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HomeMy WebLinkAbout1987-01-06; City Council; 8852; 1985-86 comprehensive annual financial reportU s4 0 a Q) Ll Q) 4z U a a, i 111 d 0 V h e h 43 I a I 4 .. z 0 F 0 a d 0 z 3 0 0 - CIT OF CARLSBAD - AGEND BILL 1985-86 COMPREHENSIVE ANNUAL FINANCIAL B# PfsA TITLE: )EPT. FIN RECOMMENDED ACTION: REPORT flTG. 1/6/87 Accept the 1985-86 Annual Financial Report. ITEM EXPLANATION: Each year the Finance Department prepares an audited annual financial report for the City Council, City Manager and public. This report provides a summary of the City's financial position on June 30th of each year including cash balances, revenues, expenditures, fund balances, total assets, liabilities, and a wealth of other information. During 1985-86, the City staff of about 350 full-time employees provided a full range of City services to the 50,000 residents and many businesses in Carlsbad. 1985-86, up $14.7 over 1984-85. This increase can be traced to the City's commitment to the construction of major capital improvements and attention to infrastructure maintenance needs. Spending on all City programs totaled $40.7 million in Total City revenues also rose during 1985-86 by $7.4 million or 19.2% reaching $45.5 million by year end. This increase is due to a combination of factors including very strong development activity, substantial assessed valuation growth, and increased tax revenue from the growing retail sales base. City assets totaled $122 million up $26 million over 1984-85, an increase of about 28%. This change reflects the increased cash balances at June 30 due to developer fees paid into capital project funds and an increase in the value of fixed assets (including land) owned by the City. The Finance Director's introductory letter provides an overview of the entire report. FISCAL IMPACT: The City's fiscal position at June 30, 1986 is good. The report addresses the present condition of the City, as well as a brief assessment of the City's economic outlook for 1986-87. EXHIBITS 1985-86 Comprehensive Annual Financial Report for the Cit of Carlsbad, California. (On file in the City Clerk's Office7 *. d . E W I- O 0 Z r a c/r 3 Z P c W tri U U W I- z W H n v) 0 Z I3 lL W 1 z W > W U A a I u W v) n IL I a a 1 Z Z z 0 H A A H r: m v v e? I cn W 3 z W > W U t. I- H LI 1 I- O I- a z 0 H I I r u3 0 ff) I cn W cn Z W X LLJ > I- tl I I- O I- H a, H a z 0 H I 1 H r 00 cu cu e? I 4 cn I- W cn cn > I- LI J I- O I- a H a wz 7 0 L - w- z h n # 1 W 3 K e 2. tt -. I W 3 z W WfY >v, Ea X Y 0 ac a, . I I I I I IL! I- - I I I I I I I I I I I I I I I - I I I I I 1 I 0 I- 1 LL d 3 3 I 5 0 10 n x) t Po n 00 N Do z 0 00 Q) h 00 h R QL W ). a t v) W cn z W e, x LLJ rc) CJ 3 3 3 7 d 0 CJ 0 I 0 -91 3 B rd Q) h 10 h h h F - I \ 7 et 3 c d C I SI rA a 3 f- Z 1 i') t- 3 0 CT (3 Z 0 t. CJ I 0 I H c'1 Z 3 0 c') * r H n 1 1 1 I Z 0 H I- H UI 0 CL t- W W J I- cn cn H Z 0 H I- H cn 0 A H c) Z Z H LL En t. I- H c) m a n a a .L * IYI W il r W o W Q I: IFJ I> 0 CT I: I- I- W a 0 3 Z H I: I- H x Ul W 1 Z W > W U A I- O I- m a * 1.1’ ! LA UII r W o W I: IFJ 3 0 CT I: I- I- W a 3 Z I: I- H 3E cn W U 3 I- H Z W X W A I- O I- n n m H n n a * I- o W LL LL W J 0 cn H LL W I: I- cn H I- I: 3 I A 0 U I- Z 0 u I- 3: 0 U c9 a a I: * Z 1-J k-4 a e co cu 1- Z W > W a 0 W k z H I- c/1 W a I 3 t- H n a. Z W X W n W I- x H I- cn W a I E LL] > a LL 0 0 Z W t- a W r3 Z a a I W 3 z W OL 9 t\ I co 00 a, m Y v) E A A 0 a n A A I m a m . b I I I w p: t- u (3 1 n n- m9 tLJ z W (3 f i f 0 eg I r P T I I I t z 0 I I 4 0 00 00 I b 00 a, 4 I Z 0 I- cn 0 I- W a J H H n n m n Z 1 LL I K LLJ Z W a a I cn 0 17 a I u3 a3 m .rl cn CnZ ZH AI- aH Lcn 0 I= W z ao con a I cn 0 z z W 0 U W II I- O a cn W I- co W X E CI t. U Z a a CT~ n wn Ly n U 3 W Z 0 COMPREHENSIVE ANNUAL FINANCIAL REPORT JUNE 30,1986 CITY OF CARLSBAD, CALIFORNIA MAYOR MARY CASLER CITY COUNCIL CLAUDE “BUDDY” LEVVIS RICHARD CHICK ANN J. KULCHIN MARK PtrINE CITY MANAGER FRANK ALESHIRE FINANCE DIRECTOR JAMES F. ELLlOlT PREPARED BY FINANCE DEPARTMENT 1 I 1 ~- CITY OF CARLSBAD ~~ Comprehensive Annual Financial Report Year Ended June 30,1986 TABLE OF CONTENTS Page INTRODUCTORY SECTION: Table of Contents Letter of Transmittal Location Map Certificate of Award (California Society of Municipal Finance Officers) List of City Officials Organization Caart FINANCIAL SECTION: Auditors' Opinion General Purpose Financial Statements: Combined Balance Sheet-All Fund Types and Account Groups Combined Statement of Revenues, Expenditures, and Changes in Fund Balances-All Governmental Fund Types Combined Statement of Revenues and Expenditures- Budget and Actual (Budgetary Basis)- All Governmental Fund Types Combined Statement of Revenues, Expenses, and Changes in Retained Earnings- All Proprietary Fund Types Combined Statement of Changes in Financial Position-All Proprietary Fund Types Notes to Combined Financial Statements i i 1 13 14 15 16 17 18 20 22 24 25 26 TABLE OF CONTENTS, Continued SUPPLEMENTAL DATA: Governmental Funds General Fund: Schedule of Revenues-Budget and Actual (Budgetary Basis) Schedule of Expenditures-Budget and Actual (Budgetary Basis) Special Revenue Funds: Combining Balance Sheet Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Combining Statement of Revenues and Expenditures- Budget and Actual (Budgetary Basis) Statements of Revenues and Expenditures- Budget and Actual (Budgetary Basis) Debt Service Funds: Combining Balance Sheet Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Combining Statement of Revenues and Expenditures- Budget and Actual (Budgetary Basis) Statements of Revenues and Expenditures- Budget and Actual (Budgetary Basis) Capital Projects: Combining Balance Sheet Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Combining Statement of Revenues and Expenditures- Budget and Actual (Budgetary Basis) Statements of Revenues and Expenditures- Budget and Actual (Budgetary Basis) ii 76 77 78 81 Page 48 49 52 56 60 67 86 88 90 94 8 8 8 I I ~- __ Clv OFCARLS8AD - ~~ ~ - TABLE OF CONTENTS, Continued 1 I 1 1 I I I D I I I 1 1 I I m Page Proprietary Funds: Enterprise Funds: Combining Balance Sheet Combining Statement of Revenues, Expenses, and Changes in Retained Earnings Combining Statement of Changes in Financial Position Internal Service Funds: Combining Balance Sheet Combining Statement of Revenues, Expenses, and Changes in Retained Earnings Combining Statement of Changes in Financial Position Agency Funds: Combining Statement of Changes in Assets and Liabilities iii .98. 100 101 104 106 108 112 CITY OF CARLSBAD TABLE OF CONTENTS, Continued -~ __ _______- __ -.__ - __ __ ~~ STATISTICAL SECTION: (Not covered by Auditors’ opinion.) General Expenditures by Function, Last Ten Fiscal Years General Revenue by Source, Last Ten Fiscal Years Ratio of General Bonded Debt to Assessed Valuation and Net Bonded Debt per Capita, Last Ten Fiscal Years Computation of Legal Debt Margin Schedule of Direct and Overlapping Bonded Debt Ratio of Annual Debt Service for General Bonded Debt to Total General Expenditures, Last Ten Fiscal Years Revenue Bond Coverage-Water Bonds, Last Ten Fiscal Years Demographic Statistics, Last Ten Fiscal Years Schedule of Assessed Valuation, Last Ten Fiscal Years Construction and Business Activity, Last Ten Fiscal Years Property Tax Levies and Collections, Last Seven Fiscal Years Miscellaneous Statistical Information Schedule of Principal Employers, 1985-86 iv 114 116 118 119 120 121 1 22 124 1 26 128 129 130 131 I 1200 ELM AVENUE CARLSBAD, CA 92008-1989 I I I I I I I Citp of QCarIs’bab FINANCE DEPARTMENT October 29,1986 Honorable Mayor, City Council, and City Manager CITY OF CARLSBAD Carlsbad, California TELEPHONE (619) 438-5628 We are pleased to present the 1985-86 Annual Financial Report of the City of Carlsbad to the City Council and the City Manager. This report includes financial statements of the City, the Housing Authority of the City of Carlsbad, the Parking and Ruilding Authorities of the City of Carlsbad and the Carlsbad Redevelop ment Agency, as well as the opinion of our independent certified public accountants, Deloitte Haskins & Sells. Background Carlsbad is located about 35 miles north of the City of San Diego on the Southern California coast. The City is governed by a five member City Council under the Council/Manager form of government. Carlsbad is a general law city incorporated in 1952. The City covers about 39 square miles and has a population of about 50,000. Industries in the area include a major regional shopping center, 14 auto dealers, 19 hotels offering 1,445 rooms for tourist lodging, aerospace manufacturing, electronics, several business and light industry parks, and numerous land developers building single- and multi-family housing in a variety of community settings. Services Provided by the City I I 1 I I The City provides the full range of municipal services normally associated with a municipality including police, fire, parks and recreation, library, planning and zoning, building and engineering, various main- tenance services and administration. The City also operates two Enterprise funds, one providing water service to the residents of Carlsbad and the other providing sewer service to all but a very small portion of the City. Solid waste collection is provided through a franchise arrangement with a local refuse collection service. In addition to the usual city services, Carlsbad offers a variety of programs to help local residents and bus- inesses. The City operates a redevelopment agency that encompasses 0.4 square miles of the downtown area, as well as a housing authority that provides 310 low and moderate income families with housing as- sistance. The City’s Literacy program, funded through a state grant, provides adult education to local area residents. Carlsbad’s older residents receive assistance through the City’s senior citizen programs. Also, the City provides major support for the Convention and Visitors Bureau operated in cooperation with the Carlsbad Chamber of Commerce. Finally, the City has reserved over $200,000for support of the Arts, art pro- grams, and the purchase of works of art. 1 Significant Events and Accomplishments During985;86theCifyX@7ienced many significant events or accomplishments that may not beevident from a review of the financial statements. Some of the more important events are summarized below. ~- Building Activity-During 1985-86 the City issued permits for the construction of 2,800 homes, up almost 35% from the 198485 level of 2,070 homes. Total building permit valuation increased by about 24% to $264 million in 1985-86 from $213 million in 1984i85. Growth Control-The City Council responded to this increasing level of development by establishing the City’s first comprehensive growth management program. Under this program developers will be allowed to build only if all infrastructure improvements required by the development are financed and constructed as part of the development. Standards for all types of infrastructure have been established by the City Council. Construction of Capital Projects-1985-86 was a landmark year for the City in the area of construction of capital projects. Several major capital projects begun during 198586 will be completed in early to mid 1986-87 providing additional parks, streets, parking lots, bridges and office buildings. Some of the more important projects include: Public Safety Center-This 55,000 square foot facility will house the City’s police department and fire administration offices. The center will include a complete police facility and computer aided dispatch system. This first phase of the Public Safety Center will be completed in early 198887. Ad- ditional phases of construction in t:ie future will provide maintenance and warehouse facilities. Stagecoach Park-This site located in the southeast corner of the City will provide 28 acres of ball- fields, picnic areas and natural areas, as well as an 11,OOO square foot gymnasium and 6,000 square foot community facility. Stagecoach Park will be completed in mid 1986-87. Carlsbad Boulevard Bridge-This bridge forms a major link in the coast highway that runs from San Diego to Oceanside. This bridge was widened from two to four lanes and strenghened to accom- modate the traffic loads experienced along the coastal route. The bridge was opened to traffic in August 1986, after a nine month construction period. Poinsettia Fire Station-The City is adding a new fire station to three existing stations to improve service to the southwestern quadrant of Carlsbad. This station, scheduled for opening in early 1986-87, will have one engine company staffed by three firefighters. College Boulevard-In May of 1986 the City sold $9.5 million of 1915 Act assessment district bonds to finance the construction of College Boulevard. This street will become one of the major links in the City’s circulation system serving the industrial area near Palomar Airport. Parking Improvements-The City completed two major parking improvements in 1986. The Main Library parking lot was expanded from 52 spaces to 98 spaces to accommodate the constant de- mand for library patron parking. The downtown merchants gained a 61 space parking lot located near the center of the Carlsbad Village Shopping area. Financial Statement Format This report is designed to provide both summarized and detailed information on the operation of each of the City’s funds. The report is organized as follows: Financial Section - This section contains the combined or summarized statements for all funds as well as the notes to the financial statements. Supplemental Data -This section provides more detailed information on the activity within each fund including revenues, expenditures, changes in fund balances, comparisons to budget figures, and other related data. Statistical Section - This section provides data on the City’s fiscal activity over the past ten years including revenues, expenditures, debt, assessed valuation, and demographic information. 2 Accounting System and Budgetary Control The City’s accounting system is designed around a few basic principles. The City is not one single entity. It is the total of many entities, each with its separate function and legal restrictions on the use of resources. In the private sector, a corporation may have many “subsidiaries” which make up the parent corporation; in the public sector, a city government may have a variety of “funds” that provide the basis for separately recording the financial data related to a specific activity. A fund is an accounting entity with a complete set of self-balancing accounting records. Each fund has been established because of some restriction on the use of resources received by that fund. This report includes the transactions of all entities over which the City Council of the City of Carlsbad has authority (as defined by the Governmental Accounting Standards Board). The City’s accounting system operates on a modified accrual basis for all governmental type funds. Governmental funds include the General, Special Revenue, Debt Service and Capital Funds. A modified accrual system is one where a) revenues are recorded when received in cash; b) revenues are accrued when they are both measurable and collectable within the accounting period or soon enough after the end of the period to pay liabilities of the period; and c) expenditures, other than interest or long term debt, are recorded when liabilities are incurred. The proprietary fund types (the Water Utility, Sewer Enterprise and Internal Service Funds) use the ac- crual method of accounting. Revenues and expenses are ecorded when earned and incurred, reapec- tively. Internal controls exist within the accounting system to ensure safety of assets from misappropriation, unauthorized use or disposition, and to maintain the accuracy of financial record keeping. These internal controls must be established consistent with sound management practices based on the costlbenefit of the controls imposed. The cost of a control should not be excessive in relation to its benefit as viewed by City management. The internal controls in existence within the City’s system are sufficient to ensure in all material aspects both the safety of the City’s assets and the accuracy of the financial record keeping system. Budgetary control is maintained through monthly reports on all revenue and expenditure accounts as well as special reports summarizing the financial position of the City. The City Council has the authority to control the budget through adoption of a formal budget at the beginning of each year and by amending the budget as necessary through the year. Expenditures should not exceed budgeted figures. All appropriations expire at year end unless specifically carried into the new fiscal year by Council ac- tion. The Carlsbad Municpal Code requires that the Finance Director annually prepare a budget for the City Manager showing estimated revenues and expenditures. Total City Operations During 1985-86 the City staff of about 350 full-time employees provided a full range of City services to the 50,000 residents and many businesses in Carlsbad. Spending on all City programs totaled $40.7 million in 1985-86, ~~$14.7 million over 1984-85. This increase can be traced to the City’s commitment to the construc- tion of major capital improvements and attention to infrastructure maintenance needs. Total City revenues also rose during 1985-86 by $7.4 million or 19.2’/0, reaching $45.5 million by year end. This increase is due to a combination of factors including very strong development activity, substantial assessed valuation growth, and increased tax revenue from the growing retail sales base. The high level of city services and emphasis on maintenance activities has been made possible by the posi- tive economic climate found in the San Diego County region of Southern California over the past few years. Carlsbad is entering 1986-87 in avery good financial condition, able to continue to provide services and the energetic capital improvement program begun in 198586. 3 Thefollowing report summarizes the revenues and expenditures ~ ~~ for the ~ City ~~ of Carlsbad ~ at June 30,1986. Revenue from All Fund Types General Fund Special Revenue Funds Debt Service Funds Capital Project Funds Enterprise Funds(" Internal Service Funds(') TOTAL REVENUE (In Thousands) ('1 Includes operating and non-operating revenues 1985-86 $24,309 4,490 245 8,034 6,380 2,064 $45,522 Expenditures (or Expenses) All Fund Types (In Thousands) 1985-86 General Fund Special Revenue Funds Debt Service Funds Capital Project Funds Enterprise Funds(') Internal Service Funds(') TOTAL REVENUE $21,245 5,358 488 9,116 2,777 1,706 $40,690 (l) Includes operating and non-operating expenses General Governmental Functions 1984-85 $20,269 3,661 7,087 5,301 1,506 255 ' $38,079 1984-85 $15,614 2,937 465 3,263 2,597 1,152 $26,028 The General Governmental function includes the operations of the General, Special Revenue, Debt Service and Capital Project funds. During 1985-86 revenue from all Governmental funds totaled $37.1 million, up $5.6 million over 1984-85; expenditures totaled $36.2 million, up $14.0 million over last year. A brief look at these numbers on a fund-by-fund basis is shown below. 4 0 I I I I I 1 1 1 I 1 I I I I I I I D I I I I 1 I 1 I I I E I I I I I I I I ~~ ~~ GENERAL FUND The City's General Fund is used to record all revenues and expenditures not specifically restricted by law or Council policy. Major sources of revenue include property tax, sales tax, licenses and permits, and charges for services. Major categories of expenditure include police and fire services, libraries, parks, street maintenance, and administrative functions. General Fund revenues for 1985-86 totaled $24.3 million, up $4 million or about 19.7% over the 1984-85 revenue of $20.3 million. This increase is due primarily to the following factors: Property tax increased $1.2 million or 23% over 198485due to the high level of building activity and the resale of real estate. 1985-86 was a record year for building and property sales for Carlsbad. According to the County of San Diego, more than $600 million of real estate changed hands during 1985-86. Sales tax revenue increased $500,000 or 8.7% during 1985-86. This is a relatively strong growth in sales tax revenue considering that inflation rates for the San Diego County area are below 3%. Vehicle license fee revenue increased by $340,000 or 36% during 1985-86. The vehicle license fee is set and collected by the State Department of Motor Vehicles. Although DMV cannot readily pro- vide statistics for the Carlsbad area, they indicate that the growth in fee revenue is due to an in- crease in the number of vehicles and a lowering of the average age of vehicles owned by Carlsbad residents. Construction permit revenue increased by $340,000 or 32% in 1985-86 due to record levels of building activity. Building permit valuation totaled more than $263 million on more than 12,000 building permits of all types. Plan check fees rose by $300,000, or 29%, due to the increased level of building activity. Miscellaneous revenue jumped by $1.1 million this year due to a change in the method of ac- counting for services provided to other funds by General Fund departments. The reimbursement of the General Fund is now reported as revenue in the General Fund and an expense or expendi- ture in the fund receiving the service. In prior years this recovery had been recorded as an offset to expenditures in the General Fund. The following table summarizes General Fund revenues by major category for 1985-86 and 1984-85: General Fund Revenues 1985-86 (In Millions) Category Taxes Licenses & Permits Charges for Services Fines & Forfeitures Interest Income Other TOTAL 1985-86 $ 14.9 4.0 2.9 0.3 1 .o 1.2 $ 24.3 Percent of Total 61.4 '/o 16.5 11.9 1.2 4.1 4.9 100.0 Yo 5 1984-85 $ 12.8 3.5 2.4 0.4 1.1 0.1 $ 20.3 Percent of Total 63.1 '/a 17.2 11.8 2.0 5.4 0.5 Increase (Decrease) $ 2.1 0.5 0.5 <0.1> <0.1> 1.1 100.0 Yo $ 4.0 General Fund expenditures totaled $21.3 million for 1985-86, up $5.7 million or 36.5% over 1984-85. This increase% due primarily to the following: ~ ~~ __ .