HomeMy WebLinkAboutCAFR - FY 1998-99CITY OF DIAMOND BAR
Diamond Bar, California
Comprehensive Annual Financial Report
Year ended June 30, 1999
Prepared by
FINANCE DEPARTMENT
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CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
Year ended June 30, 1999
TABLE OF CONTENTS
EXHIBIT Page
INTRODUCTORY SECTION:
Letter of Transmittal i
Officials of the City of Diamond Bar xiii
Organization Chart xiv
Certificate of Award for Outstanding Financial Reporting (CSMFO) xv
Certificate of Achievement for Excellence in Financial Reporting (GFOA) xvi
FINANCIAL SECTION:
Independent Auditors' Report
General Purpose Financial Statements:
® Combined Balance Sheet - All Fund Types and Account Groups
AA
3
® Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types
BB
5
® Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual - All Governmental
Fund Types
cc
6
® Combined Statement of Revenues, Expenses and Changes
in Retained Earnings - Proprietary Fund Type
DD
8
• Combined Statement of Cash Flows - Proprietary Fund Type
EE
9
® Notes to the Financial Statements
10
Required Supplementary Information
27
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
EXHIBIT Page
Supplemental Data:
General Fund:
w Comparative Balance Sheets A-1 29
® Schedule of Revenue - Budget and Actual A-2 30
s Schedule of Expenditure - Budget and Actual A-3 31
Special Revenue Funds:
® Combining Balance Sheet
B-1
33
® Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
B-2
35
® State Gas Tax Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-3
37
® Proposition A Transit Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-4
38
® Proposition C Transit Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-5
39
® Integrated Waste Management Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
B-6
40
. CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUEM
® Air Quality Improvement Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Bicycle and Pedestrian Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Park Fees Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Park and Facility Development Fund:
Statement of Revenues, Expenditures and Changes
�
in Fund Balances - Budget and Actual
I
® Community Development Block Grant Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Citizens Option for Public Safety (COPS) Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Asset Seizure Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
® Landscape Maintenance Districts Funds:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
EXHIBIT
-Page
B-7
41
B-8
42'
B-9 43
B-10 44
B-11 45
B-12 46
B-13 47
B-14 48
CITY OF DIAMOND BAR
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENTS, (CONTINUED)
EXHIBIT Page
Capital Projects Funds:
® Combining Balance Sheet
C-1
50
® Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
C-2
51
• Grand Avenue Construction Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
C-3
52
® Capital Improvement Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
C-4
53
® Redevelopment Agency Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget and Actual
C-5
54
Agency Fund:
Deferred Compensation Fund:
Statement of Changes in Assets and Liabilities D-71 56
General Fixed Assets Account Group:
® Comparative Schedule of General Fixed Assets by Source E -I 58
® Schedule of General Fixed Assets by Function and Activity E-2 59
® Schedule of Changes in General Fixed Assets by Function and Activity E-3 60
Comprehensive Annual Financial Report
(Continued)
TABLE OF CONTENT.S—.(QQNE1—N-UED-A
EXHIBIT Page
Table No.
STATISTICAL SECTION:
1
61
General Governmental Expenditures by Function
General Governmental Revenues by Source
2
62
Secured Property Tax Levies and Collections
3
634
Assessed and Estimated Actual Values of Taxable Property
64
Property Tax Rates - All Direct and Overlapping Governments
5
65
Principal Taxpayers
6
7
66
67
Computation of Legal Debt Margin
Computation of Direct and Overlapping Debt
868
Schedule of Insurance in Force
9
69
Demographic and Miscellaneous Statistical Information
10
70
Residential and Commercial Construction
11
71
Ratio - Unreserved General Fund Balance to Annual
12
72
General Fund Expenditures
Schedule of Credits
13
73
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December 3, 1999
to,"ity of Diamond Bar
21660 E. Copley Drive, Suite 100 • Diamond Bar, CA 91765-4177
(909) 860-2489 • Fax (909) 861-3117
Internet: http://www.ci.diamond-bar.ca.us • City Online (BBS): (909) 860-5463
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, 1999. 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
Wen Chang sections: introductory, financial and statistical. The introductory section includes
Mayor this transmittal letter; the City's organizational chart and a list of principal
leborah H. O'Connor officials. The financial section includes general purpose financial statements and
Mayor Pro Tem schedules, the independent auditor's report, and the notes to the financial
statements. The statistical section includes selected financial and demographic
Eileen R. Ansari information on a multi-year basis.
Council Member
Carol Herrera In addition to the financial audit, the City is legally required to also conduct an
Council Member 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
Robert S. HuffStates Local Governments and Non -Profit Organizations. Information related to
Council Member this single audit, including the schedule of federal financial assistance, findings
and recommendations, and auditors' reports on the internal control structure and
compliance with applicable laws and regulations, are not included with this report
1 and are issued as a separate document.
-1-
Recycled paper
The Government Finance._Officers Association of the United States and Canada (GFOA.)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the City
of Diamond Bar for its comprehensive annual financial report for the fiscal year -ended
June 30, 1998. 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, whose
contents 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 four consecutive
years (fiscal years ended 1995, 1996, 1997, and 1998). We believe our current report
continues to conform to the Certificate of Achievement program requirements, and we
are submitting it to GFOA.
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 four consecutive years.
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, recreation services, park maintenance, capital improvement projects,
animal control, attorney services and engineering. Staff provided services include
customer service, community development (which includes planning, 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, and subsidized transit ticket
sales), community services (which includes senior services, park maintenance,
recreation contract management and landscape maintenance), economic development,
redevelopment, community relations, grant administration, financial management and
administrative management. All of these activities are included in this report.
in
ch. is
Fire protection is provided by the Los Angeles County Fire Di tax t whiills and are
independent of the City. Funds are collected through property
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 A ter Dnallyct. Refuse
efschools are
collection is provided by private waste collection companies.
provided by both the Walnut Valley Unified School District and the Pomona Unified
School District. Accordingly, none of these activities are included in this report.
ECONOMIC CONDITION AND OUTLOOK
Located at the junction of the 57 and 60 freeways, the City of Diamond Bar is at the hub
of the Los Angeles basin transportation network. A twenty-five mile radius
encompasses Pasadena, downtown Los Angeles, Long Beach, Irvine and Riverside.
Diamond Bar is a relatively young residential community of about 56,000, situated
among the meandering hills and valleys of Brea Canyon. Many desired services can be
found in Diamond Bar's shopping and business centers. Recreational opportunities
within the City include more than 70 acres of developed park facilities and an 18 hole
I
public golf course.
During the past couple of years, the City of Diamond Bar's economy has seen a slight
improvement. This fiscal year was no exception as illustrated by higher sales tax
revenues, new business starts and a slight reduction in office vacancy rates. o addition,
this year saw the construction of two large previously approve projects
consisting of 157 high quality upper scale homes and four new office buildings. This, in
addition to several new business commitments, is a signal that the economy in Diamond
Bar is improving and will continue to grow.
The City's Community Redevelopment Agency saw the implementation of the
Redevelopment Plan for the Economic Revitalization Project Area. By investing in the
community, the Redevelopment Agency is working to remove blighting conditions.
within the city's commercial areas and to improve traffic flow on the City's major
thoroughfares.
MAJOR INITIATIVES
For the Year. In the FY98-99 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.
The City Council continued its pledge to improve communications with all citizens and
cts and issues. Advisory task forces on off
seek out public input on several key proje
-
site parking and trash collection completed their work and reported their
recommendations to the City Council. The City Council formed new task forces to
advise on the development of a Community -Civic Center, and to study the proposed
expansion by the State of California to the Lanterman Developmental Center. These
groups held several meetings throughout the year and periodically submitted their
findings and recommendations to the City Council for review and possible action.
The City's Capital improvement Program for FY 98799 included several street
rehabilitation and maintenance projects. This included the rehabilitation of Diamond
Bar Boulevard from Palomino to the northerly City limits, and the elimination of water
o I
seepage problems on MeadowgIen Rad. As a part of the ongoing street maintenance
program, the City's pavement management plan divided the City into seven slurry seal
areas. This fiscal year marked the completion of the cycle with the slurry sealing of the
seventh and final area. During FY98-99, the Diamond Bar Community Redevelopment
Agency contributed to the design of two major street rehabilitation projects (located
along Brea Canyon Road and Golden Springs Road). Contracts for these projects were
awarded by the City, and it is anticipated that the construction will be completed during
FY 99-00.
Transportation and traffic continue to be major sources of concern for the City. The
City has continued its popular transit subsidy and Dial -a -Cab programs. The transit
subsidy program offers a 20% to 50% discount to citizens on transit passes for Foothill
Transit, Metrolink, and the MTA. The other extremely popular program implemented.
by the City is the Dial -a -Cab program, which offers senior and handicapped citizens
taxicab transportation at a nominal rate. These programs are being funded by
Proposition A Transit Funds.
The City has implemented an ongoing traffic signal program, which is designed to place
signals at several warranted locations throughout the community. Traffic signals
installed this year include Diamond Bar Boulevard at the intersections of
Palomino/Gentle Springs, and Montefino & Quail Summit.
For several years, the City Council has been concerned with traffic safety and the safety
of school children in and around the City's schools. In an effort to create a safe . I
environment for the City's school children, there were traffic studies done at each of the
City's schools. This information was assimilated into comprehensive report, which
outlined areas for improvement. This fiscal year saw the implementation of some of
these improvements. It is anticipated that over the next several years, more of these
recommendations will be implemented as resources come. available.
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. On that
note, the City Council appointed a Community/Civic Center Task Force. The task force
with the aid of an architectural firm explored various aspects of creating such a center.
Facilities being considered for the future community/civic center include a senior
service element, a library, a sports complex with a gymnasium and swimming p I ool, a
-iv-
city hall and a performing arts center. In addition to discussing the facilities to be
included within the center, eighteen sites were considered as possible locations. To
encourage community involvement, there was a community survey to allow the public
to voice their preferences. It is anticipated that the work of the Community/Civic
Center Task Force will continue as detailed designs are prepared and the fiscal analysis
of construction and operation costs are completed.
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. In addition, another marketing tool being
used is the City's Internet World Wide Web site. The web site has a vast amount of
useful information about the City, ranging from a community calendar to a site selection
area, which has pictures, maps and availability of commercial sites within the City. .
This fiscal year saw the start of construction of four new office buildings in the Gateway
Corporate Center and the addition of several new retail establishments.
The City continued to support the Diamond Bar branch of the Los Angeles County
Public Library. This was done through the library computer program which was
originally implemented by the City. This includes the provision of ongoing technical
assistance, various computer programs, and intemet access. This program has provided
a wonderful resource to the community which can be used by all, whether it is a student
working on a research paper or someone wanting to look at the City'; web page on the
internet..
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.
Reserves have been built in anticipation of a funding loss which was anticipated to
occur in FY97-98. The City has received State subventions based upon an
incorporation population of 74,115. By law, starting in FY97-98, these subventions
were to be based on the actual population, which is estimated to be. 56,000. Assembly
Bill 1226 and Senate Bill 1584 re -instituted the City's incorporation population in
January 1998. These statutes provide for the City to continue to receive State
subventions based on the incorporation population until December 31, 1999. Operating
expenditures over the past two fiscal years have been reduced to compensate for the
anticipated lose in revenues. The goal is to implement revenue enhancement activities
and expenditure reduction decisions that will continue to mitigate the impact of this
"shortfall".
To that end, the City Council has selected as its number one goal for FY99-00, the
creation of an Economic Development Strategic Plan. Such a plan will provide a
blueprint for how the City hopes to enhance the economic stability of the community,
-v-
and would include measures for attracting new businesses, retaining existing businesses
and providing necessary business assistance. It is anticipated that the plan will also
include revitalization ideas for existing commercial development.
As stated earlier, to further increase economic growth opportunities within the City, the
City formed the Diamond Bar Community Redevelopment Agency in April 1996. The
Diamond Bar Economic Revitalization Area includes most of the City's commercial and
industrial districts. This redevelopment plan provides a framework for future activities.
Some of these activities may include a Commercial and Industrial Rehabilitation
program, a Business Expansion and Retention Program, and a Parking Improvements
Program.
FY1998-99 saw the commencement of major redevelopment activities. got underway.
The Redevelopment Agency entered into two Development and Disposition
Agreements. These agreements provided for the building of four office buildings located
within the Gateway Corporate Center. These buildings will be the future home of
Allstate Insurance Company and The Travelers Group. This building activity has
encouraged other development within the Corporate Center further enhancing the City's
economic future.
FINANCIAL INFORMATION
Internal Control Structures
Management of the City is responsible for establishing and maintaining an internal.
control structure designed to ensure 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 confornuty 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 $2,521,570.
As demonstrated by the statements and schedules included in the Financial section of
this Report, the City meets its responsibility for sound financial management.
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Accounting System
The City's accounting records for general government operations and agency funds are
maintained on a modified accrual basis. Accordingly, revenues are recognized when
measurable and available, and expenditures are recognized when goods and services are
received. Accounting for the City's internal service operations are maintained on the
accrual basis. In addition, the City maintains a General Fixed Assets Account Group to
account for fixed assets acquired by the City which are not part of the internal service
funds. The City also maintains a General Long Term Debt Account Group to record the
City's long term debt obligations including accumulated employee vacation and sick
time.
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, 1999 and the amount and
percentage of increases or decreases in relation to prior year revenues.
