125 835 2 33 742 1-3558 251.569 53 2,392 1 352,112 _ 138 893 10.249,997
3,502 2,418 - 63,876 160,609 212,775
290 - - 1,310 4,249 6,915
- - - - - - - 15,200
120,430 - 3,502 - - - 123,932 -
- - 9.764 - - - 9,764 464.619
120,430 - 17,058 2,418 - 65,186 298,554 699,509
- - - 13,509 -
- - - 3,424 - 20,211 23,635 69,926
5,405 2,336,742 - 245,727 352,392 1,266,715 8,806,695 9,480,562
(3,500) _ 3,500
5,405 2,336,742 (3,500 249,151 352,392 1,286,926 8,840,339 9,550,488
125835 2-3-6742
3 13 558 251,56 352,392 1.352 112 9.138.893 10.249,997
32
CITY OF DIAMOND BAR
Special Revenue Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Year ended June 30, 2001
Total other financing
Parks, recreation and
9r
sr
29,948 - - 157,913 -
Z" r
- - - 3,881
//
7�
1,752,870 / - 157,913 25,603
Traffic
Integrated
revenues over (under)
Bicycle
expenditures 1,162,006
State
Prop. A Prop. C
Congestion
Waste
Air Quality
and
(82,141) - -
Gas Tax
Transit Transit
Relief
Management.
Improvement
Pedestrian
$ 545.967
111
11'L
115
\17
�%%q
Revenues:
Special assessments
$ -
- -
-
-
-
-
Intergovernmental
1,063,844
758,010-- 629,513-
421,260
52,277
65,661
44,689
Charges for services
-
443,540- -
-
206,114
-
-
Investment income
98,162
91,512 101,495/
17,722
18,357
10,274
290
Otherrevenues
15,000
Total revenues
1,162,006
1,293,062 731,008
438,982
291,748
75,935
44,979
Expenditures:
y ti
Current:
Public safety
-
- -
-
-
-
-
Highways and streets
-
947,922 -
-
-
-
-
Public works
-
- -
-
-
21,722
-
Community development
-
775 000 -
-
-
-
-
Total other financing
Parks, recreation and
sources (uses)
culture -
29,948 - - 157,913 -
Capital outlay -
- - - 3,881
Total expenditures -
1,752,870 / - 157,913 25,603
Excess (deficiency) of
revenues over (under)
expenditures 1,162,006
(459,808 731,008 438,982 133,835 50,332
Other financing sources (uses):
(1,589,189)
Operating transfers out (2,751,195)
(82,141) - -
Total other financing
sources (uses)
(2,751,195)
(81,141
Excess (deficiency) of
revenues and other
financing sources over
(under) expenditures
and other financing uses
(1,589,189)
(459,808) 648,867
Fund balances at beginning
of year
2,135,156
1,433,949 1,391,095
Fund balances at end of year
$ 545.967
974.141 2 039 962
33
438,982 133,835 50,332
260,376 169,628
438.982 394.211 219 960
44.979
(44,979
)
4�)
EXHIBIT B-2
- - - 38,761 - - 38,761
Park and
Facility
Community
Development
Asset
Landscape
Maintenance
581,621
Totals.
CLEEP
Development
Block Grant
COPS Seizure
District
2001
2000
1�$
-
17
-
lits'
-
%>6
-9� %�7�� -
547,407 ✓
547,407
547,041
-
-
84,893
184,369 -
-
3,304,516
3,884,132
-
-
-
- -
-
649,654
1,712,737
5,405
141,490
-
20,174 20,697
72,264
597,842
570,064
15,000
5,405
141,490
84,893
204,543 20,697
619,671
5,114,419
6,713,974
- - - 38,761 - - 38,761
15,188
- - - - - - 947,922
909,642
- - - - - 421,253 442,975
581,621
- - 75,740 - - - 850,740
859,818
- - - - - - 187,861
92,478
1,798 56,409 62,088
299,623
75,740 40,559 477,662 2,530,347
2,758,370
5,405 141,490 9,153 163,984
(235,860 (12,653 (160,887
23� 5,860) (12,653 (160,887
20,697
142,009
2,584,072
3,955,604
(6,500
.(6)
(3,294,221)
(5,472,150)
(6,500
(6)
(3,294,221)
(5,472,150)
5,405 (94,370) (3,500) 3,097 14,197 142,003
- 2,431,112 - 246,054 338,195 1,144,923
5-40-5 2 336 742 13 S00) 249,151 352.392 1 286,926
34
(710,149) (1,516,546)
9,550,488 11,067,034
8.840.339 9,550.488
CITY OF DIAMOND BAR
State Gas Tax Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
Budget Actual
Revenues:
Intergovernmental
$1,060,000
1,063,844
Investment income
150,000
98,162
Total revenues
1,210,000
1,162,006
Excess of revenues over
expenditures
1,210,000
1,162,006
Other financing sources (uses):
Operating transfers out
(3,322,084)
(2,751,195)
Total other financing sources (uses)
(3,322,084)
(2,751,195)
Excess (deficiency) of revenues
over (under) expenditures and
other financing uses
(2,112,084)
(1,589,189)
Fund balances at beginning of year
2,135,156
2,135,156
Fund balances at end of year
$ 23,072
545,967
35
Variance -
Favorable 2000
(Unfavorable) Actual
3,844 1,165,503
(51,838 ) 167,296
(47,994 1,332,799
(47,99 1,332,799
570,889 (2,611,283)
570,889 (2,611,283)
522,895 (1,278,484)
- 3,413,640
522,895 2,135,156
ITY OF DIAMOND BAR
Proposition A Transit Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
36
Variance -
Favorable
2000
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 718,300
758,010
39,710
698,687
Charges for services
430,000
443,540
13,540
436,530
Investment income
90,000
91,512
1,512
88,294
Total revenues
1,238,300
1,293,062
54,762
1,223,511
Expenditures:
Current:
Highways and streets
987,550
947,922
39,628
909,642
Parks, recreation and culture
46,500
29,948
16,552
19,927
Community development
775,000
775,000
-
670;000
Total expenditures
1,809,050
1,752,870
56,180
1,599,569
Excess (deficiency) of revenues
over (under) expenditures
570 75045(
9,808)
110,9423(
76,05 j
Other financing sources (uses)
Operating transfers out
(200,000
-
200,000
_141 861)
Total other financing sources (uses)
_ (200,000
-
200,000
(141,861)
Excess (deficiency) of revenues over
(under) expenditures and other
financing uses
(770,750)
(459,808)
310,942
(517,919)
Fund balances at beginning of year
1,433,949
1,433,949
-
1,951,868
Fund balances at end of year
663 199
974,141
310,942
1,433,949
36
I ■ an i
CITY OF DIAMOND BAR.
