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Home My WebLink AboutCAFR - FY 1992-93Year Ended June 30, 1993 • ��ir�►gyp �� ,� NOV 171993 CITY OF DIAMOND BAR, CALIFORNIA ANNUAL AUDIT REPORT Year Ended June 30, 1993 TABLE OF CONTENTS PAGE I. INDEPENDENT AUDITORS' REPORT 1 H. GENERAL PURPOSE FINANCIAL STATEMENTS Exhibit 1 - Combined Balance Sheet - All Fund Types and Account Groups 2 Exhibit 2 - Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types 3 Exhibit 3 - Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General, Special Revenue and Capital Project Fund Types 4 Exhibit 4 - Statement of Revenues, Expenses and Changes in Retained Earnings - All Proprietary Fund Types 5 Exhibit 5 - Statement of Cash Flows - All Proprietary Fund Types 6 Notes to Financial Statements 7-24 M. SUPPLEMENTAL INFORMATION Schedule 1 - General Fund - Statement of Revenues - Budget and Actual 25 Schedule 2 - General Fund - Statement of Expenditures - Budget and Actual 26 Schedule 3 - Combining Balance Sheet - All Special Revenue Funds 27-28 Schedule 4 - Combining Statement of Revenues, Expenditures and Changes in Fund Balances - All Special Revenue Funds 29-30 Schedule 5 - Combining Balance Sheet - All Capital Project Funds 31 Schedule 6 - Combining Statement of Revenues, Expenditures and Changes in Fund Balances - All Capital Project Funds 32 %IOV 1 7 1993 PRELIMINARY DRAFT FOR DISCUSSION PURPOSES ONLY INDEPENDENT AUDITORS' REPORT City Council City of Diamond Bar Diamond Bar, California We have audited the accompanying general purpose financial statements of the City of Diamond Bar, California, as of and for the year ended June 30, 1993, as listed in the table of contents. These financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable -- assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Diamond Bar, California, as of June 30, 1993, and the results of its operations and the cash flows of its proprietary fund types for the year then ended in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The supplemental information listed in the table of contents is presented for purposes of additional analysis and is not a required part of the general purpose financial statements of the City of Diamond Bar, -- California. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole. September 9, 1993 NOV 1 7 1993 ASSETS Cash (Notes 1 and 3) Accounts Receivable Interest Receivable Due from Other Funds (Note 4) Due from Other Governments Prepaid Expenditures Fixed Assets (Notes 1 and 5) OTHER DEBITS Resources Available for Long Term Obligations TOTAL ASSETS AND OTHER DEBITS LIABILITIES Accounts Payable Accrued Liabilities Due to Other Funds (Note 4) Deposits (Note 12) Claims and Judgements Payable (Note 6) Long Term Obligations (Notes 7, 8, 9 and 10) TOTAL LIABILITIES EQUITY AND OTHER CREDITS Investment in General Fixed Assets Retained Earnings Unreserved - Undeaignated Fund Balances (Note 11) Reserved for Receivable Reserved for Prepaid Expenditures Reserved for Encumbrances Reserved for Debt Service Unreserved - Undesignated TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, EQUITY AND OTHER CREDITS CITY OF DIAMOND BAR, CALIFORNIA COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS June 30, 1993 Proprietary Governmental Fund Types Fund Types Special Capital Internal General Revenue Proiect Service ASSETS AND OTHER DEBITS $ 5,188,314 $ 4,713,733 $ 753,304 $ 460,655 49,479 6,160 119,516 251,507 132,561 540,311 317,569 84,752 W -0-11-31W Fiduciary LIABILITIES, EQUITY AND OTHER CREDITS Fund $ 1,157,795 $ Totals - Types Account Groups (Memorandum Only) Trust And General Long -Tenn June 30 Agency Fixed Assets Obligations 1993 1992 19,084 $ 178,845 $ $ $ 11,294,851 $ 9,222,799 180,356 327,982 55,639 215,541 327,982 92,050 119,516 143,394 910.482 910.482 384,068 19,084 1.779.624 368.520 157.786 -0- 178.845 857,880 812,652 2.086.654 84,752 3,594,835 3,594,835 2,586,578 910.482 910.482 550.133 $ 6,233.879 $ 5.037,462 885,86 $ 460,655 $ 178.845 $ 3.594.835 $ 910.482 $ 17,302.023 $13,550,181 460,655 31,346 84,752 122,608 52,925 14,698 910,482 3.305.067 4.616.017 713.381 3,594,835 4.454.255 4.668.942 728.079 460.655 -0- 3.594.835 3,594,835 2,586,578 460,655 352,647 31,346 84,752 190,231 338,440 910,482 550,133 8.634.465 7.635.729 13.906.766 11.463.527 6 233.879 $ 5.037.462 $ 885.865 $ 460.655 $ 178.845 $ 3.594.835 $ 910.482 $ 17,302,023 $13.550.181 The accompanying notes are an ntegral` pArt of #hts statement , -2FOR DISCUSSION NOV 1 7 - LIABILITIES, EQUITY AND OTHER CREDITS $ 1,157,795 $ 114,422 $ 157,744 $ $ $ $ $ 1,429,961 $ 1,183,920 83,819 1,571 42 85,432 61,111 131,541 252,527 384,068 19,084 78,487 178,845 257,332 180,356 327,982 327,982 92,050 910.482 910.482 550.133 1.779.624 368.520 157.786 -0- 178.845 910.482 3.395.257 2.086.654 460,655 31,346 84,752 122,608 52,925 14,698 910,482 3.305.067 4.616.017 713.381 3,594,835 4.454.255 4.668.942 728.079 460.655 -0- 3.594.835 3,594,835 2,586,578 460,655 352,647 31,346 84,752 190,231 338,440 910,482 550,133 8.634.465 7.635.729 13.906.766 11.463.527 6 233.879 $ 5.037.462 $ 885.865 $ 460.655 $ 178.845 $ 3.594.835 $ 910.482 $ 17,302,023 $13.550.181 The accompanying notes are an ntegral` pArt of #hts statement , -2FOR DISCUSSION NOV 1 7 - CITY OF DIAMOND BAR, CALIFORNIA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - EXHIBIT 2 ALL GOVERNMENTAL FUND TYPES Year Ended June 30, 1993 Totals - (Memorandum Only) Special Capital Year Ended June 30 General Revenue Project 1993 1992 REVENUES Taxes Special Assessments Licenses and Permits Intergovernmental Fines and Forfeits Use of Money and Property Developer Fees Miscellaneous TOTAL REVENUES EXPENDITURES General Government - Departmental General Government - Nondepartmental Public Safety Public Works Parks, Recreation and Culture Capital Outlay TOTAL EXPENDITURES EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCES - BEGINNING OF YEAR PRIOR PERIOD ADJUSTMENT (Note 1J) FUND BALANCES - BEGINNING OF YEAR AS RESTATED FUND BALANCES - END OF YEAR The accompanying notes are an integral part of flus statement. $ 4,411,928 $ 82,245 $ $ 4,494,173 $ 4,593,790 3,676,718 469,671 852,864 469,671 466,369 724,694 724,694 864,260 3,292,200 2,618,515 852.864 5,910,715 5,067,309 24,315 98,927 728 079 123,242 97,730 245,114 198,418 7,545 451,077 578,340 179,679 101.305 101.305 93.399 8,799,556 3,467,776 7,545 12,274,877 11,940,876- 1,750,558 1,750,558 1,897,681 592,695 620,715 1,213,410 1,025,525 3,478,006 3,478,006 3,794,887 1,572,681 514,453 7,776 2,094,910 1;673,144 822,559 822,559 740,687 16,442 67,629 1,492,027 1,576,098 359,931 8,232,941 1,202,797 1,499,803 10,935,541 9,491,855 566,615 2,264,979 (1,492,258) 1,339,336, 2,449,021 123,284 (1.590,757) 1,367,473 (1001000) (100,000) 689.899 674,222 (124.785) 1.239,336 2,349,021 3,676,718 3,994,720 852,864 8,524,302 6,139,536 87.638 87.638 35.745 3.764,356 3.994,720 852.864 8,611.940 6,175,281 $ 4,454,255 $ 4,668,942 728 079 $ 9,851,276 $ 8,524;302 PRELIMINARY