INCREASE PERCENT
PERCENT (DECREASE) INCREASE
REVENUES
AMOUNT
OF TOTAL
FROM 1997-98
(DECREASE)
Taxes
5,878,376
24.99%
366,621
6.65%
Special Assessments
553,443
2.35%
(8,329)
-1.50%
Licenses, Permits, and Fees
2,147,195
9.13%
900,040
72.17%
Intergovernmental
6,535,812
27.79%
(2,642,237)
-28.79%
Fines & Forfeitures
573,449
3.30%
354,374
161.76%
Charges for Services
481,248
2.77%
49,228
11.39%
Proceeds from Sale of Prop
6,095,931
5.92%
6,095,931
--
Interest
1,191,305
6.66%
24,751
-0.64%
Other Revenue
63,309
0.36%
(1,266.648)
-95.24%
TOTAL
23,520,068
100.00%
3,873,731
Revenues for the 1997-98 fiscal year were $19,646,337 as compared with $23,520,068
for the 1998-99 fiscal year, an increase of $3,873,731 or 19.72 percent.
There were increases in several of the tax categories. The major increases were in Sales
Tax and Transient Occupancy Tax. The increase in Sales Tax is a sign of an improving
economy, as well as the seeing some results from the City's aggressive economic
development activities. During FY97-98, one of the City's hotels under went a major.
renovation. This renovation has paid off with higher occupancy rates and increased
Transient Occupancy revenues to the City. Property tax revenue increased slightly due
to a slight increase in the assessed valuation of properties.
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The Licenses, Permits and Fees category shows a significant increase. This is due
primarily to a $815,189 increase in building, planning and engineering fees. The reason
for this increase was due to the construction - - of four new office buildings and a n - ew
Th
housing tract consisting of 134 houses. ere was also an increase in Recreation
Program revenues. The Recreation Program continues to grow each year due to several
factors. These factors include increased marketing, better class offerings and flexibility,
additional athletic activities And the addition of new programs.
There was a general overall decrease in Intergovernmental Revenues of $2,642,238.
The major component of this decrease was a reduction of $2,322,929, which were
associated with the construction of Pantera Park. These funds were composed of
Proposition A -Safe Neighborhood Parks revenue and Prop A -Transit fund
intergovernmental exchange revenues. As such are one-time revenues. Another
component of the reduction in Intergovernmental Revenue Category was the one time
award of State Environmental Enhancement Program funds earned during FY97-98.
The City also received Federal and State Funds during FY97-98 to aid in some of the
City's road projects.
Fines and Forfeiture Revenue increased across the board. The major increase was in
Traffic Fines. The Traffic Fine increase of $320,600 was due to a change in the
allocation method used by the State, as well as the concentrated traffic patrol and
citations within the City. Parking Fines also increased as a result of increased
enforcement. The False Alarm revenues were also up this year due to increased
collection efforts.
The increase in the Charges for Services Category is primarily due to continued increase
in transit pass sales. The City offers a discounted transit pass program to its citizens.
Each year the popularity of the program continues to grow.
The Other Revenue category was significantly high last fiscal year due to the sale of
land owned by the City. The revenue from the sale of this -land amounted to $1,297,575.
The net change in the Other Revenue category is an increase of $30,927.
This fiscal year, another category was added to the revenue summary. This category,
Proceeds from Sale of Property, was created to account for activities related to the two
development and disposition agreements entered into by the Diamond Bar
Redevelopment Agency. These two agreements provided that the Redevelopment
Agency purchase and resale land to developers. These agreements have resulted in the
building of four new office buildings, which will house two major insurance companies.
It is also anticipated that there will be significant tax increment revenue generated for
the Redevelopment Agency as a result of these agreements.
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The following schedule presents a summary of general, special revenue, and capital
project fund expenditures for the fiscal year ended June 30, 1999 and the amount and
percentage of increases and decreases in relation to prior year's expenditures.
EXPENDITURES
AMOUNT
PERCENT
OF TOTAL
INCREASE
(DECREASE)
FROM 1997-98
PERCENT
INCREASE
(DECREASE)
General Government
2,498,905
10.99%o
(43,235)
(1.70%)
Public Safety
4,738,375
20.84%
643,974
15.73%
Highways and Streets
1,187,265
5.22%
(1,347,025)
(53.15%)
Public Works
1,652,524
7.27%
(68,319)
(3.97%)
Community Development
397,081
1.75%
(206,036)
(34.16%)
Parks, Recreation, & Culture
1,489,708
6.55%
(187,959)
(11.20%)
Capital Outlay
1,204,727
5.30%
(2,120,124)
(63.77%)
Cost of Property Sold
9,462,013
41.61%
9,462,013
Debt Service
106,440
0.47%
78,376
279.28%
TOTAL
22,737,038
100.00%
6,211,665
Expenditures for the 1997-98 fiscal year
were $16,525,373 as compared with
$22,737,038 for the 1998-99 fiscal year, an increase of $6,211,665, or 37.6 percent.
The decrease in the General Government category was as a result of various increases
and decreases between the various divisions within this category. There was a decrease
in the City Manager's division due to the elimination of a Deputy City Manager's
position and the allocation of costs to the Redevelopment Agency. The City was a parry
to lawsuits during the fiscal year causing an increase in the City Attorney expenditures.
This fiscal year there were no election costs which is reflected as a reduction in the City
Clerk's division expenditures.
The increase in Public Safety expenditures was as a result of two primary factors.
Sheriff's contract costs increased due to the City Council's 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.
Crime prevention was addressed via the addition of personnel via its law enforcement
contract with the County of Los Angeles Sheriff s Department. The other factor was an
increase of $293,036 in Building and Safety costs. This fiscal year saw the construction
of four new office buildings and a new housing tract consisting of 134 houses. This
increase is offset by a corresponding increase in related revenues.
During FY97-98, the City's street and public works expenditures were higher than FY
98-99 due to the timing of several construction projects. This fiscal year, even though
there were several projects budgeted, the timing was such that the contracts did not get
awarded until very late in the year. Therefore work did not get started until FY 99-00.
The Community Development category was significantly lower this fiscal year for
several reasons. Due to a change over in staffing and the elimination of a senior level
staff position there were salary savings of nearly $70,000. The City's Development
Code was completed during the prior fiscal year resulting in a reduction in professional
services during FY 98-99.
The decrease the Parks, Recreation, and Culture section was due to the sale of
Proposition A -Transit funds amounting to $385,000 last fiscal year. The proceeds from
the sale of these funds were used for various parks, recreation and cultural activities.
When this is taken into consideration, there was actually an increase of $178,964 in this
category's expenditures this fiscal year. This increase was due to additional programs
being offered through the City's recreation program and the operation of the City's new
park (Pantera) for a full year.
Capital Outlay category shows a significant reduction in expenditure from the previous
year. This is due to the previous year's construction and completion of Pantera Park
($2,072,679) and furnishing of new City Hall office facilities. Major capital outlay
items for FY98-99 included the replacement of the City's staff computer system, four
vehicles, and the commencement of two park ADA retrofitting projects.
This fiscal year, another category was added to the expenditure summary. This
category, Cost of Property Sold, is an offset to the Proceeds from Sale of Property
category in the revenue summary. It was set up to account for activities related to the
previously discussed two development and disposition. agreements entered into by the
Diamond Bar Redevelopment Agency.
Debt Service requirements were increased as a result of the City redevelopment agency's
increased indebtedness.
Fund Balances
The General Fund ended the 1998-99 fiscal year with a fund balance of $16,217,200.
This is an increase of $2,974,414 or approximately 22.5% increase from the balance at
June 30, 1998. Of this, $213,764 is reserved for encumbrances, debt service and special
programs. There is $4,556,753 reserved for Advances to the Diamond Bar
Redevelopment Agency. In addition, there is $110,719 designated for specific projects
and programs, including $104,413 for library service enhancement. This leaves an
undesignated fund balance of $11,335,964.
Cash Management
The City invests temporarily idle funds in accordance with the Government Code and
the investment policy approved by the City Council. During FY98-99, funds were
invested in the Local Agency Investment Fund (LA1F), which is administered by the I
State Treasurer's Office and a Money Market Mutual Fund account with Well's Fargo
-x-
Bank. The City invested in LAIF to the maximum balance of $20,000,000, 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
5.36%.
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, 1998. The total over -funded pension
obligation applicable to the City employees was $545,541 at June 30, 1998. The City's
contribution to the system based on actuarially determined requirements was $208,953
for FY97-98.
For the three years ended June 30, 1997, 1998 and 1999 the total contribution to PERS
was 13.27%, 13.65%, and 13.16% respectively, of the annual covered payroll. The total
contribution paid by the City included employer contributions as well as member
contribution for which the City is contractually obligated to pay on behalf of its
employees.
Debt Administration
As of June 30, 1999, the City of Diamond Bar had no outstanding general obligation
bonds. In fiscal year 1994-95, the City entered into a lease agreement for financing the
acquisition of a telephone system in the amount of $22,356 to be paid in sixty monthly
installments ending in March 2000. The balance to be paid is $4,209 including $158 in
interest.
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
$20,000 of each claim. Claims above $20,000 are shared by all the member agencies up
to a maximum of $50,000,000 per occurrence.
The City has also established a self-insurance internal service fund to cover the City's
share of any potential losses not covered by the CJPIA. The City Council established a
policy of annually transferring $100,000 to the fund to create a self-insurance reserve.
When the reserve reaches $1,000,000, the reserves will be deemed to be sufficient. The
self-insurance reserve at June 30, 1999 was $1,100,480.
Acknowledgegnents
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,
'4WV'f , 9. &I"r
Terrence L. Belanger
City Manager
OFFICIALS OF THE CITY OF DIAMOND BAR
June 30, 1999
Wen Chang, Mayor
Deborah H. O'Connor, Mayor Pro Tem
Eileen R. Ansari, Council member
Carol Herrera, Council member
Robert S. Huff, Council member
Terrence L. Belanger, City Manager
James DeStefano, Deputy City Manager
Michael Jenkins, City Attorney
Lynda Burgess, City Clerk
Bob Rose, Community Services Director
David G. Liu, Deputy Public Works Director
Linda G. Magnuson, Finance Director
Building &
Safety
Inspection*
Plan Check*
S Chart
�,,ity of
Bar Organization
City
Council
City Redevelopment I . City
Manager Agency Attorney
Deputy
City Manager
Community
Services
City
Engineering
Clerk
— Lndscp/Lighting
Inspection*
District Maint
Media Relations
Plan Check*
— Parks Maint
Recreation
— Senior Services
Public
Planning Works
J I
Advanced Capital Improvement Projects
Current Street Maintenance*
Code Enforcement Traffic Signal Maintenance*
Economic Dev'
Communications
City
& Marketing
Clerk
Economic Dev°
Mgmt Info Sys
Media Relations
Public Education
Public Information
Public Relations
�s�_.
�i11111.8IiL11la�
Personnel
* = Contract Services
• = Shared Responsibility
Finance
Risk Mgmt*
Public
Safety
Animal Control*
Emergency
Preparedness
Los Angeles
County Fire*
Los Angeles
County Sheriff*
0/9b
x
ZR,
City of viamond Bar
This certificate is issued in recognition of meeting professional standards and criteria in reporting
which reflect a high level of quality in the annual financial statements
and in the underlying accounting sYstemfrom which the reports were prepared.
' Manch 1, 1999
Ch , Professional Technical Standards Committee
Dedicated to Excellence in Municipal Financial Management
City of Diamond Bar,
California
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1998
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance- Officers
Association of the United States and Canada to
government units and public employee retirement.
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
Xvi
President
Executive Director
IMI -001M I FAV, 10,
CERTIFIED PUBLIC ACCOUNTANTS
1100 MAIN STREET, SUITE C
IRVINE, CALIFORNIA 92614
(949)474-2020
Fax (949) 263-5520
Honorable Mayor and City Council
City of Diamond Bar
Diamond Bar, California
Independent Auditors' Report
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, 1999, as listed in the table of contents.
These general purpose financial statements are the responsibility of the management of the City
of Diamond Bar, California. Our responsibility is to express an opinion on these general purpose
financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards and the
standards applicable to financial audits contained in Government Auditing Standards, issued by
the Comptroller General of the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audit provides a reasonable
basis for our 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,
1999, and the results of its operations and the cash flows of its proprietary fund type for the year
then ended in conformity with generally accepted accounting principles.
The information regarding the Year 2000 issue identified as required supplementary information
in the table of contents is not a required part of the basic financial statements, but is
supplementary information required by the Governmental Accounting Standards Board. We
have applied certain limited. procedures, which consisted principally of inquiries of management
regarding the methods of measurement and presentation regarding this supplementary
information. However, we did not audit the information and do not express an opinion on it. In
addition, we do not provide assurance that the City of Diamond Bar is or will become year 2000
complaint, that the City of Diamond Bar's year 2000 remediation efforts will be successful in
whole or in part, or that parties with which the City does business are or will become year 2000
complaint.
MEMBERS OF AICPA AND CALIFORNIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS
MEMBER OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS PRIVATE COMPANIES PRACTICE SECTION
Honorable Mayor and City Council
City of Diamond Bar
Page Two
Our audit was performed for the purpose of forming an opinion on the general purpose financial
statements taken as a whole. The combining and individual fund financial statements listed in
the table of contents are presented for purposes of additional analysis and are not a required part
of the general purpose financial statements of the City of Diamond Bar, California. Such
information has been subjected to the auditing procedures applied in the audit of the general
purpose financial statements, and in our opinion, is fairly stated in all material respects in relation
to the general purpose financial statements taken as a whole. The scope of our audit did not
include the supplemental statistical schedules listed in the table of contents and we do not
express an opinion on them.