Proposition C Transit Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
37
Variance -
Favorable
2000
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 595,950
629,513
33,563
581,145
Investment income
100,000
101,495
1,495
101,710
Total revenues
695,950
731,008
35,058
682,855
Excess of revenues over expenditures
695,950
731,008
35,058
682,855
Other financing sources (uses)
Operating transfers out
(2,560,000)
(82,141)
2,477,859
(1,331,763)
Total other financing sources (uses)
(2,560,000
(82,141
2,477,859
(1,331,763)
Excess (deficiency) of revenues
over (under) expenditures and
other financing uses
(1,864,050)
648,867
2,512,917
(648,908)
Fund balances at beginning of year
1,391,095
1,391,095
-
2,040,003
Fund balances (deficit) at end of year
472 955
2,039,962
2,512,917
1,391,095
37
CITY OF DIAMOND BAR
Traffic Congestion Relief Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
Revenues:
Intergovernmental
Investment income
Total revenues
Excess of revenues
over expenditures
Other financing sources (uses):
Operating transfers out
Total other financing sources (uses)
Excess of revenues over expenditures
and other financing uses
Fund balances at beginning of year
Fund balances at end of year
Budget
Actual
$422,000
421,260
8,000
17,722
430,000
438,982
430,000
438,982
(430,000
-
430 000
-
38
438,982
438,982
-0.3 18 V0
Variance -
Favorable 2000
(Unfavorable) Actual
(740) -
9,722 -
8,982 -
8,982 -
430,000 -
430,000 -
438,982 -
438,982 -
EXHIBIT B-7
CITY OF DIAMOND BAR
Integrated Waste Management Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
39
Variance -
Favorable
2000
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 19,000
52,277
33,277
41,270
Charges for services
80,000
206,114
126,114
69,201
Investment income
12,000
18,357
6,357
13,343
Other revenues
-
15,000
15,000
-
Total revenues
111,000
291,748
180,748
123,814
Expenditures:
Current:
Parks, recreation and culture
192,591
157,913
34,678
72,551
Total expenditures
192,591
157,913
34,678
72,551
Excess (deficiency) of
revenues over (under)
expenditures
(81,591)
133,835
215,426
51,263
Fund balances at beginning of year
260,376
260,376
-
209,113
Fund balances at end of year
111&785
394.211
215,426
260,376
39
CITY OF DIAMOND BAR
Air Quality Improvement Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
40
Variance -
Favorable
2000
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 45,000
65,661
20,661
64,382
Investment income
10,000
10,274
274
8,659
Total revenues
55,000
75,935
20,935
73,041
Expenditures:
Current:
Public works
43,188
21,722
21,466
18,947
Capital Outlay
25,225
3,881
21,344
85,161
Total expenditures
68,413
25,603
42,810
104,108
Excess (deficiency) of
revenues over (under)
expenditures
(13,413)
50,332
63,745
(31,067)
Fund balances at beginning of year
i'
169,628
169,628
-
200,695
Fund balances at end of year
jj5j6,215
219,960
63,745
169.628
40
CITY OF DIAMOND BAR
Bicycle and Pedestrian Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
41
Variance -
Favorable
2000
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$114,207
44,689
(69,518)
20,417
Investment income
1,500
290
_ (1,210
1,330
Total revenues
115,707
44,979
(70,728)
21,747
Excess of revenues over expenditures
115,707
44,979
(70,728
21,747
Other financing sources (uses):
Operating transfers out
114 2074(
4,979,
69,228
(36,261
Total other financing sources (uses)11(
4,207)
4( 4,979)
69,228
(36,261
Excess (deficiency) of revenues over
(under) expenditures and other
financing uses
1,500
-
(1,500)
(14,514)
Fund balances at beginning of year
-
-
-
14,514
Fund balances at end of year
1 500
-
-(L5
-
41
lq ui: it 1
CITY OF DIAMOND BAR
CLEEP Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
Budge Actual
Revenues:
Investment income $ - 5,405
Total revenues - 5,405
Excess of revenues over expenditures - 5,405
Fund balances at beginning of year - -
Fund balances at end of year $ - 5,405
42
Variance -
Favorable 2000
(Unfavorable) Actual
5,405 -
5,405 -
5,405 -
5,405 -
EXHIBIT B-11
CITY OF DIAMOND BAR
Park and Facility Development Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
Budget
Revenues:
Charges for services
2000
Investment income
100,000
Total revenues
100,000
Expenditures:
93,094
Capital outlay
-
Total expenditures
Excess of revenues over
expenditures
100,000
Other financing sources (uses):
Operating transfers out
(1,335,847
Total other financing sources (uses)
(1,335,847
Excess (deficiency) of revenues over
(under) expenditures and other
Variance -
Favorable
2000
Actual (Unfavorable)
Actual
- -
1,200,000
141,490 41,490
93,094
141,490 41,490
1,293,094
196,000
196,000
141,490 41,490 1,097,094
(235,860 1,099,987
(235,860) 1,099,987
financing uses (1,235,847) (94,370)
Fund balances at beginning of year 2,4312112 2,431,112
Fund balances at end of year $1,195,265 2,336,742
—
43
1,141,477
1,141,477
(96,994
(96,994)
1,000,100
1,431,012
2,431,112
CITY OF DIAMOND BAR
Community Development Block Grant Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
Revenues:
Intergovernmental
Total revenues
Expenditures:
Current:
Community development
Total expenditures
Excess of revenues over
expenditures
Other financing sources (uses):
Operating transfers out
Total other financing sources (uses)
Excess (deficiency) of
revenues over (under)
expenditures and other
financing uses
Fund balances at beginning of year
Fund balances (deficit) at end of year
13,695 (3,500) (17,195)
13 695 3,500
44
Variance -
Favorable
2000
Budget
Actual
(Unfavorable)
Actual
$971,030
84,893(886,137
365,914
971,030
84,893
(886,137
365,914
79,490
75,740
3,750
189,818
79,490
75,740
3,750
189,818
891,540
9,153
(882,387
176,096
(877,845
(12,653
865,192
(176,096)
(877,845(12,653)
865,192
(176,096)
13,695 (3,500) (17,195)
13 695 3,500
44
EXHIBIT B-13
CITY OF DIAMOND BAR
COPS Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
Revenues:
Intergovernmental
Investment income
Total revenues
Expenditures:
Current:
Public safety
Capital outlay
Total expenditures
Excess of revenues over
expenditures
Other financing sources (uses):
Operating transfers out
Total other financing sources (uses)
Excess (deficiency) of revenues
over (under) expenditures and
other financing uses
Fluid balances at beginning of year
Fund balances at end of year
45
Variance -
Favorable
2000
Budget
Actual
(Unfavorable)
Actual
$192,140
184,369
(7,771)
194,487
10,000
20,174
10,174
13,277
202,140
204,543
2,403
207,764
58,350
38,761
19,589
12,65.1
9,000
1,798
7,202
18,462
67,350
40,559
26,791
31,113
134,790
163,984
29,194
176,651
175 8151(
60,887
14,928
(139,194
(175,815
(160,887
14,928
(139,124)
(41,025)
3,097
44,122
37,457
246,054
246,054
-
208;597
$205,029
249,151
44,122
246,054
45
CITY OF DIAMOND BAR
Asset Seizure Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
Revenues:
Investment income
Total revenues
Expenditures:
Public safety
Total expenditures
Excess of revenues
over expenditures
Other financing sources (uses):
Operating transfers out
Total other financing sources (uses)
Excess of revenues over expenditures
and other financing uses
Fund balances at beginning of year
Fund balances at end of year
Budget
Actual
$20,000
20,697
20,000
20,697
697
1,800
-
1,800
-
1,800
18,200
20,697
2,537
(6,500)
(6,500
(6,500
(6,500
11,700
14,197
338,195
338,195
$342 �895