- ___ -- ~~ General Government spending increased by $1.1 million over 1984-85; however, $0.7 million of this is due to the reclassification of reimbursements for services to other funds as revenues (see above explanation of General Fund revenues). When adjusted for this change in account, spending on general government services is up about $500,000 over 1984-85, an increase of 16.6%. Public Safety spending rose $830,000 or about 12% over 198445. The spending increase is due primarily to efforts to maintain full staffing and coverage of both police and fire services. Public Works spending increased by about $3.2 million or 127%. When adjusted for accounting changes as described above, this increase falls to $2.8 million. This remaining increase reflects the City’s commitment to monitoring development activities by staffing the engineering department to meet the demand for services. The City also commited over $2 million more to the street main- tenance effort in 1985-86 than in the prior year, an increase of 183%. Culture and Recreation spending rose $470,000, or about 15%, due to the cost of maintenance for new and existing parks and the general operation of the City’s main and branch libraries. Total General Fund expenditures are summarized in the table below: General Fund Expenditures - 1985-86 (In Millions) Category Percent of Percent of 1985-86 Total 1984-85 Total Increase General Government $ 4.1 19.7 ‘/o $ 3.0 19.2% $ 1.1 Public Safety 7.9 37.1 7.0 44.9 0.9 Public Works 5.7 26.8 2.5 16.0 3.2 Culture & Recreation 3.6 16.4 3.1 19.9 0.5 TOTAL $21.3 100.0 o/o $15.6 100.0 o/o $ 5.7 Special Revenue Funds The City’s Special Revenue funds, which account for the collection and use of special or restricted revenues, received $4.5 million in total revenue in 1985-86. This is an increase of about $8OO,OOO or 22% over the 1984-85 revenue of $3.7 million. This increase is a direct result of the receipt of a major grant for the reconstruction of a bridge across the inlet to the Agua Hedionda Lagoon. The following table shows the major components of Special Revenue Fund revenue sources. I I I- I I 1 I I I I I I I I Category Taxes Intergovernmental Charges for Services Interest Income TOTAL Revenue 1985-86 $ 1.1 2.9 0.1 0.4 $ 4.5 Special Revenue Funds Revenues - 1985-86 (In Millions) Total 1984-85 Total (Decrease) Percent of Percent of Increase $- 29.7 Yo 24.4 ‘/o $ 1.1 64.4 2.1 56.8 0.8 - 0.1 100.0 Yo $ 3.7 100.0 Yo $ 0.8 I 6 I 2.2 - 9.0 0.5 13.5 co.1 > Expenditures from the Special Revenue funds support a wide variety of programs andprmJeqts.Somxf the major uses of funds include: Public works programs such as street maintenance and street lighting. Cultural programs, including grants from the California Library Services Act, and an Adult Learning Program. Capital projects such as the Public Safety Center, the Agua Hedionda Bridge, the main library parking lot and the Carlsbad beach bluff protection project. Welfare programs such as the HUD-sponsored Carlsbad Housing Authority rental assistance program. Spending in Special Revenue funds totaled $5.4 million in 1985-86, an increase of $2.4 million or about 82% over 1984-85. As the table below shows, major increases were seen in the capital projects category. This reflects the City’s emphasis on capital projects during this year. Special Revenue Funds Expenditures - 1985-86 (In Millions) Category 1985-86 Public Works $ 0.7 Culture & Recreation 0.2 Capital Projects 3.5 Welfare 1 .o TOTAL $ 5.4 Percent of Total 1984-85 13.0 ‘/o $ 0.5 3.7 0.2 64.8 1.4 18.5 0.8 100.0 Yo $ 2.9 Percent of Total Increase 17.2 ‘/o $ 0.2 6.9 - 48.3 2.1 27.6 0.2 100.0 Yo $ 2.5 Capital Project Funds Under the accounting definition used by the City, a Capital Project fund is one that accounts for the receipt and disbursement of monies that are restricted for the acquisition or construction of capital facilities (other than those financed by Special Assessment or Enterprise funds). Capital funds for the City of Carlsbad include those supported by the City’s public facilities fee, park in-lieu (park development) fees, drainage fees, traffic impact fees and general funds ear-marked for capital pur- poses in the General Capital Construction Fund. In addition, the capital projects supported by the City’s Redevelopment Agency are included in this group. Revenue in the Capital funds totaled $8.0 million, up $0.9 million or 13% over the 1984-85 total of $7.1 mil- lion. This increase is due toa combination of factors, the most prominent of which is the increase in interest revenue. During 1984-85 and 1985-86, the rapid rate of development has brought a stream of revenue into the City from charges for services. This has helped to create a cash pool that produced about $1.2 million in interest revenue this year. Revenue from charges for services rose only slightly although the total revenue of $6.5 million reflects the high rate of building experienced in the past two years. 7 Category Capital Project Funds ~ ~~ Revenues - 1985-86 (In Millions) Percent of Percent of 1985-86 Total 1984-85 Total Increase Taxes $ 0.3 3.8 '/o $ 0.1 1.4 Oh $ 0.2 Charges for Services 6.5 81.2 6.1 85.9 0.4 Interest 1.2 15.0 0.9 12.7 0.3 TOTAL $ 8.0 100.0 Yo $ 7.1 100.0 o/o $ 0.9 Spending on capital projects totaled $9.1 million, an increase of $5.9 million or 180% over 1984%. The major emphasis this year was focused on the Public Safety Center, park development projects and a large number of street improvement and traffic circulation projects. The City Council and City Manager have set a high priority on completing many key projects in the next fiscal year. The table below summarizes Capital Project fund expenditures for 1985-86. Capital Project Funds Expenditures - 1985-86 (In Millions) Category Percent of Percent of Increase 1985-86 Total 1984-85 Total (Decrease) Public Safety Center $ 4.2 Street Projects 1.1 Major Park Projects 1.6 Redevelopment Area 1.6 Other Projects 0.6 TOTAL $ 9.1 46.2 Yo $ 0.7 21.2 Yo 12.1 1.4 42.4 17.6 0.1 3.0 17.6 0.7 21.2 6.5 0.4 12.2 100.0 Yo $ 3.3 100.0 Yo Debt Service Funds $ 3.5 e 0.3 > 1.5 0.9 0.2 $ 5.8 The City's Debt Service funds record the payment of interest and principal on the current portion of out- standing debt (other than special assessments or revenue bonds). At June 30,1986, the total debt payable from non-enterprise sources was $3,310,000, comprised of Library, Sewer, Parking Authority and Building Authority Bonds. Revenues for 1985-86 are only slightly below revenues for 1984-85. Debt service requirements are relatively level, so tax rates on General Obligation Bonds are set each year to yield only the amount of revenue neces- sary to support the debt payments. An additional $210,000 is transferred to the Debt Service funds by the General Fund to support the Parking and Building Authority debt payments. Debt Service Funds Revenues - 1985-86 (In Thousands) Category Taxes Interest TOTAL Increase Percent of Percent of 1985-86 Total 1984-85 Total (Decrease) $ 128 52.2 '/o $ 108 42.4 Oh $ 20 117 47.8 147 57.6 <30> $ 245 100.0 Yo $ 255 100.0 Yo $ <lo> 8 Expenditures on debt service rose only slightly in 1985-86 due to normal changes in the debt service pay- ment schedules. Debt Service Funds Expenditures - 1985-86 (In Thousands) - Category Principal Interest Other TOTAL Percent of Percent of Increase 1985-86 Total 1984-85 Total jDecrease) $ 265 54.3 90 $230 49.6 '/o $ 35 21 8 44.6 232 49.9 < 14> 5 1 .l 3 0.5 2 $488 100.0 Yo $ 465 100.0 '/o $ 23 There were no bonds or other forms of direct city debt issued during 1985-86. During 1985-86 the City's prop erty tax rate to support general obligation debt totaled .00570% of total assessed value, or about $5.70 on a home valued at $100,000. Enterprise Operations Carlsbad operates a Water Utility and a Sewer Enterprise Fund. An Enterprise fund is one where most or all of the costs involved are supported by user fees. Withir, these funds the City uses many of the accounting practices applicable to any commerical business including the recording of depreciation on fixed assets and the allocation of overhead costs from support services. User fees are set on an annual basis to cover both operating costs and debt service needs. Revenue in the Enterprise funds totaled $6.4 million in 1985-86, up $1.1 million or about 21 O/O over last year's total of $5.3 million. This increase is due primarily to additional revenue from sewer connection fees charged to new development. The table below summarizes enterprise revenue for 1985-86. Enterprise Funds Total Operating and Non-Operating Revenues - 1985-86 (In Millions) Category 1985-86 Total 1984-85 Total Increase Percent of Percent of Water Utility Sewer TOTAL $ 1.5 23.4 '/o $ 1.4 26.4 '/o $ 0.1 4.9 76.6 3.9 73.6 1 .o $ 6.4 100.0 Yo $ 5.3 100.0 Yo $ 1.1 Expenses in the Enterprise funds totaled $2.7 million, up only slightly over the 1984-85 total of $2.6 million. During this same period the number of accounts provided with water andlor sewer service grew from 12,130 to 13,330, an increase of 1,200 accounts or 9.9%. Enterprise Funds Total Operating and Non-Operating Expenses - 1985-86 (In Millions) Category 1985-86 Total 1984-85 Total Increase Percent of Percent of Water Utility $ 1.3 48.1 '/o $ 1.2 46.2 '/o $ 0.1 53.8 - TOTAL $ 2.7 100.0 o/o $ 2.6 100.0% $ 0.1 Sewer 1.4 51.9 1.4 Water Revenue bonds outstanding at June 30,1986, totaled $772,000. There were no revenue bonds issued payable from Enterprise funds during 1985-86. 9 ~~ - Internal Service Funds Internal Service funds are used to account for services provided by a City department for other City depart- ments. As with an Enterprise fund, the source of revenue is user fees charged to the departments receiving the service. SELF-INSURANCE PROGRAM - WORKERS COMPENSATION a GENERAL LIABILITY The City has been self-insured for Workers’ Compensation since September, 1978. The activity for this pro- gram is recorded in the Workers’ Compensation Self-Insurance Internal Service Fund. Workers’ compen- sation claims for 1985-86 amounted to $238,000 compared to $153,000 in 1984-85, an increase of about $85,000 or 56%. The reserve for estimated claims payable at year end was $256,000. Unreserved retained earnings totaled $437,000 at June 30,1986. The General Liability Self-Insurance fund was established near the end of 198081, making this the fifth full year of operation under the program.Claims expense for 198586 totaled $462,000, up $212,000 or 85% from the 1984-85 total of $250,000. The reserve for estimated claims payable at year end was $655,000. Unre- served retained earnings totaled $106,000 at June 30,1986, CENTRAL GARAGE The City operates a central vehicle maintenance program servicing both the rolling stock and small machinery. Operating costs for this program were $734,000 for 1985-86, down $14,000 or 1.9% from the 1984-85 total of $748,000. Trust and Agency Funds The City uses Trust and Agency funds to account for assets held by the City for other individuals, entities or governments. Typically these funds relate to contractors’ cash performance bonds, employee payroll deductions, or deferred compensastion accounts. The City held a total of $13.3 million in Trust and Agency funds as of June 30,1986, compared to$3.2 million at the end of 1984-85. The major increases are found in the deferred compensation fund, which increased from $450,000 to $670,000, contractor and miscellaneous deposits, which increased from $2.7 million to $2.9 million, and proceeds from assessment district bonds held by the City during construction of College Boule- vard of $9.7 million. Cash Management The City Treasurer is charged with the responsibility of safeguarding the City’s assets, receiving all pay- ments due the City and investing all inactive funds. This year the City Treasurer earned about $4.1 million in interest on investments in all fund types from instruments earning from 4.0% to 11.5%. This represents an increase of about 13.9% over the 1984-85 total of $3.6 million. Funds are invested in various types of notes and certificates and are fully insured or collateralized. At June 30,1986, theTreasurer had 100°/~ of all avail- able funds invested. The City’s total portfolio at year end was $57.8 million. The City Council has adopted a comprehensive investment policy (as required by State law) specifying the type and term of City investments. This policy has allowed the City Treasurer flexibility without endangering the safety, liquidity or yield of the total portfolio. 10 ~~ Debt Administration- ___________ The ratio of net bonded debt to assessed valuation and the amount of bonded debt per capita are useful in- dicators of the City’s debt position to management, citizens and investors. These data for the City for the year ended June 30,1986 are as follows: Ratio of Debt to Debt Net general bonded debt $785,000 0.03% $1 6.06 Amount Net Assessed Value Per Capita This debt represents obligations payable directly from a tax levy applied to property within the City of Carlsbad. The City’s general bonded debt includes outstanding Library and Sewer Bonds. Gann Limit - Appropriations Subject to Limit In 1979, Proposition 4, the “Gann” initiative, was passed. The purpose of this law is to limit government spending by putting a cap on the total proceeds of taxes that may be appropriated each year. This limit is increased each year through a formula that takes into consideration changes in the Consumer Price Index and state per-capita income. When a city reaches this limit, excess tax revenue must be returried to the State or citizens through a process of refunds, rebates or other means that may be defined at the time. The Gann limit for the City of Carlsbad has increased steadily since 1979 and still provides the City with a comfort- able operating margin. The Gann limit for the City of Carlsbad for 1985-86 was $24.5 million, with appropri- ations of “proceeds of taxes” of only $17 million. This allows the City a margin of $7.5 million. GANP.1 L I 14 I T SPEND I NG APPROPRIATION OF PROCEEDS LEGAL SPENDING LIMIT VS. APPROPRiATlONS LIMIT OF TAXES . . . . . I . 80-81 ai -a2 82-83 83-84 84-85 85-86 FISCAL YEAS ESTABLISHED UNDER ARTICLE XI118 OF THE STATE CONSTiTUTiON 11 ____ Economic Outlook Carlsbad has a long history of providing high levels of municipal services. The prospects for this trend to continue are very good. The City’s strong property and sales tax base provides the foundation for continued governmental services. The north San Diego County region has enjoyed a growing economy for several years with little sign of slowing. The only question on the economic horizon is the City’s future growth rate. The past two years have been record years for development activity. Permits for the construction of more than 2,800 dwelling units were sold in 1985-86. This record growth has created an environment where Council policy must address maintaining public services consistent with our past standards. To accomplish this goal the City Council has implemented a comprehensive growth management system which will guarantee that facilities will be provided when needed. The long term effects of this plan remain to be seen. The next few years should show a slowing in the rate of growth without a decline in the interest in development within the City. Acknowledgements This report has been a joint effort by many people from many different areas of responsibility. The dedicated efforts of Sandra Schmidt, Assistant Finance Director, and her accounting staff, Donna McClain, Mimi Glessner and AI Capuchino, deserve full credit for the preparation and contents of this report. We appreciate Jeff Fisher and Karen Trent of Deloitte Haskins B Sells for the professional way in which the audit of this financial report was conducted. It has been i! pleasure to work with the Deloitte Haskins & Sells staff throughout this period. Finally, we extend our thanks to Aletna Rautenkranz, the Information Systems Director, for the word processing effort put into the preparation of this report. Respectfully submitted, JAMES F. ELLIOTT Finance Director JFE:th 12 0c.m.e.. CARLSBA .. - !I!-, " .. 13 h 0 ai .... .. ' 4 f' 2 . . . D* ll 14 ELECTED CITY OFFICIALS Mary H. Casler, Mayor Claude A. Lewis, Mayor Pro Tern Ann J. Kulchin, Council Member Richard J. Chick, Council Member Mark V. Pettine, Council Member Aletha L Rautenkranz, City Clerk William C. Esterline, City Treasurer ADMINISTRATION AND DEPARTMENT HEADS Frank Aleshire, City Manager Frank Mannen, Assistant City Manager Ray Patchett, Assistant City Manager Martin Orenyak, Community Development Director Vincent F. Biondo, Jr., City Attorney David Bradstreet, Parks and Recreation Director James F. Elliott, Finance Director Ruth Fletcher, Purchasing Officer Roger Greer, Utilities/Maintenance Director David A. Hauser, Acting City Engineer Michael Holzmiller, Planning Director Vincent Jimno, Police Chief Clifford Lange, Library Director Jerome N. Pieti, Personnel Director James Thompson, Fire Chief CHAIRPERSONS, COMMISSIONS AND BOARDS Clarence Schle h u ber Cam i I le M it kevich Arthur A. Brown David M. Dunne John C. Fuller Richard F. Martin C. Scott Wright Linwood J. Van Jerry Rombotis John McCoy Joe Bear Brian Robertson Robert Sheppard Planning Commission Personnel Board Building Authority Parking Authority Traffic Safety Commission Library Board Parks and Recreation Commission Senior Citizen Commission Design Review Board Housing and Redevelopment Committee Arts Commission Historic Preservation Commission Cable Television Foundation 15 rn W 2 a Z W c z H I ca rn a !2 L -I I- 3 H m a W CT 3 cn W I- >- I- u a a H I Y -z a I -~- Id f 5n IO U Z 3 0 0 t- I- H 0 >- I-Z HO OH t- N H 7 Q c3 0 a a I W 0 Z -5 t: 16 __ - AUDITORS OPINION -_ - Honorable City Council City of Carlsbad, California: We have examined the combined financial statements of the City of Carlsbad as of June 30,1986 and for the year then ended, as listed in the foregoing table of contents. Our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the above-mentioned combined financial statements present fairly the financial position of the City of Carlsbad at June 30,1986 and the results of its operations and the changes in financial position of its proprietary fund types for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Our examination also comprehended the supplemental combining and account group financial statements as of and for the year ended June 30,1986 as listed in the foregoing table of contents. In our opinion, such supplemental combining and account group financial statements, when considered in relation to the basic combined financial statements, present fairly in all material respects the information shown therein. SAN DIEGO, CALIFORNIA October 3,1986 17 CITY OF CARLSBAD COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS JUNE 30,1986 I ..