HomeMy WebLinkAboutACFR - FY 2022-23CITY OF DIAMOND BAR, CALIFORNIA
Annual Comprehensive Financial Report
June 30, 2023
Prepared by:
Finance Department
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CITY OF DIAMOND BAR, CALIFORINA
Annual Comprehensive Financial Report
June 30, 2023
Table of Contents
Page(s)
INTRODUCTORY SECTION
Letter of Transmittal ..................................................................................................................................................... i
GFOA Certificate of Achievement for Excellence in Financial Reporting .................................................................. vi
Organization Chart .................................................................................................................................................... vii
List of Elected and Administrative Officials ............................................................................................................. viii
FINANCIAL SECTION
Independent Auditors’ Report .................................................................................................................................... 1
Management's Discussion and Analysis (Required Supplementary Information) ..................................................... 5
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements
Statement of Net Position ........................................................................................................................... 20
Statement of Activities ................................................................................................................................ 21
Fund Financial Statements
Balance Sheet – Governmental Funds ...................................................................................................... 22
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Position ................................................................................................................. 23
Statement of Revenues, Expenditures, and Changes in Fund Balances .................................................. 24
Reconciliation of Statement of Revenues, Expenditures and Changes in
Fund Balances of the Governmental Funds to the Statement of Activities ................................................ 25
Statement of Net Position – Proprietary Funds .......................................................................................... 26
Statement of Revenues, Expenses, and Changes in Fund Net
Position – Proprietary Funds ...................................................................................................................... 27
Statement of Cash Flows – Proprietary Funds ........................................................................................... 28
Notes to Basic Financial Statements ............................................................................................................. 29
CITY OF DIAMOND BAR, CALIFORNIA
Annual Comprehensive Financial Report
June 30, 2023
Table of Contents
Page(s)
REQUIRED SUPPLEMENTARY INFORMATION
Budgetary Comparison Information:
Budgetary Comparison Schedule – General Fund ................................................................................. 5 8
Budgetary Comparison Information:
Budgetary Comparison Schedule – Traffic Improvement Fund ............................................................. 59
Schedule of Proportionate Share of the Net Pension Liability ........................................................................ 60
Schedule of Plan Contributions – Pension ..................................................................................................... 62
Schedule of Changes in the Net OPEB Liability and Related Ratios ............................................................. 6 4
Schedule of Contributions – OPEB ................................................................................................................. 66
Notes to Required Supplementary Information .............................................................................................. 69
SUPPLEMENTAL INFORMATION
Combining Balance Sheet .............................................................................................................................. 70
Combining Statement of Revenues, Expenditures, and Changes in
Fund Balances ................................................................................................................................................ 78
Budgetary Comparison Schedules - Special Revenue Funds:
State Gas Tax Fund .................................................................................................................................... 86
Proposition A Transit Fund .......................................................................................................................... 87
Proposition C Transit Fund ......................................................................................................................... 88
Integrated Waste Management Fund .......................................................................................................... 89
Sewer Mitigation Fund ................................................................................................................................. 90
Air Quality Improvement Fund ..................................................................................................................... 91
Road Maintenance & Rehab Fund .............................................................................................................. 92
Trails & Bikeways Fund ............................................................................................................................... 93
Beverage Center Recycling Grant Fund ..................................................................................................... 94
Used Oil Block Grant Fund .......................................................................................................................... 95
Park and Facility Development Fund........................................................................................................... 96
Community Development Block Grant (CDBG) Fund ................................................................................ 97
Citizens Option for Public Safety (COPS) Fund .......................................................................................... 98
California Law Enforcement Equipment Program (CLEEP) Fund ............................................................... 9 9
Landscape Maintenance District Fund ...................................................................................................... 100
Measure R Local Return Fund .................................................................................................................. 101
PEG Fees Fund ......................................................................................................................................... 102
Hazard Mitigation Grant Fund ................................................................................................................... 103
Waste Hauler Fund .................................................................................................................................... 104
CASP Fees (SB1186) ................................................................................................................................ 105
Measure A Neighborhood Parks Acts Fund .............................................................................................. 106
Street Beautification Fund ......................................................................................................................... 107
Measure W Return Fund ........................................................................................................................... 108
Measure M Local Return Fund .................................................................................................................. 109
CITY OF DIAMOND BAR, CALIFORNIA
Annual Comprehensive Financial Report
June 30, 2023
Table of Contents
Page(s)
SUPPLEMENTAL INFORMATION (Continued)
Budgetary Comparison Schedule – Capital Projects Fund:
Capital Improvement Funds ...................................................................................................................... 110
Budgetary Comparison Schedule – Debt Service Funds:
Public Financing Authority ......................................................................................................................... 111
Internal Service Funds:
Combining Statement of Net Position ........................................................................................................... 112
Combining Statement of Revenues, Expenses, and Changes in
Fund Net Position ......................................................................................................................................... 113
Combining Statement of Cash Flows ........................................................................................................... 114
STATISTICAL SECTION
Financial Trends:
Net Position by Component - Last Ten Fiscal Years .................................................................................... 117
Changes in Net Position - Last Ten Fiscal Years ......................................................................................... 118
Fund Balances of Governmental Funds - Last Ten Fiscal Years ................................................................. 120
Changes in Fund Balances of Governmental Funds - Last Ten Fiscal Years .............................................. 122
Revenue Capacity:
Property Tax Dollar Breakdown .................................................................................................................... 124
Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years .................................. 125
Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years ........................................................... 126
Top 10 Property Taxpayers - Current Fiscal Year and Ten Fiscal Years Ago ............................................. 127
Property Tax Levies and Collections - Last Ten Fiscal Years ...................................................................... 128
Debt Capacity:
Ratios of Outstanding Debt by Type - Last Ten Fiscal Years....................................................................... 129
Direct and Overlapping Debt ........................................................................................................................ 130
Computation of Legal Debt Margin - Last Ten Fiscal Years ......................................................................... 131
Demographic and Economic Information:
Demographic and Economic Statistics - Last Ten Calendar Years .............................................................. 132
Taxable Sales by Category - Current Fiscal Year and Nine Fiscal Years Ago ............................................ 134
Operating Information:
Full-Time Equivalent City Employees by Function - Last Ten Fiscal Years ................................................. 136
Operating Indicators by Function - Last Ten Fiscal Years ............................................................................ 137
Capital Asset Statistics by Function - Last Ten Fiscal Years ....................................................................... 138
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Stan Liu Chia Yu Teng Ruth M. Low Andrew Chou Steve Tye
Mayor Mayor Pro Tem Council Member Council Member Council Member
At-Large District 4 At-Large District 3 District 1
City of Diamond Bar I 21810 Copley Drive Diamond Bar CA 91765-4178
www.DiamondBarCA.gov I (909) 839-7000
December 11, 2023
Honorable Mayor and Council Members
City of Diamond Bar
Diamond Bar, California
It is an honor to submit to you the Annual Comprehensive Financial Report
(ACFR) of the City of Diamond Bar for the fiscal year ended June 30, 2023. This
report consists of management’s representations concerning the finances of
the City. Consequently, responsibility for both the accuracy of the presented
data and the completeness and fairness of the presentation, including all
disclosures, rests with the City’s management. To provide a reasonable basis
for making these representations, management of the City has established a
comprehensive internal control framework that is designed both to protect the
City’s assets from loss, theft, or misuse and to compile sufficient reliable
information for the preparation of the City’s financial statements in
conformance with generally accepted accounting principles (GAAP).
Because the cost of internal controls should not outweigh their benefits, the
City’s comprehensive framework of internal controls has been designed to
provide assurance that the financial statements will be free from misstatement.
As management, we assert that, to the best of our knowledge and belief, this
financial report is complete and reliable in all material aspects.
The City’s financial statements have been audited by Lance, Soll, & Lunghard,
LLP, a firm of certified public accountants. The goal of the independent audit
is to provide reasonable assurance that the financial statements of the City for
fiscal year ended June 30, 2023, are free of material misstatement. The
independent audit involved examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements; assessing the
accounting principles used and significant estimates made by management;
and evaluating the overall financial statement presentation.
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Honorable Mayor and Council Members December 11, 2023
The independent auditor concluded based upon the audit that there was a
reasonable basis for rendering an unmodified opinion that the City’s financial
statements for the fiscal year ended June 30, 2023, were fairly presented in
conformity with GAAP. The independent auditor’s report is presented as the first
component of the financial section of this report.
GAAP requires that management provide a narrative introduction, overview, and
analysis to accompany the basic financial statements in the form of
Management’s Discussion and Analysis (MD&A). This letter of transmittal is
designed to complement and should be read in conjunction with the MD&A. The
City’s MD&A can be found immediately following the report of the independent
auditors.
PROFILE OF THE CITY OF DIAMOND BAR
The City of Diamond Bar was incorporated on April 18, 1989, and is located at the
eastern edge of Los Angeles County in the East San Gabriel Valley. Diamond Bar
is primarily a residential community of about 57,000, 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 75 acres of developed park
facilities, hiking trails, a community center, a County-owned and operated 18-
hole public golf course and more than 370 acres of undeveloped publicly owned
open space.
Diamond Bar is also strategically located at the junction of the SR-57 and SR-60
freeways with easy access to I-10 and SR-71 freeways. This makes Diamond Bar a
desirable and convenient location to live and work within close proximity to Los
Angeles, Orange, Riverside and San Bernardino counties.
Diamond Bar is a General Law city and operates under the council-manager form
of government. Policy making and legislative authority are vested in a five-
member City Council. The City Council is responsible, among other things, for
passing ordinances, adopting the budget, appointing Commissioners, and hiring
both the City Manager and contracting for City Attorney services. The Council
Members are elected by districts on a non-partisan basis and serve four-year
staggered terms, with elections held every other year. Each December, the City
Council selects a Mayor and Mayor Pro Tem from its membership. The City
Manager is responsible for overseeing the day-to-day operations of the City, and
for appointing the heads of the various departments.
The City of Diamond Bar operates primarily as a “contract city” utilizing
agreements with other governmental agencies, private sector firms and
individuals to provide many of its essential services. This includes law enforcement
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Honorable Mayor and Council Members December 11, 2023
services, animal services, building and safety services, engineering, road
maintenance and landscape maintenance.
The Los Angeles County Fire District provides fire protection, which is independent
of the City. Los Angeles County also provides library services through a Library
District, and sewer and sanitation services through a Sanitation District. Funds for
these services are collected through property tax bills and are disbursed directly
by the Los Angeles County Tax Collector's Office to those entities.
Water services for the City are provided by the Walnut Valley Water District.
Refuse collection is provided by private waste collection companies.
Additionally, schools are provided by both the Walnut Valley Unified School
District and the Pomona Unified School District. Accordingly, none of these
activities are included in this report.
ECONOMIC CONDITION AND OUTLOOK
This past year marks the end of the Emergency Declarations at the federal, state,
county and local levels related to the COVID-19 global pandemic. While not
totally eradicated, there are now adequate tools and resources in place to
minimize the impacts of COVID-19 on the health care system and individuals
allowing for the complete restoration of City programs and services.
From a financial perspective, there is reason to be more optimistic. Because of
the severe financial impacts to cities across the nation, on March 11, 2021 the
President signed the American Rescue Plan Act (ARPA) which is a $1.9 trillion relief
package to mitigate the continuing effects of the COVID-19 pandemic. Of that
amount, approximately $64 billion has been allocated to provide direct and
flexible financial resources for every city and town in the nation.
The City of Diamond Bar has received its full allocation of American Rescue Plan
Act (ARPA) Funds over the past two years totaling just over $6.8 million. In January
2022, the U.S. Treasury issued a final rule that provides for municipalities to attribute
up to $10 million in ARPA Funds to be used on governmental services. As such,
these funds have been used for a broad range of purposes including the
replacement of lost revenue, restoration of City programs and services, COVID-
19 expenses not otherwise reimbursed, and general governmental services and
projects that help build resiliency and financial stability for the residents and
businesses of the City.
The Adopted FY 2023/24 Budget provides a positive outlook and continues to
expand many City programs and services, advance deferred maintenance and
Capital Improvement Projects, and focuses on key initiatives consistent with the
City’s recently adopted 2024-2027 Strategic Plan. However, the City continues to
remain watchful given the pressure on rising costs driven by a competitive labor
market, higher fuel prices and other economic indicators that may lead to a
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Honorable Mayor and Council Members December 11, 2023
recession in the near term; therefore, Economic Development continues to be an
area of priority for the City. Accordingly, the FY 2023/24 Budget incorporates
resources dedicated to continue planning efforts to create a pedestrian-oriented
and walkable Town Center and programs to retain current businesses and attract
new businesses that increase the City’s employment base and generate revenue.
AWARDS
The Government Finance Officers Association of the United States and Canada
(GFOA) awarded a Certificate of Achievement for Excellence in Financial
Reporting to the City of Diamond Bar for its annual comprehensive financial report
for the fiscal year ended June 30, 2022. 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 annual comprehensive
financial report (ACFR), with contents that conform to program standards. The
ACFR 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 twenty-
eight consecutive years (fiscal years ended 1995 through 2022). We believe our
current report continues to meet the Certificate of Achievement Program’s
requirements and we will be submitting it to GFOA to determine its eligibility for
another certificate.
REPORTING ENTITY AND ITS SERVICES
This Annual Comprehensive Financial Report includes all funds of the City. The
City directly provides a limited range of services and contracts for several other
services. The City's significant reliance on contracted services has the benefit of
reducing expenses to the citizens of the City of Diamond Bar while simultaneously
providing the City with a high degree of flexibility in responding to changing
economic conditions.
Contracted services include law enforcement protection, building and safety,
street maintenance, park maintenance, capital improvement projects, animal
control, attorney services and engineering. Staff provided services include:
community development (which includes planning, building and safety
administration, and neighborhood improvement), public works (which includes
engineering, capital projects administration, street maintenance contract
management, traffic and transportation matters, engineering contract
management, park maintenance, landscape maintenance and solid waste
contract management), parks & recreation (which includes senior services,
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Honorable Mayor and Council Members December 11, 2023
recreation services, community events and community center operation), public
information, subsidized transit ticket sales, grant administration, financial
management, administrative management, human resources and risk
management, information systems and economic development. All of these
activities are included in this report.
INTERNAL CONTROLS
The City of Diamond Bar’s accounting system has been developed by giving
consideration to the adequacy of internal accounting controls. Internal
accounting controls are implemented by the City to provide reasonable
assurance that assets are safeguarded against loss from unauthorized use or
disposition; and that the City’s financial records used for preparing financial
statements are maintained in a reliable fashion. The concept of reasonable
assurance recognizes that the cost of these controls should not exceed the
benefits derived from them. The City’s internal controls accomplish these
objectives.
ACKNOWLEDGEMENTS
The preparation of this Annual Comprehensive Financial Report was made
possible by the dedicated service and excellence found within the City's Finance
Department staff, and through the cooperation of the entire City staff. Each City
staff member has my sincere appreciation for their cooperation and contributions
in the preparation of this Report.
I would like to thank Jason Jacobsen, Finance Director, for his prudent fiscal
stewardship. In addition, I would also like to thank our independent auditor,
Lance, Soll, and Lunghard, LLP, who provided expertise and advice in the
preparation of the City's Annual Comprehensive 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,
Daniel Fox
City Manager
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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Diamond Bar
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2022
Executive Director/CEO
vi
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OFFICIALS OF THE CITY OF DIAMOND BAR
As of December 11, 2023
City Council
Stan Liu, Mayor
Chia Yu Teng, Mayor Pro Tem
Andrew Chou, Council Member
Ruth Low, Council Member
Steve Tye, Council Member
Administration and Department Heads
City Manager Dan Fox
Assistant City Manager Ryan McLean
City Clerk Kristina Santana
Director of:
Parks & Recreation Ryan Wright
Community Development Greg Gubman
Finance Jason Jacobsen
Information Systems Ken Desforges
Public Works David Liu
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1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
INDEPENDENT AUDITORS’ REPORT
To the Honorable Mayor and Members of the City Council
City of Diamond Bar, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, each major fund, and the
aggregate remaining fund information of City of Diamond Bar, California (the “City”), as of and for the year ended
June 30, 2023, and the related notes to the financial statements, which collectively comprise the City’s basic
financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities, each major fund, and the aggregate remaining fund information of
the City, as of June 30, 2023, and the respective changes in financial position, and, where applicable, cash flows
thereof, and the respective budgetary comparison for the General Fund and the major special revenue funds, as
listed in the table of contents, for the year then ended in accordance with accounting principles generally accepted
in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Our responsibilities under those standards are further described in the
Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be
independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical
requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States of America, and for the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events,
considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for
twelve months beyond the financial statement date, including any currently known information that may raise
substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions.
Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee
To the Honorable Mayor and Members of the City Council
City of Diamond Bar, California
that an audit conducted in accordance with generally accepted auditing standards and Government Auditing
Standards will always detect a material misstatement when it exists. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material
if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by
a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards and Government Auditing
Standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the City’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified
during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion
and analysis, budgetary comparison schedules for the General Fund and major special revenue funds, and the
required pension and other postemployment benefits schedules, as listed on the table of contents, presented to
supplement the basic financial statements. Such information is the responsibility of management and, although not
a part of the basic financial statements, is required by the Governmental Accounting Standards Board who
considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States of
America, which consisted of inquiries of management about the methods of preparing the information and
comparing the information for consistency with management’s responses to our inquiries, the basic
financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do
not express an opinion or provide any assurance on the information because the limited procedures do not provide
us with sufficient evidence to express an opinion or provide any assurance.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise
the City’s basic financial statements. The accompanying combining and individual fund financial statements and
schedules (supplementary information) are presented for purposes of additional analysis and are not a required
part of the basic financial statements. Such information is the responsibility of management and was derived from
and relates directly to the underlying accounting and other records used to prepare the basic financial statements.
The information has been subjected to the auditing procedures applied in the audit of the basic financial statements
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To the Honorable Mayor and Members of the City Council
City of Diamond Bar, California
and certain additional procedures, including comparing and reconciling such information directly to the underlying
accounting and other records used to prepare the basic financial statements or to the basic financial statements
themselves, and other additional procedures in accordance with auditing standards generally accepted in the
United States of America. In our opinion, the supplementary information is fairly stated, in all material respects, in
relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual report. The other information comprises
the introductory and statistical sections but does not include the basic financial statements and our auditor’s report
thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express
an opinion or any form of assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other information and
consider whether a material inconsistency exists between the other information and the basic financial statements,
or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude
that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 8, 2023, on
our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain
provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is
solely to describe the scope of our testing of internal control over financial reporting and compliance and the results
of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting
or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering City’s internal control over financial reporting and compliance.
Brea, California
December 8, 2023
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MANAGEMENT’S DISCUSSION AND ANALYSIS
As management of the City of Diamond Bar, we offer readers this narrative
overview and analysis of the financial activities of the City for the fiscal year
ended June 30, 2023. We encourage readers to consider the information
presented here in conjunction with additional information that we have furnished
in our letter of transmittal.
FINANCIAL HIGHLIGHTS
The total revenues from all sources totaled $44,495,555, an increase of
13% from the prior year.
The total cost of all City programs totaled $37,437,635 an increase of
12% from the prior year.
The assets and deferred outflows of the City of Diamond Bar exceeded its
liabilities and deferred inflows at the close of the fiscal year by $394,747,347
(net position), an increase of $7.1 million from the prior year. Of this amount,
$33,831,520 represents unrestricted net position may be used to meet the
City’s ongoing obligations to citizens and creditors.
As of the close of the current fiscal year, the City of Diamond Bar’s
governmental funds reported combined ending fund balances of
$63,183,166, an increase of $7,292,043 in comparison with the prior year.
Approximately $33.9 million of the $63.2 million is available for spending at
the City’s discretion, including amounts assigned and committed by city
council action.
At the end of the current fiscal year, the Unassigned Fund Balance of the
General Fund was $22,959,067 which represents a 16.8% increase from the
prior year amount of $19,658,823. The Unassigned Fund Balance of
$22,959,067 is in addition to a $7,981,243 reserve for
emergencies/contingencies as established by Council resolution and
$1,308,920 committed to capital projects for City parks and facilities.
In June 2022 the City received $3.4 million of American Rescue Plan Act
funds. This is the second of two equal advances the City received, with the
first installment received in June 2021. The funds received in June 2022 were
recognized as revenue and expensed by the City in fiscal year 2023 to
address the fiscal impacts created by the COVID-19 pandemic.
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OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis are intended to serve as an introduction to the
City of Diamond Bar’s basic financial statements. The City of Diamond Bar’s basic
financial statements comprise three components: 1) government-wide financial
statements, 2) fund financial statements, and 3) notes to the financial statements.
This report also contains other supplementary information in addition to the basic
financial statements themselves.
Government-wide financial statements – The Government–wide Financial
Statements are designed to provide readers with a broad overview of the
City of Diamond Bar’s finances, in a manner similar to a private-sector business.
The Statement of Net Position presents financial information on all of the
City of Diamond Bar’s assets, liabilities and deferred inflows/outflows of resources
with the difference reported as net position. Over time, increases or decreases in
net position may serve as a useful indicator of whether the financial position of
the City of Diamond Bar is improving or deteriorating.
The Statement of Activities presents information showing how the City’s net
position changed during the most recent fiscal year. All changes in net position
are reported as soon as the underlying event giving rise to the change occurs,
regardless of the timing of related cash flows. Thus, revenues and expenses are
reported in this statement for some items that will only result in cash flows in future
fiscal periods (e.g., uncollected taxes and earned but unused vacation leave).
Both of the government-wide financial statements distinguish functions of the
City of Diamond Bar that are principally supported by taxes and
intergovernmental revenues (governmental activities) from other functions that
are intended to recover all or a significant portion of their costs through user fees
and charges (business-type activities). The governmental activities of the City of
Diamond Bar include general government, public safety, highways and streets,
community development, and parks and recreation. The City of Diamond Bar
currently has no business-type activities or enterprise funds.
The government-wide financial statements include not only the City of Diamond
Bar itself, but also a legally separate financing authority. Although legally
separate, the Diamond Bar Public Financing Authority is included because the
City is financially accountable for it.
Fund Financial Statements – A fund is a grouping of related accounts that is used
to maintain control over resources that have been segregated for specific
activities or objectives. The City of Diamond Bar, like other state and local
governments, uses fund accounting to ensure and demonstrate compliance with
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finance-related legal requirements. All of the funds of the City can be divided
into three categories: governmental funds, proprietary funds and fiduciary funds.
Governmental Funds – Governmental funds are used to account for essentially
the same functions reported as governmental activities in the government-wide
financial statements. However, unlike the government-wide financial statements,
governmental fund financial statements focus on near-term inflows and outflows
of spendable resources available at the end of the fiscal year. Such information
may be useful in assessing the near-term financing requirements necessary to
finance City programs. A reconciliation to facilitate a comparison between
governmental funds and governmental activities is located on page 25 of the
financial statements.
Because the focus of governmental funds is narrower than that of the
government-wide financial statements, it is useful to compare the information
presented for governmental funds with similar information presented for
governmental activities in the government-wide financial statements. By doing
so, readers may better understand the long-term impacts of the City’s near-term
financing decisions. The governmental funds balance sheet can be found on
page 22 of the financial statements, and the governmental funds statement of
revenues, expenditures, and changes in fund balances can be found on page 24
of the financial statements.
The City of Diamond Bar adopts an annual appropriated budget for its general
fund. A budgetary comparison statement has been provided for the general fund
to demonstrate compliance with this budget on page 58.
Proprietary Funds – The type of proprietary funds that the City maintains are
internal service funds that are used to allocate costs internally among the various
functions of the City. The City of Diamond Bar uses these funds to account for its
liability insurance costs and vehicle, building and computer maintenance and
replacement costs. Because these services predominantly benefit governmental
rather than business-type functions, they have been included within
governmental activities within the government-wide financial statements.
Notes to the Financial Statements – The notes provide additional information that
is essential to a full understanding of the data provided in the government-wide
and fund financial statements.
Other Information – In addition to the basic financial statements and
accompanying notes, this report also presents certain required supplementary
information concerning the City’s budgetary control and accounting and
expenditures in excess of appropriations.
7
GOVERNMENT-WIDE FINANCIAL ANALYSIS
City-wide Statement of Net Position – The Statement of Net Position is intended to
measure an agency’s financial health at the end of the fiscal year. The “net
position” is the net of the agency’s total assets and its total liabilities. At
June 30, 2023, the City of Diamond Bar’s net position (total assets and deferred
outflows less total liabilities and deferred inflows) was $394.7 million (see Table 1).
By far the largest portion of the City’s net position (84%) is its investment in capital
assets (e.g., land, buildings, infrastructure, machinery, equipment, and
construction in progress), net of the related outstanding debt used to acquire
those assets. The City of Diamond Bar uses these capital assets to provide services
to its citizens; consequently, these assets are not available for future spending.