352,392
46'
Variance -
Favorable
2000
(Unfavorable)
Actual
697
18,501
697
18,501
1,800
2,537
1,800
2,537
2,497
15,964
(3,982
-
(3,982
2,497
11,982
- 326,213
2,497 338,195
EXHIBIT B-15
CITY OF DIAMOND BAR
Landscape Maintenance District Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
Revenues:
Special assessments
Investment income
Total revenues
Expenditures:
Current:
Public works
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other financing sources (uses):
Operating transfers out
Total other financing sources (uses)
Excess (deficiency) of revenues over
(under) expenditures and other
financing uses
Fund balances at beginning of year
Fund balances at end of year
(310,000 (6) 309,994
(310,000 (6) 309,994
(344,295)
142,003
Variance -
1,144,923
I-NO.628
14286M6
Favorable
2000
Budget
Actual
(Unfavorable)
Actual
$548,652
547,407
(1,245)
547,041
36,000
72,264
36,264
60,332
584,652
619,671
35,019
607,373
528,847
421,253
107,594
562,674
90,100
56,409
33,691
-
618,947
477,662
141,285
562,674
(34,295
142,009
176,304
44,699
(310,000 (6) 309,994
(310,000 (6) 309,994
(344,295)
142,003
1,144,923
1,144,923
I-NO.628
14286M6
47
486,298 44,699
- - 1,100,224
486,298 1,144,923
CAPITAL PROJECTS FUNDS
Capital Projects Funds are used to account for the purchase or construction of major capital
facilities which are not financed by Proprietary Funds or Trust Funds. Capital Projects Funds are
ordinarily not used to account for the acquisition of furniture, fixtures, machinery, equipment and
other relatively minor or comparatively short-lived general fixed assets.
The City of Diamond Bar has three Capital Projects Funds:
Grand Avenue Construction Fund - To account for the expenditure of fiends received from the
County of San Bernardino in settlement of the Grand Avenue litigation. These fiends are used
for street and traffic improvements along Grand Avenue.
Capital Improvement Fund - To account for the costs of constructing street improvements, park
improvements, and other public improvements not normally included within the other Capital
Projects fiends. Financing is provided by developer fees and interfund transfers from the Special
Revenue Funds and the General Fund.
Redevelopment Agency Fund - To account for general fund monies transferred to the
Redevelopment Agency for approved capital projects and administrative costs.
48
EXHIBIT C-1
CITY OF DIAMOND BAR
Capital Projects Funds
Combining Balance Sheet
June 30, 2001
49
Grand
Avenue
Capital Redevelopment
Totals
Construction
Improvement Agency
2001
2000
Assets
Cash and investments
$ 139,131
582,465 -
721,596
1,403,138
Accounts receivable
-
3,392 -
3,392
-
Interest receivable
-
- -
-
11,921
Due from other funds
-
- -
-
1,2922887
Total assets
139,131
585,857 -
724,988
2,707,946
Liabilities and fiord balances
Liabilities:
Accounts payable
$ -
155,019 -
155,019
480,459
Retentions payable
-
8,122 -
8,122
249,575
Deposits
-
- -
-
1,683,041
Due to other
governments
-
- -
-
144,844
Total liabilities
-
163,141 -
163,141
2,557,919
Fund balances:
Reserved for:
Encumbrances
-
912,880 -
912,880
76,664
Unreserved:
Designated for:
Specific projects
and programs
139,131
- -
139,131
139,131
Undesignated
-4(
90,164) -
490 164
__(g.768
Total fund balances
139,131
422,716 -
561,847
1502027
Total liabilities
and fund balances
139 131
585,857 -
724,988
2,707,946
49
EXHIBIT C-2
CITY OF DIAMOND BAR
Capital Projects Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Year ended June 30, 2001
Grand
Avenue
Capital
Redevelopment Totals
Construction
Improvement
Agency
2001
2000
Revenues:
i Licenses, permits
and fees $
91,225
Intergovernmental -
511,500
-
511,500
200,000
Investment income -
- .
1,867
1,867
-
64,847
5,000
Other income -
-
-
Total revenues -
511,500
1,867
513,367
361,072
Expenditures:
Current: -
Community development
46
_
46
342,467
Capital outlay -
2,600,708
-
2,600,708
5,960,382
Debt service:
Payment of advances -
-
78,531
78,531
-
Interest -
-
-
-
305,090
Total expenditures -
2,600,754
78,531
2,679,285
6,607,939
Excess (deficiency) of
' revenues over (under)
expenditures-
2 0(, 89,254
(76,664
_2,165,918)(6,246,867)
Other financing sources:
Operating transfers in -
2,577,738
-
2,577,738
4,825,014
Proceeds of advances -
-
-
-
1,136,709
Total other financing
sources -
2,5772738
-
2,577,738
5,961,723
Excess (deficiency) of
revenues and other
financing sources over
(under) expenditures -
488,484
(76,664)
411,820
(285,144)
i'
Fund balances (deficit) at
beginning of year 139,131
65 768
76,664
150,027
435,171
Fund balances at
end of year $139,131
422,716
-
561,847
150.027
50
EXHIBIT C-3
CITY OF DIAMOND BAR
Grand Avenue Construction Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year end edJune 30, 2001
Expenditures:
Current:
Highways and streets
Total expenditures
Excess of revenues over
expenditures
Other financing sources:
Operating transfers in
Total other financing sources
Excess of revenues and other
financing sources over
expenditures
Fund balances at beginning of year
Fund balances at end of year
Variance -
Favorable 2000
Budget Actual (Unfavorable) Actual
139,131 139,131
139 131 139.131
51
139,131
139,131
�TTTTT TT 1-1 A
CITY OF DIAMOND BAR
Capital Improvement Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
Revenues:
Intergovernmental
Licenses, permits and fees
Investment income
Other income
Total revenues
Expenditures:
Current:
Community development
Capital outlay
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Other financing sources:
Operating transfers in
Total other financing sources
Variance -
Favorable 2000
Budge Actual (Unfavorable) Actual
$ 500,000 511,500 11,500 200,000
- - - 91,225
10,629
5,000
500,000 511,500 11,500 306,854
28,610 46
13,128,214 2,600,708
13,156,824 2,600,754
28,564 4,468
10,527,506 5,457,083
10,556,070 5,461,551
(12,656,824) (2,089,254) 10,567,5705( ,154,69
11,468,329
2,577,738
(8,890,591)
4,825,014
11,468,329
2,577,738
(8,890,591)
4,825,014
Excess (deficiency) of
revenues and other financing
sources over (under) expenditures (1,188,495)
Fund balances (deficit) at beginning of year (65,768
Fund balances (deficit) at end of year $(1,254.263
52
488,484 1,676,979 (329;1683)
65 768) 263,915
422,716 1,676,979 _(65,76
W.W09- l,
CITY OF DIAMOND BAR
Redevelopment Agency Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 2001
Revenues:
Investment income
Total revenues
Expenditures:
Current:
Community development
Capital outlay
Debt service:
Payment of advances
Interest
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Other financing sources:
Proceeds of advances
Total other financing sources
Excess (deficiency) of revenues and
other financing sources over (under)
expenditures
Fund balances at beginning of year
Fund balances (deficit) at end of year
Variance -
Favorable 2000
Budget Actual (Unfavorable) Actual
$ - 1,867 1,867 54,218
1,867 1,867 54,218
415,563 - 415,563 337,999
581,479 - 581,479 503,299
- 78,531 (78,531) -
- - - 305,090
997,042 78,531 918,511 1,146,388
_J927,042 7( 6,664) 920,3781 0(, 92,170)
549,255 - (549,255 1,136,709
549,255 - (549,255) 1,136,709
(447,787) (76,664) 371,123 44,539
76,6647( 6,664) - 32,125
& 371 123) 76,664
53
INTERNAL SERVICE FUNDS
Internal Service Funds are used to account for the internal services within the City.