DRAFT FOR DISCUSSION s1" CITY OF DIAMOND BAR, CALIFORNIA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - EDIT 3 BUDGET AND ACTUAL - GENERAL, SPECIAL REVENUE AND CAPITAL PROJECT FUND TYPES Year Ended June 30, 1993 General Fund Special Revenue Funds Capital Project Funds Variances- Variances- Variances - Favorable Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable) REVENUES Taxes $ 4,034,000 / $ 4,411,928 $ 377,928 $ 76,000✓ $ 82,245 $ 6,245 $ $ $ Special Assessments 469,435 41sU o10 469,671 236 Licenses and Permits 752,5001 724,694 (27,806) , 0:"S Intergovernmental 2,830,000 3,292,200 462,200 (1,752,520 �i�h 2,618,515 865,995 Fines and Forfeits 55,000' 24,315 (30,685) X0;000" 98,927 58,927 Use of Money and Property 300,000 245,114 (54,886) 7,000 198,418 191,418 7,545 7,545 Miscellaneous 6.000' 101.305 95.305 malas, �9v TOTAL REVENUE 7.977,500 8.799.556 822.056 2.344.955 3.467.776 1.122,821 -0- 7.545 7.545 EXPENDITURES General Government- Departmental 1,693,222 1,750,558 (57,336) General Government- Nondepartmental 438,900 592,695 (153,795) 802,722 620,715 182,007 Public Safety 3,672,714 3,478,006 194,708 Public Works 1,580,350 1,572,681 7,669 787,652 514,453 273,199 7,776 (7,776) Parks, Recreation and Culture 775,835 822,559 (46,724) Capital Outlay 15.400 16.442 (1.042) 57.500 67.629 (10.129) 1.793.482 1.492.027 301,455 _ - TOTAL EXPENDITURES 8.176,421 8.232,941 (56,520) 1.647.874 1.202.797 445.077 1.793.482 1.499.803 293,679 EXCESS OF REVENUES OVER j a 7 7, & I & (UNDER) EXPENDITURES (198,921) 566,615 765,536 697,081 2,264,979 1,567,898 (1,793,482) (1,492,258) 301,224 — OTHER FINANCING- SOURCES (USES) 0) (11 11-100) Operating Transfers In (Out) 224.2001 123.284 (101916) f546A97) (1.590.757) (1.044.660) 1.103.200 1.367.473 264.273 EXCESS OF REVENUES AND OTHER -- SOURCES OVER (UNDER) EXPENDITURES q 9`l.? 3 !i AND OTHER USES $ 25.279 689,899 $ 664.620150 984 674.222 $ 523.238 $ (690.282)if 24,785) $ 565.497 FUND BALANCES - BEGINNING OF YEAR 3,676,718 3,994,720 852,864 PRIOR PERIOD ADJUSTMENT 87.638 FUND BALANCES - BEGINNING OF YEAR AS RESTATED 3,764.356 3.994.720 852.864 FUND BALANCES - END OF YEAR $ 4.454.255 $ 4.668.942 $ 728.079 PRELIMINARY DRAFT The accompanying notes are an irtegral partof this statement. FOR DISCUSSION NOV 1 71993 P POSES L CITY OF DIAMOND BAR, CALIFORNIA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS ALL PROPRIETARY FUND TYPES Year Ended June 30, 1993 OPERATING REVENUES Charges for Services TOTAL OPERATING REVENUES OPERATING EXPENSES Contractual Services TOTAL OPERATING EXPENSES OPERATING INCOME NON OPERATING REVENUES (EXPENSES) Interest Revenue INCOME BEFORE OPERATING TRANSFERS OPERATING TRANSFERS IN (OUT) NET INCOME RETAINED EARNINGS - BEGINNING OF YEAR RETAINED EARNINGS - END OF YEAR The accompanying notes are 'an integral`pait of this statement. -5- Internal Service Year Ended June 30 1993 1992 $ -0_ $ -0_ -0- -0- 8,573 2.500 8,573 2,500 (8,573) (2.500) 16,581 15,312 8,008 12,812 100,000 100,000 108,008 112,812 352,647 239.835 460 655 352 647 CITY OF DIAMOND BAR, CALIFORNIA STATEMENT OF CASH FLOWS - ALL PROPRIETARY FUND TYPES Year Ended June 30, 1993 The accompanying notes are an integral part 0 this° statement.' Internal Service Year Ended June 30 1993 1992 CASH FLOWS FROM OPERATING ACTIVITIES Claims and Judgements Payment (8,573 (2,500 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (8,573) (2,500) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Operating Transfers In 100,000 100.000 NET CASH PROVIDED (USED) BY NONCAPITAL FINANCING ACTIVITIES 100,000 100.000 CASH FLOWS FROM INVESTING ACTIVITIES Interest On Investments 16,581 17,427 NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES 16,581 17,427 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 108,008 114,927 CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 352,647 237.720 CASH AND CASH EQUIVALENTS - END OF YEAR 460,655 352 647 RECONCILIATION OF NET OPERATING INCOME TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES Net Operating Income (8,573 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 8 573 2 500 Cash and cash equivalents includes all cash accounts as well as short-term investments with a maturity date within three months of the date acquired by the City. The accompanying notes are an integral part 0 this° statement.' NOTE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS IN ORDER OF PRESENTATION Year Ended June 30, 1993 DESCRIPTION Summary of Significant Accounting Policies, Property Tax Calendar Composition of Cash Interfund Receivables and Payables General Fixed Assets Claims and Judgements Payable Long -Term Obligations Compensated Absences Payable Advances - County of Los Angeles Lease Payable Fund Balance/Retained Earnings Reserves Deposits Joint Venture City Employees' Retirement Plan (Defined Benefit Pension Plan) Expenditures in Excess of Appropriations _ NOV I r 1993 Contingencies PRELIMINARY T FOR DISCUSSION PURPOSES ONLY _7_ PAGE 8-12 13 13-15 15 16 16 16-17 17 17 17 18 18-19 19-20 21-23 24 24 CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 1) SUM[NIARY OF SIGNIFICANT ACCOUNTING POLICIES The City of Diamond Bar, California was incorporated April 18, 1989 as a General Law City. The City operates under a Council -Manager form of government and provides the following services: public safety (police), highways and street, parks, public improvements, community development (planning, building, zoning) and general administrative services. The financial statements of the City of Diamond Bar, California have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the government's accounting policies reflected in these financial statements are summarized as follows: A) Description of Entity Included within the financial reporting entity City of Diamond Bar, is solely the City of Diamond Bar. Other governmental agencies providing services either to the City in its entirety, or to a portion thereof included: State of California County of Los Angeles Tri- Valley Water District Walnut Valley Water District Pomona Unified School District Walnut Valley Unified School District Mount San Antonio Community College District California Polytechnic University Consolidated Fire Protection District The City of Diamond Bar does not exercise oversight responsibility over any of the above entities. Each of these agencies is governed by an independently - elected governing board other than the City Council of the City of Diamond Bar. These agencies are not financially dependent on the City, and the City does not have the ability to significantly influence their management or operations. Consequently, financial information for these agencies is not included within the scope of this financial report. - As recommended by GASB Code Section J50.103, financial data for joint ventures which do not meet the criteria for inclusion within the reporting entity have been reported in the footnotes. B) Basis of Presentation - Fund Accounting The accounts