In accordance with Government Auditing Standards, we have also issued our report dated
October 20, 1999 on our consideration of the City of Diamond Bar's internal control over
financial reporting and our tests of its compliance with certain provision of laws, regulations,
contracts and grants.
October 20, 1999
N
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CITY OF DIAMOND BAR
Combined Balance Sheet - All Fund Types and Account Groups
June 30, 1999
Governmental Fund TYT)es
Special capital
General Revenue Proiects
Assets and other debits
Assets:
Cash and investments (note 2)
$12,766,083
Accounts receivable
259,729
Interest receivable
304,685
Due from employees
Due from other funds (note 10)
9,490
76,635
Due from other governments
1.,126,947
Prepaid expenses
Advances fo other funds (note 6)
-
4,556,753
Fixed assets (note 3)
Other debits:
Amount to be provided for
retirement of general long-term
debt
Total assets
$19,100,322
Liabilities, equity and other credits
Liabilities:
Accounts payable
$ 1,220,177
Accrued payroll
117,106
Retentions payable
300
Deferred revenue
144,824
Due to other funds (note 10)
852,273
Deposits
548,442
Due to other governments
-absences
-
4)
Compensated absences -
Compensated parable (note
Obligations under capital (ease
(notes 4 and 5)
-
Advances from other funds
(notes4 and 6)
Deferred compensation payable
(note 12)
Total liabilities
2,883,122
Equity and other credits:
qInvestment fixed
in general assets
-
Retained earnings:
Unreserved
Fund balances (note 8):
Reserved7517
'
Unreserved - designated
110,7197
Unreserved - undesignated
11,335,964
Total equity and other credits
16,217,200
Total liabilities, equity
and other credits
$19,100,322
110,901,601
25,253
682,618
11,609,472
133,896
5,564
325,041
16,308
480,809
203,097
101925,566
11,12&663
11,609,472
1,463,434
4,398
1,100,679
2,568,511
192,379
16,826
105,928
1,683,041
135,166
Proprietary
Fund Ty-oe
Internal
Service
1,126,289
1,126,289
25,769
2.133.340 25.769
- 1,100,520
296,040 -
139,131
435,171 1,100,520
2,568,511 1,126,289
See accompanying notes to the financial statements.
3
Fiduciary Account Groups
Fund TvDe General Ueneral
Totals
(Memorandum Only)
Agency Fixed Assets
Long -Term Debt
-
26,257,407
24,529,350
_ _
-
284,982
218,437
_ _
-
309,083
296,678
_ -
-
9,490
-
_ _
-
1,177,314
1,327,970
-
1,809,565
2,224,774
107,096
_
4,556,753
741, 026
- 7,008,196
-
7,008,196
6,768,037
_ -
4,703,85
4,703,853
875,940
- 7,008,196
4,703,853
46,116,643
37,089,808
-
1,572,221
2,120,904
-
122,670
119,080
-
17,126
68,079
-
250,752
38,384
1,177,314
1,327,970
2,231,483
493,814
151,474
16,308
_ -
143,049
143,049
125,390
_ -
4,051
4,051
9,024
_ -
4,556,753
4,556,753
741,526
_
-
743,199
_ -
4,703,853
10,226,893
5,803,678
- 7,008,196
-
7,008,196
6,768,037
_ _
-
1,100,520
1,175,851
_
-
5,269,654
1,540,118
_
-
11,175,416
9,525,004
_ _
-
11,335,964
12,277,120
- 7,008,196
-
35,889,750
31,286,130
- 7,008,196
4,703,853
46,116,643
37,089,808
2
(This page intentionally left blank)
Combined Statement of Revenues, Expenditures and Changes in Fund Balances -
All Governmental Fund Types
Year ended June 30, 1999
Special Capital
General Revenue Pro ects
Revenues:
Taxes
$ 5,878,376
Special assessments
Licenses, permits and fees
145 623
2, ,
Intergovernmental
3,346,107
Fines and forfeits
573,449
Charges for services
-
Proceeds from sale of property
Investment income
Other revenues
596,019
61,309
Totals
(Memorandum Onl1999 y)
5,511,755
561,772
1,247,155
9,178,049
219,075
432,020
1,166,554
1,329,957
Total revenues 12,600,883 4,786,499 6,132,686 23,520,068 19,646,337
Expenditures:
Current:
Generalovernment
Public safety.
Highway and streets
Pu61ic works
Community development
Parks, recreation and
culture
Capital outlay
Cost of property sold
Debt service:
Interest
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Other financing sources (uses)
Operating transfers in
Operating transfers out
Proceeds of advances
Total .other financing
sources (uses)
Excess of revenues and
other financing sources
over expenditures and
other financing uses
Fund balances at beginning
of year
Fund balances at end of year
2,498,905
4,715,346
5,878,376
553,443 -
553,443
1,572
2,147,195
3,189,705 -
6,535,812
1,224,045
573,449
481,248 -
481,248
6,095,931
6,095,931
560,103 35,183
1,191,305
2,000 -
63,309
5,511,755
561,772
1,247,155
9,178,049
219,075
432,020
1,166,554
1,329,957
Total revenues 12,600,883 4,786,499 6,132,686 23,520,068 19,646,337
Expenditures:
Current:
Generalovernment
Public safety.
Highway and streets
Pu61ic works
Community development
Parks, recreation and
culture
Capital outlay
Cost of property sold
Debt service:
Interest
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Other financing sources (uses)
Operating transfers in
Operating transfers out
Proceeds of advances
Total .other financing
sources (uses)
Excess of revenues and
other financing sources
over expenditures and
other financing uses
Fund balances at beginning
of year
Fund balances at end of year
2,498,905
4,715,346
-
23,029
-
-
2,498,905
4,738,375
3,120,964
752,555
434,710
1,187,265
1,224,045
425,746
2,733
1,652,524
-
136,980
260,101
397,081
1,464,357
361,018
25,351
36,808
-
806,901
1,489,708
1,204,727
-
-
9,462,013
9,462,013
2,542,140
4,094,401
2,534,290
1,720,843
603,117
1,677,667
3,324,851
- 106,440 106,440 28,064
10,263,671 1,400,469 11,072,898 22,737,038 16,525,373
2,337,212
3,386,030
(4,940,212)
783,030
3,120,964
927,620
-
1,148,611
2,076,231
5,910,6802)
(290,358)
(1,945,338)
(3,815,227)
(5362,107
3,815,227
637,262
X1,945,338)
4,963,838
3,655,762
88,861
2,974,474
1,440,692
23,626
4,438,792
3,209,825
13,242,726 9,687,971 411,545 23,342,242 20,132,417
$16,217,200 11,128,663 435,171 27,781,034 23,342,242
See accompanying notes to the financial statements.
E
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances - Budgef and Actual
Revenues:
Taxes
Special assessments
Licenses, permits and fees
Intergovernmental
Fines and forfeits
Charges for services
Proceeds from sale of property
Investment income
Other revenues
Total revenues
Expenditures:
Current:
Generalovernment
Public safety
Higghways and streets
Public works
Community development
Parks, recreation and culture
Capital outlay
Cost of property sold
Debt service:
Interest
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Proceeds of advances
All Governmental Fund Types
Year ended June 30, 1999
General
10,399,370
12,600,883
v anance
Favorable
Budget
Actual
(Unfavorable)
$ 5,331,000
5,878,376
547,376
2,095,950
2,145,623
49,673
1,956,200
3,346,107
1,389,907
306,500
573,449
266,949
656,000
596,019
(59,981)
53.720
61.309
7.589
10,399,370
12,600,883
2,201,513
2,874,918
2,498,905
376,013
4,845,275
4,715,346
129,929
1,562,712
1,224,045
338,667
1,641,464
1,464,357
177,107
439,593
361,018
78,575
11,363,962
10,263,671
1,100,291
(964,592)
2,337,212
3,301,804
943,758 927,620 (16,138)
(387,668) (290,358) 97,310
Total other financing sources (uses) 556,090 637,262 81,172
Excess (deficiency) of revenues
and other financing sources over
(under) expenditures and other
financing uses (408,502)
2,974,474 . 3,382,976
Fund balances at beginning of year 13,242,726 13,242,726
Fund balances at end of year $12,834,224 16,217,200
See accompanying notes to the financial statements.
6
3,382,976
EXHIBIT CC
Capital Proiects
Special Revenue
-V-ariance
Budget
Actual
Favorable
Budget
Actual
(Unfavorable)
548,652
553,443
4,791
3,183,921
3,189,705
5,784
365,000
481,248
116,248
508,000
560,103000
52,000,103
9,462,013
9,462,013
2
4.605,573
4,786499
_180.,926
EXHIBIT CC
Capital Proiects
48,000
770,300
23,029
752,555
y ariance
Favorable
Budget
Actual
(Unfavorable)
237,500
1,572
(235,928)
6,095,931
6,095931
-
-
35:183
35,183
6,333,431
6,132.686(200,74
-
2,903)567
48,000
770,300
23,029
752,555
24,971
17,745
-
4,002,852
-
434,710
-
3,568,142
543,050
189,531
425,746
136,980
117,304
52,551
28,590
314,000
2,733
260,101
25,857
53,899
62,000
104,000
25,351
36,808
36,649
67,192
3, 710,468
806,901
-
2,903)567
-
-
-
9,462,013
9,462,013
-
-
-
-
-
106,4401(
06,440)
1,716,881
1,400,469
316,412
17,517,923
11,072.898
6,445,025
2,888,692
3.386.030
497,338
(11,184,492)
(4,940,212)
6,244,280
-6X6,500
1,148,611
(4,877,889)
(5,756,248)
(1,945,338)
3,810,910
-
2,894,795
3,815,227
-
920,432
(5,756248)
(1,945,338)
3,810,910
8,921,295
4,96 .838
(3,957,457)
(2,867,556)
1,4�40692
4,308,248
(2,263,197)
23,626
2,286,823
9,687,971
9,687,971
-
411,545
411,545
- -
6,820,415
11,128.,.663
4,308,248
(1.851.652)
435,171
2,286.823
7
10"UH103VEit
CITY OF DIAMOND BAR
Combined Statement of Revenues, Expenses, and Changes in Retained Earnings -
Proprietary Fund Type
Year ended June 30, 1999
Operating expenses:
Insurance premiums
Total operating expenses
Operating income (loss)
Non-operating revenues:
Investment income
Total non-operating revenues
Income (loss) before operating transfers
Operating transfer in
Total operating transfers
Net income (loss)
Retained earnings at beginning of year
Retained earnings at end of year
Internal Service
1999 1998
$ 284,400 28,143
284,400 28.143
(284,400) --128.,143)
49,604
42,099
49,604
42,099
(234,796
3.956
159,465
273.246
159.465
273,246
(75,331)
287,202
1.175,851
888,649
$1,100,520
1,175,851
See accompanying notes to the financial statements.
0,14:110-11891
Combined Statement of Cash Flows - Proprietary Fund Type
Year ended June 30, 1999
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 1999, there were no noncash investing, capital or financing
activities.
See accompanying
onipanying notes to the financial statements.
9
Internal Service
1999
1998
Cash flows from operating activities:
Insurance payments
$ (153.276)
135.052)
Net cash provided by (used for) operating activities
(153.276
(135.052)
Cash flows from noncapital financing activities:
Cash transferred from other funds
159.465
273.246
3.246
Net cash provided by noncapital financing activities
159,465
273.246
Cash flows from investing activities:
Interest received from investment
49.604
- 42.099
Net cash provided by investing activities
49.604
42,099
Net increase in cash and cash equivalents
55,793
180,293
Cash and cash equivalents at beginning of year
1.070,496
890.203
Cash and cash equivalents at end of year
L1.126.289
1,070.496
Reconciliation of net operating income to net
cash provided by (used for) operating activities:
Operating income (loss)
$ (284,400)
(28,143)
Adjustments to reconcile operating income to net
cash provided by (used for) operating activities:
(Increase) decrease in prepaid insurance
107,096
(1071096)
(Decrease) increase in accounts payable
24.028
187
Net cash provided by (used for) operating activities
$ (153.276
-J135.052)
Noncash investing, capital and financing activities:
During the fiscal year ended June 30, 1999, there were no noncash investing, capital or financing
activities.
See accompanying
onipanying notes to the financial statements.
9
(This page intentionally left blank)
Notes to the Financial Statements
Year ended June 30, 1999
Summary of Significant Accounting Policies
(a) Description of the Reporting Enti
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.
10
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting, Policies, (Continued)
(b) Fund Accountin
The basic accounting and reporting entity is a "fund." A fund is defined as an
independent fiscal and accounting entity with a self -balancing set of accounts,
recording resources, related liabilities, obligations, reserves and equities
segregated for the purpose of carrying out specific activities or attaining certain
objectives in accordance with special regulations, restrictions or limitations.
The accounting records of the City are organized on the basis of funds and
account groups classified for reporting purposes as follows:
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 ftind. Expenditures of this fund
include the general operating expenses and capital improvement costs which are
not paid through other funds.
Special Revenue Funds
The Special Revenue Funds are used to account for proceeds of specific revenue
sources that are restricted by law or administrative action for specific purposes.
Capital Proiect 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.
I
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, 1,989, 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:
11
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.
FIDUCIARY FUNDS
Agency Funds
Ag I ency Funds are custodial in nature and account for assets that the City holds for
others in an agency capacity.