Although the City’s investment in its capital assets is reported net of related debt,
it should be noted that the resources needed to repay this debt must be provided
from other sources, since the capital assets themselves cannot be used to
liquidate these liabilities. As shown in Table 1 below, the City’s investment in
capital assets (net of related debt) decreased by approximately $1.4 million,
which was a result of $7.7 million in depreciation expense, additional investments
of $6.9 million, and an increase in liabilities used to finance the capital assets of
$0.6 million.
The City’s total liabilities grew by $4.3 million due largely to an increase in net
pension liability in the amount of $4.9 million; this amount fluctuates with the
annual returns of CalPERS and after a significant decline in the previous year is
now closer to historic levels. The City’s restricted net position increased by
$3.1 million from last year. This is due to a combination of factors, including the
unspent portion of restricted revenues received in special revenue funds. These
funds are either accumulated to fund large capital projects or take several years
to fully expend.
8
Table 1
CITY OF DIAMOND BAR
Statement of Net Position
The unrestricted portion of the total net position represents those funds the City
can use at its sole discretion. This portion is often looked at when evaluating a
city’s financial health. The unrestricted net position increased by $5.3 million. This
is due to several factors, including the use of ARPA revenues which help generate
a surplus of funds, and the intentional accumulation of reserves for various city
purposes pursuant to the City’s reserve policy.
Changes in Net Position – Although the Statement
of Net Position discussed above is an important
measure of financial health, it is only at a specific
point in time. A more useful measure is how the
City’s financial position is changing over time.
Table 2 below present a summary of the City’s
change in net position from the prior year, and the
specific revenue and expenditure performance
that caused the change.
Overall, the City ended the year with an increase to its net position of $7.1 million.
This is a substantial increase from the $5.4 million in the prior year. The General
Fund contributed a meaningful portion to the overall increase in net position, with
2023 2022
Current and other assets 78,576,175$ 72,267,493$
Capital assets 339,594,656 340,434,601
Total Assets 418,170,831 412,702,094
Deferred Outflows 4,236,969 2,152,283
Current liabilities 9,237,421 9,449,360
Noncurrent liabilities 15,633,771 12,150,302
Total Liabilities 24,871,192 21,599,662
Deferred Inflows 2,789,261 5,565,288
Net Position:
Net investment in capital ass 331,607,485 332,972,933
Restricted 29,308,342 26,205,130
Unrestricted 33,831,520 28,511,364
Total Net Position 394,747,347$ 387,689,427$
Governmental Activities
9
revenues rebounding strong in various categories, such as charges for service,
property taxes (mainly supplemental and unsecured property taxes), sales tax,
use of money & property, and transient occupancy tax. Total revenues for all
Governmental Activities were $44.5 million. Expenses across all Governmental
Activities totaled $37.4 million. Many of the reasons leading to these results have
already been discussed, but some of the more notable factors are discussed
below.
Table 2
CITY OF DIAMOND BAR
Changes in Net Position
2023 2022
Revenues:
Program Revenues:
Charges for services 7,983,986$ 7,147,094$
Opearting grants and contributions 9,630,820 9,745,284
Capital grants and contributions 853,518 -
General Revenues:
Property taxes 13,650,877 12,814,147
Transient occupancy taxes 1,462,904 1,359,842
Sales taxes 6,598,953 6,127,593
Franchise fees 1,687,104 1,308,250
Other taxes 1,540,855 1,400,481
Motor vehicle in lieu 56,347 65,523
Use of money & property 863,861 (895,646)
Other 166,330 136,203
Total Revenues 44,495,555 39,208,771
Expenses
General government 8,377,284 7,210,304
Public safety 8,149,425 7,993,744
Community development 3,663,339 2,579,271
Parks & recreation 4,481,255 3,903,018
Public works 12,621,030 11,641,746
Interest and fiscal charges 145,302 192,897
Total Expenses 37,437,635 33,520,980
Increase (Decrease) in net position 7,057,920 5,687,791
Net position - beginning 387,689,427 382,297,929
Restatement of net position - (296,293)
Net Position - ending 394,747,347$ 387,689,427$
Governmental Activities
10
Revenues
As show in Table 2 above, total revenues on a citywide basis were $44.5 million.
This is approximately $5.3 million higher than last year. The bedrock of our revenue
growth lies in the impressive 7% expansion across three crucial areas—property
tax, sales tax, and transient occupancy tax (TOT). This growth signifies the
economic vibrancy and increased activity within the City.
Throughout the year, revenues from the use of money & property demonstrated
remarkable improvement, ending the year with a net increase of $1.8 million. This
rebound can be primarily attributed to the prevailing increase in interest rates,
showcasing the responsiveness of the City’s actively managed investment
portfolio to market dynamics. It should be noted that total revenue from the use
of money and property of $863,861 reflects total investment earnings of
$2.03 million net of unrealized losses in the amount of -$1.17 million; losses which
would only be realized were the portfolio liquidated at current market valuations
(as of June 30, 2023).
Fiscal
Year
Interest Earnings
(millions)
YoY
Growth
Unrealized
Gain/(Loss)
(millions)
YoY
Growth Total
2022 0.54$ 14.8% (1.44)$ 313.3% (0.90)$
2023 2.03 275.9% (1.17) -18.5% 0.86
Year-Over-Year Change
Use of Money & Property
11
Expenses
The FY 2023 budget was developed with the intention of restoring programs and
services across the organization, in particular in the General Fund. As such, fiscal
year budgeted and actual expenditures were higher in FY 2023 than in FY 2022.
Specifically, the FY 2023 General Fund budget totaled $32.8 million compared to
the FY 2022 revised budget of $30.5 million.
In addition to restoring programs and services, the City also increased its capital
improvement program. In FY 2021, the City had to scale back its capital program
due to reduced revenues largely tied to the pandemic. In FY 2022, the City’s
capital program increased from $3.5 million to $7.5 million. In FY 2023, the City’s
capital program increased from $7.5 million to $16.0 million. While much of the
funding comes from grants and other restricted revenues, the growth nonetheless
helps explain the increase in the overall spending that occurred generally
throughout all categories.
Reserves
In 2011 the City Council adopted Resolution No. 2011-26 establishing policies
related to fund balance and reserves. These policies were amended in August of
2019 with the adoption of Resolution No. 2019-36. In general, reserves are
intended to serve a variety of goals and purposes. One of the key reserves set
forth in the City’s reserve policies is for emergencies, such as natural disasters
(earthquakes, flooding, wildfires, etc.), or unexpected events and circumstances
that impact the City’s finances. The recent global pandemic is an excellent
example of this. Another purpose of reserves is to set aside funds for the
12
replacement of equipment, vehicles, facilities, and other capital needs. The
accumulation of such funds over time minimizes the financial burden and impacts
of funding these types of capital items, which often are very expensive, in a single
year.
The degree to which a city has set aside reserves for the purposes noted above is
an important measure of a city’s financial health. To that end, the City’s reserve
policies establish the following reserves:
1. Contingency Reserve – No less than 25% of the adopted budget General
Fund expenditures to provide for economic uncertainties, local
emergencies or disasters, and other financial hardships or downturns in the
local economy, including unforeseen operating or capital needs and cash
flow requirements.
2. Other Post-Employment Benefit (OPEB) Reserve Fund – To cover the
projected cost of future retiree benefits, the City will maintain a reserve so
that the combined amount of the reserve and funds held in an OPEB trust
are no less than 80% of the total OPEB liability based on the most recent
actuarial valuation.
3. Building Facility and Maintenance Fund – The City will make annual
contributions to this fund from the General Fund of no less than $100,000 to
provide for the future replacement of systems and equipment at City Hall,
the Diamond Bar Center, and other City buildings and facilities. In addition,
the City will transfer 40% of the General Fund year-end surplus after funding
the other reserves described in this section.
4. Vehicle Maintenance and Replacement Fund – To provide funding for the
timely replacement of vehicles and related equipment with an individual
cost of $10,000 or more, the City will annually make a contribution from its
General Fund to the Vehicle Maintenance and Replacement Fund equal
to its estimated operating costs plus depreciation net of any interest
earnings and proceeds from the sale of assets.
5. Technology Reserve Fund – The City will maintain a technology reserve fund
to accumulate funds for the replacement of essential technology systems
and equipment. The annual contribution from the General Fund will be no
less than $100,000.
6. Park Development Fund – This fund provides for the development and
enhancement of the City’s parks and facilities. The City will transfer 40% of
the General Fund year-end surplus after funding the other reserves
described in this section.
13
The aforementioned reserves are listed below in Table 3 along with other
highlighted reserves.
See footnote 11 for more information on fund balances.
Table 3
CITY OF DIAMOND BAR
Changes in Reserves
The most striking thing to note from Table 3 above is that total reserves, as set forth
in the City’s reserve policies, increased by $6,015,373 (or 18.0%) to a total of $39.6
million. It is important to note that all of these individual reserves, including those
in other funds, ultimately derive from the General Fund, either from the allocation
of year-end surpluses or annual contributions pursuant to the reserve policies
summarized earlier.
2023 2022 Change
General Fund
Committed Reseves
Contingency Reserve 7,981,243$ 7,864,770$ 116,473$
Assigned Reseves
Community organization support 2,062 - 2,062$
OPEB Reserve 291,182 353,283 (62,101)
Technology Reserve 591,346 442,418 148,928
Capital Improvement Projects 1,308,920 - 1,308,920
Tres Hermanos Conservancy Reserve 6,910 20,726 (13,816)
General Plan Update Reserve 518,504 929,558 (411,054)
Law Enforcement Reserve 941,362 957,126 (15,764)
Unassigned Reserve 22,959,067 19,658,823 3,300,244
Total General Fund 34,600,596 30,226,704 4,373,892
Park Development Fund
Park and Facility Reserve 1,567,641 873,636 694,005
Vehicle Maintenance & Replacement Fund
Maintenance & Replacement Reserve 316,864 230,973 85,891
Building Maintenance & Replacement Fund
Maintenance & Replacement Reserve 1,062,451 1,164,608 (102,157)
Computer Equipment Replacement Fund
Equipement Replacement Reserve 2,032,428 1,068,686 963,742
Grand Totals 39,579,980$ 33,564,607$ 6,015,373$
Fiscal Year Ended June 30,
14
FUND FINANCIAL ANALYSIS
As noted earlier the City of Diamond Bar uses fund accounting to ensure and
demonstrate compliance with finance-related legal requirements. These are
presented starting on page 23 of the financial statements.
Governmental funds - The focus of the City of Diamond Bar’s governmental funds
is to provide information on near-term inflows, outflows, and balances of
spendable resources. Such information is useful in assessing the City’s financing
requirements. In particular, unassigned fund balance may serve as a useful
measure of a city’s net resources available for spending at the end of the fiscal
year.
At June 30, 2023, the City of Diamond Bar’s governmental funds reported
combined ending fund balances of $63.2 million, an increase of $7.3 million in
comparison with the prior year. Approximately 35% of this amount ($22,233,273)
constitutes unassigned fund balances, which is available for spending at the
government’s discretion. The remainder of the fund balance is either restricted for
particular purposes ($29,308,364), committed to contingencies per City policy
($7,981,243), or assigned to a specific purpose ($3,660,286). The balance sheet for
governmental funds is presented on page 22 of the financial statements.
The General Fund, which is included as a governmental fund, is the main
operating fund of the City. It is where most traditional services associated with
local government, including public safety, recreation, development services,
economic development, and public works. The services are funded primarily from
unrestricted tax revenues, such as taxes and charges for services. At the end of
the 2023 fiscal year, the unassigned fund balance of the General Fund was
approximately $23 million, while the total fund balance was $34.6 million; this
represents an increase of $4.4 million in total fund balance from last year. The
factors leading to this increase are largely the same as those discussed above for
the City as a whole, including, the use of ARPA revenues, and the strong
performance in sales tax and TOT revenues.
As a measure of the General Fund’s liquidity, it may be useful to compare both
unassigned fund balance and total fund balance to total fund expenditures.
Unassigned fund balance represents 79% of total General Fund expenditures,
including transfers out, while total fund balance represents 119% of the same
amount.
15
Weathering the Storm of the COVID-19 Pandemic
In retrospect, this past fiscal year stands as a testament to our collective resilience
in navigating the unprecedented challenges posed by the global pandemic. The
uncertainties and disruptions stemming from this period tested our organization’s
ability to adapt when faced with extreme adversity. Yet, our city emerged from
the pandemic stronger, and our commitment to financial stability and strategic
management has shone through.
The continued growth in property tax, sales tax, and transient occupancy tax
(TOT) revenues, coupled with prudent investments and fiscal policies,
strengthened our financial position as the City exited the pandemic; for these
reasons the City continues to stand as a beacon of economic strength in our
region. It is management’s belief that the detailed financial statements that follow
reflect this collective dedication to the ongoing well-being and prosperity of the
Diamond Bar community.
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital assets - The City of Diamond Bar’s investment in capital assets for its
governmental activities as of June 30, 2023 amounts to $339.6 million (net of
accumulated depreciation). This investment in capital assets includes land, right
of way, buildings and improvements, furniture and fixtures, vehicles and
equipment, infrastructure and construction in progress.
Table 4
CITY OF DIAMOND BAR
Capital Assets (net of depreciation)
The City’s capital assets decreased in value by approximately $0.8 million during
fiscal year 2023. This decrease was due primarily to depreciation expense totaling
almost $7.7 million, offset by an increase in construction in progress and other
capital assets of $6.9 million.
Fiscal Year Fiscal Year
2023 2022
Land 6,369,506 6,369,506$
Right of way 265,614,104 265,614,104
Intangible assets 694,050 -
Buildings and improvements 8,885,017 9,214,069
Furniture and fixtures - 743
Vehicles & equipment 523,103 1,455,230
Infrastructure 54,616,096 55,727,592
Constuction in progress 2,892,780 2,053,357
Totals 339,594,656$ 340,434,601
16
Construction in progress at the end of the year included projects in various stages
of design or construction. Virtually all of the $2.9 million of construction in progress
relates to streets improvement projects, including both residential and arterial
roadways.
See footnote 4 for more information on capital assets.
Long-term debt – At the end of the current fiscal year, the City of Diamond Bar’s
total long-term debt totaled $6,820,543, which includes outstanding bonds
payable and accrued compensated absences as shown in Table 5 below.
Table 5
CITY OF DIAMOND BAR
Outstanding Long-Term Debt
In June 2021 the City issued the 2021 Lease Revenue Refunding Bonds to
refinance the 2002 Lease Revenue Bonds. The 2002 bonds were originally issued
to finance the construction of a community/senior center (the Diamond Bar
Center) and other public improvements. The refunding, which capitalizes on
historically low interest rates, will result in a savings of $1,736,355 over the remaining
life of the bonds.
In addition to the bonds, city employees have accrued leave time (sick and
vacation) totaling $1,005,543 as of June 30, 2023. This liability is primarily paid out
as time off or the use of sick time and to this extent does not result in an increase
in costs.
See footnote 5 for more information on long-term debt.
Fixed Rate 2021 Lease Revenue Refunding Bonds
(backed by the Public Financing Authority) 5,815,000$
Compensated Absences 1,005,543
Total 6,820,543$
At June 30, 2023
17
ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND RATES
The Adopted FY 2023/24 Budget incorporates a positive outlook and continues to
expand many City programs and services, advance deferred maintenance and
capital improvement projects, and focuses on key initiatives consistent with the
City's Long-Term Financial Stability Report and recently adopted 2024-2027
Strategic Plan. The proposed Capital Improvement Program totals $12.0 million in
new projects for FY 2023/24 and includes many projects that were in the design
phase in FY 2022/23 which will now move to the construction phase in FY 2023/24.
The FY 2023/24 Adopted Budget also includes the use of General Fund
Undesignated Reserves in the amount of $1.3 million for one-time projects and
programs, $1.1 million of which is for capital improvement projects.
Similarly, the revenue outlook is reasonably optimistic, with growth in key General
Fund revenues—including property taxes, sales taxes, TOT— and other taxes
expected to be moderate and in line with historic and pre-pandemic growth
rates.
CONTACTING THE CITY’S FINANCIAL MANAGEMENT TEAM
This financial report is designed to provide our citizens, taxpayers, customers, and
creditors with a general overview of the City of Diamond Bar’s finances and to
show the City’s accountability for the money it receives. If you have questions
about this report or need additional financial information, contact the City’s
Finance Department, at the City of Diamond Bar, 21810 Copley Drive, Diamond
Bar, California 91765.
18
THIS PAGE INTENTIONALLY LEFT BLANK
19
CITY OF DIAMOND BAR
Statement of Net Position
Governmental
Activities
Assets:
Cash and investments 72,156,901$
Receivables:
Accounts 2,376,104
Notes and loans 432,236
Accrued interest 329,746
Due from other governments 1,067,332
Restricted assets:
Cash with fiscal agent 1,561
Lease receivables 2,212,295
Capital assets not being depreciated 274,876,390
Capital assets, net of depreciation 64,718,266
Total Assets 418,170,831
Deferred Outflows of Resources:
Deferred pension related items 4,013,585
Deferred OPEB related items 223,384
Total Deferred Outflows of Resources 4,236,969
Liabilities:
Current liabilities:
Accounts payable 3,775,215
Accrued liabilities 536,804
Accrued interest 18,434
Unearned revenue 1,091,851
Deposits payable 2,534,665
Due to other governments 500,452
Compensated absences - due within one year 300,000
Bonds payable - due within one year 480,000
Noncurrent liabilities:
Compensated absences - due in more than one year 705,543
Bonds payable - due in more than one year 6,409,244
Net pension liability - due in more than one year 7,903,769
Net OPEB liability - due in more than one year 615,215
Total Liabilities 24,871,192
Deferred Inflows of Resources:
Deferred pension related items 389,526
Deferred OPEB related items 187,440
Deferred lease related items 2,212,295
Total Deferred Inflows of Resources 2,789,261
Net Position:
Net investment in capital assets 331,607,485
Restricted for:
Community development projects 4,435,781
Public safety 366,818
Public works 21,761,109
Capital projects 2,743,073
Debt service 1,561
Unrestricted 33,831,520
Total Net Position 394,747,347$
June 30, 2023
See Notes to Financial Statements.20
CITY OF DIAMOND BAR
Statement of Activities
Year Ended June 30, 2023
Operating Capital
Charges for Contributions Contributions Governmental
Expenses Services and Grants and Grants Activities
Functions/Programs
Primary Government:
Governmental Activities:
General government 8,377,284$ 114,485$ 4,160,007$ -$ (4,102,792)$
Public safety 8,149,425 383,058 203,960 - (7,562,407)
Community development 3,663,339 2,450,481 293,720 - (919,138)
Parks and recreation 4,481,255 1,583,261 - - (2,897,994)
Public works 12,621,030 3,452,701 4,973,133 853,518 (3,341,678)
Interest on long-term debt 145,302 - - - (145,302)
Total Primary Government 37,437,635$ 7,983,986$ 9,630,820$ 853,518$ (18,969,311)
General Revenues:
Taxes:
Property taxes, levied for general purpose 13,650,877
Transient occupancy taxes 1,462,904
Sales taxes 6,598,953
Franchise taxes 1,687,104
Other taxes 1,540,855
Motor vehicle in lieu - unrestricted 56,347
Use of money and property 863,861
Other 166,330
Total General Revenues 26,027,231
Change in Net Position 7,057,920
Net Position at Beginning of Year 387,689,427
Net Position at End of Year 394,747,347$
Net (Expenses)
Revenue and
Changes in Net
Position Program Revenues
See Notes to Financial Statements.21
CITY OF DIAMOND BAR
Balance Sheet
Governmental Funds
June 30, 2023
Special
Revenue
Funds
Capital
Projects
Funds
Other Total
Governmental Governmental
General Funds Funds
Assets:
Pooled cash and investments 37,932,326$ 8,091,761$ 612,824$ 21,052,262$ 67,689,173$
Receivables:
Accounts 2,144,041 - - 232,063 2,376,104
Notes and loans - - - 432,236 432,236
Accrued interest 329,746 - - - 329,746
Lease receivables 2,212,295 - - - 2,212,295
Due from other governments 18,290 - 307,468 672,486 998,244
Due from other funds 276,296 - - - 276,296
Restricted assets:
Cash and investments with fiscal agents - - - 1,561 1,561
Total Assets 42,912,994$ 8,091,761$ 920,292$ 22,390,608$ 74,315,655$
Liabilities, Deferred Inflows of Resources,
and Fund Balances:
Liabilities:
Accounts payable 2,200,427$ -$ 1,097,927$ 355,839$ 3,654,193$
Accrued liabilities 500,001 - - 36,803 536,804
Unearned revenues 854,070 - - 237,781 1,091,851
Deposits payable 2,534,665 - - - 2,534,665
Due to other governments - - - 451,378 451,378
Due to other funds - - - 276,296 276,296
Total Liabilities 6,089,163 - 1,097,927 1,358,097 8,545,187
Deferred Inflows of Resources:
Unavailable revenues 10,940 - 307,468 56,599 375,007
Deferred inflows lease related 2,212,295 - - - 2,212,295
Total Deferred Inflows of Resources 2,223,235 - 307,468 56,599 2,587,302
Fund Balances:
Restricted for:
Community development projects - - - 4,435,803 4,435,803
Public safety - - - 366,818 366,818
Highways and streets - 8,091,761 - 13,669,348 21,761,109
Capital Projects - - - 2,743,073 2,743,073
Debt service - - - 1,561 1,561
Committed to:
Emergency contingencies 7,981,243 - - - 7,981,243
Assigned to:
Community organization support 2,062 - - - 2,062
Other Post Employment Benefits (OPEB)291,182 - - - 291,182
Technology Reserve 591,346 - - - 591,346
Capital improvement projects 1,308,920 - - - 1,308,920
Tres Hermanos Conservancy 6,910 - - - 6,910
General Plan Update 518,504 - - - 518,504
Law Enforcement Reserve 941,362 - - - 941,362
Unassigned
Unassigned Reserve 22,959,067 - (485,103) (240,691) 22,233,273
Total Fund Balances 34,600,596 8,091,761 (485,103) 20,975,912 63,183,166
Total Liabilities, Deferred Inflows of
Resources, and Fund Balances 42,912,994$ 8,091,761$ 920,292$ 22,390,608$ 74,315,655$
Traffic
Improvement
Fund
Capital
Improvement
Fund
See Notes to Financial Statements.22
CITY OF DIAMOND BAR
Reconciliation of the Balance Sheet of Government Funds
to the Statement of Net Position
June 30, 2023
Fund balances of governmental funds 63,183,166$
Amounts reported for governmental activities in the statement of net position are
different because:
Capital assets net of depreciation have not been included as financial resources
in governmental fund activity.338,684,655
Deferred outflows related to pension items:
Adjustments due to difference in proportions 439,481$
Net difference between project and actual earnings on pension plan investments 1,447,761
Difference between expected and actual experiences 158,723
Change in assumptions 809,907
1,157,713 4,013,585
Deferred outflows related to OPEB:
Differences between expected and actual experience 3,909
Change in assumptions 160,886
Net difference between projected and actual experience 58,589 223,384
Long-term debt, compensated absences, other post employee benefit obligation
and net pension liability that have not been included in the governmental fund
activity:
Bonds payable (5,815,000)
Unamortized bond premiums (1,074,244)
Compensated Absences (1,005,543)
Net OPEB liability (615,215)
Net pension liability (7,903,769) (16,413,771)
Accrued interest payable for the current portion of interest due on
bonds has not been reported in the governmental funds.(18,434)
Deferred inflows related to pension items:
Difference between expected and actual experiences (106,306)
net pension liability.(283,220) (389,526)
Deferred inflows related to OPEB:
Net differences between projected and actual return investments (187,440) (187,440)
Revenues reported as unavailable revenue in the governmental funds and recognized
in the statement of activities. These are included in the intergovernmental revenues
in the governmental fund activity.375,007
Internal service funds are used by management to charge the costs of certain
activities, such as equipment management and self-insurance, to individual funds.