of the City are organized on the basis of funds and account groups each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self -balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or — expenses, as appropriate. PRELIMINARY DRAFT - -8- FOR DISCUSSION NOV f 7 # PURPOSES ONLY CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued B) Basis of Presentation —Fund Accounting - Continued Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into five generic fund types and three broad fund categories as follows: Governmental Funds General Fund - The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds - Special Revenue Funds are used to account for the proceeds of specific revenue resources (other than major projects) that are legally restricted to expenditures for specific purposes. Capital Project Funds - Capital Project Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by Proprietary and Trust Funds). Proprietary Funds Internal Service Funds - Internal Service Funds are used to account for goods or services provided by one department to other departments on a cost reimbursement basis. The Internal Service Fund of the City of Diamond Bar consists solely of the Self Insurance Fund. Fiduciary Funds Trust and Agency Funds - Trust and Agency Funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governments, and/or other funds. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. C) Fixed Assets and Long -Term Liabilities The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund are determined by its measurement focus. All governmental funds are accounted for on a spending or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance (net current assets) is considered a measurement of "available spendable resources". Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources of "available spendable resources" during a period. FREED AFT -9- FOR DISCUSSION Nov, 1 r 43 PURPOSES ONLY CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued C) Fixed Assets and Long -Term Liabilities - Continued Fixed assets used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than - intergovernmental funds. Public domain ("infrastructure") general fixed assets consisting of certain improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and lighting systems, are not capitalized as general fixed assets. No depreciation has been provided on general fixed assets. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at their estimated fair value on the date donated. Long-term liabilities expected to be financed from governmental funds are accounted for in the General Long -Term Obligation Account Group, not in the governmental funds. The two account groups are not "funds". They are concerned only with the measurement of financial position. They are not involved with measurement of results of operations. _.._ Noncurrent portions of long-term receivables due to governmental funds are reported on their balance sheets, in spite of their spending measurement focus. Special reporting treatments are used to indicate, however, that they should not be considered "available spendable resources", since they do not represent net current assets. Recognition of governmental fund type revenues represented by noncurrent receivables is deferred until they become current receivables. Noncurrent portions of long-term loans receivable are offset by fund balance reserve accounts. Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by non-current liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund expenditures or fund liabilities. They -- are instead reported as liabilities in the General Long -Term Obligation Account Group. All proprietary fund types are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Their reported fund equity (net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net total assets. D) Basis of Accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of -- accounting relates to the timing of the measurements made, regardless of the measurement focus applied. nEWRINARY -10- FOR DISCUSSION NOV 1 7 1993 PURPOSES ONLY CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued D) Basis of Accounting - Continued All governmental funds are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become measurable and available as net.current assets. The primary revenue sources susceptible to accrual are sales taxes, property taxes, special assessments, fines and forfeitures which are considered "measurable" when in the hands of intermediary collection governments and are recognized as revenue at that time. Anticipated refunds of such taxes are recorded as liabilities and reductions of revenues when they are measurable and their validity seems certain. Expenditures are generally recognized under the accrual basis of accounting. Exceptions to this general rule are (1) principal and interest on general long-term debt which is recorded as expenditure on its due date (2) disbursements for inventory type items are considered expenditures at the time of purchase and (3) expenditures are not divided between years by recording of prepaid expenses. All proprietary funds are accounted for using the accrual basis of accounting. recognized when they are incurred. E) Budgets and Budgetary Accounting Their revenues are recognized when they are earned, and their expenses are The City uses the following procedures in establishing the budgetary data reflected in the financial statements. 1) Before the beginning of the fiscal year the City Manager submits to the City Council a proposed budget for the year commencing the following July I. 2) Public hearings are conducted to obtain taxpayer comments. 3) The budget is subsequently adopted through passage of a resolution. 4) All appropriated amounts are as originally adopted or as amended by the City Council and lapse at year end. 5) Encumbrances: and Continuing Appropriations are rebudgeted on July 1 by Council action. 6) Original appropriations are modified by supplementary appropriation and transfers among budget categories. The City Council approves all significant changes. 7) Formal budgetary integration is employed as a management control device during the year for the General, Special Revenue and Capital Project Funds. 