ACCOUNT GROUPS
General Fixed Assets Account Group
The General Fixed Assets Account Group is used to account for the costs of fixed
assets acquired to perform general government functions.
Assets purchased are recorded as expenditures in the governmental funds and
capitalized at cost in the general fixed assets account group. Contributed fixed
assets are recorded in the general fixed assets account group at their estimated fair
market value when received. Fixed assets acquired under a capital lease are
recorded at the net present value of the future minimum lease payments.
Fixed assets consisting of certain improvements other than buildings, including
roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and
lighting systems, have not been'capitalized. Such assets normally are immovable
and of value only to the City. Therefore, the purpose of stewardship for capital
expenditures is satisfied without recording these assets.
No depreciation has been provided on general fixed assets.
General Lona -Term Debt Account Group
The General Long -Term Debt Account Group is used to account for all long-term
debt of the City, except that accounted for in the proprietary funds.
(c) Measurement Focus and Basis of Accounting
Governmental (general, special revenue, and capital projects) fund types are
accounted for on a "spending" measurement focus. Accordingly, only current
assets and current liabilities are included on their balance sheets. The reported
fund balance provides an indication of available, spendable resources. Operating
statements for governmental fund types report increases (revenues) and decreases
(expenditures) in available spendable resources.
12
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(11 Summary of Significant Accounting Policies, (Continued)
(c) Measurement Focus and Basis of Accounting, (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 fund equity
provides an indication of the economic net worth of the fund. Operating
statements for , proprietary fund types report increases (revenues) and decreases
(expenses) in total economic net worth.
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 $2,521,570.
13
Notes to the Financial Statements
(Continued)
(1) Summary of Significant Accounting Policies, (Continued)
(e) Interfund Transfers
Nonrecurring transfers of equity between funds are reported as an adjustment to
beginning fund balance. Operating transfers are reported as other sources and
uses of funds in the statement of revenues, expenditures, and changes in fund
balances for governmental fund types.
(f) Encumbrances
Encumbrance accounting, under which purchase orders, contracts and other
commitments for the expenditure of monies are recorded in order to reserve that
portion of the applicable appropriation, is employed as an extension of formal
budgetary control in the governmental funds. Encumbrances outstanding at year-
end do not constitute expenditures or liabilities, but are reported as reservations of
fund balance.
(g) Cash and Investments
Investments are reported in the accompanying balance sheet at fair value.
Changes in fair value that occur during a fiscal year are recognized as investment
income reported for that fiscal year. Investment income includes interest earnings,
changes in fair value, and any gains or losses realized upon the liquidation or sale
of investments.
The City pools cash and investments of all funds. Each fund's share in this pool
is displayed in the accompanying financial statements as cash and investments.
Investment income earned by the pooled investments is allocated to the various
funds based on each fund's average cash and investment balance, -except for
$596,019 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 Rind, as provided by California Government Code Section
53647.
(h) Cash Equivalents
For purposes of the statement of cash flows, cash equivalents are defined as short-
term, highly liquid investments that are both readily convertible to known
amounts of cash or so near their maturity that they present insignificant risk of
changes in value because of changes in interest rates, and have an original
maturity date of 3 months or less. Cash equivalents also represent the proprietary
funds' share in the cash and investment pool of the City of Diamond Bar.'
14
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 unremitied to the City as of June 30, 1999.
The County of Los Angeles assesses, bills, and collects property taxes for the
City.
0) Employee Leave Benefits
Vacation and sick leave time begin to accumulate as of the first day of
employment to a.maximum of 160 hours. Employees who accumulate sick leave
in excess of 160 hours are paid for the excess annually at one half the employee's
current wage rate. In governmental fund types, the cost of vacation and sick leave
benefits is recognized when payments are made to employees. A long-term
liability of $143,049 of accrued benefits has been recorded by using the vesting
method in the long-term debt account group representing the City's commitment
to fund such costs from future operations.
(k) Claims and Judgments
The City records a liability for material litigation, judgments, and claims
(including incurred but not reported losses) when it is probable that an asset has
been impaired or a material liability has been incurred prior to year end and the
probable amount of loss (net of any insurance coverage) can be reasonably
estimated.
(1) Capital Projects
Capital projects expenditures include public domain or infrastructure projects
which are not capitalized as additions to general fixed assets.
(m) Postemployment Benefits
The City does not provide postemployment benefits (other than pension benefits)
for its employees.
15
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
Summary of Significant Accounting Policies, (Continued
(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.
The property tax calendar is as follows:
Lien Date:
March 1
Levy Date:
July 1
D . ue Date:
First Installment - November 1
May 15
Second Installment - February I
Delinquent Date:
First Installment. - December 11
Second Installment - April 11
Taxes are collected by Los Angeles County and are remitted to the City
periodically. Dates and percentages are as follows:
December 10
30% Advance
January 16
Collection No. 1
April 10
10% Advance
May 15
Collection No.. 2
July 31
Collection No. 3
(o) Fixed Assets
Fixed assets are not capitalized in the funds used to acquire or construct them.
Instead, capital acquisition and construction are reflected as expenditures in
governmental funds, and the related assets are reported in the general fixed assets
account group. All purchased fixed assets are valued at cost where historical
records are available � and at an estimated historical cost where no historical
records exist. Donated fixed assets are valued at their estimated fair market value
on the date received.
The costs of normal maintenance and repairs that do not add to the value of the
asset or materially extend asset lives are not capitalized. Improvements are
capitalized and depreciated over the remaining useful lives of the related fixed
assets, as applicable.
16
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
Summary of Significant Accounting Policies, (Continued)
(o) Fixed Assets, (Continued)
Public domain ("infrastructure") general fixed assets consisting of roads, ' bridges,
curbs and gutters, streets and sidewalks, drainage systems and lighting systems
are not capitalized, as these assets are immovable and of value only to the
government.
Assets in the general fixed assets account group are not depreciated.
(p) 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.
(q) 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. Interflind 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, 1999 consisted of the following:
Imprest cash on hand $ 300
Deposits 1,041,076
State Treasurer's investment pool 24,163,531
Money market mutual fund 1,052,500
Total $26,257,407
17
Notes to the Financial Statements
(Continued)
() Cash and Investments, (Continued)
The City is generally authorized under Section 53601 of the California Government Code
and the City's investment policy to invest in the following types of investments:
Medium term corporate notes
Demand deposits with financial institutions
Passbook savings accounts
Certificates of deposit
U.S. Treasury bills and notes
Bankers' acceptances
" Commercial paper
State Treasurer's Investment Pool
Repurchase Agreements
Negotiable certificates of deposit
Money market funds
Federal Agency Securities
Under the California Government Code, a financial institution is required to secure
deposits made by state or local governmental units by pledging securities held in the form
of an undivided collateral pool. The market value of the pledged securities in the
collateral pool must equal at least 110% of the total amount deposited by the public
agencies. California law also allows financial institutions to secure City deposits by
pledging first trust deed mortgage notes having a value of 150% of the secured public
deposits.
Deposits of cities and other state or local governments are classified in three categories to
give an indication of the level of credit.risk assumed by the City.
Category 1 - includes deposits that are insured or collateralized with securities held by
the City or its agent in the City's name.
Category 2 - includes deposits collateralized with securities held by the pledging
financial institution's trust department or agent in the City's name. Category 2 also
includes deposits collateralized by an interest in an undivided collateral pool held by an
authorized Agent or Depository and subject to certain regulatory requirements under
State law.
Category 3 - includes deposits collateralized with securities held by the pledging
financial institution, or by its trust department or agent but not in the City's name.
Category 3 also includes any uncollateralized deposits.
18
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(2) Cash and Investments, (Continued)
Deposits held by the City as of June 30, 1999 are classified in risk categories as follows
Category Bank Carrying
Form of Deposit 1 2 3 Balance Amount
Demand deposits $100,000 437 - 100,437 28,306
Certificate of deposit 100,000 912,770 - 1,012,770 1,012,770
Total deposits 12QIOOO 913,207 - 1,113,207 1,041,076
Investments held by the City as of June 30, 1999 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 $24,163,531
Money market mutual fund 1,052,500
Total investments 25,216,031
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.
19
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(3) Fixed Assets
A summary of changes in general fixed assets follows:
Balance at
Balance at
July 1, 1998
Additions
Deletions
June 30. 1999
Land
$1,569,898
1,569,898
Buildings
1,159,345
1,159,345
Improvements other than
buildings
2,915,351
2,915,351
Vehicles and equipment
961,737
302,183
99,046
1,164,874
Furniture and fixtures
161,706
43,112
6,090
198,728
Total
$6,768,037
_--,
345.O —_,.2 95
105..,136
7 J_008.196
(4) General Long -Term Debt
Changes in general long-term debt for the year ended June 30, 1999 were as follows:
Balance at Balance at
July 1, 1998 Additions Retirements June 30, 1999
City:
Compensated absences payable $125,390 17,659 - 143,049
Obligations under capital lease 9,024 - 4,973 4,051
Redevelopment Agency:
Advances from other funds 741,526 3,815,227 - 4.556.753
Total $875,940 3,832.,886 4,973 4,703,853
5) Obligations Under Capital dLeasg
Telephone System
The *City has entered into a lease agreement as lessee for financing the acquisition of a
telephone system in the amount of $22,356 to be paid in sixty monthly installments
ending in March 2000. The balance to be paid is $4,209 including $158 in interest.
This lease agreement qualifies as a capital lease for accounting purposes and, therefore,
has been recorded at the present value of the future minimum lease payments as of the
inception date in the general fixed assets, account group. Payments of principal and
interest are made from the General Fund.
20
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(5) Obligations Under Capital Lease, (Continued)
The future minimum lease obligations and the net present
value of the minimum lease
payments as of June 30, 1999 were as follows:
Year Ending
June 30
2000
$4,209
Total minimum lease payments
4,209
Less amount representing interest
(158)
.Present value of minimum lease payments
$4,051
(6) Advances From/to Other Funds I.
During the fiscal year ended June 30, 1999, the General Fund has advanced a total of
$3,815,227 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, 1998 Proceeds Repayments June 30, 1999
Agency expenditures
incurred by the City $741,526 3,815,227 4.556.753
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.
(7) Obligations Under Operating Leases
The City leases building and office facilities under noncancelable operating leases. The
total costs for such leases were $208,336 for the year ended June 30, 1999. The future
minimum lease payments for the lease of building and office facilities are as follows:
Year ending June 30
2000 $233,588
2001 233,588
2002 246,215
Total $713,391 1.
21
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(8) 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, 1999 consisted of the following reserves and designations:
Special Capital Total
General Fund Revenue Proiects (Memorandum Only)
Reserved for:
Debt service $ 4,051 - - 4,051
Encumbrances 209,713 203,097 296,040 708,850
Advances to the Diamond Bar
Redevelopment Agency 4,556,753 - 4,556,753
4,770,517 203,097 296.040 5,269,654
Unreserved:
Designated for:
Specific projects and programs 110,719 10,925,566 139,1311 11,175,416
Undesignated 11,335,964 - - - — 11,335.964
11.446.683 10,025,566 139.131 22,511.380
Total fund balances $16,217,200 11,128,663 435,171 27,78_1.,034
9) 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.
22
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued) '
(9) 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, 1999, the amount contributed by the City on behalf of the
employees was $116,714. 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, 1999 was 6.158% 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, 1999, the City's annual pension cost (employer contribution)
of $92,239 for miscellaneous employees was equal to the City's required and actual
contributions. The required contribution was determined as part of the June 30, 1996,
actuarial valuation using the entry age normal actuarial cost method. The actuarial
assumptions included (a) 8.25% investment rate of return (net of administrative
expenses), (b) projected annual salary increases that vary by duration of service, and (c)
2% per year cost -of -living adjustments. Both (a) and (b) included an inflation component
of 3.5%. The actuarial value of PERS assets was determined using techniques that
smooth the effects of short-term volatility in the market value of investments over a four-
year period (smoothed market value). PERS' unfunded actuarial accrued liability is
being amortized as a level percentage of projected payroll on a closed basis. PERS has
combined the prior service unfunded liability and the current service unfunded liability
into a single initial unfunded liability. The single funding horizon for' this initial
unfunded liability is June 30, 2019.
Miscellaneous Employees
Three -Year Trend Information
Annual Pension Cost
Fiscal Year Tmployer Contribution)
6/30/97
6/30/98
6/30/99
$95,274
95,149
92,239
23
Percentage of
APC Contributed
100%
100%
100%
Net Pension
Obligation
I
CITY OF DIAMOND BAR
Notes to the Financial Statements
(Continued)
(9) City Employees Retirement Plan, (Continued)
Required Supplementary Information
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
6/30/95 $897,229 $944,519
$(47,290)
105.3% $1,370,916
(3.450%)
6/30/96 1,149,112 1,260,660
(111,548)
109.7% 1,306,702
(8.537%)
6/30/97 1,334,707 1,656,895
(322,188)
124.1% 1,411,740
(22.822%)
(1 0) Due From and To Other Funds
Current interfund receivables and payables
balances at June 30, 1099 are as follows:
Due
Due
from
to
Other Funds Other Funds
General fund
$ 76,635
852,273
Special revenue funds:
State gas tax
-
25,727
Proposition A transit
-
422
Proposition C transit
-
5,163
Park fees
-
519
Community development block grant
-
293,210
Capital projects funds-.
Capital improvement
270,433
-
Redevelopment agency
830,246
-
Total
$1,177,314
1,177,314
24
Notes to the Financial Statements
(Continued)
(11) 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 a representative
on the Board of Directors. The Board operates through a 9 -member Executive
Committee.