The assets and liabilities of the internal service funds must be added to the
statement of net position.5,276,721
Net Position of Governmental Activities 394,747,347$
Current year contributions that occurred after the measurement date
Change in employer's proportion and differences between the employer's
contributions and the employer's proportionate share of contributions
See Notes to Financial Statements.23
CITY OF DIAMOND BAR
Statement of Revenues,
Expenditures and Changes in Fund Balances
Governmental Funds
Year Ended June 30, 2023
Capital
Projects
Funds
Other Total
Governmental Governmental
General Funds Funds
Revenues:
Taxes 16,445,551$ -$ -$ 1,262,383$ 17,707,934$
Licenses and permits 2,275,281 - - 132,048 2,407,329
Intergovernmental 10,712,016 853,518 28,312 9,500,430 21,094,276
Charges for services 1,593,826 - - 703,715 2,297,541
Use of money and property 498,274 93,594 - 235,182 827,050
Fines and forfeitures 383,058 - - - 383,058
Miscellaneous 184,345 - 1,559 16,181 202,085
Total Revenues 32,092,351 947,112 29,871 11,849,939 44,919,273
Expenditures:
Current:
General government 7,020,328 - - 2,114 7,022,442
Public safety 8,144,825 - - 4,600 8,149,425
Community development 2,870,494 - - 652,393 3,522,887
Parks and recreation 1,941,947 - - 25,282 1,967,229
Public works 5,148,020 - - 2,255,704 7,403,724
Capital outlay - - 6,795,028 115,262 6,910,290
Debt service:
Principal retirement - - - 465,000 465,000
Interest and fiscal charges - - - 254,200 254,200
Total Expenditures 25,125,614 - 6,795,028 3,774,555 35,695,197
Excess (Deficiency) of Revenues
Over (Under) Expenditures 6,966,737 947,112 (6,765,157) 8,075,384 9,224,076
Other Financing Sources (Uses):
Transfers in 1,261,764 - 6,410,629 825,058 8,497,451
Transfers out (3,854,609) - - (6,574,875) (10,429,484)
Total Other Financing Sources
(Uses)(2,592,845) - 6,410,629 (5,749,817) (1,932,033)
Net Change in Fund Balances 4,373,892 947,112 (354,528) 2,325,567 7,292,043
Fund Balances, Beginning of Year 30,226,704 7,144,649 (130,575) 18,650,345 55,891,123
Fund Balances, End of Year 34,600,596$ 8,091,761$ (485,103)$ 20,975,912$ 63,183,166$
Special
Revenue
Funds
Traffic
Improvement
Fund
Capital
Improvement
Fund
See Notes to Financial Statements.24
CITY OF DIAMOND BAR
Reconciliation of the Statement of Revenues, Expenditures,
and Changes in Fund Balances of Governmental Funds
to the Statement of Activities
Year Ended June 30, 2023
Net change in fund balances - total governmental funds 7,292,043$
Amounts reported for governmental activities in the statement of activities are
different because:
Governmental funds report capital outlays as expenditures. However, in the statement
of activities, the costs of those assets is allocated over their estimated useful lives
as depreciation expense. This is the amount by which capital outlays exceeded
depreciation in the current period.
Capital Expenditures 6,827,804$
Depreciation Expense (7,494,758) (666,954)
Repayment of bond principal is an expenditure in the governmental funds, but the
repayment reduces long-term liabilities in the statement of net position.
Principal payment 465,000
Amortization of bond premium 107,424
Compensated Absences (62,618) 509,806
Accrued interest for long-term liabilities. This is the net change in accrued interest
for the current period.1,474
Pension contributions are expenditures in the governmental funds, but reduce
the Net Pension Liability in the statement of net position and changes in the
Net Pension Liability are expensed in statement of activities.(313,518)
OPEB contributions are expenditures in the governmental funds, but reduce
the Net OPEB Liability on the statement of net position and changes in the
Net OPEB Liability are expensed in the statement of activities.(15,897)
Revenues reported as unavailable revenue in the governmental funds and recognized
in the statement of activities. These are included in the intergovernmental revenues
in the governmental fund activity.(479,830)
Compensated absences - due within one year
Bonds payable - due within one year
The net revenues (expenses) of the internal service funds is reported with
governmental activities.730,796
Change in Net Position of Governmental Activities 7,057,920$
See Notes to Financial Statements.25
CITY OF DIAMOND BAR
Statement of Net Position
Proprietary Funds
June 30, 2023
Governmental
Activities-
Internal
Service Funds
Assets:
Current:
Cash and investments 4,467,728$
Due from other governments 69,088
Total Current Assets 4,536,816
Noncurrent:
Capital assets - net of accumulated depreciation 910,001
Total Noncurrent Assets 910,001
Total Assets 5,446,817$
Liabilities and Net Position:
Liabilities:
Current:
Accounts payable 121,022$
Due to other governments 49,074
Total Current Liabilities 170,096
Total Liabilities 170,096
Net Position:
Invested in capital assets 910,001
Unrestricted 4,366,720
Total Net Position 5,276,721
Total Liabilities and Net Position 5,446,817$
See Notes to Financial Statements.
26
CITY OF DIAMOND BAR
Statement of Revenues, Expenses
and Changes in Fund Net Position
Proprietary Funds
Year Ended June 30, 2023
Governmental
Activities-
Internal
Service Funds
Operating Expenses:
Insurance premiums 510,516$
Equipment repair and maintenance 518,408
Depreciation expense 228,425
Total Operating Expenses 1,257,349
Operating Income (Loss)(1,257,349)
Nonoperating Revenues (Expenses):
Interest revenue 36,811
Contributions 19,301
Total Nonoperating
Revenues (Expenses)56,112
Income (Loss) Before Transfers (1,201,237)
Transfers in 1,997,033
Transfers out (65,000)
Changes in Net Position 730,796
Net Position:
Beginning of Year 4,545,925
End of Fiscal Year 5,276,721$
See Notes to Financial Statements.
27
CITY OF DIAMOND BAR
Statement of Cash Flows
Proprietary Funds
Year Ended June 30, 2023
Governmental
Activities-
Internal
Service Funds
Cash Flows from Operating Activities:
Insurance premiums paid (510,516)$
Payments to suppliers (405,780)
Net Cash Provided (Used) by Operating Activities (916,296)
Cash Flows from Non-Capital
Financing Activities:
Cash transfers out (65,000)
Cash transfers in 1,997,033
Net Cash Provided (Used) by
Non-Capital Financing Activities 1,932,033
Cash Flows from Capital
and Related Financing Activities:
Acquisition and construction of capital assets (55,434)
Net Cash Provided (Used) by
Capital and Related Financing Activities (55,434)
Cash Flows from Investing Activities:
Interest Paid 36,811
Net Cash Provided (Used) by
Investing Activities 36,811
Net Increase (Decrease) in Cash
and Cash Equivalents 997,114
Cash and Cash Equivalents at Beginning of Year 3,470,614
Cash and Cash Equivalents at End of Year 4,467,728$
Reconciliation of Operating Income to Net Cash
Provided (Used) by Operating Activities:
Operating income (loss)(1,257,349)$
Adjustments to Reconcile Operating Income (Loss)
Net Cash Provided (Used) by Operating Activities:
Depreciation 228,425
Increase (decrease) in accounts payable 112,628
Total Adjustments 341,053
Net Cash Provided (Used) by
Operating Activities (916,296)$
See Notes to Financial Statements.
28
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES
A. Description of Reporting Entity
The City of Diamond Bar (the City) was incorporated April 18, 1989, as a "General Law” City governed by an elected
five-member city council. As required by accounting principles generally accepted in the United States of America,
these financial statements present the City of Diamond Bar (the primary government) and its component units. The
component units discussed below are included in the City's reporting entity because of the significance of their
operational or financial relationship with the City. These entities are legally separate from each other. However, the
City of Diamond Bar's elected officials have a continuing full or partial accountability for fiscal matters of the other
entities. The financial reporting entity consists of: (1) the City (2) organizations for which the City is financially
accountable; and, (3) organizations for which the nature and significance of their relationship with the City are such
that exclusion would cause the City's financial statements to be misleading or incomplete.
An organization is fiscally dependent on the primary government if it is unable to adopt its budget, levy taxes or set
rates or charges, or issue bonded debt without approval by the primary government. In a blended presentation, a
component unit’s balances and transactions are reported in a manner similar to the balances and transactions of
the City. Component units are presented on a blended basis when the component unit’s governing body is
substantially the same as the City's or when the component unit provides services almost entirely to the City.
Blended Component Units
The Diamond Bar Public Financing Authority (the Authority) was formed on November 19, 2002. The purpose of
the Authority is to issue debt to finance public improvements and other capital purchases for the City and Agency.
The activity of the Authority is reported in debt service and capital projects funds. Separate financial statements are
not prepared for this blended component unit.
B. Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of changes in net
position) report information on all of the nonfiduciary activities of the City. For the most part, the effect of interfund
activity has been removed from these statements. Governmental activities, which normally are supported by taxes
and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant
extent on fees and charges for support. The City has no business-type activities.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment
are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or
segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit
from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are
restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other
items not properly included among program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even
though the latter are excluded from the government-wide financial statements. Major individual governmental funds
are reported as separate columns in the fund financial statements.
C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The basic financial statements of the City are composed of the following:
Government-wide financial statements
Fund financial statements
Notes to basic financial statements
29
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
The government-wide financial statements, proprietary fund and fiduciary fund financial statements are reported
using the economic resources measurement focus and the accrual basis of accounting. Under the economic
resources measurement focus, all assets and liabilities (current and long-term) are reported. Under the accrual
basis of accounting, revenues are recorded when earned and expenses are recorded when a liability is incurred,
regardless of the timing of related cash flows. Property taxes are recognized as revenues in the fiscal year, which
the taxes are levied. Revenue from grants, entitlements, and donations is recognized in the fiscal year in which all
the eligibility requirements imposed by the provider have been met.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and
expenses generally result from providing services and producing and delivering goods in connection with a
proprietary fund’s principal ongoing operations. The principal operating revenues of the City's internal service funds
are charges to departments for services. Operating expenses for the proprietary funds include the cost of services,
administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition
are reported as nonoperating revenues and expenses.
Governmental fund financial statements are reported using the current financial resources measurement focus and
the modified accrual basis of accounting. Under the current financial resources measurement focus, generally only
current assets and liabilities are reported in the governmental funds. Governmental fund operating statements
present increases (revenues and other financing sources) and decreases (expenditures and other financing uses)
in net current assets. Under the modified accrual basis of accounting, revenues are recognized as soon as they are
both measurable and available. Revenues are considered to be available when they are collectible within the current
period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers
revenues to be available if they are collected within 60 days of the end of the current fiscal year. Expenditures
generally are recorded when a liability is incurred, except for principal and interest on long-term liabilities, claims
and judgments, and compensated absences which are recognized as expenditures only when payment is due.
Property taxes, taxpayer-assessed taxes, such as sales taxes, gas taxes, and transient occupancy taxes, and
interest associated with the current fiscal period are all considered to be susceptible to accrual and have been
recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within
the current fiscal period is considered to be susceptible to accrual as revenue of the current period to the extent
normally collected within the availability period. All other revenue items are considered to be measurable and
available only when cash is received by the City.
The accounts of the City are organized and operated on the basis of funds, each of which is considered a separate
accounting entity with a self-balancing set of accounts, established for the purpose of carrying on specific activities
or attaining certain objectives in accordance with special regulations, restrictions or limitations.
As a general rule, the effect of Interfund activity has been eliminated from the government-wide financial statements.
Exceptions to this general rule are charges between the government’s proprietary funds functions and various other
functions of the government. Elimination of these charges would distort the direct costs and program revenues
reported for the various functions concerned.
Amounts reported as program revenues include 1) charges to customers or applicants for goods, services or
privileges provided, 2) operating contributions and grants, and 3) capital contributions and grants, including special
assessments. Internally dedicated resources are reported as general revenues rather than as program revenues.
Likewise, general revenues include all taxes.
When both restricted and unrestricted resources are combined in a fund, expenses are considered to be paid first
from restricted resources, and then from unrestricted resources.
30
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Fund Classifications
The City reports the following major governmental funds:
The General Fund is the primary operating fund of the City and is used to account for all revenues and expenditures
of the City not legally restricted as to use. A broad range of municipal activities are provided through this fund
including City Manager, City Attorney, Finance, City Clerk, Public Works, Building and Safety, and Parks and
Recreation.
The Traffic Improvement Fund is used to account for funds which have been received from development projects
and designated by the City Council for traffic mitigation projects.
The Capital Improvement Project Fund is used to account for improvements of construction of capital facilities.
The City's fund structure also includes the following fund types:
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted
or committed to expenditures for specified purposes.
Capital Projects Funds are used to account for and report financial resources that are restricted, committed, or
assigned to expenditure for capital outlays, including the acquisition or construction of capital facilities and
other capital assets.
Debt Service Funds are used to account for the receipt of revenues and payments of debt service related to
outstanding bonds.
Additionally, the City reports the following fund types:
Internal Service Funds have been established to finance and account for goods and services provided by one City
department to other City departments or agencies. These activities include self-insurance, equipment, building
maintenance and computer maintenance.
E. Investments
For financial reporting purposes, investments are stated at fair value.
Changes in fair value that occur during a fiscal year are recognized as investment income reported for that fiscal
year. Investment income includes interest earnings, changes in fair value, and any gains or losses realized upon
the liquidation or sale of investments.
The City pools cash and investments of all funds, except for assets held by fiscal agents. Each fund’s share in this
pool is displayed in the accompanying financial statements as cash and investments. Investment income earned
by the pooled investments is allocated to the various funds based on each fund's average cash and investment
balances.
F. Cash and Cash Equivalents
For purposes of the statement of cash flows, cash and cash equivalents are defined as short-term, highly liquid
investments that are both readily convertible to known amounts of cash or so near their maturity (an original maturity
date of three months or less from the date of purchase) that they present insignificant risk of changes in value
because of changes in interest rates. Cash and cash equivalents also represent the proprietary funds' share in the
cash and investment pool of the City. All cash and investments of the proprietary (internal service) funds are pooled
with the City's pooled cash and investments and are therefore considered cash equivalents for purposes of the
statement of cash flows.
31
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
G. Prepaid Costs
Prepaid costs are accounted for on the consumption method. Certain payments to vendors reflect costs applicable
to future accounting periods and are recorded as prepaid items in both government-wide and fund financial
statements.
H. Capital Assets
Capital assets (including infrastructure) are recorded at cost where historical records are available and at an
estimated original cost where no historical records exist. Contributed capital assets are valued at acquisition value
at the date of contribution. Capital asset purchases (other than infrastructure) in excess of $5,000 are capitalized if
they have an expected useful life of three years or more. Donated capital assets, donated works of art and similar
items, and capital assets received in a service concession arrangement are recorded at acquisition value at the
date of donation.
Capital assets include additions to public domain (infrastructure), certain improvements including roads, streets,
sidewalks, medians and storm drains within the City.
Capital assets used in operations are depreciated over their estimated useful lives using the straight-line method in
the Government-wide and Proprietary Fund Financial Statements. Depreciation is charged as an expense against
operations and accumulated depreciation is reported on the respective balance sheet.
The lives used for depreciation purposes of each capital asset class are:
Buildings and improvements 50 years
Furniture and fixtures 7 years
Vehicles 5 years
Infrastructure 10 - 50 years
Equipment 3 years
Intangible Assets are capitalized at cost related to the enterprise resource management system. Amortization has
been provided on a straight-line basis over the estimated useful life of 10 years.
I. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for deferred
outflows of resources. This separate financial statement element, deferred outflows of resources, represents a
consumption of net assets that applies to a future period(s) and so will not be recognized as an outflow of resources
(expense/ expenditure) until then. The City has two items that qualify for reporting in this category. It is deferred
outflows relating to the net pension obligation and net OPEB obligation reported in the government-wide statement
of net position. These outflows are the results of contributions made after the measurement period, adjustments
due to difference in proportions, and the difference between actual contributions made and the proportionate share
of the risk pool’s total contributions, differences between expected and actual experiences, net differences between
projected and actual experiences on plan investments, and change in assumptions.
32
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred
inflows of resources. This separate financial statement element, deferred inflows of resources, represents an
acquisition of net assets that applies to a future period(s) and thus will not be recognized as an inflow of resources
(revenue) until that time. The government has three items which arises under the modified accrual basis of
accounting that qualifies for reporting in this category. Accordingly, one item, unavailable revenue, is reported only
in the governmental funds balance sheet. The governmental funds report unavailable revenues from two sources:
taxes and grant revenues. These amounts are deferred and recognized as an inflow of resources in the period that
the amounts become available. In addition, the government has items that qualify for reporting in this category
which relate to deferred inflows relating to the net pension and net OPEB obligations reported in the
government-wide statement of net position. These inflows are the result of the net difference between projected
and actual earnings on plan investments, changes in employer’s proportion, difference between the employer’s
contributions and the employer’s proportionate share of contributions, adjustments due to difference in proportions,
differences between expected and actual experiences, and change in assumptions. Lastly, leases related items for
the amount of the lease receivable plus any lease payments related to future periods, less any lease incentives
paid to, or on behalf of, the lessee at or before the commencement of the lease term.
J. Net Position Flow Assumption
Sometimes the government will fund outlays for a particular purpose from both restricted (e.g., restricted bond or
grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted – net position
and unrestricted – net position in the government-wide and proprietary fund financial statements, a flow assumption
must be made about the order in which the resources are considered to be applied. It is the government’s policy to
consider restricted – net position to have been depleted before unrestricted – net position is applied.
K. Fund Balance Flow Assumptions
Sometimes the government will fund outlays for a particular purpose from both restricted and unrestricted resources
(the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as
restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements a flow
assumption must be made about the order in which the resources are considered to be applied. It is the
government’s policy to consider restricted fund balance to have been depleted before using any of the components
of unrestricted fund balance. Further, when the components of unrestricted fund balance can be used for the same
purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is
applied last.
L. Compensated Absences
Vacation and sick leave time begin to accumulate as of the first day of employment to a maximum of 360 hours and
480 hours, respectively. Employees who accumulate sick leave in excess of 200 hours may be compensated for
the excess up to 80 hours annually at one half the employees current wage rate.
A liability is recorded for unused vacation and similar compensatory leave balances since the employees'
entitlement to these balances are attributable to services already rendered and it is probable that virtually all of
these balances will be liquidated by either paid time off or payments upon termination or retirement.
A liability is recorded for unused sick leave balances only to the extent that it’s probable that the unused balances
will result in termination payments. This is estimated by including in the liability the unused balances of employees
currently entitled to receive termination payments, as well as those who are expected to become eligible to receive
termination benefits as a result of continuing their employment with the City.
If an employee retires, resigns, or terminates in good standing with a minimum of five years of service, the employee
is entitled to receive 100% of unused sick leave at one half the employees current wage rate. Compensated
absences will be reported in government funds only if they have matured, such as upon retirement.
33
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
M. Pension Plan
For purposes of measuring the net pension liability, deferred outflows and inflows of resources related to pensions,
and pension expense, information about the fiduciary net position and additions to/deductions from the fiduciary net
position have been determined on the same basis as they are reported by the CalPERS Financial Office. For this
purpose, benefit payments (including refunds of employee contributions) are recognized when currently due and
payable in accordance with the benefit terms. Investments are reported at fair value. CalPERS audited financial
statements are publicly available reports that can be obtained at CalPERS’ website under Forms and Publications.
Net Pension liability is expected to be paid in future years from future resources, typically liquidated from the
General Fund.
N. Other Post-Employment Benefits (OPEB)
For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources
related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s plan (OPEB Plan),
the assets of which are held by California Employers’ Retiree Benefit Trust (CERBT), and additions to/deductions
from the OPEB Plan’s fiduciary net position have been determined by an independent actuary. For this purpose,
benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments
are reported at fair value. Net OPEB liability is expected to be paid in future years from future resources, typically
liquidated from the General Fund.
Generally accepted accounting principles require that the reported results must pertain to liability and asset
information within certain defined timeframes. For this report, the following timeframes are used:
Valuation Date June 30, 2023
Measurement Date June 30, 2023
Measurement Period July 1, 2022 to June 30, 2023
O. Recognition of Deferred Outflows and Deferred Inflows of Resources
Gains and losses related to changes in total OPEB or Pension liability and fiduciary net position are recognized in
OPEB or Pension expense systematically over time. Amounts are first recognized in OPEB or Pension expense for
the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows
of resources related to OPEB or Pension and are to be recognized in future OPEB or Pension expense.
The recognition period differs depending on the source of the gain or loss:
Net difference between projected and actual 5 years
earnings on plan investments
All other amounts Expected average remaining service lifetime (EARSL)
P. Property Taxes
Under California law, property taxes are assessed and collected by the counties up to 1% of assessed value, plus
other increases approved by the voters. The property taxes go into a pool, and are then allocated to the cities based
on complex formulas. Accordingly, the City accrues only those taxes which are received from the County within
60 days after year end.
34
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 1: REPORTING ENTITY AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Property taxes are assessed and collected each fiscal year according to the following property tax calendar:
Lien date January 1
Levy date July 1
Due dates November 1 - 1st installment
February 1 - 2nd installment
Collection dates December 10 - 1st installment
April 10 - 2nd installment
Delinquent dates December 11 - 1st installment
April 11 - 2nd installment
Q. Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the
United States of America requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenditures during the reporting period. Actual
results could differ from those estimates. Net OPEB liability is expected to be paid in future years from future
resources, typically liquidated from the General Fund.
R. Fund Equity
In the fund financial statements, government funds report the following fund balance classification:
Nonspendable include amounts that cannot be spent because they are either (a) not in spendable form or
(b) legally or contractually required to be maintained intact.
Restricted include amounts that are constrained on the use of resources by either (a) external creditors,
grantors, contributors, or laws of regulations of other governments or (b) by law through constitutional provisions
or enabling legislation.
Committed include amounts that can only be used for specific purposes pursuant to constraints imposed by
formal action of the government’s highest authority, City Council. The formal action that is required to be taken
to establish, modify, or rescind a fund balance commitment is a resolution.
Assigned include amounts that are constrained by the government’s intent to be used for specific purposes, but
are neither restricted nor committed. The Director of Finance is authorized to assign amounts to a specific
purpose, which was established by the governing body in resolution.
Unassigned include the residual amounts that have not been restricted, committed, or assigned to specific
purposes. The General Fund is the only fund that reports a positive fund unassigned fund balance amount. In
other governmental funds it is not appropriate to report a positive unassigned fund balance amount.
However, in governmental funds other than the general fund, if expenditures incurred for specific purposes exceed
the amounts that are restricted, committed, or assigned to those purposes, it may be necessary to report a negative
unassigned fund balance in that fund.
An individual governmental fund could include nonspendable resources and amounts that are restricted or
unrestricted (committed, assigned, or unassigned) or any combination of those classifications. Restricted amounts
are to be considered spent when an expenditure is incurred for purposes for which both restricted and unrestricted
fund balance is available and committed, assigned, then unassigned amounts are considered to have been spent
when an expenditure is incurred for purposes for which amounts in any of those unrestricted fund balance
classifications can be used.
35
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 2: STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
Deficit Fund Equity
At June 30, 2023, The City reported deficit fund equities in the following funds:
NOTE 3: CASH AND INVESTMENTS
As of June 30, 2023, cash and investments were reported in the accompanying financial statements as follows:
Statement of Net Position:
Cash and investments 72,156,901$
Cash and investments with fiscal agents 1,561
72,158,462$
Cash and investments held by the City at June 30, 2023, consisted of the following:
Cash and cash equivalents:
Imprest cash on hand 2,297$
Demand deposits 1,590,753
Total Cash and cash equivalents 1,593,050
Investments:
United States Government Sponsored Enterprise Securities 22,288,084
Federal Agency Securities 19,190,522
Certificates of Deposit 10,591,045
Corporate Notes 918,898
Municipal Bonds 1,963,613
Money Market Mutual Funds 7,300,341
Local Agency Investment Fund 8,311,348
Held by fiscal agents:
Money Market Mutual Funds 1,561
Total Investments and held by fiscal agents 70,565,412
72,158,462$
Fund Name Fund Type Deficit Cause
Measure A NonMajor Special Revenue Fund (184,000)$ (a)
MTA Grant Fund NonMajor Special Revenue Fund (56,599) (a)
Local Roadway Safety Plan NonMajor Special Revenue Fund (92) (a)
Capital Improvement Fund Major Capital Projects Fund (485,103) (b)
(a) Deficit due to timing differences between grant receipts and disbursements, and is
expected to be eliminated through future grant revenues.
(b) Deficit due to the timing differences between expenditures and the iss uance of bonds to
finance the project, and is expected to be eliminated once the bonds are issued.
36
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 3: CASH AND INVESTMENTS (CONTINUED)
Investments Authorized by the California Government Code and the City's Investment Policy
The following table identifies the investment types that are authorized for the City by the California Government
Code (or the City’s investment policy, where more restrictive). The table also identifies certain provisions of the
California Government Code (or the City's investment policy, where more restrictive) that address' interest rate risk,
credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by bond
trustee that are governed by the provisions of debt agreements of the City, rather than the general provisions of the
California Government Code or the City's investment policy. The City Treasurer may waive the collateral
requirement for deposits that are fully insured up to $250,000 by the FDIC.
Authorized Investment Type
Maximum
Maturity
Maximum
Percentage of
Portfolio
Maximum
Investment in
One Issuer
United States Treasury Obligations 5 years None None
United States Government Sponsored Enterprise Securities 5 years None None
Banker's Acceptances 180 days 40% 30%
Time Certificates of Deposits 5 years 30% 250,000$
Commercial Paper 270 days 25% 10%
Negotiable Certificates of Deposit 5 years 30% None
Money Market Mutual Funds 5 years 20% None
Repurchase Agreements 1 year None None
Medium-Term Corporate Notes (1) 5 years 30% 5%
Supranational 5 years 30% None
Local Agency Investment Fund (LAIF) N/A None 75,000,000$
(1) Notes must be rated "A" or better
N/A - Not Applicable
Investments Authorized by Debt Agreements
Investments of debt proceeds held by bond trustee are governed by provisions of the debt agreements, rather than
the general provisions of the California Government Code or the City's investment policy. The table below identifies
the investment types that are authorized for investments held by bond trustee. The table also identifies certain
provisions of these debt agreements that address interest rate risk, credit risk, and concentration of credit risk.