8) Budgets for General, Special Revenue and Capital Project Funds are adopted on a basis consistent with generally accepted accounting- principles- PRELIMINARY rinciples.ELI I Y AFT -11- FOR DISCUSSION 19 PURPOSES ONLY CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued F) Appropriations Limit Under Article XIIIB of the California Constitution (the Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller or returned to the taxpayers through revised tax rates, revised fee schedules or other refund arrangements. For the fiscal year ended June 30, 1993, proceeds of taxes did not exceed appropriations. G) Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary integration in the Governmental Fund Types. Encumbrances outstanding at year-end are reported as reservations of fund balance since they do not constitute expenditures or liabilities. H) Investments Investments are stated at cost (see Note 3), except that assets of the deferred compensation plan agency fund are reported at fair market value rather than cost, in accordance with GASB, Statement 2. If market values decline below cost, no loss is recorded if such declines are considered temporary. I) Claims and Judgments Claims and judgments are accounted for in accordance with GASB Codification Section 050.110, which requires that expenditures for claims be recognized when it is probable that the liability has been incurred at year end and the amount of the loss can be reasonably estimated. Accordingly, such claims are recorded as liabilities in the financial statements. J) Prior Period Adjustment Included in the General Fund is a prior period adjustment of $87,638 increasing fund balance for prior year prepaid expenditures. K-) Comparative Data Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the City's financial position and operations. However, comparative (i.e., presentation of prior year totals by fund type) data have not been presented in each of the statements since their inclusion would make the statements unduly complex and difficult to read. L) Total Columns on Combined Statements - Overview Total columnsqn :the Combined Statements _ are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns, do: not present. financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Neither •is-suchAata comparable to a consolidation. Interfund eliminations have not been mads in the aggregation of this data. M k n RAr g -12- FOR DISCUSSION NOV 1 7 1993 PURPOSES ONLY CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 2) PROPERTY TAX CALENDAR Property taxes are assessed and collected each fiscal year according to the following property tax calendar: Lien date March 01 Levy . Date July 01 to June 30 Due date November 01 - 1st installment March 01 - 2nd installment Delinquent date December 10 - lst installment April 10 - 2nd installment Under California law, property taxes are assessed and collected by the counties up to l % of assessed value, plus other increases approved by the voters. The property taxes go into a pool, and are then allocated to the cities based on complex formulas prescribed by the state statutes. 3) COMPOSITION OF CASH - $11,294,851 The City of Diamond Bar maintains a cash and investment pool that is available for use for all funds. Each fund type's position in the pool is reflected in the combined balance sheet as cash. Cash and, investments by credit risk, carrying amount and market value of investments at June 30, 1993, consisted of the following: Carrying Market Category Amount Value 1 2 3 Fiscal Agent Investments $ 178,845 $ 178,845 $ $ $" 178,845 Demand Accounts* State of California - LAIF Petty Cash Total Cash and Investments (Bank Balances) Outstanding Checks Total ,Cash andInvestments(Book Balances) * 100 Percent Insured or Collateralized 400,363 400,363 579,208 579,208 10,805,793 10,805,793 700 700, 11,385,701 11,385,701 (90, 850) (90,85 $ 11,294,851 $ 11.294,851 -13- 400.363 L-490,363 1 -0- LIL8..845 PRELIMINARY DRAFT FOR DISCUSSIM PURPOSES ONLY NOV ! 7 1993 _ CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 3) COMPOSITION OF CASH - $11,294,851- Continued Classification of Deposits and Investments by Credit Risk GASB statement 3 requires that deposits and investments be classified into three categories of credit risk. These categories are as follows: Deposits: Category 1 - Deposits which are insured or collateralized with securities held by the City or by its agent in the City's name. Category 2 - Deposits which are collateralized with securities held by the pledging financial institution's trust department or agent in the City's name. Category 3 - Deposits which are uncollateralized, or collateralized with securities held by the pledging financial institution or by its trust department or agent but not in the City's name. Investments: Category 1 - Includes investments that are insured or registered or for which the securities are held by the City or its agent in the City's name. Category 2 - Includes uninsured and unregistered investments for which the securities are held by the broker's or dealer's trust department or agent in the City's name. Category 3 - Includes uninsured and unregistered investments for which the securities are held by the broker or dealer or by its trust department or agent but not in the City's name. The following disclosures are made in accordance with Statement Number 3 of the Governmental Accounting Standards Board: Authorized Investments -- Under provisions of the City's Investment Policy the City Treasurer may deposit funds in the following investment media to the extent permitted by applicable law: (1) Securities of the U.S. Government or by its agencies; (2) certificates of deposit or time deposits placed with commercial banks or savings and loan companies; (3) bankers acceptances; (4) negotiable certificates of deposit; (5) commercial paper; (6) Local Agency Investment Fund; (7) repurchase agreements; (8) passbook savings deposits; (9) money market funds; (10) investment agreements or contracts representing unconditional obligations; (11) Tax-exempt obligations. The City selects its investments based on safety, liquidity and yield. PRELIMINARY DRAFT - t FOR DISCUSSION - �... -14- PURPOSES OILY NIV 17 1993 CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 3) COMPOSITION OF CASH - $11,294,851- Continued Local Agency Investment Fund (LATE) The LAIF is a special fund of the California State Treasury through which local governments may pool investments. Each city may invest up to $15,000,000 in the fund. Investments in LAIF are highly liquid, as deposits can be converted to cash within twenty-four hours without loss of interest. Investments with LAIF are secured by the full faith and credit of the State of California. Collateral for Deposits Under the provisions of the California Government Code, California banks and savings and loan associations are required to secure a city's deposits by pledging government securities as collateral. The market value of the pledged securities must equal at least 110% of the city's deposits. California law also allows financial institutions to secure city deposits by pledging first trust deed mortgage notes having a value of 150 % of a city's total deposits. The collateral for certificates of deposit is generally held in safekeeping by the Federal Home Loan Bank in San Francisco as the third -party trustee. The securities are physically held in an undivided pool for all California public agency depositors. The State Public Administrative Office for public agencies and the Federal Home Loan Bank maintain detailed records of the security pool which are coordinated and updated weekly. The City Treasurer, at his or her discretion, may waive the 110% collateral requirement for deposits which are insured up to $100,000 by the FDIC. 4) INTERFUND RECEIVABLES AND PAYABLES - $384,068 The balances due from and due to other funds as of June 30, 1993 are as follows: Due From: Due To: General Fund $ 131,541 General Fund $ 251,507 Community Development Block Grant 194,865 Capital Improvement Fund 132,561 Traffic Safety 57.662 CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 5) GENERAL FIXED ASSETS - $3,594,835 Activities relating to the general fixed assets are presented as follows: These amounts represent estimates for liability claims from Southern California Joint Powers Insurance Authority, the City's Claim Administrators, for which the liability is probable. City staff concurred that these are the City's best estimates. The estimated liability at June 30, 1993 as determined by Southern California Joint Powers Insurance Authority is $92,050. 