~ ~~ ~ WITH COMPARATIVE FIGURES FORJUNE 30,1985 - Governmental Fund Types ASSETS Cash and investments Receivables: Loan Taxes Accounts Accrued interest Due from other funds Due from other governments Advances to other funds Inventory, at cost Prepaid expenses Restricted assets: Cash and investments Accrued interest Investment in sewage treatment facility Property, plant and equipment, net Amount available in Debt Service funds Amount to be provided for retirement of TOTAL ASSETS general long-term debt LIABILITIES Accounts payable Accrued wages payable Due to other funds Advances from other funds Advances from other governments Deposits payable Deferred compensation payable Estimated claims payable Payable from restricted assets: Accrued interest payable Current portion of revenue bonds payable General obligation bonds payable Revenue bonds payable, net of unamortized discount of $4,936 in 1986 ($6,170 in 1985) Deferred revenue Obligations under capital lease Other payables TOTAL LIABILITIES FUND EOUITY Contributed capital Investment in general fixed assets Retained earnings Fund balances TOTAL FUND EQUITY TOTAL LIABILITIES AND FUND EQUITY See accompanying notes to financial statements. Notes 3 12 11 4 12 11 7 10 10 8 15 2,14 14 18 ~ Spec i a I Debt Capital General Revenue Service Projects $1,494,204 $3,743,048 $1,543,718 $22,735,788 - 657,010 31,021 1 10,364 23,615 1,369,618 14,069 79,500 - - - - - - - 11,663 7,301 37,769 66,156 - - - 87,223 - - - - - - - - - 1 16,217 67,302 2,097,827 6,650 - - $3,779,481 $3,953,160 $1,569,646 $25,023,784 $ 397,925 $ 350,536 $ - $ 1,081,669 1,076,001 14,836 - 13,604 11,299 17,446 6,300 67,423 - - - 3,467,445 97,882 - - - - - - - - - - 2,294,256 3,472,460 1,548,708 20,393,643 2,294,256 3,472,460 1,548,708 20,393,643 $3,779,481 $3,953,160 $1,569,646 $25,023,784 I I I 1 I I I I I I I 1 I I I I I I I I I I I 1, I I I I ~~ Totals (Memorandum Only) 1986 1985 $ 57,220,364 $40,008,214 Proprietary Fund Types Fiduciary Account Groups Enterprise Senrice Agency Fixed Assets Term Debt $1 1,565,014 $2,973,650 $13,164,862 $ - Internal Fund Type General General Long - $ 11,663 658,865 1,329,751 486,136 174,395 66,156 3,467,445 163,961 173,373 4,874 61 2,955 1,236,952 385,192 168,917 231,014 2,362,542 137,504 121,529 - 1,291,181 90,679 71,435 - - 149,892 - - 248 24,233 2,165 - - 82,801 9,878 - 552,931 - - - - 4,590 - - - - 16,440,927 - - - - 10,509,324 821,403 -- 27,136,537 - - - - - 1,548,708 552,931 51 1,460 4,590 - 16,440,927 16,366,933 38,467,264 30,168,685 1,548,708 1,581,354 2,076,731 2,408,177 $1 22,843,260 $96,306,302 - - - - 2,076,731 $40,675,973 $3,821,699 $1 3,257,541 $27~ 36,537 $3,625,439 $ 1,277,659 34,781 71,774 - - 40,822 - $ 55,381 16,798 153 - $ 356,989 $ $ 3,520,159 $ 1,309,786 1,156,020 964,396 174,395 168,N 7 3,467,445 2,362,542 97,882 98,940 12,269,665 2,524,492 671,709 449,977 910,597 508,955 - 12,228,843 671,709 - - 910,597 35,903 41,684 140,000 130,Ooo 3,310,000 3,575,000 627,064 - - - - 2,308,777 - - - - - - - 275,783 - - 39,656 4,522,142 982,929 13,257,541 - 3,625,439 - - - 627,064 765,830 2,308,777 2,454,778 275,783 338,136 39,656 76,395 29,005,015 15,769,828 22,256,433 2,190,977 13,897,398 647,793 - 36,153,831 2,838,770 - - - - - - - $40,675,973 $3,821,699 $13,257,541 24,447,410 24,313,417 27,136,537 18,896,668 14,545,191 10,143,706 27,709,067 27,182,683 93,838,205 80,536,474 - - 27,136,537 - - - - - 27,136,537 - $27,136,537 $3,625,439 $1 22,843,260 $96,306,302 19 CITXECARLSBAD COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES- ALL GOVERNMENTAL FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30,1985 REVENUES Taxes Licenses and permits Intergovernmental revenues Charges for services Fines and forfeits Interest income Miscellaneous revenues TOTAL REVENUES EXPEN DITURES Current: General government Public safety Public works Welfare Culture and recreation Capital outlay Debt service: Principal retirement Interest and fiscal charges Miscellaneous TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Operating transfers in Operating transfers out TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCES AT BEGINNING OF YEAR RESIDUAL EQUITY TRANSFERS IN RESIDUAL EQUITY TRANSFERS OUT FUND BALANCES AT END OF YEAR See accompanying notes to financial statements. 20 General Special Revenue $14,851,803 3,996,864 2,870,965 288,055 1,066,441 1,234,824 24,308,952 - 4,120,270 7,851,268 5,734,750 3,539,015 - - - - - 21,245,303 3,063,649 653,312 (3,667,322) $1,082,317 2,924,892 58,421 418,841 5,232 4,489,703 - - - - 677,560 1,052,- 171,490 3,453,221 - - 2,888 5,357,553 (867,850) - (363,289) (3,014,010) (363,289) 49,639 2,250~ 75 54,442 (60,000) $ 2,294,256 (1,231,139) 4,705,483 - (1,884) $3,472,460 I I I I 1 I I I I I I I I I I I I I I Debt Service Capital Projects Totals (Memorandum Only) 1986 ~ 1985 $ 128,252 - - 1 16,977 - $ 301,947 - - 6,477,443 1,254,962 - - $1 6,364,319 3,996,864 2,924,892 9,406,829 288,055 2,857,221 1,240,056 $1 4,096~ 68 3,470,656 2,060,542 8,541,600 345,750 2,638,536 1 19,492 245,229 8,034,352 37,078,236 31,272.744 1,523 - - 265,000 21 8,352 - 8,879,866 - 236,255 - 4,124,793 7,851,268 6,412,310 1,052,394 3,710,505 12,333,087 265,000 454,607 2,888 3,008,056 7,020,105 2,974,480 860,556 3,278,290 4,619,242 230,000 289,000 - 487,875 9,116,121 36,206,852 22,279,729 (242,646) (1,081,769) 871,384 8,993,015 210,000 - 21 0,Ooo 3,038,299 (1 56,000) 2.882.299 (32,646) 1,581,354 '- - 1,8OO,530 18,645,671 - (52,558) $1,548,708 $20,393,643 21 3,901,611 (4,186,611) (285,000) 586,384 27,182,683 54,442 (I 14,442) 788,000 (788,000) 8,993,015 1 8.1 89,668 3,678,744 (3,678,744) $27,709,067 $27,182,683 CITY OF CARLSBAD COM BLN EDSTATEM EN J OF REVENUESANQEXPENDlIUEE--- ~ BUDGET AND ACTUAL(6UDGETARY BASIS) ALLGOVERNMENTAL FUND TYPES FORTHEYEAR ENDED JUNE30,1986 General Fund Special Revenue Funds Actual on Variance Actual on Variance Budgetary Favorable Budgetary Favorable RNEN U ES Budget Basis (Unfavorable) Budget Basis (Unfavorable) Taxes $13,819,000 $14,851,803 $1,032,803 $ 1,035,419 $1,082,317 $ 46,898 Licenses and permits 3,160,ooO 3,996,864 836,864 - - - Intergovernmental Charges for services 2,260,000 2,870,965 61 0,965 45,000 58,421 13,421 Fines and forfeits 405,000 288,055 (1 16,945) - - - Interest income 775,000 1,066,441 291,441 125,000 418,841 293,841 Miscellaneous revenues 1,112,963 1,234,824 121,861 1,600 5,232 3,632 TOTAL REVENUES 21,531,963 24,308,952 2,776,989 9,379,083 4,489,703 (4,889,380) EXPEN DlTU RES revenues - - - 8,172,064 2,924,892 (5,247,172) General goverrment 4,993,738 4,525,735 468,003 - - - Public safety 8,467,259 7,893,787 573,472 - - - Pub1 ic works 6,138,483 6,029,974 108,509 1,973,967 684,247 1,289,720 Welfare - - - 1,056,079 1,052,394 3,685 Culture and recreation 3,700,481 3,608,976 91,505 398,81 3 182,889 21 5,924 Capital outlay - - - 10,161,511 5,175,441 4,986,070 Debt service: Principal retirement - - - - - - fiscal charges - - - - - - - - - 2,888 (2,888) Interest and Miscellaneous - TOTAL EXPENDITURES 23,299,961 22,058,472 1,241,489 13,590,370 7,097,859 6,492,511 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (1,767,998) 2,250,480 4,018,478 (4,211,287) (2,608,156) 1,603,131 OTHER FINANCING SOURCES (USES) Operating transfers in (out) 163,419 (3,014,010) (3,177,429) (718,419) (363,289) 355,130 TOTAL OTHER FINANCING SOURCES (USES) 163,419 (3,014,010) (3,177,429) (718,419) (363,289) 355,130 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND AND OTHER FINANCING USES $ (1,604,579) $ (763,530) $ 841,049 $(4,929,706) $(2,971,445) $1,958,261 See accompanying notes to financial statements. 22 I I I 1 I I I I I I I I I I 1 I I I I Debt Service Funds ~ ~~ ~~~~ ~~ Capital Project Funds Actual on Budgetary Basis Variance Favorable Actual on Budgetary Basis $ 128,252 - Variance Favorable (Unfavorable) $( 12,748) - Budget $ 141,000 - Budget (Unfavorable) $ 440,000 $ 301,947 - $ (138,053) - - 5,485,000 198,000 - - - 6,477,443 1,254,962 - - - 992,443 1,056,962 - - - - 120,903 261,903 - ~~~ ~ 1.91 1,352 245,229 (16,674) 6,123,000 8,034,352 - - - - 4,068,110 265.000 265,000 220,344 21 8,352 - 1,992 236,255 - (236,255) - - - 1 9,901,757 - 1,992 16,069,902 3,831,855 487,875 (13,778,757) (8,035,550) 5,743,207 (227,964) (242,646) (1 4,682) 210,000 210,000 2,488~ 61 2,882,299 394,138 394,138 2,488,161 2,882,299 21 0,000 21 0,000 $6,137,345 $ (17,964) $ (32,646) $(11,290,596) $ (5,153,251) $(14,682) 23 CITY OF CARLSBAD COMBlNEDSTATEMENT OF REVENUES, U(PENSE~~GES-r~R~~~E~~R~l~GS- ALL PROPRIETARY FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30,1985 OPERATING REVENUES Metered water sales Sewer service charges Sewer connection fees Other charges for services Reimbursed expenses Miscellaneous revenue (expense) TOTAL OPERATING REVENUES OPERATING EXPENSES Personnel services Office expenses Repairs and maintenance Professional services Insurance Purchased water Loss on disposal of property Bad debt expense Depreciation and amortization Fuel Supplies and parts Claims expense TOTAL OPERATING EXPENSES OPERATING INCOME NON-OPERATING REVENUES (EXPENSES) Interest income Interest expense and fiscal agent fees Sale of property TOTAL NON-OPERATING REVENUES OTHER FINANCING SOURCES Operating transfer in TOTAL OTHER FINANCING SOURCES NET INCOME Retained earnings, at beginning of year Prior period adjustment (Note 2) Retained earnings, at beginning of year, Retained earnings, at end of year (Note 11) as adjusted See accompanying notes to financial statements. Enterprise Internal Service $ 930,107 1,607,828 2,544,325 336,238 8,380 (88) 5,426,790 878,573 66,256 336,055 823,: 62 11,850 4,090 360,391 (10,878) 265,097 - - - 2,734,626 2,692,164 953,635 (42,531) - - $ - - 744,075 1,082,899 46 1,827,020 240,154 10,942 56,852 15,133 - - - - 140,040 185,697 85,608 971,790 1,706,216 120,804 210,549 26,926 - 911,104 237.475 - - 3,603,268 10,139,192 154,938 10,294,130 $1 3,897,398 285,000 285,000 643,279 4,514 - 4,514 $ 647,793 Totals (Memorandum Only) 1986 $ 930,107 1,607,828 2,544,325 1,080,313 1,091,279 (42) 7,253,810 1,118,727 77,198 392,907 838,325 11,850 4,090 360,391 (10,878) 405,137 185,697 85,608 971,790 4,440,842 2,812,968 1,164,184 (42,531) 26.926 1,148,579 285,000 285,000 4,246,547 10,143,706 154,938 10,298,644 $1 4,545~ 91 1985 $ 816,247 - 1,437iZ1 1,971,135 1,084,628 496,048 2,969 5,808,248 946,882 68,084 708,762 878,568 9,935 331 9 19,623 388,967 190,176 81,180 404,028 3,699,724 2,108,524 - 978,735 (50,138) 20,787 949,384 - - 3,057,908 7,303,298 (217,500) 7,085,798 $1 0,143,706 24 CITY OF CARCSEAD __ ~~ COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30,1985 SOURCES OF WORKING CAPITAL Operat ions: Net income Items not requiring working capital: Depreciation and amortization Gain on sale of property Loss on disposal of property Working capital provided by operations Proceeds from sale of property Contributions from other funds Enterprise Internal Service Totals (Memorandum Only) 1986 $3,603,268 265,097 360,391 4,228,756 - - - $ 643,279 140,040 (26,926) 756,393 - - 60,000 $4,246,547 405,137 (26,926) 360,391 4,9851 49 - 60,000 TOTAL SOURCES OF WORKING CAPITAL 4,228,756 USES OF WORKINS CAPITAL Acquisition of property, plant and equipment Decrease in long-term revenue bonds payable Reduction of deferred revenue Net decrease (increase) in other restricted assets and related liabilities TOTAL USES IN WORKING CAPITAL NET INCREASE IN WORKING CAPITAL ELEMENTS OF NET INCREASE (DECREASE) IN UNRESTRICTED WORKING CAPITAL Cash and investments Accounts receivable Accrued interest receivable Inventory Prepaid expenses Due from other funds Estimated claims payable Accounts payable Accrued wages payable Deposits payable Due to other funds NET INCREASE IN WORKING CAPITAL 623,157 140,000 146,001 39,734 $3,279,864 948,892 - $4,134,833 78,808 90,679 24,675 (5,320) 8,419 (1,054,205) (9,073) 19,806 (8,758) $3,279,864 - 816,393 - -- 172,922 - - 172,922 !S 643.471 $1,031,451 2,246 24,233 - - (401,642) (1 1,146) (1,518) (1 53) - $ 643,471 See accompanying notes to financial statements. 25 1985 $3,057,908 388,967 (20,787) - - 3,426,088 24.048 37,521 5,0451 49 3,487,657 796,079 140,000 146,001 39,734 1,121,814 $3,923,335 $5,166,284 81,054 114,912 24,675 (5,320) 8,419 (401,642) (1,065,351) (10,591) 19,806 (8,91 2) S 3,923,335 541,713 130,000 109,000 (108,565) 672,148 $2,815,509 $2,303,242 214,123 19,922 - (1,072) - (21,545) 296,565 (23,6 1 0) 27,884 $2,815,509 - I I- _. CITY OF CARLSBAD Notes to Combined Financial Statements - ~. -~ __ June 30,1986 (1) Summary of Significant Accounting Policies The accounting policies of the City of Carlsbad, California, conform to generally accepted accounting principles for governmental units. The following is a summary of the more significant policies: I Description and Scope of the Reporting Entity The City conforms to the provisions of National Council on Governmental Accounting (NCGA) Statement No. 3 regarding the definition of the “Reporting Entity.” Accordingly, the general purpose financial statements include the activities of the various funds and account groups for which the City Council has effective oversight responsibility. This responsibilty includes, but is not limited to, the authority to govern, manage, approve budgets, and assume fiscal accountability. The financial statements of the City of Carlsbad include the financial activities of the City, the Housing Authority of the City of Carlsbad, the Parking and Building Authorities of the City of Carlsbad and the Carlsbad Redevelopment Agency. Their financial operations are closely related and the City Council has a continuing oversight responsibility over the entities. The oversight responsibility is determined on the basis of budget adoption, taxing authority, funding and appointment of the governing board. The City has an interest of approximately 25% in a joint sewer system known as the Encina Water Pollution Control Facility. The major owner is San Diego Gas and Electric Company, who includes the facility in their financial statements. Since the City does not have significant influence over the management or the operation of the facility, the City accounts for its investment on an equity basis and excludes the financial statements for the facility. Fund Accounting The accounts of the City are organized on the basis of funds or account groups, each of which is considered to be a separate accounting entity. The operationsof each fund or account group are accounted for by providing a separate set of self-balancing accounts that comprise its assets, liabilities, reserves, fund balancelretained earnings, revenues, expenditures or expenses. The various funds and account groups are summarized by type in the financial statements. Fund types and account groups used by the City are as follows: GOVERNMENTAL FUNDS: General Fund The General Fund is the general operating fund of the City. All general tax revenues and other receipts that are not allocated by law or contractual agreement to some other fund are accounted for in this fund. The fund is used to account for payments made for general operating expenses and capital improvement costs that are not paid through other funds. 1 I I I I I I I I I I 1 I 26 I I I I I I I I I I I I I I I I I I I - CITY OF CARLSBAD - . - Notes to Combined Financial Statements, Continued Special Revenue Funds The Special Revenue Funds are used to account for revenues derived from specific sources that are restricted by law or administrative regulation to expenditures for specified purposes. Debt Service Funds Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest and related costs. Capital Proiect Funds ~ ~~ Capital Project Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by proprietary funds). PROPRIETARY FUNDS: Enterprise Funds The Water Utility Fund and the Sewer Fund are used to account for operations that are financed and operated in a manner similar to a private business enterprise where the intent of the City Council is that the costs (expenses, including depreciation) of providing goods and services to the general public on a continuing basis be financed or recovered primarily through user charges. Internal Service Funds Internal Service Funds are used to finance and account for activities involved in rendering services to departments within the City. Costs of services are accumulated in these funds and charged to user departments as such costs are incurred. FlDUClARY FUND: Agency Funds The Agency Funds are used to account for assets held by the City in an agency capacity for in- dividuals and private businesses. 21 ACCOUNT GROUPS: 8 I 1 B CITY OF CARLSBAD Notes to Combined Financial Statements, Continued General Fixed Assets Account Group General Fixed Assets have been acquired for general governmental purposes. Assets purchased are recorded as expenditures in the governmental fund types and capitalized at cost in this group of accounts. In the case of gifts or contributions, such assets are recorded in general fixed assets at fair market value at the time received. Fixed assets consisting of certain improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, and drainage systems, have not been capitalized. Such assets normally are immovable and of value only to the City; therefore, stewardship for capital expenditures is satisfied without recording of these assets. No depreciation has been provided on general fixed assets. General Long Term Debt Account Grouo This group of accounts is used to account for General Long Term Debt (backed by the full faith and credit of the City) including the City’s obligations under capital leases. (c) Measurement Focus and Basis of Accounting The proprietary (enterprise and internal service) fund types are accounted for on an “income de- termination” or “cost of services’’ measurement focus. Accordingly, all assets and liabilities are included on the balance sheet, and the reported fund equity provides an indication of the eco- nomic net worth of the fund. Operating statements for proprietary fund types report increases (revenues) and decreases (expenses) in total economic net worth. Governmental (general, special revenue, debt service and capital projects) fund types are ac- counted for on a “spending” measurement focus. Accordingly, only current assets and current liabilities are included on their balance sheets, and the reported fund balance provides an indi- cation of available, spendable resources. Operating statements for governmental fund types report increases (revenues) and decreases (expenditures) in available spendable resources. Agency funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Governmental and fiduciary fund types use the modified accrual basis of accounting. Revenues are recognized when susceptible to accrual, i.e., both measureable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabili- ties of the current period. In applying the susceptible to accrual concept to intergovernmental revenues, the legal and contractual requirements of the individual programs are used as guidance. I i I I I 1 1 1 I I I 28 ___ ~_____ c!n OF CPALSBAD __~ ~ Notes to Combined Financial Statements, Continued Revenues that are accrued include real and personal property taxes, sales tax, interest, and state and federal grants and subventions. Real property taxes are levied on October 15 against owners of record at March 1. The taxes are due in two installments on November 1 and February 1 and become delinquent after December 10 and April 10 respectively. Under the provisions of NCGA Interpretation 3, property tax revenue is recognized in the fiscal year for which the taxes have been levied, provided it is collected within 60 days of the end of the fiscal year. Governmental and fiduciary fund expenditures generally are recognized when the related fund liability is incurred. Exceptions to this general rule include: (1) principal and interest on long-term debt, which is recognized when due; (2) prepaid expenses, which are reported as current period expenditures rather than allocated; and (3) accumulated unpaid vacation, sick leave, and other employee benefits, which are reported in the period due and payable rather than in the period earned by employees. Proprietary Funds use the accrual basis of accounting, i.e., revenues are recognized in the period earned and expenses are recognized in the period incurred. (d) Budgetary Data The City allows these procedures in establishing the budgetary data reflected in the financial statements: 1. During May or June, the City Manager submits to the City Council a proposed operating budget for all funds of the City for the fiscal year commencing the following July 1. The budget includes proposed expenditures and estimated revenues on a line item basis. Public hearings are conducted at City Council meetings to obtain citizens’ comments during June. A Citizens’ Budget Review Committee facilitates this process. Prior to July 1, the budget is legally enacted through passage of an appropriation resolution. 2. 3. 4. The City Manager is authorized to make transfers of appropriated amounts within a fund and function for up to $lO,OOO. Revisions that alter the total appropriations of any fund or function must be approved by the City Council. A mid-year budget review is conducted each year. Any major changes to the adopted budget are approved by the City Council at that time. 5. Monthly budget control reports are generated to assist the Finance Department and other departmental heads in controlling the budget. 6. Budgets for all governmental type funds are adopted on the modified accrual basis, except that encumbrances are treated as budgeted expenditures in the year of incurrence of commitment to purchase. 7. Expenditures may not exceed budgeted appropriations at the department level. Unencum- bered appropriations lapse at year end. 29 CITY OF CARLSBAD 8. 