Authorized Investment Type
Maximum
Maturity
Maximum Percentage
of Portfolio
Maximum
Investment in
One Issuer
United States Treasury Obligations None None None
United States Government Sponsored
Enterprise Securities None 10%None
Banker's Acceptance 1 year None None
Time Certificate of Deposits None None None
Local Agency Investment Fund None None None
Money Market Funds None None None
Repurchase Obligations Tax Exempt 30 days None None
Taxable Government Money Market Portfolios None None Equal to six months
of principal and
interest in the bonds
37
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 3: CASH AND INVESTMENTS (CONTINUED)
Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment.
Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in interest
rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of
shorter term and longer term investments and by timing cash flows from maturities so that a portion of the portfolio
is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed
for operations.
Information about the sensitivity of the fair values of the City's investments (including investments held by bond
trustee) to interest rate fluctuations is provided by the following table that shows the distribution of the City's
investments by maturity:
Investment Type
12 Months or
Less 1 - 3 years 3 - 5 years Total
US Government Sponsored Securities 13,752,186$ 6,684,727$ 1,851,172$ 22,288,085
Federal Agency Securities 5,640,596 6,271,552 7,278,374 19,190,522
Certificate of Deposits 482,430 6,652,342 3,456,273 10,591,045
Corporate Notes 494,910 - 423,988 918,898
Municipal Bonds 191,086 323,419 1,449,107 1,963,612
Money Market Mutual Funds 7,300,341 - - 7,300,341
Local Agency Investment Fund (LAIF) 8,311,348 - - 8,311,348
Held by Fiscal Agents:
Money Market Mutual Funds 1,561 - - 1,561
36,174,458$ 19,932,040$ 14,458,914$ 70,565,412$
Remaining Maturity (in Months)
Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the
investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization.
Presented below is the minimum rating required by (where applicable) the California Government Code, the City's
investment policy, or debt agreements, and the actual rating, as reported by Moody’s, as of year-end for each
investment type:
Investment Type
Total as of
June 30, 2023 Aaa Aa2 Aa3 A1 Unrated
US Government Sponsored Securities 22,288,084$ 22,288,084$ -$ -$ -$ -$
Federal Agency Securities 19,190,522 19,190,522 - - - -
Certificate of Deposits 10,591,045 - - - - 10,591,045
Corporate Notes 918,898 - - - - 918,898
Municipal Bonds 1,963,613 - 229,489 285,017 - 1,449,107
Money Market Mutual Funds 7,300,341 - - - - 7,300,341
Local Agency Investment Fund (LAIF) 8,311,348 - - - 8,311,348
Held by Fiscal Agents:
Money Market Mutual Funds 1,561 - - - - 1,561
70,565,412$ 41,478,606$ 229,489$ 285,017$ -$ 28,572,300$
Fair Value Hierarchy
The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted
accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset.
Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable
inputs; Level 3 inputs are significant unobservable inputs.”
38
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 3: CASH AND INVESTMENTS (CONTINUED)
Investments by fair value level Totals 1 2 3
United States Treasure Obligations 22,288,084$ 22,288,084$ -$ -$
Federal Agency Securities 19,190,522 - 19,190,522 -
Certificate of Deposit 10,591,045 - 10,591,045 -
Corporate Notes 918,898 - 918,898 -
Municipal Bonds 1,963,613 - 1,963,613 -
Totals 54,952,162$ -$ 32,664,078$ -$
Other investments
Local Agency Investment Fund 8,311,348
Money Market Mutual Funds 7,300,341
Cash with Fiscal Agents
Money Market Funds 1,561
Totals 15,613,250
Total Investments 70,565,412$
Level
The City has the following recurring fair value measurements as of June 30, 2023:
Local Agency Investment Funds classified in Level 2 of the fair value hierarchy are valued using specified fair value
factors. Federal Agency Securities classified in Level 2 of the fair value hierarchy are valued using institutional bond
quotes.
Disclosures Relating to Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a
government will not be able to recover its deposits or will not be able to recover collateral securities that are in the
possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of
the counterparty (e.g., broker-dealer) to a transaction, a government will not be able to recover the value of its
investment or collateral securities that are in the possession of another party. The California Government Code and
the City's investment policy do not contain legal or policy requirements that would limit the exposure to custodial
credit risk for deposits or investments, other than the following provision for deposits: The California Government
Code requires that a financial institution secure deposits made by state or local governmental units by pledging
securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the
governmental unit). The fair value of the pledged securities in the collateral pool must equal at least 110% of the
total amount deposited by the public agencies. California law also allows financial institutions to secure City deposits
by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits. The City does
not accept 150% of the secured public totals. At June 30, 2023, the City deposits (bank balances) were insured by
the Federal Depository Insurance Corporation up to $250,000 and the remaining balances were collateralized under
California Law. The cash and investments held by Bond Trustee are uninsured and uncollateralized.
Investment in State Investment Pool
The City is a voluntary participant in the California Local Agency Investment Fund (LAIF) that is regulated by
California Government Code Section 16429 under the oversight of the Treasurer of the State of California. LAIF is
overseen by the Local Agency Investment Advisory Board, which consists of five members, in accordance with
State statute. The State Treasurer’s Office audits the fund annually. The fair value of the position in the investment
pool is the same as the value of the pool shares.
39
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 4: INTERFUND TRANSFERS AND DUE TO/FROM OTHER FUNDS
Total
Transfers Out:
General Fund -$ 1,032,518$ 825,058$ 1,997,033$ 3,854,609$
Non-Major Governmental Funds 1,261,764 5,313,111 - - 6,574,875
Internal Service Funds - 65,000 - - 65,000
Total 1,261,764$ 6,410,629$ 825,058$ 1,997,033$ 10,494,484$
Transfers In
Internal Service
FundsGeneral Fund
Capital
Improvement
Fund
Non-Major
Governmental
Funds
Transfers from the General Fund to the Internal Service Funds were made to fund the self-insurance, equipment
replacement, computer equipment replacement and building facility & maintenance funds.
Transfers from the General Fund to the Capital Improvement Fund were made to fund various capital improvement
projects.
Transfers from the General Fund to the Other Governmental Funds were made to fund various capital improvement
projects, the City general plan revision, a fund deficit and debt service payments.
Transfers to the General Fund from the Other Governmental Funds were made to fund various capital projects and
administrative expenditures.
Transfers to the Capital Improvement Fund from the Other Governmental Funds were made to fund various capital
projects.
Due from other funds Due to other funds Amount
General Fund Other Governmental Funds 276,296$
Short-term borrowings were made from the General Fund to Other Governmental due to negative cash. This is
expected to be repaid in the immediate future with reimbursements.
40
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 5: CAPITAL ASSETS
A summary of changes in the Governmental Activities capital assets at June 30, 2023, is as follows:
Balance at
June 30, 2022 Transfers Additions Deletions
Balance at
June 30, 2023
Capital assets not being depreciated:
Land 6,369,506$ -$ -$ -$ 6,369,506$
Right of way 265,614,104 - - - 265,614,104
Construction in progress 2,053,357 (2,018,301) 2,857,724 - 2,892,780
Total Capital Assets Not
being Depreciated 274,036,967 (2,018,301) 2,857,724 - 274,876,390
Capital assets being depreciated:
Buildings and improvements 48,544,173 844,719 1,151,751 - 50,540,643
Furniture and fixtures 259,868 - - - 259,868
Vehicles and equipment 5,397,486 (771,167) 86,020 - 4,712,339
Infrastructure 198,444,727 1,173,582 2,787,743 - 202,406,052
Intangibles - 771,167 - - 771,167
Total Capital Assets
being Depreciated 252,646,254 2,018,301 4,025,514 - 258,690,069
Less accumulated depreciation for:
Buildings and improvements 39,330,103 - 2,325,523 - 41,655,626
Furniture and fixtures 259,125 - 743 - 259,868
Vehicles and equipment 3,942,258 (77,117) 324,095 - 4,189,236
Infrastructure 142,717,134 - 5,072,822 - 147,789,956
Intangibles - 77,117 - - 77,117
Total Accumulated
Depreciation 186,248,620 - 7,723,183 - 193,971,803
Total Capital Assets
Being Depreciated, Net 66,397,634 2,018,301 (3,697,669) - 64,718,266
Governmental Activities
Capital Assets, Net 340,434,601$ -$ (839,945)$ -$ 339,594,656$
Depreciation expense was charged to functions in the Statement of Activities as follows:
General government 637,192$
Highways and streets 4,894,705
Parks, recreation and culture 1,962,861
Internal Service Funds depreciation charges to program 228,425
7,723,183$
41
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 6: LONG-TERM LIABILITIES
Long-term liability activity for the year ended June 30, 2023, was as follows:
Balance at
June 30, 2022 Additions Deletions
Balance at
June 30, 2023
Due Within
One Year
Public Offering
Bonds payable
2021 Series A Lease Revenue Bonds 6,280,000$ -$ 465,000$ 5,815,000$ 480,000$
Total 6,280,000$ -$ 465,000$ 5,815,000 480,000$
Net unamortized bond premium 1,074,244
Net Long-Term Debt 6,889,244$
Bonds Payable
2021 Series A Lease Revenue Refunding Bonds
The 2021 Series A Lease Revenue Refunding Bonds were originally issued on June 1, 2021, in the principal amount
of $6,735,000. Interest is paid semiannually on December 1 and June 1. The interest rate on these bonds is 4.0%.
The purpose of these bonds is to refund the 2002 Series A Lease Revenue Bonds and to cover issuance costs of
the 2021 Series A bonds.
The following events are Events of Default under the Indenture: (i) if the City fails; (A) to pay rental payment payable
under the lease agreement when the same becomes due and payable, time being expressly declared to be of the
essence in the lease agreement; or (B) to keep, observe or perform any other term, covenant or condition contained
therein or in the indenture to be kept or performed by the City; or (ii) upon the happening of any of the events
specified in the lease agreement, the City is deemed to be in default thereunder and it is lawful for the Authority to
exercise any and all remedies available pursuant to law or granted pursuant thereto. The 2021 Bonds are not
subject to acceleration in the event of payment default. The City completed the refunding to reduce its total service
payments by $1,736,355 and to obtain an economic gain (difference between the present value of the old and new
debt service payments) of $1,632,706.
Credit Risk
The Counterparty, JPMorgan Chase, has the following credit ratings of: (i) Standard & Poor's, AA+ and (ii) Moody's,
Aa2.
Payments and Associated Debt
As of June 30, 2023, debt service requirements of the Bonds and the Counterparty's payments, assuming current
interest rates remain the same for remainder of the term of the Agreement, are as follows:
June 30 Principal Interest
2024 480,000$ 232,600$
2025 505,000 213,400
2026 530,000 193,200
2027 550,000 172,000
2028 580,000 150,000
2029-2033 3,170,000 383,000
Totals 5,815,000$ 1,344,200$
Governmental Activities
42
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 6: LONG-TERM LIABILITIES (CONTINUED)
Compensated Absences
The City's policies relating to compensated absences are described in Note 1. This liability, amounting to $1,005,543
at June 30, 2023, is expected to be paid in future years from future resources, typically liquidated from the
General Fund.
Balance at
June 30, 2022 Additions Deletions
Balance at
June 30, 2023
Due Within
One Year
Compensated absences 942,925$ 461,862$ 399,244$ 1,005,543$ 300,000$
NOTE 7: LIABILITY, PROPERTY AND WORKERS’ COMPENSATION PROTECTION
The City of Diamond Bar is a member of the California Joint Powers Insurance Authority (Authority). The Authority
is composed of 124 California public entities and is organized under a joint powers agreement pursuant to California
Government Code §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 lines of coverage. The California JPIA began covering claims of its members in 1978. Each
member government has an elected official as its representative on the Board of Directors. The Board operates
through a nine-member Executive Committee.
A. Self-Insurance Programs of the Authority
Each member pays an annual contribution at the beginning of the coverage period. A retrospective adjustment is
then conducted annually thereafter, for coverage years 2012-13 and prior. Coverage years 2013-14 and forward
are not subject to routine annual retrospective adjustment. The total funding requirement for primary self-insurance
programs is based on an actuarial analysis. Costs are allocated to individual agencies based on payroll and claims
history, relative to other members of the risk-sharing pool.
Primary Liability Program
Claims are pooled separately between police and general government exposures. (1) The payroll of each member
is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member,
which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first
layer of losses includes incurred costs up to $100,000 for each occurrence and is evaluated as a percentage of the
pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from
$100,000 to $500,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within
the second layer. (4) Incurred costs from $500,000 to $50 million, are distributed based on the outcome of cost
allocation within the first and second loss layers.
The overall coverage limit for each member, including all layers of coverage, is $50 million per
occurrence. Subsidence losses also have a $50 million per occurrence limit. The coverage structure is composed
of a combination of pooled self-insurance, reinsurance, and excess insurance. Additional information concerning
the coverage structure is available on the Authority’s website: https://cjpia.org/coverage/risk-sharing-pools/.
Primary Workers’ Compensation Program
Claims are pooled separately between public safety (police and fire) and general government exposures.
(1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is
determined for each member, which establishes the weight applied to payroll and the weight applied to losses within
the formula. (2) The first layer of losses includes incurred costs up to $75,000 for each occurrence and is evaluated
as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes
incurred costs from $75,000 to $200,000 for each occurrence and is evaluated as a percentage of the pool’s total
incurred costs within the second layer. (4) Incurred costs from $200,000 to statutory limits are distributed based on
the outcome of cost allocation within the first and second loss layers.
43
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 7: LIABILITY, PROPERTY AND WORKERS’ COMPENSATION PROTECTION (CONTINUED)
For 2022-23 the Authority’s pooled retention is $1 million per occurrence, with reinsurance to statutory limits under
California Workers’ Compensation Law. Employer’s Liability losses are pooled among members to
$1 million. Coverage from $1 million to $5 million is purchased through reinsurance policies, and Employer’s
Liability losses from $5 million to $10 million are pooled among members.
B. Purchased Insurance
Pollution Legal Liability Insurance
The City of Diamond Bar participates in the pollution legal liability insurance program which is available through the
Authority. The policy covers sudden and gradual pollution of scheduled property, streets, and storm drains owned
by the City of Diamond Bar. Coverage is on a claims-made basis. There is a $250,000 deductible. The Authority
has an aggregate limit of $20 million.
Property Insurance
The City of Diamond Bar participates in the all-risk property protection program of the Authority. This insurance
protection is underwritten by several insurance companies. City of Diamond Bar property is currently insured
according to a schedule of covered property submitted by the City of Diamond Bar to the Authority. City of Diamond
Bar property currently has all-risk property insurance protection in the amount of $38,767,939. There is a
$10,000 deductible per occurrence except for non-emergency vehicle insurance which has a $2,500 deductible.
Earthquake and Flood Insurance
The City of Diamond Bar purchases earthquake and flood insurance on a portion of its property. The earthquake
insurance is part of the property protection insurance program of the Authority. City of Diamond Bar property
currently has earthquake protection in the amount of Non Participant. There is a deductible of 5% per unit of value
with a minimum deductible of $100,000.
Crime Insurance
The City of Diamond Bar purchases crime insurance coverage in the amount of $1,000,000 with a
$2,500 deductible. The fidelity coverage is provided through the Authority.
Special Event Tenant User Liability Insurance
The City of Diamond Bar further protects against liability damages by requiring tenant users of certain property to
purchase low-cost tenant user liability insurance for certain activities on agency property. The insurance premium
is paid by the tenant user and is paid to the City of Diamond Bar according to a schedule. The City of Diamond Bar
then pays for the insurance. The insurance is facilitated by the Authority.
C. Adequacy of Protection
During the past three fiscal years, none of the above programs of protection experienced settlements or judgments
that exceeded pooled or insured coverage. There were also no significant reductions in pooled or insured liability
coverage in 2022-23.
44
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 8: PENSIONS
A. Rate Plan Description
All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing
Multiple-Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees’
Retirement System (CalPERS.) The Plan consists of individual rate plans (benefit tiers) within a miscellaneous risk
pool (all other.) Plan assets may be used to pay benefits for any employer rate plan of the miscellaneous pools.
Accordingly, rate plans miscellaneous pools are not separate plans under GASB Statement No. 68. Individual
employers may sponsor more than one rate plan in the risk pools. The City sponsors two rate plans. Benefit
provisions under the Plan are established by State statute and Local Government resolution. CalPERS issues
publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions
and membership information that can be found on the CalPERS website.
B. Benefits Provided
CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits
to rate plan members, who must be public employees and beneficiaries. Benefits are based on years of credited
service, equal to one year of full-time employment. Members with five years of total service are eligible to retire at
age 50 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of
service. The death benefit is one of the following: The Optional Settlement 2W Death Benefit or
the Lump Sum Death Benefit. The cost of living adjustments for each rate plan are applied as specified by the Public
Employees’ Retirement Law. The Rate Plans’ provisions and benefits in effect at June 30, 2023, are summarized
as follows:
Miscellaneous* Misc. PEPRA
Hire dates
Prior to
January 1, 2013
January 1, 2013
and thereafter
Benefit formula 2% @55 2% @62
Benefit vesting schedule 5 years of service 5 years of service
Benefit payments monthly for life monthly for life
Retirement age Minumum 50 yrs Minumum 52 yrs
Monthly benefits, as a percentage of eligible
compensation
1.425% - 2.418%,
50 yrs - 63+ yrs,
respectively
1.000% - 2.500%,
52 yrs - 67+ yrs,
respectively
Required employee contribution rates 6.920%6.750%
Required employer contribution rates 10.320%7.470%
Payment towards UAL 579,146$ 3,484$
* Miscellaneous rate plan is closed to new entrants.
C. Contributions
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer
contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective
on the July 1 following notice of a change in the rate. The total rate plan contributions are determined through the
CalPERS’ annual actuarial valuation process. The actuarially determined rate is based on the estimated amount
necessary to pay the Plan’s allocated share of the risk pool’s costs of benefits earned by employees during the
year, and any unfunded accrued liability. The employer is required to contribute the difference between the
actuarially determined rate and the contribution rate of employees.
The City’s contributions to the Plan for the year ended June 30, 2023, were $1,157,713.
45
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 8: PENSIONS (CONTINUED)
D. Pension Liabilities, Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related
to Pensions
As of June 30, 2023, the City reported a net pension liability for its proportionate share of the net pension liability of
the Plan of $7,903,769 and is expected to be paid in future years from future resources, typically liquidated from
the General Fund.
The City’s net pension liability for the Plan is measured as the proportionate share of thenet pension liability. The
net pension liability of the Plan is measured as of June 30, 2022, and the total pension liability for the Plan used to
calculate the net pension liability was determined by an actuarial valuation as of June 30, 2021, rolled forward to
June 30, 2023, using standard update procedures. The City’s proportion of the net pension liability was based on a
projection of the City’s long-term share of contributions to Plan relative to the projected contributions of all
participating employers, actuarially determined. The City’s proportionate share of the net pension liability for each
Rate Plan as of June 30, 2021 and 2022, was as follows:
Miscellaneous
Proportion - June 30, 2021 0.05574%
Proportion - June 30, 2022 0.06843%
Change - Increase (Decrease)0.01269%
For the year ended June 30, 2023, the City recognized pension expense of $1,471,233. At June 30, 2023, the City
reported deferred outflows of resources and deferred inflows of resources related to pensions from the following
sources:
Deferred Outflows of
Resources
Deferred Inflows of
Resources
Difference between expected and actual experience 158,723$ (106,306)$
Net Difference between projected and acutal earnings
on pension plans investments 1,447,761 -
Adjustment due to difference in proportions 439,481 -
Change in assumptions 809,906 -
Change in employer's proportion and differences
between the employer's contributions and the
employer's proportionate share of contributions - (283,220)
Current year contributions that occurred after the
measurement date of June 30, 2022 1,157,714 -
SubTotal 4,013,585$ (389,526)$
46
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 8: PENSIONS (CONTINUED)
$1,157,713 reported as deferred outflows of resources related to contributions subsequent to the measurement
date will be recognized as a reduction of the net pension liability in the year ended June 30, 2024. Other amounts
reported as deferred outflows or deferred inflows of resources related to pensions will be recognized as pension
expense as follows:
Year Ended Deferred Outflows/
June 30, (Inflows) of Resources
2024 676,344$
2025 581,299
2026 323,203
2027 885,500
Thereafter -
Total 2,466,346$
E. Actuarial Methods and Assumptions Used to Determine Total Pension Liability
For the measurement period ended June 30, 2022 (the measurement date), the total pension liability was
determined by rolling forward the June 30, 2021 total pension liability. The June 30, 2022 total pension liability was
based on the following actuarial methods and assumptions:
Actuarial Methods and Assumptions
Investment rate of return 6.90%
Inflation 2.30%
Salary increases Varies by Entry Age and Service
Mortality rate table 1 Derived using CalPERS' Membership Date for all Funds
Post-retirement benefit increase Contract COLA up to 2.30% until Purchase Power
Protection Allowance Floor on Purchasing Power applies.
The collective total pension liability for the June 30, 2022 measurement period was determinded by an
actuarial valuation as of June 30, 2021, with update procedures used to roll forward the total pension
liability to June 30, 2022. The collective total pension liability was based on the following assumptions:
1 The mortality table was used developed based on CalPERS-specific data. The table includes 15 years of
mortality improvements using Society of Actuaries Scale 80% of scale MP 2020. For more details on this
table, please refer to the December 2021 experience study report (based on CalPERS demographic date
from 2010 to 2019) that can be found on the CalPERS website.
All other actuarial assumptions used in the June 30, 2021 valuation were based on the results of an actuarial
experience study for the period from 2010 to 2019, including updates to salary increase, mortality and retirement
rates. The Experience Study report can be obtained at CalPERS’ website under Forms and Publications.
F. Change in Assumptions
Effective with the June 30, 2021 valuation date (2022 measurement date), the accounting discount rate was reduced
from 7.15% to 6.90%. In determining the long-term expected rate of return, CalPERS took into account long-term
market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes
47
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 8: PENSIONS (CONTINUED)
are estimated, combined with risk estimates, and are used to project compound (geometric) returns over the long
term. The discount rate used to discount liabilities was informed by the long-term projected portfolio return. In
addition, demographic assumptions and the inflation rate assumption were changed in accordance with the
2021 CalPERS Experience Study and Review of Actuarial Assumptions. The accounting discount rate was
7.15% for measurement dates 2017 through 2021, 7.65% for measurement dates 2015 through 2016, and
7.50% for measurement date 2014.
G. Discount Rate
The discount rate used to measure the total pension liability for PERF C was 6.90%. The projection of cash flows
used to determine the discount rate assumed that contributions from plan members will be made at the current
member contribution rates and that contributions from employers will be made at statutorily required rates,
actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available
to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of
return on plan investments was applied to all periods of projected benefit payments to determine the total pension
liability.
The long-term expected rate of return on pension plan investments was determined using a building-block method
in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation)
are developed for each major asset class.
In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term
return expectations as well as the expected pension fund cash flows. Using historical returns and forecasted
information of all the funds’ asset classes, expected compound (geometric) returns were calculated over the
short-term (first 10 years) and the long-term (11+ years) using a building-block approach. Using the expected
nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The
expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the
same present value of benefits for cash flows as the one calculated using both short-term and long-term returns.
The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to
account for assumed administrative expenses.
The table below reflects long-term expected real rate of return by asset class. The rate of return was calculated
using the capital assumptions applied to determine the discount rate and asset allocation.
Asset Class 1
Assumed
asset
allocation Real return
Global equity - Cap-weighted 30.00% 4.54%
Global equity - Non-Cap-weighted 12.00% 3.84%
Private equity 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage-backed securities 5.00% 0.50%
Investment Grade Corporates 10.00% 1.56%
High Yield 5.00% 2.27%
Emerging Market Debt 5.00% 2.48%
Private Debt 5.00% 3.57%
Real Assets 15.00% 3.21%
Leverage -5.00% -0.59%
48
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 8: PENSIONS (CONTINUED)
H. Sensitivity of the Net Pension Liability to Changes in the Discount Rate
The following presents the net pension liability/(asset) of the Plan as of the measurement date, calculated using the
discount rate of 6.90 percent, as well as what the net pension liability/(asset) would be if it were calculated using a
discount rate that is 1 percentage-point lower (5.90 percent) or 1 percentage-point higher (7.90 percent) than the
current rate:
Discount Rate - 1%
(5.90%)
Current Discount Rate
(6.90%)
Discount Rate +1%
(7.90%)
Plan's Net Pension
Liability/(Assets)12,815,518$ 7,903,769$ 3,862,619$
I. Pension Plan Fiduciary Net Position
Detailed information about the Plan’s fiduciary net positions is available in the separately issued CalPERS financial
reports.