7) LONG-TERM OBLIGATIONS - $910,482 Activities relating to long-term obligations are presented as follows: Beginning Balance Additions Deletions Ending Balance General Government Ending Description Issue Maturity Interest Authorized Furniture and Fixtures $ 113,424 $ 3,841 $ $ 117,265 Machinery and Equipment 298,094 42,547 340,641 Total General Government 411,518 46,388 -0- 457,906 Community Services $ $ 90,629 519,853 Lease Payable (Note 10) 7-1-92 Land 1,560,000 401,615 100,000 1,961,615 Buildings Pool. Rate , 65,025 L-460,.349 65,025 Improvements 579,301 FOR DSSqPSSIONOV 579,301 - Construction In Progress 35,759 560,254 65,025 530,988 - Total Community Services 2,175,060 1,026,894 65,025 3,136,929 Total General Fixed Assets $ 2,586,578 $ 1,073,282 $ 65,025 $ 3,594,835 6) CLAIMS AND JUDGEMENTS PAYABLE - $327,982 These amounts represent estimates for liability claims from Southern California Joint Powers Insurance Authority, the City's Claim Administrators, for which the liability is probable. City staff concurred that these are the City's best estimates. The estimated liability at June 30, 1993 as determined by Southern California Joint Powers Insurance Authority is $92,050. 7) LONG-TERM OBLIGATIONS - $910,482 Activities relating to long-term obligations are presented as follows: Date of Years of Rates of Amount Beginning New Matured Ending Description Issue Maturity Interest Authorized Balance Indebtedness During Year Balance Compensated Absences Payable _-- (Note 8) Advances - County of L.A. (Note 9) N/A 4/18/89 NIA N/A $ N/A $ N/A 30,280 519,853 $ 60,349 $ $ 90,629 519,853 Lease Payable (Note 10) 7-1-92 1992-1995 Variable 400,000 400.000 100,000 300,000 Totals * - Los Angeles County Tr ** - As Monies Become Available Pool. Rate , $ 550,133 . TREL11,11Hr a L-460,.349 $ 100,000910 482 FOR DSSqPSSIONOV 1 7 1993 PURPOSES ONLY CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 7) LONG-TERM OBLIGATIONS - $910,482 - Continued The future debt requirements are presented below: Lease Payable Year Principal Interest 1994 $ 100,000 $ 14,790 1995 100,000 9,860 1996 100.000 4.930 1--100..,.000 $ 29,580 8) COMPENSATED ABSENCES PAYABLE - $90,629 After twelve months continuous service with the City, full time employees receive from ten (10) to twenty (20) days vacation each year depending upon length of service. Vacation can be accumulated up to a maximum of 20 days. Unused vacation may be cashed in upon leaving employment with the City. City employees receive 3.08 hours of sick leave per pay period and can be accumulated up to a maximum of 144 hours. Unused sick leave may be _cashed in upon leaving employment at the rate of 1/2 the employee's current rate of pay. The liability for compensated absences will be funded, when required, from future City operations. 9) ADVANCES - COUNTY OF LOS ANGELES - $519,853 The City incorporated on April 18, 1989. All services within the City continued to be provided by the County of Los Angeles. The cost of those services are to be reimbursed by the City over a period not to exceed five years. The County is required to give the City credit for any revenue which the County retained that was generated within the City limits during the period of time the services were provided. The cost of reimbursement shall bear interest at a rate equivalent to the Los Angeles County treasury pool earnings rate. The outstanding balance of $519,853 at June 30, 1993 is currently in dispute. The ultimate disposition of the advance is not known at this time. However, pursuant to GASB statement 1 it is reflected as a liability inasmuch as it is both estimable and probable. 10) LEASE PAYABLE $300,000 The City has entered into a lease agreement as lessee for financing the acquisition of a reservoir- site. This agreement qualifies as a capital lease for accounting purposes and, therefore, the lease has been recorded at the present value of the future minimum lease payments. Payments of principal and interest are payable in annual installments commencing July 1, 1992. The interest payments are based on the average annual percentage interest paid on public investments made through the Local' Agency Investment Fund of the State of California. 111MARY DRAFT P'RELM _ —17— FOR DISCUSSION Nov 7 d PURPOSES ONLY CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 11) FUND BALANCE/RETAINED EARNINGS RESERVES Reserves segregate portions of fund balance and retained earnings that are not available spendable resources. The various reserves established as of June 30, 1993 are described below and tabulated as follows: Reserved For: Receivable Prepaid Expenditures Encumbrances Debt Service Total General Special Revenue Capital Project Fund Funds Funds $ 31,346 $ $ 84,752 122,608 52,925 14,698 910,482 $ 1,149,188 $ 52,925 $ 14,698 --- Reserved for Receivable - These reserves represent the noncurrent portion of the City's receivables which are not available spendable resources. Reserved for Prepaid Expenditures - These reserves represent prepayments recorded as assets which are not current financial resources. Reserved for Encumbrances - These reserves represent the portion of purchase orders awarded for which the goods or services had not yet been received at June 30, 1993. Although all appropriations lapse at year-end even if encumbered, the City intends either to honor the contracts in progress or to cancel them. Reserve for encumbrances are rebudgeted on July 1, by Council action. Reserved for Debt Service - These reserves for Debt Service represent reserves accumulated by the City of Diamond Bar that are legally restricted to the payment of long-term debt principal and interest amounts that mature in future years. 