9. Notes to Combined Financial Statements, Continued On June 30, at the direction of the City Council in the annual budget resolution, the differ- ence between revenue and expenditures in the General Fund is transferred to the General Capital Construction Fund (a capital project fund). This operating transfer provides funds for various capital projects. For purposes of a budgetary presentation, actual generally accepted accounting principal expenditures have been adjusted to include encumbrances outstanding at year end. The following encumbrance amounts existed at year end and therefore were included in the Statements of Revenues and Expenditures-Budget and Actual (Budgetary Basis) in order to provide a meaningful comparison of the actual results of operations with the budget: General Fund Specia: Revenue Funds Capital Projects Funds Investments Encumbrances $ 813,169 1,740,305 6,953,781 Investments are stated at cost, which approximates market. Inventories Inventories within the various fund types consist of materials and supplies that are valued at the lower 01 average cost or market and are recorded as expenses when consumed. Compensated Absences Vacation pay, which is included in accrued wages payable, is payable to employees at the time used or upon termination of employment. Vacation days are cumulative up to a maximum of 29 days in any one year for miscellaneous employees and safety employees, and 40 days in any one year for management employees. Sick leave accrued but unused is cumulative from year to year. For employees within the merit system, sick leave may not be taken as vacation or compensated in cash. Permanent miscellaneous employees (as defined) accumulating and maintaining 100 hours of sick leave can convert up to 12 days of sick leave to vacation at a ratio of three sick leave days to one vacation day. Upon retirement, such employees may also convert accrued and unused sick leave to extend service time at the rate of 25 sick days to one month of service time. Self-Insurance The City is self-insured for general liability and workers’ compensation claims up to $1OO,OOO and $100,000 per occurrence, respectively. The City purchased outside insurance coverage for workers’ compensation between $100,000 and $10 million per occurrence. The City contracts with Bierly and Associates to manage workers’ compensation claims and with Carl Warren and Company to manage general liability claims. These companies determine the amounts that must be accrued at year-end for estimated claims payable. 1 s 1 1 1 I I I I 30 8 I !- I 1 1 I I I I I I 8 1 I 8 8 1 I __ CITY OF CARLSBAD Notes to Combined Financial Statements, Continued - _______ __~ ~ ~- (i) Memorandum-Only Totals Columns in the accompanying financial statements captioned “Totals (Memorandum Only)” are presented as additional analytical data and do not present financial statements in accordance with generally accepted accounting principles. (j) Encumbrances Encumbrances accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropri- ation, is employed as an extension of formal budgetary control in the governmental funds. En- cumbrances outstanding at year end do not constitute expenditures or liabilities, but are reported as reservations of fund balance for subsequent-year expenditures. (k) Unbilled Service Receivables Unbilled service receivables in proprietary funds are reflected in accounts receivable at year end with a corresponding increase in revenues. (I) Investment in Sewer Facility The City has an ownership of approximately 25% in a joint sewer system known as the Encina Water Pollution Control Facility (the Facility). The City accounts for such investment on an equity basis. The Facility charges the City usage fees on an equity basis; such charges totaled $795,849 and are classified within professional services expense. (rn) Fixed Assets - Proprietary Funds Fixed assets owned by proprietary funds are capitalized at historical cost or fair market value as of date of contribution. Depreciation is charged to operations using a straight-line method based on the estimated useful life of the asset.The estimated useful lives of the assets are as follows: Buildings Structures and improvements Sewer, sewer lines and wells Equipment Wells, reservoirs and dams Transmission and distribution lines Filters and pumps Fire hydrants 10-25 years 50 years 40 years 4-10 years 10-100 years 40-70 years 10-50 years 50 years (n) Deferred Revenue The deferred revenue balances of the Enterprise Fund relate to deposits or in-kind prepayments for services to be rendered (e.g., sewer installation, etc.). 31 __ CITY OF CARLSBAD Notes to Combined Financial Statements, Continued ~ - __ ~~ (0) Comparative DataITotals Only Comparative data for the prior year has been presented in certain of the accompanying financial statements in order to provide an understanding of changes in the City’s financial position and operations. Also, certain of the prior year amounts have been reclassified to conform with the cur- rent year financial statement presentations. (2) Prior Period Adjustments Water Utility Fund In the prior year, the City overstated repair and maintenance expense and accounts payable by $154,938. This overstatement was corrected during the current year by an adjustment to retained earnings at beginning of year. (3) Cash and Investments A summary of cash and investments as of June 30,1986 follows: Interest Rates Cost Cash Certificates of Deposit Federal Agency Notes Treasury Coupons Miscellaneous Investments 0 - 6.35% 7.05 - 9.50% 7.27 - 8.69% 7.49 - 8.22% 4.00 - 1 1.50% $ 500,898 31,657,000 7,147,618 3,040,880 15,426,899 $57,773,295 (4) Property Plant and Equipment Summary of Changes in General Fixed Assets Balance July 1.1985 Additions Deletions Balance June 30,1986 Land Buildings Other Improvements Furniture and Equipment Construction in Progress TOTAL $ 5,656,682 3,523,822 7,974,627 1,741,537 - $18,896,668 .$ 4,321,247 2,238,928 207,770 473,388 8? 443.678 $1 5,685,011 32 7,131,259 31 3,883 $ 9,977,929 5,762,750 1,051,138 1,901,042 8,443,678 $7,445,142 $27,136,537 - CITY OF CARLSBAD ~~ ~ Notes to Combined Financial Statements, Continued A summary of proprietary fund property, plant and equipment at June 30,1986, follows: Enterprise Funds Internal Service Funds Total Proprietary Funds Land, water rights, rights-of-way Buildings Structures and improvements Wells, reservoirs and dams Transmission and distribution lines Sewer, sewer lines and wells Purification, pumps and Equipment and vehicles Fire protection services Construction in progress TOTAL Less accumulated depreciation TOTAL booster stations $ 459,206 37,188 37,948 1,289,152 4,068,674 5,090,446 4,684 653,908 5,759 2,657,516 - 1,626,199 - - $ 459,206 37,188 37,948 1,289,152 4,068,674 5,090,446 4,684 2,280,107 5,759 2.657.916 14,304,881 (3,795,557 1,626,199 (804,796) 15,931,080 (4,600,353) $1 0,509,324 $ 821,403 $1 1,330,727 (5) Joint Venture - Encina Water Pollution Control Facility The Encina Water Pollution Control Facility (the Facility) is a sewer system owned jointly by the Cities of Carlsbad and Vista, the Leucadia Water District, the Buena Vista Sanitary District, the San Marcos County Water District and the Encinitas Sanitary District. The Leucadia County Water District is the operator and administrator of the facility and is responsible for the management, maintenance and operations of the joint system. Ownership percentages were determined by joint agreement at the time the assets were acquired. The following is a summary of the facility’s financial information as of June 30,1985, the date of the most recent audited financial statements. Operating revenue Operating expenses $ 176,000 2,916,000 Operating loss $ (2,740,000) Contribution from participants $ 3,021,000 Total assets Total liabilities Total equity City of Carlsbad’s investment interest $66,579,000 $ 1,064,000 $65,515,000 $1 6,440,927 33 CITY OF CARLSBAD Notes to Combined Financial Statements, Continued _______ -- - - (6) Retirement Plan The City’s permanent employees are covered by the Public Employees Retirement System (PERS) of the State of California, in which the City participates. The total pension expense of the City for the cur- rent year was approximately $2,387,000 for current and past service costs. Pension costs are recorded as expenditures when paid and are funded by monthly contributions from the City and employees to PERS. Contributions are based on rates set by PERS based on certain actuarial assumptions, such as length of employment, estimated salary rates, mortality rates, projected retirement benefits and other factors. The actuarial cost method used is entry age normal cost. At June 30, 1986, the plan net assets attributed to the City for benefits totaled $16,128,413, and the present value of the City’s unfunded obligation for prior service costs totaled $20,632, which will be funded through the year 2000 from established contribution rates. The excess, if any, of the actuari- ally computed value of vested benefits to City employees over amounts available in the PERS pension fund is not determinable under the PERS system of accounting. (7) Deferred Compensation Plan The City has established a deferred compensation plan whereby City employees may elect to defer portions of their compensation in return for retirement, disability and death benefits. Amounts deferred may not exceed the lesser of $7,500 or 25% of a participant’s “includable compensation,” as defined in the participation agreement. The City makes no contribution to the plan. The City does not manage the deferred compensation plan. Instead, employees may choose between three financial institutions that offer ten different deferred compensation plans. These financial institutions invest plan assets in a combination of deferred compensation options in- cluding short-term certificates of deposit, bond funds, stock funds, and government securities. At June 30,1986, the amount of the deferred compensation investments (and the resulting deposits recorded in the Agency Fund) was $671,709. The City does not indemnify employees against losses incurred in the deferred compensation plans. Distributions are made upon the occurrence of the participant’s termination, retirement, death or total disability, and in a manner in accordance with the election made by the participant. All City employees are eligible for plan participation. (8) Obligations Under Capital Leases In 1981 the City entered into an agreement with the City of Oceanside to lease the public parking area surrounding a regional shopping area. Under the terms of the agreement, the City of Carlsbad agreed to pay an aggregate amount of $700,040 including interest of 10%. The annual principle and interest payments are to be $70,000 through 1991 and $1 annually for each of the remaining years of a fifty year lease. The City’s leasehold interest of $430,152 has been recorded in the City’s general fixed assets. In 1978 the City participated with the City of Oceanside for purchase of an automated circulation system for their respective libraries. The City’s leasehold interest of $102,025 is recorded in general fixed assets. The lease purchase requires annual payments of principal of $1 1,722 through August, 1986 with interest at 5% per annum. 34 ~-- __ ~ CITY OF CARLSBAD Notes to Combined Financial Statements, Continued The following is a summary by years of future minimum lease payments under capital leases (paid from the General Fund) and the present value of minimum lease payments at June 30,1986: Year Ending June 30 Annual Minimum Lease Payments 1987 $ 80,680 1988 70,000 1989 70,000 1990 70,000 1991 70,000 I Thereafter 40 I Total minimum lease payments Less amount representing interest 360,720 84,937 Present value of minimum lease payments $275,783 (9) Lease on Community Development Building In May, 1986, the City entered into a lease for the building at 2075 Las Palmas Drive. The building is to be used as the City’s Community Development Center. The departments of engineering, planning and development services have moved into the Community Development Center. The term of the lease is four years with an option to extend the lease for up to six additional years. I I The following is a summary by years of future minimum lease payments under the lease (paid from the General Fund) at June 30,1986: I I I Year Ending June 30 Annual Minimum Lease Payments 1987 $234,864 1988 234,864 1989 234,864 1990 195,720 Total minimum. lease payments $900,312 35 CITY OF CARLSBAD ____ - - .__ - ____ -. Notes to Combined Financial Statements, Continued (10) Long-Term Debt (a) Revenue bonds A summary of changes in Revenue Bonds Payable-Proprietary (Water Utility) Fund is shown: Balance Balance July 1,1985 Payments June 30,1986 1958 Waterworks Revenue Bonds, prin- cipal due in amounts ranging from $40,000 to $47,000 on July 1 of each year through 1988 (Interest is payable on January 1 and July 1 of each year at 4.10%) $1 77,000 $ 40,000 $1 37,000 1960 Watenvorks Revenue Bonds, prin- c.pal due in amounts ranging from $10,000 to $65,000 on July 1 of each year through 1990 (Interest is payable on January 1 and July 1 of each year at varying rates from 3.875% to 4.25%) 175,000 1970 Waterworks Revenue Bonds, prin- cipal due in amounts ranging from $80,000 to $100,000 on July 1 of each year through 1990 (Interest is payable on January 1 and July 1 of each year at varying rates from 6.00% to 6.90%) TOTAL Revenue Bonds Payable Less unamortized discount Less current portion TOTAL 550,000 80,000 470,000 $902,000 $1 30,000 $772,000 Debt service requirements to maturity are as follows: Schedule of 1958 Water Revenue Bonds Debt Service to Maturity Fiscal Interest Year Due July 1 1986-87 $ 2,809 1987-88 1,886 1988-89 964 TOTAL $ 5,659 Interest Due January 1 $ 1,886 964 0 $ 2,850 10,000 165,000 Total Interest $ 4,695 2,850 964 $ 8,509 36 ( 4,936) (140,000) $627,064 Principal Total Annual Due July 1 Debt Service $ 45,000 $ 49,695 45,000 47,850 $137,000 $1 45,509 47,000 47,964 8 1 1 1 I I I I I I I I I I 1 I I I 1 Fiscal Year 1986-87 1987-88 1988-89 1989-90 1990-91 TOTAL Fiscal Year CITY OF CARLSBAD Notes to Combined Financial Statements, Continued ~ ~~~ Schedule of 1960 Water Revenue Bonds Debt Service to Maturity Interest Interest Total Principal Total Annual Due July 1 Due January 1 Interest Due July 1 Debt Service $ 3,272 3,059 2,759 2,459 1,259 $12,808 Interest Due July 1 ~ 1986-87 1987-88 1988-89 1989-90 1990-91 TOTAL $15,185 12,338 9,278 6,000 3,000 $45,801 General Obliaation Bonds $ 3,059 2,759 2,459 1,259 0 $ 9,536 $ 6,331 5,818 5,218 3,718 1,259 $22,344 $ 10,000 15,000 15,000 60,000 65,000 $165,000 Schedule of 1970 Water Revenue Bonds Debt Service to Maturity Interest Total Principal Due July 1 Due January 1 Interest $1 2,338 9,278 6,000 3,000 0 $30,616 $27,523 21,616 15,278 9,000 3,000 $76,417 $ 85,000 90,OOO 95,000 100,000 100,000 $470,000 $ 16,331 20,818 20,218 63,718 66,259 $187,344 Total Annual Debt Service $1 12,523 11 1,616 1 10,278 109,ooo 103,OOO $546,417 A summaryof changes in general obligation bonds payable (serviced by the City’s Debt Service Fund) is as follows: Balance Balance July 1,1985 Payments June 30,1986 1962 Series A General Obligation Sewer Bonds, principal due in amounts ranging from $4O,OOO to $50,000 on July 1 of each year through 1988 (In- terest is payable on January 1 and July 1 at 3.5% per annum) $1 70,000 $ 40,000 $1 30.000 1962 Series 8 General Obligation Sewer Bonds, principal due in amounts ranging from $40,000 to $100,000 on July 1 of each year through 1991 (Interest is payable on January 1 and July 1 at rates varying from 3.5% to 3.6%) 440,000 40,000 37 400,000 CITY OFCARLSBAD Notes to Combined Financial Statements, Continued Balance Balance July 1,1985 Payments June 30,1986 1962 Series C General Obligation Sewer Bonds, principal due in amounts ranging from $20,000 to $25,000 on July 1 of each year through 1991 (In- terest is payable on January 1 and July 1 at rates varying from 3.7% to 3.75%) 1966 Library General Obligation Bonds, principal due in amounts ranging from $15,000 to $25,000 on January 1 of each year through 1992 (Interest is payable on January 1 and July 1 at 4.5% per annum) 1967 Carlsbad Building Authority Revenue Bonds, principal due in amounts ranging from $25,000 to $35,000 on December 15 of each year through 1992 (Interest is payable on December 15 and June 15 at 6.0% per annum) 1969 Carlsbad Parking Authority Revenue Bonds, principal due in amounts ranging from $75,000 to $125,000 on October 1 of each year through 1995 (Interest is payable on October 1 and April 1 at rates varying from 6.3% to 6.4%) 1981 Carlsbad Parking Authority Revenue Bonds, principal due in amounts ranging from $40,000 to $150,000 on February 1 of each year through 2001 (Interest is payable on August 1 and February 1 at 8% per annum) TOTAL 165,000 20,000 125,000 15,000 220,000 25,000 $1,025,000 $ 75,000 1,430,000 50,000 $3,575,000 $265,000 38 145,000 1 10.000 195,000 $ 950,000 1,380,000 $3,310,000 8 I 8- 8 1 I I I 8 I I I 1 I 1 1 8 I I 1 I 8 I 1 I I I I I I 1 I I I I I I I ~- ~~~~ CJTY OF CARLSBAD __ Notes to Combined Financial Statements, Continued Debt service requirements to maturity are as follows: Schedule of 1962 General Obligation Sewer Bonds, Series A, Debt Service to Maturity Fiscal Year 1986-87 1987-88 1988-89 TOTAL Fiscal Year 1986-87 1987-88 1988-89 1989-90 1990-91 1991 -92 TOTAL Fiscal Year 1986-87 1987-88 1988-89 1989-90 1990-91 1991-92 TOTAL Interest Interest Total Principal Due July 1 Due January 1 Interest Due July 1 $ 2,275 $ 1,575 $ 3,850 $ 40,000 1,575 875 2,450 40,000 875 -0- 875 50,000 $ 4,725 $ 2,450 $ 7,175 $1 30,000 Interest Due July 1 Schedule of 1962 General Obligation Sewer Bonds, Series B, Debt Service to Maturity $ 7,180 6,480 5,760 5,040 3,420 1,800 $29,680 Interest Due January 1 $ 6,480 5,760 5,040 3,420 1,800 -0- Total Interest Princip-l Due July 1 $13,660 12,240 10,800 8,460 5,220 1,800 $22,500 $52~ 80 $ 40,000 40,000 40,000 90,000 90,000 100,000 $400,000 Schedule of 1962 General Obligation Sewer Bonds, Series C, Debt Service to Maturity Interest Interest Total Principal Due July 1 Due January 1 Interest Due July 1 $ 2,707 2,338 1,875 1,406 937 469 $ 2,338 1,875 1,406 938 469 0 $ 9,732 $ 7,026 $ 5,045 4,213 3,281 2,344 1,406 469 $1 6,758 39 $ 20,000 25,000 25,000 25,000 25,000 25,000 $1 45,000 Total Annual Debt Service $ 43,850 42,450 50,875 $1 37,175 Ta alAnnual Debt Service $ 53,660 52,240 50,800 98,460 95,220 101,800 $452,180 Total Annual Debt Service $ 25,045 29,213 28,281 27,344 26,406 25,469 $161,758 Notes to Combined Financial Statements, Continued Schedule of 1966 General Obligation Library Bonds, Debt Service to Maturity Fiscal Year Interest Due Januarv 1 Total Interest Principal Due January 1 Total Annual Debt Service Interest Due July 1 $ 15,000 15,000 15,000 20,000 20,000 25,000 $ 2,475 2,138 1,800 1,462 1,013 562 $ 4,950 4,276 3,600 2,924 2,026 1,124 1986-87 1987-88 1988-89 198990 1990-91 1991 -92 TOTAL $ 2,475 2,138 1,800 1,462 1,013 562 $ 19,950 19,276 18,600 22,924 22,026 26,124 $ 9,450 $ 9,450 $18,900 $1 10,000 $1 28,900 Schedule of 1367 Revenue Bonds Carlsbad Building Authority, Debt Service to Maturity Fiscal Year Interest Due December 15 Interest Due June 15 Total Interest Principal Due December 15 Total Annual Debt Service $ 5,850 5,100 4,350 3,600 2,850 1,950 1,050 $ 5,100 4,350 3,600 2,850 1,950 1,050 0 $ 35,950 34,450 32,950 31,450 34,800 33,000 36,050 1986-87 1987-88 1988-89 198990 1990-91 1991 -92 1992-93 TOTAL $1 0,950 9,450 7,950 6,450 4,800 3,000 1,050 $ 25,000 25,000 25,000 25,000 30,000 30,000 35,000 $1 95,000 $238,650 $43,650 $24,750 $18,900 Schedule of 1969 Revenue Bonds Carlsbad Parking Authority, Debt Service to Maturity Fiscal Year Total Interest Principal Due October 1 $ 75,000 75,000 75,000 75,000 100,000 100,000 100,000 100,000 125,000 125,OOO Total Annual Debt Service $ 58,250 53,506 48,743 43,981 38,400 32,000 25,600 19,200 12,000 4,000 1986-87 1987-88 1988-89 1989-90 1990-91 1991 -92 1992-93 1993-94 1994-95 1995-96 TOTAL $ 133,250 128,506 123,743 1 18,981 138,400 132,000 125,600 1 19,200 137,000 129,000 $ 335,680 $ 950,000 $1,285,680 40 1 I 8 I 8 I 1 I I I I I I I I I I I I Fiscal Year CITY WCARLSBAD - Notes to Combined Financial Statements, Continued Schedule of 1981 Revenue Bonds Carlsbad Parking Authority, Debt Service to Maturity Total Interest Principal Due February 1 Total Annual Debt Service 1986-87 1987-88 1988-89 1989-90 1990-91 1991 -92 1992-93 199394 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 TOTAL $1 10,400 106,400 101,600 96,800 92,000 86,000 80,000 74,000 66,000 58,000 50,000 42,000 32,000 22,000 12,000 $ 50,000 60,000 60,000 60,000 75,000 75,000 75,000 100,000 100,000 1 00,OOO 100,000 125,000 125,000 125,000 150,000 $ 160,400 166,400 161,600 156,800 167,000 161 ,000 155,000 174,000 166,000 158,000 150,oM) 167,000 157,000 147,000 162,OOO $1,029,200 $1,380,000 $2,409,200 (1 1) Advances To and From Other Funds Advances to other funds Fund Amount General $1,369,618 Capital Projects 2,097,827 TOTAL $3,467,445 - 41 Advances from other funds Fund Amount Capital Projects $3,467,445 (Redevelopment Project) TOTAL $3,467,445 - CITYOFCARLSBAO __ - -~ Notes to Combined Financial Statements, Continued (12) Due to and From Other Funds The following table shows amounts due from funds in the City to other funds within the City: Due to: General Self Payroll Capital Sanit- Ins. Truz- General Constr. ation Liab. Agency Fund Fund'.) Fund Fund@) Fund Total Due From: General Fund Street Lighting Fund HUD-Section 8 Fund Library Bond Fund Water Utility Fund Sanitation Fund Vehicle Maintenance Fund Redevelopment Fund $- 17,315 6,300 - - - $23,615 67,302 $67,302 $71,435 $1,962 11 25 49 43 46 29 $2,165 - $9,337 54 41 145 102 107 92 $9,878 - $1 1,299 65 17,381 6,300 71,629 145 153 67,423 $1 74,395 Is) General Capital Construction Fund (b) Self-Insurance Liability Fund (13) Line of Credit The City has a line of credit of $1,000,000. This line of credit was not used as of June 30,1986. 