NOTE 9: POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS
The City provides an agent multiple employer OPEB plan to retirees through the California Employers’ Retiree
Benefit Trust (CERBT). Information on the plan is available from CalPERS on their website www.calpers.ca.gov.
A. Plan Description
Plan administration. Medical coverage is provided through CalPERS under the Public Employees' Medical and
Hospital Care Act (PEMHCA), also referred to as PERS Health. Employees may choose from a variety of HMO and
PPO medical and prescription drug options.
Benefits provided. The City sets its monthly contribution rates for health insurance on behalf of active employees
according to the PEMHCA statutory minimum $136/month for calendar 2019 and $139/month for calendar 2020.)
These amounts are indexed (increased) in all future years according to the rate of medical inflation. The City pays
a 0.33% of premium administrative charge for all active employees. The City offers the same medical plans to its
retirees as to its active employees, with the general exception that upon reaching age 65 and becoming eligible for
Medicare, the retiree must join one of the Medicare Supplement coverages offered under PEMHCA.
Employees become eligible to retire and receive City-paid healthcare benefits upon attainment of
age 50 and 5 years of covered PERS service (age 52 and 5 for hires after 1/1/13), or by attaining qualifying disability
retirement status. The City's contribution on behalf of all eligible retirees is the same as for active employees
$139/month for calendar 2020 and $219/month for calendar 2021, increased in all future years according to the rate
of medical inflation.) The City pays a 0.33% of premium administrative charge on behalf of all retirees.
B. Plan membership
At June 30, 2023, membership consisted of the following:
Inactive plan members or beneficiaries currently receiving benefit payments 11
Active plan members 61
Total 72
49
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 9: POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (CONTINUED)
C. Contributions
The City currently contributes the full Actuarially Determined Contribution (ADC) to the CERBT OPEB trust, in
addition to paying benefit payments outside the trust. For the measurement date ended June 30, 2023, the City’s
total cash contributions were $106,000 in total payments, which were recognized as a reduction to the OPEB
liability.
D. Investments
The CERBT was established for public agencies to pre-fund other post-employment benefit obligations. Employers
may choose amount three different investment strategies. The City of Diamond Bar has selected Strategy 3.
Compared to strategies 1 and 2, this portfolio consists of a higher percentage of bonds and other assets and a
lesser percentage of equities. The following was the investment committee approved asset allocation targets as of
June 30, 2022 (CalPERS ACFR for fiscal year 2022-2023 was not available as of the issuance of the City’s ACFR):
Asset Class Target Allocation
Global Equity 22%
U.S. Fixed Income 49%
TIPS 16%
REITs 8%
Commodoties 5%
Total 100%
E. Net OPEB Liability
The City’s Net OPEB Liability was measured as of June 30, 2023 and the Total OPEB Liability used to calculate
the Net OPEB Liability was determined by an actuarial valuation as of July 1, 2022 and is expected to be paid in
future years from future resources, typically liquidated from the General Fund.
F. Actuarial assumptions
The total OPEB liability was determined using the following actuarial assumptions, applied to all periods included
in the measurement, unless otherwise specified:
Actuarial Cost Method Entry Age Level Percent of Pay Cost Method
Actuarial Assumptions
Discount Rate 5.75%
Salary increases 2.75%
Inflation rate 2.50%
Investment rate of return 5.75%, net of OPEB plan investment expense
Healthcare cost trend rate 4.00%
Pre-retirement mortality rates were based on the RP-2014 Employee Mortality Table for Males or Females, as
appropriate, without projection. Post-retirement mortality rates were based on the RP-2014 Health Annuitant
Mortality Table for Males or Females, as appropriate, without projection.
Retirement and termination assumptions used were based on a review of plan experience and the actuary’s best
estimate of future plan experience.
50
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 9: POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (CONTINUED)
G. Discount rate
The discount rate used to measure the total OPEB liability was 5.75%. The projection of cash flows used to
determine the discount rate assumed that the City contributions will be made at rates equal to the actuarially
determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected
to be available to make all projected future benefit payments of current plan members. Therefore, the long-term
expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to
determine the total OPEB liability.
H. Changes in the Net OPEB Liability
The changes in the net OPEB liability are as follows:
Total OPEB
Liability (a)
Plan Fiduciary
Net Position (b)
Net OPEB
Liability/(Assets)
(c) = (a) - (b)
Balance at June 30, 2022 $ 1,278,930 $ 547,852 $ 731,078
Changes recognized for the measurement period:
Service Cost 76,892 - 76,892
Interest 74,864 - 74,864
Expected Investment Income 34,017 (34,017)
Changes of assumptions 23,517 - 23,517
Contributions - employer - 118,784 (118,784)
Experience Gains (162,768) - (162,768)
Net investment income - (23,947) 23,947
Benefit payments (30,784) (30,784) -
Administrative expense - (486) 486
Net changes (18,279) 97,584 (115,863)
Balance at June 30, 2023 $ 1,260,651 $ 645,436 $ 615,215
*Contributions-employer amount includes implicit subsidy associated with benefits paid.
I. Sensitivity of the Net OPEB liability to changes in the discount rate
The following presents the net OPEB liability, as well as what the net OPEB liability would be if it were calculated
using a discount rate that is 1 percentage-point lower (4.75 percent) or 1 percentage-point higher (6.75 percent)
than the current discount rate:
Discount Rate - 1%
(4.75%)
Current Discount Rate
(5.75%)
Discount Rate +1%
(6.75%)
Net OPEB liability (asset) 462,538$ 615,215$ 798,976$
51
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 9: POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (CONTINUED)
J. Sensitivity of the Net OPEB liability to changes in the healthcare cost trend rates
The following presents the net OPEB liability, as well as what the net OPEB liability would be if it were calculated
using healthcare cost trend rates that are 1-percentage-point lower (5.00 percent decreasing to 4.00 percent)
or 1-percentage-point higher (7.00 percent decreasing to 6.00 percent) than the current healthcare cost trend rates:
Trend Rate - 1%
(4.00% decreasing to
3.00%)
Trend Rate (5.00%
decreasing to 4.00%)
Trend Rate +1%
(6.00% decreasing to
5.00%)
Net OPEB liability (asset) 858,121$ 615,215$ 421,702$
K. Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
At June 30, 2023, the City’s deferred outflows of resources and deferred inflows of resources to OPEB from the
following sources are:
Deferred Outflows
of Resources
Deferred Inflows
of Resources
Change in assumptions 160,886$ -$
Difference between expected and actual experience 3,909 (187,440)
Net differences between projected and actual return investments 58,589 -
Total 223,384$ (187,440)$
Amounts reported as deferred outflows and deferred inflows of resources will be recognized in OPEB expense as
follows:
Year Ended
June 30,
Deferred Outflows/
(Inflows) of Resources
2024 17,184$
2025 17,492
2026 24,412
2027 6,545
2028 (486)
Thereafter (29,203)
Total 35,944$
52
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 10: LEASES
A. Leases Receivable and Deferred Inflows of Resources
The City leases of communication equipment and land for the installation of cellular towers. The terms range from
60 months to 360 months as of the contract commencement date. Some leases have extension options of ranging
from 60 months to 25 years. An initial lease receivable was recorded in the amount of $2,742,364. As of
June 30, 2023, the value of the lease receivable is $2,212,295. The value of the deferred inflow of resources as of
June 30, 2023 was $2,212,295, and the City recognized lease revenue of $96,689 during the fiscal year.
The principal and interest payments that are expected to maturity are as follows:
Fiscal Year Principal Payments Interest Payments Total Payments
2024 118,790$ 86,443$ 205,233$
2025 123,628 81,605 205,233
2026 129,342 76,586 205,928
2027 129,723 71,338 201,061
2028 130,714 66,174 196,888
2029 - 2033 725,155 247,288 972,443
2034 - 2038 717,095 92,800 809,895
2039 - 2041 137,848 8,572 146,420
Total 2,212,295$ 730,806$ 2,943,101$
Principal and Interest Requirements to Maturity
53
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 11: CLASSIFICATION OF FUND BALANCE
Details of the fund balance classifications at June 30, 2023, are as follows:
Restricted for Community Development Projects:
Integrated Waste Management 1,973,610$
Trails & Bikeways Fund 25,001
Beverage Center Recycling 107,482
Used Oil Block Grant 28,823
Park and Facility Development 1,567,641
CDBG 22
PEG Fees 706,893
CASP Fees (SB1186) 26,331
Total 4,435,803
Restricted for Public Safety:
COPS 353,280
CLEEP 8,351
Hazard Mitigation Grant 5,187
Total 366,818
Restricted for Highways and Streets:
State Gas Tax 776,638
Proposition A Transit 1,934,977
Proposition C Transit 3,293,153
Transportation Grant 1,072
Traffic Improvement 8,091,761
Sewer Mitigation 57,234
Road Maintenance & Rehab 4,081,076
Measure R Local Return 1,279,993
Waste Hauler 335,428
Street Beautification 336,939
Measure W Local Return 1,572,838
Total 21,761,109
Restricted for Capital Projects:
Air Quality Improvement 211,290
Measure M Local Return 2,079,201
Landscape Maintenance District 452,582
Total 2,743,073
Restricted for Debt Service:
Public Financing Authority 1,561
Committed for Emergency Contingencies:
General Fund 7,981,243
Assigned to Other Post Employment Benefits (OPEB):
General Fund 291,182
Assigned to Technology Reserve:
General Fund 591,346
Assigned for Capital Improvement Projects:
General Fund 1,308,920
Assigned for Tres Hermanos Conservancy:
General Fund (Tres Hermanos Fund 248) 6,910
Assigned for General Plan Update:
General Fund (General Plan Update Fund 103) 518,504
Assigned for Law Enforcement Reserve:
General Fund (Law Enforcement Reserve Fund 102) 941,362
Assigned for Community Organization Support:
General Fund (Community Organization Support Fund 101) 2,062
Unassigned Fund Balance:
General Fund (Fund 100) 22,959,067
Other Governmental Funds: (725,794)
Total Unassigned Funds 22,233,273$
54
CITY OF DIAMOND BAR
Notes to the Basic Financial Statements
June 30, 2023
NOTE 12: TRES HERMANOS CONSERVATION AUTHORITY JOINT POWERS AUTHORITY
The Tres Hermanos Conservation Authority (Authority) is a joint powers agency created by a joint powers
agreement between the cities of Chino Hills and Diamond Bar, California, dated January 19, 1999. It was created
pursuant to Articles 1 through 4 of Chapter 5, Division 7, Title 1 of the Government Code of the State of California,
in accordance with the provisions of the Marks-Roos Local Bond Pooling Act of 1985. The purpose of the Authority
is to create a public entity to coordinate the overall development and conservation of a large undeveloped area of
real property known as the Tres Hermanos Ranch, by preparing studies, plans, environmental reviews and similar
information and by making recommendations to its members to take such actions including, but not limited to,
acquisition and eminent domain as are necessary to implement its recommendations.
On February 6, 2019, the Authority amended and restated its agreement with the City of Industry pursuant to a
Settlement Agreement. The City of Industry purchased the Tres Hermanos Ranch from the Successor Agency to
Industry’s Urban Development Agency. The City of Chino Hills and Diamond Bar contributed 10% of the purchase
of the land. With the new agreement each City will contribute approximately $70,000 each year for ranch expenses
and maintenance costs. The Board shall consist of seven voting directors and one alternate from each City, actions
taken require at least four approval. Three must come from the City of Industry, two from City of Chino Hills and two
from City of Diamond Bar.
The Authority is a public entity separate and apart from each of the Cities. The funds of the Authority have not been
included within the scope of the basic financial statements of the Cities because the Authority has its own governing
board that has responsibility over the operations of the Authority.
NOTE 13: CONSTRUCTION COMMITMENTS
The City had the following material construction commitments at June 30, 2023:
Residential & Collector Streets Rehabilitation (Area 2)2,660,276$
Total significant commitments 2,660,276$
NOTE 14: SUBSEQUENT EVENTS
The City evaluated subsequent events for recognition and disclosure through December 8, 2023, the date on which
these financial statements were available to be issued. Management concluded that no material subsequent events
have occurred since June 30, 2023, that required recognition or disclosure in these financial statements.
55
THIS PAGE INTENTIONALLY LEFT BLANK
56
REQUIRED SUPPLEMENTARY
INFORMATION
57
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
General Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1, as restated 30,226,704$ 30,226,704$ 30,226,704$ -$
Resources (Inflows):
Taxes 15,045,869 15,428,869 16,445,551 1,016,682
Licenses and Permits 2,297,168 2,410,433 2,275,281 (135,152)
Intergovernmental 10,709,172 10,709,172 10,712,016 2,844
Charges for Services 1,354,205 1,566,705 1,593,826 27,121
Use of Money and Property 630,000 630,000 498,274 (131,726)
Fines and Forfeitures 370,000 370,000 383,058 13,058
Miscellaneous 288,580 288,580 184,345 (104,235)
Transfers In 1,246,825 1,309,925 1,261,764 (48,161)
Total Resources 31,941,819 32,713,684 33,354,115 640,431
Amounts Available for Appropriations 62,168,523 62,940,388 63,580,819 640,431
Charges to Appropriations (Outflow):
General Government
City Council 212,260 212,260 210,861 1,399
City Attorney 205,000 205,000 152,608 52,392
City Manager/Clerk 1,284,959 1,281,959 1,178,575 103,384
Finance 946,669 946,669 835,132 111,537
Human Resources 525,369 525,369 532,727 (7,358)
Information Systems 1,483,592 1,522,242 1,404,910 117,332
Public Information 847,148 854,364 686,820 167,544
Contribution to OPEB Trust 88,000 88,000 88,000 -
City Clerk's Office 491,956 491,956 445,104 46,852
Diamond Bar Center 1,486,548 1,522,548 1,485,591 36,957
Subtotal General Government 7,571,501 7,650,367 7,020,328 630,039
Public Safety
Law Enforcement 7,829,866 7,829,866 7,723,306 106,560
Volunteer Patrol 4,000 4,000 1,108 2,892
Fire Protection 7,500 7,500 7,359 141
Animal Control 391,700 391,700 373,879 17,821
Emergency Preparedness 47,100 47,100 39,173 7,927
Subtotal Public Safety 8,280,166 8,280,166 8,144,825 135,341
Community Development
Community Development & Planning Admin.881,439 1,791,995 1,262,295 529,700
Economic Development 277,676 277,676 198,103 79,573
Building & Safety 997,599 1,100,623 964,868 135,755
Neighborhood Improvement 485,540 484,040 445,228 38,812
Subtotal Community Development 2,642,254 3,654,334 2,870,494 783,840
Parks and recreation
Parks and Recreation Admin.2,419,632 2,560,632 1,941,947 618,685
Subtotal Parks and recreation 2,419,632 2,560,632 1,941,947 618,685
Public works
Public Works Administration 692,822 697,969 524,606 173,363
Engineering 665,333 698,643 458,709 239,934
Road Maintenance 1,882,089 2,103,664 1,703,884 399,780
Landscape Maintenance 393,270 393,270 283,241 110,029
Parks & Facilities Maintenance 1,598,585 1,713,039 1,524,736 188,303
Civic Center 642,594 694,044 652,844 41,200
Subtotal Public works 5,874,693 6,300,629 5,148,020 1,152,609
Transfers Out 4,613,828 5,269,990 3,854,609 1,415,381
Total Charges to Appropriations 31,402,074 33,716,118 28,980,223 4,735,895
Budgetary Fund Balance, June 30 30,766,449$ 29,224,270$ 34,600,596$ 5,376,326$
See Notes to Required Supplementary Information.58
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Traffic Improvement Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 7,144,649$ 7,144,649$ 7,144,649$ -$
Resources (Inflows):
Intergovernmental 846,910 846,910 853,518 6,608
Use of money and property 81,600 81,600 93,594 11,994
Total Resources 928,510 928,510 947,112 18,602
Amounts Available for Appropriations 8,073,159 8,073,159 8,091,761 18,602
Budgetary Fund Balance, June 30 8,073,159$ 8,073,159$ 8,091,761$ 18,602$
See Notes to Required Supplementary Information.59
CITY OF DIAMOND BAR
Miscellaneous Rate Plan
Schedule of Proportionate Share of the Net Pension Liability
As of June30, for the Last Ten Fiscal Years (1)
2015 2016 2017 2018
Proportion of the Net Pension Liability 0.05155%0.04862%0.05325%0.05584%
Proportionate Share of the Net Pension Liability 3,207,669$ 3,337,560$ 4,607,967$ 5,537,585$
Covered Payroll 4,376,117$ 4,650,369$ 4,551,711$ 4,680,371$
Proportionate Share of the Net Pension Liability as
Percentage of Covered Payroll 73.30%71.77%101.24%118.32%
Plan Fiduciary Net Position as a Percentage of the Total
Pension Liability 79.82%78.40%74.06%73.31%
Notes to Schedule:
Changes of Assumptions:
Benefit Changes:
The figures above include any liability impact that may have resulted from voluntary benefit changes that occurred after the June
30, 2021 valuation. However, offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes) that occurred after the
June 30, 2021 valuation date are not included in the figures above, unless the liability impact is deemed to be material by the
plan actuary.
(1) Historical information is required only for measurement years for which GASB 68 is applicable. Fiscal Year 2015 was the
first year of implementation, therefore only nine years are shown.
Effective with the June 30, 2021 valuation date (2022 measurement date), the accounting discount rate was reduced from 7.15%
to 6.90%.In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations
as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated, combined with risk
estimates,and are used to project compound (geometric) returns over the long term.The discount rate used to discount liabilities
was informed by the long-term projected portfolio return.In addition, demographic assumptions and the inflation rate assumption
were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions.The accounting
discount rate was 7.15% for measurement dates 2017 through 2021,7.65% for measurement dates 2015 through 2016, and
7.50% for measurement date 2014.
See Notes to Required Supplementary Information.60
2019 2020 2021 2022 2023
0.05629%0.05926%0.06032%0.05574%0.06843%
5,424,380$ 6,072,351$ 6,563,014$ 3,014,631$ $7,903,769
5,088,134$ 5,077,171$ 5,227,663$ 5,417,136$ 5,433,199$
106.61%119.60%125.54%55.65%145.47%
75.26%75.26%75.10%88.29%76.68%
See Notes to Required Supplementary Information.61
CITY OF DIAMOND BAR
Miscellaneous Rate Plan
Schedule of Plan Contributions - Pension
As of June30, for the Last Ten Fiscal Years (1)
2015 2016 2017 2018
Actuarially Determined Contribution 403,553$ 460,471$ 386,806$ 418,739$
Contribution in Relation to the Actuarially Determined Contribution (403,553) (587,684) (542,557) (618,219)
Contribution Deficiency (Excess)-$ (127,213)$ (155,751)$ (199,480)$
Covered Payroll 4,650,369$ 4,551,711$ 4,680,371$ 5,088,134$
Contributions as a Percentage of Covered Payroll 8.68%12.91%11.59%12.15%
Note to Schedule:
Valuation Date:June 30, 2021
Methods and assumptions used to determine contribution rates:
Actuarial Cost Method Entry Age Normal Cost Method
Amortization method Level percentage of payroll, closed
Asset valuation method Direct rate smoothing
Inflation
Payroll Growth
Projected Salary Increases
Investment Rate of Return 6.90% (net of administrative expenses)
Retirement Age
Mortality The mortality table used was developed based on CalPERS' specific
data.The table includes 15 years of mortality improvements using 80
percent of Society of Actuaries' Scale 2020.For more details on this
table, please refer to the 2021 experience study report.
(1) Historical information is required only for measurement years for which GASB 68 is applicable. Fiscal Year 2015 was the first
year of implementation, therefore only nine years are shown.
2.300%
2.750%
Varies by Entry Age and Service
All other actuarial assumptions used in the June 30, 2021 valuation
were based on the results of an actuarial experience study for the
period from 2010 to 2019,including updates to salary increase,
mortality and retirement rates.The Experience Study report may be
accessed on the CalPERS website at www.calpers.ca.gov under
Forms and Publications.
See Notes to Required Supplementary Information.62
2019 2020 2021 2022 2023
710,349$ 1,005,631$ 939,844$ 1,243,813$ 1,157,713$
(710,349) (1,005,631) (939,844) (1,243,813) (1,157,713)
-$ -$ -$ -$ -$
5,077,171$ 5,227,663$ 5,417,136$ 5,433,199$ 5,404,127$
13.99%19.24%17.35%22.89%21.42%
See Notes to Required Supplementary Information.63
CITY OF DIAMOND BAR
Schedule of Changes in the Net OPEB Liability and Related Ratios
As of June 30, for the Last Ten Fiscal Years (1)
2018 2019 2020
Total OPEB Liability
Service cost 55,838$ 57,513$ 41,976$
Interest on the total OPEB liability 41,616 46,352 53,641
Actual and expected experience difference - - 7,817
Changes in assumptions - - 10,172
Benefit payments (17,988) (19,058) (28,427)
Net change in total OPEB liability 79,466 84,807 85,179
Total OPEB liability - beginning 702,459 781,925 866,732
Total OPEB liability - ending (a)781,925 866,732 951,911
Plan Fiduciary Net Position
Contribution - employer 102,579 106,186 116,427
Net investment income 7,102 18,278 20,741
Actual and expected experience difference - - 1,529
Benefit payments (17,988) (19,058) (28,427)
Administrative expense (132) (209) (302)
Net change in plan fiduciary net position 91,561 105,197 109,968
Plan fiduciary net position - beginning 149,069 240,630 345,827
Plan fiduciary net position - ending (b)240,630 345,827 455,795
Net OPEB Liability/(Assets) - ending (a) - (b)541,295$ 520,905$ 496,116$
Plan fiduciary net position as a percentage of the total OPEB liability 30.77%39.90%47.88%
Covered-employee payroll 5,163,684$ 5,077,171$ 6,113,473$
Net OPEB liability as a percentage of covered-employee payroll 10.48%10.26%8.12%
Notes to Schedule:
Changes in assumptions:
There were no assumption changes since the prior measurement date.
(1) Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the
first year of implementation. Future years' information will be displayed up to 10 years as information becomes available.
See Notes to Required Supplementary Information.64
2021 2022 2023
43,235$ 74,834$ 76,892$
57,448 67,934 74,864
(54,653) - (162,768)
186,125 - 23,517
(32,136) (15,768) (30,784)
200,019 127,000 (18,279)
951,911 1,151,930 1,278,930
1,151,930 1,278,930 1,260,651
32,136 103,768 118,784
27,335 32,264 34,017
34,612 (89,300) (23,947)
(32,136) (15,768) (30,784)
(414) (440) (486)
61,533 30,524 97,584
455,795 517,328 547,852
517,328 547,852 645,436
634,602$ 731,078$ 615,215$
44.91%42.84%51.20%
5,417,136$ 5,433,199$ 5,404,127$
11.71%13.46%11.38%
There were no assumption changes since the prior measurement date.
See Notes to Required Supplementary Information.65
CITY OF DIAMOND BAR
Schedule of Contributions - OPEB
As of June 30, for the Last Ten Fiscal Years (1)
2018 2019 2020
84,591$ 87,129$ 116,427$
(102,579) (106,186) (116,427)
(17,988)$ (19,057)$ -$
5,163,684$ 5,077,171$ 6,113,473$
1.64%1.72%1.90%
Notes to Schedule:
Methods and assumptions used to determine contributions:
Actuarial Cost Method Entry Age Level Percent of Pay Cost Method
Discount rate 5.75%
Salary increases
Investment rate of return
Healthcare cost trend rates
PEMHCA Minimum Increase Rate
Retirement and termination
Mortality The mortality assumptions are based on the 2021 CalPERS Mortality for
Miscellaneous and Schools Employees table created by CalPERS.
CalPERS periodically studies mortality for participating agencies and
establishes mortality tables that are modified versions of commonly used
tables. This table incorporates mortality projection as deemed appropriate
based on CalPERS analysis.
Retirement and termination assumptions used were based on the 2021
CalPERS 2.0%@62 Rates for Miscellaneous Employees table created by
CalPERS.
Actuarially Determined Contribution
Contribution in Relation to the Actuarially Determined Contributions
Contribution Deficiency (Excess)
Covered-employee payroll
Contributions as a percentage of covered-employee payroll
*Actuarial methods and assumptions used to set the actuarially determined contribution for Fiscal Year 2022 were from the June
30, 2023 actuarial valuation.
(1) Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the
first year of implementation. Future years' information will be displayed up to 10 years as information becomes available.