12) DEPOSITS - $257,332 Included in this amount is Deferred Compensation as follows: The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all City employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under this plan, all property and rights purchased with these amounts and all income attributable to those amounts, property or rights are (until made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the Plan), subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the City in the amount equal to the fair market value of the deferred account for each participant. The City believes thar°it 1s unlikely that 1t will use the assets to satisfy the claims of general creditors in the future. PRELIMINARY FOR DISCUSSION Fav 1 7 IMPURPOSES ONLY CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 12) DEPOSITS - $257,332 - Continued The following is a summary of the increases and decreases of the fund for the year ended June 30, 1993. Fund Assets, Beginning of Year Deposits Interest Administrative Expenses Disbursements Fund Assets, End of Year $ 128,433 49,013 12,742 (155) (11,188) 178,845 The City is a member of the Southern California Joint Powers Insurance Authority (Authority). The following joint venture disclosures are made in compliance with GASB Code Section J50.103: A) Description of Joint Powers Authority The Authority is comprised of 65 members and is organized under a Joint powers Agreement pursuant to the California Government Code. The purpose of the Authority, is to arrange and. administer programs of_insurance for the pooling of self-insured losses and to purchase excess insurance coverage. Each member city has a representative on the Board of Directors. Officers of the Authority are elected annually by the Board members. B) Self -Insurance Programs of the Authority General Liability Insurance: Annual deposits are paid by member cities and are adjusted retrospectively to cover costs. Each member city, including Diamond Bar, self -insures for the first $10,000 of each loss. Participating cities then share in the next $10,000 to $500,000 per loss occurrence. Specific coverage includes comprehensive and general automotive liability, personalinjury, contractual liability, errors and omissions and certain other coverage. Beginning with fiscal year 1987, the Authority became fully self-insured. Separate deposits are collected from member cities to cover claims between $500,000 and $10,000,000. These deposits are also subject to retrospective adjustment. Workers' Compensation: Periodic deposits are paid by member cities and are adjusted retrospectively to cover costs. Each member city has a specific retention level. Member cities do not share or pay losses of other cities under $50,000. Losses of $50,000 to $250,000 are prorated among all participating cities on a payroll basis. Losses in excess of $250,000 are covered by excess insurance purchased by the participating cities, as a part of the pool, to a limit of $10 million. The City of Diamond Bar does not participate in the Authority's Workers' Compensation Program. Property Protection: The City of Diamond Bar participates in the All Risks Property Protection Program, which is primarily underwritten by a casualty insurance company. The annual deposits paid by participating member cities are based upon deductibility levels and are not subject to retroactive adjustments. -19- NOV 1 7 1993 PURPOSES ONLY CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 13) JOINT VENTURE - Continued C) Condensed Financial Information of the Authority Noted below is the condensed audited balance sheet of the Authority as of June 30, 1991 and 1992: Fund Equity - June 30 The Authority has no long-term debt. $ 6,205,901 June 30, 1993 information was not available at the date of this report. The aforementioned information is not included in the accompanying financial statements. C A 1 $ 7,027,570 1991 1992 Assets $ 59,754,150 $ 70,844,475 Liabilities to Member Cities (All Current) $ 53,548,249 $ 63,816,905 Fund Equity - Reserved for Insurance Claims and Losses 6.205,901 7,027,570 $ 59,754.150 $ 70,844,475 As a result of operations for the year ended June 30, 1992, fund equity, reserved, increased by $821,669. Noted below is the condensed audited statement of revenues, expenditures, and changes in fund equity of the Authority for the year ended June 30, 1991 and 1992: 1990-91 1991-92 Revenues $ 18,118,314 $ 26,962,103 Expenditures 18,812,989 26,140,434 Excess of Revenues Over Expenditures (694,675) 821,669 Fund Equity - July 1 6,900.576 6,205,901 Fund Equity - June 30 The Authority has no long-term debt. $ 6,205,901 June 30, 1993 information was not available at the date of this report. The aforementioned information is not included in the accompanying financial statements. C A 1 $ 7,027,570 CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 14) CITY EMPLOYEES' RETIREMENT PLAN (Defined Benefit Pension Plan) Plan Description The City of Diamond Bar contributes to the California Public Employees Retirement System (PERS), an agent multiple -employer public employee retirement system that acts as a common investment and administrative agent for participating public entities within the State of California. The total covered payroll for employees participating in the System for the year ended June 30, 1993 was $947,149. The total payroll for the year was $1,004,141. All full-time and part-time benefitted City employees are eligible to participate in the System. Part-time non -benefitted hourly employees do not participate in the system. Benefits vest after five years of service. City employees who retire at or after age fifty with five years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount that varies from 1.092 percent at age fifty to a maximum of 2.418 percent at age sixty-three of the three highest years' salary for non -safety employees for each year of credited service. The system also provides death and survivor's benefits. These benefit provisions and all other requirements are established by State statute and City ordinance. Employee and Employer Contribution Obligations The City makes the contributions required of City employees on their behalf and for their account. The rate is set by statute and therefore remains unchanged from year to year. The present rate for local miscellaneous members is 7 % of their annual wages. The City'is required to contribute the remaining amounts necessary to fund the benefits for its members, using the actuarial basis recommended by the PERS actuaries and actuarial consultants and adopted by the Board of Administration. Funding Status and Progress The amount shown below as the "pension benefit obligation" is a standardized measure of the present value of pension benefits, adjusted for the effects of step -rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help assess the funding status of the system on a going -concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure is the actuarial present value of credited projected benefits and is independent of the funding method used to determine contributions to the System. The pension benefit obligation was computed as part of an actuarial valuation performed as of June 30, 1992. Significant actuarial assumptions used in the valuation include (a)'a rate of return on the investment of present and future assets of 