42 8 I I I I I 8 1 I I I 1 I 1 I 1 I I 1 CITY OF CARLSBAD Notes to Combined Financial Statements, Continued --_ ~ - Fund BalanceslRetained Earnings The following is a summary of reserved and unreserved fund balances and retained earnings as of June 30,1986, with comparative figures for June 30,1985: Fund Balances: Reserved for prepaid expenses Reserved for inventory supplies Reserved for debt service Reserved for advances to Other funds Reserved for encumbrances Unreserved: Designated for approved capital projects Undesignated TOTAL Fund Balances Totals Governmental Fund Types (Memorandum Only) Special Debt Capital General Revenue Service Projects 1986 1985 $ 79,500 $ 87,223 $ - $ 6,650 S 173,373 $ 116,209 14,069 - - - 14,069 12,288 - - 654,658 2,097,827 2,752,485 668,622 1,369,618 - - 626,689 1,996,307 2,649,079 813,169 1,740,305 - 6,953,781 9,507,255 5,046,441 17,900 6,404,634 - 4,164,591 10,587,125 9,961,986 - (4,759,702) 894,050 6,544,l 05 2,678,453 8,728,058 $2,294,256 $3,472,460 $1,548,708 $20,393,643 $27,709,067 $27,182,683 Totals Proprietary Fund Types (Memorandum only) Enterprise Service 1986 1985 Internal Retained Earnings: Reserved for construction $ 445,851 $ - $ 445,851 $ 662,995 Reserved for debt service 91 1,291 - 91 1,291 887,441 Unreserved: Designated for approved capital projects 2,221,387 - 2,221,387 1,329,064 Undesignated 10,318,869 647,793 10,966,662 7,304,206 TOTAL Retained Earnings $13,897,398 $647,793 $1 4,545,191 $1 0,183,706 43 t CITY - .___ OF CARLSBAD .- .- - Notes to Combined Financial Statements, Continued Reserves for prepaid expenses, inventory supplies and advances to other funds are established to show that certain assets already committed to other purposes are not available for discretionary ex- pendi t ure. Reserves for encumbrances represent commitments related to unperformed contracts for services and undelivered goods. Reserves for debt service represent resources legally restricted to the payment of general long-term debt principal and interest maturing in future years. Reserves for construction represent commitments related to unperformed contracts for capital con- struction projects. Unreserved-designated for capital projects, identifies plans for and restrictions on the future use of financial resources for approved capital projects. Unreserved-undesignated represents the fund balance or retained earnings remaining after reduction for reserved and designated fund balances or retained earnings. In the combined special revenue funds, this account has a debit balance. Because many projects in the special revenue funds will be financed out of future revenues, the unreserved-undesignated fund balance represents the amount to be realized before projects may be completed. As of June 30,1986, the only funds with a deficit in fund balance were the Redevelopment Fund, a cap ita1 project fund with adeficit of $2,532,306, and the Library Bond Fund, a debt service fund with adeficit of $6,038. Changes in Contributed Capital Contributed Capital July 1, 1985 Enterwise Funds Water Utility $ 2,425,080 Sewer 19,757,360 TOTAL Enterprise Funds $22,182,440 Internal Service Funds Additions Contributed Cash Assets June 30,1986 Fixed Capital $- $- $ 2,425,080 - 73,993 19,831,353 $- $73,993 $22,256,433 Workers’ Compensat ion $ 500,000 $- $- S 500,000 General Liability Self-Insurance 850,000 - - 850,000 Central Garage 780,977 - - 780,977 Data Processing - 60,000 - 60,000 TOTAL Internal Service Funds $ 2,130,977 $60,000 $- $ 2,190,977 44 I I -1 I I I I I B I I I I I 8 I I 1 I Notes to Combined Financial Statements, Continued (16) Segment Information for Enterprise Funds The City maintains two enterprise funds that provide water and sewer services. Segment information for the year ended June 30,1986, was as follows: Operating revenues Depreciation and amortization Operating income (loss) Non-operating income or (expense) Net income Capital contributions Property, plant and equipment expenses (at cost): Additions Delet ions Net working capital Bonds payable from operating revenues Total Assets Total Equity Water Uti I i ty Fund $1,241,885 137,225 237,967 161,899 2,425,080 (76,OW 2,094 552,415 3,542,223 627,064 9,325,810 7,136,124 Sewer Fund $ 4,184,905 127,872 2,768,232 673,137 3,441,369 19,831,353 621,063 8,200,942 - 31,350,163 29,017,707 Total Enterprise Funds $ 5,426,790 265,097 2,692,164 91 1 ,I 04 3,603,268 22,256,433 623,157 552,415 11,743,165 627,064 40,675,973 36,153,831 (17') Assessment District Bond Issues On March 10, 1986, $460,942 in Assessment District Bonds were issued under provisions of the Improvement Bond Act of 1911. The bonds were issued to finance a public infrastructure improvements project in the area located north of Basswood Avenue between Highland Drive and Valley Street.This project includes construction of a new street (James Drive) complete with curbs, gutters, sidewalks, street lights, storm drain, sewer, water and all other utilities. On May 29,1986, $9,570,250 in Assessment District Bonds were issued under provisions of the Improve- ment Bond Act of 1915. The bonds were issued to finance a public infrastructure improvements project. The improvement project consists of the construction and improvement of College Boulevard to an improved paved street that extends from El Camino Real southwesterly to Palomar Airport Road. Street construction consists of grading, landscaping, irrigation, curb and gutter, sidewalk, raised medians, traffic striping, sign control, signals and minor drainage structures. The City has no obligation beyond the balances in the reserve funds for any delinquent assessment district bond payments. If delinquencies occur beyond the amounts held in the reserve funds, the City has no duty to pay the delinquency out of any available funds of the City. Neither the faith, credit nor taxing power of the City is pledged to the payment of the bonds. 45 I I CITY OF CARLSBAD Notes to Combined Financial Statements, Continued ~ -~ __ (18) Contingencies (a) The Water Utility Fund of the City and Costa Real Municipal Water District (the “District”) cur- rently are providing water services to most of the City under the terms of a basis of understanding negotiated in an effort to settle a law suit between the parties. Such understanding provides for a functional allocation of responsibilities between the Water Utility Fund and the District with several significant issues to be resolved by Joint Committee of the parties before a final compre- hensive agreement is reached. As a result of a final agreement, additional assets andlor liabili- ties may be transferred among the parties. (b) Single family Mortgage Revenue Bonds have been issued to provide funds to purchase mortgage loans secured by first trust deeds on newly-constructed and existing single-family residences. The purpose of this program is to provide low-interest-rate home mortgage loans to persons of low or moderate income who are unable to qualify for conventional mortgages at market rates. Multi-Family Housing Revenue Bonds are issued to provide construction and permanent financing to developers of multi-family residential rental projects located in the City to be partially occupied by persons of IC JY or moderate income. The following is a schedule of all such bonds issued since inception of the programs: Date Issued Amount October, 1983 April, 1985 May, 1985 June, 1985 TOTAL $20,000,000 16,000,000 16,500,000 15,000.000 $67,500,000 The bonds, together with interest thereon, are limited obligations of the City payable solely from bond proceeds, revenues, and other amounts derived solely from home mortgage and developer loans secured by first deeds of trust, irrevocable letters of credit, and irrevocable surety bonds. In the opinion of City officials, these bonds are not payable from any revenues or assets of the City, and neither the full faith and credit nor the taxing power of the City of Carlsbad, the State of California, nor any political sub-division thereof, is obligated to the payment of the principal or interest on the bonds. Accordingly, no liability has been recorded in the General Long-Term Debt Account Group. (c) The City is a defendant in certain legal actions arising in the normal course of operations. In the opinion of management and legal counsel, any liability resulting from these actions will not result in a material adverse effect on the City’s financial position. 46 D I I 1 I I 1 I 1 1 I I I I I I __ I GENERUW~ ~ __~ 8 To account for all financial transactions not accounted for in other funds. The majority of current opera- tion expenditures of the City other than property funds are financed through revenues received by the General Fund. 47 CITY OF CARLSBAD GENERAL FUND-SCHEDULE OF REVENUES-BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30,1986 TAXES Property taxes Property tax reimbursements Sales and use taxes Transient lodging taxes Franchise taxes Real property transfer taxes Cigarette taxes Trailer coach in-lieu tax TOTAL TAXES LICENSES AND PERMITS Vehicle licenses (in-lieu) Construction permits Business licenses License tax on new construction Other TOTAL LICENSES AND PERMITS CHARGES FOR SERVICES Zoning and subdivision fees Sales of maps and publications Plan checking fees Engineering fees Library and parks and recreation fees Police service fees Ambulance fees Environmental impact studies Other TOTAL CHARGES FOR SERVICES FINES AND FORFEITS Vehicle code fines Other TOTAL FINES AND FORFEITS INTEREST INCOME MISCELLANEOUS Reimbursed expenditures Sale of property Rents Other TOTAL MISCELLANEOUS TOTAL REVENUES Actual $ 6,147,812 191,462 6,222,008 1,157,794 586,470 331,062 185,279 29,916 14,851,803 Adjustment to Budgetary Basis $ - - - - - - - - -. Actual on Budgetary Basis $ 6,147,812 191,462 6,222,008 1,157,794 586,470 331,062 185,279 29,916 14,851,803 Budget $ 5,450,000 170,000 6,000,000 1,220,000 585,000 220,000 150,000 24.000 13.819.000 1,282,477 - 1,282,477 1,000,000 1,397,129 - 1,397~ 29 1,000,000 471,470 - 471,470 450,000 835,239 - 835,239 700,000 10,549 - 10,549 10,000 3,996,864 - 3,996,864 3,160,000 83,681 - 83,681 137,000 52,092 - 52,092 37,500 1,353,821 - 1,353,821 1,125,OOO 751,493 - 751,493 348,500 465,841 - 465,841 459,500 13,958 - 13,958 20,000 72,879 - 72,879 70,000 19,762 - 19,762 25,000 57,438 - 57,438 37,500 2,870,965 - 2,870,965 2,260,000 287,633 - 287,633 405,000 422 - 422 - 288,055 - 288,055 405,000 1,066,441 - 1,066,441 775,000 124,739 - 2,457 - 2,881 - 1,104,747 - 1,234,824 - $24,308,952 $ - 48 124,739 25,000 2.457 12,000 2,881 4,000 1 ,104,747 1,071,963 1.234.824 1.1 12,963 .. .. $24,308,952 $21,531,963 Variance Favorable (Unfavorable) $ 697,812 21,462 222,008 (62,206) 1,470 11 1,062 35,279 5,916 1,032,803 282,477 397,129 21,470 135,239 549 836,864 (53,319) 14,592 228,821 402,993 6,341 (6,042) 2,879 (5,238) 19,938 610,965 (1 17,367) 422 (1 16,945) 291,441 99,739 (9,543) (1 $1 19) 32,784 121,861 $2,776,989 1 I 8 8 I B 1 1 1 8 8 8 8 I 8 8 8 I 8 CITY OF CARLSBAD FOR THEYEAR ENDED JUNE 30,1986 G EN ER At Fl"- SCH EDU Lf 0 F Ex PEN OiTUR ES- WQGET-ANDACTUAL (BUDGETAKBASE- ~ Adjustment to Budgetary Basis Actual on Budgetary Basis Variance Favorable (Unfavorable) Actual Budget CURRENT GENERAL GOVERNMENT City Council City Manager City Clerk ResearchlAnalysis Group City Attorney Finance City Treasurer Information Systems Purchasing Insurance Personnel Planning Community Promotion Senior Citizens Programs Community Assistance Weed Abatement Contingencies Capital Improvements Building Maintenance Lease Development Processing Service Other TOTAL GENERAL GOVERNMENT $ 87,498 394,018 4,355 226,778 21 0,347 428,332 20,368 542,700 153,064 82,102 310,301 578,617 255,110 75,244 33,400 30,101 7,325 293,795 35,602 - $- 14,298 15,393 8,258 174,399 - - - - - 13,500 115,384 8,050 48,411 3,890 2,727 - - - $ 87,498 408,316 4,355 242,171 21 0,347 436,590 20,368 71 7,099 153,064 82,102 323,801 694,001 2551 10 83,294 33,400 7831 2 $ 113,280 406,234 5,260 263,812 202,708 435,238 21,822 812,893 166,004 82,283 306,142 71 6,776 255,111 119,783 33,400 78,900 45,549 29,115 349,383 172,4OO $ 25,782 (2,082) 905 21,641 (7,639) (1,352) 1,454 95,794 12,940 181 (1 7,659) 22,775 1 36,439 388 45,549 17,900 52,861 136,798 - - 11,215 296,522 35,602 224,700 126,513 238,432 139.213 13,577 11,700 224,855 127,513 - 4,120,270 405,465 4,525,735 468.003 4,993,738 PUBLIC SAFETY Fire Protection Police Protection Building Inspect ion Civil Defense TOTAL PUBLIC SAFETY 2,668,068 4,351,080 775,665 56.455 12,006 5,413 24,900 200 2,680,074 ,4,356,493 800,565 56,655 2,872,482 4,461,751 1,063,544 69,482 192,408 105,258 262,979 12,827 42.519 7,893,787 8,467,259 573,472 7.851.268 PUBLIC WORKS Engineering Streets Maintenance TOTAL PUBLIC WORKS 2,288,839 3,256,081 189,830 10,813 90,004 7,692 108,509 2,316,941 3,619,643 201,899 6.1 38,483 2,306,128 3,529,639 194,207 6,029,974 17,289 273,558 4,377 295,224 5,734,750 CULTURE AND RECREATION Parks and recreation Library TOTAL CULTURE AND TOTA L EX PEN 0 ITU R ES RECREATION 2,109,586 1,429,429 34,035 35,926 43,030 48,475 2,186,651 131 3,830 2,143,621 1,465,355 3,539,015 69,961 91,505 $1,241.489 3,700,481 3,608,976 $22,058,472 $21,245,303 $23,299,961 $81 3,169 49 Carlsbad Triathon I 50 ~~ SPECIAIREVENUE FUNDS Anden Group Mortgage Revenue Bonds To account for money available to the City for expenditures incurred due to Anden Group Mortgage Revenue Bonds. I I 1 8 1 1 Civic Arts Program To account for transfer from the General Capital Construction Fund to support the civic arts program. Community Development Block Grant To account for federal block grant for community development. Federal Grants To account for miscellaneous grants from the federal government, including Federal Aid Urban and Highway Bridge Repairs and Replacement. To account for receipts and expenditures of money apportioned under Streets and Highways Code Section 2106,2107 and 2107.5 of the State of California. Gas Tax Highway Maintenance To account for money received from the State of California for street maintenance and reconstruction. La Costa Mortgage Revenue Bonds To account for money available to the City for expenditures incurred due to La Costa Mort- gage Revenue Bonds. Library Audio Visual Insurance To account for revenue received and expenditures or1 rental of audio-visual material. Low and Moderate Income Housing To account for money administered by the Carlsbad Redevelopment Agency for designated low and moderate income housing. To account for money received by the City under a federal program distributing property con- fiscated from illegal activities. To account for revenue sharing grants from the federal government. Police Asset Forfeiture Revenue Sharing Seascape Mortgage Revenue Bonds To account for money available to the City for expenditures incurred due to Seascape Mort- gage Revenue Bonds. Section 8 Housing Authority To account for federal grant for low and moderate income housing supplemental payments. State Grants To account for Slate of California grants including Library Literacy, CLSA and Department of Transportation grants. To account for revenue received and expenditures made from property tax assessments for street lighting. Street Lighting 51 ~~ CITY OF CARLSBAD SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET JUNE 30,1986 WITH COMPARATIVE FIGURES FOR JUNE 30,1985 -~ ___ ASSETS Cash and investments Receivables: Loan Taxes Accounts Accrued interest Due from other governments Prepaid expenses Anden Group Mortgage Revenue Bonds $14,872 TOTAL ASSETS $14,995 LIABILITIES AND FUND BALANCES LIABILITIES Accounts payable Accrued wages payable Due to other funds Advances from other governments TOTAL LIABILITIES - FUND BALANCES (DEFICIT) Reserved for prepaid expenses Reserved for encumbrances Unreserved: Designated for approved capital projects Undesignated TOTAL FUND BALANCES TOTAL Ll AB1 LIT1 ES AND FUND BALANCES - 14,995 14,995 $14,995 Community Civic Development Arts . Block Program Grant $210,835 $290,851 - 11,663 - - 1,750 - - 18,496 - - $21 2,585 $321,010 $ 18,465 - - 18,465 - - - 66,899 - 301,082 21 2,585 (65,436) 212,585 302,545 $21 2,585 $321,010 Continued on next page 52 8 I 8 8 I I 1 8 1 1 8 I I I 8 1 I 1 I La Costa Mortgage Revenue Bonds Library Audio Visual Insurance Low and Moderate Income Housing $1 54,903 Federal Grants $ 882 Highway Maintenance $1 43,562 I Gas Tax $ 206,341 $1 6,896 $70,357 I - - 1,191 - - $144,753 $ 213,478 $1 7,036 $70,941 $1 56,189 $ 890 $ 5,641 - $ 970 - - 5,641 970 - 1 10.447 - 1.179 1,075,000 (1,074,110) 144,753 - 1,315,327 (1,217,937) 207,837 17,036 17.036 156,189 156,189 68,792 69,971 890 144,753 $ 890 $ 213,478 $1 7,036 $70,941 $156,189 $1 44,753 Continued on next page 53 ----cir OFdAR -~ ~ ~~ ~~ ~~ SBAD SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET JUNE 30,1986 WITH COMPARATIVE FIGURES FOR JUNE 30,1985 (Continued) ASSETS Cash and investments Receivables: Loan Taxes Accounts Accrued interest Due from other governments Prepaid expenses TOTAL ASSETS LlABlLlTlES AND FUND BALANCES LIABILITIES Accounts payable Accrued wages payable Due to other funds Advances from other governments TOTAL LIABILITIES FUND BALANCES (Deficit) Reserved for prepaid expenses Reserved for encumbrances Unreserved: Designated for approved capital projects Undesignated TOTAL FUND BALANCES TOTAL LIABILITIES AND FUND BALANCES Police Asset Forfeiture Revenue Sharing Seascape Mortgage Revenue Bonds $1,937,009 - - - 15,666 - - $1,952,675 -- $ 137,413 - - - $17,920 - - - 149 - - $18,069 $- - - - 137.413 - 805,643 755,104 254,515 3,351 1,815,262 18,069 $3,351 $1,952,675 $18,069 Continued on next page 54 Section 8 Housing Authority $ 92,315 - - - - 47,660 87,223 $227,198 $ 863 6,670 17,381 97,882 122,796 87,223 - - 17,179 104,402 State Grants $ 199,656 - - - 6,487 - - ~ ~ Street Lighting $383,326 - - 7,301 3,220 - - $ 206,143 - $ 158,486 1,632 - - $393,847 $ 28,698 6,534 65 - 160,118 - 756,138 2,813,367 (3,523,480) 46,025 35,297 - - - 358,550 ~ Totals 1986 1985 $3,743,048 1 7,663 7,301 37,769 66,156 87,223 $3,953,160 - t 350,536 14,836 17,446 97,882 480,700 87,223 1,740,305 6,404,634 (4,759,702) 358,550 3,472,460 $227,198 $ 206,143 $393,847 $3,953,160 55 $4,629,343 4,874 8,826 2,887 231,014 72.709 - $4,949,653 $ 137,321 7,909 98,940 - 244,170 72,709 300,181 5,668,936 (1,336,343) 4,705,483 $4,949,653 CITY OECARLSBAD - - ______ - SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30,1986 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30,1985 REVENUES Taxes Intergovernmental Charges for services Interest income Miscellaneous revenues TOTAL REVENUES EXPENDITURES Public works Welfare Culture and recreation Capital outlay Miscellaneous TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EX PEN D ITU R ES OTHER FINANCING SOURCES (USES): Operating transfers in (out) TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUE AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES AT BEGINNING OF YEAR TRANSFERS OUT AT END OF YEAR FUND BALANCES RESIDUAL EQUITY FUND BALANCES Anden Group Mortgage Revenue Bonds $- 14,000 995 - - Civic Arts Program $- e - 6,585 - Community Development ' Block Grant $- 67,034 11,773 1,925 - 14,995 6,585 80,732 6,585 156,000 - - - 24,605 24,605 - 56,127 134,023 156,000 134,023 14,995 162,585 190,150 - 50,000 1 12,395 $14,995 $21 2,585 $302,545 Continued on next page 56 8 a La Costa Mortgage Revenue Bonds Library Audio Visual Insurance Low and Moderate Income Housing 16 75,487 - - 9,075 - Federal Grants Highway Maintenance Gas Tax $599,243 - $- 283,759 $- $- - - 1,406 1,406 - $- 44,421 5,209 49,630 - - - 2,874 286,633 - 80 54,069 - 653,312 84,562 141,880 - 236,228 141,880 21.626 80 - 144,753 41 7,084 1,406 28,004 84,562 - (653,312) (653,312) 1 8 80 (236,228) 144,753 1,406 28,004 84,562 810 444,065 15,630 41,967 71,627 $144,753 $890 $207,837 - - $17,036 $69,971 $1 56,189 Continued on next page 57 CITY OF CARLSELAD SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES FORTHE YEAR ENDED JUNE 30,1986 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30,1985 (Continued) REVENUES Taxes Intergovernmental Charges for service Interest income Miscellaneous TOTAL REVENUES EXPENDITURES Public works Welfare Culture and recreation Capital outlay Miscellaneous TOTAL EXPENDlTURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FiNANClNG SOURCES (USES): Operating transfers in (out) TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUE AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCES AT BEGINNING OF YEAR RESIDUAL EQUlPl TRANSFERS OUT FUND BALANCES AT END OF YEAR Police Asset Forfeiture Revenue Sharing Seascape Mortgage Revenue Bonds - $ 455,941 21 2,975 - - 668.91 6 - - 1,575,546 - 1,575,546 3,351 - - 3,351 - - $3,351 (906,630) (906,630) 2,721,892 - $1,815,262 1,494 - - 1,494 16,575 $1 8,069 - Continued on next page 58 I i I I I I i I I 1 I I I I I I I I a Section 8 Housing Authority $ 1,056,072 12,596 - - - State Grants - $ 1,062,086 68,401 - - Street Lighting $407,587 - - 31,265 - 1,068,668 1 , 1 30,487 438,852 - 1,052,394 - - - 47,490 149,864 1,616,842 2,888 - 488,190 - - - 1,052,394 1,817,084 488,190 16.274 (686,597) - - (49,338) - 16,274 88,128 $ 104,402 - (686,597) 734,506 (1,884) $ 46,025 (49,338) 407,888 - $358,550 Totals 1986 1985 $ 1,082,317 2,924,892 58,421 418,841 5.232 4,489,703 677,560 1,052,394 171,490 3,453,221 2,888 5,357,553 (867,850) (363,289) (363,289) (1,231,139) 4,705,483 $3,472,460 (1,884) 59 $1,037,066 2,057,849 61,957 