The City of Diamond Bar has two Internal Service Funds:
Self -Insurance Fund — To account for payments made for the City's general liability insurance
premium.
Equipment Replacement Fund — To account for the replacement of the City's rolling equipment
stock or vehicles.
54
CITY OF DIAMOND BAR
Internal Service Funds
Combing Balance Sheet
June 30, 2001
Assets
Current assets:
Cash and investments
Accounts receivable
Prepaid expenditures
Total current assets
Property, plant and equipment:
Machinery and equipment
Less accumulated depreciation
Net property, plant and
equipment
Total assets
Self -
Insurance
$1,190,619
122,950
1,313,569
$1,313,569
Liabilities and Fund Equity
Current liabilities:
Accounts payable $ -
Total liabilities -
Fund equity:
Retained earnings 1,313,569
Total retained earnings 1,3132569
Total liabilities and fund
equity $1 313,569
55
Equipment
Replacement
Totals
2001 12000
104,801
1,295,420
1,129,247
-
122,950
141,046
-
-
7,612
104,801
1,418,370
1,277,905
60,486
60,486
34,822
12 863
(12,863)
(2,00 0
472623
47,623
32,822
152,424
1,465,993
1,310,727
_ - 17,795
- - 17,795
152,424 1,465,993 1,292,932
152,424 1,465,993 1,292,932
15_424 1 465,993 1,310,727
EXHIBIT D-2
CITY OF DIAMOND BAR
Internal Service Funds
Combining Statement of Revenues, Expenses and Changes in Retained Earnings
Year ended June 30, 2001
Operating revenues:
Insurance deposits
Total operating revenues
Operating expenses:
Insurance premiums
Depreciation
Total operating expenses
Operating income (loss)
Non-operating revenues:
Investment income
Total non-operating
revenues
Income (loss) before
operating transfers
Operating transfers:
Operating transfers in
Total operating transfers
Net income
Retained earnings, July 1
Retained earnings, June 30
Self- Equipment
Insurance Replacement
$ 64,778
64277
Totals
2001 2000
64,778 61,790
64,778 61,790
191,513 - 191,513
- 10,863 10,863
191,513 10,863 202,376
�73 5(10,863) DIZ,598
52,491
2,000
54,491
7,299
59,567
1,605
61,172
52,623.
59,567
1,605
61,172
52,623
(67 168
(9,258
(76,426
59,92
165,805
83,682
249,487
132,490
165,805
83,682
249,487
132,490
98,637
74,424
173,061
192,412
1,214,932
78,000
1,292,932
1,100,52
$1,313,569
152,424
1,465,993
1,292,932
56
EXHIBIT D-3
CITY OF DIAMOND BAR
Internal Service Funds
Combining Statement of Cash Flows
Year ended June 30, 2001
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 2001, there were no noncash investing, capital or financing
activities.
57
Self-
Equipment
Totals
Insurance
Replacement 2001
2000
Cash flows from operating activities:
Insurance deposits
$ 82,874
82,874
61,790
Insurance payments
(183,9011181�901
(226,918
Net cash provided by (used for)
operating activities
(101,027
101 027,
165 128
(,
Cash flows from noncapital financing
activities:
Cash transferred from other funds
165,805
.83,682
.249,487
132,490
Net cash provided by noncapital
financing activities
165,805
83,682
249,487
132,490
Cash flows from investing activities:
Interest received from investments
59,567
1,605
61,172
52,623
Purchase of equipment
-
(43,459
(43,459
(17,027
Net cash provided by (used for)
investing activities
59,567
_.I41 8_54)
17,713
35,596
Net increase in cash
and cash equivalents
124,345
41,828
166,173
2,958
Cash and cash equivalents at beginning
of year
12066,274
62,973
1,129,247
1,126,289
Cash and cash equivalents at end of year
x,190,619
.104,801
1,295,420
1,129,247
Reconciliation of net operating income (loss)
to net cash provided by (-used for)
operating activities:
Operating income (loss)
$(126,735)
(10,863)
(137,598)
7,299
Adjustments to reconcile operating
income to net cash provided by
(used for) operating activities:
Depreciation
-
10,683
10,863
2,000
(Increase) decrease in accounts receivable
18,096
-
18,096
(141,046)
(Increase) decrease in prepaid insurance
7,612
7,612
(7,612)
(Decrease) increase in accounts payable
-
-
(25,769
Net cash provided by (used for)
operating activities
$UD I �027
101 027)
=11011=28
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 2001, there were no noncash investing, capital or financing
activities.