(.a)
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 members 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.
(c) 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.
(12) Deferred Compensation Plan
All assets of the Plan, including participant contributions and earnings therefrom, were
legal assets of the City until July 1, 1998. As of July 1998, all assets of the Plan have
been transferred to a trust for the exclusive benefit of plan participants and their
beneficiaries. Accordingly, these assets have been excluded from the financial statements
of the City. This change has no impact on the City's fund equity.
25
Notes to the Financial Statements
(Continued)
(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.
(14) Proposition 218
Proposition 218, which was approved by the voters in November 1996, provides certain
limitations over the ability of local governments within the State of California to impose,
increase and extend taxes, assessments and fees. Any new, increased, or extended taxes,
assessments, and fees subject to the provisions of Proposition 218, require voter approval
before they can be implemented. Additionally, Proposition 218 provides that these taxes,
assessments, and fees are subject to the voter initiative process and may, in some
circumstances, be rescinded in the future by the voters. As a result, the government's
ability to finance the services for which the taxes, assessments and fees were imposed
could be significantly impaired. Significant taxes, fees, and assessments that may be
subject to the provisions of Proposition 218 which the government currently. imposes for
its own benefit or as an agent for a special district, or receives from other governmental
agencies, potentially include lighting and landscape district assessments. The City's
management believes that language in the initiative is unclear as to the scope and impact
of the proposition. Future court rulings or state legislation may clarify these issues. At
this time management is uncertain as to the effect that Proposition 218 will have on the
government's ability to maintain or increase the revenue it receives from taxes,
assessments and fees, or its effect on interfund payments in lieu of taxes. Also unclear is
the extent to which Proposition 218 is impacted by a 1995 California Supreme Court
ruling (the Guardino case) that upheld the voter* approval requirements of a previously
enacted state initiative (Proposition 62), particularly with regard to taxes imposed or
increased between November 5, 1986 and'December 11, 1995.
26
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Required Supplementary Information
June 30, 1999
Risk Mitigation for the Year 2000 Issue
The City of Diamond Bar is in the process of evaluating its computer systems and other
equipment containing embedded chips to ascertain which of these might be impacted by a failure
to properly recognize and process transactions dated on or after January 1, 2000. As of June 30,
1999, there were no unexpended contracts with external parties to assist in remediation .efforts.
Because of the unprecedented nature of the year 2000 issue, it is not possible to provide
assurances that the City has or will achieve complete year 2000 compliance, even after
completing all planned year 2000 corrective actions and related testing. Nor can the City
determine the effect, if any, on City operations should entities external to the City (other
governments, significant vendors, suppliers, service providers, customers, taxpayers, businesses,
etc.) fail to achieve year 2000 compliance in a timely -manner. An audit is not designed to
substantiate the assertions of management with respect to this issue or to evaluate the adequacy
of management's plans with respect to this issue. Generally, the City is in the remediation stage
of its year 2000 corrective action plan.
27
(This page intentionally left blank)
wffiff���
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.
28
CITY OF DIAMOND BAR
General Fund
Comparative Balance Sheets
June 30, 1999
Assets
Cash and investments
Accounts receivable
Interest receivable
Due from employees
Due from other funds
Due from other governments
Advances to other funds
Total assets
Liabilities and fund equity
Liabilities:
Accounts payable
Accrued payroll
Retentions payable
Deferred revenue
Due to other funds
Deposits
Total liabilities
Fund equity:
Reserved for:
Debt service
Encumbrances
Advances to the Diamond Bar
Redevelopment Agency
Unreserved:
Designated for:
Specific projects and programs
Undesignated
Total fund equity
Total liabilities and fund equity
29
P=
$12,766,083
259,729
304,685
9,490
76,635
1,126,947
4.556.753
$19.100,322
$ 1,220,177
117,106
300
144,824
852,27-3
548.442
. 2,883,122
4,051
209,713
4,556,753
110,719
11,335,964
16,217,200
$19,100,322
EXHIBIT A-1
1998
12,727,816
194,671
296,678
443,209
1,007,207
741.527
15,411,108
1,266,109
115,455
38,384
254,620
493.814
2,168,382
9,024
99,817
741,526
115,239
12,277,120
13,242,726
15411,108
EXHIBIT A-2
CITY OF DIAMOND BAR
General Fund
Schedule of Revenues - Budget and Actual
Year ended June 30, 1999
30
Variance -
Favorable
1998
Budget
Actual
(Unfavorable)
Actual
Taxes:
Real estate transfer tax
$120,000
215,153
95,153
176,520
Sales and use tax
2,200,000
2,666,743
466,743
2,417,361
Franchise fees
650,000
667,268
17,268
725,397
Transient occupancy tax
300,000
338,725
38,725
228,720
Property tax allocation
2,061,000
1,990,487
(70,513)
1,963,757
Total taxes
5,331,00.0
5,878,376
547,376
5,511,755
Licenses, permits and fees
E
2,095,950
2,145,623
49,673
1,247,155
Intergovernmental:
Motor vehicle in lieu tax
1,850,000
3,309,862
1,459,862
2,820,469
Homeowners exemption
30,000
34,171
4,171
35,229
Off highway tax
1,700
2,074
374
881
Grants
74,500
-
(74,500)
484,515
Total intergovernmental
1,956,200
3,346,107
1,389,907
3,341,094
Fines and forfeits
306,500
573,449
266,949
219,075
Investment income
656,000
596,019
(59,981)
633,803
Other revenues:
j Rental income
25,000
27,796
2,796
21,469
Donations
2,520
4,149
1,629
2,156
Miscellaneous
26,200
29,364
3,164
8,757
Total other revenues
53,720
61,309
7,589
32,382
Total revenues
$10,399,370
12,600,883
2,201,513
10,985,264'
30
CITY OF DIAMOND BAR
General Fund
Schedule of Expenditure - Budget and Actual
Year ended June 30, 1999
General government:
City Council
City Manager
City Clerk
Finance
City Attorney
Planning
Economic development
General government
Communication and marketing
Community Service Center
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
Total expenditures
EXHIBIT A-3
2,874,918 2,498,905 376,013
3,987,800
.7,360
748,700
65,000
36.415
4,845,275
1,562,712
1,641,464
439,593
$11,363,962
31
3,872,174
7,359
747,374
61,927
26.512
4,715,346
1,224,045
1,464,357
361,018
10,261671
115,626
1
1,326
3,073
9.903
129,929
338,667
177,107
78,575
1,100,291
1998
Actual
137,263
490,814
236,728
253,993
184,495
499,766
78,797
490,296
144,280
25.708
2.542,140
3,667,380
7,359
336,800
59,510
17.812
4,088,861
1,265,894
1,256,426
247,987
9,401,3 08
Variance -
Favorable
Budget
Actual
(Unfavorable)
$ 162,470
155,767
6,703
354,580
419,538
(64,958)
221,415
202,118
19,297
258,715
224,212
34,503
393,572
262,938
130,634
484,433
378,279
106,154
609,003
516,787
92,216
390,730
339,266
51,464
2,874,918 2,498,905 376,013
3,987,800
.7,360
748,700
65,000
36.415
4,845,275
1,562,712
1,641,464
439,593
$11,363,962
31
3,872,174
7,359
747,374
61,927
26.512
4,715,346
1,224,045
1,464,357
361,018
10,261671
115,626
1
1,326
3,073
9.903
129,929
338,667
177,107
78,575
1,100,291
1998
Actual
137,263
490,814
236,728
253,993
184,495
499,766
78,797
490,296
144,280
25.708
2.542,140
3,667,380
7,359
336,800
59,510
17.812
4,088,861
1,265,894
1,256,426
247,987
9,401,3 08
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 twelve 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
i/2 cent sales tax levied in Los Angeles County for local transit purposes.
Pro -position 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.
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.
Park Fees Fund - To account for revenues received and expenditures made for park development
and improvement. The primary source of revenue is park development fees collected from
developers under the State of California's Quimby Act.
Park and Facility Development Fund - To account for the development and enhancement of the
City's parks.
Community Development Block Grant Fund - To account for the City's allotment- of CDBG
funds from the federal government via the County of Los Angeles Community Development
Commission. These funds are used to fund community development programs and projects
benefiting low and moderate income citizens.
Citizens Option for Public Safety Fund (COPS) - To account for COPS grants received from
both the state and federal government. The purpose of these funds are to *enhance the City's
public safety budget and to fund special public safety related projects.
Asset Seizure Fund - To account for Narcotics Asset Forfeiture funds received from the federal
government. It is required that these funds be used to enhance drug and law enforcement
activities.
Landscape Maintenance Districts Funds - 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.
32
CITY OF DIAMOND BAR
Special Revenue Funds
Combining Balance Sheet
June 30, 1999
Integrated Bicycle
State Prop. A Prop. C Waste Air Quality and
Gas Tax Transit Transit Management Improvement Pedestrian
Assets
Cash and investments $3,323,972 1,978,323 1,997,274 190,196 185,507 30,822
Accounts receivable - - - 25,253 -
Due from other
governments 115,395 56,661 47,892 16,096
Total assets $3,439,367 2,034,984 2.045,166 215.449 201,603 30,822
Liabilities and fund balances
Liabilities:
Accounts payable
$ -
81,138
-
5,185
908
-
Accrued payroll
-
1,556
-
1,151
-
-
Retentions payable
-
-
-
-
-
_ -
Due to other funds
25,727
422
5,163
-
-
-
Due to other '
governments
-
16.308
Total liabilities
25.727
83,116
5.163
6,336
908
16.308
Fund balances:
Reserved for:
-Encumbrances
-
-
-
-
559
-
Unreserved:
Designated for:
Specific projects
and programs
3,413.640
1.951.868
2,040.003
209,113
200,136
14,514
Total fund balances
3,413.640
1,951,868
2,040.003
209.113
200.695
14.514
Total liabilities and
fund balances
$3,439.367
2.034,984
2,045.166
215,449
201.603
30,822
33
e
_
Park and
Community
2,871 -
33,986
Landscape
178,953
_
Park
Facility
Development
986
Asset
Maintenance
Totals
Fees
Development
Block Grant
COPS
Seizure
District
1999
1998
171,674
1,431,012
-
144,651
326,213
1,121,957
10,901,601
9,786,255
_
-
_
_
-
-
25,253
.23,766
480.809
1.339.616
304.889
128,446
-
13.239
682,618
1,217.566
171,674
1,431,012
304.889
273.097
326.213
1,135.196
11.609.472
11.027.587
_
-
9,808
2,871 -
33,986
133,896
178,953
_
-
1,871
- -
986
5,564
2,926
_
_ _
-
68,079
519
-
293,210
- -
-
325,041
1,073,350
16.308
16.308
519
i
304.889
2.871
34.972
480.809
1.339.616
I
-
196,000
-
- -
6,538
203,097
689,751
171.155
1.235.012
270.226 326.213
1.093.686
10.925.566
8.998.220
171.155
1.431.012
-
270.226 326.213
1.100.224
11.128.663
9.687.971
171.674
1.431.012
304.889
273.097 326.213
1.135.196
11.609.472
.11.027.587
34
CITY OF DIAMOND BAR
Special Revenue Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Year ended June 30, 1999
Integrated Bicycle
State Prop. A Prop. C Waste Air Quality and
Gas Tax Transit Transit Management Improvement Pedestrian
Revenues:
Special assessments
$ -
-
-
-
-
-
Iritergovernmental
1,339,479
637,016
532,230
-
61,640
-
Charges for services
-
393,824
-
87,424
-
-
Investment income
164,402
96,676
114,597
9,347
8,011
1,563
Otherrevenues
-
-
-
Total revenues
1,503,881
1,127,516
646,827
96.771
69,651
1,563
Expenditures:
Current:
Public safety
-
-
-
-
-
Highways and streets
-
752,555
-
-
-
-
Public works
-
1,945
-
75,992
29
-
Community development
-
-
-
-
19,010
-
Parks, recreation and
culture
-
24,988
-
-
-
-
Capital outlay
-
-
-
-
Total expenditures .
-
779,488
-
75.992
19,039
Excess of revenues
over expenditures
1,503,881
348,028
646.827
20.779
50,612
1,563
Other financing sources (uses):
Operating transfers out7(
91,541)
3( 0.422)
56( 3.679)
-
-
Total other financing
sources (uses)
791 5413(
0.422)
563,679
-
-
Excess (deficiency) of
revenues and other
financing sources over
(under) expenditures
and other financing uses
712,340
317,606
83,148
20,779
50,612
1,563
Fund balances at beginning
of year
2,701,300
1,634,262
1,956.855
188,334
150,083.
12.951
Fund balances at end of year
$3,413,640
1,951.868
2,040,003
209,113
200,695
14,514
35
EXHIBIT B-2
10,956 74.571 305.314 163.262
(45,232 - 305.401 209,063
(45,232 305.40120( 9.063}
6.705 253.532 3,386.030 6.949.369
1.945.338) 5,431.887
(1.945,338) 5.431,887
j (34,276)
Park and
Community
6,705
253,532
Landscape,
1,517,482
1 205,431
Park
Facility
Development
846.692
Asset
Maintenance
Totals
1.431.012
Fees
Development
Block Grant
COPS
Seizure
Districts
1999
1998
_
-
-
-
553,443
553,443
561,772
423,284
196;056
-
-
3,189,705
5,836,955
_
_
_
_
_
-
481,248
432,020
10,956
72,571
-
17,043
16,705
48,232
560,103
523,387
2.000
-
2.000
1.297.575
10.956
74,571
423,284
213.099
16.705
601,675
4.786.499
8.651,709
13,029
10,000
-
23,029
5,540
_
-
-
752,555
681,582
-
-
347,780
425,746.