502,257 2,134 3,661,263 457,974 860,556 205,480 1,413,244 - 2,937,254 724,009 (548,000) (548,000) 176,009 4,479,474 50,000 $4,705,483 CITY OF CARLSBAD SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL(BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30,1986 ~~ __ Anden Group Mortgage Revenue Bonds Civic Arts Program Actual on Budgetary Basis Actual on Budgetary Basis Budget Budget I I I I REVENUES: Taxes Intergovernmental Charges for services Interest income M i scel I aneous revenue $- 14,000 995 - - Total revenues 14,995 6,585 5,000 EXPENDITURES: Public works Welfare Culture and recreation Capital outlay Miscellaneous Total expenditures 1 I 156,000 Excess (deficiency) of revenues over expenditures 6.585 (1 51.0001 14,995 Other Financing Sources (Uses): Operating transfer in (out) Total other financing sources (uses) 156.000 156,000 Excess (deficiency) of revenue and other financing sources over expenditures and other financing uses $14,995 $1 62,585 $0 51 .OOO) Continued on next page I I I I I Community Development Block Grant Federal Grants Gas Tax Actual on Budgetary Basis Actual on Budgetary Basis Actual on Budgetary Basis Budwt Budget Budget $ - 545,490 - $ 67,034 1 1,773 1.925 - $ 599,243 - $ 528,419 - - 50,000 - - 54,069 - 80,732 578,419 653,312 545,490 240,986 1,075,000 - - - 1,661,503 - - - - 91,504 - 91,504 393,421 1,661,503 (1.083.0841 346,675 1,075,000 393,421 (1 52,435) -- 306.637 (529,510) (1 0,772) ., . . (653,312) (653,312) $(346,675) - (718,419) (718,419) 134,023 134,023 $(1,801,503) $(529,510) $(152,435) $1 23,251 Continued on next page 61 CITY OF CARLSBAD SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL(BUDGETARY BASIS) FORTH E YEAR ENDED-JUN E 30,1986 (Con tin ued) -~ REVENUES: Taxes Intergovernmental Charges for services Interest Income Miscellaneous Total revenues revenues EX PEN DlTU REF,: Public works Welfare Culture and recreation Capital outlay Miscellaneous Total expenditures Excess (deficiency) of revenues over Other Financing Sources (Uses) I expend it ures Operating transfers in (out) Total other financing sources(uses) Excess (deficiency) of revenue and other financing sources over expenditures and other financing uses Highway Maintenance Actual on Budgetary Basis 286.633 Budget $ 278,000 - - - 278,000 141,880 - - - - 141,880 144,753 141,880 136,120 $1 44,753 $136,120 La Costa Mortgage Revenue Bonds Actual on Budgetary Basis s, - - 1,406 - 1,406 - - - - - 1,406 - $1,406 Continued on next page I 62 I 1 I m I I I I Library Audio Visual Insurance Low and Moderate Income Housing Police Asset Forfeiture Actual on Budgetary Basis Actual on Budgetary Basis Actual on Budgetary Basis Budget Budget Budget $- $7 5,487 $1 10,000 - - 15,000 $- 44,421 5,209 - - $- - 45,000 5,000 - - 50,000 - 9,075 3,307 3,351 125,000 84,562 49.630 22,805 25,208 24.792 3,351 - 84,562 125,000 26.825 !3 3,351 $1 25,000 $84,562 $24,792 Continuedon next page 63 I- I __ - CITY OF CARLSBAD ~~~ SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THEY EAR ENDED JUNE 30,1986 (Continued) REVENUES: Taxes Intergovernmental Charges for services Interest income Miscellaneous revenues Total revenues EXPENDITURES Public works Welfare Culture and recreation Capital outlay Miscellaneous Total expenditures Excess (deficiency) of revenues over expenditures Other Financing Sources (Uses) Operating transfers in (out) Total other financing sources (uses) Excess (deficiency) of revenue and other financing sources over expenditures and other financing uses Seascape Mortgage Revenue Sharing Revenue Bonds Actual on Budgetary Actual on Budgetary Basis - $ 455,94 1 21 2,975 - Budget - $ 575,000 - - - 575,000 - - - 3,136,293 - 2,381 ,I a9 (1,712,273) - - 3,136,293 (2,561,293) - Basis - $(1,712,273) $(2,561,293) $1,494 $- Continued on next page 64 I I 1 I I 1 1 I I 1 I I I I Section 8 Housing Authority Street Lighting Actual on State Grants Actual on Actual on Budgetary Basis $ 1,056,072 12,596 - - Budgetary Basis Budgetary Basis $ 1,062,086 - - 68,401 Budget $397,000 Budget - $ 988,000 20,000 - Budget 5,544,588 - $ - - $407,587 - 31,265 - 30,000 1,068,668 1,009,600 1,130,487 5.544.588 438,852 427,000 488,190 - 503,764 - 253,323 54,177 160,084 2,356,073 2,888 - - 1,056,079 - - 1,052,394 - 217,605 4,970,294 1,052,394 1,056,079 2,573,222 5,441,222 503,764 488,190 16,274 (46,479) (1,442,735) 103,366 (49,338) (76,764) $ (49,338) $ (76,764) $ 16,274 $ (46,479) $(1,442,735) $ 103,366 Continuedon next page 65 CITY OF CARLSBAD SPECIAL REVENUE FUNDS FORTHEYEAR ENDED JUNE30,1986 (Continued) I COMBINING STATFMENTOF REVENUES AND EXPEND~TURES-BBUDGE'FAND AGTUALdBUDGffARY BASiS)-- - -- REV EN U ES: Taxes Intergovernmental Charges for services Interest income Miscellaneous revenues Total revenues EXP EN D ITU RES Public works Welfare Culture and recreation Capital outlay Miscellaneous Total expend it ures Excess (deficiency) of revenues over expenditures Other Financing Sources (Uses): Operating transfers in (out) Total other financing sources (uses) Excess (deficiency) of revenue and other financing sources over expenditures and other financing uses 66 Totals 1986 Actual on Budgetary Basis $1,082,317 2,924,892 58,421 418,841 5.232 4,489,703 684,247 1,052,394 182,889 5,175,441 2.088 7.097.859 (2,608,156) (363,289) (363,289) $(2,971,445) Budget $1,035,419 8,172,064 45,000 125,000 1,600 9,379,083 1,973,967 1,056,079 398,813 10,161,511 -- 13,590,370 (4,211,287) (7 1 8,4 1 9) Variance Favorable (Unfavorable) $ 46,898 (5,247,172) 13,421 293,841 3.632 (4,889,380) 1,289,720 3,685 215,?24 4,986,070 (2,888) 6,492,511 1,603,l 31 355,l 30 (71 8,419) $(4,929,706) 355,130 $1,958,261 I 1 I I I I I I I I I I 1 I I I I I I I I I I I I I 1 I I I I I I 1 _. - -. ___ __ - ~ ~~ CITY OF CARCSBAD SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Anden Group Mortgage Revenue Bonds Adjustment to Budgetary Actual Basis R EVEN U ES Charges for services $1 4,000 $- Interest income 995 - TOTAL REVENUES $14,995 $- Actual on Budgetary Basis $1 4,000 995 $1 4,995 Variance Favorable Budget (Unfavorable) $- $14,000 - 995 $- $14,995 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 Civic Arts Program STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Adjustment Actual on Variance to Budgetary Budgetary Favorable REV EN U ES Interest income $ 6,585 $ - $ 6,585 $ 5,000 $ 1,585 TOTAL REVENUES 6,585 - 6,585 5,000 1,585 EXPENDITURES 156,000 156,000 Culture and recreation - TOTAL EXPENDITURES - - - 156,000 156,000 OTHER FINANCING SOURCES Operating transfers in 156,000 - 156,000 - 156,000 TOTAL OTHER FINANCING SOURCES 156,000 - 156,000 - 156,000 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES $162,585 $ - Actual Basis Basis Budget (Unfavorable) - - $162,585 $(151,000) $313,585 67 ~- __ CITY OFCARCSBAO SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Community Development Block Grant Adjustment to Budgetary Basis Variance Favorable (Unfavorable) Actual on Budgetary Basis $ 67,034 11,773 1,925 REVENUES Intergovernmental Interest income Miscellaneous Actual Budget $240,986 - $ 67,034 11,773 1,925 $( 173,952) 11,773 1,925 TOTAL REVENUES 80,732 80,732 240,986 (1 60,254) EXPENDITURES Capital outlay 24,605 TOTAL EXPENDITURES 24,605 66.899 91,504 393.421 301.91 7 66.899 91,504 393,421 301.91 7 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 56,127 OTHER FlNANClNG SOURCES Operating transfers in 134,023 TOTAL OTHER FINANCING SOURCES 134,023 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES $ 190,150 141,663 (66,899) (1 0,772) (1 52,435) 134,023 134,023 134,023 134,023 $123,251 $275,686 $( 66,899) $(152,435) CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) ~~ Federal Grants Adjustment to Budgetary Basis Actual on Budgetary Basis Variance Favorable Budget (Unfavorable) $ 545,490 $ (545,490) - 80 545,490 (545,410) Actual REVENUES Intergovernmental Interest income $- 80 $- 80 80 - TOTAL REVENUES 80 EXPEN DlTU RES Public works 1,075,000 1,075,000 - - 1,075,000 1,075,000 - - - - - - TOTAL EXPEN DITURES EXCESS (DEFICIENCY) OF REVENUES $80 - - OVER EXPENDITURES $- - - $80 $ (529,510) $ 529,590 68 CITY OF CARLSBAD I SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30,1986 GasTax Adjustment Actual on Variance to Budgetary Budgetary Favorable Taxes $599,243 $ - $599,243 S 528,419 $ 70,824 REVENUES Interest income 54,069 - 54,069 50,000 4,069 I TOTAL REVENUES 653,312 653,312 578,419 74,893 Actual Basis Basis Budget (Unfavorable) EXPENDITURES Capital outlay 236,228 110,447 346,675 1,661,503 1,314,828 TOTAL EX PEN DITURES 236,228 110,447 346,675 1,661,503 1,314,828 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 417,084 (1 10,447) 306,637 (1,083,084) 1,389,721 OTHER FINANCING USES Operating transfers out (653,312) - (653,312) (716,419) - 65,107 (653,312) - (653,312) (718,419) 65,107 I TOTAL OTHER FINANCING USES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER I FINANCING USES $(236,228) $(110,447) $(346,675) $(1,801,503) $1,454,828 1 -- -- CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL(BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30,1986 1 I High way Maintenance Variance Adjustment Actual on to Budgetary Budgetary Favorable REVENUES Actual Basis Basis Budget (Unfavorable) Intergovernmental $283,759 $- $283,759 $278,000 $5,759 Interest income 2,874 - 2,874 - 2,874 1 TOTAL REVENUES 286,633 - 286,633 278,000 8,633 EXPENDITURES Public works 141,880 - 141.880 - 141,880 1 TOTAL EXPENDITURES 141,880 - 141,880 141,880 - I EXCESS OF REVENUES OVER EXPENDITURES $144,753 $- $144,753 $136,120 $8,633 69 CITY OF CARLSBAD SPECIAl-RE1IENtlfi FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 La Costa Mortgage Revenue Bonds ~___~______~ - ~~ STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Adjustment Actual on to Budgetary Budgetary REVENUES Actual Basis Basis Interest income $1,406 $- $1,406 TOTAL REVENUES $1,406 $- $1,406 Variance Favorable Budget (Unfavorable) $- $1,406 $- $1,406 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL(BUDGETARY BASIS) Library Audio Visual Insurance REVENUES Actual Charges for services $44,421 Interest income 5,209 TOTAL REVENUES 49.630 Adjustmert to Budgetary Basis $- - Actual on Budgetary Basis $44,421 5,209 49,630 EXPENDITURES Current: Culture and recreation 21,626 1,179 22,805 Budget $45,000 5,000 50,000 25.208 TOTAL EXPENDITURES 21,626 1,179 22,805 25,208 EXCESS ( DEFlC I ENCY) OF REVENUES OVER EX PEN DITURES $28,004 $( 1,179) $26,825 $24,792 Variance Favorable (Unfavorable) $ (579) 209 (370) 2,403 2,403 $2,033 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Low and Moderate Income Housing Adjustment to Budgetary REVENUES Actual Basis Taxes $75,487 $- Interest 9,075 - TOTAL REVENUES $84,562 $- Actual on Budgetary Basis Budget $75,487 $1 10,000 9,075 15,000 $84,562 $125.000 70 Variance Favorable (Unfavorable) $(34,513) (5,925) $( 40,438) I I I I 1 I I I 1 I 1 1 1 I I I I I I ~~~~~~~~ ~~ CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-8UDGET AND ACTUAL (BUDGETARY BASIS) Police Asset Forfeiture Adjustment to Budgetary Actual Basis REVENUES Miscellaneous $3,307 $- Interest income 44 - TOTAL REVENUES $3,351 $- Actual on Budgetary Basis Budget 44 - $3,307 $- $3,351 $- Variance Favorable (Unfavorable) $3,307 44 $3,351 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 Revenue Sharing STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Adjustment Actual on to Budgetary Budgetary REVENUES Intergovernmental $ 455,941 $ - $ 455,941 Interest income 21 2,975 - 21 2,975 TOTAL REVENUES 668,916 - 668,916 Actual Basis Basis Variance Favorable $ 575,000 $(119,059) - 21 2,975 575,000 93,916 Budget (Unfavorable) EXPENDITURES Capital outlay 1,575,546 805,643 2,381,189 3,136,293 755,104 TOTAL EXPENDITURES 1,575,546 805,643 2,381,189 3,136,293 755,104 EXCESS (DEFiCI.ENCY) OF REVENUES OVER EXPEN DITURES $ (906,630) $(805,643) $(1,712,273) $(2,561,293) $849,020 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30,1986 Seascape Mortgage Revenue Bonds Adjustment Actual on Variance to Budgetary Budgetary Favorable Actual Basis Basis Budget (Unfavorable) REV EN U ES interest income $1,494 $- $1,494 $- $1,494 -- TOTAL REVENUES $1,494 $- $1,494 $- $1,494 71 -I ~ ~ ClTY OF CARLSBAD SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 - STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Section 8-Housing Authority Variance Favorable (Unfavorable) Adjustment to Budgetary Basis Actual on Budgetary Basis b a 1 i I I 1 1 1 I I I I i 1 Actual $1,056,072 12,596 - Budget $ 988,000 20,000 1,600 REVENUES Intergovernmental Interest income Miscellaneous TOTAL REVENUES EXPENDITURES Welfare TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES $1,056,072 12,596 - $68,072 (7,404) (1,600) 1,068,668 1,068.668 1,009,600 1,056,079 1,056,079 $ (46,479) -- -- 59,068 3,685 3,685 $62,753 1,052,394 1.052.394 1,052,394 $ 16,274 1,052,394 $ 16,274 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) State Grants Adjustment to Budgetary Basis Actual on Budgetary Basis Variance Favorable (Unfavorablel Actual Budget $5,544,588 5,544,588 - 253,323 21 7,605 4,970,294 - R EVEN U ES Intergovernmental Interest income TOTAL REVENUES $1,062,086 68,401 $1,062,086 68,401 1,130,487 54,177 160,084 2,356,073 2,8813 $(4,482,502) (4,414,101) 68,401 1,130,487 47,490 149,864 1,616,842 2,888 1,817,084 $ (686,597) EXPENDITURES Pub1 ic works Culture and recreation Capital outlay Miscellaneous TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 6,687 10,220 739,231 - 199,146 57,521 2,614,221 (2,8813) 756,138 2,573,222 5,441,222 2,868,000 $(756,138) $(1,442,735) $ 103,366 $( 1,546,101 ) 72 ~ CJTY OF CARLSBAD ~-~ SPECIAL REVENUE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Street Lighting REVENUES Taxes Interest income TOTAL REVENUES EXPENDITURES Public works TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES Actual $407,587 31,265 Adjustment to Budgetary Basis Actual on Budgetary Basis $407,587 31,265 Budget $397,000 30,000 Variance Favorable (Unfavorable) $1 0,587 1,265 438,852 438,852 427,000 11,852 488,190 488,190 503,764 15,574 488.190 ~~~ $ (49,338) $- 488,190 $ (49,338) 503.764 15,574 $ (76,764) $27,426 73 74 Poinsettia Bridge I 1 I I I 1 I R I I I I I I I i I I 1 I I I I Library Bonds To accumulate property taxes specifically levied for payment of debt service on the 1966 Library General Obligation Bonds. Sewer Bonds To accumulate property taxes specifically levied for payment of debt service on the 1962 Series A, B and C Sewer General Obligation Bonds. Parking Authority To account for receipts received by the Parking Authority from the General Fund for payment of debt service on 1969 and 1981 Parking Authority revenue bonds. Building Authority . To account for receipts received by the Building Authority from the General Fund for payment of debt service on the 1967 Building Authority revenue bonds. 75 CITY OF CARCSBAD DEBT SERVICE FUNDS COMBINING BALANCESHEET JUNE30,1986 WITH COMPARATlVE FIGURES FOR JUNE 30,1985 Sewer Bonds Parking Authority Building Authority Totals Library Bonds ASSETS Cash and investments $2,545 Taxes receivable 192 Accrued interest receivable - TOTAL ASSETS $2,737 1985 - 1986 - $1,543,718 $1,570,011 1,855 1,576 $143,921 1,663 $1,316,101 - $81,151 - 22.979 1,094 $1 46,678 24,073 26,513 $1,569,646 $1,598,100 - $81,151 $1,339,080 LIABILITIES AND FUND BALANCES LlABlLlTl ES Accrued payables $2,475 Due to other funds 6,300 $ 12,163 - $ 14,638 $ 16,746 6,300 - 20,938 16,746 TOTAL LIABILITIES 8,775 12,163 FUND BALANCE Reserved for debt service Reserved for working . capital U n rese wed TOTAL FUND BALANCES TOTAL LIABILITIES AND FUND BALANCES 134,515 467,706 53.975 650,158 6641 22 3,000 868,374 1,339,080 1,500 25,676 81.151 4,500 4,500 894,050 91 2,732 1,548,708 1,581,354 - - 134.515 $ 2.737 $1 46,678 $1,339,080 $81,151 $1,569,646 $1,598,100 76 -~ - ~ CITY OFCARLSBAD DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30,1986 WITH COMPARATlVE FIGURES FOR THE YEAR ENDED JUNE 30,1985 Library Sewer Parking Building Totals Bonds Bonds Authority Authority 1985 - 1986 - REVENUES Taxes $14,061 $114,191 $ - $- $ 128,252 $ 108,092 Interest income 11 7,063 103,069 6,834 116,977 146,717 TOTAL REVENUES 14,072 121,254 103,069 6,834 245,229 254,809 EXPENDITURES Current: Debt service: General government - Principal retirement 15,000 100,000 Interest and fiscal charges 5,402 24,325 TOTAL EX PEN DlTU RES 20,402 124,325 DEFICIENCY OF REVENUES OVER EXPENDITURES (6,330) (3,071) OTHER FINANCING SOURCES Operating transfers in TOTAL OTHER FIN AN CI N G SOURCES EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AT BEGINNING OF YEAR AT END OF YEAR FUND BALANCES, FUND BALANCES, 2,176 2,347 4,523 125,000 25,000 265,000 176,175 1 2,450 21 8,352 303,35 1 39,797 487,875 (200,282) (32,963) (242,646) 3,466 230,000 2 3 2,O 2 3 465,489 (21 0,680) - 174,000 36,000 210,000 21 0,000 - - 174,000 36,000 21 0,000 210,000 (6,330) (3,071) (26,282) 3,037 (32,646) (680) 292 137,586 1,365,362 78.1 14 1,581,354 1,582,034 $ (6,038) $134,515 $1,339,080 $81,151 $1,548,708 $1,581,354 R EVEN U ES: Taxes Interest Income Total revenues EXP EN DlTU RES: Current: Debt service: General government Principal retirement Interest and fiscal charges Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES: Operating transfers in Total other financing sources Excess (deficiency) of revenues and other financing sources over expenditures 1 I i I 1 I i 1 I 1 1 I I U I 1 CITY OF CARLSBAD DEBT SERVICE FUNDS FORTHEYEAR ENDED JUNE30,1986 COMBINING STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) __ ~___ __ ~~ Library Bonds Actual on Budgetary Basis Budget $14,061 $21,000 11 1,000 14,072 22,000 15,000 5,402 15,000 5,624 20,402 20,624 $46,330) $1,376 Continued on next page Sewer Bonds Parking Authority Building Authority Actual on Budgetary Basis Actual on Budgetary Basis Actual on Budgetary Basis Budget Budget Budget $114,191 7,063 $1 20,000 10,000 - $ 103,069 - $ 103,069 - $ 6,834 - $ 6,834 121.254 130,000 103,069 6,834 103,069 6,834 2,176 2,176 2,347 2.347 100,000 24,325 124,325 100,000 26,095 126,095 125,000 176,175 25,000 12,450 39,797 (32.9631 125,000 176,175 303,351 (200,282) 25,000 12,450 39,797 , 303,351 (32.9631 3,905 (200,282) .. , .. , 174.000 36,000 36,000 174,000 174.000 174.000 36,000 36,000 $ 3.037 $ 3.037 5126.282) $ 3,905 $(26,282) -. , , Continued on next page 79 CITYOF CARLSBARD DEBT SERVICE FUNDS CO M B I N I N G STAT EM E NT O F REV EN U ES AN D EX P EN D ITU R ES= BU DG ET A N D- ACJUAL(B U DG ETARY BAS IS$ FOR THE YEAR ENDED JUNE 30, 1986 (Continued) I- TOTALS 1986 Actual on Budgetary Basis REVENUES: Taxes Interest Income Total revenues EXPEN DlTU RES: Current: Debt service: General government Principal retirement Interest and fiscal charges $1 28,252 11 6,977 245,229 4,523 265,000 218.352 Total expenditures 487.875 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES: Operating transfers in Total other financing sources Excess (deficiency) of revenues and other financing sources over expenditures (242,646) 21 0,000 21 0,000 $ (32,646) 80 Va ira nce Favorable (Unfavorable) Budget $1 41,000 120,903 261,903 4,523 265,000 220,344 489,867 (227,964) 21 0,000 210.000 $ (17,964) - 1,992 1,992 (1 4,682) - $ (14,682) ._ - ~ CITY OF CARLSBAD DEBT SERVICE FUND PfPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Library Bonds REVENUES Taxes Interest income TOTAL REVENUES EXPENDITURES Debt service: Principal retirement Interest and fiscal charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES Actual on Budgetary Basis Variance Favora bie (Unfavora blel Adjustment to Budgetary Basis $- Actual Budget $21,000 1,000 22,000 15,000 5,624 $14,061 11 14,072 15,000 5,402 $1 4,061 11 14,072 15,000 5,402 20.402 20,402 20,624 222 $ 1,376 $ (6,330) $ (6,330) CITY OF CARLSBAD DEBT SERVICE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 Sewer Bonds STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Adjustment to Budgetary Basis Actual on Budgetary Basis Variance Favora ble (Unfavorable) Actual Budget $1 20,000 10,000 REVENUES Taxes Interest income TOTAL REVENUES $1 14,191 7,063 $1 14,191 7,063 121,254 100,000 24,325 124,325 $ (3,071) 121,254 130,000 EXP EN DlTU RES Debt service: Principal retirement Interest and fiscal charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPE N D ITU R ES 100,000 24,325 100,000 26,095 - 1,770 ~ 124,325 $ (3,071) 126.095 1,770 $ 3,905 $(6,976) - -- ~~~ Cln OF CARLSBAD DEBT SERVICE FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Parking Authority REVENUES Interest Income Actual $1 03,069 Adjustment to Budgetary Basis Actual on Budgetary Basis Budget Variance Favorable (Unfavorable) $- $1 03,069 $103,069 $- TOTAL REVENUES 103,069 103,069 103,069 EXPENDITURES Current: Debt service: General government Principal retirement Interest and fiscal charges TOTAL EXPENDITURES DEFICIENCY OF REVENUES OVER EXPENDITURES 2,176 125,000 176,175 303,351 (200,282) OTHER FINANCING SOURCES Operating transfers in 174,000 TOTAL OTHER FINANCING SOURCES 174,000 (DEFICIENCY) OF REVENUE AND OTHER FINANCING SOURCES OVER EXPENDITURES $ (26,282) 2,176 125,000 176,175 303,351 (200,282) 174,000 2,176 125,000 176,175 303,351 (200,282) 174,000 174,000 174,000 82 $ (26,282) $ (26,282) $- I I -- 8- i I I I 1 1 I 8 I I I 1 i I I I I I I I I I I I I I I I I I I I I I I CITY OF CARCSBAO DEBT SERVICE FUND TYPES FOR THE YEAR ENDED JUNE 3,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) ~~ ~ Building Authority Variance Favorable (Unfavorable) $- - - - - - - - - $- Actual on Budgetary Basis $ 6,834 6,834 Adjustment to Budgetary Basis $- Budget $ 6,834 6,834 Actual $ 6,834 6,834 REVENUES Interest income TOTAL REVENUES EXPENDITURES Current: Debt service: General government Principal retirement Interest and fiscal charges TOTAL EXPENDITURES DEFICIENCY OF REVENUES OVER EXPENDITURES 2,347 2,347 2,347 25,000 25,000 25,000 12,450 12,450 12,450 39,797 39,797 39,797 (32,963) (32,963) (32,963) OTHER FINANCING SOURCES Operating transfers in . TOTALOTHER FINANCING SOURCES AND OTHER FINANCING SOURCES OVER EXPENDITURES EXCESS OF REVENUES 36,000 36,000 36,000 ~ 36,000 36,000 36,000 $ 3,037 $ 3,037 $ 3,037 $- 83 Tr-\ :, . . 