57
GENERAL FIXED ASSETS ACCOUNT GROUP
58
EXHIBIT E-1
CITY OF DIAMOND BAR
Comparative Schedule of General Fixed Assets by Source
June 30, 2001
General fixed assets:
Land
Buildings
Improvements other than buildings
Furniture and equipment
Construction in progress
Total general fixed assets
Investment in general fixed assets by source:
General Rind
Donations
Federal and state governments
Assessment districts
Total investment in general fixed assets
59
2001 2000
$ 5,169,898
5,169,898
1,159,345
1,159,345
3,271,475
2,915,351
1,519,125
1,519,884
-
335,320
$11,119,843 11,099,798
$ 4,152,408 4,084,059
3,734,906 3,767,949
3,219,941 3,235,202
12,588 12,588
$11,119,843 11 .099,798
EXHIBIT E-2
CITY OF DIAMOND BAR
Schedule of General Fixed Assets by Function and Activity
June 30, 2001
60
Improvements
Furniture
Other than
and
Function and Activity
Land
Buildings Buildings
Equipment
Total
General government:
City council
$ -
- -
19,199
19,199
Administration
-
- -
880,032
880,0312
City clerk
-
- -
66,743
66,743
Community development
-
- -
.32,650
32,650
Finance
-
- -
65,560
65,560
Other
3,609,898
- -
11,000
3,620,898
Total general government
3,609,898
- -
1,075,184
4,685,082
Public safety:
Sheriff
144,675
144,675
Emergency preparedness
37,463
37,463
Total public safety
182,138
182,138
Public works
-
- -
31,136
31,136
Culture and recreation
1,560,000
1,159,345 3,271,475
198,835
6,189,655
Library
-
- -
31,832
31,832
Total general fixed assets
$5,1=6=9,898
1.159 345 3.271.475
11
60
EXHIBIT E-3
CITY OF DIAMOND BAR
Schedule of Changes in General Fixed Assets by Function and Activity
Year ended June 30, 2001
Public safety:
Sheriff
Balance at
972
-
Balance at
Function and Activity
June 30, 2000
Additions
Deletions
June 30, 2001
General government:
179,642
2,496
-
182,138
City council
$ 12,900
6,299
-
19,199
Administration
900,049
60,193
80,210
880,032
City clerk
65,618
1,125
-
6.6,743
Community development
32,650
-
-
32,650
Finance
66,678
3,382
4,500
65,560
Other
3,620,898
-
-
3,620,898
Total general government
4,698,793
70,999
84,710
4,685,082
Public safety:
Sheriff
143,703
972
-
144,675
Emergency preparedness
35,939
1,524
-
37,463
Total public safety
179,642
2,496
-
182,138
Public works
29,211
4,855
2,930
31,136
Culture and recreation
6,159,725
31,393
1,463
6,189,655
Library
32,427
-
595
31,832
Total general fixed assets
$11,099798109
743
89.698
1 I_ I l 19 8A3
61
s
ew
7-7
,�a Ai
mv
^;IS
wr
�"
IT
xx
a- x
�AIWIIIIIOIIMI 01
-01 5
s
w ,
c
Table 1
City of Diamond Bar
General Government Expenditures by Function (1)
Since Incorporation in April, 1989
(unaudited)
Fiscal
Year
General
Government*
Public
Safety
Public
Works
Culture &
Recreation
Capital
Outlay*
Debt
Service
Total
1989-90
$2,509,540
$3,235,362
$1,143,795
$357,604
$1,027,049
$90,842
$8,364,192
1990-91
3,322,753
3,600,879
1,397,501
603,997
949,540
0
9,874,670
1991-92
2,923,206
3,794,887
1,673,144
740,687
359,931
0
9,491,855
1992-93
2,963,968
3,478,006
2,094,910
822,559
1,876,098
100,000
11,335,541
1993-94
2,456,056
3,819,724
2,310,313
976,957
1,638,409
564,790
11,766,249
1994-95
2,270,162
4,099,515
2,678,261
1,072,288
1,726,067
108,780
11,955,073
1995-96
2,319,801
4,110,104
2,372,404
1,127,136
1,579,421
104,930
11,613,796
1996-97
2,615,272
4,095,518
2,279,731
1,270,617
1,541,307
10,320
11,812,765
1997-98
3,145,257
4,094,401
2,402,426
1,666,198
5,189,027
28,064
16,525,373
1998-99
2,895,986
4,738,375
2,839,789
1,489,708
10,666,740
106,440
22,737,038
1999-00
4,071,192
4,654,187
2,679,598
1,805,489
6,397,292
305,090
19,912,848
2000-01
4,159,392
4,960,517
2,679,692
1,898,087
3,131,469
3,526,460
20,355,617
$24,000,000
$22,000,000
$20,000,000
$18,000,000
$16,000,000
$14,000,000
0 $12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
Total General Fund Expenditures
1989-90 1990-91 1991-92 1992-93 1993-941994-95 1995-96 1996-97 1997-98 1998-99 1999-uu zuuu-u-i
Fiscal Year
(1) Includes General, Special Revenue and Capital Project Funds.
*Note: General Government includes Community Development Expenditures
Capital Outlay includes Cost of Property sold.
Source: City Finance Department
62
■
■
�C
1989-90 1990-91 1991-92 1992-93 1993-941994-95 1995-96 1996-97 1997-98 1998-99 1999-uu zuuu-u-i
Fiscal Year
(1) Includes General, Special Revenue and Capital Project Funds.
*Note: General Government includes Community Development Expenditures
Capital Outlay includes Cost of Property sold.
Source: City Finance Department
62
Table 2
GovernmentCity of Diamond Bar
General Revenues by •
Since Incorporation in April, 1989
(unaudited)
Fiscal
Year
Taxes*
Special
Assessments
Licenses
& Permits-
Inter-
Governmental
Fines &
Forfeitures
Use of Money
& Property
Other
Revenue
Total
1989-90
$3,497,401
$409,454
$841,525
$5,271,606
$193,852
$440,520
$8,313
$10,662,671
1990-91
4,409,302
422,038
597,771
5,993,281
281,891
506,081
55,307
12,265,671
1991-92
4,593,790
466,369
864,260
5,067,309
97,730
578,340
27,078
11,694,876
1992-93
4,494,173
469,671
724,694
5,910,715
123,242
451,077
101,305
12,274,877
1993-94
5,060,850
499,030
965,835
5,539,046
187,430
466,209
38,372
12,756,772
1994-95
5,174,343
476,148
881,588
5,640,400
253,824
732,693
56,399
13,215,395
1995-96
5,538,406
538,896
1,066,475
5,735,096
261,138
863,855
50,787
14,054,653
1996-97
5,708,029
530,375
1,417,073
6,354,150
176,267
1,005,683
42,856
15,234,433
1997-98
5,943,775
561,772
1,247,155
9,178,049
219,075
1,166,554
1,329,957
19,646,337
1998-99
6,359,624
553,443
2,147,195
6,535,812
573,449
1,191,305
6,159,240
23,520,068
1999-00
8,006,841
547,041
1,666,726
7,713,344
556,527
1,395,785
59,443
19,945,707
2000-01
7,229,142
547,407
2,012,263
7,131,505
509,676
1,672,384
92,227
19,194,604
$24,000,000
$22,000,000
$20,000,000
$18,000,000
$16,000,000
$14,000,000
$12,000,000
2 $10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
Total General Fund Revenues
1989-90 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01
Fiscal Year
(1) Includes General, Special Revenue and Capital Project Funds.
Note: 1991-1992 "Other Revenue includes &179,679 developer fees collected in the Special Revenue Fund.
*Note: Taxes category includes Charges for Services.
**Note: Other Revenue includes proceeds from sale of property.
Source: City Finance Department
63
5�
0
11110
1989-90 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01
Fiscal Year
(1) Includes General, Special Revenue and Capital Project Funds.