4.10% for 2022 and later years
2.75%
4.00% for 2022-23 and after
5.75%
See Notes to Required Supplementary Information.66
2021 2022 2023
32,136$ 103,768$ 106,000$
(32,136) (103,768) -
-$ -$ 106,000$
5,417,136$ 5,433,199$ 5,404,127$
0.59%1.91%1.96%
See Notes to Required Supplementary Information.67
THIS PAGE INTENTIONALLY LEFT BLANK
68
CITY OF DIAMOND BAR
Notes to Required Supplementary Information
Year Ended June 30, 2023
NOTE 1: STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
A. Budgetary Data
General Budget Policies
The City adopts an annual budget prepared on the modified accrual basis of accounting for its governmental funds
and on the accrual basis of accounting for its proprietary funds. The City Manager or his designee is authorized to
transfer budgeted amounts between the accounts of any department or funds that are approved by City Council.
Prior year appropriations lapse unless they are approved for carryover into the following fiscal year. Expenditures
may not legally exceed appropriations at the department level.
Budget Basis of Accounting
Budgets for governmental funds are adopted on a basis consistent with generally accepted accounting principles
(GAAP).
Compliance with Budgetary Limitations
The General Fund Human Resources department exceeded appropriations by $7,358 for the year ended
June 30, 2023. The General Fund did not exceed total budgeted appropriations.
The Transportation Grant and MTA Grant special revenue funds did not adopt budgets for the fiscal year ended
June 30, 2023.
69
CITY OF DIAMOND BAR
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Pooled cash and investments 655,991$ 1,969,412$ 3,336,641$ 1,072$
Receivables:
Accounts - - - -
Notes and loans - - - -
Due from other governments 120,647 - - -
Restricted assets:
Cash and investments with fiscal agents - - - -
Total Assets 776,638$ 1,969,412$ 3,336,641$ 1,072$
Liabilities and Fund Balances:
Liabilities:
Accounts payable -$ 26,069$ 38,396$ -$
Accrued liabilities - 8,366 5,092 -
Unearned revenues - - - -
Due to other governments - - - -
Due to other funds - - - -
Total Liabilities - 34,435 43,488 -
Deferred Inflows of Resources:
Unavailable revenues - - - -
Total Deferred Inflows of Resources - - - -
Fund Balances:
Restricted for:
Community development projects - - - -
Public safety - - - -
Highways and streets 776,638 1,934,977 3,293,153 1,072
Capital Projects - - - -
Debt service - - - -
Unassigned - - - -
Total Fund Balances 776,638 1,934,977 3,293,153 1,072
Total Liabilities and Fund Balances 776,638$ 1,969,412$ 3,336,641$ 1,072$
Special Revenue Funds
State Gas Tax
Fund
Proposition A
Transit Fund
Proposition C
Transit Fund
Transportation
Grant Fund
70
CITY OF DIAMOND BAR
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Pooled cash and investments
Receivables:
Accounts
Notes and loans
Due from other governments
Restricted assets:
Cash and investments with fiscal agents
Total Assets
Liabilities and Fund Balances:
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Due to other governments
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted for:
Community development projects
Public safety
Highways and streets
Capital Projects
Debt service
Unassigned
Total Fund Balances
Total Liabilities and Fund Balances
(Continued)
1,901,179$ 57,234$ 193,212$ 2,081,201$
158,436 - - -
- - - -
- - 18,078 -
- - - -
2,059,615$ 57,234$ 211,290$ 2,081,201$
18,634$ -$ -$ 2,000$
13,590 - - -
53,781 - - -
- - - -
- - - -
86,005 - - 2,000
- - - -
- - - -
1,973,610 - - -
- - - -
- 57,234 - -
- - 211,290 2,079,201
- - - -
- - - -
1,973,610 57,234 211,290 2,079,201
2,059,615$ 57,234$ 211,290$ 2,081,201$
Special Revenue Funds
Integrated
Waste
Management
Fund
Sewer Mitigation
Fund
Air Quality
Improvement
Fund
Measure M
Local Return
Fund
71
CITY OF DIAMOND BAR
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Pooled cash and investments
Receivables:
Accounts
Notes and loans
Due from other governments
Restricted assets:
Cash and investments with fiscal agents
Total Assets
Liabilities and Fund Balances:
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Due to other governments
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted for:
Community development projects
Public safety
Highways and streets
Capital Projects
Debt service
Unassigned
Total Fund Balances
Total Liabilities and Fund Balances
3,866,102$ 25,001$ -$ 107,482$
- - - -
- - - -
214,974 - 56,599 -
- - - -
4,081,076$ 25,001$ 56,599$ 107,482$
-$ -$ -$ -$
- - - -
- - - -
- - - -
- - 56,599 -
- - 56,599 -
- - 56,599 -
- - 56,599 -
- 25,001 - 107,482
- - - -
4,081,076 - - -
- - - -
- - - -
- - (56,599) -
4,081,076 25,001 (56,599) 107,482
4,081,076$ 25,001$ 56,599$ 107,482$
Special Revenue Funds
Road
Maintenance &
Rehab
Trails &
Bikeways Fund MTA Grant Fund
Beverage Center
Recycling Grant
Fund
72
CITY OF DIAMOND BAR
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Pooled cash and investments
Receivables:
Accounts
Notes and loans
Due from other governments
Restricted assets:
Cash and investments with fiscal agents
Total Assets
Liabilities and Fund Balances:
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Due to other governments
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted for:
Community development projects
Public safety
Highways and streets
Capital Projects
Debt service
Unassigned
Total Fund Balances
Total Liabilities and Fund Balances
(Continued)
28,823$ 1,567,641$ -$ 353,280$
- - - -
- - 432,236 -
- - 78,188 -
- - - -
28,823$ 1,567,641$ 510,424$ 353,280$
-$ -$ 39,858$ -$
- - 2,703 -
- - - -
- - 432,236 -
- - 35,605 -
- - 510,402 -
- - - -
- - - -
28,823 1,567,641 22 -
- - - 353,280
- - - -
- - - -
- - - -
- - - -
28,823 1,567,641 22 353,280
28,823$ 1,567,641$ 510,424$ 353,280$
Special Revenue Funds
Used Oil Block
Grant Fund
Park and Facility
Development
Fund CDBG Fund COPS Fund
73
CITY OF DIAMOND BAR
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Pooled cash and investments
Receivables:
Accounts
Notes and loans
Due from other governments
Restricted assets:
Cash and investments with fiscal agents
Total Assets
Liabilities and Fund Balances:
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Due to other governments
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted for:
Community development projects
Public safety
Highways and streets
Capital Projects
Debt service
Unassigned
Total Fund Balances
Total Liabilities and Fund Balances
8,351$ 659,197$ 1,279,993$ 687,720$
- 17,111 - 19,173
- - - -
- - - -
- - - -
8,351$ 676,308$ 1,279,993$ 706,893$
-$ 219,772$ -$ -$
- 3,954 - -
- - - -
- - - -
- - - -
- 223,726 - -
- - - -
- - - -
- - - 706,893
8,351 - - -
- - 1,279,993 -
- 452,582 - -
- - - -
- - - -
8,351 452,582 1,279,993 706,893
8,351$ 676,308$ 1,279,993$ 706,893$
CLEEP Fund
Landscape
Maintenance
District Fund
Measure R Local
Return Fund PEG Fees Fund
Special Revenue Funds
74
CITY OF DIAMOND BAR
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Pooled cash and investments
Receivables:
Accounts
Notes and loans
Due from other governments
Restricted assets:
Cash and investments with fiscal agents
Total Assets
Liabilities and Fund Balances:
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Due to other governments
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted for:
Community development projects
Public safety
Highways and streets
Capital Projects
Debt service
Unassigned
Total Fund Balances
Total Liabilities and Fund Balances
(Continued)
298,085$ 45,473$ -$ 336,939$
37,343 - - -
- - - -
- - 184,000 -
- - - -
335,428$ 45,473$ 184,000$ 336,939$
-$ -$ -$ -$
- - - -
- - 184,000 -
- 19,142 - -
- - 184,000 -
- 19,142 368,000 -
- - - -
- - - -
- 26,331 - -
- - - -
335,428 - - 336,939
- - - -
- - - -
- - (184,000) -
335,428 26,331 (184,000) 336,939
335,428$ 45,473$ 184,000$ 336,939$
Special Revenue Funds
Waste Hauler
Fund
CASP Fees
(SB1186)
Measure A
Neighborhood
Park Acts Fund
Street
Beautification
75
CITY OF DIAMOND BAR
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Pooled cash and investments
Receivables:
Accounts
Notes and loans
Due from other governments
Restricted assets:
Cash and investments with fiscal agents
Total Assets
Liabilities and Fund Balances:
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Due to other governments
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted for:
Community development projects
Public safety
Highways and streets
Capital Projects
Debt service
Unassigned
Total Fund Balances
Total Liabilities and Fund Balances
Debt Service
Fund
-$ 1,587,046$ 5,187$ -$
- - - -
- - - -
- - - -
- - - 1,561
-$ 1,587,046$ 5,187$ 1,561$
-$ 11,110$ -$ -$
- 3,098 - -
- - - -
- - - -
92 - - -
92 14,208 - -
- - - -
- - - -
- - - -
- - 5,187 -
- 1,572,838 - -
- - - -
- - - 1,561
(92) - - -
(92) 1,572,838 5,187 1,561
-$ 1,587,046$ 5,187$ 1,561$
Special Revenue Funds
Local Roadway
Safety Plan Fund
Measure W
Local Return
Fund
Hazard
Mitigation Grant
Fund
Public
Financing
Authority
76
CITY OF DIAMOND BAR
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2023
Assets:
Pooled cash and investments
Receivables:
Accounts
Notes and loans
Due from other governments
Restricted assets:
Cash and investments with fiscal agents
Total Assets
Liabilities and Fund Balances:
Liabilities:
Accounts payable
Accrued liabilities
Unearned revenues
Due to other governments
Due to other funds
Total Liabilities
Deferred Inflows of Resources:
Unavailable revenues
Total Deferred Inflows of Resources
Fund Balances:
Restricted for:
Community development projects
Public safety
Highways and streets
Capital Projects
Debt service
Unassigned
Total Fund Balances
Total Liabilities and Fund Balances
Total
Governmental
Funds
21,052,262$
232,063
432,236
672,486
1,561
22,390,608$
355,839$
36,803
237,781
451,378
276,296
1,358,097
56,599
56,599
4,435,803
366,818
13,669,348
2,743,073
1,561
(240,691)
20,975,912
22,390,608$
77
CITY OF DIAMOND BAR
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended June 30, 2023
Revenues:
Taxes -$ -$ -$ -$
Licenses and permits - - - -
Intergovernmental 1,379,323 1,490,789 1,236,567 -
Charges for services - 67,550 - -
Use of money and property 13,531 29,543 35,603 -
Miscellaneous - - - -
Total Revenues 1,392,854 1,587,882 1,272,170 -
Expenditures:
Current:
General government - - - -
Public safety - - - -
Community development - - - -
Parks and recreation - 14,744 - -
Public works - 576,373 470,587 -
Capital outlay - - - -
Debt service:
Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures - 591,117 470,587 -
Excess (Deficiency) of Revenues
Over (Under) Expenditures 1,392,854 996,765 801,583 -
Other Financing Sources (Uses):
Transfers in - - - -
Transfers out (1,112,262) (1,099,657) (221,606) -
Total Other Financing Sources
(Uses)(1,112,262) (1,099,657) (221,606) -
Net Change in Fund Balances 280,592 (102,892) 579,977 -
Fund Balances, Beginning of Year 496,046 2,037,869 2,713,176 1,072
Fund Balances, End of Year 776,638$ 1,934,977$ 3,293,153$ 1,072$
Special Revenue Funds
State Gas Tax
Fund
Proposition A
Transit Fund
Proposition C
Transit Fund
Transportation
Grant Fund
78
CITY OF DIAMOND BAR
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended June 30, 2023
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
(Continued)
-$ -$ -$ -$
- - - -
27,180 - 93,387 1,048,814
636,165 - - -
- 668 2,697 33,112
16,181 - - -
679,526 668 96,084 1,081,926
- - - -
- - - -
512,386 - - -
- - - -
- - - 44,047
- - 115,262 -
- - - -
- - - -
512,386 - 115,262 44,047
167,140 668 (19,178) 1,037,879
- - - -
- - - (1,400,525)
- - - (1,400,525)
167,140 668 (19,178) (362,646)
1,806,470 56,566 230,468 2,441,847
1,973,610$ 57,234$ 211,290$ 2,079,201$
Special Revenue Funds
Integrated Waste
Management
Fund
Sewer Mitigation
Fund
Air Quality
Improvement
Fund
Measure M Local
Return Fund
79
CITY OF DIAMOND BAR
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended June 30, 2023
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
-$ -$ -$ -$
- - - -
1,226,816 38,689 - 13,817
- - - -
42,274 - - 1,165
- - - -
1,269,090 38,689 - 14,982
- - - -
- - - -
- - - 4,428
- - - -
- - - -
- - - -
- - - -
- - - -
- - - 4,428
1,269,090 38,689 - 10,554
- - - -
(407,353) (16,617) - -
(407,353) (16,617) - -
861,737 22,072 - 10,554
3,219,339 2,929 (56,599) 96,928
4,081,076$ 25,001$ (56,599)$ 107,482$
Special Revenue Funds
Road
Maintenance &
Rehab
Trails &
Bikeways Fund MTA Grant Fund
Beverage Center
Recycling Grant
Fund
80
CITY OF DIAMOND BAR
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended June 30, 2023
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
(Continued)
-$ -$ -$ -$
- - - -
8,557 708,785 293,720 165,271
- - - -
292 11,708 - 5,051
- - - -
8,849 720,493 293,720 170,322
- - - -
- - - 4,600
6,274 - 129,305 -
- - 10,538 -
- - - -
- - - -
- - - -
- - - -
6,274 - 139,843 4,600
2,575 720,493 153,877 165,722
- - - -
- (26,488) (153,693) (150,000)
- (26,488) (153,693) (150,000)
2,575 694,005 184 15,722
26,248 873,636 (162) 337,558
28,823$ 1,567,641$ 22$ 353,280$
Special Revenue Funds
CDBG Fund COPS Fund
Used Oil Block
Grant Fund
Park and Facility
Development
Fund
81
CITY OF DIAMOND BAR
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended June 30, 2023
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
-$ 1,182,584$ -$ 79,799$
- - - -
- - 927,158 -
- - - -
98 - 24,285 7,429
- - - -
98 1,182,584 951,443 87,228
- - - 2,114
- - - -
- - - -
- - - -
- 964,612 - -
- - - -
- - - -
- - - -
- 964,612 - 2,114
98 217,972 951,443 85,114
- 106,242 - -
- (62,764) (1,375,043) -
- 43,478 (1,375,043) -
98 261,450 (423,600) 85,114
8,253 191,132 1,703,593 621,779
8,351$ 452,582$ 1,279,993$ 706,893$
Special Revenue Funds
Measure R Local
Return Fund PEG Fees Fund CLEEP Fund
Landscape
Maintenance
District Fund
82
CITY OF DIAMOND BAR
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended June 30, 2023
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
(Continued)
-$ -$ -$ -$
132,048 - - -
- - - -
- - - -
3,939 478 - 3,940
- - - -
135,987 478 - 3,940
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
135,987 478 - 3,940
- - - -
(134,412) - (184,000) -
(134,412) - (184,000) -
1,575 478 (184,000) 3,940
333,853 25,853 - 332,999
335,428$ 26,331$ (184,000)$ 336,939$
Special Revenue Funds
Street
Beautification
Waste Hauler
Fund
CASP Fees
(SB1186)
Measure A
Neighborhood
Park Acts Fund
83
CITY OF DIAMOND BAR
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended June 30, 2023
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
Debt Service
Fund
-$ -$ -$ -$
- - - -
- 837,850 3,707 -
- - - -
- 17,436 63 1,870
- - - -
- 855,286 3,770 1,870
- - - -
- - - -
- - - -
- - - -
- 200,085 - -
- - - -
- - - 465,000
- - - 254,200
- 200,085 - 719,200
- 655,201 3,770 (717,330)
- - - 718,816
- (230,455) - -
- (230,455) - 718,816
- 424,746 3,770 1,486
(92) 1,148,092 1,417 75
(92)$ 1,572,838$ 5,187$ 1,561$
Special Revenue Funds
Public Financing
Authority
Local Roadway
Safety Plan Fund
Measure W Local
Return Fund
Hazard
Mitigation Grant
Fund
84
CITY OF DIAMOND BAR
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended June 30, 2023
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total Revenues
Expenditures:
Current:
General government
Public safety
Community development
Parks and recreation
Public works
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers in
Transfers out
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
Total
Governmental
Funds
1,262,383$
132,048
9,500,430
703,715
235,182
16,181
11,849,939
2,114
4,600
652,393
25,282
2,255,704
115,262
465,000
254,200
3,774,555
8,075,384
825,058
(6,574,875)
(5,749,817)
2,325,567
18,650,345
20,975,912$
85
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
State Gas Tax Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 496,046$ 496,046$ 496,046$ -$
Resources (Inflows):
Intergovernmental 1,640,406 1,640,406 1,379,323 (261,083)
Use of money and property 1,800 1,800 13,531 11,731
Total Resources 1,642,206 1,642,206 1,392,854 (249,352)
Amounts Available for Appropriations 2,138,252 2,138,252 1,888,900 (249,352)
Charges to Appropriations (Outflow):
Transfers out 1,563,000 1,702,000 1,112,262 589,738
Total Charges to Appropriations 1,563,000 1,702,000 1,112,262 589,738
Budgetary Fund Balance, June 30 575,252$ 436,252$ 776,638$ 340,386$
86
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Proposition A Transit Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 2,037,869$ 2,037,869$ 2,037,869$ -$
Resources (Inflows):
Intergovernmental 1,383,713 1,383,713 1,490,789 107,076
Charges for services 200,000 200,000 67,550 (132,450)
Use of money and property 2,700 2,700 29,543 26,843
Total Resources 1,586,413 1,586,413 1,587,882 1,469
Amounts Available for Appropriations 3,624,282 3,624,282 3,625,751 1,469
Charges to Appropriations (Outflow):
Parks and recreation 12,000 25,000 14,744 10,256
Public works 1,017,024 1,004,024 576,373 427,651
Transfers out 270,000 1,200,000 1,099,657 100,343
Total Charges to Appropriations 1,299,024 2,229,024 1,690,774 538,250
Budgetary Fund Balance, June 30 2,325,258$ 1,395,258$ 1,934,977$ 539,719$
87
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Proposition C Transit Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 2,713,176$ 2,713,176$ 2,713,176$ -$
Resources (Inflows):
Intergovernmental 1,147,753 1,147,753 1,236,567 88,814
Use of money and property 9,500 9,500 35,603 26,103
Total Resources 1,157,253 1,157,253 1,272,170 114,917
Amounts Available for Appropriations 3,870,429 3,870,429 3,985,346 114,917
Charges to Appropriations (Outflow):
Public works 550,742 550,742 470,587 80,155
Transfers out 361,000 1,200,002 221,606 978,396
Total Charges to Appropriations 911,742 1,750,744 692,193 1,058,551
Budgetary Fund Balance, June 30 2,958,687$ 2,119,685$ 3,293,153$ 1,173,468$
88
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Integrated Waste Management Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,806,470$ 1,806,470$ 1,806,470$ -$
Resources (Inflows):
Intergovernmental - - 27,180 27,180
Charges for services 572,267 572,267 636,165 63,898
Use of money and property 14,700 14,700 - (14,700)
Miscellaneous 89,936 89,936 16,181 (73,755)
Total Resources 676,903 676,903 679,526 2,623
Amounts Available for Appropriations 2,483,373 2,483,373 2,485,996 2,623
Charges to Appropriations (Outflow):
Community development 697,852 796,292 512,386 283,906
Transfers out 10,000 10,000 - 10,000
Total Charges to Appropriations 707,852 806,292 512,386 293,906
Budgetary Fund Balance, June 30 1,775,521$ 1,677,081$ 1,973,610$ 296,529$
89
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Sewer Mitigation Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 56,566$ 56,566$ 56,566$ -$
Resources (Inflows):
Use of money and property 400 400 668 268
Amounts Available for Appropriations 56,966 56,966 57,234 268
Budgetary Fund Balance, June 30 56,966$ 56,966$ 57,234$ 268$
90
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Air Quality Improvement Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 230,468$ 230,468$ 230,468$ -$
Resources (Inflows):
Intergovernmental 75,000 75,000 93,387 18,387
Use of money and property 1,000 1,000 2,697 1,697
Total Resources 76,000 76,000 96,084 20,084
Amounts Available for Appropriations 306,468 306,468 326,552 20,084
Charges to Appropriations (Outflow):
Capital outlay 132,000 132,000 115,262 16,738
Transfers out 67,000 67,000 - 67,000
Total Charges to Appropriations 199,000 199,000 115,262 83,738
Budgetary Fund Balance, June 30 107,468$ 107,468$ 211,290$ 103,822$
91
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Road Maintenance & Rehab
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 3,219,339$ 3,219,339$ 3,219,339$ -$
Resources (Inflows):
Intergovernmental 1,292,845 1,292,845 1,226,816 (66,029)
Use of money and property 12,900 12,900 42,274 29,374
Total Resources 1,305,745 1,305,745 1,269,090 (36,655)
Amounts Available for Appropriations 4,525,084 4,525,084 4,488,429 (36,655)
Charges to Appropriations (Outflow):
Transfers out 400,000 1,677,457 407,353 1,270,104
Total Charges to Appropriations 400,000 1,677,457 407,353 1,270,104
Budgetary Fund Balance, June 30 4,125,084$ 2,847,627$ 4,081,076$ 1,233,449$
92
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Trails & Bikeways Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 2,929$ 2,929$ 2,929$ -$
Resources (Inflows):
Intergovernmental 53,399 53,399 38,689 (14,710)
Total Resources 53,399 53,399 38,689 (14,710)
Amounts Available for Appropriations 56,328 56,328 41,618 (14,710)
Charges to Appropriations (Outflow):
Transfers out - 16,890 16,617 273
Total Charges to Appropriations - 16,890 16,617 273
Budgetary Fund Balance, June 30 56,328$ 39,438$ 25,001$ (14,437)$
93
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Beverage Center Recycling Grant Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 96,928$ 96,928$ 96,928$ -$
Resources (Inflows):
Intergovernmental 14,337 14,337 13,817 (520)
Use of money and property 600 600 1,165 565
Total Resources 14,937 14,937 14,982 45
Amounts Available for Appropriations 111,865 111,865 111,910 45
Charges to Appropriations (Outflow):
Community development 14,300 14,300 4,428 9,872
Total Charges to Appropriations 14,300 14,300 4,428 9,872
Budgetary Fund Balance, June 30 97,565$ 97,565$ 107,482$ 9,917$
94
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Used Oil Block Grant Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 26,248$ 26,248$ 26,248$ -$
Resources (Inflows):
Intergovernmental 6,974 6,974 8,557 1,583
Use of money and property 200 200 292 92
Total Resources 7,174 7,174 8,849 1,675
Amounts Available for Appropriations 33,422 33,422 35,097 1,675
Charges to Appropriations (Outflow):
Community development 10,400 10,400 6,274 4,126
Total Charges to Appropriations 10,400 10,400 6,274 4,126
Budgetary Fund Balance, June 30 23,022$ 23,022$ 28,823$ 5,801$
95
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Park and Facility Development Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 873,636$ 873,636$ 873,636$ -$
Resources (Inflows):