433,719
-
-
117,970
-
-
-
136,980
139,848
-
_
363
25,351
421,241
36.808
36.808
20.410
117.970
49.837
10,000
348.143
1,400,469
1.702.340
10,956 74.571 305.314 163.262
(45,232 - 305.401 209,063
(45,232 305.40120( 9.063}
6.705 253.532 3,386.030 6.949.369
1.945.338) 5,431.887
(1.945,338) 5.431,887
j (34,276)
74,571
(87) (45,801)
6,705
253,532
1,440,692
1,517,482
1 205,431
1.356,441
87 316.027
319.508
846.692
9.687.971
8.1'70.489
171.155
1.431.012
270.226
326.213
1,100,224
11.128.663
9.687,971
121
00911189 "*.
CITY OF DIAMOND BAR
State Gas Tax Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
Variance -
Favorable 1998
Budget Actual(Unfavorable) Actual
Revenues:
Intergovernmental
$ 964,500
Investment income
145,000
3,413,640
Total revenues
1,109,500
Excess of revenues over
expenditures
1,10 .500
Other financing sources (uses):
Operating transfers out
(3,027,158
Total other financing sources (uses)
5 8)
(3,0 27,158)
Excess (deficiency) of revenues
over (under) expenditures and
other financing uses
(1,917,658)
Fund balances at beginning of year
2,701,300
Fund balances at end of year
$ 783,642
37
1,339,479 374,979 1,198,242
164,402 19,402 146,951
1,503,881 394,381 1,345,193
1,503,881 394,381 1,345,193
_E21 541) 2,235,617 1.230.534
(791,541 2,235.617 (1,230,534)
712,340
2,629,998 114,659
2,701,300
2,586,641
3,413,640
2,629,998 2,701,300
CITY OF DIAMOND BAR
Proposition A Transit Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
Revenues:
Intergovernmental
Charges for services
Investment income
Total revenues
Expenditures:
Current:
Highways and streets
Public works
Parks, recreation and culture
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
Budget
$ 630,150
285,000
90,000
1,005,150
770,300
62,000
832,300
172,850
Actual
637,016
393,824
96,676
1,127,516
752,555
1,945
24,988
779,488
348,028
Variance -
Favorable
(Unfavorable)
6,866
108,824
6,676
122.366
17,745
(1,945)
37,012
52.812
1998
Actual
621,821
328,370
90,319
1,040,510
11,468
682,893
409.772
1 104.133
175.178 (63,623)
_flkO.,000)
(30 ,422)
69.578,
(57.400)
(M0,000)
(30,422)
69,578
(57,400
72,850
317,606
244,756(121.023)
1,634,262
1,634,262
1.755.285
$1,707112
1,951,868
244.756
1634.262
38
UNUMMIS,
CITY OF DIAMOND BAR
Proposition C Transit Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
Variance -
Favorable 1998
Budget Actual(Unfavorable) Actual
Revenues:
Intergovernmental
$ 526,600
-
532,210
Investment income
85,000
114,597
Total revenues
611,600
646,827
Excess of revenues over expenditures
611,600
646.827
Other financing sources (uses)
Operating transfers out
-CLIL5.,000)3
(563,,679679
Total other financing sources (uses)
I1d65,000)
_k563.679)
Excess (deficiency) of revenues
over (under) expenditures and
other financing uses
(553,400)
83,148
Fund balances at beginning of year
1,956.855
1.956,855
Fund balances at end of year
.403.,.455
$ 1
2,040,003
39
5,630
543,733
29.597
114,706
35,227
658,439
35.227
_658.439
601.321(744,083
01.321(744.083)
636,548 (85,644)
- 2,042,499
636,548 1,956,855
FWW�M
CITY OF DIAMOND BAR
Integrated Waste Management Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
Revenues:
Intergovernmental
Charges for services
Investment income
Total revenues
Expenditures:
Current:
Public works
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Fund balances at beginning of year
Fund balances at end of year
Variance -
Favorable 1998
Budget Actual(Unfavorable) Actual
80,000 87,424
7,000 9,347
87,000 96,771
98,950 75,992
98.950 75,992
(11,950) 20,779
188,334 188,334
$176.384 209,113
40
- 16,179
7,424 103,650
2.347 8,163
9.771 127.992
22.958 80,932
22.958 80.932
32,729 47,060
141,274
32.729 188,334
EXHIBIT B-7
,CITY OF DIAMOND BAR
Air Quality Improvement Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
41
Variance -
Favorable
1998
Budget
Actual(Unfavorable)
Actual
Revenues:
Intergovernmental
$ 45,000
61,640
16,640
61,465
Investment income
7,500
8,011
511
6,193
Total revenues
52,500
69,651
17,151
67,658
Expenditures:
Current:
Public works
-
29
(29)
-
Community development
.60,260
19,010
41,250
32,756
Capital Outlay
-
-
823
Total expenditures
60.260
19,039
41,221
33,579
Excess (deficiency) of
revenues over (under)
expenditures
(7,760)
50,612
.58,372
34,079
Fund balances at beginning of year
150,083
150,083
-
116,004
Fund balances at end of year
$142.323
200,695
58,372
150,083
41
CITY OF DIAMOND BAR
Bicycle and Pedestrian Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
l Year ended June 30, 1999
Revenues:
Investment income
Total revenues
Excess of revenues over expenditures
Fund balances at beginning of year
Fund balances at end of year
Budget Actual
$ - 1,563
- 1,563
- 1,563
11951 12,951
$12,951 14,514
42
Variance -
Favorable
(Unfavorable)
1,563
1,563
1,563
1,563
1998
Actual
1,577
1,577
1,577
11,374
12,951
EXHIBIT B-9
CITY OF DIAMOND BAR
Park Fees Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
Variance -
Favorable 1998
Budget Actual (Unfavorable) Actual
Revenues:
Investment income
$ 40.000
10,956-(Z2-,0-44)
29,191
Total revenues
40.000
10,956IZE044)
29,191
Excess of revenues over expenditures
40.000
10,956_(ZL044)
29,191
Other financing sources (uses):
Operating transfers out
(494.000)_(4L232)
448,768
(307.067)
Total other financing sources (uses)_J424.,000)232)
448,768
(307,067)
Excess (deficiency) of
revenues over (under)
expenditures and other
financing uses
(454,000)
(34,276)
419,724
(277,876)
Fund balances at beginning of year
205.431
205,431
- -
483.307
Fund balances (deficit) at end of year
1CL4�8.569)
171.155
419,724
205,431
43
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, 1999
44
Variance -
Favorable
1998
Budget
Actual
(Unfavorable).
Actual
Revenues:
Investment income
$ 80,000
72,571
(7,429)
58,866'
Other revenues
-
2,000
2,000
1,2�97575
Total revenues
80,000
--- 74.571
(5.429)
1.356.441
Excess of revenues over
expenditures
80,000
74,571
(5,429)
1,356,441
Fund balances at beginning, of year
1,356,441
1,356,.441
Fund balances at end of year
$1,436,441,
1,431012
-.,429)
(-5
1,3�64415
--
44
EXHIBIT B-11
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, -1-999
Budget Actual
Revenues:
Intergovernmental
$824,271
423,284
Total revenues
824,271
423,284
Expenditures:
Current:
Community development
129,271
117,970
Total expenditures
129,271,
117,970
Excess of revenues over
expenditures
695,000
305,314
Other financing sources (uses):
Operating transfers out
-JU4,000)(IQ1401)
Total other financing sources (uses)_L8
�4000)
(105.401)
Excess (deficiency) of
revenues over (under)
expenditures and other
financing uses
(109,000)
(87)
Fund balances at beginning of year
87
87
Fund balances (deficit) at end of year
j(1k&913)
45
Variance -
Favorable 1998
(Unfavorable) Actual
(400,987) 385,774
(400,987) 385,774
11,301
11,301
107,092
107,092
(389686) 278.682
498,599 (278,595)
498,599 (278,595)
108,913 87
108,913 87
EXHIBIT B-12
CITY OF DIAMOND BAR
COPS Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
Variance -
Favorable 1998
Budget Actual(Unfavorable) Actual
Revenues:
Intergovernmental
$193,400
196,056
2,656
Investment income
15,000
17,043
2,043
Total revenues
208,400
213,099
4,699
Expenditures:
Current:
Public safety
38,000
13,029
24,971
Capital outlay
104.000
36,808
67,192
Total expenditures
142,000
49,837
92,163
Excess of revenues over
expenditures
66,400
163,262
96,862
Other financing sources (uses):
Operating transfers out
jjj&090)
(209_,063)
(4-2—
--.973)
Tot al other financing sources (uses)jjk6.090)
(209063)
(42,973
Excess (deficiency) of revenues
over expenditures and other
financing uses
(99,690)
(45,801)
53,889
Fund balances at beginning of year
316,027
316..027
Fund balances at end of year
_$216.,337
270.226
53,889
46
192,038
12,726
204.764
3,740
19,587
23.327
.181.437
181,437
134,590
316..027
EXHIBIT B-13
CITY OF DIAMOND BAR
Asset Seizure Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
47 1
Variance -
Favorable
1998
Budget
Actual
(Unfavorable)
Actual
Revenues:
Intergovernmental
$ -
-
3,495
Investment income
18,000
16,705
(1,295)
17,242
Total revenues
18.000
16,705
(1,295)
20.737
Expenditures:
Public safety
10,000
10,000
1.800
Total expenditures
10,000
10,000
1,800
Excess of revenues
over expenditures
8,000
6,705
(1,295)
18,937
Fund balances at beginning of year
319.508
319,508
-
300.571
Fund balances at end of year
$327,508
326.,213
1.295
219.508
47 1
CITY OF DIAMOND BAR
Landscape Maintenance Districts Funds
Statement of Revenues,
Expenditures and Changes in Fund
Balances -
Budget and Actual
Year ended June 30, 1999
Variance -
Favorable
1998
Budget Actual
(Unfavorable).
Actual
Revenues:
Special assessments
$548,652 553,443
4,791
561,772
Investment income
20,500 48,232
27.732
37,453
Total revenues
569,152 601,675
3.2,523
599,225
Expenditures:
Current:
Public works
444,100 347,780
96,320
351,477
Park, recreation and culture
- 363
363)
-
Total expenditures
444,100 348,143
95,957
351.477
Excess of revenues over
expenditures
125,052 253,532
128,480
247,748
Fund balances at beginning of year
846,692 846,692
-
598,944
Fund balances at end of year
$971,744 1,100,224
128,480
846,692
48
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 funds received from the
County of San Bernardino in settlement of the Grand Avenue litigation. These funds are used for
street and traffic improvements along Grand Avenue.
Capital Improvement Fund - To account for the costs of constructing street improvements, park
improvements, and other public improvements not normally included within the other Capital
Projects funds. Financing is provided by developer fees and interfund transfers from the Special
Revenue Funds and the General Fund.
Redevelopment Agency Fund - To account for general fund monies transferred to the
Redevelopment Agency for approved capital projects and administrative costs.
49
EXHIBIT C-1
CITY OF DIAMOND BAR.
Capital Projects Funds
Combining Balance Sheet
June 30, 1999
50
Grand
Avenue
Capital
Redevelopment
Totals
Construction
Improvement
Agency
1999
1998
Assets
Cash and investments
$139,131
289,454
1,034,849
1,463,434
201,584
Interest receivable
-
-
4,398
4,398
-
Due from other funds
-
270,433
830,246
1,100,679
884,761
Total assets
$139,131
559,887
1,869,493
2,568,511
1,086.345.