1. . .. .:. . . ... . . . . . . . 1 .... .. .. .. 84 I I 1- I I I 1 I I I I I I I I 1 I 1 I I E I I I b I I I 1 I I I I I I I I I . __ __ CAPITALPROJ ECIT FUN OS ~~ ~ Capital Construction To account for transfers from the General Fund for various municipal capital projects. Public Facilities Construction To account for receipts of fees charged to developers for specific capital projects necessi- tated by growth. Park Development To account for receipts of fees charged to developers for park acquisition and development. Bristol Cove To acccount for receipts from special assessments used for capital improvement in Bristol Cove. Planned Local Drainage Facilities To account for receipts of fees charged to developers for drainage facilities necessitated by growth. Redevelopment Project To account for financial resources segregated for the rehabilitation of commercial and public property located within the Carlsbad Village area. Traffic Impact To account for receipts of fees charged to developers improvement. 85 For street construction and L1 I Y Ut GARLYLJAU CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET JUNE 30,1986 WITH COMPARATIVE FIGURES FOR JUNE 30,1985 ASSETS Cash and investments Accrued interest receivable Due from other funds Advances to other funds Prepaid expenses TOTAL ASSETS LIABILITIES AND FUND BALANCES LIABILITIES Accounts payable Accrued wages payable Due to other funds Advances from other funds TOTAL LIABILITIES FUND BALANCES (DEFICIT) Reserved for prepaid expenses Resewed for encumbrances Reserved for repayment of advances Reserved for debt service U n rese wed: Designated for approved capital projects Undesignated TOTAL FUND BALANCES (DEFICIT) TOTAL LIABILITIES AND FUND BALANCES Capital Construction Public Facilities Construction Park Development $ 8,320,044 67,302 2,097,827 - - $1 0,485,173 $ 270,251 - - - 270,251 - 1,276,287 2,097,827 1,530,567 5,310,241 - 10,214,922 $10,485,173 86 $9,383,278 77,859 - - - $9,461,137 $2,615,894 21,860 - - - $2,637,754 $ 749,010 $ 15,931 - - - - - - 749,010 15,931 - - 4,567,095 942,154 - - 81 9,433 662,496 3,325,599 1,017,173 8,712,127 2,621,823 $9,461,137 $2,637,754 Continuedon next page I I E I i I 1 1 1 I I 1 I I I 1 I I I I I I I 1 I I I I I I I I I I I Bristol Cove $- e - - - Planned Local Drainage Facilities $1,314,735 10,915 - - - Redevelopment Project $1,050,833 5,160 - - 6,650 Tr a f f ic Impact $51,004 423 - - - $- Totals 1986 1985 $22,735,788 116,217 67,302 6,650 2,097,827 $19,743,835 - - 1,450,000 - $1,325,650 $1,062,643 $51,427 $25,023,784 $21,193,835 - 14,463 - - 1,311,187 1,325,650 $1,325,650 $ 46,477 13,604 67,423 3,467,445 3,594,949 6,650 153,782 626,689 - 1,100,668 (4,420,0951 (2.532.3061 51,427 $1,062,643 87 $51,427 $ 1,081,669 13,604 67,423 3,467,445 4,630,141 6,650 6,953,781 626,689 2,097,827 4,164,591 6,544,105 $ 177,775 7,847 - 2,362,542 2,548,164 - 3,476,130 1,736,537 - 4,281,335 9,151,669 20,393,643 $25,023,784 18,645,671 $21,193,835 I I ~~~__ ~- CJTY OF CARLSBAD __-__ ~ CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 3,1986 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30,1985 REVENUES Taxes Charges for services Interest income TOTAL REVENUES EXPENDITURES Capital outlay Debt service: r3TAL EXPENDIT'JRES EXCESS (DEFCENCY) OF REVENUES Interest and fiscal charges OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Operating transfer in Operating transfer out TOTAL OTHER FINANCING SOURCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCES (DEFICIT) AT BEGINNING OF YEAR RESIDUAL EQUITY TRANSFERS IN (OUT) FUND BALANCES (DEFICIT) ATENDOFYEAR Capital Construction Public Facilities Construction Park Development - .$ 237,612 145.0oO 382,612 ~ ~ 2,201,034 - - $ 4,966,803 757,998 5,724,801 4,751,079 - - $ 794,598 197,034 991,632 273,403 2,201,034 4,751,079 273,403 (1,818,422) 973,722 71 8,229 3,038,299 (1 56.0oO) 2.882.299 1,063,877 973,722 71 8,229 9,151,045 7,738,405 1,903,594 - - - $10,214,922 $8,712,127 $2,621,823 Continued on next page 88 I I I I I I 1 1 I I I I I 1 I Totals Planned Local Drainage Facilities $ 427,680 94,753 - Traffic Impact Bristol Cove $- Redevelopment Project $ 301,947 1986 1985 $ 122,176 6,064,089 90 1 .030 $- 50,750 677 51,427 $ 301,947 6,477,443 1,254,962 8,034,352 59.500 7,087,295 522,433 361,447 4,180 1,650,170 8,879,866 3,205,998 236,255 1,886,425 236.255 9,116,121 56.977 3,262,975 4.180 51 8,253 (1,524,978) 51,427 3,824,320 (1,081,769) 3,038,299 (1 56,000) 2,882.299 (30,000) 51 8,253 (1,524,978) 51,427 1,8OO753O 3,794,320 (1,007,328) - 52,558 (52,558) 807,397 - 18,645,671 (52,558) 11,222,607 3,628,744 $1,325,650 $(2,532,306) $51,427 $20,393,643 $18,645,671 $- 89 CITY OF CARLSBAD CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL(BUDGETARY BASIS) ~~ FOR THE YEAR ENDED JUNE 30,1986 Capital Construction Public Facilities Construction Actual on Budgetary Basis Actual on Budgetary Budget Basis Budget Revenues: Taxes Charges for services Interest income $- $- 3- $- 237,612 145,000 163,000 - 4,000,000 - 4,966,803 757,998 5,724,801 Total revenues 382.612 163,000 4,000,000 EXPENDITURES: Capital outlay Debt service: Interest and fiscal charges 3,477,321 4,997,130 9,318,174 10.137.607 Total expenditures 10,137,607 (6,137,607) 3,477,321 (3,094,709) 4,997,130 (4,834,130) 9,318,174 (3,593,373) Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfer in Operating transfer out 3,038,299 (1 56,000) 2,448,161 2,882,299 2,488.1 61 Total other financing sources (uses) Excess (deficiency) of revenue and other financing sources over expenditures and other financing uses $(2,345,969) $(3,593,373) $(6,137,607) $(212,410) -- Continued on next page I I I I Planned Local Drainage Facilities Park Development Bristol Cove I Actual on Budgetary Actual on Budgetary Basis Actual Budgetary Basis Budget Budget Budget Basis I $- $ 427,680 400,000 94,753 - 522,433 400,000 - $ 922,000 138,000 1.060.000 794,598 197,034 991.632 .. 1,215,557 - 1,878,052 - 18,643 18,643 - - 18,643 18,643 503,790 381,357 1,878,052 (81 8,052) 1,215,557 (223,925) $- $- $503,790 $381,357 $(818,052) $(223,925) Continued on next page 91 CITY 0 F, CA RLS BAD I CAPITAL PROJECT FUNDS FORTHEYEAR ENDED JUNE30,1986(Continued) COM BI NI NG STATEMENT-OF REV EN UES AND U(PENDlITURES--BUD1;E7;AND~C~(BUDGETARY BASISL REVENUES Taxes Charges for services Interest income Total revenues EXPEN DiTU RES: Capital outlay Debt service: Interest and fiscal charges Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Operating transfer in Operating transfer out Total other financing sources (uses) Excess (deficiency) of revenue and other financing sources over expenditures and other financing uses. Redevelopment Project Actual on Budgetary Basis $301,947 59,500 - 361.447 1,803,952 236,255 2,040,207 (1,678,760) Budget $440,000 60,000 500,000 - 2,870,325 - 2,870,325 (2,370,325) - - $(1,678,760) $( 2,370,325) Continued on next page 92 1 I I I 1 I 1 i 1 I I I 1 I I 1 I I I I I I I I 1 I I I I I I I Totals 1986 Trafflc Impact Actual on Budgetary Basif? Actual on Budgetary Basis $- 50,750 677 51,427 - - Variance Favorable (Unfavorable) Budget $ - - Budget $ (138,053) 992,443 1,056,962 $ 301,947 6,477,443 1,254.962 $ 440,000 5,485,000 198,000 6,123,000 1,911,352 8,034,352 15,833,647 19,901,757 - 4,068,110 (236.255) 3,831,855 5 , 743,207 550,138 (1 56,000) 394.1 38 236,255 16,069,902 19.901.757 - 51,427 - - (8,035,550) (13,778,757) 2,488,161 3,038,299 (1 56,000) 2,882,299 2,488~ 61 $51,427 $ - -- $(5,153,251) $(11,290,596) $6,137,345 - 93 ~- ~~ __ -__~___ CITY OECARLSBAD - -~ CAPITAL PROJECTS FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30,1986 Capital Construction Adjustment to Budgetary REVENUES Actual Basis Charges for services $ 237,612 $ - Interest income 145,000 - TOTAL REVENUES 382,612 - Actual on Budgetary Basis $ 237,612 145,000 382,612 Variance Favorable $ 163,000 $ 74,612 145,000 163,000 21 9,612 Budget (Unfavorable) - EXPENDITURES Capital outlay 2,201,034 1,276,287 3,477,321 4,997,130 1,519,809 TOTAL EXPEN DlTU R ES 2,201,034 1,276,287 3,477,321 4,997,130 1,519,809 DEFICIENCY OF REVENUES OVER EXPENDITURES (1,818,422) (1,276,287) (3,094,709) (4,834,130) 1,739,421 0T:IER FINANCING SOURCES (IISES): Operating transfers in 3,038,299 - 3,038,299 2,488,161 550,138 Operating transfers out (1 56,000) - (1 56,000) - (1 56,000) TOTAL OTHER FINANCING SOURCES (USES) 2,882,299 - 2,882,299 2,488,161 394,138 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $ 1,063,877 $(1,276,287) $ (212,410) $(2,345,969) $2,133,559 CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL(6UDGETARY BASIS) Public Facilities Construction REVENUES Charges for services Interest income TOTAL REVENUES EXPENDITURES Capital outlay TOTAL EX PEN DlTUR ES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES Actual $4,966,803 757,998 5,724,801 4,751,079 4,751,079 $ 973,722 Adjust men t to Budgetary Basis - $ - - 4,567,095 4,567,095 $(4,567,095) 94 Actual on Variance Budgetary Basis $4,966,803 757,998 5,724,801 Favorable $ 4,000,000 $ 966,803 - 757,998 4,000,000 1,724,801 Budget (Unfavorable) I 1 9,318,174 10,137,607 81 9,433 9,318,174 10,137,607 819,433 $(3,593,373) $ (6,137,607) $2,544,234 I I I 1 1 I I I I I I I I I I I I I _____ - - CITY OF CARLS8AD CAPITAL PROJECTS FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL(BUDGETARY BASIS) Park Development REVENUES Actual Charges for services $794,598 Interest income 197,034 Adjustment to Budgetary Basis Actual on Budgetary Basis Budget Variance Favorable (Unfavorable) $ 794,598 197,034 $ 922,000 138,000 $( 127,402) 59.034 TOTAL REVENUES 991,632 991,632 1,060,000 (68,368) EXPEN DlTU R ES Capital outlay 273,403 TOTAL EXPENDITURES 273,403 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES $71 8,229 942,154 1,215,557 1,878,052 942,154 $(942,154) 1.21 5.557 $ (223,925) 1,878,052 $ (818,052) 662,495 662,495 $594,127 I CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL(BUDGETARY BASIS) Planned Local Drainage Facilities REVENUES Actual Charges for service $427,680 Interest income 94,753 TOTAL REVENUES 522,433 EXPEN DlTU RES Capital outlay 4,180 TOTAL EXPENDITURES 4,180 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES $51 8,253 Adjustment to Budgetary Basis $- - - 14,463 14,463 f( 14,463) 95 Actual on Budgetary Basis $427,680 94,753 522,433 18,643 18,643 Budget $400,000 400,000 - 18,643 18,643 $503,790 $381,357 Variance Favorable (Unfavorable) $ 27,680 94,753 122,433 $1 22,433 ~~ __ . CITY OF CARLSBAD CAPITAL PROJECE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30,1986 Redevelopment Project Adjustment Actual on Variance to Budgetary Budgetary Favorable REVENUES Actual Basis Basis Budget (Unfavorable) Taxes $ 301,947 $ - $ 301,947 $ 440,000 $ (138,053) 59,500 60,000 (500) Interest income 59,500 - TOTAL REVENUES 361,447 - 361,447 500,000 (1 38,553) EXPENDITURES Capital outlay 1,650~ 70 153,782 1,803,952 2,870,325 1,066,373 Debt service: Interest and fiscal charges 236,255 - 236,255 - (236,255) TOTAL EXPENDITURES 1,886,425 153,782 2,040,207 2,870,325 830,118 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 81,524,978) $(153,782) 81,678,760) $(2,370,325) $ 691,565 -- CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES FOR THE YEAR ENDED JUNE 30,1986 STATEMENT OF REVENUES AND EXPENDITURES-BUDGET AND ACTUAL (BUDGETARY BASIS) Traffic Impact Adjustment to Budgetary REVENUES Actual Basis Interest income 677 Charges for services $50,750 $- TOTAL REVENUES $51,427 $- 96 Actual on Variance Budgetary Favorable Basis Budget (Unfavorable) $50,750 $- $50,750 677 - 677 $51,427 $- $51,427 I 1 1 1 1 1 I 1 I I 1 I 1 1 I 1 1 I I ._ ENTERPRISE FUND ._ Water Utility To account for the operation and maintenance of the City’s water system and the payment of debt service on the 1958,1960 and 1970 Waterworks revenue bonds. Sewer To account for the operation and maintenance of the City’s sewer system. 97 CITY OF CAR4SaAZL ___.. . ENTERPRISE FUNDS COMBINING BALANCE SHEET JUNE 30,1986 WITH COMPARATIVE FIGURES FOR JUNE 30,1985 I ASSETS Cash and investments Receivables: Accounts Accrued interest Due from other funds Inventory, at cost Prepaid expenses TOTAL CURRENT ASSETS RESTRICTED ASSETS Cash and investments Accrued interest TOTAL RESTRICTED ASSETS INVESTMENT IN SEWAGE TREATMENT FACILITY PROPERTY, PLANT AND EQUIPMENT Land and water rights Buildings Structures and improvements Wells. resewoirs, and dams Transmission and distribution lines Sewers, sewer lines and wells Filters and pumps Fire hydrants Equipment and vehicles Fire protection service Construction in progress TOTAL PROPERTY, LESS ACCUMULATED DEPRECIATION NET PROPERTY, TOTAL ASSETS PLANT AND EQUIPMENT PLANT AND EQUIPMENT Water Utility Sewer $3,501,912 1,282,801 23,649 135,218 4,943,580 - - 552,931 4,590 557,521 - $ 8,063,102 8,380 67,030 71,435 14,674 - 8,224,621 - - 16,440,927 231,956 37,188 1,289~ 52 4,068,674 4,684 203,345 5,759 - - - - 227,250 37,948 - - - 5,090,446 - - 450,563 2,657,916 - 5,840,758 (2,016,049) 3,824,709 $9,325,810 8,464,123 (1,779,508) 6,684,615 $31,350.1 63 Totals 1986 1985 $1 1,565,014 1,291,181 90,679 71,435 149,892 1 3,168,201 - 552,931 4,590 557,521 16,440,927 459,206 37,188 37,948 1,289,152 4,068,674 5,090,446 4,684 653,908 5,759 2,657,916 - 14,304,881 (3,795,557) 10,509,324 $ 7,430,181 1,212,322 63,016 125,217 5,320 8,836,056 - 51 1,460 - 51 1,460 16,366,984 459,206 37,964 37,948 1,289,853 4,074,095 4,535,307 147,349 372,811 669,487 5,759 2,604,423 14,234,202 (3,723,780) 10,510,422 $40,675,973 $36,224,922 I 1 I I I I 8 I I I I Continued on next page 98 I I I I I I I I I 1 I n I I I I I I I LlABl LIT1 ES Current Liabilities (payable from current assets) Accounts payable Accrued wages Deposits payable Due to other funds TOTAL CURRENT LIABI LIT1 ES (payable from current assets) Current Liabilities (payable from restricted assets) Accrued interest Current portion of revenue bonds payable TOTAL CURRENT LIABILITIES (payable from restricted assets) TOTAL CURRENT LIABILITIES Long-Term Liabilities Revenue bonds payable net of unamortized discount of $4,936 in 1986 ($6,170 in 1985) Deferred revenue TOTAL LIABILITIES FUND EQUITY Contributed capital Retained earnings: Reserved for construction Reserved for debt service Unreserved: Designated for approved Undesignated capital projects TOTAL RETAINED EARNINGS TOTAL FUND EQUITY TOTAL LIABILITIES AND FUND EQUITY Water Utility $1,266,378 22,529 40,822 71,628 . -~ Sewer $ 11,281 12,252 146 - 1,401,357 21,265 140,000 161,265 1,562,622 627,064 - 2,189,686 ~~ 2,425,080 445,851 91 1,291 65,609 3,288,293 23,679 - - 1986 - $ 1,277,659 34,781 40,822 71,774 1,425,036 21,265 140,000 161,265 1985 - $ 378,392 25,708 . 60,628 63,016 527,744 24,938 130,000 154,938 23,679 - 2,308,m 2,332,456 19,831,353 - - 2,155,778 7,030,576 1,586,301 627,064 2,308,777 4,522,142 22,256,433 445,851 91 1,291 2,221,387 10,318,869 682,682 765,830 2,454,778 3,903,290 22,182,440 622,995 887,441 1,329,064 7,299,692 4,711,044 9,186,354 13,897,398 10,139~ 92 7,136~ 24 $9,325,810 99 29,017,707 $31.350.1 63 36,153,831 32,321,632 $40,675.973 $36,224,922 1 I I I 1 I 1 I i 1 I I 1 I 1 I I I I __- CITY OF CARLSBAD ~~~~- ENTERPRISE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED JUNE 30,1986 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30,1986 Water Utilitv 1986 $ 930,107 1,607,828 2,544,325 336,238 8,380 (88) - 1985 $ 816,247 1,437,221 1,971,135 31 1,959 779 1,710 - Sewer 1,607,828 2,544,325 24,372 8,380 - $ - OPERATING REVENUES Metered water sales Sewer service charges Sewer connection fees Other charges for services Reimbursed expenses Miscellaneous revenue TOTAL OPERATING REVENUES $ 930707 1,241,885 4,184,905 5,426,790 4,539,05 1 OPERATING EXPENSES Personnel services Office expenses Repairs and maintenarze Professional services Insurance Purchased water Loss on disposal of property Bad debt expense Depreciation and amortization TOTAL OPERATING EXPENSES OPERATING INCOME (LOSS) 314,700 3,773 147,609 81 2,626 7,900 878,573 66,256 336,055 823,192 4,090 360,391 (1 0,878) 265,097 11,850 702,849 60,293 631,452 872,025 9,935 3,519 19,623 247,618 - 563,873 62,483 188,446 10,566 3,950 4,090 360,39 1 (1 3,07 1) 137,225 1,317,953 (76,068) 2,193 127,872 1,416,673 2,768,232 2,734,626 2,547,314 2,692,164 1,991,737 NON-OPERATING REVENUES (EXPENSES) Interest income Interest expense and fiscal agent fees REVENUES, NET TOTAL NON-OPERATINNG NET INCOME RETAINED EARNINGS AT BEGINNING OF YEAR PRIOR PERIOD ADJUSTMENT RETAINED EARNINGS AT BEGINNING OF YEAR, AS ADJUSTED RETAINED EARNINGS AT END OF YEAR 280,498 673,137 - 953,635 762,078 (42,531 (42,531) (50,138) 237,967 673.137 91 1 , 1 04 71 1,940 3,603,268 2,703,677 3341,369 161,899 5,744,985 - 10,139~ 92 7,653,015 154,938 (21 7,500) 4,394,207 154,938 5,744,985 10,294,130 7,435,515 4,549,145 $4,711,044 $9,186,354 $1 3,897,398 $10,139,192 100 CITY OF CARLSBAD __ ~~ ENTERPRISE FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED JUNE 30,1986 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30,1985 SOURCES OF WORKING CAPITAL Operat ions: Net income Items not requiring working capital: Depreciation and amortization Loss on disposal of property Working capital provided by operations Contribution from other funds TOTAL SOURCES OF WORKING CAPITAL USES OF WORKING CAPITAL Acquisition of property, plant, Decrease in long-term revenue Reduction of deferred revenue Net increase (decrease) in restricted assets TOTAL USES OF WORKING CAPITAL NET INCqEASE IN WORKING CAPITAL and equipment bonds payable and related liabilities ELEMENTS OF NET INCREASE (DECREASE) IN UNRESTRICTED WORKING CAPITAL Cash and investments Accounts receivable Accrued interest receivable Inventory Prepaid expenses Due from other funds Accounts payable Accrued wages payable Deposits payable Due to other funds NET INCREASE IN WORKING CAPITAL Water Utility Sewer $ 161,899 137,225 360.39 1 659,515 - 659,515 2,094 140,000 - 39,734 Totals 1986 1985 $3,441,369 127,872 3,569,241 3,569,241 - - 621,063 - 146,001 - $3,603,268 265,097 360,391 4,228,756 4,228,756 - 623.1 57 140,000 146,001 39,734 181,828 767,064 948,892 S 477,687 $2,802.1 77 $3,279,864 $1,440,719 70,428 23,649 21,041 - - (1,083,277) (6,067) 19,806 (8,612) $ 477,687 $2,694,114 8,380 67,030 3,634 (5,320) 8,419 29,072 (3,006) (1 46) $2,802,177 - 101 $4,134,833 78,808 90,679 24,675 (5,320) 8,419 (1,054,205) (9,073) 19,806 (8,758) $2,703,677 247,618 2,951,295 2,000 2,953,295 - 224,068 130,000 109,000 (108,565) 354,503 $2,598,792 $2,100,740 21 4,599 19,922 - (1,072) - 249,911 (13,192) 27,884 - $3,279,864 $2,598,792 SDGLIG “Encina” Power Plant 102 ~ _______ ~ _. INTERNAL SERVICE FUNDS Workers’ ComDensation ~~ To account for receipts from other funds to insure against Workers’ Compensation claims. General Liability Self-Insurance To account for receipts from other funds to insure against liability claims against the City. Central Garage To account for receipts from other funds to provide fleet maintenance and replacement. Health Insurance To account for receipts from other funds and from employees to provide health insurance full-time City employees. Data Processing To account for receipts from other funds for data processing services. for 103 - - _. - __~ CITYOF CARLSBAD INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET JUNE 30,1986 WITH COMPARATIVE FIGURES FOR JUNE 30,1985 ASSETS Current Assets Cash and cash equivalents Accrued interest receivable Accounts receivable Due from other funds TOTAL CURRENT ASSETS PROPERTY AND EQUIPMENT Machinery and equipment Less accumulated depreciation NET PROPERTY AND EQUIPMENT TOTAL ASSETS Workers' Compensation General Liability Self Insurance $1,182,548 9,981 - 1,192,529 - - $1,605,343 10,962 - - 1,616,305 - - Central Garage $ 29,160 2,149 248 - - 31,557 1,626,199 (804,796) . 