8.75 percent a year compounded annually, (b) projected salary increases of 5.25 percent _ a year compounded annually, attributable to inflation, and across the board real salary increases, (c) additional projected salary increases of 1.75 percent a year, attributable to seniority/merit, and (d) no post-retirement benefit increases. PRELIMINARY T _ -21- FOR DISCUSSION NOV 17 191 PURPOSES _ CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 14) CITY EMPLOYEES' RETIREMENT PLAN (Defined Benefit Pension Plan) - Continued The total unfunded pension benefit obligation applicable to the City employees was $(47,450) at June 30, 1992, as follows: Pension Benefit Obligation: Retirees and Beneficiaries Currently Receiving Benefits and Terminated Employees Not Yet Receiving Benefits $ 806 Current Employees: Accumulated Employee Contributions Including Allocated Investment Earnings 146,109 Employer -Financed. Vested -0- Employer-Financed Non Vested 116,322 Total Pension Benefit Obligation 263,237 Net Assets Available for Benefits At Cost (Market Value = $350,455) 310.687 Unfunded pension Benefit Obligation (47,450) -- Changes In The Pension Benefit Obligation From Last Year Due To: Changes in Benefit Provisions -0- Changes in Actuarial Assumptions -0- Actuarial information relating to the plan was not available from PERS at June 30, 1993. Actuarially Determined Contribution Requirements and Contribution Made PERS uses the Entry Age Normal Actuarial Cost Method which is a projected benefit cost method. That is, it takes into account those benefits that are expected to be earned in the future as well as those already accrued. According to this cost method, the normal cost for an employee is the level amount which would fund the projected benefit if it were paid annually from date of employment until ietiement. PERS uses a modification of the Entry Age Cost method in which the employer's total normal cost is expressed as a level percent -- of payroll. PERS also uses the level percentage of payroll method to amortize any unfunded actuarial liabilities. The amortization period of the unfunded actuarial liability ends. on June 30,;,20.9. The significant actuarial assumptions used to compute the actuarially determined contribution requirement are the same as those used to compute the pension benefit obligation, as previously described _22_ PRELIMINARY DRAFT f0 DISCUSSION PURPOSES ONLY NOV 7 CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 14) CITY EMPLOYEES' RETIREMENT PLAN (Defined Benefit Pension Plan) - Continued The contribution to the system for 1993 of $129,570 was made in accordance with actuarially determined requirements computed through an actuarial valuation performed as of June 30, 1992. The contribution consisted of (a) 128,831 normal cost (13.602 percent of current covered payroll) and (b) $739 amortization of the unfunded actuarial accrued liability (0.078 percent of current covered payroll). The contributions were paid entirely by the City. Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. Systemwide ten year trend information may be found in the California Public Employees' Retirement System Annual Report. Ten year trend information for the City of Diamond Bar is not provided in this report. Therefore, within the City's financial statement, ten years of historical trend information are required since the annual report for PERS does not reflect information for individual agencies. 1989-90 was the fust year the City participated in PERS. Until ten years of data are available, as many years as are available should be presented. Therefore, the trend information for 1989-90 through 1992-93 is summarized as follows: *Not yet; available **These contributions were made m accordance with actuarially determined requirements. HaELININARY There were no post employment benefits provided to City employees other than the pension plan. FOR DISCUSSION PURPOSES ONLY -23- (5) (6) (7) (4) Estimated Unfunded Pension Employer Contributions (1) (2) Unfunded Annual Covered Benefit Obligation Expressed As Fiscal Year Net Assets Pension (3) Pension Benefit Payroll For As A Percentage A Percentage Of Annual Ending Available For Benefit Percentage Funded Obligation The Succeeding Of Covered Payroll Covered Payroll June 30 Benefits Obli ation (1)/(21 (2)-(1) Fiscal Year (4)/(5) ** 1990 $ 25,070 $ 28,880 86.8% $ 3,810 $ 312,210 1.2% 13.856% 1991 131,800 122,060 108.0% (9,740) 936,030 -1.0% 13.856% 1992 310,680 263,230 118.0% 47,460 1,106,050 -4.3% 14.874% 1993 * * * * * * 13.602% *Not yet; available **These contributions were made m accordance with actuarially determined requirements. HaELININARY There were no post employment benefits provided to City employees other than the pension plan. FOR DISCUSSION PURPOSES ONLY -23- CITY OF DIAMOND BAR, CALIFORNIA NOTES TO FINANCIAL STATEMENTS Year Ended June 30, 1993 15) EXPENDITURES IN EXCESS OF APPROPRIATIONS Excess of expenditures over appropriations in individual funds are as follows: Fund Excess General Fund $ 56,520 OTS Fund 4,035 Air Quality Improvement Fund 3,155 Capital Improvement Fund 270,012 These were financed through beginning fund balances and revenues in excess of estimated revenues. 16) CONTINGENCIES As of June 30, 1993, in the opinion of the City Administration, there are no outstanding matters which have a significant effect on the financial position of the funds of the City. 'HOV s 1` 711993 __ _24_ Property Taxes Sales Tax Transient Occupancy Taxes Franchises Real Property Transfer Taxes Licenses and Permits Fines and Forfeits Interest Motor Vehicle in Lieu Fees Mobile Home in Lieu Fees Homeowners' Property Tax Relief Cigarette Taxes Miscellaneous Revenue from Other Governments Refunds and Reimbursements Other Revenues HT1 CITY OF DIAMOND BAR, CALIFORNIA GENERAL FUND - STATEMENT OF REVENUES - BUDGET AND ACTUAL Year Ended June 30, 1993 -25- SCHEDULE Budget Actual $ 1,274,000 $ 1,208,688 2,000,000 2,272,623 100,000 196,364 600,000 612,668 60,000 121,585 752,500 724,694 55,000 24,315 300,000 245,114 2,500,000 2,822,893 5,653 30,000 21,063 6,580 300,000 436,011 88,109 6.000 13.196 $ 7,977,500$ 8,799,556 City Council City Attorney City Manager City Clerk Finance Community Promotion Planning Building and Safety Emergency Preparation General Government Insurance Police Fire Animal Control Public Works Community Services Parks Capital Outlay CITY OF DIAMOND BAR, CALIFORNIA GENERAL FUND - STATEMENT OF EXPENDITURES - BUDGET AND ACTUAL Year Ended June 30, 1993 iqDV 17 1993 TOTAL PRELIMINARY D SCHEDULE Budget Actual $ 92,250 $ 93,111 165,000 193,729 297,190 232,326 179,965 172,971 197,150 170,853 51,155 94,887 462,112 530,110 220,000 229,949 28,400 32,622 228,900 261,863 210,000 330,832 3,610,188 3,421,003 7,526 7,359 55,000 49,644 1,580,350 1,572,681 457,980 506,849 317,855 315,710 15,400 16,442 $ 8,176,421 $ 8,232,941 CITY OF DIAMOND BAR, CALIFORNIA COMBINING BALANCE SHEET - SCHEDULE 3 ALL SPECIAL REVENUE FUNDS Page 1 June 30, 1993 LIABILITIES AND FUND BALANCES Accounts Payable $ $ $ 1,719 $ 7,272 $ $ $ 26,456 $ 11,241 Accrued Liabilities 94 43 371 303 124 Due to Other Funds 57,662 194,865 TOTAL LIABILITIES 57,662 94 1,762 7,643 -0- -0- 26,759 206.230 Reserved for Encumbrances 47,768 5,157 Unreserved- Designated 2,395,627 493,830 19,760 188,187 156,225 168,488 - TOTAL FUND BALANCES -0- 2,443,395 493,830 19,760 188,187 156,225 173,645 -0- TOTAL LIABILITIES AND FUND BALANCES 57 662 $ 2,443,489. 