Note: 1991-1992 "Other Revenue includes &179,679 developer fees collected in the Special Revenue Fund.
*Note: Taxes category includes Charges for Services.
**Note: Other Revenue includes proceeds from sale of property.
Source: City Finance Department
63
Table 3
City of Diamond Bar
Secured Property Tax Levies and Collections
Since Incorporation in April, 1989
(unaudited)
Fiscal
Year
Total
Current Levy
Total Current
Collections
Percentage of
Levy Collected
Deliquent Tax
Receivables
1989-90
$908,401
$835,873
92.02%
$72,528
1990-91
1,089,679
1,013,572
93.02%
76,107
1991-92
1,232,346
1,144,019
92.83%
88,327
1992-93
1,117,482
1,025, 382
91.76%
92,100
1993-94
1,180,435
818,467
69.34%
361,968
1994-95
1,804,068
1,625,911
90.12%
178,157
1995-96
1,796,593
1,711,983
95.29%
84,610
1996-97
1,809,197
1,625,252
89.83%
183,945
1997-98
1,781,264
1,680,816
94.36%
100,448
1998-99
1,810,266
1,758,764
97.16%
51,502
1999-00
1,904,915
1,813,904
95.22%
91,011
2000-01
1,954,530
1,847,817
94.54%
106,713
*Note: The City of Diamond Bar settled a property tax lawsuit with Los Angeles County that
resulted in additional property tax payments totalling $1,882,789. The funds were received in
three (3) payments dated February 1994, August 1994 and August 1995. These amounts are
not included in the above figures as they were associated with the initial property tax transfer
at the date of incorporation.
Source: Los Angeles County Auditor/Controller.
64
Total Property Tax Collections
�y41
.r
a f•
�yS
+
r
iy'F
�yY
$2,000,000
r<
Tr
$1,800,000
$1,600,000
$1,400,000
�,
U3$1,200,000
co $1,000,000
$800,000
$600,000
$400,000
$200,000
$o
1989-
1990-
1991-
1992-
1993-
1994- 1995-
1996- 1997- 1998- 1999- 2000-
90
91
92
93
94
95
96
97
98
99
00
01
Fiscal Year
*Note: The City of Diamond Bar settled a property tax lawsuit with Los Angeles County that
resulted in additional property tax payments totalling $1,882,789. The funds were received in
three (3) payments dated February 1994, August 1994 and August 1995. These amounts are
not included in the above figures as they were associated with the initial property tax transfer
at the date of incorporation.
Source: Los Angeles County Auditor/Controller.
64
�y41
.r
a f•
�yS
+
r
iy'F
�yY
r<
Tr
*Note: The City of Diamond Bar settled a property tax lawsuit with Los Angeles County that
resulted in additional property tax payments totalling $1,882,789. The funds were received in
three (3) payments dated February 1994, August 1994 and August 1995. These amounts are
not included in the above figures as they were associated with the initial property tax transfer
at the date of incorporation.
Source: Los Angeles County Auditor/Controller.
64
City of Diamond Bar
Assessed and Estimated Actual Values of Taxable Property
Since Incorporation in April, 1989
Fiscal
Year
Secured
Gross Value
Unsecured
-Gross Value
Public
Utility
Exemptions
..Total.
Percentage
Increase
1989-90
$2.663.648.018
$0
$0
$0
$2,663,648,618
13.54%
1990'91
2.926.368'105
U
827'618
5/409.199
2'921.786'524
Q.G096
1991-92
3'285.467.698
40'698'203
882.338
10.921.687
3.315'936'884
13.49%
1982-93
3.493.803.851
45.032'160
U
27.932'643
3.510.903'368
5.8896
1993'94
3.536.453.242
49.709.273
844.313
25.119.688
3.561.887.140
1.45%
1984-95
3'619'436.021
57.158.841
820.862
33.523'553
3.643'892,171
2.30%
1095-88
3.659.337.878
60.689'091
825.138
35'976'540
3.684.872,566
1.12%
1996-87
3'060.223.879
84.187.086
828'983
27.479'016
3.687,760.412
0.85%
1987-98
3.645.994.575
87.863.390
884.347
37.731.129
3.877.011.183
-0.5696
1998-89
3'730.370'102
74.441.058
870.888
38.373.706
3.767.314.142
2.46%
1999-00
3'873'275.798
63.844.054
125.921
36.404.583
3.900.751.190
3.5496
2000'01
4.098.200'125
67.438.047
116.405
40.088.648
4.125.665.829
5.77%
$4,500,000.000
$4,000,000,000
*8,500,000,000
$3,000,000,000
$2,500,000,000
= $2,000,000,00
$1,500,000,000
$1.000.000.000
$U
Net Assessed Value
1989-90 1990-91 1991-921992-801993-941994-951985-961896-871' 1898-991888-002000-01
Fiscal Year
°1988'8Sand 1SBg-SOestimated bvusing the combined unincorporated areas of, Pomona Unified
School and Walnut Valley Unified School Diuhjct-Gouroe: California Muncipal StoUubco
** Los Angeles County Auditor/Controller reported no Public Utility Valuations.
Source: Los Angeles County Auditor/Controller, Hd|Conm&Cone
65
URI
"F
1989-90 1990-91 1991-921992-801993-941994-951985-961896-871' 1898-991888-002000-01
Fiscal Year
°1988'8Sand 1SBg-SOestimated bvusing the combined unincorporated areas of, Pomona Unified
School and Walnut Valley Unified School Diuhjct-Gouroe: California Muncipal StoUubco
** Los Angeles County Auditor/Controller reported no Public Utility Valuations.
Source: Los Angeles County Auditor/Controller, Hd|Conm&Cone
65
City of Diamond Bar
Property Tax Rates -All Direct and Overlapping Governments
(Per$100 of Assessed Valuation)
Since Incorporation in April, 1989
(unaudited)
Fiscal
Year
General
Levy
Los Angeles
County
Walnut Valley
School District
Walnut Valley
Water District
LACounty
Flood Control
L'ACnunty
Sanitation
Metropolitan
Water District
Total
1UOO'9O
--
--
--
--
--
--
--
Not Available
1900-91
1.0000000
0.0021040
0.1597230
0.0578770
0.0057860
0.0007470
0.0097000
1.2350370
1991-92
1.0000000
0.0018880
0.0404200
0.0516750
0.0053780
0.0002000
0.0089000
1.1084770
1992-93
1.0000000
0.0014090
0.0974170
0.0481650
0.0033970
8.0002060
0.0089000
1.1594940
1993-94
1.0000000
0.0017130
0.0863570
0.0448070
0.0042120
0.8000000
0.0089000
1.1450890
1994-95
1.0000008
0.0019930
0.0649030
0.0000000
0.0060410
0.0000000
0.0089000
1.0818370
1995-96
1.0000000
0.0018140
0.0089860
0.0600000
0.0009630
0.0000000
0.0089000
1.0208636
1996'97
1.0000000
0.0010040
0.0858380
0.0000000
0.0010910
0.0000000
0.0089000
1.0975330
1997-98
1.0000080
0.0015840
0.1025300
0.0000000
0.0021970
0.0000000
0.0080000
1.1152110
1998-99
1.0000000
0.0014510
0.0094610
0.0800000
0.0010530
0.0000000
0.8089000
1.0817050
1999-00
1.0000000
0.0014220
0.0784890
0.0000000
0.0017050
0.0000080
0.0089000
1.0905760
2000'01
1.0000000
0.0013140
0.0884030
0.0000000
0.0015520
0.0000000
8.0088000
1.1000090
| 1Noto:Property tax rates based onatypical tax rate area.