821,403 $1 9 192,529 $1,616,305 LIABILITIES AND FUND EQUITY Current Liabilities Accounts payable Accrued wages payable Due to other funds Estimated claims payable TOTAL CURRENT LIABILITIES TOTAL LIABILITIES Contributed Capital Contributed from other funds - $ - - 255,640 255,640 255,640 500,000 $ 5,043 - - 654,957 660,000 660,000 850,000 $ 33,770 16,798 153 50,721 50,721 - 780,977 Retained Earnings Reserved Unreserved TOTAL RETAINED EARNINGS TOTAL FUND EQUITY TOTAL LIABILITIES AND FUND EQUITY - 106,305 - 21,262 436,889 106.305 21,262 936,889 956.305 802,239 $1.192.529 $1.61 6,305 Continued on next page 104 I I Totals Health Insurance Data Processing 1986 1985 $96,599 1,141 2.165 - $60,000 - $2,973,650 24,233 248 2.165 1 $1,942,199 167 - - - 60,000 99,905 3,000,296 1,942,366 1,626,199 (804,796) 1,556,629 (795,034) 821,403 761,595 $99,905 $60,000 $3,821,699 $2,703,961 $ 44,235 15,280 $16,568 - - - 16,568 16,568 $ 55,381 16,798 153 910,597 982,929 982,929 508,955 568,470 568,470 60,000 2,190,977 2,130,977 I - 83,337 - 647,793 - 4.514 83,337 647,793 4,514 83,337 60,000 2,838,770 2.1 35.491 $99,905 $3,821,699 $2,703,961 105 __ __ ~ __ ~- CITY OF CARLSBAD COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED JUNE 30, 1986 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30, 1985 I NTERNALSERVICE FUNDS OPERATING REVENUE Other charges for services Reimbursed expenses M isce II aneous revenue TOTAL OPERATING REVENUE OPERATING EXPENSES Personnel services Office expense Repairs and maintenance Professional services Depreciation Fuel Supplies and parts Claims expense Other operating charges TOTAL OPERATING EXPENSES OPERATING INCOME (LOSS) NON-OPERATING REVENUES Interest revenue Sale of property TOTAL NO N-OPERATI NG REV EN U ES OTHER FINANCING SOURCES Operating transfers in TOTAL OTHER FINANCING SOURCES NET INCOME RETAINED EARNINGS (DEFICIT) AT BEGINNING OFYEAR RETAINED EARNINGS AT END OF YEAR 106 Workers’ Compensation General Liability Self Insurance Is- 386,959 - - $ 395,600 - 386,959 395,600 - - 238,216 - 238,216 461,652 148,743 (66,052) 91,934 - 99,461 - 91.934 99,461 ~~ - 240,677 196,212 $436,889 285,000 285,000 31 8,409 (21 2,104) $106,305 Continued on next page I I I I I 1 1 Totals Central Garage Health Insurance Data Processing $- e - 1986 . 1985 $691,331 20 46 $ 52,744 . 300,320 $ 772,669 495,269 1.259 $ 744,075 46 1,827.020 1,082,aw - 353,064. ~ 691,397 1.269.197 ~~ 240,154 10,942 15,133 140,040 185,697 85,608 56,852 - - 240,154 10,942 56,852 15,133 140,040 185,697 85,608 971,790 - 244,033 7,791 77,310 6,543 141,349 190,176 81,180 404,028 - 734,426 271,922 1,706,216 1,152,410 (43,029) 81,142 120,804 11 6,787 16,959 26,926 43,885 - 21 6,657 20,787 237,444 2,195 2,195 - 21 0,549 26,926 237,475 285,000 285,000 a56 20,406 83,337 643,279 4,514 354,231 (349,717) $ 4,514 - $ 83,337 $ 21,262 $ 647.793 $- 1 07 __ ~~~ ~~ CITY OF CARLSBAD INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED JUNE 30,1986 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30,1985 SOURCES OF WORKING CAPITAL Operations: Items not requiring working capital: Net income Gain on sale of property Depreciation Working capital provided by operations Proceeds from sale of property Contributions from other funds TOTAL SOURCES OF WORKING CAPITAL USES OF WORKING CAPITAI, Acquisition of property, plant and equipment TOTAL USES OF WORKING CAPITAL NET INCREASE (DECREASE) IN WORKING CAPITAL ELEMENTS OF NET INCREASE (DECREASE) Cash and investments Accounts receivable Accrued interest receivable Estimated claims payable Accounts payable Accrued wages payable Due to other funds NET INCREASE (DECREASE) IN WORKING CAPITAL IN WORKING CAPITAL Workers’ Compensation $240,677 General Liability Self Insurance $31 8,409 - - 240,677 31 8.409 240,677 - - $240,677 $261,295 9,981 (40,896) 10,297 - - - $240,677 - - 31 8,409 - - $318,409 $671,112 10,962 (360,746) (2s 9) - - - .$318,409 Continued on next page 108 I I I I 1 Central Garage Health Insurance $ 856 (26,926) 140.040 $83,337 Data Processing $- 11 3,970 83,337 - - 113,970 172,922 172,922 $ (58,952) - 60,000 83,337 - - $83,337 $96,599 2,165 1,141 - (16,568) - - 60,060 - - $60,000 $ (58,952) $83,337 $60,000 Totals 1986 1985 $ 643,279 $354,231 (26,926) (20,787) 140,040 141,349 756,393 474,793 - 24,048 60,000 35,521 816,393 534,362 172,922 317,645 172,922 31 7,645 $ 643,471 $216,717 $1,031,451 2,246 24,233 (401,642) (1 1 , 146) (1 951 8) (153) $202,502 (476) (21,545) - 46,654 (10,418) - $ 643,471 $216,717 109 Downtown Carlsbad 110 __ __ - .___ ~~ AGENCY FUNDS Deferred Compensation Agency Fund To account for amount employees have deposited in deferred compensation plans offered by the City. Contractors’ Deposits Agency Fund To account for money deposited by contractors for designated future development. Miscellaneous Deposits Agency Fund To account for money deposited with the City for various items. 111 CITY OF CARLSBAD AGENCY FUNDS- -~ COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FOR THE YEAR ENDED JUNE 30,1986 Deferred Compensation Agency Fund ASSETS Cash and investments LIABILITIES Deferred compensation payable Contractors’ Deposits Agency Fund ASSETS Cash and investments LIABILITIES Deposits payable Miscellaneous Deposits Agency Fund ASSETS Cash and investments Accrued interest Due from other funds TOTAL ASSETS LIABILITIES Accounts payable Deposits payable TOTAL LlABl LlTl ES Totals-All Agency Funds ASSETS Cash and investments Accrued interest Due from other funds TOTAL ASSETS LI A BI LlTl ES Accounts payable Deposits payable Deferred compensation payable TOTAL LIABILITIES Balance July 1, 1985 $449,977 $449,977 Additions $221,732 $221,732 $31 1,581 $ 8,115 $31 1,581 $ 8,115 $2,289,926 105,901 - $22,283,813 82,801 9,878 $2,395,827 $22,376,492 $ 243,543 2,152,284 $2,395.827 $3,051,484 105,901 $3,157,385 $ 356,989 22,469,985 $22.826.974 $22,513,661 82,801 9,878 $22,606,340 $ 243,543 2,463,865 449,977 $ 356,989 22,478,100 221,732 $3,157,385 112 $23,056,821 Balance June 30, Deductions 1986 $- $671,709 $- $671,709 $225,567 $ 94,129 $225,567 $ 94,129 $1 2,174,715 $1 2,399,024 - 82,801 105,901 9,878 $12,280,616 $12,491,703 $ 243,543 $ 356,989 12,487,555 1 2,134,7 14 $12,731,098 $12,491,703 $12,400,283 $13,164,862 - 82,801 105,901 9,878 $12,506,184 $13,257,541 $ 243,543 $ 356,989 12,713,122 12,228,843 - 671,709 $1 2,956,665 $1 3,257,541 I I I I 1 1 I 113 - ~ CITY OF CARLSBAB General Expenditures by Function Last Ten Fiscal Years Total‘l) General Cul t ure Fiscal (Memo Govern- Public Public Recrea- Capital Debt Year Only) ment Safety Works Welfare(zl tion Projects Service@’ 1976-77$ 6,944,657 $1,811,106 $1,846,324 $1,288,248 0 $1,077,064 $ 744,700 $147,215 1977-78 8,755,846 2,191,287 2,407,823 2,048,980 0 1,123,954 839,505 144,297 1978-79 10,216,677 2,634,931 2,634,839 2,053,091 0 1,116,580 1,636,171 141,065 1979-80 12,176,699 2,977,618 3,027,900 2,344,302 $ 544,597 1,537,289 1,596,829 148,164 1980-81 16,407,099 3,648,090 3,407,025 2,868,460 608,009 2,261,888 3,469,027 144,600 1981-82 18,623,122 2,852,858 4,888,849 2,501,925 650,202 2,303,143 4,996,323 429,822 1982-83 15,463,426 2,272~ 74 5,285,609 2,935,279 727,155 2,573,014 1,233,048 437,147 1983-84 16,723,893 2,551,209 5,813,451 3,408,568 825,236 2,764,121 1,003,261 358,047 1984-85 22,279,729 3,008,056 7,020,105 2,974,480 860,556 3,278,290 4,619,242 519,000 1985-86 36,206,852 4,124,793 7,851,268 6,412,310 1,052,394 3,710,505 12,333,087 922,495 Includes General, Special Revenue, Debt Service and Capital Project funds. I21The City assumed responsibility for the Carlsbad Housing Office in 1979-80. In 1982-83, the City adopted the entity concept of reporting. This causes the Debt Service expenditures to increase due to the inclusion of the City’s Building and Parking Authorities Lease Revenue Bond pay- ments. GENERAL EXPENDITURES BY FUNCTlON GENERAL GOVERNMENT 11.2% 1985-86 /-- 4.1 PUBL I c SAFETY PUBL I c WORKS 21.7% - 7.9 VALUES ARE IN MILLION DOLLARS CULTURE k RECREATION 1O.Z 3.7 WELFARE 3.0% 1.1 DEBT SERV I CE 2.5% 0.9 CAP 1 TAL PROJECTS 33.8% 12.3 114 I I I GENERAL EXPENDITURES BY FUNCTION TOTAL EXPENDITURES - LAST TEN YEARS M ILL I ON DOLLARS 30 20 10 0 77 78 79 80 81 82 83 84 85 86 FISCAL YEAR INCLUDES GENERAL.SPECIAL REVENUE. DEBT SERV & CAPITAL FUNDS SPEND I NG ON CAP I TAL PROJECTS LAST TEN YEARS ! M ILL I ON DOLLARS 15 1 YEAR INCLUDES GENERAL. SPECIAL REVENUE. DEBT SERV h CAPITAL FUNDS 115 Fiscal Year 1976-77 1977-78 1978-79 1979-80 1980-81 1981 -82 1982-83 1983-84 1984-85 1985-86 Total $ 9,127,256 10,838,146 9,395,988 12,673,232 16,748,825 16,543,575 18,314,250 23,870,285 31,272,744 37,078,236 -1- CITY OE CARLSBAD- General Revenue by Source(') Last Ten Fiscal Years Property I Taxes Sales Tax $2,923,710 3,484,504 1,633,938 2,615~ 81 3,344,171 4,193,938 4,449,196 4,848,041 5,243,124 6,769,473 $1,402,841 1,967,968 2,389,832 2,969,586 3,302,134 3,941,152 3,974,732 4,891,379 5,726,373 6,222,008 Franchise Taxes $ 96,818 11 1,271 141,189 175,257 250,101 288,956 358,228 466,102 515,087 586,479 (''Includes General, Special Revenue, Debt Semice, and Capital Project funds. I 3 I Other Taxes I I I $ 939,574 1,056,924 1,242,152 1,302,526 1,615,950 1.347.202 I. 1,950,631 231 0,600 I I 2,611,584 2,786,368 i 116 I I I I I I I I I I I I I I ____ Business Licenses $1 41,050 151,768 186,845 242,342 247,798 258,663 279,973 351,875 428,546 471,470 - Other Licenses Intergov- ernmental $ 908,521 909,201 626,749 829,623 1,048,332 537,476 491,267 2,099,942 3,042.1 10 3,525,394 $ 576,762 655,588 1,343~ 02 1,133,947 1,875,243 2,551,262 1,777,587 2,060,542 2,924,892 873,544 Charges for Services $1,585,056 1,411,538 1,303,342 1,577,622 1,969,808 2,451,708 4,747,951 9,406,829 3,877,542 8,541,600 MILLION DOLLARS 500 YEiP Fines and Forfeits Interest $1 39,480 125,964 129,504 152,171 230,684 260,498 231,086 256,471 345,750 288,055 $ 325,749 557,618 952,378 1,294,625 1,573,375 1,794,676 1,396,896 1,542,092 2,638,536 2,857,221 Miscellaneous $ 87,695 187,846 134,471 171,197 124,791 75,963 179,271 378,245 119 492 1,210,056 2 I I I 117 - __ CITY OF CARLSBAD Ratio of General Bonded Debt to Assessed Valuation and Net Bonded Debt Per Capita Last Ten Fiscal Years Fiscal Year 1976-77 1978-79 1979-80 1980-81 1981 -82 1982-83 1983-84 1984-85 1985-86 1977-78 Net Assessed Va luat Ion (1) Outstanding Principal'o Percent of Total Valuation Per Capita Debt $ 626,519,420 786,791 ,51 6 981,186,480 1,250,154,952 1,444,275,932 1,687,082,037 2,015,289,869 2,194,598,447 2,495,887,152 2,894,233,860 $1,680,000 1,595,000 13 10,000 1,425,000 1,245,000 1,145,000 1,030,000 915,000 900,OOO 785,000 0.27 '/o 0.20 0.1 5 0.1 1 0.08 0.06 0.05 0.04 0.05 0.03 (11 Net assessed value is stated at 100% of market value. (21 Library and sewer general obligation bonds. I3l Population as of January 1 each year per the State Department of Finance. $69.59 57.07 47.04 40.20 34.97 31.65 26.39 22.60 20.19 16.06 Population(3) 24,143 27,946 32,100 35,448 35,606 36,172 39,037 40,665 44,566 48,872 Clpf OF CARLSBAD RATIO OF OUTSTANDING GENERAL BONDED DEBT TO POPULATION 118 I I -- I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 25% of Assessed Valuation CITY OF CARLSBAD Computation of Legal Debt Margin June 30,1986 Debt Limit 15% of Assessed Valuation Amount of Debt Applicable to Debt Limit: Bonded Debt(') Capitalized Leases Total Amount of Debt Applicable to Debt Limit $723.558.465 $108,533,770 $3,310,000 275,783 3,585.783 LEGAL DEBT MARGIN Percent of Debt Limit $1;04,947,987 3.30% tl) Total Bonded Debt-General Obligation Bonds (Library and Sewer) Parking Authority Building Authority TOTAL BONDED DEBT 119 $ 785,000 2,330,000 195,000 $ 3,310,000 ~ I _. . - -- _. CITY OF CARLSBAD Schedule of Direct and Overlapping Bonded Debt June 30,1986 1 1985-86 Assessed Valuation: $2,918,133,891 (after deductina $34,043,169 redevelopment tax allocation ... - increment) DIRECT AND OVERLAPPING BONDED DEBT: San Diego County Building Authorities San Diego County Water Authority San Diego County Water Authority Certificates of Participation Metro pol it an Water District Oceanside-Carlsbad Community College District Carlsbad Unified School District (various issues) Carlsbad Unified School District Authority San Marcos Unified School District San Dieguito Union High School District Encinitas Union School District Encinitas Union School District Authority Other School Districts Tri-City Hospital District Palomar Pomerado Hospital District 8, Authority Leucadia County Water District San Marcos County Water & I.D.’s # 1,2,6 Costa Real Municipal Water District Costa Real (Carlsbad) Municipal Water District, Olivenhain Municipal Water District I.D. # 1 City of Carlsbad City of Carlsbad Building Authority City of Carlsbad Parking Authority City of Carlsbad 1915 Act Bonds Vista Irrigation District Certificates of Participation Improvement Districts # 1,2,3,4 TOTAL DIRECT AND OVERLAPPING BONDED DEBT Ratios to Assessed Valuation: Direct Debt ($3,310,000) 0.1 1 % Total Debt 1.68% Source: California Municipal Statistics, Inc. % Applicable Debt 6130186 4 .O 1 8% 4.175 4.175 0.675 25.656 94.946-94.954 94.909 21 .a1 9.240 23.981 23.981 Various 31.71 3 0.632 49.786 4.569-8.596 98.133 96.152-98.124 30.436 100. 100. 100. 100. 0.009 $ 6,802,675 1,455,405 4,175,000 3,607,686 38,484 757,640 2,125,962 681,359 397,320 376,501 346,525 12,396 739,053 108,578 389,221 143,728 12,266,625 1,081,960 51 5,890 785,000 195,000 2,330,000 9,570,000 559 $48,902,574 I I I i I I I 1 I I I I I I 120 I I I I I i I I I 1 1 I 1 I 1 I I I I Fiscal Year CITY OF-CARLSBAD .-. - . Ratio of Annual Debt Service For General Bonded Debt to Total General Expenditures- Last Ten Fiscal Years Principal Interest 1976-77 1977-78 1978-79 1979-80 1980-81 1981-82 1982-83 1983-84 1984-85 1985-86 $ 85,000 85,000 85,000 95,000 95,000 100,000 115,000 1 15,000 1 15,000 15,0ooO, $62,215 59,297 56,038 53,164 49,600 46,160 42,757 38,022 33,723 29,727 Total Debt Sewicecl) $1 47,215 144:297 141,038 148,164 144,600 146,160 157,797 53,022 148,723 144,727 Total Generaba Expenditures $ 6,944,657 8,755,846 10,216,677 12,176,699 16,407,099 18,623,122 15,463,426 16,723,893 22,297,729 36,206,852 Ratioof Debt Service to General Expenditures YO 2.1 O!O 1.6 1.4 1.2 0.9 0.8 1 .o 0.3 0.7 0.4 11) Debt service requirement on General Obligation Bonds comprised of 1962 Sewer Bonds Series A, 9, C; and 1966 Library Bonds. Excludes debt service for Building and Parking Authorities. (2) Includes General, Special Revenue, Debt Service and Capital Project funds. (3) In 1983-84, the City began recording principal payments in the year they become payable. The general obligation principal payments for the City’s sewer bonds are due July 1 and have previously been recorded as paid by the City on June 30 each year. ~~ RATIO OF DEBT SERVICE TO GENERAL EXPENDITURES Ratio (in X) I YEAR 121 I - I- CITY OF CARLSBAD Revenue Bond Coverage-Water Bonds Last Ten Fiscal Years - ~~ __ . . - - - Fiscal Year 1976-77 1977-78 1979-80 198081 1981 -82 1982-83 198584 1984-85 1985-86 197a79 Gross Revenue $1,271,353 1,388,l 95 1,525,143 1,806,817 1,997,591 2,084,262 1,934,415 1,672,564 1,371,214 1,522,383 Direct Operating Expenses $ 897,240 1,023,717 1,269,836 1,333,560 1,655,756 1,620,519 1,945,681 1,557,173 1,119,336 1,317,953 Net Revenue Available for Debt Service $374,113 364,478 255,307 473,257 341,835 463,743 (1 1,266) 1 '1 5,390 251,878 204,430 Debt Service Requirements Principii $ 60,000 85,000 90,000 95,000 105,000 21 5,000 1 15,000 125,000 130,OOO Interest $96,362 91,245 85,603 80,377 74,985 69,715 64,492 56,875 50,138 42,531 Total $1 76,362 176,245 175,603 175,377 179,985 284,715 179,492 56,875 175,138 172,531 Coverage 21 2% 207 145 270 190 1 63 (6) 203 144 118 In 19851984 the City began recording principal payments for the water revenue bonds in the year in which they became payable. In prior years principal payments had been recorded as paid on June 30 of each year rather than July 1 of the following year. I I I I I I I I I I I 1 I 1 122 I I 1 I I I I I I I 1 1 I I I I I I I ~~ WATER ENTERPRISE GROSS REVENUE AND DIRECT OPERATING EXPENSES LAST TEN YEARS ~~ ~ ~- GROSS D-rR€CLQP. - ____ EXPENSES REVENUE --- MILLION DOLLARS 2. 2. 1. 1. 0. FISCAL YEAR SEE NOTES TO THE FINANCIAL STATEMENTS FOR FURTHER INFO. NET REVENUE AVAILABLE FOR DEBT SERVICE LAST TEN YEARS THOUSAND DOLLARS FISCAL YEAR SEE NOTES TO THE FIHANCIAL STATEMENTS FOR FURTHER INFO. ... Year ~ Square Miles 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1990 (est ima t e) 1995 (est ima t e) 2000 (estimate) 28.7 28.7 29.1 29.4 29.7 29.8 32.0 32.0 35.6 36.0 CITY OF CARLSBAD Demographic Statistics Last Ten Fiscal Years Populatlonw 24,143 27,946 32,100 35,448 35,606 36,172 39,037 40,665 44,566 48,872 75,3003 92,1003 1 07,300(31 Population Percent Changes 15.1 '/a 15.8 14.9 10.4 0.4 1.6 7.9 4.2 9.6 9.7 County Population(') 1,656,800 1,694,800 1,767,450 1,808,200 1,899,900 1,924,700 1,986,035 2,041,362 2,083,359 2,166,169 (2) cn (9 1') Source-County Data Base, San Diego County 0) Population for City General Plan area-San Diego Association of Governments Series VI County Future Population Estimate Not Available population forecast. Source-State Department of Finance. POPULATION LAST TEN YEARS POPULAT I ON - THOUSAND \EAR POPULATION AS OF JANUARY 1 EACH YEAR - PER STATE DEPT OF FIN 124 I city Population Percent of County 1.5 '/o 1.6 1.8 2.0 1.9 1.9 2.0 2.8 2.1 2.3 I I I 1 I 1 I 1 I I I I I 125 Fiscal Year 1976-77 1977-78 1978-79 1979-80 1980-81 1981 -82 1982-83 1983-84 1984-85 1985-86 ~- CITY OF CARtSBAD __ - Schedule of Assessed Valuation Last Ten Fiscal Years Secured Property $ 634,981,140 801,704,900 999,559,196 1,273,499,832 1,467,470,336 1,700,974,823 2,027,411,290 2,19561 1,840 2,487,497,173 2,893,268,927 Unsecured Property Less Property Exemptions Total Valuation $29,525,016 36,462,064 43,293,144 51,751,756 35,508,800 43,077,175 50,604,897 57,309,394 75;231,054 77,524,350 S 4,598,456 8,758,480 8,685,684 9,419,844 10,315,004 8,210,761 13,841,078 8,401,587 14,605,675 18,616,217 $ 659,907,700 829,408,484 1,034~ 66,656 1,315,831,744 1,504,664,132 1,735,841,237 2,064,175,069 2,244,519,647 2,548,122,552 2,952,177,060 NET ASSESSED VALUATION Last Ten Years 3 ILL I ON DOLLARS 77 79 ao ai a2 83 a4 a5 86 YEAR J 126 I I I I 1 I I I I 1 I I I. 1 I 1 I I I Business Inventory Exemptions Homeowner's Exemptlons ~~ $ 9,217,080 12,680,768 16,640,376 20,829,192 0 0 0 0 0 0 $24,171,200 29,936,200 36,339,800 44,847,600 48,388,200 48,759,200 48,885,200 49,921,200 52,2&,40u 57,943,200 Net Taxable Value $ 62631 9,420 786,791,516 981,186,480 1,250,154,956 1,444,275,932 1,687,082,037 2,015,289,869 2,194,498,447 2,495,887,152 2,894,223,860 1 27 .. -~ CITYOFCARLSBAD ~ ~ -- Construction and Business Activity Last Ten Fiscal Years Buildlng Permit Percent Estlmated Fiscal Year Revenue Change Valuatlorv) 1976-77 $613,427 222.0% 1977-78 520,603 (15.1) 1978-79 1979-80 1980-81 1981 -82 1982-83 1983-84 1984-85 1985-86 1 19,224 181,839 328,453 271,542 490,100 1,055,738 1,397,129 1,068,876 (77.1) $ 23,700,000 52.5 41,900,000 80.6 85,900,000 (1 7.3) 52,700,263 80.5 79,400,000 118.1 198,520,304 (1 4 21 3,403,469 32.3 263,548,719 (l) Information for fiscal year 1976-77 through 1977-78 is not available. Busines8 LIcenses Issued 141,050 151,768 186,845 242,342 258,663 279,973 351,875 428,546 471,470 247,798 Percent Change 26.8% 7.6 23.1 29.7 ' 2.3 4.4 8.2 25.7 10.0 21 .a ESTIMATED BUILDING VALUATION 1978-79 TO 1985-86 M I LL I ON DOLLARS 300 79 ao 81 a2 a3 a4 as 86 FISCAL YEAR L'ALUATION PRIOR TO 1978-79 NOT AVAILABLE 128 I 8 I I I 8 I I I I I I 1 I I 1 I I 1 Fiscal Year 1979-80 1980-81 1981 -82 1982-83 1983-84 1984-85 1985-86 ._ - CIIYOF CARLSBAD -. Property Tax Levies and Collections Last Seven Fiscal Years Total Current Levy 3,177,757 3,819,009 4,491,805 5,082,021 5,605,774 6,051,971 7,013,691 Source: San Oiego County Auditor/Controller Information prior to Fiscal Year 1979-80 is unavailable. Total Current Collections 3.1 77,892 3,742,244 4,3251 52 5,017,599 5,491,980 5,984,957 7,201,032 o/o of Collected Levy 100.00% 97.99% 96.29% 98.73% 97.97 '/o 98.89% 102.67% TOTAL TAX LEVY 1979-80 TO 1985-86 MILLION DOLLARS 80 81 82 83 84 85 86 YEAR DATA PRIOR TO 1979-80 NOT AVAILABLE 129 CITY OF CARLSBAD . - Miscellaneous Statistical Information Date of Incorporation Type of City Form of Government Area Population Number of Street Lights Miles of Streets Fire Protection: Number of Stations Number of Firefighters & Officers Police Protection: Number of Stations Number of Sworn Police Officers Municipal Water District: Number of customers Average daily consumption Miles of lines and mains Miles of Sewers Recreation and Culture: Number of Parks (Improved and unimproved) Area of Parks Pools Number of Libraries Number of Volumes Total Number of City Employees 130 July 16, 1952 General Law CounciVManager 35.6 sq. miles 48,872 175 3 48 1 62 13,600 16.8 million gallons 300 95 33 90 Acres 1 2 164,065 357 1- 8 t I 1 I t 1 1 I 1 1 I 1 I I I I a Firm ManufacturinQ: CITY OF CARLSBAD __ Schedule of Principal Employers 1985-86 ProductlService Hughes Aircraft Company, Burroughs Corporation Sargent Industries Sierracin-Magnedyne, Inc. Eaton-Leonard Corporation Dyna Med Inc. Beckman Instruments Watkins Products Industrial Products Division Electronic components Computer components Industrial seals Electronic motors Vending machines Emergency medical products Microbics operation Spas Non-manufacturing: Plaza Camino Real La Costa Hotel 8. Spa Car Country Auto Dealers Carlsbad Unified School District San Diego Gas 8. Electric, Encina Pea Soup Andersen's Army 8. Navy Academy Frazee Flowers Coast Waste Management Cablevision Shopping center-@ major Hotel 8. health spa Car dealers Education Power generation Restaurant/Hotel Private juniorlsenior high school Flower growing and processing Refuseldisposal Company Commercial television department stores) All major agencies Number of Employees 1,400 325 200 150 275 180 172 141 1,000 1,000 500 (est.) 425 414 200 106 100 75 50 Source: City of Carlsbad Chamber of Commerce 131