Intergovernmental - - 708,785 708,785
Use of money and property 7,800 7,800 11,708 3,908
Total Resources 7,800 7,800 720,493 712,693
Amounts Available for Appropriations 881,436 881,436 1,594,129 712,693
Charges to Appropriations (Outflow):
Transfers out 717,000 738,111 26,488 711,623
Total Charges to Appropriations 717,000 738,111 26,488 711,623
Budgetary Fund Balance, June 30 164,436$ 143,325$ 1,567,641$ 1,424,316$
96
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Community Development Block Grant (CDBG Fund)
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 (162)$ (162)$ (162)$ -$
Resources (Inflows):
Intergovernmental 295,819 373,046 293,720 (79,326)
Total Resources 295,819 373,046 293,720 (79,326)
Amounts Available for Appropriations 295,657 372,884 293,558 (79,326)
Charges to Appropriations (Outflow):
Community development 233,387 255,353 129,305 126,048
Parks and recreation 17,890 17,890 10,538 7,352
Transfers out 184,000 372,310 153,693 218,617
Total Charges to Appropriations 435,277 645,553 293,536 352,017
Budgetary Fund Balance, June 30 (139,620)$ (272,669)$ 22$ 272,691$
97
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Citizens Option for Public Safety (COPS) Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 337,558$ 337,558$ 337,558$ -$
Resources (Inflows):
Intergovernmental 150,000 150,000 165,271 15,271
Use of money and property 3,200 3,200 5,051 1,851
Total Resources 153,200 153,200 170,322 17,122
Amounts Available for Appropriations 490,758 490,758 507,880 17,122
Charges to Appropriations (Outflow):
Public safety 10,000 10,000 4,600 5,400
Transfers out 152,500 152,500 150,000 2,500
Total Charges to Appropriations 162,500 162,500 154,600 7,900
Budgetary Fund Balance, June 30 328,258$ 328,258$ 353,280$ 25,022$
98
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
California Law Enforcement Equipment Program (CLEEP) Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 8,253$ 8,253$ 8,253$ -$
Resources (Inflows):
Use of money and property 100 100 98 (2)
Total Resources 100 100 98 (2)
Amounts Available for Appropriations 8,353 8,353 8,351 (2)
Charges to Appropriations (Outflow):
Transfers out 325 325 - 325
Total Charges to Appropriations 325 325 - 325
Budgetary Fund Balance, June 30 8,028$ 8,028$ 8,351$ 323$
99
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Landscape Maintenance District Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 191,132$ 191,132$ 191,132$ -$
Resources (Inflows):
Taxes 1,182,904 1,182,904 1,182,584 (320)
Transfers in 212,118 212,118 106,242 (105,876)
Total Resources 1,395,022 1,395,022 1,288,826 (106,196)
Amounts Available for Appropriations 1,586,154 1,586,154 1,479,958 (106,196)
Charges to Appropriations (Outflow):
Public works 1,335,140 1,303,941 964,612 339,329
Transfers out - 63,100 62,764 336
Total Charges to Appropriations 1,335,140 1,367,041 1,027,376 339,665
Budgetary Fund Balance, June 30 251,014$ 219,113$ 452,582$ 233,469$
100
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Measure R Local Return Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,703,593$ 1,703,593$ 1,703,593$ -$
Resources (Inflows):
Intergovernmental 860,815 860,815 927,158 66,343
Use of money and property 4,500 4,500 24,285 19,785
Total Resources 865,315 865,315 951,443 86,128
Amounts Available for Appropriations 2,568,908 2,568,908 2,655,036 86,128
Charges to Appropriations (Outflow):
Transfers out 1,450,000 2,350,000 1,375,043 974,957
Total Charges to Appropriations 1,450,000 2,350,000 1,375,043 974,957
Budgetary Fund Balance, June 30 1,118,908$ 218,908$ 1,279,993$ 1,061,085$
101
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
PEG Fees Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 621,779$ 621,779$ 621,779$ -$
Resources (Inflows):
Taxes 100,000 100,000 79,799 (20,201)
Use of money and property 3,800 3,800 7,429 3,629
Total Resources 103,800 103,800 87,228 (16,572)
Amounts Available for Appropriations 725,579 725,579 709,007 (16,572)
Charges to Appropriations (Outflow):
General government 100,000 100,000 2,114 97,886
Transfers out 300,000 300,000 - 300,000
Total Charges to Appropriations 400,000 400,000 2,114 397,886
Budgetary Fund Balance, June 30 325,579$ 325,579$ 706,893$ 381,314$
102
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Hazard Mitigation Grant Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,417$ 1,417$ 1,417$ -$
Resources (Inflows):
Intergovernmental 22,500 22,500 3,707 (18,793)
Use of money and property - - 63 63
Total Resources 22,500 22,500 3,770 (18,730)
Amounts Available for Appropriations 23,917 23,917 5,187 (18,730)
Budgetary Fund Balance, June 30 23,917$ 23,917$ 5,187$ (18,730)$
103
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Waste Hauler Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 333,853$ 333,853$ 333,853$ -$
Resources (Inflows):
Licenses and permits 152,437 152,437 132,048 (20,389)
Use of money and property 1,300 1,300 3,939 2,639
Total Resources 153,737 153,737 135,987 (17,750)
Amounts Available for Appropriations 487,590 487,590 469,840 (17,750)
Charges to Appropriations (Outflow):
Transfers out 146,000 282,000 134,412 147,588
Total Charges to Appropriations 146,000 282,000 134,412 147,588
Budgetary Fund Balance, June 30 341,590$ 205,590$ 335,428$ 129,838$
104
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
CASP Fees (SB1186)
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 25,853$ 25,853$ 25,853$ -$
Resources (Inflows):
Licenses and permits 8,000 8,000 - (8,000)
Use of money and property 200 200 478 278
Total Resources 8,200 8,200 478 (7,722)
Amounts Available for Appropriations 34,053 34,053 26,331 (7,722)
Budgetary Fund Balance, June 30 34,053$ 34,053$ 26,331$ (7,722)$
105
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Measure A Neighborhood Parks Acts Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 -$ -$ -$ -$
Resources (Inflows):
Intergovernmental 185,000 185,000 - (185,000)
Total Resources 185,000 185,000 - (185,000)
Amounts Available for Appropriations 185,000 185,000 - (185,000)
Charges to Appropriations (Outflow):
Transfers out - 185,000 184,000 1,000
Total Charges to Appropriations - 185,000 184,000 1,000
Budgetary Fund Balance, June 30 185,000$ -$ (184,000)$ (184,000)$
106
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Street Beautification Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 332,999$ 332,999$ 332,999$ -$
Resources (Inflows):
Use of money and property 2,400 2,400 3,940 1,540
Amounts Available for Appropriations 335,399 335,399 336,939 1,540
Budgetary Fund Balance, June 30 335,399$ 335,399$ 336,939$ 1,540$
107
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Measure W Local Return Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,148,092$ 1,148,092$ 1,148,092$ -$
Resources (Inflows):
Intergovernmental 850,000 850,000 837,850 (12,150)
Use of money and property - - 17,436 17,436
Total Resources 850,000 850,000 855,286 5,286
Amounts Available for Appropriations 1,998,092 1,998,092 2,003,378 5,286
Charges to Appropriation (Outflow):
Public works 435,878 435,878 200,085 235,793
Transfers out 775,000 964,210 230,455 733,755
Total Charges to Appropriations 1,210,878 1,400,088 430,540 969,548
Budgetary Fund Balance, June 30 787,214$ 598,004$ 1,572,838$ 974,834$
108
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Measure M Local Return Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 2,441,847$ 2,441,847$ 2,441,847$ -$
Resources (Inflows):
Intergovernmental 975,590 975,590 1,048,814 73,224
Use of money and property 7,400 7,400 33,112 25,712
Total Resources 982,990 982,990 1,081,926 98,936
Amounts Available for Appropriations 3,424,837 3,424,837 3,523,773 98,936
Charges to Appropriations (Outflow):
Public works 55,000 55,000 44,047 10,953
Transfers out 1,860,000 3,249,461 1,400,525 1,848,936
Total Charges to Appropriations 1,915,000 3,304,461 1,444,572 1,859,889
Budgetary Fund Balance, June 30 1,509,837$ 120,376$ 2,079,201$ 1,958,825$
109
CITY OF DIAMOND BAR
Budgetary Comparison Schedule
Capital Improvement Fund
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 (130,575)$ (130,575)$ (130,575)$ -$
Resources (Inflows):
Intergovernmental 213,000 634,342 28,312 (606,030)
Miscellaneous - - 1,559 1,559
Transfers in 9,147,000 15,626,635 6,410,629 (9,216,006)
Fiscal Year Ending June 30, 2022 subtotal 9,360,000 16,260,977 6,440,500 (9,820,477)
Amounts Available for Appropriations 9,229,425 16,130,402 6,309,925 (9,820,477)
Charges to Appropriations (Outflow):
Capital outlay 9,360,000 16,092,950 6,795,028 9,297,922
Total Charges to Appropriations 9,360,000 16,092,950 6,795,028 9,297,922
Budgetary Fund Balance, June 30 (130,575)$ 37,452$ (485,103)$ (522,555)$
110
CITY OF DIAMOND BAR
Budetary Comparison Schedule
Public Financing Authority
Year Ended June 30, 2023
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 75$ 75$ 75$ -$
Resources (Inflows):
Use of money and property 300 300 1,870 1,570
Transfers in 719,400 719,400 718,816 (584)
Fiscal Year Ending June 30, 2022 subtotal 719,700 719,700 720,686 986
Amounts Available for Appropriations 719,775 719,775 720,761 986
Charges to Appropriations (Outflow):
Debt service:
Principal retirement 465,000 465,000 465,000 -
Interest and fiscal charges 254,700 254,700 254,200 500
Total Charges to Appropriations 719,700 719,700 719,200 500
Budgetary Fund Balance, June 30 75$ 75$ 1,561$ 1,486$
111
CITY OF DIAMOND BAR
Combining Statement of Net Position
Internal Service Funds
June 30, 2023
Totals
Assets:
Current:
Cash and investments 954,264$ 319,607$ 2,076,849$ 1,117,008$ 4,467,728$
Due from other governments 49,787 - 19,301 - 69,088
Total Current Assets 1,004,051 319,607 2,096,150 1,117,008 4,536,816
Noncurrent:
Capital assets - net of accumulated depreciation - 49,336 811,965 48,700 910,001
Total Noncurrent Assets - 49,336 811,965 48,700 910,001
Total Assets 1,004,051$ 368,943$ 2,908,115$ 1,165,708$ 5,446,817$
Liabilities:
Current:
Accounts payable -$ 2,743$ 63,722$ 54,557$ 121,022$
Due to other governments 49,074 - - - 49,074
.
Total Current Liabilities 49,074 2,743 63,722 54,557 170,096
Total Liabilities 49,074 2,743 63,722 54,557 170,096
Net Position:
Invested in capital assets - 49,336 811,965 48,700 910,001
Unrestricted 954,977 316,864 2,032,428 1,062,451 4,366,720
Total Net Position 954,977 366,200 2,844,393 1,111,151 5,276,721
1,004,051$ 368,943$ 2,908,115$ 1,165,708$ 5,446,817$
Governmental Activities - Internal Service Funds
Self Insurance
Fund
Equipment
Replacement
Fund
Computer
Equipment
Replacement
Fund
Building
Facility &
Maintenance
Fund
Liabilities and Net Position:
Total Liabilities and Net Position
112
CITY OF DIAMOND BAR
Combining Statement of Revenues, Expenses
and Changes in Fund Net Position
Internal Service Funds
Year Ended June 30, 2023
Totals
Operating Expenses:
Insurance premiums 510,516 -$ -$ -$ 510,516$
Equipment repair and maintenance - 77,797 301,581 139,030 518,408
Depreciation and amortization expense - 36,275 187,558 4,592 228,425
Total Operating Expenses 510,516 114,072 489,139 143,622 1,257,349
Operating Income (Loss)(510,516) (114,072) (489,139) (143,622) (1,257,349)
Nonoperating Revenues (Expenses):
Interest revenue 6,467 3,038 13,307 13,999 36,811
Contributions - - 19,301 - 19,301
Total Nonoperating
Revenues (Expenses)6,467 3,038 32,608 13,999 56,112
Income (Loss) Before Transfers (504,049) (111,034) (456,531) (129,623) (1,201,237)
Transfers in 460,360 160,650 1,276,023 100,000 1,997,033
Transfers out - - - (65,000) (65,000)
Changes in Net Position (43,689) 49,616 819,492 (94,623) 730,796
Net Position:
Beginning of Fiscal Year 998,666 316,584 2,024,901 1,205,774 4,545,925
End of Fiscal Year 954,977$ 366,200$ 2,844,393$ 1,111,151$ 5,276,721$
Governmental Activities - Internal Service Funds
Self Insurance
Fund
Equipment
Replacement
Fund
Computer
Equipment
Replacement
Fund
Building
Facility &
Maintenance
Fund
113
CITY OF DIAMOND BAR
Combining Statement of Cash Flows
Internal Service Funds
Year Ended June 30, 2023
Totals
Cash Flows from Operating Activities:
Insurance premiums paid (510,516)$ -$ -$ -$ (510,516)$
Payments to suppliers (79,138) (240,174) (86,468) (405,780)
Net Cash Provided (Used) by Operating Activities (510,516) (79,138) (240,174) (86,468) (916,296)
Cash Flows from Non-Capital
Financing Activities:
Cash transfers out - - - (65,000) (65,000)
Cash transfers in 460,360 160,650 1,276,023 100,000 1,997,033 Contributions -
Net Cash Provided (Used) by
Non-Capital Financing Activities 460,360 160,650 1,276,023 35,000 1,932,033
Cash Flows from Capital
and Related Financing Activities:
Acquisition and construction of capital assets - - (43,308) (12,126) (55,434)
Net Cash Provided (Used) by
Capital and Related Financing Activities - - (43,308) (12,126) (55,434)
Cash Flows from Investing Activities:
Interest received 6,467 3,038 13,307 13,999 36,811
Net Cash Provided (Used) by
Investing Activities 6,467 3,038 13,307 13,999 36,811
Net Increase (Decrease) in Cash
and Cash Equivalents (43,689) 84,550 1,005,848 (49,595) 997,114
Cash and Cash Equivalents at Beginning of Year 997,953 235,057 1,071,001 1,166,603 3,470,614
Cash and Cash Equivalents at End of Year 954,264$ 319,607$ 2,076,849$ 1,117,008$ 4,467,728$
Reconciliation of Operating Income to Net Cash
Provided (Used) by Operating Activities:
Operating income (loss)(510,516)$ (114,072)$ (489,139)$ (143,622)$ (1,257,349)$
Adjustments to Reconcile Operating Income (Loss)
Net Cash Provided (Used) by Operating Activities:
Depreciation - 36,275 187,558 4,592 228,425
Increase (decrease) in accounts payable - (1,341) 61,407 52,562 112,628
Total Adjustments - 34,934 248,965 57,154 341,053
Net Cash Provided (Used) by
Operating Activities (510,516)$ (79,138)$ (240,174)$ (86,468)$ (916,296)$
Governmental Activities - Internal Service Funds
Self Insurance
Fund
Equipment
Replacement
Fund
Computer
Equipment
Replacement
Fund
Building
Facility &
Maintenance
Fund
114
DESCRIPTION OF STATISTICAL SECTION CONTENTS
June 30, 2023
This part of the City of Diamond Bar's annual comprehensive financial report presents detailed
information as a context for understanding what the information in the financial statements, note
disclosures, and required supplementary information say about the government's overall financial health.
Contents: Schedules
Financial Trends - These schedules contain trend information to help the reader
understand how the city's financial performance and well-being have changed over
time.
Revenue Capacity - These schedules contain information to help the reader assess
the city's most significant local revenue source, the property tax.
Debt Capacity - These schedules present information to help the reader assess the
affordability of the City's current levels of outstanding debt and the City's ability to
issue additional debt in the future.
Demographic and Economic Information - These schedules offer demographic and
economic indicators to help the reader understand the environment within which the
City's financial activities take place.
Operating Information - These schedules contain service and infrastructure data to
help the reader understand how the information in the City's financial report relates
to the services the City provides and the activities it performs.
1 - 4
5 - 9
10 - 12
13 - 14
15 – 17
Capital Asset Statistics by Function 18
115
THIS PAGE INTENTIONALLY LEFT BLANK
116
Fiscal Year 2019 2020 2021 2022 2023
Governmental activities:
Net investment in capital assets 350,017,830$ 345,260,286$ 339,727,186$ 332,972,933$ 331,607,485$
Restricted for:
Capital projects 655,124 944,561 1,724,690 2,863,447 2,743,073
Community development 2,137,080 2,086,977 3,100,228 3,453,843 4,435,781
Public safety 286,848 346,066 346,594 347,228 366,818
Public works 10,721,764 11,874,243 13,772,296 19,187,254 21,761,109
Debt service 361 19 22,776 75 1,561
Other Post Employment Benefits(OPEB)- - - 353,283 0
Unrestricted 21,083,148 21,513,688 23,604,159 28,511,364 33,831,520
Total governmental activities net position 384,902,155$ 382,025,840$ 382,297,929$ 387,689,427$ 394,747,347$
Fiscal Year 2014 2015 2016 2017 2018
Governmental activities:
Net investment in capital assets 372,068,596$ 368,779,901$ 363,216,277$ 358,765,476$ 354,824,312$
Restricted for:
Capital projects 135,914 207,205 267,984 184,074 356,711
Community development 1,174,082 1,482,522 2,382,667 2,066,650 1,907,215
Public safety 140,747 171,928 193,941 243,642 235,752
Public works 4,015,113 3,862,123 4,465,023 3,095,734 3,268,495
Debt service 4 3 29 80 199
Other Post Employment Benefits(OPEB)- - - - -
Unrestricted 20,894,700 20,659,058 22,742,992 23,047,078 21,270,741
Total governmental activities net position 398,429,156$ 395,162,740$ 393,268,913$ 387,402,734$ 381,863,425$
Source:
City Finance Department
City of Diamond Bar
Net Assets by Component
Last Ten Fiscal Years
(accrual basis of accounting)
117
2014 2015 2016 2017 2018
Expenses:
Governmental Activities:
General government 7,301,502$ 6,524,968$ 5,812,525$ 6,627,894$ 6,926,331$
Public safety 5,627,026 5,929,156 6,216,279 6,586,188 6,904,971
Public works 10,599,386 10,225,922 11,966,721 14,178,723 14,612,857
Community development 2,346,073 2,587,504 2,127,206 3,231,764 3,083,101
Parks and recreation 6,463,192 6,300,920 6,137,787 5,164,413 5,532,810
Interest on long-term debt 477,201 466,662 455,700 443,480 423,400
Contribution to OPEB Trust - - 84,761 84,761 84,591
Total Primary Government 32,814,380 32,035,132 32,800,979 36,317,223 37,568,061
Program Revenues:
Governmental Activities:
Charges for services
General Government 770,908 587,081 661,910 811,846 619,147
Public safety 559,008 523,145 470,722 460,325 459,615
Public works 2,671,741 5,536,984 4,389,876 2,675,313 3,782,259
Community development 1,413,094 2,463,932 1,820,325 2,077,810 2,023,466
Parks, recreation and culture 1,804,189 1,758,319 1,684,814 1,544,002 1,648,945
Operating grants and contributions 4,203,990 4,443,765 3,687,015 3,844,192 4,120,526
Capital grants and contributions 207,971 717,961 1,455,770 359,669 159,258
Total Governmental Activities
Program Revenues 11,630,901 16,031,187 14,170,432 11,773,157 12,813,216
General Revenues:
Taxes
Property taxes 4,307,077 4,448,566 4,665,140 4,951,033 5,187,630
Transient occupancy taxes 851,249 935,355 994,476 923,527 1,019,915
Sales taxes 3,658,327 3,974,564 4,598,858 4,789,172 4,999,873
Franchise taxes 1,393,584 1,460,342 1,431,513 1,320,617 1,419,605
Other taxes 471,455 442,914 523,015 394,961 509,322
Unrestricted Motor vehicle in lieu 4,862,100 5,133,910 5,411,143 5,757,423 6,011,177
Use of money and property 256,758 244,275 524,918 58,160 67,046
Other revenues 52,891 114,545 703,457 482,994 161,145
Loss on disposal of capital asset 1,328,681 - - - -
Total General Revenues 17,182,122 16,754,471 18,852,520 18,677,887 19,375,713
Change in Net Position (4,001,357) 750,526 221,973 (5,866,179) (5,379,132)
Net Position at Beginning of Year 402,430,513 398,429,156 395,162,740 393,268,913 387,402,734
Restatement of Net Position - (4,016,942) (2,115,800) - (160,177)
Net Position at End of Year 398,429,156$ 395,162,740$ 393,268,913$ 387,402,734$ 381,863,425$
Source:
City Finance Department
City of Diamond Bar
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
118
2019 2020 2021 2022 2023
8,990,203$ 6,693,192$ 7,810,434$ 7,210,304$ 8,377,284$
7,142,733 7,371,290 7,401,924 7,993,744 8,149,425
13,644,523 14,435,606 11,626,695 11,641,746 12,621,030
3,069,374 3,138,506 3,128,813 2,579,271 3,663,339
6,149,343 5,188,798 3,802,025 3,903,018 4,481,255
402,671 385,006 392,652 192,897 145,302
87,128 88,000 - - -
39,485,975 37,300,398 34,162,543 33,520,980 37,437,635
1,248,171 431,216 642,791 94,571 114,485
415,701 432,774 263,147 436,610 383,058
9,797,871 2,312,413 2,881,793 3,265,094 3,452,701
2,110,515 1,914,403 2,260,454 2,270,878 2,450,481
1,347,448 848,675 319,896 1,079,941 1,583,261
5,651,932 4,938,893 5,919,399 9,745,284 9,630,820
12,595 1,098,879 302,616 - 853,518
20,584,233 11,977,253 12,590,096 16,892,378 18,468,324
5,405,335 5,590,899 5,873,328 12,814,147 13,650,877
1,222,925 1,128,386 797,785 1,359,842 1,462,904
4,970,980 4,846,330 5,106,920 6,127,593 6,598,953
1,355,003 1,340,960 1,390,250 1,308,250 1,687,104
1,062,003 1,070,672 1,105,651 1,400,481 1,540,855
6,285,504 6,545,989 6,804,019 65,523 56,347
1,397,727 1,378,227 121,612 (895,646) 863,861
240,995 139,321 258,910 136,203 166,330
- - - - -
21,940,472 22,040,784 21,458,475 22,316,393 26,027,231
3,038,730 (3,282,361) (113,972) 5,687,791 7,057,920
381,863,425 384,902,155 382,025,840 382,297,929 387,689,427
- 406,046 386,061 (296,293) -
384,902,155$ 382,025,840$ 382,297,929$ 387,689,427$ 394,747,347$
119
General fund:2014 2015 2016 2017 2018
Nonspendable:
Prepaid costs 62,752$ 75,887$ 75,866$ 42,108$ 8,230$
Committed to:
Emergency contingencies 4,500,000 4,500,000 4,500,000 4,500,000 4,500,000
Assigned to:
Community organization support - - - - -
Other Post Employment Benefits (OPEB)- - - - -
Technology Reserve - - - - -
Capital improvement projects - - - - -
Tres Hermanos Conservancy - - - - -
General Plan Update - - - - -
Law Enforcement Reserve - - - - -
Unassigned
Unassigned Reserve 15,199,698 17,656,659 19,350,943 20,379,854 19,440,147
Total general fund 19,762,450 22,232,546 23,926,809 24,921,962 23,948,377
All other governmental funds:
Restricted for:
Community development projects 1,174,082 1,482,522 2,382,667 2,066,650 1,907,215
Public safety 140,747 171,928 193,941 243,642 235,752
Highways and streets 4,015,113 3,862,123 3,541,041 3,095,514 3,268,495
Capital projects 135,914 207,205 267,984 184,074 356,711
Debt service 4 3 29 80 199
Assigned to:
Technology Reserve - - - - -
Unassigned (88,639) (71,561) 18,047 (290,141) (49,618)
Total all other governmental funds 5,377,221 5,652,220 6,403,709 5,299,819 5,718,754
Total fund balances 25,139,671$ 27,884,766$ 30,330,518$ 30,221,781$ 29,667,131$
Note:
The City implemented GASB 54, titled "Fund Balance Reporting and Governmental Fund Type Definitions"
as of the fiscal year ended June 30, 2011.