Source: Los Angeles County Auditor/Contro|or,Hd|Coren&Cone
0�
Typical Property Tax Rates
(Percent of Assessed Value)
2.0000000
1.7500000
1.2500000 -
1.0000000 -
777
0.7500000
0.0000000 -
1989-90 1990-91
1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98
1998-99
199mo 2000-01
Fiscal Year
| 1Noto:Property tax rates based onatypical tax rate area.
Source: Los Angeles County Auditor/Contro|or,Hd|Coren&Cone
0�
City of Diamond Bar
June 30, 2001
ex Taxpayer
Primary Use
|RpM Muller Associates LLC
Commercial
M&HRealty Partners U
Commercial
Diamond Bar Business Associates
Commercial
Martin Bnsttrud Properties
Commercial
HR Banos Family Limited Partnership
Connnnenc|a|
Shea Honnao Limited Partnership
Industrial
Lakeview Village Corporation
Commercial '
Arden Roa|h/ Finance ||| LLC
Commercial
Kilroy Realty Limited Partnership
Industrial
Diamond Bar Hotel Fund Limited
Coonrnancia|
67
1899-2000 peroentagamfTotal
Assessed Valuation Net Assessed Valuation
1
0.517%
19,0K06J800
0.455%
15/K95.213 `
0.371%
13.889.845
0.332%
13.868.000
0.32796
11.827.728
0.28396
11,611.777
0.278Y6
10.648'728
0.25596
8'482.761
0.203Y6
7.780'077
0.188Y6
134035530 3.206%
City of Diamond Bar
Computation mfLegal Debt Margin
June 30'2001
(unaudited)
'
Assessed Valuations:
Assessed Value
Add Back: Exempt ropertv
Total Assessed Value
Legal Debt | �.�_ --.�-
�
Debt |initations_15q6ofTotal Assessed Value*
'
Debt Applicable to Limit
Total Bonded Debt
|
Less: Special Assessment Bonds
|
Revenue Bonds
Available for Repayment ofGeneral Obligation Bonds
/
Total Debt Applicable to Limitation
|
Legal Debt Margin
The City ofDiamond Bar has nobonded indabbleoo.
*Section 43605 ofthe California Government Code
Source: City Finance Department, Wdl Coren@Cone
W
$ 4'125'665'929
40,088,648
$ 4,165,754,577
$ 624,863,187
$ 624,863,187
City of Diamond Bar
Computation of Direct and Overlapping Deb"i
June 30, 2001
Government
Gross Bonded
Debt Balance
96Applicable
To City
Dabt@
6/30/01
Los Angeles County Detention Facilities 1897Debt Svc
$42.375'000
0.721
$305.524
LACoFlood Control (Storm Drain Bond No4)DS
17.930'000
0.735
131'786
Flood Control Ref. Bonds 18S3Debt Service
5.710.000
0.735
41.969
*Metropolitan Water District Three Valley Area 1112
527.480.000
0.588
3.101.582
*Metropolitan Water District Three Valley OrigArea
527.480.000
0.588
3'101'582
Pomona Unified School District Ref Ser 18S7AD8
48.750.000
25.545
12.453.188
Pomona Unified GO2UOORefund Series A Debt San/ic
20.865.000
25.545
5.355.5U8
Pomona Unified GO19Q8Series C Debt Service
10.000.000
25.545
2.554.500
Walnut Valley Unified SD2OOUSeries ADS
7.000.000
72.358
5.065'060
Walnut Valley Unified GORefund Series 1SS7/\O8
43.112.718
72.358
31,195,501
Total Gross Direct and Overlapping Bonded Debt
$
63306201
2OUU-2OU1Assessed Valuation: $3.G2U.22G.177
Debt toAssessed Valuation Ratios: Direct Debt 0.0096
Overlapping Debt 1.75%
Total Debt 1.75%
Report reflects general obligation debt which iobeing repaidthrouoh indebbneee.
It excludes, mortgage revenue, tax allocation bonds, interim financing obligations, non -bonded
capital lease obligations and certificates of participation.
This fund isaportion ofalarger agency, and isresponsible hudeb hnareas outside the city.
Source: City Finance Department, Hd|Coren& Cone
M
Type of Coverage
Liability:
General Liability, Automobile Liability,
Bodily Injury, Property Damage,
Personal Injury.
Special Liability:
Errors and ommissions, Employment
Practices injury, Contractual Liability
injury, Broadcast/Publication injury
Employee Benefits, Administration
injury, Discrimination injury.
City of Diamond Dar
Schedule of Insurance
June 30, 2001
(unaudited)
Limits/Deductibles
$50,000,000 limit each occurrence,
$50,000,000 annual aggregate.
Retained loss of $30,000 per
occurrence.
$50,000,000 limit each occurrence,
$50,000,000 annual aggregate.
Retained loss of $30,000 per
occurrence.
Insurer
Self Insured Program/
California Joint Powers
Insurance Authority.
Self Insured Program/
California Joint Powers
Insurance Authority.
Table 9
Policy period
07/l/01 -Until
suspended or
terminated.
07/l/01 -Until
suspended or
terminated.
Pollution & Remediation Legal Liability:
Scheduled property, streets, storm CJPIA Limit $50,000,000 for 3 years. Self Insured Program/ 07/01/00-07/01/03
drains, approved underground tanks & $10,000,000 per member. Self insur- California Joint Powers
non -owned disposal sites. ed retention $50,000 per occurrence. Insurance Authority.
Property:
All -Risk, including buildings, contents,
garaged vehicles, contractor's equip-
ment, fine arts, rental income and other
miscellaneous extentions of coverage.
Automobile:
Automobile Physical Damage
Crime:
Public Employee Blanket
Fidelity Bond -
Faithful Performance Bond
Coverage 'O'
Depositor's Forgery
Coverage 'B'
Crime- Money & Securities
Coverage 'C'
Computer Fraud
Coverage 'F'
Worker's Compensation:
Work related injury/illness claims for
temporary and permanent disability.
Special Events:
Tenants/Users for Property
damage/bodily injury
$100,000,000 per occurence,
deductible of $5,000 per occurrence.