Liabilities and fund balances
Liabilities:
Accounts payable
$ -
173,218
19,161
192,379
674,101
Accrued payroll
-
-
-
-
699
Retentions payable
-
16,826
-
16,826
-
Deferred revenue
-
105,928
-
105,928
-
Deposits
-
-
1,683,041
1,683,041
-
Due to other
governments
-
-
135,166
135,166
-
Total. liabilities
-
295.972
1,837,368
2,133,340
674,800
Fund balances:
Reserved for:
Encumbrances
-
263,915
32,125
296,040
-
Unreserved:
Designated for:
Specific projects
and programs
139,131
-
-
139,131
411,545
Total fund balances
139,131
263.915
32,125
435,171
411,545
Total liabilities
and fund balances
$139,131
559,887
1.869,493
2.568,511
1;086,345
50
CITY OF DIAMOND BAR
Capital Projects Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Year ended June 30, 1999
Grand
Avenue
Capital
Redevelopment Totals
Construction
Improvement
Agency
1999
1998
Revenues:
Licenses, permits
and fees $ -
1,572
-
1,572
-
Proceeds from sale
of property -
-
6,095,931
6,095,931
-
Investment income -
3,022
32,161
35,183
9,364
Total revenues -
4.594
6,128.092
6.132,686
9.364
Expenditures:
Current:
Highways and streets -
Public
434,710
-
434,710
1,852,708
works -
2,733
-
2,733
21,230
Community development -
406
259,695
260,101
463,269
Capital outlay -
723,855
83,046
806,901
3,056,454
Cost of property sold -
-
9,462,013
9,462,013
-
Debt service:
Interest -
-
106,440
106.440
28,064
Total expenditures -
1.161.704
9,911,194
11.072.898
5,421,725
Excess (deficiency) of
revenues over (under)
expenditures -
(1,157.110)
(3,783,102)(4,940,212)
(5.412,361)
Other financing sources:
Operating transfers in -
1,148,611
-
1,148,611
5,077,282
Proceeds of advances -
-
3,815.227
3,815.227
362,107
Total other financing
sources -
1,148,611
3,815,227
4,963,838
5.439,389
Excess (deficiency) of
revenues and other
financing sources over
(under) expenditures -
(8,449)
32,125
23,626
27,028
Fund balances at
beginning of year 139,131
272.414
-
411.545
384,517
Fund balances at end
of year $139,131
263,915
32,125
435.171
411,545
51
EXHIBIT C-3
CITY OF DIAMOND BAR
Grand Avenue Construction Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
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 1998
Budget Actual (Unfavorable) Actual
_139J31 139.131
$139,131 139.131
52
139,131
139,131
EXHIBIT C-4
CITY OF DIAMOND BAR
Capital Improvement Fund
'Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
Revenues:
Licenses, pen -nits and fees
Investment income
Total revenues
Expenditures:
Current:
Highways and streets
Public works
Community development
Capital outlay
Total expenditures
Excess (deficiency) of
revenues over (under)
expenditures
Other financing sources:
Operating transfers in
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
4,002,852 434;710
28,590 2,733
- 406
3.075.773 723,855
7,107,215 1,161.704
3,568,142 1,852,708
25,857 21,230
(406) 129,226
2.351.918 3.056.454
5,945,511 5,059,618
(6,869,715)
Variance -
5,712,605
(5,050
Favorable
1998
Budget Actual
(Unfavorable)
Actual
5,077,282
$ 237,500 1,572
(235,.928)
6,026,500
- 3,022
3,022
9,364
237,500 4,594(232,906
9,364
4,002,852 434;710
28,590 2,733
- 406
3.075.773 723,855
7,107,215 1,161.704
3,568,142 1,852,708
25,857 21,230
(406) 129,226
2.351.918 3.056.454
5,945,511 5,059,618
(6,869,715)
(1,157,.110)
5,712,605
(5,050
272,414
254)
6,026,500
1,148,6114
8(,
5,077,282
6,026,500
1,148,611
4,877,889)
5,077,282
(843,215)
(8,499)
834.,716 27,028
272,414
272,414
- 245,386
L570.801)
263.,915
---- --
834,716 272.,414
--
53
EXHIBIT C-5
CITY OF DIAMOND BAR
Redevelopment Agency Fund
Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual
Year ended June 30, 1999
54
Variance -
Favorable
1998
Budget
Actual
(Unfavorable)
Actual
Revenues:
Proceeds from sale of property $
6,095,931
6,095,931
Investment income
-
- 32,161
32,161
Total revenues
6,095,931
_6,128,092
32,161
Expenditures:
Current:
Community development
314,000
259,695
54,305
334,043
Capital outlay
634,695
83,046
551,649
-
Cost of property sold
9,462,013
9,462,013
-
-
Debt service:
Interest
-
106,440
(106,440)
28,064
Total expenditures
10.410,708
L194
9,911
499,514
362,107
Excess (deficiency) of
revenues over (under)
expenditures
(4.314,777)
(3,783 ,1_02)
531,675
(362,107)
—
Other financing sources:
Proceeds of advances
2.894.795
3,815,227
920,432
362,10
Total other financing sources
2.894.795
3,815,227
920,432
362,107
Excess (deficiency) of revenues and
other financing sources over (under)
expenditures
(1,419,982)
32,125
1,452,107
Fund balances at beginning of year
-
-
Fund balances at end of year
(1.419,982)
32 _125
1.452,107
54
AGENCY FUND
Agency Funds are used to account for assets held by a government as an agent for individuals,
private organizations, other governments and/or other funds.
The City of Diamond Bar has one Agency Fund:
Deferred Compensation Agency Fund — To account for monies held in trust by the City for
employees who elect to defer a portion of their salary until retirement.
55
CITY OF DIAMOND BAR
Agency Fund
Statement of Changes in Assets and Liabilities
Year ended June 30, 1999
Balance at
July 1. 1998 Additions Deductions
EXHIBIT D-1
Balance at
June 30, 1999
Deferred Compensation Fund
Assets
Cash and investments $743,199 743,199
-
Liabilities
Deferred compensation payable $743,199 743,199
56
(This page intentionally left blank)
GENERAL FIXED ASSETS ACCOUNT GROUP
57
CITY OF DIAMOND BAR
Comparative Schedule of General Fixed Assets by Source
. June 30, 1999
General fixed assets:
Land
Buildings
Improvements other than buildings
Furniture and equipment
Total general fixed assets
Investment in general fixed assets by source:
General fund
Donations
Federal and state governments
Assessment districts
Total investment in general fixed assets
58
1=61
$1,569,898
1,159,345
2,915,351
1.363.602
ffl�, •1
$3,646,438
162,949
3,186,221
12.588
$7.008,196
EXHIBIT E-1,
1998
1,569,898
1,159,345
2,915,351
1.123.443
6.768.037
3,432,721
162,949
3,159,779
12.588
6,768,037
EXHIBIT E-2
CITY OF DIAMOND BAR
Schedule of General Fixed Assets by Function and Activity
June 30, 1999
59
Improvements
Furniture
Otherthan
and
Function and Activity
Land
Buildings Buildings
Equipment
Total
General government:
-
8,969
8,969
City council
$ -
-
- -
823,138
823,138
Administration
-
- -
22,696
22,696
City clerk
C
-
-
30,959
30,959
Community development
-
-
-
66,678
66,678
Finance
Other
-
9.898
-
11,000
20,898
Total general government
9,898
- -
963,440
_ 973,338
Public safety:
-
128,519
128,519
Sheriff
Emergency preparedness
-
33,233
33,233
Total public safety
-
-
161,752
161,752
Public works
-
- -
27,981
27,981
Culture and recreation
1,560,000
1,159,345 2,915,351
178,002
5,812,698
Library
- -
32,427
32,427
Total general fixed assets
$1,569,898
1.159,345 2915.351
1., 363,602
7,008,196
59
CITY OF DIAMOND BAR EXHIBIT E-3.
Schedule of Changes in General Fixed Assets by Function and Activity
Year ended June 30, 1999
Function and Activity
General government:
City council
Administration
City clerk
Community development
Finance
Other
Total general government
Public safety:
Sheriff
Emergency preparedness
Total public safety
Public works
Culture and recreation
Library
Total general fixed assets
Balance at Balance at
June 30, 1998 Additions Deletions June 30. 1999
$ 8,969
-
-
8,969
652,397
253,095
82,354
823,138
27,223
-
4,527
22,696
19,563
24,418
13,022
30,959
71,911
-
5,233
66,678
20,898
-
20,898
800,961
277,513
105,136
973.338
102,077
26,442
-
128,519
33.233
-
33.233
135,310
26.442
161.752
22,463
5,518
27.981
5,776.876
35,822
5,812.698
32.427
-
32.427
$6,768,037
345.295
105.136
7,008.196
M-#
Table 1
City of Diamond Bar
GovernmentGeneral • - • by Function
Since Incorporation April,
(unaudited)
Fiscal
Year
General
Government*
Public
Safety
Public
Works.
Culture &
Recreation
Capital
Outlay*
Debt.
Service
Total
1988-89
249,482
438,805
90,927
31,296
0
6,325
816,835
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
(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
M
Total General Fund Expenditures
24,000,000
22,000,000
20,000,000
kry:
18,000,000
16,000,000
14,000,000
•1
�`"
■
12,000,000
•��-'
■
111 111
: 111 111
b °,. - ... ® ..,-
`-' .•A�� ® �..'`-®��'b`-
..� ■
{■
6111111
�_ �i.
.,.
■
111 111
�, .,,,
f
F''
2:000:0000
�- {.,-.• -�'�-.�.-����„•..`.
� �"§-� � � ��
■
..
'""'��
1988-89 1989-90 991 • • •. .6 ••1998-99
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
M
City of ~~^~� ~"" ~~~ ~~ -- |
General Government Revenues by Source (1) 1
Since Incorporation in April, 1989
|
(unaudited) (
Fiscal
Special
Licenses
Inter-
Fines &
Use ofMon�
Other
Year
Taxes*
Assessments
& Permits
Governmental
�e�u
&P
Revenue
Total
1988-89
21.093
O
112.578
1,371,326
1'946
1,650
46.825
1.555.218
1989-90
3'497.401
409.454
841.525
51271.606
183.852
440.520
8.313
10.662,671
1990-91
4.409.302
422.038
587.771
5,993.281
281.891
506.081
56.307
12.285.671
1991-92
4.598'790
466,369
864.280
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
6.640.400
253.824
732,693
56.399
13.216'395
1995'36
5.538.406
538.898
1,086'475
5.735,096
281'188
883,855
50.787
14,054,653 `
1906-97
5,708.029
530.375
1,417.073
6,354.150
178,267
1,005.683
42.856
15.234.433
1997-98
5'043'775
561.772
1'247.155
9,178'048
218.075
1,1GG.554
1.829.957
10.648.337
1998-99
6.359.824
553.443
2.147.195
6,535.812
573.448
1.181,8O5
6.150.240
23.520.088
U\Includes General, Funds.
Note: 1SS1'1SS2"Other Revenue includes &17S.G7S developerfees collected inthe Special Revenue Fund.
°Note:Taxes category includes Charges for Services.
°^Nota:Other Revenue includes proceeds from sale ofproperty.
Source: City Finance Department
RIN
Total General Fund Revenues
24,000,000
22,000,000
20,000,000
18,000,000
16,000,000
14,000,000
.9 12,000,000
5
:E 10,000,000
8,000,000
6000000
Mu
1988-89 1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96 1996-97 1997-98 1998-99
Fiscal Year
U\Includes General, Funds.
Note: 1SS1'1SS2"Other Revenue includes &17S.G7S developerfees collected inthe Special Revenue Fund.
°Note:Taxes category includes Charges for Services.
°^Nota:Other Revenue includes proceeds from sale ofproperty.
Source: City Finance Department
RIN
��~�� �� ��~������� Bar
__� ~. Diamond _
Secured Property Tax Levies and Collections
Since Incorporation in April, 1989
Fiscal
Year
Total
Current Levy
Total Current
Collections
Percentage of
Levy Collected
DnhouentTax
Receivables
1988'89
Not Available
Not Available
Not Available
Not Available
1989-90
908.401
835.878
92.02%
72.528
1990-91
1.089.679
1.013.572
83.02%
76.107
1991-92
1.232'346
1.144,019
92'83%
88.827
1992-93
1.117'482
1.025,382
91.7696
92.100
1993'94
1.180,485
818.467
68.34%
361.968
1994-95
1'804.068
1.625.911
90.12%
178.157
1995-96
1,796.598
1.711.983
95.29%
84.610
1996'87
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
1.7581764
97.16Y6
51.602
°Note:The City ofDiamond Bar settled aproperty tax lawsuit with Los Angeles County that
resulted inadditional 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 fig'ures as they were associated with the initial property tax transfer
odthe date ofincorporation.
Source: Los Angeles County AudUor/QuntnoUer.
63
Total Property Tax Collections
2,000,000
1,800,000
1,600,000
1,400,000
03
1,200,000
CU
U) 1,000,000
0
800,000
600,000
400,000
200,000
N.
1989-90 1990-91
1991-92 1992-93 1993-94 1994-95 1995-96
1996-97 1997-98 1998-99
Fiscal Year
°Note:The City ofDiamond Bar settled aproperty tax lawsuit with Los Angeles County that
resulted inadditional 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 fig'ures as they were associated with the initial property tax transfer
odthe date ofincorporation.
Source: Los Angeles County AudUor/QuntnoUer.
63
*1988-8Qand 1989-90estimated byusing the combined unincorporated areas of Pomona Unified
School and Walnut Valley Unified School Disthct-Sounce: California Muncipal GtaUaUoo
** Los Angeles County Auditor/Controller reported no Public Utility Valuations.
City of .~.~» _' _' _ _-
�
Assessed and
Estimated Actual Values of Taxable Property |
Since
Incorporation in April, 1989
(unaudited)
��on���"==x
|
�
Fiscal
Secured
Unsecured Public
Percentage
Year
Gross Value
Gross Value utility Exemptions
Total
| |
1
2,345.946'185
O O O
2,345946185
Not Applicable
1989'80
2'663.648.618
0 O O
2'683.648.618
13.54% |
1990'91
2.926.368.106
O 827,618 6.409.199
2,921Jq86.524
9.69% \
1991-92
3.285'467.698
40.698.263 692'390 10,921.687
3,315.836.684
13.49%
1992-93
3'493.803.851
45,032'160 O 27,932'643
3,510,903.368
5.88%
1993-94
3.536.458.242
49.709'273 844.313 26.119.688
3,561,887,140
1.45% \
1994-95
3.619.436'021
57,158.841 820.862 33,523.553
8.648'882.171
2'30%
1995-98
3.859'337,878
80,888.091 825'138 35.979.540
3.884.872,585
1'12%
1996-97
3,668,223.079
64.187.086 828.963 27.478.616
3.697.760,412
0'35% |
1987_98
3.646.994,575
67,863.380 884,347 37,731.128
3'677,011.183
-0.56%
1998-99
3,730.370,102
74.441.058 878.688 38,373.786
3.767.314,142
2.46% ,
*1988-8Qand 1989-90estimated byusing the combined unincorporated areas of Pomona Unified
School and Walnut Valley Unified School Disthct-Sounce: California Muncipal GtaUaUoo
** Los Angeles County Auditor/Controller reported no Public Utility Valuations.
too if
M
Elm
*1988-8Qand 1989-90estimated byusing the combined unincorporated areas of Pomona Unified
School and Walnut Valley Unified School Disthct-Sounce: California Muncipal GtaUaUoo
** Los Angeles County Auditor/Controller reported no Public Utility Valuations.
�
|
City of Bar ~~.�� ~'~ Diamond ~~
. . Governments
' �������� ��� �� UU ��K���� ��� ���K�� ,����000N�...~
Property -- -� . -~. Rates -All ' -' _ _- _ - - . " ~.