495,592 27 403 188 187 156225 LID404 1---10-6230 II DRAFT _27- FOR DISCUSSION Nov 17 PURPOSES ONLY Community Traffic Gas Prop. A Solid Park Fees A.D. Development Safety Tax Transit Waste Fund SB 821 No. 38 Block Grant ASSETS ASSETS Cash $ $ 2,443,489 $ 495,592 $ 21,242 $ 188,187 $ 154,686 $ 195,160 $ Accounts Receivable 6,161 Interest Receivable Due from Other Governments 57.662 1,539 5.244 206,230 TOTAL, ASSETS 57,662 $ 2,443,489 495,59 2? 403 188,187 156,225 200 404 $ 206.230 LIABILITIES AND FUND BALANCES Accounts Payable $ $ $ 1,719 $ 7,272 $ $ $ 26,456 $ 11,241 Accrued Liabilities 94 43 371 303 124 Due to Other Funds 57,662 194,865 TOTAL LIABILITIES 57,662 94 1,762 7,643 -0- -0- 26,759 206.230 Reserved for Encumbrances 47,768 5,157 Unreserved- Designated 2,395,627 493,830 19,760 188,187 156,225 168,488 - TOTAL FUND BALANCES -0- 2,443,395 493,830 19,760 188,187 156,225 173,645 -0- TOTAL LIABILITIES AND FUND BALANCES 57 662 $ 2,443,489. 495,592 27 403 188 187 156225 LID404 1---10-6230 II DRAFT _27- FOR DISCUSSION Nov 17 PURPOSES ONLY ASSETS Cash Accounts Receivable Interest Receivable Due from Other Governments TOTAL ASSETS LIABILITIES Accounts Payable Accrued Liabilities Due to Other Funds TOTAL LIABILITIES FUND BALANCES Reserved for Encumbrances Unreserved - Undesignated TOTAL FUND BALANCES TOTAL LIABILITIES AND CITY OF DIAMOND BAR, CALIFORNIA COMBINING BALANCE SHEET - ALL SPECIAL REVENUE FUNDS June 30, 1993 SCHEDULE3 Page 2 A.D. A. D. Prop. C OTS Air Quality Totals - June 30 No. 39 No. 41 Transit Fund Improvement 1993 1992 ASSETS $ 132,182 $ 144,795 $ 870,615 $ $ 67,785 $ 4,713,733 $ 3,281,540 6,160 171,782 146 1,654 2.426 42.814 317,569 641.245 133 836 147 220 913 429 $ -0_ $ 67,785 $ 5,037,462 $ 4,094,713 $ 28,289 $ 13,218 $ $ $ 26,227 $ 114,422 $ 80,045 274 238 124 1,571 864 252,527 19,084 28,563 13,456 -0- -0- 26,351 368,520 99,993 52,925 200,170 105,273 133.764 913,429 41.434 4,616,017 3,794,550 105,273 133,764 913,429 -0- 41,434 4,668,942 3,994,720 FUND BALANCES 133 836 $-147,220 913 429 $ -0- $ 67,785 $ 5,037,462 $ 4,094,713 RT DRAFT.. FORDISCUSSION NOV PURPOSES ONLY -28- CITY OF DIAMOND BAR, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - SCHEDULE 4 ALL SPECIAL REVENUE FUNDS Page 1 Year Ended June 30, 1993 Community - Traffic Gas Prop. A Solid Park Fees A. D. Development Safety Tax Transit Waste Fund SB 821 No. 38 Block Grant REVENUES Franchises, $ $ $ $ 82,245 $ $ $ $ Special Assessments 251,286 - Intergovernmental Revenues 1,210,046/ 536,588 ; 18,464 358,658.-/ Fines and Forfeits 98,927 Use of Money and Property 481 112,306 23,346 800 8,110 5,984 5,324 Developer Fees - TOTAL REVENUES 99.408 1.322,352 559.934 83,045 8,110 24,448 256,610 358,658 EXPENDITURES - General Government - Nondepartmental 11,207 537,460 67,814 Public Works 56,435 9,757 150,585 37,342 - Capital Outlay 29,674 TOTAL EXPENDITURES -0- 11.207 593,895 77,571 -0- -0- 180,259 37.342 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES 99,408 1,311,145 (33,961) 5,474 8,110 24,448 76,351 321,316 OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) L99,40 (1,167,033) (3,000) (321.316) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES -0- 144,112 (36,961) 5,474 8,110 24,448 76,351 -0- FUNDBALANCES - BEGINNING OF YEAR -0- 2,299,283 530,791 14,286 180,077 131,777 97.294 -0- FUND - END OF YEAR $ -0_ $ 2,443,395 493 830 19 760 188,187 156,225 173 645 $ -0- - I11ARS DRAFT -29- FOR" DISCUSSION'7 PURPOSES ONLY CITY OF DIAMOND BAR, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL SPECIAL REVENUE FUNDS Year Ended June 30, 1993 REVENUES Franchises Special Assessments Intergovernmental Revenues Fines and Forfeits Use of Money and Property Developer Fees TOTAL REVENUES EXPENDITURES General Government - Nondepartmental Public Works Capital Outlay TOTAL EXPENDITURES EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCES - BEGINNING OF YEAR FUND BALANCES - END OF YEAR SCHEDULE4 Page 2 A. D. A. D. Prop. C OTS Air Quality Totals -Year Ended June 30 No. 39 No. 41 Transit Fund Improvement 1993 1992 $ $ $ $ $ $ 82,245 $ 83,238 93,110 125,275 469,671 466,369 428,039 4,035 62,685-- 2,618,515 2,421,972 98,927 74,061 6,676 5,172 28,470 1,749 198,418 184,504 179.679 99,786 130,447 456,509 4,035 64.434 3,467,776 3,409,823 4,234 620,715 553,880 158,913 101,421 514,453 423,747 4,035 33,920 67,629 89,257 158,913 101,421 -0- 4.035 38,154 1,202,797 1,066,884 (59,127) 29,026 456,509 -0- 26,280 2,264,979 2,342,939 (1,590,757) (671,585) to !- � Toto, (59,127) `29,626 r. '> 456,509 -0- 26,280 674,222 1,671,354 -: 164,400 ,104,738 -456:920 -0- 15,154 3,994,720 2,323,366 105 273 '$`6336 ,913 429 $ -0- $ 41,434 $ 4,668,942 $ 3,994,720 PURPOSES ,: Y NOY 17 W -30- CITY OF DIAMOND BAR, CALIFORNIA COMBINING BALANCE SHEET - SCHEDULE 5 ALL CAPITAL PROJECT FUNDS - June 30, 1993 Grand Traffic Capital Totals - June 30 Avenue Mifigation Improvement 1993 1992 ASSETS ASSETS Cash $ 449,545 $ 303,759 $ $ 753,304 $ 921,876 Due from Other Funds; 132,561 132,561 TOTAL ASSETS 449,545 1-193,759 $ 132,561 885 865 921 876 LIABILITIES AND FUND BALANCES Accounts Payable $ 6,662 $ 18,521 $ 132,561 $ 157,744 $ 68;963 Accrued Liabilities 42 42 49 TOTAL LIABILITIES 6,704 18,521 132,561 157,786 69,012 FUND BALANCES Reserved for Encumbrances 8,927 5,771 14,698 31,537 Unreserved - Undesignated 433,914 279,467 713,381 821,327 TOTAL FUND BALANCES 442,841 285,238 -0- 728,079 852,864 - TOTAL LIABILITIES AND FUND BALANCES $-!!!:!L9..545 303 759 $ 132,561 885 865921 876 Nov 17 L I 10-w I � A If Y DRAFT FOR DISCUSSION v PURPOSES ONLY- - -31- _ CITY OF DIAMOND BAR, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL CAPITAL PROJECT FUNDS Year Ended June 30, 1993 REVENUES Use of Money and Property Other Revenues TOTAL REVENUES EXPENDITURES Public Works Capital Outlay TOTAL EXPENDITURES EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES) Operating Transfers In (Out) EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES FUND BALANCES - BEGINNING OF YEAR FUND BALANCES - END OF YEAR SCHEDULE Totals - Grand Traffic Capital Year Ended June 30 Avenue Mitigation Improvement 1993 1992 $ $ 6,444 $ 1,101 $ 7,545 $ 12,921 487,389 312,554 52,921 852.864 50,000 -0- 6,444 1,101 7,545 62,921 7,776 7,776 21,942 36,772 33,760 1,421,495 1,492,027 194,758 44,548 33,760 1,421,495 1,499,803 216,700 (44,548) (27,316) (1,420,394) (1,492,258) (153,779) 1,367,473 1,367,473 83,783 (44,548) (27,316) (52,921) (124,785) (69,996) 487,389 312,554 52,921 852.864 922,860 442 841 285 238$ -0- 728 079 852 864 -32-