Source: City Finance Department
City of Diamond Bar
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
120
2019 2020 2021 2022 2023
26,203$ 4,496$ 2,275$ -$ -$
4,500,000 6,000,627 6,797,181 7,864,770 7,981,243
- - - 2,062
- - - 353,283 291,182
- - - 442,418 591,346
- - - 1,308,920
- - - 20,726 6,910
- - - 518,504
- - - 929,558 941,362
18,583,174 18,687,761 20,950,249 20,615,949 22,959,067
23,109,377 24,692,884 27,749,705 30,226,704 34,600,596
2,137,080 2,086,977 3,100,228 3,453,843 4,435,803
286,848 346,066 346,594 347,228 366,818
10,721,764 11,874,243 13,772,296 19,187,254 21,761,109
655,124 944,561 1,724,690 2,863,447 2,743,073
361 19 22,776 75 1,561
- - - - -
(557,242) (351,346) (144,722) (187,428) (725,794)
13,243,935 14,900,520 18,821,862 25,664,419 28,582,570
36,353,312$ 39,593,404$ 46,571,567$ 55,891,123$ 63,183,166$
121
2014 2015 2016 2017 2018
Revenues:
Taxes 10,638,609$ 10,730,234$ 12,930,081$ 12,698,595$ 13,031,475$
Special assessments 549,402 672,492 781,232 769,014 788,971
Intergovernmental 10,281,985 11,185,489 10,384,417 11,668,517 11,753,427
Charges for services 3,321,883 3,344,356 3,101,103 2,899,321 2,972,508
Fines and forfeitures 582,844 523,145 470,722 460,325 459,615
Licenses and permits 1,542,765 5,474,765 4,121,387 2,355,980 3,128,048
Use of money and property 281,752 273,656 563,300 28,478 39,014
Other 85,558 136,786 716,914 561,288 189,350
Total revenues 27,284,798 32,340,923 33,069,156 31,441,518 32,362,408
Expenditures:
Current:
General government 5,115,321 5,040,491 5,177,288 5,560,482 5,956,082
Public safety 5,602,021 5,914,404 6,201,985 6,576,954 6,898,325
Public works 5,698,765 5,216,083 5,531,705 8,964,282 9,298,972
Parks, recreation and culture 4,406,954 4,225,938 4,232,431 2,723,558 2,893,702
Community development 2,225,647 2,540,430 2,313,053 2,985,973 2,874,443
Capital outlay 2,518,617 4,646,891 5,598,997 3,041,443 3,230,907
Debt service:
Principal retirement 350,000 365,000 385,000 400,000 420,000
Interest and fiscal charges 492,159 481,656 470,741 459,191 439,191
Total expenditures 26,409,484 28,430,893 29,911,200 30,711,883 32,011,622
Excess (deficiency) of
revenues over (under)
expenditures 875,314 3,910,030 3,157,956 729,635 350,786
Other financing sources (uses):
Bond issued or refinancing - - - - -
Bonds discount or premium - - - - -
Payment to refunded bond escrow - - - - -
Transfers in 4,856,728 7,084,629 7,287,721 6,395,368 6,758,082
Transfers out (5,822,286) (8,249,564) (7,999,925) (6,831,304) (7,663,738)
Proceeds from sale of capital asset 2,282,406 - - - -
Total other financing
sources (uses)1,316,848 (1,164,935) (712,204) (435,936) (905,656)
Net changes in fund balances 2,192,162$ 2,745,095$ 2,445,752$ 293,699$ (554,870)$
Debt service as a
percentage of noncapital
expenditures 3.35%3.48%3.24%3.08%2.95%
Source: City Finance Department
City of Diamond Bar
Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
122
2019 2020 2021 2022 2023
13,233,033$ 13,200,479$ 13,498,926$ 15,160,087$ 16,445,551$
783,213 776,768 775,008 943,000 1,262,383
14,013,870 14,110,518 16,273,538 18,736,104 21,094,276
2,540,344 1,864,015 914,766 1,740,824 2,297,541
415,701 432,774 263,147 436,610 383,058
9,337,213 2,246,294 2,259,287 2,177,224 2,407,329
1,361,323 1,326,838 96,495 (867,840) 827,050
278,317 201,503 262,929 176,874 202,085
41,963,014 34,159,189 34,344,096 38,502,883 44,919,273
8,078,152 5,607,821 6,383,456 6,744,954 7,022,442
7,136,362 7,371,290 7,401,924 7,993,744 8,149,425
8,653,425 8,860,331 6,430,811 6,716,430 7,403,724
3,075,935 2,699,950 1,178,756 1,745,665 1,967,229
2,900,120 2,871,762 2,919,045 2,728,649 3,522,887
2,709,445 2,604,402 1,398,225 447,896 6,910,290
440,000 460,000 485,000 455,000 465,000
418,191 400,591 543,673 280,413 254,200
33,411,630 30,876,147 26,740,890 27,112,751 35,695,197
8,551,384 3,283,042 7,603,206 11,390,132 9,224,076
- - 8,024,092 - -
- - - -
- - (7,839,852) - -
5,962,151 7,173,287 3,777,515 3,350,683 8,497,451
(7,827,354) (7,622,283) (4,586,798) (5,124,966) (10,429,484)
- - - - -
(1,865,203) (448,996) (625,043) (1,774,283) (1,932,033)
6,686,181$ 2,834,046$ 6,978,163$ 9,615,849$ 7,292,043$
2.81%3.03%4.09%2.76%2.49%
123
City of Diamond Bar
Source: Los Angeles County Assessor Annual Tax Increment Tables.
124
Fiscal
Year Less Total Taxable Total
Ended Secured Unsecured Other Tax Assessed Direct
June 30,Property Property Property Exemptions Value Tax Rate % Change
2013-14 7,765,883,788 69,544,511 - 83,574,453 7,751,853,846 0.0526 3.78%
2014-15 8,201,610,010 70,524,426 - 83,189,280 8,188,945,156 0.0526 5.64%
2015-16 8,649,508,385 72,343,401 - 85,103,082 8,636,748,704 0.0526 5.47%
2016-17 9,175,049,277 74,892,798 - 62,484,967 9,187,457,108 0.0525 6.38%
2017-18 9,589,040,619 76,356,565 - 78,363,662 9,587,033,522 0.0525 4.35%
2018-19 10,037,428,342 83,787,675 - 90,713,106 10,030,502,911 0.0525 4.63%
2019-20 10,435,977,033 76,572,055 - 93,257,612 10,419,291,476 0.0525 3.88%
2020-21 10,834,109,675 94,903,135 - 90,417,003 10,838,595,807 0.0524 4.02%
2021-22 11,071,176,004 93,096,143 1,199,912 93,033,033 11,071,239,114 0.0524 2.15%
2022-23 11,582,901,902 97,490,346 - 87,372,428 11,593,019,820 0.0524 4.71%
Note: Exempt values are not included in Total Net Taxable Values.
The assessed valuation data shown above represents the only data currently available with respect to the actual
market value of taxable property and is subject to the limitations described above.
Source: HDL Coren & Cone and Los Angeles County Assessor's Combined Tax Rolls.
Real Property
2013/14 - 2022/23 Taxable Property Values
(unaudited)
City of Diamond Bar
Assessed and Estimated Actual Values of Taxable Property
0
2,000,000,000
4,000,000,000
6,000,000,000
8,000,000,000
10,000,000,000
12,000,000,000
14,000,000,000
2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23Millions
Fiscal Year
Net Assessed Value
125
Agency 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23
Basic Levy*1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000
Metropolitan Water District 0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.004
Mt. San Antonio College 0.020 0.021 0.022 0.024 0.024 0.024 0.048 0.045 0.046 0.043
Pomona Unified School Dist 0.164 0.166 0.154 0.144 0.173 0.169 0.207 0.151 0.141 0.146
Walnut Valley Unified School Dist 0.113 0.115 0.093 0.066 0.074 0.106 0.095 0.099 0.101 0.101
Total Direct & Overlapping Tax Rates 1.301 1.306 1.272 1.237 1.274 1.303 1.354 1.298 1.291 1.293
City's Share of 1% Levy Per Prop 13*0.0519 0.0519 0.0519 0.0519 0.0519 0.0519 0.0519 0.0519 0.0519 0.0519
General Obligation Debt Rate
Redevelopment Rate*
Total Direct Rate*0.0526 0.0526 0.0526 0.0525 0.0525 0.0525 0.0524 0.0524 0.0524 0.0524
In 1978, California voters passed Proposition 13 which sets the property tax rate at a 1.00% fixed amount. This 1.00% is shared
by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property owners
are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds for
the Pomona Unified School District or Walnut Valley Unified School Districts in Diamond Bar depending on which school
district the property is located in.
Overlapping rates are those of local and county governments that apply to property owners within the City. Not all overlapping
rates apply to all city property owners.
RDA rate is based on the largest RDA tax rate area(TRA) and includes only rate(s) from indebtedness adopted prior to 1989
per California State statute. RDA direct and overlapping rates are applied only to the incremental property values.
Total Direct Rate is the weighted average of all individual direct rates applied by the government preparing the statistical
section information.
City of Diamond Bar
Direct and Overlapping Property Tax Rates
(Rate per $100 of Assessed Value)
126
Sec & Unsecured Percentage of Total
2022-23 Assessed Valuation Net Assessed Valuation
Apex 2015 LLC 74,813,605$ 0.65%
Roic Diamond Hills Plaza LLC 56,831,284 0.49%
BSP Senita Gateway Center LLC 49,082,830 0.42%
Emerald Pointe Apartments LLC 43,041,418 0.37%
Hua Qing Enterprise LLC 38,488,145 0.33%
Bridgegate Drive Properties LLC 33,184,654 0.29%
Diamond Springs LLC 32,058,551 0.28%
ROIC DBTC LLC Lessor 31,795,000 0.27%
Target Corporation 31,029,619 0.27%
Muller Rock 2 Gateway 30,328,629 0.26%
Top Ten Total 420,653,735$ 3.63%
City Total 11,593,019,820$
Percentage of Total
2013-14 Assessed Valuation Net Assessed Valuation
DB Gateway Corporate Inc 40,000,000$ 0.52%
SRGMF South Grand Diamond Bar 39,653,361 0.51%
ROIC California LLC 31,856,200 0.41%
Pacifica Trenton Holdings-2 LLC 30,100,000 0.39%
Target Corporation 26,650,578 0.34%
Muller Rock 2 Gateway 26,136,302 0.34%
Hua Qing Enterprise LLC 22,392,214 0.29%
Margaret M. Tam Trust 18,021,782 0.23%
Emerald Pointe Apartments LLC 17,526,129 0.23%
ROIC DBTC LLC 17,059,484 0.22%
Top Ten Total 269,396,050$ 3.48%
City Total 7,751,853,846$
Source: Hdl Coren & Cone.
City of Diamond Bar
Top 10 Property Taxpayers
Current Year and Nine Years Ago
127
Fiscal Year Taxes Levied
Ended for the
June 30 Fiscal Year Amount % to Levy Years % to Levy
2014 4,075,791 3,960,684 97.18%115,107 2.82%
2015 4,326,040 4,189,390 96.84%136,650 3.16%
2016 4,568,789 4,412,561 96.58%156,228 3.42%
2017 4,842,897 4,643,891 95.89%199,007 4.11%
2018 5,081,117 4,838,019 95.22%243,098 4.78%
2019 5,313,057 5,131,554 96.58%181,503 3.42%
2020 5,540,291 5,267,524 95.08%272,767 4.92%
2021 5,681,444 5,847,155 102.92%- 0.00%
2022 5,871,398 5,881,098 100.17%224,683 3.83%
2023 6,121,244 6,194,513 101.20%- 0.00%
Source: Los Angeles County Auditor/Controller.
City Finance Department
Fiscal Year of Levy
City of Diamond Bar
Property Tax Levies and Collections
Last Ten Fiscal Years
(unaudited)
Collected within the Collections in
Subsequent
128
Fiscal Year Lease Unamortized Total Total % of Debt
Ended Revenue Bond Premium Governmental Primary Personal Per
June 30 Bonds (a)(Discount)Activities Government Income (b)Capita (b)
2014 10,785,000 215,601 11,000,601 11,000,601 0.55%195
2015 10,420,000 201,475 10,621,475 10,621,475 0.55%188
2016 10,035,000 187,349 10,222,349 10,222,349 0.53%179
2017 9,635,000 173,223 9,808,223 9,808,223 0.50%172
2018 9,215,000 159,097 9,374,097 9,374,097 0.48%163
2019 8,775,000 144,971 8,919,971 8,919,971 0.43%155
2020 8,315,000 130,845 8,445,845 8,445,845 0.40%148
2021 6,735,000 1,289,092 *8,024,092 8,024,092 0.38%140
2022 6,280,000 1,181,668 7,461,668 7,461,668 0.33%138
2023 5,815,000 1,074,244 6,889,244 6,889,244 0.29%129
Note:
See Financial Statement Note 5: Long-Term Liabilities for an explantion regarding the above amounts.
(b) Details regarding the City's population and personal income can be found in the Demographic and Economic
Statistics Table.
* The increase in Unamortized Bond Premium is due to the refinancing of the City's
lease revenue bonds.
Source: City Finance Department
(a) Details regarding the City's outstanding lease revenue bonds can be found in the notes to the financial statements.
Governmental Activities
City of Diamond Bar
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(Unaudited)
129
Total Debt
% Applicable
To City (1)
City's Share of
Debt
Direct Debt
Diamond Bar Lease Revenue Bonds, 2021 Series A 5,815,000$ 100.000 5,815,000$
Overlapping Debts (2)
Metropolitan Water District 19,215,000 0.319 61,296
Mt San Antonio Community College District 882,482,780 10.459 92,298,874
Pomona Unified School District 459,351,706 18.214 83,666,320
Walnut Valley Unified School District 226,976,115 59.091 134,122,456
Total Overlapping Tax and Assessment Debts 1,588,025,601$ 310,148,946$
Direct and Overlapping General Fund Debt
Los Angeles County General Fund Obligations 2,601,551,282 0.612 15,921,494
Los Angeles County Superintendent of Schools Certificates of Participation 3,403,487 0.612 20,829
Los Angeles County Sanitation District No.21 Authority 468,639 17.433 81,698
Mt.San Antonio Community College District Certificates of Participation 254,500,000 10.459 26,618,155
Pomona Unified School District General Fund Obligations 6,115,000 18.214 1,113,786
City's General Fund Obligations (Lease Revenue Bonds, 2021 Series A)5,815,000 100.000 5,815,000
Total Direct and Overlapping General Fund Debt 2,871,853,408$ 49,570,962$
Total Overlapping Debt 353,904,908$
Grand Total Direct and Overlapping Debt:4,459,879,009$ 359,719,908$
Debt to Assessed Valuation Ratios:
2022/23 Net Assessed Valuation: $ 11,593,019,820 Direct Debt 0.05%$109
2022 City Population: 53,381 Overlapping Debt 2.68%$5,810
Total Debt 3.10%$5,919
Note:
(1)Percentage of direct and overlapping agency's assessed valuation located within boundaries of the city.
(2)The overlapping debt is the portion of a larger agency, and is responsible for debt in areas outside the city.
Source:
Hdl Coren & Cone
U.S. Census Bureau
City Finance Department
City of Diamond Bar
Direct and Overlapping Debt
June 30, 2023
(unaudited)
130
Fiscal Year 2023 2022 2021 2020 2019
Net assessed value 11,680,392,248$ 11,165,472,059$ 10,929,012,810$ 10,419,291,476$ 10,030,502,911$
Add back: Exemptions 87,372,428 94,232,945 90,417,003 93,257,612 90,713,106
Gross assessed value 11,767,764,676 11,259,705,004 11,019,429,813 10,512,549,088 10,121,216,017
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation 2,941,941,169 2,814,926,251 2,754,857,453 2,628,137,272 2,530,304,004
Debt limit percentage 15%15%15%15%15%
Debt limit 441,291,175 422,238,938 413,228,618 394,220,591 379,545,601
City Debts:
Revenue bonds 5,815,000 6,280,000 8,315,000 8,315,000 8,775,000
Unamortized Bond Premium 1,074,244 1,181,668 130,845 130,845 144,971
Legal debt margin 434,401,931$ 414,777,270$ 404,782,773$ 385,774,746$ 370,625,630$
Fiscal Year 2018 2017 2016 2015 2014
Net assessed value 9,587,033,522$ 9,187,457,108$ 8,636,748,704$ 8,188,945,156$ 7,751,853,846$
Add back: Exemptions 78,363,662 62,484,967 85,146,082 83,189,280 83,574,453
Gross assessed value 9,665,397,184 9,249,942,075 8,721,894,786 8,272,134,436 7,835,428,299
Conversion percentage 25%25%25%25%25%
Adjusted assessed valuation 2,416,349,296 2,312,485,519 2,180,473,697 2,068,033,609 1,958,857,075
Debt limit percentage 15%15%15%15%15%
Debt limit 362,452,394 346,872,828 327,071,054 310,205,041 293,828,561
City Debts:
Revenue bonds 9,215,000 9,635,000 10,035,000 10,420,000 10,785,000
Unamortized Bond Premium 159,097 173,223 187,349 201,475 215,601
Legal debt margin 353,078,297$ 337,064,605$ 316,848,705$ 299,583,566$ 282,827,960$
The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation. However,
this provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981-82 fiscal
year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The
computations shown above reflect a conversion of assessed valuation data for each fiscal year from the current full valuation
the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California for local govern-
ment located within the state.
Source: Section 43605 of the California Government Code
Hdl Coren & Cone
City Finance Department
City of Diamond Bar
Computation of Legal Debt Margin
Last Ten Fiscal Years
(unaudited)
131
General Information
Date of Incorporation April 18, 1989
Form of Government Council-Manager
Area 14.88 Square Miles
Miles of Streets 132.3
Public Safety
Police Protection Los Angeles County Sheriff Department
Fire Protection Los Angeles County Fire Department
Education
School District Pomona Unified School District
Schools 1 High School, 1 Middle School, & 4 Elementary Schools
School District Walnut Valley Unified School District
Schools 1 High School, 2 Middle Schools, & 4 Elementary Schools
Population Distribution by Race (2020 US Census)Total Percent
Asian 32,540.48 58.40%
White 9,472.40 17.00%
Hispanic or Latino 10,363.92 18.60%
African American 2,005.92 3.60%
Others 1,337.28 2.40%
Single Family Residential Full Value Sales (01/01/2014-06/30/2023) *
Year Full Value Sales Average Price Median Price Median % Change
2014 701 660,281 535,000 7.00%
2015 726 626,515 551,000 2.99%
2016 837 628,252 570,000 4.22%
2017 745 645,253 589,500 3.42%
2018 647 704,743 657,500 11.93%
2019 663 701,439 635,000 -3.42%
2020 250 (Jan-Jun 2020)656,486 629,000 -0.94%
2021 391 788,473 755,000 11.85%
2022 490 1,000,753 881,250 10.16%
2023 247 991,944 879,000 2.21%
* "Single Family Residential" includes both stand-alone homes and townhouses and condos with a common wall.
Notes and
Data Los Angeles County Recorder
HdL Coren & Cone
US Bureau of the Census. The official population census of the United States is conducted every ten years.
Median Household Income were obtained from U.S. Census Bureau, 2017 American Community Survey 1-Year Estimates.
City of Diamond Bar
Demographic and Economic Statistics
(unaudited)
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
535,000 551,000 570,000 589,500 657,500 635,000 629,000 755,000 881,250 879,000
Median Price
Median Price
132
Personal Income Median HouseholdUnemploym Median
Population (In Thousands)Income Rate Age
2013 56,400 1,984,772 35,191 84,180 5.4%41.3 92.4%49.7%
2014 56,426 1,919,782 34,023 84,705 5.3%40.9 92.0%48.4%
2015 57,081 1,943,144 34,041 85,505 4.3%41.1 91.5%47.9%
2016 57,066 1,978,657 34,673 89,409 3.3%42.0 92.1%50.9%
2017 57,460 1,953,402 33,995 94,630 3.8%42.2 92.4%50.7%
2018 57,495 2,061,233 35,850 98,660 3.7%42.6 92.8%52.1%
2019 57,177 2,127,028 37,200 101,862 3.6%41.8 93.8%53.2%
2020 56,717 2,228,525 39,292 118,892 10.6%42.6 94.2%54.9%
2021 54,204 2,265,532 41,796 107,322 7.0%42.9 93.6%54.0%
2022 53,381 2,344,903 43,927 113,824 3.8%43.7 93.2%53.8%
City of Diamond Bar
Demographic and Econimic Statistics
(unaudited)
Calendar Per Capita % of Pop 25+ with
High School Degree
% of Pop 25+ with
Bachelor's Degree Year Personal
Notes and Data Sources:
Population: California State Department of Finance. Unemployment Data: California Employment Development Department
2000-2009 Income, Age, and Education Data: ESRI -Demographic Estimates are based on the last available Census.Projections are developed by incorporating all
of the prior census data released to date. Demographic Data is totaled from Census Block Groups that overlap the City's boundaries
2010 and later - Income, Age and Education Data -US Census Bureau, most recent American Community Survey. Estimated Median Household Income - Nielsen
Company.
133
2022 2021 2020 2019 2018
Apparel Stores 8,346$ 8,419$ 5,713$ 8,224$ 7,855$
Food Stores 21,238 20,748 22,248 19,157 18,551
Eating and Drinking Places 81,782 71,119 49,416 65,901 63,944
Building Materials - - 1,476 1,602 2,847
Auto Dealers and Supplies 7,938 7,527 5,500 7,424 6,621
Service Stations 137,921 100,929 60,554 101,622 104,147
Other Retail Stores 66,177 54,485 50,744 62,534 64,496
All Other Outlets 325,206 301,627 270,896 269,187 251,795
Total 648,608$ 564,854$ 466,547$ 535,651$ 520,256$
State Board of Equalization, California Department of Taxes and Fees Administration, State Controllers Office, and The HdL Companies.
Due to confidentiality issues, the names of the ten largest revenue payers are not available. The categories presented are intended to provide
alternative information regarding the sources of the City's revenue.
Notes and Data Sources:
City of Diamond Bar
Taxable Sales by Category
Last Ten Calendar Years
(in thousands of dollars)
134
2017 2016 2015 2014 2013
2,008$ 2,347$ 2,104$ 1,925$ 1,602$
17,394 15,591 12,478 11,004 10,474
64,421 59,696 56,895 54,397 52,948
2,929 2,434 2,115 1,619 1,919
6,638 7,488 7,649 7,607 7,150
96,579 91,952 104,369 112,494 120,373
62,549 62,465 61,002 68,019 69,109
256,509 252,700 208,389 98,327 95,571
509,027$ 494,672$ 455,002$ 355,393$ 359,146$
Notes and Data Sources:
135
Function 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
General government 27 26 22 29 27 27 27 25 25 24 24
Part-time*1 1 1.01
Community development 11 8 8 9 9 8 9 9 8 8 8
Part-time*0 1 0.25 0 0 0 0 0
Public works 14 13 15 18 14 17 17 10 9 8 8
Part-time*1 3 1.15
Community services 0 0 0 0 0 0 0 14 15 14 14
Part-time*0 0 0 0 0 0 0 56 58 60 60
Parks & recreation 11 11 11 10 11 9 9 0 0 0 0
Part-time & Seasonal*53 50 24.68 52 51 65 50 0 0 0 0
Total 118 113 83.09 118 112 126 112 114 115 114 114
Note:
The City is a contract city and as such contracts for many of its services. This includes police services, fire
services, building and safety services, engineering, road maintenance and landscape maintenance.
A full-time employee is scheduled to work 2,080 hours per year (including vacation and sick leave).
Beginning In FY2017, part of the former Community Services Department, road maintenance and landscape
maintenance, has been centralized in Public Works.
* Part-time/Seasonal staff reported as Full-time Equivalent beginning FY 2020-21
Source: City Finance Department
Fiscal Year Ended June 30,2023
City of Diamond Bar
Full-time and Part-time City Government Employees
by Function/Program
136
2023 2022 2021 2020 2019
Police:(in fiscal year) (1)
Physical arrests 462 457 483 564 653
Street Sweeping Parking Citation 3,668 5,726 2,846 4,450 5,256
Fire: (in fiscal year) (2)
Number of incident calls 3,576 3,566 3,237 3,014 3,207
Inspections 1,433 226 988 941 1,151
Public works: (in fiscal year) (3)
Street resurfacing (miles)19.6 19.7 1.1 16.5 12.3
Parks and recreation:(in fiscal year)(4)
Number of recreation classes(5)838 668 450 1,547 2,461
Number of facility rentals 6,217 3,900 1,219 2,766 4,610
2018 2017 2016 2015 2014
Police: (1)
Physical arrests 493 636 702 522 494
Street Sweeping Parking Citation 5,367 5,289 5,682 5,887 5,774
Fire: (2)
Number of emergency calls 3,362 3,331 3,180 2,820 2,760
Inspections 1,403 1,336 1,667 1,413 1,434
Public works: (3)
Street resurfacing (miles)17.2 14.4 19.3 17.0 12.5
Parks and recreation:(4)
Number of recreation classes 2,461 2,338 2,546 2,591 2,623
Number of facility rentals 4,610 4,316 4,804 4,491 4,178
Sources:
(1) Police Walnut/Diamond Bar Station
(2) LA County Fire Dep East Regional Operation Bureau
(3) City Public Works Department
(4) City Community Services Department
(5) Includes online classes
Note: Indicators are not available for the general government function.
Function
Fiscal Year Ended June 30,2023
City of Diamond Bar
Operating Indicators by Function
Last Ten Fiscal Years
Function
Fiscal Year Ended June 30,
137
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Public safety (1)
Police:
Station 1 1 1 1 1 1 1 1 1 1
Patrol units (all shifts combined)17 18 18 18 18 18 18 18 18 18
Fire stations (2)3 3 3 3 3 3 3 3 3 3
Highways and streets (3)
Streets (miles)132.3 132.3 132.3 132.3 132.3 132.3 130.9 130.9 129.4 129.4
Streetlights 314 314 314 314 314 307 307 294 294 294
Traffic signals 76 76 76 76 76 76 76 74 74 74
Culture and recreation (4)
Parks Acreage 79.4 79.4 79.4 79.4 79.4 79.4 72.6 67.9 67.9 67.9
Hiking Trails 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.0 4.0 3.2
Parks 17 17 17 17 17 17 16 15 15 15
Public Tennis courts 7 7 8 8 8 8 8 8 8 8
Community centers 3 3 3 3 3 3 3 3 3 3
Golf Course (5)
County golf course 1 1 1 1 1 1 1 1 1 1
Sewer (3)
Sanitary sewers (miles)161.53 161.53 161.38 161.38 161.38 161.38 161.38 161.21 161.21 161.21
Sources:
(1) Police Walnut/Diamond Bar Station
(2) LA County Fire Department, Division VIII Office
(3) City Public Works Department
(4) City Community Services Department
(5)LA County Golf Course
Note:
The City is a contract city and as such contracts for many of its services. This includes police services,
fire services, building and safety services, engineering, road maintenance and landscape maintenance.
No capital asset indicators are available for the general government function.
Function
Fiscal Year Ended June 30, 2023
City of Diamond Bar
Capital Asset Statistics by Function
Last Ten Fiscal Years
138