$100,000,000 per occurence,
deductible of $1,000 per occurrence
Robert F. Driver Assoc. 12/31/00-12/31/01
Robert F. Driver Assoc. 12/31/00-12/31/01
$1,000,000 limit, deductible of Robert F. Driver Assoc. 01/01/01-04/01/02
$2,500 per occurrence
$1,000,000 limit, deductible of Robert F. Driver Assoc. 01/01/01-04/01/02
$2,500 per occurrence
$1,000,000 limit, deductible of Robert F. Driver Assoc. 01/01/01-04/01/02
$2,500 per occurrence
$1,000,000 limit, deductible of Robert F. Driver Assoc. 01/01/01-04/01/02
$2,500 per occurrence
California Statutory limit; $1,000,000 State Compensation 10/01/00-10/01/01
employers liability incl defending costs. Insurance Fund
$1,000,000 per occurrence and
aggregate per event. $5,000 medical
expense limit. .
70
Source: City Finance Department
Robert F. Driver Assoc. 04/01/01-04/1/02
City of Diamond Bar
Demographic and Miscellaneous Statistical Information
June 30, 2001
il
Date ofIncorporation -------.—.---.—.------..----._,Aor18'1S88
Form of Government ..--.—_....—...._._..—........—.—.—_.CouncU-K8onager
Area ...........--..---.--....—.--....--.--14.9 Square miles
Miles ufStreets -------..—....—..—..,—.....---.... 137
Employees(full-time) ......... ............................................................. ........... 41
................................ 53
Fire Protection
(Los Angeles County Consolidated Fire protection District)
Number ofStations .---.—..--..----_—...--__..----..._ 3
Sanitary Sewers —.----_—.--.'.--------------.—.-14Gf0
Recreation &Culture:
Community Centers ............................................................. 1
Parks
1U
...—..._.---.....---~^''----^^'~~—'---
Park Acreage ---------------------------. GOl)
Education:
Elemantary Schools (K-6)
-----...---....--..---.----.—.. 7
Middle Schools k6 -O\
-----..----...---...--....---.—.— 3
JrHigh Schools [7-8)
-----..----.----..--......---..... 5
High Schools (8- 2)
...—.-----.—.,---....--._.----_—... 2
Population:_*
Dote
Population
Percentage Increase
1990
53/672
-10.55%
1991
53,590
-0.14Y6
1992
53.576
-014%
1993
54,315
1.3U8%
1984
54.507
0.35;%
1895
54.284
-04196
1996
56.003
3.17%
1897
56,859
1.17%
1998
57.271
1.0896
1999'
58.300
1.80q6
2000
58'100
1.37%
2001
56.287
-4.76%
Note: 1988 population numbers are on estimate.
*Source: State of California, Department of Finance
71
Table 11
City of Diamond Bar
Residential and Commercial Construction
Since Incorporation in April, 1989
(unaudited)
(1) Includes multiple dwellings
Source: City's Contract Building & Safety Provider, Findley Reports
72
New Construction
Fiscal
Residential (1)
Commercial
.Year
Units
Value
Units
Value
1989-90
39
$ 12,246,600
6
$ 269,372
1990-91
24
6,989,816
17
1,528,280
1991-92
26
13,596,000
1
500,000
1992-93
11
6,757,000
2
558,000
1993-94
10
6,053,000
0
0
1994-95
8
4,619,400
0
0
1995-96
26
16,715,000
0
0
1996-97
15
9,516,000
1
4,300,000
1997-98
66
32,539,000
0
0
1998-99
88
36,303,000
5
21,516,000
1999-00
28
18,274,000
2
1,706,000
2000-01
92
42,558,001
3
8,431,000
Alterations and Additions
Fiscal
Residential (1)
Commercial
Year
Units
Value
Units
Value
1989-90
437
$ 4,085,588
212
$ 4,036,302
1990-91
744
8,868,435
83
11,361,825
1991-92
638
10,799,186
68
3,585,038
1992-93
600
6,894,000
94
6,259,900
1993-94
570
5,781,300
95
4,839,400
1994-95
487
5,649,500
81
2,454,800
1995-96
651
7,285,100
52
2,460,200
1996-97
595
12,150,400
58
3,826,800
1997-98
639
8,618,400
52
2,453,000
1998-99
751
19,163,240
53
10,099,900
1999-00
632
8,255,650
99
8,324,100
2000-01
716
10,069,605
57
4,614,427
Bank Deposits
6/30/90
$ 343,605,000
6/30/91
377,224,000
6/30/92
381,710,000
6/30/93
371,506,000
6/30/94
379,581,000
6/30/95
423,640,000
6/30/96
480,610,000
6/30/97
472,071,000
6/30/98
532,147,000
6/30/99
533,242,000
6/30/00
607,018,000
(1) Includes multiple dwellings
Source: City's Contract Building & Safety Provider, Findley Reports
72
Source: City Finance Department
73
l
Table 12
City of Diamond Bar
!! 4;
Ratio -Unreserved
General Fund Balance to Annual
General Fund
rvfi
Expenditures
Since Incorporation in April, 1989
(unaudited)
Unreserved Annual
1_
Fiscal
General Fund General Fund
Year
Balance Expenditures
Ratio
1989-90
$1,375,030 $9,600,559
0.1432
1990-91
2,200,322 8,031,932
0.2739
1991-92
3,019,852 8,208,271
0.3679
1992-93
3,305,067 8,232,941
0.4014
1993-94
5,677,619 9,329,431
0.6086
1994-95
7,711,454 8,241,463
0.9357 l
1995-96
9,600,649 8,446,432
1.1367
1996-97
10,755,111 8,777,410
1.2253
1997-98
12,392,358 9,401,308
1.3182
{
1998-99
11,446,683 10,554,029
1.0846
1999-00
13,169,183 10,900,615
1.2081
2000-01
17,335,873 15,145,985
1.1446
Source: City Finance Department
73
General Fund Ratio
!! 4;
rvfi
i'L
1.4000
i q4
d Sfis
,(�9�
1.2000
1.0000
0.8000
0.6000
0.4000
0.2000
r
0.0000
1989-90
1990-91
1991-92
1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01
Fiscal Year
Source: City Finance Department
73
!! 4;
rvfi
i'L
i q4
d Sfis
,(�9�
Source: City Finance Department
73
CITY OF DIAMOND BAR
Schedule of Credits
Year ended June 30, 2001
Name
Linda C. Lowry, City Manager
David A. Doyle, Deputy City Manager
Linda G. Magnuson, Finance Director
Gina M. Tharani, Senior Accountant
Conrad and Associates, Certified Public Accountants, L.L.P.
April A. Blakey,
Communications and Marketing Coordinator
Source: City of Diamond Bar
FM
Table 13
Area of Contribution
General Overview
Letter of Transmittal
General Overview
Letter of Transmittal
General Overview
Letter of Transmittal
Statistical Tables
Statistical Tables
Financial Statements
Notes to Financial Statements
Cover and Divider Page Design
(This page intentionally left blank)