�K������� m� ���UU���i��m&
/ �"~^"~p"~"�~~~^~�����~~^ Valuation)
'-v
| S~nce Incorporation in April, 1989
(unaudited)
Fiscal General Los Angeles Walnut Valley Walnut Valley L.A County LAOounty Metropolitan
Year Levy County School District Water -District Flood Control Sanitation Water District Total
1830f91
1.0000000
0�021040
0.1597230
0.0578770
1991-92
1.000000
0.0018880
0.0404290
0.0516750
1992-93
1.0000000
0.0014090
0.0974170
0.0461650
1933-84
1.0000000
0.0017130
0.0863570
0.0448070
1894-95
1.0000000
0.0013980
0.0649080
0.0000000
1995'96
1.0000000
0.0018140
0.0089866
0.0000000
1996'97
1.0000000
0.0016040
0.0850380
0.0000000
1997-98
1.0000000
0.0015840
0.1025300
0.0000000
1908'39
1.0000000
0.0014510
0.0694610
0.0000000
0.0057860 0.000747
0.0053760 0.0002090
0.0033970 0.0002060
0.0042120 0.0000000
0.0060410 0.0000000
0.0009630 0.0000000
0.0019910 0.0000000
0.0021370 0.0000000
0.0019530 ODOOOOOO
- Not Available
-
Not Available
0.0097000 1.2853870
0.0089000 1.1084770
0.0089000 1.1594940
0.0089000 1.1459890
0.0089000 1.0818370
0.0089000 1.0206636
0.0089000 1.0975330
0.0089000 1.1152110
0.0089000 1.0817650
*Note: Property tax rates based onatypical tax rate area.
Source: Los Angeles County Auditor/Controller, Hdl Coren & Cone
��
=
Typical Property Tax Rates
(Percent of Assessed Value)
IM"
0.5000000-
0.2500000 1
VON
�MN
0.0000000
1988-89
1989-90 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99
Fiscal Year
*Note: Property tax rates based onatypical tax rate area.
Source: Los Angeles County Auditor/Controller, Hdl Coren & Cone
��
=
City of Diamond Bar
Principal Taxpayers
June 30, 1999
Taxpayer
Primary Use
Diamond Bar Business Associates
Commercial
/N&HRealty Partners U
Commercial
Shea Homes Limited Partnership
Industrial
Arden Realty Limited Partnership
Commercial
Martin Brattrud Properties
Commercial
Lakeview Village Corporation
Commercial
HRBarnzoFamily Limited Partnership
0.28K0%
Diamond Bar Hotel Fund Limited
Commercial
Mark RToumaiCompany Trust
0.223Y&
Inter Community Health
Commercial
M.
1998-1999
Percentage of Total
Assessed Valuation
Net Assessed Valuation
24.195'400
0.633%
20,666,119
0.541%
11.384,853
0.288%
10,790,000
0.282Y6
10,688/485
0.28K0%
8.438.099
0.247%
81525.458
0.223Y&
8,219'584
0.215%
8.183,000
0.214%
119,476,008 3.127%
City of Diamond Bar
Computation of Legal Debt Margin
June 30,1999
AaoaoaedValuations:
Assessed Value 14.142
Add Back: Exempt Property 38,373,706
Total Assessed Value 3805687848
Legal Debt Margin:
- Debt limitations -1 5% of TotaAssessed Value* 570.853.177
Debt Applicable hnLimit
Total Bonded Debt u
Less: Special Assessment Bonds O
Revenue Bonds v
Available for Repayment ofGeneral Obligation Bonds O
Total Debt Applicable to Limitation O
Legal Debt Margin 570,853 ,177
The City ofDiamond Bar has nobonded indebbneen.
*Section 43605 of the California Government Code
Source: City Finance Department, Hdl Coren & Cone
8�
=
~'
Table ' |
(
City of Diamond Bar
'%-.*omputation of Direct and Overlapping Debt
June 30, 1999
Report reflects general obligation debt which iebeing repaid through |ndebtnesm.
It excludes, mortgage revenue, tax allocation bonds, interim financing obligations, non -bonded
capital lease obligations and certificates of participation.
`
This fund isaportion ofalarger agency, andis responsible for debt inareas outside the city.
Source: City Finance Department, Hd Con*n&Cone
|
/
68 |
�/
Gross Bonded
q6 Applicable
Debtfy
Government
Debt Balance
To City
6/30/99
Los An |eoCo Facilities 1887Debt Service
53/005.000
0.691
366.265
LACoFlood Control (Storm Drain Bond No4)
24,250'00
0.707
171,440
Flood Control Ref. Bonds 13S3Debt Service
14,485.000
0.707
102.4Q9
*Metropolitan Water District Area 1112 Debt Service
578.035.000
0.236
1.364'163
*Three Valley MWD OrigArea
578.035.000
0.236
1.364.163
Pomona Unified BD19S8Series A Debt Service
10,000.000
25'421
2.542.100
Pomona Unified BO10Q8Series B Debt Service
15.000.000
25.421
3'813.150
Pomona Unified GORefund Series 1QQ7A DeLd8envio
50.515'000
25.421
12.841'418
Pomona Unified SO1QQ1Series G Debt Service
9.830.000
25.421
2.498,884
Walnut Valley Unified GDRefund Series 1SQ7ADB
44.762.718
72.559
32,479,381
Total Gross Direct and Overlapping Bonded Debt
57,543,379
1998/1999 Assessed Valuation: 3.374.799,295
Debt hoAssessed Valuation Ratios:
Direct Debt
0.00%
Overlapping Debt
1.71
Total Debt
1.71
Report reflects general obligation debt which iebeing repaid through |ndebtnesm.
It excludes, mortgage revenue, tax allocation bonds, interim financing obligations, non -bonded
capital lease obligations and certificates of participation.
`
This fund isaportion ofalarger agency, andis responsible for debt inareas outside the city.
Source: City Finance Department, Hd Con*n&Cone
|
/
68 |
�/
,• - •
City of Diamond Bar
Schedule of Insurance
June 30, 1999
Type of Coverage Limits/Deductibles Insurer Policy period
Liability:
General Liability, Automobile $50,000,000 combined single Self Insured Program/ 07/1/99-06/30/00
Liability, Bodily Injury, Property limit each occurrence, $50,000,000 California Joint Powers
Damage, Personal Injury. aggregate. $20,000 self insured Insurance Authority.
retention.
Special Liability:
Errors and ommissions, $50,000,000 each occurrence,
Employment Practices injury, $50,000,000 aggregate. Retained
Contractual Liability injury, loss of $20,000 per occurrence
Broadcast/Publication injury,
Employee Benefits, Administr-
ation injury, Discrimination
injury.
Property:
All -Risk, including buildings, $100,000,000 per occurence,
contents, garaged vehicles, deductible of $5,000 per occurrence.
contractor's equipment, fine
arts, rental income and other
miscellaneous extentions
of coverage.
Automobile:
Automobile Physical Damage $100,000,000 per occurence,
deductible of $1,000 per occurrence
Crime:
Public Employee Blanket
Fidelity.Bond-
Faithful Performance Bond
$1,000,000 limit, deductible of
Coverage 'O'
$5,000 per occurrence
Depositor's Forgery
$1,000,000 limit, deductible of
Coverage 'B'
$5,000 per occurrence
Crime- Money & Securities
$1,000,000 limit, deductible of
Coverage 'C'
$5,000 per occurrence
Computer Fraud
$1,000,000 limit, deductible of
Coverage 'F'
$5,000 per occurrence
Worker's Compensation:
Work related injury/illness
California Statutory limit; $1,000,000
claims for temporary and
empluyers liability.
permanent disability.
Special Events:
Tenants/Users for Property
$1,000,000 limit, no deductible
damage/bodily injury
Source: City Finance Department
Self Insured Program/ 07/1/99-06/30/00
California Joint Powers
Insurance Authority.
Robert F. Driver Assoc. 01/01/98-12/31/99
Robert F. Driver Assoc. 01/01/98-12/31/99
Robert F. Driver Assoc. 01/01/98-12/31/99
Robert F. Driver Assoc. 01/01/98-12/31/99
Robert F. Driver Assoc. 01/01/98-12/31/99
Robert F. Driver Assoc. 01/01/98-12/31/99
State Compensation 10/01/97-10/01/98
Insurance Fund
Robert F. Driver Assoc. 04/01/98-04/1/00
�
Table 10 1 .
City of Diamond Bar
June 30, 1999
1S8S
Date of|ncorporat�n _-.-.---.-~,__,-_,__,___.__.._,_. April 18,
Form ofGovernment -...-.-...-~.---.~.--^.--.._.-..-.-- Council -Manager
Area ---..-.....~..-.....-.---..._--......_..-.....- 14.QSquare miles
13�
MUeaofStreets .--._.-.-.,--.--.......--^.--_,-_.._.,,_....,____,
,__~__~.__~._,,__,,_,,.__,,_,.~_.,,--.--. 30
11
n�e) -.-...----_----^-'''~^~^'''~--^~--^'-'''~'--~'''-
Fire Protection
Population
(Los Angeles County Consolidated Fire protection District)
1889
60,000
3
NunlberofStations ---.-.-..-...-.^.-....-.~..-....-...-...--~-~,..
63.672
-11.79%
8b
Nunlbe;of{���era .--.----.-.-...-..-..-...,.-...-.,,....,.`-.,,__,,,
-0.14%
8ewauz
Gavvero -.--.--.---.----..----.-..-...---..-.----..-. 146J88
Sanitary 31.95
Recreation &Culture:
Community Centers ..-....--...--.'.-.,--..-...--_--..--..-_-.. 1
1O
Parks ..-.....,-'-^---''--''~'----^'--^''--~`--^-''~''-^�^'-'~-'
60.9ParkAoreoga(deve�ped) .-.----..--.-------.-^..~--....-----..-
81.5
BenlantarySchools (K -G) .-.-....--_--_----.-..-...,---..--..-.---. 7
Middle Schools K6-8\ .-.-....-._.----..-~.--~......._-..~..-..--..-. u
JrHigh Schools y7-8\ -...--.-.-.--..__,,,_~,,,_',,_,,,_,~_~,.__. u
High Schools (Q42) -.-.-..----...-...--.----....----...--~----- u
Date
Population
Percentage Increase
1889
60,000
-
1990
63.672
-11.79%
1991
53.596
-0.14%
1982
53,576
'0.0496
1993
54.315
1'36%
1994
54,507
0.35%
1995
54.284
-0.41%
1996
58.00
3.07%
1987
56.659
1.16%
1998
57.271
1.07%
1899
58.300
1.77%
Note: 1Q8&population numbers are unestimate.
*Source: State of California, Department of Finance
'
|
70 |
Table 11
City of Diamond Bar
Residential and Commercial Construction
Since Incorporation in April, 1989
(unaudited)
New Construction
Fiscal Residential (1) Commercial
Year Units Value Units Value
I *-
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
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
Bank Deposits
1988-89
321,853,000
1989-90
343,605,000
1990-91
377,224,000
1991-92
381,710,000
1992-93
371,506,000
1993-94
379,581,000
1994-95
423,640,000
1995-96
1996-97
480,610,000
1997-98
472,071,000
1998-99
532,147,000
(1) Includes multiple dwellings
Source! City's Contract Building & Safety Provider, Findley Reports
71
of Diamond Bar
Rati o-UUn reserved General Fund Balance to Annual General Fund
Expenditures
Since Incorporation in' April, 1989
(unaudited)
' -- �--���-- ---- ---'�e ---------
Unreserved Annual
Fiscal
General Fund General Fund
Year
Balance Expenditures
Ratio
1888-89
50.815 798.947
0.0637
1988-90
1.375.030 8'600.559
0.1432
1980-91
2.200.322 8'031.932
0.2789
1901-82
3'019.852 ' 8.208.271
0.3679
1992'93
3.305.067 8.232'941
0.4014
1983-94
5'677'619 9.329.431
0.6088
1994-95
7.711.454 8.241.463
0.9357
1995-96
9.600.848 8,446.432
1^1367
1998-97
10,755.111 8.777'410
1.2253
1997'98
12.392.358 9.401.308
1.3182
1898-98
15.857.435 10.511,020.
1.5086
General F und Ratio
0.2000
0.0 Will
1988-89 1989-90 199G-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99
Fiscal Year
Source: City Finance Department
72
CITY OF DIAMOND BAR
Schedule of Credits
Year ended June 30, 1999
Name
Terrence L. Belanger, City Manager
Linda G. Magnuson, Finance Director
Gina M. Tharani, Accountant 11
Conrad and Associates, C.P.A., L.L.P.
April A. Blakey,
Communications and Marketing Coordinator
Source: City of Diamond Bar
73
Table l' )
Area of Contribution
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